HomeMy WebLinkAbout04/15/2014 05A 2013 Year-End Budget Revenue & Expenditure ReportBUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No.
For Meeting of: 4/15/2014
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ITEM TITLE:
SUBMITTED BY:
SUMMARY EXPLANATION:
2013 Year -End Budget Revenue & Expenditure Report
Tony O'Rourke, City Manager
Cindy Epperson, Finance Director
As previously projected, actual 2013 budget performance was effectively managed so that
overall departmental expenditures have again been restrained below authorized budget
levels. As a result, the City's final year-end 2013 financial position improved. General
Government Revenues exceeded the original budget by $0.8 million, led by the continued
upward turn in sales tax. Expenditures were within the total amended budget, so that General
Government and with a positive operating reserve balance of $10.9 million, which is 17.1% of
2013 expenditures.
Total 2013 actual expenditure for all funds was $194.9 million compared to the 2013 amended
budget of $217.6 million -- $22.7 million or 10.5% less than the City Council's authorized
appropriation level, primarily due to deferred spending for major Capital Improvement Projects,
which are or will be re -budgeted for 2014. All other funds ended 2013 with fund balances at
expected and prudent levels.
Conclusion:
Given the current state of the local and national economy, the state of the worldwide affairs and
the related potential impacts to all government entities, City management has taken a
conservative approach to budgeting of revenues and continues to maintain controls on
expenditures. Overall, the 2013 year-end fiscal position reflects that the City of Yakima was able
to effectively manage its economic environment.
Resolution: Ordinance:
Other (Specify): 2013 Year -End Budget Report
Contract Term:
End Date:
Amount:
Contract:
Start Date:
Item Budgeted: NA
Funding Source/Fiscal
Impact:
Strategic Priority:
Insurance Required? No
Mail to:
Phone:
APPROVED FOR
SUBMITTAL:
RECOMMENDATION:
Accept Report
Public Trust and Accountability
City Manager
ATTACHMENTS:
Description Upload Date
❑ 2013 Year -End Budget Report 4/9/2014
Type
Backup IMlateiriiall
MEMORANDUM
April 9, 2014
TO: The Honorable Mayor and
Members of the City Council
FROM: Tony O'Rourke, City Manager
Cindy Epperson, Director of Finance & Budget
SUBJECT: 2013 Year -End Financial Monitoring Report
We are submitting for your review the City of Yakima's 2013 year-end actual results compared
to budgeted Revenue and Expenditure Report for all city funds. Balances shown are subject to
final adjustments made as a result of the year-end closing process, which will not be officially
concluded until the State Auditor's work is completed this summer.
Overall, 2013 budget performance has produced a stable revenue position, while citywide
departmental expenditures have been restrained below authorized budget levels.
General Government operations ended the year virtually balanced -- receipting and spending
$63.5 million. Total revenue for all funds is $197.6 million, while total expended is $194.9
million, adding $2.7 million to citywide reserve balances.
It should be noted that the budget information for the Yakima Air Terminal (YAT) is not yet
incorporated into the operating and capital components of this report because of the 2 month
timing difference for January and February. The operating fund results are summarized in the
same format as the other funds, but are presented separately. YAT is continuing to rebuild its
cash reserves after making the scheduled County SIED loan repayment in June.
This report is summarized by type of fund, and reported by functional type, in the following order:
➢ Performance at a Glance - Financial Monitoring System
➢ City -Wide Overview
➢ General Fund Revenue Analysis
➢ General Fund Expenditure Analysis
➢ Other Funds Analysis
➢ Top 10 Capital Project
➢ Exhibits - Fund detail that supports the summaries:
• Exhibit I - Other Operating/Enterprise Funds
• Exhibit II - Capital Improvement Funds
• Exhibit III - Reserve and Other Funds
• Exhibit IV - Bond Redemption Funds
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PERFORMANCE AT A GLANCE
General Fund
Revenues
Expenditures
Fund Balances
Operating/Enterprise Funds (1)
Capital Funds (l)
Reserve, Trust & Agency Funds (1)
Bond Redemption Funds (1)
STATUS PAGE
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
Legend:
Revenues exceed budget >5%, Expenditures below budget >5%
Revenues exceed budget <5%, Expenditures below budget <5%
Revenues below budget between 3-5%
Revenues below budget >5%
(1) These funds are graded on a net Revenue measurement.
