REPORT TO THE CITY COUNCIL rd Avenue NE, Woodinville, WA I I

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1 CITY OF WOODINVILLE, WA REPORT TO THE CITY COUNCIL rd Avenue NE, Woodinville, WA To: Honorable City Council p,~ 6 Date: October 6, 2009 From: By: Subject: Richard A. Leahy, City Manager~ Jim Katica, Finance Direct~ Treasury Report for Augus~zb09 FINANCIAL ACTION SUMMARY Expenditure ReCluired I Amount BudCleted/Approved I Additional Amount ReCluired I I ISSUE: Shall the City Council receive and file the Treasury Report for August 2009? RECOMMENDATION: To receive and file the Treasury Report for the month of August BACKGROUND/DISCUSSION: For comparative purposes, August takes the City through 33% of the biennium. Revenue Sales tax revenue shown in the August Treasury Report is for sales activity through the month of June. The City has received about $700,000 less than forecast, without signs of improvement for the short term. Through the first eight months, sales taxes are about $1.2 less than the same period in Property taxes are on target. Utility tax revenue remains slightly less than forecast. REET is at 34% of forecast, improving with each month of activity. Development fees are at 8 of forecasted revenue, also improving slightly. Operating revenue (General Fund, Street (operations), Parks and Recreation and Development Services Funds) is 87% of forecast. Expenditures Operating expenditures of the combined four funds are about $1.4M under budget. Every effort continues to be made to keep operating expenditures less than operating revenues. RECOMMENDED MOTION: I MOVE TO RECEIVE AND FILE THE AUGUST 2009 TREASURY REPORT. Attachment 1: August 2009 Treasury Report 1

2 Treasury Report August rd Avenue NE Woodinville, Washington

3 Schedule No.1: Monthly Comparison Graphs Budget 2009 Actua! 2010 YTO Jan-09 $440,589 $367,821 Feb-09 $1,029,399 $849,174 Mar-09 $1,423,010 $1,240,897 Sales Tax Comparison Apr-09 $1,812,044 $1,538,767 May-09 $2,316,429 $1,912,640 Jun-09 $2,765,727 $2,347,866 SI4,000,000 Jul-09 $3,240,089 $2,689,115 r:::=:::j Budget Aug-09 $3,806,524 $3,100,307 SI2,OOO,OOO -0- Actual Sep-09 $4,292,067 SI0,000,000 Oct-09 $4,794, Actual YTD Nov-09 $5,334,294 Dec-09 $5,848,000 S8,000,000 Jan-IO $6,301,807 S6,000,000 Feb-IO $6,908,281 Mar-IO $7,313,701 S4,000,000 Apr-IO $7,714,405 May-IO $8,233,922 S2,000,000 Jun-IO $8,696,699 SO Jul-IO $9,185,292 I II Aug-IO $9,768,720 Sep-IO $ 10,268,829 Oct-IO $10,785,941 Nov-IO $ I 1,342,323 Dec- 10 $1 1,871,440 Budget Actual 2010 YTO Jan-09 $4,448 $5,075 Feb-09 $21,793 $28,368 Mar-09 $84,351 $84,859 Apr-09 $798,179 $789,695 May-09 $1,492,898 $1,502,500 S7,000,000 Jun-09 $1,511,618 $1,512,087 Jul-09 $1,515,090 $1,515,865 S6,000,000 Aug-09 $1,522,511 $1,526,949 Sep-09 $1,569,618 S5,000,000 Oct-09 $2,472,034 Nov-09 $2,874,569 S4,000,000 Dec-09 $2,887,000 S3,000,000 Jan-IO $2,891,541 Feb-IO $2,909,246 S2,000,000 Mar-IO $2,973,104 Apr-IO $3,701,768 SI,OOO,OOO May-IO $4,410,924 Jun-IO $4,430,034 SO Jul-IO $4,433,577 Aug-I 0 $4,441,153 Sep-IO $4,489,239 Oct-IO $5,410,410 Nov-IO $5,821,310 Dec-IO $5,834,000 I-- I-- / Property Tax Comparison r:::=:::j Budget Actual Actual YTD / / / #

