HomeMy WebLinkAboutQUARTER 1 2023Page 1 of 33
OVERVIEW
This quarterly financial report reflects the city’s revenue and expenditures/expenses for the fiscal year through March 31,
2023. A detailed analysis, including current to prior year and budget to actual comparison is included for each city fund.
Excluded from this report are the city’s fiduciary funds as these funds are held on behalf of others and are not available for
city use. Budget figures shown reflect amounts authorized in ORD 6110, which includes the year end budget adjustment
approved May 1, 2023.
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 YTD revenues and expenditures for the General Fund, including comparison to prior
year, comparison to YTD budget amounts, and percentage of annual budget. YTD budget amounts are generally based on
the collection/disbursement patterns for the same period of the preceding two (2) years, with the following exceptions:
property tax revenue budgets are based on the collection patterns over the preceding four (4) years and sales tax revenue
budgets are based on the collection patterns over the preceding five (5) years.
General Fund
YTD
Prior Year YTD YTD Budget % BUDGET
REVENUES
Taxes 18,887,683$ 99,476,943$ 18,744,591$ 20,522,809$ 1,635,126$ 1,778,218$ 20.63%
Licenses & Permits 2,228,173 5,792,660 1,761,842 2,218,372 (9,801)$ 456,530 38.30%
Intergovernmental 1,041,125 9,018,969 1,396,264 1,435,738 394,613$ 39,474 15.92%
Charges for Services 2,277,969 10,901,474 2,710,388 2,800,603 522,634$ 90,215 25.69%
Fines and Penalties 1,060,576 3,841,442 768,430 935,110 (125,466)$ 166,680 24.34%
Miscellaneous 637,074 1,673,835 437,190 1,233,518 596,444$ 796,328 73.69%
Other Financing Sources (Transfer‐In, etc) 8,482 976,216 976,216 48,467 39,985$ (927,749) 4.96%
TOTAL REVENUES 26,141,082 131,681,539 26,794,921 29,194,617 3,053,535 2,399,696 22.17%
EXPENDITURES
City Attorney 646,653 3,227,575 800,162 745,399 (98,746) 54,763 23.09%
Community and Economic Development 2,462,200 14,527,107 4,271,845 2,974,640 (512,440) 1,297,205 20.48%
Council 128,566 743,244 189,712 170,349 (41,783) 19,363 22.92%
Court Services 707,412 3,512,292 860,338 777,128 (69,716) 83,210 22.13%
Equity, Housing, and Human Services 745,567 5,060,611 927,365 590,338 155,229 337,027 11.67%
Executive Services 1,289,834 6,319,430 1,436,628 1,690,364 (400,530) (253,736) 26.75%
Finance 896,508 5,355,521 1,136,404 1,070,014 (173,506) 66,390 19.98%
Human Resources 372,002 1,926,672 443,241 421,288 (49,286) 21,953 21.87%
Parks and Recreation 3,024,716 17,289,056 3,872,779 3,304,003 (279,287) 568,776 19.11%
Police 10,006,985 49,766,333 11,967,462 12,002,819 (1,995,834) (35,357) 24.12%
Public Works 3,597,293 16,922,802 4,161,336 3,966,473 (369,180) 194,863 23.44%
Other Non‐Departmental 1,104,682 12,611,344 1,288,874 663,853 440,829 625,021 5.26%
TOTAL EXPENDITURES 24,982,418 137,261,987 31,356,145 28,376,668 (3,394,250) 2,979,477 20.67%
Change in Fund Balance 1,158,664 (5,580,448) (4,561,224) 817,949 (340,715) 5,379,173 N/A
Beginning Fund Balance 69,102,662 83,605,978 83,605,978 83,605,978 14,503,316 ‐ 100.00%
ENDING FUND BALANCE 70,261,326$ 78,025,530$ 79,044,754$ 84,423,927$ 14,162,601$ 5,379,173$ 108.20%
Operating Reserve 13,994,674 10,980,959 10,980,959 10,980,959
Economic Development Reserve 2,500,000 2,500,000 2,500,000 2,500,000
AVAILABLE FUND BALANCE 53,766,652$ 64,544,571$ 65,563,795$ 70,942,968$
Favorable (Unfavorable)
2022 2023 Variance
YTD Actual Annual Budget YTD Budget YTD Actual
Summary of Sources and Uses
Quarterly Financial Report 1st Quarter 2023
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 2 of 33
GENERAL FUND REVENUES
The following tables provide a more detailed summary of each revenue category within the General Fund. Detailed
explanations have been provided for variances from prior year or YTD budget in excess of $100K. All variances are shown in
a favorable/(unfavorable) format.
TAXES
Property Tax – Property tax collections by King County are above prior year and the YTD budget. The increase over prior
year is because the property tax levy was increased the allowable 1% by state law as well as an additional levy of $1.5M.
Taxes are above the YTD budget due to collections from the prior year levy of 110K, as well as the levy increase due to new
construction.
Local Retail Sales Tax – Local retail sales tax exceeded prior year and YTD budget. The majority of the increase in local retail
sale tax revenues over the prior year is coming from the services, construction, and manufacturing sectors. It is important
to note that sales tax revenues have a two‐month lag between the time of the sale and the city’s receipt of the sale tax
from the State. Please see the March sales tax report for information regarding sales tax figures by industry.
Criminal Justice Sales Tax – Criminal justice sales tax represents a 0.1% sales tax imposed by the county for criminal justice
purposes. The county must share 90% of the revenue collected with all cities and towns in the county on a per capita basis.
The increase in criminal justice sales tax directly relates to the increase in local retail sales tax, as described above.
Natural Gas Use Tax – Natural gas use tax represents a 6% tax on the usage of natural gas within the city that has not
otherwise been subject to city utility tax. The increase over 2023 budget is due to higher than anticipated usage which
fluctuates from year to year and is only paid by a limited number of larger companies.
Admissions Tax – An increase in admission tax over prior year is due to the economic recovery from the pandemic where
many locations remained on limited capacity or were not operating their events in the first quarter of 2022. Admissions tax
is performing higher than budget due to the recent opening of a large new taxpayer in Renton resulting in higher tax
collection.
Utility Tax – Electrical and natural gas are the primary drivers of the increase over prior year and amount above YTD budget
due to increased customer rates coupled with increased utility usage. Rates for utility users beginning January 2023
increased 8.7% for electricity and 6.4% for natural gas. The breakdown of utility tax is as follows:
2022 2023 2023
Actual Budget Actual $ % $ %
Property Tax 1,101,265 1,146,383 1,255,138 153,873 14.0% 108,755 9.5%
Local Retail Sales Tax 8,834,459 8,424,657 9,398,449 563,990 6.4% 973,792 11.6%
State Sales Tax Credit 74,932 72,845 56,793 (18,139) ‐24.2% (16,052) ‐22.0%
Criminal Justice Sales Tax 910,745 737,966 979,863 69,118 7.6% 241,897 32.8%
Natural Gas Use Tax 67,778 61,002 161,387 93,609 138.1% 100,385 164.6%
Admission Tax 32,148 67,203 198,376 166,228 517.1% 131,173 195.2%
Utility Tax 4,720,823 4,473,160 4,963,437 242,614 5.1% 490,277 11.0%
Leasehold Excise Tax 34,443 39,687 44,005 9,562 27.8% 4,318 10.9%
Gambling Excise Tax 651,433 515,048 798,650 147,217 22.6% 283,602 55.1%
B&O Tax 2,459,657 3,206,639 2,666,711 207,054 8.4%(539,928) ‐16.8%
YTD Total 18,887,683$ 18,744,591$ 20,522,809$ 1,635,126$ 8.7% 1,778,218$ 9.5%
Annual Total 102,213,407$ 99,476,943$
Taxes by Type
Revenue
2023 vs. 2022 2023 vs. Budget
Year to Date through March
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 3 of 33
Gambling Excise Tax – Gambling excise tax can fluctuate based on the economy; therefore, budget is established based on
a historical average from prior years. Current year revenue is above budget and prior year due to substantial increases from
the card games tax.
Business and Occupation (B&O) Tax – B&O tax revenues are under budget due to a $1.8M increase in budget from prior
year attributed to the change in tax cap. Actuals from the tax cap increase will not be reflected until later in the year; first
quarter payments primarily relate to prior year previous to tax cap increase. The amount over prior year is due to an
increase in collections which is commensurate with sales tax revenue increases from prior year.
LICENSES & PERMITS
Business Licenses – The increase of business license revenue over budget is due to an increase in collections of businesses
filing their renewals within the first three months of the year in addition to license revenue coming in higher than
anticipated.
Building Permits – Building permits are collected upon permit issuance. Building permit revenue is exceeding budget due to
a general increase in the construction industry, as well as a few larger projects such as the new Sounders facility and the
Wizards of the Coast tenant improvements at the Southport Campus.
