HomeMy WebLinkAbout1992 CAFR 9ComP`4en�ive nnuaf inanciaCPeport
(Dor fhe year ended-(December 31, 1992)
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200 VIA-Avenue SouM - Penton, Ul/ai4ingdon 98055
(206)235-2558
City of Renton 1992 CAFR
Introductory •
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The City of Renton, Washington
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Comprehensive Annual Financial Report
For the Year Ended December 31, 1992
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Men Wang
Acting Finance Director
City of Renton 1992 CAFR '
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS ,
ITEM PAGE
INTRODUCTORY SECTION '
CityOrganization Structure & Reporting Relations......................................................................................................................ui
Letterof Transmittal...............................................................................................................................................................iv
FINANCIAL SECTION ,
AUDITOR'S REPORT...............................................................................................................................................................2
COMBINED FINANCIAL STATEMENTS - OVERVIEW (General Purpose Financial Statements) '
Combined Balance Sheet- All Fund Types and Account Groups................................................................................................4
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances All Governmental Fund Types..............................6
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual.............................................7
Combined Statement of Revenues, Expenses, and Changes in Fund Equity Proprietary and Similar Trust Funds............................ 1 1 '
Combined Statement of Cash Flows Proprietary and Similar Trust Funds.................................................................................. 12
Notes to Financial Statements
Note1: Significant Accounting Policies............................................................................................................................ 18
ReportingEntity.............................................................................................................................................. 18
Basis of Presentation- Fund Accounting............................................................................................................ 18 '
Basisof Accounting........................................................................................................................................ 18
Budgets and Budgetary Accounting .................................................................................................................. 19
Assets, Liabilities and Fund Equity.................................................................................................................... 19
Cashand Cash Equivalents......................................................................................................................... 19 '
Investments.............................................................................................................................................. 19
Inventories............................................................................................................................................... 19
PropertyTaxes Receivable ......................................................................................................................... 19
AssessmentsReceivable............................................................................................................................20 '
Fixed Assets and Depreciation....................................................................................................................20
Accumulated Unpaid Vacation & Sick Pay....................................................................................................20
Fund Equity- Reserves& Designations .......................................................................................................20
Direct Charges/Credits to Enterprise Funds Retained Earnings.........................................................................20 '
RiskManagement and Risk Retention..........................................................................................................20
Note 2: Stewardship, Compliance and Accountability........................................................................................................21
Note3: Cash & Investments...........................................................................................................................................21
Note4: Deferred Compensation......................................................................................................................................21
Note5: Receivables and Payables...................................................................................................................................21
Note6: Operating and Residual Equity Transfers...............................................................................................................23
Note7: Fixed Assets.....................................................................................................................................................23
Note8: Prepaid Items....................................................................................................................................................24 '
Note9: Joint Ventures..................................................................................................................................................24
Note 10: Pension Plan& Other Postemployment Benefits ...................................................................................................25
PERSand LEOFF.............................................................................................................................................25
Firemen's Pension...........................................................................................................................................26
Note11: Construction Commitments................................................................................................................................27
Note12: Long-Term Debt...............................................................................................................................................27
Note 13: Deferred Charges in Proprietary Funds ................................................................................................................30
Note 14: Reservations and Designations of Fund Equity.............................................. ................30
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Note 15: Segment Information for Enterprise Funds...........................................................................................................30 '
Note16: Litigation.........................................................................................................................................................31
Note17: Risk Management.............................................................................................................................................31
Note18: Prior Period Adjustments...................................................................................................................................32
Note19: Subsequent Events...........................................................................................................................................32
COMBINING FINANCIAL STATEMENTS AND SCHEDULES OF INDIVIDUAL FUNDS AND ACCOUNT GROUPS:
General Fund: '
ComparativeBalance Sheet..............................................................................................................................................34
Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................................35
Statement of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual.........................................................36
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City of Renton 1992 CAFR
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Ir COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS-CONTINUED
ITEM PAGE
Special Revenue Funds:
CombiningBalance Sheet.................................................................................................................................................38
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances...................................................................40
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................42
Debt Service Funds:
CombiningBalance Sheet.................................................................................................................................................50
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances...................................................................52
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................54
Capital Project Funds:
CombiningBalance Sheet.................................................................................................................................................62
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................64
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................66
Enterprise Funds:
CombiningBalance Sheet.................................................................................................................................................72
Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................74
il■I Combining Statement of Cash Flows.................................................................................................................................76
Internal Service Funds:
CombiningBalance Sheet.................................................................................................................................................82
Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................83
CombiningStatement of Cash Flows.................................................................................................................................84
Fiduciary Funds:
CombiningBalance Sheet..................................................................................................................................................86
Firemen's Pension Trust Fund Comparative Statement of Revenues, Expenses, and Changes in Fund Equity..............................88
Firemen's Pension Trust Fund Comparative Statement of Cash Flows ...................................................................................89
Combining Statement of Changes in Assets and Liabilities All Agency Funds .........................................................................90
General Fixed Asset Account Group:
ComparativeBalance Sheet..............................................................................................................................................92
Schedule of General Fixed Assets by Source.......................................................................................................................93
Schedule of General Fixed Assets by Function and Activity..................................................................................................94
■III Schedule of Changes in General Fixed Assets by Function and Activity.................................................................................94
General Long-Term Debt Account Group:
ComparativeBalance Sheet..............................................................................................................................................96
STATISTICAL SECTION
Table 1: General Government Revenues&Expenditures- Last Ten Fiscal Years......................................................................98
Table 2: Assessed Value, Property Tax Rates, Levies and Collections- Last Ten Fiscal Years................................................. 100
Table 3: Ratio of Net General Obligation Debt to Assessed Value &Net Bonded Debt per Capita-Last Ten Fiscal Years........... 102
Table 4: Special Assessment Billings and Collections- Last Ten Fiscal Years........................................................................ 103
Table 5: Computation of Legal Debt Margin- December 31, 1992....................................................................................... 104
Table 6: Computation of Direct and Overlapping Debt- December 31, 1992......................................................................... 105
Table 7: General Obligation Bonds/Expenditure Ratio- Last Ten Fiscal Years ........................................................................ 106
Table 8: Revenue Bond Coverage-Last Ten Fiscal Years................................................................................................... 107
Table9: Retail Sales By Source....................................................................................................................................... 108
Table 10: Largest Taxpayers and Principal Employers.......................................................................................................... 109
Table 11: Construction and Bank Deposits- Last Ten Fiscal Years........................................................................................ 110
Table 12: Demographic Statistics- Last Ten Fiscal Years.................................................................................................... 111
Table 13: Miscellaneous Statistics.................................................................................................................................... 112
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City of Renton 1992 CAFR '
Corporate Organization & Reporting Relationships
RENTON'S MISSION STATEMENT '
RENTON The City of Renton, in partnership with residents,
CITIZENS business, and government, is dedicated to: '
Providing a healthy atmosphere in which to live&raise families:
Encourage responsible growth and economic vitality;
Create a positive work environment;
Resulting in a quality community where people choose '
Councilmembers: to live, work and play.
Kathy Keolker-Wheeler,
President LMayor
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Bob Edwards
Nancy Mathews
Toni Nelson
Tim Schlitzer '
Richard Stredicke
Jesse Tanner
PLAN/BLDG/PUBLIC WORKS EXECUTIVE SERVICES ADMINISTRATIVE SERVICES '
Lynn Guttmann
Administrator City Attorney Executive Assistant Dan Clements
Larry Warren Jay Covington
Administrator
Development Transportation AccouL
Services Director Systems Director City Clerk
y Hearing Examiner Municipal Court Marilyn Petersen Budgetin
Jim Hanson Mel Wilson Judge Iwen '
Fred Kaufman
Roger Lewis
Plann�Director
Utilities Information
ServiceSystems Director Personnel Director Systems Director
Kay Gregg Zimmerman Beverly Nelson-Glode Phil Jewett
Maintenance
Services Director
Jack Crumley '
FIRE DEPARTMENT POLICE DEPARTMENT (,-COMMUNITYSERVICES ,
Lee Wheeler Alan Wallis
Chief Chief Sam Chastain
Administrator '
Jim Mathew Garry Anderson Don Persson Parks&Rec Directo Library Director
Deputy Chief Captain Captain Vacant Clark Petersen
Suppression ,
Ray Baril'aaux Prevention Operations Support Services Facilities Services Human Services
Glen Gordon Gary Gotti Bureau Bureau Manager Manager
Larry Weiss Battalion Chief Jim Shepherd Ron Shelley '
Battalion Chief Investigation Crime Prev
Patrol/Traffic Adm Sv/Training
Animal Control Staff Sery
Gambling Enforcmt Jail Recreation Services
Safety/Emerg Mgt LCaptain
— J Manager '
Jack McLaughlin er Bill Hutsinpillar
Battalion Chief
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�- *`0 CITY OF RENTON
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Earl Clymer, Mayor Finance Department
Honorable Earl Clymer, Mayor June 25, 1993
Members of the Renton City Council
City of Renton
200 Mill Avenue South
Renton, WA 98055
Re: Transmittal of 1992 Comprehensive Annual Financial Report
r. Dear Mayor and Council Members:
This correspondence transmits a copy of Renton's Comprehensive Annual Financial Report for the year ending December
31, 1992. It also provides you with a brief overview of the information contained in the annual report. The letter of
transmittal has been organized into the following five sections: 1.)Introduction; 2.)Economic Condition and Outlook; 3.)
Major Program Initiatives; 4.)Financial Information; and 5.) Other Information.
Introduction
The introductory section will provide you with information regarding the Comprehensive Annual Report's structure,
various representations pertaining to responsibility for drafting the document, and the statutory requirements that frame the
preparation of this report.
Management The City of Renton Finance Department is responsible for the accuracy, completeness, and
Representation fairness of presentation of the information contained in this report. The department warrants
that, to the best of our knowledge and ability, the data and disclosures reported are both accurate
in all material aspects, and that they fairly represent Renton's financial position and results of
operations of its various funds and account groups.
This report is prepared in accordance with the requirements of Washington State Law
43.09.230, and in conformance with generally accepted accounting principles.
' CAFR Contents The report is divided into three sections: 1.) The Introductory Section, which includes the table
of contents, the City of Renton Organization Chart and principal officials, and a letter of
transmittal; 2.) The Financial Section includes an independent auditor's report, and the
combined financial statements and accompanying note disclosures, followed by combining
financial statements by fund type and account group. The combined financial statements,
together with the notes to the financial statements, comprise the general purpose financial
,,. statements, which provide an overview of the financial position and the results of operations for
the City; and 3.) The Statistical Section presents financial, economic, social, and demographic
data about the City. The statistical section is useful in revealing trends which have, and may
continue to affect the City of Renton.
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City of Renton 1992 CAFR '
Reporting Entity This report includes all City funds, account groups, agencies, boards, and commissions that are '
controlled by, or dependent on the City. Control by or dependence upon the City was
determined on the basis of authority to appoint or remove the majority of board members,
financial support including debt secured by revenues or general obligations of the City, '
obligation of the City to finance any deficits that may occur, or receipt of significant subsidies
from the City.
This report does not include the financial position or results of operations for the Renton ,
Housing Authority. The Housing Authority has been excluded because the City neither reviews
their budget nor is obligated to fund any of their deficits. The Mayor does appoint members to
the Housing Authority board. ,
Renton is a participant in the Valley Communications Center, which provides consolidated
emergency dispatch services for the Cities of Auburn, Kent, Renton, and Tukwila. Each City
shares a portion of support to the center, based on dispatchable call services provided to each '
entity. Valley Communications Center is reported in the City's financial statements as a joint
venture.
Economic Condition and Outlook '
The economic condition section of the transmittal letter briefly reviews the status of the local economy, operation of major
industries, and future economic outlook. ,
General The City of Renton is located 11 miles south of Seattle at the southern end of Lake Washington.
Renton is the fourth largest city in King County, and the tenth largest city in the state, with an
official 1992 population of 43,090. Residential growth in the City is generated around single '
family residential construction geared to middle and upper-middle income families. New
commercial and industrial development has primarily been centered either in industrial parks, or
as a part of concentrated industrial support for the City's major commercial and industrial '
enterprises.
The following table presents the City's growth over the past ten years. This table shows
significant growth during the ten year period. The assessed valuation change is distorted by the '
removal of inventory from the base in 1985. During 1992 the City experienced slower growth
than in previous years. Retail sales increased by $18 million over 1991. This was primarily
attributable to construction and services industries. Construction projects include Boeing's ,
Customer Service Training Center at its Longacres site, PACCAR's Kenworth truck plant,
METRO treatment plant expansion, Valley Medical Center improvements and Interstate 405
construction. During 1992, the number of building permits issued decreased by 214 or 6%
while the construction value increased by $37 million or 2190.
Growth Indicator 1983 1992 Chane %Chane ,
Population 32,700 43,090 10,390 32%
Assessed Valuation $ 2,339,492,464 $ 3,131,832,729 $ 792,340,265 34%
Building Permit Value $ 55,038,370 $ 210,500,686 $ 155,462,316 282%
Retail Sales $ 553,526,000 $ 1,088,683,738 $ 535,157,738 97%
Renton's economy is based on a strong manufacturing sector coupled with diversified industries, ,
trades and services. The largest employer and taxpayer within the City limits is the Boeing
Company, its Commercial Airplane Division, Computer Services Division, and Electronics
Division, which together employ 25,392 people. Boeing has a large manufacturing facility in
Renton which fabricates model 737 and 757 jet aircraft. Other major corporations within the
City limits are Pacific Car and Foundry, and Container Corporation of America. In the service
sector, Valley Medical Center is a regional service facility with the 255-bed Medical Center
providing comprehensive health services to a population of 374,000. The Center employs 1,859
individuals, including over 350 physicians.
City of Renton 1992 CAFR
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Retail Saks 1992 saw a change in the composition of sales tax revenue. Service activities became the top
r contributor of sales tax revenues in 1992, accounting for 20% of the total replacing auto sales
which dropped to second place with 19%. Service activities increased $14.4 million or 7%
from 1991, primarily from business leases at Boeing facilities. Minor increases occurred also in
manufacturing, food and restaurants, finance and miscellaneous categories. Auto sales posted a
$13 million, or 6% decrease from 1991. Construction showed a strong 4th quarter gain, which
brought the annual total to about the same level as 1991.
Future Economic As 1993 unfolds, several significant developments occurred. 1.) The airline industry's inability
Outlook to generate profits continues to impact Boeing's production and employment levels. Announced
in January, 1993, Boeing will cut production on all models by an average of 33% and an
estimated 19,000 employees will be laid off in the Puget Sound area by fall of 1994. 2.) In the
retail sector, Sears announced their intent to relocate their Renton Center store to the space
vacated by Frederick & Nelson in the Southcenter Mall at the end of 1993. Fred Meyer has
purchased the Renton Center Mall and will be developing the complex into one of their super
stores. 3.) The Washington State legislature ended its 1993 session adopting a new biennial
budget that called for $688 million in new taxes. Major legislation impacting local government
finances included extending the sales and use tax to most personal service industries; elimination
.� of the utility tax deduction for capital contributions; passage of Health Care Reform; and
continuation of criminal justice funding. 4.) In order to improve the diversification and
economic viability in the City, the Mayor has put together an Economic Development Program
for a two year period, which was presented to the City Council and approved in April, 1993.
Major Program Initiatives
The program initiatives section will outline major programs which the Council adopted during 1992, and provide narrative
regarding what accomplishments occurred on these projects.
,r Corporate Goals The City has identified three primary goals for its operations. 1.) Providing a healthy
atmosphere in which to live and raise families; 2.) Encouraging responsible growth and
economic vitality; and 3.) Creating a positive work environment. The City of Renton, in
partnership with residents, business, and government, is dedicated to maintaining and enhancing
these goals, in order to provide a quality community where people choose to live, work, and
play.
Progress on Goals To continue providing a healthy atmosphere in which to live and raise families, the following
issues were accomplished during 1992. 1.) Acquired six parcels totaling 167 acres for the
preservation of wetlands, wildlife, and open space purposes; 2.) Recertified 36 Emergency
r Medical and Auto Defib Technicians; 3.) Adopted an Aquifer Protection Area Ordinance; 4.)
Diverted 53% of residential waste through curbside recycling and yardwaste programs; 5.)
Adopted Wetlands Ordinance and established wetlands mitigation bank that balances need to
preserve critical habitat; and 6.)Increased health services for senior population.
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To encourage responsible growth and economic vitality, the following initiatives were
implemented: 1.) Selected Comprehensive Plan Land Use alternative (prepared EIS and
.. accompanying zoning); 2.) Established an Economic Development Program to improve the
diversification and economic viability in the City; 3.) Began intensive work with METRO and
others on regional transportation planning; and 4.) Continued work on downtown revitalization
rr plan with Downtown Renton Association.
The following programs were accomplished to create a positive work environment for both the
business and municipal employees: 1.) Conducted staff and Council workshop that confirmed
the City's mission and defined 1992-1993 priorities; 2.) Provided City-wide training for back
injury protection, self defense, sexual harrassment prevention and CPR classes; 3.) Developed
and implemented a commute trip reduction strategy; and 4.) Held second volunteer recognition
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City of Renton 1992 CAFR ,
Capital Project Renton's 1992 Capital Improvement Program involved five basic categories and fifteen groups
Summary of projects. The balance from the prior year and 1992 new allocations totaled $45.3 million,
$17.9 million was expended during 1992, leaving a balance of $27.4 million. Some of the '
multi-year programs may receive further allocations. Project completion is often affected by
weather conditions, grant availability and coordination of the various elements. The library
improvement is completed with the remaining balance going toward an automation program ,
dependent upon the allocation of additional funding. Impact mitigation projects are funded by
developer fees used to offset impacts created by their projects. Open Space projects are funded
by King County voter approved bonds and grants. The Senior Housing project was funded
through a voter approved general obligation bond issue in 1989. The LID project, completed in
1992, was for the construction of South 43rd street from SR167 to Talbot road. The Senior
Housing is scheduled for occupancy in 1993. The table below lists the allocations for each
project group, the amount spent during 1992, the remaining balance and the project status. '
1992 CAPITAL IMPROVEMENT PROGRAM SUMMARY
Balance 1992 Balance Project
Project Description 1/1/92 Expenses 12/31/92 Status
Previously Bonded/Funded
1.) Library Improvement $ 102,958 $ 15,072 S 87,886 100.0%
2.). Community Center 36,570 0 36,570 100.0%
General Government
3.) Multi-Department Projects 926,964 269,695 657,269 On-Going
4.) Transportation Improvement 6,558,337 1,618,077 4,940,260 On-Going ,
5.) Park Improvement Projects 456,023 26,287 429,736 On-Going
Desienated
6.) Arterial Street Projects 37,516 43,961 (6,445) 100.0%
7.) Impact Mitigation Projects 8,045,387 4,313,743 3,731,644 On-Going '
8.) LID Construction 1,589,721 1,394,106 195,615 100.0%
9.) Open Space Projects 5,155,391 186,422 4,968,969 On-Going
10.) Senior Housing Project 6,047,045 4,972,225 1,074,820 On-Going
Waterworks Utility
11.) Water Projects 5,456,382 1,961,598 3,494,784 On-Going
12.) Sewer Projects 5,712,121 838,200 4,873,921 On-Going
13.) Storm Projects 3,582,402 994,492 2,587,910 On-Going '
Other Proiects
14.) Airport Improvement Projects 1,183,633 863,248 320,385 On-Going
15. ui ment Rental Purchases 1 436,050 1 444,903 81853 100.0% ,
Total Capital Im rovement Pro ram $45,326,500 1 $17,942,029 1 $27,384,471
Financial Information
The financial information section of the transmittal letter will discuss accounting/budgetary controls, and summarize '
operating results for Renton's major fund groups.
Accounting and The City utilizes various accounting and administrative controls to ensure stewardship '
Administrative Controls responsibilities are fulfilled. Accounting control includes the plans, procedures, and systems
used to insure safeguarding of assets and reliability of financial records. These controls provide
reasonable assurance that transactions are executed in accordance with management '
authorization, recorded in conformity with Generally Accepted Accounting Principles, and that
sufficient reporting and review exists to provide adequate information for comparability and
analysis of data. Administrative control refers to the decision making process utilized to
establish management authorization for financial transactions, and is the starting point for '
establishing accounting controls.
Washington State cities and counties must comply with the Budgeting, Accounting and ,
Reporting System prescribed by the Office of the State Auditor. State laws also provide for
annual independent audits by the Office of the State Auditor. Audits routinely include a
thorough review of all administrative and accounting policies and procedures.
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City of Renton 1992 CAFR
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W Budgetary control is integrated with the accounting system. Budgeting is carried out in
accordance with State RCW 35A.33. Annual appropriated budgets are adopted for the General,
Special Revenue, Debt Service and Capital Projects Funds, with appropriations lapsing at year-
end. Enterprise and Internal Service Fund budgets are for management control only and are,
therefore, not reported. A budget increase or decrease to a fund must be authorized by the City
Council, while transfers within a fund may be authorized by the Mayor. All budgets are
controlled at the fund level. An encumbrance system is maintained to account for all
commitments resulting from approved purchase orders and contracts and serves as an additional
measure of budgetary control. Open encumbrances lapse at year-end and are reappropriated or
absorbed in the next year's operating budget.
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General Governmental General Governmental operations consist of General Fund, Special Revenue Funds and Debt
Revenues Service Funds. The following table summarizes the revenues by source for 1991 and 1992.
General Government Revenues 1992 1991 Chan e
and Other Sources Amount % Amount % Amount %
Property Taxes $10,972,810 20.8% $10,188,021 23.6% S 784,789 7.7%
Sales Taxes 9,795,789 18.6% 9,616,181 22.3% 179,608 1.9%
Utility Taxes 5,040,211 9.6% 4,656,388 10.8% 383,823 8.2%
Other Taxes 6,933,933 13.1% 2,708,571 6.3% 4,225,362 156.0%
Licenses and Permits 1,258,803 2.4% 1,156,779 2.7% 102,024 8.8%
Intergovernmental Revenues 2,892,682 5.5% 2,948,562 6.8% (55,880) -1.9%
Charges for Services 1,610,795 3.0% 2,099,067 4.9% (488,272) -23.3%
Fines and Forfeits 884,692 1.7% 803,176 1.8% 81,516 10.1%
Interest 1,330,794 2.5% 1,160,014 2.7% 170,780 14.7%
Miscellaneous Revenue 2,480 072 4.7% 2,072,877 4.8% 407,195 19.6%
Sub-total Revenues 43,200,581 81.9% 37,409,636 86.7% 5,790,945 15.5%
Other Financing Sources 797,888 1.5% 41,055 .1% 756,833 184.3%
Beginning Fund Balance 8,726,560 16.6% 5,704,243 13.2% 3,022,317 53.0%
Total Resources and Fund Balance 1$52,725,029 100.0% $43,154,934 100.0% $9,570,095 22.2%
1992 General Governmental revenues totaled $43.2 million, an increase of $5.8 million, or
15.5% more than 1991. All taxes allocated to these funds increased by 20.5%. The following
addresses the fluctuation between 1991 and 1992: 1.) Other Taxes -The increase of 156.0% is
due to a $4 million mitigation fee from Metro. $3.5 million was subsequently used to purchase
t� wetlands in May, 1992. 2.) Licenses and Permits -Building permits increased by $70,000 over
1991 due to a limited number of large commercial and public works projects. Uniform Fire
Code permit fees increased $17,000 over 1991 based on a 1992 budget recommendation to raise
user fees to fund certification program. 3.) Charges for Services - The decrease is attributable
to a higher than normal environmental impact review fee collected during 1991. 4.)
Miscellaneous Revenue - During 1992, several major local improvement district participants
prepaid their assessments causing a significant portion of the increase in this item. 5.) Other
+•r Financing Sources - $741,000 of the increase relates to the Black River wetlands acquisition.
Transfers-In supporting this acquisition include $333,413 from the Open Space Capital
Improvement Fund, $131,825 from the Municipal Facilities CIP Fund, $166,000 from the
Transportation CIP Fund, and$110,000 from the Insurance Fund.
General Governmental The City's General Governmental operating expenditures and other uses, which includes
Expenditures General, Special Revenue and Debt Service Fund types, are summarized on the next page.
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City of Renton 1992 CAFR '
General Government 1992 1991 Change ,
Expenditures and Other Uses
Amount % Amount % Amount %
General Government $5,607,839 10.6% $5,045,540 11.7% $562,299 11.2% ,
Security of Persons/Property 13,551,649 25.7% 12,324,533 28.5% 1,227,116 10.0%
Physical Environment 1,157,112 2.2% 976,822 2.3% 180,290 18.5%
Transportation 3,074,076 5.8% 2,819,625 6.5% 254,451 9.0% '
Economic Environment 3,041,773 5.8% 3,176,411 7.4% (134,638) 4.2%
Mental and Physical Health 10,992 0.0% 10,601 0.0% 391 3.7%
Culture and Recreation 4,291,090 8.2% 4,026,495 9.3% 264,595 6.6% '
Capital Outlay 4,863,209 9.2% 541,075 1.3% 4,322,134 798.8%
Debt Service 3,947,606 7.5% 4,270,821 9.9% (323,215) -7.6%
Sub-total Expenditures 39,545,346 75.0% 33,191,923 76.9% 6,353,423 19.1%
Other Financing Uses 1,155,289 2.2% 1,236,451 2.9% (81,162) -6.6% '
Ending Fund Balance 12,024 394 22.8% 8,726,560 20.2% 3,297,834 37.8%
Total Expenditures/Fund Balance $52,725,029 100.0% $43,154,934 100.0% $9,570,095 22.2%
Expenditures for general governmental functions totaled $39.5 million in 1992, an increase of ,
19.1% or $6.4 million over 1991. The cost of living increases for 1992 were 7.7% for
firefighters, 6.7% for police commissioned and 4.0% for police non-commissioned, 5.03% for
management and supervisory staff, and 6.7% for all other City employees. 88% of the City's '
work force is included in these general governmental funds. The following identifies major
fluctuations between 1991 and 1992: 1.) General Governmental - Increases in salaries and
health benefits is the major contributor to this variance. 2.) Security of Persons/Property -The '
major areas of increase are: salaries and benefits to accommodate the cost-of-living increase;
private security overtime which has offsetting revenue; and equipment rental, reinstated to the
prior year level after a one-time savings in 1991. 3.) Culture and Recreation -The increase of ,
6.6% is primarily due to salaries and benefits. 4.) Capital Outlay -The$4.3 million increase is
for wetlands acquisition purchased out of the Impact Mitigation Fund. 5.) Other Financing
Uses - The decrease primarily relates to the Arterial Street Fund's annual operating transfer to '
the CIP Fund for the street overlay program.
General Governmental The table below provides a summary of General Governmental revenues, expenditures and fund
Fund Balance balance for 1991 and 1992, which includes General, Special Revenue and Debt Service Fund '
types. 1992 revenues grew by $5.8 million or 15.5%, and expenditures were $6.4 million or
19.1% more than 1991. 1992 revenues exceeded expenditures by $3.7 million. Although the
total ending fund balance increased by $3.3 million, it is important to note that the majority of '
this fund balance is designated for special purposes and not available for appropriation.
General Government Revenues,Expenditures Chane '
and Fund Balance 1992 1991 Amount Percent
Total Revenues $43,200,581 $37,409,636 S 5,790,945 15.5%
Total Expenditures 39,545,346 33,191,923 6-1-3-5-3142--3 19.1%
Excess of Revenues over Expenditures 3,655,235 4,217,713 (562,478) -13.3% '
Other Increases(Decreases) (357,401) (1,195,396) 837,995 70.1%
Fund Balance January 1 8,726,560 5704,243 3,022,317 1 53.0%
Fund Balance December 31 $ 12,024,394 $ 8,726,560 S 3,297 834 1 37.8% '
Proprietary Operations The City's proprietary operations include four enterprises and two internal service funds. The '
four enterprises are: A Water/Waste Water/Surface Water (Waterworks) Utility, Municipal
Airport, Municipal Golf Course and Solid Waste Utility. Each enterprise reimburses the
General Fund for services received, including data processing, central stores, and printing. The ,
amount charged is expressed as a percentage of operating expenses, together with operation
summaries of these enterprises as listed below.
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City of Renton 1992 CAFR
Waterworks Ai ort Solid Waste Golf Course
Item 000's 1992 1 1991 1992 1 1991 1992 1991 1 1992 1991
Operating Revenues $13,926 $12,108 $ 552 $ 503 $6,299 $5,242 $ 899 $ 741
Operating Exp.w/o Der 9,767 8,856 284 317 6,225 5,141 554 454
r Operating Inc.w/o Depr $4,159 $ 3,252 $ 268 $ 186 $ 74 $ 101 $ 345 $ 287
General Fund Reimb $ 1,322 $ 1,025 $ 32 $ 11 $ 145 $ 89 $ 9 $ 9
Reimbursement as a %of
Operating Exp. 13.54% 11.57% 11.27% 3.47% 2.33% 1.73% 1.62% 1.98%
Available for Debt Svc. $5,814 $ 4,677 $ 322 $ 237 N/A N/A N/A N/A
s Debt Service Coverage 2.63 2.07 6.60 4.58 N/A N/A N/A N/A
Retained Earnings 1 $8,8071 $ 7,5071 $3,053 1 $2,822 $ 912 $ 789 1 $ 1,820 $ 1,384J
The Waterworks Utility is in its tenth year of a multi-million dollar construction program.
Major capital projects completed in 1992 included the installation of the West Kenneydale
Interceptor, NW 7th Street Sewer repair, and the extension and replacement of 8,408 linear feet
of water and 3,647 linear feet of waste water transmission mains.
ar On January 1, 1992, the City Council approved a 10.8% increase in water rates and a 20.4%
increase in waste water utility rates. Surface water rates increased 100% on July 1, 1992. The
rate increases were needed to fund increased operation and maintenance costs together with a
r $10.6 million rehabilitation and construction program. The major goals of the Water Utility are
to continue water rights acquisition and development, and to protect resources to insure an
adequate and safe future water supply. Waste water improvements include the installation of
additional interceptors to provide service for future development. The Surface Water Utility
will be focusing on the Cedar River Flood Control study and Sediment Management programs.
The Renton Municipal Airport averages approximately 144,000 annual take-offs and landings.
�. Airport leases are the primary resource to the fund with the Boeing Corporation as a major
tenant. A $467,000 pavement rehab project was completed in 1992, 90% funded by the FAA.
Major future capital improvements include security fence improvements and reconstruction of
a�
the seaplane ramp.
Solid Waste rates for 1992 were increased by 19% primarily to accommodate the increase in the
pass-through King County tipping fee. The residential recycling and yardwaste collection
programs implemented in August 1989 continue to be very successful. During 1992, 7,062 tons
of recyclables and yardwaste were diverted from the waste stream, an increase of 5.9% over
1991. The City entered into contract negotiations with the hauler in 1992 primarily to extend
r the existing contract another seven years to retain a favorable recycling subsidy rate and to add
the collection of plastics. The contract was signed during February, 1993. The multi-family
recycling program is scheduled for implementation the first quarter of 1993.
The Golf Course Fund was created in January 1985 with the adoption of Ordinance#3884. The
Ordinance authorized issuance of $3,965,000 Councilmanic General Obligation Bonds to
acquire, improve, and develop the golf course. The Maplewood Golf Course is an 18-hole
.r course and is operated by a concessionaire, and maintained by the City through the Recreation
Division of the Community Services Department. During 1992, approximately 76,603 rounds of
golf were played, compared with 78,250 rounds in 1991. Debt retirement of the 1986 general
r obligation bonds used to acquire the golf course is funded each year by a transfer from the
General Fund. $372,125 was transferred in 1992. Major capital improvements in process
include reconstruction of holes 10 and 11 and design of a clubhouse and driving range.
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Ciry of Renton 1992 CAFR '
Internal Services Renton's two Internal Service operations are the Equipment Rental and Insurance Funds. '
Equipment Rental accounts for the maintenance and replacement of over 200 City vehicles and
auxiliary equipment by charging user departments a rental fee. In 1992, eleven pieces of
equipment were replaced, and eight new additions were added to the fleet. Acquisition costs '
totaled$388,209.
Risk Management In 1984, the City adopted a comprehensive self-insurance program for its liability, property, and ,
worker's compensation exposures. The Insurance Fund was established to account for this
activity. In the program, the City retains$250,000 per property and general liability claims. In
addition, a $500,000 reserve is maintained. The Insurance Fund charges City departments to
finance their risk, based on claims history and cost of excess insurance coverages. Claim '
payments and appropriate excess insurance coverages are financed by the fund.
The City began self-insuring for health care in 1985. Dental coverage was folded into the self- ,
insurance plan in 1988. Excess medical loss insurance is purchased to provide coverage in
excess of$70,000 per person with a maximum life time coverage of$1,000,000 per person. In
1992, 527 employees with 918 dependents, 33 Cobra and 73 eligible retired firefighters and
policemen were covered under this program. ,
In addition to regular insurance activity, the City maintains an operating reserve to protect
against future economic revenue downturns. The operating reserve is targeted at 8% of general ,
governmental expenditures (General, Parks, Street, Library, and Limited Debt Service Funds).
At year-end, the required operating reserve was $2,765,120, while the actual retained earnings
totaled $708,391. The City increased premiums by 25% in 1992 and will increase premiums an
additional 25% in 1993. A total of $300,000 was transferred in 1992 to help rebuild the ,
retained earnings. The following table summarizes the Self-Insurance Fund operations for 1992:
Property& Workers Unemploy. '
Item Medical Dental Liability Comp. Comp. Total
Claims Paid $1,875,455 $374,694 $ 1,118,503 S 243,482 $ 74,233 $3,686,367
Excess Loss Coverage 103,060 0 412,901 0 0 515,961
Administrative Fees 118,421 0 20,452 0 0 138,873 '
Total Costs 2,096,936 374,694 1,551,856 243,482 74,233 4,341,201
Premium Received 1,752,307 366,400 689,045 334,376 30,000 3,172,128
Surplus(Deficiency) $ 344,629 $ 8,294 $ (862,811) $ 90,894 $ 44,233 S 1,169,073
Debt Administration The following table displays the City's remaining general obligation debt capacities, outstanding
debt, and the ratio to 1993 current assessed value($3,409,487,114):
Remaining Capacity Percent Net Outstanding Percent '
Type of G.0 Bond Issue as of 12/31/92 of AV Debt as of 12/31/92 of AV
General Purpose:
General/Non-Voted $ 13,558,980 0.40% S 12,012,173 0.35% ,
General/Voted 54,765,017 1.61% 4,901,008 0.14%
Total General Purpose 68,323,997 2.00% 16,913,181 0.50%
Parks/Open Space 80,871,127 2.37% 4,366,051 0.13%
Utility Purpose 85,237,178 2.50% 0 0.00% '
Total Debt Capacity $234,432,302 6.88% $ 21,279,232 0.62%
During 1992, $1,686,335 of general obligation bonds and installment contracts and $895,000 of '
revenue bonds were retired. Bonds issued during 1992 included $1,365,000 in general
obligation bonds, $4,000,000 in revenue bonds and $4,635,000 in revenue refunding bonds.
The City entered into one new installment contract of$167,328 for wetlands acquisition. This
contract was paid off in 1992. The City also contracted for a second Public Works Trust Fund
loan in the amount of $888,462. The City also borrowed an additional $8,478 increasing the
balance outstanding for the first Public Works Trust Fund loan to $84,779. These loans are
from the Washington State Department of Community Development and the proceeds are being ,
used for sewer improvements. The City's current bond rating is Al from Moody's Investors
Service for both general obligation and revenue bonds.
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My of Renton 1992 CAFR
Cash Management The City operates an aggressive cash management program, investing all surpluses as
determined by anticipated cash flow needs. Investment decisions are based on established
investment policies, analysis of liquidity requirements, safety assurances and yield. The City's
portfolio consists of federal government obligations, investments in the State Investment Pool,
prime banker's acceptances, and certificates of deposit with maturities ranging from one day to
sixteen years.
Safeguarding assets is of primary concern to the City and its regulating agencies. In April of
.. 1987, the Governmental Accounting Standards Board issued Statement #3, requiring detailed
disclosure regarding the risk associated with deposits and investments held by the City. A
categorization procedure was established where Category 1 includes investments that are either
insured, registered or held by the City or its agent in the City of Renton's name; Category 2
r includes uninsured and unregistered investments held by the counterparty's trust department or
agent in the City's name; and Category 3 includes uninsured and unregistered investments for
which the securities are held by the counterparty's trust department or agent but not in the City's
�+ name. This categorization for the City of Renton is included in Note 3 of the Notes to the
Financial Statements. In order to assure the highest degree of safety on all City investments, a
safekeeping agreement was established for all securities purchased after December, 1988. This
will insure investments meet the Category 1 classification test.
The Washington State Treasurer manages a State Investment Pool for use by any city, county,
town, municipal corporation, or special taxing district within the state. Municipalities
determine the amount and length of investment based on individual cash flow needs. Interest is
earned based on the pool's actual experience for the month, less an administrative fee. The
interest rate earned by the pool has become a recognized benchmark for entities to measure their
.� own portfolio performance. In 1992, the average interest rate earned by the State Investment
Pool was 3.94%, compared to the 4.84% earned by the City. The following table compares
1991 and 1992 investment activity.
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Item 1992 1991 Difference
Average Invested Balance $36,823,737 $30,212,750 $6,610,987
Average City Interest Rate 4.84% 6.63% -1.79%
Average State Pool Rate 3.94% 6.22% -2.28%
Total Interest Earnings $ 2,012,232 $ 2,648,478 $ 636,246
Other Information
The final section of the letter of transmittal will provide information regarding the City's annual audit, awards, and
acknowledgments.
