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City of Renton, Washington �0�*��
Comprehensive Annual Financial Report
For the year ended December 31, 1999
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OFFICE OF THE CITY CLERK
Renton Municipal Bldg.
1055 South Grady Way
Renton, WA 98055
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City of Renton
1999
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended December 31, 1499
Victoria A. Runkle
Finance & Information Services Administrator
1055 South Grady Way
Renton, Washington 98055
(425) 430-6858
Website: www.ci.renton.wa.us
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Acknowledgements
Prepared by the City of Renton Finance Division
Finance & Information Services Administrator
Victoria A. Runkle
Fiscal Services Director
Paul Kusakabe
Financial Accountant
Gina L. Jarvis
Accounting Staff
Lisa Zurhorst - Fixed Assets
Linda Dixon -Statistical Section
Administrative Secretary II
DeAnna Fricke
Print & Mail Coordinator ,r
Debbie Willard
Cover/Divider Design
Bob Dunn, Cat's Eye Group
Renton, Washington '
(425) 430-9637
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CITY OF RENTON, WASHINGTON
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TABLE OF CONTENTS
+■ DECEMBER 31, 1999
ITEM PAGE
INTRODUCTORY SECTION
Letterof Transmittal ........................................................................................................................... 1
1998 Comprehensive Annual Financial Report Award.............................................................. 16
r City Organization Structure & Reporting Relations..................................................................... 17
FINANCIAL SECTION
r.r Independent Auditor's Report........................................................................................................ 19
Combined Financial Statements - Overview(General Purpose Financial Statements)
Combined Balance Sheet- All Fund Types and Account Groups........................................22
Combined Statement of Revenues, Expenditures and Changes in Fund
Balances for All Governmental Fund Types.........................................................................24
Combined Statement of Revenues, Expenditures and Changes in Fund Balances
�r. Budget and Actual..................................................................................................................25
Combined Statement of Revenues, Expenses and Changes in Fund
Equity-All Proprietary Fund Types.........................................................................................29
Combined Statement of Cash Flows-All Proprietary Fund Types........................................30
Firemen's Pension Trust Fund Statement of Changes in Plan Net Assets..............................32
Notes to Financial Statements
Note 1: Significant Accounting Policies ............................................................................33
ReportingEntity....................................................................................................33
Basis of Presentation - Fund Accounting..........................................................33
Basisof Accounting.............................................................................................35
Budgets and Budgetary Accounting
Assets, Liabilities and Fund Equity......................................................................36
Cash and Cash Equivalents............................................................................36
Investments........................................................................................................37
Inventories .........................................................................................................37
Property Taxes Receivable..............................................................................37
■' Assessments Receivable..................................................................................38
Fixed Assets and Depreciation.......................................................................38
Accumulated Unpaid Vacation and Sick Pay.............................................39
Fund Equity- Reserves & Designations .....39
.....................................................
Direct Charges/Credits to Enterprise Funds Retained Earnings.................40
Risk Management and Risk Retention...........................................................40
+r Note 2: Stewardship, Compliance and Accountability..................................................40
Note3: Cash & Investments................................................................................................40
Note 4: Deferred Compensation........................................................................................41
�. Note 5: Receivables and Payables....................................................................................42
Note 6: Residual Equity and Operating Transfers.............................................................44
Note7: Fixed Assets..............................................................................................................45
rrrNote 8: Prepaid Items ..........................................................................................................47
Note9: Joint Venture...........................................................................................................47
Note 10: Pension Plan & Other Postemployment Benefits................................................50
PERSand LEOFF....................................................................................................50
Firemen's Pension ................................................................................................51
Note 11: Construction Commitments..................................................................................53
Note 12: Long-Term Debt and Capital Leases...................................................................54
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CITY OF RENTON,WASHINGTON
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TABLE OF CONTENTS
DECEMBER 31, 1999
ITEM PAGE
Note 13: Deferred Charges in Proprietary Funds................................................................59
Note 14: Reservations and Designations of Fund Equity...................................................59
Note 15: Segment Information for Enterprise Funds ..........................................................59
Note16: Litigation...................................................................................................................60
Note17: Risk Management...................................................................................................60
Note 18: Subsequent Events..................................................................................................62
Required Supplementary Information v
Schedule of Employer Contributions to the Firemen's Pension Plan..................................63
Combining Financial Statements and Schedules of
Individual Funds and Account Groups: Ili
General Fund:
GeneralFund Description.......................................................................................................65
Comparative Balance Sheet.................................................................................................66 ,W
Statement of Revenues, Expenditures and Changes in Fund Balance...........................67
Statement of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual ................................................................... ..............68
............................
Special Revenue Funds:
Special Revenue Fund Descriptions .......................69
CombiningBalance Sheet.....................................................................................................70
Combining Statement of Revenues, Expenditures and Changes in Fund Balances.....72
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budgetand Actual .............................................................................................................74
Debt Service Funds:
Debt Service Fund Descriptions.............................................................................................83
CombiningBalance Sheet.....................................................................................................84
Combining Statement of Revenues, Expenditures and Changes in Fund Balances.....86
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual .....88
Capital Project Funds:
Capital Project Fund Descriptions.........................................................................................95
CombiningBalance Sheet.....................................................................................................96
Combining Statement of Revenues, Expenditures and Changes in Fund Balances.....98
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budgetand Actual ........................................................................................................... 100
Enterprise Funds:
EnterpriseFund Descriptions................................................................................................. 107
Combining Balance Sheet .................................................................................... 108
Combining Statement of Revenues, Expenses and Changes in Fund Equity............... 110
Combining Statement of Cash Flows ................................................................................. 112
Internal Service Funds:
Internal Service Fund Descriptions........................................................0.............................. 117
CombiningBalance Sheet................................................................................................... 118
Combining Statement of Revenues, Expenses and Changes in Fund Equity............... 119
Combining Statement of Cash Flows ................................................................................. 120
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CITY OF RENTON,WASHINGTON
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TABLE OF CONTENTS
rr DECEMBER 31, 1999
ITEM PAGE
Fiduciary Funds:
Fiduciary Fund Descriptions.................................................................................................. 121
CombiningBalance Sheet................................................................................................... 122
rr Combining Statement of Changes in Assets and Liabilities All Agency Funds............. 124
Firemen's Pension Trust Fund-Statement of Plan Net Assets.......................................... 125
Firemen's Pension Trust Fund-Statement of Changes in Plan Net Assets..................... 126
rrr General Fixed Assets Account Group:
General Fixed Assets Account Group Description............................................................ 127
Comparative Balance Sheet............................................................................................... 128
Schedule of General Fixed Assets by Source..................................................................... 129
Schedule of General Fixed Assets by Function and Activity............................................130
Schedule of Changes in General Fixed Assets by Function and Activity...................... 130
General Long-Term Debt Account Group:
General Long-Term Debt Account Group Description .................................................... 131
Comparative Balance Sheet............................................................................................... 132
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STATISTICAL SECTION
Table 1: General Government Revenues & Expenditures- Last Ten Fiscal Years........ 134
Table 2: Assessed Value, Property Tax Rates, Levies and Collections-
LastTen Fiscal Years............................................................................................... 136
Table 3: Ratio of Net General Obligation Debt to Assessed Value
& Net Bonded Debt per Capita- Last Ten Fiscal Years.................................... 138
r' Table 4: Special Assessment Billings and Collections- Last Ten Fiscal Years................ 139
Table 5: Computation of Legal Debt Margin- December 31, 1998 ............................. 140
Table 6: Computation of Direct and Overlapping Debt- December 31,1998 ........... 141
r" Table 7: General Obligation Bonds/Expenditure Ratio- Last Ten Fiscal Years............. 142
Table 8: Revenue Bond Coverage- Last Ten Fiscal Years.............................................. 143
Table 9: Retail Sales by Source- Last Five Fiscal Years.................................................... 144
Table 10: Largest Taxpayers and Principal Employers........................................................ 145
Table 11: Construction Permits- Last Ten Fiscal Years....................................................... 146
Table 12: Demographic Statistics- Last Ten Fiscal Years................................................... 148
rrr Table 13: Miscellaneous Statistics.......................................................................................... 149
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Introductory Section
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CITY OF RENTON
..0 Finance & Information Services Department
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Jesse Tanner, Mayor Victoria A. Runkle,Administrator
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June 26, 2000
Honorable Jesse Tanner, Mayor
Members of the Renton City Council
City of Renton
1055 South Grady Way
Renton, Washington 98055
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TRANSMITTAL OF THE 1999 COMPREHENSIVE ANNUAL FINANCIAL REPORT
Dear Mayor and Council Members:
r' With this letter the Finance & Information Services Department transmits a copy of
Renton's Comprehensive Annual Financial Report for the year ending December 31,
1999. We received an unqualified audit report from the State Auditor's office for 1999.
As always, an unqualified audit report demonstrates that city employees, with the
oversight and guidance from the Finance Department, continue to regard the
management and accounting of Renton's financial and fiscal assets as one of their
highest priorities.
In general, this report describes the financial results of the City's operations and the
general financial condition as of December 31, 1999. The Comprehensive Annual
Financial Report (CAFR) has three significant uses. First, it provides taxpayers and
citizens a broad overview of the City's finances. Second, rating agencies and
interested bond buyers use this report to evaluate the City's fiscal and financial health
and creditworthiness. Finally, the CAFR is a series of audited financial statements.
These statements have all been analyzed by the State Auditor's Office to ensure the
City's funds are safeguarded and the City is expending them as they were legally
appropriated.
Introduction
The Finance and Information Services Department (FIS) is responsible for the
Management Representation of the contents of this report. FIS is charged with
responsibility for the accuracy, completeness, and fairness of presentation of
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.
r' This report must be and is prepared in accordance with the requirements of
Washington State Law RCW 43.09.230 and in conformance with Generally Accepted
Accounting Principles (GAAP). The Government Accounting Standards Board (GASB)
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CITY OF RENTON, WASHINGTON '
has established GAAP rules to compare the fiscal health and spending patterns of
various public entities to one another. By following these guidelines, we ensure the ,
report contains required elements that are clearly understood by users of detailed
financial information.
One of the first requirements is to ensure the report contains the CAFR Contents. Thus, '
the report is organized in three sections:
• The Introductory Section, which includes the Letter of Transmittal, the '
1998 Comprehensive Annual Financial Report Award, and the City's
Corporate Organization Structure and Reporting Relations. '
• The Financial Section, which includes an Independent Auditor's Report
and the Combined Financial Statements and accompanying note
disclosures, followed by the 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 results of operations for the City.
• The Statistical Section, which presents financial, economic, social and
demographic data about the City. The Statistical Section is useful in '
revealing trends that have and may continue to affect the City of
Renton.
The GASB also requires the reporting organization to define the Reporting Entity. This
report includes all City funds, account groups, agencies, boards and commissions that
are controlled by, or dependent on, the City. Control by or dependence upon the City '
was determined on the basis of authority to appoint or remove the majority of board
members; financial support including debt secured by revenue or general obligations
of the City; and obligations of the City to finance any deficits that may occur; or ,
receipt of significant subsidies from the City.
The City of Renton is a participant in a consortium known as the Valley
Communications Center. This is to provide consolidated emergency dispatch services
for the cities of Auburn, Kent, Tukwila, and Renton as owners. Many other fire, police,
and emergency operations also contract with the Center for the same services. The ,
owner cities share a portion of support to the Center, based on the numbers of service
calls provided to each entity. The Valley Communications Center is reported in the
City's financial statements as a joint venture. '
This report does not include the financial position or operational results for the Renton
Housing Authority. The City neither reviews their budget, nor is obligated to fund any of '
the deficits of the Authority.
The City of Renton is responsible for providing basic life and safety services through our '
police, fire, and building departments. The City provides a wide range of recreational
opportunities. It operates its own library system, manages two lake swimming areas,
offers classes in its community and senior centers, and provides a range of leisure
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CITY OF RENTON, WASHINGTON
activities in its 1,180 acres of active and passive parks. The City provides water to all
citizens through its own system of aquifers, wells, and from Cedar River water rights. As
an adjunct to the water system, the City collects all sewer and surface water waste
within the City, and then transports that to the region-wide treatment system. Renton
manages general maintenance and development of the city streets. It owns and
operates a golf course and airport. In general, the City of Renton is a full service city,
offering all of the services a large city has, but on a livable scale.
Governmental Structure, Economic Condition and Outlook
The City of Renton was incorporated in 1901. Located at the south end of Lake
Washington, our city borders the City of Seattle to the north. We currently have a land
area of 16.90 square miles. We have 1,180 acres of parks that includes 28 active parks.
Our estimated population as of April 2000 is 48,100.
The City of Renton has a strong Mayor form of government. The Mayor is
independently elected for a four-year term. His job is to manage and implement the
policies established by the City Council. We have a seven member Council that
b establishes policies, appropriates monies through the budget process, and adopts
local laws through ordinances. Each Council Member serves a four-year term, and
they are elected on a staggered two-year cycle. Both the Council and the Mayor are
elected on a non-partisan basis.
While the City has had a very aggressive and successful economic development
program, The Boeing Company continues to be our largest employer. As illustrated
later, the City of Renton is less dependent upon Boeing for our overall economic
health, but nonetheless, they still have a significant influence within the City. Boeing
builds the 737 and the 757 airplanes within our City limits. In 1999 they produced 346
planes at the Renton plant. The Boeing 737 Commercial Aircraft Headquarters is within
our city limits housed in a new $75 million building. Boeing also has its Customer Service
Training Center (CSTC) here in Renton. At the CSTC, The Boeing Company trains pilots
from all over the world in how to fly a Boeing aircraft in large flight simulators.
, In addition to Boeing, PACCAR also builds world famous Kenworth trucks in Renton. In
1993, PACCAR opened a new production plant just to the south of our Boeing facilities.
With the opening of this new state of the art production factory, PACCAR signaled their
strategy to expand its leadership presence to the trucking industry. In 1999 the Renton
plant produced in excess of 13,000 Kenworth trucks.
, While we are most proud of being the home of the most popular airplane in the world,
we also began - almost a decade ago - an aggressive economic development
program. Our dependence on Boeing's economic health had provided significant
economic swings in the past. Over the past years, other major businesses growing or
relocating within our boundaries includes: Wizards of the Coast, HomeGrocer.com, and
Multiple Zones. In addition to these major corporations, we have also added
significantly to our retail base with the location of an IKEA, Wal Mart, and major new
retail and food stores.
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CITY OF RENTON, WASHINGTON '
In addition to the overall employment and economic growth, we are seeing substantial
increase in our assessed valuation and housing growth. Between 1998 and 1999 our ,
overall assessed valuation grew by 1 1 percent. Further, to illustrate we have diversified
our economy, Boeing now owns only 16.87 percent of our overall assessed value. This is
17 percent lower than 1998. Thus, the overall growth in our assessed value is coming '
from other properties.
We had a total of 957 homes sold within Renton in 1999, which generated a total of ,
$2.1 million in Real Estate Excise Taxes. This fax base also includes over $75 million in the
sale of large commercial properties. During 1999, there were 25 large commercial
buildings sold. '
While total Boeing employment decreased by 2,083 employees or 9.8 percent, our total
employment decreased by only 1,017 or 2.2 percent. Clearly, our employment from all '
other employers grew by 6.7 percent or 1,230 new employees. This, again, is evidence
of our efforts to diversify our economic base.
As with the national economy, our economic base began to show signs of slowing in
late 1999. Between 1994 - 1998 we expanded our sales tax base and had sales tax
growth rates averaging 7.3 percent annually. Between 1998 and 1999 we had only a '
1.5 percent increase in that revenue source. This was primarily because we saw a
significant decline in sales tax receipts related to the building industry. All other sectors
of our economy - especially our retail sector-- grew by 3 percent or more. ,
As we enter 2000 we are seeing a great deal of constructions permits once again for
residential and commercial value. This growth will take some time to translate into '
economic growth for our city, but it will translate into growth. As illustrated in our major
initiatives, we continue our efforts in economic development. We expect the overall
rate of economic growth to slow in 2000, but it will continue to expand. We do not '
have many new major businesses opening in 2000, but we do expect this to be
dramatically different by 2002. Boeing will always be a major influence on our
economy, but we will continue to mitigate that effect. '
Major Initiatives
Each spring the Council and Mayor meet for two days to clearly articulate the focus of
new initiatives for both the current year and the following five years. These initiatives,
also known as Business Goals and Strategies, are used to guide workload priorities in the
current year and budget priorities for the following years. Further, over the past five ,
years since we have used this method of prioritization, the initiatives have remained
rather consistent. This process has resulted in measurable successes in 1999 and
dictates what we will be working on in 2000 and 2001 . Finally, to guarantee success,
the Council and Mayor limit these initiatives to five. Outlined below are the City's five
goals in 1999 and the success strategy for each one.
Encourage and Support Economic Development and Downtown Redevelopment. We
had great success in 1999 in these areas. First, the City began the construction of a
new downtown park, the Piazza. This acre is in the downtown core and borders both a
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CITY Of RENTON, WASHINGTON
. new multi-family building and the planned downtown transit center. The completed
multi-family building is the first of three major units planned for our city center core.
.. With the completion of all three units, we expect to have over 250 people living within
our downtown which we expect will generate a larger need for small retail and
restaurants -- the next goal for the downtown.
Also under this initiative,we saw the sale of the Shuffleton Steam plant that is located at
the south end of Lake Washington adjacent to Coulon Park. While this sale was
between two private parties, it required the City to develop street changes to change
the use from a power transmission plant to a mixed-use development. When
completed, this Southport development will include over 350 residential units, a hotel,
and 550,000 square feet of commercial and retail space. The City will be able to
w complete a major trail system and connect our Lake Washington bike/path trail to our
Cedar River trail once the development is complete.
Another major project started to meet this five-year Business Plan is the Port Quendall
project. This is a 23-acre piece of property that poses a complex set of challenges. It
needs environmental remediation and transportation improvements to meet the goal
of having mixed-use development on this site. This project requires the City to be the
facilitator between Federal and State environmental and transportation agencies. If
the challenges can be overcome, the site will generate over five million dollars in
ongoing revenue from a combination of commercial, retail and housing uses.
Encourage and Support Neighborhood Revitalization. In 1999 we began a
neighborhood grant program. Neighborhood groups applied for monies for
neighborhood beautification projects in this program. Successful groups had to match
the city's money with either money or "sweat equity." Winning grants included
planting hundreds of daffodils in one neighborhood, putting in neighborhood
identification signs, and beginning to build gateway signs for the City. While the City
awarded a total of only $15,000 in 1999 of the $50,000 appropriated, we expect this
program to grow. In 2000, we funded the program again, and have to date already
awarded $17,000.
The most significant strategy within this initiative is another multi-year effort. Over the
years the neighborhood known as the Highlands has emerged as an area that has
great redevelopment potential. It is one of Renton's oldest areas with housing that was
built during World War II to house aircraft workers. As the name implies, the area is
elevated from the rest of the City, and has some amazing views. It also has large areas
of property that can be redeveloped for retail and housing uses.
In 1999 our efforts focused on developing conceptual plans and writing an RFP to find
a developer to acquire a large shopping center for redevelopment. The plans
required a significant amount of work with the neighborhood to ensure that all needs
were identified. This redevelopment will be a long-term project, but will result in better
services for the residents of this area, more activity in the area, and continued
economic health of the area and the City.
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CITY OF RENTON, WASHINGTON '
Increase Service Productivity and Innovation Efforts. Continued economic health of
the City is great, but at the same time we are increasing revenues from general growth, '
there are continual pressures from taxpayers and businesses to keep the tax rates low.
One major event in 1999 was the passage of a statewide Initiative eliminating the
Motor Vehicle Excise Tax and requiring voter passage of all tax increases. While this is '
winding its way through the court system, it clearly signals to the public sector that we
must continually examine ways to be more productive and show innovation to our
citizens.
Our city employees are constantly told to aim for productivity. In 1999 we
implemented a new phone system using our cable franchise and new technology. By '
the year 2001 , we will have over $100,000 in phone savings from this investment.
Further, we have a faster wide area network and can communicate with each other
much more quickly.
Our citizens can access information from Council minutes and meetings times to
business or building permits through our growing WEB site. In 1999 the City measured
over 409,000 visits to the overall site. This is a doubling of the visits in 1998. We are
experiencing an average of 7,880 visits per week to our home page in 1999.
Finally, the City has renovated the former city hall, the Mill Avenue building, and by the
end of 1999 had signed leases for four of the seven floors. Further, by the end of 1999
we had a lease for the fourth floor of our new city hall, the Grady Way Building. The
combination of all these leases will return a net profit to the City by 2001. �.
Improve the City's Image in the Community and Region. In 1999 we implemented a
comprehensive marketing plan with the School District, Renton Technical College, the
Hospital District and the Chamber. This plan resulted in the development of a
marketing slogan, consistent marketing materials, and most importantly, a consistent
theme. The results have been that when a business or developer contacts any agency
about information about Renton, we are ensuring they receive a professional package
of information about all assets of our City. We believe this has generated more interest
in being a part of our City as we have experienced more and more growth.
Work with the County and Neighboring Jurisdictions on Agreements that Impact the
City. The single most important element of 1999 was our work with other jurisdictions on
the implications of saving salmon habitat, and the determination of salmon as a
endangered species. The City of Renton worked with King County, the Suburban Cities
Association, Native Americans and Washington state representatives on the region's
response to saving the salmon. This initiative will be one of the most important regional
efforts in the next decade. The goal is to have the local governments determine their
efforts, and not have the Federal government dictate what we shall do.
We also worked with the State's Departments of Transportation and Ecology and other
regional leaders to find help in funding the transportation and environmental needs of ..
the Port Quendall development. This resulted in funding to begin to study on how to
CITY OF RENTON, WASHINGTON
change an important highway interchange for this major construction and economic
development project.
Financial Information, Management and Control
A detailed understanding of the financial position and operating results of the City is
provided in the CAFR. Presented below is a brief description of financial information,
management of financial resources and obligations, and control techniques
applicable to financial resources, obligations and information.
Basis of Accounting. The basis of accounting used determines when revenue and
expenditures or expenses are recognized in the accounts and reported in the financial
statements. All governmental funds and Expendable Trust Funds are accounted for
using the modified accrual basis of accounting. Their revenue are recognized when
they become measurable and available. Expenditures are generally recognized under
the modified accrual basis of accounting when the related fund liability is incurred. All
proprietary funds and Non-Expendable Trust Funds and Pension Trust Funds are
accounted for using the accrual basis of accounting. Under this basis of accounting,
the revenue are recognized when they are earned and their expenses are recognized
when they are incurred.
Accounting Systems and Budgetary Control. One of the City's primary functions is
ensuring the highest level possible of internal accounting controls. The Finance and
Information Services Department, working with all other departments, develops
accounting procedures, policies, and organization to focus on the safeguarding of all
the City's assets and the reliability of financial records. The procedures, policies, and
organization provide reasonable assurance that:
• Transactions are executed in accordance with management's general or specific
authorization.
• Transactions are recorded as necessary (1) to permit preparation of financial
statements in conformity with generally accepted accounting principles or any
other criteria, such as finance-related legal and contractual compliance
requirements applicable to such statements, and (2) to maintain accountability for
assets.
Access to assets is permitted only in accordance with management's authorization.
The recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences.
The definition of accounting control incorporates reasonable, but not absolute
assurance that the objectives expressed in it will be accomplished by the system. The
concept of reasonable assurance recognizes that the cost of internal control should
not exceed the benefits to be derived. The benefits consist of reductions in the risk of
failing to achieve the objectives implicit in the definition of accounting control.
. Within the City of Renton we believe all our internal accounting controls adequately
safeguard assets and provide reasonable assurance of proper recording of financial
transactions. The Washington State Auditor's Office (SAO) and the laws of Washington
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CITY OF RENTON,WASHINGTON '
State establish budgeting and accounting rules known as the Budgeting, Accounting
and Reporting System (BARS). The City is annually audited by the SAO to ensure we are '
in compliance with the system. Budgetary control is maintained at the department
level by the encumbrance of estimated purchase amounts before the release of
purchase orders to vendors. The City has not had an experience where a department '
encumbers more than it has appropriated. If an unanticipated need arises, the Mayor,
Finance Department, and department return to the City Council for additional
appropriation authority. Open encumbrances are reviewed at the end of the year.
They are either closed as the purchase is no longer valid, or they are reported as
reservations of fund balances as of December 31, 1999.
The City receives resources from other State and Federal agencies under a variety of
programs. Resources received from the State and Federal government are subject to
various specified controls and compliance standards. The SAO annually reviews these ,
expenditures for compliance. Monies received from the Federal government are also
subject to audit according to standards established by the Single Audit Act and 1996
Amendments and related OMB Circular A-133. Both State and Federal grants require
the City design, implement, and monitor an internal control structure that satisfies each
grant. Further, the City is also audited by the Washington State Department of
Revenue to ensure compliance with various fax laws. Any audit reports prepared
separately than the annual SAO audit is not included in the Comprehensive Annual
Financial Report, but can be provided upon request. The City has had no material
findings in any other audit.
Fund Descriptions
The accounts of the City are organized on the basis of funds and account groups, ,
each of which is considered a separate accounting entity. The operation of each fund
is accounted for by a separate set of self-balancing accounts that comprise its assets,
liabilities, and fund equity revenue as applicable, expenditures and expenses. The ,
individual funds account for the governmental resources allocated to them for the
purpose of continuing specific activities in accordance with special regulations,
restrictions or limitations. The funds used by the City are grouped into the following fund ,
types.
Governmental Funds. Governmental funds are used to account for the programs and ,
activities of the governmental functions of the City.
General Fund: The General Fund serves as the general fund. In this fund we ,
account for all the costs of public safety, building, planning, human services, general
administration, and all other activities and financial resources except those required to
be accounted for in another fund. '
Special Revenue Funds: Special Revenue Funds are used to account for the
proceeds of specific revenue sources that are legally restricted to expenditures for t
specified purposes. We have special revenue funds for our parks, library and street
activities, as well as several other activities. The City also allocates general
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CITY OF RENTON,WASHINGTON
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governmental revenue, such as property tax, to these funds to help offset the costs of
these activities.
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Debt Service Funds: Debt Service Funds are used to account for the resources
devoted to the payment of interest and principal on long-term capital obligation debt
,,. other than those payable from specific governmental funds and Enterprise Funds.
Capital Projects Funds: Capital Projects Funds are used to account for financial
resources to be used for the acquisition or construction of major capital facilities (other
than those financed by Enterprise Funds).
Proprietary Funds. Proprietary funds are used to account for ongoing organizations and
activities that are similar to those found in the private sector.
Enterprise Funds: Enterprise Funds are used to account for operations that are
financed and operated in a manner similar to private business enterprises. The intent is
that costs (expenses, including amortization and depreciation) of providing goods or
services to the general public on a continuing basis be financed or recovered primarily
through user charges.
Internal Service Funds: Internal Service Funds are used to account for the
financing of goods or services provided by one department or agency to other
departments or agencies of the governmental unit, or to other governmental units, on
,,. a cost reimbursement basis.
Fiduciary Funds. Fiduciary funds are used to account for assets held by a
governmental unit in a trustee capacity or as an agent for individuals, private
organizations, and other governmental units and funds.
r. Trust and Agency Funds: Trust and Agency funds are used to account for assets
held by Expendable Trust Funds, Pension Trust Funds, and Agency Funds.
,,. Account Groups. In addition to the several generic funds described above, the City
uses account groups to establish accounting control and accountability for the City's
general fixed assets and general long-term debt. The two account groups are
described below:
General Fixed Assets Account Group: The General Fixed Assets Account Group
is used to account for all fixed assets of the City other than those accounted for in
proprietary funds and certain fiduciary funds.
General Long Term Debt Account Group: The General Long Term Debt Account
Group is used to account for all long-term debt of the City except debt accounted for
in specific governmental funds, proprietary funds, and certain fiduciary funds.
9
CITY OF RENTON, WASHINGTON
General Government Functions. These are general municipal activities and services.
The activities include, but are not limited to, public safety, parks, library, building, '
planning, courts, legal, debt costs and general administration. Within these funds are
the capital funds.
General Fund: In 1999 we collected $2.9 million more in revenue than we '
expended. This increase came primarily from gambling taxes and charges for services.
We continue to see building related fees much higher than we anticipated. '
REVENUE 1999 1998
Taxes 27,878,475 $ 26,438,377 '
Licenses And Permits 1,687,572 2,063,509
Intergovernmental Revenue 2,299,474 2,605,650 '
Charges For Services 3,867,738 3,979,440
Fines And Forfeits 797,657 687,492
Interest 1,161,911 1,158,010 '
Miscellaneous Revenue 75,563 98,437
TOTAL REVENUE $37,768,390 $ 37,030,915
Expenditures from the General Governmental Fund amounted to $34,831,584 as of
December 31, 1999. This was 4.5 percent above 1998 levels. This growth was
experienced generally in labor costs. There were no unusual expenditures in 1999 or
any that did not follow budgetary expectations. The expenditures were as follows:
EXPENDITURES 1999 1998
Current: '
General Government $ 8,065,131 $ 7,884,293
Security Of Persons And Property 21,336,276 20,074,074 '
Physical Environment 1,892,549 1,730,735
Economic Environment 2,919,978 3,240,794
Mental And Physical Health 8,486 10,962 ,
Capital Outlay 573,298 350,193
Debt Service:
Principal Retirement 33,018 33,018
Interest & Fiscal Charges 2,848 5,696
TOTAL EXPENDITURES $ 34,831,584 $ 33,330,395 '
1
10
CITY OF RENTON,WASHINGTON
Special Revenue Funds: Besides the Park, Library, and Street Funds which
provide the next level of general services after the General Fund, this fund group in
1998 included mitigation monies as a fund. In 1999 we changed this fund to be capital
funds, and created three separate funds for the type of mitigation purposes the monies
were to be dedicated.
Debt Service Funds: With the exception of revenue bonds, and other debt
issued by Enterprise Funds, long-term debt is serviced through these types of funds.
During 1999, the City collected $3.5 million dollars in property taxes and $670,000 from
assessments for the payment of four million dollars in debt service annual requirements.
The City took on no additional external debt in 1999.
Capital Project Funds: The City has nine funds for capital improvements. In 1997
the City purchased a building and began to renovate it as a new City Hall. In 1999, the
w city completed the jail facility. In 2000 we will complete the public access amenities
and have one floor rented out to a private business. In the Capital Improvement Funds
the City tracks all transportation capital improvements, park, and general
improvements. In 1999 we moved and changed mitigation funds from Special
Revenue Fund to Capital Funds, and created three new funds for park, transportation,
and fire mitigation. Each of these funds must be used for specific purposes as outlined
in State and City law. The other major event that occurred in the capital area is the
City continued to renovate and rent the Mill Avenue building. By the end of 1999, the
City had four floors of the building rented.
Proprietary Operations. Within these funds the activities the City provides are operated
similar to a private function. The fees must cover the program costs and other revenue
earned. The City owns and operates its own water utility. We do not purchase water
from the City of Seattle like many of our neighbors. This one fund is the largest of all the
proprietary funds. Further, this fund must cover the costs of all its capital requirements.
The building of the water infrastructure is the one area that changes the most
dramatically from year to year, depending on environmental requirements.
Enterprise Funds: The Water Utility Fund had an operating income of two million
dollars at the end of the year. Because of this cash surplus, and the fact that
environmental requirements have added complexity to general project construction,
the City did not have to borrow any funds in 1999 to meet the fund's capital
requirements. Also, the city increased only the surface water charges in 1999. Water
and sewer charges were not increased. The City charges all customers a monthly fee
for water, sewer and surface water based on actual use or impervious surface. Renton
residents are also charged a monthly fee from King County for their costs in providing
regional water treatment. The City is responsible for billing and collecting this fee for
King County.
The Airport Fund had an active capital expenditure plan this year, and thus finally spent
some of its fund balance for major needs. Even with these expenditures for repaving of
the runway and some building improvements, the fund maintains a healthy reserve of
CITY OF RENTON, WASHINGTON
$7.8 million dollars. These funds are maintained by the Airport and will be used for
future capital needs. The City owns and operates the Airport. Our largest customer is ,
Boeing. However, due to constraints at the other urban airports, the City's airport is
growing in the areas of water landings and small private plane ownership.
The City uses a third party contractor for solid waste management. The City does all
the billing and pays the vendor monthly. In 1999 the City earned $166,802 in this fund.
We had no rate increase in 1999. During the year we began the process to select a
solid waste vendor for 2000. We will expect to have rate increases sometime next year.
The Golf Course Fund is the newest enterprise fund for the City. In 1995 the City
assumed management of the golf course from a third party vendor. The operations
have been growing since that year. In 1999, the Golf Course Fund ended the year with
$261,022 in net income.
Internal Service Funds: These funds are used to track the City's costs of certain
activities. The Equipment Rental Fund tracks the costs of maintaining the City's rolling ,
stock. The City self-insures its employees basic health, dental, and industrial insurance
costs. In addition to these costs, the Insurance Fund also pays for all liability claims up
to a maximum of $250,000. If a claim is above this limit, various insurance types the City
purchases from independent brokers cover the claim.
In 1999, the City had a combined net income of approximately $400,000. Our net
income in the Equipment Rental fund continues to grow at a sustainable level, but our
Insurance Fund did experience some significant costs in 1999. Litigation costs had a
negative impact on our Insurance Fund. In late 1998 we joined a public entity
consortium of insurance providers, the Washington Cities Insurance Authority (WCIA). In
that transfer we addressed many old claims that had not been dealt with by our
previous provider. We knew at the beginning of 1999 that our costs were going to be
higher than usual in our Insurance Fund, but we also believe that our future liabilities are
now more controllable, and certainly better managed.
Fiduciary Fund Types. In the City of Renton these funds include the Firemen's Pension -
Fund, Special Deposit Fund, Advance Travel Fund, Payroll Clearing Fund, and a
Deferred Compensation Fund.
Firemen's Pension Fund: Of all the funds in this category, this is the one of
significant consequence. This fund must be maintained by the City to pay the
retirement benefits for all fire officers who were employed prior to 1977. The City ended
the year with over $6.8 million in assets to cover future costs. An actuarial study is
conducted to determine the future needs of this fund. The $6.8 million is one million
dollars more than the most recent study stated we needed. Further, in 1998 the Fire
Pension Board made a decision to secure its assets in more consistent investments. The
assets of the Fund are now all invested in Federal treasury instruments. There will be
very little change in this Fund over the next few years.
