HomeMy WebLinkAboutCity Council Committees - Operations Committee - 06/04/2019
Unless otherwise noted, the Operations Committee meets at 4 p.m. on the first and third
Tuesday of each month in Kent City Hall, Council Chambers East, 220 Fourth Avenue South,
Kent, WA 98032.
For additional information please contact Cathie Everett at 253-856-5705, or via email at
CEverett@KentWA.gov.
Any person requiring a disability accommodation should contact the City Clerk’s Office at
253-856-5725 in advance. For TDD relay service call Washington Telecommunications Relay
Service at 7-1-1.
Operations Committee
Agenda
Chair - Les Thomas
Bill Boyce– Dennis Higgins
Tuesday, June 4, 2019
4:00 p.m.
Item Description Action Speaker Time
1. Call to Order Chair 01 MIN.
2. Roll Call Chair 01 MIN.
3. Changes to the Agenda Chair 01 MIN.
4. Approval of May 21, 2019
Minutes
YES Chair 05 MIN.
5. Approval of Check Summary
Report Dated 5/1/19-5/15/19
YES Chair 05 MIN.
6. FWLE City Services Agreement -
Task Order Number 2
YES City Liaison to Sound
Transit Kelly Peterson
15 MIN.
7. ICMA - RC Administrative
Services Agreement
YES HR Benefits Manager
Laura Horea
05 MIN.
8. April Financial Report NO Interim Finance
Director Barbara Lopez
05 MIN.
9. 1st Quarter 2019 Investment
Report
NO Cash & Investment
Officer Joe Bartlemay
05 MIN.
10. Adjournment Chair 01 MIN.
Page 1 of 3
Pending Approval
Operations Committee
CC Ops Regular Meeting
Minutes
May 21, 2019
Date: May 21, 2019
Time: 4:00 p.m.
Place: Chambers
Attending: Les Thomas, Committee Chair
Bill Boyce, Councilmember
Dennis Higgins, Councilmember
Agenda:
1. Call to Order 4:01 p.m.
2. Roll Call
Attendee Name Title Status Arrived
Les Thomas Committee Chair Present
Bill Boyce Councilmember Present
Dennis Higgins Councilmember Present
3. Changes to the Agenda
There were no changes to the agenda.
4. Approval of Minutes dated May 7, 2019
MOTION: Move to approve the Minutes dated May 7, 2019
RESULT: APPROVED [UNANIMOUS]
MOVER: Dennis Higgins, Councilmember
SECONDER: Bill Boyce, Councilmember
AYES: Thomas, Boyce, Higgins
5. Approval of Check Summary Report Dated 4/16/19-4/30/19
MOTION: Move to approve the check summary report dated 4/16/19
through 4/30/19.
RESULT: APPROVED [UNANIMOUS]
MOVER: Bill Boyce, Councilmember
SECONDER: Dennis Higgins, Councilmember
AYES: Thomas, Boyce, Higgins
6. Lodging Tax Grant Awards
Economic Development Manager Michelle Wilmot presented a request to
recommend council authorize the City's Fall/Winter 2019 Business and
Leisure Tourism Promotion Grants as recommended by the Lodging Tax
Advisory Committee. The City received eight grant applications with requests
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Operations Committee CC Ops Regular Meeting
Minutes
May 21, 2019
Kent, Washington
Page 2 of 3
totaling $205,780, well within range of the approximately $300,000
available. The committee evaluated all applications and selected six of the
eight to fund. Funding is recommended for these six applications as they will
bring additional people to Kent for business and leisure travel. Council
President Boyce requested that Ms. Wilmot get these events on the Council
calendar and gave Kudos for the work being done to bring these types of
events to Kent.
MOTION: Recommend Council authorize the business and leisure tourism
promotion grants as recommended by the Lodging Tax Advisory Committee
(LTAC).
RESULT: RECOMMENDED TO COUNCIL [UNANIMOUS]Next: 6/4/2019 7:00
PM
MOVER: Dennis Higgins, Councilmember
SECONDER: Bill Boyce, Councilmember
AYES: Thomas, Boyce, Higgins
7. Medic One/Emergency Medical Services Levy Resolution
Chief Administrative Officer Derek Matheson and Fire Chief Matt Morris
presented a request to recommend Council adopt a resolution indicating the
City's approval to place a levy on the November 2019 ballot to provide long-
term funding for the countywide Medic One/Emergency Medical Services
system. This levy will replace the current countywide levy which expires on
December 31, 2019.
MOTION: Recommend the City Council adopt a resolution indicating the City
of Kent’s approval of a ballot proposition to provide stable and long-term
funding for the countywide Medic One / Emergency Medical Services system.
RESULT: RECOMMENDED TO COUNCIL [UNANIMOUS]Next: 6/4/2019 7:00
PM
MOVER: Bill Boyce, Councilmember
SECONDER: Dennis Higgins, Councilmember
AYES: Thomas, Boyce, Higgins
8. Asset Management System Replacement Project Update
Technical Systems Analyst Levin Conway, IT Project Manager Melissa Janson,
Woolpert Project Manager Christina Martinez and Public Works GIS
Coordinator Heath Bracket provided an update on the asset management
system replacement project. Over the past two months the Project Core
Team, IT, Woolpert and PW Operations staff have had multiple project
meetings and onsite workshops. An overview of completed tasks and
milestones as well as a high-level overview of the project schedule was
presented. At this time, the project is on-time and on-budget.
9. Director's Report
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Operations Committee CC Ops Regular Meeting
Minutes
May 21, 2019
Kent, Washington
Page 3 of 3
Interim Finance Director Barbara Lopez reported on two finance and
operational items. The first was some good news indicating that, due to bids
coming in lower than estimated and project savings on other projects that
can be reallocated, we are no longer in a position where we need to issue
bonds to fund the 224th/228th corridor as originally planned. The second
item was a heads-up that the annual audit is underway. The State Auditor's
Office is on-site and will be here full-time for the next three to four months.
As a reminder, the audit is actually three audits in one. It consists of an audit
of financial statements, a "single audit" which audits federal grants and an
accountability audit which audits areas such as contracting, procurement and
payroll to make sure we are following our processes and procedures. When
the audit is completed, an exit conference will be scheduled.
10. Adjournment 4:35 p.m.
Cathie Everett
Committee Secretary
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OPERATIONS COMMITTEE
Derek Matheson, Chief Administrative Officer
220 Fourth Ave S
Kent, WA 98032
256-856-5712
DATE: June 4, 2019
TO: Operations Committee
SUBJECT: Approval of Check Summary Report Dated 5/1/19-5/15/19
MOTION: Move to approve the check summary report dated May 1 through May
15, 2019.
SUPPORTS STRATEGIC PLAN GOAL:
Sustainable Services
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OPERATIONS COMMITTEE
Derek Matheson, Chief Administrative Officer
220 Fourth Ave S
Kent, WA 98032
256-856-5712
DATE: June 4, 2019
TO: Operations Committee
SUBJECT: FWLE City Services Agreement - Task Order Number 2
MOTION: Move to recommend Council authorize the Mayor to sign all documents
to execute Task Order 2 to the City Services Agreement (GA 0183-17) between the
City of Kent and Sound Transit for City Services and Costs related to the Federal
Way Link Extension Project Review and Permitting subject to final terms and
conditions acceptable to the Chief Administrative Officer and City Attorney.
SUMMARY: The City of Kent (City) and Sound Transit have been working
cooperatively for many years to prepare for the construction of the Federal Way
Link Extension project. The City and Sound Transit approved a Development
Agreement in 2018 that identified project location, project elements, station design,
development of surplus property, development standards and the design review,
permitting and inspection processes. This Motion before the Operations Committee
provides funding to fulfill objectives identified in the Development Agreement.
To date, City staff time, including drafting of the Development Agreement noted
above, has been reimbursed through Task Order #1 to the City Services Agreement
(Agreement) approved in 2017. With the Limited Notice to Proceed (LNTP) issued to
Sound Transit’s approved contractor, the Federal Way Link Extension Project is
entering the design-build phase. Task Order #2 to the Agreement provides
reimbursement of staff time and fees for the following phases: 1) Post-Notice to
Proceed Design Review; 2) Early Construction; 3) Heavy Construction; 4) Systems /
Rail Activation; and 5) Project Closeout.
Sound Transit will pay the City a fixed fee in the amount of $335,000 per quarter
with a total amount of six-million-seven-hundred-thousand dollars ($6.7 million) for
staff time and fees related to the Federal Way Link Extension Project. Payments will
be made on a quarterly basis as noted in Attachment 3 with payments beginning in
the 3rd Quarter of 2019 and the last payment due the second quarter of 2024. The
final payment shall be due with the completion of construction inspection activities,
resolution of punch list items and certificates of occupancy being issued. No
additional Task Orders are expected for this project.
BUDGET IMPACT: $6.7 million in revenue.
SUPPORTS STRATEGIC PLAN GOAL:
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Thriving City, Evolving Infrastructure, Innovative Government, Sustainable Services
ATTACHMENTS:
1. AE 0044-12 FWLE City of Kent Task Order 2 and Attachment 1 (PDF)
2. AE 0044-12 City of Kent Task Order 2 Attachment 2 Preliminary Permitting
Plan (PDF)
3. AE 0044-12 City of Kent Task Order 2 Attachment 3 Milestones (PDF)
4. Executed City Services Agreement (PDF)
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Final Rev – May, 23 2019
Task Order 2 Page 1
GA 0183-17
CITY SERVICES AGREEMENT (GA 0183-17)
BETWEEN THE CITY OF KENT AND SOUND TRANSIT
FOR CITY SERVICES AND COSTS RELATED TO FEDERAL WAY LINK EXTENSION
PROJECT REVIEW AND PERMITTING
Task Order 2: Pre-Construction and Construction Services Support (through project close-out)
This Task Order is issued under the City Services Agreement between the City of Kent and Sound Transit
for City Services and Fees related to Federal Way Link Extension (FWLE) Project Review and Permitting
dated August 25, 2017. This Task Order establishes the scope, schedule, and budget, including staffing
and permitting fees, through Project construction and close-out (anticipated to occur in 2024). The City
agrees to perform the Services in the manner set forth in this Task Order. The terms and conditions of
the City Services Agreement are incorporated into this Task Order unless expressly modified below.
This Task Order shall be effective as of the date signed by Sound Transit.
Project Description. This Task Order covers city work and fees during the Post-NTP Design Review /
Early Construction, Heavy Construction, and Systems / Rail Activation / Project Closeout Phases. City
involvement will inlcude a City Project Liaison (as variously described in Design Build Contractor
documents and in the City’s Development Agreement with Sound Transit) and other staff whose role it
will be to expedite processes related to Design Build Project delivery, including design review,
permitting, and inspection.
Attachment 1: Task Order Scope of Work (Pre-Construction and Construction Services Support)
Attachment 2: Project Preliminary Permitting Plan
Attachment 3: Achievement Milestones and Payment Plan
The parties have agreed to the terms of this Task Order by signing below.
For the City
______________________________________
Signature
______________________________________
Title
______________________________________
Date
Approved as to Form:
______________________________________
City Attorney
For Sound Transit
______________________________________
Signature
______________________________________
Title
______________________________________
Date
Approved as to Form:
______________________________________
Sound Transit Legal Counsel
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Task Order 2 Attachment 1
GA 0183-17 Page 1
Task Order 2 - Attachment 1
Pre-Construction and Construction Services Support: Scope of Work
Overview. The scope of this Task Order 2 identifies City tasks associated with preparations for issuance
of the Design-Build (D-B) Contractor Notice-to-Proceed (NTP), final design, permitting, heavy
construction and Project close-out (anticipated to occur in late 2024), as well as all permitting and
approvals. Task Order 2 covers this extent of time and range of tasks in order to provide certainty and
predictability to both the City and Sound Transit with respect to clarifying workload and cash flow
payments, expeditiously conducting Project reviews, permitting and ensuring Project delivery within the
lifetime budget.
Total Compensation for City Services. Sound Transit will pay the City a fixed fee in the total amount of
six-million-seven-hundred-thousand dollars ($6.7 million) for City costs associated with the scope of this
Task Order 2. Payments will be made on a quarterly basis as noted in the Attachment 3
This payment shall be inclusive of:
Permitting: All permit fees, approvals and related costs. The City agrees that it will not
separately charge Sound Transit additional permit or approval-related fees. The scope of this
Task Order 2 includes City activities necessary to facilitate all permits and approvals required for
completion of the FWLE Project. The Parties have developed a Preliminary Permitting Plan
which identifies anticipated permits and is included as Attachment 2 to this Task Order. The
Plan includes timelines and milestones for City review and approval of Project permit submittals.
Sound Transit’s D-B Contractor will further refine and finalize the Preliminary Permitting Plan to
create a Final Permitting Plan, that will be reviewed and approved by the City as detailed in the
executed Development Agreement between Sound Transit and the City. The Final Permitting
Plan will provide a framework that supports approval of construction permits within mutually
agreed upon timeframes that support the overall Project schedule.
Staffing: All staffing related costs necessary to support the overall project schedule and as
detailed in this Task Order. Staffing is required to support the following three phases.
Phase 1: Design Review / Early Construction: This phase covers staffing services from the time
of issuance of D-B Contractor NTP until the start of heavy construction (i.e., when the design
review and permitting processes are substantially complete), which is estimated to occur in
February 2020.
Phase 2: Heavy Construction: This phase covers staffing services through the entirety of the
heavy construction phase, which is estimated to begin in March 2020 and to conclude in March
2023.
Phase 3: Systems / Rail Activation / Project Closeout: This phase covers staffing services from
the conclusion of heavy construction until the following three conditions are met: 1)
construction inspection activities end, 2) punch list items are accepted via a letter from the City,
and 3) building inspection services end and the last Certificate of Occupancy is issued. Costs of
permitting will be paid to the City in quarterly installments and are reflected in the respective
payment estimates below.
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Task Order 2 Attachment 1
GA 0183-17 Page 2
Invoicing and Payment. Payments will be made to the City under this Task Order 2 as follows:
Staffing and Permitting Costs: Sound Transit shall pay the City a fixed fee of six-million-seven-
hundred-thousand dollars ($6.7 million) to cover all staffing, permitting and related costs. This
shall be paid to the City in twenty (20) equal payments of three-hundred and thirty-five
thousand dollars ($335,000) for work begining in Q3 2019. A total of nineteen (19) payments
will be paid within 30 days of submission for work completed in the previous quarter, starting in
Quarter 4 2019 and ending in Quarter 2 2024. The final installment (20th of 20) will be made
payable upon achievement of the following: 1) construction inspection activities end, 2) punch
list items are accepted via a letter from the City, and 3) building inspection services end and the
last Certificate of Occupancy is issued. If completion of these items occurs later than Q2 2024,
payment will be made 30 days after completion of the items. The payment plan is captured in
Attachment 3.
City Progress Reports : The City shall submit to Sound Transit quarterly progress reports and an
invoice for the quarterly payment as described above. Progress reports will include a
description of services provided by the City during the payment period, focusing on progress
made and work completed toward agreed upon activities and milestones identified in
Attachments 3, and shall use Attachment 4 for the progress reports.
Hourly Records: The City will not be required to submit records of hourly staff time spent on the
project, as the payment is based on the City meeting agreed upon activities and milestones.
Scope of Work.
A. Project Management and Administration.
A.1. Management and Administration. The key purpose of this task is to provide accurate and timely
project administration and production of quality work products to allow for Sound Transit’s design and
construction of the Project. This task will be continuous throughout the duration of this Task Order
(which extends through Project closeout – anticipated based on current schedule to be in 2024) and
includes the work necessary to set up and participate in meetings, design reviews, construction progress
meetings, monthly or quarterly invoicing, monitoring and reporting progress, and providing overall
Project coordination. The Parties anticipate that work plans will be developed as the Project proceeds
to provide greater specificity on tasks and durations of activities, which will allow for the flexibility
needed to respond to the D-B construction process. These work plans may be produced for milestone
phases, on an annual or other basis as mutually agreed by the Parties.
Deliverables
Provide quarterly invoicing and progress reporting and ongoing project management
activities.
