City Council Business Agenda ItemCity of Kenmore, WA

Subject/Topic: For Council Meeting Agenda of: November 26, 2018October 2018 Financial Report

‘

Department: Finance and Administration

Prepared by: JoanneGregory

Initial 69:DateApproved by Department Head * I6Approved by City Attorney:Approved by Finance Director: —(C—\%Approved by City Manager:

Proposed Council Action/ Motion:Receive and File October 2018 Financial EXhibits/Attachments:Report for the City of Kenmore, Washington October 2018 Financial Report for the City of

Kenmore, Washington.

INFORMATION/BACKGROUND:

The October 2018 monthly financial report is presented for Council review. This providestheopportunity for the City Council and the community to receive information on the City of Kenmoresbiennium to date revenues and expendituresin comparison to the City‘s 2017—2018adoptedbiennialbudget. The budget was adoptedon December12, 2016 and amendedjuly 24, 2017and November 27,2017.This review also providesan opportunity to identifyany additional potentialvariances orfluctuations from the budget which may require a future budget amendment.

FISCAL CONSIDERATION:

October is the 22nd month of the 2017—2018biennium. As of October, revenues for the bienniumexceeded expendituresin the General Fund by $1,710,877primarilydue to the receipt of the second halfproperty taxes that becamedue on October 31. Also, revenues were 95.3% of the biennialbudget andexpenditures were 88%.

COUNCIL GOAL/BUDGETOBJECTIVEBEING ADDRESSED:

Kenmore Budget Policy9a: A revenue/expenditure report will be produced monthly so that it can bedirectly compared to the actual results of the fiscalyear to date. Kenmore BudgetPolicy9b: Allbudgetamendments, both revenues and expenditures,will be noted in the monthly report.Priority BasedBudgetingResult: Governance: Supports decisioirmaking with timelyand accurate

short—termand long»range analysisthat enhances vision and planning.

i:\admin & ?nance\monlhly reports\2D18\oct ab summary.docx

City of Kenmore, WashingtonMonthly Financial ReportOctober 2018

$25,000,000 ~*— ~ -''—**T" W’ 7

“W' W "W

' "*

$20,000,000 ~ ———j— —————— %A——————

$15,000,000 ~7*T—?——~————'— — ~ ———— *—

$10,000,000 ~—— ————— —

$5,000,000

$0 ~

»“'19 $0to V ,9

I Monthly Revenues I Monthly Expenditures I YTDRevenues IYTD Expenditures

‘(Q30#3‘V9‘ \°¢?’\\§*3} 8%?‘055'$04Q09(‘Q30¢’3‘V42‘Vgb‘\\)° \\§ VOQ’92906'

Total revenues for the month were $2,277,105. Biennium to date revenues are$22,429,141, which is 95% of the budgeted revenues of $23,533,174. Primary sources ofrevenue for the month included property taxes in the amount of $1,753,193, developmentfees & permits in the amount of $111,224, retail sales and use taxes in the amount of$205,300, and utility taxes in the amount of $73,086.

A summary of sales tax revenues received in October is attached. These receipts arebased on August sales activity. The chart below gives a historical perspective of monthlysales tax receipts over the last several years. The black dotted Target 2018 line is amonthly average of actual receipts during 2015, 2016, and 2017. The blue line represents2018 actual receipts, which are $115,646 above 2017 and ahead of the 2018 target by$304,467.

city of KenmoreRetail Sales 8. Use Tax History

2015 - 2018270,000

2018

250,000 A

230,000

210,000 —

190,000

170,000

150,000

130,000

110,000

90,000

---Target2018 —-A:tual2018 —-—Actual2015 —I-Actual2017 -I—Actual2016

|:\Adrnin & Finnncc\Monlh|y Ri:pnrls\20l8\OcIober.docx

City of Kenmore, WashingtonMonthly Financial ReportOctober 2018

The following chart illustrates the historical trends of sales tax receipts from the majorsegments: construction, retail, wholesale, other (agriculture, services, manufacturing,transportation and utilities) from January 2009 through October 2018. Retail and Otherare on a favorable upward trend.

Monthly Slles nx Revenues bysaurne

January 2009 through October 2013

o(9 s 4* av ~<~ *9 s \° o o 0 4» G <» 0 ~ \ x -. ¢ 4- e N‘ e <—: v <1 -.~v -- s“ <v Q‘ \* e ’;\ c x” i9

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The following chart illustrates the development revenue activity over the last twelveyears.

