HomeMy WebLinkAbout2001 CAFRCity of Renton
2001
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended December 31, 2001
Victoria A. Runkle
Finance & Information Services Administrator
l 055 South Grady Way
Renton, Washington 98055
(425) 430-6858
Website: www.ci.renton.wa.us
Acknowledgements
Prepared by the City of Renton Finance Division
Finance & Information Services Administrator
Victoria A Runkle
Fiscal Services Director
Paul Kusakabe
Accounting Manager
Gina L. Jarvis
Accounting Staff
Linda Dixon
Norma Kuhn
Nancy Violante
Administrative Secretary II
DeAnna Fricke
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TABLE OF CONTENTS
DECEMBER 31, 2001
PAGE
INTRODUCTORY SECTION
Letter of Transmittal ............................................................................................................................ l
2000 Comprehensive Annual Financial Report Award .............................................................. 15
Corporate Organization Structure & Reporting Relations .......................................................... 16
FINANCIAL SECTION
Independent Auditor's Report ........................................................................................................ 17
General Purpose Financial Statements ......................................................................................... 19
Combined Financial Statements:
Combined Balance Sheet-All Fund Types and Account Groups ........................................ 20
Combined Statement of Revenues, Expenditures and Changes in Fund
Balances for All Governmental Fund Types ......................................................................... 22
Combined Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual .................................................................................................................. 23
Combined Statement of Revenues, Expenses and Changes in Fund
Equity -All Proprietary Fund Types ......................................................................................... 27
Combined Statement of Cash Flows All Proprietary Fund Types ........................................ 28
Firemen's Pension Trust Fund Statement of Changes in Plan Net Assets .............................. 30
Notes to Financial Statements:
Note l : Significant Accounting Policies ............................................................................. 31
Reporting Entity .................................................................................................... 31
Basis of Presentation -Fund Accounting .......................................................... 31
Basis of Accounting ............................................................................................. 33
Budgets and Budgetary Accounting ................................................................ 34
Assets, Liabilities and Fund Equity ...................................................................... 35
Cash and Cash Equivalents ............................................................................ 35
lnvestments ........................................................................................................ 35
Inventories .......................................................................................................... 35
Property Taxes Receivable .............................................................................. 35
Assessments Receivable .................................................................................. 36
Fixed Assets and Depreciation ........................................................................ 36
Accumulated Unpaid Vacation and Sick Pay ............................................. 37
Fund Equity -ReseNes & Designations ........................................................... 38
Direct Charges/Credits to Enterprise Funds Retained Earnings .................. 38
Risk Management and Risk Retention ........................................................... 38
Note 2: Stewardship, Compliance and Accountability .................................................. 38
Note 3: Cash & lnvestments ................................................................................................ 38
Note4: Deferred Compensation ........................................................................................ 39
Note 5: Receivables and Payables .................................................................................... 40
Note6: Residual Equity and Operating Transfers ............................................................. 42
Note 7: Fixed Assets .............................................................................................................. 43
Note 8: Prepaid ltems ........................................................................................................... 45
Note9: Joint Venture ............................................................................................................ 45
Note 10: Pension Plan & Other Postemployment Benefits ................................................ 49
PERS ........................................................................................................................ 49
LEOFF ..................................................................................................................... 50
Firemen's Pension ................................................................................................ 50
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TABLE OF CONTENTS
DECEMBER 31, 2001
PAGE
Note 11: Construction Commitments .................................................................................. 53
Note 12: Long-Term Debt and Capital Leases ................................................................... 53
Note 13: Deferred Charges in Proprietary Funds ................................................................ 59
Note 14: Reservations and Designations of Fund Equity ................................................... 59
Note 15: Segment Information for Enterprise Funds ........................................................... 60
Note 16: Litigation ................................................................................................................... 60
Note 17: Risk Management ................................................................................................... 60
Note 18: Subsequent Events .................................................................................................. 62
Combining Financial Statements and Schedules of
Individual Funds and Account Groups:
General Fund:
General Fund Description ....................................................................................................... 63
Comparative Balance Sheet ................................................................................................. 64
Statement of Revenues, Expenditures and Changes in Fund Balance ........................... 65
Statement of Revenues. Expenditures and Changes in Fund Balance
Budget and Actual .............................................................................................................. 66
Special Revenue Funds:
Special Revenue Fund Descriptions ...................................................................................... 6 7
Combining Balance Sheet ..................................................................................................... 68
Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..... 70
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual ............................................................................................................. 72
Debt Service Funds:
Debt Service Fund Descriptions .............................................................................................. 79
Combining Balance Sheet ..................................................................................................... 80
Combining Statement of Revenues. Expenditures and Changes in Fund Balances ..... 82
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual .............................................................................................................. 84
Capital Project Funds:
Capital Project Fund Descriptions .......................................................................................... 91
Combining Balance Sheet ..................................................................................................... 92
Combining Statement of Revenues. Expenditures and Changes in Fund Balances ..... 94
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual .............................................................................................................. 96
Enterprise Funds:
Enterprise Fund Descriptions ................................................................................................. 103
Combining Balance Sheet ................................................................................................... 104
Combining Statement of Revenues. Expenses and Changes in Fund Equity ............... 106
Combining Statement of Cash Flows .................................................................................. 108
Internal Service Funds:
Internal Service Fund Descriptions ....................................................................................... 113
Combining Balance Sheet ................................................................................................... 114
Combining Statement of Revenues, Expenses and Changes in Fund Equity ............... 115
Combining Statement of Cash Flows .................................................................................. 116
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DECEMBER 31, 2001
PAGE
Fiduciary Funds:
Fiduciary Fund Descriptions ................................................................................................. 117
Combining Balance Sheet ................................................................................................... 118
Combining Statement of Changes in Assets and Liabilities All Agency Funds ............. 119
Firemen's Pension Trust Fund -Statement of Plan Net Assets .......................................... 120
Firemen's Pension Trust Fund -Statement of Changes in Plan Net Assets ..................... 121
General Fixed Assets Account Group:
General Fixed Assets Account Group Description ............................................................ 123
Comparative Balance Sheet ............................................................................................... 124
Schedule of General Fixed Assets by Source ..................................................................... 125
Schedule of General Fixed Assets by Function and Activity ............................................ 126
Schedule of Changes in General Fixed Assets by Function and Activity ....................... 126
General Long-Term Debt Account Group:
General Long-Term Debt Account Group Description ..................................................... 127
Comparative Balance Sheet ............................................................................................... 128
STATISTICAL SECTION
Statistical Section Description ................................................................................................... 129
Table 1 : General Government Revenues & Expenditures -Last Ten Fiscal Years ........ 130
Table 2: Assessed Value, Property Tax Rates, Levies and Collections
Last Ten Fiscal Years ............................................................................................... 132
Table 3: Ratio of Net General Obligation Debt to Assessed Value
& Net Bonded Debt per Capita Last Ten Fiscal Years .................................... 134
Table 4: Special Assessment Billings and Collections -Last Ten Fiscal Years ................ 135
Table 5: Computation of Legal Debt Margin -December 31, 2001 .............................. 136
Table6: Computation of Direct and Overlapping Debt-December 31, 2001 ........... 137
Table 7: General Obligation Bonds/Expenditure Ratio -Last Ten Fiscal Years ............. 138
Table 8: Revenue Bond Coverage -Last Ten Fiscal Years .............................................. 139
Table 9: Retail Sales by Source -Last Five Fiscal Years .................................................... 140
Table 10: Largest Taxpayers and Principal Employers ........................................................ 141
Table 11: Construction Permits-Last Ten Fiscal Years ....................................................... 142
Table 12: Demographic Statistics -Last Ten Fiscal Years ................................................... 144
Table 13: Miscellaneous Statistics .......................................................................................... 145
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Jesse 'fanner, Mayor
June 13, 2002
Honorable Jesse Tanner, Mayor
Members of the Renton City Council
City of Renton
1055 South Grady Way
Renton, Washington 98055
CITY OF RENTON
Finance & Information Services Department
Victoria A. Runkle, Administrator
TRANSMITTAL OF THE 2001 COMPREHENSIVE ANNUAL FINANCIAL REPORT
Dear Mayor and Council Members:
With this letter the Finance & Information Services Department transmits a copy of
Renton's Comprehensive Annual Financial Report for the City's centennial year ending
December 31 , 200 l . We received an unqualified audit report from the State Auditor's
office for 2001. As always, an unqualified audit report demonstrates that city
employees, with the oversight and guidance from the Finance Department, continue
to regard the management and accounting of Renton's financial and fiscal assets as
one of their highest priorities.
I In general, this report describes the financial results of the City's operations and the
general financial condition as of December 31. 200 l . The Comprehensive Annual
Financial Report (CAFR) has three significant uses. First. it provides taxpayers and
citizens a broad overview of the City's finances. Second, rating agencies and
interested bond buyers use this report to evaluate the City's fiscal and financial health
and creditworthiness. Finally, the CAFR is a series of audited financial statements.
These statements have all been analyzed by the State Auditor's Office to ensure the
City's funds are safeguarded and the City is expending them as they were legally
appropriated.
Introduction
The Finance and Information Services Department (FIS) is responsible for the
Management Representation of the contents of this report. FIS is charged with
responsibility for the accuracy, completeness and fairness of presentation of
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 must be and is prepared in accordance with the requirements of
Washington State Law RCW 43.09.230 and in conformance with Generally Accepted
Accounting Principles (GAAP). The Government Accounting Standards Board (GASB)
has established GAAP rules to compare the fiscal health and spending patterns of
various public entities to one another. By following these guidelines. we ensure the
report contains required elements that are clearly understood by users of detailed
financial information.
