HomeMy WebLinkAboutMONTH 2024 11Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through
November 30, 2024. 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 111,666,216$
Licenses and permits 6,091,466
Grants / intergovernmental 7,329,460
Charges for services 10,450,744
Interdepartmental services 45,054
Fines and penalties 3,624,085
Miscellaneous 3,005,919
Sale of general fixed assets 21,260
Investment Earnings 4,497,792
Insurance recoveries 19,853
TOTAL REVENUES 146,751,849
EXPENDITURES:
Personnel 69,604,866
Supplies 1,917,262
Contracted Services 22,150,133
Capital Outlay 101,185
Internal Services 15,730,929
TOTAL EXPENDITURES 109,504,375
Transfers In 317,893
Transfers Out (272,425)
NET TRANSFERS 45,468
CHANGE IN FUND BALANCE 37,292,942
BEGINNING FUND BALANCE, Jan 1 99,226,476
ENDING FUND BALANCE, Nov 30 136,519,418$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 18,347,927
AVAILABLE FUND BALANCE, Nov 30 115,671,491$
Monthly Financial Report November 2024
Monthly Financial Report City of Renton, Washington November 2024
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.
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.
General
Governmental
Misc Debt
REVENUES:
Grants / intergovernmental 32,358$
Investment Earnings 187,052
TOTAL REVENUES 219,410
EXPENDITURES:
Principal 215,000
Interest 498,153
TOTAL EXPENDITURES 713,153
Transfers In -
NET TRANSFERS -
CHANGE IN FUND BALANCE (493,743)
BEGINNING FUND BALANCE, Jan 1 5,412,174
ENDING FUND BALANCE, Nov 30 4,918,431$
Debt Service Reserve 2,717,575
AVAILABLE FUND BALANCE 2,200,856$
Hotel-Motel
Tax
Cable
Communications
Housing and
Supportive
Services
Affordable
Housing
Springbrook
Wetlands
Fire Impact
Mitigation
School District
Impact
Mitigation Police Seizure
Police CSAM
Seizure
REVENUES:
Taxes 529,882$ -$ 4,138,763$ -$ -$ -$ -$ -$ -$
Licenses and permits - 46,512 - - - - - - -
Grants / intergovernmental - - - - 4,132 - - 2,686 -
Charges for services - - - - - 95,633 285,136 - -
Fines and penalties - - - - - - - - 1,670
Contributions 30,000 2,596 - - - - - 421,850 -
Fee in Lieu - - - 292,000 - - - - -
Investment Earnings 36,896 13,480 459,261 - 25,942 - 901 26,293 4,892
TOTAL REVENUES 596,778 62,588 4,598,024 292,000 30,074 95,633 286,037 450,829 6,562
EXPENDITURES:
Personnel - - - - 5,852 - - - -
Supplies - 2,798 - - - - - 12,865 1,375
Contracted Services 274,832 41,775 190,438 - 14,221 81,807 220,362 254,518 2,235
Capital Outlay - - - - - - - 86,900 40,278
TOTAL EXPENDITURES 274,832 44,573 190,438 - 20,073 81,807 220,362 354,283 43,888
-
Transfers In - - - - - - - - -
NET TRANSFERS - - - - - - - - -
CHANGE IN FUND BALANCE 321,946 18,015 4,407,586 292,000 10,001 13,826 65,675 96,546 (37,326)
BEGINNING FUND BALANCE, Jan 1 889,272 358,300 10,811,847 - 711,118 - 34 731,928 169,577
ENDING FUND BALANCE, Nov 30 1,211,218$ 376,315$ 15,219,433$ 292,000$ 721,119$ 13,826$ 65,709$ 828,474$ 132,251$
Monthly Financial Report City of Renton, Washington November 2024
Page 3 of 7
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.
