HomeMy WebLinkAbout2024.10.22 PPFD Meeting PacketPasco Public Facilities District Board
Building Regional Facilities through Community Partnerships
AGENDA
4:00 PM - Tuesday, October 22, 2024; Pasco City Hall, Council Chambers & Microsoft
Teams Webinar
Page
I. MEETING INSTRUCTIONS for REMOTE ACCESS - Individuals, who
would like to provide public comment remotely, may continue to do so by
filling out the online form via the City’s website (www.pasco-
wa.gov/publiccomment) to obtain access information to comment. Requests
to comment in meetings must be received by 1:00 p.m. on the day of
each meeting. To listen to the meeting via phone, call 323 676-6197 and
use access code 175 320 016#.
II. Welcome, Call To Order, and Roll Call
III. Executive Session
A. Discussion with Legal Counsel About Current or Potential
Litigation per RCW 42.30.110(1)(i) (15 minutes)
IV. Recognition of Visitors/Public Comments - This item is provided to allow the
public the opportunity to bring items to the attention of the Pasco Public Facilities
District Board. Its purpose is not to provide a venue for debate or for the posing of
questions with the expectation of an immediate response. Public comments will
normally be limited to three minutes by each speaker. Those with lengthy
messages are invited to summarize their comments and/or submit written
information for consideration by the PPFD Board outside of formal meetings. Lastly,
when called upon, please state your name and city or county residency before
providing your comments.
V. Approval of Minutes
4 - 8 A. Approve PPFD Board September 2024 Meeting Minutes
MOTION: I move to approve the PPFD Board minutes from the
September 17, 2024, meeting.
VI. Claims Approval
9 A. Approval of PPFD Monthly Accounts Payable Claims
MOTON: I move to approve the September 2024 PPFD claims
(accounts payable) in the amount of $4,779,284.02.
10 - 11 B. Approval of Travel Reimbursement for PPFD Executive Director
Page 1 of 32
MOTION: I move to approve travel reimbursement for the PPFD
Executive Director, for recent travel to Lynwood, Washington where
he participated in the Association of Washington Public Facilities
Conference, in the amount of $377.58.
VII. Financial Report
12 - 15 A. September 2024 Balance Sheet, Budget Performance Report and
Local Tax Distribution Report
VIII. Reports from Committees
A. Design & Construction Committee (Gillespie & Jilek; Alternate
Morrissette)
B. Audit & Finance Committee (Morrissette & Bowdish; Alternate
Jilek)
C. Association of Washington PFDs Conference Report (Bowdish,
Watkins, and Gardner)
IX. Old Business
X. New Business
16 A. Potential Betterments Planning (Watkins)
MOTION: I move to adopt the Betterments presented totaling $2.3M
contingent there is not a Debt Service Reserve Fund requirement.
17 - 19 B. PPFD Investment Policy (Buckley & Perez)
MOTION: I move to approve Resolution No. 2024-12, to adopt the
Pasco Public Facilities District Investment Policy.
20 - 24 C. Excess Cash Deposit Alternatives (Ferguson, Buckley, &
Watkins)
MOTION: I move to approve Resolution No. 2024-13, authorizing
investment of Pasco Public Facilities District funds in U.S. Bank
under the IntraFi Cash Service.
-and/or-
MOTION: I move to approve Resolution No. 2024-14, authorizing
investment of Pasco Public Facilities District funds in the Local
Government Investment Pool.
Page 2 of 32
D. Rezone and Special Permit Application
MOTION: I move to direct the PPFD Executive Director to apply and
complete a rezone application for the 13 acres of Broadmoor property
from Residential-Transitional (R-T) to Mixed Use including $825 fee
for rezone fee, environmental checklist, radius notification, City
application review costs, and any other tasks or fees reasonably
necessary to complete the rezone process.
XI. Other Business
A. PPFD Executive Director Report (Watkins)
1. State Financial Review
2. City Council Update
3. Bonding
4. Marketing, Development and Furnishings
25 - 32 B. Owner’s Representative Report (Gardner)
1. Project Update
C. Pasco Operation and Maintenance (Rice)
D. Next PPFD Board Meeting Scheduled for Tuesday, November 19,
2024
XII. Adjournment
Page 3 of 32
Pasco Public Facilities District Board
MINUTES
4:00 PM - Tuesday, September 17, 2024; Pasco City Hall, Council Chambers &
GoToWebinar
WELCOME, CALL TO ORDER, AND ROLL CALL
Pasco Public Facilities District (PPFD) President Morrissette welcomed
members of the audience and called the meeting to order at 4:00 PM.
Board Members Present: President Mark Morrissette, Vice President
Marie Gillespie, Secretary/Treasurer Caroline Bowdish, Board Member
Leonard Dietrich, and Board Member Spencer Jilek
Board Staff Present: PPFD Executive Director Matt Watkins
City Council & Staff Present: City Attorney Eric Ferguson, Senior
Accountant Veronica Perez, Parks & Recreation Director Jesse Rice,
and City Clerk Debby Barham
APPROVAL OF MINUTES
Approve PPFD Board August 2024 Meeting Minutes
MOTION: Mr. Dietrich moved to approve the PPFD Board minutes from
the August 27, 2024, meeting. Seconded by Dr. Jilek. Motion carried
unanimously.
CLAIMS APPROVAL
Approval of PPFD Monthly Accounts Payable Claims
Ms. Bowdish arrived to the meeting at 4:03 PM.
Ms. Perez provided a brief overview of the August 2024 PPFD Accounts Payable
document.
MOTION: Dr. Jilek moved to approve the August 2024 PPFD claims
(accounts payable) in the amount of $291,672.11. Seconded by Mr.
Dietrich. Motion carried unanimously.
FINANCIAL REPORT
August 2024 Balance Sheet, Budget Performance Report and Local
Page 1 of 5Page 4 of 32
Tax Distribution Report
Ms. Perez provided a brief report on the PPFD financial reports.
REPORTS FROM COMMITTEES
Design & Construction Committee
Ms. Gillespie provided a report from the Design & Construction Committee noting
that the Committee was in the process of updating various features located both
inside and outside the facility.
Audit & Finance Committee
Mr. Morrissette distributed a document to the PPFD Board that included his
thoughts as he read through the proposed Bond Resolution. He commented on
his understanding of the Bond Resolution and the amount of funding that can be
borrowed through the Bond.
