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AGENDA
Committee of the Whole Meeting
5:30 PM - Monday, October 12, 2015
Council Chambers, 7th Floor, City Hall – 1055 S. Grady Way AGENDA 1. 2015/2016 Mid-biennium Budget Amendment Budget PowerPoint Presentation
REGULAR COUNCIL - 28 Sep 2015
SUBJECT/TITLE: 2015/2016 Mid-biennium Budget Amendment
RECOMMENDED ACTION: Refer to Council Committee of the Whole
DEPARTMENT: Administrative Services Department
STAFF CONTACT: Jamie Thomas, Fiscal Services Director
EXT.: 6929
FISCAL IMPACT: Expenditure Required: $ N/A Transfer Amendment: $ N/A
Amount Budgeted: $ N/A Revenue Generated: $ N/A
Total Project Budget: $ N/A City Share Total Project: $ N/A SUMMARY OF ACTION: In compliance with RCW 35A.34, the proposed 2015/2016 Mid-biennium Amendment will be submitted to the City Council and City Clerk on October 12, 2015. This agenda bill sets the time and place for public hearing on October 26, 2015.
The following Ordinances/Resolutions will be presented as part of the public hearing process:
1. 2016 Property Tax Levy. 2. Mid-biennium budget amendment. 3. Fee schedule (as applicable). EXHIBITS: A. Budget Meeting Calendar STAFF RECOMMENDATION: Set public hearing date of October 26, 2015, to consider the proposed 2016 Property Tax Levy and proposed 2015/2016 Mid-biennium budget amendment, together with any proposed fee adjustments; with the proposed adoption of ordinances/resolutions by November 9, 2015.
AGENDA ITEM # 1.
CITY OF RENTONPRELIMINARY
2015/2016 MID-BIENNIUM BUDGET AMENDMENTCALENDAR
Unless otherwise specified, all meetings will be held at City Hall, 1055 S. Grady Way, Renton, Washington 98057.
October 12, 2015 – Committee of the Whole – 6:00 p.m.Council budget workshop:
Proposed Mid-Biennium Adjustments (ordinance) Proposed Property Tax Levy (ordinance) Proposed Fee adjustments, if applicable (resolution)
October 26, 2015 – Regular Council Meeting – 7:00 p.m. Public hearing:
Proposed 2016 Property Tax Levy Proposed Mid-Biennium Budget Adjustment Proposed Fee Adjustments, if applicable
November 2, 2015 – Committee of the Whole (if needed) – 6:00 p.m.Council budget workshop:
Deliberation Finalize Committee Report
November 2, 2015 – Regular Council Meeting – 7:00 p.m. Committee of the Whole report adoption Ordinances First Reading
November 9, 2015 – Regular Council Meeting – 7:00 p.m. Ordinances Final Reading and Adoption Fee Schedule Resolution Adoption, if applicable
AGENDA ITEM # 1.
10/12/2015
1
MID-BIENNIAL BUDGET ADJUSTMENT OVERVIEW
October 12, 2015
Mid-Biennium Budget Amendment
Update General Fund revenue projections with changed conditions.
Make housekeeping adjustments to incorporate prior Council actions.
Proposed service changes to reflect business activity and Council priorities.
Actions required to reflect the change:
Set property tax levy for 2016.
Adopt budget amendments.
Provide 2‐temporary interfund loans for capital activities.
2
AGENDA ITEM #
10/12/2015
2
Property Tax3
State law allows cities to increase base property tax levy by the lower of inflation (September IPD) or 1%.
Should the IPD falls below 1%, large cities may levy the full 1% if their councils find there is a “substantial need” to do so to preserve city services.
The September IPD published by BEA shows 0.25% year over year increase.
Based on the current and projected funding needs of the City, staff recommends Council to take action to allow the base 2016 property tax increase by 1%.
4%6%
23%
4%3% 3% 3%
‐3%
9%
3%2%
$20.0
$22.0
$24.0
$26.0
$28.0
$30.0
$32.0
$34.0
$36.0
$38.0
$40.0
‐5%
0%
5%
10%
15%
20%
25%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
% Chg Budget Actual/Projected
Preliminary 2016 Property Tax Levy4
Description Amount2015 Base Levy $35,761,7301% Increase 357,6172016 Base Levy $36,119,347% Change from 2015 Base Levy 1.00%
2016 Base Levy $36,119,347New Construction 397,414*Annexaction 1,3222013 Correction, Final Installment 619,061ReLevy Prior Year Refunds 76,928*2016 Total Levy $37,214,0722015 Actual Levy $36,477,5272016 Total Exclude "*" Items/2015 Actual 0.72%* Per RCW 84.55.120 these items are excluded from the % increase calcuation.
AGENDA ITEM #
10/12/2015
3
Sales Tax5
2015 collection is expected to be 7.5% above 2014 and 4% above budget.
Construction sector grew by 27%, followed by auto sales and service sectors at 10% each. General retail and wholesale combined grew by 6% from last year. These growth are offset by decrease in manufacturing and miscellaneous sales.
2016 projection is revised upward based on the higher 2015 estimates plus an overall 4% growth from 2015 level.
18%
9% 8%
‐13%
‐4%‐1%
4%
10%
3%
8%
4%
$0
$5
$10
$15
$20
$25
$30
‐20%
‐15%
‐10%
‐5%
0%
5%
10%
15%
20%
06 07 08 09 10 11 12 13 14 15 16
% Change YOY Budget Actual/Projected
Composition of Sales Tax6
Construction13%
Manu.7%
Retail/ Wholesale
36%
Auto20%
Misc2%
Services22%
2015 Composition
Construction14%
Manu.4%
Retail/ Wholesale
36%
Auto23%
Misc3%
Services20%
Pre-Recession
AGENDA ITEM #
10/12/2015
4
Utility Taxes7
Utility taxes are expected to underperform original budget by 3% in 2015 and 4% in 2016. Downward adjustments are made $552k in 2015 and 702k in 2016.
Reductions are in electric and natural gas utility taxes by $650k/ year due to much milder winters in recent years, and in cellular utility tax due to the service providers separating data charges from voice which allows them to reduce taxable revenues.
These reductions are partially offset by increases in city operated utilities and franchise garbage utility taxes.
12%
6%
10%
19%
‐2%
8%
2%
‐3%
6%
‐5%
0%
$10
$11
$12
$13
$14
$15
$16
$17
‐10%
‐5%
0%
5%
10%
15%
20%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
% Change Budget Actual/Projected
Development Fees8
YTD development service fees have exceeded budget projection by 20% and the same period last year by 22%.
We expect development service fees to exceed budget by $825k in 2015 and $480k in 2016.
The increased level of development activities also required staffing adjustment. The department is proposing to add overall 4 FTEs and upgrade / reclass 4 positions.
4%
27%
‐40%
‐21%
8%
18%22%
16% 16%
22%
‐11%
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
‐50%
‐40%
‐30%
‐20%
‐10%
0%
10%
20%
30%
40%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
% Chg Budget Actual/Projected
AGENDA ITEM #
10/12/2015
5
Real Estate Excise Tax (REET)9
YTD REET collection is approximately the same as last year and 10% above budget.
We anticipate REET collection to end the year $400k above budget in 2015.
REET is restricted for capital purposes and is currently used to fund General Governmental Capital and Debt Service.
38%
2%
‐45%
‐26%
3%
‐24%
43%
13%
81%
‐23%
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
$5.5
$6.0
$6.5
‐60%
‐40%
‐20%
0%
20%
40%
60%
80%
100%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
% Chg Budget Actual/Projected
State Shared Revenues10
After the state reduced various shared revenue distributions over the past 3 years, the revenue is expected to improve in the second half of 2015.
In the 2015-17 budget, the state restored the 50% liquor excise tax ($220k a year); added a minor distribution in marijuana retail taxes; and a slight increase in fuel tax distribution ($150k in 2016).
The budget adjustment will also true-up miscellaneous public safety rants/distributions.
