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HomeMy WebLinkAboutMONTH 2025 07Page 1 of 7 OVERVIEW This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through July 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 68,224,572$ Licenses and permits 4,609,897 Grants / intergovernmental 2,769,439 Charges for services 7,473,053 Interdepartmental services 26,479 Fines and penalties 1,953,875 Miscellaneous 1,276,808 Investment Earnings 2,806,915 Insurance recoveries 111,474 TOTAL REVENUES 89,252,512 EXPENDITURES: Personnel 47,319,616 Supplies 1,298,340 Contracted Services 13,620,410 Capital Outlay 43,255 Internal Services 11,330,182 TOTAL EXPENDITURES 73,611,803 Transfers In 651,911 Transfers Out (57,046) NET TRANSFERS 594,865 CHANGE IN FUND BALANCE 16,235,574 BEGINNING FUND BALANCE, Jan 1 115,968,225 ENDING FUND BALANCE, Jul 31 132,203,799$ ECONOMIC DEVELOPMENT RESERVE 2,500,000 OPERATING RESERVES 18,397,399 AVAILABLE FUND BALANCE, Jul 31 111,306,400$ Monthly Financial Report July 2025 Monthly Financial Report City of Renton, Washington July 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 255,729$ -$ 2,511,172$ -$ -$ -$ -$ -$ -$ Licenses and permits - 30,560 - - - - - - - Grants / intergovernmental - - - - 4,255 - - - - Charges for services - - - - - 27,279 73,734 - - Fines and penalties - - - - - - - - 14,919 Contributions - - - - - - - 177,496 - Investment Earnings 26,127 7,841 342,361 6,119 15,189 - 661 16,276 2,878 TOTAL REVENUES 281,856 38,401 2,853,533 6,119 19,444 27,279 74,395 193,772 17,797 EXPENDITURES: Personnel - - - - 4,758 - - - - Supplies - 5,336 - - - - - 108,231 272 Contracted Services 128,266 54,303 493,861 - 902 22,839 67,078 65,527 12,897 Capital Outlay - - - - - - - 57,355 - TOTAL EXPENDITURES 128,266 59,639 493,861 - 5,660 22,839 67,078 231,113 13,169 CHANGE IN FUND BALANCE 153,590 (21,238) 2,359,672 6,119 13,784 4,440 7,317 (37,341) 4,628 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, Jul 31 1,338,568$ 350,972$ 17,790,312$ 299,042$ 736,746$ 6,930$ 9,685$ 753,091$ 137,295$ General Governmental Misc Debt REVENUES: Grants / intergovernmental 25,546$ Investment Earnings 120,607 TOTAL REVENUES 146,153 EXPENDITURES: Principal 215,000 Interest 453,145 TOTAL EXPENDITURES 668,145 CHANGE IN FUND BALANCE (521,992) BEGINNING FUND BALANCE, Jan 1 5,812,247 ENDING FUND BALANCE, Jul 31 5,290,255$ Debt Service Reserve 2,706,325 AVAILABLE FUND BALANCE 2,583,930$ Monthly Financial Report City of Renton, Washington July 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 -$ -$ 1,332,143$ 1,332,143$ -$ 2,473,966$ -$ Grants / intergovernmental - - - - 331,666 7,479,956 - Charges for services 142,930 10,769,960 - - 10,250 9,648 - Contributions - - - - - 3,574,231 - Investment Earnings 9,233 147,310 116,687 59,361 578,829 367,426 82,641 TOTAL REVENUES 152,163 10,917,270 1,448,830 1,391,504 920,745 13,905,227 82,641 EXPENDITURES: Personnel - - - - 50,172 186,689 - Supplies - - - - 24,185 38,416 - Contracted Services - - - - 473,575 624,486 - Capital Outlay - - - - 2,608,042 9,602,025 - TOTAL EXPENDITURES - - - - 3,155,974 10,451,616 - CHANGE IN FUND BALANCE 152,163 10,917,270 1,448,830 1,391,504 (2,235,229) 3,453,611 82,641 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, Jul 31 511,907$ 14,530,592$ 6,509,724$ 3,704,169$ 25,945,287$ 17,586,056$ 4,020,188$ Monthly Financial Report City of Renton, Washington July 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 -$ -$ -$ -$ 49,550$ -$ 21,000$ Grants / intergovernmental 77,963 271,326 - - - - 309,689 Charges for services 2,823,678 14,246,590 2,001,468 10,634,125 7,442,284 13,395,091 8,424,514 Rents, leases, and misc fees - - 339,190 86,836 - - - Interest and other misc 315,021 202,805 