HomeMy WebLinkAbout04 2023Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through April 30, 2023.
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 2023-2024 Adopted Budget.
General
REVENUES:
Taxes 36,692,498$
Licenses and permits 2,704,678
Grants / intergovernmental 1,812,686
Charges for services 3,209,744
Fines and penalties 1,298,123
Miscellaneous 780,107
Sale of general fixed assets -
Investment Earnings 797,094
Insurance recoveries 13,470
TOTAL REVENUES 47,308,400
EXPENDITURES:
Personnel 23,598,844
Supplies 688,672
Contracted Services 6,510,233
Principal -
Capital Outlay 68,425
Internal Services 5,122,735
TOTAL EXPENDITURES 35,988,909
Transfers In 33,750
Transfers Out (49,289)
NET TRANSFERS (15,539)
CHANGE IN FUND BALANCE 11,303,952
BEGINNING FUND BALANCE, Jan 1 83,605,978
Prior Period Adjustment 14,796
BEGINNING FUND BALANCE, Jan 1 - restated 83,620,774
ENDING FUND BALANCE, Apr 30 94,924,726$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 10,980,959
AVAILABLE FUND BALANCE, Apr 30 81,443,767$
Monthly Financial Report April 2023
Monthly Financial Report City of Renton, Washington April 2023
Page 2 of 7
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
2023-2024 Adopted Budget.
General
Governmental
Misc Debt
REVENUES:
Grants / intergovernmental 19,159$
Investment Earnings 43,580
TOTAL REVENUES 62,739
EXPENDITURES:
Principal 203,210
Interest 67,876
TOTAL EXPENDITURES 271,086
Transfers In -
NET TRANSFERS -
CHANGE IN FUND BALANCE (208,347)
BEGINNING FUND BALANCE, Jan 1 5,262,665
ENDING FUND BALANCE, Apr 30 5,054,318$
Debt Service Reserve 2,711,725
AVAILABLE FUND BALANCE 2,342,593$
Monthly Financial Report City of Renton, Washington April 2023
Page 3 of 7
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 131,195$ -$ 1,429,273$ -$ -$ -$ -$ -$
Licenses and permits - 14,243 - - - - - -
Charges for services - - - - 25,723 110,177 - -
Fines and penalties - - - - - - - 384
Investment Earnings 6,701 4,033 57,246 3,884 23,255 196 3,017 1,461
TOTAL REVENUES 137,896 18,276 1,486,519 7,895 48,978 110,373 66,028 1,845
EXPENDITURES:
Personnel - - - 3,700 - - - -
Supplies - 40,346 - - - - 448 -
Contracted Services 37,331 16,850 - - - 65,049 14,090 4,544
TOTAL EXPENDITURES 37,331 57,196 - 3,700 - 65,049 14,538 4,544
-
Transfers In - - - - - - - -
Transfers Out - - - - - - - -
NET TRANSFERS - - - - - - - -
CHANGE IN FUND BALANCE 100,565 (38,920) 1,486,519 4,195 48,978 45,324 51,490 (2,699)
BEGINNING FUND BALANCE, Jan 1 712,384 453,147 6,110,390 454,628 2,724,187 - 339,814 172,804
Prior Period Adjustment - - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 712,384 453,147 6,110,390 454,628 2,724,187 - 339,814 172,804
ENDING FUND BALANCE, Apr 30 812,949$ 414,227$ 7,596,909$ 458,823$ 2,773,165$ 45,324$ 391,304$ 170,105$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 697,812$ 697,813$ -$ -$ -$
Grants / intergovernmental - - - - 198,042 3,423,490 20,000
Charges for services 64,719 277,344 - - 5,700 - -
