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HomeMy WebLinkAbout2001 CAFRCity of Renton 2001 COMPREHENSIVE ANNUAL FINANCIAL REPORT For Year Ended December 31, 2001 Victoria A. Runkle Finance & Information Services Administrator l 055 South Grady Way Renton, Washington 98055 (425) 430-6858 Website: www.ci.renton.wa.us Acknowledgements Prepared by the City of Renton Finance Division Finance & Information Services Administrator Victoria A Runkle Fiscal Services Director Paul Kusakabe Accounting Manager Gina L. Jarvis Accounting Staff Linda Dixon Norma Kuhn Nancy Violante Administrative Secretary II DeAnna Fricke ITEM TABLE OF CONTENTS DECEMBER 31, 2001 PAGE INTRODUCTORY SECTION Letter of Transmittal ............................................................................................................................ l 2000 Comprehensive Annual Financial Report Award .............................................................. 15 Corporate Organization Structure & Reporting Relations .......................................................... 16 FINANCIAL SECTION Independent Auditor's Report ........................................................................................................ 17 General Purpose Financial Statements ......................................................................................... 19 Combined Financial Statements: Combined Balance Sheet-All Fund Types and Account Groups ........................................ 20 Combined Statement of Revenues, Expenditures and Changes in Fund Balances for All Governmental Fund Types ......................................................................... 22 Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual .................................................................................................................. 23 Combined Statement of Revenues, Expenses and Changes in Fund Equity -All Proprietary Fund Types ......................................................................................... 27 Combined Statement of Cash Flows All Proprietary Fund Types ........................................ 28 Firemen's Pension Trust Fund Statement of Changes in Plan Net Assets .............................. 30 Notes to Financial Statements: Note l : Significant Accounting Policies ............................................................................. 31 Reporting Entity .................................................................................................... 31 Basis of Presentation -Fund Accounting .......................................................... 31 Basis of Accounting ............................................................................................. 33 Budgets and Budgetary Accounting ................................................................ 34 Assets, Liabilities and Fund Equity ...................................................................... 35 Cash and Cash Equivalents ............................................................................ 35 lnvestments ........................................................................................................ 35 Inventories .......................................................................................................... 35 Property Taxes Receivable .............................................................................. 35 Assessments Receivable .................................................................................. 36 Fixed Assets and Depreciation ........................................................................ 36 Accumulated Unpaid Vacation and Sick Pay ............................................. 37 Fund Equity -ReseNes & Designations ........................................................... 38 Direct Charges/Credits to Enterprise Funds Retained Earnings .................. 38 Risk Management and Risk Retention ........................................................... 38 Note 2: Stewardship, Compliance and Accountability .................................................. 38 Note 3: Cash & lnvestments ................................................................................................ 38 Note4: Deferred Compensation ........................................................................................ 39 Note 5: Receivables and Payables .................................................................................... 40 Note6: Residual Equity and Operating Transfers ............................................................. 42 Note 7: Fixed Assets .............................................................................................................. 43 Note 8: Prepaid ltems ........................................................................................................... 45 Note9: Joint Venture ............................................................................................................ 45 Note 10: Pension Plan & Other Postemployment Benefits ................................................ 49 PERS ........................................................................................................................ 49 LEOFF ..................................................................................................................... 50 Firemen's Pension ................................................................................................ 50 iii ITEM TABLE OF CONTENTS DECEMBER 31, 2001 PAGE Note 11: Construction Commitments .................................................................................. 53 Note 12: Long-Term Debt and Capital Leases ................................................................... 53 Note 13: Deferred Charges in Proprietary Funds ................................................................ 59 Note 14: Reservations and Designations of Fund Equity ................................................... 59 Note 15: Segment Information for Enterprise Funds ........................................................... 60 Note 16: Litigation ................................................................................................................... 60 Note 17: Risk Management ................................................................................................... 60 Note 18: Subsequent Events .................................................................................................. 62 Combining Financial Statements and Schedules of Individual Funds and Account Groups: General Fund: General Fund Description ....................................................................................................... 63 Comparative Balance Sheet ................................................................................................. 64 Statement of Revenues, Expenditures and Changes in Fund Balance ........................... 65 Statement of Revenues. Expenditures and Changes in Fund Balance Budget and Actual .............................................................................................................. 66 Special Revenue Funds: Special Revenue Fund Descriptions ...................................................................................... 6 7 Combining Balance Sheet ..................................................................................................... 68 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..... 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual ............................................................................................................. 72 Debt Service Funds: Debt Service Fund Descriptions .............................................................................................. 79 Combining Balance Sheet ..................................................................................................... 80 Combining Statement of Revenues. Expenditures and Changes in Fund Balances ..... 82 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual .............................................................................................................. 84 Capital Project Funds: Capital Project Fund Descriptions .......................................................................................... 91 Combining Balance Sheet ..................................................................................................... 92 Combining Statement of Revenues. Expenditures and Changes in Fund Balances ..... 94 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual .............................................................................................................. 96 Enterprise Funds: Enterprise Fund Descriptions ................................................................................................. 103 Combining Balance Sheet ................................................................................................... 104 Combining Statement of Revenues. Expenses and Changes in Fund Equity ............... 106 Combining Statement of Cash Flows .................................................................................. 108 Internal Service Funds: Internal Service Fund Descriptions ....................................................................................... 113 Combining Balance Sheet ................................................................................................... 114 Combining Statement of Revenues, Expenses and Changes in Fund Equity ............... 115 Combining Statement of Cash Flows .................................................................................. 116 iv ITEM TABLE OF CONTENTS DECEMBER 31, 2001 PAGE Fiduciary Funds: Fiduciary Fund Descriptions ................................................................................................. 117 Combining Balance Sheet ................................................................................................... 118 Combining Statement of Changes in Assets and Liabilities All Agency Funds ............. 119 Firemen's Pension Trust Fund -Statement of Plan Net Assets .......................................... 120 Firemen's Pension Trust Fund -Statement of Changes in Plan Net Assets ..................... 121 General Fixed Assets Account Group: General Fixed Assets Account Group Description ............................................................ 123 Comparative Balance Sheet ............................................................................................... 124 Schedule of General Fixed Assets by Source ..................................................................... 125 Schedule of General Fixed Assets by Function and Activity ............................................ 126 Schedule of Changes in General Fixed Assets by Function and Activity ....................... 126 General Long-Term Debt Account Group: General Long-Term Debt Account Group Description ..................................................... 127 Comparative Balance Sheet ............................................................................................... 128 STATISTICAL SECTION Statistical Section Description ................................................................................................... 129 Table 1 : General Government Revenues & Expenditures -Last Ten Fiscal Years ........ 130 Table 2: Assessed Value, Property Tax Rates, Levies and Collections Last Ten Fiscal Years ............................................................................................... 132 Table 3: Ratio of Net General Obligation Debt to Assessed Value & Net Bonded Debt per Capita Last Ten Fiscal Years .................................... 134 Table 4: Special Assessment Billings and Collections -Last Ten Fiscal Years ................ 135 Table 5: Computation of Legal Debt Margin -December 31, 2001 .............................. 136 Table6: Computation of Direct and Overlapping Debt-December 31, 2001 ........... 137 Table 7: General Obligation Bonds/Expenditure Ratio -Last Ten Fiscal Years ............. 138 Table 8: Revenue Bond Coverage -Last Ten Fiscal Years .............................................. 139 Table 9: Retail Sales by Source -Last Five Fiscal Years .................................................... 140 Table 10: Largest Taxpayers and Principal Employers ........................................................ 141 Table 11: Construction Permits-Last Ten Fiscal Years ....................................................... 142 Table 12: Demographic Statistics -Last Ten Fiscal Years ................................................... 144 Table 13: Miscellaneous Statistics .......................................................................................... 145 v THIS PAGE INTENTIONALLY LEFT BLANK vi Jesse 'fanner, Mayor June 13, 2002 Honorable Jesse Tanner, Mayor Members of the Renton City Council City of Renton 1055 South Grady Way Renton, Washington 98055 CITY OF RENTON Finance & Information Services Department Victoria A. Runkle, Administrator TRANSMITTAL OF THE 2001 COMPREHENSIVE ANNUAL FINANCIAL REPORT Dear Mayor and Council Members: With this letter the Finance & Information Services Department transmits a copy of Renton's Comprehensive Annual Financial Report for the City's centennial year ending December 31 , 200 l . We received an unqualified audit report from the State Auditor's office for 2001. As always, an unqualified audit report demonstrates that city employees, with the oversight and guidance from the Finance Department, continue to regard the management and accounting of Renton's financial and fiscal assets as one of their highest priorities. I In general, this report describes the financial results of the City's operations and the general financial condition as of December 31. 200 l . The Comprehensive Annual Financial Report (CAFR) has three significant uses. First. it provides taxpayers and citizens a broad overview of the City's finances. Second, rating agencies and interested bond buyers use this report to evaluate the City's fiscal and financial health and creditworthiness. Finally, the CAFR is a series of audited financial statements. These statements have all been analyzed by the State Auditor's Office to ensure the City's funds are safeguarded and the City is expending them as they were legally appropriated. Introduction The Finance and Information Services Department (FIS) is responsible for the Management Representation of the contents of this report. FIS is charged with responsibility for the accuracy, completeness and fairness of presentation of information contained in this report. The department warrants that, to the best of our knowledge and ability, the data and disclosures reported are both accurate in all material aspects and they fairly represent Renton's financial position and results of operations of its various funds and account groups. This report must be and is prepared in accordance with the requirements of Washington State Law RCW 43.09.230 and in conformance with Generally Accepted Accounting Principles (GAAP). The Government Accounting Standards Board (GASB) has established GAAP rules to compare the fiscal health and spending patterns of various public entities to one another. By following these guidelines. we ensure the report contains required elements that are clearly understood by users of detailed financial information. One of the first requirements is to ensure the report contains the CAFR Contents. Thus, the report is organized in three sections: • The Introductory Section, which includes the Letter of Transmittal, the 2000 Comprehensive Annual Financial Report Award and the City's Corporate Organization Structure and Reporting Relations. • The Financial Section, which includes an Independent Auditor's Report and the Combined Financial Statements and accompanying note disclosures, followed by the Combining Financial Statements by fund type and account group. The Combined Financial Statements, together with the Notes to the Financial Statements, comprise the General Purpose Financial Statements, which provide an overview of the financial position and results of operations for the City. • The Statistical Section, which presents financial, economic, social and demographic data about the City. The Statistical Section is useful in revealing trends that have and may continue to affect the City of Renton. The GASB also requires the reporting organization to define the Reporting Entity. This report includes all City funds, account groups, agencies, boards and commissions that are controlled by, or dependent on, the City. Control by or dependence upon the City was determined on the basis of authority to appoint or remove the majority of board members; financial support including debt secured by revenue or general obligations of the City; and obligations of the City to finance any deficits that may occur; or receipt of significant subsidies from the City. The City of Renton is a participant in a consortium known as the Valley Communications Center. This is to provide consolidated emergency dispatch services for the cities of Federal Way, Auburn, Kent, Tukwila and Renton as owners. Many other fire, police and emergency operations also contract with the Center for the same services. The owner cities share a portion of support to the Center, based on the numbers of service calls provided to each entity. The Valley Communications Center is reported in the City's financial statements as a joint venture. This report does not include the financial position or operational results for the Renton Housing Authority. The City neither reviews their budget, nor is obligated to fund any of the deficits of the Authority. The City of Renton is responsible for providing basic life and safety services through our police, fire and building departments. The City provides a wide range of recreational 2 opportunities. It operates its own library system, manages two lake swimming areas, offers classes in its community and senior centers and provides a range of leisure activities in its l, 180 acres of active and passive parks. The City provides water to all citizens through its own system of aquifers, wells and from Cedar River water rights. As an adjunct to the water system, the City collects all sewer and surface water waste within the City and then transports that to the region-wide treatment system. Renton manages general maintenance and development of the city streets. It owns and operates a golf course and airport. In general. the City of Renton is a full service city, offering all of the services a large city has, but on a livable scale. Governmental Structure, Economic Condition and Outlook The City of Renton was incorporated in 190 l. Located at the south end of Lake Washington, our city borders the City of Seattle to the north. We currently have a land area of 16.90 square miles. We have l, 180 acres of parks that includes 26 active parks. Our 200 l population as presented by the Washington State Office of Financial Management is 51, 140. The City of Renton has a strong Mayor form of government. The Mayor is independently elected for a four-year term. His job is to manage and implement the policies established by the City Council. We have a seven member Council that establishes policies, appropriates monies through the budget process and adopts local laws through ordinances. Each Council Member serves a four-year term and they are elected on a staggered two-year cycle. Both the Council and the Mayor are elected on a non-partisan basis. II While the City has had a very aggressive and successful economic development program, The Boeing Company continues to be our largest employer. As illustrated later, the City of Renton is less dependent upon Boeing for our overall economic health, but nonetheless, they still have a significant influence within the City. Boeing builds the 737 and the 757 airplanes within our City limits. In 2001. they produced 344 planes at the Renton plant. The Boeing 737 Commercial Aircraft Headquarters is within our city limits. Boeing also has its Customer Service Training Center (CSTC) located here. At the CSTC, The Boeing Company trains pilots from all over the world in how to fly a Boeing aircraft in large flight simulators. While we are most proud of being the home of the most popular airplane in the world, we also began -almost a decade ago -an aggressive economic development program. Our dependence on Boeing's economic health had provided significant economic swings in the past. Over the past years, other major businesses growing or relocating within our boundaries include: Wizards of the Coast and Multiple Zones. In addition to these major corporations, we have also added significantly to our retail base with the location of an IKEA, Wal Mart and other major new retail and food stores. We are currently working with Target and Frye's Electronics in putting together their building plans. 3 In addition to the overall employment and economic growth, we are seeing substantial increases in our assessed valuation and housing growth. Between 2000 and 2001 our overall assessed valuation grew by 10.4 percent. This included over $230 million in new construction within the City limits. Further, to illustrate we have diversified our economy, Boeing now owns only 14.7 percent of our overall assessed value. This is 12.0 percent lower than 2000. Thus, the overall growth in our assessed value is coming from other properties. A total of l,048 homes sold within the city limits in 2001. This is almost the identical number sold in 2000. The median price of homes in Renton grew by 15 percent. This includes the sale of 38 homes valued at $400,000 or more, as compared to 30 homes in this price range during 2000. In 2001, total Boeing employment averaged 400 fewer employees during 2001 over 2000. Renton's total employment decreased by 212 employees -from 45,785 to 45,573. Thus, the overall employment in other sectors increased. Our retail sales tax base showed signs of slowing in 2001. However, we collected approximately $15.35 million in sales tax. This was 2.5 percent higher than 2000. We had been seeing double digit increases prior to 2001. We expect that our growth will continue to slow through 2002, but we do not expect a negative growth rate. In late 2000 and throughout 2001, the City's construction permits began to grow again for residential and commercial properties. This growth will take some time to translate into economic growth for our city. As illustrated in our major initiatives, we continue our ili:E:l efforts in economic development. In 2001, our total new building permit revenue was 1111 $1.4 million. We issued 4,756 permits -this was 2.5 percent more than 2000. However, most of the permits were for single family homes. The city issued 737 residential home permits and 446 of these were for single homes. Major Initiatives Each spring the Council and Mayor meet for two days to clearly articulate the focus of new initiatives for both the current year and the following five years. These initiatives, also known as Business Goals and Strategies, are used to guide workload priorities in the current year and budget priorities for the following years. Further, over the past five years since we have used this method of prioritization, the initiatives have remained rather consistent. This process has resulted in measurable successes in 2001 and dictates what we will be working on in 2002 and 2003. Finally, to guarantee success, the Council and Mayor limit these initiatives to five. Outlined below are the City's five goals in 2001 and the success strategy for each one. Encourage and Support Economic Development and Downtown Redevelopment, We had great success in 2001 in these areas. By the end of our l00th anniversary we had over 250 new, high end apartments in our downtown core. Three new small restaurants were opened A regional transit center opened in our downtown core. We approved a bond issue to build a parking garage to the north of the transit center. 4 Further, the new Performing Arts Center was started to the west of the new garage. This major facility will be a part of the renovation of one of the region's oldest high schools - Renton High School. The Performing Arts Center has over one million in private sector donations. At the south end of Lake Washington, there are now over l ,000 new multi-family housing units. These include both apartments and condominiums. Throughout 2001, a major development company continued building a major residential and commercial complex. The development known as Southport will include over 350 residential units, a hotel and 550,000 square feet of commercial and retail space, The City will be able to complete a major trail system and connect our Lake Washington bike/path trail to our Cedar River trail once the development is complete. By the end of 2001 the apartments were constructed and commercial space was being leased. Encourage and Support Neighborhood Revitalization, The most significant strategy within this initiative is a multi-year effort. Over the years the neighborhood known as the Highlands has emerged as an area that has great redevelopment potential. It is one of Renton's oldest areas with housing that was built during World War II to house aircraft workers. As the name implies, the area is elevated from the rest of the City and has some amazing views. It also has large areas of property that can be redeveloped for retail and housing uses. In 2001, the City set aside $1.fi million in our capital fund to invest in identified infrastructure as a match for redevelopment in that area. The City also acquired a shopping area of approximately one acre for the construction of a replacement Fire Station in the neighborhood. The current fire station is over 35 years old, and does not provide an enhancement to the neighborhood, Once Fire Station 12 is completed, it will be a showcase building. Further, it will be the home of the City's Emergency Operations Center. We also completed the replacement of the Highlands Community Center in late 2000 and 200 l. This Center now provides athletic and young activities for over 500 children. In addition, the City continues to allocate over $50,000 annually for small neighborhood grants. Neighborhood associations apply for these grants which must be matched with "sweat equity." In 2001, there were over 37 grants given for a total of $50,000. Promote the City's Image in the Community and Region. In 2001, we completed the third year of a comprehensive marketing plan with the School District, Renton Technical College, the Hospital District and the Chamber. This plan resulted in the development of a marketing slogan, consistent marketing materials and most importantly, a consistent theme. The results have been that when a business or developer contacts any agency about information about Renton, we are ensuring they receive a professional package of information about all the assets in our city. We believe this has generated more interest in being a part of our City as we have experienced more and more growth. We measure our success by the fact our neighboring cities started campaigns in late 2000 and in 2001. 5 Meet the Service Demands that Contribute to the Livability of the Community. Under this goal we measure our productivity efforts. The City continued its Performance Outcomes efforts in 200 l . This included surveys of citizens in the Fire and Police Departments. It also included an Electronic Government Survey of citizens requesting their interests in getting things from the City's WEB site. Finally, it included working on linking the budget to outcomes. The City sees this as a five year initiative, but is beginning to be able to link resources to services. Influence Regional Decisions that Impact the City. The region faced many property tax initiatives in 2001. One property tax initiative -known as Initiative 747 -limits property tax levy increases to one percent in the following year, plus new construction. While this will impact the City by 2005 and 2006, it began to immediately translate into serious issues for the County. The City began to work on various issues in 2001 regarding the impacts. The City began to review long term options for jail services with other counties. We developed strategies for the City's reaction to the County's interest in wanting to close all parks and pools and transfer responsibility. This will continue to be a major initiative for 2002 and beyond. Financial Information, Management and Control A detailed understanding of the financial position and operating results of the City is provided in the CAFR. Presented below is a brief description of financial information, management of financial resources and obligations and control techniques applicable to financial resources, obligations and information. Basis of Accounting. The basis of accounting used determines when revenue and iil' expenditures or expenses are recognized in the accounts and reported in the financial 111!1 statements. All governmental funds and expendable trust funds are accounted for using the modified accrual basis of accounting. Revenue is recognized when measurable and available. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. All proprietary funds and non-expendabl€ trust funds and pension trust funds are accounted for using the accrual basis of accounting. Under this basis of accounting, revenue is recognized when earned and expenses are recognized when incurred. Accounting Systems and Budgetary Control. One of the City's primary functions is ensuring the highest level possible of internal accounting controls. The Finance and Information Services Department, working with all other departments, develops accounting procedures, policies and organization to focus on the safeguarding of all the City's assets and the reliability of financial records. The procedures, policies and organization provide reasonable assurance that: • Transactions are ex-ecuted in accordance with management's general or specific authorization. • Transactions are recorded as necessary (1) to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria, such as finance-related legal and 6 contractual compliance requirements applicable to such statements and (2) to maintain accountability for assets. • Access to assets is permitted only in accordance with management's authorization. • The recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The definition of accounting control incorporates reasonable, but not absolute assurance that the objectives expressed in it will be accomplished by the system. The concept of reasonable assurance recognizes that the cost of internal control should not exceed the benefits to be derived. The benefits consist of reductions in the risk of failing to achieve the objectives implicit in the definition of accounting control. Within the City of Renton we believe all our internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. The Washington State Auditor's Office (SAO) and the laws of Washington State establish budgeting and accounting rules known as the Budgeting, Accounting and Reporting System (BARS). The City is annually audited by the SAO to ensure we are in compliance with the system. Budgetary control is maintained at the department level by the encumbrance of estimated purchase amounts before the release of purchase orders to vendors. The City has not had an experience where a department encumbers more than it has appropriated. If an unanticipated need arises, the Mayor, Finance Department and department return to the City Council for additional appropriation authority. Open encumbrances are reviewed at the end of the year. They are either closed as the purchase is no longer valid, or they are reported as reservations of fund balances as of December 31, 200 l . The City receives resources from other State and Federal agencies under a variety of programs. Resources received from the State and Federal government are subject to various specified controls and compliance standards. The SAO annually reviews these expenditures for compliance. Monies received from the Federal government are also subject to audit according to standards established by the Single Audit Act and 1996 Amendments and related OMB Circular A-133. Both State and Federal grants require the City design, implement and monitor an internal control structure that satisfies each grant. Further, the City is also audited by the Washington State Department of Revenue to ensure compliance with various tax laws. Any audit reports prepared separately than the annual SAO audit is not included in the Comprehensive Annual Financial Report, but can be provided upon request. The City has had no material findings in any other audit. Fund Descriptions The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operation of each fund is accounted for by a separate set of self-balancing accounts that comprise its assets, liabilities and fund equity, revenue as applicable, expenditures and expenses. The 7 individual funds account for the governmental resources allocated to them for the purpose of continuing specific activities in accordance with special regulations, restrictions or limitations. The funds used by the City are grouped into the following fund types. Governmental Funds, Governmental funds are used to account for the programs and activities of the governmental functions of the City. General Fund: The General Fund serves as the general fund. In this fund we account for all the costs of public safety, building, planning, human services, general administration and all other activities and financial resources except those required to be accounted for in another fund. Special Revenue Funds: Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. We have special revenue funds for our parks, library and street activities, as well as several other activities. The City also allocates general governmental revenue, such as property tax, to these funds to help offset the costs of these activities. Debt Service Funds: Debt Service Funds are used to account for the resources devoted to the payment of interest and principal on long-term capital obligation debt other than those payable from specific governmental funds and Enterprise Funds. Capital Projects Funds: Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other Ii than those financed by Enterprise Funds). Proprietary Funds. Proprietary funds are used to account for ongoing organizations and activities that are similar to those found in the private sector. Enterprise Funds: Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises. The intent is that costs (expenses, including amortization and depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. Internal Service Funds: Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the governmental unit, or to other governmental units, on a cost reimbursement basis. Fiduciary Funds. Fiduciary funds are used to account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations and other governmental units and funds. 