HomeMy WebLinkAboutFS 2016-04-05 COMPLETE AGENDA PACKETCity of Tukwila
Finance and Safety
Committee
O Verna Seal, Chair
O Dennis Robertson
O Kate Kruller
AGENDA
Distribution:
Recommended Action
V. Seal
P. McCarthy
D. Robertson
C. O'Flaherty
K. Kruller
R. Turpin
K. Hougardy
L. Humphrey
T. McLeod
B. Miles
Mayor Ekberg
V. Carlsen
D. Cline
Brandon Mlles, Economic Development Liaison
TUESDAY, APRIL S, 2016 — 5:30 PM
HAZELNUT CONFERENCE ROOM
(formerly known as CR #3) at east entrance of City Hall
Item
Recommended Action
Page
1. PRESENTATION(S)
2. BUSINESS AGENDA
a. A lease agreement with the Tukwila Historical Society
a. Forward to 4/18
Pg.1
for the old City Hall facility.
Consent Agenda.
Brandon Mlles, Economic Development Liaison
b. 2015 4th Quarter Investment Report
b. Information only.
Pg.15
Vicky Car /sen, Deputy Finance Director
c. 2015 4th Quarter sales tax and miscellaneous revenue
c. Information only.
Pg.25
report.
Peggy McCarthy, Finance Director
d. Proposed 2017 -2018 biennial budget schedule.
d. Information only.
Pg.39
Peggy McCarthy, Finance Director
3. ANNOUNCEMENTS
4. MISCELLANEOUS
Next Scheduled Meeting: Tuesday, Apr# 19, 2016
i& The City of Tukwila strives to accommodate individuals with disabilities.
Please contact the City Clerk's Office at 206 - 433 -1800 (TukwilaCityClerk@TukwilaWA.gov) for assistance.
City of Tukwila Allan Ekberg, Mayor
Mayor's Office - David Cline, City Administrator
TO: Mayor Ekberg
Finance and Safety Committee
FROM: Brandon J. Miles, Economic Development
DATE: March 22, 2016
SUBJECT: New Lease Agreement with Tukwila Historical Society for Tukwila Grade
School /Old City Hall Premise
ISSUE
Should the City enter into a new lease agreement with the Tukwila Historical Society (hereinafter
"Society") for continued use of the Tukwila Grade School /Old City Hall, located at 14475 59th Avenue
South?
BACKGROUND
In 2010 the City entered into a five year lease agreement with the Society to occupy the old Tukwila
Grade School /Old City Hall building. City Administration and the Society desire to enter into a new
lease agreement, allowing the Society to continue to operate from the property.
Finance and Safety considered the draft lease at its March 8, 2016 meeting. After further discussions,
City Administration is submitting a revised lease document to the Committee for its review and
consideration.
DISCUSSION
The Society's utilization of the building has been mutually beneficial to both the City and the Society.
The City has been able to hand over the day to day care of the building to a third party with a vested
interest in the upkeep of the building. While the Society's ability to have a permanent physical space
has allowed the Society to grow its membership and expand its offerings.
The following are the proposed deal terms of the new lease agreement:
Consideration: As with the previous lease, the City will not charge the Society a base rent;
instead, the Society will agree to perform certain services:
Work to continue to secure funding for upkeep and repairs to the historic
building. All repairs and building work must be approved by the City.
Keep the premises and immediate surrounding area neat, clean, and in a
sanitary condition.
Develop programing for children and youth to educate about the history of
Tukwila and the Duwamish /Green River Valley.
Term: The version of the lease reviewed by the Committee on March 8th provided for a
five year term, with a five year option. Administration is now proposing that the
term be ten years, with a provision allowing the Mayor to extend the agreement
an additional five years, for a total term of 15 years.
Tukwila City Hatt - 6200 Southcenter Boulevard - Tukwila, WA 98188 - 206 - 433 -1800 - Website: Tukwila WA.gov
Lease with Tukwila Historical Society
Rental of Space: In order to generate funds to support and sustain the Society, the Society has
requested the ability to rent the space to private groups for events. The lease
agreement permits renting the space with limitations on the duration of events,
time of day of events and insurance requirements. City may terminate the right to
rent the space in the event that the rentals create disturbances for adjacent
residents or impact the residential neighborhood.
The agreement prohibits the Society from renting the space out long term.
Insurance: The Society is required to maintain adequate insurance coverage and name the
City as an additional insured.
City's (Lessor)
Responsibilities: The City is responsible for all utilities, routine janitorial, cleaning, and minor
repairs. City's responsibilities for repairs shall not exceed $100.00 per month,
$1,200 per month.
The City is responsible for maintenance and repair of the building. City retains
absolute authority and discretion in determine, what if any maintenance or
repairs are performed on the building.
FINANCIAL IMPACT
None.
RECOMMENDATION
Administration recommends that the City enter into a new lease agreement with the Society. The
Committee is being asked to forward the new lease agreement to the April 18th consent agenda.
ATTACHMENTS
• Draft Lease Agreement
• Minutes from March 8, 2016 Finance and Safety Meeting
Phone: 206 - 433 -1800 + Email: Mayor @TukwilaWA.gov • Website: TukwilaWA.gov
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LEASE AGREEMENT
PREAMBLE
THIS LEASE AGREEMENT, dated this day of 2016, is entered into by and between
the City of Tukwila, a political subdivision of the State of Washington (hereinafter, "Lessor"), and the
Tukwila Historical Society, a local 501(c)(3) organization (hereinafter, "Lessee "), for the purpose of leasing
the building and improvements formerly referred to as the Tukwila Grade School /Tukwila City Hall,
located at 14475 59th Ave South, Tukwila, Washington, 98168 (hereinafter, "Heritage Center ").
II. RECITALS
WHEREAS, the Lessor is the owner of the Premises, which consists of a building on real property
located at 14475 59th Avenue South, Tukwila, Washington, 98168, depicted in the map attached hereto
as Exhibit A; and
WHEREAS, the Lessee has leased the Premises since September of 2010; and
WHEREAS, the Premises is a nationally registered historic place and one of the oldest structures in the
City of Tukwila; and
WHEREAS, since leasing the Premises in 2010 the Lessee has pursued and obtained funding to
complete tenant improvements on the historical structure; and
WHEREAS, the Lessee performs a vital community service of preserving the history of the City of
Tukwila and Duwamish /Green River Valley, and
WHEREAS, the Lessee is taking due care in occupying the space and keeping the Lessor informed of
any issues that may need owner attention; and
WHEREAS, the Lessee and Lessor desire to enter into a new lease agreement for the Premises; and
NOW THEREFORE, in consideration of the mutual promises set forth herein, the Lessor and Lessee
agree as follows:
III. AGREEMENT
A. Description of the Premises. Lessor hereby leases to Lessee, upon terms and conditions herein
set forth, the Premises consisting of the former Tukwila Grade School /Tukwila City Hall officially
named Tukwila Heritage and Cultural Center, situated in the City of Tukwila, King County,
Washington, and whose common address is 14475 59th Avenue South, Tukwila, Washington,
depicted in Exhibit A hereto.
B. Consideration. There is no base rent for the term of this lease, but in exchange for this lease the
Lessee shall maintain the City's history and perform the tasks stated herein at Section III.H, at
Lessee's sole cost and at no cost to the Lessor.
C. Term. The term of this Lease Agreement is ten years, commencing on April 1, 2016 and
terminating on March 31, 2026. Upon mutual agreement of the Mayor of the City of Tukwila and
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the President of the Tukwila Historical Society, this agreement may be extended for an additional
five year period to commence on April 1, 2026 and terminating on March 31, 2031, without
further City Council action.
D. Ownership. The real property, improvements, all permanent fixtures, and landscaping shall
become and remain the property of Lessor. Any personal property stored at the Premises (e.g.
furniture, pictures, clothing, etc.) shall remain the property of the party that supplied it.
E. Permitted Uses. The Premises shall be used by the Lessee for the primary purpose of enhancing
the historical and cultural place Tukwila holds in the region by collecting, preserving, and
displaying collections, artifacts and digital information pertaining to Tukwila's past, and to be an
educational resource for future generations. To that end, the Lessee may:
1. Improve and renovate the Premises, with the Lessor's oversight, so as to use the Heritage
Center as an historic and cultural resource for the citizens of Tukwila;
2. Rent the Premises, in accordance with Section III.F.
F. Rental of Space. In order to generate funds to support and to sustain the Tukwila Historical
Society, the Lessee is permitted to rent the premise out to an organization and /or individual
(hereinafter, "Renter ") for special events, subject to the following:
1. No single rental may have a duration greater than 72 hours.
2. The Lessee shall obtain and maintain all required permits necessary to conduct events on
the site. The Lessee is required to fully comply with all building, fire, and other applicable
life safety code regulations.
The Lessee shall ensure that Renters do not significantly impact the surrounding
residential neighborhood. Rental activities may only take place between the hours of 8:00
AM and 10:00 PM.
4. City of Tukwila sponsored events shall not be charged a fee for use of the Premises. Lessor
shall work with the Lessee on scheduling City sponsored events.
5. Termination of Right to Rent:
The Lessor may, at its sole discretion and absolute authority, terminate Lessee's
right to rent the premises in the event the Lessee's actions or the Renter's actions
pose a threat to health or safety, or to the physical structure of the building. The
Lessor shall provide the Lessee notice of termination, and the termination is
effective immediately. The Lessor has sole discretion and absolute authority to
determine whether the Lessee's actions or the Renter's actions pose a threat to
health or safety, or to the physical structure of the building. Lessor shall not be
responsible for loss of rental income or reimbursement of rental funds due to
Lessor's exercise of this provision.
ii. The Lessor may terminate Lessee's right to rent the premises for any violation of
the terms of this agreement as follows:
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1. A written warning will be mailed to the Lessee for the first, second and
third violations, specifying the non- compliance.
