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HomeMy WebLinkAbout1993 CAFR E di f r 3 e $ pp $� 4 fr d .a b IVT dPe (-'7or 14e year eniLd'-Acemler 31, 1993) ell n ., "wr a 200 Mill Avenue South, Renton, Washington 98055 * (206 23 N u City of Renton 1993 CAFR The City of Renton, Washington Comprehensive Annual Financial Report For the Year Ended December 31, 1993 r OFFICE OF THE CITY CLERK Fenton Municipal Bldg. 200 Mill Ave. So. Renton, WA 98055 Introductory Section r Victoria A. Runkle Finance and Information Systems Administrator ® This document printed on 50%recycled paper with 15%post-consumer waste. COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1993 , TABLE OF CONTENTS ITEM , PAS, INTRODUCTORY SECTION City Organization Structure & Reporting Relations......................................................................................................................iii 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............................ 11 Combined Statement of Cash Flows Proprietary and Similar Trust Funds.................................................................................. 12 Notes to Financial Statements• Note 1: Significant Accounting Policies............................................................................................................................ 19 ReportingEntity.............................................................................................................................................. 19 Basis of Presentation- Fund Accounting............................................................................................................ 19 , Basisof Accounting........................................................................................................................................ 19 Budgetsand Budgetary Accounting ..................................................................................................................20 Assets, Liabilities and Fund Equity....................................................................................................................20 Cashand Cash Equivalents.........................................................................................................................20 Investments .............................................................................................................................................20 , Inventories...............................................................................................................................................20 PropertyTaxes Receivable .........................................................................................................................20 AssessmentsReceivable............................................................................................................................21 FixedAssets and Depreciation....................................................................................................................21 Accumulated Unpaid Vacation &Sick Pay....................................................................................................21 Fund Equity- Reserves & Designations .......................................................................................................21 Direct Charges/Credits to Enterprise Funds Retained Earnings.........................................................................21 RiskManagement and Risk Retention..........................................................................................................21 ' Note 2: Stewardship, Compliance and Accountability........................................................................................................21 Note3: Cash & Investments ..........................................................................................................................................22 Note4: Deferred Compensation......................................................................................................................................22 Note5: Receivables and Payables...................................................................................................................................22 Note 6: Operating and Residual Equity Transfers...............................................................................................................24 Note7: Fixed Assets.....................................................................................................................................................24 Note8: Prepaid Items....................................................................................................................................................25 Note9: Joint Ventures..................................................................................................................................................25 , Note 10: Pension Plan & Other Postemployment Benefits...................................................................................................25 PERSand LEOFF.............................................................................................................................................25 Firemen's Pension...........................................................................................................................................27 Note1 1: Construction Commitments...............................................................................................................................28 Note12: Long-Term Debt...............................................................................................................................................28 ' Note 13: Deferred Charges in Proprietary Funds ................................................................................................................33 Note 14: Reservations and Designations of Fund Equity......................................................................................................33 Note 15: Segment Information for Enterprise Funds...........................................................................................................34 Note16: Litigation.........................................................................................................................................................34 ' Note17: Risk Management.............................................................................................................................................34 Note18: Prior Period Adjustments...................................................................................................................................35 Note19: Subsequent Events...........................................................................................................................................35 COMBINING FINANCIAL STATEMENTS AND SCHEDULES OF INDIVIDUAL FUNDS AND ACCOUNT GROUPS: General Fund• ComparativeBalance Sheet.............................................................................................................................................. 38 Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................................39 Statement of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual.........................................................40 i COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1993 TABLE OF CONTENTS-CONTINUED ITEM PAGE Special Revenue Funds: CombiningBalance Sheet.................................................................................................................................................42 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances...................................................................44 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................46 Debt Service Funds: CombiningBalance Sheet.................................................................................................................................................54 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances................................................................... 56 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................58 Capital Project Funds: CombiningBalance Sheet.................................................................................................................................................66 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................68 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................70 Enterprise Funds: CombiningBalance Sheet.................................................................................................................................................76 Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................78 CombiningStatement of Cash Flows.................................................................................................................................80 Internal Service Funds: Combining Balance Sheet............................................................... Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................87 Combining Statement of Cash Flows.................................................................................................................................88 Fiduciary Funds: CombiningBalance Sheet.................................................................................................................................................90 Firemen's Pension Trust Fund Comparative Statement of Revenues, Expenses, and Changes in Fund Equity..............................92 Firemen's Pension Trust Fund Comparative Statement of Cash Flows...................................................................................93 Combining Statement of Changes in Assets and Liabilities All Agency Funds.........................................................................94 General Fixed Asset Account Group: ComparativeBalance Sheet..............................................................................................................................................96 Schedule of General Fixed Assets by Source......................................................................................................................97 Schedule of General Fixed Assets by Function and Activity..................................................................................................98 Schedule of Changes in General Fixed Assets by Function and Activity.................................................................................98 General Long-Term Debt Account Group: ComparativeBalance Sheet............................................................................................................................................ 100 STATISTICAL SECTION Table 1: General Government Revenues& Expenditures- Last Ten Fiscal Years.................................................................... 102 Table 2: Assessed Value, Property Tax Rates, Levies and Collections- Last Ten Fiscal Years................................................. 104 Table 3: Ratio of Net General Obligation Debt to Assessed Value & Net Bonded Debt per Capita- Last Ten Fiscal Years ........... 106 Table 4: Special Assessment Billings and Collections- Last Ten Fiscal Years........................................................................ 107 Table 5: Computation of Legal Debt Margin- December 31, 1992 ...................................................................................... 108 Table 6: Computation of Direct and Overlapping Debt-December 31, 1992 ........................................................................ 109 Table 7: General Obligation Bonds/Expenditure Ratio- Last Ten Fiscal Years......................................................................... 110 Table 8: Revenue Bond Coverage- Last Ten Fiscal Years................................................................................................... 1 1 1 Table9: Retail Sales By Source....................................................................................................................................... 112 Table 10: Largest Taxpayers and Principal Employers.......................................................................................................... 113 Table 11: Construction and Bank Deposits- Last Ten Fiscal Years........................................................................................ 114 Table 12: Demographic Statistics- Last Ten Fiscal Years.................................................................................................... 115 Table13: Miscellaneous Statistics.................................................................................................................................... 116 ii City of Renton 1993 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. Richard Stredicke, President Earl Clymer Randy Corman Toni Nelson Mayor Tim Schlitzer Bob Edwards Jesse Tanner Kathy Keolker-Wheeler PLAN/BLDG/PUBLIC WORKS EXECUTIVE DEPARTMENT FINANCE&INFORMATION SERVICES Gregg Zimmerman Interim LILarry y Attorney Executive Assistant ' Administrator Warren Jay Covington Victoria Runkle Administrator Development Transportation Services Director Systems Director Municipal Court Accounting& Hearing Examiner g Information Jim Hanson Mel Wilson Judge �BudgetingDirectorFred KaufmanRoger Lewis Vaant Systems Director Phil Jewett F m Interim Utilities /Tech Systems Director DirectorRon Olsenermann Personnel Director City Clerk Beverly Nelson-Glode Marilyn Petersen Maintenance Services Director ' Jack Crumley FIRE DEPARTMENT POLICE DEPARTMENT COMMUNITY SERVICES Lee Wheeler Alan Wallis Sam Chastain Chief Chief , Administrator Jim Mathew Garry Anderson Don Persson Parks&Rec Director Library Director Deputy Chief Captain Captain Bill Hutsinpiller Clark Petersen , Suppression Glen Gordon Prevention Operations Support Services Human Services Art Larson Bureau Bureau Facilities Director Manager Jack McLaughlin Jim Shepherd g Larry Weiss Deputy Chief/ Carolyn Sundvall ' Battalion Chief Fire Marshal Investigation Crime Prev Patrol/Traffic Adm Sv/Training Animal Control Staff Sery Gambling Enforcmt Jail Emerg Mgt Safety Ray Barilleaux Larry Eager Battalion Chief Battalion Chief 1 iii aw CITY OF RENTON "LL Finance & Information Services Earl Clymer, Mayor Victoria A. Runkle, Administrator Honorable Earl Clymer, Mayor June 16, 1994 Members of the Renton City Council City of Renton 200 Mill Avenue South Renton, WA 98055 rr Dear Mayor and Council Members: r. TRANSMITTAL OF 1993 COMPREHENSIVE ANNUAL FINANCIAL REPORT This correspondence transmits a copy of Renton's Comprehensive Annual Financial Report for the year ending December 31, 1993. It also provides a brief overview of the information contained in the annual report. The letter of transmittal has been organized into five sections: 1)Introduction;2)Economic Condition and Outlook;3)Major Program Initiatives;4)Financial Information;and 5)Other Information. INTRODUCTION a The introductory section provides 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 Representation The City of Renton Finance and Information Services Department is responsible for the accuracy, completeness, and 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 they fairly represent Renton's financial position and results of operations of its various funds and account groups. This report r.r 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,which presents financial,economic, rr 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. 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 tir iv r City of Renton 1993 CAFR , 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. The 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 1993 population of 43,470. 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. The City continued to experience a slow growing economy in 1993. Sales tax revenue grew 7.84 %. This was largely due to increased sales of automobiles and revenue from two major construction projects: Interstate 405 and the Boeing Customer Service Training Center. The latter project will translate into 10,000 permanent jobs over the next decade. Property tax receipts grew by 8.5%. As building permits slowed, so did the new facilities that add to the property valuation. Building permit fees were down by 11.39%. Boeing employment in Renton went from a high of 28,000 employees in early 1992 to 17,800 at the end of , 1993. Yet other revenues including utility taxes,park fees and animal licenses held constant with some increases for inflation. Growth Indicator 1984 1993 Chan e %Chane Population 33,342 43,470 10,128 30% Assessed Valuation $ 2,030,798,999 $ 3,429,366,124 $ 1,398,567,125 69% , Building Permit Value $ 76,697,472 $ 98,385,628 $ 21,688,156 28% Retail Sales $ 638,289,000 $ 1,175,380,122 $ 537,091,122 84% In response to the changing manufacturing industry, the City of Renton embarked on an aggressive economic development strategy. In 1993, working with the Downtown Renton Association, the Chamber of Commerce, Boeing, PACCAR, and , numerous building owners and developers,the City hired an economic development coordinator and began to market Renton's attributes. At the mid-point of 1994 the benefits of this effort are beginning to show. The City will be the new home of a private continuing education facility,City University; in late 1994 a new IKEA,a home furniture store,will open; and several other companies are beginning to take advantage of the transportation and rental opportunities Renton offers. ' This effort builds on the continued strength the City has in a strong manufacturing sector with the Boeing and Pacific Car and Foundry (PACCAR) facilities. Within the City limits, Boeing houses its Commercial Airplane, Computer Services, and , Electronics Divisions. The 737 and 757 jet airliners are built in Renton. Further,the company is designing a new generation of the 737, the 737X, in Renton. PACCAR completed its new facility in Renton in 1993, and is now producing Kenworth Trucks. In addition to the manufacturing sector,the City has a regional medical center,Valley Medical Center,which serves the entire south part of King County. The medical center's extended 1,737 employees serve a population of 375,000 with the center's 255-bed hospital. Over 350 physicians work at and around the hospital. , V aw City of Renton 1993 CAFR Future Economic Outlook At the end of 1993, the efforts of the City in its economic development began to show results. The City had to reduce its 1994 General Fund and Transportation budgets to respond to continuing decreases at Boeing. However,the City understands it must continue to diversify its economy. Boeing expects that their major layoffs have ceased. They have stated employment levels will never again swing from the significant highs of the mid 1980's to the lower levels in 1993. For the City to remain healthy, diversified service and light manufacturing industries need to be attracted to the business core. Some of this has started without significant City action. A small Sears store will be replaced with a Fred Meyer superstore in 1994. Locations known as Renton Village and Renton Center,both in the downtown area,will undergo significant change in their retail composition. In 1994 a fine arts gallery opened in the Downtown core, adding a significant look and feel to the area. The local dinner train,the Spirit of Washington,continues to run daily from Renton to wineries in north King County. A major state initiative in health care will be implemented in 1995. We have yet to ascertain what impact this will have on .. our employees and health care costs. A statewide initiative limiting state expenditures and taxes has not had an impact on local governments. However,we have joined with local governments to carefully watch the state. While we receive only 6% of our general fund budget from interlocal revenues, they do pay for special programs such as gambling enforcement, transportation,and programs to treat health and alcohol related problems. MAJOR PROGRAM INITIATIVES r The program initiative section will outline major programs which the Council has adopted in the past years and continued in 1993. 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 Over the past year,the City continued to purchase significant areas of green space for its citizens. In late 1993, the City acquired a site known as NARCO. An old brickmaking facility, the 52-acre site will meet several different r recreational needs for families. The site will include quiet passive areas,ballfields,and a trail system. It is directly across the Cedar River from the City's Community Center,connected with a footbridge. In addition to this acquisition,the City has been able to begin to build a small park that offers picnic facilities, hiking, and access to the soon-to-be completed Cedar River wr Trail. All of this contributes to a better quality of life for the City's residents. As stated earlier,the City addressed its second goal by beginning a significant economic development program. In addition to hiring an economic development coordinator, the City began to help fund a Downtown Renton Association position. This position,with the Chamber of Commerce and the City's help, is beginning to address transportation, lighting, and community development activities that will add to the vitality of the downtown core. One of the results will be significant parking and tree changes to the area in 1994. The City has also actively participated in the region's discussion of growth management and allocation of that growth as dictated by the State's Growth Management Act. Urban centers were identified in 1993,with Renton being designated as one. As the year came to a close the City's Comprehensive Plan was being completed. After adoption by the Council, the City must continue to work regionally for the correct mix of affordable and low income housing, transportation, and the allocation of financial resources to pay for growth. u. Employee relations required significant work in 1993. The downturn in the economy came simultaneously with the end of labor agreements with six bargaining units. In late 1993, the City completed negotiations with the AFSCME union representing professional and support employees,known as 21-R. Negotiations were also completed with the Firefighters and Battalion Chiefs union. By the end of the first quarter of 1994, the Police Guild and the Non Commissioned Officers bargaining units settled. The managers of the City bargained as a collective unit, and their negotiations were completed in early 1994. The agreements ranged from 1 1/2 % to 3 % increases. The City was able to maintain benefits and salary u. vi City of Renton 1993 CAFR increases for current employees by establishing a new salary range for new firefighters,police officers,and non commissioned police officers. Management and 21 R employees choose not to institute a two-tiered pay range. In addition to the negotiations, the City continued to meet employee needs with various City-wide training, a monthly , newsletter, and wellness programs. At the beginning of 1994, City-wide staff and Council workshops were conducted. The goals and priorities outlined throughout this document were confirmed. FINANCIAL INFORMATION The financial information section of the transmittal letter will discuss accounting/budgetary controls, and summarize the , operating results for Renton's major fund groups. Accounting and Administrative Controls The City utilizes various accounting and administrative controls to ensure ' stewardship responsibilities are fulfilled. Accounting control includes the plans, procedures, and systems used to safeguard assets and the 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 exist 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. 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. ' General Governmental Revenues General Governmental operations consist of General Fund, Special Revenue Funds and Debt Service Funds. The following table summarizes the revenues by source for 1992 and 1993. , General Government Revenues 1993 1992 Change and Other Sources Amount % Amount % Amount % ' Property Taxes $ 11,904,568 18.5% $ 10,972,810 20.8% $ 931,758 8.5% Sales Taxes 10,525,696 16.4% 9,795,789 18.6% 729,907 7.5% , Utility Taxes 5,617,061 8.7% 5,040,211 9.6% 576,850 11.4% Other Taxes 3,156,840 4.9% 6,933,933 13.1% (3,777,093) (54.5%) Licenses and Permits 1,145,967 1.8% 1,258,803 2.4% (112,836) (9.0%) Intergovernmental Revenues 4,297,932 6.7% 2,892,682 5.5% 1,405,250 _ 48.6% , Charges for Services 1,437,069 2.2% 1,610,795 3.0% (173,726) (10.8%) Fines and Forfeits 881,016 1.4% 884,692 1.7% (3,676) (40/6) Interest 1,015,369 1.6% 1,330,794 2.5% (315,425) (23.7%) , Miscellaneous Revenue 1,234,467 1.9% 2,480,072 4.7% (1,245,605) (50.2 00 Sub-total Revenues 41,215,985 64.1% 43,200,581 81.9% (1,984,596) (4.6%) Other Financing Sources 11,039,750 17.2% 797,888 1.5% 10,241,862 1283% Beginning Fund Balance 12,024,394 18.7% 8,726,560 16.6% 3,297,834 37.8% Total Resources and Fund Balance $ 64,280,129 100.0% $ 52,725,029 100.0% $ 11,555,100 22.0% vii City of Renton 1993 CAFR The 1993 General Governmental revenues totaled $41.2 million, a decrease of$2 million, or 4.6% less than 1992. Taxes allocated to these funds decreased by 4.7%. The following addresses the fluctuations between 1992 and 1993 for revenue categories listed above: 1) Property Taxes - The increase of 8.5% is due to annual maintenance of 6% and 2.5% of new construction. 2)Sales Taxes-The increase is due to inflation pressures on sales prices and construction costs associated with the I405 project. 3) Utility Taxes-The increase is attributable to population increases and the inclusion of cellular phone utility tax in this category. 4) Other Taxes - The decrease is due to a one-time mitigation fee of$4 million in 1992 that caused other taxes to drop by 54.5% in 1993. 5) Licenses and Permits - A downturn in employment at Boeing and other businesses, along with a substantial decrease in the number of residential building permits has caused this number to drop by 9%in 1993. 6) Intergovernmental Revenues-Increases represent Fire District 25 revenue and increases in grants for capital projects. 7) Charges For Services-Decrease is attributable to fewer impact mitigation fees being collected in 1993. 8) Interest Revenue- Interest rates on investments were lower than in 1992. 9) Other Financing Sources- Bond proceeds and transfers between funds General Governmental Expenditures The City's General Governmental operating expenditures and other uses, which include General, Special Revenue and Debt Service Fund types,are summarized below. r General Government 1993 1992 Change Expenditures and Other Uses Amount % Amount % Amount % General Government $ 5,258,009 8.2% $ 5,607,839 10.6% $ (349,830) (6.2%) Security of Persons/Property 15,654,019 24.3% 13,551,649 25.7% 2,102,370 15.5% Physical Environment 1,163,369 1.8% 1,157,112 2.2% 6,257 0.5% Transportation 2,937,977 4.6% 3,074,076 5.8% (136,099) (4.4%) Economic Environment 3,155,164 4.9% 3,041,773 5.8% 113,391 3.7% Mental and Physical Health 8,983 0.0% 10,992 0.0% (2,009) 18.2% Culture and Recreation 4,603,052 7.1% 4,291,090 8.2% 311,962 7.3% Capital Outlay 549,412 .9% 4,863,209 9.2% (4,313,797) (88.7%) Debt Service 3,554,238 5.5% 3,947,606 7.5% 393,368 10.0 Sub-total Expenditures 36,884,223 57.3% 39,545,346 75.0% (2,661,121) (6.7%) Other Financing Uses 12,871,015 20.0% 1,155,289 2.2% 11,715,726 1014% Ending Fund Balance 14,631,484 22.7% 12,024,394 22.8%_ 2,607,090 21.7% Total Expenditures/Fund $ 64,386,722 100.0% $ 52,725,029 100.0% $ 11,661,695 22.1% W Balance Expenditures for general governmental functions totaled $36.9 million in 1993, a decrease of 6.7 % or $2.7 million over 1992. The firefighters were the only bargaining unit in 1993 which had a cost-of-living agreement with the City. They received a 3 % increase. All of the other bargaining units were in negoitiations:during 1993 and were not granted a COLA until final agreements were reached. During 1993, 88%of the City's work force was included in these general governmental +r• funds. The following identifies major fluctuations between 1992 and 1993: 1)General Governmental- Increases in salaries and health benefits are offset by reduced spending in all other areas. 2) Security of Persons/Property- The major areas of increase are associated with salaries and benefits to accommodate the cost-of-living increase. 3) Culture and Recreation- The increase of 7.3 % is due primarily to salaries and benefits. 5) Other Financing Uses - Primarily related to payments made to the bond trustee and interfund transfers. General Governmental Fund Balance The table on the next page provides a summary of General Governmental revenues, expenditures and fund balance for 1992 and 1993, which includes General, Special Revenue and Debt Service Fund types. The 1993 revenue decreased by$2 million or 4.7 %, and expenditures were $2.7 million or 6.7 % less than 1992. The 1993 revenues exceeded expenditures by $4.3 million. Although the total ending fund balance increased by $2.6 million, it is important to note that the majority of this fund balance is designated for special purposes and is not available for appropriation. r viii City of Renton 1993 CAFR ' General Government Revenues,Expenditures Chan e and Fund Balance 1993 1992 Amount Percent Total Revenues $ 41,215,985 $ 43,200,581 $(1,984,596) (4-70/6) ' Total Expenditures 36,884,223 39,545,346 2,661,123 6.7% Excess of Revenues over Expenditures 4,331,762 3,655,235 676,527 18.5% Other Increases(Decreases) (1,724,672) (357,401) (1,367,271) (382.6%) ' Fund Balance January 1 12,024,394 8,726,560 3,297,834 37.8 Fund Balance December 31 $ 14,631,484 $ 12,024,394 $ 2,607,090 21.7% Proprietary Operations The City's proprietary operations include four enterprise 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. Waterworks Ai rt Solid Waste Golf Course ' Item 000's 1993 1992 1993 1992 1993 1992 1993 1992 Operating Revenues $ 14,832 $ 13,926 $ 612 $ 552 $ 6,252 $ 6,299 $ 804 $ 899 , Operating Exp.w/o Der 10,478 9,767 295 284 6,470 6,225 530 554 Operating Inc.w/o Depr $ 4,354 $ 4,159 $ 317 $ 268 $ (218) $ 74 $ 274 $ 345 General Fund Reimb $ 1,910 $ 1,322 $ 32 $ 32 $ 211 $ 145 $ 20 $ 9 Reimbursement as a%of Operating Expense 18.23% 13.54% 10.85% 11.27% 3.27% 2.33% 3.78% 1.62% Available for Debt Service $ 6,331 $ 5,814 $ 368 $ 322 $ N/A $ N/A $ N/A $ N/A Debt Service Coverage 2.36 2.63 7.23 6.60 N/A N/A N/A N/A , Retained Earnings $ 9,411 $ 8,807 $ 3,347 $ 3,053 $ 800 $ 912 $ 2,018 $ 1,820 Each year the Council analyzes the budgets, capital improvement programs (CIP) and the rates for all four of the City's utilities. In addition,the Council reviews the increase in sewer rates by King County(formerly METRO)for the transport and ' treatment of all sewage in the County. The primary driver of the increases were the CIP expenditures. It is expected the CIP will continue to push rate increases through the next decade as the City meets aging and growth needs of the current systems. Effective January 1, 1993, the Council approved an 8.2 % increase in water rates and a 9.5 %increase in Waste Water rates. ' The Water Utility completed the Maplewood Booster Pump Station and Treatment Building, construction of the Talbot Hill Transmission line replacement, and the Mt. Olivet Pump Station Rehabilitation. The Waste Water Utility completed the Sierra Heights ILD project, and design for the East Renton Interceptor and Highgate Lift Station Elimination projects . In , addition,homeowners in King County experienced a 10%increase in water rates. Solid Waste rates increased by 3.9%in 1993. The Utility sponsored Spring and Fall Collection events that permitted citizens to dispose of bulky yard waste, used motor oil, oil filters, and antifreeze, white goods and tires. The City's curbside recycling/yard waste collection continues its success with a residential diversion of 54 %. A new multi-family recycling ix r City of Renton 1993 CAFR Im program began in the spring with an eight-month diversion rate of 10 % of the waste stream from this customer group. Overall diversion of the total City waste stream is 22%. Surface Water Utility taxes did not increase in 1993. The Utility began the Cedar River Delta Dredging Project funded by a state grant and Boeing. Work continued on the Wetlands Mitigation Bank plan which is attempting to develop a comprehensive plan to save large useful wetlands in exchange for lower class wetlands. In addition to having its own water sources and managing separate utilities,the City of Renton also maintains its own municipal airport. It services two primary r customers: individual users and The Boeing Company. Airport leases comprise the primary funding source, with Boeing paying for 37 % of the total lease revenues. The Airport continues to average approximately 144,000 annual take-offs and landings per year. Of the annual take-offs and landings,over 90%are small planes. 