Independent Audit Washington State Law requires an annual audit of the City's financial statements by the
r.r independently elected State Auditor. The State Auditor conducts the audit in accordance with
generally accepted auditing standards, as promulgated by the American Institute of Certified
Public Accountants (AICPA), and provides an independent opinion on the City's financial
•r position and results of operations and the cash flows of its proprietary fund types. In addition to
the opinion on the City's financial statements included in this report, the State Auditor also
issues separate reports on internal control and compliance with laws and regulations that meet
the requirements of the Single Audit Act of 1984 and related OMB Circular A-128. The audit
of 1992 has been completed and the City has been issued an unqualified opinion. The
"Independent Auditor's Report" is included in the "Financial Section" of this document.
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City of Renton 1992 CAFR '
Certificate of The Government Finance Officers' Association of
Achievement
Achievement Certificate Achievement
the United States and Canada (GFOA) awarded the
Certificate of Achievement for Excellence in
for Excellence
in Financial Financial Reporting to the City of Renton for its
,
Reporting Comprehensive Annual Financial Report for the
Presented tri year ended December 31, 1991. The Certificate of
City of Renton,
Achievement is a prestigious national award '
recognizing conformance with the highest
Washington standards for preparation of state and local
F—iia CutnNreh¢nsiv¢Annual
Futi—A.l R.:1-1 government financial reports.
for the Fiscal Year Ended '
December 31,1991
A Ciest,tTb.W AeMrtwnaK for L_.ik_.h F,.__l
P"r_6 r p--�d bY�C---=tk,.r,o.CMS.. In order to be awarded a Certificate of
A-of the unssd S� CA. d.W
"°°�"`" '°""'1W r.-"' Achievement, a government unit must publish an
...t.R.wA.r wr wr br.-r un�.r.....
Hoot+.OCAFFw�JJ,.uw tea
..dk. �^
.w reporttr,p. easily readable and efficiently organized '
d f
Comprehensive Annual Financial Report, whose
a contents conform to program standards. Such
Comprehensive Annual Financial Reports must
satisfy both generally accepted accounting '
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The City of Renton has '
received a Certificate of Achievement for the last six consecutive years (fiscal years ended 1986-
1991). We believe our current report continues to conform to the Certificate of Achievement
program requirements, and we are submitting it to GFOA. ,
Acknowledgments Preparation of this report could not have been accomplished without the professional, efficient,
and dedicated services of the entire staff of the Finance Department and the various department
heads and employees who assisted and contributed to its preparation. Further appreciation is
extended to the Mayor and City Council for their encouragement, interest, and support in
conducting the financial operations of the City in a sound and progressive manner. The efficient
assistance of examiners from the office of the State Auditor is also appreciated. Staff who had a '
direct role in preparing Renton's 1992 Comprehensive Annual Financial Report take great pride
in their work, and the entire team who worked on this project are recognized on the last page of
the report. ,
I would also like to acknowledge the many contributions of Dan Clements, the City's Finance
Director since 1986 who resigned March 1, 1993 to accept a Finance Director position with
Snohomish County. His ingenuity and creativity will be greatly missed. '
I will be happy to respond to any questions or comments about the information contained in this report. Again, sincere
thanks for the support shown to the Finance Department. '
Sincerely,
CITY OF RENTON '
7wen ang '
Acting Finance Di for
cc: Washington State Auditor '
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City of Renton 1992 CAFR
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Financial Section
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Washington State Auditor
Legislative Building (206) 753-5277
PO Box 40021 Brian Sonnta SCAN 234-5277
Olympia,is Washin on 98504-0021 g FAX(206)753-0646 SCAN 234-0696
ymp Washington
o:•::•:•::::;::
:.:>: :
INDEPENDENT AUDPI'OR'S REPORT ``"'```�
June 21, 1993
The Honorable Mayor and City Council I.. ......
City of Renton ""''.....`..
Renton,Washington "'"``''"
We have audited the general-purpose financial statements of the City of Renton,King County,Washington,as of and for the I fiscal year ended December 31, 1992,as listed in the table of contents. These financial statements are the responsibility of
__ the city's management. Our responsibility is w express an opinion on these financial statements based on our audit. '•''
We conducted our audit in accord mce with generally accepted auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining,on a test basis,evidence supporting the amounts and disclosures in die financial statements.
An audit also includes assessing the accounting principles used and significant estimates made b management,as well as
8 %P P 8 Y a8
::::::::evuating the overall financial statement presentation. We believe ve drat o r audit provides areasonable basi for our opinion.
Our audit was performed pursuant to the Revised Code of Washington 43.09.260,under which a full report on the results of
this audit will be issued. This report may include findings and recommendations on compliance matters,internal control
procedures,and questionable costs or contingencies that would not be material in relation to the general-purpose financial
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statements taken as a whole.
In our opinion,the financial statements referred to above resent fain ,in all material respects,the financial position of the
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City of Renton,King County,Washington,at December 31, 1992,and the results of its operations and the cash flows of its
......x
proprietary fund types and similar trust funds for the fiscal year then ended in conformity with generally accepted accounting
..:::
principles.
.
Our audit was made for the purpose of forming an opinion on the general-purpose financial statemertts taken as a whole. The
combining,individual fund,and account group financial statements and schedules listed in the table of contents are presented
for purposes of additional analysis,and are not a required part of the general-purpose financial statements of the City of
Renton Kin Count Washington. The information has been subjected to the procedures lied in the audit of the general- s
8 Y• 8 J Prce� applied 8
u e financial statements and,in our opinion,is fair) stated in all material respects in relation to the general-purpose P P Y Pce 8 P
financial statements taken as a whole.
The other data included in this re desi nated as the statistical section in the table of contents,has not been audited b
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us and,accordingly,we express no opinion on such data.
Sin ly,
so
Brian Sonnteg
Stale Auditor
as
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City of Renton 1992 CAFR
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1992 Annual Financial Report
General Purpose Financial Statements
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City of Renton 1992 CAFR
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS: DECEMBER 31, 1992
Page 1 of 2
With Comparative Totals for December 31, 1991
GOVERNMENTALFUNS fiYPrrS: ..
SPECIAL DEBT CAPITAL
GENERAL REVENUE SERVICE PROJECTS w
ASSETS:
$ 2,436,903 $1,477,370 $ 1,581,895 $ 3,107,585
Cash and Cash Equivalents
Cash With Fiscal Agent ................................. 0 0 66,280 0
Deferred Compensation Plan Assets - Note 4 ............. 0 0 0 0
Investments - Note 3 ................................... 0 4,794,899 2,205,000 6,882,103
Receivables, net of Allowance for Uncollectibles-Note 5: 1,957,655 93,690 3,976,773 114,359 '
Due From Other Funds - Note 5 .......................... 12,114 39,134 20,668 15,604
Interfund Loans/Advances-Current - Note 5 .............. 0 0 0 0
Due From Other Governmental Units - Note 5 ............. 55,586 94,818 0 323,858
Inventory of Material and Supplies - Note 1 ............ 0 0 0 0
Prepaid Items - Note 8 ................................. 0 0 0 0
Investment in Joint Venture - Note 9 ................... 0 0 0 0
Restricted Assets:
0 0
Deposits ............................................. 0 0
Revenue Bond Debt Service ............................ 0 0 0 0
Construction Account ................................. 0 0 0 0
Interfund Loans/Advances Non-Current - Note 5 ........ 54,000 0 0 0
Fixed Assets (Net) - Note 1 & 7 ........................ 0 0 0 0
Construction In Progress Note 7 ...................... 0 0 0 0
Deferred Charges and Other Assets - Note 13 ............ 0 0 0 0
Available in Debt Service & Capital Project Funds....... 0 0 0 0 �r
Amount To Be Provided Long Term Debt Retirement ........ 0 0 0 0
TOTALASSETS'............................................. $»4,516,258 $6,499,911 $ 17,850,616 $10,443,509 ' '
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ........................... $ 255,177 S 275,260 $ 0 $ 531,527
Retainage Payable .................................... 0 0 0 58,534 '
Due To Other Funds - Note 5 .......................... 178,026 0 0 15,080
Interfund Loans/Advances-Current Note 5 ............ 0 0 0 0
Due To Other GovernmentaL Units - Note 5 ............. 736,361 1,040 0 0
Payables - Note 5 .............................. 917 1,358 66,280 0 '
Deferred Revenues .................................... 1,169,908 859 3,831,854 1,685,107
Liabilities Payable from Restricted Assets:
Deposits Payable ................................... 0 0 0 0
General Obligation Bonds Payable-Current-Note 12 ... 0 0 0 0 '
Revenue Bonds Payable - Current Portion-Note 12 .... 0 0 0 0
Other Short Term Liabilities - Note 12 ............... 0 0 0 0
Deposits Payable ..................................... 68,805 15,245 0 0
General Obligation Bonds Payable-Current-Note 12 ..... 0 0 0 0 '
General Obligation Bonds Payable - Note 12 ........... 0 0 0 0
Unamortized Discounts on G.O. Bond ................... 0 0 0 0
Special Assessment Bonds Payable - Note 12 ........... 0 0 0 0
Revenue Bonds Payable - Note 12 ...................... 0 0 0 0 '
Unamortized Discounts on Revenue Bond ................ 0 0 0 0
Accrued Employee Leave Benefits - Note 1 & 12 ........ 128,993 62,308 0 105
Deferred Compensation Payable - Note 4 ............... 0 0 0 0
Interfund Loans/Advances - Non-Current - Note 5....... 0 50,000 0 0
Claims Incurred But Not Reported - Note 17 ........... 0 0 0 0
Installment Purchase Contracts - Note 12 ............. 0 0 0 0
Public Work:: Trust Fund Loan Payable 0 0 0 0
Arbitrage ?rebate Tax Payable - Note 12 ............... 0 0 0 0 '
TOTAL LIABILITIES $ 2,538,187 $ 406,070 $ 3,898,134 S 2,290,3531'
FUND EQUITY AND OTHER CREDITS:
Fund Balance:
Reserved - Note 1 & 14 ..................... $ 54,000 $ 0 $ 3,952,482 S 330,995 '
Unreserved Designated ............................ 293,599 5,380 0 0
Unreserved Undesignated .......................... 1,630,472 6,088,461 0 7,822,161
Contributed Capital .................................. 0 0 0 0
Retained Earnings:
Reserved - Note 1 & 14 ............................. 0 0 0 0
Unreserved ......................................... 0 0 0 0 r
Investments in Joint Venture and General Fixed Assets. 0 0 0 0
TOTAL FUND EQUITY AND OTHER CREDITS ......................'' $ 1,978:,071 $ 8;153,;156`'.
TOTAL' LIABILITIES, ''EQUITY>AND OTHER',CREDITS .............. $ 4,516;:258 1A6,499�:P1I <::T,850,:616 x,,10,443,:509
THE ACCOMPANYING NOTES ARE
4
City of Renton 1992 CAFR
Page 2 of 2
PROPRIETARY FUND fYP:.ES FIDUCIARY:;: ACCOUNT.:.GROUPS COMPARAI'IifI::;T01A15
.:....:.
INTERNAL TRUST GENERAL GENERAL LONG (MEMORANDUM ONLY)
ENTERPRISE SERVICE AND AGENCY FIXED ASSETS TERM DEBT 1992 1991 Y
$ 539,362 $ 602,263 S 620,858 $ 0 $ 0 $ 10,366,236 S 8,365,875
1,969 0 0 0 0 68,249 139,759
0 0 3,439,581 0 0 3,439,581 2,747,732
2,670,433 1,430,372 2,033,516 0 0 20,016,323 19,069,494
2,750,948 39,061 101,972 0 0 9,034,458 10,298,704
134,675 0 0 0 0 222,195 280,135
0 9,209 0 0 0 9,209 89,683
1,005,301 83,465 0 0 0 1,563,028 1,092,590
242,704 52,828 0 0 0 295,532 299,155
3,938 3,000 0 0 0 6,938 6,938
0 0 0 646,906 0 646,906 461,222
20,480 0 0 0 0 20,480 21,688
3,905,118 0 0 0 0 3,905,118 2,527,639
8,017,714 0 0 0 0 8,017,714 5,059,808
0 39,890 0 0 0 93,890 53,099
84,037,922 1,559,094 0 52,619,447 0 138,216,463 130,715,171
6,900,195 0 0 122,393 0 7,022,588 4,144,451
176,000 0 0 0 0 176,000 192,000
r' 0 0 0 0 4,283,477 4,283,477 3,063,084
0 0 0 0 24,671,934 24,671,934 26,081,551
$110;406,759 $ 3,819,182 $ 6,1:95,927 >: $53 388,74.6 :5 28,955,411 $232,076,319 :-:-:$:,214. 709,778
$ 1,015,389 $ 51,756 $ 3,176 $ 0 $ 0 $ 2,132,285 $ 2,011,301
53,207 0 0 0 0 111,741 176,626
25,765 3,324 0 0 0 222,195 280,135
9,209 0 0 0 0 9,209 89,683
9,420 0 0 0 0 746,821 708,001
371,221 15,663 0 0 0 455,439 554,216
75,787 0 0 0 0 6,763,515 7,218,710
20,480 0 0 0 0 20,480 21,688
295,260 0 0 0 0 295,260 273,980
1,120,000 0 0 0 0 1,120,000 895,000
0 18,630 0 0 0 18,630 24,653
0 0 318,274 0 0 402,324 383,982
0 66,920 0 0 0 66,920 106,155
3,183,980 795,443 0 0 17,363,397 21,342,820 21,324,865
(94,375) (11,529) 0 0 0 (105,904) (113,586)
0 0 0 0 7,584,000 7,584,000 8,567,000
21,425,000 0 0 0 0 21,425,000 18,155,000
(471,992) 0 0 0 0 (471,992) (439,555)
286,616 44,743 0 0 3,063,307 3,586,072 2,696,822
0 0 3,439,581 0 0 3,439,581 2,747,732
39,890 0 4,000 0 0 93,890 53,099
0 723,609 0 0 0 723,609 435,561
0 0 0 0 613,712 613,712 767,719
963,82.1 0 0 0 0 963,821 76,301
7,465 2,723 0 0 330,995 341,183 215,304
, 001' T$ 28;336,143 $ 7717282 S S 71, 392
$ 0 $ 0 $ 6,998,000 $ 0 $ 0 $ 11,335,477 $ 9,723,281
0 0 0 0 0 298,979 203,963
0 0 (4,567,104) 0 0 10,973,990 11,688,918
67,478,189 1,038,192 0 0 0 68,516,381 65,250,795
2,004,768 500,000 0 0 0 2,504,768 2,201,507
12,587,659 569,708 G 0 0 13,157,367 12,110,109
0 0 0 53,388,746 0 53,388,746 46,300,813
$ 82,070,616 ' $ 2,107,900' $ 2,430,896: $53,388,746 $ 0 t160,175,708 $147,479,386
5110,406,759 ' ' $ 3,819,182 $ 6,,195,927 $53,388,746 $28,955,411 S 232,076,319 $214,709,778
AN INTEGRAL PART OF THIS STATEMENT
5
City of Renton 1992 CAFR '
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES Page 1 of 1 ,
FOR ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
GOVERNMENTAL FUND TYPES COMPARATIVE TOTALS '
SPECIAL DEBT CAPITAL (MEMORANDUM ONLY)
GENERAL REVENUE SERVICE PROJECTS 1992 1991
REVENUES
Taxes ............................. S17,532,540 S12,846,617 $2,489,973 S 548,285 33,417,415 S 27,421,827
Licenses And Permits ............... 1,234,753 24,050 0 2,077,755 3,336,558 3,132,604
Intergovernmental Revenues ......... 1,575,912 1,316,770 0 1,478,111 4,370,793 3,572,511
Charges For Services ............... 1,001,891 608,904 0 527 1,611,322 2,100,453
Fines And Forfeits ................. 867,386 17,306 0 0 884,692 803,176 '
Special Assessments ................ 0 0 1,739,087 0 1,739,087 1,465,954
Interest ........................... 336,838 251,715 742,241 311,318 1,642,112 1,917,498
Miscellaneous Revenues ............. 191,041 423,557 0 1,826,868 2,441,466 650,063
TOTAL REVENUES ......................S 22,740,361 S 15,488,919 $4,971,301 S 6,242,864 49,443,445 S 41,064,086
EXPENDITURES ,
Current:
General Government .............. $ 4,209,899 S 1,397,940 $ 0 $ 37,165 5,645,004 $ 5,045,540
Security Of Persons And Property . 13,551,649 0 0 0 13,551,649 12,324,533 '
Physical Environment ............. 1,157,112 0 0 0 1,157,112 976,822
Transportation ................... 0 3,074,076 0 2,805,009 5,879,085 6,271,110
Economic Environment ............. 2,444,899 596,874 0 0 3,041,773 3,176,411
Mental And Physical Health ....... 10,992 0 0 0 10,992 10,601 '
Culture and Recreation ........... 0 4,291,090 0 0 4,291,090 4,026,495
Capital Outlay ..................... 318,926 4,544,283 0 6,467,816 11,331,025 1,926,134
Debt Service:
Principal Retirement ............. 43,802 0 2,106,341 0 2,150,143 2,876,629 '
Interest & Fiscal Charges 27,713 0 1,769,750 200,520 1,997,983 2,036,716
TOTAL EXPENDITURES .................. $21,764,992 $13,904,263 $3,876,091 $ 9,510,510 49,055,856 S 38 670,991
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ................... $ 975,369 S 1,584,656 $1,095,210 S(3,267,646) 387,589 S 2,393,095
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ........ $ 694 S 0 $ 0 S 1,051,050 1,051,744 S 3,217,481 '
Operating Transfers In ............. 55,956 741,238 0 727,666 1,524,860 565,135
Operating Transfers (Out) .......... (672,125) (482,575) 0 (922,039) (2,076,739) (1,236,176)
Sale Of General Fixed Assets ....... (589) 0 0 0 (589) 11,471
TOTAL OTHER FINANCING SOURCES (USES) $ (616,064) $ 258,663 $ 0 S 856,677 499,276 $ 2,557,911 '
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES$ 359,305 S 1,843,319 $1,095,210 $(2,410,969) 886,865 S 4,951,006
FUND BALANCE JANUARY 1 ............... 1,618,766 4,250,522 2,857,272 10,564,125 19,290,685 14,336,543 '
Residual Equity Transfers In ....... 0 0 0 746,675 746,675 3,411
Residual Equity Transfers Out ...... 0 0 0 (746,675) (746,675) (275) t
FUND BALANCE DECEMBER 31 ............ $ 1,978,071 '- S 6,093,841 $3,952,482 S 8,153,156 20,177,550 519,290,685
t
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
6 '
City of Renton 1992 CAFR
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 1 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
�' GENERAL. FUND
VARIANCE
FAVORABLE
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes .............................................. $ 17,818,023 $ 17,532,540 $ (285,483)
Licenses And Permits ............................... 1,221,462 1,234,753 13,291
Intergovernmental Revenues 1,751,376 1,575,912 (175,464)
Charges For Services ............................... 886,306 1,001,891 115,585
Fines And Forfeits ................................. 784,539 867,386 82,847
Special Assessments ................................ 0 0 0
Interest ........................................... 368,023 336,838 (31,185)
«+ Miscellaneous Revenues ............................. 151,086 191,041 39,955
TOTAL REVENUES ....................................... $` 22,980,815] $ 22,740,361 $' Z240E454?'
EXPENDITURES
r Current:
General Government ............................... $ 4,409,490 $ 4,209,899 $ 199,591
Security Of Persons And Property ................. 14,294,122 13,551,649 742,473
Physical Environment ............................. 1,344,974 1,157,112 187,862
.,.r Transportation ................................... 0 0 0
Economic Environment ............................. 3,238,369 2,444,899 793,470
Mental And Physical Health 9,736 10,992 (1,256)
Culture and Recreation ........................... 0 0 0
Capital Outlay ..................................... 307,164 318,926 (11,762)
Debt Service:
Principal Retirement ............................. 43,803 43,802 1
Interest & Fiscal Charges„ 27,714 27,713 1
TOTALEXP,ENDITURES .:: $ 23,675,372:: $::21., 64,992
EXCESS (DEFICIENCY) OF REVENUES'••
OVER EXPENDITURES .................................... $ (694,557) $ 975,369 $ 1,669,926
OTHER FINANCING SOURCES (USES)
r
Proceeds Of Long-Term Debt ......................... $ 0 $ 694 $ 694
Operating Transfers In ............................. 55,956 55,956 0
Operating Transfers (Out) .......................... (664,715) (672,125) (7,410)
" Sale Of General Fixed Assets ....................... 0 (589) (589)
TOTAL',OTHER FINANCING SOURCES (USES) ........'......... $ (608,759) $ (616,064) $: (74305)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,303,316) $ 359,305 $ 1,662,621
FUND BALANCE JANUARY 1 ............................... 1,962,116 1,618,766 (343,350)
Residual Equity Transfers In ....................... 0 0 0
Residual Equity Transfers (Out) .................... 0 0 0
FUND;BALANCE':DECEMBER 31 ........>...... ......:
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
7
City of Renton 1992 CAFR '
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 2 of 4 '
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual '
Totals for Year Ended December 31, 1991
SPEGIAL, tEYENIJE. FUND TXPES
VARIANCE
FAVORABLE '
BUDGET ACTUAL <UNFAVORABLE>
REVENUES '
Taxes .............................................. $ 12,408,359 $ 12,846,617 $ 438,258
Licenses And Permits ............................... 10,000 24,050 14,050
Intergovernmental Revenues ......................... 1,503,464 1,316,770 (186,694) ,
Charges For Services ............................... 525,201 608,904 83,703
Fines And Forfeits ................................. 13,700 17,306 3,606
Special Assessments ................................ 0 0 0
Interest ........................................... 213,200 251,715 38,515 '
Miscellaneous Revenues .... 382,903 423,557 40,654
_
TOTAL REVENUES ....................................... S `15,056,827 $ 15,488,919' ' $ 432,092
EXPENDITURES '
Current:
General Government ............................... $ 1,439,725 $ 1,397,940 $ 41,785
Security Of Persons And Property ................. 0 0 0
Physical Environment ............................. 0 0 0 '
Transportation ................................... 5,677,619 3,074,076 2,603,543
Economic Environment ............................. 628,930 596,874 32,056
Mental And Physical Health ....................... 0 0 0
Culture and Recreation ........................... 4,466,516 4,291,090 175,426 '
Capital Outlay ..................................... 6,248,600 4,544,283 1,704,317
Debt Service:
Principal Retirement ............................. 0 0 0
Interest & Fiscal Charges0 0 0
.. ....
TOTAL EXPENDITURES .....:..... ..........:.:......:... $ 18,461,390 '$ 130904,263 $ '4,557,127
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (3,404,563) $ 1,584,656 $ 4,989,219
OTHER FINANCING SOURCES (USES) '
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0
Operating Transfers In ............................. 741,238 741,238 0 '
Operating Transfers (Out) .......................... (452,896) (482,575) (29,679)
Sale Of General Fixed Assets .. ... 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) .......:... $> 288;342 258,663..._: E_. ...:x29,679 ;
EXCESS (DEFICIENCY) OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (3,116,221) E 1,843,319 $ 4,959,540
FUND BALANCE JANUARY 1 ............................... 4,268,504 4,250,522 (17,982)
Residual Equity Transfers In ....................... 0 0 0 t
Residual Equity Transfers (Out) 0 0 0
FUND'BALANCE 'DECEMBER '31 S1,1S2 �83 $ 6, 93,841. ::: S 4,941,558
THE ACCOMPANYING NOTES ARE AN
t
8 ,
City of Renton 1992 CAFR
Page 3 of 4
DEBT 'SERVICE)`FUND 'TYPES CAPITAL PROJECTS FUND TYPES
VARIANCE VARIANCE
FAVORABLE FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE>
$ 2,530,935 $ 2,489,973 $ (40,962) $ 517,624 $ 548,285 $ 30,661
0 0 0 1,955,000 2,077,755 122,755
0 0 0 7,115,835 1,478,111 (5,637,724)
0 0 0 1,000 527 (473)
0 0 0 0 0 0
1,578,000 1,739,087 161,087 0 0 0
708,000 742,241 34,241 285,200 311,318 26,118
_ 0 0 0 1_,846,506 1,826,868 (19,638)
w+ $ 4,816,935 $ '4,771,301 $ 154,366 $ 11,721,165 $ 6,242,864 $ (5,478,301)'
$ 0 $ 0 $ 0 $ 0 $ 37,165 $ (37,165)
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 7,819,023 2,805,009 5,014,014
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 13,470,763 6,467,816 7,002,947
1,989,481 2,106,341 (116,860) 1,560,069 0 1,560,069
2,298,808 1,769,750 529,058 564,258 200,520 363,738
$ 4,288,289 $ 3,876,091 $ 4;723:198 $ 23,414013 S 9,510,510 1x. ,903 603.;
$ 528,646 $ 1,095,210 $ 566,564 $(11,692,948) $ (3,267,646) S 8,425,302
$ 0 $ 0 $ 0 $ 1,051,050 $ 1,051,050 $ 0
0 0 0 687,740 727,666 39,926
0 0 0 (922,039) (922,039) 0
0 0 0 0 0 0
$ 0 $ 0 $ 0 $ 816,751 $ 856,677 $ 39.it26.
$ 528,646 $ 1,095,210 $ 566,564 $(10,876,197) $ (2,410,969) $ 8,465,228
2,757,523 2,857,272 99,749 11,019,911 10,564,125 (455,786)
0 0 0 746,675 746,675 0
0 0 0 (746,675) (746,675) 0
$ ;;,3,286,169 $ 3,952,482 $ 666,313 $ 143,714 $ ;8,753;
INTEGRAL PART OF THIS STATEMENT
9
City of Renton 1992 CAFR
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 4 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL '
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991 = '
COMPARATIVE TOTALS
(MEMORANDUM ONLY)
VARIANCE
FAVORABLE 1991 '
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES '
Taxes .............................................. $ 33,274,941 $33,417,415 $ 142,474 $27,421,827
Licenses And Permits ............................... 3,186,462 3,336,558 150,096 3,132,604
Intergovernmental Revenues 10,370,675 4,370,793 (5,999,882) 3,572,511 '
Charges For Services .................. 1,412,507 1,611,322 198,815 2,100,453
Fines And Forfeits ................................. 798,239 884,692 86,453 803,176
Special Assessments ................................ 1,578,000 1,739,087 161,087 1,465,954
Interest ........................................... 1,574,423 1,642,112 67,689 1,917,498
Miscellaneous Revenues ............................. 2,380,495 2,441,466 60,971 650,063
TOTAL REVENUES ....................................... $' 54,575,742 ''$49,443,445 $(5,132,297) $41,064,086
. ...... ....... .
EXPENDITURES ,
Current:
General Government ............................... $ 5,849,215 $ 5,645,004 $ 204,211 $ 5,045,540
Security Of Persons And Property ................. 14,294,122 13,551,649 742,473 12,324,533
Physical Environment ..................... 1,344,974 1,157,112 187,862 976,822
Transportation .......................... 13,496,642 5,879,085 7,617,557 6,271,110 '
Economic Environment ............................. 3,867,299 3,041,773 825,526 3,176,411
Mental And Physical Health ....................... 9,736 10,992 (1,256) 10,601
Culture and Recreation ........................... 4,466,516 4,291,090 175,426 4,026,495
Capital Outlay ..................................... 20,026,527 11,331,025 8,695,502 1,926,134 '
Debt Service:
Principal Retirement ............................. 3,593,353 2,150,143 1,443,210 2,876,629
Interest 8 Fiscal Charges ........................ 2,890,780 1,997,983 892,797 2,036,716
TOTAL EXPENDITURES ................................... S 69,839,164 $49,055,856 $20,783,308 '' $38,670,991 '
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $(15,263,422) $ 387,589 $15,651,011 $ 2,393,095
OTHER FINANCING SOURCES (USES) '
Proceeds Of Long-Term Debt ......................... $ 1,051,050 $ 1,051,744 $ 694 $ 3,217,481
Operating Transfers in ............................. 1,484,934 1,524,860 39,926 546,835
Operating Transfers (Out) .......................... (2,039,650) (2,076,739) (37,089) (1,217,876)
Sale Of General Fixed Assets ..... .. .. 0 (589) (589) 11,471
TOTAL OTHER FINANCING SOURCES''(USES) ............ $ 496,334 $...:.71 4 276 $ 2,942 $ 2,557,911 '
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER ,
EXPENDITURES AND OTHER FINANCING USES ................ $(14,767,088) $ 886,865 $15,653,953 $ 4,951,006
FUND BALANCE JANUARY 1 ............................... 20,008,054 19,290,685 (717,369) 14,336,543
Residual Equity Transfers In ....................... 746,675 746,675 0 3,411 '
Residual Equity Transfers (Out) .................... (746,675) (746,675) 0 (275)
FUND BALANCE DECEMBER 31 ............................. $ 5,24A,966 .S 21,377550 [ r93b584
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
10 '
City of Renton 1992 CAFR
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY Page 1 of 1
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
PROPRIETARY FUND:TYPES FIDUCIARY COMPARATIVE TOTALS
INTERNAL FUND TYPE (MEMORANDUM ONLY)
ENTERPRISE SERVICE PENSION TRUST 1992 1991
OPERATING REVENUES:
Charges for Services $21,226,806 $ 4,426,827 $ 0 $25,653,633 $21,755,847
Fire Insurance Premiums ........................ 0 0 44,536 44,536 52,895
Property Taxes ................................. 0 0 228,000 228,000 206,000
Interest Revenue ............................... 0 0 149,719 149,719 185,264
Other Operating Revenue ........................ 449,709 92,782 0 542,491 256,086
.r
TOTAL OPERATING REVENUE .. ....................... $21,676,515 S 4,519,609 $ ''422,255 $26,618,379 $22,456,092'>
OPERATING EXPENSES:
Operations and Maintenance ..................... $13,660,346 $ 616,084 $ 0 $14,276,430 $12,909,654
Benefit Payments ............................... 0 2,606,585 314,066 2,920,651 2,772,297
Professional Services .......................... 0 201,918 0 201,918 215,322
Administrative and General ..................... 1,279,757 213,345 2,770 1,495,872 1,229,175
Insurance ...................................... 11,021 1,535,915 0 1,546,936 988,134
Taxes .......................................... 1,879,379 0 0 1,879,379 1,623,112
Depreciation ............. .. .. ... 2,057,498 347,374 0 2,404,872 2,272,241
TOTAL OPERATING EXPENSES ......................... $18,888,001 S 5,521,221 $ 316,836; $24,726 058 $22,009,935
OPERATING INCOME (LOSS) .................... $ 2,788,514 S(1,001,612) $ 105,419 $ 1;892,321_ $ 446,157,
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 722,553 $ 89,136 $ 0 $ 811,689 $ 1,083,027
Gain (Loss) on Sale of Assets .................. 0 12,118 0 12,118 2,112
Other Non-operating Revenue .................... 108,424 18,732 0 127,156 131,032
Interest Expense ............................... (1,582,516) (46,414) 0 (1,628,930) (1,705,366)
Arbitrage Expense .............................. (520) (176) 0 (696) (723)
Amortization of Debt Discount and Expense ...... (55,810) (19289) 0 (57,099) (52,885)
NON-OPERATING:`REVENUE NET 'OF'EXPENSES ............ $ (807;869) $ T2,107.I: (735,-A2 I( 483
INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... $ 1,980,6451 3 029:305) $ 105,.41
OPERATING TRANSFERS IN .......................... 372,125 300,000 0 672,125 671,041
OPERATING TRANSFERS OUT .......................... 0 (110,000) 0 (110,000) 0
NET INCOME (LOSS)'BEFORE''EXTRAORDINARY-"ITEM S Zi35ZJ70V"if: 9:.:Q
EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 384,077 0 0 384,077 0
4`°395.
::::::: 5...1 968 1693 3 .::.; 739 50.5: ::;;>:S; ;::105»419>:':;<::3:-> "334 b..::::...: >:.......
NET-ANCOME (TOSS)" �. -......::::....:...y ....... : ;Y.. :(.. ....e.:.. .) : ....:.::::
Depreciation Reducing Grant Contributed Capital. 121,331 0 0 121,331 118,765
INCREASE (DECREASE) R RETAiNEO EARNINGS $ 2,090+7124 ( .9►j11Sj.::3 Q$A.
1 �j 1r ,55x438 5:.. 693 160.
RETAINED EARNINGS, JANUARY 1 ..................... $12,502,403 $ 1,809,213 S 2,325,477 S 16,637,093 $15,947,344
Prior Period Corrections - Note 18 ............. 0 0 0 0 0
RETAINED EARNINGS, JANUARY 1, RESTATED ........... $12,$0 ,403.. $ 1 $d9r,�3':s>}i E Y► :..:;:: Q �iQ9 *i 9P 7,3�k:<:
Residual Equity Transfers In (Out) .. 0 0 0
RETAINED EARNINGS, DECEMBER 31 $14,592,427 $ 1Q64,T08: ;<2r0�896 3."1.8093,03..I t 3.b�63�r7193.
CONTRIBUTED CAPITAL, JANUARY 1 ................... S 64,215,527 S 1,035,268 $ 0 $65,250,795 S 63,573,279
.� Capital Grants ............................... $ 1,852,848 S 0 $ 0 $ 1,852,848 $ 478,132
Amortization on Capital Grants ............... (121,331) 0 0 (121,331) (118,765)
Other Contributed Capital .................... 1,531,145 2,924 0 1,534,069 1,318,149
CONTRIBUTED''CAPITAL,''''DECEMBER 31 ....: $67,478,189 $ 1,038,192 $' 0: $68 5.16*:381S65,25.,795:;
FUND EQUITY, bECEMBER 31 ..... ...._ _.....:. :>$82,070,616
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
11
City of Renton 1992 CAFR '
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1992 Page 1 of 4 ,
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1991
PROPRIETARY FUND TYPES
INTERNAL
ENTERPRISE SERVICE
CASH FLOWS FROM OPERATING ACTIVITIES: ,
Cash Received From Customers ................................. $ 20,644,861 $ 0
Cash Received From Other Funds for Goods and Services ........ 352,660 4,428,778
Cash Received From Taxes on Fire Insurance Premiums .......... 0 0 '
Cash Received From Property Taxes ............................ 0 0
Cash Payments to Suppliers for Goods and Services ............ (10,352,318) (4,380,858)
Cash Paid to Other Funds for Goods and Services .............. (2,650,538) (258,791)
Cash Paid to Employees ....................................... (2,412,675) (228,830)
Cash Paid for Taxes .......................................... (1,179,827) 0 '
Cash Paid for Retirees ....................................... 0 0
Interest Revenue ............................................. 0 0
Other Operating Receipts ..................................... 449,302 90,327
Other Non-Operating Receipts ................................. 102,993 37,179 '
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... $ 4,954;458 $ (312,195)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Grants Received .................................... $ 53,678 $ 0 '
Operating Transfers From Other Funds ......................... 364,715 300,000
Operating Transfers To Other Funds ........................... 0 (110,000)
Repayments on Interfund Loans ................................ (101,480) 101,480
NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES .... $ 316,913;
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. $ 3,929,064 $ 310,320
Payments on Bond Issuance and Registration Fees .............. (1,448) (140) '
Proceeds From State Long-Term Loans .......................... 973,241 0
Proceeds From Sale of Equipment .............................. 0 15,336
Acquisition and Construction of Capital Assets ............... (4,889,185) (388,209)
Capital Contributions ........................................ 981,831 0 ,
Capital Grants ............................................... 1,281,828 0
Principal Payments on Bonds .................................. (1,168,980) (106,055)
Interest Payments on Bonds ................................... (1,670,185) (45,406)
Interest Payments on State Long-Term Loans .... ... .. (1,744) 0 '
Residual Equity Transfer Out ....... ..... ... .. 0 0
NET CASH>PRO VID.EO (USED) BY CAPITAL FINANCING.ACTIVITIES g f56ti,578) $ C214,13+'.a
CASH FLOWS FROM INVESTING ACTIVITIES: ,
Proceeds From Sale of Investments ............................ $ 25,897,112 $ 2,788,838
Payments for Investments ..................................... (27,224,095) (2,585,372)
Interest on Investments ...................................... 652,861 113,797
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ''........... $ (674,122) $ 317-263 '
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ........... $ 4,031,671 $ 8234
CASH AND CASH EQUIVALENTS, JANUARY 1 8,451Q03f:, 51864;
CASH ANDCASHEQUIVALENTS, DECEMBER 31 $ 12,482;674 $ 6D2,263
CASH AT THE END OF THE YEAR CONSISTS OF: '
Cash and Cash Equivalents .................................... $ 539,362 $ 602,263
Cash Restricted for:
Deposits ................................................... 20,480 0 '
Revenue Bond Debt Service .................................. 3,905,118 0
Construction Account ....................................... 8,017,714 0
TOTAL CASH AT THE END OF THE YEAR .............................. $ 12,482,6741: $ 60Z.261,
12 '
City of Renton 1992 CAFR
Page 2 of 4
FIDUCIARY COMPARATIVE TOTALS
FUND TYPE (MEMORANDUM ONLY)
PENSION TRUST 1992 1991
$ 0 $ 20,644,861 $ 17,975,709
0 4,781,438 3,393,630
44,536 44,536 52,895
228,000 228,000 206,000
(300) (14,733,476) (13,504,486)
(2,426) (2,911,755) (2,148,299)
0 (2,641,505) (2,422,033)
0 (1,179,827) (1,040,835)
.. (314,066) (314,066) (277,497)
156,433 156,433 169,042
0 539,629 256,136
0 140,172 81,526
$ 112,1771 $ 4,754,440' $ 2`,741,788
r $ 0 $ 53,678 $ 78,936
0 664,715 664,715
0 (110,000) 0
0 0 0
$ «; D; .... 608;393 743,651
$ 0 $ 4,239,384 $ 0
0 (1,588) (11,864)
0 973,241 0
0 15,336 6,356
0 (5,277,394) (5,882,610)
0 981,831 528,861
0 1,281,828 202,266
0 (1,275,035) (1,197,165)
0 (1,715,591) (1,719,629)
0 (1,744) 0
0 0 (3,411)
$ 0;`.:5 X774;:732) 3> (8,077,496):
$ 56,966 $ 28,742,916 $ 36,150,316
(68,540) (29,878,007) (34,765,060)
0 766,658 1,061,152
$ (11,574) $ (368,433) $< 2,446,408
�$ 100,603 $ 4,214,668 $ (2,145,349)
195,215 9,166:087 11,31;4:; 35::::
295,818; $ ;.13,380;:755 $; 9,1.66,087.;
$
295,818 $
1,437,443 $ 1,556,952
r 0 20,480 21,688
0 3,905,118 2,527,639
0 8,017,714 5,059,808
r
r
r 13
City of Renton 1992 CAFR '
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1992 Page 3 of 4
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1991 '
PROPRIETARY FUND TYPES
INTERNAL
ENTERPRISE SERVICE '
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 2,788,514 $ (1,001,612)
Adjustments to Reconcile Operating Income (Loss) '
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... $ 2,073,498 $ 347,374
Other Non-Operating Revenue ................................ 80,120 6,972
(Increase) Decrease in Accounts Receivable ................. (282,040) (15,792) ,
(Increase) Decrease in Interest on Investments ............. 0 0
(Increase) Decrease in Due From Other Funds/Governmental ... 136,364 32,158
(Increase) Decrease in Inventory/Prepaid Items ............. 6,556 (2,933)
Increase (Decrease) in Vouchers/Contracts/Retainage Payable. (1,988) 31,498 ,
Increase (Decrease) in Due to Other Funds/Governmental ..... (7,230) 3,192
Increase (Decrease) in Payables/Other Short Term Liabilities 9,147 (5,655)
Increase (Decrease) in Customer Deposits ................... (1,208) 0
Increase (Decrease) in Deferred Revenues ................... 50,128 0 ,
Increase (Decrease) in Accrued Employee Leave Benefits ..... 102,060 6,451
Increase (Decrease) in Claims Incurred But Not Reported .... 0 288,048
Capital Cost Reported as Operating Expense ................. 537 (1,896)
Total Adjustments ...................................... S 2,165,944 $ 689,417
NET CASH PROVIDED (USED') BY OPERATINGiACTIVITIES .. ...... '...,. $ 4,954,458 $ " (312,195)
r
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers ....................... $ 533,417 $ 0
Fixed Asset Contributed By Other Funds ....................... 26,124 2,925
AssetTrade-In ............................................... 0 17,691
Advance Refunding of Revenue Bonds ...... 4,543,300 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING:ACTIVIT.IES $ 5,;102,841 S' 20,616
THE ACCOMPANYING NOTES ARE AN Ir
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14
City of Renton 1992 CAFR
Page 4 of 4
FIDUCIARY COMPARATIVE TOTALS_
FUND TYPE r (MEMORANDUM ONLY)
PENSION TRUST 1992 1991
r.