Mr. Morrissette asked Marc Greenough to further explain the bonding
requirements related to protecting the PPFD Board members from liability.
Scott Bauer also spoke about the repayment of the Bond.
Lynnwood Visit
Mr. Morrissette and Mr. Dietrich provided a brief recap of the visit to the aquatics
facility located in Lynnwood, Washington.
Mr. Morrissette distributed another document to the PPFD Board, which included
a list of questions he gave to Mr. Watkins before the PPFD delegation traveled to
the aquatics facility located in Blue Springs, Missouri. The document was
updated to include answers provided from the aquatic facilities located in both
Blue Springs, Missouri and Lynnwood, Washington.
NEW BUSINESS
Resolution - Approval of Bonding Resolution
Mr. Greenough, Attorney and Principal with Foster Garvey, provided a brief
overview of the proposed PPFD Bonding for the construction of the aquatics
facility.
The PPFD Board, Mr. Greenough, and staff continued to discuss the proposed
resolution approving the issuance of the bonding.
Page 2 of 5Page 5 of 32
MOTION: Ms. Bowdish moved to approve Resolution No. 2024-09
relating to contracting indebtedness; providing for the issuance, sale,
and delivery of sales tax bonds to provide funds to pay or reimburse the
payment of the cost of acquiring, constructing, and equipping an aquatic
center, to fund a debt service reserve, and to pay costs of issuance and
sale of the bonds; fixing certain terms and covenants of the bonds; and
providing for other related matters. Seconded by Dr. Jilek. Motion
carried unanimously.
Question Related to Bond Issuance
Mr. Bauer, Financial Advisor with Northwest Municipal Advisors, spoke about the
possibility of not utilizing a debt service reserve fund (DSRF) of about $3.3M, as
it is not needed for the bond issuance. He offered two options and requested that
the PPFD Board determine which option they prefer.
The options Mr. Bauer presented were:
Baseline: $47M to the Construction Fund and $3.3M to the DSRF
Option A: $47M to the Construction Fund and $0 to the DSRF
Option B: $50M to the Construction Fund and $0 to the DSRF
The PPFD Board and staff discussed the aquatics facility, its current budget,
design, betterments list and how adding an addition $3M to the construction
budget would enhance the aquatics facility.
The PPFD Board concurred to move forward with Option B for the issuance of
the bonds.
MOTION: Dr. Jilek moved to approve Option B ($50M to the
Construction Fund and $0 to the DSRF) contingent on there note being
a Debt Service Reserve Fund requirement. Seconded by Mr. Dietrich.
Motion carried unanimously.
Resolution - Approval of Contracting for Personal Service
Providers Policy (Veronica Perez)
Ms. Perez provided a brief overview and purpose of the proposed Contracting for
Personal Service Providers Policy. She recommended the PPFD Board approve
the proposed policy.
Mr. Ferguson discussed Revised Code of Washington (RCW) requirements
relate to PPFD policies. He noted that there was an incorrect RCW reference in
the proposed resolution under the second whereas and that is will be changed
from RCW 36.100.180 to RCW 35.57.070. He asked that the motion include "as
amended."
MOTION: Dr. Jilek moved to approve Resolution No. 2024-10, as
amended, to adopt the Contracting with Personal Service Providers
Page 3 of 5Page 6 of 32
Policy. Seconded by Mr. Dietrich. Motion carried unanimously.
Resolution - Adopt US Bank as the PPFD Financial Institution
Ms. Perez explained that since the City of Pasco is the fiscal agent for the PPFD,
it seems appropriate that the PPFD open a bank account with US Bank, the
same financial institution that the City of Pasco uses.
MOTION: Dr. Jilek moved to approve Resolution No. 2024-11, to adopt
US Bank as its financial institution, the same bank uses the City of
Pasco, Washington, which is the fiscal agent for the Pasco Public
Facilities District. Seconded by Ms. Bowdish. Motion carried
unanimously.
OTHER BUSINESS
PPFD Executive Director Report
Mr. Watkins thanked the PPFD Board members for visiting other aquatic
facilities. He announced that the purchase of the 13-acre property has been
finalized. He reported on the status of the Washington State Financial Review.
He provided an update on the PPFD Ambassadors. Lastly, he announced that
the Pasco City Council has asked for an update on the status of the PPFD
activities; that presentation is scheduled for October 15th.
Owner’s Representative Report (Heath Gardner)
Mr. Gardner reported on the aquatics facility design progress. He also briefly
discussed the status of the budget and noted that the project is still on schedule
to break ground before the end of 2024.
Pasco Operations and Maintenance (Jesse Rice)
Mr. Rice provided a brief update on amending the Interlocal Agreement between
the City of Pasco and the PPFD. He also provided a recap of a recent meeting
he attended with the Parks and Recreation Boards from the Cities of Richland
and Kennewick.
The next PPFD Board Meeting is scheduled for Tuesday, October 22,
2024
EXECUTIVE SESSION
The PPFD Board adjourned into Executive Session at 5:41 PM for 15
minutes, returning at 6:01 PM, to hold a discussion with legal counsel
about current or potential litigation per RCW 42.30.110(1)(i) with the
Page 4 of 5Page 7 of 32
PPFD Executive Director, Pasco Senior Accountant, and the City
Attorney.
President Morrissette called the meeting back to order at 6:02 PM.
ADJOURNMENT
There being no further business, the meeting was adjourned at 6:02 pm.
