Finance and Personnel Committee Agenda, Aug. 4

CITY OF BAINBRIDGE ISLAND
SPECIAL CITY COUNCIL MEETING

FINANCE & PERSONNEL COMMITTEE
Location: Council Chamber
280 Madison Avenue N.
Tuesday August 4, 2009

3:00 p.m.
AGENDA
Public Comment 10 min (Accept)

Review of 7-14-09 Meeting Notes 5 min (Approve)*
Winslow Way LID Resolution 10 min (Discuss)*
Federal Grant for Winslow Way
Monthly Financial Report for June 2009 30 min (Discuss)*

Interfund Loan Update
July Cash Flow Analysis
Mid-Year Report Q & A 30 min (Discuss)
Cost Allocation Update 10 min (Discuss)
Utility Management by a Non-Profit (comparison study) 10 min (Discuss)
Future Agenda Items 5 min (Discuss)
Notes:
* Document posted on City website in advance of meeting
The public is encouraged to attend and speak to the committee on general issues and during the meeting on
individual agenda items. If you wish to be notified of meetings of this Committee please visit the City Website
www.ci.bainbridge-isl.wa.us and enter your email address in the “Sign Up For Listserv Updates” cell.
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FINANCE & PERSONNEL COMMITTEE
Tuesday – July 14, 2009 3:00 p.m.
Location: Council Chamber - City Hall
MEETING NOTES
Attending:
Committee: Councilmembers Barry Peters (committee chair), Councilmember Stoknes and
Councilmember Bill Knobloch
Elected: Councilmember Brackett
Administration: Finance Director Konkel
Finance & Administrative Services Department Secretary Kelly Jahraus monitored the
recording of the meeting and prepared the notes.
Call to Order 3:00:25 PM
Committee Chair Barry Peters called the meeting to order at 3:00 p.m.
Public Comment 3:02:00 PM
Dick Daniel inquired if there was further discussion amongst council on the content of the FPC notes.
Robert Dashiell asking Finance Director Konkel what was the original source of the money for the HRB
contract.
Curt Winston making a comment about Winslow Way project; saying it is the height of irresponsibility to
use utility funds to “gussy up” Winslow Way.
Councilmember Brackett formally requesting balance sheet of the monthly financials and asking if the city
has tapped into the interfund loan yet. Councilmember Brackett also introduced into the record an email from
Daniel Mallove, a member of the Utility Advisory Committee regarding the UAC and funding mechanisms
for Winslow Way.
Sally Adams making a quick comment about the procedure of appointing chairs for committees.
Review of 6-30-09 Meeting Notes 3:12:28 PM
Document(s) presented: FPC Meeting Notes for June 30, 2009
Motion: Moved that notes of June 30, 2009 Finance and Personnel Committee meeting be approved as
presented.
By: Stoknes. Second: Knobloch
Approved: Yes: 3
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Winslow Way Construction Finance Plan 3:14:05 PM
Document(s) presented: Winslow Way Finance Plan
Chris Wierzbicki, deputy director of Planning and Community Development and staff lead for the
reconstruction project, addressed the committee and presented the current finance plan. He stated the outside
cost for the project and budgeted cost is $12 million; the team is comfortable enough at the 60% design level
to lower the budget estimate to $11.5 million, which will be reflected on the city council agenda bill. Mr.
Wierzbicki reviewed the documents and approach with the committee.
Action item: Councilmember Stoknes requested the following text be added to the “next activity” portion of
the schedule: City staff will process the information available to date to the Utility Advisory Committee for
their review and recommendation to bring them up to speed and incorporate them into the Winslow Way
process as soon as possible.
Councilmember Bill Knobloch expressed concern over the funding of the project and sited an RCW
pertaining to the legalities of project funding; City Attorney Paul McMurray cautioned Councilmember
Knobloch against providing a legal opinion especially when there is current litigation pending.
Councilmember Peters has asked the city attorney to review the matter and advise the committee
accordingly.
Motion: That the finance and personnel committee refer this agenda item to the full city council meeting of
July 22 with the recommendation to approve the Winslow Way Reconstruction 60% design plans dated June
12, 2009 and recognize a reduction of the project program budget from $12 million to $11.5 million.
By: Stoknes. Second: Peters
Carried: Yea: 2 Nay: 1 (Knobloch)
Spending Approval Authority for City Manager 3:43:25 PM
Councilmember Peters introduced the agenda item by stating that historically the council has authorized the
former mayor to approve contracts up to $25,000 and then in 2007 the limit was raised twice, eventually to
$100,000 and finally lowered to $10,000. The change in the government requires the city authorize explicit
authority to the city manager.
City Attorney Paul McMurray stated he does not have a recommendation of what level of authority council
provide to the city manager; that is the council’s decision. He does ask though that the ordinance is changed
to reflect the city manager’s signature so there is clear contracting authority for professional service
agreements approved in the budget. Mr. McMurray also suggested and requested that the committee and
council at some point consider authorizing either through resolution or through ordinance, the city manager
to have a similar type of agreement for settlement authority.
Motion: move that the Finance and Personnel committee make a recommendation to the full city council to
direct the city attorney to change the applicable code from “mayor” to “city manager” in order to conform
to the stature of the form of government.
By: Knobloch.
There was no second to the motion.
Motion: request that the city attorney revise and bring to the council a revision of ordinance 2008-02 that
brings the spending authority limit to $30,000 for the city manager.
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Carried: Yea: 3-0
City Manager: New Employment Agreement (follow up) 4:04:31 PM
Performance Appraisal Process & Goal Setting
Document(s) presented: Prothman Proposal Waldron Proposal
Under the city manager’s current employment agreement there is a requirement for a performance review
and appraisal facilitated by a third party.
Motion: I move that the City Council approve a professional services contract with Prothman for the first
two phases of a proposal to facilitate the city manager’s performance review, evaluation criteria for the
remainder of 2009 and for development of a new employment contract. Phases I and II for amounts of
$3,000 and $6,500 respectively and a City Council option for Phase III by December 31, 2009 for $4,250, a
total of $13,750 and authorize the Mayor to execute the contract.
By: Knobloch. Second: Peters
Carried: Yea: 3-0
HRB Contract (Ferncliff Project) 4:12:23 PM
Document(s) presented: HRB Contract
Kathy Cook, Director of Planning and Community Development briefed the committee on the history of the
agenda item. In late 2008, the Housing Trust Fund executive committee conducted a call for proposals for
affordable housing projects to be funding out of the HTF. The Housing Resources Board submission was
unanimously recommended to be awarded the $100,000 in support of the project. That recommendation was
also supported by the city council.
Motion: that the finance and personnel committee approve the HRB contract and recommend approval to the
city council at the July 22, 2009 meeting.
By: Knobloch. Second: Stoknes
Carried: Yea: 3-0
DOE Shoreline Update Grant 4:17:43 PM
Document(s) presented: DOE Shoreline Update Grant
This grant will fund not only facilitate the citizen process of engaging in the early work of the SMP update
but also funds technical work and the local adoption process.
Motion: move that the finance and personnel committee recommend that city council accept the $200,000
grant from the Department of Ecology for the city’s Shoreline Master Plan Update.
By: Stoknes. Second: Knobloch
Carried: Yea: 3-0
Utility Fee Studies Change Order 4:21:23 PM
Document(s) presented: Utility Fee Studies Change Order
In the 2008 budget, it was anticipated that Utility Fee updates would be necessary to bring our rates in line
with expected activities and costs. FCS GROUP made a proposal to perform these studies for the City’s
Water, Wastewater and Storm and Surface Water Management (SSWM) Utilities and was awarded the
contract on July 16, 2008 with a scope of work and a minimum of public meetings. Due to the efforts
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required in the original analysis to update financial, budget, and capital planning data, as well as requests for
additional services including review by the Utility Advisory Committee, a contract amendment to increase
the budget by $30,830 is required.
Councilmember Knobloch commented that this committee to send the change order to the UAC for further
review and an advisory opinion. Councilmember Stoknes asked that staff bring this issue to the UAC on
where the city is on the rate study.
Motion: I move that the City Council approve a budget amendment in the amount of $30,830 ($15,399 from
Water Fund, $8,044 from Wastewater Fund and $7,387 from the Storm and Surface Water Management
Fund) for the FCS Group of Seattle regarding the Water, Wastewater and Storm and Surface Water Rate
Studies and authorize the City Manager to execute the contract amendment for a total contract amount of
$111,135.
Carried: Yea: 2 Nay: 1 (Knobloch)
CREBs: Clean Renewable Energy Bonds:
Potential Funding Source for City Hall Solar Panels 4:33:17 PM
Document(s) presented: Application
Councilmember Peters asked the committee to authorize the proposed application for a CREB to use as a
placeholder for potential bond funding. Through the utilization of a New Clean Renewable Energy Bond,
and Washington State’s Community Solar Project incentives, a large-scale photovoltaic (PV) system will be
installed on the roof of City Hall.
Motion: I move that the City Council request the City Administration apply for the allocation of New Clean
Renewable Energy Bonds to be used to install a large-scale photovoltaic system on the roof of the
Bainbridge Island City Hall.
By: Knobloch Second: Peters
Carried: Yea: 3-0
Parks Board – SSWM Fees on Properties to be Transferred 4:36:39 PM
Guests Ken DeWitt and Kirk Robinson of the BIMPRD joined the committee at the dais for the agenda item.
Councilmember Peters introduced the agenda item by stating whether or not it would be an effective option
for city-owned properties to be held by the BIMPRD given that the parks has a core mission of operating and
maintaining open space and recreational lands and to facilitate a request to city council for consideration of
further reduction in swim fees for park reclamation systems. The gentlemen from BIMPRD stated an idea for
a next step could include developing a lease with the ability to do maintain the properties but have the city
relieved of management expenses while issue is worked out.
The meeting was adjourned at 5:02:14 PM
5
CITY COUNCIL AGENDA BILL
PROCESS INFORMATION
Subject: Subject: Winslow Way Reconstruction Project - Date: August 26, 2009
Resolution of Intention to Form Local Improvement District
Agenda Item: Resolution Bill No.:
Proposed By: Christopher Wierzbicki, PE Referral(s):
BUDGET INFORMATION
Department: PCD/PW Fund: N/A Munis Contract # N/A
Expenditure Req: N/A Budgeted? Yes No Budget Amend. Req? Yes No
STANDING COMMITTEE INFORMATION

Referring Committee: FPC Recommendation:
Date of Referral: August 4th Vote __ – Yea __ – Ney Minority Report Yes No
DESCRIPTION/SUMMARY
Action Item:
Staff is requesting that the City Council approve a resolution of intention to form a local improvement
district for the Winslow Way Reconstruction Project.
History:
The property owners fronting Winslow Way between Ericksen and Madison Avenue have agreed to
support an LID for the Winslow Way Reconstruction Project. The funds allocated to the City for
completion of the project will be used to at the City’s discretion to implement the project as developed
by the Public Works Department, and as described in Exhibit A of the LID agreement.
Schedule/Next Activities:
The City Council will receive copies of this resolution and copies of the signed LID documentation
along with the packet materials for the August 26 Council Meeting. The formation hearing for the
LID is identified in the resolution as taking place at the September 23 Council Meeting.
Budget:
The 2009-10 Winslow Way Reconstruction Project Budget includes and requires the funds that will be
appropriated through the LID.
Location:
Winslow Way between State Route 305 and Grow Avenue.
RECOMMENDED ACTION
The following is the requested motion from the FPC to the full Council:
Motion: I move that the Finance and Personnel Committee recommend to the City Council the
approval of Resolution 09-19, thereby declaring its intention to form a local improvement district for
the Winslow Way Reconstruction Project.
Z:\Finance Personnel Files\2009\8-4-09\agenda_bill_ww_lid.doc

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WINSLOW WAY IMPROVEMENT PROJECT
AGREEMENT AND PETITION
1. AGREEMENT AND PETITION
1.1 This Winslow Way Improvement Project Agreement and Petition (“Agreement”)
is between the City of Bainbridge Island, a Washington municipal corporation (“City”), and
the Owners of certain property identified in Exhibit A (Appendix 1 – 21) to this Agreement
(collectively, “Owners”). The City and Owners agree as set forth in this Agreement.
1.2 This Agreement also constitutes the petition of Owners for the formation of a
local improvement district for the improvement of Winslow Way, as further described herein.
2. PROPERTY OWNERS’ PETITION
2.1 Owners’ Property. Owners are the owners of property described specifically in
Appendix 1 – 21 (the “Property”).
2.2 Improvements. The City is considering the improvement of Winslow Way and
utility infrastructure serving the Property (the “Improvements”), and described as follows:
The Winslow Way Reconstruction Project is to provide a complete replacement

of below and above-ground utility and transportation infrastructure between State
Route 305 and Grow Avenue. Elements of the project include: replacement of
water, sewer and stormwater facilities; street improvements, including paving,
curbs, gutters, sidewalks, street lighting, street trees and other landscaping and
enhancements; retention of angled parking and addition of bicycle facilities; and,
undergrounding of electrical power, cable and telephone, and appurtenances,
between Ericksen Avenue and Madison Avenue.
2.3 LID Area. The Property is within an area that may be included within a local
improvement district or districts (“LID”) that may be formed for the financing and
construction of the Improvements. Part of the Improvements benefit specially the Property
within the LID area. The legal description of the properties included in Exhibit A, constitutes
the boundaries of the LID and which boundary is shown by the aerial photograph of the LID
area and attached as Exhibit B.
2.4 LID Petition. Owners seek and hereby petition for the installation of the
Improvements, and the formation of an LID, construction of the Improvements and for the
financing in part through an LID. The City is prepared to consider the formation of an LID for
the purposes of financing and construction of the Improvements.
2.5 Alternative Methods. The City may form an LID for the Improvements pursuant
to the petition method (RCW 35.43.120 through RCW 35.43.130) or by the resolution method
(RCW 35.43.140 through RCW 35.43.180).
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50976848.2
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3. PROPERTY SPECIALLY BENEFITED
The Property will receive special benefit in at least the amount set forth in attached
Exhibit C (“Property Assessment”) as a result of the construction of the Improvements. Owners
agree that this Property Assessment is not an estimate of special benefit. A complete schedule of
the Property and Property Assessments within the LID is set forth in Exhibit C.
4. CREATION OF LID
4.1 Subject to compliance with federal and state law, the City shall entertain the
creation of an LID for the Improvements. Should the City elect to proceed with such an LID,
the City shall order and carry out the construction of the Improvements as expeditiously as
practicable. The City shall also exert its best efforts to finance the cost of the Improvements,
in part, with proceeds from special benefit assessments levied against the Property within the
LID, and identified in Exhibit C. It is understood by the parties to this Agreement that
nothing contained herein shall be construed to bind the City to the creation of an LID, or to the
levying of assessments or other action under Title 35 RCW. The City in its sole discretion
may order the construction of less than all of the Improvements, and may create one or more
local improvement districts within the boundaries set forth in attached Exhibit A to carry out
as many of the Improvements as the City orders to be constructed.
4.2 As to any LID formed under any provision of this Agreement, Owners retain the
right to protest the specific amount of assessment against Property. Actual assessments may
vary from assessment estimates so long as they do not exceed a figure equal to the increased
true and fair value the Improvements add to the Property. Provided, City shall not assess
against Property for the LID an amount greater than the Property Assessment set forth in
Exhibit C.
5. GENERAL
5.1 Waiver. Any waiver of a right to enforce a provision of this Agreement by either
the City of Owners shall not constitute a waiver of any similar or other subsequent right to
enforce the same or any other provision of this Agreement.
5.2 Notice. Any notice or other communication required or permitted under this
Agreement to be given shall be in writing and sent by regular mail to the parties, as identified
below. Any party may give to the other party notice of a change of address in the manner
provided in this section.
City: City of Bainbridge Island

Public Works Department
280 Madison Ave. N.
Bainbridge Island, WA 98110-1812
Owners SEE ATTACHED APPENDIX 1 – 21
5.3 Choice of Law/Venue. This Agreement shall be governed and construed in

accordance with the laws of the State of Washington, and venue in connection with any legal
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50976848.2
8
proceeding affecting this Agreement shall be laid in the Superior Court of the State of
Washington in Kitsap County.
5.4 Binding Successors. This Agreement shall be binding on the successors, assigns,
heirs, administrators and executors of the parties hereto. To that end, this Agreement may be
recorded by the City at its discretion.
5.5 Termination. If the LID is not formed within eighteen (18) months of the
Effective Date, this Agreement shall terminate and be of no further force and effect.
5.6 Entire Agreement and Severability. This Agreement is the entire understanding
between the parties, and no changes, amendments or alterations shall be effected unless agreed
to in writing and signed by both parties. If any provision of this Agreement is finally
determined by a court of competent jurisdiction to be invalid or unenforceable, the remainder
of the provisions of this Agreement shall remain in full force and effect, provided, however, in
the event the invalid or unenforceable provision is a material part of the consideration for this
Agreement, this Agreement shall thereby be rendered voidable at the option of either party.
The option to void this Agreement shall be exercised by sending written notice to the other
party no later than ten (10) business days after the court’s determination becomes final or the
option shall thereafter be deemed to be waived.
6. EXECUTION AND EFFECTIVE DATE
6.1 RCW 35A.01.040 requires the following warning: every person who signs this
Agreement, as set forth in Appendix 1 – 21, with any other than his or her true name, or who
knowingly signs more than one of these Agreements, or signs a petition when he or she is
otherwise not qualified to sign, or who makes herein any false statement, shall be guilty of a
misdemeanor.
6.2 This Agreement shall be final and binding following execution by the Owners and
by the City. The Effective Date shall be the date executed by the authorized representative of
the City, below.
Dated this ____ day of _________________________, 2009.
By: ___________________________
Mark Dombroski
City Manager
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50976848.2
9
STATE OF WASHINGTON
ss.
COUNTY OF
_________________________
I certify that I know or have satisfactory evidence that Mark Dombroski is the person
who appeared before me, and said person acknowledged that said person signed this instrument,
on oath stated that said person was authorized to execute the instrument and acknowledged it as
the City Manager of the City of Bainbridge Island, a Washington municipal corporation, to be the
free and voluntary act of such corporation for the uses and purposes mentioned in the instrument.
Dated this ____ day of _________________________, 2009.
(Signature of Notary)
(Legibly Print or Stamp Name of Notary)
Notary public in and for the State of Washington,

residing at
My appointment expires
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50976848.2
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RESOLUTION NO. 09-19
A RESOLUTION of the City Council of the City of Bainbridge

Island, Washington, relating to the Winslow Way Reconstruction
Project; declaring its intention to order the construction of utility and
street improvements and to create a local improvement district to
assess the cost and expense of carrying out those improvements
against the properties specially benefited thereby; and, notifying all
persons who desire to object to the improvements to appear and
present their objections at a hearing before the City Council to be
held on September 23, 2009.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAINBRIDGE

ISLAND, WASHINGTON, as follows:
Section 1. It is the intention of the City Council of the City of Bainbridge Island,
Washington, to order the improvement of the properties within the area described in Exhibit A,
attached and incorporated by this reference, by the construction of the Winslow Way
Reconstruction Project. The Winslow Way Reconstruction Project is to provide a complete
replacement of below and above-ground utility and transportation infrastructure between State
Route 305 and Grow Avenue. Elements of the project include: replacement of water, sewer and
stormwater facilities; street improvements, including paving, curbs, gutters, sidewalks, street
lighting, street trees and other landscaping; retention of angled parking and addition of bicycle
facilities; and, undergrounding of electrical power, cable and telephone, and appurtenances,
between Ericksen Avenue and Madison Avenue all as more fully described in Exhibit B, attached
and incorporated by this reference (the “Improvements”.)
All of the Improvements shall be in accordance with the plans and specifications prepared
for the City by the SVR Design Company and Puget Sound Energy and may be modified by the
City as long as modifications do not affect the purpose of the Improvements.
Section 2. The total estimated cost and expense of the Improvements is declared to be an
amount not to exceed $1,00,000.01, only $1,000,000.01 of that cost and expense shall be borne by
and assessed against the property specially benefited by the Improvements. Such property is to be
included in a local improvement district to be established; the local improvement district embracing
as nearly as practicable all the property specially benefited by the Improvements. The balance of the
cost and expense of the Improvements shall be paid by the City. None of the amount to be assessed
against the property within the local improvement district is to be paid by the City Actual
assessments may vary from estimated assessments as long as they do not exceed a figure equal to
the increased true and fair value the improvements add to the property.
Section 3. All persons who may desire to object to the Improvements are notified to appear
and present those objections at a hearing before the City Council to be held in the Bainbridge Island
City Hall Council Chambers at 280 Madison Avenue North Bainbridge Island, Washington, at
FORM 9 (Rev. 12/30/93)

RESOLUTION OF INTENT—LID (WITHOUT PETITION)
F:\DMS\RPK\0049229.08 07/27/09 -2-
11
7:30 p.m. on September 23, 2009 which time and place are fixed for hearing all matters relating to
the Improvements and all objections thereto and for determining the method of payment for the
Improvements. All persons who may desire to object thereto should appear and present their
objections at that hearing. Any person who may desire to file a written protest with the City Council
may do so within 30 days after the date of passage of the ordinance ordering the Improvements in
the event the local improvement district is formed. The written protest should be signed by the
property owner and should include the legal description of the property for which the protest is filed
and that protest should be delivered to the City Clerk.
Section 4. The city clerk is authorized and directed to give notice of the adoption of this
resolution and of the date, time, and place fixed for the public hearing to each owner or reputed
owner of any lot, tract, parcel of land, or other property within the proposed local improvement
district by mailing such notice at least fifteen (15) days before the date fixed for public hearing to
the owner or reputed owner of the property as shown on the rolls of the Kitsap County Assessor
at the address shown thereon, as required by law.
This resolution also shall be published in its entirety in at least two consecutive issues of
the official newspaper of the City, the date of the first publication to be at least fifteen (15) days
prior to the date fixed for the public hearing.
Section 5. The City’s Public Works Department will submit to the City Council on or prior
to September 8, 2009 all data and information required by law to be submitted.
Section 6. If any section, subsection, paragraph, sentence, clause or phrase of this

resolution is declared unconstitutional or invalid for any reason, such decision shall not affect the
validity of the remaining portions of this resolution.
Section 7. Any act consistent with the authority and prior to the effective date of this
resolution is hereby ratified and affirmed.
Section 8. This resolution shall take effect and be in force immediately upon its passage.
PASSED by the City Council this 26th day of August, 2009.
APPROVED by the Mayor this _____ day of #________________, 19___#.
FORM 9 (Rev. 12/30/93)

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12
Mayor
ATTEST/AUTHENTICATE:
__________________________________
City Clerk
APPROVED AS TO FORM:
__________________________________
City Attorney
FORM 9 (Rev. 12/30/93)

F:\DMS\RPK\0049229.08 07/27/09 -2-
13
I, #_________________________#, City Clerk of the City of Bainbridge Island,
Washington, certify that the attached copy of Resolution No. #______# is a true and correct copy of
the original resolution passed on the ______ day of #______________, 20___#; as such resolution
appears on the Minute Book of the City.
DATED this ______ day of #________________, 20___#.
City Clerk
FORM 9 (Rev. 12/30/93)

F:\DMS\RPK\0049229.08 07/27/09 -2-
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Winslow Way Reconstruction Project
Agreement and Petition – Legal Descriptions
EXHIBIT A – Appendix 1
LID AREA
ID Acct # County Tax Roll Name County Delivery Address County City, State, Zip Site Address City Records Name (Sq.Ft.) LID Assessment
1A 262502-3-048-2003 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 143 Ericksen Ave NE Haggar Scribner Properties 10,454 $ 23,599.06
1B 262502-3-049-2002 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 141 Ericksen Ave NE Haggar Scribner Properties 3,920 $ 8,239.67
1C 262502-3-050-2008 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 380 Winslow Way E Haggar Scribner Properties 10,454 $ 63,497.46
Legal Description: AUDITOR’S FILE NO. 262502-3-160-2005

Parcel I: That portion of the Northwest quarter of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M.., in Kitsap County, Washington, described as follows: Beginning at a point 959 feet East and 100 feet North of the
Southwest corner of said subdivision; Thence West 150 feet; Thence North 5 feet; Thence West 50 feet; Thence North 48 feet; Thence East 200 feet; Thence South 53 feet to the point of beginning. Parcel II: That portion of the Northwest quarter
of the Southwest quarter in Section 26, Township 25 North, Range 2 East, W.M., more particularly described as follows: Beginning at a point 959 feet East of the Southwest corner of said subdivision; Thence North 100 feet; Thence West 55
feet; Thence South 100 feet; Thence East to point of beginning; EXCEPT the South 28 feet thereof for Winslow Way East, AND EXCEPT that portion thereof, lying within Erickson Avenue NE running along the East boundary. Parcel III: That
portion of the North half of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Beginning at a point 904 feet East and 28 feet North of the Southwest corner of said
North half of the Southwest quarter; Thence North 72 feet; Thence West 95 feet; Thence North 5 feet; Thence West 50 feet; Thence South 77 feet; Thence East 145 feet to the point of beginning.
Approval:
STATE OF WASHINGTON ss.
COUNTY OF:
_______________________________________________
Signature
I certify that I know or have satisfactory evidence that
_____________________________is the person who appeared before me, and said
_______________________________________________
person acknowledged that he signed this instrument, on oath stated that he is
Printed Signature
authorized to execute the instrument and acknowledged it as the
____________________________ of the _______________________________, a
_______________________________________________
Washington____________________________, to be the free and voluntary act of
Date
such corporation for the uses and purposes mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
Notary public in and for the State of Washington, residing at:

________________________________________________
My Appointment expires: ____________________________

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LID
LID County Delivery AREA Assessme
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address City Records Name (Sq.Ft.) nt
$
2 262502-3-054-2004 Haggar Scribner Properties, LLC 3091 Point White Dr. NE Bainbridge Island, WA 98110 310 Winslow Way E Haggar Scribner Properties 12,197 54,597.82

Parcel I: That portion of the Northwest quarter of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M., described as follows: Beginning at a point 673 feet and 3 inches East and 20 feet North of the Southwest corner of the
Northwest quarter of the Southwest quarter; Thence East 45 feet and 3 inches; Thence North 150 feet; Thence West 45 feet and 3 inches; Thence South 150 feet to the True Point of Beginning; EXCEPT the South 8 feet conveyed to the Town
of Winslow by deed recorded under Auditor's File No. 672154; Parcel II: That portion of the Northwest quarter of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M., described as follows: Beginning at the Southwest
corner of the North half of the Southwest quarter of said Section 26; Thence North 20 feet; Thence East 718.5 feet to the True Point of Beginning; Thence North 200 feet; Thence East 29 feet; Thence South 200 feet; Thence West 29 feet to the
True Point of Beginning; EXCEPT the South 8 feet conveyed to the Town of Winslow by deed recorded under Auditor's File No. 672154; Parcel III: An easement for ingress, egress and utilities over and across the following strip of land, as more
fully set out in deed recorded under Auditor's File No. 642238; Beginning at the Southeast corner of the above described Parcels I and II; Thence North 200 feet; Thence East 11.5 feet; Thence South 200 feet; Thence West 11.5 feet to the True
Point of Beginning. All parcels situate in Kitsap County, Washington.
Approval:
COUNTY OF:
_______________________________________________
Signature
_______________________________ is the person who appeared before me, and
_______________________________________________
said person acknowledged that he signed this instrument, on oath stated that he is
Printed Signature
____________________________ of the _______________________________, a
_______________________________________________
Date
Washington _____________________________, to be the free and voluntary act of
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

16
LID County Delivery County City, State, AREA
ID Acct # County Tax Roll Name Address Zip Site Address City Records Name (Sq.Ft.) LID Assessment
3 262502-3-146-2004 Sandstrom Property, LLC 5725 NE 77th St. Seattle, WA 98115 278 Winslow Way E Sandstrom Property, LLC 39,640 $ 90,546.38

Parcel I: That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Beginning at the Southwest corner of the Northwest quarter of
the Southwest quarter; Thence North 20 feet; Thence East 618.5 feet, Thence North 150 feet to the True Point of Beginning; Thence East 100 feet; Thence North 50 feet; Thence West 100 feet; Thence South 50 feet to the True Point of
Beginning; Parcel II: That portion of the Northwest quarter of the Southwest quarter of Section 26 Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Beginning at the Southwest corner of the North half
of the Southwest quarter of said Section 26; Thence North 20 feet; Thence East 618.5 feet to the True Point of Beginning; Thence North 150 feet; Thence East 54 feet 9 inches; Thence South 150 feet; Thence West 54 feet 9 inches to the True
Point of Beginning; EXCEPT the South 8 feet; Parcel III: That portion of the Northwest quarter of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Beginning at the
Southwest corner of said Northwest quarter of the Southwest quarter; Thence North 20 feet; Thence East 477 feet to the True Point of Beginning; Thence continuing East 30 feet; Thence North 100 feet; Thence West 30 feet; Thence South 100
feet to the True Point of Beginning; EXCEPT the South 8 feet; Parcel IV: That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows:
Beginning at the Southwest corner of said Northwest quarter of the Southwest quarter; Thence North 20 feet; Thence East 507 feet to the True Point of Beginning; Thence East 111.5 feet; Thence North 310 feet; Thence West 141.5 feet; Thence
South 210 feet; Thence East 30 feet; Thence South 100 feet to the True Point of Beginning; EXCEPT the South 8 feet; EXCEPT that portion of the Northwest quarter of the Southwest quarter in Section 26, Township 25 North, Range 2 East,
W.M., described as follows: Beginning at the Southwest corner of the Northwest quarter of the Southwest quarter; Thence North 1°20'07” East along the West line of said Section, 20 feet; Thence South 88°41'21” East parallel to the South line of
said Northwest quarter of the Southwest quarter 477 feet; Thence North 1°20'07” East 200 feet and the True Point of Beginning; Thence continuing North 1°20'07” East 110 feet; Thence South 88°41'21” East 141.50 feet; Thence South 1°20'07”
East 110 feet; Thence North 88°41'21” West 141.50 feet to the True Point of Beginning; (Auditor's File No. 9610070207). Situate in the City of Bainbridge Island, Kitsap County, Washington.
Approval: STATE OF WASHINGTON ss.

COUNTY OF:
_______________________________________________
Signature I certify that I know or have satisfactory evidence that
_________________________________ is the person who appeared before me,
_______________________________________________ and said person acknowledged that he signed this instrument, on oath stated that he
is authorized to execute the instrument and acknowledged it as the
Printed Signature
____________________________ of the _______________________________, a
_______________________________________________ such corporation for the uses and purposes mentioned in the instrument.
Date Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

17
City
LID County Delivery Records AREA
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address Name (Sq.Ft.) LID Assessment
4 262502-3-056-2002 Winslow Hardware & Mercantile 1237 Hawley Way NE Bainbridge Island, WA 98110 240 Winslow Way E Schuricht 10,019 $ 31,498.74

Resultant Parcel B of Boundary Line Adjustment recorded under Auditor's File No. 9410260234, described as follows: That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap
County, Washington, described as follows: Beginning at the Southwest corner of said subdivision; Thence North, a distance of 28 feet; Thence East, a distance of 477 feet to the True Point of Beginning; Thence North, a distance of 202 feet;
Thence West, a distance of 50 feet; Thence South, a distance of 202 feet to a point which is West of the True Point of Beginning; Thence East a distance of 50 feet to the True Point of Beginning.
Approval:
COUNTY OF:
_______________________________________________
Signature
_______________________________________________
said person acknowledged that he signed this instrument, on oath stated that he is
Printed Signature
____________________________ of the _______________________________, a
_______________________________________________
Washington corporation, to be the free and voluntary act of such corporation for the
Date
uses and purposes mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

18
EXHIBIT A – Appendix 5, 6, 7
LID County Delivery AREA
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address City Records Name (Sq.Ft.) LID Assessment
5 262502-3-060-2006 Brandt, James & Linda POB 11187 Bainbridge Island, WA 98110 210 Winslow Way E Brandt, James & Linda 4,792 $ 32,128.71
6 262502-3-058-2000 Brandt, James & Linda POB 11187 Bainbridge Island, WA 98110 Parking Lot Brandt, James & Linda 15,682 $ 9,739.61
7 262502-3-059-2009 Brandt, James & Linda POB 11188 Bainbridge Island, WA 98111 150 Winslow Way E Brandt, James & Linda 4,356 $ 15,269.39
Legal Description: AUDITOR’S FILE NO’s.: 262502-3-058-2000, 262502-3-059-2009, 262502-3-060-2006

That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows: Beginning at the Southwest corner of said Northwest quarter Southwest
quarter; Thence North 0°29'50” West along the West line of Northwest quarter of the Southwest quarter 20 feet; Thence North 89°28'55” East on a line parallel to the South line of said Northwest quarter of the Southwest quarter 337 feet; Thence
North 0°29'50” West 8 feet to North margin of Winslow Way & the True Point of Beginning; Thence North 89°28'55” East along said street margin 90.00 feet; Thence North 0°29'50” West 202.00 feet; Thence South 89°28'55” West 73.50 feet;
Thence North 0°29'50” West 100 feet; Thence South 89°28'55” West 122.50 feet;Thence South 0°29'50” East 210.00 feet; Thence North 89°28'55 East 106.00 feet; Thence South 0°29'50” East 92 feet to the True Point of Beginning; EXCEPT
the following described tract:Beginning at the Southwest corner of said Northwest quarter Southwest quarter; Thence North 0°29'50” West along the West line of Northwest quarter of the Southwest quarter 20 feet; Thence North 89°28'55” East
on a line parallel to the South line of said Northwest quarter of the Southwest quarter 337 feet; Thence North 0°29'50” West 8 feet to North margin of Winslow Way; Thence North 89°28'55” East along said street margin 90.00 feet; Thence North
0°29'50” West 202 feet; Thence South 89°28'55” West 73.50 feet to the True Point of Beginning; Thence North 0°29'50” West 100 feet; Thence South 89°28'55” West 122.50 feet;Thence South 0°29'50” East 139 feet; Thence North 89°28'55
East 122 feet; Thence North 0°29'50” East to the True Point of Beginning.
COUNTY OF:
_______________________________________________
___________________________________and___________________________ are
_______________________________________________ the persons who appeared before me, and said persons acknowledged that they
Printed Signature signed this instrument, on oath stated that they are authorized to execute the
instrument and acknowledged it as the free and voluntary act of them for the uses
_______________________________________________ and purposes mentioned in the instrument.
Date
Dated this ______ day of ________________________, 2009.
Approval: ________________________________________________________
_______________________________________________
Signature
________________________________________________________
_______________________________________________ (Legibly Print or Stamp Name of Notary)
Printed Signature
_______________________________________________
Date ________________________________________________

19
8 262502-3-062-2004 Roberts Jewelry POB 345 Indianola, WA 98342 194 Winslow Way E Roberts Jewelry 5,227 $ 20,979.16

Parcel I: That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows : Beginning at a point on the Southwest corner of the North half of
the Southwest quarter of said Section; Thence North 20 feet; Thence East 317 feet to True Point of Beginning; Thence North 100 feet; Thence East 20 feet; Thence South 100 feet; Thence West 20 feet to the Point of Beginning; Parcel II: That
portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows: Beginning at a point on the Southwest corner of the North half of the Southwest
quarter of said Section; Thence North 20 feet; Thence East 317 feet to True Point of Beginning Thence North 100 feet; Thence East 5 feet; Thence South 100 feet; Thence West 5 feet to the Point of Beginning; Parcel III: That portion of the
Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows: Beginning at a point on the Southwest corner of the North half of the Southwest quarter of
said Section; Thence North 20 feet; Thence East 282 feet to True Point of Beginning Thence North 100 feet; Thence East 30 feet; Thence South 100 feet; Thence West 30 feet to the Point of Beginning; EXCEPT that portion of deeded to the
City of Winslow; AND EXCEPT the West3 feet thereof;
Approval:
COUNTY OF:
_______________________________________________
Signature I certify that I know or have satisfactory evidence that _________________________
is the person who appeared before me, and said person acknowledged that he
_______________________________________________ signed this instrument, on oath stated that he is authorized to execute the instrument
Printed Signature and acknowledged it as the _________________________________ of the
_______________________________________________ __________________________________, a Washington____________________,

to be the free and voluntary act of such corporation for the uses and purposes
Date
mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

20
LID County Delivery AREA LID
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address City Records Name (Sq.Ft.) Assessment
9 262502-3-063-2003 Burlingame, Frank & Joanne 9658 NE Yaquina Bainbridge Island, WA 98110 176 Winslow Way E Burlingame, Frank & Joanne 5,663 $ 26,298.95

That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows: Commencing at the Southwest corner of the North half of the Southwest
quarter of said Section 26; Thence North 20 feet; Thence East 220 feet to True Point of Beginning; Thence North 100 feet; Thence East 65 feet; Thence South 100 feet; Thence West 65 feet to the Point of Beginning. EXCEPT the South 8 feet
thereof conveyed to the City of Winslow by deed bearing Auditor's File No’s. 672147 & 672159
Approval:
COUNTY OF:
_______________________________________________
_______________________________and__________________________________
_______________________________________________ are the persons who appeared before me, and said persons acknowledged that they
Printed Signature signed this instrument, on oath stated that they are authorized to execute the
instrument and acknowledged it as the free and voluntary act of them for the uses
_______________________________________________ and purposes mentioned in the instrument.
Date
Dated this ______ day of ________________________, 2009.
Approval:
_______________________________________________ ________________________________________________________
Signature (Signature of Notary)
_______________________________________________ ________________________________________________________
Printed Signature (Legibly Print or Stamp Name of Notary)
_______________________________________________
Date
________________________________________________

21
LID County Delivery City Records AREA LID
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address Name (Sq.Ft.) Assessment
10 262502-3-069-2007 Miller, Earl & Linda 205 Ludlow Bay Rd Port Ludlow, WA 98365 156 Winslow Way E Miller, Earl & Linda 19,166 $ 47,268.11
11 262502-3-072-2002 Miller, Earl & Linda 205 Ludlow Bay Rd Port Ludlow, WA 98365 106 Madison Ave N Miller, Earl & Linda 13,939 $ 51,477.94
13 262502-3-024-2001 East Winslow Property, LLC 205 Ludlow Bay Rd Port Ludlow, WA 98365 119 Winslow Way E Miller, Earl & Linda 8,712 $ 47,228.11
Legal Descriptions for: 262502-3-069-2007, 262502-3-072-2002, 262502-3-024-2001

