| | | | | | | |  | BOARD OF HEALTH STAFF REPORT (SR 22-006) March 8, 2022 Written Reports |
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| | | | | | | | Finance Manager's Report for November 2021 (SR 22-006; S. Centanni) |
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| | | | | | | | Division: | Administration / Sara Centanni, CPA, Finance Manager |
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| | | | | | | | Prior Board Review: | Administration Committee, 2/23/22 |
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| | | | | | | | Background |
Cash and Investments at November 30, 2021
Cash $807,519
Investments $11,366,182
Comprised of:
- $8.9 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 November 30, 2021
Surplus – The District is reporting a surplus of $6.3 million as of the report date. This is in line with 2nd amended budget’s expected surplus of $7.1 million. Revenue and expenditures continue to change with the changing conditions of the pandemic response.
Revenues – Actual revenues District-wide are 6.3% below projections at 85.4% with 91.7% of the year elapsed. This is due, in part, to a lag in the FEMA/CARES funding billings, which started arriving into our bank account in mid-December.
Expenditures – Actual expenditures District-wide are 7.1% below projections at 84.6% with 91.7% of the year elapsed.
Fund Balance
The District’s General Fund Balance is comprised of the following amounts as of November 30, 2021.
Fund Balance
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Non-Spendable
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$60,546
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Board-Approved Reserves:
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Working Capital
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4,697,530
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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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0
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Unreserved
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11,238,082
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Total Fund Balance
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$18,117,980
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| | | | | | | | Board Authority | 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. |
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