HomeMy WebLinkAbout1990 CAFR The City of Renton, Washington
Comprehensive Annual Financial Report
IFor The Year Ended December 31, 1990
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' 200 Mill Avenue South Renton, Washington 98055 (206) 235-2558
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COVER DESIGN BY DARYN BROWN
Thecover depicts an artist's I
rendering of the fan blade
assembly of'a Boeing
aircraft.
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The City of Renton, Washington
Comprehensive Annual Financial Report
For the Year Ended December 31, 1990
Introductory Sectionr
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Dan Clements
Administrative Services Administrator
City of Renton 1990 CAFR
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31,1990 ,
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TABLE OF CONTENT'S '
ITEM
PAGE
INTRODUCTORY SECTION
City Organization Structure&Reporting Relations......................................................................................... "'
Letterof Transmittal.............................................................................................................................................................................................................................iv
FINANCIAL SECTION ,
AUDITOR'S REPORT.........................................................................................................................................................................................................................2
COMBINED FINANCIAL STATEMENTS-OVERVIEW(General Purpose Financial Statements) ,
Combined Balance Sheet-All Fund Types and Account Groups..............................................................................................................................................4
Combined Statement of Revenues,Expenditures,and Changes in Fund Balances All Governmental Fund Types..........................................................6
Combined Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual.............................................................
Combined Statement of Revenues,Expenses,and Changes in Fund Equity Proprietary and Similar Trust Funds.........................................................11 '
Combined Statement of Cash Flows Proprietary and Similar Trust Funds.............................................................................................................................12
Notes to Financial Statements
Note1: Significant Accounting Policies...................................................................................................................................................................................18
ReportingEntity........................................................................................................................................................................................................18
Basisof Presentation-Fund Accounting................................................................................................................................................................18 '
Basisof Accounting..................................................................................................................................................................................................19
Budgetsand Budgetary Accounting.......................................................................................................................................................................19
Assets,Liabilities and Fund Equity........................................................................................................................................................................19
Cashand Cash Equivalents................................................................................................................................................................................19 ,
Investments...........................................................................................................................................................................................................19
Inventories............................................................................................................................................................................................................20
PropertyTaxes Receivable.................................................................................................................................................................................20
AssessmentsReceivable.....................................................................................................................................................................................20
FixedAssets and Depreciation..........................................................................................................................................................................20
AccumulatedUnpaid Vacation&Sick Pay.....................................................................................................................................................20
FundEquity-Reserves&Designations..........................................................................................................................................................21 '
Direct Charges/Credits to Enterprise Funds Retained Earnings.................................................................................... 21
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RiskManagement and Risk Retention............................................................................................................................................................21
Note 2: Stewardship,Compliance and Accountability...........................................................................................................................................................21
Note3: Cash&Investments......................................................................................................................................................................................................21
Note4: Deferred Compensation...............................................................................................................................................................................................22 '
Note5: Receivables and Payables.......................................................................................................................................:.....................................................22
Note6: Operating and Residual Equity Transfers.................................................................................................................................................................23
Note7: Fixed Assets....................................................................................................................................................................................................................23
Note8: Prepaid Items.................................................................................................................................................................................................................24 ,
Note9: Joint Ventures................................................................................................................................................................................................................24
Note10: Pension Plan..................................................................................................................................................................................................................25
PERSand LEOFF....................................................................................................................................................................................................25
Firemen's Pension.....................................................................................................................................................................................................26 '
Note11: Construction Commitments........................................................................................................................................................................................27
Note12: Long-Term Debt...........................................................................................................................................................................................................27
Note13: Deferred Charges in Proprietary Funds...................................................................................................................................................................30
Note14: Prior Period Corrections.............................................................................................................................................................................................30 '
Note 15: Reservations and Designations of Fund Equity......................................................................................................................................................31
Note 16: Segment Information for Enterprise Funds.............................................................................................................................................................31
Note17: Litigation........................................................................................................................................................................................................................31 ,
Note18: Risk Management.........................................................................................................................................................................................................31
COMBINING FINANCIAL STATEMENTS AND SCHEDULES OF INDIVIDUAL FUNDS AND ACCOUNT GROUPS:
General Fund:
ComparativeBalance Sheet.........................................................................................................................................................................................................34 '
Statement of Revenues,Expenditures,and Changes in Fund Balance.................................................................................................................................35
Statement of Revenues,Expenditures,and Changes in Fund Balance Budget and Actual...............................................................................................36
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r City of Renton 1990 CAFR
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31,1990
TABLE OF CONTENTS-CONTINUED
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Special Revenue Funds:
CombiningBalance Sheet.............................................................................................................................................................................................................38
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances...........................................................................................................40
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual........................................................................42
Debt Service Funds:
CombiningBalance Sheet.............................................................................................................................................................................................................50
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances...........................................................................................................52
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual........................................................................54
Capital Project Funds:
CombiningBalance Sheet.............................................................................................................................................................................................................62
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances...........................................................................................................64
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual........................................................................66
Enterprise Funds:
CombiningBalance Sheet.............................................................................................................................................................................................................72
Combining Statement of Revenues,Expenses,and Changes in Fund Equity.....................................................................................................................74
tiCombining Statement of Cash Flows..........................................................................................................................................................................................76
Internal Service Funds:
CombiningBalance Sheet.............................................................................................................................................................................................................82
CombiningStatement of Revenues,Expenses,and Changes in Fund Equity ....................................•••V
Exile g Eq ty..............................................................................
CombiningStatement of Cash Flows..........................................................................................................................................................................................84
Fiduciary Funds:
tiltCombining Balance Sheet.............................................................................................................................................................................................................86
Firemen's Pension Trust Fund Comparative Statement of Revenues,Expenses,and Changes in Fund Equity............................................................88
Firemen's Pension Trust Fund Comparative Statement of Cash Flows................................................................................................................................89
Combining Statement of Changes in Assets and Liabilities All Agency Funds...................................................................................................................90
General Fixed Asset Account Group:
ComparativeBalance Sheet.........................................................................................................................................................................................................92
Scheduleof General Fixed Assets by Source............................................................................................................................................................................93
Schedule of General Fixed Assets by Function and Activity..................................................................................................................................................94
Schedule of Changes in General Fixed Assets by Function and Activity..............................................................................................................................94
General Long-Term Debt Account Group:
ComparativeBalance Sheet.........................................................................................................................................................................................................96
STATISTICAL SECTION
Table 1: General Government Revenues&Expenditures-Last Ten Fiscal Years.............................................................................................................98
Table 2: Assessed Value,Property Tax Rates,Levies and Collections-Last Ten Fiscal Years......................................................................................100
Table 3: Ratio of Net General Obligation Debt to Assessed Value&Net Bonded Debt per Capita-Last Ten Fiscal Years..................................102
Table 4: Special Assessment Billings and Collections-Last Ten Fiscal Years...................................................................................................................103
Table 5: Computation of Legal Debt Margin-December 31,1990......................................................................................................................................104
Table 6: Computation of Direct and Overlapping Debt-December 31,1990....................................................................................................................105
Table 7: General Obligation Bonds/Expenditure Ratio-Last Ten Fiscal Years..............................................................................................................106
Table 8: Revenue Bond Coverage-Last Ten Fiscal Years....................................................................................................................................................107
Table9: Retail Sales By Source..................................................................................................................................................................................................108
Table 10: Largest Taxpayers and Principal Employers............................................................................................................................................................109
Table 11: Construction and Bank Deposits-Last Ten Fiscal Years.....................................................................................................................................110
Table 12: Demographic Statistics-Last Ten Fiscal Years......................................................................................................................................................111
rTable 13: Miscellaneous Statistics................................................................................................................................................................................................112
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City of Renton 19%CAFR ,
Corporate Or '
p Organization& Reporting Relationships
RENTON'S MISSION STATEMENT '
RENTON The City of Renton,in partnership with residents,
CITIZENS business,and government,Is dedicated to: '
Providing a healthy atmosphere in which to live&ralse families:
Encourage responsible growth and economic vitality;
Create a positive work environment;
Resulting in a quality community where people choose ,
CounciimemberS: to live,work and play.
Nancy Mathews-President
Bob Edwards Earl Clymer
Toni Nelson Mayor ,
Dick Stredicke
Jesse Tanner
Kathy Keolker-Wheeler '
Theresa Zimmerman
PLAN/BLDG/PUSLIC WORKS EXECUTIVE SERVICES ADMINISTRATIVE SERVICES ,
Lynn Guttmann Dan Clements
Administrator City Attorney =Ex—nistantLarry Warren on Administrator '
Development Transportation Personnel Accounting
Services Manager Systems Manager Munldpal Court &LJcensing
Jim Hanson Mel Wilson Hearing Examiner Judge Ruben Nieto Iwen Wang
Fred Kaufman Roger Lewis
Planning/Tech lJtilities I �
Services Manager �Syst�oms Manager --- Data Processing I Budgeting
Kay Shoudy Anderson Phil JewettI Joan Pringle
Maintenance
F
tems Manager City Clerk
Jack Crumisy Marilyn Petersen
FIRE DEPARTMENT POLICE DEPARTMENT COMMUNITY SERVICES
Lee Wheeler Alan Wallis JohpWebley
ChiefChief AdmDon Persson Garry Anderson Parks&Rec Directorrary Director
Captain Captain Sam Chastainrk Petersen i
Suppression - I '
Operations Support Services Facilities Services H"Sh.Ilt.y
Ray Bflrllleflux Prevention Bureau Bureau Superintendent Glen Gordon Gory Gottl Jim Shepherd Laity Weiss Battalion Chief
Battalion Chief Investigation Crime Prev ,
Patrol/Traffic Adm Sv/Training
Animal Control Staff Sery (Recreation Services
Gambling Enforcmt Jail
LJackMcLau
rg Mgt Training Superintendent
ghlin Larry Eager Bill HutsinplllarChief Captain
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City or Renton 1990 CAFR
""OR?:- CITY OF RENTON
Finance Department
Earl Clymer, Mayor Dan Clements,Director
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Honorable Earl Clymer, Mayor June 18, 1991
Members of the Renton City Council
City of Renton
200 Mill Avenue South
Renton, WA 98055
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Re• Transmittal of 1990 Comprehensive Annual Financial Report
Dear Mayor and Council Members:
This correspondence will transmit a copy of Renton's Comprehensive Annual Financial Report for
the year ended December 31, 1990. This letter will also provide you with a brief overview of the
information contained in the annual report. The letter of transmittal has been organized into the
following five sections: 1.) Introduction; 2.) Economic Conditions and Outlook; 3.) Major Program
Initiatives; 4.) Financial Information; and 5.) Other Information.
Introduction
The introductory section will provide you with information regarding the Comprehensive Annual
Report's structure, various representations pertaining to responsibility for drafting the document,
and what statutory requirements frame the preparation of the report.
' Management The City of Renton Finance Department is responsible for the accuracy,
Representation completeness, and fairness of presentation of the information contained in
this report. The department warrants that, to the best of our knowledge and
ability, the data and disclosures reported are both accurate in all material
aspects, and that they fairly represent Renton's financial position and results
of operations of its various funds and account groups.
This report is prepared in accordance with the requirements of Washington
State Law 43.09.230, and in conformance with generally accepted accounting
principles.
CAFR Contents The report is divided into three sections: 1.) The Introductory Section, which
includes the table of contents, the City of Renton Organization Chart and list
of principal officials, and a letter of transmittal from the Finance Director,
2.) The Financial Section includes an independent auditor's report, and the
combined financial statements and accompanying footnotes, followed by
combining financial statements by fund type and account group. The
combined financial statements, together with the notes to the financial
statements, comprise the general purpose financial statements, which provide
an overview of the financial position and the results of operations for the
City; and 3.) The Statistical Section presents financial, economic, social, and
demographic data about the City generally presented on a multi-year basis.
The statistical section is useful in revealing trends which have, and may
continue to affect the City of Renton.
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City or Renton 1990 CAFR
Reporting Entity This report includes all City funds, account groups, agencies, boards, and ,
commissions that are controlled by, or dependent on the City's executive and
legislative departments. Control by or dependence upon the City was
determined on the basis of budget adoption, taxing authority, outstanding
debt secured by revenues or general obligations of the City, obligation of the
City to finance any deficits that may occur, or receipt of significant
subsidies from the City.
This report does not include the financial position or results of operations for
the Renton Housing Authority, whose Board is appointed by the City
Council, and is located within the City's boundaries, but not under the City's
supervisory responsibility.
Renton is a participant in the Valley Communications Center, which
combines consolidated emergency dispatch services for the Cities of Auburn,
Kent, Renton, and Tukwila. Each City provides a portion of support to the 1W
center, based on dispatchable call services provided to each entity. Valley
Communications Center is reported in the City's financial statements as a
joint venture. ad
Economic Condition and Outlook
The economic condition section of the transmittal letter briefly reviews the status of the local
economy, operation of major industries, and future economic outlook.
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Local Economy The City of Renton is located l l miles south of Seattle at the southern end
of Lake Washington. Renton is the fourth largest city in King County, and
the tenth largest city in the state, with an official 1990 population of 39,340.
Residential growth in the City is generated around single family residential
construction geared to middle and upper-middle income families. New
commercial and industrial development has primarily been centered either in
industrial parks, or as a part of concentrated industrial support for the City's
major commercial and industrial enterprises.
The City has experienced significant growth in the past ten years, as
evidenced by indicators such as population, assessed valuation, building
permit value, and retail sales. The 1990 construction amount showed a 44%,
or $44 million, increase over 1989, while the number of permits increased by
only 1%, or 47:
Growth Indicator 1981 1990 Change % Change
Population............... 32,200 39,340 7,140 22%
Assessed Valuation.......$1,710,240,038 $2,421,280,465 5711,040,427 42% ,
Building Permit Value.... $60,367,777 $144,568,955 $84,201,178 139%
Retail Sales............. $473.501,047 $1,030,472.565 $556,971,518 118%
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Renton's economy is based on a strong manufacturing sector coupled with
diversified industries, trades, and services. The largest employer and '
taxpayer within the City limits is the Boeing Company and its Commercial
Airplane Division, Computer Services Division, and Electronics Division,
which together employ 24,128 people. Boeing has a large manufacturing ,
facility in Renton which fabricates model 707, 727, 737, and 757 jet aircraft.
Other major corporations within the City limits are Pacific Car and Foundry,
and Container Corporation of America. In the service sector, Renton has ,
become a regional service facility with the 303-bed Valley Medical Center
providing a catalyst. The Center employs 1,875 individuals, including over
300 physicians.
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Major Industrial 1990 began with great optimism due to the announcements at the end of
Changes 1989 from the Boeing Company and Pacific Car and Foundry of plans to
construct over $300 million in plant improvements in the next few years.
During 1990 the City was faced with budget cutbacks when Boeing
announced an indefinite deferral in their construction plans. In June,
PACCAR cancelled their manufacturing plant modifications and in late
September, Boeing announced the purchase of Longacres Race Track and its
closure in 1992. A mid-year budget adjustment resulted in deferrals and
reductions totalling $593,000.
Future Economic The City has addressed the budget issues through the 1990 mid-year budget
Outlook adjustment and an additional $848,000 in reductions during 1991 budget
preparation. It is anticipated that new construction will decline during 1991
due to the growth management bill and stabilized employment causing
housing to slow. In June, the legislature passed a State Criminal Justice Bill
l and the voters approved a .1% increase in county sales tax to fund criminal
justice improvements. This will allow for expanded police operations during
!k 1991 including: three police officer positions which were deferred in 1990,
two officers used to implement a bicycle patrol program and related police
equipment.
Ma for Program Initiatives
The program initiatives section will outline major programs which the Council adopted during
1990, and provide narrative regarding what accomplishments occurred on these projects.
tCorporate Goals The City has identified three primary goals for its operations: 1.) Providing
a healthy atmosphere in which to live and raise families; 2.) Encouraging
responsible growth and economic vitality; and 3.) Creating a positive work
environment. The City of Renton, in partnership with residents, business,
and government, is dedicated to maintaining and enhancing these goals, in
order to provide a quality community where people choose to live, work, and
play.
Progress on Goals To continue providing a healthy atmosphere in which to live and raise
families, the following issues were addressed in 1990: 1.) New legislation
and voter approval of a .1% increase in county sales tax to fund criminal
justice improvements; 2.) The police department maintained a successful
crime prevention/community awareness program; 3.) The fire department
received three new positions including two inspectors and one firefighter;
and 4.) The fire department coordinated Federal Emergency Management
Assistance (FEMA) mitigation for flood relief occurring the later part of
1990.
To encourage responsible growth and economic vitality, the following
initiatives were implemented: 1.) A supplemental development fee structure
1 was formulated to recover staff time spent beyond the normal level; 2.) Ten
environmental impact statements were started in 1990, eight are currently in
process, with the Boeing EIS and Valley Medical EIS completed; 3.) The
' curbside recyclable and yardwaste collection program is continuing with
much success; 4.) Senior Housing bond proceeds were used on the initial
stages of construction for approximately 105 senior housing units; 5.) Open
' Space bond proceeds were utilized to hire a coordinator and focus on
appraisals, negotiations and acquisitions of parcels in conjunction with
various grant proposals; and 6.) The acquifer awareness program has helped
iresidents understand the source of their drinking water.
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City of Renton 19%CAFR '
The following programs were accomplished to create a positive work
environment for both the business and municipal employees: 1.) The City '
reorganized the existing structure into five major departments to provide
increased operating efficiencies and service delivery; 2.) Purchased land by
installment contract for future City facility needs; 3.) Remodeled various
departments in City Hall to provide improved public service areas, as well as
space utilization; 4.) Initiated a classification and compensation study,
through an outside firm, with recommendations to the City Council in 1991;
and 5.) Established a task force to recommend changes in the current
healthcare plan.
Capital Project Renton's 1990 Capital Improvement Program involved five basic categories '
Summary and twelve groups of projects. The total allocation was $19.1 million, $6.1
million was expended during 1990, leaving a balance of $13 million. Some
of the projects are multi-year programs waiting for the following year's
allocations. Project completion is often affected by weather conditions, grant
availability and coordination of the various elements. The library
construction is completed with the remaining balance to fund an automation ,
program scheduled for completion in 1993. Impact mitigation projects are
funded by developer fees used to offset impacts created by their projects.
These funds are carried forward until the related project is ready for
construction. Anticipated grants for the airport improvements were not
received in 1990 resulting in a carryover into 1991. The golf course bridge
project was over-expended due to unexpected site problems which caused
additional costs. The table below lists the allocations for each project group, ,
the amount spent during 1990, the remaining balance and the percent
expended during the year.
1990 CAPITAL IMPROVEMENT PROGRAM SUMMARY '
1990 1990 Remaining Percent
Proiect Description Allocation Expenditures Balance Expended
Previously Bonded/Funded ,
1.) Library Improvement.............5 108,888 $ 13,566 S 95,322 12.5%
General Government
2.) Multi-Department Projects....... 615,746 470,709 145,037 76.4%
3.) Transportation Improvement...... 3,884,638 1,543,853 2,340,785 53.2%
4.) Park Improvement Projects....... 681,368 362,364 319,004 39.7% '
Designated
5.) Arterial Street Projects........ 849,713 553,184 296,529 65.1%
6.) Impact Mitigation Projects...... 1,179,393 39,483 1,139,910 3.3%
7.) Street Forward Thrust Projects.. 839 839 0 100.0%
Water/Sewer/Storm Drainage
8.) Combined Multi-Year Projects.... 10,717,500 2,381,028 8,336,472 22.2% j
Other Proiects
9.) Golf Course Bridge.............. 162,202 195,131 (32,929) 120.3%
10.) Airport Improvement Projects.... 351,707 36,660 315,047 10.4% '
11.) Property Acq/Park Mtc Facility.. 292,420 250,673 41,747 85.7%
12.) Equipment Rental Purchases..... 266,300 246,335 19,965 92.5%
Total Capital Improvement Program $19,110,714 $ 6,093,825 $13.016,889 31.9%
Financial Information ,
The financial information section of the transmittal letter will discuss accounting/budgetary
controls, and summarize operating results for Renton's major fund groups.
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City of Renton 1990 CAFR
Accounting and The City utilizes various accounting and administrative internal controls to
Administrative ensure stewardship responsibilities are fulfilled to the highest possible degree.
Internal Controls Accounting control includes the plans, procedures, and systems used to insure
safeguarding of assets and reliability of financial records. These controls
must provide reasonable assurance that transactions are executed in
accordance with management authorization, recorded in conformity with
generally accepted accounting principals, and that sufficient reporting and
review exists to provide adequate information for comparability and analysis
of data. Administrative control refers to the decision making process utilized
to establish management authorization for financial transactions, and is the
starting point for establishing accounting controls.
Washington State cities and counties must comply with the Budgeting,
Accounting and Reporting System prescribed by the Office of the State
Auditor, as authorized under RCW's 43.09.200 and 43.09.230. State laws also
provide for annual independent audits by the Office of the State Auditor.
Audits routinely include a thorough review of all administrative and
accounting internal controls.
Budgetary control is integrated with the accounting system. Budgeting is
carried out in accordance with State RCW 35A.33. Annual appropriated
budgets are adopted for the General, Special Revenue, Debt Service and
Capital Projects Funds, with appropriations lapsing at year end. Enterprise
and Internal Service Fund budgets are for management control only and are,
therefore, not reported. A budget increase or decrease to a fund must be
authorized by the City Council, while transfers within a fund may be
authorized by the Mayor. All budgets are controlled at the fund levels. An
encumbrance system is maintained to account for all commitments resulting
from approved purchase orders and contracts and serves as an additional
measure of budgetary control. Open encumbrances lapse at year end and are
reappropriated or absorbed in the next year's operating budget.
General General governmental functions relate to the aggregate of services
Governmental customarily provided by local government in Washington State. In the City
Services of Renton, these functions are administered through the General, Parks,
Street, and Library Funds, and include services such as public safety, parks
and recreation, planning and zoning and their enforcement, library, street
maintenance, and associated administrative and support functions. These
services are the City Council's primary focus for decision making and
discretionary change. The City's general governmental resources for General,
Park, Street and Library Funds are summarized below.
s General General Government Revenues 1990 Revenue 1989 Change from 1989
Governmental and Other Sources (0001s) Amount Percent Amount Amount Percent
Property Taxes.................S 7,613 24.7% $ 6,561 $1,052 16.0%
Revenues Sales Taxes.................... 8,704 28.2% 8,474 230 2.7%
Utility Taxes.................. 3,729 12.1% 3,518 211 6.0%
' Other Taxes.................... 1,143 3.7% 941 202 21.5%
Licenses and Permits........... 853 2.8% 691 162 23.4%
Intergovernmental Revenues..... 2,476 8.0% 1,962 514 26.2%
Charges for Services........... 1,291 4.2% 1,278 13 1.0%
Fines and Forfeits............. 743 2.4% 650 93 14.3%
Interest....................... 220 0.7% 315 (95) -30.2%
Miscellaneous Revenue.......... 544 1.8% 471 73 15.5%
Transfers-In/Other Sources..... 846 2.7% 228 618 271.1%
Sub-Total Revenues/Other.......$28,162 91.3% $25,089 53,073 12.2%
Beginning Fund Balance......... 2,696 8.7% 3,337 (641) -19.2%
Total Resources and Balance $30,858 100.0% 528 426 $2,432 8.6%
1990 General Governmental resources and beginning balance totaled $30.8
million, an increase of $2.4 million, or 8.6% more than 1989. All taxes
allocated to these funds increased by 8.7%. Total 1990 general property taxes
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City of Renton 1990 CAFR
generated $9.9 million; $7.6 million financed general governmental functions,
and the balance provided funding for debt service, capital projects and the
Firemen's Pension Fund. Total general property taxes increased by 16%,
which indicates continued new construction being added to the tax rolls,
since increases are limited to 6% of the previous year's levy, plus new '
construction. The decrease in interest income by 30.2% is a result of lower
interest rates during 1990. The average interest rate earned on the City's
portfolio declined by almost 1%, earning an average of 8.29% compared to
9.25% during 1989. The increase of 271.1% in other sources is partially due
s to the new installment contracts executed during 1990 for the purchase of
land for future City facilities and two copier machines. Also, the
contingency fund transferred $262,504 to the General and Parks funds. '
General The City's general governmental expenditures and other uses are summarized
Governmental below: '
Expenditures
General Government Expenses 1990 Expenditures 1989 Change from 1989
and Other Uses (000's) Amount Percent Amount Amount Percent
General Government.............5 5,659 18.3% $ 4,549 $1,110 24.4% '
Security of Persons/Property... 11,314 36.7% 10,415 899 8.6%
Physical Environment........... 790 2.6% 991 (201) 2.0%
Transportation................. 2,777 9.0% 2,827 (50) -1.8%
Economic Environment........... 3,098 10.0% 2,641 457 17.3% j
Mental and Physical Health..... 9 0.0% 8 1 12.5% ,
Culture and Recreation......... 3,566 11.6% 3,247 319 9.8%
Capital Outlay................. 1,327 4.3% 574 753 131.2%
Debt Service................... 80 0.3% 98 (18) -18.4%
Transfers-Out/Other Uses....... 376 1.2% 380 (4) -1.1 '
Sub-Total Expenditures/Other... 28,996 94.0% 25,730 3,266 12.7%
Ending Fund Balance............ 1,862 6.0% 2,696 (834) -30.9%
Total Expenses and Balance.....$30 858 100.0% $28,426 $2,432 8.6%
Expenditures and other uses for general governmental functions totaled $29
million in 1990, an increase of 12.7% or $3.3 million over 1989. All City
employees received a 4.4% cost of living increase on January 1st, except the
commissioned police officers who received a 5% increase. 88% of the City's '
work force is included in these general governmental funds. The increase of
capital outlay by $753,000 is due partially to the new installment contracts as
referenced above. Although these contracts do not result in a cash outlay in I ,
1990, the accounting standards require that they be recorded as capital outlay
and other financing sources in the year the lease is executed. Also, the
Community Development Block Grant (CDBG) capital increased due to the
North Highlands Center renovation and during 1990 capital purchases
increased for the City Hall remodeling project.
General Government Revenues,
General Dollar Percent
Governmental Expenditures, and Balance (000's) 1990 1989 Change Change
Total Revenues.......................$27,316 $24,861 $2,455 9.9%
Fund Balance Total Expenditures.. 28,620 25,350 3,270 12 9%
Excess (Deficiency) of
Revenues over Expenditures........... (1,304) (489) (815) -166.7%
Other Increases (Decreases).......... 470 (152) 622 409.2%
Fund Balance January 1............... 2,696 3,337 (641) -19.2%
Fund Balance December 31.............5 1,862 $ 2,696 $ (834) -30.9%
The table above provides general governmental revenues and expenditures
exclusive of transfers and balances. 1990 revenues grew by $2.5 million or
9.9%, and expenditures were $3.3 million or 12.9% more than the 1989 total.
1990 expenditures exceeded revenues by $1.3 million. The 1990 ending fund
balance decreased by $834,000.
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City of Renton 1990 CAFR
Proprietary The City's proprietary operations include four enterprises and two internal
Operation service funds. The four enterprises are: A Water/Sanitary Sewer/Storm
Drainage Utility, Municipal Airport, Municipal Golf Course and Solid Waste
Utility. Each enterprise reimburses the General Fund for services received,
including data processing, central stores, and printing. The amount charged
is expressed as a percentage of operating expenses, together with operation
summaries of these enterprises as listed below.
Water/Sewer/Storm Airport Solid Waste Golf Course
Item (0001s) 1990 1989 1990 1989 1990 1989 1990 1989
Operating Revenues..... $10,747 $9,204 E 376 $ 372 $5,022 $3,982 S 667 $503
Operating Exp. W/O Depr 7,928 6,737 218 228 4,683 4,094 480 402
Operating Inc. W/O Depr 2,819 2,467 158 144 339 (112) 187 102
General Fund Reimb..... 259 245 4 36 8 9 4 4
Reimbursement as a % of
' Operating Exp........ 3.27% 3.64% 1.83% 15.79% 0.17% 0.22% .83% 1%
Available for Debt Svc. 4,098 3,570 294 196 N/A N/A N/A N/A
Debt Service Coverage.. 2.29 2.06 5.95 3.78 N/A N/A N/A N/A
Retained Earnings. .... $ 6,481 $5,140 $2,679 $2,485 $ 669 $ 272 $1,030 $734
The Water/Sewer/Storm Utility is in its eighth year of a multi-million dollar
construction program. On January 1, 1990 the Council approved an 13.6%
increase in water rates and a 40% increase in sanitary sewer rates to fund
increased operation and maintenance costs, together with a $5.5 million
rehabilitation/construction program. Major capital projects completed in
1990 include: South Talbot Hill reservoir and transmission line; and the
extension and replacement of 15,867 lineal feet of water and 14,967 lineal
feet of sewer transmission mains. The Storm Drainage Utility began
operation June 1, 1987 to provide improved drainage and aquifer control in
the City. The operation incurred a net operating loss of $322,000 in 1990
while accounting for 10% of the combined Utility's 1990 operating revenue.
The Storm Drainage Utility will require a rate increase effective January 1,
1992 in order to fund increased operation and maintenance costs. The
Utility is in the process of preparing a comprehensive storm and surface
water management plan to define future needs.
The Renton Municipal Airport experienced 145,847 take-offs and landings in
1990. Airport leases, the primary resource to the fund, expired in May of
1990, and the City is negotiating with the tenants. Future capital
' improvements include construction of a security fence around the Airport
perimeter; replacement of a non-directional beacon; and drainage system
planning.
The Solid Waste Utility implemented a residential recycling and yardwaste
collection program in August 1989. 1990 was the first full year of operation
for the recycling programs. The programs continue to be very successful.
Average participation was 44% and recyclables and yardwaste collected
averaged 46% of the residential waste stream. A mini-can service was
offered at a discount in conjunction with rate incentives encouraging waste
reduction. As a result, approximately half of the City's customers have
reduced their service levels. New programs will extend recycling to multi-
family and commercial customers. These programs were deferred in 1990
due to turnover in staff resulting in a $202,000 ending fund balance. Solid
Waste rates for 1991 will be increased by 3.2% to accommodate a King
County hazardous materials surcharge. For 1991, King County will subsidize
waste disposal fees with Energy/Resource Recovery Fund Reserves thereby
' deferring a rate increase to the public until January 1, 1992.
' x __J
City of Renton 1990 CAFR
1990 was the sixth full year of operation for the Maplewood Golf Course.
Approximately 69,839 rounds of golf were played in 1990, compared with
69,926 in 1989. A $376,029 transfer from the General Fund represents
annual amortization for parks and other general governmental interest on the
property. Construction in progress includes phase I of a $1.2 million
redevelopment plan to improve the golf course irrigation system. The golf
course received a $40,500 loan from the Insurance Fund in 1990 for
equipment acquisitions. The loan will be repaid over seven years. ,
Internal Services Renton's two Internal Service operations are the Equipment Rental and
Insurance Funds. Equipment Rental accounts for the maintenance and
replacement of over 200 City vehicles and auxiliary equipment by charging
user departments a rental fee. In 1990, ten pieces of equipment were
replaced, and six new additions were added to the fleet. Acquisition costs
totaled $245,790.
Risk Management In 1984, the City adopted a comprehensive self insurance program for its
workmen's compensation, property, and liability exposures. The Insurance '
Fund was established to account for this activity. In the program, the City
retains $100,000 per property and general liability claims, to an annual
aggregate of $350,000. In 1990, $662,000 was allocated for this purpose, and ,
actual claims amounted to $742,722.
The City began self-insuring for healthcare in 1985. A dental plan was
added in 1988. Excess loss insurance is purchased to provide coverage above '
$75,000 per occurrence. In 1990, 499 employees were covered under this
program for a total cost of $1,676,252. The total health care cost averaged
$280 per employee, per month. In 1991, the City requested bids for a new '
healthcare plan administrator. The contract was awarded to Healthcare
Management Administrators, Inc. whose proposal of $83,875 was $30,000 less
than the City's current administrator, Network Management Inc.
In addition, the City placed monies in the Insurance Fund to serve as an
operating reserve to protect against future revenue downturns. The City
policy is to have $2,146,099, or 8% of General Governmental Expenditures
(General, Park, Street, Library, Contingency, and Limited Debt Service
Funds), designated for this purpose. At year-end, the retained earnings were
$1,786,999. ,
I
Debt The following table displays the City's remaining general obligation debt
Administration capacities, outstanding debt, and the ratio to 1991 current assessed value
($3,031,467,775): ,
Type of G.O. Remaining Capacity Percent Net Outstanding Percent
Bond Issue as of 12/31/90 of AV Debt as of 12/31/90 of AV
General Purpose: '
General/Non-Voted.......f 9,953,342 0.32% $12,782,666 0.42%
General/Voted............ 47,560,699 1.57% 5,489,987 0 18%
Total General Purposes.... 57,514,041 1.90% 18,272,653 0.60%
Parks/Open Space.......... 70,961,900 2.34% 4,824,794 0.16%
Utility Purposes........... 75,786,694 2.50% 0 0.00%
Total Debt Capacity.... ..$204.262 636 6.74% $23,097,447 0.76%
During 1990, $1,210,889 of general obligation bonds and installment
contracts and $745,000 of revenue bonds were retired. There were no new
general obligation bond issues, although we did have one new Water/Sewer
revenue bond issue for $4,100,000. The City also committed to four new '
installment contracts. A new telephone lease for $549,574, purchase of land
for future City facility needs in the amount of $240,000, and two new
Xi I
City of Renton 19%CAFR
copiers totaling $51,462. The City's current bond rating is Al from Moody's
Investors Service for both general obligation and revenue bonds.
Cash Management The City operates an aggressive cash management program, investing all
surpluses as determined by anticipated cash flow needs. Investment decisions
are based on established investment policies, analysis of liquidity
requirements, safety assurances and yield. The City's portfolio consists of
federal government obligations, investments in the State Pool, prime banker's
acceptances, and time certificates of deposit with maturities ranging from
one day to twenty seven years.
t Safeguarding assets is of primary concern to the City and its regulating
agencies. In April of 1986 the Governmental Accounting Standards Board
issued Statement #3, requiring detailed disclosure regarding the risk
associated with deposits and investments held by the City. A categorization
procedure was established where Category 1 includes investments that are
either insured, registered or held by the City or its agent in the City of
Renton's name; Category 2 includes uninsured and unregistered investments
held by the counterparty's trust department or agent in the City's name; and
Category 3 includes uninsured and unregistered investments for which the
securities are held by the counterparty's trust department or agent but not in
the City's name. This categorization for the City of Renton is included in
Note 3 of the Notes to the Financial Statements. In order to assure the
highest degree of safety on all City investments, a safekeeping agreement was j
established for all securities purchased after December, 1988. This will
' insure investments meet the Category 1 classification test.
