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City Council Committees - Operations - 08/07/2012 (3)
• KEN T WASH NOTON Operations Committee Agenda Councilmembers: Dennis Higgins * Jamie Perry * Les Thomas, Chair August 7, 2012 4:00 p.m. Item Description Action Speaker Time Page 1. Approval of Minutes YES 1 Dated July 17, 2012 2. Approval of Check Summary YES Report dated 7/1/12-7/15/12 3. KIVA System Upgrade - Authorize YES Curt Ryser 10 Min 3 Charlene Anderson 4. Limited Tax General Obligation YES Bob Nachlinger 10 Min 32 Bond Refunding Ordinance — Approve 5. June Financial Summary Report NO Bob Nachlinger 5 Min 75 (INFORMATION ONLY) Unless otherwise noted, the Operations Committee meets at 4:00 p.m. on the first and third Tuesday of each month. Council Chambers East, Kent City Hall, 220 4th Avenue South, Kent, 98032-5895. Dates and times are subject to change. For information please contact Pam Clark at (253) 856-5723. Any person requiring a disability accommodation should contact the City Clerk's Office at (253) 856-5725 in advance. For TDD relay service call the Washington Telecommunications Relay Service at 1-800-833-6388. This page intentionally left blank 1 I(✓TS FI IN OTON OPERATIONS COMMITTEE MINUTES July 17, 2012 Committee Members Present: Dana Ralph, Jamie Perry, Dennis Higgins, Chair The meeting was called to order by D. Higgins at 4.02 p.m. 1. APPROVAL OF MINUTES DATED JULY 3, 2012 J. Perry moved to approve the Operations Committee minutes dated July 3, 2012. D. Ralph seconded the motion, which passed 3-0. 2. APPROVAL OF CHECK SUMMARY REPORT DATED JUNE 16 - JUNE 30, 2012 D. Ralph moved to recommend the City Council approve the Check Summary Reports dated June 16 through June 30, 2012. J. Perry seconded the motion, which passed 3-0. 3. RECOMMEND THE MAYOR BE AUTHORIZED TO ENTER INTO AN INTERLOCAL AGREEMENT WITH THE CITY OF MAPLE VALLEY FOR CITY OF KENT JAIL SERVICES WITH TERMS AND CONDITIONS ACCEPTABLE TO THE CITY ATTORNEY. (ADOPT) City Attorney Brubaker commented that the City of Maple Valley does not have a city jail facility. Negotiations between staff of the two cities resulted in the proposed agreement that Maple Valley would be guaranteed at least two jail beds per night on an annual basis at a cost to Maple Valley of $80,300 per year. Additional beds, if needed, would be provided at a rate of $135 per day. Committee Member Ralph inquired what fall back the City of Kent has should our jail facility be full as to not accept Maple Valley inmates beyond the two per night as outlined in the Interlocal agreement. City Attorney Brubaker noted that the City of Kent has a contract with Chelan County to receive overflow inmates should that occur. Committee Chair Higgins commended staff for their innovation and cost effectiveness in reaching agreements with the City of Maple Valley for Jail and Municipal Court services. Motion by J. Perry recommending the City Council authorize the Mayor to enter into an Interlocal agreement with the City of Maple Valley for City of Kent Jail Services for a two-year period. Motion seconded by D. Ralph. Motion passed 3-0. 2 Operations Committee Minutes July 17, 2012 Page: 3 6. LODGING TAX ADVISORY COMMITTEE APPOINTMENTS (APPROVE) Economic Development Manager Kurt Hanson noted that all three appointments to the LTAC are re-appointments for additional three-year terms. All three members, David Kwok, Beth Sylves and John Casey have been excellent committee members that contribute in all aspects. Each of the appointments is very engaged in the Kent community and would serve the City of Kent well for an additional three-year term. Committee Member Perry agreed and went on to note that David Kwok, Owner of the Hampton Inn represents the Hoteliers; John Casey, Attorney with the Curran Law Firm oversees administration of lodging tax funds; and, Beth Sylves from the Showare Center oversees administration of lodging tax funds as well. All three are excellent representatives of our business community. Moved by D. Ralph, seconded by J. Perry, that the City Council approve appointment of Beth Sylves, David Kwok and John Casey to the Lodging Tax Advisory Committee for three-year terms. Motion passed 3-0. The meeting was adjourned at 4:20 p.m. by D. Higgins. Patrick Briggs J Operations Committee Secretary 3 Information Technology Mike Carrington, Director Economic & Community ZKEN T Development WAS„,KGTON Ben Wolters, Director Date: August 7, 2012 To: Operations Committee From: Charlene Anderson, Planning Manager Curt Ryser, IT Systems Manager Through: John Hodgson, Chief Administrative Officer Subject: Kiva/Permit System Hardware and Software Upgrades MOTION: Recommend to City Council authorization for the Mayor to sign all necessary documents to enter into agreements with independence enterprises, inc., Selectron Technologies, Inc., Hewlett-Packard, DLT Solutions and Active Networks required to upgrade the Kiva Permitting System subject to approval of the final terms and conditions by the Information Technology Director and the City Attorney in an amount not to exceed $182,658.17, including applicable state taxes. SUMMARY: Kiva is a mission critical software application that supports all property, permitting, approvals, inspections, code compliance and business licensing tracking. Due to budgetary constraints, the software upgrade is a necessary alternative to the original plan to replace Kiva. This approach should provide a more stable hardware and software environment for three to five years. BUDGET IMPACT: The budget for this project was approved as part of the Information Technology (I.T.) 2012 Technology Plan Budget. EXIBITS: A Consultant Services Agreement between the City of Kent and independence enterprises, Inc. and associated Scope of Work. B Selectron IVR Version 4 Hardware &Software Upgrade Scope of Work and Price Quote. C Hewlett-Packard (HP) Server Hardware Quotes. D DLT Solutions - Oracle Application Server Quote. E Active Networks - Credit Card Processing / Integration Quote 4 BACKGROUND: The decision to upgrade Kiva was made after extensive research was done, including consideration for a phased or basic functionality implementation of the new system, other permit tracking applications & costs, and contacting a consultant and number of Kiva customers currently using the upgraded version of Kiva. The permit system replacement project was initiated in June, 2007, when Project Executive Sponsors, the Executive Steering Committee and Core Team members, project goals and objectives were identified. After an extensive business process analysis and selection process, a new permit system solution and vendor were selected. However, due to the global financial crisis, it was decided to postpone the replacement of Kiva and instead upgrade the existing system to a more recent version as an interim and cost effective solution. The City of Kent implemented the Kiva system in 1999, and in 2001, Kiva was purchased by Accela Automation, Inc. and is generally not supported by the vendor. Therefore, it is necessary to contract with a consultant for the hardware and software upgrades technical services. Business Case for the Kiva Permit System Software Upgrade: The driving business case for the Kiva upgrade is to provide a sustainable permit tracking application and associated hardware platforms for approximately three to five years. The upgrade will allow the City to continue its support of the permitting processes and services that include +/- 5,000 permits & approvals/year, 100 permit types, 20,000+ inspections/year, 4,000 business licenses/year, and 600 code enforcement cases /year. In addition to the City's customers, the following City departments rely on the permit tracking system. • Economic & Community Development: Permit Center, Planning, Land Use, Policy Planning, Plan Review, Inspections and Code Compliance. • Fire: Fire plan review, fire prevention, inspections, code enforcement, request for services, Covington permitting services. • Public Works: Transportation, Utilities, Operations, Grade & Fill, inspections. • Finance: utility billing, cashier's office/customer service, internal and external audit, business licensing and renewals. • Information Technology: Project budgetary sponsor, project management, technical and system application support. The cost breakdown for the Kiva system upgrade includes the following elements: Consulting services for Kiva Software Upgrades ie.inc 20 000.00 IVR Software and Server Upgrade (Selectron Systems) 43 964.25 Kiva Server Hardware Hewlett Packard 18 660.84 Oracle Application Server Enterprise Edition (DLT Solutions 45 190.39 Credit Card Processing Integration Active Network 38 237.40 Contingency 16 605.29 Total 182,658,17 S:\U Projects\Permit Work Order Replacement\Operations_QommiUee\Merno08O72012a.docx 5 Attachment A T CONSULTANT SERVICES AGREEMENT between the City of Kent and [independence enterprises,, Inc.] THIS AGREEMENT is made between the City of Kent, a Washington municipal corporation (hereinafter the "City"), and Independence enterprises, Inc. organized under the laws of the State of Utah, located and doing business at 4381 West Dogwood Lane, Cedar Hills, UT 84062, 801-376-3315 (hereinafter the "Consultant"). I. DESCRIPTION OF WORK. Consultant shall perform the following services for the City in accordance with the following described plans and/or specifications: independence enterprises, Inc. is to act as technical consultants in advising the City of Kent, Washington on upgrading the Kiva software and environment as outlined in Exhibit 1, Scope of Work. Consultant further represents that the services furnished under this Agreement will be performed in accordance with generally accepted professional practices within the Puget Sound region in effect at the time those services are performed. II. TIME OF COMPLETION. The parties agree that work will begin on the tasks described in Section I above immediately upon the effective date of this Agreement. Upon the effective date of this Agreement, Consultant shall complete the work described in Section I no later than March 31., 2013 III. COMPENSATION. A. The City shall pay the Consultant, based on time and materials, an amount not to exceed Twenty Thousand Dollars ($20,000), plus applicable Washington State sales tax, for the services described in this Agreement. This is the maximum amount to be paid under this Agreement for the work described in Section I above, and shall not be exceeded without the prior written authorization of the City in the form of a negotiated and executed amendment to this agreement. The Consultant agrees that the hourly or flat rate charged by it for its services contracted for herein shall remain locked at the negotiated rate(s) for a period of one (1) year from the effective date of this Agreement. The Consultant's billing rates shall be as delineated in Exhibit 1. CONSULTANT SERVICES AGREEMENT- I (Over$10,000) 6 Attachment B. The Consultant shall submit monthly payment invoices to the City for work performed, and a final bill upon completion of all services described in this Agreement. The City shall provide payment within forty-five (45) days of receipt of an invoice. If the City objects to all or any portion of an invoice, it shall notify the Consultant and reserves the option to only pay that portion of the invoice not in dispute. In that event, the parties will Immediately make every effort to settle the disputed portion. IV. INDEPENDENT CONTRACTOR. The parties intend that an Independent Contra ctor-Employer Relationship will be created by this Agreement. By their execution of this Agreement, and in accordance with Ch. 51.08 RCVV/ the parties make the following representations: A. The Consultant has the ability to control and direct the performance and details of its work, the City being interested only in the results obtained under this Agreement. B. The Consultant maintains and pays for its own place of business from which Consultant's services under this Agreement will beperformed. C. The Consultant has an established and independent business that iseligible for a business deduction for federal income tax purposes that existed before the City retained Consultant's services, or the Consultant is engaged in an independently established trade, occupation, profession, or business of the same nature as that involved under this Agreement. D. The Consultant is responsible for filing as they become due all necessary tax documents with appropriate federal and state agencies, including the Internal Revenue Service and the state Department ofRevenue. E. The Consultant has registered its business and established an account with the state Department of Revenue and other state agencies as may be required by Consultant's business, and has obtained a Unified Business Identifier (UBI) number from the State ofWashington. F. The Consultant maintains a set of books dedicated to the mxp000rx and earnings vf its business. V. TERMINATION. Either party may terminate this Agreement, with orwithout cause, Upon providing the other party thirty (30) days written notice at its address set forth on the signature block of this Agreement. After termination, the City may take possession of all records and data within the Consultant's possession pertaining to this project, which may be used by the City without restriction. If the City's use of Consultant's records or data is not related to this project, it shall be without liability or legal exposure to the Consultant. V1. DISCRIMINATION. In the hiring of employees for the performance of work under this Agreement or any subcontract, the Consultant, its subcontractors, or any person acting on behalf ofthe Consultant or, subcontractor shall not, by reason of race, religion, color, sex, age, sexual orientation, national origin, or the presence of any sensory, mental, or physical disability, discriminate against any person who io qualified and available tn perform the work to which the employment relates. Consultant shall execute the attached City of Kent Equal Employment CONSULTANT SERVICES AGREEMENT- I (Jver$1i\00k) 7 Attachment Opportunity Policy Declaration, Comply with City Administrative Policy 1.2, and upon completion of the contract work, file the attached Compliance Statement. VIZ" INDEMNIFICATION, Consultant shall de[end, indemnify and hold the C|ty, its officers, officials, employees, agents arid volunteers harroless frorn any and all claims, injuries, damages, |osuou or suits/ including all legal costs and attorney k:os/ arising out of or in connection with the Consultant's performance of this Agreement, except for that portion of the in]ur|ay and damayes caused by tire City'snegligence. The City's inspecLion or acceptance of any of Consultant's work when completed shall not bc grounds iu avoid any oi these covenants o[indcmnification. Should a court. of competent jurisdiction determine that this Agreement is subject to RCW 4.24,115/ then, in the event of liability for damages arising out ofbodily injury to persons or damages to property caused by or resulting from the concurrent negligence of the Consultant and the City, its officers, officials, employees, agents and volunteers, the Consultant's liability hereunder shall be only tn the extent nf the Consultant's negligence. IT IS FURTHER SPECIFICALLY AND EXPRESSLY UNDERSTOOD THAT THE INDEMNIFICATION PROVIDED HEREIN CONSTITUTES THE CONSULTANT'S WAIVER OF IMMUNITY UNDER INDUSTRIAL INSURANCE, TITLE 51 RCVV/ SOLELY FOR THE PURPOSES OF THIS INDEMNIFICATION. THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE MUTUALLY NEGOTIATED THIS WAIVER. in the event Consultant refuses tender of defense in any suit or any claim, if that tender was made pursuant to this indemnification clause, and if that refusal is subsequently determined by a court having jurisdiction (or other agreed tribunal) to have been a wrongful refusal on the Consultant's part/ then Consultant shall pay all the City'u costs for defense, including all reasonable expert witness fees and reasonable attorneys' fees, plus the Ciiy's legal costs and fees incurred because there was a wrongful refusal on the Consultant's part. The provisions of this section shall survive the expiration or termination of this Agreement. VIII. INSURANCE. The Consultant shall procure and maintain for the duration of the Agreement, insurance of the types and in the amounts described in Exhibit 2 attached and incorporated hy this reference. IX. EXCHANGE OF INFORMATION. The City will provide its best efforts to provide reasonable accuracy of any information supplied by it to Consultant for the purpose of completion of the work under this Agreement. X. OWNERSHIP AND USE OF RECORDS AND DOCUMENTS. Original documents, drawinga, designs, reports, or any other records developed or created under this Agreement shall belong to and become the property of the City. All records submitted by the City to the Consultant will be safeguarded by the Consultant. Consultant shall make such data, documents, and files available tothe City upon the O\y's request. TheCity's use or reuse ofany of the documents, data and files created by Consultant for this project by anyone other than Consultant on any other project shall be without liability or legal exposure to Consultant. XI. CIl[Y'S RIGHT OF INSPECTION. Even though Consultant |oanindependent contractor with the authority to control and direct the performance and details of the work CONSULTANT SERVICES AGREEMENT' J (Over$10,008) 8 Attachment A authorized under this Agreement, the work must meet the approval of the City and shall be subject to the City's general right of inspection to secure satisfactory completion. XII. WORK PERFORMED AT CONSULTANT'S RISK. Consultant shall take all necessary precautions and shall be responsible for the safety of its employees, agents, and subcontractors in the performance of the contract work and shall utilize all protection necessary for that purpose. All work shall be done at Consultant's own risk, and Consultant shall be responsible for any loss of or damage to materials, tools, or other articles used or held for use In connection with the work. XIII. MISCELLANEOUS PROVISIONS. A. Recyclable Materials. Pursuant to Chapter 3.80 of the Kent City Code, the City requires its contractors and consultants to use recycled and recyclable products whenever practicable. A price preference may be available for any designated recycled product. B. Non-Waiver of Breach. The failure of the City to insist upon strict performance of any of the covenants and agreements contained in this Agreement, or to exercise any option conferred by this Agreement in one or more instances shall not be construed to be a waiver or relinquishment of those covenants, agreements or options, and the same shall be and remain in full force and effect. C. Re-solution of Disputes and Governing Law, This Agreement shall be governed by and construed in accordance with the laws of the State of Washington. If the parties are unable to settle any dispute, difference or claim arising from the parties' performance of this Agreement, the exclusive means of resolving that dispute, difference or claim, shall only be by filing suit exclusively under the venue, rules and jurisdiction of the King County Superior Court, King County, Washington, unless the parties agree in writing to an alternative dispute resolution process. In any claim or lawsuit for damages arising from the parties' performance of this Agreement, each party shall pay all its legal costs and attorney's fees incurred in defending or bringing such claim or lawsuit, including all appeals, in addition to any other recovery or award provided by law; provided, however, nothing in this paragraph shall be construed to limit the City's right to indemnification under Section VII of this Agreement. D. Written Notice. All communications regarding this Agreement shall be sent to the parties at the addresses listed on the signature page of the Agreement, unless notified to the contrary. Any written notice hereunder shall become effective three (3) business days after the date of mailing by registered or certified mail, and shall be deemed sufficiently given if sent to the addressee at the address stated in this Agreement or such other address as may be hereafter specified in writing. E. Assignment. Any assignment of this Agreement by either party without the written consent of the non-assigning party shall be void. If the non-assigning party gives its consent to any assignment, the terms of this Agreement shall continue in full force and effect and no further assignment shall be made without additional written consent. F. Modification. No waiver, alteration, or modification of any of the provisions of this Agreement shall be binding unless in writing and signed by a duly authorized representative of the City and Consultant. G. Entire Agreement. The written provisions and terms of this Agreement, together with any Exhibits attached hereto, shall supersede all prior verbal statements of any officer or CONSULTANT SERVICES AGREEMENT- 4 (Over$10,000) g Attachment other representative of the, City, and such statements shall riot be effective or be construed as entering Into or forming a part of or altering in any manner this AgPeenlent. All of the above documents are hereby made a part of this Agreement. However, should any language. ill ally of the Exhibits to this Agreement conflict with any language contained in this Agreement, the terms o[this Agreement shall prevail. H. Compliance with Laws. The Consultant agrees tv comply with all federal, state, and municipal laws, rules, and regulations that are now effective or in the future become applicable to Consultant's business, equipment, and personnel engaged in operations covered by this Agreement ur accruing out of the performance of those. operations. I. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute an original, and all of which will together constitute this one Agreement. IN WITNESS, the parties below execute this Agreement, which shall become effective om the last date entered bm8omx" CONSULTANT: CITY OF KENT: Print Name: �((?Ii "I A013vis Print Name: Suzette Cooke its LAty 141b�d Its -Mayor--, DATE: ditie) NOTICES TO BE SENT TO: NOTICES TO BE SENT TO: CONSULTANT: CITY OF KENT: independence enterprises, Inc. [insert. Name of City Rep. to Receive Notice] ej City of Kent 4381 West Dogwood Lane 220 Fourth Avenue South Cedar Hills, UT 84062 Kent, WA 98032 1 801-376-3315 (telephone) (253) [Insert Phone Number] (telephone) 708-405-4979 (facsimile) (253) [Insert Fax Number] (facsimile) APPROVED AS TO FORM: Kent Law Department CONSULTANT SERVICES AGREEMENT ' S (0vor$10,00o) 10 Attachment A DECLARATION CITY OF KEN`C EQUAL EMPLOYMENT OPPf RTUNITY POLICY The City of Kent is committed to conform to Federal and State laws regarding equal opportunity. As such all contractors, subcontractors and suppliers who perform work with relation to this Agreement shall comply with the regulations of the City's equal employment opportunity policies. The following questions specifically identify the iequirernents the City deems necessary for any contractor, subcontractor or supplier on this specific Agreement to adhere to. An affirmative response is required on all of the following questions for this Agreement to be valid and binding. If any contractor, subcontractor or supplier willfully misrepresents themselves with regard to the directives outlines, it will be considered a breach of contract and it will be at the City's sole determination regarding suspension or termination for all or part of the Agreement; The questions are as follows: 1. I have read the attached City of Kent administrative policy number 1.2. 2. During the time of this Agreement I will not discriminate in employment on the basis of sex, race, color, national origin, age, or the presence of all sensory, mental or physical disability. 3. During the time of this Agreement the prime contractor will provide a written statement to all new employees and subcontractors indicating commitment as an equal opportunity employer. 4. During the time of the Agreement I, the prime contractor, will actively consider hiring and promotion of women and minorities. 5. Before acceptance of this Agreement, an adherence statement will be signed by me, the Prime Contractor, that the Prime Contractor complied with the requirements as set forth above. By signing below, I agree to fulfill the five requirements referenced above. Dated this r C day of f�d�� 20�= By: S t'f- dI) A(WAIS For: t n d te.eoCj�kj I 'O �.�{ er etir es , Title: phs-wf t Date: . r n, EEO COMPLIANCE DOCUMENTS - ?. 