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Home My WebLink AboutQUARTER 1 2025Page 1 of 28 OVERVIEW This quarterly financial report reflects the city’s revenue and expenditures/expenses for the fiscal year through March 31, 2025. A detailed analysis, including current to prior year and budget to actual comparison, is included for each city fund. This report excludes 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 6158, which includes the first quarter budget adjustment approved May 5, 2025. 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 22,432,359$ 110,490,000$ 20,052,687$ 22,293,754$ (138,605)$ 2,241,067$ 20.18% Licenses & Permits 1,935,992 5,765,000 1,865,685 2,445,686 509,694$ 580,001 42.42% Intergovernmental 4,067,884 4,913,549 1,267,463 1,218,038 (2,849,846)$ (49,425) 24.79% Charges for Services 2,964,633 11,417,028 2,938,348 3,234,075 269,442$ 295,727 28.33% Fines and Penalties 876,674 3,365,000 841,185 757,831 (118,843)$ (83,354) 22.52% Miscellaneous 2,121,559 2,923,377 787,542 1,814,783 (306,776)$ 1,027,241 62.08% Other Financing Sources (Transfer-In, etc) 11,972 946,999 946,999 11,318 (654)$ (935,681) 1.20% TOTAL REVENUES 34,411,073 139,820,953 28,699,909 31,775,485 (2,635,588) 3,075,576 22.73% EXPENDITURES City Attorney 796,455 3,886,062 967,175 838,789 (42,334) 128,386 21.58% Community and Economic Development 3,333,883 15,541,011 3,781,505 3,266,290 67,593 515,215 21.02% Council 195,716 862,719 218,930 202,606 (6,890) 16,324 23.48% Court Services 859,073 4,083,009 1,007,139 874,856 (15,783) 132,283 21.43% Executive Services 1,491,610 8,441,106 2,148,902 2,163,868 (672,258) (14,966) 25.63% Finance 1,067,379 6,418,396 1,373,447 1,242,146 (174,767) 131,301 19.35% Human Resources 416,415 2,685,331 687,942 525,279 (108,864) 162,663 19.56% Parks and Recreation 4,210,201 21,078,196 4,716,420 3,713,083 497,118 1,003,337 17.62% Police 12,780,468 54,694,365 13,642,822 13,862,343 (1,081,875) (219,521) 25.35% Public Works 4,117,695 19,244,761 4,701,440 4,397,587 (279,892) 303,853 22.85% Other Non-Departmental 492,668 15,503,041 1,078,102 408,199 84,469 669,903 2.63% TOTAL EXPENDITURES 29,761,563 152,437,997 34,323,824 31,495,046 (1,733,483) 2,828,778 20.66% Change in Fund Balance 4,649,510 (12,617,044) (5,623,915) 280,439 (4,369,071) 5,904,354 N/A Beginning Fund Balance 99,226,475 115,968,225 115,968,225 115,968,225 16,741,750 - 100.00% ENDING FUND BALANCE 103,875,985$ 103,351,181$ 110,344,310$ 116,248,664$ 12,372,679$ 5,904,354$ 112.48% Operating Reserve 17,346,914 18,294,000 18,294,000 18,294,000 Economic Development Reserve 2,500,000 2,500,000 2,500,000 2,500,000 AVAILABLE FUND BALANCE 84,029,071$ 82,557,181$ 89,550,310$ 95,454,664$ Summary of Sources and Uses Favorable (Unfavorable) 2024 2025 Variance YTD Actual Annual Budget YTD Budget YTD Actual Quarterly Financial Report 1st Quarter 2025 Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 2 of 28 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 Local Retail Sales Tax – The decrease in local retail sales tax compared to the prior year continues a trend observed at the end of 2024. This is largely due to a downturn in the construction industry, due to the timing of large projects in the prior year. The budget anticipated a 5% decrease in sales tax revenues, the amount over budget is primarily related to the services and wholesale sectors doing better than projected. Please see the March sales tax report for information regarding sales tax figures by industry. Utility Tax – The increase in utility tax, both compared to prior year and budget, is primarily driven by higher customer rates and increased usage of electricity and natural gas. The breakdown of utility tax is as follows: Gambling Excise Tax – Gambling excise tax can fluctuate based on the economy and overall consumer spend; therefore, budget is established on historical average from prior years. Current year revenue is trending lower than in prior years due to a reduction in consumer spend from card games tax; although still above projected budget. Business and Occupation (B&O) Tax – B&O tax budget is based on a historical average of the last 2 years, which includes lower revenues received in prior years. Due to an increase in B&O tax revenues in recent years from a combination of a strong economy supported by consumer spend, a change in the city’s tax structure, and the receipt of prior tax assessments, first quarter revenue is higher than budget. 2024 2025 2025 Actual Budget Actual $ % $ % Property Tax 1,239,200 1,216,737 1,213,227 (25,973) -2.1% (3,510) -0.3% Local Retail Sales Tax 9,669,998 8,885,884 9,263,650 (406,348) -4.2%377,766 4.3% State Sales Tax Credit 55,117 57,051 58,083 2,966 5.4% 1,032 1.8% Criminal Justice Sales Tax 948,067 889,948 983,688 35,621 3.8% 93,740 10.5% Natural Gas Use Tax 89,159 89,770 72,141 (17,018) -19.1% (17,629) -19.6% Admission Tax 252,182 194,431 240,035 (12,147) -4.8%45,604 23.5% Utility Tax 5,046,478 4,863,794 5,575,647 529,169 10.5% 711,853 14.6% Leasehold Excise Tax 55,939 49,540 44,986 (10,953) -19.6% (4,554) -9.2% Gambling Excise Tax 1,140,692 686,677 889,672 (251,020) -22.0%202,995 29.6% B&O Tax 3,935,527 3,118,856 3,952,625 17,098 0.4% 833,769 26.7% YTD Total 22,432,359$ 20,052,687$ 22,293,754$ (138,605)$ -0.6%2,241,067$ 11.2% Annual Total 117,053,045$ 110,490,000$ Taxes by Type Revenue 2025 vs. 2024 2025 vs. Budget Year to Date through March 2024 2025 2025 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Electrical 1,967,158$ 1,824,550$ 2,214,452$ 247,294$ 12.6% $ 389,902 21.4% Natural Gas 720,097 787,470 929,203 209,106 29.0% 141,733 18.0% Cell 128,878 114,291 120,546 (8,332) -6.5% 6,255 5.5% Phone 157,017 160,904 160,342 3,325 2.1% (562) -0.3% Cable 290,110 323,949 351,715 61,605 21.2% 27,766 8.6% Garbage 196,818 187,995 196,758 (60) 0.0% 8,763 4.7% City Utilities 1,586,400 1,464,635 1,602,631 16,231 1.0% 137,996 9.4% YTD Total 5,046,478$ 4,863,794$ 5,575,647$ 529,169$ 10.5%711,853$ 14.6% 2025 vs. 2024 2025 vs. Budget Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 3 of 28 LICENSES & PERMITS Business Licenses – The increase from prior year is due to an increase in new business licenses opened in the city and efforts to identify and contact unregistered businesses. Building Permits – Building permits are collected upon permit issuance. The increase from prior year and budget is primarily related to a large building improvement project for Tesla Support and Collision Center and the Seahawks Athletic Training Center interior renovations. The quantity of building permits increased by 21 percent compared to the same period in 2024. INTERGOVERNMENTAL State Shared Revenue – State shared revenue is based on consumer spend and can fluctuate from year to year as the economy fluctuates. 