The Washington State Treasurer manages a State Investment Pool for use by
any city, county, town, municipal corporation, or special taxing district
within the state. Municipalities determine the amount and length of
investment based on individual cash flow needs. Interest is earned based on
the pool's actual experience for the month, less an administrative fee. The
' interest rate earned by the pool has become a recognized benchmark for
entities to measure their own portfolio performance. In 1990, the average
interest rate earned by the State Investment Pool was 8.09%, compared to the
8.29% earned by the City. The following table compares 1989 and 1990
investment activity.
Item 1990 1989 Difference
Average Invested Balance.. $23,586,983 $22,684,339 $ 902,644
Average Interest Rate..... 8.29% 9.25% -.96%
Average State Pool Rate... 8.09% 8.80% -.71%
Total Interest Earnings... $ 2,366,937 $ 2,258,037 $ 108,900
' Other Information
The final section of the letter of transmittal will provide information regarding the City's annual
audit, awards, and acknowledgments.
1 Independent Audit State law requires an annual audit of all financial records, internal controls,
and legal compliances by the State Auditor, who is an independently elected
State Official. The State Auditor has broad legal authority to inquire into all
' financial and legal compliance matters, and their audit opinion is considered
to be at least as equal in authority with that made by an independent
Certified Public Accounting firm. The audit was conducted under the
Federal Government's Single Audit Act of 1984 (PL 98-502). The 1989
municipal audit has now been completed, and was conducted in conformance
with generally accepted auditing standards. The financial statements of all
City funds and account groups were included in this audit, and the City has
been given an unqualified opinion for 1990. A copy of the auditor's report
is presented at the beginning of the "Financial Section" of this document.
xii -
City of Renton 1990 CAFR ,
Certificate ate
of
The
Government en
t Fin n
a ceffi r
O ce s
Achievement
Certificate of Association of the United States and
Achievement Canada (GFOA) awarded the Certificate
for Excellence of Achievement for Excellence in '
in Financial Financial Reporting to the City of
Reporting Renton for its Comprehensive Annual
Financial Report for the year ended ,
Presented to
City of Renton, December 31, 1989. The Certificate of
Washington Achievement is the highest form of
Fuer its Cornprehernswe Annual recognition for excellence in state and
Financial Report local government financial reporting. '
for the Fiscal Year Ended
D--mbar 31, 1989
^caesra•n1 A lwwmvw E. r..�w In order to be awarded a Certificate of
K^.
Ve k prame•d by the C--F OH--, '
Arod•tlnn nl tM I P bic an,dployd C1.
..d
to Achievement, a government unit must
gawmrtr.t vdt. gbrtMrunt
ryVntn.wMa•rm�•Mw.Mr tai N.ci•1
t*P°•n(CAMQ `m ho*— publish an easily readable and
—Wards M 9—--.g
efficiently organized Comprehensive
Annual Financial Report, whose contents '
conform to program standards. Such
Comprehensive Annual Financial Reports
F— --°— must satisfy both generally accepted
accounting t principles 1 n
es
and applicable
li 1
g P
cab e
q
legal requirements.
uiremen
ts.
g
A Certificate of Achievement is valid for a period of one year only. The '
City of Renton has received a Certificate of Achievement for the last four
consecutive years (fiscal years ended 1986-1989). We believe our current
report continues to conform to the Certificate of Achievement program
requirements, and we are submitting it to GFOA.
Acknowledgments Preparation of this report could not have been accomplished without the
professional, efficient, and dedicated services of the entire staff of the
Finance Department and the various department heads and employees who
assisted and contributed to its preparation. Further appreciation is extended
to the Mayor and City Council for their encouragement, interest, and support
in conducting the financial operations of the City in a sound and progressive
manner. The efficient assistance of examiners from the office of the State
Auditor is also appreciated. Staff who had a direct role in preparing
Renton's 1990 Comprehensive Annual Financial Report take great pride in
their work, and the entire team who worked on this project are recognized
on the last page of the report.
I will be happy to respond to any questions or comments about the information contained in this
report. Again, sincere thanks for the support shown to the Finance Department.
Sincerely,
CITY OF RENT ,
kDClemen
Administrative Services Administrator
cc: Washington State Auditor
i
i
Xiii
City of Renton 1990 CAFR
1990 Annual Financial Report
Financial Section
1
City oC Renton 1990 CAFR --
1
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1
' • ROBERT V.GRAHAM
STATE AUDITOR '
JACK HEIHRICHER
Offirr of `Mate Auaitur ASSISTANT STATE AUD TOR
LEGISLATIVE BUILDING AS-21 ,
OLYMPIA, WASHINGTON 98504-0421
(206) 753-5277
INDEPENDENT AUDITOR'S REPORT
1
June 5, 1991
Honorable Earl Clymer, Mayor 1
City of Renton
Renton, Washington
1
We have audited the general purpose financial statements of the City of Renton, King County, Wash-
ington, as of and for the year ended December 31, 1990, 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 finan-
cial 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 1
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 recommen-
dations on compliance matters, internal control procedures, and questionable costs or contingencies 1
that would not be material in relation to the general purpose financial statements taken as a whole.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the financial position of the City of Renton, Ring County, Washington, at December 31, 1990, and '
the results of its operations and the cash flows of its proprietary fund types and similar trust
funds, 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 listed in '
the table of contents are presented for purposes of additional analysis, and are not a required part
of the general purpose financial statements of the City of Renton, King County, Washington. The in-
formation has been subjected to the procedures applied in the audit of the general purpose financial
statements and, in our opinion, is fairly stated in all material respects in relation to the general '
purpose financial statements taken as a whole.
The other data included in this report, designated as the statistical section in the table of
contents, has not been audited by us and, accordingly, we express no opinion on such data.
Very truly yours, '
I
L i
ROBERT V. GRAHAM
STATE AUDITOR
1
I
� i
J
2 1
City of Renton 1990 CAFR
1990 Annual Financial Rel2Ort
General Purpose Financial Statements
3
r
City of Renton 1990 CAFR '
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS: DECEMBER 31, 1990 Page 1 of 2
With Comparative Totals for December 31, 1989 '
GOVfRN!(ENTAL FUND TYFES
SPECIAL DEBT CAPITAL
ASSETS: GENERAL REVENUE SERVICE PROJECTS
Cash and Cash Equivalents .............................. $ 1,401,312 S 335,677 $ 268,082 S 189,086 '
Cash With Fiscal Agent ................................ 0 0 54,643 0
Deferred Compensation Plan Assets - Note 4 ............. 0 0 0 0
Investments - Note 3 ................................... 0 2,538,520 1,800,000 8,712,835
Receivables, net of Allowance for Uncollectibles-Note 5: 1,341,222 33,081 7,312,010 128,088 '
Due From Other Funds - Note 5 .......................... 11,942 255,917 8,450 159,842
Interfund Loans/Advances-Current Note 5 .............. 0 0 0 0
Due From Other Governmental Units - Note 5 ............. 119,570 288,966 0 112,738
Inventory of Material and Supplies Note 1 ............ 0 0 0 0 '
Prepaid Items - Note 8 .................... 0 0 0 0
Investment in Joint Venture - Note 9 ................... 360,313 0 0 0
Restricted Assets:
Deposits ............................................. 0 0 0 0 '
Revenue Bond Debt Service ............................ 0 0 0 0
Construction Account ................................. 0 0 0 0
Interfund Loans/Advances Non-Current - Note 5 ........ 4,000 0 0 0
Fixed Assets (Net) - Note 1 & 7 .... 0 0 0 0 '
Construction In Progress Note 7 ...................... 0 0 0 0
Deferred Charges and Other Assets - Note 13 ............ 0 0 0 0
Available in Debt Service & Capital Project Funds....... 0 0 0 0
Amount To Be Provided Long Term Debt Retirement .. 0 0 0 0 '
TQtAL.ASSEIS . ....... ........................ $ 3;238,359,:_::::$3,452,161 S 4,443,185; S 9,302,589::
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers Payable ..................................... $ 432,115 $ 336,959 $ 22,179 $ 98,246
Judgments/Annuities/Contracts Payable ................ 0 6,473 0 56,796
Due To Other Funds - Note 5 .......................... 161,294 264,431 1,717 0
Interfund Loans/Advances-Current Note 5 ............ 0 0 0 0
Due To Other Governmental Units - Note 5 ............. 448,635 0 0 150,360 '
Payables - Note 5 .................................... 1,047 2,385 84,353 0
Deferred Revenues .................................... 869,608 7,343 7,207,292 0
Liabilities Payable from Restricted Assets:
Deposits Payable ................................... 0 0 0 0
General Obligation Bonds Payable-Current-Note 12 ... 0 0 0 0
Revenue Bonds Payable - Current Portion-Note 12 .... 0 0 0 0
Other Short Term Liabilities - Note 12 ............... 0 0 0 0
Deposits Payable ..................................... 58,091 10,756 0 0 '
General Obligation Bonds Payable-Current-Note 12 ..... 0 0 0 0
General Obligation Bonds Payable - Note 12 ........... 0 0 0 0
Unamortized Discounts on G.O. Bond ................... 0 0 0 0
Special Assessment Bonds Payable - Note 12 ........... 0 0 0 0 '
Revenue Bonds Payable - Note 12 ...................... 0 0 0 0
Unamortized Discounts on Revenue Bond ................ 0 0 0 0
Accrued Employee Leave Benefits - Note 1 & 12 ........ 96,674 57,797 0 2,360
Deferred Compensation Payable - Note 4 ............... 0 0 0 0
Interfund Loans/Advances - Non-Current - Note 5....... 0 0 0 0
Claims Incurred But Not Reported - Note 18 ........... 0 0 0 0
Installment Purchase Contracts - Note 12 ............. 0 0 0 0
Arbitrage Rebate Tax Payable - Note 5 ................ 0 0 0 0
TOTAL I.I..III I.: ...... I..................... $ 2,067,464 $ 686,144 $ 7,315,541 $ 307,762
FUND EQUITY:
Fund Balance:
Reserved - Note 1 & 15 ............................. $ 364,313 S 0 $ 2,127,644 $ 233,771
Unreserved - Designated ............................ 92,222 4,372 0 0
Unreserved - Undesignated .......................... 714,360 2,761,645 0 8,761,056
Contributed Capital .................................. 0 0 0 0
Retained Earnings:
Reserved - Note 1 & 15 ............................. 0 0 0 0
Unreserved ......................................... 0 0 0 0
Investments in General Fixed Assets .................. 0 0 0 0
TOTAL FUND EQUITY AND OTHER CREDITS ...................... $ 1,170,895 $2,766,017 _ $ 2,127,644 ,' S 8,994,827:;1
TOTAL LIABILITIES AND FUND EQUITY ........................ S 3,238,359 $3,452,161 S 9,443,185 $ 9,302,584`
THE ACCOMPANYING NOTES ARE
4 -
rf
City of Renton 1990 CAFR
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 1990 1989
S 150,860 S 107,985 S 795,983 S 0 S 0 S 3,248,985 S 7,822,177
651 0 0 0 0 55,294 42,145
0 0 2,069,208 0 0 2,069,208 1,525,625
2,469,196 3,092,789 2,035,380 0 0 20,648,720 13,887,594
2,233,935 46,835 0 0 0 11,095,171 11,903,148
173,709 2,184 0 0 0 612,044 519,981
0 82,657 0 0 0 82,657 169,861
179,943 136,093 0 0 0 837,310 395,421
259,989 57,118 0 0 0 317,107 196,203
3,938 3,000 0 0 0 6,938 15,488
0 0 0 0 0 360,313 303,976
25,774 0 0 0 0 25,774 17,070
2,219,444 0 0 0 0 2,219,444 1,904,430
7,554,548 0 0 0 0 7,554,548 4,223,458
0 138,782 0 0 0 142,782 184,939
80,570,667 1,538,198 0 45,429,851 0 127,538,716 113,975,408
2,996,089 0 0 93,053 0 3,089,142 11,890,915
208,000 0 0 0 0 208,000 224,000
0 0 0 0 2,361,415 2,361,415 2,098,996
0 0 0 0 26,102,355 26,102,355 27,170,954
S 99,046,743 S 5,205,641 S 4,900,571 S45,522,904 S 28,463,770 S 208,575,923__ S 198,471,789
$ 339,024 $ 73,037 S 0 $ 0 $ 0 S 1,301,560 $ 1,243,225
343,772 0 0 0 0 407,041 516,710
175,536 8,666 400 0 0 612,044 519,981
82,657 0 0 0 0 82,657 169,861
903,648 0 0 0 0 1,502,643 462,841
382,710 17,230 0 0 0 487,725 542,959
37,044 0 0 0 0 8,121,287 9,055,645
25,774 0 0 0 0 25,774 17,070
255,360 0 0 0 0 255,360 242,060
835,000 0 0 0 0 835,000 745,000
0 0 0 0 0 0 89,115
0 0 751,637 0 0 820,484 297,790
0 99,155 0 0 0 99,155 113,653
3,753,220 654,568 0 0 18,212,697 22,620,485 23,716,148
(114,420) (11,236) 0 0 0 (125,656) (137,725)
0 0 0 0 7,123,000 7,123,000 8,200,000
19,050,000 0 0 0 0 19,050,000 15,785,000
(468,623) 0 0 0 0 (468,623) (420,509)
149,169 41,206 0 0 1,943,925 2,291,131 2,120,366
0 0 2,069,208 0 0 2,069,208 1,525,625
138,782 0 4,000 0 0 142,782 184,939
0 364,429 0 0 0 364,429 282,988
0 0 0 0 950,377 950,377 223,370
6,387 2,382 0 0 233,771 242,540 162,347
$25,895,040 S 1,249,437 S 2,825,245 $ 0 S 28,463,770 $ 68,810,403 S 65,658,459
S 0 S 0 S 6,984,000 $ 0 $ 0 S 9,709,728 $ 8,571,504
0 0 0 0 0 96,594 523,155
0 0 (4,908,674) 0 0 7,328,387 7,286,682
a 62,292,994 1,034,993 0 0 0 63,327,987 61,092,630
1,428,423 500,000 0 0 0 1,928,423 1,697,564
9,430,286 2,421,211 0 0 0 11,851,497 9,949,296
0 0 0 45,522,904 0 45,522,904 43,692,499
S 73,151,703 S 3,956,204 S 2,075,326 S 45,522,904 $ 0 S 139,765,520 $132,813,330
$99,046,743 $ 5,205,641 S 4,900,571 $45,522,904 $28,463,770 S 208,575,923 S 198,471,789
AN INTEGRAL PART OF THIS STATEMENT
City of Renton 1990 CAFR '
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES Page 1 of 1 '
FOR ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
GOVERNMENTAL FUND TYPES COMPARATIVE TOTALS '
SPECIAL DEBT CAPITAL (MEMORANDUM ONLY)
GENERAL REVENUE SERVICE PROJECTS 1990 1989
REVENUES
Taxes .............................S 14,803,059 $7,567,514 E 2,418,313 S 171,351 24,960,237 $22,227'942
Licenses And Permits ............... 834,018 19,240 0 2,211,314 3,064,572 2,835,026
Intergovernmental Revenues ......... 1,738,328 1,344,992 0 732,403 3,815,723 2,465,147
Charges For Services ............... 969,207 321,279 0 636 1,291,122 1,278,055
Fines And Forfeits ................. 728,935 13,511 0 0 742,446 650,059
Special Assessments ................ 0 0 1,019,930 0 1,019,930 1,089,644 '
Interest ........................... 157,431 195,551 891,649 757,021 2,001,652 2,316,822
Miscellaneous Revenues ............. 190,359 353,611 0 102,010 645,980 609,896
TOTAL REVENUES ......................5 19,421,337 S9,815,698 S 4,329,892 S 3,974,735 37,541,662 $33,472,591
EXPENDITURES '
Current:
General Government ..............S 4,211,029 $1,447,841 $ 0 $ 0 5,658,870 S 4,548,894
Security Of Persons And Property . 11,313,885 0 0 0 11,313,885 10,414,800
Physical Environment ............. 790,466 0 0 0 790,466 990,521
Transportation ................... 0 3,387,188 0 1,735,451 5,122,639 5,861,976
Economic Environment ............. 2,760,983 336,560 0 0 3,097,543 2,641,202
Mental And Physical Health ....... 8,892 0 0 0 8,892 8,485
Culture and Recreation ........... 0 3,573,006 0 0 3,573,006 3,254,427
Capital Outlay ..................... 762,572 579,484 0 2,337,263 3,679,319 3,356,731
Debt Service:
Principal Retirement ............. 43,802 0 1,920,440 0 1,964,242 3,194,193 ,
Interest 8 Fiscal Charges ........ 35,874 0 2,302,932 48,133 2,386,939 2,287,245
TOTAL EXPENDITURES ..................519,927,503 $9,324,079 S 4,223,372 $ 4,120,847 37,595,801 $36,558,474
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ................... $ (506,166) S 491,619 $ 106,520 $ (146,112) (54,139) $(3,085,883) '
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ........ E 51,462 $ 240,000 5 0 $ 549,574 841,036 $12,350,905 '
Operating Transfers In ............. 187,004 146,000 76,146 0 409,150 305,251
Operating Transfers (Out) .......... (376,029) (333,004) 0 (76,146) (785,179) (684,963) 1
Sale Of General Fixed Assets ....... 256 128,714 0 0 128,970 111,432 '
Joint Venture ...................... 56,337 0 0 0 56,337 66,628
Funds Remitted to Bond Trustee ..... 0 0 0 0 0 (4,674,200) !
TOTAL OTHER FINANCING SOURCES (USES) S (80,970) S 181,710 S 76,146 S 473,428 650,314 $ 7,475,053
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES$ (587,136) $ 673,329 $ 182,666 $ 327,316 596,175 $ 4,389,170
FUND BALANCE JANUARY 1 ............... 1,758,031 2,055,982 1,944,978 8,667,511 14,426,502 9,992,524
Residual Equity Transfers In ....... 0 36,706 0 145,999 182,705 91,644 ! ,
Residual Equity Transfers Out ...... 0 0 0 (145,999) (145,999) (46,836)
FUND BALANCE DECE14BER'31 ............S 1,170,895 S2,766,017 S 2,127,644 5 8,994,827 15,059,383 514,426,502
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THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
6
ar City of Renton 1990 CAFR -�
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 1 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
GENERAL FUND
VARIANCE
FAVORABLE
IrY BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes .............................................. E 14,892,618 S 14,803,059 S (89,559)
Licenses And Permits ............................... 786,900 834,018 47,118
Intergovernmental Revenues ......................... 1,813,274 1,738,328 (74,946)
r Charges For Services ............................... 1,067,811 969,207 (98,604)
Fines And Forfeits ................................. 754,298 728,935 (25,363)
Special Assessments ................................ 0 0 0
Interest ........................................... 215,000 157,431 (57,569)
Miscellaneous Revenues .. .. .............. 177,992 190,359 12,367
TOTAL REVENUES ....................................... $ 19,707,893 $ 19,421,337 $ (286,556)
EXPENDITURES
r Current:
General Government ............................... S 4,233,563 S 4,211,029 $ 22,534
Security Of Persons And Property ................. 11,688,193 11,313,885 374,308
Physical Environment ............................. 895,264 790,466 104,798
Transportation ................................... 0 0 0
Economic Environment ............................. 2,939,779 2,760,983 178,796
Mental And Physical Health ....................... 7,873 8,892 (1,019)
Culture and Recreation ........................... 0 0 0
Capital Outlay ..................................... 809,183 762,572 46,611
rr Debt Service:
Principal Retirement ............................. 43,804 43,802 2
Interest & Fiscal Charges 35,874 35,874 0
TOTAL EXPENDITURES ................................... S 20,653,533 $ 19,927,503 $ 726,030
rti EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... S (945,640) S (506,166) $ 439,474
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... S 0 $ 51,462 S 51,462
Operating Transfers In ............................. 187,004 187,004 0
Operating Transfers (Out) .......................... (741,000) (376,029) 364,971
■r Sale Of General Fixed Assets ....................... 369,000 256 (368,744)
Joint Venture ...................................... 0 56,337 56,337
Funds Remitted to Bond Trustee 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. S (184,996) S (80,970) $ 104,026
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S (1,130,636) S (587,136) $ 543,500
FUND BALANCE JANUARY 1 ............................... 1,613,678 1,758,031 144,353
Residual Equity Transfers In (Out) ................ 0 0 0
FUND BALANCE DECEMBER 31 $ 483,042 $ 1,170,895 S 687,853
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THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
err
7
City of Renton 1990 CAFR '
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 2 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL '
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989 ,
SPECIAL REVENUE FUND TYPES
VARIANCE
FAVORABLE '
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes .............................................. S 7,669,887 S 7,567,514 E (102,373) ,
Licenses And Permits ............................... 9,000 19,240 10,240
Intergovernmental Revenues ......................... 1,287,806 1,344,992 57,186
Charges For Services ............................... 329,100 321,279 (7,821)
Fines And Forfeits 11,000 13,511 2,511
Special Assessments ................................ 0 0 0
Interest ........................................... 129,077 195,551 66,474
Miscellaneous Revenues ............................. 283,300 353,611 70,311 '
TOTAL REVENUES ....................................... $ 9,719,170 S 9,815,698 S 96,528
EXPENDITURES
Current:
General Government ............................... S 1,525,250 $ 1,447,841 $ 77,409
Security Of Persons And Property ................. 0 0 0 `
Physical Environment ............................. 0 0 0
Transportation ................................... 5,214,528 3,387,188 1,827,340
Economic Environment ............................. 394,381 336,560 57,821
Mental And Physical Health ....................... 0 0 0
Culture and Recreation ........................... 3,675,429 3,573,006 102,423
Capital Outlay ..................................... 349,002 579,484 (230,482) '
Debt Service:
Principal Retirement ............................. 0 0 0
Interest 8 Fiscal Charges ........................ 0 0 0
TOTAL EXPENDITURES .. $ 11,158,590 $ 9,324,079 $ 1,834,511
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,439,420) $ 491,619 $ 1,931,039
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 240,000 $ 240,000
Operating Transfers In ............................. 146,000 146,000 0
Operating Transfers (Out) .......................... (333,004) (333,004) 0
Sale Of General Fixed Assets ....................... 110,000 128,714 18,714
Joint Venture ...................................... 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. $ (77,004) S 181,710 "''S 258,714
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,516,424) $ 673,329 $ 2,189,753
FUND BALANCE JANUARY 1 ............................... 2,095,827 2,055,982 (39,845)
Residual Equity Transfers In (Out) ................. 0 36,706 36,706 ..
FUND BALANCE DECEMBER 31 ............................. s 579,403 $ 2,766,017 $ 2,186,614
THE ACCOMPANYING NOTES ARE AN r
8 •�
City of Renton 1990 CAFR
Page 3 of 4
DEBT SERVICE FUND TYPES CAPITAL PROJECTS FUND TYPES
VARIANCE VARIANCE
FAVORABLE FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE>
$ 2,448,056 S 2,418,313 $ (29,743) $ 317,000 $ 171,351 $ (145,649)
0 0 0 2,228,000 2,211,314 (16,686)
0 0 0 3,861,366 732,403 (3,128,963)
0 0 0 0 636 636
0 0 0 0 0 0
986,608 1,019,930 33,322 0 0 0
880,192 891,649 11,457 594,419 757,021 162,602
0 0 0 67,010 102,010 35,000
$ 4,314,856 $ 4,329,892 $ 15,036 $ 7,067,795 S 3,974,735 $ (3,093,060)
$ 0 S 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 3,885,477 1,735,451 2,150,026
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 11,623,272 2,337,263 9,286,009
1,986,047 1,920,440 65,607 600,000 0 600,000
2,338,970 2,302,932 36,038 206,019 48,133 157,886
S 4,325,017 $ 4,223,372 $ 101,645 S 16,314,768 $ 4,120,847 $ 12,193,921
$ (10,161) S 106,520 $ 116,681 $ (9,246,973) $ (146,112) S 9,100,861
$ 0 $ 0 $ 0 $ 600,000 $ 549,574 S (50,426)
76,146 76,146 0 0 0 0
0 0 0 (76,146) (76,146) 0
0 0 0 835,000 0 (835,000)
0 0 0 0 0 0
0 0 0 0 0 0
$ 76,146 S 76,146 $ 0 $ 1,358,854 S 473,428 $ (885,426)
S 65,985 S 182,666 S 116,681 S (7,888,119) S 327,316 $ 8,215,435
1,698,668 1,944,978 246,310 8,006,909 8,667,511 660,602
0 0 0 (876) 0 876
$ 1,764,653 $ 2,127,644 $ 362,991 $ 117,914 $ 8,994,827 $ 8,876,913
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INTEGRAL PART OF THIS STATEMENT
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City of Renton 1990 CAFR '
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 4 of 4 '
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual '
Totals for Year Ended December 31, 1989
COMPARATIVE TOTALS
(MEMORANDUM ONLY)
VARIANCE '
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. S 25,327,561 E 24,960,237 E (367,324) $22,227,942
Licenses And Permits ............................... 3,023,900 3,064,572 40,672 2,835,026
Intergovernmental Revenues ......................... 6,962,446 3,815,723 (3,146,723) 2,465,147 '
Charges For Services ............................... 1,396,911 1,291,122 (105,789) 1,278,055
Fines And Forfeits ................................. 765,298 742,446 (22,852) 650,059
Special Assessments ................................ 986,608 1,019,930 33,322 1,089,644
Interest ........................................... 1,818,688 2,001,652 182,964 2,316,822 '
Miscellaneous Revenues 528,302 645,980 117,678 609,896
TOTAL REVENUES>....................................... S 40,809,714 $37,541,662 $(3,268,052) $33,472,591
EXPENDITURES '
Current:
General Government S 5,758,813 S 5,658,870 $ 99,943 $ 4,548,894
Security Of Persons And Property ......... 11,688,193 11,313,885 374,308 10,414,800
Physical Environment 895,264 790,466 104,798 990,521
Transportation ................................... 9,100,005 5,122,639 3,977,366 5,861,976
Economic Environment ............................. 3,334,160 3,097,543 236,617 2,641,202
Mental And Physical Health ....................... 7,873 8,892 (1,019) 8,485
Culture and Recreation ........................... 3,675,429 3,573,006 102,423 3,254,427
Capital Outlay ..................................... 12,781,457 3,679,319 9,102,138 3,356,731
Debt Service:
Principal Retirement ............................. 2,629,851 1,964,242 665,609 3,194,193
Interest & Fiscal Charges ........................ 2,580,863 2,386,939 193,924 2,287,245
'
'TOTAL EXPENDITURES ................................... S 52,451,908 $37,595,801 $14,856,107 S 36,558,474
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $(11,642,194) $ (54,139) S 11,588,055 $(3,085,883)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 600,000 $ 841,036 $ 241,036 $12,350,905
Operating Transfers In ............................. 409,150 409,150 0 305,251 '
Operating Transfers (Out) .......................... (1,150,150) (785,179) 364,971 (684,963)
Sale Of General Fixed Assets ....................... 1,314,000 128,970 (1,185,030) 111,432
Joint Venture ...... 0 56,337 56,337 66,628
Funds Remitted to Bond Trustee ..................... 0 0 0 (4,674,200) ,
TOTAL OTHER FINANCING SOURCES (USES) ................. s 1,173,000 $ 650,314 S (522,686) $ 7,475,053 -
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $(10,469,194) $ 596,175 $11,065,369 S 4,389,170
FUND BALANCE JANUARY 1 ............................... 13,415,082 14,426,502 1,011,420 9,992,524
Residual Equity Transfers In (Out) ................. (876) 36,706 37,582 44,808
FUND BALANCE DECEMBER 31 ............................. S 2,945,012 $15,059,383 $12,114,371 $14,426 502 ,
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
10 '
City of Renton 1990 CAFR
F_
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY Page 1 of 1
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
PROPRIETARY FUND TYPES FIDUCIARY COMPARATIVE TOTALS
INTERNAL FUND TYPE (MEMORANDUM ONLY)
ENTERPRISE SERVICE PENSION TRUST 1990 1989
++� OPERATING REVENUES:
Charges for Services ........................... S 16,734,160 $3,740,535 S 0 E 20,474,695 516,896,936
Fire Insurance Premiums ........................ 0 0 48,865 48,865 49,842
Other OperatingRevenue ........................ 76,973 37,342 0 114,315 97,014
TOTAL OPE RATING REVENUE .......................... S16,811,133 $3,777,877 S 48,865 $20,637,875 517,043,792
OPERATING EXPENSES:
r
Operations and Maintenance ..................... S 11,291,538 S 705,582 S 0 511,997,120 $10,413,952
Benefit Payments ............................... 0 1,844,074 252,197 2,096,271 1,690,415
Professional Services .......................... 0 200,759 0 200,759 172,758
rr Administrative and General ..................... 950,114 221,541 2,521 1,174,176 735,339
Insurance ...................................... 10,018 742,722 0 752,740 631,309
Taxes .......................................... 1,057,845 0 0 1,057,845 974,567
Depreciation ........ ...................... 1,739,758 328,731 0 2,068,489 1,892,446
TOTAL OPERATINGEXPENSES ... ..................... S 15,049,273 $4,043,409 $ 254,718 $19,347,400 $16,510,786
OPERATING INCOME (LOSS) .......................... S 1,761,860 S (265,532) $ (205,853) $ 1,290,475 S 533,006
NON-OPERATING REVENUE (EXPENSE):
WI` Interest Revenue ............................... S 720,145 $ 234,646 S 135,340 S 1,090,131 S 1,223,822
Property Taxes ................................. 0 0 191,000 191,000 175,000
Gain (Loss) on Sale of Assets .................. 0 996 0 996 18,311
Other Non-operating Revenue .................... 213,072 40,616 0 253,688 110,512
ar Interest Expense (1,459,660) (57,283) 0 (1,516,943) (1,435,922)
Arbitrage Expense .............................. (286) (154) 0 (440) (8,329)
Amortization of Debt Discount and Expense ..... (41,397) (2,110) 0 (43,507) (48,226)
NON-OPERATING REVENUE NET OF EXPENSES ............ $ (568,126) $ 216,711 S 326,340 S (25,075) $ 35,168
INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... $ 1,193,734 $ (48,821) S 120,487 $ 1,265,400 $ 568,174
OPERATING TRANSFERS IN .......................... 376,029 0 0 376,029 379,712
NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM ...... S 1,569,763 S (48,821) S 120,487 S 1,641,429 S 947,886
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EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 0 0 0 0 363,465
NET INCOME (LOSS) ................................ S 1,569,763 S (48,821) S 120,487 S 1,641,429 S 584,421
Depreciation Reducing Grant Contributed Capital. 118,765 0 0 118,765 79,953
SIN INCREASE (DECREASE) IN RETAINED EARNINGS ......... $ 1,688,528 $ (48,821) S 120,487 $ 1,760,194 $ 664,374
RETAINED EARNINGS, JANUARY 1 ..................... S 8,630,754 $3,016,106 $1,954,839 S 13,601,699 S 12,982,133
Prior Period Corrections ....................... 539,427 (9,368) 0 530,059 0
IN RETAINED EARNINGS, JANUARY 1, RESTATED ........... S 9,170,181 $3,006,738 $1,954,839 514,131,758 512,982,133
Residual Equity Transfers In (Out) ............. 0 (36,706) 0 (36,706) (44,808)
RETAINED EARNINGS, DECEMBER 31 S 10,858,709 S2,921,211 $2,075,326 S 15,855,246 S13,601,699
INS
CONTRIBUTED CAPITAL, JANUARY 1 ................... S 60,057,637 $1,034,993 S 0 $61,092,630 $58,099,961
Capital Grants ............................... S 504,178 $ 0 $ 0 S 504,178 S 1,015,945
GIN Amortization on Capital Grants ............... (118,765) 0 0 (118,765) (79,953)
Other Contributed Capital .................... 1,849,944 0 0 1,849,944 2,056,677
CONTRIBUTED CAPITAL, DECEMBER 31 S 62,292,994 S 1,034,993 $ 0 5 63,327,987 $61,092,630
FUND EQUITY, DECEMBER 31 ......................... S73,151,703 $3,956,204 $2,075,326 $79,183,233 $74,694,329
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THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
City of Renton 1990 CAFR '
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1990 Page 1 of 4 '
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1989
PROPRIETARY FUND TYPES ,
INTERNAL
ENTERPRISE SERVICE
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers and Users ....................... E 16,366,261 S 3,740,535 ,
Cash Payments to Suppliers ................................... (11,042 604
(3,478,461)
Cash Payments to Employees and Retirees ...................... (2,240,676) (220,071)
Other Operating Receipts ..................................... 76,973 37,342 ,
Prior Period Correction ...................................... 603,474 0
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... $ 3,763,428 S 79,345
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: ,
Proceeds From lnterfund Loans ................................ $ 4,470 $ 0
lnterfund Loans .............................................. 0 (4,470)
Advances From (To) Other Funds ............................... 36,030 (36,030)
Operating Grants Received .................................... 150,789 0
Operating Transfers From Other Funds ......................... 372,000 0 '
Other Non-Operating Receipts ................................. 51,181 37,342
Repayments on Interfund Loans (197,467) 197,467
AET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES ... $ 417,003 S 194,309
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. $ 4,020,511 S 0
Proceeds From Sale of Equipment .............................. 0 26,563
Acquisition and Construction of Capital Assets ............... (2,854,730) (249,193) '
Capital Contributions ........................................ 631,541 0
Capital Grants ............................................... 659,723 0
Principal Payments on Bonds .................................. (987,060) (114,453)
Principal Payments on Installment Purchase Contract .......... 0 0 '
Interest Payments on Bonds ................................... (1,469,820) (57,914)
Residual Equity Transfer-Out ................................. 0 (36,706)
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES ...... S 165 $ (431,703)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net Investment Activity ...................................... S (2,262,206) S (519,467)
Interest on Investments ..................................... 606,677 250,620
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ............... S (1,655,529) S (268,847)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ........... $ 2,525,067 $ (426,896)
CASH AND CASH EQUIVALENTS, JANUARY 1 ........................... 7,425,559 534,881
CASH AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 9,950,626 $ 107,985
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Residual Investments ................................ S 150,860 S 107,985
Cash Restricted for:
Deposits ................................................... 25,774 0
Revenue Bond Debt Service .................................. 2,219,444 0
Construction Account ...................................... 7,554,548 0
TOTAL CASH AT THE END OF THE YEAR .............................. $ 9,950,626 S 107,985
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City of Renton 1990 CAFR
Page 2 of 4
FIDUCIARY COMPARATIVE TOTALS
FUND TYPE (MEMORANDUM ONLY)
PENSION TRUST 1990 1989
$ 54,865 $ 20,161,661 E 16,743,944
(2,581) (14,523,646) (12,058,871)
(252,197) (2,712,944) (2,643,870)
0 114,315 96,928
0 603,474 0
$ (199,913) S 3,642,860 S 2,138,131
$ 0 $ 4,470 $ 169,861
0 (4,470) (169,861)
0 0 0
0 150,789 20,000
0 372,000 376,737
191,000 279,523 227,512
0 0 0
$ 191,000 S 802,312 $ 624,249
S 0 S 4,020,511 S 1,988,514
0 26,563 0
0 (3,103,923) (4,412,663)
0 631,541 547,999
0 659,723 1,134,124
0 (1,101,513) (913,093)
0 0 (9,220)
0 (1,527,734) (1,269,765)
0 (36,706) (44,808)
$ 0 S (431,538) S (2,978,912)
$ (113,388) S (2,895,061) S 1,589,695
136,126 993,423 1,171,509
$ 22,738 $ (1,901,638) S 2,761,204
S 13,825 S 2,111,996 S 2,544,672
26,121 7,986,561 5,441,889
S 39,946 $ 10,098,557 $ 7,986,561
$ 39,946 $ 298,791 $ 1,841,603
0 25,774 17,070
0 2,219,444 1,904,430
0 7,554,548 4,223,458
r $ 39,946 $ 10,098,557 $ 7,986,561
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City of Renton 1990 CAFR '
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1990 Page 3 of 4 '
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1989
PROPRIETARY FUND TYPES '
INTERNAL
ENTERPRISE SERVICE
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH '
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 1,761,860 $ (265,532)
Adjustments to Reconcile Operating Income (Loss) '
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... $ 1,755,758 E 328,731
(Increase) Decrease in Accounts Receivable ................. (357,889) (662)
(Increase) Decrease in Due From Other Funds/Governmental ... 6,974 (1,384) ,
(Increase) Decrease in Inventory/Prepaid Expenses .......... (85,856) (26,498)
Increase (Decrease) in Vouchers Payable/Contracts Payable .. 122,814 49,105
Increase (Decrease) in Due to Other Funds/Governmental ..... (63,481) (154)
Increase (Decrease) in Payables/Other Short Term Liabilities 6,989 (90,306) ,
Increase (Decrease) in Customer Deposits ................... 8,704 0
Increase (Decrease) in Deferred Revenues ................... 14,356 0
Increase (Decrease) in Accrued Employee Leave Benefits ..... (10,275) 4,604
Increase (Decrease) in Claims Incurred But Not Reported .... 0 81,441
Capital Cost Reported as Operating Expense ................. 0 0
Interest Reported as Operating Income ...................... 0 0
Prior Period Correction ................................... 603,474 0
Total Adjustments ..................................... $ 2,001,568 $ 344,877
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... b 3,763,428 E 79,345 ,
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers ....................... $ 1,210,981 $ 0
Asset Trade-In 0 8,108 '
Advance Refunding of Revenue Bonds 0 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES ........ b 1,210,981 $ 8,108
THE ACCOMPANYING NOTES ARE AN '
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City of Renton 1990 CAFR
Page 4 of 4
FIDUCIARY COMPARATIVE TOTALS
FUND TYPE (MEMORANDUM ONLY)
PENSION TRUST 1990 1989
S (205,853) S 1,290,475 S 533,006
$ 0 S 2,084,489 S 1,908,446
6,000 (352,551) (208,027)
154 5,744 (60,841)
0 (112,354) (13,066)
(214) 171,705 (160,313)
0 (63,635) 69,634
0 (83,317) 28,960
0 8,704 (1,060)
0 14,356 61167
0 (5,671) 10,901
0 81,441 22,189
0 0 1,635
0 0 500
0 603,474 0
$ 5,940 S 2,352,385 $ 1,605,125
S (199,913) S 3,642,860 $ 2,138,131
$ 0 S 1,210,981 S 1,578,412
0 8,108 0
0 0 2,092,623
$ 0 S 1,219,089 $ 3,671,035
INTEGRAL PART OF THIS STATEMENT
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as
NOTES TO THE FINANCIAL STATEMENTS
TABLE OF CONTENTS
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES.....................................................................................................................................................18
Table1: Property Tax Levy....................................................................................................................................................................................20
Table2: Fixed Asset Service Life..........................................................................................................................................................................20
Table3: Employee Leave Payable........................................................................................................................................................................21
NOTE 2-STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY...................................................................................................................21
NOTE3- CASH&INVESTMENTS....................................................................................................................................................................................21
Table 4: Classification Of Investments As Of December 31,1990..................................................................................................................21
NOTE 4-DEFERRED COMPENSATION.........................................................................................................................................................................22
NOTE5-RECEIVABLES AND PAYABLES....................................................................................................................................................................22
Table5: Receivables And Payables......................................................................................................................................................................22
Table 6: Interfund Receivables and Payables _ _ ___ _........ . ......... ___. __ _ __ .........._ __.22
Table 7: Interfund Loans/Advances Receivable and Payable..........................................................................................................................22
Table 8: Due From Other Governmental Units.................................................................................................................................................23
NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS............................................................................................................................23
Table9: Residual Equity Transfers......................................................................................................................................................................23
Table10: Operating Transfers..............................................................................................................................................................................23
NOTE7-FIXED ASSETS.......................................................................................................................................................................................................23
Table 11: Changes In General Fixed Assets........................................................................................................................................................23
Table12: Construction Work In Progress...........................................................................................................................................................23
Table 13: Proprietary Property,Plant,&Equipment........................................................................................................................................24
NOTE8-PREPAID ITEMS...................................................................................................................................................................................................24
INNOTE 9-JOINT VENTURES...............................................................................................................................................................................................24
Table 14: Joint Venture Cost Distribution..........................................................................................................................................................24
Table 15: Financing Contributions&Outstanding Debt..................................................................................................................................25
Table 16: Joint Venture Balance Sheet................................................................................................................................................................25
Table17: Joint Venture Equity.............................................................................................................................................................................25
Table 18: Joint Venture Statement of Revenues,Expenses and Changes in Retained Earnings...............................................................25
NOTE10-PENSION PLAN...................................................................................................................................................................................................25
Table 19: PERS and LEOFF Information By Plan............................................................................................................................................26
Table 20: PERS and LEOFF Information By System ......................................................................................................................................26
Table 21: Unfunded Pension Benefit Obligation...............................................................................................................................................26
Table 22: Fire Pension Ten-Year Funding Progress Data...............................................................................................................................27
Table 23: Fire Pension Ten-Year Revenues and Expenses...............................................................................................................................27
NOTE 11-CONSTRUCTION COMMITMENTS..............................................................................................................................................................27
Table24:Construction Commitments..................................................................................................................................................................27
NOTE12-LONG-TERM DEBT...........................................................................................................................................................................................27
Table 25: Long-Term Debt Additions and Retirements Summary.................................................................................................................27
Table 26: Outstanding Debt As Of December 31,1990....................................................................................................................................28
Table27: Pro Rated Debt......................................................................................................................................................................................29
Table28: Debt Limit Capacities...........................................................................................................................................................................29
Table29: Refunded Bonds....................................................................................................................................................................................29
Table 30: Changes to Refunded Bond Payable...................................................................................................................................................30
Table 31: Debt Service Requirement to Maturity..............................................................................................................................................30
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS...............................................................................................................................30
NOTE14-PRIOR PERIOD CORRECTIONS...................................................................................................................................................................30
NOTE 15-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY..............................................................................................................31
Table32: Reservations of Fund Equity................................................................................................................................................................31
Table 33:Unreserved Designated Fund Equity..................................................................................................................................................31
NOTE 16-SEGMENT INFORMATION FOR ENTERPRISE FUNDS.......................................................................................................................31
Table 34: Segment Information for Enterprise Funds......................................................................................................................................31
NOTE17-LITIGATION.........................................................................................................................................................................................................31
NOTE18-RISK MANAGEMENT.......................................................................................................................................................................................31
Table35: Risk Management..................................................................................................................................................................................32
17
City of Renton Notes to The Financial Statements '
CITY OF RENTON NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended December 31,1990 ,
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES Debt Service Funds account for the accumulation of resources for,and
The City of Renton was incorporated on September 6, 1901 and the payment of,general long-term debt principal, interest,and related
operates under the laws of the State of Washington applicable to a Non- costs. ,
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 Capital Projects Funds account for financial resources to be used for the
elected at large to four-year terms. The City provides the full range of acquisition or construction of major capital facilities other than those
municipal services authorized by State law, together with a Municipal financed by Proprietary Funds. ,
Airport,a Water/Sewer Utility,a Solid Waste Utility,and a Municipal
Golf Course. ftfLnetan Fund Types
Proprietary funds are accounted for on a cost of services or "capital
The accounting and reporting policies of the City of Renton, which maintenance" measurement focus. This means that all assets and all ,
conform to generally accepted accounting principles for governments, liabilities(whether current or non-current)associated with their activity
are regulated by the Washington State Auditor's Office, Division of are included on their balance sheets. Their reported fund equity (net
Municipal Corporations. The City's significant accounting policies are total assets)is segregated into contributed capital and retained earnings
described in the following notes. components. Proprietary Fund operating statements present increases '
(revenues and gains) and decreases (expenses and losses) in net total
THE REPORTING ENTITY assets. The proprietary fund measurement focus is upon determination
The City's Comprehensive Annual Financial Report (CAFR) includes of net income,financial position,and reporting of cash flows.
