THE CITY OF MARYSVILLE, WASHINGTON

ANNUAL COMPREHENSIVE FINANCIAL REPORT

(For the Year Ending December 31, 2023)
 Annual Comprehensive Financial Report
For the Fiscal Year Ending
December 31, 2023

Jennifer Ferrer-Santa Ines

Finance Director

Prepared by

John Nield
Financial Planning Manager

Stephanie Janssen
Financial Operations Manager

Lindsey Ryan
Senior Financial Analyst

Tyler Shales
Financial Analyst

Andy Hougan
Financial Analyst

Anthony Sanders
Financial Analyst

City of Marysville 501 Delta Avenue Marysville, WA 360-363-8000

City of Marysville 2023 Introductory Section

TABLE OF CONTENTS

INTRODUCTORY SECTION
Letter of Transmission .............................................................................................................................................................. 3
GFOA Certificate of Achievement ............................................................................................................................................ 6
Organization Chart ................................................................................................................................................................... 7
City of Marysville Public Officials .............................................................................................................................................. 8

FINANCIAL SECTION
Independent Auditors Report ................................................................................................................................................... 9
Management’s Discussion and Analysis ................................................................................................................................ 12

Basic Financial Statements

Government Wide Financial Statements
Statement of Net Position ........................................................................................................................................ 23
Statement of Activities ............................................................................................................................................. 25
Fund Financial Statements
Balance Sheet – Governmental Funds .................................................................................................................... 26
Reconciliation of Balance Sheet – Governmental Funds to the
Statement of Net Position .......................................................................................................................... 27
Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ............................ 28
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balance of
Governmental Funds to the Statement of Activities ................................................................................... 29
Statement of Net Position – Proprietary Funds ........................................................................................................ 30
Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds ........................................... 31
Statement of Cash Flows – Proprietary Funds......................................................................................................... 32
Statement of Net Position – Fiduciary Funds ........................................................................................................... 34
Statement of Changes in Fiduciary Net Position – Fiduciary Funds ........................................................................ 35
Notes to Financial Statements ............................................................................................................................................ 37

Required Supplementary Information

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
General Fund ........................................................................................................................................................... 73
School Mitigation ...................................................................................................................................................... 74
Schedule of Proportionate Share of the Net Pension Liability ............................................................................................. 75
Schedule of Employer Contributions ................................................................................................................................... 78
Schedule of Changes in Total OPEB Liability ..................................................................................................................... 79

Combining and Individual Fund Statements and Schedules:

Governmental Funds
Combining Balance Sheet – Non-major Governmental Funds................................................................................. 80
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Non-major Governmental Funds................................................................................................................ 81
Combining Balance Sheet – Non-major Special Revenue Funds ............................................................................ 82
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Non-major Special Revenue Funds ........................................................................................................... 84
Combining Balance Sheet – Non-major Debt Service Funds................................................................................... 87
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Non-major Debt Service Funds ................................................................................................................. 88
Combining Balance Sheet – Non-major Capital Project Funds ................................................................................ 89
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Non-major Capital Project Funds ............................................................................................................... 90

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual:
Street Maintenance Fund ..........................................................................................................................................91
Drug Seizure Fund ....................................................................................................................................................92
Tribal Gaming Fund ..................................................................................................................................................93
Hotel/Motel Fund.......................................................................................................................................................94
I/Net ..........................................................................................................................................................................95

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City of Marysville 2023 Introductory Section
Community Development Block Grant (CDBG) ........................................................................................................96
GMA REET I Fund ....................................................................................................................................................97
GMA REET II Fund ...................................................................................................................................................98
Transportation Benefit District ...................................................................................................................................99
Affordable Housing Tax ..........................................................................................................................................100
COVID 19................................................................................................................................................................101
LTGO Debt Service Fund....................................................................................................................................... 102
Local Improvement District 71 (LID71)........................................................................ …………………………….. .103
LID Guaranty Fund ................................................................................................................................................ 104
Street Construction Fund ....................................................................................................................................... 105
Parks Construction Fund........................................................................................................................................ 106
General Capital Improvement ................................................................................................................................ 107
Proprietary Funds
Combining Statement of Net Position – Internal Service Funds............................................................................. 108
Combining Statement of Revenues, Expenses, and Changes in Net Position
Internal Service Funds ............................................................................................................................ 109
Combining Statement of Cash Flows – Internal Service Funds ............................................................................. 110
Fiduciary Funds
Combining Statement of Net Position– Fiduciary Funds ........................................................................................ 112
Combining Statement of Changes – Fiduciary Funds ............................................................................................ 113

STATISTICAL SECTION
Statistical Section Overview ................................................................................................................................................. 114
Financial Trends:
Net Position by Component – Last Ten Fiscal Years............................................................................... 116
Changes in Net Position – Last Ten Fiscal Years .................................................................................... 117
Fund Balances by Governmental Funds – Last Ten Fiscal Years ........................................................... 119
Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years ......................................... 120
Governmental Tax Revenues by Source – Last Ten Fiscal Years .......................................................... 121
Revenue Capacity:
Water Produced, Consumed & Wastewater Treated – Last Ten Fiscal Years ........................................ 122
Annual Connections – Last Ten Fiscal Years .......................................................................................... 123
Number of Water and Sewer Customers by Type – Last Ten Fiscal Years ............................................. 124
Water and Sewer Rates – Last Ten Fiscal Years .................................................................................... 125
Largest Water/Sewer Customers – Current Year and Ten Years Ago..................................................... 126
Taxable Assessed Value and Estimated Actual Value of Property – Last Ten Fiscal Years ................... 127
Property Tax Levies and Collections – Last Ten Fiscal Years ................................................................. 128
Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ...................................................... 129
Principal Property Tax Payers – Current Year and Ten Years Ago ......................................................... 130
Principle Sales Tax Payers – Last Ten Fiscal Years…………………………………………………………..131
Direct and Overlapping Sales Tax Rates – Last Ten Fiscal Years .......................................................... 132
Debt Capacity:
Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ................................................................. 133
Ratios of General Bonded Debt Outstanding – Last Ten Fiscal Years .................................................... 134
Direct and Overlapping Governmental Activities Debt – Current Year..................................................... 135
Legal Debt Margin Information – Last Ten Fiscal Years .......................................................................... 136
Pledged-Revenue Coverage – Last Ten Fiscal Years ............................................................................ 137
Demographic and Economic Information:
Demographic and Economic Statistics – Last Ten Fiscal Years .............................................................. 138
Major Employers – Current Year and Ten Years Ago.............................................................................. 140
Operating Information:
Full-Time Equivalent City Government Employees by Function – Last Ten Fiscal Years........................ 141
Operating Indicators by Function/Program – Last Ten Years .................................................................. 142
Capital Asset Statistic by Function/Program – Last Ten Years ................................................................ 143

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City of Marysville 2023 Introductory Section

XX June 2024

Honorable Mayor
The Marysville City Council,
Citizens of the City of Marysville:

This correspondence will formally transmit the Annual Comprehensive Financial Report (ACFR) of the City of Marysville for the
year ended December 31, 2023. This submittal is in accordance with Washington State Statutes and Marysville code provisions.
This report of the financial condition of the City also provides full financial disclosure in accordance with generally accepted
accounting principles (GAAP).

Management assumes full responsibility for the completeness and reliability of the information contained in this report, based
upon a comprehensive framework of internal control that has been established for this purpose. Because the cost of internal
control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the
financial statements are free of any material misstatements.

Cities and counties of the State of Washington use the Budgeting, Accounting and Reporting System (BARS) developed and
prescribed by the State Auditor’s Office. The City’s financial statements have been audited by the Washington State Auditor’s
office. The goal of an independent audit is to provide reasonable assurance that City financial statements for the fiscal year
ended December 31, 2023 are free of material misstatements. The State Auditor concluded based upon the audit, that there
was a reasonable basis for rendering an unmodified opinion that the City of Marysville’s statements are fairly presented in
conformity with GAAP. The State Auditor’s report is presented at the first component of the financial section of this report.

As the recipient of federal, state, and county financial assistance if the annual receipts exceed $750,000 the City is required to
undergo an annual single audit in conformity with the provisions of the Title 2 U.S. Code of Federal Regulations Part 200,
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). This
audit is conducted by the State Auditor’s Office in conjunction with the City’s annual independent audit. During this reporting
period the receipt of federal financial assistance did meet the threshold, so a single audit was performed.

GAAP requires that the City provide a narrative introduction, overview, and analysis to accompany the basic financial statements
in the form of a “Management’s Discussion and Analysis” (MD&A). This letter of transmittal is designed to complement the
MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the
independent auditors.

Profile of the Government

The City of Marysville is located 35 miles north of downtown Seattle and 4 miles north of Everett in Snohomish County. To the
west of the City are Interstate 5 and the Tulalip Indian Reservation and to the east lie the city of Lake Stevens and the foothills of
the Cascade Mountains. The City and the immediate area is primarily suburban and rural residential with supporting retail and
commercial enterprises. Light industrial and manufacturing business are located in the northern portion of the City. On
December 30, 2009, Marysville became the second largest City in the county with a current population of 732,380 when the City
annexed in the remaining Urban Growth Area. Incorporated in 1891, Marysville has developed into an ideally located economic
center, one that offers residents and businesses a way of life that provides opportunities to prosper, while preserving the
unhurried qualities we have all come to treasure in this fast-growing region.

Marysville is approximately 20.99 square miles in size. Visitors and residents can enjoy 444.58 acres of recreational attractions
including parks, soccer fields, nature trails, a boat launch and golf course. The City also offers visitors a number of new retail
shopping areas, restaurants and hotels.

The City of Marysville is a non-charter code city operating under a Council-Mayor form of government. City Council elections
are held every two years with Council members elected to staggered four-year terms. The Mayoral elections are held every
four years. Citizens of Marysville may run for Mayor or City Council if they are at least 18 years old and residents of the City for
the previous twelve months.

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City of Marysville 2023 Introductory Section

The Chief Administrative Officer (CAO) along with the Mayor, are responsible for implementing the policies and goals of the City
Council and provides leadership, coordination and development of City departments. The CAO is appointed by, reports directly
to, and serves at the pleasure of the Mayor.

The City of Marysville provides a full range of municipal services, including police, community development, street maintenance
and construction, parks and recreation, courts, and general administrative services. The City operates enterprise funds for
water, sewer, stormwater, solid waste, and golf course.

The City prepares a biennial budget in accordance with the Revised Code of Washington (RCW) 35.A.34. Biennial budgets
must be adopted by the City council prior to the first of each odd-numbered calendar year. This budget serves as the foundation
for the City of Marysville’s financial planning and control. The budget is prepared by fund and department. A budget increase or
decrease to a fund must be authorized by the City Council. Appropriation changes within a fund may be authorized by the Chief
Administrative Officer.

Long Term Financial Planning and Relevant Financial Policies

Because the city has been fiscally prudent in these past several years, we have a solid financial foundation from which to work.
An improving economy provides its own set of challenges: investing in economic development, diversifying our employment
base and providing the infrastructure to meet the needs of businesses coming our way. This high growth phase coupled with the
fiscal discipline of the last several years provides the opportunity to move forward and complete long-term projects that the city
has planned for quite some time.

The stewardship of public funds is one of the greatest responsibilities given to the officials and managers of the City of
Marysville. Therefore, the establishment and maintenance of wise fiscal policies enables City officials to protect public interests
and ensure public trust. These policies have been established to provide general fiscal guidelines and are intended to provide
sound direction in the management of the City’s financial affairs. They address topics that include the operating and enterprise
fund budgets, revenues and expenditures, cash management and investment, reserve and fund balance and debt management.

To ensure the City keeps abreast of and incorporates economic conditions into its financial plan, revenues are projected for six
years and the forecast is updated annually. Operating expenses are supported by ongoing revenues per City policy. Reserve
replenishment continues to be a high priority, with the objective of meeting and maintaining the reserve requirements. In 2021
S&P Global Rating upgraded the City’s bond rating from AA to AA+.

Major Initiatives
The 2023-2024 biennial budget approved by the City Council included the following major initiatives:

Transportation
• $9 million to complete the last phase of the State Avenue widening project between 104th and 116th Streets NE
• $3 million for preliminary work to widen 88th Street east of State Avenue to 67th Street NE
• $3.2 million in 2023 and $3 million in 2024 for street pavement repairs and overlays funded through the voter-approved
Transportation Benefit District

Note: The city’s First Street Bypass that opened in 2020 will directly connect to the state’s new south Marysville freeway
interchange at I-5 and SR 529. It is scheduled to begin construction in 2023, with completion in 2025

Water and Sewer Services

• $6.5 million for Downtown Stormwater Treatment design and construction
• $800,000 for site cleanup of the former Geddes Marina property
• $500,000 to complete stormwater and traffic safety improvements on 2nd Street east of State Avenue

City Parks
• $1.62 million for Strawberry Fields improvements
• $1.2 million for improvements to Jennings Nature Park
• $1 million to expand Ebey Waterfront Trail
• $1 million to replace playground equipment at various parks
• $800,000 toward phased public opening of Mother Nature’s Window

Personnel
• 30.5 new positions to meet the needs of our growing community

Awards and Acknowledgements

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement
for Excellence in Financial Reporting to the City of Marysville for its annual comprehensive financial report for the fiscal year

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City of Marysville 2023 Introductory Section
ended December 31, 2022. The City has received the award each year beginning in 2007. In order to be awarded a Certificate
of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report.
This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe that our current annual comprehensive financial
report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to
determine its eligibility for another certificate.

The preparation of this Annual Comprehensive Financial Report would not have been possible without the efficient and
dedicated service of the Finance Department. Thank you to our department heads for understanding the importance of the
financial status of this organization and as such, worked diligently to provide quality service within our financial means. It is to
their credit that the citizens of the City of Marysville can rely on this report as the definitive discussion of all City financial
operations.

Respectively Submitted:
Jennifer Ferrer-Santa Ines
Finance Director

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City of Marysville 2023 Introductory Section

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City of Marysville 2023 Introductory Section

CITY OF MARYSVILLE
ORGANIZATIONAL CHART

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City of Marysville 2023 Introductory Section
ELECTED OFFICIALS AS OF DECEMBER 31, 2023

MAYOR
Jon Nehring

Peter Condyles Mark James Tom King Michael Stevens

Position 1 Position 2 Position 3 Position 4

Kelly Richards Steve Mueller Kamille Norton

Position 5 Position 6 Council President
Position 7
ADMINISTRATIVE STAFF

Chief Administrative Officer Gloria Hirashima

City Attorney Jon Walker
Community Development Director Haylie Miller
Court Administrator Suzanne Elsner
Information Services Director Stephen Doherty
Finance Director Jennifer Ferrer-Santa Ines
Human Resource Director Megan Hodgson
Parks, Culture and Recreation Director Tara Mizell
Police Chief Erik Scairpon
Public Works Director Jeff Laycock

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 Office of the Washington State Auditor
Pat McCarthy

INDEPENDENT AUDITOR’S REPORT ON THE AUDIT OF THE

FINANCIAL STATEMENTS

Mayor and City Council

City of Marysville
Marysville, Washington

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS

Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund and the aggregate remaining fund information of the City of Marysville as of and for
the year then ended December 31, 2023, and the related notes to the financial statements, which collectively
comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities, the business-type activities, each
major fund and the aggregate remaining fund information of the City of Marysville, as of December 31, 2023, and
the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.

9
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going
concern for twelve months beyond the financial statement date, including any currently known information that
may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control. Misstatements are considered material if
there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment
made by a reasonable user based on the financial statements.

Performing an audit in accordance with GAAS and Government Auditing Standards includes the
following responsibilities:

• Exercise professional judgment and maintain professional skepticism throughout the audit;
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements;
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed;
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements;
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time;
and
• Communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit, significant audit findings, and certain internal control-related matters that we
identified during the audit.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and
analysis and required supplementary information as listed in the table of contents be presented to supplement the basic
financial statements. Such information is the responsibility of management and, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of
financial reporting for placing the basic financial statements in an appropriate operational, economic or historical
context. We have applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of inquiries of management

10
about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City’s basic financial statements. The combining and individual fund
financial statements and schedules are presented for purposes of additional analysis and are not a
required part of the basic financial statements. Such information is the responsibility of management and was
derived from and relates directly to the underlying accounting and other records used to prepare
the basic financial statements. This information has been subjected to auditing procedures applied in the
audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures
in accordance with auditing standards generally accepted in the United States of
America. In our opinion, the information is fairly stated, in all material respects, in relation
to the basic financial statements as a whole.

Other Information

The other information comprises the Introductory and Statistical Sections but does not include the basic
financial statements and our auditor’s report thereon. Management is responsible for the other
information included in the financial statements. Our opinions on the basic financial statements do not cover
the other information, and we do not express an opinion or provide any assurance thereon.

In connection with the audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If,
based on the work performed, we conclude that an uncorrected material misstatement of
the other information exists, we are required to describe it in our report.

OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS

In accordance with Government Auditing Standards, we will also issue our report dated September 30, 2024, on our
consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts and grant agreements and other matters. That report will be issued under separate
cover in the City’s Single Audit Report. The purpose of that report is to describe the scope of our testing of internal
control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal
control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.
Sincerely,

Pat McCarthy, State Auditor

Olympia, WA
September 30, 2024

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City of Marysville 2023 Financial Section

MANAGEMENT’S DISCUSSION AND ANALYSIS

The City of Marysville presents this discussion and analysis of its financial performance to provide an overview of the City’s financial
activities for fiscal year ended December 31, 2023. We encourage readers to consider the information presented here in
conjunction with the accompanying basic financial statements and the associated notes.

FINANCIAL HIGHLIGHTS

• The total assets and deferred outflows of the City of Marysville exceed its liabilities and deferred inflows at the close of
December 31, 2023 by approximately $533.6 million (net position) an increase of $46 million or 9.4%. Of this amount,
unrestricted net position totals $77.2 million and may be used to meet the City’s ongoing obligations to citizens and
creditors. Restricted net position totals $42.1 million and are subject to external restrictions on how it may be used.

• As of December 31, 2023, the City’s governmental activities reported a combined net position of $295.1 million, an
increase of $17.1 million from 2022. Approximately 8% of this amount, $22.1 million, is available for spending at the
City’s discretion.

• The City’s total long-term outstanding debt decreased by $8.6 million during calendar year 2023.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction the City of Marysville’s basic financial statements. The basic
statements include three components: 1) government-wide financial statements; 2) fund financial statements; and 3) notes to the
financial statements. This report contains other supplementary information in addition to the basic financial statements and
required information.

Government-Wide Financial Statements

The Government-Wide Financial Statements are designed to provide readers with a broad overview of the City’s finances, in a
manner similar to a private-sector business. The statements present the financial picture of the City from the economic resources
measurement focus using the accrual basis of accounting. They present governmental activities and business-type activities
separately. Additionally, certain eliminations have occurred in regards to interfund activity, payable and receivables.

The Statement of Net Position presents financial information on all of the City of Marysville’s assets, liabilities and deferred
inflows/outflow resources, with the difference reported as net position. Evaluating increases or decreases over time can serve as
a useful indicator of whether the financial position of the city is improving or declining.

The Statement of Activities present information on the net cost of each governmental and business-type function during the fiscal
year. The statement distinguishes revenue generated by specific functions from revenue provided by taxes and other sources not
related to a specific function. The revenue generated by the specific functions (charges for services, grants, and contributions) is
compared to the expenses for those functions to show the degree to which each function supports itself or relies on taxes and
other general funding sources for support. All activity on this statement is reported on the accrual basis of accounting requiring
the revenues to be reported when they are earned and expenses are reported when they are incurred, regardless of when cash
is received or disbursed.

In the Statement of Activities, we separate the City activities as follows:

Governmental Activities – most of the City’s basic services are reported in this category, including General Government,
Municipal Court, Police, Fire, Engineering, Parks/Recreation, Community Development, Street Maintenance, and General
Government Debt Service. Property and sales taxes, user fees, interest income, franchise fees, and state and federal shared
revenues and grants generally finance these activities.

Business-Type Activities – The City’s Waterworks Utility, Solid Waste, and Golf Course Funds are reported in this category.
These types of activities are funded by the City charging a fee to customers to cover all or most of the cost of certain services it
provides.

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City of Marysville 2023 Financial Section

Fund Financial Statements

The Fund Financial Statements include statements for each of the three categories of activities – governmental, business-type
and fiduciary. The governmental activities are prepared using the current financial resources measurement focus and modified
accrual basis of accounting. The business-type activities are prepared using the economic resources measurement focus and the
accrual basis of accounting. The fiduciary activities are custodial funds, and are prepared using the economic resources
measurement focus and full accrual. Reconciliations of the Fund Financial Statements to the Government-Wide Financial
Statements are provided to explain the differences created by the integrated approach.

The City, like other state and local governments, uses fund accounting to account for a number of funding sources and activities.
In general, fund accounting provides a mechanism for separately accounting for a variety of different funding sources, and enables
the City to demonstrate compliance with legal and/or contractual requirements that may be associated with these funds. Thus, the
accompanying fund financial statements present individual funds, organized into one of three groups based on the nature of the
activities and the purpose: Governmental, Proprietary or Fiduciary Funds. Note that the fund financial statements also include
“other governmental funds” on the governmental funds, and “other enterprise funds” on the proprietary funds. In addition, the fund
financial statements include a schedule that reconciles the fund financial statements to the Government-Wide Financial
Statements.

Governmental Funds – Most of the City’s basic services are reported in the governmental funds, which focus on how money
flows into and out of those funds and the balances left at year-end that are available for spending. These funds are reported using
an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be
converted to cash. The governmental fund statements provide a detailed short-term view of the City’s general government
operations and the basic services it provides to its citizens. Governmental fund information helps determine whether there are
more or fewer financial resources that can be spent in the near future to finance the City’s programs. The differences between the
results shown in the Governmental fund financial statements and those shown in the Government-Wide financial statements are
explained in a reconciliation schedule following each Governmental Fund financial statement.

Proprietary Funds – When the City charges customers for the service it provides, whether to outside City customers or to other
units of the City, these services are generally reported in proprietary funds. Proprietary funds include two components 1) enterprise
funds and 2) internal service funds. Proprietary funds are reported in the same manner that all activities are reported in the
Statement of Net Position and the Statement of Revenues, Expenses and Changes in Fund Net Position. In fact, the City’s
enterprise funds are the same as the business-type activities reported in the governmental-wide statement, but provide more detail
and additional information, such as cash flows, for proprietary funds. Internal service funds are used to report activities that provide
supplies and services for the City’s other programs and activities – such as fleet maintenance, facility maintenance, computer
maintenance and insurance funds. Because these funds largely benefit government rather than business-type functions, they are
reported with governmental activities in the government-wide financial statements.

Fiduciary Fund – The City is the trustee, or fiduciary for certain funds held on behalf of various third parties. The City’s fiduciary
activities are reported in a separate Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position.
These type of activities are excluded from the City’s other financial statements because the City cannot use these assets to finance
its operations. The City is responsible for ensuring that the assets reported in these funds are used for their intended purposes.

Notes to the Financial Statements

The notes to the financial statements provide information that is essential to a full understanding of the data provided in the
Government-Wide and Fund Financial Statements. The notes to the financial statements immediately follow the basic financial
statements in this report.

Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary
information (RSI) concerning the Schedule of Proportionate Share of the Net Pension Liability, the Schedule Employer
Contributions, and the funding progress for the Other Post-Employment Benefits. Also included as required supplementary
information are the Schedules Revenues, Expenditures and Changes in Fund Balances – Budget and Actual the general fund and
major special revenue funds.

Combining Statements
The combining statements for other governmental funds, internal service funds and custodial funds are presented immediately
following the required supplementary information.

Statistical Section
This section includes unaudited trend information and demographics.

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City of Marysville 2023 Financial Section
GOVERNMENT-WIDE FINANCIAL ANALYSIS

Statement of Net Position

Following is a condensed version of the government-wide statement of net position for 2023 compared to 2022:

Governmental Activities
During the 2023 fiscal year, the net position for governmental activities increased by $17.1 million or 6.2% from 2022. Key elements
of the increase are as follows:

• Capital assets, net of accumulated depreciation increased by $27.4 million. There was an increase of $3 million in land
and an increase in construction in progress of $13 million. The $13 million consists of $554K for Waterfront
Redevelopment, $2.5 million for Police Evidence Building, $2.6 for various Parks and Trails improvements and $7.4
million in multiple roads and sidewalk projects.
• Deferred outflows saw a decrease related primarily to pensions and debt refunding.
• Current liabilities reflect a decrease of $478,000 from normal fluctuations in accounts payable activity and OPEB liability.
• Long-term liabilities decreased by $3 million, a result of annual debt service payments, offset by adjustments to the net
pension and OPEB liability.
• The $3.1 million decrease in deferred inflows is related to pensions.

Business-Type Activities
Business-type activities of the City’s utilities and golf course realized a $28.8 million increase in net position. Key elements of the
increase are as follows:

• Total assets and deferred outflows increased by $20.8 million. This is comprised of a $5.7 million decrease in current
and other assets and, a $26.5 million increase in capital assets net of accumulated depreciation.
• Total liabilities and deferred inflows decreased $8 million as a result of annual debt service and change in OPEB liability.

Changes in Net Position

As discussed earlier, the Statement of Net Position provides a measure of the financial health of an entity at a specific date in time.
The Statement of Activities provides details on how net position changed from the beginning of the year to the end of the year and
whether net position increased or decreased. Therefore the Statement of Activities provides information as to whether the City as
a whole is better off financially by yearend as illustrated in the following table.

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City of Marysville 2023 Financial Section
Changes in Net Position
For Year Ended December 31, 2023
(in thousands)
GOVERNMENTAL BUSINESS-TYPE
ACTIVITIES ACTIVITIES TOTAL
2023 2022 2023 2022 2023 2022

Revenues
Program Revenue:
Charges for Services $ 18,952 $ 10,816 $ 61,646 $ 52,595 $ 80,597 $ 63,412
Operating Grants and Contributions 2,628 2,806 2,867 5,142 5,495 7,947
Capital Grants and Contributions 4,725 1,961 16,257 10,407 20,981 12,368
General Revenues:
Property Taxes 17,307 16,126 17,307 16,126
Sales Taxes 25,470 24,451 25,470 24,451
Other Taxes 13,038 13,990 13,038 13,990
Interest and Investment Earnings 2,655 (303) 2,362 (556) 5,016 (859)
Gain on sale of capital assets - - - -
Miscellaneous 225 741 225 740
Total Revenue 85,000 70,589 83,131 67,588 168,130 138,175
Program Expenses
Governmental Activities
Judicial 1,608 1,427 - - 1,608 1,427
General Government 8,655 8,192 - - 8,655 8,192
Public Safety 32,652 29,535 - - 32,652 29,535
Physical Environment 760 476 - - 760 476
Transportation 13,642 10,290 - - 13,642 10,290
Economic Environment 6,274 3,689 - - 6,274 3,689
Health 621 321 - - 621 321
Culture & Recreation 4,890 3,402 - - 4,890 3,402
Interest on Long-term Debt 2,429 2,553 - - 2,429 2,553
Business-Type Activities
Water/Sewer/Surface Water - - 33,559 31,601 33,559 31,601
Garbage & Solid Waste - - 15,188 13,960 15,188 13,960
Golf Course - - 1,972 1,537 1,972 1,537
Total Expenses 71,531 59,885 50,718 47,098 122,249 106,982

Increase in Net Position Before Transfers 13,469 10,703 32,413 20,490 45,882 31,193

Transfers 3,655 822 (3,655) (822) - -

Increase in Net Position 17,123 11,525 28,759 19,667 45,882 31,193

Net Position - Beginning of Year 278,039 262,084 209,692 190,022 487,731 452,107
Prior Period Adjustment - 129 - - - 129

Net Position - End of Year $ 295,163 $ 273,739 $ 238,451 $ 209,691 $ 533,613 $ 483,429

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City of Marysville 2023 Financial Section

As shown in the chart below, charges for services made up 48% of the total revenue received by the city as a whole in 2023.
Taxes made up 33% of the revenue sources, comprised of property taxes,sales taxes, and from business and other taxes. The
remaining sources of revenue is attributable to grants and other miscellaneous receipts.

2023 Citywide Sources of Revenue

Miscellaneous, 3%
Grants, 16%

Water/Sewer, 26%

Charges for Services,

48%
Solid Waste, 10%
Golf Course, 1%
Taxes, 33%
General Government,
11%

The following chart compares the functional expenses of the City. Public Safety, General Government, and the Water/Sewer Utility
Fund make up 62% of the total City expenses.

2023 Citywide Functional Expenses

Golf Course
2%
Solid Waste
12% Gen Gov Svcs
8%

Public Safety
27%

Water/Sewer/Surface
Water
27%

Other Govt Transportation

9% Parks & Recreation 11%
4%

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City of Marysville 2023 Financial Section

GOVERNMENTAL ACTIVITIES ANALYSIS

As shown in the Statement of Activities, the total cost of all governmental activities in 2023 was $71.3 million. Of this amount
$26.3 million was paid either by those who directly benefited from the programs or by other governments and organizations that
subsidized certain programs with grants and contributions. The net expense (total expenses less program revenues) of $45 million
was the cost of governmental activity services paid primarily by city taxpayers.

Revenues
Total governmental activity revenue (excluding transfers) increased by $ 14 million or 20%. The increase is primarily associated
with grants and contributions and charge for services. As the chart below depicts, the majority of governmental activity revenue,
66% is from taxes. Combined taxes were up $1 million, or 2% from 2022.

Sales tax increased by $1 million or 4.2% from 2022 as a result of increased sales from construction activity and non-retail financial
service categories. Property taxes increased $1 million or 6.2% a result of the increased assessed values and new construction.
Other taxes decreased 6.8% from 2022. This category includes utility taxes assessed on utilities, such as water, sewer, solid
waste, storm water, telephone, electric and natural gas for services sold within the city limits.

Governmental Activities - Revenues by Source

Interest & investment earnings Miscellaneous
3% 0%
Other taxes Charges for services
Business taxes 7% 22%
Operating grants &
9%
contributions
3%

Capital grants &

contributions
6%

Sales taxes
30%
Property taxes
20%

Expenses
Total governmental activity expenses increased by $11.7 million or 19.6%, compared to 2022. Highlights of the change in
governmental activity expenses are:

• Increase of $3.1 million in Public Safety is due to increase in staffing. Economic environment increased $2.5 million as a
result of capital purchases. The $3.4 million increase in Transportation is a result of the widening of State Ave. project
and overlays.

BUSINESS-TYPE ACTIVITIES ANALYSIS

Total expenses of business-type activities in 2023 were $50.7 million. Total program revenue covered $80.7 million resulting in
an increase in net position before transfers of $30.0 million.

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City of Marysville 2023 Financial Section
Revenues
Total revenues (excluding transfers) were up $15.5 million or 23% from the prior year. Charges for services increased by $9.1
million from 2022 due to a garbage and solid waste annexation and increase in recovery fees

Capital grants and contributions consist of infrastructure constructed by the developer and then turned over to the City. Business-
type capital contributions increased by $5.8 million.

In 2023, interest earnings on investments increased by $2.9 million. The increase is due to an increase and change in fair
market value and higher interest rate earnings in investments.

Expenses
Total business-type expenses saw an increase of $3.6 million or 7.65% from 2022. This increase is a result of higher
maintenance and operation costs.

FUND-LEVEL FINANCIAL ANALYSIS

As discussed earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Fund
The focus of the City’s governmental funds is to provide information on near-term revenues/financial resources and expenditures.
This information helps determine the City’s financing requirements in the near future. In particular, unassigned fund balance
measures the City’s net resources available for spending at the end of the fiscal year.

At the end of the current fiscal year the City’s governmental funds reported a combined ending fund balance of $42.9 million, a
increase of $3 million from 2022.

Revenues for the governmental funds in 2023 were $85.1 million, up $10.6 million or 14.2% from 2022 and expenditures were
$91.4 million up $10.1 million or 12.4%.

General Fund - The general fund is the main operating fund of the City through which all receipts and payments of ordinary City
operations are processed, unless legally required to be accounted for in another fund. Taxes are the major revenue source. At the
end of 2023, the fund balance of the General Fund was $25.5 million up $4.3 million from 2022. As a measure of fund’s liquidity,
the ending fund balance is 44% of the fund’s 2023 expenditures. As of December 31, 2023, total revenue was $60.6 million, an
increase of $2.9 million or 5.0% and total expenditures were $57.5 million. Of the $25.5 million fund balance, $25.4 is unassigned
and is available for discretionary spending with the remainder assigned restricted funds related to the Opioid Settlement total
$95,591. The City remains committed to managing costs and balancing current year revenue and expenses to ensure the financial
security of the City.

General Capital Improvements – The General Capital Improvements fund tracks the bond proceeds and expenditures associated
with the construction of the new city campus and other general capital facilities. The fund reported an increase of $71,346 of fund
balance at year end with the compleation of the Civic Campus.

Local Improvement District 71 Fund (LID71) – The LID 71 Fund accounts for assessments related to the LID and provides payment
to the Fiscal Agent for principal and interest on bonds issued in September 2014. The fund fluctuates based off the assessments
collected and the bonds called during the current year.

Other Governmental Funds – The City has eleven other special revenue funds, two other debt service funds and two non-major
capital project funds.

Combined, the Other Governmental Funds reported total assets of $17.9 million with a combined fund balance of
$16 million. Liabilities increased due to the addition of the Street Capital Improvement fund to this category. The cash and
investments decreased by $6.2 million. This decrease is a result from the Growth Management Act Real Estate Excise Tax funds
and the real estate market activity.

Revenue for the Other Government Funds in 2023 was $13.7 million, a decrease of $2.7 million over 2022, primarily due to
decreased collection of charge for services.

Expenditures for the Other Government Funds in 2023 were $19.7 million, an increase of $ 1.7 million primarily due to the addition
of the Street Capital Improvement fund to this category.

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City of Marysville 2023 Financial Section
Proprietary Funds
The City’s proprietary fund statements are similar regarding the information found in the government-wide financial statements,
but more detail is provided due to the assortment of activities. These funds include the Waterworks Utility and Solid Waste as the
major funds for the purpose of this report. As a result, all statements related to the enterprise funds are presented at the entity-
wide level. The Cedarcrest Golf Course is the only enterprise fund that is not considered a major fund. The City does have Internal
Service funds which are reported in the fund statements.

Waterworks Utility Fund – The Waterworks Utility Fund accounts for the operations, maintenance, and construction of activities
related to the supplying of water, sewer, and storm drainage/surface water services to the community. The fund reported total
assets and deferred outflow of $248.5 million, total liabilities and deferred inflows of $22.4 million, and net position of
$226.1 million, an increase of $27 million from the prior year. Key elements for the change include:

• The annual 2% rate increase in utilities.

• Decrease in outstanding bonds, notes and loans payable.
• Increase in net pension asset.