INTERGOVERNMENTAL
2022 2023 2023
Tax by Type YTD Actual YTD Budget YTD Actual $ % $ %
Electrical 1,728,402$ 1,657,578$ 1,874,139$ 145,737$ 8.4% $ 216,561 13.1%
Natural Gas 704,189 645,732 862,129 157,940 22.4% 216,397 33.5%
Cell 148,000 127,352 135,161 (12,839) ‐8.7% 7,809 6.1%
Phone 185,776 159,239 151,999 (33,777) ‐18.2% (7,240)‐4.6%
Cable 344,143 397,978 327,550 (16,593) ‐4.8% (70,428)‐17.7%
Garbage 193,942 196,038 172,487 (21,455) ‐11.1% (23,551)‐12.0%
City Utilities 1,416,371 1,289,243 1,439,972 23,601 1.7% 150,729 11.7%
YTD Total 4,720,823$ 4,473,160$ 4,963,437$ 242,614$ 5.1%490,277$ 11.0%
2023 vs. 2022 2023 vs. Budget
2022 2023 2023
Actual Budget Actual $ % $ %
Franchise Fees 424,613 437,814 367,026 (57,587) ‐13.6% (70,788) ‐16.2%
Business Licenses 721,667 596,701 776,625 54,958 7.6% 179,924 30.2%
Animal Licenses 16,720 17,400 17,810 1,090 6.5% 410 2.4%
Building Permits 1,050,867 695,480 1,049,636 (1,231) ‐0.1%354,156 50.9%
ROW/Street Excavation Permits 13,880 14,112 7,190 (6,690) ‐48.2% (6,922) ‐49.1%
Special Event Permits 425 333 85 (340) ‐80.0% (248) ‐74.5%
YTD Total 2,228,173$ 1,761,842$ 2,218,372$ (9,800)$ ‐0.4%456,531$ 25.9%
Annual Total 7,455,983$ 5,792,660$
Year to Date through March
Revenue
2023 vs. 2022 2023 vs. Budget
Licenses & Permits by Type
2022 2023 2023
Actual Budget Actual $ % $ %
State Shared Revenue 988,904 1,002,474$ 1,008,476 19,572$ 2.0% 6,002$ 0.6%
Federal Grants 14,537 153,746 292,588 278,051 1912.7% 138,842 90.3%
State Grants 13,811 120,996 94,762 80,951 586.1%(26,234) ‐21.7%
Local Grants 23,873 119,048 39,912 16,039 67.2%(79,136) ‐66.5%
YTD Total 1,041,125$ 1,396,264$ 1,435,738$ 394,613$ 37.9% 39,474$ 2.8%
Annual Total 17,604,837$ 9,018,969$
Intergovernmental by Type
Revenue
2023 vs. 2022 2023 vs. Budget
Year to Date through March
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 4 of 33
State Shared Revenue – The breakdown of state shared revenue is as follows:
Federal/State/Local Grants – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is
budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires. The variance is largely due to
CDBG Coronavirus grant funds received in 2023.
CHARGES FOR SERVICES
Public Safety Services – The decrease in public safety services from prior year and budget is primarily due to a decrease in
police school resource officers. Only one of three is currently being utilized due to Renton School District slowly restarting
this program after a pause was put on the program during the pandemic. Private security revenue has also contributed to
the decrease due to staffing shortfalls and the need to cover minimum staffing of city operations before contracting officers
for private security opportunities.
Development Services ‐ The increase in development services from prior year and budget is due to an increase in fees for
permits, plan checks, and inspections. A significant project at the cedar river apartments is the primary driver of the
increase due to the assessment of a one‐time fee of $118K in 2023.
Recreation/Farmer’s Market/Events – The increase over prior year and budget is largely due to a significant amount of the
recreation facilities being closed through April of 2022 the decreased revenue in prior years impacts the budget as we
calculate YTD revenues using the two prior year’s average collections. The amount over budget is also partially due to
receiving payment for the SEEK grant of $129K that was not budgeted. As we move through the summer months these
figures should be more consistent with prior year and budget.
Interfund Services – Interfund services revenue increased from prior year is due to the newly created sustainability division
which utility funds are charged for their representative share of expenditures. The amount under the 2023 budget is due to
2022 2023 2023
Tax by Type YTD Actual YTD Budget YTD Actual$%$%
Judicial Contribution 10,776$ 18,752$ 11,239$ 463$ 4.3%(7,513)$ ‐40.1%
Crim Just ‐ Pop 8,919 5,983 9,399 480 5.4% 3,416 57.1%
Crim Just ‐ Spec Prog 31,700 27,481 33,252 1,552 4.9% 5,771 21.0%
Crim Just ‐ One Time ‐ ‐ 44,715 44,715 N/A 44,715 100.0%
State DUI 4,479 5,263 131 (4,348) ‐97.1% (5,132) ‐97.5%
Marijuana Distribution 65,215 49,180 70,255 5,040 7.7% 21,075 42.9%
Liquor Profits 207,761 200,020 205,468 (2,293) ‐1.1%5,448 2.7%
Liquor Excise Tax 180,388 178,778 178,141 (2,247) ‐1.3% (637) ‐0.4%
Fuel Tax 479,666 517,017 455,876 (23,790) ‐5.0% (61,141) ‐11.8%
YTD Total 988,904$ 1,002,474$ 1,008,476$ 19,572$ 2.0%6,002$ 0.6%
2023 vs. 2022 2023 vs. Budget
2022 2023 2023
Actual Budget Actual $ % $ %
Passport Fees 2,695 3,878 2,380 (315) ‐11.7% (1,498) ‐38.6%
Court Services 13,821 189 31,144 17,324 125.3% 30,957 16415.6%
General Government Services 90 ‐ 27 (63) ‐70.4%27 100.0%
Public Safety Services 255,853 379,270 152,812 (103,041) ‐40.3% (226,457) ‐59.7%
Development Services 527,529 476,853 694,314 166,785 31.6% 217,461 45.6%
Transportation Services 275 ‐ 438 163 59.1% 438 100.0%
Social Services 106,235 39,363 63,508 (42,727) ‐40.2%24,145 61.3%
Recreation/Farmer's Market/Events 83,598 69,960 338,885 255,286 305.4% 268,925 384.4%
Interfund Services 1,287,872 1,740,876 1,517,095 229,223 17.8%(223,781) ‐12.9%
YTD Total 2,277,969$ 2,710,388$ 2,800,603$ 522,635$ 22.9% 90,217$ 3.3%
Annual Total 10,101,988$ 10,901,474$
Year to Date through March
Charges for Services by Type
Revenue
2023 vs. 2022 2023 vs. Budget
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 5 of 33
soft capital transfers being based on actual time spent on the projects by personnel within the general fund which are less
than budgeted through March.
FINES AND PENALTIES
Photo Enforcement Program – Photo enforcement is currently over the 2023 budget due to an increase in collections of
prior fines as the city has contracted with a new collections company and has seen a significant increase.
MISCELLANEOUS REVENUES
Interest and Other Investment Earnings – Investment earnings have varied over the past couple of years as the market has
seen uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds
rate, and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government
Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or
increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.
Rents, Leases, and Concessions – Rents, leases, and concessions revenues are currently over the 2023 budget due to the
timing of rents received by the Coulon food concessionaire for their 2022 annual payment ($197K).
OTHER FINANCING SOURCES
Transfers from Other Funds – The amount under budget is due to the timing of budgeted transfers. Annual transfers occur
in December each year.
2022 2023 2023
ActualBudgetActual$%$%
Civil Penalties 69,603$ 77,215$ 54,273$ (15,331)$ ‐22.0% (22,943)$ ‐29.7%
Photo Enforcement Program 931,707 638,524 836,407 (95,300) ‐10.2%197,883 31.0%
Criminal Traffic Misdemeanor Fines 9,133 12,696 6,275 (2,858) ‐31.3% (6,422) ‐50.6%
Criminal Non‐Traffic Fines 1,375 2,239 1,324 (50) ‐3.7% (915) ‐40.8%
Criminal Costs 8,625 13,517 6,651 (1,974) ‐22.9% (6,866) ‐50.8%
Non‐Court Fines, Forfeitures and Penalties 40,133 24,239 30,180 (9,953) ‐24.8%5,942 24.5%
YTD Total 1,060,576$ 768,430$ 935,110$ (125,466)$ ‐11.8%166,679$ 21.7%
Annual Total 4,142,205$ 3,841,442$
Year to Date through March
Revenue
2023 vs. 2022 2023 vs. Budget
Fines and Penalties by Type
2022 2023 2023
Actual Budget Actual $ % $ %
Interest and Other Investment Earnings 66,687$ 37,182$ 552,397$ 485,710$ 728.3% 515,215$ 1385.7%
Rents, Leases, and Concessions 516,213 376,430 582,812 66,599 12.9% 206,382 54.8%
Contributions/Donations from Private Source s 11,760 3,080 13,331 1,571 13.4% 10,251 332.8%
Other 42,414 20,498 84,978 42,564 100.4% 64,480 314.6%
YTD Total 637,074$ 437,190$ 1,233,518$ 596,444$ 93.6% 796,328$ 182.1%
Annual Total 2,914,453$ 1,673,835$
Miscellaneous by Type
Year to Date through March
Revenue
2023 vs. 2022 2023 vs. Budget
2022 2023 2023
Actual Budget Actual $ % $ %
Transfers from Other Funds ‐$ 930,000$ 33,750$ 33,750 100.0%(896,250) ‐96.4%
Interfund Loan Payment Received 3,851 46,216 11,092 7,241 188.0%(35,124) ‐76.0%
Insurance Recoveries 2,631 ‐ 3,625 994 37.8% 3,625 100.0%
Sale of Capital Assets 2,000 ‐ ‐ (2,000) 0.0%‐ N/A
YTD Total 8,482$ 976,216$ 48,467$ 39,985$ 471.4%(927,749)$ ‐95.0%
Annual Total (80,254)$ 976,216$
Revenue
2023 vs. 2022 2023 vs. Budget
Year to Date through March
Other Financing Sources by Type
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 6 of 33
GENERAL FUND EXPENDITURES
The following tables summarize expenditures by category for each department within the General Fund.
Personnel – Personnel costs are budgeted at 100% of the position cost each year resulting in a budget variance if positions
remain open for any part of the year. The increase in personnel costs over prior year is due to filling positions that were
previously held vacant in 2022 as well as cost of living adjustments. Personnel costs under budget is due to open positions;
there are currently 71 vacancies as of March 31st.
