HomeMy WebLinkAbout11 2023Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through November 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 107,146,879$
Licenses and permits 6,099,963
Grants / intergovernmental 4,662,270
Charges for services 10,095,947
Interdepartmental services 40,893
Fines and penalties 3,466,790
Miscellaneous 2,096,785
Sale of general fixed assets 840
Investment Earnings 3,002,518
Insurance recoveries 19,009
TOTAL REVENUES 136,631,894
EXPENDITURES:
Personnel 66,848,484
Supplies 2,081,884
Contracted Services 20,131,787
Capital Outlay 219,771
Internal Services 15,368,051
TOTAL EXPENDITURES 104,649,977
Transfers In 16,210
Transfers Out (161,400)
NET TRANSFERS (145,190)
CHANGE IN FUND BALANCE 31,836,727
BEGINNING FUND BALANCE, Jan 1 83,605,978
Prior Period Adjustment -
BEGINNING FUND BALANCE, Jan 1 - restated 83,605,978
ENDING FUND BALANCE, Nov 30 115,442,705$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 17,346,914
AVAILABLE FUND BALANCE, Nov 30 95,595,791$
Monthly Financial Report November 2023
Monthly Financial Report City of Renton, Washington November 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 38,319$
Investment Earnings 137,135
TOTAL REVENUES 175,454
EXPENDITURES:
Principal 2,748,188
Interest 607,064
TOTAL EXPENDITURES 3,355,252
Transfers In 2,595,376
NET TRANSFERS 2,595,376
CHANGE IN FUND BALANCE (584,422)
BEGINNING FUND BALANCE, Jan 1 5,262,665
ENDING FUND BALANCE, Nov 30 4,678,243$
Debt Service Reserve 2,717,575
AVAILABLE FUND BALANCE 1,960,668$
Monthly Financial Report City of Renton, Washington November 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 504,379$ -$ 4,085,991$ -$ -$ -$ -$ -$
Licenses and permits - 53,566 - - - - - -
Grants / intergovernmental - - - 4,011 - - - -
Charges for services - - - - 38,600 179,240 - -
Fines and penalties - - - - - - - 971
Contributions 10,000 - - - - - 140,389 -
Investment Earnings 24,551 12,011 229,521 17,000 30,951 463 10,820 4,812
Sale of Fixed Assets - - - 247,852 - - - -
TOTAL REVENUES 538,930 65,577 4,315,512 268,863 69,551 179,703 151,209 5,783
EXPENDITURES:
Personnel - - - 7,357 - - - -
Supplies - 46,271 - - - - 34,901 2,053
Contracted Services 250,773 86,116 50,000 4,132 196,646 133,504 45,317 7,773
Capital Outlay - - - - - - 7,268 -
TOTAL EXPENDITURES 250,773 132,387 50,000 11,489 196,646 133,504 87,486 9,826
-
Transfers In - - - - - - - -
Transfers Out - - - - (2,595,376) - - -
NET TRANSFERS - - - - (2,595,376) - - -
CHANGE IN FUND BALANCE 288,157 (66,810) 4,265,512 257,374 (2,722,471) 46,199 63,723 (4,043)
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, Nov 30 1,000,541$ 386,337$ 10,375,902$ 712,002$ 1,716$ 46,199$ 403,537$ 168,761$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 2,159,852$ 2,159,852$ -$ -$ -$
Grants / intergovernmental - - - - 2,667,043 8,713,417 20,000
Charges for services 113,866 803,997 - - 30,671 109,792 -
Contributions - - - - 3,055 519,012 3,527,480
Investment Earnings 47,198 208,020 114,333 198,569 513,313 339,915 78,688
TOTAL REVENUES 161,064 1,012,017 2,274,185 2,358,421 3,214,082 9,682,136 3,626,168
EXPENDITURES:
Personnel - - - - 44,228 74,400 -
Supplies - - - - - 64,025 -
Contracted Services - - - - 743,272 236,773 3,939
Capital Outlay - - - - 13,015,201 13,450,653 2,905,184
TOTAL EXPENDITURES - - - - 13,802,701 13,825,851 2,909,123
Transfers In - - - - - - -
Transfers Out - - - - (100,000) - -
NET TRANSFERS - - - - (100,000) - -
CHANGE IN FUND BALANCE 161,064 1,012,017 2,274,185 2,358,421 (10,688,619) (4,143,715) 717,045
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, Nov 30 1,756,453$ 7,976,028$ 5,323,896$ 8,378,382$ 13,982,765$ 8,418,260$ 3,512,340$
Monthly Financial Report City of Renton, Washington November 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 2023-2024 Adopted Budget.