all funds, account groups, agencies and boards controlled by or '
dependent on the City. Control by or dependence on the City was Enterprise Funds account for operations that are self supported
determined on the basis of budget adoption, taxing authority, through user charges. The enterprise is financed and operated like a
outstanding debt service secured by revenues or general obligations of private business enterprise which requires periodic determination of
the City,obligation of the City to finance any deficits that may occur,or revenues earned, expenses incurred, and net income for capital '
receipt of significant subsidies from the City. Based on the criteria of maintenance,public policy,management control,and accountability.
NCGA Statement 3,the Renton Housing Authority has been excluded
because the City neither reviews their budget nor is obligated to finance Internal Service Funds account for the financing of goods or services
any of their deficits. The Mayor does appoint members to the Housing provided by one department or agency to other departments or agencies '
Authority board. of the City or to other governments.
BASIS OF PRESENTATION-FUND ACCOUNTING Fiduciary Fund Types
The accounts of the City are organized on the basis of funds and Fiduciary Funds account for assets held by the City in a trustee capacity '
account groups, each of which is considered a separate accounting or as an agent for individuals,private organizations,other governments,
entity. Each fund is accounted for with a separate set of self-balancing and other funds. These include Expendable Trust, Nonexpendable
accounts that comprise its assets, liabilities,fund equity, revenues and Trust, Pension Trust, and Agency Funds. City of Renton Fiduciary
expenditures or expenses, as appropriate. The City's resources are Funds do not include any Expendable or Nonexpendable Trust Funds. '
allocated to and accounted for in individual funds according to the
purpose for which they are spent and how they are controlled. The Pension Trust Funds are accounted for in essentially the same manner
three broad fund categories,seven generic fund types,and two account as Proprietary Funds. Agency Funds are custodial in nature (assets
groups presented in this report are described below. equal liabilities) and do not involve measurement of results and ,
operations.
Governmental Fund TWes
All governmental funds are accounted for on a spending or"financial Account Groups
flow"measurement focus. This means that generally only current assets Account Groups are used to establish accounting control over the City's '
and current liabilities are included on their balance sheets. Their general fixed assets and general long-term debt. The City uses two
reported fund balance (net current assets) is considered a measure of account groups.
"available spendable resources." Governmental fund operating
statements focus on measuring changes in financial position,rather than The General Fixed Assets Account Group accounts for all fixed assets ,
net income; they present increases (revenues and other financing of the City other than those accounted for in proprietary funds. The
sources) and decreases (expenditures and other financing uses) in net General Long-Term Debt Account Group accounts for all long-term
current assets. debt of the City except those accounted for in the Proprietary Funds.
The General Fund is the general operating fund of the City. It accounts Comparative Data
for all financial resources and transactions except those required to be Comparative total data for the prior year has been presented in the
accoutred for in another fund. accompanying financial statements in order to provide an understanding
of changes in the City's financial position and operations. However,
Special Revenue Funds account for the proceeds of specific revenue comparative data has not been presented by fund type in each of the
sources(other than special assessments,and major capital projects)that statements since their inclusion would make the statements unduly
are legally restricted to expenditures for specified purposes. complex and difficult to read.
18
im City of Renton Notes to The Financial Statements
Total Columns on Combined Statements funds,there are no substantial differences between the budgetary basis
IN Total columns on the combined statements are presented only to and generally accepted accounting principles, except in Parks Fund
facilitate financial analysis. Data in these columns do not present which had a timing difference for the lease purchase of $240,000
financial position,results of operations,or the reporting of cash flows in recorded at the end of the year. Due to the timing of the transaction the
conformity with generally accepted accounting principles. The data is budget was not amended although the purchase was approved by the
Ow also not comparable to a consolidation. Interfund eliminations have not City Council. Budgetary accounts are integrated in fund ledgers for all
been made in the aggregation of these data. budgeted funds, but the financial statements include budgetary
comparisons for annually budgeted governmental funds only. Budgets
BASIS OF ACCOUNTING established for proprietary and trust funds are "management budgets"
Is Basis of accounting refers to when revenues and expenditures or and are not legally required to be reported.
expenses are recognized in the accounts and reported in the financial
statements. Annual appropriated budgets are adopted at the fund level. Subsidiary
revenue and expenditure ledgers are used to compare the budgeted
IN Modified Accrual Basis o Accounting amounts with actual revenues and expenditures. As a management
The modified accrual basis of accounting is followed in all governmental control device, the subsidiary ledgers monitor expenditures for
funds, and agency funds. Under the modified accrual basis of individual functions and activities by object class.
accounting,revenues are recorded when susceptible to accrual,i.e.,both
No measurable and available. Available means collectible within the The City of Renton's budget procedures are mandated by RCW 35A.33.
current period or soon enough thereafter to pay current liabilities. The steps in the budget process are as follows: 1.)Prior to November 1,
Specific major revenue sources subject to accrual are discussed below. the Mayor submits a proposed budget to the City Council. This budget
IW is based on priorities established by the Council and estimates provided
The portion of Property Taxes receivable at year-end that are received by the City departments during the preceding months, and balanced
in January for the prior year's levy are recorded as revenue. The with revenue estimates made by the Mayor. 2.) The City Council
remaining balance is not normally expected to be collected within 30 conducts public hearings on the proposed budget in November and
days after the current period and are, therefore, reported as deferred December. 3.) The Council makes its adjustments to the proposed
revenue. budget and adopts by ordinance a final balanced budget no later than
December 31. 4.) The final operating budget as adopted is published
Grant revenues from cost reimbursement grants,are considered earned and distributed within the first four months of the following year.
and therefore available when the expenditure is incurred,in accordance Copies of the budget are made available to the public.
with NCGA Statement 2.
Transfers or revisions within funds are allowed, but only the City
Revenue sources which are not considered to meet the measurable and Council has the authority to increase or decrease a given fund's annual
available criteria for revenue recognition include licenses and permits, budget. This is accomplished by City ordinance and the budget was
fines and forfeitures,and other miscellaneous revenues since they are amended three times during 1990. Budget amounts presented in the
generally not measurable until received. basic financial statements include the original amounts after all
transfers and adjustments as approved by the City Council.
Under the modified accrual basis,expenditures are recorded when the
fund liability is incurred, except for principal and interest on general Encumbrances
long-term debt which are recorded when due. Purchases of fixed assets An encumbrance system is maintained to account for commitments
out of Governmental Funds are treated as expenditures during the year resulting from approved purchase orders, contracts, and other
incurred and the asset is capitalized in the General Fixed Assets commitments. Encumbrances remaining at year-end lapse and are
Account Group. Long-term liabilities, including vacation pay not reappropriated in the following year.
currently due and payable,are accounted for in the General Long-Term
Debt Account Group,except for long term liabilities accounted for in ASSETS LIABILITIES AND FUND EQUITY
the Proprietary Funds.
Cash&Cash Equivalents
Accrual Basis of Accounting For purposes of the statement of cash flows,all proprietary fund types
The accrual basis of accounting is followed in all Proprietary Funds and and similar trust funds consider all highly liquid investments(including
Pension Trust Funds. Revenues are recognized when earned and restricted assets) with a maturity of three months or less when
expenses are recognized when incurred. purchased to be cash equivalents.
The revenues of the Water/Sewer and Solid Waste Utilities,which are Investments
based upon service rates authorized by the City Council,are determined The City of Renton invests all short-term cash surpluses. A Surplus
by monthly billings to customers. Revenues of the Golf Course are Bank Balance Fund is maintained to account for these residual
based on user fees and Airport revenue is based on lease agreements. investments and earnings are allocated to the various funds based upon
Earned but unbilled revenues at year-end are accrued and reported in the average monthly cash balances. Investments are also held
the financial statements. Fixed asset purchases are capitalized, and separately by several of the funds with interest earned directly for the
long-term liabilities are accounted for in the appropriate funds. benefit of each fund. Investments are reported on the financial
statements at cost or amortized cost which approximates market,except
BUDGETS AND BUDGETARY ACCOUNTING for the assets held in the deferred compensation program which are
as The City of Renton budgets its funds in accordance with the Revised valued at market. Washington State statutes provide for the City to
Code of Washington (RCW) 35A.33. In compliance with the code, hold investments consisting of obligations of the Federal Government,
annual appropriated budgets are adopted for the general, special repurchase agreements, prime banker's acceptances, and time
revenue, debt service and capital projects funds. Any unexpended certificates of deposit issued by Washington State depositories that
ku appropriations lapse at the end of the fiscal year. For governmental participate in the Washington State Public Depository Protection Pool
19
City of Renton Notes to The Financial Statements '
(PDPC). The PDPC is a multiple financial institution collateral pool Estimated and actual property tax revenue is compared in the following '
administered by the Washington Public Deposit Protection table:
Commission. Additional deposit and investment information is
presented in Note 3. '
Table 1: Property Tax Levy
Inventoties Estimated Actual
Inventories carried in Proprietary Funds are valued at average cost Item Pro rt Taxes Property Taxes Variance
which approximates the market value. The inventory in the General Levy $ 8,530,155 $ 8,637,233 $ 107,078 ,
Water/Sewer Fund is charged out at average cost plus a 20% handling Excess Le 1,326,098 1,320,924 5,174
fee when issued, and the inventory in the Equipment Rental Fund is Totals $ 9,856,253 $ 9,958,157 $ 101,904
issued at average cost. A physical count is taken at year-end in both
funds. Governmental Funds use the purchase method whereby Assessments Receivable '
inventory items are considered expenditures when purchased. The Unpaid special assessment receivable is reported in three accounts:
amount outstanding at year-end is immaterial and is, therefore, not current,delinquent,and deferred. Current assessments are those due
included on the balance sheet. within one month; delinquent assessments are past due; and deferred
Ploassessments are due beyond one month. Revenue from the assessments
gMTaresReceivable '
Ris recognized as it becomes current - that is, both measurable and
The County Finance Director acts as an agent to collect property taxes available to finance expenditures of the current period.
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. Fixed Assets and Depreciation '
The accounting and reporting treatment applied to the fixed assets
Assessed values are established by the County Assessor at 100%of fair associated with a fund are determined by its measurement focus. Fixed
market value. A revaluation of all property is required every four years. assets acquired in governmental funds are accounted for as
expenditures in the fund when the asset is purchased and are capitalized '
Property taxes levied by the County Assessor and collected by the in the General Fixed Asset Account Group at historical cost. Where
County Finance Director become a lien on the first day of the levy year historical cost is not known,assets are recorded at estimated historical
and may be paid in two equal installments if the total amount exceeds cost. Donated assets are valued at estimated fair market value at the
$10. The first half of real property taxes is due on April 30 and the time received. Infrastructure such as roads, bridges and curbs are '
balance is due October 31. Delinquent taxes bear interest at the rate of considered public property and are not capitalized in the General Fixed
12%and are subject to additional penalties if not paid as scheduled. Assets Account Group.Governmental Fund assets are not depreciated.
At year end property taxes are recorded as a receivable with the portion Fixed assets of Enterprise and Internal Service Funds are recorded at
not expected to be collected within 30 days offset by a deferred revenue, historical cost,and are accounted for in their respective funds. Capital
During the year, property tax revenues are recognized when cash is contributions are recorded as contributed capital and the assets are
received. capitalized at their estimated fair market value at the date of donation.
The tax rate for general City operations is limited to$3.60 per$1,000 of Fixed assets used by Proprietary Funds are depreciated and the
assessed value. Of this amount, up to $.45 per thousand may be accumulated depreciation is reported in Proprietary Fund Balance
designated for contribution to the Firemen's Pension Fund if a report by Sheets. Annual depreciation is recorded as an expense of the fund.
a qualified actuary indicates that additional funds are required. Depreciation is computed using the straight line method over estimated
service lives as follows:
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 has the effect of Table 2: Fixed Asset Service Life
reducing property taxes available for the general operations of City Asset Estimated Service Life
government. In 1990, the City levied $3.47771 per $1,000 of assessed Buildings 25-50 years
valuation for general purposes and$.07888 for Firemen's Pension Fund, Non-Building Improvements 25-50 years
for a total general tax levy of$3.55659. Utility Plant 25-60 years
Equipment 3-20 years
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 See Note 7 for additional information.
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 Accumulated Unpaid Vacation and Sick Pm^
in any year exceed 1% ($10 per thousand dollars) of the true and fair Labor contracts with City of Renton employees call for the
monetary value of such property. This limitation may be exceeded upon accumulation of vacation and sick leave. At termination of employment,
the approval of 60%of the City voters at an election in which the total employees with the required length of service may receive cash
vote exceeds 40%of the votes cast at the last preceding general election. payments for all accumulated vacation leave to a maximum of 432 hours.
Sick leave termination benefits are based on a percentage of
For 1990,the City's general tax levy was$3.55659 and the excess levy for accumulated sick leave up to a maximum of 480 hours. The payment is
Unlimited General Obligation Bonds issued for the construction of based on current wages at termination.
Gene Coulon Memorial Beach Park and Senior Housing was$.54768;a
total of $4.10427 per $1,000 on a total assessed valuation of Accumulated amounts of vacation leave are accrued as expenses when
$2,421,280,465. incurred in Proprietary Funds. The current portion of the Enterprise
Funds,$23,903,and the Internal Service Funds,$1,304,is included,with
the current liability account Accrued Wages Payable. In Governmental
20
W Ciry of Renton Notes to The Financial Statements
Funds,only the current portion of the yearly accrual(based on last in- Risk Management and Risk Retention
VM first out formula)left unpaid at the end of the fiscal year is recorded as It is the City of Renton's policy to self-insure first level coverages for
fund liability and expenditure. The remainder of the liability is reported property, liability, worker's compensation, and employee medical
in the General Long-term Debt Account Group. This reporting format coverages. For mid-level and catastrophic losses the City both
is in compliance with NCGA Statement 4. At year-end, 1990, the purchases commercial insurance coverage, and reserves the right to
kv Governmental Funds recorded current liabilities of $156,831 on the invoke provisions of RCW 35A.31.060,which allows cities to levy a non-
respective balance sheets and a long-terns liability for the non-current voted property tax increase to pay for uninsured claims.
portion of accumulated vacation in the amount of $880,094 in the
General Long-Term Debt Account Group. The unpaid liability in the Every year the City's external risk management consultant recommends
in Proprietary Funds at December 31 was$89,115. a cash level at which Renton's loss fund should be maintained. For 1990
Gallagher Bassett set this amount at$500,000. As of December 31,1990
Accumulated sick leave is also based on NCGA Statement 4 which calls the Insurance Fund's unreserved retained earnings totaled $1,786,999.
for accrual of Proprietary Fund liabilities and inclusion of See Note 18 for additional information.
to Governmental Fund liabilities in the General Long-Terns Debt Account
Group. These amounts at December 31, 1990, were $101,260 and NOTE 2-STEWARDSHIP.COMPLIANCE,AND ACCOUNTABILITY
$1,063,831 respectively. The following table details the total vacation There have been no material violations of finance related legal or
and sick leave liability: contractual provisions.
EXCESS OF EXPENDITURES OVER APPROPRIATIONS
Table 3: Employee Leave Payable Towards the end of 1990, the Parks Fund acquired land through an
Item I Current Lon.-Term Total installment contract. In accordance with NCGA-5, the City recorded
tt. General Governmental Funds $ 156,831 $ 0 $ 156,831 the lease as a capital outlay and other financing source for the net
General Long Term Debt 0 1,943,925 1,943,925 present value of$240,000. Due to the timing of this transaction,only
Proprietary Funds 25,207 190,375 215,582 the down payment portion was included in the budget,although the City
Total Leave Benefits $ 182,038 $ 2,134,300 $ 2,316,338 Council approved the whole transaction. Therefore, this resulted in
tw expenditures exceeding appropriations in the Parks fund.
Fund Eguio,-Resemes and Designations
The City recognized in its reporting that assets are sometimes not Also,the City's 1989 Unlimited General Obligation Debt Service Fund
"available spendable resources" or at times legally available for had unanticipated debt registration expenses. This resulted in
appropriations,because they are contractually or legally restricted for expenditures exceeding appropriations by$405.
some specific future use. When this is the case,as for example with debt
service, fund equity is "reserved". However, when management sets NOTE 3- CASH K INVESTMENTS
aside portions of fund equity based upon tentative future plans or for The City maintains an investment pool available for use by all funds.
administrative convenience, these restrictions are reported as Interest earned on pooled investments is recorded in the general fund.
"designations" of unreserved fund equity. Designation is not used in Investments are also held separately by several of the funds with
proprietary funds. interest earned directly for the benefit of each fund.
Direct Chnrses/Credits to Enterprise Funds Retained Earnings DEPOSITS
The Airport Fund has credited $118,765 directly to retained earnings, All deposits are entirely covered by federal depository insurance(FDIC
representing the retirement of Federal and State contributed capital for and FSLIC) or by collateral held in a multiple financial institution
the current year. collateral pool administered by the Washington Public Deposit
Protection Commission (PDPC). This is the highest deposit category
defined by GASB Statement 3.
Table 4: Classification Of Investments As Of December 31,1990
Item Category 1 Catepory 2 Carrying Amount I Market Value
US Govt Securities $ 5,413,047 $ 162,420 $ 5,575,467 $ 5,900,190
Bankers'Acceptance 17,469,395 0 17,469,395 17,682,018
Convertible Bonds 0 213,533 213,533 159,756
Corporate Bonds 0 257,863 257,863 243,261
Sub-Total $ 22,882,442 $ 633,816 $ 23,516,258 $ 23,985,225
Mutual Funds 1,276,564 1,422,935
Investment in State Treasurer's Investment Pool 5,836,208 5,836,208
Total Investments $ 30,629,030 $ 31,244,368
on INVESTMENTS All investments are valued at cost or amortized cost, which is
Washington State Statutes provide for the City to hold investments substantially equivalent to market value.
consisting of obligations of the Federal Government, repurchase .
agreements,prime banker's acceptances,and time certificates of deposit The City of Renton's investments are categorized to give an indication
IN with authorized Washington State savings and loan institutions. of the risk assumed at year-end. Category 1 includes investments that
Additionally, the Firemen's Pension Fund is authorized to invest in are either insured,registered or held by the City or it's agent in the City
mutual funds and obligations of the federal,state,and local government of Renton's name. Category 2 includes uninsured and unregistered
owned public utilities. investments which are held by the counterparty's trust department or
1r agent in the City's name. Category 3 includes uninsured and
21
Ir
City of Renton Notes to The Financial Statements ,
unregistered investments which are held by the counterparty's trust creditors until paid to the employee or other beneficiary and are not ,
department or agent in the agent's name. At the end of the year,the restricted to the benefit provisions under the plan. Deferred
City had no investment in category 3. compensation plan investments are recorded at market value,along with
the corresponding liability in the deferred compensation fund. At '
NOTE 4-DEFERRED COMPENSATION December 31, 1990, the market value of the plans' assets were
The City offers its employees a deferred compensation plan created in $2,069,208.
accordance with Internal Revenue Code Section 457. This plan is
administered by the Hartford Life Insurance Company. The plan, It is the opinion of the City's legal counsel that the City has no liability '
available to all City employees,permits them to defer a portion of their for losses under the plan but does have the duty of due care that would
salary until future years. The deferred compensation is not available to be required of an ordinary prudent investor. The City believes that it is
employees until termination, retirement, death, or unforeseeable unlikely that it will use the assets to satisfy the claims of general
emergency. creditors in the future. '
Compensation deferred under the plan and all income attributable to NOTE 5-RECEIVABLES AND PAYABLES
the plan are solely the property of the City of Renton. The City's rights The following table details the specific receivables and payables at
to this property are subject only to the claims of the City's general December 31,1990. ,
Table 5: Receivables And Pa ables
Item General Special Revenue Debt Service Capital Projects Enterprise Internal Service Total
Receivables '
Taxes $ 303,047 $ 0 $ 67,398 $ 0 $ 0 $ 0 $ 370,445
Accounts 1,038,175 10,850 0 0 2,051,690 662 3,101,377
Special Assess.-Current 0 0 20,215 0 0 0 20,215
Special Assess.-Delinq. 0 0 31,866 0 0 0 31,866
Special Assess.-Deferred 0 0 7,166,060 0 0 0 7,166,060
Interest-Special Assess. 0 0 10,882 0 0 0 10,882
Interest on Investments 0 22,231 15,589 128,088 182,245 46,173 394,326
Total All Fund Types $ 1,341,222 $ 33,081 $ 7,312,010 $ 128,088 $ 2,233,935 $ 46,835 $ 11,095,171
Payables
Matured Bonds Payable $ 0 $ 0 $ 65,000 $ 0 $ 0 $ 0 $ 65,000
Matured Interest Payable 0 0 19,353 0 651 0 20,004
Accrued Interest Payable 0 0 0 0 327,835 15,926 343,761
Accrued Wages Payable 0 0 0 0 23,903 1,304 25,207
Accrued Taxes Payable 1 1,047 1 2,385 0 0 1 30,321 1 0 33,753
Total All Fund_Types IS 1,047 1$ 2,385 IS 84,353 $ 0 Is 382,710 IS 17,230 IS 487,725
Table 6: Interfund Receivables and Pa abler INTERFUND RECEIVABLES AND PAYABLES
Fund Due From Due To Table 6 shows a reconciliation of interfund receivables and payables.
General Fund $ 11,942 $ 161,294 INTERFUND LOANS/ADVANCES RECEIVABLE R PAYABLE
Special Revenue Funds: The following is a reconciliation of the $225,439 interfund loans and
Park Fund 250,917 14,431 advances of which$82,657 is current and$142,782 is long-term:
Street Fund 0 250,000
Impact Mitigation Fund 5,000 0 Table 7: Interfund Loans/Advances Receivable and Payable
Total Special Revenue 255,917 264,431 Interfund Loans/Advances
Debt Semite Funds. Fund Receivable Payable
Misc Debt Service 8,450 1,717 General Fund $ 4,000 $ 0
Total Debt Service 8,450 1,717 Internal Service Funds:
Capital Project Funds: Insurance Fund 221,439 0
Capital Improvement Fund 159,842 0 Enterprise Funds:
Total Capital Projects 159,842 0 Golf Course 0 221,439
Agency Funds:
Enterprise Funds: Advance Travel 0 4,000
Waterworks Utility Fund 42,708 172,501 Total All Fund Groups
$ 225,439 $ 225,439
Airport Fund 256 0
Solid Waste Utility Fund 3,605 3,035
Golf Course Fund 127,140 0 INTERGOVERNMENTAL RECEIVABLES
Total Enterprise 173,709 175,536 At December 31,1990, the receivables from other governmental units
Intental Semice Fun& included Federal, State and local grants receivable of $665,465, and
Equipment Rental Fund 1,953 8,666 several miscellaneous receivables amounting to $171,845 Included in
Insurance Fund 231 0 these miscellaneous receivables are: $32,275 from City of Tukwila for
Total Internal Service 2,184 1 8,666 storm drain design and construction costs; $9,090 from King County,
Trust&AgencvFunds: $3,477 for open space acquisition projects and $5,631 which represents
Special Deposit Fund 0 400 proceeds from an intergovernmental auction held in 1990;and$130,480
Total All Fund Groups 612,044 $ 612,044
from Valley Communications Center representing the balance of a loan
$
22
0 City of Renton Notes to The Financial Statements
advanced to Valley Com in 1985. See Note 9 for the details of this loan
transaction. ARBITRAGE PAYABLE
Table 8: Due From Other Governmental Units The Federal Tax Reform Act of 1986 requires issuers of tax-exempt
debt to make payments to the United States Treasury of investment
Source Amount income received at yields that exceed the issuer's tax-exempt borrowing
IN Grants: rates. The liability is recorded at present value and payable every 5
US Department of Justice $ 16,803 years or 60 days after defeasance of the debt. The estimated amount
US Department of Agriculture 145,361 due at year end is$242,540.
