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HomeMy WebLinkAboutFIN 2018-05-22 Item 2C - Public Safety Plan - Preliminary 6-Year Forecast - Whitebirch (Item Added After Agenda Production)City of Tukwila Allan Ekberg, Mayor INFORMATIONAL MEMORANDUM TO: Finance Committee FROM: Peggy McCarthy, Finance Director BY: Rachel Bianchi, Communications and Government Relations Manager; Vicky Carlsen, Deputy Finance Director; Laura Crandall, Finance staff CC: Mayor Ekberg DATE: May 16, 2018 SUBJECT: Preliminary Six -Year Financial Forecast ISSUE The Finance Department is implementing the financial modeling tool Whitebirch to build the City's six-year financial plan with greater predictive accuracy, monitor for structural deficits in the General Fund, and model scenarios. The proposed alternative to filling the Public Safety Plan gap is separate from this forecast. Typically, the six-year financial forecast (previously known as Attachment A) is developed in the summer of a budget cycle to inform the budget process. At that time, the City is able to track additional trends — such as sales tax growth — in order to inform the forecast. As it is relatively early in the year, the current forecast should be viewed as preliminary and will be updated as the City initiates the biennial budget process. BACKGROUND In keeping with the City's financial policies, the Finance Department builds a six-year financial plan as a part of the budget process. The projections in the plan have historically shown a decrease in the fund balance in the third biennium. The City takes action based on projections and on actual conditions to avoid the predicted negative outcomes through course corrections. The table below shows that historically, the City's actual revenues come in above its projections. Table 1. Comparison of Ending Fund Balance Projections to Actuals from Attachment A INFORMATIONAL MEMO Page 2 History of Six -Year Plan Forecasts vs. Actuals, 2012-2016 $25,000 m o $20,000 $15,000 $10,000 $5,000 $- Actuals: 2012- 2016 sem` 2015-2016 2011-2012 2013-20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Table 1 shows projections made in the six-year plan; the three grey lines on the graph are from the 2011-12, 2013-14, and 2016-16 budgets. The blue line on the graph represents the actuals. As you can see, in all years but one (2012), actuals performed above projections made in each published budget. PRELIMINARY RESULTS OF THE SIX-YEAR FINANCIAL FORECAST The following 2018 assumptions inform the six-year financial forecast: • Sales tax was reduced from the budgeted amount of $19.9M to $18.8M due to the flattening of sales tax. • Building permits were increased from the budgeted amount of $895,000 to $1 M due to increased activity associated with the School District bond program. • Expenditures have been reduced by 3% to account for flattening sales tax. • The adopted General Fund budget $6.05M in one-time funds, largely from land sales; this forecast reduced that amount to $3.8M because proceeds of the motel properties were moved to an out year. • Debt service is fully funded. The net result is that 2018 is balanced and meets our financial policies. The