HomeMy WebLinkAbout05/03/2022 06.B. 2022 1st Quarter Financial Report 1
sirF`;/,:,_,,1„„„„„
4'+
A
'icil'io4
k(,)' y
yes
\Z:f.',12). .--.'''..-/
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 6.B.
For Meeting of: May 3, 2022
ITEM TITLE: 2022 1st Quarter Financial Report
SUBMITTED BY: Jennifer Ferrer-Santa Ines
Kimberly Domine, Financial Services Manager
Kathy Miles, Financial Services Technician-Payroll
SUMMARY EXPLANATION:
The First Quarter Financial Report for 2022 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 4/22/2022 Corer Memo
2
___-„,,.,„„-,,,,,,„,,,
---0 v-:-...Y.,1 ‘‘.*
f ,4 t�.,1...:4‘
FINANCE DEPARTMENT
%c., .. .. ,
cow
.):.. ..: I
,,,,,.. ... ... *4.,
,„Ei,4,,.,0:,.........-,,,,,,v
'4-4:121--------
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: May 3,2022
Subject: 2022 1st Quarter Financial Update
This financial update is a preliminary,unaudited,report for the 1st quarter ended March 31,2022, one
quarters,or 25%of the year,intended to inform and assist governance decisions for future planning. In
total,city revenues are at 19.4%of budget and expenditures are at 16.3%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 25%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 2023,
which may affect final numbers.
COVID's Economic Effects on City Revenues
The American Rescue Plan Act (ARPA) funds positively impacted 2022,increasing budgeted revenues
and expenses and affecting"normal"budgetary percentages in the accompanying reports uniquely. The
economic effects of COVID and the CARES Act affected 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 is currently exceeding budget by 16.2%in the first quarter. Sales are up by over 20%in
the following categories:
• Rental and leasing services is up 22.8% over last year,with the largest increase in
commercial and industrial equipment,up 57.6%over last year.
• The accommodations &food categories are up 35.1% and 6.2%respectively.
• Repair&maintenance is up 22.9%in the first quarter,with appliance repair and
maintenance up by 180.5%.
3
Construction is also going strong with an increase of 7.9%over last year, mostly in the
construction of buildings category.
• Lodging Tax had a significant downturn in 2020 and 2021 due to the economic effects of the
COVID pandemic. Lodging Tax in the 1st quarter of 2022 is now showing significant signs of
improvement at 155.7%of budget for the 1st quarter.
• Building Permits and Fire Inspection Fees decreased during 2020 and into 2021, and while
building permits are beginning to reach budget expectations,fire inspection fees are still well
below budget, and continue to be monitored monthly.
• Gambling revenues continue to struggle to reach budget expectations in the 1st quarter of 2022.
Some of these establishments went out of business or did not renew their licenses.
General Fund's Performance to Budget
General Fund Revenues in total are at 21.7%;the largest components are:
• Licenses and Permits,showing improvement from 1st quarter 2021,are at 25.3%.
• Criminal Justice Tax is at 25.2%.
• Sales Tax is at 24.1%.
• Intergovernmental Revenues,consisting of revenue received from other Government units,is
at 24.3%.
• Other Taxes and Revenue are down,mainly due to the timing of incoming revenue payments.
General Fund Expenditures in total are at 20.9%. The largest component variances are:
• Interfund Distributions (transfers from the General Fund to other funds)are at(366.1)%. 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 at the time of this report.
• Indigent Defense is currently at 25.5%.
• Firemen's Relief and Pension is at 30.0%.
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 March at$129.6 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 -
$125,000,000 -
$100,000,000 -
111111111a11111111111111111111111
$50000000000000$25$�s000000
��„,„ �1�as% �1�1\\97, �� �1�„ �1�011°1 �,�0119���1119 �1�11r10 �1�01r10 c10 <1,0�1�O1�1� �1��1r1,1 �1�O1r1L �1�O1r11<12�1r11 ,^P11r1L
Sales Tax
This is the largest single funding source for the city. The 1st quarter cumulative revenue of$6.6 million
exceeds budget by$1.1 million or 16.2%and is greater than prior year by$598,497. 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 January. Rising inflation, unchanged spending and consumption by end
users have all influenced the increase of revenues from sales tax receipts. The graph below shows
General Fund Sales Tax revenues(General Sales Tax(001) and Criminal Justice Sales Tax (003) -see page
10 .