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 2,841,727$ 2,841,727$ -$ 2,247,348$ -$
Grants / intergovernmental - - - - 1,566,869 7,566,326 -
Charges for services 164,053 1,249,624 - - 9,000 650 -
Contributions - - - - 26,456 5,424,407 145,522
Investment Earnings 26,785 97,745 112,040 162,386 740,895 526,797 136,234
TOTAL REVENUES 190,838 1,347,369 2,953,767 3,004,113 2,343,220 15,765,528 281,756
EXPENDITURES:
Personnel - - - - 74,414 135,319 -
Contracted Services - - - - 849,187 230,554 -
Capital Outlay - - - - 4,368,173 16,313,669 -
TOTAL EXPENDITURES - - - - 5,291,774 16,721,972 -
Transfers In - - - - - - -
Transfers Out - - - - (210,422) - -
NET TRANSFERS - - - - (210,422) - -
CHANGE IN FUND BALANCE 190,838 1,347,369 2,953,767 3,004,113 (3,158,976) (956,444) 281,756
BEGINNING FUND BALANCE, Jan 1 681,333 2,220,270 1,765,153 3,145,503 21,980,020 15,282,117 3,643,436
ENDING FUND BALANCE, Nov 30 872,171$ 3,567,639$ 4,718,920$ 6,149,616$ 18,821,044$ 14,325,673$ 3,925,192$
Monthly Financial Report City of Renton, Washington November 2024
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 -$ -$ -$ 1,025$ 75,729$ -$ 24,000$
Grants / intergovernmental 862,186 37,418 - 121,824 - - 7,319,577
Charges for services 4,222,406 25,111,190 3,121,216 17,890,933 11,804,845 20,225,585 12,586,123
Rents, leases, and misc fees - - 571,444 223,537 - - -
Interest and other misc 458,416 199,828 94,333 2,959,340 1,769,297 249,707 1,203,473
TOTAL REVENUES 5,543,008 25,348,436 3,786,993 21,196,659 13,649,871 20,475,292 21,133,173
EXPENSES:
Personnel 1,150,509 592,293 1,821,765 4,587,958 2,482,338 - 3,743,426
Supplies 122,424 17,669 362,651 915,093 78,085 - 90,293
Contracted Services 621,230 23,427,528 276,815 3,331,818 2,356,657 19,531,455 1,674,571
Internal Services 343,162 407,933 360,299 2,263,441 1,581,391 - 2,283,448
TOTAL OPERATING EXPENSES 2,237,325 24,445,423 2,821,530 11,098,310 6,498,471 19,531,455 7,791,738
AMOUNT AVAILABLE FOR DEBT
SERVICE, CAPITAL, AND 3,305,683 903,013 965,463 10,098,349 7,151,400 943,837 13,341,435
DEBT SERVICE:
Principal - - 44,979 272,647 - - -
Interest - - 1,237 67,211 29,816 - 36,772
TOTAL DEBT SERVICE - - 46,216 339,858 29,816 - 36,772
CAPITAL OUTLAY 1,261,281 - 55,620 3,148,052 4,315,074 - 14,299,339
Transfers In 164,955 - 123,750 - - - -
Transfers Out - - (123,750) (122) (1,469) - 106
NET TRANSFERS 164,955 - - (122) (1,469) - 106
CHANGE IN FUND BALANCE 2,209,357 903,013 863,627 6,610,317 2,805,041 943,837 (994,570)
BEGINNING FUND BALANCE, Jan 1 11,276,837 3,928,543 1,884,908 52,071,465 26,162,847 6,589,443 29,287,067
ENDING FUND BALANCE, Nov 30 13,486,194$ 4,831,556$ 2,748,535$ 58,681,782$ 28,967,888$ 7,533,280$ 28,292,497$
Restricted for Debt Service - - - 1,394,050 661,227 - 754,868
Operating Reserve 266,810 400,000 764,018 1,775,696 1,045,195 380,000 1,330,313
AVAILABLE FUND BALANCE 13,219,384$ 4,431,556$ 1,984,517$ 55,512,036$ 27,261,466$ 7,153,280$ 26,207,316$
Monthly Financial Report City of Renton, Washington November 2024
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 -$ -$ 204,282$ -$ -$ -$ -$
Grants / intergovernmental - - 86,116 - - - 208,793
Charges for services:
Equipment rental m&o 2,564,406 - 5,653,079 - - - -