3 / 4-6
3 /7
8-9
10/14
10-11/13/15
10/11/16
10/11/17
POSITIVE
NORMAL
WARNING
NEGATIVE
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CITY WIDE OVERVIEW
REVENUE COMPARISON
(Budget vs. Actual - 100% of year)
------------- 2012 -
2012 Percent Amended
Actual Rec'd Budget
2013 --------------------------
2013
Actual
Percent
Rec'd
General $52,077,679 103.2% $53,173,249 $53,999,004 101.6%
Parks and Recreation 4,210,889 104.0% 4,083,765 4,381,894 107.3%
Street & Traffic Operations 5,291,678 104.7% 5,411,260 5,132,422 94.8%
General Government Subtotal 61,580,246 103.4% 62,668,274 63,513,320 101.3%
Operating/Enterprise Funds 66,650,578 102.9% 65,939,691 65,588,762 99.5%
Capital Funds 19,748,313 61.0% 52,657,141 45,304,346 86.0%
G.O. Bond Redemption Funds 3,444,797 94.9% 3,812,383 3,521,842 92.4%
Utility Revenue Bond Redemption Funds 2,865,324 108.6% 2,129,686 2,131,686 100.1%
Employee Benefit Reserves 14,110,181 100.9% 14,630,500 13,522,989 92.4%
Operating Reserves 3,164,410 100.0% 3,586,500 3,516,118 98.0%
Trust and Agency Funds 566,064 100.0% 528,200 544,545 103.1%
Total $172,129,913 95.3% $205,952,375 $197,643,608 96.0%
EXPENDITURE COMPARISON
(Budget vs. Actual - 100% of year)
------------- 2012 - 2013 --------------------------
2012 Percent Amended 2013 Percent
Actual Spent Budget Actual Spent
General $51,487,699 99.9% $54,053,972 $54,052,926 100.0%
Parks and Recreation 4,046,898 100.0% 4,275,425 4,261,347 99.7%
Street & Traffic Operations 5,237,585 100.7% 5,490,823 5,225,208 95.2%
General Government Subtotal 60,772,182 99.9% 63,820,220 63,539,481 99.6%
Operating/Enterprise Funds
Capital Funds
G.O. Bond Redemption Funds
Utility Revenue Bond Redemption Funds
Employee Benefit Reserves
Operating Reserves
Trust and Agency Funds
Total
63,862,252
20,285,619
3,467,243
3,480,991
13,374,533
3,045,038
207,672
$168,495,530
95.6% 66,366,497 64,474,200
38.7% 62,336,449 44,099,580
94.9% 3,831,384 3,667,889
86.4% 2,127,561 2,127,561
91.7% 14,634,979 12,579,133
29.9% 3,918,264 3,778,671
41.3% 593,304 593,304
79.1% $217,628,658 $194,859,819
97.1%
70.7%
95.7%
100.0%
86.0%
96.4%
100.0%
89.5%
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GENERAL GOVERNMENT REVENUE ANALYSIS
GENERAL GOVERNMENT REVENUES
2013
-------- Revenues through 12/31 -------- 2012 Amended Percent
2011 2012 2013 vs. 2013 Budget Rec'd
General Sales Tax $12,590,563
Crim. Justice Sales Tax 2,612,126
Property Tax 14,845,465
Franchise & Utility Taxes 11,544,230
Charges for Services 6,465,873
State Shared Revenue 2,812,082
Other Intergovernmental 1,163,850
Fines and Forfeitures 1,569,946
Other Taxes 1,388,471
Transfers from other Funds 1,181,348
Licenses and Permits 842,272
Other Revenue 606,269
Total Revenue 57,622,495
Beginning Fund Balance 9,140,156
Total Resources
$13,494,843
2,497,008
15,335,402
14,429,011
5,664,903
2,992,529
1,227,856
1,512,477
1,386,334
1,480,318
892,282
667,283
61,580,246
9,948,220
$14,462,963
2,922,211
15,696,436
14,719,274
6,016,642
2,701,780
1,367,881
1,603,138
1,462,506
1,327,401
817,750
415,338
63,513,320
10,908,094
$66,762,651 $71,528,466 $74,421,414
7.2%
17.0%
2.4%
2.0%
6.2%
(9.7%)
11.4%
6.0%
5.5%
(10.3%)
(8.4%)
(37.8%)
3.1%
9.6%
$14,000,000
2,747,000
15,329,000
14,530,000
6,379,205
2,611,000
1,445,219
1,555,000
1,396,500
1,370,000
731,700
573,650
62,668,274
10,908,094
103.3%
106.4%
102.4%
101.3%
94.3%
103.5%
94.6%
103.1%
104.7%
96.9%
111.8%
72.4%
101.3%
4.0% $73,576,368 101.1%
Status
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
Sales Tax - The fourth quarter continued the acceleration seen in the second half of 2012 and the first half of
2013. 2013 ended 7.2% ahead of 2012 actual. This is the second year in a row of a growth rate of 7.2%. We
finally exceeded 2008 levels in 2013. This growth was driven primarily by good volume, quality and market
conditions for the areas agricultural commodities. The Criminal Justice Sales Tax experienced similar results.
However, this revenue is allocated among the operating and capital funds based on need. Primarily due to
the Police Command succession planning, General Fund required a greater allocation in 2013.