If the Lessee receives four written warnings within a three hundred sixty
five day period (365) day period, calculated from the date of the issuance
of the first written warning, the Lessor may issue a Notice of Termination
to the Lessee, indicating the intention of the Lessor to terminate the
Lessee's right to rent the premises not less than thirty (30) days after the
receipt of the Notice of Termination. The Lessor has sole discretion and
absolute authority to determine whether a violation has occurred. Lessor
shall not be responsible for loss of rental income or reimbursement of
rental funds due to Lessor's exercise of this provision.
iii. The Lessor may terminate Lessee's right to rent the premises for any reason
whatsoever, provided the Lessor issues a Notice of Termination to the Lessee,
indicating the intention of the Lessor to terminate the Lessee's right to rent the
premises not less than one (1) year after the receipt of the Notice. Lessor has
sole discretion and absolute authority to determine whether to terminate
Lessee's right to rent the premises. Lessor shall not responsible for loss of rental
income or reimbursement of rental funds due to Lessor's exercise of this
provision. Lessor may, at its sole discretion, terminate Lessee's right to rent the
premises in accordance with Sections F.5.i. and F.S.ii of this agreement at any
time, even where a Notice of Termination has been issued pursuant to Section
F.5.iii. of this agreement.
6. The Lessee shall require all Renters to execute a rental agreement that:
L States that the City of Tukwila is not a party to the rental agreement;
ii. States that the Renter shall defend, indemnify, and hold harmless the City of
Tukwila, its officers, officials, employees and volunteers from and against any and
all claims, suits, actions, or liabilities for injury or death of any person, or for loss
or damage to property, which arises out of the Renter's use of the Site, except
only such injury or damage as shall have been occasioned by the sole negligence
of the City of Tukwila.
7. A template of the rental agreement must be provided to the Lessor for review and
approval prior to the first rental of the Premises.
G. Acceptance of Premises. Lessee has examined the Premises and accepts them in their present
condition.
H. Lessee's Responsibilities. In exchange for Lessor providing the Lessee use of the premise at no
charge, Lessee shall:
Use and occupancy of the Premises shall at all times be consistent with applicable
building, fire, and sign code requirements.
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Continue to work to secure funding, available grants, and private contributions to
complete any tenant improvements or restoration upgrades to the Premises. Proposed
improvements include, but are not limited to, completing additional bathroom upgrades;
and restoring the interior lighting to be more historically appropriate for the building.
Subject to the provisions of this Agreement, the Lessee shall design and implement
improvements to the Premises. All work performed by the Lessee in, on, or about the
Premises shall be subject to prior written review and approval of the Lessor. Materials
and installation shall be provided by the Lessee except when structure and systems within
the building are found to be in deficient condition. The lessor is under no obligation to
repair any latent defects in the structure or systems within the building
4. Obtain all permits that may be necessary to perform such work and ensure all work shall
be performed in a good and workmanlike manner.
5. Capital improvements must meet the City's Facility Plan and follow applicable guidelines
of both state and national covenants related to the Premises' status as a registered
historical landmark.
6. Keep the Premises and the immediate surrounding area neat, clean and in a sanitary
condition.
7. Develop programing for children and youth to educate about the history of Tukwila and
the Duwamish /Green River Valley.
8. Lessee shall maintain appropriate non - profit status and 501(c) (3) status with the
Washington State Secretary of State Office and the United States Internal Revenue
Service, including filing all required annual reports, registrations, and tax documents.
Lessee shall provide documentation of same to Lessor, upon demand.
Provide to the City on an annual basis a list for all officers and all board members of the
Tukwila Historical Society. The list shall be provided to the City no later than April 30th of
each year.
Lessor's Responsibilities.
1. Lessor shall provide and pay for all utilities, routine janitorial, cleaning, and minor repairs.
Lessor's responsibility for said minor repairs shall not to exceed $100.00 per month on
average, or a total of $1,200 per year.
2. Lessor shall maintain and repair the building, including structural, electrical, mechanical
and plumbing systems, as well as grounds and landscaping. Lessor retains absolute
authority and discretion in determining what, if any maintenance or repairs are
performed to the building.
J. Hazardous Substances. Lessee shall not, without first obtaining Lessor's prior written approval,
generate, release, spill, store, deposit, transport or dispose of (collectively "Release ") any
hazardous substance, sewage, petroleum products, radioactive substances, medicinal,
bacteriological, or disease - producing substances, hazardous materials, toxic substances or any
pollutants or substances defined as hazardous or toxic in accordance with applicable federal,
state, and /or local laws and regulations in any reportable quantities (collectively "Hazardous
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Substances ") in, on, or about the Premises. Lessee shall attach a separate list of Hazardous
Substance it proposes to store on site and Lessor must accept the list or the Hazardous Substances
cannot be stored on site. In the event, and only in the event, Lessor approvals Release of
Hazardous Substances on Premises, Lessee agrees that such Release shall occur safely and in
compliance with all applicable federal, state, and local laws and regulations. Lessee shall
indemnify, hold harmless, and defend Lessor from any and all claims, liabilities, losses, damages,
clean -up costs, response costs, and expenses, including reasonable attorney fee, arising out of or
in any way related to the Release by Lessee in, on or about the Premises occurring at any time
after the effective date of this Lease Agreement to the full extent of Lessee's liability therefor.
K. General Indemnification. Lessee shall defend, indemnify, and hold harmless the Lessor, its
officers, officials, employees and volunteers from and against any and all claims, suits, actions, or
liabilities for injury or death of any person, or for loss or damage to property, which arises out of
Lessee's use of the Premises, or from the conduct of Lessee's business, or from any activity, work
or thing done, permitted, or suffered by the Lessee in or about the Premises, except only such
injury or damage as shall have been occasioned by the sole negligence of the Lessor.
Lessee shall ensure that similar hold harmless language is included in any rental agreement, as
discussed in Section III.F.6.iii. of this Lease Agreement.
L. Subletting Space. Subletting the space by Lessee is strictly prohibited.
M. Assignment. Neither party shall assign its rights or responsibilities under this Lease Agreement
without the written authorization of the other party. Written authorization shall not be
unreasonably withheld.
N. Termination.
1. Pursuant to the terms and conditions of this Lease Agreement between the parties, this
Lease Agreement may be terminated upon written mutual agreement between the
parties hereto.
2. In the event Lessee violates any provision of this Lease Agreement, Lessor may terminate
Lessee's use of the Premises upon thirty (30) days prior written notice.
O. Liability Insurance.
1. Insurance Term. Lessee shall procure and maintain for the duration of the Lease
insurance against claims for injuries to persons or damage to property which may arise
from or in connection with the Lessee's operation and use of the Premises.
2. No Limitation. The Lessee's maintenance of insurance as required by the Lease shall not
be construed to limit the liability of the Lessee to the coverage provided by such
insurance, or otherwise limit the Lessor's recourse to any remedy available at law or in
equity.
3. Minimum Scope of Insurance. Lessee shall obtain insurance of the types described below:
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Commercial General Liability insurance shall be at least as broad as Insurance
Services Office (ISO) occurrence form CG 00 01 and shall cover premises and
contractual liability. The Lessor shall be named as additional an insured on
Lessee's Commercial General Liability insurance policy using ISO Additional
Insured - Managers or Lessors of Premises Form CG 20 11 or a substitute
endorsement providing at least as broad coverage.
ii. Lessee shall maintain adequate insurance coverage for Lessee's personal
property located at the premise.
4. Minimum Amounts of Insurance. Lessee shall maintain the following insurance limits:
i. Commercial General Liability insurance shall be written with limits no less than
$1,000,000 each occurrence, $2,000,000 general aggregate.
ii. Personal property insurance shall be written covering the full value of Lessee's
personal property with no coinsurance provisions.
5. Other Insurance Provisions.
i. Lessee's Commercial General Liability insurance policy or policies are to contain,
or be endorsed to contain that they shall be primary insurance as respect the
Lessor. Any Insurance, self - insurance, or insurance pool coverage maintained by
the City of Tukwila shall be excess of the Lessee's insurance and shall not
contribute with it.
6. Acceptability of Insurers.
L Insurance is to be placed with insurers with a current A.M. Best rating of not less
than A, unless approved otherwise by Lessor in writing.
7. Verification of Coverage.
L Within ten (10) days of execution of the Lease, Lessee shall furnish the Lessor with
original certificates and a copy of the amendatory endorsements, including but
not necessarily limited to the additional insured endorsement, evidencing the
insurance requirements of the Lessee.
8. Waiver of Subrogation.
L Lessee and Lessor hereby release and discharge each other from all claims, losses
and liabilities arising from or caused by any hazard covered by property insurance
on or in connection with the Premises or said building. This release shall apply
only to the extent that such claim, loss or liability is covered by insurance.
9. Lessors Property Insurance.
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Lessor shall purchase and maintain during the term of the lease all -risk property
insurance covering the Building for its full replacement value without any
coinsurance provisions.
10. Notice of Cancellation.
L Lessee shall provide the Lessor with written notice of any policy cancellation,
within two (2) business days of their receipt of such notice.
11. Failure to Maintain Insurance.
Lessee shall provide proof of liability insurance coverage at anytime upon request
by the Lessor.