8 Trust and Agency Funds: Trust and Agency funds are used to account for assets held by Expendable Trust Funds, Pension Trust Funds and Agency Funds. Account Groups. In addition to the several generic funds described above, the City uses account groups to establish accounting control and accountability for the City's general fixed assets and general long-term debt. The two account groups are described below: General Fixed Assets Account Group: The General Fixed Assets Account Group is used to account for all fixed assets of the City other than those accounted for in proprietary funds and certain fiduciary funds. General Long Term Debt Account Group: The General Long Term Debt Account Group is used to account for all long-term debt of the City except debt accounted for in specific governmental funds. proprietary funds and certain fiduciary funds. General Government Functions. These are general municipal activities and services. The activities include, but are not limited to, public safety, parks. library, building, planning, courts, legal. debt costs and general administration. Within these funds are the capital funds. General Fund: In 2001, we collected $3.9 million more in revenue than we expended. This increase came primarily from utility taxes and charges for services. We continue to see building related fees much higher than we anticipated. We had a one year premium from what was occurring in the electric and gas industry throughout 2001. REVENUE 2001 2000 Taxes $31,482,675 $29,822,126 Licenses And Permits 2, 110,600 2,568,757 Intergovernmental Revenue l ,966, 122 2, 156,609 Charges For Services 4,196,915 4,129,214 Fines And Forfeits 944,671 974,273 Contributions 101,783 36, 193 Interest l,208,435 l ,318,783 Miscellaneous Revenue 158,530 64,258 TOTAL REVENUE $42, 169,731 $41,070,213 Expenditures from the General Fund amounted to $38,265,536 as of December 31, 200 l. This was 4.2 percent above 2000 levels. In our operating budget labor costs are the main driver of cost increases. The expenditures were as follows: 9 EXPENDITURES 2001 2000 Current: General Government $ 8,977,920 $ 8,512,651 Security Of Persons And Property 23,596,319 22,861,304 Physical Environment 1,878,916 l ,769,012 Economic Environment 3,487,376 3,345,054 Mental And Physical Health 6,756 8,599 Culture and Recreation 177,039 25,370 Capital Outlay 141,210 194,351 Debt Service: Principal Retirement 0 0 Interest & Fiscal Charges 0 0 TOTAL EXPENDITURES $38 ,265 ,536 $36,716,341 Special Revenue Funds: The Park, Library and Street Funds provide the next level of general services after the General Fund. Also, in this fund type is the Hotel/Motel Fund used for our marketing work. Debt Service Funds: With the exception of revenue bonds and other debt issued by Enterprise Funds, long-term debt is serviced through these types of funds. During 2001, the City collected $2.9 million dollars in property taxes and $304,000 from assessments for the payment of $3. l million dollars in debt service annual requirements. The City issued $6 million in new debt in 2001 for the construction of a parking garage. I The debt was issued as Limited Tax General Obligation Bonds. Capital Project Funds: The City has seven funds for capital improvements. In 2001, the City began construction of a downtown parking garage. In the Capital Improvement Funds the City tracks all transportation capital improvements, park and general improvements. The most significant expenditure in 2001 occurred in the Fire Mitigation Fund. The City purchased two pieces of property for the construction of fire stations. One is for a replacement station in the Highlands neighborhood. The second was in the Kennydale neighborhood. The City does not need a fire station there at this time. However, as the City continues to grow denser along the lakefront, we will need to build and staff a fire station in that neighborhood within seven to ten years. Proprietary Operations. Within these funds the activities the City provides are operated similar to a private function. The fees must cover the program costs and other revenue earned. The City owns and operates its own water utility. We do not purchase water from the City of Seattle like many of our neighbors. This one fund is the largest of all the proprietary funds. Further, this fund must cover the costs of all its capital requirements. The building of the water infrastructure is the one area that changes the most dramatically from year to year, depending on environmental requirements. 10 Enterprise Funds: The Water Utility Fund had an operating income of $1.986 million dollars at the end of the year. Because of this cash surplus and the fact that environmental requirements have added complexity to general project construction, we did not have to borrow any funds in 2001 to meet the fund's capital requirements. The City had no rate increases in 2001. Renton residents are also charged a monthly fee from King County for their costs in providing regional water treatment. The City is responsible for billing and collecting this fee for King County. The Airport had few fiscal issues in 2001. During the year, the Airport management focused completely on a citizen review of its long term operating plan. The Renton Airport is the home of every 737 and 757 maiden flight. In addition to that, we have many leases with small airplane owners. However, the airport sits in a prime location at the south end of Lake Washington and is surrounded by single family homes. In 2001, the City began a review of a 20 year strategic plan for the site. It ended with a decision that as long as Boeing remains in our City, we will continue to operate the Airport basically the way it is today. In 2001, the City completed its first year in a new contract with a third party vendor for curbside collection of solid waste, yard waste and recycling. The City had expected the new contract would require a five percent increase. However, as the year progressed, we chose to use fund equity to cover any shortages. We ended the year with a fund equity of over $900,000. We did increase rates by five percent in 2002. However, we did shift responsibilities back onto the contractor in this new contract, and we are seeing a more stable revenue and expenditure stream now. Ii The Maplewood Golf Course continues to exceed expectations. In 2001, the operations earned approximately $455,000 more than expenses. There were 600 more rounds of golf sold. The income from the rental of golf and pull carts is a growing line of business that generated over $195 ,000 in 2001. Internal Service Funds: These funds are used to track the City's costs of certain activities. The Equipment Rental fund tracks the costs of maintaining the City's rolling stock. The City self-insures its employees basic health, dental and industrial insurance costs. In addition to these costs, the Insurance Fund also pays for all liability claims up to a maximum of $250,000. If a claim is above this limit, the City has purchased various insurance coverages from independent brokers to cover such claims. In 2001, the City continued its focus on building reserves in the Equipment Rental and Insurance funds. We are building reserves in Equipment Rental to ensure the timely replacement of large rolling stock. We estimate that each year we spend $850,000 to $1,000.000 for regular cars and trucks. Each third year this amount will increase by $350,000 to $750,000 to purchase one or two large pieces of rolling stock. 11 In 2001, we spent $1,000,000 on capital equipment. This included our normal purchase of ten police car replacements and other standard stock. In late 2001, we purchased a new police SWAT vehicle. The Equipment Rental fund ended the year with $3 million in cash reserves for future replacements. The City is a participant in the Washington Cities Insurance Authority 0NCIA). As stated earlier we have property and liability insurance with them. The City self-funds our routine health, dental and medication expenditures. In 2001, we began to see health care costs increase. Our first priority is to ensure those costs are met prior to adding any new programs. Finally, in 2001, the Mayor and Council prudently set aside an additional $2. l million into the Insurance Fund as addition to our Rainy Day reseNe. We began to see the economy slowing, and they wanted to make certain we had cash to address any short term issues, if the economy entered a recession. At the end of the year, we had a $5.2 million fund equity. Fiduciary Fund Types. In the City of Renton these funds include the Firemen's Pension Fund, Special Deposit Fund, and Payroll Clearing Fund. Firemen's Pension Fund: This fund must be maintained by the City to pay the retirement benefits for all fire officers who were employed prior to 1977. The City ended the year with over $8 million in assets to cover future costs. An actuarial study is conducted to determine the future needs of this fund. The City is in the process of updating the biennial actuarial study. However, the last study noted we would need less than $6 million for call costs. These investments are now invested in Federal Treasury instruments. Special Deposit Fund: This is a holding fund for deposits and other special revenue. When the obligations of the receipts have been made, we release the monies. It is a small impact on our overall operations. Payroll Clearing Fund: This fund is used to account for payroll liabilities outstanding at various times during a payroll cycle. Debt Administration. The ratio of net tax-supported bonded debt to assessed valuation and net tax-supported bonded debt per capita are useful indicators of the City's debt position. A comparison of these ratios follows. 2001 Net tax supported bonded debt $27,586,389 Net tax supported bonded debt per capita $539 Net tax supported bonded debt as a .54% percentage of assessed valuation. 12 2000 $22.248,983 $461 .49% The City's latest bond issues were rated as follows: General Obligation Bonds (200 l) Water/Sewer Revenue Bonds (1998) MOODY'S N/A Al FITCH AAA A+ STANDARD & POOR'S AAA A+ Cash Management and Investments. The City has an adopted Cash and Investments policy that states the primary objectives of cash and investment management in priority order are safety, liquidity and return on investment. As of December 31, 2001 Renton had $73,792,677 in cash and investments. Risk Management. In late 1998 the City significantly changed its insurance strategy by joining the Washington Cities Insurance Authority (WCIA). The WCIA is a consortium of Washington State cities that purchases excess coverage in large blocks, thus leveraging the market. It has a professional staff, but is provided monthly oversight by a board made up of City representatives. In most cases the City has a deductible that ranges from $25,000 to a maximum of $250,000. In addition, the City purchases excess medical coverage from Safeco; and life and disability insurance from UNUM. Independent Audit The financial records, books of accounts and transactions of the City and its components for the fiscal year ended December 31 , 200 l , have been audited by the State of Washington Auditor's Office (SAO) as mandated by State law. Their opinion is 1\1 included in the Financial Section of this report, The financial statements are the responsibility of the City, The responsibility of the SAO is to express an opinion on the City's financial statements based on their audit. An audit is conducted in accordance with generally accepted auditing standards. Those standards require that the audit be planned and performed in a manner to obtain a reasonable assurance as to whether the financial statements are free of material misstatement. Awards The Governmental Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 2000. In order to be awarded a Certificate of Excellence, a governmental unit must publish an easily readable and efficiently organized Comprehensive Annual Financial Report, the contents of which conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. 13 A Certificate of Excellence is valid for a period of one year only. We believe our current report continues to conform to the Certificate of Excellence Program requirements and we are submitting it to GFOA to determine its eligibility for another certificate. Responsibility and Acknowledgement The Finance and Information Services Department prepared the Comprehensive Annual Financial Report for the fiscal year ended December 31, 2001. We believe that the information presented is accurate in all material respects and that this report fairly presents the financial position and results of operations of the various funds and account groups of the City. The preparation of the Comprehensive Annual Financial Report results in the document here before you. However, without the dedication of staff both in the Finance Division and throughout all departments of the City, this Report would not be possible. The Report is completed in a timely manner by the Finance Division staff, led by Gina Jarvis, the City's Accountant with her staff, Linda Dixon and Nancy Violante. DeAnna Fricke, the department's administrative lead, is charged with organizing the document for printing. I would like to express my appreciation, in particular, to my staff and then to all personnel throughout City Hall that ensure our financial records are maintained appropriately, timely and accurately every day of the year. Also, I would like to thank the Mayor and City Council for their continued interest and support in the financial operations of the City. Respectfully submitted, Victoria A Runkle Finance & Information Services Administrator 14 Certificate of Achievement for Excellence in Financial Reporting Presented to City of Renton, Washington For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 2000 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers A.ssoclatlon of frie United States and Car:ada to goverr:ment units and public err,ployee re1iremer:t sy'Stems whose comprehensive an.r;ual financial reports (CAFRs} achieve the highest standards in gover:1ment accounting and financial reporting. cY~de~ j)ff:;:/k Execut'.ve Directc: 15 H H 4 CITY OF RENTON CORPORATE ORGANIZATION STRUCTURE RENTON CITIZ~ ' CITY COUNCIL MAYOR MUNICPAL COURT JUDGE Torn Neiron . R'oodenl_ Kathy Koolker·Whoo!er, ~Ta1rl€1 Terry Jura'.Jo Tern [}1ere. Dai OaMJ:m, fUldy Ccrmm, 425 431Hl5()0 425 430}1550 K,ngftr'.><:er, & Donl'\Jf®n 425 430..£501 I CHIEF A.OM!NISfRATIVE OFACER ,bf Covmg!on 425 430--6500 COMMUNITY SERVICES Pl.ANN ING; BUI LOIN GI ECONOMIC DEV, NSGHBORHOODS, ADMINISTRATIVE, JUDICIAL & Jm Siephad_ AdmirnSHa:or >--PUBLIC WORKS & STRATEGIC PLANNING f--LEGAL SERVICES 425 430-6600 Grll\I) Zimmerrmri. Admirnstrator &ie Cairon, AdmmtS:raor 425 430-£500 425 430·7394 425 430.£560 Fa:lli!ies I [)a.elopmem Slrv1teS I i Eoo!lOffilC Da>iaklpmenl I H M~or·sOf!ice I Dermis Culp, O.redor Niel Wii1s.. Director Alexaider Rets::h, Director Dera<: Todd -'~ I Tr~r;t1on £¥,terns I H Neigtibofhoods I d Ci!y ClerklCii:lle Mm<'g<.¥ I 9,rlviaAllen, Di1ector SniraMeyer, Director Ebnn;e W<iton ' '""' I U1ility ~stems I ~ 9:raegc Rammg I ! Court S:irv1ros I LOOie Bl!la::h, Director LysHornfty. Director H ..be McGwre. Director Llbray I Manten;:ru;:e SJrv,oas I Hea-mg Ex;ynmer I Clai<. ~0f9illl, Dirndor .m. Crumley, Direclor Frnd Krutmrn Humai So/Vices I i Crty Attorney I Kaeo Masia1 Waren Eab& fi::intes P.S roucE ARE HUMAN RESOURCES & ANANCE & Gmy Am:li:!rron_ Ct\!ei ~ A Lee Wfleeier_ Chief RISK MANAGEMENT INFORMATION SERVICES -425 430·7507 425 430·7501 Micha'J! WOO!:Iy, Admnuslraor Vidon.a~nkle, Adrn!rnS'ntor 425 430-7650 425 430--6il58 OperiiionstS;pport I y o"""''~ I y Rill< Maia;iement I H Rs:<i Si!vices I ~R:ix!'i-~iyCh1ei Ar: La:ron_ Deputy Fire Chief Pali Ku~ Director y H Humifl Resources I H intorma1ori &o/VteeS I H Altro! Operttions i &!ppre$cn I 1 I 4 Rio1 & Mal OP"•-1 CNd SirvK:e Comm1g,i0!'1 H Pitre: &irv<CeS I ~ Adrn1rnsr<iron/$Jppo1 &¥vices I Glen O:m.too. Depu!y Rie c:t11ef H I I !~ig;t<0r.s H T1;irnflgfuppoli I ""~ ~ Ad11w11strat1ve S;.rv;ces I I foe R"evreiion I I 9.iit SYv:ces I &n&~~;~t I Awnhay~ ! ! 16 INDEPENDENT AUDITOR'S REPORT June 13. 2002 The Honorable Mayor and City Council City of Renton Renton, Washington We have audited the accompanying financial statements of the City of Renton, King County, Washington. as of and for the year ended December 31, 2001, 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 audtting standards generally accepted in the United States of America. Those standards require that we plan and perfonn the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management. as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Our audit was perfonned pursuant to the Revised Code of Washington 43.09.260, under which a full report on the results of this audit will be issued. This report may include findings and recommendations on compliance matters, internal control procedures, and questionable costs or contingencies that would not be material in relation lo the City's general purpose financial statements taken as a whole. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of !he City of Renton, King County, Washington, as of December 31, 2001, and the results of its operations and cash flows of its proprietary fund types for the year then ended in confonnity with accounting principles generally accepted in the United States of America. Our audit was made for the purpose of fanning an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Renton, King County. Washington. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all matelia! respects, in relation to the 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. Sincerely, BRIAN SONNTAG, CGFM STA TE AUDITOR " THIS PAGE INTENTIONALLY LEFT BLANK 18 GENERAL PURPOSE FINANCIAL STATEMENTS DECEMBER 31, 200 l The General Purpose Financial Statements are the combined financial statements that, together with the accompanying notes, constitute the minimum financial reporting needed for fair presentation in conformity with Generally Accepted Accounting Principles. 19 COMBINED BALANCE SHEET -ALL FUND TYPES AND ACCOUNT GROUPS DECEMBER 31, 2001 WiTH COMPARAT!VE TOTALS FOR DECEMBER 31. 2000 (PAGE 1 OF 2) GOVERNMENTAL FUND TYPES ASSETS: Cash and Cash Equivalents -Note ,} Cash \Nith Fiscal Agent Investments at Fair Value -Note 3 Receivables. Ner of Aiiowonce for Uncollectibies-Note 5· Due From Other Funds Note 5 Due From Other Governmental Units -Note 5 Inventory of Material and Supplies -Note 1 Prepaid Items -Note 8 Investment !n Joint Venture Note 9 Restncted Assets: Deposits Revenue Bond Debr SeNice Construction Account interfund loans/ Advances -Non-Current -Note 5 Note Receivable -Non-Current -Note 5 Fixed Assets (Net) -Note 1 & 7 Construction in Progress Note 7 Deferred Charges and Other Assets Note 13 Avoilabie in Debt Service & Capita: Project Funds Amount To Be Provided long Term Debt Retirement TOT AL ASSETS UABiUTIES, EQUITY AND OTHER CREDITS UABIUTIES Vouchers/Contracts Payable Retainoge Payable Due To Other Funds -Note 5 Due To Other Governmental Units Note 5 Payables -Note 5 Deferred Revenues Liabilities Payable from Restricted Assets· Deposits Payable Capitol Leases Payable-Current-Note 12 Revenue Bonds Payable -Current Portion-Note 12 Deposits Payable General Obligation Bonds Payable -Note 12 s s s Special Assessment Debt With Government Commitment-Note Revenue Bonds Payable -Note 12 Unamortized Discounts on Revenue Bond Accrued Employee Leave Benefits -Note 1 & 12 lntertund Loans/ Advances Non-Current~ Note 5 Claims incurred But Not 1<eported -Note 17 Capitol leases Payable -Note 12 !nstaliment Purchase Contracts -Note 12 Public \.Yorks Trust Fund Loon Payable Note 12 TOT Al LiABILITiES FUND EQUITY AND OTHER CREDITS: Fund Balance Reserved -Note 1 & 14 Unreserved -Designated ~ Note 14 Unreserved -Undesignoted Contributed Capitol Retained Earnings· Reserved Note 1 & 14 Unreserved !nvestments in Joint Venture/General Fixed Assets TOTAL FUND EQUITY AND OTHER CREDiTS GENERAL 6,562,612 s 0 753,059 4,621,692 7,378 162,705 0 8.000 0 0 0 0 75.000 0 0 0 0 0 0 12.19Q446 $ 672,565 $ 0 104,827 1,332,776 2,921 3.077.534 0 0 0 44,299 0 0 0 0 209,156 0 0 0 0 0 5.444D78 318,053 130,391 6,297,924 0 0 0 0 SPECIAL REVENUE 5,400.249 $ 0 0 87,092 23,524 61,038 0 0 0 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE 2,475.267 292.0CJO 0 733.628 52,496 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5571903 $ =="'"5"53,..30.,.1= 460.278 $ 0 0 0 7.005 0 0 0 0 23,200 0 0 0 c 68,399 75,000 0 0 0 0 633.882 0 0 4.938,02 i 0 0 0 0 0 s 0 0 0 292.000 715.262 0 0 0 0 0 0 0 0 0 0 0 0 c 0 1,007,262 2,546, 129 0 0 0 0 0 0 6,746,368 4.938.021 2546, 129 CAP:TAL PROJECTS 29.755,393 0 0 193,584 52,332 1,491.081 0 0 0 0 0 0 920.000 0 0 0 0 0 0 32412390 L079,407 298,951 22,147 0 38204 0 0 0 0 0 0 0 0 0 0 920.000 0 0 0 0 2,358,709 920.000 0 29. 133,681 0 0 Q 0 30,053,681 TOTAL LIAB!LIT!ES, EQUITY AND OTHER CRED!TS s 12 19Q 446 $ ==:!5:.5='=' '"90"3'= 3 553 39' $ =='3"2"4"'12,...190"'= THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 20 s s s COMBINED BALANCE SHEET~ ALL FUND NPES AND ACCOUNT GROUPS DECEMBER3l,2001 VJITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000 (PAGE 2 OF 2) PPOPRiETARY FUND TYPES FIDUCiARY ACCOUNT GROUPS ENTERPRiSE: 6,1309D90 0 0 4.738,830 0 949.172 358,300 0 0 25.439 4,674,028 0 0 0 165.455959 4,969,384 94,464 0 0 188Q74666 s l, 185,408 308,254 8,755 504,807 400,718 152,246 100,298 38,418 2.030,000 0 0 0 21,040.000 (1.238, 150) 407,153 0 0 7238 0 7.389.550 32,334,695 0 0 0 116,224,690 8,624.119 30,891,162 0 155.739,971 188074666 s lNTERNAL SERVICE l ,825,525 $ 0 LY9L800 1 18,555 0 0 105, 40 3,000 0 0 0 0 0 0 4.814,126 0 0 0 0 14 858 146 $ 88,475 s 0 0 0 3,113 0 0 0 58,316 0 0 0 0 39,098 0 1509,544 0 0 0 1,698,546 0 0 0 2282,377 0 10,877223 0 13,159,600 14 858 146 s TRUST AND AGENCY L3L16.207 $ 0 6,174,008 1.135.261 0 0 G 0 0 0 0 0 0 0 0 0 0 0 0 8655476 $ 0 s 0 0 0 33 0 0 0 0 434,991 0 0 0 0 0 0 0 0 0 0 435,024 8220,452 0 0 0 0 0 GENERAL FIXED ASSETS 0 0 0 0 0 0 0 0 4,087.259 0 0 0 0 0 125,475,631, 4,699.243 0 0 0 p,4 262 133 s 0 s 0 0 c 0 c 0 c 0 0 0 c 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34.262. 33 8.220.452 34.262, 33 8 655 476 $ ==3=4=2=62""'3"'3" GENERAL LONG TERM DEBT 0 s 0 0 c 0 0 0 0 0 0 0 0 0 0 0 0 0 2,546,129 3Ll03J73 33 649 902 s 0 0 0 0 0 0 0 0 0 29,095,583 l35JJOO 0 0 4,225,611 0 0 0 l93J08 0 33.649,902 0 0 0 0 0 0 0 0 }3 649 902 s THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMEN1 21 COMPARATIVE TOTALS (MEMORANDUM ONLY) 2001 2000 C.0,174,343 292.0'JJ 8,918.867 11,628,642 135.730 2,663.996 463,440 11.000 4.087.259 25,439 4,674,028 0 995,000 0 295.745,716 9,668.627 94,464 2,546,129 31,103.773 433 228 453 $ 3.486,133 s 607205 135.729 1 .837,583 743,994 3,945,042 100,298 38,418 2,030,000 560,806 29,095,583 135.000 21,040,000 (l,238,150) 4,949,417 995.000 1.509.544 7.238 193.708 7,389,550 77 .562,098 12,004.634 130391 40,369,626 118.507 ,067 8,624,119 41,768,385 134.262, 133 355.666.355 4'<3 228 453 s 22,025)71 391,000 41,061,196 11,094,808 289,113 2.569,032 490.543 11.000 2,546,163 120,946 4.99L315 1,260,390 1,255,000 21,041 280,300,075 8,327,186 48Jl00 2,653,495 26,236,595 405 692 669 3,089.255 398.850 289,112 2,401,372 823,878 3,680,387 160,569 40.954 l950DOO 333,849 24,126,908 320,000 23,070,000 (l ,412,476) 4,923,199 1,255,000 1 }61.,964 45,656 218,830 8,009,825 75,487,132 11,0l 1,388 132529 35,361,809 110,644,755 l0922D88 35.423, 152 126,709.816 330 .206 ,53 7 405-692 669 COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR ALL GOVERNMENTAL FUND TYPES REVENUES Taxes Licenses And Permits Intergovernmental Revenues Charges For Services Fines And Forfeits lntertund i\'evenues Special /\ssessments contributions Interest Misceiloneous Revenues TOTAL REVENUES EXPENDITURES Current: General Government Security Of Persons And Property Physical Environment Transportation Economic Environment Mental And Physical Health Culture and Recreation Capital Outlay DebtSeNiCe Principe! Retirement Interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANC!NG SOURCES (USES) Proceeds Of Long~Terrr, Debt Operating Transfers in Operating Transfers (Out) Saie Of Genera! Fixed J\ssets Funds Remitted to Bond Trustee TOTAL OTHER FINANCING SOURCES (USES) EXCESS (OEF!ClENCV) OF REVENUES YEAR ENDED DECEMBER 31, 2001 WITH COMPARAT!VE TOTALS FOR DECEMBER 3L 2000 (PAGE 1 OF 1) GENERAL s 31,482.675 s 2, 110,600 1.966.122 4, 196.915 944,671 0 0 101,783 1,208,435 158,530 42,169]31 8,977.920 23,596,319 1,878.916 0 3,487,376 6.756 177 D39 141,210 0 0 38.265,536 3,904,195 0 0 (5,550,000) 55,168 0 (5,494,832) GOVERNMENTAL FUND TYPES SPECIAL REVENUE 14,431,447 $ 40,568 L357,694 1,631,534 34,046 0 0 15,406 235,070 510,847 18256.612 2.084,978 0 0 5,545,590 990.159 0 7.083,039 34,992 0 0 15,738,758 2,517,854 75,000 63.085 (l,6i6,700) 517 0 DEBT SERVICE 2,888.502 $ 0 0 0 0 0 303.939 0 201,515 0 3.393,956 0 0 0 0 0 0 0 0 2,086,447 1.003.044 3.089.491 304,465 14,029,950 77,650 (710,000) 0 (13,809.431) (411.831) CAP.ITN.. PROJECTS 1,323,782 $ 1.967,436 2.466,742 1.481,529 0 103,800 0 74,688 658,732 610.711 8,&37.420 128.716 0 0 8.330,168 9,052 0 0 5.200.619 0 203,231 13,871.786 (5, 184,366) 5,947,691 6,710.209 (996,594) 6,000 0 11,667,306 AND OTHER FiNANCING SOURCES OVER ----- EXPENDITURES AND OTHER FINANCING (J,' (i ,590.637) 1,039,756 (107,366) 6.482,940 FUND BALANCE JANUARY 1 Residual Equity Transfers In Residuai Equity Transfers Out FUND BALANCE DECEMBER 31 $ 8,337,005 0 0 6746368 $ 3,898.265 c 0 4.938 021 $ 2,653.495 0 0 2546129 $ 23,570,741 0 0 30053681 $ THE ACCOMPANYING NOTES ARE AN INTEGl?AL PAl?T OF THIS STATEMENT 22 COMPARATIVE TOTALS (11/E."JiOl~ANDUM ONLY) 2001 50,126.406 s 4, ll8.604 5,790,558 7,309.978 978,717 103,800 303,939 191,877 2.303,752 L280,088 72.507.719 l 1.19L614 23,596.319 1.878.916 13.875,758 4.486,587 6.756 7.260.078 5.376,821 2.086.447 1.206.275 70,965.571 L542.148 20,052.641 6,850,944 (8,873.294) 61,685 (13 ,809 ,431) 4.282,545 5,824,693 38,459,506 0 0 44 ?84 199 $ ?000 47.862.401 4.557,9)4 6,900,296 7,&14,827 1,008,098 0 377,858 63,592 2,974,528 712.081 72,301,595 10.857,922 22,861.304 1.769,012 10,320,719 4,335.946 8,599 6,602.437 7.446,775 2.481,025 1208.281 67,892,020 4.409.575 0 3,647,561 (3,662,809) l,040,404 0 l ,025, 156 5,434,731 33,024,775 955,000 (955,000) 38-459 506 Ill COMBINED STATEMENT OF REVENUES, EXPENDITURES A.ND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE, DEBT SERVICE, AND CAPITAL PROJECTS FUND TYPES VEAR ENDED DECEMBER 31,2001 WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 2000 (PAGE l OF 4) GENERAL FUND BUDGET ACTUAL REVENUES Taxes s 31,600,824 s 31 ,425,590 s Ucenses And Permits 1,518,800 2,058,472 lntergovernmentai Revenues 1,706,000 l,899,550 Charges For Services 3,790,550 4,149,310 Fines And Forfeits 789,600 959,047 Specia\ Assessments 0 0 Contributions 15,000 101,783 interest 918,000 1,491]89 Miscellaneous Revenues 24,000 157,877 TOTAL ·i<EVENUES 40.362.774 42,243.418 EXPENDITURES Current· Genera\ Government 9.468.064 8,979,435 Security Of Persons And Property 24,250, 184 23,569.864 Physical Environment 1,947,827 1.878,956 Transportation 0 0 Economic Environment 3,882,905 3.485,129 Mentai And Physical Health J0,500 6,756 Cuiture and Recreation l2L630 176,966 Capital Outlay 139]95 140,554 Debt Service Principal Retirement 0 0 Interest & Fiscal Charges 0 0 TOTAL EXPENDITURES 39,820,905 38237.660 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 541.869 4,005.758 OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt 0 0 lnterfund Loon Proceeds 0 0 !nterfund loan Repayments 0 0 Operating Transfers In 0 0 Operating Transfers (Out) (5,500,000) (5,550,000) Sale Of Generoi Fixed Assets 0 55.168 TOTAL OTHER FINANCING SOURCES (USES) (5,500,000) C5A94,832) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANC\NG USES (4.958.13)) (1.489 .07 4) FUND BALANCE JANUARY 1 7,744.589 7,744,589 Residual Equity Transfers In 0 0 Residual Equity Trori.sfers (Out) 0 0 FUND BALANCE DECEMBER 31 s ? 