$ 105,419 $ 1,892,321 $ 446,157
$ 0 $ 2,420,872 $ 2,288,241
0 87,092 92,760
0 (297,832) (165,595)
6,714 6,714 (16,222)
0 168,522 (70,262)
0 3,623 17,952
44 29,554 4,176
0 (4,038) 9,546
0 3,492 44,317
0 (1,208) (1,502)
0 50,128 (11,385)
0 108,511 32,473
0 288,048 71,132
0 (1,359) 0
$ 6,758 $ 2,862,119 $ 2,295,631
$ 112,177 $. 4; 4';440 S 2;744,788
$ 0 $ 533,417 $ 797,972
0 29,049 0
0 17,691 24,660
0 4,543,300 0
$ 0 $ 5,123,457 $ 822,632''
INTEGRAL PART OF THIS STATEMENT
15
City of Renton 1992 CAFR '
16 '
NOTES TO THE FINANCIAL STATEMENTS
INDEX
NOTE I -SIGNIFICANT ACCOUNTING POLICIES...................................................................................................................18
Table1: Property Tax Levy......................................................................................................................................20
Table2: Fixed Asset Service Life...............................................................................................................................20
Table 3: Employee Leave Payable..............................................................................................................................20
wr
NOTE 2-STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY..........................................................................................21
NOTE3- CASH&INVESTMENTS.......................................................................................................................................21
Table 4: Reconciliation of Cash and Investments by Fund Group........................................................................................21
Table 5: Classification of Investments As of December 31, 1992........................................................................................21
NOTE 4-DEFERRED COMPENSATION.................................................................................................................................21
NOTE 5-RECEIVABLES AND PAYABLES.............................................................................................................................21
Table 6: Receivables and Payables..............................................................................................................................22
Table 7: Interfund Receivables and Payables.................................................................................................................22
Table 8: Interfund Loans/Advances Receivable and Payable.............................................................................................22.
Table 9: Due From Other Governmental Units...............................................................................................................22
r NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS..................................................................................................23
Table 10: Residual Equity Transfers............................................................................................................................23
Table11: Operating Transfers...................................................................................................................................23
NOTE7-FIXED ASSETS.....................................................................................................................................................23
Table 12: Changes in General Fixed Assets...................................................................................................................23
Table 13: Construction Work In Progress.....................................................................................................................23
Table 14: Proprietary Property,Plant&Equipment.........................................................................................................23
NOTE8-PREPAID ITEMS...................................................................................................................................................24
NOTE9-JOINT VENTURES ................................................................................................................................................24
Table 15: Joint Venture Cost Distribution.....................................................................................................................24
Table 16: Financing Contributions&Outstanding Debt....................................................................................................24
Table17: Balance Sheet...........................................................................................................................................24
Table 18: Statement of Revenues,Expenses and Changes in Retained Earnings......................................................................24
Table19: Joint Venture Equity..................................................................................................................................25
NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT BENEFITS.......................................................................................25
Table 20: PERS and LEOFF Information By Plan...........................................................................................................25
am Table 21: PERS and LEOFF Information By System.......................................................................................................26
Table 22: Unfunded Pension Benefit Obligation.............................................................................................................26
Table 23: Fire Pension Ten-Year Funding Progress Data..................................................................................................26
Table 24: Fire Pension Ten-Year Revenues and Expenses.................................................................................................27
.r. NOTE 11 -CONSTRUCTION COMMITMENTS ........................................................................................................................27
Table 25: Construction Commitments..........................................................................................................................27
NOTE 12-LONG-TERM DEBT.............................................................................................................................................27
Table 26: Long Term Debt Additions and Retirements Summary........................................................................................27
Table 27: Outstanding Debt as of December 31, 1992......................................................................................................28
Table28: Pro Rated Debt.........................................................................................................................................29
Table29: Debt Limit Capacities.................................................................................................................................29
Table30: Refunded Bonds .......................................................................................................................................29
.. Table 31: Changes to Refunded Bond Payable ..............................................................................................................29
Table 32: Debt Service Requirement to Maturity............................................................................................................30
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS....................................................................................................30
NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY........................................................................................30
Table 33: Reservations of Fund Equity........................................................................................................................30
Table 34: Unreserved Designated Fund Equity ..............................................................................................................30
NOTE 15 -SEGMENT INFORMATION FOR ENTERPRISE FUNDS..............................................................................................31
Table 35: Segment Information for Enterprise Funds.......................................................................................................31
NOTE 16-LITIGATION.......................................................................................................................................................31
NOTE17-RISK MANAGEMENT ..........................................................................................................................................31
sTable 36: Risk Management......................................................................................................................................31
Table37: Outstanding Claims....................................................................................................................................31
Table 38: Changes in Claims Liabilities.......................................................................................................................32
NOTE 18-PRIOR PERIOD ADJUSTMENTS.............................................................................................................................32
ar
NOTE 19-SUBSEQUENT EVENTS.........................................................................................................................................32
an
,r, 17
City of Renton Notes to The Financial Statement '
CITY OF RENTON NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended December 31, 1992 ,
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES
The City of Renton was incorporated on September 6, 1901 and operates Proprietary Fund Types '
under the laws of the State of Washington applicable to a Non-Charter Proprietary Funds are accounted for on a cost of services or "capital
code city with a Mayor/Council form of government. Renton is served maintenance" measurement focus. This means that all assets and all
by a full-time Mayor and seven part-time Council members,all elected at liabilities (whether current or non-current) associated with their activity
large to four-year terms. The City provides the full range of municipal are included on their balance sheets. Their reported fund equity (net ,
services authorized by State law, together with a Municipal Airport, a total assets) is segregated into contributed capital and retained earnings
Waterworks Utility,a Solid Waste Utility,and a Municipal Golf Course. components. Proprietary Fund operating statements present increases
(revenues and gains) and decreases (expenses and losses) in net total
The accounting and reporting policies of the City of Renton, which assets. The Proprietary Fund measurement focus is upon determination '
conform to generally accepted accounting principles for governments, of net income,financial position,and reporting of cash flows.
are regulated by the Washington State Auditor's Office, Division of
Municipal Corporations. The City's significant accounting policies are Enterprise Funds account for operations that are self-supported through
described in the following notes. user charges. The enterprise is financed and operated like a private
business enterprise, which requires periodic determination of revenues '
THE REPORTING ENTITY earned, expenses incurred, and net income for capital maintenance,
Based on the criteria of Statement No. 14 of the Governmental public policy,management control,and accountability.
Accounting Standards Board (GASB), the City's Comprehensive Annual
Financial Report (CAFR) includes all funds, account groups, agencies Internal Service Funds account for the financing of goods or services
financially '
and boards for which the City is nancially accountable. Financial provided by one department or agency to other departments or agencies
accountability is defined as follows: A primary government has of the City or to other governments.
substantive authority to appoint a voting majority of a component unit's
board; the primary government has the ability to impose its will on a Fiduciary Fund Tvpes '
component unit;the component unit can provide a financial benefit to, or Fiduciary Funds account for assets held by the City in a trustee capacity
impose a financial burden on the primary government; and the or as an agent for individuals, private organizations, other governments,
component unit is fiscally dependent on the primary government. The and other funds. These include Expendable Trust, Nonexpendable
Renton Housing Authority has been excluded because the City neither Trust, Pension Trust, and Agency Funds. City of Renton Fiduciary ,
reviews its budget nor is obligated to finance any of its deficits. The Funds do not include any Expendable or Nonexpendable Trust Funds.
Mayor does appoint members to the Housing Authority Board, but the
Board is fiscally independent of the City. Pension Trust Funds are accounted for in essentially the same manner as
Proprietary Funds. Agency Funds are custodial in nature (assets equal
BASIS OF PRESENTATION-FUND ACCOUNTING liabilities)and do not involve measurement of results and operations. '
The accounts of the City are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. Each Account Groups
fund is accounted for with a separate set of self-balancing accounts that Account Groups are used to establish accounting control over the City's
comprise its assets, liabilities, fund equity, revenues and expenditures or general fixed assets and general long-term debt. The City uses two '
expenses, as appropriate. The City's resources are allocated to and account groups.
accounted for in individual funds according to the purpose for which they
are spent and how they are controlled. The three broad fund categories, The General Fixed Assets Account Group accounts for all fixed assets of
seven generic fund types, and two account groups presented in this the City other than those accounted for in Proprietary Funds. The '
report are described below. General Long-Term Debt Account Group accounts for all long-term debt
of the City except that accounted for in the Proprietary Funds.
Governmental Fund Tvpes
All Governmental Funds are accounted for on a spending or "financial Comparative Data ,
flow"measurement focus. This means that generally only current assets Comparative total data for the prior year has been presented in the
and current liabilities are included on their balance sheets. Their accompanying financial statements in order to provide an understanding
reported fund balance (net current assets) is considered a measure of of changes in the City's financial position and operations. However,
"available spendable resources." Governmental Fund operating comparative data has not been presented by fund type in each of the '
statements focus on measuring changes in financial position, rather than statements since their inclusion would make the statements unduly
net income;they present increases(revenues and other financing sources) complex and difficult to read.
and decreases (expenditures and other financing uses) in net current
assets. Total Columns on Combined Statement
Total columns on the combined statements are presented only to facilitate
The General Fund is the general operating fund of the City. It accounts financial analysis. Data in these columns do not present financial
for all financial resources and transactions except those required to be position, results of operations, or the reporting of cash flows in
accounted for in another fund. conformity with generally accepted accounting principles. The data is
also not comparable to a consolidation. Interfund eliminations have not
Special Revenue Funds account for the proceeds of specific revenue been made in the aggregation of the data.
sources (other than special assessments, and major capital projects) that
are legally restricted to expenditures for specified purposes. BASIS OF ACCOUNTING
Basis of accounting refers to when revenues and expenditures or
Debt Service Funds account for the accumulation of resources for, and expenses are recognized in the accounts and reported in the financial
the payment of, general long-term debt principal, interest, and related statements. r
costs.
Modified Accrual Basis of Accounting
Capital Projects Funds account for financial resources to be used for the The modified accrual basis of accounting is followed in all governmental
acquisition or construction of major capital facilities other than those funds and agency funds. Under the modified accrual basis of
financed by Proprietary Funds. accounting,revenues are recorded when susceptible to accrual, i.e.,both
a
18
City ojRenion Notes to The Financial Statements
measurable and available. Available means collectible within the current first four months of the following year. Copies of the budget are made
period or soon enough thereafter to pay current liabilities. Specific available to the public.
major revenue sources subject to accrual are discussed below.
Transfers or revisions within funds are allowed, but only the City
The portion of Property Taxes receivable at year-end that are received in Council has the authority to increase or decrease a given fund's annual
January for the prior year's levy are recorded as revenue. The budget. This is accomplished by City ordinance. The budget was
remaining balance is not normally expected to be collected within 30 amended two times during 1992. Budget amounts presented in the basic
days after the current period and is, therefore, reported as deferred financial statements include the original amounts, after all transfers and
revenue. Grant revenues from cost reimbursement grants are considered adjustments,as approved by the City Council.
earned and therefore available when the expenditure is incurred, in
accordance with NCGA Statement 2. Interest on investments is recorded Encumbrances
as revenue when earned. Special assessments and charges for services An encumbrance system is maintained to account for commitments
are recorded as revenue when billed and due within 30 days. Revenue resulting from approved purchase orders, contracts, and other
sources which are not considered to meet the measurable and available commitments. Encumbrances remaining at year-end lapse and are
criteria for revenue recognition include licenses and permits, fines and cancelled. Upon request by the department and approval of the City
forfeitures,and other miscellaneous revenues since they are generally not Council, encumbrances may be reappropriated in the following year. At
measurable until received. year-end,the City had encumbrances of$1,644,101.
Under the modified accrual basis, expenditures are recorded when the ASSETS, LIABILITIES AND FUND EQUITY
fund liability is incurred, except for principal and interest on general Cash & Cash Equivalents
long-term debt, which are recorded when due. Purchases of fixed assets All highly liquid investments (including restricted assets)with a maturity
out of Governmental Funds are treated as expenditures during the year of three months or less when purchased are considered cash equivalents.
incurred and the assets are capitalized in the General Fixed Assets Included in this category are all funds invested in the Local Government
Account Group. Long-term liabilities, including vacation pay not Investment Pool and Municipal Investors Account. Excluded from this
currently due and payable, are accounted for in the General Long-Term category are cash balances held by Fiscal Agents since the City does not
Debt Account Group,except for long-term liabilities accounted for in the have discretionary use of these funds.
Proprietary Funds.
Investments
Accrual Basis of Accounting The City of Renton invests all short-term cash surpluses. A Surplus
The accrual basis of accounting is followed in all Proprietary Funds and Bank Balance Fund is maintained to account for these residual
the Pension Trust Fund. Revenues are recognized when earned and investments and earnings are allocated to the general fund. Investments
expenses are recognized when incurred. are also held separately by several of the funds with interest earned
directly for the benefit of each fund. Investments are reported on the
The revenues of the Waterworks and Solid Waste Utilities, which are financial statements at cost or amortized cost which approximates market,
based upon service rates authorized by the City Council, are determined except for the assets held in the deferred compensation program which
by monthly billings to customers.Revenues of the Golf Course are based are valued at market. Washington State statutes provide for the City to
on user fees,and Airport revenue is based on lease agreements. Earned hold investments consisting of obligations of the federal government,
but unbilled revenues at year-end are accrued and reported in the repurchase agreements,prime banker's acceptances, and time certificates
financial statements. Fixed asset purchases are capitalized, and long- of deposit issued by Washington State depositories that participate in the
term liabilities are accounted for in the appropriate funds. Washington State Public Depository Protection Pool (WPDPC). The
WPDPC is a multiple financial institution collateral pool administered by
BUDGETS AND BUDGETARY ACCOUNTING the Washington Public Deposit Protection Commission. Additional
The City of Renton budgets its funds in accordance with the Revised deposit and investment information is presented in Note 3.
Code of Washington (RCW) 35A.33. In compliance with the Code,
annual appropriated budgets are adopted for the General, Special Inventories
Revenue, Debt Service and Capital Projects Funds. Any unexpended Inventories carried in Proprietary Funds are valued at average cost which
appropriations lapse at the end of the fiscal year. For Governmental approximates the market value. The inventory in the Waterworks Utility
Funds, there are no substantial differences between the budgetary basis Fund is charged out at average cost plus a 20% handling fee when
and generally accepted accounting principles. Budgetary accounts are issued, and the inventory in the Equipment Rental Fund is issued at
integrated in fund ledgers for all budgeted funds, but the financial average cost. A physical count is taken at year-end in both funds.
statements include budgetary comparisons for annually budgeted Governmental Funds use the purchase method whereby inventory items
Governmental Funds only. Budgets established for Proprietary and Trust are considered expenditures when purchased. The amount outstanding at
Funds are "management budgets," and are not legally required to be year-end is immaterial and is, therefore, not included on the balance
reported. sheet.
Annual appropriated budgets are adopted at the fund level. Subsidiary Propertv Tares Receivable
revenue and expenditure ledgers are used to compare the budgeted The County Finance Director acts as an agent to collect property taxes
amounts with actual revenues and expenditures. As a management levied in the county for all taxing authorities. Taxes are levied annually
control device,the subsidiary ledgers monitor expenditures for individual on January 1 on property value listed as of the prior August 31.
functions and activities by object class.
Assessed values are established by the County Assessor at 100% of fair
The City of Renton's budget procedures are mandated by RCW 35A.33. market value. A revaluation of all property is required every four years.
The steps in the budget process are as follows: 1.)Prior to November 1,
the Mayor submits a proposed budget to the City Council. This budget Property taxes levied by the County Assessor and collected by the
is based on priorities established by the Council and estimates provided County Finance Director become a lien on the first day of the levy year
by the City departments during the preceding months, and balanced with and may be paid in two equal installments if the total amount exceeds
revenue estimates trade by the Mayor. 2.) The City Council conducts $10. The first half of real property taxes is due on April 30 and the
public hearings on the proposed budget in November and December. 3.) balance is due October 31. Delinquent taxes bear interest at the rate of
The Council makes its adjustments to the proposed budget and adopts by 12`Xn and are subject to additional penalties if not paid as scheduled.
ordinance a final balanced budget no later than December 31. 4.) The
final operating budget as adopted is published and distributed within the At year-end, property taxes are recorded as a receivable with the portion
not expected to be collected within 30 days offset by deferred revenue.
19
City of Renton Notes to The Financial Statement ,
During the year, property tax revenues are recognized when cash is Table 2: Fixed Asset Service Life
received. Asset Estimated Service Life '
Buildings 25-50 years
The tax rate for general City operations is limited to 53.60 per$1,000 of Non-Building Improvements 25-50 years
assessed value. Of this amount, up to SAS per thousand may be Utility Plant 25-75 years
designated for contribution to the Firemen's Pension Fund if a report by Equipment 3-20 years ,
a qualified actuary indicates that additional funds are required. See Note 7 for additional information.
The payment of principal and interest on Limited Tax(non-voted) Bonds Accumulated Unpaid Vacation and Sick Pav
issued by the City is made from the general levy. Accordingly, the Labor contracts with City of Renton employees call for the accumulation '
issuance of Limited Tax General Obligation Bonds has the effect of of vacation and sick leave. At termination of employment, employees
reducing property taxes available for the general operations of City with the required length of service may receive cash payments for all
government. In 1992, the City levied $3.2157 per $1,000 of assessed accumulated vacation leave to a maximum of 432 hours. Sick leave
valuation for general purposes and S.07347 for the Firemen's Pension termination benefits are based on a percentage of accumulated sick leave
Fund,for a total general tax levy of$3.28917. up to a maximum of 480 hours. The payment is based on current wages '
State law also provides that the City's operating levy may not exceed at termination.
106% of the largest single levy of the past three years. The State Accumulated amounts of vacation leave and related benefits are accrued
Constitution provides that the total of all taxes upon real and personal as expenses when incurred in Proprietary Funds. The current portion of '
property by the State and all taxing entities, including the City, shall not the Enterprise Funds, $23,107, and the Internal Service Funds, $2,046,
in any year exceed 1% ($10 per thousand dollars) of the true and fair is included with the current liability accounts Accrued Wages Payable
monetary value of such property. This limitation may be exceeded upon and Accrued Employee Benefits Payable. In Governmental Funds, only
the approval of 60% of the City voters at an election in which the total the current portion of the yearly accrual (based on last in-first out
vote exceeds 40% of the votes cast at the last preceding general election. formula) left unpaid at the end of the fiscal year is recorded as fund
liability and expenditure. The remainder of the liability is reported in the
For 1992,the City's general tax levy was$3.28917 and the excess levy General Long-term Debt Account Group. This reporting format is in
for Unlimited General Obligation Bonds issued for the construction of compliance with NCGA Statement 4. At year-end, 1992, the
Gene Coulon Memorial Beach Park and Senior Housing was $.40324; a Governmental Funds recorded current liabilities of $191,406 on the
total of $3.69241 per $1,000 on a total assessed valuation of respective balance sheets and a long-term liability for the non-current
$3,131,832,729,per the King County Assessor's 1992 Annual Report. portion of accumulated vacation and related benefits in the amount of
$1,416,482 in the General Long-Term Debt Account Group. The unpaid '
Estimated and actual property tax revenue is compared in the following liability in the Proprietary Funds at December 31 was$164,218.
table:
Accumulated sick leave and related benefits also based on NCGA
Table 1: Property Tax Lev Statement 4 which calls for accrual of Proprietary Fund liabilities and
Estimated Actual Property inclusion of Governmental Fund liabilities in the General Long-Term '
Item 1Property Taxes Taxes Variance Debt Account Group. These amounts at December 31, 1992, were
General Levy $ 10,246,424 S 10,207,371 $ 39,053 $167,141 and $1,646,825 respectively. The following table details the
Excess Levy 1,241,772 1,240,436 1,336 total vacation and sick leave liability:
Totals $ 11,488,196 $ 11,447,807 _1___40,389J
Table 3: Employee Leave Pays le
Assessment Receivable Item Current I Long-Term Total
Unpaid special assessments receivable is reported in three accounts: General Governmental Funds S 191,406 $ 0 $ 191,406
current, delinquent, and deferred. Current assessments are those due General Long-Term Debt 0 3,063,307 3,063,307 '
within one month; delinquent assessments are past due; and deferred Proprietary Funds 25,153 331,359 356,512
assessments are due beyond one month. Revenue from the assessments Total Leave Benefits S 216,559 S 3,394,666 $3,611,225
is recognized as it becomes current - that is, both measurable and
available to finance expenditures of the current period. Fund Equity-Reserves and Designations '
The City recognized in its reporting that assets are sometimes not
Fixed Asset and Depreciation "available spendable resources" or at times legally available for
The accounting and reporting treatment applied to the fixed assets appropriations, because they are contractually or legally restricted for
associated with a fund are determined by its measurement focus. Fixed some specific future use. When this is the case,as for example with debt '
assets acquired in Governmental Funds are accounted for as expenditures service, fund equity is "reserved". However, when management sets
in the fund when the assets are purchased and are capitalized in the aside portions of fund equity based upon tentative future plans or for
General Fixed Asset Account Group at historical cost. Where historical administrative convenience, these restrictions are reported as
cost is not known, assets are recorded at estimated historical cost. "designations" of unreserved fund equity. Designation is not used in '
Donated assets are valued at estimated fair market value at the time proprietary Funds.
received. Infrastructure such as roads, bridges and curbs are considered
public property and are not capitalized in the General Fixed Assets Direct Charges/Credits to Enterprise Funds Retained Earnings
Account Group.Governmental Fund assets are not depreciated. The Airport Fund has credited $121,331 directly to retained earnings,
representing the retirement of Federal and State contributed capital for '
Fixed assets of the Enterprise and Internal Service Funds are recorded at the current year.
historical cost, and are accounted for in their respective funds. Capital
contributions are recorded as contributed capital and the assets are. Risk Managetnew and Risk Retention
capitalized at their estimated fair market value at the date of donation. It is the City of Renton's policy to self-insure first level coverages for '
properly, liability, worker's compensation, and employee medical
Fixed assets used by Proprietary Funds are depreciated and else coverages. For mid-level and catastrophic losses the City purchases both
accumulated depreciation is reported in Proprietary Fund Balance Sheets. commercial insurance coverage, and reserves the right to invoke
Annual depreciation is recorded as an expense of the fund. Depreciation provisions of RCW 35A.31.060, which allows cities to levy a non-voted
is computed using the straight line method over estimated service lives as property tax increase to pay for uninsured claims.
follows:
20
Citv of Renton Notes to The Financial Statements
Every year the City's external risk management consultant recommends a Investments are also held separately by several of the funds with interest
cash level at which Renton's loss fund should be maintained. For 1992 earned directly for the benefit of each fund.
Arthur J. Gallagher set this amount at $500,000. As of December 31,
1992 the Insurance Fund's unreserved retained earnings totaled DEPOSITS
$208,391. See Note 17 for additional information. All deposits are entirely covered by Federal Depository Insurance
(FDIC) or by collateral held in a multiple financial institution collateral
NOTE 2-STEWARDSHIP,COMPLIANCE,AND pool administered by the Washington Public Deposit Protection
ACCOUNTABILITY Commission (WPDPC). The FDIC insures the City's deposits up to
There have been no material violations of finance related legal or $100,000 and the WPDPC insures amounts over $100,000. The
contractual provisions. WPDPC provides for additional assessments against members of the pool
on a pro rata basis. Accordingly, the deposits covered by WPDPC are
EXCESS OF EXPENDITURES OVER APPROPRIATIONS considered to be insured and classified as risk category 1. The City had
The City's Arterial Street Fund had excess expenditures of$6,445. The $42,325,871 in cash and investments at year-end which consisted of
City budgets its ending fund balance, therefore expenditures do not $11,469,435 in the State Investment Pool and Municipal Investors
exceed appropriations at the fund level. Account, $2,211,000 in certificates of deposit, $28,686,938 in other
investments, and $15,732 in petty cash.. All cash in excess of current
NOTE 3- CASH &INVESTMENTS requirements was invested at year-end with bank deposits reporting a
The City maintains an investment pool available for use by all funds. negative cash balance of$57,234. Table 4 displays the breakdown of
Interest earned on pooled investments is recorded in the General Fund. cash and deposits by type of deposits and by fund type.
" Table 4: Reconciliation of Cash and Investments b Fund Group
State Subtotal Cash Total All Total Cash
Investment &Cash Restricted Cash&Cash Restricted &
Fund GroupCash Pool/MIA* uivalents Cash uivalents Investments Investments Investments
General $ (1,430,866) $ 3,867,769 $ 2,436,903 $ 0 $ 2,436,903 $ 0 $ 0 $ 2,436,903
Special Revenue 137,869 1,399,500 1,537,369 0 1,537,369 4,734,899 0 6,272,268
Debt Service 97,895 1,484,000 1,581,895 0 1,581,895 2,205,000 0 3,786,895
Capital Projects 82,587 3,025,000 3,107,587 0 3,107,587 6,882,103 0 9,989,690
«. Enterprise (335,638) 875,000 539,362 1,001,698 1,541,060 5,594,334 8,017,714 15,153,108
Internal Service 68,096 534,166 602,262 0 602,262 1,430,372 0 2,032,634
Trust&Agency 336,857 284,000 620,8571 01 620,8571 2,033,516 01 2,654,373
Total $ 1,043,200) $ 11,469.435 $ 10,426,235 $ 1,001,698 $ 11.427,933 $ 22,880,224 $ 8,017,714 $ 42 325 871
* Municipal Investment Account
INVESTMENTS
Washington State statutes provide for the City to hold investments NOTE 4-DEFERRED COMPENSATION
consisting of obligations of the federal government, repurchase The City offers its employees a deferred compensation plan created in
agreements, prime banker's acceptances, and time certificates of deposit accordance with Internal Revenue Code Section 457. This plan is
with authorized Washington State savings and loan institutions. administered by the Hartford Life Insurance Company. The plan,
Additionally, the Firemen's Pension Fund is authorized to invest in available to all City employees, permits them to defer a portion of their
�. mutual funds and obligations of the federal, state, and local government salary until future years. The deferred compensation is not available to
owned public utilities. employees until termination, retirement, death, or unforeseeable
emergency.
All investments are valued at cost or amortized cost, which is
substantially equivalent to market value. Compensation deferred under the plan and all income attributable to the
w.
plan are solely the property of the City of Renton. The City's rights to
The City of Renton's investments are categorized to give an indication of this property are subject only to the claims of the City's general creditors
the risk assumed at year-end. Category 1 includes investments that are until paid to the employee or other beneficiary and are not restricted to
either insured, registered or held by the City or its agent in the City of the benefit provisions under the plan. Deferred compensation plan
+� Renton's name. Category 2 includes uninsured and unregistered investments are recorded at market value, along with the corresponding
investments which are held by the counterparty's trust department or liability in the deferred compensation fund. At December 31, 1992, the
agent in the City's name. Category 3 includes uninsured and market value of the plans' assets were$3,439,581.
unregistered investments which are held by the counterparty's trust
4r. department or agent in the agent's name. At the end of the year,the City It is the opinion of the City's legal counsel that the City has no liability
had no investments in category 3. for losses under the plan but does have the duty of due care that would
be required of an ordinary prudent investor. The City believes that it is
Table 5: Classification of Investments As of December 31. 1992 unlikely that it will use the assets to satisfy the claims of general creditors
trr Carrying Market in the future.
Item Category 1 I Category 2 I Amount Value
US Govt $18,895,591 $107,891 $19,003,482 $19,167,431 NOTE 5-RECEIVABLES AND PAYABLES
Bankers' Accept 7,891,109 7,891,109 7,943,954 Table 6 on the next page details the specific receivables and payables at
Convertible Bonds 220,905 220,905 216,138 December 31, 1992. The City provides reserves for potentially
Corporate Bonds 107,487 107,487 107,400 uncollectible water, wastewater, storm, metro, and solid waste utility
Sub-Total 26,786.700 436,283 27,222,983 27,434,923 charges. At December 31, 1992,these reserve balances were$96,145.
Mutual Funds 1,463,955 1,912,025
Total Investments 1$26,786,700 $436,283 $28,686,938 $29,346,948
21
City of Renton Notes to The Financial Statements ,
Table 6: Receivables and Pavables ,
Special DebtCapital Internal Trust&
Item General Revenue Service Projects Enterprise Service Agency Total
Receivables: '
Taxes $ 330,266 $ 0 $ 43,902 $ 0 $ 0 $ 0 $ 0 $ 374,168
Accounts 1,627,389 6,710 0 0 2,478,893 15,792 366 4,129,150
Special Assess-Current 0 0 606 0 0 0 0 606
Special Assess-Delinq. 0 0 87,984 0 0 0 0 87,984 ,
Special Assess-Deferred 0 0 3,787,952 0 0 0 0 3,787,952
Interest-Special Assess 0 0 10,615 0 0 0 0 10,615
Interest on Investments 1 01 86,9801 45,7141 114,3591 272,0551 23,2691 101,6061 643,983
Total All Fund Types I $ 1,957,655 1 $ 93,6901 S 3,976,7731 $ 114,3591 $ 2,750,9481 S 39,061 1 S 101,9721 $ 9,034,458
Payables:
Matured Bonds Payable S 0 $ 0 $ 55,000 S 0 $ 0 $ 0 $ 0 $ 55,000
Matured Interest Payable 0 0 11,280 0 1,969 0 0 13,249
Accrued Interest Payable 0 0 0 0 286,591 13,617 0 300,208 '
Accrued Wages Payable 0 0 0 0 20,779 1,824 0 22,603
Accrued Benefits Payable 0 0 0 0 2,328 222 0 2,550
Accrued Taxes Payable 917 1,3580 0 59,554 0 0 61,829
Total All Fund Types $ 917 S 1,358 $ 66,280 _$ _01 $ 371,2211 $ 15,663 S 0 $ 455,439
INTERFUND RECEIVABLES AND PAYABLES '
Table 7: Interfund Receivables and Pavables INTERGOVERNMENTAL RECEIVABLES
Item Due From Due To At December 31, 1992, the receivables from other governmental units ,
General Fund S 12,114 S 178,026 included federal, state and local grants receivable of 5832,762, and
Special Revenue Funds: several miscellaneous receivables amounting to $730,266. Included in
Park Fund 11,363 0 these miscellaneous receivables are: $399,214 from Bryn Mawr-
Street Fund 27,771 0 Lakeridge Water& Sewer District for their 25% share of a water joint
Total Special Revenue Funds 39,134 0 facilities project; $247,818 from King County (Open Space funds -
Debt Service Funds: $88,092, surface water utility projects - $143,651,transportation study -
1983 Unlimited GO 2,837 0 $7,628, and vehicle auction proceeds - $8,447); S8,215 from Sea-King
Miscellaneous Debt Service 15,703 0 County Department of Public Health for hazardous waste program; and
1989 Unlimited GO 2,128 0 $75,019 from Valley Communications Center representing the balance of '
Total Debt Service Funds 20,668 0 a loan advanced to Valley Com in 1985. See Note 9 for the details of
Capital Project Funds: this loan transaction.
Open Space 0 4,980 '
Table 9: Due From Other Governmental Units
Municipal Facilities Construction 15,604
Capital Improvement Fund 0 10,100 Source Amount
Total Capital Project Funds 15,604 15,080 rants:
Enterprise Funds: US Department of Justice $ 55,585
Waterworks Utility Fund 2,076 24,360 US Department of Agriculture 142,132 '
Airport Fund 0 0 US Department of Transportation 161,058
Solid Waste Utility Fund 1,384 1,405 US Department of Housing&Community
Golf Course Fund 131,215 0 Development 50,858
Total Enterprise Funds 134,675 25,765 WA Department of Transportation 143,069
Internal Service Funds: WA Department of Natural Resources 38,353
Equipment Rental Fund 0 100 WA Department of Ecology 241,707
Insurance Fund 0 3,224 Subtotal-All Grants 832,762
Total Internal Service Funds 0 3,324 Other Governmental Receivables:
Total All Fund Types $ 222,195 S 222,195 Bryn Mawr-Lakeridge Water&Sewer District 399,214
King County 247,818
INTERFUND LOANS/ADVANCES RECEIVABLE&PAYABLE Valley Communications Center 75,019
The following is a reconciliation of the $103,099 interfund loans and Sea-King County Department of Public Health 8,215
advances of which$9,209 is current and$93,890 is long-term: Total Due From Other Governmental Units $1,563,028
Table 8: Interfund Loans/Advances Receivable and Payable INTERGOVERNMENTAL PAYABLES
Interfund Loans/Advances A total of$746,821 was recorded as due to other governmental units at
December 31, 1992. This included: 1.) $27,354 for Narcotics grant
Fund Receivable Pa able reimbursement to the agencies as follows: $9,669 to the City of
General Fund $ 54,000 $ 0 Tukwila; $8,069 to the City of Auburn; and $9,616 to the City of Kent; .�
Special Revenue Funds: 2.) $709,007 is the portion of Municipal Court's outstanding receivables
Community Dev Block Grant 0 50,000 for bail due to the State; 3.) $1,040 to So. King County Multi-Service
Internal Service Funds: Center for Van Go expenses;4.)$9,420 to Washington State Department
Insurance Fund 49,099 0 of Community Development for current portion due on Public Works
Enterprise Funds: Trust Fund loans.
Golf Course 0 49,099
Agency Funds:
Advance Travel 0 1 4,000 ..