One of the first requirements is to ensure the report contains the CAFR Contents. Thus,
the report is organized in three sections:
• The Introductory Section, which includes the Letter of Transmittal, the
2000 Comprehensive Annual Financial Report Award and the City's
Corporate Organization Structure and Reporting Relations.
• The Financial Section, which includes an Independent Auditor's Report
and the Combined Financial Statements and accompanying note
disclosures, followed by the 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 results of operations for the City.
• The Statistical Section, which presents financial, economic, social and
demographic data about the City. The Statistical Section is useful in
revealing trends that have and may continue to affect the City of
Renton.
The GASB also requires the reporting organization to define the 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 revenue or general obligations
of the City; and obligations of the City to finance any deficits that may occur; or
receipt of significant subsidies from the City.
The City of Renton is a participant in a consortium known as the Valley
Communications Center. This is to provide consolidated emergency dispatch services
for the cities of Federal Way, Auburn, Kent, Tukwila and Renton as owners. Many other
fire, police and emergency operations also contract with the Center for the same
services. The owner cities share a portion of support to the Center, based on the
numbers of service calls provided to each entity. The Valley Communications Center is
reported in the City's financial statements as a joint venture.
This report does not include the financial position or operational results for the Renton
Housing Authority. The City neither reviews their budget, nor is obligated to fund any of
the deficits of the Authority.
The City of Renton is responsible for providing basic life and safety services through our
police, fire and building departments. The City provides a wide range of recreational
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opportunities. It operates its own library system, manages two lake swimming areas,
offers classes in its community and senior centers and provides a range of leisure
activities in its l, 180 acres of active and passive parks. The City provides water to all
citizens through its own system of aquifers, wells and from Cedar River water rights. As
an adjunct to the water system, the City collects all sewer and surface water waste
within the City and then transports that to the region-wide treatment system. Renton
manages general maintenance and development of the city streets. It owns and
operates a golf course and airport. In general. the City of Renton is a full service city,
offering all of the services a large city has, but on a livable scale.
Governmental Structure, Economic Condition and Outlook
The City of Renton was incorporated in 190 l. Located at the south end of Lake
Washington, our city borders the City of Seattle to the north. We currently have a land
area of 16.90 square miles. We have l, 180 acres of parks that includes 26 active parks.
Our 200 l population as presented by the Washington State Office of Financial
Management is 51, 140.
The City of Renton has a strong Mayor form of government. The Mayor is
independently elected for a four-year term. His job is to manage and implement the
policies established by the City Council. We have a seven member Council that
establishes policies, appropriates monies through the budget process and adopts local
laws through ordinances. Each Council Member serves a four-year term and they are
elected on a staggered two-year cycle. Both the Council and the Mayor are elected
on a non-partisan basis.
II While the City has had a very aggressive and successful economic development
program, The Boeing Company continues to be our largest employer. As illustrated
later, the City of Renton is less dependent upon Boeing for our overall economic
health, but nonetheless, they still have a significant influence within the City. Boeing
builds the 737 and the 757 airplanes within our City limits. In 2001. they produced 344
planes at the Renton plant. The Boeing 737 Commercial Aircraft Headquarters is within
our city limits. Boeing also has its Customer Service Training Center (CSTC) located
here. At the CSTC, The Boeing Company trains pilots from all over the world in how to
fly a Boeing aircraft in large flight simulators.
While we are most proud of being the home of the most popular airplane in the world,
we also began -almost a decade ago -an aggressive economic development
program. Our dependence on Boeing's economic health had provided significant
economic swings in the past. Over the past years, other major businesses growing or
relocating within our boundaries include: Wizards of the Coast and Multiple Zones. In
addition to these major corporations, we have also added significantly to our retail
base with the location of an IKEA, Wal Mart and other major new retail and food stores.
We are currently working with Target and Frye's Electronics in putting together their
building plans.
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In addition to the overall employment and economic growth, we are seeing substantial
increases in our assessed valuation and housing growth. Between 2000 and 2001 our
overall assessed valuation grew by 10.4 percent. This included over $230 million in new
construction within the City limits. Further, to illustrate we have diversified our economy,
Boeing now owns only 14.7 percent of our overall assessed value. This is 12.0 percent
lower than 2000. Thus, the overall growth in our assessed value is coming from other
properties.
A total of l,048 homes sold within the city limits in 2001. This is almost the identical
number sold in 2000. The median price of homes in Renton grew by 15 percent. This
includes the sale of 38 homes valued at $400,000 or more, as compared to 30 homes in
this price range during 2000.
In 2001, total Boeing employment averaged 400 fewer employees during 2001 over
2000. Renton's total employment decreased by 212 employees -from 45,785 to 45,573.
Thus, the overall employment in other sectors increased.
Our retail sales tax base showed signs of slowing in 2001. However, we collected
approximately $15.35 million in sales tax. This was 2.5 percent higher than 2000. We
had been seeing double digit increases prior to 2001. We expect that our growth will
continue to slow through 2002, but we do not expect a negative growth rate.
In late 2000 and throughout 2001, the City's construction permits began to grow again
for residential and commercial properties. This growth will take some time to translate
into economic growth for our city. As illustrated in our major initiatives, we continue our ili:E:l
efforts in economic development. In 2001, our total new building permit revenue was 1111
$1.4 million. We issued 4,756 permits -this was 2.5 percent more than 2000. However,
most of the permits were for single family homes. The city issued 737 residential home
permits and 446 of these were for single homes.
Major Initiatives
Each spring the Council and Mayor meet for two days to clearly articulate the focus of
new initiatives for both the current year and the following five years. These initiatives,
also known as Business Goals and Strategies, are used to guide workload priorities in the
current year and budget priorities for the following years. Further, over the past five
years since we have used this method of prioritization, the initiatives have remained
rather consistent. This process has resulted in measurable successes in 2001 and
dictates what we will be working on in 2002 and 2003. Finally, to guarantee success,
the Council and Mayor limit these initiatives to five. Outlined below are the City's five
goals in 2001 and the success strategy for each one.
Encourage and Support Economic Development and Downtown Redevelopment, We
had great success in 2001 in these areas. By the end of our l00th anniversary we had
over 250 new, high end apartments in our downtown core. Three new small restaurants
were opened A regional transit center opened in our downtown core. We approved
a bond issue to build a parking garage to the north of the transit center.
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Further, the new Performing Arts Center was started to the west of the new garage. This
major facility will be a part of the renovation of one of the region's oldest high schools -
Renton High School. The Performing Arts Center has over one million in private sector
donations.
At the south end of Lake Washington, there are now over l ,000 new multi-family
housing units. These include both apartments and condominiums. Throughout 2001, a
major development company continued building a major residential and commercial
complex. The development known as Southport will include over 350 residential units, a
hotel and 550,000 square feet of commercial and retail space, The City will be able to
complete a major trail system and connect our Lake Washington bike/path trail to our
Cedar River trail once the development is complete. By the end of 2001 the
apartments were constructed and commercial space was being leased.
Encourage and Support Neighborhood Revitalization, The most significant strategy
within this initiative is a multi-year effort. Over the years the neighborhood known as the
Highlands has emerged as an area that has great redevelopment potential. It is one of
Renton's oldest areas with housing that was built during World War II to house aircraft
workers. As the name implies, the area is elevated from the rest of the City and has
some amazing views. It also has large areas of property that can be redeveloped for
retail and housing uses.
In 2001, the City set aside $1.fi million in our capital fund to invest in identified
infrastructure as a match for redevelopment in that area. The City also acquired a
shopping area of approximately one acre for the construction of a replacement Fire
Station in the neighborhood. The current fire station is over 35 years old, and does not
provide an enhancement to the neighborhood, Once Fire Station 12 is completed, it
will be a showcase building. Further, it will be the home of the City's Emergency
Operations Center. We also completed the replacement of the Highlands Community
Center in late 2000 and 200 l. This Center now provides athletic and young activities for
over 500 children.
In addition, the City continues to allocate over $50,000 annually for small neighborhood
grants. Neighborhood associations apply for these grants which must be matched with
"sweat equity." In 2001, there were over 37 grants given for a total of $50,000.
Promote the City's Image in the Community and Region. In 2001, we completed the
third year of a comprehensive marketing plan with the School District, Renton Technical
College, the Hospital District and the Chamber. This plan resulted in the development
of a marketing slogan, consistent marketing materials and most importantly, a
consistent theme. The results have been that when a business or developer contacts
any agency about information about Renton, we are ensuring they receive a
professional package of information about all the assets in our city. We believe this has
generated more interest in being a part of our City as we have experienced more and
more growth. We measure our success by the fact our neighboring cities started
campaigns in late 2000 and in 2001.
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Meet the Service Demands that Contribute to the Livability of the Community. Under
this goal we measure our productivity efforts. The City continued its Performance
Outcomes efforts in 200 l . This included surveys of citizens in the Fire and Police
Departments. It also included an Electronic Government Survey of citizens requesting
their interests in getting things from the City's WEB site. Finally, it included working on
linking the budget to outcomes. The City sees this as a five year initiative, but is
beginning to be able to link resources to services.
