HomeMy WebLinkAbout03/01/2022 06.B. 2021 4th Quarter Financial Report 1
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 6.B.
For Meeting of: March 1, 2022
ITEM TITLE: 2021 4th Quarter Financial Report
SUBMITTED BY: Jennifer Ferrer-Santa Ines, Director of Finance and Budget
SUMMARY EXPLANATION:
The Fourth 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
This is an informational update, pending completion of year-end close process and independent
audit.
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
0 4th Quarter Financial Report 2/17/2022 Backup Material
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hi�RPOR AT ED--.-.•,���
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: March 1,2022
Subject: 2021 4th Quarter Financial Update
This financial update is a preliminary,unaudited,report through the 4th quarter,ended December 31,
2021,intended to inform and assist governance decisions for future planning. In total,city revenues are
at 87.7%of budget and expenditures are at 77.0%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 100%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 not a final report,as the annual independent audit will not be completed until later in 2022,
which may affect final numbers.
COVID-19's Economic Effects on City Revenues
The American Rescue Plan Act (ARPA) funds have positively impacted 2021,increasing budgeted
revenues and expenses. ARPA has affected "normal"budgetary percentages in the accompanying
reports,as the economic effects of COVID-19 and the CARES Act affected both 2020 and 2021 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 13.7%above budget through December,which may have
been funded by stimulus checks.
• 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 now holding steady at 102.8%of budget at the end of the year.
3
• Building Permits and Fire Inspection Fees decreased during 2020 and are continued below budget
in 2021,and are being monitored monthly.
• Gambling revenues,while still below budget,have recovered to almost 2021 budgeted levels at
the end of the year.
General Fund's Performance to Budget
General Fund Revenues in total are at 95.0%;the largest components are:
• Sales Tax is at 112.3%.
• Criminal Justice Tax is at 113.1%.
• Charges for Services at year end are operating at 47.2%,largely due to Fire Inspection Fees,
which are at 8.1% due to low inspection volume during COVID and changes in accounting
procedures per the State Auditor. This change was implemented by the City towards the end
of the year,consequently,there was not time to update the Amended Budget with City
Council before the end of the year.
• Gambling Tax is at 85.5%.
• Building Permits are at 86.5%.
General Fund Expenditures in total are at 86.9%. The largest component variances are:
• Interfund Distributions (transfers from the General Fund to other funds)are at(62.0)%. As of
2021,City Service charges are required to be shown as a reimbursement of expense,instead of
a revenue per the State Auditor. This change was implemented by the City towards the end
of the year,consequently,there was not time to update the Amended Budget with City
Council before the end of the year.
• Indigent Defense is currently at 104.5%due to a larger caseload than anticipated.
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 December at$130.1 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
$150,000,000 -F
$125,000,000 --
$100,000,000
$ , , - -
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Sales Tax
This is the largest single funding source for the city. The 4th quarter cumulative revenue of$26.6 million
exceeds budget by$3.2 million or 13.7%and is greater than prior year by$3.7 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 October. The graph
below shows General Fund Sales Tax revenues (General Sales Tax(001) and Criminal Justice Sales Tax
(003)-see General Government Revenues,page 10 .
GENERAL FUND 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
a Budget Cumulative S Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 3
5
Property Tax
The 4th quarter cumulative Property Tax 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 construction
growth). The following chart includes city-wide property tax revenue.
PROPERTY 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 U Current Year Cumulative Prior Year Cumulative
Water
The 4th quarter cumulative revenue of$11.3 million for Water through December is up$442,486. A rate
increases of 5%went into effect in January of 2021.
WATER REVENUE
$15,000,000
$10,000,000 '
$5,000,000
$o
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
A Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 4
6
Wastewater
The 4th quarter cumulative revenue of$22.0 million is up$734,319 over budget and $577,680 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 -
$0 1 I
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Stormwater
The 4th quarter cumulative operating assessments of$4.0 million are down$36,929 under budget and
$40,925 under 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 - 71° - 111
AI
$2,000,000 — j
$1,000,000 - yy
$0 I 1 I i i i i i 1 1
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 4th quarter cumulative Refuse revenue of$6.9 million is up$268,621 over budget and $284,414 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. An increase of 5%in the in lieu tax for 2022 was also
approved by City Council on November 1,2021,to take effect in 2022 for the Clean City Program,a
function of the Refuse Department.
REFUSE REVENUE
$7,500,000 -
$5,000,000
$2,500,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative • Current Year Cumulative Prior Year Cumulative
Lodging Tax
The 4th quarter cumulative revenue of$1.3 million is up$34,348 over budget and up$490,421 compared
to prior year. The comparison of each month's revenue to the same month in prior year improved
through the last six months of 2021,showing steady improvement for the first time in almost two years.