PASSED AND APPROVED THIS ___ DAY OF __________, 20__
APPROVED:
Mark Morrissette, President Debra Barham, MMC
Page 5 of 5Page 8 of 32
Sep-24
Sum of Amount GL Date
Subledger Account Description Vendor/Customer Item Description Sep
Accounts Payable Miscellaneous Services WATKINS ENDEAVOR LLC SERVICES FOR PPFD AUG 2024 10,390.00
Miscellaneous Services Total 10,390.00
Organizational Services KENNEWICK PUBLIC FACILITIES DISTRICT PFD SALES TAX REC'D BY PASCO AND SENT TO KEN FOR AUG 2024 87,004.53
Organizational Services Total 87,004.53
Professional Services BOUTEN CONSTRUCTION CO PPFD AQUATIC FACILITES PROJECT 134,092.56
WENAHA GROUP INC SERVICES FOR PPFD/AQAUTIC CENTER AUG 2024 20,516.52
Professional Services Total 154,609.08
Train Registration Tuition US BANK CARD SVCS (EFT ONLY) 6422 RICE - CONFERENCE FOR PPFD MEMBERS 900.00
Train Registration Tuition Total 900.00
Land & Land Improvements TICOR TITLE COMPANY PURCHASE OF BROADMOOR PROPERTY UNDER PPFD RESOLUTION 4,525,300.94
LID PAYMENT FOR ROAD 108 PTN SE4 7-9-29 1,079.47
Land & Land Improvements Total 4,526,380.41
Accounts Payable Total 4,779,284.02
General Ledger Organizational Services City of Pasco September 2024 ILA Subsidy Payment 10,154.25
Organizational Services Total 10,154.25
General Ledger Total 10,154.25
Grand Total 4,789,438.27 Pa
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Name:Invoice #:
Dept/Div:Inv Date:
Job Title:
Prepared by:
City:Date:8/23/2024 Date:8/25/2024
State:Time:09:00 Time:19:00
Yes/No
Did you stay in a hotel?Yes
Did the hotel provide hot breakfast?No
Did the conference provide hot breakfast?Yes
Did the conference provide lunch/dinner?2, not 3
Did you drive your personal vehicle?Yes
Did you attempt to check-out a City vehicle? No
Do you receive a vehicle allowance?No
Was a rental car used? No
Advance -$
Actual 377.58$
-$
-$
-$
-$
377.58$
Signatures:
Employee:Date:
Manager/Director:Date:
Finance Audit:Date:
GL Account:Amount:
GL Account:Amount:
GL Account:Amount:
Destination: Departure: Return:
ADVANCE TRAVEL AND EXPENSE REIMBURSEMENT FORM
Matt Watkins
Executive Director (Advance Travel assigned by Finance.)
Matt Watkins
Purpose or Explanation of Trip:Visit comparable aquatics facility recently completed to
view design, construction, amenities, and operations.
Local Transportation Receipts
Lynnwood
Washington
Checklist Documents
Conference/Training Registration
Event Schedule/Agenda
Hotel Receipt
Air Travel Itinerary
Authorization to drive personal auto
Map from primary workplace to
destination
Will you be reimbursed by another agency for this
travel?No Rental Car Receipt
Mail Mileage Travel Log
TOTAL
Less P-card Charges:
Less Advance Travel:
Amount of Advance:
Amount due City:
Amount due Employee:
I, having herewith presented an itemized list of expenses on the attached sheet, which amount to the total above, do hereby certify under penalty of perjury that the foregoing
accounting is just and true as therein stated; that no payment has been received by me on account thereof; that no rebate of any character, kind or description has been
made to me by any person or persons furnishing any of said transportation or subsistence; that the expenses charged were actually and necessarily incurred and paid by me
in lawful money.
Page 10 of 32
GL Account:Amount:
Name:
City:Date:8/23/24 Date:8/25/24
State:Time:09:00 Time:19:00
Pasco Blue Sprg TOTAL
Dates of Travel:8/23/24 8/24/24 8/25/24
Adv -$
Actual -$
Adv -$
Actual $22.20 22.20$
Adv -$
Actual 33.30$ 33.30$
Adv -$
Actual -$
Adv -$
Actual -$
Adv -$
Actual -$
Adv -$
Actual -$
Adv 249 miles 239 miles -$
Actual 164.34$ 157.74$ 322.08$
Adv -$
Actual -$
Other:Adv -$
Actual -$
Other:Adv -$
Actual -$
Mileage Adv -$
$0.66 Actual -$
Advance -$
Actual 377.58$
Amount of Advance:-$
Amount due City:-$
Amount due Employee:377.58$
Washington
Matt Watkins
Destination: Departure: Return:
Lynnwood
Less Advance Travel:
Breakfast
Lunch
Dinner
Registration
Hotel
Airfare
Communication
Transportation
Parking
TOTAL
Less P-card Charges:
Page 11 of 32
Current YTD Prior Year
Account Account Description Balance Total Actual Net Change Change %
Fund Category External
Fund Type
Fund 931 - Pasco Public Facility District
ASSETS
10
10.1010 Cash 1,810,774.13 3,424,863.62 (1,614,089.49)(47.13)
10 - Totals $1,810,774.13 $3,424,863.62 ($1,614,089.49)(47.13%)
12
12.1210 Taxes Receivable - Sales .00 1,011,598.43 (1,011,598.43)(100.00)
12 - Totals $0.00 $1,011,598.43 ($1,011,598.43)(100.00%)
ASSETS TOTALS $1,810,774.13 $4,436,462.05 ($2,625,687.92)(59.18%)
LIABILITIES AND FUND EQUITY
LIABILITIES
21
21.2105 Accounts Payable 154,609.08 267,178.88 (112,569.80)(42.13)
21 - Totals $154,609.08 $267,178.88 ($112,569.80)(42.13%)
LIABILITIES TOTALS $154,609.08 $267,178.88 ($112,569.80)(42.13%)
FUND EQUITY
29
29.2900 Fund Balance 4,169,283.17 4,169,283.17 .00 .00
29 - Totals $4,169,283.17 $4,169,283.17 $0.00 0.00%
FUND EQUITY TOTALS Prior to Current Year Changes $4,169,283.17 $4,169,283.17 $0.00 0.00%
Prior Year Fund Equity Adjustment .00 .00
Fund Revenues (3,650,797.03)(3,181,695.53)
Fund Expenses 6,163,915.15 647,673.69
FUND EQUITY TOTALS $1,656,165.05 $6,703,305.01 ($5,047,139.96)(75.29%)
LIABILITIES AND FUND EQUITY TOTALS $1,810,774.13 $6,970,483.89 ($5,159,709.76)(74.02%)
Fund 931 - Pasco Public Facility District Totals $0.00 ($2,534,021.84)$2,534,021.84 100.00%