following are the preliminary projections based on the first draft of the 2019-2024 Six -Year Financial Projection Model: • Ongoing revenues will not match up to ongoing expense due to: o Sales Tax: • Assumes a 3% growth in 2019 to 2024 based on a lower beginning base in 2018. • Internet sales tax is relatively new; we do not have enough information at this time to know what the effect on sales tax growth. ■ Sales tax mitigation funding will end in 2019, resulting in a loss of $300,000 in 2019 and $1.2M in 2020. o Capital: • The adopted General Fund contribution to fund new capital projects draws down the fund balance. The following are the General Fund contributions in this preliminary six-year plan: C:1Users\Peggy-M\City of Tukwila\Finance - PublicSafetyPlan\FinancingPlan\Draft 6yr memo (003).doc INFORMATIONAL MEMO Page 3 • 2019: $900,000 • 2020: $3.04M • 2021: $3.696M • 2022: $2.830 • 2023: $2.265 • 2024: $2.265 • Across all revenue streams, ongoing revenue is expected to grow at 2%, on average. • 2019 expenditures assume existing service levels, ongoing expenses are expected grow at 2.5 to 3.5% per year. • To replace the loss of sales tax due to flattening and the elimination of sales tax mitigation funding, the Administration anticipates it will propose new revenue as a part of the 2019- 2020 budget process in order to maintain existing service levels. This preliminary six- year plan includes the 3% underspend in 2018 and a new revenue source from 2019 moving forward, which is reflected in the "Unallocated Budget Adjustment" line in the preliminary six-year forecast. General Fund Budget Projections - Tukwila - 2018 - 2024 2018 2019 2020 2021 2022 2023 2024 Budget Projected Projected Projected Projected Projected Projected Revenues a General Fund Revenues B TAXES !SALES TAX 19,475,000 20,059,250 20,661,028 21,260,858 21,919,204 22,576,863 23,254,168 * PROPE RTY TAX 15,279,302 15,584,888 15,896,586 16,214,518 16, 538,808 16,869,584 17,206,976 tBUSINESS TAX 11,229,927 11,521.339 11,818.769 12,145,985 12,479,787 12,802,514 13,132,498 Total TAXES 45,984.229 47,165.477 48,376,382 49,641,360 50,937.879 52,248,960 53,593,642 Licenses & Permits 4,409,090 4,384,760 4,453,059 4,530,979 4,593,484 4,656.958 4,721,418 • CHARGES FOR SERVICES 3,275,080 3,319,185 3,379,544 3,452,699 3,508,963 3,563,516 3,610,393 • INTERGOVERNMENTAL REVENUE 4,418.875 4,149.,227 3,333,627 3,360.,721 3,387,685 3,403,779 3,431,274 =TRANSFERS 2,325,643 2,372,156 2,419,599 2,467,991 4,793,351 2,567,698 2,619,052 = OTHER INCOME 587,194 599,583 606,380 618,698 629,579 644,462 655,790 • Fines & Penalties 244.129 246,570 247,803 252,759 254,023 256,563 257,846 Totai General Fund Revenues 61,244,240 62,236,978 62,816,394 64,325,207 68,104,964 67,341.937 68,889.415 Expenses Q General Fund Expenditures a,Salanes & Benefits 42,943,051 44,057,855 45,224,861 46,754,256 48,355,189 50,031,977 51,789,287 i OPERATI ONS 16, 051,952 16,199,599 16,140,253 16,504,666 16,412,203 16,803,217 16,915,861 S TRANSFERS ITR4NSFER OUT 1+DEBT SERVICE 3,598,580 3,259,886 2,441,339 2,441,144 4,729,188 2,271,396 1,724,579 *Other 369,041 355,000 355,000 355,000 355,000 355,000 300,000 Total TRANSFER