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City of Ferndale 2020 revenues continue above estimates

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 SourceYTD 3Q19Estimate YTD 3Q20Actual YTD 3Q20Estimate vs Actual2019 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)
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)

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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