HomeMy WebLinkAbout1993 CAFR E
di
f
r
3 e
$ pp
$� 4
fr
d .a
b
IVT dPe
(-'7or 14e year eniLd'-Acemler 31, 1993)
ell
n .,
"wr
a
200 Mill Avenue South, Renton, Washington 98055 * (206 23 N u
City of Renton 1993 CAFR
The City of Renton, Washington
Comprehensive Annual Financial Report
For the Year Ended December 31, 1993
r
OFFICE OF THE CITY CLERK
Fenton Municipal Bldg.
200 Mill Ave. So.
Renton, WA 98055
Introductory Section
r
Victoria A. Runkle
Finance and Information Systems Administrator
® This document printed on 50%recycled paper with 15%post-consumer waste.
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1993 ,
TABLE OF CONTENTS
ITEM ,
PAS,
INTRODUCTORY SECTION
City Organization Structure & Reporting Relations......................................................................................................................iii
Letterof Transmittal...............................................................................................................................................................iv
FINANCIAL SECTION
AUDITOR'S REPORT...............................................................................................................................................................2
COMBINED FINANCIAL STATEMENTS - OVERVIEW (General Purpose Financial Statements)
Combined Balance Sheet- All Fund Types and Account Groups................................................................................................4
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances All Governmental Fund Types..............................6 ,
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual.............................................7
Combined Statement of Revenues, Expenses, and Changes in Fund Equity Proprietary and Similar Trust Funds............................ 11
Combined Statement of Cash Flows Proprietary and Similar Trust Funds.................................................................................. 12
Notes to Financial Statements•
Note 1: Significant Accounting Policies............................................................................................................................ 19
ReportingEntity.............................................................................................................................................. 19
Basis of Presentation- Fund Accounting............................................................................................................ 19 ,
Basisof Accounting........................................................................................................................................ 19
Budgetsand Budgetary Accounting ..................................................................................................................20
Assets, Liabilities and Fund Equity....................................................................................................................20
Cashand Cash Equivalents.........................................................................................................................20
Investments .............................................................................................................................................20 ,
Inventories...............................................................................................................................................20
PropertyTaxes Receivable .........................................................................................................................20
AssessmentsReceivable............................................................................................................................21
FixedAssets and Depreciation....................................................................................................................21
Accumulated Unpaid Vacation &Sick Pay....................................................................................................21
Fund Equity- Reserves & Designations .......................................................................................................21
Direct Charges/Credits to Enterprise Funds Retained Earnings.........................................................................21
RiskManagement and Risk Retention..........................................................................................................21 '
Note 2: Stewardship, Compliance and Accountability........................................................................................................21
Note3: Cash & Investments ..........................................................................................................................................22
Note4: Deferred Compensation......................................................................................................................................22
Note5: Receivables and Payables...................................................................................................................................22
Note 6: Operating and Residual Equity Transfers...............................................................................................................24
Note7: Fixed Assets.....................................................................................................................................................24
Note8: Prepaid Items....................................................................................................................................................25
Note9: Joint Ventures..................................................................................................................................................25 ,
Note 10: Pension Plan & Other Postemployment Benefits...................................................................................................25
PERSand LEOFF.............................................................................................................................................25
Firemen's Pension...........................................................................................................................................27
Note1 1: Construction Commitments...............................................................................................................................28
Note12: Long-Term Debt...............................................................................................................................................28 '
Note 13: Deferred Charges in Proprietary Funds ................................................................................................................33
Note 14: Reservations and Designations of Fund Equity......................................................................................................33
Note 15: Segment Information for Enterprise Funds...........................................................................................................34
Note16: Litigation.........................................................................................................................................................34 '
Note17: Risk Management.............................................................................................................................................34
Note18: Prior Period Adjustments...................................................................................................................................35
Note19: Subsequent Events...........................................................................................................................................35
COMBINING FINANCIAL STATEMENTS AND SCHEDULES OF INDIVIDUAL FUNDS AND ACCOUNT GROUPS:
General Fund•
ComparativeBalance Sheet.............................................................................................................................................. 38
Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................................39
Statement of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual.........................................................40
i
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1993
TABLE OF CONTENTS-CONTINUED
ITEM PAGE
Special Revenue Funds:
CombiningBalance Sheet.................................................................................................................................................42
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances...................................................................44
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................46
Debt Service Funds:
CombiningBalance Sheet.................................................................................................................................................54
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances................................................................... 56
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................58
Capital Project Funds:
CombiningBalance Sheet.................................................................................................................................................66
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance....................................................................68
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual........................................70
Enterprise Funds:
CombiningBalance Sheet.................................................................................................................................................76
Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................78
CombiningStatement of Cash Flows.................................................................................................................................80
Internal Service Funds:
Combining Balance Sheet...............................................................
Combining Statement of Revenues, Expenses, and Changes in Fund Equity...........................................................................87
Combining Statement of Cash Flows.................................................................................................................................88
Fiduciary Funds:
CombiningBalance Sheet.................................................................................................................................................90
Firemen's Pension Trust Fund Comparative Statement of Revenues, Expenses, and Changes in Fund Equity..............................92
Firemen's Pension Trust Fund Comparative Statement of Cash Flows...................................................................................93
Combining Statement of Changes in Assets and Liabilities All Agency Funds.........................................................................94
General Fixed Asset Account Group:
ComparativeBalance Sheet..............................................................................................................................................96
Schedule of General Fixed Assets by Source......................................................................................................................97
Schedule of General Fixed Assets by Function and Activity..................................................................................................98
Schedule of Changes in General Fixed Assets by Function and Activity.................................................................................98
General Long-Term Debt Account Group:
ComparativeBalance Sheet............................................................................................................................................ 100
STATISTICAL SECTION
Table 1: General Government Revenues& Expenditures- Last Ten Fiscal Years.................................................................... 102
Table 2: Assessed Value, Property Tax Rates, Levies and Collections- Last Ten Fiscal Years................................................. 104
Table 3: Ratio of Net General Obligation Debt to Assessed Value & Net Bonded Debt per Capita- Last Ten Fiscal Years ........... 106
Table 4: Special Assessment Billings and Collections- Last Ten Fiscal Years........................................................................ 107
Table 5: Computation of Legal Debt Margin- December 31, 1992 ...................................................................................... 108
Table 6: Computation of Direct and Overlapping Debt-December 31, 1992 ........................................................................ 109
Table 7: General Obligation Bonds/Expenditure Ratio- Last Ten Fiscal Years......................................................................... 110
Table 8: Revenue Bond Coverage- Last Ten Fiscal Years................................................................................................... 1 1 1
Table9: Retail Sales By Source....................................................................................................................................... 112
Table 10: Largest Taxpayers and Principal Employers.......................................................................................................... 113
Table 11: Construction and Bank Deposits- Last Ten Fiscal Years........................................................................................ 114
Table 12: Demographic Statistics- Last Ten Fiscal Years.................................................................................................... 115
Table13: Miscellaneous Statistics.................................................................................................................................... 116
ii
City of Renton 1993 CAFR
Corporate Organization & Reporting Relationships
RENTON'S MISSION STATEMENT
RENTON The City of Renton,in partnership with residents,
CITIZENS business,and government, is dedicated to:
Providing a healthy atmosphere in which to live&raise families:
Encourage responsible growth and economic vitality;
Create a positive work environment;
Resulting in a quality community where people choose
Councilmembers: to live, work and play.
Richard Stredicke,
President Earl Clymer
Randy Corman
Toni Nelson Mayor
Tim Schlitzer
Bob Edwards
Jesse Tanner
Kathy Keolker-Wheeler
PLAN/BLDG/PUBLIC WORKS EXECUTIVE DEPARTMENT FINANCE&INFORMATION SERVICES
Gregg Zimmerman
Interim LILarry
y Attorney Executive Assistant '
Administrator Warren Jay Covington Victoria Runkle
Administrator
Development Transportation
Services Director Systems Director Municipal Court Accounting&
Hearing Examiner g Information
Jim Hanson Mel Wilson Judge �BudgetingDirectorFred KaufmanRoger Lewis Vaant Systems Director
Phil Jewett
F
m Interim Utilities
/Tech Systems Director
DirectorRon Olsenermann Personnel Director City Clerk
Beverly Nelson-Glode Marilyn Petersen
Maintenance
Services Director '
Jack Crumley
FIRE DEPARTMENT POLICE DEPARTMENT COMMUNITY SERVICES
Lee Wheeler Alan Wallis Sam Chastain
Chief Chief ,
Administrator
Jim Mathew Garry Anderson Don Persson Parks&Rec Director Library Director
Deputy Chief Captain Captain Bill Hutsinpiller Clark Petersen ,
Suppression
Glen Gordon Prevention Operations Support Services Human Services
Art Larson Bureau Bureau Facilities Director Manager
Jack McLaughlin Jim Shepherd g
Larry Weiss Deputy Chief/ Carolyn Sundvall '
Battalion Chief Fire Marshal Investigation Crime Prev
Patrol/Traffic Adm Sv/Training
Animal Control Staff Sery
Gambling Enforcmt Jail
Emerg Mgt Safety
Ray Barilleaux Larry Eager
Battalion Chief Battalion Chief
1
iii
aw
CITY OF RENTON
"LL Finance & Information Services
Earl Clymer, Mayor Victoria A. Runkle, Administrator
Honorable Earl Clymer, Mayor June 16, 1994
Members of the Renton City Council
City of Renton
200 Mill Avenue South
Renton, WA 98055
rr
Dear Mayor and Council Members:
r. TRANSMITTAL OF 1993 COMPREHENSIVE ANNUAL FINANCIAL REPORT
This correspondence transmits a copy of Renton's Comprehensive Annual Financial Report for the year ending December 31,
1993. It also provides a brief overview of the information contained in the annual report. The letter of transmittal has been
organized into five sections: 1)Introduction;2)Economic Condition and Outlook;3)Major Program Initiatives;4)Financial
Information;and 5)Other Information.
INTRODUCTION
a
The introductory section provides you with information regarding the Comprehensive Annual Report's structure, various
representations pertaining to responsibility for drafting the document, and the statutory requirements that frame the
preparation of this report.
Management Representation The City of Renton Finance and Information Services Department is responsible for the
accuracy, completeness, and fairness of presentation of the information contained in this report. The department warrants
that,to the best of our knowledge and ability, the data and disclosures reported are both accurate in all material aspects, and
they fairly represent Renton's financial position and results of operations of its various funds and account groups. This report
r.r is prepared in accordance with the requirements of Washington State Law 43.09.230, and in conformance with Generally
Accepted Accounting Principles.
CAFR Contents The report is divided into three sections: 1) The Introductory Section, which includes the Table of
Contents,the City of Renton Organization Chart and principal officials,and a Letter of Transmittal;2)The Financial Section
includes an independent auditor's report, and the combined financial statements and accompanying note disclosures, followed
by combining financial statements by fund type and account group. The Combined Financial Statements, together with the
Notes To The Financial Statements, comprise the General Purpose Financial Statements, which provide an overview of the
financial position and the results of operations for the City;and 3)The Statistical Section,which presents financial,economic,
rr social,and demographic data about the City. The statistical section is useful in revealing trends which have and may continue
to affect the City of Renton.
Reporting Entity This report includes all City funds, account groups,agencies,boards, and commissions that are controlled
by,or dependent,on the City. Control by or dependence upon the City was determined on the basis of authority to appoint or
tir
iv
r
City of Renton 1993 CAFR ,
remove the majority of board members, financial support including debt secured by revenues or general obligations of the
City,obligation of the City to finance any deficits that may occur,or receipt of significant subsidies from the City.
This report does not include the financial position or results of operations for the Renton Housing Authority. The Housing
Authority has been excluded because the City neither reviews their budget, nor is obligated to fund any of their deficits. The
Mayor does appoint members to the Housing Authority Board.
Renton is a participant in the Valley Communications Center, which provides consolidated emergency dispatch services for '
the Cities of Auburn, Kent, Renton, and Tukwila. Each city shares a portion of support to the center, based on dispatchable
call services provided to each entity. The Valley Communications Center is reported in the City's financial statements as a
joint venture.
ECONOMIC CONDITION AND OUTLOOK '
The economic condition section of the transmittal letter briefly reviews the status of the local economy, operation of major
industries,and future economic outlook.
General The City of Renton is located 11 miles south of Seattle at the southern end of Lake Washington. Renton is the
fourth largest city in King County, and the tenth largest city in the state, with an official 1993 population of 43,470.
Residential growth in the City is generated around single family residential construction geared to middle and upper-middle
income families. New commercial and industrial development has primarily been centered either in industrial parks, or as a
part of concentrated industrial support for the City's major commercial and industrial enterprises.
The following table presents the City's growth over the past ten years. This table shows significant growth during the ten year
period. The assessed valuation change is distorted by the removal of inventory from the base in 1985. The City continued to
experience a slow growing economy in 1993. Sales tax revenue grew 7.84 %. This was largely due to increased sales of
automobiles and revenue from two major construction projects: Interstate 405 and the Boeing Customer Service Training
Center. The latter project will translate into 10,000 permanent jobs over the next decade. Property tax receipts grew by
8.5%. As building permits slowed, so did the new facilities that add to the property valuation. Building permit fees were
down by 11.39%. Boeing employment in Renton went from a high of 28,000 employees in early 1992 to 17,800 at the end of ,
1993. Yet other revenues including utility taxes,park fees and animal licenses held constant with some increases for inflation.
Growth Indicator 1984 1993 Chan e %Chane
Population 33,342 43,470 10,128 30%
Assessed Valuation $ 2,030,798,999 $ 3,429,366,124 $ 1,398,567,125 69% ,
Building Permit Value $ 76,697,472 $ 98,385,628 $ 21,688,156 28%
Retail Sales $ 638,289,000 $ 1,175,380,122 $ 537,091,122 84%
In response to the changing manufacturing industry, the City of Renton embarked on an aggressive economic development
strategy. In 1993, working with the Downtown Renton Association, the Chamber of Commerce, Boeing, PACCAR, and ,
numerous building owners and developers,the City hired an economic development coordinator and began to market Renton's
attributes. At the mid-point of 1994 the benefits of this effort are beginning to show. The City will be the new home of a
private continuing education facility,City University; in late 1994 a new IKEA,a home furniture store,will open; and several
other companies are beginning to take advantage of the transportation and rental opportunities Renton offers. '
This effort builds on the continued strength the City has in a strong manufacturing sector with the Boeing and Pacific Car and
Foundry (PACCAR) facilities. Within the City limits, Boeing houses its Commercial Airplane, Computer Services, and ,
Electronics Divisions. The 737 and 757 jet airliners are built in Renton. Further,the company is designing a new generation
of the 737, the 737X, in Renton. PACCAR completed its new facility in Renton in 1993, and is now producing Kenworth
Trucks.
In addition to the manufacturing sector,the City has a regional medical center,Valley Medical Center,which serves the entire
south part of King County. The medical center's extended 1,737 employees serve a population of 375,000 with the center's
255-bed hospital. Over 350 physicians work at and around the hospital. ,
V
aw City of Renton 1993 CAFR
Future Economic Outlook At the end of 1993, the efforts of the City in its economic development began to show results.
The City had to reduce its 1994 General Fund and Transportation budgets to respond to continuing decreases at Boeing.
However,the City understands it must continue to diversify its economy. Boeing expects that their major layoffs have ceased.
They have stated employment levels will never again swing from the significant highs of the mid 1980's to the lower levels in
1993. For the City to remain healthy, diversified service and light manufacturing industries need to be attracted to the
business core.
Some of this has started without significant City action. A small Sears store will be replaced with a Fred Meyer superstore in
1994. Locations known as Renton Village and Renton Center,both in the downtown area,will undergo significant change in
their retail composition. In 1994 a fine arts gallery opened in the Downtown core, adding a significant look and feel to the
area. The local dinner train,the Spirit of Washington,continues to run daily from Renton to wineries in north King County.
A major state initiative in health care will be implemented in 1995. We have yet to ascertain what impact this will have on
.. our employees and health care costs. A statewide initiative limiting state expenditures and taxes has not had an impact on
local governments. However,we have joined with local governments to carefully watch the state. While we receive only 6%
of our general fund budget from interlocal revenues, they do pay for special programs such as gambling enforcement,
transportation,and programs to treat health and alcohol related problems.
MAJOR PROGRAM INITIATIVES
r
The program initiative section will outline major programs which the Council has adopted in the past years and continued in
1993.
Corporate Goals The City has identified three primary goals for its operations: 1)providing a healthy atmosphere in which
to live and raise families; 2) encouraging responsible growth and economic vitality; and, 3) creating a positive work
environment. The City of Renton, in partnership with residents, business, and government, is dedicated to maintaining and
enhancing these goals, in order to provide a quality community where people choose to live,work,and play.
Progress on Goals Over the past year,the City continued to purchase significant areas of green space for its citizens. In late
1993, the City acquired a site known as NARCO. An old brickmaking facility, the 52-acre site will meet several different
r recreational needs for families. The site will include quiet passive areas,ballfields,and a trail system. It is directly across the
Cedar River from the City's Community Center,connected with a footbridge. In addition to this acquisition,the City has been
able to begin to build a small park that offers picnic facilities, hiking, and access to the soon-to-be completed Cedar River
wr
Trail. All of this contributes to a better quality of life for the City's residents.
As stated earlier,the City addressed its second goal by beginning a significant economic development program. In addition to
hiring an economic development coordinator, the City began to help fund a Downtown Renton Association position. This
position,with the Chamber of Commerce and the City's help, is beginning to address transportation, lighting, and community
development activities that will add to the vitality of the downtown core. One of the results will be significant parking and
tree changes to the area in 1994.
The City has also actively participated in the region's discussion of growth management and allocation of that growth as
dictated by the State's Growth Management Act. Urban centers were identified in 1993,with Renton being designated as one.
As the year came to a close the City's Comprehensive Plan was being completed. After adoption by the Council, the City
must continue to work regionally for the correct mix of affordable and low income housing, transportation, and the allocation
of financial resources to pay for growth.
u. Employee relations required significant work in 1993. The downturn in the economy came simultaneously with the end of
labor agreements with six bargaining units. In late 1993, the City completed negotiations with the AFSCME union
representing professional and support employees,known as 21-R. Negotiations were also completed with the Firefighters and
Battalion Chiefs union. By the end of the first quarter of 1994, the Police Guild and the Non Commissioned Officers
bargaining units settled. The managers of the City bargained as a collective unit, and their negotiations were completed in
early 1994. The agreements ranged from 1 1/2 % to 3 % increases. The City was able to maintain benefits and salary
u. vi
City of Renton 1993 CAFR
increases for current employees by establishing a new salary range for new firefighters,police officers,and non commissioned
police officers. Management and 21 R employees choose not to institute a two-tiered pay range.
In addition to the negotiations, the City continued to meet employee needs with various City-wide training, a monthly ,
newsletter, and wellness programs. At the beginning of 1994, City-wide staff and Council workshops were conducted. The
goals and priorities outlined throughout this document were confirmed.
FINANCIAL INFORMATION
The financial information section of the transmittal letter will discuss accounting/budgetary controls, and summarize the ,
operating results for Renton's major fund groups.
Accounting and Administrative Controls The City utilizes various accounting and administrative controls to ensure '
stewardship responsibilities are fulfilled. Accounting control includes the plans, procedures, and systems used to safeguard
assets and the reliability of financial records. These controls provide reasonable assurance that transactions are executed in '
accordance with management authorization,recorded in conformity with Generally Accepted Accounting Principles, and that
sufficient reporting and review exist to provide adequate information for comparability and analysis of data. Administrative
control refers to the decision making process utilized to establish management authorization for financial transactions, and is
the starting point for establishing accounting controls.
Washington State cities and counties must comply with the Budgeting, Accounting and Reporting System prescribed by the
Office of the State Auditor. State laws also provide for annual independent audits by the Office of the State Auditor. Audits
routinely include a thorough review of all administrative and accounting policies and procedures.
Budgetary control is integrated with the accounting system. Budgeting is carried out in accordance with State RCW 35A.33.
Annual appropriated budgets are adopted for the General, Special Revenue, Debt Service and Capital Projects Funds, with
appropriations lapsing at year-end. Enterprise and Internal Service Fund budgets are for management control only and are,
therefore, not reported. A budget increase or decrease to a fund must be authorized by the City Council, while transfers
within a fund may be authorized by the Mayor. All budgets are controlled at the fund level. An encumbrance system is ,
maintained to account for all commitments resulting from approved purchase orders and contracts and serves as an additional
measure of budgetary control. Open encumbrances lapse at year-end and are reappropriated or absorbed in the next year's
operating budget. '
General Governmental Revenues General Governmental operations consist of General Fund, Special Revenue Funds and
Debt Service Funds. The following table summarizes the revenues by source for 1992 and 1993. ,
General Government Revenues 1993 1992 Change
and Other Sources Amount % Amount % Amount % '
Property Taxes $ 11,904,568 18.5% $ 10,972,810 20.8% $ 931,758 8.5%
Sales Taxes 10,525,696 16.4% 9,795,789 18.6% 729,907 7.5% ,
Utility Taxes 5,617,061 8.7% 5,040,211 9.6% 576,850 11.4%
Other Taxes 3,156,840 4.9% 6,933,933 13.1% (3,777,093) (54.5%)
Licenses and Permits 1,145,967 1.8% 1,258,803 2.4% (112,836) (9.0%)
Intergovernmental Revenues 4,297,932 6.7% 2,892,682 5.5% 1,405,250 _ 48.6% ,
Charges for Services 1,437,069 2.2% 1,610,795 3.0% (173,726) (10.8%)
Fines and Forfeits 881,016 1.4% 884,692 1.7% (3,676) (40/6)
Interest 1,015,369 1.6% 1,330,794 2.5% (315,425) (23.7%) ,
Miscellaneous Revenue 1,234,467 1.9% 2,480,072 4.7% (1,245,605) (50.2 00
Sub-total Revenues 41,215,985 64.1% 43,200,581 81.9% (1,984,596) (4.6%)
Other Financing Sources 11,039,750 17.2% 797,888 1.5% 10,241,862 1283%
Beginning Fund Balance 12,024,394 18.7% 8,726,560 16.6% 3,297,834 37.8%
Total Resources and Fund Balance $ 64,280,129 100.0% $ 52,725,029 100.0% $ 11,555,100 22.0%
vii
City of Renton 1993 CAFR
The 1993 General Governmental revenues totaled $41.2 million, a decrease of$2 million, or 4.6% less than 1992. Taxes
allocated to these funds decreased by 4.7%. The following addresses the fluctuations between 1992 and 1993 for revenue
categories listed above: 1) Property Taxes - The increase of 8.5% is due to annual maintenance of 6% and 2.5% of new
construction. 2)Sales Taxes-The increase is due to inflation pressures on sales prices and construction costs associated with
the I405 project. 3) Utility Taxes-The increase is attributable to population increases and the inclusion of cellular phone
utility tax in this category. 4) Other Taxes - The decrease is due to a one-time mitigation fee of$4 million in 1992 that
caused other taxes to drop by 54.5% in 1993. 5) Licenses and Permits - A downturn in employment at Boeing and other
businesses, along with a substantial decrease in the number of residential building permits has caused this number to drop by
9%in 1993. 6) Intergovernmental Revenues-Increases represent Fire District 25 revenue and increases in grants for capital
projects. 7) Charges For Services-Decrease is attributable to fewer impact mitigation fees being collected in 1993.
8) Interest Revenue- Interest rates on investments were lower than in 1992. 9) Other Financing Sources- Bond proceeds
and transfers between funds
General Governmental Expenditures The City's General Governmental operating expenditures and other uses, which
include General, Special Revenue and Debt Service Fund types,are summarized below.
r
General Government 1993 1992 Change
Expenditures and Other Uses
Amount % Amount % Amount %
General Government $ 5,258,009 8.2% $ 5,607,839 10.6% $ (349,830) (6.2%)
Security of Persons/Property 15,654,019 24.3% 13,551,649 25.7% 2,102,370 15.5%
Physical Environment 1,163,369 1.8% 1,157,112 2.2% 6,257 0.5%
Transportation 2,937,977 4.6% 3,074,076 5.8% (136,099) (4.4%)
Economic Environment 3,155,164 4.9% 3,041,773 5.8% 113,391 3.7%
Mental and Physical Health 8,983 0.0% 10,992 0.0% (2,009) 18.2%
Culture and Recreation 4,603,052 7.1% 4,291,090 8.2% 311,962 7.3%
Capital Outlay 549,412 .9% 4,863,209 9.2% (4,313,797) (88.7%)
Debt Service 3,554,238 5.5% 3,947,606 7.5% 393,368 10.0
Sub-total Expenditures 36,884,223 57.3% 39,545,346 75.0% (2,661,121) (6.7%)
Other Financing Uses 12,871,015 20.0% 1,155,289 2.2% 11,715,726 1014%
Ending Fund Balance 14,631,484 22.7% 12,024,394 22.8%_ 2,607,090 21.7%
Total Expenditures/Fund $ 64,386,722 100.0% $ 52,725,029 100.0% $ 11,661,695 22.1%
W Balance
Expenditures for general governmental functions totaled $36.9 million in 1993, a decrease of 6.7 % or $2.7 million over
1992. The firefighters were the only bargaining unit in 1993 which had a cost-of-living agreement with the City. They
received a 3 % increase. All of the other bargaining units were in negoitiations:during 1993 and were not granted a COLA
until final agreements were reached. During 1993, 88%of the City's work force was included in these general governmental
+r• funds. The following identifies major fluctuations between 1992 and 1993: 1)General Governmental- Increases in salaries
and health benefits are offset by reduced spending in all other areas. 2) Security of Persons/Property- The major areas of
increase are associated with salaries and benefits to accommodate the cost-of-living increase. 3) Culture and Recreation-
The increase of 7.3 % is due primarily to salaries and benefits. 5) Other Financing Uses - Primarily related to payments
made to the bond trustee and interfund transfers.
General Governmental Fund Balance The table on the next page provides a summary of General Governmental revenues,
expenditures and fund balance for 1992 and 1993, which includes General, Special Revenue and Debt Service Fund types.
The 1993 revenue decreased by$2 million or 4.7 %, and expenditures were $2.7 million or 6.7 % less than 1992. The 1993
revenues exceeded expenditures by $4.3 million. Although the total ending fund balance increased by $2.6 million, it is
important to note that the majority of this fund balance is designated for special purposes and is not available for
appropriation.
r viii
City of Renton 1993 CAFR '
General Government Revenues,Expenditures
Chan e
and Fund Balance 1993 1992 Amount Percent
Total Revenues $ 41,215,985 $ 43,200,581 $(1,984,596) (4-70/6) '
Total Expenditures 36,884,223 39,545,346 2,661,123 6.7%
Excess of Revenues over Expenditures 4,331,762 3,655,235 676,527 18.5%
Other Increases(Decreases) (1,724,672) (357,401) (1,367,271) (382.6%) '
Fund Balance January 1 12,024,394 8,726,560 3,297,834 37.8
Fund Balance December 31 $ 14,631,484 $ 12,024,394 $ 2,607,090 21.7%
Proprietary Operations The City's proprietary operations include four enterprise and two internal service funds. ,
The four enterprises are: A Water/Waste Water/Surface Water (Waterworks) Utility, Municipal Airport, Municipal Golf
Course and Solid Waste Utility. Each enterprise reimburses the General Fund for services received, including data
processing, central stores, and printing. The amount charged is expressed as a percentage of operating expenses, together '
with operation summaries of these enterprises as listed below.
Waterworks Ai rt Solid Waste Golf Course '
Item 000's 1993 1992 1993 1992 1993 1992 1993 1992
Operating Revenues $ 14,832 $ 13,926 $ 612 $ 552 $ 6,252 $ 6,299 $ 804 $ 899 ,
Operating Exp.w/o Der 10,478 9,767 295 284 6,470 6,225 530 554
Operating Inc.w/o Depr $ 4,354 $ 4,159 $ 317 $ 268 $ (218) $ 74 $ 274 $ 345
General Fund Reimb $ 1,910 $ 1,322 $ 32 $ 32 $ 211 $ 145 $ 20 $ 9
Reimbursement as a%of
Operating Expense 18.23% 13.54% 10.85% 11.27% 3.27% 2.33% 3.78% 1.62%
Available for Debt Service $ 6,331 $ 5,814 $ 368 $ 322 $ N/A $ N/A $ N/A $ N/A
Debt Service Coverage 2.36 2.63 7.23 6.60 N/A N/A N/A N/A ,
Retained Earnings $ 9,411 $ 8,807 $ 3,347 $ 3,053 $ 800 $ 912 $ 2,018 $ 1,820
Each year the Council analyzes the budgets, capital improvement programs (CIP) and the rates for all four of the City's
utilities. In addition,the Council reviews the increase in sewer rates by King County(formerly METRO)for the transport and '
treatment of all sewage in the County. The primary driver of the increases were the CIP expenditures. It is expected the CIP
will continue to push rate increases through the next decade as the City meets aging and growth needs of the current systems.
Effective January 1, 1993, the Council approved an 8.2 % increase in water rates and a 9.5 %increase in Waste Water rates. '
The Water Utility completed the Maplewood Booster Pump Station and Treatment Building, construction of the Talbot Hill
Transmission line replacement, and the Mt. Olivet Pump Station Rehabilitation. The Waste Water Utility completed the
Sierra Heights ILD project, and design for the East Renton Interceptor and Highgate Lift Station Elimination projects . In ,
addition,homeowners in King County experienced a 10%increase in water rates.
Solid Waste rates increased by 3.9%in 1993. The Utility sponsored Spring and Fall Collection events that permitted citizens
to dispose of bulky yard waste, used motor oil, oil filters, and antifreeze, white goods and tires. The City's curbside
recycling/yard waste collection continues its success with a residential diversion of 54 %. A new multi-family recycling
ix
r City of Renton 1993 CAFR
Im program began in the spring with an eight-month diversion rate of 10 % of the waste stream from this customer group.
Overall diversion of the total City waste stream is 22%.
Surface Water Utility taxes did not increase in 1993. The Utility began the Cedar River Delta Dredging Project funded by a
state grant and Boeing. Work continued on the Wetlands Mitigation Bank plan which is attempting to develop a
comprehensive plan to save large useful wetlands in exchange for lower class wetlands. In addition to having its own water
sources and managing separate utilities,the City of Renton also maintains its own municipal airport. It services two primary
r customers: individual users and The Boeing Company. Airport leases comprise the primary funding source, with Boeing
paying for 37 % of the total lease revenues. The Airport continues to average approximately 144,000 annual take-offs and
landings per year. Of the annual take-offs and landings,over 90%are small planes.
The Golf Course Fund was created in January 1985 with the adoption of Ordinance #3884. The Ordinance authorized
issuance of$3,965,000 Councilmanic General Obligation Bonds to acquire, improve, and develop the golf course. The
Maplewood Golf Course is an 18-hole course and is operated by a concessionaire, and maintained by the City through the
r Recreation Division of the Community Services Department. Due to poor weather conditions in 1993,approximately 12,000
less rounds were played than in 1992. Debt retirement of the refunded 1986 general obligation bonds used to acquire the golf
course is funded each year by a transfer from the General Fund. $375,575 was transferred in 1993. Major capital
improvements in process include preliminary design of a clubhouse/driving range and irrigation improvements.
Internal Services Renton's two Internal Service operations are the Equipment Rental and Insurance Funds. Equipment
Rental meets the maintenance and replacement needs of over 200 City vehicles and auxiliary equipment by charging user
departments a rental fee. The City allocated approximately$512,350 for replacement of 18 vehicles in 1993.
r.
Risk Management In 1984,the City adopted a comprehensive self-insurance program for its liability,property,and worker's
compensation exposures. The Insurance Fund was established to account for this activity. In the program, the City retains
$250,000 liability per property and general liability claim. The Insurance Fund charges City departments to finance their risk,
based on the claims history and cost of excess insurance coverages. Claims payments and appropriate excess insurance
coverages are financed by the fund.
an The City began self insuring for health care in 1985. Dental coverage was folded into the self-insurance plan in 1988. Excess
medical loss insurance is purchased to provide coverage in excess of$70,000 per person with a maximum life time coverage
of$1,000,000 per person. In 1993, 521 employees with 1,032 dependents, 21 Cobra and 75 eligible retired firefighters and
• policemen were covered under this program.
In addition to regular insurance activity, the City uses the Insurance Fund to build up an operating reserve to protect against
future economic revenue downturns. The operating reserve is targeted at 8 % of the general governmental expenditures
rr (General, Parks, Street, Library, and Limited Debt Service Funds). At year-end, the 8 %target was $2,825,673. The City
increased premiums by 25 % in 1993 and will increase premiums by an additional 15 % in 1994. The 1994 increase in
premiums along with an additional transfer of$500,000 from excess 1993 revenues will increase the operating reserve to$1.9
million. The following table summarizes the Self-Insurance Fund operations for 1993:
Property& Workers Unemploy.
Item Medical Dental Liability Comp. Comp. Total
Claims Paid $1,992,283 $ 427,987 $1,496,315 $ 208,472 $ 34,014 $4,159,071
Excess Loss Coverage 105,756 0 429,627 0 0 535,383
Administrative Fees 130,725 0 10,145 0 0 140,870
Total Costs 2,228,764 427,987 1,936,087 208,472 34,014 4,835,324
Premium Received 2,324,267 472,019 758,141 396,419 40,150 3,990,996
Surplus(Deficiency) $ 95,503 $ 44,032 $(1,177,946) $ 187,947 $ 6,136 $ (844,328)
r Debt Administration The following table displays the City's remaining general obligation debt capacities, outstanding debt,
and the ratio to 1994 current assessed value($3,407,827,283):
r
r x
City of Renton 1993 CAFR r
Remaining Capacity Percent Net Outstanding Percent
T e of G.O Bond Issue as of 12/31/93 of AV Debt as of 12/31/93 of AV
General Purpose:
General/Non-Voted $ 13,847,461 0.41% $ 11,711,244 0.35% ,
General/Voted 54,438,708 1.60% 5,198,269 0.16%
Total General Purpose 68,286,169 2.01% 16,909,513 0.51%
Parks/Open Space 81,122,274 2.38% 4,369,719 0.13%
Ut ity Purpose 85,195,682 2.50% 0 0.00% '
Total Debt Ca aci $234,604,125 6.89% $ 21,279,232 0.64%
During 1993 $1,535,000 of general obligation bonds, $165,109 of installment contracts, and $1,300,000 of revenue bonds
were retired. Bonds issued during 1993 included $13,840,000 in general obligation refunding bonds, $350,000 Flex-line
general obligation bonds,$5,285,000 in revenue bonds and$8,860,000 in revenue refunding bonds. The City also contracted
for two new Public Works Trust Fund Loans totaling$477,925. During 1993, $9,420 of these loans were redeemed. These
loans are from the Washington.State Department of Community Development and the proceeds are being used for sewer '
improvements. The City's current bond rating is Al from Moody's Investors Service for both general obligation and revenue
bonds.
Cash Management The City operates an aggressive cash management program, investing all surpluses as determined by
anticipated cash flow needs. Investment decisions are based on established investment policies, analysis of liquidity ,
requirements,safety assurances and yield. The City's portfolio consists of federal government obligations, investments in the
State Investment Pool,prime banker's acceptances, and certificates of deposit with maturities ranging from one day to sixteen
years.
Safeguarding assets is of primary concern to the City and its regulating agencies. In April of 1987, the Governmental
Accounting Standards Board issued Statement #3, requiring detailed disclosure regarding the risk associated with deposits
and investments held by the City. A categorization procedure was established, where Category 1 includes investments that
are either insured,registered or held by the City or its agent in the City of Renton's name; Category 2 includes uninsured and
unregistered investments held by the counterparty's trust department or agent in the City's name; and Category 3 includes
uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent but
not in the City's name. This categorization for the City of Renton is included in Note 3 of the Notes to the Financial '
Statements. In order to assure the highest degree of safety on all City investments, a safekeeping agreement was established
for all securities purchased after December, 1988. This will insure investments meet the Category 1 classification test.
The Washington State Treasurer manages a State Investment Pool for use by any city,county,town,municipal corporation,or '
special taxing district within the state. Municipalities determine the amount and length of investment based on individual cash
flow needs. Interest is earned based on the pool's actual experience for the month,less an administrative fee. The interest rate
earned by the pool has become a recognized benchmark for entities to measure their own portfolio performance. In 1993,the
average interest rate earned by the State Investment Pool was 3.41%, compared to the 4.55% earned by the City. The
following table compares 1992 and 1993 investment activity.
Item 1993 1992 Difference
Average Invested Balance $37,655,112 $36,823,737 $ 831,375 '
Average City Interest Rate 4.55% 4.84% -.29%
Average State Pool Rate 3.41% 3.94% -.53%
Total Interest Earnings $ 1,805,166 $21012,232 $(207,066) ,
OTHER INFORMATION ,
The fmal section of the letter of transmittal will provide information regarding the City's annual audit, awards, and
acknowledgments.
Xi
r City of Renton 1993 CAFR
Independent Audit Washington State Law requires an annual audit of the City's financial statements by the independently
lir
elected State Auditor. The State Auditor conducts the audit in accordance with generally accepted auditing standards, as
promulgated by the American Institute of Certified Public Accountants(AICPA),and provides an independent opinion on the
City's financial position and results of operations and the cash flows of its proprietary fund types. In addition to the opinion
on the City's financial statements included in this report,the State Auditor also issues separate reports on internal control and
compliance with laws and regulations that meet the requirements of the Single Audit Act of 1984 and related OMB Circular
A-128. The audit of 1993 has been completed and the City has been issued an unqualified opinion. The "Independent
,r Auditor's Report"is included in the "Financial Section"of this document.
Certificate of Achievement
ow
Certificate of
r Achievement The Government Finance Officers' Association of the United States and Canada
for Excellence (GFOA) awarded the Certificate of Achievement for Excellence in Financial
in Financial
Reporting Reporting to the City of Renton for its Comprehensive Annual Financial Report
P—tad to for the year ended December 31, 1992. The Certificate of Achievement is a
City of Renton, prestigious national award recognizing conformance with the highest standards
Washington A-1Fnr Ila for preparation of state and local government financial reports.
Coi++prehena4¢e
F Report
for tho Pixel-1 Yoar Lndad
� Uecc+mber 31, 1 n92 .
w.....w^wm eirw�n�.s�oed.e cd�mi..m
In order to be awarded a Certificate of Achievement, a government unit must
publish an easily readable and efficiently organized Comprehensive Annual
■. � �� Financial Report, whose contents conform to program standards. Such
Comprehensive Annual Financial Reports must satisfy both Generally Accepted
Accounting Principles and applicable legal requirements.
r
Acknowledgments Preparation of this report could not have been accomplished without the professional, efficient, and
dedicated services of the entire staff of the Finance and Information Services Department and the various department heads
and employees who assisted and contributed to its preparation. Further appreciation is extended to the Mayor and City
Council for their encouragement, interest, and support in conducting the financial operations of the City in a sound and
M progressive manner. The efficient assistance of examiners from the office of the State Auditor is also appreciated. Staff who
had a direct role in preparing Renton's 1993 Comprehensive Annual Financial Report take great pride in their work, and the
entire team who worked on this project are recognized on the last page of the report.