Ot1T 3 967 621 3 614,886 2 796 339 2 796 144 5 084 188 2 626,396 2 024,579 Total TRANSFERS 3,967,621 3,614,886 2,796,339 2,796,144 5,084,188 2,626,396 2,024,579 t&Unallocated Budget Adjustment EOM (1 770,750) (2.250.000) (2 250.000) (2 250,000) (2 250,000) (2 500,000) (2 500,000) Total General Fund Expenditures 61,191,884 61,632,351 61,911,453 63,805,076 67,601,580 66,961,591 68,229,727 Operating Results Net Operating Result 52,356 604,628 904,942 520,131 503,384 380,346 659.688 leCapdal Mows 3,800,000 0 0 0 0 0 0 J'CapJftat'Oui ows r TR4NSFERS r8TRANSFER OUT -fi Captei 000.20.597.301.00 - TRANSFEI 122,000 0 0 0 0 0 0 000.20.597.303.00 - TRANSFEI 200,000 300,000 300,000 300,000 300,000 300,000 300,000 000.20.597.104.00-TRANSFEI 2,460,000 500,000 2,279,000 2,931,000 2,065,000 1,500,000 1,500,000 000.20.597.103.00 - TRANSFEI 0 100,000 465,000 465,000 465,000 465,000 465,000 TstalCapital 2,782,000 900,000 3,044,000 3.696,000 2830,000 2,265,000 2265,000 Tota.+TRANSFER GUT 2.782,000 900,000 3 044,000 3.696.000 2.830,000 2,265,000 2265,000 Total TRANSFERS 2.782.000 900,000 3,044,000 3.696 0G0 2,830,000 2,265,000 2,265,000 al CAPITAL 30,000 0 0 0 0 0 0 Total Capital Outflows 2,812,000 900,000 3,044,000 3,696,000 2,830,000 2,265,000 2.265,000 Funcl Balance Starting Fund Balance 12,795,650 13,836,006 13,540,634 11,401,576 8,225,707 5,899,090 4,014,437 SurplustDeficit 1,040,356 1295.372) (2,139.058) (3,175,869) (2.326.616) (1.884.654) (1,605.312) Ending Fund Balance 13,836,006 13,540,634 11,401,576 8,225,707 5.899.090 4,014.437 2,409,124 C:1Users\Peggy-M\City of Tukwila\Finance - PublicSafetyPlan\FinancingPlan\Draft 6yr memo (003).doc INFORMATIONAL MEMO Page 4 The above chart provides the highlights of the preliminary six-year plan for the general fund. Whitebirch provides us the opportunity to drill down into different levels in an interactive fashion, and staff intends to expand the detail of each line at the Finance Committee meeting on May 22, 2018. ATTACHMENTS Preliminary Six -Year Plan — General Fund Previous Years Six -Year Plans (Attachment A) C:1Users\Peggy-M\City of Tukwila\Finance - PublicSafetyPlan\FinancingPlan\Draft 6yr memo (003).doc 2011-2012 Biennial Budget City of Tukwila, Washington ATTACHMENT A CITY OF TUKWILA TOTAL REVENUES & EXPENDITURES 2011 - 2016 Analysis in 000's REVENUES (see A-1) 2011 2012 2013 2014 2015 2016 Totals General Revenues Sales Tax $ 15,400 $ 15,631 $ 15,865 $ 16,103 $ 16,587 $ 17,084 $ 96,670 Property Taxes 12,800 13,120 13,448 13,784 14,129 14,482 81,763 Utility Taxes 4,500 4,635 4,774 4,917 5,065 5,217 29,108 New Revenues/RGRL 3,000 3,075 3,152 3,231 3,311 3,394 19,163 Other Revenue Incr/Exp Red 900 923 946 969 993 1,019 5,750 One-time sale of property 2,000- - - - - 2,000 lntertund Utility'1'axes 1,349 1,431 1,559 1,651 1,770 1,862 9,622 Gambling Taxes 1,977 2,036 2,097 2,160 2,225 2,292 12,787 Contract Agreement - SCL 1,976 2,035 2,096 2,159 2,224 2,291 12,781 Charges/Fees for Services 5,431 5,594 5,762 5,935 6,113 6,296 35,131 Transfers In - Other Funds 1,875 1,931 1,989 2,049 2,110 2,174 12,128 Intergovernmental Revenue 922 950 978 1,007 1,038 1,069 5,964 Other Taxes/Miscellaneous 1,640 1,689 1,740 