Supplies – The amount over the year‐to‐date budget for 2023 is due to the following:
Signal supplies for damaged traffic signals (41K); these are typically reimbursed by insurance if they are due to
damage from a third party;
Snow and ice supplies for de‐icer related to weather conditions in January and February ($30K);
Police SWAT supplies, opioid overdose supply kits and radar purchase ($31K);
Police donation of Kia and Hyundai wheel lock systems; a revenue and expenditure are recognized for the donation
and subsequent pass through to the public ($29K).
Contracted Services ‐ The increase in contracted services over prior year is due to the following:
Increase in jail services due to timing of billing, in 2022 only two months were paid through Q1 and in 2023 three
months have been paid ($428K);
Increase in Valley Communications (911 call center) costs of approximately $83K due to a contractual increase in
the city’s share of Valley Communications costs;
Increase due to the timing of election costs in 2023 which have typically not been paid until later in the year
($233K)
The amount under budget is primarily driven by the following:
Human Services of $232K allocated for housing repair currently unspent;
Economic development contracted services and professional services budget of $826K that is currently unspent
including Downtown Partnership, Shop Local program, as well unspent grant funds, these amounts are anticipated
to be spent throughout the remainder of the year;
Annual reserve budget of $1.8M of which $450K is budgeted year‐to‐date.
These budget savings were partially offset by the following:
Election costs ($233K) due to invoice timing when compared to prior years’;
Police SCORE coming in $235K higher than year‐to‐date budget due to invoice timing in prior years being paid later
in the year.
Debt Service – The decrease from prior year is due to the issuance of an interfund loan from the general fund to the
Maplewood golf course to fund the purchase of golf carts in 2022, a one‐time activity.
Internal Services – The amount increased from prior year is primarily driven by personnel costs.
General Fund
Summary of Uses 2022
Year to Date through March YTD Actual YTD Budget YTD Actual $%$%
Personnel 15,840,587$ 19,932,466$ 17,757,816$ (1,917,229)$ ‐12.1% 2,174,650$ 10.9%
Supplies 374,595 309,865 430,373 (55,778) ‐14.9%(120,508) ‐38.9%
Contracted Services 4,205,540 5,815,746 4,970,436 (764,896) ‐18.2% 845,310 14.5%
Capital Outlay 16,190 126,096 46,017 (29,827) ‐184.2% 80,079 63.5%
Debt Service 225,309 ‐ ‐ 225,309 100.0%‐ 0.0%
Internal Services 4,318,787 5,122,684 5,122,737 (803,950) ‐18.6%(53) 0.0%
Transfers Out 1,410 49,289 49,289 (47,879) ‐3395.7%‐ 0.0%
Total Expenditures 24,982,418 31,356,145 28,376,668 (3,394,250) ‐13.6% 2,979,477 9.5%
Annual Total 130,113,119 137,261,987
2023 2023 vs. 2022 2023 vs. Budget
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 7 of 33
DEBT SERVICE FUNDS
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. YTD budgets are not prepared for debt service funds.
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT FUND
The General Governmental Miscellaneous Debt Fund is the only debt service fund maintained by the city.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 39,170$ 19,159$ 19,159$ (20,011)$ 48.91%
Investment Earnings 3,877 ‐ 30,392 26,515 30,392 N/A
TOTAL REVENUES 3,877 39,170 49,551 45,674 10,381 126.50%
EXPENDITURES:
Principal 195,873 4,453,189 203,210 (7,337) 4,249,979 4.56%
Interest 78,674 1,112,501 67,876 10,798 1,044,625 6.10%
TOTAL EXPENDITURES 274,547 5,565,690 271,086 3,461 5,294,604 4.87%
Transfers In ‐ 5,715,852 ‐ ‐ (5,715,852) 0.00%
NET TRANSFERS ‐ 5,715,852 ‐ ‐ (5,715,852) 0.00%
CHANGE IN FUND BALANCE (270,671) 189,332 (221,535) 49,136 (410,867) ‐117.01%
BEGINNING FUND BALANCE, Jan 1 5,218,125 5,262,665 5,262,665 44,540 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 4,947,454$ 5,451,997$ 5,041,130$ 93,676$ (410,867)$ 92.46%
Debt Service Reserve 2,717,575 2,717,575 2,717,575
AVAILABLE FUND BALANCE 2,229,879$ 2,734,422$ 2,323,555$
VARIANCE
FAVORABLE (UNFAVORABLE)
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 8 of 33
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. YTD budgets are not prepared for special revenue funds. Detailed explanations will be provided for
material differences between prior year and or budgeted amounts.
Hotel/Motel Fund
The Hotel/Motel Fund accounts for monies collected through an increase of 1% in hotel/motel taxes for the purpose of
increasing tourism in the City of Renton, as authorized under RCW 67.28.180. The Lodging Tax Advisory Committee solicits
applications for awards and brings their recommendations to Council for approval at least once per year. Awards for events
are paid to applicants at the conclusion of the event once certain reporting requirements have been met.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 99,262$ 200,000$ 95,819$ (3,443)$ (104,181)$ 47.91%
Contributions ‐ ‐ ‐ ‐ ‐ N/A
Investment Earnings 579 ‐ 4,642 4,063 4,642 N/A
TOTAL REVENUES 99,841 200,000 100,461 620 (99,539) 50.23%
EXPENDITURES:
Contracted Services 53,048 424,616 31,752 21,296 392,864 7.48%
TOTAL EXPENDITURES 53,048 424,616 31,752 21,296 392,864 7.48%
Transfers Out ‐ (30,000) ‐ ‐ ‐ N/A
NET TRANSFERS ‐ (30,000) ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 46,793 (254,616) 68,709 21,916 323,325 ‐26.99%
BEGINNING FUND BALANCE, Jan 1 728,421 712,384 712,384 (16,037) ‐ 97.80%
ENDING FUND BALANCE, Mar 31 775,214$ 457,768$ 781,093$ 5,879$ 323,325$ 100.76%
VARIANCE
FAVORABLE (UNFAVORABLE)
HOTEL/MOTEL
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 9 of 33
Cable Communications Fund
The Cable Communications Fund accounts for funding for promotion and development of cable communications as
established by city ordinance. The main use of the fund is to support the broadcasting of City Council meetings on Channel
21.
Housing & Supportive Services
In accordance with HB 1590, the City Council passed ORD 5983 authorizing an additional 0.1% sales and use tax, effective
January 1, 2021. The additional sales and use tax is restricted for housing and related services, in accordance with RCW
82.14.530.
Taxes – Taxes have exceeded prior year and are currently on track to exceed the annual budget. This tax revenue will
increase or decrease with the economy as it is a direct sales tax upon consumer purchases.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 16,598$ 57,674$ 14,244$ (2,354)$ (43,430)$ 24.70%
Investment Earnings 565 ‐ 2,795 2,230 2,795 N/A
TOTAL REVENUES 17,163 57,674 17,039 (124) (40,635) 29.54%
EXPENDITURES:
Supplies 6,205 70,214 1,426 (4,779) 68,788 2.03%
Contracted Services 1,930 51,372 8,662 6,732 42,710 16.86%
Capital Outlay ‐ 40,000 ‐ ‐ 40,000 0.00%
TOTAL EXPENDITURES 8,135 161,586 10,088 1,953 151,498 6.24%
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 9,028 (103,912) 6,951 (2,077) 110,863 N/A
BEGINNING FUND BALANCE, Jan 1 731,245 453,147 453,147 (278,098) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 740,273$ 349,235$ 460,098$ (280,175)$ 110,863$ 131.74%
CABLE COMMUNICATIONS
VARIANCE
FAVORABLE (UNFAVORABLE)
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 1,017,318$ 3,500,000$ 1,099,368$ 82,050$ (2,400,632)$ 31.41%
Investment Earnings 2,675 ‐ 38,279 35,604 38,279 N/A
TOTAL REVENUES 1,019,993 3,500,000 1,137,647 117,654 (2,362,353) 32.50%
EXPENDITURES:
Contracted Services ‐ ‐ ‐ ‐ ‐ N/A
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ (3,000,000) ‐ ‐ ‐ N/A
NET TRANSFERS ‐ (3,000,000) ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 1,019,993 500,000 1,137,647 117,654 637,647 227.53%
BEGINNING FUND BALANCE, Jan 1 3,171,729 6,110,390 6,110,390 2,938,661 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 4,191,722$ 6,610,390$ 7,248,037$ 3,056,315$ 637,647$ 109.65%
HOUSING & SUPPORTIVE SERVICES
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 10 of 33
Springbrook Wetlands Fund
The Springbrook Wetlands Fund was established in 2007 for the purpose of providing accounting for the Springbrook Creek
Wetland and Habitat Mitigation Bank project. The proceeds of selling wetlands credits will be used to fund the ongoing
maintenance of the wetland in perpetuity.