Fund Type Totals $0.00 ($2,534,021.84)$2,534,021.84 100.00%
Fund Category External Totals $0.00 ($2,534,021.84)$2,534,021.84 100.00%
Grand Totals $0.00 ($2,534,021.84)$2,534,021.84 100.00%
Page 1 of 1Run by Veronica Perez on 10/07/2024 11:48:58 AM
Balance Sheet
Through 09/30/24
Detail Listing
Include Rollup Account/Rollup to Base
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Adopted Budget Amended Current Month YTD YTD Budget - YTD % Used/
Account Account Description Budget Amendments Budget Transactions Encumbrances Transactions Transactions Rec'd
Fund 931 - Pasco Public Facility District
REVENUE
Dept 13 - City Mgr
Prog 590 - PPFD Admin
31
31.1310 Local Sales Tax .00 4,200,000.00 4,200,000.00 456,168.37 .00 3,087,352.10 1,112,647.90 74
31.1311 PFD Sales Tax 500,000.00 340,000.00 840,000.00 82,891.84 .00 563,444.93 276,555.07 67
31 - Totals $500,000.00 $4,540,000.00 $5,040,000.00 $539,060.21 $0.00 $3,650,797.03 $1,389,202.97 72%
34
34.4527 PFD Pasco Support 20,000.00 (20,000.00).00 .00 .00 .00 .00 +++
34 - Totals $20,000.00 ($20,000.00)$0.00 $0.00 $0.00 $0.00 $0.00 +++
Prog 590 - PPFD Admin Totals $520,000.00 $4,520,000.00 $5,040,000.00 $539,060.21 $0.00 $3,650,797.03 $1,389,202.97 72%
Dept 13 - City Mgr Totals $520,000.00 $4,520,000.00 $5,040,000.00 $539,060.21 $0.00 $3,650,797.03 $1,389,202.97 72%
Dept 98 - Budgeted Fund Balance
Prog 000 - None
30
30.9999 Budget Est Beg Fund Balance (Unassigned).00 4,169,283.00 4,169,283.00 .00 .00 .00 4,169,283.00 0
30 - Totals $0.00 $4,169,283.00 $4,169,283.00 $0.00 $0.00 $0.00 $4,169,283.00 0%
Prog 000 - None Totals $0.00 $4,169,283.00 $4,169,283.00 $0.00 $0.00 $0.00 $4,169,283.00 0%
Dept 98 - Budgeted Fund Balance Totals $0.00 $4,169,283.00 $4,169,283.00 $0.00 $0.00 $0.00 $4,169,283.00 0%
REVENUE TOTALS $520,000.00 $8,689,283.00 $9,209,283.00 $539,060.21 $0.00 $3,650,797.03 $5,558,485.97 40%
EXPENSE
Dept 13 - City Mgr
Prog 590 - PPFD Admin
53
53.3210 Forms Stationary Bus Cards .00 100.00 100.00 .00 .00 .00 100.00 0
53 - Totals $0.00 $100.00 $100.00 $0.00 $0.00 $0.00 $100.00 0%
54
54.4510 Dues Subscription Memberships .00 500.00 500.00 .00 .00 .00 500.00 0
54.4512 Train Registration Tuition .00 1,000.00 1,000.00 900.00 .00 900.00 100.00 90
54.4514 Lodging Meals Miles Airfare .00 .00 .00 .00 .00 4,232.02 (4,232.02)+++
54.4524 Advertising 500.00 .00 500.00 .00 .00 .00 500.00 0
54.4530 Legal Combined Services 1,200.00 10,800.00 12,000.00 .00 .00 20,577.00 (8,577.00)171
54.4540 Organizational Services 500,000.00 454,000.00 954,000.00 97,158.78 .00 574,751.62 379,248.38 60
54.4541 Professional Services 5,000.00 1,045,000.00 1,050,000.00 154,609.08 .00 743,552.50 306,447.50 71
54.4544 Miscellaneous Services .00 .00 .00 10,390.00 .00 189,979.75 (189,979.75)+++
54.4635 Insurance Premiums 3,150.00 450.00 3,600.00 .00 .00 3,541.85 58.15 98
54.4900 I/F Admin Services 12,000.00 (12,000.00).00 .00 .00 .00 .00 +++
54 - Totals $521,850.00 $1,499,750.00 $2,021,600.00 $263,057.86 $0.00 $1,537,534.74 $484,065.26 76%
56
56.6110 Land & Land Improvements .00 3,000,000.00 3,000,000.00 4,526,380.41 .00 4,626,380.41 (1,626,380.41)154
Run by Veronica Perez on 10/07/2024 11:38:55 AM Page 1 of 2
Budget Performance Report
Date Range 01/01/24 - 09/30/24
Include Rollup Account and Rollup to Base
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Adopted Budget Amended Current Month YTD YTD Budget - YTD % Used/
Account Account Description Budget Amendments Budget Transactions Encumbrances Transactions Transactions Rec'd
Fund 931 - Pasco Public Facility District
EXPENSE
Dept 13 - City Mgr
Prog 590 - PPFD Admin
56 - Totals $0.00 $3,000,000.00 $3,000,000.00 $4,526,380.41 $0.00 $4,626,380.41 ($1,626,380.41)154%
Prog 590 - PPFD Admin Totals $521,850.00 $4,499,850.00 $5,021,700.00 $4,789,438.27 $0.00 $6,163,915.15 ($1,142,215.15)123%
Dept 13 - City Mgr Totals $521,850.00 $4,499,850.00 $5,021,700.00 $4,789,438.27 $0.00 $6,163,915.15 ($1,142,215.15)123%
Dept 98 - Budgeted Fund Balance
Prog 000 - None
59
59.9999 Budget Est End Fund Balance (Unassigned).00 4,187,583.00 4,187,583.00 .00 .00 .00 4,187,583.00 0
59 - Totals $0.00 $4,187,583.00 $4,187,583.00 $0.00 $0.00 $0.00 $4,187,583.00 0%
Prog 000 - None Totals $0.00 $4,187,583.00 $4,187,583.00 $0.00 $0.00 $0.00 $4,187,583.00 0%
Dept 98 - Budgeted Fund Balance Totals $0.00 $4,187,583.00 $4,187,583.00 $0.00 $0.00 $0.00 $4,187,583.00 0%
EXPENSE TOTALS $521,850.00 $8,687,433.00 $9,209,283.00 $4,789,438.27 $0.00 $6,163,915.15 $3,045,367.85 67%
Fund 931 - Pasco Public Facility District Totals
REVENUE TOTALS 520,000.00 8,689,283.00 9,209,283.00 539,060.21 .00 3,650,797.03 5,558,485.97 40%
EXPENSE TOTALS 521,850.00 8,687,433.00 9,209,283.00 4,789,438.27 .00 6,163,915.15 3,045,367.85 67%
Fund 931 - Pasco Public Facility District Totals ($1,850.00)$1,850.00 $0.00 ($4,250,378.06)$0.00 ($2,513,118.12)$2,513,118.12
Grand Totals
REVENUE TOTALS 520,000.00 8,689,283.00 9,209,283.00 539,060.21 .00 3,650,797.03 5,558,485.97 40%
EXPENSE TOTALS 521,850.00 8,687,433.00 9,209,283.00 4,789,438.27 .00 6,163,915.15 3,045,367.85 67%
Grand Totals ($1,850.00)$1,850.00 $0.00 ($4,250,378.06)$0.00 ($2,513,118.12)$2,513,118.12
Run by Veronica Perez on 10/07/2024 11:38:55 AM Page 2 of 2
Budget Performance Report
Date Range 01/01/24 - 09/30/24
Include Rollup Account and Rollup to Base