Influence Regional Decisions that Impact the City. The region faced many property
tax initiatives in 2001. One property tax initiative -known as Initiative 747 -limits
property tax levy increases to one percent in the following year, plus new construction.
While this will impact the City by 2005 and 2006, it began to immediately translate into
serious issues for the County. The City began to work on various issues in 2001 regarding
the impacts. The City began to review long term options for jail services with other
counties. We developed strategies for the City's reaction to the County's interest in
wanting to close all parks and pools and transfer responsibility. This will continue to be a
major initiative for 2002 and beyond.
Financial Information, Management and Control
A detailed understanding of the financial position and operating results of the City is
provided in the CAFR. Presented below is a brief description of financial information,
management of financial resources and obligations and control techniques applicable
to financial resources, obligations and information.
Basis of Accounting. The basis of accounting used determines when revenue and iil'
expenditures or expenses are recognized in the accounts and reported in the financial 111!1
statements. All governmental funds and expendable trust funds are accounted for
using the modified accrual basis of accounting. Revenue is recognized when
measurable and available. Expenditures are generally recognized under the modified
accrual basis of accounting when the related fund liability is incurred. All proprietary
funds and non-expendabl€ trust funds and pension trust funds are accounted for using
the accrual basis of accounting. Under this basis of accounting, revenue is recognized
when earned and expenses are recognized when incurred.
Accounting Systems and Budgetary Control. One of the City's primary functions is
ensuring the highest level possible of internal accounting controls. The Finance and
Information Services Department, working with all other departments, develops
accounting procedures, policies and organization to focus on the safeguarding of all
the City's assets and the reliability of financial records. The procedures, policies and
organization provide reasonable assurance that:
• Transactions are ex-ecuted in accordance with management's general or
specific authorization.
• Transactions are recorded as necessary (1) to permit preparation of
financial statements in conformity with generally accepted accounting
principles or any other criteria, such as finance-related legal and
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contractual compliance requirements applicable to such statements and
(2) to maintain accountability for assets.
• Access to assets is permitted only in accordance with management's
authorization.
• The recorded accountability for assets is compared with the existing assets
at reasonable intervals and appropriate action is taken with respect to any
differences.
The definition of accounting control incorporates reasonable, but not absolute
assurance that the objectives expressed in it will be accomplished by the system. The
concept of reasonable assurance recognizes that the cost of internal control should
not exceed the benefits to be derived. The benefits consist of reductions in the risk of
failing to achieve the objectives implicit in the definition of accounting control.
Within the City of Renton we believe all our internal accounting controls adequately
safeguard assets and provide reasonable assurance of proper recording of financial
transactions. The Washington State Auditor's Office (SAO) and the laws of Washington
State establish budgeting and accounting rules known as the Budgeting, Accounting
and Reporting System (BARS). The City is annually audited by the SAO to ensure we are
in compliance with the system. Budgetary control is maintained at the department
level by the encumbrance of estimated purchase amounts before the release of
purchase orders to vendors. The City has not had an experience where a department
encumbers more than it has appropriated. If an unanticipated need arises, the Mayor,
Finance Department and department return to the City Council for additional
appropriation authority. Open encumbrances are reviewed at the end of the year.
They are either closed as the purchase is no longer valid, or they are reported as
reservations of fund balances as of December 31, 200 l .
The City receives resources from other State and Federal agencies under a variety of
programs. Resources received from the State and Federal government are subject to
various specified controls and compliance standards. The SAO annually reviews these
expenditures for compliance. Monies received from the Federal government are also
subject to audit according to standards established by the Single Audit Act and 1996
Amendments and related OMB Circular A-133. Both State and Federal grants require
the City design, implement and monitor an internal control structure that satisfies each
grant. Further, the City is also audited by the Washington State Department of
Revenue to ensure compliance with various tax laws. Any audit reports prepared
separately than the annual SAO audit is not included in the Comprehensive Annual
Financial Report, but can be provided upon request. The City has had no material
findings in any other audit.
Fund Descriptions
The accounts of the City are organized on the basis of funds and account groups,
each of which is considered a separate accounting entity. The operation of each fund
is accounted for by a separate set of self-balancing accounts that comprise its assets,
liabilities and fund equity, revenue as applicable, expenditures and expenses. The
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individual funds account for the governmental resources allocated to them for the
purpose of continuing specific activities in accordance with special regulations,
restrictions or limitations. The funds used by the City are grouped into the following fund
types.
Governmental Funds, Governmental funds are used to account for the programs and
activities of the governmental functions of the City.
General Fund: The General Fund serves as the general fund. In this fund we
account for all the costs of public safety, building, planning, human services, general
administration and all other activities and financial resources except those required to
be accounted for in another fund.
Special Revenue Funds: Special Revenue Funds are used to account for the
proceeds of specific revenue sources that are legally restricted to expenditures for
specified purposes. We have special revenue funds for our parks, library and street
activities, as well as several other activities. The City also allocates general
governmental revenue, such as property tax, to these funds to help offset the costs of
these activities.
Debt Service Funds: Debt Service Funds are used to account for the resources
devoted to the payment of interest and principal on long-term capital obligation debt
other than those payable from specific governmental funds and Enterprise Funds.
Capital Projects Funds: Capital Projects Funds are used to account for financial
resources to be used for the acquisition or construction of major capital facilities (other Ii
than those financed by Enterprise Funds).
Proprietary Funds. Proprietary funds are used to account for ongoing organizations and
activities that are similar to those found in the private sector.
Enterprise Funds: Enterprise Funds are used to account for operations that are
financed and operated in a manner similar to private business enterprises. The intent is
that costs (expenses, including amortization and depreciation) of providing goods or
services to the general public on a continuing basis be financed or recovered primarily
through user charges.
Internal Service Funds: Internal Service Funds are used to account for the
financing of goods or services provided by one department or agency to other
departments or agencies of the governmental unit, or to other governmental units, on
a cost reimbursement basis.
Fiduciary Funds. Fiduciary funds are used to account for assets held by a
governmental unit in a trustee capacity or as an agent for individuals, private
organizations and other governmental units and funds.
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Trust and Agency Funds: Trust and Agency funds are used to account for assets
held by Expendable Trust Funds, Pension Trust Funds and Agency Funds.
Account Groups. In addition to the several generic funds described above, the City
uses account groups to establish accounting control and accountability for the City's
general fixed assets and general long-term debt. The two account groups are
described below:
General Fixed Assets Account Group: The General Fixed Assets Account Group
is used to account for all fixed assets of the City other than those accounted for in
proprietary funds and certain fiduciary funds.
General Long Term Debt Account Group: The General Long Term Debt Account
Group is used to account for all long-term debt of the City except debt accounted for
in specific governmental funds. proprietary funds and certain fiduciary funds.
General Government Functions. These are general municipal activities and services.
The activities include, but are not limited to, public safety, parks. library, building,
planning, courts, legal. debt costs and general administration. Within these funds are
the capital funds.
General Fund: In 2001, we collected $3.9 million more in revenue than we
expended. This increase came primarily from utility taxes and charges for services. We
continue to see building related fees much higher than we anticipated. We had a one
year premium from what was occurring in the electric and gas industry throughout
2001.
REVENUE 2001 2000
Taxes $31,482,675 $29,822,126
Licenses And Permits 2, 110,600 2,568,757
Intergovernmental Revenue l ,966, 122 2, 156,609
Charges For Services 4,196,915 4,129,214
Fines And Forfeits 944,671 974,273
Contributions 101,783 36, 193
Interest l,208,435 l ,318,783
Miscellaneous Revenue 158,530 64,258
TOTAL REVENUE $42, 169,731 $41,070,213
Expenditures from the General Fund amounted to $38,265,536 as of December 31,
200 l. This was 4.2 percent above 2000 levels. In our operating budget labor costs are
the main driver of cost increases. The expenditures were as follows:
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EXPENDITURES 2001 2000
Current:
General Government $ 8,977,920 $ 8,512,651
Security Of Persons And Property 23,596,319 22,861,304
Physical Environment 1,878,916 l ,769,012
Economic Environment 3,487,376 3,345,054
Mental And Physical Health 6,756 8,599
Culture and Recreation 177,039 25,370
Capital Outlay 141,210 194,351
Debt Service:
Principal Retirement 0 0
Interest & Fiscal Charges 0 0
TOTAL EXPENDITURES $38 ,265 ,536 $36,716,341
Special Revenue Funds: The Park, Library and Street Funds provide the next level
of general services after the General Fund. Also, in this fund type is the Hotel/Motel
Fund used for our marketing work.
Debt Service Funds: With the exception of revenue bonds and other debt issued
by Enterprise Funds, long-term debt is serviced through these types of funds. During
2001, the City collected $2.9 million dollars in property taxes and $304,000 from
assessments for the payment of $3. l million dollars in debt service annual requirements.
The City issued $6 million in new debt in 2001 for the construction of a parking garage. I
The debt was issued as Limited Tax General Obligation Bonds.
Capital Project Funds: The City has seven funds for capital improvements. In
2001, the City began construction of a downtown parking garage. In the Capital
Improvement Funds the City tracks all transportation capital improvements, park and
general improvements. The most significant expenditure in 2001 occurred in the Fire
Mitigation Fund. The City purchased two pieces of property for the construction of fire
stations. One is for a replacement station in the Highlands neighborhood. The second
was in the Kennydale neighborhood. The City does not need a fire station there at this
time. However, as the City continues to grow denser along the lakefront, we will need
to build and staff a fire station in that neighborhood within seven to ten years.