0%
24%
7% 8% 8%9% 10%
‐8%
5%
‐1%
11%
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
‐10%
‐5%
0%
5%
10%
15%
20%
25%
30%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
% Change Budget Actual/Projected
AGENDA ITEM #
10/12/2015
6
Summary of GF Revenue Adjustment11
General Fund Revenue Adjustment 2015 2016
Property Tax ‐$ 260$
Sales Tax 1,140 1,060
Utlity Tax (552) (702)
Gambling Tax 400
REET 400
REET Transfer to CIP (400)
State Shared Revenue 250 620
Misecllaneous Grants 122
Permit fee 825 480
Eliminate Seizure Fund Revenue (and Expenditure) (131) (131)
Interfund Reimbursement for Positions 56
CIP Reimbursement for Positions 251
Total Adjustment ($ in thousands) 2,055$ 1,894$
Summary of GF Expenditure Adjustment12
General Fund Expenditure Adjustment 2015 2016
Summary of Position Adjustments (102)$ 1,478$
Office Equipment for 4 New CED positions ‐ 43
SCORE Contract Adjustment ‐ 203
Valley Comm Contract Adjustment ‐ 74
Eliminate Seizure Fund Expenditure (and Revenue) (131) (131)
RRFA Communication 50 ‐
Grant Funded Expense 97 ‐
Extend Contract Arborist for additional year ‐ 60
Compensation for 2013 LED Project warranty work 25 ‐
Kennydale Traffic Calming 20 ‐
Truck Mounted Arrow Board and Speed Radar 14 20
School Flashing Beacons (2 new schools & Upgrade Existing) 58 40
Electricity savings from LED Street Lights (130) (160)
Healthcare Insurance Premium ‐ (255)
Transfer to CIP‐Property Acquisition 3,400 42
Total Adjustment ($ in thousands) 3,301$ 1,414$
AGENDA ITEM #
10/12/2015
7
Staffing ChangeDept Div FTE Proposed Previous 2016 Funding source status GF Adjustment
ASD Fin Fin Svs Manager (m30) (m26) 16,540$ 16,540$
ASD IT GIS Manager (m30) (m26) 16,540 Internal Service
CED Current Planning 0.50 Senior Planner 68,798 permit fee 68,798
CED Current Planning 0.50 Admin Sec 38,396 permit fee 38,396
CED Current Planning 1.00 CE II (PW Plan Review) 137,727 permit fee 137,727
CED Current Planning 1.00 ES III (Property/Mapping) 125,278 permit fee 125,278
CED Development Svs 1.00 1 LT Building/Combo inspector 123,753 permit fee 123,753
CED Development Svs 1.00 1 Construction Inspector 123,753 fee & interfund charge 123,753
CED Development Svs ‐1.00 eliminate Dev Svs Director (158,155) permit fee (158,155)
CED various 4 Upgrade/Reclass/Promotion 36,459 permit fee 36,459
CA Civil 1.00 Legal Assistant (a7) 104,583 Approved 104,583
CS Facilities Fac Mnt Mgr (m28) Fac Mnt Supv (a21) 9,562 Internal Service Approved
CS Fac & Pks Planning 2.00 1 LT Pk/1 LT Fac CIP Coord 251,166 CIP Reimbuse 251,166
Exec Comm Com Mgr (m26) Com Sp 2 (m21) 12,000 Internal Service Approved
Exec Comm Com Sp 1 (a12) Com Sp 2 (m21) (18,790) Internal Service Approved
Exec Comm 0.13 Office Assistant 1 9,933 Internal Service Approved
Exec Exec 0.50 Secretary 2 50,791 Approved 50,791
Exec Exec Mayor pay adj ($15,828) + payroll taxes 17,828 17,828
HRRM HR HR Manager (m32) (m30) 5,783 5,783
PD Patrol 4.00 Police Officer 527,151 527,151
PD Patrol 4.00 Police Officer, Over‐Hire ‐ salary saving ‐
PW Trans Maint 0.50 CE 2 56,616 Energy Saving Adjusted 56,616
PW Trans Planning 1.00 AS 1 104,533 50% CIP Adjusted 52,267
PW Trans Planning 1.00 CE 3 142,665 50% CIP Adjusted 71,333
PW Maintenance Street Maint. Mgr (m30) (m28) 5,486 5,486
PW Maintenance Wastewater Maint. Mgr (m30) (m28) 5,487 45% Utilities 2,469
Total 18.13 1,813,883$ 1,658,021$
Previously adjusted 2.50 303,814 180,215
This Adjustment 15.63 1,510,069$ 1,477,806$
General Fund Balance14
Genearl Fund Summary 2015 2016 Biennial Total
General Fund Revenue before Adjustment 128,461,095$ 116,924,565$ 245,385,660$
2015‐16 Mid Biennial Budget Adjustment 2,054,586 1,894,162 3,948,748
Adjusted GF Revenue Sources 130,515,681$ 118,818,727$ 249,334,408$
General Fund Expenditure and Uses 130,898,969$ 116,962,010$ 247,860,979$
2015‐16 Mid Biennial Budget Adjustment 3,301,214 1,414,100 4,715,314
Adjusted GF Expenditure & Uses 134,200,184$ 118,376,110$ 252,576,294$
Net Budgeted Income(Loss) (3,684,503) 442,617 (3,241,886)
Beginning Fund Balance 17,565,282 13,880,779 17,565,282
Ending Fund Balance 13,880,779 14,323,396 14,323,396
Fund Balance as % of GF Operating Expenses 12.38% 12.29%
AGENDA ITEM #
10/12/2015
1
15
General Fund Financial Summary
2012 2013 2014 2015 2016 2017 2018 2019 2020
Summary ($ in Million) Actual Actual Actual Projected Projected Projected Projected Projected Projected
Beginning Fund Balance 10.8$ 15.6$ 17.5$ 17.6$ 15.1$ 14.3$ 14.3$ 12.6$ 6.8$
Operating Revenue 101.8$ 103.9$ 108.9$ 110.7$ 116.9$ 119.6$ 122.0$ 122.5$ 125.0$
Base Operating Expenditure (99.3) (101.1) (107.6) (112.3) (116.5) (119.6) (123.6) (128.3) (133.2)
Operating Surplus (Deficit) 2.5$ 2.8$ 1.3$ (1.6)$ 0.3$ (0.0)$ (1.7)$ (5.8)$ (8.2)$
1X Sources * 6.7$ 1.6$ 2.8$ 17.7$ 2.0$ 0.3$ 0.3$ 0.3$ 0.3$
1X Uses (4.6) (2.6) (4.1) (18.6) (1.9) (0.3) (0.3) (0.3) (0.3)
Net Resources ‐ Uses 4.5$ 1.9$ 0.1$ (2.4)$ 0.4$ (0.0)$ (1.7)$ (5.8)$ (8.2)$
Ending Fund Balance 15.6$ 17.5$ 17.6$ 15.1$ 14.3$ 14.3$ 12.6$ 6.8$ (1.4)$
$(20.0)
$‐
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
$160.0
2012 2013 2014 2015 2016 2017 2018 2019 2020
Base Operating Expenditure Operating Revenue Ending Fund Balance
Highlight of Non-General Fund Adjustment
Leased Facilities Fund (108): Recognize new tenant improvement/ commission costs and provide $875k interfund loan* to be repaid in 5 years.
Municipal Capital Fund (316): Incorporate proposed property acquisitions previously approved by the city Council (final parcel for Sunset Park/ Sunset Lane) & other property acquisitions totaling $8.95 million funded by (a) surplus of Sunset Court Park; (b) a transfer of 1‐time resources from the General Fund; and (c) a 4‐year/$4 million interfund loan* from utility funds.
Align 2016 transportation projects based on TIP and add the Sunset Lane construction proposed to be financed by a Local Improvement District.
* Requires an Interfund Loan Resolution.
16
AGENDA ITEM #
10/12/2015
9
Total Adjusted Appropriation17
All Fund Summary 2015 2016 Biennial Total
All Fund Revenue before Adjustment 291,263,391 243,851,952 535,115,343
2015‐16 Mid Biennial Budget Adjustment 9,810,943 14,001,919 23,812,862
Adjusted Revenue Sources 301,074,334 257,853,871 558,928,205
All Fund Expenditure and Uses 327,141,179 242,561,320 569,702,499
2015‐16 Mid Biennial Budget Adjustment 15,694,475 12,828,477 28,522,952
Adjusted Expenditure & Uses 342,835,655 255,389,797 598,225,452
Net Budgeted Income(Loss) (41,761,321) 2,464,074 (39,297,247)
Beginning Fund Balance 123,798,945 82,037,624 123,798,945
Ending Fund Balance 82,037,624 84,501,698 84,501,698
Mid-Biennium Review Process18
October 12 (Committee of the Whole) Revenue Update and Proposed 2015‐16 Adjustment
October 26 (Regular Council Meeting) Public Hearing:
2016 Revenue and Property Tax Levy
Mid‐biennium Budget Adjustments
November 2 (Committee of the Whole) Council Deliberation
Finalize Committee Report
November 2 (Regular Council Meeting) Committee Report Adoption
Ordinances First Reading
November 9 (Regular Council Meeting) Ordinances / Resolution Final Reading/Adoption
AGENDA ITEM #
1
CITY OF RENTON, WASHINGTON
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AMENDING THE CITY OF RENTON FISCAL YEARS 2015/2016 BIENNIAL BUDGET AS ADOPTED BY ORDINANCE NO. 5737, AND THEREAFTER AMENDED BY ORDINANCE NOS. 5755 AND 5764, IN THE AMOUNT OF $28,522,952.
WHEREAS, on November 3, 2014, the Council adopted Ordinance No. 5737 approving
the City of Renton’s 2015/2016 Biennial Budget; and
WHEREAS, on April 13, 2015, the Council adopted Ordinance No. 5755 carrying forward
funds appropriated in 2014, but not expended in 2014, due to capital project interruptions and
delays in invoice payments, that needed to be carried forward and appropriated for
expenditure in 2015; and
WHEREAS, on August 10, 2015, the Council adopted Ordinance No. 5764 making minor
corrections and recognizing grants, contributions and associated costs, and new cost items not
included in the budget, which required additional adjustments to the 2015/2016 Biennial
Budget; and
WHEREAS, pursuant to Chapter 35A.34 RCW the Council is required to provide for a mid
biennial review, and any modification thereto shall occur no sooner than eight months after the
start, but no later than the conclusion of the first year of the biennium;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. Ordinance Nos. 5737, 5755 and 5764 establishing the City of Renton’s
2015/2016 Biennial Budget are hereby amended in the total amount of $28,522,952 for an
amended total of $598,225,450 over the biennium.
