HomeMy WebLinkAboutMONTH 2025 01Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through January
31, 2025. 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 2025-2026 Adopted Budget.
General
REVENUES:
Taxes 7,917,954$
Licenses and permits 1,083,171
Grants / intergovernmental 581,967
Charges for services 424,226
Interdepartmental services 3,838
Fines and penalties 253,663
Miscellaneous 355,939
Investment Earnings 366,958
TOTAL REVENUES 10,987,716
EXPENDITURES:
Personnel 6,381,996
Supplies 67,010
Contracted Services 1,224,289
Internal Services 828
TOTAL EXPENDITURES 7,674,123
NET TRANSFERS -
CHANGE IN FUND BALANCE 3,313,593
BEGINNING FUND BALANCE, Jan 1 115,968,225
ENDING FUND BALANCE, Jan 31 119,281,818$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 11,500,000
AVAILABLE FUND BALANCE, Jan 31 105,281,818$
Monthly Financial Report January 2025
Monthly Financial Report City of Renton, Washington January 2025
Page 2 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.
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 2025-2026 Adopted Budget.
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 36,145$ -$ 348,235$ -$ -$ -$ -$ -$ -$
Licenses and permits - 10,576 - - - - - - -
Charges for services - - - - - 6,287 12,036 - -
Investment Earnings 3,530 1,085 44,328 805 2,090 - 274 2,297 389
TOTAL REVENUES 39,675 11,661 392,563 805 2,090 6,287 12,310 2,297 389
EXPENDITURES:
Personnel - - - - 1,613 - - - -
Supplies - - - - - - - 16,334 272
Contracted Services - - - - - 2,489 12,036 - 295
TOTAL EXPENDITURES - - - - 1,613 2,489 12,036 16,334 567
-
NET TRANSFERS - - - - - - - - -
CHANGE IN FUND BALANCE 39,675 11,661 392,563 805 477 3,798 274 (14,037) (178)
BEGINNING FUND BALANCE, Jan 1 1,184,978 372,210 15,430,640 292,923 722,962 2,490 2,368 790,432 132,667
ENDING FUND BALANCE, Jan 31 1,224,653$ 383,871$ 15,823,203$ 293,728$ 723,439$ 6,288$ 2,642$ 776,395$ 132,489$
General
Governmental
Misc Debt
REVENUES:
Investment Earnings 16,765$
TOTAL REVENUES 16,765
EXPENDITURES:
Principal -
Interest 13,846
TOTAL EXPENDITURES 13,846
NET TRANSFERS -
CHANGE IN FUND BALANCE 2,919
BEGINNING FUND BALANCE, Jan 1 5,812,247
ENDING FUND BALANCE, Jan 31 5,815,166$
Debt Service Reserve 2,711,725
AVAILABLE FUND BALANCE 3,103,441$
Monthly Financial Report City of Renton, Washington January 2025
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 -$ -$ 177,700$ 177,700$ -$ 343,198$ -$
Charges for services 39,317 152,474 - - - - -
Contributions - - - - - 411,500 -
Investment Earnings 1,083 10,234 14,146 6,778 82,479 50,851 11,348
TOTAL REVENUES 40,400 162,708 191,846 184,478 82,479 805,549 11,348
EXPENDITURES:
Personnel - - - - - 5,392 -
Capital Outlay - - - - 67,070 58,927 (3,145)
TOTAL EXPENDITURES - - - - 67,070 64,319 (3,145)
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 40,400 162,708 191,846 184,478 15,409 741,230 14,493
BEGINNING FUND BALANCE, Jan 1 359,744 3,613,322 5,060,894 2,312,665 28,180,516 14,132,445 3,937,547
ENDING FUND BALANCE, Jan 31 400,144$ 3,776,030$ 5,252,740$ 2,497,143$ 28,195,925$ 14,873,675$ 3,952,040$
Monthly Financial Report City of Renton, Washington January 2025
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 2025-2026 Adopted
Budget.