AUDITOR’S FILE NO. 262502-3-069-2007 Parcel I: That portion of the Northwest quarter of the Southwest quarter, Section 26, Township 25 North, Range 2 East, W.M., described as follows: Beginning at a point 20 feet North and 20 feet East
of the Southwest corner of the Northwest quarter of the Southwest quarter of said Section; Thence East 120 feet to the True Point of Beginning; Thence North 217.60 feet; Thence East 80 feet; Thence North 92 feet, more or less, to a point 330
feet North of the South line of the above referred to subdivision; Thence East 11 feet; Thence South 310 feet; Thence West 91 feet, more or less, to the True Point of Beginning; EXCEPT all roads, including any portion conveyed to the Town of
Winslow; AND EXCEPT, that portion conveyed to Frank H. Burlingame and Joanne C. Burlingame, husband and wife, by instrument recorded under Auditor's File No. 8505240070; Parcel II: An easement for ingress, egress and utilities over,
under and across the following parcel of land, located in Kitsap County, Washington, to wit: That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2 East, W.M., described as follows: The East
9.00 feet of the following described property: Beginning at a point which is 238 feet North and 30 feet East of the Southwest corner of said subdivision; Thence East, a distance of 190 feet; Thence North a distance of 92 feet; Thence West a
distance of 190 feet; Thence South, a distance of 92 feet to the True Point of Beginning. AUDITOR’S FILE NO. 262502-3-072-2002 That portion of the Northwest quarter of the Southwest quarter of Section 26, Township 25 North, Range 2
East, W.M., in Kitsap County, Washington, described as follows: Beginning at the Southwest corner of the North half of the Southwest quarter of said Section 26;Thence North 20 feet; Thence East 20 feet to the True Point of Beginning; Thence
North 115 feet; Thence East 120 feet; Thence South 115 feet; Thence West 120 feet to the True Point of Beginning; EXCEPT that portion, if any, lying within Madison Avenue North; AND EXCEPT that portion, if any, lying within Winslow Way
East. AUDITOR’S FILE NO. 262502-3-024-2001 Lot B of City of Winslow Short Plat recorded under Auditor's File No. 8112160057, being described as follows:That portion Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M.,
in Kitsap County, Washington, described as follows: Commencing at the Northwest corner of said Government Lot 4, a concrete monument;Thence along the West line of said Government Lot 4 South 0°29'15” East 200 feet;Thence North
89°28'55” East along the centerline of a 20 foot vacated alley 130.42 feet to the True Point of Beginning; Thence continuing North 89°28'55”East, along said centerline of a 20 foot vacated alley, 14.58 feet;Thence North 0°29’15” West, 160.00
feet:Thence South 89°28'55” West along the South right of way of Winslow Way 90.48 feet;Thence South 0°50' 18” East, more or less, on a common line between butting buildings 92.74 feet;Thence North 89°28'55”East 75.12 feet;Thence
South 0°40'00” East 67.26 feet to the True Point of Beginning.
COUNTY OF:
Approval:
_______________________________________________ __________________________________and____________________________are
Signature the persons who appeared before me, and said persons acknowledged that they
signed this instrument, on oath stated that they are authorized to execute the
_______________________________________________ instrument and acknowledged it as the free and voluntary act of them for the uses
Printed Signature and purposes mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
_______________________________________________
Date ________________________________________________________
Approval:
_______________________________________________ ________________________________________________________
Signature (Legibly Print or Stamp Name of Notary)
_______________________________________________ Notary public in and for the State of Washington, residing at:
Printed Signature ________________________________________________
_______________________________________________
Date
22
City AREA LID
LID Records (Sq.Ft. Assessme
ID Acct # County Tax Roll Name County Delivery Address County City, State, Zip Site Address Name ) nt
$
12 262502-3-073-2001 IKON INVESTMENTS INC 8725 Sportsman Club Rd NE. Bainbridge Island, WA 98110 101 Madison Ave S Lubovich 5,663 14,859.41

That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M., Kitsap County, Washington, described as follows: Commencing at the Northwest corner of said Government Lot 4; Thence along the West line of said
Government Lot 4 South 0°29'15” East 200 feet; Thence North 89°28'55” East, along the centerline of a 20 foot vacated alley, 20 feet to the True Point of Beginning; Thence continuing North 89°28'55”East along said centerline of a 20 feet
vacated alley 33.80 feet; Thence North 0°40'00” West 67.26 feet; Thence North 89°28'55”East 1.50 feet; Thence North 0°50' 18” West, more or less, on a common line between abutting buildings 92.74 feet; Thence South 89°28'55” West along
the South right of way of Winslow Way 34.52 feet; Thence South 0°29'15” East along the East right of way of Madison Avenue 160 feet to the True Point of Beginning; Subject to easements and restrictions of record; (Being Lot A of City of
Winslow Short Plat recorded under Auditor's File No. 8112160057)

COUNTY OF:
_______________________________________________
_______________________________________________
Printed Signature said person acknowledged that he signed this instrument, on oath stated that he is
_______________________________________________ ____________________________ of the _______________________________, a
Date
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

23
EXHIBIT A – Appendix 14, 15
14 262502-3-074-2000 McCrary Frank Ronald 19136 Viking Way NW Poulsbo, WA 98370 155 Winslow Way E McCrary Frank Ronald 18,731 $ 68,607.26
15 262502-3-077-2007 McCrary Frank Ronald 19136 Viking Way NW Poulsbo, WA 98370 191 Winslow Way E McCrary Frank Ronald 10,019 $ 36,078.56
Legal Descriptions for: 262502-3-074-2000, 262502-3-077-2007

AUDITOR’S FILE NO. 262502-3-074-2000 That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows: Beginning at the Northwest corner of Government Lot 4;
Thence North 89°28'55” East along the North line of said Government Lot 4, 145 feet; Thence South 0°29'15” East 30 feet to the True Point of Beginning; Thence North 89°28'55” East 120 feet; Thence South 0°29'15” East 160 feet; Thence
South 89°28'55” West 120 feet; Thence North 0°29'15” West 160 feet to the True Point of Beginning; EXCEPT the North 20 feet thereof conveyed to Kitsap County and Town of Winslow for road purposes by deeds recorded under Auditor's File
Nos. 347624 and 670145. TOGETHER with the North half of the vacated 20 foot alley adjoining, which attaches by operation of law. AUDITOR’S FILE NO. 262502-3-077-2007 That portion of Government Lot 4, Section 26, Township 25 North,
Range 2 East, W.M, in Kitsap County, Washington, described as follows: Beginning at the Northwest corner of said Government Lot 4; Thence North 89°28'55” East 265 feet; Thence South 0°29'15” East 50 feet to the True Point of Beginning of
the tract herein described; Thence North 89° 28'55” East 63 feet; Thence South 0°29'15’ East 150 feet; Thence South 89°28'55’ West 63 feet; Thence North 0°29'15” West 150 feet to the True Point of Beginning.

COUNTY OF:
_______________________________________________
____________________________ is the person who appeared before me, and said
_______________________________________________
Printed Signature person acknowledged that he signed this instrument, on oath stated that he is
authorized to execute the instrument and acknowledged it as the free and voluntary
_______________________________________________ act of such corporation for the uses and purposes mentioned in the instrument.
Date
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

24
County
LID Delivery AREA LID
16 262502-3-116-2000 Washington Mutual Bank PO BOX 7788 Newport Beach, CA 92658 231 Winslow Way E Washington Mutual Bank 14,375 $ 43,448.26
Legal Description AUDITOR’S FILE NO. 262502-3-116-2000

That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Beginning at the Northwest corner of said Government Lot 4;Thence North 89°28'55” East along the
North line of said Government Lot 4 a distance of 328 feet; Thence South 0°28'15” East 40 feet to the True Point of Beginning; Thence North 89°28'55” East 96.3 feet;Thence South 0°29'15” East 150 feet; Thence South 89°28'55” West 96.3
feet; Thence North 0°29'15” West 150 feet to the True Point of Beginning; EXCEPT the North10 feet thereof conveyed to the Town of Winslow by deed recorded under Auditor's File No. 672146 TOGETHER with that portion of alley vacated by
Ordinance No. 71-5 recorded under Auditor's File No. 992108, which attaches said premises by operation of law.

COUNTY OF:
_______________________________________________
_______________________________________________
Printed Signature person acknowledged that he signed this instrument, on oath stated that he is
_______________________________________________ ____________________________ of the _______________________________, a
Date Washington corporation, to be the free and voluntary act of such corporation for the
uses and purposes mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

25
City
LID County Delivery Records AREA
ID Acct # County Tax Roll Name Address County City, State, Zip Site Address Name (Sq.Ft.) LID Assessment
17 262502-3-081-2001 American Marine Bank PO BOX 10788 Bainbridge Island, WA 98110 249 Winslow Way E Rodac 41,382 $ 69,937.20

Parcel I:That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Beginning at a point 425 feet East and 50 feet South of the Northwest corner of said
Government Lot 4;Thence South 140 feet;Thence East 100 feet;Thence North 140 feet;Thence West 100 feet to the True Point of Beginning; TOGETHER with the North half of the vacated 20 foot alley adjoining, which attaches by operation of
law and recorded under Auditor's File No. 992108.Parcel II:That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Lots 11 and 12, Block 1, Stafford’s Addition
to Winslow, as per plat recorded in Volume 8, Page 11, records of Kitsap County, Washington;TOGETHER with the South half of the vacated 20 foot alley adjoining, which attaches by operation of law and recorded under Auditor's File No.
992108.

COUNTY OF:
_______________________________________________
_______________________________________________ person acknowledged that he signed this instrument, on oath stated that he is
Printed Signature authorized to execute the instrument and acknowledged it as the
_______________________________________________ ____________________________ of the _______________________________, a

Date
Washington_____________________________, to be the free and voluntary act of
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

26
LID County Delivery County City, State, LID
ID Acct # County Tax Roll Name Address Zip Site Address City Records Name AREA (Sq.Ft.) Assessment
18 262502-3-082-2000 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 256 Winslow Way E Town & Country Market, Inc. 14,810 $ 48,828.05
19 262502-3-084-2008 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 343 Winslow Way E Town & Country Market, Inc. 48,787 $ 125,714.97
20 4114-001-001-0002 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 Parking Lot Town & Country Market, Inc. 58,370 $ 41,168.35
Legal Descriptions for: 262502-3-082-2000, 262502-3-084-2008, 4114-001-001-0002

AUDITOR’S FILE NO. 262502-3-082-2000 The West 100 feet of the following described property:That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Beginning at the Northwest corner of said
Government Lot 4;Thence North 89°28'55” East along the North line thereof 650.0 feet; Thence South 0°28'15” East 50 feet to the True Point of Beginning; Thence North 89°28'55” East parallel to the North line of said Government Lot 4, a distance of 265.92 feet;Thence South
0°28'55” East 140 feet;Thence South 89°28'55” West 390.92 feet; Thence North 0°28'15” West 140 feet;Thence North 89°28'55” East 100 feet;Thence South 0°28'15” East 40 feet;Thence North 89°28'55” East 25 feet;Thence North 0°28'15” West 40 feet to the True Point of
Beginning; TOGETHER with that portion of vacated alley adjoining which attaches by operation of law per Ordinance No. 140, Town of Winslow, dated December 3, 1963. AUDITOR’S FILE NO. 262502-3-084-2008 Resultant Parcel A of Boundary Line Adjustment recorded under
Auditor’s File No. 200512130384, being a portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, more particularly described as follows:Parcel I: That portion of Government Lot 4, Section 26, Township 25 North, Range 2
East, W.M., in Kitsap County, Washington, described as follows: Beginning at the Northwest corner of said Government Lot 4; Thence running North 89°28'55” East along the North boundary thereof for a distance of 650.00 feet; Thence South 0°28'15” East 50 feet to the True
Point of Beginning; Thence continuing South 0°28'15” East for a distance of 140.00 feet; Thence North 89°28'55” East for a distance of 265.92 feet; Thence North 0°28'15” West for a distance of 140 feet; Thence South 89°28'55” West 265.92 feet to the True Point of Beginning;
TOGETHER with that portion of vacated alley adjoining which attaches by operation of law per Ordinance No. 71-5, recorded under Auditor's File No. 992108 and Ordinance No.140, Town of Winslow, dated December 3, 1963. Parcel II: The South 100 feet of the following: That
portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Beginning at the Northwest corner of said Government Lot 4; Thence running North 89°28'55” East along the North boundary thereof for a
distance of 625.00 feet; Thence South 0°28'15” East for a distance of 50 feet to the True Point of Beginning; Thence South 0°28'15” East for a distance of 140.00 feet; Thence North 89°28'55” East for a distance of 25 feet; Thence North 0°28'15” West for a distance of 140 feet;
Thence South 89°28'55” West for a distance of 25.00 feet to the True Point of Beginning; TOGETHER with that portion of vacated alley adjoining which attaches by operation of law per Ordinance No. 71-5, recorded under Auditor’s File No. 992108 and Ordinance No. 140, Town
of Winslow, dated December 3, 1963; Reserving unto the grantor however, a permanent easement across and under the Westerly one foot of said property for the purpose of maintaining a propane gas line. AUDITOR’S FILE NO. 4114-001-001-0002 That portion of Government
Lot 4, Section 26, Township 25 North, Range 2 East, W.M., in Kitsap County, Washington, described as follows: Lots, 1, 2, 3, 4, 5 and 6, Block 1, Stafford's Addition to Winslow, as per plat recorded in Volume 8 of plats, Pages11, 12 and 13, records of Kitsap County,
Washington;TOGETHER with that portion of vacated alley adjoining which attaches by operation of law, per Ordinance No. 71-5, recorded under Auditor's File No. 992108 and Ordinance No.140, Town of Winslow, dated December 3, 1963;EXCEPT Brien Drive SE, as conveyed
to the City of Winslow by deed recorded under Auditor's File No. 988862; TOGETHER with an easement for parking, ingress and egress over and across the westerly 10 feet of Lot 7 in said plat.

COUNTY OF:
_______________________________________________
Signature I certify that I know or have satisfactory evidence that ____________________________ is the
person who appeared before me, and said person acknowledged that he signed this instrument,
_______________________________________________ on oath stated that he is authorized to execute the instrument and acknowledged it as the
Printed Signature
____________________________ of the _______________________________, a Washington
_______________________________________________ corporation, to be the free and voluntary act of such corporation for the uses and purposes
Date mentioned in the instrument. Dated this ________ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

27
Bainbridge Island, WA
21 262502-3-085-2007 American Marine Bank Trust Dept. PO BOX 10788 98110 393 Winslow way E American Marine Bank Trust Dept. 9,148 $ 29,988.84

Resultant Parcel B of Boundary Line Adjustment recorded under Auditor’s File No. 200512130384, being a portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, more particularly described as follows:Parcel I: That
portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Beginning at the Northwest corner of said Government Lot 4;Thence South 00°32’40” West along the west boundary of said Government Lot 4,
190 feet;Thence South 80°29’30” East 20 feet to the intersection of the East line of Madison Street and the North line of the 20 foot alley;Thence continuing South 89°29” 30” East along the North line of said alley 1005.92 feet to the True Point of Beginning;Thence North
00°32’40” West 140 feet;Thence North 89°29’30” West 50 feet;Thence South 00°32’40” East 140 feet;Thence South 89°29’30” East to the True Point of Beginning.Together with and Subject to easements, restrictions and reservations of record.Parcel II: That portion of
Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows:Beginning at the Northwest corner of said Government Lot 4;Thence running North 89°28'55” East along the North boundary thereof, 915.92 feet; Thence
South 0°28'15” East 50 feet to the True Point of Beginning; Thence continuing South 0°28'15” East 140.00 feet; Thence North 89°28'55” East 60 feet; Thence North 0°28'15” West 140 feet; Thence South 89°28'55” West 60 feet to the True Point of Beginning; TOGETHER with
that portion of the right of way along the South boundary thereof dedicated under Kitsap County Auditor’s File No. 571404 and vacated under Town of Winslow Ordinance No. 140 that would attach by operation of law. EXCEPT that portion of Government Lot 4 described as
follows:Beginning at the Northwest corner of said Government Lot 4;Thence along the North line thereof, South 88°40’48” East 915.92 feet;Thence South 01°20’42” West 50.00 feet to the Northerly right of way of Winslow Way East and the True Point of Beginning;Thence along
said right of way, South 88°40’48” East 45.17 feet to the Northerly extension of the West face of an existing building;Thence along said West face and its Northerly and Southerly extensions, South 01°23’48” West 59.84 feet;Thence South 01°21’18” West 80.17 feet to the
Northerly right of way of an unnamed street dedicated under Kitsap County Auditor’s File No. 571404;Thence along said right of way North 88°40’48” West 41.49 feet to the Northeast corner of that portion of said right of way vacated by Town of Winslow Ordinance No.
140;Thence along the West line of said vacation, South 01°19’12” West 10.00 feet to the centerline of said vacation;Thence along said centerline, North 88°40’48” West 3.61 feet to a point which bears South 01°20’42” West from the True Point of Beginning;Thence North
01°20’42” East 150.01 feet to the True Point of Beginning.Together with and Subject to easements, restrictions and reservations of record.

COUNTY OF:
_______________________________________________
Signature I certify that I know or have satisfactory evidence that ____________________________ is the
person who appeared before me, and said person acknowledged that he signed this instrument,
_______________________________________________ on oath stated that he is authorized to execute the instrument and acknowledged it as the
Printed Signature ________________________________ of the _______________________________, a
_______________________________________________ Washington_____________________________, to be the free and voluntary act of such

Date corporation for the uses and purposes mentioned in the instrument.
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________

________________________________________________

28
22 262502-3-083-2009 Christian Science of Bainbridge Island PO BOX 10488 Bainbridge Island, WA 98110 295 Winslow Way E Christian Science of Bainbridge Island 871 Not Assessed

That portion of Government Lot 4, Section 26, Township 25 North, Range 2 East, W.M, in Kitsap County, Washington, described as follows: Beginning at the Northwest corner of said Government Lot 4;Thence North 89°28'55” East along the
North boundary thereof for a distance of 625.00 feet; Thence South 0°28'15” East for a distance of 50 feet to the True Point of Beginning; Thence South 0°28'15” East for a distance of 140.00 feet;Thence North 89°28'55” East for a distance of
25 feet;Thence North 0°28'15” West for a distance of 140 feet;Thence South 89°28'55” West for a distance of 25.00 feet to the True Point of Beginning; EXCEPT the South 100 feet thereof.