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Row Labels Sum of Accumulation Amount
Accommodation and Food Services 30,913.00$
Administrative and Support and Waste Management and Remediation Services 12,907.07$
Agriculture, Forestry, Fishing and Hunting 494.82$
Arts, Entertainment, and Recreation 2,459.49$
Construction 121,399.21$
Educational Services 447.64$
Finance and Insurance 1,724.68$
Health Care and Social Assistance 336.70$
Information 7,311.83$
Management of Companies and Enterprises 37.36$
Manufacturing 7,293.81$
Mining 20.88$
Other Services (except Public Administration) 9,890.53$
Professional, Scientific, and Technical Services 7,061.82$
Public Administration 192.42$
Real Estate Rental and Leasing 11,488.45$
Retail Trade 194,982.22$
Transportation and Warehousing 10,202.43$
Utilities 178.88$
Wholesale Trade 32,523.63$
#N/A 8,038.02$
Grand Total 459,904.89$
Accumulation 459,904.89$
Pool 871.24$
Admin Fee (4,607.76)$
Distribution 456,168.37$
September 2024 Pasco Public Facilities District
$30,913.00
$12,907.07 $494.82
$2,459.49
$121,399.21
$447.64
$1,724.68
$336.70
$7,311.83
$37.36 $7,293.81
$20.88
$9,890.53
$7,061.82 $192.42
$11,488.45
$194,982.22
$10,202.43
$178.88
$32,523.63
$8,038.02
Total
Accommodation and Food
Services
Administrative and
Support and Waste
Management and
Remediation ServicesAgriculture, Forestry,
Fishing and Hunting
Arts, Entertainment, and
Recreation
Construction
Educational Services
Finance and Insurance
Health Care and Social
Assistance
Information
Management of
Companies and
Enterprises
Manufacturing
Mining
Other Services (except
Public Administration)
Professional, Scientific,
and Technical Services
Public Administration
Real Estate Rental and
Leasing
Retail Trade
Category NameSum of Accumulation Amount
Page 15 of 32
Project Betterments
Priority Decision
Design & Construction Committee (Gillespie & Jilek) – Recommend Approval, 10/11/2024
Admin & Finance Committee (Morrisette & Bowdish) – Recommend Approval, 10/17/2024
PFD Board unanimously approved motion 9/17/2024 to move additional $3M from bond into design and construction, “contingent there is
not a Debt Service Reserve Fund requirement.”
Betterment Decision
Date
Estimated
Cost
Priority Item Sales Revenue/
Improved Exp.
Op/Maint Costs
12 9/27/2024 $1.2M High Additional 10% interior
Natatorium interior
small increase
2 12/18/2024 $340K High NextGen Chlorinator
13 11/15/2024 $60K Med-High Additional tunable lighting
18 12/18/2024 $395K Med-High Add skylights to the Natatorium
22 11/15/2024 $100K Med-High Add soƯit cladding to exposed
metal deck on exterior of building
30 12/18/2024 $190K Med-High Rain cloud (Sun Shower)
Total $2.3M
* Future Improvements under consideration: Indoor ninja course, 3rd slide or outdoor slide complex, sound system, LED screen.
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Resolution – 2024-13 – PPFD Investment Policy - 1
RESOLUTION NO. 2024-12
A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT
BOARD, TO ADOPT THE PASCO PUBLIC FACILITIES DISTRICT
INVESTMENT POLICY.
WHEREAS, the Pasco Public Facilities District (PPFD) was duly formed pursuant to
Chapter 35.57 of the Revised Code of Washington on July 15, 2002, by the adoption of City of
Pasco Ordinance No. 3558, and granted all powers provided by law pursuant to RCW 35.57.010;
and
WHEREAS, the PPFD Board confirms the need to establish standards and procedures for
selection of PPFD investments in compliance with RCW 35.57 and other applicable laws.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE PASCO PUBLIC FACILITIES DISTRICT AS FOLLOWS:
Section 1. The Pasco Public Facilities District (PPFD) adopts the “Pasco Public
Facilities District Investment Policy” as the policy and procedures for investing PPFD funds, a
copy attached hereto as Exhibit A.
Section 2. That if the document needs to be updated, the PPFD Board may adopt a
newer revision by motion and majority vote.
Section 3. That this Resolution shall take effect immediately.
PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington,
on this 22nd day of October, 2024.
PASCO PUBLIC FACILITIES DISTRICT
__________________________________
Mark Morrissette, Board President
ATTEST: APPROVED AS TO FORM:
_____________________________ ___________________________
Caroline Bowdish, Secretary/Treasurer Kerr Ferguson Law, PLLC
Pasco Public Facilities District Attorney for PPFD
Page 17 of 32
Pasco Public Facilities District
Investment Policy
Page 1 PPFD Board Approved __________
1. Purpose
The purpose of this policy is to establish guidelines for the investment of funds not
currently obligated for operational or capital needs. The goal is to ensure the preservation
of capital, provide liquidity to meet operating needs, and achieve a reasonable return on
investment in compliance with state law.
2. Scope
This policy applies to all funds of the Pasco Public Facilities District (PPFD) that are not
immediately needed for daily operations.
3. Objectives
The primary objectives of the PPFD’s investment activities are, in order of priority:
1. Safety: Safeguarding the principal of the investments by minimizing credit and
market risks.
2. Liquidity: Ensuring that funds are available to meet cash flow requirements.
3. Return on Investment: Attaining a market rate of return consistent with safety
and liquidity objectives.