59,984 1,333,310 861,136 159,528 5,102,115 TOTAL REVENUES 3,216,662 14,720,721 2,400,642 12,054,271 8,352,970 13,554,619 13,857,318 EXPENSES: Personnel 852,366 400,983 1,141,404 3,062,489 1,677,749 - 2,560,579 Supplies 59,575 22,614 265,026 625,699 46,658 - 80,937 Contracted Services 352,381 14,038,947 155,810 2,112,032 1,513,428 13,291,147 1,269,691 Internal Services 277,647 316,072 317,342 1,460,193 975,481 - 1,627,199 TOTAL OPERATING EXPENSES 1,541,969 14,778,616 1,879,582 7,260,413 4,213,316 13,291,147 5,538,406 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,674,693 (57,895) 521,060 4,793,858 4,139,654 263,472 8,318,912 DEBT SERVICE: Principal - - 26,448 - - - - Interest - - 512 49,730 22,490 - 27,793 TOTAL DEBT SERVICE - - 26,960 49,730 22,490 - 27,793 CAPITAL OUTLAY 1,466,914 - 458,295 4,937,371 2,703,830 - 3,908,657 Transfers In 3,882 29,756 329,544 30,847 33,690 - 30,268 Transfers Out - - (326,550) (27) (27) - (1,163) NET TRANSFERS 3,882 29,756 2,994 30,820 33,663 - 29,105 CHANGE IN FUND BALANCE 211,661 (28,139) 38,799 (162,423) 1,446,997 263,472 4,411,567 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, Jul 31 13,564,961$ 3,944,694$ 2,650,526$ 56,511,516$ 29,153,293$ 7,911,284$ 30,178,548$ 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 13,279,059$ 3,544,694$ 1,652,672$ 53,356,995$ 27,477,164$ 7,531,284$ 28,111,668$ Monthly Financial Report City of Renton, Washington July 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 -$ -$ 140,613$ -$ -$ -$ -$ Grants / intergovernmental 15,000 - 29,989 - - - 237,294 Charges for services: Equipment rental m&o 1,759,032 - 4,692,882 - - - - Facilities - - - 3,825,236 - - - Interest and other misc 397,540 532,661 194,319 37,355 3,791 226,157 430,990 Internal service fund misc: Vehicle/equipment capital recovery 1,689,271 - - - - - - Insurance premiums - 1,739,440 - - - - - Worker's comp/unemployment - 1,227,422 - - - - - Benefit premiums - - - - - 8,145,204 150,000 Other misc 805 9,997 - 117,513 - 324,823 105,521 Disposal of capital assets 983 - - - - - - Insurance recoveries 21,605 457,730 - - - 5,665 - TOTAL REVENUES 3,884,236 3,967,250 5,057,803 3,980,104 3,791 8,701,849 923,805 EXPENSES: Personnel 686,051 956,270 2,193,948 2,223,452 - 8,329,290 790,561 Supplies 1,064,937 1,702 386,334 403,258 - 3,674 - Contracted Services 289,579 3,298,207 2,388,765 1,500,105 - 286,360 35,847 Internal Services 76,017 - 2,428 104,567 - 62,190 - TOTAL OPERATING EXPENSES 2,116,584 4,256,179 4,971,475 4,231,382 - 8,681,514 826,408 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,767,652 (288,929) 86,328 (251,278) 3,791 20,335 97,397 CAPITAL OUTLAY 2,800,426 - 99,282 14,466 - - - Transfers In - - 29,545 13,115 - - - Transfers Out - - - - 783,348 - - NET TRANSFERS - - 29,545 13,115 (783,348) - - CHANGE IN FUND BALANCE (1,032,774) (288,929) 16,591 (252,629) (779,557) 20,335 97,397 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, Jul 31 18,503,054$ 25,492,418$ 9,648,798$ 1,709,540$ -$ 10,537,977$ 20,769,576$ Insurance Reserves - 20,253,866 - - - 5,114,808 20,769,576 Opearting Reserves 14,648,837 - 2,785,647 965,537 - - - AVAILABLE FUND BALANCE 3,854,217$ 5,238,552$ 6,863,151$ 744,003$ -$ 5,423,169$ -$ Monthly Financial Report City of Renton, Washington July 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 194,106$ -$ Collected for Others - 2,322,156 TOTAL REVENUES 194,106 2,322,156 EXPENDITURES: Distributions to Others 158,358 1,088,533 TOTAL EXPENDITURES 158,358 1,088,533 CHANGE IN FUND BALANCE 35,748 1,233,623 BEGINNING FUND BALANCE, Jan 1 9,636,751 - ENDING FUND BALANCE, Jul 31 9,672,499$ 1,233,623$ Monthly Financial Report City of Renton, Washington July 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 