FINANCIAL ACTION SUMMARY

Transcription

1 City of Woodinville, WA Report to the City Council rd Avenue NE, Woodinville, WA To: Honorable City Council Date: 02/06/2018 By: Blaine Fritts, Finance Director; Dana Mason, Senior Accountant Subject: 2017/2018 Biennial Treasury Report FINANCIAL ACTION SUMMARY Expenditure Required Amount ed/approved Additional Amount Required ISSUE: Shall the City Council receive the Treasury Report for December 2017? RECOMMENDATION: To receive the Treasury Report for the month of December BACKGROUND/DISCUSSION: Revenues and expenditures are reported through December 2017 (50% of the biennium). Forecasts reflect mid-biennium adjustments adopted by Ordinance 654 on 12/5/2017. Total Operating Revenues The City received $975,700 in operating revenues in December. Biennium to date operating revenues are $14.94 million, which is 8.1%, or $1.1 million, more than forecast. Primary Operating Revenues December 2017 Sales Tax revenues for operational use were $425,800, which is 10% more than December Major categories changed from the same month in the prior year as follows; Sales tax from Accommodation & Food Services increased by 7%, or $5,100, primarily due to sales of lodging. Retail trade increased by 11%, or $16,700, from sales of other building materials and motor sport vehicles. Sales tax from Wholesale Trade saw an increase of 21%, or $7,500, due to sales of construction and mining machinery and equipment. Manufacturing sale tax was down 8%, or $3,000, from a decrease in wine sales. Biennium to date, sales tax used for operations revenue is $5.1 million, $186,400, or 3.8%, over forecast. Utility Tax revenues designated for operating activities were $57,600 in December, bringing the biennium to date total to $700,500, $34,200 more than forecast. Property Tax revenues in December were $20,000. Biennium to date, the City has received $3.14 million in property tax, which is 1.8% less than forecast. Development Services revenues were $152,900 in December and are $2.26 million biennium to date, $765,500 more than the forecast. Park & Recreation revenues are $214,100 biennium to date, just above the forecasted $205,900. Capital Project Revenues Utility Tax revenues designated for capital projects totaled $21,500 in December, and are $250,700 biennium to date, 9.9% more than forecast. Sales Tax from Construction revenues were $104,600 in December, up 3% from the prior year. The City received $641,600 in Real Estate Excise Tax (REET I & II) revenue in December. Biennium to date, REET I & II revenues are $864,400 more than forecast. The City received $35,900 in Park Impact fees and $46,800 in Traffic Impact fees in December. Biennium to date, $1.09 million and $551,100 have been collected respectively. Expenditures Operating Expenditures were $1.36 million in December. Biennium to date, operating expenditures total $11.2 million and are 12.7% less than forecast. RECOMMENDED MOTION: I MOVE TO RECEIVE THE DECEMBER 2017 TREASURY REPORT. 1 of 17

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3 TREASURY REPORT December 2017 City of Woodinville, Washington rd Avenue NE Woodinville, Washington of 17

4 $375,001 $393,858 $888,687 $12,000,000 $917,180 $1,220,225 $1,274,575 $1,563,101 $10,500,000 $1,624,284 $1,957,394 $2,057,533 $2,331,847 $2,430,579 $2,749,718 $2,850,303 $3,209,724 $3,350,838 $3,647,700 $3,761,165 $4,052,491 $4,197,383 $4,513,757 $4,679,178 $4,918,877 $5,105,321 $5,311,188 $5,884,204 $6,228,271 $6,591,683 $7,026,197 $7,434,352 $7,856,404 $8,343,328 $8,760,376 $9,247,215 $9,742,663 $10,160,389 $9,000,000 $7,500,000 $6,000,000 $4,500,000 $3,000,000 $1,500,000 Sales Tax Revenue (Excluding Sales Tax from Construction) *Does not include revenue from sales tax from construction or streamlined sales tax mitigation which is designated for capital imrprovement projects (CIP) $3,079 $2,982 $23,041 $26,862 $99,179 $140,050 $889,633 $973,740 $1,652,133 $1,633,772 $1,662,472 $1,657,323 $1,669,284 $1,663,848 $1,674,099 $1,666,854 $1,710,847 $1,735,792 $2,340,329 $2,291,466 $3,190,446 $3,124,733 $3,202,682 $3,144,698 $3,206,308 $3,234,193 $3,307,766 $4,039,662 $4,892,884 $4,903,862 $4,909,612 $4,925,378 $4,972,286 $5,582,981 $6,381,877 $6,420,001 $6,750,000 $6,000,000 $5,250,000 $4,500,000 $3,750,000 $3,000,000 $2,250,000 $1,500,000 $750,000 Property Tax Revenue of 17