1,792 1,846 1,901 10,608 Subtotal 53,770 53,050 54,406 55,757 57,411 59,081 333,475 Dedicated Revenues (Capital) Real Estate Taxes 250 258 265 273 281 290 1,617 Motor Vehicle Taxes 455 469 483 498 512 527 2,944 Investment Interest/Misc. 100 103 106 109 113 116 647 Property Taxes 130 130 130 130 130 130 780 Parking Taxes 140 140 140 140 140 140 840 Transfers from Golf Course 0 0 150 150 175 175 650 Subtotal 1,075 1,100 1,274 1,300 1,351 1,378 7,478 TOTAL REVENUE AVAILABLE 54,845 54,150 55,680 57,057 58,762 60,459 340,953 EXPENDITURES Operations & Maintenance: 44,301 44,901 47,001 49,197 51,494 53,898 290,792 (See Attachment B) Debt Service 3,455 3,447 3,532 3,593 3,104 2,874 20,005 Transfer to Reserve Fund 1,256 2,573 3,958 5,406 - - 13,193 Estimated Unfunded PERS 772 803 835 868 903 939 5,120 Admin/Engineering Overhead 300 309 318 328 338 348 1,941 Subtotal Available 4,761 2,117 36 (2,335) 2,923 2,400 9,902 Capital - Attachment C Residential Streets 150 300 - 200 300 3,000 3,950 Arterial Streets/Bridges 2,181 2,837 2,522 2,390 2,865 1,945 14,740 Parks & Trails 433 459 438 267 217 21 1,835 General Government Facilities 101- - - - - 101 General Imp/HHD Response 2,200 800 500 500 500 500 5,000 Fire Improvements (50) (50) - - - (55) (155) Subtotal Capital 5,015 4,346 3,460 3,357 3,882 5,411 25,471 Balance by Year (254) (2,229) (3,424) (5,692) (959) (3,011) (15,569) Carryover from 2010 20,109 - - - - - 20,109 Accumulated Totals $ 19,855 $ 17,626 $ 14,202 $ 8,510 $ 7,551 $ 4,540 Page 32 2013-2014 Biennial Budget City of Tukwila, Washington 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 ATTACHMENT A CITY OF TUKWILA TOTAL REVENUES & EXPENDITURES 2013 - 2018 Analysis in 000's (a) The 2013 debt service includes $2.6M to payoff the outstanding golf course bonds in December 2013. (b) The change in fund balance for 2013 and 2014 includes a payment to the Reserve / Contingency lurid of $1.5M and $2.2M respectively. (c) Represents the ending fund balance of the Reserve / Contingency Fund 105. Page 44 BUDGET PROJECTIONS Totals 2013-2018 REVENUES (see A-1) 2013 Budget 2014 Budget 2015 2016 Estimate Estimate 2017 2018 Estimate Estimate General Revenues Sales Tax $ 16,464 $ 16,879 $ 17,114 $ 17,592 $ 18,083 $ 18,590 $104,722 Property Taxes 13,814 14,321 14,679 15,046 15,422 15,808 89,090 Utility Taxes 4,288 4,357 4,488 4,622 4,761 4,904 27,420 RGRL 1,750 1,768 1,812 1,858 1,904 1,952 11,043 One-time revenue 8,500 4,355 3,500 2,000 18,355 Interfund Utility Taxes 1,486 1,585 1,664 1,747 1,835 1,927 10,244 Gambling Taxes 2,097 2,207 2,229 2,251 2,274 2,297 13,355 Contract Agreement - SCL 2,206 2,250 2,318 2,387 2,459 2,532 14,152 Charges/Fees for Services 3,836 3,902 4,019 4,140 4,264 4,392 24,552 Transfers In - Other Funds 2,036 2,085 2,148 2,212 2,278 2,347 13,106 Intergovernmental Revenue 1,439 1,062 1,083 1,105 1,127 1,150 6,966 Other Taxes/Miscellaneous 1,599 1,644 1,693 1,744 1,796 1,850 10,327 Subtotal 59,515 56,415 56,747 56,704 56,203 57,747 343,331 Dedicated Revenues (Capital) 260 260 268 276 284 293 1,640 Real Estate Excise Taxes Motor Vehicle Taxes 374 377 388 400 412 424 2,376 Property tax -Greenbelt levy 34 0 0 0 0 0 34 Parking Taxes 