July 31, 2025 Funds Balance 01/01/2025 Budgeted Revenue Revenue 07/31/25 Total Funds Available Budgeted Expenditure Expenditure 07/31/25 Ending Balance GENERAL FUND 115,968,225 140,674,865 89,904,423 205,872,648 153,299,659 73,668,849 132,203,799 SPECIAL REVENUE FUNDS: 18,931,670 5,245,000 3,512,596 22,444,266 9,101,431 1,021,625 21,422,641 110 Hotel Motel 1,184,978 355,000 281,856 1,466,834 644,939 128,266 1,338,568 127 Cable Communication 372,210 60,000 38,401 410,611 97,674 59,639 350,972 130 Housing and Supportive Services 15,430,640 4,030,000 2,853,533 18,284,173 6,595,719 493,861 17,790,312 135 Springbrook Wetlands Bank 722,962 - 19,444 742,406 40,000 5,660 736,746 140 Police Seizure 790,432 - 193,772 984,204 790,432 231,113 753,091 141 Police CSAM Seizure 132,667 - 17,797 150,464 132,667 13,169 137,295 150 Affordable Housing Development 292,923 - 6,119 299,042 - - 299,042 31X School District Impact Mitigation 2,368 600,000 74,395 76,763 600,000 67,078 9,685 304 Fire Mitigation 2,490 200,000 27,279 29,769 200,000 22,839 6,930 DEBT SERVICE FUND 5,812,247 2,950,225 146,153 5,958,400 2,952,717 668,145 5,290,255 CAPITAL PROJECT FUNDS (CIP): 57,597,133 59,632,051 28,818,380 86,415,513 94,463,196 13,607,590 72,807,923 303 Community Services Mitigation 359,744 100,000 152,163 511,907 105,000 - 511,907 305 Transportation Mitigation 3,613,322 1,000,000 10,917,270 14,530,592 1,450,935 - 14,530,592 308 REET1 5,060,894 2,520,000 1,448,830 6,509,724 4,560,000 - 6,509,724 309 REET2 2,312,665 2,520,000 1,391,504 3,704,169 2,799,625 - 3,704,169 316 Municipal Facilities CIP 28,180,516 20,312,336 920,745 29,101,261 42,751,490 3,155,974 25,945,287 317 Transportation CIP 14,132,445 33,179,715 13,905,227 28,037,672 42,796,146 10,451,616 17,586,056 346 New Family First Center Dvlpmnt 3,937,547 - 82,641 4,020,188 - - 4,020,188 ENTERPRISE FUNDS: 137,732,888 125,271,013 68,615,190 206,348,078 191,509,143 62,433,256 143,914,822 4X2 Airport Operating & CIP 13,353,300 5,151,233 3,220,544 16,573,845 15,251,099 3,008,883 13,564,961 403 Solid Waste Utility 3,972,833 27,285,119 14,750,477 18,723,310 27,714,646 14,778,616 3,944,694 4X4 Golf Operating & CIP 2,611,727 4,650,594 2,730,186 5,341,913 5,390,273 2,691,387 2,650,526 4X5 Water Operating & CIP 56,673,939 19,912,731 12,085,118 68,759,057 51,889,091 12,247,541 56,511,516 4X6 Waste Water Operating & CIP 27,706,296 12,765,439 8,386,660 36,092,956 27,854,666 6,939,663 29,153,293 416 King County Metro 7,647,812 22,791,462 13,554,619 21,202,431 22,791,462 13,291,147 7,911,284 4X7 Surface Water Operating & CIP 25,766,981 32,714,435 13,887,586 39,654,566 40,617,906 9,476,019 30,178,548 INTERNAL SERVICE FUNDS: 88,880,929 50,450,293 26,561,498 115,442,427 62,095,057 28,781,064 86,661,363 501 Equipment Repair/Replacement 19,535,828 7,163,736 3,884,236 23,420,064 12,050,727 4,917,010 18,503,054 502 Insurance 25,781,347 8,020,527 3,967,250 29,748,597 7,970,555 4,256,179 25,492,418 503 Information Services 9,632,207 10,106,932 5,087,348 14,719,555 14,508,707 5,070,757 9,648,798 504 Facilities 1,962,169 7,696,815 3,993,219 5,955,388 8,046,138 4,245,848 1,709,540 505 Communications 779,557 3,791 3,791 783,348 783,348 783,348 - 512 Insurance, Healthcare 10,517,642 16,538,492 8,701,849 19,219,491 17,049,360 8,681,514 10,537,977 522 Insurance, Leoff1 Retirees HC 20,672,179 920,000 923,805 21,595,984 1,686,222 826,408 20,769,576 FIDUCIARY FUNDS: 9,636,752 1,500,000 2,516,262 12,153,014 275,475 1,246,891 10,906,122 611 Firemens' Pension 9,636,752 1,500,000 194,106 9,830,858 275,475 158,358 9,672,499 630 Custodial Fund - - 2,322,156 2,322,156 - 1,088,533 1,233,623 TOTAL FUNDS 434,559,844 385,723,447 220,074,502 654,634,346 513,696,678 181,427,419 473,206,928