Total All Fund Groups S 103,099 1 S 103,099
22
City of Renton Notes to The Financial Statements
NOTE 6-OPERATING AND RESIDUAL EOUITY TRANSFERS Table 12: Changes in General Fixed Assets
.. Interfund transfers are classified as either operating transfers or residual Beginning Ending
equity transfers. Operating transfers are accounted for as "other Asset Balance Additions Deletions Balance
financing sources or uses" and are included in the operating statements. Land $ 9,019,314$4,806,498 $ 0 $13,825,812
Residual equity transfers are direct additions or subtractions to fund Building 18,196,149 1,180,987 0 19,377,136
balance/fund equity. Contributions to Proprietary Funds are recorded as Non-Bldg Improv 13,587,647 68,789 2,032 13,654,404
contributed capital in those funds. The following interfund transactions Equipment 4,929,927 1,325,010 492,842 5,762,095
occurred in 1992: Const in Progress 106,554 1,348,752 1,332,913 122,393
Table 10: Residual Ejuitj Transfers Total S 45,839,591,S 8,730,036,$1,827,787,$52,741 8,10
Municipal Fixed assets of Proprietary Funds are capitalized in their respective
Item I Facilities balance sheets. These assets are stated at cost, estimated cost when
Transfers In: $ 746,675 original cost is not available,or fair market value at the time received in
the case of contributions. Depreciation expense is charged to operations
Transfers Out: of Proprietary Funds to allocate the cost of fixed assets over their
Capital Im ry Fund $ 746,675 estimated useful lives, using the straight-line method with useful lives of
3 to 75 years.
Table 11: Operating Transfers The City's policy is to capitalize net interest on Proprietary Fund
General Impact Capital construction projects until completion of the project. The amount of
General Gov't Funds Fund Miti-anon Projects Total capitalized interest equals the difference between the interest cost
Transfers In: $ 55,9561$741,238 IS 727.6661$1,524,860 associated with the tax exempt borrowing used to finance the project and
the interest earned from temporary investment of the debt proceeds.
Transfers Out: Capitalized interest is amortized on the straight-line basis over the
Parks Fund $ 0 $ 0 $ 16,600 $ 16,600 estimated useful life of the asset. For 1992, interest costs incurred on
Arterial Street 0 0 340,000 340,000 construction projects in Proprietary Funds were not material.
Impact Mitigation 0 0 58,088 58,088
Cable Comm 10,387 0 57,500 67,887 Table 13: Constriction Work In Pro ress
Open Space 0 333,413 0 333,413 1993Estimated
Municipal Facilities 455569 131,825 0 177,394 Cost To Commit- Total
Capital Improvement 0 166,000 245,231 411,231 Project Date I mens Cost
Waterworks Utility 0 0 10,247 10,247
Insurance Fund 0 110,000 0 110,000 arco Theater Improvements $ 1,139$ 570 $ 1,709
Total Tranfers Out IS 55,9561S 741,2381S 727,666 IS1,524,860 Cedar River Parking 57,332 6,385 63,717
edar River Park Maintenance Shop 9,698 20,302 30,000
Golf lnsurance Council Chambers/Audio-Visual 3,544 99,946 103,490
Proprietary Funds Course I Fund I Total Municipal Space Needs 50,680 428,536 479,216
Transfers In: 1 $372A25J$300.0001 $ 672,125 Total $ 122,393 $555,739 $ 678,132
Transfers Out:
General Fund $372,12-51$300,0001 $ 672,125 Table 14, below, provides a summary of Proprietary Fund property,
plant,and equipment as of December 31, 1992.
NOTE 7-FIXED ASSETS
General Fixed Assets are long lived assets of the City as a whole. When CONTRIBUTED CAPITAL RETIREMENT
,. purchased, leased, or constructed, such assets are recorded as The Airport Fund has $5,602,407 of contributed capital which includes
expenditures in the Governmental Funds and capitalized in the General $5,462,807 of Federal, $53,775 of State, and $85,825 of private sources
Fixed Assets Account Group. All fixed assets are valued at historical which is being retired on an annual basis. The unamonized balance as of
cost, estimated historical cost, or fair market value at time of donation. December 31, 1992 was$2,055,690.
No depreciation has been provided on general fixed assets, nor has
interest been capitalized. Infrastructure assets are considered public The Airport is the only fund which amortizes its contributed capital at
property and are not accounted for in the General Fixed Assets Account this time. The Waterworks Utility Fund has $65,417,499 of contributed
Group. At the end of 1992 five projects comprised the Construction capital. The Equipment Rental Fund has $1,038,192 of contributed
Work in Progress. Upon completion, the projects will be capitalized in capital, and the Golf Course Fund has $5,000 of contributed capital.
.. the General Fixed Asset Account Group in their appropriate categories. These funds' contributed capital are not being retired.
Tables 12 and 13 describe the changes in the City's general fixed assets
during 1992 and the Construction Work In Progress at the end of the
year.
Table 14: Proorietary Pro ert , Plant&Equipment
Waterworks Airport Solid Waste Golf Course Total Enterprise Equipment Total Internal
Asset Utility Fund Utility Fund I Rental Service
Land S 2,166,491 $ 784,080 S 0 $ 2,683,200 $ 5,633,771 S 0 $ 0
Buildings 3,323,753 353,516 0 460,178 4,137,447 0 0
Equipment 3,802,314 28,197 14,689 119,252 3,964,452 3,659,859 3,659,859
Other Improvements 87,460,981 7,551,646 0 1,427,991 96,440,618 0 0
Construction Work in Progress 6,437,662 454,486 0 8,047 6,900,195 0 0
Total Assets $ 103,191,201 $ 9,171,925 $ 14,689 S 4,698,668 $ 117,076,483 S 3,659,859 S 3,659,859
Less Accumulated Depreciation 20,783,208 4,973,706 5,223 376,229 26,138,366 2,100,765 2,100,765
Net Property,Plant,&E2ui2ment IS 82,407,993 IS 4,198,219 $ 9,466 IS 4.322,439 IS 90,938,117 IS 1,559,094 IS 1,559,094
23
City of Renton Notes to The Financial Statements ,
NOTE 8-PREPAID ITEMS '
The Airport Fund has recorded $3,938 of prepaid items at December 31, The Interlocal Agreement was amended in February 1985, when the four
1992. This amount represents prepaid insurance charges to be expensed participating cities agreed to contribute the financing for construction of a
in 1993. The Insurance Fund has recorded $3,000 of prepaid items at new Valley-Com facility. The total amount of financing needed was
December 31, 1992. This amount represents a revolving fund distributed among the four cities, based on dispatchable call statistics for
established to pay claims by our insurance broker. the year 1984, as shown below. The cities will be repaid from Valley- '
Com's revenue. The obligation is secured by a ten-year promissory
NOTE 9-.iOINT VENTURE note, bearing 8.75% interest. The City of Renton's portion of the loan
The "Valley Communications Center" was established August 20, 1976, was advanced from the Equipment Rental Fund, and repayment will be
when an Interlocal Agreement was entered into by the four participating received into this fund. Following is a schedule of financing '
municipal corporations, including the cities of Renton, Kent, Auburn, contributions, and outstanding debt for the building loan at 8.75%
and Tukwila. The agreement is sanctioned by the provisions and terms maturing 4/1/95.
of the "Interlocal Cooperation Act" pursuant to RCW 39.34. The initial
duration of the agreement was five years, and thereafter is automatically Table 16: Financing Contributions&Outstanding Debt
extended for consecutive two year periods, unless terminated by one or Building Loan Building Loan
more of the participating cities. Any such termination must be in writing Authorized I Outstanding
and served upon the other cities on or before July 1 in any one year, and Citv %of Total I Amount 1 1/1/92 1 Redeemed 1 12/31/92
such termination shall then become effective on the last day of such year. Renton 31.81% $245,533 $103,949 $28,930 $75,019 '
Kent 28.84% 222,609 94,244 26,229 68,015
The purpose of the joint operation, hereafter referred to as Valley-Com, Auburn 26.38% 203,621 86,205 23,992 62,213
is to provide improved consolidated emergency communications Tukwila 12.97% 100,112 42,383 11,796 30,587
(dispatch) services for police, fire, and medical aid, to the four Total 100.00% S771,875 5326,781 $90,947 $235,834
participating cities and to the several subscribing agencies,which include '
King County Fire Districts#1, #20, #40, #43, #46, #47; City of Pacific
Police and Fire Departments; City of Algona Police Department; and Tables 17 and 18 show the condensed financial position as of December
Valley Medic Units. Separate agreements between Valley-Com and the 31, and the results of operation and changes in retained earnings for the
subscribing agencies have been executed, which set forth conditions of year ended 1992.
services and rates charged. '
Table 17: Balance Shea
The allocation of prorated financial participation among the four Item Amount
participating cities is the percentage of dispatched calls attributed to each Assets:
jurisdiction compared to the total estimated dispatched calls, for the Current Assets S 1,543,510
current twelve month period ending December 31. The percentages are Pro city, Plant and Equipment 1,082,566
applied to the current approved budget, less revenue from all other Total Assets S 2,626,076
sources. Distribution of current year net income is based on the same Liabilities and Funduit
percentages. The 1992 cost distribution for the four participating cities y '
was as follows: Current Liabilities $ 315,751
Long-Term Liabilities 136,665
Total Liabilis0 452,416
Table 15: Joint Venture Cost Distribution
Retained Earninn gs 2,173,660 '
Citv Dis atchable Calls % of Total 1 1992 Assessments Total Fund Equity 21173,660
Renton 50,500 27.57% $ 669,550 Total Liabilities and Fund Equity $2,626,076
Kent 53,833 29.38% 713,507
Auburn 40,386 22.04% 535,251 Table 18: Statement of Revenues,Expenses and Changes in Retained
Tukwila 38,500 21.01%, 510,237 Eamin s
Total 183,219 100.00% $2.428.545 Item Amount
Operating Revenues:
Valley-Com is governed by an Administration Board, composed of the ,
Intergovernmental Charges $2,725,321
Mayors or designated representatives from the four participating cities of Miscellaneous '
Renton, Kent, Auburn, and Tukwila. The Administration Board is Transfers In 125,134
responsible for the following functions: 1.) Budget review and
recommendations to the legislative bodies of the participating cities, and Total Operating Revenues 2,856,490
budget adoption after each legislative body has approved the required O Nett OOperperaatin enses g Income 65 11 2,20 ,230,260
'
financial participation for the ensuing year; 2.) Approves appointment n
fi
and/or discharge of the Director; 3.) Approves personnel policy and Non-Operating Revenues(Expenses):
makes final decisions on all major policy changes; 4) Reviews and Interest and Mise.Revenues 47,748
approves all contracts. Interest Expense 25,663 '
Total Non-0 erating Revenues(Expenses) 22,085
In addition, an Operations Board provides direction, and consists of two Net Income(Loss) 673,345
members of each participating city's Public Safety Departments, Retained Earnings at Beginning of Year 1,500,315
including the heads of such departments or their designees. The Retained Earnings at End of Year $2,173,660
Operations Board performs the following functions: I.) Oversees the
operation of Valley-Com, and advises and makes recommendations to the The share of equity belonging to the four participating cities is shown in
Administration Board;2.)Makes recommendations on Director selection; Table 19 on the next page. Liabilities are the responsibility of the four
3.) Presents proposed policies and budgets to the Admin. Board; 4.) participating cities in direct proportion to their equity position.
Approves disbursement of funds by the Director.
The Director presents a proposed budget to the Operating Board on or ."
before August 15 of each year. Said budget is then presented to the
Admin. Board by September 1 of each year. The Admin. Board can
make changes to the proposed Valley-Com Budget as it finds necessary,
but final approval falls to the legislative body of each participating city,
in accordance with the provisions of the Interlocal Agreement.
24 ..
City of Renton Notes to The Financial Statements
Table 19: Joint Venture Equity Retirement Systems; and 3.) The Firemen's Pension System established
Item I Renton I Kent I Auburn Tukwila I Total and administered by the City according to State statute. The City's total
Equity 12/31/91 $461,222 $455,199 $380,658 $203,086 $1,500,165 Payroll for all employees was$20,675,645 for the year ended December
Prior Period Ad'. 43 43 38 26 150 31, 1992.
Adj Equity I/1/92 461,265 455,242 380,696 203,112 1,500,315
1992 Increase 185,641 197,829 148,405 141,470 673,345 The pension benefit obligation presented by each system are standard
Equity 12/31/92 $646,906 $653,071 $529,101 $344,582 $2,173,660 disclosure measures of the present value of pension benefits, adjusted for
the effects of credited projected salary increases and step-rate benefits
% of Equity 29.76% 30.05% 24.34% 15.85%6 100.00% (LEOFF only) estimated to be payable in the future as a result of
%of 1992 Distrib 1. 27.57% 29.38% 22.04% 21.01% 100.00% employee service to date. The measure, which is the actuarial present
value of projected benefits, is intended to help users assess the system's
NOTE 10•PENSION PLAN&OTHER POSTEMPLOYMENT funding status on a going concern basis, assess progress made in
BENEFITS accumulating sufficient assets to pay benefits when due, and make
All of the City's full-time and qualifying part-time employees participate comparisons among systems and employers. The standardized disclosure
in one of the following three defined benefit retirement systems: 1.) method is independent of the actuarial funding method used to determine
Public Employees' Retirement System (PERS); 2.) Law Enforcement contributions to the retirement systems-
Officers and Fire Fighters Retirement System (LEOFF) which are both
established by State statute and administered by the State's Department of
Table 20: PERS and LEOFF Information By Plan
PERS PLAN I PERS PLAN 11 LEOFF PLAN I LEOFF PLAN 11
(Membership prior to (Membership on or (Membership prior to (Membership on or
�r
Item 10/1/77 after 10/l/77) 10/1/7? after 10/1/77
Vesting Requirement:
Service year required for vesting of benefits 5/25/30 5/20* 5 5/20
Retiring age for vesting of benefits 60/55/an age 65/55* 50 58/50
Employee Contribution:
Actual rate @ 12/31/92 6.00% 4.85% 6.00% 7.01%
Actual Amount $ 228,662 S 432,394 S 172,754 $ 352,951
Required rate Q 12/31/92 6.00% 4.98% 6.00% 6.91%
Required Amount S 228,739 S 455,403 $ 172,753 $ 348,283
Employer Contribution:
Actual rate @ 12/31/92 7.29% 7.29% 6.00% 4.21%
Actual Amount $ 297,604 $ 694,904 $ 179,088 $ 222,984
Required rate(g 12/31/92 7.19% 7.19% 6.00% 4.15%
Required Amount $ 274,107 S 643.061 S 179,753 $ 209,171
" Receive reduced benefits.
PUBLIC EMPLOYEE'S RETIREMENT SYSTEM LAW ENFORCEMENT OFFICERS&FIRE FIGHTERS
PERS is a contributory multi-employer cost-sharing retirement system. RETIREMENT SYSTEM
All of the City's non-uniformed employees are covered by this system. The LEOFF system is also a contributory multi-employer cost-sharing
Membership in the system includes elected officials; state and local system for all uniformed law enforcement officers and fire fighters. The
governmental employees; and other public employees. Approximately retirement benefits are calculated as a percentage of final average salary
50% of PERS members are state employees. The system provides based on years of service. Contributions to both systems by employee
retirement benefits at 2% of the final average salary per year of service. and employer are based on actuarially determined requirements and
In 1992, SHB 2947 opened a window for early retirement for PERS 1 established by State statute. The City's contribution in 1992 represents
members. To provide required resources, the employer's annual
contribution rate increased by .02%.
W 25
City of Renton Notes to The Financial Statements '
its full liability under both systems except certain medical and disability cost, and completed transaction method is used in gain or loss
premiums under the LEOFF Plan I, which are considered immaterial. recognition on exchanges of securities. There were no material changes
There were no material changes in benefit provisions, actuarial in any accounting policies in 1992.
assumptions,actuarial funding methods,or other significant facts and the
aggregate effect on the employer's contribution rate. Funding Stains and Progress
The contribution requirement and pension obligation was computed as '
Table 21: PERS and LEOFF Information By System part of an actuarial valuation performed as of December 31, 1992.
Item(in million dollars)_ PERS LEOFF Significant actuarial assumptions used in the valuation of both include:
City Payroll Covered $ 12.756 $ 7.919 1.) 8% investment return, compounded annually,: 2.) 6.25% salary
City's Contribution as %of Covered Payroll 7.78% 5.08% increase annually,5% due to inflation and 1.25% for merit increase; 3.) '
Empl Contrib as %of Covered Payroll 5.18% 6.64% 0% growth in fire insurance premium; 4.) 8% annual increase in
Total Payroll Covered By System $ 4,598 $ 484.7 property tax; and 5.) 5% increase in consumer price index. There were
City's Actuarially Determined Contrib Req no material changes to the benefit provisions, actuarial funding method
as a %of Total Contribution Requirement 0.28% 1.64% or other significant factors that affect contributions required. ,
Total Pension Benefit Obligations S 8,881 $ 3,942
Less Net Assets Available For Benefits ,938 3,051 Unfunded Pension Benefit Obligation
Unfunded Actuarial Present Value Of The standardized measure of the unfunded pension benefit obligation as
Accumulated Plan Benefits $ 943 $ 891 of December 31, 1992,is as follows:
'The system does not make separate measurements of assets and pension Table 22: Unfunded Pension Benefit Obligation
Amount
benefit obligation for individual employers. The pension benefit
obligation and net assets available for benefits for the systems as a whole Retirees and beneficiaries currently receiv'g benefits $ 6,224,000
were determined by the office of State Actuary as of December 31, Current Employees: '
1991. Cumulative Employee Contribution 61,000
Employer Contribution-vested 713,000
Historical trend information showing the systems' progress in Total Pension Benefit Obligation S 6,998,000
accumulating sufficient assets to pay benefits when due are presented in Net assets available for benefits,at cost ,
the State of Washington Department of Retirement Systems' lune 30, (Market Value$2,956,746) (2,430,896)
1992 Comprehensive Annual Financial Report. Unfunded Pension Obligation $ 4,567,104
FIREMEN'S PENSION Actuarial Funding Method & Amortization of Unfunded Pension t
Plan Description Obligation
The City contributes to the Firemen's Pension Plan (the System), a The System's funding policy requires the employer to make contributions
closed, single-employer, defined benefit retirement plan established and for the actuarially determined amount using the Aggregate Cost funding
administered by the City in accordance with the Renton Municipal Code method. This method does not explicitly calculate the cost of benefits '
and State statutes. This system was established for fire fighters employed accruing during the year for active employees, i.e., normal cost. On an
prior to March 1, 1970, when the LEOFF retirement system was estimated basis, approximately $55,000 of the 1992 cost is for active
established. The System is considered part of the City's reporting entity employees with the remaining amount paid toward reducing the unfunded
and is included in the City's financial statements as a pension trust fund. liability. The unfunded obligation is amortized over the period ending '
At December 31, 1992,there were 45 members in the System, including December 31, 2008, assuming cost increases 8% annually. Employees
38 retirees and beneficiaries currently receiving benefits and terminated are not required to make contributions. Pension benefit obligations were
employees entitled to benefits but not yet receiving them; 7 vested active actuarially determined in 1982, 1986, 1988, 1990 and 1992. Amounts
members and no nonvested active members. The City's payroll for included for other periods were estimated based on the most recent '
employees covered by the System for the year ended December 31, 1992 actuarial result.
was S428,350.
The contributions to the System for 1992 of $228,000 were made in
The retirement benefits vest after 20 years of service. Members may accordance with actuarially determined requirements and represent 60%
retire after 25 years of service regardless of age;and after age 50 with 20 of the covered payroll. Other incomes to the system include $44,536 '
or more years of service. The plan also provides death and disability from fire insurance premiums and $149,719 of investment income.
benefits. The benefit provisions and all other requirements are Trend data presented below is designed to provide detailed information
established by State statute. on the System's accumulation of sufficient assets to pay benefits when
due.
Significant Accounting Policies and Plan Assets
Please refer to Note 1 to the financial statements with regards to the
significant accounting policies. Investments in the System are valued at
Table 23: Fire Pension Ten-Year Fundin Proress Data I Net Assets Pension Benefi Unfunded Annual Unfunded Pension Employer
Fiscal Available for Obligation Percentage Pension Covered Obligation as a %of Employer Contribution As a %
Year Benefits Funded Obligation Payroll Covered Payroll Contribution of Covered Payroll
1992 $ 2,430,896 $ 6,998,000 34.74% $4,567,104 $428,350 1066.21% $ 228,000 53.23%
1991 2,325,477 6,656,197 34.94% 4,330,720 343,072 1262.34% 206,000 60.05%
1990 2,075,326 6,984,000 29.72% 4,908,674 367,652 1335.14% 191,000 51.95%
1989 1,954,839 6,164,532 31.71% 4,209,693 456,618 921.93% 175,000 38.33%
1988 1,816,787 6,288,000 28.89% 4,471,213 467,220 956.98% 162,000 34.67%
1987 1,620,625 6,150,000 26.35% 4,529,375 468,665 966.44% 150,000 32.01%
1986 1,548,140 6,150,000 25.17% 4,601,860 516,247 891.41% 259,000 50.17%
1985 1,285,181 7,595,000 16.92% 6,309,819 559,051 1128.67% 240,000 42.93%
1984 953,388 7,595,000 12.55% 6,641,612 574,767 1155.53% 220,000 38.28%
1983 850,551 1 7,595,000 11.20% 6,744,449 1 652,375 1 1033.83% 202,145 1 30.99%
t�
26 trs
City of Renton Notes to The Financial Statements
Table 24: Fire Pension Ten-Year Revenues and Expenses
Revenue by Source Expenses by Type
Employer Fire Insurance Investment
Fiscal Year Contributions Premium Income Total Revenue Benefits Administration Total Expenses-
1992
x enses1992 $ 228,000 $ 44,536 $ 149,719 $ 422,255 $ 314,066 $ 2,770 $ 316,836
1991 206,000 52,895 185,264 444,159 277,497 8,609 286,106
1990 191,000 48,865 227,438 467,303 252,197 2,521 254,718
1989 175,000 49,842 263,152 487,994 251,468 5,722 257,190
1988 162,000 50,378 165,071 377,449 249,904 5,052 254,956
1987 150,000 53,834 106,714 310,548 235,971 2,092 238,063
1986 259,000 51,960 179,568 490,528 221,680 5,879 227,559
1985 240,000 34,244 88,427 362,671 213,036 2,110 215,146
1984 222,000 37,265 42,700 301,965 197,987 2,302 200,289
1983 202,145 37,788 51,370 291,303 200,387 3,057 203,444
OTHER POSTEMPLOYMENT BENEFITS both its General Obligation Bonds and Revenue Bonds. Table 26
In addition to the pension benefits described in Note 10, the City summarizes long-term debt transactions of the City for the year ended
provides postemployment benefits in accordance with State statute to all December 31, 1992. A detail of all outstanding debt of the City is listed
LEOFF I (law enforcement officers and fire fighters hired prior to in table 27 on the following page.
10/1/77) and Fire Pension (fire fighters hired prior to March 1, 1970)
retirees. Currently there are 76 LEOFF I retirees who receive necessary Table 26: Long Term Debt Additions and Retirements Summa
r medical and hospitalization coverage and five retirees who are covered Payable Payable
solely by the Fire Pension Plan and receive medical coverage limited to Item 1/1/92 Added I Retired 12/31/92
treatment of service related disabilities only. Expenditures for General:
postemployment health care benefits are recognized as retirees report General Obligation $17,297,212 $ 1,051,050 $ 984,865 $17,363,397
r claims. The City does not have a funding policy at this time and no Installment Contracts 767,719 167,328 321,335 613,712
assets are designated for this purpose. During the year, expenditures of Arbitrage 205,812 125,183 0 330,995
$200,336 were recognized for postemployment health care. Special Assessment 8,567,000 0 983,000 7,584,000
Employee Leave
State statute provides that the City's responsibility for medical payments Benefits 2,306,892 756,415 0 3,063,307
of LEOFF I retirees is secondary to any other coverage retirees receive Total General $29,144,635 $2,099,976 $2,299,200 $28,955,411
or are eligible to receive. The City recognizes a potential savings exists
when retirees utilize medicare as primary coverage and the City for Proprietary:
secondary coverage and ineligible expenses. Therefore, upon reaching Revenue Bonds $19,050,000 $ 8,635,000$5,140,000 $22,545,000
age 65, the City requires the retirees to apply for and utilize Medicare General Obligation 4,407,788 313,950 380,135 4,341,603
Part B coverage. The City reimburses these medicare premiums at an Arbitrage 9,492 696 0 10,188
average cost of approximately $31 per month for 20 LEOFF I retirees Employee Leave
and five Fire Pension retirees. Benefits 222.848 108,511 0 331,359
r
Public Works Trust
NOTE 11-CONSTRUCTION COMMITMENTS Fund Loan 76,301 996,940 0 973,241
At December 31, 1992 the City had significant contractual construction Total Proprietary IS2M66,429 $9,955,097 $5,520,135 $28,201,391
commitments.These are listed below: Total All Funds
r Revenue Bonds $19,050,000 $ 8,635,000 $5,140,000 $22,545,000
Table 25: Construction Commitments General Obligation 21,705,000 1,365,000 1,365,000 21,705,000
Project Title Commitment Fund Souroe Installment Contracts 767,719 167,328 321,335 613,712
Revenue Arbitrage 215,304 125,879 0 341,183
Bonds/Public works Special Assessment 8,567,000 0 983,000 7,584,000
Waterworks Improvements $ 4,271,214 Trust Fund Loans Employee Leave
Senior Housing Improvements $ 578,756 GO Bonds Benefits 2,529,740 864,926 0 3,394,666
Airport Improvements $ 131,253 Grant Public Works Trust
Street Improvements $ 71,080 General/Grant Fund Loan 76,301 896,940 0 973,241
Total All Funds IS52,911,064 $12,055,073 $7,809,1351 $57.156,802
NOTE 12-LONG-TER.M DEBT
The City of Renton's long-term debt consists of General Obligation Debt, DEBT PRO RATED BETWEEN FUNDS
repaid mainly from general governmental revenue sources; Special The 1986 Limited General Obligation Bond issue included funds to
Assessment Debt, repaid from special assessment payments from provide permanent financing for the purchase of a Golf Course which
participants; and Proprietary Debt, repaid from proprietary revenues. was acquired in 1985. The $3,479,240 is the remaining obligation for
These debts are accounted for in the following areas: 1.)The outstanding this purchase and is reported on the balance sheet of the Enterprise
general obligation debt, except for the portion applicable to proprietary Funds. Likewise, a pro rata share of the 1985, 1986, 1989 and 1992
operations, is reported in the General Long-Term Debt Account Group; general obligation bonds were for the benefit of the Equipment Rental
2.)The repayment, or debt service of the same, is recorded in the Debt Fund and are therefore reported on the balance sheet of the Internal
Service Funds; 3.) The proprietary debt includes the portion of general Service Fund. The entire debt in each instance is secured by the full
obligation debt applicable to proprietary operations. Both the liability faith and credit of the general government. Table 28 provides a
and repayment of the same are reported in individual Proprietary Funds. reconciliation of debt distribution between the Proprietary Funds and the
The City has an A-I bond rating from Moody's Investors Service for General Long Term Debt Account Group.
27
City of Renton Notes to The Financial Statements '
Table 27: Outstanding Debt as of December 31, 1992 '
Interest Issue Maturity Outstandin
Item Rates Date I Date Authorized 1 1/1/92 Issued I Redeemed 12/31/92
GENERAL OBLIGATION BONDS: ,
1978 Senior Citizens Center 5.38% 02/01/78 02/01/98 $ 900,000 $ 440,000 $ 0 $ 55,000 $ 385,000
1983 G O Refunding Bonds 8.70%-9.30% 06/01/83 05/01/02 2,655,000 220,000 0 105,000 115,000
1985 Equipment 6.00%-8.75% 01/01/85 01/01/92 430,000 75,000 0 75,000 0
1986 G O Bonds 6.50%-9.00% 06/01/86 06/01/02 9,220,000 7,055,000 0 515,000 6,540,000 ,
1989 G O Bonds 6.10%-7.00% 02/01/89 02/01/02 1,600,000 1,435,000 0 90,000 1,345,000
1989 G O Refunding Bonds 6.75%-7.00% 06/01/89 05/01/02 2,085,000 2,025,000 0 25,000 2,000,000
1992 G O Bonds 2.60%-5.00% 10/01/92 12/01/02 1,365,000 0 1,365,000 0 1,365,000
1983 UnLtd G O Refunding Bonds 6.00%-10.00% 05/01/83 05/01/02 7,140,000 5,100,000 0 345,00014,755,000 '
1989 UnLtd G O Bonds 6.40%-7.50% 02/01/89 1 02/01/09 5,500,000 5,355,000 0 155,0001 5,200,000
Total General Obligation Bonds 30,895,000 21,705 000 1,365,000 1,365 000 21,7059000
INSTALLMENT CONTRACTS: ,
First City Washington(Land) 11.00% 5/20/92 05/19/93 167,328 0 167,328 167,328 0
IGng County(Land) 10.00% 8/25/88 10/01/94 90,300 71,545 0 7,541 64,004
Holm(Property) 10.00% 11/20/90 05/01/95 134,291 134,291 0 25,000 109,291
Holm Property Mortgage 10.50% 11/20/90 02/01/95 80,708 77,576 0 3,006 74,570 '
Telephone Lease 8.00% 04/17/89 08/01/95 549,574 431,865 0 102,928 328,937
Printshop Copier 9.01% 10/01/90 09/01/94 38,367 27,820 0 99332 18,488
Copier Lease 9.01% 10/01/90 09/01/94 13,095 99495 0 3,185 6,310
Printing Press Lease 11.25% 1 03/10/91 1 02/10/96 1 17,394 15,127 0 3,0151 12,112 '
Total Installment Contracts 1 1,091,057 767,719 167,3281 321,335 613,712
Total General Obligation Debt 1$31,986,057 522,472,719 $ 1,532,3281 Sl, 86,3351$22,318,712
REVENUE BONDS:
1973 Airport 6.10% 04/01/73 04/01/93 $ 565,000 $ 95,000 S 0 $ 45,000 $ 50,000
1977 Water/Sewer Refunding 6.01% 12/01/77 07/01/99 3,045,000 2,075,000 0 215,000 1,860,000
1983 Water/Sewer 8.70% 05/01/83 05/01/99 1,500,000 975,000 0 880,000 95,000
1985 Water/Sewer 9.73% 04/01/85 04/01/05 2,600,000 410,000 0 90,000 320,000
1986 Water/Sewer 7.90% 08/01/86 08/01/06 1,800,000 1,565,000 0 1,295,000 270,000
1987 Water/Sewer 7.55% 06/01/87 06/01/06 3,375,000 3,060,000 0 2,335,000 725,000
1988 Water/Sewer 7.56% 06/01/88 06/01/08 3,460,000 3,190,000 0 100,000 3,090,000
1989 Water/Sewer 6.85%-7.50% 05/01/89 05/01/09 1,715,000 1,635,000 0 45,000 1,590,000
1989 Water/Sewer Refunding 6.00%-7.10% 09/01/89 04/01/05 2,150,000 2,050,000 0 25,000 2,025,000 FAN
1990 Water/Sewer 5.90%-7.37% 11/01/90 10/01/10 4,100,000 3,995,000 0 110,000 3,885,000
1992 Water/Sewer 3.50%-6.50% 06/01/92 12/01/12 4,000,000 0 4,000,000 0 4,000,000
1992 Water/SewerRefundin 3.50%-6.35% 1 06/01/92 1 12/01/06 1 4,635,000 0 4,635,000 0 4,635,000
Total Revenue Bonds $32,945,000 $19,050,000 S 8,635,000 $5,140,000 $22,545,000
PUBLIC WORKS TRUST FUND LOANS:
Northwest Seventh Sewer Repair 5.00% 12/31/91 07/01/01 S 84,779 S 76,301 S 8,478 S 0 $ 84,779
Sierra Heights Sewer Improvements 3.00% 10/20/92 07/01/12 888,462 0 888,462 0 888,462 •
Total Public Works Trust Fund Loans $ 973,241 $ 76,301 $ 8969940 $ 0 $ 973,241
LID BONDS AND NOTES:
r
302 Street/Utilities 10.93% 05/01/80 05/01/97 $4,546,930 $ 155,000 $ 0 $ 155,000 $ 0
313 Street 6.25% 04/01/87 04/01/99 12,239 7,000 0 3,000 4,000
314 Street/Utilities .00%-11.125% 09/01/89 09/01/01 6,789,084 2,225,000 0 280,000 1,945,000
324 Street 7.50%-10.40% 07/01/84 07/01/96 252,922 25,000 0 25,000 0
328 Street 6.75%-9.75% 06/01/85 06/01/97 54,691 15,000 0 15,000 0
326/331 Street 5.50%-7.70% 10/01/86 10/01/98 372,160 95,000 0 20,000 75,000
330 Street/Utilities 5.50%-7.30% 07/01/88 07/01/00 380,299 185,000 0 75,000 110,000
332 Street/Utilities 6.00%-7.75% 10/15/88 10/15/05 3,450,183 2,660,000 0 410,000 2,250,000
329 Street/Utilities Variable 07/01/91 1 01/01/93 1 600,0001 3,200,000 0 0 3,200,000
Total Lid Bonds And Notes I S16,458,5081 $8,567,0001 $ 0 $ 983,000 S 7,584,000
ARBITRAGE $ 215,304 $ 125,879 $ 0 $ 341,183
EMPLOYEE LEAVE BENEFITS $2,529,740 $ 864,926 $ 0 S 3,394,666 •
TOTAL OUTSTANDING DEBT $82,362,806 $52,911,064 $12,055,073 $7,809,335 $57,156,802
r
28 •
City of Renton Notes to The Financial Statements
Table 28: Pro Rated Debt
Waterworks Golf Course Equipment General Long
Issue Utility Fund Rental Term Debt Total
1986 General Obligation Bond Issue:
Payable-Long Term $ 526,335 S 2,657,645 S 256,593 $ 2,780,302 $ 6,220,875
Payable-Current 48,840 246,420 23,865 0 319,125
Total 1986 General Obligation Bond $ 575,175 $ 2,904,065 S 280,458 S 2,780,302 S 6,540,000
1989 General Obligation Bond Issue
Payable-Long Term $ 0 $ 0 $ 249,050 S 1,077,045 $ 1,326,095
Payable-Current 0 0 18,905 0 18,905
Total 1989 General Obligation Bond $ 0 $ 0 $ 267,955 $ 1,077,045 $ 1,345,000
1992 General Obligation Bond Issue:
Payable-Long Term $ 0 $ 0 $ 289,800 $ 1,051,050 S 1,340,850
Payable-Current 0 0 24,150 0 24,150
Total 1992 General Obligation Bond S 0 $ 0 $ 313,950 $ 1,051,050 $ 1,365,000
Other General Obligation Bond $ 0 $ 0 1 S 0 S 12,455,000 S 12,455,000
Installment Contracts S 0 is 0 is 0 $ 613,712 $ 613,712
Total General Obligation Debt $ 575,175 1 S 2,904,065 IS 862,363 S 17,977,109 S 22,318,712
SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT
As of December 31, 1992, a total of$7,584,000 of long-term special assessment debt was outstanding which included $3,200,000 in the form of bond
anticipation notes, to be refinanced by the sale of long-term bonds. This debt was issued to fund capital improvements to enhance the utility,
accessibility and aesthetic value of property within the City of Renton. The source of repayment of this debt is in the form of assessments against
benefiting property owners. In the event of default by one of these property owners the City is obligated for repayment, and has established a guaranty
fund for that purpose. As of December 31, 1992, special assessments receivables totaled $3,876,542, which includes $87,984 of delinquent
assessments. $782,996 in the guaranty fund represents 10.3% of special assessment debt outstanding.
DEBT LIMIT CAPACITIES
State law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable properly of the City: 0.75% without a
vote of the people; 2.5% with a vote of the people; 5% with a vote of the people, provided the indebtedness in excess of 2.5% is for utilities; and
7.5% with a vote of the people provided the indebtedness in excess of 2.5% is for parks and open space development. At December 31, 1992, the
debt limits for the City were as follows:
Table 29: Debt Limit Capacities
With a Vote of the Peo Ic
Item Without a Vote 1 2.5% 5% 7.5%
Legal Limit S 25,571,153 S 85,237,178 S 170,474,356 S 255,711,534
Outstanding Net Indebtedness 12,012,173 16,913,181 16,913,181 21,279,232
Capacity Available S 13,558,980 S 68,323,997 S 153,561,175 $ 234,432,302
REFUNDED DEBT
The City has refunded seven general obligation, Local Improvement District and revenue bond issues by placing the proceeds of new bonds in an
irrevocable trust to provide for all future debt service payments on the old bonds. As a result,the refunded bonds are considered to be defeased and the
liability has been removed from the City's financial statements. Schedules of assets, liabilities, and equity as of December 31, 1992, and changes to
refunded bonds payable are as follows:
Table 30: Refunded Bonds
Item U.S. Bank Sea First Key Bank Total
Assets:
Cash with Trustee $ 5,589 $ 110 S 277 $ 5,976
Investments with Trustee 5,155,948 1,840,300 8,056,200 15,052,448
Estimated Interest Receivable 481,787 0 258,895 740,682
Total Assets S 5,643,324 S 1,840,410 S 8.315,372 S 15,799,106
Liabilities:
Refunded Bonds Payable S 5,535,000 $ 1,815,000 $ 7,630,000 $ 14,980,000
Equity:
Earnings with Trustee 108,324 25,410 685,372 819,106
Total Liabilities and Equill S 5,643,324 S 1,840,410 S 8,315,372 $ 15,799,106
Table 31: Changes to Refunded Bonds Payable
Item Balance 12/31/91 Increase Decrease Balance 12/31/92
Refunded Bonds Payable GO S 9,170,000 S 0 $ 3,710,000 $ 5,460,000
Refunded Bonds Payable LID 1,840,000 0 230,000 1,610,000
Refunded Bonds Payable Revenue 3,880,000 4,245,000 215,000 7,910,000
Total S 14,890,000 S 4,245,000 S 4,155,000 S 14,980,000
29
City of Renton Notes to The Financial Statements
DEBT SERVICE TO MATURITY
Following is a schedule showing the debt service requirements to maturity for the City's long-term debt. Formulas have been implemented to compute '
the principal and interest obligations for the special assessment debt as it is redeemed in direct proportion with special assessment collections from
district participants. A formula has also been used to compute the interest requirements on the general obligation debt that carries a variable interest rate
tied directly to the prime rate.