11 Attachment A CITY OF SCENT ADMINISTPIATIVE POLICY NUMBER: 1.2 EFFECf1VE DATE: January 1, 1998 SUBJECT: MINORITY AND WOMEN SUPERSEDES: April 1, 1996 CONTRACTORS APPROVED BY Jim White, Mayor POLICY: Equal employment opportunity requirements for the City of Kent will conform to federal and state laws. All contractors, subcontractors, consultants and suppliers of the City must guarantee equal employment opportunity within their organization and, if holding Agreements with the City amounting to $10,000 or more within any given year, must take the following affirmative steps: 1. Provide a written statement to all new employees and subcontractors indicating commitment as an equal opportunity employer. 2. Actively consider for promotion and advancement available minorities and women. Any contractor, subcontractor, consultant or supplier who willfully disregards the City's nondiscrimination and equal opportunity requirements shall be considered in breach of contract and subject to suspension or termination for all or part of the Agreement. Contract Compliance Officers will be appointed by the Directors of Planning, Parks, and Public Works Departments to assume the following duties for their respective departments. 1. Ensuring that contractors, subcontractors, consultants, and suppliers subject to these regulations are familiar with the regulations and the City's equal employment opportunity policy. 2. Monitoring to assure adherence to federal, state and local laws, policies and guidelines. EEO COMPLIANCE DOCUMENTS - 2 12 Attachment A CITY OF KENT EQUAL EMPLOYMENT OPPORTUNITY COMPLIANCE STATEMENT 1-his form shall be filled out AFTER COMPLETION of this project by the Contractor awarded the Agreement. I, the undersigned, a duly represented agent of-1-4„4-p. , / Company, hereby acknowledge and declare that the before-mentioned company was the prime contractor for the Agreement known as`'')1t,1Jdf;r_( Q141'A'Ci that was entered into on the�"1 2L ,Ay )V)f 1- (date), between the firm i represent and the City of Kent. I declare that I complied fully with all of the requirements and obligations as outlined in the City of Kent Administrative Policy 1.2 and the Declaration City of Kent Equal Employment Opportunity Policy that was part of the before-mentioned Agreement. Dated this day of q 20_/1,-. 1 By: A' For: 0of ?d7 d d�cjd C d®�✓e 5 rVC- Title: &j 16bJ Date: ' Le` L/J-- EEO COMPLIANCE DOCUMENTS - :> 13 Attachment A 14 4:581 west dogwood lane, cedar hdl,s, Uf 84062 801-376-3315 Exhibit I Scope of Work City of Kent Washington—Kiva Application Upgrade Date: May 29,2012 It is our pleasure to offer the following proposal to assist you with the upgrade of your Kiva application environment. I. General Description of Activities independence enterprises, me. is to act as technical consultants in advising Kent, Washington on upgrading the Kiva software and environment as outlined below. The actual tasks necessary to perform the upgrades will be done by Kent Washington staff unless otherwise specified. The following tasks will be supported by independence enterprises as part of this proposal: ® Upgrading the current Kiva`Upgrade' environment from Version 7 Release Ito Version 8 Release 2.1 or optionally Version 9 Release 1.2—the upgrade will implement software updates that encompass: o Version 7 Release 2 o Version 8 Release 0 o Version 8 Release 2.1 o Version 9 Release 1.2 (if requested) Any problems encountered during the upgrade activities are to be resolved by Kent,Washington staff with assistance from independence enterprise, Inc, as required, Any scripts modifications that are necessary to ensure a successful upgrade of the Oracle database to accommodate new data integrity constraints introduced as part of the new Kiva software, independence enterprises will provide Kent, Washington with any existing modifications to upgrade scripts applied at other Kiva sites. ® Completing basic operational testing to prepare the upgraded environment for subsequent end-user testing and training; 14 Attachment A ® Developing a final transition plan to migrate the upgraded application software into full production stratus once user testing and training has been completed using the `Upgrade' environment. If. Project Timeline The following is an estimated timeline to complete [his upgrade project. These times are for estimating the length of the project and are ordy rough estimates based on past experience at other Kiva sites. Tasks Days Upgrade test database to 7.2 2 I Jpgrade test database to 8.0 2 Upgrade test database to 8.2.1 2 Upgrade test database to 9.1.2(optional) 2 Modify scripts and procedures throughout Upgrades 5 Test upgrade database I Upgrade production database to8.2.1 (9.1.2 optional) 2 Test production database I Total 17 111. Costs Cost proposals and estimates are based on the standard hourly rate of$130.00 per hour. It is understood that all work done by independence enterprises, Inc. is to be done off site. If, for some reason, on-site work is necessary,travel expenses including airfare, car rental,hotel,and $71.00 per Diem(GSA)will be billed. Time for travel will not be billed, however the per diem will be billed for all on- site and travel days. The following is the cost for off-site assistance. An estimate of hours is provided. Aowever,off-site assistance is proposed at a fixed cost for this project: Item Quantity Cost Off-site assistance to upgrade to 8.2.1 60 hours $7,800 Off-site assistance to upgrade from 8.2.1 to 9.1.2, if 60 hours $7,800 requested General and Professional Liability Insurance as required $1,9.59 by Kent,Washington,due upon contract signing Total off-site assistance 60 hours $17,559 May 8,2012 2 15 Attachment A The following are cost estimates for expenses for on-site visits and are rough estimates base on GSA approved rates and current airfare and car rental rates. Actual costs may vary and will be billed only if an on-site visit is requested: Item Quantity Estimate: Airfare 1-flight $ 350.00 Car Rental/gas per day $ 75.00 Hotel per night $ 137.00 Per Diern per day $ 7L00 Assistance Per day $1,040.00 IV. Assumptions Kent,Washington will: • Ensure that the Oracle database is on a supported version. • Ensure that all Oracle tools, i.e. Oracle Forms Server,Oracle Reports Server, SQL*Plus, Oracle Applications Server,are upgraded to a supported version. • Ensure that all operating systems and hardware platforms are certified by Oracle and Accela. • Acquire all scripts, forms, reports,and any other components that are necessary for the upgnades from the software vendor. Kiva upgrades are incremental and therefore require each upgrade version to be applied incrementally. • Perform all the on-site tasks necessary for all upgrades. • Perform the final testing of the upgraded application environment using the Kiva test database. • Provide remote access to independence enterprises, hue. to the Oracle database server, and all components to the Kiva system. • Provide an export of the current database to he installed on independence enterprises servers at each upgrade level, independence enterprises,Inc.will provide: • Assistance when necessary in a timely manner. • Provide assistance via phone call,email, or web conferencing, whichever is determined to be best for each situation. • If previously agreed upon,travel to Kent, Washington to assist on-site if needed. V. Payment Schedule • The full amount for off-site assistance for the Kiva upgrade will be paid upon execution of an agreement. • Cost of insurance required by Kent, Washington will be billed at the time of contract signing. • On-site expenses and time are billed as they are incurred. May S,2012 3 16 Attachment A ® All invoices are due net within 45 days from the date the invoice is received. Interest will be charged for all invoices past threat an annual interest charge of 24%. All payments are to be made in U.S. fiends. VI. Gencral Notes 1. The client is responsible for expenses incurred at the client's site. They include,but are not limited to, air and ground transportation, lodging, and per diem (USA rate). All expenses will be reimbursed as submitted fi•om aein al receipts. 2. All scripts and procedures not part of the original Accela upgrade routines are and will remain the property independence enterprises, Inc. 3. This project is governed by any licensing agreements currently in affect between Accela and Kent, Washington at the time services are performed. 4. independence enterprises does not guarantee the performance or functionality of any lorm or report that is delivered as part of the licensing agreement between Accela and Kent, Washington, VII. Terms of Agreement • This agreement shall commence on the date of execution indicated herein and terminate upon completion of the upgrade activities set forth in Section 1 of this agreement. VIII. Attorney's Fees • In the event any litigation or controversy arises out of or in connection with this Agreement between the parties hereto, Kent, Washington shall bear all attorney's fees and costs. IN. Governing Law and Venue. • This Agreement shall be construed and enforced in accordance with the laws of the State of Utah. The parties further agree that in any dispute between them relating to this Agreement,exclusive jurisdiction shall be in the trial courts located in the State of Utah, any objections as to jurisdiction or venue in such courts being expressly waived. X. Assignability • This contract may be transferred, assigned or sold by independent enterprises, ine. only with the express written consent of the City Kent, Washington. Xi. Licensing and insurance • independence enterprises me. is fully licensed and insured as required by the governing laws of the State of Utah. Additional insurance required by Kent, Washington will be billed under this agreement at actual cost of insurance. May 8, 2012 4 17 Attachment A City of Kent Washington —Kivaa Application Up rade JqN AGREEMENT ACCEPTANCE Stephen W Aoberts, President Date independence enterprises, Inc. City of Kent, Washington Date May 8,2012 5 18 Attachment A Exhibit 2 Certificate of Insurance Attached is a copy of the Certificate of Insurance for General Liability and Professional Liability,as required. Please note that no automobiles are to be used in connection with this contract and therefore Automobile Liability insurance is not provided.Also,I am the sole employee of independence enterprises, Inc.and therefore am exempt from Workers Compensation Insurance. 19 Attachment A INDPE-1 Oh'ID:JN CERTIFICATE OF LIABILITY INSURANCE LWAWNIMVW�-- -__.____�..__w_n_._. ._.._...---_. ___ _ _OLDER. TIiIS CERTIFICATE IS ISSUED AS A—MATTER—OF INFORMACION ONLY AND CONFERS NO RIGFITS UPON THE CERTIFICATE HOLDER.THIS - CER7'IFICAIE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW, THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURERIS), AUTHORIZED REPRESENTATIVE OR PRODUCER,AI4D THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED,the policy(ios)must hr..endorsed. If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement. A statement On this certificate does not,comes rights to the _gertllicafe holder in lieu of such end erae Mont NT (sj. - , PROWLER 801-374-I444 NAMEACT JAMIE NIELSEN Strategic Insurance Agency LLC 801.374.7447 PHONE .AU1-37A-7A44 Ppx 807 East Pacific Drive Suite A Imo No;II01-374.7447 American Fork,UT 04003 nooa[ss:JAMIE@STRATEGICINSURE.NET Brooks Houghton '- WWRERIa)AFFOROINGCOVERRGE____. NAICR INSURER A:Hartford Insurance —_ IN$UREO Independence Enterprises Inc. INSURER B. 4381 Dogwood Lane INSURER 0, Cedar Hills,UT 84062 INSURER D; INSURER E: INSURER P- _ COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CON TRACI"OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES,LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ISUN TYPEOFIN$URARCE _ POLICY NUMBER ANPDYEYtiY MMILD"C YYY LIMITS GENERAL DARNITY EACH OCCURR=NOE $ 2,000,000 A x COMMERCIAL GENERAL LIABILITY x 343BPM4967 05/29112 DS129M3 PREMAI ly $ 300,000 CIAIMS MADE OCCUR MOD EXP(Mywc Wrl,,) A 10,00 PERSONAL A AOV INJURY $ 2,000,00 UENE M-AOEREDAD D 4,000,00 GENL AGGREGATE LIMIT APPLIES PER PROOUOTS-COMPIOP AGO $ 4,000,000 POLICY PRO 'LOC $ AUTOMOBILE LIABILITY IC�ONI deOl&INGLE UMfi ANY AUTO BOOI YILN'JURY(Pa-paxon) $ NI.ONINELI SCHEOULEO 60DILY INJURY(Per Ac?oI nu;£ MOTE AUTOS N'ONAWNEO PROPE(ITY DAMAF` HIRED A $ IROS AUTOS Per rctlen $ UMBRELLA Lea OCCUR EACHOCCURRENCE $ EXCESS Use CLAId"AD.F11 _AGGREGATE E DED RETENTION$ $ WORKERS COMPENSATION VJI:ATATm eTib AND EMPLOYERS'LIABILITY YIN 'TORY LIMITS . ER ANY PROPRIETORPARTNERtEXECUTIYE I—I NIA' . EL EACHA%IDENT I$ OFFICENMAEMBEft E%C'-WEDi LEI (Meetly In NH) E.L.DISEASE-EA EMPLOYEE I$ i(yYes,EooaYw WldBr DESCRIPTION OF OPERATIONS haloes E.LOISEASE POL10YUMIT S A HARTFORD INSURANCE x 34SEPM4967 06l29112 06129/13 E&O 1,000,00 OE6CNPRON CF OPERATIONBI LOCpTION9IVEHICLEa PNee4 ACOR0101,ptltlnlanol RePnda SeM1etlule,IP lnnre spaoo isroqulretll CITY OF KENT IB NAND AS AD➢ITIONAL INSURED, CERTIFI ATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES HE CANCELLED BEFORE TIFF. EXPIRATION DATE THEREOF, NOTICE. WILL BE DELIVERED IN CITY OF KENT ACCORDANCE WITH THE POLICY PROVISIONS. INFORMATION TECHNOLOGY DEPT 220 4TH AVENUE SOUTH AUTHORIZED REPRESENTATIVE KENT,WA 9BO32 Jyµvtku qg'„' ©1986-2010 ACORD CORPORATION. All rights reserved. ACORD 28(2010106) The ACORD name and logo are registered marks of ACORD 20 ^�w war Attachment B sS e l ect ro n Quote W2546C i. April 20,2012. Quote valid ror 90 days. The City of Kent, WA VaicePermits°"° Interactive Voice Response Salse Solution —Version 4 Upgrade Software Licensing for S Voice Forts No Charge Server Hardware and Setup $14,000 HIP Proliant MIL 350G6-upgraded Server • Microsoft Windows 2008 Server,32 Bit 9 Intel Xeon Dual-Core 2_0 GHx Processor • 4 GB RAM • Three 13;) Hard Drives(RAID 5) • IDVD 910M, 56K Modem • hardware for right(8) Voice Ports • Integrated Gigabit Network adapter • Redundant Hot Plug Power Supply • (Redundant Cooling Fans • Rack-Mount IK'it Server Discount $1„5 00 In order to be eligible for the above discount,the City of Kent agrees to return the existing VofcePermfts'" server and all components including the voice card(sp, Incense(keys,etc.to Selection. These items should be returned after cutover to the now server and components if these items are not returned,the City of Kent will not be eligible'for this discount. Server Set up,Software installation, Configuration and Testing Inctuded Labor to Procure,Assemble, Configure and Test Server Hardware.and software Included Professional Services Required to Upgrade to VoicePermits'"'4.0 $27,650 Solution Design and Development to Include the Following Functionality: • Schedule Inspections • Speak Site Address • Cancel Inspections • Permit Based Messaging • Hear)inspection kewIts • Voic.0ermrts Reporting Module • Post Inspection Results • Remote Access Software Correction Cndies InOuded Sellectron Project Management Inciudedl 2-pang On-Site Installation,Travel Expenses and Training Included) System Documentation Included Total Investment for 9VoicePermits 4.0 Upgrade $40,150 Required Items Not Included in Wectron Technologies VoisePerrrafts Base system s Phone Lines B. Network Services Required to Support the Ilnstallllat.ion, • Required Host Interfice(Please Contact Accela for Pricing) • Host.Interface Components ivMust.Be Installed and Functioning Prior to On-Site Instalilation Tax 9.5%: $3,814.25 Grand Total: $43,964.25 (Neu 1 of 3 21 Attachment B April 20,Rpt:k. Quote vaillid four 993 days SELECTRON PRODUCT AND SERVICE PRICING & PAYMENT INFORMATION IPrilcring, presented in the quote is set based upon the continuation and prepayment of the exi5bng maintenance agreement Adjustments to this coverage period'.. will result iun adjustrneints to the above proposed pricing, (Pricing does not include additional appliicaten integration charges that may he requured as part of this. solut.ioln. 'Tllali;s includes Application Vendor API, user, or impllement,ation fees, additional hcens-ing fees, or other surcharges dilreetly or Indirectly charged by or remitted to the Appllila:ation Vendor. FA. f'F C:U LX 25`lb Invoiced at time of execution of contracts or upon receipt of purchase carder 50% Invoiced at completwon of on-site instaVlat.ion 20% Invoiced :30 days after on-site installation 5% Invoiced upon fdnaf acceptance Initial Payment Invoiced upon receipt of purchase order. Enables Selertron Technologies to purchase necessary hardware, fund t:ra,vell expenses, and invest the technical -support hours to design and d..evellop.. the application for your Jurisdiction. SoconJ_Ipa=elnt- Invoiced at the coattpllletioln Of the oaiu s"te installation and training phase of the implementation, or w1hen the system is availllable for Client:testing at Client site, 7..�.!S.r.d....p:.fl..Y..lm..p.pia.. Invoiced 30 days after the completion of the on-site installation.. The Client. 'l9 (given thirty days to test functionality as defined by the contract and the agreed upon call flows. it is the Clent:°s. responsihilmty to ensure fulls testing i5 completed during this period. Fin,ai (Payment'. Invoiced after C sent has completed the Final Testing and Acceptance of the 5y5temm. Seieckron Technologies wilil have resolved,all issues found during testing,, if Final Acceptance is delayed beyond thiirty da...ys, not due to any fault of Selectron Tec:hlnologies., the payment wilk become immediately due. TAXES Sales "tax or any other applicable taxes. are NOT included in any of this propasal'5 pH6ing infolnnastlion if taxes hetorne applicable, these taxes walll them (need to be added to the proposed pricing.. 1PAYJMJFNJ 'fIMIVIIS f erm,s are net 30 from date of invoice. past due Invoices are subject to a 1.5%per month hate fee. pdgt 2 of 3 zz Attachment B :Selec.p.LIr n quoteW2S"F. April 20,2012. Clooke wallid for 99 days V 11 Pahl ja i ll f I lu f r ipu.IVtl li i 101IN Selectren Technolio pes, Inc. 7405'SW Toch Center Drive, Suite 140 Portland, OR 97223 Ph: 503,443.1.400 Fix: 503.4432052 AIXXIllrw14,( 1. IIdirilv'ir1'rlh" FiDtVIklIISTIRA IMIIII4°:kT" SIY#^:''4 System adr-mnMritmrs may remotely rfeflnem configurable setting, in the system through the Administration "too]. The: base system imcludes two lircrKe5 for the Administration "r'ool. One, Iliremse will be pre Installed can the system server, the seeeand license allows the jurisdiction to unstallll the Administration Taxer on a workstation with network access. Adldlitiionral'.....Remote Administrator Licenses................ ............$25fJ I"IIIiIFi4kWl)-NPLAIII Ilmll"sl..SItIt HIN6 I I I S Selectman will provide custom programming and non warranty maintenance client support on a tune:-and.materlials baw.is. Requested design,, programming„ testing, documentation, implementation work, and customer support will be performed at our then ouerrem, standard published billing.rates. Selectron will issue a quote and scope of work to the Client. A purchase carder must be issued before work can he scheduled or begun, T,ir&r I1111,l'3B'-h6, IURAItlIIN15 AINID 1014-"ATL `xRJM1+"k"u:'dRV All travel and ras%aciated ex:pen5es for the on•�site installation work during the initial setup are included in the base systern prise. If the Client requests additional on site work, travel and out of pof..ket expense-, will be bilIed at $1,750.. per day(2 day minimoum)with at least 14 day ,advance: notice. If &-14 days advance notice is provided the rate Increases to $2,1700. per dap;. if the Inotice I, less than 7 days the rate increases to $2,500. per day, If changes are made to a travel l schedule after plains are confirmed, the client is responsible for any change fees or price changes incurred for airfare, hotel or car rental. ()14 r NI'0'ii 5lJl'PUIZI.. To qualify for upgrade pricing, a Support and: Maintenance Agreerment and all applicable fees must be current. The current PremlerPro support agreement with the city of Kent expires March 31, 201"3. Renewal of the Support and Marmtenance Agreement for April 1., 2012, to March 33, 2013 is $6,310 and has beeln paid. Based upon the configwration within this gauate, the PrmnlerPrre Support Services and renewal effective following the Version 4 upgrade will be$6,885.. IPagc 3 or 3 23 Attachment C II make the P,(), out to Hevilett-Packard! undei dieWSCAMSPO contract and rax die PLUChZISO ordfftO Unisaft Networks425-u)68-I]001 to process. Ilayrnent will bQ made to I icwlelt-llackard I Icidett-Packird 11.0 Box 1011,49 Atlanta, (iA 10192-l 14�t t)o not send your Purchase Order to III aLkIrcss as it ls for payment only, V�Iffl� /4911 WMR.� ONILINIE PIRICIE QUOTATION Quote Number: 7868412 Quote IN ame: Tuday'5 Date 1125M12 7 28 44 PM Quote Created Date: 712520127:2816PIM Created By: Conira(*VVA- STATE OF VVAS1 IIN(ITON (MCNINASPO4 (T10-MST- b,oiDniea@unisofinetworks.com 2974 Product availablifty and product diisconflnuation are subject to,change without notice. The prices in this quotation are valid for 30 days from quote date above. Please include the.quote number and contrairt from this quote on the correspood1mg purchose order, Vryv ft RQ-Pririk?pkw 1,9 prinf 0?4 brw Fear wr nature n4mim. HIPProl-II OL360 G7 Base $7,613.84 1 $7,6 3.64 HP'ProLiaint DIL360 G7 High Perfornianco Server 641749-021 2 Quad-Core lintelt Xaong Pgooessorg X5687 (3.60iGHz, 644130-l-21 12M L3 Cache. 130 Watts) I I 6(5 PC9-10000IR 4x4GI9 1 Rank Memory 5033ag.1043 HIPA 6GB PC3,-10600IR 44M 1 Rank Memory 593339-16G Storage controller Embedded P41 WIZIM (W Array Controller) Drive cage HIP 4-13ay Small Form Fador Drive Cage HIP 300,r.8 6G Hot Plug 2.5,SAS Dual Port 10,000 rpm 507121-821 Enterprise Hard Drivel INFO] HIP 300GH 5G Hot Plug 2,5 SAS Dual Pert 10,000 qI 507127-821 II Hard Drivel[INFO) HP 300G6 6G Hot PI ugi 2,5 SAS Dual Pon 10,000 rpm, 507127-021 Enterpme Hard Drrvel[INFO] HP 3001GS 6G Hot Plug 2.5,SAS Dual Red 10,000 rpm 507121-821 Enterprise Hard 6r[veflNF0) HIP 4-flay Small Form Factor Drive Cage 516966-821 HP 300GS 6G Hot Plug 2.5 SAS Dual Port 10,000 Mm 507427-B21 24 Attachment C Enterprise Hard DrivoQ[INFf'3] HP 300, Ei 6G Hot(Plug 2'"5 SAS Dual Punt 10,000 rpm, 5$7127.8211 (Enterprise Hard DrivalINFO] HP'3tf0G8 6G Hlot Plug 2_6 SAS Dual Port 10,000 rpm 5507127-92111 IEnteiprisre Hard CrhveflNFO] IMP 300,Gt1 6'G Hat Plug12,5,SAS Dual Port'10,000 rpm 507IZ7.8211 (Enterprise Hard L3rivelu.INFG] HP 256MB P'-Series Cache Module with haftae¢'y('Farr SA 462968aTN" P2:112ZMI or P4IQZM Controllers) Nahvork card 2 (Embedded HP NC382i Dual Port Mulfifunction Gigabit SerwerAd ptors(4-Forts) 2 HP 46OW Common Stoat Gold Hot Plug Power Supplies 563296.2PS 2 HP t 83m 10A C13-UL US Power Curds AF556A•XX2 Server management Integrated Lights Out 3(il-C 3)Management Warranty HP'Standard Limited Warranty. 3 Years Parts and,on- site L,aher, Next Business Play HP'Caro Pack, S Fears,4 Hiours,24V ProLiant 01-360 t2602E $1,69$.40 11 $1,55$',40 $rubtctaaL $9,212.24 The term,and condifions of the WA-STATE OF W.ASHIINGTON (WSCA(N,ASP'O)wiRl apply to any order placed as a result of Ibia ingwry, rio other fevrns or tonditian5 shell app8y. 25 Attachment C Please make the P,0. 0LI1 10 110fleti-Packard U11del-the WSCAMSPIO contract and r x the PLUChase order to L.InisofiNetworks 425-968-1001 to process. Rayuncgit will be Trra& (o II"vlclf-PacUrd 11cMeti-Packird 11.0. Box 101149 Allant,a, (;A 30392-1149 Do not vernalyour Purchase Order to ibis addrCSS W it iS 16F lllyllnellt Only, ONLINE PRICE QUOTATION Quota Number:7868185 Quote Name: 'roday'sDate 1125,i201243:5622PM Quote Created Date 1125l2012 6:55 10 PM Croated By: Contract:WA- STATE OF WASHINGTON (WSCA/NA5P0)(T10-MST- boirmear,c,Pun softne tworks.com 297 ) Product availability and laToductdisconflnualion are subject to change without no6ce. 'The pricesinthis quotation are valid for 30 days from quote date above, Please oclude t6o quote number and contract from Ws quote on the corresponding purchase order, Vsw Me Ra-P rot q4mm bpa,4 Ons Foffi,for yvur fikhm ref erenu.4. HP'IProLiant DI-360 G7 Server Base $6,2311.22 11 $6,231.22 HP ProLiant OL360 G7 Server 579237-8,21 Quad-Core lirdeIOD Xeon@ Processor E5640,(2.66GHz, 588068-L21 12M L3,Cache. 