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1995 CAFR
I i� \ 4 ' tl� 1995 ................... I CITY Off` REIeT' . -L q Comprehensive Annual F����ei al Report I (For the year ended December 31,1995) I 200 Mill Avenue South - Renton, Washington 98055 (206)235-2558 bw The City of Renton, Washington Comprehensive Annual Financial Report For the Year Ended December 31, 1995 CITY OF RENTON JUL 0 1 1996 rYGv CiYC� CITY CLERK'S OFFICE v Introductory Section r. bw r 6 k y u h Victoria A. Runkle Finance and Information Systems Administrator COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1995 TABLE OF CONTENTS ITEM PAGE INTRODUCTORY SECTION ' CityOrganization Structure&Reporting Relations..................................................................................................................................................................ttt 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..............................................................I 1 Combined Statement of Cash Flows Proprietary and Similar Trust Fund;............................................................................................................................12 ' Notes to Financial Statements Note1: Significant Accounting Policies..........................................................................................................................................................................19 ReportingEntity...........................................................................................................................................................................................19 Basisof Presentation-Fund Accounting....................................................................................................................................................19 ' Basisof Accounting.....................................................................................................................................................................................20 Budgetsand Budgetary Accounting.............................................................................................................................................................20 Assets,Liabilities and Fund Equity..............................................................................................................................................................21 Cashand Cash Equivalents...................................................................................................................................................................21 Investments............................................................................................................................................................................................21 Inventories.............................................................................................................................................................................................21 PropertyTaxes Receivable....................................................................................................................................................................21 AssessmentsReceivable........................................................................................................................................................................21 FixedAssets and Depreciation..............................................................................................................................................................21 , AccumulatedUnpaid Vacation&Sick Pay...........................................................................................................................................22 FundEquity-Reserves&Designaions ...............................................................................................................................................22 Direct Charges/Credits to Enterprise Funds Retained Earnings............................................................................................................22 RiskManagement and Risk Retention..................................................................................................................................................22 , Note 2: Stewardship,Compliance and Accountability....................................................................................................................................................22 Note3: Cash&Investments............................................................................................................................................................................................22 Note4: Deferred Compensation......................................................................................................................................................................................23 Note5: Receivables and Payables...................................................................................................................................................................................24 , Note 6: Operating and Residual Equity Transfers...........................................................................................................................................................25 Note7: Fixed Assets........................................................................................................................................................................................................26 Note8: Prepaid Items......................................................................................................................................................................................................27 Note9: Joint Ventures.....................................................................................................................................................................................................27 Note 10: Pension Plan&Other Postemployment Benefits...............................................................................................................................................29 PERSand LEOFF.........................................................................................................................................................................................29 Firemen's Pension.........................................................................................................................................................................................30 Note11: Construction Commitments...............................................................................................................................................................................31 Note12: Long-Term Debt................................................................................................................................................................................................32 ' Note13: Deferred Charges in Proprietary Funds..............................................................................................................................................................36 Note 14: Reservations and Designations of Fund Equity.................................................................................................................................................36 Note 15: Segment Information for Enterprise Funds........................................................................................................................................................36 Note16: Litigation............................................................................................................................................................................................................37 Note17: Risk Management..............................................................................................................................................................................................37 COMBINING FINANCIAL STATEMENTS AND SCHEDULES OF INDIVIDUAL FUNDS AND ACCOUNT GROUPS: a� General Fund: ComparativeBalance Sheet...............................................................................................................................................................................................40 Statement of Revenues,Expenditures,and Changes in Fund Balance..............................................................................................................................41 Statement of Revenues,Expenditures,and Changes in Fund Balance Budget and Actual...............................................................................................42 ri i r COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1995 TABLE OF CONTENTS-CONTINUED ITEM PAGE Special Revenue Funds: CombiningBalance Sheet.................................................................................................................................................................................................44 Combining Statement of Revenues,Expenditures,and Changes in Fund Balances.........................................................................................................46 Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual...........................................................................48 Debt Service Funds: .. Combining Balance Sheet.................................................................................................................................................................................................56 Combining Statement of Revenues,Expenditures,and Changes in Fund Balances.........................................................................................................58 Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual...........................................................................60 vital Project Funds: CombiningBalance Sheet.................................................................................................................................................................................................68 Combining Statement of Revenues,Expenditures,and Changes in Fund Balance..........................................................................................................70 Combining Statement of Revenues,Expenditures,and Changes in Fund Balances Budget and Actual...........................................................................72 Enterprise Funds: CombiningBalance Sheet.................................................................................................................................................................................................78 Combining Statement of Revenues,Expenses,and Changesin Fund Equity....................................................................................................................80 CombiningStatement of Cash Flows................................................................................................................................................................................82 Internal Service Funds: CombiningBalance Sheet.................................................................................................................................................................................................88 Combining Statement of Revenues,Expenses,and Changes in Fund Equity....................................................................................................................89 .. Combining Statement of Cash Flows................................................................................................................................................................................90 Fiduciary Funds: CombiningBalance Sheet.................................................................................................................................................................................................92 .. Firemen's Pension Trust Fund Comparative Statement of Revenues,Expenses,and Changes in Fund Equity.................................................................94 Firemen's Pension Trust Fund Comparative Statement of Cash Flows.............................................................................................................................95 Combining Statement of Changes in Assets and Liabilities AllAgency Funds.................................................................................................................96 General Fixed Asset Account GrouZ ComparativeBalance Sheet...............................................................................................................................................................................................98 Schedule of General Fixed Assets by Source....................................................................................................................................................................99 Schedule of General Fixed Assets by Function and Activity...........................................................................................................................................100 Schedule of Changes in General Fixed Assets by Function and Activity........................................................................................................................100 General Long-Term Debt Account Group: ComparativeBalance Sheet.............................................................................................................................................................................................102 „. STATISTICAL SECTION Table 1: General Government Revenues&Expenditures-Last Ten Fiscal Years...........................................................................................................104 Table 2: Assessed Value,Property Tax Rates,Levies and Collctions-Last Ten Fiscal Years........................................................................................106 �. Table 3: Ratio of Net General Obligation Debt to Assessed Value&Net Bonded Debt per Capita-Last Ten Fiscal Years..........................................108 Table 4: Special Assessment Billings and Collections-Last Ten Fiscal Years................................................................................................................109 Table 5: Computation of Legal Debt Margin-December 31, 1992.................................................................................................................................110 Table 6: Computation of Direct and Overlapping Debt-December 31, 1992..................................................................................................................111 Table 7: General Obligation Bonds/Expenditure Ratio-Last Ten Fiscal Years...............................................................................................................112 Table 8: Revenue Bond Coverage-last Ten Fiscal Years................................................................................................................................................113 Table9: Retail Sales By Source........................................................................................................................................................................................114 Table 10: Largest Taxpayers and Principal Employers......................................................................................................................................................115 Table 11: Construction and Bank Deposits-Last Ten Fiscal Years..................................................................................................................................116 .. Table 12: Demographic Statistics-Last Ten Fiscal Years.................................................................................................................................................117 Table13: Miscellaneous Statistics....................................................................................................................................................................................118 ii City of Renton 1995 CAFR CORPORATE ORGANIZATION AND REPORTING RELATIONSHIPS RENTON'S MISSION STATEMENT ti 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. Toni Nelson, President Jesse Tanner Dan Clawson ---- Randy Corman Mayor HUMAN RESOURCES&RISK MGMT Bob Edwards Kathy Keolker-Wheeler Beverly NLGISode King Parker Human RTim Schlitzer Risk Mgmt PLAN/BLDG/PUBLIC WORKS EXECUTIVE DEPARTMENT FINANCE&INFORMATION SERVICES ' Gregg Zimmerman City Attorney ) ((E xecujtive Assistant Administrator Larry Warren Jay Covington Victoria Runkle Administrator Development Transportation Services Director Systems Director Hearing Examiner Municipal Court Jim Hanson Mel Wilson Fred Kaufman Judge Financial Fiscal Roger Lewis Planning Mgr Services Director Planning/Tech Utilities Paula Henderson Hugh Simpson Services Director Systems Director Mike Katterma m Ron Olsen City Clerk Marilyn Petersen InService'sn Maintenance Services Director Jack Crumley FIRE DEPARTMENT POLICE DEPARTMENT COMMUNITY Lee Wheeler IIAlan Wallis Chief Chief Sam Chastain Administrator Jim Matthew Garry Anderson Don Persson Recreotion Director Library Director Deputy Chief Deputy Chief Deputy Chief Terry Higashiyama Clark Petersen ' Suppression — �— Glen Gordon Prevention Operations Support Services Facilities Director Human Services Art Larson Bureau Bureau Manager ' Gary Gotti Deputy Chief/ Jim Shepherd Ray Barilleaux Karen Marshall Battalion Chief Fire Marshal Investigation Crime Prev Patrol/Traffic Adm Sv/Training Animal Control Staff Sery LarksDiector Gambling Enforcmt Jail Betich Emerg Mgt/Safety Support Services , Larry Eager Kris Hanson Battalion Chief Battalion Chief iii CITY OF RENTON =LL Finance & Information Services Jesse Tanner,Mayor Victoria A. Runkle, Administrator Ao Honorable Jesse Tanner, Mayor June 25, 1996 Members of the Renton City Council City of Renton 200 Mill Avenue South Renton,WA 98055 Dear Mayor and Council Members: TRANSMITTAL OF 1995 COMPREHENSIVE ANNUAL FINANCIAL REPORT This correspondence transmits a copy of Renton's Comprehensive Annual Financial Report for the year ending December 31, 1995. 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) Accomplishments and Challenges/Major Program Initiatives;4)Financial Information;and 5)Other Information. INTRODUCTION 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 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, 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 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. iv �. ®This paper contains 50%recycled material,25%post consumer City of Renton 1995 CAFR 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 Renton continues to enjoy a steady and constant growth pattern. Between 1994 and 1995, the City's overall population increased ' by 2.0 percent. While Boeing's overall employment decreased in 1995, the City experienced an actual increase in small business employment of 1.4 percent. In addition,Renton is diversifying its employment base. In 1995, there was growth in retail business employment and expansion in different manufacturing areas. Our total property assessed valuation grew by 4.3 percent. Retail sales were 9.7 percent above last year. All trends illustrate a growth pattern that is sustainable. The population in Renton has increased by 30 percent over the past decade. The City of Renton Population Growth ' graph at right shows this trend, current population, and estimated growth through 50,000 the year 2000. We have sustained an 40,000 - overall population growth rate of two 0 percent over the past five years. 30,000 a 20,000 The City's commercial base is comprised a. 10,000 , of Boeing office complexes and manufacturing plants, general office buildings throughout the City, and a 1986 1995 2000 growing retail base. The Boeing Year employment decrease in 1995 was due to an early retirement program. Immediately in 1996, Boeing has announced an actual increase in employment of 8,200 employees. Boeing announced that its production for 737 planes was going from less than 10 a month to 27 by 1997. This will translate into a stable employment base over the rest of the century. Also, while Boeing reduced its workforce, Paccar increased its workforce by closing down its Tukwila plant and transferring jobs to the new Renton facility. After three years of a high office vacancy rate, the large office park areas are beginning to be rented again. At the beginning of 1995, we had a 24.3 percent vacancy rate. By the end of the year, the rate had dropped to 17.1 percent. This trend fluctuates dramatically,but we expect to end 1996 with the same,or lower,vacancy rate. The 9.7 percent increase in retail sales was due primarily to three different areas. First, car sales increased both in terms of dollars and in the number of dealerships within the City. Second, the City is experiencing a change in the small business sector. While this sector does not contribute large dollars, the overall growth reflects the health of the City. We are seeing growth in shopping areas around major retail stores. Third,we have several new significant large retailers adding to our base growth. Car sales comprise 20.4 percent of our total retail sales. The car sales trended the national receipts, and experienced an overall increase of 6.8 percent between 1994 and 1995. The national chain, HomeBase, a hardware megastore, opened in late 1995. This additional store continued the trend of developing large retailers in the south corridor of the City. The City's housing inventory expanded in 1995 by 161 finished units with a doubling of 1994's valuation. This trend will also ' continue through 1996 as a major development known as the Orchards will be completed. Overall home sales remained consistent over the previous year. V City of Renton 1995 CAFR ACCOMPLISHMENTS AND CHALLENGES/MAJOR PROGRAM INITIATIVES In 1995, the City focused on two areas of service levels: strengthening the City's long-term fiscal health and continuing service improvement. The goal is to accomplish both, while emphasizing efficiency and effectiveness. Within these parameters, the City was able to accomplish some very critical changes. In 1995,the City began a strategy to address long-term needs in the areas of fleet management and information technology. With the addition of a fleet manager and assistant in 1995,the City has been able to identify the actual life and use of each vehicle in the City's ownership. In addition, this process will translate into reducing the fleet, developing a long-tern replacement program, and minimizing the use of debt to replace aging vehicles. With a total fleet inventory of over 300, including everything from passenger cars to heavy equipment, it is imperative that the City continue to adhere to a cohesive policy for a long-term solution. The City has experienced a revolution in the area of technology. In 1995 the City was able to implement a new automated library system. With the achievement of installing a new mainframe, over 15 work stations, and interconnectivity with various other agencies, the City can now share library resources with King County. This will permit the City and the County to share resources and maximize limited funds. With the new library system,the City also expanded its Wide Area Network(WAN). By the end of 1995, the City had all library and recreation sites connected to the City's Local Area Network system. This is permitting electronic mail and other document transfer applications to occur between all departments within the City. Over 40 new personal computers were connected in eight different locations. In 1996,the City will complete the Wide Area Network by connecting the Police and Fire Departments,with a total of 400 computers connected City-wide. The City ended 1995 with a signed contract with the City of Newcastle for police services. The contract begins in 1996 and will be evaluated after 1997. However, it permits both cities to continue to provide service based upon a geographic area and common interests. The Fire Department completed its first full year of merged services with Fire District 25 in 1995. The addition of the station to �. the City permits the City to serve not only county residents, but better respond to residents in the east part of the City. This new station freed up resources at one of our more centrally located stations, permitting better response times to the north section of Renton. Renton citizens were provided with many new recreational opportunities during this past year. First, the City extended the Cedar River Trail. It now stretches from the mouth of the Cedar River on Lake Washington to the eastern limits of the City. It is over seven miles in length. The trail also passes through the City's 52-acre acquisition of the historical brick-making plant, known as Narco. The City completed the purchase and transformation of the 52-acre site into an open space area,that, in the future, will be developed with trails and other recreational amenities. At the trail's end is the City's most recent development, Maplewood Golf Course. In 1995, the City assumed full management of the Golf Course, originally purchased in 1985. Over the past year, the City built a new driving range, clubhouse, restaurant and meeting space. The Golf Course operation has performed above expectation. The City has continued to improve its overall transportation and utility infrastructure. Major improvements were made to the Boeing plant area with the widening and redesign of Park Avenue. The area now has a center strip with trees and flowers. The Sunset and East Kennydale Sewer Interceptors were designed for construction in 1996. These sewer projects will permit continued residential growth in the areas where the City has undeveloped land. In 1995, the City made a concerted effort to communicate with citizens. We began to produce the monthly Renton Report in the community's new local bi-weekly newspaper. This format provides us with a guarantee of delivery to every address in Renton. It gives us two high-profile pages to work with,and furnishes us with a forum to discuss events in multiple locations. We also began to broadcast the Council meetings and other civic events. The Council meetings are telecast live on Monday nights and replayed several times during the week. City-sponsored events are recorded and played, as well as public service announcements. Vi City of Renton 1995 CAFR We were able to measure the success of these programs, in addition to general citizen satisfaction,through the use of focus groups and a survey instrument. Using these tools, the City discovered that citizens were generally satisfied with the overall level of service. They felt that the efforts to communicate through the Renton Report and the cable channel were good. Several stated in the focus groups that Renton was the"hidden jewel" of King County. We hope to use this survey as a benchmark, and survey once every two years. The general future for Renton looks positive. Boeing continues to be competitive in a world economy, and the planes made in Renton,the 737 and the 757, will remain a foundation for the company. Our efforts in creating an Automall on the West entrance , of the City is meeting with success, and should be fully developed by the end of 1997. Continued expansion of major retailers is expected in 1996 with the opening of a Walmart and a 12 multi-plex theater. We see a constant pattern of progress in the housing market. Along with this comes a natural addition to population. This paradigm of growth permits us to meet citizen needs without critical shifts in any one year. The economic development program started three years ago is showing real benefits to the City. We are managing our destiny. The challenge for the remainder of the century will be to work with the State, communicating to them how their decisions adversely , impact our ability to provide services. The State has changed the law to exempt manufacturing, repair and research, and development goods and services from paying sale taxes. This is a serious undermining of our ability to continue to provide services. In addition, the State is examining ways to change the property tax structure. While we understand the State's overall competitiveness requirements, it is imperative they understand that we need to have a base level of funding to continue services. ' This will be our greatest challenge over the next two years. FINANCIAL INFORMATION section of the transmittal letter will discuss accountin ud eta controls and summarize the operating The financial informationgib g ry p g 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. Vii City of Renton 1995 CAFR General Governmental Revenues General Governmental operations consist of General Fund, Special Revenue Funds and Debt Service Funds. The following table and graph summarize the revenues by source for 1993, 1994 and 1995. General Government Revenues 1995 1994 1993 94/95 and Other Sources Amount % Amount % Amount % %Ch Property Taxes $ 13,678,790 21.2% $ 13,210,307 21.6% $ 11,904,568 17.7% 3.5% Sales Taxes 11,522,308 17.9% 10,212,643 16.7% 10,525,696 15.6% 12.8% Utility Taxes 6,226,900 9.6% 5,741,604 9.4% 5,617,061 8.3% 8.5% Other Taxes 2,542,169 3.9% 1,621,428 2.7% 3,156,840 4.7% 56.8% Licenses and Permits 1,236,046 1.9% 1,310,570 2.1% 1,145,967 1.7% -5.7% Intergovernmental Revenues 4,343,249 6.7% 4,998,676 8.2% 4,297,932 6.4% -13.1% Charges for Services 4,818,352 7.5% 4,736,891 7.7% 4,437,069 6.6% 1.7% Fines and Forfeits 998,553 1.5% 1,107,780 1.8% 881,016 1.3% -9.9% Interest 1,522,781 2.4% 1,100,821 1.8% 1,015,369 1.5% 38.3% Miscellaneous Revenue 1,558,102 2.4% 1,734,992 2.8% 1,234,467 1.8% -10.2% Sub-total Revenues 48,447,250 75.1% 45,775,711 74.8% 44,215,985 65.7% 5.8% Other Financing Sources 254,640 0.4% 770,664 1.3% 11,039,750 16.4% -67.0% Be inning Fund Balance 15,845,156 24.5% 14,631,484 23.9% 12,024,694 17.9% 8.3% Total Resources and $ 64,547,046 100.0% $ 61,177,859 100.0% F67,280,429 100.0% 5.5% Fund Balance - --- General Governmental Revenue Comparison By Source 14,000,000 12,000,000 10,000,000 _ ffi 0 8,000,000 6,000,000 4,000,000 - A ®1993 2,000,000 - _ 1994 - p 1995 :i�7 ams x N x C ? O C r N q O � a d V A o } FA v, v w d p y = d y n' rn } c 0 c .,r d , -5 O v a c S(h V_ J u Revenue Category The 1995 General Governmental revenues totaled $48.4 million, an increase of 5.8% over 1994. The following addresses significant revenue changes by source for 1995 and 1994: 1) Property Taxes- Increase is due to annual maintenance of 6% and a decrease in assessed property values. 2) Sales Taxes - Increase is due to inflation pressures on sales prices and new business openings. 3) Utility Taxes-Increase is attributable to population increases and higher than anticipated utility tax revenues for gas, solid waste, and cellular phones. 4) Other Taxes - Increase is due to elevated real estate excise and gambling taxes 5) Licenses and Permits-Decrease is attributable to a decline in the value of building permits being issued. 6) Intergovernmental Revenues- Decrease is due to a transition in the Public Health contract and various incorporations. 7) Interest Revenue - Increase due to higher interest rates and more dollars to invest. viii City of Renton 1995 CAFR General Governmental Expenditures The City's General Governmental operating expenditures and other uses include the General,Special Revenue and Debt Service Funds. The following table and graph summarize expenditures by function. General Government 1995 1994 1993 94/95 Expenditures and Other Uses Amount % Amount % Amount % I %Ch General Government $ 7,807,624 12.1% $ 7,570,561 12.4% $ 7,058,009 11.0% -3.13% Security of Persons/Property 17,187,719 26.6% 17,272,774 28.2% 16,454,019 25.6% 0.49% ' Physical Environment 1,520,374 2.4% 1,585,936 2.6% 1,363,369 2.1% 4.13% Transportation 4,947,622 7.7% 4,423,529 7.2% 3,137,977 4.9% -11.85% Economic Environment 3,606,022 5.6% 3,552,526 5.8% 3,155,164 4.9% -1.51% , Mental and Physical Health 7,843 0.0% 10,755 0.0% 8,983 0.0% 27.08% Culture and Recreation 5,130,721 7.9% 4,952,547 8.1% 4,603,052 7.1% -3.60% Capital Outlay 494,585 0.8% 547,281 0.9% 549,412 0.9% 9.63% Debt Service 3,347,293 5.2% 4,289,678 7.0% 3,554,238 5.5% 21.97% , Sub-total Expenditures 44,049,803 68.2% 44,205,587 72.3% 39,884,223 61.9% 0.35% Other Financing Uses 2,851,570 4.4% 1,127,116 1.8% 12,871,015 20.0% -153.00% Ending Fund Balance 17,645,673 27.3% 15,845,156 25.9% 14,631,484 22.7% -11.36% ' Total Expenditures/ $ 64,547,046 100.0% $ 61,177,859 100.0% $ 67,386,722 100.0% -5.51% Fund Balance General Governmental Expenditure Cor parison By Function ' 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 , `t' 6,000,000 4,000,000 2,000,000 ®1993 0 M 1994 c n c a v y v ° o z3 o ° �� a� c'n 01995 ' c v Q, a w F' Ww a CC d td, �_ ❑ � U Expencfttre Category , Expenditures for general governmental functions totaled$44.0 million in 1995, a decrease of.4%over 1994. All of the bargaining units within the City received a cost of living increase in 1995 ranging from 2.0%to 3.5%. During 1995, 88 %of the City's work force was included in these general governmental funds. Overall, non-personnel related costs decreased throughout City in 1995. The following identifies major fluctuations between 1995 and 1994 in governmental fund type expenditures: 1) General Governmental - Increases in salaries and health benefits. 