2021 Budget
COVID-19 activities and COLAs were not included in the approved 2021 budget as details were unknown at the time of the budget development. A 2021 budget amendment is pending, and details will be discussed in a future report.
During budget development, PHEPR programs were moved from Environmental Health to Prevention Services.
COVID-19 Report
Per discussion at the last meeting, the COVID-19 detail page will be provided quarterly in the current form. Non-quarter end reports will be system generated.
Cash and Investments at April 30, 2021
Cash $1,478,624
Investments $10,936,368
Comprised of:
- $8.4 million – State of Washington Local Government Investment Pool
- $2.5 million – Snohomish County Investment Pool
Cash flow continues to be strong despite the increased costs of the COVID-19 response.
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 $24,961 for the pool as of December 31, 2020.
Calendar Year Operations through April 30, 2021
Revenues – Actual revenues District-wide are 40.5% above projections at 73.8% with 33.3% of the year elapsed. This is typical for the first part of a year as Food and other annual EH permits are billed in January and the first half of the State Public Health funding of $1.7M is received.
Approximately $3.5M of unbudgeted COVID-19 billings are included in revenue.
Billing to recover approximately $1M of FEMA-funded costs has not been completed as of the report date as contracts between the District and Snohomish County Department of Emergency Management (DEM) and between DEM and the Washington State Department of Health have not been fully executed. That revenue will be recorded when the contracts are executed and billing is completed. This is the primary reason that COVID-19 revenue lags COVID-19 expenditures.
Expenditures – Actual expenditures District-wide are 24.9% above projections at 58.2% with 33.3% of the year elapsed. Many dues and membership fees such as NACCHO & software licenses are paid annually in January. Additionally, the prepaid cost of general insurance at December 31, 2020 for January to August 2021 was reversed and recorded as expenditures.
Approximately $4.6M of unbudgeted COVID-19 expenditures are included in expenditures, including significant costs for temporary services (in professional services), rents & leases, and supplies. A number of COVID-19 programs cannot recover overhead via an applied indirect rate, however actual overhead can be recovered by direct billing those costs, primarily labor. Those programs have had the overhead allocation removed. This can change as funding changes and is dependent on the funding source.
Fund Balance
SHD’s General Fund Balance is comprised of the following amounts as of April 30, 2021.
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Fund Balance
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Non-Spendable
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$62,569
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Board-Approved Reserves:
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Working Capital
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1,991,048
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Compensated Absences
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1,417,000
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Capital Improvements
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70,000
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Emergency
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500,000
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Rucker Building - Reserve from 2015 Water Damage
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134,822
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Estimated Programmatic Restricted Funds
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1,930,252
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Unreserved
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8,170,198
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Total Fund Balance
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$14,275,889
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Restricted Programmatic Funds carried over from 2020 are included in the financial statements. These amounts will be updated for year-end closing totals in the May report.