FERNDALE, Wash. — It was reported in August that City of Ferndale revenues were all, with the exception of the solid waste taxes revenue, higher than estimated at that point in the year.
The following table details key City revenue sources as of the end of the third quarter of 2020 (3Q20) as reported by Finance Director Sirke Salminen. Estimates were established in 2019 during the budgeting process for the 2020 budget.
| Revenue Source | YTD 3Q19 | Estimate YTD 3Q20 | Actual YTD 3Q20 | Estimate vs Actual | 2019 vs 2020 |
|---|---|---|---|---|---|
| Property Taxes | $663,814 | $926,214 | $949,939 | $23,725 | $286,125 |
| Retail Sales Taxes | $1,783,688 | $1,577,607 | $1,935,072 | $357,465 | $151,384 |
| Transportation Benefit District Retail Sales Taxes | $418,831 | $315,354 | $455,645 | $140,291 | $36,814 |
| Building Permits | $647,067 | $626,958 | $790,439 | $163,481 | $143,372 |
| Park Impact Fees | $252,731 | $124,570 | $167,617 | $43,047 | ($85,114) |
| Traffic Impact Fees | $788,833 | $601,303 | $443,826 | ($157,477) | ($345,007) |
| Real Estate Excise Tax (REET1 & 2) | $662,239 | $543,448 | $756,232 | $212,784 | $93,993 |
| Water Connection Fees | $642,577 | $421,556 | $923,364 | $501,808 | $280,787 |
| Sewer Connection Fees | $1,024,905 | $597,673 | $1,531,494 | $933,821 | $506,589 |
| Water Utility Sales | $1,868,717 | $1,857,457 | $2,249,683 | $392,226 | $380,966 |
| Sewer Utility Sales | $2,987,705 | $2,992,025 | $3,221,111 | $229,086 | $233,406 |
| Storm Drainage Utility | $1,078,745 | $1,097,352 | $1,263,318 | $165,966 | $184,573 |
| Utility Tax (9% added to city utility billings) | $1,377,629 | $1,317,808 | $1,542,793 | $224,985 | $165,164 |
| Solid Waste Taxes | $2,176,482 | $1,875,986 | $1,961,898 | $85,912 | ($214,584) |
| TOTALS | $16,373,963 | $14,875,311 | $18,192,431 | $3,317,120 | $1,818,468 |
The 2020 City of Ferndale budget is approximately $75,000,000 (includes exceptionally large income and expenses related to Thornton Street Overpass and Waste Water Treatment Plant capital projects). The cash position of the city as of September 30, 2019 was $11,427,66 and $21,489,921 on the same date in 2020 as reported by Salminen.
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