4. Investment Authority
The ultimate responsibility and authority for the investment of District funds resides with
the Board of Directors who have the authority to direct the management of the District
investment program. The overall responsibility for managing the PPFD’s investment
program is hereby delegated to the Fiscal Agent, under the supervision of the Executive
Director. The Fiscal Agent will oversee investment transactions and ensure compliance
with this policy.
5. Authorized Investment Options
The PPFD is authorized to invest in the following instruments, in accordance with RCW
39.59.020:
o Local Government Investment Pool (LGIP): Funds may be invested in the
Washington State LGIP, a pool managed by the State Treasurer's Office. The LGIP
provides safety, liquidity, and competitive returns with daily access to funds.
o Deposits with US Bank: The PPFD may invest surplus funds in IntraFi Cash Service
(ICS), or other eligible financial instruments offered by US Bank. ICS provides
multi-million-dollar FDIC insurance, one rate, online access, and no additional
fees. US Bank provides safety, liquidity, and competitive returns with daily access
to funds.
6. Investment Approval Resolution
The Board of Directors hereby approves, by resolution, the decision to move forward with
investments in the Local Government Investment Pool (LGIP) and/or US Bank. Specific
allocations, terms, and conditions of the investments will be presented for review and
approval in subsequent meetings to ensure transparency.
Page 18 of 32
Pasco Public Facilities District
Investment Policy
Page 2 PPFD Board Approved __________
7. Investment Strategy
The PPFD will employ a strategy focused on matching investment maturities with
anticipated cash flow needs. Investments will typically be short-term, with maturities not
exceeding five years unless specifically approved by the Executive Director and the Bo ard.
8. Internal Controls
The fiscal agent will be responsible for establishing and maintaining an internal control
structure designed to ensure the assets of the District are protected from loss, theft or
misuse.
The internal control structure shall be designed to provide reasonable assurance that
these objectives are met. The concept of reasonable assurance recognizes that the cost
of control should not exceed the benefits likely to be derived, and the valuation o f costs
and benefits requires estimates and judgments by management. The internal controls
shall address the following points at a minimum:
• Control of collusion;
• Separation of transaction authority from accounting and recordkeeping;
• Custodial safekeeping;
• Avoidance of physical delivery of marketable securities;
• Clear delegation of authority to subordinate staff members;
• Written confirmation of transactions for investments and wire transfers;
• Dual authorizations of wire transfers;
• Staff training.
9. Reporting
The Executive Director or Fiscal Agent will provide quarterly investment reports to the
Board of Directors. These reports will include details on investment performance, market
conditions, and compliance with the investment policy.
Page 19 of 32
1
RESOLUTION NO. 2024-13
A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT
BOARD, AUTHORIZING INVESTMENT OF PASCO PUBLIC FACILITIES
DISTRICT FUNDS IN THE U.S. BANK UNDER INTRAFI CASH SERVICE
(ICS).
WHEREAS, U.S. Bank is a participating institution of the IntraFi Cash Service (ICS),
a service offered by IntraFi Network LLC; and
WHEREAS, from time to time it may be advantageous to the authorized governmental
entity, Pasco Public Facilities District (PPFD), the "governmental entity", to contribute funds
available for investment in the ICS; and
WHEREAS, the investment strategy for the ICS is to place funds into deposit accounts
established at other ICS participating institutions, in amounts less than the standard FDIC
insurance maximum, so that both principal and interest are eligible for FDIC protection, as a
result, you can access coverage from many banks, while working directly with one bank; and
WHEREAS, any contributions or withdrawals to or from the ICS made on behalf of
the governmental entity shall be duly authorized by the PPFD, the "governing body" and The
City of Pasco (Fiscal Agent) designee of the governing body pursuant to this resolution, or a
subsequent resolution; and.
WHEREAS, the governing body and The City of Pasco (Fiscal Agent) appointed by
the governing body with authority to contribute or withdraw funds of the governmental entity
understands the risks and limitations of investing in the ICS; and
WHEREAS, the governing body attests by the signature of its members that it is duly
authorized and empowered to enter into this agreement, to direct the contribution or
withdrawal of governmental entity monies, and to delegate certain authority to make
adjustments to the incorporated transactional forms, to the individuals designated herein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE PASCO PUBLIC FACILITIES DISTRICT AS FOLLOWS:
Section 1. The Pasco Public Facilities District (PPFD) authorizes Fiscal Agent to
contribute and withdraw funds of the PPFD for investment of district funds in the U.S. Bank IntraFi
Cash Service (ICS).
Section 2. That this Resolution shall take effect immediately.
Page 20 of 32
2
PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington,
on this __ day of ____________, 2024.
PASCO PUBLIC FACILITIES DISTRICT
__________________________________
Mark Morrissette, Board President
ATTEST: APPROVED AS TO FORM:
_____________________________ ___________________________
Caroline Bowdish, Secretary/Treasurer Kerr Ferguson Law, PLLC
Pasco Public Facilities District Attorney for PPFD
Page 21 of 32
3
Page 22 of 32
1
RESOLUTION NO. 2024-14
A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT
BOARD, AUTHORIZING INVESTMENT OF PASCO PUBLIC FACILTIIES
DISTRICT FUNDS IN THE LOCAL GOVERNMENT INVESTMENT POOL
(LGIP)
WHEREAS, in 1986, the Legislature created a trust fund to be known as the public
funds investment account (commonly referred to as the Local Government Investment Pool
(LGIP)) for the contribution and withdrawal of money by an authorized governmental entity
for purposes of investment by the Office of the State Treasurer; and
WHEREAS, from time to time it may be advantageous to the authorized governmental
entity, Pasco Public Facilities District (PPFD), the "governmental entity", to contribute funds
available for investment in the LGIP; and
WHEREAS, the investment strategy for the LGIP is set forth in its policies and
procedures; and
WHEREAS, any contributions or withdrawals to or from the LGIP made on behalf of
the governmental entity shall be duly authorized by the PPFD, the "governing body" and The
City of Pasco (Fiscal Agent) designee of the governing body pursuant to this resolution, or a
subsequent resolution; and
. WHEREAS, the governmental entity will cause to be filed a certified copy of said
resolution with the Office of the State Treasurer; and
WHEREAS, the governing body and The City of Pasco (Fiscal Agent) appointed by
the governing body with authority to contribute or withdraw funds of the governmental entity
has received and read a copy of the prospectus and understands the risks and limitations of
investing in the LGIP; and
WHEREAS, the governing body attests by the signature of its members that it is duly
authorized and empowered to enter into this agreement, to direct the contribution or
withdrawal of governmental entity monies, and to delegate certain authority to make
adjustments to the incorporated transactional forms, to the individuals designated herein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE PASCO PUBLIC FACILITIES DISTRICT AS FOLLOWS:
Section 1. The Pasco Public Facilities District (PPFD) authorizes Fiscal Agent to
contribute and withdraw funds of the PPFD for investment of district funds in the Local
Government Investment Pool (LGIP).