151 151 156 160 165 170 953 Revenues above Included in CIP (744) (747) (486) (759) (781) (790) (4,307) 75 41 326 77 80 97 696 Investment Income/Misc (Capital) 21 9 9 9 9 10 67 Subtotal 96 50 334 86 89 107 762 TOTAL REVENUE AVAILABLE 59,611 56,465 57,082 56,790 56,293 57,853 344,094 EXPENDITURES Operations & Maintenance: 48,142 48,924 50,722 51,990 53,290 54,622 307,690 (See Attachment 13) Transfers: Operating 475 675 323 329 316 283 2,400 Transfers: Reserve Fund 1,500 2,200 3 119 146 150 4,118 Debt Service (a) 5,964 3,026 2,859 2,632 2,634 2,628 19,744 Admin/Engineering overhead 414 429 440 451 463 474 2,672 Subtotal Available 3,115 1,210 2,734 1,269 (555) (303) 7,470 Capital Projects - Attachment C Residential Streets 289 (10) 2,380 500 500 500 4,159 Arterial Streets/Bridges 4,168 1,785 2,542 1,359 1,431 1,515 12,800 Parks & Trails 17 (33) 17 (98) (103) (99) (299) Facilities 580 0 0 0 0 0 580 General Improvements 478 200 200 200 200 200 1,478 Fire Improvements (50) (50) (50) (50) (50) (50) (300) Subtotal Capital 5,482 1,892 5,089 1,911 1,978 2,066 18,418 Change in fund balance (b) (2,367) (682) (2,355) (642) (2,533) (2,369) (10,948) Beginning fund balances 11,289 8,922 8,240 5,885 5,243 2,710 11,289 Ending fund balances $ 8,922 $ 8,240 $ 5,885 $ 5,243 $ 2,710 $ 341 $ 341 Reserve fund balance (c) $ 3,000 $ 5,203 $ 5,206 $ 5,325 $ 5,470 $ 5,620 $ 5,620 (a) The 2013 debt service includes $2.6M to payoff the outstanding golf course bonds in December 2013. (b) The change in fund balance for 2013 and 2014 includes a payment to the Reserve / Contingency lurid of $1.5M and $2.2M respectively. (c) Represents the ending fund balance of the Reserve / Contingency Fund 105. Page 44 2015 - 2016 Biennial Budget City of Tukwila, Washingon 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 34 CITY OF TUKWILA ATTACHMENT A - REVENUES AND EXPENDITURES GOVERNMENTAL FUNDS 2015-2020 Analysis in 000's REVENUES ACTUAL ADOPTED BUDGET PROPOSED BUDGET PROJECTIONS TOTAL 2015-2020 2012 2013 2014 2015 2016 2017 2018 2019 2020 General Revenues Sales and Use Taxes $15,674 $16,521 $ 15,680 $ 17,034 $17,631 $18,160 $18,705 $19,266 $19,844 $ 110,642 Property Taxes 13,830 13,757 14,322 14,329 14,759 15,128 15,506 15,894 16,291 91,908 Utility Taxes 4,001 3,880 4,155 4,025 4,105 4,187 4,292 4,421 4,553 25,583 Interfund Utility Tax 1,535 1,687 1,586 1,856 1,981 2,080 2,184 2,293 2,408 12,802 Gambling and Other Taxes 3,045 3,047 2,819 3,238 3,317 3,416 3,519 3,624 3,733 20,847 RGRL 1,756 1,725 1,768 1,821 1,875 1,922 1,970 2,019 2,070 11,677 Licenses & Permits 1,605 2,014 1,946 2,105 2,166 2,232 2,301 2,374 2,449 13,626 SCL Agreement 2,147 2,084 2,250 2,212 2,267 2,335 2,405 2,477 2,552 14,249 Intergovernmental 2,663 2,620 2,379 2,503 2,585 2,614 2,643 2,673 2,704 15,721 Charges for Services 2,442 2,785 3,064 2,955 2,991 3,081 3,173 3,269 3,367 18,836 Indirect Cost Allocation 1,872 2,036 2,085 2,255 2,233 2,289 2,358 2,429 2,502 14,066 One -Time Revenue - 9,500 4,355 2,400 3,675 6,075 Sub -Total 50,569 61,655 56,408 56,732 59,586 57,445 59,056 60,739 62,472 356,031 Dedicated Revenues 1,332 955 797 967 980 1,010 1,040 1,067 1,099 6,162 TOTAL REVENUES 51,901 62,609 57,204 