,n
CITY OF RENTON, WASHINGTON
Special Deposit Fund: This is a holding fund for deposits and other special
revenue. When the obligations of the receipts have been made, we release the
monies. It is a small impact on our overall operations.
Advance Travel Expense Fund: Established to provide advance travel, if
necessary, for staff and elected officials. This fund was closed during 1999 because the
City has used credit cards for this purpose since 1996.
Payroll Clearing Fund: This fund is used to account for payroll liabilities
outstanding at various times during a payroll cycle.
Deferred Compensation Fund: Established in 1986 to account for the Deferred
Compensation plan assets and liabilities. At the end of 1999, there were $20 million in
assets in this fund.
Debt Administration. The ratio of net tax-supported bonded debt to assessed valuation
and net tax-supported bonded debt per capita are useful indicators of the City's debt
position. A comparison of these ratios follows.
1999 1998
Net tax supported bonded debt $24,462,390 $26,958,807
Net tax supported bonded debt per capita $514 $583
Net tax supported bonded debt as a .57% 0.70%
percentage of assessed valuation.
The City's latest bond issues, excluding debt issued by component units, were rated as
follows:
STANDARD AND
MOODY'S FITCH POOR'S
General Obligation Al A+ A+
Water/Sewer Revenue Bonds Al A+ A+
.. The City issued no new debt in 1999.
Cash Management and Investments. The City has an adopted Cash and Investments
policy that states the primary objectives of cash and investment management in
priority order are safety, liquidity, and return on investment. As of December 31, 1999
Renton had $39,738,881 in Category I investments. We had only $98,272 in Category II
investments and no investments were in Category III.
Risk Management. As stated earlier in late 1998 the City significantly changed its
. insurance strategy by joining the Washington Cities Insurance Authority (WCIA). Prior to
that, the City had purchased excess coverage from a variety of sources through a
private broker, and had claims management conducted by another company. By
13
CITY Of RENTON, WASHINGTON '
joining the WCIA, the City was able to spend less for management costs, purchase
more coverage for our rolling fleet, join a structured ongoing training program on risk '
management for all departments, and have all insurance management handled by
one company. The WCIA is a consortium of Washington State cities that purchases
excess coverage in large blocks, thus leveraging the market. It has a professional staff, '
but is provided monthly oversight by a board made up of City representatives. As
stated earlier, the City purchases different types of insurance for any claim above
$250,000. This includes medical as well as liability costs.
Independent Audit
The financial records, books of accounts, and transactions of the City and its
components for the fiscal year ended December 31, 1999, have been audited by the
State of Washington Auditor's Office (SAO) as mandated by State law. Their opinion is
included in the Financial Section of this report. ,
The financial statements are the responsibility of the City. The responsibility of the SAO is
to express an opinion on the City's financial statements based on their audit. An audit ,
is conducted in accordance with generally accepted auditing standards. Those
standards require that the audit be planned and performed in a manner to obtain a
reasonable assurance as to whether the financial statements are free of material ,
misstatement.
Awards '
The Governmental Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to
the City for its Comprehensive Annual Financial Report for the fiscal year ended
December 31, 1998.
In order to be awarded a Certificate of Excellence, a governmental unit must publish ,
an easily readable and efficiently organized Comprehensive Annual Financial Report,
the contents of which conform to program standards. Such reports must satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Excellence is valid for a period of one year only. We believe our
current report continues to conform to the Certificate of Excellence Program ,
requirements, and we are submitting it to GFOA to determine its eligibility for another
certificate.
RESPONSIBILITY AND ACKNOWLEDGEMENT ,
The Finance and Information Services Department prepared the Comprehensive
Annual Financial Report for the fiscal year ended December 31, 1999. We believe that '
the information presented is accurate in all material respects and that this report fairly
presents the financial position and results of operations of the various funds and
account groups of the City. '
14 ,
CITY OF RENTON,WASHINGTON
rr
The preparation of the Comprehensive Annual Financial Report results in the document
here before you. However, without the dedication of staff both in the Finance Division
and throughout all departments of the City, this Report would not be possible. The
Report is completed in a timely manner by the Finance Division staff, led by Gina Jarvis,
the City's Accountant and her staff, Linda Dixon and Cindy Zinck. I would like to
express my appreciation to my staff and all personnel throughout City Hall that ensure
our financial records are maintained appropriately, timely, and accurately every day
of the year. Also, I would like to thank the Mayor and City Council for their continued
interest and support in the financial operations of the City.
Respectfully submitted,
C`tel.
Victoria A. Runkle
Finance & Information Services Administrator
15
CITY OF RENTON,WASHINGTON ,
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Renton,
Washington
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1998
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFRs) achieve the highest
standards in government accounting
and financial reporting.
�GE 11FF
MM STATES ��
AMW
OMTM s President
Executive Director
CITY OF RENTON, WASHINGTON
CITY OF RENTON
CORPORATE ORGANIZATION STRUCTURE
RENTON CITIZENS
CITY COUNCIL
Randy Corman,President,Timothy J.Schlitzer,
Kathy Keolker-Wheeler,Toni Nelson,
King Parker,Don Persson,Dan Clawson,4346501
MAYOR
Jesse Tanner
4346500
ffiffiffiiiill
CHIEF ADMINISTRATIVE OFFICER
Jay Covington
4346500
HUMAN RESOURCESF[Gregg
G/BUILDING/ EXECUTIVE DEPARTMENT FINANCE t
b RISK MANAGEMENTIC WORKS Jay Covington, INFORMATION SERVICES
Michael Webby,Administratorman,Administrator Chief Administrative Officer Victoria Runkle,Administrator
434765047394 430-6500 4346858
Risk fvlanagemenf Development Services City Attorney Fiscal Services
Jana Hanson,Director Larry Warren Paul Kusakabe,Director
"" Human Resources Transportation Systems Hearing Examiner
Sandra Meyer,Director Fred Kaufman Budgeting
&Accounting
CNB Service Commason Utility Systems Municipal Court Judge
Lys Hornsby,Director Terry Lee Jurado Information Services
--]
Maintenance Services City Clerk
Jack Crumley,Director Marilyn Petersen Printing Services
FIRE DEPARTMENT POLICE DEPARTMENT COMMUNITY SERVICES ECONOMIC DEV,NEIGHBORHOODS
A.Lee Wheeler,Chief Carry Anderson,Chief Jim Shepherd,Administrator i STRATEGIC PLANNING
430-7501 4341507 430-6604 Sue Carlson,Administrator
4346580
low
Operations Operations Bureau Facilities Economic Development
Art Larson,Deputy Fie Chief Joseph Peach.Deputy Chief Dennis Culp,Director Betty Nokes,Director
Recreation
Suppression7 Operations Bureau Sylvia Allen,Director
Parks
Administration/Support Services Support Services Leslie Betlach.Director
Gary Gotti,Deputy Fie Chief
Library
f--CI-
rk Petersen,Director
' ort Support Services Bureau
Seryices Human Services
Training/Supp
Karen Marshall,Manager
Fie Prevention
' Capital Improvement Projects
Glenn Kosi,Manager
Emergency Management
Safety
' 17
CITY OF RENTON,WASHINGTON
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Financial Section
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Legislative Building Washington State Auditor (360)902-0370
PO Box 40021 FAX(360)753-0646
Olympia,Washington 98504-0021 Brian Sonntag TDD Relay 1-800-833-6388
http://www.wa.gov/sao/
INDEPENDENT AUDITOR'S REPORT
June 23, 2000
Honorable Mayor and City Council
City of Renton
r Renton,Washington
We have audited the accompanying general purpose financial statements of the City of Renton, King County,
Washington, as of and for the year ended December 31, 1999, as listed in the table of contents. These financial
statements are the 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 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 general purpose financial statements referred to above present fairly, in all material respects, the
financial position of the City of Renton, King County, Washington, as of December 31, 1999, and the results of its
operations and cash flows of its proprietary fund types for the year then ended in conformity with generally
accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a
whole. The combining, individual fund, and account group financial statements and schedules listed in the table of
contents are presented for purposes of additional analysis and are not a required part of the general purpose
r" financial statements of the City of Renton, King County, Washington. Such information has been subjected to the
auditing 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.
is
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.
In Sincerely,
2xv�,-
is BRIAN SONNTAG,CGFM
STATE AUDITOR
CITY OF RENTON,WASHINGTON
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General Purpose
Financial Statements
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CITY OF RENTON,WASHINGTON
GENERAL PURPOSE FINANCIAL STATEMENTS
DECEMBER 31, 1999
The General Purpose Financial Statements are the combined financial statements that,
-° together with the accompanying notes, constitute the minimum financial reporting
needed for fair presentation in conformity with Generally Accepted Accounting
Principles.
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CITY OF RENTON, WASHINGTON
COMBINED BALANCE SHEET-ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998 ,
(PAGE 1 OF 2)
GOVERNMENTAL FUND TYPES
SPECIAL DEBT CAPITAL
GENERAL REVENUE SERVICE PROJECTS
ASSETS:
Cash and Cash Equivalents-Note 3 $ 747.838 $ 2,034,476 $ 2,841,478 $ 4,313,859
Cash With Fiscal Agent 0 0 397,000 0 ,
Deferred Compensation Plan Assets-Note 4 0 0 0 0
Investments at Fair Value-Note 3 4,977,648 1,341.179 49,555 16,750,087
Receivables,Net of Allowance for Uncollectibles-Note 5: 4,046,867 34,232 1,415,924 145,917
Due From Other Funds-Note 5 9,203 33,635 90,755 288,281
Due From Other Governmental Units-Note 5 0 60,534 0 2,415,713
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 109,080 0 0 0
Revenue Bond Debt Service 0 0 0 0
Construction Account 0 0 0 0
Interfund Loans/Advances-Non-Current-Note 5 75,000 0 0 600,000
Note Receivable-Non-Current-Note 5 0 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 $ 9.973.636 $ 1504.056 $ 4.794.712 $ 24.513.857
LIABILITIES,EQUITY AND OTHER CREDITS:
LIABILITIES:
Vouchers/Contracts Payable $ 312,186 $ 251,580 $ 202 $ 1,897,006
Retainage Payable 0 9,167 0 295,147 ...
Due To Other Funds-Note 5 180,716 178,321 0 37,884
Due To Other Governmental Units-Note 5 1,616,397 0 0 0
Payables-Note 5 3,423 6,469 397,000 1,229
Deferred Revenues 2,173,468 0 1,410,495 0
Liabilities Payable from Restricted Assets:
Deposits Payable 0 0 0 0
General Obligation Bonds Payable-Current-Note 12 0 0 0 0
Capital Leases Payable-Current-Note 12 0 0 0 0
Revenue Bonds Payable-Current Portion-Note 12 0 0 0 0
Deposits Payable 0 15,980 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 Debt With Government Commitment-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 & 12 223,224 76,592 0 0
Deferred Compensation Payable-Note 4 0 0 0 0
Interfund Loans/Advances-Non-Current-Note 5 0 75,000 0 600,000
Claims Incurred But Not Reported-Note 17 0 0 0 0
Capital Leases Payable-Note 12 0 0 0 0
Installment Purchase Contracts-Note 12 0 0 0 0
Public Works Trust Fund Loan Payable-Note 12 0 0 0 0
TOTAL LIABILITIES 4,509,414 613,109 1,807,697 2,831,266
FUND EQUITY AND OTHER CREDITS:
Fund Balance:
Reserved-Note 1 & 14 83,000 0 2,987,015 0
Unreserved-Designated-Note 14 116,623 0 0 0
Unreserved-Undesignated 5,264,599 2,890,947 0 21,682,591
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/General Fixed Assets 0 0 0 0
TOTAL FUND EQUITY AND OTHER CREDITS 5,464,222 2,890,947 2,987,015 21,682,591
TOTAL LIABILITIES,EQUITY AND OTHER CREDITS $ 9.973.636 $ 3.504.056 $ 4.794.712 $ 24.513.857
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
22
CITY OF RENTON, WASHINGTON
1r
COMBINED BALANCE SHEET-ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 2)
PROPRIETARY FUND TYPES FIDUCIARY ACCOUNT GROUPS COMPARATIVE TOTALS
INTERNAL TRUST GENERAL GENERAL LONG (MEMORANDUM ONLY)
ENTERPRISE SERVICE AND AGENCY FIXED ASSETS TERM DEBT 1999 1998
$ 4,174,068 $ 1,574,475 $ 924,923 $ 0 $ 0 $ 16,611,117 $ 27,019,329
0 0 0 0 0 397,000 130,000
0 0 20,437,037 0 0 20,437,037 15,216,256
5,480,735 4,297,178 5,455,198 0 0 38,351,580 30,716,095
1110 3,219,431 138,454 718,722 0 0 9,719,547 9,642,222
736 20,000 0 0 0 442,610 463,075
866,849 31,746 0 0 0 3,374,842 2,103,161
638,362 83,353 0 0 0 721,715 613,803
1N 20,000 3,156 0 0 0 31,156 18,162
0 0 0 1,968,198 0 1,968,198 1,719,302
33,599 0 0 0 0 142,679 216,721
5,300,612 0 0 0 0 5,300,612 6,143,306
11x1 1,589,322 0 0 0 0 1,589,322 653,287
0 0 0 0 0 675,000 79,000
44,514 0 0 0 0 44,514 66,187
142,955,948 4,739,081 0 114,035,568 0 261,730,597 226,583,919
9,317,439 0 0 3,012,120 0 12,329,559 26,455,909
�w 64,000 0 0 0 0 64,000 80,000
0 0 0 0 2,987,015 2,987,015 2,325,340
0 0 0 0 28,521,306 28,521,306 27,973,144
$ 173.705.615 $ 10.887.443 $ 27.535.880 $ 119.015.886 $ 31.508.321 $ 405.439.406 $ 378.218.218
$ 1,649,719 $ 320,499 $ 200 $ 0 $ 0 $ 4,431,392 $ 1,921,397
130,401 0 0 0 0 434,715 559,819
45,691 0 0 0 0 442,612 463,075
650,655 0 0 0 0 2,267,052 2,243,510
429,207 3,979 163 0 0 841,470 585,374
365,901 0 0 0 0 3,949,864 4,630,194
r 141,285 0 0 0 0 141,285 105,748
0 0 0 0 0 0 399,000
17,583 0 0 0 0 17,583 40,384
1,840,000 0 0 0 0 1,840,000 2,090,000
1� 0 38,146 204,573 0 0 258,699 291,210
0 0 0 0 0 0 32,250
0 0 0 0 26,223,908 26,223,908 27,789,658
0 0 0 0 0 0 (68,061)
0 0 0 0 680,000 680,000 1,335,000
25,020,000 0 0 0 0 25,020,000 26,490,000
(1,497,331) 0 0 0 0 (1,497,331) (1,088,170)
395,854 45,022 0 0 4,361,558 5,102.250 4,290,576
0 0 20,437,037 0 0 20,437,037 15,216,256
M 0 0 0 0 0 675,000 79,000
0 2,184,914 0 0 0 2,184,914 2,741,045
24,693 0 0 0 0 24,693 41,712
70,160 0 0 0 242,855 313,015 402,368
8,440,182 0 0 0 0 8,440,182 8,739,937
37,724,000 2,592,560 20,641,973 0 31,508,321 102,228,340 99,331,282-
0 0 6,893,907 0 0 9,963,922 9,406,519
0 0 0 0 0 116,623 117,699
0 0 0 0 0 29,838,137 32,138,872
102,017,808 2,282,377 0 0 0 104,300,185 94,691,310
10,335,911 0 0 0 0 10,335,911 8,353,765
23,627,896 6,012,506 0 0 0 29,640,402 29,791,626
0 0 0 119,015,886 0 119,015,886 104,387,145
135,981,615 8,294,883 6,893,907 119,015,886 0 303,211,066 278,886,936
$ 173.705.615 $ 10.887.443 $ 27.535.880 $ 119.015.886 $ 31.508.321 $ 405.439.406 $ 378.218.218
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
23
CITY OF RENTON,WASHINGTON '
COMBINED STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
FOR ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1999 ,
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE I OF 1)
GOVERNMENTAL FUND TYPES COMPARATIVE TOTALS
SPECIAL DEBT CAPITAL (MEMORANDUM ONLY)
GENERAL REVENUE SERVICE PROJECTS 1999 1998
REVENUES
Taxes $ 27,878,475 $ 11,345,408 $ 3,583,955 $ 1,473,926 $ 44,281,764 $ 41,722,051
Licenses And Permits 1,687,572 58,327 0 2,047,940 3,793,839 4,146,167
Intergovernmental Revenues 2,299,474 1,300,784 0 2,781,636 6,381,894 9,078,690
Charges For Services 3,867,738 1,620,896 0 1,674,610 7,163,244 7,785,760
Fines And Forfeits 797,657 33,670 0 0 831,327 722,054
Special Assessments 0 0 669,885 0 669,885 516,929
Contributions 28,163 (63,122) 0 39,000 4,041 1,974,897
Interest 1,161,911 113,580 224,512 717,910 2,217,913 2,626,519
Miscellaneous Revenues 47,400 486,661 0 156,844 690,905 555,701
TOTAL REVENUES 37,768,390 14,896,204 4,478,352 8,891,866 66,034,812 69,128,768
EXPENDITURES '
Current:
General Government 8,065,131 1,906,909 0 83,899 10,055,939 9,915,676
Security Of Persons And Property 21,336,276 0 0 0 21,336,276 20,074,074
Physical Environment 1,892,549 0 0 0 1,892,549 1,730,735
Transportation 0 5,130,703 0 5,564,159 10,694,862 10,985,484
Economic Environment 2,919,978 872,486 0 9,916 3,802,380 4,060,970
Mental And Physical Health 8,486 0 0 0 8,486 10,962
Culture and Recreation 0 6,159,132 0 0 6,159,132 5,804,099
Capital Outlay 573,298 143,739 0 10,267,870 10,984,907 13,712,159
Debt Service:
Principal Retirement 33,018 0 2,674,976 0 2,707,994 2,032,436
Interest&Fiscal Charges 2,848 0 1,342,740 0 1,345,588 1,381,069
TOTAL EXPENDITURES 34,831,584 14,212,969 4,017,716 15,925,844 68,988,113 69,707,664
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 2,936,806 683,235 460,636 (7,033,978) (2,9 3,301) (578,896)
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0 38,990 38,990 0
Interfund Loan Proceeds 0 148,000 0 0 148,000 0
Interfund Loon Repayments 0 0 0 (148,000) (148,000) 0
Operating Transfers In 0 4,468 399,501 3,965,889 4,369,858 6,244,003 '
Operating Transfers(Out) (2,107,458) (708,180) (200,000) (1,010,609) (4,026,247) (7,413,375)
Sale Of General Fixed Assets 0 35,000 0 891,565 926,565 362,890
TOTAL OTHER FINANCING SOURCES(USES) (2,107,458) (520,712) 199,501 3,737,835 1,309,166 (806,482)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 829,348 162,523 660,137 (3,296,143) (1,644,135) (1,385,378)
FUND BALANCE JANUARY 1 4,642,713 9,037,183 2,325,340 18,663,675 34,668,911 35,991,179
Residual Equity Transfers In 0 7,839 1,538 6,316,597 6,325,974 63,110
Residual Equity Transfers Out (7,839) (6,316,598) 0 (1,538) (6,325,975) 0
FUND BALANCE DECEMBER 31 $ 5.464.222 $ 2.890.947 $ 2.987.015 $ 21.682.591 $ 33.024.775 $ 34.668.91 1
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
a
a
24
CITY OF RENTON, WASHINGTON
Ir
law COMBINED STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES,BUDGET AND ACTUAL
GENERAL,SPECIAL REVENUE,DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 1998
(PAGE 1 OF 4)
GENERAL FUND
VARIANCE
FAVORABLE
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes $ 27,909,660 $ 28,051,223 $ 141,563
Licenses And Permits 1,483,507 1,679,687 196,180
Intergovernmental Revenues 1,861,955 2,352,702 490,747
ft Charges For Services 3,752,380 3,849,410 97,030
Fines And Forfeits 768,000 797,657 29,657
Special Assessments 0 0 0
Contributions 54,993 28,163 (26,830)
Interest 750,000 1,019,349 269,349
10 Miscellaneous Revenues 206,367 47,151 (159,216)
TOTAL REVENUES 36,786,862 35825,342 1,038,480
EXPENDITURES
w Current:
General Government 7,953,649 8,066,917 (113,268)
Security Of Persons And Property 22,082,564 21,300,403 782,161
Physical Environment 1,933,429 1,892,541 40,888
Transportation 0 0 0
1w Economic Environment 3,386,942 2,932,573 454,369
Mental And Physical Health 10,399 8,486 1,913
Culture and Recreation 0 0 0
Capital Outlay 881,995 573,299 308,696
1m Debt Service:
Principal Retirement 33,348 33,018 330
Interest&Fiscal Charges 5,753 2,848 2,905
TOTAL EXPENDITURES 36,27079 34,810,085 1,477,994
w EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 498,783 3,015,257 2,516,474
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 0 0 0
Operating Transfers(Out) (2,368,989) (2,368,989) 0
1w Sale Of General Fixed Assets 0 0 0
TOTAL OTHER FINANCING SOURCES(USES) (2368.989) (2,368,989) 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (1,870,206) 646.268 2,516,474
FUND BALANCE JANUARY 1 4,736,268 4,736,268 0
Residual Equity Transfers In 0 0 0
Residual Equity Transfers(Out) (7,839) (7,839) 0
FUND BALANCE DECEMBER 31 $ 2.858.223 $ 5.374.697 $ 2.516.474
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
r
25
CITY OF RENTON,WASHINGTON
COMBINED STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES,BUDGET AND ACTUAL
GENERAL,SPECIAL REVENUE,DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 1998
(PAGE 2 OF 4)
SPECIAL REVENUE FUND TYPES ,
VARIANCE
FAVORABLE
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes $ 11,701,196 $ 11,345,409 $ (355,787)
Licenses And Permits 20,000 52,676 32,676
Intergovernmental Revenues 1,470,319 1,461,945 (8,374)
Charges For Services 1,529,787 1,633,838 104,051
Fines And Forfeits 24,500 33,670 9,170
Special Assessments 0 0 0
Contributions 500 24,220 23,720
Interest 135,250 117,335 (17,915)
Miscellaneous Revenues 463,500 478,630 15,130
TOTAL REVENUES 15,345,052 15,147,723 (197,329)
EXPENDITURES '
Current:
General Government 2,084,508 1,908,058 176,450
Security Of Persons And Property 0 0 0
Physical Environment 0 0 0
Transportation 5,576,604 5,134,676 441,928
Economic Environment 977,805 872,478 105,327
Mental And Physical Health 0 0 0
Culture and Recreation 6,567,696 6,166,358 401,338
Capital Outlay 345,518 152,003 193,515
Debt Service:
Principal Retirement 0 0 0
Interest&Fiscal Charges 0 0 0
TOTAL EXPENDITURES 15,552,131 14,233,573 1,318,558
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (207,079) 914,150 1,121,229
y
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0
Interfund Loan Proceeds 0 148,000 148,000
Interfund Loan Repayments 0 0 0
Operating Transfers In 0 4,468 4,468
Operating Transfers(Out) (708,180) (708,180) 0
Sale Of General Fixed Assets 0 35,000 35,000
TOTAL OTHER FINANCING SOURCES(USES) (708,180) (520,712) 187,468
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (915,259) 393,438 1,308,697
FUND BALANCE JANUARY 1 8,943,635 8,943,635 0
Residual Equity Transfers In 7,839 7,839 0
Residual Equity Transfers(Out) (6,316,598) (6,316,598) 0
FUND BALANCE DECEMBER 31 $ 1.719.617 $ 3.028.314 $ 1.306.697
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
26
CITY OF RENTON,WASHINGTON
r
COMBINED STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES,BUDGET AND ACTUAL
GENERAL,SPECIAL REVENUE,DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 1998
(PAGE 3 OF 4)
DEBT SERVICE FUND TYPES CAPITAL PROJECTS FUND TYPES
VARIANCE VARIANCE
FAVORABLE FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE>
$ 3,045,000 $ 3,555,693 $ 510,693 $ 825,000 $ 1.445,468 $ 620,468
0 0 0 1,608,000 2,047,940 439,940
0 0 0 6,282,019 1,823,170 (4,458,849)
0 0 0 1,050,000 1,674,612 624,612
0 0 0 0 0 0
494,153 689,931 195,778 0 0 0
0 0 0 0 39,000 39,000
42,865 228.442 185,577 740,500 764,329 23,829
0 0 0 130,000 156,844 26,844
3,582,018 4,474,066 892,048 10,635,519 7,951,363 (2,684,156)
M
0 0 0 85,000 83,900 1,100
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 15,250,784 5,572,157 9,678,627
�+ 0 0 0 50,000 9,916 40,084
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 16,714,733 10,277,648 6,437,085
2,639,976 2,674,976 (35,000) 0 0 0
1,357,240 1,342,740 14,500 12,108 0 12,108
3,997,216 4,017,716 (20,500) 32,112,625 15,943,621 16,169,004
(415,198) 456,350 871,548 (21,477,106) (7,992,258) 13,484,848
0 0 0 0 38,990 38,990
0 0 0 235,000 300,000 65,000
0 0 0 (157,455) (448,000) (290,545)
399,501 399,501 0 4,305,889 4,266,132 (39,757)
(246,200) (200,000) 46,200 (1,110,609) (1,310,609) (200,000)
r 0 0 0 354,403 528,283 173,880
153,301 199,501 46,200 3,627,228 3,374,796 (252,432)
(261,897) 655,851 917,748 (17,849,878) (4,617,462) 13,232,416
2,233,885 2,233,885 0 17,265,515 17,265,515 0
0 1,538 1,538 6,316,597 6,316,597 0
nr 0 0 0 0 (1,538) (1,538)
$ 1.971.988 $ 2.891.274 $ 919.286 $ 5.732.234 $ 18.963.112 $ 13.230.878
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
r
r
27
CITY OF RENTON,WASHINGTON ,
COMBINED STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES,BUDGET AND ACTUAL
GENERAL,SPECIAL REVENUE,DEBT SERVICE, ,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31,1998
(PAGE 4 OF 4)
COMPARATIVE TOTALS
(MEMORANDUM ONLY)
VARIANCE
FAVORABLE 1998 '
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 43,480,856 $ 44,397,793 $ 916,937 $ 41,722,051
Licenses And Permits 3,111,507 3,780,303 668,796 4,146,167
Intergovernmental Revenues 9,614,293 5,637,817 (3,976,476) 9,078,690
Charges For Services 6,332,167 7,157,860 825,693 7,785,760
Fines And Forfeits 792,500 831,327 38,827 722,054
Special Assessments 494,153 689,931 195,778 516,929
Contributions 55,493 91,383 35,890 1,974,897
Interest 1,668,615 2,129,455 460,840 2,626,519
Miscellaneous Revenues 799,867 682,625 (117,242) 555,701
TOTAL REVENUES 66,349,451 65,398,494 (950,9571 69,128,768
EXPENDITURES
Current:
General Government 10,123,157 10,058,875 64,282 9,915,676
Security Of Persons And Property 22,082,564 21,300,403 782,161 20,074,074
Physical Environment 1,933,429 1,892,541 40,888 1,730,735
Transportation 20,827,388 10,706,833 10,120,555 10,985,484
Economic Environment 4,414,747 3,814,967 599,780 4,060,970
Mental And Physical Health 10,399 8,486 1,913 10,962
Culture and Recreation 6,567,696 6,166,358 401,338 5,804,099
Capital Outlay 17,942,246 11,002,950 6,939,296 13,712,159
Debt Service:
Principal Retirement 2,673,324 2,707,994 (34,670) 2,032,436
Interest&Fiscal Charges 1,375,101 1,345,588 29,513 1,381,069
TOTAL EXPENDITURES 87,950,051 69,004,995 18,945,056 69,707,664 '
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (21,600,600) (3,606,501) 17,994,099 (578,896)
OTHER FINANCING SOURCES(USES)
Proceeds Of long-Term Debt 0 38,990 38,990 0
Interfund Loan Proceeds 235,000 448,000 213,000 0
Interfund Loan Repayments (157,455) (448,000) (290,545) 0
Operating Transfers In 4,705,390 4,670,101 (35,289) 6,244,003 '
Operating Transfers(Out) (4,433,978) (4,587,778) (153,800) (7,413,375)
Sale Of General Fixed Assets 354,403 563,283 208,880 362,890
TOTAL OTHER FINANCING SOURCES(USES) 703,360 684,596 (18,764) (806,482)
EXCESS(DEFICIENCY)OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (20,897,240) (2,921,905) 17,975,335 (1,385,378)
FUND BALANCE JANUARY 1 33,179,303 33,179,303 0 35,991,179
Residual Equity Transfers In 6,324,436 6,325,974 1,538 63,110
Residual Equity Transfers(Out) (6,324,437) (6,325,975) 11,538) 0
FUND BALANCE DECEMBER 31 $ 12,282.062 $ 30.257.397 $ 17.975.335 $ 34.668.911
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
28
CITY OF RENTON, WASHINGTON
to
IN COMBINED STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN FUND EQUITY
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 1)
PROPRIETARY FUND TYPES COMPARATIVE TOTALS
INTERNAL (MEMORANDUM ONLY)
ENTERPRISE SERVICE 1999 1998
OPERATING REVENUES:
Charges for Services $ 30,952,308 $ 7,986,749 $ 38,939,057 $ 38,255,560
Other Operating Revenue 1,504,232 14,211 1,518,443 1,368,668
TOTAL OPERATING REVENUE 32,456,540 8,000,960 40,457,500 39,624,228
OPERATING EXPENSES:
Operations and Maintenance 21,675,325 1,304,611 22,979,936 21,252,464
Benefit Payments 0 4,984,700 4,984,700 5,470,846
Professional Services 0 369,134 369,134 277,779
Administrative and General 1,857,490 469,882 2,327,372 2,205,788
Insurance 12,200 432,916 445,116 417,849
Taxes 2,805,983 0 2,805,983 2,782,367
Depreciation 3,594,753 599,956 4,194,709 3,739,436
TOTAL OPERATING EXPENSES 29,945,751 8,161,199 38,106,950 36,146,529
OPERATING INCOME(LOSS) 2,510,789 (160,239) 2,350,550 3,477,699
NON-OPERATING REVENUE(EXPENSE):
Interest Revenue 478,871 228,509 707,380 1,095,779
Gain(Loss)on Sale of Assets 0 71,711 71,711 46,606
Other Non-operating Revenue(Expense) 178,308 259,506 437,814 275,510
Interest Expense (1,460,295) 0 (1,460,295) (1,683,485)
Ile Amortization of Debt Discount and Expense (87,839) 0 (87,839) (91,967)
NON-OPERATING REVENUE NET OF EXPENSES (890,955) 559,726 (331,229) (357,557)
INCOME(LOSS)BEFORE OPERATING TRANSFERS 1,619,834 399,487 2,019,321 3,120,142
to Operating Transfers In(Out) (343,611) 0 (343,611) 1,169,372
NET INCOME(LOSS) 1,276,223 399,487 1,675,710 4,289,514
Depreciation Reducing Grant Contributed Capital 155,212 0 155,212 128,334
IN INCREASE(DECREASE)IN RETAINED EARNINGS 1,431,435 399,487 1,830,922 4,417,848
RETAINED EARNINGS,JANUARY 1 32,532,372 5,613,019 38,145,391 33,790,653
Residual Equity Transfers In(Out) 0 0 0 (63,110)
RETAINED EARNINGS,DECEMBER 31 33,963,807 6,012,506 39,976,313 38,145,391
CONTRIBUTED CAPITAL,JANUARY 1 93,636,376 1,054,934 94,691,310 88,794,110
Capital Grants 2,729,352 0 2,729,352 1,137,956
Amortization on Capital Grants (155,212) 0 (155,212) (128,334)
�I Other Contributed Capital 5,807,292 1,227,443 7,034,735 4,887,578
CONTRIBUTED CAPITAL,DECEMBER 31 102,017,808 2,282,377 104,300,185 94,691,310
FUND EQUITY,DECEMBER 31 $ 135.981.615 $ 8.294.883 $ 144.276.498 $ 132.836.701
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
ft 29
CITY OF RENTON,WASHINGTON ,
COMBINED STATEMENT OF CASH FLOWS-ALL PROPRIETARY FUND TYPES '
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 2) ,
PROPRIETARY FUND TYPES COMPARATIVE TOTALS
INTERNAL (MEMORANDUM ONLY)
ENTERPRISE SERVICE 1999 1998 '
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers $ 30,486,397 $ 0 $ 30,486,397 $ 30,493,775
Cash Received From Other Funds for Goods and Services 396,901 8,017,421 8,414,322 7,782,593
Cash Payments to Suppliers for Goods and Services (16,880,477) (6,883,769) (23,764,246) (21,158,015)
Cash Paid to Other Funds for Goods and Services (3,482,358) (471,654) (3,954,012) (3,998,685)
Cash Paid to Employees (3.655,195) (511,926) (4,167,121) (4,070,411)
Cash Paid for Taxes (1,697,514) 0 (1,697,514) (1,685,411) '
Other Operating Receipts 1,504,232 14,211 1,518,443 1,433,459
Other Non-Operating Receipts 147,982 344,977 492,959 0
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES 6,819,968 509,260 7,329,228 8,797,305
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: '
Operating Transfers From Other Funds (343,611) 0 (343,611) 1,169,372
Repayments on Interfund Loans 0 0 0 (52,680)
NET CASH PROVIDED(USED)BY NONCAPITAL FINANCING ACTIVITIES (343,611) 0 (343,611) 1,116,692
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Payments on Bond Issuance and Registration Fees 3,131 0 3,131 (670,001)
Proceeds From State Long-Term Loans 0 0 0 4,288,567
Proceeds From Sale of Equipment 21,609 71,711 93,320 63,487
Acquisition and Construction of Capital Assets (8,528,961) (2,306,231) (10,835,192) (16,591,169)
Capital Contributions 4,233,901 0 4,233,901 4,887,578
Capital Grants 4,136,577 0 4,136,577 1,137,956
Principal Payments on Bonds (3,203,349) 0 (3,203,349) (1,830,771)
Interest Payments on Bonds (1,964,772) (871) (1,965,643) (1,694,211)
Payments on State Long-Term Loans (283,696) 0 (283,696) (512,265) ,
Residual Equity Transfer In(Out) 0 0 0 (63,1101
NET CASH PROVIDED(USED)BY CAPITAL FINANCING ACTIVITIES (5,585,5601 (2,235,391) (7,820,951) (10,983,939)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments 2,647,540 3,751,656 6,399,196 11,403,725
Payments for Investments (4,384,349) (3,087,703) (7,472,052) (15,941,631)
Interest on Investments 457,060 180,523 637,583 1,173,417
NET CASH PROVIDED(USED)BY INVESTING ACTIVITIES (1,279,749) 844,476 (435,273) (3,364,489)
NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS (388,952) (881,655) (1,270,607) (4,434,431)
CASH AND CASH EQUIVALENTS,JANUARY 1 11,486,553 2,456,130 13,942,683 18,377,114
CASH AND CASH EQUIVALENTS,DECEMBER 31 $ 1 1.097.601 $ 1.574.475 $ 12.672.076 $ 13.942.683
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents $ 4,174,068 $ 1,574,475 $ 5,748,543 $ 7,129,467
Cash Restricted for.