I will be happy to respond to any questions or comments about the information contained in this report. Again,sincere thanks
for the support shown to the Finance and Information Services Department.
Sincerely,
CITY OF RENTON
/Cy1mr �
Victoria A.Runkle
Finance and Information Services Administrator
cc: Washington State Auditor
rr
1W xii
1
1
1
1
U � �
E:
�NT� 1
ow City of Renton 1993 CA FR
to
r
1993 Annual Financial Report
Financial Section
--
-
City of Renton 1993 CAFR
■w
Legislative Building Washington State Auditor (206) 753-5=
PO Box 4W21 Brian Sonntag SCAr17�V7 -`
Olympia,Wash850
Washington 94-0021 FAX(206)753-0646 SCAN 234-0646
INDEPENDENT AUDITOR'S REPORT
wr
June 1, 1994
The Honorable Mayor and City Council
City of Renton ...
Renton,Washington
We have audited the general-purpose financial statements of the City of Renton,King County,Washington,as of and for the
fiscal year ended December 31, 1993,as fisted in the table of contents. These financial statements are die responsibility of
the city's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and ■r
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining,on a test basis,evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by management,as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
Our audit was performed pursuant to the Revised Code of Washington 43.09.260,under which a full report on the results of
this audit will be issued. This report may include findings and recommendations on compliance matters, internal control
procedures,and questionable costs or contingencies that would not be material in relation to the general-purpose financial
statements taken as a whole.
In our opinion,the financial statements referred to above present fairly,in all material respects,the financial position of the
City of Renton,King County,Washington,at December 31, 1993,and the results of its operations and the cash flows of its
proprietary fund types and similar trust funds for the fiscal year then ended in conformity with generally accepted accounting M"
principles.
Our audit was made for the purpose of forming an opinion on the general-purpose financial statements taken as a whole. The
combining,individual fund,and account group financial statements and schedules listed in the table of contents are presented .r
for purposes of additional analysis, and are not a required part of the general-purpose financial statements of the City of
Renton,King County,Washington. The information has been subjected to the procedures applied in the audit of the general-
purpose financial statements and in our opinion, is fairly stated in all material respects in relation to the general-purpose
financial statements taken as a whole.
The other data included in this report,designated as the statistical section in the table of contents,has not been audited by
us and,accordingly,we express no opinion on such data.
Since y
r' Sonntag "
State Auditor
2
a City of Renton 1993 CAFR
s
s
1993 Annual Financial Report
General Purpose Financial Statements
r
i
r
i
City of Renton 1993 CAFR
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS: DECEMBER 31, 1993 Page 1 of 2
With Comparative Totals for December 31, 1992
GOVERN.MEIt1Al;;FL)ND ?YP1 S.
SPECIAL DEBT CAPITAL
GENERAL REVENUE SERVICE PROJECTS
ASSETS:
Cash and Cash Equivalents .............................. S 2,841,380 $1,269,158 $ 1,786,619 $ 2,065,318
Cash With Fiscal Agent ................................. 0 0 247,922 0
Deferred Compensation Plan Assets - Note 4 ............. 0 0 0 0
Investments - Note 3 ................................... 0 6,959,539 2,060,379 6,633,417
Receivables, net of Allowance for Uncollectibles-Note 5: 2,433,645 166,031 5,302,879 207,977
Due From Other Funds - Note 5 .......................... 2,196 276,480 15,766 4,142
Interfund Loans/Advances-Current Note 5 .............. 0 0 0 0
Due From Other Governmental Units Note 5 ............. 20,448 39,793 0 2,294,712
Inventory of Material and Supplies Note 1 ............ 0 0 0 0
Prepaid Items - Note 8 ................................. 8,000 0 0 0
Investment in Joint Venture - Note 9 ................... 0 0 0 0
Restricted Assets:
Deposits ............................................. 0 0 0 0
Revenue Bond Debt Service ............................ 0 0 0 0
Construction Account ................................. 0 0 0 0
Interfund Loans/Advances - Non-Current - Note 5 ........ 54,000 0 0 0
Fixed Assets (Net) - Note 1 & 7 ........................ 0 0 0 0
Construction In Progress - Note 7 ...................... 0 0 0 0
Deferred Charges and Other Assets - Note 13 ............ 0 0 0 0
Available in Debt Service & Capital Project Funds ... 0 0 0 0
Amount To Be Provided Long Term Debt Retirement ... 0 0 0 0
TOTAL::ASSETS $;'5,359;669 811t,001 . . t ;9,413,565 $11,205,566
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ........................... $ 423,463 $ 254,006 $ 1,620 $ 71,736
Retainage Payable .................................... 0 0 0 0
Due To Other Funds - Note 5 .......................... 162,909 2,446 0 276,656
Interfund Loans/Advances-Current Note 5 ............ 0 0 0 0
Due To Other Governmental Units - Note 5 ............. 787,108 0 0 0
Payables - Note 5 .................................... 1,112 2,995 247,922 0
Deferred Revenues .................................... 1,541,784 0 5,083,080 1,659,638
Liabilities Payable from Restricted Assets:
Deposits Payable ................................... 0 0 0 0 ,
General Obligation Bonds Payable-Current-Note 12 ... 0 0 0 0
Revenue Bonds Payable - Current Portion-Note 12 .... 0 0 0 0
Other Short Term Liabilities - Note 12 ............... 0 0 0 0
Deposits Payable ..................................... 54,255 20,200 0 0
General Obligation Bonds Payable-Current-Note 12 ..... 0 0 0 0
General Obligation Bonds Payable - Note 12 ........... 0 0 0 0
Unamortized Discounts on G.O. Bond ................... 0 0 0 0
Special Assessment Bonds Payable - Note 12 ........... 0 0 0 0
Revenue Bonds Payable - Note 12 ...................... 0 0 0 0
Unamortized Discounts on Revenue Bond ................ 0 0 0 0
Accrued Employee Leave Benefits - Note 1 & 12 ........ 148,168 71,683 0 108
Deferred Compensation Payable - Note 4 ............... 0 0 0 0 '
Interfund Loans/Advances - Non-Current - Note 5....... 0 50,000 0 0
Claims Incurred But Not Reported - Note 17 ........... 0 0 0 0
Installment Purchase Contracts - Note 12 ............. 0 0 0 0
Public Works Trust Fund Loan Payable 0 0 0 0
Arbitrage Rebate Tax Payable - Note 12 0 0 0 0
TOTAL LIABILITIES ........................................ $ 3,118,799 $ 401,330 $ 5,332,622 $ 2,008,138
FUND EQUITY AND OTHER CREDITS:
Fund Balance:
Reserved - Note 1 & 14 ............................. $ 54,000 $ 0 $ 4,080,943 $ 400,089
Unreserved Designated ............................ 414,969 4,269 0 0
Unreserved Undesignated .......................... 1,771,901 8,305,402 0 8,797,339
Contributed Capital .................................. 0 0 0 0
Retained Earnings:
Reserved - Note 1 & 14 ............................. 0 0 0 0
Unreserved ......................................... 0 0 0 0
Investments in Joint Venture and General Fixed Assets. 0 0 0 0
TOTAL FUND EQUITY AND OTHER CREDITS $ 2,240,870 $8,309,671 $ 4,080,943 $.'9,197,428 '
TOTAL LIABILITIES, EQUITY AND OTHER CREDITS .............. $,'5,359,669 $8,711,001 $ 9,413,565 �1>1,2Q5566 '
THE ACCOMPANYING NOTES ARE
r
4
City of Renton 1993 CAFR
Page 2 of 2
` �fDUfrARY: ACC04lN1 fROUP� COMPARAI'IVB 7(iT'1►LS. ;'>
FItOPR1Et`RRY l;UND..'fYPr:9::.. :
INTERNAL TRUST GENERAL GENERAL LONG (MEMORANDUM ONLY)
ENTERPRISE SERVICE AND AGENCY FIXED ASSETS TERM DEBT 1993 1992
$ 1,018,954 $ 738,322 $ 798,732 $ 0 $ 0 $ 10,518,483 $ 10,366,236
" 1,969 0 0 0 0 249,891 68,249
0 0 4,459,948 0 0 4,459,948 3,439,581
1,281,844 1,150,231 1,990,168 0 0 20,075,578 20,016,323
3,171,608 49,371 88,307 0 0 11,419,818 9,034,458
140,534 0 3,550 0 0 442,668 222,195
0 9,991 95,000 0 0 104,991 9,209
758,343 71,899 0 0 0 3,185,195 1,563,028
268,426 38,704 0 0 0 307,130 295,532
3,938 3,000 0 0 0 14,938 6,938
0 0 0 846,596 0 846,596 646,906
29,170 0 0 0 0 29,170 20,480
4,046,703 0 0 0 0 4,046,703 3,905,118
9,237,889 0 0 0 0 9,237,889 8,017,714
0 29,899 0 0 0 83,899 93,890
89,610,513 1,620,313 0 53,179,610 0 144,410,436 138,216,463
12,502,298 0 0 4,379,411 0 16,881,709 7,022,588
160,000 0 0 0 0 160,000 176,000
0 0 0 0 4,481,031 4,481,031 4,283,477
0 0 0 0 22,289,274 22,289,274 24,671,934
4.4..2.2,232 :189' x_:3,7 11,:734 >r, 7 43.5 705::.: : 58,40:5,617;: S 26,:770,305 :::$253,,245,347::;. $232,076j14:r
$ 784,556 S 85,796 S 6,536 $ 0 $ 0 $ 1,627,713 $ 2,132,285
65,955 0 0 0 0 65,955 111,741
w 657 0 0 0 0 442,668 222,195
104,991 0 0 0 0 104,991 9,209
56,181 0 0 0 0 843,289 746,821
442,105 13,463 0 0 0 707,597 455,439
118,033 0 0 0 0 8,402,535 6,763,515
29,170 0 0 0 0 29,170 20,480
374,840 0 0 0 0 374,840 256,025
1,390,000 0 0 0 0 1,390,000 1,120,000
0 61,597 0 0 0 61,597 18,630
0 0 299,655 0 0 374,110 402,324
0 74,005 0 0 0 74,005 106,155
3,390,820 744,560 0 0 17,225,775 21,361,155 21,342,820
(70,841) (10,393) 0 0 0 (81,234) (105,904)
0 0 0 0 5,467,063 5,467,063 7,584,000
26,360,000 0 0 0 0 26,360,000 21,425,000
(626,674) 0 0 0 0 (626,674) (471,992)
325,682 47,760 0 0 3,228,775 3,822,176 3,586,072
0 0 4,459,948 0 0 4,459,948 31439,581
29,899 0 4,000 0 0 83,899 93,890
r 0 1,259,126 0 0 0 1,259,126 723,609
0 0 0 0 448,603 448,603 613,712
1,385,565 0 0 0 0 1,385,565 963,821
8,024 2,911 0 0 400,089 411,024 341,183
$ ';34,168;963 1 2,278,825 '$ 4,770,139 $ 777777T26,7,75305 ';! 7$;849,121 $ :71 ".0-64.1.
$ 0 $ 0 $ 7,076,000 $ 0 $ 0 $ 11,611,032 $ 11,335,477
0 0 0 0 0 419,238 298,979
0 0 (4,410,434) 0 0 14,464,208 10,973,990
72,487,995 1,038,192 0 0 0 73,526,187 68,516,381
2,201,018 0 0 0 0 2,201,018 2,504,768
13,374,213 394,713 0 0 0 13,768,926 13,157,367
0 0 0 58,405,617 0 58,405,617 53,388,746
S 88 fl63 226 S� 1 432 905 S.2 665,566 $58,405,617 $ 0 $174,396;226 $'160,175;708
;1:22, 3189 ?' 3,711:;730 ,435,705 $58,405,617 $26,770,305 $253,245,347 $232,076,319
AN INTEGRAL PART OF THIS STATEMENT
5
City of Renton 1993 CAFR w
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES Page 1 of 1 i
FOR ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
GOVERNMENTAL:FUND TYPES COMPARATi1lE TOTAt.s "�
SPECIAL DEBT CAPITAL (MEMORANDUM ONLY)
GENERAL REVENUE SERVICE PROJECTS 1993 1992
■r
REVENUES
Taxes .............................$18,400,707 $10,211,818 $ 2,591,640 $ 364,489 $ 31,568,654 $33,417,415
Licenses And Permits ............... 1,099,509 46,458 0 1,753,614 2,899,581 3,336,558
Intergovernmental Revenues ......... 3,064,613 1,233,319 0 4,377,356 8,675,288 4,370,793
Charges For Services ............... 757,609 679,460 0 1,344 1,438,413 1,611,322
Fines And Forfeits ................. 864,229 16,787 0 0 881,016 884,692
Special Assessments ................ 0 0 888,498 0 888,498 1,739,087
Interest ........................... 307,172 335,032 196,422 232,977 1,071,603 1,642,112
Miscellaneous Revenues 139,714 382,998 0 18,720 541,432 2,441,466
TOTAL REVENUES .. $:Z4 633;553 5:12,905:872: 5 3,676,560 $...'.6`748,500 $ 47;964,485. $ 9+443,445;
..: a...
EXPENDITURES
Current:
General Government ..............$ 3,962,433 $ 1,295,576 $ 0 $ 0 $ 5,258,009 $ 5,645,004
Security Of Persons And Property . 15,654,019 0 0 0 15,654,019 13,551,649
Physical Environment ............. 1,163,369 0 0 0 1,163,369 1,157,112
Transportation ................... 0 2,937,977 0 1,837,429 4,775,406 5,879,085
Economic Environment ............. 2,528,440 626,724 0 0 3,155,164 3,041,773
Mental And Physical Health ....... 8,983 0 0 0 8,983 10,992
Culture and Recreation ........... 0 4,603,052 0 25,000 4,628,052 4,291,090
Capital Outlay ..................... 360,148 189,264 0 3,923,192 4,472,604 11,331,025
Debt Service:
Principal Retirement ............. 43,802 0 1,847,160 0 1,890,962 2,150,143
Interest & Fiscal Charges ........ 23,633 0 1,6399643 133,994 19797,270 14997,983
TOTAL.:EXPENDITURES ............. 23;744;827. Jr.9'65Z,593:. :5...3;486,803 5 5;;419,61'5 : 5:::7«2x803,838.:: $49:;055,856:;;
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ...................$ 888,726 $ 3,253,279 5 189,757 $ 828,885 $ 5,160,647 $ 387,589
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ........$ 0 $ 0 $ 11,016,750 $ 1,654,063 $ 12,670,813 $ 1,051,744
Interfund Loan Proceeds ............ 0 0 0 700,000 700,000 0
Interfund Loan Repayments .......... 0 (400,000) 0 0 (400,000) 0
Operating Transfers In ............. 11,000 0 0 985,030 996,030 1,524,860
Operating Transfers (Out) .......... (375,575) (692,688) (303,342) 0 (1,371,605) (2,076,739)
Other Financing (Uses) ............. (300,000) 0 0 0 (300,000) 0
Sale Of General Fixed Assets .... 12,000 0 0 101,000 113,000 (589)
Funds Remitted to Bond Trustee ..... 0 0 (10,799,410) (3,200,000) (13,999,410) 0
TOTAL OTHERFINANCING'SOURCES''(USES) '$ (652,575) '>$'0,09Z?688) $ (86,002)''' $ 240,093''; $ (1,591,172) $ 499,276:
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES$ 236,151 $ 2,160,591 $ 103,755 $ 1,068,978 $ 3,569,475 $ 886,865
FUND BALANCE JANUARY 1 ............... 1,978,071 6,093,841 3,952,482 8,153,156 20,177,550 19,290,685
Residual Equity Transfers In ....... 0 0 156,068 0 156,068 746,675
Residual Equity Transfers Out ...... 0 (4,761) (131,362) (24,706) (160,829) (746,675)
Prior Period Corrections ........... 26,648 60,000 0 0 86,648 0
FUND BALANCE'DECEMBER 31 ............'$ 2,244-,87Q 9,197,428'' $ 23,828,912' $
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
6
City of Renton 1993 CAFR
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 1 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
.....:.:.::
>::::>::: ENERAL:::>fUN :::s>::>:':
VARIANCE
FAVORABLE
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes .............................................. $ 18,031,281 $ 18,400,707 $ 369,426
Licenses And Permits ............................... 1,005,000 1,099,509 94,509
Intergovernmental Revenues ............... ,919,253 3,064,613 145,360
Charges For Services 839,840 757,609 (82,231)
Fines And Forfeits ................................. 751,600 864,229 112,629
Special Assessments ................................ 0 0 0
Interest ........................................... 300,000 307,172 7,172
Miscellaneous Revenues ............................. 83,057 139,714 56,657
7:OTAL REVENUES ;:............' ......_' .....:<...... S 23;930 031 .:. t 24,633,553 S 70 •5.22'>
EXPENDITURES
Current:
General Government $ 4,069,631 $ 3,962,433 $ 107,198
Security Of Persons And Property ................. 16,292,934 15,654,019 638,915
Physical Environment ............................. 1,301,462 1,163,369 138,093
Transportation ................................... 0 0 0
Economic Environment ............................. 2,950,518 2,528,440 422,078
Mental And Physical Health ....................... 9,470 8,983 487
Culture and Recreation ........................... 0 0 0
Capital Outlay ..................................... 366,076 360,148 5,928
Debt Service:
Principal Retirement ............................. 43,802 43,802 0
Interest & Fiscal Charges .. 23,633 23,633 0
TOTAL EXPENDITURES .................!...... : .,.;.... 'S 25,057,526 $ 23,744,827 $ 1,312.':
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,127,495) $ 888,726 $ 2,016,221
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0
Interfund Loan Proceeds ............................ 0 0 0
Interfund Loan Repayments .......................... 0 0 0
Operating Transfers In ............................. 11,000 11,000 0
Operating Transfers (Out) .......................... (366,394) (375,575) (9,181)
Other Financing Sources ............................ (300,000) (300,000) 0
Sale Of General Fixed Assets ....................... 0 12,000 12,000
Funds Remitted to Bond Trustee ..................... 0 0 0
TOTAL OTHER FINANCING';SOURCES (USES) ................. $ (655,394) $ ($52,57$)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,782,889) $ 236,151 $ 2,019,040
FUND BALANCE JANUARY 1 ............................... 2,105,095 1,978,071 (127,024)
Residual Equity Transfers In ....................... 0 0 0
Residual Equity Transfers (Out) 0 0 0
Prior Period Corrections 0 26,648 26,648
fUNO BALANCE D.ECEMBER;31 $ 322,
..:. 206
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
7
City of Renton 1993 CAFR
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 2 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
SPECIAL REVENUE FUND TYPES
VARIANCE
FAVORABLE
BUDGET ACTUAL <UNFAVORABLE>
REVENUES
Taxes .............................................. S 8,457,850 S 10,211,818 S 1,753,968
Licenses And Permits ............................... 14,000 46,458 32,458
Intergovernmental Revenues ......................... 1,632,459 1,233,319 (399,140)
Charges For Services ............................... 590,666 679,460 88,794
Fines And Forfeits ................................. 14,200 16,787 2,587
Special Assessments ................................ 0 0 0
Interest ........................................... 134,850 335,032 200,182
Miscellaneous Revenues 395,788 382,998 (12,790)
TOTAL REVENUES ....................................... S 11,239,813 $ 12,905,872 $ 1,666,059
EXPENDITURES
Current:
General Government ............................... $ 1,470,508 S 1,295,576 S 174,932
Security Of Persons And Property ................. 0 0 0
Physical Environment ............................. 0 0 0
Transportation ................................... 6,058,136 2,937,977 3,120,159
Economic Environment ............................. 633,052 626,724 6,328
Mental And Physical Health ....................... 0 0 0
Culture and Recreation ........................... 4,930,549 4,603,052 327,497
Capital Outlay ..................................... 2,291,885 189,264 2,102,621
Debt Service:
Principal Retirement ............................. 0 0 0
Interest 8 Fiscal Charges 0 0 0
TOTAL EXPENDITURES .......... ... .. . S 15,384,130 S 9,652,593 $ 5,731,53T,:.
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (4,144,317) S 3,253,279 S 7,397,596
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 S 0 S 0
Interfund Loan Proceeds ............................ 0 0 0
Interfund Loan Repayments .......................... (400,000) (400,000) 0
Operating Transfers In ............................. 0 0 0
Operating Transfers (out) .......................... (450,500) (692,688) (242,188)
Other Financing Sources ............................ 0 0 0
Sale Of General Fixed Assets ....................... 0 0 0
Funds Remitted to Bond Trustee0 0 0
.....................
TOTAL OTHER FINANCING SOURCES (USES) ................. S (850,500) :>S t1 :Q92 688) $ (242,188):
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (4,994,817) S 2,160,591 S 7,155,408
FUND BALANCE JANUARY 1 ............................... 5,971,951 6,093,841 121,890
Residual Equity Transfers In ....................... 0 0 0
Residual Equity Transfers (Out) .................... 0 (4,761) (4,761)
0 60,000 60,000
FUND'BALANCE DECEMBER 31 .......................... 97T'134 $ 8,309,671 $ 7,332,537
THE ACCOMPANYING NOTES ARE AN
8
City of Renton 1993 CAFR
Page 3 of 4
AEB1 SERYIC fkIND.TXPES CAPI.T1tI.PRO:}EGTS:.FUNR:.:IXP1:S.
VARIANCE VARIANCE
FAVORABLE FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE>
$ 2,640,598 $ 2,591,640 $ (48,958) $ 709,000 $ 364,489 $ (344,511)
0 0 0 1,751,000 1,753,614 2,614
0 0 0 8,106,559 4,377,356 (3,729,203)
0 0 0 1,000 1,344 344
0 0 0 0 0 0
1,087,440 888,498 (198,942) 0 0 0
116,500 196,422 79,922 10,000 232,977 222,977
0 0 0 21,893 18,720 (3,173)
$ 3,844,538.: S: 3,676;560 $ (167,978) :$ 10,599{452 : $ '6,748,500 S (3,850,952x.
rrr
$ 0 S 0 $ 0 $ 0 S 0 $ 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 8,755,333 1,837,429 6,917,904
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 25,000 25,000 0
0 0 0 9,425,225 3,923,192 5,502,033
1,881,017 1,847,160 33,857 0 0 0
1,873,711 1,639,643 234,068 412,073 133,994 278,079
$ 3,754,728 S 3,486,803 $ 2670925 $ 18,61,7,631 $ 51919,615` $ 112,698,016'
$ 89,810 $ 189,757 $ 99,947 $ (8,018,179) S 828,885 $ 8,847,064
$ 12,550,000 $ 11,016,750 $ (1,533,250) $ 3,954,063 $ 1,654,063 $ (2,300,000)
0 0 0 0 700,000 700,000
0 0 0 0 0 0
0 0 0 742,842 985,030 242,188
(303,342) (303,342) 0 0 0 0
0 0 0 0 0 0
0 0 0 0 101,000 101,000
(10,791,781) (10,799,410) (7,629) (5,500,000) (3,200,000) 2,300,000
$ 1,454,877' S (861-0021 S I'<1,540879).: .< `` (803,095} S 240,093i' $ 1,U43;488:`
S 1,544,687 S 103,755 $ (1,440,932) $ (8,821,274) $ 1,068,978 $ 9,890,252
3,786,895 3,952,482 165,587 9,402,074 8,153,156 (1,248,918)
1r
0 156,068 156,068 0 0 0
0 (131,362) (131,362) 0 (24,706) (24,706)
0 0 0 0 0 0
580,800 . S ...F797;428::
INTEGRAL PART OF THIS STATEMENT
9
City of Renton 1993 CAFR
COMBINED STATEMENT OF REVENUES, EXPENDITURES Page 4 of 4
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
COMP:..AWW'rz TOTALS
(MEMORANDUM ONLY)
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 29,838,729 $ 31,568,654 $ 1,729,925 $33,417,415
Licenses And Permits 2,770,000 2,899,581 129,581 3,336,558
Intergovernmental Revenues ......................... 12,658,271 8,675,288 (3,982,983) 4,370,793
Charges For Services ............................... 1,431,506 1,438,413 6,907 1,611,322
Fines And Forfeits ................................. 765,800 881,016 115,216 884,692
Special Assessments ................................ 1,087,440 888,498 (198,942) 1,739,087
Interest ........................................... 561,350 1,071,603 510,253 1,642,112
Miscellaneous Revenues ............................. 500,738 541,432 40,694 2c441,466
TOTAL:REVENUES" $ 49,613::834: S47,964,485 $(1,644,349) 549,1r43 {i4 .
EXPENDITURES
Current:
General Government $ 5,540,139 $ 5,258,009 $ 282,130 $ 5,645,004
Security Of Persons And Property ................ 16,292,934 15,654,019 638,915 13,551,649
Physical Environment ............................. 1,301,462 1,163,369 138,093 1,157,112
Transportation ................................... 14,813,469 4,775,406 10,038,063 5,879,085
Economic Environment ............................. 3,583,570 3,155,164 428,406 3,041,773
Mental And Physical Health ....................... 9,470 8,983 487 10,992
Culture and Recreation ........................... 4,955,549 4,628,052 327,497 4,291,090
Capital Outlay ..................................... 12,083,186 4,472,604 7,610,582 11,331,025
Debt Service:
Principal Retirement ............................. 1,924,819 1,890,962 33,857 2,150,143
Interest & Fiscal Charges ........................ 2,309,417 1,797,270 512,147 1,997,983
TOTAL $ ''62,814: 015..:5': 42,803,838 ''$20,010,177 3 49,055';856':
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $(13,200,181) $ 5,160,647 $18,360,828 $ 387,589
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 16,504,063 $ 12,670,813 $(3,833,250) $ 1,051,744
lnterfund Loan Proceeds ............................ 0 700,000 700,000 0
Interfund Loan Repayments .......................... (400,000) (400,000) 0 0
Operating Transfers In ............................. 753,842 996,030 242,188 1,524,860
Operating Transfers (Out) .......................... (1,120",236) (1,371,605) (251,369) (2,076,739)
Other Financing Sources ............................ (300,000) (300,000) 0 0
Sale Of General Fixed Assets ....................... 0 113,000 113,000 (589)
Funds Remitted to Bond Trustee (16,291,781) (13,999,410) 2,292,371 0
TOTAL OTHER FINANCING:;SOURCES:>(USES) .,....;......,
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $(14,054,293) $ 3,569,475 $17,623,768 $ 886,865
FUND BALANCE JANUARY 1 ............................... 21,266,015 20,177,550 (1,088,465) 19,290,685
Residual Equity Transfers In ....................... 0 156,068 156,068 746,675
Residual Equity Transfers (Out) .... 0 (160,829) (160,829) (746,675)
Prior Period Corrections ... .... 0 86,648 86,648 0
FUND BALANCE DECEMBER 31 .... $ ' 7,211,722 $'23,828,912 $16,617;190 $`20,177,550
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
10
City of Renton 1993 CAFR
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY Page 1 of 1
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
PROPR1ETAR1f:FUND'"TYPES FIDUCIARY COMPARATIVE TOTALS
_..._ ... ........... _
INTERNAL FUND TYPE (MEMORANDUM ONLY)
ENTERPRISE SERVICE PENSION TRUST 1993 1992
OPERATING REVENUES:
Charges for Services ........................... $22,241,881 $ 5,201,587 $ 0 $27,443,468 $25,653,633
Fire Insurance Premiums ........................ 0 0 51,032 51,032 44,536
Property Taxes ................................. 0 0 246,000 246,000 228,000
Interest Revenue ............................... 0 0 228,286 228,286 149,719
Other Operating Revenue ........................ 257,637 258,597 0 516,234 542,491
TOTAb'OPERATING:'REVENUE ......'......:'.......'...... ;322,494,$1$ ; 5,460,184 $ 525,318 ;328r ...j 2C``'`' ` +i i37�i.
OPERATING EXPENSES:
Operations and Maintenance ..................... $14,395,639 $ 686,313 $ 0 $15,081,952 $14,276,430
Benefit Payments ............................... 0 4,217,601 283,383 4,500,984 4,043,664
Professional Services .......................... 0 220,702 0 220,702 201,918
Administrative and General ..................... 1,344,875 266,811 7,265 1,618,951 1,495,872
Insurance ...................................... 11,378 421,181 0 432,559 423,923
Taxes .......................................... 2,021,168 0 0 2,021,168 1,879,379
Depreciation .... .. ............. 2,198,331 365,026 0 2,563,357 2,404,872
Yt1TA4 OPERAYIN6<.EXPENSES S 19 971 391 .5 177:634 $ 290 648 $2b 439 673:::::>: 3:24 724 1158
OQ:ERATINI# INGRM.E (LOSS)
•..:5:.2,528,127 S . (717,4501 $ . 23: ,67D 1r 2,14S34T' ::: ::: 1:r ��1:::::
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 646,908 $ 54,791 $ 0 $ 701,699 $ 811,689
Gain (Loss) on Sale of Assets .................. 0 (23,949) 0 (23,949) 12,118
Other Non-operating Revenue .................... 245,659 77,198 0 322,857 127,156
Interest Expense ............................... (1,468,125) (45,900) 0 (1,514,025) (1,628,930)
Arbitrage Expense .............................. (559) (188) 0 (747) (696)
Amortization of Debt Discount and Exemse ...... (70,654) (1,476) 0 (729130) (57,099)
NON-OPERATING REVENUE:,:.'NET OF'EXPENSES' ......'...... ':$ (646,771) $ 60,476 $ .. 0 $ (586,295;: $$ .(735,762)
INCOME'(LOSS)'BEFORE OPERATING' TRANSFERS ......... $ 1,881,356 $ (656,974) 35 23:4,670' $ 1;454;052 $ 1,156,559:
OPERATING TRANSFERS IN .......................... 375,575 0 0 375,575 672,125
OPERATING TRANSFERS OUT .......................... 0 0 0 0 (110 000)
VET 'INCOME' (LOSS) BEFORE EXTRAORDINARY ITEM $ 2,256,931 $ (656, 74) : ::::::.:.::;; 0 "$ 1,83, , $. 1., i
EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 1,433,707 22,782 0 14456,489 384 077.
NET INCOME (LOSS),.:.:.,..: .; ..... .,: 3 823,224 ,;;S. (679.756# .:..234 670
Depreciation Reducing Grant Contributed Capital. 159,580 0 0 159,580 121,331
INCREASE'>s(DECREASE)''IN'RETAIN.E) EARNINGS 982,.804 CT4,7561 $ 234,670 S 537,718 `' $ 1r4r938:
.... . .,
RETAINED EARNINGS, JANUARY 1 ..................... $14,592,427 $ 1,069,708 $2,430,896 $18,093,031 $16,637,093
RETAINED.EAR1.NI.N.GS, JANUARY .,;;RESTATED' ...... $14 59...2,.427 ::Tr 1,069,708 ':.5 2,430;,896 318,09.3,031 5 1b,637,093
Residual Equity Transfers In (out) 0 4,761 0 4 761 0
..... >$45575:*.231 39«,713 $2,665x566 M3.10:: 8::093'031
RETAINED;`EARNI:N.GS, DECEMBER 31<I..............
CONTRIBUTED CAPITAL, JANUARY 1 ................... $67,478,189 $ 1,038,192 $ 0 $68,516,381 $65,250,795
i Capital Grants ............................... $ 966,423 $ 0 $ 0 $ 966,423 $ 1,852,848
Amortization on Capital Grants ............... (159,580) 0 0 (159,580) (121,331)
Other Contributed Capital .................... 4,202,963 0 0 4,202,963 1,534069
CONTRIBUTED.CAPLTAL, DECEMBER 31 S 72,487,995 S 1,038,192 $ 0 $73,526;187 $68,5!5`381 '
FUND EQUITY, DECEMBER 31 ......................... $88,063,226 ;'$ 1,432,905 $2,665,566 .::$92,1.61,697 $86;609'412
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
,w 11
City of Renton 1993 CAFR ,
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 Page 1 of 4
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1992
PROPRIETARY P#�IE1:7YPES:>
INTERNAL
ENTERPRISE SERVICE
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers ................................. $ 21,634,783 $ 0
Cash Received From Other Funds for Goods and Services ........ 410,421 5,201,587
Cash Received From Taxes on Fire Insurance Premiums .......... 0 0
Cash Received From Property Taxes ............................ 0 0
Cash Payments to Suppliers for Goods and Services ............ (11 001,478) (4,599,037)
Cash Paid to Other Funds for Goods and Services .............. (2,935,253) (380,988)
Cash Paid to Employees ....................................... (2,561,006) (216,625)
Cash Paid for Taxes .......................................... (1,244,710) 0
Cash Paid for Retirees ....................................... 0 0
Interest Revenue 0 0
Other Operating Receipts ..................................... 258,101 258,597
Other Non-Operating Receipts ................................. 31,878 95,297
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES ............... $ 4,592,736.: $ 358;$31 '
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Proceeds From Interfund Loans ................................ $ 95,000 $ 0
Operating Grants Received .................................... 139,291 0
Operating Transfers From Other Funds ......................... 366,394 0
Operating Transfers To Other Funds ........................... 0 0
Repayments on Interfund Loans ... ................... (13,382) 13,382
NET CASH PROVIDED''(USED) BY NQNEApITAL ;FINANCING ACTIVITIES ....
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. $ 7,689,789 $ 0
Payments on Bond Issuance and Registration Fees .............. (54,412) (1,720)
Proceeds From State Long-Term Loans .......................... 477,925 0
Proceeds From Sale of Equipment .............................. 0 15,909
Acquisition and Construction of Capital Assets ............... (11,097,740) (476,931)
Payments Received from Intergovernmental Loan ................ 37,875 0
Capital Contributions ........................................ 1,668,594 0
Capital Grants ............................................... 1,337,881 0
Principal Payments on Bonds .................................. (1,640,260) (67,020)
Interest Payments on Bonds ................................... (1,481,676) (48,377)
Interest Payments on State Long-Term Loans ................... (2,168,152) 0
Residual Equity Transfer Out ........ 0 4,761
NET CASH PROVIDED (USED) BY'CAPITAL FINANCING ACTIVITIES ....... $ (5,230,176)I'
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments ............................ $ 22,148,805 $ 2,010,934
Payments for Investments ..................................... (20,760,215) (1,730,793)
Interest on Investments ...................................... 511,589 57,083
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES ---f-1,900,179 $ 337,224'''
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS $ 1,850,042 $ 136,059
CASH AND CASH EQUIVALENTS, JANUARY 1 12,482,674 602,263
CASN';,'AND CASH EQUIVALENTS, DECEMBER 31 ......................... $ 14,332,716 $ 738,322'>s
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents .................................... $ 1,018,954 $ 738,322
Cash Restricted for:
Deposits ................................................... 29,170
0
Revenue Bond Debt Service .................................. 4,046,703 0
Construction Account 9,237,889 0
TOTAL CASH AT THE; END OF THE YEAR $ 14,332,716 $ 738,322 d'
12
City of Renton 1993 CAFR
Page 2 of 4
FIDUCIARY ' COMPARATIVE>TOTAI,S:>
__. ......... _ _ ._ ... .... _
FUND:.:'TYPE (MEMORANDUM ONLY)
..............................