Property Tax - The property tax levy was higher than originally budgeted (we don't know the final levy
until after the budget is adopted each year). Also, we discount our budget estimates for uncollected
amounts. We typically build in about a 4% collection delay, however, Yakima County experienced an
uncollected rate of only 2.5% at year end, as the local economy continued to improve. This revenue is
also shared with the Firefighters' Pension Fund, which experienced savings of over $100,000 in
expenditures so that amount was re -allocated to General Government operations.
Charges for Services - This category was up over the prior year, but was still below budget primarily
due to fewer events and less participation in the Parks and Recreation senior tour program, coupled with
position vacancies and staff re -allocations that affected how Engineering charges out their time to
projects.
State Shared Revenue - The Washington State Legislature reduced the allocation of Liquor Excise Taxes
as a cost containment measure for the state budget in 2013, which is why the actual is less than prior
year. We anticipated that in the budget, and fortunately as the state economy recovered from the
recession, the underlying revenue sources that are the basis for some of the allocations experienced
modest growth, resulting in actual being 3.5% greater than budget.
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Other Intergovernmental - The contracts for School Resource Officers (SRO) and Yakima Housing
Authority (YHA) for police presence in their rental facilities make up about half of this category. YHA
canceled their contract in early spring, and the SRO budget was not properly estimated for the budget
because of the timing of billings. Even though this category came in under budget, it still demonstrated
an increase of 11.4% over 2012.
Other Taxes - This category consists primarily of Business Licenses and Gambling Taxes, bolstered by
the recovering economy.
Transfers from Other Funds - Three and one-half percent of the utility tax on Water, Wastewater, and
Refuse is designated by Council for Parks and Recreation operations. These taxes are all receipted into
the General Fund, and the transfer is then made from General Fund to Parks and Recreation. 2012 was a
banner year for water and wastewater, primarily because of the large size of the fruit crops—processing
requires a large volume of water. This one line exceeded the 2013 budget, even though the actual was
less than prior year. Other minor transfers included in the budget were ultimately not required, so that
in total the category was slightly below budget.
Licenses and Permits -Generally, the construction segment of our local economy is recovering from the
recession. 2012 was bolstered by the Yakima School District permits for the 2 high schools -- even
though we were below prior year actual, the budget was conservatively estimated so 2013 actual
exceeded budget by about $86,000 or 11.8%.
Other Revenue - Interest earnings is the primary component, and rates continued to drop throughout
2013. This is one area that has not yet recovered from the recession.
Overall, total General Government revenue demonstrated growth of 3.1% over 2012 actual, and ended
2013 $845,000 or 1.3% greater than budget, although there were fluctuations in individual revenue
categories.
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10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
GENERAL GOVERNMENT REVENUES - By Month
2011 2012 2013
January 4,204,721 3,668,912 4,451,264
February 3,875,777 4,206,186 4,267,636
March 4,078,448 4,861,758 4,896,583
April 9,178,647 9,372,818 9,758,283
May 4,565,077 4,833,268 4,733,408
June 3,929,664 4,146,240 4,168,515
July 3,536,362 4,636,431 3,962,439
August 3,405,624 3,574,114 3,798,660
September 4,354,881 4,250,150 4,758,660
October 8,531,924 9,673,506 10,070,031
November 3,925,532 4,263,220 4,006,410
December 4,035,837 4,093,641 4,641,432
57,622,494 61,580,244 63,513,321
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
GENERAL GOVERNMENT REVENUES - Cumulative By Month
2011
2012 2013
January 4,204,721 3,668,912 4,451,264
February 8,080,498 7,875,098 8,718,900
March 12,158,946 12,736,856 13,615,483
April 21,337,593 22,109,674 23,373,766
May 25,902,670 26,942,942 28,107,174
June 29,832,334 31,089,182 32,275,689
July 33,368,696 35,725,613 36,238,128
August 36,774,320 39,299,727 40,036,788
September 41,129,201 43,549,877 44,795,448
October 49,661,125 53,223,383 54,865,479
November 53,586,657 57,486,603 58,871,889
December 57,622,494 61,580,244 63,513,321
60,000,000
40,000,000
20,000,000
0
LI■ 2011
2012
■ 2013
