Oh two of us are here we can get started.

Well give it one more second.

Limit extra if we want to log off.

I don't see her on the list now.

Okay.

Well, Kisha is here, so uh I'm gonna call the meeting to order.

Today is August 18.

We're gonna call the finance committee meeting to order one pm.

We have uh Tisha here to take us through our Zoom's financial report.

Thank you.

Um committee chair.

Um looking at our June monthly report, um, I will kind of take the stance of going through it through the beginning to the end again and picking out some highlights and giving a little more detail on pieces that I feel like would be of interest to council and the public.

Um as noted in the highlights, we are up 200 for sales tax.

We are up 283,000 year to date for budget and over 4.8 percent over same time last year.

I know the mayor shared with you, I believe it was either early, it was last week, time flies, um that we were up seven percent year to date, and those were actually July numbers, so we're still looking at June.

So that's the discrepancy in those numbers.

Um our salaries and benefits, looking specifically at our general operating fund.

We are 1.2 million below where we would plan to be for budget year to date, and behind last year, same time last year by 226,000.

So um seeing labor savings both to what we planned to spend, but also to how we did last year.

So good um, I mean shouldn't say always good news because having appropriate staffing is important, but it is a cost savings.

Looking citywide across all funds, including our general operating fund, uh the city is 2.4,000, excuse me, 2.4 million below budget um uh for year to date and behind last year 200, excuse me, 87,000 to same time last year.

Digging into our tax revenues overall, we're at 53% of budget year to date, with sales tax representing at 52% of budget, so just a bit ahead of what we would have expected.

Property taxes are also showing a bit ahead of what we expected at 53%, and our other utility taxes, which includes our utility tax, excuse me, our other taxes, which includes our utility tax is at 53%.

So all three of those main tax revenues are trending a bit ahead.

Looking at our other revenue categories, licenses and permits are up at six 59%.

This is mainly due to specifically our construction permits coming in at 261% ahead of budget with an additional 65,000 over the 100% budget, and we are only 50% through the year.

Um intergovernmental revenues is slightly down to where we would expect, and that's basically looks like primarily due to a number of grants being not received yet, and I'll be um speaking with our departments who are those expecting those grants to find out if there's any concern with that revenue, or if there's um or if that's just something we'll expect later in the year, but some uh we have a number of grants that are showing at a hundred at zero percent.

Um, I know we said last month that we had only received 25% of our year-to-date liquor and marijuana excise taxes.

This month we are at 100% year to date.

So um I think it's more of a timing thing on this piece, and I'm not sure if we would expect any additional revenue on that later this year, but we'll continue to look at that.

Charges for goods and services are at 58%, so ahead of budget.

Um primarily looking at building plan reviews at a full 119% of our full budget for the year.

So we're 222,000 over budget year to date in a good way over budget with revenues.

And we're also seeing um a good increase in our charges for parks at 69% of our anticipated revenue for the year, and that would put that puts us at 112,000 ahead of budget.

I would expect that some of that is due to the um fees that we see coming in in the summertime for our parks with um and the programs that we are running.

So I'm not sure that that will be a year-end trend in that case.

Our fines and penalties are at 49%, just a little under budget.

So far, the the pieces that I can put together of where we're behind on that is we're a little bit down for what we anticipated for automated enforcement.

We're sitting at 48% year to date for this year.

And then for traffic infractions and penalties, we're only showing 27.5% of the budgeted amount so far this year.

And then just a note, other financing shows at zero, that 50,000 is an interfund transfer that just has not been chosen, has not been taken yet.

Moving to page five and looking at the general operating fund 001 and specifically looking at where we're at with our revenues in comparison to our expenditures.

Budgeted for year to date, we we should have our revenues exceeding our expenditures by 74,000.

Actual year to date, when we look at the difference between our revenues and expenditures, we're at 3.2 million.

So that would put us ahead of what we would anticipate of that, what would be going into our fund balance and our cash reserves by 3.1 million year to date now.

And that's due to the increase in revenues that we talked about.

And then we'll look a little bit at uh obviously we spoke about staffing expenditures being down, and we'll look at some of the other expenditures later, but that's primarily what's driving that at this time.

Looking at page six, our expenditures for the general fund 001 by department.

Um overall, the the general fund is at 48% for our expenditures, so just slightly behind what we would anticipate for the year.

Um we spoke about this last month, and I don't know that this will change, but I will reiterate the perp, the reason administrative services, which is finance, is at 55%, and that is due to additional unplanned contract services due to needing to fill in for the leave of director gold, as well as um some temporary labor help that we had for other leaves and audit support.

Non-departmental as well is um showing a little high.

This is more patterning based off of when bills come in and um that our WCIA coming in at the beginning of the year in January, and that bill being fully paid and slightly more than budgeted by 91,000 contributes to this.

We've also fully paid our Puget Sound Clean Air Agency payment as and that came in a little bit over budget by 7,000, and we had um some election expenses that we didn't have in the budget by 13,000.

So that's kind of what's sitting in that demo non-departmental piece.

Um, the community services and economic development is um is a correction we have completed, however, it will not show up until the July report.

That department um is an old department for where we, you know, our community services and economic development, and as you know, that that originally had had our city administrator in there as well as um our community services, community services is moved to planning and development, and now city administrator has their own department.

So once these corrections come through, that will um remedy itself, those expenses just needed to get moved to the proper areas, and it's just a coding transition.

Um looking to page seven and the revenue chart.

Uh, we have added a specific note here, but just wanted to explain that the budget trend line, the black line is derived from the cash incurred in 2025, and it does include the um receipt of the interfund loan in January and February of 2025.

So that does create a patterning that would not be typical.