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 course and is operated by a concessionaire, and maintained by the City through the r Recreation Division of the Community Services Department. Due to poor weather conditions in 1993,approximately 12,000 less rounds were played than in 1992. Debt retirement of the refunded 1986 general obligation bonds used to acquire the golf course is funded each year by a transfer from the General Fund. $375,575 was transferred in 1993. Major capital improvements in process include preliminary design of a clubhouse/driving range and irrigation improvements. Internal Services Renton's two Internal Service operations are the Equipment Rental and Insurance Funds. Equipment Rental meets the maintenance and replacement needs of over 200 City vehicles and auxiliary equipment by charging user departments a rental fee. The City allocated approximately$512,350 for replacement of 18 vehicles in 1993. r. 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 liability per property and general liability claim. The Insurance Fund charges City departments to finance their risk, based on the claims history and cost of excess insurance coverages. Claims payments and appropriate excess insurance coverages are financed by the fund. an 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 1993, 521 employees with 1,032 dependents, 21 Cobra and 75 eligible retired firefighters and • policemen were covered under this program. In addition to regular insurance activity, the City uses the Insurance Fund to build up an operating reserve to protect against future economic revenue downturns. The operating reserve is targeted at 8 % of the general governmental expenditures rr (General, Parks, Street, Library, and Limited Debt Service Funds). At year-end, the 8 %target was $2,825,673. The City increased premiums by 25 % in 1993 and will increase premiums by an additional 15 % in 1994. The 1994 increase in premiums along with an additional transfer of$500,000 from excess 1993 revenues will increase the operating reserve to$1.9 million. The following table summarizes the Self-Insurance Fund operations for 1993: Property& Workers Unemploy. Item Medical Dental Liability Comp. Comp. Total Claims Paid $1,992,283 $ 427,987 $1,496,315 $ 208,472 $ 34,014 $4,159,071 Excess Loss Coverage 105,756 0 429,627 0 0 535,383 Administrative Fees 130,725 0 10,145 0 0 140,870 Total Costs 2,228,764 427,987 1,936,087 208,472 34,014 4,835,324 Premium Received 2,324,267 472,019 758,141 396,419 40,150 3,990,996 Surplus(Deficiency) $ 95,503 $ 44,032 $(1,177,946) $ 187,947 $ 6,136 $ (844,328) r Debt Administration The following table displays the City's remaining general obligation debt capacities, outstanding debt, and the ratio to 1994 current assessed value($3,407,827,283): r r x City of Renton 1993 CAFR r Remaining Capacity Percent Net Outstanding Percent T e of G.O Bond Issue as of 12/31/93 of AV Debt as of 12/31/93 of AV General Purpose: General/Non-Voted $ 13,847,461 0.41% $ 11,711,244 0.35% , General/Voted 54,438,708 1.60% 5,198,269 0.16% Total General Purpose 68,286,169 2.01% 16,909,513 0.51% Parks/Open Space 81,122,274 2.38% 4,369,719 0.13% Ut ity Purpose 85,195,682 2.50% 0 0.00% ' Total Debt Ca aci $234,604,125 6.89% $ 21,279,232 0.64% During 1993 $1,535,000 of general obligation bonds, $165,109 of installment contracts, and $1,300,000 of revenue bonds were retired. Bonds issued during 1993 included $13,840,000 in general obligation refunding bonds, $350,000 Flex-line general obligation bonds,$5,285,000 in revenue bonds and$8,860,000 in revenue refunding bonds. The City also contracted for two new Public Works Trust Fund Loans totaling$477,925. During 1993, $9,420 of these loans were redeemed. 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. 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 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 1993,the average interest rate earned by the State Investment Pool was 3.41%, compared to the 4.55% earned by the City. The following table compares 1992 and 1993 investment activity. Item 1993 1992 Difference Average Invested Balance $37,655,112 $36,823,737 $ 831,375 ' Average City Interest Rate 4.55% 4.84% -.29% Average State Pool Rate 3.41% 3.94% -.53% Total Interest Earnings $ 1,805,166 $21012,232 $(207,066) , OTHER INFORMATION , The fmal section of the letter of transmittal will provide information regarding the City's annual audit, awards, and acknowledgments. Xi r City of Renton 1993 CAFR Independent Audit Washington State Law requires an annual audit of the City's financial statements by the independently lir 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 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 1993 has been completed and the City has been issued an unqualified opinion. The "Independent ,r Auditor's Report"is included in the "Financial Section"of this document. Certificate of Achievement ow Certificate of r Achievement The Government Finance Officers' Association of the United States and Canada for Excellence (GFOA) awarded the Certificate of Achievement for Excellence in Financial in Financial Reporting Reporting to the City of Renton for its Comprehensive Annual Financial Report P—tad to for the year ended December 31, 1992. The Certificate of Achievement is a City of Renton, prestigious national award recognizing conformance with the highest standards Washington A-1Fnr Ila for preparation of state and local government financial reports. Coi++prehena4¢e F Report for tho Pixel-1 Yoar Lndad � Uecc+mber 31, 1 n92 . w.....w^wm eirw�n�.s�oed.e cd�mi..m In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized Comprehensive Annual ■. � �� Financial Report, whose contents conform to program standards. Such Comprehensive Annual Financial Reports must satisfy both Generally Accepted Accounting Principles and applicable legal requirements. r Acknowledgments Preparation of this report could not have been accomplished without the professional, efficient, and dedicated services of the entire staff of the Finance and Information Services 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 M 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 1993 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 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 and Information Services Department. Sincerely, CITY OF RENTON /Cy1mr � Victoria A.Runkle Finance and Information Services Administrator cc: Washington State Auditor rr 1W xii 1 1 1 1 U � � E: �NT� 1 ow City of Renton 1993 CA FR to r 1993 Annual Financial Report Financial Section -- - City of Renton 1993 CAFR ■w Legislative Building Washington State Auditor (206) 753-5= PO Box 4W21 Brian Sonntag SCAr17�V7 -` Olympia,Wash850 Washington 94-0021 FAX(206)753-0646 SCAN 234-0646 INDEPENDENT AUDITOR'S REPORT wr June 1, 1994 The Honorable Mayor and City Council 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 fiscal year ended December 31, 1993,as fisted in the table of contents. These financial statements are die responsibility of the city's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and ■r 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 the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis 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 statements taken as a whole. In our opinion,the financial statements referred to above present fairly,in all material respects,the financial position of the City of Renton,King County,Washington,at December 31, 1993,and the results of its operations and the cash flows of its proprietary fund types and similar trust funds for the fiscal year then ended in conformity with generally accepted accounting M" principles. Our audit was made for the purpose of forming an opinion on the general-purpose financial statements taken as a whole. The combining,individual fund,and account group financial statements and schedules listed in the table of contents are presented .r for purposes of additional analysis, and are not a required part of the general-purpose financial statements of the City of Renton,King County,Washington. The information has been subjected to the procedures applied in the audit of the general- purpose financial statements and in our opinion, is fairly stated in all material respects in relation to the general-purpose financial statements taken as a whole. The other data included in this report,designated as the statistical section in the table of contents,has not been audited by us and,accordingly,we express no opinion on such data. Since y r' Sonntag " State Auditor 2 a City of Renton 1993 CAFR s s 1993 Annual Financial Report General Purpose Financial Statements r i r i City of Renton 1993 CAFR COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS: DECEMBER 31, 1993 Page 1 of 2 With Comparative Totals for December 31, 1992 GOVERN.MEIt1Al;;FL)ND ?YP1 S. SPECIAL DEBT CAPITAL GENERAL REVENUE SERVICE PROJECTS ASSETS: Cash and Cash Equivalents .............................. S 2,841,380 $1,269,158 $ 1,786,619 $ 2,065,318 Cash With Fiscal Agent ................................. 0 0 247,922 0 Deferred Compensation Plan Assets - Note 4 ............. 0 0 0 0 Investments - Note 3 ................................... 0 6,959,539 2,060,379 6,633,417 Receivables, net of Allowance for Uncollectibles-Note 5: 2,433,645 166,031 5,302,879 207,977 Due From Other Funds - Note 5 .......................... 2,196 276,480 15,766 4,142 Interfund Loans/Advances-Current Note 5 .............. 0 0 0 0 Due From Other Governmental Units Note 5 ............. 20,448 39,793 0 2,294,712 Inventory of Material and Supplies Note 1 ............ 0 0 0 0 Prepaid Items - Note 8 ................................. 8,000 0 0 0 Investment in Joint Venture - Note 9 ................... 0 0 0 0 Restricted Assets: Deposits ............................................. 0 0 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 Amount To Be Provided Long Term Debt Retirement ... 0 0 0 0 TOTAL::ASSETS $;'5,359;669 811t,001 . . t ;9,413,565 $11,205,566 LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers/Contracts Payable ........................... $ 423,463 $ 254,006 $ 1,620 $ 71,736 Retainage Payable .................................... 0 0 0 0 Due To Other Funds - Note 5 .......................... 162,909 2,446 0 276,656 Interfund Loans/Advances-Current Note 5 ............ 0 0 0 0 Due To Other Governmental Units - Note 5 ............. 787,108 0 0 0 Payables - Note 5 .................................... 1,112 2,995 247,922 0 Deferred Revenues .................................... 1,541,784 0 5,083,080 1,659,638 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 ..................................... 54,255 20,200 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 ........ 148,168 71,683 0 108 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 Works Trust Fund Loan Payable 0 0 0 0 Arbitrage Rebate Tax Payable - Note 12 0 0 0 0 TOTAL LIABILITIES ........................................ $ 3,118,799 $ 401,330 $ 5,332,622 $ 2,008,138 FUND EQUITY AND OTHER CREDITS: Fund Balance: Reserved - Note 1 & 14 ............................. $ 54,000 $ 0 $ 4,080,943 $ 400,089 Unreserved Designated ............................ 414,969 4,269 0 0 Unreserved Undesignated .......................... 1,771,901 8,305,402 0 8,797,339 Contributed Capital .................................. 0 0 0 0 Retained Earnings: Reserved - Note 1 & 14 ............................. 0 0 0 0 Unreserved ......................................... 0 0 0 0 Investments in Joint Venture and General Fixed Assets. 0 0 0 0 TOTAL FUND EQUITY AND OTHER CREDITS $ 2,240,870 $8,309,671 $ 4,080,943 $.'9,197,428 ' TOTAL LIABILITIES, EQUITY AND OTHER CREDITS .............. $,'5,359,669 $8,711,001 $ 9,413,565 �1>1,2Q5566 ' THE ACCOMPANYING NOTES ARE r 4 City of Renton 1993 CAFR Page 2 of 2 ` �fDUfrARY: ACC04lN1 fROUP� COMPARAI'IVB 7(iT'1►LS. ;'> FItOPR1Et`RRY l;UND..'fYPr:9::.. : INTERNAL TRUST GENERAL GENERAL LONG (MEMORANDUM ONLY) ENTERPRISE SERVICE AND AGENCY FIXED ASSETS TERM DEBT 1993 1992 $ 1,018,954 $ 738,322 $ 798,732 $ 0 $ 0 $ 10,518,483 $ 10,366,236 " 1,969 0 0 0 0 249,891 68,249 0 0 4,459,948 0 0 4,459,948 3,439,581 1,281,844 1,150,231 1,990,168 0 0 20,075,578 20,016,323 3,171,608 49,371 88,307 0 0 11,419,818 9,034,458 140,534 0 3,550 0 0 442,668 222,195 0 9,991 95,000 0 0 104,991 9,209 758,343 71,899 0 0 0 3,185,195 1,563,028 268,426 38,704 0 0 0 307,130 295,532 3,938 3,000 0 0 0 14,938 6,938 0 0 0 846,596 0 846,596 646,906 29,170 0 0 0 0 29,170 20,480 4,046,703 0 0 0 0 4,046,703 3,905,118 9,237,889 0 0 0 0 9,237,889 8,017,714 0 29,899 0 0 0 83,899 93,890 89,610,513 1,620,313 0 53,179,610 0 144,410,436 138,216,463 12,502,298 0 0 4,379,411 0 16,881,709 7,022,588 160,000 0 0 0 0 160,000 176,000 0 0 0 0 4,481,031 4,481,031 4,283,477 0 0 0 0 22,289,274 22,289,274 24,671,934 4.4..2.2,232 :189' x_:3,7 11,:734 >r, 7 43.5 705::.: : 58,40:5,617;: S 26,:770,305 :::$253,,245,347::;. $232,076j14:r $ 784,556 S 85,796 S 6,536 $ 0 $ 0 $ 1,627,713 $ 2,132,285 65,955 0 0 0 0 65,955 111,741 w 657 0 0 0 0 442,668 222,195 104,991 0 0 0 0 104,991 9,209 56,181 0 0 0 0 843,289 746,821 442,105 13,463 0 0 0 707,597 455,439 118,033 0 0 0 0 8,402,535 6,763,515 29,170 0 0 0 0 29,170 20,480 374,840 0 0 0 0 374,840 256,025 1,390,000 0 0 0 0 1,390,000 1,120,000 0 61,597 0 0 0 61,597 18,630 0 0 299,655 0 0 374,110 402,324 0 74,005 0 0 0 74,005 106,155 3,390,820 744,560 0 0 17,225,775 21,361,155 21,342,820 (70,841) (10,393) 0 0 0 (81,234) (105,904) 0 0 0 0 5,467,063 5,467,063 7,584,000 26,360,000 0 0 0 0 26,360,000 21,425,000 (626,674) 0 0 0 0 (626,674) (471,992) 325,682 47,760 0 0 3,228,775 3,822,176 3,586,072 0 0 4,459,948 0 0 4,459,948 31439,581 29,899 0 4,000 0 0 83,899 93,890 r 0 1,259,126 0 0 0 1,259,126 723,609 0 0 0 0 448,603 448,603 613,712 1,385,565 0 0 0 0 1,385,565 963,821 8,024 2,911 0 0 400,089 411,024 341,183 $ ';34,168;963 1 2,278,825 '$ 4,770,139 $ 777777T26,7,75305 ';! 7$;849,121 $ :71 ".0-64.1. $ 0 $ 0 $ 7,076,000 $ 0 $ 0 $ 11,611,032 $ 11,335,477 0 0 0 0 0 419,238 298,979 0 0 (4,410,434) 0 0 14,464,208 10,973,990 72,487,995 1,038,192 0 0 0 73,526,187 68,516,381 2,201,018 0 0 0 0 2,201,018 2,504,768 13,374,213 394,713 0 0 0 13,768,926 13,157,367 0 0 0 58,405,617 0 58,405,617 53,388,746 S 88 fl63 226 S� 1 432 905 S.2 665,566 $58,405,617 $ 0 $174,396;226 $'160,175;708 ;1:22, 3189 ?' 3,711:;730 ,435,705 $58,405,617 $26,770,305 $253,245,347 $232,076,319 AN INTEGRAL PART OF THIS STATEMENT 5 City of Renton 1993 CAFR w COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES Page 1 of 1 i FOR ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 GOVERNMENTAL:FUND TYPES COMPARATi1lE TOTAt.s "� SPECIAL DEBT CAPITAL (MEMORANDUM ONLY) GENERAL REVENUE SERVICE PROJECTS 1993 1992 ■r REVENUES Taxes .............................$18,400,707 $10,211,818 $ 2,591,640 $ 364,489 $ 31,568,654 $33,417,415 Licenses And Permits ............... 1,099,509 46,458 0 1,753,614 2,899,581 3,336,558 Intergovernmental Revenues ......... 3,064,613 1,233,319 0 4,377,356 8,675,288 4,370,793 Charges For Services ............... 757,609 679,460 0 1,344 1,438,413 1,611,322 Fines And Forfeits ................. 864,229 16,787 0 0 881,016 884,692 Special Assessments ................ 0 0 888,498 0 888,498 1,739,087 Interest ........................... 307,172 335,032 196,422 232,977 1,071,603 1,642,112 Miscellaneous Revenues 139,714 382,998 0 18,720 541,432 2,441,466 TOTAL REVENUES .. $:Z4 633;553 5:12,905:872: 5 3,676,560 $...'.6`748,500 $ 47;964,485. $ 9+443,445; ..: a... EXPENDITURES Current: General Government ..............$ 3,962,433 $ 1,295,576 $ 0 $ 0 $ 5,258,009 $ 5,645,004 Security Of Persons And Property . 15,654,019 0 0 0 15,654,019 13,551,649 Physical Environment ............. 1,163,369 0 0 0 1,163,369 1,157,112 Transportation ................... 0 2,937,977 0 1,837,429 4,775,406 5,879,085 Economic Environment ............. 2,528,440 626,724 0 0 3,155,164 3,041,773 Mental And Physical Health ....... 8,983 0 0 0 8,983 10,992 Culture and Recreation ........... 0 4,603,052 0 25,000 4,628,052 4,291,090 Capital Outlay ..................... 360,148 189,264 0 3,923,192 4,472,604 11,331,025 Debt Service: Principal Retirement ............. 43,802 0 1,847,160 0 1,890,962 2,150,143 Interest & Fiscal Charges ........ 23,633 0 1,6399643 133,994 19797,270 14997,983 TOTAL.:EXPENDITURES ............. 23;744;827. Jr.9'65Z,593:. :5...3;486,803 5 5;;419,61'5 : 5:::7«2x803,838.:: $49:;055,856:;; EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ...................$ 888,726 $ 3,253,279 5 189,757 $ 828,885 $ 5,160,647 $ 387,589 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ........$ 0 $ 0 $ 11,016,750 $ 1,654,063 $ 12,670,813 $ 1,051,744 Interfund Loan Proceeds ............ 0 0 0 700,000 700,000 0 Interfund Loan Repayments .......... 0 (400,000) 0 0 (400,000) 0 Operating Transfers In ............. 11,000 0 0 985,030 996,030 1,524,860 Operating Transfers (Out) .......... (375,575) (692,688) (303,342) 0 (1,371,605) (2,076,739) Other Financing (Uses) ............. (300,000) 0 0 0 (300,000) 0 Sale Of General Fixed Assets .... 12,000 0 0 101,000 113,000 (589) Funds Remitted to Bond Trustee ..... 0 0 (10,799,410) (3,200,000) (13,999,410) 0 TOTAL OTHERFINANCING'SOURCES''(USES) '$ (652,575) '>$'0,09Z?688) $ (86,002)''' $ 240,093''; $ (1,591,172) $ 499,276: EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES$ 236,151 $ 2,160,591 $ 103,755 $ 1,068,978 $ 3,569,475 $ 886,865 FUND BALANCE JANUARY 1 ............... 1,978,071 6,093,841 3,952,482 8,153,156 20,177,550 19,290,685 Residual Equity Transfers In ....... 0 0 156,068 0 156,068 746,675 Residual Equity Transfers Out ...... 0 (4,761) (131,362) (24,706) (160,829) (746,675) Prior Period Corrections ........... 26,648 60,000 0 0 86,648 0 FUND BALANCE'DECEMBER 31 ............'$ 2,244-,87Q 9,197,428'' $ 23,828,912' $ THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 6 City of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 .....:.:.:: >::::>::: ENERAL:::>fUN :::s>::>:': VARIANCE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> REVENUES Taxes .............................................. $ 18,031,281 $ 18,400,707 $ 369,426 Licenses And Permits ............................... 1,005,000 1,099,509 94,509 Intergovernmental Revenues ............... ,919,253 3,064,613 145,360 Charges For Services 839,840 757,609 (82,231) Fines And Forfeits ................................. 751,600 864,229 112,629 Special Assessments ................................ 0 0 0 Interest ........................................... 300,000 307,172 7,172 Miscellaneous Revenues ............................. 83,057 139,714 56,657 7:OTAL REVENUES ;:............' ......_' .....:<...... S 23;930 031 .:. t 24,633,553 S 70 •5.22'> EXPENDITURES Current: General Government $ 4,069,631 $ 3,962,433 $ 107,198 Security Of Persons And Property ................. 16,292,934 15,654,019 638,915 Physical Environment ............................. 1,301,462 1,163,369 138,093 Transportation ................................... 0 0 0 Economic Environment ............................. 2,950,518 2,528,440 422,078 Mental And Physical Health ....................... 9,470 8,983 487 Culture and Recreation ........................... 0 0 0 Capital Outlay ..................................... 366,076 360,148 5,928 Debt Service: Principal Retirement ............................. 43,802 43,802 0 Interest & Fiscal Charges .. 23,633 23,633 0 TOTAL EXPENDITURES .................!...... : .,.;.... 'S 25,057,526 $ 23,744,827 $ 1,312.': EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (1,127,495) $ 888,726 $ 2,016,221 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 Interfund Loan Proceeds ............................ 0 0 0 Interfund Loan Repayments .......................... 0 0 0 Operating Transfers In ............................. 11,000 11,000 0 Operating Transfers (Out) .......................... (366,394) (375,575) (9,181) Other Financing Sources ............................ (300,000) (300,000) 0 Sale Of General Fixed Assets ....................... 0 12,000 12,000 Funds Remitted to Bond Trustee ..................... 0 0 0 TOTAL OTHER FINANCING';SOURCES (USES) ................. $ (655,394) $ ($52,57$) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (1,782,889) $ 236,151 $ 2,019,040 FUND BALANCE JANUARY 1 ............................... 2,105,095 1,978,071 (127,024) Residual Equity Transfers In ....................... 0 0 0 Residual Equity Transfers (Out) 0 0 0 Prior Period Corrections 0 26,648 26,648 fUNO BALANCE D.ECEMBER;31 $ 322, ..:. 206 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 7 City of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 SPECIAL REVENUE FUND TYPES VARIANCE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> REVENUES Taxes .............................................. S 8,457,850 S 10,211,818 S 1,753,968 Licenses And Permits ............................... 14,000 46,458 32,458 Intergovernmental Revenues ......................... 1,632,459 1,233,319 (399,140) Charges For Services ............................... 590,666 679,460 88,794 Fines And Forfeits ................................. 14,200 16,787 2,587 Special Assessments ................................ 0 0 0 Interest ........................................... 134,850 335,032 200,182 Miscellaneous Revenues 395,788 382,998 (12,790) TOTAL REVENUES ....................................... S 11,239,813 $ 12,905,872 $ 1,666,059 EXPENDITURES Current: General Government ............................... $ 1,470,508 S 1,295,576 S 174,932 Security Of Persons And Property ................. 0 0 0 Physical Environment ............................. 0 0 0 Transportation ................................... 6,058,136 2,937,977 3,120,159 Economic Environment ............................. 633,052 626,724 6,328 Mental And Physical Health ....................... 0 0 0 Culture and Recreation ........................... 4,930,549 4,603,052 327,497 Capital Outlay ..................................... 2,291,885 189,264 2,102,621 Debt Service: Principal Retirement ............................. 0 0 0 Interest 8 Fiscal Charges 0 0 0 TOTAL EXPENDITURES .......... ... .. . S 15,384,130 S 9,652,593 $ 5,731,53T,:. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (4,144,317) S 3,253,279 S 7,397,596 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 S 0 S 0 Interfund Loan Proceeds ............................ 0 0 0 Interfund Loan Repayments .......................... (400,000) (400,000) 0 Operating Transfers In ............................. 0 0 0 Operating Transfers (out) .......................... (450,500) (692,688) (242,188) Other Financing Sources ............................ 0 0 0 Sale Of General Fixed Assets ....................... 0 0 0 Funds Remitted to Bond Trustee0 0 0 ..................... TOTAL OTHER FINANCING SOURCES (USES) ................. S (850,500) :>S t1 :Q92 688) $ (242,188): EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (4,994,817) S 2,160,591 S 7,155,408 FUND BALANCE JANUARY 1 ............................... 5,971,951 6,093,841 121,890 Residual Equity Transfers In ....................... 0 0 0 Residual Equity Transfers (Out) .................... 0 (4,761) (4,761) 0 60,000 60,000 FUND'BALANCE DECEMBER 31 .......................... 97T'134 $ 8,309,671 $ 7,332,537 THE ACCOMPANYING NOTES ARE AN 8 City of Renton 1993 CAFR Page 3 of 4 AEB1 SERYIC fkIND.TXPES CAPI.T1tI.PRO:}EGTS:.FUNR:.:IXP1:S. VARIANCE VARIANCE FAVORABLE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE> $ 2,640,598 $ 2,591,640 $ (48,958) $ 709,000 $ 364,489 $ (344,511) 0 0 0 1,751,000 1,753,614 2,614 0 0 0 8,106,559 4,377,356 (3,729,203) 0 0 0 1,000 1,344 344 0 0 0 0 0 0 1,087,440 888,498 (198,942) 0 0 0 116,500 196,422 79,922 10,000 232,977 222,977 0 0 0 21,893 18,720 (3,173) $ 3,844,538.: S: 3,676;560 $ (167,978) :$ 10,599{452 : $ '6,748,500 S (3,850,952x. rrr $ 0 S 0 $ 0 $ 0 S 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8,755,333 1,837,429 6,917,904 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25,000 25,000 0 0 0 0 9,425,225 3,923,192 5,502,033 1,881,017 1,847,160 33,857 0 0 0 1,873,711 1,639,643 234,068 412,073 133,994 278,079 $ 3,754,728 S 3,486,803 $ 2670925 $ 18,61,7,631 $ 51919,615` $ 112,698,016' $ 89,810 $ 189,757 $ 99,947 $ (8,018,179) S 828,885 $ 8,847,064 $ 12,550,000 $ 11,016,750 $ (1,533,250) $ 3,954,063 $ 1,654,063 $ (2,300,000) 0 0 0 0 700,000 700,000 0 0 0 0 0 0 0 0 0 742,842 985,030 242,188 (303,342) (303,342) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 101,000 101,000 (10,791,781) (10,799,410) (7,629) (5,500,000) (3,200,000) 2,300,000 $ 1,454,877' S (861-0021 S I'<1,540879).: .< `` (803,095} S 240,093i' $ 1,U43;488:` S 1,544,687 S 103,755 $ (1,440,932) $ (8,821,274) $ 1,068,978 $ 9,890,252 3,786,895 3,952,482 165,587 9,402,074 8,153,156 (1,248,918) 1r 0 156,068 156,068 0 0 0 0 (131,362) (131,362) 0 (24,706) (24,706) 0 0 0 0 0 0 580,800 . S ...F797;428:: INTEGRAL PART OF THIS STATEMENT 9 City of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 COMP:..AWW'rz TOTALS (MEMORANDUM ONLY) VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 29,838,729 $ 31,568,654 $ 1,729,925 $33,417,415 Licenses And Permits 2,770,000 2,899,581 129,581 3,336,558 Intergovernmental Revenues ......................... 12,658,271 8,675,288 (3,982,983) 4,370,793 Charges For Services ............................... 1,431,506 1,438,413 6,907 1,611,322 Fines And Forfeits ................................. 765,800 881,016 115,216 884,692 Special Assessments ................................ 1,087,440 888,498 (198,942) 1,739,087 Interest ........................................... 561,350 1,071,603 510,253 1,642,112 Miscellaneous Revenues ............................. 500,738 541,432 40,694 2c441,466 TOTAL:REVENUES" $ 49,613::834: S47,964,485 $(1,644,349) 549,1r43 {i4 . EXPENDITURES Current: General Government $ 5,540,139 $ 5,258,009 $ 282,130 $ 5,645,004 Security Of Persons And Property ................ 16,292,934 15,654,019 638,915 13,551,649 Physical Environment ............................. 1,301,462 1,163,369 138,093 1,157,112 Transportation ................................... 14,813,469 4,775,406 10,038,063 5,879,085 Economic Environment ............................. 3,583,570 3,155,164 428,406 3,041,773 Mental And Physical Health ....................... 9,470 8,983 487 10,992 Culture and Recreation ........................... 4,955,549 4,628,052 327,497 4,291,090 Capital Outlay ..................................... 12,083,186 4,472,604 7,610,582 11,331,025 Debt Service: Principal Retirement ............................. 1,924,819 1,890,962 33,857 2,150,143 Interest & Fiscal Charges ........................ 2,309,417 1,797,270 512,147 1,997,983 TOTAL $ ''62,814: 015..:5': 42,803,838 ''$20,010,177 3 49,055';856': EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $(13,200,181) $ 5,160,647 $18,360,828 $ 387,589 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 16,504,063 $ 12,670,813 $(3,833,250) $ 1,051,744 lnterfund Loan Proceeds ............................ 0 700,000 700,000 0 Interfund Loan Repayments .......................... (400,000) (400,000) 0 0 Operating Transfers In ............................. 753,842 996,030 242,188 1,524,860 Operating Transfers (Out) .......................... (1,120",236) (1,371,605) (251,369) (2,076,739) Other Financing Sources ............................ (300,000) (300,000) 0 0 Sale Of General Fixed Assets ....................... 0 113,000 113,000 (589) Funds Remitted to Bond Trustee (16,291,781) (13,999,410) 2,292,371 0 TOTAL OTHER FINANCING:;SOURCES:>(USES) .,....;......, EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $(14,054,293) $ 3,569,475 $17,623,768 $ 886,865 FUND BALANCE JANUARY 1 ............................... 21,266,015 20,177,550 (1,088,465) 19,290,685 Residual Equity Transfers In ....................... 0 156,068 156,068 746,675 Residual Equity Transfers (Out) .... 0 (160,829) (160,829) (746,675) Prior Period Corrections ... .... 0 86,648 86,648 0 FUND BALANCE DECEMBER 31 .... $ ' 7,211,722 $'23,828,912 $16,617;190 $`20,177,550 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 10 City of Renton 1993 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, 1993 With Comparative Totals for Year Ended December 31, 1992 PROPR1ETAR1f:FUND'"TYPES FIDUCIARY COMPARATIVE TOTALS _..._ ... ........... _ INTERNAL FUND TYPE (MEMORANDUM ONLY) ENTERPRISE SERVICE PENSION TRUST 1993 1992 OPERATING REVENUES: Charges for Services ........................... $22,241,881 $ 5,201,587 $ 0 $27,443,468 $25,653,633 Fire Insurance Premiums ........................ 0 0 51,032 51,032 44,536 Property Taxes ................................. 0 0 246,000 246,000 228,000 Interest Revenue ............................... 0 0 228,286 228,286 149,719 Other Operating Revenue ........................ 257,637 258,597 0 516,234 542,491 TOTAb'OPERATING:'REVENUE ......'......:'.......'...... ;322,494,$1$ ; 5,460,184 $ 525,318 ;328r ...j 2C``'`' ` +i i37�i. OPERATING EXPENSES: Operations and Maintenance ..................... $14,395,639 $ 686,313 $ 0 $15,081,952 $14,276,430 Benefit Payments ............................... 0 4,217,601 283,383 4,500,984 4,043,664 Professional Services .......................... 0 220,702 0 220,702 201,918 Administrative and General ..................... 1,344,875 266,811 7,265 1,618,951 1,495,872 Insurance ...................................... 11,378 421,181 0 432,559 423,923 Taxes .......................................... 2,021,168 0 0 2,021,168 1,879,379 Depreciation .... .. ............. 2,198,331 365,026 0 2,563,357 2,404,872 Yt1TA4 OPERAYIN6<.EXPENSES S 19 971 391 .5 177:634 $ 290 648 $2b 439 673:::::>: 3:24 724 1158 OQ:ERATINI# INGRM.E (LOSS) •..:5:.2,528,127 S . (717,4501 $ . 23: ,67D 1r 2,14S34T' ::: ::: 1:r ��1::::: NON-OPERATING REVENUE (EXPENSE): Interest Revenue ............................... $ 646,908 $ 54,791 $ 0 $ 701,699 $ 811,689 Gain (Loss) on Sale of Assets .................. 0 (23,949) 0 (23,949) 12,118 Other Non-operating Revenue .................... 245,659 77,198 0 322,857 127,156 Interest Expense ............................... (1,468,125) (45,900) 0 (1,514,025) (1,628,930) Arbitrage Expense .............................. (559) (188) 0 (747) (696) Amortization of Debt Discount and Exemse ...... (70,654) (1,476) 0 (729130) (57,099) NON-OPERATING REVENUE:,:.'NET OF'EXPENSES' ......'...... ':$ (646,771) $ 60,476 $ .. 0 $ (586,295;: $$ .(735,762) INCOME'(LOSS)'BEFORE OPERATING' TRANSFERS ......... $ 1,881,356 $ (656,974) 35 23:4,670' $ 1;454;052 $ 1,156,559: OPERATING TRANSFERS IN .......................... 375,575 0 0 375,575 672,125 OPERATING TRANSFERS OUT .......................... 0 0 0 0 (110 000) VET 'INCOME' (LOSS) BEFORE EXTRAORDINARY ITEM $ 2,256,931 $ (656, 74) : ::::::.:.::;; 0 "$ 1,83, , $. 1., i EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 1,433,707 22,782 0 14456,489 384 077. NET INCOME (LOSS),.:.:.,..: .; ..... .,: 3 823,224 ,;;S. (679.756# .:..234 670 Depreciation Reducing Grant Contributed Capital. 159,580 0 0 159,580 121,331 INCREASE'>s(DECREASE)''IN'RETAIN.E) EARNINGS 982,.804 CT4,7561 $ 234,670 S 537,718 `' $ 1r4r938: .... . ., RETAINED EARNINGS, JANUARY 1 ..................... $14,592,427 $ 1,069,708 $2,430,896 $18,093,031 $16,637,093 RETAINED.EAR1.NI.N.GS, JANUARY .,;;RESTATED' ...... $14 59...2,.427 ::Tr 1,069,708 ':.5 2,430;,896 318,09.3,031 5 1b,637,093 Residual Equity Transfers In (out) 0 4,761 0 4 761 0 ..... >$45575:*.231 39«,713 $2,665x566 M3.10:: 8::093'031 RETAINED;`EARNI:N.GS, DECEMBER 31<I.............. CONTRIBUTED CAPITAL, JANUARY 1 ................... $67,478,189 $ 1,038,192 $ 0 $68,516,381 $65,250,795 i Capital Grants ............................... $ 966,423 $ 0 $ 0 $ 966,423 $ 1,852,848 Amortization on Capital Grants ............... (159,580) 0 0 (159,580) (121,331) Other Contributed Capital .................... 4,202,963 0 0 4,202,963 1,534069 CONTRIBUTED.CAPLTAL, DECEMBER 31 S 72,487,995 S 1,038,192 $ 0 $73,526;187 $68,5!5`381 ' FUND EQUITY, DECEMBER 31 ......................... $88,063,226 ;'$ 1,432,905 $2,665,566 .::$92,1.61,697 $86;609'412 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT ,w 11 City of Renton 1993 CAFR , COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 Page 1 of 4 ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS With Comparative Totals for Year Ended December 31, 1992 PROPRIETARY P#�IE1:7YPES:> INTERNAL ENTERPRISE SERVICE CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Customers ................................. $ 21,634,783 $ 0 Cash Received From Other Funds for Goods and Services ........ 410,421 5,201,587 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 ............ (11 001,478) (4,599,037) Cash Paid to Other Funds for Goods and Services .............. (2,935,253) (380,988) Cash Paid to Employees ....................................... (2,561,006) (216,625) Cash Paid for Taxes .......................................... (1,244,710) 0 Cash Paid for Retirees ....................................... 0 0 Interest Revenue 0 0 Other Operating Receipts ..................................... 258,101 258,597 Other Non-Operating Receipts ................................. 31,878 95,297 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... $ 4,592,736.: $ 358;$31 ' CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Proceeds From Interfund Loans ................................ $ 95,000 $ 0 Operating Grants Received .................................... 139,291 0 Operating Transfers From Other Funds ......................... 366,394 0 Operating Transfers To Other Funds ........................... 0 0 Repayments on Interfund Loans ... ................... (13,382) 13,382 NET CASH PROVIDED''(USED) BY NQNEApITAL ;FINANCING ACTIVITIES .... CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds .................................. $ 7,689,789 $ 0 Payments on Bond Issuance and Registration Fees .............. (54,412) (1,720) Proceeds From State Long-Term Loans .......................... 