2) Transportation - Increases in salaries and health benefits and increased Department of Transportation Grant expenditures. General Governmental Fund Balance The table and graph on the next page provide a summary of General Governmental revenues, expenditures and fund balance for 1993, 1994, and 1995, which includes General, Special Revenue and Debt Service Fund types. The 1995 revenue increased 5.8%, and expenditures decreased 0.4%. The 1995 revenues exceeded expenditures by ix City of Renton 1995 CAFR 4.4 million dollars. Although, the total ending fund balance increased by only $1.8 million. It is important to note that the majority of this fund balance is designated for special purposes and is not available for appropriation. General Government Revenues,Expenditures 1995 ]994 [:: 1993 1994/1995 and Fund Balance %Change Total Revenues $ 48,447,250 $ 45,775,711 $ 41,215,985 5,8% Total Expenditures 44,049,803 44,205,587 36,884,223 0.4% Excess of Revenues over Expenditures 4,397,447 1,570,124 4,331,762 180.1% Other Increases(Decreases) (2,596,930) (356,452) (1,724,672) 628.5% Fund Balance January1 15,845,156 14,631,484 12,024,394 8,3% Fund Balance December 31 $ 17,645,673 $ 15,845,156 $ 14,631,484 11.4% General Governmental Fund BalanceAnalysis--- ------� 50,000,000 20,000,000 W U CL 40,000,000 c X 15,000,000 `M 30,000,000 m 10,000,000 c 20,000,000 ii 10,000,000 5,000,000 603� 0 0 1993 1994 1995 �. Year ®Revenues Expenditures 4 12/31 Fund Balance 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. ir. Waterworks Air ort Solid Waste Golf Course Item(000's) 1994 1995 1994 1995 1994 1 1995 1994 Operating Revenues $ 18,682 $ 16,663 $ 676 $ 684 $ 6,223 $ 6,135 $ 1,073 $ 867 Operating Exp.w/o Depr 13,187 11,501 318 326 6,373 6,303 767 561 Operating Inc.w/o Depr 5,495 5,162 358 358 (150) (168) 306 306 General Fund Reimb 2,178 3,122 43 48 236 295 0 21 Reimbursement as a%of Operating Expense 16.52% 27.15% 13.52% 14.72% 3.70% 4.68% 0.00% 3.74% Available for Debt Service 7,594 6,765 N/A N/A N/A N/A 717 757 Debt Service Coverage 2.43 2.25 N/A N/A N/A N/A 1.70 1.81 Retained Earnings 1 $ 13,8021 $ 11,3521 4,1281 3,7051 600 $ 678 $ 2,624 $ 2,426 Each year the Council analyzes the budgets,capital improvement programs(CIP)and the rates for all four of the City's utilities. In 1► addition,the Council reviews the increase in sewer rates by King County(formerly METRO) for the transport and treatment of all I x City of Renton 1995 CAFR 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, 1995, the Council approved an overall increase to utility rates of 6.3%. The Water utility experienced a 3% increase; solid waste rates grew by 6%; Wastewater rates were 5% above 1994 levels; the Metro pass-through rate increase was 12.9°/x;and another 23 cents or 4.6%was added to the Surface Water rates. These rate increases were significantly lower than previous years. The City has completed a period of major water infrastructure , improvements. Thus, the water increases are expected to be no higher than inflation over the next few years. The City's total monthly utility bill was$50.36 in 1995. Over the course of the next few years,the City's Utility Capital Improvement Program will concentrate on replacement of aged infrastructure. The City's main lines are somewhere between 50 and 80 years old. The focus , will be to replace major lines that are 80 years old. The Golf Course represents the City's other major Enterprise Fund. We opened a new driving range and restaurant facility in October 1995. All indications are the facility will be quite successful. , 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 300 City vehicles and auxiliary equipment by charging user departments a rental fee. In 1995 the City spent nearly $715,000 to purchase 29 new and replacement vehicles. The vehicles included large mowers,police vehicles,motorcycle and regular maintenance vehicle requirements. 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. 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 1995, 582 employees with 1,051 dependents, 18 Cobra and 79 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. This is being done with lower than expected insurance costs and by dedicating surplus monies to the fund balance. Currently, the operating reserve is 6%. The operating reserve is targeted at 8% of the general governmental .. expenditures (General, Parks, Street,Library, and Limited Debt Service Funds). The City will continue to strive to meet its target of an 8%operating reserve. Item Medica7l Dental & Workers Unemploy [tem Medical Dental Total Liability Comp Com Claims Paid 1,662,89 497,39 596,34 369,29 61,16 3,187,10 Excess Loss Coverage 50,00 429,68 479,68 Administrative Fees 148,72 73,83 107,92 330,48 Total Costs 1,861,62 497,.39 1,099,86 477,22 61,16 3,997,27 Premium Received 2,170,62 482,61 1,275,75 424,64 46,15 4,399,79 ur lus(Deficiency) 308,99 (14,779 175,89 (52,575 (15,014 402,52 Debt Administration The graph on the next page displays the debt outstanding for the General Obligation Debt Payments over the course of the life of the debt. As illustrated,the City's debt is completely retired in the year 2009 with most of the debt paid off by the year 2007. In 1995, we added to the lease payments for a period of three years with the purchase of property in the downtown core to facilitate the development of a downtown transit hub. This was the only additional debt incurred in 1995. — We have $10.2 million outstanding in Limited General Obligation Debt (Councilmanic) with a principal amount paid of $1,230,000 in 1995. There is an obligation of$185,569 in leases,however,we paid over$282,728 in lease payments in 1995. We have retired the debt for the phone system and other campus property in 1995. The City has only two Unlimited General xi City of Renton 1995 CAFR Obligation issues. The Senior Housing Debt has$5.1 million in principal outstanding;the Coulon Park purchase has$3.5 million a outstanding. We paid a total of$775,000 against the principal in 1995. General Obligation Annual Debt Service Payments 3,500,000 3,000,000 �UTGO D 2,500,000 17 Leases o aLLTGO — I I 2,000,000 a s 1,500,000 , 1,000,000 500,000 4 0 1995 1996 19971998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Year In addition to the General Obligation debt, the City normally borrows to pay for enterprise infrastructure. As of December 31, .. 1995 the principal outstanding for this type of debt totaled$33.4 million. Of this total, $5 million is for the construction of the new Golf Course facility. The 1995 annual debt service payment was $3.1 million. The City is not making any debt service payments on the Golf Course debt until 1996. The following graph illustrates our overall revenue debt service payments through retirement. Revenue Debt Service Payments 4,000,000 Golf Rev 3,500,000 - Dollars 3,000,000 Water Per 2,500,000 Year 2,000,000 1,500,000 1,000,000 500,000 0 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 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 I 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 xii City of Renton 1995 CAFR 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 1995, the average interest rate earned by the State Investment Pool was 5.825%, compared to the 6.01%earned by the City. The following table compares 1995, 1994 and 1993 investment activity. , Item 1995 1994 1993 95/94 Chan e Average Invested Balance $ 48,525,308 $ 42,987,446 $ 37,655,112 12.9% Average City Interest Rate 6.01% 5.03% 4.55% 19.5% , Average State Pool Rate 5.83% 4.24% 3.41% 37.4% Total Interest Earnings $ 2,916,371 $ 2,177,879 $ 1,805,166 33.9% Investment Activity Analysis ' 7.00% 3,000,000 m 6.00% 2,500,000 �' CU Ave City Int Rate , 5.00% 2,000,000 M 4.00% w Ave SIP Rate 0 1,500,000 c 3.00o% 1,000,000 a —+—Total Int Earnings 2.00% ( , 1.00% 500,000 0.00% - 1993 1994 1995 Year , OTHER INFORMATION The final section of the letter of transmittal will provide information regarding the City's annual audit, awards, and acknowledgments. ' Independent Audit Washington State Law requires an annual audit of the City's financial statements by the independently 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 fmancial 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 1995 has been completed and the City has been issued an unqualified opinion. The "Independent Auditor's Report" is included in the "Financial Section"of this document. xiii City of Renton 1995 CAFR Certificate of Achievement Certificate of The Government Finance Officers'Association of the United States and Canada (GFOA) Achievement awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Renton for its Comprehensive Annual Financial Report for the year ended December for Excellence 31, 1994. The Certificate of Achievement is a prestigious national award recognizing in Financial conformance with the highest standards for preparation of state and local government Reporting financial reports. Presented to In order to be awarded a Certificate of Achievement, a government unit must publish an City of Renton, easily readable and efficiently organized Comprehensive Annual Financial Report, Washington whose contents conform to program standards. Such Comprehensive Annual Financial For its Comprehensive Annual Reports must satisfy both Generally Accepted Accounting Principles and applicable legal requirements. Financial Report re q i for the Fiscal Year Ended December 31, 1994 A Certificate of Achievement for Excellence in Financial Acknowledgments Preparation of this report could not have been accomplished without Reporting is presented by the Government Finance Officers the professional, efficient, and dedicated services of the entire staff of the Finance and A—ation of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financialp Information Services Department and the various department heads and employees who i reports Iin I achieve the highest randards assisted and contributed to its preparation. Further appreciation is extended to the Mayor in government accounting and financial reporting. and City Council for their encouragement, interest, and support in conducting the financial operations of the City in a sound and progressive manner. The efficient assistance of examiners from the office of the State Auditor is also appreciated. Staff a P es;dent who had a direct role in preparing Renton's 1995 Comprehensive Annual Financial Report take great pride in their work, and the entire team who worked on this project are .. �Oecunve tor 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 Victoria A. Runkle Finance and Information Services Administrator r.. cc: Washington State Auditor Ilr. AV City of Renton 1995 CAFR .r .r. r 1 Y O 1 ti - 1 N O � 1 1 xv , City of Renton 1995 CAFR r 1995 Annual Financial Reno�t �" Financial Statements City of Renton 1995 CAFR as ' Washington State Auditor ' Legislative Building (360)753-5277 PO Box 40021 Brian Sonntag FAX(360)753-0646 Olympia,Washington 98504-0021 TDD Relay 1-800-833-6388 1 INDEPENDENT AUDITOR'S REPORT June 21, 1996 The Honorable Mayor and City Council ' City of Renton Renton, Washington We have audited thegeneral-purpose financial statements of the Cil of Renton, Kin County, Washington,as of and for the , Y g Y g fiscal year ended December 31, 1995, as listed in the table of contents. These financial statements are the 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 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 die amounts and disclosures in die financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating die 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, 1995, and the results of its operations and cash flows of its ' proprietary fund types and similar trust funds for the fiscal year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on die general-purpose financial statements taken as a whole. The , combining,individual fund, and account group financial statements and schedules listed in die table of contents are presented for purposes of additional analysis, and are not a required part of die general-purpose financial statements of the City of Renton,King County,Washington. The information has been subjected to die 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. Sincere , I Brian Sonntag State Auditor 2 City of Renton 1995 CAFR 1995 Annual Financial Report General Purpose Financial Statements .,.. 3 City of Renton 1995 CAFR COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS: DECEMBER 31, 1995 Page 1 of 2 With Comparative Totals for December 31, 1994 ?<FI"iOFfEiNMENTfkF;:::FtINEY:]`YP SPECIAL DEBT CAPITAL GENERAL REVENUE SERVICE PROJECTS ASSETS: Cash and Cash Equivalents - Note 3 .................... $ 3,627,023 $ 2,053,078 $ 1,558,536 $ 2,015,702 Cash With Fiscal Agent ................................. 0 0 95,244 0 Deferred Compensation Plan Assets - Note 4 ............. 0 0 0 0 Investments - Note 3 ................................... 0 8,953,649 1,673,477 5,525,517 Receivables, net of Allowance for Uncollectibles-Note 5: 2,908,117 322,843 4,514,334 294,961 Due From Other Funds - Note 5 .......................... 82,328 54,346 8,615 1,399 Interfund Loans/Advances-Current - Note 5 .............. 0 0 0 0 Due From Other Governmental Units - Note 5 ............. 45,439 103,339 0 2,034,354 , Inventory of Material and Supplies Note 1 ............ 0 0 0 0 Prepaid Items - Note 8 ................................. 13,000 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 ........ 79,000 0 0 0 Note Receivable - Non-Current - Note 5 .................. 0 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 :::.:. ?IfljAL::ASSET'a....;.._.�_.:.;:>: ,.>.... . .. .�:- . . . .::.::..::.:;:� _ >�: ;>:�6"75:4 7 $ I1<;>.;87, X LIABILITIES AND FUND EQUITY: LIABILITIES: , Vouchers/Contracts Payable .......................... $ 283,904 $ 582,151 $ 8,000 $ 78,628 Retainage Payable .................................... 0 21,514 0 66,902 Due To Other Funds - Note 5 .......................... 193,917 33,478 0 54,470 Interfund Loans/Advances-Current - Note 5 ............ 0 0 0 0 ' Due To Other Governmental Units Note 5 ............. 1,006,473 0 0 0 Payables - Note 5 .................................... 781 2,554 95,244 1,958 Deferred Revenues .................................... 1,848,205 0 3,979,898 150,435 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 ..................................... 83,067 16,715 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 ........ 141,005 74,689 0 2,537 ' Deferred Compensation Payable - Note 4 ............... 0 0 0 0 Interfund Loans/Advances - Non-Current - Note 5....... 0 75,000 0 0 Claims Incurred But Not Reported - Note 17 ........... 0 0 0 0 Capital Leases Payable - Note 12 ....................... 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 :.:...•,.::;> :,: 57>352::::;<: :»><:>:806%::E0:1. >: ; :;>4?`.0 42.....$........ 30 1ATA.......IAi3I... 3LES.....x..: •,•,•;:::,:•::.K:e:.:..:x.«.«.:x:«.... «..::::.:.:«:.:x... ��.......................................................... ........... ► .. .:..::..........: ... FUND EQUITY AND OTHER CREDITS. Fund Balance: +ri1 Reserved - Note 1 & 14 ............................ $ 212,000 $ 0 $ 3,767,064 $ 50,475 Unreserved - Designated ........................... 598,368 0 0 0 Unreserved - Undesignated ......................... 2,387,187 10,681,154 0 9,466,528 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 TC:tQTTAA lL.>:.::.�E.t. AND _. ...:.:._. .1.,'..4..$. .F.�.,..2....5...fi...........E�U1:3;YAGR ? . ; ........::.. �.8...4 ..6 8S: _,2TS ...................;CtE) ....: ..7HRO6...:?....<.:.........`..:.<.49._...6...71....7..F..9p3..3 ..:<.:. < . THE ACCOMPANYING NOTES ARE 4 41 City of Renton 1995 CAFR m Page 2 of 2 P[Zi)Pltl£TIfR3 ..F#3N©.TYP£5 FdDLIG1RRY; ACCOUNY &RQURS COMP1kRATi1t :iLi AIS . ^>;>:< . INTERNAL TRUST GENERAL GENERAL LONG (MEMORANDUM ONLY) ENTERPRISE SERVICE AND AGENCY FIXED ASSETS TERM DEBT 1995 1994 $ 3,559,955 $ 2,458,064 $ 263,383 $ 0 $ 0 $ 15,535,741 $ 9,689,053 0 30,000 0 0 0 125,244 98,644 0 0 6,883,333 0 0 6,883,333 5,510,358 1,547,104 2,324,978 2,927,230 0 0 22,951,955 26,525,323 3,611,373 138,048 123,927 0 0 11,913,603 11,429,281 243,457 9,541 0 0 0 399,686 276,380 0 11,763 47,367 0 0 59,130 10,842 567,412 0 0 0 0 2,750,544 3,979,973 340,484 38,223 0 0 0 378,707 302,727 ., 0 3,000 0 0 0 16,000 19,937 0 0 0 1,081,875 0 1,081,875 1,062,201 17,102 0 0 0 0 17,102 20,435 5,978,759 0 0 0 0 5,978,759 3,923,963 6,013,667 0 0 0 0 6,013,667 9,526,046 0 7,294 102,633 0 0 188,927 73,057 121,740 0 0 0 0 121,740 0 109,122,988 1,841,866 0 62,219,310 0 173,184,164 145,729,070 8,533,095 0 0 5,559,969 0 14,093,064 26,359,545 128,000 0 0 0 0 128,000 144,000 0 0 0 0 3,817,539 3,817,539 4,372,588 .r 0 0 0 0 17,876,962 17,876,962 19,213,486 $ 717,080 $ 114,740 $ 10,350 $ 0 $ 0 $ 1,794,853 $ 1,630,322 100,991 30,029 0 0 0 219,436 68,688 117,821 0 0 0 0 399,686 276,380 59,130 0 0 0 0 59,130 10,842 219,014 0 0 0 0 1,225,487 1,163,597 524,321 16,817 0 0 0 641,675 687,654 63,062 0 0 0 0 6,041,600 6,488,390 27,358 0 0 0 0 27,358 20,435 398,460 0 0 0 0 398,460 501,210 1,710,000 0 0 0 0 1,710,000 1,470,000 20,408 (5,239) 0 0 0 15,169 (2,205) 0 0 115,275 0 0 215,057 252,398 0 205,795 0 0 0 205,795 106,155 2,625,500 1,323,260 0 0 14,326,985 18,275,745 20,277,635 (109,400) (23,186) 0 0 0 (132,586) (147,630) 0 0 0 0 3,691,000 3,691,000 4,141,000 31,750,000 0 0 0 0 31,750,000 33,460,000 (574,531) 0 0 0 0 (574,531) (640,761) 290,981 20,707 0 0 3,440,472 3,970,391 3,640,698 0 0 6,883,333 0 0 6,883,333 5,510,358 !ter 109,927 0 4,000 0 0 188,927 73,057 0 1,144,050 0 0 0 1,144,050 1,299,559 65,034 0 0 0 0 65,034 0 0 0 0 0 185,569 185,569 275,297 4,420,394 0 0 0 0 4,420,394 2,862,821 9,144 3,291 0 0 50,475 62,910 303,330 ... 4, 4.:;:;:::::: . . 834<:26k<:»>::> ; :......:::::::::'.:::::>::::<:::>::: <:21:'.SQ...501 :>:.. .. 82<8837.2 $ 0 $ 0 $ 7,848,000 $ 0 $ 0 $ 11,877,539 $ 11,721,630 0 0 0 0 0 598,368 500,052 0 0 (4,513,085) 0 0 18,021,784 14,825,321 76,087,270 1,048,674 0 0 0 77,135,944 74,054,429 3,148,893 59,451 0 0 0 3,208,344 3,073,274 18,004,279 2,924,388 0 0 0 20,928,667 16,764,671 0 0 0 68,861,154 0 68,861,154 63,598,302 :.:...::154 (k, . 37;.b . 139;:785,135:) AN INTEGRAL PART OF THIS STATEMENT 5 City of Renton 1995 CAFR err COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES Page 1 of 1 FOR ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 M AR :....:......:»::>::>::<;;:::>::>::»:<z<: »..CO ARICI:C1!E::::3OT SPECIAL DEBT CAPITAL (MEMORANDUM ONLY) GENERAL REVENUE SERVICE PROJECTS 1995 1994 ' REVENUES Taxes ............................. $ 21,425,193 $ 10,036,434 $ 2,508,540 348,384 $ 34,318,551 S 31,271,201 , Licenses And Permits ............... 1,213,272 22,774 0 1,536,531 2,772,577 2,851,259 Intergovernmental Revenues ......... 2,977,429 1,365,820 0 6,870,378 11,213,627 11,922,489 Charges For Services ............... 3,026,874 1,791,478 0 4,388 4,822,740 4,739,510 ' Fines And Forfeits ................. 981,981 16,572 0 0 998,553 1,107,779 Special Assessments ................ 0 0 908,724 0 908,724 1,029,437 Interest ........................... 540,997 563,625 418,159 209,179 1,731,960 1,192,452 Miscellaneous Revenues ............. 155,294 494,184 0 35,876 685,354 748,864 EXPENDITURES Current: General Government .............. $ 6,283,336 $ 1,524,288 $ 0 0 $ 7,807,624 $ 7,570,560 Security Of Persons And Property 17,187,719 0 0 5,500 17,193,219 17,272,774 Physical Environment ............. 1,520,374 0 0 0 1,520,374 1,585,936 Transportation ................... 0 4,947,622 0 4,512,876 9,460,498 9,848,751 Economic Environment ............. 2,938,751 667,271 0 0 3,606,022 3,552,526 Mental And Physical Health ....... 7,843 0 0 0 7,843 10,755 Culture and Recreation ........... 0 5,130,721 0 0 5,130,721 4,952,547 Capital Outlay ..................... 130,655 363,930 0 4,725,584 5,220,169 5,193,702 Debt Service: Principal Retirement ............. 43,802 0 2,170,397 0 2,214,199 2,984,153 Interest & Fiscal Charges ........ 15,480 0 1,117,614 251,542 1,384,636 1,305,525 ,:. >;:..:;:::;::.r:.; 493: 02(::::::$«:; 3;.545 T0TA 3•;£XP.ENDI7UR S ... ::,: .. ..�i8*.427,96ft:....$.:12,633.,8..... ..... . 4951.4 .,..,.. . ...... .......... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ................... $ 2,193,080 $ 1,657,055 $ 547,412 (490,766) $ 3,906,781 S 585,762 w OTHER FINANCING SOURCES (USES) Interfund Loan Repayments ......... $ 0 $ 200,000 $ 0 (200,000) $ 0 S (304,007) Operating Transfers In ............. 16,333 4,000 526 1,927,941 1,948,800 771,506 Operating Transfers (Out) .......... (1,645,860) (737,369) (207,859) (164,633) (2,755,721) (1,339,153) Other Financing (Uses) ............. 0 0 0 0 0 493,250 Intergovernmental Agreements ........ 0 0 0 (23,500) (23,500) 0 Sale Of General Fixed Assets ....... 29,497 4,284 0 0 33,781 26,847 F3TRI :OT#EBR..F.IEk1iCI.NG.;S:pURs (US�S3; ( iIIE,_40� t5 4, x:;: 5:;:'::::(2(7 . :;: } 1�5.9,_.aS..... :,.. (74 :b4�) EXCESS (DEFICIENCY) OF REVENUES ar AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $ 593,050 $ 1,127,970 $ 340,079 1,049,042 $ 3,110,141 $ 234,205 FUND BALANCE JANUARY 1 ............... 2,614,987 9,553,184 3,676,985 8,217,961 24,063,117 23,828,912 Residual Equity Transfers In ....... 0 0 0 250,000 250,000 277,249 Residual Equity Transfers Out ...... (10,482) 0 (250,000) 0 (260,482) (277,249) 3 .197 555::::::..5•::10 68¥ k54.:;::>::: .3,767,:E)6:4:::::::::::'9.X37;:803 5:::(27,162;;776 , , .:.: :.,. THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 6 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 .. VARIANCE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> REVENUES Taxes .............................................. $ 21,650,871 $ 21,425,193 $ (225,678) Licenses And Permits ............................... 1,111,850 1,213,272 101,422 w Intergovernmental Revenues ......................... 2,882,117 2,977,429 95,312 Charges For Services ............................... 3,017,595 3,026,874 9,279 Fines And Forfeits ................................. 730,900 981,981 251,081 Special Assessments ................................ 0 0 0 Interest ........................................... 410,000 540,997 130,997 Miscellaneous Revenues ............................. 127,234 155,194 27,960 • ............................::.�•......:-..:.:.:._:...:.......-:-,.•:.:..:t.,:�..:...._.......................... ... X::::3Ii:'3 EXPENDITURES Current: General Government ............................... $ 6,582,833 $ 6,283,336 $ 299,497 Security Of Persons And Property ................. 18,163,709 17,187,719 975,990 Physical Environment ............................. 1,619,485 1,520,374 99,111 Transportation ................................... 0 0 0 Economic Environment ............................. 3,176,530 2,938,751 237,779 Mental And Physical Health ....................... 9,996 7,843 2,153 Culture and Recreation ........................... 0 0 0 Capital Outlay ..................................... 179,722 130,655 49,067 Debt Service: Principal Retirement ............................. 49,603 43,802 5,801 Interest & Fiscal Charges 15,472 15,480 (8) XP; ::. :;:.. ........::;:::._:.rs::::::<>::::::: ....:«.,.. .:.:« ... ,1Z. 4 i456 t 9(1 :: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 133,217 $ 2,192,980 $ 2,059,763 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... $ 0 $ 0 $ 0 w Operating Transfers In ............................. 16,333 16,333 0 Operating Transfers (Out) .......................... (1,636,560) (1,645,860) (9,300) OtherFinancing Sources ............................ 0 0 0 Intergovernmental Agreements ....................... 0 0 0 Sate Of General Fixed Assets ....................... 0 29,497 29,497 Funds Remitted to Bond Trustee ..................... 0 0 0 TOTAL a3THER.> HAN(;i;NG..$Ol3ltE ES .(US S) : ,. - :>: ;1..600�;a30?::;< EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (1,487,010) $ 592,950 $ 2,079,960 FUND BALANCE JANUARY 1 ............................... 2,798,407 2,614,987 (183,420) Residual Equity Transfers In ....................... 0 0 0 Residual Equity Transfers (Out) .................... 0 (10,482) (10,482) PUNO:BAt ANE) :IJEC�MB£R 4 ..:.: S 49, 497,4.55 8$i,U58 1 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 7 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 VARIANCE ' FAVORABLE BUDGET ACTUAL <UNFAVORABLE> REVENUES ' Taxes .............................................. $ 8,992,500 $ 10,036,434 $ 1,043,934 ' Licenses And Permits ............................... 18,000 22,774 4,774 Intergovernmental Revenues ......................... 1,815,047 1,365,820 (449,227) Charges For Services ............................... 1,681,805 1,791,478 109,673 Fines And Forfeits ................................. 15,600 16,572 972 Special Assessments ................................ 0 0 0 ' Interest ........................................... 292,850 563,625 270,775 Miscellaneous Revenues 485,480 494,184 8,704 TOTAL R£1I1 NUt S 282.: s:: :.:.14. 9 X87. $;.::. ;:;;989::b(13:<•. :.. .... .... .. ..:...:...�.... .....:........(. R....,,:,.............::• EXPENDITURES Current: General Government ............................... $ 1,651,994 $ 1,524,288 $ 127,706 Security Of Persons And Property ................. 0 0 0 ' PhysicalEnvironment ............................. 0 0 0 Transportation ................................... 7,462,452 4,947,622 2,514,830 Economic Environment ............................. 800,825 667,271 133,554 Mental And Physical Health ....................... 0 0 0 ' Culture and Recreation ........................... 5,324,926 5,130,721 194,205 Capital Outlay ..................................... 4,073,540 363,930 3,709,610 Debt Service: Principal Retirement ............................. 0 0 0 ' Interest & Fiscal Charges ........................ 0 0 0 TOTRES:- '>': :;.:'s:>a:»'r; .... .. :... .;>;:. Al .EXf3£NDt... E S 2 33,8 2 : 90 .:.*.., .:.. .:,,........ ..;:... _ . EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (6,012,455) $ 1,657,055 $ 7,669,510 ' OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... $ 200,000 $ 200,000 $ 0 Operating Transfers In ............................. 4,000 4,000 0 Operating Transfers (Out) .......................... (796,617) (737,369) 59,248 Other Financing Sources ............................ 0 0 0 Intergovernmental Agreements ....................... 0 0 0 Sale Of General Fixed Assets ....................... 0 4,284 4,284 Funds Remitted to Bond Trustee0 0 0 ..................... :c:.:>:::::> :$..... EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (6,605,072) $ 1,127,970 $ 7,733,042 FUND BALANCE JANUARY 1 ............................... 9,266,678 9,553,184 286,506 Residual Equity Transfers In ....................... 0 0 0 Residual Equity Transfers (Out) 0 0 0 .................... i THE ACCOMPANYING NOTES ARE AN 8 City of Renton 1995 CAFR Page 3 of 4 i »: CAFTT.A.f. pROJ.�CF�,FllNO TY�?3c5:'. VARIANCE VARIANCE FAVORABLE FAVORABLE BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE> $ 2,536,500 $ 2,508,540 $ (27,960) $ 350,000 S 348,384 $ (1,616) 0 0 0 1,475,064 1,536,531 61,467 0 0 0 15,807,911 6,870,378 (8,937,533) 0 0 0 1,000 4,388 3,388 0 0 0 0 0 0 650,482 908,724 258,242 0 0 0 r 460,950 418,159 (42,791) 71,700 209,179 137,479 0 0 0 35,800 35,876 76 647.932:;:::::;:$.:.::3 835:423:.:::.,,.: :: .. ..x.:::.::.:::;:1.87 X91:::: :&>:<:1 .7�r.. >::>::::>:;: :::>::::.' ::;::;:z:.;;:::.r.::.:::.r..•::• r.::::::..r. :.:::............................ ...............................:�.. 45........$......Q .004:: »::»:: $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 0 0 0 13,000 5,500 7,500 ® 0 0 0 0 0 0 0 0 0 16,241,826 4,512,876 11,728,950 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7,828,105 4,725,584 3,102,521 2,266,399 2,170,397 96,002 0 0 0 1,122,834 1,117,614 5,220 289,027 251,542 37,485 3;3V 2$3. ;$ .1311 $..:':` 1 r 2 Vi is 24, 7:3'79 8 $ 258,699 $ 547,412 $ 288,713 $ (6,630,483) $ (490,766) $ 6,139,717 $ 0 $ 0 $ 0 $ (210,418) $ (200,000) $ 10,418 526 526 0 1,987,189 1,927,941 (59,248) (206,581) (207,859) (1,278) (164,633) (164,633) 0 0 0 0 0 0 0 0 0 0 (20,000) (23,500) (3,500) 0 0 0 0 0 0 0 0 0 0 0 0 I'llX155) $ 207 333.<: $. ::..;:. .:;: ' _. .......�.... ....._33 :',S .... ...... ..._ (...._....)..... .........r 42:338 x:;:::»34:5 808 $ 52,644 $ 340,079 $ 287,435 $ (5,038,345) $ 1,049,042 $ 6,087,387 3,386,518 3,676,985 290,467 5,029,139 8,217,961 3,188,822 0 0 0 250,000 250,000 0 (250,000) (250,000) 0 0 0 0 ' INTEGRAL PART OF THIS STATEMENT �r 9 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 ........................................ _.._ .. .:: :GOMRARATaV> :a]s5 :::: : ::: :: :.::.: .....:: . (MEMORANDUM ONLY) VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .......................................... $ 33,529,871 $ 34,318,551 $ 788,680 $ 31,271,201 Licenses And Permits .............................. 2,604,914 2,772,577 167,663 2,851,259 Intergovernmental Revenues ........................ 20,505,075 11,213,627 (9,291,448) 11,922,489 Charges For Services .............................. 4,700,400 4,822,740 122,340 4,739,510 Fines And Forfeits ................................ 746,500 998,553 252,053 1,107,779 Special Assessments ............................... 650,482 908,724 258,242 1,029,437 Interest .......................................... 1,235,500 1,731,960 496,460 1,192,452 Miscellaneous Revenues 648,514 685,254 36,740 748,864 ''.'.'.'.'.'.'. '''' .... .............$. k>b2-;':::25f::>'.<%::< 5:7"�5:1:'>98{:>::>::$:::>:�::::3;b9;>�7t1: 7AL.:.R£VINt)EB::::::;_:..:;_:::::.;:;_:.::;:;.:.,..;,.:.:...,;,;.:...,;,.:................................... ........................................ (.......:........... EXPENDITURES Current: General Government ........................... $ 8,234,827 $ 7,807,624 $ 427,203 $ 7,570,560 Security Of Persons And Property ................ 18,176,709 17,193,219 983,490 17,272,774 Physical Environment ............................ 1,619,485 1,520,374 99,111 1,585,936 Transportation .................................. 23,704,278 9,460,498 14,243,780 9,848,751 Economic Environment ............................ 3,977,355 3,606,022 371,333 3,552,526 Mental And Physical Health ...................... 9,996 7,843 2,153 10,755 Culture and Recreation .......................... 5,324,926 5,130,721 194,205 4,952,547 Capital Outlay .................................... 12,081,367 5,220,169 6,861,198 5,193,702 Debt Service: Principal Retirement ............................ 2,316,002 2,214,199 101,803 2,984,153 Interest 8 Fiscal Charges ....................... 1,427,333 1,384,636 42,697 1,305,525 ..:..::. ...::.:::: fiOTAI ::EXP£NZ)[Tl1ItE .,.:: ... $<.53r4�i*>. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ................................ $ (12,251,022) $ 3,906,681 $ 16,157,703 $ 585,762 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments ...................... $ (10,418) $ 0 $ 10,418 $ (304,007) Operating Transfers In ............................ 2,008,048 1,948,800 (59,248) 771,506 Operating Transfers (out) ......................... (2,804,391) (2,755,721) 48,670 (1,339,153) Other Financing Sources ........................... 0 0 0 493,250 Intergovernmental Agreements ...................... (20,000) (23,500) (3,500) 0 Sale Of General Fixed Assets ...................... 0 33,781 33,781 26,847 Funds Remitted to Bond Trustee0 0 0 0 .................... S:;;::::.:_re<:::c::><..::>:_:<:::>$<:::::<:">.:;826 ?bL3::r<S::<.>:.:<:..�.P9b.i?:U)..:..:::........ 30 :3: �"::;:.' :...... t3.f:✓ .:;:3: 10T{1L...OTH£R. ............�ICs::SOUR££S. (.USS..}..... .... . .. .............. (. _ --- - - EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $ (13,077,783) $ 3,110,041 $ 16 187,824 $ 234,205 FUND BALANCE JANUARY 1 .............................. 20,480,742 24,063,117 3,582,375 23,828,912 Residual Equity Transfers In ...................... 250,000 250,000 0 277,249 Residual Equity Transfers (Out) ................... (250,000) (260,482) (10,482) (277,249) fUNO BAkANCIDEOEM6£R>3t x .............. : THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 10 City of Renton 1995 CAFR COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY Page 1 of I ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 AR E Y-.*.':'FUN .T 0 T .7 M.. INTERNAL FUND TYPE (MEMORANDUM ONLY) ENTERPRISE SERVICE PENSION TRUST 1995 1994 OPERATING REVENUES: Charges for Services ........................... $ 25,578,853 $ 5,819,858 $ 0 $ 31,398,711 $ 31,444,192 Fire Insurance Premiums ........................ 0 0 69,471 69,471 78,893 Property Taxes ................................. 0 0 286,000 286,000 257,000 Interest Revenue ............................... 0 0 303,914 303,914 281,189 Other Operating Revenue ........................ 1,075,325 46,025 0 1,121,350 450,732 ------------- .7 . ..... . 8.8 OPERATING EXPENSES: Operations and Maintenance ..................... $ 16,449,067 $ 763,931 $ 0 $ 17,212,998 $ 16,903,973 Benefit Payments :****....***'*****"**......*** 0 3,078,434 300,591 3,379,025 3,377,385 Professional Services .......................... 0 275,582 0 275,582 249,804 Administrative and General ..................... 1,803,617 290,390 7,765 2,101,772 1,878,235 Insurance ...................................... 14,776 418,050 0 432,826 417,601 Taxes .......................................... 2,381,028 0 0 2,381,028 2,424,218 Depreciation ................................... 2,428,460 375,694 0 2,804,154 2,565,252 .T.&L ...... ......... ....... ......... .... .. . ....... .. .. ..... ......... . . ........ r.. ....: .5 . .......... .. ........ . . ........ . ... .. . ...... ..... ...... NON-OPERATING REVENUE (EXPENSE): Interest Revenue ............................... $ 934,171 $ 250,240 $ 0 $ 1,184,411 $ 985,427 Gain (Loss) on Sate of Assets .................. 0 (3,692) 0 (3,692) 4,908 Other Non-operating Revenue .................... 155,772 60,572 0 216,344 93,986 Interest Expense ............................... (2,091,963) (91,189) 0 (2,183,152) (1,807,466) Arbitrage Expense .............................. (560) (190) 0 (750) (750) Amortization of Debt Discount and Expense ...... (85,274) (3,555) 0 (88,829) (85,339) ON :,G.:68.6 . . .... .. . .......... $ w'.. ET,: Ex -M7.'8541 . .... .. .75 --T,s_:. . ...... --- ............... .......... .9 .... ............. OPERATING TRANSFERS IN .......................... 396,012 434,909 0 830,921 577,647 OPERATING TRANSFERS OUT .......................... (20,000) (4,000) 0 (24,000) (10,000) 06 .1 N ,4 Ronk'.. jg" Depreciation Reducing Grant Contributed Capital. 126,781 0 0 126,761 164,763 S CR 1 NG ..... X-65 1:JR:'U., :2 19, ... ... ..... RETAINED EARNINGS, JANUARY 1 ..................... $ 18,161,003 $ 1,676,942 $ 2,983,886 $ 22,821,831 $ 18,635,510 it Prior Period Corrections - Note 18 ............. 0 0 0 0 (432,393) ............ .. R-ES A ..01.......... BE fA IR A E-T J. .......... ... .... ... .45 ..................... .... ......... CONTRIBUTED CAPITAL, JANUARY 1 ................... $ 73,016,237 $ 1,038,192 $ 0 $ 74,054,429 $ 73,526,187 Capital Grants ............................... $ 416,911 $ 0 $ 0 $ 416,911 $ 101,929 Prior Period Corrections ..................... 0 0 0 0 (1,437,533) Amortization on Capital Grants ............... (126,781) 0 0 (126,781) (164,763) Other-Contribute-d Capital .................... 2,780 903 10,482 0 2,791,385 2,028,609 ON7.F A. ' .. .........r:. .. :,. J....... .9 7A 2::: .... .. . THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT 11 City of Renton 1995 CAFR COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1995 Page 1 of 4 ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS With Comparative Totals for Year Ended December 31, 1994 ' PROPR:t7YRY<(t3Ni3:TY>y�S<>>`<>`: INTERNAL ENTERPRISE SERVICE CASH FLOWS FROM OPERATING ACTIVITIES: ' Cash Received From Customers ................................. $ 24,961,823 $ 0 Cash Received From Other Funds for Goods and Services ........ 280,141 5,816,150 Cash Payments to Suppliers for Goods and Services ............ (12,923,149) (4,246,077) ' Cash Paid to Other Funds for Goods and Services .............. (3,254,225) (445,667) Cash Paid to Employees ....................................... (2,976,199) (278,005) Cash Paid for Taxes .......................................... (1,437,957) 0 Cash Paid for Retirees ....................................... 0 0 ' Other Operating Receipts ..................................... 1,068,882 43,321 Other Non-Operating Receipts ................................. 29,659 78,858 :NET CASH::FitOV;I.i EO (USEII� BY>a EtATI:N ;:AC.T..IVITIES,.>....,:...:........,.....:.....: .748- 75..::::.> :•.: . ...:!x+58 58() CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: ' Proceeds From Interfund Loans ................................ $ 150,000 $ 0 Operating Grants Received .................................... 92,679 0 Operating Transfers From Other Funds ......................... 386,712 434,909 ' Cash Received From Taxes on Fire Insurance Premiums .......... 0 0 Cash Received From Property Taxes ............................ 0 0 Operating Transfers To Other Funds ........................... (20,000) (4,000) Repayments on Interfund Loans .. (16,384) 10,842 .. .................. ON L7AL..