Proprietary Operations. Within these funds the activities the City provides are operated
similar to a private function. The fees must cover the program costs and other revenue
earned. The City owns and operates its own water utility. We do not purchase water
from the City of Seattle like many of our neighbors. This one fund is the largest of all the
proprietary funds. Further, this fund must cover the costs of all its capital requirements.
The building of the water infrastructure is the one area that changes the most
dramatically from year to year, depending on environmental requirements.
10
Enterprise Funds: The Water Utility Fund had an operating income of $1.986
million dollars at the end of the year. Because of this cash surplus and the fact that
environmental requirements have added complexity to general project construction,
we did not have to borrow any funds in 2001 to meet the fund's capital requirements.
The City had no rate increases in 2001. Renton residents are also charged a monthly
fee from King County for their costs in providing regional water treatment. The City is
responsible for billing and collecting this fee for King County.
The Airport had few fiscal issues in 2001. During the year, the Airport management
focused completely on a citizen review of its long term operating plan. The Renton
Airport is the home of every 737 and 757 maiden flight. In addition to that, we have
many leases with small airplane owners. However, the airport sits in a prime location at
the south end of Lake Washington and is surrounded by single family homes. In 2001,
the City began a review of a 20 year strategic plan for the site. It ended with a
decision that as long as Boeing remains in our City, we will continue to operate the
Airport basically the way it is today.
In 2001, the City completed its first year in a new contract with a third party vendor for
curbside collection of solid waste, yard waste and recycling. The City had expected
the new contract would require a five percent increase. However, as the year
progressed, we chose to use fund equity to cover any shortages. We ended the year
with a fund equity of over $900,000. We did increase rates by five percent in 2002.
However, we did shift responsibilities back onto the contractor in this new contract, and
we are seeing a more stable revenue and expenditure stream now.
Ii The Maplewood Golf Course continues to exceed expectations. In 2001, the
operations earned approximately $455,000 more than expenses. There were 600 more
rounds of golf sold. The income from the rental of golf and pull carts is a growing line of
business that generated over $195 ,000 in 2001.
Internal Service Funds: These funds are used to track the City's costs of certain
activities. The Equipment Rental fund tracks the costs of maintaining the City's rolling
stock. The City self-insures its employees basic health, dental and industrial insurance
costs. In addition to these costs, the Insurance Fund also pays for all liability claims up
to a maximum of $250,000. If a claim is above this limit, the City has purchased various
insurance coverages from independent brokers to cover such claims.
In 2001, the City continued its focus on building reserves in the Equipment Rental and
Insurance funds. We are building reserves in Equipment Rental to ensure the timely
replacement of large rolling stock. We estimate that each year we spend $850,000 to
$1,000.000 for regular cars and trucks. Each third year this amount will increase by
$350,000 to $750,000 to purchase one or two large pieces of rolling stock.
11
In 2001, we spent $1,000,000 on capital equipment. This included our normal purchase
of ten police car replacements and other standard stock. In late 2001, we purchased
a new police SWAT vehicle.
The Equipment Rental fund ended the year with $3 million in cash reserves for future
replacements.
The City is a participant in the Washington Cities Insurance Authority 0NCIA). As stated
earlier we have property and liability insurance with them. The City self-funds our
routine health, dental and medication expenditures. In 2001, we began to see health
care costs increase. Our first priority is to ensure those costs are met prior to adding any
new programs. Finally, in 2001, the Mayor and Council prudently set aside an
additional $2. l million into the Insurance Fund as addition to our Rainy Day reseNe. We
began to see the economy slowing, and they wanted to make certain we had cash to
address any short term issues, if the economy entered a recession. At the end of the
year, we had a $5.2 million fund equity.
Fiduciary Fund Types. In the City of Renton these funds include the Firemen's Pension
Fund, Special Deposit Fund, and Payroll Clearing Fund.
Firemen's Pension Fund: This fund must be maintained by the City to pay the
retirement benefits for all fire officers who were employed prior to 1977. The City ended
the year with over $8 million in assets to cover future costs. An actuarial study is
conducted to determine the future needs of this fund. The City is in the process of
updating the biennial actuarial study. However, the last study noted we would need
less than $6 million for call costs. These investments are now invested in Federal
Treasury instruments.
Special Deposit Fund: This is a holding fund for deposits and other special
revenue. When the obligations of the receipts have been made, we release the
monies. It is a small impact on our overall operations.
Payroll Clearing Fund: This fund is used to account for payroll liabilities
outstanding at various times during a payroll cycle.
Debt Administration. The ratio of net tax-supported bonded debt to assessed valuation
and net tax-supported bonded debt per capita are useful indicators of the City's debt
position. A comparison of these ratios follows.
2001
Net tax supported bonded debt $27,586,389
Net tax supported bonded debt per capita $539
Net tax supported bonded debt as a .54%
percentage of assessed valuation.
12
2000
$22.248,983
$461
.49%
The City's latest bond issues were rated as follows:
General Obligation Bonds (200 l)
Water/Sewer Revenue Bonds (1998)
MOODY'S
N/A
Al
FITCH
AAA
A+
STANDARD &
POOR'S
AAA
A+
Cash Management and Investments. The City has an adopted Cash and Investments
policy that states the primary objectives of cash and investment management in
priority order are safety, liquidity and return on investment. As of December 31, 2001
Renton had $73,792,677 in cash and investments.
Risk Management. In late 1998 the City significantly changed its insurance strategy by
joining the Washington Cities Insurance Authority (WCIA). The WCIA is a consortium of
Washington State cities that purchases excess coverage in large blocks, thus
leveraging the market. It has a professional staff, but is provided monthly oversight by
a board made up of City representatives. In most cases the City has a deductible that
ranges from $25,000 to a maximum of $250,000. In addition, the City purchases excess
medical coverage from Safeco; and life and disability insurance from UNUM.
Independent Audit
The financial records, books of accounts and transactions of the City and its
components for the fiscal year ended December 31 , 200 l , have been audited by the
State of Washington Auditor's Office (SAO) as mandated by State law. Their opinion is 1\1 included in the Financial Section of this report,
The financial statements are the responsibility of the City, The responsibility of the SAO is
to express an opinion on the City's financial statements based on their audit. An audit
is conducted in accordance with generally accepted auditing standards. Those
standards require that the audit be planned and performed in a manner to obtain a
reasonable assurance as to whether the financial statements are free of material
misstatement.
Awards
The Governmental Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to
the City for its Comprehensive Annual Financial Report for the fiscal year ended
December 31, 2000.
In order to be awarded a Certificate of Excellence, a governmental unit must publish
an easily readable and efficiently organized Comprehensive Annual Financial Report,
the contents of which conform to program standards. Such reports must satisfy both
generally accepted accounting principles and applicable legal requirements.
13
A Certificate of Excellence is valid for a period of one year only. We believe our
current report continues to conform to the Certificate of Excellence Program
requirements and we are submitting it to GFOA to determine its eligibility for another
certificate.
Responsibility and Acknowledgement
The Finance and Information Services Department prepared the Comprehensive
Annual Financial Report for the fiscal year ended December 31, 2001. We believe that
the information presented is accurate in all material respects and that this report fairly
presents the financial position and results of operations of the various funds and
account groups of the City.
The preparation of the Comprehensive Annual Financial Report results in the document
here before you. However, without the dedication of staff both in the Finance Division
and throughout all departments of the City, this Report would not be possible. The
Report is completed in a timely manner by the Finance Division staff, led by Gina Jarvis,
the City's Accountant with her staff, Linda Dixon and Nancy Violante. DeAnna Fricke,
the department's administrative lead, is charged with organizing the document for
printing. I would like to express my appreciation, in particular, to my staff and then to
all personnel throughout City Hall that ensure our financial records are maintained
appropriately, timely and accurately every day of the year. Also, I would like to thank
the Mayor and City Council for their continued interest and support in the financial
operations of the City.
Respectfully submitted,
Victoria A Runkle
Finance & Information Services Administrator
14
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Renton,
Washington
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2000
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
A.ssoclatlon of frie United States and Car:ada to
goverr:ment units and public err,ployee re1iremer:t
sy'Stems whose comprehensive an.r;ual financial
reports (CAFRs} achieve the highest
standards in gover:1ment accounting
and financial reporting.