Print and mail - - - - 391,031 - -
Communications - - - - 856,794 - -
Facilities - - - 5,295,135 - - -
Interest and other misc 665,397 884,138 303,263 34,453 22,195 357,387 735,200
Internal service fund misc:
Vehicle / equipment capital recovery 2,404,941 - - - - - -
Insurance premiums - 2,184,322 - - - - -
Worker's comp/unemployment - 1,792,724 - - - - -
Benefit premiums - - - - - 12,707,626 427,500
Other misc 749 4,502 - 118,611 - 639,953 217,632
Disposal of capital assets 222,228 - - - - - -
Insurance recoveries 34,282 124,048 - - - 9,227 -
TOTAL REVENUES 5,892,003 4,989,734 6,246,740 5,448,199 1,270,020 13,714,193 1,589,125
EXPENSES:
Personnel 1,100,693 1,164,725 3,266,393 3,558,851 1,046,385 11,783,484 1,257,062
Supplies 1,443,332 552 1,147,529 548,049 42,186 8,076 -
Contracted Services 518,041 3,479,890 3,144,775 1,487,254 309,614 519,609 45,461
Internal Services 101,452 - 5,022 209,549 3,608 85,544 -
TOTAL OPERATING EXPENSES 3,163,518 4,645,167 7,563,719 5,803,703 1,401,793 12,396,713 1,302,523
AMOUNT AVAILABLE FOR DEBT
SERVICE, CAPITAL, AND
TRANSFERS 2,728,485 344,567 (1,316,979) (355,504) (131,773) 1,317,480 286,602
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 3,178,248 - 996,011 1,065 - - -
Transfers In - - 2,880 - - - -
NET TRANSFERS - - 2,880 - - - -
CHANGE IN FUND BALANCE (449,763) 344,567 (2,310,110) (356,569) (131,773) 1,317,480 286,602
BEGINNING FUND BALANCE, Jan 1 18,278,075 24,691,220 9,416,600 1,046,533 641,437 8,946,970 20,320,818
ENDING FUND BALANCE, Nov 30 17,828,312$ 25,035,787$ 7,106,490$ 689,964$ 509,664$ 10,264,450$ 20,607,420$
Insurance Reserves - 20,147,927 - - - 4,920,868 20,607,420
Opearting Reserves 12,995,059 - 2,551,999 - - - -
AVAILABLE FUND BALANCE 4,833,253$ 4,887,860$ 4,554,491$ 689,964$ 509,664$ 5,343,582$ -$
Monthly Financial Report City of Renton, Washington November 2024
Page 6 of 7
FIDUCIARY FUNDS
Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for
City use as they are not City assets. The table below displays year-to-date revenues and expenditures of the City’s
fiduciary funds.
Firemens'
Pension Custodial Fund
REVENUES:
Intergovernmental -$ -$
Investment Earnings 623,174 -
Collected for Others - 3,162,255
TOTAL REVENUES 623,174 3,162,255
EXPENDITURES:
Contracted Services 7,400 -
Distributions to Others 240,043 2,279,523
TOTAL EXPENDITURES 247,443 2,279,523
NET TRANSFERS - -
CHANGE IN FUND BALANCE 375,731 882,732
BEGINNING FUND BALANCE, Jan 1 9,253,302 -
ENDING FUND BALANCE, Nov 30 9,629,033$ 882,732$
Monthly Financial Report City of Renton, Washington November 2024
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, 2024
Funds
Balance
01/01/2024
Budgeted
Revenue
Revenue
11/30/24
Total Funds
Available
Budgeted
Expenditure
Expenditure
11/30/24
Ending
Balance
GENERAL FUND 99,226,476 144,599,302 147,069,742 246,296,218 152,899,391 109,776,800 136,519,418
SPECIAL REVENUE FUNDS: 13,672,076 5,518,127 6,418,525 20,090,601 3,314,225 1,230,256 18,860,345
110 Hotel Motel 889,272 469,000 596,778 1,486,050 470,604 274,832 1,211,218
127 Cable Communication 358,300 57,674 62,588 420,888 97,674 44,573 376,315
130 Housing and Supportive Services 10,811,847 3,500,000 4,598,024 15,409,871 609,000 190,438 15,219,433