Develop and/or refine, in collaboration with Sound Transit, annual or milestone City work
plans detailing City support to be provided to the Project.
A.2. City Project Liaison. The key purpose of the City Project Liaison is to participate in and facilitate the
intensive coordination with Sound Transit required to deliver the FWLE Project. The City Project Liaison
will be colocated at least 50% of the time at the project office. This Task Order presumes that the City
Project Liaison position will be funded by Sound Transit at 100% of an FTE. Given the mutual interests of
both Sound Transit and the City in ensuring the City Project Liaison is qualified and effective in
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Task Order 2 Attachment 1
GA 0183-17 Page 3
discharging their duties, the City shall consult with Sound Transit on the best-qualified candidate should
this position need to be refilled.
Deliverables
Colocation of City Project Liaison
Provide a job description for the City Project Liaison.
Select the best-qualified candidate for the position.
A.3. Coordination and Communication. The key purpose of coordination and communication during all
phases is to participate with Sound Transit to effectively deliver the Project. Activities include
participating in project coordination meetings and preparing for and/or following up on key topics to
advance resolution of issues that may arise during delivery of the Project.
Deliverables
Attend Sound Transit project coordination meetings.
B. Phase 1: Design Review / Early Construction.
B.1. Over-the-Shoulder Design Review. The key purpose of this task is for the City’s Project Liaison to
participate in the design review process, working closely with Sound Transit and Sound Transit’s D-B
Contractor to ensure timely review of D-B Contractor designs and materials and resolution of identified
issues and to include appropriate city subject matter experts when applicable. This process will be
ongoing throughout the Design Review process. It is anticipated that the City Project Liaison will be co-
located (at least part-time) at the Project office during this phase, and through Project heavy
construction, and their primary function will be to identify and resolve issues with Sound Transit, the D-
B Contractor and other city staff to support the design process and development of plans that satisfy the
City’s permitting requirements.
Deliverables
Co-location of City Project Liaison at Sound Transit’s construction project office, with the
amount of time spent to be determined based on Project workload.
Attend construction progress and other meetings.
Participate in resolving issues resulting from review of D-B Contractor design submittals.
B.2. Review of D-B Contractor Submittals. As part of this task, the City will participate in Sound Transit’s
review of D-B Contractor design submittals, pursuant to commitments made in the City’s Development
Agreement and as part of fulfilling commitments for expeditious Project permitting. Close coordination,
through regularly scheduled meetings referenced in Section A.1 of this Task Order and additional
meetings as needed, will be necessary to advance, review and communicate issues with the City and to
seek feedback or concurrence from the City. The City will be responsible for performing reviews of
document submittals and returning unified and coordinated comments from all relevant City
departments within a timeframe mutually agreed upon with Sound Transit. If for any reason the City
requires additional review time, the City will notify Sound Transit as soon as possible.
Deliverables
Provide consolidated and coordinated comments on D-B Contractor Design submittal
packages, consistent with the D-B Contractor’s final Project Permitting Plan.
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Task Order 2 Attachment 1
GA 0183-17 Page 4
Review and submission of consolidated comments on other D-B Contractor submittals,
including but not limited to:
o Transportation Management Plan
o Maintenance of Traffic Plan(s)
o Construction Noise and Vibration Mitigation Plan
o Construction Outreach and Communication Plan
B.3. Review/ Approve D-B Contractor Final Permitting Plan. The City will participate in the
development, review, and approval of a Final Permitting Plan submitted by Sound Transit’s D-B
Contractor. The Plan will include City commitments for timely and expedited review of design and
permit submittal packages.
Deliverables
Submit consolidated and coordinated comments on D-B Contractor draft Project Permitting
Plan.
Work in good faith to resolve comments on draft Project Permitting Plan.
Approve final D-B Contractor Project Permitting Plan.
B.4. Permitting Early Work. There will likely be activities during this phase requiring the issuance of City
permits. The following activities are currently anticipated.
B.4.1. Permitting for Early Demolition. Sound Transit began the process of acquiring property
needed for Project construction and operation in 2017. Some of the properties being acquired
in the City have structures that will require demolition as part of D-B Contractor activities. The
key purpose of this activity is to coordinate on the demolition permitting process.
Deliverables
Support process to expedite review of permits required for demolition activities
consistent with the final Project Permitting Plan.
B.4.2. Permitting for Early Foundation Construction. Under this task, City staff will work with
Sound Transit and its D-B Contractor to review and permit early work installing structural and
other foundations in advance of heavy construction.
Deliverables
Support process to expedite review of permits required for installation of structural
and other foundations consistent with the final Project Permitting Plan.
B.4.3. Permitting for Clearing and Grading. Under this task, City staff will work with Sound
Transit and its D-B Contractor to review and permit early work for clearing and grading the
Project area in advance of heavy construction.
Deliverables
Support process to expedite review of permits required to begin clearing and
grading work consistent with the final Project Permitting Plan.
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Task Order 2 Attachment 1
GA 0183-17 Page 5
B.5. Early Utility Relocation. City staff will work with Sound Transit and its D-B Contractor to review and
approve plans for early work to relocate utilities in advance of Project heavy construction.
Deliverables
Expedited review and approve early utility relocation plans and submittals consistent with
City of Kent Design and Construction Standards.
B.6. Stormwater Coordination. Under this task, City staff will work with Sound Transit and its D-B
Contractor to review and approve design of stormwater infrastructure constructed as part of the
Project.
Deliverables
Expedited review and approval of infrastructure that will be constructed as part of the
Project to manage stormwater consistent with the final Project Permitting Plan.
C. Phase 2: Heavy Construction.
C.1. Permitting. Consistent with the Final Project Permitting Plan, developed during the early
construction phase, the City will provide timely review in processing of D-B Contractor permit submittals
in a way that supports the design/build construction approach and the overall construction schedule.
Deliverables
Expedited review and approval of permits as issued to Sound Transit’s D-B Contractor for
Project construction consistent with the final Project Permitting Plan.
C.2. Design Review of Change Orders. As part of this task, City staff will review change orders, as
requested by Sound Transit, that affect City rights-of-way or for which the City may have permitting
authority. The City will review and approve changes to permits if change orders result in a change to
permit approvals. All change orders must be consistent with City codes and/or all other applicable
agreements between Sound Transit and the City of Kent.
Deliverables
Provide review and input into Project Change Orders, as requested by Sound Transit.
Submit consolidated and coordinated comments on Project Change Orders to Sound Transit
on a timeline mutually agreed to and based on the magnitude of the Change Order
proposed, provided changes are consistent with City code and all applicable agreements.
C.3. Project Inspection. The reimbursement of City staff time for Project inspection activities will focus
on all infrastructure constructed as part of the Project except for those portions of the guideway
structure beyond column foundations within the City right-of-way, to support the process of acceptance
discussed under Section E. The following categories have been identified for City inspection services and
should be used by the City for the purposes of administration and invoicing.
C.3.1. Civil Inspection
C.3.2. Tree Replacement / Landscaping Inspection
C.3.3. Stormwater Inspection
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Task Order 2 Attachment 1
GA 0183-17 Page 6
C.3.4. Mechanical Inspection
C.3.5. Building Inspection
C.3.6. Structural Inspection
C.4. Utility Relocation. During this phase, City staff will be asked to review and approve relocation plans
for utilities owned by the City and/or private utilities located on City property or within public rights-of-
way. The City will work with Sound Transit and its D-B Contractor to provide timely review of plans
submitted and to perform site inspection activities as warranted.
Review, approve, and inspect, as needed, utility relocation plans and submittals.
C.5. Fire/Life/Safety Coordination. Puget Sound Regional Fire staff, contracted by the City, will review
for fire/life/safety issues as they relate to Project design and construction.
Deliverables
Review and provide consolidated input and comments on Project issues as they relate to
Fire/Life/Safety.
C.6. Maintenance of Traffic and Transportation. Under this task, City staff will review and approve
maintenance of traffic (MOT) and other plans for temporary traffic controls proposed by Sound Transit’s
D-B Contractor.
Deliverables
Attend MOT and other meetings to discuss maintenance of traffic and transportation.
Review and approve MOT submittals provided by Sound Transit’s D-B Contractor.
C.7. Right-of-Way (ROW). The purpose of coordination between the City and Sound Transit during this
phase is to track and facilitate the process of required vacation of City rights-of-way and the dedication
and recordation of property transfers that may be made between the Parties.
Deliverables
Coordinated vacation of public rights-of-way.
Recordation of property transfers.
D. Phase 3: Systems / Rail Activation / Project Closeout.
D.1. Fire/Life/Safety Inspection. In this task, Puget Sound Sound Regional Fire Authority, under contract
to the City of Kent, will inspect structures and other elements constructed as part of the Project to
ensure that fire, life, and safety measures are certified, as appropriate, documenting their incorporation
into the Project.
D.2. Noise Monitoring / Testing. The City will be informed of the opportunity to review any noise
analysis and/or testing through over-the-shoulder review and formal submittal of design packages
related to the construction of noise wall or other mitigations to minimize LRT-generated noise.
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Task Order 2 Attachment 1
GA 0183-17 Page 7
D.3. Acceptance of City Project Infrastructure. In this task, the City will work with Sound Transit
construction staff to appropriately document the acceptance of City infrastructure constructed as part
of the Project.
D.4. Certificates of Occupancy. The City will work with Sound Transit to ensure timely issuance of
certificates of occupancy required for Project infrastructure, including LRT stations, parking garages, and
other occupied structures.
Deliverables
Punch list items are accepted via a letter from the City.
Building inspection service ends and the last Certificate of Occupancy is issues as
appropriate.
Acceptance of record drawings.
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Packaging by D-B Contractor
(Proposed Changes/60%/90%)Elements for Milestone Review City Department/Division*# of Milestone Submittals Total Plan Sheets per Milestone
Submittal
Mutually Agreed Upon
Maximum Estimated
Turnaround Time Per
Submittal
(Calendar Days)
Package by Geographic Area Demolition Building 15-45 2-5 7 days
Package by Geographic Area Civil
(Walls, Road, Grading)Civil 3-15 10-90 30
Package by Geographic Area Utilities Civil 5-10 5-30 30
Package by Geographic Area Column Foundations Civil 1-10 5-20 30
Package by Geographic Area Track TBD 1-5 15-50 N/A - courtesy
Package by Geographic Area Landscaping Civil 1-5 5-30 30
Each Station Station (includes foundations)Building 2-10 60-120 30
Each Station Garage (include foundations)Building 2-10 60-120 30
Package by Geographic Area Columns Structural 1-10 5-10 N/A - courtesy
Systems System System 1-5 15-75 N/A - courtesy
Station, Garage, Bridges Midway Design Review
(60%/100% package only)Planning 3-5 10-20 30
* D-B will work with City Liaison to identify specific areas requiring resolution for each package and create a cover sheet of contents prioritized to focus City review.
Permit City to Inspect
(Yes/No)City Department/Division # of Permits
Mutually Agreed
Upon Maximum
Estimated Turnaround
Time Per Permit
(Calendar Days)
Demolition Permits Yes Civil 15-45 7
Traffic Control Plans (haul routes)Yes Civil 1-5 10
Grade and Fill Permit (includes foundation
work area)Yes Civil 5-15 30
Civil Construction Permit - foundations in
ROW Yes Civil 4-8 30
Civil Construction Permit - landscape in ROW Yes Civil 1-4 30
Civil Construction Permit - utilities Yes Civil TBD 10
Building Permit - TPSS foundation Yes Building 1-2 14
Building Permit - Walls Yes Building 1-12 30
Civil Construction Permit - civil improvements Yes Civil 4-6 30
Civil Construction Permit - station/ garage
landscape Yes Civil 2-6 21
Building KDM garage Yes Building 2-6 60
Building KDM station Yes Building 2-6 60
Building 272nd garage Yes Building 2-6 60
Building 272nd station Yes Building 2-6 60
Building permit - garage/station foundations Yes Building 2-6 21
Mechanical Permits Yes Civil 2-6 21
Plumbing Permits Yes Civil 2-6 21
Fire Permits Yes Civil 3-8 14
Sign Permit Yes Civil 1-10 14
Electrical (TPSS feed)No N/A 1-4 14
Noise Variance for nighttime work Yes Civil 0-15 7
Notes
1. The above permits, packages, sizes and durations are a guideline and meant to further inform discussions between the D-B and AHJ.
2. If the Design-Build team's plan and packaging approach is generally within the limits shown above, the review turn around times will be met by the AHJ.
Design-Build team will propose a permit plan. The plan may separate packages by geographic areas, by station, and/or by discipline.
3. Design-Build team to obtain approval of the final permit plan from AHJ.
4. Submittal frequency assumes minimum 2 working days between all AHJ submissions (minimum 7 working days between Thanksgiving and Christmas); minimum 3 working days required between submissions to the same city department/division.
5. Turnaround time is defined as the time from submission of a complete submittal and/or permit to the AHJ to the return of submission and/or permit (typically with comments) to the Design-Build team by AHJ. Duration excludes day of submission.
6. The commitment for timing of City action is contingent on an adequate level of staffing as mutually agreed by the parties and captured in a Task Order under the City Services Agreement.
FWLE Preliminary Permitting Plan - Draft of Guidance to D-B
City of Kent
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Task Order 2 Attachment 3
Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 1
PHASE 1: Design Review/Early Construction (July 2019 – February 2020)
Key City Activities Achievement Milestones Payment Schedule
Participate in the development, review, and approval
of a Final Permitting Plan including the development
of an agreed to process for expedited permit review
and approval
Participate in the timely review of design submittals of
early work and return consolidated and coordinated
comments from all relevant City departments
Participate in resolving issues resulting from review of
the design submittals
Review and approve other Contractor required plans
Review and approve plans for early work to relocate
utilities
Provide accurate and timely project administration
and coordination
Participate in project coordination meetings
City Liaison is co-located at Sound Transit’s
construction project office
Final Permitting Plan approved by Sound
Transit and City including the process to
expedite permit review
Final Contractor mitigation plans approved by
Sound Transit and the City
City issues permits needed to begin early
construction activities, such as demolition and
clearing and grading, to support Project
schedule
Payment 1 (October 15, 2019)
Q3 2019 Staffing/Permitting -
$335,000
Payment 2 (January 15, 2020)
Q4 2019 Staffing/Permitting -
$335,000
PHASE 2: Heavy Construction (March 2020 – March 2023)
Key City Activities Achievement Milestones
Participate in permit-focused, over-the-shoulder,
discipline-specific meetings described in the D-B
Permitting Plan
Provide timely review and processing of design and
permit submittals in a way that supports the
construction approach and the overall construction
schedule
Participate in resolving issues resulting from review of
the design submittals
Review change orders as requested that affect City
City issues permits needed for heavy
construction activities, including site
construction, building, and trade permits, to
support Project schedule
Payment 3 (April 15, 2020)
Q1 2020 Staffing/Permitting -
$335,000
Payment 4 (July 15, 2020)
Q2 2020 Staffing/Staffing -
$335,000
Payment 5 (October 15, 2020)
Q3 2020 Staffing/Permitting -
$335,000
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Task Order 2 Attachment 3
Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 2
rights-of-way
Provide timely inspection activities on infrastructure
constructed as part of the Project that will be under
the City’s ownership
Payment 6 (January 15, 2021)
Q4 2020 Staffing/Permitting -
$335,000
Payment 7 (April 15, 2021)
Q1 2021 Staffing/Permitting -
$335,000
Payment 8 (July 15, 2021)
Q2 2021 Staffing/Permitting -
$335,000
Payment 9 (October 15, 2021)
Q3 2021 Staffing - $335,000
Payment 10 (January 15, 2022)
Q4 2021 Staffing - $335,000
Payment 11 (April 15, 2022)
Q1 2022 Staffing - $335,000
Payment 12 (July 15, 2022)
Q2 2022 Staffing - $335,000
Payment 13 (October 15, 2022)
Q3 2022 Staffing - $335,000
Payment 14 (January 15, 2023)
Q4 2022 Staffing - $335,000
Payment 15 (April 15, 2023)
Q1 2023 Staffing - $335,000
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Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 3
PHASE 3: Systems/Rail Activation/Project Closeout (April 2023 – Achievement of Milestones)
Key City Activities Achievement Milestones
Track and facilitate the process of required vacation of
City rights-of-way and dedication and recordation of
property
Resolve any outstanding issues as they arise
Review and accept record drawings
Complete Acceptance of Work activities such as by
issuing letters of acceptance
Complete and document inspections to ensure
permitted work is executed according to permit
requirements
Heavy construction and inspection activities
end
Punch list items are accepted via a letter from
the City
Building inspection services end and the last
Certificate of Occupancy is issued as
appropriate
Payment 16 (July 15, 2023)
Q2 2023 Staffing - $335,000
Payment 17 (October 15, 2023)
Q3 2023 Staffing - $335,000
Payment 18 (January 15, 2024)
Q4 2023 Staffing - $335,000
Payment 19 (April 15, 2024)
Q1 2024 Staffing - $335,000
Payment 20 (Final Payment, Date
TBD)
Staffing - $335,000
Final payment will be made
payable upon achievement of the
following: 1) construction
inspection activities end, 2) punch
list items are accepted via a letter
from the City, and 3) building
inspection services end and the last
Certificate of Occupancy is issued.
