Cash and Investments at September 30, 2021

Cash $1,086,080

Investments $12,564,973

Comprised of:

• $10.1 million – State of Washington Local Government Investment Pool
• $2.5 million – Snohomish County Investment Pool

Cash flow remains strong despite the increased costs of the COVID-19 response.

Calendar Year Operations through September 30, 2021

Surplus – The District is reporting a surplus of $3.1 million as of the report date. This is in line with first amended budget’s expected surplus of $7.8 million expected. Revenue and expenditures continue to change as the pandemic response meetings changing conditions.

Revenues – Actual revenues District-wide are 1.7% below projections at 73.3% with 75.0% of the year elapsed.  This is due to a lag in the FEMA funding billings.

The billing to recover approximately $1.7M of FEMA-funded costs has not been completed as of the report date, but invoices and reviews are in process by Snohomish County Department of Emergency Management (DEM). That revenue will be recorded when the contracts are executed and billing is completed.   

Expenditures – Actual expenditures District-wide are 2.3% above projections at 77.3% with 75.0% of the year elapsed.

Rents and Lease costs already exceed the amended budget amount by approximately $101K (138.0% of budget).  This is a result of ongoing changes in testing & vaccine sites that were not known at the time of the amended budget preparation.

Fund Balance

The District’s General Fund Balance is comprised of the following amounts as of September 30, 2021. 

Consistent with Resolution 19-20 and the revised Division of Responsibilities (10/8/19), the Board of Health has authority over the Health District budget.