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11/16/2021 04.D. 2021 3rd Quarter Financial Report 1 14-4111\l'A • i rr 11 i � "i enc u nrry 1 BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 4.D. For Meeting of: November 16, 2021 ITEM TITLE: 2021 3rd Quarter Financial Report SUBMITTED BY: Jennifer Ferrer Santa Ines, Director of Finance and Budget SUMMARY EXPLANATION: The Third Quarter Financial Report for 2021 is attached and consists of the following: 1. Summary Narrative 2. Financial Reports • Cash Balance Trend • Material Revenue Performance Charts • Fund Balance Summary • Revenue and Expenditure Comparison to Budget and Actual Year-to-Date • General Government Revenue Historical Year-to-Date Detail • General Government Expenditure Historical Year-to-Date Detail • Other Funds - Revenue, Expenditure and Fund Balance Summary ITEM BUDGETED: NA STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: Review only. Submitted for routine transparency and accountability. ATTACHMENTS: Description Upload Date Type ID 2021 3rd Quarter rinancial Report 11/4/2021 Backup Material 2 .4,-„ -----4;I:.)4N, li4....''. .'�'��''.,, FINANCE DEPARTMENT tr,... ii..:4 ,;,,, Icor vy... ...,;,4 ',/, *is ',hi��RPOR AT ED•���� .114,,,VV,,x,,,,,,, To: Honorable Mayor and Members of the City Council Bob Harrison,City Manager From: Jennifer Ferrer-Santa Ines,Director of Finance &Budget Kimberly Domine,Financial Services Manager Kathy Miles,Financial Services Technician-Payroll Date: November 16,2021 Subject: 2021 3rd Quarter Financial Update This financial update is a preliminary,unaudited,report for the 3rd quarter ended September 30,2021, three quarters,or 75%of the year,intended to inform and assist governance decisions for future planning. In total, city revenues are at 57.3% of budget and expenditures are at 52.7%of budget. The timing of Property Tax Revenue, coming in,and the timing of Capital Fund Expenditures,going out,are normally the biggest reasons that revenues and expenditures are below 75%at this point in the year. Cash position and revenue charts on the following pages provide insight into the monitoring of revenue and the management of expenses. The Quarterly Treasury report,a separate report also available on the City's website,provides further cash and investment analysis. This report is a progress report until the annual independent audit is completed because complete accrual analysis for invoices not yet received is only done at year-end,not quarterly. COVID-19's Economic Effects on City Revenues The American Rescue Plan Act (ARPA) funds will positively impact 2021 as details become known, increasing budgeted revenues and expenses and will affect"normal"budgetary percentages in the accompanying reports uniquely as this year progresses. The economic effects of COVID-19, and the CARES Act,affected 2020 uniquely,complicating comparison to prior year. As has been monitored and reported continuously,there was a substantial economic effect on the City's budgeted revenues: • Sales Tax had significant downturns during May and June of 2020,and has since recovered to exceed 2021 budgeted levels,achieving 13.9%above budget through September. • Lodging Tax had a significant downturn in 2020 due to the economic effects of the COVID-19 pandemic and began 2021 with a January remittance that was 53%of January 2019 (pre-COVID). Lodging Tax is at 67.3%of budget at the 3/4 mark in the year. • Building Permits,Fire Inspection Fees and Gambling revenues all decreased during 2020, are continuing below budget in 2021 and are being monitored monthly. 