786 458 $ 62"§§1§ s THE ACCOMPANY/NG NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 23 VARIANCE FAVORABLE <UNFAVORABLE> (175234) 539,672 193,550 358,760 169,447 0 86,783 573,789 133,877 1,880,644 488,629 680,320 68,871 0 397 ,776 3,744 (55,336) (759) 0 0 1,583245 3,463,889 0 0 0 0 (50,000) 55.168 5,'168 },469,057 0 0 0 3 469 Qf7 COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BAlANCES, BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE, DEBT SERVICE, AND CAPITAL PROJECTS FUND TYPES YEAR ENDED DECEMBER 31, 2001 Vv'ITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECE!'v'iBER 31 2000 (PAGE 2 OF 4) SPECIAL REVENUE FUND TYPES REVENUES Taxes Licenses And Permits lntergovemmentoi Revenues Charges For Services flnes And Forfeits Special Assessments Contributions Interest Miscellaneous Revenues TOTAL REVENUES EXPENDITURES Current· General Government Security Of Persons And Property Physical Environment Transportation Economic Environment Mental And Physical Health Culture and Recreation Coprta! Outlay Debt Service· Principal Retirement Interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FiNANClNG SOURCES (USES) Proceeds Of Long-Term Debt lnterfund Loan Proceeds !nterfund Loon Repayments Operating T ronsfers in Operating Transfers (Out) Saie OT General Fixed Assets TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEF!CiENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY l Residual Equity Transfers ln Residua! Equity Transfers (Out) FUND BALANCE DECEMBER 31 s BUDGET ACTUAL 12.444.786 14,431.447 20,000 39,610 1,340,575 1,342,848 1,566,290 1,635.696 27,500 34.046 0 D 1.000 15,406 148,300 J59,745 485,000 490,091 16.033.451 18,148,889 2, 190,867 2,085,311 0 0 0 0 5,853,876 5,544,364 1,067,893 990,345 0 0 7,268,662 7,086,090 106.100 34,992 0 0 0 0 16,487,398 15,741.102 (453,947) 2,407,787 0 75,000 0 0 0 0 63,100 63,085 (1,603,500) (l,6i6,700} 0 517 (1.540,400) (1,478.098) (1,994,347) 9-29,689 3,851,128 3,851,128 0 0 0 0 11222 7~1 47§Qa17 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 24 VARIANCE FAVORABLE <UNFAVORABLE> $ 1,986,661 19,610 2.273 69.406 6,546 0 14.406 11.445 5.091 2,115,438 105,556 0 0 309,512 77.548 0 182,572 71.108 0 0 746,296 2,861,734 75,000 0 0 (15) (13.200) 517 62,302 2.924.036 0 0 0 $ 2 9,4 03Q a $ COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL GENERAL SPECIAL REVENUE, DEBT SERVICE, AND CAPITAL PROJECTS FUND TYPES YEAR ENDED DECEMBER 31, 2001 \}JITH COMPARATIVE ACTUAL TOTALS FOR YEAR E~~DED DECEMBER 31 2000 (PAGE 3 OF 4) DEBT SERVICE FUND NPES CAPITAL PROJECTS FUND TYPES VAR!ANCE VAR!ANCE FAVORABLE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE> 2.527,715 s 2,963,100 s 435,385 s 1,250,000 $ 1.398,393 s 148,393 0 0 0 2,0-00,[)f'J) l,967,436 (32,564) 0 0 0 2,409.24 1 2.886,705 477,464 0 0 0 975,000 L516.532 541,532 0 0 0 0 0 0 309,657 333,056 23,399 0 0 0 0 0 0 0 74,688 74,688 98,911 172.908 73,997 425.000 759,489 334.489 0 0 0 427,100 583,606 156.506 2.936,283 3,469,064 532,781 7,486,341 9,186,849 1.700,508 c 0 0 180,000 128.716 51,284 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12,990,063 8,340.965 4,649,098 0 0 0 50,000 9,052 40,948 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16,350,585 5.184255 11 166,330 J ,786.448 2,086,447 (299,999) 0 0 0 1,119273 783,317 335,956 G 9"9A31 (99.43"1) 2,905,721 2,869,764 35,957 29,570,648 13,762.419 15,808229 30,562 599,300 568,738 (22,084.307) (4,575,570) 17 .508,737 0 793 793 0 5,947.691 5,947.691 0 0 0 547, 100 363,800 (183.300) 0 0 0 (247' 100) (363,800) (116,700) 77.650 77.650 0 6,705,127 6,710,209 5,082 (710.00J) (710,000) 0 ( 1,891 .627) (996.594) 895,033 0 0 0 350,000 6,()00 (344,000) (632,35-0) (63 l ,557) 793 5,463.500 l l .667 ,306 6203.806 (601,788) (32257) 569,531 (16.620.807) 7,091,736 23]12,543 2,489,812 2,489,812 0 21,046,101 21,046,101 0 0 0 0 0 0 0 0 0 0 0 0 0 1 88B 024 s 2 457 5~§ s 569 §;}1 $ 4 425 294 s 2~ 1~7 837 s 2~ 712 "'4;.1i THE ACCOMPANYING NOTES AllE AN INTEGllAL PART OF THIS STATEMENT 25 COMBINED STATEMENT OF PEVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL GENERAL SPECIAL REVENUE, DEBT SERV!CE, AND CAPITAL PROJECTS FUND TYPES VEAR ENDED DECEMBER 31, 2001 WITH COtv1PARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 2000 (PAGE 4 OF 4) COMPAi(ATiVE TOTALS (MEMORANDUM ONLY) VARIANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes s 47 ,823,325 s 50,218,530 s 2,395205 s 47.827,013 Licenses And Permits 3,538,800 4,065,518 526,718 4.562,892 Intergovernmental Revenues 5.455,8i6 6.129,103 673287 6.793.084 Charges For Services 6,331,840 7_301,538 969,698 7,805.409 Fines And Forfeits 817.100 993,093 175,993 937,689 Special Assessments 309,657 333,056 23.399 352,648 Contributions 16,000 19i,877 175,877 64,092 Interest 1,590,211 2,583,931 993,720 2.307,978 Miscellaneous Revenues 936,100 1,231,574 295,474 727.465 TOTAL REVENUES 66,818,849 73,048220 6229,371 71,378.270 EXPENDITURES Current: General Government 11,838931 11,193.462 645,469 10,858,538 Security Of Persons And Property 2.:1,250.184 23,569,864 680,320 22,889,748 Physical Environment 1,947,827 1,878,956 68,871 L769h42 Transportation 18,843,939 13,885,329 4,958,610 10,330.362 ~' Economic Environment 5,000.798 4,484,526 516,272 4.337.239 Mental And Physical Health 10,500 6,756 3.744 8599 Culture and Recreation 7,390,292 7.263.056 127.236 6,606,662 Capitol Outlay 16,596.480 5,359,801 11.236,679 7.450.837 Debt Service: Principai Retirement l ,786,448 2,086,447 (299,999) 2,48 L026 Interest & Fiscal Charges 1,119.273 882,748 236,525 1,205.281 &I TOTAL EXPENDITURES 88,784.672 70,610,945 18.173,727 67.937 ,934 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (21.965,823) 2,437275 24,403.098 3,440.336 OTHER FINANCING SOURCES (USES) Proceeds Of Long~Terrn Debt 0 6,023.484 6.023.484 0 lnterfund Loan Proceeds 547,lOG 363,SCD (183,300) 823,000 lnterfund Loan Repayments (247, JOO) {363,800) (116.700) (823.000) Operating Transfers In 6,845,877 6,850,944 5,067 3,694,498 Operating Transfers (Out) (9,705,127) (8,873294) 83i,833 (3,662,809) Sale Of General Fixed Assets 350.CDO 61.685 (288,315) 1A03h88 TOTAL OTHEf.( FINANCING SOURCES (USES) (2.209,250) 4,062,819 6.272.069 1,435,377 EXCESS (DEF!C!ENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FiNANC!NG USES {24. 175,073) 6,500,094 30.675.167 4,875.713 FUND BALANCE JANUARY l 35,131,630 35, 131,630 0 30,255,917 Residua! Equity Transfers In 0 0 0 955,000 Residual Equity Transfers (Out) 0 0 0 (955,000) FUND BALANCE DECEMBER 31 $ JO 95Q G:27 $ 41 631 724 s 1Q Q7~ 167 s 1:21~1Q30 " THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 26 COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED DECEMBER 31, 200i WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 1) PROP Rt ET ARY FUND TYPES COMPARATIVE TOTALS OPERATING REVENUES: Charges for Services :oxes Other Operating Revenue TOTAL OPERATING REVENUE OPERATING EXPENSES: Operations and Maintenance Benefit Payments Professional Services Administrative and General Insurance Taxes Depreciation TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) NON-OPERATING REVENUE (EXPENSE): Interest Revenue Goin (Loss) on Sale of Assets Other Non-operating Revenue (Expense) Interest Expense Amortization of Debt DtScount and Expense NON-OPERATING REVENUE NET OF EXPENSES INCOME (LOSS) BEFORE OPERATING TRANSFERS Operating Transfers In (Out) NET INCOME CLOSS) Depreciation Reducing Grant Contributed Capital INCREASE (DECREASE) IN RETAINED EARNINGS RETAINED EARN!NGS, JANUARY 1 RETAINED EARNINGS, DECEMBER 31 CONTRIBUTED CAPITAL JANUARY 1 Capitol Grants Amortization on Capital Grants Other Contributed Capital CONTRIBUTED CAPITAL DECEMBER 31 FUND EQUITY, DECEMBER 31 s s ENTERPRISE 31.869238 0 1,414.961 33284,199 22,093.930 0 0 2,002,546 18.000 2,826,387 4248,310 31,189.173 594237 1,398 129.330 (1.354,657) (77,166) (706-858) 1,388,168 (77 ,650) 1,310.518 167.010 1.477 ,528 38,037,753 39515281 108,362.378 634,243 (167,010) 7,395,079 116224,690 155.7:'19 971 $ INTERNAL SERVICE 9,850, i22 0 0 9,850, 122 1,386,562 6.050,784 402,684 495, 172 426S31 0 337.773 (43.671) 82,715 0 0 376.817 469.736 2,100,000 2.569.736 0 8,307,487 10.877223 2282,377 0 0 s (MEMORANDUM ONLY) 2001 2000 41,719360 0 1.414,961 43.134,321 23,480,492 6,050.784 402,684 2,497,718 444,931 2,826,387 5,243,380 40.946,376 2, 187.945 932.010 (42273) 212,045 (1,354.657) (77.166) (330,041) 2.022,350 3.880,254 167.010 4.047,264 46-345.240 50,392-504 110.644,755 634.243 (167,010) 7.395,079 118.507.067 41,848,418 75,000 22,340.769 4,464, 119 349,043 2.424,537 418.964 2,930,181 4,674.398 37.602,011 5,938.708 1.500, 144 142.782 163,i84 (1,482.023) (80,472) 243,615 6.182.323 15248 6,197.571 171,356 6,368,927 39,976,313 46.345240 104.300.185 128,087 (171,356) 6,387,839 110,644,155 13 159 600 s =='6.,e.,a,.99,.-.,s.,1,.1= 156 989 995 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 27 COMBINED STATEMENT OF CASH FLOWS -ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED DECEMBER 31, 2001 Vv'ITH COMPARATIVE TOTALS FOR DECE.MBER 31, 2000 (PAGE 1OF2) PROPR!ETARY FUND TYPES COMPARATIVE TOTALS INTERNAL (MEMORANDUM ONLY) ENTERPRISE SERVICE 2001 2000 CASH FLO\AJS FROM OPERATING ACT!VIT!ES Cash Received From Customers s 30.781,170 s 0 s 30.781,170 s 31.009.998 Cash Received From Other Funds for Goods and Services 399,652 9,908,848 10,308,500 9.750,850 Cash Payrr,ents to Suppliers tor Goods and SeNices (17 .436,238) (8,060,448) (25,496.686) (23.043,761) Cash Paid to Other Funds for Goods and Services (3.535.884) (4$5.797) (4,021.681) (4,140.390) Cash Paid to Ernployees (4.050201) (522.803) (4,573,!Yv4) (4.363.888) Cash Paid for Taxes (1,691,312) 0 (l,691,312) (1.788.619) Other Operating Rece1-pts 1,414,961 0 1,414,961 1,692.301 Other Non-Operating Receipts 161,088 83,591 244.679 247,867 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 6.043,236 923.391 6.966.627 9.364.358 CASH FLOWS FROM NONCAPiTAL FINANCING ACT!VIT!ES' Operating Transfers From Other Funds 0 2,i00,000 2, 100.000 92,898 Operating T ronsters To Other Funds (77 .650) 0 (77.650) (77.650) NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVIT (77 ,650) 2,100.000 2,022,350 iS,248 CASH FLOWS FROM CAPITAL FINANCING ACTIV!TiES· Proceeds From Sale of Equipment 24,672 (43,671) (l 8,999) 164.456 Acquisition and Construction of Capital Assets (15.099,529) (913,526) (16.013.055) (12,125,5-38) Capitoi Contributions 7,395,079 0 7,395,079 6,387,839 Capitol Grants 53,030 0 53.030 110,090 Principal Payments on Bonds (1.990,954) 0 (l,990,954) (l ,795,666) Interest Payments on Bonds (l ,341.732) 0 (1,34 l. 732) < 1,5 l 0,382) Payments on State Long-Term Loons (821,592) 0 (821,592) (445,048) NET CASH PROVIDED (USED) BY CAPITAL F!NANCiNG ACTIVITIES (11.781.026) (957, 197) (12.738.223) (9,214,249) CASH FLOWS FROM lNVEST!NG ACTIViTIES· Proceeds From Sole of Investments 4.897.748 9,060275 13,958,023 4,400,000 Payments for Investments (817.434) (6.064,876) (6.882.310) (3 ,689 ,600) ii interest on Investments 629, 103 464,979 1,094,082 l ,365,700 NET CASH PROVIDED (USED) BY !NVEST!NG ACTIVITIES 4.709,417 3,460,378 8, 169.795 2,076,100 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,106,023) 5,526.572 4,420.549 2241.457 CASH AND CASH EQUIVALENTS, JANUARY 1 12.614,580 2,298,953 l4,913,533 12,672,076 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 115Qa~"i7 $ 7 ~2~ ~:;;;2 s 19 ~~4 Q~2 $ 14 21~ :2~~ CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents 6.809,090 s 7.825.525 s 14,634.615 8,629,499 Cash Restricted for: Deposits 25,439 0 25.439 32.329 Revenue Bond Debt Service 4.674.028 0 4.674,028 4,991,315 Construction Account 0 0 0 l ,260,390 TOTAL CASH AT THE END OF THE YEAR $ 11 "'-Q2f~7 $ z ~2~ 522 s 19 ~~4 Qa2 s '4 91~ ~~~ THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 28 COMBINED STATEMENT OF CASH FLO\IVS -ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED DECEMBER 31, 2001 VJ!TH COtv1PARATiVE TOTALS FOR DECEMBER 31, 2000 CPAGE 2 OF 2) PROPRIETARY FUND TYPES RECONCILIATION OF OPERATING iNCOME CLOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTiVITiES ENTERPRISE INTERNAL SERVICE Operating :ncome (loss) S 92,919 2_095,026 s ---~"'-'-'-- Adjustments to Reconcile Operating lncorne Closs) to Net Cash Provided (Used) By Operating Activities· Depreciarion and Amortization of Deferred Charge 4,264,310 Other Non-Operating Revenue 129 ,330 (increase) Decrease in Accounts Receivobie (619,036) (Increase) Decrease in Due From Other FundsiGovemmer 48,522 (increase) Decrease in inventory/Prepaid !terns 30,763 increase (Decrease) in Vouchers/Controcts/Retoinage Pc 1 i8,517 Increase (Decrease) in Due to Other FundsiGovernmento 6.85 l Increase (Decrease) in Payables/Other Short Term UobilitiE 28,377 increase (Decrease) 1n Customer Deposits (60,271) Increase (Decrease) in Deferred Revenues (19,269) Increase (Decrease) in Accrued Employee Leave Benefits 20.116 increase (Decrease) in Claims incurred But Not Reported --...,-,.,,,.-,-'o'"- Total Adjustments 3.948210 NET CASH PROVIDED (USED) BY OPERATING ACTIVfflES $ ===6,:C!iii41'3=2=3a.6: SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES· Fixed Assets Contribured By Developers $ Change in Fair Value of Investments 5.969,070 $ 5L227 995,070 82.715 4,177 876 (3,660) (57 .023) 0 (2) 54.854 0 5,885 (252,420) 830.472 923 391 0 97,933 TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITfE $ 97 933 6020297 $~=~=="""'= s s s $ THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 29 COMPARATiVE TOTALS (MEMORANDUM ONLY) 2001 2000 2.187,945 s 5,938.708 5.259.380 4,690,398 212,04-5 163,184 (614,859) (912,901) 49 .398 519,971 27,103 251.328 61,494 (585,965) 6.851 (43,787) 28,375 (3,216) (5,417) (15,400) (19,269) (194,386) 26.001 (20,626) (252.420) (422,950) 4.778,682 3.425,650 6966 627 s 9 364 358 5,969,070 $ 4,558,340 149,160 437,724 t:i1Ja2~n s 499Q~ FIREMEN'S PENSION TRUST FUND STATEMENT OF CHANGES IN PLAN NET ASSETS FOR THE YEARS ENDED DECEMBER 31 2001 AND 2000 (PAGE l OF 1) ADDiTfOl'JS Others Contributions Hre Insurance Premiums Investment income Interest Revenue TOTAL ADDffiONS DEDUCTIONS· Benefit Payments Administrative and General TOTAL DEDUCTIONS NET INCREASE (DECREASE) FUND BALANCE RESERVED f-OR EMPLOYEES' PENSION BENEFITS FUND BALANCE JANUARY 1 FUND BALANCE DECEMBER 31 s s 2001 50,703 $ 459,697 510,400 323,128 13,040 336,168 174,232 8.046220 2000 44,582 1-427 .200 l ,471-752 313,035 6,434 3i9,469 1.152.313 6,893.907 8 220 452 $ ===8=0=46..,.22.,0,,, THE ACCOMPANYING NOTES ARE AN INTEGHAL PART OF THIS STATEMENT 30 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 NOTE 1 -SIGNIFICANT ACCOUNTING POLICIES The City of Renton was incorporated on September 6, 1901, and operates under the laws of the State of Washington applicable to a Non-Charter code city with a Mayor/Council form of government. Renton is served by a full-time Mayor and seven part-time Council members, all elected at large to four-year terms. The City provides the full range of municipal services authorized by State law, together with a Municipal Airport, a Waterworks Utility, a Solid Waste Utility, and a Municipal Golf Course. The accounting and reporting policies of the City of Renton, which conform to generally accepted accounting principles for governments, are regulated by the Washington State Auditor's Office, Division of Municipal Corporations. The City's significant accounting policies are described in the following notes. THE REPORTING ENTITY Based on the criteria of Statement No. 14 of the Governmental Accounting Standards Board (GASB), the City's Comprehensive Annual Financial Report (CAFR) includes all funds, account groups, agencies and boards for which the City is financially accountable. Financial accountability is defined as follows: A primary government has substantial authority to appoint a voting majority of a component unit's board; the primary government has the ability to impose its will on a component unit; the component unit can provide a financial benefit to, or impose a financial burden on the primary government; and the component unit is fiscally dependent on the primary government. The Renton Housing Authority has been excluded because the City neither reviews its budget nor is obligated to finance any of its deficits. The Mayor does appoint members to the Housing Authority Board, but the Board is fiscally independent of the City. BASIS OF PRESENTATION -FUND ACCOUNTING The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. Each fund is accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. The City's resources are allocated to and accounted for in individual funds according to the purpose for which they are spent and how they are controlled. The three broad fund categories, seven generic fund types, and two account groups presented in this report are described below. Governmental Fund Types All Governmental Funds are accounted for on a spending or 'financial flow' measurement focus. This means that generally only current assets and current liabilities are included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of 'available spendable resources.' Governmental Fund operating statements focus on measuring changes in financial position, rather than net income; they present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. The General Fund is the general operating fund of the City. It accounts for all financial resources and transactions except those required to be accounted for in another fund. Special Revenue Funds account for the proceeds of specific revenue sources (other than special assessments, and major capital projects) that are legally restricted to expenditures for specified purposes. 31 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 Debt Service Funds account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. Capital Projects Funds account for financial resources to be used for the acquisition or construction of major capitol facilities other than those financed by Proprietary Funds. Proprietary Fund Types Proprietary Funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or non-current) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary Fund operating statements present increases (revenues and gains) and decreases (expenses and losses) in net total assets. The Proprietary Fund measurement focus is based upon determination of net income, financial position, and reporting of cash flows. Enterprise Funds account for operations that are self-supported through user charges. The enterprise is financed and operated like a private business enterprise, which requires periodic determination of revenues earned, expenses incurred, and net income for capital maintenance, public policy, management controls, and accountability. Internal Service Funds account for the financing of goods or services provided by one department or agency to other departments or agencies of the City or to other governments. Pursuant to GASB Statement Number 20, "Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting," the City has chosen to apply all applicable GASB Pronouncements and only FASB Statements and Interpretations, Accounting Principles Board Opinions and Accounting Research Bulletins issued on or before November 30, 1989, unless they conflict with or contradict GASB Pronouncements. Fiduciary Fund Types Fiduciary Funds account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and other funds. These include Expendable Trust, Nonexpendable Trust, Pension Trust, and Agency Funds. City of Renton Fiduciary Funds do not include any Expendable or Nonexpendable Trust Funds. Pension Trust Funds are accounted for in essentially the same manner as Proprietary Funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results and operations. Account Groups Account Groups are used to establish accounting control over the City's general fixed assets and general long-term debt. The City uses two account groups. The General Fixed Assets Account Group accounts for all fixed assets of the City other than those accounted for in Proprietary Funds. The General Long-Term Debt Account Group accounts for all long-term debt of the City except that accounted for in the Proprietary Funds. 32 Comparative Data NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 l Comparative total data for the prior year has been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative data has not been presented by fund type in each of the statements since their inclusion would make the statements unduly complex and difficult to read. Tata/ Columns on Combined Statements Total columns on the combined statements are presented only to facilitate financial analysis. Dato in these columns do not present financial position, results of operations, or the reporting of cash flows in conformity with generally accepted accounting principles. The data is also not comparable to a consolidation. lnterfund eliminations have not been made in the aggregation of the data. BASIS OF ACCOUNTING Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Modified Accrual Basis of Accounting The modified accrual basis of accounting is followed in all Governmental Funds and Agency Funds. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to pay current liabilities. Specific major revenue sources subject to accrual ore discussed below. The portion of property taxes receivable at year-end that ore received in January for the prior year's levy ore recorded as revenue. The remaining balance is not normally expected to be collected within 30 days ofter the current period and is, therefore, reported as deferred revenue. Grant revenues from cost reimbursement grants ore considered earned and therefore available when the expenditure is incurred, in accordance with NCGA Statement 2. Interest on investments is recorded as revenue when earned. Special assessments and charges for services are recorded as revenue when billed and due within 30 days. Revenue sources which are not considered to meet the measurable and available criteria for revenue recognition include licenses and permits, fines and forfeitures, and other miscellaneous revenues since they ore generally not measurable until received. Under the modified accrual basis, expenditures are recorded when the fund liability is incurred, except for principal and interest on general long-term debt, which are recorded when due. Purchases of fixed assets out of Governmental Funds are treated as expenditures during the year incurred and the assets are capitalized in the General Fixed Assets Account Group. Long-term liabilities, including vacation pay not currently due and payable, ore accounted for in the General Long-Term Debt Account Group, except for long-term liabilities accounted for in the Proprietary Funds. Accrual Basis of Accounting The accrual basis of accounting is followed in all Proprietary Funds and the Pension Trust Fund. Revenues are recognized when earned and expenses are recognized when incurred. 33 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 The revenues of the Waterworks and Solid Waste Utilities, which are based upon service rates authorized by the City Council, ore determined by monthly billings to customers, Revenues of the Golf Course are based on user fees, and Airport revenue is based on leose agreements, Earned but unbilled revenues at year-end are accrued and reported in the financial statements, Fixed asset purchases are capitalized, and long-term liabilities are accounted for in the appropriate funds, BUDGETS AND BUDGETARY ACCOUNTING The City of Renton budgets its funds in accordance with the Revised Code of Washington (RCW) 35A33, In compliance with the Code, annual appropriated budgets are adopted for the General, Special Revenue, Debt Service and Capital Projects Funds, Any unexpended appropriations lapse at the end of the fiscal year, For Governmental Funds, there are no substantial differences between the budgetary basis and generally accepted accounting principles, Budgetary accounts are integrated in fund ledgers for all budgeted funds, but the financial statements include budgetary comparisons for annually budgeted Governmental Funds only, Budgets established for Proprietary and Trust Funds are "management budgets," and are not legally required to be reported, Annual appropriated budgets are adopted at the fund level, Subsidiary revenue and expenditure ledgers are used to compare the budgeted amounts with actual revenues and expenditures, As a management control device, the subsidiary ledgers monitor expenditures for individual functions and activities by object class, The City of Renton's budget procedures are mandated by RCW 35A33, The steps in the budget process are as follows: 1) Prior to November 1 , the Mayor submits a proposed budget to the City Council, This budget is based on priorities established by the Council and estimates provided by the City departments during the preceding months, and balanced with revenue estimates made by the Mayor, 2) The City Council conducts public hearings on the proposed budget in November and December, 3) The Council makes its adjustments to the proposed budget and adopts by ordinance a final balanced budget no later than December 3 L 4) The final operating budget as adopted is published and distributed within the first four months of the following year, Copies of the budget are made available to the public, Transfers or revisions within funds are allowed, but only the City Council has the authority to increase or decrease a given fund's annual budget, This is accomplished by City ordinance, The budget was amended four times during 200L Budget amounts presented in the basic financial statements include the original amounts, after all transfers and adjustments, as approved by the City CounciL Encumbrances An encumbrance system is maintained to account for commitments resulting from approved purchase orders, contracts, and other commitments, Encumbrances remaining at year-end lapse and are canceled, Upon request by the department and approval of the City Council, encumbrances may be reappropriated in the following year, At year-end, the City had encumbrances of $3,486,133, 34 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 ASSETS, LIABILITIES AND FUND EQUITY ccsh & Cash Equivalents Al I highly liquid investments (including restricted assets) with a maturity of three months or less when purchased are considered cash equivalents. Included in this category are all funds invested in the Local Government Investment Pool and Municipal Investors Account. Excluded from this category are cash balances held by Fiscal Agents since the City does not have discretionary use of these funds. Cash held by Fiscal Agents is included in an investment type account. Investments The City of Renton invests all short-term cash surpluses. A Surplus Bank Balance Fund is maintained to account for these residual investments and earnings are allocated to the General Fund. Investments are also held separately by several of the funds with interest earned directly for the benefit of each fund. Investments are reported on the financial statements at fair value as required by the Governmental Accounting Standards Board (GASB) Statement No. 31. Washington State statutes provide for the City to hold investments consisting of obligations of the Federal government, repurchase agreements, prime banker's acceptances, and time certificates of deposit issued by Washington State depositories that participate in the Washington State Public Depository Protection Commission (WPDPC). The WPDPC is a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission. Additional deposit ond investment information is presented in Note 3. Inventories Inventories carried in Proprietary Funds are valued at average cost which approximates the market value. The inventory in the Waterworks Utility Fund is charged out at average cost plus a 20% handling fee when issued, and the inventory in the Equipment Rental Fund is issued at average cost. The inventory at the Golf Course is the merchandise that is sold to the public. This inventory is valued at actual cost. A physical count is taken at year-end at all inventory locations. Governmental Funds use the purchase method whereby inventory items are considered expenditures when purchased. The amount outstanding at year-end is immaterial and is, therefore, not included on the balance sheet. Property Taxes Receivable The County Finance Director acts as an agent to collect property taxes levied in the county for all taxing authorities. Taxes are levied annually on January l on property value listed as of the prior August 31. Assessed values are established by the County Assessor at l OO"lo of fair market value. A revaluation of all property is required every two years, however King County has the ability to revalue annually. Property taxes levied by the County Assessor and collected by the County Finance Director become a lien on the first day of the levy year and may be paid in two equal installments if the total amount exceeds $30. The first half of real property taxes is due on April 30 and the balance is due October 31. Delinquent taxes bear interest at the rate of 12"/o and are subject to additional penalties if not paid as scheduled. At year-end, property taxes are recorded as a receivable with the portion not expected to be collected within 30 days offset by deferred revenue. During the year, property tax revenues are recognized when cash is rece'1ved. 35 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 The tax rate for general City operations is limited to $3.60 per $1,000 of assessed value, Of this amount, up to $.45 per thousand may be designated for contribution to the Firemen's Pension Fund if a report by a qualified actuary indicates that additional funds are required, The payment of principal and interest on Limited Tax (non-voted) Bonds issued by the City is made from the general levy, Accordingly, the issuance of Limited Tax General Obligation Bonds has the effect of reducing property taxes available for the general operations of City government In 2001, the City levied $3.27385 per $1,000 of assessed valuation for general purposes, State law also provides that the City's operating levy may not exceed l 06% of the largest single levy of the past three years, The State Constitution provides that the total of all taxes upon real and personal property by the State and all taxing entities, including the City, shall not in any year exceed 1% ($10 per thousand dollars) of the true and fair monetary value of such property, This limitation may be exceeded upon the approval of 60% of the City voters at an election in which the total vote exceeds 40% of the votes cast at the last preceding general election, For 2001, the City's general tax levy was $3.27385 and the excess levy for Unlimited General Obligation Bonds issued for the construction of Gene Coulon Memorial Beach Park and Senior Housing was $0,10078, A total of $3,37463 per $1,000 on a total assessed valuation of $5,062.641,752 per the King County Assessor's 2001 Annual Report, Estimated and actual property tax revenue is compared in the following table: ITEM General Levy Excess Levy TOTAL Assessments Receivable TABLE 1: PROPERTY TAX LEVY ESTIMATED PROPERTY TAXES s 16,467,083 509,208 $ 16,976 291 ACTUAL PROPERTY TAXES s 16,177,513 500,369 $ 16,677,882 VARIANCE s (289,570) (8,839) $ (298,409) Unpaid special assessments receivable is reported in three accounts: current, delinquent, and deferred, Current assessments are those due within one month: delinquent assessments are past due; and deferred assessments are due beyond one month, Revenue from the assessments is recognized as it becomes current -that is, both measurable and available to finance expenditures of the current period. Fixed Assets and Depreciation The capitalization threshold applied to the City's fixed assets is $5,000, The accounting and reporting treatment applied to the fixed assets associated with a fund are determined by its measurement focus, Fixed assets acquired in Governmental Funds are accounted for as expenditures in the fund when the assets ore purchased and are capitalized in the General Fixed Asset Account Group at historical cost Where historical cost is not known, assets are recorded at estimated historical cost Donated assets are valued at estimated fair market value at the time received, Infrastructure such as roads, bridges and curbs are considered public property and are not capitalized in the General Fixed Assets Account Group, Governmental Fund assets are not depreciated, 36 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 Fixed assets of the Enterprise and Internal Service Funds are recorded at historical cost, and are accounted for in their respective funds. Capital contributions are recorded as contributed capital and the assets are capitalized at their estimated fair market value at the date of donation. Fixed assets used by Proprietary Funds are depreciated and the accumulated depreciation is reported in Proprietary Fund Balance Sheets. Annual depreciation is recorded as an expense of the fund. Depreciation is computed using the straight-line method over estimated service life as follows: TABLE 2: FIXED ASSET SERVICE LIFE ASSET Building Non Building Improvement Utility Plant ESTIMATED SERVICE LIFE 25-50 years 25-50 years 25-75 years Equipment 3-20 years ~see Note 7 for additional information Accumulated Unpaid Vacation and Sick Pay Labor contracts with City of Renton employees call for the accumulation of vacation and sick leave. At termination of employment, employees with the required length of service may receive cash payments for all accumulated vacation leave to a maximum of 432 hours. Sick leave te:mination benefits are based on a percentage of accumulated sick leave up to a maximum of 480 hours. The payment is based on current wages at termination and date of hire. Accumulated amounts of vacation leave and related benefits are accrued as expenses when incurred in Proprietary Funds. The current portion of the Enterprise Funds, $32,542, and the Internal Service Funds, $3,057 is included with the current liability accounts Accrued Wages Payable and Accrued Employee Benefits Payable. In Governmental Funds, only the current portion of the yearly accrual (based on last in-first out formula) left unpaid at the end of the fiscal year is recorded as fund liability and expenditure. The remainder of the liability is reported in the General Long-Term Debt Account Group. This reporting format is in compliance with GASB Statement 16. At year-end 2001, the Governmental Funds recorded current liabilities of $277,555 on the respective balance sheets and a long-term liability for the non-current portion of accumulated vacation and related benefits in the amount of $2, 113,97 l in the General Long- Term Debt Account Group. The unpaid liability in the Proprietary Funds at December 31 was $247,397. Accumulated sick leave and related benefits are also based on GASB Statement 16 which calls for accrual of Proprietary Fund liabilities and