Section 2. That this Resolution shall take effect immediately.
Page 23 of 32
2
PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington,
on this __ day of ____________, 2024.
PASCO PUBLIC FACILITIES DISTRICT
__________________________________
Mark Morrissette, Board President
ATTEST: APPROVED AS TO FORM:
_____________________________ ___________________________
Caroline Bowdish, Secretary/Treasurer Kerr Ferguson Law, PLLC
Pasco Public Facilities District Attorney for PPFD
Page 24 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 1 of 6
Construction Manager: Wenaha Group
Design‐Builder: Bouten/NAC
UPDATE SUMMARY
The project team is working on Design Development with completion anticipated at the
beginning of November. Major systems are being solidified with the meetings taking place
between the design/build team and stakeholders with the city of Pasco that will be
managing the systems. The SEPA report was filed, and the final Geotechnical report was
completed. Meetings have taken place with Franklin PUD and Cascade Natural Gas.
SCHEDULE
Key Milestones Start Completion %
Complete
Comments
SEPA and Grading
Permit
September
2024
November
2024
Design Development
Documents
September
2024
November
2024
75% Estimate update to
be completed at the
same time.
Early GMP (partial) December
2024
Onsite Mobilization January
2025
Final GMP February
2025
CURRENT ACTIVITIES
Regular design meetings focused on programming and early estimates.
Ongoing public engagement tasks and events.
Development and equipment choices are ongoing.
The Executive Director and Wenaha Group continue to gather necessary documents
and information for use by the bond finance team in issuance of a bond.
A betterments document has been developed with dates that choices need to be
made, and it is being tracked.
Ongoing coordination with the City of Pasco regarding permits and regulatory items.
ACTIVITIES SCHEDULED FOR NEXT MONTH
Continuation of design development.
Bond sale pricing with receipt of proceeds in November.
Design development estimate update.
Page 25 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 2 of 6
Meeting with city planners.
DOH pre application.
Fall Fest community outreach.
HIGHLIGHTS
The SEPA process is well underway.
Schematic design has come to completion.
The Geotechnical report was completed.
An initial meeting to review the Broadmoor standards was held with City of Pasco.
SCHEDULE COMMENTARY
The initial groundbreaking was scheduled for December of 2024 but has been
moved to January 2025. The delay is largely attributed to design changes to
incorporate important feedback following the team trip to Blue Springs into our
design.
CHALLENGES AND SOLUTIONS
There are some disparities that have surfaced between the Broadmoor development
standards and the Civic campus concept. Currently some of the major issues have
reached resolution with minor design changes. Regular partnering meetings have
been set up with the city to continue working through potential conflicts.
City of Pasco has recommended that the property be re-zoned. A schedule has been
worked out to accomplish the re-zone without impacting start of construction, but
this will continue to be monitored.
Several high priority betterments are reaching a go/no-go decision point where they
can be incorporated into the design without causing re-work, delays or additional
costs. The design and construction committee has been working on a
recommendation to the board for utilizing anticipated extra bond proceeds to
pursue some of these betterments while maintaining the current contingency level
for future risks.
Page 26 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 3 of 6
Budget Status
Current Design‐
Build Contract
Design‐Build
Budget
Validation
Estimated GMP
$3,167,861 $37,460,000 $37,460,000
CONTINGENCY STATUS
Budgeted
Contingency
Approved
Change Orders
Submitted
Change Items
Estimated
Contingency
Exposure
Percentage
of
Contingency
Exposure
$2,890,400 None None $0 0%
Page 27 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 4 of 6
PROJECT PHOTO GALLERY
Conceptual Exterior
Conceptual Exterior
Conceptual Site Layout
Page 28 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 5 of 6
Current Site Layout
Page 29 of 32
Pasco Aquatics Facility
Monthly Project Update
October 2024
Page 6 of 6
Current Floor Plan
Page 30 of 32
ABCDE = B ‐ D
Sub‐Area Description Original Budget Revised Budget Cost To Date Forecast Total Revised Budget
vs. Forecast
Bond & Legal
101 Bond Counsel 70,000$ ‐$ ‐$ ‐$
102 Bond Sales 310,000$ ‐$ ‐$ ‐$
103 Municipal Advisor 70,000$
104 Insurance ‐ Builder's Risk ‐ In PDB ‐$ ‐$ ‐$
Outside Counsel ‐ PDB 20,000$ 20,000$ 20,000$ ‐$
105 Other Legal Costs 45,000$ 45,000$ ‐$ 45,000$ ‐$
Subtotal 515,000$ 65,000$ ‐$ 65,000$ ‐$
Administration & Approvals
201 Miscellaneous ‐$ ‐$ ‐$
202 Project Staff Costs ‐ PPFD Staff 312,000$ 312,000$ ‐$ 312,000$ ‐$
City of Pasco Staff ‐ ILA 450,000$ 450,000$ 450,000$ ‐$
203 Archaeological cosultant ‐ In PDB ‐$ ‐$ ‐$