Emergency Management Agency 198,372
to WA Department of Transportation 212,657 NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS
Housing&Community Development 80,570 Interfund transfers are classified as either operating transfers or
-Washington Department of Ecology 11,702 residual equity transfers. Operating transfers are accounted for as
Subtotal-Grants Receivable 665,465 "other financing sources or uses" and are included in operating
Other Governmental Receivables: statements. Residual equity transfers are direct additions or
City of Tukwila 32,275 subtractions to fund balance/fund equity. The following interfund
Valley Communications Center 130,480 transactions occurred in 1990:
Ying County 9,090
Total Due from Other Governmental Units $837,310 Table 9: Residual E uit Transfers
Residual Transfer Out
INTERGOVERNMENTAL PAYABLES Total Street Forward Insurance
A total of$1,502,643 was recorded as due to other governmental units at Item Transfers In Thrust Fund
December 31, 1990. This included: 1.) $9,944 for Narcotics grant Transfers In
reimbursement to the agencies as follows: $2,997 to the City of Tukwila; Parks $ 36,706 $ 0 $ 36,706
$3,170 to the City of Auburn; and $3,777 to the City of Kent; 2.) 1 Capital Improvement 145,999 145,999 0
imp $438,691 is the portion of Municipal Court's outstanding receivables for Total $ 182,705 $ 145,999 $ 36,706
bail due to the State; 3.) $1,054,008 to Washington State DOT for
construction costs on I-405 project.
Table 10: Operating Transfers
Total Transfers Out
Item Transfers In General Contingency Cable Comm. Muni.Facilities
Operating Transfers In
General Fund $ 187,004 $ 0 $ 116,504 $ 70,500 $ 0
Street Fund 146,000 0 146,000 0 0
Misc Debt Service 76,146 0 0 0 76,146
Golf Course 376,029 1 376,029 0 0 0
Total $ 785,179 1 $ 376,029 $ 262,504 $ 70,500 $ 76,146
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. No depreciation has 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 1990 five
projects comprise the Construction Work in Progress. Upon completion,the projects will be capitalized in the general fixed asset account group in
their appropriate categories. Table 11 and 12 describes the changes in the City's general fixed assets during 1990 and the Construction Work In
Progress at the end of the year.
Table 11: Changes In General Fixed Assets
Asset Beginning Balance Additions Deletions Ending Balance
Land $ 8,275,763 $ 743,551 $ 0 $ 9,019,314
Buildings 13,429,593 4,747,533 67,452 18,109,674
Non-Building Improvements 12,960,098 693,103 1,050 13,652,151
Equipment 3,659,335 1,217,211 227,834 4,648,712
Construction in Progress 51367,710 93,053 5,367,710 93,053
Total $ 43,692,499 $ 7,494,451 $ 5,664,046 $ 45,522,904
Table 12: Construction Work In Progress
Project Cost To Date 1991 Commitment Estimated Total Cost
Fire Station#11 Improvements $ 462 $ 14,038 $ 14,500
Fire Station#12 Improvements 13,052 9,966 23,018
Cedar River Park Maintenance Shop 2,200 27,800 30,000
Cedar River Parking 57,331 6,385 63,716
Carso Theatre Improvements 20,008 7,743 27,751
Total $ 93,053 $ 65,932 $ 158,985
23
City of Renton Notes to The Financial Statements '
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 60 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 1990,interest costs incurred on construction projects in proprietary funds were not material. ,
A summary of Proprietary Fund property,plant,and equipment at December 31,1990,follows.
Table 13: Proprietary Property,Plant,&Equipment
Total Equipment Total Internal '
Asset Water/Sewer Airport Solid Waste Golf Course Enterprise Rental Service
Land $ 2,166,490 $ 784,080 $ 0 $ 2,683,200 $ 5,633,770 $ 0 $ 0
Buildings 3,022,879 275,078 0 430,800 3,728,757 0 0
Equipment 3,449,090 28,197 11,423 118,169 3,606,879 3,259,447 3,259,447
Other Improvements 81,385,363 7,074,826 0 1,373,079 89,833,268 0 0
Construction Work in Progress 2,951,874 0 0 44,215 2,996,089 0 0
Total Asset $ 92,975,696 $ 8,162,181 $ 11,423 $ 4,649,463 $ 105,798,763 $ 3,259,447 3,259,447 '
Less Accumulated Depreciation 17,398,244 4,561,098 0 272,665 (22,232,007 (1,721,249 1,721,249
Net Property,Plant,&Equipment $ 75,577,452 $ 3,601,083 $ 11,423 $ 4,376,798 $ 83,566,756 $ 1,538,198 $ 1,538,198
CONTRIBUTED CAPITAL RETIREMENT The purpose of the joint operation, hereafter referred to as Valley- '
The Airport Fund has$4,786,063 of contributed capital which includes Com,is to provide improved consolidated emergency communications
$4,646,463 of Federal,$53,775 of State,and$85,825 of private sources (dispatch) services for police, fire, and medical aid, to the four
which is being retired on an annual basis. The unamortized balance as participating cities and to the several subscribing agencies, which
of December 31,1990 was$1,479,442. include King County Fire Districts#1,#20,#40,#43,#46,#47;City of '
Pacific Police and Fire Departments;City of Algona Police Department;
The Water/Sewer Utility Fund has $60,808,552 of contributed capital, and Valley Medic Units. Separate agreements between Valley-Com and
which includes$2,261,550 of Federal and$2,576,890 of State contributed the subscribing agencies have been executed,which set forth conditions
capital. Private developer contributions amount to $25,169,671, of services and rates charged. ,
customers amount to $23,019,817 and other fund contributions total
$7,780,624• The allocation of prorated financial participation among the four
participating cities is the percentage of dispatched calls attributed to '
The Golf Course Fund has $5,000 of contributed capital. This figure each jurisdiction compared to the total dispatched calls,for the period
represents a $5,000 contribution from another fund for purchase of of July through June 30. 1990 calculations were based on actual 1989
equipment,and this amount is not being retired. first and second quarter calls and estimated third and fourth quarter
calls.
The Equipment Rental Fund has $1,034,993 of contributed capital, ,
representing payments by other funds for equipment purchases. This The percentages are applied to the current approved budget, less
amount is not being retired in the Equipment Rental Fund. revenue from all other sources. 1990 cost distribution for the four
participating cities was as follows:
NOTE 8-PREPAID ITEMS
The Airport Fund has recorded$3,938 of prepaid items at December 31,
1990. This amount represents prepaid insurance charges to be expensed Table 14: Joint Venture Cost Distribution
in 1990. Dispatchable Percent of 1990
City Calls Total Assessment
The Insurance Fund has recorded$3,000 of prepaid items at December Renton 39,702 29.82% $ 474,746
31, 1990. This amount represents a revolving fund established to pay Kent 39,452 29.63% 471,721
claims by our insurance broker. Auburn 34,440 25.86% 411,702
Tukwila 19,564 14.69% 233,871
NOTE 9-JOINT VENTURES Total 133,158 100.00% $1,592,040
The"Valley Communications Center"was established August 20,1976,
when an Interlocal Agreement was entered into by the four Valley-Conn is governed by an Administration Board,composed of the
participating municipal corporations, including the cities of Renton, Mayors or designated representatives from the four participating cities
Kent, Auburn, and Tukwila. The agreement is sanctioned by the of Renton,Kent,Auburn,and Tukwila. The Administration Board is
provisions and terms of the "Interlocal Cooperation Act" pursuant to responsible for the following functions: 1.) Budget review and
RCW 39.34. The initial duration of the agreement was five years,and recent inendations to the legislative bodies of the participating cities,and
thereafter is automatically extended for consecutive two year periods, budget adoption after each legislative body has approved the required
unless terminated by one or more of the participating cities. Any such financial participation for the ensuing year; 2.) Approves appointment
termination must be in writing and served upon the other cities on or and/or discharge of the Director; 3.) Approves personnel policy and
before July 1 in any one year,and such termination shall then become makes final decisions on all major policy changes; 4) Reviews and
effective on the last day of such year. approves all contracts.
24
City of Renton Notes to The Financial Statements
In addition,an Operations Board provides direction,and consists of two
members of each participating city's Public Safety Departments, Table 17: Joint Venture Equity
including the heads of such departments or their designees. The %of Equity 1990 Equity
Operations Board performs the following functions: 1.) Oversees the Equity 1/1/90 Increase 12/31/90
operation of Valley-Com,and advises and makes recommendations to Renton 31.36% $303,976 $ 56,337 $ 360,313
r the Administration Board; 2.) Makes recommendations on Director Kent 30.74% 297,967 55,222 353,189
selection; 3.) Presents proposed policies and budgets to the Auburn 25.39% 246,109 45,611 291,720
Administration Board; 4.) Approves disbursement of funds by the Tukwila 12.51% 1211
261 22,474 143,735
69 Director. Total 100.00% $969,313 $ 179,644 $1,148,957
The Director presents a proposed budget to the Operating Board on or
before August 15th of each year. Said budget is then presented to the Table 18: Joint Venture Statement of Revenues,Expenses and
Administration Board by September 1st of each year. The Changes in Retained Earnings
61 Administration Board can make changes to the proposed Valley-Com Item Amount
Budget as it finds necessary,but final approval falls to the legislative Operating Revenues:
body of each participating city,in accordance with the provisions of the Intergovernmental Charges $ 1,759,301
Interlocal Agreement. Miscellaneous 729
Total Operating Revenues 1,760,030
The Interlocal Agreement was amended in February 1985, when the Operating Expenses 1,566,123
four participating cities agreed to contribute the financing for Net Operating Income 193,907
construction of a new Valley-Com facility. The total amount of Nonoperating Revenues(Expenses):
financing needed was distributed among the four cities, based on
Revenues 25,856
dispatchable call statistics for the year 1984,as shown below. The cities Expenses (40,119)
will be repaid from Valley-Coin's revenue. The obligation is secured by Total Nono ratio Revenues(Expenses14,264
a ten-year promissory note, bearing 8.75% interest. The City of Net Income(Loss) 179,644
Renton's portion of the loan was advanced from the Equipment Rental
Fund, and repayment will be received into this fund. Following is a Retained Earnings at Beginning of Year 969,313
schedule of financing contributions, and outstanding debt for the Retained Earnings at End of Year $ 1,148,957
building loan at 8.75%maturing 4/1/95.
r
Table 15: Financing Contributions R OutstandingDebt NOTE 10-PENSION PLAN
Building Loan Authorized I Outstanding All of the City's full-time and qualifying part-time employees participate
City 1%ofTotall Amount 1 1/1/90 lRedeemedl 12/31/90 in one the following three defined benefit retirement systems: 1.)Public
Renton 31.81% $245,533 $154,812 $24,332 $130,480 Employees'Retirement System(PERS);2.) Law Enforcement Officers
Kent 28.84% 222,609 140,358 22,060 118,298 and Fire Fighters Retirement System (LEOFF) which are both
Auburn 26.38% 203,621 128,386 20,178 108,208 established by State statute and administered by the State's Department
Tukwila 12.97% 100,112 63,122 9,921 53,201 of Retirement Systems; and 3.) The Firemen's Pension System
Total 100.00% $771,875 $486,678 $76,491 $410,187 established and administered by the City according to State statute.
The City's total payroll for all employees was $18,535,745 for the year
Table Ib and 18 show the condensed financial position as of December ended December 31,1990.
31,and the results of operation and changes in retained earnings for the The pension benefit obligation presented by each system are standard
year ended 1990. disclosure measures of the present value of pension benefits, adjusted
Table 16: Joint Venture Balance Sheet for the effects of credited projected salary increases and step-rate
Item Amount benefits estimated to be payable in the future as a result of employee
IN
Assets:
service to date. The measure,which is the actuarial present value of
Current Assets: $ 492,578 projected benefits,is intended to help users assess the system's funding
Property,Plant,and Equipment 1,124,829 status on a going concern basis,assess progress made in accumulating
Total Assets $ 1,617,407 sufficient assets to pay benefits when due, and make comparisons
among systems and employers.
Liabilities and Fund Equity:
Current Liabilities $ 97,033 PUBLIC EMPLOYEE'S RETIREMENT SYSTEM
Long Term Liabilities 371,417 PERS is a contributory multi-employer cost-sharing retirement system.
Total Liabilities 468,450 All of the City's non-uniformed employees are covered by this system.
Retained Earnings 1,148,957 Membership in the system includes selected officials; state and local
Total Fund Equity 1,148,957 governmental employees; and other public employees. Approximately
rs Total Liabilities and Fund Equity $ 1,617,407 50% of PERS members are state employees. The system provides
retirement benefit at 2%of the final average salary per year of service.
The share of equity belonging to the four participating cities is shown in LAW ENFORCEMENT OFFICERS&FIRE FIGHTERS
Table 17. RETIREMENT SYSTEM
The LEOFF system is also a contributory multi-employer cost-sharing
Liabilities are the responsibility of the four participating cities in direct system for all uniformed law enforcement officers and fire fighters. The
proportion to their equity position. retirement benefits is calculated as a percentage of final average salary
based on years of service.
25
City of Renton Notes to The Financial Statements '
Table 19: PERS and LEOFF Information By Plan ,
PERS LEOFF
Plan 1 Plan 2 Plan 1 Plan 2 '
(Membership prior (Membership on or (Membership prior (Membership on or
Item to 10/1/7 after 10/1/77 to 10/1!77) after 10/1/77
Vesting Requirement:
Service year required for vesting of benefits 5/25/30 5/20` 5 5/20 '
Retiring age for vesting of benefits 60/55/an age 65/55` 50 58/50
Employee Contribution:
Actual rate @ 12/31/90 6.00% 4.70% 6.00% 7.60%
Actual amount $224,324 $300,275 $165,859 $276,731 '
Required rate 6.00% 4.33% 6.00% 7.72%
Required amount $224,324 $276,639 $165,859 $280,925 s
Employer Contribution:
Actual rate @ 12/31/90 7.39% 7.39% 6.00% 4.56% '
Actual amount $256,419 $440,669 $165,859 $174,069
Required rate 7.00% 7.00% 6.00% 4.63%
Required amount $261,711 $447,223 $165,859 $168,482
`Receive reduced benefits. '
Contributions to both systems by employee and employer are based on payroll for employees covered by the System for the year ended
actuarially determined requirements and established by State statute. December 31,1990 was$367,652.
The City's contribution in 1990 represents its full liability under both
systems except certain medical and disability premiums under LEOFF The retirement benefits vest after 20 years of service. Members may
Plan 1, which are considered immaterial. There were no material retire after 25 years of service regardless of age;and after age 50 with 20
changes in benefit provisions,actuarial assumptions,actuarial funding or more years of service. The plan also provides death and disability
methods, or other significant facts and the aggregate effect on the benefits. '
employer's contribution rate.
Table 20: PERS and LEOFF Information B stem In it The benefit provisions and all other requirements are established by
state statute.
Item IPERS LEOFF '
City payroll covered $10.128 $6.403 Significant Accounting Policies and Plan Assets
City's contribution as%of covered payroll 6.88% 5.40% Please refer to Note 1 to the financial statements with regards to the
Employees contribution as%of covered payroll 5.18% 6.91% significant accounting policies. Investments in the System are valued at
Pension benefit obligation $ 7,259 $3,318 cost, and completed transaction method is used in gain or loss ,
Less net assets available for benefits at market 6,222 (2,484) recognition on exchanges of securities. There was no material changes
Unfunded pension benefit obligation $ 1,037 1 $ 834 in any accounting policies in 1990.
The system does not make separate measurements of assets and Funding Status and Progress '
pension benefit obligation for individual employers. The pension The funding requirement and pension obligation was computed as part
benefit obligation and net assets available for benefits for the systems of an actuarial valuation performed as of December 31, 1990.
as a whole were determined through an actuarial valuation performed Significant actuarial assumptions used in the valuation include: 1.) 8%
as of December 31,1989. investment return, compounded annually,: 2.) 6.25% salary increase '
annually; 3.) 9% growth in fire insurance premium; 4.) 8% annual
Ten year historical trend information showing the systems' progress in increase in property tax;and 5.) 5% increase in consumer price index.
accumulating sufficient assets to pay benefits when due are presented in There were no material changes to the benefit provisions, actuarial
the retirement systems June 30,1990 Comprehensive Annual Financial funding method or other significant factors that affect contributions '
Report. required.
Unfunded Pension Benefit Obligation
FIREMEN'S PENSION The standardized measure of the unfunded pension benefit obligation '
Plan Descrias of December 31,1990,is as follows:
ption
The City contributes to the Firemen's Pension Plan (the System), a
closed, single-employer, defined benefit retirement plan established Table 21: Unfunded Pension Benefit Obligation '
and administered by the City in accordance with the Renton Municipal Item Amount
Code and State statutes. This system was established for fire fighters Retirees and beneficiaries currently receiving benefii $ 6,344,000
employed prior to March 1,1970,when the LEOFF retirement system Current Employees:
was established. The System is considered part of the City's reporting Cumulative Employee Contribution 42,966 '
entity and is included in the City's financial statements as a pension trust Employer Contribution-vested 597,034
fund. At December 31, 1990 there were 48 members in the System, Total Pension Benefit Obligation $ 6,984,000
including 41 retirees and beneficiaries currently receiving benefits and Net assets available for benefits,at cost(Market
terminated employees entitled to benefits but not yet receiving them;7 Value$2,334,323) (2,075,326)
vested active members and no nonvested active members. The City's Unfunded Pension Obligation $ 4,908,674
26
r
City of Renton Notes to The Financial Statements
Actuarial Funding Method&Amortization of Unfunded Pension Obligation
The System's funding policy requires the employer to make contributions for the actuarially determined amount using the Aggregate Cost funding
method with the unfunded obligation amortized over the period ending December 31,2008,assuming cost increases 8%annually. Employees are not
required to make contributions.
The contributions to the System for 1990 of$191,000 were made in accordance with actuarially determined requirements and represent 52%of the
covered payroll.Other incomes to the system include$48,865 from fire insurance premium and$135,340 of investment income. Trend data presented
below is designed to provide detailed information on the System's accumulation of sufficient assets to pay benefits when due.
Table 22: Fire Pension Ten-Year FundingPro ress Data
Unfunded
Net Assets Pension Annual Unfunded Pension Employer
Fiscal Available For Pension Benefit Percentage Benefit Covered Benefit Oblig As% Employer Contribution As%
Year Benefits Obligation Funded Obli ation Payroll of Covered Payroll Contribution of Covered Pa roll
1990 $ 2,075,326 $ 6,984,000 30% $ 4,908,674 $ 367,652 1335% $ 191,000 52%
1989 1,954,839 6,164,532 32% 4,209,693 456,618 922% 175,000 38%
1988 1,816,787 6,288,000 29% 4,471,213 467,220 957% 162,000 35%
1987 1,620,625 6,150,000 26% 4,529,375 468,665 966% 150,000 32%
1986 1,548,140 6,150,000 25% 4,601,860 516,247 891% 259,000 50%
1985 1,285,181 7,595,000 17% 6,309,819 559,051 1,129% 240,000 43%
1984 953,388 7,595,000 13% 6,641,612 574,767 1,156% 220,000 38%
1983 850,551 7,595,000 11% 6,744,449 652,375 1,034% 202,145 31%
1982 762,692 7,595,000 10% 6,832,308 789,973 865% 222,894 28%
1981 629,908 4,824,000 13% 4,194,092 737,644 569% 187,109 25%
*Not actuarially determined
Table 23: Fire Pension Tett-Year Revenues and Expenses
Revenues By Source Expenses by Type
Fiscal Employer Fire Insurance Investment
Year Contribution Premium Income Total Revenue Benefits Administration Total Ex nses
1990 $ 191,000 $ 48,865 $ 135,340 $ 375,205 $ 252,197 $ 2,521 $ 254,718
1989 175,000 49,842 263,152 487,994 251,468 5,722 257,190
1988 162,000 50,378 165,071 377,449 249,904 5,052 254,956
1987 150,000 53,834 106,714 310,548 235,971 2,092 238,063
1986 259,000 51,960 179,568 490,528 221,680 5,879 227,559
1985 240,000 34,244 88,427 362,671 213,036 2,110 215,146
1984 222,000 37,265 42,700 301,965 197,987 2,302 200,289
1983 202,145 37,788 51,370 291,303 200,387 3,057 203,444
1982 222,894 38,305 79,101 340,300 205,424 2,093 207,517
1981 187,109 38,822 52,829 278,760 165,365 1,086 166,451
NOTE 11-CONSTRUCTION COMMITMENTS Special Assessment Debt, repaid from special assessment payments
At December 31,1990 the City had significant contractual construction from participants;Proprietary Debt,repaid from proprietary revenues.
commitments.These are listed below. These debts are accounted in the following areas: 1.) The outstanding
general obligation debt,except for the portion applicable to proprietary
Table 24:Construction Commitments operations,are reported in General Long-Term Debt Account Group;
2.) The repayment or debt service of the sante is recorded in Debt
Project Title lCommitnient Fundina Source Service Funds;3.)The proprietary debt,includes the portion of general
Water Improvements $ 831,290 Revenue Bonds obligation debt applicable to proprietary operations,both the liability
Storm Drain Improve. 357,549 Revenue Bonds and repayment of the same are reported its individual proprietary funds.
Sewer Improvements 18,950 Revenue Bonds The City has an Al bond rating from Moody's Investors Service for both
Street Improvements 570,313 General/Grant its General Obligation Bonds and Revenue Bonds. The following is a
summary of long-terns debt transactions of the City for the year ended
NOTE 12-LONGTERM DEBT December 31,1990.
The City of Renton's long-term debt consists of General Obligation
Debt, repaid mainly from general governmental revenue sources;
Table 25: Long-Term Debt Additions and Retirements Summary
General Installment Special Employee
Item Obligation Contract Revenue Assessment Leave Benefits Total
ft Payable 12/331/89 $ 24,071,861 $ 223,370 $ 16,530,000. $8,200,000 $ 2,120,366 $ 51,145,597
Added 0 841,035 4,100,000 0 170,765 5,111,800
Retired 1,096,861 114,028 745,000 1,077,000) 0 3,032,889
Payable 12/31/90 $ 22,975,000 $ 950,377 1 $ 19,885,000 $ 7,123,000 $ 2,291,131 $ 53,224,508
to
27
No
City of Renton Notes to The Financial Statements
a
The following schedule provides detailed information for all City of Renton long-term debt.
Table 26: Outstanding Debt As Of December 31,1990
Interest Maturity Outstanding
Item Rates Date Authorized 1/1/90 Issued Redeemed 12/31/90
GENERAL OBLIGATION BONDS:
1978 Senior Citizens Center 5.38% 02/01/98 $ 900,000 $ 535,000 $ 0 $ 5,000 $ 490,000
1983 G O Refunding Bonds 8.70%-9.30% 05/01/02 2,655,000 405,000 0 85,000 320,000
1984 Equipment Floating 12/31/90 240,000 41,861 0 41,861 0
1985 Equipment 6.00%-8.75% 01/01/92 430,000 210,000 0 65,000 145,000
1986 G O Bonds 6.50%-9.00% 06/01/02 9,220,000 7,990,000 0 455,000 79535,000
1989 G O Bonds 6.10%-7.00% 02/01/02 1,6009000 1,600,000 0 80,000 1,520,000
1989 G O Refunding Bonds 6.75%-7.00% 05/01/02 2,085,000 2,0859000 0 35,000 2,050,000
1983 Unlimited G O Refunding Bonds 6.00%-10.00% 05/01/02 7,140,000 5,705,000 0 290,000 5,415,000
1989 Unlimited GO Bonds 6.40%-7.50% 02/01/09 5,500,000 5,500,000 0 0 5,500,000
Total General Obligation Bonds $ 29,770,000 $24,071,861 $ 0 $ 1,096,861 $ 22,975,000
INSTALLMENT CONTRACTS:
King County(Land) 8.40% 09/01/92 $ 405,000 $ 108,984 $ 0 $ 52,296 $ 56,688
King County(Land) 10.00% 10/01/94 90,300 84,634 0 6,233 78,401 '
Computer Lease 7.75% 04/15/90 174,949 29,752 0 29,752 0
Holm(Property) 10.00% 05/01/95 159,291 0 159,291 0 159,291
Holm Property Mortgage 10.50% 02iV1/95 80,708 0 80,708 424 80,284 '
Telephone Lease 8.00% 08/01/95 549,574 0 549,574 22,619 526,955
Print Shop Copier 9.01% 09/01/94 38,367 0 38,367 2,016 36,351
Copier Lease 9.01% 09/01/94 13,095 0 1 13,095 1 688 1 12,407
Total Installment Contracts $ 1,511,284 $ 223,370 $ 841,035 $ 114,028 $ 950,377 '
TOTAL GENERAL OBLIGATION $ 31,281,284 $24,295,231 $ 841,035 $ 1,210,889 $ 23,925,377
REVENUE BONDS:
1973 Airport 6.10% 04/01/96 $ 565,000 $ 180,000 $ 0 $ 40,000 $ 140,000 '
1977 Water/Sewer Refunding 6.01% 07/01/99 3,045,000 29470,000 0 190,000 2,280,000
1983 Water/Sewer 8.70% 05/01/99 1,500,000 1,130,000 0 75,000 1,055,000
1985 Water/Sewer 9.73% 04/01/85 2,6009000 565,000 0 75,000 490,000 '
1986 Water/Sewer 7.90% 08/01/06 1,800,000 1,670,000 0 50,000 1,620,000
1987 Water/SewerO 7.55% 06/01/06 3,375,000 3,275,000 0 105,000 3,170,000
1988 Water/Sewer 7.56% 06/01/08 3,460,000 3,375,000 0 90,000 3,285,000
1989 Water/Sewer 6.85%-7.50% 05/01/09 1,715,000 1,715,000 0 40,000 1,675,000 '
1989 Water/Sewer Refunding 6.00%-7.10% 04/01/05 2,150,000 2,150,000 0 80,000 2,070,000
1990 Water/Sewer 5.90%-7.37% 10/01/10 4,100,000 0 4,100,000 0 4,100,000
TOTAL REVENUE BONDS $ 24,310,000 $16,530,000 $ 4,100,000 $ 745,000 $ 19,885,000
LID BONDS AND NOTES:
285 Sewer 7.75% 04/01/97 $ 203,088 $ 109000 $ 0 $ 10,000 $ 0
291 Water 7.10% 11/01/95 373,839 15,000 0 15,000 0
302 Street/Utilities 10.93% 05/01/97 4,546,930 610,000 0 195,000 415,000
312 Street 11.00% 01/15/93 218,069 10,000 0 10,000 0
313 Street 6.25% 04/01/99 12,239 10,000 0 2,000 8,000
314 Street/Utilities 9.00%-11.125% 09/01/01 6,789,084 2,785,000 0 280,000 2,505,000 '
320/325 Street/Utilities 9.50% 12/01/95 832,560 285,000 0 45,000 240,000
322 Sewer 10.25% 06/01/95 488,506 65,000 0 65,000 0
323 Street/Sewer 9.99% 12/01/96 307,682 30,000 0 25,000 5,000
324 Street 7.50%-10.40% 07/01/96 252,922 75,000 0 25,000 50,000 '
328 Street 6.75%-9.75% 06/01/97 54,691 25,000 0 10,000 15,000
326/331 Street 5.50%-7.70% 10/01/98 372,160 205,000 0 65,000 140,000
330 Street/Utilities 5.50%-7.30% 07/01/00 380,299 295,000 0 70,000 225,000
332 Street/Utilities 6.00%-7.75% 10/15/05 3,450,183 3,180,000 0 260,000 2,920,000 ,
329 Street/Utilities Variable 06/30/91 600,000 600,000 0 0 600,000
TOTAL LID BONDS AND NOTES $ 18,882,252 $ 8,200,000 $ 0 $ 1,077,000 $ 7,123,000
28
CiN of Renton Notes to The Financial Statements
DEBT PRO RATED BETWEEN FUNDS
r The 1986 Limited General Obligation Bond issue included funds to provide permanent financing for the purchase of a Golf Course which was
acquired in 1985. The$4,008,580 is the remaining obligation for this purchase and is reported on the balance sheet of the Enterprise Funds.
Likewise,a pro rata share portion of the 1985,1986,and 1989 general obligation bonds was for the benefit of the Equipment Rental Fund and are
therefore reported on the balance sheet of the Internal Service Fund. The entire debt in each instance is secured by the full faith and credit of the
general government. The following provides a reconciliation of debt distribution between the Proprietary Funds and the General Long Term Debt
Account Group.
Table 27: Pro Rated Debt
r Water/Sewer Equipment General Long
Issue Utility Golf Course Rental Term Debt Total
1985 General Obligation Bond Issue:
Payable-Long Term $ 0 $ 0 $ 66,100 $ 17,300 $ 83,400
Payable-Current 0 0 61,600 0 61,600
Total 1985 General Obligation Bond $ 0 $ 0 $ 127,700 $ 17,300 $ 145,000
1986 General Obligation Bond Issue:
Payable-Long Term $ 620,495 $ 3,132,725 $ 302,603 $ 3,203,177 $ 7,259,000
Payable-Current 42,240 213,120 20,640 0 276,000
Total 1986 General Obligation Bond $ 662,735 $ 3,345,845 $ 323,243 $ 3,203,177 $ 7,535,000
1989 General Obligation Bond Issue:
Payable-Long Term $ 0 $ 0 $ 285,865 $ 1,217,220 $ 1,503,085
Payable-Current 0 0 16,915 0 16,915
Total 1989 General Obligation Bond $ 0 $ 0 $ 302,780 $ 1,217,220 $ 1,520,000
rOther General Obligation Bond: $ 0 $ 0 $ 0 $13,775,000 $13,775,000
nstallment Contract: $ 0 $ 0 $ 0 $ 950,377 $ 950,377
otal General Obligation Debt $ 662,735 $ 3,345,845 $ 753,723 $19,163,074 $23,925,377
SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT
As of December 31, 1990 a total of$7,123,000 of long term special assessment debt was outstanding which included$600,000 in the form of bond
anticipation notes. 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 31,1990 special
assessments receivables totaled$7,218,141,which includes$31,866 of delinquent assessments. $682,659 in guaranty fund represents 9.46%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: 0.75%Without
a vote of the people; 2.5%With a vote of the people; 5%With a vote of the people,provided the indebtedness in excess of 2.5%is for utilities;and
7.5%with a vote of the people provided the indebtedness in excess of 2.5%is for utilities,parks,or open space development. At December 31,1990,
the debt limits for the City were as follows:
Table 28: Debt Limit Capacities
With a Vote of the Peo le
Item Without a Vote 2.5% 5% 7.5%
Legal Limit $ 22,736,008 $ 75,786,694 $ 151,573,389 $ 227,360,083
Outstanding Net Indebtedness 12,782,666 18,272,653 18,272,653 23,097,447
Capacity Available $ 9,953,342 $ 57,514,041 $ 133,300,736 $ 204,262,636
REFUNDED DEBT
The City has refunded ten general obligation, Local Improvement District and revenue bond issues by placing the proceeds of new bonds in an
irrevocable trust to provide for all future debt service payments on the old bonds. As a result,the refunded bonds are considered to be defensed and
rM the liability has been removed from the City's financial statements. Schedules of assets and liabilities as of December 31, 1990,and changes to
refunded bonds payable are as follows:
Table 29: Refunded Bonds
Item U.S.Bank SeaFirst Puget Sowed Total
Assets:
Cash with Trustee $ 6,290 $ 752 $ 237 $ 7,279
Investments with Trustee 9,625,100 1,941,500 4,247,200 15,813,800
Total Assets $ 9,631,390 $ 1,942,252 $ 4,247,437 $ 15,821,079
Liabilities:
Refunded Bonds Payable $ 9,631,390 1 $ 1,942,252 $ 4,247,437 $ 15,821,079
1nr
29
!r
City of Renton Notes to 77re Financial Statements
i
Table 30: Changes to Refunded Bond Payable:
Item Balance 12/31/89 Increase Decrease Balance 12/31/90 '
Refunded Bonds Payable GO $ 9,975,000 $ 0 $ 385,000 $ 9,590,000
Refunded Bonds Payable LID 2,385,000 0 280,000 2,105,000
Refunded Bonds Payable Revenue 4,285,000 0 195,000 4,090,000
Total $ 16,645,000 $ 0 $ 860,000 $ 15,785,000 '
DEBT SERVICE TO MATURITY
Following is a schedule showing the debt service requirements to maturity for the City's long term debt. Formulas have been implemented to
compute the principal and interest obligations for the special assessment debt as it is redeemed in direct proportion with special assessment '
collections from district participants. A formula has also been used to compute the interest requirements on the general obligation debt that carries a
variable interest rate tied directly to the prime rate.
Table 31: Debt Service Requirement to Maturity ,
Total Long-Term GO Debt Revenue Bonds Special Assessment Debt Total Long-Term Debt
Year Principal Interest Principal Interest Principal Interest Principal Interest
1991 $ 1,467,546 S 1,784,310 $ 835,000 $ 1,431,785 S 1,391,000 574,460 $ 3,693,546 $ 3,790,555 '
1992 1,515,966 1,669,960 895,000 1,401,994 786,000 454,984 3,196,966 3,526,938
1993 1,546,709 1,554,682 955,000 1,343,383 726,000 387,795 3,227,709 3,255,860
1994 1,579,502 1,435,868 965,000 1,279,479 666,000 327,356 3,210,502 3,042,703 '
1995 1,744,108 1,302,567 1,035,000 1,211,252 571,000 272,575 3,350,108 2,786,394
1996 1,656,041 1,173,936 1,110,000 1,088,601 551,000 228,513 3,317,041 2,491,050
1997 1,792,145 1,039,349 1,195,000 1,011,113 526,000 186,466 3,513,145 2,236,928
1998 1,938,360 891,955 1,250,000 927,184 526,000 145,699 3,744,360 1,964,838 '
1999 2,005,000 733,030 1,380,000 833,054 510,000 104,931 3,895,000 1,671,015
2000 2,180,000 562,344 910,000 743,755 225,000 65,076 3,315,000 1,371,175
2001 1,725,000 407,036 990,000 675,794 225,000 48,246 2,940,000 1,131,076 '
2002 1,855,000 273,440 1,055,000 600,815 225,000 31,416 3,135,000 905,671
2003 330,000 194,285 1,145,000 519,680 195,000 14,586 1,670,000 728,551
2004 355,000 170,653 1,235,000 431,111 0 0 1,590,000 601,764
2005 385,000 144,930 1,330,000 334,874 0 0 1,715,000 479,804 ,
2006 410,000 117,105 1,180,000 239,941 0 0 1,590,000 357,046
2007 445,000 86,958 730,000 168,167 0 0 1,175,000 255,125
2008 480,000 54,120 790,000 111,772 0 0 1,270,000 165,892
2009 515,000 18,540 500,000 64,363 0 0 1,015,000 82,903
2010 0 0 370,000 1 27,287 0 0 370,000 27,287
Total $23,925,377 $13,615,068 $19,885,000 IS 14,445,404 $ 7,123,000 1$ 2,842,103 $50,933,377 IS30,902,575
AMOUNT AVAILABLE FOR DEBT SERVICE ,
Fund balances have been reserved for debt repayment are: $233,771 in capital projects fund and$2,127,644 in debt service funds.