PENSION TRUST 1993 1992
$ 0 S 21,634,783 $ 20,644,861
0 5,612,008 4,781,438
51,032 51,032 44,536
246,000 246,000 228,000
(4,640) (15,605,155) (14,733,476)
(2,669) (3,318,910) (2,911,755)
0 (2,777,631) (2,641,505)
0 (1,244,710) (1,179,827)
(283,383) (283,383) (314,066)
240,928 240,928 156,433
0 516,698 539,629
0 127,175 140,172
$ 247,268::. 5,198;:835 $: 4;:754;440
$ (95,000) S 0 $ 0
0 139,291 53,678
0 366,394 664,715
0 0 (110,000)
0 0 0
$ €95o0a> 505.6$5 .. s; bO8,393i
$ 0 $ 7,689,789 $ 4,239,384
0 (56,132) (1,588)
0 477,925 973,241
0 15,909 15,336
awlr 0 (11,574,671) (5,277,394)
0 37,875 0
0 1,668,594 981,831
0 1,337,881 1,281,828
0 (1,707,280) (1,275,035)
0 (1,530,053) (1,715,591)
0 (2,168,152) (1,744)
0 4,761 0
S 0'' $ ,(5,803,554) $'' (779,732)
$ 306,342 $ 24,466,081 $ 28,742,916
(262,994) (22,754,002) (29,878,007)
0 568,672 766,658
$ 43,348 S;, 2,280,751 $ (368,433)
$ 195,616 $ 2,181,717 S'' 4,214,668
295,818 13,380,755 9,166,087
$ 491,434 S 15,562,472 $ 13,380,755
$ 491,434 $ 2,248,710 $ 1,437,443
0 29,170 20,480
0 4,046,703 3,905,118
0 9,237,889 8,017,714
$ 491,434 $ 15,562,472 $ '' 13,380,755
13
City of Renton 1993 CAFR
COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1993 Page 3 of 4
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
With Comparative Totals for Year Ended December 31, 1992
PROPRIETARY FUND' TYPES'
INTERNAL
ENTERPRISE SERVICE
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... S 2,528,127 $ (717,450)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... $ 2,214,331 $ 365,026
Other Non-Operating Revenue ................................ 76,317 73,025
(Increase) Decrease in Accounts Receivable ................. (315,395) (12,602)
(increase) Decrease in Interest on Investments ............. 0 0
(Increase) Decrease in Due From Other Funds/Governmental ... 3,322 22,272
(Increase) Decrease in Inventory/Prepaid Items ............. (25,722) 14,124
Increase (Decrease) in Vouchers/Contracts/Retainage Payable. 50,288 34,163
Increase (Decrease) in Due to Other Funds/Governmental ..... (1,405) (3,224)
Increase (Decrease) in Payables/Other Short Term Liabilities 9,378 44,963
Increase (Decrease) in Customer Deposits ................... 8,690 0
Increase (Decrease) in Deferred Revenues ................... 1,282 0
Increase (Decrease) in Accrued Employee Leave Benefits ..... 39,066 3,017
Increase (Decrease) in Claims Incurred But Not Reported .... 0 535,517
Capital Cost Reported as Operating Expense 4,457 0
Total Adjustments ...................................... S 2,064,609 $ 1,076,281
NET CASH PROVIDED::(USED)<BY OPERAT-ING. CTIVIT.XES ... ........... S 4,592,736 S358,83 °<
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers ....................... $ 2,194,457 $ 0
Fixed Asset Contributed By Other Funds ....................... 6,124 4,556
AssetTrade-In ............................................... 0 25,500
Advance Refunding of Revenue Bonds .. ... ..... 9,092,924 207,169
TOTAL NONCASIi..CAP:ITAL 'AND RELATED FINANCING.ACTiVLTfES. 237;225,
THE ACCOMPANYING NOTES ARE AN
14
City of Renton 1993 CAFR
Rw
Page 4 of 4
FIDUCIARY COMPIIRA>IVB::TOTALS
FUND. TYPE (MEMORANDUM ONLY)
on PENSION TRUST 1993 1992
$ 234,670 $ 2,045,347 $ 1,892,321
$ 0 $ 2,579,357 $ 2,420,872
0 149,342 87,092
0 (327,997) (297,832)
13,299 13,299 6,714
(657) 24,937 168,522
0 (11,598) 3,623
(44) 84,407 29,554
0 (4,629) (4,038)
0 54,341 3,492
0 8,690 (1,208)
0 1,282 50,128
0 42,083 108,511
0 535,517 288,048
0 4,457 (1,359)
aw $ 12,598 $ 3,153,488 $ 2,862,119
247,268 I' $ 5,198,835 $> 4,754, ►0:..
f 0 $ 2,194,457 $ 533,417
0 10,680 29,049
0 25,500 17,691
0 9,300,093 4,543,300
$ 0 $ 11,530,730 $> 5,123,457'
INTEGRAL PART OF THIS STATEMENT
15
1
i
1
1
1
i
Crry of Renton 1993 CAFR
NOTES TO THE FINANCIAL STATEMENTS
�► Financial statements need to be supplemented with additional
information to fairly present the government's financial position and
results of operations in conformity with Generally Accepted Accounting
Principles. Additional information is often to detailed or unsuitable for
presentation on the face of the financial statements. Therefore, the
notes provide this information and become an integral part of the
financial statements.
r
err
r
r
v
v
r
r
v
OW
so
r
17
i
NOTES TO THE FINANCIAL STATEMENTS
INDEX
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES...................................................................................................................19
Table1: Property Tax Levy......................................................................................................................................21
Table 2: Fixed Asset Service Life...............................................................................................................................21
Table 3: Employee Leave Payable..............................................................................................................................21
NOTE 2-STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY..........................................................................................21
NOTE 3- CASH&INVESTMENTS .......................................................................................................................................22
Table 4: Reconciliation of Cash and Investments by Fund Group.........................................................................................22
Table 5: Classification of Investments As of December 31, 1993.........................................................................................22
NOTE 4-DEFERRED COMPENSATION..........................................................................................................................I......22
NOTE 5-RECEIVABLES AND PAYABLES.............................................................................................................................22
Table6: Receivables and Payables..............................................................................................................................23
Table7: Interfund Receivables and Payables..................................................................................................................23
Table 8: Interfund Loans/Advances Receivable and Payable..............................................................................................23
Table 9: Due From Other Governmental Units...............................................................................................................24
NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS...................................................................................................24
Table 10: Residual Equity Transfers............................................................................................................................24
Table11: Operating Transfers...................................................................................................................................24
NOTE7-FIXED ASSETS.....................................................................................................................................................24
Table 12: Changes in General Fixed Assets...................................................................................................................24
Table 13: Construction Work In Progress......................................................................................................................25
Table 14: Proprietary Property,Plant&Equipment.........................................................................................................25
NOTE8-PREPAID ITEMS...................................................................................................................................................25
NOTE9-JOINT VENTURES ................................................................................................................................................25
Table 15: Joint Venture Cost Distribution......................................................................................................................25
Table 16: Financing Contributions&Outstanding Debt.....................................................................................................26
Table17: Balance Sheet...........................................................................................................................................26
Table 18: Statement of Revenues,Expenses and Changes in Retained Earnings.......................................................................26
Table19: Joint Venture Equity...................................................................................................................................26
NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT BENEFITS.......................................................................................26
Table 20: PERS and LEOFF Information By Plan...........................................................................................................27
Table 21: PERS and LEOFF Information By System........................................................................................................27
Table 22: Unfunded Pension Benefit Obligation..............................................................................................................27
Table 23: Fire Pension Ten-Year Funding Progress Data...................................................................................................28
Table 24: Fire Pension Ten-Year Revenues and Expenses.................................................................................................28
NOTE 11-CONSTRUCTION COMMITMENTS.........................................................................................................................28
Table 25: Construction Commitments..........................................................................................................................28
NOTE 12-LONG-TERM DEBT.............................................................................................................................................28
Table 26: Long Term Debt Additions and Retirements Summary.........................................................................................29
Table 27: Outstanding Debt as of December 31, 1993 ......................................................................................................30
Table28: Pro Rated Debt.........................................................................................................................................31
Table29: Debt Limit Capacities.................................................................................................................................31
Table30: Refunded Bonds........................................................................................................................................32
Table 31: Changes to Refunded Bond Payable ...............................................................................................................32
Table 32: Refunding Debt Service Analysis...................................................................................................................32
Table 33: Debt Service Requirement to Maturity.............................................................................................................33
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS....................................................................................................33
NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY........................................................................................33
Table 34: Reservations of Fund Equity.........................................................................................................................33
Table 35: Unreserved Designated Fund Equity...............................................................................................................33
NOTE 15-SEGMENT INFORMATION FOR ENTERPRISE FUNDS...............................................................................................34
Table 36: Segment Information for Enterprise Funds........................................................................................................34
NOTE16-LITIGATION.......................................................................................................................................................34
NOTE 17-RISK MANAGEMENT...........................................................................................................................................34
Table37: Risk Management......................................................................................................................................34
Table38: Outstanding Claims....................................................................................................................................35
Table 39: Changes in Claims Liabilities........................................................................................................................35
NOTE 18-PRIOR PERIOD ADJUSTMENTS................................................................................................................I............35
NOTE 19-SUBSEQUENT EVENTS........................................................................................................................................35
18
City of Renton Notes to The Financial Statements
CITY OF RENTON NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended December 31, 1993
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES liabilities(whether current or non-current)associated with their activity are
The City of Renton was incorporated on September 6, 1901 and operates included on their balance sheets. Their reported fund equity (net total
under the laws of the State of Washington applicable to a Non-Charter assets) is segregated into contributed capital and retained earnings
code city with a Mayor/Council form of govemment. Renton is served by components. Proprietary Fund operating statements present increases
a full-time Mayor and seven part-time Council members, all elected at (revenues and gains) and decreases (expenses and losses) in net total
large to four-year terms. The City provides the full range of municipal assets. The Proprietary Fund measurement focus is upon determination of
.� services authorized by State law, together with a Municipal Airport, a net income,financial position,and reporting of cash flows.
Waterworks Utility,a Solid Waste Utility,and a Municipal Golf Course.
Enterprise Funds account for operations that are self-supported through
The accounting and reporting policies of the City of Renton, which user charges. The enterprise is financed and operated like a private
conform to generally accepted accounting principles for governments, are business enterprise, which requires periodic determination of revenues
regulated by the Washington State Auditor's Office,Division of Municipal earned,expenses incurred,and net income for capital maintenance,public
Corporations. The City's significant accounting policies are described in policy,management control,and accountability.
the following notes.
Internal Service Funds account for the financing of goods or services
THE REPORTING ENTITY provided by one department or agency to other departments or agencies of
Based on the criteria of Statement No. 14 of the Govemmental Accounting the City or to other govemments.
Standards Board (GASB), the City's Comprehensive Annual Financial
Report(CAFR)includes all funds,account groups,agencies and boards for Fiduciary Fund Types
which the City is financially accountable. Financial accountability is Fiduciary Funds account for assets held by the City in a trustee capacity or
defined as follows: A primary government has substantive authority to as an agent for individuals,private organizations, other governments,and
appoint a voting majority of a component unit's board; the primary other funds. These include Expendable Trust, Nonexpendable Trust,
government has the ability to impose its will on a component unit; the Pension Trust,and Agency Funds. City of Renton Fiduciary Funds do not
component unit can provide a financial benefit to, or impose a financial include any Expendable or Nonexpendable Trust Funds.
burden on the primary government; and the component unit is fiscally
dependent on the primary government. The Renton Housing Authority has Pension Trust Funds are accounted for in essentially the same manner as
been excluded because the City neither reviews its budget nor is obligated Proprietary Funds. Agency Funds are custodial in nature (assets equal
to finance any of its deficits. The Mayor does appoint members to the liabilities)and do not involve measurement of results and operations.
y. Housing Authority Board,but the Board is fiscally independent of the City.
Account Group
BASIS OF PRESENTATION-FUND ACCOUNTING Account Groups are used to establish accounting control over the City's
The accounts of the City are organized on the basis of funds and account general fixed assets and general long-term debt. The City uses two account
groups, each of which is considered a separate accounting entity. Each groups.
fund is accounted for with a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenues and expenditures or The General Fixed Assets Account Group accounts for all fixed assets of
expenses, as appropriate. 'Be City's resources are allocated to and the City other than those accounted for in Proprietary Funds. The General
.� accounted for in individual funds according to the purpose for which they Long-Term Debt Account Group accounts for all long-term debt of the
are spent and how they are controlled. The three broad fund categories, City except that accounted for in the Proprietary Funds.
seven generic fund types, and two account groups presented in this report
are described below. Comparative Data
s Comparative total data for the prior year has been presented in the
Governmental Fund Types accompanying financial statements in order to provide an understanding of
All Governmental Funds are accounted for on a spending or "financial changes in the City's financial position and operations. However,
flow" measurement focus. This means that generally only current assets comparative data has not been presented by fund type in each of the
and current liabilities are included on their balance sheets. Their reported statements since their inclusion would make the statements unduly
fund balance (net current assets) is considered a measure of "available complex and difficult to read.
spendable resources." Governmental Fund operating statements focus on
measuring changes in financial position, rather than net income; they Total Columns on Combined Statements
present increases (revenues and other financing sources) and decreases Total columns on the combined statements are presented only to facilitate
(expenditures and other financing uses)in net current assets. financial analysis. Data in these columns do not present financial position,
results of operations, or the reporting of cash flows in conformity with
The General Fund is the general operating fund of the City. It accounts for generally accepted accounting principles. The data is also not comparable
all financial resources and transactions except those required to be to a consolidation. Interfund eliminations have not been made in the
+� accounted for in another fund. aggregation of the data.
Special Revenue Funds account for the proceeds of specific revenue BASIS OF ACCOUNTING
sources(other than special assessments,and major capital projects)that are Basis of accounting refers to when revenues and expenditures or expenses
r, legally restricted to expenditures for specified purposes. are recognized in the accounts and reported in the financial statements.
Debt Service Funds account for the accumulation of resources for,and the Modified Accrual Basis o(Accounting
payment of,general long-term debt principal,interest,and related costs. The modified accrual basis of accounting is followed in all governmental
funds and agency funds. Under the modified accrual basis of accounting,
Capital Projects Funds account for financial resources to be used for the revenues are recorded when susceptible to accrual, i.e., both measurable
acquisition or construction of major capital facilities other than those and available. Available means collectible within the current period or
financed by Proprietary Funds. soon enough thereafter to pay current liabilities. Specific major revenue
sources subject to accrual are discussed below.
Proprietary Fund Types
Proprietary Funds are accounted for on a cost of services or "capital The portion of property taxes receivable at year-end that are received in
maintenance" measurement focus. This means that all assets and all January for the prior year's levy are recorded as revenue. The remaining
19
City of Renton Notes to The Financial Statements
balance is not normally expected to be collected within 30 days after the Encumbrances
current period and is, therefore, reported as deferred revenue. Grant An encumbrance system is maintained to account for commitments
revenues from cost reimbursement grants are considered earned and resulting from approved purchase orders, contracts, and other
therefore available when the expenditure is incurred, in accordance with commitments. Encumbrances remaining at year-end lapse and are
NCGA Statement 2. Interest on investments is recorded as revenue when cancelled. Upon request by the department and approval of the City
earned. Special assessments and charges for services are recorded as Council, encumbrances may be reappropriated in the following year. At
revenue when billed and due within 30 days. Revenue sources which are year-end,the City had encumbrances of$2,592,997.
not considered to meet the measurable and available criteria for revenue
recognition include licenses and permits, fines and forfeitures, and other ASSETS.LIABILITIES AND FUND EQUITY
miscellaneous revenues since they are generally not measurable until Cash&Cash Equivalents
received. All highly liquid investments(including restricted assets)with a maturity
of three months or less when purchased are considered cash equivalents.
Under the modified accrual basis,expenditures are recorded when the fund Included in this category are all funds invested in the Local Government
liability is incurred,except for principal and interest on general long-term Investment Pool and Municipal Investors Account. Excluded from this
debt, which are recorded when due. Purchases of fixed assets out of category are cash balances held by Fiscal Agents since the City does not
Governmental Funds are treated as expenditures during the year incurred have discretionary use of these funds. Cash held by Fiscal Agents is
and the assets are capitalized in the General Fixed Assets Account Group. included in an investment type account.
Long-term liabilities, including vacation pay not currently due and
payable,are accounted for in the General Long-Term Debt Account Group, Investments
except for long-term liabilities accounted for in the Proprietary Funds. The City of Renton invests all short-term cash surpluses. A Surplus Bank
Balance Fund is maintained to account for these residual investments and
Accrual Basis of Accounting earnings are allocated to the general fund. Investments are also held
The accrual basis of accounting is followed in all Proprietary Funds and separately by several of the funds with interest earned directly for the
the Pension Trust Fund. Revenues are recognized when earned and benefit of each fund. Investments are reported on the financial statements
expenses are recognized when incurred. at cost or amortized cost which approximates market,except for the assets
held in the deferred compensation program which are valued at market.
The revenues of the Waterworks and Solid Waste Utilities,which are based Washington State statutes provide for the City to hold investments
upon service rates authorized by the City Council, are determined by consisting of obligations of the federal government, repurchase
monthly billings to customers. Revenues of the Golf Course are based on agreements, prime banker's acceptances, and time certificates of deposit
user fees, and Airport revenue is based on lease agreements. Earned but issued by Washington State depositories that participate in the Washington
unbilled revenues at year-end are accrued and reported in the financial State Public Depository Protection Commission(WPDPC). The WPDPC
statements. Fixed asset purchases are capitalized,and long-term liabilities is a multiple financial institution collateral pool administered by the
are accounted for in the appropriate funds. Washington Public Deposit Protection Commission. Additional deposit
and investment information is presented in Note 3.
BUDGETS AND BUDGETARY ACCOUNTING
The City of Renton budgets its funds in accordance with the Revised Code Inventories
of Washington (RCW) 35A.33. In compliance with the Code, annual Inventories carried in Proprietary Funds are valued at average cost which
appropriated budgets are adopted for the General, Special Revenue, Debt approximates the market value. The inventory in the Waterworks Utility
Service and Capital Projects Funds. Any unexpended appropriations lapse Fund is charged out at average cost plus a 20%handling fee when issued,
at the end of the fiscal year. For Governmental Funds, there are no and the inventory in the Equipment Rental Fund is issued at average cost.
substantial differences between the budgetary basis and generally accepted A physical count is taken at year-end in both funds. Governmental Funds
accounting principles. Budgetary accounts are integrated in fund ledgers use the purchase method whereby inventory items are considered
for all budgeted funds, but the financial statements include budgetary expenditures when purchased. The amount outstanding at year-end is
comparisons for annually budgeted Governmental Funds only. Budgets immaterial and is,therefore,not included on the balance sheet.
established for Proprietary and Trust Funds are "management budgets,"
and are not legally required to be reported. Property Taxes Receivable
The County Finance Director acts as an agent to collect property taxes
Annual appropriated budgets are adopted at the fund level. Subsidiary levied in the county for all taxing authorities. Tares are levied annually on
revenue and expenditure ledgers are used to compare the budgeted January 1 on property value listed as of the prior August 31. Assessed
amounts with actual revenues and expenditures. As a management control values are established by the County Assessor at 100% of fair market
device, the subsidiary ledgers monitor expenditures for individual value. A revaluation of all property is required every two years.
functions and activities by object class.
Property taxes levied by the County Assessor and collected by the County
The City of Renton's budget procedures are mandated by RCW 35A.33. Finance Director become a lien on the first day of the levy year and may be
The steps in the budget process are as follows: 1.) Prior to November 1, paid in two equal installments if the total amount exceeds$10. The first
the Mayor submits a proposed budget to the City Council. This budget is half of real property taxes is due on April 30 and the balance is due
based on priorities established by the Council and estimates provided by October 31. Delinquent taxes bear interest at the rate of 12% and are
the City departments during the preceding months, and balanced with subject to additional penalties if not paid as scheduled.
revenue estimates made by the Mayor. 2.) The City Council conducts
public hearings on the proposed budget in November and December. 3.) At year-end, property taxes are recorded as a receivable with the portion ,
The Council makes its adjustments to the proposed budget and adopts by not expected to be collected within 30 days offset by deferred revenue.
ordinance a final balanced budget no later than December 31. 4.)The final During the year, property tax revenues are recognized when cash is
operating budget as adopted is published and distributed within the first received.
four months of the following year. Copies of the budget are made
available to the public. The tax rate for general City operations is limited to$3.60 per$1,000 of
assessed value. Of this amount, up to $.45 pet thousand may be
Transfers or revisions within funds are allowed,but only the City Council designated for contribution to the Firemen's Pension Fund if a report by a
has the authority to increase or decrease a given fund's annual budget. qualified actuary indicates that additional funds are required.
This is accomplished by City ordinance. The budget was amended two
times during 1993. Budget amounts presented in the basic financial The payment of principal and interest on Limited Tax(non-voted) Bonds
statements include the original amounts,after all transfers and adjustments, issued by the City is made from the general levy. Accordingly, the
as approved by the City Council. issuance of Limited Tax General Obligation Bonds has the effect of
reducing property taxes available for the general operations of City
20
.. City of Renton Notes to The Financial Statements
government. In 1993, the City levied $3.16201 per $1,000 of assessed Accumulated Unpaid vacation and Sick Pay
valuation for general purposes and $.07215 for the Firemen's Pension Labor contracts with City of Renton employees call for the accumulation
Fund,for a total general tax levy of$3.23416. of vacation and sick leave. At termination of employment,employees with
the required length of service may receive cash payments for all
State law also provides that the City's operating levy may not exceed 106% accumulated vacation leave to a maximum of 432 hours. Sick leave
of the largest single levy of the past three years. The State Constitution termination benefits are based on a percentage of accumulated sick leave
provides that the total of all taxes upon real and personal property by the up to a maximum of 480 hours. The payment is based on current wages at
State and all taxing entities,including the City,shall not in any year exceed termination.
I%($10 per thousand dollars)of the true and fair monetary value of such
property. This limitation may be exceeded upon the approval of 60%of Accumulated amounts of vacation leave and related benefits are accrued as
.. the City voters at an election in which the total vote exceeds 40%of the expenses when incurred in Proprietary Funds. The current portion of the
votes cast at the last preceding general election. Enterprise Funds, $28,152, and the Internal Service Funds, $4,042, is
included with the current liability accounts Accrued Wages Payable and
For 1993,the City's general tax levy was$3.23416 and the excess levy for Accrued Employee Benefits Payable. In Governmental Funds, only the
Unlimited General Obligation Bonds issued for the construction of Gene current portion of the yearly accrual(based on last in-first out formula)left
Coulon Memorial Beach Park and Senior Housing was $.4157; a total of unpaid at the end of the fiscal year is recorded as fund liability and
$3.64993 per$1,000 on a total assessed valuation of$3,429,366,124,per expenditure. The remainder of the liability is reported in the General
the King County Assessor's 1993 Annual Report. Long-Term Debt Account Group. This reporting format is in compliance
with NCGA Statement 4. At year-end, 1993, the Governmental Funds
Estimated and actual property tax revenue is compared in the following recorded current liabilities of$219,959 on the respective balance sheets
table: and a long-term liability for the non-current portion of accumulated
vacation and related benefits in the amount of$1,520,653 in the General
Table 1: Property Tax Levy Long-Term Debt Account Group. The unpaid liability in the Proprietary
Estimated Actual Property Funds at December 31 was$182,495.
Item Property Taxes I Taxes Variance
General Levy $ 10,932,402 $ 10,736,544 $ (195,858) Accumulated sick leave and related benefits also based on NCGA
Excess Lev 1,400,126 1,360,496 39,630) Statement 4 which calls for accrual of Proprietary Fund liabilities and
Totals $ 12,332,528 $ 12,097,040 $ (235,488) inclusion of Governmental Fund liabilities in the General Long-Term Debt
Account Group. These amounts at December 31, 1993, were $197,790
and$1,708,122 respectively.The following table details the total vacation
Assessments Receivable and sick leave liability:
Unpaid special assessments receivable is reported in three accounts:
current, delinquent, and deferred. Current assessments are those due Table 3: Employee Leave Payable
within one month; delinquent assessments are past due; and deferred Item Current I Long-Term Total
assessments are due beyond one month. Revenue from the assessments is
recognized as it becomes current-that is,both measurable and available to General Governmental Funds $ 219,959 $ 0 $ 219,959
.. finance expenditures of the current period. General Long-Term Debt 0 3,228,775 3,228,775
Proprietary Funds 32,194 373,442 405,636
Fixed Assets and Depreciation Total Leave Benefits $ 252,153 $ 3,602,217 $3,854,370
The accounting and reporting treatment applied to the fixed assets
associated with a fund are determined by its measurement focus. Fixed Fund Equity-Reserves and Designations
assets acquired in Governmental Funds are accounted for as expenditures The City recognized in its reporting that assets are sometimes not
in the fund when the assets are purchased and are capitalized in the "available spendable resources" or at times legally available for
General Fixed Asset Account Group at historical cost. Where historical appropriations,because they are contractually or legally restricted for some
cost is not known,assets are recorded at estimated historical cost. Donated specific future use. When this is the case, as for example with debt
�. assets are valued at estimated fair market value at the time received. service,fund equity is"reserved". However,when management sets aside
Infrastructure such as roads, bridges and curbs are considered public portions of fund equity based upon tentative future plans or for
property and are not capitalized in the General Fixed Assets Account administrative convenience, these restrictions are reported as
Group.Governmental Fund assets are not depreciated. "designations" of unreserved fund equity. Designation is not used in
Proprietary Funds.
Fixed assets of the Enterprise and Internal Service Funds are recorded at
historical cost, and are accounted for in their respective funds. Capital Direct Charges/Credits to Enterprise Funds Retained Earnings
contributions are recorded as contributed capital and the assets are The Airport Fund has credited $159,580 directly to retained earnings,
r capitalized at their estimated fair market value at the date of donation. representing the retirement of Federal and State contributed capital for the
current year.
Fixed assets used by Proprietary Funds are depreciated and the
accumulated depreciation is reported in Proprietary Fund Balance Sheets. Risk Manaeement and Risk Retention
s Annual depreciation is recorded as an expense of the fund. Depreciation is It is the City of Renton's policy to self-insure first level coverages for
computed using the straight line method over estimated service life as property, liability, worker's compensation, and employee medical
follows: coverages. For mid-level and catastrophic losses the City purchases both
commercial insurance coverage,and reserves the right to invoke provisions
Table 2: Fixed Asset Service Life of RCW 35A.31.060,which allows cities to levy a non-voted property tax
" Asset Estimated Service Life increase to pay for uninsured claims. As of December 31, 1993 the
Buildings 25-50 years Insurance Fund's unreserved retained earnings totaled$394,713. See Note
Non-Building Improvements 25-50 years 17 for additional information.
Utility Plant 25-75 years
Equipment 3-20 ears NOTE 2-STEWARDSHIP,COMPLIANCE,AND
See Note 7 for additional information. ACCOUNTABILITY
There have been no material violations of finance related legal or
contractual provisions.
r
w.
21
City of Renton Notes to The Financial Statements ub
NOTE 3- CASH&INVESTMENTS ,
The City maintains an investment pool available for use by all funds.
Interest earned on pooled investments is recorded in the General Fund. additional assessments against members of the pool on a pro rata basis.
Investments are also held separately by several of the funds with interest Accordingly,the deposits covered by WPDPC are considered to be insured
earned directly for the benefit of each fund. and classified as risk category 1. The City had$43,907,825 in cash and '
investments at year-end which consisted of $9,889,181 in the State
DEPOSITS Investment Pool and Municipal Investors Account, $211,000 in
All deposits are entirely covered by Federal Depository Insurance (FDIC) certificates of deposit, $32,455,121 in other investments, and$15,232 in
or by collateral held in a multiple financial institution collateral pool petty cash.. All cash in excess of current requirements was invested at
administered by the Washington Public Deposit Protection Commission year-end with bank deposits reporting a positive cash balance of
(WPDPC). The FDIC insures the City's deposits up to$100,000 and the $1,337,290. Table 4 displays the breakdown of cash and deposits by type
WPDPC insures amounts over $100,000. The WPDPC provides for of deposits and by fund type.
"fable 4: Reconciliation of Cash and Investments by Fund Group
State Subtotal CashTotal All Total Cash ,
Investment &Cash Restricted Cash&Cash IRestricted &
Fund Group Cash Pool/MIA* E uivalents Cash Equivalents Investments Investments Investments
General $ 27,865. $ 2,813,515 $ 2,841,380 $ 0 $ 2,841,380 $ 0 $ 0 $ 2,841,380
Special Revenue 330,658 938,500 1,269,158 0 1,269,158 6,959,540 0 8,882,698
Debt Service 181,618 1,605,000 1,786,618 0 1,786,618 2,060,379 0 3,846,997
Capital Projects 170,318 1,895,000 2,065,318 0 2,065,318 6,633,418 0 8,698,736
Enterprise (501,045) 1,520,000 1,018,955 723,220. 1,742,175 4,634,497 9,237,889 15,614,561
Internal Service 109,156 629,166 738,322 0 738,322 1,150,231 0 1,888,553 ,
Trust&Agency 310,7321 488,000 798,732 0 798,732 1,990,168 0 2,788,900
Total 1 $ 629,3021 $ 9,889,1811 $ 11518,483L$ 723,2201 $ 11,241,7031 $ 23,428,2331 $ 9,237,889 1 $ 43,907,825
* Municipal Investor Account
INVESTMENTS NOTE 4-DEFERRED COMPENSATION
Washington State statutes provide for the City to hold investments The City offers its employees a deferred compensation plan created in
consisting of obligations of the federal government, repurchase accordance with Internal Revenue Code Section 457. This plan is
agreements, prime banker's acceptances, and time certificates of deposit administered by the Hartford Life Insurance Company and the ICMA
with authorized Washington State savings and loan institutions. Retirement Corporation. The plans are available to all City employees
Additionally,the Firemen's Pension Fund is authorized to invest in mutual which permits them to defer a portion of their salary until future years.
funds and obligations of the federal, state, and local government owned The deferred compensation is not available to employees until termination,
public utilities. retirement,death,or unforeseeable emergency.
All investments are valued at cost or amortized cost,which is substantially Compensation deferred under the plans and all income attributable to the
equivalent to market value. plans are solely the property of the City of Renton. The City's rights to this
property are subject only to the claims of the City's general creditors until
The City of Renton's investments are categorized to give an indication of paid to the employee or other beneficiary and are not restricted to the
the risk assumed at year-end. Category 1 includes investments that are benefit provisions under the plan. The deferred compensation plans
either insured, registered or held by the City or its agent in the City of investments are recorded at market value, along with the corresponding
Renton's name. Category 2 includes uninsured and unregistered liabilities in the deferred compensation fund. At December 31, 1993,the
investments which are held by the counterparty's trust department or agent market value of the plans assets were$4,459,948.
in the City's name. Category 3 includes uninsured and unregistered
investments which are held by the counterparty's trust department or agent It is the opinion of the City's legal counsel that the City has no liability for
in the agent's name. At the end of the year,the City had no investments in losses under the plan but does have the duty of due care that would be
category 3. required of an ordinary prudent investor. The City believes that it is
unlikely that it will use the assets to satisfy the claims of general creditors
in the future.
Table 5: Classification of Investments As of December 31, 1993
Carrying Market NOTE 5-RECEIVABLES AND PAYABLES
Item Category 1 I Category 2 Amount Value Table 6 on the next page details the specific receivables and payables at
US Govt $27,575,313 $84,764 $27,660,077 $27,835,788 December 31, 1993. The City provides reserves for potentially
Bankers'Accept 1,970,629 1,970,629 1,970,629 uncollectible water, wastewater, storm, metro, solidwaste utility, and
Convertible Bonds 236,134 236,134 250,079 airport charges. At December 31, 1993, these reserve balances were
Corporate Bonds 32,550 32,550 30,675 $64,740.
Sub-Total 29,545,942 353,448 29,899,390 30,087,171
Mutual Funds 1,636,720 2,063,409
Total Investments $29,545,942 $353,448 $31,536,110 $32,150,580
22
City of Renton Notes to The Financial Statements
Table 6: Receivables and Payables
Special Debt Capital Internal Trust&
Item General Revenue Service Projects Enterprise I Service I AgencX Total
Receivables:
Taxes $ 506,606 $ 0 $ 65,668 $ 0 $ 0 $ 0 $ 0 $ 572,274
Accounts 1,927,039 4,440 0 0 2,857,635 28,394 0 4,817,508
Special Assess-Current 0 0 1,055 0 0 0 0 1,055
Special Assess-Delinq. 0 0 91,695 0 0 0 0 91,695
Special Assess-Deferred 0 0 5,017,412 0 0 0 0 5,017,412
Interest-Special Assess 0 0 67,102 0 0 0 0 67,102
Interest on Investments 1 01 161,591 1 59,9471 207,9771 378,7131 20,9771 88,3071 917,512
Total All Fund Types 1 $ 2,433,6451 $ 166,031 1 $ 5,302,8791 $ 207,9771 $ 3,236,3481 49,371 1 $ 88,3071 11,484,558
Payables:
Matured Bonds Payable $ 0 $ 0 $ 40,000 $ 0 $ 0 $ 0 $ 0 $ 40,000
Matured Interest Payable 0 0 207,922 0 1,969 0 0 209,891
Accrued Interest Payable 0 0 0 0 348,097 9,421 0 357,518
Accrued Wages Payable 0 0 0 0 24,460 3,508 0 27,968
Accrued Benefits Payable 0 0 0 0 3,692 534 0 4,226
Accrued Taxes Payable 1,112 2,995 0 0 63,887 0 0 67,994
Total All Fund Types $ 1,1121 $ 2,9951 $ 247,9221 01 442,105 $ 13,463 $ 0 $ 707,597
INTERFUND RECEIVABLES AND PAYABLES INTERFUND LOANS/ADVANCES RECEIVABLE&PAYABLE
.. Table 7: Interfund Receivables and Payables The following is a reconciliation of the $188,890 interfund loans and
Item Due From Due To advances of which$104,991 is current and$83,899 is long-term:
General Fund $ 2,196 $ 162,909
Special Revenue Funds: Table 8: Interfund Loans/Advances Receivable and Payable
Park Fund 545 662 Interfund Loans/Advances
Street Fund 42,214 0
Community Development 28 1,700 Fund Receivable Payable
Impact Mitigation 233,693 84 General Fund $ 54,000 $ 0
Total Special Revenue Funds 276,480 2,446 Special Revenue Funds:
Debt Service Funds: Community Dev Block Grant 0 50,000
1983 Unlimited GO 7,611 0 Internal Service Funds
Miscellaneous Debt Service 3,187 0 Insurance Fund 39,890 0
1989 Unlimited GO 4,968 0 Enterprise Funds:
Total Debt Service Funds 15,766 0 Golf Course 0 134,890
Capital Project Funds: Agency&Trust Funds
Open Space 292 1,551 Firemen's Pension 95,000
Municipal Facilities Construction 3,850 0 Advance Travel 10 4,000
" Capital Improvement Fund 0 274,813 Total All Fund Grou s $ 188,890 $ 188,890
Senior Housing Contruction 0 292
Total Capital Project Funds 4,142 276,656
Enterprise Funds: INTERGOVERNMENTAL RECEIVABLES
Waterworks Utility Fund 0 0 At December 31, 1993, the receivables from other governmental units
Airport Fund 0 0 included federal,state and local grants receivable of$908,858,and several
Solid Waste Utility Fund 138 miscellaneous receivables amounting to $2,276,337. Included in these
Golf Course Fund 140,396 657 miscellaneous receivables are:$390,003 from Bryn Mawr-Lakeridge Water
Water&Sewer Construction 0 0 & Sewer District for their 25% share of a water joint facilities project;
Total Enterprise Funds 140,534 657 $1,833,588 from King County (Open Space funds - $1,814,435 and
Trust and Agency Funds: auction proceeds-$19,153);$52,746 from Valley Communications Center
Firemen's Pension 657 0 representing $43,473 of principal and 9,273 of interest which is the
Flexible Benefits 2,893 0 balance of a loan advanced to Valley Com in 1985. See Note 9 for the
Total Internal Service Funds 3,550 0 details of this loan transaction.
i'otal All Fund Types $ 442,668 $ 442,668
23
City of Renton Notes to The Financia!Statements i
Table 9: Due From Other Governmental Units Table 11: Operating Transfers
Source Amount General 1ImpactI Capital
an
Grants: General Gov't Funds Fund Miti on IPro'ects Total '
US Department of Justice $ 20,448 Transfers In: I $ 11,0001 $ 0 $985,0301 $996,030
US Department of Commerce 53,823 Transfers Out:
US Department of Agriculture 71,749 Parks Fund $ 0 $ 0 $ 60,000 $ 60,000
US Department of Transportation 145,030 Arterial Street 0 0 279,500 279,500
US Department of Housing&Community Impact Mitigation 0 0 232,688 232,688
Development 42,456 Cable Comm 11,000 0 109,500 120,500
WA Department of Transportation 90,526 LID Guaranty 0 0 303,342 303,342
WA Department of Natural Resources 62,142 Municipal Facilities 0 0 0 0
WA Commission for Outdoor Recreation 203,084 Capital Improvement 0 0 0 0
WA Department of Ecology 219,600 1 Waterworks Utility 0 0 0 0
Subtotal-All Grants 908,858 Insurance Fund 0 0 0 0
ther Governmental Receivables: Total Tranfers Out $ 11,000 $0 $985,030 $996,030
Bryn Mawr-Lakeridge Water&Sewer District 390,003
King County 1,833,588 Golf Insurance
Valley Communications Center 52,746
Pro rieta Funds Course Fund Total
Transfers In: $375,575 $__01 $ 375,575
[Total Due From Other Governmental Units $3,185,195 Transfers Out:
General Fund $375,575 $0 $ 375,575
NOTE 7-FIXED ASSETS
INTERGOVERNMENTAL PAYABLES General Fixed Assets are long lived assets of the City as a whole. When ,
A total of$843,289 was recorded as due to other governmental units at purchased,leased,or constructed,such assets are recorded as expenditures
December 31, 1993. This included: 1.) $30,151 for Narcotics grant in the Governmental Funds and capitalized in the General Fixed Assets
reimbursement to the agencies as follows: $9,730 to the City of Tukwila; Account Group. All fixed assets are valued at historical cost, estimated
$9,330 to the City of Auburn;$11,014 to the City of Kent;and$77 to the historical cost, or fair market value at time of donation. No depreciation
Department of Justice, 2.) $756,957 is the portion of Municipal Court's has been provided on general fixed assets,nor has interest been capitalized.
outstanding receivables for bail due to the State; 3.) $56,181 to the Infrastructure assets are considered public property and are not accounted
Washington State Department of Community Development for current for in the General Fixed Assets Account Group. At the end of 1993
portion due on Public Works Trust Fund loans. nineteen projects comprised the Construction Work in Progress. Upon
completion, the projects will be capitalized in the General Fixed Asset
Account Group in their appropriate categories. Tables 12 and 13 describe
the changes in the City's general fixed assets during 1993 and the
NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS
Construction Work In Progress at the end of the year.
� .
Interfund transfers are classified as either operating transfers or residual Table 12: Changes in General Fixed Assets
equity transfers. Operating transfers are accounted for as "other financing
sources or uses" and are included in the operating statements. Residual Beginning Ending
Asset Balance Additions I Deletions Balance
equity transfers are direct additions or subtractions to fund balance/fund
equity. Contributions to Proprietary Funds are recorded as contributed Land $13,825,812 $ 0 $ 0 $13,825,812
capital in those funds. The following interfund transactions occurred in Building 19,377,136 42,119 0 19,419,255
1993: Non-Bldg Improv 13,654,404 86,335 0 13,740,739
Equipment 5,762,095 534,740 103,030 6,193,805
Const in Progress 122,393 4,325,499 68,482 4,379,410
Total 1 $52,741,8401$4,988,6931 $171,512 $57,559,021
Table 10: Residual Equity Transfers
Special Special Fixed assets of Proprietary Funds are capitalized in their respective balance
Assessment Assessment Equip. sheets.. These assets are stated at cost,estimated cost when original cost is
Item Debt Guaranty Rental "l'otal not available, or fair market value at the time received in the case of
contributions. Depreciation expense is charged to operations of
Transfers In: 24,706 131,362 4,761 $ 160,829 Proprietary Funds to allocate the cost of fixed assets over their estimated
Transfers Out: useful lives, using the straight-line method with useful lives of 3 to 75
Street 4,761 4,761 years.
Special Assess Debt 131,362 131,362
Special Asses Cont 24,706 24,706 The City's policy is to capitalize net interest on Proprietary Fund
Total 24,706 131,362 4,761 160,829 construction projects until completion of the project. The amount of
capitalized interest equals the difference between the- interest cost
associated with the tax exempt borrowing used to finance the project and
the interest earned from temporary investment of the debt proceeds.
Capitalized interest is amortized on the straight-line basis over the
estimated useful life of the asset. For 1993, interest costs incurred on
construction projects in Proprietary Funds were not material.
24
City of Renton Notes to The Financial Statements
w Table 13: Construction Work In Pro ress Table 14,below,provides a summary of Proprietary Fund property,plant,
Estimated Estimated and equipment as of December 31, 1993.
Cost To Remaining Total
Project Date Costs Cost
Cedar River Park Improvement $ 5,751 $ 24,249 $ 30,000
Council Chambers Audio/Visual 3,545 213,455 217,000 CONTRIBUTED CAPITAL RETIREMENT
Municipal Space Needs 147,950 759,468 907,418 The Airport Fund has $5,706,067 of contributed capital which includes
Cedar River Maintenance Shop 13,701 16,299 30,000 $5,566,467 of Federal, $53,775 of State, and $85,825 of private sources
Library Improvement Project 6,025 1,314,730 1,320,755 Which is being retired on an annual basis. The unamortized balance as of
Senior Center Greenhouse 19,221 6,429 25,650 December 31, 1993 was$1,999,770.