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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GENERAL GOVERNMENT EXPENDITURE ANALYSIS
GENERAL GOVERNMENT EXPENDITURES
2013
Expenditures through 12/31 2012 Amended Percent
2011 2012 2013 vs. 2013 Budget Spent Status
Police $22,412,167 $24,470,231 $25,923,174 5.9% $25,880,899 100.2%
Fire 8,747,587 9,419,820 9,709,330 3.1% 9,909,477 98.0%
Transfers To Other Funds 2,311,919 3,485,667 3,019,305 (13.4%) 3,002,275 100.6%
Information Technology 2,488,928 2,216,953 2,298,015 3.7% 2,435,038 94.4%
Financial Services 1,395,184 1,437,305 1,461,274 1.7% 1,478,418 98.8%
Code Administration 1,255,439 1,164,991 1,381,740 18.6% 1,389,047 99.5%
Municipal Court 1,151,934 1,173,262 1,330,831 13.4% 1,384,004 96.2%
Utility Services 1,218,380 1,281,779 1,313,058 2.4% 1,324,950 99.1%
Police Pension 1,471,511 1,264,681 1,344,773 6.3% 1,297,225 103.7%
Legal 1,046,653 1,087,024 1,247,205 14.7% 1,287,573 96.9%
Indigent Defense 471,740 487,601 541,656 11.1% 833,500 65.0%
Engineering 730,127 659,375 654,156 (0.8%) 686,172 95.3%
Purchasing 447,447 503,721 549,153 9.0% 541,244 101.5%
Planning 643,195 550,322 492,672 (10.5%) 534,116 92.2%
Records - City Clerk 412,182 520,503 437,577 (15.9%) 461,070 94.9%
Human Resources 446,132 437,905 442,846 1.1% 459,969 96.3%
Economic Development 0 42,485 503,185 n/a 457,217 110.1%
City Hall Maintenance 346,080 320,121 360,378 12.6% 372,923 96.6%
City Manager 484,875 357,542 366,983 2.6% 366,555 100.1%
City Council 193,161 236,321 286,511 21.2% 284,751 100.6%
Intergovernmental 256,849 241,669 260,749 7.9% 261,549 99.7%
State Examiner 114,213 105,946 103,729 (2.1%) 110,000 94.3%
Urban Area Hearings Exam. 12,405 22,475 24,626 9.6% 26,000 94.7%
Position Vacancy Savings 193,841 0 0 n/a (730,000) 0.0%
Total General Fund 48,251,949 51,487,699 54,052,926 5.0% 54,053,972 100.0%
Parks & Recreation Fund 4,194,991 4,046,898 4,261,347 5.3% 4,275,425 99.7%
Street & Traffic Ops. 5,211,134 5,237,585 5,225,208 (0.2%) 5,490,823 95.2%
Total General Government $57,658,074 $60,772,182 $63,539,481 4.6% $63,820,220 99.6%
Total General Government Fund Expenditures -0.4% below budget
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
POSITIVE
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
Positive Variance -- Indigent Defense - The contract increase to comply with a new mandate was
budgeted to begin in mid -year. The implementation date of the new rule has been moved back to 2015
resulting in savings of about $290,000 in 2013.
Position Vacancy Savings - Shown for fund total purposes only - no "actual" is charged here.
Since General Government is about 68% staffing, events affecting total payroll have a significant impact
on budgets. Position vacancies can start being an "overage" because of the cashout of earned accrued
leave balances, but then can produce savings when the position is vacant for any length of time. Most
variances in individual divisions are the result of position vacancies.
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FUND BALANCES
CHANGE IN FUND BALANCE
01/01/13 12/31/13
Beginning 2013 2013 Ending
Balance Actual Rev. Actual Exp. Balance
General $9,182,140 $53,999,004 $54,052,926 $9,128,218
Parks and Recreation 460,790 4,381,894 4,261,347 581,337
Street & Traffic Operations 1,265,164 5,132,422 5,225,208 1,172,378
General Government Subtotal 10,908,094 63,513,320 63,539,481 10,881,933
Operating/Enterprise Funds 17,467,197 65,588,762 64,474,200 18,581,759
Capital Funds 21,527,952 45,304,346 44,099,580 22,732,718
G.O. Bond Redemption Funds 649,062 3,521,842 3,667,889 503,015
Utility Revenue Bond Redemption Funds 1,756,587 2,131,686 2,127,561 1,760,712
Employee Benefit Reserves 4,941,679 13,522,989 12,579,133 5,885,535
Operating Reserves 1,282,113 3,516,118 3,778,671 1,019,560
Trust and Agency Funds 1,004,924 544,545 593,304 956,165
Total $59,537,608 $197,643,608 $194,859,819 $62,321,397
$1,500,000
$1,300,000
$1,100,000
$900,000
$700,000
$500,000
$300,000
$100,000
($100,000)
($300,000)
FUND BALANCES
Change from Prior Year
6.8%
8.8%
General Operating & Capital Funds Reserve, Trust
Government Enterprise &Agency
Funds Funds
(5.9%)
1111111111111111111111111111111111111111111111111
Bond
Redemption
Funds
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FUND BALANCE ANALYSIS
The 2013 actual results of expenditures and revenues netted an overall increase in total City fund
balances of $2,784,000.
General Government was virtually balanced, using $26,161 of its fund balance, and ended 2013 with a
balance of $10,882,000 or about 17.1% of the 2013 expenditure budget. This slightly exceeds the 60 day or
16.7% target.