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS '
In accordance with generally accepted accounting principles for regulated businesses,the Water/Sewer 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 31,1990,there was a balance remaining of$208,000.
NOTE 14-PRIOR PERIOD CORRECTIONS '
Water/Sewer Utility: 1990 beginning retained earnings have been restated as a result of two prior period corrections. The City settled a claim with
Texaco for water contamination resulting form an underground gas tank leak at a Texaco gas station located in the City. $134,935 of the settlement
represents reimbursement of unbilled clean-up costs incurred by the City in 1988. The City received a refund of $404,492 from the State for
overpayment of utility excise taxes during the years 1985 through 1989. Based on State statute,utility revenues collected for capital purposes are not
subject to State utility excise taxes.
Equipment Rental: Prior period corrections result from the discovery of unrecorded equipment acquisitions and disposals for previous years. 1990 ,
beginning retained earnings have been reduced by$9,369 which represents the net book value of equipment acquisitions and disposals of$3,517 and
$12,886,respectively.
30 '
City of Renton Notes to 77ie Financial Statements
NOTE 15-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 Euit
r General Debt Capital Internal Trust
Equity Reserved For: Fund Service Projects Enterprise I Service &Agency Total
Debt Service/Arbitrage $ 0 $2,127,644 $ 233,771 $1,428,423 $ 0 $ 0 $ 3,789,838
Advances/Other Funds 4,000 0 0 0 0 0 4,000
Insurance Deductible 0 0 0 0 500,000 0 500,000
Pension Obligation 0 0 0 0 0 6,984,000 6,984,000
Joint Venture 360,313 0 0 0 0 0 360,313
Total $ 364,313 $2,127,644 $ 233,771 $1,428,423 $ 500,000 $6,984,000 $11,638,151
Table 33: Unreserved Designated Fund Equity
Equity Designated For: General Fund Special Revenue Total
nn
Inmate Health&Welfare $ 8,635 $ 0 $ 8,635
Investigative Fund Confiscations 83,587 0 83,587
Developmentally Disabled Program 0 4,372 4,372
Total $ 92,222 $ 4,372 $ 96,594
NOTE 16-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
r 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 31,1990,was as follows:
Table 34: Segment Information for Enter rise Funds
Water/Sewer Total
Item Utility Airport Solid Waste Golf Course Outslandj
Total Operating Revenue $ 10,746,882 $ 375,654 $ 5,021,849 $ 666,748 $ 16,811,133
Operating Expenses:
Operations&Maintenance $ 6,318,010 $ 146,133 $ 4,350,407 $ 476,988 $ 11,291,538
Administrative&General 888,375 61,739 0 0 950,114
Insurance 0 10,018 0 0 10,018
Taxes 722,030 0 332,688 3,127 1,057,845
Depreciation 1,513,023 205,014 0 21,721 1,739,758
Total Operating Expenses $ 9,441,438 $ 422,904 $ 4,683,095 $ 501,836 $ 15,049,273
to Net O rating Income(Loss) $ 1,305,444 $ (47,250) $ 338,754 $ 164,912 $ 1,761,860
Non-Operating Revenue Net of Expenses (503,981) 122,137 58,654 (244,936) (568,126)
Operating Transfers In(Out) 0 0 0 376,029 376,029
Net Income Loss $ 801,463 $ 74,887 $ 397,408 $ 296,005 $ 1,569,763
r
Net Working Capital $ 1,873,383 $ 611,933 $ 657,895 $ 64,619 $ 3,207,830
Additions to Property,Plant and
Equipment, net of Disposals $ 6,922,459 $ 69,102 $ 11,423 $ 1,260,257 $ 8,263,241
ra Total Assets $ 89,491,470 $ 4,323,103 $ 1,026,129 $ 4,590,647 $ 99,431,349
Long Term Debt,Net of Current Portion
&Bond Premium/Discount $ 19,214,698 $ 99,873 $ 123 $ 3,193,434 $ 22,508,128
10 Current Capital Contributions $ 2,354,122 $ 0 $ 0 Is 0 $ 2,354,122
Total Fund Equity $ 67,289,481 $ 4,158,164 $ 669,195 IS 1,034,863 IS 73,151,703
NOTE 17-LITIGATION
IN There are several lawsuits pending in which the City is involved. 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 18-RISK MANAGEMENT
to The City of Renton protects itself against unforeseen property,liability,worker's compensation,and health 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,
y limits of insurance,and claims administrators for the major types of coverages is presented below.
31
to
City of Renton Notes to The Financial Statements '
Table 35: Risk Management
Risk Retention Risk Sharing
OccurrenceiClaimsAdm
,
of Coverage Aggregate ate Aggregate ate Carrier
Property $150,000 $ 500,000 Gallagher $10,000,000 Lloyd's,Firemen's Fund
Liability 150,000 350,000 Gallagher 1,000,000 Chubb,Lloyds,Intl Surplus
Public Official's 25,000 N/A Gallagher 1,000,000 National Union '
Worker's Comp 175,000 400,000 Gallagher 2,000,000 Safety Mutual
Employee Health 75,000 N/A NMI,Inc N/A Safeco
The City's risk management program is administered by the Administrative Services Administrator,with claims being processed by the independent '
claims administrators noted above. Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated settlement value of
both reported and unreported claims. As of December 31,1990,the City had accrued$215,179 for property/liability and$149,250 for medical/dental
insurances for claims that were incurred but not reported. 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.
On April 1,1991,the City implemented a new healthcare plan for its employees.The new self-funded plan offers a more streamlined version of the ,
earlier plan. As a result of the change,a new claims administrator was selected,Healthcare Managements Administrators who will replace NMI,Inc.
r
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32
City of Renton 1990 CAFR
GENERALFUND
The City of Renton's General Fund includes all financial
transactions which are not properly accounted for in other
funds. It is the largest accounting entity in the City and
provides for most of the general operation except for park,
street,and library functions,which are accounted for in special
revenue funds. The Housing and Community Development
Block Grant program is also included in the General Fund.
The major resource to the Fund is general tax revenue.
Licenses and permits,charges for service,and fines and forfeits
provide additional support.
ISI
City of Renton 1990 CAFR r
GENERAL FUND Page 1 of 1 ,
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989
ASSETS: 1990 1989 '
Cash and Cash Equivalents ........................ $ 1,401,312 $ 1,938,632
Receivables, net of Allowance for Uncollectibles:
Taxes ........................................ 303,047 294,047
Accounts ....................................... 1,038,175 1,057,084
Interest on Investments ........................ 0 5,627
Due From Other Funds ............................. 11,942 15,350
Due From Other Governmental Units ................ 119,570 81,287
Investment in Joint Venture ...................... 360,313 303,976
Interfund Loans/Advances - Non-Current ........... 4,000 4,000
T1TAi. ASSETS . $ 3,238,359 $ ;3,700,003
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers Payable ............................... $ 432,115 $ 241,405
Due To Other Funds ............................. 161,294 252,114
Due To Other Governmental Units ................ 448,635 462,841
Accrued Taxes Payable .......................... 1,047 0
Deposits Payable ............................... 58,091 50,375
Deferred Revenues 869,608 809,225 '
Accrued Employee Leave Benefits 96,674 126,012
TOTAL LIABILITIES ................................... S 2,067,4646 $ ,1,941,472;;
FUND EQUITY:
Fund Balance: '
Reserved For Joint Venture ................... $ 360,313 $ 303,976
Reserved For Advances To Other Funds ......... 4,000 4,000
Unreserved - Designated:
For Inmate Health & Welfare 8,635 9,654 ,
For Investigative Fund Confiscations ....... 83,587 29,368
For King County Health Contract ............ 0 479,744
Unreserved - Undesignated 714,360 931,289
TOTAL FUND EQUITY AND OTHER CREDITS ................ $ 1,170,895 $ 1,758,031': ,
TOTAL LIABILITIES AND FUND EQUITY .................. $ 3„238,359 S 3,700,
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34
6 City of Renton 1990 CAFR
GENERAL FUND Page 1 of 1
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
e
1990 1989
r
REVENUES
Taxes .............................................. S 14,803,059 $ 13,414,547
Licenses And Permits ............................... 834,018 675,386
Intergovernmental Revenues 1,738,328 1,415,913
Charges For Services ............................... 969,207 970,246
Fines And Forfeits ................................. 728,935 638,312
Interest ........................................... 157,431 241,899
Miscellaneous Revenues ........................... 190,359 235,898
TOTAL REVENUES ....................................... $ 19,421,337 $ 17,592,201
EXPENDITURES
Current:
General Government ............................... $ 4,211,029 $ 3,264,906
Security Of Persons And Property ................. 11,313,885 10,404,475
Physical Environment ............................. 790,466 990,521
Economic Environment 2,760,983 2,308,280
Mental And Physical Health ....................... 8,892 8,485
Capital Outlay ..................................... 762,572 348,363
�. Debt Service:
Principal Retirement ............................. 43,802 43,802
Interest & Fiscal Charges ........................ 35,874 53,953
TOTAL EXPENDITURES .................................. S 19,927,503 S 17,422,785
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (506,166) S 169,416
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... S 51,462 $ 0
Operating Transfers In ............................. 187,004 0
Operating Transfers (Out) .......................... (376,029) (379,712)
Sale Of General Fixed Assets . 256 10,867
......................
Joint Venture.. 56,337 66,628
TOTAL OTHER FINANCING SOURCES (USES) ................. S (80,970) S (302,217)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S (587,136) S (132,801)
FUND BALANCE JANUARY 1 ............................... 1,758,031 1,890,832
FUND BALANCE DECEMBER 31 ............................. S 1,170,895 $ 1,758,031
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--- 35
City of Renton 1990 CAFR '
GENERAL FUND Page 1 of 1 ,
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual '
Totals for Year Ended December 31, 1989
GENERAL
VARIANCE '
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES '
Taxes .............................................. $ 14,892,618 $ 14,803,059 $ (89,559) $ 13,414,547
Licenses And Permits ............................... 786,900 834,018 47,118 675,386 '
Intergovernmental Revenues ......................... 1,813,274 1,738,328 (74,946) 1,415,913
Charges For Services ............................... 1,067,811 969,207 (98,604) 970,246
Fines And Forfeits ................................. 754,298 728,935 (25,363) 638,312
Interest ........................................... 215,000 157,431 (57,569) 241,899 '
Miscellaneous Revenues ............................. 177,992 190,359 12,367 235,898
TOTAL REVENUES ....................................... $ 19,707,893 $ 19,421,337 $ (286,556) $ 17,592,201
!EXPENDITURES
Current: '
General Government ............................... $ 4,233,563 $ 4,211,029 $ 22,534 $ 3,264,906
Security Of Persons And Property ................. 11,688,193 11,313,885 374,308 10,404,475
Physical Environment ............................. 895,264 790,466 104,798 990,521
Economic Environment ............................. 2,939,779 2,760,983 178,796 2,308,280
Mental And Physical Health ....................... 7,873 8,892 (1,019) 8,485
Capital Outlay ..................................... 809,183 762,572 46,611 348,363
Debt Service:
Principal Retirement ............................. 43,804 43,802 2 43,802
Interest 8 Fiscal Charges ........................ 35,874 35,874 0 53,953
TOTAL EXPENDITURES ................................... $ 20,653,533 $ 19,927,503 S 726,030 $ 17,422,785
EXCESS (DEFICIENCY) OF REVENUES
MOVER EXPENDITURES .................................... $ (945,640) $ (506,166) $ 439,474 $ 169,416
i
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 51,462 $ 51,462 $ 0 ,
Operating Transfers In 187,004 187,004 0 0
Operating Transfers (out) .......................... (741,000) (376,029) 364,971 (379,712)
Sale Of General Fixed Assets ....................... 369,000 256 (368,744) 10,867
Joint Venture ...................................... 0 56,337 56,337 66,628
TOTAL OTHER FINANCING SOURCES (USES) ................. $ (184,996) $ (80,970) $ 104,026 $ (302,217)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
(EXPENDITURES AND OTHER FINANCING USES ................ S (1,130,636) $ (587,136) $ 543,500 S (132,801) ,
FUND BALANCE JANUARY 1 ............................... 1,613,678 1,758,031 144,353 1,890,832
FUND BALANCE DECEMBER 31 ............................. $ 483,042 $ 1,170,895 $ 687,853 $ 1,758,031
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36
City of Renton 1990 CAFR
SPECIAL REVENUE FUNDS
Special Revenue Funds account for the proceeds of specific
revenue sources other than special assessments, expendable
trust, or major capital projects. These revenues finance
6 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
f primarily from general tax revenues and charges for services.
6 ARTERIAL STREET FUND-Established in accordance with
RCW 82.36.020 for the administration of the State levied motor
vehicle 1/2 cent gasoline tax distributed to Renton.
Expenditures are limited by law to capital improvements of
City arterial streets.
ft 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
r street purposes.
IMPACT MITIGATION FUND - Created to account for
monies collected from developers to offset park and traffic
impacts created by their developments.
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
r library fines.
CONTINGENCY FUND-Provides funding for any municipal
expense, the necessity or extent of which could not have been
foreseen or reasonably evaluated at the time of budget
adoption. Resources to the fund are general tax revenues.
PATHS AND TRAILS RESERVE FUND - Created for the
purpose of planning, accommodating, establishing, and
maintaining certain paths and trails. 1/2 of 1% of the State
levied motor vehicle fuel tax distributed to Renton,is allocated
to this fund each year.
ONE PERCENT FOR ART FUND - Established to account
for expenditures for art at new municipal facilities (City
Ordinance#2969).
CABLE COMMUNICATIONS DEVELOPMENT FUND
Provision for promotion and development of cable
communications(City Ordinances#3155 and#3137). Primary
resource is franchise fees.
L
37 —
City of Renton 1990 CAFR
SPECIAL REVENUE FUNDS Page 1 of 2
COMBINING BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989
PARK ARTERIAL STREET IMPACT LIBRARY
STREET MITIGATION
ASSETS:
Cash and Cash Equivalents ........................ S 14,271 E 28,755 S 62,730 S 58,736 $ 78,362
Investments ...................................... 150,000 25,000 660,000 1,370,000 0 '
Receivables, net of Allowance for Uncollectibles:
Accounts ....................................... 1,491 0 9,359 0 0
Interest on Investments ........................ 0 0 4,560 14,345 0
Due From Other Funds ............................. 250,917 0 0 5,000 0 '
Due From Other Governmental Units ............... 58,055 203,362 27,549 0 0
TOTAL ASSETS ....................................... S 474,734. :: R 25;',1iT $-7641,198 $',1,448,081 :.>78,362
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers Payable ............................... $ 147,386 $ 52,801 S 128,893 $ 527 $ 7,352
Judgments/Annuities/Contracts Payable .......... 0 6,473 0 0 0
Due To Other Funds ............................. 14,431 0 $ 250,000 0 0
Accrued Taxes Payable .......................... 2,385 0 0 0 0 '
Deposits Payable ............................... 10,756 0 $ 0 0 0
Deferred Revenues .............................. 0 0 $ 7,343 0 0
Accrued Employee Leave Benefits ................ 31,237 0 21,991 0 4,569
TOTAL''LIABILITIES .................................. S 206,195 S 59,274 f 408,.227 $ 527 E 11,921
FUND EQUITY: '
Fund Balance:
Unreserved - Designated: '
Developmentally Disabled Program ........... $ 4,372 $ 0 $ 0 $ 0 S 0
Unreserved - Undesignated .................... 264,167 197,843 355,971 1,447,554 66,441
TOTAE<fUND EQU.ITlI.AMD !OTHEIr CREDITS ................ $'268,539 $ 147,84 r 355,971 aF1 A/i .5*�4 S' "66,441`;'.
TOTAL LIABILITIES AND .FUND EW17Y .................. 5,474,734 $ 25:7 11T".:S 764 198 ;<1,:448 O81 S "'78,362''
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38
City of Renton 1990 CAFR
Page 2 of 2
CABLE TOTALS
PATHS ONE PERCENT COMMUNICATIONS
8 TRAILS FOR ART DEVELOPMENT 1990 1989
S 7,368 S 44,231 S 41,224 $ 335,677 $ 1,511,418
0 0 333,520 2,538,520 655,067
0 0 0 10,850 9,755
0 0 3,326 22,231 10,859
0 0 0 255,917 178,347
0 0 0 288,966 0
$ 7,368 $ 44,231 $ 378,070 $ 3,452,161 $ 2,365,446
$ 0 $ 0 S 0 $ 336,959 S 219,800
0 0 0 6,473 17,879
0 0 0 264,431 8,859
0 0 0 2,385 1,455
0 0 0 10,756 9,000
0 0 0 7,343 3,664
0 0 0 57,797 48,807
$ 0 S 0 S 0 $ 686,144 $ 309,464
$ 0 $ 0 $ 0 $ 4,372 S 4,389
7,368 44,231 378,070 2,761,645 2,051,593
$ 7,368 $ 44,231 S 378,070 $ 2,766,017 $ 2,055,982
S 7,368 $ 44,231 $ 378,070 S 3,452,161 $ 2,365,446
I
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39
City of Renton 1990 CAFR ,
SPECIAL REVENUE FUNDS Page 1 of 2 ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
PARK ARTERIAL STREET IMPACT ,
STREET MITIGATION
REVENUES '
Taxes .............................................. S 3,899,439 S 0 S 1,700,694 S 1,181,623 '
Licenses And Permits ............................... 0 0 19,240 0
Intergovernmental Revenues ......................... 77,578 603,994 660,372 0
Charges For Services ............................... 300,416 0 7,727 0
Fines And Forfeits ................................. 0 0 0 0 '
Interest ........................................... 26,616 13,025 32,958 76,018
Miscellaneous Revenues ............................. 349,129 0 1,407 0
TOTAL REVENUES ....................................... S 4,653,178 S 617,019 $ 2,422,398 $ 1,257,641
EXPENDITURES ,
Current:
General Government ............................... $ 1,447,841 $ 0 $ 0 $ 0
Security Of Persons And Property ................. 0 0 0 0 '
Transportation ................................... 114,530 581,821 2,662,505 28,332
Economic Environment ............................. 336,560 0 0 0
Culture and Recreation ........................... 2,927,938 0 0 0
Capital Outlay ..................................... 381,086 0 17,418 11,151 ,
TOTAL EXPENDITURES .... ...'......................... S 5,207,955 S 581,821 S 2,679,923 $ 39,483
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... S (554,777) S 35,198 $ (257,525) $ 1,218,158
OTHER FINANCING SOURCES (USES) '
Proceeds Of long-Term Debt ......................... $ 240,000 $ 0 S 0 $ 0
Operating Transfers In ............................. 146,000 0 0 0 '
Operating Transfers (Out) .......................... 0 0 0 0
Sale Of General Fixed Assets ....................... 16,600 0 112,114 0
TOTAL OTHER FINANCING SOURCES (USES) ................. S 402,600 S 0 $ 112,114 S 0
EXCESS (DEFICIENCY) OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S (152,177) S 35,198 $ (145,411) $ 1,218,158
FUND BALANCE JANUARY 1 ............................... 384,010 162,645 501,382 229,396
Residual Equity Transfers In ....................... 36,706 0 0 0
Residual Equity Transfers Out ...................... 0 0 0 0
FUND BALANCE DECEMBER"31 ............................. $ 268,539 $ 197,843 $ 355,971 $ 1,447,554
40 -- --- --- ,
City of Renton 1990 CAFR
Page 2 of 2
ONE CABLE TOTALS
LIBRARY CONTINGENCY PATHS PERCENT COMMUNICATIONS
& TRAILS FOR ART DEVELOPMENT 1990 1989
S 785,758 S 0 f 0 S 0 $ 0 S 7,567,514 $ 6,324,358
0 0 0 0 0 19,240 16,260
0 0 3,048 0 0 1,344,992 893,411
13,136 0 0 0 0 321,279 307,534
13,511 0 0 0 0 13,511 11,747
2,480 7,801 466 2,507 33,680 195,551 192,062
3,075 0 0 0 0 353,611 257,316
$ 817,960 $ 7,801 S 3,514 S 2,507 $ 33,680 $ 9,815,698 S 8,002,688
$ 0 $ 0 $ 0 $ 0 $ 0 $ 1,447,841 S 1,283,988
0 0 0 0 0 0 10,325
0 0 0 0 0 3,387,188 3,294,786
0 0 0 0 0 336,560 332,922
638,601 0 0 0 6,467 3,573,006 3,254,427
165,829 0 0 4,000 0 579,484 259,447
S 804,430 S 0 S 0 S 4,000 S 6,467 $ 9,324,079 S 8,435,895
$ 13,530 $ 7,801 S 3,514 $ (1,493) S 27,213 $ 491,619 $ (433,207)
$ 0 $ 0 S 0 $ 0 $ 0 $ 240,000 S 0
0 0 0 0 0 146,000 98,413
0 (262,504) 0 0 (70,500) (333,004) (305,024)
0 0 0 0 0 128,714 14,065
S 0 S (262,504) S 0 $ 0 $ (70,500) $ 181,710 S (192,546)
$ 13,530 S (254,703) $ 3,514 $ (1,493) $ (43,287) S 673,329 $ (625,753)
52,911 254,703 3,854 45,724 421,357 2,055,982 2,636,927
0 0 0 0 0 36,706 44,808
0 0 0 0 0 0 0
S 66,441 $ 0 S 7,368 $ 44,231 S 378,070 $ 2,766,017 $ 2,055,982
I
I
41 J
City of Renton 1990 CAFR
SPECIAL REVENUE FUNDS Page 1 of 7 ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual '
Totals for Year Ended December 31, 1989
PARK
VARIANCE '
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES '
Taxes .............................................. S 3,949,635 $ 3,899,439 $ (50,196) $ 3,587,827 '
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 26,930 77,578 50,648 0
Charges For Services ............................... 307,000 300,416 (6,584) 288,288
Fines And Forfeits ................................. 0 0 0 0 ,
Interest ........................................... 25,000 26,616 1,616 32,259
Miscellaneous Revenues ............................. 277,000 349,129 72,129 208,312
TOTAL REVENUES ....................................... $ 4,585,565 $ 4,653,178 $ 67,613 $ 4,116,686
EXPENDITURES ,
Current:
General Government ............................... $ 1,525,250 $ 1,447,841 $ 77,409 $ 1,283,988
Security Of Persons And Property ................. 0 0 0 0 ,
Transportation ................................... 116,244 114,530 1,714 87,884
Economic Environment ............................. 394,381 336,560 57,821 332,922
Culture and Recreation ........................... 2,992,828 2,927,938 64,890 2,663,409
Capital Outlay ..................................... 65,050 381,086 (316,036) 67,364
TOTAL EXPENDITURES ................................... $ 5,093,753 $ 5,207,955 $ (114,202) $ 4,435,567 '
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (508,188) $ (554,777) $ (46,589) $ (318,881)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 240,000 $ 240,000 $ 0
Operating Transfers In ............................. 146,000 146,000 0 0
Operating Transfers (Out) .......................... 0 0 0 0 '
F Sale Of General Fixed Assets ...................... 0 16,600 16,600 4,290
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 146,000 S 402,600 $ 256,600 $ 4,290
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (362,188) $ (152,177) $ 210,011 $ (314,591)
I
FUND BALANCE JANUARY 1 ............................... 412,188 384,010 (28,178) 653,793
Residual Equity Transfers In (Out) ................. 0 36,706 36,706 44,808
FUND BALANCE DECEMBER 31 ............................. $ 50,000 $ 268,539 $ 218,539 $ 384,010
42
City of Renton 1990 CAFR
Page 2 of 7
ARTERIAL STREET STREET
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
-
$ 0 $ 0 $ 0 $ 0 $ 1,999,819 $ 1,700,694 $ (299,125) $ 1,865,915
0 0 0 0 9,000 19,240 10,240 16,260
,. 731,222 603,994 (127,228) 345,009 527,312 660,372 133,060 545,976
0 0 0 100 10,000 7,727 (2,273) 6,591
0 0 0 0 0 0 0 0
15,087 13,025 (2,062) 20,747 25,000 32,958 7,958 32,958
0 0 0 22,441 5,300 1,407 (3,893) 24,986
$ 746,309 $ 617,019 $ (129,290) $ 388,297 $ 2,576,431 $ 2,422,398 $ (154,033) $ 2,492,686
�. $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 10,325
849,713 581,821 267,892 442,836 3,126,994 2,662,505 464,489 2,739,327
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 18,500 17,418 1,082 25,642
$ 849,713 $ 581,821 $ 267,892 $ 442,836 $ 3,145,494 $ 2,679,923 $ 465,571 $ 2,775,294
$ (103,404) $ 35,198 $ 138,602 $ (54,539) $ (569,063) $ (257,525) $ 311,538 $ (282,608)
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 91,393
0 0 0 0 0 0 0 0
0 0 0 0 110,000 112,114 2,114 9,775
$ 0 $ 0 $ 0 $ 0 $ 110,000 $ 112,114 $ 2,114 $ 101,168
$ (103,404) $ 35,198 $ 138,602 $ (54,539) $ (459,063) $ (145,411) $ 313,652 $ (181,440)
190,156 162,645 (27,511) 217,184 499,063 501,382 2,319 682,822
0 0 0 0 0 0 0 0
$ 86,752 $ 197,843 $ 111,091 $ 162,645 $ 40,000 $ 355,971 $ 315,971 $ 501,382
i
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-- - __- 43 - --- -- J
City of Renton 1990 CAFR
SPECIAL REVENUE FUNDS Page 3 of 7 '
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual ,
Totals for Year Ended December 31, 1989
IMPACTlMITIGION
VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES ,
Taxes .............................................. $ 952,986 $ 1,181,623 $ 228,637 $ 23,330
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
Interest ........................................... 12,000 76,018 64,018 24,174 ,
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES ....................................... $ 964,986 $ 1,257,641 $ 292,655 $ 47,504
EXPENDITURES '
Current:
i
General Government ............................... $ 0 $ 0 $ 0 $ 0
Security Of Persons And Property ................. 0 0 0 0
Transportation ................................... 1,121,577 28,332 1,093,245 24,739 '
Economic Environment ............................. 0 0 0 0
Culture and Recreation ........................... 0 0 0 0
Capital Outlay ..................................... 57,816 11,151 46,665 12,111
TOTAL EXPENDITURES .................................. $ 1,179,393 $ 39,483 $ 1,139,910 $ 36,850
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (214,407) $ 1,218,158 $ 1,432,565 $ 10,654
OTHER FINANCING SOURCES (USES) '
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) .......................... 0 0 0 0
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 ................ $ (214,407) $ 1,218,158 $ 1,432,565 $ 10,654
FUND BALANCE JANUARY 1 ............................... 226,407 229,396 2,989 218,742
Residual Equity Transfers In (Out) ................. 0 C 0 0
FUND BALANCE DECEMBER 31 ............................. $ 12,000 $ 1,447,554 $ 1,435,554 $ 229,396
I
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44
City of Renton 1990 CAFR
Page 4 of 7
LIBRARY CONTINGENCY
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 767,447 $ 785,758 $ 18,311 $ 625,166 $ 0 $ 0 $ 0 $ 148,960
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
12,100 13,136 1,036 12,555 0 0 0 0
11,000 13,511 2,511 11,747 0 0 0 0
5,000 2,480 (2,520) 8,251 8,590 7,801 (789) 33,241
.. 1,000 3,075 2,075 1,577 0 0 0 0
$ 796,547 $ 817,960 $ 21,413 $ 659,296 $ 8,590 $ 7,801 $ (789) $ 182,201
$ 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
668,219 638,601 29,618 583,502 0 0 0 0
158,000 165,829 (7,829) 133,057 0 0 0 0
$ 826,219 $ 804,430 $ 21,789 $ 716,559 $ 0 S 0 $ 0 $ 0
$ (29,672) $ 13,530 $ 43,202 $ (57,263) $ 8,590 $ 7,801 $ (789) $ 182,201
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 (262,504) (262,504) 0 (305,024)
0 0 0 0 0 0 0 0
$ 0 $ 0 $ 0 $ 0 $ (262,504) S (262,504) $ 0 $ (305,024)
I
$ (29,672) $ 13,530 $ 43,202 $ (57,263) $ (253,914) $ (254,703) $ (789) $ (122,823)
ir.
49,672 52,911 3,239 110,174 253,914 254,703 789 377,526
0 0 0 0 0 0 0 0
$ 20,000 $ 66,441 $ 46,441 $ 52,911 $ 0 $ 0 $ 0 $ 254,703
I
I
45 _ J
City of Renton 1990 CAFR
SPECIAL REVENUE FUNDS Page 5 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
PATHS'AND TRAILS
VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 $ 0 $ 0
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 2,342 3,048 706 2,426
Charges For Services ............................... 0 0 0 0
Fines And Forfeits ................................. 0 0 0 0 '
Interest ........................................... 200 466 266 214
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES ....................................... $ 2,542 $ 3,514 $ 972 $ 2,640
EXPENDITURES '
Current:
General Government ............................... $ 0 $ 0 $ 0 $ 0
Security Of Persons And Property ................. 0 0 0 0
Transportation ................................... 0 0 0 0
Economic Environment ............................. 0 0 0 0
Culture and Recreation ........................... 0 0 0 0
Capital Outlay ..................................... 0 0 0 0
TOTAL EXPENDITURES ................................... $ 0 $ 0 $ 0 $ 0 '
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 2,542 $ 3,514 $ 972 $ 2,640
I
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) .......................... 0 0 0 0
Sale Of General Fixed Assets ....................... 0 0 0 0
1 TOTAL OTHER FINANCING SOURCES (USES) ................. $ 0 $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 2,542 $ 3,514 $ 972 $ 2,640
r
FUND BALANCE JANUARY 1 ............................... 3,599 3,854 255 1,214
Residual Equity Transfers In (Out) ................. 0 0 0 0
FUND BALANCE DECEMBER 31 ............................. $ 6,141 $ 7,368 $ 1,227 $ 3,854
i
46 -- — -- --- ,
City of Renton 1990 CAFR
Page 6 of 7
ONE PERCENT FOR ART CABLE COMMUNICATIONS DEVELOPMENT
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 73,160
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
4,200 2,507 (1,693) 3,867 34,000 33,680 (320) 36,351
0 0 0 0 0 0 0 0
$ 4,200 S 2,507 $ (1,693) $ 3,867 $ 34,000 $ 33,680 $ (320) $ 109,511
$ 0 $ 0 $ 0 $ 0 S 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 14,382 6,467 7,915 7,516
49,636 4,000 45,636 20,571 0 0 0 702
$ 49,636 $ 4,000 $ 45,636 $ 20,571 $ 14,382 $ 6,467 $ 7,915 $ 8,218
$ (45,436) $ (1,493) $ 43,943 $ (16,704) $ 19,618 $ 27,213 $ 7,595 $ 101,293
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 7,020 0 0 0 0
0 0 0 0 (70,500) (70,500) 0 0
0 0 0 0 0 0 0 0
$ 0 $ 0 $ 0 $ 7,020 $ (70,500) $ (70,500) $ 0 $ 0
$ (45,436) $ (1,493) $ 43,943 $ (9,684) $ (50,882) $ (43,287) $ 7,595 $ 101,293
M �
45,436 45,724 288 55,408 415,392 421,357 5,965 320,064
0 0 0 0 0 0 0 0
$ 0 $ 44,231 $ 44,231 $ 45,724 $ 364,510 $ 378,070 $ 13,560 $ 421,357
.. 1
- -- --- 47 -- ----- - J
City of Renton 1990 CAFR ,
SPECIAL REVENUE FUNDS Page 7 of 7 ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
TOTALS
VARIANCE ,
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 7,669,887 $ 7,567,514 $ (102,373) $ 6,324,358
Licenses And Permits ............................... 9,000 19,240 10,240 16,260 '
IntergovernmentaL Revenues ......................... 1,287,806 1,344,992 57,186 893,411
Charges For Services ............................... 329,100 321,279 (7,821) 307,534
Fines And Forfeits ................................. 11,000 13,511 2,511 11,747
Interest 129,077 195,551 66,474 192,062
Miscellaneous Revenues ............................. 283,300 353,611 70,311 257,316
TOTAL REVENUES ....................................... $ 9,719,170 $ 9,815,698 $ 96,528 $ 8,002,688
EXPENDITURES
Current:
General Government .................... $ 1,525,250 $ 1,447,841 $ 77,409 $ 1,283,988
Security Of Persons And Property ................. 0 0 0 10,325
Transportation ................................... 5,214,528 3,387,188 1,827,340 3,294,786 ,
Economic Environment ............................. 394,381 336,560 57,821 332,922
Culture and Recreation ........................... 3,675,429 3,573,006 102,423 3,254,427
Capital Outlay .................................... 349,002 579,484 (230,482) 259,447 ,
TOTAL EXPENDITURES ................................... $ 11,158,590 $ 9,324,079 $ 1,834,511 $ 8,435,895
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,439,420) $ 491,619 $ 1,931,039 $ (433,207)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 240,000 $ 240,000 $ 0
Operating Transfers In ............................. 146,000 146,000 0 98,413
Operating Transfers (Out) .......................... (333,004) (333,004) 0 (305,024)
Sale Of Generat Fixed Assets ....................... 110,000 128,714 18,714 14,065
TOTAL OTHER FINANCING SOURCES (USES) ................. $ (77,004) $ 181,710 $ 258,714 $ (192,546)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,516,424) $ 673,329 $ 2,189,753 $ (625,753)
FUND BALANCE JANUARY 1 ............................... 2,095,827 2,055,982 (39,845) 2,636,927
Residual Equity Transfers In (Out) ................ 0 36,706 36,706 44,808
FUND BALANCE DECEMBER 31 ............................. $ 579,403 $ 2,766,017 $ 2,186,614 $ 2,055,982
48 --
City of Renton 1990 CAFR
DEBT SERVICE FUNDS
r
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.