cY~de~
j)ff:;:/k
Execut'.ve Directc:
15
H
H
4
CITY OF RENTON
CORPORATE ORGANIZATION STRUCTURE
RENTON CITIZ~
'
CITY COUNCIL MAYOR MUNICPAL COURT JUDGE
Torn Neiron . R'oodenl_ Kathy Koolker·Whoo!er, ~Ta1rl€1 Terry Jura'.Jo
Tern [}1ere. Dai OaMJ:m, fUldy Ccrmm, 425 431Hl5()0 425 430}1550
K,ngftr'.><:er, & Donl'\Jf®n 425 430..£501
I
CHIEF A.OM!NISfRATIVE OFACER
,bf Covmg!on
425 430--6500
COMMUNITY SERVICES Pl.ANN ING; BUI LOIN GI ECONOMIC DEV, NSGHBORHOODS, ADMINISTRATIVE, JUDICIAL &
Jm Siephad_ AdmirnSHa:or >--PUBLIC WORKS & STRATEGIC PLANNING f--LEGAL SERVICES
425 430-6600 Grll\I) Zimmerrmri. Admirnstrator &ie Cairon, AdmmtS:raor 425 430-£500
425 430·7394 425 430.£560
Fa:lli!ies I [)a.elopmem Slrv1teS I i Eoo!lOffilC Da>iaklpmenl I H M~or·sOf!ice I Dermis Culp, O.redor Niel Wii1s.. Director Alexaider Rets::h, Director Dera<: Todd
-'~ I Tr~r;t1on £¥,terns I H Neigtibofhoods I d Ci!y ClerklCii:lle Mm<'g<.¥ I 9,rlviaAllen, Di1ector SniraMeyer, Director Ebnn;e W<iton
' '""' I U1ility ~stems I ~ 9:raegc Rammg I ! Court S:irv1ros I LOOie Bl!la::h, Director LysHornfty. Director
H
..be McGwre. Director
Llbray I
Manten;:ru;:e SJrv,oas I Hea-mg Ex;ynmer I Clai<. ~0f9illl, Dirndor .m. Crumley, Direclor Frnd Krutmrn
Humai So/Vices I i Crty Attorney I Kaeo Masia1 Waren Eab& fi::intes P.S
roucE ARE HUMAN RESOURCES & ANANCE &
Gmy Am:li:!rron_ Ct\!ei ~ A Lee Wfleeier_ Chief RISK MANAGEMENT INFORMATION SERVICES -425 430·7507 425 430·7501 Micha'J! WOO!:Iy, Admnuslraor Vidon.a~nkle, Adrn!rnS'ntor
425 430-7650 425 430--6il58
OperiiionstS;pport I y o"""''~ I y Rill< Maia;iement I H Rs:<i Si!vices I ~R:ix!'i-~iyCh1ei Ar: La:ron_ Deputy Fire Chief Pali Ku~ Director
y H Humifl Resources I H intorma1ori &o/VteeS I H Altro! Operttions i &!ppre$cn I 1 I 4 Rio1 & Mal OP"•-1 CNd SirvK:e Comm1g,i0!'1
H Pitre: &irv<CeS I ~ Adrn1rnsr<iron/$Jppo1 &¥vices I
Glen O:m.too. Depu!y Rie c:t11ef
H I I !~ig;t<0r.s
H T1;irnflgfuppoli I ""~ ~ Ad11w11strat1ve S;.rv;ces I I foe R"evreiion I
I 9.iit SYv:ces
I &n&~~;~t I
Awnhay~ !
!
16
INDEPENDENT AUDITOR'S REPORT
June 13. 2002
The Honorable Mayor and City Council
City of Renton
Renton, Washington
We have audited the accompanying financial statements of the City of Renton, King County, Washington. as of and
for the year ended December 31, 2001, 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 audtting standards generally accepted in the United States of America.
Those standards require that we plan and perfonn the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management. as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinion.
Our audit was perfonned 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 lo the
City's general purpose financial statements taken as a whole.
In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the
financial position of !he City of Renton, King County, Washington, as of December 31, 2001, and the results of its
operations and cash flows of its proprietary fund types for the year then ended in confonnity with accounting
principles generally accepted in the United States of America.
Our audit was made for the purpose of fanning an opinion on the general purpose financial statements taken as a
whole. The combining, individual fund, and account group financial statements and schedules listed in the table of
contents are presented for purposes of additional analysis and are not a required part of the general purpose financial
statements of the City of Renton, King County. Washington. Such information has been subjected to the auditing
procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all
matelia! respects, in relation to the 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.
Sincerely,
BRIAN SONNTAG, CGFM
STA TE AUDITOR
"
THIS PAGE INTENTIONALLY LEFT BLANK
18
GENERAL PURPOSE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
The General Purpose Financial Statements are the combined financial statements that,
together with the accompanying notes, constitute the minimum financial reporting
needed for fair presentation in conformity with Generally Accepted Accounting
Principles.
19
COMBINED BALANCE SHEET -ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 2001
WiTH COMPARAT!VE TOTALS FOR DECEMBER 31. 2000
(PAGE 1 OF 2)
GOVERNMENTAL FUND TYPES
ASSETS:
Cash and Cash Equivalents -Note ,}
Cash \Nith Fiscal Agent
Investments at Fair Value -Note 3
Receivables. Ner of Aiiowonce for Uncollectibies-Note 5·
Due From Other Funds Note 5
Due From Other Governmental Units -Note 5
Inventory of Material and Supplies -Note 1
Prepaid Items -Note 8
Investment !n Joint Venture Note 9
Restncted Assets:
Deposits
Revenue Bond Debr SeNice
Construction Account
interfund loans/ Advances -Non-Current -Note 5
Note Receivable -Non-Current -Note 5
Fixed Assets (Net) -Note 1 & 7
Construction in Progress Note 7
Deferred Charges and Other Assets Note 13
Avoilabie in Debt Service & Capita: Project Funds
Amount To Be Provided long Term Debt Retirement
TOT AL ASSETS
UABiUTIES, EQUITY AND OTHER CREDITS
UABIUTIES
Vouchers/Contracts Payable
Retainoge Payable
Due To Other Funds -Note 5
Due To Other Governmental Units Note 5
Payables -Note 5
Deferred Revenues
Liabilities Payable from Restricted Assets·
Deposits Payable
Capitol Leases Payable-Current-Note 12
Revenue Bonds Payable -Current Portion-Note 12
Deposits Payable
General Obligation Bonds Payable -Note 12
s
s
s
Special Assessment Debt With Government Commitment-Note
Revenue Bonds Payable -Note 12
Unamortized Discounts on Revenue Bond
Accrued Employee Leave Benefits -Note 1 & 12
lntertund Loans/ Advances Non-Current~ Note 5
Claims incurred But Not 1<eported -Note 17
Capitol leases Payable -Note 12
!nstaliment Purchase Contracts -Note 12
Public \.Yorks Trust Fund Loon Payable Note 12
TOT Al LiABILITiES
FUND EQUITY AND OTHER CREDITS:
Fund Balance
Reserved -Note 1 & 14
Unreserved -Designated ~ Note 14
Unreserved -Undesignoted
Contributed Capitol
Retained Earnings·
Reserved Note 1 & 14
Unreserved
!nvestments in Joint Venture/General Fixed Assets
TOTAL FUND EQUITY AND OTHER CREDiTS
GENERAL
6,562,612 s
0
753,059
4,621,692
7,378
162,705
0
8.000
0
0
0
0
75.000
0
0
0
0
0
0
12.19Q446 $
672,565 $
0
104,827
1,332,776
2,921
3.077.534
0
0
0
44,299
0
0
0
0
209,156
0
0
0
0
0
5.444D78
318,053
130,391
6,297,924
0
0
0
0
SPECIAL
REVENUE
5,400.249 $
0
0
87,092
23,524
61,038
0
0
0
0
0
0
0
0
0
0
0
0
0
DEBT
SERVICE
2,475.267
292.0CJO
0
733.628
52,496
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5571903 $ =="'"5"53,..30.,.1=
460.278 $
0
0
0
7.005
0
0
0
0
23,200
0
0
0
c
68,399
75,000
0
0
0
0
633.882
0
0
4.938,02 i
0
0
0
0
0 s
0
0
0
292.000
715.262
0
0
0
0
0
0
0
0
0
0
0
0
c
0
1,007,262
2,546, 129
0
0
0
0
0
0
6,746,368 4.938.021 2546, 129
CAP:TAL
PROJECTS
29.755,393
0
0
193,584
52,332
1,491.081
0
0
0
0
0
0
920.000
0
0
0
0
0
0
32412390
L079,407
298,951
22,147
0
38204
0
0
0
0
0
0
0
0
0
0
920.000
0
0
0
0
2,358,709
920.000
0
29. 133,681
0
0
Q
0
30,053,681
TOTAL LIAB!LIT!ES, EQUITY AND OTHER CRED!TS s 12 19Q 446 $ ==:!5:.5='=' '"90"3'= 3 553 39' $ =='3"2"4"'12,...190"'=
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
20
s
s
s
COMBINED BALANCE SHEET~ ALL FUND NPES AND ACCOUNT GROUPS
DECEMBER3l,2001
VJITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000
(PAGE 2 OF 2)
PPOPRiETARY FUND TYPES FIDUCiARY ACCOUNT GROUPS
ENTERPRiSE:
6,1309D90
0
0
4.738,830
0
949.172
358,300
0
0
25.439
4,674,028
0
0
0
165.455959
4,969,384
94,464
0
0
188Q74666 s
