Cash and Investments at April 30, 2020
Cash $305,961
Investments $11,270,810
Comprised of:
Unrealized Gain or Loss on Investments
At the end of each year, Snohomish County provides the District with an analysis of unrealized gain or loss for the County’s investment pool. The inception to date unrealized gain is $8,457 for the pool as of December 31, 2019.
Calendar Year Operations through April 30, 2020
Revenues – Actual revenues District-wide are 13.2% above projections at 46.5% with 33.3% of the year elapsed. This can be seen in the high percentages of actuals to budget in Licenses & Permits and State Grants. This is typical of this time of year, as we receive 50% of the annual budgeted state Public Health Funding in January as well as the billing of the annual food establish permits in the same month. In addition, we received an unbudgeted $109,341 from the Community Foundation of Snohomish County Coronavirus Response Fund, which is intended to cover the original mobile testing site costs and food for volunteers and staff during the response that cannot be covered by other funding. That revenue is included in Miscellaneous Revenues in the Agency-wide section of the report (see Exhibit A - Chart A).
Expenditures – Actual expenditures District-wide are 2.1% above projections at 35.4% with 33.3% of the year elapsed. Explanations for significant variances are shown in Exhibit A - Chart B.
Fund Balance
SHD’s General Fund Balance is comprised of the following amounts as of April 30, 2020:
|
Fund Balance
|
|
|
|
Non-Spendable
|
$0
|
|
Board-Approved Reserves:
|
|
|
Working Capital
|
2,094,251
|
|
Compensated Absences
|
1,700,000
|
|
Capital Improvements
|
70,000
|
|
Emergency
|
0
|
|
Rucker Building - Reserve from 2015 Water Damage
|
134,822
|
|
Unreserved
|
6,112,181
|
|
Total Fund Balance
|
$10,111,254
|
Non-spendable items are comprised of Vital Statistics Fees due to the State of Washington that are remitted quarterly and some payroll-related accruals. The Vital Statistics Fees for April of $44,381 were inadvertently posted to May 2020. This will be corrected in subsequent reports.
Pursuant to Board Resolution 20-06 Declaration of Emergency in March, the Emergency Fund of $500,000 was transferred to Unreserved Funds.