Table 32: Debt Service Re uirement to Maturity '
Public Works Trust
General Obliation Bonds Installment Contrects Revenue Bonds Fund Loans Special Assessment Debt Total Lon -Term Debt
Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Princi elI Interest '
1993 $ 1,490,000$ 1,573,101 5165,110 $48,885 S 1,120,000 $ 1,462,575 $ 9,420$ 19,762$3,766,000$ 336,955 $6,550,527 $3,441,278
1994 1,525,000 1,456,244 173,305 34,347 1,135,000 1,393,626 56,181 30,422 561,000 293,239 3,450,487 3,207,878
1995 1,630,000 1,342,200 238,002 10,632 1,205,000 1,321,701 56,181 28,548 561,000 249,897 3,690,184 2,952,978
1996 1,770,000 1,216,714 11,790 3,666 1,290,000 1,245,065 56,181 26,674 531,000 207,116 3,658,972 2,699,235 ,
1997 1,910,000 1,078,480 12,145 2,551 1,375,000 1,163,838 56,181 24,800 505,000 166,508 3,858,326 2,436,177
1998 2,065,000 926,971 13,360 1,336 1,465,000 1,078,210 56,181 22,927 500,000 127,303 4,099,541 2,156,747
1999 2,150,000 763,258 0 0 1,565,000 984,190 56,181 21,053 500,000 88,473 4,271,181 1,856,974
2000 2,335,000 586,046 0 0 1,095,000 892,651 56,181 19,179 225,000 49,368 3,711,181 1,547,244
2001 1,885,000 423,376 0 0 1,180,000 819,381 56,181 17,305 225,000 32,538 3,346,181 1,292,600 '
2002 2,025,000 281,940 0 0 1,250,000 739,125 46,761 15,431 210,000 15,708 3,531,761 1,052,204
2003 330,000 194,285 0 0 1,345,000 652,990 46,761 14,028 0 0 1,721,761 861,303
2004 355,000 170,653 0 0 1,445,000 559,238 46,761 12,626 0 0 1,846,761 742,517
2005 385,000 144,930 0 0 1,540,000 457,395 46,761 11,223 0 0 1,971,761 613,548
2006 410,000 117,105 0 0 1,400,000 356,515 46,761 9,820 0 0 1,856,761 483,440
2007 445,000 86,958 0 0 975,000 273,630 46,761 8,417 0 0 1,466,761 369,005
2008 480,000 54,120 0 0 1,050,000 200,823 46,761 7,014 0 0 1,576,761 261,957
2009 515,000 18,540 0 0 780,000 135,863 46,761 5,611 0 0 1,341,761 160,014 ,
2110 0 0 0 0 670,000 79,938 46,761 4,209 0 0 716,761 84,147
2111 0 0 0 0 320,000 32,500 46,762 2,806 0 0 366,762 35,306
2012 0 0 0 0 340,000 11,050 46,762 1,403 0 0 386,7621 12,453
Total $21,705,000 $10,434,92] $613,712 $101,417$22,545,000$13,860,304 $973,2411$303,258$7,584,0001$1,567,105 553,420,9531$26,267,0051 '
AMOUNT AVAILABLE FOR DEBT SERVICE
Fund balances that have been reserved for debt repayment are: $330,995 in the capital projects fund and$3,952,482 in the debt service funds.
ARBITRAGE PAYABLE
The Federal Tax Reform Act of 1986 requires issuers of tax-exempt debt to make payments to the United States Treasury of investment income
received at yields that exceed the issuer's tax-exempt borrowing rates. The liability is recorded at present value and payable every 5 years or 60 days
after defeasance of the debt. The estimated amount due at year end is$341,183.
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS ,
In accordance with generally accepted accounting principles for regulated businesses, the Waterworks Utility Fund had a deferred cost of$320,000 in
1982 that was a Utility Fund payment for construction of a new City Shop facility,which was occupied in mid-1984. The facility was constructed from
the proceeds of a$2,300,000 General Obligation Bond Issue. '
The$320,000 will be credited toward the Utility's portion of the rental charge for the new facility and will be expensed over the 20-year life of the
bond issue. As of December 31, 1992,there was a balance remaining of$176,000.
NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY ,
Following is an analysis of fund equity reservations and designations by type for each of the City's fund groups.
Table 33: Reservations of Fund Equity ,
General Debt Capital Internal Trust
Equity Reserved For: Fund Service I Projects I Enterprise I Service &Agency Total
Debt Service/Arbitrage S 0 $ 3,952,482 $330,995 S 2,004,768 S 0 $ 0 $ 6,288,245
Advances/Other Funds 54,000 0 0 0 0 0 54,000 ,
Insurance Deductible 0 0 0 0 500,000 0 500,000
Pension Obligation 0 0 0 0 0 6,998,000 6,998,000
Total $ 54,000 S 3,952,482 $330,995 $ 2,004,768 $500,000 $ 6,998,000 $ 13,840,245
Table 34: Unreserved Designated Fund Equity
Equity Designated For: General Fund Special Revenue Total tr
Inmate Health&Welfare $ 15,195 S 0 $ 15,195
Investigative Fund Confiscations 278,404 0 278,404
Developmentally Disabled Program 0 5,380 5,380
Total $ 293,599 $ 5,380 $ 298,979
NOTE 15-SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains four enterprises whose operations are accounted for in the Enterprise Funds and are financed and operated in a manner similar to
private business. It is generally intended that the costs of providing goods or services to the general public on a continuing basis should be financed or
recovered primarily through user charges. Segment information for the year ended December 31, 1992,is on the next page.
30 url
City of Renton Notes to The Financial Statements
Table 35: Segment Information for Enterprise Funds
Waterworks
Item Utility Airport Solid Waste Golf Course Total
Total Operating Revenue S 13,926,436 S 552,127 S 6,298,633 S 899,319 S 21,676,515
Operating Expenses:
Operations&Maintenance $ 7,540,855 $ 191,493 $ 5,378,282 $ 549,716 S 13,660,346
Administrative&General 1,197,861 81,896 0 0 1,279,757
Insurance 0 11,021 0 0 11,021
Taxes 1,028,770 0 846,502 4,107 1,879,379
Depreciation 1,795,364 207,535 2,938 51,661 2,057,498
Total Operating Expenses S 11,562,850 $ 491,945 S 6,227,722 $ 605,484 $ 18,888,001
Net Operating Income ss S 2,363,586 $ 60,182 S 70,911 S 293,835 $ 2,788,514
Non-Operating Revenue Net of Expenses (679,518) 49,971 51,668 (229,990) (807,869)
Operating Transfers In Out 0 0 0 372,125 372,125
Net Income (Loss)Before Extraordinary Item S 1,684,068 S 110,153 S 122,579 S 435,970 $ 2,352,770
Extraordinary Loss on Advance Refunding 384,077 0 0 0 384,07
Net Income ss S 1,299,991 $ 110,153 S 122,579 $ 435,970 S 1,968,693
Net Working Capital S 3,604,103 $ 884,754 $ 904,335 S 396,140 $ 5,789,332
Additions to Property, Plant and
Equipment,Net of Disposals S 4,457,944 $ 898,723 $ 0 $ 39,731 $ 5,396,398
Total Assets S 98,951,042 $ 5,287,199 S 1,397,317 S 4,771,201 $ 110,406,759
Long Term Debt, Net of Current Portion
&Bond Premium/Discount S 22,674,892 S 16,551 $ 1,9801S 2,646,982 IS 25,340,405
Current Capital Contributions IS 2,618.9841 S 765.0091$ 01 S 01S 3,383,993
Total Fund Equity IS 74,224,832 1$ 5,108,786 1$ 911,8211 S 1,825,177 1$ 82,070,616
NOTE 16-LITIGATION
The City is involved in several pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by insurance
resulting from such litigation would not materially affect the financial statements of the City.
w
NOTE 17-RISK MANAGEMENT
The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and ommissions; injuries to
employees; and natural disasters. The City of Renton protects itself against unforeseen losses by utilizing a three-pronged risk management approach.
First,the City self funds first level losses through its Insurance Fund. Second, stop-gap insurance is purchased to cover medium and large losses. And
third, the City reserves the right to utilize the provisions of RCW 35A.31.060 to fund catastrophic or uninsured losses. This State statute allows cities
to levy a non-voted property tax increase to pay for uninsured claims. An analysis of the self-insurance retention levels, limits of insurance, and claims
administrators for the major types of coverages arc presented below.
Table 36: Risk Management
Risk
Retention Risk Sharing
Tv z of Covera e Occurrence Claims Adm Aggregate Carrier
Property 5250,000 Gallagher $79,000,000 Lloyd's,National Union
Liability 250,000 Gallagher 5,000,000 Lloyd's,Int'I Surplus
Auto Liability 250,000 Gallagher 4,750,000 Lloyd's, Int'I Surplus
Boiler&Machinery 5,000 Gallagher 30,000,000 Kemper
Public Official's 25,000 Gallagher 1,000,000 Scottsdale
Crime 5,000 Gallagher 1,000,000 Kemper
Airport Liability 5,000 Gallagher 5,000,000 Transamerica
Undergrd Storage Tank 10,000 Gallagher 1,000,000 National Union
Worker's Comp 175,000 Johnston&Culberson 2,425,000 Safety National
Employee Health 1 70,000 HMA, Inc N/A Safeco
The City's risk management program is administered by the Administrative Services Administrator, with claims being processed by the independent
claims administrators noted above. As of December 31, 1992,the City had accrued the following amounts for outstanding claims.
Table 37: Outstanding Claims
Incurred/ Incurred But Not Reported Total Claims
Coverage Reported Payable
Property&Liability S 0 $ 575,743 S 575,743
Worker's Compensation 18,630 22,809 41,439
Employee Health 0 125,057 125,057
Total $ 18,630 $ 723,609 $ 742,239
Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated settlement value of both reported and unreported claims. The
Insurance Fund is used for collecting interfund premiums from insured funds and departments, and for paying claims settlements. Interfund premiums
are assessed on the basis of claims history, number of employees, and value of assets. Table 38 on the next page presents changes in claims liabilities
for 1991 and 1992.
., 31
City of Renton Notes to The Financial Statemenu '
Table 38: Changes in Claims Liabilities ,
Property and Liability Worker's Com ensation Employee Health Totals
Item 1992 1 1991 1992 1991 1992 1991 1992 1991
Claims Liabilities at Beginning of Year $ 210,443 $ 215,179 $ 54,080 $ 0 $ 195,691 S 149,250 $ 460,214 $ 364,429
Claims Expenses: ,
Current Year and Changes in Estimates 1,123,759 363,966 170,387 325,183 2,355,943 1,924,512 3,650,089 2,613,661
Claims Payments 58,459 368,702 183,028271,103 2,426,57 1,878,071 ,368 064 2,517,876
laims Liabilities at End of the Year $ 575,743 $ 210,443 S 41,439 $ 54,080 S 125,057 $ 195,691 S 742,239 S 460,214
NOTE 18-PRIOR PERIOD ADJUSTMENTS ,
JOINT VENTURE
The financial statements presented for the year ended December 31, 1992 reflect the presentation of the equity interest in a joint venture in the General
Fixed Assets Account Group as promulgated by Statement No. 14 of the Governmental Accounting Standards Board. In prior years,the joint venture '
was reported in the General Fund. For comparative purposes, the financial statements for the prior year have been restated by$461,222.
SOLID WAS7E U77LI7Y FUND
State Refuse Collection Taxes were reported in prior years as a pass through. To be consistent with the treatment of all other taxes in 1992,these taxes ,
are reported as revenues and expenses. For comparative purposes, 1991 revenues and expenses have been restated by$217,517.
FIREMEN'S PENSION 7R UST FUND
For 1992,the interest revenue and property taxes are reported as operating revenues in the Firemen's Pension Trust Fund since these revenues are an t
integral part of the Firemen's Pension Trust's operations. The year 1991 has been restated to reflect this change.
NOTE 19-SUBSEQUENT EVENTS
Since the close of books on December 31,the follow subsequent events have occurred which may materially affect the City's future financial status.
Debt Issuance: '
In January 1993,the City redeemed$3,200,000 Bond Anticipation Notes for LID 329, Valley Medical street improvements. Funding sources included
a $1,815,000 prepayment from Valley Medical received December 31, 1992. In March 1993, the City issued $1,654,000 in LID Bonds for this
project. '
In March 1993,the City issued a $350,000 Certificate of Participation in Limited Tax General Obligation Bonds through the Association of Washington
Cities and Washington State Association of Counties Flexl-ine Program. The proceeds were used to finance the purchase of yard waste carts for the
Solid Waste Utility residential recycling program. '
32 r
City of Renton 1992 CAFR
GENERALFUND
The City of Renton's General Fund includes all financial transactions
which are not properly accounted for in other funds. It is the largest
accounting entity in the City and provides for most of the general
operation except for park, street, and library functions, which are
accounted for in special revenue funds.
The major resource to the Fund is general tax revenue. Licenses and
permits, charges for service, and fines and forfeits provide additional
support.
1
33
City of Renton 1992 CAFR '
GENERAL FUND Page 1 of 1 ,
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 ,
1992 1991
ASSETS:
Cash and Cash Equivalents ........................ S 2,436,903 S 2,255,211 ,
Receivables:
Taxes .......................................... 330,266 385,093
Accounts ....................................... 1,627,389 1,263,205
Due From Other Funds ............................. 12,114 538 ,
Due From Other Governmental Units ................ 55,586 74,937
Interfund Loans/Advances Non-Current ........... 54,000 4,000
TOTAL;AS.SETS..; ...:.; ...3 ..... ..............:.. S ::;4,51;6;:25$
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ..................... S 255,177 S 367,599
Retainage Payable .............................. 0 43
Due To Other Funds ............................. 178,026 159,505 '
Due To Other Governmental Units ................ 736,361 589,855
Accrued Taxes Payable .......................... 917 771
Deposits Payable ............................... 68,805 66,174
Deferred Revenues .............................. 1,169,908 1,074,703
Accrued Employee Leave Benefits .............. 128,993 105,568 '
TOTAL LIABILITIES .................................. $ 2,538,187 $ 2,364,218'
FUND EQUITY:
Fund Balance: '
Reserved For Advances To Other Funds ......... $ 54,000 $ 4,000
Unreserved - Designated:
For Inmate Health & Welfare ................ 15,195 11,208
For Investigative Fund Confiscations .... 278,404 187,943
Unreserved - Undesignated ................. 1,630,472 1,415,615 '
TOTAL FUND EQUITY >4 :31;978;Q71. $' 1,610,J66r
.......... ...... .. ..
TOTAL LIABILITIES AND'FUND`EQUITY .............. S';;4,51b�;25$ `)R. x,982,984
34 '
City of Renton 1992 CAFR
GENERAL FUND Page 1 of 1
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
1992 1991
,.r
REVENUES
Taxes .............................................. S 17,532,540 $ 15,710,523
Licenses And Permits ............................... 1,234,753 1,143,364
Intergovernmental Revenues ......................... 1,575,912 1,835,090
Charges For Services ............................... 1,001,891 1,615,763
Fines And Forfeits ................................. 867,386 788,243
r, Interest ........................................... 336,838 194,063
Miscellaneous Revenues ............................. 191,041 209,083
TOTAL REVENUES ...... $ 22,740,361 $ 21,496,129:1
a. EXPENDITURES
Current:
General Government ............................... $ 4,209,899 $ 3,630,727
Security Of Persons And Property ................. 13,551,649 12,324,533
Physical Environment ............................. 1,157,112 976,822
Economic Environment ............................. 2,444,899 2,760,591
Mental And Physical Health ....................... 10,992 10,601
Capital Outlay ..................................... 318,926 275,678
Debt Service:
Principal Retirement ............................. 43,802 43,802
Interest & Fiscal Charges ........................ 27,713 31,794
TOTALEXPENDITURES . ........ ...................' $ 21,764,992 $ 20;:054,548'
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 975,369 $ 1,441,581
OTHER FINANCING SOURCES (USES)
rW
Proceeds of Long-Term Debt ......................... $ 694 $ 17,481
Operating Transfers In ............................. 55,956 8,692
operating Transfers (Out) .......................... (672,125) (671,041)
Sale Of General Fixed Assets ....................... (589) 11,471
TOTAL' OTHER FINANCING SOURCES (USES) ................. $ {616,: 64) 3 {433,397}
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 359,305 $ 808,184
FUND BALANCE JANUARY 1 ............................... 1,618,766 810,582
FUND;BALANCE'DECEMBER 3.1
,rr
35
City of Renton 1992 CAFR ,
GENERAL FUND Page 1 of 1 ,
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL ,
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
GENERAL
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL '
REVENUES
Taxes ............................................ $ 17,818,023 $ 17,532,540 $ (285,483) $ 15,710,523 '
Licenses And Permits ............................... 1,221,462 1,234,753 13,291 1,143,364
Intergovernmental Revenues ......................... 1,751,376 1,575,912 (175,464) 1,835,090
Charges For Services ............................... 886,306 1,001,891 115,585 1,615,763
Fines And Forfeits ................................. 784,539 867,386 82,847 788,243 '
Interest ........................................... 368,023 336,838 (31,185) 194,063
Miscellaneous Revenues 151,086 191,041 39,955 209,083
TOTAL REVENUES ................'.. .................... $ 22,980,815 $ 22,740,361 $ (240,454) $ 21,496,129';:
EXPENDITURES '
Current:
General Government ............................... $ 4,409,490 $ 4,209,899 $ 199,591 $ 3,630,727
Security Of Persons And Property ................. 14,294,122 13,551,649 742,473 12,324,533 ,
Physical Environment ............................. 1,344,974 1,157,112 187,862 976,822
Economic Environment ............................. 3,238,369 2,444,899 793,470 2,760,591
Mental And Physical Health ....................... 9,736 10,992 (1,256) 10,601
Capital Outlay ..................................... 307,164 318,926 (11,762) 275,678 '
Debt Service:
Principal Retirement ............................. 43,803 43,802 1 43,802
Interest & Fiscal Charges ........................ 27,714 27,713 1 31,794
TOTAL EXPENDITURES .........••... $'23,675,372 $
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (694,557) $ 975,369 $ 1,669,926 $ 1,441,581
OTHER FINANCING SOURCES (USES) '
Proceeds Of Long-Term Debt ......................... $ 0 $ 694 $ 694 $ 17,481
Operating Transfers In ................. 55,956 55,956 0 8,692
Operating Transfers (Out) ... (664,715) (672,125) (7,410) (671,041)
Sale of General Fixed Assets ....................... 0 (589) (589) 11,471
TOTAL OTHER FINANCING SOURCES (USES) ................ $ (608,759) $ (616 64) (7,305) $ (633,397)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER '
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,303,316) $ 359,305 $ 1,662,621 $ 808,184
FUND BALANCE JANUARY 1 1,962,116 1,618,766 (343,350) 810,582
FUND BALANCEDECEMBER`31 . ........................... $ 658,800 r', 1,978 a71 1,319,271 $ 11648J66
36
City of Renton 1992 CAFR
r
SPECIAL REVENUE FUNDS
Special Revenue Funds account for the proceeds of specific revenue
sources other than special assessments, expendable trust, or major
capital projects. These revenues finance particular activities or functions
as required by law or administrative regulations. The City of Renton's
` Special Revenue Funds are summarized below.
PARK FUND -Accounts for operation of the City's parks and recreation
system,maintenance of municipal buildings,and landscaping services for
r public facilities. Resources are primarily from general tax revenues and
charges for services.
ARTERIAL STREET FUND - Established in accordance with RCW
.. 82.36.020 for the administration of the State levied motor vehicle 1/2 cent
gasoline tax distributed to Renton. Expenditures are limited by law to
capital improvements of City arterial streets.
STREET FUND - Established in accordance with RCW 35A.37.010 to
account for maintenance and improvement of the City's street and traffic
control systems. Major sources of support are general tax revenues and
the State levied tax on motor vehicle fuels distributed to Renton, to be
used for City street purposes.
COMMUNITY DEVELOPMENT BLOCK GRANT FUND- Established in
1992 to administer the Federally funded Community Development Block
Grant activity per City Ordinance#4335. The program was reported in
the General Fund in prior years.
IMPACT MITIGATION FUND - Created to account for monies collected
from developers to offset impacts created by their developments to City's
.. facilities.
LIBRARY FUND - Accounts for operation of the Citys library system,
including central and branch facilities. Resources to the fund are mainly
general tax revenues and library fines.
PATHS AND TRAILS RESERVE FUND - Created for the purpose of
planning, accommodating, establishing, and maintaining certain paths
and trails. 1/2 of 1%of the State levied motor vehicle fuel tax distributed
to Renton,is allocated to this fund each year.
' ONE PERCENT FOR ART FUND -The fund is established to account
for required City's contribution equal to 1% of general governmental
capital project funding for art projects.
' CABLE COMMUNICATIONS DEVELOPMENT FUND - Provision for
promotion and development of cable communications according to City
Ordinances#3155 and#3137
' 37
City of Renton 1992 CAFR '
SPECIAL REVENUE FUNDS Page 1 of 2 '
COMBINING BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 ,
PARK ARTERIAL STREET COMM DEVELOP
STREET BLOCK GRANTS
ASSETS:
Cash and Cash Equivalents ........................ $ 502,519 $ 38,778 $ 570,344 $ 8,712 ,
Investments ...................................... 0 0 0 0
Receivables:
Accounts ....................................... 380 0 5,471 0
I Interest on Investments ........................ 0 0 0 0
f Due From Other Funds ............................. 11,363 0 27,771 0 '
Due From Other Governmental Units ................ 0 43,960 0 50,858
TOTAL"ASSETS> $''514,262 $ $2,73A':>. 643„586 $ 59,570 '
LIABILITIES AND FUND EQUITY:
LIABILITIES: ,
Vouchers/Contracts Payable ..................... $ 148,137 $ 36,567 $ 60,156 $ 8,530
Retainage Payable .............................. 0 0 0 0
Due To Other Funds 0 0 0 0 '
Due To Other Governmental Units ................ 0 0 0 1,040
Accrued Taxes Payable .......................... 1,358 0 0 0
Deposits Payable ............................... 15,245 0 0 0
Deferred Revenues .............................. 0 0 0 0 '
Accrued Employee Leave Benefits ................ 35,489 0 23,133 0
Interfund Loans/Advances - Non-Current ......... 0 0 0 50,000
TOTAL LIABILITIES .................................. $ '200,229 $ ' 36,567, $ 83,289 S 59,570
FUND EQUITY: '
Fund Balance:
Unreserved - Designated:
Developmentally Disabled Program ........... $ 5,380 $ 0 $ 0 0 ,
Unreserved - Undesignated .................... 308,653 46,171 520,297 0
TOTAL FUND EQUITY .................................. $ 314,033 $ '46,171- $ 520;297
TOTAL LIABILITIES AND FUND EQUITY .................. $ 514,262 $ '82,738 $ -603,586 $ ;:59,570:;
38 ,
City of Renton 1992 CAFR
r
Page 2 of 2
r
CABLE TATALS
IMPACT LIBRARY PATHS ONE PERCENT COMMUNICATIONS
MITIGATION & TRAILS FOR ART DEVELOPMENT 1992 1991
$ 54,451 $ 212,621 $ 15,204 $ 37,817 $ 36,924 $ 1,477,370 S 1,484,849
4,459,899 85,000 0 0 250,000 4,794,899 2,930,053
0 0 0 0 859 6,710 11,290
80,519 60 0 0 6,401 86,980 47,395
0 0 0 0 0 39,134 32,836
0 0 0 0 0 94,818 23,042
$4,594',869 $ '297,681 1 15,204 S 37,817 $ 294,1$4 $. 6,499,911::: $ ;:4,329,465
$ 488 $ 21,382 $ 0 $ 0 $ 0 $ 275,260 $ 189,390
0 0 0 0 0 0 6,599
0 0 0 0 0 0 3,776
0 0 0 0 0 1,040 0
0 0 0 0 0 1,358 1,832
0 0 0 0 0 15,245 10,591
0 0 0 0 859 859 7,194
0 3,686 0 0 0 62,308 59,561
0 0 0 0 0 50,000 0
S 488 $''' 25,068 $ 0 $ 0 $ 859 ..40610701:1:1
r
$ 0 $ 0 $ 0 $ 0 $ 0 S 5,380 $ 4,812
4,594,381 272,613 15,204 37,817 293,325 6,088,461 4,245,710
$4,594,381 S 272161 4 15,204 $ 37;8!7 $ 293,325 $ 6,i0,93,84a' $ 4;250;522
$4,594,869 $'>297,681 S 15;204 $ 37,817 $> 294,184 S 6499,917
r
•
39
rr
City of Renton 1992 CAFR
SPECIAL REVENUE FUNDS Page 1 of 2 '
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
PARK ARTERIAL STREET COMM DEVELOP
STREET BLOCK GRANTS
REVENUES
Taxes .............................................. $ 4,643,733 $ 0 $ 1,923,301 $ 0 '
Licenses And Permits ............................... 0 0 24,050 0
Intergovernmental Revenues ......................... 0 378,406 716,766 218,021
Charges For Services ............................... 537,830 0 56,425 0
Fines And Forfeits ................................. 0 0 0 0 '
Interest ........................................... 5,822 1,913 18,390 0
Miscellaneous Revenues ............................. 415,549 0 6,374 0
TOTAL REVENUES ....................................... $ 5,602,934 —$_..::::.380'319 $ 2,745,306„''$ 218,021
EXPENDITURES '
Current:
General Government ............................... $ 1,397,940 $ 0 $ 0 $ 0
Transportation ................................... 137,948 43,961 2,842,568 0 '
Economic Environment ............................. 448,178 0 0 148,696
Culture and Recreation ........................... 3,521,022 0 0 0
Capital Outlay ..................................... 15,035 0 33,805 69,325
TOTAL EXPENDITURES $ 5,520,123 $ 43,961 $ 2,876,373 $ 218,021
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 82,811 $ 336,358 $ (131,067) $ 0
OTHER FINANCING SOURCES (USES)
Operating Transfers In ............................. $ 0 $ 0 $ 0 $ 0
Operating Transfers (Out) ....... .... .. .... (16,600) (340,000) 0 0 ,
TOTAL OTHER FINANCING SOURCES (USES) ............r..... $ (16,600) $ ( 4D,1QO _.: S 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 66,211 $ (3,642) $ (131,067) $ 0
FUND BALANCE JANUARY 1 ............................... 247,822 49,813 651,364 0
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers Out ...................... 0 0 0 0
FUND BALANCE DECEMBER 31 .. .'...................... $ 314,033 $ 46,171 $ 520,297 S 0
40
City of Renton 1992 CAFR
r
Page 2 of 2
nr
ONE CABLE TOTALS -
air IMPACT LIBRARY PATHS PERCENT COMMUNICATIONS
MITIGATION & TRAILS FOR ART DEVELOPMENT 1992 1991
$ 5,394,583 $ 885,000 $ 0 $ 0 $ 0 $12,846,617 $ 8,755,949
0 0 0 0 0 24,050 13,415
0 0 3,577 0 0 1,316,770 1,113,472
0 14,649 0 0 0 608,904 483,304
0 17,306 0 0 0 17,306 14,933
191,482 13,965 436 1,526 18,181 251,715 209,741
0 1,634 0 0 0 423,557 397,840
$ 5,586,065---f 932,554 $ "4,013 $ 1,526 $ 18,181 515,488,919 $ 10,988,654'
$ 0 $ 0 $ 0 $ 0 $ 0 $ 1,397,940 $ 1,414,813
49,599 0 0 0 0 3,074,076 2,819,625
0 0 0 0 0 596,874 415,820
0 770,068 0 0 0 4,291,090 4,026,495
4,264,144 159,810 0 2,164 0 4,544,283 265,397
$ 4,313,743 $ 929878 $ 0 $ 2,164 $ 0 $13,904,263 $ 8,942,150
.Y $ 1,272,322 $ 2,676 $ 4,013 $ (638) $ 18,181 S 1,584,656 $ 2,046,504
$ 741,238 $ 0 $ 0 $ 0 $ 0 $ 741,238 $ 0
(58,088) 0 0 0 (67,887) (482,575) (565,135)
$ 683150 $ 0 $ fl $ 0 $ (67,887) S 258,663 S (5650351
$ 1,955,472 $ 2,676 $ 4,013 $ (638) $ (49,706) $ 1,843,319 $ 1,481,369
2,638,909 269,937 11,191 38,455 343,031 4,250,522 2,766,017
0 0 0 0 0 0 3,411
0 0 0 0 0 0 (275)
$``4,594,381 $ 272,613 $' 25'204. S
.a
41
City of Renton 1992 CAFR '
SPECIAL REVENUE FUNDS Page 1 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL '
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
PARK
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL ,
REVENUES
Taxes .............................................. $ 4,822,971 $ 4,643,733 $ (179,238) $ 4,493,673 '
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 0 0 0 (35,081)
Charges For Services ............................... 458,550 537,830 79,280 449,419
Fines And Forfeits ................................. 0 0 0 0 ,
Interest ........................................... 7,000 5,822 (1,178) 6,507
Miscellaneous Revenues ............................. 381,403 415,549 34,146 394,290
TOTAL REVENUES ....................................... $ 5,669,924' '$ 5,602,934 $ (66,990) $ ' 5,308,808
EXPENDITURES '
Current:
General Government $ 1,439,725 $ 1,397,940 $ 41,785 $ 1,414,813
Transportation ................................... 138,023 137,948 75 127,422 ,
Economic Environment ............................. 452,402 448,178 4,224 415,820
Culture and Recreation ........................... 3,664,995 3,521,022 143,973 3,319,230
Capital Outlay ..................................... 10,600 15,035 (4,435) 37,076
TOTAL EXPENDITURES ................................... $ 5,705,745 $ 5,520,123 $ 185,622: $ 5,314,361
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (35,821) $ 82,811 $ 118,632 $ (51553)
OTHER FINANCING SOURCES (USES)
Operating Transfers In ............................. S 0 $ 0 $ 0 $ (18,300) ,
Operating Transfers (out) .......................... (16,600) (16,600) 0 0
TOTAL OTHER' FINANCING,SOURCES (USES) ........IL $ :: (.16::600) r,$ (16,600) '$
EXCESS (DEFICIENCY) OF REVENUES �.`....$... (18,300)
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (52,421) $ 66,211 $ 118,632 $ (23,853)
FUND BALANCE JANUARY 1 ............................... 295,906 247,822 (48,084) 268,539
Residual Equity Transfers In ....................... 0 0 0 3,411
Residual Equity Transfers (Out) .................... 0 0 0 (275)
FUND BALANCE DECEMBER 31 $ 243;485 $ 314,033 $ 70r548 $ 247,822 '
42
City of Renton 1992 CAFR
Page 2 of 7
ARTER3At STREET
STREET
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
..r
$ 0 $ 0 $ 0 $ 0 $ 1,963,208 $ 1,923,301 $ (39,907) $ 2,086,934
0 0 0 0 10,000 24,050 14,050 13,415
377,837 378,406 569 436,180 724,847 716,766 (8,081) 708,872
0 0 0 0 54,151 56,425 2,274 19,861
0 0 0 0 0 0 O 0
8,000 1,913 (6,087) 15,407 25,000 18,390 (6,610) 18,413
0 0 0 0 0 6,374 6,374 756
$ 385,837_ $ 380,319 $ >(5,518) $ 451,587 $ 2,777,206 $ 2;745,306 -$ (31,900) $>2,848,251
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
37,516 43,961 (6,445) 111,474 3,257,239 2,842,568 414,671 2,515,271
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
_ 0 0 0 0 33,482 33,805 (323) 37,587
$ 37,516', $ 43,961 $ (6,445) $ 111,474 $ 3,290721 $ 2,876,373 $ '' 414,348 $ <2,552 .8
$ 348,321 $ 336,358 $ (11,963) $ 340,113 $ (513,515) $ (131,067) $ 382,448 $ 295,393
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
(340,000) (340,000) 0 (488,143) 0 _ 0 0 0
$ (340,000) $ '(340,000)::: $ 0': f X488 :143) $ 0 $ 0 $ 0 v $ 0
$ 8,321 $ (3,642) $ (11,963) $ (148,030) $ (513,515) $ (131,067) $ 382,448 $ 295,393
30,589 49,813 19,224 197,843 678,242 651,364 (26,878) 355,971
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
S 49:: 164,727 $ S20r29: 3''::. 35S,57Q $ 65164
W
43
City of Renton 1992 CAFR
SPECIAL REVENUE FUNDS Page 3 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual '
Totals for Year Ended December 31, 1991
COMM DEVELOPMENT-BLOCK.GRANTS>
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES ww
Taxes .............................................. $ 0 $ 0 $ 0 $ 0
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 397,280 218,021 (179,259) 0
Charges For Services ............................... 0 0 0 0
Fines And Forfeits ................................. 0 0 0 0 ,
Interest .......................................... 0 0 0 0
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES ....................................... $ 397,280 $ 218,021 $ (179,259) '$ 0
EXPENDITURES
Current: W.
General Government ............................... $ 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0
Economic Environment ............................. 176,528 148,696 27,832 0
Culture and Recreation ........................... 0 0 0 0 r
Capital Outlay ..................................... 220,752 69,325 151,427 0
TOTAL EXPENDITURES ................................... $ 397,280 $ 218;021 $ 1:79,259 a' $ Oi
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 0 $ 0 $ 0 $ 0
OTHER FINANCING SOURCES (USES)
Operating Transfers In ............................. $ 0 $ 0 $ 0 $ 0
Operating Transfers (Out) 0 0 0 0
TOTAL OTHER F I NANCtN&.SOURCE.S.:RUSES) $ 0 $; 0 .. ;:$ ........:...:.. 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 0 $ 0 $ 0 $ 0
FUND BALANCE JANUARY 1 ............................... 0 0 0 0
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (out) .................... 0 0 0 0
FUND BALANCE'DECEMBER'31> ...... $ 0 $'
.w.
4G
City of Renton 1992 CAFR
Page 4 of 7
IMPACT: MITIGATION :>;<>`'` ;a>.> >;.'<:' . "iBRAR
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
w
$ 4,737,180 $ 5,394,583 $ 657,403 $ 1,152,430 $ 885,000 $ 885,000 $ 0 $ 1,022,053
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 12,500 14,649 2,149 14,024
0 0 0 0 13,700 17,306 3,606 14,933
150,000 191,482 41,482 138,734 2,000 13,965 11,965 5,940
0 0 0 0 1,500 1,634 134 2,794
$ 4,887,180 �$ `;5,586,065 $ 698,885 $ 1,291,164: ' $ '914,700 $ 932,554 $ 17,854 :' $ 1;059,744
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
2,244,841 49,599 2,195,242 65,458 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 801,521 770,068 31,453 707,265
5,800,545 4,264,144 1,536,401 34,351 144,000 159,810 (15,810) 148,983
$ 8,045,386 S 4,313;743 $ 3,731,643 S 99,809 :S...>945,521 $ 929,878
$ (3,158,206) S 1,272,322 $ 4,430,528 $ 1,191,355 $ (30,821) $ 2,676 $ 33,497 $ 203,496
$ 741,238 $ 741,238 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
�. (28,409) (58,088) (29,679) 0 0 0 0 0
$ 712,829 $ 683,150 $ (29,679) $ 0 i $ 0 $ 0 $ 0 " $ 0-
$ (2,445,377) $ 1,955,472 $ 4,400,849 $ 1,191,355 $ (30,821) $ 2,676 $ 33,497 $ 203,496
2,595,377 2,638,909 43,532 1,447,554 279,173 269,937 (9,236) 66,441
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 150,400::' S :4,594; $1 '6 ::1�,lrtr4;381
$
35 272,613.:::_ ... .:: r2.� r...$.....,264,93T
45
City of Renton 1992 CAFR ,
SPECIAL REVENUE FUNDS Page 5 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL '
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
PATHS AND TRAILS
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 $ 0 $ 0 '
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 3,500 3,577 77 3,501
Charges For Services ............................... 0 0 0 0
Fines And Forfeits ................................. 0 0 0 0 '
Interest ........................................... 200 436 236 322
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES .. .............................. $ 3,700 $ 4,013 $ 313 $ 3,823
EXPENDITURES
Current:
General Government ............................... $ 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0 '
Economic Environment ............................. 0 0 0 0
Culture and Recreation ........................... 0 0 0 0
Capital Outlay0 0 0 0
.....................................
TOTAL EXPENDITURES ....... $ 0 $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 3,700 S 4,013 $ 313 $ 3,823
OTHER FINANCING SOURCES (USES)
Operating Transfers In ............................. $ 0 $ 0 $ 0 $ 0
Operating Transfers (Out) .......................... 0 0 0 0
TOTAL OTHER FINANCING..SwRClr :LUS£S) ................'r.` $ 0 $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 3,700 $ 4,013 $ 313 $ 3,823
FUND BALANCE JANUARY 1 ............................... 11,191 11,191 0 7,368
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) 0 0 0 0
....................