£1:NANCiNG'rAC7:1:�tI7:: $ .::....::: $:: >::>::::..593 JET::CAa1#.PROYaDEiY:(USED) �Y.,1V... CAA., _ _...._.. _ . __... ,.... ... ........... ._. ..x... .. , CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds .................................. $ 0 $ (7,559) ' Payments on Bond Issuance and Registration Fees .............. (3,280) (182) Proceeds From State Long-Term Loans .......................... 1,788,396 0 Proceeds From Sale of Equipment .............................. 0 33,334 Acquisition and Construction of Capital Assets ............... (10,701,484) (710,603) Payments Received from Intergovernmental Loan ................ 37,874 0 Capital Contributions ........................................ 1,368,405 0 Capital Grants ............................................... 465,947 0 Principal Payments on Bonds .................................. (2,009,254) (195,505) Interest Payments on Bonds ................................... (2,123,369) (92,247) Interest Payments on State Long-Term Loans ................... (60,078) 0 Residual Equity Transfer Out 0 10,482 iVE7:;CASH PI OX1:IiIED (USEi) &Y GAP i TAL;E I NANC:I NG AGT IY:iT ISS. :. . $:' L 1:9.23b;843:s:>'» f 452.Z80 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ $ 29,788,033 $ 6,625,234 Payments for Investments ..................................... (24,655,358) (6,110,078) Interest on Investments ...................................... 978,333 240,156 ..:: ......:..::.:::.. . ................:::.. ;.......:... ...... It £i�S :AQVtD�Ik..tUSkD).RY .1N1tESTi:NG:::IkGTiiTi�;i . .....:: 6,11 « 48 <::>>.::>>;' `�5�31 1JEt.1HGRE ASE (DECIIJISE.)..11.. ASH..AF1D..EAS>i EtttlllAL1r1(ts... 1,2 Ed � 7 .... ..<:: >E:> E13>:3#+3 JANUARY 1: .. .r'..: �. .: �l1SIf RMF�':CASH1lx3iyAt�NTS, r. . ,. GAS#..A1a0:;CASH 1r41U3VALENTS, p:EEM6ER CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 3,559,955 $ 2,458,064 Cash Restricted for: Deposits ................................................... 17,102 0 Revenue Bond Debt Service .................................. 5,978,759 0 Construction Account6,013,667 0 Account ....................................... ; QTA€ :C115>f.hT:<:THf END..: F €THE:`.YEAR .;::x <. s. ..>: ..x.: . $ 5,569.483. $:; ;:Z.►. 12 City of Renton 1995 CAFR Page 2 of 4 ><........ IN ...................................................................... (MEMORANDUM ONLY) PENSION TRUST 1995 1994 $ 0 $ 24,961,823 $ 23,676,044 0 6,096,291 6,241,151 (4,500) (17,173,726) (15,794,264) (3,265) (3,703,157) (3,533,441) m 0 (3,254,204) (2,863,534) 0 (1,437,957) (1,354,435) (300,591) (300,591) (295,605) 0 1,112,203 451,347 0 108,517 92,916 $ (150,000) $ 0 $ 95,000 0 92,679 110,143 0 821,621 581,964 69,471 69,471 78,893 286,000 286,000 257,000 0 (24,000) (10,000) �tt y0 (757,54L2f) (197,147) ii;�;i;i?2'•%<%�`i Y f�( :Li;ii:'i:'r.P;i;cxc[iiii ia:.`.�S!ii' F 'i.{ 7 j1�7 i. '� i? $ 0 $ (7,559) $ 9,539,385 0 (3,462) (155,864) 0 1,788,396 1,637,842 0 33,334 17,446 0 (11,412,087) (9,039,208) 0 37,874 37,989 0 1,368,405 984,569 0 465,947 217,207 0 (2,204,759) (1,895,025) 0 (2,215,616) (1,330,187) 0 (60,078) (39,373) 0 10,482 0 $ 388,700 $ 36,801,967 $ 26,765,898 (761,029) (31,526,465) (34,421,468) 303,850 1,522,339 910,071 s:::::<:.•I�::::::•<.:::::>::L6#'s4•7�?:::::;`::5;::>::::«;6;: 4 2.. ...... x. . 347;68Xl .................... 3,.758. .. 5... #Sr1.�x1.,3Q >::::': : 15,413,739.:; $ 133,758 $ 6,151,777 $ 1,830,528 0 17,102 20,435 0 5,978,759 4,536,149 0 6,013,667 9,526,046 8(.1.1x1..31}5.::::.: ' 13 City of Renton 1995 CAFR COMBINED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1995 Page 3 of 4 ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS With Comparative Totals for Year Ended December 31, 1994 :>:PR13P:R:I87/1RY:>fEJhIEk=;:7:YPE5: >:<>: •' :::.................................................................... INTERNAL ENTERPRISE SERVICE , RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ 3,577,229 $ 1,127,022 Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Depreciation and Amortization of Deferred Charge ........... $ 2,444,459 $ 375,694 Other Non-Operating Revenue ................................ 14,570 60,572 ' (Increase) Decrease in Accounts Receivable ................. (280,524) (6,474) (Increase) Decrease in Interest on Investments ............. 0 0 (Increase) Decrease in Due From Other Funds/Governmental ... (77,800) 8,807 (Increase) Decrease in Inventory/Prepaid Items ............. (72,935) 893 ' Increase (Decrease) in Vouchers/Contracts/Retainage Payable. 34,405 66,408 Increase (Decrease) in Due to Other Funds/Governmental ..... 124,553 (3,492) Increase (Decrease) in Payables/Other Short Term Liabilities (48,645) (3,632) Increase (Decrease) in Customer Deposits ................... 6,923 0 ' Increase (Decrease) in Deferred Revenues ................... (22,779) 0 Increase (Decrease) in Accrued Employee Leave Benefits ..... 49,519 (38,489) Increase (Decrease) in Claims Incurred But Not Reported 0 (618,729) Total Adjustments $ 2,171,746 $ (158,442) ....... iET. #tS1t;FR0{FIDED.(USEU).BY.OPERATING.AETIV.1FiES.....:�; :: .....,.... SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: Fixed Assets Contributed By Developers ....................... $ 1,412,498 $ 0 Asset Trade-In ................... 0 29,755 . ..................... ...... ........... TfJTR:#JONChSN::::CAP i fI[L::fiND.:REE ATED,.E iNANE1:t G.ACT:IY £ :„ ': `.........:>`1 41.2 498 :�: 4..... r_ THE ACCOMPANYING NOTES ARE AN Fund Type Cash and E ' Fiduciary Fun yp Equivalents q Cash Reconciliation: Pension Trust ......................... $ 133,758 Special Deposits ...................... 125,625 Advanced Travel ....................... 4,000 Total Cash ............................... $ 263,383 * Above cash and cash equivalents reconciliation, cross-references cash and cash equivalents on the combined statements of Cash Flows and Balance Sheets 14 City of Renton 1995 CAFR r ■r Page 4 of 4 (1MpARFi7i1JE:>fQF11€5:........... <FilNQ �'FE (MEMORANDUM ONLY) PENSION TRUST 1995 1994 $ 351,029 $ 5,055,280 $ 4,695,537 $ 0 $ 2,820,153 $ 2,581,252 (659,385) (584,243) (9,688) 0 (286,998) 66,594 0 0 (35,557) 0 (68,993) 53,871 0 (72,042) (5,227) 0 100,813 (116,274) 0 121,061 3,492 0 (52,277) 34,538 0 6,923 (8,735) 0 (22,779) (32,192) 0 11,030 (66,179) 0 (618,729) 40,433 $ (659,385) $ 1,353,919 $ 2,506,328 $ 0 $ 1,412,498 $ 1,053,532 0 29,755 6,038 INTEGRAL PART OF THIS STATEMENT 15 City of Renton 1995 CAFR y O v ' O N 16 City of Renton 1995 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 too 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. w MWr r r r �r r w r 17 NOTES TO THE FINANCIAL STATEMENTS INDEX NOTE 1 -SIGNIFICANT ACCOUNTING POLICIES...................................................................................................................................................................19 Table1: Property Tax Levy..........................................................................................................................................................................................21 Table2: Fixed Asset Service Life.................................................................................................................................................................................22 Table3: Employee Leave Payable................................................................................................................................................................................22 NOTE 2-STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY...................................................................................................................................22 NOTE3- CASH&INVESTMENTS............................................................................................................................................................................................22 Table 4: Reconciliation of Cash and Investments by Fund Group................................................................................................................................23 Table 5: Classification of Investments As of December 31, 1995................................................................................................................................23 ' NOTE4-DEFERRED COMPENSATION....................................................................................................................................................................................23 NOTE5-RECEIVABLES AND PAYABLES...............................................................................................................................................................................24 Table6: Net Receivables and Payables........................................................................................................................................................................24 Table 7: Interfund Receivables and Payables...............................................................................................................................................................24 ' Table 8: Interfund Loans/Advances Receivable and Payable......................................................................................................................................25 Table 9: Due From Other Governmental Units.............................................................................................................................................................25 NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS.............................................................................................................................................25 Table10: Residual Equity Transfers.............................................................................................................................................................................25 ' Table11: Operating Transfers.......................................................................................................................................................................................26 NOTE7-FIXED ASSETS.............................................................................................................................................................................................................26 Table12: Changes in General Fixed Assets..................................................................................................................................................................26 Table13: Construction Work In Progress.....................................................................................................................................................................26 ' Table 14: Proprietary Property,Plant&Equipment.....................................................................................................................................................27 NOTE8-PREPAID ITEMS...........................................................................................................................................................................................................27 NOTE9-JOINT VENTURE..........................................................................................................................................................................................................27 Table 15: Joint Venture Cost Distribution....................................................................................................................................................................27 Table16: Balance Sheet...............................................................................................................................................................................................28 Table 17: Statement of Revenues,Expenses and Changes in Retained Earnings.........................................................................................................28 Table18: Joint Venture Equity.....................................................................................................................................................................................28 ' Table 19: Mobile Data Terminal/800-Megahertz Radio Purchase Agreement.............................................................................................................29 NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT BENEFITS...............................................................................................................................29 Table20: PERS and LEOFF Information By Plan.......................................................................................................................................................29 Table 21: PERS and LEOFF Information By System...................................................................................................................................................30 Table 22: Unfunded Pension Benefit Obligation..........................................................................................................................................................31 Table 23: Fire Pension Ten-Year Funding Progress Data.............................................................................................................................................31 Table 24: Fire Pension Ten-Year Revenues and Expenses...........................................................................................................................................31 NOTE1 I -CONSTRUCTION COMMITMENTS.........................................................................................................................................................................32 Table25: Construction Commitments..........................................................................................................................................................................32 NOTE 12-LONG-TERM DEBT AND CAPITAL LEASES.........................................................................................................................................................32 Table 26: Long-Term Debt Additions and Retirements Summary...............................................................................................................................32 Table 27 Outstanding Debt as of December 31, 1995...................................................................................................................................................33 ...... ' Table 28: Pro Rata Debt.......................................................................................................................................................................................... 34 Table29: Debt Limit Capacities...................................................................................................................................................................................34 Table30: Refunded Bonds............................................................................................................................................................................................35 Table 31: Changes to Refunded Bonds Payable...........................................................................................................................................................35 Table32: Debt Service Requirement to Maturity..........................................................................................................................................................35 Table33: Capital Lease Obligations:............................................................................................................................................................................36 NOTE 13-DEFERRED CHARGES IN PROPRIETARY FUNDS................................................................................................................................................36 NOTE 14-RESERVATIONS AND DESIGNATIONS OF FUND EQUITY.................................................................................................................................36 Table34: Reservations of Fund Equity.........................................................................................................................................................................36 Table35: Unreserved Designated Fund Equity.............................................................................................................................................................36 NOTE 15-SEGMENT INFORMATION FOR ENTERPRISE FUNDS........................................................................................................................................37 Table 36: Segment Information for Enterprise Funds...................................................................................................................................................37 NOTE16-LITIGATION................................................................................................................................................................................................................37 NOTE17-RISK MANAGEMENT................................................................................................................................................................................................37 Table37: Risk Management.........................................................................................................................................................................................37 Table38: Outstanding Claims.......................................................................................................................................................................................38 Table39: Changes in Claims Liabilities.......................................................................................................................................................................38 • 18 CITY OF RENTON NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 1995 NOTE 1 -SIGNIFICANT ACCOUNTING POLICIES The City of Renton was incorporated on September 6, 1901,and operates under the laws of the State of Washington applicable to a Non-Charter code city with a Mayor/Council form of government. Renton is served by a full-time Mayor and seven part-time Council members,all elected at large to four-year terms. The City provides the full range of municipal services authorized by State law, together with a Municipal Airport, a Waterworks Utility, a Solid Waste Utility, and a Municipal Golf Course. The accounting and reporting policies of the City of Renton,which conform to generally accepted accounting principles for governments, are regulated by the Washington State Auditor's Office,Division of Municipal Corporations. The City's significant accounting policies are described in the following notes. THE REPORTING ENTITY Based on the criteria of Statement No. 14 of the Governmental Accounting Standards Board(GASB),the City's Comprehensive Annual Financial Report(CAFR) includes all funds,account groups,agencies and boards for which the City is financially accountable. Financial accountability is defined as follows: A primary government has substantial authority to appoint a voting majority of a component unit's board;the primary government has the ability to impose its will on a component unit;the component unit can provide a financial benefit to,or impose a financial burden on the primary government;and the component unit is fiscally dependent on the primary government. The Renton Housing Authority has been excluded because the City neither reviews its budget nor is obligated to finance any of its deficits. The Mayor does appoint members to the Housing Authority Board,but the Board is fiscally independent of the City. BASIS OF PRESENTATION-FUND ACCOUNTING The accounts of the City are organized on the basis of funds and account groups,each of which is considered a separate accounting entity. Each fund is accounted for with a separate set of self-balancing accounts that comprise its assets,liabilities,fund equity,revenues and expenditures or expenses,as appropriate. The City's resources are allocated to and accounted for in individual funds according to the purpose for which they are spent and how they are controlled. The three broad fund categories,seven generic fund types,and two account groups presented in this report are described below. Governmental Fund Types All Governmental Funds are accounted for on a spending or "financial flow" measurement focus. This means that generally only current assets and current liabilities are included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of"available spendable resources." Governmental Fund operating statements focus on measuring changes in financial position,rather than net income; they present increases(revenues and other financing sources)and decreases(expenditures and other financing uses)in net current assets. The General Fund is the general operating fund of the City. It accounts for all financial resources and transactions except those required to be accounted for in another fund. Special Revenue Funds account for the proceeds of specific revenue sources(other than special assessments,and major capital projects)that are legally restricted to expenditures for specified purposes. Debt Service Funds account for the accumulation of resources for,and the payment of,general long-term debt principal,interest,and related costs. Capital Projects Funds account for financial resources to be used for the acquisition or construction of major capital facilities other than those financed by Proprietary Funds. Proprietary Fund Types Proprietary Funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether .. current or non-current) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary Fund operating statements present increases(revenues and gains)and decreases(expenses and losses)in net total assets. The Proprietary Fund measurement focus is based upon determination of net income,financial position,and reporting of cash flows. Enterprise Funds account for operations that are self-supported through user charges. The enterprise is financed and operated like a private business enterprise, which requires periodic determination of revenues earned,expenses incurred, and net income for capital maintenance, public policy,management control,and accountability. Internal Service Funds account for the financing of goods or services provided by one department or agency to other departments or agencies of the City or to other governments. Fiduciary Fund Types Fiduciary Funds account for assets held by the City in a trustee capacity or as an agent for individuals,private organizations,other governments,and other funds. These include Expendable Trust,Nonexpendable Trust, Pension Trust,and Agency Funds. City of Renton Fiduciary Funds do not include any Expendable or Nonexpendable Trust Funds. Pension Trust Funds are accounted for in essentially the same manner as Proprietary Funds. Agency Funds are custodial in nature(assets equal liabilities)and do .. not involve measurement of results and operations. 19 City of Renton Notes to the Financial Statements Account Groups o` Account Groups are used to establish accounting control over the City's general fixed assets and general long-term debt. The City uses two account groups. The General Fixed Assets Account Group accounts for all fixed assets of the City other than those accounted for in Proprietary Funds. The General Long-Term Debt Account Group accounts for all long-term debt of the City except that accounted for in the Proprietary Funds. Comparative Data Comparative total data for the prior year has been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However,comparative data has not been presented by fund type in each of the statements since their inclusion would make the .. statements unduly complex and difficult to read. Total Columns on Combined Statements Total columns on the combined statements are presented only to facilitate financial analysis. Data in these columns do not present financial position,results of operations, or the reporting of cash flows in conformity with generally accepted accounting principles. The data is also not comparable to a consolidation. Interfund eliminations have not been made in the aggregation of the data. BASIS OF ACCOUNTING Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Modified Accrual Basis ofAccouunting ' The modified accrual basis of accounting is followed in all Governmental Funds and Agency Funds. Under the modified accrual basis of accounting,revenues are recorded when susceptible to accrual,i.e.,both measurable and available. Available means collectible within the current period or soon enough thereafter to pay current liabilities. Specific major revenue sources subject to accrual are discussed below. The portion of property taxes receivable at year-end that are received in January for the prior year's levy are recorded as revenue. The remaining balance is not normally expected to be collected within 30 days after the current period and is,therefore,reported as deferred revenue. Grant revenues from cost reimbursement grants are considered earned and therefore available when the expenditure is incurred,in accordance with NCGA Statement 2. Interest on investments is recorded as revenue when earned. Special assessments and charges for services are recorded as revenue when billed and due within 30 days. Revenue sources which are not considered to meet the measurable and available criteria for revenue recognition include licenses and permits,fines and forfeitures,and other miscellaneous , revenues since they are generally not measurable until received. Under the modified accrual basis,expenditures are recorded when the fund liability is incurred,except for principal and interest on general long-term debt,which are recorded when due. Purchases of fixed assets out of Governmental Funds are treated as expenditures during the year incurred and the assets are capitalized in , the General Fixed Assets Account Group. Long-term liabilities,including vacation pay not currently due and payable,are accounted for in the General Long-Term Debt Account Group,except for long-term liabilities accounted for in the Proprietary Funds. Accrual Basis ofAccounting The accrual basis of accounting is followed in all Proprietary Funds and the Pension Trust Fund. Revenues are recognized when earned and expenses are recognized when incurred. The revenues of the Waterworks and Solid Waste Utilities,which are based upon service rates authorized by the City Council,are determined by monthly billings ' to customers.Revenues of the Golf Course are based on user fees,and Airport revenue is based on lease agreements. Earned but unbilled revenues at year-end are accrued and reported in the financial statements. Fixed asset purchases are capitalized,and long-term liabilities are accounted for in the appropriate funds. BUDGETS AND BUDGETARY ACCOUNTING The City of Renton budgets its funds in accordance with the Revised Code of Washington (RCW)35A.33. In compliance with the Code, annual appropriated ' budgets are adopted for the General, Special Revenue, Debt Service and Capital Projects Funds. Any unexpended appropriations lapse at the end of the fiscal year. For Governmental Funds,there are no substantial differences between the budgetary basis and generally accepted accounting principles. Budgetary accounts are integrated in fund ledgers for all budgeted funds,but the financial statements include budgetary comparisons for annually budgeted Governmental Funds only. Budgets established for Proprietary and Trust Funds are"management budgets,"and are not legally required to be reported. Annual appropriated budgets are adopted at the fund level. Subsidiary revenue and expenditure ledgers are used to compare the budgeted amounts with actual revenues and expenditures. As a management control device,the subsidiary ledgers monitor expenditures for individual functions and activities by object class. The City of Renton's budget procedures are mandated by RCW 35A.33. The steps in the budget process are as follows: 1) Prior to November 1, the Mayor submits a proposed budget to the City Council. This budget is based on priorities established by the Council and estimates provided by the City departments during the preceding months,and balanced with revenue estimates made by the Mayor. 2)The City Council conducts public hearings on the proposed budget in November and December. 3)The Council makes its adjustments to the proposed budget and adopts by ordinance a final balanced budget no later than December 31. 4) The final operating budget as adopted is published and distributed within the first four months of the following year. Copies of the budget are made available to the public. Transfers or revisions within funds are allowed, but only the City Council has the authority to increase or decrease a given fund's annual budget. This is accomplished by City ordinance. The budget was amended three times during 1995. Budget amounts presented in the basic financial statements include the original amounts,after all transfers and adjustments,as approved by the City Council. Encumbrances An encumbrance system is maintained to account for commitments resulting from approved purchase orders,contracts,and other commitments. Encumbrances remaining at year-end lapse and are cancelled. Upon request by the department and approval of the City Council, encumbrances may be reappropriated in the following year. At year-end,the City had encumbrances of$2,580,383. 20 ' City of Renton Notes to the Financial Statements ASSETS,LIABILITIES AND FUND EQUITY Cash&Cash Equivalents All highly liquid investments(including restricted assets)with a maturity of three months or less when purchased are considered cash equivalents. Included in this category are all funds invested in the Local Government Investment Pool and Municipal Investors Account. Excluded from this category are cash balances held by Fiscal Agents since the City does not have discretionary use of these funds. Cash held by Fiscal Agents is included in an investment type account. Investments �+ The City of Renton invests all short-term cash surpluses. A Surplus Bank Balance Fund is maintained to account for these residual investments and earnings are allocated to the General Fund. Investments are also held separately by several of the funds with interest earned directly for the benefit of each fund. Investments are reported on the financial statements at cost or amortized cost which approximates market,except for the assets held in the deferred compensation program which are valued at market. Washington State statutes provide for the City to hold investments consisting of obligations of the Federal government,repurchase agreements, prime banker's acceptances, and time certificates of deposit issued by Washington State depositories that participate in the Washington State Public Depository Protection Commission(WPDPC). The WPDPC is a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission. Additional deposit and investment information is presented in Note 3. Inventories w.. Inventories carried in Proprietary Funds are valued at average cost which approximates the market value. The inventory in the Waterworks Utility Fund is charged out at average cost plus a 20%handling fee when issued,and the inventory in the Equipment Rental Fund is issued at average cost. The inventory at the Golf Course is the merchandise that is sold to the public. This inventory is valued at actual cost. A physical count is taken at year-end at all inventory locations. Governmental Funds use the purchase method whereby inventory items are considered expenditures when purchased. The amount outstanding at year-end is immaterial and is,therefore,not included on the balance sheet. Property Taxes Receivable The County Finance Director acts as an agent to collect property taxes levied in the county for all taxing authorities. Taxes are levied annually on January I on property value listed as of the prior August 31. Assessed values are established by the County Assessor at 100%of fair market value. A revaluation of all property is required every two years. Property tares levied by the County Assessor and collected by the County Finance Director become a lien on the first day of the levy year and may be paid in two equal installments if the total amount exceeds$30. The first half of real property taxes is due on April 30 and the balance is due October 31. Delinquent taxes bear interest at the rate of 12%and are subject to additional penalties if not paid as scheduled. At year-end,property taxes are recorded as a receivable with the portion not expected to be collected within 30 days offset by deferred revenue. During the year, property tax revenues are recognized when cash is received. The tax rate for general City operations is limited to $3.60 per $1,000 of assessed value. Of this amount, up to $.45 per thousand may be designated for contribution to the Firemen's Pension Fund if a report by a qualified actuary indicates that additional funds are required. The payment of principal and interest on Limited Tax(non-voted)Bonds issued by the City is made from the general levy. Accordingly,the issuance of Limited Tax General Obligation Bonds has the effect of reducing property taxes available for the general operations of City government. In 1995, the City levied $3.474645 per$1,000 of assessed valuation for general purposes and$.07989 for the Firemen's Pension Fund,for a total general tax levy of$3.55454. .. State law also provides that the City's operating levy may not exceed 106%of the largest single levy of the past three years. The State Constitution provides that the total of all taxes upon real and personal property by the State and all taxing entities, including the City,shall not in any year exceed 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 the City voters at an election in which the total vote exceeds 40%of the votes cast at the last preceding general election. For 1995, the City's general tax levy was $3.55454 and the excess levy for Unlimited General Obligation Bonds issued for the construction of Gene Coulon Memorial Beach Park and Senior Housing was$.36408; a total of$3.91862 per$1,000 on a total assessed valuation of$3,579,700,073, per the King County Assessor's 1995 Annual Report. Estimated and actual property tax revenue is compared in the following table: Table 1: Property Tax Lev �r Item Estimated Property Actual Property Variance General Levy $ 12,652,149 $ 12,346,496 $ (305,653) Excess Levy 1,277,000 1,246,579 (30,421) Totals $ 13,929,149 1 $ 13,593,075 $ (336,074) Assessments Receivable Unpaid special assessments receivable is reported in three accounts: current, delinquent, and deferred. Current assessments are those due within one month; delinquent assessments are past due; and deferred assessments are due beyond one month. Revenue from the assessments is recognized as it becomes current- that is,both measurable and available to finance expenditures of the current period. .,r. Fixed Assets and Depreciation The accounting and reporting treatment applied to the fixed assets associated with a fund are determined by its measurement focus. Fixed assets acquired in Governmental Funds are accounted for as expenditures in the fund when the assets are purchased and are capitalized in the General Fixed Asset Account Group at historical cost. Where historical cost is not known,assets are recorded at estimated historical cost. Donated assets are valued at estimated fair market value at the time received. Infrastructure such as roads,bridges and curbs are considered public property and are not capitalized in the General Fixed Assets Account Group. Governmental Fund assets are not depreciated. 