4 Schedule No.1: Monthly Comparison Graphs - continued Budget Actual 2010 YTD lan-09 $111,716 $90,440 Feb-09 $223,066 $202,191 Mar-09 $339,408 $302,028 Utility Tax Comparison Apr-09 $442,988 $397,390 May-09 $545,950 $492,130 lun-09 $639,193 $572,240 $3,000,000 lul-09 $733,647 $647,039 c::::=j Budget I0 Aug-09 $827,214 $727,685 $2,500,000 Sep-09 $918,379-0-Actual Oct-09 $1,004,137 $2,000, Actual YTD Nov-09 $1,098,518 Dec-09 $1,194,900 $1,500,000 lan-l0 $1,312,202 Feb-lO $1,429,119 Mar-IO $1,551,278 $1,000,000 Apr-IO $[,660,037 May-l0 $1,768,147 $500,000 lun-l0 $1,866,052 lul-l0 $1,965,229 I Aug-IO $2,063,475 Sep-lO $2,159,198 Oct-lO $2,249,244 Nov-l0 $2,348,344 Dec-l0 $2,449,545 Budget Actual 2010 YTD lan-09 $23,333 $8,023 Feb-09 $46,667 $9,740 Real Estate Excise Tax Comparison (each 1/4%) Mar-09 $70,000 $18,608 Apr-09 $93,333 $24,910 May-09 $116,667 $28,992 lun-09 $140,000 $37,206 $1,200,000 lul-09 $163,333 $52,975 c::::=j Budget $1,000,000 Aug-09 $186,667 $64,916-0-Actual Sep-09 $210,000 Oct-09 $233,333 $800, Actual YTD Nov-09 $256,667 Dec-09 $280,000 $600,000 lan-lo $313,333 Feb-IO $346,667 $400,000 Mar-IO $380,000 Apr-lO $413,333 May-IO $446,667 $200,000 lun-l0 $480,000 lul-l0 $513,333 I Aug-l0 $546,667 Sep-l0 $580,000 Oct-l0 $613,333 Nov-l0 $646,667 Dec-IO $680,000 4

5 Schedule No.1: Monthly Comparison Graphs - continued Budget 2009 Actual 2010 YTD Jan-09 $50,427 $35,365 Feb-09 $100,854 $47,337 Developmental Services Fees Comparison Mar-09 $151,281 $117,067 Apr-09 $201,708 $147,715 May-09 $252,135 $189,951 Jun-09 $302,562 $221,267 $1,800,000 Jul-09 $352,989 $241,750 $1,600,000 Aug-09 $403,417 $321,638 Sep-09 $453,845 $1,400,000 Oct-09 $504,273 $1,200,000 Nov-09 $554,701 $1,000,000 Dec-09 $605,129 Jan-IO $668,098 Feb-IO $731,067 $600,000 Mar-IO $794,036 $400,000 Apr-IO $857,005 May-IO Jun-IO $919,974 $982,943 Jul-IO $1,045,912 Aug-lO $1,l08,881 Sep-IO $1,171,850 Oct-IO $1,234,819 Nov-IO $1,297,788 Dec-IO $1,360,757 $2,000, ;:=========::::; , c::=::j Budget Actual $800, ", _,...dol----.."" :,...a.--..,... $200,000 t~~~r II Budget 2009 Actual 2010 YTD Jan-09 $565,428 $506, General Fund, Streets, Parks & Rec, Developmental Svcs Feb-09 $1,344,022 $1,150,777 Revenue Comparison Mar-09 $1,928,526 $1,762,094 Apr-09 $3,089,943 $2,933,977 Budget and Actual May-09 $4,618,818 $4,166,602 $25,000,000 "1--;:::=========::::; , Jun-09 $5,365,891 $4,783,391 c::=::j Budget I0 Jul-09 $6,115,003 $5,303,092 $20,000,000 Aug-09 $6,971,017 $6,038,641 Sep-09 $7,715, Actual YTD Oct-09 $8,997,293 $15,000, ' ' Nov-09 $10,137,267 Dec-09 $10,841,929 Jan-IO $11,428,311 Feb-IO $12,235,759 Mar-IO $12,841,924 $5,000, ,,~~ Apr-IO $14,046,381 May-IO $15,631,915 Jun-IO $16,406,673 Jul-IO $17,183,546 Aug-IO $18,071,284 Sep-1O $18,843,594 Oct-IO $20,172,651 Nov-IO $21,354,871 Dec-IO $22,085,647 $10,000, , I II

6 Schedule No.1: Monthly Comparison Graphs - continued Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-IO Feb-IO Mar-IO Apr-IO May-IO Jun-IO Jul-IO Aug-IO Sep-IO Oct-IO Nov-IO Dec-IO Budget $908,751 $1,817,501 $2,726,252 $3,635,002 $4,543,753 $5,452,503 $6,361,254 $7,270,004 $8,178,755 $9,087,505 $9,996,256 $10,905,006 $11,813,757 $12,722,507 $13,631,258 $14,540,008 $15,448,759 $16,357,509 $17,266,260 $18,175,010 $19,083,761 $19,992,511 $20,901,262 $21,810,012 Actual YTD $500,614 $1,043,953 $1,619,620 $2,165,631 $2,860,055 $4,378,360 $5,093,049 $5,870, General Fund, Streets, Parks & Ree, Developmental Sves Expenditures Budgeted and Actual $25,000,000 -r , $20,000,000 $15,000,000 $10,000,000 $5,000,000 c=:::j Budget Actual YTD Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-IO Feb-IO Mar-IO Apr-IO May-IO Jun-IO Jul-IO Aug-10 Sep-IO Oct-IO Nov-IO Dec-IO Operating Revenue $506,105 $1,150,777 $1,762,094 $2,933,977 $4,166,602 $4,783,391 $5,303,092 $6,038,641 Operating Exp $500,614 $1,043,953 $1,619,620 $2,165,631 $2,860,055 $4,378,360 $5, $5,870,332 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000, General Fund, Streets, Parks & Ree, Developmental Sves Revenue vs Expenditures Actual Jan... Revenue -.-Expenditure Feb March April May June July August 6