Monthly Development Revenueswith 6 Month MovingAverageNovember 2006 Th rough 0ctober2018

250000

200.000

150,000

100,000

50,000 —

'\ « . - . A

« «ca“ us” a9 Q96§ o°§ $3 <P° 9*“ “Q S‘ ,8‘ 9“ ‘O 5’ 9”’ $3’ 63 S’ 65’,,e“°‘Q“ 6*’ $5’ 6‘ ,5‘ 63’$2’‘Pw 1, w 4. \n {L 9 W {L ’L , (gr \,\\ ‘<1 5; Q1. ,5» ‘o ‘a ‘V {gr Kn \(L .5» Q» be \\{t\ b 0: n> «\ "9 vs .3‘ 9 at x e .9 t.‘ «S 1, '\

October 2018 expenditures were $948,781. Biennium to date expenditures are$20,718,264, which is 88% of the amended biennial budget expenditures of $23,535,546.

l:\Adn1in & Finance\Montlily Reports\20l8\0ctober.docx

City of Kenmore, WashingtonGeneral Fund Summary ReportOctober 31, 2018

PRIOR PERIOD 2015-2016MONTH BIENNIUMTO DATE ‘‘/cof BIENNIUMBUDGET MONTH BIENNIUMTO DATE '/u of BIENNIUMBUDGET

October 2018 2017-2018 BUDGET 2017-2018 October 2016 2015-2016 BUDGET 2015-2016

REVEN S

Properly Taxes 1.753.193 9.038.220 96.1% 9,408,704 740.368 7,761,984 85.5% 9.075.766Sales and Use Taxes 263.534 5.475.097 101.8% 5,376,291 263.834 5,018,057 100 4% 5.000.532UtilityTaxes 73.086 2.210.962 81.4% 2,717,485 80.985 2,198,512 79 6% 2.763.390OtnerTaxes 5,516 161,316 74.0% 218.113 333 156,422 138 8% 112.720Development Feesa Femuls 111.224 1,961,955 111.2% 1.764,518 73.477 2.166.830 100.7% 2.151,432

Franchise Fees 0 1.527.389 91.5% 1,668,476 76.002 1,520,403 93.7% 1.622,160

Intergovernmental and Grants 39.951 874.183 103.9% 841,615 59.936 780.781 110.4% 707,370

Investment interest 7.577 193.187 371.5% 52.000 10.341 132.151 260.7% 50,700

Fines and Forfeilures 0 12,771 0.0% D -197 -6.684 n/a 0

Transfers and Other Revenues 23,024 974,061 65.6% 1,485,972 7,761 118,307 21 9% 541,200

Total Revenues 2.277,105 22.429,141 95 3% Z3.533,174 1,312,841 19.846763 90.1% 22,025,270

Total Revenues & Beginning FundBalance 25.410.176 26,664,861 22,025,270

PRIOR PERIOD 2015-2014V

MONTH BIENNIUMTO DATE % of BIENNIUMBUDGET MONTH BIENNIUM TO DATE '/- of BIENNIUMBUDGET

October 2017-2018 BUDGET 2017-2018 Oclaher 2016 2015-2015 BUDGET 2015-2016EXPENDITURESCost Center

City Council 7,034 307,727 93 4% 329,426 8.011 284.929 868% 328.435City Manager 114,660 2,965,301 89.1% 3.328.297 121,371 2,663,011 82.4% 3.233.222City Clerk 10.970 434.931 102.2% 425.368 10.952 310.368 111.8% 277,683

Finance 53,140 1,655,273 99.0% 1.672.775 79.371 1,440,931 96.7% 1,490,155

Legal 43.716 473.997 94.8% 500.000 53.519 577,379 82 5% 700.000lnterfund Transfers 0 1,075,725 81 0% 1.328.228 0 1.668.216 46.9% 3.552.671Public Safety 373,769 7,153,494 81 2% 8.806.304 460.517 7.213.686 88.4% 8,160,115

Engineering & Environmental Sewlces 53,149 1,290,778 91.2% 1.415.011 62,794 1,667,155 95 6% 1.743.950Community Development 71,448 1,254,859 73.1% 1,715,510 38,764 816,018 98.3% 830,030

Developmental Services 94,377 2,215,324 107.0% 2.071.288 159,572 1,742,620 99.3% 1,755,050

Parks 8: Facility Maintenance 126,516 1,890,856 97.3% 1.943.339 91,704 1.517.608 74.8% 2,029,409

Total Expenditures 948,781 20,718,264 88.0% 23.535546 1,086,577 19.899320 82.6% 24.100.720

0.0% —2,075.450

Total Expenditures and Ending FundBalance 25.410.176 26,664,861 22.025.270

‘Non-Depanmental expenditures have been moved Io other General Fund Cost Centers

mm." : r...\u»mm.um..».wx.a.«.».a...:r.a

City of Kenmore, WashingtonGeneral Fund Revenue GraphsOctober 31, 2018PROPERTY TAXES

2017-2018 2017-2018Biennium to Date Biennium

Budget Actual10,000,000

2017 4.555.509 4.555.3259 000 000

Jan 4.533.733 4.573.545 ' '

Feb 4.742.392 4.720.413 5'°°"'°""

Mar 4.915.553 4.535.529 7'°°°'°°°

Apr 5.755.775 5.595.453 5-°°°-°°°

May 7.142.021 7.152.523 5-00°-°°°

June 7.155.271 7.210.439 4000000

July 7.163.409 7.219.130 3.000.000 — — '— —— —

Aug 7.132.371 7.234.550 2.000.000 — —— —

Sept 7.277.730 7.235.027 1.000.000om 5.047.191 9.033.220 0 — - 4~ 4 - ‘W1 A

+

Nav 9.391.753 4,5 ,9 5 5* .;\ 9 \~\ QQ 5 :7 Q4 .5»Dec 9.405.704

> Q é Y ‘} ‘§ Y) Y 60 O Q 0

2017-15 9.405.704,

V_ _ _

Year To Date 2333333332221335§’0°..";'1°MW‘

Actual 0. Projected 112% '