5 $60,093 $140,082 $299,236 $222,600 $341,921 $293,072 $434,474 $312,905 $524,606 $483,333 $666,392 $657,065 $933,498 $1,452,013 $1,047,203 $1,733,226 $1,241,762 $1,892,904 $1,320,073 $1,982,078 $1,427,162 $2,107,848 $1,495,285 $2,260,783 $1,556,093 $1,710,975 $1,862,764 $1,950,650 $2,027,119 $2,187,411 $2,260,419 $2,345,989 $2,441,665 $2,606,713 $3,161,560 $3,388,234 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $750,000 $500,000 $250,000 Development Services Revenue from Permits, Licenses & Fees* *Does not include revenue received for tree mitigation which is budgeted for use on capital projects $31,970 $38,277 $36,587 $40,550 $64,487 $44,347 $68,711 $53,391 $75,800 $65,571 $133,106 $137,270 $141,925 $142,089 $147,534 $143,216 $166,310 $157,540 $168,826 $160,582 $171,372 $163,810 $205,875 $214,068 $237,845 $242,462 $270,362 $274,586 $281,675 $338,981 $347,800 $353,409 $372,185 $374,701 $377,247 $411,750 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 Parks and Recreation Revenue * 5 of 17

6 $61,707 $76,042 $130,737 $144,274 $198,808 $209,202 $247,026 $265,360 $301,276 $324,551 $352,114 $377,354 $408,888 $446,723 $458,550 $484,516 $508,581 $534,636 $575,478 $591,992 $614,587 $642,911 $666,332 $700,521 $728,039 $797,069 $865,139 $913,357 $967,608 $1,018,446 $1,075,220 $1,124,882 $1,174,913 $1,241,810 $1,280,919 $1,332,664 $1,400,000 $1,200,000 $800,000 $600,000 $400,000 $200,000 Utility Tax Designated for Operations* *75% of utility tax revenue is designated for operating activities. This graph does not include the 25% designated for use on capital improvement projects. Prior to 2015, all utility tax revenue was designated for use on capital improvement projects (CIP). In 2015, Council designated 60% of utility tax revenue for use on operating activities. In turn, revenues from sales tax from construction, which are more sensitive to market conditions and are a less dependable source of revenue, and revenues from streamlined sales tax mitigation (SST), which may not be available in the future, were designated for use on CIP. In 2016, the proportion of Utility Tax designated to operations was increased to 75%. This graph compares the amount of tax set aside from the General Funds (sales tax from construction and SST) for CIP to the amount of Utility Tax transferred to the General Fund for operations since $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $500,000 Utility Tax for Operations vs. SST & Sales Tax from Construction Utility Tax for Operations, $1,925,315 SST & Sales Tax from Construction, $4,718,625 6 of 17

7 $ $777 $12,873 $10,593 $34,497 $45,573 $295,496 $317,755 $583,568 $622,773 $586,625 $630,672 $642,148 $631,806 $643,126 $635,653 $652,632 $662,506 $880,838 $897,690 $1,237,784 $1,202,983 $1,240,510 $1,214,622 $1,241,646 $1,259,634 $1,287,765 $1,564,507 $1,853,042 $1,868,105 $1,870,285 $1,875,521 $1,894,642 $2,143,107 $2,403,313 $2,433,150 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $750,000 $500,000 $250,000 Surface Water Management Fund - Revenues $81,052 $47,551 $162,105 $141,386 $297,082 $264,911 $378,134 $321,905 $459,187 $365,687 $594,164 $503,760 $675,216 $550,012 $756,269 $591,894 $891,246 $745,650 $972,298 $808,345 $1,053,350 $860,637 $1,188,328 $993,517 $1,269,380 $1,350,432 $1,485,409 $1,566,462 $1,647,514 $1,782,491 $1,863,544 $1,944,596 $2,079,573 $2,160,626 $2,241,678 $2,376,655 $2,600,000 $2,400,000 $2,200,000 $2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $800,000 $600,000 $400,000 $200,000 Surface Water Management Fund - Expenditures of 17