Deposits 33,599 0 33,599 16,623
Revenue Bond Debt Service 5,300,612 0 5,300,612 6,143,306
Construction Account 1,589,322 0 1,589,322 653,287
TOTAL CASH AT THE END OF THE YEAR $ __j1.092401_ $ 1.574.475 $ 12.672.076 $ 13.942.683
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
a1
ft
r
•
30
CITY OF RENTON,WASHINGTON
r
COMBINED STATEMENT OF CASH FLOWS-ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 2)
PROPRIETARY FUND TYPES COMPARATIVE TOTALS
INTERNAL (MEMORANDUM ONLY)
ENTERPRISE SERVICE 1999 1998
RECONCILIATION OF OPERATING INCOME(LOSS)TO NET CASH
PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating Income(Loss) $ 2,510,789 $ (160,239) $ 2,350,550 $ 3,477,699
Adjustments to Reconcile Operating Income(Loss)
to Net Cash Provided(Used)By Operating Activities:
Depreciation and Amortization of Deferred Charge 3,610,753 599,956 4,210,709 3,755.435
Other Non-Operating Revenue 178,308 259,506 437,814 275,510
(Increase) Decrease in Accounts Receivable (391,104) 12,392 (378,712) 34,950
(Increase)Decrease in Due From Other Funds/Governmental (228,026) 65,471 (162,555) (280,257)
(Increase) Decrease in Inventory/Prepaid Items (123,633) 2,727 (120,906) (82,256)
Increase(Decrease)in Vouchers/Contracts/Retainage Payable 839,641 239,403 1,079,044 254,515
Increase(Decrease)in Due to Other Funds/Governmental 24,976 (810) 24,166 (109,868)
Increase(Decrease)in Payables/Other Short Term Liabilities 8,933 41,242 50,175 2,860
Increase(Decrease)in Customer Deposits 35,537 0 35,537 9,610
Increase(Decrease)in Deferred Revenues 286,838 0 286,838 (74,256)
Increase(Decrease)in Accrued Employee Leave Benefits 66,956 5,743 72,699 (36,207)
Increase(Decrease)in Claims Incurred But Not Reported 0 (556,131) (556,131) 1,569,570
Total Adjustments 4,309,179 669,499 4,978,678 5,319,606
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES $ 6.819.968 $ 509.260 $ 7.329.228 $ 8.797.305
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers $ 1,936,868 $ 0 $ 1,936,868 $ 3,494,554
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES $ 1.936.86A $ 0 $ 1.936.868 $ 3.494.554
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
31
CITY OF RENTON, WASHINGTON
FIREMEN'S PENSION TRUST FUND '
STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31,1999 AND 1998
(PAGE 1 OF 1)
1999 1998
ADDITIONS: '
Others Contributions:
Fire Insurance Premiums $ 75,340 $ 61,775
Investment Income:
Interest Revenue 133,662 1,004,349 '
TOTAL ADDITIONS 209,002 1,066,124
DEDUCTIONS:
Benefit Payments 302,775 301,557 '
Administrative and General 6,499 5,942
TOTAL DEDUCTIONS 309,274 307,499
NET INCREASE(DECREASE) (100,272) 758,625
FUND BALANCE RESERVED FOR EMPLOYEES'PENSION BENEFITS: '
FUND BALANCE JANUARY 1 6,994,179 6,235,554
FUND BALANCE DECEMBER 31 $ 6.893.907 $ 6.994,179 '
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
■11
32
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
NOTE 1 -SIGNIFICANT ACCOUNTING POLICIES
The City of Renton was incorporated on September 6, 1901, and operates under the laws of the
State of Washington applicable to a Non-Charter code city with a Mayor/Council form of
government. Renton is served by a full-time Mayor and seven part-time Council members, all
elected at large to four-year terms. The City provides the full range of municipal services
authorized by State law, together with a Municipal Airport, a Waterworks Utility, a Solid Waste
Utility, and a Municipal Golf Course.
The accounting and reporting policies of the City of Renton, which conform to generally
accepted accounting principles for governments, are regulated by the Washington State
Auditor's Office, Division of Municipal Corporations. The City's significant accounting policies are
described in the following notes.
THE REPORTING ENTITY
Based on the criteria of Statement No. 14 of the Governmental Accounting Standards Board
(GASB), the City's Comprehensive Annual Financial Report (CAFR) includes all funds, account
groups, agencies and boards for which the City is financially accountable. Financial
r. accountability is defined as follows: A primary government has substantial authority to appoint
a voting majority of a component unit's board; the primary government has the ability to impose
its will on a component unit; the component unit can provide a financial benefit to, or impose a
financial burden on the primary government; and the component unit is fiscally dependent on
the primary government. The Renton Housing Authority has been excluded because the City
neither reviews its budget nor is obligated to finance any of its deficits. The Mayor does appoint
members to the Housing Authority Board, but the Board is fiscally independent of the City.
BASIS OF PRESENTATION - FUND ACCOUNTING
�s The accounts of the City are organized on the basis of funds and account groups, each of
which is considered a separate accounting entity. Each fund is accounted for with a separate
set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and
expenditures or expenses, as appropriate. The City's resources are allocated to and accounted
for in individual funds according to the purpose for which they are spent and how they are
controlled. The three broad fund categories, seven generic fund types, and two account
groups presented in this report are described below.
Governmental Fund Types
irr All Governmental Funds are accounted for on a spending or"financial flow'measurement focus.
This means that generally only current assets and current liabilities are included on their balance
sheets. Their reported fund balance (net current assets) is considered a measure of "available
spendable resources." Governmental Fund operating statements focus on measuring changes
in financial position, rather than net income; they present increases (revenues and other
financing sources) and decreases (expenditures and other financing uses) in net current assets.
The General Fund is the general operating fund of the City. It accounts for all financial resources
and transactions except those required to be accounted for in another fund.
Special Revenue Funds account for the proceeds of specific revenue sources (other than
special assessments, and major capital projects) that are legally restricted to expenditures for
specified purposes.
r
33
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
Debt Service Funds account for the accumulation of resources for, and the payment of, general
long-term debt principal, interest, and related costs. '
Capital Projects Funds account for financial resources to be used for the acquisition or
construction of major capital facilities other than those financed by Proprietary Funds. '
Proprietary Fund Types
Proprietary Funds are accounted for on a cost of services or "capital maintenance" '
measurement focus. This means that all assets and all liabilities (whether current or non-current)
associated with their activity are included on their balance sheets. Their reported fund equity
(net total assets) is segregated into contributed capital and retained earnings components. '
Proprietary Fund operating statements present increases (revenues and gains) and decreases
(expenses and losses) in net total assets. The Proprietary Fund measurement focus is based upon
determination of net income, financial position, and reporting of cash flows.
Enterprise Funds account for operations that are self-supported through user charges. The
enterprise is financed and operated like a private business enterprise, which requires periodic
determination of revenues earned, expenses incurred, and net income for capital maintenance,
public policy, management controls, and accountability.
Internal Service Funds account for the financing of goods or services provided by one
department or agency to other departments or agencies of the City or to other governments.
Pursuant to GASB Statement Number 20, "Accounting and Financial Reporting for Proprietary
Funds and Other Governmental Entities That Use Proprietary Fund Accounting," the City has
chosen to apply all applicable GASB Pronouncements and only FASB Statements and
Interpretations, Accounting Principles Board Opinions and Accounting Research Bulletins issued
on or before November 30, 1989, unless they conflict with or contradict GASB Pronouncements.
Fiduciary Fund Types
Fiduciary Funds account for assets held by the City in a trustee capacity or as an agent for -
individuals, private organizations, other governments, and other funds. These include
Expendable Trust, Nonexpendable Trust, Pension Trust, and Agency Funds. City of Renton
Fiduciary Funds do not include any Expendable or Nonexpendable Trust Funds.
Pension Trust Funds are accounted for in essentially the same manner as Proprietary Funds.
Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement
of results and operations.
Account Groups
Account Groups are used to establish accounting control over the City's general fixed assets
and general long-term debt. The City uses two account groups.
The General Fixed Assets Account Group accounts for all fixed assets of the City other than those
accounted for in Proprietary Funds. The General Long-Term Debt Account Group accounts for
all long-term debt of the City except that accounted for in the Proprietary Funds.
34
CITY OF RENTON,WASHINGTON
w
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
Comparative Data
Comparative total data for the prior year has been presented in the accompanying financial
statements in order to provide an understanding of changes in the City's financial position and
operations. However, comparative data has not been presented by fund type in each of the
statements since their inclusion would make the statements unduly complex and difficult to
read.
Total Columns on Combined Statements
r
Total columns on the combined statements are presented only to facilitate financial analysis.
Data in these columns do not present financial position, results of operations, or the reporting of
cash flows in conformity with generally accepted accounting principles. The data is also not
comparable to a consolidation. Interfund eliminations have not been made in the aggregation
of the data.
BASIS OF ACCOUNTING
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the
accounts and reported in the financial statements.
Modified Accrual Basis of Accounting
r
The modified accrual basis of accounting is followed in all Governmental Funds and Agency
Funds. Under the modified accrual basis of accounting, revenues are recorded when
susceptible to accrual, i.e., both measurable and available. Available means collectible within
the current period or soon enough thereafter to pay current liabilities. Specific major revenue
sources subject to accrual are discussed below.
The portion of property taxes receivable at year-end that are received in January for the prior
year's levy are recorded as revenue. The remaining balance is not normally expected to be
collected within 30 days after the current period and is, therefore, reported as deferred revenue.
,. Grant revenues from cost reimbursement grants are considered earned and therefore available
when the expenditure is incurred, in accordance with NCGA Statement 2. Interest on
investments is recorded as revenue when earned. Special assessments and charges for services
are recorded as revenue when billed and due within 30 days. Revenue sources which are not
considered to meet the measurable and available criteria for revenue recognition include
licenses and permits, fines and forfeitures, and other miscellaneous revenues since they are
generally not measurable until received.
Under the modified accrual basis, expenditures are recorded when the fund liability is incurred,
except for principal and interest on general long-term debt, which are recorded when due.
,. Purchases of fixed assets out of Governmental Funds are treated as expenditures during the year
incurred and the assets are capitalized in the General Fixed Assets Account Group. Long-term
liabilities, including vacation pay not currently due and payable, are accounted for in the
General Long-Term Debt Account Group, except for long-term liabilities accounted for in the
Proprietary Funds.
Accrual Basis of Accounting
ir.
The accrual basis of accounting is followed in all Proprietary Funds and the Pension Trust Fund.
Revenues are recognized when earned and expenses are recognized when incurred.
rrr
35
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
The revenues of the Waterworks and Solid Waste Utilities, which are based upon service rates
authorized by the City Council, are determined by monthly billings to customers. Revenues of the '
Golf Course are based on user fees, and Airport revenue is based on lease agreements. Earned
but unbilled revenues at year-end are accrued and reported in the financial statements. Fixed
asset purchases are capitalized, and long-term liabilities are accounted for in the appropriate
funds.
BUDGETS AND BUDGETARY ACCOUNTING
The City of Renton budgets its funds in accordance with the Revised Code of Washington (RCW) '
35A.33. In compliance with the Code, annual appropriated budgets are adopted for the
General, Special Revenue, Debt Service and Capital Projects Funds. Any unexpended '
appropriations lapse at the end of the fiscal year. For Governmental Funds, there are no
substantial differences between the budgetary basis and generally accepted accounting
principles. Budgetary accounts are integrated in fund ledgers for all budgeted funds, but the
financial statements include budgetary comparisons for annually budgeted Governmental
Funds only. Budgets established for Proprietary and Trust Funds are "management budgets,"and
are not legally required to be reported.
Annual appropriated budgets are adopted at the fund level. Subsidiary revenue and
expenditure ledgers are used to compare the budgeted amounts with actual revenues and
expenditures. As a management control device, the subsidiary ledgers monitor expenditures for
individual functions and activities by object class.
The City of Renton's budget procedures are mandated by RCW 35A.33. The steps in the budget
process are as follows: 1) Prior to November 1, the Mayor submits a proposed budget to the City
Council. This budget is based on priorities established by the Council and estimates provided by
the City departments during the preceding months, and balanced with revenue estimates
made by the Mayor. 2) The City Council conducts public hearings on the proposed budget in
November and December. 3) The Council makes its adjustments to the proposed budget and
adopts by ordinance a final balanced budget no later than December 31. 4) The final
operating budget as adopted is published and distributed within the first four months of the
following year. Copies of the budget are made available to the public.
Transfers or revisions within funds are allowed, but only the City Council has the authority to •�
increase or decrease a given fund's annual budget. This is accomplished by City ordinance.
The budget was amended three times during 1999. Budget amounts presented in the basic
financial statements include the original amounts, after all transfers and adjustments, as
approved by the City Council.
Encumbrances
An encumbrance system is maintained to account for commitments resulting from approved
purchase orders, contracts, and other commitments. Encumbrances remaining at year-end
lapse and are canceled. Upon request by the department and approval of the City Council,
encumbrances may be reappropriated in the following year. At year-end, the City had
encumbrances of $4,431,392.
ASSETS, LIABILITIES AND FUND EQUITY
Cash & Cash Equivalents
All highly liquid investments (including restricted assets) with a maturity of three months or less
when purchased are considered cash equivalents. Included in this category are all funds
36
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
■r
invested in the Local Government Investment Pool and Municipal Investors Account. Excluded
from this category are cash balances held by Fiscal Agents since the City does not have
ow discretionary use of these funds. Cash held by Fiscal Agents is included in an investment type
account.
Investments
The City of Renton invests all short-term cash surpluses. A Surplus Bank Balance Fund is
maintained to account for these residual investments and earnings are allocated to the General
aw Fund. Investments are also held separately by several of the funds with interest earned directly
for the benefit of each fund. Investments are reported on the financial statements at fair value
as required by the Governmental Accounting Standards Board (GASB) Statement No. 31.
r Washington State statutes provide for the City to hold investments consisting of obligations of the
Federal government, repurchase agreements, prime banker's acceptances, and time
certificates of deposit issued by Washington State depositories that participate in the
Washington State Public Depository Protection Commission (WPDPC). The WPDPC is a multiple
financial institution collateral pool administered by the Washington Public Deposit Protection
Commission. Additional deposit and investment information is presented in Note 3.
Inventories
Inventories carried in Proprietary Funds are valued at average cost which approximates the
market value. The inventory in the Waterworks Utility Fund is charged out at average cost plus a
20% handling fee when issued, and the inventory in the Equipment Rental Fund is issued at
average cost. The inventory at the Golf Course is the merchandise that is sold to the public. This
rr inventory is valued at actual cost. A physical count is taken at year-end at all inventory
locations. Governmental Funds use the purchase method whereby inventory items are
considered expenditures when purchased. The amount outstanding at year-end is immaterial
and is, therefore, not included on the balance sheet.
Property Taxes Receivable
an The County Finance Director acts as an agent to collect property taxes levied in the county for
all taxing authorities. Taxes are levied annually on January 1 on property value listed as of the
prior August 31. Assessed values are established by the County Assessor at 100% of fair market
value. A revaluation of all property is required every two years, however King County has the
ability to revalue annually.
Property taxes levied by the County Assessor and collected by the County Finance Director
• become a lien on the first day of the levy year and may be paid in two equal installments if the
total amount exceeds $30. The first half of real property taxes is due on April 30 and the balance
is due October 31. Delinquent taxes bear interest at the rate of 12% and are subject to
�. additional penalties if not paid as scheduled.
At year-end, property taxes are recorded as a receivable with the portion not expected to be
collected within 30 days offset by deferred revenue. During the year, property tax revenues are
recognized when cash is received.
The tax rate for general City operations is limited to $3.60 per $1,000 of assessed value. Of this
amount, up to $.45 per thousand may be designated for contribution to the Firemen's Pension
Fund if a report by a qualified actuary indicates that additional funds are required.
The payment of principal and interest on Limited Tax (non-voted) Bonds issued by the City is
made from the general levy. Accordingly, the issuance of Limited Tax General Obligation Bonds
rrr
37
CITY OF RENTON,WASHINGTON
,w.
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
has the effect of reducing property taxes available for the general operations of City
government. In 1999, the City levied $3.42726 per $1,000 of assessed valuation for general '
purposes.
State law also provides that the City's operating levy may not exceed 106% of the largest single ,
levy of the past three years. The State Constitution provides that the total of all taxes upon real
and personal property by the State and all taxing entities, including the City, shall not in any year
exceed 1% ($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 the City voters at an election in which
the total vote exceeds 40% of the votes cast at the last preceding general election.
For 1999, the City's general tax levy was $3.42726 and the excess levy for Unlimited General ,
Obligation Bonds issued for the construction of Gene Coulon Memorial Beach Park and Senior
Housing was $0.31981. A total of $3.74707 per $1,000 on a total assessed valuation of
$4,258,500,750 per the King County Assessor's 1999 Annual Report. '
Estimated and actual property tax revenue is compared in the following table:
TABLE 1: PROPERTY TAX LEVY
ESTIMATED ACTUAL
ITEM PROPERTY TAXES PROPERTY TAXES VARIANCE '
General Levy $ 14,488,101 $ 14,276,439 $ (211,662)
Excess Levy 1,340,000 1,318,988 (21,012)
TOTAL $ 15,828,101 $ 15,595,427 $ (232,674) '
Assessments Receivable
Unpaid special assessments receivable is reported in three accounts: current, delinquent, and A
deferred. Current assessments are those due within one month; delinquent assessments are past
due; and deferred assessments are due beyond one month. Revenue from the assessments is
recognized as it becomes current - that is, both measurable and available to finance
expenditures of the current period.
Fixed Assets and Depreciation
The accounting and reporting treatment applied to the fixed assets associated with a fund are
determined by its measurement focus. Fixed assets acquired in Governmental Funds are
accounted for as expenditures in the fund when the assets are purchased and are capitalized in
the General Fixed Asset Account Group at historical cost. Where historical cost is not known,
assets are recorded at estimated historical cost. Donated assets are valued at estimated fair
market value at the time received. Infrastructure such as roads, bridges and curbs are
considered public property and are not capitalized in the General Fixed Assets Account Group.
Governmental Fund assets are not depreciated.
Fixed assets of the Enterprise and Internal Service Funds are recorded at historical cost, and are
accounted for in their respective funds. Capital contributions are recorded as contributed
capital and the assets are capitalized at their estimated fair market value at the date of
donation.
Fixed assets used by Proprietary Funds are depreciated and the accumulated depreciation is
reported in Proprietary Fund Balance Sheets. Annual depreciation is recorded as an expense of
the fund. Depreciation is computed using the straight-line method over estimated service life as
follows:
38
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 2: FIXED ASSET SERVICE LIFE
ESTIMATED
ASSET SERVICE LIFE
Building 25-50 years
Non Building Improvement 25-50 years
Utility Plant 25-75 years
Equipment 3-20 years
*See Note 7 for additional information
Accumulated Unpaid Vacation and Sick Pay
Labor contracts with City of Renton employees call for the accumulation of vacation and sick
leave. At termination of employment, employees with the required length of service may
receive cash payments for all accumulated vacation leave to a maximum of 432 hours. Sick
.. leave termination benefits are based on a percentage of accumulated sick leave up to a
maximum of 480 hours. The payment is based on current wages at termination and date of hire.
Accumulated amounts of vacation leave and related benefits are accrued as expenses when
incurred in Proprietary Funds. The current portion of the Enterprise Funds, $34,217, and the
Internal Service Funds, $3,712 is included with the current liability accounts Accrued Wages
Payable and Accrued Employee Benefits Payable. In Governmental Funds, only the current
portion of the yearly accrual (based on last in-first out formula) left unpaid at the end of the
fiscal year is recorded as fund liability and expenditure. The remainder of the liability is reported
in the General Long-Term Debt Account Group. This reporting format is in compliance with GASB
Statement 16. At year-end 1999, the Governmental Funds recorded current liabilities of $299,816
on the respective balance sheets and a long-term liability for the non-current portion of
accumulated vacation and related benefits in the amount of $2,309,713 in the General Long-
Term Debt Account Group. The unpaid liability in the Proprietary Funds at December 31 was
$246,585.
Accumulated sick leave and related benefits are also based on GASB Statement 16 which calls
for accrual of Proprietary Fund liabilities and inclusion of Governmental Fund liabilities in the
General Long-Term Debt Account Group. These amounts at December 31, 1999, were $194,291
and $2,051,845, respectively. The following table details the total vacation and sick leave liability:
TABLE 3: EMPLOYEE LEAVE PAYABLE
ITEM CURRENT LONG-TERM TOTAL
General Governmental Fund $ 299,816 $ 0 $ 299,816
General Long-Term Debt 0 4,361,558 4,361,558
Proprietary Fund 37,929 440,876 478,805
TOTAL LEAVE BENEFITS $ 337,745 $ 4,802,434 $ 5,140,179
w Fund Equity - Reserves and Designations
The City recognized in its reporting that assets are sometimes not "available spendable
resources" or at times legally available for appropriations, because they are contractually or
legally restricted for some specific future use. When this is the case, as for example with debt
service, fund equity is "reserved." However, when management sets aside portions of fund
equity based upon tentative future plans or for administrative convenience, these restrictions are
39
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999 ,
reported as "designations" of unreserved fund equity. Designation is not used in Proprietary
Funds. ,
Direct Charges/Credits to Enterprise Funds Retained Earnings
The Airport Fund has credited $155,212 directly to retained earnings, representing the retirement f
of Federal and State contributed capital for the current year.
Risk Management and Risk Retention
It is the City of Renton's policy to self-insure first level coverages for property, liability, worker's
compensation, and employee medical coverages. For mid-level and catastrophic losses the '
City purchases both commercial insurance coverage, and reserves the right to invoke provisions
of RCW 35A.31.060, which allows cities to levy a non-voted property tax increase to pay for
uninsured claims. As of December 31, 1999, the Insurance Fund's unreserved retained earnings ,
totaled $1,876,858. See Note 17 for additional information.
NOTE 2 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY ,
There have been no material violations of finance related legal or contractual provisions.
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. Investments are also held separately by several of '
the funds with interest earned directly for the benefit of each fund.
DEPOSITS '
All deposits are covered entirely by Federal Depository Insurance (FDIC) or by collateral held in
a multiple financial institution collateral pool administered by the Washington Public Deposit
Protection Commission (WPDPC). The FDIC insures the City's deposits up to $100,000, and the
WPDPC insures amounts over $100,000. The WPDPC provides for additional assessments against
members of the pool on a pro rata basis. Accordingly, the deposits covered by WPDPC are
considered to be insured and classified as risk category 1. The City had $61,995,310 in cash and
investments at year-end, which consisted of $20,880,514 in the State Investment Pool and
Municipal Investors Account, $39,837,153 in other investments, and $14,745 in petty cash. All
cash in excess of current requirements was invested at year-end with bank deposits reporting a
cash balance of $1,277,643. Table 4 displays the breakdown of cash and deposits by type of
deposits and by fund type.
40
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 4: RECONCILIATION OF CASH AND INVESTMENTS BY FUND GROUP
STATE TOTAL ALL CHANGE IN
r INVESTMENT RESTRICTED CASH&CASH RESTRICTED FAIR VALUE OF TOTAL CASH&
FUND GROUP CASH POOL/MIA" CASH EQUIVALENTS INVESTMENTS INVESTMENTS INVESTMENTS INVESTMENTS
General $ (5,884,909) $ 6,632,747 $ 109,080 $ 856,918 $ 5,000,000 $ 0 $ (22,352) $ 5,834,566
Special Revenue 429,476 1,605,000 0 2,034,476 1,350,000 0 (8,821) 3,375,655
Debt Service 451,478 2,390,000 0 2,841,478 50,000 0 (445) 2,891,033
Capital Projects 973,859 3,340,000 0 4,313,859 16,841,406 0 (91,319) 21,063,946
Enterprise (825,932) 5,000,000 5,303,845 9,477,913 5,480,735 1,668,796 (49,108) 16,578,336
Internal Service 336,475 1,238,000 0 1,574,475 4,337,703 0 (40,525) 5,871,653
Trust&Agency 250,156 674,767 0 924,923 5,108,513 0 346,685 6,380,121
TOTAL $ (4,269,397) $ 20,880,514 $ 5,412,925 $ 22,024,042 $ 38,168,357 $ 1,668,796 1 134,115 $ 61,995,310
' Municipal Investor Account
INVESTMENTS
Washington State statutes provide for the City to hold investments consisting of obligations of the
Federal government, repurchase agreements, prime banker's acceptances, and time
certificates of deposit with authorized Washington State savings and loan institutions.
Additionally, the Firemen's Pension Fund is authorized to invest in mutual funds and obligations of
the Federal, State, and Local government-owned public utilities. All investments are valued at
�. fair value as of December 31, 1999. The fair value of the positions in the State Investment Pool
and Municipal Investor Account is the same as the value of the pool shares. The State
Investment Pool is managed by the Treasurer of the State of Washington and the Municipal
Investor Account is managed by U.S. Bank.
The City of Renton's investments are categorized to give an indication of the risk assumed at
year-end. 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 which are held by the counterparty's trust department or agent in the City's name.
Category 3 includes uninsured and unregistered investments which are held by the
counterparty's trust department or agent, but not in the City's name. At the end of the year, the
City had no investments in category 3.
, TABLE 5: CLASSIFICATION OF INVESTMENTS AS OF DECEMBER 31, 1999
CARRYING MARKET
ITEM CATEGORY 1 CATEGORY 2 AMOUNT VALUE
US Government $ 31,738,881 $ 98,272 $ 31,837,153 $ 31,971,268
Certificates of Deposit 8,000,000 0 8,000,000 8,000,000
TOTAL INVESTMENTS $ 39,738,881 $ 98,272 $ 39,837,153 $ 39,971,268
NOTE 4 - DEFERRED COMPENSATION
The City offers its employees a deferred compensation plan created in accordance with Internal
Revenue Code Section 457. This plan is administered by the Hartford Life Insurance Company
and the ICMA Retirement Corporation. The plans are available to all City employees which
permits them to defer a portion of their salary until future years. The deferred compensation is
not available to employees until termination, retirement, death, or unforeseeable emergency.
,a
41
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
Compensation deferred under the plans and all income attributable to the 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 paid to the employee or other beneficiary and are not restricted
to the benefit provisions under the plan. The deferred compensation plans investments are
recorded at fair value, along with the corresponding liabilities in the deferred compensation ,
fund. At December 31, 1999, the market value of the plans assets were $20,437,037.
It is the opinion of the City's legal counsel that the City has no liability for losses under the plan
but does have the duty of due care that would be required of an ordinary prudent investor. The '
City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in
the future.
i
NOTE 5 - RECEIVABLES AND PAYABLES
Table 6 details the specific receivables and payables at December 31, 1999. The City provides ,
reserves for potentially uncollectible water, wastewater, storm, metro, solid waste utility, and
airport charges. At December 31, 1999, these reserve balances were $86,613.
TABLE 6: NET RECEIVABLES AND PAYABLES
SPECIAL DEBT CAPITAL INTERNAL TRUST b
ITEM GENERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE AGENCY TOTAL
RECEIVABLES:
Taxes $ 323,826 $ 0 $ 30,424 $ 0 $ 0 $ 0 $ 0 $ 354,250
Accounts 3,498,467 24,979 0 0 3,137,751 5,652 0 6,666,849
Notes 0 0 0 0 21,673 0 0 21,673
Special Assess-Current 0 0 134 0 0 0 0 134
Special Assess-Delinquent 0 0 3,461 0 0 0 0 3,461
Special Assess-Deferred 0 0 1,380,071 0 0 0 0 1,380,071
Interest-Special Assess 0 0 1,356 0 0 0 0 1,356
Interest on Investments 224,574 9,253 478 145,917 60,007 132,802 718,722 1,291,753
TOTAL ALL FUND TYPES $4,046,867 $ 34,232 $1,415,924 $ 145,917 $3,219,431 $ 138,454 $ 718,722 $9,719,547
PAYABLES:
Matured Interest Payable $ 0 $ 0 $ 397,000 $ 0 $ 0 $ 0 $ 0 $ 397,000
Accrued Interest Payable 0 0 0 0 293,296 0 0 293,296
Accrued Wages Payable 0 0 0 0 30,483 3,307 0 33,790
Accrued Benefits Payable 2,027 0 0 0 3,734 405 163 6,329
Accrued Taxes Payable 1,396 6,469 0 1,229 101,694 267 0 111,055
TOTAL ALL FUND TYPES $ 3,423 $ 6,469 $ 397,000 $ 1,229 $ 429,207 $ 3,979 $ 163 $ 841,470
Note Receivable: Table 6 details the current portion of the note receivable in the amount of
$21,673 due from the Golf Course Concessionaire. The non-current portion of this receivable is ,-
$44,514.
42 '
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
INTERFUND RECEIVABLES AND PAYABLES
TABLE 7: INTERFUND RECEIVABLES AND PAYABLES
ITEM DUE FROM DUE TO
GENERAL FUND $ 9,203 $ 180,716
SPECIAL REVENUE FUNDS:
Street Fund 33,635 0
Comm Dev Block Grants 0 178,321
Total Special Revenue Funds 33,635 178,321
DEBT SERVICE FUNDS:
1983 Unlimited GO Refund 477 0
General Government Misc. Debt 89,960 0
1989 Unlimited GO 318 0
Total Debt Service Funds 90,755 0
CAPITAL PROJECT FUNDS:
Municipal Facilities Construction 288,281 0
Capital Improvement Fund 0 37,882
Total Capital Project Funds 288,281 37,882
ENTERPRISE FUNDS:
Waterworks Utility Fund 736 25,691
Airport Fund 0 20,000
Total Enterprise Funds 736 45,691
INTERNAL SERVICE FUNDS:
Insurance 20,000 0
Total Internal Service Funds 20,000 0
TOTAL ALL FUND TYPES $ 442,610 $ 442,610
INTERFUND LOANS/ADVANCES RECEIVABLE & PAYABLE
The following is a reconciliation of the $675,000 interfund loans and advances of which $0 is
current and $675,000 is long term:
TABLE 8: INTERFUND LOANS/ADVANCES - RECEIVABLE AND PAYABLE
INTERFUND LOANS/ADVANCES
FUND RECEIVABLE PAYABLE
GENERAL FUND $ 75,000 $ 0
SPECIAL REVENUE FUNDS:
Community Development Block Grant 0 75,000
CAPITAL PROJECTS FUNDS:
Municipal Facilities Construction 600,000 0
Leased City Properties 0 600,000
TOTAL ALL FUND GROUPS $ 675,000 $ 675,000
43
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
INTERGOVERNMENTAL RECEIVABLES
At December 31, 1999, the receivables from other governmental units included federal, state ,
and local grants receivable of $3,060,286, and a miscellaneous receivable amounting to
$314,556, from Bryn Mawr-Lakeridge Water & Sewer District for their 25% share of a water joint ,
facilities project.
TABLE 9: DUE FROM OTHER GOVERNMENTAL UNITS
SOURCE AMOUNT ,
GRANTS:
Federal Emergency Management Agency 31,746 '
WA Department of Transportation 1,862,399
King County 1,166,141
Subtotal-All Grants 3,060,286 '
OTHER GOVERNMENTAL RECEIVABLES:
Bryn Mawr-Lakeridge Water&Sewer 314,556
TOTAL DUE ALL GRANTS $ 3,374,842 '
INTERGOVERNMENTAL PAYABLES
A total of $2,267,052 was recorded as due to other governmental units at December 31, 1999.
This included: 1) $1,616,397 for the portion of Municipal Court's outstanding receivables for bail
due to the State; 2) $584,278 to the Washington State Department of Community Development
for current portion due on Public Works Trust Fund loans; and 3) $66,377 to King County for the
Cedar River Trunk Relocation.
NOTE 6 - RESIDUAL EQUITY AND OPERATING TRANSFERS
Interfund transfers are classified as either residual equity transfers or operating transfers. Residual
equity transfers are direct additions or subtractions to fund balance/fund equity. Contributions
to Proprietary Funds are recorded as contributed capital in those funds. Operating transfers are
accounted for as "other financing sources or uses"and are included in the operating statements.
TABLE 10: RESIDUAL EQUITY TRANSFERS
FUND TRANSFER IN TRANSFER OUT
General $ 0 $ 7,839
Park 7,839 0
Impact Mitigation 0 6,316,598
Special Assessment Debt 1,538 0
Comm Dev Impact Mitigation 569,733 0
Fire Impact Mitigation 2,916,766 0
Transp Impact Mitigation 2,830,099 0
Special Assessment Construction 0 1,538
TOTAL TRANSFERS $ 6,325,975 $ 6,325,975
44
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 11: OPERATING TRANSFERS
FUND TYPE TRANSFERS IN TRANSFERS OUT
GENERAL GOVERNMENTAL:
General $ 0 $ 2,107,458
Arterial Street 0 343,180
Street 4,468 365,000
General Governmental Debt 399,501 0
Special Assessment Guaranty 0 200,000
Comm Dev Impact Mitigation 200,000
Transportation Impact Mitigation 767,341 43,268
Municipal Facilities 2,447,100 0
Capital Improvements 751,448 767,341
PROPRIETARY FUNDS:
Waterworks Utility 0 82,080
Golf 0 261,531
TOTALS $ 4,369,858 $ 4,369,858
NOTE 7 - FIXED ASSETS
General Fixed Assets are long lived assets of the City as a whole. When purchased, leased, or
constructed, such assets are recorded as expenditures in the Governmental Funds and
capitalized in the General Fixed Assets Account Group. All fixed assets are valued at historical
cost, estimated historical cost, or fair market value at time of donation. Depreciation has not
been provided on general fixed assets, nor has interest been capitalized. Infrastructure assets
are considered public property and are not accounted for in the General Fixed Assets Account
Group. At the end of 1999, nine 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 1999 and the Construction Work In Progress at the end of the year.