Operating and Enterprise funds added $1,115,000 to ending fund balances. About $0.9 million was in
Wastewater Operating fund, to bring the ending balance to the recommended minimum level. The
Refuse Fund used $162,000 of its beginning fund balance, dropping the total to $370,000 or 6.5% of the
operating budget at the end of 2013, well below the recommended minimum. Refuse has not had a rate
increase for operations for several years, and a rate study is currently being performed. All other funds
in this category ended the year as expected.
Capital Funds added a net of $1.2 million of beginning reserves, with Wastewater using about $5 million
of its capital reserves, as they are in the middle of a series of major capital improvement projects. The
Arterial Street Fund added about $1.7 million, made up primarily of unspent bond proceeds from the $5
million issued in 2013. Transit Capital fund gained $1.2 million as the capital allocation of sales tax was
unspent in 2013. All other major capital funds netted an increase.
As discussed earlier, the Employee Benefit funds grew their balances to stay in compliance with
minimum guidelines. The Risk Management fund used $191,000 of reserve balance, with the ending
balance being $839,000. Rates were increased by 7% in 2014 to address the needs of this fund. This
balance will be monitored for adequacy throughout the year.
In the Bond Redemption funds there were 2 uses of reserves in the General Obligation category. Two
older LIDs were undercapitalized, and we transferred $35,000 from the LID Guaranty fund to the LID
Debt Service Control Fund to complete the required repayment. Also, the fund used for defeasing the
1994 Law and Justice Center/I-82 debt issue had about $100,000 as a beginning balance. The final
payment was made in 2013, so that balance was zeroed out. Revenue bond redemption fund balances
were virtually unchanged. At the end of 2013 all Revenue Bonds are in compliance with required bond
covenants.
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OTHER FUNDS ANALYSIS
Operating/Enterprise Funds
Capital Funds
Reserve, Trust & Agency Funds
Bond Redemption Funds
Total Revenue
Beginning Fund Balance
Total Resources
OTHER FUNDS REVENUES
------- Revenues through 12/31 ------
2011 2012 2013
$60,556,731
25,928,324
16,273,549
6,281,392
109,039,996
47,566,161
$66,650,578
19,748,313
17,840,655
6,310,121
110,549,667
45,711,333
$65,588,762
45,304,346
17,583,652
5,653,528
134,130,288
48,629,514
2013
Amended Percent
Budget Spent Status
$65,939,691 99.5%
52,657,141 86.0%
18,745,200 93.8%
5,942,069 95.1%
143,284,101 93.6%
48,629,514
$156,606,157 $156,261,000 $182,759,802 $191,913,615 95.2%
OTHER FUNDS EXPENDITURES
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
2013
------- Expenditures through 12/31 Amended Percent
2011 2012 2013 Budget Spent Status
Operating/Enterprise Funds $61,777,345 $63,862,252 $64,474,200 $66,366,497 97.1% NORMAL
Capital Funds 26,598,171 20,285,619 44,099,580 62,336,449 70.7% NORMAL
Reserve, Trust & Agency Funds 17,118,293 16,627,243 16,951,108 19,146,547 88.5% SITIVE
Bond Redemption Funds 6,254,063 6,948,234 5,795,450 5,958,945 97.3% NORMAL
Total Expenditures $111,747,872 $107,723,348 $131,320,338 $153,808,438 85.4% NORMAL
Year end results generally performed as expected. Variances in capital funds are related to timing,
which is why they are getting a Normal status. The Employee Benefit Reserve funds in total added
almost $1 million to their balances, led by the Employees' Health Benefit Reserve Fund ending the year
$827,000 ahead of the prior year. The additional $1 million represents a 19% increase in fund balance,
which warrants labeling that category with a Positive status.
Departments Under Budget by more than 5%
• The Neighborhood Development amended budget includes both the "new" HUD grant
and the obligated carryover from prior year. The unspent funding at the end of 2013 is
included in the encumbrance ordinance, which will add about $1.3 million to their 2014
budget.
• In the remaining Operating/Enterprise funds, most budgets over $1 million were within
5% of total budget. The Public Safety Communications Fund was under spent by
$263,000 or 7.5% because of position vacancies. The Public Works Administration Fund
was under spent by $96,000 or 8% because of the combination of salary savings related to
position vacancies, and operational efficiencies in the facility's utilities.
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• Capital Fund budgets include the full project, and are not expected to be 100%
completed in the current year. In total, these funds are below budget by about $18.2
million. Of the top 10 capital projects budgeted in 2013, 5 were substantially completed,
and 5 were in various stages of completion, and were either rebudgeted or will require a
non -lapsing appropriation to carry forward the project budget into 2014. Wastewater
has several projects which were underspent by $7.5 million, including Biosolids
improvement of $4.7 million; Industrial Waste line at the old Boise Cascade mill site of
$0.7 million, and piping in the Speedway/Race Street of $1.3 million. About $6.2 million
of the total variance is tied to Street projects, including $3.7 million for the Martin Luther
King Blvd railroad underpass project and $1.2 million remaining from the 2013 bond
issue. A listing of the top ten budgeted projects and their year end expenses follow.
