| | | | | | | |  | BOARD OF HEALTH STAFF REPORT (SR 22-089)
October 11, 2022
Written Reports |
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| | | | | | | | | Finance Manager's report for June 2022 (SR 22-089; T. Bengtson) |
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| | | | | | | | | Division: | | Administration / Theresa Bengtson, Finance Manager |
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| | | | | | | | | Prior Board Review: | | Administration Committee, 9/28/22 |
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| | | | | | | | | Background | Cash and Investments at June 30, 2022
Cash $ 2,215,656
Investments $16,754,405
Comprised of:
- $14.3 million – State of Washington Local Government Investment Pool
- $2.5 million – Snohomish County Investment Pool
Calendar Year Operations through June 30, 2022
Revenues – Actual revenues District-wide are 10.7% above projections at 60.7% with 50.0% of the year elapsed. Revenues are typically above projections earlier in the year due to Food and other annual EH permits being billed for the year in January.
Expenditures – Actual expenditures District-wide are 1.7% below projections at 51.7% with 50.0% of the year elapsed. This is generally in line with our expectations.
Fund Balance
The District’s General Fund Balance is comprised of the following amounts as of June 30, 2022. The working capital reserve has been adjusted downward by $580K as a result of the approval of the 2022 Budget Amendment 1 by the Board on June 14, 2022. The reserve is calculated as 60 days of budgeted expenditures.
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Fund Balance
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Non-Spendable
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$2,083
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Board-Approved Reserves:
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Working Capital
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4,675,992
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Compensated Absences
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2,238,000
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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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14,732,997
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Total Fund Balance
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$22,353,894
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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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