TABLE 12: CHANGES IN GENERAL FIXED ASSETS
BEGINNING ENDING
ASSET BALANCE ADDITIONS DELETIONS BALANCE
Land $ 27,851,143 $ 568,005 $ 80,000 $ 28,339,148
Buildings 34,614,873 23,636,244 0 58,251,117
Non-Building Improvements 15,807,395 1,302,929 82,563 17,027,761
Equipment 8,508,149 2,117,332 207,939 10,417,542
Construction in Progress 15,886,283 6,854,164 19,728,327 3,012,120
Joint Venture 1,719,302 248,896 0 1,968,198
TOTAL $ 104,387,145 $ 34,727,570 $ 20,098,829 $ 119,015,886
45
CITY OF RENTON,WASHINGTON ,
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999 ,
TABLE 13: CONSTRUCTION WORK IN PROGRESS
ESTIMATED ,
REMAINING ESTIMATED
PROJECT COST TO DATE COSTS TOTAL COST
Port Quendall $ 223,329 $ 108,021 $ 331,350 '
Removal of Henry Moses Pool 716 109,284 110,000
Highlands Community Center 168,776 865,224 1,034,000
Highlands Annex Acq./Demolition 5,350 194,650 200,000 '
Pipeline Parking Lot 196,117 8,883 205,000
City Hall Flood Wall 11,123 148,877 160,000
Main 8,Grady Ramp Project 1,435,393 729,607 2,165,000 '
Piazza/Gateway/Pavilion Improvements 967,816 311,684 1,279,500
Fire Station Improvements(FS#15) 3,500 96,500 100,000
TOTAL $ 3,012,120 $ 2,572,730 $ 5,584,850 '
Fixed assets of Proprietary Funds are capitalized in their respective balance sheets. These assets
are stated at cost, estimated cost when original cost is not available, or fair market value at the ,
time received in the case of contributions. Depreciation expense is charged to operations of
Proprietary Funds to allocate the cost of fixed assets over their estimated useful lives, using the
straight-line method with useful lives of 3 to 75 years. '
The City's policy is to capitalize net interest on Proprietary Fund 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 1999, interest
costs incurred on construction projects in Proprietary Funds were not material. ,
Table 14 provides a summary of Proprietary Fund property, plant, and equipment as of
December 31, 1999. '
TABLE 14: PROPRIETARY PROPERTY, PLANT, & EQUIPMENT
SOLID GOLF TOTAL '
WATERWORKS AIRPORT WASTE COURSE TOTAL EQUIPMENT INTERNAL
ASSET UTILITY FUND UTILITY FUND ENTERPRISE RENTAL INSURANCE SERVICE
Land $ 3,509,040 $ 784,080 $ 0 $2,683,200 $ 6,976,320 $ 0 $ 0 $ 0
Buildings 8,348,267 489,995 0 4,008,725 12,846,987 0 0 0
Equipment 4,280,692 70,215 492,477 848,653 5,692,037 7.924,562 93,000 8,017,562 ..
Other Improvements 150,513,802 8,757,491 0 2,869,803 162,141,096 0 0 0
Construction Work in Progress 8,241,727 1,075,712 0 0 9,317,439 0 0 0
TOTAL ASSETS $174,893,528 $11,177,493 $ 492,477 $10,410,381 $196,973,879 $7,924,562 $ 93,000 $ 8,017,562 +�
Less Accumulated Depreciation 36,385,860 6,356,281 410,831 1,547,520 44,700,492 3,266,872 11,609 3,278,481
NET PROPERTY,PLANT,&EQUIPMENT $138,507,668 $ 4,821,212 $ 81,646 $8,862,861 $152,273,387 $4,657,690 $ 81,391 $ 4,739,081
CONTRIBUTED CAPITAL RETIREMENT
The Airport Fund has $6,643,073 of contributed capital that includes $6,503,473 of Federal,
$53,775 of State, and $85,825 of private sources which is being retired on an annual basis. The
unamortized balance as of December 31, 1999, was $2,100,286.
The Airport is the only fund that amortizes its contributed capital at this time. The Waterworks
Utility Fund has $98,339,131 of contributed capital, the Solid Waste Utility Fund has$166,166, the
46
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
Golf Course Fund has $1,412,225, and the Equipment Rental Fund has $2,282,377. These funds'
contributed capital are not being retired.
NOTE 8 - PREPAID ITEMS
The General Fund has recorded $8,000 of prepaid items at December 31, 1999. This amount
represents prepaid postage charges to be expensed in 2000. The Airport Fund has recorded
$20,000 of prepaid items at December 31, 1999. This amount represents an insurance premium
paid prior to year end for the following year. The Insurance Fund has recorded $3,156 of prepaid
items at December 31, 1999. This amount represents a $3,000 revolving fund established to pay
claims by our insurance broker and $156 for prepaid medical benefits.
NOTE 9 - JOINT VENTURE
" The "Valley Communications Center" was established August 20, 1976, when an Interlocal
Agreement was entered into by the four participating municipal corporations, including the
cities of Renton, Kent, Auburn, and Tukwila. The agreement is sanctioned by the provisions and
. terms of the "Interlocal Cooperation Act" pursuant to RCW 39.34. The initial duration of the
agreement was five years, and thereafter is automatically extended for consecutive two-year
periods, unless terminated by one or more of the participating cities. Any such termination must
- be in writing and served upon the other cities on or before July 1 in any one year, and such
termination shall then become effective on the last day of such year.
The purpose of the joint operation, hereafter referred to as Valley-Com, is to provide improved
consolidated emergency communications (dispatch) services for police, fire, and medical aid,
to the four participating cities and to the several subscribing agencies, which include King
County Fire Districts #2, #17, #20, #26, #40, #43, #44, #46, #47; City of Pacific Police and Fire
Departments, City of Algona Police Department, City of Des Moines Police Department, City of
Black Diamond Police Department, City of Federal Way Police Department, and King County
EMS Units. Separate agreements between Valley-Com and the subscribing agencies have been
executed, which set forth conditions of services and rates charged.
The allocation of prorated financial participation arnong the four participating cities is the
percentage of dispatched calls attributed to each jurisdiction compared to the total estimated
dispatched calls, for the current twelve month period ending December 31. The percentages
are applied to the current approved budget, less revenue from all other sources. Distribution of
current year net income is based on the same percentages. The 1999 cost distributions for the
four participating cities were as follows:
TABLE 15: JOINT VENTURE COST DISTRIBUTION
DISPATCHABLE PERCENT 1999
CITY CALLS OF TOTAL ASSESSMENTS
Renton 56,842 23.84% $ 832,984
Kent 84,042 35.24% 1,231,307
Auburn 56,500 23.70% 828,093
Tukwila 41,050 17.22% 601,678
TOTAL 238,434 100.00% $ 3,494,062
47
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
Valley-Com is governed by an Administration Board, composed of the Mayors or designated
representatives from the four participating cities of Renton, Kent, Auburn, and Tukwila. The
Administration Board is responsible for the following functions: 1) Budget review and
recommendations to the legislative bodies of the participating cities, and budget adoption
after each legislative body has approved the required financial participation for the ensuing '
year; 2) Approve appointment and/or discharge of the Director; 3) Approve personnel policy
and make final decisions on all major policy changes; and, 4) Review and approves all
contracts.
In addition, an Operations Board provides direction, and consists of two members of each '
participating city's Public Safety Departments, including the heads of such departments or their
designees. The Operations Board performs the following functions: 1) Oversee the operation of
Valley-Com, and advise and make recommendations to the Administration Board; 2) Make
recommendations on Director selection; 3) Present proposed policies and budgets to the
Administration Board; and, 4) Approve disbursement of funds by the Director.
The Director presents a proposed budget to the Operating Board on or before August 15 of
each year. Said budget is then presented to the Administrative Board by September 1 of each
year. The Administrative Board can make changes to the proposed Valley-Com budget as it
finds necessary, but final approval falls to the legislative body of each participating city, in
accordance with the provisions of the Interlocal Agreement.
Tables 16 and 17 show the condensed financial position as of December 31, 1999, and the results ,
of operation and changes in retained earnings for the year ended 1999. Audited 1999 financial
statements are available from Valley-Com.
TABLE 16: BALANCE SHEET
ITEM AMOUNT
ASSETS:
Current Assets $ 6,764,926
Property, Plant,and Equipment 7,955,200
TOTAL ASSETS $ 14,720,126
LIABILITIES AND FUND EQUITY:
Current Liabilities $ 359,376
Long-Term Liabilities 189,219
TOTAL LIABILITIES 548,595
Retained Earnings 7,194,191
Contributed Capital 6,977,340
TOTAL FUND EQUITY 14,171,531
TOTAL LIABILITIES AND FUND EQUITY $ 14,720,126
48
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 17: STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS
ITEM AMOUNT
OPERATING REVENUE:
Intergovernmental Charges $ 5,965,877
Other Operating Revenue 2,900
Total Operating Revenue 5,968,777
OPERATING EXPENSES: 5,198,452
Net Operating Income 770,325
NON-OPERATING REVENUE(EXPENSES)
Interest and Miscellaneous Revenue 322,988
Total Non-Operating Revenue(Expenses) 322,988
Net Income(Loss) 1,093,313
Retained Earnings at Beginning of Year 6,100,878
Retained Earnings at End of Year 7,194,191
Contributed Capital 121,406
800-Mhz Contributed Capital 6,855,934
TOTAL FUND EQUITY AT END OF YEAR $ 14,171,531
The share of equity belonging to the four participating cities is shown in Table 18 below.
Liabilities are the responsibility of the four participating cities in direct proportion to their equity
` position.
TABLE 18: JOINT VENTURE EQUITY
ITEM RENTON KENT AUBURN TUKWILA TOTAL
Equity January 1, 1999 $ 1,719,302 $ 1,976,089 $ 1,440,042 $ 1,136,138 $ 6,271,571
Current Year Increase 248,896 367,915 247,434 179,781 1,044,026
Equity December 31, 1999 $ 1,968,198 $ 2,344,004 $ 1,687,476 $ 1,315,919 $ 7,315,597
Percent of Equity 26.90% 32.04% 23.07% 17.99% 100.00%
Percent of 1999 Distribution 23.84% 35.24% 23.70% 17.22% 100.00%
An agreement between the City of Kent and Valley-Com was established February 18, 1993, to
provide for Valley-Com's purchase of an 800-megahertz radio system and mobile data terminal
system developed by the City of Kent. The agreement was paid off in 1996. The 800-Megahertz
system is to be incorporated into the County 800-Mhz system that is currently under
development.
In August 1993, Valley-Com entered into an interlocal cooperation agreement, pursuant to RCW
39.34, with the subregions of King County, Seattle, the Eastside Public Safety Communications
Agency and the Port of Seattle. This agreement governs the development, acquisition and
installation of the 800-megahertz emergency radio communications system funded by a $57
million King County levy approved in November 1992. This agreement provides that, upon
voluntary termination of any subregion's participation in the system, it surrenders its radio
frequencies, relinquishes its equipment and transfers any unexpended levy proceeds and
associated equipment replacement reserves to another subregion or consortium of subregions.
In accordance with this agreement, the participating cities of Valley-Com have no equity
interest in Valley-Corn's 800-megahertz contributed capital (King County levy distribution and
interest earned) of$6,855,934 as of December 31, 1999.
49
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
NOTE 10 - PENSION PLAN & OTHER POST EMPLOYMENT BENEFITS
All of the City's full-time and qualifying part-time employees participate in 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 Retirement Systems; and 3) The
Firemen's Pension System established and administered by the City according to State statute.
The City's total payroll for all employees was$32,268,680 for the year ended December 31, 1999.
TABLE 19: PERS AND LEOFF INFORMATION BY PLAN '
PERS PLAN I PERS PLAN II LEOFF PLAN 1 LEOFF PLAN II '
(MEMBERSHIP (MEMBERSHIP (MEMBERSHIP (MEMBERSHIP
PRIOR TO ON OR AFTER PRIOR TO ON OR AFTER
ITEM 10/1/77) 10/1/77) 10/1/77) 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/any age 65/55* 50 58/50
EMPLOYEE CONTRIBUTION:
Required Rate @ 12/31/99 6.00% 1.85% 6.00% 5.87%
Contribution Amount for 1999 $ 154,243 $499,552 $ 114,605 $740,439
EMPLOYER CONTRIBUTION: '
Required Rate @ 12/31/99 4.60% 4.60% 6.21% 3.73%
Contribution Amount for 1999 $ 156,719 $930,172 $ 118,317 $464,426
* Receive Reduced Benefits. ,
PUBLIC EMPLOYEES' RETIREMENT SYSTEM(PERS)
Plan Description
The PERS system was established by the State legislature in 1947 under Revised Code of
Washington (RCW) Chapter 41.40. Membership in the system includes elected officials, state
employees, and employees of local government. Approximately 46%of PERS members are state .-
employees.
The PERS system consists of two plans. Participants who joined the system prior to October 1,
1977 are Plan I members. Participants joining October 1, 1977 and after are Plan II members.
Retirement benefits are financed from employee and employer contributions and investment
earnings. Retirement benefits in both plans are vested after completion of five years of eligible
service. Both plans provide retirement and disability benefits, annual cost-of-living adjustments,
and death benefits to plan members and beneficiaries.
Funding Policy
The State legislature establishes Plan I employer contribution rates, and Plan II employer and
employee contribution rates each biennium. Employee contribution rates for Plan I are
established by statute and do not vary from year to year. See Table 19 for information regarding
contribution rates and employer/employee contributions as of December 31, 1999.
50
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
LAW ENFORCEMENT OFFICERS& FIRE FIGHTERS RETIREMENT SYSTEM (LEOFF)
Plan Description
The LEOFF system was established by the State legislature in 1970 under Revised Code of
Washington (RCW) Chapter 41.26. Membership includes all full-time law enforcement officers
.. and fire fighters. LEOFF is comprised solely of non-state employees.
The LEOFF system consists of two plans. Participants who joined the system prior to October 1,
1977 are Plan I members. Participants joining October 1, 1977 and after are Plan II members.
Retirement benefits are financed by employee and employer contributions, investment
earnings, and legislative appropriation. Retirement benefits in both plans are vested after
w completion of five years of eligible service. Both plans provide retirement and disability benefits,
annual cost-of-living adjustments, and death benefits to plan members and beneficiaries.
Funding Policy
Plan I employers and employees are required to contribute at a prescribed rate and the State is
responsible for the balance of the funding. Plan II employers and employees are required to
. contribute at levels established by the State legislature. The contribution rates are developed by
the Office of the State Actuary in order to fund the system. See Table 19 for information
regarding contribution rates and employer/employee contributions as of December 31, 1999.
TABLE 20: PERS AND LEOFF INFORMATION BY SYSTEM
ITEM(DOLLARS IN MILLIONS) PERS LEOFF
City Participating Payroll $ 17.950 $ 12.244
Plan I City Contribution Rate 4.60% 6.21%
.. Plan II City Contribution Rate 4.60% 3.73%
City Plan Contribution:
1999 $ 1.087 $ .583
M 1998 $ 1.283 $ .636
1997 $ 1.230 $ .608
1996 $ 1.140 $ .569
.. Plan I Employee Contribution Rate 6.00% 6.00%
Plan II Employee Contribution Rate 1.85% 5.87%
*All required contributions to both systems were made by the city and the employees.
Historical trend and other information regarding the PERS and LEOFF plans are presented in the
State Department of Retirement Systems 1999 Comprehensive Annual Financial Report. A copy
of this report may be obtained by contacting the Department of Retirement Systems,
Administrative Services Division, PO Box 48380, Olympia, WA 98504-8380.
FIREMEN'S PENSION
Plan Description
The City is the administrator of a Firemen's Pension Plan, a closed, single-employer, defined
benefit pension plan established in accordance with Revised Code of Washington (RCW) 41.18
and in accordance with the Renton Municipal Code. This plan provides retirement and disability
benefits, annual cost-of-living adjustments, and death benefits to plan members and
beneficiaries. This system was established for fire fighters employed prior to March 1, 1970, when
the LEOFF retirement system was established. The retirement benefits vest after 20 years of
51
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
service. Members may retire after 25 years of service regardless of age; and after age 50 with 20
or more years of service.
The Firemen's Pension Plan is considered part of the City's reporting entity and is included in the
City's financial statements as a pension trust fund. At December 31, 1999, there were 34
members in the System, including 32 retirees and beneficiaries currently receiving benefits and
terminated employees entitled to benefits but not yet receiving them; 1 vested active members
and no non-vested active members. The City's payroll for employees covered by the System for
the year ended December 31, 1999 was$57,259.
Funding Policy
Under State law, the Firemen's Pension Plan is provided an allocation of all monies received by
the State from taxes on fire insurance premiums; interest earnings; member contributions made
prior to the inception of LEOFF; and City contributions required to meet projected future pension
obligations. An actuarial valuation was completed as of December 31, 1997. It was determined
that current assets of the fund, along with future revenues from state fire insurance taxes and
interest earnings, will be sufficient to pay all future Firemen's Pension Plan pension benefits.
Significant actuarial assumptions used in the valuation include: 1) 7% investment return,
compounded annually,: 2) 5% salary increase annually; 3) 4% growth in fire insurance premium;
4) 6% annual increase in property tax; and 5) 4% increase in consumer price index. There were
no material changes to the benefit provisions, actuarial funding method or other significant
factors that affect contributions required.
TABLE 21: SCHEDULE OF FUNDING PROGRESS
(Rounded to thousands)
UNFUNDED UAL AS A
ACTUARIAL ACTUARIAL ACTUARIAL PERCENTAGE
VALUATION VALUE OF LIABILITIES ACCRUED FUNDED COVERED OF COVERED
DATE ASSETS ENTRY AGE LIABILITIES(UAL) RATIO PAYROLL PAYROLL
January 1, 1997 $5,238 $6,444 $1,206 81.28% $260 464.20%
TABLE 22: SCHEDULE OF EMPLOYER CONTRIBUTIONS
(Rounded to thousands)
ANNUAL
ACTUAL ACTUAL TOTAL REQUIRED PERCENTAGE
FISCAL YEAR EMPLOYER FIRE INSURANCE EMPLOYER CONTRIBUTION OF ARC
ENDING CONTRIBUTION PREMIUMS CONTRIBUTIONS (ARC) CONTRIBUTED
December 31, 1997 $161,000 $69,305 $230,305 $99,516 231.43%
December 31, 1998 0 61,775 61,775 99,516 62.08%
December 31, 1999 0 75,340 75,340 99,516 75.71%
*Assumed amounts will be replaced at year-end with actual amounts.
52
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 23: GASB STATEMENT NO. 27 THREE-YEAR TREND INFORMATION
(Rounded to thousands)
. CONTRIBUTION
ANNUAL ASA NET PENSION
FISCAL YEAR PENSION COST PERCENTAGE OBLIGATION
ENDING (APC) OF(APC) (NPO)
December 31, 1997 $99,516 231.43% ($130,789)
December 31, 1998 99,516 62.08% ($90,048)
December 31, 1999 99,516 75.71% ($68,872)
The System's funding policy requires the employer to make contributions for the actuarially
- determined amount using the Aggregate Actuarial Cost funding method. This method does not
identify or separately amortize unfunded actuarial liabilities and does not explicitly calculate the
cost of benefits accruing during the year for active employees, i.e., normal cost. Employees are
, not required to make contributions. Pension benefit obligations were actuarially determined in
1982, 1986, 1988, 1990, 1992, 1994 and 1997. Amounts included for other periods were estimated
based on the most recent actuarial result. The contributions to the System for 1999 include
$75,340 from fire insurance premiums and $133,662 of investment income.
OTHER POST EMPLOYMENT BENEFITS
In addition to the pension benefits described in Note 10, the City provides post employment
benefits in accordance with State statute to all LEOFF I (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 100 LEOFF I retirees who receive necessary medical and hospitalization
coverage and 5 retirees who are covered solely by the Fire Pension Plan and receive medical
coverage limited to treatment of service-related disabilities only. Expenditures for post
employment health care benefits are recognized as retirees report claims. The City does not
have a funding policy at this time and no assets are designated for this purpose. During the
year, expenditures of$358,607 were recognized for post employment health care.
State statute provides that the City's responsibility for medical payments of LEOFF I retirees is
secondary to any other coverage retirees receive or are eligible to receive. The City recognizes
a potential savings exists when retirees utilize Medicare as primary coverage and the City for
secondary coverage and ineligible expenses. Therefore, upon reaching age 65, the City
requires the retirees to apply for and utilize Medicare Part B coverage. The City reimburses these
Medicare premiums at an average cost of approximately $136.50 per month for 28 LEOFF I
retirees and 5 Fire Pension retirees.
NOTE 11 - CONSTRUCTION COMMITMENTS
At December 31, 1999, the City had significant contractual construction commitments.These are
listed below:
TABLE 24: CONSTRUCTION COMMITMENTS
a.. PROJECT TITLE COMMITMENT FUNDING SOURCE
Waterworks Improvements $ 621,888 Public Works Trust Fund
Loans/Grants
Community Services Improvements$ 2,205,167 General/Grants
Street Improvements $ 1,625,237 General/Grants
53
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
NOTE 12 - LONG-TERM DEBT AND CAPITAL LEASES
The City of Renton's long-term debt consists of General Obligation Debt, repaid mainly from
general governmental revenue sources; Special Assessment Debt, repaid from special
assessment payments from participants; and Proprietary Debt, repaid from proprietary revenues.
These debts are accounted for in the following areas: 1) The outstanding general obligation
debt and special assessment debt are reported in the General Long-Term Debt Account Group;
2) The repayment, or debt service of the same, is recorded in the Debt Service Funds; and 3) The
proprietary debt liability and repayment of the some are reported in individual Proprietary Funds.
The City has an A 1 bond rating from Moody's Investors Service for both its General Obligation
Bonds and Revenue Bonds. Table 25 summarizes long-term debt transactions of the City for the
year ended December 31, 1999. A detail of all outstanding debt of the City is listed in Table 26.
TABLE 25: LONG TERM DEBT ADDITIONS AND RETIREMENTS SUMMARY
PAYABLE PAYABLE
ITEM 1/1/99 ADDED RETIRED 12/31/99
GENERAL:
General Obligation Bonds $25,073,105 $ 3,147,803 $ 1,997,000 $26,223,908
Installment Contracts 265,831 0 22,976 242,855 -
Special Assessment 1,335,000 0 655,000 680,000
Employee Leave Benefits 3,922,399 738,975 0 4,661,374
TOTAL GENERAL $30,596,335 $ 3,886,778 $ 2,674,976 $31,808,137
PROPRIETARY:
Revenue Bonds $28,580,000 $ 5,040,000 $ 6,760,000 $26,860,000
General Obligation Bonds 3,147,803 0 3,147,803 0 ,
Installment Contracts 199,334 0 62,797 136,537
Capital Leases 82,095 0 39,819 42,276
Employee Leave Benefits 368,177 72,699 0 440,876
Public Works Trust Fund Loans 9,245,358 395,621 616,519 9,024,460
TOTAL PROPRIETARY $41,622,767 $ 5,508,320 $ 10,626,938 $36,504,149
TOTAL ALL FUNDS:
General Obligation Bonds $28,220,908 $ 3,147,803 $ 5,144,803 $26,223,908
Revenue Bonds 28,580,000 5,040,000 6,760,000 26,860,000
Installment Contracts 465,165 0 85,773 379,392
Capital Leases 82,095 0 39,819 42,276
Special Assessment 1,335,000 0 655,000 680,000
Employee Leave Benefits 4,290,576 811,674 0 5,102,250
Public Works Trust Fund Loan 9,245,358 395,621 616,519 9,024,460
TOTAL ALL FUNDS $72,219,102 $ 9,395,098 $ 13,301,914 $68,312,286
54
CITY OF RENTON, WASHINGTON -
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 26: OUTSTANDING DEBT AS OF DECEMBER 31, 1999
INTEREST ISSUED MATURITY AMOUNT OUTSTANDING
ITEM RATES DATE DATE ISSUED 1/1/99 ISSUED REDEEMED 12/31/99
w
General Obligation Bonds:
Limited
1989 G O Refunding Bonds 6.75%-7.001/. 06/01/89 05/01/02 $ 2,085,000 $ 1,050,000 $ 0 $ 235,000 $ 815,000
1993 G O Refunding Bonds 3.00%-4.80% 08/01/93 06/01/02 4,910,000 3,205,000 0 750,000 2,455,000
..r 1994 G O Bonds 4.60%-6.307. 12/01/94 12/31/04 980,000 65,000 0 0 65,000
1996 G O Bonds 4.25%-5.407. 10/15/96 10/15/06 553,337 519,337 0 32,000 487,337
1997 G O Refunding Bonds 5.25%-5.55% 05/01/97 12/01/06 2,683,827 2,683,827 0 0 2,683,827
1997 G O Bonds 5.55%-5.75% 05/01/97 12/01/17 14,697,744 14,697,744 0 0 14,697,744
w. SUBTOTAL LIMITED GO 25,909,908 22,220,908 0 1,017,000 21,203,908
Unlimited
1989 G O Bonds-Senior Housing 6.40%-7.50% 02/01/89 02/01/09 5,500,000 250,000 0 250,000 0
1993 G O Refunding Bonds-Coulon Park 4.00%-6.10% 09/01/93 05/01/02 4,660,000 1,680,000 0 680,000 1,000,000
1993 G O Refunding Bonds-Senior Housing 2.70%-5.20% 09/01/93 02/01/09 4,270,000 4,070,000 0 50,000 4,020,000
SUBTOTAL UNLIMITED GO 14,430,000 6,000,000 0 980,000 5,020,000
TOTAL GENERAL OBLIGATION BONDS 40,339,908 28,220,908 0 1,997,000 26,223,908
Installment Contracts:
Certificates of Participation 4.51% 09/01/98 06/01/08 278,172 265,831 0 22,976 242,855
TOTAL INSTALLMENT CONTRACTS 278,172 265,831 0 22,976 242,855
TOTAL GENERAL OBLIGATION DEBT $ 40,618,080 $ 28,486,739 $ 0 $ 2,019,976 $ 26,466,763
Revenue Bonds:
1989 Water/Sewer 6.85%-7.50% 05/01/89 05/01/09 1,715,000 75,000 0 75,000 0
1990 Water/Sewer 5.90%-7.37% 11/01/90 10/01/10 4,100,000 350,000 0 175,000 175,000
1992 Water/Sewer 3.50%-6.50% 06/01/92 12/01/12 4,000,000 660,000 0 150,000 510,000
1992 Water/Sewer Refunding 3.50%-6.35% 06/01/92 12/01/06 4,635,000 3,385,000 0 520,000 2,865,000
1993 Water/Sewer 3.00%-5.375% 08/01/93 04/01/13 5,285,000 4,390,000 0 200,000 4,190,000
'• 1993 Water/Sewer Refunding 3.00'/-5.375% 01/08/93 04/01/10 8,860,000 8,190,000 0 490,000 7,700,000
1994 Golf System 4.50%-7.00% 07/01/94 12/01/15 5,000,000 4,555,000 0 4,555,000 0
1994 Water/Sewer 5.45%-6.55% 11/01/94 11/01/13 3,570,000 965,000 0 0 965,000
1998 Water/Sewer Refunding 3.70%-5.10% 03/01/98 06/01/13 6,120,000 6,010,000 0 315,000 5,695,000
1999 Golf System Refunding 3.25%-5.307o 04/01/99 12/01/15 5,040,000 0 5,040,000 280,000 4,760,000
TOTAL REVENUE BONDS $ 48,325,000 $ 28,580,000 $ 5,040,000 $ 6,760,000 $ 26,860,000
Public Works Trust Fund Loans:
Northwest 7th Sewer Repair 5.00% 12/31/91 07/01/01 84,779 28,259 0 9,420 18,839
Sierra Heights Sewer Improvements 3.00% 10/20/92 07/01/12 888,462 358,995 0 25,643 333,352
Central Renton Sewer Replacement 1.001/. 06/14/93 07/01/15 1,631,800 1,416,288 0 87,483 1,328,805
East Renton Interceptor 2.00% 06/14/93 07/01/13 2,542,704 2,018,550 0 134,570 1,883,980
Dayton Avenue NE 2.00% 05/24/94 07/01/14 96,958 81,649 0 5,103 76,546
Sanitary Sewer Grouting 2.00% 05/19/94 07/01/04 349,011 60,000 259,011 10,000 309,011
.r NE 27th/Aberdeen Drainage Improvements 1.00% 06/27/95 07/01/15 657,900 646,358 0 38,021 608,337
East Kennydale Interceptor 2.00% 06/26/96 07/01/16 1,884,366 1,867,836 0 103,769 1,764,067
Honeycreek Interceptor 2.00% 06/26/96 07/01/16 1,840,568 1,743,696 0 96,872 1,646,824
Rolling Hills Reservoir 1.00% 03/26/96 07/01/01 115,800 86,850 0 28,950 57,900
Corrosion Control Treatment Facilities 1.00% 03/26/96 07/01/17 1,106,000 936,877 136,610 76,688 996,799
TOTAL PUBLIC WORKS TRUST FUND LOANS _ $ 11,198,348 $ 9,245,358 $ 395.621 $ 616,519 $ 9,024,460
Installment Contracts(Proprietary Funds):
Metro(Cedar River Trunk Project) 5.00-5.25% 12/01/96 12/01/01 314,952 199,334 0 62,797 136,537
TOTAL INSTALLMENT CONTRACTS __$_ 314,952 $ 199,334 $ 0 $ 62,797 _L==J36,537
Capital Leases:
Golf Course Carts 6.09% 11/13/95 10/13/99 89,175 20,302 0 20,302 0
Golf Course Carts 5.62% 07/19/96 06/19/00 29,725 12,443 0 7,808 4,635
John Deere Equipment 9.50% 10/01/97 09/01/02 21,298 16,435 0 3,933 12,502
John Deere Equipment 10.39% 10101197 09/01/02 42,473 32,915 0 7,776 25,139
TOTAL CAPITAL LEASES $ 182,671 $ 82,095 $ 0 $ 39,819 $ 42,276
LID Bonds and Notes:
332 Street/Utilities 6.00%-7.757o 10/15/88 10/15/05 3,450,183 635,000 0 460,000 175,000
329Sireet/Utilities 3.007o-5.50% 04/01/93 04/01/03 1,654,063 700,000 0 195,000 505,000
TOTAL LID BONDS AND NOTES $ 5,104,246 $ 1,335,000 $ 0 $ 655,000 $ 680,000
Employee Leave Benefits 0 4,290,576 811,674 0 5,102,250
TOTAL OUTSTANDING DEBT $ 105,743,297 $ 72,219,102 $ 6,247,295 $ 10,154,111 $ 68,312,286
55
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
DEEP DISCOUNT DEBT
The 1996 Limited General Obligation Bond Issue included capital appreciation bonds that are W
issued at a deep discount. The deep-discount debt will mature in the years 2001, 2005, and 2006
with an accreted value of$21,000, $25,000 and $194,000 respectively. The deep-discount debt is
reported in the General Long Term Debt Account Group in the amount of $143,337, net of the
remaining unamortized discount.
The 1997 Limited General Obligation Bond issue included capital appreciation bonds that are
issued at a deep discount. The deep-discount debt will mature in the years 2006, 2007, and 2008
and 2009 with an accreted value of $335,000, $1,245,000, $1,250,000 and 1,000,000, respectively.
The deep-discount debt is reported in the General Long Term Debt Account Group in the
amount of $2,037,743, net of the remaining unamortized discount.
SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT
As of December 31, 1999, a total of $680,000 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, 1999, special assessment
receivables totaled $1,383,666 that includes $3,461 of delinquent assessments. In the guaranty
fund, $237,034 represents 34.9%of special assessment debt outstanding.
DEBT LIMIT CAPACITIES
State law provides that debt cannot be incurred in excess of the following percentages of the
value of the taxable property of the City: 1.5% without a vote of the people provided the
indebtedness with a vote is 1% or less; 2.5% with a vote of the people; 5.0% with a vote of the
people, provided the indebtedness in excess of 2.5% is for utilities; and 7.5% with a vote of the
people, provided the indebtedness in excess of 5.0% is for open space development and parks
facilities. At December 31, 1999, the debt limits for the City were as follows:
TABLE 27: DEBT LIMIT CAPACITIES
WITHOUT WITH A VOTE OF THE PEOPLE
ITEM A VOTE 2.5% 5.0% 7.5%
Legal Limit $ 63,877,511 $106,462,519 $ 212,925,038 $ 319,387,557
Outstanding Net Indebtedness 20,295,320 23,814,587 397,160 24,211,747
Capacity Available $ 43,582,191 $ 82,647,932 $212,527,878 $ 295,175,810
REFUNDED DEBT
As of December 31, 1999, the City's refunded debt includes eight outstanding general obligation
and revenue bond issues. The proceeds of the new refunding bond issues have been placed 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, 1999,
and changes to refunded bonds payable are provided in the following tables.
56
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 28: REFUNDED BONDS
U.S. BANK CHASE
CORPORATE MANHATTAN
ITEM TRUST BANK TOTAL
ASSETS:
Cash with Trustee $ 388 $ 56 $ 444
Investments with Trustee 15,254,862 2,687,100 17,941,962
Estimated Interest Receivable 778,763 522,090 1,300,853
TOTAL ASSETS $ 16,034,013 $ 3,209,246 $ 19,243 259
LIABILITIES:
Refunded Bonds Payable 14,705,000 2,715,000 17,420,000
EQUITY:
Earnings with Trustee 1,329,013 494,246 1,823 259
TOTAL LIABILITIES AND EQUITY $ 16,034,013 $ 3,209,246 $ 19,243,259
TABLE 29: CHANGES TO REFUNDED BONDS PAYABLE
BALANCE BALANCE
ITEM 12/31/98 INCREASE DECREASE 12/31/99
Refunded Bonds Payable GO $ 6,020,000 $ 0 $ 895,000 $ 5,125,000
Refunded Bonds Payable Revenue 9,330,000 4,555,000 1,590,000 12 295 000
TOTAL $15,350,000 $ 4,55§,000 $ 2,485,000 $17 420 000
REFUNDING BOND ISSUES- 1999
1999 Golf System Revenue Refunding Bonds
On April 1, 1999, the City issued $5,040,000 in Golf System Revenue Refunding Bonds with an
average interest rate of 4.963% to advance refund $4,555,000 of outstanding 1994 Golf System
Revenue Bonds. The net proceeds were used to purchase U.S. government securities which
were deposited with an escrow agent to provide for all future debt service payments on the
.. refunded bonds. As a result, these bonds are considered defeased and the liability for these
bonds have been removed from the Proprietary Type Long-Term Debt.