57,699 60,566 58,455 60,096 61,806 63,571 362,193 EXPENDITURES Operating & Maintenance (see Attachment B) 44,636 47,321 49,119 51,569 52,609 53,924 55,272 56,654 58,071 328,100 Debt Service 3,075 6,023 3,026 2,760 3,303 3,507 3,499 3,493 2,669 19,231 Reserve Fund - 4,225 2,200 - - 41 161 168 370 Operating Transfers 982 1,734 675 300 300 308 315 323 331 1,877 Adm/Engineering 641 602 419 545 567 581 596 610 626 3,525 Subtotal Available 2,566 2,704 1,765 2,525 3,787 135 373 564 1,706 9,091 Capital Projects Residential Street 108 115 660 1,614 141 413 750 750 750 4,418 Arterial Street 7,475 1,062 3,318 2,022 3,411 2,118 2,883 2,263 2,273 14,970 Land & Park Acquisition 696 47 647 983 182 172 166 321 162 1,986 Governmental Facilities 23 104 10 (70) 90 - - - - 20 General Government812 280 200 200 200 200 200 200 200 1,200 Fire Improvements * (34) (89) (45) (50) (50) (550) (350) (350) (350) (1,700) Sub -Total Capital I 9,113 1,608 4,835 4,749 4,024 2,903 3,999 3,534 3,385 22,594 Change in Fund Balance (6,547) 1,096 (3,070) (2,224) (237) (2,768) (3,626) (2,970) (1,679) (13,503) Beginning Fund Balance* 21,125 14,578 14,715 14,905 12,681 12,444 9,676 6,050 3,080 14,905 Ending Fund Balance * $14,578 $15,674 $ 11,646 $ 12,681 $12,444 $ 9,676 $ 6,050 $ 3,080 $ 1,402 $ 1,402 Reserve Fund Balance $ 1,460 $ 5,763 $ 5,279 $ 5,702 $ 5,704 $ 5,704 $ 5,745 $ 5,906 $ 6,074 $ 6,074 TOTAL FUND BALANCE $16,038 $ 21,437 $ 16,924 $ 18,383 $18,148 $15,380 $11,795 $ 8,986 $ 7,476 $ 7,476 General fund reserve policy met? Contingency reserve policy met? YES YES YES YES *For information only. Fire Improvement amounts are not included in the totals. Sales and Use Taxes - includes retail sales and use tax, natural gas use tax and criminal justice sales tax Gambling and other taxes - includes gambling tax, admission tax and leasehold excise tax Licenses & permits - includes business licenses, residential rental licenses, building and other permits Intergovernmental - includes streamlined sales tax mitigation, grants, state shared revenues and entitlements Dedicated Revenues (Capital) - includes REET, parking tax, motor vehicle tax, investment income earned in the capital funds Village land sale and $200K surplus property sale; 2016 $2.07M Tukwila Village land sale and $1.6M sale of utility storage land. NO YES 49 2017 - 2018 Biennial Budget City of Tukwila, Washington 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 38 39 40 41 42 43 44 45 46 47 ATTACHMENT A - REVENUES AND EXPENDITURES GOVERNMENTAL FUNDS 2017-2022 Analysis in 000's 47 ACTUAL 2014 2015 ESTIMATE 2016 ADOPTED BUDGET 2016 PROPOSED BUDGET 2017 2018 2019 PROJECTIONS 2020 2021 2022 Total 2017-2012 General Revenue: Property Taxes $ 14,187 $ 14,323 $ 14,749 $ 14,759 $ 14,907 $ 15,279 $ 15,738 $ 16,210 $ 16,696 $ 17,197 $ 96,027 Sales and Use Taxes 17,105 19,334 19,364 18,631 20,027 20,607 21,225 21,862 22,518 23,193 129,432 RGRL Tax 1,796 1,859 1,830 1,875 1,900 1,957 2,016 2,076 2,138 2,203 12,290 Admissions Tax 617 688 757 716 760 774 797 821 846 871 4,869 Utility Taxes 3,856 4,019 4,131 4,105 4,118 4,206 4,332 4,462 4,595 4,733 26,446 Interfund Utility Tax 1,851 2,061 2,065 1,981 2,161 2,205 2,271 