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Home My WebLink AboutMONTH 2022 07Page 1 of 8 OVERVIEW This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through July 31, 2022. A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s financial management policies. GENERAL FUND The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation, human services, municipal court, street maintenance and planning, economic development, and administrative functions. The table below displays the year-to-date revenues and expenditures for the General Fund. Economic Development and Operating reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021-2022 Adopted Budget. Monthly Financial Report July 2022 Monthly Financial Report City of Renton, Washington July 2022 Page 2 of 8 General REVENUES: Taxes 59,839,483$ Licenses and permits 4,715,920 Grants / intergovernmental 2,759,412 Charges for services 6,209,674 Interdepartmental services - Fines and penalties 2,602,558 Miscellaneous 1,039,372 Sale of general fixed assets 2,000 Investment Earnings 261,314 Insurance recoveries 21,272 TOTAL REVENUES 77,451,005 EXPENDITURES: Personnel 37,761,802 Supplies 990,264 Contracted Services 11,495,532 Principal 225,309 Capital Outlay 103,020 Internal Services 10,240,143 TOTAL EXPENDITURES 60,816,070 Transfers In 14,187 Transfers Out (5,792,856) NET TRANSFERS (5,778,669) CHANGE IN FUND BALANCE 10,856,266 BEGINNING FUND BALANCE, Jan 1 69,102,662 Prior Period Adjustment 19,257 BEGINNING FUND BALANCE, Jan 1 - restated 69,121,919 ENDING FUND BALANCE, Jul 31 79,978,185$ ECONOMIC DEVELOPMENT RESERVE 2,500,000 OPERATING RESERVES 11,226,491 AVAILABLE FUND BALANCE, Jul 31 66,251,694$ Monthly Financial Report City of Renton, Washington July 2022 Page 3 of 8 DEBT SERVICE FUND Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to the City’s general obligation bond issues. The table below displays the year-to-date revenues and expenditures for the City’s debt service fund. Debt service reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021-2022 Adopted Budget. General Governmental Misc Debt REVENUES: Grants / intergovernmental 44,705$ Investment Earnings 15,507 TOTAL REVENUES 60,212 EXPENDITURES: Principal 410,873 Interest 659,568 TOTAL EXPENDITURES 1,070,441 Transfers In 611,550 NET TRANSFERS 611,550 CHANGE IN FUND BALANCE (398,679) BEGINNING FUND BALANCE, Jan 1 5,218,125 ENDING FUND BALANCE, Jul 31 4,819,446$ Debt Service Reserve 2,717,575 AVAILABLE FUND BALANCE 2,101,871$ Monthly Financial Report City of Renton, Washington July 2022 Page 4 of 8 SPECIAL REVENUE FUNDS Special revenue funds are used to account for revenues that are to be used for a specific purpose as required by law or legislative action. The table below displays the year-to-date revenues and expenditures for the City’s special revenue funds. CAPITAL PROJECT FUNDS Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The table below displays the year-to-date revenues and expenditures for the City’s capital project funds. Hotel-Motel Tax Cable Communications Housing and Supportive Services Springbrook Wetlands Fire Impact Mitigation School District Impact Mitigation Police Seizure Police CSAM Seizure REVENUES: Taxes 238,887$ -$ 2,443,119$ -$ -$ -$ -$ -$ Licenses and permits - 48,049 - - - - - - Grants / intergovernmental - - - - - - - - Charges for services - - - - 1,138,401 3,927,689 - - Fines and penalties - - - - 1 - - 2,495 Contributions 10,000 - - - - - 31,007 - Investment Earnings 2,342 2,033 10,672 1,005 7,099 3,527 1,391 508 Sale of Fixed Assets - - - 230,300 - - - - TOTAL REVENUES 251,229 50,082 2,453,791 231,305 1,145,501 3,931,216 32,398 3,003 EXPENDITURES: Personnel - - - 3,938 - - - - Supplies - 180,136 - - - - (5,224) - Contracted Services 143,647 45,524 1,500,000 4,400 - 3,928,248 105,708 - Capital Outlay - - - - - - 139,791 18,311 TOTAL EXPENDITURES 143,647 225,660 1,500,000 