1978 LIMITED GENERAL OBLIGATION BOND
' REDEMPTION FUND - Accounts for debt service on a
Council-approved bond issue, which provided partial funding
for construction of the Renton Senior Citizens'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 DE13T
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.
49 --
City of Renton 1990 CAFR '
DEBT SERVICE FUNDS Page 1 of 2
COMBINING BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989 1989 LIMITED 1983 UNLIMITED
1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS BONDS BONDS
ASSETS:
Cash and Cash Equivalents ........................ S 58,173 S 42,795 $ 37,830
Cash With Fiscal Agent ........................... 0 930 12,698 '
Investments ...................................... 0 0 550,000
Receivables, net of ALlowance for Uncollectibles:
Taxes .......................................... 0 0 26,097
Special Assessments Current .................. 0 0 0 1
Special Assessments - Delinquent ............... 0 0 0
Special Assessments - Deferred ................. 0 0 0
Interest - Special Assessments ................. 0 0 0
Interest on Investments ........................ 0 0 0 1
Due From Other Funds ............................. 0 0 0
Due From Other Governmental Units ................ 0 0 0
tOtAt ASSETS S 5$;.173 S 43,725 S 626625
LIABILITIES AND FUND EQUITY: '
LIABILITIES:
Vouchers Payable ............................... $ 0 S 0 $ 0
Due To Other Funds ............................. 0 0 0
Matured Bonds Payable .......................... 0 0 0 !
Matured Interest Payable ....................... 0 930 12,698
Deferred Revenues ............................. 0 0 23,721
TO7Al 1ABi'L171ES S 0 S 930 $ $6,419
FUND EQUITY:
Fund Balance:
Reserved For Debt Service .................... S 58,173 S 42,795 S 590,206
TOTAL FUND EQUITY AND OTHER CREDITS ................ $ 58,173 S 42,795 -3 590 206 1
TOTAL LIABILITIES AND FUND EQUITY .................. S 58 173 S 43`725 S 626 625:;
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City of Renton 1990 CAFR
Page 2 of 2
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1990 1989
S 45,692 S 7,547 S 49,388 S 26,657 S 268,082 S 540,632
0 0 41,015 0 54,643 38,278
75,000 0 525,000 650,000 1,800,000 1,288,100
21,324 19,977 0 0 67,398 49,463
0 0 20,215 0 20,215 26,836
0 0 31,866 0 31,866 67,693
0 0 7,166,060 0 7,166,060 8,184,305
0 0 10,882 0 10,882 22,292
0 0 9,587 6,002 15,589 16,145
81450 0 0 0 8,450 0
0 0 0 0 0 0
S 150,466 S 27,524 S 7,854,013 S 682,659 $ 9,443,185 S 10,2L3,744
$ 22,006 S 0 S 173 S 0 S 22,179 S 0
11717 0 0 0 1,717 0
0 0 65,000 0 65,000 45,038
0 0 5,725 0 19,353 23,660
0 17,511 7,166,060 0 7,207,292 8,220,068
$ 23,723 $ 17,511 S 7,236,958 $ 0 S 7,315,541 S 8,288,766
$ 126,743 S 10,013 S 617,055 $ 682,659 S 2,127,644 S 1,944,978
S 126,743 $ 10,013 S 617,055 S 682,659 $ 2,127,644 $ 1,944,978
S 150,466 S 27,524 S 7,854,013 S 682,659 S 9,443 185 S 10,233,744
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City of Renton 1990 CAFR '
DEBT SERVICE FUNDS Page 1 of 2
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
1989 LIMITED 1983 UNLIMITED ,
1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS BONDS BONDS
REVENUES
Taxes .............................................. S 69,770 $ 296,112 S 764,071 '
Intergovernmental Revenues ......................... 0 0 0
Special Assessments ................................ 0 0 0
Interest ........................................ 694 2,780 37,530
TOTAL REVENUES ....................................... $ 70,464 S 298,892 S 801,601
EXPENDITURES
Debt Service:
Principal Retirement ............................. S 45,000 S 120,000 $ 290,000
Interest & Fiscal Charges ....................... 27,415 176,233 531,265
TOTAL EXPENDITURES .................................. $ 72,415 $ 296,233 $ 821,265
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,951) S 2,659 $ (19,664) '
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... S 0 $ 0 $ 0
Operating Transfers In ............................. 0 0 0
Operating Transfers (Out) .......................... 0 0 0
Funds Remitted to Bond Trustee .................... 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 0 S 0 S 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S (1,951) $ 2,659 S (19,664) '
FUND BALANCE JANUARY 1 ............................... 60,124 40,136 609,870
Residual Equity Transfers In ....................... 0 0 0 ,
Residual Equity Transfers Out ..................... 0 0 0
FUND BALANCE DECEMBER 31 ............................. S 58,173 S 42,795 S 590,206
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F
City of Renton 1990 CAFR
Page 2 of 2
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1990 1989
S 731,508 S 556,852 S 0 S 0 S 2,418,313 S 1,848,466
0 0 0 0 0 96
0 0 1,019,930 0 1,019,930 1,089,644
4,334 0 793,803 52,508 891,649 1,161,728
S 735,842 S 556,852 S 1,813,733 S 52,508 S 4,329,892 S 4,099,934
S 388,440 $ 0 S 1,077,000 S 0 S 1,920,440 $ 2,550,391
385,992 578,692 603,335 0 2,302,932 2,029,878
S 774,432 S 578,692 S 1,680,335 $ 0 S 4,223,372 $ 4,580,269
$ (38,590) S (21,840) S 133,398 S 52,508 S 106,520 $ (480,335)
$ 0 E 0 $ 0 $ 0 S 0 $ 4,969,605
76,146 0 0 0 76,146 0
0 0 0 0 0 (227)
0 0 0 0 0 (4,674,200)
$ 76,146 S 0 S 0 $ 0 $ 76,146 $ 295,178
$ 37,556 S (21,840) S 133,398 S 52,508 S 182,666 S (185,157)
89,187 31,853 483,657 630,151 1,944,978 2,130,135
0 0 0 0 0 46,836
0 0 0 0 0 (46,836)
S 126,743 S 10,013 S 617,055 E 682,659 S 2,127,644 $ 1,944,978
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City of Renton 1990 CAFR
DEBT SERVICE FUNDS Page 1 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual ,
Totals for Year Ended December 31, 1989
1978 LIMITED GENERAL OBLIGATION BOND
VARIANCE '
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 71,270 $ 69,770 $ (1,500) $ 68,230 '
Intergovernmental Revenues ......................... 0 0 0 0
Special. Assessments ................................ 0 0 0 0
Interest ........................................... 2,000 694 (1,306) 2,192
TOTAL REVENUES ....................................... $ 73,270 $ 70,464 $ (2,806) $ 70,422 '
EXPENDITURES
Debt Service:
Principal Retirement ............................. $ 45,000 $ 45,000 $ 0 $ 45,000 '
Interest & Fiscal Charges ........................ 27,415 27,415 0 29,688
TOTAL EXPENDITURES ................................... $ 72,415 $ 72,415 $ 0 $ 74,688
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 855 $ (1,951) $ (2,806) $ (4,266) '
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) .......................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 0 S 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 855 $ (1,951) $ (2,806) $ (4,266)
FUND BALANCE JANUARY 1 ............................... 58,426 60,124 1,698 64,390 '
Residual Equity Transfers In (Out) ................ 0 0 0 0
FUND BALANCE DECEMBER 31 ............................. $ 59,281 $ 58,173 $ (1,108) $ 60,124
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City of Renton 1990 CAFR
Page 2 of 6
1989 LIMITED GENERAL OBLIGATION REFUNDING BOND 1983 UNLIMITED GENERAL OBLIGATION REFUNDING BOND
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 296,112 $ 296,112 $ 0 $ 299,088 $ 762,900 $ 764,071 S 1,171 $ 786,854
0 0 0 0 0 0 0 96
0 0 0 0 0 0 0 0
3,000 2,780 (220) 9,695 35,000 37,530 2,530 44,210
$ 299,112 $ 298,892 $ (220) $ 308,783 $ 797,900 $ 801,601 $ 3,701 $ 831,160
$ 120,000 $ 120,000 $ 0 $ 85,000 $ 290,000 $ 290,000 $ 0 $ 270,000
176,361 176,233 128 242,361 531,265 531,265 0 554,728
$ 296,361 $ 296,233 $ 128 $ 327,361 $ 821,265 $ 821,265 $ 0 $ 824,728
$ 2,751 $ 2,659 $ (92) $ (18,578) S (23,365) $ (19,664) $ 3,701 $ 6,432
$ 0 $ 0 $ 0 $ 2,085,000 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 (2,031,000) 0 0 0 0
$ 0 $ 0 $ 0 $ 54,000 $ 0 $ 0 $ 0 $ 0
$ 2,751 $ 2,659 $ (92) $ 35,422 $ (23,365) $ (19,664) $ 3,701 $ 6,432
38,930 40,136 1,206 4,714 597,484 609,870 12,386 603,438
0 0 0 0 0 0 0 0
$ 41,681 $ 42,795 $ 1,114 $ 40,136 $ 574,119 $ 590,206 $ 16,087 $ 609,870
- 55
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City of Renton 1990 CAFR '
DEBT SERVICE FUNDS Page 3 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual '
Totals for Year Ended December 31, 1989
GENERAI G0VERNMENT MISCELLANEOUS DEBT
VARIANCE ,
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 754,576 $ 731,508 $ (23,068) $ 694,294 '
Intergovernmental Revenues ......................... 0 0 0 0
Special Assessments ................................ 0 0 0 0
Interest ........................................... 30,000 4,334 (25,666) 28,951
TOTAL REVENUES ....................................... $ 784,576 $ 735,842 $ (48,734) $ 723,245 '
EXPENDITURES
Debt Service:
Principal Retirement ............................. $ 423,047 $ 388,440 $ 34,607 $ 352,670 '
Interest & Fiscal Charges 411,842 385,992 25,850 336,876
TOTAL EXPENDITURES ................................... $ 834,889 $ 774,432 $ 60,457 $ 689,546
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (50,313) $ (38,590) $ 11,723 $ 33,699
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers In ............................. 76,146 76,146 0 0 '
Operating Transfers (Out) .......................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 76,146 $ 76,146 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES '
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 25,833 $ 37,556 $ 11,723 $ 33,699
FUND BALANCE JANUARY 1 ............................... 75,815 89,187 13,372 55,488
Residual Equity Transfers In (Out) ................ 0 0 0 0 ,
FUND BALANCE DECEMBER 31 ............................. $ 101,648 $ 126,743 $ 25,095 $ 89,187
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- 56 - -- - ,
City of Renton 1990 CAFR
Page 4 of 6
1989 UNLIMITED GENERAL OBLIGATION BOND SPECIAL ASSESSMENT DEBT SERVICE FUND
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 563,198 $ 556,852 $ (6,346) $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 986,608 1,019,930 33,322 1,089,644
0 0 0 31,853 775,192 793,803 18,611 1,002,195
$ 563,198 $ 556,852 $ (6,346) $ 31,853 $ 1,761,800 $ 1,813,733 $ 51,933 $ 2,091,839
$ $ $ $ $
$ 0 $ 0 $ 0 $ 0 $ 1,108,000 $ 1,077,000 $ 31,000 $ 1,797,721
578,287 578,692 (405) 0 613,800 603,335 10,465 866,225
$ 578,287 $ 578,692 $ (405) $ 0 $ 1,721,800 $ 1,680,335 $ 41,465 $ 2,663,946
$ (15,089) $ (21,840) $ (6,751) $ 31,853 S 40,000 $ 133,398 $ 93,398 $ (572,107)
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 2,884,605
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 (227)
0 0 0 0 0 0 0 (2,643,200)
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 241,178
$ (15,089) $ (21,840) $ (6,751) $ 31,853 $ 40,000 $ 133,398 $ 93,398 $ (330,929)
15,089 31,853 16,764 0 304,514 483,657 179,143 819,695
0 0 0 0 0 0 0 (5,109)
$ 0 $ 10,013 $ 10,013 $ 31,853 $ 344,514 $ 617,055 $ 272,541 $ 483,657
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.N 57 l
City of Renton 1990 CAFR
DEBT SERVICE FUNDS Page 5 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
SPECIAL ASSESSMENT GUARANTY FUND
VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 $ 0 $ 0 '
Intergovernmental Revenues ......................... 0 0 0 0
Special Assessments ................................ 0 0 0 0
Interest ........................................... 35,000 52,508 17,508 42,632
TOTAL REVENUES ....................................... $ 35,000 $ 52,508 $ 17,508 $ 42,632 '
1 EXPENDITURES
j Debt Service:
Principal Retirement ............................. $ 0 $ 0 $ 0 $ 0 '
interest & Fiscal Charges ........................ 0 0 0 0
TOTAL EXPENDITURES ................................... $ 0 $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 35,000 $ 52,508 $ 17,508 $ 42,632 '
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0 '
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) .......................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... 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 ................ $ 35,000 $ 52,508 $ 17,508 $ 42,632
FUND BALANCE JANUARY 1 ............................... 608,410 630,151 21,741 582,410 '
Residual Equity Transfers In (Out) ................. 0 0 0 5,109
FUND BALANCE DECEMBER 31 ............................. $ 643,410 $682,659 $ 39,249 $ 630,151
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Y City of Renton 1990 CAFR
Page 6 of 6
TOTALS
µ VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 2,448,056 $ 2,418,313 $ (29,743) $ 1,848,466
0 0 0 96
986,608 1,019,930 33,322 1,089,644
880,192 891,649 11,457 1,161,728
$ 4,314,856 $ 4,329,892 $ 15,036 $ 4,099,934
$ 1,986,047 $ 1,920,440 $ 65,607 $ 2,550,391
2,338,970 2,302,932 36,038 2,029,878
$ 4,325,017 $ 4,223,372 $ 101,645 $ 4,580,269
$ (10,161) $ 106,520 $ 116,681 $ (480,335)
$ 0 $ 0 $ 0 $ 4,969,605
76,146 76,146 0 0
0 0 0 (227)
0 0 0 (4,674,200)
$ 76,146 $ 76,146 $ 0 $ 295,178
$ 65,985 $ 182,666 $ 116,681 $ (185,157)
1,698,668 1,944,978 246,310 2,130,135
0 0 0 0
$ 1,764,653 $ 2,127,644 $ 362,991 $ 1,944,978
59
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City of Renton 1990 CAFR
CAPITAL PROJECT FUNDS
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.
' STREET FORWARD THRUST FUND-Provides funding to
improve streets that are included in the King County Forward
Thrust Resolution.
OPEN SPACE CAPITAL IMPROVEMENT FUND -
Accounts for open space bond funds received from King
County. The bond funds were approved by voters in the fall of
1989 and available for use in May,1990. The proceeds are used
for Honey Creek Trail, Springbrook Trail, Cedar River Trail
and Lake Washington Waterfront projects.
MUNICIPAL FACILITIES CONSTRUCTION FUND -
Accounts for the acquisition and development of municipal
facilities including a new City Shop (completed in 1984), Park
Administrative offices (City Hall Annex, completed in 1981),
and a Fire Training Site. Resources included general revenues
and a Council-approved general obligation bond issue.
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,1/4%Real Estate Transfer Tax,and
transfers from various cumulative reserve funds.
SENIOR HOUSING CONSTRUCTION FUND - Accounts
for the acquisition, construction, rehabilitation, development,
and equipment purchases of low income housing and facilities
for the elderly. Resources are from a 1989 voter-approved
' general obligation bond issue.
SPECIAL ASSESSMENT CONSTRUCTION FUND - This
fund accounts for the construction phase of all Special
Assessment local improvement districts (LID) located within
the City. The primary resource for this activity is short-term
debt or interfund loans which are repaid with permanent
financing once the construction of the LID is complete.
-- 61
City of Renton 1990 CAFR -- ---.--- '
FCAPITAL PROJECT FUNDS Page 1 of 2 ,
COMBINING BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989 OPEN SPACE MUNICIPAL SENIOR
CAPITAL FACILITIES CAPITAL HOUSING '
IMPROVEMENT CONSTRUCTION IMPROVEMENT CONSTRUCTION
ASSETS:
Cash and Cash Equivalents ........................ S 15,742 $ 44,543 $ 13,565 S 66,793
Investments ...................................... 100,000 0 2,498,500 5,739,335 '
Receivables, net of Allowance for Uncollectibles:
Taxes .......................................... 0 0 0 0
Interest on Investments ........................ 0 0 43,123 80,074
Due From Other Funds ............................. 0 0 159,842 0 '
Due From Other Governmental Units ................ 3,478 0 109,260 0
TOTAL ASSETS ....................................... $ 119,220 $'' 44,543 $ 2,824,290 $ 5,886,202'
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers Payable ............................... $ 1,985 S 0 $ 66,338 $ 25,418
Judgments/Annuities/Contracts Payable .......... 0 0 56,796 0
Due To Other Funds ............................. 0 0 0 0
Due To Other Governmental Units ... 0 0 150,360 0 '
Accrued Employee leave Benefits ... 0 0 0 2,360
:TOTAL LIABILITI>*S $ 1,985 S 0 S 273;494 ...Ia 27,77$;:
FUND EQUITY: '
Fund Balance:
Reserved For Arbitrage Rebate ................ $ 0 $ 0 $ 36,561 $ 197,210
Unreserved - Undesignated .................... 117,235 44,543 2,514,235 5,661,214
T07ALFU1� I:al1I t1f ]1116 0t11BR GREG ITS ................ $ 117,235 3 44,543 $ 2,550,796 $ 5,858,424. ,
TQTAL LIASI(.IT`I8S AND`FUN 1QUITY .................. $ 119,220 $ 44,543 $ 2,824,290 >$:.5,8$6,2Q2:
62 — '
City of Renton 1990 CAFR
Page 2 of 2
SPECIAL TOTALS
ASSESSMENT
CONSTRUCTION 1990 1989
S 48,443 S 189,086 S 1,748,393
375,000 8,712,835 7,242,123
0 0 127,349
4,891 128,088 132,747
0 159,842 86,750
0 112,738 27,344
$ 428,334 S 9,302,589 S 9,364,706
$ 4,505 S 98,246 S 541,037
0 56,796 43,165
0 0 110,659
0 150,360 0
0 2,360 2,334
S 4,505 S 307,762 S 697,195
S 0 $ 233,771 $ 154,018
423,829 8,761,056 8,513,493
S 423,829 $ 8,994,827 S 8,667,511
S 428,334 S 9,302,589 $ 9,364,706
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City of Renton 1990 CAFR
CAPITAL PROJECT FUNDS Page 1 of 2
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
STREET OPEN SPACE MUNICIPAL
FORWARD CAPITAL FACILITIES
THRUST IMPROVEMENT CONSTRUCTION
REVENUES
Taxes .............................................. S 0 S 0 S 0
Licenses And Permits ............................... 0 0 0
Intergovernmental Revenues ......................... 0 405,359 0
Charges For Services ............................... 0 0 0
Interest ........................................... 9,438 0 13,641
Miscellaneous Revenues ............................ 0 0 0
TOTAL REVENUES ....................................... S 9,438 S 405,359 $ 13,641
EXPENDITURES
Current:
Transportation ................................... $ 840 $ 0 $ 0
Capital Outlay ..................................... 0 288,011 251,566
Debt Service:
Principal Retirement ............................. 0 0 0
Interest & Fiscal Charges ....................... 0 113 0
TOTAL EXPENDITURES .................................. $ 840 S 288,124 $ 251,566
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 8,598 $ 117,235 $ (237,925)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 S 0 $ 0
OperatingTransfers In ............................. 0 0 0
Operating Transfers (Out) .......................... 0 0 (76,146)
Sale Of General Fixed Assets ...................... 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 0 S 0 $ (76,146)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 8,598 $ 117,235 $ (314,071)
FUND BALANCE JANUARY 1 ............................... 137,401 0 358,614
Residual Equity Transfers In ....................... 0 0 0
Residual Equity Transfers Out ...................... (145,999) 0 0
FUND BALANCE DECEMBER 31 $ 0 $ 117,235 S 44,543
64
City of Renton 1990 CAFR
Page 2 of 2
SENIOR SPECIAL TOTALS
CAPITAL HOUSING ASSESSMENT
IMPROVEMENT CONSTRUCTION CONSTRUCTION 1990 1989
S 171,351 S 0 S 0 S 171,351 S 640,571
2,211,314 0 0 2,211,314 2,143,380
327,044 0 0 732,403 155,727
636 0 0 636 275
210,090 486,003 37,849 757,021 721,133
102,010 0 0 102,010 116,682
S 3,022,445 S 486,003 S 37,849 S 3,974,735 S 3,777,768
S 1,677,129 S 0 S 57,482 S 1,735,451 S 2,567,190
1,469,591 328,095 0 2,337,263 2,748,921
0 0 0 0 600,000
0 0 48,020 48,133 203,414
S 3,146,720 S 328,095 S 105,502 S 4,120,847 S 6,119,525
$ (124,275) S 157,908 S (67,653) S (146,112) S (2,341,757)
S 549,574 $ 0 $ 0 S 549,574 S 7,381,300
0 0 0 0 206,838
0 0 0 (76,146) 0
0 0 0 0 86,500
S 549,574 S 0 $ 0 $ 473,428 S 7,674,638
S 425,299 S 157,908 $ (67,653) S 327,316 S 5,332,881
1,979,498 5,700,516 491,482 8,667,511 3,334,630
145,999 0 0 145,999 0
0 0 0 (145,999) 0
S 2,550,796 S 5,858,424 S 423,829 $ 8,994,827 $ 8,66 511
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City of Renton 1990 cnr-x .�
7
CAPITAL PROJECTS FUNDS Page 1 of 5
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
STREET 'FORWARD THRUST
VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. S 0 S 0 S 0 S 0
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 0 0 0 0
ChargesFor Services ............................... 0 0 0 0
Interest ........................................... 4,268 9,438 5,170 11,385
Miscellaneous Revenues ............................ 0 0 0 0
TOTAL 2EVENUES .................................. S 4,268 S 9,438 $ 5,170 $ 11,385
EXPENDITURES
Current:
Transportation ................................... $ 839 $ 840 $ (1) S (5,490)
Capital Outlay ..................................... 0 0 0 0
Debt Service:
Principal Retirement ............................. 0 0 0 0 ,
Interest 8 Fiscal Charges ....................... 0 0 0 0
TOTAL EXPENDITURES .................................. S 839 S 840 $ (1) $ (5,490)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... S 3,429 $ 8,598 $ 5,169 S 16,875 '
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 S 0 S 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) ................. S 0 S 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S 3,429 S 8,598 S 5,169 S 16,875
FUND BALANCE JANUARY 1 ............................... 137,401 137,401 0 120,526
Residual Equity Transfers In (Out) ................. (140,830) (145,999) (5,169) 0
FUND .MANCE DECEMBER 31 ............................ $ 0 $ 0 S 0 S 137,401
City of Renton 1990 CAFR
' Page 2 of 5
ii
OPEM.SPACE CAPITAL IMPROVEMENT MUNICIPAL FACILITIES CONSTRUCTION
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL -(UNFAVORABLE> ACTUAL BUDGET ACTUAL cUNFAVORABLE> ACTUAL
S 0 S 0 S 0 S 0 S 0 E 0 $ 0 $ 0
0 0 0 0 0 0 0 0
3,120,794 405,359 (2,715,435) 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 9,953 13,641 3,688 30,923
0 0 0 0 0 0 0 0
$ 3,120,794 S 405,359 $ (2,715,435) S 0 S 9,953 $ 13,641 S 3,688 S 30,923
S 0 S 0 S 0 $ 0 S 0 S 0 S 0 $ 0
3,120,794 288,011 2,832,783 0 292,420 251,566 40,854 399
0 0 0 0 0 0 0 0
0 113 (113) 0 0 0 0 0
S 3,120,794 $ 288,124 $ 2,832,670 $ 0 S 292,420 S 251,566 4 40,854 $ 399
$ 0 $ 117,235 $ 117,235 $ 0 4(282,467) S(237,925) S 44,542 $ 30,524
$ 0 S 0 4 0 $ 0 S 0 4 0 $ 0 $ 0
0 0 0 0 0 0 0 0
0 0 0 0 (76,146) (76,146) 0 0
0 0 0 0 0 0 0 0
$ 0 S 0 4 0 $ 0 $ (76,146) $ (76,146) $ 0 $ 0-
$ 0 4 117,235 S 117,235 S 0 S(358,613) S(314,071) S 44,542 $ 30,524
0 0 0 0 358,613 358,614 1 328,090
0 0 0 0 0 0 0 0
$ 0 4 117,235 S 117,235 $ 0 S 0 S 44,543 S 44,543 S 358,614
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67
City of Renton 1990 CAFR
CAPITAL PROJECTS FUNDS Page 3 of 5
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
CAPITAL IMPROVEMENTS
VARIANCE
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. S 317,000 S 171,351 S (145,649) $ 640,571
Licenses And Permits ............................... 2,228,000 2,211,314 (16,686) 2,143,380
Intergovernmental Revenues ......................... 740,572 327,044 (413,528) 155,727
Charges For Services ............................... 0 636 636 275
Interest ........................................... 170,000 210,090 40,090 196,990
Miscellaneous Revenues ............................ 67,010 102,010 35,000 116,682
TOTAL REVENUES ...................................... $ 3,522,582 S 3,022,445 S (500,137) S 3,253,625
EXPENDITURES
Current:
jTransportation ................................... S 3,884,638 S 1,677,129 S 2,207,509 S 2,519,221
Capital Outlay ..................................... 2,350,069 1,469,591 880,478 2,664,894
Debt Service:
Principal Retirement ............................. 0 0 0 0
Interest 8 Fiscal Charges ........................ 32,581 0 32,581 15,637
TOTAL EXPENDITURES ................................... S 6,267,288 $ 3,146,720 S 3,120,568 $ 5,199,752
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $(2,744,706) S (124,275) S 2,620,431 S(1,946,127)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... S 0 S 549,574 $ 549,574 S 1,281,300
Operating Transfers In ............................. 0 0 0 206,611
Operating Transfers (Out) .......................... 0 0 0 0
Sale Of General Fixed Assets ....................... 835,000 0 (835,000) 86,500
TOTAL OTHER FINANCING SOURCES (USES) ................. S 835,000 $ 549,574 S (285,426) S 1,574,411
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $(1,909,706) S 425,299 $ 2,335,005 S (371,716)
FUND BALANCE JANUARY 1 ............................... 1,810,997 1,979,498 168,501 2,351,214
Residual Equity Transfers In (Out) ................. 139,954 145,999 6,045 0
FUND BALANCE DECEMBER 31 ............................. S 41,245 S 2,550,796 $ 2,509,551 S 1,979,498
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City of Renton 1990 CAFR
Page 4 of 5
SENIOR HOUSING CONSTRUCTION FUND SPECIAL ASSESSMENT CONSTRUCTION FUND
VARIANCE VARIANCE
FAVORABLE 1989 FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
S 0 f 0 f 0 f 0 S 0 S 0 S 0 S 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
375,198 486,003 110,805 421,137 35,000 37,849 2,849 60,698
0 0 0 0 0 0 0 0
S 375,198 S 486,003 S 110,805 S 421,137 S 35,000 S 37,849 S 2,849 S 60,698
S 0 S 0 S 0 $ 0 S 0 S 57,482 $ (57,482) S 53,459
5,859,989 328,095 5,531,894 83,628 0 0 0 0
0 0 0 0 600,000 0 600,000 600,000
121,438 0 121,438 136,993 52,000 48,020 3,980 50,784
S 5,981,427 S 328,095 S 5,653 332 S 220,621 S 652,000 S 105,502 S 546,498 S 704,243
S (5,606,229) $ 157,908 S 5,764,137 S 200,516 S (617,000) S (67,653) S 549,347 S (643,545)
$ 0 $ 0 S 0 S 5,500,000 S 600,000 S 0 S (600,000) S 600,000
0 0 0 0 0 0 0 227
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 0 S -0 $ 0 $ 5,500,000 $ 600,000 S 0 S (600,000) $ 600,227
S (5,606,229) S 157,908 S 5,764,137 S 5,700,516 S (17,000) S (67,653) S (50,653) S (43,318)
5,606,229 5,700,516 94,287 0 93,669 491,482 397,813 534,800
0 0 0 0 0 0 0 0
$ 0 $ 5,858,424 S 5,858,424 $ 5,700,516 $ 76,669 $ 423,829 S 347,160 $ 491,482
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- -- ---- - - 69 --- - ---- �i
City of Renton 1990 CAFR
CAPITAL PROJECTS FUNDS Page 5 of 5
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1990, With Comparative Actual
Totals for Year Ended December 31, 1989
TOTALS
VARIANCE w
FAVORABLE 1989
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
w
REVENUES
Taxes .............................................. $ 317,000 S 171,351 S (145,649) S 640,571
Licenses And Permits ............................... 2,228,000 2,211,314 (16,686) 2,143,380 w
Intergovernmental Revenues ......................... 3,861,366 732,403 (3,128,963) 155,727
Charges For Services ............................... 0 636 636 275
Interest ........................................... 594,419 757,021 162,602 721,133
Miscellaneous Revenues ............................. 67,010 102,010 35,000 116,682
TOTAL REVENUES ....................................... S 7,067,795 $ 3,974,735 $(3,093,060) $ 3,777,768
EXPENDITURES
Current:
Transportation ................................... $ 3,885,477 $ 1,735,451 S 2,150,026 S 2,567,190
Capital Outlay ..................................... 11,623,272 2,337,263 9,286,009 2,748,921
Debt Service:
Principal Retirement ............................. 600,000 0 600,000 600,000
Interest & Fiscal Charges ........................ 206,019 48,133 157,886 203,414
TOTAL EXPENDITURES ................................... S 16,314,768__,,.$;...4,120,847 512,193,921 $ 6,119,525
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... S (9,246,973) S (146,112) $ 9,100,861 $ (2,341,757)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... S 600,000 S 549,574 $ (50,426) S 7,381,300
Operating Transfers In ............................. 0 0 0 206,838
Operating Transfers (Out) .......................... (76,146) (76,146) 0 0
Sale Of General Fixed Assets ...................... 835,000 0 (835,000) 86,500
TOTAL OTHER FINANCING SOURCES (USES) ................. $ 1,358,854 $ 473,428 $ (885,426) S 7,674,638
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S (7,888,119) $ 327,316 $ 8,215,435 S 5,332,881
FUND BALANCE JANUARY 1 ............................... 8,006,909 8,667,511 660,602 3,334,630
Residual Equity Transfers In (Out) ................. (876) 0 876 0
FUND BALANCE DECEMBER 31 ............................. $ 117,914 $ 8,994,827 S 8,876,913 $ 8,667,511
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70 - — ,
e
LCity of Renton 1990 CAFR
ENTERPRISE FUNDS
Enterprise funds are established for government activities that
are financed and operate in a manner similar to private
business. Costs of providing services to the general public are
primarily financed by user fees.
lr
WATER/SEWER UTILITY FUND - Accounts for the
operation and capital improvement programs for the water,
sanitary sewer and 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-Wiley Post Memorial
Seaplane Base. Sources of support to the fund are leases,fuel
charges,investment interest,and grant funding as available.
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SOLID WASTE UTILITY FUND - Garbage collection
services for the City are accounted for in this fund, supported
almost entirely by garbage collection fees. Expenses include
payment to the City's garbage contractor and other service
charges.
GOLF COURSE FUND -The City acquired the Maplewood
Golf Course in 1985 and this fund was created to account for
the operation, maintenance, debt service, and capital
improvements of this municipal facility. User fees provide for
operation and Council-approved general obligation bond
proceeds financed acquisition and improvements.