Failure on the part of Lessee to maintain the insurance as required shall constitute
a material breach of Lease, upon which the Lessor may, after giving five business
days' notice to the Lessee to correct the breach, terminate the Lease or, at its
discretion, procure or renew such insurance and pay any and all premiums in
connection therewith, with any sums so expended to be repaid to the Lessor on
demand.
12. Lessor Full Availability of Lessee Limits.
i. If Lessee maintains higher insurance limits than the minimums shown above, the
Lessor shall be insured for the full available limits of Commercial General and
Excess or Umbrella liability maintained by the Lessee, irrespective of whether
such limits maintained by the Lessee are greater than those required by this
contract or whether any certificate of insurance furnished to the Lessor evidence
limits of liability lower than those maintained by the Lessee.
P. Anti - Discrimination. In all hiring, employment, or provision of services made possible resulting
from this Lease Agreement between the parties, Lessee shall not discriminate against any
employee, applicant for employment or any person seeking service of Lessee on the basis of race,
religion, creed, color, national origin, age, veteran status, sex, sexual orientation, gender identity,
marital status, political affiliation or the presence of any disability.
Q. Liens. Lessee shall keep the Premises free from liens arising out of obligations incurred by Lessee.
Upon written request from Lessor, Lessee will furnish written proof of payment of any charge
which, if not paid, could provide the basis for a lien on the Premises.
R. Access for Inspection or Upkeep. Lessor reserves the right to inspect and maintain the Premises,
at a reasonable time and upon responsible notice. Lessee may be present during any and all
inspections and /or maintenance. Lessor reserves the right to access the Premises in the event of
an emergency, without advance notice to Lessee.
S. Compliance with All Laws and Regulations. In using the Premises, Lessee shall comply with all
applicable laws, ordinances and regulations form any and all authorities have jurisdiction.
R
T. Entire Agreement; Modification. This Agreement, together with attachments or addenda,
constitutes the entire and integrated Lease Agreement between the Lessee and the Lessor and
supersedes all prior negotiations, representations, or agreements written or oral. No amendment
or modification of this Lease Agreement shall be of any force or effect unless it is in writing and
signed by the parties.
U. Severability and Survival. If any term, condition or provision of this Lease Agreement is declared
void or unenforceable or limited in its application or effect, such event shall not affect any other
provisions hereof and all other provisions shall remain fully enforceable. The provisions of this
Lease Agreement, which by their sense and context are reasonably intended to survive the
completion, expiration or cancellation of this Agreement, shall survive termination of this
Agreement.
V. Police Power. Nothing in this Agreement shall be construed to diminish, restrict or limit the police
powers of the City of Tukwila granted by the Washington State Constitution or by general law.
W. No Presumption Against Drafter. This Agreement has been reviewed and revised by legal counsel
for both Parties and no presumption or rule that ambiguity shall be construed against the party
drafting the document shall apply to the interpretation or enforcement of this Agreement.
X. Legal Representation. In entering into this Agreement, Lessee represents that it has been advised
to seek legal advice, and counsel from its attorney concerning the legal consequences of this Lease
Agreement; that it has carefully read the foregoing Lease Agreement and knows the contents
thereof, and signs the same of its own free act; and that it fully understands and voluntarily
accepts the terms and conditions of this Lease Agreement.
Y. Notices. Any written notice required or permitted to be given herein shall be made by registered
or certified mail, or by delivery in person to the party which is intended recipient of the notice, at
the following addresses or to such other respective addresses as either party hereto may from
time to time designate in writing:
Notices to the Lessor /City of Tukwila shall be sent to the following address:
City Clerk, City of Tukwila
6200 Southcenter Blvd.
Tukwila, Washington 98188
With a Copy to:
Office of the Mayor
6200 Southcenter Blvd.
Tukwila, Washington 98188
Notices to the Lessee /Tukwila Historical Society shall be sent to the following address:
President, Tukwila Historical Society
Tukwila Heritage and Cultural Center
14475 59th Ave South
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Tukwila, Washington 98168
Z. Applicable Law; Venue; Attorney's Fees. This Agreement shall be governed by and construed in
accordance with the laws of the State of Washington. In the event any suit, arbitration, or other
proceeding is instituted to enforce any term of this Agreement, the parties specifically understand
and agree that venue shall be properly laid in King County, Washington. Each party shall be
responsible for its own legal cost incurred in enforcing any provision of this Lease Agreement.
DATED this _ day of 20
LESSOR/CITY OF TUKWILA LESSEE/TUKWILA HISTORICAL SOCIETY
Mayor, Allan Ekberg
Printed Name and Title
ATTEST/AUTHENTICATED:
City Clerk, Christy O'Flaherty
APPROVED AS TO FORM:
Office of the City Attorney
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Exhibit
Old O' pp
Tukwila Tukwila t9oe,,
14
[to]
FROM:
BY:
DATE:
SUBJECT:
City of Tukwila
Allan Ekberg, Mayoi
INFORMATIONAL MEMORANDUM
Mayor Ekberg
Finance and Safety Committee
Peggy McCarthy, Finance Director
Vicky Carlsen, Deputy Finance Director
March 30, 2016
Fourth Quarter 2015 Cash & Investment Report
ISSUE
The fourth quarter Investment Report is included with this memorandum and is discussed below.
BACKGROUND
City funds are invested to earn a reasonable return while preserving principal and allowing
sufficient liquidity to meet the City's operating needs. To achieve these objectives investments
are diversified by type, by financial institution, and by maturities in compliance with the City
Investment Policy.
DISCUSSION
Portfolio Components
At the end of 2015, the portfolio totaled $50.7 million comprised of $39.0 million in cash and cash
equivalents and $11.7 in longer term investments. The portfolio balance decreased by $1.8
million from a June 30, 2015 balance of $52.5 million. Details on individual fund activity is
provided below in the Fund Cash Investment Balances section.
In May, the City purchased an agency (Federal Home Loan Bank) for $1 million with an interest
rate of 1.22 %. In September, the City purchased an additional agency (Federal Farm Credit
Bank) for $1 million with an interest rate of 1.25 %.
Due to the low interest rate environment, several of the City's longer -term investments were
called. In September, one of the City's agency investments (Federal home Loan Bank) with an
interest rate of 1.27% was called. In October, 2 more agencies (Federal Home Loan Bank)
investments were called. Each agency was $1 million each with interest rates of 1.3% and 1.5%
respectively. In December, the City of Marysville called $125 thousand of their LTGO taxable
bonds.
The net impact of the above transactions decreased the percentage of the City's longer -term
investments, however, the total portfolio yield is at 0.56% because of the higher interest rate on
the agencies and bonds.
Portfolio Performance
The portfolio weighted average yield on December 31, 2015, was .56 %. Considering the
portfolio's weighted average maturity was 1.0 years, and the yield on the cash & cash equivalent
accounts was .27 %, the portfolio yield of 0.56% is still relatively favorable. The yield has been
sustained by the 3.21 % average yield on the municipal bond investments, the .87% yield on the
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INFORMATIONAL MEMO
Page 2
certificate of deposits, the .89% yield on the agencies, and the .45% earnings credit on the US
Bank depository account.
Investment income for fiscal year 2015 for all investments is $349,011 plus $70,882 of accrued
municipal bond and agencies interest for a total of $7,942 against a budget of $187,088.
Not included in the portfolio is interest earned from the operating and capital loans to the MPD.
The operating loan is being repaid on a monthly basis and will be paid in full by May 2023. Interest
earned on the loan through December 2015 is $17,857. The capital loan is being repaid semi-
annually and will be paid in full by December 2022. Interest through December 2015 is $13,623.
Attached to the investment report are amortization schedules for both loans to the MPD.
Policy Compliance and Liquidity Analysis
As of the end of the 4th quarter, the portfolio profile is well within the range of all the investment
policy parameters. There is currently a healthy mix of investments with a range of maturity dates.
Current investments allow for adequate cash flow requirements.
Fund Cash & Investment Balances
Total fund cash and investments balances are
2014 year -end.
$49.4 million, which is $5.7 million higher than
The general fund total cash and investment balance is $8.2 million, which is $357K higher than
2014.
Special revenue funds, which include hotel /motel, contingency, and drug seizure funds,
decreased balances by $232K. $350K was transferred from the contingency fund to the general
fund and marked as assigned fund balance for the Police department RMS system.
The arterial street fund in the capital projects fund group shows the largest change with an
increase of $4.1 million. The City issued $5.8 million LTGO bonds as partial funding for the
Interurban South and BAR Bridge projects. Proceeds are expected to be spent by the end of
2016.
The sewer fund cash and investment balance increased by $1.7 million while the other enterprise
funds show minimal increases.
Investment Environment
While the Federal Reserve increased the target rate from zero to 0.25% in December 2015, it is
anticipated that additional rate hikes will not likely occur until at least June of 2016. Moderate
growth and uncertainties overseas is expected to hold the Fed to only 2 possible rate hikes. The
first rate hike is anticipated in June and a second one possibly in December.
Job growth is expected to stay strong in 2015, averaging 200,000 jobs a month gain.
Unemployment rate, currently just under 5 %, is expected to decrease throughout the year to
4.6 %. Consumer spending grew slightly in January 2016 with modest growth predicted
throughout the year.
The portfolio will continue to be managed to take advantage of investment opportunities as they
arise.
RECOMMENDATION
Presentation is for information only.