477,925 0 Proceeds From Sale of Equipment .............................. 0 15,909 Acquisition and Construction of Capital Assets ............... (11,097,740) (476,931) Payments Received from Intergovernmental Loan ................ 37,875 0 Capital Contributions ........................................ 1,668,594 0 Capital Grants ............................................... 1,337,881 0 Principal Payments on Bonds .................................. (1,640,260) (67,020) Interest Payments on Bonds ................................... (1,481,676) (48,377) Interest Payments on State Long-Term Loans ................... (2,168,152) 0 Residual Equity Transfer Out ........ 0 4,761 NET CASH PROVIDED (USED) BY'CAPITAL FINANCING ACTIVITIES ....... $ (5,230,176)I' CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ $ 22,148,805 $ 2,010,934 Payments for Investments ..................................... (20,760,215) (1,730,793) Interest on Investments ...................................... 511,589 57,083 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ---f-1,900,179 $ 337,224''' NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS $ 1,850,042 $ 136,059 CASH AND CASH EQUIVALENTS, JANUARY 1 12,482,674 602,263 CASN';,'AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 14,332,716 $ 738,322'>s CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 1,018,954 $ 738,322 Cash Restricted for: Deposits ................................................... 29,170 0 Revenue Bond Debt Service .................................. 4,046,703 0 Construction Account 9,237,889 0 TOTAL CASH AT THE; END OF THE YEAR $ 14,332,716 $ 738,322 d' 12 City of Renton 1993 CAFR Page 2 of 4 FIDUCIARY ' COMPARATIVE>TOTAI,S:> __. ......... _ _ ._ ... .... _ FUND:.:'TYPE (MEMORANDUM ONLY) .............................. PENSION TRUST 1993 1992 $ 0 S 21,634,783 $ 20,644,861 0 5,612,008 4,781,438 51,032 51,032 44,536 246,000 246,000 228,000 (4,640) (15,605,155) (14,733,476) (2,669) (3,318,910) (2,911,755) 0 (2,777,631) (2,641,505) 0 (1,244,710) (1,179,827) (283,383) (283,383) (314,066) 240,928 240,928 156,433 0 516,698 539,629 0 127,175 140,172 $ 247,268::. 5,198;:835 $: 4;:754;440 $ (95,000) S 0 $ 0 0 139,291 53,678 0 366,394 664,715 0 0 (110,000) 0 0 0 $ €95o0a> 505.6$5 .. s; bO8,393i $ 0 $ 7,689,789 $ 4,239,384 0 (56,132) (1,588) 0 477,925 973,241 0 15,909 15,336 awlr 0 (11,574,671) (5,277,394) 0 37,875 0 0 1,668,594 981,831 0 1,337,881 1,281,828 0 (1,707,280) (1,275,035) 0 (1,530,053) (1,715,591) 0 (2,168,152) (1,744) 0 4,761 0 S 0'' $ ,(5,803,554) $'' (779,732) $ 306,342 $ 24,466,081 $ 28,742,916 (262,994) (22,754,002) (29,878,007) 0 568,672 766,658 $ 43,348 S;, 2,280,751 $ (368,433) $ 195,616 $ 2,181,717 S'' 4,214,668 295,818 13,380,755 9,166,087 $ 491,434 S 15,562,472 $ 13,380,755 $ 491,434 $ 2,248,710 $ 1,437,443 0 29,170 20,480 0 4,046,703 3,905,118 0 9,237,889 8,017,714 $ 491,434 $ 15,562,472 $ '' 13,380,755 13 City of Renton 1993 CAFR COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 Page 3 of 4 ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS With Comparative Totals for Year Ended December 31, 1992 PROPRIETARY FUND' TYPES' INTERNAL ENTERPRISE SERVICE RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... S 2,528,127 $ (717,450) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Depreciation and Amortization of Deferred Charge ........... $ 2,214,331 $ 365,026 Other Non-Operating Revenue ................................ 76,317 73,025 (Increase) Decrease in Accounts Receivable ................. (315,395) (12,602) (increase) Decrease in Interest on Investments ............. 0 0 (Increase) Decrease in Due From Other Funds/Governmental ... 3,322 22,272 (Increase) Decrease in Inventory/Prepaid Items ............. (25,722) 14,124 Increase (Decrease) in Vouchers/Contracts/Retainage Payable. 50,288 34,163 Increase (Decrease) in Due to Other Funds/Governmental ..... (1,405) (3,224) Increase (Decrease) in Payables/Other Short Term Liabilities 9,378 44,963 Increase (Decrease) in Customer Deposits ................... 8,690 0 Increase (Decrease) in Deferred Revenues ................... 1,282 0 Increase (Decrease) in Accrued Employee Leave Benefits ..... 39,066 3,017 Increase (Decrease) in Claims Incurred But Not Reported .... 0 535,517 Capital Cost Reported as Operating Expense 4,457 0 Total Adjustments ...................................... S 2,064,609 $ 1,076,281 NET CASH PROVIDED::(USED)<BY OPERAT-ING. CTIVIT.XES ... ........... S 4,592,736 S358,83 °< SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: Fixed Assets Contributed By Developers ....................... $ 2,194,457 $ 0 Fixed Asset Contributed By Other Funds ....................... 6,124 4,556 AssetTrade-In ............................................... 0 25,500 Advance Refunding of Revenue Bonds .. ... ..... 9,092,924 207,169 TOTAL NONCASIi..CAP:ITAL 'AND RELATED FINANCING.ACTiVLTfES. 237;225, THE ACCOMPANYING NOTES ARE AN 14 City of Renton 1993 CAFR Rw Page 4 of 4 FIDUCIARY COMPIIRA>IVB::TOTALS FUND. TYPE (MEMORANDUM ONLY) on PENSION TRUST 1993 1992 $ 234,670 $ 2,045,347 $ 1,892,321 $ 0 $ 2,579,357 $ 2,420,872 0 149,342 87,092 0 (327,997) (297,832) 13,299 13,299 6,714 (657) 24,937 168,522 0 (11,598) 3,623 (44) 84,407 29,554 0 (4,629) (4,038) 0 54,341 3,492 0 8,690 (1,208) 0 1,282 50,128 0 42,083 108,511 0 535,517 288,048 0 4,457 (1,359) aw $ 12,598 $ 3,153,488 $ 2,862,119 247,268 I' $ 5,198,835 $> 4,754, ►0:.. f 0 $ 2,194,457 $ 533,417 0 10,680 29,049 0 25,500 17,691 0 9,300,093 4,543,300 $ 0 $ 11,530,730 $> 5,123,457' INTEGRAL PART OF THIS STATEMENT 15 1 i 1 1 1 i Crry of Renton 1993 CAFR NOTES TO THE FINANCIAL STATEMENTS �► Financial statements need to be supplemented with additional information to fairly present the government's financial position and results of operations in conformity with Generally Accepted Accounting Principles. Additional information is often to detailed or unsuitable for presentation on the face of the financial statements. Therefore, the notes provide this information and become an integral part of the financial statements. r err r r v v r r v OW so r 17 i NOTES TO THE FINANCIAL STATEMENTS INDEX NOTE 1-SIGNIFICANT ACCOUNTING POLICIES...................................................................................................................19 Table1: Property Tax Levy......................................................................................................................................21 Table 2: Fixed Asset Service Life...............................................................................................................................21 Table 3: Employee Leave Payable..............................................................................................................................21 NOTE 2-STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY..........................................................................................21 NOTE 3- CASH&INVESTMENTS .......................................................................................................................................22 Table 4: Reconciliation of Cash and Investments by Fund Group.........................................................................................22 Table 5: Classification of Investments As of December 31, 1993.........................................................................................22 NOTE 4-DEFERRED COMPENSATION..........................................................................................................................I......22 NOTE 5-RECEIVABLES AND PAYABLES.............................................................................................................................22 Table6: Receivables and Payables..............................................................................................................................23 Table7: Interfund Receivables and Payables..................................................................................................................23 Table 8: Interfund Loans/Advances Receivable and Payable..............................................................................................23 Table 9: Due From Other Governmental Units...............................................................................................................24 NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS...................................................................................................24 Table 10: Residual Equity Transfers............................................................................................................................24 Table11: Operating Transfers...................................................................................................................................24 NOTE7-FIXED ASSETS.....................................................................................................................................................24 Table 12: Changes in General Fixed Assets...................................................................................................................24 Table 13: Construction Work In Progress......................................................................................................................25 Table 14: Proprietary Property,Plant&Equipment.........................................................................................................25 NOTE8-PREPAID ITEMS...................................................................................................................................................25 NOTE9-JOINT VENTURES ................................................................................................................................................25 Table 15: Joint Venture Cost Distribution......................................................................................................................25 Table 16: Financing Contributions&Outstanding Debt.....................................................................................................26 Table17: Balance Sheet...........................................................................................................................................26 Table 18: Statement of Revenues,Expenses and Changes in Retained Earnings.......................................................................26 Table19: Joint Venture Equity...................................................................................................................................26 NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT BENEFITS.......................................................................................26 Table 20: PERS and LEOFF Information By Plan...........................................................................................................27 Table 21: PERS and LEOFF Information By System........................................................................................................27 Table 22: Unfunded Pension Benefit Obligation..............................................................................................................27 Table 23: Fire Pension Ten-Year Funding Progress Data...................................................................................................28 Table 24: Fire Pension Ten-Year Revenues and Expenses.................................................................................................28 NOTE 11-CONSTRUCTION COMMITMENTS.........................................................................................................................28 Table 25: Construction Commitments..........................................................................................................................28 NOTE 12-LONG-TERM DEBT.............................................................................................................................................28 Table 26: Long Term Debt Additions and Retirements Summary.........................................................................................29 Table 27: Outstanding Debt as of December 31, 1993 ......................................................................................................30 Table28: Pro Rated Debt.........................................................................................................................................31 Table29: Debt Limit Capacities.................................................................................................................................31 Table30: Refunded Bonds........................................................................................................................................32 Table 31: Changes to Refunded Bond Payable ...............................................................................................................32 Table 32: Refunding Debt Service Analysis...................................................................................................................32 Table 33: Debt Service Requirement to Maturity.............................................................................................................33 NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS....................................................................................................33 NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY........................................................................................33 Table 34: Reservations of Fund Equity.........................................................................................................................33 Table 35: Unreserved Designated Fund Equity...............................................................................................................33 NOTE 15-SEGMENT INFORMATION FOR ENTERPRISE FUNDS...............................................................................................34 Table 36: Segment Information for Enterprise Funds........................................................................................................34 NOTE16-LITIGATION.......................................................................................................................................................34 NOTE 17-RISK MANAGEMENT...........................................................................................................................................34 Table37: Risk Management......................................................................................................................................34 Table38: Outstanding Claims....................................................................................................................................35 Table 39: Changes in Claims Liabilities........................................................................................................................35 NOTE 18-PRIOR PERIOD ADJUSTMENTS................................................................................................................I............35 NOTE 19-SUBSEQUENT EVENTS........................................................................................................................................35 18 City of Renton Notes to The Financial Statements CITY OF RENTON NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 1993 NOTE 1-SIGNIFICANT ACCOUNTING POLICIES liabilities(whether current or non-current)associated with their activity are The City of Renton was incorporated on September 6, 1901 and operates included on their balance sheets. Their reported fund equity (net total under the laws of the State of Washington applicable to a Non-Charter assets) is segregated into contributed capital and retained earnings code city with a Mayor/Council form of govemment. Renton is served by components. Proprietary Fund operating statements present increases a full-time Mayor and seven part-time Council members, all elected at (revenues and gains) and decreases (expenses and losses) in net total large to four-year terms. The City provides the full range of municipal assets. The Proprietary Fund measurement focus is upon determination of .� services authorized by State law, together with a Municipal Airport, a net income,financial position,and reporting of cash flows. Waterworks Utility,a Solid Waste Utility,and a Municipal Golf Course. Enterprise Funds account for operations that are self-supported through The accounting and reporting policies of the City of Renton, which user charges. The enterprise is financed and operated like a private conform to generally accepted accounting principles for governments, are business enterprise, which requires periodic determination of revenues regulated by the Washington State Auditor's Office,Division of Municipal earned,expenses incurred,and net income for capital maintenance,public Corporations. The City's significant accounting policies are described in policy,management control,and accountability. the following notes. Internal Service Funds account for the financing of goods or services THE REPORTING ENTITY provided by one department or agency to other departments or agencies of Based on the criteria of Statement No. 14 of the Govemmental Accounting the City or to other govemments. Standards Board (GASB), the City's Comprehensive Annual Financial Report(CAFR)includes all funds,account groups,agencies and boards for Fiduciary Fund Types which the City is financially accountable. Financial accountability is Fiduciary Funds account for assets held by the City in a trustee capacity or defined as follows: A primary government has substantive authority to as an agent for individuals,private organizations, other governments,and appoint a voting majority of a component unit's board; the primary other funds. These include Expendable Trust, Nonexpendable Trust, government has the ability to impose its will on a component unit; the Pension Trust,and Agency Funds. City of Renton Fiduciary Funds do not component unit can provide a financial benefit to, or impose a financial include any Expendable or Nonexpendable Trust Funds. burden on the primary government; and the component unit is fiscally dependent on the primary government. The Renton Housing Authority has Pension Trust Funds are accounted for in essentially the same manner as been excluded because the City neither reviews its budget nor is obligated Proprietary Funds. Agency Funds are custodial in nature (assets equal to finance any of its deficits. The Mayor does appoint members to the liabilities)and do not involve measurement of results and operations. y. Housing Authority Board,but the Board is fiscally independent of the City. Account Group BASIS OF PRESENTATION-FUND ACCOUNTING Account Groups are used to establish accounting control over the City's The accounts of the City are organized on the basis of funds and account general fixed assets and general long-term debt. The City uses two account groups, each of which is considered a separate accounting entity. Each groups. fund is accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or The General Fixed Assets Account Group accounts for all fixed assets of expenses, as appropriate. 'Be City's resources are allocated to and the City other than those accounted for in Proprietary Funds. The General .� accounted for in individual funds according to the purpose for which they Long-Term Debt Account Group accounts for all long-term debt of the are spent and how they are controlled. The three broad fund categories, City except that accounted for in the Proprietary Funds. seven generic fund types, and two account groups presented in this report are described below. Comparative Data s Comparative total data for the prior year has been presented in the Governmental Fund Types accompanying financial statements in order to provide an understanding of All Governmental Funds are accounted for on a spending or "financial changes in the City's financial position and operations. However, flow" measurement focus. This means that generally only current assets comparative data has not been presented by fund type in each of the and current liabilities are included on their balance sheets. Their reported statements since their inclusion would make the statements unduly fund balance (net current assets) is considered a measure of "available complex and difficult to read. spendable resources." Governmental Fund operating statements focus on measuring changes in financial position, rather than net income; they Total Columns on Combined Statements present increases (revenues and other financing sources) and decreases Total columns on the combined statements are presented only to facilitate (expenditures and other financing uses)in net current assets. financial analysis. Data in these columns do not present financial position, results of operations, or the reporting of cash flows in conformity with The General Fund is the general operating fund of the City. It accounts for generally accepted accounting principles. The data is also not comparable all financial resources and transactions except those required to be to a consolidation. Interfund eliminations have not been made in the +� accounted for in another fund. aggregation of the data. Special Revenue Funds account for the proceeds of specific revenue BASIS OF ACCOUNTING sources(other than special assessments,and major capital projects)that are Basis of accounting refers to when revenues and expenditures or expenses r, legally restricted to expenditures for specified purposes. are recognized in the accounts and reported in the financial statements. Debt Service Funds account for the accumulation of resources for,and the Modified Accrual Basis o(Accounting payment of,general long-term debt principal,interest,and related costs. The modified accrual basis of accounting is followed in all governmental funds and agency funds. Under the modified accrual basis of accounting, Capital Projects Funds account for financial resources to be used for the revenues are recorded when susceptible to accrual, i.e., both measurable acquisition or construction of major capital facilities other than those and available. Available means collectible within the current period or financed by Proprietary Funds. soon enough thereafter to pay current liabilities. Specific major revenue sources subject to accrual are discussed below. Proprietary Fund Types Proprietary Funds are accounted for on a cost of services or "capital The portion of property taxes receivable at year-end that are received in maintenance" measurement focus. This means that all assets and all January for the prior year's levy are recorded as revenue. The remaining 19 City of Renton Notes to The Financial Statements balance is not normally expected to be collected within 30 days after the Encumbrances current period and is, therefore, reported as deferred revenue. Grant An encumbrance system is maintained to account for commitments revenues from cost reimbursement grants are considered earned and resulting from approved purchase orders, contracts, and other therefore available when the expenditure is incurred, in accordance with commitments. Encumbrances remaining at year-end lapse and are NCGA Statement 2. Interest on investments is recorded as revenue when cancelled. Upon request by the department and approval of the City earned. Special assessments and charges for services are recorded as Council, encumbrances may be reappropriated in the following year. At revenue when billed and due within 30 days. Revenue sources which are year-end,the City had encumbrances of$2,592,997. not considered to meet the measurable and available criteria for revenue recognition include licenses and permits, fines and forfeitures, and other ASSETS.LIABILITIES AND FUND EQUITY miscellaneous revenues since they are generally not measurable until Cash&Cash Equivalents received. All highly liquid investments(including restricted assets)with a maturity of three months or less when purchased are considered cash equivalents. Under the modified accrual basis,expenditures are recorded when the fund Included in this category are all funds invested in the Local Government liability is incurred,except for principal and interest on general long-term Investment Pool and Municipal Investors Account. Excluded from this debt, which are recorded when due. Purchases of fixed assets out of category are cash balances held by Fiscal Agents since the City does not Governmental Funds are treated as expenditures during the year incurred have discretionary use of these funds. Cash held by Fiscal Agents is and the assets are capitalized in the General Fixed Assets Account Group. included in an investment type account. Long-term liabilities, including vacation pay not currently due and payable,are accounted for in the General Long-Term Debt Account Group, Investments except for long-term liabilities accounted for in the Proprietary Funds. The City of Renton invests all short-term cash surpluses. A Surplus Bank Balance Fund is maintained to account for these residual investments and Accrual Basis of Accounting earnings are allocated to the general fund. Investments are also held The accrual basis of accounting is followed in all Proprietary Funds and separately by several of the funds with interest earned directly for the the Pension Trust Fund. Revenues are recognized when earned and benefit of each fund. Investments are reported on the financial statements expenses are recognized when incurred. at cost or amortized cost which approximates market,except for the assets held in the deferred compensation program which are valued at market. The revenues of the Waterworks and Solid Waste Utilities,which are based Washington State statutes provide for the City to hold investments upon service rates authorized by the City Council, are determined by consisting of obligations of the federal government, repurchase monthly billings to customers. Revenues of the Golf Course are based on agreements, prime banker's acceptances, and time certificates of deposit user fees, and Airport revenue is based on lease agreements. Earned but issued by Washington State depositories that participate in the Washington unbilled revenues at year-end are accrued and reported in the financial State Public Depository Protection Commission(WPDPC). The WPDPC statements. Fixed asset purchases are capitalized,and long-term liabilities is a multiple financial institution collateral pool administered by the are accounted for in the appropriate funds. Washington Public Deposit Protection Commission. Additional deposit and investment information is presented in Note 3. BUDGETS AND BUDGETARY ACCOUNTING The City of Renton budgets its funds in accordance with the Revised Code Inventories of Washington (RCW) 35A.33. In compliance with the Code, annual Inventories carried in Proprietary Funds are valued at average cost which appropriated budgets are adopted for the General, Special Revenue, Debt approximates the market value. The inventory in the Waterworks Utility Service and Capital Projects Funds. Any unexpended appropriations lapse Fund is charged out at average cost plus a 20%handling fee when issued, at the end of the fiscal year. For Governmental Funds, there are no and the inventory in the Equipment Rental Fund is issued at average cost. substantial differences between the budgetary basis and generally accepted A physical count is taken at year-end in both funds. Governmental Funds accounting principles. Budgetary accounts are integrated in fund ledgers use the purchase method whereby inventory items are considered for all budgeted funds, but the financial statements include budgetary expenditures when purchased. The amount outstanding at year-end is comparisons for annually budgeted Governmental Funds only. Budgets immaterial and is,therefore,not included on the balance sheet. established for Proprietary and Trust Funds are "management budgets," and are not legally required to be reported. Property Taxes Receivable The County Finance Director acts as an agent to collect property taxes Annual appropriated budgets are adopted at the fund level. Subsidiary levied in the county for all taxing authorities. Tares are levied annually on revenue and expenditure ledgers are used to compare the budgeted January 1 on property value listed as of the prior August 31. Assessed amounts with actual revenues and expenditures. As a management control values are established by the County Assessor at 100% of fair market device, the subsidiary ledgers monitor expenditures for individual value. A revaluation of all property is required every two years. functions and activities by object class. Property taxes levied by the County Assessor and collected by the County The City of Renton's budget procedures are mandated by RCW 35A.33. Finance Director become a lien on the first day of the levy year and may be The steps in the budget process are as follows: 1.) Prior to November 1, paid in two equal installments if the total amount exceeds$10. The first the Mayor submits a proposed budget to the City Council. This budget is half of real property taxes is due on April 30 and the balance is due based on priorities established by the Council and estimates provided by October 31. Delinquent taxes bear interest at the rate of 12% and are the City departments during the preceding months, and balanced with subject to additional penalties if not paid as scheduled. revenue estimates made by the Mayor. 2.) The City Council conducts public hearings on the proposed budget in November and December. 3.) At year-end, property taxes are recorded as a receivable with the portion , The Council makes its adjustments to the proposed budget and adopts by not expected to be collected within 30 days offset by deferred revenue. ordinance a final balanced budget no later than December 31. 