8,338 - 3,928,248 240,275 18,311 - Transfers In - - - - - - - Transfers Out - - - - - - NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 107,582 (175,578) 953,791 222,967 1,145,501 2,968 (207,877) (15,308) BEGINNING FUND BALANCE, Jan 1 728,421 731,245 3,171,729 234,325 1,960,733 12 631,525 174,826 Prior Period Adjustment - - - - - - - - BEGINNING FUND BALANCE, Jan 1 - restated 728,421 731,245 3,171,729 234,325 1,960,733 12 631,525 174,826 ENDING FUND BALANCE, Jul 31 836,003$ 555,667$ 4,125,520$ 457,292$ 3,106,234$ 2,980$ 423,648$ 159,518$ CS Impact Mitigation Transportation Impact Mitigation REET 1 REET 2 Municipal Facilities CIP Capital Investment Family First Center REVENUES: Taxes -$ -$ 2,219,040$ 2,219,039$ -$ -$ -$ Grants / intergovernmental - - - - 181,008 6,013,764 1,455,000 Charges for services 1,380,786 6,971,036 - - 4,700 - - Fines and penalties - - - - - (107) - Contributions - - - - - - 4,692,222 Sale of general fixed assets - - - - - - - Investment Earnings 11,518 25,739 16,729 29,371 51,901 28,200 27,014 TOTAL REVENUES 1,392,304 6,996,775 2,235,769 2,248,410 237,609 6,041,857 6,174,236 EXPENDITURES: Personnel - - - - 227,747 52,349 - Supplies - - - - - 44,451 - Contracted Services - - - - 114,083 35,941 38,101 Capital Outlay - - - - 1,653,912 8,995,256 5,433,042 TOTAL EXPENDITURES - - - - 1,995,742 9,127,997 5,471,143 Transfers In - - - - 3,000,000 - 50,643 Transfers Out - - - - (50,643) - - NET TRANSFERS - - - - 2,949,357 - 50,643 CHANGE IN FUND BALANCE 1,392,304 6,996,775 2,235,769 2,248,410 1,191,224 (3,086,140) 753,736 BEGINNING FUND BALANCE, Jan 1 3,433,393 5,159,035 4,508,117 8,773,145 16,824,783 10,868,853 8,238,935 Prior Period Adjustment - - - - - - - BEGINNING FUND BALANCE, Jan 1 - restated 3,433,393 5,159,035 4,508,117 8,773,145 16,824,783 10,868,853 8,238,935 ENDING FUND BALANCE, Jul 31 4,825,697$ 12,155,810$ 6,743,886$ 11,021,555$ 18,016,007$ 7,782,713$ 8,992,671$ Monthly Financial Report City of Renton, Washington July 2022 Page 5 of 8 ENTERPRISE FUNDS Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises. The table below displays the year-to-date revenues and expenses of the City’s enterprise funds. Amounts restricted for debt service are in accordance with revenue bond requirements. Operating reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021-2022 Adopted Budget. Airport Solid Waste Utility Golf Course Water Utility Wastewater Utility Metro Surface Water Utility REVENUES: Licenses and permits -$ -$ -$ -$ 53,945$ -$ 15,084$ Grants / intergovernmental 5,334 34,783 - - - - 1,035,270 Charges for services 2,013,120 12,508,898 1,725,631 9,411,453 6,740,592 10,891,712 7,555,572 Interdepartmental services - - - - - - - Fines and penalties - - - - 56 - - Rents, leases, and misc fees 19,137 - 263,812 140,712 - - - Interest and other misc 24,289 13,243 230,413 1,097,513 612,461 15,949 1,409,989 TOTAL REVENUES 2,061,880 12,556,924 2,219,856 10,649,678 7,407,054 10,907,661 10,015,915 EXPENSES: Personnel 647,212 300,052 940,032 2,538,884 1,368,634 - 2,243,529 Supplies 49,784 6,869 207,210 557,254 26,254 - 50,844 Contracted Services 307,822 11,102,843 75,034 1,796,912 1,346,893 9,182,717 1,099,086 Internal Services 224,498 182,197 230,330 1,385,442 976,070 - 1,434,739 TOTAL OPERATING EXPENSES 1,229,316 11,591,961 1,452,606 6,278,492 3,717,851 9,182,717 4,828,198 CAPITAL, AND TRANSFERS 832,564 964,963 767,250 4,371,186 3,689,203 1,724,944 5,187,717 DEBT SERVICE: Principal - - 18,349 315,517 - - - Interest - - 908 90,937 39,597 - 48,088 TOTAL DEBT SERVICE - - 19,257 406,454 39,597 - 48,088 CAPITAL OUTLAY 120,997 - 241,476 2,293,261 1,977,957 - 2,418,821 Transfers In - - 118,050 - - - - Transfers Out - - (118,050) - - - - NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 711,567 964,963 506,517 1,671,471 1,671,649 1,724,944 2,720,808 BEGINNING FUND BALANCE, Jan 1 7,741,751 3,392,243 1,222,897 