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Highlights of the Internal Service Funds <br />Fund Balance <br />The equipment rental /replacement fund ended 2016 with a $4.4M unreserved fund balance, which is <br />$166K, or 3.7% lower than 2015 and was lower than budget by $1.2M, or 22.1 %. Ending fund balance had <br />been trending upward the last few years. However, during the 2017 -2018 budget preparation cycle, it was <br />determined that a more in depth look at the fund balance policy for this fund should be reviewed. Reviewing <br />the fund balance policy for this fund is on the 2017 work plan. A few items, including a 10 -yard dump truck <br />and 5 police vehicles were not purchased in 2016 and are planned to carry over into 2017. <br />The active employee self- insurance fund ended 2016 with a $1.5M unreserved fund balance, which is <br />$500K lower than 2015 but higher than budget by $100K, or 7.2 %. Insurance costs were $5.9M for 2016, <br />$377K higher than 2015. The City will continue to monitor trends as insurance costs and recommend <br />changes as needed. <br />The LEOFF I insurance fund ended 2016 with a $882K unreserved fund balance, which is $107K higher <br />than last year and is higher than budget by $676K. LEOFF I insurance costs had been rising the last few <br />years with 2014 seeing the highest cost at just under $1M, however 2015 expenses returned to normal <br />levels of less than $500K and 2016 continued the trend of lower costs with total expenses at $524K. <br />Ending Fund Balance — Internal Service Funds <br />11 iiii <br />2014 ITV 2615 I111d 2616 <br />20 <br />