204 Testing & Inspection / Special Inspections ‐ In PDB ‐$ ‐$ ‐$
205 Plan Check, Building Permits ‐ In PDB ‐$ ‐$ ‐$
206 Environmental/SEPA ‐ In PDB ‐$ ‐$ ‐$
207 Other AHJ Fees / System Development Charges ‐$ ‐$ ‐$
208 Electrical / Utility Fees 100,000$ 100,000$ ‐$ 100,000$ ‐$
210 State Commerce Department Review 30,000$ 50,000$ ‐$ 50,000$ ‐$
211 Shrub Steppe Mitigation ‐ In PDB ‐$ ‐$ ‐$
212 Other Admin Costs 30,000$ 30,000$ ‐$ 30,000$ ‐$
Subtotal 922,000$ 942,000$ ‐$ 942,000$ ‐$
Off‐Site Related Costs
301 Temporary Offices ‐ In PDB ‐$ ‐$ ‐$
302 Offsite road and utility improvements 2,000,000$ ‐$ ‐$ ‐$ ‐$
303 Property Acquisition 3,600,000$ 4,950,000$ ‐$ 4,950,000$ ‐$
304 Other Off‐site Costs ‐$ ‐$ ‐$
Subtotal 5,600,000$ 4,950,000$ ‐$ 4,950,000$ ‐$
Professional Fees
401 Project Management 850,000$ 850,000$ 316,735$ 850,000$ ‐$
402 Architectural & Engineering ‐ In PDB ‐$ ‐$ ‐$
403 Survey ‐ In PDB ‐$ ‐$ ‐$
404 Geotechnical Engineer ‐ In PDB 30,000$ 10,000$ ‐$ 10,000$ ‐$
405 Hazardous Materials Consultants ‐$ ‐$ ‐$
406 Building Envelope Consultant ‐ In PDB ‐$ ‐$ ‐$
407 Commissioning ‐ In PDB ‐$ ‐$ ‐$
408 PDB Validation Costs ‐ In PDB ‐$ ‐$ ‐$
409 Independent Estimating 50,000$ 50,000$ ‐$ 50,000$ ‐$
Subtotal 930,000$ 910,000$ 316,735$ 910,000$ ‐$
Building Construction ‐ PDB Contract
501 Design‐Builder 30,250,000$ 32,720,000$ 928,359$ 32,720,000$ ‐$
6562.10 Archeological Consultant 50,000$ 50,000$ ‐$ 50,000$ ‐$
Testing and Special Inspections 150,000$ 150,000$ ‐$ 150,000$ ‐$
Plan Check, Building Permits 300,000$ 300,000$ ‐$ 300,000$ ‐$
Environmental/SEPA 10,000$ 10,000$ ‐$ 10,000$ ‐$
Additional Funds for Option 2 3,430,000$ ‐$ 3,430,000$ ‐$
800,000$ ‐$ 800,000$ ‐$
503 Sale Tax (included above)‐$ ‐$ ‐$
Subtotal 30,760,000$ 37,460,000$ 928,359$ 37,460,000$ ‐$
Furnishings & Equipment
601 FF&E 600,000$ 600,000$ ‐$ 600,000$ ‐$
602 Network Equipment ‐$ ‐$ ‐$
603 Telecommunications 20,000$ 20,000$ ‐$ 20,000$ ‐$
604 Moving Expenses ‐$ ‐$ ‐$
605 FF&E Consultant 20,000$ 20,000$ ‐$ 20,000$ ‐$
606 Other FF&E Costs ‐$ ‐$ ‐$ ‐$ ‐$
Subtotal 640,000$ 640,000$ ‐$ 640,000$ ‐$
Contingency
701 Owner's Contingency (7.7% of construction cost) 2,580,000$ 2,890,400$ 2,890,400$ ‐$
Subtotal 2,580,000$ 2,890,400$ 2,890,400$ ‐$
Under / (Over)
TOTAL 41,947,000$ 47,857,400$ 1,245,094$ 47,857,400$ ‐$
Income & Project Under/Over
47,857,400$
Bond Proceeds 47,000,000$ 51,000,000$
Interest Income ‐$ 3,142,600$
Potential Additional Bond Proceeds 3,000,000$
PPFD Cash Reserves 1,000,000$
‐$
Total Income 51,000,000$ 1,245,094$ Total Expenses to Date
Total Project cost
Total Income
Under / (Over)
PPFD ‐ Aquatics Facility
MASTER BUDGET ‐ BIG SHEET
Page 1Page 31 of 32
PPFD Aquatics Facility - Cashflow Projection to Ribbon Cutting
PPFD General Account
Current Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26
Expenses
Wenaha 26,000
PPFD Staff 10,400
Property
DB Contractor 500,000
Other Expenses 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000
PPFD Debt Service 3,400,000
Agreed Portion of City Debt Service 260,000 300,000
Additional 3 Acres of Land Purchase
Period Total 0 596,400 60,000 60,000 320,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 3,460,000 60,000 360,000 60,000 60,000 60,000
Accumalative Total 0 596,400 656,400 716,400 1,036,400 1,096,400 1,156,400 1,216,400 1,276,400 1,336,400 1,396,400 1,456,400 1,516,400 1,576,400 5,036,400 5,096,400 5,456,400 5,516,400 5,576,400 5,636,400
Income
Bond Proceeds 6,080,000
Sales Tax Period Total 1,810,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000 375,000
Accumalative Total 1,810,000 2,185,000 8,640,000 9,015,000 9,390,000 9,765,000 10,140,000 10,515,000 10,890,000 11,265,000 11,640,000 12,015,000 12,390,000 12,765,000 13,140,000 13,515,000 13,890,000 14,265,000 14,640,000 15,015,000
Account Balance 1,810,000 1,588,600 7,983,600 8,298,600 8,353,600 8,668,600 8,983,600 9,298,600 9,613,600 9,928,600 10,243,600 10,558,600 10,873,600 11,188,600 8,103,600 8,418,600 8,433,600 8,748,600 9,063,600 9,378,600
PPFD Project Account
Current Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26
Expenses
Wenaha 26,000
PPFD Staff 10,400
Property
DB Contractor 1,225,000
Total Project Expenses 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000
Transfer to PPFD General Account 6,080,000
Period Total 0 0 7,341,400 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,570,000 2,538,600
Accumalative Total 0 0 7,341,400 9,911,400 12,481,400 15,051,400 17,621,400 20,191,400 22,761,400 25,331,400 27,901,400 30,471,400 33,041,400 35,611,400 38,181,400 40,751,400 43,321,400 45,891,400 48,461,400 51,000,000
Income
Bond Proceeds 50,000,000
Other 1,000,000
Accumalative Total 0 0 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000 51,000,000
Account Balance $0 $0 $43,658,600 $41,088,600 $38,518,600 $35,948,600 $33,378,600 $30,808,600 $28,238,600 $25,668,600 $23,098,600 $20,528,600 $17,958,600 $15,388,600 $12,818,600 $10,248,600 $7,678,600 $5,108,600 $2,538,600 $0
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