3 General Fund's Performance to Budget General Fund Revenues in total are at 68.8%;the largest components are: • Intergovernmental Revenues(grants, excise taxes and other state and government distributions)are at 70.7%mostly due to the American Rescue Plan funds. • Sales Tax is at 83.7%. • Criminal Justice Tax is at 85.7%. • Gambling Tax is at 55.2%. • Building Permits are at 59.4%. • Fire Inspection Fees are at 6.7%due to low inspection volume during COVID. General Fund Expenditures in total are at 63.8%. The largest component variances are: • Interfund Distributions (transfers from the General Fund to other funds)are at(58.2)%. As of 2021 City Service charges should be shown as a reimbursement of expense instead of a revenue per the State Auditor. • Indigent Defense is currently at 78.6%. • Clean City Program is at 2.0%due to the move from the General Fund to a Special Revenue Fund (136) midway through 2021. The Clean City General fund expenditures will be moved via journal entry in the fourth quarter. 4 CASH POSITION AND REVENUE UPDATE City staff monitors revenues and manages expenses continuously. Cash &Investments As a current over-all indicator,the 4-year historic core city-wide cash and investments balance trend shows September at$115.2 million. Each month is best compared to the same month in previous years to account for seasonality and other annual events. CASH AND INVESTMENTS HISTORY $125,000,000 -� $100,000,000 - - EE -000 -000000 - so 1�,��1�� ti,��11� ��01�� '1�' 1�1�1\� �1\,19 �,011� �11��L�1�, �1\1r0 �,�01�0 �1�1�01�,�1�0 1,\1�� 01r> �e,�,\Sales Tax This is the largest single funding source for the city. The 3rd quarter cumulative of$19.9 million exceeds budget by$2.8 million or 13.9%and is greater than prior year by$3.5 million. Some of this increase may be due to purchases funded by COVID response activity or one-time stimulus check payments from the government. The city receives sales tax from the State on a 2-month lag from the actual point-of-sale transactions so these figures are for actual transactions through July. The graph below shows General Fund Sales Tax revenues (General Sales Tax(001) and Criminal Justice Sales Tax (003)-see p. 9). SALES TAX REVENUE $30,000,000 — $20,000,000 — $10,000,000 — -- $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 3 5 Property Tax The 3rd quarter cumulative revenue tracked roughly on budget. The 2021 budget increased by$316,666 due to assessed valuations(a combination of the existing cap at 1%and new growth). The following chart includes city-wide property tax revenue. PROPERTY TAX REVENUE $30,000,000 — $20,000,000 — — — — $10,000,000 — $0 1 , �� 1 ��1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ] Budget Cumulative I Current Year Cumulative Prior Year Cumulative Water The 3rd quarter cumulative revenue of$8.8 million through September is up$776,962. A rate increases of 5%went into effect in January of 2021. WATER REVENUE $15,000,000 — $10,000,000 — ' $5,000,000 — $0 I 1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec A Budget Cumulative I Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 4 6 Wastewater The 3rd quarter cumulative revenue of$16.4 million is up$1.3 million over budget and $1.2 million over prior year. An average 3.2%rate increase was approved by Council for 2022. A new cost of service study will be taking place in 2022. WASTEWATER REVENUE $30,000,000 - $20,000,000 - $10,000,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Stormwater The 3rd quarter cumulative operating assessments of$2.6 million are up$157,936 over budget and $155,530 over prior year. For the provision of stormwater compliance and stormwater collection services a tax is levied against the total assessments collected from annual stormwater assessment charges at the current rate of fifteen percent. The current year cumulative amount will be adjusted at year end as needed to account for the timing of payments and the intergovernmental nature of this revenue. STORMWATER REVENUE $5,000,000 - I I $4,000,000 - - - $3,000,000 - • $2,000,000 — - $1,000,000 - $0 I 1 1 i I Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 5 7 Refuse The 3rd quarter cumulative revenue of$5.2 million is up$441,476 over budget and $452,690 over prior year. An average 3.5%rate increase in Refuse rates was approved by