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Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 4
CITY OF KENT INVOICE COVER TEMPLATE
ISSUING COMPANY AND REMITTANCE ADDRESS
Prime Firm
Address Line 1
Address Line 2
Tel: (XXX) XXX-XXXX
Fax: (XXX) XXX-XXXX
INVOICE NUMBER
XXXXXXX
DATE
XX/XX/XXXX
Attn: Designated Representative
Sound Transit Union Station
401 South Jackson Street
Seattle, WA 98104-2826
PURCHASE ORDER NUMBER
XXXX
PRIME PROJECT NUMBER
GA 0183-17
PERIOD COVERED
From: XX/XX/XXXX To: XX-XX-XXXX
PROJECT TITLE
FWLE City of Kent Task Order 2
GA 0183-17
Total Invoice Amount $ __________
PAYMENT REQUEST NUMBER ___________________
Total To Date:
Total Previously Invoiced:
Amount This Invoice:
Amount Paid to Date:
Amount Outstanding:
Original Contract Amount:
Approved Change Orders:
Total Authorized Contract Amount:
Remaining Contract Amount:
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
I certify that the charges invoiced are true and correct and include only such charges as were directly incurred in
the performance of work on the project, have not been previously submitted, and are in accordance with terms of
the Agreement.
_____________________________________________
[Project Manager Name]
[Title]
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Task Order 2 Attachment 3
Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 5
Payment Progress Detail Template
(Please Submit with each invoice)
Invoice #:__________________ Period covered:__________________
PHASE 1: Design Review/Early Construction
Key City Activities Achievement Milestones
Participate in the development, review, and
approval of a Final Permitting Plan including the
development of an agreed to process for
expedited permit review and approval
Participate in the timely review of design
submittals of early work and return consolidated
and coordinated comments from all relevant
City departments
Participate in resolving issues resulting from
review of the design submittals
Review and approve other Contractor required
plans
Review and approve plans for early work to
relocate utilities
Provide accurate and timely project
administration and coordination
Participate in project coordination meetings
City Liaison is co-located at Sound Transit’s
construction project office
Final Permitting Plan approved by Sound
Transit and City including the process to
expedite permit review
Final Contractor mitigation plans approved by
Sound Transit and the City
City issues permits needed to begin early
construction activities, such as demolition and
clearing and grading, to support Project
schedule
Please insert narrative summarizing activities and progress towards achievement milestones:
6.c
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Task Order 2 Attachment 3
Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 6
Payment Progress Detail Template
(Please Submit with each invoice)
Invoice #:__________________ Period covered:__________________
PHASE 2: Heavy Construction
Key City Activities Achievement Milestones
Participate in permit-focused, over-the-
shoulder, discipline-specific meetings described
in the D-B Permitting Plan
Provide timely review and processing of design
and permit submittals in a way that supports the
construction approach and the overall
construction schedule
Participate in resolving issues resulting from
review of the design submittals
Review change orders as requested that affect
City rights-of-way
Provide timely inspection activities on
infrastructure constructed as part of the Project
that will be under the City’s ownership
City issues permits needed for heavy
construction activities, including site
construction, building, and trade permits, to
support Project schedule
Please insert narrative summarizing activities and progress towards achievement milestones:
6.c
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Task Order 2 Attachment 3
Achievement Milestones and Payment Plan
Task Order 2 Attachment 3
GA 0183-17 Page 7
Payment Progress Detail Template
(Please Submit with each invoice)
Invoice #:__________________ Period covered:__________________
PHASE 3: Systems/Rail Activation/Project Closeout
Key City Activities Achievement Milestones
Track and facilitate the process of required
vacation of City rights-of-way and dedication
and recordation of property
Resolve any outstanding issues as they arise
Review and accept record drawings
Complete Acceptance of Work activities such as
by issuing letters of acceptance
Complete and document inspections to ensure
permitted work is executed according to permit
requirements
Heavy construction and inspection activities
end
Punch list items are accepted via a letter from
the City
Building inspection services end and the last
Certificate of Occupancy is issued as
appropriate
Please insert narrative summarizing activities and progress towards achievement milestones:
6.c
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CIW SERVICES AGREEMENT
BETWEEN THE CIW OF KENT AND SOUND TRANSIT
FOR CIW COSTS RETATEDTO SOUNDTRANSIT PROJECT REVIEW AND PERMITTING
This Agreement is entered into between the City of Kent (City), a Washington municipal corporation,
and Sound Transit, a regional transit authoraty of the State of Washington for the purposes set forth
below.
RECITALS
A. The City is a non-charter rnunicipal code city incorporated under the laws of the State of
Washington, with authority to enact laws and enter into agreements to promote the health, safety, and
welfare of iti citizens and for other lawful purposes.
B. Sound Transit is a regionaltransit authority created pursuant to Chapters 81.104 and 81.112
RCW with all powers necessary to implement a high capacity transit system within its boundaries in
King, Pierce, and Snohomish Counties.
C. The City is responsible for administering state and local land use laws and development
regulations that will apply to Sound Transit projects located within the City jurisdiction. The City is also
responsible for managing streets and municipal utilities within its jurisdiction and for providing
municipalservices such as public safety.
D. The Sound Transit Long Range Transit Plan identifies the Federal Way Link Extension (FWLE)
Project within the City's jurisdiction.
E. Sound Transit completed environmental review of the FWLE Project with the issuance of a Final
Environmental lmpact Statement (ElS) on November 18, 2016 and the Sound Transit Board identified
the project to be built by passing Resolution R20!7-OZ on January 26,2O!7. The Federal Transit
Administration (FTA) issued a Record of Decision on March 6,2OI7 and the Federal Highway
Administration (FHWA) issued a Record or Decision on March g, ZOL7.
1. General
1.1 Purpose. Sound Transit's FWLE Project includes facilities to be constructed within the City's
jurisdiction. lnteraction will be required between the City and Sound Transit to prepare, review and
approve agreements, prepare construction plans and to secure property rights, permits, and approvals
from the City for the construction of Sound Transit's facilities. The intent of this Agreement is to
establish a task order process for Sound Transit to pay the City for the costs of providing various review
and approval services that will be necessary to design, permit and construct Sound Transit facilities
within the City.
2. Designated Representatives
The City and Sound Transit have designated formal points of contact and coordination for this
Agreement as shown below. Each designated representative is responsible for coordinating the input
and work of its agency, consultants, and staff as it relates to the objectives of this Agreement. The
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Parties may change designated representatives by written notice to the other Party during the term of
this Agreement. Task orders may designate other individuals as points of contact for each task order.
e!!y Sound Transit
Name Ben Wolters
Title Economic & Community Dev. Director
Address 400 W- Gowe Street
Kent WA 98032
Phone 253-856-5703
Email bwolters@kentwa.gov
Dan Abernathy
Project Director
401 S. Jackson Street
Seattle, WA 98104-2826
(205) 903-7170
dan.abernathy@soundtra nsit.org
Name
Title
Address
Phone
Email
3. Cooperation and Good Faith Efforts
3.1 The Parties understand and agree that the activities described in this Agreement depend upon
timely and open communication and cooperation between the Parties. ln this regard, communication of
issues, changes, or problems that arise with any aspect of the work should occur as early as possible in
the process, and not wait for explicit due dates or deadlines. Each Party agrees to work cooperatively
and in good faith toward resolution of any such issues.
The Parties acknowledge that this Agreement contemplates the execution and delivery of additional
documents in the future, such as the Development Agreement, which will define the development
regulations for this PQect and establish a vesting date, as well as the required construction permits.
The Parties agree to provide the necessary resources and to work in good faith to develop the final form
and contents of such documents, instruments and permits, and to execute and deliver the same
promptly.
4. Environmental Review
4,1 Sound Transit ls the lead agency for compliance with SEPA. ln coordination with the City and
other agencies with jurisdiction, Sound Transit has completed the substantive and procedural
environmental review for the Project in accordance with SEPA requirements. The environmental review
covers the City's issuance of permits for the Project as well as environrnental mitigation, and the City will
use and rely upon the existing environmental documents to satisfy its SEPA responsibilities, consistent
with WAC 197-LL-500. The foregoing is not intended to limit the City's authority to impose reasonable
permit conditions pursuant to its development regulations,
5. Essential Public Facilities
5.1 The Parties agree that the FWLE Project is a regional transportetion facility that has the status of
an essential public facility ("EPF") and that the requirements of RCW 36.70A.200 are applicable. Under
RCW'36.70A, the City may not utilize development regulations to render impracticable Sound Transit's
decisions on siting and location of the Project; however, the City may impose reasonable permit
conditions on the Project.
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)6. Task Orders for City Seryices
5.1. General Aoproach. Sound Transit agrees to pay the City for the costs associated with particular
tasks that:
. Are required because of the implementation of Sound Transit's FWLE Project in the City and
e Sound Transit asks the City to undertake.
This may include tasks that Sound Transit asks the City to complete on a shorter schedule than the City
would otherwise follow. City services are described in further detail in Section 5.3.
ln general, Sound Transit will not pay the City for the costs associated with the following:
o Coordination between Sound Transit and the City normally provided as between government
agencies.
City services provided in the ordinary course of business and on the City's usual time and
schedule.
a
. CitV services that Sound Transit will pay for under existing land use, permitting, or other City fee
schedules.. An exception to this exclusion would occur if a task order or other agreement
establishes a different payment structure in lieu of the established payments and fees.
6,2 Task Orders. Prior to any payment under this agreement, a task order must be prepared and
executed by the Parties for each work effort to be covered by this Agreement. A list of possible task
orders is attached as Exhibit A. Task orders shall be in a format similar to that shown in Exhibit B. Each
task order shall contain a scope of work, a detailed cost estimate, and a detailed schedule of work so
that the City can determine staff resources needed for the Project. The cost estimate shall establish a
maximum funding level for the task order. Each task order shall be executed by authorized
representatives of Sound Transit and the City and shall incorporate by reference the provisions of this
Agreement.
6.3 Citv Seruices. Task orders may address some or all of the following types of activities as
appropriate to the project or phase. Each task described below is optional and should only be included
in Task Orders when the City and Sound Transit agree it is appropriate. Sound Transit shall provide an
overall project schedule to the City prior to executing any task order.
A. Proiect Admlnistratlon.
A.1. Coordination and Communication. Activities including participation at regularly scheduled
project-levelcoordination meetings and providing on-going project management activities, as
well as central coordination of all submittal reviews, comment coordination and consolidation,
and identification of projects or proposals (i.e. municipal utility or public works projects or
private development projects) that have the potential to conflict with or interfere with Sound
Transit's Projects.
A.2 Manasement and Administration. Project management activities including staffing, budget,
and schedule management, progress reports and invoicing, and other related activities.
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A.3 Asreements. Review and approval of Memoranda of Understanding, Development
Agreements, Services Agreements, Task Orders and other related activities.
B. Desian Review. Project design review consisting of informal "over the shoulder" (OTS)
reviews and formal design submittals for which the City is expected to provide formal comments
to Sound Transit.
8.1. OTS Review. OTS review meetings may be scheduled on an as-needed basis to keep Project
team members apprised of developments in the design process, seek feedback or concurrence
from the City on aspects of the design as it is progressing, and to determine whether the design
is consistent with City codes and regulations.
8.2. Formal Submittals. Sound Transit will occasionally submit design review packages to the City
for formal review and comment during the earlier project phases and regularly during the
permitting and construction phases. The design review packages, including specific timeframes
for Sound Transit to provide advance notification to the City and for City review, are to be
described in the scopes of work included in Task Orders. lf the City foresees that comments will
not be returned within the agreed upon timeframe, the City shall notify Sound Transit of the
delay as soon as possible so the Parties can determine an acceptable solution. City comments
should identifu any aspects of the design that do not meet City codes and regulations so the
inconsistency can be corrected.
C, Plannino and Desion Coordinotion,
C,1 Station Access lmprovernents. Coordination between the City and Sound Transit with regard
to station access improvements, such as placement of kiss and ride facilities, ride share services,
and other emerging technologies, transit integration, wayfinding, and non-motorized access
improvements.
C.2 Transit Oriented Develooment (TOF). City services to partner with Sound Transit to
incorporate TOD principles during project design and permitting and to support Sound Transit in
evaluating TOD opportunities on Sound Transit owned properties that will no longer be needed
after construction is complete, or opportunities for development around Sound Transit facilities.
C.3 Rieht-of-Wav. Coordination between the City and Sound Transit with regard to City ROW.
This may include review of a Development and Transit Way Agreement, necessary temporary
easements or street vacations, or any other actions/transfers involving City ROW.
C.4 Joint Proiects or Partnerships. City services that meet the general approach described in
Section 5.L where partnership will occur for a related separate City project, that ST may be
contributing to as mitigation or project enhancement, or if there is a third party project (private,
WSDOI utility) that 5T and the City need to coordinate with, or if there is something specific
that ST needs to incorporate into the Sound Transit Project.
D, Permlts ond Aporovals,
D.1. Establish Permit Process. City coordination with Sound Transit to determine a streamlined
and consolidated permitting process for the Project that would allow for the City to review and
process permits in the most expeditious manner allowable under applicable laws. This may
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6.4
include the preparation of a development and transit way agreement, development code
amendments, or other types of documents to implement a permitting process.
D.2. Permitting and lnspection Activities. City permitting activities directly related to permit
processing, approval and issuance, including inspections, if these activities are not already
provided for through standard permitting fees.
E. Other Services. Other services as deemed appropriate by the City and Sound Transit.
Elisible Costs. The following types of expenditures shall be eligible for reimbursement:
Direct project costs including labor charges at the employees' current salary rates, any
incremental raises they may receive during the Task Order period, applicable employee benefits
and overhead.
a
Direct non-salary costs reimbursed at the actual cost to the City, including but not limited to
travel expenses or meeting room charges.
All consultant costs that are consistent with the activities identified in the Task Order Scope of
Work and within the Task Order Cost Estimate.
This Agreement does not cover the City's normal capital and operating expenses such as
buildings, office equipment, maintenance, security, utilities, or vehicles, except those expenses
normally included in the City's cost-based fee calculation for services. However, if the City
requires additional personnel to fulfill its obligations under this Agreement and additional
workspace is required for such personnel, the City and Sound Transit agree that the expenses
for additional staff accommodations is not normal and each party agrees to negotiate the
allocation of any such expenses in good faith.
6.5 Performance. lf the City does not perform the services according to the Task Orders, does not
provide formal review comments within the Design Submittal review times set forth in Section 5.3, or
fails to identify development code conflicts that require design changes during the permitting process
and if the failure to perform is solely attributable to the City's actions or inactions, corrective action
must be taken by the City. Appropriate corrective action will first be established by the City and Sound
Transit Designated Representatives. Should corrective action not resolve the problem within one (1)
week, the dispute resolution process may be commenced. This Section 6.5 is not intended to create any
financial liability on the part of City. However, Sound Transit and the City may agree to specific
resolutions including a reduction in the fees owed by Sound Transit to the City.