inclusion of Governmental Fund liabilities in the General Long-Term Debt Account Group. These amounts at December 31, 2001, were $198,854 and $2, l l l ,640, respectively. The following table details the total vacation and sick leave liability: ITEM General Governmental Fund Genera! long-Term Debt Proprietary Fund TOTAL LEAVE BENEFITS TABLE 3: EMPLOYEE LEAVE PAYABLE CURRENT LONG-TERM s 277,555 $ 0 0 4.225.611 35,599 446,251 $ 313, 154 $ 4,671,862 37 s $ TOTAL 277,555 4,225.611 481,850 4,985,016 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 Fund Equity -Reserves and Designations The City recognized in its reporting that assets are sometimes not "available spendable resources" or at times legally available for appropriations, because they are contractually or legally restricted for some specific future use. When this is the case, as for example with debt service, fund equity is "reserved," However, when management sets aside portions of fund equity based upon tentative future plans or for administrative convenience, these restrictions are reported as "designations" of unreserved fund equity. Designation is not used in Proprietary Funds. Direct Charges/Credits to Enterprise Funds Retained Earnings The Airport Fund has credited $167,010 directly to retained earnings, representing the retirement of Federal and State contributed capital for the current year. Risk Management and Risk Retention It is the City of Renton·s policy to self-insure first level coverages for property, liability, worker's compensation, and employee medical coverages. For mid-level and catastrophic losses the City purchases both commercial insurance coverage, and reserves the right to invoke provisions of RCW 35A31.060, which allows cities to levy a non-voted property tax increase to pay for uninsured claims. As of December 31, 2001, the Insurance Fund's unreserved retained earnings totaled $5,198,173. See Note 17 for additional information. NOTE 2 -STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY Deficit Fund Equity The Leased City Properties capital projects fund had a deficit fund balance of ($626,412) as of December 31 , 200 l . The fund is incurring capital expenditures in excess of lease revenues. The long-term expectation is that lease revenues will offset the expenditures and reduce the deficit incrementally each year. NOTE 3 -CASH & INVESTMENTS The City maintains an investment pool available for use by all funds. Interest earned on pooled investments is recorded in the General Fund. Investments are also held separately by several of the funds with interest earned directly for the benefit of each fund. DEPOSITS All deposits are covered entirely by Federal Depository Insurance (FDIC) or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (WPDPC). The FDIC insures the City's deposits up to $100,000, and the WPDPC insures amounts over $100,000. The WPDPC provides for additional assessments against members of the pool on a pro rota basis. Accordingly, the deposits covered by WPDPC are considered insured and classified as risk category 1. The City had $73,792,677 in cash and investments at year-end, which consisted of $40,480,256 in the State Investment Pool and Municipal Investors Account, $30,398,927 in other investments, and $14,495 in petty cash. All cash in excess of current requirements was invested at year-end with bank deposits reporting a cash balance of $2,913,494. Table 4 displays the breakdown of cash and deposits by type of deposits and by fund type. 38 ~:1 • NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 4: RECONCILIATION OF CASH AND INVESTMENTS BY FUND GROUP STATE TOTAL ALL CHANGE IN INVESTMENT RESTRICTED CASH&CASH FAIR VALUE OF FUND GROUP CASH POOL/MIA' CASH EQUIVALENTS INVESTMENTS INVESTMENTS Genera! $ 503.764 $ 6.016,608 s 0 $ 6,520,372 $ 753,059 $ 42,240 Special Revenue 2,313.970 3,030,000 0 5,343.970 0 56.279 Debt Service 935,054 1,522,500 0 2,457 ,554 0 17.713 Capital Projects 11,620.544 17,928,381 0 29,548.925 0 206.468 Enterprise (l.237,137) 7,995,000 4,699,467 11,457,330 0 51227 Internal Sewice 4,581.392 3,138,000 0 7,719.392 2.000,000 97,933 Trust & Agency 496,440 849.767 0 1.246.207 4,579,922 1.594.086 TOTAL $ 19,214,027 $ 40,480,256 $ 4,699,467 $ 64,393,750 $ 7,332,981 s 2,065,946 ~ Municipal Investor Account INVESTMENTS TOTAL CASH & INVESTMENTS 7.315,671 5,400.249 2,475.267 29,755.393 11,508,557 9,817.325 7,520.215 $ 73,792,677 Washington State statutes provide for the City to hold investments consisting of obligations of the Federal government, repurchase agreements. prime banker's acceptances, and time certificates of deposit with authorized Washington State savings and loan institutions. Additionally, the Firemen's Pension Fund is authorized to invest in mutual funds and obligations of the Federal, State, and Local government-owned public utilities. All investments are valued at fair value as of December 31, 2001. The City has no investments reported at amortized cost. The fair value of the positions in the State Investment Pool and Municipal Investor Account is the same as the value of the pool shares. The State Investment Pool is managed by the Treasurer of the State of Washington and the Municipal Investor Account is managed by U.S. Bank. The City of Renton's investments are categorized to give an indication of the risk assumed at year-end. Category l includes investments that are either insured, registered or held by the City or its agent in the City of Renton's name. Category 2 includes uninsured and unregistered investments which are held by the counterparty's trust department or agent in the City's name. Category 3 includes uninsured and unregistered investments which are held by the counterparty's trust department or agent, but not in the City's name. At the end of the year, the City had no investments in category 3. TABLE 5: CLASSIFICATION OF INVESTMENTS AS OF DECEMBER 31, 2001 ITEM CATEGORY 1 US Government $ 8,818,301 TOTAL INVESTMENTS $ 8,818,301 NOTE 4 -DEFERRED COMPENSATION CATEGORY 2 $ 100.566 $ 100,566 $ $ FAIR VALUE 8.918.867 8,918,867 The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. This plan is administered by the Hartford Life Insurance Company and the ICMA Retirement Corporation. The plans are available to all City employees, which permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. 39 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 Compensation deferred under the plans and all income attributable to the plans are solely the property of the City of Renton. The City's rights to this property are subject only to the claims of the City's general creditors until paid to the employee or other beneficiary and are not restricted to the benefit provisions under the plan. At December 31. 2001, the fair value of the plans assets was $20,174.102. It is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. NOTE 5 • RECEIVABLES AND PAYABLES Table 6 details the specific receivables and payables at December 31, 2001. The City provides reserves for potentially uncollectible water, wastewater, storm, metro, solid waste utility, and airport charges. At December 31, 2001, these reserve balances were $60,308. TABLE 6: NET RECEIVABLES AND PAYABLES SPECIAL DEBT CAPITAL INTERNAL TRUST & ITEM GENERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE AGENCY TOTAL RECEIVABLES: Taxes $ 396.255 $ 0 $ 18,093 $ 0 $ 0 $ 0 $ 0 s 414,348 Accounts 4,139,046 32,183 0 31.821 4,667.555 3.608 0 8.874213 Notes 0 0 0 0 2 LD-11 0 0 21.041 Special Assess-Delinquent 0 0 658 0 0 0 0 658 Specio! Assess-Deferred 0 0 697,169 0 0 0 0 697,169 interest-Special Assess 0 0 385 0 0 0 0 385 Interest on investments 86,391 54,909 17,323 16i,763 50,234 114.947 1,135,261 1,620,828 TOTAL All FUND TYPES $4,621,692 $ 87,092 $ 733,628 $ 193,584 $4,738,830 $ 118,555 $1,135,261 $11,628,642 PAYABLES: Matured Interest Payable $ 0 0 s 292.000 s 0 s 0 $ 0 s 0 $ 292,000 Accrued Interest Payable 0 0 0 0 238,782 0 0 238,782 Accrued Wages Payable-0 0 0 0 29.741 2,793 0 32,534 Accrued Benefits Payable 0 0 0 0 2,801 264 33 3.098 Accrued T oxes Pa ob!e 2,921 7,005 0 38204 129,394 56 0 177,580 TOTAL ALL FUND TYPES $ 2,921 $ 7,005 $ 292,000 $ 38,204 $ 400,718 $ 3,113 $ 33 $ 743,994 Note Receivable: Table 6 details the current portion of the note receivable in the amount of $21 ,041 due from the Golf Course Concessionaire. The non-current portion of this receivable is so. 40 Ii NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 INTERFUND RECEIVABLES AND PAYABLES TABLE 7: INTERFUND RECEIVABLES AND PAYABLES ITEM DUE FROM DUE TO GENERAL FUND $ 7,378 $ 104,827 SPECIAL REVENUE FUNDS: Street Fund 23.524 0 Total Special Revenue Funds 23,524 0 DEBT SERVICE FUNDS: General Government ~vlisc, Debt 52.332 0 1989 Unlimited GO i64 0 Total Debt Service Funds 52,496 0 CAPITAL PROJECT FUNDS: Municipal Facilities Construction 52.332 0 Capital Improvement Fund 0 22.147 Total Capitol Project Funds 52,332 22,147 ENTERPRISE FUNDS: Waterworks Utility Fund 0 4.409 Air ort Fund 0 4,346 Total Enterprise Funds 0 8,755 TOTAL ALL FUND TYPES $ 135,730 $ 135,729 INTERFUND LOANS/ADVANCES RECEIVABLE & PAYABLE The following is a reconciliation of the $995,000 interfund loans and advances of which SO is current and $995.000 is long term: TABLE 8: INTERFUND LOANS/ADVANCES -RECEIVABLE AND PAYABLE INTERFUND LOANS/ ADVANCES FUND RECEIVABLE PAYABLE GENERAL FUND $ 75,000 s 0 SPECIAL REVENUE FUNDS: Community Development Block Grant 0 75.000 CAPITAL PROJECTS FUNDS: ~v1unicipol Facilities Construction 920,000 0 Leased City Properties 0 920,000 TOTAL ALL FUND GROUPS $ 995,000 $ 995,000 41 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 INTERGOVERNMENTAL RECEIVABLES At December 31, 2001 , the receivables from other governmental units included federal, state and local grants receivable of $2,244,737, and other governmental receivables amounting to $419,259. TABLE 9: DUE FROM OTHER GOVERNMENTAL UNITS SOURCE GRANTS: Federal Emergency Management Agency Department of Justice Department of Transportation State of Washington Subtotal -All Grants OTHER GOVERNMENTAL RECEIVABLES: Municipal Court Bryn Mawr-Lal<:eridge Water & Sewer TOTAL DUE FROt.11 OTHER GOVERNMENTS INTERGOVERNMENTAL PAYABLES AMOUNT $ 14,012 23,939 599,210 1,546,538 61,038 2 244,737 110,054 282,268 26,937 $ 2,663,996 A total of $1,837,583 was recorded as due to other governmental units at December 31, 2001. This included $1,332,776 for the portion of Municipal Court's outstanding receivables due to the State and $504,807 to the Washington State Department of Community, Trade and Economic Development for current portion due on Public Works Trust Fund loans. NOTE 6 -RESIDUAL EQUITY AND OPERATING TRANSFERS lnterfund transfers are classified as either residual equity transfers or operating transfers. Residual equity transfers are direct additions or subtractions to fund balance/fund equity, Contributions to Proprietary Funds are recorded as contributed capital in those funds. Operating transfers are accounted for as "other financing sources or uses" and are included in the operating statements. There were no residual equity iransfers recorded in 2001 , 42 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 l TABLE 10: OPERATING TRANSFERS FUND TYPE TRANSFERS IN TRANSFERS OUT GENERAL GOVERNMENTAL: General $ 0 s 5.550.000 Park 0 800,000 Arterial Street 0 353.500 Street 0 450.000 Community Dev. Block Grants 50.000 0 One Percent for Art 13.085 13.200 1978 Limited GO Bonds 0 160.000 General Government Misc Debt 77,650 550,000 Downtown Parking Garage 4,000,000 0 Transportation Impact Mitigation 0 941,509 Municipal Facilities Construction 1,273,200 42.000 Capital Improvement 1,437.009 13,085 PROPRIETARY FUNDS: Waterworks Utmty 0 77,650 Insurance 2,100,000 0 TOTALS $ 8,950,944 $ 8,950,944 NOTE 7 -FIXED ASSETS Generol Fixed Assets are long lived assets of the City as a whole. When purchased, leased, or constructed, such assets ore recorded as expenditures in the Governmental Funds and capitalized in the General Fixed Assets Account Group. All fixed assets are valued at historical cost, estimated historical cost, or fair market value at time of donation. Depreciation has not been provided on general fixed assets, nor has interest been capitalized. Infrastructure assets are considered public property and are not accounted for in the General Fixed Assets Account Group. At the end of 2001, nineteen projects comprised the Construction Work in Progress. Upon completion, the projects will be capitalized in the General Fixed Asset Account Group in their appropriate categories. Tables 11 and 12 describe the changes in the City's general fixed assets during 2001 and the Construction Work In Progress at the end of the year. TABLE 11: CHANGES IN GENERAL FIXED ASSETS BEGINNING ENDING ASSET BALANCE ADDITIONS DELETIONS BALANCE Land s 28,550,273 $ 0 $ 8,547 $ 28,541,726 Buildings 61,338,863 4,441,603 3,402 65,777,064 Non-Building Improvements 17,879,726 4, 181,288 182.246 21,878,768 Equipment 13.187,358 273.418 4, 182,703 9,278,073 Construction in Progress 3,207,433 10,091,951 8,600,141 4,699,243 Joint Venture 2,546.163 1,541.096 0 4,087,259 TOTAL $ 126,709,816 $ 20,529,356 $ 12,977,039 $ 134,262, 133 43 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 12: CONSTRUCTION WORK IN PROGRESS ESTIMATED REMAINING ESTIMATED PROJECT COSTTO DATE COSTS TOTAL COST Athletic Fleld Light Poie Replacement $ 11,333 $ 45,000 s 56,333 Cedar River Trail Extension 194 60,000 60,194 City Facilities Repaving 91,476 70,000 161,476 City Neighborhood Beautification 65,638 30,000 95,638 Community Svcs Grant-Matching Funds 206,764 200,000 406,764 Comprehensive Plan Update 40,863 40,000 80,863 Conferencing Center 42,411 240,000 282,411 Downtown Parking Garage 432,218 9,540,400 9,972,618 Fire Station 12 1,030,352 500,000 1,530,352 Fire Station 15 911,079 2,800,000 3,711,079 Highlands Annex Acq/Demolition 272,001 1,000 273,001 Highlands Improvement Program 76,314 115,000 191,314 New Shop Facilities 33,420 40,000 73,420 Park Play Equipment 34A,673 230,000 574,673 Pavilion Project 80,211 2,300,000 2,380,211 Performing Arts Center 200,000 250,000 450,000 Port Quendall 791,460 300,000 1,091,460 Senior Center Major Maintenance 47,525 385,000 432,525 Storage Buildings 21,311 430,000 451,311 TOTAL $ 4,699,243 $ 17,576,400 $ 22,275,643 Fixed assets of Proprietary Furtds are capitalized in their respective balance sheets, These assets are stated at cost, estimated cost when original cost is not available, or fair market value at the time received in the case of contributions, Depreciation expense is charged to operations of Proprietary Funds to allocate the cost of fixed assets over their estimated useful lives, using the straight-line method with useful lives of 3 to 75 years, The City's policy is to capitalize net interest on Proprietary Fund construction projects until completion of the project, Tile 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 2001, interest costs incurred on constructiort projects in Proprietary Funds were not material, Table 13 provides a summary of Proprietary Fund property, plant, and equipment as of December 31, 2001, 4,4 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 13: PROPRIETARY PROPERTY, PLANT, & EQUIPMENT SCUD GOLF TOTAL WATERWORKS AIRPORT WASTE COURSE TOTAL EQUIPMENT INTERNAL ASSET UTILITY FUND UTILITY FUND ENTERPRISE RENTAL INSURANCE SERVICE Land 3,&,"9,040 s 784.080 0 $ 2,683,200 $ 6.976;320 0 0 0 faJildings 8,691,495 658,992 0 4,032.970 13.383,457 0 0 0 EqU1pment 3.987.817 46,314 520,051 723,181 5.277 ,363 8,889,665 93.000 8,982.665 Other Improvements 178A94.513 9,719.296 0 3.310,0311 191,523,843 0 0 0 Construction Work in Progress 4,030.837 90-9.760 0 28,787 4.969,384 0 0 0 TOTAL ASSETS 198,713,702 12, 118,442 520,051 10 778172 222, 130,367 8,889,665 93000 8,982,665 Less Accumulated Depreciation 42,642,199 6.720.089 468,641 1,874,095 51.705,024 4,132.071 36.468 4,168.539 NET PROPERTY, PLANT & EQUIPMENT $156,071,503 $ 5,398,353 $ 51,410 $ 8,904,077 $170,425,343 $4,757,594 $ 56,532 $ 4,814,126 CONTRIBUTED CAPITAL RETIREMENT The Airport Fund has $7,410,906 of contributed capital that includes $7,271,306 of Federal, $53,775 of State, and $85,825 of private sources which is being retired on an annual basis, The unamortized balance as of December 31, 2001, was $2,529,753. The Airport is the only fund that amortizes its contributed capital at this time. The Waterworks Utility Fund has S 112, 116,546 of contributed capital, the Solid Waste Utility Fund has S 166, l 66, the Golf Course Fund has S 1,412,225, and the Equipment Rental Fund has $2,282,377. These funds' contributed capital are not being retired. NOTE 8 -PREPAID ITEMS The General Fund has recorded $8,000 of prepaid items at December 31, 2001. This amount represents prepaid postage charges to be expensed in 2002. The Insurance Fund has recorded $3,000 of prepaid items at December 31, 2001. This amount represents a $3,000 revolving fund established to pay claims by our insurance broker. NOTE 9 -JOINT VENTURE The Valley Communications Center (Valley-Com), an emergency dispatch operation, was established August 20, 1976, when an lnterlocal Agreement was entered into by four participating municipal governments, that include the cities of Renton, Kent, Auburn and Tukwila, The provisions and terms of the "lnterlocal Cooperation Act" pursuant to R.CW. 39.34 sanction the agreement. The initial duration of the agreement was five years, and thereafter is automatically extended for consecutive two-year periods, unless terminated by one or more of the participating cities. Any such termination must be in writing and seNed upon the other cities on or before July l in any one year, and such termination shall then become effective on the last day of such year. On August 4, 1999 the Administration Board of Valley Communications Center voted to include the City of Federal Way as a full participating Member City as of January l, 2001. A new lnterlocal Agreement pursuant to RCW 39.34, et seq., was entered into by the five participating municipal corporations, that include the cities of Auburn, Federal Way, Kent, Renton, and Tukwila on April 17, 2001. This agreement reaffirmed Valley Communications Center as a governmental administration agency pursuant to RCW 39.34.030 (3) (b). 45 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 The duration of the agreement is for five (5) years from its effective date, January l , 200 l and, shall automatically be extended for an additional five (5) year period unless terminated as provided. However, the agreement shall not be terminated until all bonds issued by Valley Communications Center Development Authority have been paid and retired. During 2001, the Valley Communications Center Development Authority was created to issue $12, 758,000 in General Obligation Bonds to finance construction, equipment, and land for a new facility to be completed in 200 I . Each of the five participating cities is responsible for one-fifth of the debt obligation, which is $2,551 ,600. The purpose of the joint operation, hereafter referred to as Valley-Com, is to provide improved consolidated emergency communications (dispatch) services for police, fire, and medical aid, to the five participating cities and to the several subscribing agencies, which include King County Fire Districts #2, #17, #20, #26, #40, #43, #44, #47: City of Pacific Police and Fire Departments, City of Algona Police Department, City of Des Moines Police Department, City of Black Diamond Police Department, and King County EMS Units. Separate agreements between Valley-Com and the subscribing agencies have been executed, which set forth conditions at services and rates charged. The allocation of prorated financial participation among the five participating cities is the percentage of dispatched calls attributed to each jurisdiction compared to the total estimated dispatched calls, for the current twelve month period ending December 31. The percentages are applied to the current approved budget, less revenue from all other sources. Distribution of current year net income is based on the same percentages. The 200 l cost distributions for the four participating cities were as follows: TABLE 14: JOINT VENTURE COST DISTRIBUTION DISPATCHABLE PERCENT 2001 CITY CALLS OF TOTAL ASSESSMENTS Renton 63,378 19.07% s 980.653 Kent 91.625 28.08% 1.444,492 Auburn 66.908 20.19% 1.038,622 Tukwila 37.980 10.96% 563.597 Federal Way 71,629 21.70% 1.116. 148 TOTAL 331,520 100.00°/o $ 5, 143,512 Valley-Com is governed by an Administration Board, composed of the Mayors or designated representatives from the five participating cities of Renton, Kent. Auburn, Tukwila, and Federal Way. The Administration Board is responsible for the following functions: a) Recommend action to the legislative bodies of the participating members; b) Review and approve budget expenditures; c) Establish policies for expenditures of budget items for the Center; d) Review and adopt o personnel policy for the Valley Com Center; e) Establish a fund or special fund or funds as authorized by RCW 39.34.030 for the operation of the Valley Com Center; f) Conduct regular meetings as many be designated by the Administration Board; g) Determine what services shall be offered and under what terms they shall be offered; h) Enter into agreements with third parties for goods and services necessary to fully implement the purposes of this agreement; I) Establish rates for services provided to other members. subscribers or participating agencies; j) Direct and supervise the activities of the Operations Board and the Center Director; k) Incur debt in the name of the Center to make purchases or contract for services necessary to fully implement the purposes of this agreement; I) Enter into agreements with, and receive and distribute funds, from any federal, state, or local agencies; m) Receive all funds allocated to the Center from its members; n) To purchase, take, receive, lease, take by gift, or otherwise acquire, 46 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 own, hold, improve, use and otherwise deal in and with real or personal property, or any interest therein, in the name of Valley Communications Center; o) To sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all of its property and assets; p) To sue and be sued, complain and defend, in all courts of competent jurisdiction in the Center's name; q) To make and alter by-laws for the administration and regulation of its affairs; r) Enter into contracts with future participating members and subscribers to provide communications services; s) To hold radio frequency licenses to enable the Center to operate radio communications and dispatch systems to meet its public safety responsibilities; and t) Any and all other acts necessary to further Valley Communication Center's goals and purpose. In addition, an Operations Board provides direction, and consists of two members of each participating city's Public Safety Departments, including the heads of such departments or their designees. The Operations Board performs the following functions: a) Oversee the operation of Valley-Com, and advise and make recommendations to the Administration Board; b) Make recommendations on Director selection; c) Present proposed policies and budgets to the Administration Board; and, d) Approve disbursement of funds by the Director. The Director presents a proposed budget to the Operating Board on or before August 15 of each year. Said budget is then presented to the Administrative Board by September l of each year. The Administrative Board can make changes to the proposed Valley-Com budget as it finds necessary, but final approval falls to the legislative body of each participating city, in accordance with the provisions of the lnterlocal Agreement. Tables 15 and 16 show the condensed financial position as of December 31 , 200 l, and the results of operation and changes in retained earnings tor the year ended 200 l. Audited 200 l financial statements are available from Valley-Com. TABLE 15: BALANCE SHEET ITEM ASSETS: Current Assets Restricted Assets Property, Plant, and Equipment Unamortized Bond Premium TOTAL ASSETS LIABILITIES AND FUND EQUITY: Current Uabillties Long-Term liabilities TOTAL LIABILITIES Retained Earnings Contributed Capital TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY 47 s AMOUNT 6.841,345 2.457.762 16,584.110 2.669 $ 25,885,886 $ 725.459 241.204 966,663 17.955,521 6.963,702 24,919,223 $ 25,885,886 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 16: STATEMENT Of REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS ITEM AMOUNT OPERATING REVENUE: Intergovernmental Charges s 6,821,532 Other Operating Revenue 6,229 Total Operating Revenue 6,827,761 OPERATING EXPENSES: 6,006,311 Net Operating income 821,450 NON-OPERATING REVENUE (EXPENSES> Interest and !\1iscellaneous Revenue 360,930 Construction Funds 6,500,000 Total Non-Operating Revenue (Expenses) 6,860,930 Net Income Closs) 7,682,380 Retained Earnings at Beginning of Vear 10.273.141 Retained Earnings at End of Year 17,955,521 Contributed Capital 48,502 800-Mhz Contributed Capital 6,915.200 TOTAL FUND EQUITY AT ENO OF YEAR $ 24,919,223 The share of equity belonging to the five participating cities is shown in Table 17 below. Liabilities are the responsibility of the five participating cities in direct proportion to their equity position. TABLE 17: JOINT VENTURE EQUITY ITEM RENTON KENT AUBURN TUKWILA FEDERAL WAY TOTAL Equity January l , 200 l s 2.546, 163 s 3.247,038 $ 2.266.521 s 1.715,909 s 569,630 s 10,345.261 Current Year Increase 1.541,096 2217,346 1.521 .454 976.734 1.402, 132 7,658.762 E9u!!l': December 31, 2001 $ 4,087,259 $ 5,464,384 $ 3,787,975 $ 2,692,643 $ 1,971,762 $ 18,004,023 Percent of Equiiy 22. 7fJ'lo 30.35% 21.04%. 14.96°,{, 10.95°,{, 100.00% Percent of 200 l Distribution 20. 12°,b 28.95°/o 19.87°/c 12.75% 18.31% 100.0ITTo In August 1993, Valley-Com entered into an interlocal cooperation agreement, pursuant to RCW 39.34, with the subregions of King County, Seattle, the Eastside Public Safety Communications Agency and the Port of Seattle. This agreement governs the development, acquisition and installation of the 800-megohertz emergency radio communications system funded by a $57 million King County levy approved in November 1992. This agreement provides that, upon voluntary termination of any subregion's participation in the system, it surrenders its radio frequencies, relinquishes its equipment and transfers any unexpended levy proceeds and associated equipment replacement reseNes to another subregion or consortium of subregions. In accordance with this agreement. the participating cities of Valley-Com have no equity interest in Valley-Com's 800-megahertz contributed capital (King County levy distribution and interest earned) of $6,915,200 as of December 31, 2001. 48 ' ii NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 l NOTE 10 -PENSION PLAN & OTHER POST EMPLOYMENT BENEFITS All of the City's full-time and qualifying part-time employees participate in one of the following three defined benefit retirement systems: l) Public Employees' Retirement System (PERS); 2) Law Enforcement Officers and Fire Fighters Retirement System (LEOFF) which are both cost-sharing multiple-employer plans established by State statute and administered by the State's Department of Retirement Systems; and 3) The Firemen's Pension System established and administered by the City according to State statute, The City's total payroll for all employees was $36,018,289 for the year ended December 31, 200L TABLE 18: PERS AND LEOFF INFORMATION BY PLAN PERS PLAN I PERS PLAN II LEaFF PLAN I LEOFF PLAN II (MEMBERSHIP (MEMBERSHIP (MEMBERSHIP (MEMBERSHIP PRIOR TO ON OR AFTER PRIOR TO ON OR AFTER ITEM 10/1/77) 10/1/77) 10/1/77) 10/1/77) VESTING REQUIREMENT: Service year required for vesting of benefits 5/25/30 5/20' 5 5/20 Retiring age for vesting of benefits 60/55/any age 65/55' 50 58/50 EMPLOYEE CONTRIBUTION: Required Rate@ 12/31/01 6.00% 0,88% 0,00% 4.50% Contribution Amount for 200 l s 143,536 s 296,950 s 201 s 675,644 EMPLOYER CONTRIBUTION: Required Rate@ 12/31/01 l.77% 1.77% 0.23% 2.93% Contribution Amount for 2001 s 79,263 $577,ll? s 3.834 s 433,021 " Receive Reduced Benefits. PUBLIC EMPLOYEES' RETIREMENT SYSTEM (PERS) Plan Description The PERS system was established by the State legislature in 1947 under Revised Code of Washington (RCW) Chapter 4L40. Membership in the system includes elected officials, state employees, and employees of local government. Approximately 46% of PERS members are state employees, The PERS system consists of two plans. Participants who joined the system prior to October 1 , 1977 are Plan I members. Participants joining October l, 1977 and after are Plan II members. Retirement benefits are financed from employee and employer contributions and investment earnings. Retirement benefits in both plans are vested after completion of five years of eligible service. Both plans provide retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Funding Policy The State legislature establishes Plan I employer contribution rates, and Plan II employer and employee contribution rates each biennium. Employee contribution rates for Plan I are established by statute and do not vary from year to year. See Table 18 for information regarding contribution rates and employer/employee contributions as of December 31, 2001. 