Contributions - - - - 1,000 200,000 -
Investment Earnings 13,768 60,022 27,553 52,827 204,027 125,603 18,841
TOTAL REVENUES 78,487 337,366 725,365 750,640 408,769 3,749,093 38,841
EXPENDITURES:
Personnel - - - - 21,286 22,010 -
Supplies - - - - - 28,455 -
Contracted Services - - - - 82,572 20,225 -
Capital Outlay - - - - 5,420,124 977,579 1,662,331
TOTAL EXPENDITURES - - - - 5,523,982 1,048,269 1,662,331
Transfers In - - - - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 78,487 337,366 725,365 750,640 (5,115,213) 2,700,824 (1,623,490)
BEGINNING FUND BALANCE, Jan 1 1,595,389 6,964,011 3,049,711 6,019,961 24,671,384 12,561,975 2,795,295
Prior Period Adjustment - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 1,595,389 6,964,011 3,049,711 6,019,961 24,671,384 12,561,975 2,795,295
ENDING FUND BALANCE, Apr 30 1,673,876$ 7,301,377$ 3,775,076$ 6,770,601$ 19,556,171$ 15,262,799$ 1,171,805$
Monthly Financial Report City of Renton, Washington April 2023
Page 4 of 7
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 -$ -$ -$ -$ 18,750$ -$ 12,375$
Grants / intergovernmental 29,954 165,834 - 38,125 - - 1,118,823
- - 30,022 - - - -
Charges for services 949,068 7,409,390 690,305 5,211,003 3,935,347 6,606,675 4,410,667
Rents, leases, and misc fees 19,137 - 125,225 123,571 - - -
Interest and other misc 77,761 32,912 16,502 432,571 264,244 52,981 714,638
TOTAL REVENUES 1,075,920 7,608,136 862,054 5,805,270 4,218,341 6,659,656 6,256,503
EXPENSES:
Personnel 374,897 171,128 554,085 1,574,749 788,121 - 1,289,230
Supplies 27,421 6,096 146,038 302,180 57,474 - 44,386
Contracted Services 138,180 7,484,567 49,420 890,708 769,695 6,738,832 447,215
Internal Services 111,424 131,754 117,083 733,827 499,797 - 747,430
TOTAL OPERATING EXPENSES 651,922 7,793,545 866,626 3,501,464 2,115,087 6,738,832 2,528,261
CAPITAL, AND TRANSFERS 423,998 (185,409) (4,572) 2,303,806 2,103,254 (79,176) 3,728,242
DEBT SERVICE:
Principal - - 14,796 - - - -
Interest - - 610 - - - -
TOTAL DEBT SERVICE - - 15,406 - - - -
CAPITAL OUTLAY 152,606 - - 1,491,233 317,628 - 423,711
Transfers In - - 38,750 - - - -
Transfers Out - - (38,750) (861) - - -
NET TRANSFERS - - - (861) - - -
CHANGE IN FUND BALANCE 271,392 (185,409) (19,978) 811,712 1,785,626 (79,176) 3,304,531
BEGINNING FUND BALANCE, Jan 1 8,925,689 3,951,191 1,609,927 48,208,077 22,850,871 6,237,142 28,314,756
ENDING FUND BALANCE, Apr 30 9,197,081$ 3,765,782$ 1,589,949$ 49,019,789$ 24,636,497$ 6,157,966$ 31,619,287$
Restricted for Debt Service 1,930,472 - - 1,394,051 661,227 - 754,868
Operating Reserve 242,677 400,000 718,815 1,723,303 975,361 380,000 1,245,213
AVAILABLE FUND BALANCE 7,023,932$ 3,365,782$ 871,134$ 45,902,435$ 22,999,909$ 5,777,966$ 29,619,206$
Monthly Financial Report City of Renton, Washington April 2023
Page 5 of 7
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 -$ -$ 75,710$ -$ -$ -$ -$
Charges for services:
Equipment rental m&o 831,020 - 1,838,899 - - - -