8 $709,114 $855,791 $1,741,753 $1,677,750 $27,000,000 $2,477,563 $2,529,558 $4,181,798 $4,247,267 $24,000,000 $5,939,269 $6,019,321 $6,752,534 $6,956,798 $21,000,000 $7,732,751 $8,444,410 $8,565,136 $9,434,273 $18,000,000 $9,493,073 $10,448,948 $11,076,523 $12,047,552 $15,000,000 $13,069,702 $13,963,911 $12,000,000 $13,823,248 $14,939,613 $14,556,791 $9,000,000 $15,581,472 $16,447,747 $6,000,000 $18,137,823 $20,022,765 $20,904,087 $21,649,398 $22,485,350 $23,318,483 $25,077,456 $27,401,557 $28,381,707 $3,000,000 Operating Revenue Revenue from the General*, Street, Park & Recreation, Development Services**, Admissions Tax**, Hotel Motel, Surface Water Management & Internal Service Funds *Includes 75% of utility tax revenues designated for operations. Does not include revenues from sales tax from construction or streamlined sales tax mitigation. **Does not include revenue restricted for use on capital projects $721,128 $624,523 $1,310,012 $1,267,811 $2,032,771 $1,932,837 $2,750,062 $2,517,598 $3,711,425 $3,303,211 $5,852,945 $5,196,679 $6,871,243 $5,995,522 $7,835,266 $6,798,200 $9,092,693 $7,751,077 $10,110,699 $8,720,640 $11,366,681 $9,858,562 $12,857,662 $11,219,522 $13,716,422 $14,337,783 $15,006,237 $16,055,993 $16,644,657 $18,850,205 $19,926,802 $20,880,788 $21,930,179 $22,849,455 $24,174,167 $26,062,097 $24,000,000 $21,000,000 $18,000,000 $15,000,000 $12,000,000 $9,000,000 $6,000,000 $3,000,000 Operating Expenditures Expendituresfrom the General*, Street, Park& Recreation, Development Services, Admissions Tax**, Hotel Motel, Surface Water Management, Debt Service & Internal Service Funds *General Fund expenditures do not include amount expended on property acquisitions. **Admissions Tax amounts do not include $256,463 budgeted for sports field replacement. 8 of 17

9 Operating Revenue Operating Expenditures $855,791 $624,523 $1,677,750 $1,267,811 $2,529,558 $1,932,837 $4,247,267 $2,517,598 $6,019,321 $3,303,211 $6,956,798 $5,196,679 $8,444,410 $5,995,522 $9,434,273 $6,798,200 $10,448,948 $7,751,077 $12,047,552 $8,720,640 $13,963,911 $9,858,562 $14,939,613 $11,219,522 $25,000,000 $22,500,000 $20,000,000 $17,500,000 $15,000,000 $12,500,000 $10,000,000 $7,500,000 $5,000,000 $2,500,000 Operating Expenditures to Revenue From the General*, Street, Park& Recreation, Development Services, Admissions Tax** Hotel Motel, Surface Water Management, Debt Service & Internal Service Funds Operating Revenue Operating Expenditures *General Fund expenditures do not include amounts expended on property acquisitions. General Fund revenues exclude streamlined sales tax mitigation and sales tax for construction, and include 75% of utility tax designated for operations. **Admissions Tax amounts do not include $256,463 budgeted for sports field replacement. Operating Expenditures vs. by Department $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $- Legislative Legal Executive Administrative Law Enforcement Development Services Public Works * and actual include operating expenditures from internal service funds. 9 of 17

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11 $71,182 $108,916 $3,500,000 $142,364 $213,812 $3,250,000 $213,546 $267,018 $284,728 $331,701 $3,000,000 $355,910 $400,343 $2,750,000 $427,091 $488,528 $2,500,000 $498,273 $610,934 $2,250,000 $569,455 $747,845 $640,637 $819,780 $2,000,000 $711,819 $946,744 $1,750,000 $783,001 $1,077,936 $1,500,000 $854,183 $1,719,562 $925,365 $996,547 $1,067,729 $1,138,910 $1,210,092 $1,281,274 $1,352,456 $1,423,638 $1,494,820 $1,566,002 $1,637,184 $1,707,000 $1,250,000 $750,000 $500,000 $250,000 Real Estate Excise Tax I & II $20,940 $26,209 $44,364 $49,743 $67,463 $72,368 $83,825 $92,180 $102,234 $113,132 $119,485 $132,411 $138,751 $156,992 $155,603 $171,242 $172,580 $189,599 $195,281 $210,438 $208,552 $229,156 $226,111 $250,706 $247,050 $270,474 $293,573 $309,935 $328,344 $345,596 $364,861 $381,713 $398,690 $421,391 $434,662 $452,221 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Utility Tax Designated for Capital Projects* *25% of utility tax revenue is designated for capital improvement projects. This graph does not include 75% desginated for operation activites. 11 of 17