’

SALES, USE, CRIM JUSTICE TAXES2017-2018 2017-2018

Biennium to Date Biennium

Budget Actual

2017 2.651.530 2.903.337 5,000,000Jan 2.947.153 3.143.344Feb 3.114.522 3.422.073 5.0001000

March 3.304.312 3.537.315Apr 3.439.513 3.349.131 "'°°°'°°°

May 3,599,745 4.125.405 3.000900June 3.919.794 4.375.790July 4.124.717 4.520.511 2.000000 7 ~ ,2

Aug 4.375.444 4.910.595Sept 4.054.590 5.211.563 1.000.000 —'

V" ''~—

on 4.009.345 5.475.0970Nov 5.156.649

Dec 5.370.291 0° «5’ ,§‘\ V‘? 5°“ ‘:9 99°‘ 0°‘ e°A oat’2017-15 5.376.291 ‘*

Y=a'T°D=‘9 ’

T+2?7:2 DaE3%"’AC[ua| VVP,-°’ec(Ed 1120/n -I-2017-2018 Biennium Ac|uaI

UTILITYTAXES2017-2015 2017-2015

Biennium to Date BienniumBudget Actual

2017 1.345.290 1.242.051 3.000.000 -

Jan 1.459.540 1.370.750Feb 1.573.959 1.490.515 2r5°°v°°°

March 1.555.339 1.510.535 1Apr 1.502.555 1.731.071 Z'°°°'°°° '

May 1.917.035 1.757.374 1,500,000June 2.031.355 1.555.304 .July 2,145,737 1,990,559 1.000.000 . ~ —

Aug 2.250.057 2.059.904Sept 2374.435 2137.575 5001000Oct 2.455.755 2,210,902

0 A

_‘ I

New 2.503.135Dec 2.717.435 9° $9 2‘? Oc 9°; 0°2017-15 2.717.435Year To Date D?g?dgj.Actual 0, pmjected 39%

V

-o-2017-2015 BienniumActua1

|.\Admm 5 Fm.-mcuxmunmnyRspur\s\2DlBi0cIoherGonera1 Fund Rev Gvanhs

City of Kenmore, WashingtonGeneral Fund Revenue GraphsOctober 31, 2018

DEVELOPMENT FEES & PERMITS2017-2010 2017-2010 ‘

Biennium to Date Biennium

Budget Actual

2017 882,259 907,838 2,500,030Jan 955,701 953,639

‘

Feb 1,029,302 1,077,107 12,000,000March 1,102,024 1,151,036

Apr 1,176,345 1,303,330 msoolouuMay 1,249,667 1,367,707

June 1,323,309 1,474,421 woomoJuly 1,396,910 1,547,606

Aug 1,470,432 1,746,103500 000 0

7 77"

_W

Sept 1,543,953 1,050,731 '

on 1,617,475 1,961,955

Nov 1,690,996 , °K \ 0 A (1

Dec 1,764,516 30° 0%”$5? 6‘? 05‘ 300°,6“ 03° 06? 0" 6° 0°‘2017-18 1,764,510

Yea’ 7° 93“ -o-2017-2010 Bienniumto Date BudgetAcmai V, pmlecqw 121°/. —I-2017-2018 Biennium Actual

CABLEIWATER/SEWER FRANCHISE FEES12017-2018 2017-2018 1

Biennium to Date Biennium

Budget Actual

2017 037,494 061,559 11,000,000Jan 906,743 1,109,316 1000000Feb 975,991 1,115,749

,1l4oo_oooMarch 1,045,240 1,115,749

Apr 1,114,400 1,107,700 "2°°'°°°

May 1,103,737 1,306,033 110001300

June 1,252,905 1,306,033‘

000,000 2 —— — — r— ,

July 1.322.234 1,377,664 600,000 1‘Aug 1,391,402 1,527,309

0 400,000Sept 1,460,731 1,527,309

Oct 1529.979 1,527,3092°°‘°°°

Nov 1.599.220 °0 \ 0 0

Dec 1,660,476 9° 03° '06‘ 6? 00*009°9* Y9“QOQ0° 6° 1

'2017-10 1,669,476 9

YearT0 Date 1

Acmalviprojected 100%—l—2017~2018B1enniumi0DateBudgei -I-2017-20lBBIeriniumACIua|

‘

INTERGOVERNMENTAL & GRANTS2017-2010 2017»2010 V”

T’" ' "

’’T” ‘

Biennium In Date Biennium ‘ ’

Budget Actual2017 420,006 440,132 1000000 ,

Jan 455,075 497,763 000.000Feb 490,943 490,463 000000 1March 526,010 579,070 700000 ,Apr 561,077 629,627

600,000 ‘

May 596,145 629,627

1111 631.212 719.0. 3333;; lJuly 666,279 766,915 30o'oDn0

0

Aug 701,347 770,202 20o'o00’