The advance refunding resulted in a reduction in the aggregate debt service payments of
$269,097. In addition, the economic gain (difference between the present values of the old and
new debt service payments) was $189,732.
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. Deep-discount debt is reported at face value at maturity.
57
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 30: DEBT SERVICE REQUIREMENT TO MATURITY (DOLLARS IN THOUSANDS)
CAPITAL LEASES/
TOTAL LONG TERM REVENUE PW TRUST INSTALLMENT SPECIAL TOTAL LONG
GO DEBT BONDS FUND LOANS CONTRACTS ASSESSMENT TERM DEBT
YEAR 1PRINCIPAL INTEREST 1PRINCIPAL INTEREST 1PRINCIPAL INTEREST 1PRINCIPAL INTEREST 1PRINCIPAL INTEREST 1PRINCIPAL INTEREST
2000 $ 2,121 $ 1,141 $ 1,840 $ 1,340 $ 695 $ 137 $ 83 $ 11 $ 185 $ 41 $ 4,924 $ 2,670
.r
2001 1,591 1,048 1,950 1,239 695 122 84 6 165 27 4,485 2,442
2002 1,714 959 2,030 1,139 603 112 12 1 165 18 4,524 2,229
2003 1,282 1,249 2,160 1,033 603 103 0 0 165 9 4,210 2,394
2004 1,338 1,192 2,275 920 602 95 0 0 0 0 4,215 2,207
2005 1,231 1,304 2,390 794 541 85 0 0 0 0 4,162 2,183
2006 1,200 1,338 2,270 674 541 77 0 0 0 0 4,011 2,089
2007 1,182 1,349 1,870 569 541 69 0 0 0 0 3,593 1,987
2008 1,153 1,368 1,965 473 541 61 0 0 0 0 3,659 1,902
2009 1,245 1,258 1,720 379 541 54 0 0 0 0 3,506 1,691
2010 1,265 721 1,645 295 541 46 0 0 0 0 3,451 1,062
2011 1,340 639 1,360 219 541 38 0 0 0 0 3,241 896
2012 1,415 563 1,430 148 540 32 0 0 0 0 3,385 743
2013 1,495 482 1,150 82 515 23 0 0 0 0 3,160 587
2014 1,580 396 395 42 345 16 0 0 0 0 2,320 454
2015 1,675 306 410 22 340 10 0 0 0 0 2,425 338
2016 1,770 209 0 0 250 5 0 0 0 0 2,020 214
2017 1,870 108 0 0 49 1 0 0 0 0 1,919 109
TOTALS $26,467 $15,630 $26,860 $ 9,368 $ 9,024 $ 1,086 $ 179 $ 18 $ 680 $ 95 $63,210 $26,197
AMOUNT AVAILABLE FOR DEBT SERVICE
Fund balances that have been reserved for debt repayment are $2,987,015 in the debt service '
funds.
CAPITAL LEASES '
The City entered into a lease agreement in 1995, 1996 and 1997 as lessee for financing the
acquisition of golf carts and lawn equipment for its Municipal Golf Course. The leases qualify as
capital leases for accounting purposes. Therefore, at inception of the leases, the equipment
was recorded as assets with a corresponding long-term liability equal to the present value of the
future lease payments that totaled $182,671. The fund records lease payments as reductions of
the long-term liability and as interest expense over the life of the lease. As of December 31,
1999, the current and long-term portions of capital leases payable were $17,583 and $24,693,
respectively. Table 32 provides the future minimum lease obligations and the net present value
of these minimum lease payments as of December 31, 1999.
TABLE 31: CAPITAL LEASE OBLIGATIONS
GOLF COURSE
YEAR ENDING DECEMBER 31, 1999 FUND
2000 $ 20,298
2001 16,160
2002 12,120
Total Minimum Lease Payments 48,578
Less: Interest (6,302)
PRESENT VALUE OF MINIMUM LEASE PAYMENTS $ 42,276
58
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
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, 1999, there
�. was a balance remaining of$64,000.
NOTE 14 - RESERVATIONS AND DESIGNATIONS OF FUND EQUITY
Following is an analysis of fund equity reservations and designations by type for each of the City's
fund groups.
TABLE 32: RESERVATIONS OF FUND EQUITY
GENERAL DEBT TRUST&
EQUITY RESERVED FOR: FUND SERVICE ENTERPRISE AGENCY TOTAL
Debt Service/Arbitrage $ 0 $ 2,987,015 $ 10,335,911 $ 0 $ 13,322,926
Advances/Other Funds/Prepaids 83,000 0 0 0 83,000
Employees' Pension Benefits 0 0 0 6,893,907 6 893 907
. TOTAL $ 83,000 $ 2,987,015 $10,335,911 $ 6,893,907 $20 299,833
TABLE 33: UNRESERVED DESIGNATED FUND EQUITY
EQUITY DESIGNATED FOR: GENERAL FUND
Inmate Health&Welfare $ 29,932
Investigative Fund Confiscations 86,691
TOTAL $ 116,623
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, 1999 follows:
' 59
CITY OF RENTON,WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 34: SEGMENT INFORMATION FOR ENTERPRISE FUNDS
WATERWORKS SOLID GOLF TOTAL ENTERPRISE
ITEM UTILITY AIRPORT WASTE COURSE FUNDS
TOTAL OPERATING REVENUE $ 21,480,398 $ 396,542 $ 8,376,036 $ 2,203,564 $ 32,456,540
OPERATING EXPENSES:
Operations&Maintenance 12,923,365 281,200 7,201,530 1,269,230 21,675,325
Administrative&General 1,756,727 100,763 0 0 1,857,490
Insurance 0 12,200 0 0 12,200
Taxes 1,727,350 0 1,069,374 9,259 2,805,983
Depreciation 2,998,977 213,328 78,099 304,349 3,594,753 `
Total Operating Expenses 19,406,419 607,491 8,349,003 1,582,838 29,945,751
Net Operating Income(Loss) 2,073,979 (210,949) 27,033 620,726 2,510,789
Non-Operating Revenue Net of Expenses (1,038,670) 106,119 139,769 (98,173) (890,955)
Operating Transfers In(Out) (82,080) 0 0 (261,531) (343,611)
Net Income(Loss) $ 953,229 $ (104,830) $ 166,802 $ 261,022 $ 1,276,223
Net Working Capital 5721 901 3,100,062 1,402,947 886,114 11,111,024
Additions to Property,Plant and
Equipment Net of Disposals 4,612,561 417 140 23,984 (119,477) 4,934,208
Total Assets 153,232,221 8,028,163 2,140,776 10,304,455 173,705,615
Long Term Debt,Net of Current Portion
&Bond Premium/Discount 28,039,242 0 0 4,018,462 32,057,704
Current Capital Contributions 6,091,470 716,571 166,166 1,407,225 8,381,432 '
TOTAL FUND EQUITY $ 120,759,881 $ 7,886,189 $ 1,480,577 $ 5,854,968 $ 135,981,615
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 omissions; 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. During 1999, there were no reductions in
insurance coverage, and settlements for the last three years have not exceeded insurance
coverage.
60
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
TABLE 35: RISK MANAGEMENT
RISK RETENTION RISK SHARING
TYPE OF COVERAGE OCCURRENCE CLAIMS ADMIN AGGREGATE CARRIER
Property $25,000 WA Cities Ins Authority $500,000,000 WA Cities Ins Authority
(per occurrence
subject to sub-limits)
Liability 250,000 WA Cities Ins Authority 14,000,000 WA Cities Ins Authority
(per occurrence)
Auto Liability 250,000 WA Cities Ins Authority 14,000,000 WA Cities Ins Authority
(per occurrence)
Boiler&Machinery 5,000 Arthur J.Gallagher 50,000,000 Hartford Steam Boiler
Public Officials 250,000 WA Cities Ins Authority 10,000,000 WA Cities Ins Authority
Crime 10,000 Arthur J. Gallagher 1,000,000 Travelers Casualty&
Surety
Airport Liability 2,500 Arthur J.Gallagher 10,000,000 National Union Fire Ins
Underground Storage Tank 10,000 Arthur J.Gallagher 1,000,000 Commerce&Industry
Worker's Comp 225,000 Johnston &Culberson 2,000,000 Frontier
Employee Health 90,000 HMA Inc N/A Safeco
The City's Risk Management Program is administered by the Human Resources and Risk
Management Administrator, with claims being processed by the independent claims
administrators noted in Table 36. As of December 31, 1999, the City had accrued the following
amounts for outstanding claims.
TABLE 36: OUTSTANDING CLAIMS
INCURRED/ INCURRED BUT NOT TOTAL CLAIMS
COVERAGE REPORTED REPORTED PAYABLE
Property&Liability $ 0 $ 1,125,180 $ 1,125,180
Worker's Compensation 0 746,449 746,449
Employee Health 0 313,285 313,285 _
TOTAL $ 0 $2,184,914 $2,184,914
Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated
settlement value of both reported and unreported claims. The Insurance Fund is used for
collecting interfund premiums from insured funds and departments, and for paying claims
settlements. Interfund premiums are assessed on the basis of claims history, number of
employees, and value of assets. Table 38 below presents changes in claims liabilities for 1998
and 1999.
TABLE 37: CHANGES IN CLAIMS LIABILITIES
PROPERTY& WORKER'S EMPLOYEE
LIABILITY COMPENSATION HEALTH TOTALS
ITEM 1 1999 1998 1 1999 1998 1 1999 1998 1 1999 199A
Claims Liabilities at Beginning of Year $1,995,202 $ 913,175 $ 516,127 $ 106,992 $ 229,716 $ 151,308 $2,741,045 $ 1,171,475
Claims Expenses:
Current Year and Changes in 127,286 3,010,003 853,531 1,143,908 3,447,752 2,886,505 4,428,569 7,040,416
Estimates
Yr
_Claims Payments (997,308) (1,927,976) (623,209) (734,773) (3,364,183) (2,808,097) (4'984,700) (5,470,846)
' Claims Liabilities at End of Year $1,125,180 $1,995,202 $ 746,449 $ 516,127 $ 313,285 $ 229,716 $2,184,914 $2 741 045
61
CITY OF RENTON, WASHINGTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1999
NOTE 18 - SUBSEQUENT EVENTS
There are no material subsequent events pending that have any material affect to the financial
statements between January 1, 2000 and June 30, 2000.
4
1
62
' CITY OF RENTON,WASHINGTON
REQUIRED SUPPLEMENTARY INFORMATION
' DECEMBER 31, 1999
' TABLE 1: SCHEDULE OF EMPLOYER CONTRIBUTIONS TO THE FIREMEN'S PENSION PLAN
EMPLOYER
' YEAR CONTRIBUTIONS
1999 $ 0
1998 0
' 1997 161,000
1996 297,000
' 1995 286,000
1994 257,000
63
CITY OF RENTON, WASHINGTON
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CITY OF RENTON, WASHINGTON
GENERAL FUND
DECEMBER 31, 1999
The City of Renton's General Fund includes all financial transactions that are not
properly accounted for in other funds. It is the largest accounting entity in the City and
provides for most of the general operations except for park, street, and library
functions, which are accounted for in special revenue funds.
The major resource to the General Fund is general tax revenue. Licenses and permits,
charges for service and fines and forfeits provide additional support.
r
65
CITY OF RENTON,WASHINGTON
GENERAL FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 1)
1999 1998
ASSETS:
Cash and Cash Equivalents $ 747,838 $ 5,047,537
Investments at Fair Value 4,977,648 0
Receivables:
Taxes 323,826 286,853
Accounts 3,498,467 4,106,268 t
Interest on Investments 224,574 59,035
Due From Other Funds 9,203 18,351
Due From Other Governmental Units 0 33,346
Prepaid Items 8,000 8.000
Restricted Assets:
Deposits 109,080 200,098
Interfund Loans/Advances-Non-Current 75,000 79,000
TOTAL ASSETS $ 9.973.636 $ 9.838.488
r
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable $ 312,186 $ 416,918
Due To Other Funds 180,716 385,527
Due To Other Governmental Units 1,616,397 1,675,291
Accrued Employee Benefits Payable 2,027 0
Accrued Taxes Payable 1,396 3,632
Deferred Revenues 2,173,468 2,504,779
Accrued Employee Leave Benefits 223,224 209,628
TOTAL LIABILITIES 4,509,414 5,195,775
FUND EQUITY:
Fund Balance:
Reserved for Advances/Prepaids/Contingency 83,000 87,000
Unreserved-Designated:
For Inmate Health&Welfare 29,932 28,129
For Investigative Fund Confiscations 86,691 89,570
Unreserved-Undesignated 5,264,599 4,438,014
TOTAL FUND EQUITY 5,464,222 4,642,713
TOTAL LIABILITIES AND FUND EQUITY $ 9.973.636 $ 9.838.488
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66
CITY OF RENTON, WASHINGTON
rNlr
GENERAL FUND
STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 1)
1999 1998
REVENUES
Taxes $ 27,878,475 $ 26,438,377
Licenses And Permits 1,687,572 2,063,509
Intergovernmental Revenues 2,299,474 2,605,650
Charges For Services 3,867,738 3,979,440
Fines And Forfeits 797,657 687,492
Contributions 28,163 0
Interest 1,161,911 11158,010
Miscellaneous Revenues 47,400 98,437
TOTAL REVENUES 37,768,390 37,030,915
EXPENDITURES
Current:
General Government 8,065,131 7,884,923
Security Of Persons And Property 21,336,276 20,074,074
Physical Environment 1,892,549 1,730,735
Economic Environment 2,919,978 3,240,794
Mental And Physical Health 8,486 10,962
Capital Outlay 573,298 350,193
Debt Service:
Principal Retirement 33,018 33,018
Interest&Fiscal Charges 2,848 5,696
TOTAL EXPENDITURES 34,831,584 33,330,395
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 2,936,806 3,700,520
OTHER FINANCING SOURCES(USES)
Operating Transfers(Out) (2,107,458) (5,500,530)
Sale Of General Fixed Assets 0 1,500
TOTAL OTHER FINANCING SOURCES(USES) (2,107,458) (5,499,030)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 829,348 (1,798,510)
FUND BALANCE JANUARY 1 4,642,713 6,378,113
Residual Equity Transfers In 0 63,110
Residual Equity Transfers Out (7,839) 0
FUND BALANCE DECEMBER 31 $ 5.464.222 $ 4.642.713
Ir
67
CITY OF RENTON, WASHINGTON
GENERAL FUND
STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1)
GENERAL °
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 27,909,660 $ 28,051,223 $ 141,563 $ 26,438,377
Licenses And Permits 1,483,507 1,679,687 196,180 2,063,509
Intergovernmental Revenues 1,861,955 2,352,702 490,747 2,605,650 t
Charges For Services 3,752,380 3,849,410 97,030 3,979,440
Fines And Forfeits 768,000 797,657 29,657 687,492
Contributions 54,993 28,163 (26,830) 0
Interest 750,000 1,019,349 269,349 1,158,010
Miscellaneous Revenues 206,367 47,151 (159,216) 98,437
TOTAL REVENUES 36,786,862 37,825,342 1,038,480 37,030,915
EXPENDITURES
Current:
General Government 7,953,649 8,066,917 (113,268) 7,884,923
Security Of Persons And Property 22,082,564 21,300,403 782,161 20,074,074
Physical Environment 1,933,429 1,892,541 40,888 1,730,735
Economic Environment 3,386,942 2,932,573 454,369 3,240,794
Mental And Physical Health 10,399 8,486 1,913 10,962
Capital Outlay 881,995 573,299 308,696 350,193
Debt Service:
Principal Retirement 33,348 33,018 330 33,018
Interest&Fiscal Charges 5,753 2,848 2,905 5,696
TOTAL EXPENDITURES 36,288,079 34,810,085 1,477,994 33,330,395
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 498,783 3,015,257 2,516,474 3,700,520
OTHER FINANCING SOURCES(USES)
Operating Transfers(Out) (2,368,989) (2,368,989) 0 (5,500,530)
Sale Of General Fixed Assets 0 0 0 1,500
TOTAL OTHER FINANCING SOURCES(USES) (2,368,989) (2,368,989) 0 (5,499,030) s
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES11,870,206) 646,268 2,516,474 (1,798,510)
FUND BALANCE JANUARY 1 4,736,268 4,736,268 0 6,378,113
Residual Equity Transfers In 0 0 0 63,110
Residual Equity Transfers(Out) 17,839) (7,839) 0 0
FUND BALANCE DECEMBER 31 $ 2.858.223 $ 5.374.697 $ 2.516.474 $ 4.642.713
f�
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Special Revenue Funds
_ a
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1
1
1
1
CITY OF RENTON, WASHINGTON
SPECIAL REVENUE FUNDS
- DECEMBER 31, 1999
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 '/2 cent gasoline tax distributed to
Renton. Expenditures are limited by law to capital improvements of City arterial streets.
Street Fund: Established in accordance with RCW 35A.37.010 to account for
maintenance and improvement of the City's street and traffic control systems. Major
sources of support are general tax revenues and the State levied tax on motor vehicle
fuels distributed to Renton, to be used for City street purposes.
Community Development Block Grant Fund: Established in 1992 to administer the
Federally funded Community Development Block Grant activity per City Ordinance
#4335. The program was reported in the General Fund in prior years.
Impact Mitigation Fund: Created to account for monies collected from developers to
offset impacts created by their developments to City's facilities. In 1999, this fund was
closed and three new mitigation funds were created as Capital Project Funds to better
account for mitigation funds by type, i.e., Community Development, Fire, and
Transportation.
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.
Hotel/Motel Tax Fund: Established in 1998 to account for monies collected as a result of
SSB 5867, which allows Washington State cities to impose an increase in the hotel/motel
.• tax of up to 1 percent for the purpose of increasing tourism. The Renton City Council
adopted the tax on December 15, 1997.
Paths and Trails Reserve Fund: Created for the purpose of planning, accommodating,
establishing and maintaining certain paths and trails. One-half of one-percent (1/2 of
1%) of the State levied motor vehicle fuel fax 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.
69
CITY OF RENTON,WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2)
er
COMMUNITY
PARK ARTERIAL STREET DEVELOPMENT
STREET BLOCK GRANTS
ASSETS:
Cash and Cash Equivalents $ 702,264 $ 153,673 $ 593,802 $ 36,305
Investments at Fair Value 746,911 0 445,603 0
Receivables:
Accounts 11,826 0 13,153 0
Interest on Investments 4,327 0 3,493 0
Due From Other Funds 0 0 33,635 0
Due From Other Governmental Units 0 0 0 60,534
TOTAL ASSETS $ 1.465.328 $ 153.673 $ 1.089.686 $ 96.839
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable $ 138,305 $ 0 $ 90,080 $ 372
Retainage Payable 2,648 0 0 6,519
Due To Other Funds 0 0 0 178,321
Accrued Taxes Payable 4,503 0 926 0
Deposits Payable 15,980 0 0 0
Accrued Employee Leave Benefits 40,452 0 26,210 0
Interfund Loans/Advances-Non-Current 0 0 0 75,000 ..
TOTAL LIABILITIES 201,888 0 117,216 260,212
FUND EQUITY:
Fund Balance:
Unreserved-Undesignated 1,263,440 153,673 972,470 (163,373)
TOTAL FUND EQUITY 1,263,440 153,673 972,470 (163,373)
TOTAL LIABILITIES AND FUND EQUITY $ 1.465.328 $ 153.673 $ 1.089.686 $ 96.839
70
CITY OF RENTON, WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 2 OF 2)
CABLE COMPARATIVE TOTALS
IMPACT LIBRARY HOTEL/ PATHS ONE PERCENT COMMUNICATIONS
MITIGATION MOTEL TAX &TRAILS FOR ART DEVELOPMENT 1999 1998
r
$ 0 $ 180,459 $ 150,351 $ 2,807 $ 27,830 $ 186,985 $ 2,034,476 $ 4,157,769
0 148,665 0 0 0 0 1,341,179 5,350,133
0 0 0 0 0 0 24,979 10,798
0 1,433 0 0 0 0 9,253 41,896
0 0 0 0 0 0 33,635 46,577
0 0 0 0 0 0 60,534 43,373
$ 0 $ 330.557 $ 150.351 $ 2.807 $ 27.830 $ 186.985 $ 3.504.056 $ 9.650.546
$ 0 $ 22,622 $ 0 $ 0 $ 0 $ 201 $ 251,580 $ 249,730
0 0 0 0 0 0 9,167 166,617
a 0 0 0 0 0 0 178,321 9,827
0 1,040 0 0 0 0 6,469 5,991
0 0 0 0 0 0 15,980 17,975
0 9,930 0 0 0 0 76,592 88,223
to 0 0 0 0 0 0 75,000 75,000
0 33792 0 0 0 201 613,109 613,363
11r 0 296,965 150,351 2,807 27,830 186,784 2,890,947 9,037,183
0 296,965 150,351 2,807 27,830 186,784 2,890,947 9,037,183
$ 0 $ 330.557 $ 150.351 $ 2.807 $ 27.830 $ 186.985 $ 3.504.056 $ 9.650.546
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r 71
CITY OF RENTON,WASHINGTON
r
SPECIAL REVENUE FUNDS 1d
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2)
COMMUNITY
PARK ARTERIAL STREET DEVELOPMENT a
STREET BLOCK GRANTS
REVENUES
Taxes $ 6,698,314 $ 0 $ 3,239,271 $ 0
Licenses And Permits 0 0 58,327 0
Intergovernmental Revenues 5,325 333,141 712,557 235,871
Charges For Services 640,270 0 971,623 0
Fines And Forfeits 0 0 0 0
Contributions 21,938 0 0 0
Interest 37,556 9,631 45,849 0
Miscellaneous Revenues 461,346 0 23,864 0
TOTAL REVENUES 7,864,749 342,772 5,051,491 235,871
EXPENDITURES
Current:
General Government 1,906,909 0 0 0
Transportation 159,044 0 4,971,659 0
Economic Environment 556,253 0 0 263,183
Culture and Recreation 4,901,580 0 0 0
Capital Outlay 0 0 8,811 136,066
TOTAL EXPENDITURES 7,523,786 0 4,980,470 399,249
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 340,963 342,772 71,021 (163,378)
OTHER FINANCING SOURCES(USES)
Interfund Loan Proceeds 0 0 148,000 0
Operating Transfers In 0 0 4,468 0
Operating Transfers(Out) 0 (343,180) (365,000) 0
Sale Of General Fixed Assets 0 0 35,000 0
TOTAL OTHER FINANCING SOURCES(USES) 0 (343,180) (177,532) 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER No
EXPENDITURES AND OTHER FINANCING USES 340,963 (408) (106,511) (163,378)
FUND BALANCE JANUARY 1 914,638 154,081 1,078,981 5
Residual Equity Transfers In 7,839 0 0 0
Residual Equity Transfers Out 0 0 0 0
FUND BALANCE DECEMBER 31 $ 1.263.440 $ 153.673 $ 972.470 $ 1163.3731
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72
CITY OF RENTON,WASHINGTON
No
r SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
IN (PAGE 2 OF 2)
ONE CABLE TOTALS
IMPACT LIBRARY HOTEL/ PATHS PERCENT COMMUNICATIONS
MITIGATION MOTEL TAX &TRAILS FOR ART DEVELOPMENT 1999 1998
$ 0 $ 1,246,943 $ 130,880 $ 0 $ 0 $ 30,000 $ 11,345,408 $ 10,553,116
0 0 0 0 0 0 58,327 23,218
0 13,890 0 0 0 0 1,300,784 1,369,474
0 9,003 0 0 0 0 1,620,896 3,719,818
0 33,670 0 0 0 0 33,670 34,562
(87,842) 2,782 0 0 0 0 (63,122) 1,974,897
0 8,989 2,944 0 1,279 7,332 113,580 490,925
I 0 (49) 0 0 0 1,500 486,661 450,723
(87,842) 1,315,228 133,824 0 1,279 38,832 14,896,204 18,616,733
0 0 0 0 0 0 1,906,909 2,030,753
0 0 0 0 0 0 5,130,703 4,838,713
0 0 53,050 0 0 0 872,486 820,176
0 1,236,202 0 0 0 21,350 6,159,132 5,804,099
(8,264) 7,126 0 0 0 0 143,739 4,531,496
(8,264) 1,243,328 53,050 0 0 21,350 14,212,969 18,025,237
(79,578) 71,900 80,774 0 1,279 17,482 683,235 591,496
0 0 0 0 0 0 148,000 0
0 0 0 0 0 0 4,468 75,000
0 0 0 0 0 0 (708,180) (651,160)
0 0 0 0 0 0 35,000 22,712
0 0 0 0 0 0 (520,712) (553,448)
(79,578) 71,900 80,774 0 1,279 17,482 162,523 38,048
6,396,176 225,065 69,577 2,807 26,551 169,302 9,037,183 8,999,135
r 0 0 0 0 0 0 7,839 0
(6,316,598) 0 0 0 0 0 (6,316,598) 0
$ 0 $ 296,965 $ 150.351 $ 2.807 $ 27.830 $ 186.784 $ 2.890.947 $ 9.037.183
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73
CITY OF RENTON,WASHINGTON
SPECIAL REVENUE FUNDS +�+
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 8)
PARK
VARIANCE ...
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 6,867,314 $ 6,698,314 $ (169,000) $ 6,322,222
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 5,325 5,325 5,950
Charges For Services 463,300 640,270 176,970 709,235
Fines And Forfeits 0 0 0 0
Contributions 0 21,438 21,438 0
Interest 25,000 36,317 11,317 45,663
Miscellaneous Revenues 463,500 453,315 (10,185) 447,450
TOTAL REVENUES 7,819,114 7,854,979 35,865 7,530,520
EXPENDITURES
Current:
General Government 2,084,508 1,908,058 176,450 2,030,753
Transportation 157,639 159,044 (1,405) 152,661 ..�
Economic Environment 600,816 556,227 44,589 555,893
Culture and Recreation 5,251,317 4,903,931 347,386 4,607,431
Capital Outlay 0 0 0 18,699
TOTAL EXPENDITURES 8,094,280 7,527,260 567,020 7,365,437
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (275,166) 327,719 602,885 165,083
OTHER FINANCING SOURCES(USES)
Interfund Loan Proceeds 0 0 0 0
Operating Transfers In 0 0 0 0
Operating Transfers(Out) 0 0 0 (195,778)
Sole Of General Fixed Assets 0 0 0 0
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 (195,778) ..
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 1275,166) 327,719 602,885 (30,695)
FUND BALANCE JANUARY 1 955,627 955,627 0 945,333
Residual Equity Transfers In 7,839 7,839 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 688.300 $ 1.291.185 $ 602.885 $ 914.638
74 "
CITY OF RENTON,WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 8)
ARTERIAL STREET STREET
r VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 3,441,572 $ 3,239,271 $ (202,301) $ 3,108,526
0 0 0 0 20,000 52,676 32,676 23,218
337,180 333,141 (4,039) 332,294 725,515 712,557 (12,958) 710,808
0 0 0 0 1,056,487 984,565 (71,922) 1,098,036
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
6,000 9,631 3,631 6,129 90,000 49,625 (40,375) 30,761
0 0 0 0 0 23,864 23,864 (207)
343,180 342,772 (408) 338,423 5,333,574 5,062,558 (271,016) 4,971,142
0 0 0 0 0 0 0 0
0 0 0 0 5,418,965 4,975,632 443.333 4,686,052
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 5,000 8,811 (3,811) 34,777
0 0 0 0 5,423,965 4,984,443 439,522 4,720,829
343,180 342,772 (4081 338,423 (90,391) 78,115 168,506 250,313
0 0 0 0 0 148,000 148,000 0
0 0 0 0 0 4,468 4,468 75,000
(343,180) (343,180) 0 (320,000) (365,000) (365,000) 0 (41,866)
0 0 0 0 0 35,000 35,000 22,712
(343,180) (343,180) 0 (320,000) (365,000) (177,532) 187,468 55,846
0 1408) (408) 18,423 (455,391) (99,4171 355,974 306,159
154,082 154,082 0 135,658 1,052,849 1,052,849 0 772,822
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 154.082 $ 153.674 $ 14081 $ 154.081 $ 597.458 $ 953,432 $ 355.974 $ 1.078.981
it
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75
CITY OF RENTON,WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 3 OF 8)
COMMUNITY DEVELOPMENT BLOCK GRANTS
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 0 $ 0 $ 0 $ 0
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 393,174 397,032 3,858 307,093
Charges For Services 0 0 0 0
Fines And Forfeits 0 0 0 0
Contributions 0 0 0 0
Interest 0 0 0 0
Miscellaneous Revenues 0 0 0 0 fl
TOTAL REVENUES 393,174 397,032 3,858 307,093
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 276,989 263,201 13,788 264,283
Culture and Recreation 0 0 0 0
Capital Outlay 334,268 136,066 198,202 59,088
TOTAL EXPENDITURES 611,257 399,267 211,990 323,371
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (218,083) (2,235) 215,848 (16,278)
OTHER FINANCING SOURCES(USES)
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
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (218,083) (2,235) 215,848 (16,278)
FUND BALANCE JANUARY 1 (43,351) (43,351) 0 16,283
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ (261.4341 $ 145.5861 $ 215.848 $ 5
1
76
CITY OF RENTON,WASHINGTON
IN
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 4 OF 8)
IMPACT MITIGATION LIBRARY
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
40 $ 0 $ 0 $ 0 $ 0 $ 1,212,310 $ 1,246,943 $ 34,633 $ 1,028,595
0 0 0 0 0 0 0 0
0 0 0 0 14,100 13,890 (210) 13,329
0 0 0 1,902,886 10,000 9,003 (997) 9,661
0 0 0 0 24,500 33,670 9,170 34,562
0 0 0 1,974,897 500 2,782 2,282 0
0 0 0 392,928 7,500 10,207 2,707 8,870
0 0 0 0 0 (49) (49) 1,980
0 0 0 4,270,711 1,268,910 1,316,446 47,536 1,096,997
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 1,285,879 1,241,077 44,802 1,180,464
0 0 0 4,393,153 0 7,126 (7,126) 13,672
im 0 0 0 4,393,153 1,285,879 1,248,203 37,676 1,194,136
0 0 0 (122,442) (16,969► 68,243 85,212 (97,139)
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 (93,516) 0 0 0 0
0 0 0 0 0 0 0 0
m 0 0 0 (93,516) 0 0 0 0
0 0 0 (215,958) (16,969) 68,243 85,212 (97,139)
6,316,598 6,316,598 0 6,612,134 239,593 239,593 0 322,204
0 0 0 0 0 0 0 0
(6,316,598) (6,316,598) 0 0 0 0 0 0
$ 0 $ 0 $ 0 $ 6.396.176 $ 222.624 $ 307.836 $ 85.212 $ 225.065
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CITY OF RENTON, WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 5 OF 8)
HOTEL/MOTEL TAX
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 150,000 $ 130,881 $ (19,119) $ 69,273
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 0 ,
Charges For Services 0 0 0 0
Fines And Forfeits 0 0 0 0
Contributions 0 0 0 0
Interest 0 2,944 2,944 304
Miscellaneous Revenues 0 0 0 0
TOTALREVENUES 150,000 133,825 (16,175) 69,577
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0 A
Economic Environment 100,000 53,050 46,950 0
Culture and Recreation 0 0 0 0
Capital Outlay 0 0 0 0
TOTAL EXPENDITURES 100,000 53,050 46,950 0
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 50,000 80,775 30,775 69,577
OTHER FINANCING SOURCES(USES)
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
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 50,000 80,775 30,775 69,577
FUND BALANCE JANUARY 1 69,577 69,577 0 0
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 119.577 $ 150.352 $ 30,775 $ 69.577
78 No
CITY OF RENTON, WASHINGTON
ur
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 6 OF 8)
PATHS AND TRAILS ONE PERCENT FOR ART
(� VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
350 0 (350) 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 1,250 1,279 29 1,375
0 0 0 0 0 0 0 0
350 0 (350) 0 1,250 1,279 29 1,375
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 0 0 0 1,250 0 1,250 3,751
0 0 0 0 1,250 0 1,250 3,751
350 0 (350) 0 0 1,279 1,279 (2,376)
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 0 0 0 0 0 0 0
350 0 (350) 0 0 1,279 1,279 (2,376)
2,807 2,807 0 2,807 26,551 26,551 0 28,927
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
r $ 3.157 $ 2.807 $ 13501 $ 2.807 $ 26.551 $ 27.830 $ 1.279 $ 26.551
r
79
CITY OF RENTON,WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 7 OF 8)
CABLE COMMUNICATIONS DEVELOPMENT
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 30,000 $ 30,000 $ 0 $ 24,500 ..p
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 0
Charges For Services 0 0 0 0
Fines And Forfeits 0 0 0 0 .»
Contributions 0 0 0 0
Interest 5,500 7,332 1,832 4,895
Miscellaneous Revenues 0 1,500 1,500 1,500
TOTAL REVENUES 35,500 38,832 3.332 30,895
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 0 0 0 0
Culture and Recreation 30,500 21,350 9,150 16,204
Capital Outlay 5,000 0 5,000 8,356
TOTAL EXPENDITURES 35,500 217350 14,150 24,560
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 0 17,482 17,482 6,335
OTHER FINANCING SOURCES(USES)
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
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 0 17,482 17,482 6,335
FUND BALANCE JANUARY 1 169,302 169,302 0 162,967
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 169.302 $ 186.784 $_ 17.482 $ 169.302
80
CITY OF RENTON,WASHINGTON
ow SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
r
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 8 OF 8)
TOTALS
ow VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
to $ 11,701,196 $ 11,345,409 $ (355,787) $ 10,553,116
20,000 52,676 32,676 23,218
1,470,319 1,461,945 (8,374) 1,369,474
1,529,787 1,633,838 104,051 3,719,818
24,500 33,670 9,170 34,562
500 24,220 23,720 1,974,897
135,250 117,335 (17,915) 490,925
463,500 478,630 15,130 450,723
15,345,052 15,147,723 (197,329) 18,616,733
r
2,084,508 1,908,058 176,450 2,030,753
5,576,604 5,134,676 441,928 4,838,713
977,805 872,478 105,327 820,176
6,567,696 6,166,358 401,338 5,804,099
345,518 152,003 193,515 4,531,496
15,552,131 14,233,573 1,318,558 18,025,237
(207,079► 914,150 1,121,229 591,496
r 0 148,000 148,000 0
0 4,468 4,468 75,000
(708,180) (708,180) 0 (651,160)
0 35,000 35,000 22,712
(708,180) (520,712) 187,468 (553,448)
(915,259) 393,438 1,308,697 38,048
8,943,635 8,943,635 0 8,999,135
7,839 7,839 0 0
(6,316,598) (6,316,598) 0 0
$ 1.719.617 $ 3.028.314 $ 1.308.697 $ 9.037.183
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CITY OF RENTON, WASHINGTON
THIS PAGE INTENTIONALLY LEFT BLANK
82
Debt Service Funds
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- CITY OF RENTON, WASHINGTON
DEBT SERVICE FUNDS
DECEMBER 31, 1999
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.