Solid Waste Fund – The Solid Waste Fund accounts for the operations and maintenance of providing solid waste services to
citizens within the city limits. The fund reported total assets and deferred outflows of $10.8 million, total liabilities and deferred
inflows of $1.3 million and net position of $9.5 million, an increase of 11.8% from the prior year.

Other Enterprise Funds – The City’s other enterprise fund includes only one activity and that is the Cedarcrest Golf Course. The
fund reported total assets and deferred outflows of $2.7 million, total liabilities and deferred inflows of
$ 0.2 million, and net position of a $ 2.4 million, an increase of $ 0.1 million. The increase is due to an increase in rounds played.

General Fund Budgetary Highlights

The 2023/2024 biennial budget was adopted in October 2022 by the City Council.

The General Fund budget for the fiscal year ending December 31, 2023, was designed to contain costs while meeting service-
level needs. The adopted budget for General Fund 001 totaled $66.1 million. Six amendments to the budget throughout the
year resulted in a revised expenditure budget totaling $72.8 million. The majority of the amendments were in capital outlay,
which included 2 million dollars for potential real estate options. Actual expenditures through year-end 2023, totaled $66.5
million, of which 59% were attributable to personnel costs.

The 2023 adopted revenue was $63.9 million. Year-end results exceeded the adopted budget by three percent, or $4.8 million.
Licenses and permits revenue were up 61% more than projections contributing $1.7 million in receipts. The charge for services
category, particularly with development service charges, which include engineering services and plan checking fees brought in
$1.1 million more than budget.

Staffing levels in the General Fund increased by 54.5 full-time equivalent positions. Most of the changes were in Police with 24
and Streets with 10 additional authorized positions.

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets

The City’s investment in capital assets, including construction in progress, for its governmental and business-type activities as of
December 31, 2023 amounts to $506.4 million (net of accumulated depreciation) an increase of $34 million from 2022.

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City of Marysville 2023 Financial Section
Capital Assets at Year End, Net of Depreciation
(in thousands)
GOVERNMENTAL BUSINESS-TYPE
ACTIVITIES ACTIVITIES TOTAL
2023 2022 2023 2022 2023 2022

Land $ 40,730 $ 37,678 $ 10,808 $ 10,600 $ 51,538 $ 48,278

Buildings 73,325 74,605 4,459 4,871 77,785 79,476
Infrastructure 136,227 138,318 - - 136,227 138,318
Improvements other than buildings 9,250 9,662 163,705 149,338 172,955 159,001
Machinery and Equipment 9,742 8,561 1,787 1,861 11,529 10,422
Construction in Progress 37,466 24,463 17,115 12,147 54,581 36,610
Intangibles/Leases/SBITA 1,393 252 359 65 1,753 318
$ 308,133 $ 293,538 $ 198,234 $ 178,883 $ 506,367 $ 472,421

Key changes to major capital assets during 2023 included the following:

• Increase of $14 million in Improvements other than buildings resulting from Water/Sewer projects.

• Increase of $18 million in Construction In Progress associated with the construction of large street projects, utility
improvements.

Additional information on the City’s capital assets can be found in Note 4 to the financial statements.

Long Term Debt

At the end of the fiscal year, the City had total debt outstanding of $88.1 million, a decrease of $8.7 million associated with the
annual debt service payments. Of this amount, $ 60.6 million is general obligation debt, $6.3 million in bond premiums and the
City also has $ 1.5 million is special assessment debt.

Long-Term Debt
(in thousands)

GOVERNMENTAL BUSINESS-TYPE
ACTIVITIES ACTIVITIES TOTAL
2023 2022 2023 2022 2023 2022

General Obligation Debt $ 60,575 $ 64,355 $ - $ - $ 60,575 $ 64,355

GO Bond premiums 6,256 6,620 - - 6,256 6,620
Revenue Bonds - - 17,840 21,010 17,840 21,010
Revenue Bonds Issuance Premiums - - 1,390 1,668 1,390 1,668
Public Work Trust Fund Loans - - 526 1,275 526 1,275
Special Assessment (w/government commitment) 1,525 1,815 - - 1,525 1,815
Total Long-Term Debt $ 68,356 $ 72,790 $ 19,756 $ 23,953 $ 88,113 $ 96,742

On August 18, 2020, Moody’s Investor Service assigned a rating of Aa2 to the City’s limited tax general obligation bonds.

Standards & Poor’s notified the city on April 15, 2021 of an upgrade in its rating of Water and Sewer Revenue Refunding Bonds-
2014 from AA to AA+.

20
City of Marysville 2023 Financial Section
Washington State statutes limit the amount of debt a governmental entity may issue to 7.5% of its total assessed valuation, subject
to 60% majority vote of qualified electors. Of the 7.5% limit, 2.5% is for general purposes, 2.5% for open space/park facilities, and
2.5% for utilities. Non-voted general purpose indebtedness is limited to 1.5% of assessed valuation and the combination of voted
and non-voted general purpose indebtedness cannot exceed 2.5% of assessed valuation.

The City’s assessed valuation for 2024 was $13.8 billion and the total amount of additional debt that the city may issue is $973
million. Remaining debt capacity is categorized as follows (in thousands):

Debt Capacity Available

Item Capacity
General $ 284,135
Open Space/Park Facilities 344,543
Utilities 344,543
Total $ 973,221

Additional information on the City’s long-term debt can be found in Note 8 to the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES

The City of Marysville Council voted not to increase the regular property tax levy by 1% allowed under initiative 747 in 2023.
Assessed values (AV) for 2023 are estimated to increase by 32% from the 2023 assessed values. The levy rate for 2024 is $0.83
per $ 1,000 of assessed valuation, a decrease of 349% from the prior year of $ 1.259. The decrease is due to the rise in assessed
value and the decision not to increase regular property tax levy by the allowed 1%.

Total General Fund revenues for 2024 are estimated to decrease by $7.4 million from 2023 before transfers and the total General
Fund expenditures are estimated to decrease by $6.1 million from 2023 before transfers. This decrease is due to the reduction of
EMS levy collection on behalf of the Regional Fire Authority. The City is continuing to review and prioritize the strategic investments
necessary to lay the groundwork for a prosperous future.

Requests for Information

The City’s financial statements are designed to provide users with a general overview of the City’s finances as well as to
demonstrate the City’s accountability to its citizens, investors, creditors, and other customers. If you have a question about the

21
City of Marysville 2023 Financial Section

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22
City of Marysville 2023 Financial Section
Statem ent of Net Position
Decem ber 31, 2023

Governm ental Business-type

Activities Activities Total
Assets
Current Assets
Cash and cash equivalents 17,001,061 14,130,417 31,131,478
Investments 28,515,071 29,439,818 57,954,889
Receivables (net) 8,855,913 10,198,644 19,054,557
Lease receivables 55,277 60,153 115,430
Special assessment receivable 2,957,705 - 2,957,705
Internal balances (1,224,959) 1,224,959 -
Inventories 344,148 154,674 498,822
Total Current Assets 56,504,216 55,208,665 111,712,881
Noncurrent Assets
Restricted investments - 5,393,495 5,393,495
Lease receivables 320,354 6,765 327,119
Investment in joint venture 1,625,931 - 1,625,931
Capital Assets:
Land 40,729,708 10,808,403 51,538,111
Depreciable assets (net) 229,937,815 170,310,645 400,248,460
Construction in progress 37,465,877 17,114,643 54,580,520
Net pension asset 10,840,464 1,779,046 12,619,510
Total Noncurrent Assets 320,920,149 205,412,997 526,333,146
Total Assets 377,424,365 260,621,662 638,046,027

Deferred Outflow s of Resources

Debt refunding 164,044 210,072 374,116
Related to pensions 8,838,287 1,523,255 10,361,542
Related to OPEB 85,068 - 85,068
Total Deferred Outflow s of Resources 9,087,399 1,733,327 10,820,726

Total Assets and Deferred Outflow s 386,511,764 262,354,989 648,866,753

The accompanying notes are an integral part of this statement Page 1 of 2

23
City of Marysville 2023 Financial Section
Statem ent of Net Position
Decem ber 31, 2023

Governm ental Business-type

Activities Activities Total
Liabilities
Current Liabilities
Accounts payable and accrued expenses 6,988,245 1,217,176 8,205,421
Unearned revenue 178,448 - 178,448
Other current liabilities 535,896 311,993 847,889
Current portion - bonds, notes and loans payable 3,488,162 4,134,278 7,622,440
Current portion - leases 44,281 12,272 56,553
Current Portion - Subscription Payables 36,507 11,103 47,610
Current portion - compensated absences 1,307,805 215,094 1,522,899
Current portion - total OPEB liability 181,636 - 181,636
Total Current Liabilities 12,760,980 5,901,916 18,662,896
Non-Current Liabilities
Bonds, notes and loans payable 64,868,319 15,621,859 80,490,178
Leases 349,726 17,113 366,839
Subscription Payables 959,237 290,395 1,249,632
Compensated absences 1,307,805 215,094 1,522,899
Net pension liability 2,243,012 849,199 3,092,211
Total OPEB liability 3,594,765 - 3,594,765
Total Noncurrent Liabilities 73,322,864 16,993,660 90,316,524
Total Liabilities 86,083,843 22,895,576 108,979,419

Deferred Inflow s of Resources

Related to leases 353,357 12,301 365,658
Related to pensions 4,911,357 996,401 5,907,758
Total Deferred Inflow s of Resources 5,264,714 1,008,702 6,273,416

Total Liabilities and Deferred Inflow s 91,348,557 23,904,278 115,252,835

Net Position
Net investment in capital assets 238,551,212 175,752,462 414,303,674
Restricted for:
Net pension assets 14,720,675 2,288,212 17,008,887
Debt service 3,348,422 5,393,495 8,741,917
Law enforcement 73,364 - 73,364
Opioid settlement 63,204 - 63,204
Capital 1,527,055 - 1,527,055
Tourism 414,995 - 414,995
Technology infrastructure 582,907 - 582,907
REET 5,821,114 - 5,821,114
Transportation Benefit District 7,731,424 - 7,731,424
Grants 135,280 - 135,280
Unrestricted 22,193,555 55,016,542 77,210,097
Total Net Position 295,163,207 238,450,711 533,613,918

The accompanying notes are an integral part of this statement Page 2 of 2

24
 City of Marysville 2023 Financial Section
Statement of Activities
For the Year Ended December 31, 2023

Program Revenues Net (Expense) Revenue and Changes in Net Position

Grants & Contributions
Charges for Governmental Business-Type
Function/Program Expenses Services Operating Capital Activities Activities Total
Governmental Activities:
Judicial 1,608,299 157,014 53,830 - (1,397,455) - (1,397,455)
General Government 8,654,810 2,228,627 (71,263) 55,345 (6,442,101) - (6,442,101)
Public Safety 32,652,054 443,630 707,341 - (31,501,081) - (31,501,081)
Physical Environment 759,989 - - - (759,989) - (759,989)
Transportation 13,641,915 5,803,527 1,434,183 3,557,859 (2,846,346) - (2,846,346)
Economic Environment 6,273,665 8,473,810 468,929 - 2,669,074 - 2,669,074
Health 621,112 - 19,311 - (601,801) - (601,801)
Culture & Recreation 4,890,277 1,845,078 15,878 1,111,440 (1,917,881) (1,917,881)
Interest on long-term debt 2,429,072 - - - (2,429,072) - (2,429,072)
Total Governmental Activities 71,531,193 18,951,686 2,628,209 4,724,644 (45,226,652) - (45,226,652)

Business-Type Activities:
Water/Sewer/Surface Water 33,559,478 43,284,094 2,867,212 16,256,832 - 28,848,660 28,848,660
Solid Waste 15,187,687 16,301,475 - - - 1,113,788 1,113,788
Golf Course 1,971,550 2,060,662 - - - 89,112 89,112
Total Business-Type Activities 50,718,715 61,646,231 2,867,212 16,256,832 - 30,051,560 30,051,560

Total Government 122,249,908 80,597,917 5,495,421 20,981,476 (45,226,652) 30,051,560 (15,175,092)

General Revenues
Property taxes 17,307,360 - 17,307,360
Sales taxes 25,470,382 - 25,470,382
Utility taxes 7,377,860 - 7,377,860
Excise taxes 4,184,683 - 4,184,683
Other taxes 1,475,438 - 1,475,438
Investment earnings (losses) 2,654,851 2,361,644 5,016,495
Miscellaneous 225,409 - 225,409

Transfers 3,654,501 (3,654,501) -

Total General Revenues and Transfers 62,350,484 (1,292,857) 61,057,627

Change in Net Position 17,123,832 28,758,703 45,882,535

Net Position - Beginning 278,039,375 209,692,008 487,731,383

Prior Period Adjustments - - -

Net Position - Ending 295,163,207 238,450,711 533,613,918

The accompanying notes are an integral part of this statement

25
City of Marysville 2023 Financial Section
Balance Sheet
Governmental Funds
December 31, 2023

Street Local Other Total

General School Capital Improvement Governmental Governmental
Fund Mitigation Fees Improvements District 71 Funds Funds
Assets
Cash and cash equivalents 7,420,850 1,770,071 771,862 21,275 5,239,765 15,223,823
Investments 14,272,923 - - 47,420 11,367,521 25,687,864
Receivables (net) 5,467,401 - 1,965,114 113,988 1,309,410 8,855,913
Due from other funds 200,778 - - - - 200,778
Lease Receivables 348,052 - - - 27,579 375,631
Special Assessment Receivable - - - 2,957,705 - 2,957,705
Total Assets 27,710,004 1,770,071 - 2,736,976 3,140,388 17,944,275 53,301,714

Liabilities
Accounts payable and accrued expenses 667,902 1,861,389 1,254,669 - 807,692 4,591,652
Due to other funds - - - - 1,021,434 1,021,434
Unearned revenue 64,460 - - 113,988 - 178,448
Deposits payable 97,566 - - - 82,955 180,521
Total Liabilities 829,928 1,861,389 - 1,254,669 113,988 1,912,081 5,972,055

Deferred Inflows of Resources

Property taxes 176,478 - - - - 176,478
Special assessments - - - 2,957,705 - 2,957,705
Other unavailable revenue 625,789 - - - - 625,789
Leases 326,671 - - - 26,686 353,357
Court receivables 269,917 - - - - 269,917
Total Deferred Inflows of Resources 1,398,855 - - 2,957,705 26,686 4,383,246

Fund Balances
Restricted for:
Law Enforcement - - - - 73,364 73,364
Opioid Settlement 95,591 - - - - 95,591
Tourism - - - - 414,995 414,995
Technology Infrastructure - - - - 582,907 582,907
REET - - - - 5,821,114 5,821,114
Transportation Benefit District - - - - 7,731,424 7,731,424
Debt Service - - - 68,695 677,397 746,092
Capital Outlay - - 1,482,307 - 44,748 1,527,055
Grants - - - - 135,280 135,280
Committed to: - -
Law Enforcement - - - - 45,272 45,272
Assigned to: - -
Street Construction & Maintenance - - - - 883,430 883,430
Debt Service - - - - 166,570 166,570
Unassigned 25,385,630 (91,318) - - (570,993) 24,723,319
Total Fund Balances 25,481,221 (91,318) 1,482,307 68,695 16,005,508 42,946,413

Total Liabilities, Deferred Inflows

of Resources, and Fund Balances 27,710,004 1,770,071 2,736,976 3,140,388 17,944,275 53,301,714

The accompanying notes are an integral part of this statement

26
City of Marysville 2023 Financial Section
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
December 31, 2023

Total Governmental Fund Balances 42,946,413

Amounts reported for governmental activities in the

statement of net position are different because:

Capital assets used in governmental activities are not current financial

resources and therefore are not reported in the funds (exclusive of internal
service funds' capital assets).
Land 40,729,708
Depreciable assets (including infrastructure) 267,496,661
Construction in progress 37,465,877
Less accumulated depreciation (47,811,821) 297,880,425

The investment in joint ventures (Sno911) is not reported at the fund financial
reporting level but is reported on the government-wide statement of net position.
1,625,931

Other long-term assets are not available to pay for current-period expenditures
and therefore are deferred in the funds - property taxes, special assessments,
grants and fines.
4,029,889

Deferred inflows and outflows for pensions reported on the government-wide

statement of position but not reported on the governmental fund balance sheet. 3,758,315

Deferred outflows for OPEB reported on the government-wide statement of net

position but not reported on the government balance sheet. 85,068

The net pension assets are not available to retire current year expenditures,
therefore they are not reported in the funds but are reported in the government-
wide statement of net position. 10,271,095

The internal service fund is used by management to charge the costs of the
equipment rental to individual funds. The assets and liabilities of the internal
service funds are included in governmental activities column on the government-
wide statement of net position.
12,116,971

The internal service fund chargeback to enterprise funds is not reported in the
governmental funds, but is reported on the government-wide financial
statements. (404,303)

Liabilities not due and payable in the current period and therefore are not
reported in the governmental fund balance sheets but are reported on the
government-wide statement of net position (excludes internal service funds).
General obligation/special assessment bonds payable (68,356,481)
Leases payable (200,266)
SBITA payable (221,945)
Deferred outflows - bond related 164,044
Accrued interest payable (355,375)
Other postemployment benefits payable (3,776,401)
Net pension liability payable (1,971,234)
Compensated absences payable (2,428,939)
(77,146,597)

Net Position Of Governmental Activities 295,163,207

The accompanying notes are an integral part of this statement

27
City of Marysville 2023 Financial Section
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the Year Ended December 31, 2023

Street Local Other Total

General School Capital Improvement Governmental Governmental
Fund Mitigation Fees Improvements District 71 Funds Funds
Revenues
Taxes 46,016,282 - - - 8,410,322 54,426,604
Licenses and permits 4,401,970 - - - - 4,401,970
Intergovernmental 2,106,472 - 3,610,007 - 2,143,212 7,859,691
Charges for services 5,939,070 2,915,925 3,946,731 - 1,261,276 14,063,002
Fines and forfeitures 326,716 - - - - 326,716
Investment earnings 1,485,274 - - 882 849,639 2,335,795
Rent and leases 171,275 - - - 26,686 197,961
Special assessments - - - 382,103 - 382,103
Miscellaneous 120,814 - 13 178 972,251 1,093,256
Total Revenues 60,567,873 2,915,925 7,556,751 383,163 13,663,386 85,087,098

Expenditures
Current:
Judicial 1,726,328 - - - - 1,726,328
General government 6,299,789 - - - 26,763 6,326,552
Public safety 33,610,100 - - - 49,489 33,659,589
Physical environment 916,817 - - - - 916,817
Transportation 6,439,656 - - - 4,212,298 10,651,954
Health & human services 621,112 - - - - 621,112
Economic environment 3,205,231 3,007,243 - - 374,232 6,586,706
Culture & recreation 4,129,114 - - - 22,364 4,151,478
Capital Outlay:
General government 400,155 - - - - 400,155
Transportation - - 10,807,407 - 4,284,350 15,091,757
Economic environment - - - - 477,445 477,445
Culture & recreation - - - - 3,855,201 3,855,201
Debt Service:
Principal 169,028 - - 290,000 3,780,000 4,239,028
Interest and fiscal charges 3,969 - - 75,673 2,629,805 2,709,447
Other - - - 3,262 - 3,262
Total Expenditures 57,521,299 3,007,243 10,807,407 368,935 19,711,947 91,416,831
Excess (Deficiency) of Revenues
Over (Under) Expenditures 3,046,574 (91,318) (3,250,656) 14,228 (6,048,561) (6,329,733)

Other Financing Sources (Uses)

Proceeds from sale of capital assets 1,175,000 - - - - 1,175,000
Insurance recoveries 163,064 - - - - 163,064
SBITA 337,184 - - - - 337,184
Transfers in 5,340,680 - 6,876,459 - 13,631,744 25,848,883
Transfers out (9,143,296) - (1,938,419) - (11,112,667) (22,194,382)
Total Other Financing Sources (Uses) (2,127,368) - 4,938,040 - 2,519,077 5,329,749
Net Change in Fund Balances 919,206 (91,318) 1,687,384 14,228 (3,529,484) (999,984)

Fund Balances Beginning of Year 24,562,015 - (205,077) 54,467 19,534,992 43,946,397

Fund Balances End of Year 25,481,221 (91,318) 1,482,307 68,695 16,005,508 42,946,413

The accompanying notes are an integral part of this statement

28
City of Marysville 2023 Financial Section
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
For the Year Ended December 31, 2023

Net Changes In Fund Balances - Total Governmental Funds (999,984)

Amounts reported for governmental activities in the

statement of activities are different because:

Governmental funds report capital outlays as expenditures on the governmental fund type
operating statement. However, in the government-wide statement of activities, the cost of
those assets is allocated over their estimated useful lives as depreciation expense. This is
the amount by which capitalized capital outlay exceeded depreciation expense in the current
period.
Depreciation expense (4,334,150)
Capital outlay 17,667,504
Capital contributions - 13,333,354

The book value of capital assets sold are reported on the government-wide statement of
activities but not reported in the governmental fund's operating statement. (699,610)

Revenues in the government-wide statement of activities that do not provide current

financial resources are not reported as revenues in the funds.
Property taxes, special assessments, grants and court receivables:
Deferred as of 12/31/23 4,029,889
Deferred as of 12/31/22 (5,912,503) (1,882,614)

Governmental funds do not report the change in the investment in the joint venture, but the
change is reported on the government-wide statement of activity. 478,144

Elimination of transfers between governmental funds:

Transfers in (22,194,382)
Transfers out 22,194,382 -

Internal service funds are used by management to charge the cost equipment,
maintenance of facilities, computer costs and insurance to individual funds. The net
revenue (expense) of internal service funds is reported with the governmental activities. 994,950

The internal service fund chargeback to enterprise funds is not reported in the
governmental funds, but is reported on the government-wide financial statements. (656,960)

Repayment of long-term debt principal is an expenditure in the governmental funds, but the
repayment reduces long-term liabilities in the government-wide statement of net position. 4,239,028

Amortization of bond-related items is reported in the government-wide statement of

activities, but does not require the use of current financial resources and therefore is not
reported in the governmental funds. 342,711

Issuance of debt, including leases, is reported as an other financing source in the

governmental funds, but is reported as a liability on the government-wide financial
statements. (337,184)
Other postemployment expenses are reported in the government-wide statement of
activities, but do not require the use of current financial resources and therefore are not
reported as expenditures in governmental funds. (313,902)

Pension expenses and related intergovernmental revenues (LEOFF 2 special funding) are
reported in the statement of activities, but do not require the use of current financial
resources and are therefore not reported as expenditures in governmental funds. 2,939,386

A one-month portion of interest on long-term debt is accrued in the governmental-activities

but not on the governmental funds statement of revenues expenditures and changes and
fund balance.
(59,074)

Compensated absences are reported in the government-wide statement of activities, but do

not require the use of current financial resources and therefore are not reported as
expenditures in governmental funds.
Liability as of 12/31/23 (2,428,939)
Liability as of 12/31/22 2,174,526 (254,413)

Change In Net Position of Governmental Activities 17,123,832

The accompanying notes are an integral part of this statement

29
City of Marysville 2023 Financial Section
Statement of Net Position
Proprietary Funds
December 31, 2023

Business-type Activities -
Enterprise Funds
Governmental
Nonmajor Total Activities -
Waterworks Solid Enterprise Enterprise Internal Service
Utility Waste Golf Funds Fund
Assets
Current Assets:
Cash and cash equivalents 11,320,334 2,483,493 326,590 14,130,417 1,777,238
Investments 25,201,582 3,669,631 568,605 29,439,818 2,827,207
Receivables (net) 7,072,288 3,126,356 - 10,198,644 -
Lease receivables 5,716 - 54,437 60,153 -
Interfund loan receivable - 820,656 - 820,656 -
Inventories 78,325 - 76,349 154,674 344,148
Total Current Assets 43,678,245 10,100,136 1,025,981 54,804,362 4,948,593

Noncurrent Assets:
Investments - Restricted 5,393,495 - - 5,393,495 -
Lease receivables 6,765 - - 6,765 -
Capital assets:
Land 9,990,391 - 818,012 10,808,403 -
Depreciable assets (net) 169,352,568 148,334 809,743 170,310,645 10,252,975
Construction in progress 17,114,643 - - 17,114,643 -
Net pension asset 1,458,904 320,142 - 1,779,046 569,369
Total Noncurrent Assets 203,316,766 468,476 1,627,755 205,412,997 10,822,344

TOTAL ASSETS 246,995,011 10,568,612 2,653,736 260,217,359 15,770,937

Deferred Outflows of Resources

Debt refunding 210,072 - - 210,072 -
Related to pensions 1,249,143 274,112 - 1,523,255 487,505
TOTAL DEFERRED OUTFLOWS OF RESOURCES 1,459,215 274,112 - 1,733,327 487,505

TOTAL ASSETS AND DEFERRED OUTFLOWS 248,454,226 10,842,724 2,653,736 261,950,686 16,258,442
Liabilities
Current Liabilities:
Accounts payable and accrued expenses 259,800 871,127 86,249 1,217,176 2,396,593
Accrued interest payable 130,295 - - 130,295 -
Compensated absences payable 188,214 26,880 - 215,094 93,335
Bonds, notes, loans payable 4,134,278 - - 4,134,278 -
Leases 12,272 - - 12,272 44,281
Subscription Payable 9,954 1,149 11,103 36,507
Deposits payable 28,900 - 3,500 32,400 -
Other current liabilities 23,254 - 126,044 149,298 -
Total Current Liabilities 4,786,967 899,156 215,793 5,901,916 2,570,716

Noncurrent Liabilities
Bonds, notes, loans payable 15,621,859 - - 15,621,859 -
Leases 17,113 - - 17,113 149,460
Subscription Payable 228,480 61,915 290,395 737,292
Net pension liability 696,384 152,815 - 849,199 271,778
Compensated absences 188,214 26,880 - 215,094 93,335
Total Noncurrent Liabilities 16,752,050 241,610 - 16,993,660 1,251,865
TOTAL LIABILITIES 21,539,017 1,140,766 215,793 22,895,576 3,822,581

Deferred Inflows of Resources

Related to leases 12,301 - - 12,301 -
Related to pensions 817,097 179,304 - 996,401 318,890
TOTAL DEFERRED INFLOWS OF RESOURCES 829,398 179,304 - 1,008,702 318,890

TOTAL LIABILITIES AND DEFERRED INFLOWS 22,368,415 1,320,070 215,793 23,904,278 4,141,471

Net Position
Net investment in capital assets 174,039,437 85,270 1,627,755 175,752,462 9,285,435
Restricted for net pension assets 1,876,445 411,767 - 2,288,212 732,324
Restricted for debt service 5,393,495 - - 5,393,495 -
Unrestricted 44,776,434 9,025,617 810,188 54,612,239 2,099,212
TOTAL NET POSITION 226,085,811 9,522,654 2,437,943 238,046,408 12,116,971

The net effect of activities allocated from internal service funds is presented as an internal balance
on the statement of net position 404,303

Adjusted Total Net Position 238,450,711

The accompanying notes are an integral part of this statement

30
City of Marysville 2023 Financial Section

Statement of Revenues, Expenses and Changes in Fund Net Position

Proprietary Funds
For the Year Ended December 31, 2023

Business-type Activities -
Enterprise Funds
Governmental
Nonmajor Total Activities -
Waterworks Solid Enterprise Enterprise Internal Service
Utility Waste Golf Funds Fund
Operating Revenues
Charges for services:
Water/Sewer/Surface Water 35,013,602 - - 35,013,602 -
Golf - - 1,938,523 1,938,523 -
Garbage & Solid Waste - 16,304,977 - 16,304,977 -
Fleet Maintenance - - - - 4,428,801
Facilities Maintenance - - - - 996,387
Information Services - - - - 2,771,344
Liability Insurance - - - - 1,309,515
Medical Insurance - - - - 6,628,855
Total Operating Revenues 35,013,602 16,304,977 1,938,523 53,257,102 16,134,902

Operating Expenses
Maintenance and operations 20,806,581 13,804,922 1,921,185 36,532,688 13,597,036
Taxes 3,702,567 1,715,911 24,760 5,443,238 -
Depreciation 7,940,999 21,657 34,208 7,996,864 1,752,190
Total Operating Expenses 32,450,147 15,542,490 1,980,153 49,972,790 15,349,226

Operating Income (loss) 2,563,455 762,487 (41,630) 3,284,312 785,676

Non-Operating Revenues (Expenses)

Investment earnings 2,076,710 248,635 36,299 2,361,644 135,525
Connection and capital surcharges 8,127,844 - - 8,127,844 -
Miscellaneous nonoperating revenue 142,648 (3,502) 122,139 261,285 -
Interest expense (422,243) - - (422,243) (6,521)
Non-operating grants 2,867,212 - - 2,867,212 40,080
Insurance recoveries - - - - 40,190
Gain (loss) on disposal of capital assets (240,063) - - (240,063) -
Non capitalized repairs and improvements (740,579) - - (740,579) -
Total Non-Operating Revenues (Expenses) 11,811,529 245,133 158,438 12,215,100 209,274

Income (Loss) Before Contributions and Transfers 14,374,984 1,007,620 116,808 15,499,412 994,950

Capital contributions 16,256,832 - - 16,256,832 -

Transfers In - - - - -
Transfers Out (3,654,501) - - (3,654,501) -

Change in Net Position 26,977,315 1,007,620 116,808 28,101,743 994,950

Net Position Beginning of Year 199,108,496 8,515,034 2,321,135 209,944,665 11,122,021

Net Position End of Year 226,085,811 9,522,654 2,437,943 238,046,408 12,116,971

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 656,960

Adjusted Change in Net Position 28,758,703

The accompanying notes are an integral part of this statement

31
City of Marysville 2023 Financial Section
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2023

Business-type Activities -
Enterprise Funds
Governmental
Nonmajor Total Activities -
Waterworks Solid Enterprise Enterprise Internal Service
Utility Waste Golf Funds Fund

Cash Flows from Operating Activities

Cash received from customers 44,550,440 16,034,262 1,960,287 62,544,989 -
Cash received from interfund charges - - - - 16,134,902
Cash received from other sources - - 69,057 69,057 -
Cash payments to suppliers for goods and services (18,216,546) (16,205,030) (1,933,259) (36,354,835) (10,328,109)
Cash payments to employees for services (7,067,729) 1,923,863 - (5,143,866) (3,370,175)
Cash paid for taxes (3,702,402) (1,715,911) (24,760) (5,443,073) -
Net Cash Provided by (Used in) Operating Activities 15,563,763 37,184 71,325 15,672,272 2,436,618

Cash Flows from Non-Capital financing activities

Proceeds from federal, state and local grants 312,821 - - 312,821 40,080
Interfund loan payments - 410,578 - 410,578 -
Insurance recoveries - - - - 40,190
Transfer out to other funds (3,654,501) - - (3,654,501) -
Net Cash Flows from non-Capital and related financing activities (3,341,680) 410,578 - (2,931,102) 80,270

Cash Flows from Capital and Related

Financing Activities
Acquisition/construction - capital (10,948,323) (91,932) (23,631) (11,063,886) (2,665,821)
Payments on debt principal (3,925,600) - - (3,925,600) (80,102)
Payments on debt interest (700,310) - - (700,310) (6,521)
Proceeds from federal, state and local grants 2,554,391 - - 2,554,391 -
Net Cash Provided by (Used in) Capital and Related
Financing Activities (13,019,842) (91,932) (23,631) (13,135,405) (2,752,444)

Cash Flows from Investing Activities

Purchase of investments (8,010,540) (1,181,211) (176,211) (9,367,962) (654,227)
Proceeds from sale of investment securities - - - - (73,136)
Interest on investments 2,076,710 248,635 36,299 2,361,644 135,525
Net Cash Provided by (Used in) Investing Activities (5,933,830) (932,576) (139,912) (7,006,318) (591,838)

Net Increase (Decrease) in Cash

and Cash Equivalents (6,731,589) (576,746) (92,218) (7,400,553) (827,394)

Cash and Cash Equivalents Beginning of Year 18,051,923 3,060,239 418,808 21,530,970 2,604,632

Cash and Cash Equivalents End of Year 11,320,334 2,483,493 326,590 14,130,417 1,777,238

The accompanying notes are an integral part of this statement Page 1 of 2

32
City of Marysville 2023 Financial Section
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2023
(continued)

Business-type Activities -
Enterprise Funds
Governmental
Nonmajor Total Activities -
Waterworks Solid Enterprise Enterprise Internal Service
Utility Waste Golf Funds Fund

Reconciliation of Operating (Loss) to Net Cash

Provided by (Used in) Operating Activities

Operating Income (Loss) 2,563,455 762,487 (41,630) 3,284,312 785,676

Adjustments:
Depreciation 7,940,999 21,657 34,208 7,996,864 1,752,190
Other nonoperating receipts 8,270,492 (3,502) 69,057 8,336,047 -
Other nonoperating payments (740,579) - - (740,579) -

Changes in assets and liabilities

(Increase)/Decrease in inventories (19,051) - (9,947) (28,998) (34,712)
(Increase)/Decrease in receivables 1,263,646 (267,213) - 996,433 -
(Increase)/Decrease in lease receivables and DI 400 - - 400 -
Increase/(Decrease) in net pension liability, DO, DI (762,232) (148,723) - (910,955) (265,256)
Increase/(Decrease) in accounts payable (2,975,354) (336,112) (2,127) (3,313,593) 243,001
Increase/(Decrease) other current liabilities 21,987 8,590 21,764 52,341 (44,281)
Net Cash Provided by (Used in) Operating Activities 15,563,763 37,184 71,325 15,672,272 2,436,618

Schedule of Non-Cash Capital and Related

Financing Activities
Capital assets contributed by private developers 16,256,832 - - 16,256,832 -
Capital assets acquired through lease financing (29,524) - - (29,524) -
Total Non-Cash Activities 16,227,308 - - 16,227,308 -

The accompanying notes are an integral part of this statement Page 2 of 2

33
City of Marysville 2023 Financial Section

Statement of Fiduciary Net Position

Fiduciary Funds
December 31, 2023

Custodial
Funds
Assets
Cash and cash equivalents 73,387
Total Assets 73,387

Liabilities
Accounts payable 2,167
Total Liabilities 2,167

Total Net Position - Restricted for Other Governments 71,220

The accompanying notes are an integral part of this statement

34
City of Marysville 2023 Financial Section

Statement of Changes in Fiduciary Net Position

Fiduciary Funds
For the Year Ended December 31, 2023

Custodial
Funds

Additions:
Drug seizures 15,021
State court fees collected 361,068
Leasehold taxes 5,310
Weapons permitting 13,702
Building advisory 10,605
Fingerprinting fees collected for other agencies 4,134
Other fees collected for other agencies 875
Total Additions 410,715

Deductions:
Drug seizures 347
State court fees remitted 361,068
Leasehold taxes 5,310
Weapons permitting 14,103
Building advisory 10,740
Fingerprinting fees collected for other agencies 4,200
Other fees collected for other agencies 875
Total Deductions 396,643

Net increase (decrease) in fiduciary net position 14,072

Net Position Beginning of Year 57,148

Net Position End of Year 71,220

The accompanying notes are an integral part of this statement

35
City of Marysville 2023 Financial Section

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36
City of Marysville 2023 Financial Section

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2023

NOTE 1 - Summary of Significant Accounting Policies ............................................................................................. 38

NOTE 2 – Deposits and Investments ........................................................................................................................ 44

NOTE 3 – Property Taxes ........................................................................................................................................ 46

NOTE 4 – Capital Assets and Depreciation .............................................................................................................. 47

NOTE 5 – Pension Plans.......................................................................................................................................... 51

NOTE 6 – Defined Benefit Other Postemployment Benefit (OPEB) Plan .................................................................. 58

NOTE 7 – Risk Management .................................................................................................................................... 60

NOTE 8 – Long-Term Debt....................................................................................................................................... 62

NOTE 9 – Leases………………………………………………………………………………………………….………….....65

NOTE 10 – Subscription-Based Information Technology Arrangement (SBITA) ....................................................... 66

NOTE 11 – Changes in Long Term Liabilities ........................................................................................................... 68

NOTE 12 – Receivables ........................................................................................................................................... 69

NOTE 13 – Contingencies and Litigation .................................................................................................................. 69

NOTE 14 – Interfund Transactions and Balances ..................................................................................................... 69

NOTE 15 – Joint Ventures and Related Organizations ............................................................................................. 70

NOTE 16 – Pollution Remediation ............................................................................................................................ 72

NOTE 17 – Accounting and Reporting Changes……………………………………………………………………………..72

37
City of Marysville 2023 Financial Section

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of the City of Marysville have been prepared in conformity with generally accepted accounting principles (GAAP) as
applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing
governmental accounting and financial reporting principles. The significant accounting policies are described below.