Black River Forest 35,791 599,675 635,466
Cedar River Trail 542,281 1,387,779 1,930,060 The Airport is the only fund which amortizes its contributed capital at this
oney Creek/May Creek 313,627 65,815 379,442 time. The Waterworks Utility Fund has $70,483,225 of contributed
ake Washington Waterfront 21,947 91,886 113,833 capital. The Equipment Rental Fund has $1,038,192 of contributed
pringbrook Trail 13,070 404,316 417,386 capital,and the Golf Course Fund has$5,000 of contributed capital. These
F/Honey Creek Trail 1,958 1,042 3,000 funds'contributed capital are not being retired.
FBlack River Forest 7,478 201,522 209,000
May Creek Trailhead 81,951 27,249 109,200
May Creek Trail/IAC 80,634 88,566 169,200
Puget Western Property Acq 81,397 586 81,983
AC/CED RV TR-Narco/Acq 203,084 0 203,084
dw ED Riv TR C/F Narco/Acq 1,800,000 0 1,800,000
ED Riv TR/Narco/OS 1 1,000,000 0 1,000,000
Total 4,379,411 5,203,066 9,582,477
Table 14: Proprietary Property,Plant&Equipment
Waterworks Airport Solid Waste Golf Course Total Enterprise Equipment Total Internal
Asset Utility Fund Utility Fund I I Rental Service
Land $ 2,166,491 $ 784,080 $ 0 $ 2,683,200 $ 5,633,771 $ 0 $ 0
Buildings 4,302,693 353,516 0 460,178 5,116,387 0 0
Equipment 3,852,274 33,410 386,330 119,252 4,391,266 3,908,090 3,908,090
Other Improvements 92,803,957 8,043,707 0 1,906,475 102,754,139 0 0
.. Construction Work in Progress 12,435,729 62,718 0 3,851 12,502,298 0 0
Total Assets $ 115,561,144 $ 9,277,431 $ 386,330 $ 5,172,956 $ 130,397,861 $ 3,908,090 $ 3,908,090
Less Accumulated Depreciation 22,590,338 5,205,500 (60,688 (428,524 (28,285,050) (2,287,777 (2,287,777
Net Property,Plant,&Equipment $ 92,970,806 $ 4,071,9311$ 325,642 $ 4,744,432 $ 102,112,811 $ 1,620,313 $ 1,620,313
NOTE 8-PREPAID ITEMS The allocation of prorated financial participation among the four
The General Fund has recorded$8,000 of prepaid items at December 31, participating cities is the percentage of dispatched calls attributed to each
1993. This amount represents prepaid postage charges to be expensed in jurisdiction compared to the total estimated dispatched calls, for the
.. 1994. The Airport Fund has recorded $3,938 of prepaid items at current twelve month period ending December 31. The percentages are
December 31, 1993. This amount represents prepaid insurance charges to applied to the current approved budget,less revenue from all other sources.
be expensed in 1994. The Insurance Fund has recorded$3,000 of prepaid Distribution of current year net income is based on the same percentages.
items at December 31, 1993. This amount represents a revolving fund The 1993 cost distribution for the four participating cities was as follows:
established to pay claims by our insurance broker.
s
Table 15: Joint Venture Cost Distribution
NOTE 9-JOINT VENTURE Cit Dis atchable Calls I %of Total 1 1993 Assessments
The "Valley Communications Center" was established August 20, 1976,
when an Interlocal Agreement was entered into by the four participating Renton 51,595 26.84% $ 677,536
MW municipal corporations, including the cities of Renton, Kent,Auburn, and Kent 56,000 29.13% 735,344
Tukwila. The agreement is sanctioned by the provisions and terms of the Auburn 42,835 22.28% 562,426
"Interlocal Cooperation Act"pursuant to RCW 39.34. The initial duration Tukwila 41,800 21.75% 549,047
of the agreement was five years, and thereafter is automatically extended Total 192,230 100.00% _11,524,353_j
r for consecutive two year periods,unless terminated by one or more of the
participating cities. Any such termination must be in writing and served Valley-Com is governed by an Administration Board, composed of the
upon the other cities on or before July 1 in any one year, and such Mayors or designated representatives from the four participating cities of
termination shall then become effective on the last day of such year. Renton, Kent, Auburn, and Tukwila. The Administration Board is
responsible for the following functions: 1.) Budget review and
The purpose of the joint operation,hereafter referred to as Valley-Com, is recommendations to the legislative bodies of the participating cities, and
to provide improved consolidated emergency communications (dispatch) budget adoption after each legislative body has approved the required
services for police,fire,and medical aid,to the four participating cities and financial participation for the ensuing year; 2.) Approves appointment
to the several subscribing agencies, which include King County Fire and/or discharge of the Director;3.)Approves personnel policy and makes
+� Districts #20, #40, #43, #46, #47; City of Pacific Police and Fire final decisions on all major policy changes; 4) Reviews and approves all
Departments;City of Algona Police Department;and Valley Medic Units. contracts.
Separate agreements between Valley-Com and the subscribing agencies
have been executed, which set forth conditions of services and rates
charged.
25
City of Renton Notes to The Financial Statements ..
In addition, an Operations Board provides direction, and consists of two Table 18: Statement of Revenues,Expenses and Changes in Retained
members of each participating city's Public Safety Departments,including Earnings
the heads of such departments or their designees. The Operations Board Item Amount
performs the following functions: 1.) Oversees the operation of Valley- Operating Revenues: ,
Com, and advises and makes recommendations to the Administration Intergovernmental Charges $2,963,057
Board; 2.) Makes recommendations on Director selection; 3.) Presents Miscellaneous 2,246
proposed policies and budgets to the Admin. Board; 4.) Approves Transfers In 0
disbursement of funds by the Director. Total Operating Revenues 2,965,303
The Director presents a proposed budget to the Operating Board on or Operating Expenses (2,356,161)
before August 15 of each year. Said budget is then presented to the Net Operating Income 609,142
Admin.Board by September 1 of each year. The Admin.Board can make Non-Operating Revenues(Expenses):
changes to the proposed Valley-Com budget as it finds necessary,but final Interest and Misc.Revenues 59,568 '
approval falls to the legislative body of each participating city, in Expense 17,440 accordance with the provisions of the Interlocal Agreement. Total Non-Operating Revenues(Expenses) 42,128
Net Income(Loss) 651,270
The Interlocal Agreement was amended in February 1985,when the four Retained Earnings at Beginning of Year 2,173,660 '
participating cities agreed to contribute the financing for construction of a Retained Earnings at End of Year $2,824,930
new Valley-Com facility. The total amount of financing needed was
distributed among the four cities, based on dispatchable call statistics for
the year 1984, as shown below. The cities will be repaid from Valley-
Com's revenue. The obligation is secured by a ten-year promissory note, The share of equity belonging to the four participating cities is shown in
bearing 8.75% interest. The City of Renton's portion of the loan was Table 19 on the next page. Liabilities are the responsibility of the four
advanced from the Equipment Rental Fund, and repayment will be participating cities in direct proportion to their equity position. Audited,
received into this fund. Following is a schedule of financing contributions, 1993 financial statements are available from Valley-Com. ,
and outstanding debt for the building loan at 8.75%maturing 4/1/95.
Table 19: Joint Venture E uit
Table 16: inancing Contributions&Outstanding Debt Item Renton Kent I Auburn Tukwila I Total
Building Loan Building Loan Equity 12/31/92 $646,906 $653,071 $529,101 $344,582 $2,173,660
Authorized Outstandin- Prior Period Ad'. 0 0 0 0 0
Cit %of
Total I Amount l/l/93 Redeemed 1 12/31/93 AdjEquity l/1/93 646,906 653,071 529,101 344,582 2,173,660
Renton 31.81% $245,533 $75,019 $31,546 $43,473 1993 Increase 199,690 216,728 165,763 161,821 744,002 ,
Kent 28.84% 222,609 68,015 28,601 39,414 Equity 12/31/93 $846,596 $869,799 $694,864 $506,403 $2,917,662
Auburn 26.38% 203,621 62,213 26,161 36,052 %of Equity 29.01% 29.81% 23.82% 17.36% 100.00%
Tukwila 12.97% 100,112 30,587 12,862 17,725 %of 1993 Distrib 26.84% 29.13% 22.28% 21.75% 100.00%
Total 100.00% $771,875 $235,834 $99,170 $136,664
NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT
Tables 17 and 18 show the condensed financial position as of December BENEFITS
31, and the results of operation and changes in retained earnings for the All of the City's full-time and qualifying part-time employees participate in
year ended 1993. one of the following three defined benefit retirement systems: 1.) Public
Employees'Retirement System(PERS);2.)Law Enforcement Officers and
Fire Fighters Retirement System (LEOFF) which are both established by
State statute and administered by the State's Department of
Table 17: Balance Sheet
Item Amount Retirement Systems; and 3.) The Firemen's Pension System established
Assets: and administered by the City according to State statute. The City's total
Current Assets $4,484,391 payroll for all employees was $22,125,495 for the year ended December
Property,Plant and Equipment 2,403,603 31, 1993.
Total Assets $6,887,994
The pension benefit obligation presented by each system are standard
Liabilities and Fund Equity: disclosure measures of the present value of pension benefits, adjusted for
Current Liabilities $ 439,053 the effects of credited projected salary increases and step-rate benefits
Long-Term Liabilities 1,010,414 (LEOFF only)estimated to be payable in the future as a result of employee
Total Liabilities 1,449,467 service to date. The measure, which is the actuarial present value of
Retained Earnings 2,824,930 projected benefits, is intended to help users assess the system's funding
Contributed Capital 2,613,597 status on a going concern basis, assess progress made in accumulating
Total Fund Equity 5,438,527 sufficient assets to pay benefits when due, and make comparisons among
Total Liabilities and Fund Equity $6,887,994 systems and employers. The standardized disclosure method is
independent of the actuarial funding method used to determine '
contributions to the retirement systems.
26
City of Renton Notes to The Financial Statements
Table 20: PERS and LEOFF Information By Plan
.. PERS PLAN I PERS PLAN II LEOFF PLAN I LEOFF PLAN II
(Membership prior to (Membership on or (Membership prior to (Membership on or
Item 10/l/77) after 10/1/77) 10/1/77) after 10/1/77)
Vesting Requirement:
Service year required for vesting of benefits 5/25/30 5/20* 5 5/20
Retiring age for vesting of benefits 60/55/an age 65/55* 50 58/50
Employee Contribution:
Actual rate @ 12/31/93 6.00% 5.00% 6.00% 8.41%
Actual Amount $ 196,892 $ 472,655 $ 175,332 $ 470,701
Required rate @ 12/31/93 6.00% 5.2% 6.00% 8.45%
Required Amount $ 196,892 $ 501,481 $ 175,332 $ 530,481
Employer Contribution:
Actual rate @ 12/31/93 7.41% 7.41% 6.00% 5.05%
Actual Amount $ 227,211 $ 725,186 $ 181,761 $ 296,507
Required rate @ 12/31/93 7.41% 7.41% 6.00% 5.07%
Required Amount $ 243,162 $ 714,611 $ 175,332 $ 318,289
* Receive reduced benefits.
PUBLIC EMPLOYEE'S RETIREMENT SYSTEM prior to March 1, 1970, when the LEOFF retirement system was
PERS is a contributory multi-employer cost-sharing retirement system. All established. The System is considered part of the City's reporting entity
of the City's non-uniformed employees are covered by this system. and is included in the City's financial statements as a pension trust fund.
Membership in the system includes elected officials; state and local At December 31, 1993,there were 45 members in the System,including 38
governmental employees;and other public employees.Approximately 50% retirees and beneficiaries currently receiving benefits and terminated
of PERS members are state employees. The system provides retirement employees entitled to benefits but not yet receiving them; 7 vested active
benefits at 2%of the final average salary per year of service. members and no nonvested active members. The City's payroll for
employees covered by the System for the year ended December 31, 1993
LAW ENFORCEMENT OFFICERS&FIRE FIGHTERS RETIREMENT was$447,394.
SYSTEM
The LEOFF system is also a contributory multi-employer cost-sharing The retirement benefits vest after 20 years of service. Members may retire
system for all uniformed law enforcement officers and fire fighters. The after 25 years of service regardless of age;and after age 50 with 20 or more
retirement benefits are calculated as a percentage of final average salary years of service. The plan also provides death and disability benefits. The
based on years of service. Contributions to both systems by employee and benefit provisions and all other requirements are established by State
employer are based on actuarially determined requirements and established statute.
.. by State statute. The City's contribution in 1993 represents its full liability
under both systems except certain medical and disability premiums under Significant Accounting Policies and Plan Assets
the LEOFF Plan 1, which are considered immaterial. There were no Please refer to Note 1 to the financial statements with regards to the
material changes in benefit provisions, actuarial assumptions, actuarial significant accounting policies. Investments in the System are valued at
funding methods,or other significant facts and the aggregate effect on the cost,and completed transaction method is used in gain or loss recognition
.. employer's contribution rate. on exchanges of securities. There were no material changes in any
accounting policies in 1993.
Table 21: PERS and LEOFF Information By System
Item(in million dollars) PERS LEOFF Funding Status and Progress
The contribution requirement and pension obligation was computed as part
City Payroll Covered $ 12.925 $ 9.200 of an actuarial valuation performed as of December 31, 1992. Significant
City's Contribution as%of Covered Payroll 7.36% 5.19% actuarial assumptions used in the valuation of both include: 1.) 8%
Empl Contrib as%of Covered Payroll 5.18% 7.02% investment return, compounded annually,: 2.) 6.25% salary increase
Total Payroll Covered By System $ 4,906 $ 506.7 annually,5%due to inflation and 1.25%for merit increase;3.) 0%growth
City's Actuarially Determined Contrib Req in fire insurance premium;4.)8%annual increase in property tax;and 5.)
as a%of Total Contribution Requirement .26% 1.81% 5%increase in consumer price index. There were no material changes to
Total Pension Benefit Obligations $ 9,758 $ 4,281 the benefit provisions,actuarial funding method or other significant factors
Less Net Assets Available For Benefits (8,344) (3,141) that affect contributions required.
Unfunded Actuarial Present Value Of
Accumulated Plan Benefits $ 1,414 $ 1,140 Unfunded Pension Benefit Obligation
The standardized measure of the unfunded pension benefit obligation as of
The system does not make separate measurements of assets and pension December 31, 1993,is as follows:
benefit obligation for individual employers.The pension benefit obligation
and net assets available for benefits for the systems as a whole were
determined by the office of State Actuary as of December 31, 1992. Table 22: Unfunded Pension Benefit Obligation
Item Amount
�. Historical trend information showing the systems' progress in Retirees and beneficiaries currently receiv'g benefits $ 6,224,000
accumulating sufficient assets to pay benefits when due are presented in Current Employees:
the State of Washington Department of Retirement Systems'June 30, 1993 Cumulative Employee Contribution 55,000
Comprehensive Annual Financial Report. Employer Contribution-vested 797,000
Total Pension Benefit Obligation $ 7,076,000
FIREMEN'S PENSION Net assets available for benefits,at cost
Plan Description (Market Value$3,287,251) (2,478,168)
The City contributes to the Firemen's Pension Plan(the System),a closed, Unfunded Pension Obligation $ 4,597,832
single-employer, defined benefit retirement plan established and
administered by the City in accordance with the Renton Municipal Code
and State statutes. This system was established for fire fighters employed
.r
27
City of Renton Notes to The Financial Statements
Actuarial Funding Method & Amortization of Unfunded Pension actuarially determined in 1982, 1986, 1988, 1990 and 1992. Amounts
Obligation included for other periods were estimated based on the most recent
The System's funding policy requires the employer to make contributions actuarial result.
for the actuarially determined amount using the Aggregate Cost funding
method. This method does not explicitly calculate the cost of benefits The contributions to the System for 1993 of $246,000 were made in
accruing during the year for active employees, i.e., normal cost. On an accordance with actuarially determined requirements and represent 60%of
estimated basis, approximately $55,000 of the 1993 cost is for active the covered payroll.Other incomes to the system include$51,032 from fire
employees with the remaining amount paid toward reducing the unfunded insurance premiums and $228,286 of investment income. Trend data
liability. The unfunded obligation is amortized over the period ending presented below is designed to provide detailed information on the
December 31,2008,assuming cost increases 8%annually. Employees are System's accumulation of sufficient assets to pay benefits when due.
not required to make contributions. Pension benefit obligations were
Table 23: Fire Pension Ten-Year Fundingogress Data
Net Assets Pension Benefi I Unfunded Annual Unfunded Pension Employer
Fiscal Available for Obligation Percentage Pension Covered Obligation as a%of Employer Contribution As a%
Year Benefits Funded Obligation Payroll Covered Payroll Contribution of Covered Payroll
1993 $ 2,478,168 $ 7,076,000 35.02% $4,597,832 $447,394 1027.69% $ 246,000 54.98%
1992 $ 2,430,896 $ 6,998,000 34.74% $4,567,104 $428,350 1066.21% $ 228,000 53.23% '
1991 2,325,477 6,656,197 34.94% 4,330,720 343,072 1262.34% 206,000 60.05%
1990 2,075,326 6,984,000 29.72% 4,908,674 367,652 1335.14% 191,000 51.95%
1989 1,954,839 6,164,532 31.71% 4,209,693 456,618 921.93% 175,000 38.33%
1988 1,816,787 6,288,000 28.89% 4,471,213 467,220 956.98% 162,000 34.67% �.
1987 1,620,625 6,150,000 26.35% 4,529,375 468,665 966.44% 150,000 32.01%
1986 1,548,140 6,150,000 25.17% 4,601,860 516,247 891.41% 259,000 50.17%
1985 1,285,181 7,595,000 16.92% 6,309,819 559,051 1128.67% 240,000 42.93%
1984 953,388 7,595,000 12.55% 6,641,612 574,767 1155.53% 220,000 38.28% ,
1983 1 850,551 1 7,595,000 1 11.20% 6,744,449 652,375 1033.83% 202,145 30.99%
Table 24: Fire Pension Ten-Year Revenues and Expenses
Revenue by Source Expenses by Type
Employer Fire Insurance Investment
Fiscal Year Contributions Premium Income Total Revenue Benefits Administration Total Expenses
1993 $ 246,000 $ 51,032 $ 228,286 $ 525,318 $ 283,383 $ 7,265 $ 290,648
1992 228,000 44,536 149,719 422,255 314,066 2,770 316,836
1991 206,000 52,895 185,264 444,159 277,497 8,609 286,106
1990 191,000 48,865 227,438 467,303 252,197 2,521 254,718
1989 175,000 49,842 263,152 487,994 251,468 5,722 257,190
1988 162,000 50,378 165,071 377,449 249,904 5,052 254,956
1987 150,000 53,834 106,714 310,548 235,971 2,092 238,063
1986 259,000 51,960 179,568 490,528 221,680 5,879 227,559
1985 240,000 34,244 88,427 362,671 213,036 2,110 215,146
1984 222,000 37,265 42,700 301,965 197,987 2,302 200,289
1983 202,145 1 37,788 51,370 1 291,303 200,387 3,057 203,444
OTHER POSTEMPLOYMENT BENEFITS NOTE 11-CONSTRUCTION COMMITMENTS
In addition to the pension benefits described in Note 10,the City provides At December 31, 1993, the City had significant contractual construction
postemployment benefits in accordance with State statute to all LEOFF I commitments.These are listed below:
(law enforcement officers and fire fighters hired prior to 10/1/77)and Fire
Pension(fire fighters hired prior to 3/1/70)retirees. Currently there are 76 Table 25: Construction Commitments
LEOFF I retirees who receive necessary medical and hospitalization Project Title Commitment I Funding Source
coverage and five retirees who are covered solely by the Fire Pension Plan Revenue
and receive medical coverage limited to treatment of service related Bonds/Public works
disabilities only. Expenditures for postemployment health care benefits are Waterworks Improvements $ 2,325,840 Trust Fund Loans
recognized as retirees report claims. The City does not have a funding Senior Housing Improvements $ 265,290 GO Bonds ,
policy at this time and no assets are designated for this purpose. During Airport Improvements $ 146,323 Grant
the year,expenditures of$196,119.93 were recognized for postemployment Street Improvements $ 516,482 General/Grant
health care.
NOTE 12-LONG-TERM DEBT
State statute provides that the City's responsibility for medical payments of The City of Renton's long-term debt consists of General Obligation Debt,
LEOFF I retirees is secondary to any other coverage retirees receive or are repaid mainly from general governmental revenue sources;Special
eligible to receive. 'Be City recognizes a potential savings exists when Assessment Debt,repaid from special assessment payments from
retirees utilize medicare as primary coverage and the City for secondary participants;and Proprietary Debt,repaid from proprietary revenues.
coverage and ineligible expenses. Therefore, upon reaching age 65, the These debts are accounted for in the following areas: 1.)The outstanding
City requires the retirees to apply for and utilize Medicare Part B coverage. general obligation debt,except for the portion applicable to proprietary
The City reimburses these medicare premiums at an average cost of operations,is reported in the General Long-Term Debt Account Group;2.)
approximately $32 per month for 20 LEOFF I retirees and five Fire The repayment,or debt service of the same,is recorded in the Debt Service
Pension retirees. Funds;3.)The proprietary debt includes the portion of general obligation
debt applicable to proprietary operations. Both the liability and repayment
of the same are reported in individual Proprietary Funds. The City has an
28
City of Renton Notes to The Financial Statements
A 1 bond rating from Moody's Investors Service for both its General Obligation Bonds and Revenue Bonds. Table 26 summarizes long-term debt
transactions of the City for the year ended December 31, 1993. A detail of all outstanding debt of the City is listed in table 27 on the following page.
Table 26 Long Term Debt Additions and Retirements Summary
Payable Payable
Item 1/1/93 Added Retired 12/31/93
General:
General Obligation $17,363,397 $11,016,750 $11,154,372 $17,225,775
Installment 613,712 0 165,109 448,603
Contracts
Arbitrage 330,995 69,094 0 400,089
Special Assessment 7,584,000 1,654,063 3,771,000 5,467,063
Employee Leave
Benefits 1 3,063,307 1 165,468 0 1 3,228,775
Total General $28,955,411 $12,905,375 $15,090,481 $26,770,305
Proprietary:
Revenue Bonds $22,545,000 $14,145,000 $8,940,000 $27,750,000
General Obligation 4,341,603 3,173,250 2,930,628 4,584,225
Arbitrage 10,188 747 0 10,935
Employee Leave
Benefits 331,359 42,083 0 373,442
Public Works Trust
Fund Loan 1 973,241 477,925 9,420 1,441,746
Total Proprietary $28,201,391 $17,839,005 $11,880,048 $34,160,348
Total All Funds
Revenue Bonds $22,545,000 $14,145,000 $8,940,000 $27,750,000
General Obligation 21,705,000 14,190,000 14,085,000 21,810,000
Installment 613,712 0 165,109 448,603
Contracts
Arbitrage 341,183 69,841 0 411,024
Special Assessment 7,584,000 1,654,063 3,771,000 5,467,063
Employee Leave
Benefits 3,394,666 207,551 0 3,602,217
Public Works Trust
Fund Loan 973,241 477,925 9,420 1,441,746
Total All Funds $57,156,802 $30,744,380 $26,970,529 $60,930,653
DEBT PRO RATED BETWEEN FUNDS
The 1986 Limited General Obligation Bond issue and the 1993 Limited General Obligation Refunding Bond Issue included funds to provide permanent
financing for the purchase of a Golf Course which was acquired in 1985. The$3,460,660 is the remaining obligation for this purchase and is reported on
.r. the balance sheet of the Enterprise Funds. Likewise,a pro rata share of the 1985, 1986, 1989 and 1992 general obligation bonds were for the benefit of the
Equipment Rental Fund and are therefore reported on the balance sheet of the Internal Service Fund. The entire debt in each instance is secured by the full
faith and credit of the general government. Table 28 provides a reconciliation of debt distribution between the Proprietary Funds and the General Long
Term Debt Account Group.
.r
r
.r
29
City of Renton Notes to The Financial Statements ,
Table 27 Outstanding Debt as of December 31, 1993 ,
Interest Issue Maturity Outstanding
Item Rates Date Date Authorized 1/1/93 Issued Redeemed Refunded 12/31/93
GENERAL OBLIGATION BONDS:
Limited ,
1978 Senior Citizens Center 5,38% 02/01/78 02/01/98 $900,000 $385,000 $0 $55,000 $0 $330,000
1983 G O Refunding Bonds 8.70%-9.30% 06/01/83 05/01/02 2,655 000 115,000 0 115,000 0 0
1986 G O Bonds 6.50%-9.00°/ 06/01/86 06/01/02 9,220,000 6,540,000 0 555,000 4,390,000 1,595,000
1989 GO Bonds 6.101/6-7.00% 02/01/89 02/01/02 1,600,000 1,345,000 0 95000 0 1,250,000
1989 G O Refunding Bonds 6.75%-7.00% 06/01/89 05/01/02 2,085 000 2,000,000 0 30,000 0 1,970,000
1992 G0Bonds 2.60%-500% 10/01/92 12/01/02 1,365,000 1,365,000 0 105,000 0 1,260,000
1993 G 0 Bond(FlexLine) 2,80%4,95% 03/01/93 12/01/99 350,000 0 350,000 45,000 0 305,000
1993 G O Refunding Bonds 3.00-4.80% 08/01/93 06/01/02 4,910,000 0 4,910,000 0 0 4,910,000 ,
Subtotal Limited GO 23,085,000 11,750,000 5,260,000 1,000,000 4,390,000 11,620,000
Unlimited
1983 G 0 Refunding Bonds-Coulon Pk 6.00%-10.00°/ 05/01/83 05/01/02 7,140,000 4,755,000 0 370,000 4,385,000 0
1989 G O Bonds-Sr Housing 6.401/,7.50% 02/01/89 02/01/09 5,500,000 5,200,000 0 165,000 3,775,000 1,260,000
1993 G O Refunding Bonds-Coulon Pk(Tx) 4.00%6.10°/ 09/01/93 05/01/02 4,660,000 0 4,660,000 0 0 4,660,000
1993 G O Refunding Bonds-Sr Housing 2.7(r/,5.20% 09/01/93 02/01/09 4,270,000 0 4,270,000 0 0 4,270,000
Subtotal Unlimited GO 21,570,000 9,955,000 8,930,000 535,000 8,160,000 10,190,000 '
Total General Obligation Bonds $44,655,000 $21,705,000 $14,190,000 $1,535,000 $12,550,000 $21,810,000
INSTALLMENT CONTRACTS:
King County(Land) 10.00% 8/25/88 10/01/94 90,300 64,004 0 8,295 0 55,709
Holm(Property) 10.00% 11/20/90 05/01/95 159,291 109,291 0 25,000 0 84,291 '
Holm Property Mortgage 10.50% 11/20/90 02/01/95 80,708 74,570 0 3,337 0 71,233
Telephone Lease 8.00% 04/17/89 08/01/95 549,574 328,937 0 111,413 0 217,524
Printshop Copier 9.01% 10/01/90 09/01/94 38,367 18,488 0 10,208 0 8,280
Copier Lease 9.01% 10/01/90 09/01/94 13,095 6,310 0 3,484 0 2,826
Printing Press Lease 11,25% 03/10/91 02/10/96 17,394 12,112 0 3,372 0 8,740
Total Installment Contracts 948,729 613,712 0 165,109 0 448,603
TOTAL GENERAL OBLIGATION DEBT $45603,729 $22,318,712 $14,190,000 $1,700,109 $12,550,000 $22,258,603
REVENUE BONDS: ,
1973 Airport 6.10% 04/01/73 04/01/93 $565,000 $50,000 $0 $50,000 so $0
1977 Water/Sewer Refunding 6.01% 12/01/77 07/01/99 3,045,000 1,860,000 0 225,000 0 1,635 000
1983 Water/Sewer 8.70% 05/01/83 05/01/99 1,500,000 95,000 0 95,000 0 0
1985 Water/Sewer 9.73% 04/01/85 04/01/05 2,600,000 320,000 0 100,000 0 220,000
1986 Water/Sewer 7.901/6 08/01/86 08/01/06 1,800,000 270,000 0 60,000 0 210,000
1987 Water/Sewer 7.55% 06/01/87 06/01/06 3,375 000 725,000 0 125,000 0 600,000
1988 Water/Sewer 7.56% 06/01/88 06/01/08 3,460,000 3,090,000 0 110,000 2,320,000 660,000
1989 Water/Sewer 6.85%-7.50% 05/01/89 05/01/09 1,715,000 1,590,000 0 50,000 1,165,000 375,000
1989 Water/Sewer Refunding 6.00%-7.10% 09/01/89 04/01/05 2,150,000 2,025,000 0 25,000 1,440,000 560,000
1990 Water/Sewer 5.90%-7.37% 11/01/90 10/01/10 4,100,000 3,885 000 0 115,000 2,715,000 1,055,000
1992 Water/Sewer 3.50%-6.50% 06/01/92 12/01/12 4,000,000 4,000,000 0 110'()000
3,890,000
1992 Water/Sewer Refunding 3.50%6.35% 06/01/92 12/01/06 4,635,000 4,635,000 0 55,000 0 4,580,000 ,
1993 Water/Sewer 3.0-5.375% 08/01/93 04/01/13 5,285,000 0 5,285,000 0 0 5,285,000
1993 Water/Sewer Refunding 3.0-5.375% 01/08/93 04/01/10 8,860,000 0 8,860,000 180,000 0 8,680,000
TOTAL REVENUE BONDS $47,090,000 $22,545,000 $14,145000 $1,300,000 $7,640,000 $27,750,000
PUBLIC WORKS TRUST FUND LOANS:
Northwest 7th Sewer Repair 5.00% 12/31/91 07/01/01 $84,779 $84,779 $0 $9,420 $0 $75,359
Sierra Hts Sewer Impry 3.00% 10/20/92 07/01/12 888,462 888,462 0 0 0 888,462
Central Renton Sewer Replacement 1.00% 06/14/93 07/01/13 96,519 0 96,519 0 0 96,519
East Renton Interceptor 2.00% 06/14/93 07/01/13 381,406 0 381,406 0 0 381,406
TOTAL PUBLIC WORKS TRUST FUND LOANS $1,451,166 $973,241 $477,925 $9,420 $0 $1,441,746
LID BONDS AND NOTES:
313 Street 6.25% 04/01/87 04/01/99 $12,239 $4,000 $0 $1,000 $0 $3,000 �.
314 Street/Utilities 9.0%-11.125% 09/01/89 09/01/01 6,789,084 1,945,000 0 280,000 0 1,665,000
326/331 Street 5.50%-7.70% 10/01/86 10/01/98 372,160 75,000 0 20,000 0 55,000
330 Street/Utilities 5.50%-7.30% 07/01/88 07/01/00 380,299 110,000 0 30,000 0 80,000
332 Street/Utilities 6.00°/-7.75% 10/15/88 10/15/05 3,450,183 2,250,000 0 240,000 0 2,010,000 '
329 StreetfUtilitics 3.00%-5.50% 04/01/93 04/01/03 600,000 3,200,000 1,654,063 3,200,000 0 11654,063
TOTAL LID BONDS AND NOTES $11,603,965 $7,584,000 $1,654,063 $3,771,000 s0 $5,467,063
ARBITRAGE $341,183 $69,841 $411,024 ,
EMPLOYEE LEAVE BENEFITS $3,394,666 $207,551 $3,602,217
TOTAL OUTSTANDING DEBT $105,748,860 $57,156,802 $30,744,380 $6,780,529 $20,190,000 $60,930,653
10
++� City of Renton Notes to The Financial Statements
Table 28: Pro Rata Debt
Waterwork Solid Waste Golf Equipment General
Course Long
Issue Utility utility Fund Rental Term Debt Total
1986 General Obligation Bond
Payable-Long Term $96,360 $0 $486,180 $47,085 $677,875 $1,307,500
Payable-Current 44,000 0 222,000 21,500 287,500
Total 1986 General Obligation Bond $140,360 $0 $708,180 $68,585 $677,875 $1,595,000
1989 General Obligation Bond:
Payable-Long Term $0 $0 $0 $228,155 $1,000,950 $1,229,105
Payable-Current 0 0 0 20,895 0 20,895
Total 1989 General Obligation Bond $0. $0 $0 $249,050 $1,000,950 $1,250,000
1992 General Obligation Bond:
Payable-Long Term $0 $0 $0 $263,350 $970,200 $1,233,550
Payable-Current 0 0 0 26,450 0 26,450
Total 1992 General Obligation Bond $0 $0 $0 $289,800 $970,200 $1,260,000
1993 General Obligation Refunding
Bond
Payable-Long Term $421,520 $0 $2,126,760 $205,970 $2,086,750 $4,841,000
Payable-Current 10,560 0 53,280 5,160 0 69,000
Total 1993 General Obligation Ref $432,080 $0 $2,180,040 $211,130 $2,086,750 $4,910,000
Bonds
1993 General Obligation Bond
(Flexline):
Payable-Long Term $0 $260,000 $0 $0 $0 $260,000
Payable-Current 0 45,000 0 0 0 45,000
Total 1993 General Obligation Bond $0 $305,000 $0 $0 $0 $305,000
Other General Obligation Bond $0 $0 $0 $0 $12,490,000 $12,490,00
., 0
Installment Contracts $0 $0 $0 $0 448,603 448,603
Total General Obligation Debt $572,440 $305,000 $2,888,220 $818,565 $17,674,378 $22,258603
s
SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT
As of December 31, 1993,a total of$5,467,063 of long-term special assessment debt was outstanding. This debt was issued to fund capital improvements
to enhance the utility, accessibility and aesthetic value of property within the City of Renton. The source of repayment of this debt is in the form of
assessments against benefiting property owners. In the event of default by one of these property owners the City is obligated for repayment, and has
established a guaranty fund for that purpose. As of December 31, 1993, special assessments receivables totaled$5,110,162, which includes$91,695 of
delinquent assessments. $642,546 in the guaranty fund represents 11.75%of special assessment debt outstanding.
.r
DEBT LIMIT CAPACITIES
State law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable property of the City: 0.75%without a vote
of the people; 2.5%with a vote of the people; 5%with a vote of the people,provided the indebtedness in excess of 2.5%is for utilities;and 7.5%with a
r vote of the people provided the indebtedness in excess of 2.5%is for parks and open space development. At December 31, 1993,the debt limits for the
City were as follows:
Table 29 Debt Limit Capacities
With a Vote of the Peo le
Item Without a Vote 2.5% 5% 7.5%
Legal Limit $25,558,705 $85,195,682 $170,391,364 $255,587,046
.. OutstandingNet Indebtedness 11,711,244 16,909,513 16,909,513 20,982,921
Capacity Available $13,847,461 $68,286,169 $153,481,851 $234,604,125
REFUNDED DEBT
The City has refunded twelve general obligation, Local Improvement District and revenue bond issues by placing the proceeds of new bonds in an
irrevocable trust to provide for all future debt service payments on the old bonds. As a result,the refunded bonds are considered to be defeased and the
liability has been removed from the City's financial statements. Schedules of assets, liabilities, and equity as of December 31, 1993, and changes to
r refunded bonds payable are on the following page:
.rr
r
31
City of Renton Notes to The Financial Statements
Table 30 Refunded Bonds
First Trust
Item Washington Seafirst Key Bank Total '
Assets:
Cash with Trustee $6,173 $30 $2,370 $8,573
Investments with Trustee 4,654,300 4,169,000 20,097,556 28,920,856
Estimated Interest Receivable 437,792 76,378 1,353,422 1,867,592
Total Assets $5,098,265 $4,245,408 $21,453,348 $30,797,021
Liabilities:
Refunded Bonds Payable $4,970,000 $3,775,000 $18,635,000 $27,380,000 ,
Equity:
Earnings with Trustee 128,265 470,408 2,818,348 3,417,021
Total Liabilities and E ui $5,098,265 $4,245,408 $21,453,348 $30,797,021
Table 31: Changes to Refunded Bonds Payable
Item Balance 12/31/92 Increase Decrease Balance 12/31/93
Refunded Bonds Payable GO $5,460,000 $12,550,000 $6,535,000 $11,475,000
Refunded Bonds Payable LID 1,610,000 0 230,000 1,380,000
Refunded Bonds Payable 7,910,000 7,640,000 1,025,000 14,525,000
Revenue
Total $14,980,000 $20,190,000 $7,790,000 $27,380,000
i
Advance Refundine
In 1993,the City issued$22,700,000 of refunding bonds with an average interest rate of 5.01%to advance refund$20,190,000 of outstanding bonds with
an average interest rate of 7.93%. The net proceeds$22,360,081 after issuance costs were used to purchase U.S.government securities. Those securities ,
were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the old bonds. As a result,the old bonds are
considered to be defeased and the liability for those bonds has been removed from their funds and general long term debt account group respectively.,
The summary below shows the reduction in the City's debt service payments by fund type.
Table 32: Refunding Debt Service Analysis �.
Refunded Issue Refunding Issue Cash Flow Economic
Item Amount Rate Amount Rate Difference Gain(1)
General Governmental Fund Type:
1983 Unlimited GO Refunding $4,385,000 9.81% $4,660,000 5.52% $734,867 $592,072
1989 Unlimited GO 3,775,000 7.02% 4,270,000 4.92% 302,950 222,858
1986 Limited GO 1,866,552 7.46% 2,086,750 4.53% 129,543 110,200
Proprietary Fund Type:
1986 Limited GO 2,523,448 7.46% 2,823,250 4.53% 175,265 149,095
1988, 1989, 1989 Refunding,and
1990 Water/Sewer Revenue Bonds 7,640,000 1 7.42% 1 8,860,000 1 5.08% 1 801,145 1 469,881
Total $20,190,000 $22,700,000 $2,143,770 $1,544,106
(1) Economic Gain(Loss)is the present value of the difference between the old and new debt service payments.
The advance refunding also resulted in the recognition of an accounting loss of$1,456,489 in the proprietary funds. The accounting gain/loss is the i
difference of the principal amount adjusted by any unamortized premiums or discounts. It does not consider time value of money nor the interest rate on the
issues.
32
" City of Renton Notes to The Financia!Statements
DEBT SERVICE TO MATURITY
Following is a schedule showing the debt service requirements to maturity for the City's long-term debt. Formulas have been implemented to compute the
principal and interest obligations for the special assessment debt as it is redeemed in direct proportion with special assessment collections from district
participants. A formula has also been used to compute the interest requirements on the general obligation debt that carries a variable interest rate tied
directly to the prime rate.