7 Schedule No.2: Cash and Investment Activity August July June Beginning Cash & Investments $32,678,005 $34,482,988 $34,572,741 Receipts Deposits $1,004,099 $289,618 $466,875 King County - ACH $32,199 $36,279 $29,510 State of Washington - Wire $453,744 $410,051 $491,887 State Investment Interest Revenue $15,740 $17,516 $20,966 Total Receipts $1,505,782 $753,464 $1,009,238 Total Available $34,183,787 $35,236,452 $35,581,979 Disbursements Claims $1,244,655 $2,193,747 $719,494 Payroll $353,887 $364,700 $379,497 Total Disbursements $1,598,542 $2,558,447 $1,098,991 Ending Cash & Investments $32,585,245 $32,678,005 $34,482,988 Schedule No.3: Schedule of Cash & Investments at Month End August July June Cash Bank Accounts (I) $378,895 $121,139 $133,689 State Investment Pool (2) $32,206,350 $32,556,866 $34,349,299 Other Investments Total Cash and Investment Holdings $32,585,245 $32,678,005 $34,482,988 (I) Cash Balances reflect General Ledger Book Balances and not actual bank cash balances. (2) As of August 31,2009, the State Investment Pool provided net earnings rate of.5686%. Interest Rate Comparison , t-j1il!!::- =lt:::::!!!t.=j!ii~-::.=.!!.!::::::a"' =:::::::;;;;_ j z:=----=--'liik--==::r----""t"" ~: --- i 3.0 t-~ ~--- ::::~==~==ro:::::"'-= j 2.0 t--~i=~i:::::::::::;j~=4l "'.::::...,~:::_ t~ l...~~----~~=...~.",.:::::.=+=~~=4: LGIP Net Earnings Rate 2007 LGIP Net Earnings Rate YearT-Bill -.-3 Month T-Bill 7

8 Schedule No.4: City of Woodinville Monthly Report through August % of % of MAJOR NON-CIP REVENUE SOURCES Thru August 33% Budget Variance Property Tax $1,526,949 26% 1.2% Sales Tax & SST $3,100,308 26% 1.1% Other Taxes $202,082 34% 9.4% Cable TV & PEG Fees $118,432 39% 14. Grants/lntergov $217,466 47% 22.1% Other Chgs for Svcs $125, % Miscellaneous $29,984 53% 27.6% Gas Tax $148, % Dev. Services - Permitting Fee $168,192 24% -0.9% Dev. Services - Charges for Svcs $153,445 23% -1.9% Parks & Rec Revenue $164,713 36% 11.2% Storm Water Drainage Fees $486,383 27% 1.8% HotellMotel Tax $22,771 21% -3.9% 2009 % of %of MAJOR NON-CIP EXPENDITURES Thru August 33% Budget Variance General Fund $3,556,825 28% 3% Street Fund $564,827 35% 1 Developmental Services $889,167 29% 4% Parks & Recreation $661,325 23% -2% Surface Water $518,123 29% 4% Debt Service $160,689 15% -1 Eq Replacement $15, % Eq Rental $35,909 14% -11% System Replacement $2,555 nia nia Hotel Motel Fund $7, % Affordable Housing -25% Unemployment $2, % 8

9 Schedule No.4: City of Woodinville Monthly Revenue Report CIP RELATED REVENUE SOURCES Admission Tax Real Estate Excise Tax (1 & 11) Utility Tax Flood Levy Parks Levy Park Impact Fees Traffic Impact Fees Other Fees Capital Street Reserve Grant TRIP State Grant BNRP Grants Parks & Rec Grants TRIP Other Funding Parks Donation/Grants Budget $390,000 $1,360,000 $2,449,545 $48,000 $52,000 $600,000 $600,000 $615,000 $2,100,000 $750,000 $75,000 $1,300,000 $1,325,000 Thru August 33% $127,687 $129,832 $727,685 $15,574 $3,175 $335,957 $8,084 $21,466 $623,105 $891,879 $2,759 % of Budget 33% % 56% n/a 3% 3 119% 4% %of CIP RELATED EXPENDITURES Budget Thru August 33% Budget Old School House $100,000 $76 Generator $200,000 NE 175th Street Traffic Light Sync $750,000 Sidewalk $200,000 $194,994 97% SR202 Wall (Flood) $194,000 $59,644 31% NE 173rd Slide (Flood) $344,000 $90,881 26% 145th Pedestrian Improvements $205,000 Overlay $1,300,000 $21,751 2% Wood Duvall Widening $7,033,000 $61,094 1% SR202/148th $6,750,000 $1,759,028 26% BNRP $750,000 $864, % SR th $557,000 $70,686 13% Sportsfield $5,943,000 $163,834 3% Rails & Trails $150,000 Green Brier $62,000 Park Improvements $45,000 $20,524 46% Boat Launch $58,000 Shop $5,532,000 SWM Survey $300,000 $90, nd Storm Drainage $1,999 n/a BNRP Outfall $750,000 $131,692 18% 9

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