2015-2016 Mid-Biennial Budget Amendment Ordinance 1
AGENDA ITEM #
ORDINANCE NO. _______
2
SECTION II. Summary budget adjustments by fund for 2015 and 2016 are hereby
attached as Exhibits A and B, respectively. Detailed lists of adjustments are available for public
review in the Office of the City Clerk, Renton City Hall.
SECTION III. This ordinance shall be effective upon its passage, approval, and five (5)
days after publication.
PASSED BY THE CITY COUNCIL this _____ day of ____________________, 2015.
________________________________ Jason A. Seth, City Clerk APPROVED BY THE MAYOR this _____ day of ____________________, 2015. _________________________________ Denis Law, Mayor Approved as to form: ______ Lawrence J. Warren, City Attorney Date of Publication: ______________ ORD:1889:10/5/15:scr
2015-2016 Mid-Biennial Budget Amendment Ordinance 2
AGENDA ITEM #
ORDINANCE NO. _______
3
Exhibit A: 2015 Mid‐Biennial Budget Adjustment Summary by Fund BEGINNING FUND BALANCE REVENUES EXPENDITURES ENDING FUND BALANCE
Fund
2015 Beg
Fund Bal Changes
2015 Adj
Fund Bal
2015
Budgeted Changes
2015
Adjusted
2015
Budgeted Changes
2015
Adjusted
Ending Fund
Ba lance
Reserved/
Des ignated
Ava i lable
Fund
Balance
000 GENERAL 11,159,313 ‐ 11,159,313 84,865,472 2,711,586 87,577,058 87,025,065 3,314,214 90,339,279 8,397,091 8,397,091
001 COMMUNITY SERVICES 2,467,703 ‐ 2,467,703 12,478,920 (500,000) 11,978,920 12,608,356 ‐ 12,608,356 1,838,267 1,838,267
003 STREETS 2,147,229 ‐ 2,147,229 10,186,242 (157,000) 10,029,242 10,353,242 (13,000) 10,340,242 1,836,229 1,836,229
004 COMMUNITY DEVELOPMENT BLOCK GRANT 74,951 ‐ 74,951 462,908 ‐ 462,908 448,804 ‐ 448,804 89,055 89,055
005 MUSEUM 65,500 ‐ 65,500 227,761 ‐ 227,761 227,761 ‐ 227,761 65,500 65,500
009 FARMERS MARKET 104,950 ‐ 104,950 59,400 ‐ 59,400 59,453 ‐ 59,453 104,897 (104,897) ‐
011 FIRE AND EMERGENCY SVC HEALTH & WELLNESS 74,565 ‐ 74,565 25,000 ‐ 25,000 25,000 ‐ 25,000 74,565 (74,565) ‐
21X GENERAL GOVERNMENT MISC DEBT SVC 1,471,071 ‐ 1,471,071 20,155,392 ‐ 20,155,392 20,151,288 ‐ 20,151,288 1,475,175 ‐ 1,475,175
Total General Governmental Funds 17,565,282 ‐ 17,565,282 128,461,095 2,054,586 130,515,681 130,898,969 3,301,214 134,200,183 13,880,779 (179,462) 13,701,317
102 ARTERIAL STREETS 14,885 ‐ 14,885 640,000 ‐ 640,000 640,000 ‐ 640,000 14,885 14,885
108 LEASED CITY PROPERTIES 121,014 ‐ 121,014 768,957 882,500 1,651,457 663,403 1,097,515 1,760,918 11,553 11,553
110 SPECIAL HOTEL‐MOTEL TAX 219,090 ‐ 219,090 265,000 ‐ 265,000 283,942 ‐ 283,942 200,148 200,148
125 ONE PERCENT FOR ART 101,380 ‐ 101,380 15,000 ‐ 15,000 102,950 ‐ 102,950 13,430 13,430
127 CABLE COMMUNICATIONS DEVELOPMENT 313,090 ‐ 313,090 97,674 ‐ 97,674 117,674 ‐ 117,674 293,090 293,090
135 SPRINGBROOK WETLANDS BANK 330,922 ‐ 330,922 ‐ ‐ ‐ ‐ ‐ ‐ 330,922 330,922
303 COMMUNITY SERVICES IMPACT MITIGATION 1,238,600 ‐ 1,238,600 86,500 ‐ 86,500 ‐ 472,264 472,264 852,836 852,836
304 FIRE IMPACT MITIGATION 926,488 ‐ 926,488 99,000 ‐ 99,000 250,000 ‐ 250,000 775,488 775,488
305 TRANSPORTATION IMPACT MITIGATION 844,648 ‐ 844,648 600,000 ‐ 600,000 1,152,335 ‐ 1,152,335 292,313 292,313
316 MUNICIPAL FACILITIES CIP 4,493,986 ‐ 4,493,986 5,546,015 8,622,264 14,168,279 9,746,585 8,621,904 18,368,489 293,776 293,776
317 CAPITAL IMPROVEMENT 4,059,718 ‐ 4,059,718 18,973,614 (2,342,750) 16,630,864 22,353,726 (3,362,957) 18,990,769 1,699,813 (650,000) 1,049,813
326 HOUSING OPPORTUNITY/ECO DEV REVOLVING 1,086,766 ‐ 1,086,766 ‐ ‐ ‐ 75,000 ‐ 75,000 1,011,766 (1,000,000) 11,766
336 NEW LIBRARY DEVELOPMENT 15,329,760 ‐ 15,329,760 ‐ ‐ ‐ 15,329,760 ‐ 15,329,760 ‐ ‐
402 AIRPORT OPERATIONS & CIP 806,821 ‐ 806,821 16,596,888 ‐ 16,596,888 16,469,927 ‐ 16,469,927 933,782 (172,053) 761,729
403 SOLID WASTE UTILITY 1,545,606 ‐ 1,545,606 16,461,726 ‐ 16,461,726 16,675,139 ‐ 16,675,139 1,332,193 (400,000) 932,193
404 GOLF COURSE SYSTEM & CAPITAL (42,911) ‐ (42,911) 2,655,383 ‐ 2,655,383 2,616,052 ‐ 2,616,052 (3,580) ‐ (3,580)
405 WATER OPERATIONS & CAPITAL 15,872,094 ‐ 15,872,094 16,272,634 ‐ 16,272,634 20,799,381 2,500,000 23,299,381 8,845,347 (3,130,093) 5,715,254
406 WASTEWATER OPERATIONS & CAPITAL 10,905,399 ‐ 10,905,399 28,617,862 ‐ 28,617,862 30,226,798 1,500,000 31,726,798 7,796,463 (1,875,988) 5,920,475
407 SURFACE WATER OPERATIONS & CAPITAL 7,804,221 ‐ 7,804,221 17,244,568 594,343 17,838,911 21,196,980 594,343 21,791,323 3,851,809 (1,084,194) 2,767,615
501 EQUIPMENT RENTAL 5,310,319 ‐ 5,310,319 5,901,271 ‐ 5,901,271 7,436,777 ‐ 7,436,777 3,774,813 3,774,813
502 INSURANCE 12,069,311 ‐ 12,069,311 5,641,647 ‐ 5,641,647 3,594,578 875,000 4,469,578 13,241,380 (13,683,653) (442,273)
503 INFORMATION SERVICES 1,916,048 ‐ 1,916,048 4,677,631 ‐ 4,677,631 5,653,265 ‐ 5,653,265 940,414 940,414
504 FACILITIES 1,154,089 ‐ 1,154,089 4,954,325 ‐ 4,954,325 5,115,716 94,377 5,210,093 898,321 898,321
505 COMMUNICATIONS 383,969 ‐ 383,969 992,431 ‐ 992,431 991,430 815 992,245 384,155 384,155
512 HEALTHCARE INSURANCE 6,675,505 ‐ 6,675,505 12,954,736 ‐ 12,954,736 13,424,573 ‐ 13,424,573 6,205,668 (4,027,372) 2,178,296
522 LEOFF1 RETIREES HEALTHCARE 7,711,863 ‐ 7,711,863 2,271,434 ‐ 2,271,434 1,115,744 ‐ 1,115,744 8,867,553 (223,149) 8,644,404
611 FIREMENS PENSION 5,040,982 ‐ 5,040,982 468,000 ‐ 468,000 210,475 ‐ 210,475 5,298,507 (5,298,507) ‐
Total Other Funds 106,233,663 ‐ 106,233,663 162,802,296 7,756,357 170,558,653 196,242,210 12,393,261 208,635,471 68,156,845 (31,545,009) 36,611,836
TOTAL ALL FUNDS 123,798,945 ‐ 123,798,945 291,263,391 9,810,943 301,074,333 327,141,179 15,694,475 342,835,654 82,037,624 (31,724,471) 50,313,153
2015-2016 Mid-Biennial Budget Amendment Ordinance 3
AG
END
A ITEM
#
4
Exhibit B: 2016 Mid‐Biennial Budget Adjustment Summary by Fund BEGINNING FUND BALANCE REVENUES EXPENDITURES ENDING FUND BALANCE