LODGING TAX REVENUE
$1,500,000 - i
$1,000,000 -
$500,000 -
$0
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 6
8
Real Estate Excise Tax(REET I &II, combined)
The 4th quarter cumulative revenue for REET of$3.5 million is up$659,102 over budget and up$995,672
over prior year. The current increase is attributed to a higher than estimated real estate market,with
home owners capitalizing on strong demand for housing.
REET 1/REET2
$4,000,000 -
$3,000,000 -
$2,000,000 -
$1,000,000 _ -
$0 r 1 1 1 I 1 1 ��
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Building Permits
The 4th quarter cumulative revenues of$743,712 are down$116,233 below budget and $142,667 above
prior year.
BUILDING PERMIT REVENUE
$1,000,000 -
$750,000 -
$500,000 -
I
$250,000 - -
$0 - 1 I I I 1 1 I-
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 December 31
Beginning 2021 2021 Ending
Balance Actual Rev. Actual Exp. Balance
General Fund $ 13,295,598 $ 66,451,841 $ 61,636,410 $ 18,111,029
Parks and Recreation 1,060,444 5,297,235 5,254,312 1,103,367
Street&Traffic Operations 915,423 5,856,693 4,902,795 1,869,321
General Government Subtotal 15,271,465 77,605,769 71,793,517 21,083,717
Other Governmental Operating Funds 5,420,249 28,500,020 17,980,586 15,939,683
Government Capital Funds 19,731,255 17,968,311 25,591,946 12,107,620
Enterprise Operating Funds 29,766,821 61,339,949 56,323,982 34,782,788
Enterprise Capital Funds 33,097,613 15,719,842 14,041,526 34,775,929
Internal Service Funds 3,648,804 8,195,009 8,284,941 3,558,872
Employee Benefit Reserve 5,736,218 14,767,419 16,152,190 4,351,447
Risk Management Reserves 3,466,508 5,432,524 4,003,455 4,895,577
Debt Service&Agency Funds 2,619,778 12,829,145 11,691,442 3,757,481
Total1 $ 118,758,711 $ 242,357,988 $ 225,863,585 $ 135,253,114
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 12/31 Rec'd Budget as of 12/31 Rec'd
General $ 75,227,693 $ 67,479,453 89.7% $ 69,979,616 $ 66,451,841 95.0
Parks and Recreation 5,551,742 4,843,876 87.2% 5,745,833 5,297,235 92.2 %
Street&Traffic Operations 8,661,450 8,073,858 93.2% 6,353,125 5,856,693 92.2 %
General Government Subtotal 89,440,885 80,397,187 89.9% 82,078,574 77,605,769 94.6 %
Other Government Operating Funds 18,028,690 13,335,561 74.0% 34,206,215 28,500,020 83.3
Government Capital Funds 38,183,760 22,866,406 59.9% 23,266,690 17,968,311 77.2 %
Enterprise Operating Funds 66,779,346 61,591,739 92.2% 68,198,108 61,339,949 89.9 %
Enterprise Capital Funds 13,009,100 7,298,727 56.1 % 31,865,671 15,719,842 49.3 %
Internal Service Funds 8,457,087 7,254,659 85.8% 7,715,777 8,195,009 106.2
Employee Benefit Reserves 16,480,664 15,163,382 92.0% 16,293,943 14,767,419 90.6
Risk Management Reserve 5,037,870 4,396,940 87.3 % 5,126,916 5,432,524 106.0
Debt Service&Agency Funds 2 16,200,206 15,251,649 94.1 % 7,495,303 12,829,145 171.2 %
Total $ 271,617,608 $ 227,556,250 83.8% $ 276,247,197 $ 242,357,988 87.7%
EXPENDITURE COMPARISON
(Budget vs.Actual)
2020 2021
Annual Annual
Amended Actual % Amended Actual %
Budget as of 12/31 Exp'd Budget as of 12/31 Exp'd
General $ 74,784,998 $ 64,941,376 86.8% $ 70,950,328 $ 61,636,410 86.9
Parks and Recreation 5,612,841 4,449,770 79.3 % 5,861,436 5,254,312 89.6
Street&Traffic Operations 8,694,368 7,337,581 84.4% 6,352,464 4,902,795 77.2
General Government Subtotal 89,092,207 76,728,727 86.1 % 83,164,228 71,793,517 86.3 %
Other Government Operating Funds 18,408,008 13,623,710 74.0% 29,723,343 17,980,586 60.5
Government Capital Funds 35,772,446 17,023,218 47.6% 35,397,699 25,591,946 72.3
Enterprise Operating Funds 70,890,869 52,456,446 74.0% 67,535,670 56,323,982 83.4
Enterprise Capital Funds 25,268,221 9,689,056 38.3 % 37,588,968 14,041,526 37.4 %
Internal Service Funds 10,791,242 7,746,749 71.8% 9,910,780 8,284,941 83.6 %
Employee Benefit Reserves 16,242,798 14,161,537 87.2% 16,933,061 16,152,190 95.4 %
Risk Management Reserve 5,047,422 3,652,108 72.4% 5,688,793 4,003,455 70.4
Debt Service&Agency Funds 2 16,140,617 14,772,359 91.5 % 7,554,302 11,691,442 154.8
Total $ 287,653,830 $ 209,853,910 73.0% $ 293,496,844 $ 225,863,585 77.0
2 Fund 633,a Custodial Fund,was added at the end of 2021,due to updated reporting requirements,consequently,there was not time for an
updated Amended Budget to be approved by City Council.