49 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 LAW ENFORCEMENT OFFICERS & FIRE FIGHTERS RETIREMENT SYSTEM (LEOFF) Plan Description The LEOFF system was established by the State legislature in 1970 under Revised Code of Washington (RCW) Chapter 41.26. Membership includes all full-time law enforcement officers and fire fighters. LEOFF is comprised solely of non-state employees. The LEOFF system consists of two plans. Participants who joined the system prior to October l, 1977 are Plan I members. Participants joining October l, 1977 and after are Plan II members. Retirement benefits are financed by employee and employer contributions. investment earnings, and legislative appropriation. Retirement benefits in both plans are vested after completion of five years of eligible service. Both plans provide retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Funding Policy Pion I employers and employees are required to contribute at a prescribed rate and the State is responsible for the balance of the funding. Plan II employers and employees are required to contribute at levels established by the State legislature. The contribution rates are developed by the Office of the State Actuary in order to fund the system. See Table 18 for information regarding contribution rates and employer/employee contributions as of December 31, 2001. TABLE 19: PERS AND LEOFF INFORMATION BY SYSTEM ITEM (DOLLARS IN MILLIONS) PERS LEO FF City Participating Payroll $ 20.351 $ 13.539 Plan I City Contribution Rate@ 12/31/01 1.77% 0.23% Plan II City Conllibution Rate@ 12/31/01 l .77°!o 2.93% City Plan Contribution: 2001 $ 0.656 $ 0.437 2000 s 0.834 s 0.492 1999 s 1.087 s 0.583 1998 s 1.283 s 0.636 1997 s 1.230 s 0.608 Plan I Employee Contribution Rate@ 12/31/01 6.00% 0.00% Plan II Em[210iee Contribution Rate@ 12/31/01 0.88% 4.50% "" AU required contributions to both systems were made by the city and the employees, Historical trend and other information regarding the PERS and LEOFF plans are presented in the State Department of Retirement Systems 2001 Comprehensive Annual Financial Report. A copy of this report may be obtained by contacting the Department of Retirement Systems. Administrative Services Division, PO Box 48380, Olympia, WA 98504-8380. FIREMEN'S PENSION Plan Description The City is the administrator of a Firemen's Pension Plan, a closed, single-employer. defined benefit pension plan established in accordance with Revised Code of Washington (RCW) 41.18 and in accordance with the Renton Municipal Code. This plan provides retirement and disability benefits. annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. This system was established for fire fighters employed prior to March l, 1970, when 50 ~ z I NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 the LEOFF retirement system was established. The retirement benefits vest after 20 years of service. Members may retire after 25 years of service regardless of age; and after age 50 with 20 or more years of service. The Firemen's Pension Plan is considered part of the City's reporting entity and is included in the City's financial statements as a pension trust fund. The report may be obtained by contacting the City of Renton Finance Department, 1055 South Grady Way, Renton, Washington 98055. At December 31, 2001, there were 43 members in the System. This includes 36 retirees and beneficiaries currently receiving benefits; 7 retirees currently receiving full retirement benefits through the Law Enforcement Officers and Fire Fighters Retirement Plan (LEOFF); and no vested or non-vested active members. Funding Policy Under State law, the Firemen's Pension Plan is provided an allocation of all monies received by the State from taxes on fire insurance premiums; interest earnings; member contributions made prior to the inception of LEOFF; and City contributions required to meet projected future pension obligations. Costs of administering the Firemen's Pension Plan are paid by the Plan. For 2001, this cost was S 13 ,040. An actuarial valuation was completed as of January 1 , 2001 . Significant actuarial assumptions used in the valuation include: 1) 5°1o inflation rate; 2) 6°1o investment return, compounded annually; 3) 5°1o salary increase annually; 4) 5°1o post-retirement benefit increase annually; 5) level dollar amortization method; and 6) 30-year open amortization period. All assets are carried on a market value basis. There were no material changes to the benefit provisions, actuarial funding method or other significant factors that affect contributions required. TABLE 20: ANNUAL PENSION COST AND NET PENSION OBLIGATION FISCAL YEAR ENDING ANNUAL REQUIRED CONTRIBUTION (ARC) Annual Normal Cost Beginning of Year Amortization of UAL Beginning of Year Interest to End of Year ARC at End of Year Add Interest on NPO (Net Pension Obligation) Subtract Adjustment to ARC Annual Pension Cost (APC) Subtract Employer Contributions Change in NPO NPO of Beginning of Veer NPO at End of Year $ $ DECEMBER 31, 2000 2.180 90.826 6.510 99,516 (4,738) (5,098) 99,876 44.582 (55,294) (67,686) (12,392) TABLE 21: SCHEDULE OF FUNDING PROGRESS (Rounded to thousands) UNFUNDED ACTUARIAL ACTUARIAL ACTUARIAL ACCRUED ACCRUED VALUATION VALUE OF LIABILITIES LIABILITIES FUNDED DATE ASSETS ENTRY AGE (UAAL) RATIO January l, 1997 s 5.238 s 6,444 Sl.206 81.28% January l. 200 l s 7,067 s 6,780 (287) 104.2% 51 I DECEMBER 31, 2001 $ $ COVERED PAYROLL s 260 s 0 0 (19,675) (l.180) 0 (867) (943) 76 50,703 (50,627) (12,392) (63,019) UAALASA PERCENTAGE OF COVERED PAYROLL 463 85% N/A FISCAL YEAR ENDING December 31 , 1999 December 31, 2000 December 31, 2001 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 22: SCHEDULE OF EMPLOYER CONTRIBUTIONS ANNUAL AClUAL ACTUAL TOTAL REQUIRED EMPLOYER FIRE INSURANCE EMPLOYER CONTRIBUTION CONTRll'IUTION PREMIUMS CONTRIBUTIONS CARC) (j 75,340 75,340 99,516 0 44,582 44,582 99,516 0 50,703 50,703 0 PERCENTAGE OF ARC CONTRIBUTED 75.71% 44.80'% NIA TABLE 23: GASll STATEMENT NO, 27 THREE-YEAR TREND INFORMATION (Rounded to thousands) CONTRIBUTION ANNUAL ASA NET PENSION FISCAL YEAR PENSION COST PERCENTAGE OBLIGATION ENDING (APC) OF (APC) (NPO) December 31 , 1999 $100,007 75.33% ($67,686) December 31 , 2000 s 99,876 44.64% ($12,392) December 31 , 2001 76 667.14°/o ($63,019) TABLE 24: ANNUAL DEVELOPMENT OF PENSION COST TOTAL ARC EMPLOYER FISCAL YEAR ARCATEND INTEREST ON ADJUST-CONTRIBU-CHANGE IN NPO ENDING OF YEAR NPO MENT APC TIONS NPO BALANCE 12/31/99 99,516 (6,465) (6,956) 100,007 75,340 24,667 (67,686) 12/31/00 99,516 (4,738) (5,098) 99,876 44,582 55,294 (12,392) 12/31/01 0 (867) (943) 76 50,703 50,627 (63,019) The Annual Required Contribution has been calculated under the Entry Age Normal Cost Method Employees are not required to make contributions, The contributions to the System for 2001 include $50,703 from fire insurance premiums and $459,697 of investment income, OTHER POST EMPLOYMENT BENEFITS In addition to the pension benefits described in Note 10, the City provides post employment benefits in accordance with State statute to all LEOFF I (law enforcement officers and fire fighters hired prior to 10/1 /77) and Fire Pension (fire fighters hired prior to 3/l /70) retirees. Currently there are 99 LEOFF I retirees who receive necessary medical and hospitalization coverage and 5 retirees who are covered solely by the Fire Pension Plan and receive medical coverage limited to treatment of service-related disabilities only. Expenditures for post employment health care benefits are recognized as retirees report claims. The City does not have a funding policy at this time and no assets are designated for this purpose. During the year, expenditures of $389,708 were recognized for post employment health care, 52 , I NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 State statute provides that the City's responsibility for medical payments of LEOFF I retirees is secondary to any other coverage retirees receive or are eligible to receive. The City recognizes a potential savings exists when retirees utilize Medicare as primary coverage and the City for secondary coverage and ineligible expenses. Therefore, upon reaching age 65, the City requires the retirees to apply for and utilize Medicare Part B coverage. The City reimburses these Medicare premiums at an average cost of approximately $54.00 per month for 35 LEOFF I retirees and 5 Fire Pension retirees. NOTE 11 -CONSTRUCTION COMMITMENTS At December 31 , 2001 , the City had significant contractual construction commitments. These are listed in Table 25: TABLE 25: CONSTRUCTION COMMITMENTS PROJECT TITLE Waterworks Improvements Airport Improvements Community Services Improvements Street Improvements COMMITMENT s 883.657 219,134 639.895 l,299,516 NOTE 12 -LONG-TERM DEBT AND CAPITAL LEASES FUNDING SOURCE Public Works Trust Fund Loans/Grants Genera!; Grants General/Grants General/Grants Ii The City of Renton's long-term debt consists of General Obligation Debt, repaid mainly from general governmental revenue sources; Special Assessment Debt, repaid from special assessment payments from participants; and Proprietary Debt, repaid from proprietary revenues. These debts are accounted for in the following areas: 1) The outstanding general obligation debt and special assessment debt are reported in the General Long-Term Debt Account Group; 2) The repayment, or debt seNice of the same, is recorded in the Debt SeNice Funds; and 3) The proprietary debt liability and repayment of the same are reported in individual Proprietary Funds. The City has AAA and A 1 bond ratings from independent rating agencies for its General Obligation Bonds and Revenue Bonds respectively. Table 26 summarizes long-term debt transactions of the City for the year ended December 31 , 2001. A detail of all outstanding debt of the City is listed in Table 27. 53 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 26: LONG TERM DEBT ADDITIONS AND RETIREMENTS SUMMARY PAYABLE PAYABLE ITEM 1/1/01 ADDED RETIRED 12/31i01 GENERAL: General Obligation Bonds $ 24,126,908 $ 19,505,000 $ 14,536,325 $ 29,095,583 Installment Contracts 218,830 0 25,122 193,708 Special Assessment 320,000 0 185,000 135.000 Emeiovee Leave Benefits 4,224.352 l ,259 0 4,225,6 ll TOTAL GENERAL $ 28,890,090 $ 19,506,259 $ 14,746,447 $ 33,649,902 PROPRIETARY: Revenue Bonds s 25.020,000 $ 0 s 1,950,000 $ 23,070,000 Installment Contracts 70.160 0 70,160 0 Capital Leases 86,609 0 40,953 45,656 Employee Leave Benefits 420,250 26,001 0 446,251 Public Works Trust Fund Loans 8.645.788 0 751,431 7,894,357 TOTAL PROPRIETARY $ 34,242,807 $ 26,001 $ 2,812,544 $ 31,456,264 TOTAL ALL FUNDS: Genera! Obligation Bonds s 24,126,908 $ 19.505,000 s 14,536,325 $ 29,095,583 Revenue Bonds 25,020,000 0 1.950,000 23,070,000 Installment Contracts 288,990 0 95,282 193,708 Capita! Leases 86,609 0 40.953 45.656 Special Assessment 320,000 0 185,000 135,000 Employee Leave Benefits 4,644,602 27,260 0 4.671,862 Public Works Trust Fund Loan 8,645,788 0 751,431 7,894,357 TOTAL ALL FUNDS $ 63, 132,897 $ 19,532,260 $ 17,558,991 $ 65, 106, 166 ~ 54 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 l TABLE 27: OUTSTANDING DEBT AS OF DECEMBER 31, 2001 ITEM General Obligation Bonds: Limited 1989 GO Refunding Bonds 1993 GO Refunding Bonds 1994 GO Bonds 1996 GO Bonds 1997 G 0 Refunding Bonds 1997 Go Bonds 2001 GO i(:efunding Bonds 2001 G O Bonds SUBTOTAL LIMITED GO Uniimited 1993 GO Refunding Bonds-Coulon Park 1993 G 0 Refunding Bonds-.-Senior Housing SUBTOTAL UNLIMITED GO TOTAL GENERAL OBUGATION BONDS Installment Contracts: Certificates of Participation TOTAL INSTALLMENT CONTRACTS TOTAL GENERAL OBLIGATION DEBT Revenue Bonds: 1992 water/Sewer 1992 Water/Sewer Refunding 1993 water/Sewer ·1993 Water/Sewer Refunding 1994 Water/Sewer 1998 water/Sewer Refunding 1999 Goif System Refunding TOTAL REVENUE BONDS Public Works Trust Fund Loons: Northwest 7th Sewer Repair Sierra Heights Sewer Improvements Central Renton Sewer Replacement East Renton Interceptor Doyton Avenue NE Sanitary Sewer Grouting NE 27th/ Aberdeen Drainage Improvements East Kennydaie Interceptor Honeycreek Interceptor Rolling Hills Reservoir Corrosion Control Treatment Facilities TOTAL PUBLIC WORKS TRUST FUND LOANS Installment Contracts (Proprietory Funds): Metro (Cedar River Trunk Project) TOTAL !NSTAUMENT CONTRACTS Capital Leases: John Deere Equipment John Deere Equipment Yamaha Golf Course Carts TOTAL CAPITAL LEASES LID Bonds and Notes: 329 Street/Utiiities TOTAL LID BONDS AND NOTES Employee leave Benefits TOTAL OUTSTANDING DEBT INTEREST RATES 6.75%-7.00% 3.0G-'h-4-80% 4.60%-6.30'% 4.25%-SJlO'Y" 5.25%-5.55% 5.55%-5.75% 2. 10%-4.85% 4.90%-5,00% ISSUED DATE 06/01 /89 08/01/93 12/01/94 10/15/96 05/01/97 05/01/97 10/18/0l 10/18/01 MATURITY DATE 05/01/02 06/01/02 12/01/04 10/15/06 12/01/06 12i0l/17 12/01/17 12/01/21 4.00%-6.10% 09/0i/93 05/01;02 2.70%-5.20% 09/01/93 02;0li09 4.51% 3.50%-6.50% 3.50%--6.35% 3-00"k-5.375% 3.00%-5.375% 5.45%--6.55% 3.70"%-5. 10% 3.25%-5.30% 5.00% 3.00% 1.00% 2.003 2DO% 2.00% 100% 2.00% 2.00% 1.00% 1.00% 5.00-5-253 9.50% 10.39% 5.44% 09/01/98 06/01/08 06/01/92 06/01/92 08/01/93 08/01/93 11/01/94 03/01/98 04/01i99 12/31/91 10/20/92 06/14/93 06/14/93 05/24/94 05/19/94 06/27 /95 06/26!96 06/26;96 03/26/96 03/26/96 12/01/96 12/01 /02 12/01/06 04i0l/13 04/01 /JO 11/0i/04 06/01/13 12101/15 07/01/01 07/01/12 07/01/15 07/01/13 07/0i/14 07/01/04 07 /01 /15 07/01/16 07/01/16 07/01/01 07/01/17 12/01/01 10/01/97 09/01/02 10/01/97 09/01/02 04/01 /00 04/01 /03 04/01/93 04/01/02 55 TOTAL AMOUNT ISSUED 2.085.000 4,910,000 980,000 553,337 2.683,827 14.697,744 13,505,000 6DOO,OOO 45414,908 4,660,000 4270,000 8,930,000 54,344,908 278,172 278 172 $ 54,623,080 $ 4.000,000 4.635.000 5285,000 8,860,000 3,570,000 6,120,000 5,040,000 37,510,000 84,779 888A62 1,631,800 2,542,704 96,958 349.011 731,000 2,093,740 l ,840.568 154,400 1.106,000 $ 11 519,422 $ 314952 314,952 21298 42,473 80.668 144,439 $ 1,654,063 $ 1,654,063 $ 0 105,765,956 OUTSTANDING 1/l/01 ISSUED REDEEMED 12/31/01 565,000 1.670,000 65.000 470.337 2,683,827 14.697,744 0 0 20 151,908 270,000 3.705.000 3975 000 24,126,908 218.830 0 0 0 0 0 0 13505.000 6,000,000 19,505,000 0 0 0 19,505,000 0 218 830 0 $ 24,345,738 $ 19,505,000 $ 350,000 2.530,000 3,980,000 7,175,000 790.000 5,645.000 4.550.000 $ 25,020,000 $ $ 9.419 s 307,709 124L322 1,749.410 71,443 247 209 638,847 1369672 1.549,952 67,550 893255 0 0 0 G 0 0 G 0 0 0 0 0 c 0 0 0 0 0 0 275.or'..iO 815,000 0 16.325 0 12,660,000 310,000 0 14,076,325 130,000 330,000 460,000 14,536,325 25,122 290.000 855,000 65,000 454.012 2,683,827 2,037,744 13,195,000 6DOODOO 25,580,583 140,000 3,375,000- 3 515 000 29 095,583 193,708 25 122 193 708 $ 14,561,447 $ 29,289 291 s 170,000 360.000 220,000 750,000 180,000 50,000 220,000 $ 1,950,000 0 9A19 25,642 87.484 134,570 5,103 61,802 42B?O 116.855 96.872 67,550 103,544 $ 180,000 2,170,000 3.760,000 6,425.000 610,000 5595,000 4,330,000 $ 23,070,000 $ 0 282,067 1,153,8-38 1,614,840 66,340 185A07 596257 1,752,817 l,453,080 0 789.71 l $ 8,645,788 $ 0 $ 751,431 $ 7 894,357 70, 160 s 0 $ 70, 160 s 0 $ 70,160 $ 0 $ 70,160 $ 0 $ 8,179 s 16.514 61,916 86,609 $ 0 0 0 0 s 320,000 $ 0 $ 320,000 $ 0 4,644,602 $ 27,260 $ 63, 132,897 $ 19,532,260 4.752 9.565 26.636 3,427 6,949 35,280 40,953 $ 45,656 $ 185,000 s 135,000 $ 185,000 $ 135,000 $ 0 $ 4,671,862 17,558,991 $ 65,106 166 DEEP DISCOUNT DEBT NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 l The 1996 Limited General Obligation Bond Issue included capital appreciation bonds that are issued at a deep discount. The deep-discount debt will mature in the years 2005 and 2006 with an accreted value of $25,000 and $194,000 respectively. The deep-discount debt is reported in the General Long Term Debt Account Group in the amount of $127,012, net of the remaining unamortized discount. The 1997 Limited General Obligation Bond issue included capital appreciation bonds that are issued at a deep discount. The deep-discount debt will mature in the years 2006, 2007, and 2008 and 2009 with an accreted value of $335,000, S 1,245,000, $1,250,000 and 1,000,000, respectively. The deep-discount debt is reported in the General Long Term Debt Account Group in the amount of $2,037,744, net of the remaining unamortized discount. SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT As of December 31, 2001, a total of $135,000 of long-term special assessment debt was outstanding. This debt was issued to fund capital improvements to enhance the utility, accessibility and aesthetic value of property within the City of Renton. The source of repayment of this debt is in the form of assessments against benefiting property owners. In the event of default by one of these property owners the City is obligated for repayment, and has established a guaranty fund for that purpose. As of December 31, 2001, special assessment receivables totaled $697 ,827 that includes $658 of delinquent assessments. In the guaranty fund, $161,420 represents 119.6% of special assessment debt outstanding. DEBT LIMIT CAPACITIES State law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable property of the City: 1.5% without a vote of the people provided the indebtedness with a vote is 1% or less; 2.5% with a vote of the people; 5.0% with a vote of the people, provided the indebtedness in excess of 2.5% is for utilities; and 7.5% with a vote of the people, provided the indebtedness in excess of 5.0% is for open space development and parks facilities. At December 31, 2001, the debt limits for the City were as follows: ITEM Legal limit Outstanding Net Indebtedness Capacity Available REFUNDED DEBT TABLE 28: DEBT LIMIT CAPACITIES WITHOUT A VOTE s 75.939,626 25, 120.265 $ 50,819,361 $126,566,044 27,946,058 $ 98,619,986 WITH A VOTE OF THE PEOPLE s 253, 132.088 0 $ 253, 132,088 s 379,698.132 27.946,058 $ 351,752,074 As of December 31 , 2001 , the City's refunded debt includes six outstanding general obligation and revenue bond issues. The proceeds of the new refunding bond issues have been placed in an irrevocable trust to provide for all future debt service payments on the old bonds. As a result, the refunded bonds are considered to be defeased and the liability has been removed from the City's financial statements. Schedules of assets, liabilities, and equity as of December 31, 2001, and changes to refunded bonds payable are provided in the following tables. 56 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 29: REFUNDED BONDS ITEM ASSETS: Cash with Trustee Investments with Trustee Estimated !nterest Receivable TOTAL ASSETS UABIUTIES: Refunded Bonds Payable EQUITY: Earnings with Trustee TOTAL LIABILITIES AND EQUITY $ U.S. BANK CORPORATE TRUST 5.893 23.192.861 1.070,976 $ 24,269,730 $ 22.095.000 2.174.730 $ 24,269,730 TABLE 30: CHANGES TO REFUNDED BONDS PAYABLE BALANCE ITEM 12/31/00 INCREASE DECREASE Refunded Bonds Payable GO $ 485.000 $ 12.660 ,000 $ 280.000 Refunded Bonds Payable Revenue 9,410,000 0 180.000 TOTAL $ 9,895,000 $12,660,000 $ 460,000 REFUNDING BOND ISSUES -2001 200 I Limited Tax General Obligation Refunding Bonds BALANCE 12/31/01 $12.865DOO 9.230,000 $22,095,000 On November 1. 2001, the City issued $13,505,000 in Limited Tax General Obligation Refunding Bonds with an average interest rate of 5.02% to advance refund $12.660.000 of outstanding 1997 Limited Tax General Obligation Bonds. The net proceeds were used to purchase U.S. government securities which were deposited with an escrow agent to provide for all future debt service payments on the refunding bonds. As a result, these bonds are considered def eased and the liability for these bonds have been removed from the General Long-Term Debt. The advance refunding resulted in a reduction in the aggregate debt service payments of $451.804. In addition, the economic gain (difference between the present values of the old and new debt service payments) was $393.062. DEBT SERVICE TO MATURITY Following is a schedule showing the debt service requirements to maturity for the City's long-term debt. Formulas have been implemented to compute the principal and interest obligations for the special assessment debt as it is redeemed in direct proportion with special assessment collections from district participants. A formula has also been used to compute the interest requirements on the general obligation debt that carries a variable interest rate tied directly to the prime rate. Deep-discount debt is reported at face value at maturity. 57 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 TABLE 31: DEBT SERVICE REQUIREMENT TO MATURITY (DOLLARS IN THOUSANDS) CAPITAL LEASES/ TOTAL LONG TERM REVENUE PW TRUST INSTALLMENT SPECIAL TOTAL LONG GO DEBT BONDS FUND LOANS CONTRACTS ASSESSMENT TERM DEBT YEAR !PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I 2002 1.714 l,182 2,030 1,139 620 97 39 135 7 4538 2,426 2003 1282 1,473 2,160 i,033 621 88 7 0 0 0 4,070 2,594 2004 1,337 1,416 2275 920 621 81 0 0 0 0 4233 2,417 2005 l,231 1,528 2,390 794 559 74 0 0 0 0 4,180 2,396 2006 1200 L562 2270 674 558 68 0 0 0 0 4,028 2,304 2007 l,257 1,573 1,870 569 558 61 0 0 0 0 3,685 2203 2008 1,238 1,589 1,965 473 558 54 0 0 0 0 3}61 2,116 2009 1,330 i,476 1,720 379 558 48 0 0 0 0 3,608 1,903 2010 l,350 939 1,645 295 558 41 0 0 0 0 3,553 1,275 2011 l,400 885 l,360 219 558 34 0 0 0 0 3,318 l,138 2012 1,455 829 1,430 148 559 26 0 0 0 0 3,444 1,003 2013 1,530 753 1,150 82 533 19 0 0 0 0 3213 854 2014 l,610 673 395 42 363 13 0 0 0 0 2,368 728 2015 l,695 588 410 22 358 8 0 0 0 0 2,463 618 2016 l,785 499 0 0 263 4 0 0 0 0 2,048 503 2017 l,875 406 0 0 49 l 0 0 0 0 l ,924 407 2018 l,385 307 0 0 0 0 0 0 0 0 1,385 307 2019 1,460 234 0 0 0 0 0 0 0 0 1,460 234 2020 l,540 158 0 0 0 0 0 0 0 0 IMO 158 2021 I ,615 81 0 0 0 0 0 0 0 0 1,615 81 TOTALS $ 29 289 $ 18,151 $ 23,070 $ 6,789 $ 7,894 $ 717 $ 46 $ 1 $ 135 $ 7 $ 60,434 $ 25,665 AMOUNT AVAILABLE FOR DEBT SERVICE Fund balances that have been reseNed for debt repayment are $2,546,129 in the debt service funds, CAPITAL LEASES The City entered into lease agreements in 1997 and 2000 as lessee for financing the acquisition of golf carts and lawn equipment for its Municipal Golf Course, The leases qualify as capital leases for accounting purposes, Therefore, at inception of the leases, the equipment was recorded as assets with a corresponding long-term liability equal to the present value of the future lease payments that totaled $144,439, The fund records lease payments as reductions of the long-term liability and as interest expense over the life of the lease, As of December 31, 2001, the current and long-term portion of capital leases payable were $38.418 and $7.238. respectively, Table 32 provides the future minimum lease obligations and the net present value of these minimum lease payments as of December 31 , 200 l , 58 I NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 Table 32: Capital Lease Obligations YEAR ENDING DECEMBER 31, 2001 2002 Tota! Minimum lease Payments Less: Interest PRESENT VALUE OF MINIMUM LEASE PAYMENTS NOTE 13 ·DEFERRED CHARGES IN PROPRIETARY FUNDS GOLF COURSE FUND 39,979 47 280 (l ,624) $ 45,656 In accordance with generally accepted accounting principles for regulated businesses, the Waterworks Utility Fund had a deferred cost of $320,000 in 1982 that was a Utility Fund payment for construction of a new City Shop facility, which was occupied in mid-1984. The facility was constructed from the proceeds of a $2,300,000 General Obligation Bond Issue. The $320,000 will be credited toward the Utility's portion of the rental charge for the new facility and will be expensed over the 20-year life of the bond issue. As of December 31, 2001, there was a balance remaining of $32,000. NOTE 14 -RESERVATIONS AND DESIGNATIONS OF FUND EQUITY Following is an analysis of fund equity reservations and designations by type for each of the City's fund groups. TABLE 33: RESERVATIONS OF FUND EQUITY GENERAL DEBT CAPITAL TRUST & EQUITY RESERVED FOR: FUND SERVICE PROJECTS ENTERPRISE AGENCY TOTAL Debt SeNice /Arbitrage $ 0 $ 2,546,129 $ 0 $ 8.624, 119 $ 0 $ l l.170.248 Advances/Other Funds/Prepaids 83,000 0 920,000 0 0 1,003,000 Future Use 235,053 0 0 0 0 235,053 Emeloyees' Pension Benefits 0 0 0 0 8220,452 8.220,452 TOTAL $ 318,053 $ 2,546,129 $ 920,000 $ 8,624, 119 $ 8,220,452 $ 20,628,753 TABLE 34: UNRESERVED DESIGNATED FUND EQUITY EQUITY DESIGNATED FOR: GENERAL FUND Inmate Health & Welfare S 40,251 Investigative Fund Confiscations 90, 140 TOTAL $ 130,391 59 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 NOTE 15 ·SEGMENT INFORMATION FOR ENTERPRISE FUNDS The City maintains four enterprises whose operations are accounted for in the Enterprise Funds and are financed and operated in a manner similar to private business. It is generally intended that the costs of providing goods or services to the general public on a continuing basis should be financed or recovered primarily through user charges. Segment information for the year ended December 31, 2001 follows: TABLE 35: SEGMENT INFORMATION FOR ENTERPRISE FUNDS WATERWORKS SOLID GOLF TOTAL ENTERPRISE ITEM UTILITY AIRPORT WASTE COURSE FUNDS TOTAL OPERATING REVENUE $ 21,699,091 $ 855,740 $ 8,414,372 2,314,996 s 33,284,199 OPERATING EXPENSES: Operations & Maintenance 12.463,725 471,211 7.692,256 1,466.738 22,093,930 Administrative & General 1,853,671 148,875 0 0 2,002,546 Insurance 0 18.000 0 0 18.000 Taxes 1,734,324 0 l ,078,777 13,286 2,826.387 De12reciation 3,661.458 181,268 25.931 379,653 4,248,310 Total OperatinQ Exe!nses 19,713,178 819,354 8,796,964 1,859,677 31,189,173 Net Operating income Closs) 1,985,913 36.386 (382,592) 455,319 2,095.026 Non~Operoting Revenue Net of Exper,ses (786,989) 209.773 69,264 (198,906) (706.858) 0 eratin Transfers !n (Out) (77h50) 0 0 0 (77 ,650) Net Income (LOSS) $ 1,121.274 $ 246, 159 s (313,328) s 256,413 $ 1,310,518 Net \Norking CoQitOI s 4.583,323 $ 3,687 ,778 $ 854.67' $ l,l3L014 $ 10.256,786 Additions to Property, Plant and Eaui12ment. Net of Dis,gosals 10,374,325 681.586 (25.932) (172,574) 10,857,405 T otai Assets 166 J 63 ,trJ5 9541,366 1.147,972 10.621 .723 188,074,666 Long Term Debt. Net of Current Portion & Bond Premium/Discount 23.541,087 0 0 3,657,551 27, 198.638 Current CaQitai Contributions 7 .395.079 634,243 0 0 8,029,322 TOTAL FUND EQUITY $ 139,239,452 $ 9,049,768 $ 903,800 $ 6,546,951 $ 155,739,971 NOTE 16 ·LITIGATION The City is involved in several pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by insurance resulting from such litigation would not materially affect the financial statements of the City. NOTE 17 · RISK MANAGEMENT The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The City of Renton protects itself against unforeseen losses by utilizing a three-pronged risk management approach. First, the City self-funds first level losses through its Insurance Fund. Second, excess insurance is purchased to cover medium and large losses. And third, the City reserves the right to utilize the provisions of RCW 35A.31.060 to fund catastrophic or uninsured losses. This State statute allows cities to levy a non-voted property tax increase to pay for uninsured claims. An analysis of the self-insurance retention levels, limits of insurance, and claims administrators for the major types of coverages are presented in Table 36. During 2001, there were no reductions in insurance coverage, and settlements for the last three years have not exceeded insurance coverage. 60 g TYPE OF COVERAGE Property Liability Auto Uobillty Boller & Machinery Public Officials Crime Airpcrt Liability Underground Storage Tank Worker's Comp Employee Health NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 200 I TABLE 36: RISK MANAGEMENT RISK RETENTION RISK SHARING OCCURRENCE CLAIMS ADMIN AGGREGATE $ 25,000 WA Cities Ins Authority $ 500,000,000 (per occurrence subject to sub~Hmits) 250,000 WA Cities !ns Authority 14,000,000 (per occurrence) 250,000 WA Cities Ins Authority 14,000,000 (per occurrence) 5DOO Arthur J, Gallagher 50,000DOO 250,000 WA Cltles Ins Authority 10,000,000 10,000 Arthur J, Gallagher 1,000,000 0 Arthur J. Gallagher 50,000,000 10,000 Ar1tiur J. Gallagher 1,000,000 300,000 Johnston & Culberson 2,000,000 190,000 HMA, Inc N/A CARRIER WA Cities Ins Authority \VA Cities Ins Authority WA Cities Ins Authority Heriford Steam BoHer \/VA Cities Ins Authority Travelers Casualty & Surety Westchester Fire Ins Commerce & Industry Safety National Casualty Safeco The City's Risk Management Program is administered by the Human Resources and Risk Management Administrator, with claims being processed by the independent claims administrators noted in Table 36, As of December 31, 200 l , the City had accrued the following amounts for outstanding claims. TABLE 37: OUTSTANDING CLAIMS INCURRED/ INCURRED BUT NOT TOTAL CLAIMS COVERAGE REPORTED REPORTED PAYABLE Property & Liability s 0 $ 302,875 $ 302,875 Worker's Compensation 0 461,520 461,520 Employee Health 0 745,149 745, 149 TOTAL $ 0 $1,509,544 $1,509,544 Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated settlement value of both reported and unreported claims. The Insurance Fund is used for collecting interfund premiums from insured funds and departments, and for paying claims settlements, lnterfund premiums are assessed on the basis of claims history, number of employees, and value of assets. Table 38 below presents changes in claims liabilities for 2000 and 200L ITEM Cid.ms Liobi'iities at Beginning of Year Claims Expenses: Current Year and Changes in Estimates Claims Payments Ctaims Uobilffies at End of Year s $ TABLE 38: CHANGES IN CLAIMS LIABILITIES PROPERTY & WORKER'S EMPLOYEE LIABILITY COMPENSATION HEALTH 2001 2000 2001 2000 2001 2000 843, 175 $ l.125,180 $ 369,456 s 746,449 s 549,333 $ 313,285 117 ,648 241.415 751,649 (258,055) 4.929,067 4,057,809 (6-57,948) (523,420) (659,585) (118,938) (4,733,251) (3,821,761) 302,875 $ 843,175 $ 461,520 $ 369,456 $ 745,149 $ 549,333 61 TOTALS 2001 2000 s 1,761,964 s 2,184,914 5,798,364 4.041,169 (6.050,784) (4,464,119) $ 1,509,544 $ 1,761,964 NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2001 NOTE 18 -SUBSEQUENT EVENTS On April 8, 2002, the City Council authorized the issuance of bonds to finance the construction of Fire Station # 12, The amount of the bonds to be issued will be based upon requirements of the project and an amount determined from the fire mitigation fund The City Council is also considering the issuance of revenue bonds to finance various capital projects in the Waterworks Utility, 62 GENERAL FUND DECEMBER 31, 2001 The City of Renton's General Fund includes all financial transactions that are not properly accounted for in other funds. It is the largest accounting entity in the City and provides for most of the general operations except for park, street, and library functions, which are accounted for in special revenue funds. The major resource to the General Fund is general tax revenue. Licenses and permits, charges for service and fines and forfeits provide additional support. 63 GENERAL FUND COMPARATIVE BALANCE SHEET DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF l) ASSETS Cash and Cash Equivoients Investments at Fair Value Receivables: Taxes Accounts Interest or1 investments Due From Other Funds Due From Other Governmental Units Prepaid Items Restricted Assets: Deposits :nterfund Loons; Advances Non-Current TOT AL ASSETS UABIUTIES ANO FUND EQUiTY: UABILITiES: Vouchers/Contracts Payable Due To Other Funds Due To Other Governmentoi Units Accrued Taxes Payable Deposits Payable Deterred Revenues Accrued Empioyee Leave Benefits TOTAL LiABILIT!ES FUND EQUITY Fund Balance: Reserved for Future Use Reserved for Advonces/Prepaids/Contingency Unreserved -Designated: For Inmate Health & Welfare For Investigative Fund Confiscations Unreserved Undesignated TOTAL FUND EQUITY TOTAL LIABILITiES AND FUND EQUITY 64 2001 s 6,562,612 753,059 396,255 4. l39,046 86,391 7,378 162,705 8,000 0 75,000 '219Q446 s 672,565 104.827 1.332,776 2,921 44.299 3.077 ,534 209.156 5.444.078 235,053 83,000 40,251 90,140 6.297.924 6,746,368 s 12 190 44A 2000 s 637230 8,022.110 358241 3,704,822 389,986 4.886 144,649 8.000 88,617 75,000 s 1".433 541 469,445 254,263 1 ,695,248 938 0 2.469,428 207,214 5.096,536 228,673 83,000 34,077 I ' 98,452 7,892.803 8,337,005 134~~541 GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31. 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 1OF1) REVENUES Taxes Licenses And Permits lntergovemrnenta! Revenues Charges for SeN1ces Fines Ana Forfeits Contributions !nterest Misce!ianeous Revenues TOTAL REVENUES EXPENDITURES Current General Government Security Of Persons And Property Phys!col Environment Economic Environment Mente\ And Phys·ical Heam--, Cu:ture and Recreation Capitol Outioy TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FiNANCING SOURCES (USES) Operating Transfers (Out) Safe Of General Fixed Assets TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 FUND BALANCE DECEMBER 3 i 2001 31.482,675 2.110,600 l,966.122 4,196,915 944,671 101,783 1,208,435 158,530 42,169,731 8,977.920 23.596,319 1.878,916 3.487,376 6,756 177,039 141210 30265,536 3.904.195 (5,550,000) 55,168 (5,494,832) (1,590,637) 8,337,005 s Q 746 368 65 s s 2000 29.822.126 2,568.757 2,156.609 4, 129.214 974273 36,193 l,318.783 64258 4i.070.213 8.512.651 22.861,304 1,769,012 3,345.054 8,599 25.370 194.351 36,716.341 4.353.872 (1,560,051) 78,962 (1.481 .089) 2,872,783 5.464222 ~ 3~7 QD2 GENERAL FUND STATEMENT OF REVENUES. EXPENDITURES. AND CHANGES IN FUND BALANCE. BUDGET AND ACTUAL YEAR ENDED DECEMBER 31. 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 1) GENERAL VA1?lANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes 31,600.824 s 31,425.590 s (175.234) $ 29.860.285 Ucenses And Permits l,518,800 2,058.472 539,672 2.574.275 lntergovernmenta! Revenues 1.706,000 1,899.550 193,550 l ,923,024 Charges For Services 3.790.550 4,149,310 358.760 4, 130,024 Fines And Forfeits 789,600 959.047 169,447 903,864 Contributions 15,000 101,783 86,783 36,193 Interest 918.000 1.491,789 573.789 l ,108224 Miscellaneous Revenues 24,000 157,877 133.877 64,253 TOTAL REVENUES 40,362.774 42.243.418 1,880,644 40,600, 142 EXPENDITURES Current Genera! Government 9,468,064 8,979.435 488.629 8,513,589 Security Of Persons And Property 24250,184 23569,864 680,320 22,889,748 Physical Environment 1,947.827 1,878,956 68,871 l ,769,642 Economic Environment 3,882.905 3,485-129 397 ,776 3,346,564 Mental And Physical Hea!th 10,500 6,756 3,744 8,599 Culture And Recreation 12L630 176,966 (55,336) 25,370 Capito! Outlay 139.795 140.554 (759) 194,350 TOTAL EXPENDITURES 39,820,905 38,237,660 l .583,245 36.747,862 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 541.869 4,005.758 3,463.889 3.852.280 OTHER FINANCING SOURCES (USES) iJ Operating Transfers (Out) (5,500,000) (5,550,000) (50,000) (1,560,051) Sale Of General Fixed Assets 0 55,168 55,168 78,963 TOTAL OTHER FINA.'