Fund
2016 Beg
Fund Bal Changes
2016 Adj.
Fund Bal
2016
Budgeted
Revenue Changes
2016
Adjusted
Revenue
2016
Budgeted
Expendi ture Changes
2016
Adjusted
Expenditure
Ending Fund
Balance
Reserved/
Des ignated
Avai lable
Fund
Balance
000 GENERAL 8,505,869 (108,778) 8,397,091 86,749,334 2,224,996 88,974,330 86,765,519 1,194,979 87,960,498 9,410,923 9,410,923
001 COMMUNITY SERVICES 2,022,533 (184,266) 1,838,267 12,727,828 (248,834) 12,478,994 12,727,828 311,166 13,038,993 1,278,267 1,278,267
003 STREETS 1,581,566 254,663 1,836,229 10,571,584 (82,000) 10,489,584 10,600,405 (92,045) 10,508,360 1,817,453 1,817,453
004 COMMUNITY DEVELOPMENT BLOCK GRANT 24,301 64,754 89,055 307,462 ‐ 307,462 295,986 ‐ 295,986 100,531 100,531
005 MUSEUM 52,979 12,521 65,500 235,281 ‐ 235,281 235,281 ‐ 235,281 65,500 65,500
009 FARMERS MARKET 75,551 29,346 104,897 59,400 ‐ 59,400 63,315 ‐ 63,315 100,982 (100,982) ‐
011 FIRE AND EMERGENCY SVC HEALTH & WELLNESS 55,094 19,471 74,565 25,000 ‐ 25,000 25,000 ‐ 25,000 74,565 (74,565) ‐
21X GENERAL GOVERNMENT MISC DEBT SVC 1,115,674 359,501 1,475,175 6,248,676 ‐ 6,248,676 6,248,676 ‐ 6,248,676 1,475,175 ‐ 1,475,175
Total General Governmental Funds 13,433,567 447,212 13,880,779 116,924,565 1,894,162 118,818,726 116,962,010 1,414,100 118,376,109 14,323,396 (175,547) 14,147,848
102 ARTERIAL STREETS 15,689 (804) 14,885 650,000 ‐ 650,000 650,000 ‐ 650,000 14,885 14,885
108 LEASED CITY PROPERTIES 473,815 (462,262) 11,553 768,957 155,133 924,090 671,979 205,184 877,163 58,479 58,479
110 SPECIAL HOTEL‐MOTEL TAX 155,913 44,235 200,148 265,000 ‐ 265,000 265,000 ‐ 265,000 200,148 200,148
125 ONE PERCENT FOR ART 4,821 8,609 13,430 15,000 ‐ 15,000 ‐ ‐ ‐ 28,430 28,430
127 CABLE COMMUNICATIONS DEVELOPMENT 285,632 7,458 293,090 97,674 ‐ 97,674 97,674 ‐ 97,674 293,090 293,090
135 SPRINGBROOK WETLANDS BANK 669,613 (338,691) 330,922 ‐ ‐ ‐ ‐ ‐ ‐ 330,922 330,922
303 COMMUNITY SERVICES IMPACT MITIGATION 1,197,118 (344,282) 852,836 86,500 ‐ 86,500 ‐ ‐ ‐ 939,336 939,336
304 FIRE IMPACT MITIGATION 695,165 80,323 775,488 99,000 ‐ 99,000 250,000 ‐ 250,000 624,488 624,488
305 TRANSPORTATION IMPACT MITIGATION 769,685 (477,372) 292,313 216,500 216,500 433,000 ‐ ‐ ‐ 725,313 725,313
316 MUNICIPAL FACILITIES CIP 424,689 (130,913) 293,776 5,103,000 1,041,587 6,144,587 5,392,000 1,041,587 6,433,587 4,776 4,776
317 CAPITAL IMPROVEMENT 327,434 1,372,379 1,699,813 6,582,000 9,241,465 15,823,465 6,831,590 10,364,168 17,195,758 327,520 327,520
326 HOUSING OPPORTUNITY/ECO DEV REVOLVING 1,010,599 1,167 1,011,766 ‐ ‐ ‐ ‐ ‐ ‐ 1,011,766 (1,000,000) 11,766
336 NEW LIBRARY DEVELOPMENT 57,000 (57,000) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
402 AIRPORT OPERATIONS & CIP 623,969 309,813 933,782 3,473,293 ‐ 3,473,293 3,786,185 (546,000) 3,240,185 1,166,890 (177,896) 988,994
403 SOLID WASTE UTILITY 1,044,342 287,851 1,332,193 16,514,320 ‐ 16,514,320 17,144,532 ‐ 17,144,532 701,980 (400,000) 301,980
404 GOLF COURSE SYSTEM & CAPITAL 151,022 (154,602) (3,580) 2,812,793 ‐ 2,812,793 2,303,479 ‐ 2,303,479 505,735 (306,592) 199,143
405 WATER OPERATIONS & CAPITAL 10,565,303 (1,719,956) 8,845,347 16,308,371 650,992 16,959,363 17,894,664 14,471 17,909,135 7,895,576 (2,866,331) 5,029,245
406 WASTEWATER OPERATIONS & CAPITAL 8,430,756 (634,293) 7,796,463 26,417,398 390,595 26,807,993 25,897,580 18,079 25,915,659 8,688,797 (1,714,042) 6,974,755
407 SURFACE WATER OPERATIONS & CAPITAL 3,366,916 484,893 3,851,809 9,859,250 193,286 10,052,536 10,026,642 244,443 10,271,085 3,633,259 (1,123,391) 2,509,868
501 EQUIPMENT RENTAL 3,865,586 (90,773) 3,774,813 5,970,145 ‐ 5,970,145 4,248,192 ‐ 4,248,192 5,496,766 5,496,766
502 INSURANCE 12,504,225 737,155 13,241,380 3,991,201 175,000 4,166,201 3,509,594 ‐ 3,509,594 13,897,988 (14,179,391) (281,403)
503 INFORMATION SERVICES 833,056 107,358 940,414 4,702,271 20,600 4,722,871 4,712,338 37,140 4,749,478 913,807 913,807
504 FACILITIES 710,924 187,397 898,321 4,930,944 22,600 4,953,544 4,926,946 32,162 4,959,108 892,758 892,758
505 COMMUNICATIONS 328,743 55,412 384,155 1,027,739 ‐ 1,027,739 1,026,738 3,143 1,029,881 382,013 382,013
512 HEALTHCARE INSURANCE 5,950,595 255,073 6,205,668 14,295,824 ‐ 14,295,824 14,596,149 ‐ 14,596,149 5,905,343 (4,378,845) 1,526,498
522 LEOFF1 RETIREES HEALTHCARE 7,745,180 1,122,373 8,867,553 2,272,207 ‐ 2,272,207 1,167,553 ‐ 1,167,553 9,972,207 (9,972,207) ‐
611 FIREMENS PENSION 5,165,003 133,504 5,298,507 468,000 ‐ 468,000 200,475 ‐ 200,475 5,566,032 (5,566,032) ‐
Total Other Funds 67,372,793 784,052 68,156,845 126,927,387 12,107,758 139,035,145 125,599,310 11,414,377 137,013,687 70,178,303 (41,684,726) 28,493,577
TOTAL ALL FUNDS 80,806,360 1,231,264 82,037,624 243,851,952 14,001,919 257,853,871 242,561,320 12,828,477 255,389,796 84,501,698 (41,860,273) 42,641,425
2 year total 123,798,945 535,115,343 23,812,862 558,928,204 569,702,499 28,522,952 598,225,450 84,501,698 (41,860,273) 42,641,425
2015-2016 Mid-Biennial Budget Amendment Ordinance 4
AG
END
A ITEM
#
2015/2016 Mid‐Biennial Budget Amendment Detail 1/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
GENERAL FUND (Fund 0XX)
Beginning Fund Balance 17,565,282 ‐ ‐ 17,565,282
REVENUES 245,385,659
CW Property Tax ‐ 260,000
CW Sales Tax (Use, Annexation, and Criminal Justice) 1,140,000 1,060,000
CW Electricity and Natural Gas Utility/Use Tax (732,000) (732,000)
CW Transfer Station 180,000 180,000
CW City Utility Taxes 150,000 150,000
CW Cellular Utility Tax (150,000) (300,000)
CW State Shared Revenues 250,000 620,000
CW Gambling Tax 400,000 ‐
CED Permit Fees 825,000 480,000
CED Water, Wastewater, and Surface Water share of Inspection Positions ‐ 55,689
FES Reimbursement of state wildfire mobilization 20,286 ‐
FES Reimbursement for personnel cost to conduct DUI drill. FD #25 4,090 ‐
FES 2015 EMPG Grant 72,903 ‐
CS Add 2.0 LT Capital Project Coordinators (1.0 Facilities/1.0 Parks) ‐ 251,166
PW Compensation for 2013 LED Project warranty work 25,000 ‐
PD Remove budget for state seizure money (130,693) (130,693)
Total Revenue Adjustment 245,385,659 2,054,586 1,894,162 249,334,407
EXPENDITURES 247,860,979
EXE Convert Secretary 0.5 FTE to 1.0 FTE (Approved 8/10/15) 16,302 50,791
EXE Mayor pay/ben adjustment ‐ 17,828
AS Reclass Financial Svcs Mgr m26 to m30 ‐ 16,540
CA Add 1.0 Legal Assistant (Approved 8/10/15) ‐ 104,583
CED Eliminate Development Svcs Director (123,098) (158,155)
CED Reclass Building Official m32 to m33 ‐ 3,345
CED Reclass Building Plan Reviewer a23 to m26 ‐ 9,359
CED Reclass Senior Planner a28 to Long Range Planning Mgr m33 ‐ 13,238
CED Reclass 0.5 FTE Office Assistant 2 a03 to 1.0 FTE Admin Sec 1 a09 ‐ 38,396
CED Add 0.5 FTE Senior Planner ‐ 68,798
CED Reclass Mapping Coordinator a29 to Mapping Supervisor m29 ‐ 627
CED Reclass Plan Reviewer to Civil Engineer 2 (Approved 8/10/15) 4,424 9,890
CED Add 1.0 Civil Engineer 2 ‐ 137,727
CED Add 1.0 LT Building/Combo Inspector ‐ 123,753
CED Add 1.0 Construction Inspector ‐ 123,753
CED Add 1.0 Engineering Specialist 3 ‐ 125,278