Airport
Solid Waste
Utility Golf Course Water Utility
Wastewater
Utility Metro
Surface Water
Utility
REVENUES:
Licenses and permits -$ -$ -$ -$ 6,375$ -$ 5,250$
Charges for services 702,512 - 84,864 1,457,801 1,136,468 1,967,793 1,294,692
Rents, leases, and misc fees - - 14,051 10,952 - - -
Interest and other misc 41,410 13,839 8,686 167,284 83,552 21,969 85,181
TOTAL REVENUES 743,922 13,839 107,601 1,636,037 1,226,395 1,989,762 1,385,123
EXPENSES:
Personnel 117,900 56,924 145,973 423,914 247,857 - 366,057
Supplies 1,923 4,521 13,424 37,821 13,543 - 5,946
Contracted Services 22,353 512,426 12,930 168,177 201,254 1,893,680 105,432
Internal Services - - - 2,774 - - -
TOTAL OPERATING EXPENSES 142,176 573,871 172,327 632,686 462,654 1,893,680 477,435
AMOUNT AVAILABLE FOR DEBT 601,746 (560,032) (64,726) 1,003,351 763,741 96,082 907,688
DEBT SERVICE:
Principal - - 3,769 - - - -
Interest - - 83 - - - -
TOTAL DEBT SERVICE - - 3,852 - - - -
CAPITAL OUTLAY - - 22,171 147,889 20,829 - 51,512
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 601,746 (560,032) (90,749) 855,462 742,912 96,082 856,176
BEGINNING FUND BALANCE, Jan 1 13,353,300 3,972,833 2,611,727 56,673,939 27,706,296 7,647,812 25,766,981
ENDING FUND BALANCE, Jan 31 13,955,046$ 3,412,801$ 2,520,978$ 57,529,401$ 28,449,208$ 7,743,894$ 26,623,157$
Restricted for Debt Service - - - 1,394,051 661,227 - 754,868
Operating Reserve 282,824 400,000 1,022,854 1,572,079 923,334 380,000 1,198,768
AVAILABLE FUND BALANCE 13,672,222$ 3,012,801$ 1,498,124$ 54,563,271$ 26,864,647$ 7,363,894$ 24,669,521$
Monthly Financial Report City of Renton, Washington January 2025
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 -$ -$ 19,289$ -$ -$ -$ -$
Charges for services:
Equipment rental m&o 19,048 - - - - - -
Interest and other misc 56,732 74,668 28,921 6,380 2,284 30,565 59,818
Internal service fund misc:
Worker's comp/unemployment - 164,096 - - - - -
Benefit premiums - - - - - 1,183,413 -
Other misc 251 - - - - - -
Insurance recoveries 100 18,269 - - - - -
TOTAL REVENUES 76,131 257,033 48,210 6,380 2,284 1,213,978 59,818
EXPENSES:
Personnel 104,264 193,318 282,467 317,949 97,379 1,251,394 91,693
Supplies 108,624 980 19,369 29,993 - 330 -
Contracted Services 24,731 1,149,284 416,284 58,982 12,350 65,381 6,851
TOTAL OPERATING EXPENSES 237,619 1,343,582 718,120 406,924 109,729 1,317,105 98,544
AMOUNT AVAILABLE FOR DEBT
SERVICE, CAPITAL, AND (161,488) (1,086,549) (669,910) (400,544) (107,445) (103,127) (38,726)
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 2,181 - 12,339 - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE (163,669) (1,086,549) (682,249) (400,544) (107,445) (103,127) (38,726)
BEGINNING FUND BALANCE, Jan 1 19,535,828 25,781,347 9,632,207 1,962,169 779,557 10,517,642 20,672,179
ENDING FUND BALANCE, Jan 31 19,372,159$ 24,694,798$ 8,949,958$ 1,561,625$ 672,112$ 10,414,515$ 20,633,453$
Insurance Reserves - 18,200,000 - - - 5,114,808 20,633,453
Opearting Reserves 13,757,620 - 4,277,957 - - - -
AVAILABLE FUND BALANCE 5,614,539$ 6,494,798$ 4,672,001$ 1,561,625$ 672,112$ 5,299,707$ -$
Monthly Financial Report City of Renton, Washington January 2025
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:
Investment Earnings 26,783$ -$
Collected for Others - 1,012,681
TOTAL REVENUES 26,783 1,012,681
EXPENDITURES:
Distributions to Others 24,455 152,199
TOTAL EXPENDITURES 24,455 152,199
NET TRANSFERS - -
CHANGE IN FUND BALANCE 2,328 860,482
BEGINNING FUND BALANCE, Jan 1 9,636,751 -
ENDING FUND BALANCE, Jan 31 9,639,079$ 860,482$
Monthly Financial Report City of Renton, Washington January 2025