Finance Quarterly Report-Page 9
11
GENERAL GOVERNMENT REVENUE DETAIL
GENERAL GOVERNMENT REVENUES
2021
Revenues as of December 31 Amended Percent
General Fund 2019 2020 2021 Budget Rec'd
Property Tax $ 10,174,747 $ 10,289,701 $ 8,886,146 $ 9,179,830 96.8%
General Sales Tax 18,266,446 19,076,166 21,744,106 19,357,000 112.3 %
Criminal Justice Sales Tax 3,631,802 3,839,176 4,880,222 4,314,000 113.1 %
Utility&Franchise Taxes 18,240,863 18,482,716 19,042,160 19,548,135 97.4%
Other Taxes 1,043,835 760,317 937,377 1,073,000 87.4%
Licenses and Permits 1,751,787 1,607,364 1,711,620 1,888,700 90.6%
Intergov't Revenues 3,762,209 7,379,313 3,664,059 4,089,909 89.6%
Charges for Services r 6,996,747 2,872,647 3,475,121 7,357,443 47.2%
Fines and Forfeitures 1,598,206 1,022,921 1,339,885 1,862,800 71.9%
Other Revenue 1,632,504 2,149,131 771,145 1,308,800 58.9%
Total General Fund 67,099,146 67,479,452 66,451,841 69,979,617 95.0%
Parks&Recreation
Property Tax 2,560,000 2,826,147 2,702,528 2,702,528 100.0%
Intergov't Revenues 2 85,755 70,116 141,732 69,330 204.4%
Charges for Services r 807,068 206,647 647,360 955,250 67.8%
Other Revenue 1,879,057 1,740,965 1,805,615 2,018,725 89.4%
Total Parks&Recreation 5,331,880 4,843,875 5,297,235 5,745,833 92.2%
Streets
Property Tax 3,121,325 4,016,314 4,392,125 4,392,125 100.0%
Intergov't Revenues 1,517,473 1,543,665 1,402,929 1,408,000 99.6%
Charges for Services r 652,852 544,958 4,970 505,000 1.0%
Other Revenue 53,409 1,968,922 56,669 48,000 118.1 %
Total Streets 5,345,059 8,073,859 5,856,693 6,353,125 92.2%
Total General Government $ 77,776,085 $ 80,397,186 $ 77,605,769 $ 82,078,575 94.6%
Note: Year to date revenues above are consistent with historical trends with the exception of those noted
in the footnotes.
1 Charges for Services include the 2021 changes in accounting per the State Auditor. This change was implemented by the City towards the end
of the year,consequently,there was not time to update the Amended Budget with City Council before the end of the year.