CED Office Equipment for 4 New CED positions ‐ 43,200
PD Valley Comm Contract Adjustment ‐ 74,000
PD Add 4.0 Police Officers ‐ 527,151
PD Add 4.0 Police Officers (overhire funded with salary savings) ‐ ‐
PD SCORE Contract Adjustment ‐ 203,000
PD Remove budget for state seizure money (130,693) (130,693)
FES Communication consultant for RFA education outreach 50,000 ‐
FES Response to state wildfire mobilization 20,286 ‐
FES Personnel cost to conduct DUI drill. FD #25 4,090 ‐
FES 2015 EMPG Grant 72,903 ‐
HR Reclass Human Resources Mgr m30 to m32 ‐ 5,783
CS Add 2.0 LT Capital Project Coordinators (1.0 Facilities/1.0 Parks ‐ 251,166
CS Extend Contract Arborist for additional year ‐ 60,000
PW Compensation for 2013 LED Project warranty work 25,000 ‐
PW Kennydale Traffic Calming 20,000 ‐
PW Truck Mounted Arrow Board and Speed Radar Display Signs 14,000 20,000
PW School Flashing Beacons (2 Schools) and School Beacon Mother Boards 58,000 40,000
PW Electricity savings (130,000) (160,000)
PW Reclass Waste Water/Spec Ops Mgr m28 to m30 ‐ 2,469
PW Reclass Street Maint Mgr m28 to m30 ‐ 5,486
CW Healthcare Insurance Premium ‐ (254,800)
CW Transfer for Property Acquisition/Interfund Loan 3,400,000 41,587
Total Expenditure Adjustment 247,860,979 3,301,214 1,414,100 252,576,293
Ending Fund Balance 15,089,962 (1,246,628) 480,062 14,323,396
2015-2016 Mid-Biennial Budget Amendment Ordinance 5
AGENDA ITEM #
2015/2016 Mid‐Biennial Budget Amendment Detail 2/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
LEASED FACILITIES FUND (Fund 108)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 121,014 ‐ 121,014
REVENUES 1,537,914
CS Adjust 2016 Leased City Properties revenues to rent schedules ‐ 155,133
CS Leased City Properties interfund loan from Insurance Fund (5yrs) 875,000 ‐
CS Tenant funded portion of TI ‐ Attorney and Notary Supply lease 7,500 ‐
Total Revenue Adjustment 1,537,914 882,500 155,133 2,575,547
EXPENDITURES 1,335,382
CS Payment on Interfund loan from Insurance Fund (5yrs) ‐ 175,000
CS Reallocate existing 200 Mill budget to better reflect current operations ‐ ‐
CSBroker commission for Attorney and Notary Supply lease ‐ 200
Mill Building 13,694 ‐
CS Broker commission for Crawford and Company lease ‐ 200 Mill Building 40,000 ‐
CS Jones Lange LaSalle commission on Iron Mountain lease renewal 42,642 ‐
CS Jones Lange LaSalle commission on KCSARC lease renewal 37,105 ‐
CS Kidder Mathews commission Amazing Grace 3rd floor lease 25,000 ‐
CS Kidder Mathews commission on Iron Mountain lease renewal 21,312 ‐
CS Kidder Mathews commission on KCSARC lease renewal 13,553 ‐
CS Additional M&O for AG 3rd floor lease ‐ 200 Mill Bldg ‐ 41,965
CS Additional M&O for Attorney & Notary Supply lease ‐ 200 Mill ‐ 14,168
CS Additional M&O for Crawford & Company lease ‐ 200 Mill Bldg ‐ 30,051
CS Adjust for cancellation of Diamond Parking contract ‐ (56,000)
CS TI ‐ Amazing Grace 3rd floor 200 Mill 470,000 ‐
CS TI ‐ Crawford and Company lease ‐ 200 Mill Building 128,098 ‐
CS TI ‐ Iron Mountain lease renewal 10,000 ‐
CS TI ‐ KCSARC lease renewal 74,210 ‐
CS TI Attorney and Notary Supply lease ‐ 200 Mill Building 15,000 ‐
CS TI Amazing Grace 1st Floor ‐ 200 Mill 206,902 ‐
Total Expenditure Adjustment 1,335,382 1,097,515 205,184 2,638,082
Ending Fund Balance 323,546 (215,015) (50,051) 58,479
IMPACT MITIGATION FUNDS (Fund 303, 304, 305)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 3,009,736 ‐ 3,009,736
REVENUES 1,187,500
PW Sidewalk Fee‐in‐Lieu off ‐ 17,500
PW Transportation Impact Fees ‐ 195,000
PW Investment Interest ‐ 4,000
Total Revenue Adjustment 1,187,500 ‐ 216,500 1,404,000
EXPENDITURES 1,652,335
CS Partially fund May Creek Acquisition 319,514 ‐
CS Fletcher Acquisition appraisal 2,750 ‐
CS Property Acquisition 150,000 ‐
Total Expenditure Adjustment 1,652,335 472,264 ‐ 2,124,599
Ending Fund Balance 2,544,901 (472,264) 216,500 2,289,137
2015-2016 Mid-Biennial Budget Amendment Ordinance 6
AGENDA ITEM #
2015/2016 Mid‐Biennial Budget Amendment Detail 3/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
MUNICIPAL CIP FUND (Fund 316)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 4,493,986 ‐ 4,493,986
REVENUES 10,649,015
CS REET ‐ Property Acquisition 400,000 ‐
CS Partially fund May Creek Acquisition from 303 Fund 319,514 ‐
CS Transfer from 303 Fund to Fletcher Acquisition appraisal 2,750 ‐
CS Remove Conservation Futures funding not to be received in 2015 (650,000) ‐
CS Interfund Loan ‐ Property Acquisition 4,000,000 ‐
CS Sunset Court Park Sales Proceeds 500,000 ‐
CS Transfer from GF/303 ‐ Property Acquisition/Interest Surplus 3,550,000 41,587
CS Old Highlands Library Sales Proceeds ‐ 1,000,000
CS Transfer Surplus from 336 (Library Construction Fund) 500,000 ‐
Total Revenue Adjustment 10,649,015 8,622,264 1,041,587 20,312,866
EXPENDITURES 15,138,585
CS Repayment of interfund loan ‐ Principal ‐ 975,587
CS Repayment of interfund loan ‐ Interest ‐ 66,000
CS Remove Conservation Futures funding not to be received in 2015 (650,000) ‐
CS Partially fund May Creek Acquisition from Prop 2 Levy Funds 300,486 ‐
CS Partially fund May Creek Acquisition from 303 Impact Mitigation Funds 319,514 ‐
CS Transfer from Irrigation Renovation and Conservation to Sunset EIS Park Improvem ‐ (250,000)
CS Transfer from Sport Court Repairs to North Highlands Park Improvements (110,000) ‐
CS Transfer from Parking Lot and Driveway Repairs to Riverview Bridge (100,000) ‐
CS Transfer from Park MM Playgrds, Kiosks & Interpretive Signs to Kenyon‐Dobson Bu (115,474) ‐
CS Transfer from Parks MM Playgrds, Kiosks & Interpretive Signs to Kenyon‐Dobson b ‐ (120,000)
CS Transfer from Parks MM Light Systems Upgrades to North Highlands Park Improve (26,602) ‐
CS Transfer from Parks MM ‐ Shoreline and Bank Stabilization to Sunset EIS Park Imp ‐ (50,000)
CS Transfer from Parks MM Shoreline and Bank Stabilization to Kenyon‐Dobson build ‐ (62,500)
CS Correct Carryforward Budget Adjustment for Transposition (360) ‐
CS Partially fund May Creek Acquisition from Prop 2 Levy Funds (300,486) ‐
CS Transfer from Prop 2 Levy Funds to Kenyon‐Dobson property appraisal (3,500) ‐
CS Transfer from Prop 2 Levy Funds to May Valley Meadows property appraisal (3,500) ‐
CS Transfer from Parking Lot and Driveway Repairs to Riverview Bridge 100,000 ‐
CS Transfer from Irrigation Renovation and Conservation to Sunset EIS Park Improvem ‐ 250,000
CS Transfer from Parks MM ‐ Shoreline and Bank Stabilization to Sunset EIS Park Imp ‐ 50,000
CS Transfer from 303 Impact Mitigation Funds to Fletcher Acquisition appraisal 2,750 ‐
CS Transfer from Coulon Park Shoreline Erosion to Coulon Park Tennis Courts Refurbi 55,000 ‐
CS Transfer from Coulon Park Shoreline Erosion to Coulon Park Tennis Courts Refurbi (55,000) ‐
CS Transfer from Coulon Park Dolphins/Camel Logs Replacement to Coulon Park Pave 139,688 ‐
CS Transfer from Coulon Park Dolphins/Camel Logs Replacement to Coulon Park Pave (139,688) ‐
CS Transfer from Prop 2 Levy Funds to Kenyon‐Dobson property appraisal 3,500 ‐