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71
City of Renton 1990 CAFR
ENTERPRISE FUNDS Page 1 of 2 '
COMBINING BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989 WATER/SEWER AIRPORT SOLID WASTE
UTILITY UTILITY ,
ASSETS:
Current Assets:
Cash and Cash Equivalents ............................ $ 41,695 $ 59,166 $ 19,869
Cash With Fiscal Agent ............................. 651 0 0 '
Investments ........................................ 1,820,864 473,332 125,000
Receivables, net of Allowance for Uncollectibles:
Accounts ......................................... 1,178,626 6,870 865,379
Interest on Investments .......................... 176,588 4,804 853 '
Due From Other Funds ............................... 42,708 256 3,605
Due From Other Governmental Units .................. 90,546 83,633 0
Inventory of Material and Supplies ................. 259,989 0 0
Prepaid Items ..................................... 0 3,938 0
Total Current Assets.............................. 3,611,667 631,999 1,014,706
Restricted Assets:
Deposits ........................................... 25,774 0 0
Revenue Bond Debt Service .......................... 2,129,423 90,021 0 '
Construction Account .............................. 7,554,548 0 0
Total Restricted Assets........................... 9,709,745 90,021 0
Property, Plant and Equipment:
Fixed Assets (Net) ................................. 72,625,578 3,601,083 11,423
Construction In Progress ........................... 2,951,874 0 0 '
Total Property, Plant and Equipment............... 75,577,452 3,601,083 11,423
Deferred Charges and Other Assets .................. 208,000 0 0
TOTAL ASSETS ........................................ S 89,106,864 $4,323,103 S 1,026,129 '
LIABILITIES AND FUND EQUITY: '
LIABILITIES:
Current Liabilities:
Vouchers Payable ................................. $ 281,600 $ 3,572 $ 25,133 '
Judgments/Annuities/Contracts Payable ............ 20,972 0 312,191
Due To Other Funds ............................... 172,501 0 3,035
Interfund Loans/Advances - Current ............... 0 0 0
Due To Other Governmental Units .................. 903,648 0 0
Matured Interest Payable ......................... 651 0 0 ,
Accrued Interest Payable ......................... 305,355 2,188 0
Accrued Wages Payable ............................ 19,508 1,616 0
Accrued Taxes Payable ............................ 150 9,545 16,452
Deferred Revenues ............................... 33,899 3,145 0 '
Total Current Liabilities....................... 1,738,284 20,066 356,811
Liabilities Payable from Restricted Assets:
Deposits Payable ................................. 25,774 0 0
General Obligation Bonds Payable - Current ....... 42,240 0 0 '
Revenue Bonds Payable - Current Portion .......... 790,000 45,000 0
Total Liabilities Payable From Restricted Assets 858,014 45,000 0
Long Term Liabilities:
General Obligation Bonds Payable ................. 620,495 0 0 ,
Unamortized Discounts on G.O. Bond ............... (22,665) 0 0
Revenue Bonds Payable ............................ 18,955,000 95,000 0
Unamortized Discounts on Revenue Bond ............ (466,463) (2,160) 0
Accrued Employee Leave Benefits .................. 128,331 7,033 123 ,
Interfund Loans/Advances - Non-Current ........... 0 0 0
Arbitrage Rebate Tax Payable ................... 6,387 0 0
Total Long Term Liabilities..................... 19,221,085 99,873 123
TOTAL LIABILITIES ...................................... $2%817 383 $' 164,939 $ 356,934 ,
FUND EQUITY:
Contributed Capital ................................ $ 60,808,552 $1,479,442 $ 0
Retained Earnings:
Reserved For Debt Service ........................ 1,374,340 54,083 0 '
Unreserved ....................................... 5,106,589 2,624,639 669,195
TOTAL FUND EQUITY AND OTHER CREDITS ................. S 67,289,481 _$4,158,164 $ 669,195
TOTAL LIABILITIES AND FUND EQUITY ...................... S 89,106,864 S 4,323,103 $ 1,026,129
72
City of Renton 1990 CAFR
Page 2 of 2
TOTALS
GOLF
COURSE 1990 1989
$ 30,130 S 150,860 $ 1,280,601
0 651 3,867
50,000 2,469,196 206,990
815 2,051,690 1,760,320
0 182,245 68,777
127,140 173,709 237,036
5,764 179,943 107,531
0 259,989 174,133
0 3,938 3,938
213,849 5,472,221 3,843,193
0 25,774 17,070
0 2,219,444 1,904,430
0 7,554,548 4,223,458
- 0 9,799,766 6,144,958
4,332,583 80,570,667 74,016,998
44,215 2,996,089 6,523,205
4,376,798 83,566,756 80,540,203
0 208,000 224,000
$4,590,647 $ 99,046,743 S 90,752,354
$ 28,719 $ 339,024 S 216,837
10,609 343,772 455,666
0 175,536 148,195
82,657 82,657 169,861
0 903,648 0
0 651 3,867
20,292 327,835 400,371
2,779 23,903 18,395
4,174 30,321 28,840
0 37,044 22,688
149,230 2,264,391 1,464,720
0 25,774 17,070
213,120 255,360 242,060
0 835,000 745,000
213,120 1,116,134 1,004,130
3,132,725 3,753,220 4,008,580
(91,755) (114,420) (124,442)
0 19,050,000 15,785,000
0 (468,623) (420,509)
13,682 149,169 159,444
138,782 138,782 180,939
0 6,387 6,101
3,193,434 22,514,515 19,595,113
$3,555,784 $ 25,895,040 S 22,063,963
S 5,000 $ 62,292,994 $ 60,057,637
0 1,428,423 1,197,564
1,029,863 9,430,286 7,433,190
S 1,034,863 $ 73,151,703 S 68,688,391
$4,590,647 S 99,046,743 S 90,752,354
73
City of Renton 1990 CAFR '
ENTERPRISE FUNDS Page 1 of 2 '
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1990 '
With Comparative Totals for Year Ended December 31, 1989
WATER/SEWER AIRPORT SOLID WASTE
UTILITY UTILITY '
OPERATING REVENUES:
Charges for Services ........................... S 10,691,663 $ 368,943 $ 5,021,849 '
Other Operating Revenue ........................ 55,219 6,711 0
TOTAL OPERATINGi`RMME .......................... $ 10,746,882 $ 375,654 $ 5,021,849
OPERATING EXPENSES: '
Operations and Maintenance ..................... S 6,318,010 S 146,133 $ 4,350,407
Administrative and General ..................... 888,375 61,739 0
Insurance ...................................... 0 10,018 0 '
Taxes .......................................... 722,030 0 332,688
Depreciation ................................. 1,513,023 205,014 0
TOTAL OPERATING EXPENSES $ 9,441,438 $ 422,904 $ 4,683,095
OPERATING INCOME (LOSS) S 1,305,444 $ (47,250) $ 338,754 '
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... S 640,301 S 44,055 $ 23,755 '
Other Non-operating Revenue .................... 59,654 88,378 41,000
Interest Expense ............................... (1,171,216) (9,370) (6,101)
Arbitrage Expense .............................. (286) 0 0
Amortization of Debt Discount and Expense ..... (32,434) (926) 0 ,
NON-OPERATING REVENUE NET OF EXPENSES ............ $ (503,981) S 122,137 S 58,654
INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... S 801,463 $ 74,887 $ 397,408
OPERATING TRANSFERS IN .......................... 0 0 0
OPERATING TRANSFERS OUT .......................... 0 0 0 '
NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM ...... S 801,463 $ 74,887 $ 397,408
EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 0 0 0
NET INCOME (LOSS) ................................ $ 801,463 $ 74,887 $ 397,408 '
Depreciation Reducing Grant Contributed Capital. 0 118,765 0
INCREASE (DECREASE) IN RETAINED EARNINGS ......... $ 801,463 S 193,652 S 397,408
RETAINED EARNINGS, JANUARY 1 ..................... $ 5,140,039 $ 2,485,070 S 271,787 '
Prior Period Corrections ....................... 539,427 0 0
RETAINED EARNINGS, JANUARY 1, RESTATED ........... S 5,679,466 S 2,485,070 $ 271,787
RETAINED EARNINGS, DECEMBER 31 ................... $ 6,480,929 $ 2,678,722 $ 669,195
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 58,454,430 $ 1,598,207 S 0 '
Capital Grants ............................... 504,178 0 0
Amortization on Capital Grants ............... 0 (118,765) 0 '
Other Contributed Capital .................... 1,849,944 0 0
CONTRIBUTED CAPITAL, DECEMBER 31 ................. $ 60,808,552 $ 1,479,442 $ 0
FUND EQUITY, DECEMBER 31 ......................... $ 67,289,481 $ 4,158,164 $ 669,195
City of Renton 1990 CAFR
Page 2 of 2
TOTALS
GOLF
COURSE 1990 1989
E 651,705 S 16,734,160 S 13,979,089
15,043 76,973 82,396
$ 666,748 S 16,8,10133 S 14,061,485
" S 476,988 S 11,291,538 $ 9,913,974
0 950,114 556,523
0 10,018 15,779
3,127 1,057,845 974,567
g 21,721 1,739,758 1,583,199
$ 501,836 S 15,049,273 S 13,044,042
S 164,912 S 1,761,860 S 1,017,443
S 12,034 S 720,145 S 667,113
24,040 213,072 94,313
(272,973) (1,459,660) (1,358,821)
0 (286) (6,101)
(8,037) (41,397) (46,179)
S (244,936) S (568,126) S (649,675)
S (80,024) $ 1,193,734 $ 367,768
376,029 376,029 379,712
0 0 0
$ 296,005 S 1,569,763 S 747,480
0 0 363,465
$ 296,005 S 1,569,763 S 384,015
0 118,765 79,953
S 296,005 S 1,688,528 S 463,968
S 733,858 $ 8,630,754 S 8,166,786
0 539,427 0
S 733,858 S 9,170,181 S 8,166,786
S 1,029,863 $ 10,858,709 $ 8,630,754
S 5,000 S 60,057,637 S 57,064,968
0 504,178 1,015,945
0 (118,765) (79,953)
0 1,849,944 2,056,677 I
S 5,000 S 62,292,994 S 60,057,637
S 1,034,863 S 73,151,703 S 68,688,391
75 J
City of Renton 1990 CAFR '
ENTERPRISE FUNDS Page 1 of 4 1
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
WATER/SEWER AIRPORT SOLID WASTE 1
UTILITY UTILITY
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers and Users ....................... $ 10,531,878 S 368,568 $ 4,800,504
Cash Payments to Suppliers ................................... (6,052,395) (103,741) (4,633,487)
Cash Payments to Employees ................................... (1,854,654) (121,508) (54,413)
Other Operating Receipts ..................................... 55,219 6,711 0
Prior Period Correction ..................................... 603,474 0 0
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES $ 3,283,522 $ 150,030 $ 312,604
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Proceeds From Interfund Loans ................................ S 0 $ 0 $ 0
Advances From (To) Other Funds ............................... 0 0 0
Operating Grants Received .................................... 33,513 0 99,000
Operating Transfers From Other Funds ......................... 0 0 0
Other Non-Operating Receipts .............................. 47,675 3,506 0 '
Repayments on Interfund Loans ............................... 0 0 (103,901)
NET CASH PROVIDED (USED) BY 4ONCAPITAL FINANCING ACTIVITIES .... $ 81,188 $ 3,506 $ (4,901)
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: '
Proceeds From Sale of Bonds .................................. S 4,020,511 $ 0 $ 0
Acquisition and Construction of Capital Assets ............... (2,502,744) (76,652) (11,423)
Capital Contributions ........................................ 631,541 0 0
Capital Grants ............................................... 655,586 4,137 0
Principal Payments on Bonds .................................. (745,040) (40,000) 0
Principal Payments on Installment Purchase Contract .......... 0 0 0
Interest Payments on Bonds ......................... (1,207,183) (9,989) 0
Bonds ...................................
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES ....... S 852,671 $ (122,504) $ (11,423)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net Investment Activit $ (1,713,874) $ (373,332) $ (125,000)
Interest on Investments ...................................... 528,644 43,097 22,902
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ............... S (1,185,230) $ (330,235) $ (102,098)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ........... S 3,032,151 S (299,203) $ (5,818)
CASH AND CASH EQUIVALENTS, JANUARY 1 ........................... 6,719,289 448,390 25,687
CASH AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 9,751,440 S 149,187 $ 19,869
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Residual Investments ................................ $ 41,695 $ 59,166 $ 19,869
Cash Restricted for:
Deposits ................................................... 25,774 0 0 '
Revenue Bond Debt Service .................................. 2,129,423 90,021 0
Construction Account ...................................... 7,554,548 0 0
TOTAL CASH AT THE END OF THE YEAR .............................. S 9,751,440 $ 149,187 $ 19,869
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76 — 1
City of Renton 1990 CAFR
Page 2 of 4
TOTALS
GOLF
COURSE 1990 1989
E 665,311 S 16,366,261 S 13,781,250
(252,981) (11,042,604) (9,418,858)
(210,101) (2,240,676) (2,190,706)
15,043 76,973 82,310
0 603,474 0
$ 217,272 S 3,763,428 S 2,253,996
S 4,470 $ 4,470 S 169,861
36,030 36,030 180,939
18,276 150,789 20,000
372,000 372,000 376,737
0 51,181 36,313
(93,566) (197,467) 0
$ 337,210 S 417,003 S 783,850
S 0 S 4,020,511 S 1,673,698
(263,911) (2,854,730) (4,077,721)
0 631,541 547,999
0 659,723 1,134,124
(202,020) (987,060) (821,420)
0 0 (9,220)
(252,648) (1,469,820) (1,211,502)
S (718,579) S 165 S (2,764,042)
$ (50,000) S (2,262,206) S 1,196,235
12,034 606,677 666,553
S (37,966) S (1,655,529) S 1,862,788
S (202,063) S 20525,067 S 2,136,592
232,193 7,425,559 5,288,967
$ 30,130 $ 9,950,626 $ 7,425,559
S 30,130 S 150,860 $ 1,280,601
0 25,774 17,070
0 2,219,444 1,904,430
0 7,554,548 4,223,458
S 30,130 $ 9,950,626 S 7,425,559
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77
City of Renton 1990 CAFR qft
ENTERPRISE FUNDS Page 3 of 4
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
WATER/SEWER AIRPORT SOLID WASTE
UTILITY UTILITY
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... S 1,305,444 $ (47,250) S 338,754
Adjustments to Reconcile Operating Income (Loss) '
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... 1,529,023 205,014 0
(Increase) Decrease in Accounts Receivable ................. (162,614) (1,566) (207,315)
(Increase) Decrease in Due From Other Funds/Governmental ... 20,471 (231) (3,605)
(increase) Decrease in Inventory/Prepaid Expenses .......... (85,856) 0 0 '
Increase (Decrease) in Vouchers Payable/Contracts Payable .. 102,845 (10,022) 7,891
Increase (Decrease) in Due to Other Funds/Governmental ..... (37,286) 0 (26,195)
Increase (Decrease) in Payables/Other Short Term Liabilities 2,080 648 2,951
Increase (Decrease) in Customer Deposits ................... 8,704 0 0
Increase (Decrease) in Deferred Revenues ................... 13,165 1,191 0
Increase (Decrease) in Accrued Employee Leave Benefits ..... (15,928) 2,246 123
Capital Cost Reported as Operating Expense ................. 0 0 0
Prior Period Correction ................................... 603,474 0 0
Total Adjustments ...................................... $ 1,978,078 $ 197,280 S (226,150)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... $ 3,283,522 $ 150,030 $ 112,604
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers ....................... S 1,210,981 S 0 $ 0
Advance Refunding of Revenue Bonds ....................... 0 0 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES ......... S 1,210,981 $ 0 $ 0
78 - -- — — — -- '
Page 4 of 4 City of Renton 1990 CAFR
TOTALS
GOLF
COURSE 1990 1989
$ 164,912 S 1,761,860 S 1,017,443
21,721 1,755,758 1,599,199
13,606 (357,889) (203,032)
(9,661) 6,974 (96,912)
0 (85,856) (8,613)
22,100 122,814 (155,505)
0 (63,481) 82,964
1,310 6,989 5,120
0 8,704 (1,060)
0 14,356 6,167
3,284 (10,275) 6,590
0 0 1635
0 603,474 0
S 52,360 S 2,001,568 S 1,236,553
$ 217,272 $ 3,763,428 $ 2,253,996
S 0 S 1,210,981 S 1,578,412
0 0 2,092,623
$ 0 $ 1,210,981 S 3,671,035
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City of Renton 1990 CAFR --- '
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80 -- —
City of Renton 1990 CAFR
INTERNAL SERVICE FUNDS
s Internal service funds are used to account for the financing of
goods and services provided by one department or agency to
11 ' 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.
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City of Renton 1990 CAFR '
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989 TOTALS
EQUIPMENT INSURANCE ,
RENTAL 1990 1989
ASSETS:
Current Assets:
Cash and Cash Equivalents .......................... S 74,491 $ 33,494 $ 107,985 5 534,881 '
Investments ...................................... 739,252 2,353,537 3,092,789 2,573,322
Receivables, net of Allowance for Uncollectibles:
Accounts ....................................... 0 662 662 0
Interest on Investments ........................ 2,863 43,310 46,173 62,147 '
Due From Other Funds ............................. 1,953 231 2,184 2,344
Interfund loans/Advances - Current ............... 0 82,657 82,657 169,861
Due From Other Governmental Units ................ 136,093 0 136,093 179,259
Inventory of Material and Supplies ............... 57,118 0 57,118 22,070
Prepaid Items .................................... 0 3,000 3,000 11,550
Total Current Assets............................ 1,011,770 2,516,891 3,528,661 3,555,434
Property, Plant and Equipment: '
Fixed Assets (Net) ............................... 1,538,198 0 1,538,198 1,633,621
Total Property, Plant and Equipment............. 1,538,198 0 1,538,198 1,633,621
Interfund Loans/Advances - Non-Current ........... 0 138,782 138,782 180,939
TOTAL ASSETS . ....... .,.................. ''$2,549,968 $ 2,655,673 $ 5,205.1641: $ ' 5,369,994 '
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers Payable ............................... S 68,792 $ 4,245 $ 73,037 S 23,932
Due To Other Funds ............................. 8,666 0 8,666 154
Accrued Interest Payable ....................... 15,926 0 15,926 18,838
Accrued Wages Payable .......................... 1,304 0 1,304 2,495 ,
Other Short Term Liabilities ................... 0 0 0 89,115
General Obligation Bonds Payable - Current .... 99,155 0 99,155 113,653
Total Current Liabilities..................... 193,843 4,245 198,088 248,187
Long Term Liabilities: ,
General Obligation Bonds Payable ............... 654,568 0 654,568 762,173
Unamortized Discounts on G.O. Bond ............. (11,236) 0 (11,236) (13,283)
Accrued Employee Leave Benefits ................ 41,206 0 41,206 36,602
Claims Incurred But Not Reported................ 0 364,429 364,429 282,988 '
Arbitrage Rebate Tax Payable ................... 2,382 0 2,382 2,228
Total Long Term Liabilities................... 686,920 364,429 1,051,349 1,070,708
107AL LIABILiTI $ ` ' 7......!......: S; 880,763 Sb4 S1,249,437 1,318,895
FUND EQUITY: '
Contributed Capital .............................. $1,034,993 $ 0 $ 1,034,993 $ 1,034,993
Reserved For Insurance Deductible .............. 0 500,000 500,000 500,000
Unreserved .... 634,212 1,786,999 2,421,211 2,516,106
TOTAL U181 EQUITY ANDI07HER CREDITS' 5;1,669,205 S 2,286,999 S 3,956,204 S 4,051,099
TOtTAI,LIABILITLES AND' 1UNtI IriHIITY S€Z,5�.9,468 S 2,655,673 $'' 5,205,641 $ 5,369,994
82 ,
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City of Renton 1990 CAFR
IN INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
rr
TOTALS
EQUIPMENT INSURANCE
RENTAL 1990 1989
OPERATING REVENUES:
Charges for Services ........................... S 1,204,638 $ 2,535,897 $ 3,740,535 S 2,917,847
Other Operating Revenue ....................... 0 37,342 37,342 14,618
TOTAL OPERATING REVENUE .......................... S 1,204,638 $ 2,573,239 $ 3,777,877 $ 2,932,465
OPERATING EXPENSES:
Operations and Maintenance $ 705,582 $ 0 $ 705,582 S 499,978
Benefit Payments ............................... 0 1,844,074 1,844,074 1,438,947
Employee Incentive Rebates ..................... 0 0 0 0
Professional Services .......................... 0 200,759 200,759 172,758
to Administrative and General ..................... 176,395 45,146 221,541 173,094
Insurance ...................................... 0 742,722 742,722 615,530
Depreciation .................................. 328,731 0 328,731 309,247
TOTAL OPERATING EXPENSES ......................... $ 1,210,708 $ 2,832,701 $ 4,043,409 $ 3,209,554
OPERATING INCOME (LOSS) .......................... $ (6,070) $ (259,462) $ (265,532) $ (277,089)
NON-OPERATING REVENUE (EXPENSE):
11ir Interest Revenue ............................... S 48,343 $ 186,303 S 234,646 $ 293,557
Gain (Loss) on Sale of Assets .................. 996 0 996 18,311
Other Non-operating Revenue .................... 12,902 27,714 40,616 16,199
Interest Expense ............................... (57,283) 0 (57,283) (77,101)
1r Arbitrage Expense .............................. (154) 0 (154) (2,228)
Amortization of Debt Discount and Expense ...... (2,110) 0 (2,110) (2,047)
NON-OPERATING REVENUE NET OF EXPENSES ............ $ 2,694 $ 214,017 $ 216,711 S 246,691
NET INCOME (LOSS) ................................ $ (3,376) $ (45,445) $ (48,821) $ (30,398)
to
RETAINED EARNINGS, JANUARY 1 ..................... $ 646,956 $ 2,369,150 $ 3,016,106 S 3,091,312
Prior Period Corrections (9,368) 0 (9,368) 0
RETAINED EARNINGS, JANUARY 1, RESTATED ........... $ 637,588 $ 2,369,150 $ 3,006,738 $ 3,091,312
' Residual Equity Transfers In (Out) ............. 0 (36,706) (36,706) (44,808)
RETAINED EARNINGS, DECEMBER 31 ................... $ 634,212 $ 2,286,999 $ 2,921,211 $ 3,016,106
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 1,034,993 S 0 $ 1,034,993 $ 1,034,993
Other Contributed Capital 0 0 0 0
CONTRIBUTED CAPITAL, DECEMBER 31 ................. $ 1,034,993 $ 0 $ 1,034,993 $ 1,034,993
FUND,.EOUITY, DECEMBER 31 ......................... $ 1,669,205 $ 2,286,999 $ 3,956,204 $ 4,051,099
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City of Renton 1990 CAFR
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
TOTALS
EQUIPMENT INSURANCE
RENTAL 1990 1989
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers and Users ....................... $1,204,638 S 2,535,897 S 3,740,535 S 2,917,847
Cash Payments to Suppliers ................................... (645,995) (2,832,466) (3,478,461) (2,631,296)
Cash Payments to Employees ................................... (219,633) (438) (220,071) (201,696)
Other Operating Receipts ... ....................... 0 37,342 37,342 14,618
..... .... ..
NET 11 CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... S '339,010 $ '(259,665) $ 79,345 $ 99,473
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Interfund loans .............................................. S 0 $ (4,470) S (4,470) $ (169,861)
Advances From (To) Other Funds ............................... 0 (36,030) (36,030) (180,939)
Other Non-Operating Receipts ................................. 37,234 108 37,342 16,199 +�
Repayments on Interfund Loans ............................... 0 197,467 197,467 0
NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES .... S 37,234 $ 157,075 S 194,309 $ (334,601)
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. S 0 $ 0 $ 0 $ 314,816
Proceeds From Sale of Equipment .............................. 26,563 0 26,563 0
Acquisition and Construction of Capital Assets ............... (249,193) 0 (249,193) (334,942)
Capital Contributions ........................................ 0 0 0 0
Principal Payments on Bonds .................................. (114,453) 0 (114,453) (91,673) ..
Interest Payments on Bonds ................................... (57,914) 0 (57,914) (58,263)
Residual Equity Transfer-Out ................................. 0 (36,706) (36,706) (44,808)
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES ....... S (394,997) S (36,706) $ (431,703) S (214,870)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net Investment Activity ...................................... S (266,390) $ (253,077) S (519,467) S 592,492
Interest on Investments ...................................... 50,481 200,139 250,620 242,590
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES S (215,909) S (52,938) $ (268,847) S 835,082 .r
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ........... S (234,662) $ (192,234) S (426,896) $ 385,084
CASH AND CASH EQUIVALENTS, JANUARY 1 ........................... 309,153 225,728 534,881 149,797
CASH AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 74,491 $ 33,494 S 107,985 $ 534,881
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Residual Investments ................................ $ 74,491 S 33,494 S 107,985 $ 534,881
TOTAL CASH AT THE END OF THE YEAR .............................. S 74,491 $ 33,494 S 107,985 $ 534,881
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RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH j
PROVIDED (USED) BY OPERATING ACTIVITIES: j
Operating Income (Loss) ...................................... S (6,070) $ (259,462) S (265,532) S (277,089)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
j Depreciation ............................................... 328,731 0 328,731 309,247
(Increase) Decrease in Accounts Receivable ................. 0 (662) (662) 0
(Increase) Decrease in Due From Other Funds/Governmental ... (1,153) (231) (1,384) 36,225
(Increase) Decrease in Inventory/Prepaid Expenses .......... (35,048) 8,550 (26,498) (4,453)
Increase (Decrease) in Vouchers Payable/Contracts Payable .. 49,137 (32) 49,105 (1,967) ,
Increase (Decrease) in Due to Other Funds/Governmental ..... 0 (154) (154) (13,330)
Increase (Decrease) in Payables/Other Short Term Liabilities (1,191) (89,115) (90,306) 23,840
Increase (Decrease) in Accrued Employee Leave Benefits ..... 4,604 0 4,604 4,311
Increase (Decrease) in Claims Incurred But Not Reported .... 0 81,441 81,441 22,189 '
Interest Reported as Operating Income ..................... 0 0 0 500
Total Adjustments ..................................... S 345,080 S (203) S 344,877 S 376,562
1 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... S 339,010 S (259,665) S 79,345 $ 99,473
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: '
Asset Trade-In ............................................... $ 8,108 S 0 S 8,108 S 0
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES ......... S 8,108 $ 0 $ 8,108 $ 0
84
City of Renton 1990 CAFR
FIDUCIARY FUNDS
Fiduciary Funds are used to account for assets held by the City
in a trustee capacity or as an agent for individuals, private
organizations, other governmental units, and/or other funds.
These funds are classified as Pension Trust,Expendable Trust,
and Agency Funds.
PENSION TRUST FUNDS
FIREMENS 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.
DEFERRED COMPENSATION FUND New fund
�,. established during 1986, to account for the Deferred
Compensation plan assets and liabilities.
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City of Renton 1990 CAFR ,
FIDUCIARY FUNDS Page 1 of 2 '
COMBINING BALANCE SHEET
DECEMBER 31, 1990 a+EN&[DIi.:::;. ...
With Comparative Totals for December 31, 1989 ........7111lff :' AGENCY fUNt)I:
PENSION SPECIAL ADVANCE DEFERRED
TRUST DEPOSIT TRAVEL COMPENSATION
ASSETS:
Cash and Cash Equivalents ........................ S 39,946 S 752,037 S 4,000 $ 0
Deferred Compensation Plan Assets ................ 0 0 0 2,069,208 '
Investments ...................................... 2,035,380 0 0 0
Receivables, net of Allowance for Uncollectibles:
Accounts ....................................... 0 0 0 0
Interest on Investments 0 0 0 0
Due From Other Funds 0 0 0 0
TOTAL ASSETS ..................................... f2:075 326 1, ;;.752 D3T.;:. $ 4,000 $ 2,069.t208<:
LIABILITIES AND FUND EQUITY:
LIABILITIES: ,
Vouchers Payable ............................... S 0 S 0 S 0 $ 0
Due To Other Funds - Note 5 .................... 0 400 0 0
Deposits Payable ............................... 0 751,637 0 0
Deferred Compensation Payable ........ 0 0 0 2,069,208 '
Interfund Loans/Advances Non Current 0 0 4,000 0
TOTAL LIABILITIES ... .: .. 11 3 752,037 S 4,000 S 2 069.:'208:::
FUND EQUITY: '
Fund Balance:
Reserved For Pension Obligation .............. S 6,984,000 f 0 f 0 f 0
Unreserved - Undesignated .................... (4,908,674) 0 0 0
tQ7AL U1� 9QlXjY AND'07HER'CREDITS ................ S 2,075,326 ;t LI >L 0 f fl
'ft1TAt< C;AliiltTTES AND FUND EQUITY .................. S
86 '
City of Renton 1990 CAFR
Page 2 of 2
TOTALS
1990 1989
S 795,983 S 267,620
2,069,208 1,525,625
2,035,380 1,921,992
0 6,916
0 786
0 154
$ 4,900,571 S 3,723,093
E 0 S 214
400 0
751,637 238,415
2,069,208 1,525,625
4,000 4,000
$ 2,825,245 S 1,768,254
S 6,984,000 S 6,164,532
(4,908,674) (4,209,693)
S 2,075,326 S 1,954,839
S 4,900,571 S 3,723,093
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City of Renton 1990 CAFR '
FIREMEN'S PENSION TRUST FUND Page 1 of 1 '
COMPARATIVE STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
1990 1989 '
OPERATING REVENUES:
Fire Insurance Premiums S 48,865 E 49,842 ,
TOTAL OPERATINGREVENUE S 48,865 S 49,842
OPERATING EXPENSES:
Benefit Payments ............................... S 252,197 S 251,468
Administrative and General .................... 2,521 5,722
TOTAL OPERATING EXPENSES S 254,718 S 257,190
OPERATING INCOME (LOSS) .......................... S (205,853) S (207,348) '
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... S 135,340 S 263,152 ,
Property Taxes ................................. 191,000 175,000
NON-OPERATING REVENUE NET OF EXPENSES S 326,340 $ 438,152
'.11ET INCOME (LOSS) $ 120,487 $ 230,804
RETAINED EARNINGS, JANUARY 1 .................... $ 1,954,839 $ 1,724,035
RETAINED EARNINGS, DECEMBER 31 ................... $ 2,075,326 S 1,954,839
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City of Renton 1990 CAFR
FIREMEN'S PENSION TRUST FUND Page 1 of 1
r COMPARATIVE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1990
With Comparative Totals for Year Ended December 31, 1989
+rs
1990 1989
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers and Users ....................... S 54,865 $ 44,847
Cash Payments to Suppliers ................................... (2,581) (8,717)
Cash Payments to Retirees (252,197) (251,468)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... S (199,913) S (215,338)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
+� Other Non-Operating Receipts ................................ $ 191,000 $ 175,000
NET CASH Pi IDED (USED) BY NONGAPITAL FINANCING ACTIVITIES ... S 191,000 S 175,000
CASH FLOWS FROM INVESTING ACTIVITIES:
.,, Net Investment Activity ...................................... S (113,388) S (199,032)
Interest on Investments ...................................... 136,126 262,366
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ............... $ 22,738 $ 63,334
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS .......... $ 13,825 $ 22,996
r CASH AND CASH EQUIVALENTS, JANUARY 1 ........................... 26,121 3,125
CASH AND CASH EQUIVALENTS, DECEMBER 31 ......................... S 39,946 $ 26,121
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Residual Investments ............. $ 39,946 $ 26,121
dw TOTAL CASH AT THE END OF THE YEAR .............................. S 39,946 S 26,121
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
aw Operating Income (Loss) ...................................... S (205,853) S (207,348)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
(Increase) Decrease in Accounts Receivable ................. 6,000 (4,995)
60 (Increase) Decrease in Due From Other Funds ................ 154 (154)
Increase (Decrease) in Vouchers Payable .................... (214) (2,841)
Total Adjustments ..................................... S 5,940 S (7,990)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... S (199,913) S (215,338)
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89
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City of Renton 1990 CAFR
COMBINING STATEMENT OF CHANGES 1N ASSETS AND LIABILITIES Page 1 of 1
ALL AGENCY FUNDS
YEAR ENDED DECEMBER 31, 1990
BALANCE BALANCE
1/01/90 ADDITIONS DEDUCTIONS 12/31/90 w
SPECIAL DEPOSIT FUND
ASSETS
Cash and Cash Equivalents S 238,415 S 1,021,289 S 507,667 S 752,037
LIABILITIES
Due to Other Funds S 0 $ 400 E 0 $ 400
Deposits Payable 238,415 1,021,689 508,467 751,637
TOTAL LIABILITIES S 238,415 S 1,022,089 $ 508,467 S 752,037
ADVANCE TRAVEL FUND
ASSETS
Cash and Residual Investments $ 3,084 $ 16,073 S 15,157 $ 4,000
Accounts Receivable 916 15,157 16,073 0
TOTAL ASSETS $ 4,000 S 31,230 $ 31,230 S 4,000
LIABILITIES
Advances From Other Funds S 4,000 S 0 S 0 S 4,000
DEFERRED COMPENSATION FUND
ASSETS
Deferred Compensation Plan Assets S 1,525,625 S 586,773 $ 43,190 $2,069,208
LIABILITIES
I
Deferred Compensation Payable S 1,525,625 S 586,773 S 43,190 $2,069,208
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TOTAL - ALL AGENCY FUNDS
ASSETS
Cash and Residual Investments $ 241,499 S 1,037,362 S 522,824 S 756,037 '
Accounts Receivable 916 15,157 16,073 0
Deferred Compensation Plan Assets 1,525,625 586,773 43,190 2,069,208
TOTAL ASSETS $1,768,040 S 1,639,292 $ 582,087 $2,825,245
LIABILITIES '
Advances From Other Funds S 4,000 $ 0 S 0 S 4,000
Due to Other Funds 0 400 0 400
Deposits Payable 238,415 1,021,689 508,467 751,637 '
Defered Compensation Payable 1,525,625 586,773 43,190 2,069,208
TOTAL LIABILITIES 0,768,040 S 1,608,862 $ 551,657 S2,825,245
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City of Renton 1990 CAFR
iGENERAL FIXED ASSETS ACCOUNT GROUP
The General Fixed Assets Account Group is self-balancing,and
accounts for all the fixed assets of the City other than those
1 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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City of Renton 1990 CAFR '
GENERAL FIXED ASSETS ACCOUNT GROUP Page 1 of 1 t
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989
1990 1989
ASSETS:
Fixed Assets (Net) ............................... $ 45,429,851 $ 38,324,789
Construction In Progress 93,053 5,367,710 ,
TOTAL ASSETS ..................................... $ 45iRZ,9041 $ 43.692.499'
LIABILITIES AND FUND EQUITY:
LIABILITIES: ,
TOTALLIABILITIES .................................. $ 0' S 0'
FUND EQUITY: ,
Fund Balance:
Investments in General Fixed Assets ............ $ 45,522,904 $ 43,692,499
40TALxIFUND EQUITY ANLk QTilEl2 CREDITS ................ $ 45::522,9Q4 # ;:43,692,499
410TAL t1ABILITIES AND 'FUVO EQUITY .................. $ 45,522,904: $ 43,692,499
1
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City of Renton 1990 CAFR
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE Page t of 1
DECEMBER 31, 1990
GENERAL.:IIXED ASSETS
Land S 9,019,314
"r Buildings 18,109,674
Improvements Other Than Buildings 13,652,151
Machinery and Equipment 4,648,712
Construction Work in Progress 93,053
TOTAL GENERAL FIXED ASSETS $ 45,522,904
INVESTMENT IN GENERAL FIXED ASSETS FROM:
+r
General Obligation Bonds $ 19,726,692
Federal Grants 6,394,199
State Grants 1,564,179
" County Grants 920,338
General Revenues 14,619,741
Donations 2,297,755
TOTAL INVESTMENT IN GENERAL FIXED ASSETS S 45,522,904
.rr
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93
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City of Renton 1990 CAFR r
SCHEDULE OF GENERAL FIXED ASSETS Page 1 of 1
BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1990
IMPROVEMENTS MACHINERY CONSTRUCTION
OTHER THAN AND WORK IN
FUNCTION TOTAL LAND BUILDINGS BUILDINGS EQUIPMENT PROGRESS
General Government S 4,667,365 S 831,821 E 2,119,882 S 183,664 $1,531,998 $ 0
Security of Persons/Property 3,509,705 261,249 902,863 157,112 2,174,967 13,514
Physical Environment 3,710,574 0 2,751,874 743,383 215,317 0
Transportation 956,250 759,563 118,218 0 78,469 0
Economic Environment 1,869,793 472,016 1,294,221 9,702 93,854 0
Culture and Recreation 30,809,217 6,694,665 10,922,616 12,558,290 554,107 79,539
TOTAL :GENERAL FIXEb 11SSET& S45,522,904 S9019314 S 18,109,674 S13,652,151 S4648712 S 93,053
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR ENDED DECEMBER 31, 1990
GENERAL GENERAL
FIXED ASSETS FIXED ASSETS
FUNCTION 1/01/90 INCREASES DECREASES 12/31/90
General Government S 3,663,438 S 1,008,969 S 55,424 $ 4,616,983
Security of Persons/Property 3,446,098 344,043 230,055 3,560,086
Physical Environment 3,893,168 216,440 399,034 3,710,574
Transportation 705,578 250,673 0 956,251
Economic Environment 1,609,248 260,545 0 1,869,793
Culture and Recreation 30,374,969 5,413,781 4,979,533 30,809,217
TOTAL GENERAL FIXED ASSETS $43,692,499 S 7,494,451 $ 5,664,046 $45,522,904
I
94 J '
City of Renton 1990 CAFR
GENERAL LONG-TERM DEBT ACCOUNT GROUP
The General Long-Term Debt Account group is self-balancing
and is used to account for unmatured principal on the General
Obligation Long-Term Debt of the City of Renton, including
6 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.