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 1st quarter cumulative Property Tax revenue is tracking right on budget. The 2022 budget increased
by$313,175 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 i i 1
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Water
The 1st quarter cumulative revenue of$2.1 million for Water through March is up$129,397. A rate
increases of 5%went into effect in January of 2022. January 2022 was overstated,as there was a billing
error in January that was corrected in February.
WATER REVENUE
$15,000,000 —
$10,000,000 —
$5,000,000 —
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 4
6
Wastewater
The 1st quarter cumulative revenue of$5.1 million is up$224,865 over budget and $148,689 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
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Stormwater
The 1st quarter cumulative operating assessments of$0.6 million are up$34,009 over budget and $80,529
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
$4,000,000
$3,000,000
$2,000,000
$1,000,000 -
$0
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 5
7
Refuse
The 1st quarter cumulative Refuse revenue of$1.7 million is up$21,186 over budget and $73,340 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 2022 budget.
REFUSE REVENUE
$10,000,000 -
$7,500,000 -
$5,000,000 - -
$2,500,000 -
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Lodging Tax
The 1st quarter cumulative revenue of$264,464 is up$94,633 over budget and up$107,513 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,and into the 1st quarter of 2022,showing steady improvement for the first
time in almost two years. The City is hopeful that this positive trend steadily continues moving forward.
LODGING TAX REVENUE
$2,000,000 -
$1,500,000 -
$1,000,000 -
$500,000
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 1st quarter cumulative revenue for REET of$673,306 is up$134,958 over budget and up$80,472 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 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
A Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Building Permits
After a slow start in 2022, the 1st quarter cumulative revenues of$170,978 are up$33,350 over budget and
$11,546 above prior year.
BUILDING PERMIT REVENUE
$1,000,000 -
$750,000 -
$500,000 -
$250,000 -
$0 1 1 1 I I 1 1 1 I 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
2022 As of March 31
Beginning 2022 2022 Ending
Balance Actual Rev. Actual Exp. Balance
General Fund $ 15,740,965 $ 15,045,456 $ 14,637,042 $ 16,149,379
Parks and Recreation 1,094,190 531,058 1,090,566 534,682
Street&Traffic Operations 1,900,887 744,464 1,162,001 1,483,350
General Government Subtotal 18,736,042 16,320,978 16,889,609 18,167,411
Other Governmental Operating Funds 7,106,398 12,031,625 3,439,000 15,699,023
Government Capital Funds 15,617,324 1,645,129 609,113 16,653,340
Enterprise Operating Funds 42,468,453 13,160,318 14,551,364 41,077,407
Enterprise Capital Funds 35,032,377 3,864,800 2,794,239 36,102,938
Internal Service Funds 4,129,968 1,825,779 2,353,926 3,601,821
Employee Benefit Reserve 5,078,459 3,789,391 4,296,049 4,571,801
Risk Management Reserves 3,752,405 1,548,705 2,991,439 2,309,671
Debt Service&Agency Funds 5,202,650 2,183,704 307,341 7,079,013
Total $ 137,124,076 $ 56,370,429 $ 48,232,080 $ 145,262,425
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.
Finance Quarterly Report-Page 8
10
CITY WIDE REVENUES & EXPENDITURES BY FUND GROUPING
REVENUE COMPARISON
(Budget vs.Actual)
2021 2022
Annual Annual
Amended Actual % Amended Actual %
Budget as of 3131 Rec'd Budget as of 3/31 Rec'd
General $ 69,979,616 $ 15,332,254 21.9% $ 69,469,378 $ 15,045,456 21.7%
Parks and Recreation 5,745,833 687,940 12.0% 5,565,770 531,058 9.5 %