Approval: COUNTY OF:
_______________________________________________ I certify that I know or have satisfactory evidence that

Signature ______________________________ is the person who appeared before me, and said
person acknowledged that he signed this instrument, on oath stated that he is authorized
_______________________________________________
Printed Signature to execute the instrument and acknowledged it as the __________________________ of
the _________________________, a Washington __________________, to be the free
_______________________________________________ and voluntary act of such corporation for the uses and purposes mentioned in the
Date instrument
Dated this ______ day of ________________________, 2009.
________________________________________________________
________________________________________________________
________________________________________________

29
MADRONE LN N
ERICKS EN AVE NE
MADISON AVE N
10 6
MILLER BRANDT BRANDT
EARL L & LINDA A JAMES & LINDA JAMES & LINDA
262502-3-069-2007 262502-3-058-2000 262502-3-059-2009
4 1A
7 3 HAGGAR SCRIBNER PROPERTIES
262502-3-048-2003
WINSLOW HARDWARE
11 9 & MERCANTILE SANDSTROM 2

BURLINGAME 8 5 262502-3-056-2002 PROPERTIES LLC
!
MILLER FRANK & JOANNE 262502-3-146-2004
EARL L & LINDA A
262502-3-072-2002
262502-3-063-2003 ROBERTS
JEWELERY
BRANDT
JAMES & LINDA
1C 1B
262502-3-062-2004 262502-3-060-2006 HAGGAR SCRIBNER PROPERTIES
!
262502-3-050-2008
WINSLO W WAY W HAGGAR SCRIBNER
WINS LOW WAY E PROPERTIES, LLC
262502-3-054-2004 HAGGAR SCRIBNER PROPERTIES
262502-3-049-2002
CHRISTIAN SCIENCE
OF BAINBRIDGE ISLAND
262502-3-083-2009
13 22
FINCH PL SW
EAST WINSLOW
PROPERTIES LLC
BJUNE DR S E
262502-3-024-2001
15 18
12 14 MCCRARY 16 TOWN & COUNTRY AMERICAN MARINE 21
MCCRARY
FRANK RONALD
262502-3-077-2007
MARKET INC 19 BANK TRUST DEPT !
IKON ! FRANK RONALD WASHINGTON 262502-3-082-2000 262502-3-085-2007
INVESTMENTS INC MUTUAL BANK
MADISON AVE S
262502-3-074-2000 TOWN & COUNTRY MARKET INC

262502-3-073-2001 262502-3-116-2000 262502-3-084-2008
P:\Mapping\Maps_Generated\Winslow\07-10109.00\maps\Exhibit B - Winslow Way LID 11x17 - Legal.mxd
17
AMERICAN MARINE BANK
262502-3-081-2001
BJ U
NE 20
DR
SE
TOWN & COUNTRY MARKET INC
4114-001-001-0002
:
Data Source: Kitsap County GIS 2009.
This map is a geographic representation based on information available. It does not represent survey data.
No warranty is made concerning the accuracy, currency, or completeness of data depicted on this map. Legend City of Bainbridge Island - Winslow
MAP DATE: JUNE 2009 WINSLOW WAY RECONSTRUCTION
BHC CONSULTANTS LLC LID Boundary Same Ownership
1601 Fifth Avenue, Suite 500
Seattle, WA 98101
Parcels 1 inch = 150 feet
EXHIBIT B - WINSLOW WAY LID
T 206/505-3400
F 206/505-3406
www.bhcconsultants.com 0 75
Feet
150 PROPERTY OWNER SUPPORT
30
LID PROPERTY ASSESSMENTS
EXHIBT C
LID County Tax Roll County County City Records AREA Area Front Side LID
ID Acct # Name Delivery Address City, State, Zip Site Address Name (Sq.Ft.) (Acre) (ft) (ft) Assessment
1 262502-3-160-2005 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98110 380 Winslow Way E Virginia Mason Winslow 24,829 0.57 200 125 1A - 1B - 1C
1A 262502-3-049-2002 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 141 Ericksen Ave NE Haggar Scribner Properties 3,920 0.09 $ 8,239.67
1B 262502-3-048-2003 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 143 Ericksen Ave NE Haggar Scribner Properties 10,454 0.24 $ 23,599.06
1C 262502-3-050-2008 Virginia Mason Winslow 380 Winslow Way E Bainbridge Island, WA 98111 380 Winslow Way E Haggar Scribner Properties 10,454 0.24 $ 63,497.46
2 262502-3-054-2004 Haggar Scribner Properties, LLC 3091 Point White Dr. NE Bainbridge Island, WA 98110 310 Winslow Way E Haggar Scribner Properties 12,197 0.28 74 192 $ 54,597.82
3 262502-3-146-2004 Sandstrom Property, LLC 5725 NE 77th St. Seattle, WA 98115 278 Winslow Way E Sandstrom Property, LLC 39,640 0.91 196 192 $ 90,546.38
4 262502-3-056-2002 Winslow Hardware & Mercantile 1237 Hawley Way NE Bainbridge Island, WA 98110 240 Winslow Way E Schuricht 10,019 0.23 50 202 $ 31,498.74
5 262502-3-060-2006 Brandt, James & Linda POB 11187 Bainbridge Island, WA 98110 210 Winslow Way E Brandt, James & Linda 4,792 0.11 65 80 $ 32,128.71
6 262502-3-058-2000 Brandt, James & Linda POB 11187 Bainbridge Island, WA 98110 Parking Lot Brandt, James & Linda 15,682 0.36 75 54 $ 9,739.61
7 262502-3-059-2009 Brandt, James & Linda POB 11188 Bainbridge Island, WA 98111 150 Winslow Way E Brandt, James & Linda 4,356 0.1 196 403 $ 15,269.39
8 262502-3-062-2004 Roberts Jewelery POB 345 Indianola, WA 98342 194 Winslow Way E Roberts Jewelery 5,227 0.12 52 92 $ 20,979.16
9 262502-3-063-2003 Burlingame, Frank & Joanne 9658 NE Yaquina Bainbridge Island, WA 98110 176 Winslow Way E Burlingame, Frank & Joanne 5,663 0.13 62 92 $ 26,298.95
10 262502-3-069-2007 Miller, Earl & Linda 205 Ludlow Bay Rd Port Ludlow, WA 98365 156 Winslow Way E Miller, Earl & Linda 19,166 0.44 81 302 $ 47,268.11
11 262502-3-072-2002 Miller, Earl & Linda 205 Ludlow Bay Rd Port Ludlow, WA 98365 106 Madison Ave N Miller, Earl & Linda 13,939 0.32 120 115 $ 51,477.94
12 262502-3-073-2001 IKON INVESTMENTS INC 8725 Sportsman Club Rd NE Bainbridge Island, WA 98110 101 Madison Ave S Lubovich 5,663 0.13 35 160 $ 14,859.41
13 262502-3-024-2001 East Winslow Property, LLC 205 Ludlow Bay Rd Port Ludlow, WA 98365 119 Winslow Way E Miller, Earl & Linda 8,712 0.2 90 160 $ 47,228.11
14 262502-3-074-2000 McCrary Frank Ronald 19136 Viking Way NW Poulsbo, WA 98370 155 Winslow Way E McCrary Frank Ronald 18,731 0.43 120 160 $ 68,607.26
15 262502-3-077-2007 McCrary Frank Ronald 19136 Viking Way NW Poulsbo, WA 98370 191 Winslow Way E McCrary Frank Ronald 10,019 0.23 63 160 $ 36,078.56
16 262502-3-116-2000 Washington Mutual Bank PO BOX 7788 Newport Beach, CA 92658 231 Winslow Way E Washington Mutual Bank 14,375 0.33 92 150 $ 43,448.26
17 262502-3-081-2001 American Marine Bank PO BOX 10788 Bainbridge Island, WA 98110 249 Winslow Way E Rodac 41,382 0.95 100 295 $ 69,937.20
18 262502-3-082-2000 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 256 Winslow Way E Town & Country Market, Inc. 14,810 0.34 100 150 $ 48,828.05
19 262502-3-084-2008 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 343 Winslow Way E Town & Country Market, Inc. 48,787 1.12 311 150 $ 125,714.97
20 4114-001-001-0002 Town & Country Market, Inc. 2208 NW Market #507 Seattle, WA 98107 Parking Lot Town & Country Market, Inc. 58,370 1.34 372 188 $ 41,168.35
21 262502-3-085-2007 American Marine Bank Trust Dept. PO BOX 10788 Bainbridge Island, WA 98110 393 Winslow Way E American Marine Bank Trust Dept. 9,148 0.21 65 140 $ 28,988.84
Christian Science of Bainbridge Christian Science of Bainbridge
22 262502-3-083-2009 Island PO BOX 10488 Bainbridge Island, WA 98110 295 Winslow Way E Island 871 0.02 25 40 Not Assessed
TOTAL ASSESSED $ 1,000,000.01
City of Bainbridge Island 31
DEPARTMENT OF FINANCE AND
ADMINISTRATIVE SERVICES
MEMORANDUM
TO: City Manager, Mark Dombroski
City Councilmembers
FROM: Director of Finance & Administrative Services, Elray Konkel
DATE: July 29, 2009
RE: Preliminary Monthly Financial Update, through June 30, 2009:
This report and the attached charts and supporting schedules provide a financial update
and overview representing the preliminary financial position of the City through June 30,
2009. Management reports the status of City operations under the following categories:
CASH
Tax Supported Funds
Cash balances in tax-supported funds (excluding special revenue funds)
decreased by $.86ml from $2.81ml to $1.95ml as June is historically the lowest
month of the year for inflows. There is continued restraint in operating
expenditures but June reports show scheduled debt service and capital projects of
$.7ml. The tax supported month end cash balance is augmented by $.52ml in
reconciling items resulting in a bank balance of $2.47ml.
Utility Funds
Cash balances in utility funds decreased by $1.09ml from $4.00ml to $2.91ml with
normal monthly receipts offset by scheduled Wastewater Treatment Plant related
payments. Balances in Water and SSWM are expected to be maintained in future
months with receipts but the Sewer construction activity and scheduled debt
service in June will significantly depleted cash in that fund by the end of the
month. An interfund loan from the Water Fund of an amount not to exceed $3ml
was passed by the City Council on May 13, 2009 to supplement the Sewer Fund
until legal issues are addressed and permanent financing can be obtained to
finish the Waste Water Treatment Plant project. At month end, it was necessary to
draw $.825ml on that loan to maintain positive cash flows for the Sewer Fund. The
utility fund month end cash balance is augmented by $.20ml in reconciling items
resulting in a bank balance of $3.11ml.
REVENUES
Tax Supported Funds
2009 revenues of the tax-supported funds while showing continued weakness
across the board are still exceeding cash flow assumptions for the first half of the
280 MADISON AVENUE NORTH BAINBRIDGE ISLAND, WA 98110-1812
PHONE: (206) 780-8619 FAX: (206) 780-8599 EMAIL: ekonkel@ci.bainbridge-isl.wa.us
www.ci.bainbridge-isl.wa.us
year and when compared to the January and April reductions as approved by the
32
City Council. Lower than expected Sales Tax revenues for the first 6 months are
offset by higher than projected Building and Development Services fund
revenues. Property tax receipts through June are also not showing the projected
declines but we will continue to monitor the major revenue categories closely as
well as the overall revenue picture that continues to be positive.
Revenue projections and the revised 2009 Budget for revenues in the charts
reflect the January and April reductions. Revenues, year to date, show a year
over year decline of only $.16ml further exhibiting stabilization.
Utility Funds
Normal utility receipts brought revenues for the combined utilities to $4.07ml for
year to date figures. Utility Revenues year to date for 2009 are $.49ml ahead of
2008. Water utility connection fees continue to underperform due to low levels of
development while Sewer and Stormwater connections are tracking budget on an
annualized basis.
OPERATING EXPENDITURES
Tax Supported Funds
There is continued restraint in operating expenditures reflected by salary and
benefits clearly $.27ml less than January of this year. June reports show
scheduled debt service and capital projects of $.7ml. Tax supported operating
expenditures of $9.46ml for the period including encumbrances of $1.61ml are
tracking at 56.1% of the revised budget and 46.55% without encumbrances. The
Executive Department has instituted City Council approved reductions in annual
budgeted operating expenditures for the year but the full results of staff reductions
are only now being recognized and will continue over the months following. Year
over year the operating actual expenditures have decreased $1.74ml for the first
half of the year. The as reduced budgeted operating expenses for 2009 are
$16.9ml versus $20.6 for 2008 (also as revised), a $3.7ml reduction.
Utility Funds
Operating expenditures of the Utility funds are tracking at $3.21ml or 55.86% with
encumbrances of $.33ml or $2.88ml and 50.18% without. Continued heavy
workloads and shifting of labor resources from the tax supported funds to maintain
and support required utility work brought salaries and benefits in at 61.2% of
budget. Considerable savings in Supplies and Services and Charges offset this,
which brings overall operating expenditures in line with budget.
CAPITAL/DEBT SERVICE EXPENSE

Tax Supported Funds
Capital projects are continuing slowly but with the receipt of the first half of the
year in property taxes, they are expected to pick up in the summer months.
Capital expense through June was $2.60ml with $2.06ml of that encumbered.
Debt service through June reflects a refunding of $5.3ml but was otherwise as
33
scheduled. The City will save more than $.116ml in each of 2009 and 2010 on the
refunding. Debt Service Payments in June were $.43ml.
Utility Funds
Capital project expenditures recorded in the utilities funds continued strong
through June at $6ml with $3.8 of that encumbered predominately in connection
with the Waste Water Treatment Plant. Construction expense for the Plant will
continue to run from $.15ml to $.5 a month through 2009. Scheduled debt service
payments in the utility funds in June were $.81ml.
DEBT/FINANCIAL MARKETS
As of July 29, 2009 the yield for a 20-year, triple-A rated, tax-exempt general
obligation bond is 4.44%, down .05% from one month ago and down .51% from
4.95% 6-months ago (Bloomberg online, July 29, 2009). In September of 2008,
COBI issued 20-year capital bonds with an overall yield of 4.46%. In March of
2009, the City refunded $5.3ml of its 1998 LTGO bonds, which financed City Hall
and other street improvements for a savings of $.116ml in 2009, and $.116ml in
2010. The Sewer Utility expects to issue $6.0ml in Bonds/Notes later in the year
to complete funding for the Waste Water Treatment Plant. Legal concerns have
necessitated a delay in issuing a 1-3 year bridge loan or bond anticipation note
option for the project. On May 13, City Council approved an interfund loan from
the Water Fund to the Sewer Fund in an amount not to exceed $3ml, which as of
the date of this report has $1m drawn upon.
AUTHORIZED POSITIONS/VACANCIES
The City currently has 127.47 FTEs and 22 vacant positions. Of the 22 vacant
SRVLWLRQVRIWKHPDUH³RQKROG´ZLWKDQLQWHQWLRQWRILOODVIXQGLQJLQFUHDVHV. 11
RIWKHSRVLWLRQVDUH³XQIXQGHG´GXHWRDUHGXFWLRQLQIRUFHDQGPD\EHUHLQVWDWHG
at a later time as need arises. 2 positions are being recruited at this time.
The City Engineer, who had also taken on a portion of the Public Works Director
duties, resigned in July. His resignation has created the need for restructuring the
management of Public Works and assigning those duties on an interim basis. The
Public Works Deputy Director ± Operations & Maintenance will now be the interim
Public Works Director. The PCD Deputy Director will now be the interim City
Engineer and the Water Resources Manager will be taking on the day-to-day
management of the division in a temporary position as the Public Works Manager.
The City will be conducting a recruitment for a new Public Works Director
immediately. Once the Director his hired we will begin the search for a new
Engineering Manager/City Engineer. After research and discussion, it was
deemed unnecessary to have a separate City Engineer position. The decision
was to combine the City Engineer duties at the management level rather than at
the Director level. This allows the Director recruitment to be broader as the PE
requirement will be removed.
The City has moved forward with filling the Senior Police Clerk and plan on having
the new employee in place by August 17. This decision was based on the need to
have backup for legally required report transmission that come from the police
34
and proper coverage of the Police front desk. Previously parking enforcement was
used as back-up at the front desk as needed and with the reduction of parking
enforcement from 1.5 employees to .5 employees this has caused a gap in
coverage.
ECONOMIC OUTLOOK
Much talk has been made recently on the economy and a catch phase has
GHYHORSHG ³JUHHQ VKRRWV RI UHFRYHU\´ WR GHVFULEH VRPH SRVLWLYH PRYHPHQW LQ
certain economic indictors and activities. Some may wish to interpret the data in
such a way, but the reality in Puget Sound is there is still plenty to worry about.
According to Conway Pedersen Economics, a regional firm specializing in Puget

6RXQG HFRQRPLFV ³the mixed performance of the leading index components in
recent months is encouraging. No individual component is free falling.
Manufacturing hours have climbed three months in a row and the interest rate
spread has widened in each of the last five months. At some point, a sustained
rise in a majority of the components will signal that an economic recovery is
imminent. On the other hand, as mentioned in the June newsletter, the regional
economy is not expected to begin a recovery until the second quarter of next year,
which means that, based on past patterns, we would not expect the leading index
to move consistently higher until late this year.´ (Puget Sound Economic
Forecaster Monthly Leading Index, Conway Pedersen Economics, July 13, 2009)
³Another interpretation of the positive movement of the leading index in April and
May is that the recovery will come sooner than expected. But considering that we
have only two advancements in the bag and that monthly economic data are
highly volatile, this explanation seems a bit of a stretch at this point. Two more
monthly gains in the leading index would make a much more compelling case.
Stay tuned.´(Puget Sound Economic Forecaster Monthly Leading Index, Conway
Pedersen Economics, July 13, 2009)
Because the Bainbridge Island economy is so dependent in real estate and

development, it is important to keep tabs on where the housing market is going.
Since the current economic crisis was precipitated by the housing bubble, we
should expect little improvement until the housing market stabilizes, according to
Conway Pedersen Economics. ³If that is correct, we may be witnessing the first
signs of the regional economic recovery. Over the three-month period ending in
May, closed home sales increased at a 28.9 percent annual rate, while residential
building permits rose at a 48.9 percent rate. Home prices fell at a 19.9 percent
rate between February and May but increased at a 15.3 percent rate between
March and May. More specifically, the average house price, after dropping from
$368,600 in February to $341,500 in March, rose to $350,200 in May. It is too
early to conclude that the housing market has found its way back, especially
considering the extremely low volume of home sales and housing permits at the
present time, but these are the kind of numbers that one would expect to see
around the turning point.´ (Puget Sound Economic Forecaster Monthly Leading
Index, Conway Pedersen Economics, July 13, 2009)
35
³If the housing market is in fact on the upswing, it is just the first step in what is
likely to be a drawn-out recovery. It will take another few months before regional
production begins to expand again and even longer before there is job growth.
Our current outlook calls for the Puget Sound housing market to improve, though
not spectacularly, in the second half of 2009. On the other hand, regional
employment will not bottom out²and the unemployment rate will not top out²
until the first quarter of 2010.´ (Puget Sound Economic Forecaster Monthly
Leading Index, Conway Pedersen Economics, July 13, 2009)
Information from Washington State supports the opinion of Conway Pedersen

Economics. The SWDWH¶VUHFHQWUHOHDVHVWDWHG³The tentativeness in the national
economic recovery during the last month is not reflected in Washington data.
Initial jobless claims are trending downward, and payroll employment registered a
second month of moderate decline, providing more evidence that the free-fall
phase is over. Housing permits too, came in ahead of our June forecast. The only
discordant note was a modest decline in our state population growth.´
(Washington State Economic and Revenue Forecast Council, Economic and
Revenue Update, July 13, 2009).
With these mixed signals and a lack of absolutes in whether the crisis is bottoming
out, rebounding or just bouncing around, we should be cautioned in our
forecasting and continue to watch what is happening around us.
Attachments
Attached are the following supporting charts and schedules:
Tax Supported Funds/ Utility Funds Charts
o Cash balances current month end, prior month end and year-
end budgetary reserves versus estimated year end estimated
cash.
o Revenues, current month and year to date, prior year to date,
and year-end budget as revised.
o Operating and Capital Expenditures, current year to date,
prior year to date, and year-end budget as revised.
Cash Balances Bank and Book current month and prior months
Revenue Report - Budget to Actual
Summary Expenditure Report All Departments
Summary Expenditure Report Tax Supported Funds
Summary Expenditure Report Utility Funds
July Cash Flows (including actuals of June)
Bloomberg.com report on Municipal Bond Market July 29, 2009
Bloomburg.com report on Key Rates July 29, 2009
Siebert Brandford Shank, July 28³8SGDWHRQ&XUUHQW
&RQGLWLRQVLQWKH&UHGLW0DUNHWV´
State of Washington, ³Economic & Revenue Update´-Xly 13, 2009
Windermere Realty report through June, 2009
36
7KHDERYHILQDQFLDOUHSRUWVZLOOEHSRVWHGWRWKH&LW\¶V:HEVLWHRUDUHDYDLODEOHIURPWKH
Finance and Administrative Services Department.
In addition to the above listed reports, WKH&LW\¶V:HEVLWHZLOOLQFOXGH the following month

end reports:
Consolidated Balance Sheet all funds
Combined Tax Supported Funds Balance Sheet
Combined Utility Funds Balance Sheet
Individual Fund Balance Sheets
If you have any questions, please give me a call.

