11-05-2019 Budget Adjustment
Presented by
Chase Donnelly, Accounting Manager
November 5, 2019
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2019/20 Proposed Mid-Biennial Budget Amendment
City Council Meeting
November 5, 2019
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RCW 35a.34.130 –
The legislative authority of a city having adopted the provisions of this chapter shall provide by ordinance for a mid-biennial review and modification of the biennial budget.
Background
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Adopted 2019/2020 Biennial Budget - December 4, 2018
Amended 2019/2020 Biennial Budget
- April 16, 2019
Budget Amendment Presentation At FEDRAC
- October 22, 2019
Background-contined
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1 – Fund Balance Per Council Policy
- Maintain Required Balance
- All Funds within required reserve level
- General Fund - $9.0M
- Street Fund - $0.5M
- Strategic Reserve Fund - $3M
2 – Interfund Loans
- PAEC Operation - $0.50 million (paid back in
this budget adjustment)
- PAEC Construction - $5.0 million (proposed bonding in 2019 w/$550K first debt payment paid for by REET) – will be bonded later this year
3 - Outstanding General Obligation Bonds
- Community Center - $9.9 million
- Target Property - $6.0 million
- SCORE - $12.9 million
- PAEC Capital Project - $5.0 million
Budget Factors
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Proposed Major Changes
in General Fund
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Proposed Major Changes
in General Fund
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Proposed Major Changes
in Non-General Fund
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Proposed Major Changes
in Non-General Fund
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Questions?
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PAEC Operations Proposed Budget
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