80 Welts,DOR3,-1066MHz. HT Turbo 1/11212) HP 36GS RM-10600,R 9x4GB 1 Rank Memory 593339-36G Storage contr*ller HP'P41 OYZM (SAS Array Controller) Drive cage HP 4-Say Small Form Factor Drive Cage HP $00,GB 5G Hat Plug 2.5 $A$ Mail Port 1$,OQO rpm 6274111-821 Enterprise Hard DriveflNF01 PIP 30000,GG Hlot Plug 2.5 SAS,Dual Pan 15,000 rpm 627117-11121 Entmrpriso Hard Drivoj[INFO] HP 300GB GG Hot Plug 2.5 SAS Dual Poet 15,000 rpm 6271117-1321 Enterprise Hard DrIvel[INFO] HP 3001GH 6G Hot Plug 2.5 SAS Dual Port 15,000 rpm 627117.621 Enterprise Hard MveflNFO] HP 4-8ay SmalM Form IFaclor Drive Cage $16966-821 HP 30aC GB OG Hiot Plug 2.5 SAS Dual Rod 15,000 Mm 627117.82t 26 Attachment C Enterprise Hard Drive(INFO) HIP 300,G8 6G Holt Plug 2,5 SAS Dual Pon 15,000 fpm 627117-821 Enterprise fllard Drw INFQ] HP'2.SGMB P-Serves Cache IModiule with battery(for SA 462968-OTY P212ZM or P410ZM Controllers) Network card 2 Embedded HP NC382i Dual Part Multifunction Gigabit Server Adaplers(4,-Povl;s) 2 HIP 465W Common Slot Gold Hot Plug Power Supplies 5032964P$ 2 HP 1.83m 10A C1 3-1UL US Power Cords AF558A-XX2 Server management InWgrated Lights Out 3(41-0,3)Management Warranty PIP Standard Limiled Warranty-3 Years Parts and on- site Labor, Next 5 4inQss Day PIP Care Pack. 5 Years,4 Hiours,24x7 PmLlant DI-360 U8082E $1,598.40 1 $1"598,40 Subtotal: $7,829.62 The forms and conciftions of the WA-STATE OF WASHINGTON (WSCAfNASPO)will apply to any order placed as a result Of this inqwry,no other terms or conditions shall appNy. Sub-Total: $ 17,041.86 Tax 9.5%: $ 1,618.98 Grand Total: $ 18,660.84 v Attachment D rao e 4218063 D[J)Rfl n, Price Quotation Date 06125/2012 Expires 07/25/2012 Po', Curt Ryser From, Roland Walters Kent City of DLT Solutions 220 4th Ave South 13861 Sunrise Valley Drive Kent, WA 98032 Suite 400 Herndon,VA 20171 II'hr>rt e', (253),856-4642 F x:: Phone,: (703) 708-9120 F.`.irnail'. CRyser@kentwa.gov Frax: (866)419-7926 Erniaiil'. roland.walters@dlt.com # IJI II Pad No Guinhaird CLy Ilinif larira, Fxt -'niµ 1 9891-2018 GSA 2 $16,913.83 $33,827.66. Application Server Product-Enterprise Edition Processor License 2 '98912019 _ _ _ GSA 2 $3,721.05! $7,44210.. One Year Software Update License&Support for Application Server .(Product-Enterprise(Edition Processor License l..L'laI r $i41,269.76 Tax 9 . 50 : $3, 920 . 63 GSA Schedule Data: Contract* GS-35F-4543G Contract Category: Schedule70 Grand Total : $45, 190 . 39 Contract Term: 0410 111 9 9 7-1 111 8/2 01 2 DUNS#:78-646-8199 Federal ID#: 54-1599882 CAGE Code: OSOH9 FOB: Destlnation Terms: Net 30(On Approved Credit) DLT accepts VISArMC/AMEX Ship Via: Fedex Grounid/UPS ., „ ....., , , ,...... „ ,,, ,,,... ...... , , ,,,, ,,,,,,, ,,,,,,,.... FL.II.ASIE R�"$'IUIIT X� 11e DLTSoVu11011S I�- NPrm DLT3olutions ..� ""'." "'... SumNust Bank '."'.... `0 Box 102549 F........................................................hY INEN A ABA 4 061000104 Atlanta,GA 30368 AW#1000032705898 Customer orders subject to applicable sales tax in: CA CO CT,DC, FL,GA, HI,IL, IN KS, KY,LA, MA, MD, MI,MO,MS, NC, NM, NJ,NV, NY,OH, OK,PA, RI,SC,TN,TX,VA,WA,WI The terms and conditions of the Manufacturers standard commercial license and subscription agreement are made a part of this quotation and shall govern purchaser's use of any Manufacturer product. Contact the DLT Sales Rep if further information its required. F"agar; 1 of 2. 28 Attachment D C j("Ae 4218063 Reference 833 NIM, Price Quotation Clafie 06/25/20 12 Expires 0 712 51201 2 Documentation to be submitted to validate Invoice for payment: a. Authorized Services shall be invoiced with a corresponding time report for the period of performance identifying names, days,and hours worked. b. Authorized reimbursable expenses shall be invoiced with a detailed expense report,documented by coides of supporting receipts. c. Authorized Education or Training shall be unvoiced with a Report identifying date and nameof class completed,and where applicable the name of attendees. 2(A 29 Attachment E aCt.1eTK 'elate 27983-1 The Active Network. t01827desis Court,Surile 100 Llatar, €17M2)2012 San Cuego,CA,92121.,United Surtes expires� 9pd02012 Cuaturinev S'COTT FUKUNDA CITY CIF KENT Bill To.. Ship Ta: CITY Of KENT CITY OF KENT 22td 41'H AVENUE SOU T"H 22L141H AVENUE 8,0UTHY KEN'r,'NAM32 KEN"f,VyA W032 UNl'tl'EI2$TATES UNITED STATES Sales Repmsaniatfve:Jones,T'eirry klleat Payment Termrs�:iiQ NET Lino Product... Units.. .Oy Unit Prim Total Prtprr.... So inS 1USU1 Wiling fU5B1 1.0 PaymentManager-Sen+or Pnofeasicnal Services- hir 32 �$"tl'3B.SY0 $'S,7b'0.04Y Projecd Managernent 2.0 Payment Manager Senior Piofessicnal Services- f4' 12 $'d80.00 $'5,7T',0.00 Business Process Review 3.0 Payment Manager,Samar ProfessionalServices- l.dr 48 s"I#t,Td74 $'8,6A0.00 Training 4.0 Payment Manager r Senior Prof issicnal Services. °fr 10 St tlo00 $5,4DO.eft Implementation Services 5.0 Payment Manager Senior PaofeeslDnal Services-GL Ht 24 '$180 00 $4,320 W Ezl nrt integration Audit,Test&Setup 5..0 Payment Manager.Senior Profassicnal Services Hr A $18000 V20(ND Payment Server IMorchant,acCcunt Satuip 7.Y7 Payment Managoir-Senior Professional Soruicos-F0, Hr 24 $18000 $4,12000 Wet So,Ni os Setup Category Sulrtptal Page 1 of 3 30 Attachment E 9WHVG%NFTWOfiK Quote 27983-1 Payment Manager Serwce.c;onsuliting Sublotal(Seffing Price) $34 920 00 TaK CITY(RMe 3%) $0 Do COUNTY(Rake 0%) $6 00 STATE(Rate(o 6%i $0 00 Total(USV $34,020,00 Tax 9.5%: $ 3,317.40 Grand Total: $ 38,237.40 ............................................................................................................................................................................................................. Page 2 of 3 31 Attachment E aCt NETWORK Quote 27983 -1 General Sale s k�"laves srelere a pplkA)1e,we b,A tn(lxlid a o'll Pluces a fe in the ourrenq vf qflu tuvfty 0l ovW11aaRon to chauge. willhoul nobrre) Hwdww®r,operHfing eyslerai,and P84Y a0lwaire Tepid Ole preparation we not a,kjuded UW055 Othprlwke,Oolerd Onsite Se"Ires QuioPe,d prices for o�nsile services do not malLide airfare If amilp services are required,economy airfare will be assessed and invoiced separately.Onste sern sire bilIed iin MIMMUM 8 how daily mcrements. Method of Payment 0 Lavou.Me porehdtst Order Number ................................................................................................................................................................................................................................................................................. D Ovdit(mad EJ a.$3 Ej Masterl and L] Anurican f xprvss Credit On d'Nuintum FNPiraljon 02tv: I hereh Agree to flay allove quote wIth ahe stated Wilaod. Cusl ome r Nam,:CUTY f aF K EN 1 `' E21iomro - Naiii, Titian: DiecivC I rid oA Ouk,le, ....................................................................................................................................................... Page 3 of 3 32 KENT WASHING-ON FINANCE ADMINISTRATION R. J. Nachlinger, Director 220 Fourth Avenue S. Kent, WA. 98032 Fax: 253-856-6255 Phone: 253-856-5264 DATE: August 7, 2012 TO: Kent City Council Operations Committee FROM: R. J. Nachlinger, Finance Director THROUGH: John Hodgson, Chief Administrative Officer SUBJECT: Ordinance Authorizing the Refunding of the 2000 and 2002 Limited Tax General Obligation Bonds MOTION: I move to recommend Council approve the ordinance authorizing the issuance of the 2012 Refunding Bonds in an amount not to exceed $13,000,000 to refund the outstanding 2000 and 2002 Limited Tax General Obligation Bonds. SUMMARY: The Administration recommends that the City Council authorize the issuance of the 2012 Refunding Bonds to defease the outstanding 2000 and 2002 Bonds. We are recommending this transaction to save approximately $1.6 million over the remaining life of 10 years of those bonds. BUDGET IMPACT: The budget impact of this ordinance is a reduction in the debt service costs annually each year from 2012 through and including 2022. The total savings on this transaction is anticipated to be equal to or greater than 13% of the debt service cost. BACKGROUND: This ordinance authorizes the Administration to go forward with this transaction within certain parameters. With the interest rates as low and stable as they currently are, we anticipate these savings to be realized. EXIBIT: Bond Ordinance 33 ORDINANCE NO. AN ORDINANCE OF THE CITY OF KENT, WASHINGTON, PROVIDING FOR THE ISSUANCE OF ONE OR MORE SERIES OF LIMITED TAX GENERAL OBLIGATION REFUNDING BONDS OF THE CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $13,000,000 TO REFUND CERTAIN OUTSTANDING LIMITED TAX GENERAL OBLIGATION BONDS AND TO PAY COSTS OF ISSUING THE BONDS; PROVIDING THE FORM AND TERMS OF THE BONDS; AND DELEGATING THE AUTHORITY TO APPROVE THE FINAL TERMS OF THE BONDS. PREPARED BY: PACIFICA LAW GROUP LLP Seattle, Washington 34 CITY OF KENT ORDINANCE NO. TABLE OF CONTENTS* Page SECTION 1. - Definitions and Interpretation of Terms ................................. 3 SECTION 2. - Authorization of Bonds and Bond Details................................ 9 SECTION 3. - Registration, Exchange and Payments ................................. 10 SECTION 4. - Redemption Prior to Maturity and Purchase of Bonds............. 15 SECTION 5. - Form of Bonds.................................................................. 20 SECTION 6. - Execution of Bonds ........................................................... 22 SECTION 7. - Refunding Plan; Application of Bond Proceeds....................... 23 SECTION 8. - Tax Covenants ................................................................. 26 SECTION 9. - Bond Fund and Provision for Tax Levy Payments................... 29 SECTION 10. - Defeasance ...................................................................... 30 SECTION 11. - Sale of Bonds ................................................................... 30 SECTION 12. - Undertaking to Provide Ongoing Disclosure .......................... 33 SECTION 13. - Lost, Stolen or Destroyed Bonds......................................... 37 SECTION 14. - Severability; Ratification .................................................... 38 SECTION 15. - Effective Date of Ordinance................................................ 39 * This Table of Contents is provided for convenience only and is not a part of this ordinance. -1- 08/02/12 35 CITY OF KENT, WASHINGTON ORDINANCE NO. AN ORDINANCE OF THE CITY OF KENT, WASHINGTON, PROVIDING FOR THE ISSUANCE OF ONE OR MORE SERIES OF LIMITED TAX GENERAL OBLIGATION REFUNDING BONDS OF THE CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $13,000,000 TO REFUND CERTAIN OUTSTANDING LIMITED TAX GENERAL OBLIGATION BONDS AND TO PAY COSTS OF ISSUING THE BONDS; PROVIDING THE FORM AND TERMS OF THE BONDS; AND DELEGATING THE AUTHORITY TO APPROVE THE FINAL TERMS OF THE BONDS. A. The City of Kent, Washington (the "City") has outstanding its Limited Tax General Obligation Various Purpose and Refunding Bonds, 2000, dated October 1, 2000 and issued pursuant to Ordinance No. 3524 adopted by the City Council (the "Council") of the City on September 19, 2000 (the "2000 Bond Ordinance"), which remain outstanding as follows: Maturity Date (December 1) Principal Amount Interest Rate 2020 $ 3,920,000 5.375% (the "2000 Bonds"); and B. The 2000 Bond Ordinance provides that the City may call the 2000 Bonds maturing on or after December 1, 2011 (the "2000 Refunding Candidates") for redemption on or after December 1, 2010, in whole or in part on any date, at a price of par plus accrued interest, if any, to the date of redemption; and 36 C. The City has outstanding its Limited Tax General Obligation Bonds, 2002, dated July 30, 2002, and issued pursuant to Ordinance No. 3607 adopted by the Council on July 16, 2002 (the "2002 Bond Ordinance"), which remain outstanding as follows: Maturity Dates (December 1) Principal Amount Interest Rate 2012 $ 785,000 4.000% 2013 570,000 4.125 2014 595,000 4.250 2022 5,905,000 5.000 (the "2002 Bonds"); and D. The 2002 Bond Ordinance provides that the City may call the 2002 Bonds maturing on or after December 1, 2013 (the "2002 Refunding Candidates") for redemption on or after December 1, 2012, in whole or in part on any date, at a price of par plus accrued interest, if any, to the date of redemption; and E. After due consideration it appears to the Council that all or a portion of the 2000 Refunding Candidates and the 2002 Refunding Candidates (together, the "Refunding Candidates") may be defeased and refunded by the proceeds of limited tax general obligation refunding bonds at a savings to the City and its taxpayers; and F. The Council deems it in the best interest of the City to issue one or more series of limited tax general obligation refunding bonds in the aggregate principal amount of not to exceed $13,000,000 (the "Bonds") to redeem and defease all or a portion of the Refunding Candidates and to pay costs of issuing the Bonds; and -2- Limited Tax General Obligation Refunding Bonds, 2012 37 G. The Council wishes to delegate authority to the Mayor (the "Designated Representative"), for a limited time, to approve the interest rates, maturity dates, redemption terms and principal maturities for the Bonds within the parameters set by this ordinance; and H. The City expects to receive a proposal from KeyBanc Capital Markets Inc. and Piper ]affray & Co. (together, the "Underwriters") and now desires to issue and sell the Bonds to the Underwriters as set forth herein; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON DO ORDAIN as follows: SECTION 1. - Definitions and Interpretation of Terms. (a) Definitions. As used in this ordinance, the following words shall have the following meanings: Acquired Obligations means the Government Obligations acquired by the City under the terms of this ordinance and the Escrow Deposit Agreement to effect the defeasance and refunding of the Refunded Bonds. Beneficial Owner means any person that has or shares the power, directly or indirectly, to make investment decisions concerning ownership of any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). Bond Fund means the "City of Kent Limited Tax General Obligation Bond Debt Service Fund, 2012" authorized to be created pursuant to Section 9. Bond Purchase Contract means the contract for the purchase of the Bonds between the Underwriters and the City, executed pursuant to Section 11. -3- Limited Tax General Obligation Refunding Bonds, 2012 38 Bond Register means the registration books showing the name, address and tax identification number of each Registered Owner of the Bonds, maintained pursuant to Section 149(a) of the Code. Bond Registrar means, initially, the fiscal agency of the State of Washington, for the purposes of registering and authenticating the Bonds, maintaining the Bond Register, effecting transfer of ownership of the Bonds and paying interest on and principal of the Bonds. Bond Year means each one-year period that ends on the date selected by the City. The first and last Bond Years may be short periods. If no date is selected by the City before the earlier of the final maturity date of any series of Tax-Exempt Bonds or the date that is five years after the date of issuance of any series of Tax- Exempt Bonds, Bond Years end on each anniversary of the date of issue and on the final maturity date of such series of the Tax-Exempt Bonds. Bonds mean the not to exceed $13,000,000 aggregate principal amount of City of Kent, Washington, Limited Tax General Obligation Refunding Bonds, 2012[A][B (Taxable)], authorized to be issued in one or more series pursuant to this ordinance. Call Date means, with respect to each series of Refunded Bonds, the date selected as the call date by the Designated Representative under the ordinance authorizing such series of Refunded Bonds. City means the City of Kent, Washington, a municipal corporation duly organized and existing under and by virtue of the Constitution and laws of the State of Washington. -4- Limited Tax General Obligation Refunding Bonds, 2012 39 Code means the Internal Revenue Code of 1986, as amended, and shall include all applicable regulations and rulings relating thereto. Commission means the Securities and Exchange Commission. Council or City Council means the legislative body of the City as duly and regularly constituted from time to time. Designated Representative means the Mayor, or his or her designee. DTC means The Depository Trust Company, New York, New York, a limited purpose trust company organized under the laws of the State of New York, as depository for the Bonds pursuant to Section 3. Escrow Agent means U.S. Bank National Association, Seattle, Washington. Escrow Deposit Agreement means the Escrow Deposit Agreement(s) between the City and the Escrow Agent to be dated as of the date of closing of the Bonds of a series and substantially in the form on file with the City. Federal Tax Certificate means the certificate executed by the Finance Director setting forth the requirements of the Code for maintaining the tax exemption of interest on any series of Tax-Exempt Bonds, and attachments thereto. Finance Director means the Finance Director of the City or the successor to such officer. Government Obligations mean those obligations now or hereafter defined as such in chapter 39.53 RCW. Letter of Representations means the blanket issuer letter of representations from the City to DTC. MSRB means the Municipal Securities Rulemaking Board or any successors to its functions. -5- Limited Tax General Obligation Refunding Bonds, 2012 40 Net Proceeds, when used with reference to any series of Tax-Exempt Bonds, means the principal amount of such Tax-Exempt Bonds, plus accrued interest and original issue premium, if any, and less original issue discount, if any. Private Person means any natural person engaged in a trade or business or any trust, estate, partnership, association, company or corporation. Private Person Use means the use of property in a trade or business by a Private Person if such use is other than as a member of the general public. Private Person Use includes ownership of the property by the Private Person as well as other arrangements that transfer to the Private Person the actual or beneficial use of the property (such as a lease, management or incentive payment contract or other special arrangement) in such a manner as to set the Private Person apart from the general public. Use of property as a member of the general public includes attendance by the Private Person at municipal meetings or business rental of property to the Private Person on a short-term basis in accordance with regulations under the Code if the rental paid by such Private Person is the same as the rental paid by any Private Person who desires to rent the property. Use of property by nonprofit community groups or community recreational groups is not treated as Private Person Use if such use is incidental to the governmental uses of property, the property is made available for such use by all such community groups on an equal basis and such community groups are charged only a de minimis fee to cover custodial expenses. Refunded Bonds mean all or a portion of the Refunding Candidates designated by the Designated Representative for refunding pursuant to Section 7 and Section 11. -6- Limited Tax General Obligation Refunding Bonds, 2012 41 Refunding Account means the account by that name established pursuant to Section 7. Refunding Candidates mean the 2000 Refunding Candidates and the 2002 Refunding Candidates. Registered Owner means the person named as the registered owner of a Bond in the Bond Register. For so long as the Bonds are held in book-entry only form, DTC or its nominee shall be deemed to be the sole Registered Owner. Rule means the Commission's Rule 15c2-12 under the Securities Exchange Act of 1934, as the same may be amended from time to time. Taxable Bonds means any Bonds determined to be issued on a taxable basis pursuant to Section 11. Tax-Exempt Bonds means any Bonds determined to be issued on a tax- exempt basis under the Code pursuant to Section 11. 2000 Bond Ordinance means Ordinance No. 3524 adopted by the Council on September 19, 2000 authorizing the issuance of the 2000 Bonds. 2000 Bonds mean the City of Kent, Washington, Limited Tax General Obligation Various Purpose and Refunding Bonds, 2000 issued pursuant to the 2000 Bond Ordinance as described in the recitals of this ordinance. 2000 Refunded Bonds mean the 2000 Refunding Candidates designated by the Designated Representative for refunding pursuant to Section 11 of this ordinance. 2000 Refunding Candidates mean the 2000 Bonds maturing on and after December 1, 2012. -7- Limited Tax General Obligation Refunding Bonds, 2012 42 2002 Bond Ordinance means Ordinance No. 3607 adopted by the Council on July 16, 2002 authorizing the issuance of the 2002 Bonds. 2002 Bonds mean the City of Kent, Washington, Limited Tax General Obligation Bonds, 2002, issued pursuant to the 2002 Bond Ordinance as described in the recitals of this ordinance. 2002 Refunded Bonds mean the 2002 Refunding Candidates designated by the Designated Representative for refunding pursuant to Section 11 of this ordinance. 2002 Refunding Candidates mean the 2002 Bonds maturing on and after December 1, 2013. Underwriters mean KeyBanc Capital Markets Inc. and Piper ]affray & Co. (b) Interpretation. In this ordinance, unless the context otherwise requires: (1) The terms "hereby," "hereof," "hereto," "herein," "hereunder' and any similar terms, as used in this ordinance, refer to this ordinance as a whole and not to any particular article, section, subdivision or clause hereof, and the term "hereafter" shall mean after, and the term "heretofore" shall mean before, the date of this ordinance; (2) Words of the masculine gender shall mean and include correlative words of the feminine and neuter genders and words importing the singular number shall mean and include the plural number and vice versa; (3) Words importing persons shall include firms, associations, partnerships (including limited partnerships), trusts, corporations and other legal entities, including public bodies, as well as natural persons; -8- Limited Tax General Obligation Refunding Bonds, 2012 43 (4) Any headings preceding the text of the several articles and sections of this ordinance, and any table of contents or marginal notes appended to copies hereof, shall be solely for convenience of reference and shall not constitute a part of this ordinance, nor shall they affect its meaning, construction or effect; and (5) All references herein to "articles," "sections" and other subdivisions or clauses are to the corresponding articles, sections, subdivisions or clauses hereof. SECTION 2.- Authorization of Bonds and Bond Details. For the purpose of refunding the Refunded Bonds and paying costs of issuance of the Bonds, the City shall issue and sell one or more series of limited tax general obligation refunding bonds in the aggregate principal amount of not to exceed $13,000,000 (the "Bonds"). The Bonds shall be general obligations of the City, shall be designated "City of Kent, Washington, Limited Tax General Obligation Refunding Bonds, 2012[A][B (Taxable)]" with additional series designation or other designation as set forth in the Bond Purchase Contract and approved by the Designated Representative. The Bonds of a series shall be dated as of their date of initial delivery, shall be fully registered as to both principal and interest, shall be in the denomination of $5,000 each or any integral multiple thereof within a maturity, shall be numbered separately in the manner and with any additional designation as the Bond Registrar deems necessary for purposes of identification and control, and shall bear interest payable on the dates set forth in the Bond Purchase Contract. The Bonds of a series shall bear interest at the rates set forth in the Bond Purchase Contract; and shall mature on the dates and in the principal amounts set forth in the Bond -9- Limited Tax General Obligation Refunding Bonds, 2012 44 Purchase Contract and as approved by a Designated Representative pursuant to Section 11. SECTION 3. - Registration, Exchange and Payments. (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the system of registration approved by the Washington State Finance Committee from time to time through the appointment the state fiscal agency. The City shall cause a Bond Register to be maintained by the Bond Registrar. So long as any Bonds remain outstanding, the Bond Registrar shall make all necessary provisions to permit the exchange or registration or transfer of Bonds at its principal corporate trust office. The Bond Registrar may be removed at any time at the option of the Finance Director upon prior notice to the Bond Registrar and a successor Bond Registrar appointed by the Finance Director. No resignation or removal of the Bond Registrar shall be effective until a successor shall have been appointed and until the successor Bond Registrar shall have accepted the duties of the Bond Registrar hereunder. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of such Bonds and this ordinance and to carry out all of the Bond Registrar's powers and duties under this ordinance. The Bond Registrar shall be responsible for its representations contained in the Certificate of Authentication of the Bonds. (b) Registered Ownership. The City and the Bond Registrar, each in its discretion, may deem and treat the Registered Owner of each Bond as the absolute owner thereof for all purposes (except as provided in Section 12 of this ordinance), and neither the City nor the Bond Registrar shall be affected by any notice to the contrary. Payment of any such Bond shall be made only as described in -10- Limited Tax General Obligation Refunding Bonds, 2012 45 Section 3(h), but such Bond may be transferred as herein provided. All such payments made as described in Section 3(h) shall be valid and shall satisfy and discharge the liability of the City upon such Bond to the extent of the amount or amounts so paid. (c) DTC Acceptance/Letters of Representations. The Bonds initially shall be held in fully immobilized form by DTC acting as depository. To induce DTC to accept the Bonds as eligible for deposit at DTC, the City has executed and delivered to DTC a Blanket Issuer Letter of Representations. Neither the City nor the Bond Registrar will have any responsibility or obligation to DTC participants or the persons for whom they act as nominees (or any successor depository) with respect to the Bonds in respect of the accuracy of any records maintained by DTC (or any successor depository) or any DTC participant, the payment by DTC (or any successor depository) or any DTC participant of any amount in respect of the principal of or interest on Bonds, any notice which is permitted or required to be given to Registered Owners under this ordinance (except such notices as shall be required to be given by the City to the Bond Registrar or to DTC (or any successor depository)), or any consent given or other action taken by DTC (or any successor depository) as the Registered Owner. For so long as any Bonds are held in fully immobilized form by a depository, DTC or its successor depository shall be deemed to be the Registered Owner for all purposes hereunder, and all references herein to the Registered Owners shall mean DTC (or any successor depository) or its nominee and shall not mean the owners of any beneficial interest in such Bonds. -11- Limited Tax General Obligation Refunding Bonds, 2012 46 (d) Use of Depository. (1) The Bonds shall be registered initially in the name of "Cede & Co.", as nominee of DTC, with one Bond maturing on each of the maturity dates for the Bonds within a series in a denomination corresponding to the total principal therein designated to mature on such date. Registered ownership of such Bonds, or any portions thereof, may not thereafter be transferred except (A) to any successor of DTC or its nominee, provided that any such successor shall be qualified under any applicable laws to provide the service proposed to be provided by it; (B) to any substitute depository appointed by the Finance Director pursuant to subsection (2) below or such substitute depository's successor; or (C) to any person as provided in subsection (4) below. (2) Upon the resignation of DTC or its successor (or any substitute depository or its successor) from its functions as depository or a determination by the Finance Director to discontinue the system of book entry transfers through DTC or its successor (or any substitute depository or its successor), the Finance Director may hereafter appoint a substitute depository. Any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it. (3) In the case of any transfer pursuant to clause (A) or (B) of subsection (1) above, the Bond Registrar shall, upon receipt of all outstanding Bonds of a series, together with a written request on behalf of the Finance Director, issue a single new Bond for each maturity of that series then outstanding, registered in the name of such successor or such substitute depository, or their -12- Limited Tax General Obligation Refunding Bonds, 2012 47 nominees, as the case may be, all as specified in such written request of the Finance Director. (4) In the event that (A) DTC or its successor (or substitute depository or its successor) resigns from its functions as depository, and no substitute depository can be obtained, or (B) the Finance Director determines that it is in the best interest of the beneficial owners of the Bonds that such owners be able to obtain physical Bond certificates, the ownership of such Bonds may then be transferred to any person or entity as herein provided, and such Bonds shall no longer be held by a depository. The Finance Director shall deliver a written request to the Bond Registrar, together with a supply of physical Bonds, to issue Bonds as herein provided in any authorized denomination. Upon receipt by the Bond Registrar of all then outstanding Bonds of a series together with a written request on behalf of the Finance Director to the Bond Registrar, new Bonds of such series shall be issued in the appropriate denominations and registered in the names of such persons as are requested in such written request. (e) Registration of Transfer of Ownership or Exchange; Change in Denominations. The transfer of any Bond may be registered and Bonds may be exchanged, but no transfer of any such Bond shall be valid unless it is surrendered to the Bond Registrar with the assignment form appearing on such Bond duly executed by the Registered Owner or such Registered Owner's duly authorized agent in a manner satisfactory to the Bond Registrar. Upon such surrender, the Bond Registrar shall cancel the surrendered Bond and shall authenticate and deliver, without charge to the Registered Owner or transferee therefor, a new Bond (or Bonds at the option of the new Registered Owner) of the same date, series, -13- Limited Tax General Obligation Refunding Bonds, 2012 48 maturity and interest rate and for the same aggregate principal amount in any authorized denomination, naming as Registered Owner the person or persons listed as the assignee on the assignment form appearing on the surrendered Bond, in exchange for such surrendered and cancelled Bond. Any Bond may be surrendered to the Bond Registrar and exchanged, without charge, for an equal aggregate principal amount of Bonds of the same date, series, maturity and interest rate, in any authorized denomination. The Bond Registrar shall not be obligated to register the transfer or to exchange any Bond during the 15 days preceding any principal payment date any such Bond is to be redeemed. (f) Bond Registrar's Ownership of Bonds. The Bond Registrar may become the Registered Owner of any Bond with the same rights it would have if it were not the Bond Registrar, and to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the right of the Registered Owners of Bonds. (g) Registration Covenant. The City covenants that, until all Bonds have been surrendered and canceled, it will maintain a system for recording the ownership of each Bond that complies with the provisions of Section 149 of the Code. (h) Place and Medium of Payment. Both principal of and interest on the Bonds shall be payable in lawful money of the United States of America. Interest on the Bonds shall be calculated on the basis of a year of 360 days and twelve 30-day months. For so long as all Bonds are held by a depository, payments of principal and interest thereon shall be made as provided in accordance with the -14- Limited Tax General Obligation Refunding Bonds, 2012 49 operational arrangements of DTC referred to in the Letter of Representations. In the event that the Bonds are no longer held by a depository, interest on the Bonds shall be paid by check or draft mailed to the Registered Owners at the addresses for such Registered Owners appearing on the Bond Register on the fifteenth day of the month preceding the interest payment date, or upon the written request of a Registered Owner of more than $1,000,000 of Bonds (received by the Bond Registrar at least 15 days prior to the applicable payment date), such payment shall be made by the Bond Registrar by wire transfer to the account within the United States designated by the Registered Owner. Principal of the Bonds shall be payable upon presentation and surrender of such Bonds by the Registered Owners at the principal office of the Bond Registrar. If any Bond shall be duly presented for payment and funds have not been duly provided by the City on such applicable date, then interest shall continue to accrue thereafter on the unpaid principal thereof at the rate stated on such Bond until it is paid. SECTION 4, - Redemption Prior to Maturity and Purchase of Bonds. (a) Mandatory Redemption of Term Bonds and Optional Redemption, if any. The Bonds of a series shall be subject to optional redemption on the dates, at the prices and under the terms set forth in the Bond Purchase Contract approved by the Designated Representative pursuant to Section 11. The Bonds of a series shall be subject to mandatory redemption to the extent, if any, set forth in the Bond Purchase Contract approved by the Designated Representative pursuant to Section 11. -15- Limited Tax General Obligation Refunding Bonds, 2012 50 (b) Purchase of Bonds. The City reserves the right to purchase any of the Bonds offered to it at any time at a price deemed reasonable by the Finance Director. (c) Selection of Bonds for Redemption. For as long as the Bonds are held in book-entry only form, the selection of particular Bonds within a series and maturity to be redeemed shall be made in accordance with the operational arrangements then in effect at DTC. If the Bonds are no longer held in uncertificated form, the selection of such Bonds to be redeemed and the surrender and reissuance thereof, as applicable, shall be made as provided in the following provisions of this subsection (c). If the City redeems at any one time fewer than all of the Bonds having the same maturity date within a series, the particular Bonds or portions of Bonds of such series and maturity to be redeemed shall be selected by lot (or in such manner determined by the Bond Registrar) in increments of $5,000. In the case of a Bond of a denomination greater than $5,000, the City and the Bond Registrar shall treat each Bond of such series as representing such number of separate Bonds each of the denomination of $5,000 as is obtained by dividing the actual principal amount of Bonds of such series by $5,000. In the event that only a portion of the principal sum of a Bond is redeemed, upon surrender of such Bond at the principal office of the Bond Registrar there shall be issued to the Registered Owner, without charge therefor, for the then unredeemed balance of the principal sum thereof, at the option of the Registered Owner, a Bond or Bonds of like series, maturity and interest rate in any of the denominations herein authorized. -16- Limited Tax General Obligation Refunding Bonds, 2012 51 (d) Notice of Redemption. (1) Official Notice. For so long as the Bonds are held in uncertificated form, notice of redemption (which notice may be conditional) shall be given in accordance with the operational arrangements of DTC as then in effect, and neither the City nor the Bond Registrar will provide any notice of redemption to any Beneficial Owners. Thereafter (if the Bonds are no longer held in uncertificated form), notice of redemption shall be given in the manner hereinafter provided. Unless waived by any owner of Bonds to be redeemed, official notice of any such redemption (which redemption may be conditioned by the Bond Registrar on the receipt of sufficient funds for redemption or otherwise) shall be given by the Bond Registrar on behalf of the City by mailing a copy of an official redemption notice by first class mail at least 20 days and not more than 60 days prior to the date fixed for redemption to the Registered Owner of the Bond or Bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such Registered Owner to the Bond Registrar. All official notices of redemption shall be dated and shall state: (A) the redemption date, (B) the redemption price, (C) if fewer than all outstanding Bonds are to be redeemed, the identification by series and maturity (and, in the case of partial redemption, the respective principal amounts) of the Bonds to be redeemed, (D) that (unless such notice is conditional) on the redemption date the redemption price will become due and payable upon each such Bond or -17- Limited Tax General Obligation Refunding Bonds, 2012 52 portion thereof called for redemption, and that interest thereon shall cease to accrue from and after said date, and (E) the place where such Bonds are to be surrendered for payment of the redemption price, which place of payment shall be the principal office of the Bond Registrar. On or prior to any redemption date (unless such notice is conditional), the City shall deposit with the Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds which are to be redeemed on that date. (2) Effect of Notice; Bonds Due. If an unconditional notice of redemption has been given as aforesaid, or if the conditions to redemption have been satisfied or waived, the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall be paid by the Bond Registrar at the redemption price. Installments of interest due on or prior to the redemption date shall be payable as herein provided for payment of interest. All Bonds which have been redeemed shall be canceled by the Bond Registrar and shall not be reissued. If a conditional notice of redemption has been given and the conditions to redemption have not been satisfied or waived, notice of redemption given pursuant to this ordinance may be rescinded by written notice given by the Bond Registrar on behalf of the City as soon as practicable in the same manner, and to the same Registered Owners of the Bond or Bonds, as notice of such redemption was given -18- Limited Tax General Obligation Refunding Bonds, 2012 53 pursuant to this Section 4(d). If notice of recession has been provided, the Bonds or portions of Bonds so to be redeemed, on the redemption date, shall not become due and payable and from and after such date such Bonds or portions of Bonds shall continue to bear interest at the rate or rates set forth therein until paid or until due provision is made for the payment of the same. (3) Additional Notice. In addition to the foregoing notice, further notice shall be given by the City as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above prescribed. Each further notice of redemption given hereunder shall contain the information required above for an official notice of redemption plus (A) the CUSIP numbers of all Bonds being redeemed; (B) the date of issue of the Bonds as originally issued; (C) the rate of interest borne by each Bond being redeemed; (D) the series and maturity date of each Bond being redeemed; and (E) any other descriptive information needed to identify accurately the Bonds being redeemed. Each further notice of redemption may be sent at least 20 days before the redemption date to each party entitled to receive notice pursuant to Section 12 and with such additional information as the City shall deem appropriate, but such mailings shall not be a condition precedent to the redemption of such Bonds. (4) Amendment of Notice Provisions. The foregoing notice provisions of this Section 4, including but not limited to the information to be included in redemption notices and the persons designated to receive notices, may be amended by additions, deletions and changes in order to maintain compliance -19- Limited Tax General Obligation Refunding Bonds, 2012 54 with duly promulgated regulations and recommendations regarding notices of redemption of municipal securities. SECTION 5. - Form of Bonds. The Bonds shall be in substantially the following form with appropriate or necessary insertions, depending upon the omissions and variations as permitted or required hereby: UNITED STATES OF AMERICA NO. $ STATE OF WASHINGTON CITY OF KENT LIMITED TAX GENERAL OBLIGATION REFUNDING BOND, 2012[A][B (TAXABLE)] INTEREST RATE: % MATURITY DATE: CUSIP NO.: REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: The City of Kent, Washington (the "City"), hereby acknowledges itself to owe and for value received promises to pay to the Registered Owner identified above, or registered assigns, on the Maturity Date identified above, the Principal Amount indicated above and to pay interest thereon from , 2012, or the most recent date to which interest has been paid or duly provided for until payment of this bond at the Interest Rate set forth above, payable on , and semiannually thereafter on the first days of each succeeding December and June. Both principal of and interest on this bond are payable in lawful money of the United States of America. The fiscal agency of the State of Washington has been appointed by the City as the authenticating agent, paying agent and registrar for the bonds of this issue (the "Bond Registrar'). For so long as the bonds of this issue are held in fully immobilized form, payments of principal and interest thereon shall be made as provided in accordance with the operational arrangements of The Depository Trust Company ("DTC) referred to in the Blanket Issuer Letter of Representations (the "Letter of Representations") from the City to DTC. The bonds of this issue are issued under and in accordance with the provisions of the Constitution and applicable statutes of the State of Washington and Ordinance No. duly passed by the City Council on August 7, 2012 (the "Bond Ordinance"). Capitalized terms used in this bond have the meanings given such terms in the Bond Ordinance. This bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Bond Ordinance until the Certificate of -20- Limited Tax General Obligation Refunding Bonds, 2012 55 Authentication hereon shall have been manually signed by or on behalf of the Bond Registrar or its duly designated agent. This bond is one of an authorized issue of bonds of like series, date, tenor, rate of interest and date of maturity, except as to number and amount in the aggregate principal amount of $ and is issued pursuant to the Bond Ordinance to provide a portion of the funds necessary (a) to defease and refund certain limited tax general obligation bonds of the City, and (b) to pay costs of issuance. [Pursuant to the Bond Ordinance, the City also has authorized the issuance of its Limited Tax General Obligation Refunding Bonds, 2012[ ][(Taxable)] in the aggregate principal amount of $ for this purpose.] [The bonds of this issue are subject to redemption as provided in the Bond Ordinance and the Bond Purchase Contract.] [The bonds of this issue are not subject to redemption.] The City hereby irrevocably covenants and agrees with the owner of this bond that it will include in its annual budget and levy taxes annually, within and as a part of the tax levy permitted to the City without a vote of the electorate, upon all the property subject to taxation in amounts sufficient, together with other money legally available therefor, to pay the principal of and interest on this bond as the same shall become due. The full faith, credit and resources of the City are hereby irrevocably pledged for the annual levy and collection of such taxes and the prompt payment of such principal and interest. [The bonds of this issue have [not] been designated by the City as "qualified tax-exempt obligations" for investment by financial institutions under Section 265(b) of the Code.] The pledge of tax levies for payment of principal of and interest on the bonds may be discharged prior to maturity of the bonds by making provision for the payment thereof on the terms and conditions set forth in the Bond Ordinance. It is hereby certified that all acts, conditions and things required by the Constitution and statutes of the State of Washington to exist and to have happened, been done and performed precedent to and in the issuance of this bond exist and have happened, been done and performed and that the issuance of this bond and the bonds of this issue does not violate any constitutional, statutory or other limitation upon the amount of bonded indebtedness that the City may incur. -21- Limited Tax General Obligation Refunding Bonds, 2012 56 IN WITNESS WHEREOF, the City of Kent, Washington has caused this bond to be executed by the manual or facsimile signatures of the Mayor and the City Clerk and the seal of the City imprinted, impressed or otherwise reproduced hereon as of this day of , 2012. [SEAL] CITY OF KENT, WASHINGTON By /s/ manual or facsimile Mayor ATTEST: /s/ manual or facsimile City Clerk The Bond Registrar's Certificate of Authentication on the Bonds shall be in substantially the following form: CERTIFICATE OF AUTHENTICATION This bond is one of the bonds described in the within-mentioned Bond Ordinance and is one of the Limited Tax General Obligation Refunding Bonds, 2012[A][B (Taxable)] of the City of Kent, Washington, dated 2012. WASHINGTON STATE FISCAL AGENCY, as Bond Registrar By SECTION 6. - Execution of Bonds. The Bonds shall be executed on behalf of the City with the manual or facsimile signature of the Mayor and attested by the manual or facsimile signature of the City Clerk and the seal of the City shall be impressed, imprinted or otherwise reproduced thereon. Only such Bonds as shall bear thereon a Certificate of Authentication in the form hereinbefore recited, manually executed by the Bond Registrar, shall be valid or obligatory for any purpose or entitled to the benefits of this ordinance. Such Certificate of Authentication shall be conclusive evidence that the Bonds so -22- Limited Tax General Obligation Refunding Bonds, 2012 57 authenticated have been duly executed, authenticated and delivered hereunder and are entitled to the benefits of this ordinance. In case either of the officers who shall have executed the Bonds shall cease to be an officer or officers of the City before the Bonds so signed shall have been authenticated or delivered by the Bond Registrar, or issued by the City, such Bonds may nevertheless be authenticated, delivered and issued and upon such authentication, delivery and issuance, shall be as binding upon the City as though those who signed the same had continued to be such officers of the City. Any Bond may be signed and attested on behalf of the City by such persons who at the date of the actual execution of such Bond, are the proper officers of the City, although at the original date of such Bond any such person shall not have been such officer of the City. SECTION 7. - Refunding Plan; Application of Bond Proceeds. (a) Refunding Plan. For the purpose of realizing a debt service savings, the City proposes to defease and refund the Refunded Bonds as set forth herein. The Refunded Bonds shall include all or a portion of the Refunding Candidates as designated by the Designated Representative and set forth in the Bond Purchase Contract. Proceeds of the Bonds shall be deposited with the Escrow Agent pursuant to the Escrow Deposit Agreement to be used immediately upon receipt thereof to defease the Refunded Bonds as authorized by the 2000 Bond Ordinance and the 2002 Bond Ordinance, as applicable, and to pay costs of issuance of the Bonds. The net proceeds deposited with the Escrow Agent shall be used to defease the Refunded Bonds and discharge the obligations thereon by the purchase of certain Government Obligations (which obligations so purchased, are herein called -23- Limited Tax General Obligation Refunding Bonds, 2012 58 "Acquired Obligations"), bearing such interest and maturing as to principal and interest in such amounts and at such times which, together with any necessary beginning cash balance, will provide for the payment of: (1) interest on the Refunded Bonds as such becomes due on and prior to the applicable Call Date; and (2) the redemption price (100% of the principal amount) of the Refunded Bonds on the applicable Call Date. Such Acquired Obligations shall be purchased at a yield not greater than the yield permitted by the Code and regulations relating to acquired obligations in connection with refunding bond issues. (b) Escrow Agent/Escrow Deposit Agreement. The City hereby appoints U.S. Bank National Association, Seattle, Washington, as the Escrow Agent for the Refunded Bonds (the "Escrow Agent"). A beginning cash balance, if any, and the Acquired Obligations shall be deposited irrevocably with the Escrow Agent in an amount sufficient to defease the Refunded Bonds. The proceeds of the Bonds remaining after acquisition of the Acquired Obligations and provision for the necessary beginning cash balance shall be utilized to pay expenses of the acquisition and safekeeping of the Acquired Obligations and costs of issuance of the Bonds. In order to carry out the purposes of this Section 