The URL can be used to link to this page

Home My WebLink AboutMONTH 2025 02Page 1 of 7 OVERVIEW This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through February 28, 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 15,913,598$ Licenses and permits 1,827,411 Grants / intergovernmental 736,654 Charges for services 1,009,036 Interdepartmental services 7,642 Fines and penalties 483,917 Miscellaneous 513,784 Investment Earnings 789,838 TOTAL REVENUES 21,281,880 EXPENDITURES: Personnel 13,142,113 Supplies 197,638 Contracted Services 3,507,646 Capital Outlay 11,355 Internal Services 828 TOTAL EXPENDITURES 16,859,580 NET TRANSFERS - CHANGE IN FUND BALANCE 4,422,300 BEGINNING FUND BALANCE, Jan 1 115,968,225 ENDING FUND BALANCE, Feb 28 120,390,525$ ECONOMIC DEVELOPMENT RESERVE 2,500,000 OPERATING RESERVES 11,500,000 AVAILABLE FUND BALANCE, Feb 28 106,390,525$ Monthly Financial Report February 2025 Monthly Financial Report City of Renton, Washington February 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 53,445$ -$ 750,474$ -$ -$ -$ -$ -$ -$ Licenses and permits - 10,576 - - - - - - - Grants / intergovernmental - - - - 4,256 - - - - Charges for services - - - - - 9,663 20,060 - - Investment Earnings 7,505 2,326 95,553 1,760 4,435 - 351 4,822 820 TOTAL REVENUES 60,950 12,902 846,027 1,760 8,691 9,663 20,411 4,822 820 EXPENDITURES: Personnel - - - - 1,820 - - - - Supplies - - - - - - - 29,175 272 Contracted Services 11,250 5,750 66,500 - - 2,489 12,036 - 344 TOTAL EXPENDITURES 11,250 5,750 66,500 - 1,820 2,489 12,036 29,175 616 - NET TRANSFERS - - - - - - - - - CHANGE IN FUND BALANCE 49,700 7,152 779,527 1,760 6,871 7,174 8,375 (24,353) 204 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, Feb 28 1,234,678$ 379,362$ 16,210,167$ 294,683$ 729,833$ 9,664$ 10,743$ 766,079$ 132,871$ General Governmental Misc Debt REVENUES: Investment Earnings 35,621$ TOTAL REVENUES 35,621 EXPENDITURES: Principal - Interest 13,846 TOTAL EXPENDITURES 13,846 NET TRANSFERS - CHANGE IN FUND BALANCE 21,775 BEGINNING FUND BALANCE, Jan 1 5,812,247 ENDING FUND BALANCE, Feb 28 5,834,022$ Debt Service Reserve 2,711,725 AVAILABLE FUND BALANCE 3,122,297$ Monthly Financial Report City of Renton, Washington February 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 -$ -$ 282,335$ 282,335$ -$ 740,610$ -$ Grants / intergovernmental - - - - - 1,026,003 - Charges for services 65,529 646,782 - - - - - Contributions - - - - - 950,591 - Investment Earnings 2,357 22,412 31,116 14,769 174,346 100,189 24,153 TOTAL REVENUES 67,886 669,194 313,451 297,104 174,346 2,817,393 24,153 EXPENDITURES: Personnel - - - - - 30,165 - Supplies - - - - - 6,965 - Contracted Services - - - - 120,084 3,492 - Capital Outlay - - - - 332,164 1,184,795 (3,145) TOTAL EXPENDITURES - - - - 452,248 1,225,417 (3,145) NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 67,886 669,194 313,451 297,104 (277,902) 1,591,976 27,298 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, Feb 28 427,630$ 4,282,516$ 5,374,345$ 2,609,769$ 27,902,614$ 15,724,421$ 3,964,845$ Monthly Financial Report City of Renton, Washington February 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 -$ -$ -$ -$ 10,500$ -$ 9,750$ Grants / intergovernmental - - - - - - 1,207,643 Charges for services 1,070,333 5,428,624 123,322 2,713,064 2,095,228 3,694,033 2,342,817 Rents, leases, and misc fees - - 23,676 22,256 - - - Interest