,

sepi 736,414 034,232 1‘

Ocl 771,401 074,103 ‘°°-°°°1

"

’ ,Nov 006,549 1

° 1Dec 041,615 >77643’ 6:3‘ 09‘ §‘ 009°,6“ Y9 929‘cf} 9°‘ 90°K'2017-16 041,615 6 _

Year To Date2 B

,Actual v Pmiected 113% l 128131531362322133$6325‘B""9°‘ I ‘

I.\Admin A Financeimonihly Repoi1s\201B\01:liuberGeneialFund Rev Graphs

City of Kenmore, WashingtonGeneral Fund Revenue GraphsOctober 31, 2018

OTHER REVENUES AND TRANSFERS2017-2018 2017-2018

Biennium to Daie Biennium

Budget Actual2017 742.966 701.674 2,000,000Jan 027.411 712.400 1,000,000Feb 911.836 040.519 1,000,000March 996.261 547.291 1,000,000Apr 1.080.656 373.291 1,200,000May 1.165.111 1.006.588

1,000,000June 1.249.536 1.024.068July 1.333.960 1.046.985 333%Aug 1.410.305 1.273.687 40000,,Sept 1.502.510 1.305.217 '

Oct 1.537.235 1.341.335 20°90”

Nov 1.671.660 0 '

0 0Dec 1.756.085 00° 23° 0:? 03" 50*009"“03* 9” 00° 0° 9°‘ 075‘2017-16 1.756.085 é

Vea'T° 93“? -n—2017-2013 Biennium io Dale auageiActual v. Projected 65°/., —I—2017-2018 Biennium Aauai

TOTAL GENERAL FUND REVENUE2017-2018 2017-2010

Biennium Io Dale Biennium

Budge! Aclual

25.000000 —

Jan 12.136345 12.461569Feb 12.536975 13.164947 20,000,000March 13.560053 13.831330Apr 14.989576 16.272617 15,000,000May 16.953.663 17.375336June 17.503574 17.969546July 18.158246 16.570006

m'°°°'°°°

Aug 10,002,547 19.5396035 000 000

Sept 19.560964 20.152036 ' '

Oct 20.951.495 22.429141Nov 22.909960 D ’;’ Q’ 0

’

0, 0”; \‘ 0}_;

Dec 23.533174 04$ (go 00:3‘08 0:0 0,9 06 ,9 00‘? 0 9° 00

VearTo Date

ACma1V,Pm,.eC0ed 107%-I-ZO17v201E Biennium to Date Budge! -I-201’/-2015 Etennium Actual

|\AdmIrI 6 F|nance\McnInIy Rspons\2DIE\0cII.7harGar1s7zIFund Rev Graphs

City of Kenmore, WashingtonGeneral Fund Expenditure GraphsOctober 31, 2018

CITY COUNCIL2017-2018 2017-2018

Biennium to Date BienniumBudget Actual

2017 164.713 167.354Jan 178.439 207.017Feb 192.165 221,839

March 205.891 232.673Apr 219.617 247.095May 233.343 255.093June 247.070 266.851July 260.796 274.040Aug 274.522 283.298Sept 288.248 300.693OBI 301.974 307.727Nov 315.700Dec 329.4262017-18 329.426Year To Date

Actuai V. Projected 102%

CITY MANAGER2017-2018 2017-2018

Biennlum Io Dale BienniumBudget Actual

2017 1.643.259 1.563.222Jan 1,783,706 1,654,331

Feb 1.924.124 1.770.648March 2.064.541 1.924.823Apr 2.204.958 2,064,887

May 2,345,376 2,232,051

June 2.485.793 2.361.311July 2.626.210 2.539.657Aug 2.766.628 2.729.406Sept 2,907,045 2,850,641

OCI 3.047.462 2.965.301Nov 3.187.880Dec 3.328.2972017-18 3.328.297Year To DateAclual v Projecled 97"/n

FINANCE 8t ADMINISTRATION2017-2018 2017-2018

Biennium to Date Biennium

Budget Actual2017 1.083.885 1.129.357Jan 1.168.407 1.424.099Feb 1.252.928 1.501.280March 1.337.450 1.627.809Apr 1.421.971 1.691.362May 1.506.493 1.744.026June 1.591.014 1.805.177July 1,675,536 1,861,814

Aug 1.760.057 1.951.496Sept 1.844.579 2.026.093OCI 1.929.100 2.090.203Nov 2.013.622Dec 2.098.1432017-18 2.098.143Year To Date

Aclual v. Pmjecled 10B“/n

350.000

300.000

250.000 '-

200.000

150.000

100.000

50.000

s.,¢§§§.,§».;.«>‘o

3.500.000

3.000.000

2.500.000

2000.000 —.

1500.000

1000.000

500.000

0 ,W.