T.lnvoicing
7.t The City shall submit invoices and supporting documentation for task order payments. The
invoices must include the appropriate purchase order number, which Sound Transit will provide after
execution of each task order, a cover memo including a description of services provided by the City, and
supporting documentation detailing the work completed and associated costs.
7.2 The City shall submit its invoices with the required documentation via email or mail to
AccountsPayable@SoundTransit.org, or Sound Transit, Accounts Payable, 401. S. Jackson St., Seattle, WA
98104-2825. Invoices are payable thirty (30) days upon Sound Transit's receipt of the invoice and
a
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acceptable documentation. The payment documentation shall identify the invoice number and any
differences between the invoice and payment.
7.3 lf Sound Transit determines that an invoice lacks sufficient documentation to support payment,
Sound Transit will notify the City of its determination within five (5) business days of receipt of the
invoice and request that the City provide additional documentation. Sound Transit may withhold
payment for contested portions of the invoice until supporting documentation for the contested
portions are provided, however such approval shall not be unreasonably withheld.
8. Suspension and Termination
8.1 lf the City has not received payment from Sound Transit as provided in Section 7, the City may
suspend performance of all or any part of the associated work after giving Sound Transit thirty (30) days'
notice of City's intent to do so. Such suspension shall remain in effect until payment is made in full, at
which time the suspension shall be lifted.
8.2 Either Party may terminate this Agreement for cause in the event that the other Party fails to
fulfill its material obligations under this Agreement in a timely manner or breaches any material
provision of this Agreement and the dispute resolution process identified in Section 1.0 has failed to
reach resolution within the timelines described therein. The Party wishing to terminate this Agreement
for cause shall provide the other Party with notice of its intent to terminate and shall give the other
Party an opportunity to correct the failure to perform or breach within thirty (30) days of the notice or
within such longer period as may be necessary in the event that correction cannot reasonably be
accomplished within thirty (30) days. lf the failure or breach is not corrected or cured, this Agreement
may be terminated by the aggrieved party by giving ninety (90) days' notice to the other Party.
8.3 This Agreement shall also terminate with the mutual consent of both parties.
8.4 Except as provided in this Section, a termination by either Party shall not extinguish or release
either Party from liability for costs or obligations existing as of the date of termination. Any costs
incurred prior to proper notification of termination will be borne by the Parties in accord with the terms
of this Agreement.
9.Indemnity
9.1 Each Party agrees to hold harmless, indemnify, and defend the other Party, its officers, agents,
and employees, from and against any and all claims, losses or liability, for injuries, sickness or death of
persons, including employees of the indemnifoing Party, or damage to property, arising out of any willful
misconduct or negligent act, error, or omission of the indemnifying Party, its officers, agents, or
employees, in connection with the services required by this Agreement, provided, however, that:
9.1.1 The indemnifying Party's obligations to indemnify, defend and hold harmless shall not
extend to injuries, sickness, death or damage caused by or resulting from the sole willful
misconduct or sole negligence of the other Party, its officers, agents or employees; and
9.1,2 The indemnifiTing Party's obligations to indemnify, defend and hold harmless for
injuries, sickness, death or damage caused by or resulting from the concurrent negligence or
willful misconduct of the indemnifying Party and the other Party, or of the indemnifying Party
and a third party other than an officer, agent, or employee of the indemnifying Party, shall apply
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only to the extent of the negligence or willful misconduct of the indemnifying Party, its officers,
agents, or employees.
9.2 Each Party agrees to bear full responsibility for any and all tax liabilities owed that may arise in
relation to this Agreement, and each Party shall fully indemnify and hold the other Party, its officers,
agents and employees harmless from any tax liability owed by other Party arising from or related to the
transactions set forth herein, including, but not limited to, any taxes, penalties, fines, and/or interest
that are assessed by any tax authority against the indemnifying Party and further including all attorneys'
fees and costs incurred in response to any claims or assessments by any tax authority against
indemnifoing Party, its officers, agents and employees.
9.3 The obligations in this Section shall survive termination or completion of this Agreement as to
any claim, loss or liability arislng from events occurring prior to such termination or completion.
10. Dispute Resolution
10.1 Prior to taking or joining any action in any judicial or administrative forum to challenge actions
of the other pafi associated with the Agreement, the Parties agree to follow the dispute resolution
process set out in this section.
t1.z The Partles agree to use their best efforts to prevent and resolve potential sources of conflict at
the lowest level possible.
10.3 Any disputes or questions of interpretation of this Agreement or the performance of either
Party under this Agreement that may arise between Sound Transit and the City shall be governed under
the dispute resolution provisions in this Section. The Parties agree that cooperation and communication
are essentialto resolving issues efficiently.
7O.4 Either Pafi may refer a dispute to the dispute resolution process by providing written notice of
such referral to the other Party's Designated Representative. The Parties agree to use their best efforts
to resolve disputes arising out of or related to this Agreement using good faith neBotiations by engaging
in the following dispute resolution process should any such disputes arise:
10.4.1 Level One - Sound Transit's Designated Representative and the City's Designated
Representative shall meet to discuss and attempt to resolve the dispute in a timely manner. lf
they cannot resolve the dispute within fourteen (14) days after referral of that dispute to Level
One, either party may refer the dispute to Level Two.
10.4.2 Level Two - Sound Transit's Executive Project Director, and the City's Public Works and
Economic and Community Development Directors shall meet to discuss and attempt to resolve
the dispute, in a timely manner. lf they cannot resolve the dispute within fourteen (14)days
after referral of that dispute to Level Two, either party may refer the dispute to Level Three.
10.4.3 LevelThree - Sound Transit's Executive Director, Engineering and Construction
Management or Designee and the City's Chief Administrative Officer or Designee shall meet to
discuss and attempt to resolve the dispute in a timely manner.
10.5 Except as otherwise specified in this Agreement, in the event the dispute is not resolved at Level
Three within fourteen (14) days after referral of that dispute to Level Three, the Parties are free to file
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suit, seek any available legal rernedy, or agree to alternative dispute resolution methods such as
mediation. At all times prior to resolution of the dispute, the Parties shall continue to perform any
undisputed obligations and make any undisputed required payments under this Agreement in the same
manner and under the same terms as existed prior to the dispute. Notwithstanding anything in this
Agreement to the contrary, neither party has an obligation to agree to refer the dispute to mediation
nor other form of dispute resolution following completion of Level Three of the process described
herein. Such agreement may be withheld for any reason or no reason.
11. Remedies and Enforcement
11.1 The Parties reserve the right to exercise any and all of the following remedies, singly or in
combination, and consistent with the dispute resolution and default Sections of this Agreement, in the
event the other violates any provision of this Agreement:
11.1.1 Commencing an action at law for monetary damages;
II.7.2 Commencing an action for equitable or other relief;
11.1.3 Seeking specific performance of any provision that reasonably lends itself to such
remedy; and/or
11.1.4 Each party shall be responsible for its own attorney's fees and costs.
tL.z All remedies set forth above are cumulative and the exercise of one shall not foreclose the
exercise of others.
11.3 Neither Pafi shall be relieved of its obligations to comply promptly with any provision of this
Agreement by reason of any failure by the other Party to enforce prornpt compliance, and such failure
to enforce shall not constitute a waiver of rights or acquiescence in the other Party's conduct.
12. Duration of Agreement
L2.I This Agreement shall take effect upon the last date of signature by the Parties as set forth
below. This Agreement shall remain in effect until all Sound Transit Projects contemplated by this
Agreement are completed and open to the public, unless this Agreement is extended by mutual
agreement of the Parties, or unless this Agreement is superseded by a future agreement or is sooner
terminated as provided in Section 8 above.
13. Warranties
13.1 By execution of this Agreement, the City warrants:
13.1.1 That the City has the full right and authority to enter into and perform this Agreement,
and that by entering into or performing this Agreement the City is not in violation of any law,
regulation or agreement by which it is bound or to which it is bound or to which it is subject; and
L3.LZ That the execution, delivery and performance of this Agreement by the City has been
duly authorized by all requisite corporate action, that the signatories for the City hereto are
authorized t<i sign this Agreement, and that upon approval by the City, the joinder or consent of
any other party, including a court or trustee or referee, is not necessary to make valid and
effective the execution, delivery and performance of this Agreement.
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13.2 By execution of this Agreement, Sound Transit warrants:
L3.2.L That Sound Transit has the full right and authority to enter into and perform this
Agreement, and that by entering into or performing this Agreement Sound Transit is not in
violation of any law, regulation or agreement by which it is bound or to which it is bound or to
which it is subject; and
L3.2.2 That the execution, delivery and performance of this Agreement by Sound Transit has
been duly authorized by all requisite corporate action, that the signatories for Sound Transit
hereto are authorized to sign this Agreement, and that upon approval by Sound Transit, the
joinder or consent of any other party, including a court or trustee or referee, is not necessary to
make valid and effective the execution, delivery and performance of this Agreement.
14. Administration of Agreement
L4.7 This Agreernent will be jointly administered by Sound Transit's Designated Representative and
the City's Designated Representative.
74.2 Each Party shall bear its own costs of administering this Agreement.
1-4.3 Each party shall be responsible for its own public records and public records requests,
15. Posting of Agreement
15.1. Pursuant to RCW 39.34.040, each party shall list this Agreement on its website by subject matter
and shall post a copy in an electronically retrievable source for public viewing in accordance with its
policy.
16. Assignment and Beneficiaries
15.1 Neither Pafi may assign all or any portion of this Agreement without the express written
consent of the other Party. There are no third party beneficiaries to this Agreement.
17. Notices
17 '7 Unless othen^/ise provided herein, all notices and communications concerning this Agreement
shall be in writing and addressed to the Designated Representative.
L7.2 Unless otherwise provided herein, all notices shall be either: (i) delivered in person, (ii)
deposited postage prepaid in the certified mails of the United States, return receipt requested, (iii)
delivered by a nationally recognized overnight or same-day courier service that obtains receipts, or (iv)
delivered electronically to the other party's Designated Representative as listed herein. However, notice
under Section 7, Suspension and Termination, must be delivered in person or by certified mail, return
receipt requested.
18. Audits
18.1 Sound Transit and the City shall maintain accounts and records, including contract and financial
records, which sufficiently and properly reflect all direct and indirect costs of any nature expended for
work performed under this Agreement so as to ensure proper accounting for all monies paid to the City
by Sound Transit. These records shall be maintained for a period of six (5) years after termination or
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expiration of this Agreement unless permission to destroy the records is granted by the Office of the
Archivist pursuant to RCW Chapter 40.14 and agreed to by the City and Sound Transit.
19. General Provisions
19.1 The Parties shall not unreasonably withhold requests for information, approvals, or consents
provided for in this Agreement; provided, however, that approvals or consents required to be given by
vote of the Sound Transit Board or Kent City Council are recognized to be legislative actions. The Parties
agree to take further actions and execute further documents, either jointly or within their respective
powers and authority, to implement the intent of this Agreement provided, however, that where such
actions or documents must be first approved by vote of the Sound Transit Board or Kent City Council,
such actions are recognized to be legislative actions. The City and Sound Transit agree to work
cooperatively with each other to achieve the mutually agreeable goals as set forth in this Agreement.
t9.2 This Agreement shall be interpreted, construed and enforced in accordance with the laws of the
State of Washington. Venue for any action under this Agreement shall be King County, Washington.
19.3 This Agreement shall be binding upon and inure to the benefit of successors and assigns of the
City and Sound Transit.
I9.4 Time is of the essence in every provision in this Agreement. Unless otherwise set forth in this
Agreement, the reference to "days" shall mean calendar days unless otherwise noted. Any reference to
"working days" shall exclude any City holidays and weekend days. lf any time for action occurs on a
weekend or legal holiday, then the time period shall be extended automatically to the next business day
L9.5 This Agreement is made and entered into for the sole protection and benefit of the Parties
hereto and their successors and assigns. No other person shall have any right of action based upon any
provision of this Agreement.
19.6 No joint venture or partnership is formed as a result of this Agreement. No employees, agents
or subcontractors of one party shall be deemed, or represent themselves to be, employees of any other
party.
19.7 This Agreement has been reviewed and revised by legal counsel for all parties and no
presumption or rule that ambiguity shall be construed against the party drafting the document shall
apply to the interpretation or enforcement of this Agreernent. The Parties intend this Agreement to be
interpreted to the full extent authorized by applicable law.
L9.8 Each Party shall be responsible for its own costs, including legal fees, incurred in negotiating or
finalizing this Agreement, unless otherwise agreed in writing by the parties.
19.9 This Agreement and related task orders may be amended only by a written instrument executed
by each of the Parties hereto.
19.10 This Agreement may be executed in several counterparts, each of which shall be deemed an
original, and all counterparts together shall constitute but one and the same instrument.
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) 20. Severability
2O.1 ln case any term of thris Agreement shall be held invalid, illegal, or unenforceable in whole or in
part, neither the validity of the remaining part of such term nor the validity of the remaining terms of
this Agreement shall in any way be affected thereby.
21. Clty's Permitting and ReBulatory Authority
ZJ,.L Nothing in this Agreement shall be deemed a waiver of the City's regulatory authority nor a
predetermination of the compliance of the Project with applicable codes and regulations.
lN WITNESS WHEREOF, each of the Parties has executed this Agreement by having its authorized
representative affix his/her name in the appropriate space below:
SOUND TRANSTT THE OF KENT
By:By
Peter M, Rogoff, Chief tive Officer Derek Matheson, Chief Administrative Officer
Date: I z5^ll Date:
)
Authorized by Motion No.
M20r.7-68
Approved as to form:
By By
Amy jo ll, Senior Legal Counsel
EXI.IIBITS
Exhibit A: Anticipated Task Orders under this Agreement
Exhibit B:Task Order Format
Approved as to form:
Bru ba ker,ity Attorney
Authorized by pity Council
Motion on +(t ff, zotz.
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rl Exhibit A
Possible Task Orders
Task Order 1 - Federal Way Link Extension Request for Proposals Preparation Phase
Task Order 2 - Federal Way Link Extension Design-Build Procurement Phase
Task Order 3 - Federal Way Link Extension Permitting and Pre-Construction Phase
Task Order 4 - Federal Way Link Extension Construction Phase
)
U
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Exhibit B
Task Order Format
CIW SERVICES AGREEMENT
BETWEEN THE CIW OF XX AND SOUND TRANSIT
FOR CIW SERVICES AND COSTS REI.ATED TO SOUND TRANSIT PROJECT REVIEW AND PERMITTING
Task Order _: Title
This Task Order is issued under the City Services Agreement between the City of XX and Sound
Transit for City Services and Fees Related to Sound Transit Project Review and Permitting dated
2017. This Task Order establishes the scope, schedule, and budget for the seryices provided
by the City (Services) for the Sound Transit PROJECT/PHASE. The City agrees to perform the Services in
the manner set forth in this Task Order, The terms and conditions of the City Services Agreement a re
incorporated into this Task Order unless expressly modified below.
The effective date of this Task Order is 20_.
Proiect Description. General Description of the work to he performed. May also include definitions if
helpful/oppropriate.
o The Scope of Work is included as Attachment 1 to this Task Order.
r The Schedule is included as Attachment 2 to this Task Order.
r The Cost Estimate is included as Attachment 3 to this Task Order.
The authorized representatives of the parties have agreed to the terms of this Task Order by signing
below.
For the CitV
Signature
Title
Date
Approved as to Form:
Name, City Attorney
For Sound Transit
Signature
Title
Date
Approved as to Form
Name, Sound Transit Legal Counsel
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Task Order Attachment 1: Scope of Work.
Provide detoiled informotion regording City Services contemplated by each task order. l)se "Not used"
for items not included in the scope for consistency among tosk orders.
A, Proiect Adm inistration.
A.1. Coordination and Communication.
A.2 Manaeement and Administration.
A.3 Agreements.
B. Desien Review.
8.1. OTS Review.
8.2. Formal Submittals.
C. Plannine and Desien Coordinatign.
C.1 Station Access lmprovements.