MONTHLY FINANCIAL SUMMARY (in millions of $)
For the month ending June 30, 2009
$3.00 $2.81 $14.00

$11.98
$2.50 $12.00
$1.95 $10.00 $9.51

$2.00
$8.00
$1.50
$1.20
$1.00 $6.00
$1.00
$4.00
$0.50
$2.00
$0.00 $0.00
Tax Supported Cash/Book Balance Tax Supported YTD Capital/Debt Service Expenses
May-09 Jun-09 Budgetary Reserves Estimated YE Cash Jun-09 2009 Budget Adjusted
$25.00 $25.00 $21.9

$21.9
$20.00 $20.00
$15.00 $15.00
$10.56 $10.38
$10.00 $10.00
$5.00 $1.91 $5.00

$1.03
$0.00 $0.00
Tax Supported Month to Date Revenues Tax Supported Year to Date Revenues
Jun-08 Jun-09 2009 Budget Adjusted Jun-08 Jun-09 2009 Budget Adjusted
$18.00 $16.9 Notes:

$16.0
$16.00 1. Based upon unaudited financial statements for June, 2009
$14.00 2. Figures reflect amounts prior to year-end accruals and adjustments
$12.00 $11.20 3. Budgetary reserves do not represent separate fund balances
$9.46 4. Operating and capital expenses include encumbrances
$10.00
$8.00 5. Seasonality may skew month to date figures when compared to
$6.00 year end figures
$4.00
$2.00
$0.00
37
Tax Supported YTD Operating Expenses
Jun-08 Jun-09 Estimated YE Expense 2009 Budget Adjusted

7/30/2009 Page 1 of 2 Monthly Financial Summary June 2009
MONTHLY FINANCIAL SUMMARY (in millions of $)
For the month ending June 30, 2009
$4.50 $4.00 $16.00 $14.28

$4.00 $14.00
$3.50 $12.00
$2.91 $2.75
$3.00
$10.00 $8.24
$2.50
$8.00
$2.00
$6.00
$1.50
$1.00 $4.00
$0.50 $2.00
$0.00 $0.00
Utility Cash/Book Balance Utility YTD Capital/Debt Service Expenses
May-09 Jun-09 Budgetary Reserves Jun-09 2009 Budget Adjusted
$10.00 $8.9 $10.00 $8.9

$9.00 $9.00
$8.00 $8.00
$7.00 $7.00
$6.00 $6.00
$5.00 $5.00 $4.07
$4.00 $4.00 $3.58
$3.00 $3.00
$2.00 $1.00 $2.00
$0.62
$1.00 $1.00
$0.00 $0.00
Utility Month to Date Revenues Utility Year to Date Revenues
Jun-08 Jun-09 2009 Budget Adjusted Jun-08 Jun-09 2009 Budget Adjusted
$7.00 Notes:
$5.8 $5.8 1. Based upon unaudited financial statements for June, 2009
$6.00
2. Figures reflect amounts prior to year-end accruals and adjustments
$5.00
3. Budgetary reserves represent separate fund balances
$4.00 $3.21 4. Operating and capital expenses do not include encumbrances
$2.99
$3.00 5. Seasonality may skew month to date figures when compared to
year end figures
$2.00
6. Results are reported on a consolidated basis for water, sewer and
$1.00 storm water utilities
$0.00
Utility YTD Operating Expenses

38
Jun-08 Jun-09 2009 Budget Adjusted Estimated YE Expense
7/30/2009 Page 2 of 2 Monthly Financial Summary June 2009

39
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BLOOMBERG
Government Bonds
53
U.S. Treasuries
MATURITY CURRENT PRICE/YIELD

COUPON TIME
DATE PRICE/YIELD CHANGE
3-MONTH 0.000 10/29/2009 0.17 / .18 -0.002 / -.002 20:00
6-MONTH 0.000 01/28/2010 0.25 / .25 0 / -.000 20:31
12-MONTH 0.000 07/29/2010 0.46 / .47 -0.009 / -.009 20:22
2-YEAR 1.000 07/31/2011 99-20½ / 1.18 -0-01½ / .024 20:36
3-YEAR 1.500 07/15/2012 99-15 / 1.68 0-00 / .000 20:45
5-YEAR 2.625 07/31/2014 99-29½ / 2.64 0-03+ / -.021 20:45
7-YEAR 3.250 07/31/2016 100-00½ / 3.51 98-13½ / 3.506 20:00
10-YEAR 3.125 05/15/2019 95-30+ / 3.62 0-10 / -.039 20:53
30-YEAR 4.250 05/15/2039 97-04+ / 4.42 1-11½ / -.085 20:16
INFLATION INDEXED TREASURY

MATURITY CURRENT PRICE/YIELD
COUPON TIME
DATE PRICE/YIELD CHANGE
5-YEAR 1.250 04/15/2014 100-11 / 1.17 0-09 / -.065 20:35
10-YEAR 1.875 07/15/2019 101-12 / 1.72 0-26 / -.091 07/30
20-YEAR 2.500 01/15/2029 104-05 / 2.24 1-17 / -.096 20:32
30-YEAR 3.375 04/15/2032 122-09 / 2.13 1-17 / -.076 20:32
Municipal Bonds
NATIONAL MUNICIPAL BOND YIELDS:

TRIPLE-A RATED, TAX-EXEMPT GENERAL OBLIGATION BONDS
CURRENT PREVIOUS CHANGE IN 28% EQ 1 WEEK PRIOR 1 MONTH PRIOR 6 MONTH PRIOR
YIELD YIELD YIELD YIELD YIELD YIELD YIELD
2-YEAR 0.77% 0.81% -0.04% 1.07% 0.83% 0.97% 1.21%
5-YEAR 1.84% 1.87% -0.03% 2.56% 1.87% 2.18% 1.83%
7-YEAR 2.44% 2.43% 0.01% 3.39% 2.43% 2.78% 2.30%
10-YEAR 3.32% 3.32% 0.00% 4.61% 3.28% 3.52% 3.27%
15-YEAR 4.04% 4.05% -0.01% 5.61% 4.02% 4.10% 4.35%
20-YEAR 4.42% 4.43% -0.01% 6.14% 4.39% 4.48% 4.92%
30-YEAR 4.84% 4.84% 0.00% 6.72% 4.82% 4.85% 5.02%
As of July 1st 2009 Bloomberg L.P. will no longer be designated a Nationally Recognized Municipal Securities
Information Repository (NRMSIR). The Municipal Securities Rulemaking Board (MSRB) in conjunction with the
Securities and Exchange Commission is eliminating the role of the repository and forming a single central
disclosure hub that will be run by the MSRB. Please visit: http://emma.msrb.org to access the new disclosure
system.
Contact Information
Muni Material Events
54
BLOOMBERG
Key Rates
1 MONTH 3 MONTH 6 MONTH 1 YEAR

CURRENT
PRIOR PRIOR PRIOR PRIOR
FED FUNDS RATE .15 .31 .21 .12 1.75
FED RESERVE
.25 .25 .25 .25 2.00
TARGET RATE
PRIME RATE 3.25 3.25 3.25 3.25 5.00
US UNEMPLOYMENT
9.50 9.40 8.50 7.20 5.60
RATE
1-MONTH LIBOR .28 .31 .41 .42 2.46
3-MONTH LIBOR .48 .60 1.02 1.18 2.80
Mortgage* (National Average)

CURRENT
30-YEAR FIXED 5.39 5.37 4.87 5.33 6.41
15-YEAR FIXED 4.84 4.84 4.62 5.06 5.95
5/1-YEAR ARM 4.58 4.79 4.75 5.59 5.87
1-YEAR ARM 3.98 4.05 4.71 5.4 5.71
30-YEAR FIXED JUMBO 6.45 7.1 6.36 6.88 7.57
15-YEAR FIXED JUMBO 5.98 6.67 5.86 6.14 6.89
5/1-YEAR ARM JUMBO 5.27 5.94 5.27 5.97 6.33
*Rates may include points.
CDs (National Average)

CURRENT
5-YEAR 2.65 2.64 2.72 2.82 4.2
2-YEAR 1.96 2.02 2.19 2.41 3.8
1-YEAR 1.66 1.76 2.02 2.31 3.62
6-MONTH 1.29 1.34 1.59 1.88 3.16
1-MONTH 0.47 0.47 0.72 0.9 1.94
5-YEAR JUMBO 2.78 2.76 2.91 2.98 4.35
2-YEAR JUMBO 1.99 2.05 2.28 2.52 3.9
1-YEAR JUMBO 1.7 1.77 2.1 2.43 3.72
6-MONTH JUMBO 1.34 1.37 1.63 2.02 3.24
1-MONTH JUMBO 0.48 0.48 0.71 0.91 1.95
Unless indicated otherwise: intraday data is at least 15 minutes delayed; mutual fund NAVs are updated at the
close of every market day; all prices are in the local currency; Time is ET.
55
Update on Current Conditions in the Credit Markets

(July 28, 2009)
Macroeconomic Analysis
The New York Federal Reserve said on Friday it bought $3.235 billion of U.S. agency debt with maturities ranging
from August 2011 to June 2013.
The Reuters/University of Michigan Surveys of Consumers said its final July consumer sentiment reading fell to 66.0
from June's 70.8, though it was slightly higher than economists' median expectation for a reading of 65.0, according
to a Reuters poll.
Recent Developments with the Monoline Insurers

Moody's S&P Fitch
AMBAC Ba3 developing outlook 4/13/2009 BBB negative watch 6/24/2009 rating withdrawn 6/26/2008
ASSURED Aa2 negative watch 5/20/2009 AAA negative outlook 7/1/2009 AA evolving watch 5/4/2009
BHAC Aa1 stable outlook 4/8/2009 AAA negative outlook 3/24/2009 not rated
CIFG Ba3 developing outlook 1/22/2009 CC negative outlook 6/15/2009 rating withdrawn 10/21/2008
FGIC rating withdrawn 4/14/2009 rating withdrawn 4/22/2009 rating withdrawn 11/24/2008
FSA Aa3 negative watch 5/20/2009 AAA negative outlook 4/21/2009 AA+ negative watch 5/11/2009
MIAC*
NATIONAL** Baa1 developing outlook 6/25/2009 A developing outlook 6/5/2009 rating withdrawn 6/26/2008
RADIAN Ba1 stable outlook 3/12/2009 BBB- negative watch 4/8/2009 rating withdrawn 5/2/2008
SYNCORA*** Ca developing outlook 3/9/2009 CC negative outlook 1/29/2009 rating withdrawn 9/5/2008
* Backed by Macquarie Group and Citadel Investment Group hedge fund
**Formerly MBIA
***Formerly XL Capital
Municipal Fixed Rate Market

Important Market Observations: New Historic Wides in MMD Scale Since 2001
The spread between 20-30 year MMD is now 54 basis points – an all-time high since 2001. The average since 2001 is
17.64 basis points.
The spread between 20-25 year MMD is now 41 basis points– an all-time high since 2001. The average since 2001 is
13.63 basis points.
The spread between 15-30 year MMD is now 103 basis points– an all-time high since 2001. The average since 2001 is
46.38 basis points.
Treasuries for the week saw heavy selling with 30-year bonds losing over 5 points in value and 10-year bonds trading
lower by +/- 3 points.
The front end of the curve continued to show strength while intermediate and long bonds came under pressure. 10-
year MMD ended the week down 1 basis point at 3.00% and 30-year MMD ended the week up 6 basis points at
4.70%. That said our view is that municipal bond prices were 5-10 basis points cheaper than the week prior.
MMD – US Treasury Ratio
Since 7/1/2004 Since 1/2/2008
Maturity MMD (Close 7/24) Minimum Maximum Average Average Current (7/24) Last Update (7/17)
1-year 0.42 51.75 257.58 83.62 100.90 87.87 91.30
5-year 1.75 70.63 229.46 87.76 108.32 68.90 72.54
10-year 3.00 77.63 190.45 90.13 105.12 81.74 83.94
15-year 3.68 81.05 215.36 97.77 119.11 101.49 97.09
20-year 4.16 81.96 221.82 100.95 123.35 105.09 103.25
30-year 4.70 82.74 212.27 101.71 119.05 102.64 103.83
Quality spreads remained stable on the week ended 7/24, and with this week’s calendar at $5.6 billion, we expect
these spreads to hold steady.
This week’s preliminary calendar includes $495 million City of Houston Public Improvement bonds (SBS is CM),
$330 million of Metropolitan Water District of Southern California bonds (SBS is CM), $223 million of
Massachusetts Water Pollution Abatement Trust SRF bonds (SBS is CM), $194 million of City of Oakland bonds
(SBS is CM).
Build America Bonds (“BABs”)
California BABs continued to perform very well this week with spreads narrowing into the +301 range from +330
last week.
56
The following are the Build America Bond secondary market spreads as of Friday (7/24):
Transaction State of California University of Texas Dallas Area Rapid Transit
Sale Date 4/22/2009 6/10/2009 6/16/2009
Ratings A2/A/A Aaa/AAA/AAA Aa3/AAA/NR
Selected Maturity 2039 2041 2034
Call Provisions Non-Callable 10-year Par Call 10-year Par Call
Initial Taxable Yield (%) 7.43 6.275 6.249
Initial Spread to Treasury (bps) 365 +153 175
Current Spread to Treasury (bps) +301 +160 +192
Initial Tax-Exempt Equivalent Yield(%)1 4.83 4.08 4.06
Initial Spread to MMD (bps)1 46 (64) (59)
Current Spread to MMD (bps)1 26 (60) (45)
1Tax-Exempt Equivalent Yield takes into account the 35% interest-cost rebate from the U.S. Treasury
Visible Supply
30-day tax-exempt visible supply is approximately $11.8 billion.
The maximum visible supply over the last 60 days was $20.4 billion, while the minimum was $9.2 billion. The average
forward volume over the same period totaled $13.6 billion.
Municipal Variable Rate Market

SIFMA reset at a 0.37%, approximately 131.63% on a day count adjusted basis of 1-month LIBOR (0.285%) and
74.47% on a day count adjusted basis of 3-month LIBOR (0.504%).
Derivatives Market
Municipal Swap rates were unchanged to up 6 basis points along the curve as of Monday’s close since Monday, July
20th. 20-Year SIFMA swap rates were up by 6 basis points to 3.640% from 3.584% over the same period.
Ratio (“tax”) risk value decreased a bit over the week with 20-year SIFMA ratios (SIFMA swap rates divided by
LIBOR swap rates) down to 84.50% from 85.75% last Monday. In the current market swap dealers are willing to pay
41 bps above 70% of LIBOR in return for receiving SIFMA for 20 years versus 43 bps a week ago. On $100 million
of notional, the fixed spread translates to $410 thousand of positive cash flow assuming that SIFMA averages 70% of
LIBOR over the life of the trade.
Option value decreased slightly over the week with volatility on an option to enter into a 15-year swap, 5 years from
today decreasing to 21.920% from 22.245%. Option value is still substantial and issuers may pick-up significant value
by selling options on entering into swaps.
Disclaimer
All information and opinions expressed in this document were obtained from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to its accuracy or
completeness. All information and opinions as well as any prices indicated are currently only as of the date of this report, and are subject to change without notice. Any estimations or projections as to events that may occur
in the future (including projections of market performance) are based upon the best judgment of Siebert Brandford Shank & Co., L.L.C. ("SBS") from publicly available information as of the date of this report. There is
no guarantee that any of these estimates or projections will be achieved. SBS expressly disclaims any and all liability relating or resulting from the use of this report.
ECONOMIC & REVENUE UPDATE 57
___________________________________________________________________
13 JULY 2009
The Fed balance sheet has grown significantly
U.S.
2,500
The economy is passing through an early

summer lull, as the winds that were 2,000
lifting it toward recovery appear to be
flagging. Yet, this is not something that
USD Billions
1,500
was unanticipated in our June forecast. It Fed Stimulus:
is normal for an economy headed for a USD 1 trillion
trough after a long and hard recession, to 1,000
pause for breath. We continue to believe

that the recession will bottom out by the 500
third quarter of this year, followed by a

slow U-shaped recovery. There is a 0
considerable amount of stimulus in the 2007 2008 2009
pipeline that has yet to work its way

through the system and many of the much better than the first quarter’s
“green shoots” we noticed in the spring average monthly loss of 691,000 jobs.
remain green. Whether or not June will
turn out to be the pause that refreshes,
Despite investor skittishness and
expectations getting ahead of reality, the
or the first sign of another leg down, only
economy remains on track for a recession
time will tell. We believe it is likely be the
trough by the third quarter. Of the USD
former.
787 billion federal fiscal stimulus, only
Both equity and bond markets are looking USD 56 billion have been disbursed
for direction. Expectations of a recovery through the second quarter. It is
have been clouded by doubt. Both the expected that another USD 200 billion
Dow and the S&P 500 are down about will be spent in the third quarter. The
7% from their peak on June 12, but are Federal Reserve has increased the size of
still 24% and 30% higher, respectively, its balance sheet by USD 1 trillion (see
from their March 9 low. Investors appear figure), effectively pumping that amount
to be anxious prior to the second quarter into the economy through innovative
earnings season, and much depends on quantitative easing. This too is working
the forecasts of future earnings that its way through the system.
companies provide at that time. The bond
market sell-off in late May that saw the
There are more reasons to be optimistic.
Trade data for May provided an upside
10-year treasury yield rise by close to 40
surprise. U.S. exports increased 1.6%
basis points has given way to a rally.
(SA) while imports fell by 0.6%.
Here too, expectations of a quick
Consequently, the trade deficit fell from
recovery have been overtaken by doubts
April’s USD 28.8 billion to USD 26 billion,
about the strength of the recovery. The
its lowest in a decade. This will give a
10-year treasury’s yields have now
boost to second quarter GDP, which may
dropped over 60 basis points since June
well turn out to be stronger than we had
10.
anticipated in our June forecast. Also with
Economic reports on employment have both Chrysler and GM out of bankruptcy,
disappointed. In June the economy shed published automotive production plans
467,000 jobs, which even after call for a sharp increase in production in
accounting for the reductions in that industry starting in July. This is
temporary census workers was higher further borne out by increases in truck
than May’s revised 322,000. The trend in tonnage indices in May – an indication
job losses, however, continues to slow. that parts and supplies are being shipped
Even June’s disappointing number was to plants.
Washington State Economic and Revenue Forecast Council ¸ 360-570-6100 ¸ www.erfc.wa.gov