,..,, ._ _,

30° <50 65‘ YR‘$9 $2’ 5*’ v 900

-I—2017-20718Biennium Actual-I-2017-2018 Blenniuvn (0 Dale Budget

2.500.000

2.000.000

1.500.000 — — -

1.000.000

500.000

-D-Z017-2018 Blennlum In Date Budget —I-2017-2018 Biennium Aciuai

I \Adrnln 5. Ftnanca\MunIniy RepL>ns\2D1B\0c1abalGanera| Fund Exp Graphs

City of Kenmore, WashingtonGeneral Fund Expenditure GraphsOctober 31, 2018

LEGAL2017-2018 2017-2018

Bienniumto Dale Biennium

Budgel Actual

2017 300.000 274.954Jan 316.667 275,802

Feb 333.333 289,095

March 350.000 307,549

Apr 366.667 324,964

May 383.333 354.313June 400.000 378.906July 416,667 394.224Aug 433,333 416,320

Sepl 450,000 430.280OCT 466,667 473.997Nov 483.333Dec 500,000

2017-18 500,000

Year To Date

Actual v. Projected 102%

TRANSFERS TO OTHER FUNDS2017-2018 2017-2018

Biennium to Date Biennium

Budget Aclual2017 733.151 650.220Jan 782.741 650.220Feb 832.331 650,220

March 881,920 650,220

Apr 931.510 650,220

May 981.100 650.220June 1,030,690 650.220July 1.080.279 650.220Aug 1,129.869 650.220

$8511 1,179,459 1.075.725Oct 1,229,049 1.075.725Nov 1.278.638Dec 1,328,228

2017-18 1,328,228

Year To Date

Aclual v Projected 88%

PUBLIC SAFETY2017-2018 2017-2018

Biennium 10 Dale Biennium

Budget Actual

2017 4,428,152 4.055.650Jan 4,792,998 4.062.008Feb 5.157.844 4.126.878March 5,522,690 4.151.656Apr 5.867.536 4.217.160May 5.252.382 4.269.134June 6.617.228 5.749.318July 6.982.074 6.115.238Aug 7.346.920 6.475.212Sept 7.711.766 6.779.725Dci 6.076.612 7.153.494Nov 3.441.458Dec 8,806.30-1

2017-18 8.806.304Year To Dale

Actual V. Projected 89%

I \Admin 5 F"|nancaiMoII|n|y Rapon:\Z(1VE\OciaherGeneral Fund Exp Graphs

600.000

500.000

400.000

300.000

200.000 — — 7 — -—

100.000 * * 7 7* i

0

317

-I-2017-2018 Biennium 10 Dale Budgei -I-2017-2018 Biennium Actual

1.400.000 ‘r

1.200.000

1,000.000

800.000

600.000 * W i7

400.000 —— —— —

200.000

«.Q.Q\«1..v°\$°§>~*€°"°°e°o‘3”’ e

—I—2017-2018 Biennium Acluai—I—20|7-2018 Biennium to Date Budge!

10,000,000

9,000,000

3.000.0007.000.000

6.000.0005.000.000

4.000.0003.000.0002000.0001000.000 ‘

—-— — —— ——— —r— - —

0 .3,; Q5’‘¢5~ .3‘ ‘$.;\ $4» 99 Y9 age 0:. es‘ 0.5-

No payments for Pohce Conlrazt until June. .

,_...., . ._.

-I-2017-2018 Biennium lo Daie Budgel -0-2017-2018 Biennium Actual i

City of Kenmore, WashingtonGeneral Fund Expenditure GraphsOctober 31, 2018ENGINEERING & ENVIRONMENTAL SERVICES

2017-2018 2017-2018

Biennium to Date Elennium

Budget Actual2017 694,010 629,990 1,600,000

Jan 754.093 657.935 1,400,000Feb 014.177 604,399

March 974.260 765.932 1-2°°-00°

Apr 934.344 925.992 1.000.000May 994.427 975.015 000000June 1.054.511 959.652

600 000July 1.114.594 1.037.993 '

Aug 1,174,977 1,159,449 400.000

Sepl 1,234,761 1,237,620 200.00001:! 1,294,044 1,290,779

0Nov 1.354.929Dec 1.415.011 9° «"’V’°,0‘? 755 9” ;~>“b93* 199 :93 °& é‘? 0”?2017.19 1,415,011 Q

::‘u’aIT:'::::J?ec‘ed100%7

0

-n-2017-2010 Biennium lo Dale Budget —n—2:7:2010Biennium Aclual

COMMUNITY DEVELOPMENT2017.2019 2017-2019

Biennium lo Date Biennlum

Euggel Actual2017 737.951 599.620 2.000.000Jan 819.414 650,702 1,000,000Feb 900.970 705,979 1500000March 992.341 790.990 0400.000Apr 1.063.904 937.190 1,200,000May 1.145.267 997,490 1000000June 1.226.791 957.170 800000July 1.300.194 1.010.494 600000Aug 1.399.657 1.112.102sepl 1.471.120 1.193.411 z?gzgDcl 1.552.594 1,254,959 '