FUND BALANCE DECEMBER 31 15,204 313;;': t
41,1:9.1
A
46
City of Renton 1992 CAFR
Page 6 of 7
NE.PERCENT FOR ART CABiE:;GDMMUNICA7I0N :DEVELflPMENT
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL_
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 859
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
1,000 1,526 526 1,624 20,000 18,181 (1,819) 22,794
0 -- 0 0 0 0 0 _ 0 0
$ 1,000 $ 1,526 $ 526 $ 1,624 $ 20,000 $ 18,181 $ (1,819) $ 23,653',
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
39,221 2,164 37,057 7,400 0 0 0 0
$ 39,221 $ 2,164 $ 37 057 : $ ;: .400 ; E 0 $ 0„': S 0 0
$ (38,221) $ (638) $ 37,583 $ (5,776) $ 20,000 $ 18,181 $ (1,819) $ 23,653
$ 0 $ 0 $ 0 $ 0 E 0 $ 0 $ 0 $ 0
�. 0 0 0 0 (67,887) (67,887) 0 (58,692)
$ 0 $ 0 $ 0 $ 0''' $ t67,887) $ (67.887):::.:$ 0 $ (58,692)
$ (38,221) $ (638) $ 37,583 $ (5,776) $ (47,887) $ (49,706) $ (1,819) $ (35,039)
38,221 38,455 234 44,231 339,805 343,031 31226 378,070
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 0 E X7,817 Z 37,817 S 38,45 t 291,418 ..,.293, 25 .:; S. #,407::, 5.:;: 4 ,031 :
47
City of Renton 1992 CAFR
SPECIAL REVENUE FUNDS Page 7 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991 �r
70TAI S
VARIANCE ,
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 12,408,359 $ 12,846,617 $ 438,258 $ 8,755,949
Licenses And Permits ............................... 10,000 24,050 14,050 13,415
Intergovernmental Revenues ......................... 1,503,464 1,316,770 (186,694) 1,113,472
Charges For Services ............................... 525,201 608,904 83,703 483,304
Fines And Forfeits ................................. 13,700 17,306 3,606 14,933
Interest ........................................... 213,200 251,715 38,515 209,741
Miscellaneous Revenues 382,903 423,557 40,654 397,840
TOTAL REVENUES . .... ........................ $ 15,056,827 $ 15,488,919 $ 432,092 $10,988,654
EXPENDITURES
Current:
General Government ............................... $ 1,439,725 $ 1,397,940 $ 41,785 $ 1,414,813
Transportation ................................... 5,677,619 3,074,076 2,603,543 2,819,625
Economic Environment 628,930 596,874 32,056 415,820
Culture and Recreation ........................... 4,466,516 4,291,090 175,426 4,026,495
Capital Outlay ..................................... 6,248,600 4,544,283 1,704,317 265,397
TOTAL EXPENDITURES . ............................... $-18,461,390 $ ;:13,904:;263 $ 4,557,127 $ 8,942,150'''
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (3,404,563) $ 1,584,656 $ 4,989,219 $ 2,046,504
OTHER FINANCING SOURCES (USES)
Operating Transfers In ............................. $ 741,238 $ 741,238 $ 0 $ (18,300)
Operating Transfers (Out) .......................... (452,896) (482,575) (29,679) (546,835)
TOTAL OTHER FINANGiN&'SOURCES (USES) .:'............... $ ! 2881342 $ 258;663 $ ('29,679) > $ (565,135)'
_._
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (3,116,221) $ 1,843,319 $ 4,959,540 $ 1,481,369
FUND BALANCE JANUARY 1 ............................... 4,268,504 4,250,522 (17,982) 2,766,017
Residual Equity Transfers In ....................... 0 0 0 3,411
Residual Equity Transfers (Out) .................... 0 0 0 . (275)
FUND BALANCE DECEMBER 31 '...... ......................
48
City of Renton 1992 CAFR
r
DEBT SERVICE FUNDS
Debt Service Funds account for the accumulation of resources for, and
the payment of principal and interest for the Citys general obligation long
term debt and special assessment debt. The City of Renton pledges its
full faith and credit for payment of these obligations. Resources for
r redemption of council-approved (limited) issues are from the general
property tax levy. Revenue for voter-approved (unlimited) debt service
obligations originates from a special property tax levy. Resources for the
payment of the special assessment debt are from assessments levied
,r against benefited properties. The outstanding amount is recorded in the
General Long Term Debt Account Group.
1978 LIMITED GENERAL OBLIGATION BOND REDEMPTION FUND-
r
Accounts for debt service on a Council-approved bond issue, which
provided partial funding for construction of the Renton Senior Citizens'
Center.
1989 LIMITED GENERAL OBLIGATION REFUNDING BOND
r' REDEMPTION FUND-Accounts for debt service on a Council-approvers
refunding bond issue, which refunded the 1983 limited refunding bond
issue.
�. 1983 UNLIMITED GENERAL _OBLIGATION REFUNDING BOND
REDEMPTION FUND - Accounts for debt service on an unlimited
refunding bond issue,which refunded the 1980 and 1982 voter-approved
bond issues. Bond proceeds financed the development of Gene Coulon
Memorial Beach Park.
GENERAL GOVERNMENT MISCELLANEOUS DEBT SERVICE FUND
- Accounts for debt service on installment contracts for equipment, City
r Shop land purchase,the 1984 and 1985 Limited General Obligation Bond
issues for equipment, and the 1986 Limited Bond issued to finance a
community center, library improvements, permanent financing for
purchase of a golf course, acquisition of wetlands property, and
_ equipment.
1989 UNLIMITED GENERAL OBLIGATION BOND REDEMPTION
FUND-Accounts for debt service on a voter-approved bond issue,which
provided financing to acquire, construct, rehabilitate, equip and develop
low income housing for the elderly.
SPECIAL ASSESSMENT DEBT FUND - This fund accounts for the
special assessment collections and debt service payments for all local
improvement districts located within the City.
SPECIAL ASSESSMENT GUARANTY FUND - This fund was
' established in accordance with State law for the purpose of guaranteeing
the payment of outstanding Special Assessment Bonds and coupons.
1
' 49
City of Renton 1992 CAFR
DEBT SERVICE FUNDS Page 1 of 2
COMBINING BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 1989 LIMITED 1983 UNLIMITED
1978 LIMITED GO REFUNDING GO REFUNDING _
GO BONDS BONDS BONDS
ASSETS:
Cash and Cash Equivalents ........................ $ 61,430 $ 53,805 $ 335,389
Cash With Fiscal Agent ........................... 0 465 10,815
Investments ...................................... 0 0 50,000
Receivables:
Taxes .......................................... 0 0 25,063 t
Special Assessments Current .................. 0 0 0
Special Assessments Delinquent ............... 0 0 0
Special Assessments Deferred ................. 0 0 0
Interest - Special Assessments ................. 0 0 0 '
Interest on Investments ........................ 0 0 723
Due From Other Funds ............................. 0 0 2,837
TOTAL ASSETS $ 61,430 $: 54,270 3. 424,827'
LIABILITIES AND FUND EQUITY: '
LIABILITIES:
Matured Bonds Payable .......................... $ 0 $ 0 $ 0
Matured Interest Payable ....................... 0 465 10,815
Deferred Revenues 0 0 25,063 '
TOTAL LIABILITIES- $ 0 >(..:: 465 . 35,878,
FUND EQUITY:
Fund Balance: '
Reserved For Debt Service .......... $ 61,430 $ 53,805 $ 388,949
TOTAL FUND EQUITY' ._................................ $ 61,430 $ 53,805 $ 388,949
TOTAL LIABILITIES AND FUND EQUITY .................. $ 61,430 $ 54,27Q--::.:S -,:424,827
50
City of Renton 1992 CAFR
Page 2 of 2
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
...:........::...........
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1992 1991
$ 195,537 $ 296,864 $ 424,507 $ 214,363 $ 1,581,895 $ 1,107,141
0 0 55,000 0 66,280 137,368
�+ 25,000 0 1,580,000 550,000 2,205,000 1,650,382
0 18,839 0 0 43,902 59,837
0 0 606 0 606 606
+r 0 0 87,984 0 87,984 33,582
0 0 3,787,952 0 3,787,952 _ 5,721,972
0 0 10,615 0 10,615 11,556
64 0 26,294 18,633 45,714 32,723
15,703 2,128 0 0 20,668 21,282
$ - 236,304 '' $ 317,'831 $i 5;972,958 $ 782,996 $ 7,850,616 $ ' 8,776,449`
r $ 0 $ 0 $ 55,000 $ 0 $ 55,000 $ 130,000
0 0 0 0 11,280 7,368
0 _ 18,839 3,787,952 0 3,831,854 5,781,809
$ 0' $ 18,839 $' 3,842,952 $ - - 0 $ 3,898,134 $ 5,919,177-
$ --236,304
236,304_ $ 298,992 $ 2,130,006 $ 782,996 S 3,952,482 S 2,857,272
rrr $ 2.36 304 $ 298,992 $' 2,130;006 $ 782;996 $: 3;952,482_>i S ,.;2;857x,272
$ 236,304 $ 317,831 $ 5,972,958 $ 782?996 S;' 7:850 616::: $ 8.;776,449
r
r
w
51
City of Renton 1992 CAFR '
DEBT SERVICE FUNDS Page 1 of 2 '
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991 '
1989 LIMITED 1983 UNLIMITED
1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS BONDS BONDS '
REVENUES
Taxes .............................................. $ 79,445 $ 301,641 $ 691,302 '
Special Assessments ................................ 0 0 0
Interest ........................................... 751 247 13,684
TOTAL`;REVENUES .. $ 80,196 $ 301,888 $; 704,986
EXPENDITURES ,
Debt Service:
Principal Retirement ............................. $ 55,000 $ 130,000 $ 345,000 '
Interest & Fiscat Charges ........................ 22,288 154,953 475,853
TOTALEXPENDITURES ................................... $ 77,288 $ 284;.9.53 $; 820,853''
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 2,908 $ 16,935 $ (115,867) '
FUND BALANCE JANUARY 1 ..............I................ 58,522 36,870 504,816
FUND BALANCE DECEMBER 31 ..•......'.................... $ 61,430 $ 531*'805 $'' 3$8 949':
52 '
City of Renton 1992 CAFR
M
Page 2 of 2
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1992 1991
$ 873,268 $ 544,317 S 0 $ 0 $ 2,489,973 $ 2,702,689
`1 0 0 1,739,087 0 1,739,087 1,465,954
2,645 3,349 675,531 46,034 742,241 756,210
$ 875,913'' $ 547,666 S 2,414,618 $ 46,034 S 4,9714301 $ 41924,853
r
$ 438,341 $ 155,000 $ 983,000 $ 0 $ 2,106,341 S 2,232,827
340,768 361,816 414,072 0 1,769,750 1,962,398
$ 779,109'' $ 516,816 S 1,397,072.;, S 0> $ 3;876,091 $ 4,1951225 :
$ 96,804 $ 30,850 $ 1,017,546 $ 46,034 $ 1,095,210 $ 729,628
139,500 268,142 1,112,460 736,962 2,857,272 2,127,644
236,304': $ 298,992 $ 2,130,006 $ 7821996( 3 3,952,482 S 2',857,272'
53
City of Renton 1992 CAFR '
DEBT SERVICE FUNDS Page 1 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES, '
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
1978!:LiF!TYE.0 G N RAL, L:fAT1OI[ 9(fAID >::>: ......:::::
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL ,
REVENUES
Taxes .............................................. $ 79,445 $ 79,445 $ 0 $ 74,064 '
Special Assessments ................................ 0 0 0 0
Interest ........................................... 500 751 251 1,278
TOTAL REVENUES ...................................... $ 79,945 $ 80,196 $ 251 $ 75,342 '
EXPENDITURES
Debt Service:
Principal Retirement ............................. $ 55,000 $ 55,000 $ 0 $ 50,000 ,
interest 8 Fiscat Charges ........................ 22,288 22,288 0 24,993
TOTAL EXPENDITURES ................................... _$ 77,288 $ 'r 77,288 $ 0 $ 74,993
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 2,657 $ 2,908 $ 251 $ 349 ,
FUND BALANCE JANUARY 1 ............................... 58,522 58,522 0 58,173
FUND BALANCE DECEMBER 31 ............................. $ G1,1'79 $ 61;430 $ 251 $ 58:A,22-
54 ,
City of Renton 1992 CAFR
+r
km
Page 2 of 6
V
1989 LIMITED 'GENERAL OBLIGATION RE FUND ING.BOND 1983 UNLINITEO GENERAL OBLIGATION REFUNDING BOND:'
r VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 301,641 $ 301,641 $ 0 S 284,802 $ 694,682 $ 691,302 $ (3,380) $ 707,740
0 0 0 0 0 0 0 0
1,500 247 (1,253) 334 30,000 13,684 (16,316) 27,029
$ 303,141 $ 301,888 $ (1,253) S 285,136;1 $ 724,682 $ 704,986 S (19,696) S 7341769:
$ $ $ $
$ 130,000 $ 130,000 $ 0 $ 125,000 $ 345,000 $ 345,000 $ 0 $ 315,000
155,149 154,953 196 166,061 475,853 475,853 0 505,159
f S 285,149 S '284i951:--$ 196 S 291,061 $ 820,853< S 820,853 S 0= S :820,159::1_
$ 17,992 $ 16,935 $ (1,057) $ (5,925) $ (96,171) $ (115,867) $ (19,696) $ (85,390)
36,870 36,870 0 42,795 497,545 504,816 7,271 590,206
$ <54,862 $ 531805 S (11057)', $ 36,870 $ 401,374`` $ 388,949': S (12,425) S 504,816
10
r
10
Nr
im
an
r
IN
r
55
City of Renton 1992 CAFR ,
DEBT SERVICE FUNDS Page 3 of 6 '
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL ,
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
GENERAL 'GOVERNMENT>MISCELLANEOUSQEST '
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL ,
REVENUES
Taxes ............................................. $ 908,077 $ 873,268 $ (34,809) $ 856,975 '
Special Assessments ................................ 0 0 0 0
Interest ........................................... 3,000 2,645 (355) 3,248
TOTAL REVENUES............. $ ' 911,077 $ `875,913 $ (35,164) $ 860,223:::
EXPENDITURES '
Debt Service:
Principal Retirement .. $ 481,481 $ 438,341 $ 43,140 $ 466,827
Interest & Fiscal Charges .. 363,904 340,768 23,136 380,639 ,
TOTAL EXPENDITURES $ '';845,385 $ ;779,109;_> $ :66,276 $ 847,466::
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 65,692 $ 96,804 $ 31,112 $ 12,757
FUND BALANCE JANUARY 1 .. .. ................ 123,674 139,500 15,826 126,743 '
FUND BALANCE DECEMBER '31 ............................. $ ' 189,366 $ 236,304 $ 46.938: $ 139,500
56 '
City of Renton 1992 CAFR
Page 4 of 6
.r
1989 UNLIMITED GENERAL OBLIGATION BOND SPECIAL ASSESSMENT DEBT SERVICE'FUND
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABI.E> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
.r
$ 547,090 $ 544,317 $ (2,773) $ 779,108 $ 0 $ 0 $ 0 $ 0
rr 0 0 0 0 1,578,000 1,739,087 161,087 1,465,954
15,000 3,349 (11,651) 0 613,000 675,531 62,531 670,018
$ 562,090 $ 547,666 $ (14,424) $ 7791108 $ 2,191,000 $ '2,414,698 $ 223,618 S 2,135,972;
.r. $ $ $ $ $
$ 155,000 $ 155,000 $ 0 $ 145,000 S 823,000 $ 983,000 $ (160,000) $ 1,131,000
361,848 361,816 32 __375,979 919,766 414,072 505,694 509,567
.� $ 516,848 $ 516,816 $ 32'' $ 520,979 $ 1,742,766 :S.:1,397072 S< .345,694 $ :1,640,5b7';
$ 45,242 $ 30,850 $ (14,392) $ 258,129 $ 448,234 $ 1,017,546 $ 569,312 $ 495,405
265,283 268,142 2,859 10,013 1,046,085 1,112,460 66,375 617,055
$ 310,525 $ 298,992 $ (11,533') S 268,742.. $ 3',494,31:9 5:2,330;U06 $ 635,687 x;:1,112;460:::
r
r
57
City of Renton 1992 CAFR
DEBT SERVICE FUNDS Page 5 of 6 W
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
SPECIAL ASSSSMENT..0l1ARANTY. fUNO
VARIANCE ,
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES ..w
Taxes ...................... $ 0 $ 0 $ 0 $ 0
Special Assessments ................................ 0 0 0 0
Interest ........................................... 45,000 46,034 1,034 54,303
TOTAL REVENUES ........................................ $ 45,00046.;034 $ 1,034 ; $ .54,303''
EXPENDITURES '
Debt Service:
Principal Retirement ............................. $ 0 $ 0 $ 0 $ 0
Interest & Fiscal Charges ............... 0 0 0 '
. ......... ...
TOTAL EXPENDITURES ..... ....:................... $ 0`` $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 45,000 $ 46,034 $ 1,034 $ 54,303
FUND BALANCE JANUARY 1 ............................... 729,544 736,962 7,418 682,659
FUND BALANCE DECEMBER 31 $ >774,544 $782 996
58 '
City of Renton 1992 CAFR
•r
Page 6 of 6
.::TOTALS
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 2,530,935 S 2,489,973 $ (40,962) $ 2,702,689
1,578,000 1,739,087 161,087 1,465,954
708,000 742,241 34,241 756,210
S 4,816,935 $ 41971,301 S 154,366 $ 4;924,853
$ 1,989,481 $ 2,106,341 $ (116,860) $ 2,232,827
2,298,808 1,769,750 529,058 1,962,398
$ 4,288,289 I' $ 3,876,091 $ 412,198 $ 4,195,225 I:
$ 528,646 $ 1,095,210 $ 566,564 $ 729,628
2,757,523 2,857,272 99,749 2,127,644
r $ 3,12861169 ?; S 3j952,482' $ 666,313' $ '2,857,272!'.
i
•
59
r
City of Renton 1992 CAFR
City of Renton 1992 CAFR
Ow
CAPITAL PROJECT FUNDS
aw
Capital Project Funds account for the acquisition or development of major
capital facilities, except those projects financed by proprietary funds.
Sources of revenue to these funds include general obligation bond
proceeds, federal and state grants, general property taxes, interest
aw earnings,and transfers from other funds.
OPEN SPACE CAPITAL IMPROVEMENT FUND - Accounts for open
space bond funds received from King County and other grants for the
purpose of preserving open space. The bond funds were approved by
voters in the fall of 1989 and available for use in May, 1990. Some of the
projects are: Honey Creek Trail, Springbrook Trail, Cedar River Trail and
Lake Washington Waterfront projects.
MUNICIPAL FACILITIES CONSTRUCTION FUND - Accounts for the
acquisition and development of municipal facilities. Resources included
general and special revenue taxes and Council approved general
obligation bonds.
GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND -
Accounts for revenues and expenditures for numerous capital
improvement projects, to provide infrastructure necessary for controlled
aw growth and to address general City needs. Primary resources include
general tax revenues, business license fees, Federal and State grants,
general obligation bond proceeds, and transfers from various cumulative
reserve funds.
r.
SENIOR HOUSING CONSTRUCTION FUND - Accounts for the
acquisition, construction, rehabilitation, development, and equipment
purchases of low income housing and facilities for the elderly. Resources
r are from a 1989 voter-approved general obligation bond issue.
SPECIAL ASSESSMENT CONSTRUCTION FUND - This fund
accounts for the construction phase of all Special Assessment local
aw improvement districts(LID)located within the City. The primary resource
for this activity is short-term debt or interfund loans which are repaid with
permanent financing once the construction of the LID is complete.
t
61
City of Renton 1992 CAFR
CAPITAL PROJECT FUNDS Page 1 of 2 r
COMBINING BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 OPEN SPACE MUNICIPAL SENIOR
CAPITAL FACILITIES CAPITAL HOUSING -
IMPROVEMENT CONSTRUCTION IMPROVEMENT CONSTRUCTION
ASSETS:
Cash and Cash Equivalents ........................ $ 1,055,240 $ 160,828 $ 133,650 $ 44,892
Investments ...................................... 525,076 1,260,000 4,227,027 870,000
Receivables:
Interest on Investments ........................ 2,078 6,189 87,653 18,439
Due From Other Funds .. 0 15,604 0 0
Due From Other Governmental Units ................ 88,092 0 235,766 0
TOTAL ASSETS-....................................... $ 1,670,486 $ ;,1,442,621 $, 4,684;096 $ 933,331 •
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ..................... $ 321 $ 243,691 $ 45,691 $ 238,356
Retainage Payable .............................. 0 1,955 56,579 0
Due To Other Funds ............................. 4,980 0 10,100 0
Due To Other Governmental Units ................ 0 0 0 0 ,
Deferred Revenues .............................. 1,659,638 0 25,469 0
Accrued Employee Leave Benefits ................ 0 0 0 105
'TOTAL LIABILITIES .................................. $ 1,664,939 $ 245,646 $ 137,839 $ 238,461''
FUND EQUITY '
Fund Balance:
Reserved For Arbitrage Rebate ................ $ 0 $ 0 $ 41,788 $ 289,207
Unreserved - Undesignated 5,547 1,196,975 4,504,469 405,663 '
TOTAL FUND EQUITY .................................. $ 5,547 $ 1,196,975 $ 4,546,257 $ 694,870'
TOTAL LIABILITIES AND FUND EQUITY...................' $ 1,670,486 $ : 1,442,621 4,'684,096 $ 933,331
62 r
City of Renton 1991 CAFR
Page 2 of 2
SPECIAL TOTALS
ASSESSMENT
CONSTRUCTION 1992 1991
$ 1,712,975 $ 3,107,585 $ 1,643,991
0 6,882,103 9,489,829
0 114,359 165,669
0 15,604 1,444
0 323,858 188,115
$ 1,712,975 $ 10,443,509 $ '11 489,048
.. $ 3,468 $ 531,527 $ 469,889
0 58,534 101,970
0 15,080 12,968
0 0 8,798
0 1,685,107 329,345
0 105 1,953
$ 3,468 _$ 2,290,353 $ _ _924,923
$ 0 $ 330,995 $ 205,812
_ 1,709,507 7,822,161 10,358,313
_$ 1,709,507 $ 8,153,156 $ '10,564,125
.. $ 1,712,975 - $ 10,443,509 $ 11,489,048'
sr
r
i
i
r
63
i
City of Renton 1992 CAFR
CAPITAL PROJECT FUNDS Page 1 of 2
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991 '
OPEN SPACE MUNICIPAL
CAPITAL FACILITIES CAPITAL
IMPROVEMENT CONSTRUCTION IMPROVEMENT
REVENUES
Taxes .............................................. $ 0 $ 548,285 $ 0 '
Licenses And Permits ............................... 0 0 2,077,755
Intergovernmental Revenues ......................... 523,304 0 954,807
Charges For Services ............................... 0 0 52?
Interest ... .... ... ... .. ... .. 2,078 20,379 68,542 ,
Miscellaneous Revenues 0 7,058 40
TOTAL REVENUES ..... ... ... ... ... $ — 525,382 "'' '$ 575,722 $ 3,101,671
EXPENDITURES '
Current:
General Government ............................... $ 0 $ 37,165 $ 0
Transportation ................................... 0 0 1,591,042
Capital Outlay ..................................... 186,422 1,309,169 0 ,
Debt Service:
Principal Retirement ............................. 0 0 0
Interest & Fiscal Charges ........................ 0 20,381 0
TOTAL EXPENDITURES ... $ 186,422 $ 1,366,715 $ 1,591,042
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 338,960 $ (790,993) $ 1,510,629
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 1,051,050 $ 0
Operating Transfers In ... .... .. 0 320,706 340,000 '
Operating Transfers (Out) ..... (333 413) (177,395) (411,231)
TOTAL OTHER f.INANCING SOURCES (USES) .....7
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 5,547 $ 403,368 $ 1,439,398
FUND BALANCE JANUARY 1 ............................... 0 46,932 3,853,534
Residual Equity Transfers In ....................... 0 746,675 0
Residual Equity Transfers Out ...................... 0 0 (746,675)
FUND BALANCE DECEMBER'31 ... $ 5 547 "(` x.;196,975 $ 4,546,257
64 ,
City of Renton 1992 CAFR
Page 2 of 2
im
IIs SENIOR SPECIAL TOTALS
HOUSING ASSESSMENT
CONSTRUCTION CONSTRUCTION 1992 1991
r
$ 0 S 0 E 548,285 S 252,666
r 0 0 2,077,755 1,975,825
0 0 1,478,111 623,949
0 0 527 1,386
200,459 19,860 311,318 757,484
5,000 1,814,770 1,826,868 43,140
$ ' 205„459 $ 1,834,630 : $ 6,242,864 $ 3,654,45V
$ 0 $ 0 $ 37,165 $ 0
0 1,213,967 2,805,009 3,451,485
4,972,225 0 6,467,816 1,385,059
0 0 0 600,000
0 180,139 200,520 42,524
$ 4,972,225 $ 1,394,106 $ '9,510,510>: $ 5,479,068'x'
in $ (4,766,766) $ 440,524 $(3,267,646) $ (1,824,618)
$ 0 $ 0 $ 1,051,050 $ 3,200,000
0 66,960 727,666 556,443
0 0 (922,039) 0
$? 0 $ 66,960 $ 856,677` S 3,756,443::'
$ (4,766,766) $ 507,484 $(2,410,969) $ 1,931,825
>rll
5,461,636 1,202,023 10,564,125 8,632,300
0 0 746,675 0
0 0 (746,675) 0
� $:> 694,870 <� 1,7Q9,507 $ 8,>'153,156> S 10;564;125:::
r
on
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65
City of Renton 1992 CAFR '
CAPITAL PROJECTS FUNDS Page 1 of 4
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
OPEN SPACE GAPITAI 1MFROVEMEN?
... ...
VARIANCE '
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes ....................... $ 0 $ 0 $ 0 $ 0 '
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 5,239,247 523,304 (4,715,943) 341,178
Charges For Services ............................... 0 0 0 0
Interest ...... .. .. 0 2,078 2,078 0 ,
Miscellaneous Revenues .. 0 0 0 0
TOTAL REVENUES ........ >...... .......r.......::....... $ 5,239,247 $ 525,382 $ (4,713,865) $ 341,178
EXPENDITURES '
Current:
General Government ............................... $ 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0
Capital Outlay ..................................... 5,155,391 186,422 4,968,969 341,178 ,
Debt Service:
Principal Retirement ............................. 0 0 0 0
Interest & Fiscal Charges ........................ 0 0 0 0
TOTAL XPENDITURES $ ::5;155;341 $ 4$6 k2Z $ x;;9:68,964:' :S 34,1,178 z:
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 83,856 $ 338,960 $ 255,104 $ 0
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 S 0 $ 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) .......................... (333,413) (333,413) 0 0
TOTAL OTHER`FINANCING SOURCES (USES) ................. $ (333,413) 'S (333;;;4113) $ 0 $ D '
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (249,557) $ 5,547 $ 255,104 $ 0
FUND BALANCE JANUARY 1 ............................... 249,557 0 (249,557) 0
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) 0 0 0 0
FUND SALANCE.DECEMBER 311 ;:,.,.;,,.,.;,.,. $ 0 S 5:;547 ; 5,547 $ 0' '
City of Renton 1992 CAM
Page 2 of 4
MUNICIPAL: CACTL:TTIES CONSTRUCTION ......AP3CAI ilIPROVEMENXS. >#s >» >'
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
i
$ 517,624 $ 548,285 $ 30,661 $ 0 $ 0 $ 0 $ 0 $ 252,666
0 0 0 0 1,955,000 2,077,755 122,755 1,975,825
i 75,000 0 (75,000) 0 1,801,588 954,807 (846,781) 282,771
0 0 0 0 1,000 527 (473) 1,386
200 20,379 20,179 2,389 0 68,542 68,542 262,440
8,737 7,058 (1,679) 0 0 40 40 42,016
$ 601,561 $ '575,722 $ (25,839) $ 2,389 S 3,757,588 $ 3,101,671 $ (655,917) $ 2,817,104'
+�. $ 0 $ 37,165 $ (37,165) $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 6,531,302 1,591,042 4,940,260 1,595,142
2,518,477 1,309,169 1,209,308 0 0 0 0 230,375
ki 47,300 0 47,300 0 0 0 0 0
0 20,381 (20,381) 0 12,108 0 12,108 0
$ 2,565,777 `: S 1'',366,715 $ 1.,199,062:' S 0
W.. $(1,964,216) $ (790,993) S 1,173,223 S 2,389 S(2,785,822) S 1,510,629 $ 4,296,451 S 991,587
$ 1,051,050 $1,051,050 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
320,706 320,706 0 0 340,000 340,000 0 556,443
(177,395) (177,395) 0 0 (411,231) (411,231) 0 0
S , : 0441194361 $1,194,361 $ 0S 0 $ i33
$ (769,855) $ 403,368 $ 1,173,223 $ 2,389 $(2,857,053) $ 1,439,398 $ 4,296,451 $ 1,548,030
46,510 46,932 422 44,543 3,724,112 3,853,534 129,422 2,305,504
746,675 746,675 0 0 0 0 0 0
0 0 0 0 (746,675) (746,675) 0 0
$ 23,330 51;196,475 >: $ 1;1734645': $
67
City of Renton 1992 CAFR
CAPITAL PROJECTS FUNDS Page 3 of 4
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL '
YEAR ENDED DECEMBER 31, 1992, With Comparative Actual
Totals for Year Ended December 31, 1991
SE.N.,3.QR }iOUSING CONSTRUC72t1N FUND >< ,
VARIANCE
FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 $ 0 $ 0 ,
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 0 0 0 0
ChargesFor Services ............................... 0 0 0 0
Interest .... .... .... ..... 235,000 200,459 (34,541) 415,594
Miscellaneous Revenues .. .. ... 23,000 5,000 (18,000) 1,124
TOTAL REVENUES ....................................... $ 258,000 $ 205,459 $ (52,541) $ 416;718
EXPENDITURES
Current:
General Government ............................... $ 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0
Capital Outlay ..................................... 5,796,895 4,972,225 824,670 813,506
Debt Service:
Principal Retirement ............................. 0 0 0 0
Interest & Fiscal Charges ........................ 250,150 0 250,150 0
TOTAL EXPENDITURES ..................>:. .....1f...... .. $ >d;:047 945 $; 4;972;:225 $ 1;074 820 $ 8:13,506<:
EXCESS (DEFICIENCY) OF REVENUES '
OVER EXPENDITURES .................................... $ (5,789,045) $(4,766,766) $ 1,022,279 $ (396,788)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0 ,
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) 0 0 0 0
TOTAL OTHER FINANCING.SOURCES;IUSES) ........ ..:. ... 5,;;: 0 $ D $ U..;;.5, 0':
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (5,789,045) $(4,766,766) $ 1,022,279 $ (396,788)
FUND BALANCE JANUARY 1 ............................... 5,789,045 5,461,636 (327,409) 5,858,424
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) .... 0 0 0 0
FUND BALANCE DECEMBER 31 ...... $ 0 ;S, 69.4.;870 $ 6i14,$7(f $ 5,461,6361
68
3
City of Renton 1992 CAFR
V
Page 4 of 4
1
-f
;; .. :SPECIAL.ASSESSMENT CONSTRUCT.I;QN FUND,,:>.
TOTALS
VARIANCE VARIANCE
FAVORABLE 1991 FAVORABLE 1991
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 517,624 $ 548,285 $ 30,661 $ 252,666
0 0 0 0 1,955,000 2,077,755 122,755 1,975,825
0 0 0 0 7,115,835 1,478,111 (5,637,724) 623,949
0 0 0 0 1,000 527 (473) 1,386
50,000 19,860 (30,140) 77,061 285,200 311,318 26,118 757,484
1,814,769 1,814,770 1 0 1,846,506 1,826,868 (19,638) 43,140
$ 1,864,769 $ 1,834,630 $ '(30,139)' $ 77,061 $ 11,721,165 $ 6:242:864 $(5,478,301) $ 3,654,450
.. $ 0 $ 0 $ 0 $ 0 $ 0 $ 37,165 $ (37,165) $ 0
1,287,721 1,213,967 73,754 1,856,343 7,819,023 2,805,009 5,014,014 3,451,485
0 0 0 0 13,470,763 6,467,816 7,002,947 1,385,059
1,512,769 0 1,512,769 600,000 1,560,069 0 1,560,069 600,000
302,000 180,139 121,861 42,524 564,258 200 520 363,738 42,524
$ 3;1A2,490 $.1,394,106 $1,?08,384 $ 2;498,867: $' .23.4141:13.. $ '4,Sf0,310 5::13;903,603 �a,479;06&t
$(1,237,721) $ 440,524 $1,678,245 $(2,421,806) S(11,692,948) $(3,267,646) S 8,425,302 $ (1,824,618)
$ 0 $ 0 $ 0 $ 3,200,000 $ 1,051,050 S 1,051,050 $ 0 $ 3,200,000
27,034 66,960 39,926 0 687,740 727,666 39,926 556,443
_ 0 0 0 0 (922039) (922,039) 0 0
$ 27,034 $ 66,960 $ 39,926 $ 3;200,000`` S 816;751 $ 856;677 $ 39,926. $ 3,756,443
$(1,210,687) $ 507,484 $1,718,171 $ 778,194 $(10,876,197) $(2,410,969) $ 8,465,228 $ 1,931,825
1,210,687 1,202,023 (8,664) 423,829 11,019,911 10,564,125 (455,786) 8,632,300
0 0 0 0 746,675 746,675 0 0
0 0 0 0 (746,675) (746,675) 0 0
�^- $ 0
City of Renton 1992 CAFR
70 '
City of Renton 1992 CAFR
ENTERPRISE FUNDS
r Enterprise funds are established for government activities that are
financed and operate in a manner similar to private business. Costs of
providing services to the general public are primarily financed by user
fees.
WATERWORKS UTILITY FUND - Accounts for the operation and
capital improvement programs for the water, wastewater (sewer) and
surface water(storm drainage services)within the City. Activities which
.. are primarily supported by user fees include, administration; billings and
collections; debt service; engineering; and operation, maintenance and
repairs. The primary resources for the capital improvement programs are
revenue bond proceeds,grants as available and utility collection charges.
a
AIRPORT FUND - Provides accounting for revenues and expenses
which provide administration, debt service, operation, capital
improvements,and maintenance of the Renton Municipal Airport and Will
Rogers-Wiley Post Memorial Seaplane Base. Sources of support to the
fund are leases, fuel charges, investment interest, and grant funding as
available.
SOLID WASTE UTILITY FUND-Solid waste, recycling,and yard waste
collection services for the City are accounted for in this fund, supported
entirely by service fees. Expenses include payment to the City's garbage
contractor and other service charges.
r GOLF COURSE FUND-The City acquired the Maplewood Golf Course
in 1985 and this fund was created to account for the operation,
maintenance, debt service, and capital improvements of this municipal
facility. User fees provide for operation and approximately 15% of debt
services. Operating transfers from the General Fund provide
approximately 85%of the debt service.
71
City of Renton 1992 CAFR '
ENTERPRISE FUNDS Page 1 of 2
COMBINING BALANCE SHEET
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 WATERWORKS AIRPORT SOLID WASTE ,
UTILITY UTILITY
ASSETS:
Current Assets:
Cash and Cash Equivalents ............................ $ 217,375 $ 248,621 $ 49,757 '
Cash With Fiscal Agent ............................. 1,969 0 0
Investments ........................................ 1,443,110 647,323 300,000
Receivables, net of Allowance for Uncollectibles:
Accounts ......................................... 1,399,738 54,697 1,012,703 ,
Interest on Investments .......................... 244,878 10,007 14,987
Due From Other Funds ............................... 2,076 0 1,384
Due From Other Governmental Units .................. 964,251 32,030 9,020
Inventory of Material and Supplies ................. 242,704 0 0
Prepaid Items ...................................... 0 3,938 0 '
Total Current Assets.............................. 4,516,101 996,616 1,387,851
Restricted Assets:
DeDosits ........................................... 20,480 0 0
Revenue Bond Debt Service .......................... 3,812,754 92,364 0
Construction Account ............................... 8,017,714 0 0
Total Restricted Assets........................... 11,850,948 92,364 0
Property, Plant and Equipment:
Fixed Assets (Net) ................................. 75,970,331 3,743,733 9,466 ,
Construction In Progress ........................... 6,437,662 454,486 0
Total Property, Plant and Equipment............... 82,407,993 4,198,219 9,466
Deferred Charges and Other Assets .................. 176,000 0 0
-TOTAL>-ASSETS !........................................... $98,951,042!: $5,1287,1991 $ 1',397,3117::
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers/Contracts Payable ..................... $ 539,090 $ 7,290 $ 451,656
Retainage Payable .............................. 19,283 33,924 0
Due To Other Funds ............................... 24,360 0 1,405
Interfund Loans/Advances - Current ............... 0 0 0
Due To Other Governmental Units .................. 9,420 0 0
Matured Interest Payable ......................... 1,969 0 0
Accrued Interest Payable ......................... 268,036 781 0
Accrued Wages Payable ............................ 19,049 0 839
Accrued Employee Benefits Payable ................ 2,112 0 105
Accrued Taxes Payable ............................ 73 22,686 29,511
Deferred Revenues ................................ 28,606 47,181 0
Total Current Liabilities....................... 911,998 111,862 483,516
Liabilities Payable from Restricted Assets:
Deposits Payable ................................. 20,480 0 0
General Obligation Bonds Payable - Current ....... 48,840 0 0
Revenue Bonds Payable - Current Portion .......... 1,070,000 50,000 0
Total Liabilities Payable From Restricted Assets 1,139,320 50,000 0
Long Term Liabilities:
General Obligation Bonds Payable ................. 526,335 0 0
Unamortized Discounts on G.O. Bond ............... (18,694) 0 0
Revenue Bonds Payable ............................ 21,425,000 0 0
Unamortized Discounts on Revenue Bond ............ (471,683) (309) 0
Accrued Employee Leave Benefits .................. 242,648 16,860 1,980
Interfund Loans/Advances - Non-Current ........... 0 0 0
Public Works Trust Fund Loan Payable 963,821 0 0
Arbitrage Rebate Tax Payable 7,465 0 0
Total Long Term Liabilities..................... 22,674,892 16,551 1,980
TOTAL LIABILITIES ...................... $24,726,210 $ 178,413 $ 4851496 '
FUND EQUITY:
Contributed Capital ................................ $ 65,417,499 $2,055,690 $ 0
Retained Earnings:
Reserved For Debt Service ........................ 1,950,685 54,083 0
Unreserved .. .. .. 6,856,648 2,999,013 911,821
TOTAL FUND EQUITY $74,224,832 $5,108,786 $ 911,821 :
TOTAL,LIABILITIES AND FUND EQUITY .............r......... $98,951,042 $5,287,199 $ :1,397,317
72
City of Renton 1992 CAFR
Page 2 of 2
TOTALS.