Police Seizure Fund
The Police Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the
accounting for assets seized by Police in accordance with RCW 9A.83.030 and 69.50.505, previously accounted for within
the General Fund. These seizure funds are restricted to use exclusively for the expansion and improvement of controlled
substances related law enforcement activity. The total fund balance remaining at the end of the year is budgeted in full the
following year.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Investment Earnings 177$ ‐$ 2,685$ 2,508$ 2,685$ N/A
Sale of credits ‐ ‐ ‐ ‐ ‐ N/A
TOTAL REVENUES 177 ‐ 6,696 6,519 6,696 N/A
EXPENDITURES:
Personnel 1,610 ‐ 2,997 (1,387) (2,997) N/A
Contracted Services 358 40,000 ‐ 358 40,000 0.00%
TOTAL EXPENDITURES 1,968 40,000 2,997 (1,029) 37,003 7.49%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE (1,791) (40,000) 3,699 5,490 43,699 N/A
BEGINNING FUND BALANCE, Jan 1 234,325 454,628 454,628 220,303 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 232,534$ 414,628$ 458,327$ 225,793$ 43,699$ 110.54%
SPRINGBROOK WETLANDS
VARIANCE
FAVORABLE (UNFAVORABLE)
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Contributions 1,881$ ‐$ 63,010$ 61,129$ 63,010$ N/A
Investment Earnings 459 ‐ 1,980 1,521 1,980 N/A
TOTAL REVENUES 2,340 ‐ 64,990 62,650 64,990 N/A
EXPENDITURES:
Supplies 41,304 339,814 448 (40,856) 339,366 0.13%
Contracted Services 52,409 ‐ 14,090 (38,319) (14,090) N/A
Capital Outlay 75,622 ‐ ‐ (75,622) ‐ N/A
TOTAL EXPENDITURES 169,335 339,814 14,538 (154,797) 325,276 4.28%
Transfers Out ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE (166,995) (339,814) 50,452 217,447 390,266 N/A
BEGINNING FUND BALANCE, Jan 1 631,525 339,814 339,814 (291,711) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 464,530$ ‐$ 390,266$ (74,264)$ 390,266$ N/A
POLICE SEIZURE
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 11 of 33
Police CSAM Seizure Fund
The Police CSAM Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the
accounting for assets seized by Police in accordance with RCW 9A.88.150, previously accounted for within the General
Fund. These seizure funds are restricted to the exclusive use of enforcing the provisions of chapter 9A.88 RCW, Indecent
Exposure‐Prostitution, or chapter 9.68A RCW, Sexual Exploitation of Children.
Fire Impact Mitigation Fund
This fund accounts for fire impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are
used to offset the cost of system improvements necessary to serve the new development. Impact fees are held in this fund
and subsequently transferred to the debt service fund to support the debt service on fire station 13. Once the debt on the
fire station is repaid, the remaining collections will be disbursed to the Renton Regional Fire Authority for use on qualifying
capital projects.
Charges for services ‐ The decrease in charges for services is primarily due to a one‐time collection in 2022 for a building
permit issued for a conversion for King County Health Through Housing improvements.
Transfers Out – The amount budgeted as a transfer out represents the final debt payoff approved for the Fire Station 13
intergovernmental debt with King County.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Fines and penalties 1,347$ ‐$ 384$ (963)$ 384$ N/A
Investment Earnings 133 ‐ 1,017 884 1,017 N/A
TOTAL REVENUES 1,480 ‐ 1,401 (79) 1,401 N/A
EXPENDITURES:
Contracted Services ‐ 172,804 4,544 4,544 (168,261) 2.63%
Capital Outlay ‐ ‐ ‐ ‐ ‐ N/A
TOTAL EXPENDITURES ‐ 172,804 4,544 4,544 168,260 2.63%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 1,480 (172,804) (3,143) (4,623) 169,661 N/A
BEGINNING FUND BALANCE, Jan 1 174,826 172,804 172,804 (2,022) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 176,306$ ‐$ 169,661$ (6,645)$ 169,661$ N/A
POLICE CSAM SEIZURE
VARIANCE
FAVORABLE (UNFAVORABLE)
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 139,980$ 400,000$ 15,786$ (124,194)$ (384,214)$ 3.95%
Investment Earnings 1,529 ‐ 16,046 14,517 16,046 N/A
TOTAL REVENUES 141,509 400,000 31,832 (109,677) (368,168) 7.96%
EXPENDITURES:
Contracted Services ‐ 528,810 ‐ ‐ (528,810) 0.00%
TOTAL EXPENDITURES ‐ 528,810 ‐ ‐ 528,810 0.00%
Transfers Out ‐ (2,595,377) ‐ ‐ (2,595,377) 0.00%
NET TRANSFERS ‐ (2,595,377) ‐ ‐ 2,595,377 0.00%
CHANGE IN FUND BALANCE 141,509 (2,724,187) 31,832 (109,677) 2,756,019 ‐1.17%
BEGINNING FUND BALANCE, Jan 1 1,960,733 2,724,187 2,724,187 763,454 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 2,102,242$ ‐$ 2,756,019$ 653,777$ 2,756,019$ N/A
FIRE IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 12 of 33
School District Impact Mitigation
This fund accounts for school district impact fees collected from developers as authorized under RCW 82.02.050‐.110.
These fees are used to help offset the cost of system improvements necessary to service the new development. Impact fees
are held in this fund and subsequently transferred to the Kent, Issaquah, or Renton School District for use on qualifying
capital projects.
Charges for services – Charges for services have decreased from prior year and are behind the expected budget percentage
through March. The impact fee revenues are collected from developers and may significantly fluctuate year to year based
on the development projects around the city.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 139,636$ 995,000$ 64,974$ (74,662)$ (930,026)$ 6.53%
Investment Earnings 37 ‐ 132 95 132 N/A
TOTAL REVENUES 139,673 995,000 65,106 (74,567) (929,894) 6.54%
EXPENDITURES:
Contracted Services 100,647 995,000 40,716 (59,931) 954,284 4.09%
TOTAL EXPENDITURES 100,647 995,000 40,716 (59,931) 954,284 4.09%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 39,026 ‐ 24,390 (14,636) 24,390 N/A
BEGINNING FUND BALANCE, Jan 1 12 ‐ ‐ (12) ‐ N/A
ENDING FUND BALANCE, Mar 31 39,038$ ‐$ 24,390$ (14,648)$ 24,390$ N/A
SCHOOL DISTRICT IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 13 of 33
CAPITAL PROJECT FUNDS
Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. YTD
budgets are not prepared for capital project funds. Project budgets are adopted when funding is secured, and balances are
carried forward each year until they are either 1) fully spent or 2) reallocated to another project through the budget
adjustment process. Detailed explanations will be provided for material differences between prior year and or budgeted
amounts.
Community Services Impact Mitigation Fund
This fund accounts for park impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are
used to help offset the cost of system improvements necessary to service the new development. Impact fees are held in
this fund and subsequently transferred to the Municipal Facilities CIP Fund when qualifying capital projects are budgeted.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 64,747$ 86,500$ 48,337$ (16,410)$ (38,163)$ 55.88%
Investment Earnings 2,621 ‐ 9,448 6,827 9,448 N/A
TOTAL REVENUES 67,368 86,500 57,785 (9,583) (28,715) 66.80%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ (950,000) ‐ ‐ (950,000) 0.00%
NET TRANSFERS ‐ (950,000) ‐ ‐ 950,000 0.00%
CHANGE IN FUND BALANCE 67,368 (863,500) 57,785 (9,583) 921,285 ‐6.69%
BEGINNING FUND BALANCE, Jan 1 3,433,393 1,595,389 1,595,389 (1,838,004) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 3,500,761$ 731,889$ 1,653,174$ (1,847,587)$ 921,285$ 225.88%
COMMUNITY SERVICES IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 14 of 33
Transportation Impact Mitigation Fund
This fund accounts for transportation impact fees collected from developers as authorized under RCW 82.02.050‐.110.
These fees are used to offset the cost of system improvements necessary to serve the new development. Impact fees are
held in this fund and subsequently transferred to the Capital Improvement Fund when qualifying projects are budgeted.
Charges for Services – The decrease in charges for services is primarily due to decreased impact fees as large one‐time
project payments were received in Q1 2022 for the King County administration building and Solera projects.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 1,941,631$ 1,780,000$ 162,456$ (1,779,175)$ (1,617,544)$ 9.13%
Investment Earnings 4,619 ‐ 41,278 36,659 41,278 N/A
TOTAL REVENUES 1,946,250 1,780,000 203,734 (1,742,515) (1,576,266) 11.45%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ (5,785,897) ‐ ‐ (5,785,897) 0.00%
NET TRANSFERS ‐ (5,785,897) ‐ ‐ (5,785,897) 0.00%
CHANGE IN FUND BALANCE 1,946,250 (4,005,897) 203,734 (1,742,516) 4,209,631 N/A
BEGINNING FUND BALANCE, Jan 1 5,159,035 6,964,011 6,964,011 1,804,976 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 7,105,285$ 2,958,114$ 7,167,745$ 62,460$ 4,209,631$ 242.31%
TRANSPORTATION IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 15 of 33
REET 1 Fund
This fund was established in the 2nd quarter of 2020 to account for the first quarter percent of real estate excise tax (REET)
levied in accordance with RCW 82.46.010. The tax may be used for eligible capital projects, as defined in RCW.82.46.010(6),
that are included in the capital facilities element of the city’s comprehensive plan. REET 1 tax revenues are held in this fund
and subsequently transferred to the appropriate capital project fund when qualifying projects are budgeted.
Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high
levels in 2022. As interest rates rise, we may continue to see some impact on real estate excise taxes.
REET 2 Fund
This fund was established in the 2nd quarter of 2020 to account for the second quarter percent of real estate excise tax
(REET) levied in accordance with RCW 82.46.035. The tax may be used for eligible capital projects, as defined in
RCW.82.46.035(5), that are included in the capital facilities element of the city’s comprehensive plan. REET 2 tax revenues
are held in this fund and subsequently transferred to the appropriate capital project fund when qualifying projects are
budgeted.
Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high
levels in 2022. As interest rates rise, we may continue to see some impact on real estate excise taxes budget.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 702,522$ 2,300,000$ 382,428$ (320,094)$ (1,917,572)$ 16.63%
Investment Earnings 3,600 ‐ 18,531 14,931 18,531 N/A
TOTAL REVENUES 706,122 2,300,000 400,959 (305,163) (1,899,041) 17.43%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ (2,500,000) ‐ ‐ (2,500,000) 0.00%
NET TRANSFERS ‐ (2,500,000) ‐ ‐ 2,500,000 0.00%
CHANGE IN FUND BALANCE 706,122 (200,000) 400,959 (305,163) 600,959 ‐200.48%
BEGINNING FUND BALANCE, Jan 1 4,508,117 3,049,711 3,049,711 (1,458,406) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 5,214,239$ 2,849,711$ 3,450,670$ (1,763,569)$ 600,959$ 121.09%
REET 1
VARIANCE
FAVORABLE (UNFAVORABLE)
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 702,522$ 2,300,000$ 382,429$ (320,093)$ (1,917,571)$ 16.63%
Investment Earnings 6,838 ‐ 35,991 29,153 35,991 N/A
TOTAL REVENUES 709,360 2,300,000 418,420 (290,940) (1,881,580) 18.19%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ (3,403,625) ‐ ‐ (3,403,625) 0.00%
NET TRANSFERS ‐ (3,403,625) ‐ ‐ 3,403,625 0.00%
CHANGE IN FUND BALANCE 709,360 (1,103,625) 418,420 (290,940) 1,522,045 ‐37.91%
BEGINNING FUND BALANCE, Jan 1 8,773,145 6,019,961 6,019,961 (2,753,184) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 9,482,505$ 4,916,336$ 6,438,381$ (3,044,124)$ 1,522,045$ 130.96%
REET 2
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 16 of 33
Municipal Facilities CIP Fund
This fund accounts for general governmental facility construction, improvement, and renovation; property acquisitions for
parks and city space needs; parks development and equipment; and major maintenance of existing general governmental
assets. Transportation capital improvements are accounted for in a separate fund.
Grants/intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is
budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires. The increase from prior year is
largely due to receiving grant funds for work performed on the Coulon Trestle Bridge Project.
Investment Earnings – Investment earnings have varied over the past couple of years as the market has seen uncertainty
with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate, and we may
continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government Investment Pool
(LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or increases; the city
holds roughly 55% of the total cash and investments for the city in the LGIP.
Contracted Services – Contracted services are largely project driven and are dependent on the project timeline. The large
amount budgeted and unspent in 2023 is primarily related to the Pavilion remodel project ($2.5M).
Capital Outlay – Capital outlay fluctuates greatly with capital project schedules and contractor’s billings. A significant
number of projects began in late 2022, and it is anticipated significant capital outlay will be spent in early 2023. The largest
YTD expenditures include Kiwanis Park ($930K), Park Avenue N Acquisition ($430K), and Parks major maintenance projects
and playground replacements ($406K).
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 3,360,871$ 198,042$ 198,042$ (3,162,829)$ 5.89%
Contributions ‐ ‐ 1,000 1,000 1,000 N/A
Investment Earnings 12,633 ‐ 147,034 134,401 147,034 N/A
TOTAL REVENUES 12,633 3,360,871 346,076 333,443 (3,014,795) 10.30%
EXPENDITURES:
Personnel 102,611 ‐ 19,492 (83,119) (19,492) N/A
Contracted Services 28,359 3,390,580 68,578 40,219 3,322,002 2.02%
Capital Outlay 786,776 32,750,893 3,184,273 2,397,497 29,566,620 9.72%
TOTAL EXPENDITURES 917,746 36,141,473 3,272,343 2,354,597 32,869,130 9.05%
Transfers In ‐ 8,257,000 ‐ ‐ (8,257,000) 0.00%
Transfers Out ‐ (50,000) ‐ ‐ (50,000) N/A
NET TRANSFERS ‐ 8,207,000 ‐ ‐ (8,207,000) 0.00%
CHANGE IN FUND BALANCE (905,113) (24,573,602) (2,926,267) (2,021,154) 21,647,335 11.91%
BEGINNING FUND BALANCE, Jan 1 16,824,783 24,671,384 24,671,384 7,846,601 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 15,919,670$ 97,782$ 21,745,117$ 5,825,447$ 21,647,335$ 22238.36%
MUNICIPAL FACILITIES CIP
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 17 of 33
Capital Improvement Fund
This fund accounts for the city’s transportation capital projects. Capital projects are budgeted in their entirety at the
inception of the project; funds are spent as the project progresses and may span over multiple years.
Grants/Intergovernmental– Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is
budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires. The increase from prior year
largely relates to the timing of revenue recognition of grant revenue from the Wells & Williams project received in 2023.
Contributions – The amount over prior year is due to the contribution from a WSDOT contractor for the Gateway
Enhancement Project received in 2023.
Capital Outlay – Decrease in capital outlay expenditures from prior year is due to large ongoing projects reaching significant
completion dates. Largest decreases include Rainier Phase 4 which incurred significant easement and right‐of‐way
expenditures at the beginning of 2022, Duvall Ave project which is nearing completion, and Lake Washington Loop Trail
which was significantly completed in 2022.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 2,862,103$ 34,296,238$ 3,354,655$ 492,552$ (30,941,583)$ 9.78%
Fines and penalties (10) ‐ ‐ 10 ‐ N/A
Contributions ‐ 200,000 200,000 200,000 ‐ 100.00%
Investment Earnings 8,595 ‐ 85,039 76,444 85,039 N/A
TOTAL REVENUES 2,870,688 34,496,238 3,639,694 769,006 (30,856,544) 10.55%
EXPENDITURES:
Personnel 10,352 14,491 5,865 (4,487) 8,626 40.47%
Supplies ‐ 30,000 ‐ ‐ 30,000 0.00%
Contracted Services 7,057 534,355 19,203 12,146 515,152 3.59%
Capital Outlay 4,528,166 53,681,127 737,555 (3,790,611) 52,943,572 1.37%
Internal Services 14,000 ‐ 13,250 (750) 13,250 N/A
TOTAL EXPENDITURES 4,559,575 54,259,973 775,873 (3,783,702) 53,510,600 1.43%
Transfers In ‐ 7,997,897 ‐ ‐ (7,997,897) 0.00%
Transfers Out ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ 7,997,897 ‐ ‐ (7,997,897) 0.00%
CHANGE IN FUND BALANCE (1,688,887) (11,765,838) 2,863,821 4,552,708 14,629,659 N/A
BEGINNING FUND BALANCE, Jan 1 10,868,853 12,561,975 12,561,975 1,693,122 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 9,179,966$ 796,137$ 15,425,796$ 6,245,830$ 14,629,659$ 1937.58%
CAPITAL IMPROVEMENT
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 18 of 33
Family First Center Fund
This fund is used to account for the construction of the new Family First Center. Funds accumulated for the construction of
the Family First Center are maintained in the fund balance until such time that Council authorizes their use through the
approval of contracts and additional project budget is established through the budget adjustment process.
Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is
budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires. The majority of the expected
grant revenue was received in 2022.
Contributions – The remaining contributions budgeted amount is anticipated to be received in the next quarter as the
project closes out and final contribution payments are made.
Capital Outlay – Increase from prior year is due to the project timeline, the project is nearing completion and is expected to
open in June to the public.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 1,454,850$ 20,000$ 20,000$ (1,434,850)$ ‐$ 100.00%
Contributions ‐ 3,317,000 ‐ ‐ (3,317,000) 0.00%
Investment Earnings 6,432 ‐ 15,489 9,057 15,489 N/A
TOTAL REVENUES 1,461,282 3,337,000 35,489 (1,425,793) (3,301,511) 1.06%
EXPENDITURES:
Contracted Services 20,316 ‐ ‐ (20,316) ‐ N/A
Capital Outlay 1,196,019 2,733,827 1,545,399 349,380 1,188,428 56.53%
TOTAL EXPENDITURES 1,216,335 2,733,827 1,545,399 329,064 1,188,428 56.53%
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 244,947 603,173 (1,509,910) (1,754,857) (2,113,083) ‐250.33%
BEGINNING FUND BALANCE, Jan 1 8,238,935 2,795,295 2,795,295 (5,443,640) ‐ 100.00%
ENDING FUND BALANCE, Mar 31 8,483,882$ 3,398,468$ 1,285,385$ (7,198,497)$ (2,113,083)$ 37.82%
FAMILY FIRST CENTER
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 19 of 33
ENTERPRISE FUNDS
Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business
enterprises. YTD budgets are not prepared for Enterprise Funds.
Most Enterprise Funds maintain two separate “management funds”, an operating fund and a capital fund. The funds are
consolidated for budget/reporting purposes. Operating budgets lapse at the end of the year. Project budgets are adopted
when funding is secured, and balances are carried forward each year until they are either 1) fully spent or 2) reallocated to
another project through the budget adjustment process. Detailed explanations will be provided for material differences
between prior year and or budgeted amounts.
Airport Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the Renton Municipal Airport.
Capital Outlay‐ The increase from prior year is due to work on the airport office rehabilitation project in 2023. The amount
under budget is due to several large projects delayed, including $2.7M for Airport Office Rehabilitation and $1.3M for
Taxiway Alpha Rehabilitation.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 2,862$ 171,711$ 29,954$ 27,092$ (141,757)$ 17.44%
Charges for services 957,259 4,355,432 867,533 (89,726) (3,487,899) 19.92%
Interest and other misc 6,056 3,857 53,640 47,584 49,783 1390.72%
TOTAL REVENUES 966,177 4,531,000 951,127 (15,050) (3,579,873) 20.99%
EXPENSES:
Personnel 272,326 1,457,417 282,708 (10,382) 1,174,709 19.40%
Supplies 32,414 47,630 20,627 11,787 27,003 43.31%
Contracted Services 168,689 476,024 90,163 78,526 385,861 18.94%
Internal Services 100,489 445,696 111,424 (10,935) 334,272 25.00%
TOTAL OPERATING EXPENSES 573,918 2,426,767 504,922 68,996 1,921,845 20.81%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 392,259 2,104,233 446,205 53,946 (1,658,028) 21.21%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 2,697 7,104,413 152,506 (149,809) 6,951,907 2.15%
TRANSFERS OUT ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 389,562 (5,000,180) 293,699 (95,863) 5,293,879 N/A
BEGINNING FUND BALANCE, Jan 1 7,741,751 8,925,690 8,925,690 1,183,939 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 8,131,313$ 3,925,510$ 9,219,389$ 1,088,076$ 5,293,879$ 234.86%
Operating Reserve 216,784 242,677 242,677
AVAILABLE FUND BALANCE 7,914,529$ 3,682,833$ 8,976,712$
VARIANCE
AIRPORT
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 20 of 33
Solid Waste Fund
This fund accounts for revenues and expenses for administration and operating of solid waste, recycling, and yard waste
collection services for the city.