• Reserve Funds consist primarily of Employee Benefit Funds and the Risk Management
Fund. The self-insured Employee Benefit Funds were all under budget. Because of the
potential volatile nature of these expenditures, the budget estimates are set high. The
Health Benefit Fund had a good year, ending the year spending $936,000 less than in
2012 and adding $827,000 to its fund balance—rates were lowered in the 2014 budget.
Unemployment and Workers' Compensation fund rates were unchanged going into
2014. Risk Management continues to have challenges, using approximately $190,000 of
its fund balance in 2013. The 2014 budget includes a 7% increase in contributions from
the operating funds.
• Bond Redemption Funds ended the year as expected. The slight positive variance is tied
to two issues—LID repayment is tied to revenue received which was less than
anticipated, and the debt service on the $5 million bond issued in mid -2013 was
conservatively estimated to be closer to a full year.
Funds Over Budget
Only two funds citywide slightly exceeded their total budget:
• The Economic Development Fund was over budget by $2,157 in the area of professional
services.
• The Front Street Business Improvement Area board authorized $1,368 more than the
estimated budget for decorations in the Area.
Both funds had available resources to cover the overage.
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YAKIMA AIR TERMINAL ANALYSIS
Actual Revenue Appropriations --- Ending
Beg Bal Amended Actual Percent Amended Actual Percent Balance
Fund 3/1/2013 Budget Revenue Recd Budget Exp Exp'd 12/31/2013
Airport Operating Fund 241,370 1,074,027 835,370 77.8% 1,068,650 1,010,208 94.5% 66,532
Airport Capital Fund 498,171 1,931,456 383,083 19.8% 1,897,707 299,599 15.8% 581,655
Total $739,541 $3,005,483 $1,218,453 40.5% $2,966,357 $1,309,807 44.2% $648,187
The YAT summary is included as a separate analysis - not included in City totals at this time. The
budget is for the full year, but the revenues and expenditures are only for the 10 months the City has
been sole owner, starting March 1, 2013. The airport is slowly adding to its cash reserves, which is
demonstrated by the fact that it started with $241,370 on March 1, but was able to repay $256,000 SIED
loan in June, and have over $66,000 at the end of the year.
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TOP 10 BUDGETED CAPITAL PROJECTS
Project Number/Description
1818 Railroad Grade Separation
Martin Luther King Blvd
2341 Regional Wastewater Treatment
Plant UASB and Electrical Impr
2261 Automated Meter Reading
2353 City Streets Project Impr
Total 2013 Actual 2013
Dept Budget Expended Funding Source
ST $12,409,500 $8,713,080 State & Federal Grants
Public Works Trust Fund Loan
WW 6,510,000 6,962,102 Capital Reserves
Revenue Bond (2014)
W/WW 6,076,586 6,011,625 Public Works Trust Fund Loan
ST 5,000,000 3,820,554 General Obligation Bond
(Proceeds received in June, 2013)
5,000,000 303,910 State Revolving Fund Loan FY 2014/15
2,200,000 1,473,744 Public Works Trust Fund Loan FY 2013/14
1,700,000 378,324 Wastewater Capital Reserves FY 2013/14
1,558,021 1,536,062 Drinking Water State FY 2014
Revolving Fund Loan
1,300,000 1,348,215 Wastewater Capital Reserves FY 2014/15
2308 Biosolids Improvement WW
2327 Ind Waste Line Boise Site WW
2264 Speedway/Race Street (2nd Ph) WW
2259 Water Treatment Plant Lagoons W
2267 WW NPDFS/TMDL Dschrg/Load WW
2314 River Road Improvement
Dept. Legend:
ST - Street Improvement
WW - Wastewater Capital
W - Water Capital
ST
Expected
Completion
FY 2014
FY 2013/14
FY 2013
FY 2013
1,204,421 1,013,992 State & Federal Grants
FY 2013