\IC!NG SOURCES (USES) (5,500,000) (5,494,832) 5,168 ( l ,481 ,088) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (4,958.131) (1,489.074) 3,469,057 2.31Ll92 FUND BALANCE JANUARY l 7.744,589 7.744,589 0 5.373,397 FUND BALANCE DECEMBER 31 s 2 78Q 42~ s Q2:2:2515 1469 Q57 s 7 744~2 66 SPECIAL REVENUE FUNDS DECEMBER 31, 2001 Special Revenue Funds account for the proceeds of specific revenue sources other than special assessments, expendable trust, or major capital projects. These revenues finance particular activities or functions as required by law or administrative regulations. The City of Renton's Special Revenue Funds are summarized below. Park Fund: Accounts for operation of the City's parks and recreation system, maintenance of municipal buildings and landscaping services for public facilities. Resources are primarily from general tax revenues and charges for services. Arterial Street Fund: Established in accordance with RCW 82.36.020 for the administration of the State levied motor vehicle 112 cent gasoline tax distributed to Renton. Expenditures are limited by law to capital improvements of City arterial streets. Street Fund: Established in accordance with RCW 35A.37.0l0 ta account for maintenance and improvement of the City's street and traffic control systems. Major sources of support are general tax revenues and the State levied tax on motor vehicle fuels distributed to Renton, to be used for City street purposes. Community Development Block Grant Fund: Established in 1992 to administer the Federally funded Community Development Block Grant activity per City Ordinance #4335. The program was reported in the General Fund in prior years. Librgrv Fund: Accounts for operation of the City's library system, including central and branch facilities. Resources to the fund are mainly general tax revenues and library fines. Hotel/Motel Tax Fund: Accounts for monies collected as a result of SSB 5867, which allows Washington State cities to impose an increase in the hotel/motel tax of up to l percent for the purpose of increasing tourism. The Renton City Council adopted the tax on December 15, 1997. Paths and Trails Reserve Fund: Created for the purpose of planning, accommodating, establishing and maintaining certain paths and trails. One-half of one-percent ( l /2 of l %) of the State levied motor vehicle fuel fax distributed to Renton, is allocated to this fund each year. One Percent for Art Fund: Established to account for required City's contribution equal to l % of general governmental capital project funding for art projects. Cable Communications Development Fund: Provision for promotion and development of cable communications according to City Ordinances #3155 and #3137. 67 ASSETS Cash ond Cash Eauivaients Investments at Fair Vaiue Recervables: Accounts interest on 1nvesrments Due From Other Funds Due From Other Governmental Units TOTAL ASSETS LIABILiTJES AND FUND EQUITY LIABIUT1ES· Vouchers/Contracts Payable Accrued T oxes Payable Deposits Payable Accrued Employee Leave Benefits 1ntertund Loons/ Advances Non-Current TOTAL UABILIT!ES FUND EQUITY" Fund Balance: Unreserved -Undesignated TOTAL FUND EQUITY TOTAL LiABiUT!ES AND FUND EQUITY SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECEMBER 31. 2001 '/VffH C01ViPARATIVE TOTALS FOR DECEMBER 31, (PAGE 1 OF 2) PARK s 3,361 174 s 0 24)44 44.446 0 0 $ 3 43Q 364 s $ 328,807 s 5.677 23.200 36,043 0 393.727 3,036,637 3,036.637 s 'l. 430 364 s 68 2000 CO~JlMUNiTY ARTERIAL STREET DEVELOPMENT STREET BLOCK GRANTS 154,594 $ 1,057,359 87,547 0 0 0 0 7,439 0 1,601 4,003 0 0 23,524 0 0 0 61,038 156195 s 1 092 325 148 S§K 0 s 78,830 17,384 0 291 0 0 0 0 0 23,926 0 0 0 75,000 0 103.047 92,384 156.195 989,278 56,201 156.195 989278 56201 156 199; s 1 092 325 s 148 5~~ SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECE~/1BER 31 , 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 2 OF 2) CABLE COtv'!PARATiVE TOTALS LIBr~ARY HOTEL! PATHS ONE PERCENT COfv1MUN!CATiONS & TRAILS FOR ART DEVELOPMENT 200: 2000 $ 195,031 s 269.262 2,1307 s 89287 s 183,188 $ 5,400,249 2,582,945 0 0 0 0 0 0 1 ,808,375 0 0 0 0 0 32,183 9.678 1.433 0 0 0 3.426 54,909 27,486 0 0 0 0 0 23,524 29-876 0 0 0 0 0 61,038 46,192 196 464 $ 269 262 s 2 07 s 89287 s 186614 s 5 571 903 s 4 504 5;;2 s 27.352 $ l,925 s 0 s 0 s 5,980 s 460,278 $ 434,001 1,037 0 0 0 0 7,005 7,473 0 0 0 0 0 23.200 18.430 8,430 0 0 0 0 68.399 71,383 0 0 0 0 0 75,000 75.000 36,819 1,925 0 0 5,980 603,882 606.287 159,645 267.337 2,807 89287 180,634 4,938.021 3.898265 '59,645 267,337 2,807 89287 180.634 4.938.021 3,898265 s 196 464 s 269 262 s 2 !207 $ §9287 s l/2Q614 $ 2 §71 2Q3 $ 4 ~rA 552 69 SPECIAL REVENUE FUNDS COMBJN!NG STATEMENT OF REVENUES. EXPENDffURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 2001 REVENUES Taxes Licenses And Permits ntergovernrr-.ental Revenues Charges For Services Fines And Forfeits Contributions Interest Miscelioneous Revenues TOTAL REVENUES EXPENDffURES Current: General Government Transportoti'on Economic Environment Culture and Recreation Capital Outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt Operating Transfers In Operating Transfers (Out) Sole 01' General Fixed Assets TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 2) PARK ARTERIAL STREET s 9,277,822 s 0 0 0 7.500 345,619 778,993 0 0 0 12.492 0 152)14 11fJJ7 502585 0 10,732.106 356.626 2,084,978 0 176,505 0 610,025 0 5.708.944 0 0 0 8,580,452 0 2,151,654 356,626 0 0 0 0 (800,000) (353,500) 0 0 (800,000) (353,500) 1,351.654 3,126 1,684-983 153,069 STREET 3,819.293 40,568 739,186 844,801 0 0 40.805 6.754 5,491.407 0 5,369,085 0 0 0 5,369.085 122-322 0 0 (450,000) 517 (449.483) (327,161) l,316.439 COMMUNlTY DEVELOPMENT BLOCK GRANTS 0 0 265,389 0 0 0 0 0 265,389 0 0 260,388 0 0 260,388 5,001 0 50,000 0 0 50,0ClO 55,001 1,200 FUND BALANCE JANUARY l FUND BALANCE DECEMBER 31 $ 3036637 s 156 195 $ 56 201 989 278 s ======="'=' 70 I LIBRARY $ 1,14 .872 $ 0 0 7.740 34,046 2,914 6.584 8 1.193,164 0 0 0 1,355,937 0 1,355.937 (162.773) 0 0 0 I 0 (162,773) 322,418 $ 1Q9~ s SPECIAL REVENUE FUNDS COMBINiNG STATEMENT OF REVENUES. EXPEND!TURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 2001 VVITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PA.GE 2 OF 2) ONE CABLE TOTALS HOTELi PATHS PERCENT COMMUNICATIONS MOTEL TAX & TRAiLS FOR ART DEVELOPIV\ENT 2001 162.460 0 s 0 s 30DOO 14,431 M7 s v 0 0 0 40,568 0 0 0 0 1.357.694 0 0 0 0 1.631,534 0 0 0 0 34,046 0 0 0 0 15,406 8,532 0 896 14.532 235,070 0 0 1,500 510,847 '70,992 0 46.032 18.256,612 0 0 0 0 2,084,978 0 0 0 0 5.545.590 119.746 0 0 0 990, 159 0 0 0 18,158 7.083.039 0 0 15.900 34.992 119,746 0 15.900 15.738.758 0 (15,004) 8,782 2.517.854 0 0 75,000 0 75,000 0 0 13,085 0 63.085 0 0 (13.200) 0 Cl.616,700) 0 0 0 517 0 74,885 0 (1.478,098) 51.246 0 59,881 8.782 1.039.756 216,091 2,807 29,406 171,852 3.898.265 267 ~~7 s 2 §07 $ 89287 $ l§Q 634 $ 4 938 021 $ 71 2000 12.816.716 61.558 l ,582234 l ,692,763 33.825 27,399 244.234 455,971 16.914,700 2.135.401 5, 118,420 982.021 6.577/J67 120.973 14,933,882 1.980,818 0 0 (1,003.500) 30,000 (973,500) 1.007,318 2,890.947 3 ~98 265 REVENUES Taxes Licenses And Permits :ntergovernmenral Revenues Charges For Services Fines And Forfeits Contributions lnterest Miscellaneous Revenues TOTAL REVENUES EXPEND!TURES Current General Government Transportation Economic Environment Culture and Recreation Capitol Outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Proceeds of Long-Term Debt Operating Transfers In Operating Transfers (Out) Sale Of General Fixed Assets TOTAL OTHER F!NANC!NG SOURCES (USES) EXCESS (DEFiCIENCV) OF REVENUES SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31. 2001 WITH COMPAi{AT!VE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 7) BUDGET ACTU/'1 7.621.895 9,277.822 0 0 0 7,500 612.800 776,803 0 0 0 12.492 35JJOO 91,85-6 458,500 481.829 8.728.195 10.648.302 2,190,867 2,085,311 185.225 176,505 616.966 610.211 5.849,912 5.710.447 0 0 8.842.970 8,582.474 (114,775) 2,065,828 0 0 0 0 (800,000) (800,000) 0 0 (800.000) (800,000) AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (914.775) 1.265.828 l ,693,070 1,693D70 PARK VARIANCE FAVORABLE 2000 <UNFAVORABLE> ACTUAL $ l ,655.927 $ 7.722,882 0 0 7.500 12,825 164,003 763,529 0 0 12,492 '9,393 56,856 97,944 23,329 465.934 l,920,107 9,082,507 105.556 2. 135.079 8,720 154,302 6.755 616,819 139.465 5221.745 0 2.497 260,496 8.130.442 2, 180,603 952,065 0 0 0 0 0 (550,000) 0 0 0 (550.000) 2, 180,603 402.065 0 1.291 .005 FUND BALANCE JANUARY 1 FUND BALANCE DECEMBER 31 $ 778 295 $ 2 958 898 s 2 180 603 $ ===1=6=9=1=0=7=0= 72 ' ii BUDGET s 0 s 0 338,400 0 0 0 6,000 0 344,400 0 0 0 0 0 0 344,400 0 ii 0 (353,500) 0 (353,500) (9, 1C-0) 153,069 $ 14J;9Q9 s SPECIAL REVENUE FUNDS COMB!NiNG STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCE. BUDGET AND ACTUAL YEAR ENDED DECEMBER 3L 2001 ARTERiAL STREET WITH COMPARfaJ!VE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 7) VAR!ANCE FAVORABLE 2000 STREET VARIANCE FAVORABLE 2000 ACTUAL <UNFAVORA.BU:> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL 0 s 0 s 0 s 3,521,019 0 0 0 20,000 345,619 7,219 337,3i7 718.000 0 0 0 945,490 0 0 0 0 0 0 0 0 7.780 1,780 15,578 90.000 0 0 0 25,000 353,39-9 8.999 352.895 5,319.509 0 0 0 0 0 0 0 5.668.651 0 0 0 0 0 0 0 0 0 0 0 0 0 5,668,661 353,399 8.999 352,895 (349,142) 0 0 0 0 0 0 0 0 (353,500) 0 (353.5C0) (450,000) 0 0 0 0 (353,500) 0 (350.500) (450.000) (10i) 8.999 (605) (799, 142) i53.069 0 153,674 1.299.139 l§;i9Q!;t $ 0999 s 153 QQ9 s 499 9?7 73 s 3,819,293 $ 39,610 739,186 851.153 0 0 36,670 6,754 5,492.666 0 5.367.859 0 0 0 5.367 ,859 124,807 0 0 (450,()00) 517 (449.483) (324.676) 1.299,139 974 4Q~ s 298,274 s 19,610 21.186 (94,3-37) 0 0 (53,330) (18,246) i73,l57 0 300.792 0 0 0 300.792 473,949 0 0 0 517 517 474.466 0 474 466 s 3,620.368 61.018 721.433 924.454 0 0 61.040 7.706 5.396,019 0 4.968,265 0 0 12,047 4.980.312 415)07 0 0 (100,000) 345)07 953.432 1'?,.991~9 SPECIAL REVEt'~UE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCL BUDGET AND ACTUAL YEAR ENDED DECEMBER 31 , 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 3 OF 7) COMMUN!TY DEVELOPMENT BLOCK GRANTS REVENUES Taxes Ucef'!Ses And Permits !ntergovornmentoi Revenues Charges For SeNices Fines And Forfeits Contributions Interest Miscellaneous Revenues TOTAL REVENUES EXPENDITURES Current: General Government Transportation Economic Environment Culture and Recreation Capital Outlay TOT Al EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) lnterfund Loon Proceeds Operating Transfers In Operating Transfers (Out) Sole Of General Fixed Assets TOTAL OTHER F!NANCiNG SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 FUND BALANCE DECEMBER 31 s 74 BUDGET ACTUAL 0 s 0 0 0 280.575 250,543 0 0 0 0 0 0 0 0 0 0 280,575 250,543 0 0 0 0 280,575 260,388 0 0 42,900 0 323,475 260,388 (42.900) (9,845) 0 0 50,000 50,000 0 0 0 0 50,000 50,000 7,100 40,155 (44991) (44,991) <37.8912 $ ===='=4=8=3"6") VARIANCE FAVORABLE 2000 <UNFAVORABLE> ACTUAL $ 0 s 0 0 0 (30,032) 346,679 0 0 0 0 0 0 0 0 0 0 (30,032) 346,619 0 0 0 0 20,187 274,084 0 0 42,900 72,000 63,087 346,084 33,055 595 0 0 0 0 0 0 0 0 0 0 33.055 595 0 (45,586) ,,~ 055 $ ===='44=9=9=1=) I BUDGET $ 1,14 ,872 $ 0 0 8,000 27.50Cl 1,0QO 7,500 0 ], 185,872 0 0 0 1.388.250 LOGO 1,389.250 (203,378) 0 i 0 0 0 0 (203,378) 33WOO s 128 622 $ LIBRARY SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 4 OF 7) VARIANCE FAVORABLE 2000 HOTEL/MOTEL TAX VAR:ANCE FAVORABLE 2000 ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL l,l4i,872 s 0 1.296.800 s 130,CDO s 162.460 $ 32,460 146/'65 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7,740 (260) 8.539 0 0 0 0 34,046 6.546 33,825 0 0 0 0 2,914 1,914 8,506 0 0 0 0 6.584 (916) 13.757 3,000 8,532 5,532 9,975 8 8 30 0 0 0 0 ',193,164 7,272 1.361,457 133,00J 170.992 37.992 156,640 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 170.352 119.746 50,606 90,901 l,357.485 30.765 1.330,267 0 0 0 0 0 lJ)OO rn26 0 0 0 0 ',357.485 31.765 l ,337,293 170.352 119,746 50,606 90,901 (164.321) 39.057 24,164 (37 ,352) 51,246 88.598 65,739 0 0 0 0 0 0 0 0 Q 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (164,321) 39.057 24,164 51.246 88,598 65}39 332.00J 0 307,836 216,091 216.091 0 150.352 1Q7 979 $ 332 IY'JJ s 178 739 $ 267 337 s 88 598 $ 216 091 ======== 75 SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 V/!TH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 5 OF 7) PATHS AND TRAILS VAR!ANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes Ucenses And Permits lntergovemmento! Revenues Charges For SeNices Fines And Forfeits Contributions Interest Miscellaneous Revenues TOTAL REVENUES EXPENDITURES Current· General Government Transportation Economic Environment Culture and Recreation Copitoi Outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) lntertund Loon Proceeds Operating Transfers in Operating Transfers (Out) Sole Of General Fixed Assets TOTAL OTHE.~ FINANCING SOURCES (USES) EXCESS (DEF!CIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANC!NG USES FUND BALANCE JANUARY 1 FUND BALANCE DECEMBER 31 $ 0 0 3.600 0 0 0 0 0 3.600 0 0 0 0 0 0 3,600 0 0 0 0 0 3,600 2.807 s 76 0 s 0 $ 0 0 0 0 0 (3,600) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (3h00) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (3,600) v 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (3.600) c 2.807 0 2,807 2 BQ7 $ (J 60-Q1 S ====<"n~ni= I BUDGET s 0 s 0 0 0 0 0 l,300 0 1,300 0 0 0 0 42.200 42200 (40,900) 0 ~ i3,100 ' 0 0 13,100 (27,800) 29.406 s l "'6 $ SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPEND!TURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 WlTH COMPARATIVE TOTALS FOR DECEMBER 31 2Cf'.JO (PAGE 6 OF 7) ONE PERCENT FOR ART CABLE COMMUNICATIONS DEVELOPMENT ACTUAL 0 s 0 0 0 0 0 896 0 896 0 0 0 0 15,900 15.900 (15,004) 75DOO 13,085 (l3,200) 0 74.885 59,881 29,406 89 287 $ VARIANCE FAVORABLE <UNFAVORABLE> 0 s 0 0 0 0 0 (404) 0 (404) 0 0 0 0 26.300 26.300 25,896 75,000 (15) (13200) 0 61,785 87.681 0 87 681 $ 2000 ACTUAL 0 0 0 0 0 0 l,576 0 1.576 0 0 0 0 0 0 L576 0 0 0 0 0 l,576 27,830 s 29406 $ 77 BUDGET ACTUAL 30.000 s 30,000 $ 0 0 0 0 0 0 0 0 0 0 5,500 7-427 1,500 1,500 37.000 38,927 0 0 0 0 0 0 30,500 l8,158 20,000 19,092 50,500 37250 (13.500) 1,677 0 0 0 0 0 0 0 0 0 0 (13,500) 1.677 170,537 \ 70,537 ]S7 037 $ 172214 $ VARIANCE FAVORABLE <UNFAVORABLE> 0 s 0 0 0 0 0 1,927 0 1.927 0 0 0 12,342 908 13.250 15,177 0 0 0 0 0 15,177 2000 ACTUAL 30,000 0 0 0 0 0 8.934 1,&JO 40.434 0 0 0 29,280 27.401 56,681 (16,247) 0 0 0 0 0 (16.247) 0 186,784 1s 177 s ===='=10,.,.,s3,.1= SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES !N FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 7 OF 7) TOTALS VARIANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes s 12,444,786 $ 14,431.447 $ l,986,661 $ 12,816,715 licenses And Permits 20,000 39 ,610 19,610 6),018 lntergovernrnenta! Revenues l ,340-575 1.342,848 2273 1,418,254 Charges For Services 1,566,290 l ,635,696 69A06 1,696,522 Fines And Forfeits 27,500 34,046 6,546 33,825 Contributions 1,000 15,406 14,406 27,899 Interest 148,300 159,745 11,445 208,804 Miscel!aneous Revenues 485,000 490,091 5,091 475, 170 TOTAL REVENUES 16.033,451 18,148,889 2,115,438 16,738.207 EXPENDITURES Current: General Government 2,190,867 2,085,311 105,556 2, 135,079 T ransportotion 5,853,876 5,544,364 309,512 5, 122,567 Economic Environment l ,067,893 990_345 77,548 981.804 Culture and Recreation 7,268,662 7.086,090 !82,572 6,581,292 Capita! Outlay 106.100 34,992 71,108 120,971 TOTAL EXPENDITURES 16.487 ,398 15,741,102 746296 14.941.713 EXCESS CDEF!CiENCY) OF REVENUES OVER EXPENDITURES (453,947) 2,407 ,787 2,861.734 1.796,494 OTHER FINANCING SOURCES (USE$) !ntertund Loon Proceeds 0 75,000 75,000 0 Operating Transfers In 63,100 63,085 (15) 0 Ii Operating Transfers (Out) (1,603,500) (L616,700l (13.200) (1,003,500) " Soie Of General Fixed Assets 0 517 517 30,000 TOTAL OTHER FINANCING SOURCES (USES) (1.540.400) (1,478.098) 62,302 (973,500) EXCESS CDEFIC!ENCY) OF REVENUES AND OTHER FiNANCiNG SOURCES OVER EXPENDJTURES AND OTHER FINANCING USES (1.994,347) 929,689 2.924,036 822,994 FUND BALANCE JANUARY 1 3,851.128 3.851,128 0 3.028,134 FUND BALANCE DECEMBER 3 l $ 18Q6781 s 4.7§0§17 $ 2 924 Q36 $ ~ 8!;21 12§ ' : L. 78 DEBT SERVICE FUNDS DECEMBER 31, 2001 Debt Service Funds account for the accumulation of resources for, and the payment of principal and interest for the City's general obligation long-term debt and special assessment debt. The City of Renton pledges its full faith and credit for payment of these obligations. Resources for redemption of Council-approved (limited) issues are from the general property tax levy. Revenue for voter-approved (unlimited) debt service obligations originates from a special property tax levy. Resources for the payment of the special assessment debt are from assessments levied against benefited properties. The outstanding amount is recorded in the General Long Term Debt Account Group. 1997 Limited General Obligation Bond Redemption Fund: Accounts for debt service on a Council-approved bond issue, which provided funding for the purchase of the new Renton City Hall in May 1997. 197B Limited General Obligation Bond Redemption Fund: Accounts for debt service on a Council-approved bond issue, which provided partial funding for construction of the Renton Senior Activity Center. 1989 Limited General Obligation Refunding Bond Redemption Fund: Accounts for debt service on a Council-approved refunding bond issue, which refunded the 1983 limited refunding bond issue. 1983 Unlimited General Obljgation Refunding Bond Redemption Fund: Accounts for debt service on an unlimited refunding bond issue, which refunded the 1980 and 1982 voter-approved bond issues. Bond proceeds financed the development of Gene Coulon Memorial Beach Park. General Government Miscellaneous Debt Service Fund: Accounts for debt service on installment contracts for equipment, City Shop land purchase, the 1984 and 1985 Limited General Obligation Bond issues for equipment and the 1986 Limited Bond issued to finance a community center, library improvements, permanent financing for purchase of a golf course, acquisition of wetlands property and equipment. 1989 Unlimited General Obligation Bond Redemption Fund: Accounts for debt service on a voter-approved bond issue, which provided financing to acquire, construct, rehabilitate, equip and develop low income housing for the elderly. Special Assessment Debt Fund: This fund accounts for the special assessment collections and debt service payments for all local improvement districts located within the City. Special Assessment Guaranty Fund: This fund was established in accordance with State law for the purpose of guaranteeing the payment of outstanding Special Assessment Bonds and coupons. 79 DEBT SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER3L 2001 VJ!TH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 1 OF 2) 1989 LIMITED 1983 UNUMITED 1997 LIMITED 1978 UM!TED GO REFUNDING GO REFUNDING GO BONDS GO BONDS BONDS BONDS ASSETS· Cash ano Cash Equivalents s 13,314 s 23.465 s 52,941 5C7,392 Cash With Fisca! Agent 0 0 100,000 0 investments at Fair Value 0 0 0 0 Receivables Taxes 0 0 0 0 Special Assessments -Current 0 0 0 0 Special Assessments ~ Delinquent 0 0 0 0 Special Assessments -Deferred 0 0 0 0 interest -Special Assessments 0 0 0 0 interest on investments 0 0 0 7h05 Due From Other Funds 0 0 0 0 TOTAL ASSETS $ 13 14 s 234Q5 $ 152941 $ § 14 227 UABIUTIES AND FUND EQUITY: LIAB!UTIES Vouchers/Contracts Payable 0 $ 0 s 0 $ 0 Matured Interest Payable 0 0 100,00:J 0 Deterred Revenues 0 0 0 TOTAL UABILIT!ES 0 0 100.000 FUND EQUITY: Fund Balance Reserved for Debt SeNice 13.314 23,465 52,941 514.997 TOTAL FUND EQUITY 13,314 23,465 52,941 514.997 TOTAL UAB!UTIES AND FUND EQUITY 13 314 s 2~4Q5 s 152 941 514 997 80 DEBT SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER31.200l W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 2) GENERAL SPECIAL SPECIAL COMPARATIVE TOTALS GOVERNMENT 1989 UNLIM!TED /\SSESSMENT ASSESSfv'lENT MISC DEBT GO BO~~DS DEBT GUARANTY 2001 2000 s 564,305 549.206 s 608.083 s 156.561 s 2.475,267 s 2.240,329 12,000 10.000 170,000 0 292,000 391,000 0 0 0 0 0 250,391 0 18.093 0 0 18.093 30,884 0 0 0 0 0 682 0 0 658 0 658 22.323 0 0 697,169 0 697.169 1,008,560 0 0 385 0 385 7.156 0 0 4.859 4,859 17.323 5,810 52.332 164 0 0 52.496 127,321 s 628 637 s 577 463 s 1 481 154 s 161 429 3 553 391 s 4 084 456 s 0 0 $ 0 $ 0 $ 0 s 517 12,900 J0,000 170,000 0 292,000 391,000 0 18.093 697.169 0 715,262 1,039.444 12,000 28,093 867.169 0 1,007.262 1,430.961 616,637 549,370 613.985 161,420 2,546.129 2,653,495 616,637 549,370 613,985 161.420 2.546.129 2,653,495 s 628 637 s 577 463 s 1 481 1'14 s 161420 $ 3 553 391 s 4 084 456 ======= 8i DEBT SERVICE FUNDS COMBINING STAfEJ'~ENT OF REVENUES, EXPENDITURES, AND CHANGES JN FUND BALA~-.JCES YEAR ENDED DECEMBER 31, 2001 REVENUES Taxes Special Assessments Interest TOTAL REVENUES EXPENDITURES Debt Service: PrinciPal Retirement Interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPEND!TURES OTHER FINANCING SOURCES CUSES) Proceeds Of Long-T errn Debt Operating Transfers In Operating Transfers (Out) Funds Remitted to Bond Trustee TOTAL OTHER F!NANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 Residuai Equity Transfers Out FUND BALANCE DECEMBER 31 l/Vi1H COMPARAT!VE TOTALS FOR DECEMBER 31. 2000 (PAGE 1 OF 2) 1997 UMiTED 1978 LIMITED GO BONDS GO BONDS 735,766 s 500 G 0 362 3764 736,127 4,264 310,000 0 642.137 3 952,137 3 (216,010) 4261 14,029,950 0 0 0 0 (160,000) (13.809.431) 0 220,519 (160.000) 4,509 (155,739) 8,805 179,204 0 0 $ 13114 $ 234Q5 82 1989 L!MiTED GO REFUNDING BONDS 305.425 0 6,143 311,568 275.000 30,041 305,041 6,527 0 0 0 0 0 6,527 46,414 0 $ s;;; 941 1983 UNUMITED GO REFUNDING BONDS $ 0 0 32.516 32-516 130,000 12,540 142,540 (110,024) 0 0 0 0 0 (110.024) 625.021 0 t $ §14 997 ij . ii DEBT SERVICE FUNDS COMBINING STATE1v1ENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 3l ,200i WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 2) GENERAL GOVERN~"1ENT SPEC!AL SPEC!AL TOTALS MiSCELLANEOUS 1989 UNL!iv11TED ASSESSMENT ASSESSMENT DEBT GO BONDS DEBT GUARANTY 200' s 1,323J82 s 523,030 0 s 0 $ 2,888,502 0 0 303,939 0 303,939 27,237 10.403 108.077 13,013 201,515 L35L019 533.433 412.016 13,013 3,393.956 856A47 330.000 185,000 0 2,0$6,447 122254 174,705 21,364 0 1,003.044 978,701 504,705 206,364 0 3.089,49i 372,318 28.728 205,652 13,013 304.465 0 0 0 0 14,029,950 77.650 0 0 0 77.650 (550,000) 0 0 0 (710,000) 0 0 0 0 (13 ,809 ,431) (472,350) 0 0 0 (411,83i) (100.032) 28.728 205,652 13.013 (107.366) 716,669 520,642 408.333 148,407 2,653,495 0 0 0 Q 0 s Q1QQ37 549 37Q s Q119!.22 $ 161 4"0 s 2 l.)4Q 1,9 83 2000 3]26,976 377 ,858 218,200 4.323.034 2.481,025 1,205281 3.686.306 636,728 0 77.650 (92.898) 0 (i5248) 621,480 2.987.015 (955.000) 2 QQ149:2 DEBT SERVICE FUNDS COMB!N!NG STATEtv1ENT OF REVENUES, EXPENDiTURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31. 2001 \l/JTH COMPARAJIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 6) l 997 L!MITED GENERAL OBLIGAT!ON BOND VARIANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes $ 735.765 $ 735.765 $ 0 s 735,000 Special Assessments 0 0 0 0 Interest 0 362 362 236 TOTAL REVENUES 735,765 736.127 362 735,236 EXPENDITURES Debt SeNiCe: Principal Retirement 0 310,000 (310,000) 0 interest & Fiscal Charges 735,765 422.411 313,354 737,042 TOTAL EXPENDITURES 735,765 732.411 3.354 737.042 EXCESS (DEFICIENCY) OF-REVENUES OVER EXPENDITURES 0 3,716 3,) 16 (1,806) OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt 0 793 793 0 Operating Transfers in 0 0 0 0 Operating Transfers (Out) 0 0 0 0 TOTAL OTHER FINANCING SOURCES (USES) 0 793 793 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 0 4,509 4,509 (1,806) FUND BALANCE JANUARY l 8.805 8,805 0 10,61 l Residual Equity Transfers (Out) 0 0 0 0 FUND BALANCE DECEMBER 31 $ 8805 s 1~~14 s 4 §Q9 s 8!1Q2 84 L BUDGET s 500 0 500 0 500 500 0 0 (160,000) (160,000) (160J)00) ii 179.204 0 s 19 2Q4 DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES !N FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 VJITH COMPARAT!VE TOTALS FOR DECEMBER 31. 2000 (PAGE 2 OF 6) 1978 LIMITED GENERAl OBUGATION BOND 1989 UMfTED GENERAL OBUGATION REFUNDlNG BOND s ACTUAL 500 $ 0 3.764 4,264 0 3 3 4.261 0 0 (l60.000) (160.000) (155,739) 179,204 0 2~ 4Q," $ VARIANCE FAVORABLE <UNFAVORABLE> 0 0 3.764 3,764 0 497 497 4.261 0 0 0 0 4,261 0 0 42 ' s 2000 ACTUA.L 0 0 1 L149 11,149 0 9 9 11,140 0 0 0 0 11,140 203,064 (35.00IJ) 179 2QS 85 BUDGET 305.425 0 0 305,425 275.000 30,425 305.425 0 0 0 0 0 0 46.414 0 s 46414 VARIANCE FAVORABLE 2000 ACTUAL <UNFAVORABLE> ACTUAL $ 305,425 $ 0 s 297,000 0 0 0 6.143 6.1£13 3,185 311,568 6.143 300,185 275,000 0 250,000 30,040 385 56.453 305.040 385 306.453 6,528 6.528 (6,268) 0 0 0 0 0 0 0 0 0 0 0 0 6,528 6,528 (6268) 46,414 0 52h82 0 0 0 $ 52 942 s {.)528 s 46414 DEBT SERVICE FUNDS COMB!N!NG STATEMENT OF REVENUES, EXPENDITURES, AND CHAi\JGES IN FUND BALAl'.JCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000 (PAGE 3 OF 6) 1983 UNLIMITED GENERAL OBLIGATION REFUND!NG BOND REVENUES Taxes Special Assessments Interest TOTAL REVENUES EXPENDITURES Debt Service: Principal Retirement Interest & Fisco! Charges TOTAL EXPENDITURES EXCESS (DEFICiENCY) OF REVENUES OVER EXPENDITURES OTHER FINA"IC!NG SOURCES (USES) Proceeds Of Long-Term Debt Operating Transfers ln Operating Transfers (Out) TOTAL OTHER FINANC!NG SOURCES CUSES) EXCESS (DEF1C1ENCY) OF REVENUES AND OTHER FiNANClNG SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 Residua! Equity Transfers (Out) FUND BALANCE DECEMBER 31 s BUDGET 135,440 0 7,500 142,940 130,000 12,940 142.940 0 0 0 0 0 0 624,794 0 ~£:4 794 86 ACTUAL $ 0 0 17,415 17,415 130,000 12540 142.540 (125.125) 0 0 0 0 (125,125) 624.794 0 s 499 {2£9 VARIANCE FAVORABLE 2000 <UNFAVORABLE> ACTUAL s (135.440) 765,547 0 0 9.915 24,212 (125,525) 789.759 0 730,000 400 37,806 400 767 ,806 (i25,125) 21,953 0 0 0 0 0 0 0 0 (125.125) 21,953 0 602,841 0 0 s ~12~ 1252 s 624 794 I s -:. I $ DEBT SERVICE FUNDS COMBINING STATErv'IENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 VVITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 4 OF 6) GENERAL GOVERNMENT MiSCELLANEOUS DEBT 1989 UNLIMITED GENERAL OBLIGATION BOND VARIANCE VARIANCE FAVORABLE 2000 FAVORABLE BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> 850,000 1,398,393 548,393 s l ,382.501 $ 500.585 s 523,017 $ 22,432 $ 0 0 0 0 0 0 0 20,000 27,237 7 237 28.730 5.000 10.403 5.403 870.000 1,.125,630 2'55.630 l,41 L231 505,585 533.420 27,835 856,448 856.447 826,026 330,000 330,000 0 128,063 122254 5.809 138,011 175,585 174,705 880 984,511 978.701 5.810 964,037 505,585 504.705 880 (114,511) 446,929 561.MO 447,194 0 28,715 28.715 0 0 0 0 0 0 0 77.650 77,650 0 77.650 0 0 0 (550,000) (550,000) D 0 0 0 0 (472,350) (472,350) 0 77.650 0 0 0 (586,861) (25.421) 561.440 524,844 0 28,715 28,715 589 ,726 589 ,726 0 884.882 520,491 520,491 0 0 0 0 (820,000) 0 0 0 2 §95 $ 564 305 $ 561 :11.Q s Q~9 726 $ 220 491 549 206 $ 28 71§ s 87 2000 ACTUAL 510,365 0 15,609 525.974 315.000 191,216 506216 19.758 0 0 0 0 19,758 if'JJ.733 0 2,Q 491 DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31_ 2001 WITH COMPARAT!VE TOTALS FOR DECEMBER 31 2000 (PAGE 5 OF 6) SPECIAL ASSESSMENT DEBT SERVICE FUND RE: VENUES Taxes Special Assessments interest TOTAL REVENUES EXPENDITURES DebtSeNiCe Principal Retirement Interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF-REVENUES OVER EXPENDITURES OTHER FINANC!NG SOURCES (USES) Proceeds Of Long~Term Debt Operating Transfers !n Operating Transfers (Out) TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANC!NG SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 Residual Equrty Transfers (Out) FUND BALANCE DECEMBER 31 s s 88 BUDGET 0 s 309,657 66,411 376.068 195,000 35,995 230,995 145,073 0 0 0 0 -45.073 374.719 0 519792 s VARIANCE FAVORABLE ACTUAL <UNFAVORABLE> 0 s 0 333,056 23,399 101,677 35,266 434.733 58,665 185,000 10,000 21,364 14,63 l 206,364 24.631 228.369 83296 0 0 0 0 0 0 0 0 228.369 83296 374,719 0 0 0 &\;P 08~ s 83 29Q 2000 ACTUAL 0 352,648 120,287 472,935 360,000 44,744 404,744 68,191 0 0 (92.898) (92,898) (24,707) 399,426 I 0 374 719 BUDGET s 0 s 0 0 0 0 0 0 0 0 0 0 0 I 145,659 0 $ 145 QQ9 $ DEBT SERVICE FUNDS COMB!N!NG STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECElv1BER 31, 2001 WITH COMPARATiVE TOTALS FOR DECEMBER 31, 2000 (PAGE 60F 6) SPECiAL ASSESSMENT GUARANTY FUND V.A,RIANCE FAVORABLE 2000 TOTALS ACTUA: <UNFAVORABLE> ACTUAL BUDGET ACTUAL VARIANCE FAVORABLE <UNFJ..VORABLE> 0 s 0 s 0 s 0 0 0 5.907 5,907 8,624 5.907 5,907 8,624 0 0 0 0 0 0 0 0 0 5,907 5.907 8,624 0 0 0 0 0 0 0 0 0 0 0 0 5.907 5.907 8,624 145,659 0 237,035 0 0 (100,000) 151 566 $ 907 $ 145 659 s 89 2,527,715 $ 309,657 98,911 2,936283 1.786,448 Ll 19273 2.905.721 30,562 0 77.650 (710,000) (632,350) (601,788) 2.489.812 0 1 eaa 024 $ 2,963,lCD S 333D56 172.908 3,469.064 2,086.447 783,317 2.869.764 599,300 793 77,650 (710,000) C63L557) (32,257) 2.489,812 0 2 457 2§~ $ 435,385 $ 23,399 73,997 532,781 (299.999) 335,956 35,957 568,738 793 0 0 793 569.531 0 0 569 231 2000 ACTUAL 3,690,413 352.648 212,032 4.255.093 2,481,026 1,205.281 3,686,307 568)86 0 77,650 (92.898) (15,248) 553,538 2,89L274 (955.000) '4~9§12 THIS PAGE INTENTIONALLY LEFT BLANK ' ; 90 CAPITAL PROJECT FUNDS DECEMBER 31, 2001 capital Project Funds account for the acquisition or development of major capital focilities, 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. Downtown Parking Garqge: Accounts for resources and expenditures related to the construction of a downtown parking facility. Limited Tax General Obligation Bonds were issued in 2001 to finance a portion of the construction costs. Community Development Impact Mitigation Fund: Accounts for monies collected from developers to offset impacts created by their developments to City facilities. Fire Impact Mitigation Fund: Accounts for monies collected from developers to offset impacts created by their developments to City facilities. Transportation Impact Mitigation Fund: Accounts for monies collected from developers to offset impacts created by their developments to City facilities. Leased City Properties Fund: Accounts for revenue and expenditures related to City property leased to outside entities. Municipal Facilities Construction Fund: Accounts for the acquisition and development of municipal facilities. Resources included general and special revenue taxes and Council-approved general obligation bonds. General Government Capital Improvement Fund: Accounts for revenues and expenditures for numerous capital improvement projects, to provide infrastructure necessary for controlled growth and to address general City needs. Primary resources include general tax revenues, business license fees, Federal and State grants, general obligation bond proceeds and transfers from various cumulative reserve funds. 91 CAPff Al PROJECT FUNDS COMB!NING BALANCE SHEET DECEtViBER 3 L 2001 W1TH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 1 OF2) OOVVNTOVV~~ COMMUNITY Fi RE TRAN SP PARKING DEV IMPACT IMPACT IMPACT GARAGE MiT!GATIOi;J fvl!T!GAT!ON tv'liTJGATION ASSETS Cash and Cash Equivalents 9,717,828 s 1203,705 s 1.028,580 4,17 ; .012 Investments ot Fair Value 0 0 0 0 Receivables· Accounts 0 0 0 0 Interest on investments 32,022 8.006 28.942 40B50 Due From Other Funds 0 0 0 0 Due From Other Governmental Units 0 0 0 0 :nterfund Loons/ Advances -Non-Current 0 D 0 0 TOT Al ASSETS s 9 749 ~50 s -i 211 711 s 1 Q27 222 s 421l 8Q2 LIAB!UTIES AND FUND EQUITY· LIABIUT!ES: Vouchers/Contracts Payable $ 207, 89 0 $ 10.213 0 Retainage Payable 0 0 0 c Due To Other Funds 0 0 0 0 Accrued Taxes Payable 0 0 0 0 interfund Loans/Advances Non-Current 0 0 0 0 TOTAL liABILIT!ES 207,189 0 10.213 0 FUND EQUITY: Fund Balance: Reserved for lnterfund loons/ Advances 0 0 0 0 Unreserved Undesignoted 9,542.661 l.21L7 1 .047.309 4.2 l,862 TOTAL FUND EQUITY 9,542.661 1,211J 1 ,047.309 4.2 1,862 TOTAL liABlliTtES AND FUND EQU11Y s 9 749 85Q s 1 211 7 1 s Q57 522 $ 42 1 862 92 CAPITAL PROjECT FUNDS COMBINiNG BALANCE SHEET DECEMBER 31, 2001 \ViTH COMPARATIVE TOTALS FOR DECEMBER 31 _ 2000 (PAGE 2 OF 2) LEASED MUNICiPAL COMPARATIVE TOTALS CITY FACILITIES CAP1TAL PROPERTIES CONSTRUCTION IMPROVEMENT 2001 2000 s 305,477 $ 6,978, 159 $ 6,350,632 29,755,393 s 6.831 .752 0 0 0 0 15,635,737 31,821 0 0 31,821 880 0 51,943 0 161,76-3 142,537 0 52,332 0 52,332 126,943 0 8.600 1.482,481 1,491,081 L960S21 0 920,000 0 920,000 L 180JJOO $ 137 298 $ 8011 034 7833113 $ 32412390 25 878 770 s 2.762 s 341.613 s 517,630 s 1,079,407 $ 754,394 4,315 40,643 253,993 298.951 313,594 0 0 22,147 22.147 32,945 36.633 1.571 0 38204 27,096 920,000 0 0 920,000 1.180,000 963.710 383.827 793.770 2,358,709 2,308,029 0 920,000 0 920,000 0 (626,412) 6,707.207 7,039.343 29.133,681 23,570.741 (626,412) 7.627207 7.039,343 30,053,681 23,570,741 $ 337 298 $ 8011034 7§3~113 s 3;;_ 412 39Q $ 25 87§ 77Q 93 CAPITAL PROjECT FUNDS COMBINING STATEfV\ENT OF REVENUES, EXPENDITURES, AND CHANGES !N FUND BALANCES VEAR ENDED DECEMBEf< 31. 2001 VJITH COMPARAT!VE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF 2) DO'fJNTOWN COMMUN!TY FIRE TRANSP PARK!NG DEV !MPACT IMPACT IMPACT GARAGE MlTIGATION M!TIGAT!ON MIT!GATtON REVENUES Taxes 0 s 0 s 0 s 0 licenses And Permits 0 0 0 0 intergovernmenta: Revenues 0 0 0 0 Charges For Services 0 362,343 405.850 365,038 lnterfund Revenues 0 0 0 0 Contributions 0 0 0 0 interest -30,950 50.463 109,507 259.477 Misce!ianeous Revenues 0 0 0 0 TOTAL REVENUES 130,950 412,806 515,357 624,515 EXPENDITURES Current; General Government 0 0 0 0 Transportar1on 0 0 0 0 Economic Environment 0 0 0 0 Capitol Outlay 436,549 4,238 1,955.189 0 Debt Service: lnteres1 & Fiscal Charges 99,431 0 0 0 TOTAL EXPENDITURES 535,980 4,238 1.955,189 0 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (405,030) 408,568 ( 1,439.832) 624,515 OTHER FINANCING SOURCES (USES) Proceeds Of Long~Term Debt 5,947.691 0 0 0 Operating Transfers Jn 4,000,00Cl 0 0 0 Operating Transfers (Out) 0 0 0 (941,509) Sole Of General Fixed Assets 0 0 0 0 II TOTAL OTHER F!NANCING SOURCES (USES) 9,947.691 0 0 (941,509) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPEND!TURES AND OTHER F!NANCING USES 9,542,661 408.568 (l ,439,832) (316,994) FUND BALANCE JANUARY 1 0 803,143 2,487.141 4,528,856 Residual Equity Transfers In 0 0 0 0 FUND BALANCE DECEMBER 31 s 9"A2 :2.Q1 $ 1 211 71' s 1 047 ~Q9 s 4 211 8~;:? 