Street&Traffic Operations 6,353,125 756,444 11.9% 6,478,808 744,464 11.5 %
General Government Subtotal 82,078,574 16,776,638 20.4% 81,513,956 16,320,978 20.0 %
Other Government Operating Funds 34,206,215 2,263,449 6.6% 29,267,731 12,031,625 41.1 %
Government Capital Funds 23,266,690 1,352,972 5.8% 34,512,287 1,645,129 4.8 %
Enterprise Operating Funds 68,198,108 12,761,524 18.7% 67,345,914 13,160,318 19.5 %
Enterprise Capital Funds 31,865,671 2,623,003 8.2% 37,796,070 3,864,800 10.2 %
Internal Service Funds 7,715,777 1,845,425 23.9% 10,002,954 1,825,779 18.3 %
Employee Benefit Reserves 16,293,943 3,716,938 22.8% 17,700,231 3,789,391 21.4 %
Risk Management Reserve 5,126,916 1,339,209 26.1 % 5,826,575 1,548,705 26.6 %
Debt Service&Agency Funds 7,495,303 1,866,617 24.9% 7,100,227 2,183,704 30.8 %
Total $ 276,247,197 $ 44,545,775 16.1 % $ 291,065,945 $ 56,370,429 19.4 %
EXPENDITURE COMPARISON
(Budget vs.Actual)
2021 2022
Annual Annual
Amended Actual % Amended Actual %
Budget as of 3/31 Exp'd Budget as of 3/31 Exp'd
General $ 70,950,328 $ 15,222,234 21.5 % $ 69,951,160 $ 14,637,042 20.9 %
Parks and Recreation 5,861,436 877,748 15.0% 6,240,392 1,090,566 17.5 %
Street&Traffic Operations 6,352,464 1,402,131 22.1 % 6,518,584 1,162,001 17.8 %
General Government Subtotal 83,164,228 17,502,113 21.0% 82,710,136 16,889,609 20.4 %
Other Government Operating Funds 29,723,343 3,297,177 11.1 % 18,831,776 3,439,000 18.3 %
Government Capital Funds 35,397,699 6,661,682 18.8% 29,785,352 609,113 2.0 %
Enterprise Operating Funds 67,535,670 12,105,120 17.9% 74,692,023 14,551,364 19.5 %
Enterprise Capital Funds 37,588,968 1,719,689 4.6% 52,126,085 2,794,239 5.4 %
Internal Service Funds 9,910,780 2,029,144 20.5 % 8,652,271 2,353,926 27.2 %
Employee Benefit Reserves 16,933,061 4,105,359 24.2% 16,935,080 4,296,049 25.4 %
Risk Management Reserve 5,688,793 2,448,797 43.0% 5,554,763 2,991,439 53.9 %
Debt Service&Agency Funds 7,554,302 252,414 3.3 % 7,100,485 307,341 4.3 %
Total $ 293,496,844 $ 50,121,495 17.1 % $ 296,387,971 $ 48,232,080 16.3 %
Finance Quarterly Report-Page 9
11
GENERAL G D VERNMENT REVENUE DETAIL
GENERAL GOVERNMENT REVENUES
2022 2022
Revenues as of March 31 Amended Percent
General Fund 2020 2021 2022 Budget Rec'd
Property Tax $ 868,036 $ 910,407 $ 944,627 $ 9,335,615 10.1 %
General Sales Tax 4,540,129 4,967,269 5,379,781 22,306,000 24.1 %
Criminal Justice Sales Tax 886,372 1,017,169 1,203,154 4,781,000 25.2 %
Utility&Franchise Taxes 4,859,046 5,082,235 5,135,376 20,325,209 25.3 %
Other Taxes 256,920 16,698 17,037 1,082,000 1.6 %
Licenses and Permits 693,790 414,010 430,624 1,704,700 25.3 %
Intergovernmental Revenues 1 954,784 692,708 939,418 3,865,141 24.3 %
Charges for Services 1,842,734 1,750,641 682,562 3,449,776 19.8 %
Fines and Forfeitures 351,851 203,033 264,681 1,418,000 18.7%
Other Revenue 19,600 278,084 48,196 1,201,937 4.0 %
Total General Fund 15,273,262 15,332,254 15,045,456 69,469,378 21.7%
Parks&Recreation
Property Tax 213,089 250,624 238,121 2,673,716 8.9 %
Intergovernmental Revenues 1 28,819 5,958 7,992 64,830 12.3 %
Charges for Services 141,029 81,399 166,359 945,115 17.6 %
Other Revenue 381,691 349,959 118,586 1,882,109 6.3 %
Total Parks&Recreation 764,628 687,940 531,058 5,565,770 9.5 %
Streets
Property Tax 302,826 399,914 391,846 4,399,808 8.9 %
Intergovernmental Revenues 1 359,160 316,583 338,967 1,574,000 21.5 %
Charges for Services 850 2,970 1,697 505,000 0.3 %
Other Revenue 10,942 36,977 11,954 - n/a
Total Streets 673,778 756,444 744,464 6,478,808 11.5 %
Total General Government $ 16,711,668 $ 16,776,638 $ 16,320,978 $ 81,513,956 20.0 %
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 D VERNMENT EXPENDITURE DETAIL
GENERAL FUND EXPENDITURES
2022
Expenditures as of March 31 Amended Percent
2020 2021 2022 Budget Exp'd
