Cash and Investments at December 31, 2018
Cash $1,767,798
Investments $8,268,697
Comprised of:
Unrealized Gain or Loss on Investments ($16,524)
At the end of each year, Snohomish County provides the District with an analysis of unrealized gain or loss for the County’s investment pool. As part of our year-end closing process, we adjusted the inception-to-date unrealized loss from $15,512 to $16,524 for the pool as of December 31, 2018.
Calendar Year Operations through December 31, 2018
The District is closing the year on track with the 2018 budget. We estimate a surplus of approximately $1.1 million at year-end. District staff are evaluating the various reasons for the surplus as there are many of moving parts. The surplus includes the following:
-
$111,537 – unspent Kresge Grant funds received in advance to be reserved for use in 2019
-
$138,500 – unspent North Sound Accountable Communities of Health funds received in advance to be reserved for use in 2019
-
$134,822 – unspent insurance proceeds for Rucker Building water damage in 2015 to be reserved for future repairs/improvements in that specific area of the building.
Revenues – Actual revenues District-wide are 1.2% above projections at 101.2% with 100% of the year elapsed.
|
Administration
|
100.98% of budget
|
|
Prevention
|
123.40% of budget
|
|
Environmental Health
|
88.41% of budget
|
|
PHEPR
|
83.85% of budget
|
Expenditures – Actual expenditures District-wide are 4.0% below projections at 96.0% with 100% of the year elapsed.
|
Administration
|
97.36% of budget
|
|
Prevention
|
95.77% of budget
|
|
Environmental Health
|
98.38% of budget
|
|
PHEPR
|
73.51% of budget
|
Fund Balance
SHD’s General Fund Balance is comprised of the following amounts as of December 31, 2018:
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Fund Balance
|
|
|
|
Non-Spendable
|
$50,714
|
|
Board-Approved Reserves:
|
|
|
Working Capital
|
2,179,243
|
|
Compensated Absences
|
2,000,000
|
|
Capital Improvements
|
0
|
|
Emergency
|
500,000
|
|
Kresge Grant
|
111,537
|
|
North Sound ACH
|
138,500
|
|
Rucker Building - Reserve from 2015 Water Damage
|
134,822
|
|
Unreserved
|
4,181,279
|
|
Total Fund Balance
|
$9,296,095
|
Non-spendable items are comprised of Vital Statistics Fees due to the State of Washington that are remitted quarterly and some payroll-related accruals.