94 s I s CAPff AL PROJECT FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31. 2001 LEASED cnv PROPERTIES 0 s 0 0 1,415 0 0 9,090 593,161 603,666 128.716 0 0 6.545 103.800 239.061 364,605 0 0 0 0 0 364,605 (991,017) 0 £6;26 4121 s WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 2) MUNICIPAL TOTALS FACIUTIES CAPiTAL CONSTRUCTION !M;::iROVEMENT 2001 1. ,323.782 $ 0 $ 1.323.782 $ 0 1.967,436 1.967.436 7.385 2.459,357 2.466.742 920 345,963 1,481,529 103,800 0 l 03,800 74h88 0 74,688 351.528 (252.283) 658)32 7.550 10.000 l ,869,653 4,530.473 0 0 128,716 0 8,330,168 8.330,168 9,052 0 9.052 2,798,098 0 5.200,619 0 0 203.231 2,807,150 8,330,168 13,871,786 (937.497) (3.799,695) (5, 184.366) 0 0 5,947.691 1.273.200 1 ,437,009 6,710,209 (42.000) (13,085) (996,594) 6.000 0 6,000 1.237200 1.423,924 11,667,306 299,703 (2,375.771) 6.482,940 7.327.504 9.415,114 23,570.741 0 0 0 7 Q~7 'Q7 s 7 039 343 s ~Q Q§~ 681 $ 95 ?000 l ,496,583 1,927,599 3,l6L453 2,022,850 0 0 l,193.311 191,852 9.993.648 209,870 5.202.299 8,871 7,131.451 (2,561,843) 0 3,569,911 (1.006.360) 931,442 3.494.993 933, 150 21,682.591 955,000 23 570 741 CAPITAL P.ROJECTS FUNDS COM8!N!NG STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES iN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 VJITH COMPARATIVE TOTALS FOR DECEMBEi< 3 l, 2000 (PAGE 1OF6) DOV'/NTOWN PARKING GARAGE REVENUES Taxes licenses And Permits intergovernmental Revenues Charges For Services Contributions Interest Misce!loneous Revenues TOTAL REVENUES EXPENDiTURES Current: General Government T ronsportotion Economic Environment Capitol Outlay Debt Service: Interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FiNANCING SOURCES (USES) Proceeds Of Long-Term Debt interfund Loon Proceeds interfund Loan Repoyrnents Operating Transfers !n Operating Transfers (Out) Soie Of General Fixed Assets TOTAL OTHER FINANCING SOU,1<CES (USES) EXCESS (DEF!CiENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY 1 Residual Equity Transfers In FUND BALANCE DECEMBER 3 l BUDGET 0 s 0 0 0 0 0 0 0 0 0 0 4,000.000 0 4,000,000 (4.000,000) 0 0 0 4,000,000 0 0 4,000,000 0 0 0 s 0 s 96 VARIANCE FAVORABLE ACTUP.1 <UNFAVORABLE> 0 s 0 0 0 0 0 0 0 0 0 66.408 66,408 0 0 66.408 66.408 0 s 0 0 0 0 436,549 3,563,451 99,431 (99.431) 535,980 3.464,020 (469,572) 3,530A28 5,947,691 5,947,691 0 0 0 0 4,000,000 0 0 0 0 0 9,947.691 5,947.691 9,478, 119 9.478,119 0 0 0 0 9 47~ 7 9 9.478 119 2000 ACTUAL 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 I 0 0 0 0 0 0 0 0 $ 0 ' t s i $ CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 W:TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 6) CO~AMUNiTY DEVELOPMENT !MPACT M!TIGATiON FiRE liv1PACT MITIGAT!ON VARIANCE FAVORABLE 2000 BUDGET ACTUAL <UNFAVORABLE> ACTUAL 0 s u 0 s 0 0 0 0 0 0 0 0 0 175,000 362,343 187,343 367,547 0 0 0 0 25,000 35.881 10.881 27.563 0 0 0 0 200,000 398,224 198224 395.110 0 0 0 0 0 0 0 0 0 0 0 0 550.000 4.238 545]62 22.416 0 0 0 0 550.000 4,238 545,762 22.416 (350.000) 393,986 743.986 372.694 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (350,000) 393,986 743,986 372.694 801,589 801.589 0 428,895 0 0 0 0 4;'21, ~~9 s 1 19557;: s 743 986 s 8Q1 ~9 s s 97 BUDGET 0 0 0 300,000 0 100,000 0 400,0-00 0 0 0 2,154,000 0 2, 154.000 (l .754,000) 0 0 0 0 0 0 0 (1.754.000) 2.471,291 0 717 s VAR!ANCE FAVORABLE ACTUAL <UNFAVORABLE> 0 0 0 0 0 0 405,849 105,849 0 0 66]47 (33.253) 0 0 472.596 72,596 0 0 0 0 0 0 l,955,189 198,811 0 0 1,955, 189 198.811 (1,482,593) 271.407 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (l ,482.593) 271,407 2,471291 0 0 0 98~ Q98 s 27 J 407 2000 ACTUAL s 0 0 0 805.358 0 155,099 0 960.457 0 0 0 1,436,825 0 1,436,825 (476,368) 0 0 0 0 0 0 0 (476,368) 2,947,659 0 s "'471 291 CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES. EXPENDITURES. AND CHANGES !N FUND BALANCE. BUDGET AND ACTUAL YEAR ENDED DECEMBER 31. 2001 V.JITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 3 OF6) TRANSPORTATJON JMPACT M!TIGATIC}N REVENUES Taxes licenses And Permits Intergovernmental Revenues Charges For SeNices Contributions Interest MiScellaneous Revenues TOTAL REVENUES EXPENDITURES Current: Genera! Government Transportation Economic Environment Capitol Outlay Debt Service· interest & Fiscal Charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt interfund Loon Proceeds lnterfund Loon Repayments Operating Transfers In Operating Transfers (Out) Saie Of General Fixed Assets TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE JANUARY l Residual Equity Transfers In FUND BALANCE DECEMBER .31 BUDGET $ 0 0 0 500,000 0 100.000 0 600.000 0 0 0 0 0 0 600.000 0 0 0 0 .891,627) 0 ( 1 .891,627) ( l .291 .627) 4.470.570 0 s 'l.!78943 98 VARIANCE FAVORABLE ACTUAL <UNFAVORABLE> s 0 s 0 $ 0 0 0 0 365,038 (134,962) 0 0 235,118 135,118 0 0 600,156 106 0 0 0 0 0 0 0 0 0 0 0 0 600, 156 156 0 0 0 0 0 0 0 0 (941.509) 950,118 0 0 (941.509) 950,118 (341,353) 950274 4.470,570 0 0 0 s 4 ]-')9217 $ 950 274 $ 2000 ACTUAL 0 0 0 775.180 0 27iA91 0 1.046.671 0 0 0 0 0 0 1.046,671 0 0 0 0 (1.006,360) 0 (1 ,006,360) 40,311 4,430.259 0 4 470570 Ii I L BUDGET $ 0 s 0 427,100 180.000 0 0 480.000 0 660.00"° (232,900) 0 ii 300.000 . (247.100) 0 0 0 52.900 (180,000) 188,173 0 s 8 17" s CAPITAL PROJECTS FUNDS COMBiNiNG STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 \NITH COMPARATVE TOTALS FOR DECEMBER 31 2000 (PAGE 4 OF 6) LEASED CITY PROPERTIES MUN!CIPAL FACIUTIES CONSTRUCTION VARiANCE VAR!ANCE FAVORABLE 2000 FAVORABLE ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> 0 s 0 s 52,500 s 1250,000 s 1,398,393 s 148,3-93 0 0 0 0 0 0 0 0 0 0 16,021 16,021 1,415 1.415 0 0 920 920 0 0 0 0 74,688 74,688 9,089 9,089 16,675 200,000 346246 146246 566,056 138,956 188,042 0 7.550 7550 576,560 149.460 257,217 1.450.000 1.843.818 393,818 128,716 51,284 209,870 0 0 0 0 0 0 0 0 0 0 0 0 50.000 9.052 40,948 6.546 473,454 617,005 9,166,585 2,781,733 6.384.852 0 0 0 0 0 0 135.262 524.738 826,875 9.216,585 2.790,785 6,425.800 441298 674.198 (569 ,658) (7,766,585) (946,967) 6.819.618 0 0 0 0 0 0 0 (300.000) 700.000 247,100 363.800 116,700 (363.800) (116.700) (123.000) 0 0 0 0 0 0 1,260,000 1.273.200 13.200 0 0 0 0 (42.000) {42,000) 0 0 100 350.000 6.000 (344.00-0) (363.800) (416,700) 577.100 1,857,100 1,601.()JO (256.100) 77.498 7,442 (5,909,485) 654,033 6.563.518 188,173 0 180)3i 5,888.905 5,888,905 0 0 0 0 0 0 0 ;\;Q§Q71 $ Z27 49a $ ia~ \70 $ {2Q ~Qi $ Q~9J8 $ 656~ ~l§ 99 2000 ACTUAL s 1,407-100 0 515.053 0 0 308.090 0 2,230243 0 0 8.871 5.059.270 0 5,068.141 (2.837.898) 0 123.000 (700,000) 2.110.051 0 931,343 2,464,394 (373.504) 5,307.409 955,000 s Q~~2Q~ CAPITAL PROjECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES iN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 WlfH COMPARATIVE TOTALS FOR DECEl'v!BEi< 31 2000 (PAGE 5 OF 6) CAPITAL IMPROVEMENTS REVENUES Taxes Licenses And Permits intergovernmental Revenues Charges For SeNices Contributions interest Misc el!oneous Revenues TOTAL REVENUES EXPEND !TURES Current General Governmenr Transportation Economic Environment Cop ital Outlay Debt Service: Interest & Fiscal Charges TOT AL EXPENDITURES EXCESS (OEF!CiENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Proceeds Of Long-Term Debt lnterfund Loan Proceeds lnterfund Loon ,'~epoyments Operating Transfers !n Operating Transfers (Out) Sole Of General Fixed Assets TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFIC1ENCY) OF REVENUES AND OTHER FINANC!NG SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCE jANUARY l Residual Equity Transfers In FUND BALANCE DECEMBER 31 s 100 BUDGET 0 $ 2,000,000 2,409241 0 0 0 0 4.409.241 0 12,990.063 0 0 0 12.990,063 (8.580,822) 0 0 0 l,445.127 0 0 1.445. 127 (7, 135.695) 7.225,573 0 89878 $ VARIANCE FAVORABLE ACTUAL <UNFAVORABLE> 0 s 0 1,967,436 (32,564) 2,870,684 461.443 380,967 380.967 0 0 0 0 10,000 10,000 5,229.087 819.846 0 0 8J40,965 4,649,098 0 0 0 0 0 0 8,340,965 4.649.098 (3. 111,878) 5,468.944 0 0 0 0 0 0 1,437,009 (8,118) (13,085) (13,085) 0 0 l .423.924 (21.203) (J,687,954) 5,447,741 7,225,573 0 0 0 5227:219 $ 2447.741 2000 ACTUAl s 0 1,927 ,599 2.936,753 30,778 0 0 0 4.895.130 0 5,207.795 0 0 0 5207.795 (312,665) 0 0 ii 0 1.506]97 0 363,282 l,870.079 1.557,414 5,66$,159 0 s 7 22:: ~!3 $ i s CAPiTAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES \N FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2001 WITH CO~vlP,ARATiVE TOTALS FOR DECEMBER 3 , 2000 (PAGE 60F 6) TOTALS VARIANCE FAVORABLE BUDGET ACTUAL <JNFAVORABLE> 1250.000 $ 1,398,393 i48,393 2,000.000 J ,967.436 (32,564) 2,409,241 2.886,705 477.464 975.000 l.516.532 541,532 0 74,688 74,688 425,000 759,489 334,489 427,100 583.606 156,506 7,486.341 9,186,849 1,700,508 180,000 128,716 51284 i2,990.063 8,340,965 4.649.098 50,000 9,052 40,948 16,350,585 5,184.255 11.166,330 0 99.43 l (99,431) 29,570.648 13,762,419 15,808229 (22,084,307) (4,575.570) 17 ,508,737 0 5,947,691 5,947,691 547,100 363,800 (183,300) (247,100) (363,800) (116,700) 6,705,127 6)10,209 5,082 (1.891,627) (996,594) 895,033 350,000 6.000 (344,000) 5,463,500 11.667.306 6203,806 (16.620.807) 7,091 .736 23,712.543 21,046,101 21,046,101 0 0 0 0 4 42§ 294 s 2~ 137 a~7 s 2~.71~ ~~3 s lOi 2000 ACTUAL l ,459,600 1,927,599 3,451,806 1.978.863 0 778,918 188,042 9.784,828 209,870 5.207 ,795 8,871 7,135,516 0 12,562,052 (2,777.224) 0 823,000 (823.000) 3,616,848 (l ,006,360) 1.294,725 3.905213 1.127.989 18,963, 112 955,000 z1049101 THIS PAGE INTENTIONALLY LEFT BLANK 102 ENTERPRISE FUNDS DECEMBER 31, 2001 Enterprise funds are established for government activities that are financed and operate in a manner similar to private business. Costs of providing services to the general public are primarily financed by users fees. Waterworks Utility Fund: Accounts for the operation and capital improvement programs for the water, wastewater (sewer) and surface water (storm drainage services) within the City. Activities which are primarily supported by user fees include: administration, billings and collections, debt service, engineering and operation, maintenance and repairs. The primary resources for the capital improvement programs are revenue bond proceeds, grants as available and utility collection charges. Airport Fund: Provides accounting for revenues and expenses which provide administration, debt service, operation, capital improvements and maintenance of the Renton Municipal Airport and Will Rogers-Wily Post Memorial Seaplane Base. Sources of support to the fund are leases, fuel charges, investment interest and grant funding as available. Solid Waste Utility Fund: Solid waste, recycling and yard waste collection services for the City are accounted in this fund, supported entirely by service fees. Expenses include payment to the City's garbage contractor and other service charges. 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. 103 ENTERPRISE FUNDS COMBINING BALANCE SHEET DECEMBER31.2001 \/VlTH COMPARATIVE TOTALS F-OR DECEMBER 31, 2000 (PAGE 1OF2) WATERWORKS AIRPORT SOUD VJASTE UTILITY JT!UTV ASSETS: Current Assets: Cash and Cash Equivo!ents $ 2,017.438 $ 3,360,738 411 .454 Investments at Fair Voiue 0 0 0 Receivables· Accounts 3,798,581 143,949 641.785 interest on investments 4,276 39,116 2,566 Notes Receivable Current 0 0 0 Due From Other Funds 0 0 0 Due Frorn Other Governmental Units 309205 599,210 40,757 Inventory of Material and Supplies 272.493 0 0 Total Current Assets 6,401,993 4,143,013 1,096,562 Restricted Assets: Deposits 25.439 0 0 Revenue Bond Debt SeNice 4,232,670 0 0 Construction Account 0 0 0 Total Restricted Assets 4,258,109 0 0 Nore Receivable~ Non-Current 0 0 0 Property. Plant and Equipment Fixed Assets (Net) 152,040.666 4,488,593 51.410 Construction !n Progress 4,030.837 909,760 0 Total Property, Plant and Equipment 156,071.503 5,398,353 51,410 Deferred Charges and Other Assets 32,000 0 0 TOTAL ASSETS s 16:2 7~QQ5 s 9541 366 s 1 147 972 LIABILITIES AND FUND EQUITY: LiAB!LITiES: Current Liabilities: Vouchers/Contracts Payable s 611,920 s 346,161 s 208,537 Retoinage Payable 301,755 5,989 0 I Due To Other Funds 4,409 4,346 0 Due To Other Governmental Units 504,807 0 0 Accrued interest Payable 220.138 0 1,098 Accrued Wages Poyabie 24.897 LWl 227 Accrued Employee Benefits Payable 2.345 129 21 Accrued Taxes Payab1e 56.069 37,331 32,008 Deferred Revenues 92,330 59,916 0 Capita: Leases Payable -Current 0 0 0 Tota! Current Liabilities 1,818,670 455235 241,891 Llabiiities Payable from Restricted Assets: Deposits Payable 25,439 0 0 Revenue Bonds Payable -Current Portion L805,000 0 0 Total Liabilities Payable from Restricted Assets UlJ0,439 0 0 Long Term liabilities· Revenue Bonds Payabie 16,935,000 0 0 Unamortized Discounts on Revenue Bond (783,463) 0 0 Accrued Employee Leave Benefits 333.957 36.363 2.281 Capitol Leases Payable 0 0 0 Public Works Trust F-und Loon Payable 7 389,550 0 J Total Long Term Uabilihes 23,875D44 36,363 2281 TOTAL UABlL!TiES 27,524.153 491,598 244.172 FUND EQUITY· [ Contributed Capital 1·2,116,546 2,529.753 166,166 £_-, Retained Earnings· Reserved 8, l82J6) 0 0 Unreserved 18,940.145 6.520,015 737.63-4 TOTAL FUND EQUiTY 139 ,239 .452 9,049.768 903,800 TOTAL UABIUTIES AND FUND EQUITY $ 166 76'< 605 s 9 541 366 s 1 147 972 ,, 104 ENTERPRISE FUNDS COMBiNiNG BALANCE SHEET DECEMBER 31, 2001 VVITH COMPARAT:VE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 2) COMPARATIVE TOTALS GOLF COURSE 2001 2000 $ L019,460 6.809,090 s 6.330546 0 0 4,080,313 83.240 4,667,555 4,048,519 4.276 50,234 85,100 21,041 21,041 23,472 0 0 87 0 949, 172 416.394 85.807 358,300 389.063 1.213,824 12,855,392 15.373,494 0 25,439 32,329 441,358 4,674.028 4.991,315 0 0 1.260,390 441.358 4,699,467 6.284.034 0 0 21,041 8.875.290 165,455,959 154,448,185 28.787 4.969.384 5,119,753 r 8.904.077 170,425,343 159,567,938 62.464 94,464 48,000 t,, s 10 621 723 s 188074 ~Q s 1a1 294 so7 $ 18,790 s 1.185.408 s l.283.900 I 510 308,254 85.256 0 8,755 1,904 0 504,807 706, 124 17,546 238,782 260,553 3,254 29.741 27,370 306 2,801 3.372 3S86 129,394 102.817 0 152246 171.515 38.418 38,418 40,954 82,810 2.598,606 2.683.765 74,859 100.298 160,569 225,iY'J) 2.030.000 ] ,950.000 299,859 2,130298 2.110,569 4.105.000 21,040,000 23,070,000 (454,687) (1,238.150) (1,412,476) 34,552 407,153 387.037 7.238 7.238 45.656 0 7,389,550 8.009.825 3,692,103 27.605.791 30,100,042 4,074.772 32,334,695 34,894,376 1,412,225 116,224.690 108,362,378 441,358 8.624,119 10,922.088 4,693,368 30,891.162 27.115.665 6.546,951 155.739,971 146.400.131 s 10 621 723 $ 1/1~Q74~ 't.P ~94 ~Q7 105 ENTERPRISE FUNDS COMBiN!NG S1ATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY FOR THE VEAR ENDED DECEMBER 31. 2001 VJ!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1OF2) VJATERWORKS SOLID 1..-VASTE UTILITY AIRPORT UTlLITY OPERATING REVENUES: Charges for Services $ 20.495,611 s 841.730 8.409,534 Other Operating Revenue : .203.480 14,0iG 4,838 TOTAL OPERATING REVENUE 21,699.091 855,740 8.414,372 OPERATING EXPENSES: Operations Or!d Maintenance 12.463,725 471,211 7 ,692,256 Administrative and Genera 1,853,671 148,875 0 Insurance 0 18.000 Q Taxes J ,734.324 0 l ,078,777 Depreciation 3.66L458 18L268 25.931 TOTAL OPERATING EXPENSES 19.713.178 819,354 8.796,964 OPERATING INCOME (LOSS) 1,985.913 36,386 (382,592) NON~OPERATiNG REVENUE (EXPENSE) Interest Revenue 295,154 209.575 28,507 Gain (Loss) on Sole of Assets 0 198 0 Other Non-operating Revenue 88.573 0 40)57 Interest Expense (1,093.550) 0 0 Amortization of Debt Oisco0nt and Expense (77,166) 0 0 NON-OPERATING REVENUE NET OF EXPENSES (786.989) 2fYl.773 69,264 INCOME CLOSS) BEFORE OPERATING TRANSFERS 1,198.924 246.159 (313,328) Operating Transfers In (Out) (77,650) 0 0 NET INCOME (LOSS) 1.121,274 246, 159 (313,328) Depreciation Reducing Grant Contributed Capitol 0 167.010 0 I INCREASE (DECREASE) IN RETA1NED EARNINGS l.121,274 413,169 (313,328) RETAINED EARNINGS, JANUAR\' l 26,001,632 6.106,846 LOSD.962 RETAINED EARN!NGS, DECEMBER 31 27, 122.906 6.520,015 737,634 CONTR!BUTED CAPITAL JANUARY 1 104,721,467 2,062,520 166.166 Capitol Grants 0 634.243 0 AmortiZotion on Capitol Grants 0 (167,010) 0 Other Contribuied Capitol 7,395,079 0 0 CONTRIBUTED CAPITAL, DECENBER 31 112.116.546 2,529.753 166.166 FUND EQUITY, DECEMBER 31 s ]~9 239 42, s 9 Q49 7Q8 $ 2.Q3 800 106 ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES. AND CHANGES IN FUND EQUITY FOR THE YEAR ENDED DECEMBER 31. 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 2 OF 2) TOTALS GOLF COURSE 2001 2000 2, 122,363 s 31,869,238 s 32.486,175 192.633 1,414,961 1.617,301 2.314,996 33,284,199 34,105.476 1.466.738 22.093.930 21.041,065 0 2JJ02,546 1,946,945 0 18.000 70,000 13.286 2.826.387 2.930.181 379.653 4248,310 1.859,677 31.189,173 2.095,026 61.001 594237 928,049 1200 1,398 0 0 129.330 194,780 (26"i'107) (1,354,657) (l.482.023) 0 (77,166) (8(),472) (198.906) (706B58) (439,666) 256.413 1.388, 168 3.887.342 D 15248 256,413 3.902,590 tA 0 167.010 171.356 256.413 1.477.528 4.073.946 4.878,313 38,037,753 5.134.726 39,515281 1.412.225 108.362,378 102,017,808 0 634.243 128.087 0 (167,010) (171,356) 0 6.387.839 1.412.225 108.362.378 s Q~Q9;21 s 15" 739 971 $ 1464nQ 1~1 107 ENTERPRISE FUNDS COMBINING STATEMENT OF C1\SH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE l OF 4) SOLID VVASTE \fJATERWORKS AIPPORT UTIUTY CASH FLOWS FROM OPERATING ACT!VIT!ES Cash Received From Customers s 19.636,504 $ 738,505 s 8,396,547 Cash Rece1'ved From Other Funds for Services 399,652 0 0 Cash Paid to Suppliers for Goods and Services (8,988,506) (30,040) (7,927.809) Cash Paid to Other Funds tor Goods and Services (2,966221) (57,187) (277.004) Cash Paid to Employees (2,961,087) (206.236) (136,003) Cash Paid for City Utility Taxes (1,205,021) 0 (486.291) Other Operating Receipts 1.203,480 14,010 4.838 Other Non~Operating Receipts 88,573 0 72,515 NET CASH PROVIDED (USED) BY OPERATING ACTIV!TIES 5.207,374 459,052 (353,207) CASH FLOWS FROM NONCAP\TAL F!NAl'JCiNG ACTIV!TIES: Operating Transfers From Other Funds 0 0 0 Operating Transfers To Other Funds (77 ,650) 0 0 NET CASH PROV!DED (USED) BY NONCAPITAL FINANCING ACTIVITIES (77.650) 0 0 CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES· Proceeds From So!e of Equipment 0 0 0 Acquisition and Construction of Copitai Assets (1.1,035.783) (856,667) 0 Capirai Contributions 7 ,395,079 0 0 Capitol Grants 0 53,030 0 Principal Payments on Bonds (1.730,000) 0 0 interest Payments on Bonds (Ll 14,588) 0 0 Payments on State Long~Term Loons (821,592~ 0 0 NET CASH PROVIDED (USED) BY CAPITAL F!NANC!NG ACTIV!TIES (10,306,884~ (803.637) 0 CASH FLOWS FROM !NVESTING ACTIVITIES Proceeds From Sale of investments 1,903,876 2,389.930 252,609 Payments for Investments (34.293) (776.793) (2,450) I Interest on investments 342-134 202.092 26,119 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 2.211.717 1,815.229 276,278 NET INCREASE (DECREASE) IN CASH AMD CASH EQUIVALENTS (2.966.4432 1 A70.644 (76,929) CASH AND CASH EQUIVALENTS, JANUARY 1 9,240,990 1,890,094 488,383 CASH AND CASH EQUIVALENTS, DECEMBER 31 s '12Z~ 2'17 $ 1"'QQ7~~ s 4114~ CASH AT THE END OF THE YEAR CONSISTS OF Cash and Cash Equivalents s 2,017 .438 s 3,360.738 s 41 L454 Cash Restricted for: Deposits 25,439 0 0 Revenue Bond Debt Service 4232,670 0 0 Construction Account 0 0 0 TOTAL CASH AT THE END OF THE YEAR s h 2zs 2:a1 s < "'QQ 7'3~ s 411 :1~4 108 ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2001 WiTH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 2 0F4) TOTALS GOLF COURSE 2001 2C"CJO s 2.009,614 s 30.781<170 s 31.009,998 D 2.99,652 '107,33.0 ('189,883) (17.436238) (16.419,322) (235-472) {3,535,884) (3.658.490) (746,875) (4,050.201) (3,852,116) 0 (L69i,312) (l,788,619) 192,633 1.414,961 1,617,301 0 161.088 248,593 730.017 6,043236 7,564,675 0 0 92.898 0 (77 ,650) (77 .650) 0 (77 ,650) 15248 24,672 24,672 21,674 (207 ,079) (15,099,529) (11.134,828) 0 7.395,079 6,387,&39 0 53,030 110,090 (260,954) (l ,990,954) (1,795.666) (227 ,144) (\,341.732) (l.510,382) 0 (821,592) (445D48) (670,505) (j 1.781.026) (8.366.321) 351,333 4,897.748 3,150,000 IA (3,898) (817.434) (1,749,579) 58.758 629,103 902.956 406,193 4,709.417 2,303,377 465.705 (l, 106.023) 1.516,979 995,113 12.614,580 11.097,601 s 1 460 818 s 11508f'57 s J?6i4f80 $ L019,460 s 6,809,090 s 6,330,546 0 25.439 32,329 441.358 4,674,028 4,991,315 0 0 1.260,390 s 1-460 ~l~ $ ]1 &~~::27 $ 12Q14::2~1'\ 109 ENTERPRISE FUNDS COMB!N!NG STATEMENT OF CASH F-LO\JIJS FOR THE YEAR ENDED DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 3 OF 4) RECONCiUATiON OF OPERATING INCOME (LOSS) TO NET CASH PROV!DED (USED) BY OPERATING ACTiViT!ES Operating income (loss) Adjustments to Reconcile Operating income (loss) ro Net Casn Provided (Used) By Operating Activities Depreciation and Amortization of Deferred Charge Other Non-Operating Revenue (Increase) Decrease in Accounts Receivable (Increase) Decrease in Due From Other Funds/Governmental (Increase) Decrease in Inventory/Prepaid items increase (Decrease) in Vouchers/Retainage Payable Increase (Decrease) in Due to Other Funds/Governmental Increase (Decrease) in Payables/Other Short Term Liabilities increase (Decrease) in Customer Deposits increase (Decrease) in Deferred i~evenues increase (Decrease) in Accrued Employee leave Benefits T otol Adjustments WATERWORKS 1,985.913 3,677.458 88,573 (420,020) 16.764 13,182 (165,991) 2,505 13,388 (6,890) (30,243) 32,735 3221.461 5207?74 NET CASH PROVIDED (USED) BY OPERATING ACTIVinES $ ==="""'~= SCHEDULE OF-NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES Fixed Assets Contributed By Developers Change in Fair Value of investments TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIV!TiES no $ 5,969,070 4,345 5973415 AIRPORT s 36,386 181.268 0 (133254) 0 0 339.122 4,346 18,933 0 10,974 1.277 422.666 $ 459052 $ 0 39,930 ~99JQ s s $ SOLID WASTE UTILITV (382,592) 25,931 40.757 (11.124) 3L758 0 (57,743) 0 176 0 0 (370) 29,385 r3~3 2072 0 2,607 ,7 s s s fNTERPRi_Sf FUNDS COMBINING STATEMENT OF CASH FLOVJS FOR THE YEAR ENDED DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE4 OF 4) GOLF COURSE 455,319 379.653 0 (54,638) 0 17,58 l 3.\29 0 (4.120) (53,381) 0 (13,526) 274,698 730017 0 4.345 4J42 s s TOTALS 2001 2000 2,095.026 s 4,327,008 4264,3\D 3.856277 129,330 194)80 (619,036) (910,768) 48,522 469.101 30,763 269299 118,517 (410.964) 6,851 (43)87) 28,377 (2,352) (60271) 19284 (19,269) (194J86) 20.116 (8.8'1 7) 3,948210 3237,667 6 043 230 $ 7 564 671=, 5,969,070 s 4,558,340 51,227 98,207 Q Q'Q 'J,97 s 4 6SQ i;!47 111 THIS PAGE INTENTIONALLY LEFT BLANK 112 INTERNAL SERVICE FUNDS DECEMBER 31, 2001 Internal service funds are used to account for the financing of goods and seNices provided by one department or agency to other departments or agencies of the City. Equipment Rental Fund: Accounts for the costs of maintaining and replacing all City vehicles and auxiliary equipment except for fire apparatus and replacement of police patrol vehicles. All equipment costs, including depreciation, are factors in calculating the rates which are charged to each user department. Insurance Fund: Provides accounting for self-insurance services to all City departments, including provision for losses on property, liability, worker's compensation, unemployment compensation and a health care program. Expenses are paid by the Insurance Fund and rates are charged to departments based on use and/or coverage requirements. 113 INTERNAL SERVJCE FUNDS COMB!NING BALANCE SHEET DECEMBER 31, 2001 WITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000 (PAGE i OF 1) COMPARATIVE TOTALS EQUIPMENT RENTAL INSU.[(ANCE 2001 2000 ASSETS Current Assets Cash ond Cash Equivalents 3,156,183 s 4,669.342 s 7,825,525 $ 2298,953 Investments at Fair Value 0 l,991,800 1,991,800 4,987, 199 Receivables Accounts 1,755 1,853 3,608 7,785 Interest on investments 20,103 94,844 114,947 242, 153 Due From Other Governrrentol Units 0 0 0 876 inventory of Material and Suppiies 105,140 0 105,140 101,480 Prepaid lterr-iS 0 3,000 3,000 3,000 Toto! Current Assets 3283.181 6)60,839 10,044,020 7.641A46 Property, P!ont and Equipment· Fixed Assets (Net) 4,757,594 56.532 4,814,126 4,895,670 Total Property. Piant and Equipment 4}57.594 56,532 4,814,126 4.895.670 TOTAL ASSETS $ 8 040 772 $ Q817371 s 14 858 14Q $ 1~53711Q UABiLIT!ES AND FUND EQUITY UABiLITIES Current Liabilities: Vouchers/Contracts Payable s 44,819 s 43,656 $ 88.475 $ 145,498 Accrued Wages Payable 2,596 197 2}93 2.452 Accrued Employee Benefits Payable 245 19 264 302 Accrued Taxes Poyabie 56 0 56 361 Deposits Payobie 0 58.316 58,316 3,462 Total Current Liabilities 47,716 102,188 149,904 152,075 Long Term liabilities· Accrued Employee Leave Benefits 31,632 7.466 39,098 33213 C!airns Incurred But Not Reported 0 1.509,544 1,509,544 1,761,964 Total Long Term liabilities 31,632 1.517.010 1,548.642 1,795, 177 TOTAL LIABIUTIES 79.348 -.619.198 1.698,546 1,947252 Ii FUND EQUITY· Contributed Capitol 2.282,377 0 2282,377 2.282,377 Retained Earnings Unreserved 5,679,050 5,198.173 0,877,223 8,307,487 TOTAL Ft.;ND EQUITY 7 ,961.427 5,198.173 3,159,600 10.589.864 TOTAL UABiLITIES AND FUND EQUITY s 8 Q!.iQ 775 $ Q817~71 $ 4 85~ 146 12 5'<7 116 114 INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY FOR THE YEAR ENDED DECEMBER 31, 2001 W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1OF1) TOTALS EQUIPMENT RENTAL INSURANCE 2001 2000 OPERATING REVENUES Charges for SeNices s 3,073,831 6)76291 s 9,850,122 9.360243 Taxes 0 0 0 75.000 TOTAL OPERATING REVENUE 3.073,831 6,776.291 9.850,122 9.435243 OPERATING EXPENSES· Operations and Mainterronce 1,268.484 118,078 l,386,562 1,299.704 Berrefit Payments 0 6,050,784 6,050)84 4.464,119 Professional SeNices 0 402,684 402.684 349,043 Administrative and General 317.121 178.051 495,172 477,592 insurance 0 426.931 426.931 398,964 Depreciation 976.426 18.644 995,070 834,121 TOTAL OPERATING EXPENSES 2.562,031 7.195,172 9)57.203 7 ,823,543 OPERATING INCOME (LOSS) 511.800 (418.881) 92.919 1,611,700 NON-OPERATING REVENUE (EXPENSE) interest Revenue (2,804) 340,577 337,773 572,095 Gain (Loss) on Sale of Assets (43.671) 0 (43,671) 142,782 Other Non~operoting Revenue (Expense) 0 82,715 82,715 (31,596) NON-OPERATING REVENUE NET OF EXPENSES (46,475) 423.29'2 376,817 683.281 INCOME (LOSS) BEFORE OPERATING TRANSFERS 465,325 4,411 469.736 2.294S81 Operating Transfers In (Out) 0 2, 100.000 2.100,000 0 NET INCOME CLOSS) 465,325 2.104,411 2.569,736 2294,981 RETAINED EARNINGS, JANUARY 1 5,213,725 3.093,762 8.307,487 6D12,506 I RETAINED EARNINGS, DECEMBER 31 5.679,050 5,198-173 l0,877,223 8,307.487 CONTRIBUTED CAPITAL JANUARY 1 2.282.377 0 2.282.377 2.282.377 CONTRIBUTED CAPITAL DECEMBER 31 2.282,377 0 2282,377 2.282,377 FUND EQUITY, DECEMBER 31 s 7 961 427 s 519817~ s ]'l 1596QO s JQ 589 8Q4 115 INTERNAL SERVICE FUNDS COMBiNING STATEMENT OF CASH FLOWS FOR THE YEAR-ENDED DECEMBER Jl, 2001 WllH COMPARAT!VE TOTALS FOR DECEMBER 31, 2000 (PAC7E l OF l) CASH FLOlfJS FROiv\ OPERATING ACTIVITiES Cosh Received From Other funds for Goods and Services s Cash Paid to Suppliers tor Goods and Services Cash Paid to Other Funds for Goods and Services Cash Paid to Employees Other Operoring Receipts Other Non-Operating Receipts NET CASH PROVIDED (USED) BY OPERATING ACT!V!TIES CASH FLO\.VS FROM NONCAPITAL FlNANCING ACTll/IT!ES NET CASH PROV!DED (USED) BY NONCAPITAL FINANCING ACTIVITIES CASH FLOWS FROM CAPITAL FINANCING ACTIV!TIES Proceeds From Sole of Equipment Acquisition and Consrruction of Capitol As.."E!ts NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES CASH FLOWS FROM INVESTING ACTiVlTIES Proceeds From Sale of Investments Payments for Investments Interest on Investments NET CASH PROVIDED (USED) BY iNVESTlNG ACTIVIT!ES NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, JANUARY 1 CASH AND CASH EQUIVALENTS. DECEMBER 31 s CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivoients s TOTAL CASH AT THE END OF THE YEAR s RECONCIUATiON OF OPERATING INCOME (LOSS) 10 NET CASH PROVIDED (USED) BY OPERATING ACTiViTIES: Operating income (Loss) Adjustments to Reconcile Operating Income (loss) to Net Cash Provided (Used) By Operating Activities Depreciation Other Non-Operating Revenue (increase) Decrease in Accounts Receivabie (Increase) Decrease in Due From Other tunds/Governmentof (Increase) Decrease in Inventory /Prepaid !terns increase (Decrease) in Vouchers Payable Increase (Decrease) in Payables/Other Short Term Liabilities Increase (Decrease) in Customer Deposits Increase (Decrease) in Accrued Emp!oyee Leave Benefits Increase (Decrease) in Cloirr,s Incurred But \lot Reported Total Ad;ustments NET CASH PROVIDED (USED) BY OPERATING ACTIVF!ES s SCHEDULE OF NONCASH CAPITAL ANO RELATED F!NANC!NG ACTiVITJES- Change !n Fair Voiue of investments s TOTAL NONCASH CAP!TAL AND RELATED FiNANCiNG ACTIVITIES s 116 EQUIPMENT RENT Al 3,079,556 (903,680) (299,287) (422.018) 0 876 1,455,447 0 (43.671) (913,526) (957,197) 897.597 0 137,905 1.035-502 1.533.752 l ,622,431 J 1212 )~~ 3,156,183 3156183 511,800 976,426 0 6,030 876 (3,660) (40,125) (89) 0 4,189 0 943,647 l 422 447 20,533 2Q§~:< INSURANCE 6_829,292 0.156.768) (186.510) (100.785) 0 82.7i5 (532,056) 2,100.000 0 0 0 8, 162,678 (6,064,876) 327,074 2,424,876 3,992,820 676,522 4 AQ.9 ;242 s 4,669.342 s 4 669 342 s (418,881) 18,644 82,715 (1,853) 0 0 (16,898) 87 54,854 1,696 C252A20) (] 13, 175) \5~2 Q26i s 77,400 s 77 4QQ TOTALS 2001 2000 s 9.908.848 s 9,343,520 (8,060,448) (6.624.439) (485.797) (481,900) (522.803) (511.772) 0 75,000 83,591 (726) 923,391 1,799,683 2,100.000 0 (43.671) 142,782 (913.526) (990,710) (957' 197) (847 ,928) 9.060275 1,250,000 (6,064.876) (1,940.021) 464,979 462.744 E' 3,460.378 (227,277) '' 5,526.572 724,478 2,298,953 1,574,475 s 7122~ ~22 2 2912 2~~ ' $ 7,825,525 s 2,298,953 s 7 8?5 52'1 s 2 298 253 ii s 92,919 s 1 ,611,700 995,070 834,121 82.715 (31.596) 4,177 (2,133) 876 50,870 (3,660) (17.971) (57 ,023) (175,001) (2) (864) 54,854 (34,684) 5,885 (11,809) (252,420'\ (422,950) 830,472 187,983 92~-19' 1 791 ~~ ;: ~- s 97,933 339,517 s 27 92" s 1~9~1z FIDUCIARY FUNDS DECEMBER 31, 2001 Fiduciary Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governmental units and/or other funds. These funds are classified as Pension Trust, Expendable Trust and Agency Funds. PENSION TRUST FUNDS Firemen's Pension Fund: Accounts for the payment of administrative costs and benefits for retired fire fighters (and beneficiaries) who were employed prior to March l, 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. Payroll Clearing Fund: Established to account for various payroll liabilities. 117 ASSETS· Cosh and Cash Equivalents investments at Fair Value Receivables Interest on investments TOTAL ASSETS UAB!UT!ES AND FUND EQUiTY: UABiLITlES: Vouc.hers/Controcts Payable Accrued Empioyee Benefits Poyobie Deposits Payable TOT AL UAB!UTlES FUND EQUiTY Furid Balance· Reserved for Employees' Pension Benefits TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY F!DUCIARY FUNDS COMBINING BALANCE SHEET DECEMBER 31. 2001 VJITH COMPARATIVE TOTALS FOR DECEMBER 31 2000 (PAGE 1 OF 1) PENSION TRUST AGENCY FUNDS FIREMEN'S SPECIAL PAYROLL PENSION DEPOSIT CLEARING 91 L183 s 434,991 s 33 6,174.008 0 0 1,135.261 0 0 8 220 452 s 434 991 s 33 0 s 0 $ 0 0 0 33 0 434,991 0 0 434,991 33 8.220.452 0 0 8.220Aa2 0 0 s ~ 220 452 $ 434 991 s '3 118 COMPARATIVE TOTALS 2001 2000 1,346.207 s 1,104,016 6,174.008 6277,071 1.135.261 978.734 s 8 655 476 s 8_359 821 s 0 $ 1,500 33 144 434,991 311,957 435.0?4 313,601 8,220.452 8,046,220 8.220,452 8,046.220 s 12 Q~~ 476 $ 8 ;259 §2i COMBINING STATE~JIENT OF CHANGES IN ASSETS AND LIABIUTIES ALL AGENCY FUNDS YEAR ENDED DECEMBER 31. 