GOLF
COURSE 1992 1991
$ 23,609 $ 539,362 $ 841,868
0 1,969 2,391
280,000 2,670,433 1,343,450
11,755 2,478,893 2,207,079
2,183 272,055 202,363
131,215 134,675 212,813
0 1,005,301 701,234
0 242,70, 249,260
0 3,938 3,938
448,762 7,349,330 5,764,396
0 20,480 21,688
0 3,905,118 2,527,639
0 8,017,714 5,059,808
0 11,943,312 7,609,135
4,314,392 84,037,922 83,465,636
8,047 6,900,195 4,037,897
4,322,439 90,938,117 87,503,533
0 176,000 192,000
$4,771,201 $110;406,759 $101,069,064
.r
$ 17,353 $ 1,015,389 $ 964,288
0 53,207 68,014
0 25,765 96,466
9,209 9,209 89,683
0 9,420 109,348
0 1,969 2,391
17,774 286,591 323,914
891 20,779 28,655
111 2,328 0
7,284 59,554 44,859
0 75,787 25,659
52,622 1,559,998 1,753,277
0 20,480 21,688
246,420 295,260 273,980
0 1,120,000 895,000
246,420 1,435,740 1,190,668
.. 2,657,645 3,183,980 3,479,240
(75,681) (94,375) (104,397)
0 21,425,000 18,155,000
0 (471,992) (439,555)
25,128 286,616 184,556
39,890 39,890 49,099
0 963,821 76,301
0 7,465 6,945
Y, 2,646,982 25,340,405 21,407,189
$2,946,024 S 28,336,143 $ 24,351,134,;
$ 5,000 $ 67,478,189 S 64,215,527
0 2,004,768 1,701,507
1,820,177 12,587,659 10,800,896
$1,825,177 $ 82,0701616 "S 76,717,930
$4,771,201 $110,406,759 S 101,069,064';
73
City of Renton 1992 CAFR
ENTERPRISE FUNDS Page 1 of 2 r"
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
WATERWORKS AIRPORT SOLID WASTE
UTILITY UTILITY
OPERATING REVENUES:
Charges for Services ........................... $ 13,507,165 $ 539,371 $ 6,298,633
Other Operating Revenue .... 419,271 12,756 0
TOTAL OPERATING REVENUE .......................... $ 13,926,436 $ 552,127 $ 6,298,633
OPERATING EXPENSES:
Operations and Maintenance ..................... $ 7,540,855 $ 191,493 $ 5,378,282
Administrative and General ..................... 1,197,861 81,896 0
Insurance ...................................... 0 11,021 0
Taxes .......................................... 1,028,770 0 846,502
Depreciation ................................... 1,795,364 207,535 2,938
TOTAL OPERATING EXPENSES ......................... $ 11,562,850 $ 491,945 $ 6,227,722
OPERATING INCOME (LOSS)' .......................... ' $ 2,363,586 $ 60,182 $ 70,911 ,
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 640,407 $ 41,514 $ 31,323 ,
Other Non-operating Revenue .................... 74,868 13,211 20,345
Interest Expense ............................... (1,347,426) (3,828) 0
Arbitrage Expense .............................. (520) 0 0
Amortization of Debt Discount and Expense (46,847) (926) 0 '
NON-OPERATING REVENUE NET',IOF;EXPENSES $ (679,518) ' '$ 49,971' $ 51,668
INCOME (LOSS) BEFORE OPERATING TRANSFERS ... $ 1,684,068 $ 110,153 $ 122,579
OPERATING TRANSFERS IN .......................... 0 0 0 '
OPERATING TRANSFERS OUT .......................... 0 0 0
NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM $c' 1,684,068 $ 110,153' $ 122,579
EXTRAORDINARY LOSS ON ADVANCE REFUNDING ........ 384,077 0 0 '
NET INCOME (LOSS) ................................ $ 1,299,991 $ 110,153 $ 122,579
Depreciation Reducing Grant Contributed Capital. 0 121,331 0
INCREASE (DECREASE) IN RETAINED EARNINGS ......... $ 1,299,991 $ 231,484 $ 122,579;
RETAINED EARNINGS, JANUARY 1 ..................... $ 7,507,342 $ 2,821,612 $ 789,242 '
Prior Period Corrections ....................... 0 0 0
RETAINED EARNINGS, ',JANUARY' 1, RESTATED :'L......... $ 7$ 07,342 $ 2;$21,612 $ 789,242
RETAINED EARNINGS, DECEMBER 31 $ 8,807,333 $ 3,053,096 $ 911,821
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 62,798,515 $ 1,412,012 $ 0
Capital Grants ............................... 1,087,839 765,009 0
Amortization on Capital Grants ............... 0 (121,331) 0
Other Contributed Capital .................... 1,531,145 0 0
CONTRIBUTED CAPITAL, DECEMBER 31 $ 65,417,499 $ 2,0551690 $ 0`
FUND EQUITY, DECEMBER 31 ......................... $ 74,224,832 $ 5,108,786 $ 911,821
74
City of Renton 1992 CAFR
Page 2 of 2
TOTALS
GOLF
COURSE 1992 1991
$ 881,637 $ 21,226,806 $ 18,614,140
17,682 449,709 197,620
$ 899,319 $ 21,676,515 $ 18,811,760
$ 549,716 $ 13,660,346 $ 12,332,026
0 1,279,757 1,021,489
0 11,021 9,437
4,107 1,879,379 1,623,112
51,661 2,057,498 1,949,494
$ 605,484 $ 18,888,001 $ 'I 16,935,558'`
$ 293,835 $ 2;788,514 $ 1,876,202>'
$ 9,309 $ 722,553 $ 886,623
0 108,424 99,883
(231,262) (1,582,516) (1,657,424)
0 (520) (558)
(8,037) (55,810) (50,838)
$ (229,990) $ {807,8693 S (722,314)
S.I
63,845:...,-i': S. 1.980.645.
372,125 372,125 371,041
0 0 0
$ :4351970 $ 2,352,770 1,52fi,,929
0 384,077 0
$ 435,970 $ 1,968,693 $ 1,524,929
0 121,331 118,765
4.35,470 $ 2,090,024 $ 1,643;694
$ 1,384,207 $ 12,502,403 $ 10,858,709
0 0 0
$ 1,384,207 >10,858,7709
$ 1,820,177 _. _E.,-. 94592ik27 '12,502,403`
$ 5,000 $ 64,215,527 $ 62,538,286
0 1,852,848 478,132
0 (121,331) (118,765)
0 1,531,145 1,317,874
$'' 5,000 $ 67,478,189 $ ``64,215,527`''
$'' 1;825,177 $ '82,070;'616 $ >.76,717,930
City of Renton 1992 CAFR ,
ENTERPRISE FUNDS Page 1 of 4 ,
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
WATERWORKS AIRPORT SOLID WASTE ,
UTILITY
CASH FLOWS FROM OPERATING ACTIVITIES: '
Cash Received From Customers ................................. $ 13,075,027 $ 541,583 $ 6,144,271
Cash Received From Other Funds for Services .................. 344,834 0 7,826
Cash Paid to Suppliers for Goods and Services ................ (4,417,831) (161,080) (5,512,010)
Cash Paid to Other Funds for Goods and Services .............. (2,314,695) (62,076) (206,697) ,
Cash Paid to Employees ....................................... (1,980,226) (139,744) (80,940)
Cash Paid for City Utility Taxes ............................. (808,601) 0 (371,226)
Other Operating Receipts ..................................... 419,271 12,756 0
Other Non-Operating Receipts .................. 92,104 10,682 _ 207 '
NET'CASH'PROVIDED (USED) BY OPERATING ACTIVITIES $ '4,409,883 $'' 202,121 $ (18,569)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Grants Received .................................... $ 4,226 $ 37,711 $ 11,118
Operating Transfers From Other Funds ......................... 0 0 0 '
Repayments on Interfund Loans .... 0 0 0
NET CASH PROVIDED (USED) BY:NONCAPITAL FiNANCING;ACTIVITIES .... $ » 4 226 $ 37,711 $ 11,118
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: ,
Proceeds From Sale of Bonds .................................. $ 3,929,064 $ 0 $ 0
Payments on Bond Issuance and Registration Fees .............. (1,365) 0 0
Proceeds From State Long-Term Loans .......................... 973,241 0 0
Acquisition and Construction of Capital Assets ............... (3,988,585) (860,826) 0
Capital Contributions ........................................ 981,831 0 0
Capital Grants ............................................... 497,514 784,314 0
Principal Payments on Bonds .................................. (895,320) (45,000) 0
Interest Payments on Bonds (1,444,931) (4,531) 0 '
Interest Payments on State Long-Term Loans .. (1,744) 0 0
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES. $ > '49,705 $ (126,043) $ 0
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments ............................ $ 24,119,129 $ 1,528,620 $ 231,363
Payments for Investments ..................................... (24,793,835) (1,742,260) (440,000)
Interest on Investments ...................................... 590,071 37,816 17,380
NET CASH PROVIDED (USED) BY`«INVESTING ACTIVITIES ............... $ (84,635) $ (175,824) $ (1.14257)
NET INCREASE (DECREASE) IN CASH AND CASH'EQUIVALENTS ........... $ 4,379,179 $ (62,035) $ (198,708)
CASH AND CASH EQUIVALENTS, JANUARY 1 7,689,144 403,020 248,465
CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 12,068,323 $ 340,985 $ 49,757:
CASH AT THE END OF THE YEAR CONSISTS OF: '
Cash and Cash Equivalents .................................... $ 217,375 $ 248,621 $ 49,757
Cash Restricted for:
Deposits ................................................... 20,480 0 0
Revenue Bond Debt Service .................................. 3,812,754 92,364 0
Construction Account ....................................... 8,017,714 0 0
TOTAL CASH AT THE END OF THE YEAR ............. ..... $ 12,068,323 $ 340;985 $ 49,757
76
City of Renton 1992 CAFR
Page 2 of 4
_ ToTAIS
GOLF
COURSE 1992 1991
$ 883,980 $ 20,644,861 $ 17,975,709
0 352,660 253,690
(261,397) (10,352,318) (9,413,429)
(67,070) (2,650,538) (2,023,846)
(211,765) (2,412,675) (2,212,870)
0 (1,179,827) (1,040,835)
17,275 449,302 197,670
0 102,993 43,981
$ 361;023 $ ` 4,9541,458 $ 317$0,070:
$ 623 $ 53,678 $ 78,936
364,715 364,715 364,715
(101,480) (101,480) (101,479)
$ 263,858 $ 316,913 $ .;. 342 #72''
$ 0 $ 3,929,064 $ 0
.. (83) (1,448) (11,746)
0 973,241 0
(39,774) (4,889,185) (5,574,235)
0 981,831 528,586
,., 0 1,281,828 202,266
(228,660) (1,168,980) (1,090,360)
(220,723) (1,670,185) (1,668,627)
0 (1,744) 0
$ (489;;240)
$ 18,000 $ 25,897,112 $ 30,929,161
(248,000) (27,224,095) (30,306,294)
7,594 652,861 866,505
$ (222,406) $ L674122� $ 1,489,372:
$ (86,765) $ 4,03ti671 S X2,002,502)'
110,374 8,451,003 10;453 505
$ 23,609 $.,.::,12,4a2,674 $ 8,451,003
$ 23,609 $ 539,362 $ 841,868
0 20,480 21,688
0 3,905,118 2,527 639
0 8,017,714 5,059 808
:12,482;6.74
City of Renton 1992 CAFR '
ENTERPRISE FUNDS Page 3 of 4 '
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
WATERWORKS AIRPORT SOLID WASTE '
UTILITY
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH '
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 2,363,586 $ 60,182 $ 70,911
Adjustments to Reconcile Operating Income (Loss) '
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... 1,811,364 207,535 2,938
Other Non-Operating Revenue ................................ 73,618 6,295 207
(Increase) Decrease in Accounts Receivable ................. (80,588) (47,327) (155,686)
(Increase) Decrease in Due From Other Funds/Governmental ... 128,650 0 7,714 '
(Increase) Decrease in Inventory/Prepaid Items ............. 6,556 0 0
Increase (Decrease) in Vouchers/Retainage Payable .......... 26,626 (81,601) 47,078
Increase (Decrease) in Due to Other funds/Governmental ..... (5,091) (2,959) 825
Increase (Decrease) in Payables/Other Short Term Liabilities (3,895) 7,569 5,945 ,
Increase (Decrease) in Customer Deposits ................... (1,208) 0 0
Increase (Decrease) in Deferred Revenues ................... 4,516 45,612 0
Increase (Decrease) in Accrued Employee Leave Benefits ..... 85,575 6,452 1,499
Capital Cost Reported as Operating Expense 174 363 0 ,
Total Adjustments ...... . $ 2,046,297 $ 141,939 $ (89,480)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES '_ $ 4,409,883 $ 202,121 $ (18,569.)
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: ,
Fixed Assets Contributed By Developers ....................... $ 533,417 $ 0 $ 0
Fixed Asset Contributed By Other Funds ....................... 26,124 0 0
Advance Refunding of Revenue Bonds ........................... 4,543,300 0 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES ......... $ 5,102,841 $ 0-- $ —0
78
City of Renton 1992 CAFR
r
Page 4 of 4
TOTALS
GOLF
COURSE 1992 1991
r
$ 293,835 S 2,788,514 S 1,876,202
r 51,661 2,073,498 1,965,494
0 80,120 80,470
1,561 (282,040) (166,257)
0 136,364 (94,950)
0 6,556 10,729
5,909 (1,988) 57,078
(5) (7,230) 9,514
(472) 9,147 19,290
0 (1,208) (1,502)
r 0 50,128 (11,385)
8,534 102,060 35,387
0 537 0
$ 67,188 $ 2,165,944 $ 1,903,868
$ 361;023 Si 4,954,458_:,
r
$ 0 $ 533,417 S 797,972
0 26,124 0
0 4,543,300 0
$ 0 $ 5,102,841 S 797,972;:
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k 79
City of Renton 1992 CAFR
80
City of Renton 1992 CAFR
INTERNAL SERVICE FUNDS
.� Internal service funds are used to account for the financing of goods and
services provided by one department or agency to other departments or
agencies of the City.
EQUIPMENT RENTAL FUND - Accounts for the costs of maintaining
and replacing all City vehicles and auxiliary equipment except for fire
apparatus and replacement of police patrol vehicles. All equipment costs,
including depreciation, are factors in calculating the rates which are
r charged to each user department.
INSURANCE FUND -Provides accounting for self-insurance services to
all City departments, including provision for losses on property, liability,
worker's compensation, unemployment compensation, and a health care
program. Expenses are paid by the Insurance Fund and rates are
charged to departments based on use and/or coverage requirements.
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it
City of Renton 1992 CAFR '
INTERNAL SERVICE FUNDS Page 1 of 1 '
COMBINING BALANCE SHEET
YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 Tjr�y
EQUIPMENT INSURANCE '
ASSETS: RENTAL 1992 1991
Current Assets: ,
Cash and Cash Equivalents .......................... $ 393,900 S 208,363 $ 602,263 $ 519,869
Investments ...................................... 250,000 1,180,372 1,430,372 1,633,838
Receivables:
Accounts 0 15,792 15,792 0 '
Interest on Investments ........................ 952 22,317 23,269 47,930
Due From Other Funds ............................. 0 0 0 10,432
Interfund Loans/Advances - Current ............... 0 9,209 9,209 89,683
Due From Other Governmental Units ................ 83,465 0 83,465 105,262
Inventory of Material and Supplies ............... 52,828 0 52,828 49,895 ,
Prepaid Items .................................... 0 3,000 3,000 3,000
Total Current Assets............................ 781,145 1,439,053 2,220,198 2,459,909
Property, Plant and Equipment:
Fixed Assets (Net) ............................... 1,559,094 0 1,559,094 1,516,498
Total Property, Plant and Equipment............. 1,559,094 0 1,559,094 1,516,498
Interfund Loans/Advances - Non-Current 0 39,890 39,890 49,099
TOTAL ASSETS ........ ....... ...... .......... $2,340,'239 $ 1,478,943 :4....", E: :4,025,506
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers Payable $ 26,667 $ 25,089 $ 51,756 $ 20,135
Due To Other Funds 100 3,224 3,324 32
Accrued Interest Payable ....................... 13,617 0 13,617 12,748
Accrued Wages Payable .......................... 1,824 0 1,824 1,678
Accrued Employee Benefits Payable .............. 222 0 222 0
Other Short Term Liabilities 0 18,630 18,630 24,653 r
General Obligation Bonds Payable - Current ..... 66,920 0 66,920 106,155
Total Current Liabilities..................... 109,350 46,943 156,293 165,401
Long Term Liabilities: 4w
General Obligation Bonds Payable ............... 795,443 0 795,443 548,413
Unamortized Discounts on G.O. Bond ............. (11,529) 0 (11,529) (9,189)
Accrued Employee Leave Benefits ................ 44,743 0 44,743 38,292
Claims Incurred But Not Reported................ 0 723,609 723,609 435,561 aw
Arbitrage Rebate Tax Payable ................... 2,723 0 2,723 2,547
Total Long Term Liabilities................... 831,380 723,609 1,554,989 1,015,624
TOTAL LIABILITIES .................................... S 940,730 S 770,552 $ ' 1,711,282 $''' '1,181,025
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FUND EQUITY:
Contributed Capital .............................. $1,038,192 $ 0 $ 1,038,192 $ 1,035,268
Reserved For Insurance Deductible .............. 0 500,000 500,000 500,000
Unreserved ..................................... 361,317 208,391 569,708 1,309,213 r
TOTAL FUND EQUITY ......... ... ........... $1,399,509 $ 708,391 $ 2,'107,900 $ 2,844,481''
TOTAL LIABILITIES AND FUND EQUITY .................... $2,340,239 S 1,478,943 $ 3,819,182 $ 4,025,506
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City of Renton 1992 CAFR
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
TOTALS
EQUIPMENT INSURANCE
RENTAL 1992 1991
.r
OPERATING REVENUES:
Charges for Services ........................... $ 1,239,186 $ 3,187,641 $ 4,426,827 $ 3,141,707
Other Operating Revenue ........................ 0 92,782 92,782 58,466
TOTAL OPERATING 'REVENUE .......................... $ 1,239,186 $ 3,280,423 ' '>$ 4,519,609 $ 3,200,173
OPERATING EXPENSES:
�. operations and Maintenance ..................... $ 616,084 $ 0 $ 616,084 $ 577,628
Benefit Payments ............................... 0 2,606,585 2,606,585 2,494,800
Professional Services .......................... 0 201,918 201,918 215,322
Administrative and General ..................... 154,495 58,850 213,345 199,077
Insurance ...................................... 0 1,535,915 1,535,915 978,697
Depreciation ................................... 347,374 0 347,374 322,747
TOTALOPERATING EXPENSES .............................$ 1,117,953 $ 4;403,268 `' $ 5,521,221 $'< 4,788,271
OPERATING:INCOME.'(LOSS),.......................... $ 121,233 $ (1,122,845)' $ (1,001,612) $' (1,588,098)
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 9,110 $ 80,026 $ 89,136 $ 196,404
Gain (Loss) on Sale of Assets .................. 12,118 0 12,118 2,112
Other Non-operating Revenue .................... 6,887 11,845 18,732 31,149
Interest Expense ............................... (46,414) 0 (46,414) (47,942)
Arbitrage Expense .............................. (176) 0 (176) (165)
- Amortization of Debt Discount and Expense (1,289) 0 (1,289) (2,047)
NON-OPERATING REVENUE NET OF EXPENSES ..........::. $ (19,764) $ 91,871 $ 72„107 179,511
INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... $ 101,469 $ (1,030,974) $ (929,505) $ (1,408,587)
OPERATING TRANSFERS IN .......................... 0 300,000 300,000 300,000
OPERATING TRANSFERS OUT 0 (110,000) (110,000) 0
NET INCOME (LOSS) . .... '......................... $ 101,469 $ (840,974) $ (739,505) "$ (1,108,587)
RETAINED EARNINGS, JANUARY 1 ..................... $ 259,848 $ 1,549,365 $ 1,809,213 $ 2,921,211
Prior Period Corrections 0 0 0 0
RETAINEDa,EARNINGS, JANUARY 1, RESTATED ........... $ 259;$4$ $ �i .ij?� 6 1,809:: $ 2 9 11
Residual Equity Transfers In (out) �.. 0 0 0 (3 411)
............. .
RETAINED EARNINGS, DECEMBER 31 $ 361,317 S 708,391'' 1,069,708 $; ' 1: 8W:913...
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 1,035,268 $ 0 $ 1,035,268 $ 1,034,993
Other Contributed Capital .................... 2,924 0 2,924 275
CONTRIBUTED CAPITAL, DECEMBER 31 ................. $ 1,03$ 1.92 $ 0' $ 1,038,192 $'" 1,035,268'
FUND'' EQUITY, 'DECEMBER 31 .........r.......:........ $ 1,399;509 708,391 $ 2,107.,,900:. �: 2,844,481:
83
City of Renton 1992 CAFR
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December- 31, 1991
TOTALS '
EQUIPMENT INSURANCE
RENTAL 1992 1991
CASH FLOWS FROM OPERATING ACTIVITIES: '
Cash Received From Other funds for Goods and Services ........ $1,241,137 $ 3,187,641 $ 4,428,778 $ 3,139,940
Cash Paid to Suppliers for Goods and Services ................ (309,619) (4,071,239) (4,380,858) (4,084,732)
Cash Paid to Other Funds for Goods and Services .............. (209,424) (49,367) (258,791) (122,169)
Cash Paid to Employees ......................... ..... ... . (228,830) 0 (228,830) (209,163)
Other Operating Receipts ..................................... 0 90,327 90,327 58,466
Other Non-Operating Receipts .. . .. . . 37,094 85 37,179 37,545
NET CASH PROVIDED (USED) BY,:-OPERATING ACTIVITIES ............... $ ;630,35$ $ ;;(842,5'.53) $ ;:,(312,195) $(1,180,113)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Transfers From Other Funds ......................... $ 0 $ 300,000 $ 300,000 $ 300,000
Operating Transfers To Other Funds ........................... 0 (110,000) (110,000) 0
Repayments on Interfund Loans ................................ 0 101,480 101,480 101,479
NET CASH PROVIDED (USED) BY NONCAPITAL 'FINANCING ACTIVITIES .... $ _ 0 $ 291,480 $'`' 291,480 $ 401,479 '
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sate of Bonds .................................. $ 310,320 $ 0 $ 310,320 $ 0
Payments on Bond Issuance and Registration Fees (140) 0 (140) (118)
Proceeds From Sale of Equipment .............................. 15,336 0 15,336 6,356
Acquisition and Construction of Capital Assets ............... (388,209) 0 (388,209) (308,375)
Capital Contributions ........................................ 0 0 0 275
Principal Payments on Bonds .................................. (106,055) 0 (106,055) (106,805)
Interest Payments on Bonds ................................... (45,406) 0 (45,406) (51,002) ,
Residual Equity Transfer-Out 0 0 0 (3,411)
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES . $ (214,154) $ "0 $ (214,154) $ (463,080)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments ............................ $ 606,758 $ 2,182,080 $ 2,788,838 $ 4,907,100
Payments for Investments ..................................... (756,000) (1,829,372) (2,585,372) (4,033,149)
Interest on Investments 10,750 103,047 113,797 194,647
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ................ $ (138,492) $ - '455,755 $ 317;263 $ 1,068,598 '
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS . $ 177,712 $ (95,318) $ 82,394 $ (173,116)
CASH AND CASH EQUIVALENTS,..JANUARY 1 ........................... ?-16,188 303,681 519,869 692,985 ')
CASHAND`CASH`EQUIVALENTS,IDECEMBER 31 ......................:.. $ 393,900 $ 20$,363 $ 602,263 519,869
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash Equivalents .................................... $ 393,900 $_ 208,363 $ 602,263 $ 519,869
Cash and Casq
TOTAL CASH'AT-THE END OF THE YEAR ............................. $ 393,900 $ 208, 63 ... :; 602,263 $ 519,869'
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 121,233 $(1,122,845) $(1,001,612) $(1,588,098)
Adjustments to Reconcile Operating Income (Loss) '
to Net Cash Provided (Used) By Operating Activities:
Depreciation ............................................... 347,374 0 347,374 322,747
Other Non-Operating Revenue ................................ 6,887 85 6,972 12,290
(Increase) Decrease in Accounts Receivable ................. 0 (15,792) (15,792) 662 ,
(Increase) Decrease in Due From Other Funds/Governmental ... 32,158 0 32,158 24,688
(Increase) Decrease in Inventory/Prepaid Items ............. (2,933) 0 (2,933) 7,223
Increase (Decrease) in Vouchers Payable .................... 20,743 10,755 31,498 (52,902)
Increase (Decrease) in Due to Other funds/Governmental ..... (27) 3,219 3,192 32 ,
Increase (Decrease) in Payables/Other Short Term Liabilities 368 (6,023) (5,655) 25,027
Increase (Decrease) in Accrued Employee Leave Benefits ..... 6,451 0 6,451 (2,914)
Increase (Decrease) in Claims Incurred But Not Reported .... 0 288,048 288,048 71,132
Capital Cost Reported as Operating Expense (1,896) 0 (1,896) 0 '
Total Adjustments ...................................... $ 409,125 $ 280,292 $ 689,417 $ 407,985
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES................ $ ' 530,35$ ::.$` 0342;553) . ;5..; (312,195) ,$(1,180,113)
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: '
Fixed Asset Contributed By Other Funds ....................... $ 2,925 $ 0 $ 2,925 $ 0
Asset Trade-In ............................................... 17,691 0 17,691 24,660
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES ......... $1; 20,616 $ 0 $ 20,616 'r $ 24,660
84
City of Renton 1992 CAFR
FIDUCIARY FUNDS
.� Fiduciary Funds are used to account for assets held by the City in a
trustee capacity or as an agent for individuals,private organizations,other
governmental units, and/or other funds. These funds are classified as
Pension Trust,Expendable Trust,and Agency Funds.
PENSION TRUST FUNDS
FIREMEN'S PENSION FUND - Accounts for the payment of
+�
administrative costs, and benefits for retired fire fighters (and
beneficiaries) who were employed prior to March 1, 1970. Primary
revenue sources are general property tax allocations in accordance with
actuarial recommendations, fire insurance premium tax, and investment
interest.
AGENCYFUNDS
SPECIAL DEPOSIT FUND - Established for the purpose of holding or
+� retaining cash deposits or other securities pending fulfillment of certain
conditions and/or requirements by the depositor. Rebates are made when
all obligations have been met, and only upon authorization from the
transmitting department.
ADVANCE TRAVEL EXPENSE REVOLVING FUND - Established to
provide advance payments of travel expense to elected or appointed
officials or employees of the City of Renton.
FLEXIBLE BENEFITS - New fund established in 1992 to administer the
Flexible Benefit Plan adopted in 1989. The plan allows employees to pay
for certain health and dependent care expenses with tax free dollars on an
elective basis through payroll deductions. In prior years, the activity was
accounted for in the insurance fund.
DEFERRED COMPENSATION FUND - New fund established during
1986, to account for the Deferred Compensation plan assets and
liabilities.
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85
City of Renton 1992 CAFR I
FIDUCIARY FUNDS Page 1 of 2 14,
COMBINING BALANCE SHEET ~
DECEMBER 31, 1992 PENSION
With Comparative Totals for December 31, 1991 TRUST AGENCY fUND.S
PENSION SPECIAL ADVANCE FLEXIBLE
TRUST DEPOSIT TRAVEL BENEFITS
ASSETS:
Cash and Cash Equivalents ........................ $ 295,818 $ 309,965 $ 3,634 $ 11,441
Deferred Compensation Plan Assets ................ 0 0 0 0
Investments ...................................... 2,033,516 0 0 0
Receivables:
Accounts ....................................... 0 0 366 0 ,
Interest on Investments ........................ 101,606 0 0 0
Due From Other Funds0 0 0 0
.............................
TOTAL ASSETS $ 2,430,940 3 304 965 $ 4,000;
LIABILITIES AND FUND EQUITY: ,
LIABILITIES:
Vouchers Payable ............................... $ 44 $ 0 $ 0 $ 3,132
Due To Other Funds ............................. 0 0 0 0
Deposits Payable ............................... 0 309,965 0 8,309 '
Deferred Compensation Payable .................. 0 0 0 0
Interfund Loans/Advances - Non-Current ......... 0 0 4,000 0
TOTAL LIABILITIES .................................. $ 44 $ 309,965 $ 4,000 $ 11,441
FUND EQUITY:
Fund Balance:
Reserved For Pension Obligation .............. $ 6,998,000 $ 0 $ 0 $ 0
Unreserved - Undesignated .................... (4,567,104) 0 0 0 '
TOTAL FUND EQUITY .................................. $'2,430,896 $ 0 $ 0 $ 0
TOTAL LIABILITIES AND FUND EQUITY .................. $ 2,430,940 $ 309,965 $ 4,000 $ 11,441,:i
1
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86
City of Renton 1992 C4FR
Page 2 of 2
TOTALS
DEFERRED
COMPENSATION 1992 1991
$ 0 $ 620,858 $ 512,946
3,439,581 3,439,581 2,747,732
0 2,033,516 2,021,942
0 366 84
0 101,606 108,320
0 0 790
$ 3,439,581 $ 6,195,927 $ 5,391,814
$ 0 $ 3,176 $ 0
0 0 7,388
0 318,274 307,217
3,439,581 3,439,581 2,747,732
0 4,000 4,000
$ 3,439,581 $ 3,765,031 $ 3,066,337
$ 0 $ 6,998,000 $ 6,656,197
0 (4,567,104) (4,330,720)
$ 0: $ 2,430,896 $ 2,325,477
$ 3,439,581 $ 6,195,927 $ 5,391,814
i
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8T
City of Renton 1992 CAFR '
FIREMEN'S PENSION TRUST FUND Page 1 of 1
COMPARATIVE STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1992 '
With Comparative Totals for Year Ended December 31, 1991
1992 1991 '
OPERATING REVENUES:
Fire Insurance Premiums ........................ $ 44,536 $ 52,895 '
Property Taxes228,000 206,000
.................................
Interest Revenue ............................... 149,719 185,264
TOTAL'OPERATING REVENUE ........................... $ 422,255 $ 444,159
OPERATING EXPENSES: '
Benefit Payments ............................... $ 314,066 E 277,497
Administrative and General 2,770 8,609
TOTALOPERATING EXPENSES .......................... $
NET INCOME (LOSS) . ........r..................... $ 105,419 $ 158,053'; '
RETAINED EARNINGS, JANUARY 1 ..................... $ 2,325,477 $ 2,167,424
RETAINED EARNINGS, DECEMBER 31 ................... $ 2,430,896 $' 2,325,477:
88
City of Renton 1992 CAFR
FIREMEN'S PENSION TRUST FUND Page 1 of 1
COMPARATIVE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1992
With Comparative Totals for Year Ended December 31, 1991
1992 1991
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Taxes on Fire Insurance Premiums .......... $ 44,536 $ 52,895
Cash Received From Property Taxes ............................ 228,000 $ 206,000
Cash Paid to Suppliers for Goods and Services ................ (300) (6,325)
Cash Paid to Other Funds for Goods and Services .............. (2,426) (2,284)
Cash Paid to Retirees ........................................ (314,066) (277,497)
Interest Revenue ............................................. 156,433 169,042
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES $` 112,177 $ 141,831 ''
CASH FLOWS FROM INVESTING ACTIVITIES:
rw
Proceeds From Sale of Investments ............................ $ 56,966 $ 314,055
Payments for Investments ..................................... (68,540) (425,617)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ............... T_$ (11,574) 'I $ (111,562)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS .......... $ 100,603 $ 30,269
aw CASH AND CASH EQUIVALENTS, JANUARY 1 ........................... 195,215 _ 164,946
CASH,AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 295,818 $ 195,215
CASH AT THE END OF THE YEAR.CONSISTS OF:
Cash and Cash Equivalents .................................... $ 295,818 $ 195,215
TOTAL CASH AT THE'END OF THE YEAR ......'.................... ... $ 295,818.:: $ 195,215'
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
n. Operating Income (Loss) ...................................... $ 105,419 $ 158,053
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
(Increase) Decrease in Interest on Investments ............. 6,714 (16,222)
Increase (Decrease) in Vouchers Payable .................... 44 0
Total Adjustments $ 6,758 $ (16,222)
NET CASH PROVIDED (USED) BY OPERATING'ACTIVITIES $< 1:32,177 :># 141;83'1
' 89
City of Renton 1992 CAFR '
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Page 1 of 1 '
ALL AGENCY FUNDS
YEAR ENDED DECEMBER 31, 1992
BALANCE BALANCE ,
1/01/92 ADDITIONS DEDUCTIONS 12/31/92
SPE
ASSETS '
Cash and Cash Equivalents $ 313,815 $ 747,163 $ 751,013 $ 309,965
Due From Other Funds 790 0 790 0
TOTAL ASSETS $ 314,605 $ 747,163 $ 751,803 $ 309,965 '
LIABILITIES
Due to Other Funds $ 7,388 $ 0 $ 7,388 $ 0
Deposits Payable 307,217 758,551 755,803 309,965 '
TOTAL LIABILITIES $ 314,605 $ 758,551 $ 763,191 $ 309,965
ADVANCE TRAVEL FUND '
ASSETS
Cash and Cash Equivalents $ 3,916 $ 17,227 $ 17,509 $ 3,634
Accounts Receivable 84 17,509 17,227 366
TOTAL ASSETS $ 4,000 $ 34,736 $ 34,736 $ 4,000
LIABILITIES '
Vouchers Payable $ 0 $ 275 $ 275 $ 0
Advances From Other Funds 4,000 0 0 4,000
TOTAL LIABILITIES $ 4,000 $ 275 $ 275 $ 4,000 ,
FLEXIBLE BENEFITS
ASSETS
Cash and Cash Equivalents $ 0 $ 11,441 $ 0 $ 11,441
LIABILITIES
Vouchers Payable $ 0 $ 3,132 $ 0 $ 3,132
Deposits Payable 0 11,441 3,132 8,309
TOTAL LIABILITIES $ 0 $ 14,573 $ 3,132 $ 11,441
DEFERRED COMPENSATIUN FUND:
ASSETS
Deferred Compensation Plan Assets $2,747,732 $ 800,871 $ 109,022 $3,439,581
LIABILITIES
Deferred Compensation Payable $2,747,732 $ 800,871 $ 109,022 $3,439,581
TOTAL - ALL AGENCY FUNDS
ASSETS
Cash and Cash Equivalents $ 317,731 $ 775,831 $ 768,522 $ 325,040
Deferred Compensation Plan Assets 2,747,732 800,871 109,022 3,439,581
Accounts Receivable 84 17,509 17,227 366 r.
Due From Other Funds 790 0 790 0
TOTAL ASSETS $3,066,337 $ 1,594,211 $ 895,561 $3,764,987
LIABILITIES
Vouchers Payable $ 0 $ 3,407 $ 275 $ 3,132
Due to Other Funds 7388 0 7388 0
Deposits Payable 307,217 769,992 758,935 318,274
Deferred Compensation Payable 2,747,732 800,871 109,022 3,439,581
Advances From Other Funds 4,000 0 0 4,000
TOTAL LIABILITIES $3,066,337 $ 1,574,270 $ 875,620 $3,764,987
90
City of Renton 1992 CAFR
GENERAL FIXED ASSETS ACCOUNT GROUP
The General Fixed Assets Account Group is self-balancing,and accounts
for all the fixed assets of the City other than those recorded in the
enterprise and internal service funds; or infrastructure assets which are
considered public property. Infrastructure includes items such as roads,
bridges,curbs and gutters,streets and sidewalks,drainage systems,and
street lighting systems.
91
City of Renton 1992 CAFR
GENERAL FIXED ASSETS ACCOUNT GROUP Page 1 of 1
r
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991
1992 1991 r
ASSETS:
Investment in Joint Venture ............................ $ 646,906 $ 461,222 '
Fixed Assets (Net) ..................................... 52,619,447 45,733,037
Construction In Progress ............................... 122,393 106,554
TOTAL ASSETS $ 53,388,746 $''46,300,813'
Other Credits:
Investment in Joint Venture Assets ................... $ 646,906 $ 461,222
Investments in General Fixed Assets . $ 52,741,840 $ 45,839,591 ,
TOTAL OTHER CREDITS $ 53,388,746 $ 46,300,81.3.'