7, the Finance Director is authorized and directed to execute and deliver to the Escrow Agent, an Escrow Deposit Agreement. -24- Limited Tax General Obligation Refunding Bonds, 2012 59 (e) Call for Redemption of Refunded Bonds. The City hereby sets aside sufficient funds out of the purchase of Acquired Obligations from proceeds of the Bonds to make the payments described above. The City hereby calls the Refunded Bonds for redemption on their respective Call Date in accordance with the provisions of the 2000 Bond Ordinance and the 2002 Bond Ordinance authorizing the redemption and retirement of the 2000 Bonds and the 2002 Bonds, as applicable, prior to their fixed maturities. Said defeasance and call for redemption of the Refunded Bonds shall be irrevocable after the issuance of the Bonds and delivery of the Acquired Obligations to the Escrow Agent. The Escrow Agent is hereby authorized and directed to provide for the giving of notices of the redemption of the Refunded Bonds in accordance with the applicable provisions of the 2000 Bond Ordinance and the 2002 Bond Ordinance, as applicable. The costs of publication of such notices shall be an expense of the City. The Escrow Agent is hereby authorized and directed to pay to the Finance Director, or, at the direction of the Finance Director, to the paying agent for the Refunded Bonds, sums sufficient to pay, when due, the payments specified in this Section 7. All such sums shall be paid from the moneys and Acquired Obligations deposited with the Escrow Agent, and the income therefrom and proceeds thereof. All such sums so paid to or to the order of the Finance Director shall be credited to the Refunding Account. All moneys and Acquired Obligations deposited with the Escrow Agent and any income therefrom shall be held, invested (but only at the direction of the Finance Director) and applied in accordance with the provisions of -25- Limited Tax General Obligation Refunding Bonds, 2012 60 this ordinance and with the laws of the State of Washington for the benefit of the City and owners of the Refunded Bonds. The City will take such actions as are found necessary to see that all necessary and proper fees, compensation and expenses of the Escrow Agent for the Refunded Bonds shall be paid when due. SECTIONS. - Tax Covenants. The City covenants that it will not take or permit to be taken on its behalf any action that would adversely affect the exemption from federal income taxation of the interest on the Tax-Exempt Bonds and will take or require to be taken such acts as may reasonably be within its ability and as may from time to time be required under applicable law to continue the exemption from federal income taxation of the interest on the Tax-Exempt Bonds. (a) Arbitrage Covenant. Without limiting the generality of the foregoing, the City covenants that it will not take any action or fail to take any action with respect to the proceeds of sale of the Tax-Exempt Bonds or any other funds of the City which may be deemed to be proceeds of the Tax-Exempt Bonds pursuant to Section 148 of the Code and the regulations promulgated thereunder which, if such use had been reasonably expected on the dates of delivery of the Tax-Exempt Bonds to the initial purchasers thereof, would have caused the Tax-Exempt Bonds to be treated as "arbitrage bonds" within the meaning of such term as used in Section 148 of the Code. The City will comply with the requirements of Section 148 of the Code and the applicable regulations thereunder throughout the term of the Tax-Exempt Bonds. -26- Limited Tax General Obligation Refunding Bonds, 2012 61 (b) Private Person Use Limitation for Tax-Exempt Bonds. The City covenants that for as long as the Tax-Exempt Bonds are outstanding, it will not permit: (1) More than 10% of the Net Proceeds of the Tax-Exempt Bonds to be allocated to any Private Person Use; and (2) More than 10% of the principal or interest payments on the Tax- Exempt Bonds in a Bond Year to be directly or indirectly: (A) secured by any interest in property used or to be used for any Private Person Use or secured by payments in respect of property used or to be used for any Private Person Use, or (B) derived from payments (whether or not made to the City) in respect of property, or borrowed money, used or to be used for any Private Person Use. The City further covenants that, if: (3) More than five percent of the Net Proceeds of the Tax-Exempt Bonds are allocable to any Private Person Use; and (4) More than five percent of the principal or interest payments on the Tax-Exempt Bonds in a Bond Year are (under the terms of this ordinance or any underlying arrangement) directly or indirectly: (A) secured by any interest in property used or to be used for any Private Person Use or secured by payments in respect of property used or to be used for any Private Person Use, or (B) derived from payments (whether or not made to the City) in respect of property, or borrowed money, used or to be used for any Private Person Use, then, (i) any Private Person Use of the projects described in subsection (3) hereof or Private Person Use payments described in -27- Limited Tax General Obligation Refunding Bonds, 2012 62 subsection (4) hereof that is in excess of the five percent limitations described in such subsections (3) or (4) will be for a Private Person Use that is related to the state or local governmental use of the projects refunded by the proceeds of the Tax-Exempt Bonds, and (ii) any Private Person Use will not exceed the amount of Net Proceeds of the Tax-Exempt Bonds allocable to the state or local governmental use portion of the projects(s) to which the Private Person Use of such portion of the projects refunded by the proceeds of the Tax-Exempt Bonds relate. The City further covenants that it will comply with any limitations on the use of the projects refunded by the proceeds of the Tax-Exempt Bonds by other than state and local governmental users that are necessary, in the opinion of its bond counsel, to preserve the tax exemption of the interest on the Tax-Exempt Bonds. (c) Modification of Tax Covenants. The covenants of this section are specified solely to assure the continued exemption from regular income taxation of the interest on the Tax-Exempt Bonds. To that end, the provisions of this section may be modified or eliminated without any requirement for formal amendment thereof upon receipt of an opinion of the City's bond counsel that such modification or elimination will not adversely affect the tax exemption of interest on any Tax- Exempt Bonds. (d) The City hereby designates the Tax-Exempt Bonds as "qualified tax- exempt obligations" under Section 265(b)(3) of the Code for investment by financial institutions. The City reasonably does not expect to issue more than $10,000,000 in tax-exempt debt during calendar year 2012. -28- Limited Tax General Obligation Refunding Bonds, 2012 63 SECTION 9. - Bond Fund and Provision for Tax Levy Payments. The City hereby authorizes the creation of a fund to be used for the payment of debt service on the Bonds, designated as the "City of Kent Limited Tax General Obligation Bond Debt Service Fund, 2012" (the "Bond Fund"). No later than the date each payment of principal of or interest on the Bonds becomes due, the City shall transmit sufficient funds, from the Bond Fund or from other legally available sources, to the Bond Registrar for the payment of such principal or interest. Money in the Bond Fund may be invested in legal investments for City funds. The City hereby irrevocably covenants and agrees for as long as any of the Bonds are outstanding and unpaid that each year it will include in its budget and levy an ad valorem tax upon all the property within the City subject to taxation in an amount that will be sufficient, together with all other revenues and money of the City legally available for such purposes, to pay the principal of and interest on the Bonds when due. The City hereby irrevocably pledges that the annual tax provided for herein to be levied for the payment of such principal and interest shall be within and as a part of the tax levy permitted to cities without a vote of the people, and that a sufficient portion of each annual levy to be levied and collected by the City prior to the full payment of the principal of and interest on the Bonds will be and is hereby irrevocably set aside, pledged and appropriated for the payment of the principal of and interest on the Bonds. The full faith, credit and resources of the City are hereby irrevocably pledged for the annual levy and collection of said taxes and for the prompt payment of the principal of and interest on the Bonds when due. -29- Limited Tax General Obligation Refunding Bonds, 2012 64 SECTION 10. - Defeasance. In the event that the City, to effect the payment, retirement or redemption of any Bond, sets aside in the Bond Fund or in another special account, cash or noncallable Government Obligations, or any combination of cash and/or noncallable Government Obligations, in amounts and maturities which, together with the known earned income therefrom, are sufficient to redeem or pay and retire such Bond in accordance with its terms and to pay when due the interest and redemption premium, if any, thereon, and such cash and/or noncallable Government Obligations are irrevocably set aside and pledged for such purpose, then no further payments need be made into the Bond Fund for the payment of the principal of and interest on such Bond. The owner of a Bond so provided for shall cease to be entitled to any lien, benefit or security of this ordinance except the right to receive payment of principal, premium, if any, and interest from the Bond Fund or such special account, and such Bond shall be deemed to be not outstanding under this ordinance. The City shall give written notice of defeasance to the owners of all Bonds so provided for within 30 days of the defeasance and to each party entitled to receive notice in accordance with Section 12. SECTION 11. - Sale of Bonds. (a) Bond Sale. The Bonds shall be sold at negotiated sale to the Underwriters pursuant to the terms of the Bond Purchase Contract. The Underwriters have advised the Council that market conditions are fluctuating and, as a result, the most favorable market conditions may occur on a day other than a regular meeting date of the Council. The Council has determined that it would be in the best interest of the City to delegate to the Designated Representative for a -30- Limited Tax General Obligation Refunding Bonds, 2012 65 limited time the authority to approve the final interest rates, aggregate principal amount, principal amounts of each maturity of the Bonds, whether to issue the Bonds in one or more series, whether to designate the Bonds (or the Bonds of a series ) as Tax-Exempt Bonds or Taxable Bonds, selection of the Refunded Bonds, selection of the applicable Call Date, and redemption rights. The Designated Representative is hereby authorized to determine whether the Bonds shall be issued in one or more series, to determine whether the Bonds (or the Bonds of a series) shall be issued as Taxable Bonds or Tax-Exempt Bonds, to designate a portion or all of the Refunding Candidates as Refunded Bonds, and to approve the final interest rates, aggregate principal amount, principal amounts of each maturity of the Bonds, redemption rights for the Bonds and Call Dates for the Refunded Bonds in the manner provided hereafter so long as (i) the aggregate principal amount of the Bonds does not exceed $13,000,000, (ii) the final maturity date for the Bonds is no later than December 1, 2022, (iii) the Bonds are sold (in the aggregate) at a price not less than 97% and not greater than 120%, (iv) the Bonds are sold for a price that results in a minimum net present value debt service savings over the 2000 Refunded Bonds of at least 8.00% and over the 2002 Refunded Bonds of at least 8.00%, (v) the true interest cost for the Bonds (in the aggregate) does not exceed 3.25%; and (vi) the Bonds conform to all other terms of this ordinance. In determining whether the Bonds shall be issued in one or more series, whether the Bonds (or the Bonds of a series) shall be issued as Taxable Bonds or Tax-Exempt Bonds, and final interest rates, maturity dates, aggregate principal amount, principal amounts of each maturity of the Bonds, terms of redemption and -31- Limited Tax General Obligation Refunding Bonds, 2012 66 redemption rights, the Designated Representative, shall take into account those factors that, in his or her judgment, will result in the lowest true interest cost on the Bonds to their maturity or date of prior redemption, including, but not limited to current financial market conditions and current interest rates for obligations comparable in tenor and quality to the Bonds. Subject to the terms and conditions set forth in this section, the Designated Representative is hereby authorized to execute the Bond Purchase Contract. Following the execution of the Bond Purchase Contract, the Finance Director shall provide a report to the Council describing the final terms of the Bonds approved pursuant to the authority delegated in this section. The authority granted to the Designated Representative by this Section 11 shall expire 120 days after the effective date of this ordinance. If a Bond Purchase Contract for the Bonds has not been executed within 120 days after the effective date of this ordinance, the authorization for the issuance of the Bonds shall be rescinded, and the Bonds shall not be issued nor their sale approved unless such Bonds shall have been re- authorized by ordinance of the Council. The ordinance re-authorizing the issuance and sale of such Bonds may be in the form of a new ordinance repealing this ordinance in whole or in part or may be in the form of an amendatory ordinance approving a bond purchase contract or establishing terms and conditions for the authority delegated under this Section 11. (b) Delivery of Bonds, Documentation. Upon the passage and approval of this ordinance, the proper officials of the City, including the Finance Director and City Manager, are authorized and directed to undertake all action necessary for the prompt execution and delivery of the Bonds to the Underwriters and further to -32- Limited Tax General Obligation Refunding Bonds, 2012 67 execute all closing certificates and documents required to effect the closing and delivery of the Bonds in accordance with the terms of this ordinance and the Bond Purchase Contract. (c) Preliminary and Final Official Statements. The Finance Director is hereby authorized to ratify and to deem final the preliminary Official Statement relating to the Bonds for the purposes of the Rule. The Finance Director is further authorized to ratify and to approve for purposes of the Rule, on behalf of the City, the final Official Statement relating to the issuance and sale of the Bonds and the distribution of the final Official Statement pursuant thereto with such changes, if any, as may be deemed by her to be appropriate. SECTION 12. - Undertaking to Provide Ongoing Disclosure. (a) Contract/Undertaking. This section constitutes the City's written undertaking for the benefit of the owners, including Beneficial Owners, of the Bonds as required by Section (b)(5) of the Rule. (b) Financial Statements/Operating Data. The City agrees to provide or cause to be provided to the Municipal Securities Rulemaking Board ("MSRB"), the following annual financial information and operating data for the prior fiscal year (commencing in 2012 for the fiscal year ended December 31, 2011): 1. Annual financial statements, which statements may or may not be audited, showing ending fund balances for the City's general fund prepared in accordance with the Budgeting Accounting and Reporting System prescribed by the Washington State Auditor pursuant to RCW 43.09.200 (or any successor statute) and generally of the type included in the official statement for the Bonds under the -33- Limited Tax General Obligation Refunding Bonds, 2012 68 heading "Comparative General Fund Statement of Revenues, Expenditures and Changes in Fund Balance"; 2. The assessed valuation of taxable property in the City; 3. Ad valorem taxes due and percentage of taxes collected; 4. Property tax levy rate per $1,000 of assessed valuation; and 5. Outstanding general obligation debt of the City. Items 2-5 shall be required only to the extent that such information is not included in the annual financial statements. The information and data described above shall be provided on or before nine months after the end of the City's fiscal year. The City's current fiscal year ends December 31. The City may adjust such fiscal year by providing written notice of the change of fiscal year to the MSRB. In lieu of providing such annual financial information and operating data, the City may cross-reference to other documents available to the public on the MSRB's internet website or filed with the Commission. If not provided as part of the annual financial information discussed above, the City shall provide to the MSRB the City's audited annual financial statements prepared in accordance with the Budgeting Accounting and Reporting System prescribed by the Washington State Auditor pursuant to RCW 43.09.200 (or any successor statute) when and if available. (c) Listed Events. The City agrees to provide or cause to be provided to the MSRB, in a timely manner not in excess of ten business days after the occurrence of the event, notice of the occurrence of any of the following events with respect to the Bonds: • Principal and interest payment delinquencies; -34- Limited Tax General Obligation Refunding Bonds, 2012 69 • Non-payment related defaults, if material; • Unscheduled draws on debt service reserves reflecting financial difficulties; • Unscheduled draws on credit enhancements reflecting financial difficulties; • Substitution of credit or liquidity providers, or their failure to perform; • Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds; • Modifications to the rights of Bondholders, if material; • Bond calls, if material, and tender offers; • Defeasances; • Release, substitution, or sale of property securing repayment of the Bonds, if material; • Rating changes; • Bankruptcy, insolvency, receivership or similar event of the City; • The consummation of a merger, consolidation, or acquisition involving the City or the sale of all or substantially all of the assets of the City, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and -35- Limited Tax General Obligation Refunding Bonds, 2012 70 • Appointment of a successor or additional trustee or the change of name of a trustee, if material. The City shall promptly determine whether the events described above are material. Solely for purposes of disclosure, and not intending to modify this undertaking, the City advises that no debt service reserves or property secures payment of the Bonds. (d) Format for Filings with the MSRB. All notices, financial information and operating data required by this undertaking to be provided to the MSRB must be in an electronic format as prescribed by the MSRB. All documents provided to the MSRB pursuant to this undertaking must be accompanied by identifying information as prescribed by the MSRB. (e) Notification Upon Failure to Provide Financial Data. The City agrees to provide or cause to be provided, in a timely manner, to the MSRB notice of its failure to provide the annual financial information described in Subsection (b) above on or prior to the date set forth in Subsection (b) above. (f) Termination/Modification. The City's obligations to provide annual financial information and notices of certain listed events shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. Any provision of this section shall be null and void if the City (1) obtains an opinion of nationally recognized bond counsel to the effect that the portion of the Rule that requires that provision is invalid, has been repealed retroactively or otherwise does not apply to the Bonds and (2) notifies the MSRB of such opinion and the cancellation of this section. -36- Limited Tax General Obligation Refunding Bonds, 2012 71 The City may amend this section with an opinion of nationally recognized bond counsel in accordance with the Rule. In the event of any amendment of this section, the City shall describe such amendment in the next annual report, and shall include a narrative explanation of the reason for the amendment and its impact on the type (or in the case of a change of accounting principles, on the presentation) of financial information or operating data being presented by the City. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (A) notice of such change shall be given in the same manner as for a listed event under Subsection (c), and (B) the annual report for the year in which the change is made shall present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. (g) Bond Owner's Remedies Under This Section. The right of any bondowner or Beneficial Owner of Bonds to enforce the provisions of this section shall be limited to a right to obtain specific enforcement of the City's obligations under this section, and any failure by the City to comply with the provisions of this undertaking shall not be an event of default with respect to the Bonds. (h) No Default. Except as otherwise disclosed in the City's official statement relating to the Bonds, the City is not and has not been in default in the performance of its obligations of any prior undertaking for ongoing disclosure with respect to its obligations. SECTION 13. - Lost, Stolen or Destroyed Bonds. In case any Bond or Bonds shall be lost, stolen or destroyed, the Bond Registrar may execute and -37- Limited Tax General Obligation Refunding Bonds, 2012 72 deliver a new Bond or Bonds of like date, number and tenor to the Registered Owner thereof upon the Registered Owner's paying the expenses and charges of the City and the Bond Registrar in connection therewith and upon his/her filing with the City evidence satisfactory to the City that such Bond was actually lost, stolen or destroyed and of his/her ownership thereof, and upon furnishing the City and/or the Bond Registrar with indemnity satisfactory to the City and the Bond Registrar. SECTION 14. - Severability; Ratification. If any one or more of the covenants or agreements provided in this ordinance to be performed on the part of the City shall be declared by any court of competent jurisdiction to be contrary to law, then such covenant or covenants, agreement or agreements, shall be null and void and shall be deemed separable from the remaining covenants and agreements of this ordinance and shall in no way affect the validity of the other provisions of this ordinance or of the Bonds. All acts taken pursuant to the authority granted in this ordinance but prior to its effective date are hereby ratified and confirmed. -38- Limited Tax General Obligation Refunding Bonds, 2012 73 SECTION 15. - Effective Date of Ordinance. This ordinance shall take effect and be in force five days after its passage, approval, and publication as provided by law. Adopted by the City Council of the City of Kent, Washington, at a regular meeting thereof held this 7th of August, 2012. By Suzette Cooke, Mayor ATTEST Brenda Jacober, City Clerk APPROVED AS TO FORM: PACIFICA LAW GROUP LLP Bond Counsel PASSED: of August, 2012 APPROVED: of August, 2012 PUBLISHED: of August, 2012 39- Limited Tax General Obligation Refunding Bonds, 2012 74 CERTIFICATION I, the undersigned, City Clerk of the City of Kent, Washington (the "City"), hereby certify as follows: 1. The attached copy of Ordinance No. (the "Ordinance") is a full, true and correct copy of an ordinance duly passed at a regular meeting of the City Council of the City held at the regular time and meeting place thereof on August 7, 2012, as that ordinance appears on the minute book of the City; and the Ordinance will be in full force and effect after its passage; and 2. A quorum of the members of the City Council was present throughout the meeting and a majority of those members present voted in the proper manner for the passage of the Ordinance. IN WITNESS WHEREOF, I have hereunto set my hand this 7th day of August, 2012. CITY OF KENT, WASHINGTON Brenda Jacober, City Clerk 75 City of Kent, Washington Summary Financial Report 4^0 KEN T WASH IN G T O N As of June 30, 2012 76 City of Kent MONTHLY FINANCIAL REPORT Table of Contents EXECUTIVE SUMMARY AND GRAPHIC ANALYSIS Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 General Fund Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 General Fund Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 