Charges for Services – This account will fluctuate based on when actual payments are received for services. The increase
from prior year is largely due to an increase in rates charged to Renton customers.
Contracted Services‐ Contracted services will fluctuate with the charges for services as this line item includes payment to
the City’s garbage service provider as well as King County dump fees. Current year expenses have increased from prior year
due to increase of prices from the garbage service provider consistent with increases in CPI.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 360,168$ ‐$ ‐$ (360,168)$ 0.00%
Charges for services 5,409,524 25,168,583 6,102,084 692,560 (19,066,499) 24.24%
Interest and other misc 3,813 5,000 19,461 15,648 14,461 389.22%
TOTAL REVENUES 5,413,337 25,533,751 6,121,545 708,208 (19,412,206) 23.97%
EXPENSES:
Personnel 137,432 707,752 116,423 21,009 591,329 16.45%
Supplies 4,621 45,301 4,431 190 40,870 9.78%
Contracted Services 4,375,818 24,615,900 4,898,870 (523,052) 19,717,030 19.90%
Internal Services 77,139 527,016 131,754 (54,615) 395,262 25.00%
TOTAL OPERATING EXPENSES 4,595,010 25,895,969 5,151,478 (556,468) 20,744,491 19.89%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 818,327 (362,218) 970,067 151,740 1,332,285 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
TRANSFERS OUT ‐ (80,000) ‐ ‐ (80,000) N/A
NET TRANSFERS ‐ (80,000) ‐ ‐ 80,000 N/A
CHANGE IN FUND BALANCE 818,327 (442,218) 970,067 151,740 1,412,285 N/A
BEGINNING FUND BALANCE, Jan 1 3,392,243 3,951,191 3,951,191 558,948 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 4,210,570$ 3,508,973$ 4,921,258$ 710,688$ 1,412,285$ 140.25%
Operating Reserve 400,000 400,000 400,000
AVAILABLE FUND BALANCE 3,810,570$ 3,108,973$ 4,521,258$
SOLID WASTE
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 21 of 33
Golf Course Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the Maplewood Golf Course.
Interest and Other Misc. – The decrease from prior year is due to recognizing an interfund loan payment of $225K in 2022
for the purchase of the new golf cart fleet.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 423,369$ 2,546,155$ 437,912$ 14,543$ (2,108,243)$ 17.20%
Rents, leases, and misc fees 54,409 527,600 89,155 34,746 (438,445) 16.90%
Interest and other misc 226,575 1,370 11,637 (214,938) 10,267 849.42%
TOTAL REVENUES 704,353 3,075,125 538,704 (165,649) (2,536,421) 17.52%
EXPENSES:
Personnel 380,274 1,787,276 402,527 (22,253) 1,384,749 22.52%
Supplies 43,226 312,500 87,006 (43,780) 225,494 27.84%
Contracted Services 28,806 206,350 41,091 (12,285) 165,259 19.91%
Internal Services 90,138 468,333 117,083 (26,945) 351,250 25.00%
TOTAL OPERATING EXPENSES 542,444 2,774,459 647,707 (105,263) 2,126,752 23.35%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 161,909 300,666 (109,003) (270,912) (409,669) ‐36.25%
DEBT SERVICE:
Principal 3,664 44,535 11,092 (7,428) 33,443 24.91%
Interest 188 1,682 462 (274) 1,220 27.47%
TOTAL DEBT SERVICE 3,852 46,217 11,554 (7,702) 34,663 25.00%
CAPITAL OUTLAY 16,167 328,898 ‐ 16,167 328,898 0.00%
TRANSFERS IN ‐ 155,000 38,750 38,750 (116,250) 25.00%
TRANSFERS OUT ‐ (155,000) (38,750) 38,750 (116,250) N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 141,890 (74,449) (120,557) (262,447) (46,108) N/A
BEGINNING FUND BALANCE, Jan 1 1,222,897 1,609,927 1,609,927 387,030 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 1,364,787$ 1,535,478$ 1,489,370$ 124,583$ (46,108)$ 97.00%
Operating Reserve 641,500 718,815 718,815
AVAILABLE FUND BALANCE 723,287$ 816,663$ 770,555$
GOLF COURSE
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 22 of 33
Water Utility Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the city’s water utility.
Interest and Other Misc. – Increase over prior year is primarily due to investment earnings. Investment earnings have
varied over the past couple of years as the market has seen uncertainty with the pandemic and now concerns of recession.
This revenue is highly influenced by the federal funds rate, and we may continue to see a rise in investment earnings as this
is adjusted. Investments within the Local Government Investment Pool (LGIP) maintain a high level of liquidity and will
closely track with the federal funds rate as it decreases or increases; the city holds roughly 55% of the total cash and
investments for the city in the LGIP.
Personnel – The increase from prior year is largely due to filling positions that were open in prior year as well as an increase
for cost‐of‐living adjustments.
202220232023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 3,896,634$ 19,133,877$ 3,941,434$ 44,800$ (15,192,443)$ 20.60%
Rents, leases, and misc fees 50,823 136,591 106,141 55,318 (30,450) 77.71%
Interest and other misc 111,028 47,000 301,587 190,559 254,587 641.67%
TOTAL REVENUES 4,058,485 20,789,505 4,349,162 290,677 (16,440,343) 20.92%
EXPENSES:
Personnel 1,039,378 5,188,033 1,179,087 (139,709) 4,008,946 22.73%
Supplies 245,004 886,189 225,127 19,877 661,062 25.40%
Contracted Services 733,843 3,710,915 675,640 58,203 3,035,275 18.21%
Internal Services 662,896 2,935,307 733,827 (70,931) 2,201,480 25.00%
TOTAL OPERATING EXPENSES 2,681,121 12,720,444 2,813,681 (132,560) 9,906,763 22.12%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 1,377,364 8,069,061 1,535,481 158,117 (6,533,580) 19.03%
DEBT SERVICE:
Principal ‐ 1,504,997 ‐ ‐ 1,504,997 0.00%
Interest ‐ 164,913 ‐ ‐ 164,913 0.00%
TOTAL DEBT SERVICE ‐ 1,669,910 ‐ ‐ 1,669,910 0.00%
CAPITAL OUTLAY 1,022,419 37,847,774 999,613 22,806 36,848,161 2.64%
TRANSFERS OUT ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 354,945 (31,448,623) 535,868 180,923 31,984,491 N/A
BEGINNING FUND BALANCE, Jan 1 43,849,867 48,208,077 48,208,077 4,358,210 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 44,204,812$ 16,759,454$ 48,743,945$ 4,539,133$ 31,984,491$ 290.84%
Restricted for Debt Service 1,394,050 1,394,050 1,394,050
Operating Reserve 1,624,606 1,723,304 1,723,304
AVAILABLE FUND BALANCE 41,186,156$ 13,642,100$ 45,626,591$
WATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 23 of 33
Wastewater Utility Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the city’s wastewater utility.
Capital Outlay – The decrease from prior year is primarily due to the majority of project expenses for Downtown Sewer
Replacement and Rehabilitation project that occurred in 2022 and the Renton Highlands Sanitary Sewer Rehabilitation
project that was completed in 2022.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 33,579$ 62,734$ 10,500$ (23,079)$ (52,234)$ 16.74%
Charges for services 2,908,832 11,928,231 2,979,285 70,453 (8,948,946) 24.98%
Fines and penalties 56 ‐ ‐ (56) ‐ N/A
Interest and other misc 173,358 74,000 196,779 23,421 122,779 265.92%
TOTAL REVENUES 3,115,825 12,064,965 3,186,564 70,739 (8,878,401) 26.41%
EXPENSES:
Personnel 605,068 3,071,964 592,420 12,648 2,479,544 19.28%
Supplies 14,767 74,441 47,991 (33,224) 26,450 64.47%
Contracted Services 526,468 2,512,265 565,345 (38,877) 1,946,920 22.50%
Internal Services 497,934 1,999,188 499,797 (1,863) 1,499,391 25.00%
TOTAL OPERATING EXPENSES 1,644,237 7,657,858 1,705,553 (61,316) 5,952,305 22.27%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 1,471,588 4,407,107 1,481,011 9,423 (2,926,096) 33.61%
DEBT SERVICE:
Principal ‐ 588,350 ‐ ‐ 588,350 0.00%
Interest ‐ 73,449 ‐ ‐ 73,449 0.00%
TOTAL DEBT SERVICE ‐ 661,799 ‐ ‐ 661,799 0.00%
CAPITAL OUTLAY 1,034,819 17,103,445 202,640 832,179 16,900,805 1.18%
TRANSFERS IN ‐ ‐ ‐ ‐ ‐ N/A
TRANSFERS OUT ‐ (22,000) ‐ ‐ (22,000) N/A
NET TRANSFERS ‐ (22,000) ‐ ‐ 22,000 N/A
CHANGE IN FUND BALANCE 436,769 (13,380,137) 1,278,371 841,602 14,658,508 N/A
BEGINNING FUND BALANCE, Jan 1 20,788,687 22,850,871 22,850,871 2,062,184 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 21,225,456$ 9,470,734$ 24,129,242$ 2,903,786$ 14,658,508$ 254.78%
Restricted for Debt Service 661,227 661,227 661,227
Operating Reserve 913,756 975,361 975,361
AVAILABLE FUND BALANCE 19,650,473$ 7,834,146$ 22,492,654$
WASTEWATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 24 of 33
King County Metro Fund
This fund accounts for revenues and expenses for operation of the city’s wastewater utility, as it relates to charges for and
payment to King County Metro for water treatment services.