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EXHIBITS
Exhibit I
OTHER OPERATING/ENTERPRISE FUNDS
Actual Revenue Appropriations Ending
Beg Bal Amended Actual Percent Amended Actual Percent Balance
Fund 1/1/2013 Budget Revenue Rec'd Budget Exp Exp'd 12/31/2013
Economic Development $253,488 $229,000 $265,488 115.9% $277,332 $279,489 100.8% $239,487
Neighborhood Development 193,121 2,538,741 2,185,609 86.1% 2,564,724 1,856,349 72.4% 522,381
Community Relations 902,872 521,750 559,398 107.2% 922,855 912,037 98.8% 550,233
Cemetery 35,219 252,550 255,360 101.1% 267,327 236,530 88.5% 54,049
Emergency Services 106,982 1,195,026 1,222,777 102.3% 1,189,923 1,173,571 98.6% 156,188
Public Safety Communication 576,379 3,268,328 3,357,846 102.7% 3,520,154 3,256,565 92.5% 677,660
Police Grants 431,407 832,911 663,107 79.6% 838,078 837,871 100.0% 256,643
P.B.I.A. (Parking & Bus Impr) 83,656 205,340 211,887 103.2% 287,522 257,863 89.7% 37,680
Trolley 19,986 64,926 3,085 4.8% 77,246 15,921 20.6% 7,150
Front Street Bus Impr Area 8,750 3,535 3,293 93.2% 5,000 6,368 127.4% 5,675
Cony Center (Tourist Promo) 456,608 1,468,250 1,451,241 98.8% 1,460,299 1,428,327 97.8% 479,522
Capitol Theatre 108,960 359,177 295,969 82.4% 348,300 347,771 99.8% 57,158
PFD- Convention Center 193,585 700,750 750,353 107.1% 684,000 682,472 99.8% 261,466
Tourism Promotion Area 78,685 667,000 638,333 95.7% 667,000 643,696 96.5% 73,322
PFD- Capitol Theatre 53,337 528,500 567,657 107.4% 517,000 516,772 100.0% 104,222
Stormwater Operating Fund 1,365,147 2,035,000 2,161,871 106.2% 2,087,622 2,063,834 98.9% 1,463,184
Transit 1,473,161 8,049,195 7,720,475 95.9% 8,042,761 7,717,943 96.0% 1,475,693
Refuse 533,131 5,473,500 5,494,138 100.4% 5,654,199 5,656,791 100.0% 370,478
Wastewater Operating 1,505,221 20,653,916 20,353,803 98.5% 19,525,178 19,461,184 99.7% 2,397,840
Water Operating 2,910,120 8,258,100 8,788,331 106.4% 8,546,883 8,539,064 99.9% 3,159,387
Irrigation 662,115 1,683,100 1,775,532 105.5% 1,509,163 1,498,594 99.3% 939,053
Equipment Rental 4,602,251 5,653,658 5,582,259 98.7% 5,978,336 5,930,215 99.2% 4,254,295
Environmental 438,798 150,000 133,512 89.0% 192,950 48,077 24.9% 524,233
Public Works Admin. 474,218 1,147,438 1,147,438 100.0% 1,202,645 1,106,896 92.0% 514,760
Total Other Operating Funds $17,467,197 $65,939,691 $65,588,762 99.5% $66,366,497 $64,474,200 97.1% $18,581,759
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Exhibit II
CAPITAL IMPROVEMENT FUNDS
Actual Revenue Appropriations Ending
Beg Bal Amended Actual Percent Amended Actual Percent Balance
Fund 1/1/2013 Budget Revenue Rec'd Budget Exp Exp'd 12/31/2013
Arterial Street $495,100 $8,870,322 $7,994,539 90.1% $8,935,977 $6,307,758 70.6% $2,181,881
Central Bus District Capital 335,424 0 48,348 n/a 229,500 220,508 96.1% 163,264
Capitol Theatre Construction 619 0 71,927 n/a 0 0 n/a 72,546
Yakima Redevelopment Area 671,283 3,350,000 1,306,411 39.0% 2,509,240 749,007 29.8% 1,228,687
Parks and Recreation Capital 156,544 75,000 182,996 n/a 100,000 99,949 99.9% 239,591
Fire Capital 470,817 1,309,750 1,330,796 101.6% 1,246,896 658,087 52.8% 1,143,526
Law and Justice Capital 272,377 5,086,513 5,591,156 109.9% 5,289,102 5,054,427 95.6% 809,106
Public Works Trust Constr 695,613 611,306 653,928 107.0% 958,782 824,324 86.0% 525,217
REET 2 Capital 437,954 527,000 653,928 124.1% 506,822 506,822 100.0% 585,060
Transit Capital Reserve 1,231,995 618,250 1,285,980 208.0% 545,500 62,755 11.5% 2,455,220
Convention Center Cap Impr 537,767 220,500 267,300 121.2% 295,000 173,671 58.9% 631,396
Reserve for Capital Impr 2,667,858 10,728,000 9,099,121 84.8% 12,537,058 8,928,559 71.2% 2,838,420