CS Transfer from Park MM Playgrds, Kiosks & Interpretive Signs to Kenyon‐Dobson Bu 115,474 ‐
CS Transfer from Parks MM Playgrds, Kiosks & Interpretive Signs to Kenyon‐Dobson b ‐ 120,000
CS Transfer from Parks MM Shoreline and Bank Stabilization to Kenyon‐Dobson build ‐ 62,500
CS Transfer from Sport Court Repairs to North Highlands Park Improvements 110,000 ‐
CS Transfer from Parks MM Light Systems Upgrades to North Highlands Park Improve 26,602 ‐
CS Property Acquisition Coulon Park Expansion ‐ ‐
CS Transfer from Prop 2 Levy Funds to May Valley Meadows property appraisal 3,500 ‐
CS Property Acquisition 8,400,000 ‐
CS Node Property 550,000 ‐
Total Expenditure Adjustment 15,138,585 8,621,904 1,041,587 24,802,076
Ending Fund Balance 4,416 360 ‐ 4,776
2015-2016 Mid-Biennial Budget Amendment Ordinance 7
AGENDA ITEM #
2015/2016 Mid‐Biennial Budget Amendment Detail 4/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
TRANSPORTATION CIP FUND (Fund 317)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 4,059,718 ‐ 4,059,718
REVENUES 25,555,614
PW Business Licenses ‐ 73,000
PW Sunset Lane ‐ Bond Proceeds ‐ 4,850,000
PW S 7th St at Shattuck Ave S ‐ Fed STP/CMAQ (86,250) 86,250
PW S 7th St at Shattuck Ave S ‐ TIB (96,176) 96,176
PW Logan Ave N ‐ Fed STP (498,000) 498,000
PW Logan Ave N ‐ TIB (1,318,509) 782,448
PW Logan Ave N ‐ Boeing and Integra Telephone 70,777 10,944
PW NE 31st St Bridge Replacement ‐ BRAC ‐ 895,185
PW N 27th Culvert Scour Repair ‐ BRAC ‐ 354,120
PW Lake Washington Loop Trail ‐ State WSDOT ‐ 426,000
PW NE Sunset Blvd ‐ STP/CMAQ (656,967) 656,967
PW Main Ave S ‐ TIB 512,375 512,375
PW Carr Rd Improvements ‐ Safety Grant (270,000) ‐
Total Revenue Adjustment 25,555,614 (2,342,750) 9,241,465 32,454,329
EXPENDITURES 29,185,316
PW Walkway Program ‐ 55,000
PW Sunset Lane Construction ‐ 4,850,000
PW S 7th St at Shattuck Ave S (252,865) 252,865
PW Logan Ave N (1,779,967) 1,299,408
PW NE 31st Bridge Replacement ‐ 1,037,300
PW N 27th Pl Culvert Repair ‐ 355,220
PW Lake Washington Loop Trail ‐ 426,000
PW NE Sunset Blvd (1,200,000) 1,200,000
PW Main Ave S 136,375 888,375
PW Carr Rd (266,500) ‐
Total Expenditure Adjustment 29,185,316 (3,362,957) 10,364,168 36,186,527
Ending Fund Balance 430,016 1,020,207 (1,122,703) 327,520
NEW LIBRARY DEVELOPMENT FUND (Fund 336)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 15,329,760 ‐ 15,329,760
REVENUES ‐
Total Revenue Adjustment ‐ ‐ ‐ ‐
EXPENDITURES 15,329,760
CS Transfer Surplus to 316 500,000 ‐
CS Cedar River Library (100,000) ‐
CS Non‐Project specific (400,000) ‐
Total Expenditure Adjustment 15,329,760 ‐ ‐ 15,329,760
Ending Fund Balance ‐ ‐ ‐ ‐
AIRPORT FUND (Fund 402/422)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 806,821 ‐ 806,821
REVENUES 20,070,181
Total Revenue Adjustment 20,070,181 ‐ ‐ 20,070,181
EXPENDITURES 20,256,112
PW Airport Office Renovation CIP ‐ 504,000
PW Surface Water System Rehab (150,000) (900,000)
PW Fire Water System 150,000 ‐
PW Airport Seaplane Launch Ramp Replacement ‐ (150,000)
Total Expenditure Adjustment 20,256,112 ‐ (546,000) 19,710,112
Ending Fund Balance 620,890 ‐ 546,000 1,166,890
2015-2016 Mid-Biennial Budget Amendment Ordinance 8
AGENDA ITEM #
2015/2016 Mid‐Biennial Budget Amendment Detail 5/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
WATER UTILITY FUND (Fund 405/425 & etc)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 15,872,094 ‐ 15,872,094
REVENUES 32,581,005
PW Repayment of interfund loan ‐ Principal/Interest ‐ 650,992
Total Revenue Adjustment 32,581,005 ‐ 650,992 33,231,997
EXPENDITURES 38,694,044
PW Indirect Cost Allocation to Development Svcs ‐ 13,922
PW Interfund Loan 2,500,000 ‐
PW Reclass Waste Water/Spec Ops Mgr m28 to m30 ‐ 549
PW Watermain Rehabilitation (500,000) ‐
PW Highland Water Main Improvements 800,000 ‐
PW Transmission Main Replacement (380,000) ‐
PW Transmission Main Replacement in SR169 to I‐405 80,000 ‐
Total Expenditure Adjustment 38,694,044 2,500,000 14,471 41,208,515
Ending Fund Balance 9,759,055 (2,500,000) 636,521 7,895,576
WASTEWATER UTILITY FUND (Fund 406/416/426)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 10,905,399 ‐ 10,905,399
REVENUES 55,035,260
PW Repayment of interfund loan ‐ Principal/Interest ‐ 390,595
Total Revenue Adjustment 55,035,260 ‐ 390,595 55,425,855
EXPENDITURES 56,124,378
PW Indirect Cost Allocation to Development Svcs ‐ 16,707
PW Interfund Loan 1,500,000 ‐
PW Reclass Waste Water/Spec Ops Mgr m28 to m30 ‐ 1,372
Total Expenditure Adjustment 56,124,378 1,500,000 18,079 57,642,457
Ending Fund Balance 9,816,281 (1,500,000) 372,516 8,688,797
SURFACEWATER UTILITY FUND (Fund 407/427)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 7,804,221 ‐ 7,804,221
REVENUES 27,103,818
PW Cedar River Gravel Removal (Maint. Dredge) Project ‐ 8,286
PW Renton Stormwater Manual Update 50,000 ‐
PW Rainier Ave Stormwater Retrofit Project (130,657) ‐
PW Harrington Ave NE Stormwater Retrofit Project PH 2 675,000 ‐
PW N 30th St/Burnett Ave N Storm Sys Improvement ‐ 185,000
Total Revenue Adjustment 27,103,818 594,343 193,286 27,891,447
EXPENDITURES 31,223,623
PW Permit Fees ‐ 25,000
PW Indirect Cost Allocation to Development Svcs ‐ 25,060
PW Reclass Waste Water/Spec Ops Mgr m28 to m30 ‐ 1,097
PW Small Drainage Projects Program (90,270) ‐
PW Wetland Mitigation Bank Project (25,000) ‐
PW Cedar River Gravel Removal (Maint. Dredge) Project ‐ 8,286
PW Renton Stormwater Manual Update 50,000 ‐
PW Maplewood Creek Basin Storm System Improvements 25,000 ‐
PW NE 5th Pl & Edmonds Ave NE Storm System Improvement Project (90,000) ‐
PW Rainier Ave Stormwater Retrofit Project (175,387) ‐
PW Harrington Ave NE Stormwater Retrofit Project PH 2 900,000 ‐
PW N 30th St/Burnett Ave N Storm Sys Improvement ‐ 185,000
Total Expenditure Adjustment 31,223,623 594,343 244,443 32,062,409
Ending Fund Balance 3,684,416 ‐ (51,157) 3,633,259
2015-2016 Mid-Biennial Budget Amendment Ordinance 9
AGENDA ITEM #
2015/2016 Mid‐Biennial Budget Amendment Detail 6/6FUND Adopted 2015 Adjustment 2016 Adjustment Amended
INSURANCE FUND (Fund 502)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 12,069,311 ‐ 12,069,311
REVENUES 9,632,848
CS Payment from Interfund Loan to Leased Properties ‐ 175,000
Total Revenue Adjustment 9,632,848 ‐ 175,000 9,807,848
EXPENDITURES 7,104,171
CW Leased City Properties interfund loan from Insurance Fund 875,000 ‐
Total Expenditure Adjustment 7,104,171 875,000 ‐ 7,979,171
Ending Fund Balance 14,597,988 (875,000) 175,000 13,897,988
INFORMATION SERVICES FUND (Fund 503)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 1,916,048 ‐ 1,916,048
REVENUES 9,379,902
AS Civil Engineer 2 ‐ IT (PC, Office Phone) ‐ 4,350
AS LT Building Inspector/Combo ‐ IT (PC, Office Phone, Laptop, Cell Phone) ‐ 5,950
AS Construction Inspector ‐ IT (PC, Office Phone, Laptop, Cell Phone) ‐ 5,950
AS Engineering Specialist 3 ‐ IT (PC, Office Phone) ‐ 4,350
Total Revenue Adjustment 9,379,902 ‐ 20,600 9,400,502
EXPENDITURES 10,365,603
AS Reclass GIS coordinator m26 to m30 ‐ 16,540