PropertyTax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 SalesTax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 UtilityTax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Building Permits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Plan Check Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Recreation Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Fines And Forfeitures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Water Operating Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Sewer&Drainage Operating Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Golf Operating Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 CURRENT BUDGET ANALYSIS General Fund Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Annexation Budget Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Street Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Lodging Tax Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Youth/Teen Programs Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Capital Improvement Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Criminal Justice Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Golf Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 INTERNAL SERVICE FUNDS PROFIT AND LOSS Fleet Services Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Central Services Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Information Technology Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Facilities Operating Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Unemployment Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Workers Compensation Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Health and Employee Wellness Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 LEOFF 1 Retirees Benefits Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Liability Insurance Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Property Insurance Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 REVENUE AND EXPENSE SUMMARIES Monthly Comparison 2009,2010,2011 and 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 System Reports General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Special Revenue Operating Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Debt Service Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Water Utility Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 Sewerage Utility Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Golf Course Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Internal Services-excluding Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Insurance Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 Street Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 Parks Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 Other Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Technology Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Facilities Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Water Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 Sewerage Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 77 City Of Kent Monthly Financial Summary for June 2012 General Fund Summary Based on information available through June, ending fund balance will grow by $485,310 and is estimated to end the year at $1,784,093 or 3.2% of the expenditure budget. Revenues Overall revenues are estimated to end the year approximately $522,715 under budget. Sales and utility taxes are currently lagging below budget, while permits, plan check fees, recreation fees and miscellaneous revenues are trending above budget. Highlights include: • Sales Tax revenues are no longer showing a slight improvement over last year. If the current lag continues, sales tax revenues are estimated to end the year about 5.3%, or $870,000 below budget. • Utility Tax revenues are expected to come in slightly below budget. • The Washington State budget cut Liquor Excise Tax distributions to local governments for their fiscal year July 2012 thru June 2013. As a result, these revenues are expected to come in about $284,800 under budget; $221,000 reflected in the General Fund and $63,800 in Annexation. The reduction for July thru December 2012 has been fully offset by $314,115 in one-time additional revenues received from the disposal of state liquor stores. • Building Permits and Plan Check Fees combined thru June are up 34.2% from the same time last year. This is the fifth consecutive month of double digit increases over last year, which indicates a strong upward trend. These revenues are projected to end the year about $170,340 above budget. • Recreation Fees are expected to end the year about $29,300 above budget. Expenditures Current projections end the year at about $960,843 or 1.6% below the budget. A continued lag in hiring is expected to contribute towards expenditures coming in below budget, as well as savings in supplies and services. Fund Balance The expected savings in expenditures offsets lagging revenues and grows fund balance by $485,310. Ending fund balance is estimated to be $1,784,093, which equates to 3.2% of the expenditure budget. 78 General Fund Revenues (excluding Annexation) 12,000,000 10,000,000 A 8,000,000 6,000,000 a � � 4,000,000 2,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual 11 Act 112Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 3,289,156 3,214,732 4,791,631 9,749,613 3,973,008 4,571,406 3,174,325 2,683,261 4,065,667 9,139,978 3,703,200 4,150,377 12 Bud 3,216,683 3,020,904 4,466,303 11,104,686 5,097,029 4,213,632 2,954,538 2,559,372 4,064,231 10,502,190 3,961,210 4,813,837 12 Pct 3,110,563 3,667,409 4,646,335 9,549,882 5,254,735 4,492,624 +/- (106,120) 646,505 180,032 (1,554,804) 157,706 278,992 Put+/- -3.3% 21.4% 4.0% -14.0% 3.1% 6.6% General Fund Revenues (excluding Annexation) 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 i0 20,000,000 10,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12Bud Cumulative Budget vs Actual """11AG .12Ac[ ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 3,289,156 6,503,888 11,295,520 21,045,133 25,018,141 29,589,547 32,763,872 35,447,133 39,512,801 48,652,]]9 52,355,979 56,506,356 12 Bud 3,216,683 6,237,587 10,703,889 21,808,576 26,905,604 31,119,236 34,073,774 36,633,146 40,697,376 51,199,566 55,160,776 59,974,613 12 Pct 3,110,563 6,777,971 11,424,306 20,974,188 26,228,923 30,721,547 +/- (106,120) 540,385 720,416 (834,388) (676,681) (397,689) Put+/- -3.3% 8.7% 6.7% -3.8% -2.5% -1.3% 79 General Fund Expenditures (excluding Annexation) 6,000,000 5,000,000 �r 4,000,000 r 3,000,000 2,000,000 1,000,000 p Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual 11 Act 112Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 4,004,555 4,278,233 4,703,037 4,008,910 4,394,052 4,164,634 5,111,082 3,976,956 4,404,857 4,523,901 4,650,263 4,193,905 12 Bud 4,880,512 4,749,884 5,195,308 4,899,159 5,278,802 4,612,117 5,224,612 4,007,453 4,862,527 4,581,178 5,052,962 4,163,945 12 Pct 3,920,818 4,780,445 4,613,724 4,565,843 4,731,962 4,442,759 +/- (959,694) 30,560 (581,583) (333,316) (546,840) (169,358) Put+/- -19J% 0.6% -11.2% -6.8% -10.4% -3J% General Fund Expenditures (excluding Annexation) 70,000,000 60,000,000 50,000,000 era„ 40,000,000 30,000,00020,000,000 ,v 10,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12Bud Cumulative Budget vs Actual """11AG .12Ac[ ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 4,004,555 8,282,789 12,985,826 16,994,736 21,388,789 25,553,423 30,664,505 34,641,461 39,046,318 43,570,220 48,220,483 52,414,388 12 Bud 4,880,512 9,630,397 14,825,704 19,724,864 25,003,666 29,615,782 34,840,395 38,847,848 43,]10,3]5 48,291,553 53,344,514 57,508,459 12 Pct 3,920,818 8,701,263 13,314,987 17,880,830 22,612,792 27,055,551 +/- (959,694) (929,134) (1,510,718) (1,844,034) (2,390,874) (2,560,232) Put+/- -19J% -9.6% -10.2% -9.3% -9.6% -8.6% 80 Property Tax (excluding Annexation) 8,000,000 7,000,000 6,000,000 A, 5,000,000 4,000,000 3,000,000 2,000,000 hl 1,000,000 1+� %v Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12Bud Monthly Budget vs Adjusted Actual uf 11 Act �12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 0 180,243 523,653 6,751,005 1,184,844 40,525 4,748 87,368 337,694 6,203,844 1,162,259 113,146 12 Bud 0 139,100 449,571 6,738,625 1,405,042 47,966 33,479 78,856 310,128 6,329,055 1,284,910 140,584 12 Pct (3,392) 119,956 411,883 6,005,997 2,213,628 112,122 +/- (3,392) (19,144) (37,688) (732,628) 808,586 64,156 Put+/- 0.0% -13.8% -8.4% -10.9% 57.5% 133.8% Property Tax (excluding Annexation) 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Alt t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 0 180,243 703,896 7,454,901 8,639,745 8,680,270 8,685,018 8,772,386 9,110,080 15,313,924 16,476,183 16,589,329 12 Bud 0 139,100 588,671 7,327,297 8,732,339 8,780,305 8,813,783 8,892,640 9,202,767 15,531,822 16,816,732 16,957,316 12 Pct (3,392) 116,564 528,447 6,534,444 8,]48,0]2 8,860,194 +/- (3,392) (22,536) (60,224) (792,852) 15,733 79,889 Put+/- 0.0% -16.2% -10.2% -10.8% 0.2% 0.9% 81 Sales Tax (excluding Annexation) 2,500,000 2,000,000 lsfv 1,500,000 G / 4 1,000,000 YlpYm/n/rr/ /qG 500,000 0 4 ...4 ... 4 4 ... .4.. 4 4 .... Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual -"Aa t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 880,130 1,258,493 2,090,512 788,947 1,008,194 2,291,698 966,265 1,017,202 2,146,124 942,125 1,022,236 2,176,465 12 Bud 862,666 1,200,527 2,059,348 827,708 1,035,860 2,212,480 891,739 997,704 2,175,858 940,256 1,030,527 2,268,108 12 Pct 907,756 1,198,096 2,014,990 810,864 882,252 1,878,097 +/- 45,089 (2,431) (44,358) (16,844) (153,608) (334,383) Put+/- 5.2% -0.2% -2.2% -2.0% -14.8% -15.1% Sales Tax (excluding Annexation) 18,000,000 16,000,000 +n, 14,000,000 ^2/F 12,000,000 i 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 „ 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 880,130 2,138,623 4,229,135 5,018,082 6,026,276 8,317,974 9,284,239 10,301,441 12,447,565 13,389,690 14,411,926 16,588,391 12 Bud 862,666 2,063,193 4,122,541 4,950,249 5,986,109 8,198,589 9,090,327 10,088,031 12,263,889 13,204,146 14,234,673 16,502,781 12 Pct 907,756 2,105,852 4,120,842 4,931,706 5,813,958 7,692,054 +/- 45,089 42,658 (1,699) (18,543) (172,151) (506,534) Put+/- 5.2% 2.1% 0.0% -0.4% -2.9% -6.2% 82 Utility Tax (excluding Annexation) 2,000,000 1,800,000 1,600,000 d/ 1,200,000 1,000,000 800,000 600,000 ,,,.,yid///// 400,000 200,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12Bud Monthly Budget vs Adjusted Actual ft 11 Act .12Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 1,477,066 1,079,613 1,190,380 1,272,756 979,284 1,103,687 1,222,489 763,421 677,848 1,097,386 872,585 937,859 12 Bud 1,720,720 1,291,641 1,318,059 1,527,083 1,200,384 1,234,212 1,419,607 1,035,936 1,017,397 1,364,774 1,100,522 1,054,900 12 Pct 1,619,454 1,288,955 1,221,167 1,511,280 1,087,909 1,154,716 +/- (101,267) (2,685) (96,892) (15,803) (112,475) (79,496) Pct+/- -5.9% -0.2% -7.4% -1.0% -9.4% -6.4% Utility Tax (excluding Annexation) 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 oYj�r 8,000,000 6,000,000 4,000,000 2,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12Bud ✓...11 Alt Cumulative Budget vs Actual 12Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 1,477,066 2,556,679 3,747,059 5,019,815 5,999,099 7,102,786 8,325,276 9,088,696 9,766,544 10,863,930 11,736,516 12,674,375 12 Bud 1,720,720 3,012,361 4,330,420 5,857,503 7,057,887 8,292,099 9,711,706 10,747,642 11,765,039 13,129,814 14,230,335 15,285,235 12 Pct 1,619,454 2,908,409 4,129,576 5,640,855 6,728,764 7,883,480 +/- (101,267) (103,952) (200,844) (216,647) (329,123) (408,618) Pct+/- -5.9% -3.5% -4.6% -3J% -4J% -4.9% 83 Building Permits (excluding Annexation) 250,000 200,000 150,000 i, M �a ids+,.., 100,000 50,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual SSA.[ t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 58,256 69,498 143,089 194,314 96,717 165,124 112,325 152,484 126,708 114,693 125,660 139,655 12 Bud 41,614 85,293 145,074 161,756 188,720 204,250 190,921 164,584 130,526 114,024 102,443 94,802 12 Pct 25,055 172,710 167,250 183,913 184,131 198,651 +/- (16,559) 87,416 22,176 22,157 (4,589) (5,599) Put+/- -39.8% 102.5% 15.3% 13.7% -2.4% -2J% Building Permits (excluding Annexation) 1,800,000 1,600,000 1,400,000 1,200,000 u.Z 1,000,000 800,000 600,000 400,000 200,000 /ct, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Act t 12AR ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 58,256 127,754 270,843 465,157 561,874 726,998 839,323 991,807 1,118,515 1,233,209 1,358,869 1,498,524 12 Bud 41,614 126,908 271,981 433,737 622,457 826,707 1,017,627 1,182,211 1,312,737 1,426,761 1,529,204 1,624,006 12 Pct 25,055 197,765 365,015 548,927 733,058 931,709 +/- (16,559) 70,857 93,033 115,190 110,601 105,002 Put+/- -39.8% 55.8% 34.2% 26.6% 17.8% 12.7% 84 Plan Check Fees (excluding Annexation) 200,000 180,000 160,000 140,000 120,000 100,000 ! k' 80,000 ,�^ ol 60,000 40,000 20,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual ..Aa t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 52,177 69,976 90,348 114,538 99,915 156,022 78,574 114,226 86,540 65,284 111,525 73,676 12 Bud 68,035 142,983 142,766 159,183 162,336 171,478 154,661 142,284 128,450 112,211 112,001 101,788 12 Pct 66,766 141,814 114,843 169,667 148,793 184,929 +/- (1,269) (1,168) (27,923) 10,484 (13,543) 13,451 Put+/- -1.9% -0.8% -19.6% 6.6% -8.3% 7.8% Plan Check Fees (excluding Annexation) 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 ,- 800,000 c� 600,000 400,000 200,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 52,177 122,153 212,501 327,039 426,954 582,976 661,550 775,777 862,317 927,601 1,039,127 1,112,803 12 Bud 68,035 211,017 353,783 512,967 675,303 846,781 1,001,442 1,143,726 1,272,176 1,384,387 1,496,388 1,598,176 12 Pct 66,766 208,580 323,423 493,090 641,884 826,813 +/- (1,269) (2,437) (30,361) (19,877) (33,419) (19,968) Put+/- -1.9% -1.2% -8.6% -3.9% -4.9% -2.4% 85 Recreation Fees (excluding Annexation) 250,000 200,000 100,000 50,000 °j0m i 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual ..Aa t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 90,442 30,061 115,292 196,017 76,769 40,512 139,797 103,175 147,392 42,461 43,398 106,335 12 Bud 99,705 35,295 73,739 196,228 74,532 40,951 141,314 104,294 148,991 42,922 43,869 107,489 12 Pct 106,827 39,771 90,603 192,227 70,696 50,428 +/- 7,123 4,476 16,864 (4,001) (3,836) 9,476 Put+/- 7.1% 12.7% 22.9% -2.0% -5.1% 23.1% Recreation Fees (excluding Annexation) 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 90,442 120,503 235,795 431,812 508,581 549,093 688,890 792,065 939,456 981,918 1,025,316 1,131,651 12 Bud 99,705 134,999 208,738 404,966 479,499 520,450 661,764 766,058 915,048 957,970 1,001,839 1,109,328 12 Pct 106,827 146,598 237,200 429,427 500,124 550,551 +/- 7,123 11,598 28,462 24,461 20,625 30,101 Pct+/- 7.1% 8.6% 13.6% 6.0A 4.3A 5.8A 86 Fines & Forfeitures (excluding Annexation) 180,000 160,000 140,000 A 120,000 Gig',"u, , ,,,... i11Y1' ......alai.. g/P.........................1/0'!. ,,,,,,,//i, 100,000 80,000 60,000 40,000 20,000 p Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual -."Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 120,297 138,193 159,857 132,864 126,771 124,272 125,723 149,747 124,193 121,304 118,703 118,480 12 Bud 118,990 139,141 154,404 135,034 118,505 132,628 117,475 138,632 119,428 112,842 104,943 106,939 12 Pct 88,688 128,588 148,075 129,454 123,587 121,287 +/- (30,302) (10,553) (6,330) (5,579) 5,082 (11,341) Put+/- -25.5% -7.6% -4.1% -4.1% 4.3% -8.6% Fines & Forfeitures (excluding Annexation) 1,800,000 1,600,000 p, 1,400,000 1,200,000 --/ 1,000,000 800,000 c„ 600,000 200,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud 11 Act Cumulative Budget vs Actual t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 120,297 258,489 418,346 551,210 677,981 802,253 927,976 1,077,722 1,201,915 1,323,220 1,441,923 1,560,403 12 Bud 118,990 258,131 412,535 547,569 666,074 798,702 916,177 1,054,809 1,174,236 1,287,078 1,392,021 1,498,960 12 Pct 88,688 217,276 365,351 494,805 618,392 739,679 +/- (30,302) (40,855) (47,185) (52,764) (47,682) (59,023) Put+/- -25.5% -15.8% -11.4% -9.6% -7.2% -7.4% 87 Water Operating Revenues (excluding Annexation) 2,500,000 2,000,000 ��1 41 1,500,000 msi� "//,';� 1,000,000 " "' "' yr 500,000 p Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual -."Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 1,287,443 992,936 1,079,243 1,033,639 1,260,273 1,314,426 1,710,389 1,564,575 1,982,268 1,399,436 996,767 1,363,229 12 Bud 1,340,004 1,015,549 1,055,626 1,063,072 1,314,926 1,373,475 1,656,790 1,713,451 2,045,330 1,290,923 1,077,039 1,310,206 12 Pct 1,327,353 1,012,681 1,027,632 1,044,570 1,367,405 1,428,526 +/- (12,650) (2,868) (27,994) (18,501) 52,478 55,051 Put+/- -0.9% -0.3% -2J% -1J% 4.0% 4.0% Water Operating Revenues (excluding Annexation) 18,000,000 16,000,000 am 14,000,000 5,/' , — 12,000,000 10,000,000 „ 8,000,000 6,000,000 4,000,000 2,000,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud 11 Act Cumulative Budget vs Actual t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 1,287,443 2,280,379 3,359,622 4,393,261 5,653,534 6,967,960 8,678,349 10,242,924 12,225,192 13,624,628 14,621,396 15,984,625 12 Bud 1,340,004 2,355,553 3,411,179 4,474,251 5,789,177 7,162,652 8,819,442 10,532,893 12,578,224 13,869,147 14,946,186 16,256,392 12 Pct 1,327,353 2,340,035 3,367,667 4,412,237 5,779,642 7,208,168 +/- (12,650) (15,518) (43,512) (62,013) (9,535) 45,516 Put+/- -0.9% -0J% -1.3% -1.4% -0.2% 0.6% 88 Sewer and Drainage Operating Revenues (excluding Annexation) 4,000,000 3,500,000 3,000,000 �d 1ryG �. y/me" 2,500,000 2,000,000 1,500,000 1,000,000 500,000 p Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual 9 11 Act 112Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 3,439,530 2,901,019 3,181,459 3,290,332 3,121,048 3,022,877 3,674,916 3,031,060 3,512,992 3,088,626 2,689,774 3,564,352 12 Bud 3,299,376 2,772,650 2,994,070 3,114,719 3,013,243 2,939,628 3,394,588 2,962,163 3,257,839 3,001,131 2,785,909 3,343,292 12 Pct 3,473,066 2,988,938 3,081,870 3,390,448 3,234,163 3,098,707 +/- 173,690 216,288 87,800 275,729 220,920 159,079 Put+/- 5.3% 7.8% 2.9% 8.9% 7.3% 5.4% Sewer and Drainage Operation Revenues (excluding Annexation) 45,000,000 40,000,000 35,000,000 pp, 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 - 5,000,000 Or Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud 11 Alt Cumulative Budget vs Actual t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 3,439,530 6,340,550 9,522,009 12,812,341 15,933,389 18,956,266 22,631,182 25,662,242 29,175,234 32,263,860 34,953,634 38,517,986 12 Bud 3,299,376 6,072,027 9,066,097 12,180,816 15,194,059 18,133,687 21,528,275 24,490,437 27,748,277 30,]49,40] 33,535,316 36,878,608 12 Pct 3,473,066 6,462,004 9,543,874 12,934,322 16,168,486 19,267,192 +/- 173,690 389,977 477,777 753,506 974,426 1,133,506 Put+/- 5.3% 6.4% 5.3% 6.2% 6.4% 6.3% 89 Golf Operating Revenues (excluding Annexation) 600,000 5 00,000 400,000 300,000 200,000 100,000 ill�6< p Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Monthly Budget vs Adjusted Actual ......a1Act 112Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 63,971 102,256 142,969 225,930 233,397 317,321 368,596 367,101 238,734 166,476 78,990 143,288 12 Bud 102,819 137,258 186,137 274,712 304,421 408,348 488,967 476,903 298,682 209,635 108,]]6 157,685 12 Pct 66,561 93,636 125,860 246,460 284,901 311,823 +/- (36,259) (43,622) (60,276) (28,252) (19,520) (96,525) Put+/- -35.3% -31.8% -32.4% -10.3% -6.4% -23.6% Golf Operating Revenues (excluding Annexation) 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 v„ 500,000 1,000,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 12 Bud Cumulative Budget vs Actual 11 Act t 12 Act ]an Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Pct 63,971 166,227 309,196 535,126 768,523 1,085,844 1,454,440 1,821,541 2,060,275 2,226,751 2,305,741 2,449,029 12 Bud 102,819 240,078 426,215 700,927 1,005,348 1,413,696 1,902,663 2,379,566 2,678,247 2,887,883 2,996,659 3,154,344 12 Pct 66,561 160,197 286,058 532,518 817,419 1,129,242 +/- (36,259) (79,881) (140,157) (168,409) (187,929) (284,454) Pct+/- -35.3A -33.3% -32.9% -24.0A -18.7A -20.1A 90 GENERAL FUND (without Annexation) As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Fund Balance 2,182,698 2,199,554 1,298,783 1,298,783 Revenues Taxes: Property 16,589,329 16,957,316 8,860,194 17,065,395 Sales Tax 16,588,391 16,502,781 7,692,054 15,632,570 Utility 12,674,375 15,285,235 7,883,481 15,177,892 Other 794,095 786,518 262,652 817,754 Licenses and Permits 2,237,590 2,479,461 1,682,586 2,623,473 Intergovernmental Revenue 1,440,895 1,280,706 913,012 1,283,691 A Charges for Services 3,411,504 3,996,731 2,045,697 4,118,642 Fines and Forfeitures 1,543,311 1,498,960 730,951 1,496,029 Miscellaneous Revenue 1,209,774 1,186,905 642,192 1,236,452 Transfers In 1,001,277 975,000 975,000 TOTAL REVENUES 57,490,541 60,949,613 30,712,819 60,426,898 Expenditures Salaries & Benefits 41,058,578 43,144,850 21,022,037 42,876,034 Supplies 1,699,727 2,174,335 939,315 2,029,314 Services & Charges 19,962,057 22,867,129 10,332,106 22,162,105 Capital Outlay 20,416 55,000 55,000 Cost Allocations (10,326,390) (10,714,861) (5,237,904) (10,556,843) Transfers Out 5,960,068 3,375,978 141,273 3,375,978 TOTAL EXPENDITURES 58,374,456 60,902,431 27,196,827 59,941,588 Net Revenues less Expenditures (883,915) 47,182 3,515,992 485,310 Ending Fund Balance 1,298,783 2,246,736 1,784,093 Target for Contingency 5,241,439 5,752,645 5,656,561 Difference (3,942,656) (3,505,909) (3,872,468) 2.5% 3.9% 3.2% Major Drivers: A - WA State budget cut Liquor Excise Tax to local governments for their FY July 2012 thru June 2013. As a result, estimated actuals are reduced by $221,000 for July-Dec 2012. The 2012 reduction has been fully offset by $243,753 in one-time additional revenues received from the disposal of state liquor stores. 91 ANNEXATION As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Fund Balance (1,356,589) (988,677) (655,268) (655,268) Revenues Taxes: Property 2,778,301 2,824,923 1,475,685 2,833,988 Sales Tax 4,199,570 4,212,630 2,093,786 4,256,194 Utility 2,869,930 2,582,602 1,402,316 2,694,819 Other 336,295 385,400 112,508 359,108 Licenses and Permits 11,431 6,378 6,378 Intergovernmental Revenue 1,089,069 929,407 519,126 938,819 A Charges for Services 6,176 1,214 1,214 TOTAL REVENUES 11,290,772 10,934,962 5,611,013 11,090,520 Expenditures Salaries & Benefits 5,797,107 5,259,167 2,344,382 5,095,582 Supplies 461,091 763,215 87,656 599,656 Services & Charges 4,336,902 4,823,770 2,183,980 4,646,979 Capital Outlay 112,156 Cost Allocations (117,805) (15,570) (15,570) TOTAL EXPENDITURES 10,589,451 10,846,152 4,600,448 10,326,647 Net Revenues less Expenditures 701,321 88,810 1,010,565 763,873 Ending Fund Balance (655,268) (899,867) 108,605 Major Drivers: A - WA State budget cut Liquor Excise Tax to local governments for their FY July 2012 thru June 2013. As a result, estimated actuals are reduced by $63,800 for July-Dec 2012. The 2012 reduction has been fully offset by $70,362 in one-time additional revenues received from the disposal of state liquor stores. 