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92 '
City of Renton 1992 CAFR
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE Page 1 of 1
DECEMBER 31, 1992
GENERAL FIXED ASSETS:
.. Land $ 13,825,812
Buildings 19,377,136
Improvements Other Than Buildings 13,654,404
Machinery and Equipment 5,762,095
Construction Work in Progress 122,393
TOTAL 'GENERAL"FIXED'ASSETS $ 52,741,840'"
... INVESTMENT IN GENERAL FIXED ASSETS FROM
General Obligation Bonds $ 21,796,018
Federal Grants 6,331,505
�. State Grants 1,528,382
County Grants 1,253,751
General Revenues 19,537,329
Donations 2,294,855
.Y
"TOTAL> INVESTMENT IN GENERALIFJXER ASSETS: S <52 741,840 `
' 93
City of Renton 1992 CAFR ,
SCHEDULE OF GENERAL FIXED ASSETS
Page 1 of 1 ,
BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1992 '
IMPROVEMENTS MACHINERY CONSTRUCTION '
OTHER THAN AND wd 31E
FUNCTION TOTAL LAND BUILDINGS BUILDINGS EQUIPMENT PROGRE.SSi
General Government $ 5,556,448 $ 1,376,171 $ 2,215,034 $ 188,277 $1,722,742 $ 54,224
Security of Persons/Property 4,006,701 261,249 844,552 174,763 2,726,137 0
Physical Environment 3,820,563 0 2,751,874 743,383 325,306 0
Transportation 1,046,916 759,563 118,218 0 169,135 0
Economic Environment 1,972,574 472,016 1,294,221 9,702 196,635 0
Culture and Recreation 36,338,638 10,956,813 12,153,237 12,538,279 622,140 68,169 ,
TOTAL GENERAL FIXED ASSETS $52,741,840 $13,825,812— $ 19,377,136 $13,654,404 $:5;762,095
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR ENDED DECEMBER 31, 1992
GENERAL GENERAL' '>
FIXED 'ASSETS FIXED ASSETS
FUNCTION1/01/92 INCREASES DECREASES 12/31/92
General Government $ 4,790,013 $ 885,740 $ 119,305 $ 5,556,448
Security of Persons/Property 3,645,720 697,787 336,806 4,006,701
Physical Environment 3,738,384 147,747 65,568 3,820,563
Transportation 1,010,384 39,858 3,326 1,046,916
Economic Environment 1,880,055 100,222 7,703 1,972,574
Culture and Recreation 30,775,035 5,582,667 19,064 36,338,638
TOTAL'GENERAL' FTXED:ASSETS ,.. 51.5,839;591
5;:52,741,840
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94
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City of Renton 1992 CAFR
GENERAL LONG-TERM DEBT ACCOUNT GROUP
The General Long-Term Debt Account group is self-balancing and is
used to account for unmatured principal on the General Obligation Long-
Term Debt of the City of Renton, including General Obligation Bonds
(refunded issues are excluded), installment contracts, applicable accrued
employee leave benefits and special assessments. This indebtedness is
backed by the full faith and credit of the City of Renton.
' 95
City of Renton 1992 CAFR '
GENERAL LONG TERM DEBT ACCOUNT GROUP Page 1 of 1 '
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1992
With Comparative Totals for December 31, 1991 ,
1992 1991
ASSETS:
Available in Debt Service 8 Capital Project Funds. $ 4,283,477 $ 3,063,084 '
Amount To Be Provided Long Term Debt Retirement .. 24,671,934 26,081,551
'TOTAL ASSETS $28,955,411 $29,144,635>
LIABILITIES:
General Obligation Bonds Payable ............... $17,363,397 $17,297,212
Special Assessment Bonds Payable ............... 7,584,000 8,567,000
Accrued Employee Leave Benefits ................ 3,063,307 2,306,892
Installment Purchase Contracts ................. 613,712 767,719
Arbitrage Rebate Tax Payable .. .. ... 330,995 205,812 '
TOTALLIABILITIES :, . $28,955,41,1 $29,144,635;
1
96 '
City of Renton 1992 CAFR
1992 Annual Financial Report
' fa rstical Section
1
97
City of Renton 1992 CAFR '
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION, Page 1 of 2 i
INCLUDING CHANGES IN FUND BALANCES - LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS ,
Ten Year General Governmental Revenue Trends
M '
I S43.2
I $45
I
$37A
i.4:
,
i
$40 s
$33.6
O
$35
n $29.7 .:
S $26.9 $27.9
$30 $26.8
.:::::::::::::::::::::::::.
o $25 $
521.1 21 521...:...........
f
$20
D
1
o
S 5
I
$10-
................
I
a
$5-/:....
r
$0
S
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
w
DESCRIPTION 1983 1984 1985 1986 ,_
REVENUES
Taxes $ 14,029,386 $ 12,976,666 $ 16,015,551 $ 17,639,615 w
Licenses and Permits 507,568 663,256 842,979 828,563
Intergovernmental Revenues 3,064,007 3,519,090 3,231,409 3,317,946
Charges for Services 2,264,182 2,519,415 (a) 403,409 410,020
Fines and Forfeits 483,680 462,651 489,276 670,817 �r
Interfund Revenues 174,765 0 0 0
Miscellaneous 550,601 896,515 629,918 4,043,930
TOTAL``REVENUES $ 21,074,189 $ 21,037,593 $ 21,612,542 $ ,26,910,891
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EXPENDITURES
General Government $ 3,075,561 $ 2,933,863 $ 3,313,316 $ 3,527,007
Security of Persons and Property 6,678,171 6,807,258 7,576,703 8,375,821
Physical Environment 3,101,241 2,417,624 (a) 747,963 820,107 w
Transportation 2,483,012 2,281,660 2,393,303 2,987,935
Economic Environment 149,638 1,001,026 1,118,401 1,376,506
Mental and Physical Health 45,610 48,989 76,437 201,819
Culture and Recreation 2,092,843 2,179,142 2,409,529 2,549,418 w
Capital Outlay 574,505 737,043 327,257 495,403
Debt Service 1,385,275 1,553,018 1,572,453 4,908,326
TOTAL EXPENDITURES $ 19,585,856 $ 19,959,623 $ 19,535,362 $ 25,242,342
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Other Increases (Decreases) (4,198) (514,145) (2,217,170) (800,512)
FUND BALANCE, JANUARY 1 2,132,113 3,616,248 4,180,073 (b) 5,682,422
FUND BALANCE, DECEMBER 31 $ 3,616,248 $ 4,180,073 $ 4,040,083 $ 6,550,459 w
Source: City of Renton Finance Department.
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(a) The change of revenues and expenditures in 1985 represents the removal of the solid waste operation from the
general fund and formation of a solid waste utility reported under enterprise funds.
(b) Fund balances are restated.
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98
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City of Renton 1992 CAFR
Page 2 of 2
Ten Year General Governmental Fund Balance Trends
M
$12 $13 i
512 I
I
-511
i
Se.7 $10 0
$9 n
58 s
$6.6 $6.4
$6.2
$6.6 56.7 57 0
t $6 f
$4.2
sa
-$5
$3.6
D
-$4
0
S
3
$2 I
SO
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 s
3987 1988 1989 1990 1891 1992
S 19,265,841 S 19,911,366 $ 21,587,371 $ 24,788,886 $ 27,169,161 $ 32,869,130
810,094 717,366 691,646 853,258 1,156,779 1,258,803
2,251,938 2,363,848 2,276,308 3,083,320 2,948,562 2,892,682
446,948 530,318 1,277,780 1,290,486 2,099,067 1,610,795
626,088 653,326 650,059 742,446 803,176 884,692
0 0 0 0 0 0
2,417,406 3,712,172 3,211,659 2,808,531 3,232,891 3,684,479
$ 25,818,315 $ 27,888,396 $ 29,694,823 $ 33,566,927 $ 37,409,636 $ 43,200,581'
$ 3,413,832 $ 3,896,716 $ 4,548,894 $ 5,658,870 $ 5,045,540 $ 5,607,839
8,630,732 9,448,293 10,414,800 11,313,885 12,324,533 13,551,649
853,691 970,075 990,521 790,466 976,822 1,157,112
3,068,765 3,352,152 3,294,786 3,387,188 2,819,625 3,074,076
1,344,017 1,480,498 2,641,202 3,097,543 3,176,411 2,893,077
200,747 202,528 8,485 8,892 10,601 229,013
2,644,631 2,764,356 3,254,427 3,573,006 4,026,495 4,291,090
562,915 427,639 607,810 1,342,056 541,075 4,793,884
4,108,275 3,952,989 4,678,024 4,303,048 4,270,821 3,947,606
$ ,'24,827,605 $ -26,495,246 $ 30,438,949 $ 33,474,954 $ 33,191,923 $ r 39,545,346
(567,768) (1,208,490) (221,405) 157,255 (1,195,396) (357,401)
5,812,944 6,235,886 6,420,546 5,455,015 5,704,243 8,726,560
$ 6,235,886 96:420.546' S 5,455;015 $
8.> 12,024;$94:i
99
City of Renton 1992 CAFR ,
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS Page 1 of 2 ,
LAST TEN FISCAL YEARS
Ten Year Assessed Valuation Trends
B ,
i S3.5
I 53.1.�tiS3.1
ti\.v
v
$3.0-/
w:
o Sz.a 52.43«<
n $2.5 $?
$2.1 ..
S $2 :t
1.9 1.9
41 8
S S
0 ?: :.;•.
51.5
D 1984 decline due to State law deleting
O $1.0-/ - inventories from tax base,and decline
in Boeing personal property.
\.
50.5
a
S $0.0
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
ASSESSED VALUE DECEMBER 31:
Real Property Value $ 1,299,278,544 $ 1,316,618,491 $ 1,428,344,874 $ 1,404,265,400
Personal Property Value 1,089,240,794 456,400,663 441.,326,537 4,52,682,766
TOTAL-':ASSES. :V UE
:. :::::>:. >':'`?:>5. ,338�5iJ,33 1. 73, 314.:.:.5 #+ fiJ�B?T.4i1..... : 1.858948,:#off:
_.
CITY AND OVERLAPPING TAX RATES: (a)
City of Renton:General Levy $ 2.01879 $ 2.48141 S 2.66666 $ 3.03188
City of Renton: Special Levy 0.45779 0.24621 0.40819 0.46501
3
4968...
...............................................................
.........::::::::::::::::::::::::::::::::. :::•.:......... 3::>::>::::>::>s::»:>:: 77 ...
King County 1.36180 1.54780 1.56652 1.73270
Port of Seattle 0.32416 0.36460 0.37786 0.40091
Hospital District #1 0.22084 0.25201 0.27673 0.26308 ,
Renton School District #403 1.19619 1.35641 2.24799 1.45005
State of Washington 2.94146 3.31752 3.54076 3.69881
Emergency Medical Services 0.12370 0.13904 0.14372 0.25000
':34
.._......................................... ................ ... ,:.;:.;:.;....... ::..
1`:.29
::::::::::::::::::::::::::::::::::. :::::::::::::::8.£.4473::::::$:::::::::::::::##.7.Or :::::
TOTAL af1.i�T�<TA�f:�tATf�>:.;:.;:.;;;:.>:.;;:_;:.:;<.;:.;:.;:.;:.;::.;:.;.; 5 ;. :::::::::::::::::::::::::::....................................:........
PROPERTY TAX LEVIES AND COLLECTIONS:
LEVY:
Original $ 5,795,756 $ 4,802,004 $ 5,740,358 $ 6,450,054
Adjusted $ 5,790,361 $ 4,732,016 $ 5,717,243 $ 6,447,924
COLLECTIONS:
Current Collections $ 5,667,979 $ 4,571,517 $ 5,473,674 $ 6,236,094
Percent of Adjusted Levy 97.89% 96.61% 95.74% 96.71%
Delinquent Collections $................104,871......$................1.07'.21.3......$...............1 15,346:::::$ 164,375
_.: :;.<:>::; . .. o.M X469
RRENT.&:UEf NQ3idT S: a.7�2,8 >::>:: :>:<:»»>:::4::67 .7F�.::: ::;::5�589.f>3Q::'::..$`:::>.....
TOTALL3LL1 OTiOt�f{3F.G11, :.:: .... . ....::_:....
PERCENT OF ADJUSTED LEVY 99.70% 98.87% 97.76% 99.26%
OUTSTANDING DELINQUENT TAXES $ 146,673 S 201,336 $ 274,704 $ 322,811
PERCENT OF DELINQUENT TAXES TO ADJUSTED LEVY 2.53% 4.25% 4.80% 5.01%
Source: King County Department of Assessments.
(a) Property tax rates are in dollars per $1,000 of taxable property valued at 100%.
100
City of Renton 1992 CAFR
so
`11
Page 2 of 2
Ow 01 Property Tax Allocation
Schools 17.9%
Hospital 1.5% F4
Port 2.9% >,
:£4
n4._
Count 15.1
State 29
7°
Y
"l:':'
r.
EMS 2.1%
Renton 30.9%
. # ...:....
::� $.. �$ f':idEEEd:: :::. #$9 :.;:::.. #991: 1892 0.
$ 1,548,554,808 S 1,579,510,236 S 1,804,228,971 S 1,864,385,958 $ 2,425,865,552 S 2,466,868,427
419,320,421 477,638,324 482,499,763 556,894,507 620,506,587 664,964,302
........... _.... ;:
.:.
'1 9fi7,87S 229. 5., ,057,146,a6t?:: 'S::�i;: BfiTt3>73 ��€ # 280;4& ..;5.3{J46r3?Z 1�8 � �;X33;832,329
$ 3.25902 $ 3.48761 $ 3.41746 $ 3.55659 $ 3.09203 $ 3.28917
0.71314 0.40764 0.34177 0.54768 0.50609 0.40324
3 X72#6 . ...;... 3 6925 . 793 . ..... 10427 S 3 598 .2.:.. 832
... .....
1.83959 1.89387 1.96262 2.05464 1.73030 1.79973
0.40813 0.43275 0.42940 0.45367 0.32332 0.34421
0.23723 0.23166 0.21891 0.21743 0.17485 0.17781
2.28851 2.02323 2.41016 2.43657 2.07349 2.13257
3.78389 3.84221 3.74197 4.04611 3.38348 3.54132
0.25000 0.25000 0.24829 0.25000 0.19911 0.25000
2 779 1. #2 56897 .... 1 7 os8. 93 562&;#. :?6.. .. . #3,.4826.7::..:5. . #1 93805
$ 7,755,547 $ 7,962,899 $ 8,621,313 $ 9,951,295 $ 10,959,734 $ 11,507,994
$ 7,749,926 $ 7,965,967 $ 8,594,394 $ 9,968,237 $ 10,763,298 $ 11,408,258
$ 7,490,901 $ 7,705,961 $ 8,347,835 $ 9,748,293 $ 10,455,653 $ 11,194,251
96.66% 96.74% 97.13% 97.79% 97.14% 98.12%
$ 210,915 $ 195,246 $ 204,613 $ 222,135 $ 204,311 $ 284,769
.........:......::..:::.:...
. 7d7,9#6.;;S
7,9?l 2n7: : 5`:;:";::'85..62148 S 570.4213 "S #0 658 94 5 :: i 1:4.....W
.0 _.
99.38°k 99.19°,6 99.51°,6 100.02°k 99.04°,6 100.62°�6
S 332,608 S 396,145 $ 343,787 $ 341,596 $ 444,930 $ 374,168
4.29% 4.97% 4.00% 3.43% 4.13% 3.28%
101
City of Renton 1992 CAFR ,
TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS
I-en Year Per Capita Net Bonded Debt Trends
$800
$611 5688
$670
$600
$609 ,'<:::::::<::'``:::::::i:. $499 $494
$400
$331
$3
$200--
.........
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
DEBT SERVICE NET RATIO OF NET NET BONDED
FISCAL ASSESSED GROSS FUNDS BONDED BONDED DEBT TO DEBT '
YEAR POPULATION VALUE BONDED DEBT AVAILABLE DEBT ASSESSED VALUE PER CAPITA
1983 32,700 2,339,492,464 11,301,541 473,766 10,827,775 0.46% 331
1984 33,342 2,030,798,999 11,043,488 163,654 10,879,834 0.54% 326
1985 34,030 1,852,397,097 14,949,260 15,348 14,933,912 0.81% 439 '
1986 34,460 1,831,398,601 19,645,786 5,423 19,640,633 1.07% 570
1987 35,360 1,950,903,657 18,703,555 709,260 17,994,295 0.92% 509
1988 36,940 2,030,493,796 17,999,781 728,030 17,271,751 0.85% 468
1989 38,480 2,286,728,734 24,295,231 799,317 23,495,914 1.03% 611
1990 39,340 2,421,280,465 23,925,377 827,930 23,097,447 0.95% 588
1991 43,000 3,046,372,139 22,472,719 1,007,850 21,464,869 0.70% 499
1992 43,090 3,131,832,729 22,318,712 1,039,480 21,279,232 0.68% 494
Source: State of Washington Office of Program Planning and Fiscal Management,
King County Department of Assessments, and City of Renton Finance Department.
102
City of Renton 1992 CAFR
TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
LAST TEN FISCAL YEARS
�. Special Assessment Billings and Collections
210
188%
180%-/ 1 64.8%
150%
120% )6.2%1101.3%
100.8%100._1_.% < - 96.6% 96.1%
90°
h
30%--
Oh
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
ASSESSMENTS COLLECTION ASSESSMENTS
FISSCAL RECEIVABLE ADDITIONAL ASSESSMENT -------------COLLECTION --------------- AS A % RECEIVABLE
Y#IIA 1/1 ASSESSMENT BILLING PRINCIPAL> INTEREST TOTAL 0F,BJL41NG 12131
1983 5,354,042 1,326,631 1,068,117 572,786 561,425 1,134,211 106.19% 6,107,887
1984 6,107,887 7,557,364 2,286,276 1,416,038 883,288 2,299,326 100.57% 12,249,213
Yr 1985 12,249,213 54,691 4,211,375 2,757,963 1,457,678 4,215,641 100.10% 9,545,941
1986 9,545,941 372,160 2,168,708 2,433,315 1,140,930 3,574,245 164.81% 7,484,786
1987 7,484,786 0 1,847,927 963,900 907,656 1,871,556 101.28% 6,520,886
6 1988 6,520,886 3,830,502 1,754,939 997,706 696,288 1,693,994 96.53% 9,353,682
1989 9,353,682 0 2,117,212 1,074,848 937,583 2,012,431 95.05% 8,278,834
1990 8,278,834 0 1,911,854 1,056,721 738,829 1,795,550 93.92% 7,222,113
1991 7,222,113 0 1,546,338 1,465,953 670,018 2,135,971 138.13% 5,756,160
ho 11992 5,756,160 0 1,284,581 1,739,087 675,531 2,414,618 187.97% 3,876,542
Source: City of Renton Finance Department.
in
103
City of Renton 1992 CAFR ,
TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES
AS OF DECEMBER 31, 1992, AND ALL DEBT CAPACITIES - LAST TEN FISCAL YEARS
t
Ten Year Debt Capacity Trends
M T__1
$60 $64.8
1
$as 'I
0 $40.9
n $364:
3 $40-/ $36.6 5gg
o f
D $20
0 513 6 -'-
.
511 2
9 8 510 $11 6
a 5 :i
uncilmanic
(Non-Voted) ss.3
1983 1984 1985 1986 1967 1988 1989 1990 1991 1992
GENERAL CAPACITY SPECIAL PURPOSE CAPACITY
PARKS AND UTILITY TOTAL
DESCRIPTION COUNCILMANIC EXCESS LEVY OPEN SPACE PURPOSES CAPACITY
ASSESSED VALUE (1993): $3,409,487,114
2.50%of Assessed Value $ N/A $ 85,237,178 $ 85,237,178 $ 85,237,178 $ 255,711,534
0.75%of 1%of Assessed Value 25,571,153 (25,571,153) N/A N/A 0
STATUTORY DEBT LIMIT $ 25,571,153 $ 59,666,025 $ 85,237,178, $ 85,237,178 $ 255,714,53 �r
General Obligation Bonds $ 11,750,000 $ 5,200,000 $ 4,755,000 $ 0 $ 21,705,000
Installment Contracts 613,712 0 0 0 613,712
TOTAL DEBT OUTSTANDING $ 12,363,712 $ 5,200,000 $ 4,755,000 $ 0 $ 22,318,712-
Less
2,318 712-Less Amount Available in Debt Service Funds $ 351,539 $ 298,992 $ 388,949 $ 0 $ 1,039,480
NET DEBT OUTSTANDING $ 12,012,173 $ 4,901,008 $ 4,366,051 $ 0 $ 21,279,232
REMAINING DEBT CAPACITY $ 13,558,980 $ 54,765,017 $ 80,871,127 $ 85,237,178 $ 234,432,302
Source: King County Department of Assessments.
City of Renton Finance Department.
104
City of Renton 1992 CAFR
TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT - DECEMBER 31, 1992
City of Renton Direct and Overlapping Debt
M
I
I
i $50-
0
50
n - --
s
$40
.:: :
::.::.:::....
Renton $22.3
0 $30
Hospital $2.6
D $20-1/
a:xa�\\4-\�w:,+••J:•J::�w.\\•�\\;JJ.,���.J•:,.\•J�
County $21.3
�i�4\�\��\�i:��i�?.i.ti?��:iJ;:ti.�y.1\i�ivtii•:
i:.il':>ttivii};:v;:V:iv\vim\\\.UC.���Ui v\V
e :� ' <;;;.;i Port $.818
$O-
s
1
PERCENTAGE AMOUNT
NET DEBT APPLICABLE APPLICABLE
JURISDICTION OUTSTANDING TO RENTON TO RENTON
NET DIRECT DEBT:
City of Renton $22,318,712 100.00% $22,318,712
OVERLAPPING DEBT:
King County $709,471,000 3.00% $21,284,130
Port of Seattle 27,265,000 3.00% $817,950
Hospital District #1 10,610,000 24.50% $2,599,450
' TOTAL DIRECT AND OVERLAPPING DEBT $769,664,712 6.11% $47,020,242
Source: Seattle Northwest Securities.
105
City of Renton 1992 CAFR '
TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS ,
TO TOTAL GENERAL GOVERNMENT EXPENDITURES - LAST TEN FISCAL YEARS
Ten Year Debt Service to Expenditure Ratio Trend
12%Y
9� 797%
7.62%7 66%46% 1 7.6%7 7%
>. ` 63% 6.27%
6% .68
% -
3%
0%
83 84 85 86 87 88 89 90 91 92
(b)
TOTAL GENERAL RATIO OF DEBT
FISCAL (a) (a) TOTAL GOVERNMENTAL SERVICE TO
YEAR PRINCIPAL INTERESTL DEBT SERVICE EXPENDITURES EXPENDITURES
1983 286,605 1,206,435 1,493,040 19,585,856 7.62%
1984 518,413 1,009,030 1,527,443 19,959,623 7.65%
1985 489,228 968,165 1,457,393 19,535,362 7.46%
1986 497,590 937,319 1,434,909 25,242,342 5.68%
1987 648,922 1,330,652 1,979,574 24,827,605 7.97%
1988 666,061 1,138,226 1,804,287 26,495,246 9.45%
1989 752,670 1,163,653 1,916,323 30,438,949 6.30%
1990 843,440 1,699,597 2,543,037 33,474,954 7.60%
1991 1,101,827 1,452,831 2,554,658 33,191,923 7.70%
1992 1,123,341 1,355,678 2,479,019 39,545,346 6.27%
(a) Principal and Interest are based on total GO Bond debt payments made in 1992. The actual payments were made
from the debt service funds.
(b) General Government Expenditures include General, Special Revenue, and Debt Service Funds. Other Financing '
Uses and Residual Equity Transfers are not included.
Source: City of Renton Finance Department '
106
City of Renton 1992 CAFR
TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND AIRPORT BONDS
LAST TEN FISCAL YEARS
r
Water/Sewer Revenue Bond Airport Revenue Bond
6 Debt Service Coverage Debt Service Coverage
4 8
6.6
2.94 .78 .88
6M3 2.63 6
2.28 2.32 -4 68
1.96 2 O6 .07 3 994.02 4.023.7
2 1 62 3.41
.281
4
.;...
1 ....
0 14
2
.....:.
0 0
83 64 86 86 87 86 88 90 91 82 63 84 66 86 87 88 89 90 91 82
(a) OPERATING NET REVENUE AVERAGE ANNUAL
kstAL, GROSS EXPENSES AVAILABLE FOR --DEBT SERVICE REQUIREMENTS-- (b)
YEAR :'REVENUE W/O DEPREC. DEBT SERVICE, PRINCIPAL INTEREST TOTAL COVERAGE
' WATER AND SEWER REVENUE BONDS:
1983 3,910,394 3,142,056 768,338 306,562 198,171 504,733 1.52
1984 4,660,502 3,674,921 985,581 314,667 190,121 504,788 1.95
1985 6,261,892 4,026,109 2,235,783 356,000 281,133 637,133 3.51
1986 7,033,630 4,758,172 2,275,458 432,500 341,826 774,326 2.94
1987 8,692,585 5,626,454 3,066,131 615,789 488,726 1,104,515 2.78
1988 9,596,335 6,423,697 3,172,638 779,474 614,079 1,393,553 2.28
1989 10,307,395 6,737,270 3,570,125 597,500 1,134,654 1,732,154 2.06
1990 12,085,799 7,928,415 4,157,384 705,000 1,086,718 1,791,718 2.32
1991 13,533,090 8,856,219 4,676,871 790,000 1,473,918 2,263,918 2.07
1992 15,581,113 9,767,486 5,813,627 850,000 1,364,024 2,214,024 2.63
AIRPORT REVENUE BONDS:
1983 387,926 190,192 197,734 25,000 24,530 49,530 3.99
1984 400,840 188,004 212,836 30,000 22,880 52,880 4.02
1985 414,872 271,525 143,347 30,000 21,065 51,065 2.81
1986 418,911 338,159 80,752 35,000 19,083 54,083 1.49
1987 391,000 213,903 177,097 35,000 16,947 51,947 3.41
1988 401,394 203,445 197,949 35,000 14,253 49,253 4.02
1989 423,580 227,802 195,778 40,000 11,849 51,849 3.78
1990 508,087 217,890 290,197 40,000 9,370 49,370 5.88
1991 553,607 316,842 236,765 45,000 6,641 51,641 4.58
1992 606,852 284,410 322,442 45,000 3,828 48,828 6.60
(a) Gross revenue includes connection charges, system development charges, and latecomer fees.
(b) Bond financing requirements are that the average annual coverage is at least 1.3 times the average annual
debt service for Water and Sewer revenue bonds. The Airport revenue bond coverage requirement is at
least 1.5 times that of respective calendar year's annual debt service.
Source: City of Renton Finance Department,
L
107
City of Renton 1992 CA FR
a
TABLE 9: CITY OF RENTON 1990, 1991, AND 1992 RETAIL SALES BY SOURCE
Changing Sales Tax Composition
(1990 vs 1992)
- -2.4%
Auto
3.2%
Services
3.696
Construction
-0.7*A....:.:;o:
General Retailing
Wholesale
Food and Restaurants
0.796
Manufacturing
-0.4%
Transpo rtati o n/Utilities
Finance
< f
-X
Other
-4% -2% 0% 2% 4%
1990 1991 1992
SOURCE AMOUNT % AMOUNT % AMOUNT %
Auto Dealers 5217,949,409 21.1% $216,493,853 20.2% $203,162,657 18.7%
Services 175,258,202 17.0% 205,344,625 19.2% 219,756,164 20.2%
Construction 119,601,825 11.6% 165,891,153 15.5% 165,021,967 15.2%
General Retailing 172,599,420 16.7% 173,571,056 16.2% 173,849,279 16.0%
Wholesale 111,106,472 10.8% 108,917,193 10.2% 101,766,928 9.3%
Food and Restaurants 90,450,234 8.8% 88,251,688 8.2% 89,099,772 8.2%
Manufacturing 70,538,997 6.8% 53,115,356 5.0% 81,873,770 7.5%
Transportation/Utilities 44,096,031 4.3% 42,604,599 4.0% 42,214,037 3.9%
Finance 18,443,029 1.8% 9,283,700 0.9% 9,800,944 0.9%
Other 11,377,890 1.1%1 7,133,862 0.7% 2,138,220 0.2%
TOTALS 51,031,421,509 100.0% 31,070,607,085 100.0%1$1,088,683,738 100.096
Source: City of Renton Finance Department
108
City of Renton 1992 CAFR
TABLE 10: LARGEST TAXPAYERS BASED ON ASSESSED VALUATION
AND PRINCIPAL EMPLOYERS
1992 °rb OF
ASSESSED TOTAL
LARGEST TAXPAYERS TYPE OF BUSINESS VALUE AV
The Boeing Company Aerospace&Computer Services $279,198,800 8.98%
Pacific Northwest Group Telephone Services 41,824,900 1.35%
Glacier Park Co. Property Development 41,356,500 1.33%
Renton Talbot Delaware Inc. Property Development 40,932,600 1.32%
Puget Sound Power&Light Electric Utility 38,069,318 1.22%
L-0 Renton Inc. Property Development 29,915,600 0.96%
Pacific Car&Foundry Heavy Manufacturing 21,761,600 0.70%
Sunpointe Associates Ltd. Property Development 21,318,700 0.69%
First City Equities Property Development 21,010,100 0.68%
Lincoln Properties Property Development 21,712,000 0.70%
Total Assessed Valuation -Largest Taxpayers 557,100,118 17.93%
ry Total Assessed Valuation-All Others 2,550,751,282 82.070h
Totat3992 Giy 0f H8iat0n Ass9ssed /aluation $3,107,851,400 100.0046
1992
NUMBER OF % OF TOTAL
PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES
The Boeing Company Aerospace&Computer Services 25,392 62.65%
Valley Medical Center Medical Services 1,859 4.59%
Federal Aviation Administration Federal Government 994 2.45%
Renton School District Public Education 873 2.15%
Pacific Car&Foundry Heavy Manufacturing 716 1.77%
City of Renton City Government 596 1.47%
Group Health Cooperative Medical Services 388 0.96%
Emerald Racing Association Horse Racing 342 0.84%
Puget Sound Power&Light Electric Utility 279 0.69%
Sound Ford Automobile Dealership 224 0.550/b
US West Telephone Utility 221 0.55%
Container Corp Paper Products 213 0.53%
Total Number of Employees- Largest Employers 32,097 79.19%
w Total Number of Employees-All Others 8,436 20.81%
T001 Employe .Orking'within Renton 40,533; 100.00°1a.
Source:
Assessed Valuation: King County Department of Assessments.
Number of Employees: City of Renton Business License Records.
109
City of Renton 1992 CAFR
TABLE 1 1 : CONSTRUCTION AND BANK DEPOSITS - LAST TEN FISCAL YEARS
Ten Year Construction Permit Valuation Trend ,
M 'i
I $240--
=
240 _$210.6
I
i
$210 '
p $173.8
n $180-/ 6160.8
S $144.6 -
$150
p --S116.6 '
$1 20 6104.2
$100 2
f _
D $90
676 7 ` 580 2
$66
I $60
1 $30
a
r $0 :. -
s 83 84 85 86 87 88 89 90 91 92 '
t
COMMERCIAL RESIDENTIAL OTHER '
CONSTRUCTION CONSTRUCTION CONSTRUCTION
FISCAL NO. OF DOLLAR NO.OF DOLLAR NO. OF DOLLAR TOTAL CONSTRUCTION BANK t
YEAR PERMITSVALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE DEPOSITS
1983 143 8,503,197 347 25,303,918 1,667 21,231,255 2,157 55,038,370 442,521,457
1984 166 11,569,564 302 19,691,904 1,683 45,436,010 2,151 76,697,478 503,083,000
1985 226 53,555,155 407 20,783,550 2,136 42,271,193 2,769 116,609,898 548,263,839
1986 299 57,148,373 504 15,777,533 2,164 31,283,569 2,967 104,209,475 572,339,374
1987 300 22,780,183 485 31,533,133 2,195 25,858,586 2,980 80,171,902 623,806,785
1988 267 82,071,089 367 22,580,043 2,501 46,138,173 3,135 150,789,305 653,566,247
1989 381 50,116,503 404 20,087,755 3,030 29,945,417 3,815 100,149,675 660,210,406
1990 486 58,447,140 376 41,611,035 3,000 44,510,780 3,862 144,568,955 693,220,920
1991 456 92,051,058 228 11,398,725 3,056 70,416,364 3,740 173,866,147 762,933,117
1992 463 123,880,681 203 11,390,193 2,860 75,229,812 3,526 210,500,686 801,079,773
Source: Construction permits and values- City of Renton Building Department. '
Bank Deposits- Greater Renton Chamber of Commerce.
i10 ,
City of Renton 1992 CAFR
I`
r
6 TABLE 12: DEMOGRAPHIC STATISTICS - LAST TEN FISCAL YEARS
' P Ten Year Population Trends
0
P
�^ a
t 50
43 43.1
i
n 40 35 4 38.9 38 6
38 3
�... 33.3 34 34.6
32.7
i
n 30
T
h 20
o
s 10
d U
s 1983 1984 1986 1986 1987 1988 1989 1990 1991 1992
■
PER
FISCAL CAPITA MEDIAN SCHOOL UNEMPLOYMENT
YEAR POPULATION INCOME AGE ENROLLMENT RATE
1983 32,700 15,335 32.06 12,105 9.50%
1984 33,342 16,438 32.40 12,005 7.40%
1985 34,030 17,386 32.70 11,953 6.30%
1986 34,460 18,348 33.20 11,981 6.10%
1987 35,360 19,427 33.40 11,950 5.70%
1988 36,940 20,624 33.80 11,855 4.60%
1989 38,480 22,010 34.10 11,902 4.40%
1990 39,340 16,298 32.00 11,823 3.30%
1991 43,000 N/A N/A 11,679 4.60%
1992 43,090 N/A N/A 11,954 5.60%
Source: Population- State of Washington Office of Program Planning and Fiscal Management.
Per Capita Income- Puget Sound Council of Governments.
Median Age- Office of Financial Management.
School Enrollment- Renton School District 403
Unemployment Rate- Employment Security, Labor Market and Economic Analysis Department.
111
City of Renton 1992 CAFR
+Ir
TABLE 13: MISCELLANEOUS STATISTICS
WASHINGTON STATE
British Columbia
QQ
i':i ,::; Everett:::;;:::::;:::::<.:;;;<i:::::::r;,:::5::::::c;:.::�::.:.;.
kane:..
Idaho
:� '�Olympla
9
Oregon
DATE OF INCORPORATION.....................................................September 6, 1901 TRAFFIC SIGNALS
FORM OF GOVERNMENT.............................................................Mayor-Council Number of Signalized Intersections..........................................................94
TYPE OF GOVERNMENT....................................................Non-Charter,Code City
LOCATION.....................................................................11 Miles South of Seattle STREETS
LAND AREA...........................................................................16.49 Square Miles Miles of Streets and Alleys..............................................................182.32
RANK IN SIZE-STATE OF WASHINGTON........................................................10 '
RANK IN SIZE-KING COUNTY..........................................................................4 UTILITY SERVICES
POPULATION(Official April,1992)...........................................................43,090 Water:
ASSESSED VALUATION...............................................................3.131.832.729 Total Customers.............................................................................12.637
CITY EMPLOYEES(Full Time Equivalents/FTE)..............................................611.7 Total Gallons of Water Produces..........................................2,684,041,000
Number of Fire Hydrants......................................................I............2,269 ,
Milesof Water Main.......................................................................217.61
ELECTION&VOTER REGISTRATION
Number of Precincts....................................................................................64 Sanitary Sewer:
Number of Registered Voters.................................................................21.116 Total Customers.............................................................................10,287
FIRE PROTECTION '
Fire Rating(Washington Survey and Rating Bureau)..........................................4 Storm Drainage:
Number of Commissioned Fire Fighting Personnel...........................................81 Number of Accounts.......................................................................10,846
Numberof Stations.......................................................................................3 Miles of Storm Sewers...................................................................... 166
Total Fire Loss.................................................................................$676,240
Number of Life Support Responses...........................................................3,806 LICENSE&PERMITS ,
AllOther Responses...............................................................................1,647 Business Licenses.............................................................................2,799
Total Number of Responses.....................................................................6,632 Amusement and Special Permits...........................................................326
Animal Licenses(Dog and Cat)..........................................................3,426
POLICE PROTECTION
Number of Commissioned Police Personnel....................................................78 AIRPORT
Number of Calls for Services.................................................................43,642 Area in acres..................................................................................167.21
Total Crimea Reported(Class I,II,IIII.....................................................10,472 Feet of Asphaltic Concrete Runway..................................................6,379 '
Traffic Accidents Investigated.................................................................1.869 Total Operations...........................................................................140,400
All Other Traffic Violations....................................................................14,327
LIBRARY
PARKS&RECREATION Libraries(Main and Highlands Branchl.......................................................2 '
Total Acreage.....................................................................................646.76 Total Registered Borrowers.............................................................10,436
Number of Parks and Playgrounds.................................................................26 Total Circulation...........................................................................293,838
112 ,
Staff who contributed their time and talents on the project include Enola Christian, Linda Dixon, Paula
Henderson, Marji Mar, Hugh Simpson, lwen Wang, Debbie Willard, and Lori Wood.
r. Software used to produce the final product include Lotus 1-2-3, Impress, Allways, Word for Windows,
Micrografx Charisma, operating under Windows 386.
The document was produced and printed in-house using an HP Laserjet 11D & Ill, a Kodak Ektaprint 235
• copier, and an A.B. Dick 9850 offset duplicator.
Thank you to all who contributed to the CAFR.
r
Iwen Wang