Print and mail - - - - 127,785 - -
Communications - - - - 270,316 - -
Facilities - - - 1,704,157 - - -
Interest and other misc 113,789 195,647 70,503 6,277 3,261 63,645 169,816
Internal service fund misc:
Vehicle / equipment capital recovery 830,804 - - - - - -
Insurance premiums - 721,044 - - - - -
Worker's comp/unemployment - 563,279 - - - - -
Benefit premiums - - - - - 4,399,138 456,250
Other misc 232 9,912 - 34,254 - 145,209 33,615
Insurance recoveries 28,630 173,209 - - - - -
TOTAL REVENUES 1,804,475 1,663,091 1,985,112 1,744,688 401,362 4,607,992 659,681
EXPENSES:
Personnel 385,767 452,487 1,126,333 1,168,919 311,691 3,838,726 421,346
Supplies 501,254 - 133,028 382,203 14,855 1,375 -
Contracted Services 120,441 980,813 1,083,207 494,505 110,165 173,778 22,418
Internal Services 32,841 - 1,634 68,272 1,174 29,084 -
TOTAL OPERATING EXPENSES 1,040,303 1,433,300 2,344,202 2,113,899 437,885 4,042,963 443,764
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 764,172 229,791 (359,090) (369,211) (36,523) 565,029 215,917
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 811,250 - 888,720 17,160 - - -
Transfers In - - 16,400 - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - 16,400 - - - -
CHANGE IN FUND BALANCE (47,078) 229,791 (1,231,410) (386,371) (36,523) 565,029 215,917
BEGINNING FUND BALANCE, Jan 1 13,277,635 23,221,020 9,021,343 937,922 428,724 6,935,644 19,928,792
ENDING FUND BALANCE, Apr 30 13,230,557$ 23,450,811$ 7,789,933$ 551,551$ 392,201$ 7,500,673$ 20,144,709$
Insurance Reserves - 16,747,439 - - - 4,559,148 20,144,709
Opearting Reserves 13,787,139 - 2,326,091 - - - -
AVAILABLE FUND BALANCE (556,582)$ 6,703,372$ 5,463,842$ 551,551$ 392,201$ 2,941,525$ -$
Monthly Financial Report City of Renton, Washington April 2023
Page 6 of 7
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 -$ -$
Investment Earnings 69,651 -
Collected for Others - 652,746
TOTAL REVENUES 69,651 652,746
EXPENDITURES:
Distributions to Others 130,133 190,998
TOTAL EXPENDITURES 92,246 190,998
NET TRANSFERS - -
CHANGE IN FUND BALANCE (22,595) 461,748
BEGINNING FUND BALANCE, Jan 1 8,733,791 -
ENDING FUND BALANCE, Apr 30 8,711,196$ 461,748$
Monthly Financial Report City of Renton, Washington April 2023
Page 7 of 7
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 April 30, 2023
Funds
Balance
01/01/2022
Budgeted
Revenue
Revenue
04/30/23
Total Funds
Available
Budgeted
Expenditure
Expenditure
04/30/23 Ending Balance
GENERAL FUND 83,605,978 131,681,538 47,356,946 130,962,924 137,261,989 36,038,198 94,924,726
SPECIAL REVENUE FUNDS:10,967,354 5,152,674 1,877,810 12,845,164 8,288,007 182,358 12,662,806
110 Hotel Motel 712,384 200,000 137,896 850,280 454,616 37,331 812,949
127 Cable Communication 453,147 57,674 18,276 471,423 161,586 57,196 414,227
130 Housing and Supportive Services 6,110,390 3,500,000 1,486,519 7,596,909 3,000,000 - 7,596,909
135 Springbrook Wetlands Bank 454,628 - 7,895 462,523 40,000 3,700 458,823