92 STREET OPERATING FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Fund Balance (1,402,940) 355,417 355,417 355,417 Revenues Fuel Tax - Unrestricted 1,809,260 1,934,060 880,561 1,905,049 Water Utility Tax 158,630 165,694 71,776 161,802 Sewer Utility Tax 225,584 228,153 109,719 225,584 Drainage Utility Tax 157,496 167,553 82,520 172,320 Electric Utility Tax 1,110,606 1,081,102 585,054 1,143,925 Gas Utility Tax 385,646 377,313 250,915 401,072 Garbage Utility Tax 215,379 204,536 68,311 173,856 Telephone Utility Tax 685,771 676,428 358,040 686,457 Miscellaneous Revenues (33,535) (33,535) Transfers In 2,105,000 Total Revenues 6,853,374 4,834,839 2,373,360 4,836,530 Total Resources 5,450,434 5,190,256 2,728,777 5,191,947 Expenditures&Transfers Debt Service PW Trust Fund Loan 800,835 797,201 797,200 797,201 LTGO Bonds 2000 202,899 203,679 28,775 203,679 LTGO Bonds 2002 647,206 650,056 105,159 650,056 GO Refund (96) 2004 151,806 136,393 23,028 136,393 GO Refund 2005 (93,95,00,96TF) 38,016 37,789 16,086 37,789 LTGO Bonds 2008 449,880 487,066 144,807 487,066 LTGO Bonds 2009 207,797 207,213 26,050 207,213 Total Debt Service 2,498,438 2,519,397 1,141,104 2,519,397 Operating Costs Street Utility Operations 2,062,248 1,742,774 884,031 1,742,774 Street Tree Maintenance Program 240,239 249,834 109,531 249,834 Engineering Services Allocation 259,359 264,546 132,273 264,546 Total Operating Costs 2,561,846 2,257,154 1,125,835 2,257,154 Arterials 84th Avenue Rehabilitation 137,733 4th Avenue Improvement 999,127 212th UPRR/BN Grade Separation 95,813 BNSF Grade Separation 459,525 Closed and other Arterial Projects (1,689,479) (7,228) (7,228) Total Arterials 2,719 (7,228) (7,228) Intersection Improvements Traffic Signal Control Cabinets (6,845) Signal Battery Backup 961 Closed and Other Intersection Imps (100,000) Total Intersection Improvements (105,884) Other Improvements Transportation Master Plan 6,017 Mero Transit Services 35,000 155,000 155,000 Russell Road Maint Facility 67,108 2nd Avenue Pedestrian Imp 29,772 Total Other Improvements 137,898 155,000 155,000 Total Effective Transportation System 2,596,579 2,412,154 1,118,608 2,404,926 Total Expense &Transportation 5,095,017 4,931,551 2,259,712 4,924,323 Change In Fund Balance 1,758,357 (96,712) 113,648 (87,793) Ending Fund Balance 355,417 258,705 469,066 267,624 93 LODGING TAX OPERATING FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Fund Balance 48,624 86,810 86,810 86,810 Revenues Lodging Tax 182,840 181,160 78,195 190,154 Miscellaneous Income 33 300 46 66 Total Revenues 182,873 181,460 78,241 190,219 Total Resources 231,498 268,270 165,051 277,029 Expenditures Seattle Southside Visitor Services 120,000 120,000 60,000 120,000 Tourism Unallocated 5,000 20,000 5,000 20,000 Tourism Chamber 18,500 18,500 4,625 18,500 Miscellaneous Revenue Total Expenditures 143,500 158,500 69,625 158,500 Transfers Out - ShoWare Marquee Project 1,188 Total Expenditures and Transfers 144,688 158,500 69,625 158,500 Change in Fund Balance 38,186 22,960 8,616 31,719 Ending Fund Balance 86,810 109,770 95,426 118,529 94 YOUTH/TEEN PROGRAMS OPERATING FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual BEGINNING FUND BALANCE (57,001) 20,579 20,579 20,579 REVENUES Utility Taxes: Water 47,589 52,279 21,533 54,217 Sewer 67,675 68,437 32,916 70,452 Drainage 47,249 50,476 24,756 53,309 Electric 333,182 338,293 175,516 345,874 Gas 115,694 115,261 75,275 119,011 Garbage 64,614 61,481 20,493 63,934 Telephone 205,731 202,928 107,412 202,361 Miscellaneous Revenues 223 474 119 238 TOTAL REVENUES 881,957 889,629 458,019 909,397 TOTAL RESOURCES 824,956 910,208 478,599 929,976 EXPENDITURES Valued Government Services Transfer Out - General Fund Teen Programs 762,377 775,000 775,000 Teen Golf Program 42,000 42,000 42,000 TOTAL EXPENDITURES (TRANSFERS) 804,377 817,000 817,000 Change In Fund Balance 77,580 72,629 458,019 92,397 ENDING FUND BALANCE 20,579 93,208 478,599 112,976 95 CAPITAL IMPROVEMENT OPERATING FUND Including Both Portions of Estate Excise Taxes As of June 30, 2012 2011 2012 2012 2012 Actuals Budget YTD Est Actual Total Beginning Fund Balance (8,209,839) (12,052,614) (12,052,614) (12,052,614) Revenues & Other Fin Sources Sales Tax 3,784,084 4,855,698 2,037,849 4,359,265 Real Estate Excise Tax 1,050,162 925,272 660,721 1,148,819 Real Estate Excise Tax-2nd Qtr 1,050,162 925,272 660,721 1,148,819 Real Estate Excise Tax-St Percent 134,852 17,565 17,565 Miscellaneous Revenues 3,381 3,518 1,556 3,518 Transfer In - Facilities 260,000 260,000 260,000 Sale of Property 6,000,000 6,000,000 Long-Term Leases 100,000 Transfer In - GF 450,000 2,090,929 2,090,929 Total Rev/Other Fin Sources 6,572,640 15,060,689 3,638,413 15,028,916 Total Resources (1,637,199) 3,008,075 (8,414,202) 2,976,301 Expenditures (Transfers) Debt Service Non-Voted Debt Service 7,533 2,964 2,964 LTGO Bonds 2000 539,945 542,021 76,575 542,021 Valley Communications 157,790 250,030 14,000 250,030 LTGO Bonds 2002 508,244 510,393 82,566 510,393 LTGO / Taxable Bonds 2003 666,259 667,275 45,137 667,275 GO Refund (96) 2004 1,611,435 1,447,830 244,441 1,447,830 GO Refund 2005 (93,95,00,96TF) 63,492 63,112 26,865 63,112 LTGO Bonds 2006 782,000 770,000 235,000 770,000 LTGO Bonds 2008 1,418,970 1,412,334 419,893 1,412,334 GO Refund 2009 (Part 1999) 723,670 721,641 90,723 721,641 ShoWare Debt Service 2,793,077 2,500,000 1,337,668 2,500,000 Subtotal Debt Service 9,272,415 8,884,636 2,575,832 8,887,600 Facilities Floor Coverings (51) HVAC Lifecycle Replacements 205,000 75,000 75,000 75,000 Kent Meridian Pool Repairs/Mtc 78,288 25,000 25,000 25,000 Parks Maintenance Shop Renovation 35,000 35,000 35,000 Public Building Major Maintenance 2,876 50,000 50,000 50,000 Sealcoat Parking Lots 35,000 35,000 35,000 Security Camera Software Upgrade 40,000 40,000 40,000 Closed and Other Facilities Projects (181,114) Subtotal Facilities 105,000 260,000 260,000 260,000 Information Technology Hardware Lifecycle Replacmnts 120,000 120,000 Technology Projects 1,007,500 1,007,500 Closed & Other Info Tech Projects Subtotal Information Technology 0 1,127,500 0 1,127,500 96 CAPITAL IMPROVEMENT OPERATING FUND Including Both Portions of Estate Excise Taxes As of June 30, 2012 2011 2012 2012 2012 Actuals Budget YTD Est Actual Parks Adopt-a-Park Program 38,516 Eagle Scout Projects 26,873 Earthworks Stairs 75,000 Kent Parks Foundation 23,127 Lake Meridian Play Equipment 41,283 Lifecycle Parks System 18,434 400,000 400,000 Park Land Acquisition 707,401 Park Master Plans 6,526 Rental Houses Demolition 25,000 Town Square Park 19,270 Turnkey Neighborhood Park 42,179 Urban Forestry 5,000 15,000 15,000 Closed and Other Parks Projects (315,608) (450,000) (450,000) (450,000) Subtotal Parks 713,000 (35,000) (450,000) (35,000) Public Safety Closed & Other Public Safety Projects Subtotal Public Safety 0 0 0 0 Other Event Center Lifecycle 300,000 300,000 300,000 Neighborhood Matching Grants 25,000 Street Projects 1,007,500 1,007,500 Subtotal Other 325,000 1,307,500 0 1,307,500 Total Expenditures (Transfers) 10,415,415 11,544,636 2,385,832 11,547,600 Change in Fund Balance (3,842,776) 3,516,053 1,252,581 3,481,316 Total Ending Fund Balance (12,052,614) (8,536,561) (10,800,033) (8,571,299) 97 CRIMINAL JUSTICE OPERATING FUND June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Fund Balance (737,912) 327,985 327,985 327,985 Revenues Sales Tax - Local Option (1) 1,847,825 1,792,028 900,024 1,805,242 MVET - Basic Crime 140,978 185,500 92,623 185,246 MVET - High Crime 88,583 92,080 47,716 95,432 MVET - Special Programs 70,949 74,453 38,021 76,042 Miscellaneous Revenues 865 51 103 Transfers In 980,000 Total Revenues 3,128,335 2,144,926 1,078,436 2,162,065 Total Resources 2,390,422 2,472,911 1,406,420 2,490,050 Expenditures Law Salaries & Benefits 605,802 634,513 277,552 608,006 Supplies 20,265 30,194 7,573 30,194 Services & Charges 11,745 22,684 4,613 18,432 Domestic Violence Salaries & Benefits 247,605 186,473 92,971 160,105 Services & Charges 8,861 8,037 3,808 8,740 KYFS - Youth Violence Prevention Services & Charges 25,000 25,000 25,000 Police Salaries & Benefits 1,058,299 1,126,892 491,501 1,036,836 Supplies 31,837 49,298 11,128 45,772 Services & Charges 36,524 87,691 17,002 57,555 Total Expenditures 2,045,938 2,170,782 906,148 1,990,639 Transfers Out 16,500 16,500 16,500 Total Expenditures and Transfers 2,062,438 2,187,282 906,148 2,007,139 Increase (Decrease) In Fund Balance 1,065,897 (42,356) 172,288 154,926 Ending Fund Balance 327,985 285,629 500,273 482,911 (1) Council resolution allocated 11% of Criminal Justice sales tax to Domestic Violence. 98 GOLF OPERATING FUND As of June 30, 2012 2011 2012 2012 2012 Actuals Budget YTD Est Actual Beginning Working Capital (1,780,721) (2,174,297) (2,174,297) (2,174,297) Revenues 18 Hole Course Green Fees 1,022,112 1,438,000 440,981 1,186,037 Cart & Club Rentals 141,477 204,000 62,141 165,839 Restaurant Lease 50,724 60,000 18,712 56,975 Par 3 Course Green Fees 222,051 285,000 91,420 242,960 Cart & Club Rentals 12,082 14,000 4,480 12,801 Food & Beverage Sales 11,065 20,000 4,367 15,111 Driving Range Driving Range Fees 449,488 415,000 209,470 465,085 Mini Putt Fees 23,909 60,000 13,400 40,759 Lesson Fees 86,947 120,000 39,451 102,100 Cart & Club Rentals 756 1,302 1,302 Food & Beverage Sales 29,464 35,000 14,305 35,624 Merchandising Merchandise Sales 449,538 563,344 246,935 494,492 Other Insurance Reimbursement 115,861 115,861 Miscellaneous Revenues 1,498 3,332 3,332 Driving Range Cell Tower Lease 20,100 10,264 20,529 Total Revenues 2,521,209 3,214,344 1,276,421 2,958,806 Total Resources 740,488 1,040,047 (897,876) 784,509 Expenditures (Transfers) 18 Hole Course 1,751,861 1,683,062 772,516 1,683,062 Par 3 Course 308,692 325,284 149,387 325,284 Driving Range 408,786 452,223 189,079 452,223 Merchandising 442,200 549,161 231,687 499,161 Repair Damaged Assets 117,861 117,861 Other Expenses 3,246 2,517 2,517 Total Expenditures (Transfers) 2,914,785 3,009,730 1,463,048 3,080,108 Net Change in Working Capital (393,576) 204,614 (186,627) (121,302) Total Working Capital (2,174,297) (1,969,683) (2,360,924) (2,295,599) 99 FLEET SERVICES FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 2,483,059 2,628,235 2,628,235 2,628,235 Operating Revenue Fleet Operations 3,058,613 2,805,692 1,453,711 2,861,806 Fleet Replacement 367,422 372,616 187,438 372,616 Miscellaneous Revenues 3,590 13,835 1,445 12,165 Total Operating Revenue 3,429,625 3,192,143 1,642,594 3,246,587 Total Resources 5,912,684 5,820,378 4,270,829 5,874,822 Expenditures Salaries & Benefits 761,307 808,986 402,269 792,806 Supplies 1,365,507 1,413,345 901,031 1,413,345 Services 704,829 754,789 432,064 754,789 Capital Outlay 238,385 1,385,511 520,101 1,385,511 Total Expenditures 3,070,027 4,362,631 2,255,465 4,346,451 Transfers Out 214,422 Total Expenses and Transfers 3,284,449 4,362,631 2,255,465 4,346,451 Net Change In Working Capital 145,176 (1,170,488) (612,872) (1,099,864) Total Working Capital 2,628,235 1,457,747 2,015,363 1,528,371 100 CENTRAL SERVICES FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital (66,659) (122,352) (122,352) (122,352) REVENUE Central Stores 132,922 236,376 47,093 134,406 Postage 200,572 355,264 92,521 215,739 Total Revenue 333,495 591,640 139,614 350,145 Total Resources 266,836 469,288 17,262 227,794 EXPENSE Central Stores 130,063 203,386 42,798 123,372 Postage 240,201 273,096 113,575 237,558 Central Services 18,923 19,301 9,651 19,301 Total Expense 389,187 495,783 166,024 380,231 Net Operating Income (55,693) 95,857 (26,410) (30,086) Ending Working Capital (122,352) (26,495) (148,762) (152,437) 101 INFORMATION TECHNOLOGY FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital (203) 399,972 399,972 399,972 Revenues Contributions & Other 4,139,517 4,670,110 2,252,728 4,540,110 Intergovernmental - RFA 445,964 410,839 189,738 410,839 Technology Fees 240,000 202,447 321,147 Total Revenue 4,585,481 5,320,949 2,644,913 5,272,096 Total Resources 4,585,278 5,720,921 3,044,886 5,672,068 Expenditures Computer Systems & Tech Svcs Salaries & Benefits 1,608,751 2,232,566 1,097,431 2,194,862 Supplies 95,662 41,923 44,123 58,413 Services & Charges 1,116,749 1,214,957 735,099 1,214,957 Subtotal 2,821,162 3,489,446 1,876,654 3,468,232 Telecommunications Salaries & Benefits 140,210 149,266 73,787 147,574 Supplies 19,643 14,496 1,033 14,496 Services & Charges 311,469 396,600 155,880 376,600 Subtotal 471,322 560,362 230,700 538,670 Printing/Graphics/Cable TV Salaries & Benefits 551,459 561,238 284,608 556,238 Supplies 38,785 74,389 18,488 38,128 Services & Charges 302,578 318,994 139,208 318,994 Subtotal 892,822 954,621 442,304 913,360 Total Operating Expense 4,185,306 5,004,429 2,549,658 4,920,262 Transfers Out-LT Lifecycle 240,000 202,454 321,147 Total Exp & Transfers 4,185,306 5,244,429 2,752,112 5,241,409 Net Income 400,176 76,520 (107,199) 30,687 Ending Working Capital 399,972 476,492 292,773 430,659 102 FACILITIES OPERATING FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 1,526 306,190 306,190 306,190 Operating Revenue Intergovernmental -RFA 677,689 852,227 421,658 843,316 Rental Fees - Internal 3,869,088 4,240,371 2,120,185 4,240,371 Leases 156,692 13,460 26,919 Miscellaneous Revenue 12,429 77,378 13,029 24,768 Total Revenue 4,715,898 5,169,976 2,568,332 5,135,374 Total Resources 4,717,424 5,476,166 2,874,522 5,441,564 Operating Expense Salaries and benefits 2,271,279 2,435,914 1,075,324 2,287,817 Supplies 291,157 371,171 117,124 308,539 Services and charges 4,209,918 1,983,085 861,284 1,983,085 Cost allocation (2,514,022) Total Operating Expense 4,258,332 4,830,670 2,053,731 4,579,441 Other Financial Uses Transfers Out - Projects 260,000 260,000 260,000 Transfers Out - Debt 152,903 152,903 76,452 152,903 Total Non Operating Rev (Exp) 152,903 412,903 336,452 412,903 Total Expenses and Uses 4,411,235 5,243,573 2,390,183 4,992,344 Net Change In Working Capital 304,663 (73,597) 178,150 143,030 Ending Working Capital 306,190 232,593 484,339 449,220 103 UNEMPLOYMENT FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 42,250 201,790 201,790 201,790 Revenues Contributions 401,758 402,324 195,997 391,995 Miscellaneous Revenue 197 100 109 219 Total Revenues 401,956 402,424 196,107 392,213 Total Resources 444,205 604,214 397,897 594,003 Expenditures Salaries & Benefits 25,966 24,706 10,123 20,246 Supplies 250 4,095 2,048 Claims Paid 1st Quarter 43,309 100,000 77,395 77,395 2nd Quarter 59,289 100,000 101,465 101,465 3rd Quarter 37,379 100,000 100,000 4th Quarter 73,425 100,000 100,000 Other Services & Charges 2,796 4,987 1,631 3,262 Total Expenditures 242,415 433,788 190,614 404,416 Net Income 159,541 (31,364) 5,492 (12,203) Ending Working Capital 201,790 170,426 207,282 189,587 104 WORKERS COMPENSATION FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital (128,109) (509,195) (509,195) (509,195) Revenues Contributions 1,405,995 1,816,362 791,941 1,783,882 Miscellaneous Revenue 2,744 5,000 1,253 2,507 Total Revenue 1,408,740 1,821,362 793,194 1,786,388 Total Resources 1,280,631 1,312,167 283,999 1,277,193 Expenditures Salaries & Benefits 105,315 109,148 40,492 98,159 Judgements & Damages 820,745 992,168 302,868 874,972 Ultimate Loss Adjustment 563,979 Liability Insurance 60,636 76,700 43,329 69,699 Intergovernmental Services 137,804 204,000 62,114 128,734 Administrative Expenses 59,153 52,723 30,077 58,537 Debt & Financial services 9,916 Other Expenses 18,650 16,302 2,504 16,302 Safety Program 23,544 88,492 2,412 16,598 Total Expenditures 1,789,826 1,549,449 483,796 1,263,000 Net Income (381,086) 271,913 309,398 523,388 Ending Working Capital (509,195) (237,282) (199,797) 14,193 Claims Reserve* Reserve Amount 2,433,563 2,433,563 2,433,563 2,433,563 Actuary Recommended 2,293,198 2,293,198 2,293,198 2,293,198 'Claims reserve is not included in ending working capital. It is adjusted annually on December 31 st. The variance between reserve amount booked and actuary recommended amount is due to a timing difference between when the actual entries must be made versus receipt of the actuary report. 105 HEALTH AND EMPLOYEE WELLNESS FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 3,219,631 4,634,833 4,634,833 4,634,833 Revenues Contributions Blue Cross 9,019,416 9,149,130 4,607,555 9,215,111 Group Health 411,121 471,704 198,170 396,340 Employee Share Blue Cross 915,841 993,399 460,161 920,323 Group Health 53,183 61,640 25,565 51,130 RFA Contributions 3,732,861 3,789,581 1,629,531 3,259,061 COBRA 123,219 82,173 84,293 135,540 Miscellaneous 179,176 141,017 102,230 188,894 Total Revenue 14,434,817 14,688,644 7,107,505 14,166,399 Total Resources 17,654,448 19,323,477 11,742,338 18,801,232 Expenditures Salaries & Benefits 317,259 350,273 165,228 330,457 Blue Cross Claims 10,547,107 10,467,322 5,357,327 11,393,741 Blue Cross Admin Fees 657,522 570,188 285,636 571,273 Blue Cross Audit Fees 58,169 58,169 Delta Dental Claims 978,315 1,010,993 543,264 1,086,527 Delta Dental Admin Fees 53,133 49,858 31,431 62,863 Vision Service Plan Claims 125,750 144,947 65,445 130,891 Vision Service Plan Admin Fees 27,195 22,277 13,421 26,842 Stop Loss Fees 397,437 469,598 236,224 439,953 Stop Loss Reimbursements (410,512) (349,793) (349,793) Group Health Premiums 464,304 461,973 223,735 447,470 IBNR Adjustment (173,300) 113,700 113,700 Wellness 12,100 57,172 4,736 15,129 Other Professional Services 23,305 52,254 10,922 21,371 Total Expenditures 13,019,615 13,478,931 6,937,369 14,348,592 Change in Working Capital 1,415,202 1,209,713 170,136 (182,193) Ending Working Capital 4,634,833 5,844,546 4,804,969 4,452,639 IBNR 863,400 977,100 977,100 Target Fund Bal @ 2 X IBNR 1,726,800 1,954,200 1,954,200 Ending Working Capital Less IBNR 2,908,033 3,890,346 4,804,969 2,498,439 106 LEOFF 1 RETIREES BENEFITS FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 647,099 527,368 527,368 527,368 Revenues Contributions 623,268 757,949 301,744 604,310 Contributions - Dependents 108,855 121,418 33,300 82,479 Miscellaneous Revenue 1,042 2,500 334 669 Total Revenues 733,165 881,867 335,378 687,458 Operating Transfers In 250,000 250,000 250,000 Total Resources 1,630,264 1,659,235 862,746 1,464,825 Expenditures Blue Cross Claims 810,202 714,122 350,324 703,306 Blue Cross Admin Fees 57,803 60,600 26,121 56,434 Delta Dental Claims 44,601 45,880 20,447 46,008 Delta Dental Admin Fees 4,415 4,680 2,733 5,079 Vision Service Plan Claims 7,066 5,512 1,888 5,488 Vision Service Plan Admin Fees 1,718 1,768 894 1,768 Stop Loss Reimbursements (25,000) (12,498) Stop Loss Fees 34,450 50,425 21,237 43,336 IBNR Adjustment 19,500 8,000 8,000 Medical Reimbursements 119,207 197,327 57,379 114,757 Other Professional Services 3,934 15,863 8,081 15,863 Total Expenditures 1,102,897 1,079,177 489,104 987,541 Change in Fund Balance (119,732) 52,690 (153,726) (50,083) Ending Working Capital 527,368 580,058 373,642 477,284 IBNR 67,100 75,100 75,100 Target Fund Bal @ 2 X IBNR 134,200 150,200 150,200 Ending Working Capital Less IBNR 393,168 429,858 373,642 327,084 107 LIABILITY INSURANCE FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 163,462 831,667 831,667 831,667 Revenues Contributions 2,295,112 2,341,016 1,170,150 2,340,300 Miscellaneous Revenue 4,061 4,000 1,863 3,727 Total Revenues 2,299,173 2,345,016 1,172,014 2,344,027 Total Resources 2,462,635 3,176,683 2,003,680 3,175,694 Expenditures Salaries & Benefits 103,864 98,806 40,492 80,983 Claims & Judgements 568,796 1,466,936 103,481 1,016,936 Insurance Premiums 830,422 685,476 658,354 685,476 Other Expenses 127,886 196,900 88,875 129,098 Total Expenditures 1,630,968 2,448,118 891,202 1,912,493 Net Income 668,205 (103,102) 280,812 431,534 Ending Working Capital 831,667 728,565 1,112,479 1,263,201 Claims Reserve* Reserve Amount 21171,321 2,171,321 2,171,321 2,171,321 Actuary Recommended 1,964,167 1,964,167 1,964,167 1,964,167 'Claims reserve is not included in ending working capital. It is adjusted annually on December 31 st. The variance between reserve amount booked and actuary recommended amount is due to a timing difference between when the actual entries must be made versus receipt of the actuary report. 108 PROPERTY INSURANCE FUND As of June 30, 2012 2011 2012 2012 2012 Actual Budget YTD Est Actual Beginning Working Capital 70,267 104,731 104,731 104,731 Revenues Contributions 444,697 453,593 226,797 453,593 Miscellaneous Revenue 20 100 56 56 Total Revenues 444,717 453,693 226,852 453,649 Total Resources 514,984 558,424 331,584 558,380 Expenditures Insurance Premiums 384,285 386,131 111,402 386,131 Property Claims/Deductibles 24,684 10,000 24,684 Other Expenses 25,967 24,706 10,123 24,706 Total Expenditures 410,253 435,521 131,525 435,521 Net Income 34,464 18,172 95,328 18,128 Working Capital 104,731 122,903 200,059 122,859 !„ z < ! ® = ® > \ \ \ 7 ± \ \ \ \ _ KktfEKflt ( ( ( ( K \ ( \ 7KfK ± fk \ 7 ( ( ( \ f5ff & \ ( ( \ ( ( 7f \ k ( \ K \ ( f ( f ± KK \ K7 ( 7 k ( & 4fK ( K \ f \ ; K / ! > ! ) ; { ! 110 \ \ � C-N \ \ \ � C-N C-N \ ( \ \ \ \ \ \ . \ Till \ \ \ . \ \ \ \ k \ \ \ \ } \ \ ) \ \ \ \ _ . } j ) ) } { } ! ) ) ! ` 1 _ ) ) | / : : Zi ) } � \ ! ) - 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U ii O m Q U U w U x a a m ii m m x W 114 v o d o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 m L C Ol N r (O OJ O IV r V IV O T T l0 O O (O T O a V N (O O Ifl M O N M l0 OJ � r (O M T Ifl IV N IV � (O OJ V O OJ � O Ifl (O l0 r N OJ M IV M M OJ OJ OJ d d m T OJ OJ O T T O OJ O T T T T OJ V O r OJ � OJ Y O O N o m N O N r Ifl M Ifl l0 Ifl r M M M l0 r T T O N V V (O l0 M l0 d (O rn r r r v (O T N OJ Ifl � l0 � V T T N N IV V V V w O (p 11l 11l M M N M T M M N V O T V OJ V V OJ OJ T O M � N �Iq O T T O V V N M N IV � OJ m r r OJ M M Ifl V IV r r M T Ifl T Ifl r N IV M M IV M m OJ m OJ f V OJ T T N O M O r V V r r r r O Ifl Ifl OJ M (O IV OJ N (O r M T IV T M M N IV IV O y O OJ N r M T cy V C, Ifl r N O V N T N IV V V T M CO � Ifl � T T Co IV V Ifl T Ifl Q o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C N V M T c O Ifl M r l0 O (O O T c O O OJ O IV d a N M O N O (O E (I T Ifl OR M � O r (O l0 O M y d co V N O T r O N M OJ OJ Ifl N V N Ifl (O l0 V V V a N V V V ifl V V ifl V ifl V V V V V N ifl M V ifl N V C jp C m O O (O (O T l0 OJ Ifl (O T O T T (O N M N V V T OJ l0 �( d O O N OJ M M M l0 O Ifl (O OJ O M M OJ N M N C N ifl OJ (O Cl' V V ifl N' N' ifl t0' M 00' O OJ OJ V m T c M OJ IV r M r V N T OJ N O N T C K a (p N Ifl N V M 1 r (O (O N cl c M l`M T M yN y L IV Ifl N IV co M M V d > O y ' C m r r OJ M M Ifl V IV r r M T Ifl T Ifl r N c M M l0 « d y L ' q d M OJ OJ OJ OJ f V OJ T T N O M O r V V r r r r r �" Ifl Ifl M (O IV OJ N (O r M T IV N V T M M N IV IV O U d o oS oS o5 o v v co u� �c o5 05 r" v o oS v r" d o (9 '� O 0 OJ N r M T l0 V C, Ifl r N O V N T N IV V V T c y « M � Ifl � T T Co IV V Ifl T Ifl b O r OJ M OJ r V N V O m l0 T r O M M IV IV OJ T O (O OJ l0 (O OJ l0 V M r M O N r r � M M (O (O l0 OJ ID O T M N O V N N IV N OJ d M m r 0 m O2 O2 r (O M a; N M c l0 Cl T N T T MO M O OJ T N N V I f V O O M V T ow Ifl m (O O T O r N OJ N T N IV T Ifl M r V (O Ifl O r J (O V r T M T M r T r OJ N Ifl N (O OJ OJ OJ O O V T (O OJ M r (O Ifl T (O N T N (O r N O (O l0 � N OJ N N r N V (O (O l0 T O � (O (O IV T OJ O T OJ r r M M T OJ T OI O V M O Ifl l0 T a N OJ V M cl M co V r r = M � M N N E m O E � � m y d u L — U U U O y d coC N i N N d C o w d o U o m a m Y p r D d d 0 05 N d O 05 d 'm m d a °tl y w m O d a D) N D) C O « o d N O c N y c 'c m y o c d c y c U 5 u w v1 a a U m m m d F > o y — — — _ — a m U m a c H m m U 2 c m ~ y y Z d oCl) m �o m o o « F m is v1 v1 vdi vdi a m E -�5 -�5 K m o c of � w 115 N O � m L C Ol O M N T r r IT CON M N r V M T M y T M OJ OJ OJ OJ OJ N OJ r OJ l0 r r N N N N N T N T OJ O M (O N (O N r OJ T T N OJ r V N M OJ (O V O M N OJ (O T O (O M O O T O T T OJ O O r r T N M (O T T r T T T T T N o m N O M M (O (O N M N N N V (O T OJ T (O M T N V N N N r (O r r V r N d OJ OJ m T (O O r M M O V N OJ ( O T V N N N N T M T T T N CO M CD CD CO < < ITT m M m M IT CDOq IT CDO T O( V O � r V OJ V Co O W O m m N N (O N T - 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I y y O i Z « U � L o a o N o m a ma d (7 ° O w c 'u K m d a � � H w 119 M c I o 0 0 0 0 0 0 O = = m m r O M O O O O mr O N IV r r r M T OJ OJ OJ Y O O N o m N O r r M V O d N N M (O T IV N IV IV O a r (O M N r r r 00 r L c W O 11l 11l V OJ N OJ O O O r r_ (O V T_ T T N L M V OJ T V V V V d d > ° Ia N (O M r r (O l0 l0 M M Ifl N OJ OJ OJ r O N O ON T M M N N N N C aI o 000 0 00 0 d O m m OR M M M y d O Ifl (O V OJ T T T a N i O Ifl N M M � I d _ ifl N C, cl l0 Ifl T co M M M M T m m w y v a0 0o 06 O o o w L ° ` I d O � d y d a roi c c U N u M� � CO CO m CO ao ao 0 O LLM'i LLM'i ON T t00 1� N N a x ' I Ifl T OJ M M V V V T (O T Or Or" N IV IV d of r r r 05 ao ao m V M OJ OJ M M M � N N IV N IV IV I co � Ifl co Co V O O O co co M T IV OJ OJ OJ � OJ OJ m O V M (O l0 l0 O T N c N IV c mI I I I I IC I d N U E O d d o m u F d 0 d d u y c � m a O m Q O w c m m 120 a o 0 0 0 0 0 0 0 0 0 0 O L C OI OJ r (O OJ T IV M OJ Ifl OJ OJ O 'O (O T N O O (O O O r r 00 V r O V V O O) N N d d m OJ OJ O � O) T r N O OJ OJ Y O O N o m d T T O M OJ Ifl l0 M OJ N � � IV a (O (O T M N O O Ifl OJ OJ l0 l0 IV r L C N N m� (O � (O (O � OJ � Ifl r W O V V (O OJ Ifl M Ifl O (O V IV IV OJ '�. N N V M OJ OJ l0 Ifl N OJ l0 l0 T Y a m (O O V OO ll (O V N N N (O IDO r r Ifl OJ T M M � O O OJ O OJ OJ Ifl N O I� M Cl Cl M S y O OJ O V r N f V OJ O N T T r T OJ OJ c d c c c c c c e c c c e e a C f0 O V OJ M T Ifl M N V N T T d a O M V (O O O M Ifl Ifl OJ OJ y d O V N M Ifl r l0 Ifl O V IV IV d N O V V ifl ifl V V M (O ifl V V a C O Ifl N r O Ifl O O T N IV IV IV d D1 N T N r r M M IV (O m N Cl Ifl m V V V IV OJ V Ifl m (O r r ID r O M M l0 Ifl Ifl r CO (O r r N d Y a roi c c « j a � d rn rn m O V of LO V tY N b n m c0 c0 m IDo r o LO w rn M M r V « U O Q N N O OJ O OJ OJ Ifl M O r M IV IV O d �( V V OJ O V r N OJ OJ O N r NM OJ OJ O Y N r M N r r OJ M M M l0 Ifl CO r r r N (O O O IV d � OJ I� � OJ Ifl N r OJ V O O V V M W T V M t0 t0 r CO N (O M A N OJ S O T T IV CNI N N (O LO V CO N (O OJ ly0 ly0 OI N N N O N V O OJ LO V LO N N M m N Y U 0 ca C d d U c m - U z O m Q a 0 0 w c m m p, O 121 O M � o m o 