'Table 33 Debt Service Re uirement to Maturity
General Installment Revenue Public Works Special Total
Obligation Bonds Contracts Bonds Trust Fund Loans Assessment Debt Long-Term Debt
Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest
1993 $1,535,000 $1,576,711 $165,110 548,885 $1,300,000 $1,578,226 $9,420 $19,762 $3,771,000 $422,025 $6,780,527 $3,645,610
1994 1,905,000 1,102,176 173,304 34,347 1390,000 1,512,410 56,181 39,015 745,063 377,921 4,269,548 3,065,869
1995 1,885,000 1,016,615 238,003 10,632 1,470,000 1,431,848 81,335 37,141 726,000 324,776 4,400,338 2,821,012
1996 2,015,000 904,449 11,791 3,666 1,570,000 1,344,939 81,335 34,815 701,000 273,508 4,379,126 2,561,377
1997 2,145,000 790,415 12,145 2,551 1,660,000 1,252,344 81,335 32,489 670,000 224,041 4,568,480 2,301,840
1998 2,265,000 676,441 13,360 1,336 1,765,000 1,154,504 81,335 30,163 665,000 176,350 4,789,695 2,038,794
1999 2,315 000 553,958 0 0 1,870,000 1,052,185 81,335 27,837 665,000 129,034 4,931,335 1,763 014
2000 2,390,000 425,713 0 0 1,405,000 956,978 81,335 25,511 390,000 81,442 4,266,335 1,489,644
2001 1,880,000 311,948 0 0 1,500,000 875,336 81,335 23,185 390,000 56,126 3,851,335 1,266,595
2002 1,980,000 208,965 0 0 1,565,000 795,986 71,915 20,859 350,000 30,810 3,966,915 1056,620
�r 2003 365,000 142,713 0 0 1,665,000 711,001 71,915 19,003 165,000 8,486 2,266,915 881,203
2004 385,000 124,895 0 0 1,760,000 619,285 71,915 17,148 0 0 2,216,915 761,328
2005 410,000 105,610 0 0 1,850,000 520,578 71,915 15,293 0 0 2,331,915 641,481
2006 430,000 84,815 0 0 1,710,000 420,893 71,915 13,438 0 0 2,211,915 519,146
4! 2007 455,000 62,463 0 0 1285,000 336,741 71,915 11,583 0 0 1,811,915 410,787
2008 480,000 38,560 0 0 1,360,000 263,069 71,915 9,728 0 0 1,911,915 311,357
2009 505,000 13,130 0 0 1095,000 193,916 71,915 7,873 0 0 1,671,915 214,919
2010 0 0 0 0 995,000 134,484 71,915 6,018 0 0 1,066,915 140,502
°MV 2011 0 0 0 0 690,000 85,713 71,915 4,163 0 0 761,915 89,876
2012 0 0 0 0 730,000 43,838 71,915 2,307 0 0 801,915 46,145
2013 0 0 0 0 415,000 11,153 25,155 452 0 0 440,155 11,605
Totals 521,810,000 $6,562,866 $448,603 $52,532 $27,750,000 $13,717,201 $1,441,746 $378,021 $5,467,063 $1,682,491 $56,917,412 $22,393,114
i'
AMOUNT AVAILABLE FOR DEBT SERVICE
Fund balances that have been reserved for debt repayment are: $400,089 in the capital projects fund and$4,080,943 in the debt service funds.
.. ARBITRAGE PAYABLE
The Federal Tax Reform Act of 1986 requires issuers of tax-exempt debt to make payments to the United States Treasury of investment income received at
yields that exceed the issuer's tax-exempt borrowing rates. The liability is recorded at present value and payable every 5 years or 60 days after defeasance of
the debt. The estimated amount due at year end is$411,024.
NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS
In accordance with generally accepted accounting principles for regulated businesses,the Waterworks Utility Fund had a deferred cost of$320,000 in 1982
that was a Utility Fund payment for construction of a new City Shop facility,which was occupied in mid-1984. The facility was constructed from the
.. proceeds of a$2,300,000 General Obligation Bond Issue.
The$320,000 will be credited toward the Utility's portion of the rental charge for the new facility and will be expensed over the 20-year life of the bond
issue. As of December 31, 1993,there was a balance remaining of$160,000.
s
NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY
Following is an analysis of fund equity reservations and designations by type for each of the City's fund groups.
Table 34: Reservations of Fund Equity
General Debt Capital Internal Trust
Equity Reserved For: F I Service I Projects I Enterprise Service &A.ency Total
Debt Service/Arbitrage $ 0 $ 4,080,943 $400,089 $ 2,201,018 $ 0 $ 0 $ 6,6$2,050
Advances/Other Funds 54,000 0 0 0 0 0 54,000
`r Insurance Deductible 0 0 0 0 0 0 0
Pension Obligation 0 0 0 0 0 7,076,000 7,076,000
Total $ 54,000 $ 4,080,943 $400,089 $ 2,201,018 $ 0 $ 7,076,000 $ 13,812,050
Table 35: Unreserved Designated Fund E uity
Equity Designated For: General Fund Special Revenue Total
Inmate Health&Welfare $ 20,075 S 0 $ 20,075
Investigative Fund Confiscations 394,894 0 394,894
.�
Developmentally Disabled Program 0 4,269 4,269
Total $ 414,969 S 4,269 $ 419,238
.r
33
City of Renton Notes to The Financial Statements
NOTE 15-SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains four enterprises whose operations are accounted for in the Enterprise Funds and are financed and operated in a manner similar to private ..
business. It is generally intended that the costs of providing goods or services to the general public on a continuing basis should be financed or recovered
primarily through user charges. Segment information for the year ended December 31, 1993,is on the next page.
Table 36: Segment Information for Enterprise Funds
Waterworks
Item Utility Airport Solid Waste Golf Course Total
Total Operating Revenue $ 14,831,621 $ 612,163 $ 6,251,537 $ 804,197 $ 22,499,518
Operating Expenses:
Operations&Maintenance $ 8,039,088 $ 201,266 $ 5,629,406 $ 525,879 $ 14,395,639
Administrative&General 1,262,446 82,429 0 0 1,344,875
Insurance 0 11,378 0 0 11,378
Taxes 1,176,613 0 840,833 3,722 2,021,168
Depreciation 1,858,777 231,793 55,466 52,295 2,198,331
Total Operating Expenses $ 12,336,924 $ 526,866 $ 6,525,705 $ 581,896 $ 19,971,391
Net Operating Income(Loss) $ 2,494,697 $ 85,297 $ (274,168) 222,301 $ 2,528,127
Non-Operating Revenue Net of Expenses (695,760) 49,474 161,927 (162,412) (646,771)
Operating Transfers In Out 0 0 0 375,575 375,5755
Net Income(Loss)Before Extraordinary Item $ 1,798,937 $ 134,771 $ (112,241) $ 435,464 $ 2,256,931
Extraordinary Loss on Advance Refunding 1,195,745) 0 0 237,962) 1,433,707)
Net Income(Loss) $ 603,192 $ 134,771 $ (112,241) $ 197,502 $ 823,224
Net Working Capital $ 2,842,599 $ 1,292,163 $ 773,488 $ 164,888 $ 5,073,138
Additions to Property,Plant and
Equipment,Net of Disposals $ 5,625,815 $ 497,274 $ 371,642 $ 478,484 $ 6,973,215
Total Assets $ 110,129,91 $ 5,455,306 $ 1,595,469 $ 5,051,495 $ 122,232,189
9
Long Term Debt,Net of Current Portion
&Bond Premium/Discount $ 27,919,687 $ 16,877.$ 254,550 $ 2,611,361 $ 30,802,475
Current Capital Contributions IS 5,065,726 $ 103,6591$ 0 $ 01$ 5,169,385
Total Fund Equity $ 79,893,750 1$ 5,347,217 1$ 799,580 $ 2,022,679 $ 88,063,226
NOTE 16-LITIGATION
The City is involved in several pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by insurance resulting
from such litigation would not materially affect the financial statements of the City.
NOTE 17-RISK MANAGEMENT
The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and ommissions; injuries to
employees; and natural disasters. The City of Renton protects itself against unforeseen losses by utilizing a three-pronged risk management approach.
First,the City self funds first level losses through its Insurance Fund. Second,stop-gap insurance is purchased to cover medium and large losses. And
third,the City reserves the right to utilize the provisions of RCW 35A.31.060 to fund catastrophic or uninsured losses. This State statute allows cities to
levy a non-voted property tax increase to pay for uninsured claims. An analysis of the self-insurance retention levels, limits of insurance, and claims '
administrators for the major types of coverages are presented below.
Table 37: Risk Management '
Risk
Retention Risk Sharin
Type of Coverage Occurrence Claims Adm Aggregate Carrier
Property $100,000 Giesy,Greer&Gunn $77,167,340 Affiliated FM
Liability 250,000 Giesy,Greer&Gunn 9,500,000 Genesis
Auto Liability 250,000 Giesy,Greer&Gunn 4,750,000 Genesis
Boiler&Machinery 5,000 Giesy,Greer&Gunn 30,000,000 Kemper
Public Official's 25,000 Giesy,Greer&Gunn 2,000,000 International '
Crime 5,000 Giesy,Greer&Gunn 1,000,000 Kemper
Airport Liability 5,000 Giesy,Greer&Gunn 5,000,000 American Eagle
Undergrd Storage Tank 10,000 Giesy,Greer&Gunn 1,000,000 Commerce&Industry
Worker's Comp 200,000 Johnston&Culberson 2,000,000 Safety National
Employee Health 90,000 HMA,Inc N/A Safeco
;-i
City of Renton Notes to The Financial Statements
The City's risk management program is administered by the Administrative Services Administrator,with claims being processed by the independent claims
administrators noted above. As of December 31, 1993,the City had accrued the following amounts for outstanding claims.
Table 38: Outstanding Claims
Incurred/ Incurred But Not Reported Total Claims
Coverage Reported Payable
Property&Liability $ 0 $ 1,100,803 $ 1,100,803
Worker's Compensation 0 25,396 25,396
Employee Health 0 132,927 132,927
Total $ 0 $ 1,259,126 $ 1,259,126
Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated settlement value of both reported and unreported claims. The
Insurance Fund is used for collecting interfund premiums from insured funds and departments,and for paying claims settlements. lnterfund premiums are
assessed on the basis of claims history,number of employees,and value of assets. Table 38 on the next page presents changes in claims liabilities for 1992
and 1993.
t
Table 39: Changes in Claims Liabilities
Property and Liability Worker's Compensation Employee Health Totals
Item F 1993 1992 1993 1992 1993 1 1992 1993 1992
]aims Liabilities at Beginning of Year $ 575,743 $ 210,443 $ 41,439 $ 54,080 $ 125,057 $ 195,691 $ 742,239 $ 460,214
]aims Expenses:
Current Year and Changes in Estimates 1,496,315 1,123,759 134,664 170,387 2,552,285 2,355,943 4,183,264 3,650,089
Claims Payments (971,255) (758,459) (150,707) (183,028) (2,544,415) (2,426,577) (3,666,377) (3,368,064
]aims Liabilities at End of the Year $ 1,100,803 $ 575,743 $ 25,396 $ 41,439 $ 132,927 $ 125,057 $ 1,259,126 $ 742,239
NOTE 18-PRIOR PERIOD ADJUSTMENTS
Washington State Sales Tax Adjustment of$86,648 from previous years. The amount of credit from the State for the General Fund was$26,648 and
$60,000 for the Parks Fund.
a
NOTE 19-SUBSEQUENT EVENTS
Senior Housing Fund Transaction:
„r Pursuant to the terms of the 1989 Housing Cooperation Agreement and bond covenants,on January 20, 1994, the city quit claimed to the City of Renton
Housing Authority the real estate, including improvements, which the city acquired with the proceeds of the 1989 $5.5 million Unlimited General
Obligation Bonds and$1.7 million in other revenue. At December 31, 1993, the City's General Fixed Assets Account Group do not include the costs of
this real estate, commonly referred to as the Senior Housing Construction Project. City officials signed the quit claim deed on December 16, 1993.
r Total cost of the project at December 31, 1993 is$7.0 million. The unmatured portion of the general obligation debt remains on the City's books at
December 31, 1993 which consists of $1.26 million of 1989 Unlimited General Obligation Bonds and $4.27 million of 1993 General Obligation
Refunding Bonds.
a
.W
r
r
r
Mr
rr
35
City of Renton 1993 CAFR ab
s
aew
r
1
36
City of Renton 1993 CAFR
M GENERALFUND
The City of Renton's General Fund includes all financial transactions
which are not properly accounted for in other funds. It is the largest
accounting entity in the City and provides for most of the general
operation except for park, street, and library functions, which are
accounted for in special revenue funds.
The major resource to the Fund is general tax revenue. Licenses and
permits, charges for service, and fines and forfeits provide additional
support.
r
i
r
r
37
City of Renton 1993 CAFR
GENERAL FUND Page 1 of 1
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992
r
1993 1992
ASSETS:
Cash and Cash Equivalents ........................ $ 2,841,380 $ 2,436,903
Receivables:
Taxes .......................................... 506,606 330,266
Accounts ....................................... 1,927,039 1,627,389
Due From Other Funds ............................. 2,196 12,114 t
Due From Other Governmental Units ................ 20,448 55,586
Prepaid Items . .................................. 8,000 0
Interfund Loans/Advances Non-Current ........... 54,000 54,000
TOTAL ASSETS .. .... ..
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ..................... $ 423,463 $ 255,177
Due To Other Funds ............................. 162,909 178,026 '
Due To Other Governmental Units ................ 787,108 736,361
Accrued Taxes Payable .......................... 1,112 917
Deposits Payable ............................... 54,255 68,805
Deferred Revenues ............... .... ..... 1,541,784 1,169,908 ,
Accrued Employee Leave Benefits ................ 148,168 128,993
TOTAL LIABILITIES .................................. '$ 3,118;799 $ 2,538,187
FUND EQUITY:
Fund Balance: ,
Reserved For Advances To Other Funds ......... $ 54,000 $ 54,000
Unreserved - Designated:
For Inmate Health & welfare ................ 20,075 15,195
For Investigative Fund Confiscations ....... 394,894 278,404
Unreserved - Undesignated ..... .... .. 1,771,901 1,630,472
TOTAL FUND EQUITY, ............ .... ...., ..._,.. $ 2,240,870 $ 1,978,071'
TOTAL LIABILITIES AND FUND EQUITY .................. $ —5,359,669 $ 4,516,258'
r
38
City oJRenton 1993 CAFR
GENERAL FUND Page 1 of 1
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
1993 1992
REVENUES
w Taxes .............................................. $ 18,400,707 $ 17,532,540
Licenses And Permits ............................... 1,099,509 1,234,753
Intergovernmental Revenues ......................... 3,064,613 1,575,912
Charges For Services ............................... 757,609 1,001,891
Fines And Forfeits ................................. 864,229 867,386
Interest ........................................... 307,172 336,838
Miscellaneous Revenues ............................. 139,714 191,041
TOTAL' REVENUES ....................................... $ 24;633,553 $ 22,740,361 '
w. EXPENDITURES
Current:
General Government ............................... $ 3,962,433 $ 4,209,899
.. Security Of Persons And Property ................. 15,654,019 13,551,649
Physical Environment ............................. 1,163,369 1,157,112
Economic Environment ............................. 2,528,440 2,444,899
Mental And Physical Health ....................... 8,983 10,992
Capital Outlay ..................................... 360,148 318,926
Debt Service:
Principal Retirement ............................. 43,802 43,802
Interest & Fiscal Charges 23,633 27,713
TOTAL>EXPENDI'TURES ........s $ 23.;744,82T::' ::; 21,764,99Z>
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 888,726 $ 975,369
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 694
Operating Transfers In 11,000 55,956
Operating Transfers (Out) .......................... (375,575) (672,125)
Other Financing (Uses) ............................. (300,000) 0
Sale Of General Fixed Assets 12,000 (589)
TOTAL OTHER FINANCING SOURCES (USES) ...............,.I $ (652,575) $ (616,064)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 236,151 $ 359,305
FUND BALANCE JANUARY 1 ............................... 1,978,071 1,618,766
Prior Period Corrections ........................... 26,648 0
FUND BALANCE>DECEMBER',31 ... ....................... $ 2,240,870 $ 1,978,071 'I
39
City of Renton 1993 CAFR
GENERAL FUND Page 1 of 1
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
GENERAL
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 18,031,281 $ 18,400,707 $ 369,426 $ 17,532,540
Licenses And Permits ............................... 1,005,000 1,099,509 94,509 1,234,753
Intergovernmental Revenues ......................... 2,919,253 3,064,613 145,360 1,575,912
Charges For Services ............................... 839,840 757,609 (82,231) 1,001,891
Fines And Forfeits ................................. 751,600 864,229 112,629 867,386
Interest ........................................... 300,000 307,172 7,172 336,838
Miscellaneous Revenues 83,057 1399714 56,657 191,041
TOTAL REVENUES ...':......:...... ......:......:...... $ 23,930,03:1 $ .'24,633;553 703,522 S ::Z274Q,361;
EXPENDITURES
Current:
General Government ............................... $ 4,069,631 $ 3,962,433 $ 107,198 $ 4,209,899
Security Of Persons And Property ................. 16,292,934 15,654,019 638,915 13,551,649
Physical Environment ............................. 1,301,462 1,163,369 138,093 1,157,112
Economic Environment ............................. 2,950,518 2,528,440 422,078 2,444,899
Mental And Physical Health ....................... 9,470 8,983 487 10,992
Capital Outlay ..................................... 366,076 360,148 5,928 318,926
Debt Service:
Principal Retirement ............................. 43,802 43,802 0 43,802
Interest & Fiscal Charges ........................ 23,633 23,633 0 27,713
TOTAL EXPENDITURES .................... 23,744,827 $ 1312,699 $ 21:764 992.
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,127,495) $ 888,726 $ 2,016,221 $ 975,369 ~
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 694
Operating Transfers In ............................. 11,000 11,000 0 55,956
Operating Transfers (Out) .......................... (366,394) (375,575) (9,181) (672,125)
Other Financing Sources ............................ (300,000) (300,000) 0 0
Sale Of General Fixed Assets ....................... 0 12,000 12,000 (589)
TOTAL OTHER'`FINANCING !SOURCES ;(USES};,.,;; R,.,: 064:3
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,782,889) $ 236,151 $ 2,019,040 $ 359,305
FUND BALANCE JANUARY 1 ............................... 2,105 095 1,978,071 (127,024) 1,618 766
Prior Period Corrections 0 26,648 26,648 0
FUND I;BALANCE'»DECEMBER 31 $ 322`206 $ 2,240,870 $ <1,918,664 «$ 1,978,071
40
City of Renton 1993 CAFR
SPECIAL REVENUE FUNDS
low
Special Revenue Funds account for the proceeds of specific revenue
sources other than special assessments, expendable trust, or major
capital projects. These revenues finance particular activities or
functions as required by law or administrative regulations. The City of
Renton's Special Revenue Funds are summarized below.
PARK FUND - Accounts for operation of the City's parks and
recreation system, maintenance of municipal buildings, and
landscaping services for public facilities. Resources are primarily from
general tax revenues and charges for services.
ARTERIAL STREET FUND - Established in accordance with RCW
82.36.020 for the administration of the State levied motor vehicle 112
cent gasoline tax distributed to Renton. Expenditures are limited by
law to capital improvements of City arterial streets.
STREET FUND- Established in accordance with RCW 35A.37.010 to
account for maintenance and improvement of the City's street and
traffic control systems. Major sources of support are general tax
revenues and the State levied tax on motor vehicle fuels distributed to
r
Renton,to be used for City street purposes.
COMMUNITY DEVELOPMENT BLOCK GRANT FUND - Established
in 1992 to administer the Federally funded Community Development
Block Grant activity per City Ordinance #4335. The program was
reported in the General Fund in prior years.
IMPACT MITIGATION FUND - Created to account for monies
collected from developers to offset impacts created by their
■. developments to City's facilities.
LIBRARY FUND -Accounts for operation of the City's library system,
including central and branch facilities. Resources to the fund are
mainly general tax revenues and library fines.
PATHS AND TRAILS RESERVE FUND - Created for the purpose of
planning, accommodating, establishing, and maintaining certain paths
i
and trails. 1/2 of 1% of the State levied motor vehicle fuel tax
distributed to Renton, is allocated to this fund each year.
ONE PERCENT FOR ART FUND-The fund is established to account
for required City's contribution equal to 1% of general governmental
capital project funding for art projects.
CABLE COMMUNICATIONS DEVELOPMENT FUND - Provision for
promotion and development of cable communications according to
City Ordinances#3155 and#3137
r
r
i
41
City of Renton 1993 CAFR
SPECIAL REVENUE FUNDS Page 1 of 2
COMBINING BALANCE SHEET
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992
PARK ARTERIAL STREET COMM DEVELOP r
STREET BLOCK GRANTS
ASSETS:
Cash and Cash Equivalents ........................ $ 569,402 $ 79,660 $ 160,477 $ 26,479
Investments ...................................... 300,000 0 800,000 0 .r
Receivables:
Accounts ....................................... 0 0 3,894 0
Interest on Investments 1,480 0 10,641 0
Due From Other Funds ............................. 545 0 42,214 28
Due From Other Governmental Units 0 0 0 39,793
TOTAL ASSETS_ $' 871,427 $ 79,660 $ 1,017,226 $ 66,300
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ..................... $ 165,038 $ 0 $ 60,583 $ 14,600
Due To Other Funds ............................. 662 0 0 1,700 '
Due To Other Governmental Units ................ 0 0 0 0
Accrued Taxes Payable .......................... 2,995 0 0 0
Deposits Payable ............................... 20,200 0 0 0
Deferred Revenues .............................. 0 0 0 0
Accrued Employee Leave Benefits ................ 47,110 0 19,553 0
Interfund Loans/Advances - Non-Current 0 0 0 50,000
TOTALaILIABILITIES .................................. $ 236,005:: 66,300r>
FUND EQUITY: '
Fund Balance:
Unreserved - Designated:
Developmentally Disabled Program ........... $ 4,269 $ 0 $ 0 0
Unreserved - Undesignated 631,153 79,660 937,090 0
TOTAL FUND EQUITY ... .... ...... $ 635,422 $ 79,660 $ 937,090 $ 0
TOTAL. LIABILITIES AND FUND EQUITY .................. $ 871,427 $ 79,660 $ 1;017,226 $ 66,300'''
42 ,
City of Renton 1993 CAFR
x Page 2 of 2
CABLE
IMPACT LIBRARY PATHS ONE PERCENT COMMUNICATIONS
MITIGATION & TRAILS FOR ART DEVELOPMENT 1993 1992
$ 45,745 $ 280,054 $ 18,891 $ 39,033 $ 49,417 $ 1,269,158 $ 1,477,370
5,659,539 75,000 0 0 125,000 6,959,539 4,794,899
546 0 0 0 0 4,440 6,710
140,369 400 0 0 8,701 161,591 86,980
233,693 0 0 0 0 276,480 39,134
0 0 0 0 0 39,793 94,818
$6,079,892 $ 355i',454 $ 18,891 S 39,033 'I $ 183,118 $ 8,711,001 $ 6,499,911<I
$ 0 $ 13,785 S 0 $ 0 $ 0 $ 254,006 $ 275,260
84 0 0 0 0 2,446 0
0 0 0 0 0 0 1,040
0 0 0 0 0 2,995 1,358
0 0 0 0 0 20,200 15,245
0 0 0 0 0 0 859
0 5,020 0 0 0 71,683 62,308
0 0 0 0 0 50,000 50,000
$, 84 $ 18,805 $ 0 $ 0 $ 0 $ 401,330 $ 406,070
$ 0 S 0 $ 0 $ 0 $ 0 S 4,269 $ 5,380
6,079,808 336,649 18,891 39,033 183,118 8,305,402 6,088,461
$6,079,80$..::...x..336 444. $```:`.<` 41 $ 39,033 $ 183;118 $ 8,309,671 $ 6,093,84E<
$6`,079,892:: $355,454 ::$ 8;891 $ 39,033 $ 183,118 $ 8,711,001 $ 6,499,91..T.:.
43
City of Renton 1993 CAFR ,
SPECIAL REVENUE FUNDS Page 1 of 2 ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992 '
PARK ARTERIAL STREET COMM DEVELOP
STREET BLOCK GRANTS '
REVENUES
Taxes .............................................. $ 4,894,914 $ 0 $ 2,851,129 $ 0 ,
Licenses And Permits ............................... 0 0 46,458 0
Intergovernmental Revenues ......................... 0 310,514 680,620 238,865
Charges For Services ............................... 600,536 0 65,410 0 ,
Fines And Forfeits ................................. 0 0 0 0
Interest ........................................... 21,276 2,475 27,518 0
Miscellaneous Revenues 378,943 0 1,747 0
TOTAL REVENUES ....................................... $ 5,8.9.5"669 $ 312.;989 $ 3,.672,882 >« 23$,865;.;
EXPENDITURES
Current:
General Government .......................... $ 1,295,576 $ 0 $ 0 $ 0
Transportation ........................... 135,513 0 2,793,958 0 '
Economic Environment ............................. 484,105 0 0 142,619
Culture and Recreation ........................... 3,625,996 0 0 0
Capital Outlay .. .. .. 33,090 0 57,370 96,246_
TOTAL'EXPENDI'TURES ...........:............:....... .... $ 5,574y280 $: 0 $ 2,$51,328 $ 238,.865:;:
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .............. $ 321,389 $ 312,989 $ 821,554 $ 0
OTHER FINANCING SOURCES (USES) ,
Interfund Loan Repayments .......................... $ 0 $ 0 $ (400,000) $ 0
Operating Transfers In ............................. 0 0 0 0
operating Transfers (out) ....................... (60,000) (279,500) 0 0
TOTALOTHER 'FINANCING' SOURCES>'(USES) $ (60,000) $ (279,500) $
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 261,389 $ 33,489 $ 421,554 $ 0
FUND BALANCE JANUARY 1 ............................... 314,033 46,171 520,297 0
Residual Equity Transfers Out ...................... 0 0 (4,761) 0 '
Prior Period Corrections ........................... 60,000 0 0 0
FUND''BALANCE`DECEMBER 31 .. >L .....s.............': $ sb35,42Z $ 79,660::;:.f,. 937,090 $ 0
44
City of Renton 1993 CAFR
Page 2 of 2
ONE CABLE TOTALS
IMPACT LIBRARY PATHS PERCENT COMMUNICATIONS
MITIGATION & TRAILS FOR ART DEVELOPMENT 1993 1992
$ 1,468,868 $ 996,907 $ 0 $ 0 $ 0 $10,211,818 $ 12,846,617
0 0 0 0 0 46,458 24,050
0 0 3,320 0 0 1,233,319 1,316,770
0 13,514 0 0 0 679,460 608,904
0 16,787 0 0 0 16,787 17,306
258,585 11,576 367 1,216 12,019 335,032 251,715
0 2,308 0 0 0 382,998 423,557
$ 1,727,453'" $ 11041,1192 $ 3,687 $ 1,216> $ 1,2 Q19 . :512,A05 872 S 15,488,91:Wi.i
$ 0 $ 0 $ 0 $ 0 $ 0 $ 1,295,576 $ 1,397,940
8,506 0 0 0 0 2,937,977 3,074,076
0 0 0 0 0 626,724 596,874
0 977,056 0 0 0 4,603,052 4,291,090
832 0 0 0 1,726 189,264 4,544,283
$ 9,33&; :S 977,056 $ 0 $ 0' $ 11726 $ 9,d5 ;593 13;9U4,Z63 ;
$ 1,718,115 $ 64,036 $ 3,687 $ 1,216 $ 10,293 $ 3,253,279 $ 1,584,656
$ 0 $ 0 $ 0 $ 0 $ 0 $ (400,000) $ 0
0 0 0 0 0 0 741,238
(232,688) 0 0 0 (120,500) (692,688) (4829575)
$ (232,688) $ 0 $ 0 $ 0 $ (120,500) $(1,092,688) S 258,60;:
$ 1,485,427 $ 64,036 $ 3,687 $ 1,216 $ (110,207) $ 2,160,591 $ 1,843,319
4,594,381 272,613 15,204 37,817 293,325 6,093,841 4,250,522
0 0 0 0 0 (4,761) 0
0 0 0 0 0 60,000 0
$ 6,079,808 $ 336,649' $ 18,891 $ , 39,033 $ 183,118 $' 8,309,671 $' 6,093,841
45
City o1 Renton 1993 CAFR
SPECIAL REVENUE FUNDS Page 1 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL ,
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
PARK r
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL ,
REVENUES
Taxes .............................................. $ 4,913,000 $ 4,894,914 $ (18,086) $ 4,643,733
Licenses And Permits ............................... 0 0 0 0
IntergoverrvnentaL Revenues ......................... 0 0 0 0
Charges For Services ............................... 511,755 600,536 88,781 537,830 '
Fines And Forfeits ................................. 0 0 0 0
Interest ........................................... 6,000 21,276 15,276 5,822
Miscellaneous Revenues ............................. 394,788 378,943 (15,845) 415,549
TOTAL REVENUES .......... ..I . $ >'S,825,:5.43" $ 70,1Zfr < 3 5,602{934;:;
$. 5:895,669"
EXPENDITURES
Current:
General Government ............................... $ 1,470,508 $ 1,295,576 $ 174,932 $ 1,397,940 ,
Transportation ................................... 143,514 135,513 8,001 137,948
Economic Environment ............................. 464,901 484,105 (19,204) 448,178
Culture and Recreation ........................... 3,921,905 3,625,996 295,909 3,521,022
Capital Outlay 38,305 33,090 5,215 15,035
TOTAL EXPENDITURES ...................< ...... ........'. $ >6,039,133 $ 5,574.;280 $ 464,853 20123
EXCESS (DEFICIENCY) OF REVENUES ,
OVER EXPENDITURES .................................... $ (213,590) $ 321,389 $ 534,979 $ 82,811
OTHER FINANCING SOURCES (USES) '
Interfund Loan Repayments .......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (Out) ... 0 (60,000) (60,000) (16,600) ,
TOTAL OTHER FINANCING5QIIRCES (USES) $ 0 $ C6Q. QQO) $
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (213,590) $ 261,389 $ 474,979 $ 66,211 ,
FUND BALANCE JANUARY 1 ............................... 342,758 314,033 (28,725) 247,822
Residual Equity Transfers (Out) .................... 0 0 0 0 ,
Prior Period Corrections 0 60,000 60,000 0
FUND $AEANCE`DECEMBER 31 $ 129,168 $ 635,422 $ 506,254
46
City of Renton 1993 CAFR
Page 2 of 7
ARTERIAL,STREET STREET
.. VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 0 $ 0 $ 0 $ 2,594,000 $ 2,851,129 $ 257,129 $ 1,923,301
0 0 0 0 14,000 46,458 32,458 24,050
373,769 310,514 (63,255) 378,406 723,380 680,620 (42,760) 716,766
0 0 0 0 65,811 65,410 (401) 56,425
0 0 0 0 0 0 0 0
2,000 2,475 475 1,913 10,000 27,518 17,518 18,390
0 0 0 0 0 1,747 1,747 6,374
$ 375;?69 S 312,989 S: X62;;780}.- 380 319 S 3,407;747 5 3,672r88� : .:S 265,691 $. 2:74530&.
r
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
49,770 0 49,770 43,961 3,396,942 2,793,958 602,984 2,842,568
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 30,900 57,370 (26,470) 33,805
$ 49,770 $ 0 $ 49,770 $ 43,961 S 3,427842 $ 2,85.1:;328 $ 576,514 <I $ 2;876,373:
$ 325,999 $ 312,989 $ (13,010) $ 336,358 $ (20,651) $ 821,554 $ 842,205 $ (131,067)
$ 0 $ 0 $ 0 $ 0 $ (400,000) $ (400,000) $ 0 $ 0
0 0 0 0 0 0 0 0
(330,000) (279,500) 50,500 (340,000) 0 0 0 0
$ (330,000) $ (279,500) S 50,500 $ (340,000) Si (4QQ:OOQ . :;5. . (400,000)`:5 0 $ D ''
$ (4,001) $ 33,489 $ 37,490 $ (3,642) $ (420,651) $ 421,554 $ 842,205 $ (131,067)
38,778 46,171 7,393 49,813 510,188 520,297 10,109 651,364
0 0 0 0 0 (4,761) (4,761) 0
0 0 0 0 0 0 0 0
$ 34,777 S 79,660 $ 44,,883 <S 46,;171 S: $9;537 $ 937,090 >S 847 553 S . .520,247:
47
City of Renton 1993 CAFR
SPECIAL REVENUE FUNDS Page 3 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES, '
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, uith.Comparative Actual
Totals for Year Ended December 31, 1992
COMM DEVELOPMEKT.:BLOCI(:'GRAHTS '
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 S 0 S 0 S 0 ,
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 531,810 238,865 (292,945) 218,021
Charges For Services ............................... 0 0 0 0 '
Fines And Forfeits ................................. 0 0 0 0
Interest ........................................... 0 0 0 0
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES ',.. ........:;....-......
.. ........ : ... 218,OZ1;;
EXPENDITURES
Current:
General Government ............................... $ 0 $ 0 $ 0 S 0 '
Transportation ................................... 0 0 0 0
Economic Environment ............................. 168,151 142,619 25,532 148,696
Culture and Recreation ........................... 0 0 0 0
Capital Outlay ..................................... 290,065 96,246 193,819 69,325
TOTAL. EXPENDITURES .....:....._ $ 458,216 $ 238,865 S 219,351 S 218,02,1 '
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 73,594 $ 0 $ (73,594) $ 0
OTHER FINANCING SOURCES (USES) '
Interfund Loan Repayments .......................... S 0 $ 0 $ 0 S 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (out) .. ...... .. ... 0 0 0 0 ,
TOTAL 'OTHER FINANCING SOURCES;LUSES) $ 0 $ 0 $ 0 S 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 73,594 $ 0 $ (73,594) $ 0 ,
FUND BALANCE JANUARY 1 ............................... (49,819) 0 49,819 0
Residual Equity Transfers (Out) ............ 0 0 0 0
Prior Period Corrections ................... 0 0 0 0
,775 $3FUND BALANCEDECEMBER 31 23
S
48
r
City of Renton 1993 CAFR
10
Page 4 of 7
IMPACT.M.I7IGATTON .... ......:.
RY
_...
rr
VARIANCE - VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 $ 1,468,868 $ 1,468,868 $ 5,394,583 S 950,000 $ 996,907 $ 46,907 S 885,000
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 13,100 13,514 414 14,649
0 0 0 0 14,200 16,787 2,587 17,306
100,000 258,585 158,585 191,482 5,000 11,576 6,576 13,965
0 0 0 0 1,000 2,308 1,308 1,634
$ 100,000 $ '1,727,453 $ > 11627,453 S 5,586 065 ; ,S 983;3A0 ,;;51,041,092' $' 57,792 $ 932,554
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
2,467,910 8,506 2,459,404 49,599 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 1,008,644 977,056 31,588 770,068
1,891,458 832 1,890 626 4,264,144 0 0 0 159,810
$ 4,35.:9,368 S ...... : 9;338(: 3...;4,350.;030 .,;; .:4',313,743....;.5,1,008,644 1:.....977,D56 . S 31,588 .::3: 929,878;;
$ (4,259,368) S 1,718,115 $ 5,977,483 $ 1,272,322 S (25,344) $ 64,036 S 89,380 S 2,676
$ 0 $ 0 $ 0 $ 0 0 $ 0 $ 0 $ 0
0 0 0 741,238 $ 0 0 0
0 (232,688) (232,688) (58,088) 0 0 0 0
$ 0 $ (232,688) S (232,688) $ 683,150 $ 0 S 0 .
$ (4,259,368) $ 1,485,427 S 5,744,795 $ 1,955,472 $ (25,344) $ 64,036 $ 89,380 S 2,676
4,513,862 4,594,381 80,519 2,638,909 276,239 272,613 (3,626) 269,937
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
$ 254,494 $ 6,;079,.808 $ '''5,825;314 S 4,594',381 S. 250;895 S .336:,649 $ 85,754 $ 272,613
49
City of Renton 1993 CAFR
SPECIAL REVENUE FUNDS Page 5 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES, '
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
;PATHS:XNO TRAILS: ;:::...;
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES '
Taxes .............................................. $ 0 $ 0 S 0 $ 0
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 3,500 3,320 (180) 3,577
Charges For Services ............................... 0 0 0 0 ,
Fines And Forfeits ................................. 0 0 0 0
Interest ........................................... 350 367 17 436
Miscellaneous Revenues 0 0 0 0
TOTAL REVENUES $ 3;850 $ 3687 $ 0163): $. 4OI3;
EXPENDITURES
Current:
General Government ............................... $ 0 S 0 S 0 S 0
Transportation ................................... 0 0 0 0
Economic Environment ............................. 0 0 0 0
Culture and Recreation ........................... 0 0 0 0
Capital Outlay 0 0 0 0
TOTAL EXPENDITURES .... --= •-- -.....r. $ ; 0 $ 0 s. ... ....
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 3,850 $ 3,687 $ (163) S 4,013
OTHER FINANCING SOURCES (USES) ,
Interfund Loan Repayments .......................... $ 0 S 0 $ 0 S 0
Operating Transfers In ..... ... .. 0 0 0 0 ,
Operating Transfers (Out) .... .... .. 0 0 0 0
TOTAL OTHER FINANCING'SOURCES''(USES) $ 0 $ 0 $ 0 $ 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ 3,850 $ 3,687 $ (163) S 4,013
FUND BALANCE JANUARY 1 ............................... 15,204 15,204 0 11,191
Residual Equity Transfers (Out) 0 0 0 0 M
Prior Period Corrections 0 0 0 0
FUNO;.BA ANCE'DECEMBER 31 ...... ...... ...... ........ $ 19,054 $;f 1,8;891 S (163)::: 3 15,204''
50
r
Crry of Renton 1993 CAFR
ow
Page 6 of 7
r
L .......................... .PABE::C( MUNLCTION.ONE: ; :CERCEJtFOR ART .. .:; A
VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
S 0 S 0 $ 0 $ 0 S 850 S 0 S (850) $ 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
1,500 1,216 (284) 1,526 10,000 12,019 2,019 18,181
0 0 0 0 0 0 0 0
$ 1,500 S 1,216 $ )(284) $ 1,526 $ 10,850 $ 12,019 $ 1,169 $ 18,181:
$ 0 $ 0 S 0 S 0 S 0 $ 0 S 0 S 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0. 0 0 0 0 0
39,157 0 39,157 2,164 2,000 1,726 274 0
0 000` 5.:.::::::::::::>:::>
S 39'157 S 64°:::>::: ::»».2 :::>:::::`':#;726......:?:::::::::;::::>:' ;':274 ..... . ..................0..