A. Reporting Entity

The City of Marysville was incorporated on March 20, 1891 and operates under the laws of the State of Washington applicable to a non-charter
code city with a mayor-council form of government. The accounting and reporting policies of the city conform to generally accepted accounting
principles (GAAP) of local governments.

The city is a general-purpose government and provides public safety, road improvement, parks and recreation, judicial administration and general
governmental services. In addition, the city owns and operates a water/sewer/surface water utility, a golf course and provides garbage collection
and recycling services. The accompanying statements include all funds, agencies and boards controlled by or dependent on the city. The
financial statements include as well the assets and liabilities of all funds for which the city has a custodial or trust responsibility. The financial
statements do not include the financial position or results of operations of the Marysville School District, which is a separate municipal corporation.

B. Government-Wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-
fiduciary activities of the primary government. For the most part, the effect of interfund activity has been eliminated from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues.
Direct expenses are those that are clearly identifiable with a specific function or segment. Our policy is to allocate indirect costs to a specific
function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services,
or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital
requirements or a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as
general revenues.

Separate fund financial statements are provided for governmental funds, proprietary funds, and fiduciary funds even though the latter are excluded
from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as
separate columns in the fund financial statements.

C. Measurement Focus, Basis of Accounting, and Financial Statement Preparation

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting,
as are the proprietary funds. The fiduciary funds presented are custodial funds, use the accrual basis of accounting and use the economic
resources measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the
timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are
recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of
accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they
are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the city considers
revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when
a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences
and claims and judgments, are recorded only when payment is due.

Under modified accrual basis of accounting, property taxes, sales taxes, utility taxes and interest associated within the current period are all
considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special
assessment receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Grant

38
City of Marysville 2023 Financial Section
revenue is recognized for cost reimbursement grants when the expenditure occurs in accordance with GAAP. When the expenditure is incurred,
grant revenue is considered to have been earned and therefore available and recognized as revenue. All other revenue items are considered to
be measurable and available only when cash is received by the city.

The city reports the following major government funds:

• The General Fund is the city’s operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund. The general fund includes police, parks, culture and
recreation, parks maintenance, community development, courts, executive, finance, human resources, and legal.
• The Street Capital Improvement fund accounts for the construction and improvements to roadway infrastructure.
• The School Mitigation fund accounts for collected developer fees to ensure adequate school facilities are available to serve
new growth and development.
• The Local Improvement District (LID) #71 accounts for assessments related to the LID and provides payment to the fiscal
agent for principal and interest on bonds issued in September 2014.

The city reports the following major enterprise funds:

• The Waterworks Utility operating fund accounts for the distribution and filtration of water, the collection and treatment of
wastewater, as well as the collection and treatment of sewage, and the design and construction of all water/sewer/surface
water capital projects. Also included in the waterworks utility fund are all debt service payments.
• The Solid Waste fund accounts for the collection of commercial and residential solid waste as well as curb side recycling
program.

Additionally, the government reports the following fund types:

• Special revenue funds account for the proceeds of specific revenue sources to finance specific
activities as required by law or administrative regulations.
• Debt service funds account for the accumulation of resources and the payment of general long-term
debt principal and interest from governmental resources and special assessment bond principal and
interest from special assessment levies when the government is obligated in some manner for the
payment.
• Capital project funds account for the design and construction of city infrastructure and city parks and recreational facilities
and other governmental facilities.
• Internal service funds account for the city’s fleet management, facility services, information
services, unemployment insurance and liability insurance provided to other departments on a cost reimbursement basis.
• Custodial funds account for the funds received for drug seizure, weapon permits and other county mitigation fees.

As a general rule, the effect of interfund activity has been eliminated for the government-wide financial statements. Exceptions to this general
rule are charges between the government’s water and sewer functions and various other functions of the government. Elimination of these
charges would distort the direct costs and program revenues reported for the various functions concerned. The city has allocated certain indirect
costs that are included in the program expense reported for individual functions and activities.

Amounts reported as program revenues include 1) charges to customers, 2) operating grants and contributions and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than program revenues.
General revenues include all taxes.

The proprietary statements are reported using the economic resources measurement focus and full-accrual basis of accounting. Revenues are
recorded when earned and expenses are recorded when liability is incurred regardless of the timing of cash flows. Proprietary funds distinguish
operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and
producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the city
are the Waterworks Utility Fund, Solid Waste Fund, Golf Fund, and the internal service fund charges to customers for sales and services.
Operating expenses for the enterprise funds and internal service funds include the cost of sales and services, administrative expenses and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

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When both restricted and unrestricted resources are available to use, it is the City of Marysville’s policy to use restricted resources first, and then
unrestricted resources as needed.

D. Budgetary Information

Scope of Budget
In accordance with the Revised Code of Washington (RCW) 35A.34, the City budgets for all operating funds. These budgets are prepared in
accordance with generally accepted accounting principles. Budgetary accounts are integrated in fund ledgers for all budgeted funds, but the
financial statements include budgetary comparisons for budgeted governmental funds only.

The budget, as adopted, constitutes the legal authority for expenditures. Appropriations are authorized for two years, but must be reviewed by
the City Council at the midpoint of the biennial period. The appropriated budgets are adopted at the fund level where expenditures may not
exceed appropriations. Subsidiary revenue and expenditure ledgers are used to compare the budgeted amounts with actual revenues and
expenditures. As a management control device, the subsidiary ledgers monitor expenditures for individual functions and activities by object class.
Any unexpended appropriation balances lapse at the end of the biennium.

Amending the Budget

The City Administrative Officer is authorized to transfer appropriations between programs within any fund; however, any revisions that alter the
total expenditures of a fund must be approved by the City Council. When City Council determines that it is in the best interest of the City to
increase or decrease the appropriation for a particular fund, it may do so by ordinance approved by a simple majority.

The financial statements contain the original and final budget information. The original budget is the first complete appropriated budget. The
final budget is the original budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other legally authorized
`changes applicable for the fiscal year.

As of December 31, 2023, the following funds reported deficits in fund balance or net position:

Fund 116 – School Mitigation Fees has a deficit fund balance of $91,318 due to payment made in period 13 and cash receipted in
2024.

Fund 650 – Intergovernment has a deficit fund balance of $355 due to payment made in period 13 and cash receipted in 2024.

E. Assets, Liabilities, Fund Balances and Net Position

Cash and Cash Equivalents

The City of Marysville invests all short-term cash surpluses. Monies from all City funds are internally pooled for investment purposes. The interest
earned from the pooled investments is prorated to individual funds at the end of each month based on the cash balance in each fund at the end
of the month. The City considers all highly-liquid assets, including investment in the Washington State’s Local Government Investment Pool, and
short-term investments with a maturity of three months or less when purchased, to be cash equivalents.

Investments (see note 2 – Deposits and Investments)

Investments are recorded at fair value in accordance with GAAP, Fair Value Measurement and Application. Accordingly, the change in fair value
of investments is recognized as an increase or decrease to investment assets and investment income.

Receivables (see note 11 – Receivables)

The City of Marysville recognizes receivables in its various funds based on the account basis required for that fund. These receivables include
the following:
1. Property Taxes (see note 4 – Property Taxes) - Uncollected property taxes levied for the current year are reported as receivables at
year-end. When property taxes become three years delinquent, the county is required by state statute to foreclose on the property.
Historically, all taxes have been collected; therefore, no allowance for uncollectible taxes is recorded.
2. Sales Tax - There is a running two-month lag in remittance of sales tax to the city. Sales taxes collected in November and December
are not remitted by the state to the city until January and February of the following year and are reported as receivables at year-end.
There is no allowance for uncollectible sales taxes because all sales taxes are required by law to be collected by businesses at the
time of sale and remitted to the state.
3. Other Taxes - Electric, telephone, natural gas taxes remitted after the end of the year for activity occurring during the prior year are
reported as receivables at year-end.

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4. Interest Receivable - Interest receivable consists of amounts earned, but not received, on investments.
5. Accounts Receivable - Customer accounts receivable consist of amounts owed by private individuals or organization for goods and
services provided. Unbilled services provided to utility customers are estimated at year-end and included in accounts receivable.

Amounts Due to and from Other Funds; Interfund Loans and Advances Receivable
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either
“interfund loans receivable/payable” or “advances to/from other funds.” All other outstanding balances between funds are reported as “due to/from
other funds.” Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-
wide financial statements as “internal balances.” Separate schedules of interfund loans, amounts due to and from other funds and advances are
furnished in Note 13 – Interfund Transactions and Balances.

Amounts Due to and from Other Governmental Units

These accounts include amounts due to or from other governments for grants, entitlements, temporary loans, taxes and charges for services.

Special Assessments
Special assessments are amounts levied against benefited properties to recover costs associated with the construction of local improvement
district (LID) projects. A lien is recorded against benefited properties until the assessment has been paid. Special assessments receivable
represent all outstanding assessment amounts including current assessments billed but not collected, unpaid delinquent assessments, and
special assessment amounts due in future years, which are recorded in a deferred inflow of resources account. Since special assessments are
secured by liens against related properties, no allowance for uncollectible amounts is made. The City has one Special Assessment LID for the
152nd ST Overcrossing, located in the Smokey Point Area. This created access over I-5 to the shopping area west of I-5 and south of 172nd st.
This area is also part of the Cascade Industrial Center, with a planned on and off ramp from I-5 in the future. Total assessment principal billed in
2023 was $194,115 and total principal collected was $225,157. As of December 31, 2023, $5,179 of special assessments receivable were
delinquent.

Inventories
Inventories in proprietary funds use a perpetual inventory method in which an expense is recorded when related items are consumed. Physical
inventories are taken at year-end and the value of items remaining in inventory is calculated for financial reporting purposes. Inventories in
proprietary funds are valued by the FIFO method, which approximates the market value. Inventories associated with Golf Course are held for
resale. All other inventories are held for internal use only.

Restricted Assets and Liabilities

Constraints imposed by debt covenants and laws and regulations of other governments require that the City maintain cash accounts, investments
and receivables for certain purposes. These accounts contain resources to ensure compliance with the revenue debt bond covenants. Specific
debt service reserve requirements are described in note 8 – Long-Term Debt. The restricted assets of the enterprise funds is composed of
$5,393,495 of investments for debt service.

Capital Assets (see note 4 – Capital Assets and Depreciation)

The City began prospective reporting of general infrastructure assets in January 1, 2005 and incorporated the retrospective values in 2007.

Capital assets, which include property, plant, and equipment, are reported in the applicable governmental or business-type activities columns in
the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than
$5,000 and estimated useful life in excess of one year. Infrastructure assets are capitalized when cost equals or exceeds $300,000. Donated
capital assets are recorded at acquisition value at the date of donation.

Capital assets purchased, constructed, or leased by a governmental fund type are recorded as expenditures in that fund at the time the related
expenditures are incurred. The associated capital assets are capitalized in the Governmental Activities column on the Government Wide
Statement of Net Position. Capital assets of internal service funds are reported with governmental assets.

Costs of normal maintenance and repair for general capital assets are not capitalized. However, any improvement that increases an asset’s
value, capacity or materially extends its life is added to that asset’s capitalized costs.

All project costs are included in construction in progress in the government-wide statement of net position. At completion, capital costs are
reclassified to the appropriate capital asset account. In the governmental fund financial statements, lease and contract payments are reported
as expenditures.

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Property, plant and equipment of the primary government, are depreciated using the straight line method over the following estimated useful lives:

ESTIMATED SERVICE LIFE

Buildings & Structures 25-50 Years
Infrastructure 13-100 Years
Improvement Other Than Buildings 5-50 Years
Machinery & Equipment 2-20 Years

Leases (see note 9 – Leases)

Lessee & SBITA

The City is a lessee for noncancelable leases. The City recognizes lease liabilities and intangible right-to-use lease assets in the government-
wide and proprietary fund financial statements. The City recognizes lease liabilities with an initial, individual value of $5,000 or more.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the
lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured
as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct
costs. Subsequently, the lease asset is amortized using the straight-line basis over its useful life.

Governmental funds recognize a capital outlay and other financing source at the commencement of a new lease. Lease payments in
governmental funds are reported as debt service principal and debt service interest expenditures.

Key estimates and judgements include how the City determines the discount rate it uses to discount expected lease payments to present value,
lease term, and lease payments.

• The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided
the City generally uses its incremental borrowing rate as the discount rate for leases.
• The lease term includes the noncancelable period of the lease. Lease payments included in the measurement of the lease liability are
composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its leases and will remeasure the lease asset and liability if
certain changes occur that are expected to significantly affect the amount of the lease liability.

Lessor
The City is a lessor for noncancelable leases. The City recognizes lease receivables and related deferred inflows of resources in the government-
wide and fund financial statements.

At the commencement of a lease the City initially measures the lease receivable at the present value of payments expected to be received during
the lease term. Subsequently the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of
resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease
commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term using the straight-
line basis.

Key estimates and judgements include how the City determines the discount rate it uses to discount the expected lease payments to present
value, lease term and lease payments.

• The City uses its estimated incremental borrowing rate as the discount rate for leases.
• The lease term includes the noncancelable period of the lease. Lease receipts included in the measurement of the lease liability are
composed of fixed payments from the lessee.

The City monitors changes in circumstances that would require a remeasurement of its leases, and will remeasure the lease receivables and
deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable.

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Pensions (see note 5 – Pension Plans)

For purpose of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and
pension expense, information about the fiduciary net position of all state sponsored pension plans and additions to/deductions from those plans’
fiduciary net position have been determined on the same basis as they are reported by the Washington State Department of Retirement Systems.
For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the
benefit terms. Investments are reported at fair value.

For purposes of calculating the restricted net position related to the net pension asset, the City includes the net pension asset and the related
deferred outflows and deferred inflows.

Other Post-Employment Benefits (OPEB) Plans (see note 6– Defined Benefit Other Post-Employment Benefits (OPEB) Plans)
Lifetime full medical coverage is provided to uniformed Police and Fire personnel who became members of the Law Enforcement Officers and
Fire Fighters (LEOFF) retirement system prior to October 1, 1977. A liability for the accumulated unfunded actuarially required contributions is
reported in the Statement of Net Position. Actual medical costs are reported as expenditures in the general fund in the year they are incurred.

Compensated Absences
Employees may accumulate up to 180 days of sick leave. However, since the city does not have a policy to pay any amounts when employees
separate from service with the government, there is no liability recorded for unpaid accumulated sick leave. Sick leave pay is recorded as an
expense/expenditure upon usage. Eligible employees accumulate 10 to 25 days of vacation annually depending upon the employee’s length of
service, but may not accumulate more than two full years of earned accrual.

At the time of retirement or separation from the City, employees will be compensated for any unpaid accumulated vacation leave up to 240 hours.

Unearned Revenues
This account includes amounts recognized as receivables but not revenues in governmental funds because the revenue recognition criteria have
not been met.

Deferred Outflow/Inflows of Resources

Deferred outflow of resources is the consumption of net position that is applicable to a future reporting period. A deferred outflow of resources
involved no consumption of resources that results in either a net decrease in assets or a net increase in liabilities. It also represents access to
present service capability that is under the government’s controls. Deferred outflows of resources presented in this manner on the accompanying
financial statements are related to outstanding debt, pensions and OPEB.

Deferred inflow of resources is the acquisition of net position that is applicable to a future reporting period. A deferred inflow of resources involved
no acquisition of resources resulting in either a net increase in assets or a new decrease in liabilities. It represents a present obligation to sacrifice
resources that the government has little or no discretion to avoid. Deferred inflow of resources presented in this manner on the accompanying
financial statements are related to outstanding debt, leases, pensions, and timing-related revenue adjustments.

Long-term Debt (see note 8-Long-Term Debt)

Liabilities for long-term debt are recorded in the government-wide statement of net position and in the proprietary funds balance sheet. The
liabilities include bond premiums and discounts are deferred and amortized over the life of the bonds. Bonds payable are reported net of the
applicable bond premium or discount.

For governmental funds financial statements, bond issuance costs are expended at the time of issuance. Bond premiums and discounts are
deferred and amortized over the life of the bonds. Bond proceeds are reported as other financing source net of the applicable premium or
discount. Issuance costs, even if withheld from the actual net proceeds received, are reported as a debt service expenditure. The nature of debt
in the governmental activity is specific to a program and, therefore; debt service costs are not an allocated expenditure.

Net Position and Fund Balance

Net Position is segregated into three categories on the government-wide statement of net position: 1) net investment in capital assets; 2)
restricted; and 3) unrestricted. The flow assumption of the City is to use restricted assets before unrestricted assets. Restricted assets are
usually set aside in a separate fund, specifically used for the purpose of debt service or capital.

Fund balances, presented in the governmental fund financial statements represent the difference between assets and liabilities reported within
the government fund. Fund balance is classified into the following categories:

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Non-spendable – items that cannot be spent due to form; inventories, prepaid amounts, long-term loan receivables, or amounts that must be
maintained intact legally.

Spendable - amounts are further segregated into categories based on the degree to which the uses of resources are constrained. When an
expenditure is incurred for which restricted and unrestricted amounts are available, the City considers restricted amounts to be used first, followed
by committed, then assigned, and lastly, unassigned amounts.

Restricted – amounts constrained for specific purposes imposed by external parties, such as those resulting from federal and state legislation,
grant awards, bond covenants, and inter-local service agreements.

Committed – fund balance constrained by ordinance or resolution is adopted by City council and requires the same action to remove the constraint.
In Washington State, ordinances and resolutions carry the same force of law.

Assigned – constraints that are neither restricted or committed, are considered assigned. Assignments are adopted by City Council through the
budget ordinance. Special revenue funds typically report the majority of assigned fund balance and are created through ordinance by City Council.
Fund balance in special revenue funds that are intended to be used for specific purposes, but are neither restricted or committed, include transfers
from other funds, investment interest not constrained by contract or covenant, fees for services and rents.

Unassigned – any remaining fund balance in the general fund not classified as non-spendable, restricted, committed or assigned is considered
unassigned. Also negative fund balance in any other governmental fund is unassigned. Also, the City’s financial policies require a minimum of
10% of General Funds budgeted revenues (less beginning fund balance) be held in reserve. The reserves can be used for anything that council
feels is necessary and therefore is reported as unassigned. Any and all expenditures from the reserve require a super majority vote by the entire
City Council.

NOTE 2 - DEPOSITS AND INVESTMENTS

Deposits
The City’s deposits and certificates of deposit are entirely covered by federal depository insurance (FDIC) or by collateral held in a multiple
financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC).

Cash and Deposits Total

Cash on Hand 4,050
FDIC Insured Bank Deposits 10,723,652
Total Cash and Deposits $ 10,727,702

Investments
As required by state law, all investments of the City’s funds are obligations of the U.S. Government, U.S. agency issues, obligations of the State
of Washington, the State of Washington Local Government Investment Pool, or certificates of deposit with Washington State Banks.

The City is a participant in the Local Government Investment Pool (LGIP) which was authorized by Chapter 294, Laws of 1986, and is managed
and operated by the Washington State Treasurer. The State Finance Committee is the administrator of the statute that created the pool and
adopts rules. The State Treasurer is responsible for establishing the investment policy for the pool and reviews the policy annually and proposed
changed are reviewed by the LGIP advisory Committee.

Investments in the LGIP, a qualified external investment pool, are reported at amortized cost which approximates fair value. The LGIP is an
unrated external investment pool. The pool portfolio is invested in a manner that meets the maturity, quality, diversification and liquidity
requirements for external investments pools that elect to measure, for financial reporting purposes, investments at amortized cost. The LGIP
does not have any legally binding guarantees of share values. The LGIP does not impose liquidity fees or redemption gates on participant
withdrawals.

The Office of the State Treasurer prepared a stand-along LGIP financial report. A copy of the report is available from the Office of the State
Treasurer, PO Box 40200, Olympia, Washington 98504-0200, online at http://www.tre.wa.gov.

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Credit Risk - Safety of principal is the foremost objective of the City’s investment program. City investments are undertaken in a conservative
manner that seeks to ensure the preservation of the portfolio’s capital. The City holds investments in government agencies all of which hold AAA
ratings from Standard & Poor’s and Aaa from Moody’s Investor Services.

Custodial Credit Risk is the risk that in the event of a bank failure, the City’s investments may not be recovered. All City securities are held for
safekeeping by US Bank.

Concentration of Credit Risk – Concentration of credit risk is the risk of loss attributed to the magnitude of the City’s investment in a single issuer.
Safety of the principal is the foremost objective of the investment program. Investments of the City shall be undertaken in a manner that seeks
to ensure the preservation of capital in the overall portfolio.

Interest Rate Risk – Interest rate risk is the risk that changes in interest rates of debt instruments will adversely affect the fair value of an
investment. To mitigate the effect of interest rate risk, the portfolio is invested in high quality, highly liquid obligations with limited maximum and
average maturities. The City’s investment policy limits the effective duration of the portfolio to a maximum of five with a weighted average maturity
of two years.

Investments that are not measured at fair value

As of December 31, 2023, the City had the following investments at amortized cost reported as cash equivalents:

Investment Type Maturities Total

CD – Bank of America 6/16/2024 11,688
Deposit Account – Opus Bank - 2,994,321
State Pool Primary - 24,821,177
Total Deposits $ 27,827,186

Investments measured at fair value

Less Than 1
Investment Type Fair Value 1 to 4 Years
Year
Federal Farm Credit Bank 14,605,533 - 14,605,533
Federal Home Loan Bank 13,705,442 1,018,653 12,686,789
Federal National Mortgage Association 731,587 498,673 232,915
Federal Home Loan Mortgage Association 1,837,241 - 1,837,241
US Treasury Notes 27,491,914 16,107,980 11,383,934
Municipal Bonds 1,868,958 - 1,868,958
Corporate Bonds 2,289,270 - 2,289,270
International Bonds 755,405 - 755,405
Total Investments $ 63,285,350 $ 17,625,305 $ 45,660,045

The City measures and reports investments at fair value using the valuation input hierarchy established by generally accepted account principles
as follows:
Level 1 – Quoted prices in active markets for identical assets or liabilities
Level 2 – These are quoted market prices for similar assets or liabilities, quoted prices for identical or similar
assets or liabilities in markets that are not active, or other than quoted prices that are not observable
Level 3 – Unobservable inputs for an asset or liability

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Quotes Prices Other

in Active Observable
Markets Inputs
Investment Type Fair Value (Level 1) (Level 2 )
Federal Agency Securities 30,879,803 - 30,879,803
US Treasury Securities 27,491,914 27,491,914 -
Municipal Bonds 1,868,958 1,868,958 -
Corporate Bonds 2,289,270 - 1,868,958
International Bonds 755,405 - 755,405
Total Investments $ 63,285,350 $ 29,360,871 $ 33,504,166

Reconciliation of cash deposits and investments are detailed in the following table

Cost Based
Cash Deposits and Investments Fair Value Total
Measure
Federal Farm Credit Bank 14,605,533 - 14,605,533
Federal Home Loan Bank 13,705,442 - 13,705,442
Federal National Mortgage Association 731,587 - 731,587
Federal Home Loan Mortgage Association 1,837,241 - 1,837,241
US Treasury Notes 27,491,914 - 27,491,914
Municipal Bonds 1,868,958 - 1,868,958
Corporate Bonds 2,289,270 - 2,289,270
International Bonds 755,405 - 755,405
Cash on Hand - 4,050 4,050
FDIC Insured Deposits (KeyBank) - 10,723,652 10,723,652
State Pool - 24,821,177 24,821,177
CD – Bank of America - 11,688 11,688
Deposit Account – Opus Bank - 2,994,321 2,994,321
Period 13 Claims Paid 123123A (01/04/2024) (523,258) (523,258)
Period 13 Claims Paid 123123B (01/11/2024) (8,039,941) (8,039,941)
Period 13 Claims Paid 123123C (01/19/2024) (1,867,901) (1,867,901)
Period 13 Payroll Paid (01/10/2024) (1,889,761) (1,889,761)
Wires/ACH in Oustanding Balance (01/04/2024) 249,294 249,294
Wires/ACH in Oustanding Balance (01/11/2024) 4,734,184 4,734,184
Total Cash Deposits & Investments $ 63,285,350 $ 38,554,888 $ 94,502,854

NOTE 3 - PROPERTY TAXES:

The county treasurer acts as an agent to collect property taxes levied in the county for all taxing authorities. Collections are distributed at/after
the end of each month. Properties listed on the County tax rolls as of May 31 are included in the annual tax levy January 1. New construction
through August 31 is included in the annual tax levy the following January 1.

Property Tax Calendar

January 1 Taxes are levied and become an enforceable lien against properties
February 14 Tax bills are mailed
April 30 First of two equal installment payments is due
May 31 Assessed value of property established for next year’s levy at 100% of market value
October 31 Second installment is due

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Property tax revenues are recognized in the year levied. At year-end, property tax revenues are recognized for collections to be distributed by
the County Treasurer within sixty days and an adjustment to taxes receivable and deferred revenue is made to account for delinquent taxes. No
allowance for uncollectible taxes is established because delinquent taxes are considered fully collectible.

The City may levy up to $3.60 per $1,000 of assessed valuation for general governmental services, subject to two limitations:

a. Washington State law in RCW 84.55.010 limits the growth of regular property taxes to 1 percent per year, after adjustments
for new construction.

b. The Washington State Constitution limits the total regular property taxes to 1 percent of all assessed valuation of $10 per
$1,000 of value. If the taxes of all districts exceed this amount, each is proportionately reduced until the total is at or below
the 1 percent limit.

The City's regular levy for 2023 was $.8141 per $1,000 on an assessed valuation of $11,185,397.

Levy Rate Total

Purpose of Levy Per $1,000 Levy Amount
General Government .8141 $ 11,185,397
Emergency Medical Service (EMS) .4450 6,115,136
Total City Levy $ 1.2591 $ 17,300,533

NOTE 4 - CAPITAL ASSETS AND DEPRECIATION

A summary of changes in governmental capital assets follows:

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A summary of changes in business-type capital asset follows:

Net Investment in capital assets

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City of Marysville 2023 Financial Section
Depreciation
Depreciation expense was charged to the following functions/programs of the primary government as follows:

Construction Commitments

As of December 31, 2023, the City had other outstanding contractual commitments, which include construction and engineering contracts for
capital projects currently in progress. The City’s outstanding contract obligations are included below:

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Summary totals of outstanding contractual commitments as listed above:

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NOTE 5 - PENSION PLANS
The following table represents the aggregate pension amounts for all plans for the year 2023:

Aggregate Pension Amounts – All Plans

Pension liabilities (3,092,212)
Pension assets 12,619,509
Deferred outflows of resources 10,361,543
Deferred inflows of resources (5,907,757)
Pension expense/expenditures (676,714)

State Sponsored Pension Plans

Substantially all City full-time and qualifying part-time employees participate in one of the following statewide retirement systems administered by
the Washington State Department of Retirement Systems, under cost-sharing, multiple-employer public employee defined benefit and defined
contribution retirement plans. The state Legislature establishes, and amends, laws pertaining to the creation and administration of all public
retirement systems.

The Department of Retirement Systems (DRS), a department within the primary government of the State of Washington, issues a publicly available
annual comprehensive financial report (ACFR) that includes financial statements and required supplementary information for each plan. The
DRS ACFR may be downloaded from the DRS website at www.drs.wa.gov.

Public Employees’ Retirement System (PERS)

PERS members include elected officials; state employees; employees of the Supreme, Appeals and Superior Courts; employees of the legislature;
employees of district and municipal courts; employees of local governments; and higher education employees not participating in higher education
retirement programs. PERS is comprised of three separate pension plans for membership purposes. PERS plans 1 and 2 are defined benefit
plans, and PERS plan 3 is a defined benefit plan with a defined contribution component.

PERS Plan 1 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the member’s average
final compensation (AFC) times the member’s years of service. The AFC is the average of the member’s 24 highest consecutive service months.
Members are eligible for retirement from active status at any age with at least 30 years of service, at age 55 with at least 25 years of service, or
at age 60 with at least five years of service. Members retiring from active status prior to the age of 65 may receive actuarially reduced benefits.
Retirement benefits are actuarially reduced to reflect the choice of a survivor benefit. Other benefits include duty and non-duty disability payments,
an optional cost-of-living adjustment (COLA), and a one-time duty-related death benefit, if found eligible by the Department of Labor and
Industries. PERS 1 members were vested after the completion of five years of eligible service. The plan was closed to new entrants on September
30, 1977.

Contributions
The PERS Plan 1 member contribution rate is established by State statute at 6 percent. The employer contribution rate is developed by the
Office of the State Actuary and includes an administrative expense component that is currently set at 0.20 percent. Each biennium, the state
Pension Funding Council adopts Plan 1 employer contribution rates. The PERS Plan 1 required contribution rates (expressed as a percentage
of covered payroll) for 2023 were as follows:

PERS Plan 1
Actual Contribution Rates: Employer Employee
January – June 2023
PERS Plan 1 6.36% 6.00%
PERS Plan 1 UAAL 3.85%
Administrative Fee 0.18%
TOTAL 10.39% 6.00%
July – August 2023
PERS Plan 1 6.36% 6.00%
PERS Plan 1 UAAL 2.85%
Administrative Fee 0.18%
TOTAL 9.39% 6.00%
September – December 2023
PERS Plan 1 6.36% 6.00%
PERS Plan 1 UAAL 2.97%
Administrative Fee 0.20%
TOTAL 9.53% 6.00%

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City of Marysville 2023 Financial Section
PERS Plan 2/3 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the member’s average
final compensation (AFC) times the member’s years of service for Plan 2 and 1 percent of AFC for Plan 3. The AFC is the average of the
member’s 60 highest-paid consecutive service months. There is no cap on years of service credit. Members are eligible for retirement with a full
benefit at 65 with at least five years of service credit. Retirement before age 65 is considered an early retirement. PERS Plan 2/3 members who
have at least 20 years of service credit and are 55 years of age or older, are eligible for early retirement with a benefit that is reduced by a factor
that varies according to age for each year before age 65. PERS Plan 2/3 members who have 30 or more years of service credit and are at least
55 years old can retire under one of two provisions:

• With a benefit that is reduced by three percent for each year before age 65; or

• With a benefit that has a smaller (or no) reduction (depending on age) that imposes stricter return-to-work rules.

PERS Plan 2/3 members hired on or after May 1, 2013 have the option to retire early by accepting a reduction of five percent for each year of
retirement before age 65. This option is available only to those who are age 55 or older and have at least 30 years of service credit. PERS Plan
2/3 retirement benefits are also actuarially reduced to reflect the choice of a survivor benefit. Other PERS Plan 2/3 benefits include duty and non-
duty disability payments, a cost-of-living allowance (based on the CPI), capped at three percent annually and a one-time duty related death
benefit, if found eligible by the Department of Labor and Industries. PERS 2 members are vested after completing five years of eligible service.
Plan 3 members are vested in the defined benefit portion of their plan after ten years of service; or after five years of service if 12 months of that
service are earned after age 44.

PERS Plan 3 defined contribution benefits are totally dependent on employee contributions and investment earnings on those contributions.
PERS Plan 3 members choose their contribution rate upon joining membership and have a chance to change rates upon changing employers.
As established by statute, Plan 3 required defined contribution rates are set at a minimum of 5 percent and escalate to 15 percent with a choice
of six options. Employers do not contribute to the defined contribution benefits. PERS Plan 3 members are immediately vested in the defined
contribution portion of their plan.

Contributions
The PERS Plan 2/3 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund Plan 2 and the
defined benefit portion of Plan 3. The Plan 2/3 employer rates include a component to address the PERS Plan 1 UAAL and an administrative
expense that is currently set at 0.20 percent. Each biennium, the state Pension Funding Council adopts Plan 2 employer and employee
contribution rates and Plan 3 contribution rates. The PERS Plan 2/3 required contribution rates (expressed as a percentage of covered payroll)
for 2023 were as follows:

PERS Plan 2/3

Actual Contribution Rates: Employer 2/3 Employee 2
January – June 2023
PERS Plan 2/3 6.36% 6.36%
PERS Plan 1 UAAL 3.85%
Administrative Fees 0.18%
Employee PERS Plan 3 Varies
TOTAL 10.39% 6.36%
July – August 2023
PERS Plan 2/3 6.36% 6.36%
PERS Plan 1 UAAL 2.85%
Administrative Fee 0.18%
Employee PERS Plan 3 Varies
TOTAL 9.39% 6.36%
September – December 2023
PERS Plan 1 6.36% 6.36%
PERS Plan 1 UAAL 2.97%
Administrative Fee 0.20%
Employee PERS Plan 3 Varies
TOTAL 9.53% 6.36%

The City’s actual PERS plan contributions were $891,631 to PERS Plan 1 and $1,496,511 to PERS Plan 2/3 for the year ended December 31,
2023.

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City of Marysville 2023 Financial Section

Public Safety Employees’ Retirement System (PSERS)

PSERS Plan 2 was created by the 2004 Legislature and became effective July 1, 2006. To be eligible for membership, an employee must work
on a full time basis and:

• Have completed a certified criminal justice training course with authority to arrest, conduct criminal investigations, enforce the criminal
laws of Washington, and carry a firearm as part of the job; or
• Have primary responsibility to ensure the custody and security of incarcerated or probationary individuals; or
• Function as a limited authority Washington peace officer, as defined in RCW 10.93.020; or
• Have primary responsibility to supervise eligible members who meet the above criteria.