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95
City of Renton 1990 CAFR -
GENERAL LONG TERM DEBT ACCOUNT GROUP Page 1 of 1 '
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1990
With Comparative Totals for December 31, 1989 ,
1990 1989
ASSETS:
Available in Debt Service & Capital Project Funds. $ 2,361,415 $ 2,098,996
Amount To Be Provided Long Term Debt Retirement .. 26,102,355 27,170,954
TOTAL ASSETS ................ $2$,463,770 $29,269,950
LIABILITIES AND FUND EQUITY:
LIABILITIES: '
General Obligation Bonds Payable ............... $18,212,697 $18,945,395
Special Assessment Bonds Payable ............... 7,123,000 8,200,000
Accrued Employee Leave Benefits ................ 1,943,925 1,747,167
Installment Purchase Contracts .. 950,377 223,370 '
Arbitrage Rebate Tax Payable 233,771 154,018
TOTAL LIABILITIES ..'............... 52.8.,,463,770 S 29,269,950:':
FUND EQUITY ..... ..... ..... $ 0 0 '
TOTAL FUND IQUITY AND OTHER CREDITS .. $ 0 tl
TOTAL LIABILITIES AND FUND EQUITY ................... $28,463,770 29,269,950
1
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96 '
City of Renton 19%CAM
1990 Annual Financial Re12ort
Statistical Section
1
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97
City of Renton 1990 CAFR _ -- —
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION, Page 1 of 2 ..
INCLUDING CHANGES IN FUND BALANCES-LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE,AND DEBT SERVICE FUNDS
Ten Year General Governmental Revenue Trends
M $33.6
i
$35--
$29.71
35 $29.7 w
$30-/ 28.1
$28.9 $25.8
I
0
n $25-/ $21.1 $21 $21::
S
1
20 $16.5
0
f
15
D
$10--
0 0
I
I $5 a
r $0
S 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 '
DESCRIPTION 98i 1982 1'983 1984 '
REVENUES
Taxes $ 9,530,298 $ 9,908,369 $ 14,029,386 $ 12,976,666
Licenses and Permits 526,943 509,391 507,568 663,256 ,
Intergovernmental Revenues 2,821,681 3,529,543 3,064,007 3,519,090
Charges for Services 2,274,065 2,372,193 2,264,182 2,519,415
Fines and Forfeits 520,321 553,835 483,680 462,651 ,
Interfund Revenues 136,178 178,499 174,765 0
Miscellaneous 655,070 655,001 550,601 896,515
,T0.1'AE.REVENUES $ 16,464,556j, $ 17,706,831 $ 21,074,189 $ 211037,593:
EXPENDITURES '
General Government $ 1,915,440 $ 2,445,649 $ 3,075,561 $ 2,933,863
Security of Persons and Property 5,850,917 5,881,748 6,678,171 6,807,258
Physical Environment 3,090,690 4,501,999 3,101,241 2,417,624
Transportation 2,217,555 2,496,533 2,483,012 2,281,660
Economic Environment 129,516 135,394 149,638 1,001,026
Mental and Physical Health 37,528 42,914 45,610 48,989
Culture and Recreation 2,321,540 413,452 2,092,843 2,179,142 ,
Capital Outlay 0 1,030,294 574,505 737,043
Debt Service 1,057,943 991,228 1,385,275 1,553,018
TOTAL EXPENDITURES $ 16,621,129 $ 17,939,211 $ 19,585,856 $ 19,959,623
Other Increases(Decreases) 103,800 (67,193) (4,198) (514,145)
FUND BALANCE,JANUARY 1 2,484,459 2,431,686 2,132,113 3,616,248
FUND BALANCE gECEMBER 31 $ 2,431,686. $ 2,132,113 $ 3,616,248 $ 4,180,073
Source: City of Renton Finance Department.
98
City of Renton 1990 CAFR
Page 2 of 2
Ten Year General Governmental Fund Balance Trends
M
$9 i
7.7 I
$7. $8
$6.1 $7 0
5.8
$6 n
s
.2 5
S4 $
$a.
0
$3..
4
f
$2.4
$2. $3 D
0
$2 ,
$1
a
$0 r
1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 s
«r
i
1985 1986 1987 1988 1989 1990
$ 16,015,551 $ 17,639,615 $ 19,265,841 $ 19,911,366 $ 21,587,371 24,788,886
842,979 828,563 810,094 717,366 691,646 853,258
3,231,409 3,317,946 2,251,938 2,363,848 2,276,308 3,083,320
403,409 (a) 410,020 446,948 530,318 1,277,780 1,290,486
489,276 670,817 626,088 653,326 650,059 742,446
0 0 0 0 0 0
629,918 4,043,930 2,417,406 3,968,222 3,211,659 2,808,531
$ 21,612,542 $ 26,910,891 $ 25,818,315 $ 28,144,446 $ 29,694,823 33,566,927
$ 3,313,316 $ 3,527,007 $ 3,413,832 $ 3,896,716 $ 4,548,894 5,658,870
7,576,703 8,375,821 8,630,732 9,448,293 10,414,800 11,313,885
747,963 (a) 820,107 853,691 970,075 990,521 790,466
2,393,303 2,987,935 3,068,765 3,352,152 3,294,786 3,387,188
1,118,401 1,376,506 1,344,017 1,480,498 2,641,202 3,097,543
76,437 201,819 200,747 202,528 8,485 8,892
2,409,529 2,549,418 2,644,631 2,764,356 3,254,427 3,573,006
327,257 495,403 562,915 427,639 607,810 1,342,056
1,572,453 4,908,326 4,108,275 3,952,989 4,678,024 4,303,048
$ 19,535,362 $ 25,242,342 $ 24,827,605 $ 26,495,246 $ 30,438,949 33,474,954
(2,127,956) (741,968) (524,062) (1,162,606) (154,777) 213,592
4,180,073 5,771,636 (b) 6,698,217 7,164,865 6,657,894 (b) 5,758,991
$ 4,129,297 $ 6,698,217 $ 7,164,865 $ 7,651,459 $ 5,758,991 6,064,556
(a)The change of revenues and expenditures in 1985 represents the removal of the solid waste operation from the general
fund and formation of a solid waste utility reported under enterprise funds.
(b) Fund balances are restated.
99
City or Renton 1990 CAFR
TABLE 2. ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS Page 1 of 2
LAST TEN FISCAL YEARS
Ten Year Assessed Valuation Trends
B
i $3.0
I
2.4 2.4
$ $2 ;
n1 s $<
S $2.0 $1.7
$1.s
f 1984 decline due to State law deleting
inventories from tax base,and decline
D $1.0 in Boeing personal property.
O \ %
I
$.5 <
a 'rs
r
S $0.0-
1981 1982 1983 1984 1985 1986 1987 1988 1989 1990
DESCRIPTION 1981 1982 1983 1984
ASSESSED VALUE DECEMBER 31:
Real Property Value $ 1,002,748,845 $ 1,074,919,578 $ 1,299,278,544 $ 1,316,618,491
Personal Property Value 745,539,642 964,315,774 1,089,240,794 456,400,663
TOTAL ASSESSED VALUE $ 1,748,288,487 $ 2,039,235,352 $ 2,388,519,338 $ 1,773,019,154
CITY AND OVERLAPPING TAX RATES: (a)
City of Renton:General Levy $ 2.30000 $ 2.17900 $ 2.01879 $ 2.48141
City of Renton:Special Levy 0.66100 0.30720 0.45779 0.24621
City of Renton Total $ 2.96100 $ 2.48620 $ 2.47658 $ 2.72762
King County 1.44300 1.46700 1.36180 1.54780
Port of Seattle 0.33600 0.34900 0.32416 0.36460
Hospital District#1 0.22100 0.25800 0.22084 0.25201 '
Renton School District#403 1.54800 1.37100 1.19619 1.35641
State of Washington 2.96100 3.10700 2.94146 3.31752
Emergency Medical Services 0.12900 0.13300 0.12370 0.13904
TOTAL PROPERTY TAX RATES $ 9.59900 $ 9.17120 $ 8.64473 $ 9.70500 ,
PROPERTYTAX LEVIES AND COLLECTIONS:
LEVY:
Original $ 5,066,697 $ 4,966,816 $ 5,795,756 $ 4,802,004
Adjusted $ 5,059,763 $ 4,976,096 $ 5,790,361 $ 4,732,016 ,
COLLECTIONS:
Current Collections $ 4,887,815 $ 4,912,148 $ 5,667,979 $ 4,571,517
Percent of Adjusted Levy 96.60% 98.71% 97.89% 96.61%
Delinquent Collections $ 132,021 $ 75,740 $ 104,871 $ 107,213 '
TOTAL COLLECTION:OF CURRENT&DELINQUENT $ 5,019,836 $ 4,987,888 $ 5,772,850 $ 4,678,730
PERCENT OF ADJUSTED LEVY 99.21% 100.24°x6 99.70% 98.87%
OUTSTANDING DELINQUENT TAXES $ 172,985 $ 104,030 $ 146,673 $ 201,336
PERCENT OF DELINQUENT TAXES TO ADJUSTED LEVY 3.42% 2.81% 2.53% 4.25% '
Source: Kng County Department of Assessments.
(a) Property tax rates are in dollars per$1,000 of taxable property valued at 100%. ,
100 '
City of Renton 1990 CAFR
Page 2 of 2
Property Tax Allocation
Schools 18%
Hospital 1.6%
Port 3.3%
County15.1% > State 29.8%
l
i�
<'<> EMS 1.8%
Renton 30.3%
r
1985 1986 1987 1988 1989 1990
$ 1,428,344,874 $ 1,404,265,400 $ 1,548,554,808 $ 1,579,510,236 $ 1,804,228,971 $ 1,864,385,958
441,326,537 452,682,766 419,320,421 477,638,324 482,499,763 556,894,507
$ 1,869,671,411 $ 1,856,948,166 $ 1,967,875,229 $ 2,057,148,560 $ 2,286,728,734 $ 2,421,280,465
$ 2.66666 $ 3.03188 $ 3.25902 $ 3.48761 $ 3.41746 $ 3.55659
0.40819 0.46501 0.71314 0.40764 0.34177 0.54768
$ 3.07485 $ 3.49689 $ 3.97216 $ 3.89525 $ 3.75923 $ 4.10427
1.56652 1.73270 1.83959 1.89387 1.96262 2.05464
0.37786 0.40091 0.40813 0.43275 0.42940 0.45367
0.27673 0.26308 0.23723 0.23166 0.21891 0.21743
2.24799 1.45005 2.28851 2.02323 2.41016 2.43657
3.54076 3.69881 3.78389 3.84221 3.74197 4.04611
0.14372 0.25000 0.25000 0.25000 0.24829 0.25000
$ 11,22843 $ 11,29244 $ 12.77951 $ 12.56897 $ 12.77058 $ 13.56269
$ 5,740,358 $ 6,450,054 $ 7,755,547 $ 7,962,899 $ 8,621,313 $ 9,951,295
$ 5,717,243 $ 6,447,924 $ 7,749,926 $ 7,965,967 $ 8,594,394 $ 9,968,237
$ 5,473,674 $ 6,236,094 $ 7,490,901 $ 7,705,961 $ 8,347,835 $ 9,748,293
95.74% 96.71% 96.66% 96.74% 97.13% 97.79%
$ 115,346 $ 164,375 $ 210,915 $ 195,246 $ 204,613 $ 222,135
$ 5,589,020 $ 6,400,469 $ 71701,816 $ 7,901,207 $ 8,552,448 $ 9,970,428
97.76% 99.26% 99.38% 99.19% 99.51% 100.02%
$ 274,704 $ 322,811 $ 332,608 $ 396,145 $ 343,787 $ 341,596
4.80% 5.01% 4.29% 4.97% 4.00% 3.43%
101 - --
City of Renton 1990 CAFR '
TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBT TO ASSESSED VALUE ,
AND NET BONDED DEBT PER CAPITA -LAST TEN FISCAL YEARS
Ten Year Per Capita Net Bonded Debt Trends
$800-
1$570 5611 588--�
$570
$600--/ I ,
$400 $331 $328i»i'ici»:;>::>.>::>
$312
$20
$200 ,
0
1981 1982 1983 1984 1985 1986 1987 1988 1989 1990
-001
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
1981 32,200 $1,710,240,038 $7,050,000 $515,590 $6,534,410 0.38% 203
1982 33,100 1,994,506,518 10,790,000 473,929 10,316,071 0.52% 312
1983 32,700 2,339,492,464 11,301,541 473,766 10,827,775 0.46% 331 ,
1984 33,342 2,030,798,999 11,043,488 163,654 10,879,834 0.54% 326
1985 34,030 1,852,397,097 14,949,260 15,348 14,933,912 0.81% 439
1986 34,460 1,831,398,601 19,645,786 5,423 19,640,633 1.07% 570 ,
1987 35,360 1,950,903,657 18,703,555 709,260 17,994,295 0.92% 509
1988 36,940 2,030,493,796 17,999,781 728,030 17,271,751 0.85% 468
1989 38,480 2,286,728,734 24,295,231 799,317 23,495,914 1.03% 611
1990 39,340 2,421,280,465 23,925,377 827,930 23,097,447 0.95% 588 ,
Source:State of Washington Office of Program Planning and Fiscal Management,
Kng County Department of Assessments,and City of Renton Finance Department. '
102 i
City of Renton 1990 CAFR
TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
LAST TEN FISCAL YEARS
Lill Special Assessment Billings and Collections
Ll 180% 64.8%
150%
0 o
1
120% 5.5% 100.2% 062/.1006%1001% .3% 965%
951% 1%
90%
60%
30%
/o
0%/0
1981 1982 1983 1984 1985 1986 1987 1988 1989 1990
7
ASSESSMENTS COLLECTION ASSESSMENT
FISCAL RECEIVABLE ADDITIONAL ASSESSMENT----COLLECTION---------- ASA% RECEIVABLE
YEAR 1/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 12/31
1981 6,128,460 224,185 1,253,662 545,047 651,784 1,196,831 95.47% 5,807,598
1982 5,807,598 113,711 1,200,618 567,267 635,251 1,202,518 100.16% 5,354,042
1983 5,354,042 1,326,631 1,068,117 572,786 561,425 1,134,211 106.19% 6,107,887
1984 6,107,887 7,557,364 2,286,276 1,416,038 883,288 2,299,326 100.57% 12,249,213
1985 12,249,213 54,691 4,211,375 2,757,963 1,457,678 4,215,641 100.10% 9,545,941
1986 9,545,941 372,160 2,168,708 2,433,315 1,140,930 3,574,245 164.81% 7,484,786
1987 7,484,786 0 1,847,927 963,900 907,656 1,871,556 101.28% 6,520,886
1988 6,520,886 3,830,502 1,754,939 997,706 696,288 1,693,994 96.53% 9,353,682
1989 9,353,682 0 2,117,212 1,074,848 937,583 2,012,431 95.05% 8,278,834
1990 8,278,834 0 1,911,854 1,060,693 738,829 1,799,522 94.12% 7,218,141
Source:City of Renton Finance Department.
103 �J
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City of Renton 1990 CAFR
I
TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES '
DECEMBER 31, 1990
Ten Year Debt Capacity Trends ,
M
$50
I
I $40.9
$40 $34.9 35.5 $35.5 $36.9
O
n 32.4 $32
29.9
s
$30 I '
o Excess Levy
f (Voted)
$20
1 t9 ,,$112 $135
0 $ 11.2 '
9.6 $1
$10-
..
,' Coundlmamc S5 �
a (Non-Voted) S2 3 $33 �$e
r
8
$
S 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990
GENERAL CAPACITY SPECIAL PURPOSE CAPACITY ,
PARKS AND UTILITY TOTAL
DESCRIPTION COUNCILMANIC EXCESS LEVY OPEN SPACE PURPOSES CAPACITY
ASSESSED VALUE(1991): $3,031,467,775
2.50%of Assessed Value $ N/A $ 75,786,694 $ 75,786,694 $ 75,786,694 $ 227,360,083
0.75%of 1%of Assessed Value 22,736,008 22,736,008 N/A N/A 0
STATUTORY DEBT LIMIT $ 22,736,008 $ 53,050,686 $ 75,786,694 $ 75,786,694 $ 227,360,083
General Obligation Bonds $ 12,060,000 $ 5,500,000 $ 5,415,000 $ 0 $ 22,975,000 ,
Installment Contracts 950,377 0 0 0 950,377
TOTAL DEBT OUTSTANDING $ 13,010,377 $ 5,500,000 $ 5,415,000 $ 0 $ 23,925,377
Less Amount Available in Debt Service Funds $ 227,711 $ 10,013 $ 590,206 $ 0 $ 827,930 '
NET DEBT OUTSTANDING $ 12,782,666 $ 5,489,987 $ 4,824,794 $ 0 $ 23,097,447
REMAINING DEBT CAPACITY $ 9,953,342 $ 47,560,699 $ 70,961,900 $ 75,786,694 $ 204,262,636 '
Source: King County Department of Assessments.
City of Renton Finance Department.
104 J
City of Renton 19%CAFR
TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT-DECEMBER 31, 1990
City of Renton Direct and Overlapping Debt
M
i
I
I
i $50
s $40
f Renton$23.9
o $30
f
D $20 /— Hospital$3.1
o _ County$16.8
$10--
a _ Port$.96
$0
s —-
PERCENTAGE AMOUNT
NET DEBT APPLICABLE APPLICABLE
# JURISDICTION OUTSTANDING TO RENTON TO RENTON
NET DIRECT DEBT:
City of Renton $23,925,377 100.00% $23,925,377
OVERLAPPING DEBT:
Kng County $562,000,000 2.98% $16,750,096
Port of Seattle 32,085,000 2.98% 956,275
Hospital District#1 12,675,000 24.39% 3,091,903
TOTAL DIRECT AND OVERLAPPING DEBT $630,685,377 7.09% $44,723,651
Source: Seattle Northwest Securities.
y
105
City of Renton 1990 CAFR f
TABLE 7. RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS '
TO TOTAL GENERAL GOVERNMENT EXPENDITURES-LAST TEN FISCAL YEARS
Ten Year Debt Service to Expenditure Ratio Trend ,
12%-/
9.45% 9.22%
9% 97%
%. 36%
.62 .65% .46% f
f
29%
.68%
6% .23%
3% '
0% I '
81 82 83 84 85 86 87 88 89 90
(a)
TOTAL GENERAL RATIO OF DEBT
FISCAL TOTAL GOVERNMENTAL SERVICE TO
YEAR PRINCIPAL INTEREST DEBT SERVICE EXPENDITURES EXPENDITURES
1981 235,000 809,753 1,044,753 16,621,129 6.29% '
1982 423,180 515,379 938,559 17,939,211 5.23% i
1983 286,605 1,206,435 1,493,040 19,585,856 7.62%
1984 518,413 1,009,030 1,527,443 19,959,623 7.65%
1985 489,228 968,165 1,457,393 19,535,362 7.46% ,
1986 497,590 937,319 1,434,909 25,242,342 5.68%
1987 648,922 1,330,652 1,979,574 24,827,605 7.97%
1988 969,023 1,535,744 2,504,767 26,495,246 9.45% '
1989 1,074,550 1,471,447 2,545,997 30,438,949 8.36%
1990 1,096,861 1,988,383 3,085,244 33,474,954 9.22%
(a) General Government Expenditures include General, Special Revenue,and Debt Service Funds. Other Financing '
Uses and Residual Equity Transfers are not included.
Source:City of Renton Finance Department
106 '
City of Renton 1990 CA.FR
Ili TABLE 8:REVENUE BOND COVERAGE FOR WATER AND SEWER, AND AIRPORT BONDS
LAST TEN FISCAL YEARS
Water/Sewer Revenue Bond Airport Revenue Bond
Debt Service Coverage Debt Service Coverage
95
4 .51 1 1 T 6
4.5
78
3 .38 4.1 .99 4.0 4.0 -3 ; 4
28 .29
9'eft 5 2.06 ' 3.4 i
8
2-Z
1.4 2
/ r
0 " 0
81 82 83 84 85 86 87 88 89 90 81 82 83 84 85 86 87 88 89 90
I
(a) OPERATING NET REVENUE AVERAGE ANNUAL
FISCAL GROSS EXPENSES AVAILABLE FOR --DEBT SERVICE REQUIREMENTS-- (b)
YEAR REVENUE W/O DEPREC. DEBT SERVICE PRINCIPAL INTEREST TOTAL COVERAGE
WATER AND SEWER REVENUE BONDS:
1981 $3,131,335 $2,488,606 $642,729 $203,889 $130,332 $334,221 1.92
+ 1982 3,624,092 2,830,106 793,986 208,530 125,562 334,092 2.38
1983 3,910,394 3,142,056 768,338 306,562 198,171 504,733 1.52
1984 4,660,502 3,674,921 985,581 314,667 190,121 504,788 1.95
1985 6,261,892 4,026,109 2,235,783 356,000 281,133 637,133 3.51
1986 7,033,630 4,758,172 2,275,458 432,500 341,826 774,326 2.94
1987 8,692,585 5,626,454 3,066,131 615,789 488,726 1,104,515 2.78
1988 9,596,335 6,423,697 3,172,638 779,474 614,079 1,393,553 2.28
1989 10,307,395 6,737,270 3,570,125 597,500 1,134,654 1,732,154 2.06
1990 12,061,923 7,963,777 4,098,146 705,000 1,086,718 1,791,718 2.29
AIRPORT REVENUE BONDS:
i 1981 $386,881 $171,088 $215,793 $25,000 $27,530 $52,530 4.11
1982 402,452 168,725 233,727 25,000 26,030 51,030 4.58
1983 387,926 190,192 197,734 25,000 24,530 49,530 3.99
1984 400,840 188,004 212,836 30,000 22,880 52,880 4.02
1985 414,872 271,525 143,347 30,000 21,065 51,065 2.81
1986 418,911 338,159 80,752 35,000 19,083 54,083 1.49
1987 391,000 213,903 177,097 35,000 16,947 51,947 3.41
1988 401,394 203,445 197,949 35,000 14,253 49,253 4.02
1989 423,580 227,802 195,778 40,000 11,849 51,849 3.78
1990 511,838 217,890 293,948 40,000 9,370 49,370 5.95
(a)Gross revenue includes connection charges,system development charges,and latecomer fees.
(b) Bond financing requirements are that the average annual coverage is at least 1.3 times the average annual
debt service for Water and Sewer revenue bonds. The Airport revenue bond coverage requirement is at
least 1.5 times that of respective calendar year's annual debt service.
Source:City of Renton Finance Department.
107
City of Renton 1990 CAFR
TABLE 9. CITY OF RENTON 1988, 1989,AND 1990 RETAIL SALES BY SOURCE 11D
I
Changing Sales Tax Composition
11988 vs 1990
Auto z s•. '
Contracting
Building
4
Manufacturing
8.5°..
Business Services
09•
Other Services I
17.
Restaurants
s. 1
Wholesale
a.a 1
General Retailing
-6% -3% 01/. 3% 61/1 9%
i
i
1988 1989 1990 '
SOURCE LAMOUNT % AMOUNT % AMOUNT %
Auto Dealers $146,061,000 15.7% $159,463,000 16.0% $188,754,160 18.3%
Contracting 158,052,000 17.0% 151,242,000 15.2% 119,601,825 11.6% ,
Building Materials 71,368,000 7.7% 56,733,000 5.7% 37,204,795 3.6%
Manufacturing 52,369,000 5.6% 58,069,000 5.8% 61,938,023 6.0%
Business Services 87,472,000 9.4% 90,041,000 9.1% 184,211,267 17.9%
Other Services 62,405,000 6.7% 81,702,000 8.2% 68,605,395 6.7% ,
Food and Restaurants 91,010,000 9.8% 92,492,000 9.3% 90,450,234 8.8%
Wholesale 95,118,000 10.2% 117,600,000 11.8% 111,106,472 10.8%
General Retailing 164,987,000 17.8% 186,704,000 18.8% 168,600,394 16.4% '
TOTALS $928,842,000 100.0% $994,046,000 100.0% $1,030,472,565 100.0%
Source: State of Washington, Department of Revenue. '
108
r
City of Renton 1990 CAFR
r TABLE 10:LARGEST TAXPAYERS BASED ON ASSESSED VALUATION
AND PRINCIPAL EMPLOYERS
1990 PERCENT OF I
ASSESSED ASSESSED
TAXPAYER TYPE OF BUSINESS VALUATION VALUATION
The Boeing Company Aerospace&Computer Services $ 365,542,300 15.10%
Pacific Northwest Group A Telephone Services 153,895,100 6.36%
Lincoln Properties Property Development 28,595,300 1.18%
Puget Sound Power&Light Electric Utility 27,247,300 1.13%
Koll Company Property Development 25,155,700 1.04%
Pacific Car&Foundry Heavy Manufacturing 21,805,200 0.90%
Burlington Northern Property Development 21,055,600 0.87%
First City Equities Property Development 21,019,400 0.87%
Renton Village Company Shopping Center 12,245,400
0.51%
Total Assessed Valuation-Largest Taxpayers $ 676,561,300 27.94%
Total Assessed Valuation-All Others 1,744,719,165 72.06%
Total Assessed Valuation $ 2,421,280,465 100.00%
I
i
i
NUMBER OF PERCENT OF
PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES
The Boeing Company Aerospace&Computer Services 24,126 54.91%
Valley Medical Center Medical Services 1,875 4.27%
;i Renton School District Public Education 1,291 2.94%
Federal Aviation Administration Federal Government 1,050 2.39%
Pacific Car&Foundry Heavy Manufacturing 575 1.31%
City of Renton City Government 567 1.29%
Group Health Cooperative Medical Services 506 1.15%
Sound Ford Automobile Dealership 420 0.96%
Puget Sound Power&Light Electric Utility 250 0.57%
Longacres Race Track Horse Racing 230 0.52%
K-Mart Retail Sales 225 0.51%
Pacific Northwest Group A Telephone Services 225 0.51%
King County Shops Maintenance/Construction 210 0.48%
Total Number of Employees-Principal Employers 31,550 71.81%
Total Number of Employees-All Other Employers 12,386 28.19%
r Total Employees Working Within Renton 43,936 100.00%
Source: Assessed Valuation: King County Department of Assessments.
Number of Employees: City of Renton Business License Records.
t
t
109
City of Renton 1990 CAFR
TABLE 11: CONSTRUCTION AND BANK DEPOSITS-LAST TEN FISCAL YEARS 1
01
Ten Year Construction Permit Valuation Trend '
M 'i
1 $180
I $150.8
i 144.6 '
o $150 i I
n 5118.6
s $120 104.2
i 00.2
0
.2
f $90 t 76.7 80
60.4 $55 '
D $60 II
0 $37 9
I
I $30
a
$0
s 81 82 83 84 85 86 87 88 89 90
I
COMMERCIAL RESIDENTIAL OTHER ,
CONSTRUCTION CONSTRUCTION CONSTRUCTION
FISCAL NO.OF DOLLAR NO,OF DOLLAR NO.OF DOLLAR TOTAL CONSTRUCTION BANK
YEAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE DEPOSITS '
1981 162 $20,775,546 340 $17,600,797 1,573 $21,991,434 2,075 $60,367,777 $316,481,438
1982 169 12,463,791 328 15,410,966 1,252 10,051,323 1,749 37,926,080 386,264,598
1983 143 8,503,197 347 25,303,918 1,667 21,231,255 2,157 55,038,370 442,521,457
1984 166 11,569,564 302 19,691,904 1,683 45,436,010 2,151 76,697,478 503,083,000 ,
1985 226 53,555,155 407 20,783,550 2,136 42,271,193 2,769 116,609,898 548,263,839
1986 299 57,148,373 504 15,777,533 2,164 31,283,569 2,967 104,209,475 572,339,374
1987 300 22,780,183 485 31,533,133 2,195 25,858,586 2,980 80,171,902 623,806,785
1988 267 82,071,089 367 22,580,043 2,501 46,138,173 3,135 150,789,305 653,566,247
1989 381 50,116,503 404 20,087,755 3,030 29,945,417 3,815 100,199,678 660,210,406
1990 486 58,447,140 376 41,611,035 3,000 44,510,780 3,862 144,568,955 693,220,920
Source:Construction permits and values-City of Renton Building Department. '
Bank Deposits-Greater Renton Chamber of Commerce.
110 — � ,
City of Renton 1990 CAFR
TABLE 12: DEMOGRAPHIC STATISTICS-LAST TEN FISCAL YEARS
P Ten Year Population Trends
0
P
u
I
t 50
i
o
5
n 4.5 5.4 .9
2.2 33.1 2,7 3.3 �
i
n 30-r
T
h 20
0
U
S to--
a
n
d 0
S 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990
s
1
I
I
I
PER
FISCAL CAPITA MEDIAN SCHOOL UNEMPLOYMENT
YEAR POPULATION INCOME AGE ENROLLMENT RATE _
1981 32,200 14,107 31.10 12,683 7.40%
1982 33,100 14,714 31.50 12,326 9.80%
1983 32,700 15,335 32.06 12,105 9.50%
1984 33,342 16,438 32.40 12,005 7.40%
' 1985 34,030 17,386 32.70 11,953 6.30%
1986 34,460 18,348 33.20 11,981 6.10%
1987 35,360 19,427 33.40 11,950 5.70%
' 1988 36,940 20,624 33.80 11,855 4.60%
1989 38,480 22,010 34.10 11,902 4.40%
1990 39,340 N/A 34.40 est 11,823 3.30%
Source: Population-State of Washington Office of Program Planning and Fiscal Management.
Per Capita Income-Puget Sound Council of Governments.
' Median Age-Office offinancial Management.
School Enrollment-Renton School District 403
Unemployment Rate-Employment Security,Labor Market and Economic Analysis Department.
I
111 /
City of Renton 1990 CAFR ,
TABLE 13: MISCELLANEOUS STATISTICS '
WASHINGTON STATE ,
Britiisb Columbia ,
Seattle, '
Renton
Idalmo
Olympia '
Oregon
DATE OF INCORPORATION................September 6, 1901 TRAFFIC SIGNALS
FORM OF GOVERNMENT.....................Mayor - Council Number of Signalized Intersections................88 '
TYPE OF GOVERNMENT..............Non-Charter, Code City
LOCATION.....................11 Miles South of Seattle STREETS
LAND AREA...........................16.49 Square Miles Miles of Streets and Alleys...................155.28
RANK IN SIZE STATE OF WASHINGTON..................10
RANK IN SIZE - KING COUNTY...........................4 UTILITY SERVICES '
POPULATION (Official April 1, 1990).............39,340 Water:
ASSESSED VALUATION......................52,421,280,465 Total Customers.............................12,465
CITY EMPLOYEES (Full Time Equivalents/FTE).......498.5 Total Gallons of Water Produced......2,566,475,000
Number of Fire Hydrants......................2,200
Miles of Water Main.........................214.00 '
ELECTION 8 VOTER REGISTRATION
Number of Precincts...............................64 Sanitary Sewer:
Number of Registered Voters...................17,559 Total Customers.............................10,187
Miles of Gravity Sewer and Force Main.......153.71
FIRE PROTECTION '
Fire Rating (Washington Survey and Rating Sureau)..4 Storm Drainage:
Number of Commissioned Fire Fighting Personnel....80 Number of Accounts..........................10,410
Number of Stations.................................3 Miles of Storm Sewers........................164.0
Total Fire Loss...........................51,195,637
Number of Life Support Responses...............3,181 LICENSES 8 PERMITS '
All Other Responses............................2,200 Business Licenses..............................2,779
Total Number of Responses......................5,381 Amusement and Special Permits....................325
Animal Licenses (Dog and Cat)..................3,035
POLICE PROTECTION
Number of Commissioned Police Persomet...........76 AIRPORT ,
Number of Calls for Service...................40,555 Area in acres.................................167.21
Total Crimes Reported (Class 1, Il, III).......9,290 Feet of Asphaltic Concrete Runway..............5,379
Traffic
fI vestigonsed.................1,629 Total Operations.............................145,847
ALI
Viola
,558
LIBRARY
PARKS L RECREATION Libraries (Main and Highlands Branch)..............2
Total Acreage....................................625 Total Registered Borrowers.....................9,203 ..
Number of Parks and Playgrounds...................28 Total Circulation............................264,891
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- -- - --- 112 — ---- — —
T
H
Staff who contributed their time and talents on this project J
include Jim Block,Enola Christian,Linda Dixon,Paula
Henderson,Marji Ishii,Cindy Kartes,Marie Mosley,Iwen
Wang,Debbie Willard,and Lori Wood.
Software used to produce the final product include Lotus
1-2-3,Impress,Allways,Word for Windows,Micrografx
Charisma,operating under Windows 386.
The document was produced and printed in-house using an
t HP Laserjet IID,a Kodak Ektaprint 235 copier,and an A.B.
Dick 9850 offset duplicator.
Thank you to all who contributed to the CAFR.
2a �Le,as,ata
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as'
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