Council for each year 2021 through 2025 as reflected in the 2021 budget. REFUSE REVENUE $7,500,000 — — — $5,000,000 — $2,500,000 — $0 1 1 1 1 I 1 1 1 1 I Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Lodging Tax The 3rd quarter cumulative revenue of$839,909 is down$181,673 under budget and up$191,439 compared to prior year. The comparison of each month's revenue to the same month in prior year is improving. In the coming months through 2021 revenue is expected to fall short of prior year due to the continuing economic effects of the COVID-19 pandemic. LODGING TAX REVENUE $1,500,000 , $1,000,000 — $500,000 — Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative S Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 6 8 Real Estate Excise Tax(REET I &II, combined) The 3rd quarter cumulative revenue of$2.5 million is up$585,052 over budget and up$810,384 over prior year. The current increase is attributed to a higher than estimated real estate market,with home owners capital;ling on strong demand for housing. REET 1/REET2 $3,000,000 - $2,000,000 - $1,000,000 - $0 1 i I I I i i I Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Building Permits The 3rd quarter cumulative revenues of$510,795 are down$170,575 below budget and$34,593 above prior year. BUILDING PERMIT REVENUE $1,000,000 - $750,000 - ::::::: -- $0 1 1 1 I 1 1 1 1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative f Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 7 9 CITY-WIDE FUND BALANCE SUMMARY CHANGE IN FUND BALANCE 2021 As of September 30 Beginning 2021 2021 Ending Balance Actual Rev. Actual Exp. Balance General Fund $ 13,295,598 $ 48,183,754 $ 45,142,860 $ 16,336,492 Parks and Recreation 1,060,444 3,303,613 3,978,242 385,815 Street&Traffic Operations 915,423 3,890,883 4,352,745 453,561 General Government Subtotal 15,271,465 55,378,250 53,473,847 17,175,868 Other Governmental Operating Funds 5,420,249 22,279,375 10,814,076 16,885,548 Government Capital Funds 19,731,255 9,599,892 20,711,477 8,619,670 Enterprise Operating Funds 29,766,821 44,624,947 38,457,955 35,933,813 Enterprise Capital Funds 33,097,613 8,487,554 8,490,558 33,094,609 Internal Service Funds 3,648,804 5,373,385 5,042,020 3,980,169 Employee Benefit Reserve 5,736,218 11,110,100 13,286,327 3,559,991 Risk Management Reserves 3,466,508 4,030,052 3,203,137 4,293,423 Debt Service&Agency Funds 2,619,778 4,667,531 2,916,437 4,370,872 Total1 $ 118,758,711 $ 165,551,086 $ 156,395,834 $ 127,913,963 This is a progress report to provide transparency and accountability. This table shows fund balances by fund at this point in time. This is intended to provide transparency and accountability but is a snapshot, not a reliable measure of predicted year-end. 1 Due to rounding,some totals in the above chart may not correspond with the sums in other charts within this document. Finance Quarterly Report-Page 8 10 CITY WIDE REVENUES & EXPENDITURES BY FUND GROUPING REVENUE COMPARISON (Budget vs.Actual) 2020 2021 Annual Annual Amended Actual % Amended Actual % Budget as of 9/30 Rec'd Budget as of 9/30 Rec'd General $ 75,227,693 $ 47,380,748 63.0% $ 69,985,616 $ 48,183,754 68.8 Parks and Recreation 5,551,742 3,069,146 55.3 % 5,745,833 3,303,613 57.5 Street&Traffic Operations 8,661,450 5,469,514 63.1 % 6,353,125 3,890,883 61.2 General Government Subtotal 89,440,885 55,919,408 62.5 % 82,084,574 55,378,250 67.5 % Other Government Operating Funds 18,028,690 8,435,285 46.8% 34,526,215 22,279,375 64.5 % Government Capital Funds 38,183,760 17,479,310 45.8% 35,769,315 9,599,892 26.8 Enterprise Operating Funds 66,779,346 42,255,375 63.3 % 68,198,108 44,624,947 65.4 Enterprise Capital Funds 13,009,100 5,248,427 40.3 % 31,865,671 8,487,554 26.6 Internal Service Funds 8,457,087 5,427,670 64.2% 7,674,739 5,373,385 70.0 % Employee Benefit Reserves 16,480,664 10,766,784 65.3 % 16,293,943 11,110,100 68.2 % Risk Management Reserve 5,037,870 3,141,418 62.4% 5,126,916 4,030,052 78.6 % Debt