2001 (PAGE l OF l) BALANCE BALANCE 1 /1 /01 ADDIT!ONS DEDUCTIONS 12/31/01 SPECIAL DEPOSIT FUND ASSETS Cash and Cash Equivalents s 313.457 s 561,515 s 439.981 $ 434,991 TOTAL ASSETS s 313457 $ 56: §1~ 439 981 434 9-'./1 UABiLlT\ES Vouchers Poyab!e 1,500 s 373,468 s 374,968 s 0 Deposits Payable 31 L957 561.515 438.48' 434,991 TOTAL LJABIUTIES 313 457 $ 9~4 983 $ 81~;149 $ 434 221 PAYROLL CLEARING FUND ASSETS Cash and Cash Equivalents $ 1.:14 $ 0 $ 177 -33 TOTAL ASSETS $ 144 $ 0 $ 17 s -3 LIABILITIES Accrued Employee Benefits Payable $ 144 s 0 $ 177 $ -33 TOTAL UAB\UTl,ES s 144 s s 177 $ ~3"- TOTAL· ALL AGENCY FUNDS ASSETS Cash and Cash Equivalents $ 313,601 $ 56L515 $ 440, 158 434,958 TOTAL ASSETS s ~1)601 s 5Q1 51§ $ 440 1§~ $ 434 95~ UABIUTIES Vouchers Payable $ LSOO $ 373,468 $ 374,968 s 0 Deposits Payable 31i .957 561,515 438,481 434,991 Accrued Employee Benefits Payable 144 0 177 -33 TOT AL LIABILITIES s .1J3601 s 934 983 $ 813 626 $ 434 958 Ii 119 ASSETS Cash and Cash Equivalents investments Receivables ·nterest on Investments TOTAL ASSETS FUND BALANCE FiRElv1EN-s PENSION TRUST FUND STATEfv'lENT OF PLAN NET ASSETS ASOFDECEMBER31,2001 AND2000 (PAGE 1 OF 1) s $ Reserved for Employees' Pension Benefits TOTAL FUND BALANCE 120 2001 2000 91 L183 s 790,415 6,174,008 6277,071 1,135261 978,734 8 22Q 422 $ 8 046 220 8,220.452 $ 8,046,220 822Q 45~ $ 8.04Q ~20 ADD!TIONS Others Contnbut1ons Fire Insurance Premiums Investment lncorr,e interest Revenue TOTAL ADD!TiONS DEDUCTIONS Benefit Payments Adminisrrat:ve and Genera: TOTAL DEDUCTIONS NET INCREASE (DECREAvSE) FIREMEN'S PENS!ON TRUST FUND STATEMENT OF CHANGES IN PLAN NET ASSETS FOR THE YEARS ENDED DECEMBER 31 2001 AND 2000 (PAGE 1 OF 1) s 2001 50,703 s 459,697 510,400 323. 128 13.040 336.168 174232 FUND BALANCE RESERVED FOR EMPLOYEES' PENSION BENEF!TS: FUND BALANCE JANUARY 1 8D46220 FUND BALANCE DECEMBER 31 s ===s ... 22,.0.,4.,s.,2= 121 2000 44,582 1.427,200 1 471,782 313,035 6-434 319,469 Ll52.313 6.893,907 8 046 220 THIS PAGE INTENTIONALLY LEFT BLANK 122 GENERAL FIXED ASSETS ACCOUNT GROUP DECEMBER 31, 2001 The General Fixed Assets Account Group is self-balancing and accounts for all the fixed assets of the City other than those recorded in the enterprise and internal service funds: or infrastructure assets which are considered public property. Infrastructure includes items such as roads, bridges. curbs and gutters. streets and sidewalks, drainage systems and street lighting systems. 123 ASSETS: :nvestrnent in Joint Venture Fixed Assets (Net) Construction !n Progress TOTAL ASSETS OTHER CRED!TS: GENERAL FIXED ASSETS ACCOUNT GROUP COMPARATIVE BALANCE SHEET DECEMBER 31. 2001 \IV!TH COMPPJ<ATiVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 OF l) 2001 s 4.087 .259 125,475.631 4.699243 s 134262.133 investments in General F1xe d Assets s 134,262,133 TOTAL OTHER CREDITS s l~4 262 1~3 124 2000 s 2,546,163 120,956220 3,207,433 s 1267Q9§;16 s 126,709,816 s 1~6 7Q9 816 SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE DECEMBER 31, 2001 GENERAL FIXED ASSETS Lone Buildings improvements OTher Than Buildings Machinery and Equipment Construction Work in Progress Joint Venture TOTAL GENERAL FIXED ASSETS (PAGE 1 OF 1) !NVESTtv1ENT IN GENERAL FiXED ASSETS FROM: General Obligation Bonds Federa! Grants State Grants County Grants General ,'(evenues Donations TOTAL iNVESTMEi'H if'~ GENERAL FIXED ASSETS 12b $ 28.541 .726 65,777.064 21,878)68 9,278,073 4.699,2L;3 4D87.259 $ ===='=; 3~4~2~6~2=ii13~C!= $ 39,514,971 6,962,482 2,414.915 5.973,471 76,970, 128 2.426.166 s ==="'""4"2"6"2'=';,, 1!;;3; FUNCTiON Genera! Government Security of Persons/Property Physical Environment Transportation Economic Environment Cuiture end Recreation $ TOT/\.L 47,633,998 15,246,346 3,69'2.243 3.626.451 1,871,888 62,191,207 1'34262133 TOTAL GENERAL FIXED ASSETS $ =="°=-"'°'""""= FUNCTION General Government Security of Persons/Property Physical Environment Transportation Economic Environment Culture and Recreation TOT AL GENERAL F!XED ASSETS s s GENERAL FIXED ASSETS 1/01/01 45,472,035 13,531,035 3,826.083 l,664,090 1,943.750 60,272.823 1'~ 7Q281Q s s SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTiON AND ACTIVITY AS OF DECEMBER 31 . 2001 (PAGE 1 OF 1) IMPROVEMENTS OTHER THAN LAND BUILDINGS BUILD!NGS 1.456,463 s 40.961.181 s 594.134 261,249 4,881,591 215.027 0 2,751,874 741.351 759.563 118,218 2,443,761 472,0l6 l,305.507 72.211 25,592.435 15.758,693 17.812,284 2~~1 72Q $ QQ.777 QQ4 s ,1 ~7~ z~ SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY YEAR ENDED DECEMBER 31, 2001 (PAGE 1 OF 1) INCREASES s 3.791.087 3,568,218 0 2. 129.138 39.618 2,401,154 s 1].929~l]~ 126 MACHINERY CONSTRUCTION AND JOINT WORK!N EQU!PMENT VENTURE PROGRESS $ 4.339 .625 $ 0 s 282-595 3,838.478 4,087 .259 l ,962.742 199.018 0 0 304,909 0 0 22.154 0 0 573,889 0 2,453.906 s 9 278 Q7~ s 4 Q~7 259 s 4 Q22 ?4~ GENERAL FIXED ASSETS DECREASES 12/31 /01 s 1,629, 124 s 47.633,998 1,852,907 15,246,346 133.840 3,692,243 i66.777 3.626,451 111,480 1,871,888 • 482,770 62,191.207 , 4 ~ZQ 89Q $ 1~;129~ 1.11 GENERAL LONG-TERM DEBT ACCOUNT GROUP DECEMBER 31, 2001 The General Long-Term Debt Account group is self-balancing and is used to account for unmatured principal on the General Obligation Long-Term Debt of the City of Renton, including General Obligation Bonds (refunded issues are excluded), installment contracts, applicable accrued employee leave benefits and special assessments. This indebtedness is backed by the full faith and credit of the City of Renton. 127 GENERAL LONG TERM DEBT ACCOUNT GROUP COMPARATIVE BALANCE SHEET DECEMBER 31, 2001 \NiTH COMPARATIVE TOTALS FOR DECEMBER 31, 2000 (PAGE 1 CF 1) f\SSETS· Ava!lob!e in Debt Service & Capital Project Funds Amount To Be Provided Long Terrn Debt Retirement TOTAL ASSETS UABiLITiES AND FUND EQUffY: LIABILITIES General Ob!igotion Bonds Payable Special Assessment Debt \filth Government Commitment Accrued Employee leave Benefits lnstoliment Purchase Contracts TOTAL UABIUTIES 128 200' s 2,546.129 31.103]73 s 33 649 902 s 29,095,583 135,000 4225,611 193J08 3~ 649 2.Q2 2000 s 2.653,495 26,236,595 ?§ 890 090 s 24,126.908 320.000 4.224,352 218,830 s 2R A9Q 090 STATISTICAL SECTION DECEMBER 31, 2001 Presentations included in the Statistical Section of the Comprehensive Annual Financial Report (CAFR) provide detailed data on the physical, economic, social, and political characteristics of the reporting government. They are intended to provide CAFR users with a broader and more complete understanding of the government and its financial affairs than is possible from the financial statements and supporting schedules included in the Financial Section. Statistical tables usually cover more than two fiscal years and often present data from outside the accounting records. Therefore, in contrast to financial section information, statistical section data are not usually susceptible to independent audit. 129 TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION, INCLUDING CHANGES IN FUND BALANCES -LAST TEN FISCAL YEARS, FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS (PAGE 1OF2) Ten Year Annual GenemJ Governmental Revenue Trends M $70 !----------------------~·--··------~--a-a-f§J_i~ $60 7-------------------------!~~i----~s1J_f_ :~-~-~ - o $50§--;~-142.6 _ l!!l_~.d:::-::::r ______ j__ _______ L _____ L ____ J n $40 0 $30 f $20 D 0 $f0 I I 0 $0 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 DESCRIPTION 1992 1993 1994 REVENUES Taxes $ 32,869,130 $ 31,204, 165 $ 30,785,983 $ Licenses and Permits l,258,803 1,145,967 1,310,570 Intergovernmental Revenues 2,892,682 4,297,932 4,998,676 Charges for Services 1,610,795 1,437,069 1,543,902 Fines and Forfeits 884,692 881,016 1,107,779 Miscellaneous 3,684,479 2,249,836 2,835,811 TOTAL REVENUES $ 43,200,581 $ 41,215,985 $ 42,582,721 $ EXPENDITURES General Government $ 5,607,839 $ 5,258,009 $ 5,998,922 $ Security of Persons and Property 13,551,649 15,654,019 17,272,774 Physical Environment 1, 157, 112 1, 163,369 999,985 Transportation 3,074,076 2,937,977 3,422,909 Economic Environment 2,893,077 3, 155,164 3,524,258 Mental and Physical Health 229,013 8,983 10,755 Culture and Recreation 4,291,090 4,603,052 4,946,035 Capital Outlay 4,793,884 549,412 547,281 Debt Service 3,947,606 3,554,238 4,289,678 TOTAL EXPENDITURES $ 39,545,346 $ 36,884,223 $ 41,012,597 $ Other Increases (Decreases) (357,401) ( 1,831,265) (335,802) Transfer In/Out 0 106,593 0 FUND BALANCE, JANUARY 1 8,726,560 12,024,394 14,631,484 FUND BALANCE, DECEMBER 31 i 12,024,394 i 14,631,484 i 15,865,806 i Source: City of Renton Finance Department. 130 1995 33,970, 167 1,236,046 4,343,249 • 4,818,352 998,553 3,080,883 48,447,250 7,807,624 17, 187,719 1,520,374 4,947,622 3,606,022 7,843 5,130,721 494,585 3,347,293 44,049,803 (2,336,448) 1260,482) 15,845,156 17,645,673 $ I $ $ $ $ TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION, INCLUDING CHANGES IN FUND BALANCES -LAST TEN FISCAL YEARS, FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS (PAGE 2 OF 2) Ten Year Annual Genergl Governmental Ending Fund Bglgnce M $25 ~-------------------------------------------------- D 0 ~ ---------+------~---i-------+-----+------+--------+----+------~ a ~ ----+----·-c------c-----+---~-----f------+------+-----4 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 1996 1997 1998 1999 2000 2001 36,226,318 $ 37,903,857 $ 40,061,373 $ 42,807,838 $ 46,365,818 $ 48,802,624 1,569,007 2,145,849 2,086,727 1,745,899 2,630,315 2,151,168 4,044,611 4, 164,921 4,184,545 3,600,258 3,738,843 3,323,816 5,344,029 5,546,295 7,699,258 5,488,634 5,821,977 5,828,449 958,082 733,561 722,054 831,327 1,008,098 978,717 3,513,802 3,601,057 5,139,563 2,668,990 2,742,896 2,735,525 51,655,849 $ 54,095,540 $ 59,893,520 $ 57, 142,946 $ 62,307,947 $ 63,820,299 8,420,834 $ 8,675,215 $ 9,915,676 $ 9,972,040 $ 10,648,052 $ 11,062,898 18,344,175 19,249,622 20,074,074 21,336,276 22,861,304 23,596,319 1,759,571 1,708,461 1,730,735 1,892,549 1,769,012 1,878,916 4,509,833 4,896,235 4,838,713 5,130,703 5, 118,420 5,545,590 3,022,503 3,414,034 4,060,970 3,792,464 4,327,075 4,477,535 5,746 7,570 10,962 8,486 8,599 6,756 5,429,238 5,592,278 5,804,099 6,159,132 6,602,437 7,260,078 2,302,888 3,496,515 4,881,689 717,037 315,324 176,202 3,933,368 3,547,127 3,413,505 4,053,582 3,686,306 3,089,491 47,728,156 $ 50,587,057 $ 54,730,423 $ 53,062,269 $ 55,336,529 $ 57,093,785 (1,129,720) (5, 110,847) (7,308,428) (2,428,669) (2,469,837) (7,384,7 61) (544,504) 0 63,110 ( 6,315,060) (955,000) 0 17,645,773 19,899,242 18,296,878 16,005,236 11,342, 184 14,888,765 19,899,242 $ 18,296,878 $ 16,214,657 $ 11,342, 184 $ 14,888,7 65 $ 14,230,518 131 TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS (PAGE l OF 2) 8 Ten Year Assessed Volootion Trends $60 r 0 $5.0 c $4.0 ~d 0 S3.0 t- D $2.0 1111 0 Sl.O $0.0 0 1992 DESCRIPTION 1992 1993 ASSESSED VALUE DECEMBER 31: Real Property Value $2.466.868.427 $2. 730.285,285 Personal Property Value 664, 964.302 699.080.839 TOTAL ASSESSED VALUE 3. 131.832.729 3.429,366, 124 CITY AND OVERLAPPING TAX RATES: (a) City of Renton: General Levy $3.28917 $3.23416 City of Renton: Special Levy 0.40324 0.41577 City of Renton Total $3.69241 $3.64993 King County 1.79973 2.14039 Port of Seattle 0.34421 0.30518 Hospital District # 1 0.17781 0.16238 Renton School District # 403 2.13257 3.89165 State of Washington 3.54132 3.30069 Emergency Medical Services 0.25000 0.23942 TOTAL PROPERTY TAX RATES $11.93805 $13.68964 PROPERTY TAX LEVIES AND COLLECTIONS LEVY: (b) Orlgino! $11.507,994 $12,436. 132 Adjusted 11.408.258 12.333.996 COLLECTIONS: Current Collections $11.194.251 $11.941.091 Percent of Adjusted Levy 98.12% 96.81% Delinquent Collections $284.769 $194.799 TOTAL COLLECTION OF CURRENT & DELINQUENT $11.479.020 $12, 135.890 PERCENT OF ADJUSTED LEVY 100.62% 98.39% OUTSTANDING DELINQUENT TAXES $374. 168 $572.274 PERCENT OF DELINQUENT TAXES TO ADJ LEW 3.28% 4.64% Source: King County Department of .Assessments. (a) Property tax rates are in dollars per S 1,000 of taxable property valued at 100%. (b) Restated for error in reporting for 1'»3 CAFR. 132 1994 $2.756,919.925 673.405, 117 3.430.325,042 $348681 0.36282 $3.84963 2.21546 0.30367 0. 14767 3.60091 3.39960 0.24972 $13.76666 $13. 121,967 12,898,033 $12.654,957 98.12% $404.787 $13.059.744 101.25% $410.563 3.18% 1995 $2.904.421.288 675.278,785 3.579. 700.073 $3.55454 0.36408 $3.91862 2.25288 0.29482 0. 15084 3.52218 3.41873 0.24990 $13.80797 $13.971.424 13.799.832 $13.327.749 96.58% $323.487 $13.651.236 98.92% $559. 159 4.05% 1996 TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS 1997 State 26% (PAGE 2 OF 2) Prooertv Tax Allocgtion 1998 City of Renton 28% Schools 28% King county 13% 1% 1999 2000 2001 $2, 933, 904,882 $2, 978,575,856 $3,099, 917,868 $3,543,075,457 $3,830,517,200 $4,3 l 7, l 5 L020 612, 192,280 647,025, 908 725, 191,466 715,425,293 714.803,819 7 45,490,732 3,546,097, 162 3,625,601,764 3,825, 109,334 4,258,500, 750 4,545,321,019 5,062,641,752 $3,60000 $360000 $3,55000 $3,42726 $3,39877 $327385 0,34413 0,38781 0,34608 0,31981 028488 0, 10078 $3,94413 $3,98781 $3,89608 $3,74707 $3.68365 $3,37463 2.20943 2,13173 L85l09 L77385 L6895l ),55218 029211 028261 026466 023898 0,21585 0,19029 0, 15698 0,15959 0,15934 0,15354 0,11830 0,09873 3,71940 3,53615 3.49222 3,78290 3,65397 3,36669 3,49966 3,52499 3,51138 3,35872 3,30278 3,14502 024987 0,25000 n/a 0,29000 027299 0,24624 $14,07158 $13,87288 $13,17477 $13,34506 $12.93705 Sl L97378 $13,898,8 l 8 $14,364,723 $14,822,739 $15,843,325 s 16,658,569 $17,007,993 13,583,469 14, 167,346 14,719,382 15,850,628 16,633,388 16,967,683 $13,359,611 $13,970, 125 $14,511, 118 $15,595,427 $16,337,790 $16,677,882 98,35% 98.61% 98,59% 98,39% 98,22% 9829% $347,054 $315,345 $211, 113 $215,939 $238,361 $264,579 $13,706,665 $14,285,470 s l 4,722.231 $15,81 l,366 $16,576, 151 $16, 942,461 100,91% 100,83% 100.02% 99.75% 99,66% 99,85% $435,963 $317,841 $314,989 $354,250 $389,125 $414,348 321% 224% 2,14% 223% 2,34% 2,44% 133 FISCAL YEAR POPULATION 1992 43,090 1993 43,470 1994 43,970 1995 44,890 1996 45,170 1997 45,920 1998 46,270 1999 47,620 2000 48,270 2001 51,140 TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBTTO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA· LAST TEN FISCAL YEARS (PAGE 1OF1) Ten Year R&nton Per Cgpitg Net Bonded Pebf Trends $700 ---·--· ------------1$~;;-r ------------- $600 1--·~------·--------------1$583_L ------·· r:--~ . . . . -1$539-) fi49• I $4a2J __ _ $5~-----1$450 r------ fi39D - $400 ---!$353 ~---!----+···--·····--··-·-+·-···-·+ $300 ~-·-··+-··-···--···---+-------"·--···-·--··-'·----~--------+··---···" $100 ~-----·--··-·--t-····--~------r·----t----·--·-··-~·---~--·-······~ $0 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 DEBT SERVICE NET RATIO OF NET ASSESSED GROSS FUNDS BONDED BONDED DEBT TO VALUE BONDED DEBT AVAILABLE DEBT ASSESSED VALUE $ 3, 131,832, 729 $ 22,318,712 $ J,039,480 $ 21,279,232 0.683 $ 3,429,366, 124 $ 22,258,603 $ 1,288,208 $ 20,970,395 0.613 $ 3,430,325,042 $ 21, 160,297 $ l,373,226 $ 19,787,071 0.583 $ 3,579.700,073 $ 19,065,569 $ l,220,234 $ 17,845,335 0.503 $ 3,546,097, 162 $ 17,382,945 $ l,426,722 $ 15,956,223 0.453 $ 3,625,601, 7 64 $ 30, 121,269 $ 1, 184,279 $ 28,936,990 0.803 $ 3,825, l 09,334 $ 28,486,738 $ l,527,931 $ 26,958,807 0.703 $ 4,258,500,750 $ 26,466,763 $ 2,004,373 $ 24.462,390 0.573 $ 4,545,321,019 $ 24,345,738 $ 2,096,755 $ 22,248,983 0.493 $ 5,062,641,752 $ 29,289,290 $ l,702,901 $ 27,586,389 0.543 Source: State of Washington Office of Program Planning and Fiscal Management, King County Deportment of Assessments, and City of Renton Finance Deportment. 134 i NET BONDED DEBT PER CAPITA $ 494 $ 482 $ 450 $ 398 $ 353 $ 630 $ 583 $ 514 $ 461 $ 539 . B FISCAL YEAR 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Source: $ $ $ $ $ $ $ $ $ $ 0 c 0 ~ c 0 u ~ 0 u TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS LAST TEN FISCAL YEARS (PAGE 1OF1) Specig! Assessment Bfflinas and Collections 240.03·······-···-· .. ·---···-.-............... --....... --·-··· .. -·----.... · .. ··-- ! 210.03 _, -···--"·-· i11aao%1 ::: ~~ ... + ...... -i .. ---+· ......... +...--+·-··-+··-·""'-...._j13783! ,113.93 120.03 +.--.............. ""'.,.. __ ... ;... .......... __.j_ ... _ .... +-.. ---,··· .. ··-·+-··-·-,.----·-I 90.03 +-----+-.. ---······--r-...... _ _, __ ... --.·---+-··· .. ···c-·-.. +· .... --c 60.03 , ... --., .......... ,.. ....... _r·---·--f ... -......... ,---c-.. ·····~ ............. +-·-·-1 30.03 0.03 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 ASSESSMENTS COLLECTION RECEIVABLE ADDITIONAL ASSESSMENT ASA% -COLLECTION - 1/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 5,756, 160 $ 0 $ 1,284,581 $ 1,739,087 $ 675,531 $ 2,414,618 187.973 $ 3,876,542 $ 1,654,063 $ 737,439 $ 592,131 $ 441,136 $ 1,033,267 140.123 $ 5, 110, 162 $ 326,364 $ 889,261 $ 685,629 $ 327,520 $ 1,013, 149 113.933 $ 4,750,897 $ 124,294 $ 588,009 $ 908,724 $ 342, 194 $ 1,250,918 212.743 $ 4,212,282 $ 0 $ 820,459 $ 1,002,924 $ 607,356 $ 1,610,280 196.273 $ 3,209,358 $ 0 $ 471,759 $ 605,594 $ 215,457 $ 821,051 174.043 $ 2,603,764 $ 441 $ 392,626 $ 568,553 $ 170,563 $ 739, 116 188.253 $ 2,035,652 $ 76,880 $ 471,303 $ 728,920 $ 142,528 $ 871,448 184.903 $ 1,383,612 $ 0 $ 311,375 $ 352,649 $ 82,097 $ 434,746 139.623 $ 1,030,963 $ 0 $ 293,261 $ 333,056 $ 71,088 $ 404, 144 137.813 $ City of Renton Finance Department. 135 ASSESSMENTS RECEIVABLE 12/31 4,017,073 4,938,474 4,750,897 3,966,467 3,209,358 2,603,764 2,035,652 1,383,612 1,030,963 697,908 TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES AS OF DECEMBER 31, 2001, AND ALL DEBT CAPACITIES -LAST TEN FISCAL YEARS (PAGE 1OF1) Ten Year Debt Capgcttv Trends $60 Councilmanic _1 $54.4 ,--.--------, '$48.6i $50.8j $45 ·V r,·l 09·-... :.3.3j $~ ,.. --- .__......--'"' -I M [$3o-:-61~3~2~:-lc_e-ss_L_e_vy~ (Voted) $0 +.------------c--------,------------. -------------------,-"---------,---------------------,----- 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 GENERAL CAPACITY SPECIAL PURPOSE CAPACITY PARKS AND UTILITY TOTAL DESCR!PTlON COUNC!LMAN!C EXCESS LEVY OPEN SPACE PURPOSES CAPACITY ASSESSED VALUE 12000)1 $5,062.641,752 2.503 of Assessed Value $ NIA $ 126,566,044 $ 126,566.044 $ 126,566.044 $ 379 ,698, 131 l .503 of Assessed Value 75.939.626 175.939.6261 NIA NIA 0 STATUTORY DEBT UMIT $ 75.939.626 $ 50,626,418 $ 126,566,044 $ 126,566,044 $ 379.698.131 Genera! Obligation Bonds $ 25.580.581 $ 3.375.000 $ 140.000 $ 0 $ 29,095,581 Installment Contracts {a) 193,709 0 0 0 193.709 TOTAL DEBT OUTSTANDING $ 25,774,290 $ 3.375.000 $ 140,000 $ 0 $ 29.289.290 Less Amount Available in Debt Service Funds $ 654,025 $ 549.207 $ 499,669 $ 0 $ l,702,901 NET DEBT OUTSTANDING $ 25.120.265 $ 2.825.793 $ 1359.669) $ 0 $ 27.586.389 REMAINING DEBT CAPACITY $ 50,819,361 $ 47,800,625 $ 126,925,713 $ 126,566,044 $ 352, 111,7 42 Source: King County Department of Assessments. City of Renton Finance Deportment. (a) Statutory limit= .753 of 13 of assessed value. 136 r TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT-DECEMBER 31, 2001 (PAGE l OF l) Cttv of Renton Direct and Overlgooing Debt JURISDICTION NET DIRECT DEBT: City of Renton OVERLAPPING DEBT: King County Port of Seattle $14() M $120 i 0 SlOO n s S80 0 f D $60 0 I I a s $20 +------4 $0 Renton School District # 403 Sub-Total TOTAL DIRECT AND OVERLAPPING DEBT ....... . . . . . . . ' ... ' .. . . . . . . . . . . . . . . ' " ..... . . . . . . . . . ' ... ' ... " ... . . . . . . . . . . . ' .. . . . . . . . . . . . . . . . . . . . . . ....... NETDEBT OUTSTANDING $27,586,389 $644,203,880 $240, 125,000 $158, 141,415 $ l ,042,470,295 $ l,070,056,684 PERCENTAGE APPLICABLE TO RENTON lOCl.00% 2.65% 2.65% 54.04% 10.45% 12.75% Source: King County Department of Finance and King County Department of Assessments. 137 AMOUNT APPLICABLE TO RENTON $27,586,389 $17.071,403 $6,363,313 $85,459,62 l $ l 08,894,337 $136,480, 726 TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS TO TOTAL GENrnAL GOVERNMENT EXPENDITURES -LAST TEN FISCAL YEARS (PAGE l OF l) Ten Yeor Debt Service to Exoendffure RQflo Trend 6.003 3.003 0.003 1992 1993 1994 1995 1996 1997 1998 1999 2()(X) 2001 lb) TOTAL GENERAL RATIO OF DEBT FISCAL la) (a) TOTAL GOVERNMENTAL SERVICE TO YEAR PRINCIPA.L INTEREST DEBT SERVICE EXPENDITURES EXPENDITURE 1992 $ l.123,341 $ l,355,678 $ 2,479,019 $ 39,545,346 6.273 1993 $ 1,276, 160 $ l,304,215 $ 2,580,375 $ 36,884,223 7.003 1994 $ 1,614,288 $ 916,353 $ 2,530,641 $ 41,012,597 6,173 1995 $ l,720,397 $ 843,051 $ 2,563,448 $ 44,049,803 5.823 1996 $ 1,631,40.S $ 770, 117 $ 2,401,523 $ 47,728, 156 5.033 1997 $ l,619,87!3 $ l,093,294 $ 2,713, 172 $ 50,587,057 5.363 1998 $ l ,499,41!3 $ 1,251,809 $ 2,751,227 $ 54,730.423 5.033 1999 $ 2,019,97.S $ 1,252,437 $ 3,272,413 $ 53,062,269 6.173 2000 $ 2, 121,02.5 $ l, 160,537 $ 3,281,562 $ 55,336,529 5.933 2001 $ 1,901,447 $ 981,680 $ 2,883, 127 $ 57,093,785 5.053 (al Principal and Interest c:Jre based on total GO Bond debt payments. {b) General Government bpenditures include General, Special Revenue, and Debt Service Funds. Other Financing Usesond Residual Equity Transfers are not included. Source: City of Renton Flrtance Department 13B ii TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND GOLF SYSTEM BONDS LASTTEN FISCAL YEARS (PAGE I OF 1) Wot&r/Sewer Reyenue Bond Debt Seryice Coverage 4.00 c 0 3.50 l ______ ---------------------------- v e 3.00 a 2.50 g 2.00 e R 1.50 a LOO t 0.50 0 0.00 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 (a) OPERATING NET REVENUE AVERAGE ANNUAL COVERAGE FISCAL GROSS EXPENSES AVAILABLE FOR DEBT SERVICE (b) IS TO BE YEAR REVENUE W/0 DEPREC. DEBT SERVICE REQUIREMENTS COVERAGE AT LEAST WATER AND SEWER REVENUE BONDS: 1992 $ 15,581,113 $ 9,767,486 $ 5,813,627 $ 2.214,024 2.63 1.3 1993 $ 16,809,047 $ 10,478, 147 $ 6,330,900 $ 2,679,581 2.36 1.3 1994 $ 18,266, 154 $ l l,500,657 $ 6,765,497 $ 3,004,180 2.25 l.3 1995 $ 20,781,235 $ 13,187,048 $ 7,594, 187 $ 3,131,174 2.43 l.3 1996 $ 22,842,549 $ 14,750,009 $ 8,092,540 $ 3,173,846 2.55 1.3 1997 $ 22,854,798 $ 14,580,175 $ 8,274,623 $ 3, 151,984 2.63 l.3 1998 $ 23, 126,374 $ 14,877,435 $ 8,248,939 $ 3,155,670 2.61 l.3 1999 $ 23,861,l 59 $ 16,407,442 $ 7,453,717 $ 2,658,909 2.80 L3 2000 $ 25,541,809 $ 15,653,774 $ 9,888,035 $ 2,650,713 3.73 l.3 2001 $ 23,508,826 $ 16,051,720 $ 7,457,106 $ 2,638,201 2.83 L3 GOLF COURSE REVENUE BONDS (c): 1994 $ l,319,025 $ 561,028 $ 757,997 $ 419,334 1.81 1.25 1995 $ l,490,505 $ 767,283 $ 723,222 $ 421, 127 l.72 1.25 1996 $ 2,078,745 $ 1,076,030 $ 1,002,715 $ 431,521 2.32 1.25 1997 $ 2,724,692 $ l,270,849 $ 1,453,843 $ 455,626 3.19 l.25 1998 $ 2,432,929 $ l,355,669 $ 1,077,260 $ 455,742 2.36 1.25 1999 $ 2,252,217 $ 1,278,489 $ 973,728 $ 439,979 2.21 1.25 2000 $ 2,328,044 $ l,320,681 $ 1,007,363 $ 440, 164 2.29 1.25 2001 $ 2,377, 197 $ 1,480,024 $ 897, 173 $ 440,223 2.04 1.25 (a} Gross revenue includes connection charges, system development charges, and latecomer fees. (b) Bond financing requirements are that fhe average annual coverage is at least 1.3 times the overage annual debt service for Water and Sewer revenue bonds. The Golf System revenue bonds coverage requirement is at least 1.25 times that of respective calendar year's annual debt service. (c) Golf System Revenue Bonds were issued July l. 1994 and refunded Aprill. 1999. Source: City of Renton Finance Department. 139 ,----------------~- Finance Transportation/Utilities Manufacturing Wholesale General Retailing Construction Services Auto Dealers TABLE 9: CITY OF RENTON RETAIL SALES BY SOURCE LAST FIVE FISCAL YEARS (PAGE l OF l) Changing Sales Tax Composition (1997 vs 2001) -6.003 -4.003 -2.003 0.003 2.003 4.003 6.003 8.003 10.003 12.003 1997 1998 1999 2000 2001 SOURCE AMOUNT % AMOUNT % AMOUNT % AMOUNT % AMOUNT Auto Dealers $326.383, l 00 22.16% $377,585,700 23.04% $371.149,408 24.66% $409, 110,750 24.143 $359,922,566 Services 209,241,100 14.213 181.179,400 11.06% 155.010,916 10.30% 184,010,624 !0.86% 184,448,578 Construction 220,544,200 14.983 271,811,200 16.593 169,985.732 11.303 203.430.733 12.00% 233.809 ,887 General Retailing 370.568,200 25.16% 406.948,500 24.83% 492.673, 912 32.743 568,751,443 33.55% 598,500.227 Wholesale 184,397,100 12.52% 195,404,500 ll .92% 186,629 ,695 12.40% 183,977,330 !0.85% 170,882,622 Manufacturing 76,016,500 5.16% 91,426,300 5.58% 25. !15,537 1.673 25,251,464 1A93 45,099,847 Transportation/Utilities 63, 179,600 4.29% 65.408,900 3.99% 71.933,082 4.78% 82.501, 187 4.87% 56.809,524 Finance 15,307,300 1.043 21.844,900 l.33% 22.901.820 l.52% 27.440.587 l.62% 37.543,871 Other 7.009.500 0.48% 27.034,200 l.65% 9,363.845 0.623 10,546,942 0.62% 10.401,230 TOTALS $ l.472,646.600 100.00% $ l.638.643.600 100.00% $1.504,763,947 100.00% $1.695.021.060 100.00% $ l.697.418,352 Source: City of Renton Finance Department 140 % 21.20% 10.87% 13.77% 35.26% !0.07% 2.66% 3.35% 2.21% 0.61% 100.00% TABLE JO: 10 LARGESTTAXPAYERS BASED ON ASSESSED VALUATION AND PRINCIPAL EMPLOYERS (PAGE 1OF1) 2001 REAL PROPERTY ASSESSED TAXPAYER TYPE OF BUSINESS VALUATION The Boeing Company Aerospace & Computer Services 740,451,153 PACCAR Heavy Manufacturing 95,306,433 Puget Sound Energy Electric/Gos Utility 68,989,748 Notional Tax Search LLC Tax Consultant/Representative 67,008,200 US West Telephone Utility 34,993,899 Spieker Properties LP Rea! Estate Developer 33,931,821 University Street Properties Office Building 33,043,400 Washington Mutual Bank Retail -Miscellaneous 22,661,800 Rosche One Interests Office Building 21,531, 100 A va!on Bay Communifles Inc Apartment Building 21,206,000 Total Assessed Valuation -Largest Taxpayers $ I, 139, 123,554 Tota! Assessed Valuation -AU Others 3,923,518,198 otal Assessed valuation $ 5,VOL,64 J ,75L 2001 FULL TIME EQUIV. PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES The Boeing Company Aerospace & Computer Services 19,463 Valley Medico! Center Medical Services l,488 Renton Schoo! District Public Education 1,307 Federal Aviation Administration Federal Government l,234 City of Renton City Government 679 Wizards of the Coast Retail -Miscellaneous 609 PACCAR Heavy Manufacturing 589 Zones International Computer Hard/Software Retail 571 Wal Mart Store #2516 Retail -Miscellaneous 356 K & l Distributors Wholesale Distributor 338 Total Number of Employees -Principal Employers 26,634 Total Number of Employees -AU Other Employers 18,939 Tota! Employees Working Within Renton 40,J/J Source: Assessed Va!uatlon: King County Department of Assessments. Assessed Valuation for Largest Taxpayer: King County Department of Assessments, Both real and personal property assessment where applicable. Number of Employees: Estimated based upon City of Renton Business License Records and individuar inquiry where applicable. 141 PERCENT OF ASSESSED VALUATION 14.633 1.883 1.363 1.323 0.693 0.673 0.653 0.453 0.433 0.423 22.503 77.503 ]UV.W7o PERCENT OF EMPLOYEES 42.713 3.273 2.873 2.713 1,493 1.343 1.293 1.253 0.783 0.743 58.443 41.56% lw.003 FISCAL YEAR 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 M $180 TABLE 11: CONSTRUCTION PERMITS LAST TEN FISCAL YEARS (PAGE 1OF2) New Constructfon Permit Vg!ugtion Trend $150 ----------------------------~-----------------------------COTHER PERMITS 0 ; ! ·.· n $120 0 $90 D $60 0 I ;[!MULTI FAMILY -"*'·~ --" i I $30 ---t!if.!i!t-1 lllCOMMERCIAL 0 L _________ _ $0 1994 1995 1996 1997 1998 1999 2000 2001 NEW CONSTRUCTION ALL NEW BUILDING PERMITS OTHER PERMITS CONSTRUCTION COMMERCIAL MULTI FAMILY SINGLE FAMILY COM/MULT!/StNGLE PERMITS NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUATION N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A NIA N/A NIA 26 $ 41,646.451 21 $ 10.755.923 97 $ 13.384,973 531 $ 14.455.415 675 $ 80,242,763 29 $ 43,913.909 16 $ 7.051.996 133 $ 17,464,456 l, 100 $ 11.031,008 l.278 $ 79.461,369 26 $ 38,474,779 27 $ l 1,207,074 192 $ 27,344, 159 l,159 $ 6,684,931 1.404 $ 83.710,943 28 $ 56,368,747 73 $ 40,593,074 249 $ 37.453,977 1.639 $ 14,350,058 1,989 $ 148,765.857 34 $ 25, 191,943 78 $ 36.41 l,387 280 $ 37,017,381 892 $ 10,260,968 1.284 $ 108,881.679 34 $ 32,900,792 32 $ 21,972,362 175 $ 25,902.812 601 $ 6,863,519 842 $ 87,639,485 35 $ 28,312,674 36 $ 32,045,355 351 $ 53,657,095 699 $ 10.596,874 l, 121 $ 124,611,998 9 $ 3,717,968 15 $ 16,635,694 376 $ 57,526, 127 474 $ 5.301,519 874 $ 83,181,308 Source: Construction permits and values ~ City of Renton Building Department. Note: For 1992 and 1993, the breakout as seen above ls unavailable, but Iota! permits and valuations are shown. Other permits include plumbing, electrical. mechanical, and sign permits. Starting September 1997, Combo Building Permits are being issued for new residential construction. This combo permit combines permits for building, electrical, mechanical, and plumbing. 142 FISCAL YEAR 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 M 0 n 0 $270 $240 f $120 D $90 0 l $60 a 1992 COMMERCIAL NO.OF DOLLAR PERMITS VALUE N/A N/A N/A NIA 380 $ 42.431.505 336 $ 23,760,983 314 $ 33. JJ2,674 356 $ 64,142,868 317 $ 56,323.245 277 $ 25,879,237 310 $ 77.340.658 247 $ 27,005,353 TABLE 11: CONSTRUCTION PERMITS LAST TEN FISCAL YEARS (PAGE2 OF2) Ten Year Totgf Consirudfon Petmlt Vg!ugtion lrer!d 1993 1994 1995 1996 1997 1998 ADDITION AU ALTERATION CONSTRUCTION BUILDING PERMITS OTHER PERMITS MULTIFAMILY SINGLE FAMILY COM/MULTI/SINGLE NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR PERMITS VALUE PERMITS VALUE PERMITS VALUE N/A N/A N/A N/A N/A NIA NIA N/A NIA NIA NIA N/A 14 $ 449,075 96 $ 1,697.251 1,990 $ 17.729,294 12 $ 203,450 99 $ 1.856,162 l,618 $ 16,014,437 31 $ 666,046 97 $ 1.679.484 1.652 $ 14.336,769 JJ $ 303, JJ2 96 $ 1.418.804 1,891 $ 24.615,480 14 $ 3.819,252 101 $ 1.549,018 l,960 $ 23.704.320 100 $ 537,329 146 $ 1.889,443 1,761 $ 15,932,899 58 $ 1.027,001 137 $ 2.985.809 l.947 $ 31,477.806 47 $ 1.l59,050 115 $ 1.752.068 1,812 $ 14.989,741 143 1999 2000 2001 All ALTERATION TOTAL CONSTRUCTION All PERMITS PERMllS PERMITS VALUATION PERMITS VALUATION NIA N/A 3.526 $ 210,500,686 NIA NIA 3,564 $ 98.385,628 2.480 $ 62,307,125 3.155 $ l 42,549.887 2.065 $ 41.835,033 3.343 $ 121.296,402 2,094 $ 49,794,973 3.498 $ 133.505,916 2.354 $ 90,480,264 4,343 $ 239.246,120 2.392 $ 85,395,835 3.676 $ 194,277,514 2.284 $ 44.238.909 3,126 $ 131,878,394 2,452 $ l 12,831.274 3,573 $ 237.443,272 2.221 $ 44,906,212 3,095 < 128.087,520 FISCAL YEAR 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 p 0 p u I a t 0 n n T h 0 u s • n d s 60.0 I TABLE 12: DEMOGRAPHIC STATISTICS LASTTEN FISCAL YEARS IPAGE10Fl) Jen Year Popu!gffon Trends 50.0 +----- 30.0 1992 1993 1994 1995 1996 1997 1998 1999 2000 SCHOOL LABOR NUMBER NUMBER POPULATION ENROLLMENT FORCE EMPLOYED UNEMPLOYED 43,090 11,954 25,480 23,680 1,800 43,470 11,988 25,590 23,780 1,810 43,970 11,984 25,490 23,940 1,550 44,890 12,173 26,220 24,720 1,500 45,170 12,333 26,860 25,410 1,450 45,920 12,277 28,190 27, 150 1,040 46,270 12,532 28,990 28,010 980 47,620 12,500 29,537 28,513 l,024 48,270 12,443 29,370 28,300 l,070 51, 140 12,521 28,4IO 26,800 l,610 2001 UNEMPLOYMENT RATE 7.13 7.13 6.13 5.73 5.43 3.73 3.43 3.53 3,63 5.73 Source: Population -State of Washington Office of Program Planning and Fiscal Management. School Enrollment -Renton School District 403 Unemployment Rote -Employment Security Department, Labor Market and Economic Analysis Branch. Labor Market Information Center. 144 DATE OF INCORPORATION FORM OF GOVERNMENT TYPE OF GOVERNMENT LOCATION LAND AREA RANK IN SIZE~ STATE OF WASHINGTON RANK !N SIZE -KING COUNTY i POPULATION {Officio! April, 2000) 2000 KC CERT OF ASSESSED VALUATION tor the 2001 Tax Roll Year CITY EMPLOYEES {Actual Full Time Equivo!ents/FTEJ ELECTION & VOTER REGISTRA TlON Number of Precincts Number of Registered Voters f I 0/25/0l) FIRE PROTECTION Are Roting {Washington Survey and Roting Bureau) Number of Commissioned Fire Fighting Personnel Number of Stations {includes Dist #25) Total Fire loss Number of Ute Support Responses All Other Responses Toto! Number of Responses POLICE PROTECTION Number of Commissioned Police Personnel Number of Calls tor Services Toto! Crimes Reported (Closs!,!!, Ill) Traffic Accidents-Investigated All Other Traffic Vlo!ofions PARKS&. RECREATION Tota! Acreage Number of Pofks and P!oygrounds TABLE 13: MISCELLANEOUS STATISTICS DECEMBER 31, 2001 (PAGE l OF l) WASHINGTON STATE • seottte •RENTON •vancouver September 6, 190 l Mayor -Council Non-Charter, Code City 11 Miles south of Seattle 16.9 Square Miles 13 5 51.140 $5,062,641,752 683.l 71 27.672 3 105 5 $1.955,876 6,030 2.386 8,416 86 47,221 8,730 1,766 18.503 1.180 26 145 Spokane• TRAFFIC SIGNALS Number of Signatized Intersections STREETS Miles of Streets and alleys UTILITY SERVICES Wafer: Total Customers Total GaHons of Waler Produced Number of Fire Hydrants Miles of Water Main Sanitary Sewer: Total Customers Storm Drainage: Number of Accounts Miles of Storm Sewers LICENSE & PERMITS Business Licenses Amusement Devices Special Permits (Peddler) Animal Licenses (Dog and Cat) AIRPORT Area in acres feet at Aspholtic Concrete Runway Total Operations UBRARY l.Ibrories {Main and Highlands Branch) Total Registered Borrowers Toto! Circulation 104 195.64 14,538 2.590,249 .000 3,088 281.5 12,572 12,849 183.7 4,044 151 7 982 167.21 5,379 110,221 2 28.374 382.443 THIS PAGE INTENTIONALLY LEFT BLANK 146