S (37,657) S 1,216 S 38,873 S (638) S 8,850 S 10,293 S 1,443 S 18,181
L
S 0 $ 0 S 0 $ 0 $ 0 $ 0 S 0 $ 0
0 r 0 0 0 0 0 0 0
0 0 0 0 (120,500) (120,500) 0 (67,887)
0 S 0 $(120,500) S (120,500) 'S 0 S (67,887)
$ (37,657) $ 1,216 $ 38,873 $ (638) $(111,650) $ (110,207) $ 1,443 $ (49,706)
a 37,817 37,817 0 38,455 286,924 293,325 6,401 343,031
00 0 0 0 0 0 0
0 0 0 0 0 0 0 0
S 160 "'S 39,033 S 38,873 S 37,817 :$.:::::1750274 $ 183:,118 S 7,844 .; S 291325'
L
L
51
City of Renton 1993 CAFR
SPECIAL REVENUE FUNDS Page 7 of 7
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL ,
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
TOTALS
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 8,457,850 $ 10,211,818 $ 1,753,968 $12,846,617
Licenses And Permits ............................... 14,000 46,458 32,458 24,050
Intergovernmental Revenues ......................... 1,632,459 1,233,319 (399,140) 1,316,770
Charges For Services ............................... 590,666 679,460 88,794 608,904
Fines And Forfeits ................................. 14,200 16,787 2,587 17,306
Interest ........................................... 134,850 335,032 200,182 251,715
Miscellaneous Revenues ............................. 395,788 382,998 (12,790) 423,557
7� 9052 166 (593548$ 4I9TOTALREVENUES . : :
.. 2
EXPENDITURES
Current:
General Government ............................... $ 1,470,508 $ 1,295,576 $ 174,932 $ 1,397,940
Transportation ................................... 6,058,136 2,937,977 3,120,159 3,074,076 '
Economic Environment ............................. 633,052 626,724 6,328 596,874
Culture and Recreation ........................... 4,930,549 4,603,052 327,497 4,291,090
Capital Outlay ........ 2,291,885 189,264 2,102,621 4,544,283 1
TOTAL EXPENOTTURES' ................................... $ ',15,384,130 $ 9,652,593 $ 5;731,537
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (4,144,317) $ 3,253,279 $ 7,397,596 $ 1,584,656
OTHER FINANCING SOURCES (USES)
Interfund Loan Repayments .......................... $ (400,000) $ (400,000) $ 0 $ 0
Operating Transfers In ............................. 0 0 0 741,238
Operating Transfers (Out) .... ...... .. ... (450,500) (692,688) (242,188) (482,575)
TOTAL OTHER FINANCtkG SOURCES (USES) $ (850,500) (242,188)>
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (4,994,817) $ 2,160,591 $ 7,155,408 $ 1,843,319 ,
FUND BALANCE JANUARY 1 ............................... 5,971,951 6,093,841 121,890 4,250,522
Residual Equity Transfers (Out) 0 (4,761) (4,761) 0
Prior Period Corrections .. 0 60,000 60,000 0
FUNO.BALANCE DECEMBER 311 .............. 9k 977,;734 $`` 8,309.,671 ;; t 7,332,537
i
i
1
1
52
s Ciry,of Renton 1993 CAFR
r
DEBT SERVICE FUNDS
Debt Service Funds account for the accumulation of resources for, and
the payment of principal and interest for the City's general obligation
long term debt and special assessment debt. The City of Renton
pledges its full faith and credit for payment of these obligations.
Resources for redemption of council-approved (limited) issues are
from the general property tax levy. Revenue for voter-approved
(unlimited) debt service obligations originates from a special property
tax levy. Resources for the payment of the special assessment debt
are from assessments levied against benefited properties. The
outstanding amount is recorded in the General Long Term Debt
Account Group.
ow
1978 LIMITED GENERAL OBLIGATION BOND REDEMPTION FUND
-Accounts for debt service on a Council-approved bond issue, which
provided partial funding for construction of the Renton Senior Citizens'
r Center.
1989 LIMITED GENERAL OBLIGATION REFUNDING BOND
REDEMPTION FUND - Accounts for debt service on a Council-
approved refunding bond issue, which refunded the 1983 limited
refunding bond issue.
1983 UNLIMITED GENERAL OBLIGATION REFUNDING BOND
REDEMPTION FUND - Accounts for debt service on an unlimited
refunding bond issue, which refunded the 1980 and 1982 voter-
approved bond issues. Bond proceeds financed the development of
Gene Coulon Memorial Beach Park.
GENERAL GOVERNMENT MISCELLANEOUS DEBT SERVICE
FUND - Accounts for debt service on installment contracts for
equipment, City Shop land purchase, the 1984 and 1985 Limited
General Obligation Bond issues for equipment, and the 1986 Limited
., Bond issued to finance a community center, library improvements,
permanent financing for purchase of a golf course, acquisition of
wetlands property, and equipment.
„W 1989 UNLIMITED GENERAL OBLIGATION BOND REDEMPTION
FUND - Accounts for debt service on a voter-approved bond issue,
which provided financing to acquire, construct, rehabilitate, equip and
develop low income housing for the elderly.
SPECIAL ASSESSMENT DEBT FUND - This fund accounts for the
special assessment collections and debt service payments for all local
improvement districts located within the City.
SPECIAL ASSESSMENT GUARANTY FUND - This fund was
established in accordance with State law for the purpose of
guaranteeing the payment of outstanding Special Assessment Bonds
and coupons.
1!
53
ap
City of Renton 1993 CAFR
Page 1 of 2
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992 1989 LIMITED 1983 UNLIMITED 40
1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS BONDS BONDS
ASSETS:
Cash and Cash Equivalents ........................ $ 64,611 $ 64,474 $ 586,592 r
Cash With Fiscal Agent 412 0 207,510
...........................
0 0 0
Investments
...........................
Receivables: 38,232
Taxes ................................ 0 0
Special Assessments Current ..................
Special Assessments Delinquent 0 0 0
0 0 0
Special Assessments Deferred ................. ,
Interest - Special Assessments ................. 0 0 0
Interest on Investments .. 0 0 0
0 0 7,611
Due From Other Funds .............................
TOTAL ASSETS .. $
65,023 $ 64,474 $ 839,945 '
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Vouchers/Contracts Payable ..................... $ 0 $ 0 $ 0
Matured Bonds Payable .......................... 0 0 0
Matured Interest Payable ....................... 412 0 207,510
Deferred Revenues .............................. 0 0 38,232
TOTAL>LIABILTTIES $ 412 $ 0 $ 245,742
..
FUND EQUITY:
Fund Balance:
Reserved For Debt Service .................... $ 64,611 $ 64,474 $ 594,203
TOTAL FUND EQUITY .. $ 64,611 S 64,474 $ 594,203
TOTALLIABILITIES AND FUND EQUITY $ 65,023 S 64,474 $ 839,945
r
,.f
54
City of Renton 1993 CAFR
Page 2 of 2
GENERAL GOVERNMENT
SPECIAL SPECIAL 76.T..ALS
.. MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1993 1992
$ 226,654 $ 331,731 $ 369,548 $ 143,009 S 1,786,619 $ 1,581,895
0 0 40,000 0 247,922 66,280
0 0 1,580,379 480,000 2,060,379 2,205,000
0 27,436 0 0 65,668 43,902
0 0 1,055 0 1,055 606
0 0 91,695 0 91,695 87,984
0 0 5,017,412 0 5,017,412 3,787,952
0 0 67,102 0 67,102 10,615
0 0 40,410 19,537 59,947 45,714
3,187 4,968 0 0 15,766 20,668
S 229,841 $ 364,135 $ 9,413;56
$ 1,620 $ 0 $ 0 $ 0 $ 1,620 S 0
0 0 40,000 0 40,000 55,000
0 0 0 0 207,922 11,280
0 27,436 5,017,412 0 5,083,080 3,831,854
$ 1,620 $ 27`436 lr....3. 848,134
$ 228,221 $ 336,699 $ 2,150,189 $ 642,546 $ 4,080,943 $ 3,952,482
$ 228,221 $ 336,699 $ 2,150,189 $ 642,546 $ 4,080,943'' $ 3,952,482._
$ 229,841 $ 364,135 $ 7,207,601 s $ 642,546 $ 9,4,13,565 $ 7,850,616
55
City of Renton 1993 CAFR
DEBT SERVICE FUNDS Page 1 of 2 '
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
1989 LIMITED 1983 UNLIMITED
1978 LIMITED GO REFUNDING GO REFUNDING
GO BONDS BONDS BONDS '
REVENUES
Taxes .............................................. $ 76,636 $ 297,138 $ 826,049 ,
Special Assessments ................................ 0 0 0
Interest 1,047 1,980 9,087
TOTAL REVENUE::. .....- --••- .._.... .. $ TI 683 a 249,138::: ">:;5 .835,{36::
EXPENDITURES
Debt Service: '
Principal Retirement ............................. $ 55,000 $ 145,000 $ 370,000
Interest 8 Fiscal Charges ........................ 19,502 143,449 337,105
TOTAL.EXPENDITURES ';. ..... ....... ...... ...... ... $!' 74,502 $ >' 288,449 $ 707,105 '
EXCESS (DEFICIENCY) OF REVENUES ,
OVER EXPENDITURES .................................... $ 3,181 $ 10,669 $ 128,031
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 4,660,000
Operating Transfers (Out) .......................... 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 (4,582,777)
FUND BALANCE JANUARY 1 ............................... 61,430 53,805 388,949
Residual Equity Transfers In ............. 0 0 0 ,
Residual Equity Transfers Out ............ 0 0 0
FUND BALANCE DECEMBER 31 . $i! 64,611 $ b4,474 g.;i 594,203''
56
City of Renton 1993 CAFR
Page 2 of 2
GENERAL GOVERNMENT SPECIAL SPECIAL TOTALS
MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 1993 1992
$ 852,102 S 539,715 $ 0 $ 0 S 2,591,640 $ 2,489,973
0 0 888,498 0 888,498 1,739,087
4 720 3,289 144,769 31 530 196,422 742,241
S 543,004 " 3 I,033j,267 676,560 :: :: *971,301
$ 541,160 $ 165,000 $ 571,000 S 0 S 1,847,160 $ 2,106,341
362,892 441,267 335,428 0 1,639,643 1,769,750
S 904,052 S 606,267 $I' 906,428 S 0 S 3,486,803.;. ;:876,0911
$ (47,230) $ (63,263) $ 126,839 S 31,530 $ 189,757 $ 1,095,210
$ 2,086,750 S 4,270,000 $ 0 S 0 $ 11,016,750 $ 0
0 0 0 (303,342) (303,342) 0
(2,047,603) (4,169,030) 0 0 (10,799,410) 0
236,304 298,992 2,130,006 782,996 3,952,482 2,857,272
0 0 24,706 131,362 156,068 0
0 0 (13t 362) 0 (131,362) 0
$ 228; 21 S 336;644 $I 2,150;184 S 642,546.
57
City oJRenton 1993 CAFR
DEBT SERVICE FUNDS Page 1 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
. ... ..
f;.,::: .:..: :: ....:1 .. .
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 76,635 $ 76,636 $ 1 $ 79,445
Special Assessments ................................ 0 0 0 0
Interest 500 1,047 547 751
TOTAL RI 1I NllES ... ....................... $ 77,135 3 77,6$3 $ 548 .> $
EXPENDITURES
Debt Service:
Principal Retirement $ 55,000 S 55,000 $ 0 $ 55,000
Interest 8 fiscal Charges .. 19,414 19,502 (88) 22,288
TOTAL EXPENDITURES:::.
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 2,721 $ 3,181 S 460 $ 2,908
Proceeds Of Long-Term Debt ......................... S 0 $ 0 S 0 $ 0
Operating Transfers (Out) .......................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0 0
FUND BALANCE JANUARY 1 ............................... 61,430 61,430 0 58,522
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) 0 0 0 0
....................
FUND. BALANGI .DEGEMeER 31:;; ...........x/. 151 $ ' 64,611 >S 460
1
58 r
LCity of Renton 1993 CAFR
L
Page 2 of 6
L
1484"Li#IL:TEp GENERAL OBLIGATION REFUNDING:BOND 1:983 UNL941fED GENERAL::UBL GATIOW. FUNDINOim :BOND
VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
S 297,138 $ 297,138 $ 0 $ 301,641 $ 847,116 S 826,049 $ (21,067) S 691,302
0 0 0 0 0 0 0 0
500 1,980 1,480 247 24,000 9,087 (14,913) 13,684
S297;638 '"$ 299,118 $ 1,480 $ 301,888 S 871.136 £ :;5;;:.:;835 136:: ..S (35,980) $ f986:?
$ S $ $
$ 145,000 $ 145,000 $ 0 $ 130,000 $ 370,000 S 370,000 $ 0 S 345,000
143,165 143,449 (284) 154,953 508,790 337,105 171,685 475,853
$ 288 165 ;:288449 S 1284)
S 9,473 S 10,669 S 1,196 $ 16,935 $ (7,674) $ 128,031 $ 135,705 S (115,867)
S 0 S 0 $ 0 $ 0 $ 4,385,000 S 4,660,000 S 275,000 S 0
0 0 0 0 0 0 0 0
0 0 0 0 (4,612,295) (4,582,777) 29,518 0
53,805 53,805 0 36,870 385,389 388,949 3,560 504,816
0 0 0 0 0 0 0 0
r 0 0 0 0 0 0 0 0
949.:.
r
ow
1r
r
r
Im
59
r
City of o Renton 1993 CA FR
DEBT SERVICE FUNDS Page 3 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL '
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
GENERAL GOVERNMENT MISCELLANEOUS DEBT_
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. S 866,699 S 852,102 $ (14,597) S 873,268
Special Assessments ................................ 0 0 0 0
Interest 1,500 4,720 3,220 2,645
TOTAL REVENUES S ':868,399 $ 856,822 S +11,377 SCS :875,1913'
EXPENDITURES
Debt Service:
Principal Retirement ............................. S 565,017 S 541,160 $ 23,857 S 438,341
Interest & Fiscal Charges 415,891 362,892 52,999 340,768
TOT` XPEND TUR S
_ 1 E_ ,.<..:.....,...::�<«
Ah :;;:>;
t:
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (112,709) $ (47,230) $ 65,479 $ 96,804
Proceeds Of Long-Term Debt ......................... $ 4,390,000 $ 2,086,750 $(2,303,250) $ 0 ,
Operating Transfers (Out) .......................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... (1,975,144) (2,047,603) (72,459) 0
FUND BALANCE JANUARY 1 ......... .. ... .. 220,537 236,304 15,767 139,500
Residual Equity Transfers In .. ... .. 0 0 0 0
Residual Equity Transfers (Out) ...................... 0 0 0 0
FUNp:I3ALANG$ DECEMBERi 34;..: :..,..: ............ ;: '.52
60 '.
r
City of Renton 1993 CAFR
r
Page 4 of 6
r
198NLIIti:TEE?:GENERI4L 66LIGATft?N BOND SPECIAL-:ASSESSMENT DEBt SERViC&::FlUND
...........__....... ..........
VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 553,010 S 539,715 $ (13,295) $ 544,317 $ 0 $ 0 S 0 $ 0
0 0 0 0 1,087,440 888,498 (198,942) 1,739,087
5,000 3,289 (1,711) 3,349 50,000 144,769 94,769 675,531
$ 558,010 $ 543,004 S (15,006)) $ 54iF�.6fi6: S 1,137,440 $ 1,033,267 $ (:104:-:-173) $::2::41 6 8....
$ S $ $ $
$ 165,000 $ 165,000 $ 0 S 155,000 $ 581,000 $ 571,000 $ 10,000 S 983,000
440,821 441,267 (446) 361,816 345,630 335,428 10,202 414,072
$ 605:621 $ 606',267 $ c446 .1: `::516 $16: t :.:.926 63a $ 906,42$ $ 20,202 39x':07
$ (47,811) $ (63,263) S (15,452) $ 30,850 S 210,810 $ 126,839 $ (83,971) $ 1,017,546
$ 3,775,000 $ 4,270,000 $ 495,000 $ 0 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
(4,204,342) (4,169,030) 35,312 0 0 0 0 0
296,864 298,992 2,128 268,142 2,004,507 2,130,006 125,499 1,112,460
0 0 0 0 0 24,706 24,706 0
0 0 0 0 0 (131,362) (131,362) 0
"$ 336 699 » z 5:16 988 $ 24$942::.. .1r,:2::2tS 31:7.. . $ 2,150,189
1r
61
City I
o Renton 1993 CAFR '
I
DEBT SERVICE FUNDS Page 5 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
SPECIAL:_ASSESSMENT GUARANTYiFUND
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 S 0 $ 0
Special Assessments ................................ 0 0 0 0
Interest35,000 31,530 (3,470) 46,034
...........................................
TOTAL REVENUES ....................................... $ 35x000.:: S 31,530 $ (3,470) $ 46,034'
EXPENDITURES
Debt Service:
Principal Retirement $ 0 $ 0 $ 0 $ 0
Interest & Fiscal Charges 0 0 0 0
AI.:.EXPENDITUREs ..... S 0 S 0
TOT.
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ 35,000 $ 31,530 $ (3,470) S 46,034
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 $ 0 $ 0
Operating Transfers (Out) .......................... (303,342) (303,342) 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0 0
FUND BALANCE JANUARY 1 ............................... 764,363 782,996 18,633 736,962
Residual Equity Transfers In ....................... 0 131,362 131,362 0
Residual Equity Transfers (Out) .................... 0 0 0 0
FU.Np BALANCE:pEGEMBER 31 ............................. $ 496,021 $ '642,546 $ 146,525 $ 782,94t :<
I
1
62 '
Ciry ojRen(on 1993 CAFR
Page 6 of 6
TOTALS
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 2,640,598 S 2,591,640 $ (48,958) $ 2,489,973
1,087,440 888,498 (198,942) 1,739,087
116,500 196,422 79,922 742,241
$ 3,844,538 $ 3,676;560 $ ;1167,9781 S 4,971,301'
r�
S 1,881,017 S 1,847,160 $ 33,857 $ 2,106,341
1,873,711 1,639,643 234,068 1,769,750
.a x,754;728 $ 3;;486;8031 $ 267,925 $ 3,87b,.09?i::::
$ 89,810 $ 189,757 $ 99,947 $ 1,095,210
$ 12,550,000 $ 11,016,750 $(1,533,250) $ 0
(303,342) (303,342) 0 0
(10,791,781) (10,799,410) (7,629) 0
3,786,895 3,952,482 165,587 2,857,272
0 156,068 156,068 0
0 (131,362) (131,362) 0
$ 5,331,582 $ 4;080,943 $(1;250,639) $ >3,952,482>
63
1
1
1
1
1
1
1
i
City of Renton 1993 CAFR
CAPITAL PROJECT FUNDS
Capital Project Funds account for the acquisition or development of
major capital facilities, except those projects financed by proprietary
r funds. Sources of revenue to these funds include general obligation
bond proceeds, federal and state grants, general property taxes,
interest earnings, and transfers from other funds.
r OPEN SPACE CAPITAL IMPROVEMENT FUND-Accounts for open
space bond funds received from King County and other grants for the
purpose of preserving open space. The bond funds were approved by
voters in the fall of 1989 and available for use in May, 1990. Some of
the projects are: Honey Creek Trail, Springbrook Trail, Cedar River
~ Trail and Lake Washington Waterfront projects.
MUNICIPAL FACILITIES CONSTRUCTION FUND -Accounts for the
acquisition and development of municipal facilities. Resources
Ow included general and special revenue taxes and Council approved
general obligation bonds.
GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND -
Ow Accounts for revenues and expenditures for numerous capital
improvement projects, to provide infrastructure necessary for
controlled growth and to address general City needs. Primary
resources include general tax revenues, business license fees,
Federal and State grants, general obligation bond proceeds, and
transfers from various cumulative reserve funds.
SENIOR HOUSING CONSTRUCTION FUND - Accounts for the
acquisition, construction, rehabilitation, development, and equipment
purchases of low income housing and facilities for the elderly.
Resources are from a 1989 voter-approved general obligation bond
issue.
SPECIAL ASSESSMENT CONSTRUCTION FUND - This fund
accounts for the construction phase of all Special Assessment local
improvement districts (LID) located within the City. The primary
resource for this activity is short-term debt or interfund loans which are
repaid with permanent financing once the construction of the LID is
complete.
1
I
1
1
i
05
r
City of Renton 1993 CAFR
CAPITAL PROJECT FUNDS Page 1 of 2
COMBINING BALANCE SHEET ,
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992 OPEN SPACE MUNICIPAL SENIOR
CAPITAL FACILITIES CAPITAL HOUSING
IMPROVEMENT CONSTRUCTION IMPROVEMENT CONSTRUCTION
ASSETS:
Cash and Cash Equivalents ........................ $ 347,395 $ 305,205 $ 1,173,182 $ 239,536
150,000 1,771,620 4,641,797 70,000
Investments ......................................
Receivables:
Interest on Investments 591 24,730 182,337 319
Due From Other Funds ...... 292 3,850 0 0
Due From Other Governmental Units 2,005,334 0 289,378 0
TOTAL A'$StTS . ,S 2,503 612 $ ',2,105,405 $ 6,286,694 $ 309,855::;:
LIABILITIES AND FUND EQUITY: ,
LIABILITIES:
Vouchers/Contracts Payable ..................... $ 564 $ 7,129 $ 64,043 $ 0
Retainage Payable .............................. 0 0 0 0
Due To Other Funds ............................. 1,550 0 274,814 292 '
Deferred Revenues .............................. 1,659,638 0 0 0
Accrued EmpLoyee Leave Benefits .... 108 0 0 0
TOTAL LIABILITIES .................................. $ '1,661,860 $ 7,i129 $ 338;857 S 2921'
FUND EQUITY
Fund Balance:
Reserved For Arbitrage Rebate ......... $ 0 $ 0 $ 44,675 $ 355,414
Unreserved - Undesignated ................... 841,752 2,098,276 5,903,162 (45,851)
TOTAL 'FUND''EQUCTY .. $ 841' 752 $ 2,098,276 $ 5,947,a37 $ 309 563;
TOTAL''LIABILITIES'AND FUND EQUITY .. $ 2,503,612 $ 2,105,405 $ 6,286,694 $ 309,855;
66
City of Renton 1993 CAFR
Page 2 of 2
TOTALS
1993 1992
$ 2,065,318 $ 3,107,585
6,633,417 6,882,103
207,977 114,359
4,142 15,604
2,294,712 323,858
10,443,5Q4
$ 71,736 $ 531,527
0 58,534
276,656 15,080
1,659,638 1,685,107
108 105
$; 2,008,138 >$ 2290,353>
$ 400,089 $ 330,995
8,797,339 7,822,161
$'I 9,197,428 $ 8,153,156
$' 11,205,566 S 10,443,509
Ow
67
City of Renton 1993 CAFR ,
CAPITAL PROJECT FUNDS Page 1 of 2
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 1993 ,
With Comparative Totals for Year Ended December 31, 1992
OPEN SPACE MUNICIPAL
CAPITAL FACILITIES CAPITAL '
IMPROVEMENT CONSTRUCTION IMPROVEMENT
REVENUES
Taxes .............................................. S 0 $ 364,489 $ 0 '
Licenses And Permits ............................... 0 73,000 1,680,614
Intergovernmental Revenues ......................... 3,432,995 0 944,361
Charges For Services ............................... 0 0 1,344
Interest ........................................... 71,994 59,650 94,684
Miscellaneous Revenues ............................. 0 0 0
TOTAt :REVENUES :r':: $ (M98gS 497,139; S .2721ME13;
EXPENDITURES ,
Current:
General Government ............................... S 0 $ 0 $ 0
Transportation ................................... 0 0 1,831,611
Culture and Recreation ........................... 0 25,000 0
Capital Outlay ..................................... 3,368,784 139,316 0
Debt Service:
Interest & Fiscal Charges ........................ 0 5,364 0
ICTAL :EXPENDITURES ..>:
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... S 136,205 $ 327,459 S 889,392
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 0 $ 0 S 0
Interfund Loan Proceeds ............................ 700,000 0 0
Operating Transfers In ............................. 0 472,842 512,188
Operating Transfers (Out) .......................... 0 0 0
Sale Of General Fixed Assets ....................... 0 101,000 0
Funds Remitted to Bond Trustee ... 0 0 0
TOTAL OTHER ftNANC;NG<SWRCES (USES) ..,.. 004
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ S 836,205 $ 901,301 S 1,401,580 ,
FUND BALANCE JANUARY 1 ............................... 5,547 1,196,975 4,546,257
Residual Equity Transfers In ................... 0 0 0
Residual Equity Transfers Out ................... 0 0 0
FUND BALANCE' DECEMBER a31 ... S 841,752 ' $ 2,098,276:: S 5;947,837«
68 ,
City of Renton 1993 CAFR
Page 2 of 2
SENIOR SPECIAL TOTALS
HOUSING ASSESSMENT
CONSTRUCTION CONSTRUCTION 1993 1992
$ 0 $ 0 S 364,489 $ 548,285
w 0 0 1,753,614 2,077,755
0 0 4,377,356 1,478,111
0 0 1,344 527
11,065 (4,416) 232,977 311,318
18,720 0 18,720 1,826,868
S 29,785 $: {4jr►)6y 'S 6,748,500 $ 6,242,864
$ 0 S 0 $ 0 $ 37,165
0 5,818 1,837,429 2,805,009
0 0 25,000 0
415,092 0 3,923,192 6,467,816
0 128,630 133,994 200,520
45:;092 .; .:: 134448': $ ,.4;719,615 :i:$ 9,5r.1.0,510:
S (385,307) S (138,864) S 828,885 $ (3,267,646)
$ 0 S 1,654,063 $ 1,654,063 $ 1,051,050
0 0 700,000 0
0 0 985,030 727,666
0 0 0 (922,039)
0 0 101,000 0
0 (3,200,000) (3,200,000) 0
S 0 :;11,545937} :x ....:240,093 ;i $56;6771
$ (385,307) S (1,684,801) $ 1,068,978 $ (2,410,969)
694,870 1,709,507 8,153,156 10,564,125
0 0 0 746,675
0 (24,706) (24,706) (746,675)
30Q>563 $> 0 $ 9,197,428 $ "'8,153,156
69
Crry of Renton 1993 CAFR
CAPITAL PROJECTS FUNDS Page 1 of 4
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
>OPEI::SPAC E:CAP1:7Al:`:>tMPR0.VEMEH T.
VARIANCE
FAVORABLE 1992 ,
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes .............................................. $ 0 $ 0 $ 0 $ 0
Licenses And Permits ............................... 0 0 0 0
Intergovernmental Revenues ......................... 5,693,954 3,432,995 (2,260,959) 523,304
Charges For Services ............................... 0 0 0 0 ,
Interest ........................................... 0 71,994 71,994 2,078
Miscellaneous Revenues ............................. 0 0 0 0
TOTAL REVENUES ....................................... $ 5,693,954 $3 504,989 $ (2,188,965) $ 525;382;
EXPENDITURES
Current:
General Government ............................... $ 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0 ,
Culture and Recreation ........................... 0 0 0 0
Capital Outlay ..................................... 7,268,969 3,368,784 3,900,185 186,422
Debt Service:
Interest & Fiscal Charges0 0 0 0
........................
TOTAL EXPENDITURES:: ...4,1 . ...;>.....:......': ....: $ 186,422 '
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (1,575,015) $ 136,205 $ 1,711,220 $ 338,960
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt ......................... $ 2,300,000 $ 0 $ (2,300,000) $ 0
Interfund Loan Proceeds ............................ 0 700,000 700,000 0
Operating Transfers In ............................. 0 0 0 0 '
Operating Transfers (Out) .......................... 0 0 0 (333,413)
SaLe Of General Fixed Assets ....................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... (2,300,000) 0 2,300,000 0
TOTAL OTHER FINANCING SOURCES (USES;~ .::.; S. 0 i ?0O Q00 $ 700,000 ; ;F....:(333 413)'
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (1,575,015) $ 836,205 $ 2,411,220 $ 5,547
FUND BALANCE JANUARY 1 ............................... 1,575,015 5,547 (1,569,468) 0
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) .................... 0 0 0 0
FUND BALANCE DECEMBER 31 ..... $ 0 $ >841,752
70 '
it
City of Renton 1993 CAFR
Ir
Page 2 of 4
rll
. GAPIAL:.i:b19R0YEtF1?S
:: 11UN;1; 1 PXL. �4Ci C I7.i.E Y CONSRUCT1iNt;`:>:?':; ::: .......... .....::;,>:.::.:.
...............
rtr
VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 380,000 $ 364,489 $ (15,511) S 548,285 S 329,000 $ 0 $ (329,000) $ 0
73,000 73,000 0 0 1,678,000 1,680,614 2,614 2,077,755
75,000 0 (75,000) 0 2,337,605 944,361 (1,393,244) 954,807
0 0 0 0 1,000 1,344 344 527
0 59,650 59,650 20,379 10,000 94,684 84,684 68,542
3,893 0 (3,893) 7,058 0 0 0 40
S 531,893 $ 497,>139 $ (34,754) $ 575,722 $ 4,355,605 $ 2,721,003 $ (1';634,602) $ 3,101,671;:
$ 0 $ 0 $ 0 $ 37,165 $ 0 $ 0 $ 0 $ 0
0 0 0 0 8,714,809 1,831,611 6,883,198 1,591,042
25,000 25,000 0 0 0 0 0 0
1,725,768 139,316 1,586,452 1,309,169 0 0 0 0
26,919 5,364 21,555 20,381 12,108 0 12,108 0
$;' 1,777:1687 $ 169;680 S 1,608,007 $1,366,715 S 8,726,917 $ 1,831,611 $ 6 $9"s;306 S 1,5917;::..
.. $(1,245,794) $ 327,459 $ 1,573,253 $ (790,993) $(4,371,312) S 889,392 $ 5,260,704 $ 1,510,629
$ 0 $ 0 $ 0 $1,051,050 $ 0 $ 0 $ 0 $ 0
0 0 0 0 0 0 0 0
412,842 472,842 60,000 320,706 330,000 512,188 182,188 340,000
0 0 0 (177,395) 0 0 0 (411,231)
0 101,000 101,000 0 0 0 0 0
0 0 0 0 0 0 0 0
$' 412.;842 $ 573;842 $ 161,000 $1,194,361 " $ 330,000 ` $ 512,188 $ 182,:1;$8 $ 'I (71;231):
x. $ (832,952) $ 901,301 $ 1,734,253 $ 403,368 $(4,041,312) $ 1,401,580 $ 5,442,892 $ 1,439,398
1,175,183 1,196,975 21,792 46,932 4,265,833 4,546,257 280,424 3,853,534
«. 0 0 0 746,675 0 0 0 0
0 0 0 0 0 0 0 (746,675)
$ 342,231 $2,098;276 . 1,756,045 $1,196,975 $ 224,521 '' $ 5;947,837 ' $ 5;723,3;16 $ >4,546,257
71
Crry of Renton 1993 CAFR
CAPITAL PROJECTS FUNDS Page 3 of 4
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 1993, With Comparative Actual
Totals for Year Ended December 31, 1992
SEN.I:fNt 1t0USIF16 GONSCRUCTtON FUND
VARIANCE
FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL '
REVENUES
Taxes .............................................. S 0 $ 0 $ 0 $ 0 �.
Licenses And Permits ............................... 0 0 0 0
IntergovernmentalRevenues ......................... 0 0 0 0
Charges For Services ............................... 0 0 0 0 '
Interest ........................................... 0 11,065 11,065 200,459
Miscellaneous Revenues ............................. 18,000 18,720 720 5,000
TOTAL REVENUES ...................... .; X8,000 #....: 29,.7..855:` ':''.:`9'1,785 S 205-.4
e.........
EXPENDITURES ,
Current:
General Government ............................... S 0 $ 0 $ 0 $ 0
Transportation ................................... 0 0 0 0 ,
Culture and Recreation ........................... 0 0 0 0
Capital Outlay ..................................... 430,488 415,092 15,396 4,972,225
Debt Service:
Interest & Fiscal Charges 250,000 0 250,000 0
TOTAL EXPENDITURES ..... Zb5,396 S 4,972,225
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES .................................... $ (662,488) $ (385,307) $ 277,181 $(4,766,766)
OTHER FINANCING SOURCES (USES) '
Proceeds Of Long-Term Debt ......................... S 0 $ 0 $ 0 S 0
Interfund Loan Proceeds ............................ 0 0 0 0
Operating Transfers In ............................. 0 0 0 0
Operating Transfers (out) .......................... 0 0 0 0
Sale Of General Fixed Assets ....................... 0 0 0 0
Funds Remitted to Bond Trustee ..................... 0 0 0 0
TOTAL OTHER FINANCING SOURCES (USES.) S ;: ... ;`.0 ;.. 0 $
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES ................ $ (662,488) S (385,307) $ 277,181 $(4,766,766)
FUND BALANCE JANUARY 1 ............................... 676,536 694,870 18,334 5,461,636
Residual Equity Transfers In ....................... 0 0 0 0
Residual Equity Transfers (Out) .................... 0 0 0 0
FUND BALANCE DECEMBER'31 ......:.............: .. S 14,048 $'' :309361i::.'3 295,515
72 '
rr
City of Renton 1993 CAFR
L
Page 4 of 4
SSESSNENf:I±ONS7RUC7IQft.> UNt) ......... ....::..:..::::::.
............. .::70TXCS
VARIANCE VARIANCE
FAVORABLE 1992 FAVORABLE 1992
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
$ 0 S 0 $ 0 $ 0 $ 709,000 $ 364,489 $ (344,511) $ 548,285
0 0 0 0 1,751,000 1,753,614 2,614 2,077,755
0 0 0 0 8,106,559 4,377,356 (3,729,203) 1,478,111
0 0 0 0 1,000 1,344 344 527
0 (4,416) (4,416) 19,860 10,000 232,977 222,977 311,318
0 0 0 1,814,770 21,893 18,720 (3,173) 1,826,868
$ 0 $ (4,416) $ (4;416) $ 1,834,630 $ 10,'599,452 $ 6',748,500 S(3;$50,952? $> 6,2428"4
$ 0 $ 0 S 0 $ 0 $ 0 $ 0 $ 0 $ 37,165
40,524 5,818 34,706 1,213,967 8,755,333 1,837,429 6,917,904 2,805,009
0 0 0 0 25,000 25,000 0 0
1� 0 0 0 0 9,425,225 3,923,192 5,502,033 6,467,816
123,046 128,630 (5,584) 180,139 412,073 133,994 278,079 200,520
<3 163,570 $ 134,448 S 29,122 $ 1,394,106 $ 18,617,63111 $ 5>,9191615 $12,698,016 S' 9,510,510 '
rr
$ (163,570) $ (138,864) $ 24,706 S 440,524 $ (8,018,179) $ 828,885 $ 8,847,064 $ (3,267,646)
$ 1,654,063 S 1,654,063 $ 0 $ 0 $ 3,954,063 $ 1,654,063 $(2,300,000) S 1,051,050
0 0 0 0 0 700,000 700,000 0
0 0 0 66,960 742,842 985,030 242,188 727,666
0 0 0 0 0 0 0 (922,039)
0 0 0 0 0 101,000 101,000 0
(3,200,000) (3,200,000) 0 0 (5,500,000) (3,200,000) 2,300,000 0
$(1'545' 937) :S(4;:545;937) S 0 $ 66,960 S (803,095) $ 240,093 S 1,043,188 $ 856"
S(1,709,507) $(1,684,801) $ 24,706 S 507,484 $ (8,821,274) S 1,068,978 $ 9,890,252 $ (2,410,969)
1,709,507 1,709,507 0 1,202,023 9,402,074 8,153,156 (1,248,918) 10,564,125
0 0 0 0 0 0 0 746,675
0 (24,706) (24,706) 0 0 (24,706) (24,706) (746,675)
$ 0 $ 0 $ 1,709,507 :' $ 580,800 $ 9,197,428 $ 8,616,628 S 8,153,156'
73
1
1
1
1
1
1
i
i
City of Renton 1993 CAFR
ENTERPRISE FUNDS
Enterprise funds are established for government activities that are
financed and operate in a manner similar to private business. Costs of
providing services to the general public are primarily financed by user
fees.
WATERWORKS UTILITY FUND - Accounts for the operation and
capital improvement programs for the water, wastewater (sewer) and
surface water (storm drainage services) within the City. Activities
which are primarily supported by user fees include, administration;
billings and collections; debt service; engineering; and operation,
maintenance and repairs. The primary resources for the capital
improvement programs are revenue bond proceeds, grants as
available and utility collection charges.
AIRPORT FUND - Provides accounting for revenues and expenses
r which provide administration, debt service, operation, capital
improvements, and maintenance of the Renton Municipal Airport and
Will Rogers-Wiley Post Memorial Seaplane Base. Sources of support
to the fund are leases, fuel charges, investment interest, and grant
funding as available.
SOLID WASTE UTILITY FUND - Solid waste, recycling, and yard
waste collection services for the City are accounted for in this fund,
supported entirely by service fees. Expenses include payment to the
City's garbage contractor and other service charges.
