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Home My WebLink AboutMONTH 2025 03Page 1 of 7 OVERVIEW This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through March 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 22,293,754$ Licenses and permits 2,445,686 Grants / intergovernmental 1,218,038 Charges for services 3,234,075 Interdepartmental services 11,316 Fines and penalties 757,831 Miscellaneous 639,738 Investment Earnings 1,175,047 TOTAL REVENUES 31,775,485 EXPENDITURES: Personnel 19,963,728 Supplies 448,185 Contracted Services 5,399,819 Capital Outlay 17,355 Internal Services 5,665,959 TOTAL EXPENDITURES 31,495,046 NET TRANSFERS - CHANGE IN FUND BALANCE 280,439 BEGINNING FUND BALANCE, Jan 1 115,968,225 ENDING FUND BALANCE, Mar 31 116,248,664$ ECONOMIC DEVELOPMENT RESERVE 2,500,000 OPERATING RESERVES 18,397,399 AVAILABLE FUND BALANCE, Mar 31 95,351,265$ Monthly Financial Report March 2025 Monthly Financial Report City of Renton, Washington March 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 74,971$ -$ 1,088,697$ -$ -$ -$ -$ -$ -$ Licenses and permits - 10,576 - - - - - - - Grants / intergovernmental - - - - 4,256 - - - - Charges for services - - - - - 11,351 36,250 - - Contributions - - - - - - - 39,868 - Investment Earnings 11,063 3,418 142,287 2,611 6,538 - 382 7,029 1,203 TOTAL REVENUES 86,034 13,994 1,230,984 2,611 10,794 11,351 36,632 46,897 1,203 EXPENDITURES: Personnel - - - - 1,894 - - - - Supplies - - - - - - - 29,175 272 Contracted Services 22,500 7,500 180,365 - 902 12,152 30,672 2,311 390 Capital Outlay - - - - - - - 10,672 - TOTAL EXPENDITURES 22,500 7,500 180,365 - 2,796 12,152 30,672 42,158 662 - NET TRANSFERS - - - - - - - - - CHANGE IN FUND BALANCE 63,534 6,494 1,050,619 2,611 7,998 (801) 5,960 4,739 541 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, Mar 31 1,248,512$ 378,704$ 16,481,259$ 295,534$ 730,960$ 1,689$ 8,328$ 795,171$ 133,208$ General Governmental Misc Debt REVENUES: Investment Earnings 52,436$ TOTAL REVENUES 52,436 EXPENDITURES: Principal - Interest 13,846 TOTAL EXPENDITURES 13,846 NET TRANSFERS - CHANGE IN FUND BALANCE 38,590 BEGINNING FUND BALANCE, Jan 1 5,812,247 ENDING FUND BALANCE, Mar 31 5,850,837$ Debt Service Reserve 2,717,575 AVAILABLE FUND BALANCE 3,133,262$ Monthly Financial Report City of Renton, Washington March 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 -$ -$ 489,521$ 489,521$ -$ 1,075,680$ -$ Grants / intergovernmental - - - - - 4,554,672 - Charges for services 81,911 711,198 - - 5,500 - - Contributions - - - - - 1,156,257 - Investment Earnings 3,584 34,754 46,612 22,259 254,953 148,208 35,577 TOTAL REVENUES 85,495 745,952 536,133 511,780 260,453 6,934,817 35,577 EXPENDITURES: Personnel - - - - 31,686 61,343 - Supplies - - - - - 6,965 - Contracted Services - - - - 191,676 48,682 - Capital Outlay - - - - 338,486 2,507,599 - TOTAL EXPENDITURES - - - - 561,848 2,624,589 - NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 85,495 745,952 536,133 511,780 (301,395) 4,310,228 35,577 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, Mar 31 445,239$ 4,359,274$ 5,597,027$ 2,824,445$ 27,879,121$ 18,442,673$ 3,973,124$ Monthly Financial Report City of Renton, Washington March 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 -$ -$ -$ -$ 16,025$ -$ 12,375$ Grants / intergovernmental - 54,155 - - - - 1,637,072 - - - - - - - Charges for services 1,431,906 7,085,448 256,713 4,026,335 3,153,200 5,612,585 3,474,720 Interdepartmental services - - - - - - - Fines and penalties - - - - - - - Rents, leases, and misc fees - - 43,377 40,411 - - - Interest and other misc 132,971 