ECONOMIC & REVENUE UPDATE
58
WASHINGTON were up from April. Despite the
improvement, however, housing activity
The tentativeness in the national
remains very depressed. Multi-family
economic recovery during the last month
construction, in particular, remains near
is not reflected in Washington data. Initial
all-time lows. Anecdotal evidence
jobless claims are trending downward,
suggests that it is virtually impossible to
and payroll employment registered a
get financing for multi-family housing
second month of moderate decline,
projects. The pace of new housing
providing more evidence that the free-fall
construction is now well below the
phase is over. Housing permits too, came
increase in demographic demand for
in ahead of our June forecast. The only
housing. Once the economic recovery is
discordant note was a modest decline in
in full swing by 2011, the excess housing
our state population growth.
stock will be largely absorbed, setting the
Washington weekly initial claims for stage for a recovery in housing
unemployment insurance have resumed construction.
their downward trend in June. For the
week ending July 4, the 4-week moving
Home prices in Seattle continue to
decline but at a slowing rate. Although it
average was at its lowest level since
was widely reported that the S&P Case-
February 14th. We continue to expect
Shiller index showed home prices rising in
that Washington employment will bottom
Seattle and in seven other metropolitan
out in the fourth quarter of this year, at
areas in April, this was a seasonal
about the same time the U.S. job market
illusion. Home prices normally go up in
hits bottom. Employment growth in the
the spring and summer and down in the
state is expected to turn positive in 2010,
fall and winter. On a seasonally adjusted
very gradually at first, gaining strength
basis, home prices fell in 16 of the 20
later in the year and in 2011.
cities tracked by the Case-Shiller index,
Payroll employment in Washington including Seattle. However, in every city
registered a second month of relatively but one the price fell less or rose more in
moderate job loss, losing 6,700 jobs in April than in March. In Seattle the April
May following a decline of 3,200 in April. decline was only 0.6% compared to an
This is a significant improvement over the average of 2.3% per month during the
previous five months when employment previous five months.
fell an average of 18,200 per month,
excluding the impact of the Boeing strike.
Washington’s population growth rate is
slowing as a result of the recession. The
The May job cuts were mostly in the
Office of Financial Management (OFM)
goods producing sectors. Construction
recently released a Washington
continued to be especially hard hit, losing
3,100 jobs. Manufacturing employment
Economy and housing weigh on WA population growth
was down 1,600 of which 100 were in
2.5
aerospace. We continue to believe that
there will be fewer and fewer job cuts
during the second half of the year. The 2.0
state unemployment rate, however, rose

from 9.0% in April to 9.4% in May, 1.5
Percent
matching the U.S. unemployment rate for

May. 1.0
Building permits issued in Washington

increased to a seasonally adjusted annual 0.5
rate of 15,600 in May from 12,100 in
April. This was better than we had 0.0
expected in our June forecast. Both 2000 2002 2004 2006 2008
single-family and multi-family permits
June 2009 Page 2

59
WASHINGTON (Continued) growth is both good news and bad news
for the Washington economy. Population
population estimate for April 1, 2009 growth adds to the labor supply and to
putting the state’s population at the demand for goods and services,
6,668,200, an increase of 80,600 (1.2 %) including housing. Thus, a slowdown in
over the previous year. This is 20,100 population growth has a negative impact
(0.3%) less than we had expected in the on aggregate economic activity. On the
June forecast. The state’s population other hand, slower labor supply growth is
grew 1.5% last year, down from 1.8% in good news for Washington’s unemployed,
2007 and 1.9% in 2006 (see figure who will face less competition for jobs.
above). Difficulty selling one’s home Also, the unemployment rate will peak
depresses mobility, and slows in- lower as a result of a slower growth in
migration. The slowdown in population the labor force.
REVENUE COLLECTIONS Revenue Act Collections*

Percent (Year-over-Year Percent Change)
20
Total General Fund-State Revenues
15
Major General Fund-State revenues for

10
the June 11 – July 10, 2009 collection 5
period were a relatively small $2.0 million 0 1

(0.2%) lower than our June forecast.

-5
The cumulative year-over-year decline in YoY % Change
-10
total General Fund-State revenues is Average Growth
$1.37 billion (9.7%). -15 (12-mo. ma)
-20
Revenue Act 1996 1998 2000 2002 2004 2006 2008

*Growth adjusted for new legislation and unusually large assessment payments, refunds etc.
The revenue collections reported here are
for the June 11 – July 10, 2009 collection Preliminary ERFC monthly estimates
period. This corresponds to economic indicate retail sales tax collections are
activity in May 2009. down 18.6% year-over-year, while B&O
Adjusted for special factors (large refunds
taxes managed a 1.0 percent gain.
in June 2008 and June 2009), collections Preliminary tax payments from electronic
in the current period are down 11.2% filers who also paid in the June 11 – July
from their year-ago level (see figure). 10 collection period of last year were
Unadjusted, the decline is 11.1%. down 13.6 % year-over-year.
Two large refunds in May 2009 were not Payments in the retail trade sector
reported in last month’s collection report. were down 9.6%. The greatest drops
Taking these refunds into account, the were in furniture and home
adjusted year-over-year decline in furnishings (-20.1%); motor vehicles
collections for the May 11 – June 10, and parts (- 19.4%); gas stations and
2009 collection period was 13.0 percent. convenience stores (-17.4%); and
The adjusted decline was previously building materials and garden
reported as 13.7 percent. equipment (11.5%)
Collections for this period are $7.4 million Payments in two major retail trade
(0.9%) above the June 2009 forecast. sectors showed a year-over-year
Cumulatively, collections are down $1.08
increase: drug and health stores
(+5.8%) and food and beverage
billion (9.4%) from FY 2008.
stores (+3.0 %).
June 2009 Page 3

60
Revenue Act (Continued) Surprising Strength in June Real Estate Activity
Washington Taxable Real Estate Excise Tax Activity, Seasonally Adjusted, Jan'90-Jun'09
Payments in non-retail trade sectors
$Billions
were down 16.1% year-over-year. 10
9
Payments in the construction sector
were down 21.4%, while those in the 8
manufacturing sector were down 7
39.1%. 6
Non-Revenue Act 4
June collections are down 11.0% year- 3
over-year. 2
Collections were $9.0 million (3.7%)

1
0
below the June forecast. 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008
Most of the shortfall was due to property

tax receipts (state school levy), which
came in $9.4 million (5.7%) below the
June forecast.
June taxable real estate activity showed
surprising growth (see figure). Real
estate excise tax came in $4.4million
(14.3%) above the forecast.
“Other” revenues came in $3.5 million
(10.2%) below the forecast due mainly to
more-than-forecasted reversals of
previous transfers of unclaimed property
into the General Fund.
July 2008 - June 2009 total collections
are $290.6 million (11.1%) below year-
ago levels.
The year-over-year decline in non-
Revenue Act collections is mostly due to
real estate excise tax collections, which
are down $274.2 million (41.3%)
cumulatively from fiscal 2008.
June Department of Licensing receipts
were $358 thousand (5.7%) below the
June forecast.
June 2009 Page 4

Key U.S. Economic Variables
2009
Jan. Feb. Mar. Apr. May Jun. 2007 2008
Real GDP (SAAR) - - -5.5 - - - 2.0 1.1
Industrial Production (SA, 2002 = 100) 100.2 99.4 97.6 96.9 95.8 - 111.4 109.2
Y/Y % Change -11.0 -11.5 -12.9 -13.0 -13.9 - 1.7 -2.0
ISM Manufacturing Index (50+ = growth) 35.6 35.8 36.3 40.1 42.8 44.8 51.1 45.5
ISM Non-Manuf. Index (50+ = growth) 42.9 41.6 40.8 43.7 44.0 47.0 - 47.4
Housing Starts (SAAR, mil.) 488 574 521 454 532 - 1,342 900
Y/Y % Change -54.9 -47.8 -47.5 -54.6 -45.2 - -25.9 -32.9
Light Motor Vehicle Sales (SAAR, mil.) 9.6 9.1 9.9 9.3 9.9 9.7 16.2 13.2
Y/Y % Change -37.7 -40.6 -34.7 -35.8 -30.5 -29.2 -2.3 -18.5
CPI (SA, 1982-84 = 100) 212.2 213.0 212.7 212.7 212.9 - 207.3 215.2
Y/Y % Change -0.2 0.1 -0.4 -0.6 -1.0 - 2.9 3.8
Core CPI (SA, 1982-84 = 100) 217.3 217.7 218.0 218.6 218.9 - 210.7 215.6
Y/Y % Change 1.7 1.8 1.8 1.9 1.8 - 2.3 2.3
IPD for Consumption (2000=100) 121.0 121.4 121.4 121.5 121.5 - 117.7 121.6
Y/Y % Change 0.8 1.0 0.6 0.5 0.1 - 2.6 3.3
Nonfarm Payroll Empl., e-o-p (SA, mil.) 134.3 133.7 133.0 132.5 132.2 131.7 138.2 135.1
Monthly Change -0.74 -0.68 -0.65 -0.52 -0.32 -0.47 1.15 -3.08
Unemployment Rate (SA, percent) 7.6 8.1 8.5 8.9 9.4 9.5 4.6 5.8
Yield on 10-Year Treasury Note (percent) 2.52 2.87 2.82 2.93 3.29 3.72 4.63 3.67
Yield on 3-Month Treasury Bill (percent) 0.13 0.30 0.22 0.16 0.18 0.18 4.47 1.39
Broad Real USD Index** (Mar. 1973=100) 94.5 95.8 101.1 95.8 95.6 - 92.5 88.7
Federal Budget Deficit ($ bil.)* 83.8 192.8 192.3 20.9 189.7 94.3 162.8 436.3
FYTD sum 569.0 761.8 954.1 975.0 1,164.6 1,258.9
US Trade Balance ($ bil.) -36.6 -26.1 -28.5 -28.8 -26.0 - -701.4 -695.9
YTD Sum -36.6 -62.7 -91.2 -120.0 -145.9 -
*Federal Fiscal Year 2008 runs from Oct. 1, 2007 to Sept. 30, 2008.
61
**Weighted average of U.S. dollar foreign exchange values against currencies of major U.S. trading partners, Federal Reserve.
July 2009 Page 5

Key Washington Economic Variables
2009
Jan. Feb. Mar. Apr. May Jun. 2007 2008
Employment End-of-period
Total Nonfarm (SA, 000) 2,904.4 2,884.2 2,864.4 2,861.2 2,854.5 - 2,963.2 2,913.3
Change from Previous Month (000) -8.9 -20.2 -19.8 -3.2 -6.7 - 71.7 -49.9
Construction 182.8 179.1 173.7 171.9 168.8 - 209.3 185.1
Change from Previous Month -2.3 -3.7 -5.4 -1.8 -3.1 - 9.0 -24.2
Manufacturing 280.3 278.1 274.1 271.0 269.4 - 296.3 284.7
Change from Previous Month -4.4 -2.2 -4.0 -3.1 -1.6 - 6.2 -11.6
Aerospace 85.3 84.8 84.3 83.6 83.5 - 82.9 85.5
Change from Previous Month -0.2 -0.5 -0.5 -0.7 -0.1 - 6.1 2.6
Software 52.6 52.7 52.7 52.2 51.7 - 48.4 53.0
Change from Previous Month -0.4 0.1 0.0 -0.5 -0.5 - 2.0 4.6
All Other 2,388.7 2,374.3 2,363.9 2,366.1 2,364.6 - 2,409.2 2,390.5
Change from Previous Month -1.8 -14.4 -10.4 2.2 -1.5 - 54.5 -18.7
Other Indicators Annual Average

Seattle CPI (1982-84=100) - 224.7 - 225.9 - - 215.7 224.7
- 1.4% - 1.2% - - 3.9% 4.2%
Housing Permits (SAAR, 000) 19.2 12.1 14.1 12.1 15.6 - 45.6 27.3
-37.8% -63.3% -53.7% -61.5% -47.2% - -4.5% -40.2%
WA Index of Leading Ind. (2004=100) 109.9 106.8 105.2 106.1 106.5 - 115.7 115.4
-5.5% -9.0% -10.5% -9.9% -8.8% - 4.9% -0.3%
WA Business Cycle Ind. (Trend=50) 12.7 6.5 3.5 0.4 -1.0 - 59.0 36.4
-74.1% -86.7% -92.2% -99.0% -102.4% - -0.9% -38.2%
Avg. Weekly Hours in Manuf. (SA) 43.4 42.5 40.8 41.5 41.4 - 42.0 42.2
3.3% -0.7% -6.2% -4.8% -3.5% - 3.3% 0.6%
Avg. Hourly Earnings in Manuf. 23.1 23.0 23.6 23.5 23.4 - 20.5 21.0
9.4% 9.4% 11.1% 10.5% 10.0% - 3.0% 2.4%
New Vehicle Registrations (SA, 000) 15.0 13.8 12.5 12.5 12.3 12.9 23.9 19.0
-34.8% -36.1% -44.0% -39.3% -37.6% -37.3% -1.2% -20.5%
Initial Unemployment Claims (SA, 000) 62.4 76.2 74.4 69.4 75.9 68.6 34.1 45.7
67.1% 89.5% 89.7% 74.2% 83.7% 65.1% -0.8% 34.1%
Personal Income (SAAR, $bil.) - - 276.4 - - - 265.7 277.1
- - 1.1% - - - 8.1% 4.3%
Median Home Price ($000) - - 253.5 - - - 306.4 283.4
- - -13.7% - - - 4.2% -7.5%
62
*Percentage Change is Year-over-Year

July 2009 Page 6
Key Revenue Variables
2008 2009
Sep 11 - Oct 11 - Nov. 11 - Dec. 11 - Jan 11 - Feb 11 - Mar 11 - Apr 11 - May 11 - Jun 11 -
Oct 10 Nov. 10 Dec. 10 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10*
Department of Revenue-Total 947,715 1,135,361 1,565,903 942,557 1,103,514 769,461 703,544 970,946 1,458,783 1,028,278
-10.8 -6.6 -2.5 -15.2 -11.7 -11.4 -24.4 -14.4 -6.6 -11.1
Revenue Act 896,300 1,022,351 858,807 781,369 1,059,501 735,791 663,249 873,625 740,002 791,144
-10.0 -5.3 -4.7 -14.9 -10.6 -10.1 -19.1 -14.0 -14.1 -11.1
Retail Sales Tax 609,775 675,162 579,492 527,414 685,642 485,503 440,984 554,314 484,574 498,705
-11.1 -6.0 -5.1 -14.8 -13.2 -8.7 -18.6 -15.2 -14.7 -18.6
Business and Occupation Tax 208,562 267,263 198,162 188,824 280,267 173,954 156,244 236,433 174,293 209,146
-4.9 -2.1 -4.9 -11.8 -5.1 -12.8 -17.0 -12.7 -16.6 1.0
Use Tax 42,199 41,442 40,891 28,556 45,661 31,088 32,608 35,321 37,784 33,569
-9.5 -14.9 4.7 -33.5 -8.7 -12.4 -17.1 -19.9 -8.4 2.3
Public Utility Tax 25,313 27,174 28,969 24,769 37,185 33,398 35,736 36,405 32,871 38,136
-5.2 4.9 14.1 -19.2 -1.6 -12.4 -5.4 5.9 0.5 33.4
Tobacco Products Tax 832 1,006 973 860 859 822 993 959 951 1,047
-33.0 25.4 13.7 3.6 15.7 -9.1 13.4 35.7 6.0 9.2
Penalties and Interest 9,618 10,305 10,319 10,945 9,887 11,025 -3,317 10,193 9,530 10,541
-39.9 -19.3 -37.0 2.4 -16.0 -13.2 -128.7 -18.1 2.5 33.1
Non-Revenue Act** 51,415 113,011 707,096 161,188 44,013 33,671 40,296 97,321 718,781 237,134
-23.8 -17.1 0.4 -16.9 -31.6 -32.2 -63.6 -17.8 2.5 -11.0
Liquor Sales/Liter 14,432 12,282 13,812 13,466 18,972 12,126 11,408 12,368 12,433 13,934
3.9 3.5 9.3 -0.8 4.4 7.9 -1.7 2.6 2.3 -0.5
Cigarette 4,470 4,815 3,487 3,527 4,153 3,498 4,050 3,581 4,237 3,229
2.2 0.8 -17.3 -5.9 -11.8 -7.6 0.4 -0.1 8.0 -26.4
Property (State School Levy) -15,964 9,434 611,756 111,753 -13,815 -16,785 4,201 38,567 663,407 154,043
24.3 2.9 5.4 -6.8 5.1 -16.1 -44.0 7.1 6.7 -12.9
Estate 6 132 72 -40 59 125 -65 -28 -42 15
58.5 -35.8 -69.8 -101.2 -108.1 204.4 -116.2 -125.0 189.1 -86.3
Real Estate Excise 44,268 36,963 37,142 26,829 19,323 29,415 19,815 24,682 24,600 35,293
-23.9 -40.7 -42.2 -48.7 -48.6 -19.1 -56.3 -46.1 -44.3 -23.6
Timber (state share) 0 0 1,508 0 0 1,001 0 0 668 0
NA NA -27.6 NA NA -35.9 NA NA -32.3 #DIV/0!
Other 4,203 49,385 39,318 5,652 15,321 4,290 887 18,151 13,478 30,620
7.1 3.0 -2.9 472.6 -13.6 -74.3 -97.9 -13.1 -24.3 22.5
Department of Licensing** 404 324 180 213 242 263 429 5,650 3,760 5,899
-13.1 4.5 -38.6 3.1 35.9 4.3 -6.3 15.2 -20.8 -9.2
Lottery** 0 0 11,092 0 0 0 0 0 0 0
NA NA NA NA NA NA NA NA NA NA
Total General Fund-State*** 948,119 1,135,685 1,577,175 942,770 1,103,757 769,724 703,973 976,597 1,462,543 1,034,177
-10.8 -6.6 -1.8 -15.2 -11.7 -11.3 -24.4 -14.3 -6.7 -11.6
*Revenue Act components: ERFC preliminary estimates

**Monthly Revenues (month of beginning of collection period)
*** Detail may not add due to rounding. The GFS total in this report includes only collections from larger state agencies: the DOR, Lottery Commission and DOL.
Note: Italic figures refer to Year-over-Year percent change.
63
June 2009 Page 7

Revenue Forecast Variance
64
Thousands of Dollars
Difference
Period/Source Estimate* Actual Amount Percent
June 11 - July 10, 2009
July 10, 2009 Collections Compared to the June 2009 Forecast
Department of Revenue-Total $1,029,915 $1,028,278 ($1,636) -0.2%

Revenue Act** (1) 783,759 791,144 7,385 0.9%
Non-Revenue Act(2) 246,156 237,134 (9,022) -3.7%
Liquor Sales/Liter 14,358 13,934 (424) -3.0%
Cigarette 3,306 3,229 (77) -2.3%
Property (State School Levy) 163,439 154,043 (9,396) -5.7%
Estate 60 15 (45) -75.0%
Real Estate Excise 30,889 35,293 4,405 14.3%
Timber (state share) 0 0 0 0.0%
Other 34,105 30,620 (3,485) -10.2%
Department of Licensing (2) 6,257 5,899 (358) -5.7%

Lottery (5) 0 0 0 0.0%
Total General Fund-State*** $1,036,172 $1,034,177 ($1,994) -0.2%
Cumulative Variance Since the June Forecast (June 11 - July 10, 2009)
Department of Revenue-Total $1,029,915 1,028,278 (1,636) -0.2%

Revenue Act** (3) $783,759 791,144 7,385 0.9%
Non-Revenue Act(4) $246,156 237,134 (9,022) -3.7%
Liquor Sales/Liter $14,358 13,934 (424) -3.0%
Cigarette $3,306 3,229 (77) -2.3%
Property (State School Levy) $163,439 154,043 (9,396) -5.7%
Estate $60 15 (45) -75.0%
Real Estate Excise $30,889 35,293 4,405 14.3%
Timber (state share) $0 0 0 0.0%
Other $34,105 30,620 (3,485) -10.2%
Department of Licensing (4) 6,257 5,777 (480) -7.7%