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INFORMATIONAL MEMO
Page 3
ATTACHMENTS
Cash and Investment Report
Policy Compliance & Liquidity Analysis
Cash and Investment Balances by Fund
Treasury Rates and Yield Curves
Amortization Schedule — MPD Operating Loan
Amortization Schedule — MPD Capital Loan
17
IF.,
CITY OF TUKWILA
CASH & INVESTMENT REPORT
December 31, 2015
Total Cash & Cash Equivalents
2.7
5,000,000
4,999,750
(a)
39,000,980
(c)
(d)
Rating
INVESTMENTS
Purchase
Maturity
Term Par
Book
Yield to
Annualized
Agency/ Issuer Moodys
Investment Type
Date
Date
Yrs Value
Balance
Maturi
Return
CASH & CASH EQUIVALENTS
5.5
290,000
Bank of Washington
Certificate of Deposit
4/1/2015
5/1/2016
1.1
US Bank
Depository
Various
(b)
$13,905,335
$13,905,335
(e)
56,547
3.0
3,000,000
3,174,738
0.85%
26,861
0.45%
Washington State Treasurer
LGIP Investment Pool
Various
(b)
10,948,851
10,948,851
(f)
14,716
2.9
3,250,000
3,424,738
0.87%
0.2160%
Agencies
Columbia Bank
Money market
Various
(b)
14,146,794
14,146,794
(f)
32,903
Federal Home Loan Mtg Corp
US agency
4/10/2014
5/13/2016
2.1
2,000,000
0.28%
0.50%
Total Cash & Cash Equivalents
2.7
5,000,000
4,999,750
0.89%
39,000,980
39,000,980
0.27%
104,166
INVESTMENTS
Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016
5.6
500,000
500,728
3.60%
18,026
Certificates of Deposit
City of Marysville, sinking Aa3 LTGO Refunding 11/23/2010 1211/2017
5.5
290,000
Bank of Washington
Certificate of Deposit
4/1/2015
5/1/2016
1.1
250,000
250,000
0.80%
1,507
Sound Community Bank
Certificate of Deposit
3/4/2014
3/4/2017
3.0
3,000,000
3,174,738
0.85%
26,861
CERTIFICATES OF DEPOSIT -- TOTAL
2.9
3,250,000
3,424,738
0.87%
28,368
Agencies
Federal Home Loan Mtg Corp
US agency
4/10/2014
5/13/2016
2.1
2,000,000
2,000,476
0.50%
10,000
( FHLMC)
FNMA
US agency
6/6/2014
8/23/2017
3.2
1,000,000
999,274
1.00%
10,008
FHLB US agency 9/21/2015 9/21/2018 3.0 1,000,000 1,000,000 1.22% M 12,200
FHLMC US agency 5/29/2015 5/25/2018 3.0 1,000,000 1,000,000 1.25% (f) 12,500
TOTAL AGENCIES
2.7
5,000,000
4,999,750
0.89%
44,708
Taxable Municipal Bonds
Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016
5.6
500,000
500,728
3.60%
18,026
Center Facility
City of Marysville, sinking Aa3 LTGO Refunding 11/23/2010 1211/2017
5.5
290,000
327,149
3.37%
11,025
2014 -2017, ave 5.5 years
UW Biomedical Center Aai Revenue Bonds 12/14/2010 7/1/2017
6.6
500,000
501,586
4.05%
20,314
UW Biomedical Center Aai Revenue Bonds 12/14/2010 7/1/2019 8.6 500,000 502,565 4.70% 23,621
Douglas County, ESD, sinking Aal UTGO 12/23/2010 12/1/2020 8.9 1,135,000 1,144,802 4.55% 52,088
2018 -2020, ave 9 yrs
Port of Anacortes Al LTGO 12/17/2010 9/1/2020 9.7 340,000 333,598 5.00% 16,680
TOTAL MUNICIPAL BONDS 6.9 3,265,000 3,310,426 3.21% 106,316
Total Investments 4.2 11,515,000 11,734,915 1.53% 179,392
TOTAL CASH, CASH EQUIVALENTS & INVESTMENTS 1.0 $ 50,515,980 $ 50.735.896 1 0.56% 1 $ 283.558
Current Portfolio
(a) On calleable bonds, term is calculated to final maturity even though call date may occur first; term of liquid investments is one
day; on sinking fund bonds, average maturity is used to calculate term.
(b) No foxed maturity, funds are available within one day. Percent of Cash & Investment Portfolio
7%
23%
19
CITY OF TUKWILA
Policy Compliance & Liquidity Analysis
CASH & INVESTMENT REPORT
December 31, 2015
Liauidity Analvsis & Maturity Diversification
Funds immediately available
Fixed Maturity Investments, maturing in:
0 -90 days after Report Date
91 -180 days after Report Date
Investments maturing in 1 year or less
Investments maturing in 1 -3 years
Investments maturing in 3 -5 years
Investments maturing in 5 -7 years
Investments maturing in 7 -10 years
Investments maturing in more than 1 year
and less than 10 years.
As of Report Date
Available Available Available in
Portfolio Within 1 Year Within 5 5 - 10 Years
Amount Years
$ 39,000,980 $ 39,000,980 $ 39,000,980
2,250,476
2,751,204
7,002,747
1,980,965
8,983,712
2,751,204 2,751,204
7,002,747
1,980,965
TOTALS $ 50,735,896 $ 41,752,184 $ 50,735,896 $ -
82% 100% 0%
�.�r � r
. �., ,��,�i r /.... le.,.. ✓r / /, L ,,,ra; r. i � /,,,a.., /. ,.T,,.�o,,,. l �rr,�,.,!,r ! , �, .,.,.; ,r .�1, , „ ,�, <. �.r, �. ,ir„re, r ,,, �.e�;� r �,..,, «. / Fr,�..�� i olir�rv.I� r r / ��, ddi
Liauiditv Reauirements and Funds Available for Investina:
Funds immediately available $ 39,000,980
Restrictions & designations:
Operating liquidity (a) 14,000,000
Liquidity threshold 14,000,000
Funds available for longer term investing 25,000,980
(a) Represents largest one month decline in portfolio balance over the most recent 36 month period doubled; or the
equivalent of a 100% cushion.
r r
fy. >�.U,� r/ Ui .,r,�, it � „� „/G r. ,ava.�, /% ev 2�a. �ro,�. .,, ��, c�c Jo.,lr „irr,,,,✓� ,z,,,.o.,,,r ✓ rri „.v� r, r,�. / /// „e.���r,r /,.�„�n ri/ �,�e,.:n � / „�r 66r .,��dai � „�, ".;
Note: Cash and cash equivalents are available within one day and are factored
into the Total Portfolio weighted average maturity.
20
Portfolio
POLICY
Policy
Financial Institution Diversification
Amount
% of Total
MAXIMUM
Met?
US Bank
$ 13,905,335
27.4%
50.0%
Yes
Washington State Treasurer
10,948,851
21.6%
75.0%
Yes
Columbia Bank
14,146,794
27.9%
50.0%
Yes
Sound Community Bank
3,174,738
6.3%
50.0%
Yes
Other financial institutions
8,560,178
16.9%
50.0%
Yes
Total
$ 50,735,896
100.0%
Portfolio
POLICY
Policy
Investment Mix
Amount
% of Total
MAXIMUM
Met?
Depository
13,905,335
27.4%
insured by PDPC
Yes
State Investment Pool
10,948,851
21.6%
75.0%
Yes
Money market
14,146,794
27.9%
insured by PDPC
Yes
Certificate of Deposit
3,424,738
6.8%
insured by PDPC
Yes
US Agency
4,999,750
9.9%
75.0%
Yes
Municipal Bonds
3,310,428
6.5%
no limit specified in policy
Yes
Total
50, 735, 896
100.0%
Weighted Averaae Maturites:
Years
Performance Analysis
Certificates of deposit
2.9
Current portfolio yield
0.56%
Benchmarks:
Municipal bonds
6.9
6 month treasury
0.49%
Total Investments
4.2
2 year treasury
1.06%
Total Portfolio
1.0
Local Govt Invst Pool
(f) 0.2160%
POLICY MAXIMUM
3.5
Policy Met?
Yes
Note: Cash and cash equivalents are available within one day and are factored
into the Total Portfolio weighted average maturity.
20
CITY OF TUKWILA
Cash & Investment Balances By Fund and Fund Group
CASH & INVESTMENT REPORT
December 31, 2015
Funds not included in the Grand Total are the fiduciary funds. However, these balances ($1,364,230) are included in the investment balances.