55,666 26,158 527,763 326,385 68,944 415,417 TOTAL REVENUES 1,564,877 7,195,269 326,248 4,594,509 3,495,610 5,681,529 5,539,584 EXPENSES: Personnel 353,157 159,568 425,572 1,268,085 715,679 - 1,080,534 Supplies 10,271 15,000 83,598 232,906 23,074 - 29,217 Contracted Services 121,032 5,718,335 55,309 751,968 626,653 5,681,039 415,599 Internal Services 138,824 158,036 158,671 730,096 487,741 - 813,600 TOTAL OPERATING EXPENSES 623,284 6,050,939 723,150 2,983,055 1,853,147 5,681,039 2,338,950 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 941,593 1,144,330 (396,902) 1,611,454 1,642,463 490 3,200,634 DEBT SERVICE: Principal - - 11,316 - - - - Interest - - 238 - - - - TOTAL DEBT SERVICE - - 11,554 - - - - CAPITAL OUTLAY 94,707 - 173,287 2,465,440 424,790 - 1,470,349 Transfers In - - 163,275 - - - - Transfers Out - - (163,275) (27) (27) - (27) NET TRANSFERS - - - (27) (27) - (27) CHANGE IN FUND BALANCE 846,886 1,144,330 (581,743) (854,013) 1,217,646 490 1,730,258 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, Mar 31 14,200,186$ 5,117,163$ 2,029,984$ 55,819,926$ 28,923,942$ 7,648,302$ 27,497,239$ Restricted for Debt Service - - - 1,394,050 661,227 - 754,868 Operating Reserve 285,902 400,000 997,854 1,760,471 1,014,902 380,000 1,312,012 AVAILABLE FUND BALANCE 13,914,284$ 4,717,163$ 1,032,130$ 52,665,405$ 27,247,813$ 7,268,302$ 25,430,359$ Monthly Financial Report City of Renton, Washington March 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 -$ -$ 64,084$ -$ -$ -$ -$ Charges for services: Equipment rental m&o 871,893 - 2,346,441 - - - - Facilities - - - 1,912,618 - - - Interest and other misc 174,619 226,394 82,332 14,925 1,943 97,518 186,358 Internal service fund misc: Vehicle/equipment capital recovery 844,635 - - - - - - Insurance premiums - 869,720 - - - - - Worker's comp/unemployment - 505,738 - - - - - Benefit premiums - - - - - 3,499,166 150,000 Other misc 327 - - 56,431 - 137,623 44,607 Insurance recoveries 4,868 23,445 - - - 3,348 - TOTAL REVENUES 1,896,342 1,625,297 2,492,857 1,983,974 1,943 3,737,655 380,965 EXPENSES: Personnel 308,685 435,819 828,962 935,595 - 3,571,093 310,045 Supplies 419,357 1,545 222,766 129,320 - 660 - Contracted Services 74,473 1,263,441 1,108,695 500,884 - 119,435 20,029 Internal Services 38,008 - 1,214 52,284 - 31,095 - TOTAL OPERATING EXPENSES 840,523 1,700,805 2,161,637 1,618,083 - 3,722,283 330,074 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,055,819 (75,508) 331,220 365,891 1,943 15,372 50,891 TOTAL DEBT SERVICE - - - - - - - CAPITAL OUTLAY 828,419 - 97,839 - - - - Transfers In - - 80 - - - - NET TRANSFERS - - 80 - - - - CHANGE IN FUND BALANCE 227,400 (75,508) 233,461 365,891 1,943 15,372 50,891 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, Mar 31 19,763,228$ 25,705,839$ 9,865,668$ 2,328,060$ 781,500$ 10,533,014$ 20,723,070$ Insurance Reserves - 20,253,866 - - - 5,114,808 20,723,070 Opearting Reserves 19,763,228 - 2,785,647 965,537 - - - AVAILABLE FUND BALANCE -$ 5,451,973$ 7,080,021$ 1,362,523$ 781,500$ 5,418,206$ -$ Monthly Financial Report City of Renton, Washington March 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 83,633$ -$ Collected for Others - 1,239,975 TOTAL REVENUES 83,633 1,239,975 EXPENDITURES: Distributions to Others 73,365 285,199 TOTAL EXPENDITURES 73,365 285,199 NET TRANSFERS - - CHANGE IN FUND BALANCE 10,268 954,776 BEGINNING FUND BALANCE, Jan 1 9,636,751 - ENDING FUND BALANCE, Mar 31 9,647,019$ 954,776$ Monthly Financial Report City of Renton, Washington March 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 March 31, 2025 Funds Balance 01/01/2025 Budgeted