Charges for Services – Increase from prior year is largely due the increase in King County fees which is passed through to
wastewater customers.
Contracted Services – The increase from prior year relates to the increase in King County fees as well as the timing of
payments to King County. Payments were properly corrected in 2023 to reflect in the appropriate month for which they
relate to.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 4,655,175$ 19,358,929$ 4,999,452$ 344,277$ (14,359,477)$ 25.83%
Interest and other misc 4,037 ‐ 36,684 32,647 36,684 N/A
TOTAL REVENUES 4,659,212 19,358,929 5,036,136 376,924 (14,322,793) 26.01%
EXPENSES:
Contracted Services 3,042,249 20,173,811 5,043,453 (2,001,204) 15,130,358 25.00%
TOTAL OPERATING EXPENSES 3,042,249 20,173,811 5,043,453 (2,001,204) 15,130,358 25.00%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 1,616,963 (814,882) (7,317) (1,624,280) 807,565 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 1,616,963 (814,882) (7,317) (1,624,280) 807,565 N/A
BEGINNING FUND BALANCE, Jan 1 3,764,012 6,237,142 6,237,142 2,473,130 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 5,380,975$ 5,422,260$ 6,229,825$ 848,850$ 807,565$ 114.89%
Operating Reserve 380,000 380,000 380,000
AVAILABLE FUND BALANCE 5,000,975$ 5,042,260$ 5,849,825$
KING COUNTY METRO
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 25 of 33
Surface Water Utility Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the city’s surface water utility.
Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenses, and reimbursement of related expenses. Grant revenue is budgeted at
100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenses occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires.
Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen
uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,
and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government
Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or
increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 5,967$ 51,217$ 9,375$ 3,408$ (41,842)$ 18.30%
Grants / intergovernmental 890,479 12,994,864 1,004,890 114,411 (11,989,974) 7.73%
Charges for services 3,161,421 13,122,100 3,207,486 46,065 (9,914,614) 24.44%
Interest and other misc 209,370 450,519 623,855 414,485 173,336 138.47%
TOTAL REVENUES 4,267,237 26,618,700 4,845,606 578,369 (21,773,094) 18.20%
EXPENSES:
Personnel 907,775 4,575,050 957,675 (49,900) 3,617,375 20.93%
Supplies 21,858 174,650 32,208 (10,350) 142,442 18.44%
Contracted Services 363,133 4,625,819 295,314 67,819 4,330,505 6.38%
Internal Services 629,489 2,989,720 747,430 (117,941) 2,242,290 25.00%
TOTAL OPERATING EXPENSES 1,922,255 12,365,239 2,032,627 (110,372) 10,332,612 16.44%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 2,344,982 14,253,461 2,812,979 467,997 (11,440,482) 19.74%
DEBT SERVICE:
Principal ‐ 664,300 ‐ ‐ 664,300 0.00%
Interest ‐ 90,517 ‐ ‐ 90,517 0.00%
TOTAL DEBT SERVICE ‐ 754,817 ‐ ‐ 754,817 0.00%
CAPITAL OUTLAY 906,108 27,607,294 300,171 605,937 27,307,123 1.09%
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 1,438,874 (14,108,650) 2,512,808 1,073,934 16,621,458 N/A
BEGINNING FUND BALANCE, Jan 1 21,682,758 28,314,755 28,314,756 6,631,998 1 100.00%
Prior Period Adjustment ‐ ‐ ‐ ‐ ‐ N/A
BEGINNING FUND BALANCE, Jan 1 ‐ restated 21,682,758 28,314,755 28,314,756 6,631,998 1 100.00%
ENDING FUND BALANCE, Mar 31 23,121,632$ 14,206,105$ 30,827,564$ 7,705,932$ 16,621,459$ 217.00%
Restricted for Debt Service 754,868 754,868 754,868
Operating Reserve 1,109,340 1,245,213 1,245,213
AVAILABLE FUND BALANCE 21,257,424$ 12,206,024$ 28,827,483$
SURFACE WATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 26 of 33
Internal Services – Increase from prior year is due to the creation of the sustainability division of which each utility fund is
paying for an allocated portion of that division’s expenditures.
Capital Outlay – Decrease from prior year primarily relates to the Downtown Storm System Improvement project which
had most of its work completed in 2022 as well as the NE 16th and Jefferson Ave NE Stormwater project which was
completed in 2022.
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 27 of 33
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. YTD budgets are not prepared for Internal Service Funds.
Equipment Rental Fund
This fund accounts for revenues and expenses for administration, purchase, and maintenance of the city’s vehicle and
equipment fleet services. Departments pay in monthly amounts for maintenance and operations. Replacement reserves are
paid monthly over the estimated useful lives of each individual vehicle or piece of equipment. These reserves are
accumulated in fund balance so that they are available to fund the replacement of the vehicle/equipment when the time
comes.
Capital Outlay – The increase from prior year is due to an increase in vehicle purchases due to major supply chain issues in
prior year that delayed purchases and at times made it challenging to order the specific vehicles needed. The amount under
budget is due to not yet replacing all budgeted vehicles for the year. Vehicle replacement varies each year based on the
condition and usage of vehicles as well as the availability of suitable replacement vehicles to purchase.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 28,489$ ‐$ 21,007$ (7,482)$ 21,007$ N/A
Interdepartmental services 1,577,732 6,349,694 1,633,942 56,210 (4,715,752) 25.73%
Interest and other misc 30,798 12,000 105,623 74,825 93,623 880.19%
TOTAL REVENUES 1,637,019 6,361,694 1,760,572 123,553 (4,601,122) 27.67%
EXPENSES:
Personnel 274,121 1,317,447 290,050 (15,929) 1,027,397 22.02%
Supplies 375,630 1,531,153 391,474 (15,844) 1,139,679 25.57%
Contracted Services 64,541 133,165 77,495 (12,954) 55,670 58.19%
Internal Services 7,692 131,363 32,841 (25,149) 98,522 25.00%
TOTAL OPERATING EXPENSES 721,984 3,113,128 791,860 (69,876) 2,321,268 25.44%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 915,035 3,248,566 968,712 53,677 (2,279,854) 29.82%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ 6,137,762 116,070 (116,070) 6,021,692 1.89%
TRANSFERS IN ‐ 3,398,700 ‐ ‐ (3,398,700) 0.00%
TRANSFERS OUT ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ 3,398,700 ‐ ‐ (3,398,700) 0.00%
CHANGE IN FUND BALANCE 915,035 509,504 852,642 (62,393) 343,138 167.35%
BEGINNING FUND BALANCE, Jan 1 10,125,169 13,277,635 13,277,635 3,152,466 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 11,040,204$ 13,787,139$ 14,130,277$ 3,090,073$ 343,138$ 102.49%
Operating Reserves 13,787,139$ 13,787,139$
AVAILABLE FUND BALANCE 11,040,204$ ‐$ 343,138$
EQUIPMENT RENTAL
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 28 of 33
Insurance Fund
This fund accounts for the administration and operation of the city’s self‐insurance programs for property losses, liability,
workers’ compensation, and unemployment compensation. Expenses are paid by the Insurance Fund and rates are charged
to departments based on their claims history over the preceding five years and coverage requirements.
Interdepartmental Services – The increase over prior year is due to additional charge outs to city departments for
additional anticipated claims costs and increased insurance premiums.
Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen
uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,
and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government
Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or
increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.
Personnel – Increase from prior year is due to cost‐of‐living adjustments in 2023 and the series promotion of personnel
within the department.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 812,697$ 4,838,982$ 1,140,880$ 328,183$ (3,698,102)$ 23.58%
Interest and other misc 136,565 22,000 314,951 178,386 292,951 1431.60%
TOTAL REVENUES 949,262 4,860,982 1,455,831 506,569 (3,405,151) 29.95%
EXPENSES:
Personnel 219,469 2,184,056 340,431 (120,962) 1,843,625 15.59%
Supplies ‐ 6,956 ‐ ‐ 6,956 0.00%
Contracted Services 754,213 3,781,134 789,142 (34,929) 2,991,992 20.87%
TOTAL OPERATING EXPENSES 973,682 5,972,146 1,129,573 (155,891) 4,842,573 18.91%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (24,420) (1,111,164) 326,258 350,678 1,437,422 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ 136,346 ‐ ‐ (136,346) 0.00%
Transfers Out ‐ (952,868) ‐ ‐ (952,868) N/A
NET TRANSFERS ‐ (816,522) ‐ ‐ 816,522 N/A
CHANGE IN FUND BALANCE (24,420) (1,927,686) 326,258 350,678 2,253,944 N/A
BEGINNING FUND BALANCE, Jan 1 20,494,538 23,221,020 23,221,020 2,726,482 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 20,470,118$ 21,293,334$ 23,547,278$ 3,077,160$ 2,253,944$ 110.59%
Operating Reserves 13,952,413 16,741,439 16,741,439
AVAILABLE FUND BALANCE 6,517,705$ 4,551,895$ 6,805,839$
INSURANCE
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 29 of 33
Information Technology Fund
This fund accounts for the administration, purchase, and operation of the city’s information technology systems, including
computer hardware and software, network servers and infrastructure, phone systems, and cell phones. Expenses are paid
by the Information Technology Fund and rates are charged to departments based on use.