12 $34 $3,239 $3,274 $3,289 $6,487 $233,532 $6,529 $256,557 $44,705 $552,583 $870,954 $569,029 $951,254 $861,767 $1,006,171 $865,056 $1,010,203 $884,791 $1,049,179 $911,105 $1,085,128 $1,170,950 $1,203,842 $1,282,783 $1,312,385 $1,341,988 $1,371,591 $1,401,193 $1,430,796 $1,457,110 $1,483,423 $1,509,737 $1,536,050 $1,700,000 $1,600,000 $1,500,000 $1,400,000 $1,300,000 $1,200,000 $1,100,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Park Impact Fees $66,677 $295,922 $66,677 $301,779 $66,677 $302,005 $66,677 $306,450 $207,457 $306,734 $209,827 $310,922 $477,482 $350,207 $479,536 $395,336 $625,372 $448,741 $641,172 $453,449 $641,883 $504,285 $643,147 $551,103 $792,617 $794,197 $834,014 $983,800 $986,486 $989,172 $991,858 $994,544 $995,808 $997,072 $998,336 $999,600 $1,050,000 $900,000 $750,000 $600,000 $450,000 $300,000 $150,000 Traffic Impact Fees of 17

13 $44,833 $97,081 $141,196 $199,339 $349,045 $400,969 $412,989 $505,322 $497,868 $612,315 $710,144 $812,195 $785,132 $906,408 $880,961 $1,003,297 $1,106,419 $1,223,412 $1,199,033 $1,303,504 $1,283,911 $1,416,748 $1,504,787 $1,652,496 $1,584,726 $1,686,434 $1,892,251 $1,959,367 $2,051,867 $2,270,727 $2,370,526 $2,504,066 $2,743,386 $2,836,492 $2,956,532 $3,200,000 $3,500,000 $3,250,000 $3,000,000 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $750,000 $500,000 $250,000 Sales Tax from Construction & Streamlined Sales Tax Mitigation Capital Project Revenue Sources - ed Receipts to Source Biennium to Date % of Real Estate Excise Tax I & II $1,707,000 $1,719, % Sales Tax from Construction and Streamlined Sales Tax Mitigation $3,200,000 $1,652, % Utility Tax $452,221 $250, % Tree Mitigation $447,800 $246, % Admissions Tax $256,463 $128, % Parks Levy $60,000 $34, % Flood Levy $120, % Park Impact Fees $1,536,050 $1,085, % Traffic Impact Fees $999,600 $551, % Grants $7,870,470 $188, % Miscellaneous CIP Revenue/Interfund Charges for Services $860,750 $320, % Total Capital Projects Revenues $17,510,354 $6,177, % 13 of 17

14 Capital Project Expenditures - ed Uses to Biennium to Date Project % of Street & Sidewalk Projects 2015/2016 Carryover: Trestle Replacement/Widening on SR 202 Corridor - Design/Study $179,430 $5, % NE 171st Street Urban Parkway Improvements/133rd Roundabout $8,478,232 $541, % SR 522/NE 195th St Intersection Interim Improvements-Design $74,780 $ % Arterial Street Overlay Program $12,000 $11, % Residential Neighborhood Street Overlay Program $71,000 $42, % Wayfinding Signs $24, % Woodinville-Duvall Road Widening ( CIP) $30,000 $29, % Sammamish Bridge Replacement ( CIP) $7,603,085 $162, % 2017/2018 Projects Center Curb Replacement - Trip Roundabouts $60, % NE North Woodinville Way -Wood/Sno to NE Wood/Duvall Rd $1,110, % 195th & 164th Overlay and Walkways - Residential Overlay $1,500, % 124th Ave NE Sidewalk - 156th to 160th $1,010, % NE Woodinville Drive Embankment/Slope Repair $56,900 $56, Emergency Pavement Repair $125,000 $91,376 Total Street & Sidewalk Projects $20,334,427 $941, % Parks Projects Eastside Rail Cooridor $500,000 $71, % Wilmot Park - Play Structure Replacement $309,000 $185, % Woodinville Heights - Place Structure Replacement $131,000 $123, % DeYoung Park Restoration $750,000 $95, % NE 145th Street Pedestrian Path - Design $300, % West Slope Bike/Pedestrian Park and Trail $100,000 $34, % Total Parks Projects $2,090,000 $510, % Surface Water Projects 2016 Carryover - NE 143rd St Embankment & Culvert Repair $4,787 $4,787 Albertson Pond Sendiment Vault $270, % Total Surface Water Projects $274,787 $4, % Facility Projects Public Works Shop Roof Replacement (2015/2016 CIP) $10,000 $4, % Civic Center Design/Study $225,000 $163, % City Hall HVAC System Replacement $120, % City Hall Fire Control Sprinkler System Replacement $110, % City Hall Carpet Replacement $125, % City Hall Interior Paint $35, % Inclement Weather Materials Shelter $350, % Total Facility Projects $975,000 $167, % Property Acquisition Little Bear Creek Park $80, % Miscellaneous Property Acquisition $4,000,000 $ % Total Property Acquisition $4,080,000 $ % Capital Outlay $1,148,996 $251, % Total Capital Project/Outlay Expenditures $28,903,210 $1,876, % 14 of 17