43,849,867 20,788,687 3,764,012 21,682,758 ENDING FUND BALANCE, Jul 31 8,453,318$ 4,357,206$ 1,729,414$ 45,521,338$ 22,460,336$ 5,488,956$ 24,403,566$ Restricted for Debt Service - - - 1,394,050 661,227 - 754,868 Operating Reserve 241,858 400,000 746,233 1,705,875 960,757 380,000 1,190,692 AVAILABLE FUND BALANCE 8,211,460$ 3,957,206$ 983,181$ 42,421,413$ 20,838,352$ 5,108,956$ 22,458,006$ Monthly Financial Report City of Renton, Washington July 2022 Page 6 of 8 INTERNAL SERVICE FUNDS Internal service funds are used to account for the goods and services furnished by one City department to other City departments on a cost reimbursement basis. The table below displays the year-to-date revenues and expenses of the City’s internal service funds. Insurance reserves for the Healthcare Fund are established at a rate of 31% of current year budgeted expenses. 100% of the Retiree Healthcare fund balance is reserved for OPEB. Equipment Rental Insurance Information Technology Facilities Communications Healthcare Retiree Healthcare REVENUES: Technology Fee -$ -$ 163,023$ -$ -$ -$ -$ Charges for services: Equipment rental m&o 1,590,498 - 4,564,374 - - - - Print and mail - - - - 238,304 - - Communications - - - - 448,282 - - Facilities - - - 3,246,827 - - - Interest and other misc 32,266 61,170 13,342 1,914 330 21,063 54,834 Internal service fund misc: Vehicle / equipment capital recovery 1,660,996 - - - - - - Insurance premiums - 1,231,513 - - - - - Worker's comp/unemployment - 889,637 - - - - - Benefit premiums - - - - - 7,371,691 1,312,342 Other misc 1,115 104,843 319 63,211 - 164,388 57,133 Disposal of capital assets 22,430 - - - - - - Insurance recoveries - 33,097 - - - - - TOTAL REVENUES 3,307,305 2,320,260 4,741,058 3,311,952 689,916 7,557,142 1,424,309 EXPENSES: Personnel 647,366 550,430 1,818,022 2,062,321 483,804 6,377,342 719,851 Supplies 996,457 - 911,567 498,992 25,012 1,320 - Contracted Services 166,882 2,159,279 1,581,301 735,805 179,168 264,373 30,513 Internal Services 15,384 - - 65,980 1,017 46,835 - TOTAL OPERATING EXPENSES 1,826,089 2,709,709 4,310,890 3,363,098 689,001 6,689,870 750,364 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,481,216 (389,449) 430,168 (51,146) 915 867,272 673,945 TOTAL DEBT SERVICE - - - - - - - CAPITAL OUTLAY 288,729 - 107,483 15,149 - - - Transfers In - 152,772 2,054,722 11,045 - - - Transfers Out - (51,420) - - - - - NET TRANSFERS - 101,352 2,054,722 11,045 - - - CHANGE IN FUND BALANCE 1,192,487 (288,097) 2,377,407 (55,250) 915 867,272 673,945 BEGINNING FUND BALANCE, Jan 1 10,125,169 20,494,538 3,653,455 785,189 141,517 6,655,137 18,188,260 ENDING FUND BALANCE, Jul 31 11,317,656$ 20,206,441$ 6,030,862$ 729,939$ 142,432$ 7,522,409$ 18,862,205$ Insurance Reserves - 20,206,441 - - - 4,123,049 18,862,205 Opearting Reserves 9,528,855 - 2,068,477 - - - - AVAILABLE FUND BALANCE 1,788,801$ -$ 3,962,385$ 729,939$ 142,432$ 3,399,360$ -$ Monthly Financial Report City of Renton, Washington July 2022 Page 7 of 8 FIDUCIARY FUNDS Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use as they are not City assets. The table below displays year-to-date revenues and expenditures of the City’s fiduciary funds. Firemens' Pension Custodial Fund REVENUES: Intergovernmental 182,841$ -$ Investment Earnings 23,059 - Collected for Others - 1,567,611 TOTAL REVENUES 205,900 1,567,611 EXPENDITURES: Distributions to Others 167,379 755,454 TOTAL EXPENDITURES 132,992 755,454 NET TRANSFERS - - CHANGE IN FUND BALANCE 72,908 812,157 BEGINNING FUND BALANCE, Jan 1 8,371,183 - ENDING FUND BALANCE, Jul 31 8,444,091$ 812,157$ Monthly Financial Report City of Renton, Washington July 2022 Page 8 of 8 CONTACT INFORMATION This report is prepared by the Finance Department. For additional financial information, please also review our website: http://www.rentonwa.gov/. For any questions about the report, please feel free to contact