4.)The final During the year, property tax revenues are recognized when cash is operating budget as adopted is published and distributed within the first received. four months of the following year. Copies of the budget are made available to the public. The tax rate for general City operations is limited to$3.60 per$1,000 of assessed value. Of this amount, up to $.45 pet thousand may be Transfers or revisions within funds are allowed,but only the City Council designated for contribution to the Firemen's Pension Fund if a report by a has the authority to increase or decrease a given fund's annual budget. qualified actuary indicates that additional funds are required. This is accomplished by City ordinance. The budget was amended two times during 1993. Budget amounts presented in the basic financial The payment of principal and interest on Limited Tax(non-voted) Bonds statements include the original amounts,after all transfers and adjustments, issued by the City is made from the general levy. Accordingly, the as approved by the City Council. issuance of Limited Tax General Obligation Bonds has the effect of reducing property taxes available for the general operations of City 20 .. City of Renton Notes to The Financial Statements government. In 1993, the City levied $3.16201 per $1,000 of assessed Accumulated Unpaid vacation and Sick Pay valuation for general purposes and $.07215 for the Firemen's Pension Labor contracts with City of Renton employees call for the accumulation Fund,for a total general tax levy of$3.23416. of vacation and sick leave. At termination of employment,employees with the required length of service may receive cash payments for all State law also provides that the City's operating levy may not exceed 106% accumulated vacation leave to a maximum of 432 hours. Sick leave of the largest single levy of the past three years. The State Constitution termination benefits are based on a percentage of accumulated sick leave provides that the total of all taxes upon real and personal property by the up to a maximum of 480 hours. The payment is based on current wages at State and all taxing entities,including the City,shall not in any year exceed termination. I%($10 per thousand dollars)of the true and fair monetary value of such property. This limitation may be exceeded upon the approval of 60%of Accumulated amounts of vacation leave and related benefits are accrued as .. the City voters at an election in which the total vote exceeds 40%of the expenses when incurred in Proprietary Funds. The current portion of the votes cast at the last preceding general election. Enterprise Funds, $28,152, and the Internal Service Funds, $4,042, is included with the current liability accounts Accrued Wages Payable and For 1993,the City's general tax levy was$3.23416 and the excess levy for Accrued Employee Benefits Payable. In Governmental Funds, only the Unlimited General Obligation Bonds issued for the construction of Gene current portion of the yearly accrual(based on last in-first out formula)left Coulon Memorial Beach Park and Senior Housing was $.4157; a total of unpaid at the end of the fiscal year is recorded as fund liability and $3.64993 per$1,000 on a total assessed valuation of$3,429,366,124,per expenditure. The remainder of the liability is reported in the General the King County Assessor's 1993 Annual Report. Long-Term Debt Account Group. This reporting format is in compliance with NCGA Statement 4. At year-end, 1993, the Governmental Funds Estimated and actual property tax revenue is compared in the following recorded current liabilities of$219,959 on the respective balance sheets table: and a long-term liability for the non-current portion of accumulated vacation and related benefits in the amount of$1,520,653 in the General Table 1: Property Tax Levy Long-Term Debt Account Group. The unpaid liability in the Proprietary Estimated Actual Property Funds at December 31 was$182,495. Item Property Taxes I Taxes Variance General Levy $ 10,932,402 $ 10,736,544 $ (195,858) Accumulated sick leave and related benefits also based on NCGA Excess Lev 1,400,126 1,360,496 39,630) Statement 4 which calls for accrual of Proprietary Fund liabilities and Totals $ 12,332,528 $ 12,097,040 $ (235,488) inclusion of Governmental Fund liabilities in the General Long-Term Debt Account Group. These amounts at December 31, 1993, were $197,790 and$1,708,122 respectively.The following table details the total vacation Assessments Receivable and sick leave liability: Unpaid special assessments receivable is reported in three accounts: current, delinquent, and deferred. Current assessments are those due Table 3: Employee Leave Payable within one month; delinquent assessments are past due; and deferred Item Current I Long-Term Total assessments are due beyond one month. Revenue from the assessments is recognized as it becomes current-that is,both measurable and available to General Governmental Funds $ 219,959 $ 0 $ 219,959 .. finance expenditures of the current period. General Long-Term Debt 0 3,228,775 3,228,775 Proprietary Funds 32,194 373,442 405,636 Fixed Assets and Depreciation Total Leave Benefits $ 252,153 $ 3,602,217 $3,854,370 The accounting and reporting treatment applied to the fixed assets associated with a fund are determined by its measurement focus. Fixed Fund Equity-Reserves and Designations assets acquired in Governmental Funds are accounted for as expenditures The City recognized in its reporting that assets are sometimes not in the fund when the assets are purchased and are capitalized in the "available spendable resources" or at times legally available for General Fixed Asset Account Group at historical cost. Where historical appropriations,because they are contractually or legally restricted for some cost is not known,assets are recorded at estimated historical cost. Donated specific future use. When this is the case, as for example with debt �. assets are valued at estimated fair market value at the time received. service,fund equity is"reserved". However,when management sets aside Infrastructure such as roads, bridges and curbs are considered public portions of fund equity based upon tentative future plans or for property and are not capitalized in the General Fixed Assets Account administrative convenience, these restrictions are reported as Group.Governmental Fund assets are not depreciated. "designations" of unreserved fund equity. Designation is not used in Proprietary Funds. Fixed assets of the Enterprise and Internal Service Funds are recorded at historical cost, and are accounted for in their respective funds. Capital Direct Charges/Credits to Enterprise Funds Retained Earnings contributions are recorded as contributed capital and the assets are The Airport Fund has credited $159,580 directly to retained earnings, r capitalized at their estimated fair market value at the date of donation. representing the retirement of Federal and State contributed capital for the current year. Fixed assets used by Proprietary Funds are depreciated and the accumulated depreciation is reported in Proprietary Fund Balance Sheets. Risk Manaeement and Risk Retention s Annual depreciation is recorded as an expense of the fund. Depreciation is It is the City of Renton's policy to self-insure first level coverages for computed using the straight line method over estimated service life as property, liability, worker's compensation, and employee medical follows: coverages. For mid-level and catastrophic losses the City purchases both commercial insurance coverage,and reserves the right to invoke provisions Table 2: Fixed Asset Service Life of RCW 35A.31.060,which allows cities to levy a non-voted property tax " Asset Estimated Service Life increase to pay for uninsured claims. As of December 31, 1993 the Buildings 25-50 years Insurance Fund's unreserved retained earnings totaled$394,713. See Note Non-Building Improvements 25-50 years 17 for additional information. Utility Plant 25-75 years Equipment 3-20 ears NOTE 2-STEWARDSHIP,COMPLIANCE,AND See Note 7 for additional information. ACCOUNTABILITY There have been no material violations of finance related legal or contractual provisions. r w. 21 City of Renton Notes to The Financial Statements ub NOTE 3- CASH&INVESTMENTS , The City maintains an investment pool available for use by all funds. Interest earned on pooled investments is recorded in the General Fund. additional assessments against members of the pool on a pro rata basis. Investments are also held separately by several of the funds with interest Accordingly,the deposits covered by WPDPC are considered to be insured earned directly for the benefit of each fund. and classified as risk category 1. The City had$43,907,825 in cash and ' investments at year-end which consisted of $9,889,181 in the State DEPOSITS Investment Pool and Municipal Investors Account, $211,000 in All deposits are entirely covered by Federal Depository Insurance (FDIC) certificates of deposit, $32,455,121 in other investments, and$15,232 in or by collateral held in a multiple financial institution collateral pool petty cash.. All cash in excess of current requirements was invested at administered by the Washington Public Deposit Protection Commission year-end with bank deposits reporting a positive cash balance of (WPDPC). The FDIC insures the City's deposits up to$100,000 and the $1,337,290. Table 4 displays the breakdown of cash and deposits by type WPDPC insures amounts over $100,000. The WPDPC provides for of deposits and by fund type. "fable 4: Reconciliation of Cash and Investments by Fund Group State Subtotal CashTotal All Total Cash , Investment &Cash Restricted Cash&Cash IRestricted & Fund Group Cash Pool/MIA* E uivalents Cash Equivalents Investments Investments Investments General $ 27,865. $ 2,813,515 $ 2,841,380 $ 0 $ 2,841,380 $ 0 $ 0 $ 2,841,380 Special Revenue 330,658 938,500 1,269,158 0 1,269,158 6,959,540 0 8,882,698 Debt Service 181,618 1,605,000 1,786,618 0 1,786,618 2,060,379 0 3,846,997 Capital Projects 170,318 1,895,000 2,065,318 0 2,065,318 6,633,418 0 8,698,736 Enterprise (501,045) 1,520,000 1,018,955 723,220. 1,742,175 4,634,497 9,237,889 15,614,561 Internal Service 109,156 629,166 738,322 0 738,322 1,150,231 0 1,888,553 , Trust&Agency 310,7321 488,000 798,732 0 798,732 1,990,168 0 2,788,900 Total 1 $ 629,3021 $ 9,889,1811 $ 11518,483L$ 723,2201 $ 11,241,7031 $ 23,428,2331 $ 9,237,889 1 $ 43,907,825 * Municipal Investor Account INVESTMENTS NOTE 4-DEFERRED COMPENSATION Washington State statutes provide for the City to hold investments The City offers its employees a deferred compensation plan created in consisting of obligations of the federal government, repurchase accordance with Internal Revenue Code Section 457. This plan is agreements, prime banker's acceptances, and time certificates of deposit administered by the Hartford Life Insurance Company and the ICMA with authorized Washington State savings and loan institutions. Retirement Corporation. The plans are available to all City employees Additionally,the Firemen's Pension Fund is authorized to invest in mutual which permits them to defer a portion of their salary until future years. funds and obligations of the federal, state, and local government owned The deferred compensation is not available to employees until termination, public utilities. retirement,death,or unforeseeable emergency. All investments are valued at cost or amortized cost,which is substantially Compensation deferred under the plans and all income attributable to the equivalent to market value. plans are solely the property of the City of Renton. The City's rights to this property are subject only to the claims of the City's general creditors until The City of Renton's investments are categorized to give an indication of paid to the employee or other beneficiary and are not restricted to the the risk assumed at year-end. Category 1 includes investments that are benefit provisions under the plan. The deferred compensation plans either insured, registered or held by the City or its agent in the City of investments are recorded at market value, along with the corresponding Renton's name. Category 2 includes uninsured and unregistered liabilities in the deferred compensation fund. At December 31, 1993,the investments which are held by the counterparty's trust department or agent market value of the plans assets were$4,459,948. in the City's name. Category 3 includes uninsured and unregistered investments which are held by the counterparty's trust department or agent It is the opinion of the City's legal counsel that the City has no liability for in the agent's name. At the end of the year,the City had no investments in losses under the plan but does have the duty of due care that would be category 3. required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Table 5: Classification of Investments As of December 31, 1993 Carrying Market NOTE 5-RECEIVABLES AND PAYABLES Item Category 1 I Category 2 Amount Value Table 6 on the next page details the specific receivables and payables at US Govt $27,575,313 $84,764 $27,660,077 $27,835,788 December 31, 1993. The City provides reserves for potentially Bankers'Accept 1,970,629 1,970,629 1,970,629 uncollectible water, wastewater, storm, metro, solidwaste utility, and Convertible Bonds 236,134 236,134 250,079 airport charges. At December 31, 1993, these reserve balances were Corporate Bonds 32,550 32,550 30,675 $64,740. Sub-Total 29,545,942 353,448 29,899,390 30,087,171 Mutual Funds 1,636,720 2,063,409 Total Investments $29,545,942 $353,448 $31,536,110 $32,150,580 22 City of Renton Notes to The Financial Statements Table 6: Receivables and Payables Special Debt Capital Internal Trust& Item General Revenue Service Projects Enterprise I Service I AgencX Total Receivables: Taxes $ 506,606 $ 0 $ 65,668 $ 0 $ 0 $ 0 $ 0 $ 572,274 Accounts 1,927,039 4,440 0 0 2,857,635 28,394 0 4,817,508 Special Assess-Current 0 0 1,055 0 0 0 0 1,055 Special Assess-Delinq. 0 0 91,695 0 0 0 0 91,695 Special Assess-Deferred 0 0 5,017,412 0 0 0 0 5,017,412 Interest-Special Assess 0 0 67,102 0 0 0 0 67,102 Interest on Investments 1 01 161,591 1 59,9471 207,9771 378,7131 20,9771 88,3071 917,512 Total All Fund Types 1 $ 2,433,6451 $ 166,031 1 $ 5,302,8791 $ 207,9771 $ 3,236,3481 49,371 1 $ 88,3071 11,484,558 Payables: Matured Bonds Payable $ 0 $ 0 $ 40,000 $ 0 $ 0 $ 0 $ 0 $ 40,000 Matured Interest Payable 0 0 207,922 0 1,969 0 0 209,891 Accrued Interest Payable 0 0 0 0 348,097 9,421 0 357,518 Accrued Wages Payable 0 0 0 0 24,460 3,508 0 27,968 Accrued Benefits Payable 0 0 0 0 3,692 534 0 4,226 Accrued Taxes Payable 1,112 2,995 0 0 63,887 0 0 67,994 Total All Fund Types $ 1,1121 $ 2,9951 $ 247,9221 01 442,105 $ 13,463 $ 0 $ 707,597 INTERFUND RECEIVABLES AND PAYABLES INTERFUND LOANS/ADVANCES RECEIVABLE&PAYABLE .. Table 7: Interfund Receivables and Payables The following is a reconciliation of the $188,890 interfund loans and Item Due From Due To advances of which$104,991 is current and$83,899 is long-term: General Fund $ 2,196 $ 162,909 Special Revenue Funds: Table 8: Interfund Loans/Advances Receivable and Payable Park Fund 545 662 Interfund Loans/Advances Street Fund 42,214 0 Community Development 28 1,700 Fund Receivable Payable Impact Mitigation 233,693 84 General Fund $ 54,000 $ 0 Total Special Revenue Funds 276,480 2,446 Special Revenue Funds: Debt Service Funds: Community Dev Block Grant 0 50,000 1983 Unlimited GO 7,611 0 Internal Service Funds Miscellaneous Debt Service 3,187 0 Insurance Fund 39,890 0 1989 Unlimited GO 4,968 0 Enterprise Funds: Total Debt Service Funds 15,766 0 Golf Course 0 134,890 Capital Project Funds: Agency&Trust Funds Open Space 292 1,551 Firemen's Pension 95,000 Municipal Facilities Construction 3,850 0 Advance Travel 10 4,000 " Capital Improvement Fund 0 274,813 Total All Fund Grou s $ 188,890 $ 188,890 Senior Housing Contruction 0 292 Total Capital Project Funds 4,142 276,656 Enterprise Funds: INTERGOVERNMENTAL RECEIVABLES Waterworks Utility Fund 0 0 At December 31, 1993, the receivables from other governmental units Airport Fund 0 0 included federal,state and local grants receivable of$908,858,and several Solid Waste Utility Fund 138 miscellaneous receivables amounting to $2,276,337. Included in these Golf Course Fund 140,396 657 miscellaneous receivables are:$390,003 from Bryn Mawr-Lakeridge Water Water&Sewer Construction 0 0 & Sewer District for their 25% share of a water joint facilities project; Total Enterprise Funds 140,534 657 $1,833,588 from King County (Open Space funds - $1,814,435 and Trust and Agency Funds: auction proceeds-$19,153);$52,746 from Valley Communications Center Firemen's Pension 657 0 representing $43,473 of principal and 9,273 of interest which is the Flexible Benefits 2,893 0 balance of a loan advanced to Valley Com in 1985. See Note 9 for the Total Internal Service Funds 3,550 0 details of this loan transaction. i'otal All Fund Types $ 442,668 $ 442,668 23 City of Renton Notes to The Financia!Statements i Table 9: Due From Other Governmental Units Table 11: Operating Transfers Source Amount General 1ImpactI Capital an Grants: General Gov't Funds Fund Miti on IPro'ects Total ' US Department of Justice $ 20,448 Transfers In: I $ 11,0001 $ 0 $985,0301 $996,030 US Department of Commerce 53,823 Transfers Out: US Department of Agriculture 71,749 Parks Fund $ 0 $ 0 $ 60,000 $ 60,000 US Department of Transportation 145,030 Arterial Street 0 0 279,500 279,500 US Department of Housing&Community Impact Mitigation 0 0 232,688 232,688 Development 42,456 Cable Comm 11,000 0 109,500 120,500 WA Department of Transportation 90,526 LID Guaranty 0 0 303,342 303,342 WA Department of Natural Resources 62,142 Municipal Facilities 0 0 0 0 WA Commission for Outdoor Recreation 203,084 Capital Improvement 0 0 0 0 WA Department of Ecology 219,600 1 Waterworks Utility 0 0 0 0 Subtotal-All Grants 908,858 Insurance Fund 0 0 0 0 ther Governmental Receivables: Total Tranfers Out $ 11,000 $0 $985,030 $996,030 Bryn Mawr-Lakeridge Water&Sewer District 390,003 King County 1,833,588 Golf Insurance Valley Communications Center 52,746 Pro rieta Funds Course Fund Total Transfers In: $375,575 $__01 $ 375,575 [Total Due From Other Governmental Units $3,185,195 Transfers Out: General Fund $375,575 $0 $ 375,575 NOTE 7-FIXED ASSETS INTERGOVERNMENTAL PAYABLES General Fixed Assets are long lived assets of the City as a whole. When , A total of$843,289 was recorded as due to other governmental units at purchased,leased,or constructed,such assets are recorded as expenditures December 31, 1993. This included: 1.) $30,151 for Narcotics grant in the Governmental Funds and capitalized in the General Fixed Assets reimbursement to the agencies as follows: $9,730 to the City of Tukwila; Account Group. All fixed assets are valued at historical cost, estimated $9,330 to the City of Auburn;$11,014 to the City of Kent;and$77 to the historical cost, or fair market value at time of donation. No depreciation Department of Justice, 2.) $756,957 is the portion of Municipal Court's has been provided on general fixed assets,nor has interest been capitalized. outstanding receivables for bail due to the State; 3.) $56,181 to the Infrastructure assets are considered public property and are not accounted Washington State Department of Community Development for current for in the General Fixed Assets Account Group. At the end of 1993 portion due on Public Works Trust Fund loans. nineteen projects comprised the Construction Work in Progress. Upon completion, the projects will be capitalized in the General Fixed Asset Account Group in their appropriate categories. Tables 12 and 13 describe the changes in the City's general fixed assets during 1993 and the NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS Construction Work In Progress at the end of the year. � . Interfund transfers are classified as either operating transfers or residual Table 12: Changes in General Fixed Assets equity transfers. Operating transfers are accounted for as "other financing sources or uses" and are included in the operating statements. Residual Beginning Ending Asset Balance Additions I Deletions Balance equity transfers are direct additions or subtractions to fund balance/fund equity. Contributions to Proprietary Funds are recorded as contributed Land $13,825,812 $ 0 $ 0 $13,825,812 capital in those funds. The following interfund transactions occurred in Building 19,377,136 42,119 0 19,419,255 1993: Non-Bldg Improv 13,654,404 86,335 0 13,740,739 Equipment 5,762,095 534,740 103,030 6,193,805 Const in Progress 122,393 4,325,499 68,482 4,379,410 Total 1 $52,741,8401$4,988,6931 $171,512 $57,559,021 Table 10: Residual Equity Transfers Special Special Fixed assets of Proprietary Funds are capitalized in their respective balance Assessment Assessment Equip. sheets.. These assets are stated at cost,estimated cost when original cost is Item Debt Guaranty Rental "l'otal not available, or fair market value at the time received in the case of contributions. Depreciation expense is charged to operations of Transfers In: 24,706 131,362 4,761 $ 160,829 Proprietary Funds to allocate the cost of fixed assets over their estimated Transfers Out: useful lives, using the straight-line method with useful lives of 3 to 75 Street 4,761 4,761 years. Special Assess Debt 131,362 131,362 Special Asses Cont 24,706 24,706 The City's policy is to capitalize net interest on Proprietary Fund Total 24,706 131,362 4,761 160,829 construction projects until completion of the project. The amount of capitalized interest equals the difference between the- interest cost associated with the tax exempt borrowing used to finance the project and the interest earned from temporary investment of the debt proceeds. Capitalized interest is amortized on the straight-line basis over the estimated useful life of the asset. For 1993, interest costs incurred on construction projects in Proprietary Funds were not material. 24 City of Renton Notes to The Financial Statements w Table 13: Construction Work In Pro ress Table 14,below,provides a summary of Proprietary Fund property,plant, Estimated Estimated and equipment as of December 31, 1993. Cost To Remaining Total Project Date Costs Cost Cedar River Park Improvement $ 5,751 $ 24,249 $ 30,000 Council Chambers Audio/Visual 3,545 213,455 217,000 CONTRIBUTED CAPITAL RETIREMENT Municipal Space Needs 147,950 759,468 907,418 The Airport Fund has $5,706,067 of contributed capital which includes Cedar River Maintenance Shop 13,701 16,299 30,000 $5,566,467 of Federal, $53,775 of State, and $85,825 of private sources Library Improvement Project 6,025 1,314,730 1,320,755 Which is being retired on an annual basis. The unamortized balance as of Senior Center Greenhouse 19,221 6,429 25,650 December 31, 1993 was$1,999,770. Black River Forest 35,791 599,675 635,466 Cedar River Trail 542,281 1,387,779 1,930,060 The Airport is the only fund which amortizes its contributed capital at this oney Creek/May Creek 313,627 65,815 379,442 time. The Waterworks Utility Fund has $70,483,225 of contributed ake Washington Waterfront 21,947 91,886 113,833 capital. The Equipment Rental Fund has $1,038,192 of contributed pringbrook Trail 13,070 404,316 417,386 capital,and the Golf Course Fund has$5,000 of contributed capital. These F/Honey Creek Trail 1,958 1,042 3,000 funds'contributed capital are not being retired. FBlack River Forest 7,478 201,522 209,000 May Creek Trailhead 81,951 27,249 109,200 May Creek Trail/IAC 80,634 88,566 169,200 Puget Western Property Acq 81,397 586 81,983 AC/CED RV TR-Narco/Acq 203,084 0 203,084 dw ED Riv TR C/F Narco/Acq 1,800,000 0 1,800,000 ED Riv TR/Narco/OS 1 1,000,000 0 1,000,000 Total 4,379,411 5,203,066 9,582,477 Table 14: Proprietary Property,Plant&Equipment Waterworks Airport Solid Waste Golf Course Total Enterprise Equipment Total Internal Asset Utility Fund Utility Fund I I Rental Service Land $ 2,166,491 $ 784,080 $ 0 $ 2,683,200 $ 5,633,771 $ 0 $ 0 Buildings 4,302,693 353,516 0 460,178 5,116,387 0 0 Equipment 3,852,274 33,410 386,330 119,252 4,391,266 3,908,090 3,908,090 Other Improvements 92,803,957 8,043,707 0 1,906,475 102,754,139 0 0 .. Construction Work in Progress 12,435,729 62,718 0 3,851 12,502,298 0 0 Total Assets $ 115,561,144 $ 9,277,431 $ 386,330 $ 5,172,956 $ 130,397,861 $ 3,908,090 $ 3,908,090 Less Accumulated Depreciation 22,590,338 5,205,500 (60,688 (428,524 (28,285,050) (2,287,777 (2,287,777 Net Property,Plant,&Equipment $ 92,970,806 $ 4,071,9311$ 325,642 $ 4,744,432 $ 102,112,811 $ 1,620,313 $ 1,620,313 NOTE 8-PREPAID ITEMS The allocation of prorated financial participation among the four The General Fund has recorded$8,000 of prepaid items at December 31, participating cities is the percentage of dispatched calls attributed to each 1993. This amount represents prepaid postage charges to be expensed in jurisdiction compared to the total estimated dispatched calls, for the .. 1994. The Airport Fund has recorded $3,938 of prepaid items at current twelve month period ending December 31. The percentages are December 31, 1993. This amount represents prepaid insurance charges to applied to the current approved budget,less revenue from all other sources. be expensed in 1994. The Insurance Fund has recorded$3,000 of prepaid Distribution of current year net income is based on the same percentages. items at December 31, 1993. This amount represents a revolving fund The 1993 cost distribution for the four participating cities was as follows: established to pay claims by our insurance broker. s Table 15: Joint Venture Cost Distribution NOTE 9-JOINT VENTURE Cit Dis atchable Calls I %of Total 1 1993 Assessments The "Valley Communications Center" was established August 20, 1976, when an Interlocal Agreement was entered into by the four participating Renton 51,595 26.84% $ 677,536 MW municipal corporations, including the cities of Renton, Kent,Auburn, and Kent 56,000 29.13% 735,344 Tukwila. The agreement is sanctioned by the provisions and terms of the Auburn 42,835 22.28% 562,426 "Interlocal Cooperation Act"pursuant to RCW 39.34. The initial duration Tukwila 41,800 21.75% 549,047 of the agreement was five years, and thereafter is automatically extended Total 192,230 100.00% _11,524,353_j r for consecutive two year periods,unless terminated by one or more of the participating cities. Any such termination must be in writing and served Valley-Com is governed by an Administration Board, composed of the upon the other cities on or before July 1 in any one year, and such Mayors or designated representatives from the four participating cities of termination shall then become effective on the last day of such year. Renton, Kent, Auburn, and Tukwila. The Administration Board is responsible for the following functions: 1.) Budget review and The purpose of the joint operation,hereafter referred to as Valley-Com, is recommendations to the legislative bodies of the participating cities, and to provide improved consolidated emergency communications (dispatch) budget adoption after each legislative body has approved the required services for police,fire,and medical aid,to the four participating cities and financial participation for the ensuing year; 2.) Approves appointment to the several subscribing agencies, which include King County Fire and/or discharge of the Director;3.)Approves personnel policy and makes +� Districts #20, #40, #43, #46, #47; City of Pacific Police and Fire final decisions on all major policy changes; 4) Reviews and approves all Departments;City of Algona Police Department;and Valley Medic Units. contracts. Separate agreements between Valley-Com and the subscribing agencies have been executed, which set forth conditions of services and rates charged. 25 City of Renton Notes to The Financial Statements .. In addition, an Operations Board provides direction, and consists of two Table 18: Statement of Revenues,Expenses and Changes in Retained members of each participating city's Public Safety Departments,including Earnings the heads of such departments or their designees. The Operations Board Item Amount performs the following functions: 1.) Oversees the operation of Valley- Operating Revenues: , Com, and advises and makes recommendations to the Administration Intergovernmental Charges $2,963,057 Board; 2.) Makes recommendations on Director selection; 3.) Presents Miscellaneous 2,246 proposed policies and budgets to the Admin. Board; 4.) Approves Transfers In 0 disbursement of funds by the Director. Total Operating Revenues 2,965,303 The Director presents a proposed budget to the Operating Board on or Operating Expenses (2,356,161) before August 15 of each year. Said budget is then presented to the Net Operating Income 609,142 Admin.Board by September 1 of each year. The Admin.Board can make Non-Operating Revenues(Expenses): changes to the proposed Valley-Com budget as it finds necessary,but final Interest and Misc.Revenues 59,568 ' approval falls to the legislative body of each participating city, in Expense 17,440 accordance with the provisions of the Interlocal Agreement. Total Non-Operating Revenues(Expenses) 42,128 Net Income(Loss) 651,270 The Interlocal Agreement was amended in February 1985,when the four Retained Earnings at Beginning of Year 2,173,660 ' participating cities agreed to contribute the financing for construction of a Retained Earnings at End of Year $2,824,930 new Valley-Com facility. The total amount of financing needed was distributed among the four cities, based on dispatchable call statistics for 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, The share of equity belonging to the four participating cities is shown in bearing 8.75% interest. The City of Renton's portion of the loan was Table 19 on the next page. Liabilities are the responsibility of the four advanced from the Equipment Rental Fund, and repayment will be participating cities in direct proportion to their equity position. Audited, received into this fund. Following is a schedule of financing contributions, 1993 financial statements are available from Valley-Com. , and outstanding debt for the building loan at 8.75%maturing 4/1/95. Table 19: Joint Venture E uit Table 16: inancing Contributions&Outstanding Debt Item Renton Kent I Auburn Tukwila I Total Building Loan Building Loan Equity 12/31/92 $646,906 $653,071 $529,101 $344,582 $2,173,660 Authorized Outstandin- Prior Period Ad'. 0 0 0 0 0 Cit %of Total I Amount l/l/93 Redeemed 1 12/31/93 AdjEquity l/1/93 646,906 653,071 529,101 344,582 2,173,660 Renton 31.81% $245,533 $75,019 $31,546 $43,473 1993 Increase 199,690 216,728 165,763 161,821 744,002 , Kent 28.84% 222,609 68,015 28,601 39,414 Equity 12/31/93 $846,596 $869,799 $694,864 $506,403 $2,917,662 Auburn 26.38% 203,621 62,213 26,161 36,052 %of Equity 29.01% 29.81% 23.82% 17.36% 100.00% Tukwila 12.97% 100,112 30,587 12,862 17,725 %of 1993 Distrib 26.84% 29.13% 22.28% 21.75% 100.00% Total 100.00% $771,875 $235,834 $99,170 $136,664 NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT Tables 17 and 18 show the condensed financial position as of December BENEFITS 31, and the results of operation and changes in retained earnings for the All of the City's full-time and qualifying part-time employees participate in year ended 1993. one of the following three defined benefit retirement systems: 1.) Public Employees'Retirement System(PERS);2.)Law Enforcement Officers and Fire Fighters Retirement System (LEOFF) which are both established by State statute and administered by the State's Department of Table 17: Balance Sheet Item Amount Retirement Systems; and 3.) The Firemen's Pension System established Assets: and administered by the City according to State statute. The City's total Current Assets $4,484,391 payroll for all employees was $22,125,495 for the year ended December Property,Plant and Equipment 2,403,603 31, 1993. Total Assets $6,887,994 The pension benefit obligation presented by each system are standard Liabilities and Fund Equity: disclosure measures of the present value of pension benefits, adjusted for Current Liabilities $ 439,053 the effects of credited projected salary increases and step-rate benefits Long-Term Liabilities 1,010,414 (LEOFF only)estimated to be payable in the future as a result of employee Total Liabilities 1,449,467 service to date. The measure, which is the actuarial present value of Retained Earnings 2,824,930 projected benefits, is intended to help users assess the system's funding Contributed Capital 2,613,597 status on a going concern basis, assess progress made in accumulating Total Fund Equity 5,438,527 sufficient assets to pay benefits when due, and make comparisons among Total Liabilities and Fund Equity $6,887,994 systems and employers. The standardized disclosure method is independent of the actuarial funding method used to determine ' contributions to the retirement systems. 26 City of Renton Notes to The Financial Statements Table 20: PERS and LEOFF Information By Plan .. PERS PLAN I PERS PLAN II LEOFF PLAN I LEOFF PLAN II (Membership prior to (Membership on or (Membership prior to (Membership on or Item 10/l/77) after 10/1/77) 10/1/77) 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 @ 12/31/93 6.00% 5.00% 6.00% 8.41% Actual Amount $ 196,892 $ 472,655 $ 175,332 $ 470,701 Required rate @ 12/31/93 6.00% 5.2% 6.00% 8.45% Required Amount $ 196,892 $ 501,481 $ 175,332 $ 530,481 Employer Contribution: Actual rate @ 12/31/93 7.41% 7.41% 6.00% 5.05% Actual Amount $ 227,211 $ 725,186 $ 181,761 $ 296,507 Required rate @ 12/31/93 7.41% 7.41% 6.00% 5.07% Required Amount $ 243,162 $ 714,611 $ 175,332 $ 318,289 * Receive reduced benefits. PUBLIC EMPLOYEE'S RETIREMENT SYSTEM prior to March 1, 1970, when the LEOFF retirement system was PERS is a contributory multi-employer cost-sharing retirement system. All established. The System is considered part of the City's reporting entity of the City's non-uniformed employees are covered by this system. and is included in the City's financial statements as a pension trust fund. Membership in the system includes elected officials; state and local At December 31, 1993,there were 45 members in the System,including 38 governmental employees;and other public employees.Approximately 50% retirees and beneficiaries currently receiving benefits and terminated of PERS members are state employees. The system provides retirement employees entitled to benefits but not yet receiving them; 7 vested active benefits at 2%of the final average salary per year of service. members and no nonvested active members. The City's payroll for employees covered by the System for the year ended December 31, 1993 LAW ENFORCEMENT OFFICERS&FIRE FIGHTERS RETIREMENT was$447,394. SYSTEM The LEOFF system is also a contributory multi-employer cost-sharing The retirement benefits vest after 20 years of service. Members may retire system for all uniformed law enforcement officers and fire fighters. The after 25 years of service regardless of age;and after age 50 with 20 or more retirement benefits are calculated as a percentage of final average salary years of service. The plan also provides death and disability benefits. The based on years of service. Contributions to both systems by employee and benefit provisions and all other requirements are established by State employer are based on actuarially determined requirements and established statute. .. by State statute. The City's contribution in 1993 represents its full liability under both systems except certain medical and disability premiums under Significant Accounting Policies and Plan Assets the LEOFF Plan 1, which are considered immaterial. There were no Please refer to Note 1 to the financial statements with regards to the material changes in benefit provisions, actuarial assumptions, actuarial significant accounting policies. Investments in the System are valued at funding methods,or other significant facts and the aggregate effect on the cost,and completed transaction method is used in gain or loss recognition .. employer's contribution rate. on exchanges of securities. There were no material changes in any accounting policies in 1993. Table 21: PERS and LEOFF Information By System Item(in million dollars) PERS LEOFF Funding Status and Progress The contribution requirement and pension obligation was computed as part City Payroll Covered $ 12.925 $ 9.200 of an actuarial valuation performed as of December 31, 1992. Significant City's Contribution as%of Covered Payroll 7.36% 5.19% actuarial assumptions used in the valuation of both include: 1.) 8% Empl Contrib as%of Covered Payroll 5.18% 7.02% investment return, compounded annually,: 2.) 6.25% salary increase Total Payroll Covered By System $ 4,906 $ 506.7 annually,5%due to inflation and 1.25%for merit increase;3.) 