1997 Limited General Obligation Bond Redemption Fund: Accounts for debt service on
a Council-approved bond issue, which provided funding for the purchase of the new
Renton City Hall in May 1997.
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 Activity 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.
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.
83
CITY OF RENTON,WASHINGTON
DEBT SERVICE FUNDS ar
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2)
1989 LIMITED 1983 UNLIMITED
1997 LIMITED 1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS GO BONDS BONDS BONDS
ASSETS: ++
Cash and Cash Equivalents $ 10,813 $ 203,066 $ 52,683 $ 602,840
Cash With Fiscal Agent 0 0 60,000 0
Investments at Fair Value 0 0 0 0
Receivables:
Taxes 0 0 0 17,754 ..
Special Assessments-Current 0 0 0 0
Special Assessments-Delinquent 0 0 0 0
Special Assessments-Deferred 0 0 0 0
Interest-Special Assessments 0 0 0 0
Interest on Investments 0 0 0 0
Due From Other Funds 0 0 0 477
TOTAL ASSETS $ 10.813 $ 203.066 $ 112.683 $ 621.071
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable $ 202 $ 0 $ 0 $ 0
Matured Interest Payable 0 0 60,000 0
Deferred Revenues 0 0 0 17,754
TOTAL LIABILITIES 202 0 60,000 17,754 `
FUND EQUITY:
Fund Balance:
Reserved for Debt Service 10,611 203,066 52,683 603,317
TOTAL FUND EQUITY 10,611 203,066 52,683 603,317
TOTAL LIABILITIES AND FUND EQUITY $ 10.813 $ 203.066 $ 112.683 $ 621.071
84
CITY OF RENTON, WASHINGTON
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
ft )PAGE 2 OF 2)
GENERAL SPECIAL SPECIAL COMPARATIVE TOTALS
GOVERNMENT 1989 UNLIMITED ASSESSMENT ASSESSMENT
MISC DEBT GO BONDS DEBT GUARANTY 1999 1998
$ 884,882 $ 500,733 $ 349,427 $ 237,034 $ 2,841,478 $ 1,784,301
22,000 10,000 305,000 0 397,000 115,075
0 0 49,555 0 49,555 450,164
No
0 12,670 30,424 28,136
0 0 134 0 134 0
0 0 3,461 0 3,461 17,355
0 0 1,380,071 0 1,380,071 2,018,216
0 0 1,356 0 1,356 7,641
0 0 478 0 478 3,800
89,960 318 0 0 90,755 62,493
$ 996.842 $ 523.721 $ 2.089.482 $ 237.034 $ 4.794.712 $ 4.487.181
$ 0 $ 0 $ 0 $ 0 $ 202 $ 414
22,000 10,000 305,000 0 397,000 115,075
0 12,670 1,380,071 0 1,410,495 2,046,352
22,000 22,670 1,685,071 0 1,807,697 2,161,841
974,842 501,051 404,411 237,034 2,987,015 2,325,340
974,842 501,051 404,411 237,034 2,987,015 2,325,340
$ 996.842 $ 523.721 $ 2.089.482 $ 237.034 $ 4.794.712 $ 4.487.181
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85
CITY OF RENTON,WASHINGTON
r
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 2)
1989 LIMITED 1983 UNLIMITED
1997 LIMITED 1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS GO BONDS BONDS BONDS
REVENUES
Taxes $ 735,000 $ 0 $ 290,000 $ 803,696
Special Assessments 0 0 0 0
Interest 0 4,318 0 14,496
TOTALREVENUES 735,000 4,318 290,000 818,192
EXPENDITURES
Debt Service:
Principal Retirement 0 0 235,000 680,000
Interest&Fiscal Charges 735,169 3 65,392 78,367
TOTAL EXPENDITURES 735,169 3 300,392 758,367
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (169) 4,315 (10,3921 59,825
OTHER FINANCING SOURCES(USES)
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 (169) 4,315 (10,3921 59,825
FUND BALANCE JANUARY 1 10,780 198,751 63,075 543,492
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers Out 0 0 0 0
FUND BALANCE DECEMBER 31 $ 10.611 $ 203.066 $ 52.683 $ 603.317
�I
86
CITY OF RENTON,WASHINGTON
No
IN DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
No (PAGE 2 OF 2)
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1999 1998
No
$ 1,219,528 $ 535,731 $ 0 $ 0 $ 3,583,955 $ 3,069,880
0 0 669,885 0 669,885 516,929
16,562 8,726 166,593 13,817 224,512 449,642
1,236,090 544,457 836,478 13,817 4,478,352 4,036,451
804,976 300,000 655,000 0 2,674,976 1,999,418
167,646 205,860 90,303 0 1,342,740 1,375,373
972,622 505,860 745,303 0 4,017,716 3,374,791
m 263,468 38,597 91,175 13,817 460,636 661,660
399,501 0 0 0 399,501 0
r 0 0 0 (200,000) (200,000) (1,255,950)
399,501 0 0 (200,000) 199,501 (1,255,950)
662,969 38,597 91,175 (186,183) 660,137 (594,290)
311,873 462,454 311,698 423,217 2,325,340 2,919,630
0 0 1,538 0 1,538 0
0 0 0 0 0 0
$ 974.842 $ 501.051 $ 404.411 $ 237.034 $ 2.987.015 $ 2.325.340
1rf1
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87
CITY OF RENTON,WASHINGTON
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 6)
1997 LIMITED GENERAL OBLIGATION BOND
VARIANCE a
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 735,000 $ 735,000 $ 0 $ 740,000
Special Assessments 0 0 0 0
Interest 765 0 (765) 0
TOTAL REVENUES 735,765 735,000 (765) 740,000
EXPENDITURES
Debt Service:
Principal Retirement 0 0 0 0
Interest&Fiscal Charges 735,765 735,169 596 735,372
TOTAL EXPENDITURES 735,765 735,169 596 735,372
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 0 (169) (169) 4,628
OTHER FINANCING SOURCES (USES)
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 0 (169) (169) 4,628
FUND BALANCE JANUARY 1 10,780 10,780 0 6,152
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 10,780 $ 10.61 1 $ 11691 $ 10.780
88
CITY OF RENTON, WASHINGTON
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 6)
1978 LIMITED GENERAL OBLIGATION BOND 1989 LIMITED GENERAL OBLIGATION REFUNDING BOND
r VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 290,000 $ 290,000 $ 0 $ 290,000
0 0 0 0 0 0 0 0
300 4,318 4,018 196,282 1,000 0 (1,000) 1,000
300 4,318 4,018 196,282 291,000 290,000 (1,000) 291,000
0 0 0 0 235,000 235,000 0 210,000
200 3 197 9 65,475 65,392 83 80,912
200 3 197 9 300,475 300,392 83 290,912
100 4,315 4,215 196,273 (9,475) (10,392) (917) 88
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
100 4,315 4,215 196,273 (9,475) (10,392) (917) 88
198,749 198,749 0 2,478 63,074 63,074 0 62,987
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 198.849 $ 203.064 $ 4.215 $ 198.751 $ 53.599 $ 52.682 $ 19171 $ 63.075
W
r 89
CITY OF RENTON,WASHINGTON
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 3 OF 6)
1983 UNLIMITED GENERAL OBLIGATION REFUNDING BOND
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
R
REVENUES
Taxes $ 760,000 $ 803,774 $ 43,774 $ 726,394
Special Assessments 0 0 0 0
Interest 7,500 14,496 6,996 2,630
TOTAL REVENUES 767,500 818,270 50,770 729,024
EXPENDITURES
Debt Service:
Principal Retirement 680,000 680,000 0 655,000
Interest&Fiscal Charges 87,500 78,367 9,133 115,424
TOTAL EXPENDITURES 767,500 758,367 9,133 770,424
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 0 59,903 59,903 (41,400)
OTHER FINANCING SOURCES(USES)
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 0 59,903 59,903 (41,400)
FUND BALANCE JANUARY 1 542,938 542,938 0 584,892
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 542.938 $ 602.841 $ 59.903 $ 543.492
90
CITY OF RENTON,WASHINGTON
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 4 OF 6)
GENERAL GOVERNMENT MISCELLANEOUS DEBT 1989 UNLIMITED GENERAL OBLIGATION BOND
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 750,000 $ 1,191,070 $ 441,070 $ 742,678 $ 510,000 $ 535,849 $ 25,849 $ 570,808
0 0 0 0 0 0 0 0
5,000 16,562 11,562 27,310 5,000 8,726 3,726 3,460
755,000 1,207,632 452,632 769,988 515,000 544,575 29,575 574,268
804,976 804,976 0 359,418 300,000 300,000 0 275,000
_ 167,647 167,646 1 96,428 215,000 205,860 9,140 223,664
97273 972,622 1 455,846 515,000 505,860 9,140 498,664
(217,623) 235,010 452,633 314,142 0 38,715 38,715 75,604
399,501 399,501 0 0 0 0 0 0
0 0 0 (600,000) 0 0 0 0
399,501 399,501 0 (600,000) 0 0 0 0
181,878 634,511 452,633 (285,858) 0 38,715 38,715 75,604
r
250,371 250,371 0 597,731 462,018 462,018 0 386,850
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 432.249 $ 884.882 $ 452.633 $ 311.873 $ 462.018 $ 500.733 $ 38.715 $ 462.454
ow
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91
CITY OF RENTON, WASHINGTON
DEBT SERVICE FUNDS ..r
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 5 OF 6)
SPECIAL ASSESSMENT DEBT SERVICE FUND
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 0 $ 0 $ 0 $ 0
Special Assessments 494,153 689,931 195,778 516,929
Interest 6,500 166,998 160,498 187,512
TOTAL REVENUES 500,653 856,929 356,276 704,441
EXPENDITURES
Debt Service:
Principal Retirement 620,000 655,000 (35,000) 500,000
Interest&Fiscal Charges 85,653 90,303 (4,650) 123,564
TOTAL EXPENDITURES 705,653 745,303 (39,650) 623,564
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (205,000) 111,626 316,626 80,877
OTHER FINANCING SOURCES(USES)
Operating Transfers In 0 0 0 0
Operating Transfers(Out) (46,200) 0 46,200 (50,950)
TOTAL OTHER FINANCING SOURCES(USES) (46,200) 0 46,200 (50,950)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (251,200) 111,626 362,826 29,927
FUND BALANCE JANUARY 1 286,262 286,262 0 281,771
Residual Equity Transfers In 0 1,538 1,538 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 35,062 $ 399.426 $ 364.364 $ 311.698
92
CITY OF RENTON,WASHINGTON
r
r DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 6 OF 6)
SPECIAL ASSESSMENT GUARANTY FUND TOTALS
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 3,045,000 $ 3,555,693 $ 510,693 $ 3,069,880
0 0 0 0 494,153 689,931 195,778 516,929
16,800 17,342 542 31,448 42,865 228,442 185,577 449,642
16,800 17,342 542 31,448 3,582,018 4,474,066 892,048 4,036,451
0 0 0 0 2,639,976 2,674,976 (35,000) 1,999,418
0 0 0 0 1,357,240 1,342,740 14,500 1,375,373
0 0 0 0 3,997,216 4,017,716 (20,500) 3,374,791
16,800 17,342 542 31,448 (415,198) 456,350 871,548 661,660
N
0 0 0 0 399,501 399,501 0 0
(200,000) (200,000) 0 (605,000) (246,200) (200,000) 46,200 (1,255,950)
(200,000) (200,000) 0 (605,000) 153,301 199,501 46,200 (1,255,950)
(183,200) 1182,658) 542 (573,552) (261,897) 655,851 917,748 (594,290)
419,693 419,693 0 996,769 2,233,885 2,233,885 0 2,919,630
0 0 0 0 0 1,538 1,538 0
0 0 0 0 0 0 0 0
$ 236.493 $ 237.035 $ 542 $ 423.217 $ 1.971.988 $ 2.891.274 $ 919.286 $ 2.325.340
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93
CITY OF RENTON, WASHINGTON
THIS PAGE INTENTIONALLY LEFT BLANK
94
Copi! | Project Fund
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CITY OF RENTON,WASHINGTON
CAPITAL PROJECT FUNDS
DECEMBER 31, 1999
Capital Project Funds account for the acquisition or development of major capital
facilities, except those projects financed by proprietary funds. Sources of revenue to
these funds include general obligation bond proceeds, federal and state grants,
general property taxes, interest earnings and transfers from other funds.
City Hall Capital Improvement: Accounts for resources and expenditures related to the
purchase and remodeling of the building at the corner of Main Avenue South and
South Grady Way for the new Renton City Hall. Limited General Obligation Bonds were
issued in 1997 and the building was purchased in May 1997.
- 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.
• Community Development Impact Mitigation Fund: Created in 1999 to account for
monies collected from developers to offset impacts created by their developments to
City facilities.
Fire Impact Mitigation Fund: Created in 1999 to account for monies collected from
developers to offset impacts created by their developments to City facilities.
Transportation Impact Mitigation Fund: Created in 1999 to account for monies
collected from developers to offset impacts created by their developments to City
facilities.
Leased City Properties Fund: Created in 1999 to account for revenue and expenditures
related to City property leased to outside entities.
Municipal Facilities Construction Fund: Accounts for the acquisition and development
of municipal facilities. Resources included general and special revenue taxes and
Council-approved general obligation bonds.
General Government Capital Improvement Fund: Accounts for revenues and
expenditures for numerous capital improvement projects, to provide infrastructure
necessary for controlled 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.
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 that are repaid
- with permanent financing once the construction of the LID is complete.
95
CITY OF RENTON, WASHINGTON
CAPITAL PROJECT FUNDS r..
COMBINING BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2
CITY HALL OPEN SPACE COMMUNITY FIRE TRANSP
CAPITAL CAPITAL DEV IMPACT IMPACT IMPACT
IMPROVEMENT IMPROVEMENT MITIGATION MITIGATION MITIGATION
ASSETS:
r
Cash and Cash Equivalents $ 187,438 $ 0 $ 134,398 $ 248,018 $ 1,338,909
Investments at Fair Value 0 0 296,439 2,682,692 3,234,750
Receivables:
Interest on Investments 0 0 388 22,629 37,439
Due From Other Funds 0 0 0 0 0
Due From Other Governmental Units 0 0 0 0 0
Interfund Loans/Advances-Non-Current 0 0 0 0 0
TOTAL ASSETS $ 187.438 $ 0 $ 431.225 $ 2.953.339 $ 4.611.098
LIABILITIES AND FUND EQUITY: M
LIABILITIES:
Vouchers/Contracts Payable $ 187,438 $ 0 $ 0 $ 359 $ 0
Retainage Payable 0 0 5,503 0 150,057
Due To Other Funds 0 0 0 0 0
Accrued Taxes Payable 0 0 0 26 0
Interfund Loans/Advances-Non-Current 0 0 0 0 0
TOTAL LIABILITIES 187,438 0 5,503 385 150,057
FUND EQUITY: ..
Fund Balance:
Unreserved-Undesignated 0 0 425,722 2,952,954 4,461,041
TOTAL FUND EQUITY 0 0 425,722 2,952,954 4,461,041
TOTAL LIABILITIES AND FUND EQUITY $ 187.438 $ 0 $ 431.225 $ 2.953.339 $ 4,611,098
r
A
96
CITY OF RENTON,WASHINGTON
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 2)
LEASED MUNICIPAL SPECIAL COMPARATIVE TOTALS
CITY FACILITIES CAPITAL ASSESSMENT
PROPERTIES CONSTRUCTION IMPROVEMENT CONSTRUCTION 1999 1998
11/
$ 222,903 $ 1,241,291 $ 940,902 $ 0 $ 4,313,859 $ 7,983,673
0 5,307,185 5,229,021 0 16,750,087 9,919,726
0 85,461 0 0 145,917 89,095
• 0 288,281 0 0 288,281 71,503
0 164,645 2,251,068 0 2,415,713 1,272,286
0 600,000 0 0 600,000 0
$ 222.903 $ 7.686.863 $ 8.420.991 $ 0 $ 24.513.857 $ 19.336.283
r
$ 27,599 $ 1,259,143 $ 422,467 $ 0 $ 1,897,006 $ 338,984
14,572 24,740 100,275 0 295,147 286,977
r 0 0 37,884 0 37,884 46,196
0 646 557 0 1,229 451
600,000 0 0 0 600,000 0
642,171 1,284,529 561,183 0 2,831,266 672,608
(419,268) 6,402,334 7,859,808 0 21,682,591 18,663,675
(419,268) 6,402,334 7,859,808 0 21,682,591 18,663,675
$ 222.903 $ 7.686.863 $ 8,420.991 $ 0 $ 24.513.857 $ 19.336.283
r
it
Ir
fr
r
97
CITY OF RENTON, WASHINGTON
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2)
CITY HALL OPEN SPACE COMMUNITY FIRE
CAPITAL CAPITAL DEV IMPACT IMPACT
IMPROVEMENT IMPROVEMENT MITIGATION MITIGATION
REVENUES
Taxes $ 0 $ 0 $ 0 $ 0
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 0
Charges For Services 0 0 223,648 595,117
Contributions 0 0 0 0
Interest 67,773 0 28,249 130,318
Miscellaneous Revenues 0 0 0 0
TOTAL REVENUES 67,773 0 251,897 725,435
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 0 0 0 0
Capital Outlay 2,921,058 0 195,907 689,247
TOTAL EXPENDITURES 2,921,058 0 195,907 689,247
EXCESS(DEFICIENCY)OF REVENUES .w
OVER EXPENDITURES (2,853,285) 0 55,990 36,188
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0 0
Interfund Loan Repayments 0 0 0 0
Operating Transfers In 0 0 0 0
Operating Transfers(Out) 0 0 (200,000) 0
Sale Of General Fixed Assets 0 0 0 0
TOTAL OTHER FINANCING SOURCES(USES) 0 0 (200,000) 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (2,853,285) 0 (144,010) 36,188
FUND BALANCE JANUARY 1 2,853,285 0 0 0
Residual Equity Transfers In 0 0 569,732 2,916,766
Residual Equity Transfers Out 0 0 0 0
FUND BALANCE DECEMBER 31 $ 0 $ 0 $ 425.722 $ 2,952,954
�n
1
98 '
CITY OF RENTON,WASHINGTON
1a
No CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 2)
TRANSP LEASED MUNICIPAL SPECIAL TOTALS
IMPACT CITY FACILITIES CAPITAL ASSESSMENT
MITIGATION PROPERTIES CONSTRUCTION IMPROVEMENT CONSTRUCTION 1999 1998
$ 0 $ 70,000 $ 1,403,926 $ 0 $ 0 $ 1,473,926 $ 1,660,678
0 0 0 2,047,940 0 2,047,940 2,059,440
0 0 335,331 2,446,305 0 2,781,636 5,103,566
to 855,407 0 0 438 0 1,674,610 86,502
0 0 39,000 0 0 39,000 0
191,569 0 318,119 (20,138) 2,020 717,910 527,942
0 35,888 120,956 0 0 156,844 6,541
IN 1,046,976 105,888 2,217,332 4,474,545 2,020 8,891,866 9,444,669
0 83,899 0 0 0 83,899 0
0 0 0 5,564,159 0 5,564,159 6,146,771
0 0 9,916 0 0 9,916 0
140,107 441,257 5,872,377 0 7,917 10,267,870 8,830,470
140,107 525,156 5,882,293 5,564,159 7,917 15,925,844 14,977,241
906,869 (419,268) (3,664,961► (1,089,614) (5,897) (7,033,978) (5,532,572)
0 0 0 0 38,990 38,990 0
0 0 0 0 (148,000) (148,000) 0
767,341 0 2,447,100 751,448 0 3,965,889 6,169,003
(43,268) 0 0 (767,341) 0 (1,010,609) (5,735)
on 0 0 528,283 363,282 0 891,565 338,678
724,073 0 2,975,383 347,389 (109,010) 3,737,835 6,501,946
ft 1,630,942 (419,268) (689,578) (742,225) (114,907) (3,296,143) 969,374
0 0 7,091,912 8,602,033 116,445 18,663,675 17,694,301
2,830,099 0 0 0 0 6,316,597 0
an 0 0 0 0 (1,538) (1,538) 0
$ 4.461.041 $ 1419.2681 $ 6.402.334 $ 7.859.808
$ 0 $ 21.682.591 $ 18.663.675
I•
rr
■II
99
CITY OF RENTON,WASHINGTON
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 7)
CITY HALL CAPITAL IMPROVEMENT
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 0 $ 0 $ 0 $ 0
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 0
Charges For Services 0 0 0 7,743
Contributions 0 0 0 0
Interest 325,000 94,786 (230,214) 264,804
Miscellaneous Revenues 0 0 0 0
TOTAL REVENUES 325,000 94,786 (230,214) 272,547
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 0 0 0 0
Capital Outlay 2,921,470 2,921,058 412 4,687,433
Debt Service:
Interest&Fiscal Charges 0 0 0 0
TOTAL EXPENDITURES 2,921,470 2,921,058 412 4,687,433
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (2,596,470) (2,826,272) (229,802) (4,414,886)
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0 0
Interfund Loan Proceeds 0 0 0 0
Interfund Loan Repayments 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
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (2,596,4701 (2,826,272► (229,802) (4,414,886)
FUND BALANCE JANUARY 1 2,826,272 2,826,272 0 7,268,171
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 229.802 $ 0 $ 1229.8021 $ 2.853.285
F
t�
100
CITY OF RENTON, WASHINGTON
11� CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 2 OF 7)
OPEN SPACE CAPITAL IMPROVEMENT COMMUNITY DEVELOPMENT IMPACT MITIGATION
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 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 0 100,000 223,648 123,648 0
0 0 0 0 0 0 0 0
0 0 0 12,210 20,500 31,422 10,922 0
0 0 0 0 0 0 0 0
0 0 0 12,210 120300 255,070 134,570 0
r
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 0 616,687 544,456 195,907 348,549 0
0 0 0 0 0 0 0 0
0 0 0 616,687 544,456 195,907 348,549 0-
0 0 0 (604,477) (423,956) 59,163 483,119 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
0 0 0 0 0 (200,000) (200,000) 0
0 0 0 0 0 0 0 0
0 0 0 0 0 (200,000) (200,000) 0
0 0 0 (604,477) (423,956) (140,837) 283,119 0
0 0 0 604,477 0 0 0 0
0 0 0 0 569,732 569,732 0 0
0 0 0 0 0 0 0 0
$ 0 $ 0 $ 0 $ 0 $ 145.776 $ 428.895 $ 283.119 $ 0
r
OFFICE OF THE CITY CLERK
Renton Municipal Bldg.
1055 South Grade Way
Renton, WA 96066
~ 101
CITY OF RENTON, WASHINGTON
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 3 OF 7)
FIRE IMPACT MITIGATION
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 0 $ 0 $ 0 $ 0
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 0
Charges For Services 450,000 595,118 145,118 0
Contributions 0 0 0 0
Interest 60,000 124,997 64,997 0
Miscellaneous Revenues 0 0 0 0
TOTAL REVENUES 510,000 720,115 210,115 0
EXPENDITURES
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 0 0 0 0
Capital Outlay 1,240,000 689,222 550,778 0
Debt Service:
Interest&Fiscal Charges 0 0 0 0
TOTAL EXPENDITURES 1,240,000 689,222 550,778 0
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (730,000) 30,893 760,893 0
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0 0
Interfund Loan Proceeds 0 0 0 0
Interfund Loan Repayments 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
TOTAL OTHER FINANCING SOURCES(USES) 0 0 0 0
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 1730,000) 30,893 760,893 0
FUND BALANCE JANUARY 1 0 0 0 0
Residual Equity Transfers In 2,916,766 2,916,766 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 2.186.766 $ 2.947.659 $ Old
760.893 $ 0
102
CITY OF RENTON,WASHINGTON
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
up WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 4 OF 7)
TRANSPORTATION IMPACT MITIGATION LEASED CITY PROPERTIES
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
to $ 0 $ 0 $ 0 $ 0 $ 0 $ 70,000 $ 70,000 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
500,000 855,407 355,407 0 0 0 0 0
to 0 0 0 0 0 0 0 0
85,000 160,787 75,787 0 0 0 0 0
0 0 0 0 0 35,888 35,888 0
585,000 1,016,194 431,194 0 0 105,888 105,888 0
go
0 0 0 0 85,000 83,900 1,100 0
0 0 0 0 0 0 0 0
1w 0 0 0 0 0 0 0 0
899,700 140,107 759,593 0 450,000 441,257 8,743 0
0 0 0 0 0 0 0 0
899,700 140,107 759,593 0 535,000 525,157 9,843 0
(314,700) 876,087 1,190,787 0 (535,000) (419,269) 115,731 0-
0 0 0 0 0 0 0 0
0 0 0 0 235,000 300,000 65,000 0
0 0 0 0 0 0 0 0
767,341 767,341 0 0 300,000 300,000 0 0
f11 (43,268) (43,268) 0 0 0 0 0 0
0 0 0 0 0 0 0 0
724773 724,073 0 0 535,000 600,000 65,000 0
409,373 1,600,160 1,190,787 0 0 180,731 180,731 0
0 0 0 0 0 0 0 0
1111 2,830,099 2,830,099 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 3.239.472 $ 4,430.259 $ 1.190.787 $ 0 $ 0 $ 180.731 $ 180.731 $ 0
r
r
r
11U
103
CITY OF RENTON,WASHINGTON
CAPITAL PROJECTS FUNDS �r
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 5 OF 7)
MUNICIPAL FACILITIES CONSTRUCTION
VARIANCE
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 825,000 $ 1,375,468 $ 550,468 $ 1,610,678 •A*
Licenses And Permits 0 0 0 0
Intergovernmental Revenues 0 0 0 7,635
Charges For Services 0 0 0 775
Contributions 0 39,000 39,000 0 wM
Interest 250,000 350,318 100,318 246,270
Miscellaneous Revenues 130,000 120,956 (9,044) 0
TOTAL REVENUES 1,205,000 1,885,742 680,742 1,865,358
EXPENDITURES "
Current:
General Government 0 0 0 0
Transportation 0 0 0 0
Economic Environment 50,000 9,916 40,084 0 �.
Capital Outlay 10,659,107 5,882,181 4,776,926 3,506,924
Debt Service:
Interest&Fiscal Charges 0 0 0 0
TOTAL EXPENDITURES 10,709,107 5,892,097 4,817,010 3,506,924
EXCESS (DEFICIENCY)OF REVENUES
OVER EXPENDITURES (9,504,107) (4,006,355) 5,497,752 (1,641,566)
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 0 0 0
Interfund Loan Proceeds 0 0 0 0
Interfund Loan Repayments 0 (300,000) (300,000) 0
Operating Transfers In 2,487,100 2,447,100 (40,000) 4,124,752
Operating Transfers(Out) (300,000) (300,000) 0 (5,735)
Sale Of General Fixed Assets 0 528,283 528,283 338,678
TOTAL OTHER FINANCING SOURCES(USES) 2,187,100 2,375,383 188,283 4,457,695
EXCESS (DEFICIENCY)OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (7,317,007) (1,630,972) 5,686,035 2,816,129
FUND BALANCE JANUARY 1 6,938,381 6,938,381 0 4,275,783
Residual Equity Transfers In 0 0 0 0
Residual Equity Transfers(Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ (378.6261 $ 5.307.409 $ 5.686.035 $ 7.091.912
104
CITY OF RENTON, WASHINGTON
•
If1r CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 6 OF 7)
CAPITAL IMPROVEMENTS SPECIAL ASSESSMENT CONSTRUCTION FUND
VARIANCE VARIANCE
FAVORABLE 1998 FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 50,000 $ 0 $ 0 $ 0 $ 0
1,608,000 2,047,940 439,940 2,059,440 0 0 0 0
6,282,019 1,823,170 (4,458,849) 5,095,931 0 0 0 0
0 439 439 77,984 0 0 0 0
r 0 0 0 0 0 0 0 0
0 0 0 (841) 0 2,019 2,019 5,499
0 0 0 6,541 0 0 0 0-
7,890,019 3,871,549 (4,018,470) 7,289,055 0 2,019 2,019 5,499
r
0 0 0 0 0 0 0 0
15,250,784 5,572,157 9,678,627 6,146,771 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 7,916 (7,916) 19,426
12,108 0 12,108 0 0 0 0 0
15,262,892 5,572,157 9,690,735 6,146,771 0 7,916 (7,916) 19,426
r
(7,372,873) (1,700,608) 5,672,265 1,142,284 0 (5,897) (5,897) (13,927)
r 0 0 0 0 0 38,990 38,990 0
0 0 0 0 0 0 0 0
0 0 0 0 (157,455) (148,000) 9,455 0
751,448 751,691 243 2,044,251 0 0 0 0
(767,341) (767,341) 0 0 0 0 0 0
354,403 0 (354,403) 0 0 0 0 0
338,510 (15,650) (354,160) 2,044,251 (157,455) (109,010) 48,445 0
1�
(7,034,363) (1,716,258) 5,318,105 3,186,535 (157,455) (114,907) 42,548 (13,927)
7,384,417 7,384,417 0 5,415,498 116,445 116,445 0 130,372
0 0 0 0 0 0 0 0
0 0 0 0 0 (1,538) (1,538) 0
$ 350.054 $ 5.668.159 $ 5.318.105 $ 8.602.033 $ 141.0101 $ 0 $ 41.010 $ 116.445
i
r
105
CITY OF RENTON,WASHINGTON
..
CAPITAL PROJECTS FUNDS aw
COMBINING STATEMENT OF REVENUES,EXPENDITURES,
AND CHANGES IN FUND BALANCE,BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 7 OF 7)
TOTALS
VARIANCE .r
FAVORABLE 1998
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 825,000 $ 1,445,468 $ 620,468 $ 1,660,678
Licenses And Permits 1,608,000 2,047,940 439,940 2,059,440
Intergovernmental Revenues 6,282,019 1,823,170 (4,458,849) 5,103,566
Charges For Services 1,050,000 1,674,612 624,612 86,502
Contributions 0 39,000 39,000 0
Interest 740,500 764,329 23,829 527,942
Miscellaneous Revenues 130,000 156,844 26,844 6,541
TOTAL REVENUES 10,635,519 7,951,363 (2,684,156) 9,444,669
EXPENDITURES
Current:
General Government 85,000 83,900 1,100 0
Transportation 15,250,784 5,572,157 9,678,627 6,146,771
Economic Environment 50,000 9,916 40,084 0 ...
Capital Outlay 16,714,733 10,277,648 6,437,085 8,830,470
Debt Service:
Interest&Fiscal Charges 12,108 0 12,108 0
TOTAL EXPENDITURES 32,112,625 15,943,621 16,169,004 14,977,241
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (21,477,106) (7,992,258) 13,484,848 (5,532,572)
OTHER FINANCING SOURCES(USES)
Proceeds Of Long-Term Debt 0 38,990 38,990 0
Interfund Loan Proceeds 235,000 300,000 65,000 0
Interfund Loan Repayments (157,455) (448,000) (290,545) 0
Operating Transfers In 4,305,889 4,266,132 (39,757) 6,169,003
Operating Transfers(Out) (1,110,609) (1,310,609) (200,000) (5,735) ..
Sale Of General Fixed Assets 354,403 528,283 173,880 338,678
TOTAL OTHER FINANCING SOURCES(USES) 3,627,228 3,374,796 (252,432) 6,501,946
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (17,849,878) (4,617,462) 11232,416 969,374
FUND BALANCE JANUARY 1 17,265,515 17,265,515 0 17,694,301
Residual Equity Transfers In 6,316,597 6,316.597 0 0
Residual Equity Transfers(Out) 0 (1,538) (1,538) 0
FUND BALANCE DECEMBER 31 $_5 732,234 $ 18.963.112 $ 13.230.878 $ 18.663.675
106
-
� c�y2G��\,m�±
Enterprise Fund
1
1
1
1
1
1
1
1
1
f
1
1
1
CITY OF RENTON, WASHINGTON
ENTERPRISE FUNDS
DECEMBER 31, 1999
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 users 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 which provide
administration, debt service, operation, capital improvements and maintenance of the
Renton Municipal Airport and Will Rogers-Wily 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 in this fund, supported entirely by service fees. Expenses
include payment to the City's garbage contractor and other service charges.
rr 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.