Airport
Solid Waste
Utility Golf Course Water Utility
Wastewater
Utility Metro
Surface Water
Utility
REVENUES:
Licenses and permits -$ -$ -$ -$ 54,275$ -$ 21,750$
Grants / intergovernmental 695,814 165,834 - 846,705 - - 1,557,919
Charges for services 5,307,872 19,836,243 2,860,426 18,098,509 11,107,937 18,706,586 12,374,366
Rents, leases, and misc fees - - 546,500 248,726 - - -
Interest and other misc 289,818 110,342 62,131 1,879,261 1,141,292 176,957 1,801,811
TOTAL REVENUES 6,293,504 20,112,419 3,469,057 21,073,201 12,303,504 18,883,543 15,755,846
EXPENSES:
Personnel 1,030,154 533,380 1,667,081 4,219,232 2,263,302 - 3,596,178
Supplies 91,067 33,197 374,718 976,173 138,018 - 112,308
Contracted Services 552,955 21,096,563 174,447 3,057,651 2,205,129 18,587,047 1,560,739
Internal Services 334,272 385,611 351,250 2,205,428 1,499,391 - 2,242,290
TOTAL OPERATING EXPENSES 2,008,448 22,048,751 2,567,496 10,458,484 6,105,840 18,587,047 7,511,515
CAPITAL, AND TRANSFERS 4,285,056 (1,936,332) 901,561 10,614,717 6,197,664 296,496 8,244,331
DEBT SERVICE:
Principal - - 40,807 272,647 - - -
Interest - - 1,558 83,686 36,645 - 45,222
TOTAL DEBT SERVICE - - 42,365 356,333 36,645 - 45,222
CAPITAL OUTLAY 1,236,596 - 326,882 4,139,393 2,045,919 - 6,161,196
Transfers In - - 322,275 - - - -
Transfers Out - - (322,275) (6,264) (5,403) - (5,403)
NET TRANSFERS - - - (6,264) (5,403) - (5,403)
CHANGE IN FUND BALANCE 3,048,460 (1,936,332) 532,314 6,112,727 4,109,697 296,496 2,032,510
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, Nov 30 11,974,149$ 2,014,859$ 2,142,241$ 54,320,804$ 26,960,568$ 6,533,638$ 30,347,266$
Restricted for Debt Service - - - 1,394,051 661,227 - 754,868
Operating Reserve 282,282 400,000 787,490 1,706,759 975,361 380,000 1,245,213
AVAILABLE FUND BALANCE 11,691,867$ 1,614,859$ 1,354,751$ 51,219,994$ 25,323,980$ 6,153,638$ 28,347,185$
Monthly Financial Report City of Renton, Washington November 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 -$ -$ 205,011$ -$ -$ -$ -$
Grants / intergovernmental - - - - - - 37,276
Equipment rental m&o 2,533,015 - 5,516,696 - - - -
Print and mail - - - - 383,353 - -
Communications - - - - 810,897 - -
Facilities - - - 5,112,471 - - -
Interest and other misc 371,904 650,801 222,541 15,444 11,595 223,098 570,001
Internal service fund misc:
Vehicle / equipment capital recovery 2,492,413 - - - - - -
Insurance premiums - 2,163,133 - - - - -
Worker's comp/unemployment - 1,632,269 - - - - -
Benefit premiums - - - - - 12,176,699 1,368,750
Other misc 1,319 9,912 11,454 82,961 - 517,237 166,374
Insurance recoveries 45,746 234,387 - - - 10,083 -
TOTAL REVENUES 5,444,397 4,690,502 5,955,702 5,210,876 1,205,845 12,927,117 2,142,401
EXPENSES:
Personnel 1,011,333 1,364,953 3,004,712 3,344,940 879,086 10,464,209 1,187,740
Supplies 1,591,825 683 1,087,046 903,221 41,701 7,372 -
Contracted Services 377,314 2,692,888 3,203,356 1,619,884 266,046 451,038 80,424
Internal Services 98,522 - 4,903 204,815 3,522 77,814 -
TOTAL OPERATING EXPENSES 3,078,994 4,058,524 7,300,017 6,072,860 1,190,355 11,000,433 1,268,164
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 2,365,403 631,978 (1,344,315) (861,984) 15,490 1,926,684 874,237
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 2,478,098 - 997,537 291,392 46,651 - -
Transfers In - - 85,114 235,960 - - -
Transfers Out - (58,813) - - - - -
NET TRANSFERS - (58,813) 85,114 235,960 - - -
CHANGE IN FUND BALANCE (112,695) 573,165 (2,256,738) (917,416) (31,161) 1,926,684 874,237
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, Nov 30 13,164,940$ 23,794,185$ 6,764,605$ 20,506$ 397,563$ 8,862,328$ 20,803,029$
Insurance Reserves - 17,616,914 - - - 4,559,148 20,803,029
Opearting Reserves 13,164,940 - 2,326,091 - - - -
AVAILABLE FUND BALANCE -$ 6,177,271$ 4,438,514$ 20,506$ 397,563$ 4,303,180$ -$
Monthly Financial Report City of Renton, Washington November 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 199,566$ -$
Investment Earnings 545,084 -
Collected for Others - 2,235,634
TOTAL REVENUES 744,650 2,235,634
EXPENDITURES:
Contracted Services 13,125 -
Distributions to Others 231,793 1,603,669
TOTAL EXPENDITURES 244,918 1,603,669
NET TRANSFERS - -
CHANGE IN FUND BALANCE 499,732 631,965
BEGINNING FUND BALANCE, Jan 1 8,733,791 -
ENDING FUND BALANCE, Nov 30 9,233,523$ 631,965$
Monthly Financial Report City of Renton, Washington November 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 November 30, 2023
Funds
Balance
01/01/2022
Budgeted
Revenue
Revenue
11/30/23
Total Funds
Available
Budgeted
Expenditure
Expenditure
11/30/23 Ending Balance
GENERAL FUND 83,605,978 142,519,850 136,648,104 220,254,082 144,557,615 104,811,377 115,442,705
SPECIAL REVENUE FUNDS:10,967,354 5,738,211 5,595,128 16,562,482 5,209,166 3,467,487 13,094,995
110 Hotel Motel 712,384 481,000 538,930 1,251,314 479,616 250,773 1,000,541
127 Cable Communication 453,147 57,674 65,577 518,724 255,586 132,387 386,337
130 Housing and Supportive Services 6,110,390 4,000,000 4,315,512 10,425,902 260,000 50,000 10,375,902
135 Springbrook Wetlands Bank 454,628 262,378 268,863 723,491 40,000 11,489 712,002
140 Police Seizure 339,814 106,159 151,209 491,023 445,973 87,486 403,537
141 Police CSAM Seizure 172,804 - 5,783 178,587 172,804 9,826 168,761
31X School District Impact Mitigation - 600,000 179,703 179,703 600,000 133,504 46,199
304 Fire Mitigation 2,724,187 231,000 69,551 2,793,738 2,955,187 2,792,022 1,716