21 City of Renton Notes to the Financial Statements ' Fixed assets of the Enterprise and Internal Service Funds are recorded at historical cost,and are accounted for in their respective funds. Capital contributions are recorded as contributed capital and the assets are capitalized at their estimated fair market value at the date of donation. Fixed assets used by Proprietary Funds are depreciated and the accumulated depreciation is reported in Proprietary Fund Balance Sheets. Annual depreciation is ' recorded as an expense of the fund. Depreciation is computed using the straight line method over estimated service life as follows: Table 2: Fixed Asset Service Life Asset Estimated Service Life Buildings 25-50 years Non-Building Improvements 25-50 years , Utility Plant 25-75 years Equipment 3-20 yeHs *See Note 7 for additional information Accumulated Unpaid Vacation and Sick Pav Labor contracts with City of Renton employees call for the accumulation of vacation and sick leave. At termination of employment,employees with the required length of service may receive cash payments for all accumulated vacation leave to a maximum of 432 hours. Sick leave termination benefits are based on a percentage of accumulated sick leave up to a maximum of 480 hours. The payment is based on current wages at termination. Accumulated amounts of vacation leave and related benefits are accrued as expenses when incurred in Proprietary Funds. The current portion of the Enterprise Funds,$38,859, and the Internal Service Funds,$5,060,is included with the current liability accounts Accrued Wages Payable and Accrued Employee Benefits Payable. In Governmental Funds, only the current portion of the yearly accrual (based on last in-first out formula) left unpaid at the end of the fiscal year is recorded as fund liability and expenditure. The remainder of the liability is reported in the General Long-Term Debt Account Group. This reporting format is in compliance with GASB Statement 16. At year-end 1995,the Governmental Funds recorded current liabilities of$218,231 on the respective balance sheets and a long-term liability for the non-current portion of accumulated vacation and related benefits in the amount of$1,729,355 in the General Long-Term Debt Account Group. The unpaid liability in the Proprietary Funds at December 31 was$177,736. Accumulated sick leave and related benefits are also based on GASB Statement 16 which calls for accrual of Proprietary Fund liabilities and inclusion of Governmental Fund liabilities in the General Long-Term Debt Account Group. These amounts at December 31, 1995, were $133,952 and $1,711,117, respectively.The following table details the total vacation and sick leave liability: Table 3: Employee Leave Payable Item Current Long-Term Total General Governmental Funds $ 218,231 $ 0 $ 218,231 General Long-Term Debt 0 3,440,472 3,440,472 Proprietary Funds 43,919 311,688 355,607 Total Leave Benefits $ 262,150 $ 3,752,160 $ 4,014,310 ' Fund Equity-Reserves and Designations The City recognized in its reporting that assets are sometimes not"available spendable resources"or at times legally available for appropriations,because they are contractually or legally restricted for some specific future use. When this is the case,as for example with debt service,fund equity is"reserved." However,when management sets aside portions of fund equity based upon tentative future plans or for administrative convenience,these restrictions are reported as"designations" of unreserved fund equity. Designation is not used in Proprietary Funds. Direct Charges/Credits to Enterprise Funds Retained Earnings The Airport Fund has credited$126,781 directly to retained earnings,representing the retirement of Federal and State contributed capital for the current year. Risk Management and Risk Retention It is the City of Renton's policy to self-insure first level coverages for property,liability,worker's compensation,and employee medical coverages. For mid-level and catastrophic losses the City purchases both commercial insurance coverage,and reserves the right to invoke provisions of RCW 35A31.060,which allows cities to levy a non-voted property tax increase to pay for uninsured claims. As of December 31, 1995,the Insurance Fund's unreserved retained earnings totaled $2,441,956. See Note 17 for additional information. NOTE 2-STEWARDSHIP COMPLIANCE,AND ACCOUNTABILITY There have been no material violations of finance related legal or contractual provisions. 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. Investments are also held separately by several of the funds with interest earned directly for the benefit of each fund. 22 City of Renton Notes to the Financia!Statements DEPOSITS All deposits are covered entirely by Federal Depository Insurance (FDIC)or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (WPDPC). The FDIC insures the City's deposits up to $100,000, and the WPDPC insures amounts over $100,000. The WPDPC provides for additional assessments against members of the pool on a pro rata basis. Accordingly,the deposits covered by WPDPC are ' considered to be insured and classified as risk category 1. The City had$50,497,224 in cash and investments at year-end,which consisted of$16,000,713 in the State investment Pool and Municipal Investors Account,$211,000 in certificates of deposit,$32,705,024 in other investments, and$17,282 in petty cash. All cash in excess of current requirements was invested at year-end with bank deposits reporting a cash balance of$1,563,205. Table 4 displays the breakdown of cash and deposits by type of deposits and by fund type. Table 4: Reconciliation of Cash and Investments by Fund Group w Fund Group Cash State Investment Subtotal Cash& Restricted Total All Restricted Total Cash & Pool/MIA* Cash Equivalents Cash Cash&Cash Investments Investments Equivalents Investments General $ (145,190) $ 3,772,213 $ 3,627,023 $ 0 $ 3,627,023 $ 0 $ 0 $ 3,627,023 Special Revenue 336,578 1,716,500 2,053,076 0 2,053,076 8,953,649 0 1.1,006,727 Debt Service 413,536 1,145,000 1,558,535 0 1,558,536 1,673,477 0 3,232,013 Capital Projects 226,702 1,789,000 2,015,702 0 2,015,702 5,525,517 0 7,541,219 Enterprise (1,108,900) 5,125,000 4,016,101 1,589,314 5,605,414 5,497,506 6,013,667 17,116,587 Internal Service 95,064 2,363,000 2,458,063 0 2,458,064 2,324,978 0 4,783,042 Trust&Agency173,383 90,000 263,383 0 263,383 2,927,230 0 3,190,613 Total $ (8,827) $ 16,000,713 $ 15,991,883 $ 1,589,314 $ 17,581,200 $ 26,902,357 $ 6,013,667 $ 50,497,224 * Municipal Investor Account INVESTMENTS Washington State statutes provide for the City to hold investments consisting of obligations of the Federal government, repurchase agreements, prime banker's acceptances, and time certificates of deposit with authorized Washington State savings and loan institutions. Additionally, the Firemen's Pension Fund is authorized to invest in mutual funds and obligations of the Federal,State,and Local government-owned public utilities. All investments are valued at cost or amortized cost,which is substantially equivalent to market value. The City of Renton's investments are categorized to give an indication of the risk assumed at year-end. Category I 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 which are held by the counterparty's trust department or agent in the City's name. Category 3 includes uninsured and unregistered investments which are held by the counterparty's trust ,. department or agent in the agent's name. At the end of the year,the City had no investments in category 3. Aw Table 5: Classification of Investments As of December 31, 1995 Item Category 1 Category 2 Carrying Amount Market Value US Government 29,777,794 241,683 30,019,477 30,154,652 Bankers'Acceptance Convertible Bonds 259,421 259,421 292,867 Corporate Bonds 32,550 32,550 30,450 Sub-Total 29,777,794 533,654 30,311,448 30,477,969 Mutual Funds 2,393,576 2,393,576 3,280,438 Total Investments 29,777,794 2,927,230 32,705,024 33,758,407 NOTE 4-DEFERRED COMPENSATION The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. This plan is administered by the Hartford Life Insurance Company and the ICMA Retirement Corporation. The plans are available to all City employees which permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination,retirement,death,or unforeseeable emergency. Compensation deferred under the plans and all income attributable to the 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 paid to the employee or other beneficiary and are not restricted to the benefit provisions under the plan. The deferred compensation plans investments are recorded at market value,along with the corresponding liabilities in the deferred compensation fund. At +� December 31, 1995,the market value of the plans assets were$6,883,333. It is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have the duty of due care that would be 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. 23 City of Renton Notes to the Financial Statements NOTE 5-RECEIVABLES AND PAYABLES rw Table 6 details the specific receivables and payables at December 31, 1995. The City provides reserves for potentially uncollectible water,wastewater, storm, metro,solid waste utility,and airport charges. At December 31, 1995,these reserve balances were$78,857. Table 6: Net Receivables and Pa ables Special Debt Capital Internal Trust& Item General Enterprise Total Revenue Service Projects Service Agenc Receivables: Taxes $ 506,340 $ 0 $ 52,819 $ 0 $ 0 $ 0 $ 0 $ 559,159 Accounts 2,401,777 68,877 0 44,003 3,088,287 9,889 0 5,612,833 , Notes 0 0 0 0 18,260 0 0 18,260 Special Assess-Current 0 0 456 0 0 0 0 456 Special Assess-Delinq 0 0 284,747 0 0 0 0 284,747 Special Assess-Deferred 0 0 3,927,079 0 0 0 0 3,927,079 ' Interest-Special Assess 0 0 184,707 0 0 0 0 184,707 Interest on Investments 0 253,966 64,526 250,958 1 504,826 128,159 123,927 1,326,362 Total All Fund Types $2,908,117 $322,843 $4,514,334 $ 294,961 $ 3,611,373 $ 138,048 $ 123,927 $ 11,913,603 Payables: Matured Bonds Payable $ 0 $ 0 $ 30,000 $ 0 $ 0 $ 0 $ 0 $ 30,000 Matured Interest Payable 0 0 65,244 0 0 0 0 65,244 Accrued Interest Payable 0 0 0 0 382,094 11,757 0 393,851 Accrued Wages Payable 0 0 0 0 33,711 4,390 0 38,101 Accrued Benefits Payable 0 0 0 0 5,148 670 0 5,818 Accrued Taxes Payable 1 781 1 2,554 1 0 1 1,958 1 103,368 1 0 1 0 1 108,661 Total All Fund Types 1 $ 781 1 $ 2,554 1 $ 95,244 1 $ 1,958 1 $ 524,321 1 $ 16,817 $ 0 1 $ 641,675 Note Receivable: Table 6 details the current portion of the note receivable in the amount of $18,260 due from the Golf Course , Concessionaire. The non-current portion of this receivable is$121,740. INTERFUND RECEIVABLES AND PAYABLES ' Table 7: Interfund Receivables and Payables Item Due From Due To General Fund $ 82,328 $ 193,917 Special Revenue Funds: Park Fund 720 0 Street Fund 53,264 8,493 Community Development 28 20,000 Impact Mitigation (266) 5,251 Library 0 (266) ' Cable Communications Development 600 0 Total Special Revenue Funds 54,346 33,478 Debt Service Funds: 1989 Limited GO Refunding 8 0 1983 Unlimited GO 4,386 0 Miscellaneous Debt Service 1,399 0 1989 Unlimited GO 2,822 0 Total Debt Service Funds 8,615 0 Capital Project Funds: Municipal Facilities Construction 1,399 0 Capital Improvement Fund 0 54,470 Total Capital Project Funds 1,399 54,470 Enterprise Funds: Waterworks Utility Fund 61,674 0 Airport Fund 36,404 8,769 Solid Waste Utility Fund 0 103,181 Golf Course Fund 145,379 0 Water&Sewer Construction 0 5,871 Total Enterprise Funds 243,457 117,821 Internal Service Funds: Insurance 9,541 0 ' Total Internal Service Funds 9,541 0 Total All Fund Types $ 399,6861 $ 399,686 24 , City of Renton Notes to the Financial Statements INTERFUND LOANS/ADVANCES RECEIVABLE&PAYABLE The following is a reconciliation of the$248,057 interfund loans and advances of which$59,130 is current and$188,927 is long term: Table 8: lnterfund Loans/Advances Receivable and Payable Interfund Loans/Advances .. Fund Receivable Payable General Fund $ 79,000 $ 0 Special Revenue Funds: Community Dev Block Grant 0 75,000 «. Internal Service Funds: Insurance Fund 19,057 0 Enterprise Funds: Golf Course 0 169,057 „ Agency&Trust Funds Firemen's Pension 150,000 0 Advance Travel 0 1 4,000 Total All Fund Grou s $ 248,057 $ 248,057 INTERGOVERNMENTAL RECEIVABLES At December 31, 1995,the receivables from other governmental units included federal,state and local grants receivable of$2,318,380,and several miscellaneous receivables amounting to$432,164. Included in these miscellaneous receivables are:$368,410 from Bryn Mawr-Lakeridge Water&Sewer District for their 25% share of a water joint facilities project;and$63,754 from King County. Table 9: Due From Other Governmental Units Source Amount .. rants: US Department of Justice $ 49,066 US Department of Agriculture 58,442 US Department of Ecology 10,845 Federal Emergency Management Agency 7,253 WA Department of Housing&Community Development 103,340 WA Department of Transportation 1,756,932 WA Department of Commerce 332,502 Subtotal-All Grants $ 2,318,380 ... ther Governmental Receivables: Bryn Mawr-Lakeridge Water&Sewer District 368,410 Kin"County 63,754 Total Due All Grants $ 21750,544 .r INTERGOVERNMENTAL PAYABLES A total of$1,225,487 was recorded as due to other governmental units at December 31, 1995. This included: 1)$22,216 for Narcotics grant reimbursement to the agencies as follows: $5,837 to the City of Tukwila;$6,726 to the City of Auburn;and$9,653 to the City of Kent;2)$984,257 is the portion of Municipal Court's outstanding receivables for bail due to the State; and 3) $219,014 to the Washington State Department of Community Development for current portion due on Public Works Trust Fund loans. NOTE 6-OPERATING AND RESIDUAL EQUITY TRANSFERS lnterfund transfers are classified as either operating transfers or residual equity transfers. Operating transfers are accounted for as"other financing sources or uses" and are included in the operating statements. Residual equity transfers are direct additions or subtractions to fund balance/fund equity. Contributions to Proprietary Funds are recorded as contributed capital in those funds. The following interfund transactions occurred in 1995: Table 10: Residual Equity Transfers Transfer Transfer Fund In Out General $ 0 $ 10,482 Special Assessment Guaranty 0 250,000 Municipal Facilities Construction 250,000 0 Equipment Rental 10,482 0 Total Transfers $ 260,482 $ 26Q482 25 City of Renton Notes to the Financial Statements Table 11: Operating Transfers Transfers Transfers Fund Type In Out General Governmental General $ 16,333 $ 1,645,860 Parks 4,000 8,500 Arterial Street 0 526,252 Street 0 200,000 Impact Mitigation 0 526 Paths/Trails 0 2,091 General Governmental Debt 0 137,449 Special Assessment Debt 526 70,410 Open Space 148,300 0 �- Municipal Facilities 1,253,389 148,300 Capital Improvements 526,252 16,333 Proprietary Funds: Waterworks Utility 70,410 20,000 Golf 325,602 0 Equipment Rental 120,000 4,000 Insurance 314,909 0 Totals $ 2,779,721 $ 2,779,721 NOTE 7-FIXED ASSETS ' General Fixed Assets are long lived assets of the City as a whole. When purchased, leased, or constructed, such assets are recorded as expenditures in the Governmental Funds and capitalized in the General Fixed Assets Account Group. All fixed assets are valued at historical cost,estimated historical cost,or fair market value at time of donation. No depreciation has been provided on general fixed assets,nor has interest been capitalized. Infrastructure assets are considered public property and are not accounted for in the General Fixed Assets Account Group. At the end of 1995,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 1995 and the Construction Work In Progress at the end of the year. Table 12: Chanes in General Fixed Assets ' Asset Beginning Balance Additions Deletions Ending Balance Land $ 14,040,984 $ 5,354,961 $ 0 $ 19,395,945 Building 20,675,694 108,151 0 20,783,845 Non-Building Improvements 13,804,890 913,463 0 14,718,353 Equipment 6,465,601 968,166 112,600 7,321,167 Construction in Progress 7,548,930 2,353,965 4,342,926 5,559,969 Joint Venture 1,062,201 19,674 0 1,081,875 Total $ 63,598,301 $ 9,718,380 $ 4,455,526 $ 68,861,154 Table 13: Construction Work In Progress Estimated Estimated Project Cost To Date Remaining Costs Total Cost Cedar River Trail $ 1,967,358 $ 1,147,852 $ 3,115,210 Cedar River Trail/Narco Acquisition 3,190,162 313,845 3,504,007 Lake Washington Waterfront 24,856 87,523 112,379 Boeing Trail 2,636 42,375 45,011 Library Improvements 8,853 69,573 78,426 Cedar River Park Improvements 22,726 7,274 30,000 Municipal Space Needs 60,214 1,840,027 1,900,241 Station 414 Site Acquisition 132,067 3,355,392 3,487,459 Library Automation Project 149,508 300,492 450,000 Lake Washington Bath House 1,589 145,7641 147,353 Total $ 5,559,969 $ 7,310,117 1 $ 12,870,086 Fixed assets of Proprietary Funds are capitalized in their respective balance sheets. These assets are stated at cost, estimated cost when original cost is not available,or fair market value at the time received in the case of contributions. Depreciation expense is charged to operations of Proprietary Funds to allocate the cost of fixed assets over their estimated useful lives,using the straight-line method with useful lives of 3 to 75 years. The City's policy is to capitalize net interest on Proprietary Fund 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 1995, interest costs incurred on construction projects in Proprietary Funds were not material. 1 26 City of Renton Notes to the Financia!Statements Table 14 provides a summary of Proprietary Fund property,plant,and equipment as of December 31, 1995. Table 14: Proprietary Property,Plant&Equipment Waterworks Airport Solid Waste Golf Course Total Equipment Total Internal Asset Utility Fund Utility Fund Enterprise Rental Insurance Service Land $ 2,270,629 $ 784,080 $ 0 $ 2,683,200 $ 5,737,909 $ 0 $ 0 $ 0 Buildings 5,065,469 353,516 0 3,879,135 9,298,120 0 0 0 Equipment 3,938,518 42,483 390,395 607,605 4,979,001 4,499,921 5,993 4,505,914 Other Improvements 110,821,621 8,043,707 0 2,668,915 121,534,243 0 0 0 Construction Work in Progress 8,417,001 116,094 0 0 8,533,095 0 0 0 +. Total Assets 130,513,238 9,339,880 390,395 9,838,855 150,082,368 4,499,921 5,993 4,505,914 Less Accumulated Depreciation 26,052,143 5,615,924 172,001 586,217 32,426,285 2,664,048 0 2,664,048 Net Property,Plant, .. &E uipm $104,461,095 $3,723,956 $ 218,394 $ 9,252,638 $ 117,656,083 $ 1,835,873 $ 5,993 $ 1,841,866 CONTRIBUTED CAPITAL RETIREMENT ,.. The Airport Fund has$5,750,383 of contributed capital which includes$5,613,692 of Federal,$53,775 of State,and$82,916 of private sources which is being retired on an annual basis. The unamortized balance as of December 31, 1995,was$1,755,451. The Airport is the only fund which amortizes its contributed capital at this time. The Waterworks Utility Fund has $74,326,819 of contributed capital. The Equipment Rental Fund has$1,048,674 of contributed capital,and the Golf Course Fund has$5,000 of contributed capital. These funds'contributed capital are not being retired. NOTE 8-PREPAID ITEMS The General Fund has recorded$13,000 of prepaid items at December 31, 1995. This amount represents prepaid postage charges to be expensed in 1996_ The Insurance Fund has recorded$3,000 of prepaid items at December 31, 1995. This amount represents a revolving fund established to pay claims by our insurance broker. NOTE 9-JOINT VENTURE The "Valley Communications Center" was established August 20, 1976, when an Interlocal Agreement was entered into by the four participating municipal corporations,including the cities of Renton,Kent,Auburn,and Tukwila. The agreement is sanctioned by the provisions and terms of the"Interlocal Cooperation Act" pursuant to RCW 39.34. The initial duration of the agreement was five years, and thereafter is automatically extended for consecutive two-year periods, unless terminated by one or more of the participating cities. Any such termination must be in writing and served upon the other cities on or before July I in any one year,and such termination shall then become effective on the last day of such year. The purpose of the joint operation,hereafter referred to as Valley-Com, is to provide improved consolidated emergency communications(dispatch)services for police,fire,and medical aid,to the four participating cities and to the several subscribing agencies,which include King County Fire Districts#20,#40,#43,#44, #46,#47;City of Pacific Police and Fire Departments;City of Algona Police Department;and Valley Medic Units. Separate agreements between Valley-Com and the subscribing agencies have been executed,which set forth conditions of services and rates charged. The allocation of prorated financial participation among the four participating cities is the percentage of dispatched calls attributed to each jurisdiction compared to the total estimated dispatched calls,for the current twelve month period ending December 3l. The percentages are applied to the current approved budget,less revenue from all other sources. Distribution of current year net income is based on the same percentages. The 1995 cost distribution for the four participating cities was as follows: Table 15: Joint Venture Cost Distribution City Dispatchable Calls %of Total 1995 Assessments Renton 54,351 27.76 780,973 Kent 58,616 29.94 842,303 Auburn 4.3,097 22.02 562,466 Tukwila 39,700 20.28 570,538 Total 195,764 100% 2,756,280 Valley-Com is governed by an Administration Board,composed of the Mayors or designated representatives from the four participating cities of Renton,Kent, Auburn,and Tukwila. The Administration Board is responsible for the following functions: 1)Budget review and recommendations to the legislative bodies of the participating cities, and budget adoption after each legislative body has approved the required financial participation for the ensuing year; 2) Approves appointment and/or discharge of the Director;3)Approves personnel policy and makes final decisions on all major policy changes; and,4)Reviews and approves r' all contracts. In addition,an Operations Board provides direction,and consists of two members of each participating city's Public Safety Departments, including the heads of such departments or their designees. The Operations Board performs the following functions: 1)Oversees the operation of Valley-Com,and advises and makes ... recommendations to the Administration Board;2)Makes recommendations on Director selection;3)Presents proposed policies and budgets to the Admin.Board; and,4)Approves disbursement of funds by the Director. 27 City of Renton Notes to the Financia!Statements The Director presents a proposed budget to the Operating Board on or before August 15 of each year. Said budget is then presented to the Admin. Board by September l of each year. The Admin.Board can make changes to the proposed Valley-Com budget as it finds necessary,but final approval falls to the legislative body of each participating city,in accordance with the provisions of the Interlocal Agreement. Tables 16 and 17 show the condensed financial position as of December 31,and the results of operation and changes in retained earnings for the year ended 1995. Table 16: Balance Sheet Item Amount , Assets: Current Assets $ 5,170,561 Property,Plant and Equipment 8,780,341 Total Assets 13,950,902 ' Liabilities and Fund Equity: Current Liabilities 400,420 Long-Term Liabilities 0 Total Liabilities 400,420 ' Retained Earnings 3,672,602 Contributed Capital 9,877,880 Total Fund Equity 13,550,482 Total Liabilities and Fund Equity $ 27,901,804 Table 17: Statement of Revenues,Expenses and Chanes in Retained Earnings ' Item Amount Operating Revenues: Intergovernmental Charges $ 3,669,302 ' Miscellaneous 3,574 Transfers In 0 Total Operating Revenues 3,672,876 Operating Expenses (3,293,484) Net Operating Income 379,392 Non-Operating Revenues(Expenses): Interest and Misc.Revenues 125,137 Interest Expense (624) Total Non-Operating Revenues(Expenses) 124,513 Net Income(Loss) 503,905 Retained Earnings at Beginning of Year 3,168,697 Retained Earnings at End of Year 3,672,602 Contributed Capital 6,551,191 800-MHz Contributed Capital 3,326,689 Total Fund Equity at End of Year $ 13,550,482 The share of equity belonging to the four participating cities is shown in Table 18 below. Liabilities are the responsibility of the four participating cities in direct proportion to their equity position. Audited, 1995 financial statements are available from Valley-Com. Table 18: Joint Venture E uit Item Renton Kent Auburn Tukwila Total Equity 12/31/93 $ 1,062,201 $ 1,105,216 $ 865,406 $ 661,794 $ 3,694,617 Prior Period Adjustments 120,210 131,256 95,085 86,637 433,188 Adjusted Equity I/1/94 941,991 973,960 770,321 575,157 3,261,429 1995 Increase 139,884 150,869 110,960 102,192 503,905 Equity 12/31/94 $ 1,081,875 $ 1,124,829 $ 881,281 $ 677,349 $ 3,765,334 %of Equity 28.73% 29.87% 23.41% 17.99% 100.00% %of 1995 Distribution 27.76% 29.94% 22.02% 20.28% 100.00% ' 28 City of Renton Notes to the Financial Statements An agreement between the City of Kent and Valley-Com was established February 18, 1993,to provide for Valley-Corn's purchase of an 800-megahertz radio system and mobile data terminal system developed by the City of Kent. The 800-Megahertz system is to be incorporated into the County 800-Mhz system which is currently under development. The agreement establishes an interest-exempt payment schedule over a four-year period, beginning in 1993. The following summary outlines the outstanding purchase agreement: Table 19: Mobile Data Terminal/800-Megahertz Radio Purchase Agreement Item Interest Maturity I Authorized 1/1/95 Issued Redeemed 12/31/95 Rate Promissory Note 8.75% 04/01/95 $ 771,875 $ 56,447 $ 0 $ 56,447 $ 0 MDT Purchase 12/31/96 322,828 131,885 0 65,942 65,943 800-MHz Radio Purchase 12/31/96 850,000 850,000 0 850,000 0 ..� Total $ 1,944,703 $ 972,389 $ 0 $ 972.3891 65,943 In August 1993,Valley-Com entered into an interlocal cooperation agreement,pursuant to RCW 39.34,with the subregions of King County,Seattle,the Eastside Public Safety Communications Agency and the Port of Seattle. This agreement governs the development, acquisition and installation of the 800-megahertz emergency radio communications system funded by a$57 million King County levy approved in November 1992. This agreement provides that,upon voluntary termination of any subregion's participation in the system, it surrenders its radio frequencies reglinquishes its equipment and transfers any unexpended levy proceeds and associated equipment replacement reserves to another subregion or consortium of subregions. In accordance with this agreement,the participating cities of Valley-Com have no equity interest in Valley-Corn's 800-megahertz contributed capital(King County levy distribution and interest earned)of$9,785,148 as of December 31, 1995. NOTE 10-PENSION PLAN&OTHER POSTEMPLOYMENT BENEFITS All of the City's full-time and qualifying part-time employees participate in 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 Retirement Systems;and 3)The Firemen's Pension System established and administered by the City according to State statute. The City's total payroll for all employees was$26,339,617.80 for the year ended December 31, 1995. ,,. The pension benefit obligation presented by each system are standard disclosure measures of the present value of pension benefits, adjusted for the effects of credited projected salary increases and step-rate benefits(LEOFF only)estimated to be payable in the future as a result of employee service to date. The measure, which is the actuarial present value of projected benefits, is intended to help users assess the system's funding status on a going concern basis,assess progress made in accumulating sufficient assets to pay benefits when due,and make comparisons among systems and employers. The standardized disclosure method is independent of the actuarial funding method used to determine contributions to the retirement systems. Table 20: PERS and LEOFF Information By Plan PERS PLAN I PERS PLAN Il LEOFF PLAN I LEOFF PLAN II (Membership prior to (Membership on or (Membership prior to (Membership on or Item 10/1/77) 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 @ 12/31/94 6.00% 5.08% 6.00% 8.41% Actual Amount $ 176,794 $ 590,5099 $ 161,477 $ 604,677 Required rate cr 12/31/94 6.00% 5.06% 6.00% 8.41% Required Amount $ 176,794 $ 588,185 $ 161,477 $ 611,148 +.. Employer Contribution: Actual rate @ 12/31/94 7.42% 7.41% 6.00% 5.05% Actual Amount $ 218,635 $ 793,074 $ 161,477 $ 363,094 Required rate @ 12/31/94 7.48% 7.21% 6.00% 5.05% Required Amount $ 220,404 $ 754,974 $ 161.477 $ 366,689 * Receive reduced benefits. 29 City of Renton Notes to the Financial Statements PUBLIC EMPLOYEE'S RETIREMENT SYSTEM no PERS is a contributory multi-employer cost-sharing retirement system. All of the City's non-uniformed employees are covered by this system. Membership in the system includes elected officials; state and local governmental employees; and other public employees. Approximately 50% of PERS members are state employees. The system provides retirement benefits at 2.0%of the final average salary per year of service. During the 1995 Washington State Legislative Session, the Washington State Legislature approved a change in retirement law that will not become effective until after the close of fiscal year 1995. The existing Cost of Living Allowance(COLA)benefits based on the loss of purchasing power in PERS I was repealed and replaced with a COLA based on years of service. The COLA will increase the employer contribution rate by.16 percent. LAW ENFORCEMENT OFFICERS&FIRE FIGHTERS RETIREMENT SYSTEM ' The LEOFF system is also a contributory multi-employer cost-sharing system for all uniformed law enforcement officers and fire fighters. The retirement benefits are calculated as a percentage of final average salary based on years of service. Contributions to both systems by employee and employer are based on actuarially , determined requirements and established by State statute. The City's contribution in 1995 represents its full liability under both systems except certain medical and disability premiums under the LEOFF Plan I,which are considered immaterial. There were no material changes in benefit provisions,actuarial assumptions, actuarial funding methods,or other significant facts and the aggregate effect on the employer's contribution rate. Table 21: PERS and LEOFF Information By System , Item (dollars in millions) PERS LEOFF ' City Payroll Covered $ 13.486 $ 10.042 City's Contribution as%of Covered Payroll 7.55% 5.50% Employee Contibution as%of Covered Payroll 5.22% 7.72% Total Payroll Covered By System $ 5,048 $ 558.3 ' City's Actuarially Determined Contribution Requirement as a%of Total Contribution Requirement 0.27% 1.80% Total Pension Benefit Obligations $ 10,752 $ 4,612 , Less Net Assets Available For Benefits $ (9,621) $ (3,515) Unfunded Actuarial Present Value Of Accumulated Plan Benefits $ 1,131 $ 1,097 The system does not make separate measurements of assets and pension 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 the State Actuary as of December 31, 1995. Historical trend information showing the systems'progress in accumulating sufficient assets to pay benefits when due are presented in the State of Washington Department of Retirement Systems'June 30, 1995 Comprehensive Annual Financial Report. FIREMEN'S PENSION , Plan Description The City contributes to the Firemen's Pension Plan(the System), a closed,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 prior to March 1, 1970,when the LEOFF retirement system was established. The System is considered part of the City's reporting entity and is included in the City's financial statements as a pension trust fund. At December 31, 1995, there were 45 members in the System, including 40 retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them;5 vested active members and no nonvested active members. The City's payroll for employees covered by the System for the year ended December 31, 1995 was$270,730. , The retirement benefits vest after 20 years of service. Members may retire after 25 years of service regardless of age; and after age 50 with 20 or more years of service. The plan also provides death and disability benefits. The benefit provisions and all other requirements are established by State statute. Siznircant Accounting Policies and Plan Assets Please refer to Note I to the financial statements with regards to the significant accounting policies. Investments in the System are valued at cost,and completed transaction method is used in gain or loss recognition on exchanges of securities. There were no material changes in any accounting policies in 1995. Funding Status and Progress ' The contribution requirement and pension obligation was computed as part of an actuarial valuation performed as of December 31, 1995. Significant actuarial assumptions used in the valuation of both include: 1) 8%investment return,compounded annually,:2)6.25%salary increase annually, 5%due to inflation and 1.25%for merit increase;3)0%growth in fire insurance premium;4)8%annual increase in property tax;and 5)5%increase in consumer price index.There were no material changes to the benefit provisions,actuarial funding method or other significant factors that affect contributions required. 