140 Police Seizure 339,814 - 66,028 405,842 339,814 14,538 391,304
141 Police CSAM Seizure 172,804 - 1,845 174,649 172,804 4,544 170,105
31X School District Impact Mitigation - 995,000 110,373 110,373 995,000 65,049 45,324
304 Fire Mitigation 2,724,187 400,000 48,978 2,773,165 3,124,187 - 2,773,165
DEBT SERVICE FUND 5,262,665 5,755,022 62,739 5,325,404 5,565,690 271,086 5,054,318
CAPITAL PROJECT FUNDS (CIP):57,657,726 63,915,506 6,088,561 63,746,287 105,824,795 8,234,582 55,511,705
303 Community Services Mitigation 1,595,389 86,500 78,487 1,673,876 950,000 - 1,673,876
305 Transportation Mitigation 6,964,011 1,780,000 337,366 7,301,377 5,785,897 - 7,301,377
308 REET1 3,049,711 2,300,000 725,365 3,775,076 2,500,000 - 3,775,076
309 REET2 6,019,961 2,300,000 750,640 6,770,601 3,403,625 - 6,770,601
316 Municipal Facilities CIP 24,671,384 11,617,871 408,769 25,080,153 36,191,473 5,523,982 19,556,171
317 Transportation CIP 12,561,975 42,494,135 3,749,093 16,311,068 54,259,973 1,048,269 15,262,799
346 New Family First Center Dvlpmnt 2,795,295 3,337,000 38,841 2,834,136 2,733,827 1,662,331 1,171,805
ENTERPRISE FUNDS:120,097,653 112,126,975 32,524,630 152,622,283 177,396,114 26,635,932 125,986,351
4X2 Airport Operating & CIP 8,925,689 4,531,000 1,075,920 10,001,609 9,531,180 804,528 9,197,081
403 Solid Waste Utility 3,951,191 25,533,751 7,608,136 11,559,327 25,975,969 7,793,545 3,765,782
4X4 Golf Operating & CIP 1,609,927 3,230,125 900,804 2,510,731 3,304,574 920,782 1,589,949
4X5 Water Operating & CIP 48,208,077 20,789,505 5,805,270 54,013,347 52,238,128 4,993,558 49,019,789
4X6 Waste Water Operating & CIP 22,850,871 12,064,965 4,218,341 27,069,212 25,445,102 2,432,715 24,636,497
416 King County Metro 6,237,142 19,358,929 6,659,656 12,896,798 20,173,811 6,738,832 6,157,966
4X7 Surface Water Operating & CIP 28,314,756 26,618,700 6,256,503 34,571,259 40,727,350 2,951,972 31,619,287
INTERNAL SERVICE FUNDS:73,751,080 50,375,743 12,882,801 86,633,881 55,206,020 13,573,446 73,060,435
501 Equipment Repair/Replacement 13,277,635 9,760,394 1,804,475 15,082,110 9,250,890 1,851,553 13,230,557
502 Insurance 23,221,020 4,997,328 1,663,091 24,884,111 6,925,014 1,433,300 23,450,811
503 Information Services 9,021,343 8,804,266 2,001,512 11,022,855 13,697,399 3,232,922 7,789,933
504 Facilities 937,922 7,062,137 1,744,688 2,682,610 7,100,672 2,131,059 551,551
505 Communications 428,724 1,593,402 401,362 830,086 1,665,050 437,885 392,201
512 Insurance, Healthcare 6,935,644 16,123,216 4,607,992 11,543,636 15,197,161 4,042,963 7,500,673
522 Insurance, Leoff1 Retirees HC 19,928,792 2,035,000 659,681 20,588,473 1,369,834 443,764 20,144,709
FIDUCIARY FUNDS:8,733,791 400,000 722,397 9,456,188 253,475 283,244 9,172,944
611 Firemens' Pension 8,733,791 400,000 69,651 8,803,442 253,475 92,246 8,711,196
630 Custodial Fund - - 652,746 652,746 - 190,998 461,748
TOTAL FUNDS 360,076,247 369,407,458 101,515,884 461,592,131 489,796,090 85,218,846 376,373,285