PSERS membership includes:

• PERS 2 or 3 employees hired by a covered employer before July 1, 2006, who met at least one of the PSERS eligibility criteria and
elected membership during the period of July 1, 2006 to September 30 2006; and
• Employees hired on or after July 1, 2006 by a covered employer, that meet at least one of the PSERS eligibility criteria.

PSERS covered employers include:

• Certain State of Washington agencies (Department of Corrections, Department of Natural Resources, Gambling Commission, Liquor
Control Board, Parks and Recreation Commission, and Washington State Patrol),
• Washington State Counties,
• Washington State Cities (except for Seattle, Spokane, and Tacoma),
• Correctional entities formed by PSERS employers under the Interlocal Cooperation Act.

PSERS Plan 2 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the average final
compensation (AFC) for each year of service. The AFC is based on the member’s 60 consecutive highest creditable months of service. Benefits
are actuarially reduced for each year that the member’s age is less than 60 (with ten or more service credit years in PSERS), or less than 65
(with fewer than ten service credit years). There is no cap on years of service credit. Members are eligible for retirement at the age of 65 with
five years of service; or at the age of 60 with at least ten years of PSERS service credit; or at age 53 with 20 years of service. Retirement before
age 60 is considered an early retirement. PSERS members who retire prior to the age of 60 receive reduced benefits. If retirement is at age 53
or older with at least 20 years of service, a three percent per year reduction for each year between the age at retirement and age 60 applies.
PSERS Plan 2 retirement benefits are actuarially reduced to reflect the choice of a survivor benefit. Other benefits include duty and non-duty
disability payments, an optional cost-of living adjustment (COLA), and a one-time duty-related death benefit, if found eligible by the Department
of Labor and Industries. PSERS Plan 2 members are vested after completing five years of eligible service.

Contributions
The PSERS Plan 2 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund Plan 2. The Plan 2
employer rates include components to address the PERS Plan 1 unfunded actuarial accrued liability and administrative expense currently set at
0.20 percent. Each biennium, the state Pension Funding Council adopts Plan 2 employer and employee contribution rates.

The PSERS Plan 2 required contribution rates (expressed as a percentage of current-year covered payroll) for 2023 were as follows:

PSERS Plan 2
Actual Contribution Rates: Employer Employee
January – June 2023
PSERS Plan 2 6.60% 6.60%
PERS Plan 1 UAAL 3.85%
Administrative Fee 0.18%
TOTAL 10.63% 6.60%
July – August 2023
PSERS Plan 2 6.60% 6.60%
PERS Plan 1 UAAL 2.85%
Administrative Fee 0.18%
TOTAL 9.63% 6.60%
September – December 2023
PSERS Plan 2 6.73% 6.73%
PERS Plan 1 UAAL 2.97%
Administrative Fee 0.20%
TOTAL 9.90% 6.73%

The City’s actual contributions to the PSERS 2 plan were $176,181 for the year ended December 31, 2023.

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City of Marysville 2023 Financial Section
Law Enforcement Officers’ and Fire Fighters’ Retirement System (LEOFF)

LEOFF membership includes all full-time, fully compensated, local law enforcement commissioned officers, firefighters, and as of July 24, 2005,
emergency medical technicians. LEOFF is comprised of two separate defined benefit plans.

LEOFF Plan 1 provides retirement, disability and death benefits. Retirement benefits are determined per year of service calculated as a percent
of final average salary (FAS) as follows:

• 20+ years of service 2.0% of FAS

• 10-19 years of service 1.5% of FAS
• 5-9 years of service 1.0% of FAS

The FAS is the basic monthly salary received at the time of retirement, provided a member has held the same position or rank for 12 months
preceding the date of retirement. Otherwise, it is the average of the highest consecutive 24 months’ salary within the last ten years of service.
Members are eligible for retirement with five years of service at the age of 50. Other benefits include duty and non-duty disability payments, a
cost-of living adjustment (COLA), and a one-time duty-related death benefit, if found eligible by the Department of Labor and Industries. LEOFF
1 members were vested after the completion of five years of eligible service. The plan was closed to new entrants on September 30, 1977.

Contributions
Starting on July 1, 2000, LEOFF Plan 1 employers and employees contribute zero percent, as long as the plan remains fully funded. The LEOFF
Plan I had no required employer or employee contributions for fiscal year 2021. Employers paid only the administrative expense of 0.18 percent
of covered payroll.

LEOFF Plan 2 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the final average salary
(FAS) per year of service (the FAS is based on the highest consecutive 60 months). Members are eligible for retirement with a full benefit at 53
with at least five years of service credit. Members who retire prior to the age of 53 receive reduced benefits. If the member has at least 20 years
of service and is age 50, the reduction is three percent for each year prior to age 53. Otherwise, the benefits are actuarially reduced for each
year prior to age 53. LEOFF 2 retirement benefits are also actuarially reduced to reflect the choice of a survivor benefit. Other benefits include
duty and non-duty disability payments, a cost-of-living allowance (based on the CPI), capped at three percent annually and a one-time duty-
related death benefit, if found eligible by the Department of Labor and Industries. LEOFF 2 members are vested after the completion of five years
of eligible service.

Contributions
The LEOFF Plan 2 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund Plan 2. The employer
rate included an administrative expense component set at 0.20 percent. Plan 2 employers and employees are required to pay at the level adopted
by the LEOFF Plan 2 Retirement Board.

Effective July 1, 2017, when a LEOFF employer charges a fee or recovers costs for services rendered by a LEOFF 2 member to a non-LEOFF
employer, the LEOFF employer must cover both the employer and state contributions on the LEOFF 2 basic salary earned for those services.
The state contribution rate (expressed as a percentage of covered payroll) was 3.41% in 2023.

The LEOFF Plan 2 required contribution rates (expressed as a percentage of covered payroll) for 2023 were as follows:

LEOFF Plan 2
Actual Contribution Rates: Employer Employee
January – August 2023
State and local governments 5.12% 8.53%
Administrative Fee 0.18%
TOTAL 5.30% 8.53%
September – December 2023
State and local governments 5.12% 8.53%
Administrative Fee 0.20%
TOTAL 5.32% 8.53%

The City’s actual contributions to the plan were $552,111 for the year ended December 31, 2023.

The Legislature, by means of a special funding arrangement, appropriates money from the state General Fund to supplement the current service
liability and fund the prior service costs of Plan 2 in accordance with the recommendations of the Pension Funding Council and the LEOFF Plan

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City of Marysville 2023 Financial Section
2 Retirement Board. This special funding situation is not mandated by the state constitution and could be changed by statute. For the state fiscal
year ending June 30, 2023, the state contributed $87,966,142 to LEOFF Plan 2. The amount recognized by the City as its proportionate share
of this amount is $322,451

Actuarial Assumptions
The total pension liability (TPL) for each of the DRS plans was determined using the most recent actuarial valuation completed in 2023 with a
valuation date of June 30, 2022. The actuarial assumptions used in the June 30, 2022 valuation were based on the results of the Office of the
State Actuary’s (OSA) 2013-2018 Demographic Experience Study and the 2021 Economic Experience Study.

Additional assumptions for subsequent events and law changes are current as of the 2022 actuarial valuation report. The TPL was calculated as
of the valuation date and rolled forward to the measurement date of June 30, 2023. Plan liabilities were rolled forward from June 30, 2022, to
June 30, 2023, reflecting each plan’s normal cost (using the entry-age cost method), assumed interest and actual benefit payments.

• Inflation: 2.75% total economic inflation; 3.25% salary inflation

• Salary increases: In addition to the base 3.25% salary inflation assumption, salaries are also expected to grow by service-based
salary increases.
• Investment rate of return: 7.00%

Mortality rates were developed using the Society of Actuaries’ Pub. H-2010 mortality rates, which vary by member status, as the base table. The
OSA applied age offsets for each system, as appropriate, to better tailor the mortality rates to the demographics of each plan. OSA applied the
long-term MP-2017 generational improvement scale, also developed by the Society of Actuaries, to project mortality rates for every year after the
2010 base table. Mortality rates are applied on a generational basis; meaning, each member is assumed to receive additional mortality
improvements in each future year throughout their lifetime.

Methods did not change from the prior contribution rate setting June 30, 2021, Actuarial Valuation Report (AVR). There was the following
assumption change:

• OSA made adjustments to TRS Plan 1 assets, LEOFF Plan 1/2 assets, and LEOFF participant data to reflect certain material changes
occurring after the June 30, 2022, measurement date.

Discount Rate
The discount rate used to measure the total pension liability for all DRS plans was 7.0 percent.

To determine that rate, an asset sufficiency test was completed to test whether each pension plan’s fiduciary net position was sufficient to make
all projected future benefit payments for current plan members. Based on OSA’s assumptions, the pension plans’ fiduciary net position was
projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return
of 7.0 percent was used to determine the total liability.

Long-Term Expected Rate of Return

The long-term expected rate of return on the DRS pension plan investments of 7.0 percent was determined using a building-block-method. In
selecting this assumption, the OSA reviewed the historical experience data, considered the historical conditions that produced past annual
investment returns, and considered capital market assumptions and simulated expected investment returns provided by the Washington State
Investment Board (WSIB). The WSIB uses the capital market assumptions and their target asset allocation to simulate future investment returns
at various future times.

Estimated Rates of Return by Asset Class

The table below summarizes the best estimates of arithmetic real rates of return for each major asset class included in the pension plan’s target
asset allocation as of June 30, 2023. The inflation component used to create the table is 2.2% and represents the WSIB’s long-term estimate of
broad economic inflation consistent with their 2021 CMAs.

% Long-Term Expected
Real Rate of Return
Asset Class Target Allocation Arithmetic
Fixed Income 20% 1.50%
Tangible Assets 7% 4.70%
Real Estate 18% 5.40%
Global Equity 32% 5.90%
Private Equity 23% 8.90%
100%

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City of Marysville 2023 Financial Section

Sensitivity of Net Pension Liability/(Asset)

The table below presents the City’s proportionate share of the net pension liability (asset) calculated using the discount rate of 7.0 percent, as
well as what the City’s proportionate share of the net pension liability (asset) would be if it were calculated using a discount rate that is 1-
percentage point lower (6.0 percent) or 1-percentage point higher (8.0 percent) than the current rate.

1% Decrease Current Discount Rate 1% Increase

(6.0%) (7.0%) (8.0%)
PERS 1 $ 4,320,053 $ 3,092,212 $ 2,020,595
PERS 2/3 7,045,701 (6,478,091) (17,588,742)
PSERS 2 495,247 (319,395) (962,326)
LEOFF 1 (404,528) (456,215) (501,035)
LEOFF 2 888,433 (5,365,808) (10,484,366)

Pension Plan Fiduciary Net Position

Detailed information about the State’s pension plans’ fiduciary net position is available in the separately issued DRS financial report.

Pension Liabilities (Assets), Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
Pensions
At June 30, 2023, the City reported a total pension liability of $3,092,212 and a total pension asset of ($12,619,509) for its proportionate share of
the net pension liabilities as follows:

Liability (or Asset)

PERS 1 $ 3,092,212
PERS 2/3 (6,478,091)
PSERS 2 (319,395)
LEOFF 1 (456,215)
LEOFF 2 (5,365,808)

The amount of the liability/(asset) reported above for LEOFF Plans 1 and 2 reflects a reduction for State pension support provided to the City.
The amount recognized by the City as its proportionate share of the net pension asset the related State support, and the total portion of the net
pension asset that was associated with the City were as follows:

LEOFF 1 Asset LEOFF 2 Asset

Employer’s proportionate share (456,215) (5,365,808)
State’s proportionate share of the net pension
liability/(asset) associated with the employer (3,085,827) (3,426,550)
TOTAL (3,542,042) (8,792,358)

At June 30, the City’s proportionate share of the collective net pension liabilities was as follows:

Proportionate Proportionate Change in

Share 6/30/22 Share 6/30/23 Proportion
PERS 1 . 134578% .135461% .000883%
PERS 2/3 . 163231% .158053% (.005178%)
PSERS 2 . 227146% .301205% .074059%
LEOFF 1 . 016012% .015371% (.000641%)
LEOFF 2 . 222006% .223706% .001700%

Employer contribution transmittals received and processed by the DRS for the fiscal year ended June 30 are used as the basis for determining
each employer’s proportionate share of the collective pension amounts reported by the DRS in the Schedules of Employer and Nonemployer
Allocations for all plans except LEOFF 1.

LEOFF Plan 1 allocation percentages are based on the total historical employer contributions to LEOFF 1 from 1971 through 2000 and the
retirement benefit payments in fiscal year 2020. Historical data was obtained from a 2011 study by the Office of the State Actuary (OSA). In
fiscal year 2020, the state of Washington contributed 87.12 percent of LEOFF 1 employer contributions and all other employers contributed the
remaining 12.88 percent of employer contributions. LEOFF 1 is fully funded and no further employer contributions have been required since June
2000. If the plan becomes underfunded, funding of the remaining liability will require new legislation. The allocation method the plan chose
reflects the projected long-term contribution effort based on historical data.

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City of Marysville 2023 Financial Section
In fiscal year 2023, the state of Washington contributed 38.97 percent of LEOFF 2 employer contributions pursuant to RCW 41.26.725 and all
other employers contributed the remaining 61.03 percent of employer contributions.

Pension Expense
For the year ended December 31, 2023, the City recognized pension expense as follows:

Pension Expense
PERS 1 $ (4,053)
PERS 2/3 (718,585)
PSERS 2 71,831
LEOFF 1 (23,994)
LEOFF 2 (1,913)
TOTAL (676,714)

Deferred Outflows of Resources and Deferred Inflows of Resources

At December 31, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Deferred Outflows of Deferred Inflows of
PERS 1 Resources Resources
Differences between expected and actual experience - -
Net difference between projected and actual investment
earnings on pension plan investments - (348,815)
Changes of assumptions - -
Changes in proportion and differences between contributions
and proportionate share of contributions - -
Contributions subsequent to the measurement date 413,223 -
TOTAL 413,223 (348,815)
Deferred Outflows of Deferred Inflows of
PERS 2/3 Resources Resources
Differences between expected and actual experience 1,319,580 (72,380)
Net difference between projected and actual investment
earnings on pension plan investments - (2,441,336)
Changes of assumptions 2,719,727 (592,793)
Changes in proportion and differences between contributions
and proportionate share of contributions 306,508 (172,897)
Contributions subsequent to the measurement date 787,634 -
TOTAL 5,133,449 (3,279,406)
Deferred Outflows of Deferred Inflows of
PSERS 2 Resources Resources
Differences between expected and actual experience 99,941 (82,187)
Net difference between projected and actual investment
earnings on pension plan investments - (85,957)
Changes of assumptions 142,897 (55,578)
Changes in proportion and differences between contributions
and proportionate share of contributions - (93,219)
Contributions subsequent to the measurement date 91,679 -
TOTAL 334,517 (316,941)
Deferred Outflows of Deferred Inflows of
LEOFF 1 Resources Resources
Differences between expected and actual experience - -
Net difference between projected and actual investment
earnings on pension plan investments - (30,251)
Changes of assumptions - -
Changes in proportion and differences between contributions
and proportionate share of contributions - -
Contributions subsequent to the measurement date - -
TOTAL - (30,251)
Deferred Outflows of Deferred Inflows of
LEOFF 2 Resources Resources
Differences between expected and actual experience 2,191,780 (44,146)
Net difference between projected and actual investment
earnings on pension plan investments - (1,135,393)
Changes of assumptions 1,370,676 (440,759)
Changes in proportion and differences between contributions
and proportionate share of contributions 630,998 (312,045)
Contributions subsequent to the measurement date 286,899 -
TOTAL 4,480,353 (1,932,343)

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City of Marysville 2023 Financial Section
Deferred outflows of resources related to pensions resulting from the City’s contributions subsequent to the measurement date will be recognized
as a reduction of the net pension liability in the year ended December 31, 2023. Other amounts reported as deferred outflows and deferred
inflows of resources related to pensions will be recognized in pension expense as follows:

NOTE 6 – DEFINED BENEFIT OTHER POSTEMPLOYMENT BENEFIT (OPEB) PLANS

Year ended
The December 31: PERS 1 PERS 2/3 PSERS 2 LEOFF1 LEOFF 2
2024 (237,319) (1,110,815) (62,029) (20,741) (409,739)
2025 (298,457) (1,353,320) (74,810) (26,028) (593,090)
2026 184,024 2,010,717 53,919 16,146 1,022,562
2027 2,937 737,509 (51) 372 397,508
2028 - 730,831 747 - 435,808
Thereafter - 51,486 8,122 - 1,408,063
Total (348,815) 1,066,408 (74,102) (30,251) 2,261,112
following table represents the OPEB amounts for all plans subject to the GAAP requirements of for the year 2023.

Aggregate OPEB Amounts – All Plans

OPEB liabilities (3,776,401)
Deferred outflows of resources 85,068
OPEB expense/expenditures 461,741

OPEB Plan Description

As required by the Revised Code of Washington (RCW) Chapter 41.26, the City provides lifetime medical care for 7 LEOFF 1 retirees. The City
provides medical insurance and reimbursements for all necessary hospital, medical, and nursing care expenses not payable by worker’s
compensation, social security, insurance provided by another employer, other pension plan, or any other similar source. Medical insurance for
the retirees is provided by the City’s employee medical insurance program. Under the authorization of the LEOFF Disability Board, direct payment
is made for other retiree medical expenses not covered by standard medical plan benefit provisions.

The City provides health coverage for LEOFF 1 retirees through a medical plan purchased through the Association of Washington Cities (AWC)
Employees Benefit Trust as a single employer plan. In addition, the City pays or reimburses eligible retired LEOFF 1 police officers the necessary
usual and customary medical expenses in excess of those covered by the applicable insurance plan. The City also purchases a long-term care
insurance plan for eligible LEOFF 1 members. Dental costs and dependents are not covered. Funding for LEOFF retiree healthcare costs is
provided entirely by the City on a pay-as-you-go basis and there are no assets accumulated in a qualifying trust.

Employees covered by benefit terms – At December 31, 2023, the following employees were covered by the benefit terms:

Covered Employees
Inactive employees or beneficiaries currently receiving benefits 7
Inactive employees entitled to but not yet receiving benefits -
Active employees -
Total 7

Funding for LEOFF 1 retiree healthcare costs is provided by the City as required by RCW. These medical benefits are funded on a pay-as-you-
go basis through the General Fund and paid out of the Police Department budget. Health insurance premiums are paid monthly and long-term
care insurance is paid annually. Other medical services are paid as billings are presented for reimbursement. The City reimbursed 100 percent
of the amount of validated claims for medical costs incurred by these individuals.

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City of Marysville 2023 Financial Section

Assumptions and Other Inputs

The City’s Net OPEB Liability (OPEB) was calculated using the alternative measurement method in accordance with the parameters of GAAP for
employers in plans with fewer than one hundred total plan members utilizing the interactive tool developed by the Office of the State Actuary
(OSA) for use by local government. The following assumptions were used to measure the total Net OPEB Liability:

Discount Rate
Beginning of Measurement Year 3.54%
End of Measurement Year 3.65%
Healthcare Trend Rates
Medical Costs Approximately 4.5%, varies by year
Long-Term Care 4.75%
Medicare Part B Premiums Approximately 5.0%, varies by year
Mortality Rates (assume 100% male population)
Base Mortality Table PubS.H-2010 (Public Safety)
Blended 50%/50% Healthy/Disabled
Age Setback -1 year Healthy/ 0 years Disabled
Mortality Improvements MP-2017 Long-Term Rates
Projection Period Generational
Medicare Participation Rate 100%

The following presents the total OPEB liability for the City of Marysville calculated using the current healthcare cost trend rate as well as what the
OPEB liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher that the current
rate.

Current Healthcare Cost

1% Decrease Trend Rate 1% Increase

Total OPEB Liability $ 3,434,301 $ 3,776,401 $ 3,419,241

The following presents the total OPEB liability of the City of Marysville calculated using the current discount rate, as well as what the OPEB liability
would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher that the current rate.

1% Decrease Current Discount Rate 1% Increase

Total OPEB Liability $ 4,192,942 $ 3,776,401 $ 4,166,263

Changes in the Total OPEB Liability

For 2023, a schedule of changes in the total OPEB liability is reported below.

LEOFF 1
Total OPEB Liability at 1/1/2023 3,460,205
Interest 119,938
Changes of experience data & assumption 341,803
Estimated benefit payments (145,545)
Total OPEB Liability as 12/31/2023 3,776,401

The measurement date of 6/30/2023 was used in the calculation. The city uses the alternative measurement method in accordance with GAAP.
The City paid benefits of $69,514 for the year ended December 31, 2023.

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City of Marysville 2023 Financial Section
At December 31, 2023 the city reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following
sources:
Deferred Outflows of Deferred Inflows of
LEOFF 1 Resources Resources
Differences between expected and actual
experience - -
Changes of assumptions - -
Payments subsequent to the measurement date 85,068 -
TOTAL 85,068 -

NOTE 7 – RISK MANAGEMENT

The City is exposed to financial loss resulting from city-caused damage to property or persons, bodily injuries, natural disasters, and
unemployment compensation benefits paid to former employees. Individual internal service funds are used to account for and finance self-
insurance activities. These include unemployment compensation and general liability. The city purchases commercial insurance for claims in
excess of anticipated self-insured losses. Premiums paid to these funds by other governmental funds are used to pay for administrative costs,
claims, and risk transfer/insurance.

Unemployment Compensation Insurance Fund

In October 2018, the City Council signed resolution 2453 changing the payment method for the City’s Unemployment Insurance. In January,
2019, Fund 510 was established and the City started collecting premiums from other governmental funds and making payments to reimburse the
State of Washington Employment Security Department on a quarterly basis for unemployment compensation claims paid to former employees.

Liability Insurance Fund

The City of Marysville purchases a variety of insurance coverages to protect itself from unexpected financial loss. Liability coverage is in force
with limits up to $25,000,000, subject to a self-insured retention of $100,000, which applies on a per occurrence basis. Coverage includes
automobile liability, general liability, law enforcement liability, and public officials liability, employment practices liability, employee benefit liability,
and Washington Stop Gap coverage. Claims are administered by the City with the assistance from Defense Counsel depending on the need,
and subject to involvement from our excess insurers should a loss exceed our self-insured retention. Insurance for property, equipment
breakdown, automobile physical damage, cyber, and pollution related exposures is also in place. A brief summary of insurance in force is as
follows:

Policy Type Limits of insurance Carrier Deductible

$200,000,000 All Risk

Commercial Property, $100,000,000 Boiler & Machinery
Equipment Breakdown, $25,000,000 Flood
Automobile Physical Damage, $ 5,000,000 Flood Zones A&V Various Carriers $10,000
and Boiler & Machinery $ 100,000 Unscheduled Business
Insurance Interruption
$50,000,000 Extra Expense

Everest Indemnity Insurance

Earthquake $5,000,000 $250,000
Company
$2,000,000 Aggregate
Commercial Cyber Liability Lloyd's of London - Beazley
$ 500,000 Privacy $75,000
Insurance Syndicate
Notification/Monitoring Costs
Interstate Fire and Casualty
Pollution $2,000,000 Aggregate $150,000
Company
National Union Fire
Crime $2,500,000 Insurance Company of $10,000
Pittsburgh, PA
$100,000
Safety National Casualty
General Liability $2,000,000 Each Occurrence Self-Insured
Corp
Retention

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City of Marysville 2023 Financial Section

Policy Type Limits of insurance Carrier Deductible

$100,000
$2,000,000 Combined Single Limit Bodily Safety National Casualty
Auto Liability Self-Insured
Injury & Property Damage Corp
Retention
$100,000
Safety Specialty Insurance
Public Officials Liability $2,000,000 Each Wrongful Act Self-Insured
Co.
Retention
$100,000
Safety Specialty Insurance
Law Enforcement Liability $200,000,000 Each Occurrence Limit Self-Insured
Co.
Retention
$3,000,000 Each Occurrence Limit xs Safety National Casualty
Excess Liability N/A
$2,000,000 Corp.
Allied World Assurance Co.
Excess Liability $15,000,000 xs $5,000,000 & Evanston Insurance N/A
Company
Hallmark Specialty
Excess Liability $5,000,000 xs $20,000,000 N/A
Insurance Co.

Since the city began to self-insure in 2019 and creating fund 511, there have been no claims which have exceeded the city’s self-insurance limit.

At December 31, 2023, the city had available cash and investments in the Unemployment Compensation Insurance fund of $ 134,088 and in the
Liability Insurance fund of $ 622,910. The claims liability reported in the self-insurance funds is based on the requirements of GAAP. Prior to the
issuance of the financial statements, requires that a liability for claim be reported if it is probable that a liability has been incurred at the date of
the financial statements and can be reasonably estimated. This estimated liability is not discounted to present value.

Changes in the self –insurance funds’ claims liabilities in 2023 are shown in the table below:

Insurance Unemployment
Fund Compensation Fund
December 31, 2023
Beginning Liability *101,178 *547
Claims Incurred 8,204 5,863
Claims Paid 89,382 2,924
Ending Liability 20,000 3,486
*Beginning balance differs from PY ending. This reporting method will be followed moving forward

Medical Insurance Fund

In 2020, the City created a self-insured health benefits program for its employees as a means to contain rising health benefit costs. Medical
Insurance Fund 512 was established to account for the distribution of actual medical expense, associated administrative costs and reserves for
the program. The Association of Washington Cities continues to provide medical coverage for LEOFF 1 retirees, long term disability insurance
and employees who chose Kaiser or Group Health insurance.

In order to mitigate its risk exposure, the City holds individual and aggregate stop loss insurance and maintains both claims fluctuation and liability
reserves. The claims fluctuation liability reserve was $1,751,081 at December 31, 2023 based on an analysis of the recent twelve months of
incurred claims with applied monthly completion factors, as required by Washington Administrative Code (WAC) 200-110-040(a). At December
31, 2023, the city had available cash and investments in the Medical Insurance fund of $ 2,427,575

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Medical Insurance
Fund
December 31, 2022
Beginning Liability 1,106,781
Claims Incurred 3,781,827
Claims Paid 3,483,527
Ending Liability 1,405,081

December 31, 2023

Beginning Liability 1,405,081
Claims Incurred 5,009,698
Claims Paid 4,663,698
Ending Liability 1,751,081

NOTE 8 – LONG-TERM DEBT

The city issues general obligation bonds to finance the purchase, acquisition, and construction of significant capital assets. General obligation
bonds have been issued for both general government and business-type activities and are being repaid from the applicable resources. Federal
obligation bonds are direct obligations and pledge the full faith and credit of the government.

General government obligation bonds outstanding at December 31, 2023 are as follows:

DATE OF AMOUNT
DATE OF FINAL INTEREST ORIGINALLY REDEMPTION DEBT
DESCRIPTION ISSUE MATURITY RATE (S) ISSUED TO DATE OUTSTANDING

Governmental Activities

LTGO Refunding Bonds 2013 10/16/13 12/01/23 3.00-5.00 6,315,000 6,315,000 -

LTGO Bonds Series 2016 Refunding 09/01/14 12/01/27 2.00 4,990,000 2,865,000 2,125,000
LTGO Bonds 2013 10/16/13 12/01/30 3.00-5.00 9,005,000 4,570,000 4,435,000
LTGO Bonds 2018 06/28/18 12/01/38 3.00-5.00 11,375,000 945,000 10,430,000
LTGO Bonds 2018B 10/09/18 12/01/48 5.00 31,280,000 1,690,000 29,590,000
LTGO Bonds 2020A 08/18/20 12/01/40 2.00-5.00 11,590,000 1,200,000 10,390,000
LTGO Bonds 2020B 09/10/20 12/01/34 2.00 4,320,000 715,000 3,605,000
Total Governmental Activities $ 78,875,000 $ 18,300,000 $ 60,575,000

Special Assessments (w/government commitment)

LID 71 - 156th Street Overpass 09/23/14 06/01/36 2.05-4.15 6,022,846 4,497,846 1,525,000
Total Special Assessments 6,022,846 4,497,846 1,525,000

TOTAL GENERAL OBLIGATION BONDS $ 84,897,846 $ 22,797,846 $ 62,100,000

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Annual debt service requirements to maturity for general obligation bonds are as follows:

YEAR ENDING GOVERNMENTAL ACTIVITIES SPECIAL ASSESSMENT

12/31 PRINCIPAL INTEREST TOTAL PRINCIPAL INTEREST TOTAL
2024 2,890,000 2,467,019 5,357,019 - 75,323 75,323
2025 3,005,000 2,354,994 5,359,994 - 75,323 75,323
2026 3,125,000 2,238,019 5,363,019 - 75,323 75,323
2027 3,245,000 2,114,469 5,359,469 - - -
2028 2,920,000 1,984,731 4,904,731 - - -
2029-2033 14,185,000 8,104,194 22,289,194 - 376,613 376,613
2034-2038 13,525,000 5,683,200 19,208,200 1,525,000 376,613 1,901,613
2039-2043 8,590,000 3,418,950 12,008,950 - - -
2044-2048 9,090,000 1,408,000 10,498,000 - - -
TOTAL $ 60,575,000 $ 29,773,575 $ 90,348,575 $ 1,525,000 $ 979,193 $ 2,504,193

The LTGO Bond issue 2020B was a direct borrowing issue and the debt service requirements are included in the governmental activities table
above and shown separately below:

YEAR ENDING LTGO 2020B

12/31 PRINCIPAL INTEREST TOTAL
2024 235,000 72,100 307,100
2025 235,000 67,400 302,400
2026 250,000 62,700 312,700
2027 250,000 57,700 307,700
2028 355,000 52,700 407,700
2029-2033 1,880,000 154,300 2,034,300
2034 400,000 8,000 408,000
TOTAL $ 3,605,000 $ 474,900 $ 4,079,900

Business-type Long-Term Debt

The City issues revenue bonds to finance construction projects for the City’s utilities. Revenue bonds are payable from revenues generated by
the user fees, and are backed by the Waterworks Utility fund. Revenue debt outstanding as of December 31, 2023 is as follows:

DATE OF AMOUNT
DATE OF FINAL INTEREST ORIGINALLY REDEMPTION DEBT
DESCRIPTION ISSUE MATURITY RATE (S) ISSUED TO DATE OUTSTANDING
Water Revenue Bonds 05/29/14 04/01/28 2.00-5.00 39,945,000 22,105,000 17,840,000
TOTAL REVENUE BONDS $ 39,945,000 $ 22,105,000 $ 17,840,000

Annual debt service requirements to maturity for revenue bonds are as follows:

YEAR ENDING REVENUE BONDS BUSINESS-TYPE ACTIVITY

12/31 PRINCIPAL INTEREST TOTAL
2024 3,330,000 518,550 3,848,550
2025 3,465,000 383,325 3,848,325
2026 3,575,000 277,725 3,852,725
2027 3,680,000 168,900 3,848,900
2028 3,790,000 56,850 3,846,850
TOTAL $ 17,840,000 $ 1,405,350 $ 19,245,350

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City of Marysville 2023 Financial Section

The City’s other business type activities consist of multiple Public Works Trust Funds Loans and a Drinking Water Revolving Fund Loan used to
update the Wastewater Treatment Plant and to construct a new filtration plant.

Other Business-type long-term debt outstanding as of December 31, 2023, is as follows:

DATE OF AMOUNT
DATE OF FINAL INTEREST ORIGINALLY REDEMPTION DEBT
DESCRIPTION ISSUE MATURITY RATE (S) ISSUED TO DATE OUTSTANDING

PWTFL-WWTP Phase II 05/13/04 07/01/24 0.50 10,000,000 9,473,683 526,317

DWRFL-Stilly Well 12/12/03 10/01/23 1.50 4,080,000 4,080,000 -

Total Other Long Term Obligations 14,080,000 13,553,683 526,317

TOTAL OTHER BUSINESS-TYPE LONG TERM OBLIGATIONS $ 14,080,000 $ 13,553,683 $ 526,317

Annual debt service requirements to maturity for other Business-type long term debt are as follows:

YEAR ENDING OTHER BUSINESS-TYPE ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL
2024 526,316 2,632 528,947
TOTAL $ 526,316 $ 2,632 $ 528,947

Total Business-type debt service requirements to maturity is as follows:

YEAR ENDING TOTAL BUSINESS-TYPE ACTIVITY

12/31 PRINCIPAL INTEREST TOTAL
2024 3,856,316 521,182 4,377,497
2025 3,465,000 383,325 3,848,325
2026 3,575,000 277,725 3,852,725
2027 3,680,000 168,900 3,848,900
2028 3,790,000 56,850 3,846,850
TOTAL $ 18,366,316 $ 1,407,982 $ 19,774,297

At December 31, 2023, the City has $677,397 restricted and 166,570 assigned funds available in governmental debt service funds to service the
general bonded debt. Restricted assets in proprietary funds contain $5,393,495 in sinking funds and reserves as required by bond indentures.

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NOTE 9 – LEASES

Lessee

The City leases a postage machine under a 60-month noncancelable lease, ending in 2024 and six vehicles under 60-month noncancelable
leases ending in 2027 and 2028. The City leases numerous copiers under several different lease agreements with Copiers Northwest. The
copier leases have 48-month initial term plus a 48-month extension option which the City is likely to exercise.

Leased assets for the year ended December 31, 2023, are summarized as follows:

As of December 31, 2023, the principal and interest requirements to maturity are as follows:

YEAR ENDING GOVERNMENTAL ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL

2024 44,281 6,331 50,612

2025 88,347 6,630 94,977
2026 89,853 4,282 94,135
2027 89,960 2,855 92,814
2028 42,505 1,359 43,865
2029 39,061 997 40,058
TOTAL $ 394,007 $ 22,453 $ 416,461

YEAR ENDING BUSINESS-TYPE ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL

2024 12,271 413 12,685

2025 5,597 328 5,925
2026 5,683 242 5,925
2027 2,782 157 2,939
2028 1,507 89 1,596
2029 1,544 30 1,574
TOTAL $ 29,385 $ 1,259 $ 30,644

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City of Marysville 2023 Financial Section

Lessor
The City is a lessor in three real property space leases, under non-cancelable agreements of varying lengths and termination dates. In 2023,
the City received $48,130 in principal and $12,344 in interest on governmental leases and $59,072 in principal and $1,916 in interest on
business-type leases. The leases include Tower Rental Agreements to rent tower space on existing City towers, one is for 12 years with
TMobile and one is for 4 years with Island County and a building rental by the Boys and Girls Club which will expire in June of 2024 with an
option to purchase.

The Business lease is for a Restaurant at the City Owned Golf Course. This contract expires January 31, 2029.