21
Balances
Balances
Balances
Balances
• mossommom
0
11 1 1 1 1 1 1, 1
12131/14
12131113
12131/12
12/31/11
Ge n eral
m,
000
GENERAL
8,181, 181, 427
$ 7,824,725
$ 7,737,222
$ 3,826,856
$ 3,554,218
General Total
6,,181,427
7,824,725
7,737,222
3,826,856
3,554,218
Special Revenue
101
HOTEUMOTEL TAX
450,230
432,607
537,454
398,276
416,263
105
CONTINGENCY
5,574,087
5,766,790
5,762,932
1,460,454
1,457,728
107
FIRE EQUIP. CUM. RESERVE
-
-
-
944,770
949,888
DRUG SEIZURE FUND
mm .. A
5,263 3
92,161
75,609
161,355
229,711
S cial Revenue Total
6059580
6,291,559
6,375,995
2,964,856
3,053,591
Debt Service
200
DEBT SERVICE
167,372
-
-
-
_
206
L.I. GUARANTEE
669,148
669,147
668,849
-
208
LIMITED TAX G.O. BONDS 2000
-
-
-
-
70
209
LIMITED TAX G.O. BONDS 2003
1
1
-
3,006,134
3,303,041
210
LIMITED TAX G.O. REFUNDING 2003
195
195
497
246
1,156
211
LIMITED TAX G.O. REFUNDING 2008
416
416
718
217
5,408
212
LTGO SCORE BONDS
2
2
1,453
126
707
213
LTGO SCORE BLD AMER BONDS
-
-
-
995
616
214
LTGO 2010 Series A
33,705
2,710
6,561
37
37
215
LTGO 2010 Series B
-
-
-
4,612
5,264
216
VALLEY COM Refunding bonds 2010
794
794
74
14
14,014
217
LIMITED TAX GO BONDS REFUNDING
539
539
514
-
-
218
LTGO 2013
-
-
-
_
233
LID #33 v
_ 1,038,769
1,013,693
17,681
-
Debt Service Total _.,
� ITm -IT _
1910 940®
1,687,496
696,346
3,012,381
3,330,312
Capital Project
103
STREET
926,387
1,175,916
1,359,905
1,031,761
861,950
104
ARTERIAL STREET
4,608,747
462,014
1,167,156
394,755
4,640,647
301
LAND ACQ, REC & PARK DEVLPMNT
428,793
1,292,321
1,159,366
1,068,126
1,662,953
302
FACILITY REPLACEMENT
1,300,301
1,103,366
2,005,539
2,105,864
2,027,271
303
GENERAL GOVERNMNT IMPROVEMENTS
432,673
430,911
5111
164,599
561,688
304
FIRE IMPACT FEES
551,,434
504,500
437,222
348,010
313,819
Ca ital Pro t Total
_
8.248e335 M
4,969,028
6,645,499
5,113,114
10,068,327
Enterprise
400
UTILITY ON ACCT (overpayments)
20
170
-
-
-
401
WATER
5,909,208
5,826,837
6,315,350
4,635,412
4,533,184
402
SEWER
6,422,030
4,701,199
2,755,073
1,584,458
997,382
404
WATER/SEWER REVENUE BONDS
-
-
-
-
-
405
BOND RESERVE
-
-
-
_
411
FOSTER GOLF COURSE
803,501
829,633
535,926
309,581
32,012
412
SURFACE WATER _ - .
_.. 1,877v777
1,695,931
2,612,292
2,344,887
2,097,280
15.012.537 12.537
13,053,771
12,218,641
8,874,338
7,659,857
Internal Service
501
EQUIPMENT RENTAL
5,137,691
4,575,448
4,316,337
4,167,390
3,515,168
502
INSURANCE
3,888,853
4,710,763
6,087,219
6,390,261
6,435,672
503
INSURANCE - LEOFF 1
932,303
526,650
1,111,132
1,921,032
1,822,186
Internal Service Total
9,956,847
9,812,861
11,514,688
12,478,683
11,773,025
Grand Total
49,371,666
43,639,440
45,188,392
36,270,227
_39,439,330
Funds not included in the Grand Total are the fiduciary funds. However, these balances ($1,364,230) are included in the investment balances.
21
CITY OF TUKWILA
Treasury Rates and Yield Curves
CASH & INVESTMENT REPORT
December 31, 2015
Rates at December 31, 2015
Source: US Department of the Treasury
Ratac at nPrramhar R1 9r11d
3mo
6mo
1 Yr
2Yr
3Yr
5Yr
10Yr
30Yr
Comparison of Treasury Rates
0.04%
0.12%
0.25%
0.67%
1.10%
1.65%
2.17%
2.75%
22
ate
§1001M
Change
Change
3mo
0.16%
0.12%
75%
6mo
0.49%
0.37%
76%
1 Yr
0.65%
0.40%
62%
2Yr
1.06%
0.39%
37%
3Yr
1.31%
0.21%
16%
5Yr
1.76%
0.11%
6%
10Yr
2.27%
0.10%
4%
30Yr
3.01%
0.26%
9%
Source: US Department of the Treasury
Ratac at nPrramhar R1 9r11d
3mo
6mo
1 Yr
2Yr
3Yr
5Yr
10Yr
30Yr
Comparison of Treasury Rates
0.04%
0.12%
0.25%
0.67%
1.10%
1.65%
2.17%
2.75%
22
MPD Operating Loan - through end of 2015 only
Period
Accumulated
Interest
(Date)
Beg Bal
Funding
Payments
Interest
End Bal
Interest
Principal Pmt
Pmt
10/1/2011
$ -
$ 191,294
$ -
$ 319
$ 191,613
$ 319
11/1/2011
191,612.82
-
-
319.35
191,932.18
638.18
12/1/2011
191,932.18
-
-
319.89
192,252.07
958.07
1/1/2012
192,252.07
-
-
320.42
192,572.49
1,278.49
2/1/2012
192,572.49
-
-
320.95
192,893.44
1,599.44
3/1/2012
192,893.44
-
-
321.49
193,214.93
1,920.93
4/1/2012
193,214.93
225,000.00
-
697.02
418,911.95
2,617.95
5/1/2012
418,911.95
-
-
698.19
419,610.14
3,316.14
6/1/2012
419,610.14
-
-
699.35
420,309.49
4,015.49
7/1/2012
420,309.49
-
-
700.52
421,010.01
4,716.01
8/1/2012
421,010.01
-
-
701.68
421,711.69
5,417.69
9/1/2012
421,711.69
-
-
702.85
422,414.54
6,120.54
10/1/2012
422,414.54
433,706.00
-
1,426.87
857,547.41
7,547.41
11/1/2012
857,547.41
-
-
1,429.25
858,976.66
8,976.66
12/1/2012
858,976.66
-
-
1,431.63
860,408.28
10,408.28
1/1/2013
860,408.28
250,000.00
-
1,850.68
1,112,258.96
12,258.96
2/1/2013
1,112,258.96
-
-
1,853.76
1,114,112.73
14,112.73
3/1/2013
1,114,112.73
-
-
1,856.85
1,115,969.58
15,969.58
4/1/2013
1,115, 969.58
-
-
1,859.95
1,117,829.53
17,829.53
5/1/2013
1,117,829.53
-
19,692.58
1,863.05
1,100,000.00
19,692.58
19,692.58
6/1/2013
1,100,000.00
-
10,121.48
1,833.33
1,091,711.85
21,525.91
8,288.15
1,833.33
7/1/2013
1,091,711.85
-
10,121.48
1,819.52
1,083,409.89
23,345.43
8,301.96
1,819.52
8/1/2013
1,083,409.89
-
10,121.48
1,805.68
1,075,094.10
25,151.12
8,315.80
1,805.68
9/1/2013
1,075,094.10
-
10,121.48
1,791.82
1,066,764.44
26,942.94
8,329.66
1,791.82
10/1/2013
1,066,764.44
-
10,121.48
1,777.94
1,058,420.90
28,720.88
8,343.54
1,777.94
11/1/2013
1,058,420.90
-
10,121.48
1,764.03
1,050,063.46
30,484.92
8,357.45
1,764.03
12/1 /2013
1,050,063.46
-
10,121.48
1,750.11
1,041,692.08
32,235.02
8,371.37
1,750.11
1/1/2014
1,041,692.08
-
10,121.48
1,736.15
1,033,306.76
33,971.18
8,385.33
1,736.15
2/1/2014
1,033,306.76
-
10,121.48
1,722.18
1,024,907.45
35,693.35
8,399.30
1,722.18
3/1/2014
1,024,907.45
-
10,121.48
1,708.18
1,016,494.15
37,401.53
8,413.30
1,708.18
4/1/2014
1,016,494.15
-
10,121.48
1,694.16
1,008,066.83
39,095.69
8,427.32
1,694.16
5/1/2014
1,008,066.83
-
10,121.48
1,680.11
999,625.46
40,775.80
8,441.37
1,680.11
6/1/2014
999,625.46
-
10,121.48
1,666.04
991,170.02
42,441.84
8,455.44
1,666.04
7/1/2014
991,170.02
-
10,121.48
1,651.95
982,700.49
44,093.79
8,469.53
1,651.95
8/1/2014
982,700.49
-
10,121.48
1,637.83
974,216.85
45,731.63
8,483.65
1,637.83
9/1/2014
974,216.85
-
10,121.48
1,623.69
965,719.06
47,355.32
8,497.79
1,623.69
10/1/2014
965,719.06
-
10,121.48
1,609.53
957,207.11
48,964.85
8,511.95
1,609.53
11/1/2014
957,207.11
-
10,121.48,
1,595.35
948,680.98
50,560.20
8,526.13
1,595.35
12/1/2014
948,680.98
-
10,121.48
1,581.13
940,140.63
52,141.33
8,540.34
1,581.14
1/1/2015
940,140.63
-
10,121.48
1,566.90
931,586.06
53,708.24
8,554.58
1,566.90
2/1/2015
931,586.06
-
10,121.48
1,552.64
923,017.22
55,260.88
8,568.84
1,552.64
3/1/2015
923,017.22
-
10,121.48
1,538.36
914,434.10
56,799.24
8,583.12
1,538.36
4/1/2015
914,434.10
-
10,121.48
1,524.06
905,836.68
58,323.30
8,597.42
1,524.06
5/1/2015
905,836.68
-
10,121.48
1,509.73
897,224.93
59,833.03
8,611.75
1,509.73
6/1/2015
897,224.93
-
10,121.48
1,495.37
888,598.82
61,328.40
8,626.11
1,495.37
7/1/2015
888,598.82
-
10,121.48
1,481.00
879,958.34