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 January 31, 2025
Funds
Balance
01/01/2025
Budgeted
Revenue
Revenue
01/31/25
Total Funds
Available
Budgeted
Expenditure
Expenditure
01/31/25
Ending
Balance
GENERAL FUND 115,968,225 139,820,953 10,987,716 126,955,941 152,437,997 7,674,123 119,281,818
SPECIAL REVENUE FUNDS: 18,931,670 5,245,000 468,077 19,399,747 5,701,431 33,039 19,366,708
110 Hotel Motel 1,184,978 355,000 39,675 1,224,653 644,939 - 1,224,653
127 Cable Communication 372,210 60,000 11,661 383,871 97,674 - 383,871
130 Housing and Supportive Services 15,430,640 4,030,000 392,563 15,823,203 3,195,719 - 15,823,203
135 Springbrook Wetlands Bank 722,962 - 2,090 725,052 40,000 1,613 723,439
140 Police Seizure 790,432 - 2,297 792,729 790,432 16,334 776,395
141 Police CSAM Seizure 132,667 - 389 133,056 132,667 567 132,489
150 Affordable Housing Development 292,923 - 805 293,728 - - 293,728
31X School District Impact Mitigation 2,368 600,000 12,310 14,678 600,000 12,036 2,642
304 Fire Mitigation 2,490 200,000 6,287 8,777 200,000 2,489 6,288
DEBT SERVICE FUND 5,812,247 2,923,225 16,765 5,829,012 2,952,717 13,846 5,815,166
CAPITAL PROJECT FUNDS (CIP): 57,597,133 54,723,512 1,478,808 59,075,941 83,180,789 128,244 58,947,697
303 Community Services Mitigation 359,744 100,000 40,400 400,144 105,000 - 400,144
305 Transportation Mitigation 3,613,322 1,000,000 162,708 3,776,030 250,000 - 3,776,030
308 REET1 5,060,894 2,520,000 191,846 5,252,740 4,560,000 - 5,252,740
309 REET2 2,312,665 2,520,000 184,478 2,497,143 2,799,625 - 2,497,143
316 Municipal Facilities CIP 28,180,516 15,706,530 82,479 28,262,995 33,950,744 67,070 28,195,925
317 Transportation CIP 14,132,445 32,876,982 805,549 14,937,994 41,515,420 64,319 14,873,675
346 New Family First Center Dvlpmnt 3,937,547 - 11,348 3,948,895 - (3,145) 3,952,040
ENTERPRISE FUNDS: 137,732,888 124,698,878 7,102,679 144,835,567 187,567,587 4,601,082 140,234,485
4X2 Airport Operating & CIP 13,353,300 5,147,351 743,922 14,097,223 11,779,241 142,176 13,955,046
403 Solid Waste Utility 3,972,833 27,139,665 13,839 3,986,672 27,598,948 573,871 3,412,801
4X4 Golf Operating & CIP 2,611,727 4,547,600 107,601 2,719,328 5,261,273 198,350 2,520,978
4X5 Water Operating & CIP 56,673,939 19,881,884 1,636,037 58,309,976 51,889,091 780,575 57,529,401
4X6 Waste Water Operating & CIP 27,706,296 12,731,749 1,226,395 28,932,691 27,854,666 483,483 28,449,208
416 King County Metro 7,647,812 22,791,462 1,989,762 9,637,574 22,791,462 1,893,680 7,743,894
4X7 Surface Water Operating & CIP 25,766,981 32,459,167 1,385,123 27,152,103 40,392,906 528,947 26,623,157
INTERNAL SERVICE FUNDS: 88,880,929 50,412,522 1,663,834 90,544,763 59,941,120 4,246,143 86,298,620
501 Equipment Repair/Replacement 19,535,828 7,162,956 76,131 19,611,959 11,545,947 239,800 19,372,159
502 Insurance 25,781,347 8,020,527 257,033 26,038,380 7,710,055 1,343,582 24,694,798
503 Information Services 9,632,207 10,073,732 48,210 9,680,417 14,194,257 730,459 8,949,958
504 Facilities 1,962,169 7,696,815 6,380 1,968,549 7,755,279 406,924 1,561,625
505 Communications 779,557 - 2,284 781,841 - 109,729 672,112
512 Insurance, Healthcare 10,517,642 16,538,492 1,213,978 11,731,620 17,049,360 1,317,105 10,414,515
522 Insurance, Leoff1 Retirees HC 20,672,179 920,000 59,818 20,731,997 1,686,222 98,544 20,633,453
FIDUCIARY FUNDS: 9,636,752 1,500,000 1,039,464 10,676,216 275,475 176,654 10,499,561
611 Firemens' Pension 9,636,752 1,500,000 26,783 9,663,535 275,475 24,455 9,639,079
630 Custodial Fund - - 1,012,681 1,012,681 - 152,199 860,482
TOTAL FUNDS 434,559,844 379,324,090 22,757,343 457,317,187 492,057,116 16,873,133 440,444,055