0%growth City's Actuarially Determined Contrib Req in fire insurance premium;4.)8%annual increase in property tax;and 5.) as a%of Total Contribution Requirement .26% 1.81% 5%increase in consumer price index. There were no material changes to Total Pension Benefit Obligations $ 9,758 $ 4,281 the benefit provisions,actuarial funding method or other significant factors Less Net Assets Available For Benefits (8,344) (3,141) that affect contributions required. Unfunded Actuarial Present Value Of Accumulated Plan Benefits $ 1,414 $ 1,140 Unfunded Pension Benefit Obligation The standardized measure of the unfunded pension benefit obligation as of The system does not make separate measurements of assets and pension December 31, 1993,is as follows: benefit obligation for individual employers.The pension benefit obligation and net assets available for benefits for the systems as a whole were determined by the office of State Actuary as of December 31, 1992. Table 22: Unfunded Pension Benefit Obligation Item Amount �. Historical trend information showing the systems' progress in Retirees and beneficiaries currently receiv'g benefits $ 6,224,000 accumulating sufficient assets to pay benefits when due are presented in Current Employees: the State of Washington Department of Retirement Systems'June 30, 1993 Cumulative Employee Contribution 55,000 Comprehensive Annual Financial Report. Employer Contribution-vested 797,000 Total Pension Benefit Obligation $ 7,076,000 FIREMEN'S PENSION Net assets available for benefits,at cost Plan Description (Market Value$3,287,251) (2,478,168) The City contributes to the Firemen's Pension Plan(the System),a closed, Unfunded Pension Obligation $ 4,597,832 single-employer, defined benefit retirement plan established and administered by the City in accordance with the Renton Municipal Code and State statutes. This system was established for fire fighters employed .r 27 City of Renton Notes to The Financial Statements Actuarial Funding Method & Amortization of Unfunded Pension actuarially determined in 1982, 1986, 1988, 1990 and 1992. Amounts Obligation included for other periods were estimated based on the most recent The System's funding policy requires the employer to make contributions actuarial result. for the actuarially determined amount using the Aggregate Cost funding method. This method does not explicitly calculate the cost of benefits The contributions to the System for 1993 of $246,000 were made in accruing during the year for active employees, i.e., normal cost. On an accordance with actuarially determined requirements and represent 60%of estimated basis, approximately $55,000 of the 1993 cost is for active the covered payroll.Other incomes to the system include$51,032 from fire employees with the remaining amount paid toward reducing the unfunded insurance premiums and $228,286 of investment income. Trend data liability. The unfunded obligation is amortized over the period ending presented below is designed to provide detailed information on the December 31,2008,assuming cost increases 8%annually. Employees are System's accumulation of sufficient assets to pay benefits when due. not required to make contributions. Pension benefit obligations were Table 23: Fire Pension Ten-Year Fundingogress Data Net Assets Pension Benefi I 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 1993 $ 2,478,168 $ 7,076,000 35.02% $4,597,832 $447,394 1027.69% $ 246,000 54.98% 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 1 850,551 1 7,595,000 1 11.20% 6,744,449 652,375 1033.83% 202,145 30.99% 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 1993 $ 246,000 $ 51,032 $ 228,286 $ 525,318 $ 283,383 $ 7,265 $ 290,648 1992 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 1 37,788 51,370 1 291,303 200,387 3,057 203,444 OTHER POSTEMPLOYMENT BENEFITS NOTE 11-CONSTRUCTION COMMITMENTS In addition to the pension benefits described in Note 10,the City provides At December 31, 1993, the City had significant contractual construction postemployment benefits in accordance with State statute to all LEOFF I commitments.These are listed below: (law enforcement officers and fire fighters hired prior to 10/1/77)and Fire Pension(fire fighters hired prior to 3/1/70)retirees. Currently there are 76 Table 25: Construction Commitments LEOFF I retirees who receive necessary medical and hospitalization Project Title Commitment I Funding Source coverage and five retirees who are covered solely by the Fire Pension Plan Revenue and receive medical coverage limited to treatment of service related Bonds/Public works disabilities only. Expenditures for postemployment health care benefits are Waterworks Improvements $ 2,325,840 Trust Fund Loans recognized as retirees report claims. The City does not have a funding Senior Housing Improvements $ 265,290 GO Bonds , policy at this time and no assets are designated for this purpose. During Airport Improvements $ 146,323 Grant the year,expenditures of$196,119.93 were recognized for postemployment Street Improvements $ 516,482 General/Grant health care. NOTE 12-LONG-TERM DEBT State statute provides that the City's responsibility for medical payments of The City of Renton's long-term debt consists of General Obligation Debt, LEOFF I retirees is secondary to any other coverage retirees receive or are repaid mainly from general governmental revenue sources;Special eligible to receive. 'Be City recognizes a potential savings exists when Assessment Debt,repaid from special assessment payments from retirees utilize medicare as primary coverage and the City for secondary participants;and Proprietary Debt,repaid from proprietary revenues. coverage and ineligible expenses. Therefore, upon reaching age 65, the These debts are accounted for in the following areas: 1.)The outstanding City requires the retirees to apply for and utilize Medicare Part B coverage. general obligation debt,except for the portion applicable to proprietary The City reimburses these medicare premiums at an average cost of operations,is reported in the General Long-Term Debt Account Group;2.) approximately $32 per month for 20 LEOFF I retirees and five Fire The repayment,or debt service of the same,is recorded in the Debt Service Pension retirees. Funds;3.)The proprietary debt includes the portion of general obligation debt applicable to proprietary operations. Both the liability and repayment of the same are reported in individual Proprietary Funds. The City has an 28 City of Renton Notes to The Financial Statements A 1 bond rating from Moody's Investors Service for both its General Obligation Bonds and Revenue Bonds. Table 26 summarizes long-term debt transactions of the City for the year ended December 31, 1993. A detail of all outstanding debt of the City is listed in table 27 on the following page. Table 26 Long Term Debt Additions and Retirements Summary Payable Payable Item 1/1/93 Added Retired 12/31/93 General: General Obligation $17,363,397 $11,016,750 $11,154,372 $17,225,775 Installment 613,712 0 165,109 448,603 Contracts Arbitrage 330,995 69,094 0 400,089 Special Assessment 7,584,000 1,654,063 3,771,000 5,467,063 Employee Leave Benefits 1 3,063,307 1 165,468 0 1 3,228,775 Total General $28,955,411 $12,905,375 $15,090,481 $26,770,305 Proprietary: Revenue Bonds $22,545,000 $14,145,000 $8,940,000 $27,750,000 General Obligation 4,341,603 3,173,250 2,930,628 4,584,225 Arbitrage 10,188 747 0 10,935 Employee Leave Benefits 331,359 42,083 0 373,442 Public Works Trust Fund Loan 1 973,241 477,925 9,420 1,441,746 Total Proprietary $28,201,391 $17,839,005 $11,880,048 $34,160,348 Total All Funds Revenue Bonds $22,545,000 $14,145,000 $8,940,000 $27,750,000 General Obligation 21,705,000 14,190,000 14,085,000 21,810,000 Installment 613,712 0 165,109 448,603 Contracts Arbitrage 341,183 69,841 0 411,024 Special Assessment 7,584,000 1,654,063 3,771,000 5,467,063 Employee Leave Benefits 3,394,666 207,551 0 3,602,217 Public Works Trust Fund Loan 973,241 477,925 9,420 1,441,746 Total All Funds $57,156,802 $30,744,380 $26,970,529 $60,930,653 DEBT PRO RATED BETWEEN FUNDS The 1986 Limited General Obligation Bond issue and the 1993 Limited General Obligation Refunding Bond Issue included funds to provide permanent financing for the purchase of a Golf Course which was acquired in 1985. The$3,460,660 is the remaining obligation for this purchase and is reported on .r. the balance sheet of the Enterprise Funds. Likewise,a pro rata share of the 1985, 1986, 1989 and 1992 general obligation bonds were for the benefit of the Equipment Rental Fund and are therefore reported on the balance sheet of the Internal Service Fund. The entire debt in each instance is secured by the full faith and credit of the general government. Table 28 provides a reconciliation of debt distribution between the Proprietary Funds and the General Long Term Debt Account Group. .r r .r 29 City of Renton Notes to The Financial Statements , Table 27 Outstanding Debt as of December 31, 1993 , Interest Issue Maturity Outstanding Item Rates Date Date Authorized 1/1/93 Issued Redeemed Refunded 12/31/93 GENERAL OBLIGATION BONDS: Limited , 1978 Senior Citizens Center 5,38% 02/01/78 02/01/98 $900,000 $385,000 $0 $55,000 $0 $330,000 1983 G O Refunding Bonds 8.70%-9.30% 06/01/83 05/01/02 2,655 000 115,000 0 115,000 0 0 1986 G O Bonds 6.50%-9.00°/ 06/01/86 06/01/02 9,220,000 6,540,000 0 555,000 4,390,000 1,595,000 1989 GO Bonds 6.101/6-7.00% 02/01/89 02/01/02 1,600,000 1,345,000 0 95000 0 1,250,000 1989 G O Refunding Bonds 6.75%-7.00% 06/01/89 05/01/02 2,085 000 2,000,000 0 30,000 0 1,970,000 1992 G0Bonds 2.60%-500% 10/01/92 12/01/02 1,365,000 1,365,000 0 105,000 0 1,260,000 1993 G 0 Bond(FlexLine) 2,80%4,95% 03/01/93 12/01/99 350,000 0 350,000 45,000 0 305,000 1993 G O Refunding Bonds 3.00-4.80% 08/01/93 06/01/02 4,910,000 0 4,910,000 0 0 4,910,000 , Subtotal Limited GO 23,085,000 11,750,000 5,260,000 1,000,000 4,390,000 11,620,000 Unlimited 1983 G 0 Refunding Bonds-Coulon Pk 6.00%-10.00°/ 05/01/83 05/01/02 7,140,000 4,755,000 0 370,000 4,385,000 0 1989 G O Bonds-Sr Housing 6.401/,7.50% 02/01/89 02/01/09 5,500,000 5,200,000 0 165,000 3,775,000 1,260,000 1993 G O Refunding Bonds-Coulon Pk(Tx) 4.00%6.10°/ 09/01/93 05/01/02 4,660,000 0 4,660,000 0 0 4,660,000 1993 G O Refunding Bonds-Sr Housing 2.7(r/,5.20% 09/01/93 02/01/09 4,270,000 0 4,270,000 0 0 4,270,000 Subtotal Unlimited GO 21,570,000 9,955,000 8,930,000 535,000 8,160,000 10,190,000 ' Total General Obligation Bonds $44,655,000 $21,705,000 $14,190,000 $1,535,000 $12,550,000 $21,810,000 INSTALLMENT CONTRACTS: King County(Land) 10.00% 8/25/88 10/01/94 90,300 64,004 0 8,295 0 55,709 Holm(Property) 10.00% 11/20/90 05/01/95 159,291 109,291 0 25,000 0 84,291 ' Holm Property Mortgage 10.50% 11/20/90 02/01/95 80,708 74,570 0 3,337 0 71,233 Telephone Lease 8.00% 04/17/89 08/01/95 549,574 328,937 0 111,413 0 217,524 Printshop Copier 9.01% 10/01/90 09/01/94 38,367 18,488 0 10,208 0 8,280 Copier Lease 9.01% 10/01/90 09/01/94 13,095 6,310 0 3,484 0 2,826 Printing Press Lease 11,25% 03/10/91 02/10/96 17,394 12,112 0 3,372 0 8,740 Total Installment Contracts 948,729 613,712 0 165,109 0 448,603 TOTAL GENERAL OBLIGATION DEBT $45603,729 $22,318,712 $14,190,000 $1,700,109 $12,550,000 $22,258,603 REVENUE BONDS: , 1973 Airport 6.10% 04/01/73 04/01/93 $565,000 $50,000 $0 $50,000 so $0 1977 Water/Sewer Refunding 6.01% 12/01/77 07/01/99 3,045,000 1,860,000 0 225,000 0 1,635 000 1983 Water/Sewer 8.70% 05/01/83 05/01/99 1,500,000 95,000 0 95,000 0 0 1985 Water/Sewer 9.73% 04/01/85 04/01/05 2,600,000 320,000 0 100,000 0 220,000 1986 Water/Sewer 7.901/6 08/01/86 08/01/06 1,800,000 270,000 0 60,000 0 210,000 1987 Water/Sewer 7.55% 06/01/87 06/01/06 3,375 000 725,000 0 125,000 0 600,000 1988 Water/Sewer 7.56% 06/01/88 06/01/08 3,460,000 3,090,000 0 110,000 2,320,000 660,000 1989 Water/Sewer 6.85%-7.50% 05/01/89 05/01/09 1,715,000 1,590,000 0 50,000 1,165,000 375,000 1989 Water/Sewer Refunding 6.00%-7.10% 09/01/89 04/01/05 2,150,000 2,025,000 0 25,000 1,440,000 560,000 1990 Water/Sewer 5.90%-7.37% 11/01/90 10/01/10 4,100,000 3,885 000 0 115,000 2,715,000 1,055,000 1992 Water/Sewer 3.50%-6.50% 06/01/92 12/01/12 4,000,000 4,000,000 0 110'()000 3,890,000 1992 Water/Sewer Refunding 3.50%6.35% 06/01/92 12/01/06 4,635,000 4,635,000 0 55,000 0 4,580,000 , 1993 Water/Sewer 3.0-5.375% 08/01/93 04/01/13 5,285,000 0 5,285,000 0 0 5,285,000 1993 Water/Sewer Refunding 3.0-5.375% 01/08/93 04/01/10 8,860,000 0 8,860,000 180,000 0 8,680,000 TOTAL REVENUE BONDS $47,090,000 $22,545,000 $14,145000 $1,300,000 $7,640,000 $27,750,000 PUBLIC WORKS TRUST FUND LOANS: Northwest 7th Sewer Repair 5.00% 12/31/91 07/01/01 $84,779 $84,779 $0 $9,420 $0 $75,359 Sierra Hts Sewer Impry 3.00% 10/20/92 07/01/12 888,462 888,462 0 0 0 888,462 Central Renton Sewer Replacement 1.00% 06/14/93 07/01/13 96,519 0 96,519 0 0 96,519 East Renton Interceptor 2.00% 06/14/93 07/01/13 381,406 0 381,406 0 0 381,406 TOTAL PUBLIC WORKS TRUST FUND LOANS $1,451,166 $973,241 $477,925 $9,420 $0 $1,441,746 LID BONDS AND NOTES: 313 Street 6.25% 04/01/87 04/01/99 $12,239 $4,000 $0 $1,000 $0 $3,000 �. 314 Street/Utilities 9.0%-11.125% 09/01/89 09/01/01 6,789,084 1,945,000 0 280,000 0 1,665,000 326/331 Street 5.50%-7.70% 10/01/86 10/01/98 372,160 75,000 0 20,000 0 55,000 330 Street/Utilities 5.50%-7.30% 07/01/88 07/01/00 380,299 110,000 0 30,000 0 80,000 332 Street/Utilities 6.00°/-7.75% 10/15/88 10/15/05 3,450,183 2,250,000 0 240,000 0 2,010,000 ' 329 StreetfUtilitics 3.00%-5.50% 04/01/93 04/01/03 600,000 3,200,000 1,654,063 3,200,000 0 11654,063 TOTAL LID BONDS AND NOTES $11,603,965 $7,584,000 $1,654,063 $3,771,000 s0 $5,467,063 ARBITRAGE $341,183 $69,841 $411,024 , EMPLOYEE LEAVE BENEFITS $3,394,666 $207,551 $3,602,217 TOTAL OUTSTANDING DEBT $105,748,860 $57,156,802 $30,744,380 $6,780,529 $20,190,000 $60,930,653 10 ++� City of Renton Notes to The Financial Statements Table 28: Pro Rata Debt Waterwork Solid Waste Golf Equipment General Course Long Issue Utility utility Fund Rental Term Debt Total 1986 General Obligation Bond Payable-Long Term $96,360 $0 $486,180 $47,085 $677,875 $1,307,500 Payable-Current 44,000 0 222,000 21,500 287,500 Total 1986 General Obligation Bond $140,360 $0 $708,180 $68,585 $677,875 $1,595,000 1989 General Obligation Bond: Payable-Long Term $0 $0 $0 $228,155 $1,000,950 $1,229,105 Payable-Current 0 0 0 20,895 0 20,895 Total 1989 General Obligation Bond $0. $0 $0 $249,050 $1,000,950 $1,250,000 1992 General Obligation Bond: Payable-Long Term $0 $0 $0 $263,350 $970,200 $1,233,550 Payable-Current 0 0 0 26,450 0 26,450 Total 1992 General Obligation Bond $0 $0 $0 $289,800 $970,200 $1,260,000 1993 General Obligation Refunding Bond Payable-Long Term $421,520 $0 $2,126,760 $205,970 $2,086,750 $4,841,000 Payable-Current 10,560 0 53,280 5,160 0 69,000 Total 1993 General Obligation Ref $432,080 $0 $2,180,040 $211,130 $2,086,750 $4,910,000 Bonds 1993 General Obligation Bond (Flexline): Payable-Long Term $0 $260,000 $0 $0 $0 $260,000 Payable-Current 0 45,000 0 0 0 45,000 Total 1993 General Obligation Bond $0 $305,000 $0 $0 $0 $305,000 Other General Obligation Bond $0 $0 $0 $0 $12,490,000 $12,490,00 ., 0 Installment Contracts $0 $0 $0 $0 448,603 448,603 Total General Obligation Debt $572,440 $305,000 $2,888,220 $818,565 $17,674,378 $22,258603 s SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT As of December 31, 1993,a total of$5,467,063 of long-term special assessment debt was outstanding. 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, 1993, special assessments receivables totaled$5,110,162, which includes$91,695 of delinquent assessments. $642,546 in the guaranty fund represents 11.75%of special assessment debt outstanding. .r DEBT LIMIT CAPACITIES State law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable property 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 r vote of the people provided the indebtedness in excess of 2.5%is for parks and open space development. At December 31, 1993,the debt limits for the City were as follows: Table 29 Debt Limit Capacities With a Vote of the Peo le Item Without a Vote 2.5% 5% 7.5% Legal Limit $25,558,705 $85,195,682 $170,391,364 $255,587,046 .. OutstandingNet Indebtedness 11,711,244 16,909,513 16,909,513 20,982,921 Capacity Available $13,847,461 $68,286,169 $153,481,851 $234,604,125 REFUNDED DEBT The City has refunded twelve 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, 1993, and changes to r refunded bonds payable are on the following page: .rr r 31 City of Renton Notes to The Financial Statements Table 30 Refunded Bonds First Trust Item Washington Seafirst Key Bank Total ' Assets: Cash with Trustee $6,173 $30 $2,370 $8,573 Investments with Trustee 4,654,300 4,169,000 20,097,556 28,920,856 Estimated Interest Receivable 437,792 76,378 1,353,422 1,867,592 Total Assets $5,098,265 $4,245,408 $21,453,348 $30,797,021 Liabilities: Refunded Bonds Payable $4,970,000 $3,775,000 $18,635,000 $27,380,000 , Equity: Earnings with Trustee 128,265 470,408 2,818,348 3,417,021 Total Liabilities and E ui $5,098,265 $4,245,408 $21,453,348 $30,797,021 Table 31: Changes to Refunded Bonds Payable Item Balance 12/31/92 Increase Decrease Balance 12/31/93 Refunded Bonds Payable GO $5,460,000 $12,550,000 $6,535,000 $11,475,000 Refunded Bonds Payable LID 1,610,000 0 230,000 1,380,000 Refunded Bonds Payable 7,910,000 7,640,000 1,025,000 14,525,000 Revenue Total $14,980,000 $20,190,000 $7,790,000 $27,380,000 i Advance Refundine In 1993,the City issued$22,700,000 of refunding bonds with an average interest rate of 5.01%to advance refund$20,190,000 of outstanding bonds with an average interest rate of 7.93%. The net proceeds$22,360,081 after issuance costs were used to purchase U.S.government securities. Those securities , were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the old bonds. As a result,the old bonds are considered to be defeased and the liability for those bonds has been removed from their funds and general long term debt account group respectively., The summary below shows the reduction in the City's debt service payments by fund type. Table 32: Refunding Debt Service Analysis �. Refunded Issue Refunding Issue Cash Flow Economic Item Amount Rate Amount Rate Difference Gain(1) General Governmental Fund Type: 1983 Unlimited GO Refunding $4,385,000 9.81% $4,660,000 5.52% $734,867 $592,072 1989 Unlimited GO 3,775,000 7.02% 4,270,000 4.92% 302,950 222,858 1986 Limited GO 1,866,552 7.46% 2,086,750 4.53% 129,543 110,200 Proprietary Fund Type: 1986 Limited GO 2,523,448 7.46% 2,823,250 4.53% 175,265 149,095 1988, 1989, 1989 Refunding,and 1990 Water/Sewer Revenue Bonds 7,640,000 1 7.42% 1 8,860,000 1 5.08% 1 801,145 1 469,881 Total $20,190,000 $22,700,000 $2,143,770 $1,544,106 (1) Economic Gain(Loss)is the present value of the difference between the old and new debt service payments. The advance refunding also resulted in the recognition of an accounting loss of$1,456,489 in the proprietary funds. The accounting gain/loss is the i difference of the principal amount adjusted by any unamortized premiums or discounts. It does not consider time value of money nor the interest rate on the issues. 32 " City of Renton Notes to The Financia!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 33 Debt Service Re uirement to Maturity General Installment Revenue Public Works Special Total Obligation Bonds Contracts Bonds Trust Fund Loans Assessment Debt Long-Term Debt Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest 1993 $1,535,000 $1,576,711 $165,110 548,885 $1,300,000 $1,578,226 $9,420 $19,762 $3,771,000 $422,025 $6,780,527 $3,645,610 1994 1,905,000 1,102,176 173,304 34,347 1390,000 1,512,410 56,181 39,015 745,063 377,921 4,269,548 3,065,869 1995 1,885,000 1,016,615 238,003 10,632 1,470,000 1,431,848 81,335 37,141 726,000 324,776 4,400,338 2,821,012 1996 2,015,000 904,449 11,791 3,666 1,570,000 1,344,939 81,335 34,815 701,000 273,508 4,379,126 2,561,377 1997 2,145,000 790,415 12,145 2,551 1,660,000 1,252,344 81,335 32,489 670,000 224,041 4,568,480 2,301,840 1998 2,265,000 676,441 13,360 1,336 1,765,000 1,154,504 81,335 30,163 665,000 176,350 4,789,695 2,038,794 1999 2,315 000 553,958 0 0 1,870,000 1,052,185 81,335 27,837 665,000 129,034 4,931,335 1,763 014 2000 2,390,000 425,713 0 0 1,405,000 956,978 81,335 25,511 390,000 81,442 4,266,335 1,489,644 2001 1,880,000 311,948 0 0 1,500,000 875,336 81,335 23,185 390,000 56,126 3,851,335 1,266,595 2002 1,980,000 208,965 0 0 1,565,000 795,986 71,915 20,859 350,000 30,810 3,966,915 1056,620 �r 2003 365,000 142,713 0 0 1,665,000 711,001 71,915 19,003 165,000 8,486 2,266,915 881,203 2004 385,000 124,895 0 0 1,760,000 619,285 71,915 17,148 0 0 2,216,915 761,328 2005 410,000 105,610 0 0 1,850,000 520,578 71,915 15,293 0 0 2,331,915 641,481 2006 430,000 84,815 0 0 1,710,000 420,893 71,915 13,438 0 0 2,211,915 519,146 4! 2007 455,000 62,463 0 0 1285,000 336,741 71,915 11,583 0 0 1,811,915 410,787 2008 480,000 38,560 0 0 1,360,000 263,069 71,915 9,728 0 0 1,911,915 311,357 2009 505,000 13,130 0 0 1095,000 193,916 71,915 7,873 0 0 1,671,915 214,919 2010 0 0 0 0 995,000 134,484 71,915 6,018 0 0 1,066,915 140,502 °MV 2011 0 0 0 0 690,000 85,713 71,915 4,163 0 0 761,915 89,876 2012 0 0 0 0 730,000 43,838 71,915 2,307 0 0 801,915 46,145 2013 0 0 0 0 415,000 11,153 25,155 452 0 0 440,155 11,605 Totals 521,810,000 $6,562,866 $448,603 $52,532 $27,750,000 $13,717,201 $1,441,746 $378,021 $5,467,063 $1,682,491 $56,917,412 $22,393,114 i' AMOUNT AVAILABLE FOR DEBT SERVICE Fund balances that have been reserved for debt repayment are: $400,089 in the capital projects fund and$4,080,943 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$411,024. 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, 1993,there was a balance remaining of$160,000. s 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 34: Reservations of Fund Equity General Debt Capital Internal Trust Equity Reserved For: F I Service I Projects I Enterprise Service &A.ency Total Debt Service/Arbitrage $ 0 $ 4,080,943 $400,089 $ 2,201,018 $ 0 $ 0 $ 6,6$2,050 Advances/Other Funds 54,000 0 0 0 0 0 54,000 `r Insurance Deductible 0 0 0 0 0 0 0 Pension Obligation 0 0 0 0 0 7,076,000 7,076,000 Total $ 54,000 $ 4,080,943 $400,089 $ 2,201,018 $ 0 $ 7,076,000 $ 13,812,050 Table 35: Unreserved Designated Fund E uity Equity Designated For: General Fund Special Revenue Total Inmate Health&Welfare $ 20,075 S 0 $ 20,075 Investigative Fund Confiscations 394,894 0 394,894 .� Developmentally Disabled Program 0 4,269 4,269 Total $ 414,969 S 4,269 $ 419,238 .r 33 City of Renton Notes to The Financial Statements 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, 1993,is on the next page. Table 36: Segment Information for Enterprise Funds Waterworks Item Utility Airport Solid Waste Golf Course Total Total Operating Revenue $ 14,831,621 $ 612,163 $ 6,251,537 $ 804,197 $ 22,499,518 Operating Expenses: Operations&Maintenance $ 8,039,088 $ 201,266 $ 5,629,406 $ 525,879 $ 14,395,639 Administrative&General 1,262,446 82,429 0 0 1,344,875 Insurance 0 11,378 0 0 11,378 Taxes 1,176,613 0 840,833 3,722 2,021,168 Depreciation 1,858,777 231,793 55,466 52,295 2,198,331 Total Operating Expenses $ 12,336,924 $ 526,866 $ 6,525,705 $ 581,896 $ 19,971,391 Net Operating Income(Loss) $ 2,494,697 $ 85,297 $ (274,168) 222,301 $ 2,528,127 Non-Operating Revenue Net of Expenses (695,760) 49,474 161,927 (162,412) (646,771) Operating Transfers In Out 0 0 0 375,575 375,5755 Net Income(Loss)Before Extraordinary Item $ 1,798,937 $ 134,771 $ (112,241) $ 435,464 $ 2,256,931 Extraordinary Loss on Advance Refunding 1,195,745) 0 0 237,962) 1,433,707) Net Income(Loss) $ 603,192 $ 134,771 $ (112,241) $ 197,502 $ 823,224 Net Working Capital $ 2,842,599 $ 1,292,163 $ 773,488 $ 164,888 $ 5,073,138 Additions to Property,Plant and Equipment,Net of Disposals $ 5,625,815 $ 497,274 $ 371,642 $ 478,484 $ 6,973,215 Total Assets $ 110,129,91 $ 5,455,306 $ 1,595,469 $ 5,051,495 $ 122,232,189 9 Long Term Debt,Net of Current Portion &Bond Premium/Discount $ 27,919,687 $ 16,877.$ 254,550 $ 2,611,361 $ 30,802,475 Current Capital Contributions IS 5,065,726 $ 103,6591$ 0 $ 01$ 5,169,385 Total Fund Equity $ 79,893,750 1$ 5,347,217 1$ 799,580 $ 2,022,679 $ 88,063,226 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. 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 are presented below. Table 37: Risk Management ' Risk Retention Risk Sharin Type of Coverage Occurrence Claims Adm Aggregate Carrier Property $100,000 Giesy,Greer&Gunn $77,167,340 Affiliated FM Liability 250,000 Giesy,Greer&Gunn 9,500,000 Genesis Auto Liability 250,000 Giesy,Greer&Gunn 4,750,000 Genesis Boiler&Machinery 5,000 Giesy,Greer&Gunn 30,000,000 Kemper Public Official's 25,000 Giesy,Greer&Gunn 2,000,000 International ' Crime 5,000 Giesy,Greer&Gunn 1,000,000 Kemper Airport Liability 5,000 Giesy,Greer&Gunn 5,000,000 American Eagle Undergrd Storage Tank 10,000 Giesy,Greer&Gunn 1,000,000 Commerce&Industry Worker's Comp 200,000 Johnston&Culberson 2,000,000 Safety National Employee Health 90,000 HMA,Inc N/A Safeco ;-i City of Renton Notes to The Financial Statements 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, 1993,the City had accrued the following amounts for outstanding claims. Table 38: Outstanding Claims Incurred/ Incurred But Not Reported Total Claims Coverage Reported Payable Property&Liability $ 0 $ 1,100,803 $ 1,100,803 Worker's Compensation 0 25,396 25,396 Employee Health 0 132,927 132,927 Total $ 0 $ 1,259,126 $ 1,259,126 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. lnterfund 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 1992 and 1993. t Table 39: Changes in Claims Liabilities Property and Liability Worker's Compensation Employee Health Totals Item F 1993 1992 1993 1992 1993 1 1992 1993 1992 ]aims Liabilities at Beginning of Year $ 575,743 $ 210,443 $ 41,439 $ 54,080 $ 125,057 $ 195,691 $ 742,239 $ 460,214 ]aims Expenses: Current Year and Changes in Estimates 1,496,315 1,123,759 134,664 170,387 2,552,285 2,355,943 4,183,264 3,650,089 Claims Payments (971,255) (758,459) (150,707) (183,028) (2,544,415) (2,426,577) (3,666,377) (3,368,064 ]aims Liabilities at End of the Year $ 1,100,803 $ 575,743 $ 25,396 $ 41,439 $ 132,927 $ 125,057 $ 1,259,126 $ 742,239 NOTE 18-PRIOR PERIOD ADJUSTMENTS Washington State Sales Tax Adjustment of$86,648 from previous years. The amount of credit from the State for the General Fund was$26,648 and $60,000 for the Parks Fund. a NOTE 19-SUBSEQUENT EVENTS Senior Housing Fund Transaction: „r Pursuant to the terms of the 1989 Housing Cooperation Agreement and bond covenants,on January 20, 1994, the city quit claimed to the City of Renton Housing Authority the real estate, including improvements, which the city acquired with the proceeds of the 1989 $5.5 million Unlimited General Obligation Bonds and$1.7 million in other revenue. At December 31, 1993, the City's General Fixed Assets Account Group do not include the costs of this real estate, commonly referred to as the Senior Housing Construction Project. City officials signed the quit claim deed on December 16, 1993. r Total cost of the project at December 31, 1993 is$7.0 million. The unmatured portion of the general obligation debt remains on the City's books at December 31, 1993 which consists of $1.26 million of 1989 Unlimited General Obligation Bonds and $4.27 million of 1993 General Obligation Refunding Bonds. a .W r r r Mr rr 35 City of Renton 1993 CAFR ab s aew r 1 36 City of Renton 1993 CAFR M 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. r i r r 37 City of Renton 1993 CAFR GENERAL FUND Page 1 of 1 COMPARATIVE BALANCE SHEET DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 r 1993 1992 ASSETS: Cash and Cash Equivalents ........................ $ 2,841,380 $ 2,436,903 Receivables: Taxes .......................................... 506,606 330,266 Accounts ....................................... 1,927,039 1,627,389 Due From Other Funds ............................. 2,196 12,114 t Due From Other Governmental Units ................ 20,448 55,586 Prepaid Items . .................................. 8,000 0 Interfund Loans/Advances Non-Current ........... 54,000 54,000 TOTAL ASSETS .. .... .. LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers/Contracts Payable ..................... $ 423,463 $ 255,177 Due To Other Funds ............................. 162,909 178,026 ' Due To Other Governmental Units ................ 787,108 736,361 Accrued Taxes Payable .......................... 1,112 917 Deposits Payable ............................... 54,255 68,805 Deferred Revenues ............... .... ..... 1,541,784 1,169,908 , Accrued Employee Leave Benefits ................ 148,168 128,993 TOTAL LIABILITIES .................................. '$ 3,118;799 $ 2,538,187 FUND EQUITY: Fund Balance: , Reserved For Advances To Other Funds ......... $ 54,000 $ 54,000 Unreserved - Designated: For Inmate Health & welfare ................ 20,075 15,195 For Investigative Fund Confiscations ....... 394,894 278,404 Unreserved - Undesignated ..... .... .. 1,771,901 1,630,472 TOTAL FUND EQUITY, ............ .... ...., ..._,.. $ 2,240,870 $ 1,978,071' TOTAL LIABILITIES AND FUND EQUITY .................. $ —5,359,669 $ 4,516,258' r 38 City oJRenton 1993 CAFR GENERAL FUND Page 1 of 1 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 1993 1992 REVENUES w Taxes .............................................. $ 18,400,707 $ 17,532,540 Licenses And Permits ............................... 1,099,509 1,234,753 Intergovernmental Revenues ......................... 3,064,613 1,575,912 Charges For Services ............................... 757,609 1,001,891 Fines And Forfeits ................................. 864,229 867,386 Interest ........................................... 307,172 336,838 Miscellaneous Revenues ............................. 139,714 191,041 TOTAL' REVENUES ....................................... $ 24;633,553 $ 22,740,361 ' w. EXPENDITURES Current: General Government ............................... $ 3,962,433 $ 4,209,899 .. Security Of Persons And Property ................. 15,654,019 13,551,649 Physical Environment ............................. 1,163,369 1,157,112 Economic Environment ............................. 2,528,440 2,444,899 Mental And Physical Health ....................... 8,983 10,992 Capital Outlay ..................................... 360,148 318,926 Debt Service: Principal Retirement ............................. 43,802 43,802 Interest & Fiscal Charges 23,633 27,713 TOTAL>EXPENDI'TURES ........s $ 23.;744,82T::' ::; 21,764,99Z> EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 888,726 $ 975,369 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 $ 694 Operating Transfers In 11,000 55,956 Operating Transfers (Out) .......................... (375,575) (672,125) Other Financing (Uses) ............................. (300,000) 0 Sale Of General Fixed Assets 12,000 (589) TOTAL OTHER FINANCING SOURCES (USES) ...............,.I $ (652,575) $ (616,064) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ 236,151 $ 359,305 FUND BALANCE JANUARY 1 ............................... 1,978,071 1,618,766 Prior Period Corrections ........................... 26,648 0 FUND BALANCE>DECEMBER',31 ... ....................... $ 2,240,870 $ 1,978,071 'I 39 City of Renton 1993 CAFR GENERAL FUND Page 1 of 1 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 GENERAL VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 18,031,281 $ 18,400,707 $ 369,426 $ 17,532,540 Licenses And Permits ............................... 1,005,000 1,099,509 94,509 1,234,753 Intergovernmental Revenues ......................... 2,919,253 3,064,613 145,360 1,575,912 Charges For Services ............................... 839,840 757,609 (82,231) 1,001,891 Fines And Forfeits ................................. 751,600 864,229 112,629 867,386 Interest ........................................... 300,000 307,172 7,172 336,838 Miscellaneous Revenues 83,057 1399714 56,657 191,041 TOTAL REVENUES ...':......:...... ......:......:...... $ 23,930,03:1 $ .'24,633;553 703,522 S ::Z274Q,361; EXPENDITURES Current: General Government ............................... $ 4,069,631 $ 3,962,433 $ 107,198 $ 4,209,899 Security Of Persons And Property ................. 16,292,934 15,654,019 638,915 13,551,649 Physical Environment ............................. 1,301,462 1,163,369 138,093 1,157,112 Economic Environment ............................. 2,950,518 2,528,440 422,078 2,444,899 Mental And Physical Health ....................... 9,470 8,983 487 10,992 Capital Outlay ..................................... 366,076 360,148 5,928 318,926 Debt Service: Principal Retirement ............................. 43,802 43,802 0 43,802 Interest & Fiscal Charges ........................ 23,633 23,633 0 27,713 TOTAL EXPENDITURES .................... 23,744,827 $ 1312,699 $ 21:764 992. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (1,127,495) $ 888,726 $ 2,016,221 $ 975,369 ~ OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 694 Operating Transfers In ............................. 11,000 11,000 0 55,956 Operating Transfers (Out) .......................... (366,394) (375,575) (9,181) (672,125) Other Financing Sources ............................ (300,000) (300,000) 0 0 Sale Of General Fixed Assets ....................... 0 12,000 12,000 (589) TOTAL OTHER'`FINANCING !SOURCES ;(USES};,.,;; R,.,: 064:3 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (1,782,889) $ 236,151 $ 2,019,040 $ 359,305 FUND BALANCE JANUARY 1 ............................... 