DEBT SERVICE FUND 5,262,665 5,895,022 2,770,830 8,033,495 5,565,690 3,355,252 4,678,243
CAPITAL PROJECT FUNDS (CIP):57,657,726 74,876,371 22,328,073 79,985,799 118,053,246 30,637,675 49,348,124
303 Community Services Mitigation 1,595,389 132,172 161,064 1,756,453 1,090,000 - 1,756,453
305 Transportation Mitigation 6,964,011 661,235 1,012,017 7,976,028 5,817,897 - 7,976,028
308 REET1 3,049,711 2,096,157 2,274,185 5,323,896 3,715,000 - 5,323,896
309 REET2 6,019,961 2,179,126 2,358,421 8,378,382 5,403,625 - 8,378,382
316 Municipal Facilities CIP 24,671,384 18,829,719 3,214,082 27,885,466 41,213,863 13,902,701 13,982,765
317 Transportation CIP 12,561,975 45,791,289 9,682,136 22,244,111 56,979,034 13,825,851 8,418,260
346 New Family First Center Dvlpmnt 2,795,295 5,186,673 3,626,168 6,421,463 3,833,827 2,909,123 3,512,340
ENTERPRISE FUNDS:120,097,653 131,547,945 98,213,349 218,311,002 192,661,038 84,017,477 134,293,525
4X2 Airport Operating & CIP 8,925,689 7,285,694 6,293,504 15,219,193 11,588,234 3,245,044 11,974,149
403 Solid Waste Utility 3,951,191 25,908,805 20,112,419 24,063,610 26,284,049 22,048,751 2,014,859
4X4 Golf Operating & CIP 1,609,927 3,919,825 3,791,332 5,401,259 4,003,974 3,259,018 2,142,241
4X5 Water Operating & CIP 48,208,077 22,053,001 21,073,201 69,281,278 52,379,968 14,960,474 54,320,804
4X6 Waste Water Operating & CIP 22,850,871 12,733,569 12,303,504 35,154,375 25,445,102 8,193,807 26,960,568
416 King County Metro 6,237,142 20,303,166 18,883,543 25,120,685 20,173,811 18,587,047 6,533,638
4X7 Surface Water Operating & CIP 28,314,756 39,343,885 15,755,846 44,070,602 52,785,900 13,723,336 30,347,266
INTERNAL SERVICE FUNDS:73,751,080 53,408,601 37,897,914 111,648,994 58,629,662 37,841,838 73,807,156
501 Equipment Repair/Replacement 13,277,635 10,506,130 5,444,397 18,722,032 10,871,930 5,557,092 13,164,940
502 Insurance 23,221,020 6,620,328 4,690,502 27,911,522 7,461,634 4,117,337 23,794,185
503 Information Services 9,021,343 9,527,403 6,040,816 15,062,159 14,369,947 8,297,554 6,764,605
504 Facilities 937,922 7,185,622 5,446,836 6,384,758 7,307,705 6,364,252 20,506
505 Communications 428,724 1,593,402 1,205,845 1,634,569 1,731,451 1,237,006 397,563
512 Insurance, Healthcare 6,935,644 16,315,216 12,927,117 19,862,761 15,197,161 11,000,433 8,862,328
522 Insurance, Leoff1 Retirees HC 19,928,792 1,660,500 2,142,401 22,071,193 1,689,834 1,268,164 20,803,029
FIDUCIARY FUNDS:8,733,791 424,566 2,980,284 11,714,075 267,475 1,848,587 9,865,488
611 Firemens' Pension 8,733,791 424,566 744,650 9,478,441 267,475 244,918 9,233,523
630 Custodial Fund - - 2,235,634 2,235,634 - 1,603,669 631,965
TOTAL FUNDS 360,076,247 414,410,566 306,433,682 666,509,929 524,943,892 265,979,693 400,530,236