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 from prior year is largely due to recognizing the remaining ARPA grant funds of $2.6M in Q1 of 2024 and receiving a state grant of $170K. 2024 2025 2025 Actual Budget Actual $ % $ % Franchise Fees 347,228 352,754 287,838 (59,390) -17.1% (64,914) -18.4% Business Licenses 710,006 741,441 833,613 123,607 17.4% 92,172 12.4% Animal Licenses 14,260 16,571 13,550 (710) -5.0% (3,021) -18.2% Building Permits 855,873 747,021 1,304,189 448,316 52.4% 557,169 74.6% ROW/Street Excavation Permits 8,540 7,898 6,495 (2,045) -23.9% (1,403) -17.8% Special Event Permits 85 - - (85) 0.0% - N/A YTD Total 1,935,992$ 1,865,685$ 2,445,686$ 509,694$ 26.3% 580,002$ 31.1% Annual Total 6,589,771$ 5,765,000$ Year to Date through March Revenue 2025 vs. 2024 2025 vs. Budget Licenses & Permits by Type 2024 2025 2025 Actual Budget Actual $ % $ % State Shared Revenue 959,863 946,102$ 985,251 25,388$ 2.6% 39,149$ 4.1% Federal Grants 2,742,405 94,555 64,151 (2,678,254) -97.7% (30,404) -32.2% State Grants 253,479 194,646 97,636 (155,843) -61.5% (97,010) -49.8% Local Grants 112,137 32,160 71,000 (41,137) -36.7%38,840 120.8% YTD Total 4,067,884$ 1,267,463$ 1,218,038$ (2,849,846)$ -70.1% (49,425)$ -3.9% Annual Total 7,887,395$ 4,913,549$ Intergovernmental by Type Revenue 2025 vs. 2024 2025 vs. Budget Year to Date through March 2024 2025 2025 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Judicial Contribution -$ 6,262$ 11,195$ 11,195$ N/A 4,933$ 78.8% Crim Just - High Crime - - 90,622 90,622 N/A 90,622 100.0% Crim Just - Pop 9,956 6,039 10,615 659 6.6% 4,576 75.8% Crim Just - Spec Prog 35,058 24,213 37,220 2,162 6.2% 13,007 53.7% State DUI 3,556 2,055 2,306 (1,250) -35.2%251 12.2% Marijuana Distribution 81,240 65,398 67,713 (13,527) -16.7%2,315 3.5% Liquor Profits 203,641 199,997 202,785 (856) -0.4%2,788 1.4% Liquor Excise Tax 181,696 180,341 173,723 (7,973) 95.6%(6,618) -3.7% Fuel Tax 444,716 461,797 389,072 (55,644) -12.5% (72,725) -15.7% YTD Total 959,863$ 946,102$ 985,251$ 25,388$ 2.6%39,149$ 4.1% 2025 vs. 2024 2025 vs. Budget Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 4 of 28 CHARGES FOR SERVICES Public Safety Services – The higher-than-budgeted revenue in public safety services is primarily attributable to a one time increase for private security services at a local business. This agreement was not included in the budget and is not expected to be ongoing. Development Services –The increase from prior year and over budget is due to building and construction plan review and approval fees for projects taking place in the city by external companies, such as the Seahawks Athletic Training Center interior renovations, UW Medical Center renovation, and South Renton Transit Center construction of facilities. Interfund Services – Interfund services revenue increased from prior year due to a combination of cost-of-living salary increases and the general fund reallocation of communication costs beginning in 2025. FINES AND PENALTIES Photo Enforcement Program – Photo enforcement is under budget and prior year due to a combination of a decrease in red light infractions issued and a decline in the collection rate on outstanding infractions owed. Non-Court Fines, Forfeitures and Penalties – The increase over prior year is due to a reclassification of fines and penalties related to B&O tax. The amount over budget is due to higher levels of business license penalties and code violations. MISCELLANEOUS REVENUES 2024 2025 2025 Actual Budget Actual $ % $ % Passport Fees 2,425 2,542 2,520 95 3.9%(22) -0.8% Court Services 49,126 44,157 20,584 (28,541) -58.1% (23,572) -53.4% General Government Services 37 - 10 (27) -72.8%10 100.0% Public Safety Services 287,452 160,337 358,676 71,224 24.8% 198,339 123.7% Development Services 690,236 546,802 731,979 41,743 6.0% 185,177 33.9% Transportation Services - - 9,566 9,565 100.0% 9,565 100.0% Social Services 15,000 - 37 (14,963) -99.8%37 100.0% Parks and Recreation Fees 234,815 271,144 221,461 (13,354) -5.7% (49,683) -18.3% Interfund Services 1,685,542 1,913,368 1,889,242 203,700 12.1%(24,126) -1.3% YTD Total 2,964,633$ 2,938,348$ 3,234,075$ 269,442$ 9.1% 295,727$ 10.1% Annual Total 11,654,429$ 11,417,028$ Year to Date through March Charges for Services by Type Revenue 2025 vs. 2024 2025 vs. Budget 2024 2025 2025 Actual Budget Actual $ % $ % Civil Penalties 55,969$ 54,397$ 57,108$ 1,139$ 2.0% 2,711$ 5.0% Photo Enforcement Program 753,474 765,608 550,716 (202,758) -26.9% (214,892) -28.1% Criminal Traffic Misdemeanor Fines 3,233 6,922 1,378 (1,855) -57.4% (5,545) -80.1% Criminal Non-Traffic Fines 204 1,356 183 (21) -10.5% (1,173) -86.5% Criminal Costs 4,744 4,653 2,530 (2,214) -46.7% (2,122) -45.6% Non-Court Fines, Forfeitures and Penalties 59,050 8,249 145,916 86,866 147.1% 137,668 1669.0% YTD Total 876,674$ 841,185$ 757,831$ (118,843)$ -13.6% (83,354)$ -9.9% Annual Total 3,894,478$ 3,365,000$ Year to Date through March Revenue 2025 vs. 2024 2025 vs. Budget Fines and Penalties by Type 2024 2025 2025 Actual Budget Actual $ % $ % Interest and Other Investment Earnings 1,059,206$ 230,014$ 1,175,045$ 115,839$ 10.9% 945,031$ 410.9% Rents, Leases, and Concessions 574,122 484,874 554,080 (20,042) -3.5%69,206 14.3% Contributions/Donations from Private Sources 47,726 22,831 3,278 (44,448) -93.1% (19,553) -85.6% Other 440,505 49,823 82,380 (358,125) -81.3%32,557 65.3% YTD Total 2,121,559$ 787,542$ 1,814,783$ (306,776)$ -14.5%1,027,241$ 130.4% Annual Total 8,111,154$ 2,923,377$ Year to Date through March Revenue 2025 vs. 2024 2025 vs. Budget Miscellaneous by Type Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 5 of 28 Interest and Other Investment Earnings – Investment earnings have varied over the past couple of years as the market has seen large fluctuations in interest rates and is highly influenced by the federal funds rate. 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 46% of the total cash and investments for the city in the LGIP. The budget anticipated a decrease in interest rates however the federal fund rates have yet to decrease in 2025. Other – The decrease from prior year is due to two substantial opioid settlements in the amount of $358K received in Q1 2024. These settlements are one-time funding. OTHER FINANCING SOURCES Transfers from Other Funds – The amount under budget is due to timing of budgeted transfers. Annual transfers occur in December each year. GENERAL FUND EXPENDITURES The following table summarizes 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 the restructuring of the communications staff costs which were previously reported as an internal service fund and are now reported in the general fund. 2025 figures also include newly approved positions, and cost-of-living adjustments. Personnel costs under budget are due to open positions; there are currently 64 vacancies as of March 31st. Contracted Services - The amount under budget is due to several one-time programs and projects that are in initial phases, as well as reserves and legal services for non-departmental use. Projects and programs under budget include citywide cleanup, human services programs, and the Crime Prevention Through Environmental Design (CPTED) project. Actual costs decreased from prior year due to lower jail services compared to the same period in 2024 and a decrease due to discontinuing the downtown safety agent contract at the end of 2024. Internal Services – The increase from prior year is due to increased costs in the internal service funds for cost-of- living adjustments and adjustments made to maintain operational reserves for internal service funds. 