2 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 December 31 Amended Percent
2019 2020 2021 Budget Exp'd
Police $ 29,104,250 $ 28,521,699 $ 28,096,806 $ 30,324,726 92.7%
Fire 15,085,424 15,650,247 15,696,356 15,862,516 99.0%
Information Technology 3,413,777 2,739,420 3,601,066 4,371,084 82.4%
Finance 1,660,372 1,278,140 2,322,752 2,515,279 92.3 %
Interfund Distributions 1 2,399,617 2,117,457 (1,371,946) 2,212,053 (62.0)%
Legal 1,741,756 1,720,293 1,821,395 2,057,127 88.5 %
Code Administration 1,915,413 1,813,871 1,811,249 1,958,327 92.5 %
Municipal Court 1,632,967 1,642,758 1,660,088 1,763,503 94.1 %
City Management 599,154 2,479,555 808,941 1,344,243 60.2%
Firemen's Relief/Pension 1,152,205 1,180,451 1,070,557 1,176,390 91.0%
Indigent Defense 1,053,270 1,078,094 1,097,634 1,050,000 104.5 %
Engineering 675,522 735,620 770,890 955,317 80.7%
Police Pension 773,819 730,654 670,852 872,197 76.9%
Human Resources 728,003 493,023 703,136 818,769 85.9%
Planning 705,020 815,926 720,215 796,695 90.4%
City Clerk/Records 686,117 366,023 497,355 791,632 62.8%
Purchasing 688,158 237,338 419,540 447,309 93.8%
Clean City Program 2 10,616 243,350 n/a
City Hall Facility 562,556 359,230 384,541 437,460 87.9%
Economic Development 278,663 152,223 403,252 465,388 86.6%
City Council 243,791 127,494 234,576 284,786 82.4%
Parking 146,411 222,036 114,899 275,239 41.7%
Intergovernmental 146,617 236,474 102,256 170,288 60.0%
Total General Fund 65,403,498 64,941,376 61,636,410 70,950,328 86.9%
Parks&Recreation Fund 4,948,970 4,449,770 5,254,312 5,861,436 89.6%
Street&Traffic Ops. 5,636,166 7,337,581 4,902,795 6,352,464 77.2%
Total General Government $ 75,988,634 $ 76,728,727 $ 71,793,517 $ 83,164,228 86.3 %
1 As of 2021 City Service charges should be shown as a reimbursement of expense instead of a revenue per the State Auditor.This change was
implemented by the City at the end of the fiscal year,consequently,there was not time to update the Amended Budget through City Council
before the end of the year.
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 function in 2021 were moved by journal entry to the new fund.
Finance Quarterly Report-Page 11
13
OTHER FUNDS DETAIL
OTHER GOVERNMENT OPERATING FUNDS
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Economic Development $ 53,014 $ 546,322 $ - $ 599,336
Neighborhood Development 1 453,104 2,074,194 2,573,303 (46,005)
Community Relations 881,473 687,702 706,253 862,922
Clean City Program 2 - 309,968 330,869 (20,901)
Cemetery 133,228 369,973 343,011 160,190
Emergency Services 99,131 1,576,289 1,560,842 114,578
Public Safety Communication 910,846 4,702,566 4,185,573 1,427,839
Police Grants 1,036,623 428,985 516,597 949,011
PBIA(Park/Bus Improvement Area) 75,810 169,674 126,292 119,192
Trolley 48,500 9,498 23,575 34,423
Front Street Bus Improvement Area 4,278 2,860 - 7,138
Convention Center(Tourist Promo) 184,296 1,422,728 1,105,011 502,013
Capitol Theatre 53,872 493,024 472,212 74,684
PFD-Convention Center 1,228,948 1,149,123 1,164,447 1,213,624
Tourism Promotion Area 53,971 588,839 588,839 53,971
PFD-Capitol Theatre 203,157 870,537 670,761 402,933
American Rescue Plan Act(ARPA)3 - 13,097,738 3,613,001 9,484,737
Total Other Gov't Operating Funds $ 5,420,251 $ 28,500,020 $ 17,980,586 $ 15,939,685
GOVERNMENTAL CAPITAL FUNDS
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Arterial Street $ 2,049,246 $ 3,533,767 $ 3,394,153 $ 2,188,860
Central Bus District Capital 72,576 4,892 23,221 54,247
Capitol Theatre Construction 259,770 60,000 49,535 270,235
Yakima Redevelopment Area 4 736,562 7,528,911 11,553,791 (3,288,318)
Parks&Recreation Capital 391,355 39,900 121,554 309,701
Fire Capital 381,861 162,615 57,888 486,588
Law and Justice Capital 1,025,340 550,969 325,745 1,250,564
Public Works Trust Construction 3,544,984 1,851,897 1,012,474 4,384,407
REET 2 Capital 2,004,985 1,761,551 2,267,136 1,499,400
Street Capital 3,833,625 2,125,564 3,180,722 2,778,467
Convention Center Cap Improvement 5,043,523 269,659 3,509,470 1,803,712
Reserve for Capital Improvement 387,427 78,586 96,257 369,756
Total Gov't Capital Funds $ 19,731,254 $ 17,968,311 $ 25,591,946 $ 12,107,619
1 The grant reimbursement to offset Neighborhood Development expenditures has been been received,however,an accrual is still pending to
get a positive ending fund balance..
2 The ending fund balance for the Clean City Programs is pending an accrual for correction.
3 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.