Lottery (5) 0 0 0 0.0%
Total General Fund-State*** $1,036,172 $1,034,055 ($2,117) -0.2%
1 Collections June 11, 2008 - July 10, 2009. Collections primarily reflect May 2009 activity of monthly taxpayers.
2 June 2009 collections.
3 Cumulative collections, estimates and variance since the June 2009 forecast; (June 11 - July 10, 2009)
and revisions to history.
4 Cumulative collections, estimates and variance since the June forecast (June 2009) and revisions to history.
5 Lottery transfers to the General Fund
* Based on the June 2009 economic and revenue forecast.
**The Revenue Act consists of the retail sales, B&O, use, public utility, tobacco products taxes, and penalty and interest.
*** Detail may not add due to rounding. The General Fund-State total in this report includes only collections from larger
state agencies: the Department of Revenue and the Department of Licensing.
June 2009 Page 8

BAINBRIDGE ISLAND RESIDENTIAL OVERVIEW
OVERVIEW OF RESIDENCES SOLD ON BAINBRIDGE ISLAND RESIDENCES FOR SALE
JANUARY 1 THROUGH JUNE 30, 2009 (AS OF 07/07/09)
SALE ON MONTHS CONTRACT STATUS % OF

PRICE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD MKT OF INV CTG PI PEND LISTINGS
$0-$400 3 2 1 4 5 1 16 30 30 0 4 3 23.33%
$401-$500 2 3 1 2 2 1 11 32 32 0 0 3 9.38%
$501-$600 3 2 2 2 3 2 14 31 16 1 1 0 6.45%
$601-$700 0 1 0 0 2 3 6 34 11 0 1 3 11.76%
$701-$800 0 0 3 2 1 1 7 36 36 1 1 0 5.56%
$801-$1M 2 1 2 1 2 2 10 40 20 0 1 4 12.50%
$1M-$1.5M 2 2 3 1 1 4 13 48 12 0 3 0 6.25%
$1.5M-$2M 0 0 1 1 2 1 5 17 17 1 0 1 11.76%
OVER $2M 0 0 1 0 0 0 1 18 NA 0 0 0 0.00%
TOTAL 12 11 14 13 18 15 83 286 19 3 11 14 9.79%
SEVEN YEAR COMPARISON YTD YEAR % Change YTD 2008 to 2009
2003 32 29 31 39 47 46 48 58 44 30 18 32 224 454 -3.49%

2004 12 25 38 48 33 55 50 50 51 43 26 37 211 468
2005 26 26 38 49 39 44 47 40 47 27 24 35 222 442
2006 26 18 21 29 27 49 26 42 38 27 25 21 170 349
2007 14 29 29 26 38 48 38 39 26 11 19 15 184 332
2008 9 8 17 19 15 18 18 26 17 12 16 13 86 188
2009 12 11 14 13 18 15 83 83
65
BAINBRIDGE ISLAND CONDOMINIUM OVERVIEW
OVERVIEW OF CONDOMINIUMS SOLD ON BAINBRIDGE ISLAND CONDOMINIUMS FOR SALE

$0-$400 1 0 0 3 3 5 12 61 12 0 4 1 8.20%
$401-$500 0 1 1 2 0 0 4 23 NA 0 0 2 8.70%
$501-$600 0 0 1 0 2 1 4 18 18 0 0 1 5.56%
$601-$700 0 0 2 1 0 0 3 2 NA 0 0 0 0.00%
$701-$800 0 0 0 0 0 0 0 5 NA 0 0 0 0.00%
$801-$1M 0 0 0 0 0 0 0 4 NA 0 0 0 0.00%
$1M-$1.5M 0 0 0 0 0 0 0 2 NA 0 0 0 0.00%
$1.5M-$2M 0 0 0 0 0 0 0 0 NA 0 0 0 NA
OVER $2M 0 0 0 0 0 0 0 0 NA 0 0 0 NA
TOTAL 1 1 4 6 5 6 23 115 19 0 4 4 6.96%
FOUR YEAR COMPARISON YTD YEAR % Change YTD 2008 to 2009
2006 2 1 8 7 14 38 6 16 14 17 20 12 70 155 -25.81%

2007 13 9 11 16 20 11 11 17 11 5 5 4 80 133
2008 3 7 4 4 5 8 3 3 3 2 1 1 31 44
2009 1 1 4 6 5 6 23 23
66
BAINBRIDGE ISLAND RESIDENTIAL AND CONDOMINIUM OVERVIEW
OVERVIEW OF RESIDENCES AND CONDOMINIUMS SOLD ON BAINBRIDGE ISLAND PROPERTIES FOR SALE

$0-$400 4 2 1 7 8 6 28 91 15 0 8 4 13.19%
$401-$500 2 4 2 4 2 1 15 55 55 0 0 5 9.09%
$501-$600 3 2 3 2 5 3 18 49 16 1 1 1 6.12%
$601-$700 0 1 2 1 2 3 9 36 12 0 1 3 11.11%
$701-$800 0 0 3 2 1 1 7 41 41 1 1 0 4.88%
$801-$1M 2 1 2 1 2 2 10 44 22 0 1 4 11.36%
$1M-$1.5M 2 2 3 1 1 4 13 50 13 0 3 0 6.00%
$1.5M-$2M 0 0 1 1 2 1 5 17 17 1 0 1 11.76%
OVER $2M 0 0 1 0 0 0 1 18 NA 0 0 0 0.00%
TOTAL 13 12 18 19 23 21 106 401 19 3 15 18 8.98%
2006 28 19 29 36 41 87 32 58 52 44 45 33 240 504 -7.83%

2007 27 38 40 42 58 59 49 56 37 16 24 19 264 465
2008 12 15 21 23 20 24 21 28 19 14 17 14 115 228
2009 13 12 18 19 23 21 106 106
67
BAINBRIDGE ISLAND RESIDENTIAL LAND OVERVIEW
OVERVIEW OF RESIDENTIAL LAND SOLD ON BAINBRIDGE ISLAND RESIDENTIAL LAND FOR SALE

PRICE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD MKT OF INV CTG PI/PF PEND LISTINGS
$0-$400 0 0 2 1 0 1 4 45 45 0 0 0 0.00%
$401-$500 0 0 0 0 0 0 0 11 NA 0 0 0 0.00%
$501-$600 0 0 0 0 0 0 0 2 NA 0 0 0 0.00%
$601-$700 0 0 0 0 0 0 0 3 NA 0 0 0 0.00%
$701-$800 0 0 0 0 0 0 0 4 NA 0 0 0 0.00%
$801-$1M 0 0 0 0 0 0 0 7 NA 0 0 0 0.00%
$1M-$1.5M 0 0 0 0 0 0 0 3 NA 0 0 0 0.00%
$1.5M-$2M 0 0 0 0 0 0 0 1 NA 0 0 0 0.00%
OVER $2M 1 0 0 0 0 0 1 5 NA 0 0 0 0.00%
TOTAL 1 0 2 1 0 1 5 81 81 0 0 0 0.00%
2006 7 6 4 1 3 3 6 3 4 4 4 5 24 50 -44.44%
2007 3 2 3 6 2 2 2 2 5 1 1 1 18 30
2008 0 1 4 2 0 2 0 0 1 2 1 1 9 14
2009 1 0 2 1 0 1 5 5
68
RESIDENTIAL SALES – BAINBRIDGE ISLAND
January 1 – June 30
2009 and 2008
Average Price Highest Price
Description Median Price Lowest Price Number of Sales Average Market Time
2009 2008 2009 2008 2009 2008 2009 2008
All Residential $769,409 $860,106 $6,275,000 $6,200,000 83 86 130 104

$617,000 $645,000 $170,000 $220,000
Waterfront $1,427,380 $1,751,500 $6,275,000 $6,200,000 15 16 149 58

$1,041,500 $1,300,000 $375,000 $650,000
Non Waterfront $624,268 $656,359 $1,500,000 $1,287,718 68 70 126 115

$545,000 $583,750 $170,000 $220,000
Water View $735,458 $784,960 $1,500,000 $1,235,000 13 11 55 102

(Non Waterfront) $559,000 $849,000 $450,000 $384,000
Mountain View $697,458 $647,125 $1,100,000 $895,000 13 4 85 236

(Non Waterfront) $640,000 $588,250 $290,000 $517,000
Data compiled from the Northwest Multiple Listing Service as of July 7, 2009.
Information is deemed accurate, but not guaranteed.
69
CONDOMINIUM SALES – BAINBRIDGE ISLAND
2009 and 2008
2009 2008 2009 2008 2009 2008 2009 2008
All Condominiums $403,367 $465,143 $610,000 $1,120,000 23 30 150 120

$370,000 $391,750 191,000 $266,000
Waterfront $367,500 $674,500 $520,000 $789,000 2 2 154 79

$367,500 $674,500 $215,000 $560,000
Non Waterfront $406,783 $450,189 $610,000 $1,120,000 21 28 150 123

$370,000 $382,000 $191,000 $266,000
Water View $479,242 $651,922 $610,000 $1,120,000 6 9 139 111

(Non Waterfront) $503,225 $554,900 $279,000 $299,900
Mountain View $419,667 $635,343 $610,000 $1,050,000 3 7 170 99

(Non Waterfront) $370,000 $554,900 $279,000 $300,000
70
RESIDENTIAL LAND SALES – BAINBRIDGE ISLAND
2009 and 2008
2009 2008 2009 2008 2009 2008 2009 2008
All Land $728,000 $225,436 $3,000,000 $425,000 5 9 305 90

$136,000 $202,645 $99,000 $130,000
Waterfront $000,000 $000,000 $000,000 $000,000 0 0 0 0

$000,000 $000,000 $000,000 $000,000
Non Waterfront $728,000 $225,436 $3,000,000 $425,000 5 9 305 90

$136,000 $202,645 $99,000 $130,000
Water View $115,000 $300,000 $115,000 $300,000 1 1 135 42

(Non Waterfront) $115,000 $300,000 $115,000 $300,000
Mountain View $115,000 $000,000 $115,000 $000,000 1 0 135 0

(Non Waterfront) $115,000 $000,000 $115,000 $000,000
71
RESIDENTIAL SALES – BAINBRIDGE ISLAND
2009 and 2008
2009 2008 2009 2008 2009 2008 2009 2008
All Residential $769,409 $860,106 $6,275,000 $6,200,000 83 86 130 104

$617,000 $645,000 $170,000 $220,000
Waterfront $1,427,380 $1,751,500 $6,275,000 $6,200,000 15 16 149 58

$1,041,500 $1,300,000 $375,000 $650,000
Non Waterfront $624,268 $656,359 $1,500,000 $1,287,718 68 70 126 115

$545,000 $583,750 $170,000 $220,000
Water View $735,458 $784,960 $1,500,000 $1,235,000 13 11 55 102

(Non Waterfront) $559,000 $849,000 $450,000 $384,000
Mountain View $697,458 $647,125 $1,100,000 $895,000 13 4 85 236

(Non Waterfront) $640,000 $588,250 $290,000 $517,000
72
City of Bainbridge Island 73
DEPARTMENT OF FINANCE AND
ADMINISTRATIVE SERVICES
MEMORANDUM
TO: City Manager, Mark Dombroski
Director Finance & Administration, Elray Konkel
City Council Members
FROM: Cost Accountant, Emily Boberg Courts
DATE: July 28, 2009
RE: July Cash Flow
The attached charts and supporting schedules provide an overview of the anticipated
unrestricted tax-supported cash position1 of the City as of July 2009. The Cash Flow schedule is
not a formal financial statement; rather, it is a management tool used to track and forecast cash
inflows and outflows. For ease of reading, the Cash Flow format is generally comparable to that
of the monthly budget and financial statement reporting. Some differences as compared to the
financial statement presentation are:
The tax-supported Cash Flows present restricted, trust and agency fund details.
The activity in these funds is adjusted out below the line, because those funds
are not available for general use. Accordingly, we continue to report a net $0
available for these funds.
The tax-supported Cash Flows incorporate the Building and Development
Services (B&DS) fund; although the B&DS fund is reported as an enterprise fund
in the financial statements, it is subsidized by the general fund.
Because of the timing difference, Cash Flow outflows will not match financial
statement expenses; financial statements are presented on a modified accrual
basis whereby expenses are reported as incurred, but Cash Flow outflows are
based on expenditures as paid.
Because Cash Flow reports all inflows and outflows of cash, financial statement
revenues will not match casKIORZLQIORZVLQFDVHVRI³QRQ-revenue´ inflows, such
as receipt of loan proceeds. (See Attachment A, page 2.)
Unless otherwise noted, all further references to cash and Cash Flow within this document refer
to unrestricted tax-supported cash items as described above.
MONTHLY DESCRIPTION
The July Cash Flow began with the June Cash Flow and incorporated known June activity as
well as corrected activity and adjusted forecasts where appropriate. Values reported for January
through June are based on actual activity, and July through December values are forecast.
1
As indicated by the description, unrestricted tax-supported cash flow does not include Utility-related cash
flow.
280 MADISON AVENUE NORTH BAINBRIDGE ISLAND, WA 98110-1812
PHONE: (206) 780-8616 FAX: (206) 780-8599 EMAIL: ebobergcourts@ci.bainbridge-isl.wa.us
www.ci.bainbridge-isl.wa.us
74
YEAR-END CASH
Projected year-end Cash (June Cash Flow): $1,293,211
Projected year-end Cash (July Cash Flow): $1,198,723
Net Increase (Decrease): ($94,487)
As of the June cash flow, year-end cash flow was anticipated to be $1,293,211. In July, this
amount was decreased by the following activity2:
Operating Activities ± net decrease to year-end cash of ($120,000):

June actuals ($10,000) unfavorable compared to projection;
($130,000) net decrease in projected inflows;
$30,000 net decrease in projected outflows (including below the line);
($10,000) correction to May reporting related to Restricted Funds.
Capital Activities ± net increase to year-end cash of $30,000:
June actuals ($200,000) unfavorable compared to projection;
($1,170,000) decrease in Capital Construction Fund inflow projections; and,
$1,400,000 net decrease in projected outflows.
7KH SULRU PRQWK¶V FDVK IORZ SURYLGHV DGGLWLRQDO LQIRUPDWLRQ WKDW LV HVVHQWLDO to a full
understanding of current month changes.
CRITICAL ASSUMPTIONS
The July Cash Flow assumes:
An inflow of $850,000 in 2009 for sales of excess land. Should any of these sales not
occur, ending cash balance will not meet Cash Flow expectations.
o Projected year-end cash if land sales do not occur: $348,723
Reliability of revenue assumptions.
o 98% of Property Tax levied will be received in 2009.
PLANNED NEXT STEPS

Create a Utility Cash Flow model, following the format of the tax-supported Cash Flow
model. Estimated completion: August 2009.
Integrate annual cash flow information in the 6-year Financial Capacity Analysis.
Use cash flow model data to help build the 2010 budget.
Attachments
Attached are the following supporting charts and schedules:
City of Bainbridge Island 2009 June Cash Flow Plan ± Tax Supported
City of Bainbridge Island 2009 July Cash Flow Plan ± Tax Supported
City of Bainbridge Island 2009 Cash Flow Difference Report ± Tax Supported: July Cash
Flow Less June Cash Flow
Attachment A: Discussion of Month Over Month Variances
Chart 1: COBI 2009 Cash Flow Monitoring ± Tax Supported
Chart 2: COBI 2009 Cash Balance Monitoring ± Tax Supported
2
All figures rounded to the nearest ten thousand.
Page 2
7/30/2009 6:01 PM
City of Bainbridge Island 2009 Cash Flow Plan - Tax Supported
Actual Actual Actual Actual Actual

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
Beginning Cash Balance 1,246,281 410,809 789,225 1,294,210 2,666,320 3,055,699 2,352,647 1,790,580 1,878,157 1,361,598 1,744,845 2,586,170
Inflows - Jun Cash Flow

General Fund - Taxes 741,547 991,703 741,290 2,761,334 1,278,129 419,929 528,030 790,958 540,252 1,946,617 1,861,920 530,578 13,132,287
General Fund - Fees & Service Charges 175,321 118,160 117,448 168,455 104,652 102,878 161,434 94,559 97,503 141,814 109,846 96,957 1,489,028
General Fund - Intergovernmental Revenue 34,392 7,925 56,822 39,241 19,068 38,540 25,163 17,058 35,207 29,293 15,196 44,296 362,201
General Fund - Fines & Forfeits 15,095 16,510 15,877 15,729 16,274 25,857 15,167 16,301 19,016 21,960 20,466 18,437 216,689
General Fund - Miscellaneous 2,952 5,090 3,744 2,348 7,707 4,779 -184 4,804 6,013 3,890 5,472 7,559 54,175
General Fund - Investment Revenue 1,163 1,424 -311 3,199 881 3,631 2,951 3,631 3,631 3,631 3,631 3,631 31,095
General Fund - Other External Sources 0 20,795 1,000 0 8,000 0 0 0 0 0 0 850,000 879,795
Streets Fund 175,408 63,873 528,329 172,337 73,730 67,458 176,782 96,958 80,271 175,046 101,522 86,879 1,798,592
Real Estate Excise Tax Fund 54,374 45,043 109,880 70,738 66,546 83,449 75,224 119,630 104,620 57,417 99,713 65,597 952,231
Civic Improvement Fund (Restricted) 6,460 8,409 5,497 3,234 5,735 0 0 0 0 0 0 0 29,335
Affordable Housing Fund (Restricted) 1,320 1,470 725 705 548 0 0 0 0 0 0 0 4,768
GO Bond Funds 4,047 10,076 15,880 189,581 66,857 3,752 1,278 2,116 9,378 148,600 69,204 2,236 523,005
LID Bond Funds 0 0 1,340 5,344 670 0 0 0 0 0 0 0 7,354
Capital Construction Fund 295 146,251 100,531 66,428 0 261,301 102,001 1,059,620 98,822 431,139 233,348 79,610 2,579,346
LID Capital Construction Fund 0 0 0 0 0 0 0 0 0 0 0 0 0
Building & Development Services Fund 46,726 69,139 82,296 83,815 66,720 73,295 75,145 67,709 52,801 69,794 61,100 26,192 774,731
Subtotal Inflows - Jun Cash Flow 2,505,381 1,916,678 2,569,573 4,876,698 4,381,837 4,140,568 3,515,637 4,063,925 2,925,672 4,390,798 4,326,264 4,398,142 22,834,633
Exclusion of Restricted Funds -7,780 -9,879 -6,222 -3,939 -6,283 0 0 0 0 0 0 0 -34,103
Interfund Loan 0 600,000 0 0 0 0 0 0 0 0 0 0 600,000
Adjustments to Inflow 0 0 -14,425 165,605 0 0 0 0 0 0 0 41,842 193,021
Total Inflows - Jun Cash Flow 2,497,601 2,506,799 2,548,926 5,038,364 4,375,554 4,140,568 3,515,637 4,063,925 2,925,672 4,390,798 4,326,264 4,439,983 23,593,551
Outflows - Jun Cash Flow