30 , City of Renton Notes to the Financial Statements Unfunded Pension Benefit Obligation The standardized measure of the unfunded pension benefit obligation as of December 31, 1995,is as follows: Table 22: Unfunded Pension Benefit Obligation Item Amount Retirees and beneficiaries currently receiving benefits $ 7,339,000 Current Employees: Cumulative Employee Contribution 42,000 Employer Contribution-vested 467,000 Total Pension Benefit Obligation $ 7,848,000 ... Net assets available for benefits,at cost (Market Value$3,373,000) 3,334,915 Unfunded Pension Obligation $ 4,513,085 Actuarial Funding Method&Amortization of Unfunded Pension Obli ation The System's funding policy requires the employer to make contributions for the actuarially determined amount using the Aggregate Cost funding method. This method does not explicitly calculate the cost of benefits accruing during the year for active employees, i.e., normal cost. On an estimated basis,approximately w. $40,000 of the 1995 cost is for active employees with the remaining amount paid toward reducing the unfunded liability.The unfunded obligation is amortized over the period ending December 3l,2008,assuming cost increases 8%annually. Employees are not required to make contributions. Pension benefit obligations were actuarially determined in 1982, 1986, 1988, 1990 and 1992. Amounts included for other periods were estimated based on the most recent actuarial result. The contributions to the System for 1995 of$286,000 were made in accordance with actuarially determined requirements and represent 60%of the covered payroll.Other incomes to the system include$69,471 from fire insurance premiums and$303,914 of investment income. Trend data presented below is designed to provide detailed information on the System's accumulation of sufficient assets to pay benefits when due. Table 23: Fire Pension Ten-Year Funding Progress Data Net Assets Pension Unfunded Annual Unfunded Pension Employer Fiscal Percentage Employer Contribution as a% Year Available for Benefit Funded Pension Covered Obligation as a% Contribution Benefits Obligation Obligation Payroll of Covered Payroll of Covered Payroll 1995 $ 3,334,915 $ 7,848,000 42.50% $ 4,513,085 $ 270,734 1680.12% $ 286,000 105.63% 1994 2,983,886 7,686,000 38.82% 4,702,114 335,676 1400.79% 257,000 76.56% 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 1,548,140 1 6,150,000 1 25.17% 1 4,601,860 1 516,247 1 891.41% 1 259,000 1 50.17% Table 24: Fire Pension Ten-Year Revenues and Expenses Revenue by Source Expenses by Type Fiscal Year Employer Fire Insurance Investment Total Revenue Benefits Administration Total Expenses Contributions I Premium Income 1995 $ 286,000 $ 69,471 $ 303,914 $ 659,385 $ 300,591 $ 7,765 $ 308,356 1994 257,000 78,893 281,189 617,082 295,605 3,157 298,762 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 f 259,000 1 51,960 1 179,568 1 490,528 1 221,680 1 5,879 1 227,559 ... OTHER POST EMPLOYMENT BENEFITS In addition to the pension benefits described in Note 10, the City provides post employment benefits in accordance with State statute to all LEOFF I (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 77 LEOFF I retirees who receive necessary medical and hospitalization coverage and 5 retirees who are covered solely by the Fire Pension Plan and receive medical coverage limited to treatment of service-related disabilities only. Expenditures for post employment health care benefits are recognized as retirees report claims. The City does not have a funding policy at this time and no assets are designated for this purpose. During the year,expenditures of$63,650 were recognized for postemployment health care. State statute provides that the City's responsibility for medical payments of LEOFF I retirees is secondary to any other coverage retirees receive or are eligible to receive. The City recognizes a potential savings exists when retirees utilize medicare as primary coverage and the City for secondary coverage and ineligible expenses. Therefore,upon reaching age 65,the City requires the retirees to apply for and utilize Medicare Part B coverage. The City reimburses these medicare premiums at an average cost of approximately$43 per month for 22 LEOFF I retirees and 5 Fire Pension retirees. 31 City of Renton Notes to the Financial Statements NOTE 11 -CONSTRUCTION COMMITMENTS r At December 31, 1995,the City had significant contractual construction commitments.These are listed below: Table 25: Construction Commitments ' Project Title Commitment Funding Source Revenue Bonds/Public Works Trust Waterworks Improvements $ 2,193,662 Fund Loans/Grants Parks Improvements 12,321 Grants Street Improvements 679,968 General/Grants Golf Course Improvements 3,337,347 Revenue Bonds Municipal Facilities $ 93,040 General NOTE 12-LONG-TERM DEBT AND CAPITAL LEASES , The City of Renton's long-term debt consists of General Obligation Debt, repaid mainly from general governmental revenue sources; Special Assessment Debt, repaid from special assessment payments from participants; and Proprietary Debt, repaid from proprietary revenues. These debts are accounted for in the following areas: 1)The outstanding general obligation debt,except for the portion applicable to proprietary operations,is reported in the General Long-Term Debt Account Group;2)The repayment,or debt service of the same,is recorded in the Debt Service Funds;AND 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 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, 1995. 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 Item Payable Added Retired Payable , 1/ 12/31/95 General: 1/95 General Obligation Bonds $ 15,769,620 $ 0 $ 1,442,635 $ 14,326,985 Installment Contracts 275,297 193,000 282,728 185,569 , Arbitrage 291,645 50,475 291,645 50,475 Special Assessment 4,141,000 0 450,000 3,691,000 Employee Leave Benefits 3,108,512 331,960 0 3,440,472 Total General $ 23,586,074 $ 575,435 $ 2,467,008 $ 21,694,501 Proprietary: Revenue Bonds $ 34,930,000 $ 0 $ 1,470,000 $ 33,460,000 General Obligation Bonds 5,115,380 0 562,365 4,553,015 Capital Leases 0 89,175 3,733 85,442 Arbitrage 11,685 750 0 12,435 ' Employee Leave Benefits 307,263 4,425 0 311,688 Public Works Trust Fund Loans 3,023,407 1,776,587 160,586 4,639,408 Total Proprietary $ 43,387,735 $ 1,870,937 $ 2,196,684 $ 43,061,988 Total All Funds General Obligation Bonds $ 20,885,000 $ 0 $ 2,005,000 $ 18,880,000 Revenue Bonds 34,930,000 0 1,470,000 33,460,000 Installment Contracts 275,297 193,000 282,728 185,569 Capital Leases 0 89,175 3,733 85,442 , Arbitrage 303,330 50,475 291,645 62,910 Special Assessment 4,141,000 0 450,000 3,691,000 Employee Leave Benefits 3,415,775 336,385 0 3,752,160 Public Works Trust Fund Loan 3,023,407 1 1,776,587 160,586 1 4,639,408 ' Total All Funds $ 66,973,809 $ 2,446,372 $ 4,663,692 1 $ 64,756,489 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$2,808,960 is the remaining obligation for this purchase and is reported on the balance sheet of the Enterprise Funds. Likewise,a pro rata share of the 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 govemment. Table 28 provides a reconciliation of debt distribution between the Proprietary Funds and the General Long Term Debt Account Group. 32 , City of Renton Notes to the Financial Statements Table 27 Outstanding Debt as of December 31, 1995 Interest Issue I Maturity Total Amount Outstanding Item Rates Date Date Issued 1/1/95 Issued Redeemed 12/31/95 GENERAL OBLIGATION BONDS: Limited 1978 Senior Citizens Center 5.38% 02/01/78 02/01/98 $ 900,000 $ 270,000 $ 0 S 60,000 S 210,000 1986 G O Bonds 6.50%-9.00% 06/01/86 06/01/02 9,220,000 1,095,000 0 525,000 570,000 1989 G 0 Bonds 6.10%7.00% 02/01/89 02/01/02 1,600,000 1,145,000 0 110,000 1,145,000 1989 G O Refunding Bonds 6.75%-7.00% 06/01/89 05/01/02 2,085,000 1,815,000 0 170,000 1,815,000 1992 GO Bonds 2.60%-5.00% 10/01/92 12/01/02 1,365,000 1,145,000 0 120,000 1,145,000 1993 G 0 Bond(FlexLine) 2.80%-4.95% 03/01/93 12/01/99 350,000 260,000 0 45,000 260,000 1993 G O Refunding Bonds 3.00%-4.80% 08/01/93 06/01/02 4,910,000 4,790,000 0 80,000 4,790,000 1994 G O Bonds 4.60%-6.30% 12/01/94 1 12/31/04 980,000 980,000 0 120,000 980,000 Subtotal Limited GO S 21,410,000 S 11,500,000 S 0 $ 1,230,000 S 10,270,000 Untimiled 1989 G O Bonds-Sr Housing 6.40%-7.50% 02/01/89 02/01/09 $ 5,500,000 $ 1,085,000 $ 0 S 190,000 $ 895,000 .+ 1994 G 0 Refunding Bonds-Coulon Pk(Tx) 4.00%-6.10% 09/01/93 05/01/02 4,660,000 4,060,000 0 545,000 3,515,000 1994 G O Refunding Bonds-Sr Housing 2.70%-5.20% 09/01/93 02/01/09 4,270,000 4,240,000 0 40,000 4,200,000 Subtotal Unlimited GO 14,430,000 9,385,000 0 775,000 8,610,000 Total General Obligation Bonds $ 35,840,000 $ 20,885,000 S 0 S 2,005,000 S 18,880,000 INSTALLMENT CONTRACTS: King County(Land) 10.00% 8/25/88 10/01/94 $ 90,300 S 46,584 $ 0 $ 10,037 S 36,547 Holm(Property) 10.00% 11/20/90 05/01/95 159,291 59,291 0 59,291 0 Holm Property Mortgage 10.50% 11/20/90 02/01/95 80,708 67,527 0 67,527 0 Telephone Lease 8.00% 04/17/89 08/01/95 549,574 96,927 0 96,927 0 Sheridan Property 10.00% 05/05/95 10/02/97 193,000 0 193,000 43,978 149,022 Printing Press Lease 11.25% 03/10/91 02/10/96 17,394 4,968 0 4,968 0 Total Installment Contracts $ 1,090,267 IS 275,297 1$ 193,000 1 $ 282,728 1 $ 185,569 ' TOTAL GENERAL OBLIGATION DEBT $ 36,930,267 S 21,160,297 IS 193,000 1 $ 2,287,728 1 S 19,065,569 REVENUE BONDS: 1977 Water/Sewer Refunding 6.01% 12/01/77 07/01/99 $ 3,045,000 S 1,395,000 S 0 S 255,000 S 1,140000 1985 Water/Sewer 9.73% 04/01/85 04/01/05 2,600,000 115,000 0 115,000 0 1986 Water/Sewer 7.90% 08/01/86 08/01/06 1,800,000 145,000 0 70,000 75,000 1987 Water/Sewer 7.55% 06/01/87 06/01/06 3,375,000 465,000 0 145,000 320,000 1988 Water/Sewer 7.56% 06/01/88 06/01/08 3,460,000 545,000 0 125,000 420,000 1989 Water/Sewer 6.859/7.50% 05/01/89 05/01/09 1,715,000 325,000 0 55,000 270,000 1989 Water/Sewer Refunding 6.00%7.10% 09/01/89 04/01/05 2,150,000 535,000 0 25,000 510,000 1990 Water/Sewer 5.90%7.37% 11/01/90 10/01/10 4,100,000 930,000 0 130,000 800,000 1992 Water/Sewer 3.50%-6.50% 06/01/92 12/01/12 4,000,000 3,775,000 0 120,000 3,655,000 1992 Water/Sewer Refunding 3.50%-6.35% 06/01/92 12/01/06 4,635,000 4,420,000 0 165,000 4,255,000 1993 Water/Sewer 3.0%-5.375% 08/01/93 04/01/13 5,285,000 5,120,000 0 170,000 4,950,000 1993 Water/Sewer Refunding 3.0%-5.375% 01/08/93 04/01/10 8,860,000 8,590,000 0 95,000 8,495,000 1994 Golf System 4.50%7.00% 07/01/94 06/01/15 5,000,000 5,000,000 0 0 5,000,000 1994 Water/Sewer 5.45%-6.55% 11/01/94 11/01/13 3,570,000 3,570,000 0 0 3,570,000 TOTAL REVENUE BONDS S 53,595,000 S 34,930,000 S 0 $ 1,470,000 $ 33,460,000 PUBLIC WORKS TRUST FUND LOANS: Northwest 7th Sewer Repair 5.00% 12/31/91 07/01/01 $ 84,779 $ 65,939 $ 0 $ 9,420 S 56,519 Sierra His Sewer Inprv, 3.00% 10/20/92 07/01/12 888,462 461,563 0 25,642 435,921 Central Renton Sewer Replacement 1.00% 06/14/93 07/01/13 1,687,450 96,519 1,590,931 5,080 1,682,370 East Renton Interceptor 2.00% 06/14/93 07/01/13 2,288,434 2,288,434 0 120,444 2,167,990 Dayton Avenue NE 2.00% 05/24/94 07/01/14 96,958 20,952 76,006 0 96,958 Sanitary Sewer Grouting 2.00% 05/19/94 07/01/04 90,000 90,000 0 0 90,000 NE 27th/Aberdeen Drainage Impry 1.00% 06/27/95 07/01/15 109,650 0 109,650 0 109,650 TOTAL PUBLIC WORKS TRUST FUND LOANS S 5,245,733 $ 3,023,407 $ 1,776,587 S 160,586 S 4,639,408 LID BONDS AND NOTES: 313 Street 6.25% 04/01/87 04/01/99 $ 12,239 $1,000 $ 0 $ 0 $1,000 314 Street/Utilities 9.0%-11.125% 09/01/89 09/01/01 6,789,084 745,000 0 170,000 575,000 326/331 Street 5.50%7.70% 10/01/86 10/01/98 372,160 5,000 0 5,000 0 330 Street/Utilities 5.50%7.30% 07/01/88 07/01/00 380,299 20,000 0 10,000 10,000 332 Street/Utilities 6.00°/7.75% 10/15/88 10/15/05 3,450,183 1,930,000 0 75,000 1,855,000 329 Street/Utilities 3.00%5.50% 04/01/93 04/01/03 1,654,063 1,440,000 0 190,000 1,250,000 TOTAL LID BONDS AND NOTES S 12,658,028 S 4,141,000 $ 0 $ 450,000 $ 3,691,000 CAPITAL LEASES 0 89,175 3,733 85,442 ARBITRAGE 303,330 51,225 291,645 62,910 EMPLOYEE LEAVE BENEFITS 3,415,775 336,385 0 3,752,160 TOTAL OUTSTANDING DEBT $ 108,429,028 $ 66,973,809 $ 2,395,897 $ 4,663,692 $ 64,756,489 33 City of Renton Notes to the Financial Statements Table 28: Pro Rata Debt Issue Waterworks Solid Waste Golf Equipment General Total Utility Utility Course Rental Long-Term Fund Debt 1986 General Obligation Bonds Payable-Long Term $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Payable-Current 50,160 0 253,080 24,510 242,250 570,000 Total 1986 General Obligation Bonds 50,160 0 253,080 24,510 242,250 570,000 1989 General Obligation Bonds: Payable-Long Term 0 0 0 182,385 732,615 915,000 , Payable-Current 0 0 0 23,880 96,120 120,000 Total 1989 General Obligation Bonds 0 0 0 206,265 828,735 1,035,000 1992 General Obligation Bonds: Payable-Long Term 0 0 207,000 693,000 900,000 , Payable-Current 0 0 0 28,750 96,250 125,000 Total 1992 General Obligation Bonds 0 0 0 235,750 789,250 1,025,000 1993 General Obligation Refunding Bonds: Payable-Long Term 407,000 0 2,053,500 198,875 1,965,625 4,625,000 , Payable-Current 7,480 0 37,740 3,655 36,125 85,000 Total 1993 General Obligation Ref Bonds 414,480 0 2,091,240 202,530 2,001,750 4,710,000 1993 General Obligation Bonds(Flexline): Payable-Long Term 0 165,000 0 0 0 165,000 ' Payable-Current 0 50,000 0 0 0 50,000 Total 1993 General Obligation Bonds 0 215,000 0 0 0 215,000 1994 General Obligation Bonds: Payable-Long Term 0 0 0 735,000 0 735,000 , Payable-Current 0 0 0 125,000 0 125,000 Total 1994 General Obligation Bonds 0 0 0 860,000 0 860,000 Other General Obligation Bonds 0 0 0 0 10,465,000 10,465,000 Installment Contracts 0 0 0 0 185,569 185,569 ' Total General Obligation Debt $ 464,640 $ 215,000 $2,344,320 $1,529,055 $14,512,554 $19.065,569 SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT As of December 31, 1995,a total of$3,691,000 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, 1995,special assessments receivables totaled$4,212,283 which includes $284,748 of delinquent assessments. In the guaranty fund,$722,303 represents 19.6%of special assessment debt outstanding. 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: 1.5% without a vote , of the people provided the indebtedness with a vote is 1%or less;2.5%with a vote of the people;5.0%with a vote of the people,provided the indebtedness in excess of 2.5%is for utilities;and 7.5%with a vote of the people, provided the indebtedness in excess of 5.0%is for open space development and parks facilities. At December3l, 1995,the debt limits for the City were as follows: Table 29: Debt Limit Capacities With a Vote of the People ' Item Without a Vote 2.5% 5.0% 7.5% Legal Limit $ 52,968,029 $ 88,280,048 $ 176,560,096 $ 264,840,144 OutstandingNet Indebtedness 10,137,196 14,843,042 14,843,042 17,845,335 Capacity Available $ 42,830,833 $ 73,437,006 $ 161,717,054 $ 246,994,809 34 City of Renton Notes to the Financial Statements a.. REFUNDED DEBT As of December 31, 1995,the City's refunded debt includes 10 outstanding general obligation and revenue bond issues. The proceeds of the new refunding «.. bond issues have been placed 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, 1995,and changes to refunded bonds payable are providedin the following tables. Table 30: Refunded Bonds First Trust Item Washington Seafirst Bank Key Bank Total Assets: Cash with Trustee $ 31,124 $ 86 $ 3,641 $ 34,851 Investments with Trustee 3,507,500 4,019,100 16,714,956 24,241,556 Estimated Interest Receivable 335,763 198,254 1,113,183 1,647,200 Total Assets 3,874,387 4,217,440 17,831,780 $25,923,607.00 Liabilities: Refunded Bonds Payable 3,705,000 3,775,000 15,480,000 22,960,000 Equity: Earnings with Trustee 169,387 442,440 2,351,780 2,963,607 Total Liabilities and Equity $ 3,874,387 $ 4,217,440 $ 17,831,780 $ 25,923,607 Table 31: Changes to Refunded Bonds Payable Balance Balance [tem 12/31/94 Increase Decrease 12/31/95 Refunded Bonds Payable GO $ 11,110,000 $ 0 $ 395,000 $ 10,715,000 Refunded Bonds Payable Revenue 14,280,000 1 0 2,035,000 12,245,000 Total $ 25,390,000 $ 0 $ 2,430,000 $ 22,960,000 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 32: Debt Service Requirement to Maturity General Installment RevenuePublic Works Special Total Obligation Bonds Contracts Bonds Trust Fund Loans Assessment Debt Long-Term Debt ear Principal hrterest Principal Interest Principal brterest Principal Interest Principal Interest Principal Interest 1996 52,140,000 : $952,971 $95,961 $14,735 $1,710,000: $1,879,664 $206,075: $72,868 $376,000: $246,303 $4,528,036' $3,166,541 1997 2,275,000E 832,563 76,248E 5,074 1,810,000: 1,780,769 266,793 i 72,514 670,000E 213,130 5,098,041 2,904,050 1998 2,395,000 ' 711,699 13,360 1,336 1,920,000: 1,675,804 266,793: 67,857 670,000: 176,758 5,265,153: 2,633,454 1999 2,455,000 : 582,065 0: 0 2,035,000: 1,565,580 266,793: 63,201 395,000: 130,103 5,151,7931 2,340,949 000 2,505,000 : 445,840 0: 0 1,750,000: 1,461,710 266,793: 58,544 395,000 105,163 4,916,793 2,071,257 001 2,000,000 : 325,348 0 i 0 1,860,000: 1,361,436 266,793: 53,888 395,000: 79,663 4,521,793: 1,820,335 002 2,015,000 : 215,165 0 E 0 1,945,000: 1,262,106 257,373: 49,231 395,000: 53,520 4,612,373: 1,580,022 003 395,000 : 146,778 0 E 0 2,070,000: 1,155,556 257,373: 45,045 395,000: 26,900 3,117,373E 1,374,279 004 420,000 : 127,100 0: 0 2,190,000: 1,040,448 257,373: 40,860 0: 0 2,867,373 1,208,408 005 410,000E 105,610 0: 0 2,300,000E 916,370 247,373E 36,674 0: 0 2,957,373 1,058,654 006 430,000 : 84,815 O E 0 2,190,000: 789,573 247,373: 32,689 0: 0 2,867,373 907,077 007 455,000 : 62,463 0 E 0 1,795,000: 676,021 247,373: 28,703 0: 0 2,497,373: 767,187 008 480,000 : 38,560 0 E 0 1,900,000E 570,474 247,373: 24,717 0: 0 2,627,373: 633,751 009 505,000E 13,130 0: 0 1,665,000: 467,166 247,373: 20,732 OE 0 2,417,373: 501,028 010 0 : 0 0: 0 1,605,000: 370,969 247,373: 16,746 0: 0 1,852,373E 387,715 011 0 : 0 0 i 0 1,335,000: 282,700 247,373: 12,760 0: 0 1,582,373: 295,460 012 0 E 0 0: 0 1,415,000: 197,115 247,373E 8,775 0: 0 1,662,373E 205,890 L01 0 E 0 0 E 0 1,150,000: 118,011 221,730: 4,789 0 E 0 1,371,730: 122,800 0 E 0 0: 0 395,000: 57,050 65,819: 1,316 0: 0 460,819: 58,366 0 : 0 0 E 0 420,000E 29,400 60,716: 607 0: 0 480,716: 30,007 $18,880,000 S4,644,107 1 5185,569E $21,1451 S33,460,0001 517,657,922 1 $4,639,408 1 $712,5161 $3,691,0001 $1,031,5401 $60,855,977 $24,067,230 35 City of Renton Notes to the Financia!Statements AMOUNT AVAILABLE FOR DEBT SERVICE Fund balances that have been reserved for debt repayment are: $50,475 in the capital projects fund and$3,767,064 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$62,910. CAPITAL LEASES The City entered into a lease agreement in 1995 as lessee for financing the acquisition of golf carts for its Municipal Golf Course. The lease qualifies as a capital lease for accounting purposes. Therefore,at inception of the lease,the golf carts were recorded as assets with a corresponding long-term liability equal to the present value of the future lease payments which totaled$89,175. The fund records lease payments as reductions of the longterm liability and as interest expense over the life of the lease. As of December 31, 1995, the current and long term portions of capital leases payable were $20,408 and $65,034,respectively. Table 33 provides the future minimum lease obligations and the net present value of these minimum lease payments as of December ' 31, 1995. Table 33: Capital Lease Obligations: , Year Ending December 31, Golf Course Fund 1996 $ 25,048 1997 25,048 ' 1998 25,048 1999 20,874 Total Minimum Lease Payments 96,018 Less: Interest (10,576) , Present Value of Minimum Lease Payments $ 85,442 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, 1995,there was a balance remaining of$128,000. 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 Equity Reserved For: General Debt Capital Enterprise Internal Trust Total Fund Service Projects Services I &Agency Debt Service/Arbitrage $ 0 $3,767,064 $ 50,475 $ 3,148,893 $ 0 $ 0 $ 6,966,432 , Advances/Other Funds/Prepaids 212,000 0 0 0 0 212,000 Pension Obligation 0 0 0 0 7,848,000 7,848,000 Bargaining Unit Deferral 0 0 0 0 59,451 0 59,451 Total $ 212,000 $3,767,064 $ 50,475 $ 3,148,893 $ 59,451 $ 7,848,000 $ 15,085,883 , Table 35: Unreserved Designated Fund Equi ' Equity Designated For: General Fund Inmate Health&Welfare $ 17,628 Investigative Fund Confiscations 580,741 Total $ 598.368 , 36 , 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 31,1995,follows: .. Table 36: Segment Information for Enterprise Funds Item Waterworks Airport Solid Waste Golf Course Total Enterprise Utility Funds Total Operating Revenue $ 18,681,975 $ 675,781 $ 6,223,376 $ 1,073,046 $ 26,654,178 Operating Expenses: Operations&Maintenance 9,944,728 211,766 5,530,176 762,397 16,449,067 Administrative&General 1,712,501 91,116 0 0 1,803,617 Insurance 0 14,776 0 0 14,776 Taxes 1,529,819 0 846,323 4,886 2,381,028 Depreciation 2,098,039 174,978 55,847 99,596 2,428,460 Total Operating Expenses 15,285,087 492,636 6,432,346 866,879 23,076,948 NetOperating Income(Loss) 3,396,888 183,145 (208,970) 206,167 3,577,230 Non-Operating Revenue Net of Expenses (997,363) 113,053 130,586 (334,130) (1,087,854) Operating Transfers In(Out) 50,410 0 0 325,602 376,012 Net Income(Loss)Before Extraordinary Item 2,449,935 296,198 (78,384) 197,639 2,865,388 Net Income(Loss) 2,449,935 296,198 (78,384) 197,639 2,865,388 Net Working Capital 3,380,876 2,148,556 381,954 (196,506) 5,714,880 Additions to Property,Plant and Equipment,Net of Disposals 6,410,500 (152,257) (53,686) 3,442,994 9,647,551 Total Assets 122,141,359 6,013,975 1,376,298 10,253,504 139,785,136 Long Term Debt,Net of Current Portion Bond Premium/Discount 26,721,562 0 0 6,810,805 33,532,367 Current Capital Contributions 3,184,635 (113,602) 0 0 3,071,033 Total Fund Equity $ 88.128,635 $ 5,882,95 $ 600,095 $ 2,628,727 1$ 97,240,442 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 Sharing Type of Coverage Occurrence Claims Adm Aggregate Carrier Property $ 100,000 Giesy,Greer&Gunn $ 77,167,340 Reliance 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 American Manufacturing Mutual Public Officials 25,000 Giesy,Greer&Gunn 2,000,000 Mount Airy Crime 10,000 Giesy,Greer&Gunn 1,000,000 Aetna Casualty&Surety 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 225,000 Johnston&Culberson 2,000,000 Frontier Employee Health 90,000 HMA,Inc N/A Safeco 37 City of Renton Notes to the Financia[Statements The City's risk management program is administered by the Human Resources and Risk Management Administrator,with claims being processed by the independent claims administrators noted on the previous page. As of December 31, 1995,the City had accrued the following amounts for outstanding claims. Table 38: Outstanding Claims Coverage Incurred/ Incurred But Not Total Claims .W Reported Reported Pavable Property&Liability $ 0 $ 959,288 $ 959,288 Worker's Compensation 0 94,277 94,277 , —Employee Health 0 90,485 90,485 Total $ 0 $ 1,144,050 $ 1,144,050 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. Interfund premiums are assessed on the basis of claims history,number of employees,and value of assets. Table 39 below presents changes in claims liabilities for 1994 and 1995. Table 39: Changes in Claims Liabilities ' Property and Liability Worker's Compensation Employee Health Totals Item 1995 1994 1995 1994 1995 1994 1995 1994 Claims Liabilities at Beginning of Year $ 1,078,197 $ 1,100,803 $ 84,129 $ 25,396 $ 137,233 $ 132,927 $1,299,559 $1,259,126 Claims Expenses: , Current Year and Changes in Estimates 477,436 274,414 379,445 303,845 2,163,551 2,422,805 3,020,432 3,001,064 Claims Payments (596,435) (297,020) (369,297) (245,112) (2,210,299) (2,418,499) (3,175,941) (2,960,631) Iaims Liabilities at End of Year $ 959,288T$ 1,078,1971 $ 94,2771 $ 84,1291 $ 90,4851 $ 137,2331 $ 1,144,0501 $1,299,559 38 ' City of Renton 1995 CAFR .r 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. rr MW r rr r w �r 39 City of Renton 1995 CAFR ' GENERAL FUND Page 1 of 1 ' COMPARATIVE BALANCE SHEE1 AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 1995 1994 ' ASSETS: Cash and Cash Equivalents ........................ S 3,627,023 $ 3,140,495 ' Receivables: Taxes ........................................ 506,340 369,113 Accounts ....................................... 2,401,777 2,239,781 Due From Other Funds ............................. 82,328 75,211 ' Due From Other Governmental Units ................ 45,439 47,249 Prepaid Items - .................................. 13,000 13,000 Interfund Loans/Advances - Non-Current ........... 79,000 54,000 $ i.754,9d7.:`::::;. '.<:::> �93$, ' LIABILITIES AND FUND EQUITY. LIABILITIES: Vouchers/Contracts Payable ..................... $ 283,904 $ 379,578 Due To Other Funds ................. 193,917 143,144 ' Due To Other Governmental Units ................ 1,006,473 951,316 Accrued Taxes Payable .......................... 781 1,294 Deposits Payable ............................... 83,067 83,027 Deferred Revenues .............................. 1,848,205 1,628,493 Accrued Employee Leave Benefits .. < 141,005 137,010 TOTAL IAB:( F :E tT:i:c. >:; >. : 5 .................. .............::: .iii. ...hA;LA:K; .a:K,A; :w:::. _% �.1 .� G FUND EQUITY: ' Fund Balance: Reserved For Advances/Prepaids/Contingency ... $ 212,000 S 67,000 Unreserved - Designated: For Inmate Health & Welfare ................ 17,628 23,466 ' For Investigative Fund Confiscations ....... 580,740 476,586 Unreserved - Undesignated .................... 2,387,187 2,047,935 >733A'< {� : .A�♦ K �.� % .{i%��iY ♦1K4 KA♦J%� `Y.::::r7j�J7,5S.5' �. 2,614,987': �. TOTJti. LIA6IEITTIr&:AND 1UND EQUITY .. < .: 5::<i't5754,907 : 5,938,849 r • aw 40 40 City of Renton 1995 CAFR GENERAL FUND Page 1 of 1 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 1995 1994 REVENUES Taxes ............................................ $ 21,425,193 $ 19,495,338 Licenses And Permits ............................... 1,213,272 1,270,844 Intergovernmental Revenues ......................... 2,977,429 3,640,553 Charges For Services ............................... 3,026,874 3,051,030 Fines And Forfeits ................................. 981,981 1,090,523 Interest ..................................... 540,997 479,252 Miscellaneous Revenues .............. 5,294 188,533 T4iAi REVENl3[$ , x ,> > : .. <.:::.::75::::<:::; EXPENDITURES Current: General Government ............................. $ 6,283,336 $ 6,132,433 Security Of Persons And Property ................. 17,187,719 17,272,774 Physical Environment ............................. 1,520,374 1,585,936 Economic Environment ............................. 2,938,751 2,871,248 Mental And Physical Health ....................... 7,843 10,755 Capital Outlay ..................................... 130,655 281,572 Debt Service: Principal Retirement ............................. 43,802 43,802 Interest & Fiscal Charges ........................ 15,480 19,553 7O1'AL;.S 3tPEND 1:.T.URE& ... : : 2& ': ZS,Z.14073 <: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................. $ 2,193,080 $ 998,000 OTHER FINANCING SOURCES (USES) Operating Transfers In ........................... $ 16,333 $ 10,000 Operating Transfers (Out) .......................... (1,645,860) (960,063) Other Financing (Uses) ............................. 0 300,000 Sale Of General Fixed Assets ....................... 29,497 26,180 3(3TAL,RFHER :INRNCiNGSt?EIRG Si. (13SfS3 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES .............. $ 593,050 $ 374,117 FUND BALANCE JANUARY 1 ............................... 2,614,987 2,240,870 Residual Equity Transfers Out ...................... (10,482) 0 l)NO BAtANCE:.D.:ECIMB€R. 1 IYr r 41 City of Renton 1995 CAFR GENERAL FUND Page 1 of 1 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 w VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 21,650,871 $ 21,425,193 $ (225,678) $ 19,495,338 Licenses And Permits ............................... 1,111,850 1,213,272 101,422 1,270,844 Intergovernmental Revenues ......................... 2,882,117 2,977,429 95,312 3,640,553 Charges For Services ............................... 3,017,595 3,026,874 9,279 3,051,030 Fines And Forfeits ................................. 730,900 981,981 251,081 1,090,523 Interest ........................................... 410,000 540,997 130,997 479,252 Miscellaneous Revenues .......................... 127,234 155,194 27,960 188,533 $:... 9 93Q:56.73f ' 2©.'::.:.Q......................3......3..............:.:.::.2.:.,.2:.::�::: .;:< a 73 ::................... •..................F........f....................................f.................. EXPENDITURES Current: General Government ............................ $ 6,582,833 $ 6,283,336 $ 299,497 $ 6,132,433 ' Security Of Persons And Property ................. 18,163,709 17,187,719 975,990 17,272,774 Physical Environment ............................. 1,619,485 1,520,374 99,111 1,585,936 Economic Environment ............................. 3,176,530 2,938,751 237,779 2,871,248 Mental And Physical Health ....................... 9,996 7,843 2,153 10,755 Capital Outlay ..................................... 179,722 130,655 49,067 281,572 Debt Service: Principal Retirement ............................. 49,603 43,802 5,801 43,802 Interest & Fiscal Charges ........................ 15,472 15,480 (8) 19,553 3'QFAt.>:XPENDF:TtlRES .R J1�.�:.:.4'i'Y.'I F. I4:'AI a♦ X .":' :::... .... .I.................. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 133,217 $ 2,192,980 $ 2,059,763 $ 998,000 OTHER FINANCING SOURCES (USES) Operating Transfers In ............................. $ 16,333 $ 16,333 $ 0 $ 10,000 Operating Transfers (Out) .......................... (1,636,560) (1,645,860) (9,300) (960,063) Other Financing Sources ............................ 0 0 0 300,000 Sale Of General Fixed Assets ....................... 0 29,497 29,497 26,180 f1TRi::;OTHER FINAfEC A SOURCES (Aj5E.S7:;>:::..:.:::;..:.:..;;<. EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (1,487,010) $ 592,950 $ 2,079,960 $ 374,117 FUND BALANCE JANUARY 1 ............................... 2,798,407 2,614,987 (183,420) 2,240,870 Residual Equity Transfers (Out) .................... 0 (10,482) (10,482) 0 -.... . : : <:>::::>2.:::64. 98Z::> Fl3�ED:<BALAH��;:OECE:M.B.ER 31: ::.: . ':...:.x .:.:....,..:...:Y•..:...::.:.:...::.:.:;:;�:..:.:�,31'#.,397...:::.;x 3,�4�,4�5 :::..:�...._..�.... , .._. _._... ........�....._... �r w 42 • City of Renton 1995 CAFR err SPECIAL REVENUE FUND 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 r 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 r. 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 1/2 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.37.0I0 to account for maintenance and improvement of the City's street and traffic control systems. Major sources of support are general tax nr revenues and the State levied tax on motor vehicle fuels distributed to 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 ■r 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 and trails. 1/2 of 1%of the State levied motor vehicle fuel tax distributed to Renton,is allocated to this fund each year. +r 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. rr ■r 43 City of Renton 1995 CAFR _ rrr SPECIAL REVENUE FUNDS Page 1 of 2 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 PARK ARTERIAL STREET COMM DEVELOP STREET BLOCK GRANTS ASSETS: Cash and Cash Equivalents ........................ $ 447,311 $ 70,317 $ 703,215 $ 2,526 Investments ...................................... 125,000 100,000 1,516,422 0 Receivables: Accounts ....................................... 1,593 0 67,284 0 Interest on Investments ........................ 922 652 28,552 0 Due From Other Funds ............................. 720 0 53,264 28 Due From Other Governmental Units ................ 0 0 0 103,339 .::.::: .:.. ... TflTAE:ASSE15: ::.:.:..:::.:.;;;;;..... LIABILITIES AND FUND EQUITY. LIABILITIES: Vouchers/Contracts Payable ..................... $ 159,098 $ 0 $ 50,602 $ 10,893 Retainage Payable .............................. 645 0 0 0 Due To Other Funds ............................. 0 0 8,493 20,000 Accrued Taxes Payable .......................... 1,998 0 16 0 Deposits Payable ............................... 16,715 0 0 0 Accrued Employee Leave Benefits ................ 31,993 0 30,232 0 Interfund Loans/Advances - Non-Current ......... 0 0..... 0 75,000 TOTAk.L A83:11T1:£5:;:::: :: ..«:3 x:a ::::.:. ..............::..::: : ::.:::::::.:::::::::::::::::::::::::.:::::::::::::::::::::::::::::::::::.:: FUND EQUITY: Fund Balance: Unreserved - Undesignated .................... 365,097 170,969 2,279,394 0 T. L::hUHt!>:1 fiUI: !d:z:> ?f:a> i.:>s::::<. .. r:_ >: :_' >:<i :R;>::$x:':365 097 ':. X743:969 ... .. :..2 >::0: : ............................._..._...................._............._..._ ..........................................................r.................................._.......... $ ?5;546 7 70TJt...... 1lSI 1:3[L,�2:>1iEtJ:>::fWNIY:'EQi#......:.. :::t:.::.. .:.. $: 0,:969 r:.. :. .:•::...::.8 r� R 44 _ City of Renton 1995 CAFR Page 2 of 2 CABLE IMPACT LIBRARY PATHS ONE PERCENT COMMUNICATIONS MITIGATION & TRAILS FOR ART DEVELOPMENT 1995 1994 $ 492,659 $ 169,253 $ 3,484 $ 42,714 $ 121,599 $ 2,053,078 $ 1,689,964 7,037,227 100,000 0 0 75,000 8,953,649 7,941,199 0 0 0 0 0 68,877 14,248 222,450 866 0 0 524 253,966 194,265 (266) 0 0 0 600 54,346 55,785 0 0 0 0 0 103,339 132,104 716 <:•:::$::'.::::: 197:72 ::> >.:: ::!::. ,....3.:..:....:: :.;:; -1.::487;2.5'5>'.:`» >:;: $ 350,099 $ 10,859 $ 0 $ 0 $ 600 $ 582,151 $ 225,650 20,869 0 0 0 0 21,514 0 5,251 (266) 0 0 0 33,478 85,950 + 0 540 0 0 0 2,554 5,168 0 0 0 0 0 16,715 19,700 0 12,464 0 0 0 74,689 87,913 0 0 0 0 0 75,000 50,000 7,375,851 246,522 3,.484 42,714 197,123 10,681,154 9,553,184 n.85 . 37S ..........,..._.. r.... ,46 1 45 City of Renton 1995 CAFR SPECIAL REVENUE FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 PARK ARTERIAL STREET COMM DEVELOP STREET BLOCK GRANTS REVENUES Taxes .............................................. $ 5,023,575 $ 0 2,716,652 $ 0 r Licenses And Permits ............................... 0 0 22,774 0 Intergovernmental Revenues ......................... 12,428 324,028 697,261 328,352 Charges For Services ............................... 592,548 0 1,187,441 0 Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 35,136 22,160 113,914 0 Miscellaneous Revenues ............................. 430,779 0 60,728 0 x.«..:..:..:::.:.:.,.::.:.:.x.;;;;:;. 6':444. Tt3TA1:.;:.R£1(£t1UE1i::..:..•�•.«..:.:•�•.«..;.;x:....;.;�:.«..;.;x:..:..;•:�:.:...:.::..... .::::::::::..::.:::::::::•::::::.t::::.::i:.;:.::::::.::::::::.:::::.::.:: ;:.:::::•::.:.:::::::::i.:::::::c.................;...:............i.......... EXPENDITURES Current: General Government ............................... $ 1,524,288 $ 0 0 $ 0 Transportation ................................... 110,600 0 4,201,772 0 Economic Environment ............................. 432,459 0 0 234,812 Culture and Recreation ........................... 4,067,157 0 0 0 Capital Outlay ............. 75,489 0 71,950 93,540 TOTAl:.1 XPENDI1i1RS5:..:..::. ..:. :.$: .:6,2Q9,993 .;:;$ :;:;:;::;Q::;::.;:;::;::G.,. 73,722:: EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (115,527) $ 346,188 525,048 $ 0 OTHER FINANCING SOURCES (USES) , Interfund Loan Repayments .......................... $ 0 $ 0 200,000 $ 0 Operating Transfers In ............................. 4,000 0 0 0 Operating Transfers (Out) .......................... (8,500) (526,252) (200,000) 0 Sale Of General Fixed Assets ....................... 4,284 0 0 0 .. T(1TAG OTHER fl.:N.AH EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (115,743) $ (180,064) 525,048 $ 0 FUND BALANCE JANUARY 1 ............................... 480,840 351,033 1,754,346 0 M Residual Equity Transfers Out ...................... 0 0 0 f.:UNA BAtANeI lsr �lasR,: 17 65,497 ,:... ...,... , ::.... :. _, ..,,_.. i i i 46 , City of Renton 1995 CAFR Page 2 of 2 ONE CABLE IMPACT LIBRARY PATHS PERCENT COMMUNICATIONS MITIGATION & TRAILS FOR ART DEVELOPMENT 1995 1994 $ 1,272,557 $ 1,023,650 $ 0 $ 0 $ 0 $ 10,036,434 $ 8,712,660 0 0 0 0 0 22,774 39,726 0 0 3,751 0 0 1,365,820 1,358,123 0 11,489 0 0 0 1,791,478 1,685,861 0 16,572 0 0 0 16,572 17,256 362,871 13,335 0 2,094 14,115 563,625 424,454 0 2,677 0 0 0 494,184 500,321 $ 0 $ 0 $ 0 $ 0 $ 0 $ 1,524,288 $ 1,438,127 635,250 0 0 0 0 4,947,622 4,423,529 0 0 0 0 0 667,271 681,278 0 1,055,410 0 0 8,154 5,130,721 4,952,547 122,951 0 0 0 0 363,930 265,709 4 $ 12,iS33,832 :::>:.�>:.'1t'"76E 190 $ 877,227 $ 12,313 $ 3,751 $ 2,094 $ 5,961 $ 1,657,055 $ 977,211 r $ 0 $ 0 $ 0 $ 0 $ 0 $ 200,000 $ 200,000 0 0 0 0 0 4,000 232,688 (526) 0 (2,091) 0 0 (737,369) (146,403) 0 0 0 0 0 4,284 667 $ 876,701 $ 12,313 $ 1,660 $ 2,094 $ 5,961 $ 1,127,970 $ 1,264,163 #0 6,499,150 234,209 1,824 40,620 191,162 9,553,184 8,309,671 0 0 0 0 0 0 (20,650) ..................................:...:.:>:;;:.;::.