and other misc 89,247 41,102 18,368 360,971 233,389 47,041 247,973 TOTAL REVENUES 1,159,580 5,469,726 165,366 3,096,291 2,339,117 3,741,074 3,808,183 EXPENSES: Personnel 236,935 107,757 284,417 837,578 480,186 - 727,194 Supplies 4,168 12,363 51,924 974,401 17,444 - 13,931 Contracted Services 45,547 4,272,245 31,769 417,500 411,790 3,787,360 209,376 Internal Services - - - 2,774 - - - TOTAL OPERATING EXPENSES 286,650 4,392,365 368,110 2,232,253 909,420 3,787,360 950,501 AMOUNT AVAILABLE FOR DEBT 872,930 1,077,361 (202,744) 864,038 1,429,697 (46,286) 2,857,682 DEBT SERVICE: Principal - - 7,541 - - - - Interest - - 162 - - - - TOTAL DEBT SERVICE - - 7,703 - - - - CAPITAL OUTLAY 35,526 - 79,532 793,842 95,833 - 371,678 NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 837,404 1,077,361 (289,979) 70,196 1,333,864 (46,286) 2,486,004 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, Feb 28 14,190,704$ 5,050,194$ 2,321,748$ 56,744,135$ 29,040,160$ 7,601,526$ 28,252,985$ 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 13,907,880$ 4,650,194$ 1,298,894$ 53,778,005$ 27,455,599$ 7,221,526$ 26,299,349$ Monthly Financial Report City of Renton, Washington February 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 -$ -$ 40,776$ -$ -$ -$ -$ Charges for services: Equipment rental m&o 22,175 - - - - - - Interest and other misc 119,833 155,157 58,391 11,769 4,507 65,274 126,772 Internal service fund misc: Worker's comp/unemployment - 334,714 - - - - - Benefit premiums - - - - - 2,329,351 - Other misc 251 - - - - 137,623 44,607 Insurance recoveries 1,444 20,932 - - - 3,348 - TOTAL REVENUES 143,703 510,803 99,167 11,769 4,507 2,535,596 171,379 EXPENSES: Personnel 211,190 318,246 551,822 620,430 97,379 2,109,148 167,226 Supplies 270,802 1,545 75,848 88,121 - 385 - Contracted Services 42,806 1,244,948 771,986 192,138 12,350 79,534 10,545 TOTAL OPERATING EXPENSES 524,798 1,564,739 1,399,656 900,689 109,729 2,189,067 177,771 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS (381,095) (1,053,936) (1,300,489) (888,920) (105,222) 346,529 (6,392) TOTAL DEBT SERVICE - - - - - - - CAPITAL OUTLAY 197,853 - 49,997 - - - - NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE (578,948) (1,053,936) (1,350,486) (888,920) (105,222) 346,529 (6,392) 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, Feb 28 18,956,880$ 24,727,411$ 8,281,721$ 1,073,249$ 674,335$ 10,864,171$ 20,665,787$ Insurance Reserves - 18,200,000 - - - 5,114,808 20,665,787 Opearting Reserves 13,757,620 - 4,277,957 - - - - AVAILABLE FUND BALANCE 5,199,260$ 6,527,411$ 4,003,764$ 1,073,249$ 674,335$ 5,749,363$ -$ Monthly Financial Report City of Renton, Washington February 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 56,872$ -$ Collected for Others - 1,123,774 TOTAL REVENUES 56,872 1,123,774 EXPENDITURES: Distributions to Others 48,910 167,214 TOTAL EXPENDITURES 48,910 167,214 NET TRANSFERS - - CHANGE IN FUND BALANCE 7,962 956,560 BEGINNING FUND BALANCE, Jan 1 9,636,751 - ENDING FUND BALANCE, Feb 28 9,644,713$ 956,560$ Monthly Financial Report City of Renton, Washington February 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 February 28, 2025 Funds Balance 01/01/2025 Budgeted Revenue Revenue 02/28/25 Total Funds Available Budgeted Expenditure Expenditure 02/28/25 Ending Balance GENERAL FUND 115,968,225 139,820,953 21,281,880 137,250,105 152,437,997 16,859,580 120,390,525 