As of December 31, 2023, future lease receivable principal and interest payments are as follows:

YEAR ENDING GOVERNMENTAL ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL
2024 55,277 10,607 65,883
2025 28,528 8,732 37,260
2026 29,384 7,876 37,260
2027 30,266 6,994 37,260
2028 31,640 6,086 37,726
2029-2033 200,535 13,710 214,245
TOTAL $ 375,631 $ 54,003 $ 429,634

YEAR ENDING BUSINESS-TYPE ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL
2024 6,327 420 6,747
2025 6,765 185 6,950
TOTAL $ 13,092 $ 605 $ 13,697

NOTE 10 – SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS

For the year ended 12/31/2023, the financial statements include the adoption of GASB Statement No. 96, Subscription-Based Information
Technology Arrangements. The primary objective of this statement is to enhance the relevance and consistency of information about
governments' subscription activities. This statement establishes a single model for subscription accounting based on the principle that
subscriptions are financings of the right to use an underlying asset. Under this Statement, an organization is required to recognize a
subscription liability and an intangible right-to-use subscription asset. The City included subscription contracts with a threshold of $10,000 or
more in annual costs. For additional information, refer to the disclosures below.

Subscriptions for the year ended December 31, 2023, are summarized as follows:

GOVERNMENTAL ACTIVITIES
Description Beginning Increases Decreases Ending

AKTIVOV - 123,093 - 123,093

GOV QA GRANICUS - 26,750 - 26,750
MUNIS - ERP SOFTWARE - 501,416 - 501,416
PEAK AGENDA GRANICUS - 124,269 - 124,269
TOPCON SOLUTIONS - 19,231 - 19,231
TRAKIT - 78,090 - 78,090
Total - 872,849 - 872,849

Accumulated Depreciation - (213,484) - (213,484)

$ - $ 659,365 $ - $ 659,365

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BUSINESS-TYPE ACTIVITIES
Description Beginning Increases Decreases Ending

120WATER - 105,779 - 105,779

ABSOLUTE - 123,093 - 123,093
AKTIVOV - 88,845 - 88,845
ALLEN BRADLEY - 40,547 - 40,547
CUSTOMER FIRST - 70,782 - 70,782
LASERFICHE - 245,265 - 245,265
MICROSOFT 365 - 556,588 - 556,588
NEARMAP - 86,064 - 86,064
RUBICONSMARTCITY - 103,257 - 103,257
SOCRATA - OPEN FINANCE - 40,614 - 40,614
TOPCON SOLUTIONS - 9,472 - 9,472
Total - 1,470,306 - 1,470,306

Accumulated Depreciation - (394,754) - (394,754)

$ - $ 1,075,552 $ - $ 1,075,552

As of December 31, 2023, the principal and interest requirements to maturity are as follows:

YEAR ENDING GOVERNMENTAL ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL

2024 36,507 31,749 68,256

2025 192,685 21,372 214,057
2026 203,090 10,967 214,057
TOTAL $ 432,282 $ 64,088 $ 496,370

YEAR ENDING BUSINESS-TYPE ACTIVITIES

12/31 PRINCIPAL INTEREST TOTAL

2024 11,103 11,260 22,363

2025 390,477 34,236 424,713
2026 191,960 13,150 205,110
2027 51,559 2,784 54,343
TOTAL $ 645,099 $ 61,430 $ 706,529

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NOTE 11 – CHANGES IN LONG-TERM LIABILITIES

During the year ended December 31, 2023, the following changes occurred in long-term liabilities:

Beginning Ending Due Within

Balance Additions Deductions Balance One Year
Governm ental Activities
Bonds payable:
General obligation bonds $ 64,355,000 $ - $ (3,780,000) $ 60,575,000 $ 2,890,000
For issuance premiums 6,619,644 - (363,162) 6,256,482 363,162
Total bonds Payable 70,974,644 - (4,143,162) 66,831,482 3,253,162

Special Assessment (w /government commitment) 1,815,000 - (290,000) 1,525,000 235,000

Pension Liability 2,814,871 - (571,859) 2,243,012 -

OPEB Liability 3,460,205 3,623,784 (3,460,205) 3,623,784 153,597
Leases 254,055 230,977 (84,174) 399,150 87,803
Subscriptions - 1,388,809 (394,500) 994,309 192,176
Compensated absences 2,306,376 309,231 - 2,615,607 1,307,804

Governmental activity long-term liabilities: $ 81,625,151 $ 5,552,801 $ (8,943,900) $ 78,232,344 $ 5,229,541

78,228,636
Business-Type Activities
Bonds payable:
Revenue Bond 21,010,000 - (3,170,000) 17,840,000 3,330,000
For issuance premiums 1,667,785 - (277,964) 1,389,821 277,964
Total bonds Payable 22,677,785 - (3,447,964) 19,229,821 3,607,964
Public Works Trust Fund Loans 1,275,032 - (748,714) 526,318 526,316
Pension Liabilities 932,273 - (83,074) 849,199 -
Leases 65,394 - (36,479) 28,916 5,705
Subscriptions 418,682 (88,385) 330,297 375,083
Compensated absences 401,911 28,277 - 430,188 215,094

Business-type activity long-term liabilities: $ 25,352,395 $ 446,959 $ (4,404,616) $ 21,394,739 $ 4,730,162

The general fund has been used to liquidate other post-employment benefits.

Since internal service funds predominantly serve the governmental funds, their long-term liabilities are included as part of the above totals for
governmental activities. At year end the governmental balances above include $271,778 related to the internal service funds’ net pension liability
and $93,335 related to internal service funds’ compensated absences. Also, for the governmental activities compensated absences are generally
liquidated by the general fund.

Arbitrage
Arbitrage occurs when the City invests funds borrowed at tax-exempt rates of interest in higher yielding securities. These interest earnings in
excess of interest expense must be remitted to the federal government. At the fund level, the City recognizes this liability only when it is due and
payable. The City had no arbitrage excess earnings liability in 2023.

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NOTE 12 – RECEIVABLES
Receivables as of December 31, 2023 appear as follows:

NOTE 13 - CONTINGENCIES AND LITIGATION

The city participates in a number of federal and state-assisted programs. These grants are subject to audit by the grantors or their representatives.
Such audits could result in requests for reimbursement to grantor agencies for expenditures disallowed under the terms of the grants. City
management believes that any such potential disallowances, if any, would be immaterial.

The City of Marysville is the defendant in certain legal actions. At this time the City Attorney is unable to determine the probability of the outcomes
in these cases. However, in all cases of legal actions against the city, the City Attorney believes there are meritorious defenses to the plaintiffs’
claims, and that both separately and collectively the alleged damages in these cases are within the coverage limits of the city’s insurance policies.
Therefore, the city believes that the costs of defending these claims, and any awards, if any, will not be material to the city’s financial position.

NOTE 14 - INTERFUND TRANSACTIONS AND BALANCES

Loans between funds are classified as interfund loans receivable and payable, or advances to and from other funds depending on the time period
for which the loan was made. Advances to other funds are typically loans that are not expected to be repaid within one year from the date of the
financial statements. Interfund loans receivable and payable are used primarily to meet short-term cash flow requirements while waiting for other
financing instruments to be put in place.

Interfund transfers are the flow of assets without a reciprocal return of assets, goods, or services in return. The City uses transfers to 1) move
revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, 2) move receipts
restricted to debt service from the funds collecting the receipts to the debt service fund as debt service payments become due, and 3) use
unrestricted revenues collected in one fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

Interfund activity for the year is as follows:

Interfund Loans Interfund Loans

Funds Receivable Payable
001- General 200,778 -
115- Affordable Housing Tax - 200,778
310 - Parks Construction - 820,656
410 - Solid Waste 820,656 -
Total $ 1,021,434 $ 1,021,434

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Current year transfers were to fund street maintenance, street construction, debt service, and vehicle purchases. The Waterworks Utility provides
annual funding to Street Maintenance for surface water activities.

Fund General Street Nonmajor Total Transfer

Construction Governmental Out
General Fund 2,356,533 - 6,786,763 9,143,296
Nonmajor Governmental 2,057,393 6,876,459 4,117,233 13,051,085
Waterworks Utility 926,753 - 2,727,748 3,654,501
Total Transfer In $ 5,340,680 $ 6,876,459 $ 13,631,744 $ 25,848,883

NOTE 15 – JOINT VENTURES & OTHER RELATED ORGANIZATIONS

Marysville Fire District RFA

A RFA Planning Committee consisting of three elected officials from the district and four elected officials from the City of Marysville, supported
by leadership and staff, was established in February 2018 to evaluate the feasibility of creating a new and separate regional fire authority to
provide the fire protection and emergency services within the boundaries of the City of Marysville and District 12. After one year of review,
analysis, outreach and planning, the committee proposed a RFA plan document providing for the governance, design, financing and development
of fire protection and emergency services. The Fire District Board and Marysville City Council passed resolutions in February 2019 to forward
the RFA plan to a public vote on April 23, 2019. Voters in Marysville and Fire District 12 approved the plan authorizing and creating the Marysville
Fire District RFA effective October 1, 2019.

The RFA is governed by a Board of Directors consisting of five (5) voting members consisting of four (4) elected officials of the Marysville City
Council and (1) elected official from District 12. There is an additional non-voting member who shall be one (1) elected official from the District.

Separate financial statements for the new RFA may be obtained from Marysville Fire District RFA, Finance Department, 1094 Cedar Ave,
Marysville, WA 98270.

As a result of the RFA, the City of Marysville, beginning in 2024, will stop levying and collecting EMS taxes.

Snohomish County 911

The City and other Police and Fire entities jointly operate Snohomish County 911. Snohomish County 911, a cash basis, special purpose district,
was created under the Interlocal Cooperation Act, as codified in RCW 39.34. This established the statutory authority necessary for Snohomish
County, the cities, towns, fire districts, police districts and other service districts to enter into a contract and agreement to jointly establish, maintain
and operate a support communications center. Control of Snohomish County 911 is with a 16 member Board of Directors which is specified in
the Interlocal Agreement. Snohomish County 911 takes 911 calls and performs emergency dispatch services for local governmental agencies
include police, fire and medical aid.

In the event of the dissolution of Snohomish County 911, any money in the possession of Snohomish County 911 or the Board of Directors after
payment of all costs, expenses and charges validly incurred under this agreement shall be returned to the parties to this agreement and shall be
apportioned between the parties based on the average ratio of each parties’ contributions to the operating budget over the preceding five years.
Before deducting the payment of all costs, expenses and charges validly incurred, the city’s share was $1,625,931 on December 31, 2023. The
City’s equity interest of $1,625,931 was recorded in government activities on the statement of net position.

Snohomish County 911’s 2023 operating budget was $28,409,308, operating revenues received were $28,409,308 and total operating
expenditures were $28,409,308 Complete financial statements for Snohomish County 911 can be obtained from Snohomish County 911’s
administrative office at 1121 SE Everett Mall Way, Suite 200, Everett, WA 98208.

Alliance of Housing Affordability

In September 2013, the City of Marysville joined the cities of Edmonds, Everett, Granite Falls, Lake Stevens, Lynnwood, Marysville, Mill Greek,
Mountlake Terrace, Mukilteo, and Snohomish, the Town of Woodway, and Snohomish County to establish the Alliance for Housing Affordability
(AHA). The agreement was amended in May 2014 to add the City of Arlington and in June 2014 to add the City of Stanwood.

The purpose of AHA is to cooperatively formulate affordable housing goals and policies and to foster efforts to provide affordable housing by
providing expertise and information to member jurisdictions. Operating funding is provided by the member cities.

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AHA is governed by a Joint Board composed of an elected official from each member. The Joint Board is responsible for review and approval of
all budgetary, financial, policy, and contractual matters. The Board is assisted by an administrative staff housed at the Housing Authority for
Snohomish County (HASCO). Fiscal agent duties were transferred to HASCO during fiscal year 2018. The values included in the table below
were audited and updated by the new fiscal agent and may be different than what was reported in prior years.

Each member city is responsible for contributing operating revenues as determined from the AHA annual budget. Contributions from the member
cities are based on each member's population. A grant from the Gates Foundation provided $50,000 to assist with the first few years of
organizational start-up. The City of Marysville’s equity share to date is:

Marysville’s
Fiscal Year AHA Budget share of Budget % of Budget
2014 $ 89,850 $ 3,613 4.0%
2015 92,543 3,721 4.0%
2016 93,651 3,702 4.0%
2017 97,934 3,675 3.8%
2018 102,586 5,513 5.4%
2019 107,391 6,541 6.1%
2020 112,408 6,939 6.2%
2021 117,673 7,002 6.0%
2022 118,200 7,014 9.4%
2023 135,522 7,405 9.2%
2024 157,674 9,448 9.3%

Members withdrawing from the agreement relinquish all rights to any reserve funds, equipment, or material purchased. Upon dissolution, the
agreement provides for distribution of net assets among the members based on the percentage of the total annual contributions during the
period of the Agreement paid by each member.

Budget monitoring information can be obtained from Pam Frost, Director of Finance, HASCO, 12711 4th Ave W, Everett WA 98204 (email:
pfrost@hasco.org) or from Chris Collier, Program Manager, Alliance for Housing Affordability, 12711 4th Ave W, Everett WA 98204.

AWC Employee Benefit Trust

The City of Marysville is a member of the Association of Washington Cities Employee Benefit Trust Health Care Program (AWC Trust HCP).
Chapter 48.62 RCW provides that two or more local government entities may, by Interlocal agreement under Chapter 39.34 RCW, form together
or join a pool or organization for the joint purchasing of insurance, and/or joint self-insurance, to the same extent that they may individually
purchase insurance, or self-insure

An agreement to form a pooling arrangement was made pursuant to the provisions of Chapter 39.34 RCW, the Interlocal Cooperation Act. The
AWC Trust HCP was formed on January 1, 2014 when participating cities, towns, and non-city entities of the AWC Employee Benefit Trust in the
State of Washington joined together by signing an Interlocal Governmental Agreement to jointly self-insure certain health benefit plans and
programs for participating employees, their covered dependents and other beneficiaries through a designated account within the Trust.

As of December 31, 2023, 264 cities/towns/non-city entities participate in the AWC Trust HCP.

The AWC Trust HCP allows members to establish a program of joint insurance and provides health and welfare services to all participating
members.

In April 2020, the Board of Trustees adopted a large employer policy, requiring newly enrolling groups with 600 or more employees to submit
medical claims experience data in order to receive a quote for medical coverage. Outside of this, the AWC Trust HCP pools claims without regard
to individual member experience. The pool is actuarially rated each year with the assumption of projected claims run-out for all current members.

The AWC Trust HCP includes medical, dental and vision insurance through the following carriers: Kaiser Foundation Health Plan of Washington,
Kaiser Foundation Health Plan of Washington Options, Inc., Regence BlueShield, Asuris Northwest Health, Delta Dental of Washington,
Willamette Dental Group, and Vision Service Plan. Eligible members are cities and towns within the state of Washington. Non-city entities (public
agency, public corporation, intergovernmental agency, or political subdivision within the state of Washington) are eligible to apply for coverage
into the AWC Trust HCP, submitting application to the Board of Trustees for review as required in the Trust Agreement.

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City of Marysville 2023 Financial Section
Participating employers pay monthly premiums to the AWC Trust HCP. The AWC Trust HCP is responsible for payment of all covered claims.
In 2023, the AWC Trust HCP purchased medical stop loss insurance for Regence/Asuris and Kaiser plans at an Individual Stop Loss (ISL) of $2
million through United States Fire Insurance Company. The aggregate policy is for 200% of expected medical claims

Participating employers contract to remain in the AWC Trust HCP for a minimum of three years. Participating employers with over 250 employees
must provide written notice of termination of all coverage a minimum of 12 months in advance of the termination date, and participating employers
with under 250 employees must provide written notice of termination of all coverage a minimum of 6 months in advance of termination date. When
all coverage is being terminated, termination will only occur on December 31. Participating employers terminating a group or line of coverage
must notify the AWC Trust HCP a minimum of 60 days prior to termination. A participating employer’s termination will not obligate that member
to past debts, or further contributions to the AWC Trust HCP. Similarly, the terminating member forfeits all rights and interest to the AWC Trust
HCP Account.

The operations of the Health Care Program are managed by the Board of Trustees or its delegates. The Board of Trustees is comprised of four
regionally elected officials from Trust member cities or towns, the Employee Benefit Advisory Committee Chair and Vice Chair, and two appointed
individuals from the AWC Board of Directors, who are from Trust member cities or towns. The Trustees or its appointed delegates review and
analyze Health Care Program related matters and make operational decisions regarding premium contributions, reserves, plan options and
benefits in compliance with Chapter 48.62 RCW. The Board of Trustees has decision authority consistent with the Trust Agreement, Health Care
Program policies, Chapter 48.62 RCW and Chapter 200-110-WAC.

The accounting records of the AWC Trust HCP are maintained in accordance with methods prescribed by the State Auditor’s office under the
authority of Chapter 43.09 RCW. The AWC Trust HCP also follows applicable accounting standards established by the Governmental Accounting
Standards Board (“GASB”). In 2018, the retiree medical plan subsidy was eliminated, and is noted as such in the report for the fiscal year ending
December 31, 2018. Year-end financial reporting is done on an accrual basis and submitted to the Office of the State Auditor as required by
Chapter 200-110 WAC. The audit report for the AWC Trust HCP is available from the Washington State Auditor’s office.

NOTE 16– POLLUTION REMEDIATION OBLIGATION

On December 20, 2016, the City purchased the WELCO Lumber company property located at 1218 1st Street, Marysville, WA. After conducting
both a Phase I and Phase II Environmental Site Assessments analytical data from the consultant’s investigation indicated concentrations of TPH
above the MTCA Method A cleanup levels were present in the site soils. In addition soil and water impacts identified were in multiple areas all
over the site and likely represent multiple, separate releases none of which have been fully characterized with respect to lateral or vertical extend.
In order to assess the full impacts to the property and develop accurate clean-up costs, further investigations are required. Currently we do not
know the remediation costs or what those activities would be, as this would be dependent on the future use of the property. Typically the
remediation would often involve some soil removal to address hot spots and then capping the property with a barrier to prevent migration of
contaminants.

NOTE 17 – ACCOUNTING AND REPORTING CHANGES

Public Private Partnership

The City contracts with Premier Golf Centers for operation of Cedarcrest Golf Course. This agreement took effect in 2015 and expires in 2025.
The City pays Premier Golf for providing services in the form of management and incentive fees. Premier Golf does not provide payments to the
City under this agreement. As such, there is no receivable balance recognized on the financial statements.

New Accounting Standards

In 2023, the City implemented Governmental Accounting Standards Board (GASB) Statement 96, Subscription-based information technology
arrangements. This Statement requires the recognition of subscription assets, and the related accumulated amortization, disclosed separately
from other capital assets. The threshold, as determined by the City is $10,000 and higher.

This Statement provides guidance on the accounting and financial reporting for subscription-based information technology arrangements
(SBITAs) for government end users (governments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use
subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than
subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. To the extent relevant,
the standards for SBITAs are based on the standards established in Statement No. 87, Leases, as amended.

GASB 96 requires new qualitative and quantitative disclosures which did not previously exist for subscription-based information technology
arrangements.

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City of Marysville 2023 Required Supplementary Information

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
General Fund
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 47,154,943 47,154,943 46,016,282 (1,138,661)
Licenses and permits 2,730,167 2,730,167 4,401,970 1,671,803
Intergovernmental 1,937,062 2237062 2,106,472 (130,590)
Charges for services 9,011,114 9,400,889 5,939,070 (3,461,819)
Fines and forfeitures 455,516 455,516 326,716 (128,800)
Investment interest 271,497 271,497 1,485,274 1,213,777
Rents and leases 143,133 143,133 171,275 28,142
Miscellaneous 141,341 141,466 120,814 (20,652)
Total Revenues 61,844,773 62,534,673 60,567,873 (1,966,800)

Expenditures
Current:
Judicial 1,667,057 1,669,457 1,726,328 (56,871)
General government 10,200,713 10,225,862 6,299,789 3,926,073
Public safety 30,091,987 30,191,342 33,610,100 (3,418,758)
Physical environment 994,302 995,492 916,817 78,675
Transportation 8,969,434 9,307,115 6,439,656 2,867,459
Health & human services 671,081 671,411 621,112 50,299
Economic environment 3,431,773 3,466,430 3,205,231 261,199
Culture & recreation 4,510,561 4,444,222 4,129,114 315,108
Capital Outlay:
General government 315,451 2,090,451 400,155 1,690,296
Public safety - - - -
Culture & recreation - - - -
Debt Service:
Principal - - 169,028 (169,028)
Interest and fiscal charges - - 3,969 (3,969)
Total Expenditures 60,852,359 63,061,782 57,521,299 5,540,483

Excess (Deficiency) of Revenues

Over (Under) Expenditures 992,414 (527,109) 3,046,574 3,573,683

Other Financing Uses

Proceeds from sale of capital assets 3,675,000 3,675,000 1,175,000 (2,500,000)
Insurance recoveries - - 163,064 163,064
Leases (lessee) & SBITA - - 337,184 337,184
Transfers in 2,012,399 4,368,952 5,340,680 971,728
Transfers out (7,336,707) (13,027,322) (9,143,296) 3,884,026
Total other financing uses (1,649,308) (4,983,370) (2,127,368) 2,856,002

Net Change in Fund Balances (656,894) (5,510,479) 919,206 6,429,685

Fund Balances Beginning of Year 14,637,003 21,180,050 24,562,015 3,381,965

Prior Period Adjustment - - - -

Fund Balances End of Year 13,980,109 15,669,571 25,481,221 9,811,650

The city's budget is adopted on a GAAP basis.

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City of Marysville 2023 Required Supplementary Information

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 116 - School Mitigation
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Charges for services 1,000,000 1,000,000 2,915,925 1,915,925

Total Revenues 1,000,000 1,000,000 2,915,925 1,915,925

Expenditures
Current:
Economic environment 1,000,000 1,000,000 3,007,243 (2,007,243)
Total Expenditures 1,000,000 1,000,000 3,007,243 (2,007,243)

Net Change in Fund Balances - - (91,318) (91,318)

Fund Balances Beginning of Year - - - -

Fund Balances End of Year - - (91,318) (91,318)

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City of Marysville 2023 Required Supplementary Information

REQUIRED SUPPLEMENTARY INFORMATION For State Sponsored Plans (PERS, PSERS, LEOFF)
City of Marysville
Schedule of Proportionate Share of the Net Pension Liability (Asset)
Public Employees' Retirement System - Plan 1
As of June 30, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015

Employer's proportion of the net pension liability (asset) 0.135461% 0.134578% 0.130211% 0.129246% 0.138175% 0.126504% 0.127933% 0.129243% 0.129963%
Employer's proportionate share of the net pension liability (asset) $ 3,092,212 $ 3,747,145 $ 1,590,181 $ 4,563,082 $ 5,313,319 $ 5,649,712 $ 6,070,521 $ 6,940,958 $ 6,798,274

Covered payroll $ 24,157,654 $ 21,957,928 $ 19,959,916 $ 19,400,482 $ 19,025,986 $ 16,536,432 $ 15,818,704 $ 15,267,909 $ 14,122,963

Employer's proportionate share of the net pension liability as a percentage of

covered payroll 12.80% 17.07% 7.97% 23.52% 27.93% 34.17% 38.38% 45.46% 48.14%

Plan fiduciary net position as a percentage of the total pension liability 80.16% 76.56% 88.74% 68.64% 67.12% 63.22% 61.24% 57.03% 59.10%

City of Marysville
Schedule of Proportionate Share of the Net Pension Liability (Asset)
Public Employees' Retirement System - Plan 2/3
As of June 30, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015

Employer's proportion of the net pension liability (asset) (0.158053%) (0.163231%) (0.156564%) 0.156557% 0.164246% 0.147999% 0.150640% 0.150858% 0.153107%
Employer's proportionate share of the net pension liability (asset) $ (6,478,091) $ (6,053,880) $ (15,596,294) $ 2,002,275 $ 1,595,387 $ 2,526,951 $ 5,234,020 $ 7,595,581 $ 5,470,600

Covered payroll $ 21,853,865 $ 20,417,879 $ 18,725,806 $ 18,249,119 $ 17,855,996 $ 15,457,811 $ 14,768,762 $ 14,200,149 $ 13,645,668

Employer's proportionate share of the net pension liability as a percentage of

covered payroll -29.64% -29.65% -83.29% 10.97% 8.93% 16.35% 35.44% 53.49% 40.09%

Plan fiduciary net position as a percentage of the total pension liability 107.02% 106.73% 120.29% 97.22% 97.77% 95.77% 90.97% 85.82% 89.20%

Notes to Schedule:
*Until a full 10-year trend is compiled, only information for those years available is presented.

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City of Marysville 2023 Required Supplementary Information

City of Marysville
Schedule of Proportionate Share of the Net Pension Liability (Asset)
Public Safety Employees' Retirement System - Plan 2
As of June 30, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015

Employer's proportion of the net pension liability (asset) (0.301205%) (0.227146%) (0.177195%) (0.166369%) (0.197848%) (0.215048%) 0.228550% 0.247658% 0.306379%
Employer's proportionate share of the net pension liability (asset) $ (319,395) $ (162,409) $ (407,086) $ (22,892) $ (25,728) $ (2,664) $ 44,780 $ 105,250 $ 55,920

Covered payroll $ 2,303,788 $ 1,540,049 $ 1,201,164 $ 1,021,273 $ 912,697 $ 844,430 $ 809,195 $ 803,986 $ 888,526

Employer's proportionate share of the net pension liability as a percentage of

covered payroll -13.86% -10.55% -33.89% -2.24% -2.82% -0.32% 5.53% 13.09% 6.29%

Plan fiduciary net position as a percentage of the total pension liability 107.90% 105.96% 123.67% 101.68% 101.85% 99.79% 96.26% 90.41% 95.08%

City of Marysville
Schedule of Proportionate Share of the Net Pension Liability (Asset)
**Law Enforcement Officers' and Fire Fighters' Retirement-Plan 1
As of June 30, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015

Employer's proportion of the net pension liability (asset) (0.015371%) (0.016012%) (0.015584%) (0.015209%) (0.015669%) (0.016013%) (0.015846%) (0.015624%) (0.015457%)
Employer's proportionate share of the net pension liability (asset) $ (456,215) $ (459,322) $ (533,840) $ (287,223) $ (309,715) $ (290,716) $ (240,419) $ (160,972) $ (186,291)

State's proportionate share of the net pension liability (asset) associated with
the employer $ (3,085,827) $ (3,106,845) $ (3,610,878) $ (1,942,771) $ (2,094,906) $ (1,966,398) $ (1,626,186) $ (1,088,810) $ -

Total $ (3,542,042) $ (3,566,167) $ (4,144,718) $ (2,229,994) $ (2,404,621) $ (2,257,114) $ (1,866,605) $ (1,249,782) $ (186,291)

Covered payroll $ - $ - $ - $ - $ - $ - $ - $ - $ -

Employer's proportionate share of the net pension liability as a percentage of

covered payroll 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Plan fiduciary net position as a percentage of the total pension liability 175.99% 169.62% 187.45% 146.88% 148.78% 144.42% 135.96% 123.74% 127.36%

Notes to Schedule:
*Until a full 10-year trend is compiled, only information for those years available is presented.
**LEOFF 1 is closed and no longer accepts contributions

City of Marysville
Schedule of Proportionate Share of the Net Pension Liability (Asset)
Law Enforcement Officers' and Fire Fighters' Retirement-Plan 2
As of June 30, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015

Employer's proportion of the net pension liability (asset) (0.223706%) (0.222006%) (0.240518%) (0.225716%) (0.240505%) (0.244296%) (0.235422%) (0.227940%) (0.222857%)
Employer's proportionate share of the net pension liability (asset) $ (5,365,808) $ (6,033,453) $ (13,970,281) $ (4,604,277) $ (5,571,762) $ (4,959,741) $ (3,266,895) $ (1,325,767) $ (2,290,524)

State's proportionate share of the net pension liability (asset) associated with
the employer $ (3,426,550) $ (3,908,339) $ (9,012,356) $ (2,944,086) $ (3,648,758) $ (3,211,339) $ (2,119,173) $ (864,304) $ (1,514,498)

Total $ (8,792,358) $ (9,941,792) $ (22,982,637) $ (7,548,363) $ (9,220,520) $ (8,171,080) $ (5,386,068) $ (2,190,071) $ (3,805,022)

Covered payroll $ 9,862,587 $ 8,974,309 $ 9,309,867 $ 8,564,003 $ 8,446,163 $ 8,098,539 $ 7,364,424 $ 6,905,245 $ 6,467,801

Employer's proportionate share of the net pension liability as a percentage of

covered payroll 54.41% 67.23% 150.06% 53.76% 65.97% 61.24% 44.36% 19.20% 35.41%

Plan fiduciary net position as a percentage of the total pension liability 113.17% 116.09% 142.00% 115.83% 119.43% 118.50% 113.36% 106.04% 111.67%

Notes to Schedule:
*Until a full 10-year trend is compiled, only information for those years available is presented.

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City of Marysville 2023 Required Supplementary Information

REQUIRED SUPPLEMENTARY INFORMATION For State Sponsored Plans (PERS, PSERS, LEOFF)

City of Marysville
Schedule of Employer Contributions
Public Employees' Retirement System - Plan 1
As of December 31, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015**

Statutorily or contractually required contributions $ 891,631 $ 865,022 $ 887,474 $ 959,408 $ 947,320 $ 898,917 $ 803,900 $ 744,788 $ 665,362

Contributions in relation to the statutorily or

contractually required contributions $ (891,631) $ (865,022) $ (887,474) $ (959,408) $ (947,320) $ (898,917) $ (803,900) $ (744,788) $ (665,362)
Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ -

Covered payroll $ 26,183,790 $ 23,061,709 $ 20,546,529 $ 19,891,189 $ 18,613,660 $ 17,859,775 $ 16,211,486 $ 15,418,859 $ 15,082,608

Contributions as a percentage of covered payroll 3.41% 3.75% 4.32% 4.82% 5.09% 5.03% 4.96% 4.83% 4.41%

City of Marysville
Schedule of Employer Contributions
Public Employees' Retirement System - Plan 2/3
As of December 31, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015**

Statutorily or contractually required contributions $ 1,496,511 $ 1,349,172 $ 1,383,355 $ 1,478,169 $ 1,370,023 $ 1,222,074 $ 1,030,587 $ 877,097 $ 817,579

Contributions in relation to the statutorily or

contractually required contributions $ (1,496,511) $ (1,349,172) $ (1,383,355) $ (1,478,169) $ (1,370,023) $ (1,222,074) $ (1,030,587) $ (877,097) $ (817,579)
Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ -

Covered payroll $ 23,530,021 $ 21,170,554 $ 19,266,198 $ 18,661,638 $ 17,490,694 $ 16,758,726 $ 15,148,685 $ 14,394,571 $ 14,116,258

Contributions as a percentage of covered payroll 6.36% 6.37% 7.18% 7.92% 7.83% 7.29% 6.80% 6.09% 5.79%

Notes to Schedule:
*Until a full 10-year trend is compiled, only information for those years available is presented.
**In the 2015 RSI, the statutorily required constibutions were not distributed correctly between PERS1, PERS2/3,and PSERS.
The 2015 numbers above reflect the revised distribution

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City of Marysville 2023 Required Supplementary Information

City of Marysville
Schedule of Employer Contributions
Public Safety Employees' Retirement System - Plan 2
As of December 31, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015**

Statutorily or contractually required contributions $ 176,181 $ 123,558 $ 87,864 $ 82,717 $ 65,578 $ 58,825 $ 55,562 $ 53,412 $ 55,473

Contributions in relation to the statutorily or

contractually required contributions $ (176,181) $ (123,558) $ (87,864) $ (82,717) $ (65,578) $ (58,825) $ (55,562) $ (53,412) $ (55,473)
Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ -

Covered payroll $ 2,653,770 $ 1,891,155 $ 1,280,331 $ 1,154,439 $ 918,893 $ 829,259 $ 833,865 $ 788,947 $ 838,497

Contributions as a percentage of covered payroll 6.64% 6.53% 6.86% 7.17% 7.14% 7.09% 6.66% 6.77% 6.62%

City of Marysville
Schedule of Employer Contributions
Law Enforcement Officers & Fire Fighters' Retirement System - Plan 2
As of December 31, 2023
Last 9 Fiscal Years*

2023 2022 2021 2020 2019 2018 2017 2016 2015**

Statutorily or contractually required contributions $ 552,111 $ 472,454 $ 460,176 $ 459,350 $ 432,288 $ 435,467 $ 396,548 $ 373,246 $ 350,634

Contributions in relation to the statutorily or

contractually required contributions $ (552,111) $ (472,454) $ (460,176) $ (459,350) $ (432,288) $ (435,467) $ (396,548) $ (373,246) $ (350,634)
Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ -

Covered payroll $ 10,783,512 $ 9,228,279 $ 8,958,329 $ 8,942,844 $ 8,315,309 $ 8,294,618 $ 7,696,906 $ 7,136,631 $ 6,721,887

Contributions as a percentage of covered payroll 5.12% 5.12% 5.14% 5.14% 5.20% 5.25% 5.15% 5.23% 5.22%

Notes to Schedule:
*Until a full 10-year trend is compiled, only information for those years available is presented.
**In the 2015 RSI, the statutorily required constibutions were not distributed correctly between PERS1, PERS2/3,and PSERS.
The 2015 numbers above reflect the revised distribution

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City of Marysville 2023 Required Supplementary Information

City of Marysville
Schedule of Changes in Total OPEB Liability and Related Ratios
LEOFF 1
For the year ended December 31, 2023
Last 6 Fiscal Years*

2023 2022 2021 2020 2019 2018

Total OPEB liability - beginning $ 3,460,205 $ 4,008,111 $ 3,864,599 $ 3,646,105 $ 3,466,170 $ 3,579,606
Service cost - - - - - -
Interest 119,938 84,870 83,850 125,054 132,016 125,984
Changes in benefit terms - - - - - -
Differences between expected and actual experience 341,803 (474,076) 201,392 240,987 158,802 (117,331)
Changes of assumptions - - - - - -
Benefit payments (145,545) (158,700) (141,730) (147,547) (110,883) (122,089)
Other changes - - - - - -
Total OPEB liability - ending $ 3,776,401 $ 3,460,205 $ 4,008,111 $ 3,864,599 $ 3,646,105 $ 3,466,170

Covered-employee payroll $ - $ - $ - $ - $ - $ -

Total OPEB liability as a % of covered-employee payroll N/A N/A N/A N/A N/A N/A

Notes to Schedule:
* Until a full 10-year trend is compiled, only information for those years available is presented.
No assets are accumulated in a qualifying trust.