C.2 Transit Oriented Develooment (TOD).
C.3 Risht-of:Wav.
C.4 Joint Proiects or External Proiect Coordination.
D. Permits and Approvals.
D.1. Establish Permit Process.
D.2. Permitting and lnspection Activities.
E. Other Work.
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Task Order Attachment 2: Estimated Schedule.
Task Start Month End Month
A.1. Coordination and Communication
A.2. Management and Administration
A.3 Agreements
8.L. OTS Review
B.2. FormalSubmittals
C.1. Station Access
C.2. Transit Oriented Design
C.3, Right-of-Way
C.4. Joint Projects or Partnerships
D.1 Establish Permit Process
D.2. Permitting and lnspection Activities
)
t--,-rJ
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-Task Order Attachment 3. Cost Estimate.
Contract contingency will be used per Sound Transit discretion and in accordance with signature
authority procedures.
Spreadsheet to be inserted.
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OPERATIONS COMMITTEE
Derek Matheson, Chief Administrative Officer
220 Fourth Ave S
Kent, WA 98032
256-856-5712
DATE: June 4, 2019
TO: Operations Committee
SUBJECT: ICMA - RC Administrative Services Agreement
MOTION: Recommend Council authorize the Mayor to sign the renewal of the
City’s Administrative Services Agreement for the Deferred Compensation Plan
with ICMA - RC for five years, subject to approval of final terms and conditions
by the Human Resources Director and the City Attorney.
SUMMARY:
In April 2018 the City prepared and released a Request for Proposals (RFP) for
the 457 Deferred Compensation Plan Third Party Administrator services. The
City’s Deferred Compensation Plan Consultant, the Hyas Group, assisted with
developing and releasing the RFP, and evaluated the responses. Eight firms
responded to the RFP, including ICMA-RC. ICMA-RC was selected to retain the
City’s business going forward for the following reasons:
The City’s 457 Plan Committee and staff expressed satisfaction with the
services received by the City from ICMA-RC under the current contact
ICMA-RC offered a substantial fee reduction (from .08% of assets down to
.035% of assets per year) to retain the business and to offer some new
enhancements. This was the lowest bid submitted by any proposer in this
RFP process.
ICMA-RC’s proposed contract was the most flexible
ICMA-RC received the highest combined scoring in six performance
categories, in addition to offering the lowest fees
The City’s Consultant, that is a co-fiduciary to the Plan, recommended
engaging ICMA-RC in a new contract
ICMA- RC has been the third-party administrator for the City’s deferred
compensation (457) plan for over 23 years. This plan allows employees to save
for retirement on a tax deferred basis. Plan expenses are paid by the employees
who contribute funds in the program.
ATTACHMENTS:
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1. ICMA-RC ASA (PDF)
7
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ADMINISTRATIVE SERVICES AGREEMENT
Between
ICMA Retirement Corporation
and
City of Kent
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Plan number 301655
2 of 13
ADMINISTRATIVE SERVICES AGREEMENT
This Administrative Services Agreement (“Agreement”), made as of the day
of , 2018 (herein referred to as the “Inception Date”), between the International
City Management Association Retirement Corporation (“ICMA-RC”), a nonprofit
corporation organized and existing under the laws of the State of Delaware, and the City
of Kent (“Employer”), an entity organized and existing under the laws of the State of
Washington with an office at 220 4th Avenue South Kent Washington, 98032.
RECITALS
Employer acts as public plan sponsor of a retirement plan (“Plan”), and in that
capacity, has responsibility to obtain administrative services and investment alternatives
for the Plan;
VantageTrust is a group trust established and maintained in accordance with New
Hampshire Revised Statutes Annotated section 391:1 and Internal Revenue Service
Revenue Ruling 81-100, 1981-1 C.B. 326, which provides for the commingled
investment of retirement funds;
ICMA-RC acts as investment adviser to VantageTrust Company, LLC, the
Trustee of VantageTrust;
ICMA-RC has designed, and VantageTrust offers, a series of separate funds (the
“Funds”) for the investment of plan assets as referenced in VantageTrust’s principal
disclosure documents, the VantageTrust Disclosure Memorandum and the Funds’ Fact
Sheets (together, “VT Disclosures”); and
In addition to serving as investment adviser to VantageTrust Company LLC,
ICMA-RC provides a range of services to public employers for the operation of
employee retirement plans including, but not limited to, communications concerning
investment alternatives, account maintenance, account recordkeeping, investment and tax
reporting, transaction processing, and benefit disbursement.
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Plan number 301655
3 of 13
AGREEMENTS
1. Appointment of ICMA-RC
Employer hereby appoints ICMA-RC as Administrator of the Plan to perform all
nondiscretionary functions necessary for the administration of the Plan. The functions to
be performed by ICMA-RC shall be those set forth in Exhibit A to this Agreement.
2. Adoption of Trust
Employer has adopted the Declaration of Trust of VantageTrust Company and agrees to
the commingled investment of assets of the Plan within VantageTrust. Employer agrees
that the investment, management, and distribution of amounts deposited in VantageTrust
shall be subject to the Declaration of Trust, as it may be amended from time to time and
shall also be subject to terms and conditions set forth in disclosure documents (such as
the VT Disclosures or Employer Bulletins) as those terms and conditions may be adjusted
from time to time.
3. Exclusivity Agreement
Employer agrees that for the initial or succeeding term of this Agreement specified in
Section 11, so long as ICMA-RC continues to perform in all material respects the
services to be performed by it under this Agreement, Employer shall not obtain plan
administration from anyone other than ICMA-RC. Employer acknowledges that ICMA-
RC has agreed to the compensation to be paid to ICMA-RC under this Agreement in the
expectation that ICMA-RC will be able to offset costs allocable to performing this
Agreement with revenues arising from Employer's exclusive use of ICMA-RC at the
rates provided herein throughout the initial or succeeding term.
4. Employer Duty to Furnish Information
Employer agrees to furnish to ICMA-RC on a timely basis such information as is
necessary for ICMA-RC to carry out its responsibilities as Administrator of the Plan,
including information needed to allocate individual participant accounts to Funds in
VantageTrust, and information as to the employment status of participants, and
participant ages, addresses, and other identifying information (including tax identification
numbers). Employer also agrees that it will notify ICMA-RC in a timely manner
regarding changes in staff as it relates to various roles. Such notification is to be
completed through the online EZLink employer contact options. ICMA-RC shall be
entitled to rely upon the accuracy of any information that is furnished to it by a
responsible official of the Employer or any information relating to an individual
participant or beneficiary that is furnished by such participant or beneficiary, and ICMA-
RC shall not be responsible for any error arising from its reliance on such information.
ICMA-RC will provide reports, statements and account information to the Employer
through EZLink, the online plan administrative tool.
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Plan number 301655
4 of 13
Employer is required to send in contribution information through EZLink, the online plan
administration tool provided by ICMA-RC. Alternative electronic methods may be
allowed, but must be approved by ICMA-RC for use. Contributions may not be sent
through paper submittal documents.
To the extent Employer selects third-party funds that do not have fund profile
information provided to ICMA-RC through our electronic data feeds from external
sources (such as Morningstar) or third party fund providers, the Employer is responsible
for providing to ICMA-RC timely fund investment updates for disclosure to Plan
participants. Such updates may be provided to ICMA-RC through the Employer’s
investment consultant or other designated representative.
5. ICMA-RC Representations and Warranties
ICMA-RC represents and warrants to Employer that:
(a) ICMA-RC is a non-profit corporation with full power and authority to
enter into this Agreement and to perform its obligations under this
Agreement. The ability of ICMA-RC, or its wholly owned subsidiary, to
serve as investment adviser to VantageTrust Company is dependent upon
the continued willingness of VantageTrust Company for ICMA-RC, or its
wholly owned subsidiary, to serve in that capacity.
(b) ICMA-RC is an investment adviser registered as such with the U.S.
Securities and Exchange Commission under the Investment Advisers Act
of 1940, as amended.
(c)(i) ICMA-RC shall maintain and administer the 457(b) Plan in accordance
with the requirements for eligible deferred compensation plans under
Section 457 of the Internal Revenue Code and other applicable federal
law; provided, however, that ICMA-RC shall not be responsible for the
eligible status of the 457(b) Plan in the event that the Employer directs
ICMA-RC to administer the 457(b) Plan or disburse assets in a manner
inconsistent with the requirements of Section 457 or otherwise causes the
457(b) Plan not to be carried out in accordance with its terms. Further, in
the event that the Employer uses its own customized plan document,
ICMA-RC shall not be responsible for the eligible status of the 457(b)
Plan to the extent affected by terms in the Employer’s plan document that
differ from those in ICMA-RC’s model plan document. ICMA-RC shall
not be responsible for monitoring state or local law applicable to
retirement plans or for administering the 457(b) Plan in compliance with
local or state requirements regarding plan administration unless Employer
notifies ICMA-RC of any such local or state requirements.
6. Employer Representations and Warranties
Employer represents and warrants to ICMA-RC that:
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Plan number 301655
5 of 13
(a) Employer is organized in the form and manner recited in the opening
paragraph of this Agreement with full power and authority to enter into
and perform its obligations under this Agreement and to act for the Plan
and participants in the manner contemplated in this Agreement. Execution,
delivery, and performance of this Agreement will not conflict with any
law, rule, regulation or contract by which the Employer is bound or to
which it is a party.
(b) Employer understands and agrees that ICMA-RC’s sole function under
this Agreement is to act as recordkeeper and to provide administrative,
investment or other services at the direction of Plan participants, the
Employer, its agents or designees in accordance with the terms of this
Agreement. Under the terms of this Agreement, ICMA-RC does not
render investment advice, is neither the “Plan Administrator” nor “Plan
Sponsor” as those terms are defined under applicable federal, state, or
local law, and does not provide legal, tax or accounting advice with
respect to the creation, adoption or operation of the Plan and its related
trust. ICMA-RC does not perform any service under this Agreement that
might cause ICMA-RC to be treated as a “fiduciary” of the Plan under
applicable law, except, and only, to the extent that ICMA-RC provides
investment advisory services to individual participants enrolled in Guided
Pathways Advisory Services.
(c) Employer acknowledges and agrees that ICMA-RC does not assume any
responsibility with respect to the selection or retention of the Plan’s
investment options. Employer shall have exclusive responsibility for the
Plan’s investment options, including the selection of the applicable mutual
fund share class. Where applicable, Employer understands that the VT
Retirement IncomeAdvantage Fund is an investment option for the Plan
and that the fund invests in a separate account available through a group
variable annuity contract. By entering into this Agreement, Employer
acknowledges that it has received the Important Considerations document
and the VT Disclosures and that it has read the information therein
concerning the VT Retirement IncomeAdvantage Fund.
(d) Employer acknowledges that certain such services to be performed by
ICMA-RC under this Agreement may be performed by an affiliate or
agent of ICMA-RC pursuant to one or more other contractual
arrangements or relationships, and that ICMA-RC reserves the right to
change vendors with which it has contracted to provide services in
connection with this Agreement without prior notice to Employer.
(e) Employer acknowledges that it has received ICMA-RC’s Fee Disclosure
Statement, prepared in substantial conformance with ERISA regulations
regarding the disclosure of fees to plan sponsors.
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(f) Employer approves the use of its Plan in ICMA-RC external media,
publications and materials. Examples include press releases
announcements and inclusion of the general plan information in request
for proposal responses.
7. Participation in Certain Proceedings
The Employer hereby authorizes ICMA-RC to act as agent, to appear on its behalf, and to
join the Employer as a necessary party in all legal proceedings involving the garnishment
of benefits or the transfer of benefits pursuant to the divorce or separation of participants
in the Plan. Unless Employer notifies ICMA-RC otherwise, Employer consents to the
disbursement by ICMA-RC of benefits that have been garnished or transferred to a
former spouse, current spouse, or child pursuant to a domestic relations order or child
support order.
8. Compensation and Payment
(a) Participant Fees. Plan participant accounts shall be assessed an asset-based
fee to cover the costs of record-keeping and other services provided by
ICMA-RC, and other costs associated with the Plans as directed by the
Employer. The Employer shall work with ICMA-RC to determine the
appropriate amount of the gross asset-based fee to be charged to participant
accounts, which may be increased or decreased from time to time at the
direction of the Employer. At the inception of this contract the participant fee
shall be 0.105%.
(b) Revenue Requirement. ICMA-RC shall receive total annual aggregate
revenue of 0.035% of Plan assets under ICMA-RC’s administration for
providing recordkeeping and other services to the Plans. Such revenue shall
be deducted by ICMA-RC from amounts collected through the application of
the asset-based fee described in section 8(a) prior to allocation of any
participant level asset-based fees to the Administrative Allowance Account
described is section 8(c) below.
(c) Administrative Allowance Account. Amounts collected through the
application of the asset-based fee described in section 8(a) above in excess of
the Revenue Requirement specified in subsection 8(b) above, if any, shall be
held in an Administrative Allowance Account (that is maintained as a Plan
asset by ICMA-RC). Employer understands that the Plan administrative
allowance is to be used only to pay for reasonable plan administrative
expenses of the Plan or allocated to Plan participants at the instruction of the
Employer.
(d) Revenue Received From Investment Options. Neither ICMA-RC nor the
Employer shall receive recordkeeping revenue directly from investment
options made available under the Plan. ICMA-RC shall be compensated from
fees collected from participant accounts through the application of the asset -
Comment [GS1]: So, this “gross” fee includes
both the .07% fee recently authorized by the
Committee, plus the .035% fee ICMA-RC will be
charging per the new agreement, described as the
“Revenue Requirement” in the paragraph below.
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based fee described in section 8(a) above. In the event that any Plan
investment options do generate revenue from plan investments, ICMA-RC
shall, as directed by the Employer, credit any and all revenue back to those
participant accounts invested in the option in question.
(e) Compensation for Management Services to VantageTrust,
Compensation for Advisory and other Services to the VT III
Vantagepoint Funds and Payments from Third-Party Mutual Funds.
Employer acknowledges that, in addition to amounts payable under this
Agreement, ICMA-RC receives fees from VantageTrust for investment
advisory services and plan and participant services furnished to
VantageTrust. Employer further acknowledges that ICMA-RC, including
certain of its wholly owned subsidiaries, receives compensation for
advisory and other services furnished to the VT III Vantagepoint Funds,
which serve as the underlying portfolios of a number of Funds offered
through VantageTrust. For a VantageTrust Fund that invests substantially
all of its assets in a third-party mutual fund not affiliated with ICMA-RC,
ICMA-RC or its wholly owned subsidiary receives payments from the
third-party mutual fund families or their service providers in the form of
12b-1 fees, service fees, compensation for sub-accounting and other
services provided based on assets in the underlying third-party mutual
fund. These fees are described in the VT Disclosures and ICMA-RC’s fee
disclosure statement. In addition, to the extent that third party mutual
funds are included in the investment line-up for the Plan, ICMA-RC
receives administrative fees from its third party mutual fund settlement
and clearing agent for providing administrative and other services based
on assets invested in third party mutual funds; such administrative fees
come from payments made by third party mutual funds to the settlement
and clearing agent.
(f) Redemption Fees. Redemption fees imposed by outside mutual funds in
which Plan assets are invested are collected and paid to the mutual fund by
ICMA-RC. ICMA-RC remits 100% of redemption fees back to the
specific mutual fund to which redemption fees apply. These redemption
fees and the individual mutual fund’s policy with respect to redemption
fees are specified in the prospectus for the individual mutual fund and
referenced in the VT Disclosures..
(g) Plus Fund Share Class. ICMA-RC shall provide the R-12 share class
version of the Plus Fund as the stable value investment option in the City
of Kent 457 Plan.
(h) Fees for Investment Advice. ICMA-RC shall waive the standard fee of $20
for participant utilization of the on-line investment advice tool.
(i) Financial Planning Break-Points. The amount of participant assets required
for a participant to receive a written financial plan from ICMA-RC at no cost
shall be as follows:
Formatted: Font: Bold
Formatted: List Paragraph, No bullets or
numbering
Formatted: Font: Bold
Comment [GS2]: There was no mention I could
find in the document of the Plus Fund share class
agreed to in the RFP process, so I inserted it here.