62,809.40
8,640.48
1,481.00
8/1/2015
879,958.34
-
10,121.48
1,466.60
871,303.46
64,276.00
8,654.88
1,466.60
9/1/2015
871,303.46
-
10,121.48
1,452.17
862,634.15
65,728.17
8,669.31
1,452.17
10/1/2015
862,634.15
-
10,121.48
1,437.72
853,950.39
67,165.89
8,683.76
1,437.72
11/1/2015
853,950.39
-
10,121.48
1,423.25
845,252.16
68,589.14
8,698.23
1,423.25
_ 12/11/2015 _
__
_84_5,252.16
_ _ _ _ _ _ _ _
_ 10,121.48
1,408.7_5
_ _ 836_539.44_
—82-7—,81-
_ _69_997.90_
1/1/2016
836,539.44
-
10,121.48
1,394.23
27,812.19
71,392.13
_ _ _8,712.73_
8,727.25
_ _1_4_08.75
1,394.23
2/1/2016
827,812.19
-
10,121.48
1,379.69
819,070.40
72,771.82
8,741.79
1,379.69
3/1/2016
819,070.40
-
10,121.48
1,365.12
810,314.03
74,136.93
8,756.36
1,365.12
4/1/2016
810,314.03
-
10,121.48
1,350.52
801,543.08
75,487.46
8,770.96
1,350.52
5/1/2016
801,543.08
-
10,121.48
1,335.91
792,757.50
76,823.36
8,785.57
1,335.91
6/1/2016
792,757.50
-
10,121.48
1,321.26
783,957.28
78,144.62
8,800.22
1,321.26
7/1/2016
783,957.28
-
10,121.48
1,306.60
775,142.40
79,451.22
8,814.88
1,306.60
8/1/2016
775,142.40
-
10,121.48
1,291.90
766,312.82
80,743.12
8,829.58
1,291.90
9/1/2016
766,312.82
-
10,121.48
1,277.19
757,468.53
82,020.31
8,844.29
1,277.19
10/1/2016
757,468.53
-
10,121.48
1,262.45
748,609.50
83,282.76
8,859.03
1,262.45
11/1/2016
748,609.50
-
10,121.48
1,247.68
739,735.70
84,530.44
8,873.80
1,247.68
12/1/2016
739,735.70
-
10,121.48
1,232.89
730,847.11
85,763.33
8,888.59
1,232.89
rent
23
Capital Loan to MPD Repayment Schedule
MPD Capital Loan
PAYMENT BEGINNING PRINCIPAL INTEREST INTEREST
DUE DATE
BALANCE
PAYMENT RATE
PAYMENT
ENDING
2/1/2013
Amount loaned to the
MPD
1,000,000.00
6/1/2013
1,000,000.00
(50,731.67)
0.02
(5,833.33)
949,268.33
12/1/2013
949,268.33
(48,258.90)
0.02
(8,306.10)
901,009.43
6/1/2014
901,009.43
(48,681.17)
0.02
(7,883.83)
852,328.26
12/1/2014
852,328.26
(49,107.13)
0.02
(7,457.87)
803,221.13
6/1/2015
803,221.13
(49,536.82)
0.02
(7,028.18)
753,684.31
_ 1_2/1 /2015 _
_753,68_4.31 _
_ (49,970_.26 _ _ _ _0.02_
-(4-6,-5-37-07)
_ (,594.74_
_ 7_03,714.05
6/1/2016
703,714.05
0.03
(10,027.93)
_
657,176.98
12/1/2016
657,176.98
(47,200.23)
0.03
(9,364.77)
609,976.75
6/1/2017
609,976.75
(47,872.83)
0.03
(8,692.17)
562,103.92
12/1/2017
562,103.92
(48,555.02)
0.03
(8,009.98)
513,548.90
6/1/2018
513,548.90
(49,246.93)
0.03
(7,318.07)
464,301.97
12/1/2018
464,301.97
(49,948.70)
0.03
(6,616.30)
414,353.27
6/1/2019
414,353.27
(48,277.93)
0.04
(8,287.07)
366,075.34
12/1/2019
366,075.34
(49,243.49)
0.04
(7,321.51)
316,831.85
6/1/2020
316,831.85
(50,228.36)
0.04
(6,336.64)
266,603.49
12/1 /2020
266,603.49
(51,232.93)
0.04
(5,332.07)
215,370.56
6/1/2021
215,370.56
(52,257.59)
0.04
(4,307.41)
163,112.97
12/1/2021
163,112.97
(53,302.74)
0.04
(3,262.26)
109,810.23
6/1/2022
109,810.23
(54,368.80)
0.04
(2,196.20)
55,441.43
12/1 /2022
55,441.43
(55,441.43)
0.04
(1,108.83)
0.00
(131,285.26)
24
Prior
Current
City of Tukwila Allan Ekberg, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Ekberg
Finance and Safety Committee
FROM: Peggy McCarthy, Finance Director
BY: Sandy Garrett, Senior Fiscal Coordinator
DATE: April 05, 2016
SUBJECT: Sales Tax and Miscellaneous Revenue Report - 4t" Quarter 2015
Schedule I - Sales Tax
in $1,000's
Fourth quarter sales tax collections were $2,317K more than for the same quarter in the
previous year, resulting in a 14% increase. There was an increase in construction sales tax of
$436K over the same quarter last year, or up by 53% as well as an increase in sales tax from
other industries of $1,881 K which resulted in a rise of 12 %.
25
2014 Actual
2016 Actual
YOY Change
Other
Month
Other
Total
Other
Total
Construction
Industries
Total
Collect-
Construct
I
Construe
I
I
I
ed
Rec'd
tion 1 Industries
tion 1 Industries
Amount
%
Amount
% Amount
%
Jan
Mar
$ 57 I $
1,049 I $
1,106
$ 85 I $
1,195 I
$ 1,280
$ 28
49 %1
$ 146
14 %1 $
174
16%
Feb
Apr
341
1,0471
1,081
861
1,2271
1,313
52
153 %1
180
17 %1
232
21%
Mar
Vby
561
1,265 '
1,321
99 '
1,362 '
1,461
43
78 %'
97
8 %'
140
11%
Q -1 Totals
$ 147
3,361 $
3,608
$ 270
3,784
$ 4,064
$ 123
84 %:
423
13 %: $
646
16%
Apr
Jun
57
1,135
1,192
109
1,210
1,319
52
91 %
75
7 %1
127
11%
May
Jul
53 ;
1,201 ;
1,254
91
1,453 ;
1,544
38
72 %;
252
21 %;
290
23%
Jun
Aug
75 !
1,303 !
1,378
141
1,621 !
1,762
66
88 %!
318
24 %!
384
28%
Q -2 Totals
$ 185 !
3,639 ! $
3,824
$ 341 !
4,285 !
$ 4,626
$ 156
84 %!
646
18 %! $
802
21%
Jul
Sep
80 I
1,315 I
1,395
95
1,653 I
1,748
15
19 %1
338
26 %1
353
25%
Aug
Oct
871
1,3011
1,388
1331
1,4631
1,596
46
52 %1
162
12 %1
208
15%
Sep
Nov
91 '
1,340 '
1,431
124 '
1,4481
1,572
33
37 %'
108
8 %'
141
10%
Q -3 Totals
$ 258
3,956 $ 4,214
$ 352
4,564
$ 4,916
$ 94
37 %:
608
15 %: $
702
17%
Oct
Dec
64
1,319
1,383
93
1,414
1,507
29
45 %
95
7 %
124
9%
Nov
Jan
87 ;
1,396 ;
1,483
98
1,370 ;
1,468
11
13 %;
(26)
-2 %;
(15)
-1%
Dec
Feb
78 !
1,857 !
1,935
100
1,992 !
2,092
22
28 %!
136
7 %!
158
8%
Q -4 Totals
$ 229 !
4,572 ! $ 4,801
$ 291 !
4,776 !
$ 6,067
$ 62
27 %!
205
4 %!
267
6%
Totals
$ 819 I
15,528 I $16,347
$ 1,255 I
17,409 I
$18,664
$ 436
53 %I
1,881
12 %I $
2,317
14%
Fourth quarter sales tax collections were $2,317K more than for the same quarter in the
previous year, resulting in a 14% increase. There was an increase in construction sales tax of
$436K over the same quarter last year, or up by 53% as well as an increase in sales tax from
other industries of $1,881 K which resulted in a rise of 12 %.
25
26
INFORMATIONAL MEMO
Page 2
Budget to Actual - Sales Tax in $1,000's
Schedule I - Sales Tax
Actual revenue from sales tax collections received through the fourth quarter exceeded
amended budget estimates by $177K or one percent.
W: \FIN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
27
2014
2015
j
l
--
Month
Collect-
Original
ed
Rec'd
Actual
Budget
, ,
Actual
Amt %
Jan
Mar
$
1,106
$
1,107
$
1,136 $
1,251
$ 1,280
$ 29 2%
Feb
Apr
1,081
1,082
1,110
1,223
1,313
90 7%
Mar
May
1,321
1,322
1,357
1,494
1,462
(32) -2%
Q -1 Totals
$
3,508
$
3,512
$
3,602 $
3,967
$ 4,054
$ 87 2%
Apr
Jun
1,192
1,193
1,224
1,348
1,319
(29) -2%
May
Jul
1,254
1,255
1,288
1,418
1,544
126 9%
Jun
Aug
1,378
1,380
1,385
1,558
1,762
204 13%
Q -2 Totals
$
3,824
$
3,828
$
3,897 $
4,325
$ 4,626
$ 301 7%
Jul
Sep
1,395
1,397
1,433
1,578
1,748
170 11%
Aug
Oct
1,388
1,390
1,425
1,570
1,596
26 2%
Sep
Nov
1,431
1,433
1,470
1,618
1,572
(46) -3%
Q -3 Totals
$
4,214
$
4,219
$
4,327 $
4,766
$ 4,916
$ 151 3%
Oct
Dec
1,383
1,385
1,420
1,564
1,507
(57) -4%
Nov
Jan
1,483
1,485
1,523
1,677
1,469
(208) -12%
Dec
Feb
1,935
1,937
1,987
2,188
2,091
(97) -4%
Q -4 Totals
$
4,801
$
4,806
$
4,930 $
5,430
$ 5,067
$ (363) -7%
Totals
$
16,347
$
16,365
$
16,787 $
18,487
$ 18,664
$ 177 1%
Actual revenue from sales tax collections received through the fourth quarter exceeded
amended budget estimates by $177K or one percent.
