Cash and Investments at December 31, 2021

Cash     $1,691,443          

Investments $11,426,792

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 December 31, 2021

This is a preliminary report for calendar year 2021. Once the final entries for 2021 are posted over the upcoming weeks, these financials will be updated.

Surplus – The District is reporting a surplus of $6.5 million as of the report date. This is in line with 2^nd 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 5.2% below projections at 94.8% with 100.0% of the year elapsed. This is due, in part, to a lag in the FEMA/CARES funding billings. Revenues are expected to increase over the upcoming weeks as final billings are posted.

Expenditures – Actual expenditures District-wide are 4.2% below projections at 95.8% with 100.0% of the year elapsed. We expect this number will increase slightly as final invoices for 2021 are received and paid.

Fund Balance

The District’s General Fund Balance is comprised of the following amounts as of December 31, 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.