0Nov 1.634.047 \ 0

Dec 1,715,510 9° :25’ 05‘ 1?‘ 3'5 0§° 33* 19$ cf“ 0° S? 0"?2017-19 1,715,510 *

Year To Dam1-2017-2018 Bierlnlum 10 Dale Budget —I—2017-2018 Biennium Actual

Actual v. Projected 81% _,

DEVELOPMENT SERVICES2017-2019 20172010

Biennium 10 Dale Biennium

Budget Actual2017 1,017,664 1.097.794 2500.000

Jan 1,105,466 1.165.099Feb 1.193.269 1.351.077 2,000,000 — —

March 1.291.070 1.450.554Apr 1.360.072 1.592.925 1.5uo_ooo —

May 1,456,674 1.672.944June 1.544.476 1.939.707 1'm]Q'Q0()

July 1,932,279 1.937.642Aug . 1,720,090 1.992.712_ 500000Sept 1,907,992 2.120.947001 1.095.694 2.215.324

0 __ _W

__

Nov 1.993.496Dec 2,071,299 9° ‘<5’ .9‘? V6 6'; 9°?‘ 9% 19%of 0°‘ g 0'92017-19 2.071.299

‘k

::‘au'alT3lfr?wed “W 7 7

752017-2010gsienniumrluDateE11009!0

1\Admir15 Flnunce\MonINy Reporu\2010\oc1anerGenera> Fund Exp Graphs

City of Kenmore, WashingtonGeneral Fund Expenditure GraphsOctober 31, 2018

PARKS 81FACILITY MAINTENANCE2017-2013 2017-2018

Bienniumto Date Biennium

Budget Actual2017 976,706 1,002,290 2_5u0_0DuJan 1,059,092 1,040,692

Feb 1,139,476 1,090,051£000,000 V

March 1,219,664 1,219,391

Apr 1,300,250 1,303,719

May 1,380,636 1,362,490"swoon

June 1,461,023 1,462,943

July 1,541,409 1,552,661 "°°°'°°°

Aug 1,621,795 1,671,776

Sepl 1,702,161 1,764,340 50°-00°

on 1,762,567 1,600,656

0 .Nov 1,662,953Q k ‘\ W 4‘ Q \ 5‘ A QDec 1,943,339 >64‘ ((02 6? Y9 $1 Y; 99 ‘,9 209 o 99 09

2017-16 1,943,339 $5”Yea1T0 Dale __ ., _. . _ . _-

mum V_ Pmjemd 106% _..2017-2616 Blennlum lo Dale Budget —I—2D17-2015 Blennlum Actural

TOTAL GENERAL FUND EXPENDITURES1

2017-2016 2017-2016

Biennlum lo Dale Biennium

Budget Actual

I25,000,000

Jan 12,761,023 11,767,903

Feb 13,740,525 12,391,367 129900.000.March 14,720,027 13,119,366 ‘Apr 15,699,529 13,755,393 mooovooo,May 16,679,031 14,302,661

June 17,656,534 16,450,263 110,000,000July 19,636,036 17,373,663

Aug 19,617,536 18,431,991

sepx 20,597,040 19,769,4635'D°°'°°°

ocl 21,576,542 20,718,2640 ‘

Nov 22 556 044' ' x \. \ A

Dec 23,535,546 3'5‘ 4'? ‘$5.3Y9 3°‘ ,5 »§ :69 :39 0° 9° 0"?Year To Date _ _ _

Acmal V Pmjeded 96%-¢—2017—2o16 Blennlurn 10 Dale Budget +2017-2016 Biennium Aciual

W#

I \Adrn1n A F1nznca\McnIhly Rapons\2D1B\DcInherGeuaral Fund Exp Gmnhs

City of Kenmore, WashingtonStreet Fund Summary ReportOctober 31, 2018

MONTH BIENNIUMTO DATE % of BUDGETOctober 2018 2017-2018 BUDGET 2017-2018

REVENUES

Fuel Tax 43,041 892,687 92.1% 969,604

Investment Interest 1,416 6,945 - 6,000

Miscellaneous 44 11,157 - 1,500ROW Permit Fees/Inspections 29,714 236,544 107.5% 220,000

Multimodal Transportation 0 47,297 102.4% 46,200

Transfer from General Fund 0 952,640 95.3% 1,000,000

Transfer from TBD 0 613,887 91.8% 669,000Total Revenues 74,215 2,761,158 94.8% 2,912,304

Total Revenues & BeginningFund Balance 3,552,147 3,773,906

BIENNIUMTO DATE % of BUDGET2017-2018 BUDGET 2017-2018

EXPENDITURES

Salary and Benefits 35,445 802,025 85.5% 938,209

Maintenance & Operations 101,648 1,779,758 92.2% 1,930,800Capital 0 132,250 330.6% 40,000

Total Expenditures 137,093 2,714,033 93.3% 2,909,009

Total Expenditures and EndingFund Balance 3,552,147 3,773,906

l:\Admin & Finance\Mon1h|yRep0r1s\2018\OcloDerSKreet Fund

City of Kenmore, WashingtonCash and Investment ReportOctober 31,2018

General $3,531,838 $2,277,105 , 60,

Street 901,023 74,215 137,093 838,144

Transportation Capital 276,940 50,648 369,446 (41,858)

Public Art 68,767 118 0 68,886Park Impact Fee 569,320 27,976 0 597,296Transportation Impact Fee 2,011,529 99,080 0 2,110,609