Salary 734,414 681,316 619,097 602,828 600,077 528,313 526,084 541,786 530,204 532,704 536,786 527,445 6,961,055
Benefits 247,777 236,194 210,019 223,821 209,692 179,634 213,018 174,903 174,317 218,774 174,903 175,462 2,438,514
Supplies 9,778 15,241 4,449 8,246 23,802 33,551 51,811 46,043 46,473 46,973 44,923 45,453 376,741
Professional Services 4,950 38,425 96,400 267,457 111,737 127,473 235,956 291,568 180,126 193,186 184,171 155,427 1,886,875
Communications 5,227 160,489 9,029 57,530 6,943 7,534 60,787 10,279 10,279 61,273 10,765 10,765 410,900
Travel 246 666 -550 635 1,031 409 1,453 1,353 1,353 1,503 1,357 1,303 10,759
Training 733 1,830 3,301 2,238 2,668 1,570 7,058 8,835 7,027 8,335 6,627 6,892 57,114
Advertising 0 1,555 1,140 1,218 1,655 2,454 1,840 1,840 2,365 1,940 2,140 2,040 20,185
Operating Leases 10,049 26,905 188,332 85,360 83,280 84,482 82,870 82,902 85,030 84,120 82,780 83,030 979,140
Utilities 18,215 2,777 75,884 111,330 39,395 48,025 48,025 48,025 48,025 48,025 48,025 48,025 583,776
Repair & Maintenance 19,251 25,584 12,997 49,001 14,062 57,238 64,123 93,818 44,659 44,132 64,136 52,709 541,710
All Other Miscellaneous 4,609 3,035 19,714 2,070 1,292 10,995 11,142 505,094 12,181 10,714 10,841 12,516 604,204
Contingency 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Services & Charges 500,993 0 0 330 0 1,088 1,088 1,088 1,088 1,088 1,088 1,088 508,939
Intergovernmental 18,258 109,707 17,963 21,897 72,686 107,166 30,378 88,278 109,347 36,278 33,498 99,907 745,363
Capital Equipment 0 47 0 0 432 0 0 0 0 0 0 0 479
Capital Projects 0 0 0 64,161 87,223 244,118 321,901 285,302 273,293 564,506 536,165 607,893 2,984,562
Debt Service 99,422 9,852 47,103 145,454 10,413 351,547 57,578 0 36,672 790,006 0 1,207,779 2,755,826
Other non-operating 1,233 1,369 8,510 2,772 3,939 2,323 9,947 4,656 1,635 2,397 1,890 119,395 160,066
Subtotal Outflows - Jun Cash Flow 1,675,155 1,314,992 1,313,389 1,646,348 1,270,327 1,787,921 1,725,057 2,185,768 1,564,075 2,645,953 1,740,094 3,157,128 22,026,208
Exclusion of Restricted Funds -5,769 -10,728 -16,497
Outflows - 2008 Expenses paid in 2009 411,636 402,582 -58,673 0 0 0 0 0 0 0 0 0 755,546
Interfund Loan Repayment 0 0 0 603,346 0 0 0 0 0 0 0 0 603,346
Adjustments to Outflow 0 0 0 128,119 60,255 0 0 0 0 0 0 -10,356 178,019
0
Total Outflows - Jun Cash Flow 2,086,792 1,717,574 1,254,716 2,372,044 1,319,855 1,787,921 1,725,057 2,185,768 1,564,075 2,645,953 1,740,094 3,146,773 23,546,622
Ending Cash Balance - Jun Cash Flow 410,809 789,225 1,294,210 2,666,320 3,055,699 2,352,647 1,790,580 1,878,157 1,361,598 1,744,845 2,586,170 1,293,211
75
7July 2009 Cash Flow Plan - Tax

Cash Flow Model Page 1 of 3
7/30/2009 6:01 PM
City of Bainbridge Island 2009 Cash Flow Reduction Plan - Tax Supported
Actual Actual Actual Actual Actual Actual

Beginning Cash Balance $1,246,281 $410,809 $789,225 $1,294,210 $2,666,320 $3,044,971 $2,130,502 $1,766,093 $1,535,695 $1,211,061 $1,531,158 $2,027,517
Inflows - Jul Cash Flow Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
General Fund - Taxes 741,547 991,703 741,290 2,761,334 1,278,129 484,304 528,030 790,958 540,252 1,846,617 1,800,054 530,578 13,034,796
General Fund - Fees & Service Charges 175,321 118,160 117,448 168,455 104,652 92,010 161,434 94,559 97,503 141,814 109,846 96,957 1,478,160
General Fund - Intergovernmental Revenue 34,392 7,925 56,822 39,241 19,068 40,917 25,163 17,058 35,207 29,293 15,196 44,296 364,578
General Fund - Fines & Forfeits 15,095 16,510 15,877 15,729 16,274 10,411 15,167 16,301 19,016 21,960 20,466 18,437 201,243
General Fund - Miscellaneous 2,952 5,090 3,744 2,348 7,707 15,188 -184 4,804 6,013 3,890 5,472 7,559 64,584
General Fund - Investment Revenue 1,163 1,424 -311 3,199 881 7,183 2,951 3,631 3,631 3,631 3,631 3,631 34,647
General Fund - Other External Sources 0 20,795 1,000 0 8,000 3,700 0 0 0 0 0 850,000 883,495
Streets Fund 175,408 63,873 528,329 172,337 73,730 78,546 176,782 96,958 80,271 175,046 101,522 91,061 1,813,862
Real Estate Excise Tax Fund 54,374 45,043 109,880 70,738 66,546 89,121 75,224 119,630 104,620 57,417 99,713 65,597 957,903
Civic Improvement Fund 6,460 8,409 5,497 3,234 5,735 4,651 7,785 7,785 7,785 7,785 7,785 7,785 80,693
Affordable Housing Fund 1,320 6,681 5,228 12,951 3,554 9,541 700 800 800 780 800 893 44,048
GO Bond Funds 4,047 10,076 15,880 189,581 66,857 3,680 1,278 2,116 9,378 165,000 79,441 2,236 549,570
LID Bond Funds 0 0 1,340 5,344 670 335 0 0 0 0 0 0 7,689
Capital Construction Fund 295 146,251 100,531 66,428 0 131,792 238,232 159,209 111,014 83,803 101,866 143,680 1,283,101
Building & Development Services Fund 46,726 69,139 82,296 83,815 66,720 75,258 75,145 67,709 52,801 69,794 61,100 26,192 776,695
Subtotal Inflows - Jul Cash Flow 2,505,381 1,921,890 2,574,076 4,888,945 4,384,843 4,091,608 3,438,208 3,147,611 2,603,987 3,817,890 3,938,050 3,916,419 21,575,064
Exclusion of Restricted Funds -7,780 -15,090 -10,725 -16,185 -9,289 -14,192 -8,485 -8,585 -8,585 -8,565 -8,585 -8,678 -124,741
Interfund Loan 0 600,000 0 0 0 0 0 0 0 0 0 0 600,000
Adjustments to Inflow 0 0 ($14,425) 165,605 0 0 0 0 0 0 0 41,842 193,021
Total Inflows - Jul Cash Flow 2,497,601 2,506,799 2,548,926 5,038,364 4,375,554 4,077,416 3,429,723 3,139,027 2,595,403 3,809,326 3,929,465 3,949,583 22,243,344
Outflows - Jul Cash Flow

Salary 734,414 681,316 619,097 602,828 600,077 529,959 524,834 541,133 529,551 532,051 537,667 530,457 6,963,385
Benefits 247,777 236,194 210,019 223,821 209,692 185,559 175,251 210,590 174,349 174,349 233,727 176,868 2,458,197
Supplies 9,778 15,241 4,449 8,246 23,802 14,733 49,880 46,328 46,758 48,258 46,208 46,738 360,417
Professional Services 4,950 38,425 96,400 267,457 122,465 229,184 210,137 274,366 162,924 175,984 167,823 139,079 1,889,193
Communications 5,227 160,489 9,029 57,530 6,943 11,478 58,677 10,548 10,548 61,542 11,034 11,034 414,079
Travel 246 666 -550 635 1,031 582 1,343 1,373 1,473 3,023 1,377 1,423 12,622
Training 733 1,830 3,301 2,238 2,668 2,280 5,628 8,835 8,027 8,335 6,627 6,892 57,394
Advertising 0 1,555 1,140 1,218 1,655 2,450 887 7,840 2,365 1,940 2,140 2,040 25,229
Operating Leases 10,049 26,905 188,332 85,360 83,280 79,528 83,114 85,906 88,034 87,124 85,784 86,034 989,451
Utilities 18,215 2,777 75,884 111,330 39,395 38,623 48,025 48,025 48,025 48,025 48,025 48,025 574,374
Repair & Maintenance 19,251 25,584 12,997 49,001 14,062 26,045 79,764 93,818 44,659 44,132 64,136 52,709 526,159
All Other Miscellaneous 4,609 3,035 19,714 2,070 1,292 3,954 9,854 10,094 12,181 10,714 505,841 12,516 595,875
Contingency 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Services & Charges 500,993 0 0 330 0 0 0 1,088 1,088 1,088 1,088 1,088 506,763
Intergovernmental 18,258 109,707 17,963 21,897 72,686 104,662 40,785 88,278 109,347 36,278 33,498 99,907 753,266
Capital Projects 0 0 0 64,161 87,223 199,619 355,651 170,456 106,705 252,923 155,083 150,465 1,542,285
Debt Service 99,422 9,852 47,103 145,454 10,413 426,793 9,852 0 36,672 790,006 0 1,251,228 2,826,794
Other non-operating 1,233 1,369 8,510 2,772 3,939 9,859 9,947 4,656 1,635 2,397 1,890 119,395 167,602
Subtotal Outflows - Jul Cash Flow 1,675,155 1,314,992 1,313,389 1,646,348 1,281,055 1,865,336 1,663,630 1,603,332 1,384,341 2,278,168 1,901,948 2,735,897 20,663,592
Exclusion of Restricted Funds -5,769 -10,728 -30,556 -47,053
Outflows - 2008 Expenses paid in 2009 411,636 402,582 -58,673 0 0 0 0 0 0 0 0 0 755,546
Interfund Loan Repayment 0 0 0 603,346 0 0 0 0 0 0 0 0 603,346
Adjustments to Outflow 0 0 0 128,119 60,255 112,134 0 0 0 0 0 14,963 315,471
Total Outflows - Jul Cash Flow 2,086,792 1,717,574 1,254,716 2,372,044 1,330,583 1,946,914 1,663,630 1,603,332 1,384,341 2,278,168 1,901,948 2,750,860 22,290,902
Ending Cash Balance - Jul Cash Flow 410,809 789,225 1,294,210 2,666,320 3,044,971 2,130,502 1,766,093 1,535,695 1,211,061 1,531,158 2,027,517 1,198,723
76

7/30/2009 6:01 PM
City of Bainbridge Island 2009 Cash Flow Difference Report - Tax Supported
Jul Cash Flow Less Jun Cash Flow
Actual Actual Actual Actual Actual Actual
Beginning Cash Balance 0 0 0 0 0 (10,728) (222,145) (24,487) (342,462) (150,536) (213,687) (558,652)
Inflows
General Fund - Taxes 0 0 0 0 0 64,375 0 0 0 (100,000) (61,866) 0 (97,491)
General Fund - Fees & Service Charges 0 0 0 0 0 (10,868) 0 0 0 0 0 0 (10,868)
General Fund - Intergovernmental Revenue 0 0 0 0 0 2,377 0 0 0 0 0 0 2,377
General Fund - Fines & Forfeits 0 0 0 0 0 (15,446) 0 0 0 0 0 0 (15,446)
General Fund - Miscellaneous 0 0 0 0 0 10,409 0 0 0 0 0 0 10,409
General Fund - Investment Revenue 0 0 0 0 0 3,552 0 0 0 0 0 0 3,552
General Fund - Other External Sources 0 0 0 0 0 3,700 0 0 0 0 0 0 3,700
Streets Fund 0 0 0 0 0 11,088 0 0 0 0 0 4,182 15,270
Real Estate Excise Tax Fund 0 0 0 0 0 5,672 0 0 0 0 0 0 5,672
Civic Improvement Fund 0 0 0 0 0 4,651 7,785 7,785 7,785 7,785 7,785 7,785 51,358
* Affordable Housing Fund 0 5,211 4,503 12,246 3,006 9,541 700 800 800 780 800 893 39,280
GO Bond Funds 0 0 0 0 0 (72) 0 0 0 16,400 10,237 0 26,565
LID Bond Funds 0 0 0 0 0 335 0 0 0 0 0 0 335
Capital Construction Fund 0 0 0 0 0 (129,509) 136,231 (900,411) 12,192 (347,336) (131,482) 64,070 (1,296,245)
Building & Development Services Fund 0 0 0 0 0 1,963 0 0 0 0 0 0 1,963
Subtotal Inflows 0 5,211 4,503 12,246 3,006 (48,960) (77,429) (916,314) (321,685) (572,908) (388,214) (481,723) (1,259,569)
Exclusion of Restricted Funds 0 (5,211) (4,503) (12,246) (3,006) (14,192) (8,485) (8,585) (8,585) (8,565) (8,585) (8,678) (90,638)
Interfund Loan 0 0 0 0 0 0 0 0 0 0 0 0 0
Adjustments to Inflows 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Inflows 0 0 0 0 0 (63,152) (85,914) (924,898) (330,270) (581,472) (396,798) (490,400) (1,350,207)
Outflows
Salary 0 0 0 0 0 1,646 (1,250) (653) (653) (653) 881 3,012 2,330
Benefits 0 0 0 0 0 5,925 (37,766) 35,687 32 (44,425) 58,825 1,406 19,683
Supplies 0 0 0 0 0 (18,818) (1,930) 285 285 1,285 1,285 1,285 (16,323)
Ώ Professional Services 0 0 0 0 10,728 101,711 (25,819) (17,202) (17,202) (17,202) (16,348) (16,348) 2,318
Communications 0 0 0 0 0 3,944 (2,110) 269 269 269 269 269 3,180
Travel 0 0 0 0 0 173 (111) 20 120 1,520 20 120 1,862
Training 0 0 0 0 0 710 (1,430) 0 1,000 0 0 0 280
Advertising 0 0 0 0 0 (4) (953) 6,000 0 0 0 0 5,044
Operating Leases 0 0 0 0 0 (4,953) 244 3,004 3,004 3,004 3,004 3,004 10,311
Utilities 0 0 0 0 0 (9,402) 0 0 0 0 0 0 (9,402)
Repair & Maintenance 0 0 0 0 0 (31,193) 15,642 0 0 0 0 0 (15,552)
All Other Miscellaneous 0 0 0 0 0 (7,041) (1,287) (495,000) 0 0 495,000 0 (8,329)
Contingency 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Services & Charges 0 0 0 0 0 (1,088) (1,088) 0 0 0 0 0 (2,176)
Intergovernmental 0 0 0 0 0 (2,504) 10,407 0 0 0 0 0 7,903
Capital Projects 0 0 0 0 0 (44,499) 33,750 (114,847) (166,588) (311,583) (381,082) (457,428) (1,442,277)
Debt Service 0 0 0 0 0 75,245 (47,726) 0 0 0 0 43,449 70,968
Other non-operating 0 0 0 0 0 7,536 0 0 0 0 0 0 7,536
Subtotal Outflows 0 0 0 0 10,728 77,415 (61,427) (582,436) (179,733) (367,785) 161,854 (421,231) (1,362,616)
Exclusion of Restricted Funds 0 0 0 (30,556) 0 0 0 0 0 0 (30,556)
Outflows - 2008 Expenses paid in 2009 0 0 0 0 0 0 0 0 0 0 0 0 0
Interfund Loan Repayment 0 0 0 0 0 0 0 0 0 0 0 0 0
Adjustments to Outflow 0 0 0 0 0 112,134 0 0 0 0 0 25,318 137,452
Total Outflows 0 0 0 0 10,728 158,993 (61,427) (582,436) (179,733) (367,785) 161,854 (395,913) (1,255,720)
Ending Cash Balance 0 0 0 0 (10,728) (222,145) (24,487) (342,462) (150,536) (213,687) (558,652) (94,487)
* Adjustments to prior months reflect non-revenue inflow activity (in this case, transfers in) in restricted funds not previously reported on cash flow but present in financial statements. Net $0 effect on ending cash balance.
Ώ May Outflows were corrected to include Restricted Funds outflows in Professional Services. Below the line removal was appropriately included in June's reporting of May actuals.
77


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CITY OF BAINBRIDGE ISLAND

SPECIAL CITY COUNCIL MEETING

Tuesday August 4, 2009

Public Comment 10 min (Accept)

Monthly Financial Report for June 2009 30 min (Discuss)*

Mid-Year Report Q & A 30 min (Discuss)

Cost Allocation Update 10 min (Discuss)

Utility Management by a Non-Profit (comparison study) 10 min (Discuss)

Future Agenda Items 5 min (Discuss)

CITY OF BAINBRIDGE ISLAND

By: Stoknes. Second: Peters

STANDING COMMITTEE INFORMATION

Z:\Finance Personnel Files\2009\8-4-09\agenda_bill_ww_lid.doc

1. AGREEMENT AND PETITION

2. PROPERTY OWNERS’ PETITION

The Winslow Way Reconstruction Project is to provide a complete replacement

City: City of Bainbridge Island

Owners SEE ATTACHED APPENDIX 1 – 21

5.3 Choice of Law/Venue. This Agreement shall be governed and construed in

6. EXECUTION AND EFFECTIVE DATE

Dated this ____ day of _________________________, 2009.

CITY OF BAINBRIDGE ISLAND

Dated this ____ day of _________________________, 2009.

(Legibly Print or Stamp Name of Notary)

Notary public in and for the State of Washington,

A RESOLUTION of the City Council of the City of Bainbridge

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAINBRIDGE

FORM 9 (Rev. 12/30/93)

Section 6. If any section, subsection, paragraph, sentence, clause or phrase of this

PASSED by the City Council this 26th day of August, 2009.

APPROVED by the Mayor this _____ day of #________________, 19___#.

FORM 9 (Rev. 12/30/93)

FORM 9 (Rev. 12/30/93)

DATED this ______ day of #________________, 20___#.

FORM 9 (Rev. 12/30/93)

Legal Description: AUDITOR’S FILE NO. 262502-3-160-2005

Dated this ______ day of ________________________, 2009.

Notary public in and for the State of Washington, residing at:

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO. 262502-3-054-2004

Dated this ______ day of ________________________, 2009.

Notary public in and for the State of Washington, residing at:

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO. 262502-3-146-2004

Approval: STATE OF WASHINGTON ss.

Notary public in and for the State of Washington, residing at:

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO. 262502-3-056-2002

Dated this ______ day of ________________________, 2009.

Notary public in and for the State of Washington, residing at:

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO’s.: 262502-3-058-2000, 262502-3-059-2009, 262502-3-060-2006

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO. 262502-3-062-2004

_______________________________________________ __________________________________, a Washington____________________,

Dated this ______ day of ________________________, 2009.

Notary public in and for the State of Washington, residing at:

My Appointment expires: ____________________________

Legal Description: AUDITOR’S FILE NO. 262502-3-063-2003

My Appointment expires: ____________________________

Legal Descriptions for: 262502-3-069-2007, 262502-3-072-2002, 262502-3-024-2001

Legal Description: AUDITOR’S FILE NO. 262502-3-073-2001

Approval: STATE OF WASHINGTON ss.

Dated this ______ day of ________________________, 2009.

Dated this day of _____________________, 2009.

Dated this day of _____________________, 2009.

APPROVED by the Mayor this _ day of #__________, 19_#.

DATED this day of #________, 20_#.

Dated this day of __________________, 2009.

Dated this day of __________________, 2009.

Dated this day of __________________, 2009.

_________________________ , a Washington,

Dated this day of __________________, 2009.

Dated this day of __________________, 2009.

Dated this day of __________________, 2009.

_________________ of the _, a

Dated this day of __________________, 2009.

___________________ Washington_, to be the free and voluntary act of such

Dated this day of __________________, 2009.

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