Revenue Revenue 03/31/25 Total Funds Available Budgeted Expenditure Expenditure 03/31/25 Ending Balance GENERAL FUND 115,968,225 139,820,953 31,775,485 147,743,710 152,437,997 31,495,046 116,248,664 SPECIAL REVENUE FUNDS: 18,931,670 5,245,000 1,440,500 20,372,170 5,701,431 298,805 20,073,365 110 Hotel Motel 1,184,978 355,000 86,034 1,271,012 644,939 22,500 1,248,512 127 Cable Communication 372,210 60,000 13,994 386,204 97,674 7,500 378,704 130 Housing and Supportive Services 15,430,640 4,030,000 1,230,984 16,661,624 3,195,719 180,365 16,481,259 135 Springbrook Wetlands Bank 722,962 - 10,794 733,756 40,000 2,796 730,960 140 Police Seizure 790,432 - 46,897 837,329 790,432 42,158 795,171 141 Police CSAM Seizure 132,667 - 1,203 133,870 132,667 662 133,208 150 Affordable Housing Development 292,923 - 2,611 295,534 - - 295,534 31X School District Impact Mitigation 2,368 600,000 36,632 39,000 600,000 30,672 8,328 304 Fire Mitigation 2,490 200,000 11,351 13,841 200,000 12,152 1,689 DEBT SERVICE FUND 5,812,247 2,923,225 52,436 5,864,683 2,952,717 13,846 5,850,837 CAPITAL PROJECT FUNDS (CIP): 57,597,133 54,723,512 9,110,207 66,707,340 83,180,789 3,186,437 63,520,903 303 Community Services Mitigation 359,744 100,000 85,495 445,239 105,000 - 445,239 305 Transportation Mitigation 3,613,322 1,000,000 745,952 4,359,274 250,000 - 4,359,274 308 REET1 5,060,894 2,520,000 536,133 5,597,027 4,560,000 - 5,597,027 309 REET2 2,312,665 2,520,000 511,780 2,824,445 2,799,625 - 2,824,445 316 Municipal Facilities CIP 28,180,516 15,706,530 260,453 28,440,969 33,950,744 561,848 27,879,121 317 Transportation CIP 14,132,445 32,876,982 6,934,817 21,067,262 41,515,420 2,624,589 18,442,673 346 New Family First Center Dvlpmnt 3,937,547 - 35,577 3,973,124 - - 3,973,124 ENTERPRISE FUNDS: 137,732,888 124,698,878 28,560,901 166,293,789 187,567,587 25,057,047 141,236,742 4X2 Airport Operating & CIP 13,353,300 5,147,351 1,564,877 14,918,178 11,779,241 717,991 14,200,186 403 Solid Waste Utility 3,972,833 27,139,665 7,195,269 11,168,102 27,598,948 6,050,939 5,117,163 4X4 Golf Operating & CIP 2,611,727 4,547,600 489,523 3,101,250 5,261,273 1,071,266 2,029,984 4X5 Water Operating & CIP 56,673,939 19,881,884 4,594,509 61,268,448 51,889,091 5,448,522 55,819,926 4X6 Waste Water Operating & CIP 27,706,296 12,731,749 3,495,610 31,201,906 27,854,666 2,277,964 28,923,942 416 King County Metro 7,647,812 22,791,462 5,681,529 13,329,341 22,791,462 5,681,039 7,648,302 4X7 Surface Water Operating & CIP 25,766,981 32,459,167 5,539,584 31,306,564 40,392,906 3,809,326 27,497,239 INTERNAL SERVICE FUNDS: 88,880,929 50,412,522 12,119,113 101,000,042 59,941,120 11,299,663 89,700,379 501 Equipment Repair/Replacement 19,535,828 7,162,956 1,896,342 21,432,170 11,545,947 1,668,942 19,763,228 502 Insurance 25,781,347 8,020,527 1,625,297 27,406,644 7,710,055 1,700,805 25,705,839 503 Information Services 9,632,207 10,073,732 2,492,937 12,125,144 14,194,257 2,259,476 9,865,668 504 Facilities 1,962,169 7,696,815 1,983,974 3,946,143 7,755,279 1,618,083 2,328,060 505 Communications 779,557 - 1,943 781,500 - - 781,500 512 Insurance, Healthcare 10,517,642 16,538,492 3,737,655 14,255,297 17,049,360 3,722,283 10,533,014 522 Insurance, Leoff1 Retirees HC 20,672,179 920,000 380,965 21,053,144 1,686,222 330,074 20,723,070 FIDUCIARY FUNDS: 9,636,752 1,500,000 1,323,608 10,960,360 275,475 358,564 10,601,795 611 Firemens' Pension 9,636,752 1,500,000 83,633 9,720,385 275,475 73,365 9,647,019 630 Custodial Fund - - 1,239,975 1,239,975 - 285,199 954,776 TOTAL FUNDS 434,559,844 379,324,090 84,382,250 518,942,094 492,057,116 71,709,407 447,232,688