Swamp Creek Basin 1,439,635 2,479 0 1,442,114

Transportation Bene?t District 85,687 28,223 0 113,910

Sammamish Bridge Replacement —55,838 211,179 654,674 (499,333)Walkways & Waterways Debt Service 695,493 454,241 0 1,149,735Real Estate Excise Tax 3,507,188 104,207 0 3,611,395

Kenmore Village 214,315 810 12,856 202,269

Park Capital -465,102 0 24,276 (489,377)Walkways & Waterways Bond 7,951,368 15,234 0 7,966,602

Surface Water Management 1,385,038 562,130 173,843 1,773,326Surface Water Capital -160,043 0 0 (160,043)

Strategic Reserve 1,295,696 2,231 0 1,297,928

Strategic Opportunities 2,149,283 6,545 6,302 2,149,526

Equipment Replacement 524,546 902 1,010 524,438

Trust & Agency 670,704 53,705 43,381 681,027Totals $26,597,387 $3,971,029 $2,371,661 $28,196,755

General‘

—$539,540VH-

A

$5,400,981 4,861,442

Street -11,856 850,000 838,144Transportation Capital -41,976 0 (41,976)Public Art 53,885 15,000 68,885Park Impact Fee —332,702 930,000 597,298Transportation Impact Fee 2,080,611 30,000 2,110,611

Swamp Creek Basin 42,115 1,400,000 1,442,115Transportation Bene?t District 113,910 0 113,910Sammamish Bridge Replacement -499,333 0 (499,333)Walkways & Waterways Debt Service 1,149,734 0 1,149,734Real Estate Excise Tax ' 3,611,393 0 3,611,393

Kenmore Village -247,734 450,000 202,266Park Capital -489,378 0 (489,378)Walkways & Waterways Bond 7,966,602 0 7,966,602Surface Water Management 1,263,326 510,000 1,773,326

Surface Water Capital -160,044 0 (160,044)Strategic Reserve 447,929 850,000 1,297,929

Strategic Opportunities 2,149,527 0 2,149,527Equipment Replacement 74,437 450,000 524,437Trust & Agency 581,023 100,000 681,023

Totals $17,211,930 $10,985,981 $28,197,911

I:\Admin & Finance\Monlh|y Reports\20l8\OctoberCash|nv

City of Kenmore, WashingtonInvestment ScheduleOctober 31, 2018

'1

5/1H.’

E: I "-1717.111»;

Time Value Investments

31771EAQ4 FHLB 11/2/2018 11/23/2016 1.08% 1.08% 999.B6B.38 10,798.58

3130A7RL1 FHLB 4/19/2021 1/26/2017 1.90% 1.80% 992593.00 17,872.07

3133EJSU4 FFCB 12/26/2019 7/11/2018 2.53% 2.53% 1.001.561.00 25.339.-1976116FAG2 RFCSP 1/15/2021 5/31/2018 2.50% 2.50% 999,719.18 24,992.95

313560623 FNMA 4/29/2019 11/24/2015 1.35% 1.35% 998,325.00 13.47140Total TVI Purchases 4,992,360.54 92.48050

Opus Bank CD'S11495975 CD 8/10/2019 8/10/2018 2.37% 2.40% 1.000.000.00 24,000.00

Total Cascade Bank CD'S 1,000,000.00 24,000.00

rwmm I nu-mwonwy Rnaoru\2D1E\DclubI1lnvSch

City of Kenmore, WashingtonRetail Sales and Use Tax DistributionOctober 31, 2018.

Prior 12 Months Current 12 Months % lncreaselIndustry ending October 2017 ending October 2018 (Decrease % of TotalAgriculture & Other (Landscaping, Animal Hospitals) $1,602 $10,209 537.39% 043%Construction 550,104 492,361 * -10.50% 20.51%Manufacturing (Printing, Publishing, Other Manul.) 48,798 48,070 -1.49% 2.00%Transp/Comm/Utilities (Te|ecomm., AirTransport.) 22,961 26,764 16.57% 1.12%Wholesale (Lumber, Other Wholesale) 103,199 138,982 34.67% 5.79%Retail Trade (Eating, Merchandise, Food Stores) 803,996 838,281 4.26% 34.93%Services (Auction, Recreation, Auto Repair, Financial) 769 867 645 459 9.82% 35.23%

Totals §2.S?l.§.ZZ EZAMLJZE 5.581% 100%

Increase/(Decrease) mm 4.31%

Retail Sales and Use Taxes by IndustryCurrent 12 Months Ending October 2018

Agriculture 8.Other, Construction, 20.51%0.43%

Services, 35.23% _Manufacturing, 2.00%

Transportation 8.Utilities, 1.12%

Wholesale, 5.79%

Retail Trade, 34.93%

NOTE: Due to the City's Con?dentiality Agreement with the Department of Revenue, speci?cbusiness infonnation cannot be disclosed.

