Cash and Investments at February 28, 2019

Cash                  $1,399,639 

Investments      $10,280,858

Comprised of:

• $7.8 million – State of Washington Local Government Investment Pool

• $2.5 million – Snohomish County Investment Pool

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. The inception to date unrealized loss is $16,524 for the pool as of December 31, 2018.   

Calendar Year Operations through February 28, 2019

Revenues – Actual revenues District-wide are 12.3% above projections at 29.0% with 16.7% of the year elapsed. This is typical of this time of year, as we receive 50% of the annual budgeted State Public Health Funding in January as well as the billing of the annual food establish permits in the same month. The software upgrade issues that prevented billing of grant contracts was not resolved until mid-April so revenue is understated as of February 28. A large part of those unbilled revenues are comprised of 1^st Quarter 2019 Department of Health Consolidated Contract (“ConCon”) billing to be completed no later than April 30, 2019. The ConCon primarily affects the Prevention Services Division and PHEPR Fund.

Expenditures – Actual expenditures District-wide are 1.1% above projections at 17.8% with 16.7% of the year elapsed. In Administration, the overage is partially due to the delay in implementation of the finance software upgrade from 2017 into January of 2019. This delay was not known at the time of the 2019 budget development.

Fund Balance

SHD’s Fund Balance is comprised of the following amounts as of February 28, 2019:

Non-spendable items are comprised of Vital Statistics Fees due to the State of Washington that are remitted quarterly and some payroll-related accruals.

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