Interdepartmental Services – The increase over prior year is primarily related to an increase in charges to departments for
the replacement reserve of the city’s ERP system which was budgeted in 2023.
Supplies ‐ The amount under prior year is due to a significant cost in 2022 related to Axon body cameras of $660K.
Capital Outlay –The increase in capital outlay over prior year is due to the Disaster Recovery project which is currently
$657K through March.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 55,591$ 150,000$ 54,897$ (694)$ (95,103)$ 36.60%
Interdepartmental services 1,644,595 7,355,590 1,838,899 194,304 (5,516,691) 25.00%
Interest and other misc 2,872 7,000 48,388 45,516 41,388 691.26%
TOTAL REVENUES 1,703,058 7,512,590 1,942,184 239,126 (5,570,406) 25.85%
EXPENSES:
Personnel 771,557 3,873,557 848,986 (77,429) 3,024,571 21.92%
Supplies 801,183 1,074,664 77,864 723,319 996,800 7.25%
Contracted Services 831,362 3,173,676 791,357 40,005 2,382,319 24.94%
TOTAL OPERATING EXPENSES 2,404,102 8,128,434 1,719,841 684,261 6,408,593 21.16%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (701,044) (615,844) 222,343 923,387 838,187 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 13,336 5,568,965 824,452 (811,116) 4,744,513 14.80%
TRANSFERS IN 1,410 1,291,676 15,539 14,129 (1,276,137) 1.20%
NET TRANSFERS 1,410 1,291,676 15,539 14,129 (1,276,137) 1.20%
CHANGE IN FUND BALANCE (712,970) (4,893,133) (586,570) 126,400 4,306,563 N/A
BEGINNING FUND BALANCE, Jan 1 3,653,455 9,021,343 9,021,343 5,367,888 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 2,940,485$ 4,128,210$ 8,434,773$ 5,494,288$ 4,306,563$ 204.32%
Operating Reserves 2,326,091$ 2,326,091$
AVAILABLE FUND BALANCE 2,940,485$ 1,802,119$ 6,695,252$
INFORMATION TECHNOLOGY
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 30 of 33
Facilities Fund
This fund accounts for the administration, maintenance, and operation of city‐owned facilities. Expenses are paid by the
Facilities Fund and rates are charged to departments based on square footage.
Interdepartmental Services – The increase over prior year is due to increased expenses in facilities charged through an
internal service fund charge to each department.
Supplies ‐ The increase over prior year and budget largely relates to the increased need to support staff back at City Hall
and other remote locations. As city locations are utilized more frequently, the costs for electricity and other consumption‐
based services like facilities supplies are expected to increase. There was also an increased need in repairs and
maintenance on city facilities that had been underutilized in the prior two years.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 1,529,279$ 6,883,097$ 1,729,509$ 200,230$ (5,153,588)$ 25.13%
Interest and other misc 520 4,000 3,231 2,711 (769) 80.78%
TOTAL REVENUES 1,529,799 6,887,097 1,732,740 202,941 (5,154,357) 25.16%
EXPENSES:
Personnel 861,733 4,257,370 870,466 (8,733) 3,386,904 20.45%
Supplies 166,477 700,596 291,331 (124,854) 409,265 41.58%
Contracted Services 251,293 1,869,620 333,645 (82,352) 1,535,975 17.85%
Internal Services 32,696 273,086 68,272 (35,576) 204,814 25.00%
TOTAL OPERATING EXPENSES 1,312,199 7,100,672 1,563,714 (251,515) 5,536,958 22.02%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 217,600 (213,575) 169,026 (48,574) 382,601 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ 17,160 (17,160) (17,160) N/A
Transfers In ‐ 175,040 ‐ ‐ (175,040) 0.00%
NET TRANSFERS ‐ 175,040 ‐ ‐ (175,040) 0.00%
CHANGE IN FUND BALANCE 217,600 (38,535) 151,866 (65,734) 190,401 N/A
BEGINNING FUND BALANCE, Jan 1 785,189 937,922 937,922 152,733 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 1,002,789$ 899,387$ 1,089,788$ 86,999$ 190,401$ 121.17%
FACILITIES
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 31 of 33
Communications Fund
This fund accounts for community and intergovernmental relations and communications with the public. Communications
is a major activity of the city’s administration responsible for external communications, employee communications, media
relations, and coordination of all departments in producing the city’s website. Expenses are paid by the Communications
Fund and rates are charged to departments based on usage.
Interdepartmental services – The increase over prior year primarily relates to an increase in budgeted charges to each
department due to increased budgets for expenditure items including personnel, which received a cost‐of‐living adjustment
in 2023.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 296,651$ 1,592,402$ 398,100$ 101,449$ (1,194,302)$ 25.00%
Interest and other misc 53 1,000 1,911 1,858 911 191.10%
TOTAL REVENUES 296,704 1,593,402 400,011 103,307 (1,193,391) 25.10%
EXPENSES:
Personnel 194,938 1,184,992 230,261 (35,323) 954,731 19.43%
Supplies 9,688 55,432 13,760 (4,072) 41,672 24.82%
Contracted Services 71,138 401,155 69,477 1,661 331,678 17.32%
Internal Services 509 4,696 1,174 (665) 3,522 25.00%
TOTAL OPERATING EXPENSES 276,273 1,646,275 314,672 (38,399) 1,331,603 19.11%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 20,431 (52,873) 85,339 64,908 138,212 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ 18,775 ‐ ‐ 18,775 0.00%
NET TRANSFERS ‐ (18,775) ‐ ‐ 18,775 N/A
CHANGE IN FUND BALANCE 20,431 (71,648) 85,339 64,908 156,987 N/A
BEGINNING FUND BALANCE, Jan 1 141,517 428,724 428,724 287,207 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 161,948$ 357,076$ 514,063$ 352,115$ 156,987$ 143.96%
COMMUNICATIONS
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 32 of 33
Health Insurance Fund
This fund accounts for the city’s self‐insured health insurance program. Expenses/claims are paid by the Health Insurance
Fund and rates are charged to employees and departments based on annual premiums determined by the city’s Employee
Health Plan Board for each type of coverage elected by the employee; paid semi‐monthly in conjunction with each payroll.
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Premiums 3,195,131$ 15,603,216$ 3,291,117$ 95,986$ (12,312,099)$ 21.09%
Interest and other misc 99,350 520,000 188,545 89,195 (331,455) 36.26%
TOTAL REVENUES 3,294,481 16,123,216 3,479,662 185,181 (12,643,554) 21.58%
EXPENSES:
Personnel 81,493 339,251 81,555 (62) 257,696 24.04%
Medical/Dental Claims 2,621,112 14,166,872 2,622,178 (1,066) 11,544,694 18.51%
Supplies ‐ 7,500 1,375 (1,375) 6,125 18.33%
Contracted Services 135,971 579,786 139,931 (3,960) 439,855 24.13%
Internal Services 20,933 103,752 29,084 (8,151) 74,668 28.03%
TOTAL OPERATING EXPENSES 2,859,509 15,197,161 2,874,123 (14,614) 12,323,038 18.91%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 434,972 926,055 605,539 170,567 (320,516) 65.39%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 434,972 926,055 605,539 170,567 (320,516) 65.39%
BEGINNING FUND BALANCE, Jan 1 6,655,137 6,935,644 6,935,644 280,507 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 7,090,109$ 7,861,699$ 7,541,183$ 451,074$ (320,516)$ 95.92%
Insurance Reserves 3,774,249 4,559,148 4,559,148
AVAILABLE FUND BALANCE 3,315,860$ 3,302,551$ 2,982,035$
HEALTH INSURANCE
VARIANCE
Quarterly Financial Report City of Renton, Washington 1st Quarter 2023
Page 33 of 33
Retiree Healthcare Fund
This fund accounts for the city’s self‐insured health insurance program for LEOFF1 retirees. Benefits include medical,
prescription drug, Medicare Part B premiums, long‐term care, and vision coverage for retired law enforcement officers and
firefighters that were employed by the city prior to October 1, 1977. Dependent spouses and children are not covered.
100% of premiums are provided by the General Fund with annual contributions determined after review of a report
prepared by actuaries.
Premiums – The decrease from prior year is due a budgeted decrease; the fund was receiving more funding than required
in the prior year.
Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen
uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,
and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government
Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or
increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.
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 at
nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .
2022 2023 2023 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 40,000$ ‐$ ‐$ (40,000)$ 0.00%
Premiums 656,171 1,825,000 456,250 (199,921) (1,368,750) 25.00%
Interest and other misc 43,451 170,000 150,452 107,001 (19,548) 88.50%
TOTAL REVENUES 699,622 2,035,000 606,702 (92,920) (1,428,298) 29.81%
EXPENSES:
Personnel 26,249 101,664 24,259 1,990 77,405 23.86%
Medical/Dental Claims 271,322 1,201,877 279,182 (7,860) 922,695 23.23%
Contracted Services 13,660 66,293 14,186 (526) 52,107 21.40%
TOTAL OPERATING EXPENSES 311,231 1,369,834 317,627 (6,396) 1,052,207 23.19%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 388,391 665,166 289,075 (99,316) (376,091) 43.46%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 388,391 665,166 289,075 (99,316) (376,091) 43.46%
BEGINNING FUND BALANCE, Jan 1 18,188,260 19,928,792 19,928,792 1,740,532 ‐ 100.00%
ENDING FUND BALANCE, Mar 31 18,576,651$ 20,593,958$ 20,217,867$ 1,641,216$ (376,091)$ 98.17%
Insurance Reserves 18,576,651 20,593,958 20,217,867
AVAILABLE FUND BALANCE ‐$ ‐$ ‐$
RETIREE HEALTHCARE
VARIANCE