2,105 095 1,978,071 (127,024) 1,618 766 Prior Period Corrections 0 26,648 26,648 0 FUND I;BALANCE'»DECEMBER 31 $ 322`206 $ 2,240,870 $ <1,918,664 «$ 1,978,071 40 City of Renton 1993 CAFR SPECIAL REVENUE FUNDS low 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 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 112 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 r 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 City's 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 i 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 r r i 41 City of Renton 1993 CAFR SPECIAL REVENUE FUNDS Page 1 of 2 COMBINING BALANCE SHEET DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 PARK ARTERIAL STREET COMM DEVELOP r STREET BLOCK GRANTS ASSETS: Cash and Cash Equivalents ........................ $ 569,402 $ 79,660 $ 160,477 $ 26,479 Investments ...................................... 300,000 0 800,000 0 .r Receivables: Accounts ....................................... 0 0 3,894 0 Interest on Investments 1,480 0 10,641 0 Due From Other Funds ............................. 545 0 42,214 28 Due From Other Governmental Units 0 0 0 39,793 TOTAL ASSETS_ $' 871,427 $ 79,660 $ 1,017,226 $ 66,300 LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers/Contracts Payable ..................... $ 165,038 $ 0 $ 60,583 $ 14,600 Due To Other Funds ............................. 662 0 0 1,700 ' Due To Other Governmental Units ................ 0 0 0 0 Accrued Taxes Payable .......................... 2,995 0 0 0 Deposits Payable ............................... 20,200 0 0 0 Deferred Revenues .............................. 0 0 0 0 Accrued Employee Leave Benefits ................ 47,110 0 19,553 0 Interfund Loans/Advances - Non-Current 0 0 0 50,000 TOTALaILIABILITIES .................................. $ 236,005:: 66,300r> FUND EQUITY: ' Fund Balance: Unreserved - Designated: Developmentally Disabled Program ........... $ 4,269 $ 0 $ 0 0 Unreserved - Undesignated 631,153 79,660 937,090 0 TOTAL FUND EQUITY ... .... ...... $ 635,422 $ 79,660 $ 937,090 $ 0 TOTAL. LIABILITIES AND FUND EQUITY .................. $ 871,427 $ 79,660 $ 1;017,226 $ 66,300''' 42 , City of Renton 1993 CAFR x Page 2 of 2 CABLE IMPACT LIBRARY PATHS ONE PERCENT COMMUNICATIONS MITIGATION & TRAILS FOR ART DEVELOPMENT 1993 1992 $ 45,745 $ 280,054 $ 18,891 $ 39,033 $ 49,417 $ 1,269,158 $ 1,477,370 5,659,539 75,000 0 0 125,000 6,959,539 4,794,899 546 0 0 0 0 4,440 6,710 140,369 400 0 0 8,701 161,591 86,980 233,693 0 0 0 0 276,480 39,134 0 0 0 0 0 39,793 94,818 $6,079,892 $ 355i',454 $ 18,891 S 39,033 'I $ 183,118 $ 8,711,001 $ 6,499,911<I $ 0 $ 13,785 S 0 $ 0 $ 0 $ 254,006 $ 275,260 84 0 0 0 0 2,446 0 0 0 0 0 0 0 1,040 0 0 0 0 0 2,995 1,358 0 0 0 0 0 20,200 15,245 0 0 0 0 0 0 859 0 5,020 0 0 0 71,683 62,308 0 0 0 0 0 50,000 50,000 $, 84 $ 18,805 $ 0 $ 0 $ 0 $ 401,330 $ 406,070 $ 0 S 0 $ 0 $ 0 $ 0 S 4,269 $ 5,380 6,079,808 336,649 18,891 39,033 183,118 8,305,402 6,088,461 $6,079,80$..::...x..336 444. $```:`.<` 41 $ 39,033 $ 183;118 $ 8,309,671 $ 6,093,84E< $6`,079,892:: $355,454 ::$ 8;891 $ 39,033 $ 183,118 $ 8,711,001 $ 6,499,91..T.:. 43 City of Renton 1993 CAFR , SPECIAL REVENUE FUNDS Page 1 of 2 , COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 ' PARK ARTERIAL STREET COMM DEVELOP STREET BLOCK GRANTS ' REVENUES Taxes .............................................. $ 4,894,914 $ 0 $ 2,851,129 $ 0 , Licenses And Permits ............................... 0 0 46,458 0 Intergovernmental Revenues ......................... 0 310,514 680,620 238,865 Charges For Services ............................... 600,536 0 65,410 0 , Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 21,276 2,475 27,518 0 Miscellaneous Revenues 378,943 0 1,747 0 TOTAL REVENUES ....................................... $ 5,8.9.5"669 $ 312.;989 $ 3,.672,882 >« 23$,865;.; EXPENDITURES Current: General Government .......................... $ 1,295,576 $ 0 $ 0 $ 0 Transportation ........................... 135,513 0 2,793,958 0 ' Economic Environment ............................. 484,105 0 0 142,619 Culture and Recreation ........................... 3,625,996 0 0 0 Capital Outlay .. .. .. 33,090 0 57,370 96,246_ TOTAL'EXPENDI'TURES ...........:............:....... .... $ 5,574y280 $: 0 $ 2,$51,328 $ 238,.865:;: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .............. $ 321,389 $ 312,989 $ 821,554 $ 0 OTHER FINANCING SOURCES (USES) , Interfund Loan Repayments .......................... $ 0 $ 0 $ (400,000) $ 0 Operating Transfers In ............................. 0 0 0 0 operating Transfers (out) ....................... (60,000) (279,500) 0 0 TOTALOTHER 'FINANCING' SOURCES>'(USES) $ (60,000) $ (279,500) $ EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ 261,389 $ 33,489 $ 421,554 $ 0 FUND BALANCE JANUARY 1 ............................... 314,033 46,171 520,297 0 Residual Equity Transfers Out ...................... 0 0 (4,761) 0 ' Prior Period Corrections ........................... 60,000 0 0 0 FUND''BALANCE`DECEMBER 31 .. >L .....s.............': $ sb35,42Z $ 79,660::;:.f,. 937,090 $ 0 44 City of Renton 1993 CAFR Page 2 of 2 ONE CABLE TOTALS IMPACT LIBRARY PATHS PERCENT COMMUNICATIONS MITIGATION & TRAILS FOR ART DEVELOPMENT 1993 1992 $ 1,468,868 $ 996,907 $ 0 $ 0 $ 0 $10,211,818 $ 12,846,617 0 0 0 0 0 46,458 24,050 0 0 3,320 0 0 1,233,319 1,316,770 0 13,514 0 0 0 679,460 608,904 0 16,787 0 0 0 16,787 17,306 258,585 11,576 367 1,216 12,019 335,032 251,715 0 2,308 0 0 0 382,998 423,557 $ 1,727,453'" $ 11041,1192 $ 3,687 $ 1,216> $ 1,2 Q19 . :512,A05 872 S 15,488,91:Wi.i $ 0 $ 0 $ 0 $ 0 $ 0 $ 1,295,576 $ 1,397,940 8,506 0 0 0 0 2,937,977 3,074,076 0 0 0 0 0 626,724 596,874 0 977,056 0 0 0 4,603,052 4,291,090 832 0 0 0 1,726 189,264 4,544,283 $ 9,33&; :S 977,056 $ 0 $ 0' $ 11726 $ 9,d5 ;593 13;9U4,Z63 ; $ 1,718,115 $ 64,036 $ 3,687 $ 1,216 $ 10,293 $ 3,253,279 $ 1,584,656 $ 0 $ 0 $ 0 $ 0 $ 0 $ (400,000) $ 0 0 0 0 0 0 0 741,238 (232,688) 0 0 0 (120,500) (692,688) (4829575) $ (232,688) $ 0 $ 0 $ 0 $ (120,500) $(1,092,688) S 258,60;: $ 1,485,427 $ 64,036 $ 3,687 $ 1,216 $ (110,207) $ 2,160,591 $ 1,843,319 4,594,381 272,613 15,204 37,817 293,325 6,093,841 4,250,522 0 0 0 0 0 (4,761) 0 0 0 0 0 0 60,000 0 $ 6,079,808 $ 336,649' $ 18,891 $ , 39,033 $ 183,118 $' 8,309,671 $' 6,093,841 45 City o1 Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 PARK r VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL , REVENUES Taxes .............................................. $ 4,913,000 $ 4,894,914 $ (18,086) $ 4,643,733 Licenses And Permits ............................... 0 0 0 0 IntergoverrvnentaL Revenues ......................... 0 0 0 0 Charges For Services ............................... 511,755 600,536 88,781 537,830 ' Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 6,000 21,276 15,276 5,822 Miscellaneous Revenues ............................. 394,788 378,943 (15,845) 415,549 TOTAL REVENUES .......... ..I . $ >'S,825,:5.43" $ 70,1Zfr < 3 5,602{934;:; $. 5:895,669" EXPENDITURES Current: General Government ............................... $ 1,470,508 $ 1,295,576 $ 174,932 $ 1,397,940 , Transportation ................................... 143,514 135,513 8,001 137,948 Economic Environment ............................. 464,901 484,105 (19,204) 448,178 Culture and Recreation ........................... 3,921,905 3,625,996 295,909 3,521,022 Capital Outlay 38,305 33,090 5,215 15,035 TOTAL EXPENDITURES ...................< ...... ........'. $ >6,039,133 $ 5,574.;280 $ 464,853 20123 EXCESS (DEFICIENCY) OF REVENUES , OVER EXPENDITURES .................................... $ (213,590) $ 321,389 $ 534,979 $ 82,811 OTHER FINANCING SOURCES (USES) ' Interfund Loan Repayments .......................... $ 0 $ 0 $ 0 $ 0 Operating Transfers In ............................. 0 0 0 0 Operating Transfers (Out) ... 0 (60,000) (60,000) (16,600) , TOTAL OTHER FINANCING5QIIRCES (USES) $ 0 $ C6Q. QQO) $ EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (213,590) $ 261,389 $ 474,979 $ 66,211 , FUND BALANCE JANUARY 1 ............................... 342,758 314,033 (28,725) 247,822 Residual Equity Transfers (Out) .................... 0 0 0 0 , Prior Period Corrections 0 60,000 60,000 0 FUND $AEANCE`DECEMBER 31 $ 129,168 $ 635,422 $ 506,254 46 City of Renton 1993 CAFR Page 2 of 7 ARTERIAL,STREET STREET .. VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 0 $ 0 $ 0 $ 0 $ 2,594,000 $ 2,851,129 $ 257,129 $ 1,923,301 0 0 0 0 14,000 46,458 32,458 24,050 373,769 310,514 (63,255) 378,406 723,380 680,620 (42,760) 716,766 0 0 0 0 65,811 65,410 (401) 56,425 0 0 0 0 0 0 0 0 2,000 2,475 475 1,913 10,000 27,518 17,518 18,390 0 0 0 0 0 1,747 1,747 6,374 $ 375;?69 S 312,989 S: X62;;780}.- 380 319 S 3,407;747 5 3,672r88� : .:S 265,691 $. 2:74530&. r $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 49,770 0 49,770 43,961 3,396,942 2,793,958 602,984 2,842,568 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30,900 57,370 (26,470) 33,805 $ 49,770 $ 0 $ 49,770 $ 43,961 S 3,427842 $ 2,85.1:;328 $ 576,514 <I $ 2;876,373: $ 325,999 $ 312,989 $ (13,010) $ 336,358 $ (20,651) $ 821,554 $ 842,205 $ (131,067) $ 0 $ 0 $ 0 $ 0 $ (400,000) $ (400,000) $ 0 $ 0 0 0 0 0 0 0 0 0 (330,000) (279,500) 50,500 (340,000) 0 0 0 0 $ (330,000) $ (279,500) S 50,500 $ (340,000) Si (4QQ:OOQ . :;5. . (400,000)`:5 0 $ D '' $ (4,001) $ 33,489 $ 37,490 $ (3,642) $ (420,651) $ 421,554 $ 842,205 $ (131,067) 38,778 46,171 7,393 49,813 510,188 520,297 10,109 651,364 0 0 0 0 0 (4,761) (4,761) 0 0 0 0 0 0 0 0 0 $ 34,777 S 79,660 $ 44,,883 <S 46,;171 S: $9;537 $ 937,090 >S 847 553 S . .520,247: 47 City of Renton 1993 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, 1993, uith.Comparative Actual Totals for Year Ended December 31, 1992 COMM DEVELOPMEKT.:BLOCI(:'GRAHTS ' VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 S 0 S 0 S 0 , Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 531,810 238,865 (292,945) 218,021 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 ',.. ........:;....-...... .. ........ : ... 218,OZ1;; EXPENDITURES Current: General Government ............................... $ 0 $ 0 $ 0 S 0 ' Transportation ................................... 0 0 0 0 Economic Environment ............................. 168,151 142,619 25,532 148,696 Culture and Recreation ........................... 0 0 0 0 Capital Outlay ..................................... 290,065 96,246 193,819 69,325 TOTAL. EXPENDITURES .....:....._ $ 458,216 $ 238,865 S 219,351 S 218,02,1 ' EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 73,594 $ 0 $ (73,594) $ 0 OTHER FINANCING SOURCES (USES) ' Interfund Loan Repayments .......................... S 0 $ 0 $ 0 S 0 Operating Transfers In ............................. 0 0 0 0 Operating Transfers (out) .. ...... .. ... 0 0 0 0 , TOTAL 'OTHER FINANCING SOURCES;LUSES) $ 0 $ 0 $ 0 S 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ 73,594 $ 0 $ (73,594) $ 0 , FUND BALANCE JANUARY 1 ............................... (49,819) 0 49,819 0 Residual Equity Transfers (Out) ............ 0 0 0 0 Prior Period Corrections ................... 0 0 0 0 ,775 $3FUND BALANCEDECEMBER 31 23 S 48 r City of Renton 1993 CAFR 10 Page 4 of 7 IMPACT.M.I7IGATTON .... ......:. RY _... rr VARIANCE - VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 0 $ 1,468,868 $ 1,468,868 $ 5,394,583 S 950,000 $ 996,907 $ 46,907 S 885,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13,100 13,514 414 14,649 0 0 0 0 14,200 16,787 2,587 17,306 100,000 258,585 158,585 191,482 5,000 11,576 6,576 13,965 0 0 0 0 1,000 2,308 1,308 1,634 $ 100,000 $ '1,727,453 $ > 11627,453 S 5,586 065 ; ,S 983;3A0 ,;;51,041,092' $' 57,792 $ 932,554 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 2,467,910 8,506 2,459,404 49,599 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,008,644 977,056 31,588 770,068 1,891,458 832 1,890 626 4,264,144 0 0 0 159,810 $ 4,35.:9,368 S ...... : 9;338(: 3...;4,350.;030 .,;; .:4',313,743....;.5,1,008,644 1:.....977,D56 . S 31,588 .::3: 929,878;; $ (4,259,368) S 1,718,115 $ 5,977,483 $ 1,272,322 S (25,344) $ 64,036 S 89,380 S 2,676 $ 0 $ 0 $ 0 $ 0 0 $ 0 $ 0 $ 0 0 0 0 741,238 $ 0 0 0 0 (232,688) (232,688) (58,088) 0 0 0 0 $ 0 $ (232,688) S (232,688) $ 683,150 $ 0 S 0 . $ (4,259,368) $ 1,485,427 S 5,744,795 $ 1,955,472 $ (25,344) $ 64,036 $ 89,380 S 2,676 4,513,862 4,594,381 80,519 2,638,909 276,239 272,613 (3,626) 269,937 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 254,494 $ 6,;079,.808 $ '''5,825;314 S 4,594',381 S. 250;895 S .336:,649 $ 85,754 $ 272,613 49 City of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 ;PATHS:XNO TRAILS: ;:::...; VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES ' Taxes .............................................. $ 0 $ 0 S 0 $ 0 Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 3,500 3,320 (180) 3,577 Charges For Services ............................... 0 0 0 0 , Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 350 367 17 436 Miscellaneous Revenues 0 0 0 0 TOTAL REVENUES $ 3;850 $ 3687 $ 0163): $. 4OI3; EXPENDITURES Current: General Government ............................... $ 0 S 0 S 0 S 0 Transportation ................................... 0 0 0 0 Economic Environment ............................. 0 0 0 0 Culture and Recreation ........................... 0 0 0 0 Capital Outlay 0 0 0 0 TOTAL EXPENDITURES .... --= •-- -.....r. $ ; 0 $ 0 s. ... .... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 3,850 $ 3,687 $ (163) S 4,013 OTHER FINANCING SOURCES (USES) , Interfund Loan Repayments .......................... $ 0 S 0 $ 0 S 0 Operating Transfers In ..... ... .. 0 0 0 0 , Operating Transfers (Out) .... .... .. 0 0 0 0 TOTAL OTHER FINANCING'SOURCES''(USES) $ 0 $ 0 $ 0 $ 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ 3,850 $ 3,687 $ (163) S 4,013 FUND BALANCE JANUARY 1 ............................... 15,204 15,204 0 11,191 Residual Equity Transfers (Out) 0 0 0 0 M Prior Period Corrections 0 0 0 0 FUNO;.BA ANCE'DECEMBER 31 ...... ...... ...... ........ $ 19,054 $;f 1,8;891 S (163)::: 3 15,204'' 50 r Crry of Renton 1993 CAFR ow Page 6 of 7 r L .......................... .PABE::C( MUNLCTION.ONE: ; :CERCEJtFOR ART .. .:; A VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL S 0 S 0 $ 0 $ 0 S 850 S 0 S (850) $ 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 0 1,500 1,216 (284) 1,526 10,000 12,019 2,019 18,181 0 0 0 0 0 0 0 0 $ 1,500 S 1,216 $ )(284) $ 1,526 $ 10,850 $ 12,019 $ 1,169 $ 18,181: $ 0 $ 0 S 0 S 0 S 0 $ 0 S 0 S 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 39,157 0 39,157 2,164 2,000 1,726 274 0 0 000` 5.:.::::::::::::>:::> S 39'157 S 64°:::>::: ::»».2 :::>:::::`':#;726......:?:::::::::;::::>:' ;':274 ..... . ..................0.. S (37,657) S 1,216 S 38,873 S (638) S 8,850 S 10,293 S 1,443 S 18,181 L S 0 $ 0 S 0 $ 0 $ 0 $ 0 S 0 $ 0 0 r 0 0 0 0 0 0 0 0 0 0 0 (120,500) (120,500) 0 (67,887) 0 S 0 $(120,500) S (120,500) 'S 0 S (67,887) $ (37,657) $ 1,216 $ 38,873 $ (638) $(111,650) $ (110,207) $ 1,443 $ (49,706) a 37,817 37,817 0 38,455 286,924 293,325 6,401 343,031 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 S 160 "'S 39,033 S 38,873 S 37,817 :$.:::::1750274 $ 183:,118 S 7,844 .; S 291325' L L 51 City of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 TOTALS VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 8,457,850 $ 10,211,818 $ 1,753,968 $12,846,617 Licenses And Permits ............................... 14,000 46,458 32,458 24,050 Intergovernmental Revenues ......................... 1,632,459 1,233,319 (399,140) 1,316,770 Charges For Services ............................... 590,666 679,460 88,794 608,904 Fines And Forfeits ................................. 14,200 16,787 2,587 17,306 Interest ........................................... 134,850 335,032 200,182 251,715 Miscellaneous Revenues ............................. 395,788 382,998 (12,790) 423,557 7� 9052 166 (593548$ 4I9TOTALREVENUES . : : .. 2 EXPENDITURES Current: General Government ............................... $ 1,470,508 $ 1,295,576 $ 174,932 $ 1,397,940 Transportation ................................... 6,058,136 2,937,977 3,120,159 3,074,076 ' Economic Environment ............................. 633,052 626,724 6,328 596,874 Culture and Recreation ........................... 4,930,549 4,603,052 327,497 4,291,090 Capital Outlay ........ 2,291,885 189,264 2,102,621 4,544,283 1 TOTAL EXPENOTTURES' ................................... $ ',15,384,130 $ 9,652,593 $ 5;731,537 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (4,144,317) $ 3,253,279 $ 7,397,596 $ 1,584,656 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... $ (400,000) $ (400,000) $ 0 $ 0 Operating Transfers In ............................. 0 0 0 741,238 Operating Transfers (Out) .... ...... .. ... (450,500) (692,688) (242,188) (482,575) TOTAL OTHER FINANCtkG SOURCES (USES) $ (850,500) (242,188)> EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (4,994,817) $ 2,160,591 $ 7,155,408 $ 1,843,319 , FUND BALANCE JANUARY 1 ............................... 5,971,951 6,093,841 121,890 4,250,522 Residual Equity Transfers (Out) 0 (4,761) (4,761) 0 Prior Period Corrections .. 0 60,000 60,000 0 FUNO.BALANCE DECEMBER 311 .............. 9k 977,;734 $`` 8,309.,671 ;; t 7,332,537 i i 1 1 52 s Ciry,of Renton 1993 CAFR r DEBT SERVICE FUNDS Debt Service Funds account for the accumulation of resources for, and the payment of principal and interest for the City's 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 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 against benefited properties. The outstanding amount is recorded in the General Long Term Debt Account Group. ow 1978 LIMITED GENERAL OBLIGATION BOND REDEMPTION FUND -Accounts for debt service on a Council-approved bond issue, which provided partial funding for construction of the Renton Senior Citizens' r Center. 1989 LIMITED GENERAL OBLIGATION REFUNDING BOND REDEMPTION FUND - Accounts for debt service on a Council- approved 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 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. „W 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! 53 ap City of Renton 1993 CAFR Page 1 of 2 DEBT SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 1989 LIMITED 1983 UNLIMITED 40 1978 LIMITED GO REFUNDING GO REFUNDING GO BONDS BONDS BONDS ASSETS: Cash and Cash Equivalents ........................ $ 64,611 $ 64,474 $ 586,592 r Cash With Fiscal Agent 412 0 207,510 ........................... 0 0 0 Investments ........................... Receivables: 38,232 Taxes ................................ 0 0 Special Assessments Current .................. Special Assessments Delinquent 0 0 0 0 0 0 Special Assessments Deferred ................. , Interest - Special Assessments ................. 0 0 0 Interest on Investments .. 0 0 0 0 0 7,611 Due From Other Funds ............................. TOTAL ASSETS .. $ 65,023 $ 64,474 $ 839,945 ' LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers/Contracts Payable ..................... $ 0 $ 0 $ 0 Matured Bonds Payable .......................... 0 0 0 Matured Interest Payable ....................... 412 0 207,510 Deferred Revenues .............................. 0 0 38,232 TOTAL>LIABILTTIES $ 412 $ 0 $ 245,742 .. FUND EQUITY: Fund Balance: Reserved For Debt Service .................... $ 64,611 $ 64,474 $ 594,203 TOTAL FUND EQUITY .. $ 64,611 S 64,474 $ 594,203 TOTALLIABILITIES AND FUND EQUITY $ 65,023 S 64,474 $ 839,945 r ,.f 54 City of Renton 1993 CAFR Page 2 of 2 GENERAL GOVERNMENT SPECIAL SPECIAL 76.T..ALS .. MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT DEBT GO BONDS DEBT GUARANTY 1993 1992 $ 226,654 $ 331,731 $ 369,548 $ 143,009 S 1,786,619 $ 1,581,895 0 0 40,000 0 247,922 66,280 0 0 1,580,379 480,000 2,060,379 2,205,000 0 27,436 0 0 65,668 43,902 0 0 1,055 0 1,055 606 0 0 91,695 0 91,695 87,984 0 0 5,017,412 0 5,017,412 3,787,952 0 0 67,102 0 67,102 10,615 0 0 40,410 19,537 59,947 45,714 3,187 4,968 0 0 15,766 20,668 S 229,841 $ 364,135 $ 9,413;56 $ 1,620 $ 0 $ 0 $ 0 $ 1,620 S 0 0 0 40,000 0 40,000 55,000 0 0 0 0 207,922 11,280 0 27,436 5,017,412 0 5,083,080 3,831,854 $ 1,620 $ 27`436 lr....3. 848,134 $ 228,221 $ 336,699 $ 2,150,189 $ 642,546 $ 4,080,943 $ 3,952,482 $ 228,221 $ 336,699 $ 2,150,189 $ 642,546 $ 4,080,943'' $ 3,952,482._ $ 229,841 $ 364,135 $ 7,207,601 s $ 642,546 $ 9,4,13,565 $ 7,850,616 55 City of Renton 1993 CAFR DEBT SERVICE FUNDS Page 1 of 2 ' COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 1989 LIMITED 1983 UNLIMITED 1978 LIMITED GO REFUNDING GO REFUNDING GO BONDS BONDS BONDS ' REVENUES Taxes .............................................. $ 76,636 $ 297,138 $ 826,049 , Special Assessments ................................ 0 0 0 Interest 1,047 1,980 9,087 TOTAL REVENUE::. .....- --••- .._.... .. $ TI 683 a 249,138::: ">:;5 .835,{36:: EXPENDITURES Debt Service: ' Principal Retirement ............................. $ 55,000 $ 145,000 $ 370,000 Interest 8 Fiscal Charges ........................ 19,502 143,449 337,105 TOTAL.EXPENDITURES ';. ..... ....... ...... ...... ... $!' 74,502 $ >' 288,449 $ 707,105 ' EXCESS (DEFICIENCY) OF REVENUES , OVER EXPENDITURES .................................... $ 3,181 $ 10,669 $ 128,031 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 4,660,000 Operating Transfers (Out) .......................... 0 0 0 Funds Remitted to Bond Trustee ..................... 0 0 (4,582,777) FUND BALANCE JANUARY 1 ............................... 61,430 53,805 388,949 Residual Equity Transfers In ............. 0 0 0 , Residual Equity Transfers Out ............ 0 0 0 FUND BALANCE DECEMBER 31 . $i! 64,611 $ b4,474 g.;i 594,203'' 56 City of Renton 1993 CAFR Page 2 of 2 GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT DEBT GO BONDS DEBT GUARANTY 1993 1992 $ 852,102 S 539,715 $ 0 $ 0 S 2,591,640 $ 2,489,973 0 0 888,498 0 888,498 1,739,087 4 720 3,289 144,769 31 530 196,422 742,241 S 543,004 " 3 I,033j,267 676,560 :: :: *971,301 $ 541,160 $ 165,000 $ 571,000 S 0 S 1,847,160 $ 2,106,341 362,892 441,267 335,428 0 1,639,643 1,769,750 S 904,052 S 606,267 $I' 906,428 S 0 S 3,486,803.;. ;:876,0911 $ (47,230) $ (63,263) $ 126,839 S 31,530 $ 189,757 $ 1,095,210 $ 2,086,750 S 4,270,000 $ 0 S 0 $ 11,016,750 $ 0 0 0 0 (303,342) (303,342) 0 (2,047,603) (4,169,030) 0 0 (10,799,410) 0 236,304 298,992 2,130,006 782,996 3,952,482 2,857,272 0 0 24,706 131,362 156,068 0 0 0 (13t 362) 0 (131,362) 0 $ 228; 21 S 336;644 $I 2,150;184 S 642,546. 57 City oJRenton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 . ... .. f;.,::: .:..: :: ....:1 .. . VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 76,635 $ 76,636 $ 1 $ 79,445 Special Assessments ................................ 0 0 0 0 Interest 500 1,047 547 751 TOTAL RI 1I NllES ... ....................... $ 77,135 3 77,6$3 $ 548 .> $ EXPENDITURES Debt Service: Principal Retirement $ 55,000 S 55,000 $ 0 $ 55,000 Interest 8 fiscal Charges .. 19,414 19,502 (88) 22,288 TOTAL EXPENDITURES:::. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 2,721 $ 3,181 S 460 $ 2,908 Proceeds Of Long-Term Debt ......................... S 0 $ 0 S 0 $ 0 Operating Transfers (Out) .......................... 0 0 0 0 Funds Remitted to Bond Trustee ..................... 0 0 0 0 FUND BALANCE JANUARY 1 ............................... 61,430 61,430 0 58,522 Residual Equity Transfers In ....................... 0 0 0 0 Residual Equity Transfers (Out) 0 0 0 0 .................... FUND. BALANGI .DEGEMeER 31:;; ...........x/. 151 $ ' 64,611 >S 460 1 58 r LCity of Renton 1993 CAFR L Page 2 of 6 L 1484"Li#IL:TEp GENERAL OBLIGATION REFUNDING:BOND 1:983 UNL941fED GENERAL::UBL GATIOW. FUNDINOim :BOND VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL S 297,138 $ 297,138 $ 0 $ 301,641 $ 847,116 S 826,049 $ (21,067) S 691,302 0 0 0 0 0 0 0 0 500 1,980 1,480 247 24,000 9,087 (14,913) 13,684 S297;638 '"$ 299,118 $ 1,480 $ 301,888 S 871.136 £ :;5;;:.:;835 136:: ..S (35,980) $ f986:? $ S $ $ $ 145,000 $ 145,000 $ 0 $ 130,000 $ 370,000 S 370,000 $ 0 S 345,000 143,165 143,449 (284) 154,953 508,790 337,105 171,685 475,853 $ 288 165 ;:288449 S 1284) S 9,473 S 10,669 S 1,196 $ 16,935 $ (7,674) $ 128,031 $ 135,705 S (115,867) S 0 S 0 $ 0 $ 0 $ 4,385,000 S 4,660,000 S 275,000 S 0 0 0 0 0 0 0 0 0 0 0 0 0 (4,612,295) (4,582,777) 29,518 0 53,805 53,805 0 36,870 385,389 388,949 3,560 504,816 0 0 0 0 0 0 0 0 r 0 0 0 0 0 0 0 0 949.:. r ow 1r r r Im 59 r City of o Renton 1993 CA FR DEBT SERVICE FUNDS Page 3 of 6 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL ' YEAR ENDED DECEMBER 31, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 GENERAL GOVERNMENT MISCELLANEOUS DEBT_ VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. S 866,699 S 852,102 $ (14,597) S 873,268 Special Assessments ................................ 0 0 0 0 Interest 1,500 4,720 3,220 2,645 TOTAL REVENUES S ':868,399 $ 856,822 S +11,377 SCS :875,1913' EXPENDITURES Debt Service: Principal Retirement ............................. S 565,017 S 541,160 $ 23,857 S 438,341 Interest & Fiscal Charges 415,891 362,892 52,999 340,768 TOT` XPEND TUR S _ 1 E_ ,.<..:.....,...::�<« Ah :;;:>; t: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (112,709) $ (47,230) $ 65,479 $ 96,804 Proceeds Of Long-Term Debt ......................... $ 4,390,000 $ 2,086,750 $(2,303,250) $ 0 , Operating Transfers (Out) .......................... 0 0 0 0 Funds Remitted to Bond Trustee ..................... (1,975,144) (2,047,603) (72,459) 0 FUND BALANCE JANUARY 1 ......... .. ... .. 220,537 236,304 15,767 139,500 Residual Equity Transfers In .. ... .. 0 0 0 0 Residual Equity Transfers (Out) ...................... 0 0 0 0 FUNp:I3ALANG$ DECEMBERi 34;..: :..,..: ............ ;: '.52 60 '. r City of Renton 1993 CAFR r Page 4 of 6 r 198NLIIti:TEE?:GENERI4L 66LIGATft?N BOND SPECIAL-:ASSESSMENT DEBt SERViC&::FlUND ...........__....... .......... VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 553,010 S 539,715 $ (13,295) $ 544,317 $ 0 $ 0 S 0 $ 0 0 0 0 0 1,087,440 888,498 (198,942) 1,739,087 5,000 3,289 (1,711) 3,349 50,000 144,769 94,769 675,531 $ 558,010 $ 543,004 S (15,006)) $ 54iF�.6fi6: S 1,137,440 $ 1,033,267 $ (:104:-:-173) $::2::41 6 8.... $ S $ $ $ $ 165,000 $ 165,000 $ 0 S 155,000 $ 581,000 $ 571,000 $ 10,000 S 983,000 440,821 441,267 (446) 361,816 345,630 335,428 10,202 414,072 $ 605:621 $ 606',267 $ c446 .1: `::516 $16: t :.:.926 63a $ 906,42$ $ 20,202 39x':07 $ (47,811) $ (63,263) S (15,452) $ 30,850 S 210,810 $ 126,839 $ (83,971) $ 1,017,546 $ 3,775,000 $ 4,270,000 $ 495,000 $ 0 $ 0 $ 0 $ 0 $ 0 0 0 0 0 0 0 0 0 (4,204,342) (4,169,030) 35,312 0 0 0 0 0 296,864 298,992 2,128 268,142 2,004,507 2,130,006 125,499 1,112,460 0 0 0 0 0 24,706 24,706 0 0 0 0 0 0 (131,362) (131,362) 0 "$ 336 699 » z 5:16 988 $ 24$942::.. .1r,:2::2tS 31:7.. . $ 2,150,189 1r 61 City I o Renton 1993 CAFR ' I DEBT SERVICE FUNDS Page 5 of 6 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 SPECIAL:_ASSESSMENT GUARANTYiFUND VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 $ 0 S 0 $ 0 Special Assessments ................................ 0 0 0 0 Interest35,000 31,530 (3,470) 46,034 ........................................... TOTAL REVENUES ....................................... $ 35x000.:: S 31,530 $ (3,470) $ 46,034' EXPENDITURES Debt Service: Principal Retirement $ 0 $ 0 $ 0 $ 0 Interest & Fiscal Charges 0 0 0 0 AI.:.EXPENDITUREs ..... S 0 S 0 TOT. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 35,000 $ 31,530 $ (3,470) S 46,034 Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0 Operating Transfers (Out) .......................... (303,342) (303,342) 0 0 Funds Remitted to Bond Trustee ..................... 0 0 0 0 FUND BALANCE JANUARY 1 ............................... 764,363 782,996 18,633 736,962 Residual Equity Transfers In ....................... 0 131,362 131,362 0 Residual Equity Transfers (Out) .................... 0 0 0 0 FU.Np BALANCE:pEGEMBER 31 ............................. $ 496,021 $ '642,546 $ 146,525 $ 782,94t :< I 1 62 ' Ciry ojRen(on 1993 CAFR Page 6 of 6 TOTALS VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 2,640,598 S 2,591,640 $ (48,958) $ 2,489,973 1,087,440 888,498 (198,942) 1,739,087 116,500 196,422 79,922 742,241 $ 3,844,538 $ 3,676;560 $ ;1167,9781 S 4,971,301' r� S 1,881,017 S 1,847,160 $ 33,857 $ 2,106,341 1,873,711 1,639,643 234,068 1,769,750 .a x,754;728 $ 3;;486;8031 $ 267,925 $ 3,87b,.09?i:::: $ 89,810 $ 189,757 $ 99,947 $ 1,095,210 $ 12,550,000 $ 11,016,750 $(1,533,250) $ 0 (303,342) (303,342) 0 0 (10,791,781) (10,799,410) (7,629) 0 3,786,895 3,952,482 165,587 2,857,272 0 156,068 156,068 0 0 (131,362) (131,362) 0 $ 5,331,582 $ 4;080,943 $(1;250,639) $ >3,952,482> 63 1 1 1 1 1 1 1 i City of Renton 1993 CAFR CAPITAL PROJECT FUNDS Capital Project Funds account for the acquisition or development of major capital facilities, except those projects financed by proprietary r funds. Sources of revenue to these funds include general obligation bond proceeds, federal and state grants, general property taxes, interest earnings, and transfers from other funds. r 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 Ow included general and special revenue taxes and Council approved general obligation bonds. GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND - Ow Accounts for revenues and expenditures for numerous capital improvement projects, to provide infrastructure necessary for controlled 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. SENIOR HOUSING CONSTRUCTION FUND - Accounts for the acquisition, construction, rehabilitation, development, and equipment purchases of low income housing and facilities for the elderly. Resources 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 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. 1 I 1 1 i 05 r City of Renton 1993 CAFR CAPITAL PROJECT FUNDS Page 1 of 2 COMBINING BALANCE SHEET , DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 OPEN SPACE MUNICIPAL SENIOR CAPITAL FACILITIES CAPITAL HOUSING IMPROVEMENT CONSTRUCTION IMPROVEMENT CONSTRUCTION ASSETS: Cash and Cash Equivalents ........................ $ 347,395 $ 305,205 $ 1,173,182 $ 239,536 150,000 1,771,620 4,641,797 70,000 Investments ...................................... Receivables: Interest on Investments 591 24,730 182,337 319 Due From Other Funds ...... 292 3,850 0 0 Due From Other Governmental Units 2,005,334 0 289,378 0 TOTAL A'$StTS . ,S 2,503 612 $ ',2,105,405 $ 6,286,694 $ 309,855::;: LIABILITIES AND FUND EQUITY: , LIABILITIES: Vouchers/Contracts Payable ..................... $ 564 $ 7,129 $ 64,043 $ 0 Retainage Payable .............................. 0 0 0 0 Due To Other Funds ............................. 1,550 0 274,814 292 ' Deferred Revenues .............................. 1,659,638 0 0 0 Accrued EmpLoyee Leave Benefits .... 108 0 0 0 TOTAL LIABILITIES .................................. $ '1,661,860 $ 7,i129 $ 338;857 S 2921' FUND EQUITY Fund Balance: Reserved For Arbitrage Rebate ......... $ 0 $ 0 $ 44,675 $ 355,414 Unreserved - Undesignated ................... 841,752 2,098,276 5,903,162 (45,851) TOTAL 'FUND''EQUCTY .. $ 841' 752 $ 2,098,276 $ 5,947,a37 $ 309 563; TOTAL''LIABILITIES'AND FUND EQUITY .. $ 2,503,612 $ 2,105,405 $ 6,286,694 $ 309,855; 66 City of Renton 1993 CAFR Page 2 of 2 TOTALS 1993 1992 $ 2,065,318 $ 3,107,585 6,633,417 6,882,103 207,977 114,359 4,142 15,604 2,294,712 323,858 10,443,5Q4 $ 71,736 $ 531,527 0 58,534 276,656 15,080 1,659,638 1,685,107 108 105 $; 2,008,138 >$ 2290,353> $ 400,089 $ 330,995 8,797,339 7,822,161 $'I 9,197,428 $ 8,153,156 $' 11,205,566 S 10,443,509 Ow 67 City of Renton 1993 CAFR , CAPITAL PROJECT FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1993 , With Comparative Totals for Year Ended December 31, 1992 OPEN SPACE MUNICIPAL CAPITAL FACILITIES CAPITAL ' IMPROVEMENT CONSTRUCTION IMPROVEMENT REVENUES Taxes .............................................. S 0 $ 364,489 $ 0 ' Licenses And Permits ............................... 0 73,000 1,680,614 Intergovernmental Revenues ......................... 3,432,995 0 944,361 Charges For Services ............................... 0 0 1,344 Interest ........................................... 71,994 59,650 94,684 Miscellaneous Revenues ............................. 0 0 0 TOTAt :REVENUES :r':: $ (M98gS 497,139; S .2721ME13; EXPENDITURES , Current: General Government ............................... S 0 $ 0 $ 0 Transportation ................................... 0 0 1,831,611 Culture and Recreation ........................... 0 25,000 0 Capital Outlay ..................................... 3,368,784 139,316 0 Debt Service: Interest & Fiscal Charges ........................ 0 5,364 0 ICTAL :EXPENDITURES ..>: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... S 136,205 $ 327,459 S 889,392 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 0 $ 0 S 0 Interfund Loan Proceeds ............................ 700,000 0 0 Operating Transfers In ............................. 0 472,842 512,188 Operating Transfers (Out) .......................... 0 0 0 Sale Of General Fixed Assets ....................... 0 101,000 0 Funds Remitted to Bond Trustee ... 0 0 0 TOTAL OTHER ftNANC;NG<SWRCES (USES) ..,.. 004 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ S 836,205 $ 901,301 S 1,401,580 , FUND BALANCE JANUARY 1 ............................... 5,547 1,196,975 4,546,257 Residual Equity Transfers In ................... 0 0 0 Residual Equity Transfers Out ................... 