Police $ 6,537,754 $ 6,036,731 $ 6,859,133 $ 31,565,791 21.7%
Fire 3,452,770 3,505,152 3,708,893 16,226,271 22.9%
Information Technology 1,021,395 1,218,406 975,698 4,195,854 23.3 %
Finance 420,750 570,542 605,572 2,753,052 22.0%
Legal 469,347 549,380 482,930 2,192,864 22.0%
Code Administration 420,739 425,292 400,292 2,023,085 19.8%
Municipal Court 365,299 380,804 404,769 1,824,344 22.2%
Indigent Defense 268,579 274,138 280,285 1,100,000 25.5 %
Firemen's Relief/Pension 367,288 334,054 309,888 1,034,252 30.0%
Engineering 158,553 202,902 197,223 987,677 20.0%
Human Resources 183,433 173,740 170,835 855,521 20.0%
Planning 187,154 182,429 165,985 796,804 20.8%
City Management 84,045 149,375 162,712 773,420 21.0%
Police Pension 241,519 226,629 198,674 700,130 28.4%
City Clerk/Records (111,312) 113,880 119,308 685,847 17.4%
Economic Development 53,006 60,810 21,155 593,261 3.6%
City Hall Facility 134,144 92,552 102,918 483,711 21.3 %
Purchasing 113,426 103,444 102,781 449,893 22.8%
City Council 105,105 104,070 103,711 284,804 36.4%
Interfund Distributions 1 420,411 391,415 (791,925) 216,330 (366.1)%
Parking 38,290 36,125 20,092 101,986 19.7%
Intergovernmental 25,361 41,597 36,114 106,261 34.0%
Clean City Fund 2 170 48,768 n/a
Total General Fund 14,957,226 15,222,235 14,637,043 69,951,158 20.9%
1 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 at the end of the 2021 fiscal year. The timing of City Service charges and transfers does affect the
quarterly amounts,but should self correct by the end of the year.
2 The Clean City Fund,originally set up as part of the General Fund,was authorized as a special revenue fund by ordinance on 9/7/21.
Finance Quarterly Report-Page 11
13
OTHER FUNDS DETAIL
OTHER GOVERNMENT OPERATING FUNDS
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Economic Development 602,236 $ - $ - $ 602,236
Neighborhood Development 426,156 52,835 198,425 280,566
Community Relations 863,466 167,105 162,160 868,411
Clean City Program 18,713 202,976 94,427 127,262
Cemetery 170,979 105,920 90,974 185,925
Emergency Services 1 143,297 162,387 362,079 (56,395)
Public Safety Communication 1,338,397 908,780 912,828 1,334,349
Police Grants 930,147 35,587 49,875 915,859
PBIA(Park/Bus Improvement Area) 79,791 46,743 450 126,084
Trolley 40,942 6,234 168 47,008
Front Street Bus Improvement Area 7,138 400 1,565 5,973
Convention Center(Tourist Promo) 602,944 348,246 452,027 499,163
Capitol Theatre 82,816 98,699 99,165 82,350
PFD-Convention Center 1,241,058 202,730 302,837 1,140,951
Tourism Promotion Area 91,385 176,027 176,027 91,385
PFD-Capitol Theatre 421,233 153,607 170,155 404,685
American Rescue Plan Act(ARPA)2 45,700 9,363,349 365,838 9,043,211
Total Other Gov't Operating Funds $ 7,106,398 $ 12,031,625 $ 3,439,000 $ 15,699,023
GOVERNMENTAL CAPITAL FUNDS
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Arterial Street 2,202,192 $ 139,014 $ 82,173 $ 2,259,033
Central Bus District Capital 54,612 2,081 64 56,629
Capitol Theatre Construction 271,535 15,000 - 286,535
Yakima Redevelopment Area 3 12,264 - 96,044 (83,780)
Parks&Recreation Capital 311,201 28,656 41,764 298,093
Fire Capital 451,250 25,750 5,532 471,468
Law and Justice Capital 1,360,742 47,616 13,998 1,394,360
Public Works Trust Construction 4,350,986 378,904 202,038 4,527,852
REET 2 Capital 1,527,062 336,653 192,110 1,671,605
Street Capital 3,059,164 571,344 58,786 3,571,722
Street Overlay&Reconstruction - 37,778 22,883 14,895
Improvement 4 1,655,337 62,333 (147,000) 1,864,670
Reserve for Capital Improvement 360,979 - 40,721 320,258
Total Gov't Capital Funds $ 15,617,324 $ 1,645,129 $ 609,113 $ 16,653,340
1 The ending balance for Emergency Services is negative in this quarter due to the timing of property tax revenue,the bulk of which comes in
April.