SPECIAL REVENUE FUNDS: 18,931,670 5,245,000 966,046 19,897,716 5,701,431 129,636 19,768,080 110 Hotel Motel 1,184,978 355,000 60,950 1,245,928 644,939 11,250 1,234,678 127 Cable Communication 372,210 60,000 12,902 385,112 97,674 5,750 379,362 130 Housing and Supportive Services 15,430,640 4,030,000 846,027 16,276,667 3,195,719 66,500 16,210,167 135 Springbrook Wetlands Bank 722,962 - 8,691 731,653 40,000 1,820 729,833 140 Police Seizure 790,432 - 4,822 795,254 790,432 29,175 766,079 141 Police CSAM Seizure 132,667 - 820 133,487 132,667 616 132,871 150 Affordable Housing Development 292,923 - 1,760 294,683 - - 294,683 31X School District Impact Mitigation 2,368 600,000 20,411 22,779 600,000 12,036 10,743 304 Fire Mitigation 2,490 200,000 9,663 12,153 200,000 2,489 9,664 DEBT SERVICE FUND 5,812,247 2,923,225 35,621 5,847,868 2,952,717 13,846 5,834,022 CAPITAL PROJECT FUNDS (CIP): 57,597,133 54,723,512 4,363,527 61,960,660 83,180,789 1,674,520 60,286,140 303 Community Services Mitigation 359,744 100,000 67,886 427,630 105,000 - 427,630 305 Transportation Mitigation 3,613,322 1,000,000 669,194 4,282,516 250,000 - 4,282,516 308 REET1 5,060,894 2,520,000 313,451 5,374,345 4,560,000 - 5,374,345 309 REET2 2,312,665 2,520,000 297,104 2,609,769 2,799,625 - 2,609,769 316 Municipal Facilities CIP 28,180,516 15,706,530 174,346 28,354,862 33,950,744 452,248 27,902,614 317 Transportation CIP 14,132,445 32,876,982 2,817,393 16,949,838 41,515,420 1,225,417 15,724,421 346 New Family First Center Dvlpmnt 3,937,547 - 24,153 3,961,700 - (3,145) 3,964,845 ENTERPRISE FUNDS: 137,732,888 124,698,878 19,779,337 157,512,225 187,567,587 14,310,773 143,201,452 4X2 Airport Operating & CIP 13,353,300 5,147,351 1,159,580 14,512,881 11,779,241 322,176 14,190,704 403 Solid Waste Utility 3,972,833 27,139,665 5,469,726 9,442,559 27,598,948 4,392,365 5,050,194 4X4 Golf Operating & CIP 2,611,727 4,547,600 165,366 2,777,093 5,261,273 455,345 2,321,748 4X5 Water Operating & CIP 56,673,939 19,881,884 3,096,291 59,770,230 51,889,091 3,026,095 56,744,135 4X6 Waste Water Operating & CIP 27,706,296 12,731,749 2,339,117 30,045,413 27,854,666 1,005,253 29,040,160 416 King County Metro 7,647,812 22,791,462 3,741,074 11,388,886 22,791,462 3,787,360 7,601,526 4X7 Surface Water Operating & CIP 25,766,981 32,459,167 3,808,183 29,575,163 40,392,906 1,322,179 28,252,985 INTERNAL SERVICE FUNDS: 88,880,929 50,412,522 3,476,924 92,357,853 59,941,120 7,114,299 85,243,554 501 Equipment Repair/Replacement 19,535,828 7,162,956 143,703 19,679,531 11,545,947 722,651 18,956,880 502 Insurance 25,781,347 8,020,527 510,803 26,292,150 7,710,055 1,564,739 24,727,411 503 Information Services 9,632,207 10,073,732 99,167 9,731,374 14,194,257 1,449,653 8,281,721 504 Facilities 1,962,169 7,696,815 11,769 1,973,938 7,755,279 900,689 1,073,249 505 Communications 779,557 - 4,507 784,064 - 109,729 674,335 512 Insurance, Healthcare 10,517,642 16,538,492 2,535,596 13,053,238 17,049,360 2,189,067 10,864,171 522 Insurance, Leoff1 Retirees HC 20,672,179 920,000 171,379 20,843,558 1,686,222 177,771 20,665,787 FIDUCIARY FUNDS: 9,636,752 1,500,000 1,180,646 10,817,398 275,475 216,124 10,601,273 611 Firemens' Pension 9,636,752 1,500,000 56,872 9,693,624 275,475 48,910 9,644,713 630 Custodial Fund - - 1,123,774 1,123,774 - 167,214 956,560 TOTAL FUNDS 434,559,844 379,324,090 51,083,981 485,643,825 492,057,116 40,318,780 445,325,046