2,339 2,409 2,482 13,868 Gambling/Excise Taxes 2,808 2,908 3,090 2,601 3,931 4,045 4,167 4,292 4,421 4,553 25,409 Total Taxes 42,219 45,192 45,987 44,668 47,804 49,073 50,546 52,062 53,624 55,232 308,341 Licenses & Permits 2,064 2,206 2,265 2,140 2,279 2,347 2,418 2,490 2,565 2,642 14,740 Intergovernmental 4,659 4,223 4,694 4,420 4,399 4,296 4,424 4,557 4,694 4,835 27,204 Charges for services/other 3,928 4,056 4,337 3,875 4,105 4,144 4,269 4,397 4,529 4,664 26,108 Indirect Cost Allocation 2,089 2,255 2,233 2,233 2,279 2,326 2,395 2,467 2,541 2,618 14,626 Total Ongoing Revenue 54,959 57,932 59,517 57,337 60,866 62,186 64,051 65,973 67,952 69,991 391,019 Tukwila Village land sale - 500 - 2,075 1,800 2,775 4,575 Motel Property Sale - - - - - 2,250 2,250 Fire station/Shops property sales 250 1,000 5,000 6,250 Other 1,000 350 - - 775 775 Total One -Time Revenue 1,000 850 - 2,075 1,800 6,050 1,000 5,000 -- 13,850 Total General Revenue 55,959 58,782 59,517 59,412 62,666 68,236 65,051 70,973 67,952 69,991 404,869 Dedicated Revenue: REET 705 2,413 800 404 800 800 824 849 874 900 5,047 Parking Tax 144 193 214 161 200 206 212 219 225 232 1,294 Fuel Tax 395 407 416 403 408 415 427 440 453 467 2,611 Investment earnings 8 14 16 12 12 12 12 12 13 13 74 Other 64 254 120 80 62 80 83 85 88 90 487 Total Dedicated Revenue 1,315 3,282 1,566 1,060 1,482 1,513 1,558 1,605 1,653 1,703 9,513 TOTAL REVENUES 57,274 62,065 61,083 60,472 64,147 69,749 66,610 72,578 69,605 71,693 414,383 Operating Expenditures: Operating & maintenance 48,714 52,000 54,257 55,525 57,402 58,628 60,094 61,597 63,136 64,715 365,572 Debt Service 3,150 2,760 2,650 2,875 2,686 5,849 4,504 4,147 4,140 4,139 25,464 Contingency fund transfer - 127 100 100 216 115 112 165 170 175 953 Operating transfers 600 300 300 300 368 369 369 369 369 369 2,213 Adm/Engineering 745 713 599 436 577 590 605 620 635 651 3,678 Total Expenditures 53,209 55,900 57,907 59,236 61,249 65,551 65,684 66,897 68,451 70,049 397,880 Subtotal Available $ 4,065 $ 6,165 $ 3,176 $ 1,236 $ 2,898 $ 4,198 $ 926 $ 5,681 $ 1,155 $ 1,645 $ 16,502 Capital Projects Residential Street 518 981 403 230 237 277 750 750 750 750 3,514 Arterial Street 2,659 (925) 3,184 3,841 5,866 2,840 3,146 2,779 2,931 2,565 20,127 Land & Park acquisition 243 384 (75) 182 1,008 435 555 355 355 355 3,063 Urban Renewal 967 (269) 748 90 (1,623) 1,775 - - - - 152 General improvements 164 144 205 331 150 150 300 300 300 300 1,500 Public Safety Buildings (9,656) 9,299 (5,082) 1,916 7,264 (4,554) (813) Public Works Shops - (21,041) 21,041 - Total Capital 4,550 315 4,464 4,674 (4,018) (6,265) 20,710 6,100 11,600 (584) 27,543 Change in fund balance (485) 5,850 (1,288) (3,438) 6,916 10,463 (19,784) (419) (10,445) 2,229 (11,041) Beginning Fund Balance 16,367 15,883 21,732 15,181 20,353 27,269 37,732 17,948 17,529 7,083 20,353 Ending Fund Balance $ 15,883 $ 21,732 $ 20,444 $ 11,743 $ 27,269 $ 37,732 $ 17,948 $ 17,529 $ 7,083 $ 9,312 $ 9,312 Reserve Fund Balance $ 5,771 $ 5,587 $ 5,716 $ 5,704 $ 5,952 $ 6,087 $ 6,220 $ 6,406 $ 6,598 $ 6,795 $ 6,795 TOTAL GOVT FUNDS $ 21,654 $ 27,320 $ 26,160 $ 17,447 $ 33,221 $ 43,819 $ 24,167 $ 23,934 $ 13,681 $ 16,107 $ 16,107 47