2 The American Rescue Plan Act(ARPA)Special Revenue Fund(180)was created 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 pandemic.
3 YRDA capital fund shows a negative ending fund balance due to the the timing of revenues. This fund should not be negative at year-end..
4 Actual expenditures are negative pending an accrual. Until required documentation is received,final payment to a vendor cannot be made.
Finance Quarterly Report-Page 12
ENTERPRISE OPERATING FUNDS 1
4
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Operating $ 1,116,842 $ 383,897 $ 347,976 $ 1,152,763
Stormwater Operating 1,609,698 614,676 1,063,412 1,160,962
Transit Operating 9,971,595 2,019,915 1,950,851 10,040,659
Refuse 3,937,018 1,897,945 1,632,669 4,202,294
Wastewater Operating 16,028,480 5,628,869 6,222,754 15,434,595
Water Operating 8,124,514 2,206,008 2,646,727 7,683,795
Irrigation 1,680,306 409,008 686,975 1,402,339
Total Enterprise Operating Funds $ 42,468,453 $ 13,160,318 $ 14,551,364 $ 41,077,407
ENTERPRISE CAPITAL FUNDS
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Capital 5 $ (1,485,094) $ 41,160 $ 53,115 $ (1,497,049)
Stormwater Capital 4,114,664 400,000 14,178 4,500,486
Transit Capital 8,123,684 15,629 1,694 8,137,619
Wastewater Facilities Capital 4,758,478 239,917 — 4,998,395
Wastewater Construction Capital 3,934,028 1,875,000 325,642 5,483,386
Wastewater Capital 4,018,766 750,000 60,120 4,708,646
Water Capital 6,453,233 250,000 22,602 6,680,631
Irrigation Capital 5,114,618 293,094 2,316,888 3,090,824
Total Enterprise Capital Funds $ 35,032,377 $ 3,864,800 $ 2,794,239 $ 36,102,938
INTERNAL SERVICE FUNDS
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Equipment Rental $ 2,853,712 $ 1,132,440 $ 1,284,981 $ 2,701,171
Environmental 556,998 29,066 244,319 341,745
Public Works Administration 713,761 351,336 300,430 764,667
Utility Services 6 5,497 312,937 524,196 (205,762)
Total Enterprise Operating Funds $ 4,129,968 $ 1,825,779 $ 2,353,926 $ 3,601,821
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.
5 The ending fund balance may be negative due to March allocations that are not yet available..
Finance Quarterly Report-Page 13
EMPLOYEE BENEFIT RESERVES 1
5
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Unemployment Comp Reserve $ 412,521 $ 55,052 $ 20,597 $ 446,976
Employees Health Ben Reserve 3,650,900 3,325,845 3,725,453 3,251,292
Worker's Comp Reserve 854,677 408,494 543,546 719,625
Wellness/EAP 160,361 - 6,453 153,908
Total Employee Benefit Reserve $ 5,078,459 $ 3,789,391 $ 4,296,049 $ 4,571,801
RISK MANAGEMENT RESERVE
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Risk Management Reserve $ 3,752,405 $ 1,548,705 $ 2,991,439 $ 2,309,671
DEBT SERVICE &AGENCY FUNDS
2022 As of March 31
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
GO Bond Redemption
2002 GO Convention Center 184,239 325,604 - 509,843
2005 GO Various Bonds 16,603 439,224 - 455,827
1996 GO LTD-Convention Center - - -Total GO Bond Redemption $ 200,842 $ 764,828 $ - $ 965,670
Water/Sewer Revenue Bond Redemption 7
WW Rev Bond&2008 Debt Service $ 344,852 $ 95,600 $ (5,200) $ 445,652
Irrigation Bond Debt Service 220,723 68,038 (7,263) 296,024
WW Rev Bond Rsv&2012 Debt Svc 2,675,944 290,700 (14,633) 2,981,277
Total W/S Rev Bond Redemption $ 3,241,519 $ 454,338 $ (27,096) $ 3,722,953
Agency Funds
YakCorps 868,688 639,773 298,963 1,209,498
Custodial Fund 170,116.66 319,996 32,474 457,639
Cemetery Trust 721,484 4,769 3,000 723,253
Total Agency Funds $ 1,760,289 $ 964,538 $ 334,437 2,390,390
Total Debt Service&Agency Funds $ 5,202,650 $ 2,183,704 $ 307,341 $ 7,079,013
7 First quarter expenditures are negative due to the timing of interest accrual payments. These numbers will correct themselves when actual
expenditures are paid in June.
Finance Quarterly Report-Page 14