15 to Appropriated Expenditures - 50% of Biennium Biennial December 2017 Expenditures Biennium to Date Expenditures Remaining % of Remaining Fund 001 General Fund General Fund Operating Expenditures Council $ 230,520 $ 6,701 $ 94,103 $ 136,417 59% Executive $ 2,580,557 $ 75,302 $ 995,486 $ 1,585,070 61% Legal $ 829,300 $ 24,295 $ 223,962 $ 605,338 73% Administration $ 2,424,057 $ 157,432 $ 941,280 $ 1,482,777 61% Law Enforcement $ 7,832,996 $ 596,501 $ 3,616,415 $ 4,216,581 54% Public Works $ 1,871,380 $ 56,523 $ 862,961 $ 1,008,419 54% Total General Fund Operating Expenditures $ 15,768,810 $ 916,755 $ 6,734,207 $ 9,034,602 57% Property Purchases/Capital Outlay $ 4,324,903 $ - $ 12,166 $ 4,312, % CIP Transfers $ 3,982,000 $ 4,400 $ 204,880 $ 3,777,120 95% Operating Transfers $ 3,349,430 $ 120,000 $ 1,424,456 $ 1,924,975 57% Total General Fund $ 27,425,143 $ 1,041,155 $ 8,375,709 $ 19,049,434 69% 101 Street Fund $ 2,228,120 $ 88,432 $ 904,217 $ 1,323,903 59% 104 Development Services $ 3,505,896 $ 116,580 $ 1,461,705 $ 2,044,191 58% 110 Admission Tax $ 200,000 $ 25,000 $ 100,000 $ 100,000 50% 111 Parks & Recreation Special Revenue $ 1,205,375 $ 74,498 $ 598,490 $ 606,886 50% 112 System Replacement $ 390,000 $ - $ - $ 390, % 113 Strategic Reserve $ - $ - $ - $ - 0% 114 Park Impact Fee $ 965,000 $ 47,900 $ 249,175 $ 715,825 74% 115 Hotel/Motel Tax Operating Expenditures $ 172,737 $ 19,938 $ 72,425 $ 100,312 58% CIP Expenditures/Transfers $ 24,000 $ - $ - $ 24, % Total Hotel/Motel Tax $ 196,737 $ 19,938 $ 72,425 $ 124,312 63% 116 Traffic Impact Fees $ 671,000 $ - $ - $ 671, % 118 Utility Tax Fund Operating Transfers $ 1,332,664 $ 57,610 $ 700,521 $ 632,143 47% CIP Transfers $ 2,272,000 $ - $ 42,000 $ 2,230,000 98% Total Utility Tax $ 3,604,664 $ 57,610 $ 742,521 $ 2,862,143 79% 201 Debt Service $ 784,429 $ - $ 391,762 $ 392,667 50% 301 Capital Project $ 2,897,332 $ 11,500 $ 479,590 $ 2,417,742 83% 302 Special Capital Project $ 3,017,515 $ 13,700 $ 398,300 $ 2,619,215 87% 303 Capital Street Reserve $ 12,900,942 $ 215,674 $ 971,683 $ 11,929,259 92% 354 Parks and Recreation Capital Projects $ 2,127,000 $ 115,042 $ 547,377 $ 1,579,623 74% 358 Facilities Capital Project $ 975,000 $ 4,396 $ 167,854 $ 807,146 83% 361 Sammamish Bridge Replacement $ 7,603,085 $ 180 $ 162,061 $ 7,441,024 98% 410 Surface Water Management Operating Expenditures $ 2,376,655 $ 132,880 $ 993,537 $ 1,383,118 58% CIP Transfers/Capital Outlay $ 274,000 $ - $ 3,965 $ 270,035 99% Total Surface Water Management $ 2,650,655 $ 132,880 $ 997,501 $ 1,653,154 62% 412 Surface Water Capital Projects CIP Expenditures $ 274,787 $ - $ 4,787 $ 270,000 98% CIP Transfers $ 784,000 $ - $ - $ 784, % Total Surface Water Capital Projects $ 1,058,787 $ - $ 4,787 $ 1,054, % 501 Equipment Rental $ 271,500 $ 11,877 $ 206,733 $ 64,767 24% 503 Equipment Replacement $ 588,657 $ - $ 90,520 $ 498,137 85% 505 Unemployment Reserve $ 60,000 $ - $ 807 $ 59,193 99% Total All Funds $ 75,326,837 $ 1,976,363 $ 16,923,216 $ 58,403,621 78% 15 of 17