Service&Agency Funds 16,200,206 12,178,464 75.2% 7,495,303 4,667,531 62.3 Total $ 271,617,608 $ 160,852,141 59.2% $ 289,034,784 $ 165,551,086 57.3 EXPENDITURE COMPARISON (Budget vs.Actual) 2020 2021 Annual Annual Amended Actual % Amended Actual % Budget as of 9/30 Exp'd Budget as of 9/30 Exp'd General $ 74,784,998 $ 47,574,754 63.6% $ 70,796,484 $ 45,142,860 63.8 Parks and Recreation 5,612,841 3,146,950 56.1 % 5,861,436 3,978,242 67.9 Street&Traffic Operations 8,694,368 5,687,863 65.4% 6,352,464 4,352,745 68.5 General Government Subtotal 89,092,207 56,409,567 63.3 % 83,010,384 53,473,847 64.4 % Other Government Operating Funds 18,408,008 9,055,234 49.2% 27,803,636 10,814,076 38.9 % Government Capital Funds 35,772,446 9,719,441 27.2% 41,644,564 20,711,477 49.7 Enterprise Operating Funds 70,890,869 37,762,569 53.3 % 67,280,225 38,457,955 57.2 Enterprise Capital Funds 25,268,221 6,550,272 25.9% 37,588,968 8,490,558 22.6 Internal Service Funds 10,791,242 6,014,336 55.7% 9,910,780 5,042,020 50.9 % Employee Benefit Reserves 2 16,242,798 10,288,740 63.3 % 16,433,061 13,286,327 80.9 % Risk Management Reserve 5,047,422 2,927,848 58.0% 5,688,793 3,203,137 56.3 % Debt Service&Agency Funds 16,140,617 11,117,479 68.9% 7,554,302 2,916,437 38.6 Total $ 287,653,830 $ 149,845,486 52.1 % $ 296,914,713 $ 156,395,834 52.7 2 Medical claims have been higher than anticipated,likely due to COVID-19. Finance Quarterly Report-Page 9 11 GENERAL GOVERNMENT REVENUE DETAIL GENERAL GOVERNMENT REVENUES 2021 Revenues as of September 30 Amended Percent General Fund 2019 2020 2021 Budget Rec'd Property Tax $ 6,366,319 $ 6,198,695 $ 5,435,773 $ 9,179,830 59.2% General Sales Tax 13,370,058 13,699,881 16,205,745 19,357,000 83.7% Criminal Justice Sales Tax 2,662,007 2,737,697 3,695,973 4,314,000 85.7% Utility&Franchise Taxes 13,633,317 13,613,808 13,534,460 19,548,135 69.2% Other Taxes 804,169 476,018 611,205 1,073,000 57.0% Licenses and Permits 1,382,086 1,154,048 1,192,784 1,888,700 63.2% Intergov't Revenues 2,746,000 2,866,373 2,893,039 4,089,909 70.7% Charges for Services 5,353,469 5,052,323 2,728,704 7,357,443 37.1 % Fines and Forfeitures 1,249,413 825,060 1,061,170 1,862,800 57.0% Other Revenue 1,149,772 756,845 824,901 1,314,800 62.7% Total General Fund 48,716,610 47,380,748 48,183,754 69,985,617 68.8% Parks&Recreation Property Tax 1,464,645 1,626,061 1,610,423 2,702,528 59.6% Intergov't Revenues 1 46,656 47,253 33,756 69,330 48.7% Charges for Services 684,945 174,596 547,114 955,250 57.3 % Other Revenue 1,295,862 1,221,236 1,112,320 2,018,725 55.1 % Total Parks&Recreation 3,492,108 3,069,146 3,303,613 5,745,833 57.5 % Streets Property Tax 1,785,794 2,311,760 2,569,704 4,392,125 58.5 % Intergov't Revenues 1,115,342 953,504 1,024,582 1,408,000 72.8% Charges for Services 379,796 252,350 254,970 505,000 50.5 % Other Revenue 92,578 1,951,900 41,627 48,000 86.7% Total Streets 3,373,510 5,469,514 3,890,883 6,353,125 61.2% Total General Government $ 55,582,228 $ 55,919,408 $ 55,378,250 $ 82,084,575 67.5 % Note: Year to date revenues above are consistent with historical trends with the exception of those noted in the footnotes. 1 Intergovernmental revenues are affected by the timing of grant reimbursements to the City. Finance Quarterly Report-Page 10 12 GENERAL G 4 VERNMENT EXPENDITURE DETAIL GENERAL FUND EXPENDITURES 2021 Expenditures as of September 30 Amended Percent 2019 2020 2021 Budget Exp'd Police $ 21,143,411 $ 20,370,636 $ 20,477,245 $ 30,324,726 67.5 % Fire 11,027,662 11,203,383 11,549,026 15,742,516 73.4% Information Technology 2,378,687 2,644,283 2,699,881 4,371,084 61.8% Finance 1,226,141 1,902,105 1,745,126 2,515,279 69.4% Interfund Distributions 1 1,765,911 1,501,831 (1,287,119) 2,212,053 (58.2)% Legal 1,306,961 1,382,075 1,390,740 2,057,127 67.6% Code Administration 1,432,587 1,317,882 1,350,466 1,958,326 69.0% Municipal Court 1,168,928 1,132,757 1,213,011 1,763,503 68.8% City Management 435,656 397,842 597,769 1,344,243 