There is a sixty-day lag between sales taxes collected and when they are remitted to the City

Retail Sales and Use Taxes by IndustryPrior 12 Months Compared to Current 12 Months

$900,000

5800.000

$700,000

$600,000

5500.000

5499-990 '

k

_ , Prior 12 Month Period

s3ou,nuo‘ 7'_

g_ Current 12 Month Period

3200,0110

s1I)n.nn0

S0

|:\Admln a.Frnarwe\Mont.h|y Renor\s\Z0|8\0ototzerSB|esTaxlJist

City of Kenmore, WashingtonReal Estate Excise Tax ReportOctober 31, 2018

Real Estate Excise Taxes (REET)2015 - 2018 Monthly Receipts

Actual Actual Actual Actual Target ‘

r

2015 2016 2017 2018 2018

January 74,259 122,819 176,657 99.205 124.578V’* .‘

February 61,070 70,146 94,134 82,263 75,117

March 111,337 110,066 170.086 89.698 130,496

April 104,280 133,161 126,245 148,514 121,228

May 112,927 129.599 139.422 144,906 127,316>

_

June 156,338 167.575 211.430 181,182 178,448H

.

July 173,095 177,426 163,138 181,974 171,219

August 166,651 165,397 114,754 115,421 148,934

September 147,666 136.176 221.719 128.704 168,521

October 129,678 150.786 186.805 97.998 155,756

November 120,907 124,437 150,187 131.844December 96,566 131,651 146,159 124,792

$1,454,776 $1,619,239 $1 ,900,736 $1,269,865 $1,658,250

Real Estate Excise Taxes (REET)2015 - 2018 Property Sales > $500,000

(The sales actually occur in the prior month: there is a 30 day lag between sales and when the City receives the revenue)

20$ % Ni ;01_8 W 2i 2% 21$January 7,418,000 18,590,517 27,548,430 17,379,581 23,264 36,719 92,023 136,365

February 6,607,900 9,701,034 19,017,050 15,277,640 19,458 32,709 48,020 94,134

March 7,874,934 15,147,174 29,692,641 13.818,387 10.768 38,961 74,979 146,979

April 14,291,370 21,160,913 19,953,544 23,896,450 21.120 70.742 104,747 98,770

May 14,068,904 19,813,122 24,277,456 25,710,632 61,121 69,641 98,075 120,173

June 20,361,466 26,065,161 36,414,050 31,816,871 36,402 100.789 129.023 180.250July 25,571.387 24,020,546 28,779,145 32,800,185 74,604 126,578 118.902 142.457August 22,614,538 21,648,781 18,859,991 19.693,600 29.117 111,942 107,161 93,357

September 18,821,380 16,950,242 38,431,272 22,172,221 41.767 93,166 83,904 190,235

October 16,519,240 21,157,409 31,278,148 14,697,849 220,060 81,770 104,729 154,827

November 14,736,156 16,916,011 no reporl 44.164 72.944 83,734 #VALUE!

December 13,187,535 20,607,695 25,603,889 35.357 65.278 102,008 126,739

$182,072,810 $231,778,605 $299,855,616 $217,263,416 617.202 901,259 1,147,305 #VALUE!

$275 0002014-2017 REETComparison

$250,000

$225,000

$200,000

$175,000

$150,000

$125,000

$100,000

$75,000

$50,000

$25,000

I \Admln 5 Fmance\Monlhly Raporrs\2018\O:tcberREET

City of Kenmore, WashingtonMonthly Report for Kenmore Village FundOctober 31, 2018

RevenuesLease Income (USPS & Kenmore Village)Investment InterestTransfer From General FundMisc. RevenuesLeasehold Excise Returned

Total Revenues

ExpendituresSalaries/Wages/BenefitsDowntown Plan ServicesEvents & Misc.Utilities and Insurance — Kenmore VillageRepairs, Maintenance, Other ServicesSurface Water and Fire Benefit FeesComputer SoftwareImprovementsKenmore Village Public SquareTotal Expenditures

Net Income (Loss)

October Biennium-to-2018 Date Biennium Budget

0 20,120 89,000347 5,097 5,000

0 123,085 328,2280 170,282 0

462 1,550 2,400

810 320,134 424,628

0 761 60,0000 8,382 0

576 55,158 44,0003,111 60,441 64,2009,099 96,862 84,600

0 8,942 070 699 20,000

0 0 8,0000 357,321 0

12,856 588,568 292,228

-12,046 —268,434 132,400

NOTE: This schedule only reflects activity occurring on the City books and does not includethe lease revenue and expenditures accounted for by the property management firm.

I \Admin 5. Finance\Monih|y Reporls\Z01B\QcloberKenmore Village (2)

Kenmore Transportation Benefit DistrictMonthly ReportOctober 31, 2018

October Biennium-to- Percentggvenues gag gas; of Budget Biennium Bggggg

Vehicle Fees 28,043 659,385 96.97% 680,000Investment Interest 180 5 710 713.70% 800Total Revenues 28 223 665 095 97.69% §680 800

Ex i ures

Reimbursement to Street Fund 0 613 887 91.76% 669 000Total Expenditures 0 613,887 91.76% 669,000

Net Income (Loss) §28 223 $51 208 $11 800

Monthly TBD Revenues from May 2013 (Inception) to October 2018

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