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City of Marysville 2023 Financial Section
Combining Balance Sheet
Nonmajor Governmental Funds
December 31, 2023

Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Funds Funds
Assets
Current Assets
Cash and cash equivalents 4,636,248 261,379 342,138 5,239,765
Investments 10,205,619 582,588 579,314 11,367,521
Receivables 1,269,681 - 39,729 1,309,410
Lease receivables - - 27,579 27,579
Total Assets 16,111,548 843,967 988,760 17,944,275

Liabilities, Deferred Inflows and Fund Balances

Liabilities
Accounts payable and accrued expenses 323,010 - 484,682 807,692
Due to other funds 200,778 - 820,656 1,021,434
Deposits payable 82,955 - - 82,955
Total Liabilities 606,743 - 1,305,338 1,912,081

Deferred Inflows of Resources

Grants - - - -
Leases - - 26,686 26,686
Total Deferred Inflows of Resources - - 26,686 26,686

Fund Balances

Restricted for:
Law Enforcement 73,364 - - 73,364
Hotel/Motel 414,995 - - 414,995
Technology Infrastructure 582,907 - - 582,907
REET 5,821,114 - - 5,821,114
Transportation Benefit District 7,731,424 - - 7,731,424
Debt Service Guaranty - 677,397 - 677,397
Capital Outlay - - 44,748 44,748
Grants 135,280 - - 135,280
Committed to:
Law Enforcement 45,272 - - 45,272
Assigned to:
Debt Service - 166,570 - 166,570
Street Maintenance 883,430 - - 883,430
Unassigned (182,981) - (388,012) (570,993)
Total Fund Balances 15,504,805 843,967 (343,264) 16,005,508

Total Liabilities, Deferred Inflows

of Resources, and Fund Balances 16,111,548 843,967 988,760 17,944,275

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City of Marysville 2023 Financial Section
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended December 31, 2023

Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Funds Funds
Revenues
Taxes 8,410,322 - - 8,410,322
Licenses and permits - - - -
Intergovernmental 1,948,115 - 195,097 2,143,212
Charges for services - - 1,261,276 1,261,276
Fines & forfeitures - - - -
Investment earnings 731,287 112,925 5,427 849,639
Rents & leases - - 26,686 26,686
Miscellaneous revenues 26,624 - 945,627 972,251
Total Revenues 11,116,348 112,925 2,434,113 13,663,386

Expenditures
Current:
General government 26,763 - - 26,763
Public safety 49,489 - - 49,489
Transportation 4,212,298 - - 4,212,298
Economic environment 374,232 - - 374,232
Capital Outlay:
Transportation - - 4,284,350 4,284,350
Economic environment 477,445 - - 477,445
Culture & recreation - - 3,855,201 3,855,201
Debt Service:
Principal retirement - 3,780,000 - 3,780,000
Interest and fiscal charges 200 2,618,519 11,086 2,629,805
Total Expenditures 5,140,427 6,398,519 8,173,001 19,711,947

Excess (Deficiency) of Revenues

Over (Under) Expenditures 5,975,921 (6,285,594) (5,738,888) (6,048,561)

Other Financing Sources (Uses)

Transfers in 491,626 6,396,769 6,743,349 13,631,744
Transfers (out) (10,955,653) - (157,014) (11,112,667)
Total Other Financing Sources (Uses) (10,464,027) 6,396,769 6,586,335 2,519,077

Net Change in Fund Balances (4,488,106) 111,175 847,447 (3,529,484)

Fund Balances Beginning of Year 19,992,911 732,792 (1,190,711) 19,534,992

Prior Period Adjustment - - - -

Fund Balances End of Year 15,504,805 843,967 (343,264) 16,005,508

81
City of Marysville 2023 Financial Section

Combining Balance Sheet

Nonmajor Special Revenue Funds
December 31, 2023

101 103 104 105 108

Street Drug Tribal Hotel/
Maintenance Seizure Gaming Motel I/NET
Assets
Cash and cash equivalents 292,117 22,721 2,313 118,220 180,528
Investments 651,100 50,643 188 263,502 402,379
Receivables 23,168 - 45,000 33,273 -
Total Assets 966,385 73,364 47,501 414,995 582,907

Liabilities and Fund Balances

Liabilities
Accounts payable and accrued expenses - - 2,229 - -
Due to other funds - - - - -
Deposits payable 82,955 - - - -
Total Liabilities 82,955 - 2,229 - -

Fund Balances

Restricted for:
Law Enforcement - 73,364 - - -
Hotel/Motel - - - 414,995 -
Technology Infrastructure - - - - 582,907
REET - - - - -
Transportation Benefit District - - - - -
Grants - - - - -
Committed to:
Law Enforcement - - 45,272 - -
Assigned to:
Street Maintenance 883,430 - - - -
Unassigned - - - - -
Total Fund Balances 883,430 73,364 45,272 414,995 582,907

Total Liabilities and Fund Balances 966,385 73,364 47,501 414,995 582,907

Page 1 of 2

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City of Marysville 2023 Financial Section

Combining Balance Sheet

Nonmajor Special Revenue Funds
December 31, 2023

Total
109 110 111 114 115 119 Nonmajor
GMA- GMA- Transportation Affordable Special Revenue
CDBG REET 1 REET II Benefit District Housing Tax COVID 19 Funds
Assets
Cash and cash equivalents 54,578 890,620 817,607 2,248,519 526 8,499 4,636,248
Investments 2,283 1,985,104 1,822,365 5,009,113 - 18,942 10,205,619
Receivables 107,839 152,709 152,709 737,186 17,797 - 1,269,681
Total Assets 164,700 3,028,433 2,792,681 7,994,818 18,323 27,441 16,111,548

Liabilities and Fund Balances

Liabilities
Accounts payable and accrued expenses 56,861 - - 263,394 526 - 323,010
Due to other funds - - - - 200,778 - 200,778
Deposits payable - - - - - - 82,955
Total Liabilities 56,861 - - 263,394 201,304 - 606,743

Fund Balances

Restricted for:
Law Enforcement - - - - - - 73,364
Hotel/Motel - - - - - - 414,995
Technology Infrastructure - - - - - - 582,907
REET - 3,028,433 2,792,681 - - - 5,821,114
Transportation Benefit District - - - 7,731,424 - - 7,731,424
Grants 107,839 - - - - 27,441 135,280
Committed to:
Law Enforcement - - - - - - 45,272
Assigned to:
Street Maintenance - - - - - - 883,430
Unassigned - - - - (182,981) - (182,981)
Total Fund Balances 107,839 3,028,433 2,792,681 7,731,424 (182,981) 27,441 15,504,805

Total Liabilities and Fund Balances 164,700 3,028,433 2,792,681 7,994,818 18,323 27,441 16,111,548

Page 2 of 2

83
City of Marysville 2023 Financial Section

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Special Revenue Funds
For the Year Ended December 31, 2023

101 103 104 105 108

Street Drug Tribal Hotel/
Maintenance Seizure Gaming Motel I/NET
Revenues
Taxes - - - 255,391 84,339
Intergovernmental 1,434,186 - 45,000 - -
Charges for services - - - - -
Fines and forfeitures - - - - -
Investment interest - 5,784 86 13,813 18,103
Total Revenues 1,460,571 5,822 45,151 269,204 102,442

Expenditures
Current:
General government - - - - 19,952
Transportation - - - - -
Economic environment - - - 60,000 -
Capital Outlay:
Economic environment - - - - -
Debt Service: -
Interest and fiscal charges - - - - -
Total Expenditures - 42,489 7,000 60,000 19,952

Excess (Deficiency) of Revenues

Over (Under) Expenditures 1,460,571 (36,667) 38,151 209,204 82,490

Other Financing Sources (Uses)

Transfer in - - - - -
Transfers out (1,930,223) - - (71,051) -
Total Other Financing Sources (Uses) (1,930,223) - - (71,051) -

Net Change in Fund Balances (469,652) (36,667) 38,151 138,153 82,490

Fund Balances Beginning of Year 1,353,082 110,031 7,121 276,842 500,417

Prior Period Adjustment - - - - -

Fund Balances End of Year 883,430 73,364 45,272 414,995 582,907

Page 1 of 2

84
City of Marysville 2023 Financial Section

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Special Revenue Funds
For the Year Ended December 31, 2023

Total
109 110 111 114 115 119 Nonmajor
GMA- GMA- Transportation Affordable Special Revenue
CDBG REET 1 REET II Benefit District Housing Tax COVID 19 Funds
Revenues
Taxes - 1,910,814 1,910,814 4,154,847 94,117 - 8,410,322
Intergovernmental 468,929 - - - - - 1,948,115
Charges for services - - - - - - -
Fines and forfeitures - - - - - - -
Investment interest - 193,681 185,437 313,423 - 960 731,287
Total Revenues 468,929 2,104,495 2,096,251 4,468,319 94,204 960 11,116,348

Expenditures
Current:
General government - - - 6,811 - - 26,763
Transportation - - - 4,212,298 - - 4,212,298
Economic environment 310,590 - - - 3,642 - 374,232
Capital Outlay:
Economic environment - - - - 477,445 - 477,445
Debt Service:
Interest and fiscal charges - - - - 200 - 200
Total Expenditures 310,590 - - 4,219,109 481,287 - 5,140,427

Excess (Deficiency) of Revenues

Over (Under) Expenditures 158,339 2,104,495 2,096,251 249,210 (387,083) 960 5,975,921

Other Financing Sources

Transfers in 27,420 - - - 464,206 - 491,626
Transfers out (77,920) (4,275,729) (4,275,730) (325,000) - - (10,955,653)
Total Other Financing Sources (Uses) (50,500) (4,275,729) (4,275,730) (325,000) 464,206 - (10,464,027)

Net Change in Fund Balances 107,839 (2,171,234) (2,179,479) (75,790) 77,123 960 (4,488,106)

Fund Balances Beginning of Year - 5,199,667 4,972,160 7,807,214 (260,104) 26,481 19,992,911

Prior Period Adjustment - - - - - - -

Fund Balances End of Year 107,839 3,028,433 2,792,681 7,731,424 (182,981) 27,441 15,504,805

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City of Marysville 2023 Financial Section

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86
City of Marysville 2023 Financial Section

Combining Balance Sheet

Nonmajor Debt Service Funds
December 31, 2023

Total
206 299 Nonmajor
LTGO LID Debt Service
Bond Guaranty Funds
Assets
Cash and cash equivalents 51,587 209,792 261,379
Investments 114,983 467,605 582,588
Total Assets 166,570 677,397 843,967

Total Liabilities - - -

Fund Balances
Restricted for:
Debt Service Guaranty - 677,397 677,397
Assigned to:
Debt Service 166,570 - 166,570
Total Fund Balances 166,570 677,397 843,967

Total Liabilities, Deferred Inflows and Fund

Balances 166,570 677,397 843,967

87
City of Marysville 2023 Financial Section

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Debt Service Funds
For the Year Ended December 31, 2023

Total
206 299 Nonmajor
LTGO LID Debt Service
Bond Guaranty Funds
Revenues
Investment interest 89,824 23,101 112,925
Total Revenues 89,824 23,101 112,925

Debt Service:
Principal retirement 3,780,000 - 3,780,000
Interest and fiscal charges 2,618,519 - 2,618,519
Total Expenditures 6,398,519 - 6,398,519

Excess (Deficiency) of Revenues

Over (Under) Expenditures (6,308,695) 23,101 (6,285,594)

Other Financing Sources (Uses)

Transfers in 6,396,769 - 6,396,769
Total Other Financing Sources (Uses) 6,396,769 - 6,396,769

Net Change in Fund Balances 88,074 23,101 111,175

Fund Balances Beginning of Year 78,496 654,296 732,792

Fund Balances End of Year 166,570 677,397 843,967

88
City of Marysville 2023 Financial Section

Combining Balance Sheet

Nonmajor Capital Projects Funds
December 31, 2023

Total
310 314 Nonmajor
Parks General Capital Capital Projects
Construction Construction Funds
Assets
Cash and cash equivalents 204,230 137,908 342,138
Investments 300,238 279,076 579,314
Receivables (net) 33,036 6,693 39,729
Lease receivables 27,579 - 27,579
Total Assets 565,083 423,677 988,760

Liabilities
Accounts payable and accrued expenses 105,753 378,929 484,682
Due to other funds 820,656 - 820,656
Total Liabilities 926,409 378,929 1,305,338

Deferred Inflows of Resources

Grants - - -
Leases 26,686 - 26,686
Total Deferred Inflows of Resources 26,686 - 26,686

Fund Balances
Restricted for:
Capital Outlay - 44,748 44,748
Unassigned (388,012) - (388,012)
Total Fund Balances (388,012) 44,748 (343,264)

Total Liabilities, Deferred Inflows

of Resources, and Fund Balances 565,083 423,677 988,760

89
City of Marysville 2023 Financial Section

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Capital Projects Funds
For the Year Ended December 31, 2023

Total
310 314 Nonmajor
Parks General Capital Capital Projects
Construction Construction Funds
Revenues
Intergovernmental 142,949 52,148 195,097
Charges for services 1,261,276 - 1,261,276
Investment interest 5,427 - 5,427
Rents and leases 26,686 - 26,686
Miscellaneous 941,964 3,663 945,627
Total Revenues 2,378,302 55,811 2,434,113

Expenditures
Current:
Culture and recreation 22,364 - 22,364
Capital:
General Government - 4,284,350 4,284,350
Culture and recreation 3,855,201 - 3,855,201
Debt service:
Interest 11,086 - 11,086
Total Expenditures 3,888,651 4,284,350 8,173,001

Excess (Deficiency) of Revenues

Over (Under) Expenditures (1,510,349) (4,228,539) (5,738,888)

Other Financing Sources (Uses)

Transfers in 2,443,464 4,299,885 6,743,349
Transfers (out) (157,014) - (157,014)
Other Financing Sources (Uses) 2,286,450 4,299,885 6,586,335

Net Change in Fund Balance 776,101 71,346 847,447

Fund Balances Beginning of Fiscal Year (1,164,113) (26,598) (1,190,711)

Fund Balances End of Fiscal Year (388,012) 44,748 (343,264)

90
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 101 - Street Maintenance
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Licenses and permits - -
Intergovernmental 1,494,073 1,494,073 1,434,186 (59,887)
Investment interest - -

Total Revenues 1,494,073 1,494,073 1,460,571 (33,502)

Expenditures
Current:
Transportation - - - -
Capital Outlay:
Transportation - - - -
Total Expenditures - - - -

Excess (Deficiency) of Revenues

Over (Under) Expenditures 1,494,073 1,494,073 1,460,571 (33,502)

Other Financing Souces (Uses)

Transfers out (1,493,608) (1,493,608) (1,930,223) (436,615)
Total other financing sources (uses) (1,493,608) (1,493,608) (1,930,223) (436,615)

Net Change in Fund Balances 465 465 (469,652) (470,117)

Fund Balances Beginning of Year 851,968 851,968 1,353,082 501,114

Fund Balances End of Year 852,433 852,433 883,430 30,997

91
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 103 - Drug Seizure
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Fines and forfeitures 10,000 10,000 - (10,000)
Investment interest 150 150 5,784 5,634

Total Revenues 10,150 10,150 5,822 (4,328)

Expenditures
Current:
Public safety 42,489 42,489 42,489 -
Total Expenditures 42,489 42,489 42,489 -

Excess (Deficiency) of Revenues

Over (Under) Expenditures (32,339) (32,339) (36,667) (4,328)

Net Change in Fund Balances (32,339) (32,339) (36,667) (4,328)

Fund Balances Beginning of Year 111,662 111,662 110,031 (1,631)

Fund Balances End of Year 79,323 79,323 73,364 (5,959)

92
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 104 - Tribal Gaming
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Investment interest - - 86 86

Total Revenues - - 45,151 45,151

Expenditures
Current:
Public safety 7,000 7,000 7,000 -
Total Expenditures 7,000 7,000 7,000 -

Excess (Deficiency) of Revenues

Over (Under) Expenditures (7,000) (7,000) 38,151 45,151

Net Change in Fund Balances (7,000) (7,000) 38,151 45,151

Fund Balances Beginning of Year 7,059 7,059 7,121 62

Fund Balances End of Year 59 59 45,272 45,213

93
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 105 - Hotel/Motel
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 110,000 110,000 255,391 145,391
Investment interest 500 500 13,813 13,313

Total Revenues 110,500 110,500 269,204 158,704

Expenditures
Current:
Economic environment 110,000 110,000 60,000 50,000
Total Expenditures 110,000 110,000 60,000 50,000

Excess (Deficiency) of Revenues

Over (Under) Expenditures 500 500 209,204 208,704

Other Financing Uses

Transfers out - - (71,051) (71,051)
Total other financing uses - - (71,051) (71,051)

Net Change in Fund Balances 500 500 138,153 137,653

Fund Balances Beginning of Year 325,498 325,498 276,842 (48,656)

Prior Period Adjustment - - - -

Fund Balances End of Year 325,998 325,998 414,995 88,997

94
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 108 - I/NET
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 100,000 100,000 84,339 (15,661)
Investment interest 2,500 2,500 18,103 15,603

Total Revenues 102,500 102,500 102,442 (58)

Expenditures
Current:
General government 551,000 21,000 19,952 1,048
Total Expenditures 551,000 21,000 19,952 1,048

Excess (Deficiency) of Revenues

Over (Under) Expenditures (448,500) 81,500 82,490 990

Net Change in Fund Balances (448,500) 81,500 82,490 990

Fund Balances Beginning of Year 513,859 513,859 500,417 (13,442)

Fund Balances End of Year 65,359 595,359 582,907 (12,452)

95
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 109 - CDBG
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Intergovernmental 354,000 354,000 468,929 114,929

Total Revenues 354,000 354,000 468,929 114,929

Expenditures
Economic environment 288,000 288,000 310,590 (22,590)
Total Expenditures 288,000 288,000 310,590 (22,590)

Excess (Deficiency) of Revenues

Over (Under) Expenditures 66,000 66,000 158,339 92,339

Other Financing Uses

Transfers in 27,420 27,420
Transfers out (66,000) (66,000) (77,920) (11,920)
Total other financing uses (66,000) (66,000) (50,500) 15,500

Net Change in Fund Balances - - 107,839 107,839

Fund Balances Beginning of Year - - - -

Fund Balances End of Year - - 107,839 107,839

96
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 110 - GMA - REET 1
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 2,500,000 2,500,000 1,910,814 (589,186)
Investment interest 15,000 15,000 193,681 178,681

Total Revenues 2,515,000 2,515,000 2,104,495 (410,505)

Total Expenditures - - - -

Excess (Deficiency) of Revenues

Over (Under) Expenditures 2,515,000 2,515,000 2,104,495 (410,505)

Other Financing Uses

Transfers out (5,000,000) (5,000,000) (4,275,729) 724,271
Total other financing uses (5,000,000) (5,000,000) (4,275,729) 724,271

Net Change in Fund Balances (2,485,000) (2,485,000) (2,171,234) 313,766

Fund Balances Beginning of Year 6,491,560 6,491,560 5,199,667 (1,291,893)

Prior Period Adjustment - - - -

Fund Balances End of Year 4,006,560 4,006,560 3,028,433 (978,127)

97
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 111 - GMA - REET 2
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 2,500,000 2,500,000 1,910,814 (589,186)
Investment interest 15,000 15,000 185,437 170,437

Total Revenues 2,515,000 2,515,000 2,096,251 (418,749)

Total Expenditures - - - -

Excess (Deficiency) of Revenues

Over (Under) Expenditures 2,515,000 2,515,000 2,096,251 (418,749)

Other Financing Uses

Transfers out (5,025,000) (5,025,000) (4,275,730) 749,270
Total other financing uses (5,025,000) (5,025,000) (4,275,730) 749,270

Net Change in Fund Balances (2,510,000) (2,510,000) (2,179,479) 330,521

Fund Balances Beginning of Year 5,072,986 5,072,986 4,972,160 (100,826)

Prior Period Adjustment - - - -

Fund Balances End of Year 2,562,986 2,562,986 2,792,681 229,695

98
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 114 - Transportation Benefit District
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 2,537,483 2,537,483 4,154,847 1,617,364
Investment interest 15,000 15,000 313,423 298,423
Miscellaneous - - 49 49

Total Revenues 2,552,483 2,552,483 4,468,319 1,915,836

Expenditures
Current:
General government - - 6,811 (6,811)
Transportation 1,600,000 5,850,000 4,212,298 1,637,702
Total Expenditures 1,600,000 5,850,000 4,219,109 1,630,891

Excess (Deficiency) of Revenues

Over (Under) Expenditures 952,483 (3,297,517) 249,210 3,546,727

Other Financing Uses

Transfers out (325,000) (325,000) (325,000) -
Total other financing uses (325,000) (325,000) (325,000) -

Net Change in Fund Balances 627,483 (3,622,517) (75,790) 3,546,727

Fund Balances Beginning of Year 8,770,299 8,770,299 7,807,214 (963,085)

Prior Period Adjustment - - - -

Fund Balances End of Year 9,397,782 5,147,782 7,731,424 2,583,642

99
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 115 - Affordable Housing Tax
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Taxes 90,490 90,490 94,117 3,627
Intergovernmental - 475,645 - (475,645)
Miscellaneous - - 87 87

Total Revenues 90,490 566,135 94,204 (471,931)

Expenditures
Current:
Economic environment - - 3,642 (3,642)
Capital Outlay 90,000 567,445 477,445 90,000
Debt Service:
Interest and fiscal charges - - 200 (200)
Total Expenditures 90,000 567,445 481,287 86,158

Excess (Deficiency) of Revenues

Over (Under) Expenditures 490 (1,310) (387,083) (385,773)

Other Financing Uses

Transfers in - - 464,206 464,206
Total other financing uses - - 464,206 464,206

Net Change in Fund Balances 490 (1,310) 77,123 78,433

Fund Balances Beginning of Year 138,006 138,006 (260,104) (398,110)

Prior Period Adjustment - - - -

Fund Balances End of Year 138,496 136,696 (182,981) (319,677)

100
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 119 - COVID 19
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Investment interest - - 960 960

Total Revenues - - 960 960

Expenditures
Current:
General government - - - -
Total Expenditures - - - -

Excess (Deficiency) of Revenues

Over (Under) Expenditures - - 960 960

Other Financing Sources (Uses)

Transfers in - - - -
Total other financing sources (uses) - - - -

Net Change in Fund Balances - - 960 960

Fund Balances Beginning of Year - - 26,481 26,481

Fund Balances End of Year - - 27,441 27,441

101
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 206 - LTGO Bond
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Investment interest 4,000 4,000 89,824 85,824

Total Revenues 4,000 4,000 89,824 85,824

Expenditures
Debt Service:
Principal 3,780,000 3,780,000 3,780,000 -
Interest and fiscal charges 2,619,269 2,619,269 2,618,519 750
Total Expenditures 6,399,269 6,399,269 6,398,519 750

Excess (Deficiency) of Revenues

Over (Under) Expenditures (6,395,269) (6,395,269) (6,308,695) 86,574

Other Financing Uses

Transfers In 6,396,769 6,396,769 6,396,769 -
Total other financing uses 6,396,769 6,396,769 6,396,769 -

Net Change in Fund Balances 1,500 1,500 88,074 86,574

Fund Balances Beginning of Year 98,503 98,503 78,496 (20,007)

Fund Balances End of Year 100,003 100,003 166,570 66,567

102
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 271 - LID 71
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Investment interest 1,000 1,000 882 (118)
Special assessments 418,000 418,000 382,103 (35,897)
Miscellaneous 3,500 3,500 178 (3,322)

Total Revenues 422,500 422,500 383,163 (39,337)

Expenditures
Debt Service:
Principal 350,000 350,000 290,000 60,000
Interest and fiscal charges 82,122 82,122 78,935 3,187
Total Expenditures 432,122 432,122 368,935 63,187

Excess (Deficiency) of Revenues

Over (Under) Expenditures (9,622) (9,622) 14,228 23,850

Net Change in Fund Balances (9,622) (9,622) 14,228 23,850

Fund Balances Beginning of Year 217,334 217,334 54,467 (162,867)

Fund Balances End of Year 207,712 207,712 68,695 (139,017)

103
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 299 - LID Guaranty
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Investment interest 3,000 3,000 23,101 20,101

Total Revenues 3,000 3,000 23,101 20,101

Expenditures
Current:
General government 10,000 10,000 - 10,000
Total Expenditures 10,000 10,000 - 10,000

Excess (Deficiency) of Revenues

Over (Under) Expenditures (7,000) (7,000) 23,101 30,101

Net Change in Fund Balances (7,000) (7,000) 23,101 30,101

Fund Balances Beginning of Year 651,767 651,767 654,296 2,529

Fund Balances End of Year 644,767 644,767 677,397 32,630

104
City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 305 - Street Capital Improvements
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Intergovernmental 10,688,003 10,688,003 3,610,007 (7,077,996)
Charges for services 2,000,000 2,000,000 3,946,731 1,946,731
Investment interest 5,000 5,000 - (5,000)
Total Revenues 12,693,003 12,693,003 7,556,751 (5,136,252)

Expenditures
Capital Outlay:
Transportation 25,095,000 20,629,572 10,807,407 9,822,165 *
Total Expenditures 25,095,000 20,629,572 10,807,407 9,822,165

Excess (Deficiency) of Revenues

Over (Under) Expenditures (12,401,997) (7,936,569) (3,250,656) 4,685,913

Other Financing Uses

Transfers in 13,400,000 14,050,000 6,876,459 (7,173,541)
Transfers out (1,938,419) (1,938,419) (1,938,419) -
Total other financing uses 11,461,581 12,111,581 4,938,040 (7,173,541)

Net Change in Fund Balances (940,416) 4,175,012 1,687,384 (2,487,628)

Fund Balances Beginning of Year 940,416 940,416 (205,077) (1,145,493)

Fund Balances End of Year - 5,115,428 1,482,307 (3,633,121)

* Budget Amendment 5/16/2024 for 2023 Carryover

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City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 310 - Parks Construction
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Intergovernmental 1,510,000 1,510,000 142,949 (1,367,051)
Charges for services 400,000 400,000 1,261,276 861,276
Investment interest - - 5,427 5,427
Rents and leases 29,000 29,000 26,686 (2,314)
Miscellaneous - - 941,964 941,964
Total Revenues 1,939,000 1,939,000 2,378,302 439,302

Expenditures
Capital Outlay
General government - - 22,364 (22,364)
Culture & recreation 4,928,000 4,362,000 3,855,201 506,799
Debt Service:
Interest and fiscal charges 6,500 6,500 11,086 (4,586)
Total Expenditures 4,934,500 4,368,500 3,888,651 479,849

Excess (Deficiency) of Revenues

Over (Under) Expenditures (2,995,500) (2,429,500) (1,510,349) 919,151

Other Financing Uses

Transfers in 2,000,000 3,945,000 2,443,464 (1,501,536)
Transfers out (78,507) (78,507) (157,014) (78,507)
Total other financing uses 1,921,493 3,866,493 2,286,450 (1,580,043)

Net Change in Fund Balances (1,074,007) 1,436,993 776,101 (660,892)

Fund Balances Beginning of Year 1,506,513 1,506,513 (1,164,113) (2,670,626)

Fund Balances End of Year 432,506 2,943,506 (388,012) (3,331,518)

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City of Marysville 2023 Financial Section

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Fund 314 - General Capital Improvements
For the Year Ended December 31, 2023

Original Amended Variance

2023-2024 2023-2024 With
Biennial Biennial 2023 Amended
Budget Budget Actual Budget
Revenues
Intergovernmental - - 52,148 52,148
Miscellaneous 3,663 3,663

Total Revenues - - 55,811 55,811

Expenditures
Capital Outlay:
General government 2,361,364 5,170,237 4,284,350 885,887
Total Expenditures 2,361,364 5,170,237 4,284,350 885,887

Excess (Deficiency) of Revenues

Over (Under) Expenditures (2,361,364) (5,170,237) (4,228,539) 941,698

Other Financing Uses

Transfers in 3,345,652 7,545,652 4,299,885 (3,245,767)
Total other financing uses 3,345,652 7,544,512 4,299,885 (3,244,627)

Net Change in Fund Balances 984,288 2,374,275 71,346 (2,302,929)

Fund Balances Beginning of Year 15,712 15,712 (26,598) (42,310)

Fund Balances End of Year 1,000,000 2,389,987 44,748 (2,345,239)

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City of Marysville 2023 Financial Section

Internal Service Funds

Combining Statement of Net Position
December 31, 2023

501 502 503 510 511 512

Fleet Facilities Information Unemployment Liability Medical
Maintenance Maintenance Services Insurance Insurance Insurance Total
Assets
Current Assets:
Cash and cash equivalents 180,714 30,983 321,477 41,527 192,917 1,009,620 1,777,238
Investments 175,929 55,303 397,673 92,561 429,993 1,675,748 2,827,207
Inventories 344,148 - - - - - 344,148
Total Current Assets 700,791 $86,286 $719,150 $134,088 $622,910 $2,685,368 $4,948,593

Noncurrent Assets:
Capital assets:
Depreciable, net 9,487,001 20,720 745,254 - - - 10,252,975
Net pension asset 150,197 98,027 321,145 - - - 569,369
Total Noncurrent Assets: 9,637,198 118,747 1,066,399 - - - 10,822,344

Deferred Outflows - pensions 128,602 83,932 274,971 - - - 487,505

Liabilities
Current Liabilities:
Accounts payable and accrued expenses 101,422 6,171 173,125 3,486 10,000 2,102,389 2,396,593
Leases Payable 44,281 - - - - - 44,281
Subscription Payable - - 36,507 - - - 36,507
Compensated absences payable 27,167 14,878 51,290 - - - 93,335
Total Current Liabilities 172,870 21,049 260,922 3,486 10,000 2,102,389 2,570,716

Noncurrent Liabilities
Net pension liability 71,694 46,791 153,293 - - - 271,778
Leases Payable 149,460 - - - - - 149,460
Subscription Payable - - 737,292 - - - 737,292
Compensated absences payable 27,167 14,878 51,290 - - - 93,335
Total Liabilities 421,191 82,718 1,202,797 3,486 10,000 2,102,389 3,822,581

Deferred Inflows - pensions 84,122 54,902 179,866 - - - 318,890

Net Position
Investment in capital assets 9,293,260 20,720 (28,545) - - - 9,285,435
Restricted for net pension assets 193,184 126,082 413,058 - - - 732,324
Unrestricted 474,834 4,543 293,344 130,602 612,910 582,979 2,099,212
Total Net Position 9,961,278 151,345 677,857 130,602 612,910 582,979 12,116,971

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City of Marysville 2023 Financial Section

Internal Service Funds

Combining Statement of Revenues, Expenses and Changes in Fund Net Position
For the Year Ended December 31, 2023

501 502 503 510 511 512

Fleet Facilities Information Unemployment Liability Medical
Maintenance Maintenance Services Insurance Insurance Insurance Total
Operating Revenues
Charges for services 4,428,801 996,387 2,771,344 - 1,309,515 6,628,855 16,134,902
Total Operating Revenues 4,428,801 996,387 2,771,344 - 1,309,515 6,628,855 16,134,902

Operating Expenses
Maintenance and operations 1,844,942 1,132,199 2,385,406 5,863 1,127,586 7,101,040 13,597,036
Depreciation 1,443,728 2,092 306,370 - - - 1,752,190
Total Operating Expenses 3,288,670 1,134,291 2,691,776 5,863 1,127,586 7,101,040 15,349,226

Operating Income (Loss) 1,140,131 (137,904) 79,568 (5,863) 181,929 (472,185) 785,676

Non-Operating Revenues
Investment interest 1,167 6,435 24,812 4,770 6,752 91,589 135,525
Interest expense (6,521) - - - - - (6,521)
Non-operating grants - - - - - 40,080 40,080
Insurance recoveries 40,190 - - - - - 40,190
Total Non-Operating Revenues 34,836 6,435 24,812 4,770 6,752 131,669 209,274

Change in Net Position 1,174,967 (131,469) 104,380 (1,093) 188,681 (340,516) 994,950

Net Position Beginning of Year 8,786,311 282,814 573,477 131,695 424,229 923,495 11,122,021

Net Position End of Year 9,961,278 151,345 677,857 130,602 612,910 582,979 12,116,971

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City of Marysville 2023 Financial Section
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2023

501 502 503 510 511 512

Fleet Facilities Information Unemployment Liability Medical
Maintenance Maintenance Services Insurance Insurance Insurance Total

Cash Flows from Operating Activities

Cash received from interfund charges 4,428,801 996,387 2,771,344 - 1,309,515 6,628,855 16,134,902
Cash paid to suppliers for goods and services (897,037) (476,337) (1,052,301) (2,924) (1,127,586) (6,771,924) (10,328,109)
Cash paid to employees for services (1,024,426) (729,709) (1,616,040) - - - (3,370,175)
Net Cash Provided by (Used in) Operating Activities 2,507,338 (209,659) 103,003 (2,924) 181,929 (143,069) 2,436,618

Cash Flows from Non-Capital financing activities

Insurance recoveries 40,190 - - - - - 40,190
Non-operating grants - - - - - 40,080 40,080
Net Cash Flows from non-Capital and related financing activities 40,190 - - - - 40,080 80,270

Cash Flows from Capital and Related Financing Activities

Acquisition and construction of capital assets (2,380,802) (7,194) (277,825) - - - (2,665,821)
Lease principal (80,102) - - - (80,102)
Lease interest (6,521) - - - - - (6,521)
Net Cash Provided by (Used in) Capital and Related
Financing Activities (2,467,425) (7,194) (277,825) - - - (2,752,444)

Cash Flows from Investing Activities

Purchase of investments - 89,741 (113,339) (20,952) (194,857) (414,820) (654,227)
Proceeds from sale of investments (73,136) - - - - - (73,136)
Interest on investments 1,167 6,435 24,812 4,770 6,752 91,589 135,525
Net Cash Provided by (Used in) Investing Activities (71,969) 96,176 (88,527) (16,182) (188,105) (323,231) (591,838)

Net Increase (Decrease) in Cash

and Cash Equivalents 8,134 (120,677) (263,349) (19,106) (6,176) (426,220) (827,394)

Cash and Cash Equivalents Beginning of Year 172,580 151,660 584,826 60,633 199,093 1,435,840 2,604,632

Cash and Cash Equivalents End of Year 180,714 30,983 321,477 41,527 192,917 1,009,620 1,777,238
Page 1 of 2

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City of Marysville 2023 Financial Section
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2023

501 502 503 510 511 512

Fleet Facilities Information Unemployment Liability Medical
Maintenance Maintenance Services Insurance Insurance Insurance Total
Reconciliation of Operating (Loss) to Net Cash
Provided by (Used in) Operating Activities

Operating Income (Loss) 1,140,131 (137,904) 79,568 (5,863) 181,929 (472,185) 785,676

Adjustments:
Depreciation 1,443,728 2,092 306,370 - - - 1,752,190

Change in assets and liabilities:

(Increase)/Decrease in inventories (34,712) - - - - - (34,712)
Increase/(Decrease) in accounts payable 62,354 (23,453) (127,955) 2,939 - 329,116 243,001
Increase (decrease) in other current liabilities (44,281) (44,281)
Increase/(Decrease) in net pension liability, DI, DO (59,882) (50,394) (154,980) - - - (265,256)
Net Cash Provided by (Used in) Operating Activities 2,507,338 (209,659) 103,003 (2,924) 181,929 (143,069) 2,436,618
Page 2 of 2

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City of Marysville 2023 Financial Section

Combining Statement of Net Position

Fiduciary Funds
December 31, 2023

643 650 Custodial

Drug Seizure Intergovernmental Funds
Assets
Cash and cash equivalents 71,719 1,668 73,387
Total Assets 71,719 1,668 73,387

Liabilities
Other liabilities 144 2,023 2,167
Total Liabilities 144 2,023 2,167

Net Position 71,575 (355) 71,220

The accompanying notes are an integral part of this statement

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City of Marysville 2023 Financial Section

Statement of Changes in Fiduciary Net Position

Fiduciary Funds
For the Year Ended December 31, 2023

643 650 Custodial

Drug Seizure Intergovernmental Funds
Additions
Drug seizures 15,021 - 15,021
State court fees collected - 361,068 361,068
Leasehold taxes - 5,310 5,310
Weapons permitting - 13,702 13,702
Building advisory - 10,605 10,605
Fingerprinting fees collected for other agencies - 4,134 4,134
Other fees collected for other agencies - 875 875
Total additions 15,021 395,694 410,715

Deductions
Drug seizures 347 - 347
State court fees remitted - 361,068 361,068
Leasehold taxes - 5,310 5,310
Weapons permitting - 14,103 14,103
Building advisory - 10,740 10,740
Fingerprinting fees collected for other agencies - 4,200 4,200
Other fees collected for other agencies - 875 875
Total deductions 347 396,296 396,643

Net increase (decrease) in fiduciary net position 14,674 (602) 14,072

Beginning Net Position 56,901 247 57,148

Ending Net Position 71,575 (355) 71,220

The accompanying notes are an integral part of this statement

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City of Marysville 2023 Statistical Section

STATISTICAL SECTION OVERVIEW

This part of the City of Marysville’s annual comprehensive financial report presents detailed information as a context
for understanding what the information in the financial statements, note disclosures and required supplementary
information say about the government’s overall financial health. The statistical section is organized by major
sections described below.