2024 2025 2025 Actual Budget Actual $ % $ % Transfers from Other Funds -$ 900,000$ -$ - N/A (900,000) 0.0% Interfund Loan Payment Received 11,203 46,999 11,318 115 1.0%(35,681) -75.9% Insurance Recoveries 769$ -$ -$ (769) 0.0% - N/A YTD Total 11,972$ 946,999$ 11,318$ (654)$ -5.5% (935,681)$ -98.8% Annual Total 1,079,079$ 946,999$ Year to Date through March Other Financing Sources by Type Revenue 2025 vs. 2024 2025 vs. Budget General Fund Summary of Uses 2024 Year to Date through March YTD Actual YTD Budget YTD Actual $%$% Personnel 18,534,886$ 22,450,852$ 19,963,726$ (1,428,840)$ -7.7%2,487,126$ 11.1% Supplies 457,234 393,704 448,189 9,045 2.0%(54,485) -13.8% Contracted Services 5,480,492 5,783,145 5,374,199 106,293 1.9% 408,946 7.1% Capital Outlay 45,303 6,258 17,355 27,948 61.7%(11,097) -177.3% Internal Services 5,243,648 5,664,246 5,665,959 (422,311) -8.1% (1,713) 0.0% Transfers Out - 25,618 25,618 (25,618) 100.0% - 0.0% Total Expenditures 29,761,563 34,323,824 31,495,046 (1,733,483) -5.8% 2,828,778 8.2% Annual Total 139,527,678 152,437,997 2025 2025 vs. 2024 2025 vs. Budget Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 6 of 28 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. Detailed explanations will be provided for material annual budget differences at year-end. GENERAL GOVERNMENTAL MISCELLANEOUS DEBT FUND The General Governmental Miscellaneous Debt Fund is the only debt service fund maintained by the city. 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 annual budget differences at year-end. 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. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 16,191$ -$ -$ (16,191)$ -$ N/A Investment Earnings 51,054 - 52,436 1,382 52,436 N/A TOTAL REVENUES 67,245 - 52,436 (14,809) 52,436 N/A EXPENDITURES: Principal - 2,075,000 - - 2,075,000 0.00% Interest 17,308 877,717 13,846 3,462 863,871 1.58% TOTAL EXPENDITURES 17,308 2,952,717 13,846 3,462 2,938,871 0.47% Transfers In - 2,923,225 - - (2,923,225) 0.00% NET TRANSFERS - 2,923,225 - - (2,923,225) 0.00% CHANGE IN FUND BALANCE 49,938 (29,492) 38,590 (11,348) 68,082 N/A BEGINNING FUND BALANCE, Jan 1 5,412,174 5,812,247 5,812,247 400,073 - 100.00% ENDING FUND BALANCE, Mar 31 5,462,112$ 5,782,755$ 5,850,837$ 388,725$ 68,082$ 101.18% Debt Service Reserve 2,717,575 2,717,575 2,717,575 AVAILABLE FUND BALANCE 2,744,537$ 3,065,180$ 3,133,262$ VARIANCE FAVORABLE (UNFAVORABLE) GENERAL GOVERNMENTAL MISCELLANEOUS DEBT 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 100,559$ 350,000$ 74,971$ (25,588)$ (275,029)$ 21.42% Contributions 20,000 5,000 - (20,000) (5,000) 0.00% Investment Earnings 8,911 - 11,063 2,152 11,063 N/A TOTAL REVENUES 129,470 355,000 86,034 (43,436) (268,966) 24.23% EXPENDITURES: Contracted Services 39,016 644,939 22,500 16,516 622,439 3.49% TOTAL EXPENDITURES 39,016 644,939 22,500 16,516 622,439 3.49% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 90,454 (289,939) 63,534 (26,920) 353,473 -21.91% BEGINNING FUND BALANCE, Jan 1 889,271 1,184,977 1,184,977 295,706 - 133.25% ENDING FUND BALANCE, Mar 31 979,725$ 895,038$ 1,248,511$ 268,786$ 353,473$ 127.43% VARIANCE FAVORABLE (UNFAVORABLE) HOTEL/MOTEL Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 7 of 28 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. Investment Earnings – See explanation on page 5. Contracted Services – The increase over prior year is due to a new two year contract with the Renton School District to support a Renton Student Health Hub that began in Q4 2024. The payments for the project are based on completion of project phases, which is to continue through 2026. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 12,083$ 60,000$ 10,576$ (1,507)$ (49,424)$ 17.63% Investment Earnings 3,600 - 3,418 (182) 3,418 N/A TOTAL REVENUES 15,683 60,000 13,994 (1,689) (46,006) 23.32% EXPENDITURES: Supplies - 6,302 - - 6,302 0.00% Contracted Services 14,391 51,372 7,500 (6,891) 43,872 14.60% Capital Outlay - 40,000 - - 40,000 0.00% TOTAL EXPENDITURES 14,391 97,674 7,500 (6,891) 90,174 7.68% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 1,292 (37,674) 6,494 5,202 44,168 N/A BEGINNING FUND BALANCE, Jan 1 358,300 372,210 372,210 13,910 - 100.00% ENDING FUND BALANCE, Mar 31 359,592$ 334,536$ 378,704$ 19,112$ 44,168$ 113.20% CABLE COMMUNICATIONS VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 1,133,268$ 4,000,000$ 1,088,697$ (44,571)$ (2,911,303)$ 27.22% Investment Earnings 105,650 30,000 142,287 36,637 112,287 474.29% TOTAL REVENUES 1,238,918 4,030,000 1,230,984 (7,934) (2,799,016) 30.55% EXPENDITURES: Contracted Services 49,500 3,195,719 180,365 130,865 3,015,354 5.64% TOTAL EXPENDITURES 49,500 3,195,719 180,365 130,865 3,015,354 5.64% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 1,189,418 834,281 1,050,619 (138,799) 216,338 125.93% BEGINNING FUND BALANCE, Jan 1 10,811,847 15,430,640 15,430,640 4,618,793 - 100.00% ENDING FUND BALANCE, Mar 31 12,001,265$ 16,264,921$ 16,481,259$ 4,479,994$ 216,338$ 101.33% HOUSING & SUPPORTIVE SERVICES VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 8 of 28 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 Funds The Police Seizure and CSAM Funds were 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, RCW 9A.88.150 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, or for provisions of chapter 9A.88 RCW, Indecent Exposure-Prostitution, or chapter 9.68A RCW, Sexual Exploitation of Children. The total fund balance remaining at the end of the year is budgeted in full the following year in the supplies line item and contracted services line item for CSAM. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 4,132$ -$ 4,256$ 124$ 4,256$ N/A Investment Earnings 6,723 - 6,538 (185) 6,538 N/A TOTAL REVENUES 10,855 - 10,794 (61) 10,794 N/A EXPENDITURES: Personnel 2,536 - 1,894 641 (1,894) N/A Contracted Services - 40,000 901 (901) 39,099 2.25% TOTAL EXPENDITURES 2,536 40,000 2,796 (260) 37,204 6.99% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 8,319 (40,000) 7,998 (321) 47,998 N/A BEGINNING FUND BALANCE, Jan 1 711,119 722,963 722,963 11,844 - 100.00% ENDING FUND BALANCE, Mar 31 719,438$ 682,963$ 730,961$ 11,523$ 47,998$ 107.03% SPRINGBROOK WETLANDS VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Contributions 1,222$ -$ 39,868$ 38,646$ 39,868$ N/A Investment Earnings 6,432 - 7,029 597 7,029 N/A TOTAL REVENUES 7,654 - 46,897 39,243 46,897 N/A EXPENDITURES: Supplies 7,763 790,432 29,175 21,412 761,257 3.69% Contracted Services 64,949 - 2,311 (62,638) (2,311) N/A Capital Outlay 86,900 - 10,672 (76,228) (10,672) N/A TOTAL EXPENDITURES 159,612 790,432 42,158 (117,454) 748,274 5.33% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE (151,958) (790,432) 4,739 156,697 795,171 N/A BEGINNING FUND BALANCE, Jan 1 731,929 790,432 790,433 58,504 1 100.00% ENDING FUND BALANCE, Mar 31 579,971$ -$ 795,172$ 215,201$ 795,172$ N/A POLICE SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 9 of 28 Affordable Housing Development Fund The Affordable Housing Development Fund was created in 2024, per ordinance 6137. The city expanded its current affordable housing program under RMC-4-9-065 to allow receipt of additional payment from developers who prefer to contribute financially towards the development of low-income housing rather than incorporate such housing within developments. The purpose of the fund is to provide a way to account for revenue and expenditure of said payments. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Fines and penalties 1,670$ -$ -$ (1,670)$ -$ N/A Investment Earnings 1,349 - 1,203 (146) 1,203 N/A TOTAL REVENUES 3,019 - 1,203 (1,816) 1,203 N/A EXPENDITURES: Supplies - - 272 272 (272) N/A Contracted Services 44 132,667 390 346 132,276 0.29% Capital Outlay 40,278 - - (40,278) - N/A TOTAL EXPENDITURES 40,322 132,667 662 (39,660) 132,005 0.50% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE (37,303) (132,667) 541 37,844 133,208 N/A BEGINNING FUND BALANCE, Jan 1 169,577 132,667 132,667 (36,910) - 100.00% ENDING FUND BALANCE, Mar 31 132,274$ -$ 133,208$ 934$ 133,208$ N/A POLICE CSAM SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services -$ -$ -$ -$ -$ N/A Investment Earnings - - 2,611 2,611 2,611 N/A TOTAL REVENUES - - 2,611 2,611 2,611 N/A EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE - - 2,611 2,611 2,611 N/A BEGINNING FUND BALANCE, Jan 1 - 292,923 292,923 292,923 - 100.00% ENDING FUND BALANCE, Mar 31 -$ 292,923$ 295,534$ 295,534$ 2,611$ 100.89% AFFORDABLE HOUSING DEVELOPMENT VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 10 of 28 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. The impact fee collections are subsequently disbursed to the Renton Regional Fire Authority for use on qualifying capital projects. School District Impact Mitigation This fund accounts for school district impact fees collected from developers as authorized by RCW 82.02.050-.110. These fees are used to help offset the cost of improvements to service the new development. Impact fees are held in this fund and subsequently transferred to the Kent, Issaquah, or Renton School District for qualifying capital projects. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 12,807$ 200,000$ 11,351$ (1,456)$ (188,649)$ 5.68% TOTAL REVENUES 12,807 200,000 11,351 (1,456) (188,649) 5.68% EXPENDITURES: Contracted Services 9,010 200,000 12,152 3,143 187,848 6.08% TOTAL EXPENDITURES 9,010 200,000 12,152 3,143 187,848 6.08% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 3,797 - (801) (4,598) (801) N/A BEGINNING FUND BALANCE, Jan 1 - 2,490 2,490 2,490 - 100.00% ENDING FUND BALANCE, Mar 31 3,797$ 2,490$ 1,689$ (2,108)$ (801)$ 67.83% FIRE IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 45,764$ 600,000$ 36,250$ (9,514)$ (563,750)$ 6.04% Investment Earnings 178 - 382 204 382 N/A TOTAL REVENUES 45,942 600,000 36,632 (9,310) (563,368) 6.11% EXPENDITURES: Contracted Services 17,739 600,000 30,672 12,933 569,328 5.11% TOTAL EXPENDITURES 17,739 600,000 30,672 12,933 569,328 5.11% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 28,203 - 5,960 (22,243) 5,960 N/A BEGINNING FUND BALANCE, Jan 1 33 2,367 2,367 2,334 - 100.00% ENDING FUND BALANCE, Mar 31 28,236$ 2,367$ 8,327$ (19,909)$ 5,960$ 351.80% SCHOOL DISTRICT IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 11 of 28 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 improvements 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. 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 increase from prior year is primarily due to permit revenue related to Tesla Support & Collision Center project. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 49,147$ 100,000$ 81,911$ 32,764$ (18,089)$ 81.91% Investment Earnings 6,483 - 3,584 (2,899) 3,584 N/A TOTAL REVENUES 55,630 100,000 85,495 29,865 (14,505) 85.50% EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A Transfers In - - - - - N/A Transfers Out - (105,000) - - (105,000) 0.00% NET TRANSFERS - (105,000) - - 105,000 0.00% CHANGE IN FUND BALANCE 55,630 (5,000) 85,495 29,865 90,495 -1709.90% BEGINNING FUND BALANCE, Jan 1 681,332 359,743 359,743 (321,589) - 100.00% ENDING FUND BALANCE, Mar 31 736,962$ 354,743$ 445,238$ (291,724)$ 90,495$ 125.51% COMMUNITY SERVICES IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 329,423$ 1,000,000$ 711,198$ 381,776$ (288,802)$ 71.12% Investment Earnings 21,644 - 34,754 13,110 34,754 N/A TOTAL REVENUES 351,067 1,000,000 745,952 394,886 (254,048) 74.60% EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A Transfers In - - - - - N/A Transfers Out - (250,000) - - (250,000) 0.00% NET TRANSFERS - (250,000) - - (250,000) 0.00% CHANGE IN FUND BALANCE 351,067 750,000 745,952 394,885 (4,048) N/A BEGINNING FUND BALANCE, Jan 1 2,220,269 3,613,321 3,613,321 1,393,052 - 100.00% ENDING FUND BALANCE, Mar 31 2,571,336$ 4,363,321$ 4,359,273$ 1,787,937$ (4,048)$ 99.91% TRANSPORTATION IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 12 of 28 REET 1 and REET 2 Funds These funds were established in the 2nd quarter of 2020 to account for the first and second quarter percent of real estate excise tax (REET) levied in accordance with RCW 82.46.010 and RCW 82.46.035. The tax may be used for eligible capital projects, as defined in RCW.82.46.010(6) or RCW.82.46.035(5), that are included in the capital facilities element of the city’s comprehensive plan. REET tax revenues are held in the respective fund and subsequently transferred to the appropriate capital project fund when qualifying projects are budgeted. REET 1 and REET 2 Taxes – The decrease in taxes from prior year are due to decreased real estate transactions as real estate sales slowed with the higher cost to borrow money. The current year decrease is also due to a large sale of a hotel and conference center that occurred in 2024 ($180K). 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 613,940$ 2,500,000$ 489,522$ (124,418)$ (2,010,478)$ 19.58% Investment Earnings 18,749 20,000 46,611 27,862 26,611 233.06% TOTAL REVENUES 632,689 2,520,000 536,133 (96,556) (1,983,867) 21.28% EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A Transfers In - - - - - N/A Transfers Out - (4,560,000) - - (4,560,000) 0.00% NET TRANSFERS - (4,560,000) - - 4,560,000 0.00% CHANGE IN FUND BALANCE 632,689 (2,040,000) 536,133 (96,556) 2,576,133 -26.28% BEGINNING FUND BALANCE, Jan 1 1,765,153 5,060,894 5,060,894 3,295,741 - 100.00% ENDING FUND BALANCE, Mar 31 2,397,842$ 3,020,894$ 5,597,027$ 3,199,185$ 2,576,133$ 185.28% REET 1 VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 613,940$ 2,500,000$ 489,521$ (124,419)$ (2,010,479)$ 19.58% Investment Earnings 31,730 20,000 22,259 (9,471) 2,259 111.30% TOTAL REVENUES 645,670 2,520,000 511,780 (133,890) (2,008,220) 20.31% EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A Transfers In - - - - - N/A Transfers Out - (2,799,625) - - (2,799,625) 0.00% NET TRANSFERS - (2,799,625) - - 2,799,625 0.00% CHANGE IN FUND BALANCE 645,670 (279,625) 511,780 (133,890) 791,405 -183.02% BEGINNING FUND BALANCE, Jan 1 3,145,503 2,312,665 2,312,665 (832,838) - 100.00% ENDING FUND BALANCE, Mar 31 3,791,173$ 2,033,040$ 2,824,445$ (966,728)$ 791,405$ 138.93% REET 2 VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 13 of 28 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. Budgeted 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 decrease from prior year is largely due to receiving grant funds for the Downtown Streetscape project in 2024 ($726K). Investment Earnings –See explanation on page 5. Contracted Services – Contracted services are largely project driven and are dependent on the project timeline. The decrease from prior year is due to the building demolition of a city facility near the Airport in Q1 of 2024 ($177K). Capital Outlay – Capital outlay fluctuates greatly with capital project schedules and contractor’s billings. The decrease from prior year is due to projects completed in 2024 or in the final phase of the project, such as Downtown Streetscapes, and ESCO Project Phase 3. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 726,675$ 6,849,530$ -$ (726,675)$ (6,849,530)$ 0.00% Charges for services - - 5,500 5,500 5,500 N/A Contributions - 25,000 - - (25,000) 0.00% Investment Earnings 208,261 100,000 254,953 46,692 154,953 254.95% TOTAL REVENUES 934,936 6,974,530 260,453 (674,483) (6,714,077) 3.73% EXPENDITURES: Personnel 10,335 - 31,686 21,351 (31,686) N/A Contracted Services 355,669 4,189,904 191,677 (163,992) 3,998,227 4.57% Capital Outlay 1,007,208 29,760,840 338,485 (668,723) 29,422,355 1.14% TOTAL EXPENDITURES 1,373,212 33,950,744 561,848 (811,364) 33,388,896 1.65% Transfers In - 8,732,000 - - (8,732,000) 0.00% NET TRANSFERS - 8,732,000 - - (8,732,000) 0.00% CHANGE IN FUND BALANCE (438,276) (18,244,214) (301,395) 136,881 17,942,819 1.65% BEGINNING FUND BALANCE, Jan 1 21,980,020 28,180,516 28,180,516 6,200,496 - 100.00% ENDING FUND BALANCE, Mar 31 21,541,744$ 9,936,302$ 27,879,121$ 6,337,377$ 17,942,819$ 280.58% MUNICIPAL FACILITIES CIP VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 14 of 28 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. Taxes – Effective April 1, 2024, under RCW 82.14.0455, a Transportation Benefit District (TBD) was established to increase the sales tax rate 0.1 percent to fund transportation projects, specifically street overlay and sidewalk repair. The city began collecting the revenue in Q3 2024. 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 for the Rainier Ave Phase 4 project, $4.5M received in Q1 of 2025. Contributions – The amount over prior year is due to the contribution from private utilities for the Rainier Ave Phase 4 project for the joint trench utilities, $1M received in 2025. Investment Earnings –See explanation on page 5. Capital Outlay – Decrease in capital outlay expenditures from prior year is due to the timing of costs for many large ongoing projects that incurred more costs during 2024, such as Rainier Phase 4 ($250K), Bronson Bridge project ($320K), Park Avenue Extension ($300K), and South 7th Street project ($180K). 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes -$ 3,962,726$ 1,075,680$ 1,075,680$ (2,887,046)$ 27.14% Grants / intergovernmental 2,925,838 20,696,684 4,554,671 1,628,833 (16,142,013) 22.01% Charges for services - 90,000 - - (90,000) 0.00% Contributions - 3,926,572 1,156,257 1,156,257 (2,770,315) 29.45% Investment Earnings 153,298 75,000 148,209 (5,089) 73,209 197.61% TOTAL REVENUES 3,079,136 28,750,982 6,934,817 3,855,681 (21,816,165) 24.12% EXPENDITURES: Personnel 13,881 - 61,343 47,462 (61,343) N/A Supplies - - 6,965 6,965 (6,965) N/A Contracted Services 28,249 995,926 48,682 20,433 947,244 4.89% Capital Outlay 3,860,470 40,519,494 2,507,599 (1,352,871) 38,011,895 6.19% Internal Services 14,000 - - (14,000) - N/A TOTAL EXPENDITURES 3,916,600 41,515,420 2,624,589 (1,292,011) 38,890,831 6.32% Transfers In - 4,126,000 - - (4,126,000) 0.00% NET TRANSFERS - 4,126,000 - - (4,126,000) 0.00% CHANGE IN FUND BALANCE (837,464) (8,638,438) 4,310,228 5,147,692 12,948,666 N/A BEGINNING FUND BALANCE, Jan 1 15,282,117 14,132,445 14,132,445 (1,149,672) - 100.00% ENDING FUND BALANCE, Mar 31 14,444,653$ 5,494,007$ 18,442,673$ 3,998,020$ 12,948,666$ 335.69% VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 15 of 28 Family First Center Fund This fund is used to account for the construction of the new Family First Center, which was substantially completed in 2023. The fund will remain open until formal action is taken to close the fund for financial transactions in 2025. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Contributions 17,548$ -$ -$ (17,548)$ -$ N/A Investment Earnings 34,422 - 35,577 1,155 35,577 N/A TOTAL REVENUES 51,970 - 35,577 (16,393) 35,577 N/A EXPENDITURES: TOTAL EXPENDITURES - - - - - N/A NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE 51,970 - 35,577 (16,393) 35,577 N/A BEGINNING FUND BALANCE, Jan 1 3,643,436 3,937,547 3,937,547 294,111 - 100.00% ENDING FUND BALANCE, Mar 31 3,695,406$ 3,937,547$ 3,973,124$ 277,718$ 35,577$ 100.90% FAMILY FIRST CENTER VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 16 of 28 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. Detailed explanations will be provided for material annual budget differences at year-end. 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 annual budget differences at year-end. Airport Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the Renton Municipal Airport. Grants/Intergovernmental – Federal grant revenue can vary year-to-year based on volume of grant awards procured, timing of grant expenditures, and reimbursement of related expenditure. The decrease from prior year is largely due to the receipt of an FAA grant ($260K) in 2024 for the Taxiway Alpha Rehabilitation project. Charges for Services – The increase over prior year is due to the timing of the receipt of lease payments. Capital Outlay – The decrease from prior year is due significant work occurring on the Airport Office Rehab project in Q1 2024 ($400K). 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 272,007$ 77,963$ -$ (272,007)$ (77,963)$ 0.00% Charges for services 1,132,832 4,899,430 1,431,906 299,074 (3,467,524) 29.23% Interest and other misc 108,655 169,958 132,971 24,316 (36,987) 78.24% TOTAL REVENUES 1,513,494 5,147,351 1,564,877 51,383 (3,582,474) 30.40% EXPENSES: Personnel 291,904 1,752,471 353,158 (61,254) 1,399,313 20.15% Supplies 23,347 74,089 10,271 13,076 63,818 13.86% Contracted Services 133,949 502,162 121,031 12,918 381,131 24.10% Internal Services 114,387 555,294 138,824 (24,437) 416,470 25.00% TOTAL OPERATING EXPENSES 563,587 2,884,016 623,284 (59,697) 2,260,732 21.61% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 949,907 2,263,335 941,593 (8,314) (1,321,742) 41.60% CAPITAL OUTLAY 467,048 8,895,225 94,707 372,341 8,800,518 1.06% CHANGE IN FUND BALANCE 482,859 (6,631,890) 846,886 364,027 7,478,776 N/A BEGINNING FUND BALANCE, Jan 1 11,276,837 13,353,300 13,353,300 2,076,463 - 100.00% ENDING FUND BALANCE, Mar 31 11,759,696$ 6,721,410$ 14,200,186$ 2,440,490$ 7,478,776$ 211.27% Operating Reserve 266,810 285,902 285,902 AVAILABLE FUND BALANCE 11,492,886$ 6,435,508$ 13,914,284$ VARIANCE FAVORABLE (UNFAVORABLE) AIRPORT Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 17 of 28 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 – The increase from prior year is due to solid waste rates increasing in 2025 by 6%. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental -$ 405,921$ 69,886$ 69,886$ (336,035)$ 17.22% Charges for services 6,502,052 26,728,744 7,085,448 583,396 (19,643,296) 26.51% Interest and other misc 34,428 5,000 39,935 5,507 34,935 798.70% TOTAL REVENUES 6,536,480 27,139,665 7,195,269 658,789 (19,944,396) 26.51% EXPENSES: Personnel 157,446 741,287 159,568 (2,122) 581,719 21.53% Supplies 2,720 28,100 15,000 (12,280) 13,100 53.38% Contracted Services 5,807,537 26,197,417 5,718,335 89,202 20,479,082 21.83% Internal Services 135,978 632,144 158,036 (22,058) 474,108 25.00% TOTAL OPERATING EXPENSES 6,103,681 27,598,948 6,050,939 52,742 21,548,009 21.92% CHANGE IN FUND BALANCE 432,799 (459,283) 1,144,330 711,531 1,603,613 N/A BEGINNING FUND BALANCE, Jan 1 3,928,543 3,972,833 3,972,833 44,290 - 100.00% ENDING FUND BALANCE, Mar 31 4,361,342$ 3,513,550$ 5,117,163$ 755,821$ 1,603,613$ 145.64% Operating Reserve 400,000 400,000 400,000 AVAILABLE FUND BALANCE 3,961,342$ 3,113,550$ 4,717,163$ SOLID WASTE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 18 of 28 Golf Course Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the Maplewood Golf Course. Budgeted transfers are typically recorded annually in December, therefore, throughout the year transfers may show variances between current year budget and actuals. Charges for Services – The decrease in charges for services is due to the driving range closure for the restoration project. Also, the golf course was closed for several days in February due to winter weather. Capital Outlay – Capital outlay will vary year over year based on the planned projects overall. The increase over prior year is due to the driving range surface replacement. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 446,946$ 3,348,080$ 256,713$ (190,233)$ (3,091,367)$ 7.67% Rents, leases, and misc fees 58,807 545,050 43,377 (15,430) (501,673) 7.96% Interest and other misc 21,335 1,370 26,158 4,823 24,788 1909.34% TOTAL REVENUES 527,088 3,894,500 326,248 (200,840) (3,568,252) 8.38% EXPENSES: Personnel 420,084 2,139,080 425,572 (5,488) 1,713,508 19.90% Supplies 76,240 422,800 83,598 (7,358) 339,202 19.77% Contracted Services 53,102 597,761 55,309 (2,207) 542,452 9.25% Internal Services 120,100 634,685 158,671 (38,571) 476,014 25.00% TOTAL OPERATING EXPENSES 669,526 3,794,326 723,150 (53,624) 3,071,176 19.06% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND (142,438) 100,174 (396,902) (254,464) (497,076) -396.21% DEBT SERVICE: Principal 11,203 45,434 11,316 (113) 34,118 24.91% Interest 351 782 238 113 544 30.43% TOTAL DEBT SERVICE 11,554 46,216 11,554 - 34,662 25.00% CAPITAL OUTLAY - 767,631 173,287 (173,287) 594,344 22.57% TRANSFERS IN 41,250 653,100 163,275 122,025 (489,825) 25.00% TRANSFERS OUT (41,250) (653,100) (163,275) 122,025 (489,825) 25.00% NET TRANSFERS - - - - - N/A CHANGE IN FUND BALANCE (153,992) (713,673) (581,743) (427,751) 131,930 N/A BEGINNING FUND BALANCE, Jan 1 1,884,907 2,611,726 2,611,726 726,819 - 100.00% ENDING FUND BALANCE, Mar 31 1,730,915$ 1,898,053$ 2,029,983$ 299,068$ 131,930$ 106.95% Operating Reserve 764,018 1,022,854 1,022,854 AVAILABLE FUND BALANCE 966,897$ 875,199$ 1,007,129$ GOLF COURSE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 19 of 28 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. 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. The primary driver of the decrease from prior year is the Sunset Gardens Water System Project with $120K received in 2024. Interest and Other Misc. – See explanation on page 5. Capital Outlay –The increase from prior year is driven by the timing of the water replacement project, which incurred $2M in Q1. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 120,150$ -$ -$ (120,150)$ -$ N/A Charges for services 4,076,218 19,699,293 4,026,334 (49,884) (15,672,959) 20.44% Rents, leases, and misc fees 45,058 136,591 40,411 (4,647) (96,180) 29.59% Interest and other misc 743,930 46,000 527,764 (216,166) 481,764 1147.31% TOTAL REVENUES 4,985,356 19,881,884 4,594,509 (390,847) (15,287,375) 23.11% EXPENSES: Personnel 1,321,617 5,825,065 1,268,085 53,532 4,556,980 21.77% Supplies 174,741 886,189 232,906 (58,165) 653,283 26.28% Contracted Services 677,786 3,828,553 751,968 (74,182) 3,076,585 19.64% Internal Services 754,480 2,920,385 730,096 24,384 2,190,289 25.00% TOTAL OPERATING EXPENSES 2,928,624 13,460,192 2,983,055 (54,431) 10,477,137 22.16% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND 2,056,732 6,421,692 1,611,454 (445,278) (4,810,238) 25.09% DEBT SERVICE: Principal - 1,292,050 - - 1,292,050 0.00% Interest - 100,075 - - 100,075 0.00% TOTAL DEBT SERVICE - 1,392,125 - - 1,392,125 0.00% CAPITAL OUTLAY 859,829 37,023,474 2,465,440 (1,605,611) 34,558,034 6.66% TRANSFERS IN - - - - - N/A TRANSFERS OUT - (13,300) (27) 27 (13,273) N/A NET TRANSFERS - (13,300) (27) (27) 13,273 N/A CHANGE IN FUND BALANCE 1,196,903 (32,007,207) (854,013) (2,050,916) 31,153,194 N/A BEGINNING FUND BALANCE, Jan 1 52,071,466 56,673,940 56,673,940 4,602,474 - 100.00% ENDING FUND BALANCE, Mar 31 53,268,369$ 24,666,733$ 55,819,927$ 2,551,558$ 31,153,194$ 226.30% Restricted for Debt Service 1,394,050 1,394,050 1,394,050 Operating Reserve 1,775,696 1,760,471 1,760,471 AVAILABLE FUND BALANCE 50,098,623$ 21,512,212$ 52,665,406$ WATER UTILITY VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 20 of 28 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. Interest and other misc. – See explanation on page 5. Capital Outlay – The decrease from prior year is primarily due to the work on Thunder Hills Interceptor Rehabilitation project, which incurred costs of $238K in Q1 2024. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 21,729$ 62,111$ 16,025$ (5,704)$ (46,086)$ 25.80% Charges for services 3,073,259 12,595,638 3,153,200 79,941 (9,442,438) 25.03% Interest and other misc 401,148 74,000 326,385 (74,763) 252,385 441.06% TOTAL REVENUES 3,496,136 12,731,749 3,495,610 (526) (9,236,139) 27.46% EXPENSES: Personnel 660,368 3,172,726 715,677 (55,309) 2,457,049 22.56% Supplies 18,941 75,141 23,074 (4,133) 52,067 30.71% Contracted Services 610,539 2,769,927 626,655 (16,116) 2,143,272 22.62% Internal Services 527,130 1,950,962 487,741 39,389 1,463,221 25.00% TOTAL OPERATING EXPENSES 1,816,978 7,968,756 1,853,147 (36,169) 6,115,609 23.26% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND 1,679,158 4,762,993 1,642,463 (36,695) (3,120,530) 34.48% DEBT SERVICE: Principal - 615,050 - - 615,050 0.00% Interest - 45,279 - - 45,279 0.00% TOTAL DEBT SERVICE - 660,329 - - 660,329 0.00% CAPITAL OUTLAY 543,160 19,183,931 424,790 118,370 18,759,141 2.21% TRANSFERS IN - - - - - N/A TRANSFERS OUT (1,147) (41,650) (27) (1,120) (41,623) N/A NET TRANSFERS (1,147) (41,650) (27) 1,120 41,623 N/A CHANGE IN FUND BALANCE 1,134,851 (15,122,917) 1,217,646 82,795 16,340,563 N/A BEGINNING FUND BALANCE, Jan 1 26,162,848 27,706,297 27,706,297 1,543,449 - 100.00% ENDING FUND BALANCE, Mar 31 27,297,699$ 12,583,380$ 28,923,943$ 1,626,244$ 16,340,563$ 229.86% Restricted for Debt Service 661,227 661,227 661,227 Operating Reserve 1,045,195 1,014,902 1,014,902 AVAILABLE FUND BALANCE 25,591,277$ 10,907,251$ 27,247,814$ WASTEWATER UTILITY VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 21 of 28 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 and Contracted Services – Increase from prior year is largely due the increase in King County fees which is passed through to wastewater customers. Fees from King County increased approximately 6% in 2025. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 5,170,772$ 22,791,462$ 5,612,585$ 441,813$ (17,178,877)$ 24.63% Interest and other misc 61,483 - 68,944 7,461 68,944 N/A TOTAL REVENUES 5,232,255 22,791,462 5,681,529 449,274 (17,109,933) 24.93% EXPENSES: Contracted Services 5,322,752 22,791,462 5,681,039 (358,287) 17,110,423 24.93% TOTAL OPERATING EXPENSES 5,322,752 22,791,462 5,681,039 (358,287) 17,110,423 24.93% CHANGE IN FUND BALANCE (90,497) - 490 90,987 490 N/A BEGINNING FUND BALANCE, Jan 1 6,589,443 7,647,812 7,647,812 1,058,369 - 100.00% ENDING FUND BALANCE, Mar 31 6,498,946$ 7,647,812$ 7,648,302$ 1,149,356$ 490$ 100.01% Operating Reserve 380,000 380,000 380,000 AVAILABLE FUND BALANCE 6,118,946$ 7,267,812$ 7,268,302$ KING COUNTY METRO VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 22 of 28 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. The primary driver of the increase over prior year is the Monroe Ave NE and N 2nd St Project with majority of project expenditures incurred in 2024 and reimbursements expected to be received in 2025 for those related costs. Charges for Services – The increase over prior year is due to rate increases of 3.5% in 2025, partially offset by lower than anticipated usage. Interest and other misc. – See explanation on page 5. Personnel – The increase from prior year is largely due the addition of two new positions effective in 2025. Capital Outlay – The decrease from prior year is due to the substantially completed project Monroe Ave Filtration Facility, which incurred $3.7M in Q1 2024. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 8,250$ 50,708$ 12,375$ 4,125$ (38,333)$ 24.40% Grants / intergovernmental 617,091 18,469,873 1,805,842 1,188,751 (16,664,031) 9.78% Charges for services 3,342,032 13,877,586 3,474,720 132,688 (10,402,866) 25.04% Interest and other misc 281,122 61,000 246,647 (34,475) 185,647 404.34% TOTAL REVENUES 4,248,495 32,459,167 5,539,584 1,291,089 (26,919,583) 17.07% EXPENSES: Personnel 946,296 4,797,498 1,080,534 (134,238) 3,716,964 22.52% Supplies 19,660 175,850 29,217 (9,557) 146,633 16.61% Contracted Services 350,253 4,380,205 415,599 (65,346) 3,964,606 9.49% Internal Services 761,149 3,254,398 813,600 (52,451) 2,440,798 25.00% TOTAL OPERATING EXPENSES 2,077,358 12,607,951 2,338,950 (261,592) 10,269,001 18.55% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND 2,171,137 19,851,216 3,200,634 1,029,497 (16,650,582) 16.12% DEBT SERVICE: Principal - 697,900 - - 697,900 0.00% Interest - 55,869 - - 55,869 0.00% TOTAL DEBT SERVICE - 753,769 - - 753,769 0.00% CAPITAL OUTLAY 4,058,825 26,989,536 1,470,349 2,588,476 25,519,187 5.45% Transfers Out 1,762 (41,650) (27) 1,789 (41,623) N/A NET TRANSFERS 1,762 (41,650) (27) (1,789) 41,623 N/A CHANGE IN FUND BALANCE (1,885,926) (7,933,739) 1,730,258 3,616,184 9,663,997 N/A BEGINNING FUND BALANCE, Jan 1 29,287,066 25,766,980 25,766,980 (3,520,086) - 100.00% ENDING FUND BALANCE, Mar 31 27,401,140$ 17,833,241$ 27,497,238$ 96,098$ 9,663,997$ 154.19% Restricted for Debt Service 754,868 754,868 754,868 Operating Reserve 1,330,313 1,312,012 1,312,012 AVAILABLE FUND BALANCE 25,315,959$ 15,766,361$ 25,430,358$ SURFACE WATER UTILITY VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 23 of 28 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. Detailed explanations will be provided for material annual budget differences at year-end. 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. Interest and other misc. – See explanation on page 5. Capital Outlay – Vehicles purchased from manufacturers or dealerships are paid upon receipt of the vehicle. The amount over prior year is due to the replacement of several Police vehicles ($350K) and machinery ($270K). These replacements were included in the replacement schedule of vehicles based on age, mileage and condition. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 13,003$ -$ 15,958$ 2,955$ 15,958$ N/A Interdepartmental services 1,633,296 6,598,956 1,700,571 67,275 (4,898,385) 25.77% Interest and other misc 170,877 12,000 179,813 8,936 167,813 1498.44% TOTAL REVENUES 1,817,176 6,610,956 1,896,342 79,166 (4,714,614) 28.68% EXPENSES: Personnel 297,838 1,283,255 308,685 (10,847) 974,570 24.05% Supplies 383,396 1,531,153 419,357 (35,961) 1,111,796 27.39% Contracted Services 131,267 133,166 74,473 56,794 58,693 55.92% Internal Services 33,817 152,034 38,008 (4,191) 114,026 25.00% TOTAL OPERATING EXPENSES 846,318 3,099,608 840,523 5,795 2,259,085 27.12% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND 970,858 3,511,348 1,055,819 84,961 (2,455,529) 30.07% TOTAL DEBT SERVICE - - - - - N/A CAPITAL OUTLAY 96,859 8,446,339 828,419 (731,560) 7,617,920 9.81% TRANSFERS IN - 552,000 - - (552,000) 0.00% NET TRANSFERS - 552,000 - - (552,000) 0.00% CHANGE IN FUND BALANCE 873,999 (4,382,991) 227,400 (646,599) 4,610,391 N/A BEGINNING FUND BALANCE, Jan 1 18,278,075 19,535,828 19,535,828 1,257,753 - 100.00% ENDING FUND BALANCE, Mar 31 19,152,074$ 15,152,837$ 19,763,228$ 611,154$ 4,610,391$ 130.43% Operating Reserves 12,995,059 15,152,837 15,152,837 AVAILABLE FUND BALANCE 6,157,015$ -$ 4,610,391$ EQUIPMENT RENTAL VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 24 of 28 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 an increase in the internal service fund rate model, primarily driven by the increased costs in supplemental insurance rate coverage. Interest and other misc. – See explanation on page 5. Personnel – The increase from prior year is due to an increase in workers’ compensation claims compared to prior years. Contracted Services – Insurance premiums are budgeted based on prior year activity and potential increases. The amount over prior year is primarily due to an increase in market prices for liability insurance premiums for 2025. This increase is consistent with industry trends. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 1,188,423$ 5,820,527$ 1,375,458$ 187,035$ (4,445,069)$ 23.63% Interest and other misc 274,376 200,000 249,839 (24,537) 49,839 124.92% TOTAL REVENUES 1,462,799 6,020,527 1,625,297 162,498 (4,395,230) 27.00% EXPENSES: Personnel 344,646 2,407,010 435,819 (91,173) 1,971,191 18.11% Supplies - 5,058 1,545 (1,545) 3,513 30.55% Contracted Services 1,047,989 4,290,119 1,263,441 (215,452) 3,026,678 29.45% TOTAL OPERATING EXPENSES 1,392,635 6,702,187 1,700,805 (308,170) 5,001,382 25.38% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 70,164 (681,660) (75,508) (145,672) 606,152 N/A Transfers In - 2,000,000 - - (2,000,000) 0.00% Transfers Out - (1,007,868) - - (1,007,868) N/A NET TRANSFERS - 992,132 - - (992,132) 0.00% CHANGE IN FUND BALANCE 70,164 310,472 (75,508) (145,672) (385,980) -24.32% BEGINNING FUND BALANCE, Jan 1 24,691,220 25,781,347 25,781,347 1,090,127 - 100.00% ENDING FUND BALANCE, Mar 31 24,761,384$ 26,091,819$ 25,705,839$ 944,455$ (385,980)$ 98.52% Operating Reserves 20,147,927 18,200,000 18,200,000 AVAILABLE FUND BALANCE 4,613,457$ 7,891,819$ 7,505,839$ INSURANCE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 25 of 28 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 due to an increase in the internal service fund rate model, largely due to cost-of-living adjustments. Contracted Services – The increase from prior year is due to inflationary increases for software service contracts and addition of new software. Capital Outlay –The prior year costs included $300K for the disaster recovery project, which is now complete. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 49,648$ -$ 64,084$ 14,436$ 64,084$ N/A Grants / intergovernmental - 30,000 - - (30,000) 0.00% Interdepartmental services 1,884,360 9,385,764 2,346,441 462,081 (7,039,323) 25.00% Interest and other misc 81,765 7,000 82,332 567 75,332 1176.17% TOTAL REVENUES 2,015,773 9,422,764 2,492,857 477,084 (6,929,907) 26.46% EXPENSES: Personnel 896,948 4,281,682 828,961 67,987 3,452,721 19.36% Supplies 135,247 1,585,085 222,767 (87,520) 1,362,318 14.05% Contracted Services 866,162 3,772,506 1,108,695 (242,533) 2,663,811 29.39% Internal Services 1,674 4,856 1,214 460 3,642 25.00% TOTAL OPERATING EXPENSES 1,900,031 9,644,129 2,161,637 (261,606) 7,482,492 22.41% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 115,742 (221,365) 331,220 215,478 552,585 N/A CAPITAL OUTLAY 422,268 4,540,128 97,839 324,429 4,442,289 2.15% TRANSFERS IN 1,147 650,968 80 (1,067) (650,888) 0.01% TRANSFERS OUT - (10,000) - - (10,000) N/A NET TRANSFERS 1,147 640,968 80 (1,067) (640,888) 0.01% CHANGE IN FUND BALANCE (305,379) (4,120,525) 233,461 538,840 4,353,986 N/A BEGINNING FUND BALANCE, Jan 1 9,416,600 9,632,207 9,632,207 215,607 - 100.00% ENDING FUND BALANCE, Mar 31 9,111,221$ 5,511,682$ 9,865,668$ 754,447$ 4,353,986$ 179.00% Operating Reserves 2,551,999 2,551,999 2,551,999 AVAILABLE FUND BALANCE 6,559,222$ 2,959,683$ 7,080,208$ INFORMATION TECHNOLOGY VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 26 of 28 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 and work orders. Interdepartmental services – The increase over prior year is due to overall expense increase, largely due to cost-of- living adjustments, which are subsequently reimbursed through interdepartmental revenues. Personnel – The amount under budget is largely due to unfilled new positions approved in the 2025-2026 biennium. Communications Fund 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. The communication services were approved in the 2025-26 Biennium Budget to be budgeted in the general fund. The fund will be closed in 2025. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 1,783,291$ 7,631,815$ 1,969,049$ 185,758$ (5,662,766)$ 25.80% Interest and other misc 6,790 5,000 14,925 8,135 9,925 298.50% TOTAL REVENUES 1,790,081 7,636,815 1,983,974 193,893 (5,652,841) 25.98% EXPENSES: Personnel 942,711 4,628,393 935,594 7,117 3,692,799 20.21% Supplies 153,945 446,056 129,320 24,625 316,736 28.99% Contracted Services 414,427 2,393,395 500,885 (86,458) 1,892,510 20.93% Internal Services 69,850 209,135 52,284 17,566 156,851 25.00% TOTAL OPERATING EXPENSES 1,580,933 7,676,979 1,618,083 (37,150) 6,058,896 21.08% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 209,148 (40,164) 365,891 156,743 406,055 N/A CAPITAL OUTLAY 1,065 - - 1,065 - N/A Transfers In - 60,000 - - (60,000) 0.00% Transfers Out - 78,300 - - 78,300 0.00% NET TRANSFERS - (18,300) - - 18,300 N/A CHANGE IN FUND BALANCE 208,083 (58,464) 365,891 157,808 424,355 N/A BEGINNING FUND BALANCE, Jan 1 1,046,533 1,962,169 1,962,169 915,636 - 100.00% ENDING FUND BALANCE, Mar 31 1,254,616$ 1,903,705$ 2,328,060$ 1,073,444$ 424,355$ 122.29% FACILITIES VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 27 of 28 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. Medical/Dental Claims – Medical and dental claims are based on staff utilizing city healthcare benefits and cost of medical claims. The claim costs can fluctuate from year to year. The budget and rate are set based on actuarial projections considering the city’s past claims average and the regional market average claims. The increase from prior year is due to increased medical costs and fewer vacancies across the city. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 415,942$ -$ -$ (415,942)$ -$ N/A Interest and other misc 5,191 - 1,943 (3,248) 1,943 N/A TOTAL REVENUES 421,133 - 1,943 (419,190) 1,943 N/A EXPENSES: Personnel 246,277 - - 246,277 - N/A Supplies 10,219 - - 10,219 - N/A Contracted Services 57,764 - - 57,764 - N/A Internal Services 1,203 - - 1,203 - N/A TOTAL OPERATING EXPENSES 315,463 - - 315,463 - N/A CHANGE IN FUND BALANCE 105,670 - 1,943 (103,727) 1,943 N/A BEGINNING FUND BALANCE, Jan 1 641,437 779,557 779,557 138,120 - 100.00% ENDING FUND BALANCE, Mar 31 747,107$ 779,557$ 781,500$ 34,393$ 1,943$ 100.25% COMMUNICATIONS VARIANCE FAVORABLE (UNFAVORABLE) 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Premiums 3,439,095$ 16,018,492$ 3,499,166$ 60,071$ (12,519,326)$ 21.84% Interest and other misc 315,974 520,000 238,489 (77,485) (281,511) 45.86% TOTAL REVENUES 3,755,069 16,538,492 3,737,655 (17,414) (12,800,837) 22.60% EXPENSES: Personnel 82,522 390,871 74,827 7,695 316,044 19.14% Medical/Dental Claims 2,803,293 15,903,575 3,496,266 (692,973) 12,407,309 21.98% Supplies 1,045 8,025 660 385 7,365 8.22% Contracted Services 150,081 622,510 119,435 30,646 503,075 19.19% Internal Services 28,515 124,379 31,095 (2,580) 93,284 25.00% TOTAL OPERATING EXPENSES 3,065,456 17,049,360 3,722,283 (656,827) 13,327,077 21.83% CHANGE IN FUND BALANCE 689,613 (510,868) 15,372 (674,241) 526,240 N/A BEGINNING FUND BALANCE, Jan 1 8,946,971 10,517,643 10,517,643 1,570,672 - 100.00% ENDING FUND BALANCE, Mar 31 9,636,584$ 10,006,775$ 10,533,015$ 896,431$ 526,240$ 105.26% Insurance Reserves 4,920,868 5,114,808 5,114,808 AVAILABLE FUND BALANCE 4,715,716$ 4,891,967$ 5,418,207$ HEALTH INSURANCE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 1st Quarter 2025 Page 28 of 28 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. Interest and other misc. – See explanation on page 5. 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 Kristin Trivelas ktrivelas@rentonwa.gov or Kari Roller kroller@rentonwa.gov. 2024 2025 2025 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental -$ 220,000$ -$ -$ (220,000)$ 0.00% Premiums 187,500 600,000 150,000 (37,500) (450,000) 25.00% Interest and other misc 262,570 100,000 230,965 (31,605) 130,965 230.97% TOTAL REVENUES 450,070 920,000 380,965 (69,105) (539,035) 41.41% EXPENSES: Personnel 26,280 116,193 23,445 2,835 92,748 20.18% Medical/Dental Claims 292,523 1,495,153 286,601 5,922 1,208,552 19.17% Contracted Services 14,336 74,876 20,028 (5,692) 54,848 26.75% TOTAL OPERATING EXPENSES 333,139 1,686,222 330,074 3,065 1,356,148 19.57% CHANGE IN FUND BALANCE 116,931 (766,222) 50,891 (66,040) 817,113 N/A BEGINNING FUND BALANCE, Jan 1 20,320,818 20,672,180 20,672,180 351,362 - 100.00% ENDING FUND BALANCE, Mar 31 20,437,749$ 19,905,958$ 20,723,071$ 285,322$ 817,113$ 104.10% Insurance Reserves 20,437,749 19,905,958 20,723,071 AVAILABLE FUND BALANCE -$ -$ -$ RETIREE HEALTHCARE VARIANCE FAVORABLE (UNFAVORABLE)