AS Civil Engineer 2 ‐ IT (PC, Office Phone) ‐ 4,350
AS LT Building Inspector/Combo ‐ IT (PC, Office Phone, Laptop, Cell Phone) ‐ 5,950
AS Construction Inspector ‐ IT (PC, Office Phone, Laptop, Cell Phone) ‐ 5,950
AS Engineering Specialist 3 ‐ IT (PC, Office Phone) ‐ 4,350
Total Expenditure Adjustment 10,365,603 ‐ 37,140 10,402,743
Ending Fund Balance 930,347 ‐ (16,540) 913,807
FACILITIES SERVICES FUND (Fund 504)Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 1,154,089 ‐ 1,154,089
REVENUES 9,885,269
CS LT Building Inspector/Combo ‐ Facilities ‐ 11,300
CS Construction Inspector ‐ Facilities ‐ 11,300
Total Revenue Adjustment 9,885,269 ‐ 22,600 9,907,869
EXPENDITURES 10,042,661
CS LT Building Inspector/Combo ‐ Facilities ‐ 11,300
CS Construction Inspector ‐ Facilities ‐ 11,300
CS Reclass Facility Supervisor to Facility Manager (Approved 8/10/15) 4,377 9,562
CS City Hall front door replacement 90,000 ‐
CS City Hall Major Maintenance 12,000 ‐
CS Coulon Structure Maintenance (12,000) ‐
Total Expenditure Adjustment 10,042,661 94,377 32,162 10,169,200
Ending Fund Balance 996,697 (94,377) (9,562) 892,758
COMMUNICATIONS FUND (Fund 505)
Adopted 2015 Adjustment 2016 Adjustment Amended
Beginning Fund Balance 383,969 ‐ 383,969
REVENUES 2,020,170
Total Revenue Adjustment 2,020,170 ‐ ‐ 2,020,170
EXPENDITURES 2,018,168
EXE Reclass Comm Spec 2 to Comm Mgr (Approved 8/10/15) 3,646 12,000
EXE Reclass Comm Spec 2 to Comm Spec 1 (Approved 8/10/15) (5,970) (18,790)
EXE Convert Office Assistant 0.5 FTE to 0.625 FTE (Approved 8/10/15) 3,139 9,933
Total Expenditure Adjustment 2,018,168 815 3,143 2,022,126
Ending Fund Balance 385,971 (815) (3,143) 382,013
2015-2016 Mid-Biennial Budget Amendment Ordinance 10
AGENDA ITEM #
1
CITY OF RENTON, WASHINGTON
ORDINANCE NO. ________
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, ESTABLISHING THE PROPERTY TAX LEVY FOR THE YEAR 2016 FOR GENERAL CITY OPERATIONAL PURPOSES IN THE AMOUNT OF $37,214,072.
WHEREAS, the Council has met and considered its budget for the fiscal year 2016; and
WHEREAS, the Council, after hearing and considering all relevant evidence and
testimony presented, determined that, in order to discharge the expected expenses and
obligations of the City and in its best interest, the City of Renton requires a regular levy in the
amount of $37,214,072 for 2016;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The regular property tax levy is hereby authorized for 2016 in the amount
of $37,214,072.
This amount includes: $357,617 or 1% in amounts authorized by the levy growth limit
factor over the maximum allowable levy in 2015. In addition, the 2016 levy amount will also
include additional revenue resulting from partial correction of 2013 levy error in the amount of
$619,061; new construction and improvements to property in the amount of $397,414; re‐levy
of prior year refunds in the amount of $76,928; adjustments as a result of annexations that
have occurred in the amount of $1,322; and any increase in the value of state‐assessed
property.
SECTION II. The regular levy includes levy for the Firemen’s Pension at the rate of
$0.225 per $1,000 assessed valuation.
2016 Property Tax Budget Ordinance 11
AGENDA ITEM #
ORDINANCE NO. _________
2
SECTION III. This ordinance shall be effective upon its passage, approval, and five (5)
days after publication.
PASSED BY THE CITY COUNCIL this _______ day of ___________________, 2015.
Jason A. Seth, City Clerk APPROVED BY THE MAYOR this _______ day of _____________________, 2015.
Denis Law, Mayor
Approved as to form: Lawrence J. Warren, City Attorney
Date of Publication:
ORD:1886:10/5/15:scr
2016 Property Tax Budget Ordinance 12
AGENDA ITEM #
1
CITY OF RENTON, WASHINGTON
ORDINANCE NO. ________
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE PROPERTY TAX LEVY FOR THE YEAR 2016.
WHEREAS, the City Council has properly given notice of the public hearing to consider
the City’s 2015‐16 proposed budget pursuant to RCW 84.55.120; and
WHEREAS, the City Council, after hearing and after duly considering all relevant
evidence and testimony presented, has determined that there is a need to increase the
property tax revenues from the prior year, in addition to the increases resulting from
annexations, the addition of new construction, and improvements to property, and any
increases in the value of state‐assessed property, in order to discharge the expected expenses
and obligations of the City; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The regular property tax levy total of $36,739,730 is hereby authorized
for 2016. The Levy consists of:
2015 Base Levy: $35,761,730
1% growth limit in the amount of $357,617;
New annexation levy in the amount of $1,322;
2013 levy error correction in the amount of $619,061
This is an increase of $262,203 or 0.72% over the 2015 actual levy of $36,477,527.
Exhibit A shows the calculation of the change.
2016 Property Tax Levy Ordinance 13
AGENDA ITEM #
ORDINANCE NO. _________
2
The above levy does not include increase resulting from the addition of new
construction, improvements to property, any increase in the value of state‐assessed property,
and amounts re‐levied due to omits or administrative refunds. The amount of new
construction and prior year refunds are $397,414 and $76,928, respectively. Therefore the
total 2016 property tax levy will be $37,214,072.
SECTION II. This ordinance shall be effective upon its passage, approval, and five (5)
days after publication.
PASSED BY THE CITY COUNCIL this _______ day of ___________________, 2015.
Jason Seth, City Clerk APPROVED BY THE MAYOR this _______ day of _____________________, 2015.
Denis Law, Mayor
Approved as to form: Lawrence J. Warren, City Attorney
Date of Publication:
ORD:1780:10/30/12:scr
2016 Property Tax Levy Ordinance 14
AGENDA ITEM #
ORDINANCE NO. _________
3
Exhibit A:
Calculation of Percentage Increase
Items
2016 Proposed
Levy
2015 Actual
Levy
2015 Base Levy 35,761,730$ 35,761,730$
1% Adjustment (on Base Levy only 357,617 in above
Annexation 1,322 in above
Levy Correction: 2013 Error 619,061 611,995
Relevy Pror Year Refunds/Omitts * 103,802
2016 Levy Base/2015 Actual Levy 36,739,730$ 36,477,527$
% Increase over Last Year Actual 0.72%
Levy Excluded in "% Increase" Calculation
New Construction/Improvements 397,414
* Relevy Prior Year Refunds/Omitts 76,928
Subtotal of New Construction/Refunds 474,342$
Total Proposed 2016 Levy 37,214,072$
* Relevy of prior year refunds/omitts are not included in the "increase"
calculation as the amount was part of prior year levy but never collected.
2016 Property Tax Levy Ordinance 15
AGENDA ITEM #
1
CITY OF RENTON, WASHINGTON
ORDINANCE NO. _________
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, RELATING TO THE REGULAR PROPERTY TAX LEVIES FOR COLLECTION IN 2016, IMPLEMENTING RCW 84.55.0101 AND FINDING SUBSTANTIAL NEED TO INCREASE THE REGULAR PROPERTY TAX LIMIT FACTOR ABOVE THE RATE OF INFLATION TO ONE PERCENT (1%), FOR A TOTAL LIMIT FACTOR OF ONE HUNDRED AND ONE PERCENT (101%).