Formatted: Font: 11.5 pt, Bold
Formatted: List Paragraph, No bullets or
numbering
Comment [GS3]: This is a continuation of the
present investment advice fee policy.
Formatted: Font: Bold
Formatted: List Paragraph, No bullets or
numbering
Formatted: Font: Bold
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Plan number 301655
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a. For a full financial plan: $100,000 in combined ICMA-RC assets, to
include Plan assets, IRA’s and spousal assets held with ICMA-RC.
(f)b. For a goal-specific financial plan: $50,000 in combined
ICMA-RC assets, to include Plan assets, IRA’s and spousal assets
held with ICMA-RC
(g)(j) Payment Procedures. All payments to ICMA-RC pursuant to this
Section 8 shall be made from Plan assets held by VantageTrust or received
from third-party mutual funds or their service providers in connection with
Plan assets invested in such third-party mutual funds, to the extent not
paid by the Employer. The amount of Plan assets administered by ICMA-
RC shall be adjusted as required to reflect any such payments as are made
from the Plan. In the event that the Employer agrees to pay amounts owed
pursuant to this Section 8 directly, any amounts unpaid and outstanding
after 30 days of invoice to the Employer shall be withdrawn from Plan
assets.
The compensation and payment set forth in this Section 8 are contingent upon the
Employer’s use of ICMA-RC’s EZLink system for contribution processing and
submitting contribution funds by ACH or wire transfer on a consistent basis over the
term of this Agreement. The compensation and payment set forth in this Section 8 is
also contingent upon the Vantagepoint PLUS Fund as the sole stable value fund.
The compensation and payment in this Section 8 will take effect July 1, 2019 or the
month following receipt at a Delivery Address (defined below the signature line) if
receipt is after July 1, 2019, of one fully executed copy of this Administrative
Services Agreement.
Employer further acknowledges and agrees that compensation and payment under this
Agreement shall be subject to re-negotiation in the event that the Employer (a)
chooses to implement additional mutual funds that neither (i) trade via NSCC nor (ii)
meet ICMA-RC’s daily trading operational guidelines or (b) chooses to implement
investment options that are not mutual funds.
8. Contribution Remittance
Employer understands that amounts invested through VantageTrust are to be remitted
directly to VantageTrust in accordance with instructions provided to Employer by ICMA-
RC and are not to be remitted to ICMA-RC. In the event that any check or wire transfer is
incorrectly labeled or transferred to ICMA-RC, ICMA-RC may return it to Employer
with proper instructions.
9. Indemnification
ICMA-RC shall not be responsible for any acts or omissions of any person with respect
to the Plan or its related trust, other than ICMA-RC in connection with the administration
Formatted: List Paragraph, No bullets or
numbering
Formatted: Font: Not Bold
Formatted
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Comment [GS4]: This is also a continuation of
current financial planning fee policy.
Formatted: Font: Not Bold
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Plan number 301655
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or operation of the Plan. To the extent allowed by law, Employer shall indemnify ICMA-
RC against, and hold ICMA-RC harmless from, any and all loss, damage, penalty,
liability, cost, and expense, including without limitation, reasonable attorney’s fees, that
may be incurred by, imposed upon, or asserted against ICMA-RC by reason of any claim,
regulatory proceeding, or litigation arising from any act done or omitted to be done by
any individual or person with respect to the Plan or its related trust, excepting only any
and all loss, damage, penalty, liability, cost or expense resulting from ICMA-RC’s
negligence, bad faith, or willful misconduct.
10. Term
This Agreement shall be in effect and commence on the date all parties have signed and
executed this Agreement (“Inception Date”). The term of this Agreement will commence
on the Inception Date and extend five (5) years from that date. The Employer understands
and agrees that, in the event the Employer terminates this Agreement (or replaces the
Vantagepoint PLUS Fund of VantageTrust as an investment option in its investment line-
up), ICMA-RC retains full discretion to release Plan assets invested in the Vantagepoint
PLUS Fund in an orderly manner over a period of up to 12 months from the date ICMA-
RC receives written notification from the Employer that it is initiating withdrawal of all
or part of the Plans’ assets from the VT Vantagepoint PLUS Fund.
11. Amendments and Adjustments
(a) This Agreement may be amended by written instrument signed by the parties.
(b) ICMA-RC may modify this agreement by providing 60 days’ advance written
notice to the Employer prior to the effective date of such proposed modification.
Such modification shall become effective unless, within the 60-day notice period,
the Employer notifies ICMA-RC in writing that it objects to such modification.
(c) The parties agree that enhancements may be made to administrative services
under this Agreement. The Employer will be notified of enhancements through
the Employer Bulletin, quarterly statements, electronic messages or special
mailings. Likewise, if there are any reductions in fees, these will be announced
through the Employer Bulletin, quarterly statement, electronic messages or
special mailing.
12. Notices
All notices required to be delivered under this Agreement shall be in writing and shall be
delivered, mailed, e-mailed or faxed to the location of the relevant party set forth below
or to such other address or to the attention of such other persons as such party may
hereafter specify by notice to the other party.
ICMA-RC: Legal Department, ICMA Retirement Corporation, 777
North Capitol Street, N.E., Suite 600, Washington, D.C., 20002-4240
Facsimile; (202) 962-4601
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Plan number 301655
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Employer: at the office set forth in the first paragraph hereof, or to any
other address, facsimile number or e-mail address designated by the
Employer to receive the same by written notice similarly given.
Each such notice, request or other communication shall be effective: (i) if given by
facsimile, when transmitted to the applicable facsimile number and there is appropriate
confirmation of receipt; (ii) if given by mail or e-mail, upon transmission to the
designated address with no indication that such address is invalid or incorrect; or (iii) if
given by any other means, when actually delivered at the aforesaid address.
13. Complete Agreement
This Agreement shall constitute the complete and full understanding and sole agreement
between ICMA-RC and Employer relating to the object of this Agreement and correctly
sets forth the complete rights, duties and obligations of each party to the other as of its
date. This Agreement supersedes all written and oral agreements, communications or
negotiations among the parties. Any prior agreements, promises, negotiations or
representations, verbal or otherwise, not expressly set forth in this Agreement are of no
force and effect.
14. Titles
The headings of Sections of this Agreement and the headings for each of the attached
schedules are for convenience only and do not define or limit the contents thereof.
15. Incorporation of Exhibits
All Exhibits (and any subsequent amendments thereto), attached hereto, and referenced
herein, are hereby incorporated within this Agreement as if set forth fully herein.
16. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the
State of Washington, applicable to contracts made in that jurisdiction without reference to
its conflicts of laws provisions.
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Plan number 301655
11 of 13
In Witness Whereof, the parties hereto certify that they have read and understand this
Agreement and all Schedules attached hereto and have caused this Agreement to be
executed by their duly authorized officers as of the Inception Date first above written.
CITY OF KENT
By _____________________________
Signature/Date
By _____________________________
Name and Title (Please Print)
INTERNATIONAL CITY MANAGEMENT
ASSOCIATION RETIREMENT CORPORATION
By _____________________________
Erica McFarquhar
Assistant Secretary
Please return an executed copy of the Agreement to a Delivery Address, either:
(a) Electronically to PlanAdoptionServices@icmarc.org, or
(b) In paper form to ICMA-RC
ATTN: PLAN ADOPTION SERVICES
777 North Capitol Street NE
Suite 600
Washington DC 20002-4240
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Plan number 301655
12 of 13
Exhibit A
Administrative Services
The administrative services to be performed by ICMA-RC under this Agreement shall be
as follows:
(a) Participant enrollment services, including providing a welcome package and
enrollment kit containing instructions and notices necessary to implement the
Plan’s administration. Employees will enroll online or through a paper
form. Employer can also enroll employees through EZLink.
(b) Establishment of participant accounts for each employee participating in the Plan for
whom ICMA-RC receives appropriate enrollment instructions. ICMA-RC is not
responsible for determining if such Plan participants are eligible under the terms of
the Plan.
(c) Allocation in accordance with participant directions received in good order of
individual participant accounts to investment funds offered under the Plan.
(d) Maintenance of individual accounts for participants reflecting amounts deferred,
income, gain or loss credited, and amounts distributed as benefits.
(e) Maintenance of records for all participants for whom participant accounts have been
established. These files shall include enrollment instructions (provided to ICMA-
RC through Account Access or EZLink), beneficiary designation instructions and all
other documents concerning each participant's account.
(f) Provision of periodic reports to the Employer through EZLink. Participants will
have access to account information through Investor Services, Voice Response
System, Account Access, TextAccess and through quarterly statements that can
be delivered electronically through Account Access or by postal service.
(g) Communication to participants of information regarding their rights and elections
under the Plan.
(h) Making available Investor Services Representatives through a toll-free telephone
number from 8:30 a.m. to 9:00 p.m. Eastern Time, Monday through Friday
(excluding holidays and days on which the securities markets or ICMA-RC are
closed for business (including emergency closings)), to assist participants.
(i) Making available access to ICMA-RC’s web site, to allow participants to access
certain account information and initiate certain plan transactions at any time.
Account access is normally available 24 hours a day, seven days a week except
during scheduled maintenance periods designed to ensure high-
quality performance. The scheduled maintenance window is outlined
at https://harper1.icmarc.org/login.jsp.
(j) Maintaining the security and confidentiality of client information through a
system of controls including but not limited to, as appropriate: restricting plan and
participant information only to those who need it to provide services, software
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Plan number 301655
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and hardware security, access controls, data back-up and storage procedures, non-
disclosure agreements, security incident response procedures, and audit reviews.
(k) Making available access to ICMA-RC’s plan sponsor EZLink web site to allow
plan sponsors to access certain plan information and initiate plan transactions
such as enrolling participants and managing contributions at any time. EZLink is
normally available 24 hours a day, seven days a week except during scheduled
maintenance periods designed to ensure high-quality performance. The scheduled
maintenance window is outlined at https://harper1.icmarc.org/login.jsp.
(l) Distribution of benefits as agent for the Employer in accordance with terms of the
Plan. Participants who have separated from service can request distributions
through Account Access or via form.
(m) Upon approval by the Employer that a domestic relations order is an acceptable
qualified domestic relations order under the terms of the Plan, ICMA-RC will
establish a separate account record for the alternate payee and provide for the
investment and distribution of assets held thereunder.
(n) Loans may be made available on the terms specified in the Loan Guidelines, if loans
are adopted by the Employer. Participants can request loans through Account
Access. If allowed by the City, loans will be available to both active and separated
participants.
(o) Guided Pathways Advisory Services – ICMA-RC’s participant advice service,
“Fund Advice”, and asset allocation service, “Asset Class Guidance” may be
made available through a third party vendor on the terms specified on ICMA-
RC’s website. If allowed by the City, the Guided Pathway Managed Account
Service may be made available to separated/retired employees only.
(p) ICMA-RC will determine appropriate delivery method (electronic and/or print)
for plan sponsor/participant communications and education based on a number of
factors (audience, effectiveness, etc.).
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OPERATIONS COMMITTEE
Derek Matheson, Chief Administrative Officer
220 Fourth Ave S
Kent, WA 98032
256-856-5712
DATE: June 4, 2019
TO: Operations Committee
SUBJECT: April Financial Report
SUMMARY: The Finance Director will report out the April 2019 financial report.
SUPPORTS STRATEGIC PLAN GOAL:
Sustainable Services
ATTACHMENTS:
1. April 2019 Monthly Report (PDF)
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2019
Adj Budget
2019
YTD
2019
Est Actual
Variance
Favorable
(Unfavorable)
%Variance
Favorable
(Unfavorable)
Revenues 107,690,250 40,116,607 109,993,320 2,303,070 2.1%
Expenditures 108,683,707 29,289,447 108,198,810 484,897 0.4%
Net Revenues Less Expenditures (993,457) 10,827,161 1,794,510 2,787,967
Beginning Fund Balance 23,341,440 23,341,440
Ending Fund Balance 22,347,983 25,135,950
Ending Fund Balance Detail:
General Fund Reserves 22,024,193 23,931,880
20.3%22.1%
Restricted for Annexation 323,790 1,204,070
Revenue Overview
Expenditures Overview
Required Ending Fund Balance Calculation
Estimated Expenditures for 2019 (from above)108,198,810
18.0%
18% GF Ending Fund Balance 19,475,786
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund Overview
Summary
Analysis through April shows an overall positive budget variance of $2.8 million.
The budgeted use of fund balance is offset by the positive budget variance of $2.8 million, creating a net surplus of
$1.8m.
General Fund Reserves are estimated to end the year at $23.9 million, or 22.1% of estimated 2019 expenditures.
Revenues are estimated to end the year approximately $2.3 million (2.1%) higher than budgeted.
Through April, all departments are remaining fairly close to budget with an overall budget variance of $485 thousand or
0.4%.
2.06 0.83 0.64
4.13
7.65 9.46
11.91
18.92 20.65 21.67
23.93
0.00
5.00
10.00
15.00
20.00
25.00
30.00
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Est. 2019
General Fund Ending Fund Balance 10-year History (excluding Annexation)$ in
millions
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Revenue Categories 2019
Adj Budget
2019
YTD
2019
Est Actual
Variance
Favorable
(Unfavorable)
%Variance
Favorable
(Unfavorable)
Taxes:
Property 29,978,040 13,395,409 29,648,250 (329,790) -1.1%
Sales & Use 21,770,980 8,391,605 23,801,030 2,030,050 9.3%
Utility 19,596,150 6,857,086 19,228,000 (368,150) -1.9%
Business & Occupation 11,500,000 2,318,444 11,513,220 13,220 0.1%
Other 882,650 212,261 860,130 (22,520) -2.6%
Licenses and Permits 7,082,370 2,862,809 7,444,420 362,050 5.1%
Intergovernmental Revenue 6,713,830 2,080,407 6,915,010 201,180 3.0%
Charges for Services 6,001,180 2,913,525 6,389,300 388,120 6.5%
Fines and Forfeitures 1,113,790 389,137 1,163,600 49,810 4.5%
Miscellaneous Revenue 2,135,530 695,923 2,080,360 (55,170) -2.6%
Transfers In 915,730 - 950,000 34,270 3.7%
Total Revenues 107,690,250 40,116,607 109,993,320 2,303,070 2.1%
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund Overview - Revenues
Variance analysis for revenues is provided for particular line items or those in which the estimated actual amount
differs from the budgeted amount by at least 10% or minimum of $500,000.
Variance Notes
Sales & Use Tax: $2.0m increase due to higher than anticipated sales tax revenues, including $545k in annexation
sales tax revenue, due to a strong construction economy.