107
CITY OF RENTON, WASHINGTON
ENTERPRISE FUNDS r
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 2)
WATERWORKS AIRPORT SOLID WASTE
UTILITY UTILITY
ASSETS:
Current Assets:
Cash and Cash Equivalents $ 3,003,273 $ 659,390 $ 301,368
Investments at Fair Value 2,150,714 2,485,599 248,965
Receivables:
Accounts 1,715,977 13,100 1,381,090
Interest on Investments 25,849 28,862 1,379
Notes Receivable-Current 0 0 0
Due From Other Funds 736 0 0
Due From Other Governmental Units 740,521 0 126,328
Inventory of Material and Supplies 541,308 0 0
Prepaid Items 0 20,000 0
Total Current Assets 8,178,378 3,206,951 2,059,130
Restricted Assets:
Deposits 33,599 0 0
Revenue Bond Debt Service 4,859,254 0 0
Construction Account 1,589,322 0 0
Total Restricted Assets 6,482,175 0 0
Note Receivable-Non-Current 0 0 0
Property,Plant and Equipment:
Fixed Assets(Net) 130,265,941 3,745,500 81,646
Construction In Progress 8,241,727 1,075,712 0
Total Property,Plant and Equipment 138,507,668 4,821,212 81,646
Deferred Charges and Other Assets 64,000 0 0
TOTAL ASSETS $ 153.232.221 $ 8A28.163 $ 2,140.776
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers/Contracts Payable $ 1,000,794 $ 7,482 $ 621,182
Retainage Payable 116,908 13,493 0
Due To Other Funds 25,691 20,000 0
Due To Other Governmental Units 650,655 0 0 rw
Accrued Interest Payable 273,263 0 1,098
Accrued Wages Payable 25,443 1,871 502
Accrued Employee Benefits Payable 3,116 229 62
Accrued Taxes Payable 39,191 21,167 33,339
Deferred Revenues 321,416 42,647 0
Capital Leases Payable-Current 0 0 0
Total Current Liabilities 2,456,477 106,889 656,183
Liabilities Payable from Restricted Assets:
Deposits Payable 33,599 0 0
General Obligation Bonds Payable-Current 0 0 0
Revenue Bonds Payable-Current Portion 1,630.000 0 0
Total Liabilities Payable from Restricted Assets 1,663,599 0 0
Long Term Liabilities:
General Obligation Bonds Payable 0 0 0
Unamortized Discounts on G.O.Bond 0 0 0
Revenue Bonds Payable 20,470,000 0 0
Unamortized Discounts on Revenue Bond (941,100) 0 0
Accrued Employee Leave Benefits 313,022 35,085 4,016
Capital Leases Payable 0 0 0
Installment Purchase Contracts 70,160 0 0
Public Works Trust Fund Loan Payable 8,440,182 0 0
Total Long Term Liabilities 28,352,264 35,085 4,016
TOTAL LIABILITIES 32,472,340 141,974 660,199
FUND EQUITY:
Contributed Capital 98,339,131 2,100,286 166,166
Retained Earnings:
Reserved 9,894,553 0 0
Unreserved 12,526,197 5,785,903 1,314,411
TOTAL FUND EQUITY 120,759,881 7,886,189 1,480,577
TOTAL LIABILITIES AND FUND EQUITY $ 153.232.221 $ 8.028.163 $ 2140.776
108
CITY OF RENTON, WASHINGTON
rr
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 2 OF 2)
COMPARATIVE TOTALS
GOLF
COURSE 1999 1998
r
$ 210,037 $ 4,174,068 $ 4,673,337
595,457 5,480,735 3,743,926
27,584 3,137,751 2,746,647
3,917 60,007 38,196
21,673 21,673 21,609
0 736 264,151
r 0 866,849 636,939
97,054 638,362 534,729
0 20,000 0
955,722 14,400,181 12,659,534
0 33,599 16,623
441,358 5,300,612 6,143,306
0 1,589,322 653,287
441,358 6,923,533 6,813,216
10 44,514 44,514 66,187
8,862,861 142,955,948 136,769,553
0 9,317,439 10,569,626
8,862,861 152,273,387 147,339,179
0 64,000 80,000
$ 10.304.455 $ 173.705.615 $ 166.958.116
$ 20,261 $ 1,649,719 $ 834,254
0 130,401 106,225
0 45,691 20,715
Ir 0 650,655 568,219
18,935 293,296 316,568
2,667 30,483 22,335
327 3,734 3,384
7,997 101,694 101,259
1,838 365,901 79,063
17,583 17,583 40,384
69,608 3,289,157 2,092,406
Irl 107,686 141,285 105,748
0 0 399,000
210,000 1,840,000 2,090,000
317,686 1,981,285 2,594,748
r 0 0 1,477,825
0 0 (24,525)
4,550,000 25,020,000 26,490,000
(556,231) (1,497,331) (1,088,170)
No 43,731 395,854 328,898
24,693 24,693 41,712
0 70,160 136,537
0 8,440,182 8,739,937
4,062,193 32,453,558 36,102,214
110 4,449,487 37,724,000 40,789,368
1,412,225 102,017,808 93,636,376
441,358 10,335,911 8,353,765
4,001,385 23,627,896 24,178,607
5,854,968 135,981,615 126,168,748
$ 10.304.455 $ 173.705.615 $ 166.958.116
109
CITY OF RENTON,WASHINGTON
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 1 OF 2)
WATERWORKS SOLID WASTE
UTILITY AIRPORT UTILITY
OPERATING REVENUES:
Charges for Services $ 20,176,839 $ 388,984 $ 8,373,557
Other Operating Revenue 1,303,559 7,558 2,479
TOTAL OPERATING REVENUE 21,480,398 396,542 8,376,036
OPERATING EXPENSES:
Operations and Maintenance 12,923,365 281,200 7,201,530
Administrative and General 1,756,727 100,763 0
Insurance 0 12,200 0
Taxes 1,727,350 0 1,069,374
Depreciation 2,998,977 213,328 78,099
TOTAL OPERATING EXPENSES 19,406,419 607,491 8,349,003
OPERATING INCOME(LOSS) 2,073,979 (210,949) 27,033
NON-OPERATING REVENUE(EXPENSE):
Interest Revenue 303,912 106,119 20,187
Other Non-operating Revenue 58,726 0 119,582
Interest Expense (1,313,469) 0 0
Amortization of Debt Discount and Expense (87,839) 0 0-
NON-OPERATING REVENUE NET OF EXPENSES (1,038,670) 106,119 139,769
INCOME(LOSS)BEFORE OPERATING TRANSFERS 1,035,309 (104,830) 166,802
Operating Transfers In(Out) (82,080) 0 0
NET INCOME(LOSS) 953,229 (104,830) 166,802
Depreciation Reducing Grant Contributed Capital 0 155,212 0
INCREASE(DECREASE)IN RETAINED EARNINGS 953,229 5072 166,802
RETAINED EARNINGS,JANUARY 1 21,467,521 5,735,521 1,147,609
Residual Equity Transfers In(Out) 0 0 0 1�
RETAINED EARNINGS,DECEMBER 31 22,420,750 5,785703 1,314,411
CONTRIBUTED CAPITAL,JANUARY 1 92,247,661 1,383,715 0
Capital Grants 1,857,569 871,783 0
Amortization on Capital Grants 0 (155,212) 0
Other Contributed Capital 4,233,901 0 166,166
CONTRIBUTED CAPITAL,DECEMBER 31 98,339,131 2,100,286 166,166
FUND EQUITY,DECEMBER 31 $ 120.759.881 $ 7.886.189 $ 1,480.577
r�
r
110
CITY OF RENTON,WASHINGTON
1r
IN ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 2 OF 2)
TOTALS
GOLF
COURSE 1999 1998
$ 2,012,928 $ 30,952,308 $ 30,870,058
190,636 1,504,232 1,359,179
2,203,564 32,456,540 32,229,237
1,269,230 21,675,325 19,953,718
0 1,857,490 1,740,711
0 12,200 10,460
9,259 2,805,983 2,782,367
304,349 3,594,753 3,238,003
1,582,838 29,945,751 27,725,259
620,726 2,510,789 4,503,978
48,653 478,871 752,812
0 178,308 105,687
(146,826) (1,460,295) (1,667,370)
0 (87,839) (91,667)
(98,173) (890,955) (900,538)
522,553 1,619,834 3,603,440
(261,531) (343,611) 374,372
261,022 1,276,223 3,977,812
N
0 155,212 128,334
261,022 1,431,435 4,106,146
4,181,721 32,532,372 28,457,781
w 0 0 (31,5551
4,442,743 33,963,807 32,532,372
5,000 93,636,376 87,739,176
60 0 2,729,352 1,137,956
0 (155,212) (128,334)
1,407,225 5,807,292 4,887,578
1,412,225 102,017,808 93,636,376
11w $ 5.854.968 $ 135.981.615 $ 126.168.748
w
w
i
i
111
CITY OF RENTON, WASHINGTON
aar
ENTERPRISE FUNDS -+
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 4)
are
SOLID WASTE
WATERWORKS AIRPORT UTILITY
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers $ 19,815,423 $ 373,877 $ 8,238,870
Cash Received From Other Funds for Services 396,901 0 0
Cash Paid to Suppliers for Goods and Services (9,080,723) (135,353) (7,292,302)
Cash Paid to Other Funds for Goods and Services (2,889,505) (60,433) (275,454) aae
Cash Paid to Employees (2,699,213) (189,841) (124,624)
Cash Paid for City Utility Taxes (1,197,276) 0 (500,238)
Other Operating Receipts 1,303,559 7,558 2,479
Other Non-Operating Receipts 58,726 49,268 39,988
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES 5,707,892 45,076 88,719
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Transfers From Other Funds (82,080) 0 0
Repayments on Interfund Loans 0 0 0 r.
NET CASH PROVIDED(USED)BY NONCAPITAL FINANCING ACTIVITIES (82,080) 0 0
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Payments on Bond Issuance and Registration Fees 3,131 0 0
Proceeds From State Long-Term Loans 0 0 0 ...
Proceeds From Sale of Equipment 0 0 0
Acquisition and Construction of Capital Assets (7,611,538) (630,468) (102,083)
Capital Contributions 4,233,901 0 0
Capital Grants 1,857,569 871,783 0
Principal Payments on Bonds (2,207,040) 0 0 r
Interest Payments on Bonds (1,325,954) 0 0
Payments on State Long-Term Loans (283,696) 0 0
Residual Equity Transfer In(Out) 0 0 0
NET CASH PROVIDED(USED)BY CAPITAL FINANCING ACTIVITIES (5,333,627) 241,315 (102,083)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments 1,323,476 1,117,119 1,035
Payments for Investments (1,884,349) (2.000,000) (250,000)
Interest on Investments 301,517 87,609 18,808
NET CASH PROVIDED(USED)BY INVESTING ACTIVITIES (259,356) (795,272) (230,157)
NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS 32,829 (508,881) (243.521)
CASH AND CASH EQUIVALENTS,JANUARY 1 9,452,619 1,168,271 544,889
CASH AND CASH EQUIVALENTS,DECEMBER 31 $ 9.485.448 $ 659.390 $ 301.368
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents $ 3,003,273 $ 659,390 $ 301,368
Cash Restricted for:
Deposits 33,599 0 0
Revenue Bond Debt Service 4,859,254 0 0
Construction Account 1,589,322 0 0
TOTAL CASH AT THE END OF THE YEAR $ 9.485.448 $ 659.390 $ 301.368
4-
112 '
CITY OF RENTON, WASHINGTON
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
to (PAGE 2 OF 4)
TOTALS
GOLF
COURSE 1999 1998
is
$ 2,058,227 $ 30,486,397 $ 30,493,775
0 396,901 401,669
(372,099) (16,880,477) (15,791,706)
In (256,966) (3,482,358) (3,531,084)
(641,517) (3,655,195) (3,561,470)
0 (1,697,514) (1,685,411)
190,636 1,504,232 1,371,364
0 147,982 0
978,281 6,819,968 7,697,137
(261,531) (343,611) 374,372
0 0 (52,680)
(261,531) (343,611) 321,692
0 3,131 (670,001)
OB 0 0 4,288,567
21,609 21,609 16,881
(184,872) (8,528,961) (15,947,727)
0 4,233,901 4,887,578
1,407,225 4,136,577 1,137,956
IN (996,309) (3,203,349) (1,799,811)
(638,818) (1,964,772) (1,682,812)
0 (283,696) (512,265)
0 0 (31,555)
(391,165) (5,585,560) (10,313,189)
205,910 2,647,540 7,802,094
(250,000) (4,384,349) (9,886,518)
49,126 457,060 884,842
5,036 (1,279,749) (1,199,582)
330,621 (388,952) (3,493,9421
320,774 11,486,553 14,980,495
$ 651.395 $ 11.097.601 $ 11.486.553
Ills
$ 210,037 $ 4,174,068 $ 4,673,337
0 33,599 16,623
441,358 5,300,612 6,143,306
0 1,589,322 653,287
$ 651.395 $ 11.097.601 $ 11.486.553
to
r
in
w 113
CITY OF RENTON,WASHINGTON
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998 w"
(PAGE 3 OF 4)
SOLID WASTE
WATERWORKS AIRPORT UTILITY
RECONCILIATION OF OPERATING INCOME(LOSS)TO NET CASH
PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating Income(Loss) $ 2,073,979 $ 1210,949) $ 27,033 i
Adjustments to Reconcile Operating Income(Loss)
to Net Cash Provided(Used)By Operating Activities:
Depreciation and Amortization of Deferred Charge 3,014,977 213,328 78,099
Other Non-Operating Revenue 58,726 0 119,582
(Increase)Decrease in Accounts Receivable (264,676) (13,100) (135,580)
(Increase)Decrease in Due From Other Funds/Governmental (197,700) 49,268 (79,594)
(Increase)Decrease in Inventory/Prepaid Items (95,134) (20,000) 0
Increase(Decrease)in Vouchers/Retainage Payable 758,898 3,427 73,371
Increase(Decrease)in Due to Other Funds/Governmental 4,976 20,000 0
Increase(Decrease)in Payables/Other Short Term Liabilities 3,063 165 2,813
Increase(Decrease)in Customer Deposits 16,976 0 0
Increase(Decrease)in Deferred Revenues 285,095 (95) 0
Increase(Decrease)in Accrued Employee Leave Benefits 48,712 3,032 2,995
Total Adjustments 3,633,913 256,025 61,686
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES $ 5.707.892 $ 45.076 $ 88.719
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers $ 1,936,868 $ 0 $ 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES $ 1.936.868 $ 0 $ 0
i
1
114 ,
CITY OF RENTON,WASHINGTON
r.
1n
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 4 OF 4)
TOTALS
GOLF
COURSE 1999 1998
$ 620,726 $ 2,510,789 $ 4,503,978
304,349 3,610,753 3,254,003
0 178,308 105,687
22,252 (391,104) 47,926
0 (228,026) (212,496)
(8,499) (123,633) (55,629)
3,945 839,641 206,757
0 24,976 (95,378)
2,892 8,933 8,146
18,561 35,537 9,610
1,838 286,838 (33,071)
12,217 66,956 (42,396)
357,555 4,309,179 3,193,159
$ = $ 6.819.968 $ 7.697.137
$ 0 $ 1,936,868 $ 3,494,554
r $ 0 $ 1,936,868 $ 3.494554
w
•
115
CITY OF RENTON, WASHINGTON
THIS PAGE INTENTIONALLY LEFT BLANK
116
Internal Service Funds
"' i
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
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1
CITY OF RENTON, WASHINGTON
INTERNAL SERVICE FUNDS
DECEMBER 31, 1999
Internal service funds are used to account for the financing of goods and services
" provided by one department or agency to other departments or agencies of the City.
Equipment Rental Fund: Accounts for the costs of maintaining and replacing all City
vehicles and auxiliary equipment except for fire apparatus and replacement of police
patrol vehicles. All equipment costs, including depreciation, are factors in calculating
the rates which are 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.
117
CITY OF RENTON,WASHINGTON
INTERNAL SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1)
COMPARATIVE TOTALS
EQUIPMENT INSURANCE
RENTAL 1999 1998
ASSETS:
Current Assets:
Cash and Cash Equivalents $ 473,422 $ 1,101,053 $ 1,574,475 $ 2,456,130
Cash With Fiscal Agent 0 0 0 14,925
Investments at Fair Value 1,395,210 2,901,968 4,297,178 4,961,131
Receivables w
Accounts 402 5,250 5,652 18,044
Interest on Investments 80,479 52,323 132,802 84,816
Due From Other Funds 0 20,000 20,000 0
Due From Other Governmental Units 0 31,746 31,746 117,217 .�
Inventory of Material and Supplies 83,353 0 83,353 79,074
Prepaid Items 0 3,156 3,156 10,162
Total Current Assets 2,032,866 4,115,496 6,148,362 7,741,499
Property,Plant and Equipment:
Fixed Assets(Net) 4,657,690 81,391 4,739,081 3,032,806
Total Property,Plant and Equipment 4,657,690 81,391 4,739,081 3,032,806
TOTAL ASSETS $ 6.690.556 $ 4.196.887 $ 10.887,443 $ 10.774.305
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers/Contracts Payable $ 230,521 $ 89,978 $ 320,499 $ 81,097
Due To Other Funds 0 0 0 810
Matured Interest Payable 0 0 0 14,925
Accrued Interest Payable 0 0 0 871
Accrued Wages Payable 3,023 284 3,307 651
Accrued Employee Benefits Payable 370 35 405 99
Accrued Taxes Payable 175 92 267 133
Deposits Payable 0 38,146 38,146 0
General Obligation Bonds Payable-Current 0 0 0 32,250
Total Current Liabilities 234,089 128,535 362,624 130,836
Long Term Liabilities:
General Obligation Bonds Payable 0 0 0 1,238,728 ...
Unamortized Discounts on G.O.Bond 0 0 0 (43,536)
Accrued Employee Leave Benefits 38,442 6,580 45,022 39,279
Claims Incurred But Not Reported 0 2,184,914 2,184,914 2,741,045
Total Long Term Liabilities 38,442 2,191,494 2,229.936 3,975,516
TOTAL LIABILITIES 272,531 2,320,029 2,592,560 4,106,352
FUND EQUITY:
Contributed Capital 2,282,377 0 2,282,377 1,054,934
Retained Earnings:
Unreserved 4,135,648 1,876,858 6,012,506 5,613,019
TOTAL FUND EQUITY 6,418,025 1,876,858 8,294,883 6,667,953
TOTAL LIABILITIES AND FUND EQUITY $ 6,690.556 $ 4.196.887 $ 10.887.443 $ 10.774.305 '
r
118
CITY OF RENTON, WASHINGTON
�Ir
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1)
TOTALS
EQUIPMENT
RENTAL INSURANCE 1999 1998
OPERATING REVENUES:
Charges for Services $ 2,632,212 $ 5,354,537 $ 7,986,749 $ 7,385,502
Other Operating Revenue 0 14,211 14,211 9,489
IN TOTAL OPERATING REVENUE 2,632,212 5,368,748 8,000,960 7,394,991
OPERATING EXPENSES:
Operations and Maintenance 1,197,038 107,573 1,304,611 1,298,746
Benefit Payments 0 4,984,700 4,984,700 5,470,846
Professional Services 0 369,134 369,134 277,779
Administrative and General 299,260 170,622 469,882 465,077
Insurance 0 432,916 432,916 407,389
Depreciation 593,741 6,215 599,956 501,433
TOTAL OPERATING EXPENSES 2,090,039 6,071,160 8,161,199 8,421,270
r
OPERATING INCOME(LOSS) 542,173 (702,412) (160,239) 11,026,279)
NON-OPERATING REVENUE(EXPENSE):
Interest Revenue 111,466 117,043 228,509 342,967
Gain(Loss)on Sale of Assets 71,711 0 71,711 46,606
Other Non-operating Revenue(Expense) 871 258,635 259,506 169,823
Interest Expense 0 0 0 (16,115)
Amortization of Debt Discount and Expense 0 0 0 (300)
NON-OPERATING REVENUE NET OF EXPENSES 184,048 375,678 559,726 542,981
INCOME(LOSS)BEFORE OPERATING TRANSFERS 726,221 (326,734) 399,487 (483,298)
Operating Transfers In(Out) 0 0 0 795,000
NET INCOME(LOSS) 726,221 (326,734) 399,487 311,702
RETAINED EARNINGS,JANUARY 1 3,409,427 2,203,592 5,613,019 5,332,872
Residual Equity Transfers In(Out) 0 0 0 (31,555)
RETAINED EARNINGS,DECEMBER 31 4,135,648 1,876,858 6,012,506 5,613,019
CONTRIBUTED CAPITAL,JANUARY 1 1,054,934 0 1,054,934 1,054,934
Other Contributed Capital 1,227,443 0 1,227,443 0
CONTRIBUTED CAPITAL,DECEMBER 31 2,282,377 0 2,282,377 1,054,934
FUND EQUITY,DECEMBER 31 $ 6.418.025 $ 1,876.858 $ 8.294.883 $ 6.667.953
r
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ka
as
119
CITY OF RENTON,WASHINGTON
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1) .W
TOTALS
EQUIPMENT
RENTAL INSURANCE 1999 1998
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Other funds for Goods and Services $ 2,646,374 $ 5,371.047 $ 8,017,421 $ 7,380,924
Cash Paid to Suppliers for Goods and Services (607,293) (6,276,476) (6,883,769) (5,366,309)
Cash Paid to Other Funds for Goods and Services (292,243) (179,411) (471,654) (467,601) ..
Cash Paid to Employees (419,105) (92,821) (511,926) (508,941)
Other Operating Receipts 0 14,211 14,211 62,095
Other Non-Operating Receipts 871 344,106 344,977 0
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES 1,328,604 (819,344) 509,260 1,100,168
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Transfers From Other Funds 0 0 0 795,000
NET CASH PROVIDED(USED)BY NONCAPITAL FINANCING ACTIVITIES 0 0 0 795,000
r
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Equipment 71,711 0 71,711 46,606
Acquisition and Construction of Capital Assets (2,219,225) (87,006) (2,306,231) (643,442)
Principal Payments on Bonds 0 0 0 (30,960)
Interest Payments on Bonds (871) 0 (871) (11,399) �-
Residual Equity Transfer In(Out) 0 0 0 (31,555)
NET CASH PROVIDED(USED)BY CAPITAL FINANCING ACTIVITIES (2,148,385) (87,006) (2,235,3911 (670,750)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments 104,627 3,647,029 3,751,656 3,601,631
Payments for Investments (250.000) (2,837,703) (3,087,703) (6,055,113)
Interest on Investments 51,442 129,081 180,523 288,575
NET CASH PROVIDED(USED)BY INVESTING ACTIVITIES (93,931) 938,407 844,476 (2,164,907)
NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS (913,712) 32,057 (881,655) (940,489)
CASH AND CASH EQUIVALENTS,JANUARY 1 1,387,134 1,068,996 2,456,130 3,396,619
CASH AND CASH EQUIVALENTS,DECEMBER 31 $ 473.422 $ 1.101.053 $ 1.574.475 $ 2.456.130
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents $ 473,422 $ 1,101,053 $ 1,574,475 $ 2.456,130
TOTAL CASH AT THE END OF THE YEAR $ 473.422 $ 1.101.053 $ 1.574.475 $ 2.456.130
RECONCILIATION OF OPERATING INCOME(LOSS)TO NET CASH
PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating Income(Loss) $ 542,173 $ (702,412) $ (160,2391 $ (1,026,279)
Adjustments to Reconcile Operating Income(Loss)
to Net Cash Provided(Used)By Operating Activities:
Depreciation 593,741 6,215 599,956 501,432
Other Non-Operating Revenue 871 258,635 259,506 169,823
(Increase)Decrease in Accounts Receivable 14,120 (1,728) 12,392 (12,976)
(Increase)Decrease in Due From Other Funds/Governmental 0 65,471 65,471 (67,761)
(Increase)Decrease in Inventory/Prepaid Items (4,279) 7,006 2,727 (26,627)
Increase(Decrease)in Vouchers Payable 175,349 64,054 239,403 47,758
Increase(Decrease)in Due to Other Funds/Governmental (810) 0 (810) (14,490)
Increase(Decrease)in Payables/Other Short Term Liabilities 3,126 38,116 41,242 (5,286)
Increase(Decrease)in Deferred Revenues 0 0 0 (41,185)
Increase(Decrease)in Accrued Employee Leave Benefits 4,313 1,430 5,743 6,189
Increase(Decrease)in Claims Incurred But Not Reported 0 (556,131) (556,131) 1,569,570
Total Adjustments 786,431 (116,932) 669,499 2,126,447
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES $ 1.328.604 $ j819.3441 $ 509.260 $ 1.100.168
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES $ 0 $ 0 $ 0 $ 0
120
Fiduciary Fund
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CITY OF RENTON,WASHINGTON
FIDUCIARY FUNDS
DECEMBER 31, 1999
Fiduciary Funds are used to account for assets held by the City in a trustee capacity or
as an agent for individuals, private organizations, other governmental units and/or
other funds. These funds are classified as Pension Trust, Expendable Trust and Agency
Funds.
PENSION TRUST FUNDS
Firemen's Pension Fund: Accounts for the payment of administrative costs and benefits
for retired fire fighters (and beneficiaries) who were employed prior to March 1, 1970.
Primary revenue sources are general property tax allocations in accordance with
. actuarial recommendations, fire insurance premium tax and investment interest.
AGENCY FUNDS
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.
Payroll Clearing Fund: Established to account for various payroll liabilities.
Deferred Compensation Fund: Established in 1986 to account for the Deferred
Compensation plan assets and liabilities.
121
CITY OF RENTON,WASHINGTON
FIDUCIARY FUNDS ^»
COMBINING BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 2)
PENSION TRUST AGENCY FUNDS
FIREMEN'S SPECIAL ADVANCE PAYROLL
PENSION DEPOSIT TRAVEL CLEARING
ASSETS: +�
Cash and Cash Equivalents $ 719,987 $ 204,773 $ 0 $ 163
Deferred Compensation Plan Assets 0 0 0 0
Investments at Fair Value 5,455,198 0 0 0
Receivables:
Interest on Investments 718,722 0 0 0
TOTAL ASSETS $ 6.893.907 $ 204.773 $ 0 $ 163
LIABILITIES AND FUND EQUITY:
LIABILITIES: Ir
Vouchers/Contracts Payable $ 0 $ 200 $ 0 $ 0
Accrued Employee Benefits Payable 0 0 0 163
Deposits Payable 0 204,573 0 0 '
Deferred Compensation Payable 0 0 0 0
Interfund Loans/Advances-Non-Current 0 0 0 0
TOTAL LIABILITIES 0 204,773 0 163
FUND EQUITY: '
Fund Balance:
Reserved for Employees'Pension Benefits 6,893,907 0 0 0
TOTAL FUND EQUITY 6,893,907 0 0 0
TOTAL LIABILITIES AND FUND EQUITY $ 6.893.907 $ 204.773 $
122
CITY OF RENTON, WASHINGTON
.+ FIDUCIARY FUNDS
COMBINING BALANCE SHEET
DECEMBER 31,1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31,1998
(PAGE 2 OF 2)
AGENCY FUNDS COMPARATIVE TOTALS
DEFERRED
COMPENSATION 1999 1998
$ 0 $ 924,923 $ 916,582
20,437,037 20,437,037 15,216,256
0 5,455,198 6,291,015
0 718,722 63,817
$ 20.437.037 $ 27,535.880 $ 22.487.670
�. $ 0 $ 200 $ 0
0 163 0
0 204,573 273,235
20,437.037 20,437,037 15,216,256
0 0 4,000
20,437,037 20,641,973 15,493,491
.. 0 6,893,907 6,994,179
0 6,893,907 6,994,179
$ 20.437.037 $ 27.535.880 $ 22.487.670
m 123
CITY OF RENTON, WASHINGTON
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES .r.
ALL AGENCY FUNDS
YEAR ENDED DECEMBER 31, 1999
(PAGE 1 OF 1)
BALANCE BALANCE
1/1/99 ADDITIONS DEDUCTIONS 12/31/99
SPECIAL DEPOSIT FUND
ASSETS
Cash and Cash Equivalents $ 273,235 $ 166,489 $ 234,951 $ 204,773 .r
TOTAL ASSETS $ 273.235 $ 166.489 $ 234.951 $ 204.773
LIABILITIES
Vouchers Payable $ 0 $ 236,151 $ 235,951 $ 200
Deposits Payable 273,235 166,489 235,151 204,573
TOTAL LIABILITIES $ 273.235 $ 402.640 $ 471.102 $ 204.773
ADVANCE TRAVEL FUND
ASSETS _.
Cash and Cash Equivalents $ 4,000 $ 0 $ 4,000 $ 0
TOTAL ASSETS $ 4.000 $ 0 $ 4.000 $ 0
LIABILITIES
Advances From Other Funds $ 4,000 $ 0 $ 4.000 $ 0
TOTAL LIABILITIES $ 4.000 $ 0 $ 4,000 $ 0
PAYROLL CLEARING FUND
ASSETS
Cash and Cash Equivalents $ 0 $ 163 $ 0 $ 163
TOTAL ASSETS $ 0 $ 163 $ Q. $ 163
LIABILITIES
Accrued Employee Benefits Payable $ 0 $ 163 $ 0 $ 163
TOTAL LIABILITIES $ 0 $ 163 $ 0 $ 163
DEFERRED COMPENSATION FUND
ASSETS
Deferred Compensation Plan Assets $ 15.216,256 $ 5,220,781 $ 0 $ 20,437,037 N'
TOTAL ASSETS $ 15.216.256 $ 5.220.781 $ 0 $ 20.437.037
LIABILITIES
Deferred Compensation Payable $ 15,216,256 $ 5,220,781 $ 0 $ 20,437,037
TOTAL LIABILITIES $ 15.216.256 $ 5.220.781 $ 0 $ 20.437.037
TOTAL-ALL AGENCY FUNDS
ASSETS
Cash and Cash Equivalents $ 277,235 $ 166.652 $ 238,951 $ 204,936
Deferred Compensation Plan Assets 15,216,256 5,220,781 0 20,437,037
TOTAL ASSETS $ 15.493.491 $ 5,387.433 $ 238.951 $ 20.641.973
LIABILITIES
ar
Vouchers Payable $ 0 $ 236,151 $ 235,951 $ 200
Deposits Payable 273,235 166,489 235,151 204,573
Accrued Employee Benefits Payable 0 163 0 163
Deferred Compensation Payable 15,216,256 5,220,781 0 20,437,037
Advances From Other Funds 4,000 0 4,000 0
TOTAL LIABILITIES $ 15.493.491 $ 5.623.584 $ 475.102 $ 20.641.973
r
124 '
CITY OF RENTON, WASHINGTON
rr
FIREMEN'S PENSION TRUST FUND
STATEMENT OF PLAN NET ASSETS
AS OF DECEMBER 31,1999 AND 1998
(PAGE 1 OF 1)
1999 1998
ASSETS:
Cash and Cash Equivalents $ 719,987 $ 639,347
Investments 5,455,198 6,291,015
Receivables:
Interest on Investments 718,722 63,817
TOTAL ASSETS $ 6.893.907 $ 6.994.179
FUND BALANCE:
Reserved for Employees'Pension Benefits $ 601907 $ 6,994,179
TOTAL FUND BALANCE $ 6.893.907 $ 6,994.179
125
CITY OF RENTON,WASHINGTON
FIREMEN'S PENSION TRUST FUND
STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31,1999 AND 1998
(PAGE 1 OF 1)
1999 1998 .r
ADDITIONS:
Others Contributions:
Fire Insurance Premiums $ 75,340 $ 61,775 .a
Investment Income:
Interest Revenue 133,662 1,004,349
TOTAL ADDITIONS 209,002 1,066,124
DEDUCTIONS:
Benefit Payments 302,775 301,557
Administrative and General 6,499 5,942
TOTAL DEDUCTIONS 309,274 307,499 ,
NET INCREASE(DECREASE) (100,272) 758,625
FUND BALANCE RESERVED FOR EMPLOYEES'PENSION BENEFITS:
FUND BALANCE JANUARY 1 6,994,179 6,235,554
FUND BALANCE DECEMBER 31 $ 6.893.907 $ 6.994.179
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General Fixed Assets
Account Group
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CITY OF RENTON,WASHINGTON
am
GENERAL FIXED ASSETS ACCOUNT GROUP
ow DECEMBER 31, 1999
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.
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127
CITY OF RENTON, WASHINGTON
GENERAL FIXED ASSETS ACCOUNT GROUP
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1)
1999 1998
ASSETS:
Investment in Joint Venture $ 1,968,198 $ 1,719,302
Fixed Assets(Net) 114,035,568 86,781,560
Construction In Progress 3,012,120 15,886,283
TOTAL ASSETS $ 1 19.015.886 $ 104.387.145
OTHER CREDITS:
Investments in General Fixed Assets $ 119,015,886 $ 104,387,145
TOTAL OTHER CREDITS $ 1 19.015.886 $ 104.387.145
r
128
CITY OF RENTON, WASHINGTON
Wr
No SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE
DECEMBER 31, 1999
(PAGE 1 OF l)
1w
GENERAL FIXED ASSETS:
Land $ 28,339,148
Buildings 58,251,117
Improvements Other Than Buildings 17,027,761
Machinery and Equipment 10,417,542
Construction Work in Progress 3,012,120
Joint Venture 1,968,198
TOTAL GENERAL FIXED ASSETS $ 119,015,886
INVESTMENT IN GENERAL FIXED ASSETS FROM:
General Obligation Bonds $ 39,102,185
Federal Grants 7,136,391
State Grants 2,433,172
County Grants 5,901,470
General Revenues 62,118,447
Donations 2,324,221
r TOTAL INVESTMENT IN GENERAL FIXED ASSETS $ 119,015,886
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CITY OF RENTON,WASHINGTON
■i
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1999
(PAGE 1 OF 1)
IMPROVEMENTS MACHINERY CONSTRUCTION
OTHER THAN AND JOINT WORK IN
FUNCTION TOTAL LAND BUILDINGS BUILDINGS EQUIPMENT VENTURE PROGRESS
)
General Government $ 43,252,783 $ 1,456,463 $ 36,054,205 $ 229,447 $ 5,512,668 $ 0 $ 0
Security of Persons/Property 10,244,922 261,249 4,813,427 236,055 2,962,493 1,968,198 3,500
Physical Environment 3,796,954 0 2,751,874 741,351 303,729 0 0
Transportation 1,375,346 759,563 118,218 0 497,565 0 0
Economic Environment 1,964,803 472,016 1,305,507 24,970 162,310 0 0
Culture and Recreation 58,381,078 25,389,857 13,207,886 15,795,938 978,777 0 3,008,620
TOTAL GENERAL FIXED ASSETS $ 119,015,886 $ 28,339,148 $ 58,251,117 $ 17,027,761 $ 10,417,542 $ 1,968,198 $ 3,012,120
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR ENDED DECEMBER 31,1999
(PAGE 1 OF 1)
GENERAL GENERAL
FIXED ASSETS FIXED ASSETS
FUNCTION 1/01/99 INCREASES DECREASES 12/31/99
General Government $ 33,605,228 $ 24,706,460 $ 15,058,905 $ 43,252,783
Security of Persons/Property 9,334,152 983,194 72,424 10,244,922
Physical Environment 3,933,736 9,800 146,583 3,796,953
Transportation 1,371,710 14,296 10,659 1,375,347
Economic Environment 2,024,554 24,223 83,974 1,964,803
Culture and Recreation 54,117,765 4,368,041 104,728 58,381,078
TOTAL GENERAL FIXED ASSETS $ 104,387,145 $ 30,106,014 $ 15,477,273 $ 119,015,886
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General long Term
Debt Account Group
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CITY Of RENTON, WASHINGTON
GENERAL LONG-TERM DEBT ACCOUNT GROUP
DECEMBER 31, 1999
The General Long-Term Debt Account group is self-balancing and is used to account
- for unmatured principal on the General Obligation Long-Term Debt of the City of
Renton, including General Obligation Bonds (refunded issues are excluded), installment
contracts, applicable accrued employee leave benefits and special assessments. This
indebtedness is backed by the full faith and credit of the City of Renton.