135 Springbrook Wetlands Bank 711,118 4,011 30,074 741,192 40,000 20,073 721,119
140 Police Seizure 731,928 393,772 450,829 1,182,757 1,125,700 354,283 828,474
141 Police CSAM Seizure 169,577 1,670 6,562 176,139 171,247 43,888 132,251
150 Affordable Housing Development - 292,000 292,000 292,000 - - 292,000
31X School District Impact Mitigation 34 600,000 286,037 286,071 600,000 220,362 65,709
304 Fire Mitigation - 200,000 95,633 95,633 200,000 81,807 13,826
DEBT SERVICE FUND 5,412,174 3,153,417 219,410 5,631,584 2,960,690 713,153 4,918,431
CAPITAL PROJECT FUNDS (CIP): 48,717,832 63,949,716 25,886,591 74,604,423 89,228,591 22,224,168 52,380,255
303 Community Services Mitigation 681,333 86,500 190,838 872,171 525,000 - 872,171
305 Transportation Mitigation 2,220,270 911,152 1,347,369 3,567,639 100,000 - 3,567,639
308 REET1 1,765,153 2,300,000 2,953,767 4,718,920 - - 4,718,920
309 REET2 3,145,503 2,300,000 3,004,113 6,149,616 4,183,425 - 6,149,616
316 Municipal Facilities CIP 21,980,020 18,071,752 2,343,220 24,323,240 32,332,139 5,502,196 18,821,044
317 Transportation CIP 15,282,117 40,280,312 15,765,528 31,047,645 52,088,027 16,721,972 14,325,673
346 New Family First Center Dvlpmnt 3,643,436 - 281,756 3,925,192 - - 3,925,192
ENTERPRISE FUNDS: 131,201,110 129,402,560 111,422,137 242,623,247 200,739,391 98,081,515 144,541,732
4X2 Airport Operating & CIP 11,276,837 6,131,870 5,707,963 16,984,800 10,191,589 3,498,606 13,486,194
403 Solid Waste Utility 3,928,543 26,151,679 25,348,436 29,276,979 27,045,563 24,445,423 4,831,556
4X4 Golf Operating & CIP 1,884,908 3,817,125 3,910,743 5,795,651 3,777,211 3,047,116 2,748,535
4X5 Water Operating & CIP 52,071,465 20,274,300 21,196,659 73,268,124 52,940,012 14,586,342 58,681,782
4X6 Waste Water Operating & CIP 26,162,847 12,484,987 13,649,871 39,812,718 29,382,722 10,844,830 28,967,888
416 King County Metro 6,589,443 21,791,462 20,475,292 27,064,735 22,191,462 19,531,455 7,533,280
4X7 Surface Water Operating & CIP 29,287,067 38,751,137 21,133,173 50,420,240 55,210,832 22,127,743 28,292,497
INTERNAL SERVICE FUNDS: 83,341,653 50,697,708 39,152,894 122,494,547 63,240,551 40,452,460 82,042,087
501 Equipment Repair/Replacement 18,278,075 7,128,821 5,892,003 24,170,078 12,446,837 6,341,766 17,828,312
502 Insurance 24,691,220 6,660,048 4,989,734 29,680,954 8,159,192 4,645,167 25,035,787
503 Information Services 9,416,600 9,605,815 6,249,620 15,666,220 15,015,636 8,559,730 7,106,490
504 Facilities 1,046,533 7,316,239 5,448,199 6,494,732 7,364,646 5,804,768 689,964
505 Communications 641,437 1,664,767 1,270,020 1,911,457 1,822,460 1,401,793 509,664
512 Insurance, Healthcare 8,946,970 17,362,018 13,714,193 22,661,163 16,402,893 12,396,713 10,264,450
522 Insurance, Leoff1 Retirees HC 20,320,818 960,000 1,589,125 21,909,943 2,028,887 1,302,523 20,607,420
FIDUCIARY FUNDS: 9,253,302 200,000 3,785,429 13,038,731 322,875 2,526,966 10,511,765
611 Firemens' Pension 9,253,302 200,000 623,174 9,876,476 322,875 247,443 9,629,033
630 Custodial Fund - - 3,162,255 3,162,255 - 2,279,523 882,732
TOTAL FUNDS 390,824,623 397,520,830 333,954,728 724,779,351 512,705,714 275,005,320 449,774,033