44.5 % Firemen's Relief/Pension 910,660 953,960 825,266 1,176,390 70.2% Indigent Defense 785,431 807,274 825,238 1,050,000 78.6% Engineering 502,169 491,929 597,965 955,317 62.6% Police Pension 601,808 574,836 531,988 872,197 61.0% Human Resources 557,489 542,373 524,416 818,769 64.0% Planning 516,194 603,142 549,787 796,695 69.0% City Clerk/Records 337,429 408,782 364,571 791,632 46.1 % Purchasing 456,431 358,297 312,389 447,309 69.8% Clean City Program 2 - 140,684 1,800 91,399 2.0% City Hall Facility 400,988 245,031 274,439 435,460 63.0% Economic Development 264,598 150,869 227,414 342,145 66.5 % City Council 190,745 187,721 187,484 284,786 65.8% Parking 121,430 116,365 81,875 275,239 29.7% Intergovernmental 122,825 140,697 102,083 170,288 59.9% Total General Fund 47,654,141 47,574,754 45,142,860 70,796,483 63.8% Parks&Recreation Fund 3,778,065 3,146,950 3,978,242 5,861,436 67.9% Street&Traffic Ops. 4,096,928 5,687,863 4,352,745 6,352,464 68.5 % Total General Government $ 55,529,134 $ 56,409,567 $ 53,473,847 $ 83,010,383 64.4% 1 As of 2021 City Service charges should be shown as a reimbursement of expense instead of a revenue per the State Auditor. 2 Expenditures commenced following the Nov 2019 Clean Cities funding increase in solid waste utility tax. In 2021,the Clean City Program was moved to its own fund(136). Any expenditures showing within this fund in 2021 will be moved by journal entry as needed. Finance Quarterly Report-Page 11 13 OTHER FUNDS DETAIL OTHER GOVERNMENT OPERATING FUNDS 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Economic Development $ 53,014 $ - $ - $ 53,014 Neighborhood Development 1 453,104 351,372 1,743,946 (939,470) Community Relations 881,473 531,926 532,381 881,018 Clean City Program - 250,735 233,399 17,336 Cemetery 133,228 228,877 271,099 91,006 Emergency Services 2 99,131 970,270 1,114,153 (44,752) Public Safety Communication 910,846 3,247,921 3,208,517 950,250 Police Grants 1,036,623 186,469 287,816 935,276 PBIA(Park/Bus Improvement Area) 75,810 130,005 85,730 120,085 Trolley 48,500 9,498 15,145 42,853 Front Street Bus Improvement Area 4,278 2,460 - 6,738 Convention Center(Tourist Promo)3 184,296 1,042,507 1,273,178 (46,375) Capitol Theatre 53,872 327,345 368,014 13,203 PFD-Convention Center 1,228,948 856,850 870,606 1,215,192 Tourism Promotion Area 53,971 396,281 335,787 114,465 PFD-Capitol Theatre 203,157 649,119 474,305 377,971 American Rescue Plan Act(ARPA)4 - 13,097,740 - 13,097,740 Total Other Gov't Operating Funds $ 5,420,251 $ 22,279,375 $ 10,814,076 $ 16,885,550 GOVERNMENTAL CAPITAL FUNDS 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Arterial Street $ 2,049,246 $ 1,732,405 $ 1,281,016 $ 2,500,635 Central Bus District Capital 72,576 4,771 17,415 59,932 Capitol Theatre Construction 259,770 45,000 47,212 257,558 Yakima Redevelopment Area 5 736,562 3,040,233 11,235,699 (7,458,904) Parks&Recreation Capital 391,355 27,035 70,603 347,787 Fire Capital 381,861 112,825 22,991 471,695 Law and Justice Capital 1,025,340 349,325 591,524 783,141 Public Works Trust Construction 3,544,984 1,299,369 711,372 4,132,981 REET 2 Capital 2,004,985 1,251,246 1,090,492 2,165,739 Street Capital 3,833,625 1,484,226 1,939,627 3,378,224 Convention Center Cap Improvement 5,043,523 174,872 3,490,276 1,728,119 Reserve for Capital Improvement 387,427 78,586 213,249 252,764 Total Gov't Capital Funds $ 19,731,254 $ 9,599,893 $ 20,711,476 $ 8,619,671 1 The grant reimbursement to offset expenditures have not yet been received,causing the ending fund balance to be negative. 2 The EMS Levy revenues to offset expenditures have not yet been received,causing the ending fund balance to be negative. 3 City Council approved a$500,000 transfer in the third quarter to the Convention Center to offset decreased revenue due to COVID.This transfer will be processed in the 4th quarter due to timing. 