| | | | | | | |  | BOARD OF HEALTH STAFF REPORT (SR 22-006)
March 8, 2022
Written Reports |
|
| | | | | | | | | Finance Manager's Report for November 2021 (SR 22-006; S. Centanni) |
|
| | | | | | | | | Division: | | Administration / Sara Centanni, CPA, Finance Manager |
|
| | | | | | | | | Prior Board Review: | | Administration Committee, 2/23/22 |
|
| | | | | | | | | 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
|
|
|
|
Non-Spendable
|
$60,546
|
|
Board-Approved Reserves:
|
|
|
Working Capital
|
4,697,530
|
|
Compensated Absences
|
1,417,000
|
|
Capital Improvements
|
70,000
|
|
Emergency
|
500,000
|
|
Rucker Building - Reserve from 2015 Water Damage
|
134,822
|
|
Estimated Programmatic Restricted Funds
|
0
|
|
Unreserved
|
11,238,082
|
|
Total Fund Balance
|
$18,117,980
|
|
|
| | | | | | | | | 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. |
|
|