W: \FIN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
27
RE-11
INFORMATIONAL MEMO
Page 3
Below is a graph of sales tax collections by type of industry showing overall change between the
2014 and 2015 revenue receipts.
The overall construction increase shown above is primarily due to the Construction of Buildings
category. Decrease in manufacturing is partially due to the Transportation Equipment
Manufacturing category, which shows a decline in gross sales activity.
The overall significant increase in the "Wholesale Trade" category is attributable to the NAICS
category 423, "Wholesale Trade in Durable Goods ". The increase in the "Retail Trade" category
is due to increased sales activity in the areas of Electronics & Appliances of $68K, Building
Material & Garden of $82K, Clothing & Accessories of $144K and General Merchandise Stores
of $69K.
Of the $895K rise in the "Services" category, there were combined increases totaling $718
K in the areas of: Information, Real Estate /Rental /Leasing, Professional /Scientific/Technology,
Health Care /Social Assistance, Arts & Entertainment and Accomodation & Food Services.
The miscellaneous category includes activities from agriculture, forestry, fishing and
mining /utilities with "Unclassifiable Establishments" showing the most increase of $215K.
WARN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
29
30
INFORMATIONAL MEMO
Page 4
Schedule II shows the year -to -date sales tax from the top ten industry classifications. Wholesale
Trade, Durable Goods in the NAICS 423 category continues to have the highest year over year
increase at $409,393 due to growth in overeall gross sales. This is followed by an increase of
$401,259 in the category of Construction of Buildings. This increase is partially attributable to
several construction companies reporting year -to -date sales tax revenue that previously did not
have any activity reported in the same period from the previous year as well as an increase in
sales activity.
Schedule II
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date. While the NAICS category for Miscellaneous Store Retailers
experienced a year -to -date decrease in sales tax collections of $89K, the NAICS 611
Educational Services had a 53.14% decrease in sales activity over the previous year.
Schedule III
YTD
YTD
Dollar
%
Group
Name
Current
Prior
Diff.
Diff.
452
General Merchandise Stores
$
2,206,290.03
$
2,137,244.03
$
69,046
3.23%
448
Clothing and Accessories
$
2,157,481.33
$
2,013,039.55
$
144,442
7.18%
423
Wholesale Trade, Durable Goods
$
1,856,416.74
$
1,447,023.94
$
409,393
28.29%
722
Food Services, Drinking Places
$
1,614,072.00
$
1,590,851.00
$
23,221
1.46%
443
Electronics and Appliances
$
1,051,229.05
$
982,899.32
$
68,330
6.95%
236
Construction of Buildings
$
816,608.08
$
415,348.80
$
401,259
96.61%
441
Motor Vehicle and Parts Dealer
$
736,245.63
$
675,796.39
$
60,449
8.94%
444
Building Material and Garden
$
683,037.47
$
600,553.48
$
82,484
13.73%
721
Accommodation
$
598,415.00
$
562,130.00
$
36,285
6.45%
517
Telecommunications
$
622,144.00
$
486,752.00
$
135,392
27.82%
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date. While the NAICS category for Miscellaneous Store Retailers
experienced a year -to -date decrease in sales tax collections of $89K, the NAICS 611
Educational Services had a 53.14% decrease in sales activity over the previous year.
Schedule III
WARN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
31
YTD
YTD
Dollar
%
Group
Name
Current
Prior
Diff.
Diff.
453
Miscellaneous Store Retailers
$
655,645.59
$
744,801.92
$
(89,156)
- 11.97%
336
Transportation Equipment Man
$
129,311.59
$
171,683.13
$
(42,372)
- 24.68%
611
Educational Services
$
23,429.11
$
49,997.91
$
(26,569)
- 53.14%
531
Real Estate
$
39,047.00
$
59,351.00
$
(20,304)
- 34.21%
442
Furniture and Home Furnishings
$
435,187.01
$
449,664.51
$
(14,478)
- 3.22%
511
Publishing Industries
$
57,656.00
$
71,024.00
$
(13,368)
- 18.82%
238
Administrative and Support Svc
$
111,265.00
$
121,823.00
$
(10,558)
- 8.67%
522
Miscellaneous Manufacturing
$
14,924.00
$
19,464.00
$
(4,540)
- 23.33%
518
Personal and Laundry Services
$
111,356.00
$
114,835.00
$
(3,479)
- 3.03%
339
Food and Beverage Stores
$
222,022.00
$
224,706.00
$
(2,684)
- 1.19%
WARN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
31
32
INFORMATIONAL MEMO
Page 5
The following charts show sales tax receipts the City collected from major industries between
2010 through the current year. These categories include retail, services, wholesale,
construction, and other consisting of manufacturing, transportation & warehousing, automotive,
and miscellaneous.
Retail
Wholesale
11112010
111 2011
11112012
® 2013
111 2014
11112015
11112010
111 2011
11112012
® 2013
1111112014
11112015
Services
Construction
Other -Mfg. Trnsp /Wrhsng,
Automotive, & Misc.
11112010
111 2011
11112012
® 2013
1111112014
11112015
WARN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
33
34
INFORMATIONAL MEMO
Page 6
Below is Schedule IV which shows quarterly gambling tax earned for the prior year compared to
the current year.
Schedule IV - Gambling Tax (a)
(c) 2015 I INCREASE (DECREASE)
Quarter 2014 2015 Prorated YEAR OVER YEAR BUDGET VARIANCE
Earned Actual Actual Budget Amount % Amount
Q1
$ 678,358
$ 698,773
$ 615,337
$
20,415
3% $
83,436
14%
Q2
666,716
679,484
604,777
12,768
2%
74,707
12%
Q3
678,302
677,923
615,286
(379)
0%
62,637
10%
Q4
698,517
743,365
633,623
44,848
6%
109,742
17%
Totals
$ 2,721,893
$ 2,799,545
$ 2,469,024
$
77,651
3%
330,521
13%
Gambling taxes for 4th quarter,2015 are 3% higher than as compared with 2014 and are $109K
or 17% over 2015 budget. Casinos within the City continue to do well.
Schedule V shows monthly admissions tax receipts for the prior year and current year to date.
Schedule V -Admissions Tax (b)
(c) 2015 INCREASE (DECREASE)
Quarter 2014 2015 Prorated YEAR OVER YEAR BUDGET VARIANCE
Earned Actual Actual Budget Amount % Amount
Q1
$ 135,045 $
129,245 $
160,000
$
(5,800)
4% $
(30,755)
-19%
Q2
149,487
171,745
160,000
22,258
15%
11,745
7%
Q3
135,919
159,808
160,000
23,889
18%
(192)
0%
Q4
139,163
166,452
160,000
27,289
20%
6,452
4%
Totals
$ 559,614 $
627,250 $
640,000
$
67,636
12% $
(12,750)
-2%
There is an increase of 20% in admissions tax receipts during fourth quarter as compared to the
same period in 2014. Fourth quarter collections are 4% higher than anticipated. Total year to
date receipts for 2015 reflect a decrease of $12,750 compared to the budgeted amount.
(a) Gambling tax currently includes card games, punch boards, pull tabs, and amusement games.
(b) Excludes golf course admissions tax.
(_) Actuals reflected in Schedules IV and V are amounts eamedthrough second quarter 2015.