0 0 0 FUND BALANCE' DECEMBER a31 ... S 841,752 ' $ 2,098,276:: S 5;947,837« 68 , City of Renton 1993 CAFR Page 2 of 2 SENIOR SPECIAL TOTALS HOUSING ASSESSMENT CONSTRUCTION CONSTRUCTION 1993 1992 $ 0 $ 0 S 364,489 $ 548,285 w 0 0 1,753,614 2,077,755 0 0 4,377,356 1,478,111 0 0 1,344 527 11,065 (4,416) 232,977 311,318 18,720 0 18,720 1,826,868 S 29,785 $: {4jr►)6y 'S 6,748,500 $ 6,242,864 $ 0 S 0 $ 0 $ 37,165 0 5,818 1,837,429 2,805,009 0 0 25,000 0 415,092 0 3,923,192 6,467,816 0 128,630 133,994 200,520 45:;092 .; .:: 134448': $ ,.4;719,615 :i:$ 9,5r.1.0,510: S (385,307) S (138,864) S 828,885 $ (3,267,646) $ 0 S 1,654,063 $ 1,654,063 $ 1,051,050 0 0 700,000 0 0 0 985,030 727,666 0 0 0 (922,039) 0 0 101,000 0 0 (3,200,000) (3,200,000) 0 S 0 :;11,545937} :x ....:240,093 ;i $56;6771 $ (385,307) S (1,684,801) $ 1,068,978 $ (2,410,969) 694,870 1,709,507 8,153,156 10,564,125 0 0 0 746,675 0 (24,706) (24,706) (746,675) 30Q>563 $> 0 $ 9,197,428 $ "'8,153,156 69 Crry of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 >OPEI::SPAC E:CAP1:7Al:`:>tMPR0.VEMEH T. VARIANCE FAVORABLE 1992 , BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 $ 0 $ 0 $ 0 Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 5,693,954 3,432,995 (2,260,959) 523,304 Charges For Services ............................... 0 0 0 0 , Interest ........................................... 0 71,994 71,994 2,078 Miscellaneous Revenues ............................. 0 0 0 0 TOTAL REVENUES ....................................... $ 5,693,954 $3 504,989 $ (2,188,965) $ 525;382; EXPENDITURES Current: General Government ............................... $ 0 $ 0 $ 0 $ 0 Transportation ................................... 0 0 0 0 , Culture and Recreation ........................... 0 0 0 0 Capital Outlay ..................................... 7,268,969 3,368,784 3,900,185 186,422 Debt Service: Interest & Fiscal Charges0 0 0 0 ........................ TOTAL EXPENDITURES:: ...4,1 . ...;>.....:......': ....: $ 186,422 ' EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (1,575,015) $ 136,205 $ 1,711,220 $ 338,960 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt ......................... $ 2,300,000 $ 0 $ (2,300,000) $ 0 Interfund Loan Proceeds ............................ 0 700,000 700,000 0 Operating Transfers In ............................. 0 0 0 0 ' Operating Transfers (Out) .......................... 0 0 0 (333,413) SaLe Of General Fixed Assets ....................... 0 0 0 0 Funds Remitted to Bond Trustee ..................... (2,300,000) 0 2,300,000 0 TOTAL OTHER FINANCING SOURCES (USES;~ .::.; S. 0 i ?0O Q00 $ 700,000 ; ;F....:(333 413)' EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (1,575,015) $ 836,205 $ 2,411,220 $ 5,547 FUND BALANCE JANUARY 1 ............................... 1,575,015 5,547 (1,569,468) 0 Residual Equity Transfers In ....................... 0 0 0 0 Residual Equity Transfers (Out) .................... 0 0 0 0 FUND BALANCE DECEMBER 31 ..... $ 0 $ >841,752 70 ' it City of Renton 1993 CAFR Ir Page 2 of 4 rll . GAPIAL:.i:b19R0YEtF1?S :: 11UN;1; 1 PXL. �4Ci C I7.i.E Y CONSRUCT1iNt;`:>:?':; ::: .......... .....::;,>:.::.:. ............... rtr VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 380,000 $ 364,489 $ (15,511) S 548,285 S 329,000 $ 0 $ (329,000) $ 0 73,000 73,000 0 0 1,678,000 1,680,614 2,614 2,077,755 75,000 0 (75,000) 0 2,337,605 944,361 (1,393,244) 954,807 0 0 0 0 1,000 1,344 344 527 0 59,650 59,650 20,379 10,000 94,684 84,684 68,542 3,893 0 (3,893) 7,058 0 0 0 40 S 531,893 $ 497,>139 $ (34,754) $ 575,722 $ 4,355,605 $ 2,721,003 $ (1';634,602) $ 3,101,671;: $ 0 $ 0 $ 0 $ 37,165 $ 0 $ 0 $ 0 $ 0 0 0 0 0 8,714,809 1,831,611 6,883,198 1,591,042 25,000 25,000 0 0 0 0 0 0 1,725,768 139,316 1,586,452 1,309,169 0 0 0 0 26,919 5,364 21,555 20,381 12,108 0 12,108 0 $;' 1,777:1687 $ 169;680 S 1,608,007 $1,366,715 S 8,726,917 $ 1,831,611 $ 6 $9"s;306 S 1,5917;::.. .. $(1,245,794) $ 327,459 $ 1,573,253 $ (790,993) $(4,371,312) S 889,392 $ 5,260,704 $ 1,510,629 $ 0 $ 0 $ 0 $1,051,050 $ 0 $ 0 $ 0 $ 0 0 0 0 0 0 0 0 0 412,842 472,842 60,000 320,706 330,000 512,188 182,188 340,000 0 0 0 (177,395) 0 0 0 (411,231) 0 101,000 101,000 0 0 0 0 0 0 0 0 0 0 0 0 0 $' 412.;842 $ 573;842 $ 161,000 $1,194,361 " $ 330,000 ` $ 512,188 $ 182,:1;$8 $ 'I (71;231): x. $ (832,952) $ 901,301 $ 1,734,253 $ 403,368 $(4,041,312) $ 1,401,580 $ 5,442,892 $ 1,439,398 1,175,183 1,196,975 21,792 46,932 4,265,833 4,546,257 280,424 3,853,534 «. 0 0 0 746,675 0 0 0 0 0 0 0 0 0 0 0 (746,675) $ 342,231 $2,098;276 . 1,756,045 $1,196,975 $ 224,521 '' $ 5;947,837 ' $ 5;723,3;16 $ >4,546,257 71 Crry of Renton 1993 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, 1993, With Comparative Actual Totals for Year Ended December 31, 1992 SEN.I:fNt 1t0USIF16 GONSCRUCTtON FUND VARIANCE FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL ' REVENUES Taxes .............................................. S 0 $ 0 $ 0 $ 0 �. Licenses And Permits ............................... 0 0 0 0 IntergovernmentalRevenues ......................... 0 0 0 0 Charges For Services ............................... 0 0 0 0 ' Interest ........................................... 0 11,065 11,065 200,459 Miscellaneous Revenues ............................. 18,000 18,720 720 5,000 TOTAL REVENUES ...................... .; X8,000 #....: 29,.7..855:` ':''.:`9'1,785 S 205-.4 e......... EXPENDITURES , Current: General Government ............................... S 0 $ 0 $ 0 $ 0 Transportation ................................... 0 0 0 0 , Culture and Recreation ........................... 0 0 0 0 Capital Outlay ..................................... 430,488 415,092 15,396 4,972,225 Debt Service: Interest & Fiscal Charges 250,000 0 250,000 0 TOTAL EXPENDITURES ..... Zb5,396 S 4,972,225 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (662,488) $ (385,307) $ 277,181 $(4,766,766) OTHER FINANCING SOURCES (USES) ' Proceeds Of Long-Term Debt ......................... S 0 $ 0 $ 0 S 0 Interfund Loan Proceeds ............................ 0 0 0 0 Operating Transfers In ............................. 0 0 0 0 Operating Transfers (out) .......................... 0 0 0 0 Sale Of General Fixed Assets ....................... 0 0 0 0 Funds Remitted to Bond Trustee ..................... 0 0 0 0 TOTAL OTHER FINANCING SOURCES (USES.) S ;: ... ;`.0 ;.. 0 $ EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (662,488) S (385,307) $ 277,181 $(4,766,766) FUND BALANCE JANUARY 1 ............................... 676,536 694,870 18,334 5,461,636 Residual Equity Transfers In ....................... 0 0 0 0 Residual Equity Transfers (Out) .................... 0 0 0 0 FUND BALANCE DECEMBER'31 ......:.............: .. S 14,048 $'' :309361i::.'3 295,515 72 ' rr City of Renton 1993 CAFR L Page 4 of 4 SSESSNENf:I±ONS7RUC7IQft.> UNt) ......... ....::..:..::::::. ............. .::70TXCS VARIANCE VARIANCE FAVORABLE 1992 FAVORABLE 1992 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 0 S 0 $ 0 $ 0 $ 709,000 $ 364,489 $ (344,511) $ 548,285 0 0 0 0 1,751,000 1,753,614 2,614 2,077,755 0 0 0 0 8,106,559 4,377,356 (3,729,203) 1,478,111 0 0 0 0 1,000 1,344 344 527 0 (4,416) (4,416) 19,860 10,000 232,977 222,977 311,318 0 0 0 1,814,770 21,893 18,720 (3,173) 1,826,868 $ 0 $ (4,416) $ (4;416) $ 1,834,630 $ 10,'599,452 $ 6',748,500 S(3;$50,952? $> 6,2428"4 $ 0 $ 0 S 0 $ 0 $ 0 $ 0 $ 0 $ 37,165 40,524 5,818 34,706 1,213,967 8,755,333 1,837,429 6,917,904 2,805,009 0 0 0 0 25,000 25,000 0 0 1� 0 0 0 0 9,425,225 3,923,192 5,502,033 6,467,816 123,046 128,630 (5,584) 180,139 412,073 133,994 278,079 200,520 <3 163,570 $ 134,448 S 29,122 $ 1,394,106 $ 18,617,63111 $ 5>,9191615 $12,698,016 S' 9,510,510 ' rr $ (163,570) $ (138,864) $ 24,706 S 440,524 $ (8,018,179) $ 828,885 $ 8,847,064 $ (3,267,646) $ 1,654,063 S 1,654,063 $ 0 $ 0 $ 3,954,063 $ 1,654,063 $(2,300,000) S 1,051,050 0 0 0 0 0 700,000 700,000 0 0 0 0 66,960 742,842 985,030 242,188 727,666 0 0 0 0 0 0 0 (922,039) 0 0 0 0 0 101,000 101,000 0 (3,200,000) (3,200,000) 0 0 (5,500,000) (3,200,000) 2,300,000 0 $(1'545' 937) :S(4;:545;937) S 0 $ 66,960 S (803,095) $ 240,093 S 1,043,188 $ 856" S(1,709,507) $(1,684,801) $ 24,706 S 507,484 $ (8,821,274) S 1,068,978 $ 9,890,252 $ (2,410,969) 1,709,507 1,709,507 0 1,202,023 9,402,074 8,153,156 (1,248,918) 10,564,125 0 0 0 0 0 0 0 746,675 0 (24,706) (24,706) 0 0 (24,706) (24,706) (746,675) $ 0 $ 0 $ 1,709,507 :' $ 580,800 $ 9,197,428 $ 8,616,628 S 8,153,156' 73 1 1 1 1 1 1 i i City of Renton 1993 CAFR ENTERPRISE FUNDS 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. AIRPORT FUND - Provides accounting for revenues and expenses r 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. 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. rr •r aw 75 City of Renton 1993 CAFR ENTERPRISE FUNDS Page 1 of 2 ' COMBINING BALANCE SHEET YEAR ENDED DECEMBER 31, 1993 ' With Comparative Totals for December 31, 1992 WATERWORKS AIRPORT SOLID WASTE UTILITY UTILITY ASSETS: Current Assets: Cash and Cash Equivalents ............................ $ 397,154 $ 514,775 $ 29,865 Cash With Fiscal Agent ............................. 1,969 0 0 Investments ........................................ 257,156 799,688 150,000 Receivables, net of Allowance for Uncollectibles: Accounts ......................................... 1,734,363 53,598 1,055,567 Interest on Investments .......................... 353,040 15,305 9,968 Allowance for Uncollectable ...................... (46,029) (3,929) (14,782) Due From Other Funds ............................... 0 0 138 ' Due From Other Governmental Units .................. 719,272 0 39,071 Inventory of Material and Supplies ................. 268,426 0 0 Prepaid Items ...................................... 0 3,938 0 Total Current Assets.............................. 3,685,351 1,383,375 1,269,827 ' Restricted Assets: Deposits ........................................... 29,170 0 0 Revenue Bond Debt Service .......................... 4,046,703 0 0 Construction Account ............................... 9,237,889 0 0 Total Restricted Assets........................... 13,313,762 0 0 Property, Plant and Equipment: Fixed Assets (Net) ................................. 80,535,077 4,009,213 325,642 Construction In Progress ........................... 12,435,729 62,718 0 Total Property, Plant and Equipment ... 92,970,806 4,071,931 325,642 Deferred Charges and Other Assets ... 160,000 0 0 TOTAL ASSETS $110;129,;919 S5 455;306 $ 1,595`,469 LIABILITIES AND FUND EQUITY: LIABILITIES: Current Liabilities: Vouchers/Contracts Payable ..................... $ 316,195 $ 3,289 $ 460,594 Retainage Payable .............................. 54,630 0 0 , Due To Other Funds ............................... 0 0 0 Interfund Loans/Advances - Current ............... 0 0 0 Due To Other Governmental Units .................. 56,181 0 0 Matured Interest Payable ......................... 1,969 0 0 Accrued Interest Payable ......................... 334,759 0 1,098 Accrued Wages Payable ............................ 21,054 79 2,177 Accrued Employee Benefits Payable ................ 3,173 12 332 Accrued Taxes Payable ............................ 73 24,517 32,138 Deferred Revenues ................................ 54,718 63,315 0 Total Current Liabilities....................... 842,752 91,212 496,339 Liabilities Payable from Restricted Assets: Deposits Payable ................................. 29,170 0 0 General Obligation Bonds Payable - Current ....... 54,560 0 45,000 Revenue Bonds Payable - Current Portion .......... 1,390,000 0 0 Total Liabilities Payable From Restricted Assets 1,473,730 0 45,000 Long Term Liabilities: General Obligation Bonds Payable ................. 517,880 0 260,000 ' Unamortized Discounts on G.O. Bond ............... (12,509) 0 0 Revenue Bonds Payable ............................ 26,360,000 0 0 Unamortized Discounts on Revenue Bond ............ (617,977) 0 (8,697) Accrued Employee Leave Benefits .................. 278,704 16,877 3,247 ' Interfund Loans/Advances - Non-Current ........... 0 0 0 Public Works Trust Fund Loan Payable ............. 1,385,565 0 0 Arbitrage Rebate Tax Payable ..................... 8,024 0 0 Total Long Term Liabilities........... 27,919,687 16,877 254,550 :TOTAL LIABILITIES .............. $ 30,236,169 $ 108,089 $ 795,889 '' FUND EQUITY: Contributed Capital ................................ $ 70,483,225 $1,999,770 $ 0 Retained Earnings: Reserved For Debt Service ........................ 2,201,018 0 0 Unreserved ....................................... 7,209,507 3,347,447 799,580 TOTAL FUND EQUITY .. .. .... $ '79,893,750 $5,347,217 $ 799,580` DOTAL LIABILITIES AND FUND EQUITY ...................... $110,129,919 $5,455,306 $ 1,595,469 11 City of Renton 1993 CAFR Page 2 of 2 TOTALS GOLF COURSE 1993 1992 $ 77,160 $ 1,018,954 $ 539,362 0 1,969 1,969 75,000 1,281,844 2,670,433 14,107 2,857,635 2,478,893 400 378,713 272,055 0 (64,740) 0 140,396 140,534 134,675 0 758,343 1,005,301 0 268,426 242,704 0 3,938 3,938 307,063 6,645,616 7,349,330 0 29,170 20,480 0 4,046,703 3,905,118 0 9,237,889 8,017,714 0 13,313,762 11,943,312 4,740,581 89,610,513 84,037,922 3,851 12,502,298 6,900,195 4,744,432 102,112,811 90,938,117 0 160,000 176,000 � 35D5#,495: S#22: 232,189 3:1;10,406,(759':: $ 4,478 $ 784,556 $ 1,015,389 11,325 65,955 53,207 657 657 25,765 104,991 104,991 9,209 0 56,181 9,420 0 1,969 1,969 12,240 348,097 286,591 1,150 24,460 20,779 175 3,692 2,328 7,159 63,887 59,554 0 118,033 75,787 142,175 1,572,478 1,559,998 0 29,170 20,480 275,280 374,840 295,260 0 1,390,000 1,120,000 275,280 11794,010 1,435,740 2,612,940 3,390,820 3,183,980 (58,332) (70,841) (94,375) 0 26,360,000 21,425,000 0 (626,674) (471,992) 26,854 325,682 286,616 29,899 29,899 39,890 0 1,385,565 963,821 0 8,024 7,465 2,611,361 30,802,475 25,340,405 $3,028,816 $'' 34,168,963 $ '28,336,143'' $ 5,000 $ 72,487,995 $ 67,478,189 0 2,201,018 2,004,768 2,017,679 13,374,213 12,587,659 $2,022,679 $ '88,0631226 $'r 82,070,616 'I $5;051,495 $#22,232,184 $1.10,406,759;:; 77 City of Renton 1993 CAFR i ENTERPRISE FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY , FOR THE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 WATERWORKS AIRPORT SOLID WASTE ' UTILITY UTILITY OPERATING REVENUES: Charges for Services ........................... $ 14,596,717 $ 606,103 $ 6,251,537 ' Other Operating Revenue ........................ 234,904 6,060 0 TOTAL; OPERATING REVENUE .......................... $ 14,831,621 $ 612,163 $ 6,251,537' OPERATING EXPENSES: , Operations and Maintenance ..................... S 8,039,088 S 201,266 S 5,629,406 Administrative and General ..................... 1,262,446 82,429 0 Insurance ...................................... 0 11,378 0 Taxes .......................................... 1,176,613 0 840,833 De reciation 1 858,777 231,793 55,466 TOTAL. OPERATING EXPENSES $ 12,336,924 OPEkA1tNG`INCOME (LOSS) -.- $ 2,494,697168� ' NON-OPERATING REVENUE (EXPENSE): Interest Revenue ............................... $ 590,955 S 42,094 S 5,484 , Other Non-operating Revenue .................... 67,520 8,562 169,577 Interest Expense ............................... (1,294,502) (873) (11,926) Arbitrage Expense .............................. (559) 0 0 ' Amortization of Debt Discount and Expense (59,174) (309) (1,208) NON.OPE.RAT:INGIREVENUE)NET OF 'EXPENSES $ (695,760) $ 49,'474 : ;::':.;:[:6( 7 INCOME CEOSS) BEFORE OPERATING TRAN.5FERS ......... $ 1,.798,937 $'< 1.34,771 #,.,. .f.112;Z TT OPERATING TRANSFERS IN .......................... 0 0 0 NET INCOME: fEfl $� BEFORE EXTRAORDINARY '1,798, 37 > 34,T1 ..;:3 t1.?2= yi3; , EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 1,195,745 0 0 NET INCOME (LOSS) ........... ... ..... $ 603,192 $ 134,771 $ (112,241) ' Depreciation Reducing Grant Contributed CapitaL. 0 159,580 0 INCREASE tDECREASE) IN RETAI:.N.ED EARNINGS . ....... $ 603,1922 S RETAINED EARNINGS, JANUARY 1 ....... $ 8,807,333 $ 3,053,096 $ 911,821 :RETAINED EARNINGS, JANUARY I, RESTATED $ 8.807, S 3,'053,096 $ 911,821>: RETAINED EARNINGS, DECEMBER 31 ............. $ 9,410,525 $:::I 3,347,447 S 799;5$0:::' CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 65,417,499 $ 2,055,690 $ 0 Capital Grants ............................... 966,423 0 0 Amortization on Capital Grants ............... 0 (159,580) 0 ' Other Contributed Capital .................... 4,099,303 103,660 0 :CONTRI;BUTED CAPITAL,%:DECEMBER:31 $5,,.70,483,225 $ I 1,999,770 $ 0 f.UND ECUITY,:OECEMBER 31 $ ::79,893,750 $ 5,347,217 $ 799,580 ' 78 r City of Renton 1993 CAFR Page 2 of 2 TOTALS GOLF COURSE 1993 1992 a $ 787,524 $ 22,241,881 $ 21,226,806 16,673 257,637 449,709 $ '804,197 $ 22,499,518 $ 21,676,515 $ 525,879 S 14,395,639 $ 13,660,346 0 1,344,875 1,279,757 0 11,378 11,021 3,722 2,021,168 1,879,379 52,295 2,198,331 2,057,498 $ 581,896 $ 19,971,391 $ 18,888,Q0!1 S 222,301 $ 2,528,127 S 2;788,51::;: $ 8,375 $ 646,908 $ 722,553 0 245,659 108,424 (160,824) (1,468,125) (1,582,516) 0 (559) (520) (9,963) (70,654) (55,810) S (162;412) ' S (646,771) $ (807,,$bS) S 59,889 $ 1,881,356 $ 1 j 980.611 :; 375,575 375,575 372,125 $ 435,464 $'< 2,256,931 S 2,352,770 237,962 1,433,707 384,077 $ 197,502 $ 823,224 $ 1,968,693 0 159,580 121,331 $ 197,502 S 982,804 S 2,090,024` $ 1,820,177 $ 14,592,427 $ 12,502,403 $ 1,820,177 $ 14,592,427 $ 12,502,403 $ 2;017,679 S 15,575,231 S 14,592;427 ' $ 5,000 $ 67,478,189 $ 64,215,527 0 966,423 1,852,848 0 (159,580) (121,331) 0 4,202,963 1,531,145 S 5,000 $ 72,487,995 '` S 67,478,189 S 2,022,679 $ 88,063,226 S ',82,070,616r 79 City of Renton 1993 CAFR ENTERPRISE FUNDS Page 1 of 4 COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 WATERWORKS AIRPORT SOLID WASTE UTILITY CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Customers ................................. $ 14,001,670 $ 625,393 $ 6,223,137 Cash Received From Other Funds for Services .................. 403,834 0 6,587 Cash Paid to Suppliers for Goods and Services ................ (4,991,550) (75,023) (5,704,817) Cash Paid to Other Funds for Goods and Services .............. (2,494,287) (64,868) (290,865) Cash Paid to Employees ....................................... (2,109,167) (146,352) (91,705) Cash Paid for City Utility Taxes ............................. (869,965) 0 (374,745) Other Operating Receipts ... ... .... 234,904 6,060 0 ' Other Non-Operating Receipts ................................. 23,446 8,335 97 NET CASH'''PROVIDED (USED) BY OPERATING ACTIVITIES .: $ 4;;#98,885;: ..5 353;545 $ (232;311) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Proceeds From Interfund Loans ................................ S 0 S 0 $ 0 Operating Grants Received .................................... 0 0 139,291 Operating Transfers From Other Funds ......................... 0 0 0 Repayments on Interfund Loans ................................ 0 0 0 NET CASH PROVIDED (USED) BY NONCAR TAI FINANCING ACTIVITIES.....:b:. 3 0 S> 139 291> CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds .................................. $ 5,159,749 S 0 $ 350,000 Payments on Bond Issuance and Registration Fees .............. (3,672) 0 (9,905) Proceeds From State Long-Term Loans .......................... 477,925 0 0 Acquisition and Construction of Capital Assets ............... (10,103,669) (148,222) (371,642) Payments Received from Intergovernmental Loan ................ 37,875 0 0 Capital Contributions ........................................ 1,668,594 0 0 CapitaL Grants ............................................... 1,202,191 135,690 0 Principal Payments on Bonds .................................. (1,298,840) (50,000) (45,000) Interest Payments on Bonds ................................... (1,307,523) (1,654) (10,828) Interest Payments on State Long Term Loans ................... (29,009) 0 0 NET`CASH''PROVIDED (USED) &Y:CAPITAI :FINANCING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ S 19,148,806 $ 1,724,999 $ 625,000 Payments for Investments ..................................... (17,962,852) (1,877,363) (475,000) Interest on Investments ...................................... 454,133 36,795 10,503 NET CASH<PRaVIDED (USED) BY INVESTING ACTIVITIES $ 1,640,087 $ (115,569) $ t60;l5Q3: NET INCREASE.<D:ECREASE7. IN GASH AND CASH EQUIVALENTS ........... $ 1,642,593 S 173x7,90 $ (19,8921 AN CASH DCASH; QUIVALENTS, ;IANUARIf 1............................ 12,068,323 340,985 44,757: CASH AND CASN.;EOULVAtENTS, DECEMBER;3I ......................... $ 13,710,916 $ CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 397,154 S 514,775 $ 29,865 Cash Restricted for: Deposits ................................................... 29,170 0 0 Revenue Bond Debt Service .................................. 4,046,703 0 0 Construction Account9,237,889 0 0 ....................................... TOTAL CASH AT THE END OF THE YEAR .. .'...'........................ $ 13,710,916':`. #i 53.4,775 �:;; 29 865a 80 _, City of Renton 1993 CAFR Page 2 of 4 TOTALS GOLF COURSE 1993 1992 $ 784,583 S 21,634,783 $ 20,644,861 0 410,421 352,660 (230,088) (11,001,478) (10,352,318) .. (85,233) (2,935,253) (2,650,538) (213,782) (2,561,006) (2,412,675) 0 (1,244,710) (1,179,827) 17,137 258,101 449,302 0 31,878 102,993 $ 272`617 $ '4592,736 $ 4,954,458 $ 95,000 S 95,000 $ 0 0 139,291 53,678 366,394 366,394 364,715 (13,382) (13,382) (101,480) $ 448,012'' S 587,303 $< 316,9,13. $ 2,180,040 $ 7,689,789 $ 3,929,064 (40,835) (54,412) (1,448) 0 477,925 973,241 (474,207) (11,097,740) (4,889,185) 0 37,875 0 0 1,668,594 981,831 0 1,337,881 1,281,828 (246,420) (1,640,260) (1,168,980) (161,671) (1,481,676) (1,670,185) (2,139 143) (2,168,152) (1,744) $ <IWZ,236) S '(5,230;>176) $' (565,578.) $ 650,000 S 22,148,805 $ 25,897,112 (445,000) (20,760,215) (27,224,095) 10,158 511,589 652,861 $' 215,158 S 1,900,179 $ (674,122) $ 53,551 S ,1,850,042 $ 4,031,671 23,609 12,482,674 8,451,003 $ 77,160 S 14,332,716'' $ 12,482,674 $ 77,160 $ 1,018,954 $ 539,362 0 29,170 20,480 0 4,046,703 3,905,118 0 9,237,889 8,017,714 $' 77,160 S 14,332,716 $ 12;482,674 81 City of Renton 1993 CAFR ENTERPRISE FUNDS Page 3 of 4 COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 ' With Comparative Totals for Year Ended December 31, 1992 WATERWORKS AIRPORT SOLID WASTE UTILITY RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ 2,494,697 $ 85,297 $ (274,168) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Depreciation and Amortization of Deferred Charge ........... 1,874,777 231,793 55,466 Other Non-Operating Revenue ................................ 67,520 8,562 235 (Increase) Decrease in Accounts Receivable (289,989) 5,028 (28,082) (Increase) Decrease in Due From Other Funds/Governmental ... 2,076 0 1,246 (Increase) Decrease in Inventory/Prepaid Items ............. (25,722) 0 0 Increase (Decrease) in Vouchers/Retainage Payable .......... 42,566 335 8,938 Increase (Decrease) in Due to Other Funds/Governmental ..... 0 0 (1,405) Increase (Decrease) in Payables/Other Short Term Liabilities 3,066 1,922 4,192 Increase (Decrease) in Customer Deposits ................... 8,690 0 0 Increase (Decrease) in Deferred Revenues .................. (14,852) 16,134 0 Increase (Decrease) in Accrued Employee Leave Benefits ..... 36,056 17 1,267 Capital Cost Reported as Operating Expense ................. 0 4,457 0 Total Adjustments ...................................... $ 1,704,188 $ 268,248 $ 41,857 NET CASH PROVIDED (USED) BY>OPERAT::.J:N6 ACT VtT1ES ............ $ 4,198,885 $ 353,545 $I' (2321311) SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: Fixed Assets Contributed By Developers ....................... $ 2,194,457 $ 0 $ 0 Fixed Asset Contributed By Other Funds ....................... 6,124 0 0 Advance Refunding of Revenue Bonds ........................... 9,092,924 0 0 TOTAL"NONCASH''CAPITAL''AND RELATED FINANCING ACTIVITIES ......... $ 11,293,505'' $ 0"', $ Qi 82 City of Renton 1993 CAFR Page 4 of 4 TOTALS GOLF COURSE 1993 1992 $ 222,301 $ 2,528,127 $ 2,788,514 52,295 2,214,331 2,073,498 0 76,317 80,120 (2,352) (315,395) (282,040) 0 31322 136,364 0 (25,722) 6,556 (1,551) 50,288 (1,988) 0 (1,405) (7,230) �. 198 9,378 9,147 0 8,690 (1,208) 0 11282 50,128 1,726 39,066 102,060 0 4,457 537 $ 50,316 $ 2,064,609 $ 2,165,944 $ 272,617 $ 'j,4,592,736 $ 4,954,458> $ 0 $ 2,194,457 $ 533,417 0 61124 26,124 0 9,092,924 4,543,300 $ 0 $c'11,293,505 $ 5,102,841 83 � Y � City of Renton 1993 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 .r apparatus and replacement of police patrol vehicles. All equipment costs, including depreciation, are factors in calculating the rates which are 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. r r r s 85 City of Renton 1993 CAFR INTERNAL SERVICE FUNDS Page 1 of 1 COMBINING BALANCE SHEET YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 TOTALS EQUIPMENT INSURANCE RENTAL 1993 1992 ASSETS: , Current Assets: Cash and Cash Equivalents .......................... $ 400,105 $ 338,217 S 738,322 $ 602,263 Investments ...................................... 100,000 1,050,231 1,150,231 1,430,372 Receivables: Accounts ....................................... 0 28,394 28,394 15,792 Interest on Investments ........................ 266 20,711 20,977 23,269 Interfund Loans/Advances - Current ............... 0 9,991 9,991 9,209 Due From Other Governmental Units ................ 71,899 0 71,899 83,465 Inventory of Material and Supplies ............... 38,704 0 38,704 52,828 Prepaid Items .................................... 0 3,000 3,000 3,000 Total Current Assets............................ 610,974 1,450,544 2,061,518 2,220,198 Property, Plant and Equipment: Fixed Assets (Net) ............................... 1,620,313 0 1,620,313 1,559,094 Total Property, Plant and Equipment............. 1,620,313 0 1,620,313 1,559,094 Interfund Loans/Advances - Non-Current 0 29,899 29,899 39,890 TOTAL ASSETS $!2 231<287 $ >1,480,443 3 �7l.`73 3 3`819 182: , LIABILITIES AND FUND EQUITY: LIABILITIES: Current Liabilities: ' Vouchers Payable ............................... S 52,915 $ 32,881 $ 85,796 $ 51,756 Due To Other Funds ............................. 0 0 0 3,324 Accrued Interest Payable ....................... 9,421 0 9,421 13,617 Accrued Wages Payable .......................... 3,508 0 3,508 1,824 Accrued Employee Benefits Payable .............. 534 0 534 222 Other Short Term Liabilities ................... 0 61,597 61,597 18,630 General Obligation Bonds Payable - Current ..... 74,005 0 74,005 66,920 Total Current Liabilities..................... 140,383 94,478 234,861 156,293 , Long Term Liabilities: General Obligation Bonds Payable ............... 744,560 0 744,560 795,443 Unamortized Discounts on G.O. Bond ............. (10,393) 0 (10,393) (11,529) Accrued Employee Leave Benefits ................ 47,760 0 47,760 44,743 Claims Incurred But Not Reported................ 0 1,259,126 1,259,126 723,609 Arbitrage Rebate Tax Payable ................... 2,911 0 2,911 2,723 Total Long Term Liabilities. 784,838 1,259,126 2,043,964 1,554,989 TOTAL LIABILITIIES ....... ...... .....:r $::::::925, ;221 $ ;'1,353,604 g 2,278,825 $ 1,711,282:: FUND EQUITY: Contributed Capital .. .. .. .. $1,038,192 $ 0 $ 1,038,192 $ 1,038,192 Reserved For Insurance Deductible .. 0 0 0 500,000 Unreserved ... 267,874 126,839 394,713 569,708 TOTAL FUND'EQUITY ..;?s A.C.. ... ' ...... ........... $1,306,066 $ 126,1839 Y 1,432,,905 . 2,1.07,946;; TOTAL LIABILITIES AND;!F.QND;EQUITY .................... $2,231,287 $ I1 4$01443 3- 3,711.j73 86 City of Renton 1993 CAFR INTERNAL SERVICE FUNDS Page 1 of 1 COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY FOR THE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 TOTALS EQUIPMENT INSURANCE RENTAL 1993 1992 OPERATING REVENUES: Charges for Services ........................... $ 1,191,638 $ 4,009,949 $ 5,201,587 $ 4,426,827 Other Operating Revenue ........................ 0 258,597 258,597 92,782 TOTAL OPERATING REVENUE ...I....... ...... ...... . $ 1,191,638 $ 4,268,546 $ 5,460,184 $ 4,5 W OPERATING EXPENSES: Operations and Maintenance ..................... $ 686,313 $ 0 $ 686,313 $ 616,084 Benefit Payments ............................... 0 4,217,601 4,217,601 3,729,598 Professional Services .......................... 0 220,702 220,702 201,918 Administrative and General ..................... 164,875 101,936 266,811 213,345 Insurance ...................................... 0 421,181 421,181 412,902 Depreciation ........................... 365,026 0 365,026 347,374 TOTALOPERATING EXPENSES _......'................ $ 1,216;214 $ 4,961,420 $ :6,177';634 $?: ,, :;, OPERATING INCOME (LOSS) .......................... $ (24,576) $ (692,874) $ (717,450) $ (1,p01;,612) NON-OPERATING REVENUE (EXPENSE): Interest Revenue ............................... $ 13,577 $ 41,214 $ 54,791 $ 89,136 Gain (Loss) on Sale of Assets .................. (23,949) 0 (23,949) 12,118 Other Non-operating Revenue .................... 7,090 70,108 77,198 18,732 Interest Expense ............................... (45,900) 0 (45,900) (46,414) Arbitrage Expense .............................. (188) 0 (188) (176) Amortization of Debt Discount and Expense (1,476) 0 (1,476) (1,289) NON OPERATING REVENUE NET .OE EXPENSES $ (5Q 846) $ 111;322 $ 60,476 72;:107:: INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... $ (75,422) $ (581,552) $ (656,974) S (929,505) w OPERATING TRANSFERS IN .......................... 0 0 0 300,000 OPERATING TRANSFERS OUT .......................... 0 0 0 (110,000) NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM ...... $ (75,422) $ (581,552) $ (656,974) S (739,505) EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 22,782 0 22,782 0 NET INCOME (LOSS) ................................ $ (98,204) $ (581,552)i': (739,505): RETAINED EARNINGS JANUARY 1 ..................... $ 361,317 $ 708,391 $ 1,069,708 S 1,809,213 RETAINED.,EARNINGS, JANUARY,$, RESTk?ED $ 361,317 $ 708,391 I' $ 1,069,708: $" 1,809!'213'' Residual Equity Transfers In (Out) ............. 4,761 0 4,761 0 RETAINED EARNINGS, 'DECEMBER:3t. ......'............. $ 267,874 $ 126,839*. $ 394,713 $ 1,069,708r CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 1,038,192 $ 0 $ 1,038,192 $ 1,035,268 Other Contributed Capital .................... 0 0 0 2,924 CONTRIBUTED'CAPITAL, DECEMBER 31 ................. $ 1,038,192 $ 0 $ 1,038,192 $ 1,038,192' FUND EQUITY, 'DECEMBER 31 `......................... $ 1,306,066 $ 126,839 $ 1,432,905,,.:.:.$ 2,107,900;1 87 City of Renton 1993 CAFR i INTERNAL SERVICE FUNDS Page 1 of 1 , COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 , TOTALS EQUIPMENT INSURANCE RENTAL 1993 1992 CASH FLOWS FROM OPERATING ACTIVITIES: , Cash Received From Other funds for Goods and Services ........ $1,191,638 $ 4,009,949 $ 5,201,587 $ 4,428,778 Cash Paid to Suppliers for Goods and Services ................ (309,567) (4,289,470) (4,599,037) (4,380,858) Cash Paid to Other Funds for Goods and Services .............. (279,488) (101,500) (380,988) (258,791) ' Cash Paid to Employees ....................................... (216,625) 0 (216,625) (228,830) Other Operating Receipts ..................................... 0 258,597 258,597 90,327 Other Non-Operating Receipts .. ........ .... 29,362 65,935 95,297 37,179 NET CASH PROVIDED ((ISEDI[..:BY OPEkATINGiAG1fIVITIES (312,195) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Operating Transfers From Other Funds ......................... $ 0 $ 0 $ 0 $ 300,000 Operating Transfers To Other Funds ........................... 0 0 0 (110,000) Repayments on Interfund Loans ................................ 0 13,382 13,382 101,480 [ET;CASH.PROVIDED:; USED),BY NONGAPtTAL.:FIAMC INGACTIVtTIES ";`:;;::13°:382`::<::: 5::::::.....:]3:'382 $ _-. 291 X480 CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds .................................. $ 0 $ 0 $ 0 $ 310,320 Payments on Bond Issuance and Registration Fees .............. (1,720) 0 (1,720) (140) ' Proceeds From Sale of Equipment .............................. 15,909 0 15,909 15,336 Acquisition and Construction of Capital Assets ............... (476,931) 0 (476,931) (388,209) Principal Payments on Bonds .................................. (67,020) 0 (67,020) (106,055) Interest Payments on Bonds ................................... (48,377) 0 (48,377) (45,406) Residual Equity Transfer Out ... 4,761 0 4,761 0 NEI::CASH.:PROVIDMi.tt1SED� BY.CAPI.:TJIf_ FINANCING;ACTIVI7TES.:..x,; [.::(5ir3;378 ....$...: 0 3.;.:..f57j,378154..) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments $ 890,000 $ 1,120,934 $ 2,010,934 $ 2,788,838 Payments for Investments .................................. (740,000) (990,793) (1,730,793) (2,585,372) Interest on Investments 14,263 42,820 57,083 113,797 AT: ET GASFI:PRQVIDED:i(USED) BY #NVESTING"ACTIVITIES ............... $ 164,263 $ 172,961 $ 337,224 $ 317'263 : NET INCREASE,DECREASE) IN CASH ANDi:CASH EQUIVALENTS ........... $ 6,205 $ 129,854 $ 136,059 $ , CASH>ANO CASH EQUIVALENTS, JANUARY 1 393,900 208,363 602,263 519;869 :CASH iAND;CASH EQUIVALENTS, DECEMBER 31 ......................... $,, 400,105 $ 338,217 S 738t.322 $ 602,263:': CASH AT THE END OF THE YEAR CONSISTS OF: , Cash and Cash Equivalents .................................... $ 400,105 S 338,217 $ 738,322 S 602,263 TOTAL CASFI;AT THE::END OF :THE YEAR. :a:f ......: :,.......,f S 400,I OS $ 338,217 $; 738,322' $> 602,263 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH ' PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ (24,576) $ (692,874) $ (717,450) $(1,001,612) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: , Depreciation ............................................... 365,026 0 365,026 347,374 Other Non-Operating Revenue ................................ 7,090 65,935 73,025 6,972 (Increase) Decrease in Accounts Receivable ................. 0 (12,602) (12,602) (15,792) (Increase) Decrease in Due From Other Funds/Governmental ... 22,272 0 22,272 32,158 (Increase) Decrease in Inventory/Prepaid Items ............. 14,124 0 14,124 (2,933) Increase (Decrease) in Vouchers Payable .................... 26,371 7,792 34,163 31,498 Increase (Decrease) in Due to Other Funds/Governmental ..... 