�.;:>::>:.;:..., :;;x.. ::::::::;;;:..14.?..1.25:.;1: :. >:.::.'::':�::::: ::>::>:::::.:<: ...;,;, aw aw Or 47 City of Renton 1995 CAFR SPECIAL REVENUE FUNDS Page 1 of 7 r COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 ■r VARIANCE 1w FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL M REVENUES Taxes .............................................. 5,365,900 $ 5,023,575 $ (342,325) $ 4,810,399 Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 30,000 12,428 (17,572) 31,711 Charges For Services ............................... 533,650 592,548 58,898 605,264 Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 20,000 35,136 15,136 31,285 Miscellaneous Revenues ............................. 484,480 430,779 (53,701) 490,771 L::•::{�>:::::::a;:::>:::>:•:>:;:t::•.:::•...I::::::r.::.::::c>;>::a_;:a::¢:.:4..:::::.� EXPENDITURES Current: General Government ............................... 1,651,994 $ 1,524,288 $ 127,706 $ 1,438,127 Transportation ................................... 124,609 110,600 14,009 121,604 Economic Environment ............................. 514,306 432,459 81,847 500,083 Culture and Recreation ........................... 4,250,417 4,067,157 183,260 3,909,206 Capital Outlay ......... 70,206 75,489 (5,283) < :; 62,992 ....::$ ...:. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... (177,502) $ (115,527) $ 61,975 $ (62,582) OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... 0 $ 0 $ 0 $ 0 Operating Transfers In ............................. 4,000 4,000 0 0 , Operating Transfers (out) .......................... (8,500) (8,500) 0 (92,000) Sale Of General Fixed Assets0 4,284 4,284 0 ....................... :TOTAf 3f:HER.F(HAH.C::ING S.OIIR.CES. JO.. E .,:......:..a...........;..,...::::.::..:.....:..t4.S.aO).....$::.:....,::..t216�.::::: .. ... .. EXCESS (DEFICIENCY) OF REVENUES t AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ (182,002) $ (115,743) $ 66,259 $ (154,582) FUND BALANCE JANUARY 1 ............................... 524,675 480,840 (43,835) 635,422 , Residual Equity Transfers (Out) ... .. ..... 0 0 0 0 ......: 342 FUND BALANCE DECEMBER 31.:. .:r......:......:. ,673 $:: 365,097..: ..... ....... ,._........ c. .r r i 48 City of Renton 1995 CAFR r Page 2 of 7 kv VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL 0 $ 0 $ 0 $ 0 2,599,100 $ 2,716,652 $ 117,552 $ 2,682,331 0 0 0 0 18,000 22,774 4,774 39,726 322,300 324,028 1,728 316,201 697,289 697,261 (28) 686,803 0 0 0 0 1,136,155 1,187,441 51,286 1,068,491 �. 0 0 0 0 0 0 0 0 5,000 22,160 17,160 8,446 25,000 113,914 88,914 61,867 0 0 0 0 0 60,728 60,728 7,100 7..: .. ............�2..:.�Q.......::...........�.b ........'[ .888::;::::;>:::�:::::;;; . .::.. .......................................:.. :.:.�...x.::•:.:::::::::::•::.�.::�:.�::::E:•:::::::::::::::..::..:;�.::::.s::::: 48.77E#. .:::::T�:::.:::.3�3:: 86;:;::•;:: :.:. ..: .:... :..: ka 0 $ 0 $ 0 $ 0 0 $ 0 $ 0 $ 0 0 0 0 0 4,525,233 4,201,772 323,461 3,876,780 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 86,816 71,950 14,866 52,949 _ :....:::>:>;�;,.b��;.X45?::.;::.;:..�.;:,:�:.:�T'•�:� 2:;;:z;:::::5::::;:::_i383�;7: ::�:::3:924:725'a: 327,300 $ 346,188 $ 18,888 $ 324,647 (136,505) $ 525,048 $ 661,553 $ 616,589 0 $ 0 $ 0 $ 0 200,000 $ 200,000 $ 0 $ 200,000 0 0 0 0 0 0 0 0 (585,500) (526,252) 59,248 (53,274) (200,000) (200,000) 0 0 0 0 0 0 0 0 0 667 (258,200) $ (180,064) $ 78,136 $ 271,373 (136,505) $ 525,048 $ 661,553 $ 817,256 r 351,033 351,033 0 79,660 1,711,983 1,754,346 42,363 937,090 0 0 0 0 0 0 0 0 1... ...............................?... ..36...............:. 3:.t33:;.;:.;:.;:.;;.;1:.: 75. :><:»>< :>: :: ?4:....94.:::::::.$.::::;::..?f)3:i9$ .................................... r w ow 49 City of Renton 1995 CAFR Im SPECIAL REVENUE FUNDS Page 3 of 7 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 OMMUkITf D.E.EE0PMEND 8i...GLC:.GR.N:.:.:.::,.:..........._...,........... VARIANCE • FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. 0 $ 0 $ 0 $ 0 Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 762,058 328,352 (433,706) 320,026 ChargesFor Services ............................... 0 0 0 0 Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 0 0 0 0 Miscellaneous Revenues 0 0 0 0 x:14:.>:>:>::::::•;::::.::>::::::. :::::. 3 :`:::':€1�[::«::<:: X33>7a6 : r:$;>:::::>:':.... Ox EXPENDITURES Current: General Government ............................... 0 $ 0 $ 0 $ 0 Transportation ................................... 0 0 0 0 Economic Environment ............................. 286,519 234,812 51,707 181,195 Culture and Recreation ........................... 0 0 0 0 Capital Outlay ..................................... 343,436 93,540 249,896 138,831 :>;:.:>:;,::;>::;.:. ..: 624:955::>:;:::::5::::>;:::>:::328 :352 $ 301,603 >:>:>:....3ZDr . TOT.....EXPEND:I TL1R s;> ......:,:,;.:�,:...:*.,,..... ,:,.,.:.. .__. . _ ......... .......... .. ... ....... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... 132,103 $ 0 $ (132,103) $ 0 OTHER FINANCING SOURCES (USES) , Interfund Loan Repayments .......................... 0 $ 0 $ 0 $ 0 Operating Transfers In ............................. 0 0 0 0 Operating Transfers (Out) .......................... 0 0 0 0 Sale Of General Fixed Assets0 0 0 0 ................ _ - : ..>;: ::; :;;:::.;:;:::;: < : .i i';<::>iiGia G:•ii:;%;i:: »3: T{IfA€::!}tHEINAN.C:.I.NG:.:S063R:CES tUSESs;.:>.....:...:..:..�,. t..::...:$..::....::.:..:. .:, EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ 132,103 $ 0 $ (132,103) $ 0 FUND BALANCE JANUARY 1 ............................... (132,132) 0 132,132 0 Residual Equity Transfers (Out) .................... 0 0 0 FUN.EI:;BALAt+[EE ©E.LEVE.B.E,It..3:'E. ....,:.......:.......,,.,:..,........_,:.:.. .: ...;...::. ... ..(.2Q;<............ ............ w i 50 City of Renton 1995 CAFR Page 4 of 7 Y.................. .. VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL 0 1,272,557 $ 1,272,557 322,216 1,027,500 1,023,650 � 0 0 0 0 0 0 (3,850) 897,714 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12,000 11,489 (511) 12,106 0 0 0 0 15,600 16,572 972 17,256 225,000 362,871 137,871 301,649 10,000 13,335 3,335 11,375 ....... ..... +�C �hQ �L 0 0 0 0 1,000 2,677 1,677 2,450 $ 6"w. :>$b$ 066 E 00..... 1: U67 723 . 1: ;::•::•;;::.;::.:•;;;;:•:;•::::.:..:.......................::::.:: s........a 623..:),, ;;:;:;:;:940::.01.>: � ......:::.: 0 0 $ 0 0 0 0 0 0 2,812,610 635,250 2,177,360 425,145 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,066,009 1,055,410 10,599 1,043,341 3,531,049 122,951 3,408,098 10,937 0 0 0 0 ::::>::>:6>3k3>'659'>::>::::::>::<::::::>::;. :c ..:»>. . ::<>:<.. :.. ::::::::..:.:. 58.a''€L�;::, $ "5.,5ff5.:.1�58: : 436 . .._..... . XSS; 1a;:::::.>:i:::>;:::::::::<:::::<t:Q':5S?9 (6,118,659) 877,227 $ 6,995,886 187,783 91 12,313 12,222 (102,440) 0 0 $ 0 0 0 0 0 0 ' 0 0 0 232,688 $ 0 0 0 (526) (526) 0 (1,129) 0 0 0 0 0 0 0 0 0 0 0 0 (6,119,185) 876,701 $ 6,995,886 419,342 91 12,313 12,222 (102,440) 6,344,185 6,499,150 154,965 6,079,808 243,021 234,209 (8,812) 336,649 0 0 0 0 0 0 0 0 1 51 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 :.........................::>:<>: ..`... RA:»::>:< < : :::.:::. ....... ?AI7HS:ANE3i 5....................... . VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. 0 $ 0 $ 0 $ 0 Licenses And Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 3,400 3,751 351 3,382 Charges For Services ............................... 0 0 0 0 ' Fines And Forfeits ................................. 0 0 0 0 Interest ........................................... 350 0 (350) 201 Miscellaneous Revenues 0 0 0 0 :10 14<:::: EV 3,75.t $ ;> 'sr75 : ::...... c:: :5:' EXPENDITURES Current: General Government ............................... 0 $ 0 $ 0 $ 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...E}tPE.N�:]Tl1RES:,,,:....:...:.... .,,.. . .. .. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... 3,750 $ 3,751 $ 1 $ 3,583 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... 0 $ 0 $ 0 $ 0 Operating Transfers In ............................. 0 0 0 0 Operating Transfers (Out) .......................... (2,091) (2,091) 0 0 Sale Of General Fixed Assets 0 0 0 0 ....:.:.. ;:......::(T:.>:::::>::$ :::»>. <<::;:> EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ 1,659 $ 1,660 $ 1 $ 3,583 FUND BALANCE JANUARY 1 ............................... 1,824 1,824 0 18,891 ar Residual Equity Transfers (Out) 0 0 0 (20,650) ........... . ...:.:.......... LEND..;:BALANCq' r 52 City of Renton 1995 CAFR ow L Page 6 of 7 � R. OE>4T :::> ;�ABf:E::>�f1MMUH:�eAT:SEN(5:::#)�1t�LOFMEN:.T.:> ' ':'•:>:>�»::<>:::•::> VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 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 0 0 0 0 0 0 0 1,500 2,094 594 1,587 6,000 14,115 8,115 8,044 0 0 0 0 0 0 0 0 54?►..::::::�:.;:.;>:.;:.;;:>::�::587:.;;;:.;:;:.;:.:.;»::;: :.00 �;:........ ...:::•. :.�:::::..... .. ....: $ 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 8,500 8,154 346 0 42,033 0 42,033 0 0 0 0 0 :.;:.:;.:;:;,:.8,:157.��:::::::;>::::�;::>;:: $ (40,533) $ 2,094 $ 42,627 S 1,587 (2,500) $ 5,961 $ 8,461 $ 8,044 S 0 $ 0 $ 0 S 0 0 $ 0 $ 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 $ (40,533) $ 2,094 S 42,627 S 1,587 (2,500) S 5,961 $ 8,461 $ 8,044 40,620 40,620 0 39,033 181,469 191,162 9,693 183,118 0 0 0 0 0 0 0 0 ;'.:'>..i;ipi'?i• :1Gi:>. ::::: i=i ��:�;. �:.::>::>::» .:»:::::i:,: �::r' � :r:;Y4:.`�::i:;:;»::>:: .: :.� �. �.:..;.:; .. . _ .:::;:��::.�::... .:. . 53 City of Renton 1995 CAFR .r SPECIAL REVENUE FUNDS Page 7 of 7 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 +r VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL r REVENUES Taxes .............................................. $ 8,992,500 $ 10,036,434 $ 1,043,934 $ 8,712,660 Licenses And Permits ............................... 18,000 22,774 4,774 39,726 Intergovernmental Revenues ......................... 1,815,047 1,365,820 (449,227) 1,358,123 Charges For Services ............................... 1,681,805 1,791,478 109,673 1,685,861 Fines And Forfeits ................................. 15,600 16,572 972 17,256 Interest ........................................... 292,850 563,625 270,775 424,454 Miscellaneous Revenues .. . . . 485,480 494,184 8,704 500,321 ...... $0;1.:;: 401;::x: :.....c:..........::.. i28��;> >::>::5:::>::<7.4 •::.:::: TDTAL..it VENE3ES...... ....,:.,:..„....f:.:.:....:... .............................:::::.•.;•;<:.�:.t.;::.:::,..::..:..s:.......�...........................,e.......�................:.;:<:.;:�;:�;;:;:;;:;:.�.;:;;:�;>:;:�;:;:<.::;::;>:;.:::::::.............. ......:..............................................:.............................. EXPENDITURES Current: General Government ............................... $ 1,651,994 $ 1,524,288 $ 127,706 $ 1,438,127 Transportation ................................... 7,462,452 4,947,622 2,514,830 4,423,529 Economic Environment ............................. 800,825 667,271 133,554 681,278 Culture and Recreation ........................... 5,324,926 5,130,721 194,205 4,952,547 Capital Outlay ..................................... 4,073,540 363,930 3,709,610 265,709 TOTAL £XE�EN :TTURBS:;: ....... •,;, ......:: ....<... $. 7:9,373: ...-5: »:$: :1 ,633 83 fs..6T9435:'. :>:>$:::.13.;T67,190:< EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (6,012,455) $ 1,657,055 $ 7,669,510 $ 977,211 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... $ 200,000 $ 200,000 $ 0 $ 200,000 Operating Transfers In ............................. 4,000 4,000 0 232,688 Operating Transfers (Out) .......................... (796,617) (737,369) 59,248 (146,403) Sale Of General Fixed Assets0 4,284 4,284 667 ....................... :..::...:•.: .;..:..:.,,. ;:<>::r:::: 7 ::...: ;::.... 529.. 085 2 TOTAL:f)THER::.fIt�ANC1:HG.:.SWkGES f:U��1S�.:.:..... . ..,..,...:.., :.: .$.::..::.(592,.6..3: >,. .......:.. f ..., ........ ....... EXCESS (DEFICIENCY) OF REVENUES r AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (6,605,072) $ 1,127,970 $ 7,733,042 $ 1,264,163 FUND BALANCE JANUARY 1 ............................... 9,266,678 9,553,184 286,506 8,309,671 Residual Equity Transfers (Out) .................... 0 0 0 (20,650) �s53..:1 .::> r �r r 54 �r City of Renton 1995 CAFR +� 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. 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'Center. r 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. 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. w 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. +rr r .� 55 City of Renton 1995 CAFR DEBT SERVICE FUNDS Page 1 of 2 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 1989 LIMITED 1983 UNLIMITED 1978 LIMITED GO REFUNDING GO REFUNDING GO BONDS BONDS BONDS ASSETS: Cash and Cash Equivalents ........................ $ 65,266 $ 60,918 $ 508,321 Cash With Fiscal Agent ........................... 550 0 64,694 r Investments ...................................... 0 0 0 Receivables: Taxes .......................................... 0 0 31,259 , Special Assessments - Current .................. 0 0 0 Special Assessments - Delinquent ............... 0 0 0 Special Assessments - Deferred ................. 0 0 0 Interest - Special Assessments ................. 0 0 0 ' Intereston Investments ........................ 0 0 0 Due From Other Funds 0 8 4,386 SETS...: 55,:616 LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers/Contracts Payable ..................... $ 0 $ 0 $ 0 Matured Bonds Payable .......................... 0 0 0 Matured Interest Payable ....................... 550 0 64,694 ' Deferred Revenues .............................. 0 0 31,259 :::: ::::.......:.. 'i�iM:4�iAAF' ')1'4'�.�.«.Y.X.4...�.«..«.«RA.«'i:�iA.«:«'� .. ..:: :::::::::::::: :.:....:..:::.._.....::..:.:.................................. ....... ..:::......::.:::::......::i5S0::::.:;::.......:............. :::..a};::.;:.;::$;;;::»:::>:::: :4:45 FUND EQUITY: , Fund Balance: Reserved For Debt Service .................... $ 65,266 $ 60,926 $ 512,707 tr fl O AL..EUNIY..;a llh1Y.. ............ ::;;;; ...................._._._......._...-.,.«, :;:;: ._;;..:........;.:.....:.:<.::: :;::»:.::::::.65;2b6''::::.::$.::::::>:.::6Q 92 6i TOTAL.:L..LABIi3:.:,.IES A:.:D.:fUNQ.: �1U11Y. .:.:., v«..........:•. . ,.:«a:<:::$< :' ltE#,926...:>::: ::::>::>:>:::::: L5U8,.6b©'r r 56 City of Renton 1995 CAFR Page 2 of 2 GENERAL GOVERNMENT SPECIAL SPECIAL MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT DEBT GO BONDS DEBT GUARANTY 1995 1994 $ 198,790 $ 386,332 $ 267,428 $ 71,481 $ 1,558,536 $ 1,577,106 0 0 30,000 0 95,244 98,644 0 0 1,048,477 625,000 1,673,477 1,810,117 0 21,560 0 0 52,819 41,450 0 0 456 0 456 456 r' 0 0 284,747 0 284,747 168,269 0 0 3,927,079 0 3,927,079 4,582,171 0 0 184,707 0 184,707 55,377 0 0 38,704 25,822 64,526 61,944 1,399 2,822......... ............. .... 0.... . 0..... 8,615....... . . 4,422 >:::::::20€i:::.:•:. ::::::>:>::> TE4::;;:::>::;: :::>:>«:::: ::: _ ...... �•:::�:>8399;456>°> $ 8,000 $ 0 $ 0 $ 0 $ 8,000 $ 706 0 0 30,000 0 30,000 20,000 0 0 0 0 65,244 78,644 0 21,560 3,927,079 0 3,979,898 4,623,621 _. .......................F.................._........:::::::2�...T.�dSI::.::.�:::.:::.:�.,'95�',�t9.:::;:-;:.'$;:.:.:.:.:.:;:.;;:..;:<.::.:.::.;:.;.9::;;;.;�.;;::::;:.«4,.R83::1�42.;;:.:.:;;:�;;:.;:<.:Ti:<t�22••<5?�:'.'�;;:: $ 192,189 $ 389,154 $ 1,824,519 $ 722,303 $ 3,767,064 $ 3,676 985 ;:.;:.;. .:::_ : :;:.;:.:.;: 184........5...............384 354........5...........1. 824>:.::..::»:::<::<:: :<:>::;::;:«::<:::;::: :.;:.:>::>::::::: >::. ;:::. ...:;:<:::::;:: >:::<:::a :<:.. »: ::...... ...........:......... ................................................................................5 .7fr7.:06►:.>:.;:.;:.;5.:.::;.;:. ,:d'6.;: 5;>:: _....:......:......:...:x.89.::..:::: ._,.:::...........t4?. ..4........ ........... .fi81..598...:....5...._.......... :::::<:: ><::»::>::;::.; ................................_..... ....::..:::...:::.:::::::::.:�'22.t3Q3:.:::: 7:, W<206.;>::;::;>;::;>::. :�:>... 69 :5 ;:<;.;:: a 4 S 3 57 City of Renton 1995 CAFR DEBT SERVICE FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, i994 1989 LIMITED 1983 UNLIMITED 1978 LIMITED GO REFUNDING GO REFUNDING GO BONDS BONDS BONDS REVENUES Taxes .............................................. $ 73,900 $ 290,000 $ 760,782 ' SpecialAssessments ................................ 0 0 0 Interest .......................................... 1,213 885 23,635 EXPENDITURES Debt Service: Principal Retirement ............................. $ 0,0 $ $ 6 00 170,000 , Interest & Fiscal Charges ........................ 13,305 120,498 205,549 TOTAI. EXPENAiTEjRt:S . o EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 1,808 $ 387 $ 33,868 , OTHER FINANCING SOURCES (USES) Operating Transfers In ............................. $ 0 $ 0 $ 0 Operating Transfers (Out) .......................... 0 0 0 TO AL OTHER F; NA90NG , 0URG.ES°iilSlS) >;..:::::.::,.»:: .::.:.<•:>;:::>:; .. : » t1::;;;;:;$::;.::.;::::>:::..::;::::.. U ::.;:5<;:;:::•;;:::>::>:::>::;;;::.;;:>:...... EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER , EXPENDITURES AND OTHER FINANCING USES ................ $ 1,808 $ 387 $ 33,868 FUND BALANCE JANUARY 1 ............................... 63,458 60,539 478,839 ' Residual Equity Transfers In ....................... 0 0 0 Residual Equity Transfers Out 0 0 0 .. 60 926 i;UND BALANCE DECE�9BER 31 �-:.�.:>. i i 58 ' City of Renton 1995 CAFR low Page 2 of 2 rr GENERAL GOVERNMENT SPECIAL SPECIAL :'s< flIAS MISCELLANEOUS 1989 UNLIMITED ASSESSMENT ASSESSMENT DEBT GO BONDS DEBT GUARANTY 1995 1994 ow S 894,319 $ 489,539 S 0 $ 0 $ 2,508,540 $ 2,577,985 0 0 908,724 0 908,724 1,029,437 5,633 8,007 342,194 36,592 418,159 213,814 r :.: :» :>::<:<::«:'::»��:. .............�.......1.. .Q..918........;�...........�. ... ............................. $ 715,397 $ 230,000 $ 450,000 $ 0 $ 2,170,397 S 2,940,351 V 234,101 269,598 274,563 0 1,117,614 1,285,972 $ (49,546) $ (2,052) $ 526,355 $ 36,592 $ 547,412 $ (405,087) $ 0 $ 0 $ 526 $ 0 $ 526 $ 1,129 (137,449) 0 (70,410) 0 (207,859) 0 ::3:7<:4 9 '>:::s::$<:>:>:: :::>:::::>:;:>::::>:0:'::....................69 884 ......$.....................0........$......... ZQ7:'333 :.. $ (186,995) $ (2,052) $ 456,471 $ 36,592 $ 340,079 $ (403,958) 379,184 391,206 1,368,048 935,711 3,676,985 4,080,943 m 0 0 0 0 0 256,599 0 0 0 (250,000) (250,000) (256,599) r r r r r 59 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 A.. ENERAL VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. 73,900 $ 73,900 $ 0 $ 74,380 SpecialAssessments ................................ 0 0 0 0 Interest 500 1,213 713 987 TOTQL::;1tEyEilUE1a7. 4. :::: :>;;:,>;:;;:.::.;:.;>;;::.;:;::.;:::::: ;;.;;;:;::::.;:<.;;;:.;:::.;;:.:.:::•3.67 ' EXPENDITURES Debt Service: Principal Retirement ............................. 60,000 $ 60,000 $ 0 $ 60,000 Interest & Fiscal Charges ........................ 13,370 13,305 65 16,520 >;:::.>.:.'..>.:.::.>.: ................ : >;;;;;:;:;:;>,,. T3.37 ......> ........ .:..r.5..:.>.:.:.:.r<.:.:.:$...i...:i......>.€z.'r..::.>..7...6..'.5..2..fl...::.>.::. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... 1,030 $ 1,808 $ 778 $ (1,153) , OTHER FINANCING SOURCES (USES) Operating Transfers In .. 0 $ 0 $ 0 $ 0 Operating Transfers (Out) .. 0 0 0 0 TOTAL. OTHER FiNA..N. 11TG SOURCES Gl3SES) ...< 0E,$";:c:;>` :: EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER , EXPENDITURES AND OTHER FINANCING USES ................ 1,030 $ 1,808 $ 778 $ (1,153) FUND BALANCE JANUARY 1 ............................... 63,458 63,458 0 64,611 Residual Equity Transfers In ....................... 0 0 0 0 , Residual Equity Transfers (Out) .................... 0 0 0 0 E.UND:.BALAtJCE.:DEGEMBER.3E..: .,.�... ..,.......,:::::::....::.:::..ts?r,f►$8......$. _ ,26....:... .. .. .... 60 ' City of Renton 1995 CAFR r Page 2 of 6 ::>::.>:9 .`1: :::lr ::::..... B.F...F Mf f3.. 11N#1:MI1 E13>: EIE�tl11<:Q81A:IOlk1 ION::R1 111f13?.1 (Cs. t3 VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL � r 290,000 290,000 0 280,798 777,000 760,782 (16,218) $ 696,655 i 0 0 0 0 0 0 0 0 800 885 85 1,338 10,000 23,635 13,635 19,157 :.;. .. ; :«: ......E:'r 9(3>: ::::.. :::>:::< >:<::::><::'.>:'.>: <::::'.>?:>:::::::>:::... :: <<:'.::»::::>::::. Q 0. 784 417::: 2'.58 :.. .... ::. �..... ........._.....�' .18............................ �..:............... # X36..................7 .....Q. .... ..... _...... _.( 33.... ......................E................................a...............................................................E.................................t.................................r................................i...................................r........... .............................................................................................................................................................................................................................................................................. 170,000 170,000 0 155,000 545,000 545,000 0 $ 600,000 120,498 120,498 0 131,071 208,363 205,549 2,814 231,176 2... _tr. 5 . 363................... tl 544........... .. .2.814........E 831. .1. 5... 302 387 85 (3,935) 33,637 33,868 231 $ (115,364) 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 302 387 85 (3,935) 33,637 33,868 231 $ (115,364) 60,539 60,539 0 64,474 476,852 478,839 1,987 594,203 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ., ::: ......... ... . ''5 > ..0...89•>::>:::>>:>::;:»>:.. t ::>:.: :<:>>:>>::::<:>:'•>:'•:::<::<:>2><::: <::::>:::<:: :<::«:::>::t�:: <::... ;::>:' F3":l#.': «< ::>:::»:::.:..... ........,,:::..::.::::.:... :........:.....,.:::..:....: ......::..:...:.... ..::.... ...Q.:...........:.......:.. 2.8........ ...........78.8? ... ......................z............... ...... .... .. ... ... ......s.............:......... .... . ..... .....r................ ............i.......... ..�........ sw w Un 61 City of Renton 1995 CAFR DEBT SERVICE FUNDS Page 3 of 6 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 ....... ...... E ....... ...................— VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 895,600 $ 894,319 $ (1,281) $ 1,008,191 Special Assessments ................................ 0 0 0 0 Interest ........................................... 5,000 5,633 633 9,183 ........... .................. ........ ................... ............................... ................ wREV '9,9. 5.F ... .... TO'TW.� . . . ........ ........ EXPENDITURES Debt Service: Principal Retirement ............................. $ 715,399 $ 715,397 $ 2 $ 594,288 Interest & Fiscal Charges ........................ 235,099 234,101 998 272,123 :.; 1.:..:..-.,...:,..:....:...,....:...:.:.*.;.... 11 . 4 ........... :TOTAL:.: XPEND' '�4 1T.N.R.E.S. ................... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (49,898) $ (49,546) $ 352 $ 150,963 Operating Transfers In ............................. $ 0 $ 0 $ 0 $ 0 Operating Transfers (Out) .......................... (137,449) (137,449) 0 0 :TQTAU;OTHER::F: �>kOZ.d 4 . D... EXPENDITURES AND OTHER FINANCING USES ................ $ (187,347) $ (186,995) $ 352 150,963 FUND BALANCE JANUARY 1 ............................... 378,228 379,184 956 228,221 Residual Equity Transfers In ....................... 0 0 0 0 Residual Equity Transfers (Out) .................... 0 0 0 :FUND8ALARCE.;:DIECEMBER.::*3 X.- w: w ..... .............. 04., ....... . ....... 379"184 62 City of Renton 1995 CAFR Page 4 of 6 IN ........... 969:UNt 1M1 fEt?>::GS)ESR)t#:>OB£[11tT::0F1:'>Bf3ND:<:>::>`::::>" ::.ASSSSt1E .................... ... _.. .................._....._....._..................._....................................... ..................................#.:.................. VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL 500,000 489,539 (10,461) 517,961 0 0 $ 0 $ 0 0 0 0 0 650,482 908,724 258,242 1,029,437 5,000 8,007 3,007 7,009 418,150 342,194 (75,956) 139,574 «::<:>:>;:>:>:'. 0 :>Q00...:. 497 546' ......;:<:::::»::>:: 7:4 4:1):::::::......:524 470.::>:,:.::.::1. 8�.p>"L32y (1::::#I EB ;1 'y,> ><;•` { ...............r5....,5. ..............:: �: l.::::,:::::.:: :::.:::: ::.{::::::: ::...._.;.....�:::::::::t:::::::::::...............4?5+.Y.....................iF.,...............................4#F.: s.............. .....::..:..:...................:.:...........................:::..:::.:......................:.:::.::.:::1 .::...............:::::::::�.:::::►:::::::::::::::::::.:_:::.::::I.:::::::::::::::..::: .......................................... 230,000 230,000 0 205,000 546,000 450,000 $ 96,000 S 1,326,063 269,750 269,598 152 265,463 275,754 274,563 1,191 369,619 .......... ::: ......:>:::::<:::..: ;<:::» >::>::....... . .. 3 ..............$ 1.754...................724.563.........5........97.. .. 5,250 (2,052) (7,302) 54,507 246,878 526,355 $ 279,477 S (526,671) 0 0 0 0 526 526 S 0 S 1,129 0 0 0 0 (69,132) (70,410) (1,278) 0 5,250 (2,052) (7,302) 54,507 178,272 456,471 S 278,199 $ (525,542) 389,728 391,206 1,478 336,699 1,109,458 1,368,048 258,590 2,150,189 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (256,599) :.......!.. .:.:._:::::'.::»<::>:<::>:<::::: 9 >1 <:>::::>:'.:>:::::>::::>'>::::>::5s:82Q: >::::::>:<:: 34. 2ff 8 >::>:>::::»'>::s 4:>:':: :<:>:<:::::> ':::....:.. . >:::ss:«'': >::»:. .<:.. ',..:,.:,....4.,4 ......:..:.::...:.:..........f..........;< .......:......: :. 1.... .�:73i:. . �....8��::.. .�4::.::::� :'.55. �84. :: 'S. ::x...368,�8.::. r r w r 63 City of Renton 1995 CAFR DEBT SERVICE FUNDS Page 5 of 6 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 rr ................................................................................................................................. VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 $ 0 $ 0 $ 0 Special Assessments ................................ 0 0 0 0 Interest 21,500 36,592 15,092 36,566 .::::..: .:..::..: :4::<:'... f..5:0 $ 36 :r[.:$:[::::r<.::'.>:# 092: $. 3fti6G::> F:OTAL REVENUES .:-,,.:,..:'-: ., �;%:.tija`:�;iii>:ii::...:::::::..:.1::.::. F: :..::i::.::::.::::::.:::::...a....:::.. F... ..:: EXPENDITURES wo Debt Service: Principal Retirement ............................. $ 0 $ 0 $ 0 $ 0 Interest & Fiscal Charges0 0 0 0 ........................ _ _ .._._...:..... :::::::::..:::::.:._:::::..:::::::::::.:::: .....:_:.:,::::: qw -TOTAL:::: EXPE{II33<U#�ES>3=`2>> >: >?:a:> z>> .......................................................................................................................... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ..................................... $ 21,500 $ 36,592 $ 15,092 $ 36,566 Operating Transfers In ............................. $ 0 $ 0 $ 0 $ 0 Operating Transfers (Out) ................. 0 0 0 0 ........ NG HCI Nf4 : ;;:SOURGES ::USES ::_ .�:::..:�.;�::::.::.... .$>::: .. ..::0 $> :: ......:,.E)::.::•::$:;;;.�.•::;;•>: .. 0 ;>:�'?E�3>#<�»# 3>:�>::0:»: TO7".R.L,i3THER,.F.i.. .... - ---_ (.....�. ..... ._...... ......................... EXPENDITURES AND OTHER FINANCING USES ................. $ 21,500 $ 36,592 $ 15,092 $ 36,566 FUND BALANCE JANUARY 1 ............................... 908,255 935,711 27,456 642,546 Residual Equity Transfers In ....................... 0 0 0 256,599 Residual Equity Transfers (Out) .................... (250,000) (250,000) 0 0 ......... .. .... .... 2.:: : .g: :::: fUNa.. BALANCE DE.GEMBER ;:...,...:.... ...:... *: _.. r r aw r 64 r City of Renton 1995 CAFR Page 6 of 6 ............................................................................ ...................................................... VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL 2,536,500 $ 2,508,540 $ (27,960) $ 2,577,985 650,482 908,724 258,242 1,029,437 460,950 418,159 (42,791) 213,814 3a 54 !,?3 '; i >$ 3,835,423 $ 87E,49 ::: :. 3 �� :'► : r 2,266,399 $ 2,170,397 $ 96,002 $ 2,940,351 1,122,834 1,117,614 5,220 1,285,972 323'.'.: 258,699 S 547,412 $ 288,713 $ (405,087) 526 $ 526 $ 0 $ 1,129 (206,581) (207,859) (1,278) 0 <:. 20'�':>:333 52,644 $ 340,079 $ 287,435 $ (403,958) r 3,386,518 3,676,985 290,467 4,080,943 0 0 0 256,599 (250,000) (250,000) 0 (256,599) bm L 65 City of Renton 1995 CAFR �r ti Y 0 1 0 66 City of Renton 1995 CAFR r ,o, CAPITAL PROJECT FUNDS Capital Project Funds account for the acquisition or development of major capital facilities,except those projects financed by proprietary funds. Sources of revenue to these funds include general obligation bond +s proceeds,federal and state grants,general property taxes,interest earnings,and transfers from other funds. 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 included general and special revenue taxes and Council approved general obligation bonds. GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND - 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. r ' 67 City of Renton 1995 CAFR . CAPITAL PROJECT FUNDS Page 1 of 2 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 OPEN SPACE MUNICIPAL SENIOR CAPITAL FACILITIES CAPITAL HOUSING IMPROVEMENT CONSTRUCTION IMPROVEMENT CONSTRUCTION ASSETS: ' Cash and Cash Equivalents ........................ $ 445,021 472,028 1,083,414 15,239 Investments ..................................... 705,313 1,408,923 3,411,281 0 Receivables: Accounts ....................................... 0 0 44,003 0 Interest on Investments ........................ 13,678 52,804 184,476 0 Due From Other Funds ............................. 0 1,399 0 0 Due From Other Governmental Units ................ 0 0 2,034,354 0 . ..................... ............... LIABILITIES .AND FUND EQUITY. LIABILITIES: Vouchers/Contracts Payable ..................... $ 34,020 19,528 25,080 0 Retainage Payable .............................. 17,796 4,931 44,175 0 ' Due To Other Funds ............................. 0 0 54,470 0 Accrued Taxes Payable .......................... 0 1,958 0 0 Deferred Revenues .............................. 150,435 0 0 0 Accrued Employee leave Benefits ................ 2,537 0 0 0 :... >::>:73'725::::>:.........................:::......:.....:......:...... y. ...y .* .. k..t.:.a..r.:....a.:.....a.:. ..a...•r..t.a.t....:............ ......... l. ::::% ::n4f'`':F: ; :.:i':::%#::::..... .. ............ ........... .......:::::::..::::.:.:::.::.:::..:.:.:...:................................................... FUND EQUITY Fund Balance: , Reserved For Arbitrage Rebate ................ $ 0 0 50,475 0 Unreserved - Undesignated .................... 959,224 1,908,737 6,583,328 15,239 yl_1U AL.;.}7;: {tY:;.,T,••,}rlR ;.;.t;.y�.i;i<;i.�;i......i:��:F.i;a<;r.i;.;.;i..;4.;i;.«.,..i.v.:::: .957., 2 . a........r............................ .........................................n.......... TQ;AI.::l'1J1&I7`!€IikS..AND PUNt E�dlltl Y. .«,......«:,.. «,. : 1,.164,1112....: ,9 5...,. 1,.75:.,.5.$:....,..................► ......: 68 City of Renton 1995 CAFR Page 2 of 2 1995 1994 $ 2,015,702 $ 685,103 5,525,517 4,699,193 44,003 0 250,958 168,464 1,399 664 2,034,354 3,213,677 $ 78,628 $ 338,945 66,902 15,966 54,470 43,794 i 1,958 0 150,435 150,435 2,537 0 i S 50,475 $ 291,645 i 9,466,528 7,926,316 -57 i i i i i 69 City of Renton 1995 CAFR CAPITAL PROJECT FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 OPEN SPACE MUNICIPAL ' CAPITAL FACILITIES CAPITAL IMPROVEMENT CONSTRUCTION IMPROVEMENT REVENUES Taxes .............................................. $ 0 $ 348,384 $ 0 Licenses And Permits ............................... 0 0 1,536,531 Intergovernmental Revenues ......................... 3,108,992 0 3,761,386 Charges For Services ............................... 583 0 3,805 Interest ........................................... 41,212 109,550 50,349 Miscellaneous Revenues ............................. 800 25,076 10,000 ''ff '1 Y" U ii:'sa:�iY54:1:K T:OrAV R ..EE.. s •:..:.•.....:..............................................................................:....::....:::......:::,.::::::::::::::::::::::::.:::.:..:•::::::.:::::::..:.::.:::..::...::,..:..::.:., EXPENDITURES Current: Security Of Persons And Property ................. $ 0 $ 5,500 $ 0 Transportation ................................... 0 0 4,512,876 , Capital Outlay ..................................... 2,916,279 1,794,240 0 Debt Service: Interest & Fiscal Charges ........................ 11,289 0 0 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ 224,019 $ (1,316,730) $ 849,195 OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... S (200,000) $ 0 $ 0 Operating Transfers In ............................. 148,300 1,253,389 526,252 Operating Transfers (Out) .......................... 0 (148,300) (16,333) , OtherFinancing Sources ............................ 0 0 0 IntergovernmentaLAgreements ........................... 0 0 0 _ . : 5;: :;:z;<:::::<;:;::::::c:;::;:_; >.y::;>:§<:<><..:7`'::>::<::< 91' 0 70TAL.:.O A ..F..I:NANCIIEL>.:5L1U.RC.£.5...€.U.S.£...?:.. ... +. ..._.....r.r.. ... ... .... .(.. ,. ... ?.... ........ ...... ....... ..... EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ 172,319 $ (211,641) $ 1,359,114 FUND BALANCE JANUARY 1 ............................... 786,905 1,870,378 5,274,689 , Residual Equity Transfers In0 250,000 0 >:zz: FUND $AE:At�C£..;,DECEMBER.;::31,, : = ?;:.t $. . .`.95?� 1 70 City of Renton 1995 CAFR Page 2 of 2 SENIORilL <> >><>? HOUSING CONSTRUCTION 1995 1994 $ 0 $ 348,384 $ 485,218 0 1,536,531 1,540,689 0 6,870,378 6,923,813 0 4,388 2,619 8,068 209,179 74,932 0 35,876 60,010 73 ....................... $ 0 $ 5,500 $ 0 0 4,512,876 5,425,222 15,065 4,725,584 4,646,421 240,253 251,542 0 5 '3 &::>>» ;:z9":499'':541 r............... .......i...........,.4.................r........r..4 ... $ (247,250) $ (490,766) $ (984,362) r $ 0 $ (200,000) $ (504,007) 0 1,927,941 527,689 0 (164,633) (232,687) tr 0 0 193,250 (23,500) (23,500) 0 ar $ (270,750) $ 1,049,042 $ (1,000,117) 285,989 8,217,961 9,197,428 0 250,000 20,650 :>:<Si;: :>:::<:><1:. ::: :;;::><:?<::�:`:>+i':5i7':Q03:<;:>�:>::`•: 8<� a:7 9"9<:':> r r „� 71 City of Renton 1995 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, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 :.:::::::.... VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 $ 0 $ 0 $ 0 LicensesAnd Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 4,305,556 3,108,992 (1,196,564) 3,545,840 Charges For Services ............................... 0 583 583 0 Interest ........................................... 0 41,212 41,212 24,221 Miscellaneous Revenues800 800 0 0 ............................. T ..FSI .E 06;..'6::::>:::<:>: ::>::: ;':1:5:7:::<, ...............................:::�.i:K:!:.:.:K.l:.:<:x:!.!. !:...:....:...1............:..:.:�Q;x:4.�w;x:!;�n;x..:::::.:::.::.�.:1....... ...................... .r.. .... EXPENDITURES Current: Security Of Persons And Property ................. $ 0 $ 0 $ 0 $ 0 Transportation ................................... 0 0 0 0 Capital Outlay ..................................... 4,452,754 2,916,279 1,536,475 3,120,901 Debt Service: Interest & Fiscal Charges 0 11,289 (11,289) 0 TOTA.. XP...... EXCESS (DEFICIENCY) OF REVENUES ' OVER EXPENDITURES .................................... $ (146,398) $ 224,019 $ 370,417 $ 449,160 OTHER FINANCING SOURCES (USES) ' Interfund Loan Repayments .......................... $ (210,418) $ (200,000) $ 10,418 $ (504,007) Operating Transfers In ............................. 148,300 148,300 0 0 Operating Transfers (Out) .......................... 0 0 0 0 ' Intergovernmental Agreements ........................... 0 0 0 0 Sale Of General Fixed Assets0 0 0 0 ....................... TOTAI OTH£it:<F NANCING::SOURC SUS >::::::.;>.:>:::::<;;.. ;::::<:;.;::::; :f>: l 5).x...............