W: \FIN Projects \Sales Tax Information\2015 \Info Memo Sales Tax- 2015 -Q4 2015MEMO (Apr 2016).docx
35
36
NAICS
236
237
238
SALES TAX SUMMARY
4th Quarter 2015 (Received in March 2015 - February 2016)
CONSTRUCTION
Construction of Buildings
Heavy & Civil Construction
Specialty Trade Contractors
TOTAL CONSTRUCTION
14 TOTAL 14 YTD 15 YTD
415,349 415,349 816,608
55,116 55,116 83,868
348,328 348,328 354,346
818,793 $ 818,793 $ 1,254,822
$436,029
Overall Construction Change from Previous Year
MANUFACTURING
311 Food Manufacturing
312 Beverage & Tobacco Products
313 Textile Mills
314 Textile Product Mills
315 Apparel Manufacturing
316 Leather & Allied Products
321 Wood Product Manufacturing
322 Paper Manufacturing
323 Printing & Related Support
324 Petroleum & Coal Products
325 Chemical Manufacturing
326 Plastic & Rubber Products
327 Nonmetallic Mineral Products
331 Primary Metal Manufacturing
332 Fabricated Metal Mfg Products
333 Machinery Manufacturing
334 Computer & Electronic Products
335 Electric Equipment, Appliances
336 Transportation Equipment Mfg
337 Furniture & Related Products
339 Miscellaneous Manufacturing
TOTAL MANUFACTURING
14 TOTAL
7,356
5,848
651
11,515
392
1
2,224
23,964
25,507
20
7,631
3,999
4,645
3,414
5,649
7,571
3,609
2,844
171,683
12,627
19,464
320,613 $
Overall Manufacturing Change from Previous Year
TRANSPORTATION & WAREHOUSING
481 Air Transportation
482 Rail Transportation
484 Truck Transportation
485 Transit and Ground Passengers
487 Scenic and Sightseeing Tran
488 Transportation Support
491 Postal Services
492 Couriers & Messengers
493 Warehousing & Storage
TOTAL TRANSP & WHSING
14 TOTAL
14 YTD
7,356
5,848
651
11,515
392
1
2,224
23,964
25,507
20
7,631
3,999
4,645
3,414
5,649
7,571
3,609
2,844
171,683
12,627
19,464
320,613 $
7
1,162
1,647
740
1,044
46,626
597
293
786
52,903 $
Overall Transportation Change from Previous Year
WHOLESALE TRADE 14 TOTAL
423 Whls Trade - Durable Goods 1,447,024
424 Whls Trade - Nondurable Goods 146,480
425 Wholesale Electronic Markets 2,934
WHOLESALE TRADE TOTAL $ 1,596,438 $
Overall Wholesale Change from Previous Year
14 YTD
7
1,162
1,647
740
1,044
46,626
597
293
786
52,903 $
15 YTD
7,984
6,892
206
12,439
752
44
2,201
22,787
30,567
16
9,219
3,774
3,227
2,115
4,351
12,458
6,661
4,678
129,312
7,372
14,924
281,979
($38,634)
YTD
% Diff
96.6%
52.2%
1.7%
NAICS AUTOMOTIVE
441 Motor Vehicle & Parts Dealer
447 Gasoline Stations
TOTAL AUTOMOTIVE $
Overall Automotive Change fro
53.3%
NAICS
YTD 442
% Diff 443
8.5% 444
17.9% 445
-68.3% 446
8.0% 448
91.8% 451
7106.6% 452
-1.0% 453
-4.9% 454
19.8%
-18.0%
20.8%
-5.6%
-30.5%
-38.0% 51X
-23.0% 52X
64.5% 53X
84.5% 541
64.5% 551
-24.7% 56X
-41.6% 611
-23.3% 62X
71X
-12.1% 72X
81X
YTD 92X
15 YTD % Diff
0 0.0%
716 -38.4%
2,623 59.2%
1,520 105.3%
1,381 0.0%
46,393 -0.5%
4,055 0.0%
978 234.3%
1,251 59.1%
58,918
$6,015 11.4%
YTD
14 YTD 15 YTD % Diff
1,447,024 1,856,417 28.3%
146,480 158,274 8.1%
2,934 2,975 1.4%
1,596,438 $ 2,017,666
$421,228 26.4%
RETAIL TRADE
Furniture & Home Furnishings
Electronics & Appliances
Building Material & Garden
Food & Beverage Stores
Health & Personal Care
Clothing & Accessories
Sporting Goods, Hobby, Books
General Merchandise Stores
Miscellaneous Store Retailers
Nonstore Retailers
TOTAL RETAIL TRADE $
14 TOTAL
675,796
88,507
764,303 $
m Previous Year
14 TOTAL
449,665
982,899
600,553
224,707
256,077
2,013,040
581,195
2,137, 244
744,802
184,477
8,174,659 $
Overall General Retail Change from Previous Year
SERVICES
000
111 -115
211 -221
999
Information
Finance & Insurance
Real Estate, Rental, Leasing
Professional, Scientific, Tech
Company Management
Admin, Supp, Remed Svcs
Educational Services
Health Care Social Assistance
Arts & Entertainment
Accommodation & Food Svcs
Other Services
Public Administration
TOTAL SERVICES
14 TOTAL
652,905
79,451
477,729
369,819
$ - $
126,608
49,998
137,974
145,867
2,152, 981
238,486
65,277
$ 4,497,094 $
Overall Services Change from Previous Year
MISCELLANEOUS
Unknown
Agriculture, Forestry, Fishing
Mining & Utilities
Unclassifiable Establishments
MISCELLANEOUS TOTAL
14 TOTAL
49,474
326
567
72,257
$ 122,624 $
14 YTD
675,796
88,507
764,303 $
14 YTD
449,665
982,899
600,553
224,707
256,077
2,013,040
581,195
2,137, 244
744,802
184,477
8,174,659 $
YTD
15 YTD % Diff
736,246 8.9%
88,948 0.5%
825,194
$60,890 8.0%
15 YTD % Diff
435,187 -3.2%
1,051,229 7.0%
683,037 13.7%
222,022 -1.2%
293,982 14.8%
2,157,481 7.2%
606,497 4.4%
2,206,290 3.2%
655,646 -12.0%
218,157 18.3%
8,529,529
$354,870 4.3%
YTD
14 YTD 15 YTD % Diff
652,905 821,543 25.8%
79,451 119,915 50.9%
477,729 582,222 21.9%
369,819 462,471 25.1%
33,368 0.0%
126,608 122,785 -3.0%
49,998 23,429 -53.1%
137,974 334,671 142.6%
145,867 241,556 65.6%
2,152,981 2,212,487 2.8%
238,486 366,160 53.5%
65,277 71,122 9.0%
4,497,094 $ 5,391,728
$894,634 19.9%
Overall Miscellaneous Change from Previous Year
14 TOTAL
14 YTD
49,474
326
567
72,257
122,624 $
14 YTD
YTD
15 YTD % Diff
15,636 -68.4%
314 -3.7%
791 39.4%
287,238 297.5%
303,980
$181,355 147.9%
YTD
15 YTD % Diff
GRAND TOTALS $16,347,426 $16,347,426
Grand Total Change from Previous Year
Grand Total Change from Previous Year - Without New Construction
$18,663,814
$2,316,388 14.17%
$1,880,359 12.11%
3/30/2016 TUK Sales Tax Rpt Q4- 2015.xls
W.,
City of Tukwila
Allan Ekberg, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Ekberg
Finance & Safety Committee
FROM: Peggy McCarthy, Finance Director
DATE: March 30, 2016
SUBJECT: Proposed 2017 -2018 Biennial Budget Schedule
ISSUE
Discuss the process and timeline for review and adoption of the 2017 -2018 Biennial Budget and Capital
Improvement Plan.
BACKGROUND
The proposed plan incorporates three phases for budget development, review and approval. Review will
be conducted within the Council Committees and by the full Council through workshops and the Committee
of the Whole Council meetings. The three proposed budget phases are:
1. Enterprise Funds, operating budget and capital improvement program --
a. F401 Water
b. F402 Sewer
c. F412 Surface Water
d. F411 Golf course
2. Capital Project Funds, operating budget and capital improvement program —
a. F103 Residential Street
b. F104 Arterial Street
c. F312 new Facilities Fund
d. F302 Urban Renewal (rename existing Facilities Fund)
e. F303 General Government
f. F301 Land & Park Acquisition and Development
3. General Fund, Internal Service Funds, Other Funds, Financial Planning Model Attachment
a. General fund revenue
b. General fund departmental expenditures
c. Internal Service Funds —
i. F501 Fleet,
ii. F502 Healthcare
iii. F503 Employees, Healthcare Retirees
d. Other Funds —
i. F101 Hotel /Motel Tax
ii. F105 Contingency
iii. F109 Drug Seizure
iv. F611 Fireman Pension
e. Financial Planning Model Attachment A
DISCUSSION
A timeline for review and approval of the three budgeting phases is attached to this memorandum.
Additionally, at least in the preliminary stages, the budget will reflect the Facilities Plan as having been
adopted and the bonds as having been approved by voters.
RECOMMENDATION
Information only.
ATTACHMENT
2017 -2018 Proposed Biennial Budget Schedule
W
.e
2017 -2018 Proposed Biennial Budget Schedule - as of 4 -5 -16
Budget Process By Month Council Committees Full Council
Finance Trans- CAP Utilities WorkalNn��
& Safety portation -shop ���,ll��i,�i •
41
MARCH
Priorities
Joint Council /Staff Workshop
X
discussion
APRIL
Budget
Review and approve
X
schedule
Outreach
Staff Citywide
Priorities
Review and approve
X
MAY
Priorities
Review and approve
Financial
2015 Annual Citywide
Reporting
2016 1 st Quarter Citywide
Financial
2016 1 st Quarter — Police &
X
Reporting
Fire
Outreach
Community
JUNE
Enterprise
Review operating budgets and
Golf
Water
Funds
capital improvement plans
Sewer
Surf Wtr
JULY
Enterprise
Approve operating budgets
Funds
and capital improvement plans
Capital
Review operating budget and
Gen Govt,
Resid'l Str
Park &
Project
capital improvement plans
Facilities,
Arterial Str
Land
Funds
Urban
Renewal
Acq
AUGUST
Capital
Review operating budgets and
Project
capital improvement plans
X
Funds
Financial
2016 2nd Quarter— Police &
X
Reporting
Fire
Financial
2016 2nd Quarter Citywide
Reporting
SEPTEMBER
Proposed
Mayor's proposed 2017 -2018
Budget
Biennial Budget presented
General
Review of department budgets
Fund &
and other budget elements
X
X
X
X
Other
OCTOBER
General
Review of department budgets
Fund &
and other budget elements
X
X
X
X
X
Other
NOVEMBER
Financial
2016 3rd Quarter — Police &
X
Reporting
Fire
Financial
2016 3rd Quarter Citywide
Reporting
Biennial
Adoption of 2017 -2018
Budget
Biennial Budget
Capital
Adoption of Financial Planning
Improve-
Model and Capital
ment Plan
Improvement Plan
41