Financial Trends

These schedules contain information to assist the reader in understanding how the
City’s financial position has changed over time.

Revenue Capacity

These schedules contain information to assist the reader in understanding and assessing the
City’s most significant local revenue sources; water/sewer/surface water service fees and property taxes.

Debt Capacity

These schedules present information to assist the reader in understanding and assessing
the affordability of the City’s current levels of outstanding debt and the government’s ability to
issue additional debt in the future.

Demographic and Economic Information

These schedules offer demographic and economic indicators to assist the reader in
understanding the environment within which the City’s financial activities take place.

Operating Information

These schedules contain service and infrastructure data to help the reader understand how
the information in the government’s financial report relates to the services the city provides and the
activities it performs.

Sources: Unless otherwise noted, the information in the schedules is derived from the annual financial reports for
the relevant year.

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City of Marysville 2023 Statistical Section

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City of Marysville 2023 Statistical Section
STAT 1
NET POSITION BY COMPONENT
LAST TEN FISCAL YEARS
(accrual basis of accounting)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Governmental Activities
Net investment in capital assets $ 137,368,413 $ 140,810,400 $ 144,212,253 $ 148,708,065 $ 155,816,528 $ 159,736,625 $ 180,596,055 $ 200,848,851 $ 220,679,178 $ 238,551,212
Restricted 989,700 3,839,953 2,262,992 4,308,231 6,056,413 16,623,130 14,295,831 26,790,518 34,764,030 34,418,439
Unrestricted 16,024,164 10,317,772 24,363,378 24,780,759 25,686,947 20,394,419 26,988,768 34,444,795 18,568,299 22,193,555
Total governmental activities net position $ 154,382,277 $ 154,968,125 $ 170,838,623 $ 177,797,055 $ 187,559,888 $ 196,754,174 $ 221,880,654 $ 262,084,164 $ 274,011,507 $ 295,163,206

Business-type Activities
Net investment in capital assets $ 114,086,816 $ 106,818,354 $ 110,531,409 $ 116,082,683 $ 119,473,225 $ 130,958,557 $ 138,698,542 $ 139,310,402 $ 152,509,879 $ 175,752,462
Restricted 4,550,455 5,526,424 5,547,716 5,538,711 5,518,347 5,619,108 5,726,082 6,455,961 6,771,138 7,681,708
Unrestricted 20,292,994 26,927,156 23,714,131 25,889,043 29,765,261 40,533,742 34,767,699 44,256,070 50,409,636 55,016,542
Total business-type activities net position $ 138,930,265 $ 139,271,934 $ 139,793,256 $ 147,510,437 $ 154,756,833 $ 177,111,407 $ 179,192,323 $ 190,022,433 $ 209,690,653 $ 238,450,712

Primary Government
Net investment in capital assets $ 251,455,229 $ 247,628,754 $ 254,743,662 $ 264,790,748 $ 275,289,753 $ 290,695,182 $ 319,294,597 $ 340,159,253 $ 373,189,057 $ 414,303,674
Restricted 5,540,155 9,366,377 7,810,708 9,846,942 11,574,760 22,242,238 20,021,913 33,246,479 41,535,168 42,100,147
Unrestricted 36,317,158 37,244,928 48,077,509 50,669,802 55,452,208 60,928,161 61,756,467 78,700,865 68,977,935 77,210,097
Total primary government net position $ 293,312,542 $ 294,240,059 $ 310,631,879 $ 325,307,492 $ 342,316,721 $ 373,865,581 $ 401,072,977 $ 452,106,597 $ 483,702,160 $ 533,613,918

Net Position - Primary Government

$600,000,000

$500,000,000

$400,000,000

$300,000,000

$200,000,000

$100,000,000

$-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Net investment in capital assets Restricted Unrestricted

Source: Entity Wide Statements, Entity Wide Net Position Tab, Net Position Section (around line 42)

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City of Marysville 2023 Statistical Section

STAT 2a
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(accrual basis of accounting)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
EXPENSES
Governmental activities
Judicial $ 1,369,450 $ 1,350,483 $ 1,494,861 $ 1,409,968 $ 1,372,830 $ 1,479,415 $ 1,451,393 $ 1,123,656 $ 1,426,978 $ 1,608,299
General Government 3,586,931 5,507,340 3,603,151 3,833,055 4,310,306 6,520,829 6,682,787 4,052,317 8,191,731 8,654,810
Public Safety 25,154,574 25,654,989 27,246,035 29,378,604 29,615,366 31,485,845 23,954,869 24,302,171 29,535,417 32,652,054
Physical Environment 1,013,456 1,076,714 1,224,366 1,630,297 1,838,623 2,003,083 497,942 337,898 476,412 759,989
Transportation 6,448,078 8,420,679 7,944,384 8,678,946 8,692,781 8,572,406 9,537,250 7,922,978 10,289,903 13,641,915
Economic Environment 2,135,367 2,256,138 2,543,445 1,985,412 2,299,217 2,833,517 3,957,837 4,067,779 3,689,414 6,273,665
Health 33,371 40,693 23,594 12,811 70,863 76,467 156,550 419,018 321,013 621,112
Culture & Recreation 3,165,436 3,160,313 3,840,971 3,377,268 4,369,074 4,451,158 2,724,144 2,936,421 3,401,517 4,890,277
Interest on Long-term Debt 1,453,855 1,224,025 1,288,998 1,038,576 2,039,290 2,809,974 2,867,077 2,642,862 2,552,977 2,429,072
Total governmental activities expenses 44,360,518 48,691,374 49,209,805 51,344,937 54,608,350 60,232,694 51,829,849 47,805,100 59,885,363 71,531,193

Business-type activities
Water/Sewer/Surface Water $ 21,911,544 $ 23,038,255 $ 28,221,547 $ 26,040,860 $ 27,960,076 $ 28,380,188 $ 37,681,845 $ 31,465,610 $ 31,601,310 $ 33,559,478
Solid Waste 5,338,501 5,351,900 5,491,363 6,917,507 7,201,464 7,267,312 8,106,080 8,847,655 13,960,100 15,187,687
Golf 1,050,097 1,195,081 1,135,229 1,216,084 1,119,339 1,207,915 1,199,640 1,309,161 1,536,711 1,971,550

Total business-type activities 28,300,142 29,585,236 34,848,139 34,174,451 36,280,879 36,855,415 46,987,565 41,622,426 47,098,121 50,718,715

Total primary government expenses $ 72,660,660 $ 78,276,610 $ 84,057,944 $ 85,519,388 $ 90,889,229 $ 97,088,109 $ 98,817,414 $ 89,427,526 $ 106,983,484 $ 122,249,908

PROGRAM REVENUES
Governmental activities
Charges for Services:
Judicial $ 729,959 $ 746,871 $ 631,591 $ 762,199 $ 934,320 $ 467,221 $ 456,881 $ 292,719 $ 69,999 $ 157,014
General Government 4,198,818 3,763,483 3,113,252 3,589,885 3,744,627 2,296,161 1,425,293 1,592,231 2,103,339 2,228,627
Public Safety 999,881 1,103,582 859,651 1,027,128 1,042,593 667,811 1,624,076 945,450 391,254 443,630
Physical Environment 750 3,134 1,500 1,000 1,250 2,250 - - - -
Transportation 660,549 1,138,282 948,281 1,978,549 2,114,883 4,522,527 4,162,731 4,612,630 3,074,021 5,803,527
Economic Environment 2,100,299 1,720,524 2,031,443 1,779,045 2,231,919 5,573,351 4,724,585 5,808,384 4,187,886 8,473,810
Culture & Recreation 349,518 353,895 570,426 1,000,414 829,319 1,084,518 710,527 1,075,564 989,977 1,845,078
Operating grants and contributions 3,053,117 5,958,337 3,026,528 3,676,058 5,514,467 2,797,760 5,928,789 12,766,609 2,805,836 2,628,209
Capital grants and contributions 50,000 273,403 - 13,728 - 1,324,546 4,839,542 4,032,358 1,961,377 4,724,644
Total governmental activities program revenues 12,142,891 15,061,511 11,182,672 13,828,006 16,413,378 18,736,145 23,872,424 31,125,945 15,583,689 26,304,539

Business-type activities:
Charges for Services:
Water/Sewer/Surface Water $ 26,768,139 $ 30,258,766 $ 30,665,035 $ 33,547,693 $ 32,712,894 $ 38,352,476 $ 33,442,062 $ 39,902,148 $ 36,086,355 $ 43,284,094
Solid Waste 6,866,097 7,037,150 7,269,832 7,520,347 7,624,583 7,860,460 8,055,615 8,564,328 14,810,879 16,301,475
Golf 895,476 1,063,146 1,093,665 978,258 1,139,732 1,325,287 1,576,428 1,770,557 1,698,521 2,060,662
Operating grants and contributions 233,663 70,494 20,876 45,793 - - 854,987 1,184,658 5,141,871 2,867,212
Capital grants and contributions 1,560,763 771,052 766,209 662,206 2,959,173 12,213,859 6,438,695 3,115,511 10,406,761 16,256,832
Total business-type activities program revenues 36,324,138 39,200,608 39,815,617 42,754,297 44,436,382 59,752,082 50,367,787 54,537,202 68,144,387 80,770,275

Total primary government program revenues $ 48,467,029 $ 54,262,119 $ 50,998,289 $ 56,582,303 $ 60,849,760 $ 78,488,227 $ 74,240,211 $ 85,663,147 $ 83,728,076 $ 107,074,814

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City of Marysville 2023 Statistical Section

STAT 2b
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(accrual basis of accounting)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net (expense)/revenue
Governmental activities $ (32,217,627) $ (33,629,863) $ (38,027,133) $ (37,516,931) $ (38,194,972) $ (41,496,549) $ (27,957,425) $ (16,679,155) $ (44,301,674) $ (45,226,654)
Business-type activities 8,023,996 9,615,372 4,967,478 8,579,846 8,155,503 22,896,667 3,380,222 12,914,776 21,046,266 30,051,560
Total primary government net expense (24,193,631) (24,014,491) (33,059,655) (28,937,085) (30,039,469) (18,599,882) (24,577,203) (3,764,379) (23,255,408) (15,175,094)

GENERAL REVENUES & OTHER CHANGES

IN NET POSITION
Governmental activities:
Taxes
Property $ 16,146,732 $ 15,728,430 $ 15,915,807 $ 16,432,004 $ 17,540,346 $ 18,308,527 $ 14,586,429 $ 15,922,571 $ 16,125,862 $ 17,307,360
Sales 10,969,729 13,696,505 14,520,863 15,472,713 16,933,902 20,287,870 20,324,163 22,294,486 24,451,472 25,470,382
Business 3,272,989 3,477,925 3,305,925 6,593,380 6,470,971 6,488,053 6,428,258 6,665,515 6,868,797 7,377,860
Other 1,793,736 3,168,967 4,181,263 4,530,484 4,929,761 5,555,908 5,782,928 7,317,339 7,121,354 5,660,121
Investment Earnings 939,124 180,600 287,542 324,561 837,430 1,940,159 1,191,888 179,888 (30,277) 2,654,851
Special & Extraordinary Items 185,440 - - - (744,940) (9,711,276) - 3,009,824 740,856 225,409
Transfers 3,721,362 5,103,038 4,747,284 1,122,221 1,436,482 2,474,559 2,039,446 1,678,293 821,776 3,654,501
Total government activities 37,029,112 41,355,465 42,958,684 44,475,363 47,403,952 45,343,800 50,353,112 57,067,916 56,099,840 62,350,484

Business-type activities:
Investment Earnings $ 157,234 $ 108,266 $ 301,128 $ 259,556 $ 527,375 $ 923,239 $ 645,034 $ (57,476) $ (556,270) $ 2,361,644
Transfers (3,721,362) (5,103,038) (4,747,284) 1,122,221 (1,436,482) (2,474,559) (2,039,446) (1,678,293) (821,776) (3,654,501)
Total business-type activities (3,564,128) (4,994,772) (4,446,156) 1,381,777 (909,107) (1,551,320) (1,394,412) (1,735,769) (1,378,046) (1,292,857)

Total primary government general revenues $ 33,464,984 $ 36,360,693 $ 38,512,528 $ 45,857,140 $ 46,494,845 $ 43,792,480 $ 48,958,700 $ 55,332,147 $ 54,721,795 $ 61,057,627
& other changes in net position
CHANGE IN NET POSITION
Governmental activities 4,811,485 7,725,602 4,931,551 6,958,432 9,208,980 3,847,251 22,395,687 40,388,761 11,798,167 17,123,830
Business-type activities 4,459,868 4,620,600 521,322 7,717,181 7,246,396 21,345,347 1,985,810 11,179,007 19,668,220 28,758,703
Total primary government $ 9,271,353 $ 12,346,202 $ 5,452,873 $ 14,675,613 $ 16,455,376 $ 25,192,598 $ 24,381,497 $ 51,567,768 $ 31,466,387 $ 45,882,533

Source: Entity Wide Statements, Entity Wide Activities tab

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City of Marysville 2023 Statistical Section
STAT 3
FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(modified accrual basis of accounting)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
General Fund
Assigned to:
Restricted for:
Opiod Settlement $ - $ - $ - $ - $ - $ - $ - $ - $ 63,204 $ 95,591
Unassigned 14,224,582 14,756,671 17,360,240 17,890,333 18,331,221 20,070,120 27,554,118 28,731,027 21,181,405 25,385,630
Total general fund $ 14,224,582 $ 14,756,671 $ 17,360,240 $ 17,890,333 $ 18,331,221 $ 20,070,120 $ 27,554,118 $ 28,731,027 $ 21,244,609 $ 25,481,221

All other governmental funds

Restricted For:
Law Enforcement 88,758 187,600 282,976 21,923 77,815 101,039 119,423 99,962 110,031 73,364
Tourism 75,368 63,709 76,982 87,973 117,007 44,758 87,671 194,603 276,842 414,995
Technology Infrastructure 139,057 238,469 312,121 365,335 422,891 528,810 578,366 531,202 500,417 582,907
REET 81,653 274,188 1,237,167 1,939,407 3,962,592 7,949,349 691,169 6,408,556 10,171,827 5,821,114
Transportation Benefit Distric - - - 1,078,334 1,426,639 2,703,739 3,397,479 5,827,551 7,807,214 7,731,424
School Mitigation - - - - - 1,837,679 - - - -
Street Construction/Maint - - - - - 1,837,679 - - - -
Affordable Housing - - - - - - 86,082 - - -
Civic Campus Construction - - - - - 29,770,015 15,033,594 - - -
Capital Outlay - - - - - - - - - 1,527,055
Debt Service - - - - - 847,016 717,325 787,346 654,296 746,092
Grants - - - - - 208,487 16,745 16,745 26,481 135,280
Committed to:
Law Enforcement 85,020 54,161 38,319 38,666 11,125 6,923 6,995 7,036 7,121 45,272
Community Center 10,027 9,119 6,436 5,780 6,269 4,848 5,178 5,178 - -
Assigned to:
Civic Campus Construction - - - - 32,781,000 997,787 1,183,553 - - -
Streets 374,189 2,262,876 2,263,429 1,997,033 13,522,538 2,948,889 1,977,064 3,190,581 1,353,082 883,430
Parks Construction 124,804 249,022 34,033 422,661 - - - - - -
Debt Service 989,700 1,363,138 776,253 800,917 1,130,253 89,004 43,211 53,184 78,496 166,570
Unassigned 1,045,177 - - - (802,002) (377,103) (1,567,438) (1,307,225) (1,629,294) (662,311)
Total all other governmental funds $ 3,013,753 $ 4,702,282 $ 5,027,716 $ 6,758,029 $ 52,656,127 $ 49,498,919 $ 22,376,417 $ 15,814,719 $ 19,356,513 $ 17,465,192

General Fund - Unassigned Fund Balance

35,000,000

30,000,000

25,000,000

20,000,000

15,000,000

10,000,000

5,000,000

-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

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STAT 4
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(modified accrual basis of accounting)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

REVENUES
Taxes $ 34,542,134 $ 37,880,120 $ 39,684,473 $ 41,815,144 $ 44,811,311 $ 49,389,329 $ 45,921,284 $ 50,885,099 $ 53,219,616 $ 54,426,604
Licenses & Permits 2,251,750 1,856,916 2,245,458 2,163,799 2,387,517 3,104,682 2,727,107 2,947,529 2,959,548 4,401,970
Intergovernmental 4,042,241 7,202,783 4,168,675 4,826,504 6,705,570 5,056,117 9,671,493 16,390,099 9,871,777 7,859,691
Charges for Services 6,191,303 6,578,202 4,280,902 6,214,282 6,749,387 10,395,659 8,659,721 10,221,271 7,268,138 14,063,002
Fines & Forfeitures 585,865 647,959 517,004 443,952 509,396 639,385 506,214 486,364 324,721 326,716
Other Revenues 2,251,696 1,965,996 1,426,012 1,392,120 2,038,236 2,964,635 1,685,440 856,753 932,815 4,009,115
Total Revenues $ 49,864,989 $ 56,131,976 $ 52,322,524 $ 56,855,801 $ 63,201,417 $ 71,549,807 $ 69,171,259 $ 81,787,115 $ 74,576,615 $ 85,087,098

EXPENDITURES
General Government $ 6,648,721 $ 6,921,063 $ 4,840,595 $ 5,288,277 $ 5,905,566 $ 7,846,481 $ 8,310,352 $ 6,494,241 $ 7,485,396 $ 8,052,880
Security of Persons and Property 24,504,740 25,720,364 26,908,051 28,763,734 30,775,148 31,432,904 24,551,536 27,053,009 29,020,324 33,659,589
Physical Environment 1,021,108 1,096,568 1,187,622 1,656,661 1,911,924 2,033,124 616,687 641,568 615,703 916,817
Transportation 4,153,612 6,526,990 5,933,816 6,551,949 6,791,948 6,481,940 7,324,345 6,434,838 7,728,555 10,651,954
Economic Environment 2,118,549 2,469,400 2,535,744 2,482,083 2,795,288 3,122,034 4,768,578 4,691,874 3,936,863 6,586,706
Health & Human Services 33,371 40,693 23,594 12,811 70,863 76,467 156,550 419,018 321,013 621,112
Culture & Recreation 2,868,420 2,993,965 3,599,742 3,281,669 4,275,950 4,266,077 2,657,782 2,868,631 3,243,140 4,151,478
Capital Outlay 3,247,469 5,685,748 1,978,410 4,197,764 9,762,064 15,669,297 48,396,074 35,288,449 19,340,869 19,824,558
Debt Service
Principal 1,191,967 2,225,271 2,215,508 1,736,017 2,044,368 2,473,525 2,200,000 3,180,000 4,082,281 4,239,028
Interest 1,453,855 1,224,025 1,288,998 1,038,576 1,714,991 3,131,505 2,830,581 2,989,964 2,871,098 2,709,447
Other - - - - - 6,808 313,426 4,812 4,302 3,262
Total Expenditures $ 47,241,812 $ 54,904,087 $ 50,512,080 $ 55,009,541 $ 66,048,110 $ 76,540,162 $ 102,125,911 $ 90,066,404 $ 78,649,544 $ 91,416,831
EXCESS (DEFICIENCY) OF REVENUE
OVER (UNDER) EXPENDITURES $ 2,623,177 $ 1,227,889 $ 1,810,444 $ 1,846,260 $ (2,846,693) $ (4,990,355) $ (32,954,652) $ (8,279,289) $ (4,072,929) $ (6,329,733)

OTHER FINANCING SOURCES (USES)

Transfers in 10,439,187 9,578,841 8,188,285 10,341,720 11,175,076 11,476,987 24,080,896 15,527,158 25,696,922 25,848,883
Transfers out (10,114,195) (8,586,112) (7,167,570) (9,927,576) (10,034,453) (9,742,620) (22,109,040) (13,848,865) (24,875,146) (22,194,382)
Debt proceeds & capital leases 6,022,846 - - - 48,045,053 - 13,141,885 - - -
Refunding debt proceeds - - 5,207,805 - - - 4,320,000 - - -
Disposition of capital assets 16,286 - - - - - - 1,175,000 1,175,000 1,175,000
Insurance Recoveries - - - - - - - 41,207 17,434 163,064
SBITA - - - - - - - - - 337,184
Leases (lessee) - - - - - - - - 80,554 -
Payment to Refunding bond escrow agent - - (5,109,961) - - - (4,279,915) - - -

Total other financing sources (uses) 6,364,124 992,729 1,118,559 414,144 49,185,676 1,734,367 15,153,826 2,894,500 2,094,764 5,329,749

NET CHANGE IN FUND BALANCES $ 8,987,301 $ 2,220,618 $ 2,929,003 $ 2,260,404 $ 46,338,983 $ (3,255,988) $ (17,800,826) $ (5,384,789) $ (1,978,165) $ (999,984)

Debt service as percentage of

non-capital expenditures 6.01% 7.01% 7.22% 5.46% 6.68% 9.21% 9.36% 11.26% 11.72% 9.71%

Source: Government Fund Statements, Govt Funds Final Op Stmt

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121
City of Marysville 2023 Statistical Section
STAT 6a
WATER PRODUCED AND CONSUMED AND WASTEWATER TREATED
LAST TEN FISCAL YEARS

(units in millions) Total Direct Bi-Monthly Rates

Gallons of Gallons of Water Sewer
Water Wastewater Base Usage Base Usage
Year Produced Treated Rate* Rate Rate Rate

2014 1,572 1,764 $ 21.36 ** $ 79.61 $ 1.67

2015 1,717 1,810 $ 21.79 ** $ 81.20 $ 1.71
2016 1,718 1,988 $ 22.22 ** $ 82.73 $ 1.74
2017 2,021 1,963 $ 22.66 ** $ 84.49 $ 1.77
2018 1,832 2,024 $ 23.12 ** $ 86.18 $ 1.81
2019 1,869 1,679 $ 23.58 ** $ 87.90 $ 1.85
2020 1,864 2,000 $ 24.05 ** $ 89.66 $ 1.88
2021 2,108 2,176 $ 24.53 ** $ 91.45 $ 1.92
2022 2,142 2,223 $ 25.02 ** $ 93.28 $ 1.96
2023 2,231 1,951 $ 25.52 ** $ 95.14 $ 2.00

*Rate shown is for 5/8" meters (most common meter for single family households).

1st Tier 0 to 6,000 Gal $ 1.32

2nd Tier 7,000-20,000 Gal $ 4.62
3rd Tier 21,000-30,000 Gal $ 5.28
4th Tier 31,000 + Gal $ 5.94

See STAT 6d for other meter sizes and rates.

Water Produced vs. Wastewater Treated

2,400

2,200

2,000

1,800

1,600

1,400

1,200

1,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Water Produced Wastewater Treated

Source: City of Marysville Water/Sewer Utility Billing Department

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City of Marysville 2023 Statistical Section
STAT6b
ANNUAL CONNECTIONS
LAST TEN FISCAL YEAR
Water Sewer Total
Year Connections Connections Connections
2014* 2,182 112 2,294
2015 98 108 206
2016 107 144 251
2017 59 92 151
2018 188 236 424
2019 512 503 1,015
2020 382 382 764
2021 326 326 652
2022 276 186 462
2023 231 483 714

City of Marysville Connections

2,500

2,000

1,500

1,000

500

-
2014* 2015 2016 2017 2018 2019 2020 2021 2022 2023

Water Sewer

* The 2014 number includes the acquistion of the PUD Water customers
in the Sunnyside area (Southeast Marysville, 2,086 connections)
Source: City of Marysville Utility Department

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City of Marysville 2023 Statistical Section
STAT 6c

NUMBER OF WATER AND SEWER CUSTOMERS BY TYPE

LAST TEN FISCAL YEARS
WATER
Year Residential Commercial Other Total

2014* 19,898 1,024 206 21,128

2015 20,060 956 264 21,280
2016 20,097 985 179 21,261
2017 20,289 952 248 21,489
2018 20,420 951 233 21,604
2019 20,757 959 217 21,933
2020 21,284 981 261 22,526
2021 21,594 1,009 386 22,989
2022 21,836 1,023 406 23,265
2023 22,268 1,039 449 23,756

SEWER
Year Residential Commercial Other Total

2014 15,980 909 0 16,889

2015 16,172 900 0 17,072
2016 16,259 887 0 17,146
2017 16,429 901 0 17,330
2018 16,569 901 0 17,470
2019 16,972 905 0 17,877
2020 17,467 925 0 18,392
2021 17,756 941 0 18,697
2022 18,102 959 0 19,061
2023 18,575 969 0 19,544

* The 2014 number includes the acquistion of the PUD Water customers
in the Sunnyside area (Southeast Marysville, 2,086 connections)
Source: City of Marysville Water/Sewer Utility Billing Department

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City of Marysville 2023 Statistical Section
STAT 6d
WATER/SEWER/SURFACE WATER RATES
LAST TEN FISCAL YEARS
WATER RATE HISTORY
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Bi-Monthly Charge
3/4" Service (w/ 5/8" meter)
first 6,000 gallons $ 21.36 $ 21.79 $ 22.22 $ 22.66 $ 23.12 $ 23.58 $ 24.05 $ 24.53 $ 25.02 $ 25.52
per additional
1,000 gallons
1st Tier 0 to 6,000 Gal $ 1.15 $ 1.18 $ 1.20 $ 1.22 $ 1.25 $ 1.27 $ 1.30 $ 1.32 $ 1.35 $ 1.37
2nd Tier 7,000-20,000 Gal $ 4.02 $ 4.10 $ 4.18 $ 4.26 $ 4.35 $ 4.44 $ 4.52 $ 4.62 $ 4.71 $ 4.81
3rd Tier 21,000-30,000 Gal $ 4.59 $ 4.68 $ 4.78 $ 4.88 $ 4.97 $ 5.07 $ 5.17 $ 5.28 $ 5.39 $ 5.49
4th Tier 31,000 + Gal $ 5.17 $ 5.27 $ 5.38 $ 5.49 $ 5.60 $ 5.71 $ 5.82 $ 5.94 $ 6.06 $ 6.18

3/4" Service (w/ 3/4" meter)

first 9,000 gallons $ 32.05 $ 32.69 $ 33.34 $ 34.01 $ 34.69 $ 35.68 $ 36.09 $ 36.81 $ 37.55 $ 38.30
Commercial Rates per additional 1,000 gallons
1st Tier 0 to 6,000 Gal $ 1.15 $ 1.18 $ 1.20 $ 1.22 $ 1.25 $ 1.27 $ 1.30 $ 1.32 $ 1.35 $ 1.37
2nd Tier 7,000+ $ 2.88 $ 2.93 $ 2.99 $ 3.05 $ 3.11 $ 3.17 $ 3.24 $ 3.30 $ 3.37 $ 3.43

SEWER RATE HISTORY

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Single Family Residential
Bi-Monthly Flat
Rate $ 79.61 $ 81.20 $ 82.83 $ 84.49 $ 86.18 $ 87.90 $ 89.66 $ 91.45 $ 93.28 $ 95.14

Class 1 Commercial/Industrial
(per 1,000 gal) Bi-
Monthly* $ 1.67 $ 1.71 $ 1.74 $ 1.77 $ 1.81 $ 1.85 $ 1.88 $ 1.92 $ 1.96 $ 2.00
Minimum Charge* $ 79.61 $ 81.20 $ 82.83 $ 84.49 $ 86.18 $ 87.90 $ 89.66 $ 91.45 $ 93.28 $ 95.14

STORM WATER RATE HISTORY

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Residential (1 ERU = 3,200 sq.ft.)
1 ERU (bi-monthly rate) $ 21.64 $ 22.08 $ 22.52 $ 22.98 $ 23.42 $ 23.90 $ 24.38 $ 24.86 $ 25.36 $ 25.86
Non-Residential (1 ERU = 3,200 sq.ft.)
sq.ft. of impervious surface/1 ERU $ 21.64 $ 22.08 $ 22.52 $ 22.98 $ 23.42 $ 23.90 $ 24.38 $ 24.86 $ 25.36 $ 25.86

Source: City of Marysville Water/Sewer Utility Billing Department

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City of Marysville 2023 Statistical Section
STAT 6e
CURRENT YEAR AND TEN YEARS AGO
2023 Water Revenue 2014 Water Revenue
Customer Amount Rank % Amount Rank %

NATIONAL FOOD CORP^ 57,615 1 0.50%

AFFINITY AT ARLINGTON LLC 48,035 2 0.42%
CITY OF MARYSVILLE 47,690 3 0.42%
SMOKEY POINT APARTMENTS LLC 45,682 4 0.40%
VINTAGE AT LAKEWOOD LLC 39,913 5 0.35%
UTILITY INVOICE PROCESSING CEN 36,845 6 0.32%
SMOKEY POINT MOBILE PARK 27,539 7 0.24%
MP SMOKEY POINT LLC 25,695 8 0.23%
KLEIN FAMILY PROPERTIES LLC 25,667 9 0.22%
KLEIN FAMILY PROPERTIES LLC 25,469 10 0.22%
NATIONAL FOOD CORP^ $ $ 52,620 1 0.65%
ARMY UTILITY INVOICE PROCESSING CENTER 37,251 2 0.46%
SMOKEY POINT MOBILE PARK 25,190 3 0.31%
CITY OF MARYSVILLE 20,345 4 0.25%
MOBILE MANOR-OFFICE 19,968 5 0.25%
WINDSOR SQUARE APARTMENTS 19,455 6 0.24%
LAKEWOOD SCHOOL DISTRICT #306 19,089 7 0.24%
MIDWAY GARDEN MOBILE HOME PK 18,393 8 0.23%
CASITA APARTMENTS 16,308 9 0.20%
QUILCEDA CREEK APARTMENTS LLC 15,873 10 0.20%

Subtotal 380,149 3.33% 244,493 3.04%

Balance from other customers 11,038,376 96.67% 7,801,148 96.96%

Grand Total 11,418,525 100.00% 8,045,641 100.00%

2023 Sewer Revenue 2014 Sewer Revenue

Customer Amount Rank % Amount Rank %
AFFINITY AT ARLINGTON LLC $ 137,820 1 0.89% $
VINTAGE AT LAKEWOOD, LLC 106,480 2 0.69%
MP SMOKEY PT LLC 77,017 3 0.50%
KLEIN FAMILY PROPERTIES LLC 72,963 4 0.47%
KLEIN FAMILY PROPERTIES LLC 72,963 5 0.47%
NATIONAL FOOD NW LLC 67,739 6 0.44%
SMOKEY POINT MOBILE PARK 67,281 7 0.44%
BEST WESTERN HOTEL 60,323 8 0.39%
CMJ66 CORP 58,581 9 0.38%
GLENWOOD MOBILE ESTATES 56,753 10 0.37%
SMOKEY POINT MOBILE PARK $ 56,457 1 0.52%
NATIONAL FOOD CORP^ 50,063 2 0.47%
MEDALLION HOTEL 48,613 3 0.45%
GLENWOOD MOBILE ESTATES 47,623 4 0.44%
WINDSOR SQUARE APARTMENTS 43,465 5 0.40%
GREENMAN III, ROBERT F^ 40,820 6 0.38%
BEST WESTERN HOTEL 33,799 7 0.31%
HOLIDAY INN EXPRESS-MARYSVILLE 33,351 8 0.31%
EMERITUS CORP 31,693 9 0.29%
MIDWAY GARDEN MOBILE HOME PK 30,841 10 0.29%

Subtotal 777,922 5.04% 416,725 3.87%

Balance from other customers 14,645,518 94.96% 10,348,259 96.13%
Grand Total $ 15,423,440 100.00% $ 10,764,984 100.00%
Source: City of Marysville Water/Sewer Utility Billing Department

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City of Marysville 2023 Statistical Section
STAT 7a
TAXABLE ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF PROPERTY
LAST TEN FISCAL YEARS

Changes Post Total Taxable Total

Multi- State Certification
Fiscal Residential Commercial Industrial Agricultural Family Other Personal Assessed Less: Tax Assessed Direct
Year Property Property Property Property Property Property Property Personal Prop. Exempt Property Value 1 Tax Rate 2
2014 3,420,713,877 699,920,514 104,962,300 4,243,800 283,349,800 172,990,543 96,376,676 51,092,852 35,691,959 4,869,342,321 3.189
2015 3,998,010,873 734,832,965 105,795,900 4,007,400 310,384,171 157,507,439 114,477,825 53,916,643 4,765,569 5,483,698,785 2.865
2016 4,397,186,638 761,536,165 109,422,000 4,589,400 331,068,803 191,180,700 122,490,224 55,995,362 3,347,522 5,976,816,814 2.682
2017 4,746,796,849 815,479,265 104,764,100 5,700,300 396,633,317 171,020,966 128,931,009 56,337,411 (514,120) 6,425,149,097 2.548
2018 5,289,535,729 863,754,495 110,322,200 6,514,600 499,825,740 185,271,580 130,138,709 55,963,510 2,763,280 7,144,089,843 2.470
2019 5,934,218,610 972,825,400 119,574,600 9,525,900 554,008,940 193,825,300 140,320,012 61,702,218 - 7,986,000,980 2.280
2020 6,560,204,641 1,056,604,990 127,422,200 10,655,400 640,055,960 87,780,900 147,321,652 64,858,875 168,378,900 8,863,283,518 1.651
2021 7,183,130,486 1,205,972,442 137,874,800 16,252,600 698,796,090 267,686,060 153,821,571 65,960,167 (153,821,571) 9,575,672,645 1.602
2022 8,190,323,443 1,273,057,920 144,687,800 12,581,700 775,251,783 274,923,540 162,927,705 67,010,896 (162,927,705) 10,737,837,082 1.496
2023 10,539,535,335 1,473,590,120 170,963,400 10,385,200 929,570,040 375,745,600 165,942,374 74,271,363 (3,083) 13,740,000,349 1.259

1
Washington State law requires all property be assessed at 100% of its true and fair market value.
2
Tax rates are per $1,000 of assessed value. Detail of tax rates can be found in Stat 7c.