l, 185,408
308,254
8,755
504,807
400,718
152,246
100,298
38,418
2.030,000
0
0
0
21,040.000
(1.238, 150)
407,153
0
0
7238
0
7.389.550
32,334,695
0
0
0
116,224,690
8,624.119
30,891,162
0
155.739,971
188074666 s
lNTERNAL
SERVICE
l ,825,525 $
0
LY9L800
1 18,555
0
0
105, 40
3,000
0
0
0
0
0
0
4.814,126
0
0
0
0
14 858 146 $
88,475 s
0
0
0
3,113
0
0
0
58,316
0
0
0
0
39,098
0
1509,544
0
0
0
1,698,546
0
0
0
2282,377
0
10,877223
0
13,159,600
14 858 146 s
TRUST
AND AGENCY
L3L16.207 $
0
6,174,008
1.135.261
0
0
G
0
0
0
0
0
0
0
0
0
0
0
0
8655476 $
0 s
0
0
0
33
0
0
0
0
434,991
0
0
0
0
0
0
0
0
0
0
435,024
8220,452
0
0
0
0
0
GENERAL
FIXED ASSETS
0
0
0
0
0
0
0
0
4,087.259
0
0
0
0
0
125,475,631,
4,699.243
0
0
0
p,4 262 133 s
0 s
0
0
c
0
c
0
c
0
0
0
c
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0 34.262. 33
8.220.452 34.262, 33
8 655 476 $ ==3=4=2=62""'3"'3"
GENERAL LONG
TERM DEBT
0 s
0
0
c
0
0
0
0
0
0
0
0
0
0
0
0
0
2,546,129
3Ll03J73
33 649 902 s
0
0
0
0
0
0
0
0
0
29,095,583
l35JJOO
0
0
4,225,611
0
0
0
l93J08
0
33.649,902
0
0
0
0
0
0
0
0
}3 649 902 s
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMEN1
21
COMPARATIVE TOTALS
(MEMORANDUM ONLY)
2001 2000
C.0,174,343
292.0'JJ
8,918.867
11,628,642
135.730
2,663.996
463,440
11.000
4.087.259
25,439
4,674,028
0
995,000
0
295.745,716
9,668.627
94,464
2,546,129
31,103.773
433 228 453 $
3.486,133 s
607205
135.729
1 .837,583
743,994
3,945,042
100,298
38,418
2,030,000
560,806
29,095,583
135.000
21,040,000
(l,238,150)
4,949,417
995.000
1.509.544
7.238
193.708
7,389,550
77 .562,098
12,004.634
130391
40,369,626
118.507 ,067
8,624,119
41,768,385
134.262, 133
355.666.355
4'<3 228 453 s
22,025)71
391,000
41,061,196
11,094,808
289,113
2.569,032
490.543
11.000
2,546,163
120,946
4.99L315
1,260,390
1,255,000
21,041
280,300,075
8,327,186
48Jl00
2,653,495
26,236,595
405 692 669
3,089.255
398.850
289,112
2,401,372
823,878
3,680,387
160,569
40.954
l950DOO
333,849
24,126,908
320,000
23,070,000
(l ,412,476)
4,923,199
1,255,000
1 }61.,964
45,656
218,830
8,009,825
75,487,132
11,0l 1,388
132529
35,361,809
110,644,755
l0922D88
35.423, 152
126,709.816
330 .206 ,53 7
405-692 669
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR ALL GOVERNMENTAL FUND TYPES
REVENUES
Taxes
Licenses And Permits
Intergovernmental Revenues
Charges For Services
Fines And Forfeits
lntertund i\'evenues
Special /\ssessments
contributions
Interest
Misceiloneous Revenues
TOTAL REVENUES
EXPENDITURES
Current:
General Government
Security Of Persons And Property
Physical Environment
Transportation
Economic Environment
Mental And Physical Health
Culture and Recreation
Capital Outlay
DebtSeNiCe
Principe! Retirement
Interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANC!NG SOURCES (USES)
Proceeds Of Long~Terrr, Debt
Operating Transfers in
Operating Transfers (Out)
Saie Of Genera! Fixed J\ssets
Funds Remitted to Bond Trustee
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (OEF!ClENCV) OF REVENUES
YEAR ENDED DECEMBER 31, 2001
WITH COMPARAT!VE TOTALS FOR DECEMBER 3L 2000
(PAGE 1 OF 1)
GENERAL
s 31,482.675 s
2, 110,600
1.966.122
4, 196.915
944,671
0
0
101,783
1,208,435
158,530
42,169]31
8,977.920
23,596,319
1,878.916
0
3,487,376
6.756
177 D39
141,210
0
0
38.265,536
3,904,195
0
0
(5,550,000)
55,168
0
(5,494,832)
GOVERNMENTAL FUND TYPES
SPECIAL
REVENUE
14,431,447 $
40,568
L357,694
1,631,534
34,046
0
0
15,406
235,070
510,847
18256.612
2.084,978
0
0
5,545,590
990.159
0
7.083,039
34,992
0
0
15,738,758
2,517,854
75,000
63.085
(l,6i6,700)
517
0
DEBT
SERVICE
2,888.502 $
0
0
0
0
0
303.939
0
201,515
0
3.393,956
0
0
0
0
0
0
0
0
2,086,447
1.003.044
3.089.491
304,465
14,029,950
77,650
(710,000)
0
(13,809.431)
(411.831)
CAP.ITN..
PROJECTS
1,323,782 $
1.967,436
2.466,742
1.481,529
0
103,800
0
74,688
658,732
610.711
8,&37.420
128.716
0
0
8.330,168
9,052
0
0
5.200.619
0
203,231
13,871.786
(5, 184,366)
5,947,691
6,710.209
(996,594)
6,000
0
11,667,306
AND OTHER FiNANCING SOURCES OVER -----
EXPENDITURES AND OTHER FINANCING (J,' (i ,590.637) 1,039,756 (107,366) 6.482,940
FUND BALANCE JANUARY 1
Residual Equity Transfers In
Residuai Equity Transfers Out
FUND BALANCE DECEMBER 31 $
8,337,005
0
0
6746368 $
3,898.265
c
0
4.938 021 $
2,653.495
0
0
2546129 $
23,570,741
0
0
30053681 $
THE ACCOMPANYING NOTES ARE AN INTEGl?AL PAl?T OF THIS STATEMENT
22
COMPARATIVE TOTALS
(11/E."JiOl~ANDUM ONLY)
2001
50,126.406 s
4, ll8.604
5,790,558
7,309.978
978,717
103,800
303,939
191,877
2.303,752
L280,088
72.507.719
l 1.19L614
23,596.319
1.878.916
13.875,758
4.486,587
6.756
7.260.078
5.376,821
2.086.447
1.206.275
70,965.571
L542.148
20,052.641
6,850,944
(8,873.294)
61,685
(13 ,809 ,431)
4.282,545
5,824,693
38,459,506
0
0
44 ?84 199 $
?000
47.862.401
4.557,9)4
6,900,296
7,&14,827
1,008,098
0
377,858
63,592
2,974,528
712.081
72,301,595
10.857,922
22,861.304
1.769,012
10,320,719
4,335.946
8,599
6,602.437
7.446,775
2.481,025
1208.281
67,892,020
4.409.575
0
3,647,561
(3,662,809)
l,040,404
0
l ,025, 156
5,434,731
33,024,775
955,000
(955,000)
38-459 506
Ill
COMBINED STATEMENT OF REVENUES, EXPENDITURES
A.ND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
VEAR ENDED DECEMBER 31,2001
WITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 2000
(PAGE l OF 4)
GENERAL FUND
BUDGET ACTUAL
REVENUES
Taxes s 31,600,824 s 31 ,425,590 s
Ucenses And Permits 1,518,800 2,058,472
lntergovernmentai Revenues 1,706,000 l,899,550
Charges For Services 3,790,550 4,149,310
Fines And Forfeits 789,600 959,047
Specia\ Assessments 0 0
Contributions 15,000 101,783
interest 918,000 1,491]89
Miscellaneous Revenues 24,000 157,877
TOTAL ·i<EVENUES 40.362.774 42,243.418
EXPENDITURES
Current·
Genera\ Government 9.468.064 8,979,435
Security Of Persons And Property 24,250, 184 23,569.864
Physical Environment 1,947,827 1.878,956
Transportation 0 0
Economic Environment 3,882,905 3.485,129
Mentai And Physical Health J0,500 6,756
Cuiture and Recreation l2L630 176,966
Capital Outlay 139]95 140,554
Debt Service
Principal Retirement 0 0
Interest & Fiscal Charges 0 0
TOTAL EXPENDITURES 39,820,905 38237.660
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 541.869 4,005.758
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt 0 0
lnterfund Loon Proceeds 0 0
!nterfund loan Repayments 0 0
Operating Transfers In 0 0
Operating Transfers (Out) (5,500,000) (5,550,000)
Sale Of Generoi Fixed Assets 0 55.168
TOTAL OTHER FINANCING SOURCES (USES) (5,500,000) C5A94,832)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANC\NG USES (4.958.13)) (1.489 .07 4)
FUND BALANCE JANUARY 1 7,744.589 7,744,589
Residual Equity Transfers In 0 0
Residual Equity Trori.sfers (Out) 0 0
FUND BALANCE DECEMBER 31 s ? 786 458 $ 62"§§1§ s
THE ACCOMPANY/NG NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
23
VARIANCE
FAVORABLE
<UNFAVORABLE>
(175234)
539,672
193,550
358,760
169,447
0
86,783
573,789
133,877
1,880,644
488,629
680,320
68,871
0
397 ,776
3,744
(55,336)
(759)
0
0
1,583245
3,463,889
0
0
0
0
(50,000)
55.168
5,'168
},469,057
0
0
0
3 469 Qf7
COMBINED STATEMENT OF REVENUES. EXPENDITURES
AND CHANGES IN FUND BAlANCES, BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 2001
Vv'ITH COMPARATIVE ACTUAL TOTALS FOR YEAR ENDED DECE!'v'iBER 31 2000
(PAGE 2 OF 4)
SPECIAL REVENUE FUND TYPES
REVENUES
Taxes
Licenses And Permits
lntergovemmentoi Revenues
Charges For Services
flnes And Forfeits
Special Assessments
Contributions
Interest
Miscellaneous Revenues
TOTAL REVENUES
EXPENDITURES
Current·
General Government