GOLF COURSE FUND The City acquired the Maplewood Golf
Course in 1985 and this fund was created to account for the operation,
maintenance, debt service, and capital improvements of this municipal
facility. User fees provide for operation and approximately 15% of
debt services. Operating transfers from the General Fund provide
approximately 85%of the debt service.
rr
•r
aw
75
City of Renton 1993 CAFR
ENTERPRISE FUNDS Page 1 of 2 '
COMBINING BALANCE SHEET
YEAR ENDED DECEMBER 31, 1993 '
With Comparative Totals for December 31, 1992 WATERWORKS AIRPORT SOLID WASTE
UTILITY UTILITY
ASSETS:
Current Assets:
Cash and Cash Equivalents ............................ $ 397,154 $ 514,775 $ 29,865
Cash With Fiscal Agent ............................. 1,969 0 0
Investments ........................................ 257,156 799,688 150,000
Receivables, net of Allowance for Uncollectibles:
Accounts ......................................... 1,734,363 53,598 1,055,567
Interest on Investments .......................... 353,040 15,305 9,968
Allowance for Uncollectable ...................... (46,029) (3,929) (14,782)
Due From Other Funds ............................... 0 0 138 '
Due From Other Governmental Units .................. 719,272 0 39,071
Inventory of Material and Supplies ................. 268,426 0 0
Prepaid Items ...................................... 0 3,938 0
Total Current Assets.............................. 3,685,351 1,383,375 1,269,827 '
Restricted Assets:
Deposits ........................................... 29,170 0 0
Revenue Bond Debt Service .......................... 4,046,703 0 0
Construction Account ............................... 9,237,889 0 0
Total Restricted Assets........................... 13,313,762 0 0
Property, Plant and Equipment:
Fixed Assets (Net) ................................. 80,535,077 4,009,213 325,642
Construction In Progress ........................... 12,435,729 62,718 0
Total Property, Plant and Equipment ... 92,970,806 4,071,931 325,642
Deferred Charges and Other Assets ... 160,000 0 0
TOTAL ASSETS $110;129,;919 S5 455;306 $ 1,595`,469
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities:
Vouchers/Contracts Payable ..................... $ 316,195 $ 3,289 $ 460,594
Retainage Payable .............................. 54,630 0 0 ,
Due To Other Funds ............................... 0 0 0
Interfund Loans/Advances - Current ............... 0 0 0
Due To Other Governmental Units .................. 56,181 0 0
Matured Interest Payable ......................... 1,969 0 0
Accrued Interest Payable ......................... 334,759 0 1,098
Accrued Wages Payable ............................ 21,054 79 2,177
Accrued Employee Benefits Payable ................ 3,173 12 332
Accrued Taxes Payable ............................ 73 24,517 32,138
Deferred Revenues ................................ 54,718 63,315 0
Total Current Liabilities....................... 842,752 91,212 496,339
Liabilities Payable from Restricted Assets:
Deposits Payable ................................. 29,170 0 0
General Obligation Bonds Payable - Current ....... 54,560 0 45,000
Revenue Bonds Payable - Current Portion .......... 1,390,000 0 0
Total Liabilities Payable From Restricted Assets 1,473,730 0 45,000
Long Term Liabilities:
General Obligation Bonds Payable ................. 517,880 0 260,000 '
Unamortized Discounts on G.O. Bond ............... (12,509) 0 0
Revenue Bonds Payable ............................ 26,360,000 0 0
Unamortized Discounts on Revenue Bond ............ (617,977) 0 (8,697)
Accrued Employee Leave Benefits .................. 278,704 16,877 3,247 '
Interfund Loans/Advances - Non-Current ........... 0 0 0
Public Works Trust Fund Loan Payable ............. 1,385,565 0 0
Arbitrage Rebate Tax Payable ..................... 8,024 0 0
Total Long Term Liabilities........... 27,919,687 16,877 254,550
:TOTAL LIABILITIES .............. $ 30,236,169 $ 108,089 $ 795,889 ''
FUND EQUITY:
Contributed Capital ................................ $ 70,483,225 $1,999,770 $ 0
Retained Earnings:
Reserved For Debt Service ........................ 2,201,018 0 0
Unreserved ....................................... 7,209,507 3,347,447 799,580
TOTAL FUND EQUITY .. .. .... $ '79,893,750 $5,347,217 $ 799,580`
DOTAL LIABILITIES AND FUND EQUITY ...................... $110,129,919 $5,455,306 $ 1,595,469
11
City of Renton 1993 CAFR
Page 2 of 2
TOTALS
GOLF
COURSE 1993 1992
$ 77,160 $ 1,018,954 $ 539,362
0 1,969 1,969
75,000 1,281,844 2,670,433
14,107 2,857,635 2,478,893
400 378,713 272,055
0 (64,740) 0
140,396 140,534 134,675
0 758,343 1,005,301
0 268,426 242,704
0 3,938 3,938
307,063 6,645,616 7,349,330
0 29,170 20,480
0 4,046,703 3,905,118
0 9,237,889 8,017,714
0 13,313,762 11,943,312
4,740,581 89,610,513 84,037,922
3,851 12,502,298 6,900,195
4,744,432 102,112,811 90,938,117
0 160,000 176,000
� 35D5#,495: S#22: 232,189 3:1;10,406,(759'::
$ 4,478 $ 784,556 $ 1,015,389
11,325 65,955 53,207
657 657 25,765
104,991 104,991 9,209
0 56,181 9,420
0 1,969 1,969
12,240 348,097 286,591
1,150 24,460 20,779
175 3,692 2,328
7,159 63,887 59,554
0 118,033 75,787
142,175 1,572,478 1,559,998
0 29,170 20,480
275,280 374,840 295,260
0 1,390,000 1,120,000
275,280 11794,010 1,435,740
2,612,940 3,390,820 3,183,980
(58,332) (70,841) (94,375)
0 26,360,000 21,425,000
0 (626,674) (471,992)
26,854 325,682 286,616
29,899 29,899 39,890
0 1,385,565 963,821
0 8,024 7,465
2,611,361 30,802,475 25,340,405
$3,028,816 $'' 34,168,963 $ '28,336,143''
$ 5,000 $ 72,487,995 $ 67,478,189
0 2,201,018 2,004,768
2,017,679 13,374,213 12,587,659
$2,022,679 $ '88,0631226 $'r 82,070,616 'I
$5;051,495 $#22,232,184 $1.10,406,759;:;
77
City of Renton 1993 CAFR
i
ENTERPRISE FUNDS Page 1 of 2
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY ,
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
WATERWORKS AIRPORT SOLID WASTE '
UTILITY UTILITY
OPERATING REVENUES:
Charges for Services ........................... $ 14,596,717 $ 606,103 $ 6,251,537 '
Other Operating Revenue ........................ 234,904 6,060 0
TOTAL; OPERATING REVENUE .......................... $ 14,831,621 $ 612,163 $ 6,251,537'
OPERATING EXPENSES: ,
Operations and Maintenance ..................... S 8,039,088 S 201,266 S 5,629,406
Administrative and General ..................... 1,262,446 82,429 0
Insurance ...................................... 0 11,378 0
Taxes .......................................... 1,176,613 0 840,833
De reciation 1 858,777 231,793 55,466
TOTAL. OPERATING EXPENSES $ 12,336,924
OPEkA1tNG`INCOME (LOSS) -.- $ 2,494,697168� '
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 590,955 S 42,094 S 5,484 ,
Other Non-operating Revenue .................... 67,520 8,562 169,577
Interest Expense ............................... (1,294,502) (873) (11,926)
Arbitrage Expense .............................. (559) 0 0 '
Amortization of Debt Discount and Expense (59,174) (309) (1,208)
NON.OPE.RAT:INGIREVENUE)NET OF 'EXPENSES $ (695,760) $ 49,'474 : ;::':.;:[:6( 7
INCOME CEOSS) BEFORE OPERATING TRAN.5FERS ......... $ 1,.798,937 $'< 1.34,771 #,.,. .f.112;Z TT
OPERATING TRANSFERS IN .......................... 0 0 0
NET INCOME: fEfl $� BEFORE EXTRAORDINARY '1,798, 37 > 34,T1 ..;:3 t1.?2= yi3; ,
EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 1,195,745 0 0
NET INCOME (LOSS) ........... ... ..... $ 603,192 $ 134,771 $ (112,241) '
Depreciation Reducing Grant Contributed CapitaL. 0 159,580 0
INCREASE tDECREASE) IN RETAI:.N.ED EARNINGS . ....... $ 603,1922 S
RETAINED EARNINGS, JANUARY 1 ....... $ 8,807,333 $ 3,053,096 $ 911,821
:RETAINED EARNINGS, JANUARY I, RESTATED $ 8.807, S 3,'053,096 $ 911,821>:
RETAINED EARNINGS, DECEMBER 31 ............. $ 9,410,525 $:::I 3,347,447 S 799;5$0:::'
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 65,417,499 $ 2,055,690 $ 0
Capital Grants ............................... 966,423 0 0
Amortization on Capital Grants ............... 0 (159,580) 0 '
Other Contributed Capital .................... 4,099,303 103,660 0
:CONTRI;BUTED CAPITAL,%:DECEMBER:31 $5,,.70,483,225 $ I 1,999,770 $ 0
f.UND ECUITY,:OECEMBER 31 $ ::79,893,750 $ 5,347,217 $ 799,580 '
78 r
City of Renton 1993 CAFR
Page 2 of 2
TOTALS
GOLF
COURSE 1993 1992
a $ 787,524 $ 22,241,881 $ 21,226,806
16,673 257,637 449,709
$ '804,197 $ 22,499,518 $ 21,676,515
$ 525,879 S 14,395,639 $ 13,660,346
0 1,344,875 1,279,757
0 11,378 11,021
3,722 2,021,168 1,879,379
52,295 2,198,331 2,057,498
$ 581,896 $ 19,971,391 $ 18,888,Q0!1
S 222,301 $ 2,528,127 S 2;788,51::;:
$ 8,375 $ 646,908 $ 722,553
0 245,659 108,424
(160,824) (1,468,125) (1,582,516)
0 (559) (520)
(9,963) (70,654) (55,810)
S (162;412) ' S (646,771) $ (807,,$bS)
S 59,889 $ 1,881,356 $ 1 j 980.611 :;
375,575 375,575 372,125
$ 435,464 $'< 2,256,931 S 2,352,770
237,962 1,433,707 384,077
$ 197,502 $ 823,224 $ 1,968,693
0 159,580 121,331
$ 197,502 S 982,804 S 2,090,024`
$ 1,820,177 $ 14,592,427 $ 12,502,403
$ 1,820,177 $ 14,592,427 $ 12,502,403
$ 2;017,679 S 15,575,231 S 14,592;427 '
$ 5,000 $ 67,478,189 $ 64,215,527
0 966,423 1,852,848
0 (159,580) (121,331)
0 4,202,963 1,531,145
S 5,000 $ 72,487,995 '` S 67,478,189
S 2,022,679 $ 88,063,226 S ',82,070,616r
79
City of Renton 1993 CAFR
ENTERPRISE FUNDS Page 1 of 4
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
WATERWORKS AIRPORT SOLID WASTE
UTILITY
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Customers ................................. $ 14,001,670 $ 625,393 $ 6,223,137
Cash Received From Other Funds for Services .................. 403,834 0 6,587
Cash Paid to Suppliers for Goods and Services ................ (4,991,550) (75,023) (5,704,817)
Cash Paid to Other Funds for Goods and Services .............. (2,494,287) (64,868) (290,865)
Cash Paid to Employees ....................................... (2,109,167) (146,352) (91,705)
Cash Paid for City Utility Taxes ............................. (869,965) 0 (374,745)
Other Operating Receipts ... ... .... 234,904 6,060 0 '
Other Non-Operating Receipts ................................. 23,446 8,335 97
NET CASH'''PROVIDED (USED) BY OPERATING ACTIVITIES .: $ 4;;#98,885;: ..5 353;545 $ (232;311)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Proceeds From Interfund Loans ................................ S 0 S 0 $ 0
Operating Grants Received .................................... 0 0 139,291
Operating Transfers From Other Funds ......................... 0 0 0
Repayments on Interfund Loans ................................ 0 0 0
NET CASH PROVIDED (USED) BY NONCAR TAI FINANCING ACTIVITIES.....:b:. 3 0 S> 139 291>
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. $ 5,159,749 S 0 $ 350,000
Payments on Bond Issuance and Registration Fees .............. (3,672) 0 (9,905)
Proceeds From State Long-Term Loans .......................... 477,925 0 0
Acquisition and Construction of Capital Assets ............... (10,103,669) (148,222) (371,642)
Payments Received from Intergovernmental Loan ................ 37,875 0 0
Capital Contributions ........................................ 1,668,594 0 0
CapitaL Grants ............................................... 1,202,191 135,690 0
Principal Payments on Bonds .................................. (1,298,840) (50,000) (45,000)
Interest Payments on Bonds ................................... (1,307,523) (1,654) (10,828)
Interest Payments on State Long Term Loans ................... (29,009) 0 0
NET`CASH''PROVIDED (USED) &Y:CAPITAI :FINANCING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments ............................ S 19,148,806 $ 1,724,999 $ 625,000
Payments for Investments ..................................... (17,962,852) (1,877,363) (475,000)
Interest on Investments ...................................... 454,133 36,795 10,503
NET CASH<PRaVIDED (USED) BY INVESTING ACTIVITIES $ 1,640,087 $ (115,569) $ t60;l5Q3:
NET INCREASE.<D:ECREASE7. IN GASH AND CASH EQUIVALENTS ........... $ 1,642,593 S 173x7,90 $ (19,8921
AN
CASH DCASH; QUIVALENTS, ;IANUARIf 1............................ 12,068,323 340,985 44,757:
CASH AND CASN.;EOULVAtENTS, DECEMBER;3I ......................... $ 13,710,916 $
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents .................................... $ 397,154 S 514,775 $ 29,865
Cash Restricted for:
Deposits ................................................... 29,170 0 0
Revenue Bond Debt Service .................................. 4,046,703 0 0
Construction Account9,237,889 0 0
.......................................
TOTAL CASH AT THE END OF THE YEAR .. .'...'........................ $ 13,710,916':`. #i 53.4,775 �:;; 29 865a
80 _,
City of Renton 1993 CAFR
Page 2 of 4
TOTALS
GOLF
COURSE 1993 1992
$ 784,583 S 21,634,783 $ 20,644,861
0 410,421 352,660
(230,088) (11,001,478) (10,352,318)
.. (85,233) (2,935,253) (2,650,538)
(213,782) (2,561,006) (2,412,675)
0 (1,244,710) (1,179,827)
17,137 258,101 449,302
0 31,878 102,993
$ 272`617 $ '4592,736 $ 4,954,458
$ 95,000 S 95,000 $ 0
0 139,291 53,678
366,394 366,394 364,715
(13,382) (13,382) (101,480)
$ 448,012'' S 587,303 $< 316,9,13.
$ 2,180,040 $ 7,689,789 $ 3,929,064
(40,835) (54,412) (1,448)
0 477,925 973,241
(474,207) (11,097,740) (4,889,185)
0 37,875 0
0 1,668,594 981,831
0 1,337,881 1,281,828
(246,420) (1,640,260) (1,168,980)
(161,671) (1,481,676) (1,670,185)
(2,139 143) (2,168,152) (1,744)
$ <IWZ,236) S '(5,230;>176) $' (565,578.)
$ 650,000 S 22,148,805 $ 25,897,112
(445,000) (20,760,215) (27,224,095)
10,158 511,589 652,861
$' 215,158 S 1,900,179 $ (674,122)
$ 53,551 S ,1,850,042 $ 4,031,671
23,609 12,482,674 8,451,003
$ 77,160 S 14,332,716'' $ 12,482,674
$ 77,160 $ 1,018,954 $ 539,362
0 29,170 20,480
0 4,046,703 3,905,118
0 9,237,889 8,017,714
$' 77,160 S 14,332,716 $ 12;482,674
81
City of Renton 1993 CAFR
ENTERPRISE FUNDS Page 3 of 4
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1993 '
With Comparative Totals for Year Ended December 31, 1992
WATERWORKS AIRPORT SOLID WASTE
UTILITY
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 2,494,697 $ 85,297 $ (274,168)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
Depreciation and Amortization of Deferred Charge ........... 1,874,777 231,793 55,466
Other Non-Operating Revenue ................................ 67,520 8,562 235
(Increase) Decrease in Accounts Receivable (289,989) 5,028 (28,082)
(Increase) Decrease in Due From Other Funds/Governmental ... 2,076 0 1,246
(Increase) Decrease in Inventory/Prepaid Items ............. (25,722) 0 0
Increase (Decrease) in Vouchers/Retainage Payable .......... 42,566 335 8,938
Increase (Decrease) in Due to Other Funds/Governmental ..... 0 0 (1,405)
Increase (Decrease) in Payables/Other Short Term Liabilities 3,066 1,922 4,192
Increase (Decrease) in Customer Deposits ................... 8,690 0 0
Increase (Decrease) in Deferred Revenues .................. (14,852) 16,134 0
Increase (Decrease) in Accrued Employee Leave Benefits ..... 36,056 17 1,267
Capital Cost Reported as Operating Expense ................. 0 4,457 0
Total Adjustments ...................................... $ 1,704,188 $ 268,248 $ 41,857
NET CASH PROVIDED (USED) BY>OPERAT::.J:N6 ACT VtT1ES ............ $ 4,198,885 $ 353,545 $I' (2321311)
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Assets Contributed By Developers ....................... $ 2,194,457 $ 0 $ 0
Fixed Asset Contributed By Other Funds ....................... 6,124 0 0
Advance Refunding of Revenue Bonds ........................... 9,092,924 0 0
TOTAL"NONCASH''CAPITAL''AND RELATED FINANCING ACTIVITIES ......... $ 11,293,505'' $ 0"', $ Qi
82
City of Renton 1993 CAFR
Page 4 of 4
TOTALS
GOLF
COURSE 1993 1992
$ 222,301 $ 2,528,127 $ 2,788,514
52,295 2,214,331 2,073,498
0 76,317 80,120
(2,352) (315,395) (282,040)
0 31322 136,364
0 (25,722) 6,556
(1,551) 50,288 (1,988)
0 (1,405) (7,230)
�. 198 9,378 9,147
0 8,690 (1,208)
0 11282 50,128
1,726 39,066 102,060
0 4,457 537
$ 50,316 $ 2,064,609 $ 2,165,944
$ 272,617 $ 'j,4,592,736 $ 4,954,458>
$ 0 $ 2,194,457 $ 533,417
0 61124 26,124
0 9,092,924 4,543,300
$ 0 $c'11,293,505 $ 5,102,841
83
� Y �
City of Renton 1993 CAFR
INTERNAL SERVICE FUNDS
Internal service funds are used to account for the financing of goods
and services provided by one department or agency to other
departments or agencies of the City.
EQUIPMENT RENTAL FUND -Accounts for the costs of maintaining
and replacing all City vehicles and auxiliary equipment except for fire
.r apparatus and replacement of police patrol vehicles. All equipment
costs, including depreciation, are factors in calculating the rates which
are charged to each user department.
INSURANCE FUND - Provides accounting for self-insurance services
to all City departments, including provision for losses on property,
liability, worker's compensation, unemployment compensation, and a
health care program. Expenses are paid by the Insurance Fund and
rates are charged to departments based on use and/or coverage
requirements.
r
r
r
s
85
City of Renton 1993 CAFR
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING BALANCE SHEET
YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for December 31, 1992 TOTALS
EQUIPMENT INSURANCE
RENTAL 1993 1992
ASSETS: ,
Current Assets:
Cash and Cash Equivalents .......................... $ 400,105 $ 338,217 S 738,322 $ 602,263
Investments ...................................... 100,000 1,050,231 1,150,231 1,430,372
Receivables:
Accounts ....................................... 0 28,394 28,394 15,792
Interest on Investments ........................ 266 20,711 20,977 23,269
Interfund Loans/Advances - Current ............... 0 9,991 9,991 9,209
Due From Other Governmental Units ................ 71,899 0 71,899 83,465
Inventory of Material and Supplies ............... 38,704 0 38,704 52,828
Prepaid Items .................................... 0 3,000 3,000 3,000
Total Current Assets............................ 610,974 1,450,544 2,061,518 2,220,198
Property, Plant and Equipment:
Fixed Assets (Net) ............................... 1,620,313 0 1,620,313 1,559,094
Total Property, Plant and Equipment............. 1,620,313 0 1,620,313 1,559,094
Interfund Loans/Advances - Non-Current 0 29,899 29,899 39,890
TOTAL ASSETS $!2 231<287 $ >1,480,443
3 �7l.`73 3 3`819 182: ,
LIABILITIES AND FUND EQUITY:
LIABILITIES:
Current Liabilities: '
Vouchers Payable ............................... S 52,915 $ 32,881 $ 85,796 $ 51,756
Due To Other Funds ............................. 0 0 0 3,324
Accrued Interest Payable ....................... 9,421 0 9,421 13,617
Accrued Wages Payable .......................... 3,508 0 3,508 1,824
Accrued Employee Benefits Payable .............. 534 0 534 222
Other Short Term Liabilities ................... 0 61,597 61,597 18,630
General Obligation Bonds Payable - Current ..... 74,005 0 74,005 66,920
Total Current Liabilities..................... 140,383 94,478 234,861 156,293 ,
Long Term Liabilities:
General Obligation Bonds Payable ............... 744,560 0 744,560 795,443
Unamortized Discounts on G.O. Bond ............. (10,393) 0 (10,393) (11,529)
Accrued Employee Leave Benefits ................ 47,760 0 47,760 44,743
Claims Incurred But Not Reported................ 0 1,259,126 1,259,126 723,609
Arbitrage Rebate Tax Payable ................... 2,911 0 2,911 2,723
Total Long Term Liabilities. 784,838 1,259,126 2,043,964 1,554,989
TOTAL LIABILITIIES ....... ...... .....:r $::::::925, ;221 $ ;'1,353,604 g 2,278,825 $ 1,711,282::
FUND EQUITY:
Contributed Capital .. .. .. .. $1,038,192 $ 0 $ 1,038,192 $ 1,038,192
Reserved For Insurance Deductible .. 0 0 0 500,000
Unreserved ... 267,874 126,839 394,713 569,708
TOTAL FUND'EQUITY ..;?s A.C.. ... ' ...... ........... $1,306,066 $ 126,1839 Y 1,432,,905 . 2,1.07,946;;
TOTAL LIABILITIES AND;!F.QND;EQUITY .................... $2,231,287 $ I1 4$01443 3- 3,711.j73
86
City of Renton 1993 CAFR
INTERNAL SERVICE FUNDS Page 1 of 1
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
TOTALS
EQUIPMENT INSURANCE
RENTAL 1993 1992
OPERATING REVENUES:
Charges for Services ........................... $ 1,191,638 $ 4,009,949 $ 5,201,587 $ 4,426,827
Other Operating Revenue ........................ 0 258,597 258,597 92,782
TOTAL OPERATING REVENUE ...I....... ...... ...... . $ 1,191,638 $ 4,268,546 $ 5,460,184 $ 4,5 W
OPERATING EXPENSES:
Operations and Maintenance ..................... $ 686,313 $ 0 $ 686,313 $ 616,084
Benefit Payments ............................... 0 4,217,601 4,217,601 3,729,598
Professional Services .......................... 0 220,702 220,702 201,918
Administrative and General ..................... 164,875 101,936 266,811 213,345
Insurance ...................................... 0 421,181 421,181 412,902
Depreciation ........................... 365,026 0 365,026 347,374
TOTALOPERATING EXPENSES _......'................ $ 1,216;214 $ 4,961,420 $ :6,177';634 $?: ,, :;,
OPERATING INCOME (LOSS) .......................... $ (24,576) $ (692,874) $ (717,450) $ (1,p01;,612)
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue ............................... $ 13,577 $ 41,214 $ 54,791 $ 89,136
Gain (Loss) on Sale of Assets .................. (23,949) 0 (23,949) 12,118
Other Non-operating Revenue .................... 7,090 70,108 77,198 18,732
Interest Expense ............................... (45,900) 0 (45,900) (46,414)
Arbitrage Expense .............................. (188) 0 (188) (176)
Amortization of Debt Discount and Expense (1,476) 0 (1,476) (1,289)
NON OPERATING REVENUE NET .OE EXPENSES $ (5Q 846) $ 111;322 $ 60,476 72;:107::
INCOME (LOSS) BEFORE OPERATING TRANSFERS ......... $ (75,422) $ (581,552) $ (656,974) S (929,505)
w OPERATING TRANSFERS IN .......................... 0 0 0 300,000
OPERATING TRANSFERS OUT .......................... 0 0 0 (110,000)
NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM ...... $ (75,422) $ (581,552) $ (656,974) S (739,505)
EXTRAORDINARY LOSS ON ADVANCE REFUNDING .......... 22,782 0 22,782 0
NET INCOME (LOSS) ................................ $ (98,204) $ (581,552)i': (739,505):
RETAINED EARNINGS JANUARY 1 ..................... $ 361,317 $ 708,391 $ 1,069,708 S 1,809,213
RETAINED.,EARNINGS, JANUARY,$, RESTk?ED $ 361,317 $ 708,391 I' $ 1,069,708: $" 1,809!'213''
Residual Equity Transfers In (Out) ............. 4,761 0 4,761 0
RETAINED EARNINGS, 'DECEMBER:3t. ......'............. $ 267,874 $ 126,839*. $ 394,713 $ 1,069,708r
CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 1,038,192 $ 0 $ 1,038,192 $ 1,035,268
Other Contributed Capital .................... 0 0 0 2,924
CONTRIBUTED'CAPITAL, DECEMBER 31 ................. $ 1,038,192 $ 0 $ 1,038,192 $ 1,038,192'
FUND EQUITY, 'DECEMBER 31 `......................... $ 1,306,066 $ 126,839 $ 1,432,905,,.:.:.$ 2,107,900;1
87
City of Renton 1993 CAFR
i
INTERNAL SERVICE FUNDS Page 1 of 1 ,
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992 ,
TOTALS
EQUIPMENT INSURANCE
RENTAL 1993 1992
CASH FLOWS FROM OPERATING ACTIVITIES: ,
Cash Received From Other funds for Goods and Services ........ $1,191,638 $ 4,009,949 $ 5,201,587 $ 4,428,778
Cash Paid to Suppliers for Goods and Services ................ (309,567) (4,289,470) (4,599,037) (4,380,858)
Cash Paid to Other Funds for Goods and Services .............. (279,488) (101,500) (380,988) (258,791) '
Cash Paid to Employees ....................................... (216,625) 0 (216,625)
(228,830)
Other Operating Receipts ..................................... 0 258,597 258,597 90,327
Other Non-Operating Receipts .. ........ .... 29,362 65,935 95,297 37,179
NET CASH PROVIDED ((ISEDI[..:BY OPEkATINGiAG1fIVITIES (312,195)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Operating Transfers From Other Funds ......................... $ 0 $ 0 $ 0 $ 300,000
Operating Transfers To Other Funds ........................... 0 0 0 (110,000)
Repayments on Interfund Loans ................................ 0 13,382 13,382 101,480
[ET;CASH.PROVIDED:; USED),BY NONGAPtTAL.:FIAMC INGACTIVtTIES ";`:;;::13°:382`::<::: 5::::::.....:]3:'382 $
_-. 291 X480
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Proceeds From Sale of Bonds .................................. $ 0 $ 0 $ 0 $ 310,320
Payments on Bond Issuance and Registration Fees .............. (1,720) 0 (1,720) (140) '
Proceeds From Sale of Equipment .............................. 15,909 0 15,909 15,336
Acquisition and Construction of Capital Assets ............... (476,931) 0 (476,931) (388,209)
Principal Payments on Bonds .................................. (67,020) 0 (67,020) (106,055)
Interest Payments on Bonds ................................... (48,377) 0 (48,377) (45,406)
Residual Equity Transfer Out ... 4,761 0 4,761 0
NEI::CASH.:PROVIDMi.tt1SED� BY.CAPI.:TJIf_ FINANCING;ACTIVI7TES.:..x,; [.::(5ir3;378 ....$...: 0 3.;.:..f57j,378154..)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments $ 890,000 $ 1,120,934 $ 2,010,934 $ 2,788,838
Payments for Investments .................................. (740,000) (990,793) (1,730,793) (2,585,372)
Interest on Investments 14,263 42,820 57,083 113,797
AT:
ET GASFI:PRQVIDED:i(USED) BY #NVESTING"ACTIVITIES ............... $ 164,263 $ 172,961 $ 337,224 $ 317'263 :
NET INCREASE,DECREASE) IN CASH ANDi:CASH EQUIVALENTS ........... $ 6,205 $ 129,854 $ 136,059 $ ,
CASH>ANO CASH EQUIVALENTS, JANUARY 1 393,900 208,363 602,263 519;869
:CASH iAND;CASH EQUIVALENTS, DECEMBER 31 ......................... $,, 400,105 $ 338,217 S 738t.322 $ 602,263:':
CASH AT THE END OF THE YEAR CONSISTS OF: ,
Cash and Cash Equivalents .................................... $ 400,105 S 338,217 $ 738,322 S 602,263
TOTAL CASFI;AT THE::END OF :THE YEAR. :a:f
......: :,.......,f S 400,I OS $ 338,217 $; 738,322' $> 602,263
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH '
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ (24,576) $ (692,874) $ (717,450) $(1,001,612)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities: ,
Depreciation ............................................... 365,026 0 365,026 347,374
Other Non-Operating Revenue ................................ 7,090 65,935 73,025 6,972
(Increase) Decrease in Accounts Receivable ................. 0 (12,602) (12,602) (15,792)
(Increase) Decrease in Due From Other Funds/Governmental ... 22,272 0 22,272 32,158
(Increase) Decrease in Inventory/Prepaid Items ............. 14,124 0 14,124 (2,933)
Increase (Decrease) in Vouchers Payable .................... 26,371 7,792 34,163 31,498
Increase (Decrease) in Due to Other Funds/Governmental ..... 0 (3,224) (3,224) 3,192
Increase (Decrease) in Payables/Other Short Term Liabilities 1,996 42,967 44,963 (5,655)
Increase (Decrease) in Accrued Employee Leave Benefits ..... 3,017 0 3,017 6,451
Increase (Decrease) in Claims Incurred But Not Reported .... 0 535,517 535,517 288,048
Capital Cost Reported as Operating Expense ................. 0 0 0 (1,896)
Total Adjustments ...................................... $ 439,896 $ 636,385 $ 1,076,281 $ 689,417
NET;;CA$H';PROVIDED (USED) BY OPERATING ACTIVITIES $ :415,320 $ X56;489).: S 358,831 $ (312,795)
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:
Fixed Asset Contributed By Other Funds ....................... $ 4,556 $ 0 $ 4,556 $ 2,925
Asset Trade-In ............................................... 25,500 0 25,500 17,691
Advance Refunding of Revenue Bonds 207,169 0 207,169 0
TOTAL:NONCAS.N C0.1. AGIIVITIES' ......... S237 225 $'.'..:::
ri
88
City of Renton 1993 CAFR
FIDUCIARY FUNDS
Fiduciary Funds are used to account for assets held by the City in a
trustee capacity or as an agent for individuals, private organizations,
r other governmental units, and/or other funds. These funds are
classified as Pension Trust, Expendable Trust, and Agency Funds.
PENSION TRUST FUNDS
FIREMEN'S PENSION FUND - Accounts for the
payment of
administrative costs, and benefits for retired fire fighters (and
beneficiaries) who were employed prior to March 1, 1970. Primary
revenue sources are general property tax allocations in accordance
with actuarial recommendations, fire insurance premium tax, and
investment interest.
AGENCYFUNDS
r
SPECIAL DEPOSIT FUND-Established for the purpose of holding or
retaining cash deposits or other securities pending fulfillment of certain
conditions and/or requirements by the depositor. Rebates are made
when all obligations have been met, and only upon authorization from
the transmitting department.
ADVANCE TRAVEL EXPENSE REVOLVING FUND - Established to
provide advance payments of travel expense to elected or appointed
officials or employees of the City of Renton.
FLEXIBLE BENEFITS - New fund established in 1992 to administer
the Flexible Benefit Plan adopted in 1989. The plan allows employees
to pay for certain health and dependent care expenses with tax free
dollars on an elective basis through payroll deductions. In prior years,
the activity was accounted for in the insurance fund.
DEFERRED COMPENSATION FUND - New fund established during
1986, to account for the Deferred Compensation plan assets and
' liabilities.
1
89
City of Renton 1993 CAFR r
Page 1 of 2 r
FIDUCIARY FUNDS
COMBINING BALANCE SHEET N
DECEMBER 31, 1993 PENSION
AGENCY FUNDS
With Comparative Totals for December 31, 1992
TRUST
PENSION SPECIAL ADVANCE FLEXIBLE r
TRUST DEPOSIT TRAVEL BENEFITS
ASSETS:
Cash and Cash Equivalents $ 491,434 $ 301,464 $ 4,000 $ 1,834 0
0 0 0 r
Deferred Compensation Plan Assets ..........•••••' 1,990,168 0 0 0
Investments ......................................
Receivables: 0 0 0 0
Accounts ....................................... 0 0 0
Interest on Investments 88,307 r
657 0 0 2,893
Due From Other Funds •• •• 0 0 0
Interfund Loans/Advances-Current Note 5 .. 95,000
TOTAL ASSETS
$>2;665;566 $ 301,464 4,000 $ 4,727
LIABILITIES AND FUND EQUITY: r
LIABILITIES:
Vouchers Payable ............................... $ 0 $ 2,200 $ 0 $ 4,336
391
Deposits Payable ............................... 0 299,264 0 0
Deferred Compensation Payable .................. 0 0 0
0 p 4,000 0
Interfund Loans/Advances - Non-Current
r
TOTAL LIABILITIES .1' .... $ 0 $ 301,464 $ 4,000 $ 4,727
FUND EQUITY:
Fund Balance:
Reserved For Pension Obligation .............. $ 7,076,000 $ 0 $ 0 0
$
Unreserved Undesignated (4,410 434) 0 0 0
.. .... ....
TOTAL FUND 'EQUITY ................. $; 2,665,566 $ 0 $ 0 $ 0 :
TOTAL LIABILITIES'AND FUND EQUITY ............... $ 2,665,566 $ 301,464 $ 4,000 $ 4 727:
•
90 �-'
City of Renton 1993 CAFR
Page 2 of 2
TOTALS
DEFERRED
COMPENSATION 1993 1992
$ 0 $ 798,732 $ 620,858
4,459.,948 4,459,948 3,439,581
0 1,990,168 2,033,516
0 0 366
0 88,307 101,606
w 0 3,550 0
0 95,000 0
$ 4,459,948 $ `,7,435,705 $ 6,195,927
$ 0 $ 6,536 $ 31176
0 299,655 318,274
.. 4,459,948 4,459,948 3,439,581
0 4,000 4,000
$' 4,459,948 $ 4,770,139 $ 3,765,031
rr
$ 0 $ 7,076,000 $ 6,998,000
0 (4,410,434) (4,567,104)
$ 0 665,566 $ 2,430,896
r S
4,4W; 435',705 $ `I 6,195,927
rr
r
r
r
r/ 91
City of Renton 1993 CAFR
FIREMEN'S PENSION TRUST FUND Page 1 of 1
COMPARATIVE STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
1993 1992
OPERATING REVENUES:
Fire Insurance Premiums ........................ $ 51,032 $ 44,536
Property Taxes ................................. 246,000 228,000
Interest Revenue ............................... 228,286 149,719
TOTAL OPERATING REVENUE ........... $ 525,318 $ 422,255
OPERATING EXPENSES:
Benefit Payments ............................... $ 283,383 $ 314,066
Administrative and General 7,265 2,770
TOTAL''OPERATING EXPENSES ......................... $ 290,648 $
NET INCOME(LOSS) ................................. $ 234,670 $ 105,419,
RETAINED EARNINGS, JANUARY 1 ..................... $ 2,430,896 $ 2,325,477
RETAINED EARNINGS, DECEMBER 31 ,z.....•.,,......... $ 2,665,566 S 2,430,896'
92
City of Renton 1993 CAFR
FIREMEN'S PENSION TRUST FUND Page 1 of 1
COMPARATIVE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1993
With Comparative Totals for Year Ended December 31, 1992
1993 1992
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received From Taxes on Fire Insurance Premiums .......... S 51,032 $ 44,536
Cash Received From Property Taxes ............................ 246,000 $ 228,000
Cash Paid to Suppliers for Goods and Services ................ (4,640) (300)
Cash Paid to Other Funds for Goods and Services .............. (2,669) (2,426)
Cash Paid to Retirees ........................................ (283,383) (314,066)
Interest Revenue 240,928 156,433
. .. .... Y 24?.268 3 1;:.12,177
NET:CASN PR01l:I.QEQ.(USED) BY:OPERATNG AG1:VITIE$ .:.: .....
Ir CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Proceeds From Interfund Loans S (95,000) S 0
NET CASN PROVIDED ;(USED) BY'NONCAPITAL FINANCING:ACTIV11:1ES
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds From Sale of Investments ............................ $ 306,342 S 56,966
Payments for Investments ..................................... (262,994) (68,540)
.NET CASH PR0V, 0ED. (U*SED) BY'INVEST'ING ACTIVITIES':'.............. $ 43;348 $1 (11,574)
NET"'INCREASE..LDECR EASE') IN CASH AND CASH''EQUIVALENTS ........... $ 195,616 S 1.00,603
W CASH AND CASH`EQUIVA€ENTS, JANUARY 1 295,818 195,215
CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 491,434 $' 295,$18.
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents .................................... $ 491,434 $ 295,818
TOTAL CASH AT THE END OF THE YEAR ......................... $
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss) ...................................... $ 234,670 $ 105,419
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided (Used) By Operating Activities:
(Increase) Decrease in Interest on Investments ............. 13,299 6,714
(Increase) Decrease in Due From Other Funds ................ (657) 0
Increase (Decrease) in Vouchers Payable .................... (44) 44
Total Adjustments ...................................... $ 12,598 $ 6,758
NET CASH';PROVIDED,(USED) RY OPERATING'ACTIVITIES .............. S 247,268
93
City of Renton 1993 CAFR
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Page 1 of 1
ALL AGENCY FUNDS
YEAR ENDED DECEMBER 31, 1993
BALANCE BALANCE
1/01/93 ADDITIONS DEDUCTIONS 12/31/93
ASSETS
Cash and Cash Equivalents S- 309,965 $ 118,301 $ 126,803 S 301,463
Due From Other Funds 0 0 0 0
TOTAL ASSETS S 309,965 $ 118,301 $ 126,803 $ 301,463
LIABILITIES
Vouchers Payable $ 0 $ 101,384 $ 99,184 $ 2,200
Deposits Payable 309,965 121,302 132,003 299,264
TOTAL LIABILITIES $ 309,965 $ 222,686 $ 231,187 $ 301,464
X.
ADVANCE TRAVEL F.UND, >:;;:
ASSETS
Cash and Cash Equivalents S 3,634 $ 366 $ 0 $ 4,000
Accounts Receivable 366 0 366 0
TOTAL ASSETS $ 4,000 $ 366 $ 366 $ 4,000
LIABILITIES
Vouchers Payable S 0 $ 0 $ 0 $ 0
Advances From Other Funds 4,000 0 0 4,000
TOTAL LIABILITIES $ 4,000 $ 0 $ 0 $ 4,000
FLEXIBLE''BENEF
..............:::.....
ASSETS
Cash and Cash Equivalents $ 11,441 $ 62,509 $ 72,115 $ 1,835
Due From Other Funds 2,893 0 2,893
TOTAL ASSETS $ 11,441 $ 65,402 $ 72,115 $ 4,728
LIABILITIES
Vouchers Payable $ 3,132 $ 65,399 $ 64,195 $ 4,336
Deposits Payable 8,309 65,402 73,320 391
TOTAL LIABILITIES $ 11,441 $ 130,801 $ 137,515 $ 4,727
DEFERRED'iCOMPENSATI0N ; UNQ
...