�......;�.......:�..: : 504;flOfi):; EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (208,516) $ 172,319 $ 380,835 $ (54,847) FUND BALANCE JANUARY 1 ............................... 208,516 786,905 578,389 841,752 Residual Equity Transfers In ....................... 0 0 0 0 FUND::BALAKE:: ECEMBER:>'31<" ...........: s ... -_.,.D._.... .......... >....•.:K:.• ....:... :.... ..,.:...:. D . ..::. . ..9.5.9,2G:::>:;:>' ':> ':959,�'2dw;:>:::<:::$ :: :9: .r 72 s City of Renton 1995 CAFR aw .. Page 2 of 4 >:<a�R1tI:G3fA :<1tA03`:1?1l S:>C S:: ::»:<:::: ::z:>: ;:::.:>:: L. L .. ... ODi..1'RUGT TO)k. ::::::.::::::::::::. ....................,........:.::::::.:::::.::::.:.: ...........:I4.:..[t�PRC)VEM��1 fS::::::::::z<:><: :>::z>;>::>::::>: :;>:<:»»>::>:::z:: VARIANCE VARIANCE FAVORABLE 1994 FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL $ 350,000 348,384 (1,616) $ 485,218 0 $ 0 $ 0 0 0 0 0 0 1,475,064 1,536,531 61,467 1,540,689 0 0 0 0 11,502,355 3,761,386 (7,740,969) 3,377,973 0 0 0 0 1,000 3,805 2,805 2,619 61,000 109,550 48,550 85,005 0 50,349 50,349 (48,209) 25,000 25,076 76 45,010 10,000 10,000 0 15,000 a:: :<:....... ... Qz:::»>::>:::'.>€i::'.' ::>` 3..«::> >:>::::::`.'.<' :. '>:::::>:' >< <az1: 233:<:<:>:::1:2:>:985: ;1;;:z:::>:::;::> :>:::<• ::< ::>::::>:<> ?:>::>`.> :;.: t x ::::::: :> $ 13,000 5,500 7,500 $ 0 0 $ 0 $ 0 0 0 0 0 0 16,241,826 4,512,876 11,728,950 5,425,222 3,351,327 1,794,240 1,557,087 1,488,031 0 0 0 0 rr 26,919 0 26,919 0 12,108 0 12,108 0 ........3........ .......... .. ....................................................................,.��8 X133::;.:;;•:•;:•;::1:d•:2S3::93k.:;<.::.;:.:5:.;:.:.4:'S'E2�87`6::::>:::::::�:::: "[:3:��'?�3�••€358.;�:::.::.::.:5:.. .. $ (2,955,246) (1,316,730) 1,638,516 $ (872,798) (3,265,515) $ 849,195 $ 4,114,710 (537,150) S 0 0 0 $ 0 0 $ 0 $ 0 0 1,253,389 1,253,389 0 431,000 585,500 526,252 (59,248) 96,689 (148,300) (148,300) 0 0 (16,333) (16,333) 0 (232,687) 0 0 0 0 0 0 0 0 0 0 0 193,250 0 0 0 0 :.........►.......a............::.........,..:.............:...:....:.....:.:•::.::::.::::::1.::::::: .:::....b..24.,. 5F1,:.::::.:::::.,.:.,�4t. i.:::::::.::::::,:,:.`+ 9r...1F.::::::: .:::.::.:::.trs9..2�t#t):.::::::::::f# .:. .. ?; t s r $ (1,850,157) (211,641) 1,638,516 $ (248,548) (2,696,348) S 1,359,114 $ 4,055,462 (673,148) 1,837,751 1,870,378 32,627 2,098,276 2,699,548 5,274,689 2,575,141 5,947,837 250,000 250,000 0 20,650 0 0 0 0 ..............1..�I08.73.7................(.671..1.43........x..1..870.376....,............... . 5.... . :;.;; ;::.:;:.::.,. : . :. ......................_......._..........................c.............................r...._.c.........:....:............ :.2flO.................fi .:. 0 ;>:;:::>:;:::9:::;:::::<6 6 ..:61) >':<'.<:is [:; 689:<::= x... ................._.....__ .........................t................_...._........._....�........ r 73 City of Renton 1995 CAFR CAPITAL PROJECTS FUNDS Page 3 of 4 .r COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1995, With Comparative Actual Totals for Year Ended December 31, 1994 ... ......... ....... EhE.IOR.;HOI#SI:1CZ::G(1�1STRti±TIOhE>:F :_::::<:>:»»>:z:»::::::>::::>:':<=::» ............ ... ................._.._OtEE�.:::............................. VARIANCE r FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL REVENUES Taxes .............................................. $ 0 $ 0 $ 0 $ 0 LicensesAnd Permits ............................... 0 0 0 0 Intergovernmental Revenues ......................... 0 0 0 0 ChargesFor Services ............................... 0 0 0 0 Interest ........................................... 10,700 8,068 (2,632) 13,915 Miscellaneous Revenues ............................. 0 0 0 0 Q::AL<::RE:.ENEIE a'•» <>:: .:> :K::: x'.:: >::> ::: ' :K:s: s>x::`:> ::::z::>$: :>::[:.?:>:7:0::7Q.0:>... 7 F. 1t .. ... ... :.......:.....:......:::...:::::..::::.::.::...:..:.::::.::::::....:. .:::.:....:::::....:....:...................................................................::.:.::.:f+...r.?....:):.::::' .::::::::::7..:.9!5.... EXPENDITURES Current: Security Of Persons And Property ................. $ 0 $ 0 $ 0 S 0 Transportation ................................... 0 0 0 0 Capital Outlay ..................................... 24,024 15,065 8,959 37,489 Debt Service: Interest & Fiscal Charges 250,000 240,253 9,747 0 TD7AC..EXP.ENDITi1RES.<._. ...... $ ...................................................................... .......... EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES .................................... $ (263,324) $ (247,250) $ 16,074 $ (23,574) OTHER FINANCING SOURCES (USES) Interfund Loan Repayments .......................... $ 0 $ 0 $ 0 $ 0 OperatingTransfers In ............................. 0 0 0 0 Operating Transfers (Out) .......................... 0 0 0 0 Intergovernmental Agreements ........................... (20,000) (23,500) (3,500) 0 Sale Of General Fixed Assets 0 0 0 0 :::. 0:.: EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ................ $ (283,324) $ (270,750) $ 12,574 $ (23,574) FUND BALANCE JANUARY 1 ............................... 283,324 285,989 2,665 309,563 Residual Equity Transfers In ....................... 0 0 0 0 .FUND»BAL14N'GED:E:GEPIBER:> s< :::: �::K::: :as<i:::;::r::� :>::::>:.::<:>::>::>z::::>::::>a:>.....................1...2 9........Y�._ 'fps 2 »:: _.. ... . __. . __. ......_ _._ .. ...... .. .. ...... ._._...... .._ _ .. ........ _..... .. .:..::.,. . , 39:.,: $,:..:.:.285.,.984. 74 City of Renton 1995 CAFR Page 4 of 4 VARIANCE FAVORABLE 1994 BUDGET ACTUAL <UNFAVORABLE> ACTUAL 350,000 348,384 (1,616) 485,218 �. 1,475,064 1,536,531 61,467 1,540,689 15,807,911 6,870,378 (8,937,533) 6,923,813 1,000 4,388 3,388 2,619 71,700 209,179 137,479 74,932 ow 35,800 35,876 76 60,010 r 13,000 5,500 7,500 0 16,241,826 4,512,876 11,728,950 5,425,222 7,828,105 4,725,584 3,102,521 4,646,421 289,027 251,542 37,485 0 x871►r45fi.:::.:::::;::30E.>�7�.�.6!«3 (6,630,483) (490,766) 6,139,717 (984,362) (210,418) (200,000) 10,418 (504,007) 1,987,189 1,927,941 (59,248) 527,689 (164,633) (164,633) 0 (232,687) (20,000) (23,500) (3,500) 0 r 0 0 0 193,250 '::>:>:.1..5..�.'1.38.............' . .�3 898:;:::'::>:>:>'•»»:>'>t.2'``:39 :'•:><:>:':<::;:fi:7:.'.':�5 s3: r (5,038,345) 1,049,042 6,087,387 (1,000,117) 5,029,139 8,217,961 3,188,822 9,197,428 `s 250,000 250,000 0 20,650 Yr r s 75 City of Renton 1995 CAFR ■r .r ti Y 0 NT o r r 76 r City of Renton 1995 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 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. I 77 City of Renton 1995 CAFR ENTERPRISE FUNDS Page 1 of 2 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 WATERWORKS AIRPORT SOLID WASTE UTILITY UTILITY ASSETS: Current Assets: Cash and Cash Equivalents ............................ $ 2,483,120 $ 890,002 $ 51,216 Investments ........................................ 317,794 1,229,310 0 r Receivables, net of Allowance for Uncollectibles: Accounts ......................................... 1,882,065 99,675 1,035,670 Interest on Investments .......................... 470,198 34,628 0 Notes Receivable - Current .................. 0 0 0 Due From Other Funds ............................... 61,674 36,404 0 Due From Other Governmental Units .................. 496,394 0 71,018 Inventory of Material and Supplies ................. 287,636 0 0 PrepaidItems ...................................... 0 0 0 Rte. Total Current Assets.............................. 5,998,881 2,290,019 1,157,904 Restricted Assets: Deposits ........................................... 17,102 0 0 Revenue Bond Debt Service .......................... 5,522,614 0 0 Construction Account ............................... 6,013,667 0 0 Total Restricted Assets........................... 11,553,383 0 0 ' Note Receivable - Non-Current ....................... 0 0 0 Property, Plant and Equipment: Fixed Assets (Net) ................................. 96,044,094 3,607,862 218,394 Construction In Progress ........................... 8,417,001 116,094 0 ' Total Property, Plant and Equipment............... 104,461,095 3,723,956 218,394 Deferred Charges and Other Assets128,000 0 0 .................. 7QjAi ASSETS.. ,..;. ... .... ....<: ...:.:: >a22,141: �59. LIABILITIES AND FUND EQUITY: , LIABILITIES: Current Liabilities: Vouchers/Contracts Payable ..................... $ 268,049 $ 1,571 $ 426,063 Retainage Payable .............................. 72,518 0 0 Due To Other Funds ............................... 5,871 8,769 103,181 Interfund Loans/Advances - Current ............... 0 0 0 Due To Other Governmental Units .................. 219,014 0 0 Accrued Interest Payable ......................... 344,847 0 1,930 Accrued Wages Payable ............................ 20,684 4,248 1,789 Accrued Employee Benefits Payable ................ 3,159 649 273 Accrued Taxes Payable ............................ 41,486 28,538 27,714 Deferred Revenues ................................ (2,365) 65,427 0 Capital Lease - Current ............................ 0 0 0 Total Current Liabilities....................... 973,263 109,202 560,950 Liabilities Payable from Restricted Assets: Deposits Payable ................................. 17,102 0 0 General Obligation Bonds Payable - Current ....... 57,640 0 50,000 Revenue Bonds Payable - Current Portion .......... 1,570,000 0 0 Total Liabilities Payable From Restricted Assets 1,644,742 0 50,000 Long Term Liabilities: General Obligation Bonds Payable ................. 407,000 0 165,000 Unamortized Discounts on G.O. Bond ............... (6,705) 0 0 Revenue Bonds Payable ............................ 26,890,000 0 0 Unamortized Discounts on Revenue Bond ............ (568,733) 0 (5,798) Capital Leases Payable .............................. 0 0 0 Accrued Employee Leave Benefits .................. 243,619 21,788 6,051 Interfund Loans/Advances - Non-Current ........... 0 0 0 Public Works Trust Fund Loan Payable ............. 4,420,394 0 0 Arbitrage Rebate Tax Payable ..................... 9,144 0 0 Total Long Term Liabilities..................... 31,394,719 21,788 165,253 :. ;::;:x:::::34 01Z 74 ::. FUND EQUITY: Contributed Capital ................................ $ 74,326,819 $ 1,755,451 $ 0 Retained Earnings: Reserved For Debt Service ........................ 2,692,748 0 0 Unreserved 11,109,068 4,127,534 600,095 0.:095. .>: »:> y: >:;::. $:. 88 9:28 635:»':::: .5>882 985.::'•..?<:: 6o .::. Tf)[A{.::1UtJD>;EQl1 ....- -..:.:,......:.:.....__.....:......_: _.:..r_:'d:_:3... ;75 8:<:> r 4::<>:. 975:<'.:"<: ::s'.:I.. ...2�? .... TQTAi,.;:9.iR8Ik.IT'.tiS:ANO fUNQ.9:QU.is3Y.::....,:.:�,.:...:�......�: .. ::.. ......�..?Z2.� :..3'59.;::. . ,..,.. ,_.. ........ _._..., ... 78 , City of Renton 1995 CAFR Page 2 of 2 VOT GOLF COURSE 1995 1994 $ 135,617 $ 3,559,955 $ 882,891 0 1,547,104 6,679,779 70,877 3,088,287 2,712,907 0 504,826 575,483 18,260 18,260 0 145,379 243,457 140,298 0 567,412 568,595 52,848 340,484 263,611 0 0 3,937 422,981 9,869,785 11,827,501 0 17,102 20,435 456,145 5,978,759 3,923,963 0 6,013,667 9,526,046 456,145 12,009,528 13,470,444 121,740 121,740 0 9,252,638 109,122,988 89,197,917 0 8,533,095 18,810,614 9,252,638 117,656,083 108,008,531 i 0 128,000 144,000 10,253,50k s$ 139x:.85; $ 21,397 $ 717,080 $ 637,111 28,473 100,991 52,722 0 117,821 0 59,130 59,130 10,842 0 219,014 212,281 35,317 382,094 440,711 6,990 33,711 25,302 1,067 5,148 3,854 5,630 103,368 93,902 0 63,062 85,841 20,408 20,408 0 178,412 1,821,827 1,562,566 10,256 27,358 20,435 290,820 398,460 411,860 140,000 1,710,000 1,470,000 441,076 2,135,818 1,902,295 2,053,500 2,625,500 2,978,960 (102,695) (109,400) (128,447) 4,860,000 31,750,000 33,460,000 0 (574,531) (640,761) 65,034 65,034 0 19,523 290,981 248,161 109,927 109,927 19,057 0 4,420,394 2,862,821 0 9,144 8,584 *•• 7,005,289 38,587,049 38,808,375 $ 5,000 $ 76,087,270 $ 73,016,237 456,145 3,148,893 3,073,274 2,167,582 18,004,279 15,087,729 628;72.7w: :?:<::9 ..77>240>: .............. ....... ............................................................ ........ ........... 450" 7G:::>: 79 City of Renton 1995 CAFR ENTERPRISE FUNDS Page 1 of 2 COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 WATERWORKS AIRPORT SOLID WASTE UTILITY UTILITY OPERATING REVENUES: Charges for Services ........................... S 17,637,895 $ 668,852 $ 6,216,933 Other Operating Revenue £3RE1AII>E > . z. :z.. � >: : : '1,0 44,080 6,929« 6:<,4•.:4'.;3 :>G.' VENUE. X. W. 975:'::;`:;x. OPERATING EXPENSES: _ Operations and Maintenance ..................... $ 9,944,728 $ 211,766 $ 5,530,176 Administrative and General ..................... 1,712,501 91,116 0 Insurance ...................................... 0 14,776 0 Taxes .......................................... 1,529,819 0 846,323 Depreciation 2,098,039 174,978 55,847 285 a ?44:>OPERAT �#.trXPi*NES... -:._ ........ . . ...... :. •::451;r.63 ::::•::: :.::::::�✓ 434t.:: pPEit1(#:IIE(r:liE z: 'tiOSS:;:J > `•« <:<:>« :<:>:<: ;:::<>:.>::><:<> ::<::«::<>: ....................:.�...............�•.........�...........:..�....:...:h..:...:�........:..:!.;R YI:t.{.::.,..:�.;......�.�7W <Jisi�T7.7..�!.f�iiii:4:i��<:!i�iiiiii? NON-OPERATING REVENUE (EXPENSE): Interest Revenue ............................... $ 726,904 $ 113,026 $ 8,930 Other Non-operating Revenue .................... 14,543 27 134,656 Interest Expense ............................... (1,670,569) 0 (11,550) Arbitrage Expense .............................. (560) 0 0 Amortization of Debt Discount and Expense ...... (67,681) 0 (1,450) Now....:.-. . :: .:NFl � :.:: . . �b�. 3?�RA M 8:384: OPERATING TRANSFERS IN .......................... 70,410 0 0 OPERATING TRANSFERS OUT (20,000) 0 0 '::i::vii:�ii�vi:��ii::i:►:• • '�<Y••j•�•'Y^:"•�•+":••''•:1:: 3: ......................i.........:�....:.:................................................................................:....:..:.�,+3.. ���.::::::.:��:............�+.�6:::7:98:>::>:::z::::�:::>::»:::�: �::: :T8:384:: Depreciation Reducing Grant Contributed Ca ital......... 0 126,781 0 :1:)CItEl1S&:::::.0 .: .AIt AM RETAINED EARNINGS, JANUARY 1 ..................... S 11,351,881 $ 3,704,555 $ 678,479 Prior Period Corrections ....................... 0 0 0 NI ::: ::.aX i.RY::::> ..N G ... A ...1....EEST�k1 .......................,...................................................................t.......:.................................Q..:r.�5��.::.:::: :::::::::::. I?EC M8: :: 1 :<:z::?<::;;:::>::;:::?>::?<;?;%?':>> E»$:>:>:;:::;>: F* E��,.:: ::::: ►.::::::: :::::::::::::i'��: id:::: ............:..:::...::::.......::....:...:....................:........::.:::..::.:::•::•::.�::::::::.�:::::X.:.,::::�:•:::.�::::::::.:: ::::::::.:�:: •::::::::.: CONTRIBUTED CAPITAL, JANUARY 1 ................... S 71,142,184 $ 1,869,053 $ 0 Capital Grants ............................... 403,732 13,179 0 Prior Period Corrections ..................... 0 0 0 Amortization on Capital Grants ............... 0 (126,781) 0 Other Contributed Capital 2,780,903 0 0 —..T. :BIJTI 1>:R+�4P..T�k1.....f3EC MHIR. .... ..«.....x.«.....x...... ... BISx's::::>:;: :::::<::»::>T><>.; :::::>?::> '::>:<:»::<::::>.....:::>><::>: ::'_7 .......................................................................:..:::.. ..................:. .:.:....:,.:....1. . •. ..:::::::::::.::,:,:Q:•: ..:........ ....... ....... ....:....... s> . » ......:': 8t1:? 9>:635:::> ......:::>5>:;S i 80 i City of Renton 1995 CAFR to Page 2 of 2 ...........:.....:::................................................... GOLF COURSE 1995 1994 r $ 1,055,173 $ 25,578,853 $ 25,511,948 17,873 1,075,325 353,518 ... .........: $ 762,397 S 16,449,067 $ 16,202,745 0 1,803,617 1,595,414 0 14,776 12,816 4,886 2,381,028 2,424,218 99,596 2,428,460 2,220,451 .......:...........Bbb 879::.:•..:�...:::'�3:....f�.9422.. XX W. $ 85,311 $ 934,171 $ 880,672 6,546 155,772 87,766 (409,844) (2,091,963) (1,762,354) 0 (560) (560) (16,143) (85,274) (83,514) (>334':'130 ;::>:.. .......,........ ............... .........:....5....):.:.....:.::..::.. :(.877 4 ;;> ?:s:€5::>':> >?: X27 ..... ...89.3:7fi;:>::<:5:< >::2':53:.. ....2»> ...............::: ...........r::.�.:� ::.+ ::.+.:::::::::: 325,602 396,012 321,570 0 (20,000) 0 :::..................2. 0 126,781 164,763 � � ';z1x>:>:<'.::::::.:47.•..�39;;;::;.:.;$.::;;:.,,L..:�S?�.,.,364::::::::�:::;:::: $ 2,426,088 $ 18,161,003 $ 15,575,231 :::::.<:::i►.:.: . 0 0 (432,393) :5;>'1#2'.:838;::'.: $ 5,000 $ 73,016,237 $ 72,487,995 0 416,911 101,929 0 0 (1,437,533) 0 (126,781) (164,763) 0 2,780,903 2,028,609 628>727 ,.::::::....1.:. . r „� 81 City of Renton 1995 CAFR ENTERPRISE FUNDS Page 1 of 4 COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 WATERWORKS AIRPORT SOLID WASTE UTILITY CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Customers ................................. $ 17,003,816 $ 611,133 $ 6,278,665 Cash Received From Other Funds for Services .................. 273,698 0 6,443 Cash Paid to Suppliers for Goods and Services ................ (6,917,374) (31,052) (5,633,240) Cash Paid to Other Funds for Goods and Services .............. (2,830,703) (65,626) (265,012) Cash Paid to Employees ....................................... (2,304,718) (206,861) (115,291) Cash Paid for City Utility Taxes ............................. (1,062,547) 0 (375,410) Cash Paid for Retirees ....................................... 0 0 0 Interest Revenue ............................................. 0 0 0 Other Operating Receipts ..................................... 1,044,080 6,929 0 Other Non-Operating Receipts ................................. 29,632 27 0 Prior Period Correction0 0 0 ...................................... NE7>.::C.ASH •.P . A . ::) CIVS :: : :. >:RYlpE�: USR) .:. .... CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Proceeds From Interfund Loans ................................ $ 0 $ 0 $ 0 Operating Grants Received .................................... 0 0 92,679 Operating Transfers From Other Funds ......................... 70,410 0 0 Operating Transfers To Other Funds ........................... (20,000) 0 0 Repayments on Interfund Loans ................................ 0 0 0 50+:::G CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds .................................. $ 0 $ 0 $ 0 Payments on Bond Issuance and Registration Fees .............. (3,280) 0 0 Proceeds From State Long-Term Loans .......................... 1,788,396 0 0 Acquisition and Construction of Capital Assets ............... (7,063,758) (22,721) (2,161) Payments Received from Intergovernmental Loan ................ 37,874 0 0 Capital Contributions ........................................ 1,368,405 0 0 Capital Grants ............................................... 444,009 21,938 0 Principal Payments on Bonds .................................. (1,695,634) 0 (45,000) Interest Payments on Bonds ................................... (1,678,420) 0 (11,692) Interest Payments on State Long-Term Loans ................... (60,078) 0 0 ;•'6..862:'.8fr:::<:::>::5:'.::>>:>: :.>::r:::>::783::::::::::5:::><:>:::........ 3 NAfJCaNC:It�T I'Vf tI ES:..:':�_< ; :: $:.::.�...>.. ...........)...........................t........�....................5........ ....). CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ $ 19,825,916 $ 1,300,000 $ 200,000 Payments for Investments ..................................... (18,586,660) (1,279,310) (150,000) Interest on Investments676,349 99,550 21,620 ...................................... 5NET;;GASH.;:f:....R..O..0.:LD..E...E.).:...�d..L.S..E..Q....�:..:.$..Y::..i)FNO:...A..E..7_.L..�...1...7...L..E..S.:.;.....;...:r...:...:i..::.>.:.,.....:.r.x..:...:..��..:..:....:.:.:.r.:.�................................. ,. .� ;:;:>:. ......... S ...... .;>;:.:.:...:...... .....:. NET.::iN.4:R£J1,R£:.;(.Q:£�REksF+.)..::TN::CASH..AM.I1 .GASH.:.1^•61L1,1•�lll.l~1dT.5.:..;..,.:......,>..,.,.....:.......,. :.�.3. c.:::::�.........,......::..:... �. .4.01;.:.. ::::: >>:::;3>;•:::::z:»::::: 6 7 139 0''::::;.::;::<:: :1::::::'7555?'945........':::::<:'. >s:<'•:49:615" :CASH;.AND:::EAS},;E LtElt IVU EkTS.:.;.:JAJUARY,.:1.:::.....,•,.•.:....: ..:.. :.::.:...:.;.:.;....-:.;...:>:•:......:..::.....:.:13.,...9.....:.:...:::...::..:...:......:................................._........c......_.. 3GASH AND £A5R E oEJIVAI€K.TS, DEC£MB€R: 1 ,:,..r:. ..,..:. : ,.,.:• 9+ . 14,.fl'S6rR 1. '::: 89(I.fl 2. :.:.:�........... CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 2,483,120 $ 890,002 $ 51,216 Cash Restricted for: Deposits ................................................... 17,102 0 0 Revenue Bond Debt Service .................................. 5,522,614 0 0 Construction Account 6,013,667 0 0 To..T11E..GASH A :t.Hs ENQ:>f1F T1tE.;YEAR =: . - $ .1kQ3b;503 ::. 89Q 002 r 82 City of Renton 1995 CAFR Page 2 of 4 GOLF COURSE 1995 1994 $ 1,068,209 $ 24,961,823 $ 23,676,044 0 280,141 324,231 (341,483) (12,923,149) (11,697,501) (92,884) (3,254,225) (3,130,896) (349,329) (2,976,199) (2,622,729) 0 (1,437,957) (1,354,435) 0 0 0 0 0 0 17,873 1,068,882 354,133 0 29,659 21,212 0 0 0 3OZ'j. 8 6 48:975:::»<:: :::;:::5"5:TE) aw $ 150,000 $ 150,000 $ 0 0 92,679 110,143 316,302 386,712 325,887 rlr 0 (20,000) 0 (16,384) (16,384) (110,531) $ 0 $ 0 $ 8,570,000 0 (3,280) (155,764) 0 1,788,396 1,637,842 (3,612,844) (10,701,484) (8,758,199) 0 37,874 37,989 0 1,368,405 984,569 0 465,947 217,207 (268,620) (2,009,254) (1,821,020) (433,257) (2,123,369) (1,288,752) 0 (60,078) (39,373) .::::...................................:....:::.:.:..::......::.........:::::::::::.::::.:.:......::.....::..:. :::' < 44`:3'!'4'>?2�?':� ;��::�>t:�`'23��`843}::::::;:::$:>:::::�:::��'(:5:'�:51a�::>: $ 8,462,117 $ 29,788,033 $ 24,020,546 (4,639,388) (24,655,358) (29,418,481) 180,814 978,333 656,125 `81Q .14 353:;33 :;::::::;;::::>' );:€:4;332 x Id :::;•>'$: 591,762....: $ 15::56.7.48 :`:z::::'::>: s::::::1-.4053:[3 $ 135,617 $ 3,559,955 $ 270,705 0 17,102 20,435 456,145 5,978,759 4,536,149 0 6,013,667 9,526,046 i sr 83 City of Renton 1995 CAFR ar. ENTERPRISE FUNDS Page 3 of 4 COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 WATERWORKS AIRPORT SOLID WASTE UTILITY RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ 3,396,888 $ 183,145 $ (208,970) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Depreciation and Amortization of Deferred Charge ........... 2,114,039 174,978 55,847 Other Non-Operating Revenue ................................ 14,543 27 0 (Increase) Decrease in Accounts Receivable ................. (207,542) (47,726) (24,025) (Increase) Decrease in Due From Other Funds/Governmental ... (45,539) (32,261) 0 (Increase) Decrease in Inventory/Prepaid Items ............. (24,025) 3,937 0 Increase (Decrease) in Vouchers/Retainage Payable .......... 43,218 (3,231) (30,331) Increase (Decrease) in Due to Other Funds/Governmental ..... 12,603 8,769 103,181 Increase (Decrease) in Payables/Other Short Term Liabilities (54,815) 4,753 (1,511) Increase (Decrease) in Customer Deposits ................... (3,333) 0 0 Increase (Decrease) in Deferred Revenues ................... (43,329) 20,550 0 Increase (Decrease) in Accrued Employee Leave Benefits ..... 33,176 1,609 1,964 Total Adjustments ...................................... $ 1,838,996 $ 131,405 $ 105,125 1G7�:Y3T1£S...,:., .,..,r.:. :. _. _ . .... . $ #> �r SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: Fixed Assets Contributed By Developers $ 1,412,498 $ 0 $ 0 TaTAL N{3NCA5H ZAPITAi 84 City of Renton 1995 CAFR Page 4 of 4 GOLF COURSE 1995 1994 $ 206,166 $ 3,577,229 $ 3,409,821 99,595 2,444,459 2,236,451 0 14,570 (12,517) (1,231) (280,524) 41,616 0 (77,800) (337) (52,847) (72,935) (4,815) 24,749 34,405 (78,810) 0 124,553 0 2,928 (48,645) 96,602 10,256 6,923 (8,735) 0 (22,779) (32,192) 12,770 49,519 (77,521) $ 96,220 $ 2,171,746 $ 2,159,742 $ 0 $ 1,412,498 $ 1,053,532 r wi Irl r W 1 85 City of Rentor:1995 CAFR w xr w ti Y O O NT O 86 City of Renton 1995 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 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 ' 87 City of Renton 1995 CAFR ■r INTERNAL SERVICE FUNDS Page 1 of 1 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 - EQUIPMENT INSURANCE RENTAL 1995 1994 Id ASSETS: Current Assets: Cash and Cash Equivalents $ 694,354 1,763,710 $ 2,458,064 $ 1,254,701 Cash With Fiscal Agent ........................... 30,000 0 30,000 0 Investments ...................................... 514,803 1,810,175 2,324,978 2,840,134 Receivables: Accounts ....................................... 0 9,889 9,889 3,415 Interest on Investments ........................ 11,604 116,555 128,159 118,075 Due From Other Funds ............................. 0 9,541 9,541 0 Interfund Loans/Advances - Current ............... 0 11,763 11,763 10,842 , Due From Other Governmental Units ................ 0 0 0 18,348 Inventory of Material and Supplies ............... 38,223 0 38,223 39,116 Prepaid Items .................................... 0 3,000 3,000 3,000 Total Current Assets............................ 1,288,984 3,724,633 5,013,617 4,287,631 ' Property, Plant and Equipment: Fixed Assets (Net) ............................... 1,835,873 5,993 1,841,866 1,543,983 Total Property, Plant and Equipment............. 1,835,873 5,993 1,841,866 1,543,983 ' Interfund Loans/Advances Non-Current ........... 0 7,294 7,294 19,057 LIABILITIES AND FUND EQUITY: LIABILITIES: Current Liabilities: Vouchers Payable ............................... $ 20,707 94,033 S 114,740 S 48,332 Retainage Payable .............................. 30,029 0 30,029 0 Due To Other Funds ............................. 0 0 0 3,492 Accrued Interest Payable ....................... 11,757 0 11,757 12,998 .r Accrued Wages Payable .......................... 3,765 625 4,390 5,017 Accrued Employee Benefits Payable .............. 575 95 670 764 Other Short Term Liabilities ................... 0 (5,239) (5,239) (2,205) General Obligation Bonds Payable - Current ..... 205,795 0 205,795 195,505 Total Current Liabilities..................... 272,628 89,514 362,142 263,903 Long Term Liabilities: General Obligation Bonds Payable ............... 1,323,260 0 1,323,260 1,529,055 .. Unamortized Discounts on G.O. Bond ............. (23,186) 0 (23,186) (19,183) Accrued Employee Leave Benefits ................ 17,758 2,949 20,707 59,102 Claims Incurred But Not Reported................ 0 1,144,050 1,144,050 1,299,559 Arbitrage Rebate Tax Payable ................... 3,291 0 3,291 3,101 ... Total Long Term Liabilities................... 1,321 123 1,146,999 2,468,122 2,871 634 a'QTAI::::l;�ABLk..� l:£.�,,;:;i:;iia.tri;:i;:isjrr;:�w:;r,.;ri;y.!w:!�i+iyMr�c;!MFv;i�Y�r..r.t'�::•.[ .. FUND EQUITY: Contributed Capital .............................. S 1,048,674 0 S 1,048,674 $ 1,038,192 Reserved ......................................... 9,4 0 5 51 59,451 Unreserved2,4 19 ......... 48 32 2,4 , 4 56 2,924,388 1,676,942 4 a3 .5. ...5....34...; . . : .:o-:.: >'.: .�...>::�:':':':: t,:r.:,:,:r:M:,:,:nx:,:,:r.x:,:,:,:a•:,v;�.r,t.�;!;`�o-t:+.:l;.r;y 1.13:J;4.�.2.Y.41................._�........�..... ,..... TQTAi:, UN .;; 41l.1Y:::....,.,:x:«.,.:............................................... :.;:.;;:;;;<;<:..;:.;;:.;:: .:::..;:.:......;; :;.:::>.:.:;::; 850:'ta71: t;k�:t:ES>::A�iD»:€:UNQ:<,£QLI:1:isY::;;::-::<_;...;,:-:...,;..,:...,;�:-:....;,;-:.>:::$::3.�1s�4,.&57:::,:,:.:.::3.. ......................... 88 ' City of Renton 1995 CAFR INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY Page 1 of 1 FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 EQUIPMENT INSURANCE RENTAL 1995 1994 OPERATING REVENUES: + Charges for Services ........................... $ 1,369,378 S 4,450,480 $ 5,819,858 $ 5,932,244 Other Operating Revenue .. 0 46 46 025 025 97,214 ,:..:. ii:::;::i:::i.':<':...::: ;.>:::::: ::.i.�:::: 1 3b9: . .. .. ......................::�::�•:::::::..::::::;;:-ii;;:.;:..............a.....::.r::::::::.:::::::::•;;;:.;:•;;�F 429 lr�i3<::z y OPERATING EXPENSES: Operations and Maintenance ..................... $ 708,150 $ 55,781 $ 763,931 S 701,228 Benefit Payments ........................... 0 3,078,434 3,078,434 3,081,780 Professional Services ...................... 0 275,582 275,582 249,804 �r Administrative and General ..................... 177,037 113,353 290,390 279,664 Insurance ... 0 418 050 Depreciation ................................... 4,7 418,050 40 85 375,694 0 375,694 344,801 . .�:. ..... .....� .... ... 08.':49"::::: ...:................:...,.::::::.::::::::r:::::�:`:.;;::•;:;�':.;:.;;:.;;:.;»::5�5:�:��5..:-;;:;:;::>�;:;�::»:i:.;:•:;?Fs6�r:8Q2:.r;;;.i:•: ::::<::;:::>::::.:;." •" ' :.;; NON-OPERATING REVENUE (EXPENSE): Interest Revenue • ................... $ 81,609 $ 168,631 $ 250,240 $ 104,755 Gain (Loss) on Sate of Assets .................. (3,692) 0 (3,692) 4,908 Other Non-operating Revenue .................... 765 59,807 60,572 Interest Expense ,220 (91,189) 0 (91,189) (455,112) Arbitrage Expense .............................. (190) 0 (190) (190) Amortization of Debt Discount and Expense .. (3,555) 0 llNi:OP)AR1433Hi;:>t2 .:..1� c "" (3,555) (1,825) E1FE..fI ..)ilT..af::::tt.:uurtl. :::>::>:<::::::;>:<:>:::::::;:<;::::>:;>::::::::<::. >.:;.>:::«::>;s;.:.:;:. ::.:.>:.;:<: .:; >:.;;;;:.;." :::,.::. ............. . .............................:::GhC.���4�. �;N M;...�.If;M;A.._K:M:..: �::::-iii}ii:v}:'{6: .. ..n .. .::::::n nii- . �HCOME ; E.OSS):SE..FOR .:#11?! '#`'lN ::>: - �•: .:....:...:::.. .:::. . :....:::.::.:: :.i:.i:.i::.i>;:,. :::::................:::::::::: ..... ...............:.:,:--.,.:::...5...........:.:92:"2 ::::::;.i ".;;:.;;•.;:.::::. .. .{ ..... OPERATING TRANSFERS IN .......................... 120,000 314,909 434,909 256,077 OPERATING TRANSFERS OUT .......................... :;l.i:t.� ?::�:[ 9 E:<:f l 0 55...1:;.:;::-•:;;.>;: :•;:. :....:.:::-:::.:..:::.�.::: ..:.:.:.:.::.:.:.:.:..:.i....(4.,.:.0. .00.:):•:•:•ii::.. : . :.: . ... 0 (4,000) :::: ::::::: ((10,000) ) ;.: RETAINED EARNINGS, JANUARY 1 ..................... $ 274,187 S 1,402,755 S 1,676,942 $ 394,713 2t Tl1}:h11^#1 .. ., :::.6:.;:.:::.� :;•ii:•i:.ii;•. .y:::. .;i:•;iii:.: ;:::::::•..;.;.: ;.: ... :::::::: .:::.�:.:::::. ...:. ... :i#t?:AT:tot11::::EA r......::. R#Jt�t ...QGE :i:;<; :•i;:;: ;:::::::. .:;;:.:< ldigitRE:.:.......:-.:.:-..................:......::::::.5::.::..::::::. ;.:...,.:::::......................::.:::::..........................:.::::::...482:7r32;:;<:i:::;: :.i:;;•iiii :.; .:.:: ......... :.�:.�:. .. ::...... ......... ... . .. . ... :555 CONTRIBUTED CAPITAL, JANUARY 1 ................... S 1,038,192 $ 0 S 1,038,192 $ 1,038,192 Other Contributed Capital .................... 10,482 0 10,482 0 t>aiTittHttMUM' 11. :FEthEE�::8t1E1h71'>::��£.'. ,;**:::;::::: ..............t......� ��„�7.1.,.,.rr.c.:r:a.cw.r::a:w.;r:d;.:v.r:::�•.:: .... 89 City of Renton 1995 CAFR INTERNAL SERVICE FUNDS Page 1 of 1 COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 EQUIPMENT INSURANCE RENTAL 1995 1994 CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Other Funds for Goods and Services ........ $ 1,369, 4,446,772 5,816,150 S 5,916,920 Cash Paid to Suppliers for Goods and Services ................ (354,996161) (3,891,116) (4,246,077) (4,096,542) Cash Paid to Other Funds for Goods and Services .............. (339,897) (105,770) (445,667) (399,609) Cash Paid to Employees ....................................... (225,893) (52,112) (278,005) (240,805) Other Operating Receipts ..................................... 0 43,321 43,321 97 214 Other Non-Operating Receipts ................................. 19,113 59,745 78,858 71,704 :......... . 0. . ........ ........ <:. .3..4..8..::.8..8..... .. CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Operating Transfers From Other Funds ......................... $ 120,000 314,909 434,909 $ 256,077 Operating Transfers To Other Funds ........................... (4,000) 0 (4,000) (10,000) Repayments on Interfund Loans ................................ 0 10,842 10,842 13,384 •.:..:..::. ..... . ..;.. ::. ::.. ..::: :;.::<: ::. , :. ..::. . .........::::x;:.;;:;;;:.3:16.000.:::::::::::;.;:.;;:.325..75..t:.;;.;:<:;. :::::��3::.7'x3::::.�:::�.:::::.:........ ......... CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES: Proceeds From Sale of Bonds S (7,559) 0 (7,559) S 969,385 Payments on Bond Issuance and Registration Fees (182) 0 (182) (100) Proceeds From Sale of Equipment .............................. 33,334 0 33,334 17,446 Acquisition and Construction of Capital Assets ............... (704,610) (5,993) (710,603) (281,009) Principal Payments on Bonds .................................. (195,505) 0 (195,505) (74,005) Interest Payments on Bonds ................................... (92,247) 0 (92,247) (41,435) Residual Equity Transfer-Out .. 10,482 0 10,482 0 282:<: ............................... ... . . .:: .. .. ..:.::.: :..... :: .;: :., . . R:;>:81:<OAPtaA ::; :1:N�tia:f1 ::<AGTYL�I:ES,>,:.. :Y>........;:<;. ;;;:::.fi �8.28a*::::::::::::.:::.:t5,.:.....3............_i. ._......i.........._............,.......... €?S�13EQ.::(SSE..3....................... CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ $ 1,850,000 4,775,234 6,625,234 $ 2,488,997 Payments for Investments .................................... 657 . (1,885,078) (4,225,000} (6,110,078) (4,177:900) Interest on Investments ...................................... 75,362 164,794 240,156 7,657 ,.: ...::.::::::.. ;;; ..;.::. ., �;:.;:;•;:;.;;;fi0:•2&i:.;:;;«.;;;:;:;;;:;.;'T�5,.o2�::::::::::.::::.:..T..x..5.,3�.12::........_......�. .. Et):;:::8)f:'.I NY88f.i.NS:;:AGx:WLTSES::,t..:.;.:.:.�.. .. _....... Et►::.( ....)...................... ......... :..:.:.....;::.:......:...:....:: fI :: :.;:.;;;;:.;;;:.>:.;,... ::. :::.:.;::;.;::;;:::1:::2 :3 ;:.::•;:<::ic:»»;<::;56:379::;:: S Cf� N.;<zFtlklt3C33�4:: bay.)::::.:::::::E..r .!2i.:...:............. ..b.i'...... 't�» . ::::::::: .*-.4 :::.;::.::;.;;:.::;:>::.:;;;;; ::.::::::.: ;.::..:.:.; <•. .:.;.. . : fk : ;.:.::..:.,..:Y:..:..:<,;Y:..;...;x:......:x..:..•:•:•::,::::::::t.,#X26.................................................. CASfI;:.Enlll.fll ENT......:....................... X54©�:.:::..5:.:1:. 4.,7..:..:.. �1=�S1i:z:ANO 6ASIt i;(]U3'yRl.1r#ETS,>DI±OEfABElt�:3�:<>�:>;�. ...:., .:,:-;-:•:.:.:...:.:::.$..::::::.b9;�.�5.... .. ..... ...... ,.'�'..�............ CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents .................................... $ 694,354 1,763,710 2,458,064 $ 1,254,701 113TAL CASH RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) $ 108,497 1,018,525 1,127,022 S 967,396 Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Depreciation ............................................... 375,694 0 375,694 344,801 Other Non-Operating Revenue ................................ 765 59,807 60,572 2,829 mm (Increase) Decrease in Accounts Receivable ................. 0 (6,474) (6,474) 24,978 (Increase) Decrease in Due From Other Funds/Governmental ... 18,348 (9,541) 8,807 53,551 (Increase) Decrease in Inventory/Prepaid Items ............. 893 0 893 (412) Increase (Decrease) in Vouchers Payable 6,346 60,062 66,408 (37,464) Increase (Decrease) in Due to Other Funds/Governmental ..... (47) (3,445) (3,492) 3,492 Increase (Decrease) in Payables/Other Short Term Liabilities (1,223) (2,409) (3,632) (62,064) Increase (Decrease) in Accrued Employee Leave Benefits ..... (41,533) 3,044 (38,489) 11,342 Increase (Decrease) in Claims Incurred But Not Reported .... 0 (618,729) (618,729) 40,433 i Total Adjustments ...................................... $ 359,243 (517,685) (158,442) 5 381,486 968.580..................;......;.......... ::::::::x00.840............ < :.......: 4fz7::-740.......::::::.............. �lIE1~'�CASH''pR�Yli#BQ:i05ED3•:;611::::()PEt2A't:i:NS:;:�CT1:VI1'1ES �. ....... . SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES: $ 29,755 0 29,755 S 6,038 Asset Trade-In ............................................. ..,: . . :::.:::::. ::::::::::::::::::::. ::038 :T�ktll�::1±CONCASfI::.:CAPITAL::::�Nt#::kEi:RtEB::�:;:l�Af�C:iNB::.ACi1:VI7115......�x....,�...:::. . ..... .....,.. ......... 90 City of Renton 1995 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,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. AGENCY FUNDS 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 1 ' 91 City of Renton 1995 CAFR . FIDUCIARY FUNDS Page 1 of 2 COMBINING BALANCE SHEET AS OF DECEMBER 31, 1995 RSFgj:::;;:;>. With Co Totals for December 31 Comparative Tot 9 mparativ 1 94 PENSION SPECIAL ADVANCE TRUST DEPOSIT TRAVEL ASSETS: Cash and Cash Equivalents ........................ $ 133,758 $ 125,625 S 4,000 Deferred Compensation Plan Assets ................ 0 0 0 Investments ...................................... 2,927,230 0 0 Receivables: Interest on Investments ........................ 123,927 0 0 Interfund Loans/Advances-Current - Note 5 ........ 47,367 0 0 Interfund Loans/Advances - Non-Current - Note 5 .. 102,633 0 0 .......... .�...1.R!f.f.�.�....r:1:�.:�..y.:4.�:1iYi{:Y.�Y.:VSr:1:•�:�!1?K«:.�:V:'��'.�.:��.:: ��.�.:::•i:r.... ... :r.:� :f�::.�:.:�:' :.;:}'.;.:}: s� .' �:::.... .:.�::::: i .. LIABILITIES AND FUND EQUITY: LIABILITIES: Vouchers Payable ............................... $ 0 $ 10,350 $ 0 Deposits Payable ............................... 0 115,275 0 Deferred Compensation Payable .................. 0 0 0 Interfund Loans/Advances - Non-Current ......... 0 0 4,000 .....................................................................:x:r.e.a:�R�.w«:�r��:«:e:r.��.«.«»:x�.«.«:ra•::::i!:::::..�::::::.:.:.::::. ::«::.>::::.::..%:: �..'::�:�:�:�:�i�::� :�i:??:�:.�'::: ,:.:.; FUND EQUITY: Reserved For PensionObligation .............. $ 7,848,000... $ 0 $ 0 Unreserved - Undesignated .................... (4,513,085) 0 0 _......_:: UI: Y.:,,:.:....:...t....;.,.....:......:,:�;«..:.:,:.. ..;.:.,..;...;.,.�..<�;-;:.;;:$:;;3...334...4 ;;:.;:.;;:. .::.;:.;:.;:.;:.;:.;:............ ;;:.;:•;;:•I#:•;;:•;:.;: :.:...........;;::•;;::.;E A!•:,L..i.. I£ 1.::Q .......:.i~.tlLAY.::..........,.......,:.:..........,.,. ..,. .:::. .. 4::9;: <z:>:�<:>::::.-":;: .:>: ::::::::<:::»: ><»::::::>::::. :;.: ;:•: ... 3,.33., ..f5.... ...�25.4�5 ...5... 4.,,.QLlE3::. 92 City of Renton 1995 CAFR Page 2 of 2 DEFERRED COMPENSATION 1995 1994 $ 0 $ 263,383 $ 458,793 6,883,333 6,883,333 5,510,358 No 0 2,927,230 2,554,901 0 123,927 123,863 0 47,367 0 0 102,633 0 73 $ 0 $ 10,350 $ 0 0 115,275 149,671 6,883,333 6,883,333 5,510,358 LLe y0 yy 4,000 CC 4,000 $ 0 $ 7,848,000 $ 7,076,000 SII 0 (4,513,085) (4,410,434) '.:.:: ..33tc2.,�t65S64::>:' Ib ow Ow to rr 93 City of Renton 1995 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, 1995 With Comparative Totals for Year Ended December 31, 1994 1995 1994 OPERATING REVENUES: Fire Insurance Premiums ........................ $ 69,471 $ 78,893 Property Taxes ................................. 286,000 257,000 Interest Revenue ............................... 303,914 281,189 :.* OPERATING EXPENSES: , Benefit Payments ............................... $ 300,591 $ 295,605 Administrative and General ..................... 7,765 3,157 ...OT 10F.911 ATNtr:.£XFE1s�$ES>«a::�:••.,,...:+ ....:,,.:..:.t.....+.,...:-.....:::::��:.::::::,:.:: ©8.� .._.....::.:.,:.,.:::.: ::.$r......._.. ;�::: : C::: ..,. '.;::;:.:i:::: :�.'r::F::::4:'r:::;::::'i.'r r.�i::t:r:;r;�;:*:;ir,.;�e;*:;r;�rt::'::;:,�:::.::•:::::::::::::.�:::�::>::::::::::::.::....:.............:.....:..:.... RETAINED EARNINGS, JANUARY 1 $ 2,983,886 $ 2,665,566 .................... ;: :: . ::: 9..5........x.. .._ :::#3E01 ���A�NI^t2.,EARNt�fG�.,.. _ 94 City of Renton 1995 CAFR FIREMEN'S PENSION TRUST FUND COMPARATIVE STATEMENT OF CASH FLOWS Page 1 of 1 FOR THE YEAR ENDED DECEMBER 31, 1995 With Comparative Totals for Year Ended December 31, 1994 1995 1994 CASH FLOWS FROM OPERATING ACTIVITIES: Cash Paid to Suppliers for Goods and Services ................ $ (4,500) $ (221) Cash Paid to Other Funds for Goods and Services .............. (3,265) (2,936) Cash Paid to Retirees ........... (300,591) (295,605) ............................. �........:?.��:,QPERAT.iNG./ICTI:VI;T.: : ::::>.;<:>>:::::;::<::>�:<::;:::::>::>:<;:�>:::;::<::;>: ;;»:::<:;::>::,:: n •:; : :,�<.;;:�y.:::::::::. . (gyp.. t.. `i CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Proceeds From Interfund Loans ........ $ (150,000) S 95,000 Cash Received From Taxes on Fire Insurance Premiums .......... 69,471 78,893 Cash Received From Property Taxes 286,000 257,000 aJETCASHPRail:pE '.{(35fEx#:?BY:;:: . . ::::::;: ....:.. : Nt(�N. A!?.i.TAE..F:ftANCCT;TtisT:i1. .;;::::::::::><::::::: :.;:.;:.;::; CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds From Sale of Investments ............................ S 388,700 $ 256,355 Payments for Investments ..................................... (761,029) (821,087) Interest Revenue .. 303,850 246,289 ....................................... . .......... ..............:.f:.:R1<,.:: �,�.,���.5y`.1';��.(\4.;?��i,�.�.��;�a':';�:.a:.x.x.wvx;i:v:i::•::.:.:•.:•::•.:.:>:;:. :is:�:.;»:.;:.:: ... ':::;::::_:i;;:::::i;:;i': :: .::::. ..:. x:«:....x....:::.$..:. (68,479)..::$...: •:f'.:T�l:i:difl::>):: :. )QUi1f�4T.BETS.:;.;.JAMURf;1�.;:.::;::x.:.:.>x.:..:.:.:.x.:..:.:.:.x;:::'.:.::::.:..:.::::;�.::.;..;:.;:.;:;.;:.:;;;•;:.;...:.:.:;;.:.; .:::::•.�..::. .. : AND:s> ASR..:EQ ; . ::... :........ ..:: ..::::.::::::.:::::::::::::.::..:.:::::::.:::..:::::.::.: .::::::::::::. ..................I3th1�N'C5:•::>:Df<CEMBEiI31 'z::>�:>;.;:.:;::;:,;:.:.:;•::;:::.;;:.:.;: _ CASH AT THE END OF THE YEAR CONSISTS OF: Cash and Cash Equivalents ........ $ 133,758 $ 305,122 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating Income (Loss) ...................................... $ 3510029 $ 318,320 Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) By Operating Activities: Fire Insurance Premium Revenue (69,471) (78,893) Property Tax Revenue ....................................... (286,000) (257,000) Interest Revenue Total Adjustments (303,914) (281,189) S .......................... (659,385) $ ,. D1�I.QEb:>USER ;:•8Y:>:. . : :::;> �''..<.:':::.>: : ::;;;:»>::: (617,082):...�:::............. . . ' 95 City of Renton 1995 CAFR COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Page 1 of 1 ALL AGENCY FUNDS YEAR ENDED DECEMBER 31, 1995 BALANCE BALANCE 1/01/95 ADDITIONS DEDUCTIONS 12/31/95 'SPE-C;AL>:aXER:OSIT : END.:.' ><»;;< ; ASSETS Cash and Cash Equivalents S 149,671 $ 349,625 $ 373,671 $ 125,625 Due From Other Funds 0 0 0 0 TOTAL ASSETS $ 149,671 $ 349,625 $ 373,671 $ 125,625 LIABILITIES Vouchers Payable $ 0 $ 152,176 $ 141,826 $ 10,350 Deposits Payable 149,671 182,287 216,683 115,275 TOTAL LIABILITIES $ 149,671 $ 334,463 $ 358,509 $ 125,625 MY ASSETS Cash and Cash Equivalents $ 4,000 $ 0 $ 0 $ 4,000 Accounts Receivable 0 0 0 0 TOTAL ASSETS $ 4,000 $ 0 $ 0 $ 4,000 LIABILITIES ' Vouchers Payable $ 0 $ 0 $ 0 $ 0 Advances From Other Funds 4,000 0 0 4,000 TOTAL LIABILITIES $ 4,000 $ 0 $ 0 $ 4,000 .ERRED:CDWERSATtt71 ASSETS Deferred Compensation Plan Assets $ 5,510,358 $ 1,372,975 $ 0 $ 6,883,333 TOTAL ASSETS $ 5,510,358 $ 1,372,975 $ 0 $ 6,883,333 LIABILITIES Deferred Compensation Payable $ 5,510,358 $ 1,372,975 $ 0 $ 6,883,333 ::>:TORAE �:`:11LC:11��NE?t fi3ND�:<s'<>ss , ASSETS Cash and Cash Equivalents $ 153,671 $ 349,625 $ 373,671 $ 129,625 Deferred Compensation Plan Assets 5,510,358 1,372,975 0 6,883,333 Due From Other Funds 0 0 0 0 TOTAL ASSETS $ 5,664,029 $ 1,722,600 $ 373,671 $ 71012,958 LIABILITIES Vouchers Payable $ 0 $ 152,176 $ 141,826 $ 10,350 Deposits Payable 149,671 182,287 216,683 115,275 Deferred Compensation Payable 5,510,358 1,372,975 0 6,883,333 Advances From Other Funds 4,000 0 0 4,000 TOTAL LIABILITIES $ 5,664,029 $ 1,707,438 $ 358,509 $ 7,012,958 96 City of Renton 1995 CAFR GENERAL FIXED ASSETS A COUNT 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 `r considered public property. Infrastructure includes items such as roads,bridges,curbs and gutters,streets and sidewalks,drainage systems,and street lighting systems. �r r r OW aw i ' 97 City of Renton 1995 CAFR ' GENERAL FIXED ASSETS ACCOUNT GROUP Page 1 of 1 COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 1995 1994 wr. ASSETS: Investment in Joint Venture ............................ $ 1,081,875 $ 1,062,201 +•• Fixed Assets (Net) ..................................... 62,219,310 54,987,170 Construction In Progress ............................... 5,559,969 7,548,931 Other Credits: Investments in General Fixed Assets .................. $ 68,861,154 $ 63,598,302 '.48 �. . .:::... ... .::.:. ::::.:.;�.;:;:.:•.;.;.:•_;:.;.;.:.;.:iSR:i:Y:isw:i:Y'.:isRi`J4Si::i::Ji:4::��i lx.i:::<;.�K.;::�......a.......Y................ .......I........J........... r� ,1 i a r 98 City of Renton 1995 CAFR SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE Page 1 of 1 DECEMBER 31, 1995 ::::::.::.::.:::.>::.::.:;.>::.>:.>::.:.::..:: Land $ 19,395,945 w Buildings 20,783,845 Improvements Other Than Buildings 14,718,353 Machinery and Equipment 7,321,167 Construction Work in Progress 5,559,969 Joint Venture 1,081,875 ORAL.::�i7�Efl::A��S>;f 5::::..::::::.:.:.::.::.::.::.:.;;>:.::::;:.;:...:::::.::.;:.;:.;::.:.>:.;:.::;.;;;•::::::..;:. :.;;:.::.;:.:. .:: l�rr :4151 !]'. # # Ri.:.:::TJi:.ASSFS;:.€101...::::.:::;.:;;»;:.:;.;;•::::::::::::.::.::.:.:.:.:.:::;:.;:.;::.:..:::::::.;:;.; >:.::.:<.:. lir ..................::........:.::::.•::::::.:�:.:::.:::;:.;:.;:.;:;.;:;.;:.:;;•;:.;:.:;::.;:;;.>:<:::>;:.;:>::<::::>;<::;::»>:::;<:. General Obligation Bonds $ 21,821,984 Federal Grants 6,585,391 ati State Grants 2,304,514 County Grants 10,463,603 General Revenues 25,235,834 Donations 2,449,828 rr ■r ■r 99 City of Renton 1995 CAFR SCHEDULE OF GENERAL FIXED ASSETS Page 1 of 1 BY FUNCTION AND ACTIVITY AS OF DECEMBER 31, 1995 d ::.:::;:;.;;.:. . ..... .. ..::. ..... .:....;:.... :-:::.:::::...:..:.::.:::.:::::::::::::...::...:.::..::::::.::.::::::...:::::::::.:.:.::::..:.:::::::.::::::.:::::: .........-.. ,................----...............:....... v : :>a<::::8tial:#)�N�S >: :. TATAL _ .............. ................... ........... ........... . General Government $ 7,232,541 $ 1,376,171 S 3,460,852 $ 258,075 $2,077,229 $ 0 $ 60,214 Security of Persons/Property , 5 625 752 261 249 844,552 235,369 3,070,640 1,081,875 132,067 Physical Environment 3,906,541 0 2,751,874 743,383 411,284 0 0 Transportation 1,248,690 759,563 118,218 0 370,909 0 0 Economic Environment 2,095,265 472,016 1,294,221 9,702 317,737 0 1,589 Culture and Recreation 48,752,365 16,526,946 12,314,128 13,471,824 1,073,368 0 5,366,099 TOTALE1tAL .. .......... ..GEN... . . .,...,.,.... . ..... . ..... SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS ' BY FUNCTION AND ACTIVITY YEAR ENDED DECEMBER 31, 1995 i::...................: : .ii ii z>;2: ii4iii>:: xtiiii;» i ::i::>:<:::» ::::>::>::>;:;:i::i::i i ..................... ::: : r.. .:: €> X . :'>` '` ` > 111?? : ?� :""`E<:>::::>�::;: ::�::::>::::f :r::::::«:>::<:::;:'::::>��»::>5<;:r;��:�:::;;:i:;:;:;: ;;::''•::;::;;:::;:''::::::r:::::::: `:::::::::::::::::i?:i::<E:'s:<:i:zi::::<::::;:i::iii::i:; ;;: i;i:;::::::i:;::;:::;';r..;::: ;: ::::::>::::::: :i::;%;� 5 :;:;:::>::::�: :;v;:;�<::::>i;;:: .,::.. ..::. ::. f+ASBSECR1"KSk$::>:;:::::>:::':<: ::>::::>::::>:<::::::?:::::>::<::::�:::<:::>: ::<:i:.....:..........,r>:i::: N£7:1 J�F..... ... 1111;1 5..... . . . :.::.:.:::::::::..:...:I3 R. . ... ............. ;:.;:;::.............. General Government $ 6,957,759 $277,590 $2,808 $ 7,232,541 ' Security of Persons/Property 5,205,889 517,609 97,746 5,625,752 Physical Environment 3,899,995 27,893 21,346 3,906,541 Transportation 1,158,029 95,178 4,517 1,248,690 Economic Environment 2,062,085 39,449 6,269 2,095,265 Culture and Recreation 44,3141544 8,774,897 4,337,077 48,752,365 ::i:<:i;:::::;::;:£::i::::i:;;•::::::;><:><:;:�i:::;:i;:i::::i:::.::.:i�.: .,.::..;.:..:::..::.•:�;:;.;:.;:.::.::�::i::iii:i;:iiiiii::ii::i::i::.:i:.>:�..:>:.::.;;�..::::�••'::::i::i:::i::i.:;:. ..:::.:>:���'�'>�::;;:;::::>::> :`::z::<::><:>>::>:::<>>'::><:> `::<:[:::>:::<��:::: ::.. :.;:.::...:.:: :: ;:...;:.;:.;::.... :. ..:<::i:::<::i::::;:.;;;;:.;:;:<ii.....ii:;;;:;;;>:<::; ::;:: EitR1::::iF11Ftt�:<.ASSESS::i:::<:i::>i::S:<��x,:X48.,:�fl'1:;.;:,.:,:;:,:.;;>;>;:::::::.::::::::::::::5�.: .��,b'EG::::::.::..._......_...................._.................................. __...........;.......;................ • �r 100 so City of Renton 1995 CAFR GENERAL LONG-TERM DEBT ACCQUNT GROUP The General Long-Term Debt Account group is self-balancing and is used to account for unmatured principal on the General Obligation 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. yr t 101 City of Renton 1995 CAFR GENERAL LONG TERM DEBT ACCOUNT GROUP Page 1 COMPARATIVE BALANCE SHEET VIM DECEMBER 31, 1995 With Comparative Totals for December 31, 1994 1995 1994 ASSETS: Available in Debt Service & Capital Project Funds. 3,817,539 4,372,588 Amount To Be Provided Long Term Debt Retirement 17,876,962 19,213,486 AA TA717:769.4-:5 , LIABILITIES: General Obligation Bonds Payable ............... 14,326,985 15,769,620 Special Assessment Bonds Payable ............... 3,691,000 4,141,000 Accrued Employee Leave Benefits ................ 3,440,472 3,108,512 Installment Purchase Contracts ................. 185,569 275,297 Arbitrage Rebate Tax PayabLe ................... 50,475 291,645 .5 Z1`.,;-.4.94: 01, 102 City of Renton 1995 CAFR 1995 Annual Financial Report Statistical Section 1 1 1 1 ' 103 City of Renton 1995 CAFR TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION; Page 1 of , INCLUDING CHANGES IN FUND BALANCES- LAST TEN FISCAL YEARS, FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS Ten Year General Governmental Revenue Trends M ' I — $48.4 $50 $43.2 - $42.6 $45-- $41.2 0 $40- n — $33.6 S $35-/ $26.9 $28.1 $30 $25.8 0 f $25 D $20- 0 $15 I $10 r ' r $5 s $0 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 DESCRIPTION 1986 1987 1988 1989 REVENUES Taxes $ 17,639,615 $ 19,265,841 $ 19,911,366 $ 21,587,371 Licenses and Permits 828,563 810,094 717,366 691,646 Intergovernmental Revenues 3,317,946 2,251,938 2,363,848 2,276,308 Charges for Services 410,020 446,948 530,318 1,277,780 Fines and Forfeits 670,817 626,088 653,326 650,059 i Interfund Revenues 0 0 0 0 Miscellaneous 4,043,930 2,417,406 3,968,222 3,211,659 TOTAL REVENUES $ 26,910,891 $ 25,818,315 $ 28,144,446 $ 29,694,823 r EXPENDITURES General Government $ 3,527,007 $ 3,413,832 $ 3,896,716 $ 4,548,894 Security of Persons and Property 8,375,821 8,630,732 9,448,293 10,414,800 ., Physical Environment 820,107 853,691 970,075 990,521 Transportation 2,987,935 3,068,765 3,352,152 3,294,786 Economic Environment 1,376,506 1,344,017 1,480,498 2,641,202 Mental and Physical Health 201,819 200,747 202,528 8,485 Culture and Recreation 2,549,418 2,644,631 2,764,356 3,254,427 Capital Outlay 495,403 562,915 427,639 607,810 Debt Service 4,908,326 4,108,275 3,952,989 4,678,024 r TOTAL EXPENDITURES $ 25,242,342 $ 24,827,605 $ 26,495,246 $ 30,438,949 Other Increases(Decreases) (741,968) (524,062) (1,162,606) (154,777) Transfer In/Out, Prior Period Correction 0 0 0 0 FUND BALANCE,JANUARY 1 5,771,636 (a) 6,698,217 7,164,865 6,657,894 r FUND BALANCE, DECEMBER 31 $ 6,698,217 $ 7,164,865 $ 7,651,459 $ 5,758,991 Source: City of Renton Finance Department. (a)Fund balances are restated. 104 City of Renton 1995 CAFR Page 2 of 2 Ten Year General Governmental Fund Balance Trends M $20 I $17.6 $15.9 $12 $18 $14.6 $16 O $14 h S $12 $9. 0 $10 $7.7 f A$O $8 D $6 0 $4 ! $2 r r s 1986 1987 1988 1989 1990 19 1990 1991 1992 1993 1994 1995 $ 24,788,886 $ 27,169,161 $ 32,869,130 $ 31,204,165 $ 30,785,983 $ 33,970,167 853,258 1,156,779 1,258,803 1,145,967 1,310,570 1,236,046 3,083,320 2,948,562 2,892,682 4,297,932 4,998,676 4,343,249 1,290,486 2,099,067 1,610,795 1,437,069 1,543,902 4,818,352 742,446 803,176 884,692 881,016 1,107,779 998,553 0 0 0 0 0 0 ' 2,808,531 3,232,891 3,684,479 2,249,836 2,835,811 3,080,883 $ 33,566,927 $ 37,409,636 $ 43,200,581 $ 41,215,985 $ 42,582,721 $ 48,447,250 $ 5,658,870 $ 5,045,540 $ 5,607,839 $ 5,258,009 $ 5,998,922 $ 7,807,624 11,313,885 12,324,533 13,551,649 15,654,019 17,272,774 17,187,719 790,466 976,822 1,157,112 1,163,369 999,985 1,520,374 3,387,188 2,819,625 3,074,076 2,937,977 3,422,909 4,947,622 3,097,543 3,176,411 2,893,077 3,155,164 3,524,258 3,606,022 8,892 10,601 229,013 8,983 10,755 7,843 3,573,006 4,026,495 4,291,090 4,603,052 4,946,035 5,130,721 1,342,056 541,075 4,793,884 549,412 547,281 494,585 4,303,048 4,270,821 3,947,606 3,554,238 4,289,678 3,347,293 $ 33,474,954 $ 33,191,923 $ 39,545,346 $ 36,884,223 $ 41,012,597 $ 441049;803 213,592 (1,094,487) (357,401) (1,831,265) (335,802) (2,336,448) 0 0 0 106,593 0 (260,482) L5,758,991 6,064,556 8,726,560 12,024,394 14,631,484 15,845,156 $ 6,064,556 $ 9,187,782 $ 12,024,394 $ 14,631,484 $ 15,865,806 $ 17,645,673 s 105 City of Renton 1995 CAFR TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS Page 1 of 2 ' LAST TEN FISCAL YEARS Ten Year Assessed Valuation Trends , B - --- i $4.0 $3.6 I $3.4 $3.4 $3.5 $3.1 $3.1 ' 1 0 $3.0 n $z. $2.5 ;$2 $1.9 $2 O Y. f $2.0 D $1.5 i 0 $1.0 I I a $0.5 , r S $0.0 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 DESCRIPTION 1986 1987 1988 1989 , ASSESSED VALUE DECEMBER 31: Real Property Value $ 1,404,265,400 $ 1,548,554,808 $ 1,579,510,236 $ 1,804,228,971 , Personal Property Value 452,682,766 419,320,421 477,638,324 482,499,763 TOTAL A55ESSED VWLUE' $ 1,856,948,166,, $ 1,967,875,229 $ 2,057,148,560 $ 2,286,728,734 CITY AND OVERLAPPING TAX RATES:(a) City of Renton:General Levy $ 3.03188 $ 3.25902 $ 3.48761 $ 3.41746 City of Renton:Special Levy 0.46501 0.71314 0.40764 0.34177 City of Renton Total $ 3.49689 $ 3.97216 $ 3.89525 $ 3.75923 King County 1.73270 1.83959 1.89387 1.96262 Port of Seattle 0.40091 0.40813 0.43275 0.42940 Hospital District#1 0.26308 0.23723 0.23166 0.21891 Renton School District#403 1.45005 2.28851 2.02323 2.41016 State of Washington 3.69881 3.78389 3.84221 3.74197 Emergency Medical Services 0.25000 0.25000 0.25000 0.24829 TOTAL PROPERTY TAX RATES $ 11.29244, $ 12.77951 $ 12.56897 $ 12.77058 PROPERTY TAX LEVIES AND COLLECTIONS: LEVY: Original $ 6,450,054 $ 7,755,547 $ 7,962,899 $ 8,621,313 Adjusted $ 6,447,924 $ 7,749,926 $ 7,965,967 $ 8,594,394 COLLECTIONS: Current Collections $ 6,236,094 $ 7,490,901 $ 7,705,961 $ 8,347,835 Percent of Adjusted Levy 96.71% 96.66% 96.74% 97.13% Delinquent Collections $ 164,375 $ 210,915 $ 195,246 $ 204,613 TOTAL COLLECTION OF CURRENT&DELINQUENT $ 6,400,469 $ 7,701,816 $ 7,901,207 $ 8,552,448 PERCENT OF ADJUSTED LEVY 9926% 99.38% 99.19% 99.51% OUTSTANDING DELINQUENT TAXES $ 322,811 $ 332,608 $ 396,145 $ 343,787 PERCENT OF DELINQUENT TAXES TO ADJ LEVY 5.01% 4.29% 4.97% 4.00% Source:King County Department of Assessments. ' (a)Property tax rates are in dollars per$1,000 of taxable property valued at 100% (b)Restated for error in reporting for 1993 CAFR. ' 106 City of Renton 1995 CAFR Page 2 of 2 Property Tax Allocation Schools 25.5% Hospital 1.1% Port 2.1% County 16.3% State 24.8% v EMS 1.8% w Ip Renton 28.4% 1990 1991 1992 1993 1994 1995 $ 1,864,385,958 $ 2,425,865,552 $ 2,466,868,427 $ 2,730,285,285 $ 2,756,919,925 $ 2,904,421,288 556,894,507 620 506,587 664,964,302 699,080,839 673,405,117 675,278,785 $ 2,421,280,465 $ 3,046 372,139 $ 3,131,832,729 $, 3,429,366,124 $ 3,430,325,042 , $ 3,579,700,073 $ 3.55659 $ 3.09203 $ 3.28917 $ 3.23416 $ 3.48681 $ 3.55454 0.54768 0.50609 0.40324 0.41577 0.36282 0.36408 $ 4.10427 $ 3.59812 $ 3.69241 $ 3.64993 $ 3.84963 $' 3.91862 2.05464 1.73030 1.79973 2.14039 2.21546 2.25288 L. 0.45367 0.32332 0.34421 0.30518 0.30367 0.29482 0.21743 0.17485 0.17781 0.16238 0.14767 0.15084 2.43657 2.07349 2.13257 3.89165 3.60091 3.52218 4.04611 3.38348 3.54132 3.30069 3.39960 3.41873 0.25000 0.19911 0.25000 0.23942 0.24972 0.24990 $ 13.56269 $ 11.48267 $ 11.93805 $ 13.68964 $ 13.76666 $ 13.80797 $ 9,951,295 $ 10,959,734 $ 11,507,994 $ 12,436,132 $ 13,121,967 $ 13,971,424 $ 9,968,237 $ 10,763,298 $ 11,408,258 $ 12,333,996 $ 12,898,033 $ 13,799,832 $ 9,748,293 $ 10,455,653 $ 11,194,251 $ 11,941,091 $ 12,654,957 $ 13,327,749 97.79% 97.14% 98.12% 96.81% 98.12% o 96.58/o $ 222,135 $ 204,311 $ 284,769 $ 194,799 $ 404,787 $ 323,487 $ 9,970,428 $ 10,659,964 $ 11,479,020 $ 12,135,890 ` $ 13,059,744. $ 13,651,236 100.02% 99.04% 100.62% 98.39% 101.25% 98.92% $ 341,596 $ 444,930 $ 374,168 $ 572,274 $ 410,563 $ 559,159 3.43% 4.13% 3.28% 4.64% 3.18% 4.05% 107 City of Renton 1995 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 Capita Net Bonded Debt Trends $800 $611 $570 $600 k 99 5494 � $482 50 $398 $400 �A $200 $0 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 DEBT SERVICE NET RATIO OF NET NET BONDED FISCAL ASSESSED GROSS FUNDS BONDED BONDED DEBT TO DEBT YEAR POPULATION VALUE BONDED DEBT AVAILABLE DEBT ASSESSED VALUE P€R CAPITA 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 1994 43,970 $ 3,430,325,042 $ 21,160,297 $ 1,373,226 $ 19,787,071 0.58% 450 1995 44,890 $ 3,579,700,073 $ 19,065,569 $ 1,220,234 $ 17,845,335 0.50% 398 Source:State of Washington Office of Program Planning and Fiscal Management, King County Department of Assessments,and City of Renton Finance Department. ' 108 City of Renton 1995 CAFR TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS LAST TEN FISCAL YEARS Special Assessment Billings and Collections 240%- —11 40%- 21z.7% 210%-/ 188% 180% 64.8% 150%-/ 120% 13.9% 1.3% 5% 1% 3.9% 90% 60% 30% 0%-/- 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 ASSESSMENTS COLLECTION ASSESSMENTS FISCAL RECEIVABLE ADDITIONAL ASSESSMENT ------- ---- COLLECTION -------- ASA% RECEIVABLE' YEAR 1/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING 12/31 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 1994 $ 5,110,162 $ 326,364 $ 889,261 $ 685,629 $ 327,520 $ 1,013,149 113.93% $ 4,750,897 1995 $ 4,750,897 $ 124,294 $ 588,009 $ 908,724 $ 342,194 $ 1,250,918 212.74% $ 4,212,282 �r Source:City of Renton Finance Department rr. 109 City of Renton 1995 CAFR ' TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES ' AS OF DECEMBER 31, 1995,AND ALL DEBT CAPACITIES- LAST TEN FISCAL YEARS Ten Year Debt Capacity Trends M i $60 $54.6 $54.4 I $49.3 $47.6....... 0 S $36. , S $40 $34.1 $35.5 $32 .6 oxcess evy f (voted) D $20-/— , $20 $13.6 $1 . $10 a $3.3 55.3,:5" OUr1C men C r $0 $2.3 - (Non-Voted) S $0-/ .�. 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 ' GENERAL CAPACITY SPECIAL PURPOSE CAPACITY PARKS AND UTILITY TOTAL DESCRIPTION COUNCILMANIC EXCESS LEVY OPEN SPACE PURPOSES CAPACITY ASSESSED VALUE(1996): $3,531,201,922 2.50%of Assessed Value $ N/A $ 88,280,048 $ 88,280,048 $ 88,280,048 $ 264,840,144 1.50%of Assessed Value 52,968,029 (52,968,029) N/A N/A 0 STATUTORY DEBT LIMIT $ 52,968,029 $ 35,312,019 $ 88,280,048 $ 88,280;048 $ 2641840,144: General Obligation Bonds $ 10,270,000 $ 5,095,000 $ 3,515,000'$ 0 $ 18,880,000 Installment Contracts(a) 185,569 0 0 0 185,569 TOTAL DEBT OUTSTANDING $ 10,455,569 $ 5,095,000 $ 3,515,000 $ 0 $ 19,065,569 Less Amount Available in Debt Service Funds $ 318,373 $ 389,154 $ 512,707 $ 0 $ 1,220,234 NET DEBT OUTSTANDING $ 101137,196 $ 4,765,846 $ 3,002,293 $ 0 $ 17,845,335 REMAINING DEBT CAPACITY $ 42,830,833 $ 30;606,173 $ 85,277,755 $ 88,280,048 $ 246,994,809' Source:King County Department of Assessments. City of Renton Finance Department. (a)Statutory limit=.75%of 1%of assessed value. 110 City of Renton 1995 CAFR w TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT- DECEMBER 31, 1995 M City of Renton Direct and Overlapping Debt I i $80 0 n Renton$19.1 s $60-1/ Hospital$1.9 10, Count 19 0_ f $40 D Port$4.9t» 0 $20 School$32.2 I 1 a — -- r $0 S a s PERCENTAGE AMOUNT. NET DEBT - APPLICABLE APPLICABLE JURISDICTION OUTSTANDING TORENTON TO RENTON NET DIRECT DEBT: City of Renton $19,065,569 100.00% $19,065,569 OVERLAPPING DEBT: LKing County $658,930,370 2.89% $19,043,088 Port of Seattle $169,180,000 2.89% $4,889,302 Renton School District#403 $58,950,000 54.61% $32,192,595 Hospital District#1 $8,010,000 23.64% $1,893,564 TOTAL DIRECT AND OVERLAPPING DEBT $014,135,939 8.43% $77,084;31:$ . .......................... r Source: King County Department of Finance. 111 City of Renton 1995 CAFR TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS , TO TOTAL GENERAL GOVERNMENT EXPENDITURES-LAST TEN FISCAL YEARS 01a Ten Year Debt Service to Expenditure Ratio Trend r z% 45% 22% , 9% 97° 36° 7% 7% 27% .17% .82% 68 6 6%-J, 3% 0% 86 87 88 89 90 91 92 93 94 95 (b) ,TOTAL GENERAL RATIO OF DEBT FISCAL (a) (a) TOTAL GOVERNMENTAL SERVICE TO YEAR PRINCIPAL INTEREST DEBT SERVICE EXPENDITURES EXPENDITURES 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% 1994 $ 1,614,288 $ 916,353 $ 2,530,641 $ 41,012,597 6.17% 1995 $ 1,720,397 $ 843,051 $ 2,563,448 $ 44,049,803 5.82% (a)Principal and Interest are based on total GO Bond debt payments made in 1995. 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 112 City of Renton 1995 CAFR TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER,AND GOLF SYSTEM BONDS LAST TEN FISCAL YEARS Water/Sewer Revenue Bond Debt Service Coverage z.sa 3-Z .78 - .28 .32 63 25.36 .43 06 .0 � 2 1 0 86 87 88 89 90 91 92 93 94 95 (e} QPEF2ATING NET REVENUE AVERAGEANNUAL FISCAE GROSS EXPENSES AVAILABLE FOR --DEBT SERVICE REQUIREMENTS--- (b) YEAR REVENUE W/O DEPREC. DEBT SERVICE PRINCIPAL INTEREST TOTAL COVERAGE WATER AND SEWER REVENUE BONDS: 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 i� 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 1994 $ 18,266,154 $ 11,500,657 $ 6,765,497 $ 1,390,000 $ 1,614,180 $ 3,004,180 2.25 �+ 1995 $ 20,781,235 $ 13,187,048 $ 7,594,187 $ 1,470,000 $ 1,661,174 $ 3,131,174 2.43 GOLF COURSE REVENUE BONDS(c): 1994 $ 1,319,025 $ 561,028 $ 757,997 $ 227,573 $ 191,761 $ 419,334 1.81 1995 $ 1,483,959 $ 767,283 $ 716,676 $ 227,573 $ 193,554 $ 421,127 1.70 L (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 1.5 times the average annual debt service for Water and Sewer revenue bonds. The Golf System revenue bonds coverage requirement is at least 1.25 times that of respective calendar year's annual debt service. (c)Golf System Revenue Bonds were issued July 1, 1994. Source:City of Renton Finance Department. 113 City of Renton 1995 CAFR ' TABLE 9: CITY OF RENTON 1993, 1994, AND 1995 RETAIL SALES BY SOURCE Changing Sales Tax Composition (1993 vs 1995) ' Auto 1.85% Services -0.19 Construction General Retailing o.1s% ' Wholesale 0.02% 0.15% Food and Restaurants Manufacturing 1.09 Transportation/Utilities -0.06 Finance Other 0. 3% -2.25% -1.5% -0.75% 0% 0.75% 1.5% 2.25% 1993 1994 1995 SOURCE AMOUNT % AMOUNT % AMOUNT %` Auto Dealers $218,888,294 18.6% $236,961,792 20.9% $253,284,313 20.4% ' Services 231,883,527 19.7% 236,880,666 20.9% 241,635,889 19.5% Construction 212,427,829 18.0% 180,473,006 16.0% 198,736,301 16.0% General Retailing 154,632,754 13.1% 139,100,163 12.3% 164,315,072 13.2% , Wholesale 133,766,573 11.3% 127,984,865 11.3% 140,998,453 11.4% Food and Restaurants 89,258,695 7.6% 89,167,591 7.9% 95,767,828 7.7% Manufacturing 85,929,946 7.3% 66,049,495 5.8% 77,867,860 6.3% Transportation/Utilities 38,098,432 3.2% 39,442,142 3.5% 53,667,875 4.3% Finance 9,656,059 0.8% 9,325,745 0.8% 9,364,771 0.8% Other 1 4,874,633 0.4% 5,968,206 0.5% 5,469,554 0.4% ' TOTALS $1,179,416,742 100.0% $1,131,353;671 100.0%i $1,241,107;916 100.0% Source:City of Renton Finance Department 114 ' City of Renton 1995 CAFR TABLE 10: LARGEST TAXPAYERS BASED ON ASSESSED VALUATION AND PRINCIPAL EMPLOYERS ' 1995 REAt PROPERTY PERCENT;OF ASSESSED ASSESSED TAXPAYER TYPE OF BUSINESS VALUATION VALUATION The Boeing Company Aerospace&Computer Services $ 482,884,400 13.49% Puget Sound Power&Light Electric Utility 71,851,353 2.01% PACCAR Heavy Manufacturing 48,439,500 1.35% US West Telephone Utility 36,383,709 1.02% ' Renton Talbot Delaware Inc. Property Development 27,648,100 0.77% Washington One Interests Property Development 20,192,800 0.56% Sunpointe Associates Ltd. Property Development 19,367,200 0.54% Renton Office Realty Property Development 18,010,500 0.50% ' Renton Village Shopping Center 14,905,200 0.42% Lincoln Properties Property Development 10,934,800 0.31% Total Assessed Valuation-Largest Taxpayers $ 750,617,562 20.97% Total Assessed Valuation-All Others 2,829,082,511 79.03% Total Assessed Valuation $ 3,579,700,073 100.00%, 19 >, I NUMBER OF PERCENT OF PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES EMPLOYEES The Boeing Company Aerospace&Computer Services 15,151 43.20% Pacific Car&Foundry Heavy Manufacturing 1,462 4.17% Valley Medical Center Medical Services 1,332 3.80% Federal Aviation Administration Federal Government 1,012 2.89% Renton School District Public Education 633 1.81% City of Renton City Government 621 1.77% Aim Aviation Air Transportation Services 238 0.68% Eagle Hardware&Garden General Merchandise 220 0.63% L Sound Ford Automobile Dealership 217 0.62% Wizards of the Coast Retail-Miscellaneous 206 0.59% Total Number of Employees-Principal Employers 21,092 60.14% Total Number of Employees-All Other Employers 13,977 39.86% Totalmployees f ng Within Renton 35,069 100.006,6 Source: Assessed Valuation:King County Department of Assessments. Assessed Valuation for Largest Taxpayer: King County Department of Assessments. Number of Employees:City of Renton Business License Records, based on fourth quarter information. :.. 115 City of Renton 1995 CAFR TABLE 11: CONSTRUCTION AND BANK DEPOSITS- LAST TEN FISCAL YEARS Ten Year Construction Permit Valuation Trend M ,i 1 $240 210.5 I 1 $210 S17 .9 n $180-Z150.8 g 144 142.1 $150-Z21.7 f $120- 1042 00. ' f 2 D $90 U $60 $30 a r $0 s 86 87 88 89 90 91 92 93 94 95 r COMMERCIAL RESIDENTIAL OTHER ' CONSTRUCTION CONSTRUCTION CONSTRUCTION TOTAL FISCAL NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR TOTAL CONSTRUCTION BANK YEAR PERMITS VALUE :. ,PERMITS VALUE PERMITS VALUE PERMITS VALUE DEPOSITS 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 $ 28,616,096 141 $ 8,136,327 2,954 $ 61,633,205 3,564 $ 98,385,628 $ 833,122,963 1994 123 $ 28,910,641 128 $ 13,465,879 2,978 $ 99,752,007 3,229 $ 142,128,527 $ 842,563,479 1995 127 $ 20,533,293 1 161 $ 25,139,210 1 3,088 $ 76,041,009 1 3,376 $ 121,713,512 $ N/A Source: Construction permits and values-City of Renton Building Department. Bank Deposits-Greater Renton Chamber of Commerce. Note: Starting in 1994,commercial and residential construction includes building and demolition permits only. Other construction includes ' plumbing,electrical, mechanical,sign and other permits. 116 City of Renton 1995 CAFR ' TABLE 12: DEMOGRAPHIC STATISTICS - LAST TEN FISCAL YEARS ' P Ten Year Population Trends 0 p ' u I a t 50 9 i 43 3.1 3.5 44 3W8.5 9. n n 40 5 5.4 9 o n 30 T h 20 0 u s 10 ICr. a n d 0 s 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 PER FISCAL CAPITA MEDIAN SCHOOL UNEMPLOYMENT r YEAR POPULATION INCOME AGE ENROLLMENT RATE 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% 1994 43,970 N/A N/A 11,984 4.90% 1995 44,890 N/A N/A 12,173 5.70% Ir, 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 Security,Labor Market and Economic Analysis Department. ,�, 117 City of Renton 1995 CAFR TABLE 13: MISCELLANEOUS STATISTICS WASHINGTON STATE British Columbia Everett Spokane ®Seattle . eRenton Idaho y ®Olympia I- _ 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.......................................................................17.2 Square Miles Miles of Streets and alleys................................................................191.59 RANK IN SIZE-STATE OF WASHINGTON..............................................11 RANK IN SIZE-KING COUNTY...................................................................4 UTILITY SERVICES POPULATION(Official April,1995)......................................................44,890 Water: ASSESSED VALUATION.........................................................3,579,700,073 Total Customers...............................................................................12,676 CITY EMPLOYEES(Full Time Equivalents/FTE)..................................540.6 Total Gallons of Water Produced.........................................2,471,240,000 Number of Fire Hydrants....................................................................2,349 Miles of Water Main............................................................................230.8 ELECTION&VOTER REGISTRATION Numberof Precincts................................................................................66 Sanitary Sewer: Number of Registered Voters...........................................................22,364 Total Customers...............................................................................10,610 .., FIRE PROTECTION Fire Rating(Washington Survey and Rating Bureau)...............................4 Storm Drainage: Number of Commissioned Fire Fighting Personnel................................97 Number of Accounts.........................................................................11,174 Number of Stations(includes Dist#25).....................................................4 Miles of Storm Sewers......................................................................168.48 Total Fire Loss..........................................................................$1,889,231 Number of Life Support Responses...................................................4,922 LICENSE&PERMITS AllOther Responses..........................................................................1,978 Business Licenses..............................................................................3,081 Total Number of Responses..............................................................6,900 Amusement and Special Permits..........................................................260 Animal Licenses(Dog and Cat)..........................................................2,817 POLICE PROTECTION Number of Commissioned Police Personnel..........................................82 AIRPORT Number of Calls for Services...........................................................47,945 Area in acres....................................................................................167.21 Total Crimes Reported(Class I,11,III)................................................9,507 Feet of Asphaltic Concrete Runway...................................................5,379 Traffic Accidents Investigated............................................................1,790 Total Operations.............................................................................140,558 All Other Traffic Violations..................................................................9,464 LIBRARY PARKS&RECREATION Libraries(Main and Highlands Branch).....................................................2 Total Acreage.....................................................................................1,050 Total Registered Borrowers..............................................................10,208 Number of Parks and Playgrounds.........................................................26 Total Circulation..............................................................................273,430 118