16 Cash and Investment Activity December November October Beginning Cash & Investments $ 45,550,920 $ 44,953,133 $ 43,776,237 Receipts Deposits $ 451,376 $ 354,968 $ 287,455 King County - ACH $ 666,631 $ 1,250,107 $ 867,228 State of Washington Wire $ 759,316 $ 663,770 $ 652,449 Investment Interest Revenue $ 48,145 $ 41,828 $ 41,078 Total Receipts $ 1,925,467 $ 2,310,673 $ 1,848,211 Total Available $ 47,476,387 $ 47,263,806 $ 45,624,447 Disbursements Claims $ 1,284,306 $ 1,375,553 $ 319,116 Payroll $ 336,373 $ 337,334 $ 352,199 Total Disbursements $ 1,620,679 $ 1,712,886 $ 671,314 Ending Cash & Investments $ 45,855,708 $ 45,550,920 $ 44,953,133 Cash and Investments at Month End December November October Cash Bank Accounts (1) $ 537,974 $ 540,647 $ 948,458 Investment Accounts (2) $ 45,317,734 $ 45,010,273 $ 44,004,675 Total Cash and Investment Holdings $ 45,855,708 $ 45,550,920 $ 44,953,133 (1) Cash Balances reflect General Ledger book balances and not actual bank cash balances. (2) The City keeps funds in two interest bearing accounts; the Local Government State Investment Pool (LGIP) and a Washington Federal Public Funds account. As of month end December 2017, LGIP provided a net earnings rate of 1.278%, and the Public Funds account provided a net earnings rate of 1.141%. 3.00% Interest Rate Comparison 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% LGIP Net Earnings Rate 10 Year T-Bill 3 Month T-Bill Public Funds Account Treasury info: 16 of 17

17 Month/Year Total Revenue Jan-16 $ 37,079 Feb-16 $ 42,023 Mar-16 $ 49,702 Apr-16 $ 55,539 May-16 $ 62,793 Jun-16 $ 66,914 Jul-16 $ 71,741 Aug-16 $ 76,765 Sep-16 $ 83,912 Oct-16 $ 89,606 Nov-16 $ 94,673 Dec-16 $ 102,378 $ 109,343 $ 115,141 $ 122,915 $ 129,870 $ 137,020 $ 144,359 $ 150,075 $ 158,746 $ 165,103 $ 171,568 $ 178,549 $ 185,286 1,200 1,000 $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- $8,057 Jan-16 $4,943 Feb-16 $7,680 Mar-16 $5,837 Apr-16 Business License Revenue by Month $7,254 May-16 $4,121 Jun-16 Business Licenses from in City Limits vs. Business Licenses from Outside of City Limits $4,826 Jul-16 $5,025 Aug-16 $7,147 Sep-16 $5,694 Oct-16 $5,067 Nov-16 $7,706 Dec-16 $6,965 $5,798 $7,774 $6,955 $7,150 $7,339 1,026 $5,717 $8,671 $6,357 1,090 $6,464 $6,981 $6, New Licenses Renewals Total Licenses Businesses Registered w/in the City Limits Business Registered from Outside of City Limits Total New Licenses vs. New Licenses in City Limits of 17 New Licenses New Licenses -City Limits