2019 Estimated
General Fund
Revenues
Property Taxes
27%
Sales Taxes
22%
Utility Taxes
17%
B&O Taxes
10%
Other Taxes
1%
Licenses and
Permits
7%
Intergovernmental
7%
Charges for
Services
6%
Fines and Forfeits
Misc & Transfers In
3%
Other
16%
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Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 5,721 6,214 6,540
February 5,542 5,546 5,521
March 7,432 8,268 7,624
April 18,343 17,451 20,431
May 8,891 7,922 0
June 6,778 6,751 0
July 8,084 7,508 0
August 5,496 5,734 0
September 6,935 7,276 0
October 19,388 18,068 0
November 8,117 7,122 0
December 10,353 9,831 0
Total 111,081 107,690 40,117
Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 0 10 32
February 213 225 230
March 736 953 866
April 12,768 12,204 12,268
May 1,860 2,172 0
June 121 158 0
July 269 111 0
August 104 110 0
September 327 591 0
October 11,934 11,603 0
November 1,432 1,589 0
December 207 251 0
Total 29,971 29,978 13,395
Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 1,761 1,626 2,060
February 2,045 2,037 2,485
March 1,810 1,611 2,058
April 1,604 1,564 1,788
May 2,074 1,834 0
June 2,019 1,618 0
July 2,000 1,752 0
August 2,152 1,966 0
September 2,066 1,808 0
October 2,056 1,811 0
November 2,261 1,983 0
December 2,851 2,162 0
Total 24,699 21,771 8,392
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund Revenues ($ in Thousands)
All Revenues Sources
Property Tax
Sales Tax
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
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April 2019 Monthly Financial Report
City of Kent, Washington
General Fund Revenues ($ in Thousands)
Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 1,860 2,082 1,887
February 1,771 1,748 1,583
March 1,719 1,669 1,680
April 1,737 1,840 1,707
May 1,602 1,542 0
June 1,447 1,419 0
July 1,647 1,739 0
August 1,482 1,482 0
September 1,560 1,681 0
October 1,427 1,479 0
November 1,537 1,494 0
December 1,499 1,422 0
Total 19,289 19,596 6,857
Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 1 6 2
February 3 14 2
March 33 261 48
April 322 1,785 2,479
May 1,688 844 0
June 223 175 0
July 2,011 2,286 0
August 340 446 0
September 145 129 0
October 2,100 2,530 0
November 252 417 0
December 3,378 3,491 0
Total 10,496 12,383 2,531
Prior Year
Revenues
Budgeted
Revenues
Actual
Revenues
January 2,099 1,892 2,560
February 1,510 933 1,221
March 3,135 2,770 2,972
April 1,912 1,687 2,189
May 1,667 1,547 0
June 2,968 2,853 0
July 2,157 1,734 0
August 1,419 1,423 0
September 2,836 2,722 0
October 1,870 1,971 0
November 2,634 1,483 0
December 2,417 2,948 0
Total 26,625 23,962 8,942
Utility Tax
Other Taxes
Other Revenues
(Intergovernmental, Licenses & Permits, Charges for Service, Fines & Forfeits, and Misc Revenues)
$0
$5,000
$10,000
$15,000
$20,000
$25,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
$0
$2,000
$4,000
$6,000
$8,000
$10,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Bud 18 Act 19 Act
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Department 2019
Adj Budget
2019
YTD
2019
Est Actual
Variance
Favorable
(Unfavorable)
%Variance
Favorable
(Unfavorable)
City Council 439,470 134,101 418,900 20,570 4.7%
Mayor's Office/City Clerk 3,200,990 1,018,569 3,173,400 27,590 0.9%
Economic & Community Dev 7,361,170 2,251,295 7,227,800 133,370 1.8%
Finance 3,343,890 1,134,856 3,324,900 18,990 0.6%
Fire Contracted Services 3,905,690 1,003,320 3,773,100 132,590 3.4%
Human Resources 2,204,610 722,670 2,081,800 122,810 5.6%
Information Technology 528,260 168,725 518,800 9,460 1.8%
Law 1,829,200 586,239 1,812,000 17,200 0.9%
Municipal Court 3,517,560 1,162,953 3,526,200 (8,640) -0.2%
Parks, Recreation & Comm Svcs 19,138,697 5,832,832 19,122,100 16,597 0.1%
Police 42,731,380 13,930,996 42,724,500 6,880 0.0%
Public Works 1,142,280 395,139 1,154,800 (12,520) -1.1%
Non-Departmental 19,340,510 947,751 19,340,510
Total Expenditures 108,683,707 29,289,447 108,198,810 484,897 0.4%
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund Overview - Expenditures
Variance analysis for expenditures is provided for particular departments or those in which the estimated actual
amount differs from the budgeted amount by at least 10% or a minimum of $500,000.
Variance Notes
None.
City Council
Mayor's Office/City
Clerk
3%
ECD
7%Finance
3%Fire Contracted
Services
4%
Human Resources
2%
I.T.
Law
2%
Municipal Court
3%
Parks, Recreation &
Comm Svcs
18%
Police
39%
Public Works
1%
Non-Departmental
18%
Other
5%
2019 Estimated General Fund Expenditures
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2017 2018 2019 2019 2019
Actual Actual Adj Budget YTD Est Actual
Beginning Fund Balance 19,987,828 21,595,175 23,341,440 23,341,440 23,341,440
Revenues
Taxes:
Property 22,999,864 29,971,155 29,978,040 13,395,409 29,648,250
Sales & Use 21,109,277 24,699,301 21,770,980 8,391,605 23,801,030
Utility 19,648,349 19,289,162 19,596,150 6,857,086 19,228,000
Business & Occupation 9,141,800 9,422,048 11,500,000 2,318,444 11,513,220
Other 900,663 1,074,356 882,650 212,261 860,130
Licenses and Permits 6,962,130 7,557,658 7,082,370 2,862,809 7,444,420
Intergovernmental Revenue 8,102,414 7,919,860 6,713,830 2,080,407 6,915,010
Charges for Services 7,328,567 6,602,681 6,001,180 2,913,525 6,389,300
Fines and Forfeitures 1,549,964 1,360,976 1,113,790 389,137 1,163,600
Miscellaneous Revenue 2,241,585 2,233,777 2,135,530 695,923 2,080,360
Transfers In 934,128 950,000 915,730 - 950,000
Total Revenues 100,918,740 111,080,973 107,690,250 40,116,607 109,993,320
Expenditures
City Council 349,577 344,160 439,470 134,101 418,900
Mayor's Office/City Clerk 2,745,792 2,759,974 3,200,990 1,018,569 3,173,400
Economic & Community Dev 5,841,098 6,675,576 7,361,170 2,251,295 7,227,800
Finance 2,522,554 3,061,472 3,343,890 1,134,856 3,324,900
Fire Contracted Services 3,668,180 3,619,385 3,905,690 1,003,320 3,773,100
Human Resources 1,835,276 2,075,553 2,204,610 722,670 2,081,800
Information Technology 521,151 506,265 528,260 168,725 518,800
Law 1,600,451 1,673,438 1,829,200 586,239 1,812,000
Municipal Court 3,128,652 3,442,107 3,517,560 1,162,953 3,526,200
Parks, Recreation & Comm Svcs 16,655,356 17,992,171 19,138,697 5,832,832 19,122,100
Police 37,167,622 39,315,958 42,731,380 13,930,996 42,724,500
Public Works 1,111,563 1,155,562 1,142,280 395,139 1,154,800
Non-Departmental 22,164,122 26,706,702 19,340,510 947,751 19,340,510
Total Expenditures 99,311,394 109,328,323 108,683,707 29,289,447 108,198,810
Net Revenues less Expenditures 1,607,347 1,752,650 (993,457) 10,827,161 1,794,510
Ending Fund Balance 21,595,175 23,347,825 22,347,983 34,168,600 25,135,950
Ending Fund Balance Detail:
General Fund Reserves 20,654,415 21,666,605 22,024,193 23,931,880
based on same year actuals/budget 20.8% 19.8% 20.3% 22.1%
Restricted for Annexation 940,760 1,681,220 323,790 1,204,070
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund
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2017 2018 2019 % of
thru April thru April thru April Budget
Revenues
Taxes:
Property 10,675,686 13,716,455 13,395,409 (321,045) -2.3%44.7%
Sales & Use 6,768,552 7,219,404 8,391,605 1,172,201 16.2%38.5%
Utility 7,282,264 7,087,202 6,857,086 (230,116) -3.2%35.0%
Business & Occupation 2,236,288 65,012 2,318,444 2,253,432 3466.2%20.2%
Other 207,578 293,960 212,261 (81,700) -27.8%24.0%
Licenses and Permits 2,233,268 2,615,260 2,862,809 247,550 9.5%40.4%
Intergovernmental Revenue 2,132,055 2,233,839 2,080,407 (153,432) -6.9%31.0%
Charges for Services 2,345,724 2,779,943 2,913,525 133,582 4.8%48.5%
Fines and Forfeitures 690,076 375,033 389,137 14,104 3.8%34.9%
Miscellaneous Revenue 625,388 651,558 695,923 44,365 6.8%32.6%
Transfers In - - - -
Total Revenues 35,196,880 37,037,665 40,116,607 3,078,942 8.3%37.3%
Expenditures
City Council 128,271 129,263 134,101 4,838 3.7%30.5%
Mayor's Office/City Clerk 813,311 888,550 1,018,569 130,020 14.6%31.8%
Economic & Community Dev 1,862,136 2,245,982 2,251,295 5,313 0.2%30.6%
Finance 751,673 955,440 1,134,856 179,416 18.8%33.9%
Fire Contracted Services 982,360 1,099,529 1,003,320 (96,210) -8.8%25.7%
Human Resources 566,309 704,803 722,670 17,867 2.5%32.8%
Information Technology 194,345 170,049 168,725 (1,324) -0.8%31.9%
Law 506,446 582,513 586,239 3,726 0.6%32.0%
Municipal Court 1,022,127 1,087,703 1,162,953 75,250 6.9%33.1%
Parks, Recreation & Comm Svcs 4,977,149 5,327,248 5,832,832 505,585 9.5%30.5%
Police 11,967,125 12,640,510 13,930,996 1,290,486 10.2%32.6%
Public Works 394,544 380,665 395,139 14,473 3.8%34.6%
Non-Departmental 233,430 1,114,909 947,751 (167,157) -15.0%4.9%
Total Expenditures 24,399,226 27,327,163 29,289,447 1,962,284 7.2%26.9%
*General Govt. includes City Council, Mayor/Clerk, HR, IT, & Finance
Variance
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund
Year-to-Year Month Comparison
2019-18
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
Property
Taxes
Sales &
Use Taxes
Utility
Taxes
Other
Revenues
GF Revenues thru April
2017
2018
2019
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
Police Parks *General
Govt.
ECD Non-Dept &
Other
GF Expenditures thru April
2017
2018
2019
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2019 2019 2019 2019
Beginning Fund
Balance
Estimated
Revenues
Estimated
Expenditures
Ending Fund
Balance
Operating revenues and expenditures only; capital and non-capital projects are excluded.
General Fund 23,341,440 109,993,320 108,198,810 25,135,950
Street Fund 5,416,967 17,885,720 19,632,150 3,670,537
LEOFF 1 Retiree Benefits 1,872,112 1,179,590 1,423,000 1,628,702
Lodging Tax 336,765 294,830 510,790 120,805
Youth/Teen Programs 91,846 957,730 957,730 91,846
Capital Resources 15,599,192 16,241,910 20,601,850 11,239,252
Criminal Justice 7,247,796 6,320,530 6,003,100 7,565,226
ShoWare Operating 2,563,460 1,150,000 1,423,790 2,289,670
Other Operating 587,401 112,670 112,670 587,401
Councilmanic Debt Service 1,451,046 10,266,810 9,803,310 1,914,546
Special Assessments Debt Service 479,916 1,305,380 1,119,460 665,836
Water Utility 20,822,197 29,589,060 36,223,500 14,187,757
Sewer Utility 6,829,754 31,820,310 31,668,150 6,981,914
Drainage Utility 17,562,223 23,348,620 29,678,070 11,232,773
Solid Waste Utility 466,749 892,980 874,520 485,209
Golf Complex (3,816,932) 2,819,210 2,970,790 (3,968,512)
Fleet Services 5,869,149 6,707,070 7,593,460 4,982,759
Central Services 15,044 396,000 387,290 23,754
Information Technology 3,348,099 8,919,250 9,079,150 3,188,199
Facilities 2,316,961 5,754,880 5,838,450 2,233,391
Unemployment 1,401,222 121,700 313,610 1,209,312
Workers Compensation 3,478,730 1,094,000 1,456,980 3,115,750
Employee Health & Wellness 3,886,427 15,052,030 14,898,160 4,040,297
Liability Insurance 878,314 1,810,690 2,017,600 671,404
Property Insurance 607,537 1,365,920 1,332,100 641,357
Enterprise Funds
Internal Service Funds
Fund Balances
April 2019 Monthly Financial Report
City of Kent, Washington
General Fund
Special Revenue Funds
Debt Service Funds
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2017 2018 2019 2019 2019
Actual Actual Budget YTD Est Actual
Operating revenues and expenditures only; capital and non-capital projects are excluded.
In instances where expenditures exceed revenues, fund balance is being utilized.
Street Fund
Revenues 14,407,771 15,241,855 17,345,420 4,610,826 17,885,720
Expenditures 12,511,397 15,698,374 19,632,152 4,975,389 19,632,150
Net Revenues Less Expenditures 1,896,373 (456,519)(2,286,732)(364,563)(1,746,430)
LEOFF 1 Retiree Benefits
Revenues 1,285,285 1,948,504 1,179,590 82,605 1,179,590
Expenditures 1,163,174 1,372,764 1,423,000 470,664 1,423,000
Net Revenues Less Expenditures 122,111 575,740 (243,410)(388,060)(243,410)
Lodging Tax
Revenues 316,975 320,774 294,830 74,449 294,830
Expenditures 328,804 441,566 510,790 52,346 510,790
Net Revenues Less Expenditures (11,830)(120,791)(215,960)22,103 (215,960)
Youth/Teen Programs
Revenues 955,757 928,958 957,730 335,616 957,730
Expenditures 942,000 942,000 957,730 957,730
Net Revenues Less Expenditures 13,757 (13,042)335,616
Capital Resources
Revenues 19,948,247 22,962,097 16,169,310 4,466,859 16,241,910
Expenditures 15,579,639 23,009,239 20,601,850 1,940,784 20,601,850
Net Revenues Less Expenditures 4,368,607 (47,142)(4,432,540)2,526,075 (4,359,940)
Criminal Justice
Revenues 6,032,589 5,141,297 6,300,130 1,778,475 6,320,530
Expenditures 4,533,302 5,090,504 6,003,100 2,230,976 6,003,100
Net Revenues Less Expenditures 1,499,287 50,792 297,030 (452,501)317,430
ShoWare Operating
Revenues 1,355,226 1,502,759 1,150,000 123,819 1,150,000
Expenditures 1,067,836 1,373,763 1,423,790 156,025 1,423,790
Net Revenues Less Expenditures 287,390 128,996 (273,790)(32,205)(273,790)
Other Operating
Revenues 129,338 133,288 112,670 112,670
Expenditures 40,094 72,045 112,670 22,165 112,670
Net Revenues Less Expenditures 89,244 61,243 (22,165)
Councilmanic Debt Service
Revenues 10,781,229 10,535,010 10,266,810 10,266,810
Expenditures 10,316,403 10,070,185 9,803,310 15,923 9,803,310
Net Revenues Less Expenditures 464,826 464,826 463,500 (15,923)463,500
Special Assessment Debt Service
Revenues 1,979,573 1,458,264 1,305,380 69,312 1,305,380
Expenditures 2,585,818 1,561,009 1,119,460 180,072 1,119,460
Net Revenues Less Expenditures (606,245)(102,745)185,920 (110,760)185,920
Debt Service Funds
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Special Revenue Funds
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Actual Actual Budget YTD Est Actual
Operating revenues and expenditures only; capital and non-capital projects are excluded.
In instances where expenditures exceed revenues, fund balance is being utilized.
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Water Utility
Revenues 28,209,235 29,438,960 29,589,060 8,681,989 29,589,060
Expenditures 26,577,932 28,004,249 36,223,500 4,868,620 36,223,500
Net Revenues Less Expenditures 1,631,303 1,434,710 (6,634,440)3,813,369 (6,634,440)
Sewer Utility
Revenues 31,820,310 10,600,038 31,820,310
Expenditures 31,668,150 9,548,603 31,668,150
Net Revenues Less Expenditures 152,160 1,051,435 152,160
Note: Sewer Utility was combined with Drainage Utility in 2017 & 2018.