Nate Malone nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov . City of Renton All Funds - Revenue, Expenditures and Fund Balances Budgetary Basis through July 31, 2022 Funds Balance 01/01/2022 Budgeted Revenue Revenue 07/31/22 Total Funds Available Budgeted Expenditure Expenditure 07/31/22 Ending Balance GENERAL FUND 69,102,662 129,187,507 77,484,449 146,587,111 140,345,324 66,608,926 79,978,185 SPECIAL REVENUE FUNDS:7,632,816 4,861,674 8,098,525 15,731,341 5,018,401 6,064,479 9,666,862 110 Hotel Motel 728,421 220,000 251,229 979,650 528,207 143,647 836,003 127 Cable Communication 731,245 57,674 50,082 781,327 427,209 225,660 555,667 130 Housing and Supportive Services 3,171,729 3,490,000 2,453,791 5,625,520 1,710,000 1,500,000 4,125,520 135 Springbrook Wetlands Bank 234,325 - 231,305 465,630 51,000 8,338 457,292 140 Police Seizure 631,525 - 32,398 663,923 631,525 240,275 423,648 141 Police CSAM Seizure 174,826 - 3,003 177,829 174,826 18,311 159,518 31X School District Impact Mitigation 12 995,000 3,931,216 3,931,228 995,000 3,928,248 2,980 304 Fire Mitigation 1,960,733 99,000 1,145,501 3,106,234 500,634 - 3,106,234 DEBT SERVICE FUND 5,218,125 4,533,969 671,762 5,889,887 4,341,920 1,070,441 4,819,446 CAPITAL PROJECT FUNDS (CIP):57,806,261 76,470,659 28,377,603 86,183,864 120,656,684 16,645,525 69,538,339 303 Community Services Mitigation 3,433,393 86,500 1,392,304 4,825,697 3,380,595 - 4,825,697 305 Transportation Mitigation 5,159,035 200,000 6,996,775 12,155,810 3,200,000 - 12,155,810 308 REET1 4,508,117 2,300,000 2,235,769 6,743,886 5,579,996 - 6,743,886 309 REET2 8,773,145 2,300,000 2,248,410 11,021,555 6,921,118 - 11,021,555 316 Municipal Facilities CIP 16,824,783 16,718,087 3,237,609 20,062,392 33,540,353 2,046,385 18,016,007 317 Transportation CIP 10,868,853 42,407,072 6,041,857 16,910,710 50,756,364 9,127,997 7,782,713 336 New Library Development - - - - - - - 346 New Family First Center Dvlpmnt 8,238,935 12,459,000 6,224,879 14,463,814 17,278,258 5,471,143 8,992,671 ENTERPRISE FUNDS:102,442,215 112,854,744 55,937,018 158,379,233 169,256,663 45,965,099 112,414,134 4X2 Airport Operating & CIP 7,741,751 3,281,007 2,061,880 9,803,631 9,243,159 1,350,313 8,453,318 403 Solid Waste Utility 3,392,243 24,133,272 12,556,924 15,949,167 24,924,161 11,591,961 4,357,206 4X4 Golf Operating & CIP 1,222,897 3,428,832 2,337,906 3,560,803 3,655,054 1,831,389 1,729,414 4X5 Water Operating & CIP 43,849,867 19,107,026 10,649,678 54,499,545 49,577,439 8,978,207 45,521,338 4X6 Waste Water Operating & CIP 20,788,687 12,226,713 7,407,054 28,195,741 25,857,830 5,735,405 22,460,336 416 King County Metro 3,764,012 18,495,877 10,907,661 14,671,673 18,495,877 9,182,717 5,488,956 4X7 Surface Water Operating & CIP 21,682,758 32,182,017 10,015,915 31,698,673 37,503,143 7,295,107 24,403,566 INTERNAL SERVICE FUNDS:60,043,265 47,195,487 25,570,481 85,613,746 47,088,138 20,801,802 64,811,944 501 Equipment Repair/Replacement 10,125,169 6,389,905 3,307,305 13,432,474 6,986,219 2,114,818 11,317,656 502 Insurance 20,494,538 4,409,425 2,473,032 22,967,570 4,387,888 2,761,129 20,206,441 503 Information Services 3,653,455 12,077,068 6,795,780 10,449,235 12,666,705 4,418,373 6,030,862 504 Facilities 785,189 6,664,670 3,322,997 4,108,186 6,493,056 3,378,247 729,939 505 Communications 141,517 1,377,535 689,916 831,433 1,358,485 689,001 142,432 512 Insurance, Healthcare 6,655,137 13,566,817 7,557,142 14,212,279 13,743,496 6,689,870 7,522,409 522 Insurance, Leoff1 Retirees HC 18,188,260 2,710,067 1,424,309 19,612,569 1,452,289 750,364 18,862,205 FIDUCIARY FUNDS:8,371,183 290,000 1,773,511 10,144,694 200,475 888,446 9,256,248 611 Firemens' Pension 8,371,183 290,000 205,900 8,577,083 200,475 132,992 8,444,091 630 Custodial Fund - - 1,567,611 1,567,611 - 755,454 812,157 TOTAL FUNDS 310,616,527 375,394,040 197,913,349 508,529,876 486,907,605 158,044,718 350,485,158