131
CITY OF RENTON, WASHINGTON
s
GENERAL LONG TERM DEBT ACCOUNT GROUP rr
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1999
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1998
(PAGE 1 OF 1)
1999 1998
ASSETS:
Available in Debt Service&Capital Project Funds $ 2,987,015 $ 2,325,340
Amount To Be Provided Long Term Debt Retirement 28,521,306 27,973,144
TOTAL ASSETS $ 31.508.321 $ 30.298.484
LIABILITIES AND FUND EQUITY: '
LIABILITIES:
General Obligation Bonds Payable $ 26,223,908 $ 25,073,105
Special Assessment Debt With Government Commitment 680,000 1,335,000
Accrued Employee Leave Benefits 4,361,558 3,624,548 '
Installment Purchase Contracts 242,855 265,831
TOTAL LIABILITIES $ 31.508.321 $ 30.298.484
132
Statistical Section
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CITY OF RENTON, WASHINGTON
STATISTICAL SECTION
. DECEMBER 31, 1999
Presentations included in the Statistical Section of the Comprehensive Annual Financial
Report (CAFR) provide detailed data on the physical, economic, social, and political
characteristics of the reporting government. They are intended to provide CAFR users
with a broader and more complete understanding of the government and its financial
. affairs than is possible from the financial statements and supporting schedules included
in the Financial Section. Statistical tables usually cover more than two fiscal years and
often present data from outside the accounting records. Therefore, in contrast to
financial section information, statistical section data are not usually susceptible to
independent audit.
133
CITY OF RENTON,WASHINGTON
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION,
INCLUDING CHANGES IN FUND BALANCES-LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS
(PAGE 1 OF 2)
Ten Year Annual General Governmental Revenue Trends
M 59.9
-�5 4.1
i $60 _ - - - -
1 j51.7
$50 ---- 43.2 - ---- —
� 141.2
42.6
a 37.4
n $40 33.6 --- --- - --
s
0 $30 -- '
f
D $20 — -- '
o
1 $10
1 �
a I 'r $0 --I --- - - �--- -- —
s 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
DESCRIPTION 1990 1991 1992 1993
REVENUES ,
Taxes $24,788,886 $27,169,161 $32,869,130 $31,204,165
Licenses and Permits 853,258 1,156,779 1,258,803 1,145,967
Intergovernmental Revenues 3,083,320 2,948,562 2,892,682 4,297,932 '
Charges for Services 1,290,486 2,099,067 1,610,795 1,437,069
Fines and Forfeits 742,446 803,176 884,692 881,016
Interfund Revenues 0 0 0 0 ,
Miscellaneous 2,808,531 3,232,891 3,684,479 2,249,836
TOTAL REVENUES $33,566,927 $37,409,636 $43,200,581 $ 41,215,985
EXPENDITURES
General Government $ 5,658,870 $ 5,045,540 $ 5,607,839 $ 5,258,009
Security of Persons and Property 11,313,885 12,324,533 13,551,649 15,654,019 '
Physical Environment 790,466 976,822 1,157,1 12 1,163,369
Transportation 3,387,188 2,819,625 3,074,076 2,937,977
Economic Environment 3,097,543 3,176,411 2,893,077 3,155,164
Mental and Physical Health 8,892 10,601 229,013 8,983
Culture and Recreation 3,573,006 4,026,495 4,291,090 4,603,052
Capital Outlay 1,342,056 541,075 4,793,884 549,412 ,
Debt Service 4,303,048 4,270,821 3,947,606 3,554,238
TOTAL EXPENDITURES $33,474,954 $33,191,923 $39,545,346 $36,884,223
Other Increases (Decreases) 213,592 (1,094,487) (357,401) (1,831,265)
Transfer In/Out, Prior Period Correctio 0 0 0 106,593
FUND BALANCE, JANUARY 1 5,758,991 6,064,556 8,726,560 12,024,394
FUND BALANCE, DECEMBER 31 $ 6,064,556 $ 9,187,782 $ 12,024,394 $ 14,631,484
Source: City of Renton Finance Department.
134
CITY OF RENTON, WASHINGTON
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION,
INCLUDING CHANGES IN FUND BALANCES- LAST TEN FISCAL YEARS,
FOR GENERAL,SPECIAL REVENUE, AND DEBT SERVICE FUNDS
' (PAGE 2 OF 2)
Ten Year Annual General Governmental Ending Fund Balance
Trends
' $25 1 ---- -- -
M
i 19.9
$20 8.3
- -- - — - ----- ------- 17.6
--
i _
115.9 16.2
o i 4.6
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S 12.0
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S 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
1994 1995 1996 1997 1998 1999
$30,785,983 $ 33,970,167 $36,226,318 $37,903,857 $40,061,373 $42,807,838
1,310,570 1,236,046 1,569,007 2,145,849 2,086,727 1,745,899
4,998,676 4,343,249 4,044,611 4,164,921 4,184,545 3,600,258
1,543,902 4,818,352 5,344,029 5,546,295 7,699,258 5,488,634
1,107,779 998,553 958,082 733,561 722,054 831,327
0 0 0 0 0 0
2,835,811 3,080,883 3,513,802 3,601,057 5,139,563 2,668,990
$42,582,721 $48,447,250 $51,655,849 $54,095,540 $59,893,520 $57,142,946
$ 5,998,922 $ 7,807,624 $ 8,420,834 $ 8,675,215 $ 9,915,676 $ 9,972,040
17,272,774 17,187,719 18,344,175 19,249,622 20,074,074 21,336,276
'
999,985 1,520,374 1,759,571 1,708,461 1,730,735 1,892,549
3,422,909 4,947,622 4,509,833 4,896,235 4,838,713 5,130,703
3,524,258 3,606,022 3,022,503 3,414,034 4,060,970 3,792,464
10,755 7,843 5,746 7,570 10,962 8,486
4,946,035 5,130,721 5,429,238 5,592,278 5,804,099 6,159,132
547,281 494,585 2,302,888 3,496,515 4,881,689 717,037
4,289,678 3,347,293 3,933,368 3,547,127 3,413,505 4,053,582
$41,012,597 $44,049,803 $47,728,156 $50,587,057 $54,730,423 $53,062,269
(335,802) (2,336,448) (1,129,720) (5,110,847) (7,308,428) (2,428,669)
0 (260,482) (544,504) 0 63,110 (6,315,060)
14,631,484 15,845,156 17,645,773 19,899,242 18,296,878 16,005,236
$ 15,865,806 $ 17,645,673 $ 19,899,242 $ 18,296,878 $ 16,214,657 $ 11,342,184
135
CITY OPRENTON' WASHINGTON
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES' LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(PAGE l OF 2) --
Ten Year Assessed Valuciflon Trends
0 F301
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
DESCRIPTION 1990 1991 1992 1993
ASSESSED VALUE DECEMBER 31:
Real Property Value $1,864,385,958 $2,425,865,552 $2,466,868,427 $2,730,285,285
Personal Property Value 556,894,507 620,506,587 664,964,302 699,080,839
~
TOTAL ASSESSED VALUE 2,421,280,465 3,046,372,139 3,131,832,729 3,429,366,124
CITY AND OVERLAPPING TAX RATES: (a)
City of Renton:General Levy $3.55659 $3.09203 $3.28917 $3.23416
City of Renton:Special Levy 0.54768 0.50609 0.40324 0.41577
City of Renton Total $4.10427 $3.59812 $3.69241 $3.64993
King County 2.05464 1.73030 1.79973 2.14039
Port of Seattle 0.45367 0.32332 0.34421 0.30518
Hospital District #1 0.21743 0.17485 0.17781 0.16238
Renton School District#403 2.43657 2.07349 2.13257 3.89165
State of Washington 4.04611 3.38348 3.54132 3.30069
Emergency Medical Services 0.25000 0.19911 0.25000 0.23942
TOTAL PROPERTY TAX RATES $13.56269 $11.48267 $11.93805 $13.68964
PROPERTY TAX LEVIES AND COLLECTIONS:
Original $9,951,295 $10,959,734 $11,507,994 $12,436,132
Adjusted 9,968,237 10,763,298 11,408,258 12,333,996
Current Collections $9,748,293 $10,455,653 $11,194,251 $11,941,091
Percent of Adjusted Levy 97.79% 97.14% 98.12% 96.81%
Delinquent Collections $222,135 $204,311 $284,769 $194,799
TOTAL COLLECTION OF CURRENT&DELINQUENT $9,970,428 $10,659,964 $11,479,020 $12,135,890
PERCENT OF ADJUSTED LEVY 100.02% 99.04% 100.62% 98.39%
OUTSTANDING DELINQUENT TAXES $341,596 $444,930 $374,168 $572,274
1PERCENT OF DELINQUENT TAXES TO ADJ LEVY 3.43% 4.13% 3.28% 4.64%
~
Source:King County Department of Assessments.
(o) Property tax rates are indollars per$l.O0Ooftaxable property valued ot 100%. |
(U) Restated for error inreporting for lYY3CAFK.
136 ~~
CITY OF RENTON,WASHINGTON
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(PAGE 2 OF 2)
Prooerty Tax Allocation
City of Renton
EMS 29%
2%
King County
13%
State
25% Port of Seattle
2%
Hospital
..
1%
Schools
28%
1994 1995 1996 1997 1998 1999
$2,756,919,925 $2,904,421,288 $2,933,904,882 $2,978,575,856 $3,099,917,868 $3,543,075,457
673,405,117 675,278,785 612,192,280 647,025,908 725,191,466 715,425,293
3,430,325,042 3,579,700,073 3,546,097,162 3,625,601,764 3,825,109,334 4,258,500,750
$3.48681 $3.55454 $3.60000 $3.60000 $3.55000 $3.42726
0.36282 0.36408 0.34413 0.38781 0.34608 0.31981
$3.84963 $3.91862 $3.94413 $3.98781 $3.89608 $3.74707
2.21546 2.25288 2.20943 2.13173 1.85109 1.77385
0.30367 0.29482 0.29211 0.28261 0.26466 0.23898
0.14767 0.15084 0.15698 0.15959 0.15934 0.15354
3.60091 3.52218 3.71940 3.53615 3.49222 3.78290
3.39960 3.41873 3.49966 3.52499 3.51138 3.35872
0.24972 0.24990 0.24987 0.25000 n/a 0.29000
$13.76666 $13.80797 $14.07158 $13.87288 $13.17477 $13.34506
�. $13,121,967 $13,971,424 $13,898,818 $14,364,723 $14,822,739 $15,843,325
12,898,033 13,799,832 13,583,469 14,167,346 14,719,382 15,850,628
$12,654,957 $13,327,749 $13,359,611 $13,970,125 $14,511,118 $15,595,427
98.12% 96.58% 98.35% 98.61% 98.59% 98.39%
$404,787 $323,487 $347,054 $315,345 $211,113 $215,939
$13,059,744 $13,651,236 $13,706,665 $14,285,470 $14,722,231 $15,811,366
101.25% 98.92% 100.91% 100.83% 100,02% 99.75%
$410,563 $559,159 $435,963 $317,841 $314,989 $354,250
3.18% 4.05% 3.21% 2.24% 2.14% 2.23%
�. 137
CITY OF RENTON,WASHINGTON
TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA -LAST TEN FISCAL YEARS
PAGE 1 OF 1)
M
Ton Year Renton Per Capita Net Bonded Debt Trends
$700 - - '
$630
$588 $583
$514
$499 $494 $482
$500 $450
$398 '
$400 $353
$300 '
$200
$100
$0 ---)-
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
DEBT SERVICE NET RATIO OF NET NET BONDED '
FISCAL ASSESSED GROSS FUNDS BONDED BONDED DEBT TO DEBT
YEAR POPULATION VALUE BONDED DEBT AVAILABLE DEBT ASSESSED VALUE PER CAPITA
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
1994 43,970 $ 3,430,325,042 $ 21,160,297 $ 1,373,226 $ 19,787,071 0.58% $ 450
1995 44,890 $ 3,579,700,073 $ 19,065,569 $ 1,220,234 $ 17,845,335 0.50% $ 398 '
1996 45,170 $ 3,546,097,162 $ 17,382,945 $ 1,426,722 $ 15,956,223 0.45% $ 353
1997 45,920 $ 3,625,601,764 $ 30,121,269 $ 1,184,279 $ 28,936,990 0.80% $ 630 ,
1998 46,270 $ 3,825,109,334 $ 28,486,738 $ 1,527,931 $ 26,958,807 0.70% $ 583
1999 47,620 $ 4,258,500,750 $ 26,466,763 $ 2,004,373 $ 24,462,390 0.57% $ 514
Source: State of Washington Office of Program Planning and Fiscal Management, '
King County Department of Assessments, and City of Renton Finance Department.
138
— CITY OF RENTON, WASHINGTON
TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
' LAST TEN FISCAL YEARS
(PAGE 1 OF 1)
Special Assessment Billlnas and Collections
' 240.0%-
210.0% - .
40.0%210.0% 19 .
188.0% 188.2%
184.9%
rn 1174.0%
180.0%-- ---- —
m
° 140.1%
150.0% 138.1% -- _--
c
a�
U
a�
113.9%
°- 120.0%
93.9%
0
90.0%
o
U
N
0 60.0%
U
30.0%-
0.0% — -
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
.. ASSESSMENTS COLLECTION ASSESSMENTS
FISCAL RECEIVABLE ADDITIONAL ASSESSMENT COLLECTION ---------- ASA% RECEIVABLE
YEAR 1/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 12/31
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% $ 4,017,073
1993 $ 3,876,542 $ 1,654,063 $ 737,439 $ 592,131 $ 441,136 $ 1,033,267 140.12%$ 4,938,474
1994 $ 5,110,162 $ 326,364 $ 889,261 $ 685,629 $ 327,520 $ 1,013,149 113.93% $ 4,750,897
1995 $ 4,750,897 $ 124,294 $ 588,009 $ 908,724 $ 342,194 $ 1,250,918 212.74% $ 3,966,467
1996 $ 4,212,282 $ 0 $ 820,459 $ 1,002,924 $ 607,356 $ 1,610,280 196.27% $ 3,209,358
1997 $ 3,209,358 $ 0 $ 471,759 $ 605,594 $ 215,457 $ 821,051 174.04% $ 2,603,764
1998 $ 2,603,764 $ 441 $ 392,626 $ 568,553 $ 170,563 $ 739,116 188.25% $ 2,035,652
1999 $ 2,035,652 $ 76,880 $ 471,303 $ 728,921 $ 142,528 $ 871,448 184.90% $ 1,383,611
Source: City of Renton Finance Department.
'" 139
CITY OF RENTON,WASHINGTON
TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES
AS OF DECEMBER 31, 1999, AND ALL DEBT CAPACITIES- LAST TEN FISCAL YEARS
(PAGE 1 OF 1)
Ten Year Debt Covocity Trends
$60 --- --- - - _ Excess Levy -
$54.8 $54.4 (Voted) '
$49.3
$47.6 ,
M $45.1
$42.8 $43.3
$41.9
I
0
n _ $32.0 $38.7 $39.0 ,
s $31 $3 6 j$31.6
0
f $31.5
D '
0
$20 -- ---
I
a $13.6 $13.8 Councilmanic
$115 (Non-Voted)
r
s $10
$0 -� --
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
GENERAL CAPACITY SPECIAL PURPOSE CAPACITY
PARKS AND UTILITY TOTAL
DESCRIPTION COUNCILMANI EXCESS LEVY OPEN SPACE PURPOSES CAPACITY
ASSESSED VALUE(2000): $4,258,500.750 '
2.50%of Assessed Value $ N/A $ 106,462,519 $ 106,462,519 $ 106,462,519 $ 319,387,556
1.50%of Assessed Value 63,877,511 (63,877,511) N/A N/A 0 '
STATUTORY DEBT LIMIT $ 63,877,511 $ 42,585,008 $ 106,462,519 $ 106,462,519 $ 319,387,556
General Obligation Bonds $ 21,203,908 $ 4,020,000 $ 1,000,000 $ 0 $ 26,223,908
Installment Contracts(a) 242,855 0 0 0 242,855 '
TOTAL DEBT OUTSTANDING $ 21,446,763 $ 4,020,000 $ 1,000,000 $ 0 $ 26,466,763
Less Amount Available in Debt Service Funds $ 900,800 $ 500,733 $ 602,840 $ 0 $ 2,004,373 '
NET DEBT OUTSTANDING $ 20,545,963 $ 3,519,267 $ 397,160 $ 0 $ 24,462,390
REMAINING DEBT CAPACITY $ 43,331,548 $ 39.065,740 $ 106,065,359 $ 106,462,519 $ 294,925,166 '
Source:King County Department of Assessments.
City of Renton Finance Department.
(a)Statutory limit=.75%of I%of assessed value.
140
CITY OF RENTON, WASHINGTON
TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT- DECEMBER 31, 1999
(PAGE 1 OF 1)
' City of Renton Direct and Overiavpina Debt
$160
$140 -- - --- —---
Hospital-$.5
M
$120 -- --
I
i
o
$100
n •••••••::::::::::::::::::::::::::::::::::::::::::::::::::
S ?S 9Schools-$93.2
O $80ji
If
.... .....................
D $60
o
E Port-$3.61: .
i`i"lici;E E
.;.,.,
I
a
r County-$15.2
8 $20 --- :
,Renton-$26.51'
$0 --- - . ....•.•.
PERCENTAGE AMOUNT
NET DEBT APPLICABLE APPLICABLE
JURISDICTION OUTSTANDING TO RENTON TO RENTON
NET DIRECT DEBT:
City of Renton $26,466,763 100.00% $26,466,763
OVERLAPPING DEBT:
King County $558,147,765 2.73% $15,237,434
Port of Seattle $132,519,930 2.73% $3,617,794
Renton School District#403 $171,713,008 54.25% $93,154,307
Hospital District#1 $1,976,208 23.46% $463,618
Sub-Total $864,356,911 13.01% $112,473,153
TOTAL DIRECT AND OVERLAPPING DEBT $890,823,674 15.60% $138,939,916
Source: King County Department of Finance and King County Department of Assessments.
141
CITY OF8ENTON.WASHINGTON
=
TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS
TOTOTAL GENERAL GOVERNMENT EXPENDITURES LAST TEN FISCAL YEARS
�
(PAGEl OF 1)
Ten Year Debt Service to Uvenditure Raflo Trend
12.00% -
m�
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
TOTAL GENERAL RATIO OF DEBT
FISCAL (a) (a) TOTA L GOVERNMENTAL SERVICE TO
YEAR PRINCIPAL INTEREST DEBT SERVICE EXPENDITURES EXPENDITURE
(c) Principal and Interest are based ontotal GOBond debt payments. 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 ofRenton Finance Department |
�� /
142
CITY OF RENTON, WASHINGTON
TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND GOLF SYSTEM BONDS
LAST TEN FISCAL YEARS
(PAGE 1 OF 1)
]Nater/Sewer Revenue Bond Debt Service Coverage
3.00 - - --- 2.80
C 2.63 2.63 2.61
2.55
2.43
0 2.50 2.32 __:_ 2.36 2.25
2.07
r
r 2.00 --
a
9 1.50 -
e
R 1.00
a
t 0.50
i
a 0.00 ----
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
(a) OPERATING NET REVENUE AVERAGE ANNUAL COVERAGE
FISCAL GROSS EXPENSES AVAILABLE FOR DEBT SERVICE (b) IS TO BE
YEAR REVENUE W/O DEPREC. DEBT SERVICE REQUIREMENTS COVERAGE AT LEAST
WATER AND SEWER REVENUE BONDS:
1990 $ 12,085,799 $ 7,928,415 $ 4,157,384 $ 1,791,718 2.32
1991 $ 13,533,090 $ 8,856,219 $ 4,676,871 $ 2,263,918 2.07
1992 $ 15,581,113 $ 9,767,486 $ 5,813,627 $ 2,214,024 2.63
1993 $ 16,809,047 $ 10,478,147 $ 6,330,900 $ 2,679,581 2.36
1994 $ 18,266,154 $ 11,500,657 $ 6,765,497 $ 3,004,180 2.25
W 1995 $ 20,781,235 $ 13,187,048 $ 7,594,187 $ 3,131,174 2.43
1996 $ 22,842,549 $ 14,750,009 $ 8,092,540 $ 3,173,846 2.55
1997 $ 22,854,798 $ 14,580,175 $ 8,274,623 $ 3,151,984 2.63
1998 $ 23,126,374 $ 14,877,435 $ 8,248,939 $ 3,155,670 2.61
1999 $ 23,861,159 $ 16,407,442 $ 7,453,717 $ 2,658,909 2.80 1.3
GOLF COURSE REVENUE BONDS (c):
1994 $ 1,319,025 $ 561,028 $ 757,997 $ 419,334 1.81 1.25
1995 $ 1,490,505 $ 767,283 $ 723,222 $ 421,127 1.72 1.25
1996 $ 2,078,745 $ 1,076,030 $ 1,002,715 $ 431,521 2.32 1.25
1997 $ 2,724,692 $ 1,270,849 $ 1,453,843 $ 455,626 3.19 1.25
1998 $ 2,432,929 $ 1,355,669 $ 1,077,260 $ 455,742 2.36 1.25
1999 $ 2,252,217 $ 1,278,489 $ 973,728 $ 439,979 2.21 1.25
(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 Golf System revenue bonds coverage requirement is at
least 1.25 times that of respective calendar year's annual debt service.
(c) Golf System Revenue Bonds were issued July 1, 1994.
Source:City of Renton Finance Department.
�. 143
CITY OF RENTON, WASHINGTON
TABLE 9: CITY OF RENTON RETAIL SALES BY SOURCE
LAST FIVE FISCAL YEARS
W.
(PAGE 1 OF 1)
Changing Sales Tax Composition ,
0 995 vs 1999)
Other
Finance
Transportation/Utilities :10.46%
Manufacturing 4.60%
Wholesale
General Retailing I 11.79%
Construction
i
Services '
C�
Auto Dealers 4.26%
15.00% -10.00% - 00%-� :•:•::•::.;.;.;.,.,.
0.00% 5.00% 10.00% 15.00%
1995 1996 1997 1998 1999
SOURCE AMOUNT % AMOUNT % AMOUNT % AMOUNT % AMOUNT %
Auto Dealers $253,284,313 20.41% $291,362,550 21.39% $326,383,100 22.16% $377,585.700 23.04% $371,149,408 24.66%
Services 241,635,889 19.47% 260,423,165 19.12% 209,241,100 14.21% 181,179,400 11.06% 155,010,916 10.30%
Construction 198,736,301 16.01% 200,286,873 14.70% 220,544,200 14.98% 271,811,200 16.59% 169,985,732 11.30%
General Retailing 260,082,900 20.96% 299,573,106 21.99% 370,568,200 25.16% 406,948,500 24.83% 492,673,912 32.74%
Wholesale 140,998,453 11.36% 168,589,517 12.38% 184,397,100 12.52% 195,404,500 11.92% 186,629,695 12.40%
Manufacturing 77,867,860 6.27% 70,637,260 5.19% 76,016,500 5.16% 91,426,300 5.58% 25,115,537 1.67%
Transportation/Utilities 53,667,875 4.32% 55,563,899 4.08% 63,179,600 4.29% 65,408,900 3.99% 71,933,082 4.78%
Finance 9,364,771 0.75% 9,872,825 0.72% 15,307,300 1.04% 21,844,900 1.33% 22,901,820 1.52%
Other 5,469,554 0.44% 5,892,122 0.43% 7,009,500 0.48% 27,034,200 1.65% 9,363,845 0.62%
TOTALS $1,241,107,916 100.00% $1,362,201,317 100.00%1 $1,472,646,600 100.00% $1,638,643,600 100.oO%l $1,504,763,947 100.00%
Source:City of Renton Finance Department
144
CITY OF RENTON, WASHINGTON
TABLE 10: 10 LARGEST TAXPAYERS BASED ON ASSESSED VALUATION
AND PRINCIPAL EMPLOYERS
(PAGE 1 OF 1)
1999 REAL PROPERTY PERCENT OF
ASSESSED ASSESSED
TAXPAYER TYPE OF BUSINESS VALUATION VALUATION
The Boeing Company Aerospace&Computer Services 761,498,607 17.88%
PACCAR Heavy Manufacturing 99,854,551 2.34%
Puget Sound Power&Light Electric Utility 87,316,949 2.05%
University Street Properties Office Building 45,485,400 1.07%
Renton Building 1-7 Variety 43,782,400 1.03%
US West Telephone Utility 30,407,479 0.71%
Renton Village Assoc. Shopping Center 17,781,100 0.42%
ry Bay Apartment Communities Apartment Building 17,500,000 0.41%
Roundup(Fred Meyer) Retail-Miscellaneous 15,858,400 0.37%
Rosche One Int Office Building 14,152,000 0.33%
Total Assessed Valuation-Largest Taxpayers $ 1,133,636,886 26.61%
Total Assessed Valuation-All Others 3,124,863,864 73.39%
Total Assessed Valuation 4,258,500,750 100.00T."
1999
FULL TIME EQUIV. PERCENT OF
PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES
The Boeing Company Aerospace &Computer Services 19,193 42.267.
PACCAR Heavy Manufacturing 1,459 3.21%
Valley Medical Center Medical Services 1,408 3.10%
- Federal Aviation Administration Federal Government 1,127 2.48%
Renton School District Public Education 720 1.59%
City of Renton City Government 655 1.44%
Multiple Zones International Computer Hard/Software Retail 557 1.23%
Wizards of the Coast Retail-Miscellaneous 390 0.86%
K &L Distributors Retail-Miscellaneous 273 0.60%
Wal Mart Stores,Inc. Retail-Miscellaneous 256 0.56%
Total Number of Employees-Principal Employers 26,038 57.33%
Total Number of Employees-All Other Employers 19,382 42.67%
Total Employees Working Within Renton 45,420 100.0070
Source: Assessed Valuation:King County Department of Assessments.
Assessed Valuation for Largest Taxpayer: King County Department of Assessments,
Both real and personal property assessment where applicable.
Number of Employees: Estimated based upon City of Renton Business License Records and
individual inquiry where applicable.
w 145
CITY OF RENTON,WASHINGTON
I
TABLE 11: CONSTRUCTION PERMITS
LAST TEN FISCAL YEARS
(PAGE 1 OF 2)
New Construction Permit Valuation Trend
M $180
i
$150 ---- - POTHER PERMITS
i
0
In $120 - —- -
s DSINGLE FAMILY
0 $90
f
3MULTI FAMILY
D $60
0
I
— --- - - -- - - ®COMMERCIAL
0 $30 --- -
s $0
1994 1995 1996 1997 1998 1999
NEW CONSTRUCTION ALL NEW '
BUILDING PERMITS OTHER PERMITS CONSTRUCTION
COMMERCIAL MULTI FAMILY SINGLE FAMILY COM/MULTI/SINGLE PERMITS
FISCAL NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR
YEAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUATION
1990 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
1991 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
1992 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
1993 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
1994 26 $ 41,646,451 21 $ 10,755,923 97 $ 13,384,973 531 $ 14,455,415 675 $ 80.242,763
1995 29 $ 43,913,909 16 $ 7,051,996 133 $ 17,464,456 1,100 $ 11,031,008 1,278 $ 79,461,369
1996 26 $ 38,474,779 27 $ 11,207,074 192 $ 27,344,159 1,159 $ 6,684,931 1,404 $ 83,710,943
1997 28 $ 56.368,747 73 $ 40,593,074 249 $ 37,453,977 1,639 $ 14,350,058 1,989 $ 148.765,857
1998 34 $ 25.191,943 78 $ 36,411,387 280 $ 37,017,381 892 $ 10,260,968 1,284 $ 108,881,679
1999 34 $ 32,900,792 1 32 $ 21,972,362 175 $ 25,902,812 601 $ 6,863,519 842 $ 87,639,485
Source: Construction permits and values-City of Renton Building Department. a
Note: For 1990 through 1993,the breakout as seen above is unavailable,but total permits and valuations are shown.
Other permits include plumbing,electrical,mechanical,and sign permits.
Starting September 1997,Combo Building Permits are being issued for new residential construction. This combo permit combines
permits for building,electrical,mechanical,and plumbing.
146
CITY OF RENTON, WASHINGTON
TABLE 11: CONSTRUCTION PERMITS
LAST TEN FISCAL YEARS
(PAGE 2 OF 2)
Ten eor Total Construction Permit Valuation Trend
$270 ——"
M 239.2
$240 — ------ - -
I 210.5
' I $210 --- 194.3
i
0 173.9
n $180 144.6 ---{ --
142.5
t s 133.5 131.9
$150
0 121.3
f $120 -- - 98.4
D $90
0
$60 -
I
r
$30
s
' 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
ADDITIONAL/ALTERATION CONSTRUCTION ALL ALTERATION TOTAL
BUILDING PERMITS OTHER PERMITS CONSTRUCTION ALL
COMMERCIAL MULTI FAMILY SINGLE FAMILY COM/MULTI/SINGLE PERMITS PERMITS
FISCAL NO.OF DOLLAR NO,OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR
YEAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUATION PERMITS VALUATION
1990 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 3,862 $ 144,568,955
1991 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 3,740 $ 173,866,147
1992 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 3,526 $ 210,500,686
1993 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 3,564 $ 98,385.628
y. 1994 380 $42,431,505 14 $ 449,075 96 $ 1,697,251 1,990 $17.729,294 2,480 $62,307,125 3,155 $ 142,549,887
1995 336 $23.760,983 12 $ 203,450 99 $ 1,856,162 1,618 $16,014,437 2,065 $41,835,033 3,343 $ 121,296,402
1996 314 $33,112,674 31 $ 666,046 97 $ 1,679,484 1,652 $14,336,769 2,094 $49,794,973 3,498 $ 133,505,916
1997 356 $64,142,868 11 $ 303,112 96 $ 1,418,804 1,891 $24,615,480 2,354 $90,480,264 4,343 $ 239.246,120
1998 317 $56.323,245 14 $ 3,819,252 101 $ 1,549,018 1,960 $23,704,320 2,392 $85.395,835 3,676 $ 194,277,514
1999 1 277 $25.879,237 1 100 $ 537,329 1 146 $ 1,889,4431 1,761 $15,932,899 2.284 $ 44,238,909 3,126 $ 131,878,394
147
CITY OF RENTON, WASHINGTON
TABLE 12: DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
(PAGE 1 OF 1)
Ten Year Population Trends
60.0 ---- --- '
P
o 'P 47.6
U 50.0 _ 45.9 46.3
1 •0 43.5 44.0 44.9 45.2
43.1
a 39.3
i '
� 40.0
0
n
n 30.0
h ,
h
0 20.0
U
S
n ,
n 10.0 -
d
s
0.0 �
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
FISCAL SCHOOL LABOR NUMBER NUMBER UNEMPLOYMENT
YEAR POPULATION ENROLLMENT FORCE EMPLOYED UNEMPLOYED RATE
1990 39,340 11,823 24,670 23,720 950 3.9%
1991 43,000 11,679 24,470 23,130 1,340 5.5%
1992 43,090 11,954 25,480 23,680 1,800 7.1% '
1993 43,470 11,988 25,590 23,780 1,810 7.1%
1994 43,970 11,984 25,490 23,940 1,550 6.1%
1995 44,890 12,173 26,220 24,720 1,500 5.7% ,
1996 45,170 12,333 26,860 25,410 1,450 5.4%
1997 45,920 12,277 28,190 27,150 1,040 3.7% ,
1998 46,270 12,532 28,990 28,010 980 3.4%
1999 47,620 12,500 29,537 28,513 1,024 3.5%
Source: Population-State of Washington Office of Program Planningand Fiscal Management.
,
9
School Enrollment-Renton School District 403 '
Unemployment Rate-Employment Security Department, Labor Market and Economic Analysis
Branch, Labor Market Information Center.
148 '
CITY OF RENTON, WASHINGTON
TABLE 13: MISCELLANEOUS STATISTICS
DECEMBER 31, 1999
(PAGE 1 OF 1)
WASHINGTON STATE
Spokane•
fln •Seattle
'RENTON
•Tacoma
Olympia
•Vancouver
llr -
rr
DATE OF INCORPORATION September 6.1901 TRAFFIC SIGNALS
FORM OF GOVERNMENT Mayor-Council Number of Signalized Intersections 102
TYPE OF GOVERNMENT Non-Charter,Code City
LOCATION 1 1 Miles South of Seattle STREETS
LAND AREA 16.90 Square Miles Miles of Streets and alleys 180.62
RANK IN SIZE-STATE OF WASHINGTON 14
RANK IN SIZE-KING COUNTY 6 UTILITY SERVICES
POPULATION(Official April,1999) 47,620 Water:
1999 KC CERT OF ASSESSED VALUATION Total Customers 13,922
for the 2000 Tax Roll Year $4,258,500,750 Total Gallons of Water Produced 2,710,655,000
CITY EMPLOYEES(AIL Full Time Equivalents/FTE) 655.1 Number of Fire Hydrants 2,888
Miles of Water Main 268.7
ELECTION&VOTER REGISTRATION
Number of Precincts 70 Sanitary Sewer:
Number of Registered Voters 25,126 Total Customers 11,788
FIRE PROTECTION Storm Drainage:
Fire Rating(Washington Survey and Rating Bure 3 Number of Accounts 12,202
Number of Commissioned Fire Fighting Personn 105 Miles of Storm Sewers 180.9
Number of Stations(includes Dist#25) 5
Total Fire Loss $1,226,250 LICENSE&PERMITS
Number of Life Support Responses 5,585 Business Licenses 3,925
All Other Responses 2,383 Amusement and Special Permits 242
Total Number of Responses 7,968 Animal Licenses(Dog and Cat) 3,389
POLICE PROTECTION AIRPORT
Number of Commissioned Police Personnel 84 Area in acres 167.21
Number of Calls for Services 42,634 Feet of Asphaltic Concrete Runway 5,379
Total Crimes Reported(Class I,ll,III) 8,110 Total Operations 106,458
Traffic Accidents Investigated 1,617
All Other Traffic Violations 11,742 LIBRARY
Libraries(Main and Highlands Branch) 2
PARKS&RECREATION Total Registered Borrowers 30,260
Total Acreage 1,180 Total Circulation 334,619
Number of Parks and Playgrounds 28
r
149
CITY OF RENTON, WASHINGTON
THIS PAGE INTENTIONALLY LEFT BLANK
150