Drainage Utility
Revenues 54,240,288 57,343,023 23,343,620 8,520,589 23,348,620
Expenditures 49,060,469 56,879,160 29,678,070 4,319,985 29,678,070
Net Revenues Less Expenditures 5,179,819 463,863 (6,334,450)4,200,604 (6,329,450)
Solid Waste Utility
Revenues 754,868 799,794 892,980 230,075 892,980
Expenditures 577,964 812,476 874,520 224,435 874,520
Net Revenues Less Expenditures 176,904 (12,682)18,460 5,640 18,460
Golf Complex
Revenues 3,027,079 9,229,538 2,819,210 553,108 2,819,210
Expenditures 3,081,308 6,467,553 2,970,790 845,950 2,970,790
Net Revenues Less Expenditures (54,229)2,761,985 (151,580)(292,842)(151,580)
Fleet Services
Revenues 5,480,210 5,686,534 6,707,070 3,507,122 6,707,070
Expenditures 4,164,630 7,286,339 7,593,460 2,755,391 7,593,460
Net Revenues Less Expenditures 1,315,580 (1,599,805)(886,390)751,731 (886,390)
Central Services
Revenues 350,602 375,410 447,090 107,819 396,000
Expenditures 290,147 357,253 387,290 81,662 387,290
Net Revenues Less Expenditures 60,455 18,157 59,800 26,157 8,710
Information Technology
Revenues 8,173,478 8,416,261 9,138,700 3,520,415 8,919,250
Expenditures 8,175,302 8,676,906 9,079,150 2,665,877 9,079,150
Net Revenues Less Expenditures (1,824)(260,645)59,550 854,539 (159,900)
Facilities
Revenues 4,737,520 4,941,020 5,754,880 1,763,675 5,754,880
Expenditures 4,761,950 4,933,077 5,838,450 1,366,178 5,838,450
Net Revenues Less Expenditures (24,429)7,943 (83,570)397,497 (83,570)
Unemployment
Revenues 167,215 158,565 121,700 54,231 121,700
Expenditures 75,154 181,851 313,610 81,978 313,610
Net Revenues Less Expenditures 92,061 (23,286)(191,910)(27,747)(191,910)
Enterprise Funds
Internal Service Funds
Note: Golf revenues include proceeds from the sale of land of $500k in 2017 and $6m in 2018. 2018 Exp include
$3.3m transfer to Capital Projects
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2017 2018 2019 2019 2019
Actual Actual Budget YTD Est Actual
Operating revenues and expenditures only; capital and non-capital projects are excluded.
In instances where expenditures exceed revenues, fund balance is being utilized.
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Workers Compensation
Revenues 1,082,091 1,829,452 1,094,000 407,015 1,094,000
Expenditures 1,013,278 725,048 1,456,980 407,042 1,456,980
Net Revenues Less Expenditures 68,813 1,104,404 (362,980)(27)(362,980)
Employee Health & Wellness
Revenues 11,707,967 13,857,791 15,052,030 4,943,039 15,052,030
Expenditures 13,428,552 12,931,931 14,898,160 4,182,861 14,898,160
Net Revenues Less Expenditures (1,720,584)925,860 153,870 760,179 153,870
Liability Insurance
Revenues 2,087,755 1,950,908 1,810,690 786,261 1,810,690
Expenditures 2,180,680 2,733,726 2,017,600 935,265 2,017,600
Net Revenues Less Expenditures (92,925)(782,818)(206,910)(149,004)(206,910)
Property Insurance
Revenues 556,770 587,906 1,365,920 934,075 1,365,920
Expenditures 436,283 632,404 1,332,100 404,472 1,332,100
Net Revenues Less Expenditures 120,487 (44,498)33,820 529,603 33,820
0
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
120,000,000
2017
Actuals
2018
Actuals
2019
Budget
2019
Est.
Actuals
Other Fund Revenues
Special
Revenue
Funds
Enterprise
Funds
Internal
Service
Funds
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
General Fund Special Revenue
Funds
Enterprise Funds Internal Service
Funds
2019 Estimated Fund Balances
Beginning
Balance
Estimated
Ending Balance
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
90,000,000
100,000,000
2017
Actuals
2018
Actuals
2019
Budget
2019
Est.
Actuals
Other Fund Expenditures
Special
Revenue
Funds
Enterprise
Funds
Internal
Service Funds
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2017 2018 2019
thru April thru April thru April
Operating revenues and expenditures only; capital and non-capital projects are excluded.
Street Fund
Revenues 3,584,238 3,833,974 4,610,826 776,852 20.3%
Expenditures 2,570,546 4,597,117 4,975,389 378,272 8.2%
Net Revenues Less Expenditures 1,013,692 (763,143)(364,563)
LEOFF 1 Retiree Benefits
Revenues 338,549 231,614 82,605 (149,009)-64.3%
Expenditures 375,671 448,034 470,664 22,631 5.1%
Net Revenues Less Expenditures (37,122)(216,420)(388,060)
Lodging Tax
Revenues 70,953 71,369 74,449 3,080 4.3%
Expenditures 52,679 128,203 52,346 (75,857)-59.2%
Net Revenues Less Expenditures 18,275 (56,834)22,103
Youth/Teen Programs
Revenues 364,656 353,220 335,616 (17,604)-5.0%
Expenditures
Net Revenues Less Expenditures 364,656 353,220 335,616
Capital Resources
Revenues 3,927,253 5,493,519 4,466,859 (1,026,660)-18.7%
Expenditures 0 1,754,508 1,940,784 186,276
Net Revenues Less Expenditures 3,927,253 3,739,011 2,526,075
Criminal Justice
Revenues 1,613,449 1,559,804 1,778,475 218,671 14.0%
Expenditures 1,248,504 1,433,478 2,230,976 797,498 55.6%
Net Revenues Less Expenditures 364,945 126,326 (452,501)
ShoWare Operating
Revenues 108,389 244,714 123,819 (120,895)-49.4%
Expenditures 156,620 165,880 156,025 (9,856)-5.9%
Net Revenues Less Expenditures (48,231)78,834 (32,205)
Admissions Tax revenues received quarterly (April, July, September, January)
Other Operating
Revenues 5,000 (5,000)-100.0%
Expenditures 2,342 16,042 22,165 6,123 38.2%
Net Revenues Less Expenditures (2,342)(11,042)(22,165)
Combines several small programs, including City Art Program and Neighborhood Matching Grants
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Year-to-Year Month Comparison
2019-18
Special Revenue Funds
Variance
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thru April thru April thru April
Operating revenues and expenditures only; capital and non-capital projects are excluded.
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Year-to-Year Month Comparison
2019-18
Variance
Councilmanic Debt Service
Revenues
Expenditures 15,923 15,923
Net Revenues Less Expenditures (15,923)
Debt service payments are generally due in June and December.
Special Assessments Debt Service
Revenues 154,414 78,096 69,312 (8,784)-11.2%
Expenditures 543 736,788 180,072 (556,716)-75.6%
Net Revenues Less Expenditures 153,871 (658,693)(110,760)
Water Utility
Revenues 7,329,782 7,767,276 8,681,989 914,713 11.8%
Expenditures 4,382,249 4,583,859 4,868,620 284,761 6.2%
Net Revenues Less Expenditures 2,947,534 3,183,417 3,813,369
Sewer Utility
Revenues 10,600,038 10,600,038
Expenditures 9,548,603 9,548,603
Net Revenues Less Expenditures 1,051,435
Note: Sewer Utility was combined with Drainage Utility in 2017 & 2018.
Drainage Utility
Revenues 16,979,587 19,030,514 8,520,589 (10,509,926)-55.2%
Expenditures 13,122,656 13,654,255 4,319,985 (9,334,270)-68.4%
Net Revenues Less Expenditures 3,856,931 5,376,259 4,200,604
Solid Waste Utility
Revenues 200,232 215,769 230,075 14,306 6.6%
Expenditures 136,734 278,500 224,435 (54,065)-19.4%
Net Revenues Less Expenditures 63,498 (62,731)5,640
Golf Complex
Revenues 490,480 6,536,911 553,108 (5,983,804)-91.5%
Expenditures 779,391 732,809 845,950 113,141 15.4%
Net Revenues Less Expenditures (288,911)5,804,103 (292,842)
2017 revenues down due to inclement weather conditions in Q1.
Fleet Services
Revenues 1,620,411 1,630,134 3,507,122 1,876,988 115.1%
Expenditures 1,138,412 1,656,616 2,755,391 1,098,776 66.3%
Net Revenues Less Expenditures 481,999 (26,482)751,731
Central Services
Revenues 108,312 128,461 107,819 (20,642)-16.1%
Expenditures 81,915 143,467 81,662 (61,805)-43.1%
Net Revenues Less Expenditures 26,396 (15,006)26,157
Debt Service Funds
Enterprise Funds
Internal Service Funds
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thru April thru April thru April
Operating revenues and expenditures only; capital and non-capital projects are excluded.
April 2019 Monthly Financial Report
City of Kent, Washington
Other Funds Overview (Revenues and Expenditures)
Year-to-Year Month Comparison
2019-18
Variance
Information Technology
Revenues 2,622,784 2,770,321 3,520,415 750,094 27.1%
Expenditures 2,370,446 2,894,614 2,665,877 (228,737)-7.9%
Net Revenues Less Expenditures 252,337 (124,293)854,539
Facilities
Revenues 1,562,151 1,636,442 1,763,675 127,233 7.8%
Expenditures 1,306,714 1,333,626 1,366,178 32,552 2.4%
Net Revenues Less Expenditures 255,437 302,815 397,497
Unemployment
Revenues 69,466 45,643 54,231 8,588 18.8%
Expenditures 20,279 48,507 81,978 33,471 69.0%
Net Revenues Less Expenditures 49,187 (2,864)(27,747)
Workers Compensation
Revenues 343,075 325,166 407,015 81,849 25.2%
Expenditures 345,943 376,004 407,042 31,039 8.3%
Net Revenues Less Expenditures (2,868)(50,837)(27)
Employee Health & Wellness
Revenues 3,645,397 3,809,343 4,943,039 1,133,696 29.8%
Expenditures 4,429,376 4,671,318 4,182,861 (488,457)-10.5%
Net Revenues Less Expenditures (783,979)(861,974)760,179
Liability Insurance
Revenues 431,191 597,243 786,261 189,018 31.6%
Expenditures 1,892,934 1,143,484 935,265 (208,219)-18.2%
Net Revenues Less Expenditures (1,461,743)(546,241)(149,004)
Property Insurance
Revenues 186,644 191,515 934,075 742,559 387.7%
Expenditures 217,064 217,838 404,472 186,634 85.7%
Net Revenues Less Expenditures (30,420)(26,322)529,603
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
Special Revenue
Funds
Enterprise
Funds
Internal Service
Funds
Other Fund Revenues thru April
2017
2018
2019
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
Special
Revenue Funds
Enterprise
Funds
Internal Service
Funds
Other Fund Expenditures thru April
2017
2018
2019
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OPERATIONS COMMITTEE
Derek Matheson, Chief Administrative Officer
220 Fourth Ave S
Kent, WA 98032
256-856-5712
DATE: June 4, 2019
TO: Operations Committee
SUBJECT: 1st Quarter 2019 Investment Report
SUMMARY: Per City policy, once a quarter the Finance Director shall submit a
report to the Operations Committee that summarizes the City’s investment
portfolio.
SUPPORTS STRATEGIC PLAN GOAL:
Sustainable Services
ATTACHMENTS:
1. Q1 2019 Investment Reports (PDF)
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CITY OF KENT
INVESTMENT PORTFOLIO
March 31,2019
Market ValuePurchase Investment
16,551,825
75,t6O,7LOOvernight
9
Llt9
Ban
WA State LGIP
PFM
2.523o/o
2.5 1
75,L6O,7rO
11
Kent Portfolio
r Cash
r WA State LGIP
r U,S. Treasuries
r Supra National Bonds
r Municipal Bonds
r Gov't. Agencies
¡ Corporate Notes
¡ Commercial Paper
¡ Bank Notes
PFM initiated 10 investment trades in the lst quarter of 2019.
The PFM managed portfolio held 104 investments atO3/3L|2OL9.
The City is currently carrying greater than adequate liquidity in cash and the LGIP.
Portfolio allocations atO3/3L/2O19 were in compliance with the City's investment policy.
Q1-2019 investment interest revenue: $1,203,561.48.
YTD -2019 investment interest revenue: $1,203,561.48.
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CITY OF KENT
CASH AND INVESTMENTS BY TYPE
QUARTER ENDING BALANCES
2018 Q1-Q4 AND 2019 Qt
250,000,000
200,000,000
150,000,000
100,000,000
50,000,000
,-----------o
---a-,- Totatc&l
+LGIP
'.,...,......P Otherlnvestments
+ Câsh
ã-x
,-----------14'--
X
a---'
3-
lst Quarter 2018 2nd Quarter 2018 3rd Quarter 2018 4th Quarter 2018 1st Quarter 2019
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CASH AND INVESTMENTS
MONTH ENDING BALANCES
2017t2018t2019
250,000,000
200,000,000
150,000,000
-æ19
-ã18
------- m17
100,000,000
50,000,000
\o
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JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
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Quarterly Interest Earnings
Ql, 2O1g - QLt 2lJ-tg
1,200,000
L,O77,Og3 L,O73,827
1,000,000
800,000
600,000
585,449
485,650
400,000
200,000
78,225
Q12018 Q2 2018 Q3 2018 Q4 2018 Q12019
t General Fund r Other Funds
L¿9,t35I
4ra '-aL2t,O73I
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Total Cash and Investments By Fund
March 3tt 2OLg
1 000
1 100
1200
1 300
1400
1500
1 600
1800
1 900
1950
2200
2500
3100
3200
3300
3400
3500
4100
4300
4400
4700
4800
5100
5200
5400
5600
5900
6200
6400
6500
6600
6700
6800
7100
General Fund
Street Fund
PS Retiree Healthcare Fund
Lodging Tax Fund
Youth/Teen Fund
Capital Resources Fund
Criminal Justice Fund
Housing & Comm Dev Fund
Other Operating Projects Fund
Kent Events Center Operating Fund
Non-Voted Debt Service Fund
Spec Assess Debt Service Fund
Street Capital Projects Fund
Parks Capital Projects Fund
Other Capital Projects Fund
Technology Capital Projects Fund
Facilities Capital Projects Fund
Water Fund
Sewer Fund
Drainage Fund
Solid Waste Fund
Golf Fund
Fleet Service Fund
Central Services Fund
Facilities Management Fund
Insurance Fund
Deferred Compensation Fund
Firefighters Pension Fund
Deferred Comp Fund
Payroll Clearing Fund
Subsystem Clearing Fund
Utility Clearing Fund
Agency Clearing Fund
Special Events Center-PFD
Total:
18,645,075
8,715,958
1,689,924
355,942
269,609
15,842,045
6,600,852
(133,742)
797,824
2,443,312
1,439,366
318,671
14,936,246
14,075,976
1,637,752
6,253,482
37,365
40,777,919
(2,242,399)
41,504,067
552,870
3,973,996
6,453,769
4,371,757
5,269,983
11,147,235
39,154
2,122,817
124,695
(17,922)
634,259
1,605,745
437
210
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pfrn
CTTYOFKEñrT.. ..r .r_ 1,,
U.S. Treasury Bond / Note
Supra-National Agency Bond / Note
Municipal Bond / Note
Federal Agency Bond / Note
Corporate Note
Bank Note
Managed Account Sub-Total
Accrued Interest
Total Portfolio
Unsettled Trades
2.LZo/o 2.74o/o
Portfolio Summaly and Statistics
Par Value Market Value Percent
120,63+000.00 Lt9,æ2ß22.69 100.00o/o
606,813.71
120,634,000.00 L2O,4/'/9,436.4O
0.oo 0.00
23.43o/o
20.50o/o
US TSY Bond /
53.53o/o
Yield to Maturity at Cost
Yield to Maturity at Market
Duration to Worst
Weighted Average Days to Maturity
For the Month Ending March 31, 2019
Bank Note
O.4lo/o
Corporate Note
25.13o/o
Fed Agy Bond /
Note
16.75o/o
Muni Bond / Note
0.38o/o
Supra-Nat¡onal
Bond / Note
4.4ïo/o
2.600/o
2.4Io/o
2.62
1003
64,945,000.00
5,285,000.00
455,000.00
19,489,000.00
29,965,000.00
495.000.00
64,L21,600.27
5,276,049.02
459,109.65
L9,347,377.88
30,106,612.31
49t,875.56
s3.53
4.40
0.38
16,15
25.13
0.41
27.8to/o
T
i
[--* *t i-*- *l
0-6Months 6-12Months 1-zYears 2-3Years 3-4Years 4-syears Oversyears
Account Summary Sector Allocation
Maturity Distribution Characteristics
PFM Âsset Management LLç Account 48820OO0 Page 2
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