Annual Taxable Assessed Value - City of Marysville

16,000,000,000

14,000,000,000

12,000,000,000

10,000,000,000

8,000,000,000

6,000,000,000

4,000,000,000

2,000,000,000

-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Source: Snohomish County Assessor's Office

Christoff Huyboom provides the information on personal property and State assessed property
Laura Washabaugh provides the real property information, columns B to G

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City of Marysville 2023 Statistical Section
STAT 7b
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS

Collected within the

Fiscal Year Total Tax Assessor's Adjusted Total Fiscal Year of the Levy Collections in Total Collections to Date
Ended Levy for Certification Tax levy for Percentage of Subsequent Percentage of
December 31 Fiscal Year Adjustments Fiscal Year Amount Adjusted Levy Years Amount Adjusted Levy
2014 15,528,646 1,531,678 17,060,324 16,813,473 96.1% 199,189 17,012,662 99.7%
2015 15,709,247 1,849,844 17,559,091 17,302,532 95.8% 214,057 17,516,589 99.8%
2016 16,025,914 2,458,844 18,484,758 18,238,891 93.6% 202,333 18,441,224 99.8%
2017 16,369,551 3,136,902 19,506,452 19,219,979 93.5% 231,280 19,451,259 99.7%
2018 17,643,646 3,393,420 21,037,067 20,800,503 91.4% 171,799 20,972,302 99.7%
2019 18,207,635 4,116,938 22,324,573 21,971,495 93.2% 274,646 22,246,141 99.6%
2020 14,637,062 4,494,275 19,131,336 18,557,760 114.8% 496,384 19,054,144 99.6%
2021 15,588,602 6,017,583 21,606,185 21,375,617 85.9% 135,285 21,510,901 99.6%
2022 16,316,886 5,418,488 21,735,374 21,533,832 98.3% 98,976 21,632,808 99.5%
2023 17,300,533 3,893,717 21,194,249 20,959,159 98.9% 130,079 21,089,238 99.5%

Comparison of Tax Levied to Tax Collected within Fiscal

Year
25,000,000

20,000,000

15,000,000

10,000,000

5,000,000

-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Adjusted Total Tax Levy Tax Collected in Fiscal Year

Comparison of Tax Levied to Total Tax Collected To Date

25,000,000

20,000,000

15,000,000

10,000,000

5,000,000

-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Adjusted Total Tax Levy Total Tax Collected to Date

Source: Snohomish County Treasurer's Office

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City of Marysville 2023 Statistical Section

STAT 7c
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
(rate per $1,000 of assessed value)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

City Direct Rates:

Regular $2.717 $2.437 $2.278 $2.161 $1.970 $1.783 $1.151 $1.102 $1.002 $0.814
Subtotal-Regular Levy $2.717 $2.437 $2.278 $2.161 $1.970 $1.783 $1.151 $1.102 $1.002 $0.814

Emergency Medical 0.472 0.428 0.404 0.387 0.500 0.497 0.500 0.500 0.494 0.445
86 GO Bond 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
City Total $3.189 $2.865 $2.682 $2.548 $2.470 $2.280 $1.651 $1.602 $1.496 $1.259

Overlapping Taxes:

County 1.079 0.999 0.933 0.879 0.791 0.717 0.665 0.636 0.598 0.477
Fire District 1.450 1.375 1.257 1.028
State School 2.384 2.279 2.124 2.028 2.848 2.566 2.860 2.825 2.665 2.229
Local School 5.342 6.020 5.594 5.439 5.074 3.866 3.968 4.005 3.693 0.661
Library District 0.500 0.468 0.442 0.415 0.380 0.470 0.441 0.424 0.392 0.311
9.305 9.766 9.093 8.761 9.093 7.619 9.384 9.266 8.605 4.707
Grand Total $12.494 $12.631 $11.775 $11.309 $11.563 $9.899 $11.04 $10.87 $10.10 $5.97

Property Tax Rate History

14.000

12.000

10.000

8.000

6.000

4.000

2.000

0.000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Overlapping Property Tax Rate City Property Tax Rate

Source: Snohomish County Assessor's Office

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City of Marysville 2023 Statistical Section

STAT 7d
PRINCIPAL PROPERTY TAXPAYERS
Principal Taxpayers Historical Comparison
2023 2014
As a As a
Percentage Percentage
Assessed Total City Assessed Total City
Taxpayer Common Name Service or Valuation(1) Rank Valuation(1) Valuation(2) Rank Valuation(2)
Product
CARROLLS CREEK APARTMENTS PROP OWN Carrolls Creek Landing Apartments $ 75,264,300 1 0.55%
MARYSVILLE INVESTMENT PARTNERS LLC 53,168,000 2 0.39%
SMOKEY POINT APARTMENTS III LLC Smokey Pt Apartments Apartments 50,078,291 3 0.36%
SMOKEY POINT COMMERCIAL LL LLC 44,637,500 4 0.32%
SMOKEY POINT APARTMENTS LLC Smokey Pt Apartments Apartments 43,912,000 5 0.32%
SMOKEY POINT APARTMENTS II LLC Smokey Pt Apartments Apartments 39,366,679 6 0.29%
SAGW LLC 37,103,300 7 0.27%
M & D PROPERTIES LLC 36,965,500 8 0.27%
MOR & MOR COMMERCIAL LLC 29,699,900 9 0.22%
GRANDVIEWS REMINGTON PLACE 28,994,700 10 0.21%

Gateway Trident LLC 18111 25th Ave Apartments $ 23,603,497 1 0.48%

Northwest Composites Inc. 12806 State Ave Manufacturing 23,121,000 2 0.47%
Inland Western Marysville LLC Safeway Plaza Shopping Center 22,055,500 3 0.45%
Puget Sound Energy Natural Gas 20,448,697 4 0.42%
Invitation Homes Property Mgmt 19,377,900 5 0.40%
ROIC Washington LLC Property Mgmt 18,808,900 6 0.39%
MGP IX Marysville LLC Property Mgmt 15,729,600 7 0.32%
Everett Clinic Investment 15,690,600 8 0.32%
Wal-Mart Real Estate Business Trust Retail 15,288,983 9 0.31%
Smokey Pt Invstmt - Undi Fam LLC Communication 15,231,000 10 0.31%
$ 439,190,170 3.20% $ 189,355,677 3.89%

Top Ten Principal Property Tax Payer AV Comparison

2023 vs. 2014

$80,000,000

$70,000,000

$60,000,000

$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,000

$-
1 2 3 4 5 6 7 8 9 10

2023 AV 2014 AV

Source: Snohomish County Assessor's Office, City of Marysville.

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City of Marysville 2023 Statistical Section

STAT 7e
PRINCIPLE SALES TAXPAYERS
LAST TEN FISCAL YEARS
Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid Taxes Paid
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Retail Trade $4,380,304 $4,772,180 $5,157,005 $5,345,112 $5,769,294 $6,796,375 $7,508,206 $9,080,851 $9,078,952 $9,159,419
Construction 867,921 951,929 968,884 1,168,537 1,196,662 1,573,568 1,868,144 1,840,231 3,043,735 3,342,827
Accommodation and Food Services 755,532 789,244 847,262 944,726 1,053,482 1,077,614 1,012,066 1,258,723 1,311,434 1,432,300
Wholesale Trade 455,296 501,951 498,607 494,377 640,652 651,018 590,765 729,318 746,920 775,830
Information 431,194 481,607 466,061 468,010 472,528 481,730 477,003 539,384 562,004 609,971
Other Services (except Public Administration) 260,639 282,372 319,958 334,959 332,744 354,479 323,211 389,032 504,148 562,432
Administrative and Support and Waste Management 96,463 107,300 111,628 122,014 226,163 306,309 443,581 543,533 602,901 794,487
Manufacturing 149,501 153,873 104,156 143,092 188,111 197,067 196,720 196,244 216,867 241,320
Real Estate and Rental and Leasing 84,208 102,713 136,839 142,257 121,152 140,950 121,542 124,364 172,739 189,911
All Other Categories 298,516 330,814 358,076 419,193 340,630 374,912 391,727 521,884 541,803 550,566
Other Sales Tax - Criminal Justice, TBD, (Streamline) 3,079,118 4,258,371 5,461,105 5,791,494 6,183,946 8,033,422 4,490,057 6,558,086 7,301,078 7,500,400
Total Paid $10,858,692 $12,732,354 $14,429,581 $15,373,770 $16,525,363 $19,987,444 $17,423,022 $21,781,648 $24,082,581 $25,159,463

Data Source:
State of Washington, Department of Revenue

Principle Taxpayers
2023
Other Sales Tax - Criminal Justice, TBD, (Streamline) 7,500,400

All Other Categories 550,566

Real Estate and Rental and Leasing 189,911

Manufacturing 241,320

Administrative and Support and Waste Management 794,487

Other Services (except Public Administration) 562,432

Information 609,971

Wholesale Trade 775,830

Accommodation and Food Services 1,432,300

Construction 3,342,827

Retail Trade $9,159,419

$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000

131
City of Marysville 2023 Statistical Section

STAT 7f
DIRECT AND OVERLAPPING SALES TAX RATES
LAST TEN FISCAL YEARS

Overlapping Taxes
Direct City Transportation City Public Safety Snohomish County State of Washington Community Transit Total Direct and
Year Sales Tax Rate Benefit District Sales Tax Rate Sales Tax Rate Sales Tax Rate Sales Tax Rate Overlapping Rate
2014 1.05% N/A 0.10% 0.25% 6.30% 0.90% 8.60%
2015 1.05% 0.20% 0.10% 0.25% 6.30% 0.90% 8.80%
2016 1.05% 0.20% 0.10% 0.25% 6.30% 1.20% 9.10%
2017 1.05% 0.20% 0.10% 0.25% 6.30% 1.20% 9.10%
2018 1.05% 0.20% 0.10% 0.25% 6.30% 1.20% 9.10%
2019 1.15% 0.20% 0.10% 0.35% 6.30% 1.20% 9.30%
2020 0.95% 0.20% 0.10% 0.35% 6.50% 1.20% 9.30%
2021 0.95% 0.20% 0.10% 0.35% 6.50% 1.20% 9.30%
2022 0.95% 0.20% 0.10% 0.45% 6.50% 1.20% 9.40%
2023 0.95% 0.20% 0.10% 0.45% 6.50% 1.20% 9.40%

Percent of Overlapping Debt by Jurisdiction

Community Transit Direct City Sales Tax Transportation

Rate Benefit District City Public Safety
Sales Tax Rate 2% Sales Tax Rate
13% 10%
1%
Snohomish County
Sales Tax Rate
5%

State of Washington
Sales Tax Rate
69%

Data Source:
State of Washington

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City of Marysville 2023 Statistical Section
STAT 8
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS

Governmental Type Activities Business-Type Activities

General Public Works Special General Public Works Total Percentage
Obligation Trust Fund Assessment Interlocal Obligation Revenue Trust Fund Primary of Personal Per
Year Bonds^ Loans Bonds Agreement Bonds^^^ Bonds^^^ Loans^^^ Government Income* Capita**
2014 26,546,088 - 6,022,846 412,216 1,730,707 46,124,141 11,868,542 91,128,651 0.26% 1,467
2015 25,212,563 - 5,107,846 311,571 1,448,434 43,111,873 10,537,695 85,729,982 0.23% 1,337
2016 24,156,842 - 4,250,000 238,910 1,148,460 40,484,604 9,206,939 79,485,755 0.20% 1,224
2017 22,713,515 - 3,920,000 162,893 830,245 37,787,607 7,876,183 73,290,442 0.18% 1,112
2018 69,010,242 - 3,590,000 83,525 555,500 35,004,643 6,545,425 114,789,335 0.26% 1,712
2019 67,038,440 - 2,900,000 - 380,000 32,116,679 5,214,669 107,649,788 0.23% 1,587
2020 77,998,187 - 2,540,000 - 195,000 29,108,715 3,883,913 113,725,815 0.22% 1,608
2021 74,984,658 - 2,215,000 - - 25,965,749 2,553,156 105,718,563 0.20% 1,484
2022 70,974,644 - 1,815,000 - - 22,677,785 1,275,031 96,742,460 0.16% 1,350
2023 66,831,482 - 1,525,000 - - 19,229,821 526,318 88,112,621 0.15% 1,194

*See Stat 13 for personal income data

**See Stat 13 for population data
^ Due to ACFR Review, GO Bond data has been updated for 08-12, 15 and 16

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City of Marysville 2023 Statistical Section
STAT 9

RATIOS OF GENERAL BONDED DEBT OUTSTANDING

LAST TEN FISCAL YEARS
General Percent of
Obligation Less Debt Net Taxable Per
1&4
Year Bonds Service Funds Bonded Debt Assessed Value 2 Capita 3
2014 28,276,795 27,168 28,249,627 0.57% 451
2015 26,660,997 30,087 26,630,910 0.46% 415
2016 25,305,302 41,601 25,263,701 0.41% 389
2017 23,543,760 49,092 23,494,668 0.36% 357
2018 69,065,742 66,028 68,999,714 0.96% 1029
2019 67,383,277 89,004 67,294,273 0.84% 992
2020 78,193,187 43,211 78,149,976 0.88% 1105
2021 74,984,658 53,184 74,931,474 0.78% 1052
2022 70,974,644 78,496 70,896,148 0.66% 989
2023 66,831,482 166,570 66,664,912 0.49% 904

General Bonded Debt Outstanding

90,000,000
80,000,000
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
-
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

1 See Stat 8 - governmental type activities general obligation bonds + business type activities general obligation bonds =
general obligation bonds
2 See Stat 7a for property value data
3 See Stat 13 for population data
4 Due to ACFR Review of 2016 Stats,. GO Bond totals needed to be updated for 2015 and 2016
Source: City of Marysville

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City of Marysville 2023 Statistical Section
STAT 10

DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

AS OF DECEMBER 31, 2023
Estimated Estimated Share
Debt Percentage of Overlapping
Governmental Unit Outstanding Applicable* Debt
Debt repaid with property taxes
Snohomish County $ 345,506,131 6.26% $ 21,632,082
Marysville School District No. 25 36,586,000 79.89% 29,226,736
Lake Stevens School District No. 4 106,465,000 11.21% 11,930,813
Lakewood School District No. 306 48,180,000 23.17% 11,162,808

Other debt
-

Subtotal, overlapping debt 73,952,439

City direct debt 68,356,482

Total direct and overlapping debt $ 142,308,921

* The percentage of overlapping debt applicable is estimated using taxable assessed property values.
Applicable percentages were estimated by determining the portion of another governmental unit's
taxable assessed value that is within the city's boundaries and dividing it by each unit's total taxable
assessed value.

Percent of Overlapping Debt by Jurisdiction

Snohomish
County
15%

City of
Marysville
48%
Marysville
School District
21%

Lake Stevens
Lakewood School District
School District 8%
8%

Sources: Assessed value used to estimate applicab le percentages was provided b y the Snohomish County
Assessor's Office. Deb t outstanding provided b y each government unit.

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City of Marysville 2023 Statistical Section

STAT 11

LEGAL DEBT MARGIN INFORMATION

LAST TEN FISCAL YEARS

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Assessed Value (AV) 4,869,342,321 5,483,698,785 5,976,816,814 6,425,149,097 7,144,089,843 7,986,000,980 8,863,283,518 9,729,494,216 10,902,282,244 13,740,000,349

Non-voted debt limit (1.5% of AV) 73,040,135 82,255,482 89,652,252 96,377,236 107,161,348 119,790,015 132,949,253 145,942,413 163,534,234 206,100,005
Debt applicable to limit:
Total general obligation debt 25,530,000 24,290,000 23,110,000 21,780,000 62,800,000 61,100,000 70,850,000 67,995,000 64,355,000 60,575,000
Less: Amount set aside for
repayment of GO debt (27,168) (30,087) (41,600) (49,092) (66,027) (89,004) (43,211) (53,184) (77,599) (166,570)
Total net debt applicable to limit 25,502,832 24,259,913 23,068,400 21,730,908 62,733,973 61,010,996 70,806,789 67,941,816 64,277,401 60,408,430
Legal Debt Margin 47,537,303 57,995,569 66,583,852 74,646,328 44,427,375 58,779,019 62,142,464 78,000,597 99,256,832 145,691,575

Total net debt applicable to the

limit as a % of debt limit 34.92% 29.49% 25.73% 22.55% 58.54% 50.93% 53.26% 46.55% 39.31% 29.31%

Voted debt limit (1% of AV) 48,693,423 54,836,988 59,768,168 64,251,491 71,440,898 79,860,010 88,632,835 97,294,942 109,022,822 137,400,003
Debt applicable to limit:
Total general obligation debt - - - - - - - - - -
Less: Amount set aside for
repayment of GO debt - - - - - - - - - -
Total net debt applicable to limit - - - - - - - - - -
Legal Debt Margin 48,693,423 54,836,988 59,768,168 64,251,491 71,440,898 79,860,010 88,632,835 97,294,942 109,022,822 137,400,003

Total net debt applicable to the

limit as a % of debt limit 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Total Net Debt Applicable to Limit as a % of Debt Limit

70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Non-voted Debt Voted Debt

136
City of Marysville 2023 Statistical Section

STAT 12

PLEDGED-REVENUE COVERAGE
LAST TEN FISCAL YEARS

SEWER AND WATER REVENUE BONDS SPECIAL ASSESSMENT BONDS

Utility Utility Net Special

Service Operating Available Debt Service Assessment Debt Service
Year Charges Expenses (1) Revenue Principal Interest Coverage Collections Principal Interest Coverage

2014 23,906,695 15,991,055 7,915,640 2,145,000 1,719,367 2.05 1,722,963 - - -

2015 25,505,609 17,260,372 8,245,237 2,710,000 1,641,719 1.89 1,435,522 915,000 147,393 1.35

2016 25,976,164 17,683,085 8,293,079 2,325,000 1,525,875 2.15 454,196 857,846 195,201 0.43

2017 27,071,785 18,078,697 8,993,088 2,420,000 1,431,450 2.33 516,875 330,000 170,335 1.03

2018 27,476,992 19,478,835 7,998,157 2,505,000 1,345,050 2.08 796,549 330,000 159,280 1.63

2019 28,176,106 18,844,284 9,331,822 2,610,000 1,122,300 2.50 616,621 690,000 148,225 0.74

2020 28,793,223 19,789,347 9,003,876 2,730,000 1,122,300 2.34 348,287 360,000 120,350 0.73

2021 32,189,821 21,204,470 10,985,351 2,865,000 982,425 2.86 501,498 360,000 105,410 1.08

2022 31,757,378 23,141,751 8,615,627 3,010,000 835,550 2.24 410,715 400,000 91,923 0.83

2023 35,013,602 22,569,429 12,444,173 3,330,000 518,550 3.23 383,163 290,000 75,323 1.05

(1) Excludes depreciation, amortization

137
City of Marysville 2023 Statistical Section
STAT 13

DEMOGRAPHIC AND ECONOMIC STATISTICS

LAST TEN FISCAL YEARS

Personal
City of Income(2) Per Capita Unemployment
Marysville (millions Personal Rate - % of Median School
Year Population(1) of dollars) Income(2) Labor Force(3) Age(4) Enrollment (5)
2014 62,600 34,156 44,967 5.2% 38.34 11,347
2015 64,140 36,633 48,488 4.7% 38.57 11,227
2016 64,940 39,370 49,970 4.3% 38.87 11,085
2017 65,900 41,661 51,879 4.1% 39.08 11,180
2018 67,040 44,722 54,934 3.8% 39.22 11,092
2019 67,820 47,617 57,900 3.0% 39.39 11,000
2020 70,714 51,706 62,805 7.8% 39.39 10,340
2021 71,250 57,396 67,885 3.8% 38.20 10,270
2022 72,380 57,974 69,010 3.2% 38.72 10,132
2023 73,780 60,003 * 71,425 * 3.6% 38.97 10,058

City of Marysville Population

76,000
74,000
72,000
70,000
68,000
66,000
64,000
62,000
60,000
58,000
56,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Sources:
(1) Washington Ste Office of Financial Management, Forecasting Division
(2) United States Bureau of Economic Analysis. Figures are for all of Snohomish County
(3) Washington State Employment Security Department. Figures are for all of Snohomish County
(4) Washington State Office of Financial Management, Forecasting Division. Figures are for Snohomish County
(5) Office of Superintendent of Public Instruction, Washington State Report Card
* City calculated estimates.

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City of Marysville 2023 Statistical Section
STAT 14a
MAJOR EMPLOYERS WITHIN THE CITY OF MARYSVILLE
CURRENT YEAR AND TEN YEARS AGO

2023

Percentage of
Total City
Name of Employer Service or Product Employees Rank Employment (1)
Marysville School District Education 1,071 1 10.34%

C&D Zodiac (f/k/a Northwest Composites) Plastics/honeycomb tubing 540 2 5.22%

City of Marysville City government 409 3 3.95%
Smokey Point Behaviorial Hospital Hospital 256 4 2.47%
Walmart Retail - variety 238 5 2.30%
Fred Meyer, Inc. Retail - variety 201 6 1.94%
The Everett Clinic Medical 163 7 1.57%
Madeline Villa Health Care Health care center 162 8 1.56%
Costco Retail - Warehouse Club 156 9 1.51%
Marysville Care Center Health care center 153 10 1.48%
Winco Foods Grocery/pharmacy 151 11 1.46%
Soil Organics Organic Herbs and Greens grower 147 12 1.42%
Marysville Toyota Auto Dealership 106 13 1.02%
Marysville Ford Auto Dealership 105 14 1.01%
Safeway Grocery/pharmacy 102 15 0.99%
Marysville Honda Auto Dealership 101 16 0.98%
Target Retail - variety 100 17 0.97%
Albertson's Grocery/pharmacy 99 18 0.96%
UPS Package Package Delivery 77 19 0.74%
Evergreen Restaurant Group Outback and Bonefish Grill 55 20 0.53%
Dicks Sporting Goods Retail - Sporting Goods 54 21 0.52%
Hobby Lobby Craft Supplies 46 22 0.44%
Haggens Grocery/pharmacy 43 23 0.42%
Chick Fil A Restaurant 41 24 0.40%
Burlington Coat Factory Retail 41 24 0.40%
Walgreens Retail - variety 40 26 0.39%
Evans Manufacturing Metal Fabrication 40 26 0.39%
KR Cabinetry Cabinet and Countertop 39 28 0.38%
Coastal Retail 38 29 0.37%
Camping World RV and Outdoor Retail 35 30 0.34%
Superior Rail & Awning Rail and Balcony Manufacturing 31 31 0.30%
Gravitics Space Modudule Manufacturing 31 31 0.30%
Red Robin Restaurant 29 33 0.28%
Parr Lumber Lumber and wood products 28 34 0.27%
Playa Bonita Restaurant 27 35 0.26%
Petco Pet Supplies 27 35 0.26%
Oreilys Auto Parts 27 35 0.26%
PetSmart Pet Supplies 26 38 0.25%
Harbor Freight Retail Tools 24 39 0.23%
McDonalds Restaurant 24 39 0.23%
Rock Solid Restaurants LLC Hop N Drops 22 41 0.21%
Mutual Materials Home Outdoor Supply 22 41 0.21%
Jimmy John's Sandwich Shop 22 41 0.21%
Popeyes Restaurant 22 41 0.21%
Bartell's Retail 22 41 0.21%
Village Tap House and Grill Restaurant 20 46 0.19%
Dickey's BBQ Restaurant 19 47 0.18%
California Burrito Restaurant 18 48 0.17%
Gale Contractors Contractor service products 17 49 0.16%
Jersey Mike's Sandwich Shop 16 50 0.15%
Largo Tents Tent, Canopy Manufacturing 15 51 0.14%
Coconut Kenny's Restaurant 14 52 0.14%
Sound Harley Davidson Motorcycle Shop 14 52 0.14%
5,326 51.44%

(1) Total City Em ploym ent Es tim ated by City Managem ent
Source: City of Marysville, Snohom ish County Econom ic Developm ent Council, and individual em ployers

139
City of Marysville 2023 Statistical Section
STAT 14b
MAJOR EMPLOYERS WITHIN THE CITY OF MARYSVILLE
CURRENT YEAR AND TEN YEARS AGO

2014

Percentage of
Total City
Name of Employer Service or Product Employees Rank Employment (2)
Marysville School District Education 1,394 1 17.43%

C&D Zodiac (f/k/a Northwest Composites) Plastics/honeycomb tubing 670 2 8.38%

Walmart Retail - variety 295 3 3.69%
City of Marysville City government 258 4 3.23%
Fred Meyer, Inc. Retail - variety 218 5 2.73%
The Everett Clinic Medical 172 6 2.15%
Marysville Care Center Health care center 162 7 2.03%
Target Retail - variety 157 8 1.96%
Winco Foods Grocery/pharmacy 145 9 1.81%
Costco Retail - Warehouse Club 133 10 1.66%
Safeway Grocery/pharmacy 118 11 1.48%
Madeline Villa Health Care Health care center 107 12 1.34%
Albertson's Grocery/pharmacy 96 13 1.20%
Kmart Retail - variety 78 14 0.98%
Walgreens Retail - variety 47 15 0.59%
Petco Pet Supplies 36 16 0.45%
Parr Lumber Lumber and wood products 25 17 0.31%

4,111 51.39%

Major Employer Employee Comparison

2023 vs. 2014

1,200

1,000

800

600

400

200

0
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51

2023 2013

(1) Total City Employment Estimated by City Management

140
City of Marysville 2023 Statistical Section

STAT 15

FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION

LAST TEN FISCAL YEARS

Full-time equivalent employees as of December 31

Function/Program 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Governmental Activities:
General governmental services 55.00 60.50 63.50 63.50 64.25 64.50 64.50 74.75 69.50 77.50
Police 87.50 89.50 92.50 98.00 101.00 103.00 107.00 124.50 129.00 135.00
Engineering 11.00 12.00 12.00 13.00 14.00 14.00 14.00 21.00 25.00 27.00
Transportation 12.50 12.50 14.50 14.50 15.00 16.00 16.00 24.00 25.00 41.00
Culture and recreation 12.50 13.50 13.50 14.00 14.00 14.00 14.00 11.00 9.00 11.00
Total FTEs governmental activities 178.50 188.00 196.00 203.00 208.25 211.50 215.50 255.25 257.50 291.50

Business-Type Activities:
Water/Sewer/Surface Water 53.75 55.25 55.75 56.00 56.25 58.25 58.25 60.50 61.25 76.30
Solid Waste 8.00 8.00 8.50 8.50 9.30 9.34 9.34 11.59 11.30 14.30
Golf 4.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total FTEs business-type activities 65.75 63.25 64.25 64.50 65.55 67.59 67.59 72.09 72.55 90.60

Internal Service:
Fleet Services 5.50 5.50 6.50 6.50 6.30 6.33 6.33 6.33 8.30 8.30
Facilities Maintenance 2.50 2.50 2.50 2.50 2.30 2.33 4.33 6.33 5.30 7.30
Computer Services 5.75 6.75 5.75 5.75 6.00 6.00 6.00 9.00 8.00 11.00
Total FTEs internal service 13.75 14.75 14.75 14.75 14.60 14.66 16.66 21.66 21.60 26.60

Total City FTEs 258.00 266.00 275.00 282.25 288.40 293.75 299.75 349.00 351.65 408.70

Annual percent change total city 4.88% 3.10% 3.38% 2.64% 2.18% 1.86% 2.04% 16.43% 0.76% 16.22%

Full-Time Equivalent City Employees

450.00
400.00
350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Governmental Business-Type Internal Service

*Total ending authorized positions per the city's budget

(1) The city reduced staff in 2003 and 2010 through both attrition and layoffs due to the local economy.
(2) Computer services was moved from the general governmental services activity to an internal service activity in 2006.
(3) The Program Engineer-Surface Water Supervisor was reclassified to Water Quality Manager and now reports to
the Public Works Superintendent. The two surface water specialists and the surfac water inspector moved
from Engineering to Water/Sewer Utility in 2013.
Source: City Budget

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 City of Marysville 2023 Statistical Section

STAT 16
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS

Function/Program 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police
Bookings 3,935 2,893 3,097 2,795 3,243 2,820 1,233 1,179 1,266 2,052
Citations (Total) 7,316 6,012 5,860 4,842 6,319 7,824 6,567 5,114 4,068 6,135
Parking Violations 113 182 223 511 583 661 339 151 78 329
Illegal Passing of School Buses 355 254 52 269 144 454
Calls for Service / Ave Per Month 6,163 5,987 5,409 5,587 5,983 5,918 5,742 5,363 5,155 5,930
Fire
Number of Incidents 11,368 12,856 13,861 15,345 14,158 13,996 12,839 14,264 15,984 15,953
EMS Transports 5,052 5,350 5,946 6,289 5,971 6,013 5,373 5,896 6,041 5,855
Water
New Connections 2182 ^ 98 107 59 188 512 382 326 276 231

Average Yearly Water Consumption

(millions of gallons) 1,571.9 1,717.4 1,718.3 2,021.4 1,832.0 1,869.1 1,863.8 2,108.5 2,142.0 2,231.0
Sewer
New Connections 112 108 144 92 236 503 382 326 186 483
Sanitation

Refuse Collected (tons per year) 15,905.42 16,129.80 16,406.25 16,830.69 17,804.67 18,043.78 18,700.00 19,724.79 26,805.09 26,654.94
Wastewater
Average Monthly Wastewater Treatment
Influent 5.19 4.97 5.43 5.38 5.55 4.61 5.48 5.98 6.09 5.71
Effluent 5.08 4.86 5.26 5.33 5.53 4.62 5.22 5.70 5.73 5.37
Culture and Recreation
Registrations 8,680 8,495 8,485 12,777 15,283 17,541 4,403 9,474 14,688 20,711
Rentals 975*** 927^^^ 1,033 1,031 1,031 996 307 643 932 1,242
Drop-In Community Center Attendance 16,838*** 11,143*** 11,593 11,120 16,096 15,586 3,675 N/A N/A 833
Opera House Paid Attendance**** N/A N/A 3,137 5,294 5,349 5,402 553 1,072 1,302 2,611
Municipal Court
Total Filings (Arlington, Lake Stevens,
Marysville) 10,362 8,674 9,249 9,791 12,474 13,265 9,822 7,122 4,068 6,135
Community Development
New/Improved Building Valuations $ - $53,098,316 $118,806,080 $59,518,376 $94,977,856 $196,536,604 $144,878,881 $186,953,435 $135,145,530 $267,621,120
Single Family Permits - 184 199 147 243 457 387 289 273 582
Multi Family Permits - - 28 13 6 2 1 20 13 36
Commercial Permits - 83 78 81 99 83 58 63 59 84
Total Permits**^^ 3,369 3,208 3,672 3,747 4,426 5,756 5,072 5,497 4,334 6,500
Golf
Total Rounds 31,223 35,321 35,443 29,586 33,981 39,287 47,774 50,091 44,968 50,367
Source: Various City Departments
#2020 Most numbers were down considerably due to Covid 19 restrictions
*Reduction in Rentals due to rental being once per day, rather than twice.
**In 2011 the reporting on permits changed. The report now tracks total permits granted in a given year without New/Improved Building Valuations
*** In 2014, the Ken Baxter Community Center was closed from 11/21/14 to 12/31/14 for repairs. And from 1/1/15 to 3/31/15
^ The 2014 number includes the acquistion of the PUD Water customers
in the Sunnyside area (Southeast Marysville, 2,086 connections)
^^ New software in 2015 has allowed the breakout of permits and valuations to be done.
^^^ Library was transferred to Sno Isle Library System on 3/1/15, therefore the City lost its ability to rent space at the library.
**** The City is leasing the Opera House from the owner and is renting the Opera House for Weddings, Events, Concerts, etc. started in 2016
Starting in 2018, the City now owns the Opera House Venue
" Community Center was closed for Covid and did not reopen, was demollished and will be relocated in 2022. Opened in January of 2023

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City of Marysville 2023 Statistical Section

STAT 17
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS

Function/Program 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Public Safety
Fire Stations 5 5 5 5 5 5 5 5 5 5
Police:
Stations 1 1 1 1 1 1 1 1 1 1
Culture and Recreation
Parks Acreage 527 527 538 538 538 538 538 538 538 538
Parks 32 32 32 32 32 32 32 32 32 32
Community Centers^ 1 1 2** 2** 2^ 2 2 2 2 2
Library 1 0 0 0 0 0 0 0 0 0
Transportation
Paved Streets (in miles) 202.4 202.8 203.9 204.6 204.6 204.6 213.5 217.4 219.5 232.4
Signs 9,129 9,386 9,531 9,633 9,822 9,977 10,851 11,178 11,355 11,406
Signalized Intersections 43 44 44 45 45 45 46 43 43 43
Street Lights 681 585 435 492 505 515 681 671 741 741
Water/Sewer/Surface Water
Water
Water Mains (miles) 323 327 333**** 335 335 328 334 336 345 356
Water Storage Capacity (mg) 24 24 24 24 24 24 24 24 24 24
Sewer
Sanitary Sewers (miles) 227 227 229**** 230 231 236 240 251 254 240
Storm Sewers (miles) 170 172 178 178 179 186 195 234 308 239
Treatment Capacity (mgd) 12.7 12.7 12.7 12.7 12.7 12.7 12.7 12.7 12.7 12.7
Sanitation
Collection Trucks 9 8 11*** 11 11 10 12 14 17 17
Golf
Municipal Golf Courses 1 1 1 1 1 1 1 1 1 1

** City leases the renovated Opera House and owns the Ken Baxter Community Center
*** includes 2 spare trucks
**** 2016 Water and Sewer Miles were recalculated and updated.
^ Starting in 2018, City now owns the Opera House venue, community center has been closed for renovation and will open in 2023 at 1015 State Ave

Source: Various City Departments

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City of Marysville 2023 Statistical Section

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