4 YRDA capital fund shows a negative ending fund balance due to the extensive reporting requirements of a DOE grant reimbursement. An
interfund loan and a journal entry are pending to correct the negative fund balance.
Finance Quarterly Report-Page 12
ENTERPRISE OPERATING FUNDS 14
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Operating $ 503,491 $ 1,981,281 $ 1,610,137 $ 874,635
Stormwater Operating 1,655,543 4,062,886 3,978,516 1,739,913
Transit Operating 7,255,678 7,143,667 8,815,214 5,584,131
Refuse 2,927,456 8,700,281 7,847,392 3,780,345
Wastewater Operating 11,303,354 25,255,292 22,267,754 14,290,892
Water Operating 4,808,296 12,145,214 10,001,870 6,951,640
Irrigation 1,313,004 2,051,328 1,803,099 1,561,233
Total Enterprise Operating Funds $ 29,766,822 $ 61,339,949 $ 56,323,982 $ 34,782,789
ENTERPRISE CAPITAL FUNDS
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Capital 5 $ (1,547,300) $ 1,119,547 $ 1,266,971 $ (1,694,724)
Stormwater Capital 4,119,339 1,218,000 1,121,251 4,216,088
Transit Capital 7,110,632 1,047,362 35,245 8,122,749
Wastewater Facilities Capital 4,550,061 989,917 791,582 4,748,396
Wastewater Construction Capital 4,622,996 1,500,000 2,092,991 4,030,005
Wastewater Capital 4,924,726 2,490,000 3,029,420 4,385,306
Water Capital 4,597,467 2,400,000 544,233 6,453,234
Irrigation Capital 4,719,692 4,955,016 5,159,833 4,514,875
Total Enterprise Capital Funds $ 33,097,613 $ 15,719,842 $ 14,041,526 $ 34,775,929
INTERNAL SERVICE FUNDS
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Equipment Rental $ 2,679,419 $ 4,429,191 $ 4,451,731 $ 2,656,879
Environmental 581,383 56,875 277,276 360,982
Public Works Administration 382,605 1,365,105 1,217,911 529,799
Utility Services 5,398 2,343,838 2,338,023 11,213
Total Enterprise Operating Funds $ 3,648,805 $ 8,195,009 $ 8,284,941 $ 3,558,873
5 Airport Capital has a negative fund balance due to changes in depreciation of fixed assets per the State Auditor. Once these numbers are
finalized,a journal entry will be made to correct this issue.
Finance Quarterly Report-Page 13
EMPLOYEE BENEFIT RESERVES 15
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Unemployment Comp Reserve $ 306,314 $ 229,128 $ 125,195 $ 410,247
Employees Health Ben Reserve 4,352,352 12,798,597 13,784,933 3,366,016
Worker's Comp Reserve 968,162 1,739,504 2,204,581 503,085
Wellness/EAP 109,390 190 37,481 72,099
Total Employee Benefit Reserve $ 5,736,218 $ 14,767,419 $ 16,152,190 $ 4,351,447
RISK MANAGEMENT RESERVE
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Risk Management Reserve $ 3,466,508 $ 5,432,524 $ 4,003,455 $ 4,895,577
DEBT SERVICE &AGENCY FUNDS
2021 As of December 31
Beginning 2021 2021 Ending
Fund Balance Actual Rev. Actual Exp. Balance
GO Bond Redemption
2002 GO Convention Center 217,154 1,344,687 1,393,696 168,145
2005 GO Various Bonds 17,239 3,294,323 3,294,959 16,603
1996 GO LTD-Convention Center 44,684 - - 44,684
Total GO Bond Redemption $ 279,077 $ 4,639,010 $ 4,688,655 $ 229,432
Water/Sewer Revenue Bond Redemption
WW Rev Bond&2008 Debt Service $ 12,485 $ 386,850 $ 380,862 $ 18,473
Irrigation Bond Debt Service 27,914 272,550 264,838 35,626
WW Rev Bond Rsv&2012 Debt Svc 1,599,415 1,164,200 1,142,667 1,620,948
Total W/S Rev Bond Redemption $ 1,639,814 $ 1,823,600 $ 1,788,367 $ 1,675,047
Agency Funds
YakCorps (16,781) 1,269,434 383,585 869,068
Custodial Funds - 5,081,285 4,818,835 262,450
Cemetery Trust 717,668 15,816 12,000 721,484
Total Agency Funds $ 700,887 $ 6,366,535 $ 5,214,420 1,853,002
Total Debt Service&Agency Funds $ 2,619,778 $ 12,829,145 $ 11,691,442 $ 3,757,481
Finance Quarterly Report-Page 14