0 m O 'O I� V T (O Ifl Ifl r N OJ V N O O d d m (O O V T K O O OJ Ifl T V � OJ OJ Y O O N o m �+ m T T Ifl O O N Ifl M Ifl c V T M l0 l0 OJ d OJ OJ T O T I� Ifl N N OJ OJ V r O O O a 6 6 � � c o o rn m W O I� r 11l (p r N M (O OJ N M r r N OJ m m M LL� N CD CIL O N M M O Yal OJ O Ifl (O I� (O N IV N O V N Ifl M M m T ifl T of ifl N (O N IV r V N O m Ifl r m N T O I� N OJ M N Cl Ifl OJ OJ O N N N l0 N l0 H O N OJ M T M T m LO M V V V V CO CD m M Ifl Ifl T Ifl CO m m O c d c c c c c c c o c c c c c e e a c N o r rn o (o r o v M rn rn b b OR d N O M Ifl N V Ifl Ifl l0 V N V N Ifl � � a j m O T r M T V M M (O M r M N w w N C p M Ifl I� T T (O N IV M N N (O O O OJ d p V m m C6 W W V V (O N M Ifl N N O w N T m OJ OJ I� r Ifl (O V � N O a; M Ifl OJ M (O (O N M M O V V V r K V � fl M OJ r � N OJ O m m O a a °' LO M OJ C « IV d N d L IV IV LL d O N 'r a c p y x y = a roi c c O = d C m m W O Ifl (O I� (O N N O V N Ifl M M OJ p) d T T OJ Cf � ' m Ifl m Ifl I� M CO r O N N OJ r O Ifl r M N N IV U i U d O O T O I� N OJ M N Cl Ifl OJ OJ O N N N r d x0 CO CD CNI O D r r N OJ M T M T (O M LO CD M V V V Om N ' I � O O N V V O (O OJ Ifl N M M O I OJ OJ V V M O Ifl (O � Ifl M � Ifl I� � M OJ OJ M I� OJ Ifl T M IVCI T O N T V l0 l0 l0 Ifl Ifl N M T T O (O V I� OJ O T O O O O OJ O (O N T O V N N V l0 l0 y I� r OJ T Ifl c T N r OJ V m N N I� (O M COOJ N r M m OJ W OJ IV mI I I I I I N C U V U J C N N a i an d E m N U N w v d m o — a LL m xf c o o c w � . . y y d mm N ? N m > c ? n y o 0 o y y a d d > > o c !i c Q a a m J 0 d L N o a d > «'a 9 9 9 s s x m LL 3 - U 2 z o m Q a a a 0 0 w c m m a p, m v Q F F H x H W 122 N � L C Ol r V M c N IV IV O a N N N N IV IV w co rn � r r r d d m O O r M T T T Y O O N o m � O M M M OJ OJ (O l0 l0 OJ d m co v rn v r rn m m a N N V M OJ N O O O N r O r r OJ (O N N IV IV yr W N M N M T T T N N T O O OJ OJ OJ OJ r (O V V O O O l0 m � N O T W r m b b W c V V It � a c c o 0 0 0 0 0 0 0 d a O N N (O l0 (O l0 l0 i a j p� O O T N V V N IV IV IV C a r M OJ OJ OJ c d N N OJ OJ (O l0 l0 1 y0 1 y0 T K a d N c LL O y x y m a r�i c c O � d C M M N T O M OJ OJ OJ a (O (O N T N V V V T OJ IDO O OJ N O N N r r r OJ V (O O O (O l0 l0 M r V N IV O d � r O OJ W T T T T � N O M M N IV IV M 7 M M O V V O O O T (O (O O M M r M M M N N N O N N T r r r r d r r O O N O O O l0 O M T N O O O O T m v v L U � N d i E u of c c m U od m i d d o ad d d m m J U N d d u m m = c m d u o c O m N N « N F d d a d Cl1 U (If N ou d Q d a 123 o 0 0 0 0 0 0 0 0 0 0 0 0 0 O = = m r M O M T I� Ifl M O O r T T O a OJ N T O O M T T O V O T N N (O I� O OJ OJ (O V Ifl M O N OJ OJ � d N T T O O T T (O O OJ O O (O T T Y O O o' o N o m N O OJ OJ N O M M T r OJ Ifl N M M IV IV N M r T OJ T O N V O) O) O) V N I� O N co � N V r O N N O O � W O N Mf Ifl V N M O O Ifl I� "W OJ r N � V I� M Ifl V V S O N N IV Y .oIo. m m N N V V V N Ifl N N l0 l0 IV M T (O IT O O N M (O Ifl Ifl M M M O M CO CO V T T O � I� V V V IV IV M C OJ Ifl (O (O N M Ifl (O (O O O OJ N O Ifl N I� r r (O Ifl Ifl Ifl r M y y l0 C « '�. (O N O O I� O N M l0 l0 N d O d Ifl I� r N N N r r w a' aI o 00000 0 0000000 C N O M (O O N O T OJ O O OJ T T d a O V (O T O O M V V Ifl I� O V IV IV y d O OJ OJ O O T OJ M N N O T T d N O V V Ifl Ifl V N M Ifl V Ifl Ifl W V V adI c � m d C O I� r Ifl O O Ifl M (O Ifl Ifl OJ OJ r N N IV a s Ifl � r r N N N r r d d O d L � N° - x2l y t_, m d > O 3 d C W W (O Ifl N N V IV V N Ifl N N l0 l0 l0 m T (O It O M N Cl (O It It c0 CO It CDo ID � r v_ v_ v_ w w r O 0 CNI I17 N O CNI M I� I- OJ (O ID ID ID I� M l0 l0 l0 d r r IV U d d ' I y I L OO OO Ifl O O M I� V T Ifl Ifl N N N (O I� of V Ifl N T Ifl T O V V V V T OJ M N CI M V M m N N IV I O IV O CO CO CD (O Il r V (O (O T T M M T T T d (O O O Ifl N M T V M (O Ifl T T c O M M S O N V c Ifl V V N c IV mI I I I I I I I y d d u U J O C m �• i 'i q d m N U i i O N N y d U C N d N rq � d d C LL 0 F C i y a�' m > y = �' � a m ° 2 O of - ii a 0 0 W c u�i 0 m m p, O 124 N N � o c rn N N c o N v o m m O a M M N V T OJ V O O Y O O N o m N O r r V V r M OJ V T O O d N N V V c N T M O V l0 d w w M M M M m N r v o r r v r L c W O (p (p rn rn N r (n0 r w (MO t0 t0 m d d N N O2 O2 Cy," M T OJ r N c Y a O (O (O l0 M OJ OJ OJ y O m m T OJ OJ M T M M M l0 m T V V V T of t0 0 00 T (O � OJ OJ aI o 00 0 000000 0 a a j m r r p N M N O M IV N N j V V W LLO'i T T T m N N M(O Ifl M � � O K a N N IV N O 1� N OM I� r N y w a v o 0 0 o of of d y co H d y LL a M c c M T (O O N N N V T I� M N N OJ OJ l0 �j y r N N V V r P V T OJ l0 l0 ' I O O O V V N O V O O O N N IV co T N O r N d V V ' v N CO 0 N N C ' I I N N M M l0 OJ V M N O O c OJ OJ T I- V T N OJ OJ M M M T OJ OJ N N N M M V r V M V V IV T V N V V V M M l0 ma mI � � I I I I o y _ d m u y y y m d o U u a m d a y o U a m c Qd, c m d d Q m Z` O c d ro o c a m d m E > d Q 2 a d y d > a c o d m o x m m m m m p, O m Q F F H W H a R55JCO21 City of Kent 7/27/2012 10J 7 Fiscal Year: 12 Period: 6 Street Capital Projects Fund Page - 1 Budget Prior Years Fiscal YTD Prj to Date Variance % Beginning Fund Balance 87,009- 84,261.60- 84,261.60- 2,747.40- 96.84 Fund Balance Adjustments 2,747 2,747.00 Licenses&Permits 9,260- 9,260.00- 9,260.00- 100.00 Intergovernmental 46,677,971- 42,593,594.02- 381,476.29- 42,975,070.31- 3,702,900.69- 92.07 Charges for Services 73,444- 93,787.10- 93,787.10- 20,343.10 127.70 Miscellaneous Revenues 25,528,352- 19,653,978.89- 175,039.44- 19,829,018.33- 5,699,333.67- 77.67 Non Revenues 16,703,117- 20,619,174.91- 20,619,174.91- 3,916,057.91 123.45 Other Financing Sources 31,822,352- 27,914,334.30- 27,914,334.30- 3,908,017.70- 87.72 Operating Transfers In 13,561,655- 13,113,653.88- 7,227.81 13,106,426.07- 455,228.93- 96.64 Total Available Resources 134,460,413- 124,082,044.70- 549,287.92- 124,631,332.62- 9,829,080.38- 92.69 Unallocated Street Projects 15,783 41,096.00 41,096.00 25,313.00- 260.38 Street Mitigation Receipts 438,923 438,923.00 Street Light Wiring Upgrade 120,000 49,955.74 2,861.29 52,817.03 67,182.97 44.01 Misc Intersection Signals 200,000 124,788.87 124,788.87 75,211.13 62.39 Pedestrian Walkways 339,418 415,929.48 415,929.48 76,511.48- 122.54 Kent-Kangley Pedestrian Improv 413,200 3,458.26 18,219.71 21,677.97 391,522.03 5.25 Traf Signal Control Cabinets 202,338 202,383.89 202,383.89 45.89- 100.02 Signal Battery Backup 380,737 380,736.69 380,736.69 .31 100.00 Railroad Quiet Zone 52,807 2,853.10 60.95 2,914.05 49,892.95 5.52 Asphalt Overlays 2009 1,493,099 753,434.83 82,813.19 836,248.02 656,850.98 56.01 Sidewalk Renovations 2008 1,910,739 1,495,636.62 1,495,636.62 415,102.38 78.28 Kent Station 4,327,772 3,987,374.81 242.78 3,987,617.59 340,154.41 92.14 Downtown ITS Improvements 3,850,489 4,967,245.94 30.48 4,967,276.42 1,116,787.42- 129.00 84th Avenue Rehabilitation 7,379,096 6,994,436.79 14,565.09 7,009,001.88 370,094.12 94.98 Lincoln Ave/Smith Stlmprov 765,012 365,734.01 448,435.01 814,169.02 49,157.02- 106.43 256th Street- 116th to 132nd 58,000 58,000.00 BNSF Grade Separation 23,759,544 19,243,746.19 48,114.70 19,291,860.89 4,467,683.11 81.20 Military/Reith Intersection 164,125 30,031.01 30,031.01 134,093.99 18.30 272nd Extension (KK to 256th) 7,232,535 6,659,105.73 2,369.65 6,661,475.38 571,059.62 92.10 2nd Avenue Pedestrian Imp 422,072 421,287.44 421,287.44 784.56 99.81 4th Ave Impr(James to Cloudy) 2,499,126 2,499,447.90 2,499,447.90 321.90- 100.01 Willis St UPRR/BNRR Grade Sepr 881,627 235,978.75 2,687.64 238,666.39 642,960.61 27.07 James Ave lmpr(4thto UPRR) 2,869,097 2,884,087.32 1,700.38 2,885,787.70 16,690.70- 100.58 256thlmps(Kent Kangley-116th) 2,315,358 238,246.14 58,328.05 296,574.19 2,018,783.81 12.81 Aerial Flight 34,893 34,892.70 34,892.70 .30 100.00 212th UPRR/BN Grade Separation 116,972 16,983.92 16,983.92 99,988.08 14.52 LID 341-196th Corridor Mid 34,836,448 34,023,566.11 34,023,566.11 812,881.89 97.67 LID 353224th-228th Corridor 30,861,440 32,032,203.25 63,706.49 32,095,909.74 1,234,469.74- 104.00 224th-228th Corridor East Leg 2,091,260 1,525,121.88 73,349.68 1,598,471.56 492,788.44 76.44 Russell Road Maint. Facility 313,462 313,897.96 313,897.96 435.96- 100.14 196th Street-East-Mitigation 496,209 530.78 291.80 822.58 495,386.42 .17 East Hill Operations Center 3,542,369 1,493,294.89 16,502.70 1,509,797.59 2,032,571.41 42.62 R55JCO21 City of Kent 7/27/2012 10M.P7 Fiscal Year: 12 Period: 6 Street Capital Projects Fund Page - 2 Budget Prior Years Fiscal YTD Prj to Date Variance % 72nd Ave Imps (5.196th-200th) 30,037.78 30,037.78 30,037.78- Pacific Highway HOV 76,463 75,350.20 75,350.20 1,112.80 98.54 Total Expenditures 134,460,413 121,512,837.20 864,317.37 122,377,154.57 12,083,258.43 91.01 Ending Balance 2 56 2207.50- 315 029.45 2 254 178.05- R55JCO21 City of Kent 7/27/2012 10Y.36 Fiscal Year: 12 Period: 6 Parks Capital Projects Fund Page - 1 Budget Prior Years Fiscal YTD Prj to Date Variance % Beginning Fund Balance 21,007- 21,005.82- 21,005.82- 1.18- 99.99 Intergovernmental 1,479,809- 1,106,291.41- 138,231.73- 1,244,523.14- 235,285.86- 84.10 Charges for Services 43.84- 43.84- 43.84 Miscellaneous Revenues 908,865- 975,647.86- 149,980.73- 1,125,628.59- 216,763.59 123.85 Operating Transfers In 9,106,592- 8,691,592.76- 8,691,592.76- 414,999.24- 95.44 Total Available Resources 11,516,273- 10,794,537.85- 288,256.30- 11,082,794.15- 433,478.85- 96.24 ARRA-Comm Putting Prev.to Wk 180,000 80,649.40 30,854.98 111,504.38 68,495.62 61.95 Regional Trails/KC Levy 698,457 373,620.50 373,620.50 324,836.50 53.49 Boat Launch Fees 24,895 1,995.41 1,622.03 3,617.44 21,277.56 14.53 Lake Fenwick 106,614 111,860.69 111,860.69 5,246.69- 104.92 Paths and Trails 122,243 68,982.49 68,982.49 53,260.51 56.43 Adopt-a-Park Program 474,398 429,214.83 19,439.45 448,654.28 25,743.72 94.57 Street Tree Replacements 102,703 97,255.77 97,255.77 5,447.23 94.70 Rental Houses Demolition 140,000 109,671.92 45,928.03 155,599.95 15,599.95- 111.14 Big Blue Mobile Computer Lab 45,000 8,676.83 4,367.39 13,044.22 31,955.78 28.99 Light Pole Replacement 626,115 444,581.46 444,581.46 181,533.54 71.01 Aquatics Land Acquisition 6,284,840 6,284,840.05 6,284,840.05 .05- 100.00 Eagle Scout Projects 154,327 149,105.87 9,865.10 158,970.97 4,643.97- 103.01 Multi-use Ballfields/KSD 20,000 22,946.46 22,946.46 2,946.46- 114.73 Earthworks Stairs 215,493 157,824.90 60,765.94 218,590.84 3,097.84- 101.44 Park Lifecycle Program 686,681 184,380.45 78,699.66 263,080.11 423,600.89 38.31 Lake Meridian Play Equipment 423,450 423,449.84 423,449.84 .16 100.00 Urban Forestry Plan 211,617 193,785.61 17,579.44 211,365.05 251.95 99.88 Community Parks Reinv. Program 57,225 57,225.00 Parks Land Acquisition 942,215 1,150,818.46 1,150,818.46 208,603.46- 122.14 Total Expenditures 11,516,273 10,293,660.94 269,122.02 10,562,782.96 953,490.04 91.72 Ending Balance 500876.91- 19134.28- 52 0011.19- R55JCO21 City of Kent 7/27/2012 10:908 Fiscal Year: 12 Period: 6 Other Capital Projects Fund Page - 1 Budget Prior Years Fiscal YTD Prj to Date Variance % Intergovernmental 78,600,000- 63,575,208.71- 63,575,208.71- 15,024,791.29- 80.88 Miscellaneous Revenues 131,929- 339,194.73- 582.02- 339,776.75- 207,847.75 257.55 Non Revenues 347,076- 343,641.11- 343,641.11- 3,434.89- 99.01 Other Financing Sources 35,264,500- 34,764,500.00- 34,764,500.00- 500,000.00- 98.58 Operating Transfers In 8,120,463- 7,658,155.52- 7,658,155.52- 462,307.48- 94.31 Total Available Resources 122,463,968- 106,680,700.07- 582.02- 106,681,282.09- 15,782,685.91- 87.11 ShoWare Center Marquee 225,000 213,308.48 213,308.48 11,691.52 94.80 Kent Station 1,300,000 1,300,000.00 Event Center 85,695,463 80,455,308.88 80,455,308.88 5,240,154.12 93.89 LTGO Bonds 2002 9,486,429 9,485,126.12 9,485,126.12 1,302.88 99.99 GO Refunding 2009 8,757,076 8,757,076.15 8,757,076.15 .15- 100.00 Kent City Center Garage 126,188.29 10,325.28 136,513.57 136,513.57- LTGO Bonds 2008 17,000,000 16,109,050.81 16,109,050.81 890,949.19 94.76 Total Expenditures 122,463,968 115,146,058.73 10,325.28 115,156,384.01 7,307,583.99 94.03 Ending Balance 8 465 358.66 9 743.26 8 475 101.92 R55JCO21 City of Kent 7/27/2012 10Y.1 Fiscal Year: 12 Period: 6 Technology Capital Projects Page - 1 Budget Prior Years Fiscal YTD Prj to Date Variance % Miscellaneous Revenues 1,283.42- 1,283.42- 1,283.42 Operating Transfers In 6,956,445- 6,321,796.79- 202,454.37- 6,524,251.16- 432,193.84- 93.79 Total Available Resources 6,956,445- 6,323,080.21- 202,454.37- 6,525,534.58- 430,910.42- 93.81 Software Business Sys Replace 321,605 321,605.07 321,605.07 .07- 100.00 Hardware Lifecycle Replacemnts 1,847,690 1,712,165.18 59,342.85- 1,652,822.33 194,867.67 89.45 IT Administration 126,151 126,151.03 126,151.03 .03- 100.00 IT Systems 2,209,039 1,934,390.86 23,781.42 1,958,172.28 250,866.72 88.64 IT Tech Services 2,182,806 2,182,806.60 2,182,806.60 .60- 100.00 IT Multi Media 29,154 29,153.64 29,153.64 .36 100.00 Long Term Lifecycle Replacemts 240,000 240,000.00 Total Expenditures 6,956,445 6,306,272.38 35,561.43- 6,270,710.95 685,734.05 90.14 Ending Balance 16 807.83- 238 015.80- 254 823.63- R55JCO21 City of Kent 7/27/2012 144P.99 Fiscal Year: 12 Period: 6 Facilities Capital Projects Page - 1 Budget Prior Years Fiscal YTD Prj to Date Variance % Intergovernmental 1,167,658- 1,167,658.01- 1,167,658.01- .01 100.00 Operating Transfers In 7,715,000- 7,040,913.31- 75,000.00- 7,115,913.31- 599,086.69- 92.23 Total Available Resources 8,882,658- 8,208,571.32- 75,000.00- 8,283,571.32- 599,086.68- 93.26 East Hill Shops Artwork 50,000 23,035.26 23,035.26 26,964.74 46.07 CKCF Improvements 1,167,658 85,473.43 85,473.43 1,082,184.57 7.32 Aukeen Court Expansion 7,590,000 7,145,717.19 255,682.02 7,401,399.21 188,600.79 97.52 Security Camera Software Upgrd 40,000 40,000.00 Parks Maintenance Renovation 35,000 35,000.00 Total Expenditures 8,882,658 7,254,225.88 255,682.02 7,509,907.90 1,372,750.10 84.55 Ending Balance 954 345.44- 18 6682.02 773 663.42- R55JCO21 City of Kent 7/27/2012 11 Y.1 Fiscal Year: 12 Period: 6 Water Fund Page - 1 Projects Only Budget Prior Years Fiscal YTD Prj to Date Variance % Beginning Fund Balance 193,927- 193,926.30- 193,926.30- .70- 100.00 Intergovernmental 581,522- 591,020.75- 591,020.75- 9,498.75 101.63 Charges for Services 1,764- 4,238.36- 4,238.36- 2,474.36 240.27 Miscellaneous Revenues 771,649- 2,851,670.05- 12,842.35- 2,864,512.40- 2,092,863.76 371.22 Non Revenues 43,055,889- 43,055,888.33- 43,055,888.33- .20- 100.00 Other Financing Sources 1,000,000- 2,500,903.04- 2,500,903.04- 1,500,903.04 250.09 Operating Transfers In 39,733,766- 35,650,294.14- 35,650,294.14- 4,083,471.86- 89.72 Total Available Resources 85,338,516- 84,847,940.97- 12,842.35- 84,860,783.32- 477,732.85- 99.44 Seismic Vulnerability Assess 730,941 752,570.88 752,570.88 21,629.88- 102.96 Water Comp Plan Update 2007 693,311 679,120.79 1,978.63 681,099.42 12,211.58 98.24 2009 Revenue Bonds 74,605 97,591.78 97,591.78 22,986.78- 130.81 Water Conservation Plan 475,193 480,883.67 3,739.24 484,622.91 9,429.91- 101.98 Rock Creek Mitigation Projects 735,000 32,292.50 5,205.00 37,497.50 697,502.50 5.10 Guiberson Reservoir Repair 3,545,000 149,355.72 35,552.13 184,907.85 3,360,092.15 5.22 Tacoma Intertie 44,485,507 39,464,797.37 39,464,797.37 5,020,709.27 88.71 Clark Springs Tran Main Repair 500,000 1,327.25 1,327.25 498,672.75 .27 Clark Springs Well#2VFD Repl. 9,748 9,748.38 9,748.38 .38- 100.00 Seismic System Controls 200,000 200,000.00 Corrosion Control 3,464,470 2,477,457.68 231,413.73 2,708,871.41 755,598.59 78.19 Pump Station#3 Replacement 2,008,534 108,751.41 108,751.41 1,899,782.59 5.41 Kent Springs Source Upgrade 827,779 319,284.46 319,284.46 508,494.07 38.57 Kent Springs Trans Main Repair 750,000 8,601.49 8,601.49 741,398.51 1.15 Misc Water Improvements 4,412,940 2,966,012.66 1,722,680.06 4,688,692.72 275,752.72- 106.25 Additional Water Source Dev 2,054,824 1,056,022.10 1,056,022.10 998,801.90 51.39 Well Head Protection 431,384 180,316.08 180,316.08 251,067.92 41.80 Security Improvement per VA 70,000 14,655.70 14,655.70 55,344.30 20.94 East Hill Pressure Zone 4,700,503 76,879.39 10,450.83 87,330.22 4,613,172.78 1.86 Impoundment Reservoir 2,226,286 2,126,325.63 19.81 2,126,345.44 99,940.56 95.51 SE 248th Watermain 357,871 365,417.08 365,417.08 7,546.08- 102.11 West Hill Reservoir 750,000 750,000.00 East Hill Reservoir 4,744,304 4,915,226.90 9,419.35 4,924,646.25 180,342.25- 103.80 East Hill Well Generator 545,000 1,685.21 1,685.21 543,314.79 .31 Clark Springs Source Imprvmnts 587,000 5,126.20 16,252.19 21,378.39 565,621.61 3.64 Landsburg Mine 200,000 241,400.94 12,788.67 254,189.61 54,189.61- 127.09 Clark Springs HCP 200,000 212,712.28 466.95 213,179.23 13,179.23- 106.59 Hydrant Replacement2005 50,043 32,944.52 9,904.28 42,848.80 7,194.20 85.62 Large Meter/Vault Replace 2008 240,341 109,680.99 7,325.97 117,006.96 123,334.04 48.68 Kent Station -Water 109,198 109,197.68 109,197.68 .32 100.00 Downtown ITS Improvements 233,131 233,131.16 233,131.16 .16- 100.00 84th Avenue Rehabilitation 298,660 298,659.62 298,659.62 .38 100.00 Remote Telemetry Upgrade 478,368 466,528.54 2,545.87 469,074.41 9,293.59 98.06 BNSF Grade Separation 1,205,000 777,124.00 777,124.00 427,876.00 64.49 R55JCO21 City of Kent 7/27/2012 11 Y.95 Fiscal Year: 12 Period: 6 Water Fund Page - 2 Projects Only Budget Prior Years Fiscal YTD Prj to Date Variance % 272nd Extension (KK to 116th) 303,759 303,759.61 303,759.61 .61- 100.00 Scenic Hill -Water 340,000 413,324.31 413,324.31 73,324.31- 121.57 Aerial Flight 34,688 34,687.50 34,687.50 .50 100.00 LID 341-196th Corridor Mid 194,003 194,002.60 194,002.60 .40 100.00 LID 353 224th-228th Corridor 155,901 155,900.56 155,900.56 .44 100.00 East Hill Operations Center 1,465,225 1,466,200.87 700.87 1,466,901.74 1,676.74- 100.11 Lower East Hill Improvements 450,000 475,510.59 475,510.59 25,510.59- 105.67 Total Expenditures 85,338,516 61,814,216.10 2,070,443.58 63,884,659.68 21,453,856.49 74.86 Ending Balance 23 033 724.87- 2 05 6601.23 20 97 1123.64- R55JCO21 City of Kent 7/27/2012 11 M.Ro Fiscal Year: 12 Period: 6 Sewerage Fund Page - 1 Projects Only Budget Prior Years Fiscal YTD Prj to Date Variance % Beginning Fund Balance 488,467- 488,466.98- 488,466.98- .02- 100.00 Intergovernmental 17,952,657- 13,015,560.33- 886,933.95- 13,902,494.28- 4,050,162.72- 77.44 Charges for Services 4,000- 295,558.60- 684.92- 296,243.52- 292,243.52 """" Miscellaneous Revenues 259,652- 1,040,657.39- 4,351.95- 1,045,009.34- 785,357.34 402.47 Non Revenues 12,786,845- 12,786,844.80- 12,786,844.80- .20- 100.00 Other Financing Sources 1,500,000- 1,500,000.00- 1,500,000.00- 100.00 Operating Transfers In 41,786,138- 33,472,657.25- 33,472,657.25- 8,313,480.75- 80.10 Total Available Resources 74,777,759- 62,599,745.35- 891,970.82- 63,491,716.17- 11,286,042.83- 84.91 NPDES Permit 3,397,335 2,504,490.18 124,518.76 2,629,008.94 768,326.06 77.38 Drainage Master Plan 1,290,000 1,426,827.90 4,639.85 1,431,467.75 141,467.75- 110.97 2009 Revenue Bonds 86,845 97,592.43 97,592.43 10,747.43- 112.38 Green River Flood Protection 3,718,123 3,743,582.59 5,764.26 3,749,346.85 31,223.85- 100.84 Misc Environmental Projects 435,562 403,972.05 25.53 403,997.58 31,564.42 92.75 Meridian Valley Creek 450,000 124,129.97 19,554.94 143,684.91 306,315.09 31.93 Hawley Road Levee 330,000 378,749.16 57,788.55 436,537.71 106,537.71- 132.28 Citywide Stm Pipe/Culvert Mtc 4,100,000 3,233,629.18 1,097.75 3,234,726.93 865,273.07 78.90 S. 228th Drainage Bypass 6,950,000 5,532,645.64 605,819.12- 4,926,826.52 2,023,173.48 70.89 Mill Ck/James St. Pump Station 2,700,000 1,074,306.39 1,482,849.62 2,557,156.01 142,843.99 94.71 Upper Mill Creek Dam 2,435,000 70,622.18 109,232.17 179,854.35 2,255,145.65 7.39 Outfall Treatment Facilities 240,000 240,000.00 Seven Oaks Pond Imps 10,000 2,934.60 2,934.60 7,065.40 29.35 Lower Garrison Creek 1,175,171 1,158,973.29 1,158,973.29 16,197.71 98.62 Johnson Creek 580,738.38 749.90 581,488.28 581,488.28- Earthworks Overlays 1,196,621 1,179,093.37 595.00 1,179,688.37 16,932.63 98.58 Lake Fenwick Restoration 2009 20,895 8,869.86 345.62 9,215.48 11,679.52 44.10 256th Flume 510,000 439,796.93 439,796.93 70,203.07 86.23 Lake Meridian Outlet 2,718,065 2,711,034.12 1,588.97 2,712,623.09 5,441.91 99.80 Upper Meridian Valley Creek 90,000 79,482.62 396.45 79,879.07 10,120.93 88.75 E Fork Soosette Crk/144th Clvt 110,000 97,525.60 97,525.60 12,474.40 88.66 Meridian Valley Crk Revegetate 800.00 800.00 800.00- Big Soos Creek/SE 256th Bridge 10,000 224.91 224.91 9,775.09 2.25 W Side Soosette Crk Revegetate 10,000 10,000.00 81 st Av So Storm Drainage Impr 150,000 129,958.12 129,958.12 20,041.88 86.64 Surface Water Manual 100,000 87,954.67 87,954.67 12,045.33 87.95 Mill Creek @ James-Fld Protect 600,000 461,561.97 190.96 461,752.93 138,247.07 76.96 Riverview Park 2,990,000 2,048,287.01 21,850.94 2,070,137.95 919,862.05 69.24 Downey Farmstead 550,000 250,286.17 4,194.64 254,480.81 295,519.19 46.27 Bauer Property 310,000 108,531.24 13,963.76 122,495.00 187,505.00 39.51 Mill Crk @ 76th Av-Fld Protect 800,000 27,315.03 604.44 27,919.47 772,080.53 3.49 Horseshoe Bend Levee Impr. 10,629,417 7,378,064.46 145,193.67 7,523,258.13 3,106,158.87 70.78 Upper Russell Road Levee Impr. 2,100,000 815,575.83 152,887.89 968,463.72 1,131,536.28 46.12 Lower Russell Rd Levee-S231st 300,000 295,498.27 28,140.49 323,638.76 23,638.76- 107.88 R55JCO21 City of Kent 7/27/2012 11 M.90 Fiscal Year: 12 Period: 6 Sewerage Fund Page - 2 Projects Only Budget Prior Years Fiscal YTD Prj to Date Variance % Lowest Russell Rd-Van Dorens 290,000 176,239.85 10,884.07 187,123.92 102,876.08 64.53 Boeing Levee Improvements 420,000 529,036.21 337,155.21 866,191.42 446,191.42- 206.24 Briscoe Levee Improvements 290,000 259,409.68 196,503.45 455,913.13 165,913.13- 157.21 Desimone Levee Improvements 300,000 246,661.28 190,819.55 437,480.83 137,480.83- 145.83 Green River Sandbag Removal 3,000,000 39,499.22 39,499.22 2,960,500.78 1.32 Misc Drainage 2008 2,162,292 1,565,960.44 19,238.55 1,585,198.99 577,093.01 73.31 Drainage Imp.w/Rd Imp.Unalloc 524,577- 524,577.00- Drainage Infractructure Improv 473,379 463,248.62 463,248.62 10,130.38 97.86 Kent Station -Drainage 142,758 142,758.17 142,758.17 .17- 100.00 Downtown ITS Improvements 107,315 158,406.09 158,406.09 51,091.09- 147.61 84th Avenue Rehabilitation 19,644 19,644.39 19,644.39 .39- 100.00 Lincoln Ave/Smith St Improv 60,000 41,443.50 41,443.50 18,556.50 69.07 Remote Telemetry Upgrade 149,456 112,384.00 2,545.88 114,929.88 34,526.12 76.90 BNSF Grade Separation 993,000 434,964.00 434,964.00 558,036.00 43.80 272nd Extension (KK to 116th) 538,373 538,373.48 538,373.48 .48- 100.00 256th Imps(Kent Kangley-116th) 7,819.06 7,127.86 14,946.92 14,946.92- Aerial Flight 34,687 34,687.50 34,687.50 .50- 100.00 LID 341-196th Corridor Mid 1,165,295 1,167,076.54 1,167,076.54 1,781.54- 100.15 224th-228thCorridor 2,004,580 1,514,842.52 716.00 1,515,558.52 489,021.48 75.60 Russell Road Maint. Facility 313,901 313,898.68 313,898.68 2.32 100.00 East Hill Operations Center 1,465,385 1,465,385.07 1,465,385.07 .07- 100.00 Lower East Hill Improvements 50,000 33,400.54 33,400.54 16,599.46 66.80 Sanitary Sewer Master Plan 300,000 264,238.45 9,495.94 273,734.39 26,265.61 91.24 Unallocated Sewer Projects 111,110 111,247.11 111,247.11 137.11- 100.12 Kentview Sewer Interceptor 215,044 17,418.96 108,463.56 125,882.52 89,161.48 58.54 Skyline Sewer Interceptor 20,000 5,115.37 5,115.37 14,884.63 25.58 LID 360-SE 227th Sewer 216,000 304,656.40 304,656.40 88,656.40- 141.04 Linda Heights Pump Station 150,000 19,624.71 19,624.71 130,375.29 13.08 Misc Pump Station Replacements 100,000 100,000.00 Derbyshire 50,000 50,000.00 Misc Sewer 2007 5,676,645 5,604,283.48 316,086.81 5,920,370.29 243,725.29- 104.29 Kent Station -Sewer 93,935 93,935.42 93,935.42 .42- 100.00 Downtown ITS Improvements 12,968 12,967.74 12,967.74 .26 100.00 84th Avenue Rehabilitation 233,740 233,740.40 233,740.40 .40- 100.00 Remote Telemetry Upgrade 149,456 121,101.40 2,545.88 123,647.28 25,808.72 82.73 272nd Extension (KK to 116th) 526,229 526,228.68 526,228.68 .32 100.00 Scenic Hill -Sewer 210,000 65,895.00 65,895.00 144,105.00 31.38 Aerial Flight 34,687 34,687.50 34,687.50 .50- 100.00 LID 341-196th Corridor Mid 8,738 8,737.87 8,737.87 .13 100.00 224th-228th Corridor 136,400 136,400.07 136,400.07 .07- 100.00 Russell Road Maint. Facility 313,899 313,898.00 313,898.00 1.00 100.00 East Hill Operations Center 1,465,386 1,465,385.00 1,465,385.00 1.00 100.00 Lower East Hill Improvements 785,000 1,116,583.30 394.92 1,116,978.22 331,978.22- 142.29 R55JCO21 City of Kent 7/27/2012 11 M.1 Fiscal Year: 12 Period: 6 Sewerage Fund Page - 3 Projects Only Budget Prior Years Fiscal YTD Prj to Date Variance % Total Expenditures 74,777,759 56,068,655.02 2,878,015.52 58,946,670.54 15,831,088.46 78.83 Ending Balance 6 53 0090.33- 1 98 0044.70 4 545 045.63-