Stormwater Capital Fund 992,090 320,000 499,313 156.0% 503,424 160,812 31.9% 1,330,591
Wastewater Capital 8,692,828 15,132,000 7,933,749 52.4% 20,455,000 12,968,082 63.4% 3,658,495
Domestic Water Improvement 3,810,836 4,600,000 7,142,591 155.3% 7,150,896 6,588,042 92.1% 4,365,385
Irrigation System Impr 58,847 1,208,500 1,242,263 102.8% 1,073,252 796,777 74.2% 504,333
Total Capital Impr Funds $21,527,952 $52,657,141 $45,304,346 86.0% $62,336,449 $44,099,580 70.7% $22,732,718
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Fund
Exhibit III
RESERVE AND OTHER FUNDS
Actual Revenue Appropriations Ending
Beg Bal Amended Actual Percent Amended Actual Percent Balance
1/1/2013 Budget Revenue Rec'd Budget Exp Exp'd 12/31/2013
Employee Benefit Reserves
Unemployment Comp Res $358,948 $177,000 $190,978 107.9% $293,796 $155,204 52.8% $394,722
Employees Health Ben Res 2,471,682 11,995,000 10,773,410 89.8% 11,628,854 9,945,429 85.5% 3,299,663
Worker's Compensation Res 1,092,471 1,018,000 1,108,976 108.9% 1,244,636 1,131,336 90.9% 1,070,111
Wellness/EAP 126,438 60,000 171,086 285.1% 120,200 117,595 97.8% 179,929
Firemens' Relief and Pension 892,140 1,380,500 1,278,539 92.6% 1,347,493 1,229,569 91.2% 941,110
Total Employee Ben Reserve $4,941,679 $14,630,500 $13,522,989 92.4% $14,634,979 $12,579,133 86.0% $5,885,535
Operating Reserves
Capitol Theatre Reserve 251,922 500 500 100.0% 71,927 71,927 100.0% 180,495
Risk Management Reserve 1,030,191 3,586,000 3,515,618 98.0% 3,846,337 3,706,744 96.4% 839,065
Total Operating Reserve $1,282,113 $3,586,500 $3,516,118 98.0% $3,918,264 $3,778,671 96.4% $1,019,560
Trust and Agency Funds
Cemetery Trust
Agency Fund-YAKCORPS
Total Other Funds
$612,724 $16,500 $16,472 99.8% $6,300 $6,300 100.0% $622,896
392,200 511,700 528,073 103.2% 587,004 587,004 100.0% 333,269
$1,004,924 $528,200 $544,545 103.1% $593,304 $593,304 100.0% $956,165
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Fund
Exhibit IV
BOND REDEMPTIONS FUNDS
Actual Revenue Appropriations Ending
Beg Bal Amended Actual Percent Amended Actual Percent Balance
1/1/2013 Budget Revenue Rec'd Budget Exp Exp'd 12/31/2013
GO Bond Redemption
LID Guaranty $60,164 $50 $50 100.0% $0 $35,000 n/a $25,214
2002 GO Convention Center 168,506 1,017,594 1,007,938 99.1% 1,017,000 1,017,000 100.0% 159,444
Various GO Bonds 14,739 1,286,989 1,175,604 91.3% 1,290,844 1,181,317 91.5% 9,026
1994 GO LTD Police & Streets 96,934 512,000 418,691 81.8% 515,625 515,625 100.0% 0
1995 GO Street, Parks & Fire 189,345 293,000 291,930 99.6% 294,600 294,600 100.0% 186,675
1996 GO LTD - Cony Center 65,220 428,750 428,750 100.0% 428,315 428,315 100.0% 65,655
LID Debt Service Control 54,154 274,000 198,879 72.6% 285,000 196,032 68.8% 57,001
Total G.O. Bond Redemption $649,062 $3,812,383 $3,521,842 92.4% $3,831,384 $3,667,889 95.7% $503,015
Water/Sewer Revenue Bond Redemption
1997 Water Rev Bond Res $271,407 $400 $400 100.0% $0 $0 n/a $271,807
1996 Revenue Bond Reserve 147,763 700 700 100.0% 0 0 n/a 148,463
Water/Sewer Revenue Bonds 114,528 0 0 n/a 0 0 n/a 114,528
1997 Water Revenue Bonds 4,916 232,725 234,725 100.9% 232,700 232,700 100.0% 6,941
2008 Water/Sewer Rev Bond 1 414,813 414,813 100.0% 414,813 414,813 100.0% 1
Water/Sewer Rev Bond Res 972,700 1,000 1,000 100.0% 0 0 n/a 973,700
2003 Irrigation Bond Red 35,436 321,504 321,504 100.0% 321,504 321,504 100.0% 35,436
2003 Wastewater Bond Red 965 1,158,544 1,158,544 100.0% 1,158,544 1,158,544 100.0% 965
2003 Sewer Rev Bond Res 208,871 0 0 n/a 0 0 n/a 208,871
Total W/S Rev Bond Red $1,756,587 $2,129,686 $2,131,686 100.1% $2,127,561 $2,127,561 100.0% $1,760,712
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