Security Of Persons And Property
Physical Environment
Transportation
Economic Environment
Mental And Physical Health
Culture and Recreation
Coprta! Outlay
Debt Service·
Principal Retirement
Interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FiNANClNG SOURCES (USES)
Proceeds Of Long-Term Debt
lnterfund Loan Proceeds
!nterfund Loon Repayments
Operating T ronsfers in
Operating Transfers (Out)
Saie OT General Fixed Assets
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEF!CiENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY l
Residual Equity Transfers ln
Residua! Equity Transfers (Out)
FUND BALANCE DECEMBER 31 s
BUDGET ACTUAL
12.444.786 14,431.447
20,000 39,610
1,340,575 1,342,848
1,566,290 1,635.696
27,500 34.046
0 D
1.000 15,406
148,300 J59,745
485,000 490,091
16.033.451 18,148,889
2, 190,867 2,085,311
0 0
0 0
5,853,876 5,544,364
1,067,893 990,345
0 0
7,268,662 7,086,090
106.100 34,992
0 0
0 0
16,487,398 15,741.102
(453,947) 2,407,787
0 75,000
0 0
0 0
63,100 63,085
(1,603,500) (l,6i6,700}
0 517
(1.540,400) (1,478.098)
(1,994,347) 9-29,689
3,851,128 3,851,128
0 0
0 0
11222 7~1 47§Qa17
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
24
VARIANCE
FAVORABLE
<UNFAVORABLE>
$ 1,986,661
19,610
2.273
69.406
6,546
0
14.406
11.445
5.091
2,115,438
105,556
0
0
309,512
77.548
0
182,572
71.108
0
0
746,296
2,861,734
75,000
0
0
(15)
(13.200)
517
62,302
2.924.036
0
0
0
$ 2 9,4 03Q
a
$
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL SPECIAL REVENUE, DEBT SERVICE,
AND CAPITAL PROJECTS FUND TYPES
YEAR ENDED DECEMBER 31, 2001
\}JITH COMPARATIVE ACTUAL TOTALS FOR YEAR E~~DED DECEMBER 31 2000
(PAGE 3 OF 4)
DEBT SERVICE FUND NPES CAPITAL PROJECTS FUND TYPES
VAR!ANCE VAR!ANCE
FAVORABLE FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> BUDGET ACTUAL <UNFAVORABLE>
2.527,715 s 2,963,100 s 435,385 s 1,250,000 $ 1.398,393 s 148,393
0 0 0 2,0-00,[)f'J) l,967,436 (32,564)
0 0 0 2,409.24 1 2.886,705 477,464
0 0 0 975,000 L516.532 541,532
0 0 0 0 0 0
309,657 333,056 23,399 0 0 0
0 0 0 0 74,688 74,688
98,911 172.908 73,997 425.000 759,489 334.489
0 0 0 427,100 583,606 156.506
2.936,283 3,469,064 532,781 7,486,341 9,186,849 1.700,508
c 0 0 180,000 128.716 51,284
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 12,990,063 8,340.965 4,649,098
0 0 0 50,000 9,052 40,948
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 16,350,585 5.184255 11 166,330
J ,786.448 2,086,447 (299,999) 0 0 0
1,119273 783,317 335,956 G 9"9A31 (99.43"1)
2,905,721 2,869,764 35,957 29,570,648 13,762.419 15,808229
30,562 599,300 568,738 (22,084.307) (4,575,570) 17 .508,737
0 793 793 0 5,947.691 5,947.691
0 0 0 547, 100 363,800 (183.300)
0 0 0 (247' 100) (363,800) (116,700)
77.650 77.650 0 6,705,127 6,710,209 5,082
(710.00J) (710,000) 0 ( 1,891 .627) (996.594) 895,033
0 0 0 350,000 6,()00 (344,000)
(632,35-0) (63 l ,557) 793 5,463.500 l l .667 ,306 6203.806
(601,788) (32257) 569,531 (16.620.807) 7,091,736 23]12,543
2,489,812 2,489,812 0 21,046,101 21,046,101 0
0 0 0 0 0 0
0 0 0 0 0 0
1 88B 024 s 2 457 5~§ s 569 §;}1 $ 4 425 294 s 2~ 1~7 837 s 2~ 712 "'4;.1i
THE ACCOMPANYING NOTES AllE AN INTEGllAL PART OF THIS STATEMENT
25
COMBINED STATEMENT OF PEVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES, BUDGET AND ACTUAL
GENERAL SPECIAL REVENUE, DEBT SERV!CE,
AND CAPITAL PROJECTS FUND TYPES
VEAR ENDED DECEMBER 31, 2001
WITH COtv1PARATIVE ACTUAL TOTALS FOR YEAR ENDED DECEMBER 31, 2000
(PAGE 4 OF 4)
COMPAi(ATiVE TOTALS
(MEMORANDUM ONLY)
VARIANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes s 47 ,823,325 s 50,218,530 s 2,395205 s 47.827,013
Licenses And Permits 3,538,800 4,065,518 526,718 4.562,892
Intergovernmental Revenues 5.455,8i6 6.129,103 673287 6.793.084
Charges For Services 6,331,840 7_301,538 969,698 7,805.409
Fines And Forfeits 817.100 993,093 175,993 937,689
Special Assessments 309,657 333,056 23.399 352,648
Contributions 16,000 19i,877 175,877 64,092
Interest 1,590,211 2,583,931 993,720 2.307,978
Miscellaneous Revenues 936,100 1,231,574 295,474 727.465
TOTAL REVENUES 66,818,849 73,048220 6229,371 71,378.270
EXPENDITURES
Current:
General Government 11,838931 11,193.462 645,469 10,858,538
Security Of Persons And Property 2.:1,250.184 23,569,864 680,320 22,889,748
Physical Environment 1,947,827 1,878,956 68,871 L769h42
Transportation 18,843,939 13,885,329 4,958,610 10,330.362 ~'
Economic Environment 5,000.798 4,484,526 516,272 4.337.239
Mental And Physical Health 10,500 6,756 3.744 8599
Culture and Recreation 7,390,292 7.263.056 127.236 6,606,662
Capitol Outlay 16,596.480 5,359,801 11.236,679 7.450.837
Debt Service:
Principai Retirement l ,786,448 2,086,447 (299,999) 2,48 L026
Interest & Fiscal Charges 1,119.273 882,748 236,525 1,205.281 &I TOTAL EXPENDITURES 88,784.672 70,610,945 18.173,727 67.937 ,934
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (21.965,823) 2,437275 24,403.098 3,440.336
OTHER FINANCING SOURCES (USES)
Proceeds Of Long~Terrn Debt 0 6,023.484 6.023.484 0
lnterfund Loan Proceeds 547,lOG 363,SCD (183,300) 823,000
lnterfund Loan Repayments (247, JOO) {363,800) (116.700) (823.000)
Operating Transfers In 6,845,877 6,850,944 5,067 3,694,498
Operating Transfers (Out) (9,705,127) (8,873294) 83i,833 (3,662,809)
Sale Of General Fixed Assets 350.CDO 61.685 (288,315) 1A03h88
TOTAL OTHEf.( FINANCING SOURCES (USES) (2.209,250) 4,062,819 6.272.069 1,435,377
EXCESS (DEF!C!ENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FiNANC!NG USES {24. 175,073) 6,500,094 30.675.167 4,875.713
FUND BALANCE JANUARY l 35,131,630 35, 131,630 0 30,255,917
Residua! Equity Transfers In 0 0 0 955,000
Residual Equity Transfers (Out) 0 0 0 (955,000)
FUND BALANCE DECEMBER 31 $ JO 95Q G:27 $ 41 631 724 s 1Q Q7~ 167 s 1:21~1Q30
" THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
26
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 200i
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 1)
PROP Rt ET ARY FUND TYPES COMPARATIVE TOTALS
OPERATING REVENUES:
Charges for Services
:oxes
Other Operating Revenue
TOTAL OPERATING REVENUE
OPERATING EXPENSES:
Operations and Maintenance
Benefit Payments
Professional Services
Administrative and General
Insurance
Taxes
Depreciation
TOTAL OPERATING EXPENSES
OPERATING INCOME (LOSS)
NON-OPERATING REVENUE (EXPENSE):
Interest Revenue
Goin (Loss) on Sale of Assets
Other Non-operating Revenue (Expense)
Interest Expense
Amortization of Debt DtScount and Expense
NON-OPERATING REVENUE NET OF EXPENSES
INCOME (LOSS) BEFORE OPERATING TRANSFERS
Operating Transfers In (Out)
NET INCOME CLOSS)
Depreciation Reducing Grant Contributed Capital
INCREASE (DECREASE) IN RETAINED EARNINGS
RETAINED EARN!NGS, JANUARY 1
RETAINED EARNINGS, DECEMBER 31
CONTRIBUTED CAPITAL JANUARY 1
Capitol Grants
Amortization on Capital Grants
Other Contributed Capital
CONTRIBUTED CAPITAL DECEMBER 31
FUND EQUITY, DECEMBER 31 s
s
ENTERPRISE
31.869238
0
1,414.961
33284,199
22,093.930
0
0
2,002,546
18.000
2,826,387
4248,310
31,189.173
594237
1,398
129.330
(1.354,657)
(77,166)
(706-858)
1,388,168
(77 ,650)
1,310.518
167.010
1.477 ,528
38,037,753
39515281
108,362.378
634,243
(167,010)
7,395,079
116224,690
155.7:'19 971 $
INTERNAL
SERVICE
9,850, i22
0
0
9,850, 122
1,386,562
6.050,784
402,684
495, 172
426S31
0
337.773
(43.671)
82,715
0
0
376.817
469.736
2,100,000
2.569.736
0
8,307,487
10.877223
2282,377
0
0
s
(MEMORANDUM ONLY)
2001 2000
41,719360
0
1.414,961
43.134,321
23,480,492
6,050.784
402,684
2,497,718
444,931
2,826,387
5,243,380