ASSETS
Other External Trusts $ 0 $ 13,243 $ 0 $ 13,243 '
Deferred Compensation Plan Assets 3,439,581 1,007,124 0 4,446,705
TOTAL ASSETS $3,439,581 $ 1,020,367 $ 0 $4,459,948
LIABILITIES
Deferred Compensation Payable $3,439,581 $ 1,020,367 $ 0 $4,459,948
:TOTAL ALL AGENCY FUNDS
ASSETS
Cash and Cash Equivalents $ 325,040 $ 181,176 $ 198,918 $ 307,298
Other External Trusts 0 13,243 0 13,243
Deferred Compensation Plan Assets 3,439,581 1,007,124 0 4,446,705
Accounts Receivable 366 0 366 0 '
Due From Other Funds 0 2,893 0 2,893
TOTAL ASSETS $3,764,987 $ 1,204,436 $ 199,284 $4,770,139
LIABILITIES '
Vouchers Payable $ 3,132 $ 166,783 $ 163,379 $ 6,536
Deposits Payable 318,274 186,704 205,323 299,655
Deferred Compensation Payable 3,439,581 1,020,367 0 4,459,948
Advances From Other Funds 4,000 0 0 4,000
TOTAL LIABILITIES $3,764,987 $ 1,373,854 $ 368,702 $4,770,139
94
City of Renton 1993 CAFR
'! GENERAL FIXED ASSETS ACCOUNT GROUP
The General Fixed Assets Account Group is self-balancing, and
accounts for all the fixed assets of the City other than those recorded
in the enterprise and internal service funds; or infrastructure assets
which are considered public property. Infrastructure includes items
such as roads, bridges, curbs and gutters, streets and sidewalks,
drainage systems, and street lighting systems.
!
!
95
City of Renton 1993 CAFR
Page 1 of 1 �
GENERAL FIXED ASSETS ACCOUNT GROUP
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992
1993 1992
ASSETS:
$ 846,596 $ 646,906
Investment in Joint Venture
Fixed Assets (Net) ..................................... 53,179,6152, ,447 rr
,. 4,379 4111 112222,393
Construction In Progress $.53,1'388 746;;
TOTAL'>sASSETS ............r'>...... .....
r
Other Credits:
$ 0 S 461,222
Investment in Joint Venture Assets __ $ 58,405,617 $ 52,927,524
investments in General Fixed Assets .. .. $ 58,405,617 $ 53,388;746::
96
Cny of Renton 1993 CAFR
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE Page 1 of 1
DECEMBER 31, 1993
GENERAL'>;FIXED''ASSET9 ;i
Land S 13,825,812
Buildings 19,419,255
Improvements Other Than Buildings 13,740,738
m Machinery and Equipment 6,193,805
Construction Work in Progress 4,379,411
DOTAL GENERAL Fi17XEQ.ASSE.TS $ 57,559,021
;INVESTMENT IW.4ENERAL ;,FIXEU A.SSBTS FROM:
General Obligation Bonds $ 21,803,777
Federal Grants 6,401,182
State Grants 1,609,016
County Grants 5,356,335
General Revenues 20,087,328
Donations 2,301,383
TOTAL INVESTM.E.N:F IN:GENERAI. FIXEp.gSSET S 57,559,021
97
City of Renton 1993 CAFR
r
SCHEDULE OF GENERAL FIXED ASSETS Page 1 of 1
BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1993
.r
IMPROVEMENTS MACHINERY CONSTRUCT
OTHER THAN AND MONK II#
FUNCTION TOTAL LAND BUILDINGS:: BUILDINGS EQUIPMENT PROGRESS
General Goverment $ 5,797,755 $ 1,376,171 $ 2,219,892 $ 188,277 $1,861,921 $ 151,494
nm
Security of Persons/Property 4,141,629 261,249 844,552 174,763 2,861,065 0
Physical Environment 3,819,309 0 2,751,874 743,383 324,052 0
Transportation 1,102,270 759,563 118,218 0 224,489 0
Economic Environment 2,049,210 472,016 1,294,221 9,702 273,271 0
Culture and Recreation 40,648,848 10,956,813 12,190,498 12,624,613 649,007 4,227,917
TOTAL GENERAL FIXED ASSETS $57,559,021 $13,825;812 $ 19,4191255 3 13;740,738: $6,:193,8Q5 St 4,379,411.:;:;
1
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR ENDED DECEMBER 31, 1992
a
GENERAL GENERAL
FIXED ASSETS FIXED ASSETS s
FUNCTION 1/01/93 INCREASES DECREASES 12/31/93,, >
General Government $ 5,556,448 $ 273,658 $ 34,217 $ 5,795,889
Security of Persons/Property 4,006,701 212,833 58,015 4,161,519
Physical Environment 3,820,563 48,512 129,197 3,739,878
Transportation 1,046,916 125,307 8,505 1,163,718
Economic Environment 1,972,574 91,378 18,930 2,045,022
Culture and Recreation 36,338,638 4,385,468 71,111 40,652,995
TOTAL GENERAL FIXED ASSETS $52,741,840 $ 5,137559,Ll2.E.;::
98
w
City of Renton 1993 CAFR
w
GENERAL LONG-TERM DEBT ACCOUNT GROUP
The General Long-Term Debt Account group is self-balancing and is
used to account for unmatured principal on the General Obligation
w Long-Term Debt of the City of Renton, including General Obligation
Bonds (refunded issues are excluded), installment contracts,
applicable accrued employee leave benefits and special assessments.
This indebtedness is backed by the full faith and credit of the City of
Renton.
w
w
i
Ir
w
w
•
City of Renton 1993 CAFR
GENERAL LONG TERM DEBT ACCOUNT GROUP
Page 1 of 1 •
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1993
With Comparative Totals for December 31, 1992 1993 1992 •
ASSETS:
Available in Debt Service & Capital Project Funds. $ 4,481,031 $ 4,283,477
Amount To Be Provided Long Term Debt Retirement 22,289,274 24,671,934 •
TOTAL ASSETS.................. E 26,770,'305 S28,955411
LIABILITIES:
General Obligation Bonds Payable ............... $17,225,T75 $17,363,397 -
Special Assessment Bonds Payable ............... 5,467,063 7,584,000
Accrued Employee Leave Benefits ................ 3,228,775 3,063,307
Installment Purchase Contracts ................. 448,603 613,712
Arbitrage Rebate Tax Payable ................... 400,089 330,995
TOTAL LIABILITIES
S 26,770,305 $`28,955,411' ~
r
•
•
•
•
s
•
•
•
•
100 •
r..
City of Renton 1993 CAFR
in
to
No
Ir
1993 Annual Financial Report
bw Statistical Section
ft
r
i.
1
1
1
1
1
1
Ini
City of Renton 1993 CAFR
•
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUN Page 1 of 2
INCLUDING CHANGES IN FUND BALANCES - LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS •
Ten Year General Governmental Revenue Trends
.r
M
i - — $43.2
$45 $41.2
I S37 •
i $40
o
n
$35 $29.7
s $26.9
$25,g $27.9 \' i
$30--
ti
$25
0 521 521 6 r.
f � '; 4
$20-/
o $15-
$10--
a
15S10 a ` Al
S5
s
$0-zsM
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
DESCRIPTION 1984 1985 1986' 158
REVENUES
Taxes $ 12,976,666 $ 16,015,551 $ 17,639,615 $ 19,265,841
Licenses and Permits 663,256 842,979 828,563 810,094
Intergovernmental Revenues 3,519,090 3,231,409 3,317,946 2,251,938
Charges for Services 2,519,415 403,409 (a) 410,020 446,948
Fines and Forfeits
462,651 489,276 670,817 626,088 •
Interfund Revenues 0 0 0 0
Miscellaneous 896,515 629,918 4,043,930 2,417,406
TOTAL REVENUES $ 21,037,593 $ 21,612,542 $ 26,910;891 $ 25,818,315 s
EXPENDITURES
General Government $ 2,933,863 $ 3,313,316 $ 3,527,007 $ 3,413,832
Security of Persons and Property 6,807,258 7,576,703 8,375,821 8,630,732 •
Physical Environment 2,417,624 747,963 (a) 820,107 853,691
Transportation 2,281,660 2,393,303 2,987,935 3,068,765
Economic Environment 1,001,026 1,118,401 1,376,506 1,344,017
Mental and Physical Health 48,989 76,437 201,819 200,747 •
Culture and Recreation 2,179,142 2,409,529 2,549,418 2,644,631
Capital Outlay 737,043 327,257 495,403 562,915
Debt Service 1,553,018 1,572,453 4,908,326 4,108,275
TOTAL EXPENDITURES $ 19,959,623 8 19,535,362 $ 25,242,342 $ 24,827,605
Other Increases (Decreases) (514,145) (2,127,956) (741,968) (524,062) '
Transfer In/Out, Prior Period Correction 0 0 0 0
FUND BALANCE, JANUARY 1 3,616,248 4,180,073 5,771,636 (b) 6,698,217 '
FUND BALANCE, DECEMSER:31 $ 4,180;473 .< 4,1;2:9,297a4,865'i.
Source: City of Renton Finance Department.
(a) The change of revenues and expenditures in 1985 represents the removal of the solid waste operation from the
general fund and formation of a solid waste utility reported under enterprise funds.
(b) Fund balances are restated. •
102
City of Renton 1993 CAFR
Page 2 of 2
Ten Year General Governmental Fund Balance Trends
$14.6 M
$15 i
$14
S1 $13
$12
" $11 0
n
$8. A $10 s
$9
56.2 $6.4
$8 0
$5.7 $5.8 45 $7 f
, $6
34.
$5 D
54
x
All
$3
S2 a
$1 t
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
1988 Y989 1990 1991 1992 '' 1993
$ 19,911,366 $ 21,587,371 $ 24,788,886 $ 27,169,161 $ 32,869,130 $ 31,204,165
717,366 691,646 853,258 1,156,779 1,258,803 1,145,967
2,363,848 2,276,308 3,083,320 2,948,562 2,892,682 4,297,932
530,318 1,277,780 1,290,486 2,099,067 1,610,795 1,437,069
653,326 650,059 742,446 803,176 884,692 881,016
0 0 0 0 0 0
3,968,222 3,211,659 2,808,531 3,232,891 3,684,479 2,249,836
$ 28,144,446 $ 29,694,823 $ 33,566,927 $ 37,409,636 $ 43,200,581 $ 41,215,985
$ 3,896,716 $ 4,548,894 $ 5,658,870 $ 5,045,540 $ 5,607,839 $ 5,258,009
9,448,293 10,414,800 11,313,885 12,324,533 13,551,649 15,654,019
970,075 990,521 790,466 976,822 1,157,112 1,163,369
3,352,152 3,294,786 3,387,188 2,819,625 3,074,076 2,937,977
1,480,498 2,641,202 3,097,543 3,176,411 2,893,077 3,155,164
202,528 8,485 8,892 10,601 229,013 8,983
2,764,356 3,254,427 3,573,006 4,026,495 4,291,090 4,603,052
427,639 607,810 1,342,056 541,075 4,793,884 549,412
3,952,989 4,678,024 4,303,048 4,270,821 3,947,606 3,554,238
$ 26,495,246 $ 30,438,949 $ 33,474,954 $ 33,191,923 $ 39,545,346 $ 36,884,223
(1,162,606) (154,777) 213,592 (1,094,487) (357,401) (1,831,265)
aw
0 0 0 0 0 106,593
7,164,865 6,657,894 5,758,991 6,064,556 8,726,560 12,024,394
S >7,651459 S> 5.758;991 $ 6,064,556 8 9,1'87.782' $ 12;024,39.4 $ 14,631;484r
L
L
103
City of Renton 1993 CAFR
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECT Page 1 of 2
LAST TEN FISCAL YEARS '
Ten Year Assessed Valuation Trends
B $3.4
i $3.5 $3.1 $3.1 ,
i
$3.0
0 $2.4
$2.3
n $2.5 1$2.1
g S2
31.9 51.9
$2.0-/$1.8
0
f
51.5
D
$1.0--
a $0.5
r
s $0.0
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
::>:>>::»>:»::::<::>::.E X;X::.;:.;:.;:.;:.;:.;: �:��.::::::::::::::::::.:::............................
ASSESSED VALUE DECEMBER 31:
Real Property Value $ 1,316,618,491 $ 1,428,344,874 $ 1,404,265,400 $ 1,548,554,808
Personal Property Value 456,400,663 441,326,537 452,682,766 419,320,421
.................::::.....:.......:............:......:....
CITY AND OVERLAPPING TAX RATES: (a) will
City of Renton: General Levy $ 2.48141 S 2.66666 $ 3. $ 3.25902
Special Lev 0.24621..................:::::::0.408:1:90.4465016501 0.71314
Cit of Renton. SpeY
E3e�tta496
notaf _ S 7 6 5. .
King County 1.54780 1.56652 1.73270 1.83959
Port of Seattle 0.36460 0.37786 0.40091 0.40813
Hospital District #1 0.25201 0.27673 0.26308 0.23723
Renton School District #403 1.35641 2.24799 1.45005 2.28851
State of Washington 3.31752 3.54076 3.69881 3.78389
Emergency Medical Services 0.13904 0.14372 0.25000 0.25000
9
:::::::::...::.....::...:..::.:..... :: ::::::..::.:::::::::: ::::::::::::::.. :: . ..::::. .......,::::::::... 3:1... 24 :::::5.:.::::::::::::1:2, . 9.:.::;:
T�3TAL;;Pq €? CY
..................
PROPERTY TAX LEVIES AND COLLECTIONS:
LEVY:
Original
$ 4,802,004 $ 5,740,358 $ 6,450,054 $ 7,755,547
Adjusted $ 4,732,016 $ 5,717,243 $ 6,447,924 $ 7,749,926
COLLECTIONS:
,901
Current Collections $ 4,571,517 $ 5,473,674 $ 6,236,094 $ 7,49 .
Percent of Adjusted Levy 96.61% 95.74% 96.71%
96.66%
66
.r.
Delinquent uent Collections $ 107,213 $ 115,346 $ 164,375 $ 210,915
::>::::>
- •
E3
:
tI E.
C'fl�}t�::€J�::CE#E�E�iV .....
..............::.........
PERCENT OF ADJUSTED LEVY 98.87% 97.76% 99.26% 99.38% s:>.
332,608
OUTSTANDING DELINQUENT TAXES $ 201,336 $ 274,704 $ 322,811 $
PERCENT OF DELINQUENT TAXES TO ADJUSTED L 4.25% 4.80% 5.01% 4.29%
Source: King County Department of Assessments.
(a) Property tax rates are in dollars per $1,000 of taxable property valued at 100%.
104
City of Renton 1993 CAFR
Page 2 of 2
Property Tax Allocation
Schools 28.4%
Hospital 1.2%
Port 2.2°x6
'0 t
� k
F
mw
State 24.1%
County 15.6%
EMS 1.7%
Renton 26.7%
ar
369::::::::::::.::........:.:::::..
:.;;:.;:.;:.73.
+� $ 1,579,510,236 $ 1,804,228,971 $ 1,864,385,958 $ 2,425,865,552 $ 2,466,868,427 $ 2,730,285,285
477,638,324 482,499,763 556,894,507 620,506,587 664,964,302 699,080,839
?F S ;3s6i321: : >:;> ::: 3>$ 2. :9 � 2C3r3k"aS3 �k
s
$ 3.48761 $ 3.41746 $ 3.55659 $ 3.09203 $ 3.28917 $ 3.23416
0.40764 0.34177 0.54768 0.50609 0.40324 0.41577
3:7 :.>:.;:. .;::::::::::::.;:.;!>:€:0 E 7...;:. ....: ...: :.:.;. :::::::::.::.;:.;:.;:.. .... .;
... ................::. :....::::.:.:......:
.��9#1 i 2 ............:...3 69 E $ 364 3.
1.89387 1.96262 2.05464 1.73030 1.79973 2.14039
0.43275 0.42940 0.45367 0.32332 0.34421 0.30518
0.23166 0.21891 0.21743 0.17485 0.17781 0.16238
2.02323 2.41016 2.43657 2.07349 2.13257 3.89165
3.84221 3.74197 4.04611 3.38348 3.54132 3.30069
0.25000 0.24829 0.25000 0.19911 0.25000 0.23942
:::::1.. .. F .58.::::: ..:::: . .. ::.::.::::: . :.: .. . ...
_._,... :.:: .3.659,_ 1 ..r#8 .. ._
$ 7,962,899 $ 8,621,313 $ 9,951,295 $ 10,959,734 $ 11,507,994 $ 12,436,268
$ 7,965,967 $ 8,594,394 $ 9,968,237 $ 10,763,298 $ 11,408,258 $ 12,331,892
r
$ 7,705,961 $ 8,347,835 $ 9,748,293 $ 10,455,653 $ 11,194,251 $ 11,447,085
96.74% 97.13% 97.79% 97.14% 98.12% 92.83%
$ 195,246 $ 204,613 $ 222,135 $ 204,311 $ 284,769 $ 194,799
7... .... .....6 x + : .: :; 9 9 0 42 ;::: :::::>:::::7fl 669�J84 :...: 1 , 5:02f3 1 E 641 8,94
r 99.19% 99.51% 100.02% 99.04% 100.62% 94.40%
$ 396,145 $ 343,787 $ 341,596 $ 444,930 $ 374,168 $ 572,274
4.97% 4.00% 3.43% 4.13% 3.28% 4.64%
r
'� 105
City of Renton 1993 CAFR
TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS
Ten Year Per Calita Net Bonded Debt Trends
$soo
5611 $588--T-
-/
588 I$570
$600 3509 TV, y4-. 5499 $494 $482
546 r
q
$400-/
z� b dt r
A a ,
$200-/
SO
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
DEBT SERVICE NET RATIO OF NET NET BONDED
FISCAL ASSESSED GROSS FUNDS BONDED BONDED DEBT TO DEBT'
YEAR POPULATION VALUE BC#�tDED DEBT AVAILABLE DEBT '. ASSESSED;:VALUE: PER CAPITA:
1984 33,342 2,030,798,999 11,043,488 163,654 10,879,834 0.54% 326
1985 34,030 1,852,397,097 14,949,260 15,348 14,933,912 0.81% 439
1986 34,460 1,831,398,601 19,645,786 5,423 19,640,633 1.07% 570
1987 35,360 1,950,903,657 18,703,555 709,260 17,994,295 0.92% 509
1988 36,940 2,030,493,796 17,999,781 728,030 17,271,751 0.85% 468
1989 38,480 2,286,728,734 24,295,231 799,317 23,495,914 1.03% 611
1990 39,340 2,421,280,465 23,925,377 827,930 23,097,447 0.95% 588
1991 43,000 3,046,372,139 22,472,719 1,007,850 21,464,869 0.70% 499
1992 43,090 3,131,832,729 22,318,712 1,039,480 21,279,232 0.68% 494
1993 43,470 3,429,366,124 22,258,603 1,288,208 20,970,395 0.61% 482
Source: State of Washington Office of Program Planning and Fiscal Management,
King County Department of Assessments, and City of Renton Finance Department.
106
City of Renton 1993 CAFR
TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
LAST TEN FISCAL YEARS
Special Assessment Billings and Collections
210%
180% 164.8% 1a8%
150%-/
1381% 1%
1200% 100.6%1001% k .3% s.
65%
90%-/131 + A €
60%-/ �. y
.w4=
30%
rte'
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
w�
ASSESSMENTS COLLECTION ASSESSMENTS
FISCAL; RECEIVABLE ADDITIONAL ASSESSMENT ------------ COLLECTION - AS A /o RECEIVABLE
YEA 1'/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 12/31
1984 61107,887 7,557,364 2,286,276 1,416,038 883,288 2,299,326 100.57% 12,249,213
1985 12,249,213 54,691 4,211,375 2,757,963 1,457,678 4,215,641 100.10% 9,545,941
r 1986 9,545,941 372,160 2,168,708 2,433,315 1,140,930 3,574,245 164.81% 7,484,786
1987 7,484,786 0 1,847,927 963,900 907,656 1,871,556 101.28% 6,520,886
1988 6,520,886 3,830,502 1,754,939 997,706 696,288 1,693,994 96.53% 9,353,682
1989 9,353,682 0 2,117,212 1,074,848 937,583 2,012,431 95.05% 8,278,834
1990 8,278,834 0 1,911,854 1,056,721 738,829 1,795,550 93.92% 7,222,113
1991 7,222,113 0 1,546,338 1,465,953 670,018 2,135,971 138.13% 5,756,160
1992 5,756,160 0 1,284,581 1,739,087 675,531 2,414,618 187.97% 3,876,542
1993 3,876,542 1,654,063 737,439 592,131 441,136 1,033,267 140.12% 5,110,162
Source: City of Renton Finance Department.
107
City of Renton 1993 CAFR Ir'
TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES
AS OF DECEMBER 31, 1993, AND ALL DEBT CAPACITIES - LAST TEN FISCAL YEARS
TPn Year Debf Cooacl4y Trends '
M
� 860 $54.8 $54.4
I
$49.3
$47.6
O
n $36.
s $40 $35.5 $341 335.5
$32.4332
0Excess Levy
f (Voted)
D
0 $20
I S13.6 $13.
$11.2 $9.6 $10 $1 1.5
a $5.3 ouncilmanic
r 82.3 ,'53.3'
50.6 (Non-Voted)
s
$0--
1984
O- 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
GENERAL CAPACITY SPECIAL PURPOSE CAPACITY
PARKS AND UTILITY TOTAL
DESCRIPTION COUNCILMANIC EXCESS LEVY OPEN SPADE PUflPOSES CAPACITY'
ASSESSED VALUE (1994): $3,407,827,283
2.50% of Assessed Value $ N/A $ 85,195,682 $ 85,195,682 $ 85,195,682 $ 255,587,046
0.75% of 1% of Assessed Value 25,558,705 (25,558,705) N/A N/A 0
STATUTORY DEBT LIMIT $ 25,558,705:.::*0:.. .59;63 :3 7>
General Obligation Bonds $ 11,620,000 $ 5,530,000 $ 4,660,000 $ 0 $ 21,810,000
Installment Contracts (a) 448,603 0 0 0 448,603
TOTAL DEBT OUTSTANDING $ 12,068,603 $ 5,530,000 $ 4,660,000 $ 0 $ 22 25%603:;:
Less Amount Available in Debt Service Funds $ 357,359 $ 331,731 $ 586,592 $ 0 $ 1,275,682
NET DEBT OUTSTANDING $ 11,711,244 $ 5,198,269 $ 4,073,408 $ 0 $ 20,982,921
REMAINING DEBT CAPACITY S 13,847,461 $ 54,438,708 $ 81,122,274 $ 85,195,682 $ 234,604,125
Source: King County Department of Assessments.
City of Renton Finance Department.
(a) Statutory limit = .75%of 1% of assessed value.
108
City of Renton 1993 CAFR
TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT - DECEMBER 31, 1993
M City of Renton Direct and Overlapping Debt
i
I
I
i $80
Renton $22.3
n
s $60 Hospital $1.0
0 County $18.1
f $40
Port $.619
D Hospital $37.7
0
I $20
I
a
r so-/ Ali
s
PERCENTAGEAMOUNT
NET DEBT APPLICABLE APPLICABLE
JURISDICTION OUTSTANDING TO RENTON TO RENTON
NET DIRECT DEBT:
City of Renton $22,258,603 100.00% $22,258,603
OVERLAPPING DEBT:
King County $622,466,417 2.90% $18,051,526
Port of Seattle 21,354,634 2.90% $619,284
Renton School District #403 69,089,469 54.49% $37,646,852
Hospital District#1 4,387,871 23.62% $1,036,415
TOTAL DIRECT AND OVERLAPPING DEBT $739,556;994 1.Q 76% $791612,68E:
Source: King County Department of Finance.
109
City of Renton/993 CAFR
TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS
TO TOTAL GENERAL GOVERNMENT EXPENDITURES - LAST TEN FISCAL YEARS
Ten Year Debt Service to Expenditure Ratio Trend
12%
9.45% 9.22
9% .97% r
-65%.46% 6Z
65%,46% �/ .52% 7%
6%
�/%
3%
0%
84 85 86 87 88 89 90 91 92 93
(b);,,
TOTAL GENERAL RATIO OF DEBT
FISCAL (a) (a) TOTAL GOVERNMENTAL SERVICE TO
YEAR PRINCIPAL INTEREST DEBT SERVICE EXPEND(-t.0ES EXPENDITURES
1984 518,413 1,009,030 1,527,443 19,959,623 7.65%
1985 489,228 968,165 1,457,393 19,535,362 7.46%
1986 497,590 937,319 1,434,909 25,242,342 5.68%
1987 648,922 1,330,652 1,979,574 24,827,605 7.97%
1988 666,061 1,138,226 2,504,767 26,495,246 9.45% ,
1989 752,670 1,163,653 2,545,997 30,438,949 8.36%
1990 843,440 1,699,597 3,085,244 33,474,954 9.22%
1991 1,101,827 1,452,831 2,554,658 33,191,923 7.70%
1992 1,123,341 1,355,678 2,479,019 39,545,346 6.27%
1993 1,276,160 1,304,215 2,580,375 36,884,223 7.00%
(a) Principal and Interest are based on total GO Bond debt payments made in 1993. The actual payments were made
from several funds including; debt service, enterprise, and internal services.
(b) General Government Expenditures include General, Special Revenue, and Debt Service Funds. Other Financing
Uses and Residual Equity Transfers are not included.
Source: City of Renton Finance Department 110
City of Renton 1993 CAFR
TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND AIRPORT BONDS
LAST TEN FISCAL YEARS
Water/Sewer Revenue Bond Airport Revenue Bond
Debt Service Coverage Debt Service Coverage
4 3.51 7.23 8
6.6
.9415.8
3_z .78 .63 6
28 .32 .36 4.5
1.95 .0600/ %�
7 4.0 4.023
11
2 3.41 4
2.81
1 1.4 2
J
0 ". 0
7
84 85 86 87 88 89 90 91 92 93 84 85 86 87 88 89 90 91 92 93
(a) OPERATING NET REVENUE AVERAGE ANNUAL
FISCAL GROSS EXPENSES AVAILABLE FOR --DEBT SERVICE REQUIREMENTS-- (b)
YEAR x: REVENUE WJO DEPREC DEST<SERVICE PRINCIPAL: INTEREST TOTAL COVERAGE:
WATER AND SEWER REVENUE BONDS:
1984 4,660,502 3,674,921 985,581 314,667 190,121 504,788 1.95
1985 6,261,892 4,026,109 2,235,783 356,000 281,133 637,133 3.51
1986 7,033,630 4,758,172 2,275,458 432,500 341,826 774,326 2.94
1987 8,692,585 5,626,454 3,066,131 615,789 488,726 1,104,515 2.78
1988 9,596,335 6,423,697 3,172,638 779,474 614,079 1,393,553 2.28
1989 10,307,395 6,737,270 3,570,125 597,500 1,134,654 1,732,154 2.06
1990 12,085,799 7,928,415 4,157,384 705,000 1,086,718 1,791,718 2.32
1991 13,533,090 8,856,219 4,676,871 790,000 1,473,918 2,263,918 2.07
1992 15,581,113 9,767,486 5,813,627 850,000 1,364,024 2,214,024 2.63
1993 16,809,047 10,478,147 6,330,900 1,250,000 1,429,581 2,679,581 2.36
AIRPORT REVENUE BONDS:
1984 400,840 188,004 212,836 30,000 22,880 52,880 4.02
1985 414,872 271,525 143,347 30,000 21,065 51,065 2.81
1986 418,911 338,159 80,752 35,000 19,083 54,083 1.49
1987 391,000 213,903 177,097 35,000 16,947 51,947 3.41
1988 401,394 203,445 197,949 35,000 14,253 49,253 4.02
1989 423,580 227,802 195,778 40,000 11,849 51,849 3.78
1990 508,087 217,890 290,197 40,000 9,370 49,370 5.88
1991 553,607 316,842 236,765 45,000 6,641 51,641 4.58
1992 606,852 284,410 322,442 45,000 3,828 48,828 6.60
1993 662,819 295,073 367,746 50,000 873 50,873 7.23
(a) Gross revenue includes connection charges, system development charges, and latecomer fees.
(b) Bond financing requirements are that the average annual coverage is at least 1.3 times the average annual
debt service for Water and Sewer revenue bonds. The Airport revenue bond coverage requirement is at
least 1.5 times that of respective calendar year's annual debt service.
.. Source: City of Renton Finance Department. III
City of Renton 1993 CAFR
TABLE 9: CITY OF RENTON 1991, 1992, AND 1993 RETAIL SALES BY SOURCE
Changing Sales Tax Composition
(1991 vs 1993)
t.s ,
Auto
0.6%
Services
2.5%
Construction
.4
General Retailing
Wholesale
0.6
Food and Restaurants
2.3%
Manufacturing
o.e
Transportation/Utilities
L_0.1
Finance I
-o.2�b
Other
-4% -2% 0% 2% 4%
1991 1992 1993
SOURCE AMOUNT % AMOUNT % AMOUNT %
Auto Dealers $216,493,853 20.2% $203,162,657 18.7% $218,894,515 18.6%
Services 205,344,625 19.2% 219,756,164 20.2% 232,333,025 19.8%
Construction 165,891,153 15.5% 165,021,967 15.2% 211,846,765 18.0%
General Retailing 173,571,056 16.2% 173,849,279 16.0% 150,573,350 12.8%
Wholesale 108,917,193 10.2% 101,766,928 9.3% 133,942,546 11.4%
Food and Restaurants 88,251,688 8.2% 89,099,772 8.2% 89,352,835 7.6%
Manufacturing 53,115,356 5.0% 81,873,770 7.5% 85,554,946 7.3% ,
Transportation/Utilities 42,604,599 4.0% 42,214,037 3.9% 38,097,334 3.26%
Finance 9,283,700 0.9% 9,800,944 0.9% 9,456,323 0.8%
Other 7,133,862 0.7% 2,138,220 0.2% 5,328,483 0.5%
TOTALS $1.070.60..7'085..,,100 0% ::$1,088,683,738 10o.0�Jo $#:;1: 5.380;122 .,'#00.0%
Source: City of Renton Finance Department
112
I
City of Renton 1993 CAFR
TABLE 10: LARGEST TAXPAYERS BASED ON ASSESSED VALUATION
AND PRINCIPAL EMPLOYERS
1993 REAL PROPERTY PERCENT 4F
........................................
1W ASSESSED : AS$E ^@
TAXPAYER TYPE'OF BUSINESS VALUATION VALUATEON
The Boeing Company Aerospace &Computer Services $ 440,371,400 12.84%
Safeway Grocery Store 5,246,000 0.15%
Renton Village Shopping Center 9,666,800 0.28%
Renton Talbot Delaware Inc. Property Development 42,622,100 1.24%
Puget Sound Power& Light Electic Utility 18,164,409 0.53%
L-O Renton Inc. Property Development 35,432,300 1.03%
PACCAR Heavy Manufacturing 49,069,800 1.43%
Lincoln Properties Property Development 11,267,600 0.33%
Sunpointe Associates Ltd. Property Development 19,367,200 0.56%
First City Washington, Inc. Property Development 17,797,300 0.52%
Total Assessed Valuation- Largest Taxpayers $ 649,004,909 18.92%
Total Assessed Valuation-All Others 2,780,361,215 81.08%
Tq aGAssessed V: .al..alaan 5. 3,429,366,1244 100.00%
low
1993
NUMBER OF PERCENT OF
PRINCIPAL,EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES
The Boeing Company Aerospace & Computer Services 17,800 62.06%
Valley Medical Center Medical Services 1,737 6.06%
Pacific Car & Foundry Heavy Manufacturing 1,200 4.18%
Renton School District Public Education 875 3.05%
Federal Aviation Administratio Federal Government 779 2.72%
City of Renton City Government 541 1.89%
Group Health Cooperative Medical Services 497 1.73%
Sound Ford Automobile Dealership 216 0.75%
Puget Sound Power& Light Electric Utility 201 0.70%
Container Corporation Paper Products 198 0.69%
Total Number of Employees-Principal Employers 24,044 83.83%
Total Number of Employees-All Other Employers 4,639 16.17%
Total Employees Working Within Renton; 2$,683 100.00°/0
Sourc Assessed Valuation: King County Department of Assessments.
Number of Employees: City of Renton Business License Records.
113
City of Renton 1993 CAFR
TABLE 1 1: CONSTRUCTION AND BANK DEPOSITS - LAST TEN FISCAL YEARS
Ten Year Construction Permit Valuation Trend
M
i
I
$240 '
I _s21o.5
$210
o $17 .9
n $180-/ $150.8
S $150-/
$
116.
f $120-/ 5104.2 00.2 4
$90- 2
0 ,
� $60
I
I $30
a
r $0
S 84 85 86 87 88 89 90 91 92 93
COMMERCIAL RESIDENTIAL OTHER
CONSTRUCTION CONSTRUCTION CONSTRUCTION
FISCAL NO. OF DOLLAR NOI'OF DOLLAR NO. OF DOLLAR TOTAL CONSTRUCTION BANK
YEAR PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE DEPOSITS
1984 166 11,569,564 302 19,691,904 1,683 45,436,010 2,151 76,697,478 503,083,000
1985 226 53,555,155 407 20,783,550 2,136 42,271,193 2,769 116,609,898 548,263,839
1986 299 57,148,373 504 15,777,533 2,164 31,283,569 2,967 104,209,475 572,339,374
1987 300 22,780,183 485 31,533,133 2,195 25,858,586 2,980 80,171,902 623,806,785
1988 267 82,071,089 367 22,580,043 2,501 46,138,173 3,135 150,789,305 653,566,247
1989 381 50,116,503 404 20,087,755 3,030 29,945,417 3,815 100,199,678 660,210,406
1990 486 58,447,140 376 41,611,035 3,000 44,510,780 3,862 144,568,955 693,220,920
1991 456 92,051,058 228 11,398,725 3,056 70,416,364 3,740 173,866,147 762,933,117
1992 463 123,880,681 203 11,390,193 2,860 75,229,812 3,526 210,500,686 801,079,773
1993 469 28,616,096 1 141 8,136,327 2,954 61,633,205 3,564 98,385,628 N/A
Source: Construction permits and values-City of Renton Building Department.
Bank Deposits-Greater Renton Chamber of Commerce.
114
City of Renton 1993 CAFR
TABLE 12: DEMOGRAPHIC STATISTICS - LAST TEN FISCAL YEARS
P Ten Year Population Trends
0
P
U
I
t 50-
i 43 43.1 43.5
0 38.5-39.3
n 40 35.4 36.9
33.3 34 34.5
i
n 30
T
h 20
0
U
S
10
a
n
d 0
s 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
PER
FISCAL CAPITA MEDIAN SCHOOL UNEMPLOYMENT
YEAR POPULATION INCOME AGE ENROLLMENT RATE
1984 33,342 16,438 32.40 12,005 7.40%
1985 34,030 17,386 32.70 11,953 6.30%
1986 34,460 18,348 33.20 11,981 6.10%
1987 35,360 19,427 33.40 11,950 5.70%
1988 36,940 20,624 33.80 11,855 4.60%
1989 38,480 22,010 34.10 11,902 4.40%
1990 39,340 16,298 32.00 11,823 3.30%
1991 43,000 N/A N/A 11,679 4.60%
1992 43,090 N/A N/A 11,954 5.60%
1993 43,470 N/A N/A 11,988 6.30%
Source Population- State of Washington Office of Program Planning and Fiscal Management.
Per Capita Income- Puget Sound Council of Governments.
Median Age-Office of Financial Management.
School Enrollment- Renton School District 403
Unemployment Rate- Employment Secuhly, Labor Market and Economic Analysis Department.
City of Renton 1993 CAFR
TABLE 13: MISCELLANEOUS STATISTICS
WASHINGTON STATE
British Columbia
QQ o0
Everett
p ®Seattle Spokanee
'Renton Idaho
0Olympia
Oregon
DATE OF INCORPORATION...........................................September 6,1901 TRAFFIC SIGNALS '
FORM OF GOVERNMENT....................................................Mayor-Council Number of Signalized Intersections.........................................................94
TYPE OF GOVERNMENT........................................Non-Charter,Code City
LOCATION..............................................................11 Miles South of Seattle STREETS
LAND AREA.......................................................................16.6 Square Miles Miles of Streets and alleys................................................................190.07
RANK IN SIZE-STATE OF WASHINGTON..............................................11
RANK IN SIZE-KING COUNTY...................................................................4 UTILITY SERVICES
POPULATION(Official April,1993)......................................................43,470 Water:
ASSESSED VALUATION.........................................................3,429,366,124 Total Customers...............................................................................12,472
CITY EMPLOYEES(Full Time Equivalents/FTE)..................................540.7 Total Gallons of Water Produced.........................................2,326,870,000
Number of Fire Hydrants....................................................................2,273
Miles of Water Main..........................................................................224.63
ELECTION&VOTER REGISTRATION
Number of Precincts................................................................................66 Sanitary Sewer:
Number of Registered Voters...........................................................22,185 Total Customers...............................................................................10,319
FIRE PROTECTION
Fire Rating(Washington Survey and Rating Bureau)...............................4 Storm Drainage:
Number of Commissioned Fire Fighting Personnel..............................109 Number of Accounts.........................................................................10,916
Number of Stations...................................................................................3 Miles of Storm Sewers......................................................................165.44 '
Total Fire Loss..........................................................................$1,231,300
Number of Life Support Responses...................................................4,778 LICENSE&PERMITS
AllOther Responses..........................................................................2,185 Business Licenses..............................................................................2,860
Total Number of Responses..............................................................6,963 Amusement and Special Permits..........................................................325
Animal Licenses(Dog and Cat)........................................:................3,426
POLICE PROTECTION
Number of Commissioned Police Personnel..........................................79 AIRPORT
Number of Calls for Services...........................................................42,568 Area in acres....................................................................................167.21
Total Crimes Reported(Class 1,II,III)..............................................10,282 Feet of Asphaltic Concrete Runway...................................................5,379
Traffic Accidents Investigated............................................................1,648 Total Operations.............................................................................116,687
All Other Traffic Violations..................................................................8,387
LIBRARY
PARKS&RECREATION Libraries(Main and Highlands Branch).....................................................2
Total Acreage...................................................................................645.74 Total Registered Borrowers................................................................9,982
Number of Parks and Playgrounds.........................................................26 Total Circulation..............................................................................281,647
116
r
r
r
Staff who contributed their time and talents on this project are James Block,
Enola Christian, Sherri Crawford, Linda Dixon, Tracy Forler, Paula Henderson,
Carol Hensley, Linda Honeycutt, Marji Mar, Hugh Simpson, Debbie Willard, and
r Lori Wood.
Software used to create the final product includes Lotus 1-2-3, Allways, Microsoft
Word for Windows 2.0 and 6.0, and Micrografx Charisma, all operating under Windows
3.1.
,. The document was produced and printed in-house using an HP Laserjet IV printer and
a Kodak Ektaprint 235 copier.
Thank you to all who contributed to the CAFR.
Victoria Runkle
r