0 (3,224) (3,224) 3,192 Increase (Decrease) in Payables/Other Short Term Liabilities 1,996 42,967 44,963 (5,655) Increase (Decrease) in Accrued Employee Leave Benefits ..... 3,017 0 3,017 6,451 Increase (Decrease) in Claims Incurred But Not Reported .... 0 535,517 535,517 288,048 Capital Cost Reported as Operating Expense ................. 0 0 0 (1,896) Total Adjustments ...................................... $ 439,896 $ 636,385 $ 1,076,281 $ 689,417 NET;;CA$H';PROVIDED (USED) BY OPERATING ACTIVITIES $ :415,320 $ X56;489).: S 358,831 $ (312,795) SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: Fixed Asset Contributed By Other Funds ....................... $ 4,556 $ 0 $ 4,556 $ 2,925 Asset Trade-In ............................................... 25,500 0 25,500 17,691 Advance Refunding of Revenue Bonds 207,169 0 207,169 0 TOTAL:NONCAS.N C0.1. AGIIVITIES' ......... S237 225 $'.'..::: ri 88 City of Renton 1993 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, r 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 r 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. 1 89 City of Renton 1993 CAFR r Page 1 of 2 r FIDUCIARY FUNDS COMBINING BALANCE SHEET N DECEMBER 31, 1993 PENSION AGENCY FUNDS With Comparative Totals for December 31, 1992 TRUST PENSION SPECIAL ADVANCE FLEXIBLE r TRUST DEPOSIT TRAVEL BENEFITS ASSETS: Cash and Cash Equivalents $ 491,434 $ 301,464 $ 4,000 $ 1,834 0 0 0 0 r Deferred Compensation Plan Assets ..........•••••' 1,990,168 0 0 0 Investments ...................................... Receivables: 0 0 0 0 Accounts ....................................... 0 0 0 Interest on Investments 88,307 r 657 0 0 2,893 Due From Other Funds •• •• 0 0 0 Interfund Loans/Advances-Current Note 5 .. 95,000 TOTAL ASSETS $>2;665;566 $ 301,464 4,000 $ 4,727 LIABILITIES AND FUND EQUITY: r LIABILITIES: Vouchers Payable ............................... $ 0 $ 2,200 $ 0 $ 4,336 391 Deposits Payable ............................... 0 299,264 0 0 Deferred Compensation Payable .................. 0 0 0 0 p 4,000 0 Interfund Loans/Advances - Non-Current r TOTAL LIABILITIES .1' .... $ 0 $ 301,464 $ 4,000 $ 4,727 FUND EQUITY: Fund Balance: Reserved For Pension Obligation .............. $ 7,076,000 $ 0 $ 0 0 $ Unreserved Undesignated (4,410 434) 0 0 0 .. .... .... TOTAL FUND 'EQUITY ................. $; 2,665,566 $ 0 $ 0 $ 0 : TOTAL LIABILITIES'AND FUND EQUITY ............... $ 2,665,566 $ 301,464 $ 4,000 $ 4 727: • 90 �-' City of Renton 1993 CAFR Page 2 of 2 TOTALS DEFERRED COMPENSATION 1993 1992 $ 0 $ 798,732 $ 620,858 4,459.,948 4,459,948 3,439,581 0 1,990,168 2,033,516 0 0 366 0 88,307 101,606 w 0 3,550 0 0 95,000 0 $ 4,459,948 $ `,7,435,705 $ 6,195,927 $ 0 $ 6,536 $ 31176 0 299,655 318,274 .. 4,459,948 4,459,948 3,439,581 0 4,000 4,000 $' 4,459,948 $ 4,770,139 $ 3,765,031 rr $ 0 $ 7,076,000 $ 6,998,000 0 (4,410,434) (4,567,104) $ 0 665,566 $ 2,430,896 r S 4,4W; 435',705 $ `I 6,195,927 rr r r r r/ 91 City of Renton 1993 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, 1993 With Comparative Totals for Year Ended December 31, 1992 1993 1992 OPERATING REVENUES: Fire Insurance Premiums ........................ $ 51,032 $ 44,536 Property Taxes ................................. 246,000 228,000 Interest Revenue ............................... 228,286 149,719 TOTAL OPERATING REVENUE ........... $ 525,318 $ 422,255 OPERATING EXPENSES: Benefit Payments ............................... $ 283,383 $ 314,066 Administrative and General 7,265 2,770 TOTAL''OPERATING EXPENSES ......................... $ 290,648 $ NET INCOME(LOSS) ................................. $ 234,670 $ 105,419, RETAINED EARNINGS, JANUARY 1 ..................... $ 2,430,896 $ 2,325,477 RETAINED EARNINGS, DECEMBER 31 ,z.....•.,,......... $ 2,665,566 S 2,430,896' 92 City of Renton 1993 CAFR FIREMEN'S PENSION TRUST FUND Page 1 of 1 COMPARATIVE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 With Comparative Totals for Year Ended December 31, 1992 1993 1992 CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Taxes on Fire Insurance Premiums .......... S 51,032 $ 44,536 Cash Received From Property Taxes ............................ 246,000 $ 228,000 Cash Paid to Suppliers for Goods and Services ................ (4,640) (300) Cash Paid to Other Funds for Goods and Services .............. (2,669) (2,426) Cash Paid to Retirees ........................................ (283,383) (314,066) Interest Revenue 240,928 156,433 . .. .... Y 24?.268 3 1;:.12,177 NET:CASN PR01l:I.QEQ.(USED) BY:OPERATNG AG1:VITIE$ .:.: ..... Ir CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Proceeds From Interfund Loans S (95,000) S 0 NET CASN PROVIDED ;(USED) BY'NONCAPITAL FINANCING:ACTIV11:1ES CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ $ 306,342 S 56,966 Payments for Investments ..................................... (262,994) (68,540) .NET CASH PR0V, 0ED. (U*SED) BY'INVEST'ING ACTIVITIES':'.............. $ 43;348 $1 (11,574) NET"'INCREASE..LDECR EASE') IN CASH AND CASH''EQUIVALENTS ........... $ 195,616 S 1.00,603 W CASH AND CASH`EQUIVA€ENTS, JANUARY 1 295,818 195,215 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 491,434 $' 295,$18. CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 491,434 $ 295,818 TOTAL CASH AT THE END OF THE YEAR ......................... $ RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ 234,670 $ 105,419 Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: (Increase) Decrease in Interest on Investments ............. 13,299 6,714 (Increase) Decrease in Due From Other Funds ................ (657) 0 Increase (Decrease) in Vouchers Payable .................... (44) 44 Total Adjustments ...................................... $ 12,598 $ 6,758 NET CASH';PROVIDED,(USED) RY OPERATING'ACTIVITIES .............. S 247,268 93 City of Renton 1993 CAFR COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Page 1 of 1 ALL AGENCY FUNDS YEAR ENDED DECEMBER 31, 1993 BALANCE BALANCE 1/01/93 ADDITIONS DEDUCTIONS 12/31/93 ASSETS Cash and Cash Equivalents S- 309,965 $ 118,301 $ 126,803 S 301,463 Due From Other Funds 0 0 0 0 TOTAL ASSETS S 309,965 $ 118,301 $ 126,803 $ 301,463 LIABILITIES Vouchers Payable $ 0 $ 101,384 $ 99,184 $ 2,200 Deposits Payable 309,965 121,302 132,003 299,264 TOTAL LIABILITIES $ 309,965 $ 222,686 $ 231,187 $ 301,464 X. ADVANCE TRAVEL F.UND, >:;;: ASSETS Cash and Cash Equivalents S 3,634 $ 366 $ 0 $ 4,000 Accounts Receivable 366 0 366 0 TOTAL ASSETS $ 4,000 $ 366 $ 366 $ 4,000 LIABILITIES Vouchers Payable S 0 $ 0 $ 0 $ 0 Advances From Other Funds 4,000 0 0 4,000 TOTAL LIABILITIES $ 4,000 $ 0 $ 0 $ 4,000 FLEXIBLE''BENEF ..............:::..... ASSETS Cash and Cash Equivalents $ 11,441 $ 62,509 $ 72,115 $ 1,835 Due From Other Funds 2,893 0 2,893 TOTAL ASSETS $ 11,441 $ 65,402 $ 72,115 $ 4,728 LIABILITIES Vouchers Payable $ 3,132 $ 65,399 $ 64,195 $ 4,336 Deposits Payable 8,309 65,402 73,320 391 TOTAL LIABILITIES $ 11,441 $ 130,801 $ 137,515 $ 4,727 DEFERRED'iCOMPENSATI0N ; UNQ ... ASSETS Other External Trusts $ 0 $ 13,243 $ 0 $ 13,243 ' Deferred Compensation Plan Assets 3,439,581 1,007,124 0 4,446,705 TOTAL ASSETS $3,439,581 $ 1,020,367 $ 0 $4,459,948 LIABILITIES Deferred Compensation Payable $3,439,581 $ 1,020,367 $ 0 $4,459,948 :TOTAL ALL AGENCY FUNDS ASSETS Cash and Cash Equivalents $ 325,040 $ 181,176 $ 198,918 $ 307,298 Other External Trusts 0 13,243 0 13,243 Deferred Compensation Plan Assets 3,439,581 1,007,124 0 4,446,705 Accounts Receivable 366 0 366 0 ' Due From Other Funds 0 2,893 0 2,893 TOTAL ASSETS $3,764,987 $ 1,204,436 $ 199,284 $4,770,139 LIABILITIES ' Vouchers Payable $ 3,132 $ 166,783 $ 163,379 $ 6,536 Deposits Payable 318,274 186,704 205,323 299,655 Deferred Compensation Payable 3,439,581 1,020,367 0 4,459,948 Advances From Other Funds 4,000 0 0 4,000 TOTAL LIABILITIES $3,764,987 $ 1,373,854 $ 368,702 $4,770,139 94 City of Renton 1993 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. ! ! 95 City of Renton 1993 CAFR Page 1 of 1 � GENERAL FIXED ASSETS ACCOUNT GROUP COMPARATIVE BALANCE SHEET DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 1993 1992 ASSETS: $ 846,596 $ 646,906 Investment in Joint Venture Fixed Assets (Net) ..................................... 53,179,6152, ,447 rr ,. 4,379 4111 112222,393 Construction In Progress $.53,1'388 746;; TOTAL'>sASSETS ............r'>...... ..... r Other Credits: $ 0 S 461,222 Investment in Joint Venture Assets __ $ 58,405,617 $ 52,927,524 investments in General Fixed Assets .. .. $ 58,405,617 $ 53,388;746:: 96 Cny of Renton 1993 CAFR SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE Page 1 of 1 DECEMBER 31, 1993 GENERAL'>;FIXED''ASSET9 ;i Land S 13,825,812 Buildings 19,419,255 Improvements Other Than Buildings 13,740,738 m Machinery and Equipment 6,193,805 Construction Work in Progress 4,379,411 DOTAL GENERAL Fi17XEQ.ASSE.TS $ 57,559,021 ;INVESTMENT IW.4ENERAL ;,FIXEU A.SSBTS FROM: General Obligation Bonds $ 21,803,777 Federal Grants 6,401,182 State Grants 1,609,016 County Grants 5,356,335 General Revenues 20,087,328 Donations 2,301,383 TOTAL INVESTM.E.N:F IN:GENERAI. FIXEp.gSSET S 57,559,021 97 City of Renton 1993 CAFR r SCHEDULE OF GENERAL FIXED ASSETS Page 1 of 1 BY FUNCTION AND ACTIVITY AS OF DECEMBER 31, 1993 .r IMPROVEMENTS MACHINERY CONSTRUCT OTHER THAN AND MONK II# FUNCTION TOTAL LAND BUILDINGS:: BUILDINGS EQUIPMENT PROGRESS General Goverment $ 5,797,755 $ 1,376,171 $ 2,219,892 $ 188,277 $1,861,921 $ 151,494 nm Security of Persons/Property 4,141,629 261,249 844,552 174,763 2,861,065 0 Physical Environment 3,819,309 0 2,751,874 743,383 324,052 0 Transportation 1,102,270 759,563 118,218 0 224,489 0 Economic Environment 2,049,210 472,016 1,294,221 9,702 273,271 0 Culture and Recreation 40,648,848 10,956,813 12,190,498 12,624,613 649,007 4,227,917 TOTAL GENERAL FIXED ASSETS $57,559,021 $13,825;812 $ 19,4191255 3 13;740,738: $6,:193,8Q5 St 4,379,411.:;:; 1 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY YEAR ENDED DECEMBER 31, 1992 a GENERAL GENERAL FIXED ASSETS FIXED ASSETS s FUNCTION 1/01/93 INCREASES DECREASES 12/31/93,, > General Government $ 5,556,448 $ 273,658 $ 34,217 $ 5,795,889 Security of Persons/Property 4,006,701 212,833 58,015 4,161,519 Physical Environment 3,820,563 48,512 129,197 3,739,878 Transportation 1,046,916 125,307 8,505 1,163,718 Economic Environment 1,972,574 91,378 18,930 2,045,022 Culture and Recreation 36,338,638 4,385,468 71,111 40,652,995 TOTAL GENERAL FIXED ASSETS $52,741,840 $ 5,137559,Ll2.E.;:: 98 w City of Renton 1993 CAFR w 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 w 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. w w i Ir w w • City of Renton 1993 CAFR GENERAL LONG TERM DEBT ACCOUNT GROUP Page 1 of 1 • COMPARATIVE BALANCE SHEET DECEMBER 31, 1993 With Comparative Totals for December 31, 1992 1993 1992 • ASSETS: Available in Debt Service & Capital Project Funds. $ 4,481,031 $ 4,283,477 Amount To Be Provided Long Term Debt Retirement 22,289,274 24,671,934 • TOTAL ASSETS.................. E 26,770,'305 S28,955411 LIABILITIES: General Obligation Bonds Payable ............... $17,225,T75 $17,363,397 - Special Assessment Bonds Payable ............... 5,467,063 7,584,000 Accrued Employee Leave Benefits ................ 3,228,775 3,063,307 Installment Purchase Contracts ................. 448,603 613,712 Arbitrage Rebate Tax Payable ................... 400,089 330,995 TOTAL LIABILITIES S 26,770,305 $`28,955,411' ~ r • • • • s • • • • 100 • r.. City of Renton 1993 CAFR in to No Ir 1993 Annual Financial Report bw Statistical Section ft r i. 1 1 1 1 1 1 Ini City of Renton 1993 CAFR • TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUN Page 1 of 2 INCLUDING CHANGES IN FUND BALANCES - LAST TEN FISCAL YEARS, FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS • Ten Year General Governmental Revenue Trends .r M i - — $43.2 $45 $41.2 I S37 • i $40 o n $35 $29.7 s $26.9 $25,g $27.9 \' i $30-- ti $25 0 521 521 6 r. f � '; 4 $20-/ o $15- $10-- a 15S10 a ` Al S5 s $0-zsM 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 DESCRIPTION 1984 1985 1986' 158 REVENUES Taxes $ 12,976,666 $ 16,015,551 $ 17,639,615 $ 19,265,841 Licenses and Permits 663,256 842,979 828,563 810,094 Intergovernmental Revenues 3,519,090 3,231,409 3,317,946 2,251,938 Charges for Services 2,519,415 403,409 (a) 410,020 446,948 Fines and Forfeits 462,651 489,276 670,817 626,088 • Interfund Revenues 0 0 0 0 Miscellaneous 896,515 629,918 4,043,930 2,417,406 TOTAL REVENUES $ 21,037,593 $ 21,612,542 $ 26,910;891 $ 25,818,315 s EXPENDITURES General Government $ 2,933,863 $ 3,313,316 $ 3,527,007 $ 3,413,832 Security of Persons and Property 6,807,258 7,576,703 8,375,821 8,630,732 • Physical Environment 2,417,624 747,963 (a) 820,107 853,691 Transportation 2,281,660 2,393,303 2,987,935 3,068,765 Economic Environment 1,001,026 1,118,401 1,376,506 1,344,017 Mental and Physical Health 48,989 76,437 201,819 200,747 • Culture and Recreation 2,179,142 2,409,529 2,549,418 2,644,631 Capital Outlay 737,043 327,257 495,403 562,915 Debt Service 1,553,018 1,572,453 4,908,326 4,108,275 TOTAL EXPENDITURES $ 19,959,623 8 19,535,362 $ 25,242,342 $ 24,827,605 Other Increases (Decreases) (514,145) (2,127,956) (741,968) (524,062) ' Transfer In/Out, Prior Period Correction 0 0 0 0 FUND BALANCE, JANUARY 1 3,616,248 4,180,073 5,771,636 (b) 6,698,217 ' FUND BALANCE, DECEMSER:31 $ 4,180;473 .< 4,1;2:9,297a4,865'i. Source: City of Renton Finance Department. (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. • 102 City of Renton 1993 CAFR Page 2 of 2 Ten Year General Governmental Fund Balance Trends $14.6 M $15 i $14 S1 $13 $12 " $11 0 n $8. A $10 s $9 56.2 $6.4 $8 0 $5.7 $5.8 45 $7 f , $6 34. $5 D 54 x All $3 S2 a $1 t 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1988 Y989 1990 1991 1992 '' 1993 $ 19,911,366 $ 21,587,371 $ 24,788,886 $ 27,169,161 $ 32,869,130 $ 31,204,165 717,366 691,646 853,258 1,156,779 1,258,803 1,145,967 2,363,848 2,276,308 3,083,320 2,948,562 2,892,682 4,297,932 530,318 1,277,780 1,290,486 2,099,067 1,610,795 1,437,069 653,326 650,059 742,446 803,176 884,692 881,016 0 0 0 0 0 0 3,968,222 3,211,659 2,808,531 3,232,891 3,684,479 2,249,836 $ 28,144,446 $ 29,694,823 $ 33,566,927 $ 37,409,636 $ 43,200,581 $ 41,215,985 $ 3,896,716 $ 4,548,894 $ 5,658,870 $ 5,045,540 $ 5,607,839 $ 5,258,009 9,448,293 10,414,800 11,313,885 12,324,533 13,551,649 15,654,019 970,075 990,521 790,466 976,822 1,157,112 1,163,369 3,352,152 3,294,786 3,387,188 2,819,625 3,074,076 2,937,977 1,480,498 2,641,202 3,097,543 3,176,411 2,893,077 3,155,164 202,528 8,485 8,892 10,601 229,013 8,983 2,764,356 3,254,427 3,573,006 4,026,495 4,291,090 4,603,052 427,639 607,810 1,342,056 541,075 4,793,884 549,412 3,952,989 4,678,024 4,303,048 4,270,821 3,947,606 3,554,238 $ 26,495,246 $ 30,438,949 $ 33,474,954 $ 33,191,923 $ 39,545,346 $ 36,884,223 (1,162,606) (154,777) 213,592 (1,094,487) (357,401) (1,831,265) aw 0 0 0 0 0 106,593 7,164,865 6,657,894 5,758,991 6,064,556 8,726,560 12,024,394 S >7,651459 S> 5.758;991 $ 6,064,556 8 9,1'87.782' $ 12;024,39.4 $ 14,631;484r L L 103 City of Renton 1993 CAFR TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECT Page 1 of 2 LAST TEN FISCAL YEARS ' Ten Year Assessed Valuation Trends B $3.4 i $3.5 $3.1 $3.1 , i $3.0 0 $2.4 $2.3 n $2.5 1$2.1 g S2 31.9 51.9 $2.0-/$1.8 0 f 51.5 D $1.0-- a $0.5 r s $0.0 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 ::>:>>::»>:»::::<::>::.E X;X::.;:.;:.;:.;:.;:.;: �:��.::::::::::::::::::.:::............................ ASSESSED VALUE DECEMBER 31: Real Property Value $ 1,316,618,491 $ 1,428,344,874 $ 1,404,265,400 $ 1,548,554,808 Personal Property Value 456,400,663 441,326,537 452,682,766 419,320,421 .................::::.....:.......:............:......:.... CITY AND OVERLAPPING TAX RATES: (a) will City of Renton: General Levy $ 2.48141 S 2.66666 $ 3. $ 3.25902 Special Lev 0.24621..................:::::::0.408:1:90.4465016501 0.71314 Cit of Renton. SpeY E3e�tta496 notaf _ S 7 6 5. . King County 1.54780 1.56652 1.73270 1.83959 Port of Seattle 0.36460 0.37786 0.40091 0.40813 Hospital District #1 0.25201 0.27673 0.26308 0.23723 Renton School District #403 1.35641 2.24799 1.45005 2.28851 State of Washington 3.31752 3.54076 3.69881 3.78389 Emergency Medical Services 0.13904 0.14372 0.25000 0.25000 9 :::::::::...::.....::...:..::.:..... :: ::::::..::.:::::::::: ::::::::::::::.. :: . ..::::. .......,::::::::... 3:1... 24 :::::5.:.::::::::::::1:2, . 9.:.::;: T�3TAL;;Pq €? CY .................. PROPERTY TAX LEVIES AND COLLECTIONS: LEVY: Original $ 4,802,004 $ 5,740,358 $ 6,450,054 $ 7,755,547 Adjusted $ 4,732,016 $ 5,717,243 $ 6,447,924 $ 7,749,926 COLLECTIONS: ,901 Current Collections $ 4,571,517 $ 5,473,674 $ 6,236,094 $ 7,49 . Percent of Adjusted Levy 96.61% 95.74% 96.71% 96.66% 66 .r. Delinquent uent Collections $ 107,213 $ 115,346 $ 164,375 $ 210,915 ::>::::> - • E3 : tI E. C'fl�}t�::€J�::CE#E�E�iV ..... ..............::......... PERCENT OF ADJUSTED LEVY 98.87% 97.76% 99.26% 99.38% s:>. 332,608 OUTSTANDING DELINQUENT TAXES $ 201,336 $ 274,704 $ 322,811 $ PERCENT OF DELINQUENT TAXES TO ADJUSTED L 4.25% 4.80% 5.01% 4.29% Source: King County Department of Assessments. (a) Property tax rates are in dollars per $1,000 of taxable property valued at 100%. 104 City of Renton 1993 CAFR Page 2 of 2 Property Tax Allocation Schools 28.4% Hospital 1.2% Port 2.2°x6 '0 t � k F mw State 24.1% County 15.6% EMS 1.7% Renton 26.7% ar 369::::::::::::.::........:.:::::.. :.;;:.;:.;:.73. +� $ 1,579,510,236 $ 1,804,228,971 $ 1,864,385,958 $ 2,425,865,552 $ 2,466,868,427 $ 2,730,285,285 477,638,324 482,499,763 556,894,507 620,506,587 664,964,302 699,080,839 ?F S ;3s6i321: : >:;> ::: 3>$ 2. :9 � 2C3r3k"aS3 �k s $ 3.48761 $ 3.41746 $ 3.55659 $ 3.09203 $ 3.28917 $ 3.23416 0.40764 0.34177 0.54768 0.50609 0.40324 0.41577 3:7 :.>:.;:. .;::::::::::::.;:.;!>:€:0 E 7...;:. ....: ...: :.:.;. :::::::::.::.;:.;:.;:.. .... .; ... ................::. :....::::.:.:......: .��9#1 i 2 ............:...3 69 E $ 364 3. 1.89387 1.96262 2.05464 1.73030 1.79973 2.14039 0.43275 0.42940 0.45367 0.32332 0.34421 0.30518 0.23166 0.21891 0.21743 0.17485 0.17781 0.16238 2.02323 2.41016 2.43657 2.07349 2.13257 3.89165 3.84221 3.74197 4.04611 3.38348 3.54132 3.30069 0.25000 0.24829 0.25000 0.19911 0.25000 0.23942 :::::1.. .. F .58.::::: ..:::: . .. ::.::.::::: . :.: .. . ... _._,... :.:: .3.659,_ 1 ..r#8 .. ._ $ 7,962,899 $ 8,621,313 $ 9,951,295 $ 10,959,734 $ 11,507,994 $ 12,436,268 $ 7,965,967 $ 8,594,394 $ 9,968,237 $ 10,763,298 $ 11,408,258 $ 12,331,892 r $ 7,705,961 $ 8,347,835 $ 9,748,293 $ 10,455,653 $ 11,194,251 $ 11,447,085 96.74% 97.13% 97.79% 97.14% 98.12% 92.83% $ 195,246 $ 204,613 $ 222,135 $ 204,311 $ 284,769 $ 194,799 7... .... .....6 x + : .: :; 9 9 0 42 ;::: :::::>:::::7fl 669�J84 :...: 1 , 5:02f3 1 E 641 8,94 r 99.19% 99.51% 100.02% 99.04% 100.62% 94.40% $ 396,145 $ 343,787 $ 341,596 $ 444,930 $ 374,168 $ 572,274 4.97% 4.00% 3.43% 4.13% 3.28% 4.64% r '� 105 City of Renton 1993 CAFR TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS Ten Year Per Calita Net Bonded Debt Trends $soo 5611 $588--T- -/ 588 I$570 $600 3509 TV, y4-. 5499 $494 $482 546 r q $400-/ z� b dt r A a , $200-/ SO 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 DEBT SERVICE NET RATIO OF NET NET BONDED FISCAL ASSESSED GROSS FUNDS BONDED BONDED DEBT TO DEBT' YEAR POPULATION VALUE BC#�tDED DEBT AVAILABLE DEBT '. ASSESSED;:VALUE: PER CAPITA: 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 1993 43,470 3,429,366,124 22,258,603 1,288,208 20,970,395 0.61% 482 Source: State of Washington Office of Program Planning and Fiscal Management, King County Department of Assessments, and City of Renton Finance Department. 106 City of Renton 1993 CAFR TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS LAST TEN FISCAL YEARS Special Assessment Billings and Collections 210% 180% 164.8% 1a8% 150%-/ 1381% 1% 1200% 100.6%1001% k .3% s. 65% 90%-/131 + A € 60%-/ �. y .w4= 30% rte' 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 w� ASSESSMENTS COLLECTION ASSESSMENTS FISCAL; RECEIVABLE ADDITIONAL ASSESSMENT ------------ COLLECTION - AS A /o RECEIVABLE YEA 1'/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 12/31 1984 61107,887 7,557,364 2,286,276 1,416,038 883,288 2,299,326 100.57% 12,249,213 1985 12,249,213 54,691 4,211,375 2,757,963 1,457,678 4,215,641 100.10% 9,545,941 r 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 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 1992 5,756,160 0 1,284,581 1,739,087 675,531 2,414,618 187.97% 3,876,542 1993 3,876,542 1,654,063 737,439 592,131 441,136 1,033,267 140.12% 5,110,162 Source: City of Renton Finance Department. 107 City of Renton 1993 CAFR Ir' TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES AS OF DECEMBER 31, 1993, AND ALL DEBT CAPACITIES - LAST TEN FISCAL YEARS TPn Year Debf Cooacl4y Trends ' M � 860 $54.8 $54.4 I $49.3 $47.6 O n $36. s $40 $35.5 $341 335.5 $32.4332 0Excess Levy f (Voted) D 0 $20 I S13.6 $13. $11.2 $9.6 $10 $1 1.5 a $5.3 ouncilmanic r 82.3 ,'53.3' 50.6 (Non-Voted) s $0-- 1984 O- 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 GENERAL CAPACITY SPECIAL PURPOSE CAPACITY PARKS AND UTILITY TOTAL DESCRIPTION COUNCILMANIC EXCESS LEVY OPEN SPADE PUflPOSES CAPACITY' ASSESSED VALUE (1994): $3,407,827,283 2.50% of Assessed Value $ N/A $ 85,195,682 $ 85,195,682 $ 85,195,682 $ 255,587,046 0.75% of 1% of Assessed Value 25,558,705 (25,558,705) N/A N/A 0 STATUTORY DEBT LIMIT $ 25,558,705:.::*0:.. .59;63 :3 7> General Obligation Bonds $ 11,620,000 $ 5,530,000 $ 4,660,000 $ 0 $ 21,810,000 Installment Contracts (a) 448,603 0 0 0 448,603 TOTAL DEBT OUTSTANDING $ 12,068,603 $ 5,530,000 $ 4,660,000 $ 0 $ 22 25%603:;: Less Amount Available in Debt Service Funds $ 357,359 $ 331,731 $ 586,592 $ 0 $ 1,275,682 NET DEBT OUTSTANDING $ 11,711,244 $ 5,198,269 $ 4,073,408 $ 0 $ 20,982,921 REMAINING DEBT CAPACITY S 13,847,461 $ 54,438,708 $ 81,122,274 $ 85,195,682 $ 234,604,125 Source: King County Department of Assessments. City of Renton Finance Department. (a) Statutory limit = .75%of 1% of assessed value. 108 City of Renton 1993 CAFR TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT - DECEMBER 31, 1993 M City of Renton Direct and Overlapping Debt i I I i $80 Renton $22.3 n s $60 Hospital $1.0 0 County $18.1 f $40 Port $.619 D Hospital $37.7 0 I $20 I a r so-/ Ali s PERCENTAGEAMOUNT NET DEBT APPLICABLE APPLICABLE JURISDICTION OUTSTANDING TO RENTON TO RENTON NET DIRECT DEBT: City of Renton $22,258,603 100.00% $22,258,603 OVERLAPPING DEBT: King County $622,466,417 2.90% $18,051,526 Port of Seattle 21,354,634 2.90% $619,284 Renton School District #403 69,089,469 54.49% $37,646,852 Hospital District#1 4,387,871 23.62% $1,036,415 TOTAL DIRECT AND OVERLAPPING DEBT $739,556;994 1.Q 76% $791612,68E: Source: King County Department of Finance. 109 City of Renton/993 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% 9.45% 9.22 9% .97% r -65%.46% 6Z 65%,46% �/ .52% 7% 6% �/% 3% 0% 84 85 86 87 88 89 90 91 92 93 (b);,, TOTAL GENERAL RATIO OF DEBT FISCAL (a) (a) TOTAL GOVERNMENTAL SERVICE TO YEAR PRINCIPAL INTEREST DEBT SERVICE EXPEND(-t.0ES EXPENDITURES 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 2,504,767 26,495,246 9.45% , 1989 752,670 1,163,653 2,545,997 30,438,949 8.36% 1990 843,440 1,699,597 3,085,244 33,474,954 9.22% 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% 1993 1,276,160 1,304,215 2,580,375 36,884,223 7.00% (a) Principal and Interest are based on total GO Bond debt payments made in 1993. The actual payments were made from several funds including; debt service, enterprise, and internal services. (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 110 City of Renton 1993 CAFR TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND AIRPORT BONDS LAST TEN FISCAL YEARS Water/Sewer Revenue Bond Airport Revenue Bond Debt Service Coverage Debt Service Coverage 4 3.51 7.23 8 6.6 .9415.8 3_z .78 .63 6 28 .32 .36 4.5 1.95 .0600/ %� 7 4.0 4.023 11 2 3.41 4 2.81 1 1.4 2 J 0 ". 0 7 84 85 86 87 88 89 90 91 92 93 84 85 86 87 88 89 90 91 92 93 (a) OPERATING NET REVENUE AVERAGE ANNUAL FISCAL GROSS EXPENSES AVAILABLE FOR --DEBT SERVICE REQUIREMENTS-- (b) YEAR x: REVENUE WJO DEPREC DEST<SERVICE PRINCIPAL: INTEREST TOTAL COVERAGE: WATER AND SEWER REVENUE BONDS: 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 1993 16,809,047 10,478,147 6,330,900 1,250,000 1,429,581 2,679,581 2.36 AIRPORT REVENUE BONDS: 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 1993 662,819 295,073 367,746 50,000 873 50,873 7.23 (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. III City of Renton 1993 CAFR TABLE 9: CITY OF RENTON 1991, 1992, AND 1993 RETAIL SALES BY SOURCE Changing Sales Tax Composition (1991 vs 1993) t.s , Auto 0.6% Services 2.5% Construction .4 General Retailing Wholesale 0.6 Food and Restaurants 2.3% Manufacturing o.e Transportation/Utilities L_0.1 Finance I -o.2�b Other -4% -2% 0% 2% 4% 1991 1992 1993 SOURCE AMOUNT % AMOUNT % AMOUNT % Auto Dealers $216,493,853 20.2% $203,162,657 18.7% $218,894,515 18.6% Services 205,344,625 19.2% 219,756,164 20.2% 232,333,025 19.8% Construction 165,891,153 15.5% 165,021,967 15.2% 211,846,765 18.0% General Retailing 173,571,056 16.2% 173,849,279 16.0% 150,573,350 12.8% Wholesale 108,917,193 10.2% 101,766,928 9.3% 133,942,546 11.4% Food and Restaurants 88,251,688 8.2% 89,099,772 8.2% 89,352,835 7.6% Manufacturing 53,115,356 5.0% 81,873,770 7.5% 85,554,946 7.3% , Transportation/Utilities 42,604,599 4.0% 42,214,037 3.9% 38,097,334 3.26% Finance 9,283,700 0.9% 9,800,944 0.9% 9,456,323 0.8% Other 7,133,862 0.7% 2,138,220 0.2% 5,328,483 0.5% TOTALS $1.070.60..7'085..,,100 0% ::$1,088,683,738 10o.0�Jo $#:;1: 5.380;122 .,'#00.0% Source: City of Renton Finance Department 112 I City of Renton 1993 CAFR TABLE 10: LARGEST TAXPAYERS BASED ON ASSESSED VALUATION AND PRINCIPAL EMPLOYERS 1993 REAL PROPERTY PERCENT 4F ........................................ 1W ASSESSED : AS$E ^@ TAXPAYER TYPE'OF BUSINESS VALUATION VALUATEON The Boeing Company Aerospace &Computer Services $ 440,371,400 12.84% Safeway Grocery Store 5,246,000 0.15% Renton Village Shopping Center 9,666,800 0.28% Renton Talbot Delaware Inc. Property Development 42,622,100 1.24% Puget Sound Power& Light Electic Utility 18,164,409 0.53% L-O Renton Inc. Property Development 35,432,300 1.03% PACCAR Heavy Manufacturing 49,069,800 1.43% Lincoln Properties Property Development 11,267,600 0.33% Sunpointe Associates Ltd. Property Development 19,367,200 0.56% First City Washington, Inc. Property Development 17,797,300 0.52% Total Assessed Valuation- Largest Taxpayers $ 649,004,909 18.92% Total Assessed Valuation-All Others 2,780,361,215 81.08% Tq aGAssessed V: .al..alaan 5. 3,429,366,1244 100.00% low 1993 NUMBER OF PERCENT OF PRINCIPAL,EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES The Boeing Company Aerospace & Computer Services 17,800 62.06% Valley Medical Center Medical Services 1,737 6.06% Pacific Car & Foundry Heavy Manufacturing 1,200 4.18% Renton School District Public Education 875 3.05% Federal Aviation Administratio Federal Government 779 2.72% City of Renton City Government 541 1.89% Group Health Cooperative Medical Services 497 1.73% Sound Ford Automobile Dealership 216 0.75% Puget Sound Power& Light Electric Utility 201 0.70% Container Corporation Paper Products 198 0.69% Total Number of Employees-Principal Employers 24,044 83.83% Total Number of Employees-All Other Employers 4,639 16.17% Total Employees Working Within Renton; 2$,683 100.00°/0 Sourc Assessed Valuation: King County Department of Assessments. Number of Employees: City of Renton Business License Records. 113 City of Renton 1993 CAFR TABLE 1 1: CONSTRUCTION AND BANK DEPOSITS - LAST TEN FISCAL YEARS Ten Year Construction Permit Valuation Trend M i I $240 ' I _s21o.5 $210 o $17 .9 n $180-/ $150.8 S $150-/ $ 116. f $120-/ 5104.2 00.2 4 $90- 2 0 , � $60 I I $30 a r $0 S 84 85 86 87 88 89 90 91 92 93 COMMERCIAL RESIDENTIAL OTHER CONSTRUCTION CONSTRUCTION CONSTRUCTION FISCAL NO. OF DOLLAR NOI'OF DOLLAR NO. OF DOLLAR TOTAL CONSTRUCTION BANK YEAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE DEPOSITS 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 3,815 100,199,678 660,210,406 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 1993 469 28,616,096 1 141 8,136,327 2,954 61,633,205 3,564 98,385,628 N/A Source: Construction permits and values-City of Renton Building Department. Bank Deposits-Greater Renton Chamber of Commerce. 114 City of Renton 1993 CAFR TABLE 12: DEMOGRAPHIC STATISTICS - LAST TEN FISCAL YEARS P Ten Year Population Trends 0 P U I t 50- i 43 43.1 43.5 0 38.5-39.3 n 40 35.4 36.9 33.3 34 34.5 i n 30 T h 20 0 U S 10 a n d 0 s 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 PER FISCAL CAPITA MEDIAN SCHOOL UNEMPLOYMENT YEAR POPULATION INCOME AGE ENROLLMENT RATE 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% 1993 43,470 N/A N/A 11,988 6.30% 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 Secuhly, Labor Market and Economic Analysis Department. City of Renton 1993 CAFR TABLE 13: MISCELLANEOUS STATISTICS WASHINGTON STATE British Columbia QQ o0 Everett p ®Seattle Spokanee 'Renton Idaho 0Olympia 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.......................................................................16.6 Square Miles Miles of Streets and alleys................................................................190.07 RANK IN SIZE-STATE OF WASHINGTON..............................................11 RANK IN SIZE-KING COUNTY...................................................................4 UTILITY SERVICES POPULATION(Official April,1993)......................................................43,470 Water: ASSESSED VALUATION.........................................................3,429,366,124 Total Customers...............................................................................12,472 CITY EMPLOYEES(Full Time Equivalents/FTE)..................................540.7 Total Gallons of Water Produced.........................................2,326,870,000 Number of Fire Hydrants....................................................................2,273 Miles of Water Main..........................................................................224.63 ELECTION&VOTER REGISTRATION Number of Precincts................................................................................66 Sanitary Sewer: Number of Registered Voters...........................................................22,185 Total Customers...............................................................................10,319 FIRE PROTECTION Fire Rating(Washington Survey and Rating Bureau)...............................4 Storm Drainage: Number of Commissioned Fire Fighting Personnel..............................109 Number of Accounts.........................................................................10,916 Number of Stations...................................................................................3 Miles of Storm Sewers......................................................................165.44 ' Total Fire Loss..........................................................................$1,231,300 Number of Life Support Responses...................................................4,778 LICENSE&PERMITS AllOther Responses..........................................................................2,185 Business Licenses..............................................................................2,860 Total Number of Responses..............................................................6,963 Amusement and Special Permits..........................................................325 Animal Licenses(Dog and Cat)........................................:................3,426 POLICE PROTECTION Number of Commissioned Police Personnel..........................................79 AIRPORT Number of Calls for Services...........................................................42,568 Area in acres....................................................................................167.21 Total Crimes Reported(Class 1,II,III)..............................................10,282 Feet of Asphaltic Concrete Runway...................................................5,379 Traffic Accidents Investigated............................................................1,648 Total Operations.............................................................................116,687 All Other Traffic Violations..................................................................8,387 LIBRARY PARKS&RECREATION Libraries(Main and Highlands Branch).....................................................2 Total Acreage...................................................................................645.74 Total Registered Borrowers................................................................9,982 Number of Parks and Playgrounds.........................................................26 Total Circulation..............................................................................281,647 116 r r r Staff who contributed their time and talents on this project are James Block, Enola Christian, Sherri Crawford, Linda Dixon, Tracy Forler, Paula Henderson, Carol Hensley, Linda Honeycutt, Marji Mar, Hugh Simpson, Debbie Willard, and r Lori Wood. Software used to create the final product includes Lotus 1-2-3, Allways, Microsoft Word for Windows 2.0 and 6.0, and Micrografx Charisma, all operating under Windows 3.1. ,. The document was produced and printed in-house using an HP Laserjet IV printer and a Kodak Ektaprint 235 copier. Thank you to all who contributed to the CAFR. Victoria Runkle r