Everett City Council

CITY OF EVERETT BUDGET COUNCIL COMMITTEE Date: April 16, 2025 Time: 5:30 p.m. – 6:15 p.m. Location: Everett City Council Chambers The public is welcome to attend in person or remotely. There will be no public comment during committee meeting. To watch remotely, visit our YouTube channel at https://www.youtube.com/everettcity/live. Agenda Items I. Year-to-date Budget Performance II. Summary of recent community outreach budget survey results Committee members: all members of the Council, chaired by Council President Schwab The City of Everett does not discriminate on the basis of disability in the admission or access to, or treatment in, its programs or activities. Requests for assistance or accommodations can be arranged by contacting the Everett City Council Office at 425.257.8703. For additional information, please visit our website at https://www.everettwa.gov/3129/American-Disabilities-Act-ADA-and-Title-.  City of Everett Budget & Finance Committee April 16, 2025  Agenda • Year-to-date Budget Performance • Budget Community Outreach Review February Financial Report General Government Revenues 2025 YTD% Budget Actual 180,000,000 Month of Budget 160,000,000 Jan 11,416,854 11,638,015 101.94% 140,000,000 Feb 20,428,773 21,633,632 105.90% 120,000,000 Mar 28,301,586 100,000,000 Apr 40,922,035 May 69,736,525 80,000,000 Jun 82,335,830 60,000,000 Jul 96,506,937 40,000,000 Aug 105,877,607 20,000,000 Sep 114,005,477 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Oct 127,605,666 Nov 155,010,134 2025 Actual 2024 Actual 2025 Budget Dec 167,477,961 February Financial Report B&O Tax YTD Budget YTD Actual 2025 Budget Estimate Receipts Variance $ Variance % $ 21,889,108 $ 4,348,732 $ 4,709,278 $ 360,546 8.3% 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 Actual 2024 Actual 2025 Budget February Financial Report Sales Tax YTD Budget YTD Actual 2025 Budget Estimate Receipts Variance $ Variance % $ 40,059,930 $ 6,751,079 $ 6,768,468 $ 17,389 0.3% 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 Actual 2024 Actual 2025 Budget February Financial Report Sales Tax Top Sales Tax Sectors as of February 28, 2025 Cumulative $ Cumulative % % of Total Over/(Under) Over/(Under) Sales Tax Sector Sales Tax Budget Budget Retail 39.8% $ 11,178 0.4% Construction 14.6% $ (80,772) -7.6% Accommodation & Food Services 8.3% $ 5,564 1.0% Wholesale Trade 9.0% $ 73,928 13.9% Manufacturing 6.4% $ (44,162) -9.2% Information 4.0% $ 8,098 3.1% February Financial Report General Government Expenditures 2025 YTD% Budget Actual 180,000,000 Month of Budget 160,000,000 Jan 16,435,714 14,205,942 86.43% 140,000,000 Feb 28,773,131 25,752,465 89.50% 120,000,000 Mar 42,629,567 100,000,000 Apr 55,720,441 80,000,000 May 69,109,406 60,000,000 Jun 82,743,202 40,000,000 Jul 96,818,444 20,000,000 Aug 110,998,368 - Sep 126,515,975 Oct 138,508,873 2025 Actual 2024 Actual 2025 Budget Nov 151,836,277 Dec 172,166,781 Budget community outreach in August 2024 • Hosted 3 community meetings, including one listening session with elected officials • Launched budget community survey • Accepted feedback via email and mail 8 2024 Community Survey – Responses 9 2024 Community Survey – Responses Which areas do you believe should be considered for the most significant cuts? 10 2024 Community Survey – Responses 11 QUESTIONS/COMMENTS