WHEREAS, Chapter 84.55 RCW establishes the “Limitations Upon Regular Property
Taxes” which all taxing jurisdictions must use in calculating the amount of regular property tax
levy which may be levied to provide governmental services; and
WHEREAS, the limitation is generally restricted to a “limit factor”, which is equal to the
lower of one percent (1%) or inflation. Inflation is measured as the percentage change in the
“implicit price deflator” (IPD) as published for the most recent twelve (12)‐month period by the
Federal Department of Commerce in September of the year before the taxes are payable; and
WHEREAS, the September 2015 IPD is two hundred fifty‐one thousandths percent
(0.251%), therefore, the City’s 2016 Property Tax levy would be one hundred and two hundred
fifty‐one thousandths percent (100.251%) of the regular property taxes levied by the City in
2015, together with certain increase in assessed valuations as set forth by law; and
WHEREAS, notwithstanding the foregoing general limitations, RCW 84.55.0101 permits
the City to adopt, as a limit factor, a percentage increase up to one hundred and one percent
(101%) provided the Council enters a finding of substantial need and approves the increased
limit factor by affirmative vote of a majority plus one vote; and
2016 Property Tax Substantial Need Ordinance 16
AGENDA ITEM #
ORDINANCE NO. _________
2
WHEREAS, the City continues to face costs associated with labor contracts, benefits, and
professional services increasing at a faster rate than the City’s primary recurring revenue
sources; and
WHEREAS, the Council has held a public hearing regarding the 2015/2016 Mid‐Biennium
Budget Adjustment which included consideration of revenue sources for anticipated current
expense to provide City services, and possible increases in property tax revenues; and
WHEREAS, the Council has considered the effect of increasing the tax levy and the
increased service demands from those in need; and
WHEREAS, based on the above findings, the Council finds that a substantial need exists
to set the property tax limit factor at one hundred and one percent (101%) of the 2015
property tax levy;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The above findings are true and correct in all aspects and substantial
need exists for the City Council needs to levy 2016 property tax at one hundred and one
percent (101%) of the property tax levied for 2015, pursuant to RCW 84.55.0101, to produce
revenues sufficient to meet 2016 expenses.
SECTION II. This ordinance has been passed by the affirmative vote of at least a
majority plus one of the whole membership of the Council.
SECTION III. This ordinance shall be effective upon its passage, approval, and thirty
(30) days after publication.
PASSED BY THE CITY COUNCIL this _______ day of ___________________, 2015.
2016 Property Tax Substantial Need Ordinance 17
AGENDA ITEM #
ORDINANCE NO. _________
3
Jason A. Seth, City Clerk APPROVED BY THE MAYOR this _______ day of _____________________, 2015.
Denis Law, Mayor
Approved as to form: Lawrence J. Warren, City Attorney
Date of Publication:
ORD:1887:10/5/15:scr
2016 Property Tax Substantial Need Ordinance 18
AGENDA ITEM #
1
CITY OF RENTON, WASHINGTON
RESOLUTION NO. ________
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING INTERFUND LOANS TO FUND 316, MUNICIPAL FACILITIES CAPITAL INVESTMENT FUND, AND TO FUND 108, LEASED CITY PROPERTIES FUND, FOR PROPERTY ACQUISITION AND IMPROVEMENT PURPOSES.
WHEREAS, the Council adopted Resolution No. 3811 authorizing interfund loans
between City funds under certain conditions and circumstances; and
WHEREAS, Fund 316, Municipal Facilities Capital Investment Fund, is in need of a
temporary loan for the acquisition of property for future parks and community facility needs;
and
WHEREAS, the City’s Water Utility, Fund 405, and Wastewater Utility, Fund 406, have
been accumulating funds for future capital projects, part of which are available on an interim
basis, and are available to lend to Fund 316 at current market interest rates; and
WHEREAS, Leased City Properties, Fund 108, is in need of a temporary loan to fund
improvements at the 200 Mill Building; and
WHEREAS, Leased City Properties, Fund 108, is managed and reported as part of the
City’s General Fund; and
WHEREAS, the City has been accumulating reserve funds in accordance with its Financial
Policies in its Insurance Fund, Fund 502, through transfer from its General Fund. Part of the
reserve funds is available on a temporary basis;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
RESOLVE AS FOLLOWS:
SECTION I. The above recitals are found to be true and correct in all respects.
Fund 316 and 108 Interfund Loan Resolution 19
AGENDA ITEM #
RESOLUTION NO. _______
2
SECTION II. The Council authorizes an interfund loan in the amount of four million
dollars ($4,000,000) to Fund 316 from the City’s Water Utility (Fund 405) and Wastewater
Utility (Fund 406) funds, over a period not to exceed four (4) years from the effective date. The
interfund loan will be effective on or about December 1, 2015, and shall bear interest at one
point sixty‐five percent (1.65%) per annum until paid.
SECTION III. The Council further authorizes an interfund loan in the amount of eight
hundred seventy‐five thousand dollars ($875,000) to Fund 108. The interfund loan will be
effective November 1, 2015, and will be repaid no later than five (5) years without interest.
PASSED BY THE CITY COUNCIL this ______ day of _______________________, 2015.
______________________________ Jason A. Seth, City Clerk
APPROVED BY THE MAYOR this ______ day of _______________________, 2015.
______________________________ Denis Law, Mayor
Approved as to form: ______________________________ Lawrence J. Warren, City Attorney
RES.1684:10/5/15:scr
Fund 316 and 108 Interfund Loan Resolution 20
AGENDA ITEM #
Amortization 316 from 405
Amortization TableRES
Loan Info Loan Summary
Loan Amount 2,500,000.00 Scheduled Payment 650,992.19
Annual Interest rate 1.65% Number of scheduled payments 4
Term 4 Actual Number of Payments
Number of Payments/Yr 1 Total Early Payments ‐
Start date 12/1/2015 Total Interest 103,968.77
Pmt No.
Payment
Date
Beginning
Balance
Scheduled
Payment
Extra
Paymt
Total
Payment Principal Interest Ending Balance
1 12/1/2016 2,500,000.00 650,992.19 ‐ 650,992.19 609,742.19 41,250.00 1,890,257.81
2 12/1/2017 1,890,257.81 650,992.19 ‐ 650,992.19 619,802.94 31,189.25 1,270,454.87
3 12/1/2018 1,270,454.87 650,992.19 ‐ 650,992.19 630,029.69 20,962.51 640,425.18
4 12/1/2019 640,425.18 650,992.19 ‐ 650,992.19 640,425.18 10,567.02 ‐
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2,500,000.00 103,968.77
Fund 316 and 108 Interfund Loan Resolution 21
AGENDA ITEM #
Amortization 316 from 406
Amortization TableRES
Loan Info Loan Summary
Loan Amount 1,500,000.00 Scheduled Payment 390,595.32
Annual Interest rate 1.65% Number of scheduled payments 4
Term 4 Actual Number of Payments
Number of Payments/Yr 1 Total Early Payments ‐
Start date 12/1/2015 Total Interest 62,381.26
Pmt No.
Payment
Date
Beginning
Balance
Scheduled
Payment
Extra
Paymt
Total
Payment Principal Interest Ending Balance
1 12/1/2016 1,500,000.00 390,595.32 ‐ 390,595.32 365,845.32 24,750.00 1,134,154.68
2 12/1/2017 1,134,154.68 390,595.32 ‐ 390,595.32 371,881.76 18,713.55 762,272.92
3 12/1/2018 762,272.92 390,595.32 ‐ 390,595.32 378,017.81 12,577.50 384,255.11
4 12/1/2019 384,255.11 390,595.32 ‐ 390,595.32 384,255.11 6,340.21 ‐
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1,500,000.00 62,381.26
Fund 316 and 108 Interfund Loan Resolution 22
AGENDA ITEM #
Amortization 108 from 502
Amortization TableRES
Loan Info Loan Summary
Loan Amount 875,000.00 Scheduled Payment 175,000.00
Annual Interest rate 0.00% * Number of scheduled payments 5
Term 5 Actual Number of Payments
Number of Payments/Yr 1 Total Early Payments ‐
Start date 11/1/2015 Total Interest ‐
Pmt No.
Payment
Date
Beginning
Balance
Scheduled
Payment
Extra
Paymt
Total
Payment Principal Interest Ending Balance
1 11/1/2016 875,000.00 175,000.00 ‐ 175,000.00 175,000.00 ‐ 700,000.00
2 11/1/2017 700,000.00 175,000.00 ‐ 175,000.00 175,000.00 ‐ 525,000.00
3 11/1/2018 525,000.00 175,000.00 ‐ 175,000.00 175,000.00 ‐ 350,000.00
4 11/1/2019 350,000.00 175,000.00 ‐ 175,000.00 175,000.00 ‐ 175,000.00
5 11/1/2020 175,000.00 175,000.00 175,000.00 175,000.00 ‐ ‐
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875,000.00 ‐
* Per BARS 3.9.1.20 interest should be charged on interfund loans, unless the borrowing fund is normally funded by the
lending fund. Fund 108 is a management fund of the General Fund and we are borrowing from General Fund reserves held in
the Insurance Fund, therefore, interest is not required.
Fund 316 and 108 Interfund Loan Resolution 23
AGENDA ITEM #