4 The American Rescue Plan Act(ARPA)Special Revenue Fund(180)was created mid-year to account for funds received from the Office of Financial Management(OFM)to aid in the recovery from the budgetary,economic,and financial impacts of the COVID-19 pandemic. 5 YRDA capital fund shows a negative ending fund balance due to the extensive reporting requirements of a DOE grant reimbursement of approximately$7.6 million. This reimbursement is scheduled for receipt in the 4th quarter of 2021. Finance Quarterly Report-Page 12 ENTERPRISE OPERATING FUNDS 14 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Airport Operating $ 503,491 $ 1,318,400 $ 1,163,440 $ 658,451 Stormwater Operating 1,655,543 2,211,201 2,420,289 1,446,455 Transit Operating 7,255,678 5,061,480 6,396,685 5,920,473 Refuse 2,927,456 6,448,535 5,601,491 3,774,500 Wastewater Operating 11,303,354 18,622,890 14,477,954 15,448,290 Water Operating 4,808,296 9,378,615 6,997,567 7,189,344 Irrigation 1,313,004 1,583,827 1,400,529 1,496,302 Total Enterprise Operating Funds $ 29,766,822 $ 44,624,948 $ 38,457,955 $ 35,933,815 ENTERPRISE CAPITAL FUNDS 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Airport Capital 6 $ (1,547,300) $ 1,056,504 $ 1,226,076 $ (1,716,872) Stormwater Capital 4,119,339 609,000 971,647 3,756,692 Transit Capital 7,110,632 1,032,107 34,402 8,108,337 Wastewater Facilities Capital 4,550,061 520,167 398,096 4,672,132 Wastewater Construction Capital 4,622,996 750,000 1,933,793 3,439,203 Wastewater Capital 4,924,726 1,077,875 2,155,464 3,847,137 Water Capital 4,597,467 1,200,000 160,289 5,637,178 Irrigation Capital 4,719,692 2,241,901 1,610,792 5,350,801 Total Enterprise Capital Funds $ 33,097,613 $ 8,487,554 $ 8,490,559 $ 33,094,608 INTERNAL SERVICE FUNDS 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Equipment Rental $ 2,679,419 $ 2,880,861 $ 2,333,518 $ 3,226,762 Environmental 581,383 26,563 165,587 442,359 Public Works Administration 382,605 1,023,308 913,361 492,552 Utility Services 7 5,398 1,442,653 1,629,554 (181,503) Total Enterprise Operating Funds $ 3,648,805 $ 5,373,385 $ 5,042,020 $ 3,980,170 6 The grant reimbursement to offset expenditures have not yet been received,causing the ending fund balance to be negative. 7 The ending fund balance may be negative due to the timing of journal entries not yet recorded. Finance Quarterly Report-Page 13 EMPLOYEE BENEFIT RESERVES 15 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Unemployment Comp Reserve $ 306,314 $ 169,988 $ 95,044 $ 381,258 Employees Health Ben Reserve 8 4,352,352 9,642,198 11,437,594 2,556,956 Worker's Comp Reserve 968,162 1,297,915 1,730,298 535,779 Wellness/EAP 109,390 - 23,392 85,998 Total Employee Benefit Reserve $ 5,736,218 $ 11,110,101 $ 13,286,328 $ 3,559,991 RISK MANAGEMENT RESERVE 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Risk Management Reserve $ 3,466,508 $ 4,030,052 $ 3,203,137 $ 4,293,423 DEBT SERVICE &AGENCY FUNDS 2021 As of September 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance GO Bond Redemption 2002 GO Convention Center 217,154 857,892 326,848 748,198 2005 GO Various Bonds 9 17,239 2,146,734 2,152,607 11,366 1996 GO LTD-Convention Center 44,684 - - 44,684 Total GO Bond Redemption $ 279,077 $ 3,004,626 $ 2,479,455 $ 804,248 Water/Sewer Revenue Bond Redemption WW Rev Bond&2008 Debt Service $ 12,485 $ 193,425 $ 29,938 $ 175,972 Irrigation Bond Debt Service 27,914 136,275 38,563 125,626 WW Rev Bond Rsv&2012 Debt Svc 1,599,415 582,100 43,067 2,138,448 Total W/S Rev Bond Redemption $ 1,639,814 $ 911,800 $ 111,568 $ 2,440,046 Agency Funds YakCorps (16,781) 739,425 325,415 397,229 Cemetery Trust 717,668 11,681 - 729,349 Total Agency Funds $ 700,887 $ 751,106 $ 325,415 1,126,578 Total Debt Service&Agency Funds $ 2,619,778 $ 4,667,532 $ 2,916,438 $ 4,370,872 8 2021 expenditures reflect claims at 82%through September. 9 Monthly transfers of revenue are scheduled to accommodate annual debt service which may result in a negative ending fund balance.. 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