40.946,376
2, 187.945
932.010
(42273)
212,045
(1,354.657)
(77.166)
(330,041)
2.022,350
3.880,254
167.010
4.047,264
46-345.240
50,392-504
110.644,755
634.243
(167,010)
7.395,079
118.507.067
41,848,418
75,000
22,340.769
4,464, 119
349,043
2.424,537
418.964
2,930,181
4,674.398
37.602,011
5,938.708
1.500, 144
142.782
163,i84
(1,482.023)
(80,472)
243,615
6.182.323
15248
6,197.571
171,356
6,368,927
39,976,313
46.345240
104.300.185
128,087
(171,356)
6,387,839
110,644,155
13 159 600 s =='6.,e.,a,.99,.-.,s.,1,.1= 156 989 995
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
27
COMBINED STATEMENT OF CASH FLOWS -ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 2001
Vv'ITH COMPARATIVE TOTALS FOR DECE.MBER 31, 2000
(PAGE 1OF2)
PROPR!ETARY FUND TYPES COMPARATIVE TOTALS
INTERNAL (MEMORANDUM ONLY)
ENTERPRISE SERVICE 2001 2000
CASH FLO\AJS FROM OPERATING ACT!VIT!ES
Cash Received From Customers s 30.781,170 s 0 s 30.781,170 s 31.009.998
Cash Received From Other Funds for Goods and Services 399,652 9,908,848 10,308,500 9.750,850
Cash Payrr,ents to Suppliers tor Goods and SeNices (17 .436,238) (8,060,448) (25,496.686) (23.043,761)
Cash Paid to Other Funds for Goods and Services (3.535.884) (4$5.797) (4,021.681) (4,140.390)
Cash Paid to Ernployees (4.050201) (522.803) (4,573,!Yv4) (4.363.888)
Cash Paid for Taxes (1,691,312) 0 (l,691,312) (1.788.619)
Other Operating Rece1-pts 1,414,961 0 1,414,961 1,692.301
Other Non-Operating Receipts 161,088 83,591 244.679 247,867
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 6.043,236 923.391 6.966.627 9.364.358
CASH FLOWS FROM NONCAPiTAL FINANCING ACT!VIT!ES'
Operating Transfers From Other Funds 0 2,i00,000 2, 100.000 92,898
Operating T ronsters To Other Funds (77 .650) 0 (77.650) (77.650)
NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVIT (77 ,650) 2,100.000 2,022,350 iS,248
CASH FLOWS FROM CAPITAL FINANCING ACTIV!TiES·
Proceeds From Sale of Equipment 24,672 (43,671) (l 8,999) 164.456
Acquisition and Construction of Capital Assets (15.099,529) (913,526) (16.013.055) (12,125,5-38)
Capitoi Contributions 7,395,079 0 7,395,079 6,387,839
Capitol Grants 53,030 0 53.030 110,090
Principal Payments on Bonds (1.990,954) 0 (l,990,954) (l ,795,666)
Interest Payments on Bonds (l ,341.732) 0 (1,34 l. 732) < 1,5 l 0,382)
Payments on State Long-Term Loons (821,592) 0 (821,592) (445,048)
NET CASH PROVIDED (USED) BY CAPITAL F!NANCiNG ACTIVITIES (11.781.026) (957, 197) (12.738.223) (9,214,249)
CASH FLOWS FROM lNVEST!NG ACTIViTIES·
Proceeds From Sole of Investments 4.897.748 9,060275 13,958,023 4,400,000
Payments for Investments (817.434) (6.064,876) (6.882.310) (3 ,689 ,600)
ii interest on Investments 629, 103 464,979 1,094,082 l ,365,700
NET CASH PROVIDED (USED) BY !NVEST!NG ACTIVITIES 4.709,417 3,460,378 8, 169.795 2,076,100
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,106,023) 5,526.572 4,420.549 2241.457
CASH AND CASH EQUIVALENTS, JANUARY 1 12.614,580 2,298,953 l4,913,533 12,672,076
CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 115Qa~"i7 $ 7 ~2~ ~:;;;2 s 19 ~~4 Q~2 $ 14 21~ :2~~
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivalents 6.809,090 s 7.825.525 s 14,634.615 8,629,499
Cash Restricted for:
Deposits 25,439 0 25.439 32.329
Revenue Bond Debt Service 4.674.028 0 4.674,028 4,991,315
Construction Account 0 0 0 l ,260,390
TOTAL CASH AT THE END OF THE YEAR $ 11 "'-Q2f~7 $ z ~2~ 522 s 19 ~~4 Qa2 s '4 91~ ~~~
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
28
COMBINED STATEMENT OF CASH FLO\IVS -ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 2001
VJ!TH COtv1PARATiVE TOTALS FOR DECEMBER 31, 2000
CPAGE 2 OF 2)
PROPRIETARY FUND TYPES
RECONCILIATION OF OPERATING iNCOME CLOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTiVITiES
ENTERPRISE
INTERNAL
SERVICE
Operating :ncome (loss) S 92,919 2_095,026 s ---~"'-'-'--
Adjustments to Reconcile Operating lncorne Closs)
to Net Cash Provided (Used) By Operating Activities·
Depreciarion and Amortization of Deferred Charge 4,264,310
Other Non-Operating Revenue 129 ,330
(increase) Decrease in Accounts Receivobie (619,036)
(Increase) Decrease in Due From Other FundsiGovemmer 48,522
(increase) Decrease in inventory/Prepaid !terns 30,763
increase (Decrease) in Vouchers/Controcts/Retoinage Pc 1 i8,517
Increase (Decrease) in Due to Other FundsiGovernmento 6.85 l
Increase (Decrease) in Payables/Other Short Term UobilitiE 28,377
increase (Decrease) 1n Customer Deposits (60,271)
Increase (Decrease) in Deferred Revenues (19,269)
Increase (Decrease) in Accrued Employee Leave Benefits 20.116
increase (Decrease) in Claims incurred But Not Reported --...,-,.,,,.-,-'o'"-
Total Adjustments 3.948210
NET CASH PROVIDED (USED) BY OPERATING ACTIVfflES $ ===6,:C!iii41'3=2=3a.6:
SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES·
Fixed Assets Contribured By Developers $
Change in Fair Value of Investments
5.969,070 $
5L227
995,070
82.715
4,177
876
(3,660)
(57 .023)
0
(2)
54.854
0
5,885
(252,420)
830.472
923 391
0
97,933
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIVITfE $ 97 933 6020297 $~=~=="""'=
s
s
s
$
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
29
COMPARATiVE TOTALS
(MEMORANDUM ONLY)
2001 2000
2.187,945 s 5,938.708
5.259.380 4,690,398
212,04-5 163,184
(614,859) (912,901)
49 .398 519,971
27,103 251.328
61,494 (585,965)
6.851 (43,787)
28,375 (3,216)
(5,417) (15,400)
(19,269) (194,386)
26.001 (20,626)
(252.420) (422,950)
4.778,682 3.425,650
6966 627 s 9 364 358
5,969,070 $ 4,558,340
149,160 437,724
t:i1Ja2~n s 499Q~
FIREMEN'S PENSION TRUST FUND
STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31 2001 AND 2000
(PAGE l OF 1)
ADDiTfOl'JS
Others Contributions
Hre Insurance Premiums
Investment income
Interest Revenue
TOTAL ADDffiONS
DEDUCTIONS·
Benefit Payments
Administrative and General
TOTAL DEDUCTIONS
NET INCREASE (DECREASE)
FUND BALANCE RESERVED f-OR EMPLOYEES' PENSION BENEFITS
FUND BALANCE JANUARY 1
FUND BALANCE DECEMBER 31
s
s
2001
50,703 $
459,697
510,400
323,128
13,040
336,168
174,232
8.046220
2000
44,582
1-427 .200
l ,471-752
313,035
6,434
3i9,469
1.152.313
6,893.907
8 220 452 $ ===8=0=46..,.22.,0,,,
THE ACCOMPANYING NOTES ARE AN INTEGHAL PART OF THIS STATEMENT
30
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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.
31
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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 capitol 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 controls, 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.
Pursuant to GASB Statement Number 20, "Accounting and Financial Reporting for Proprietary
Funds and Other Governmental Entities That Use Proprietary Fund Accounting," the City has
chosen to apply all applicable GASB Pronouncements and only FASB Statements and
Interpretations, Accounting Principles Board Opinions and Accounting Research Bulletins issued
on or before November 30, 1989, unless they conflict with or contradict GASB Pronouncements.
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.
Account Groups
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.
32
Comparative Data
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
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.
Tata/ Columns on Combined Statements
Total columns on the combined statements are presented only to facilitate financial analysis.
Dato 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. lnterfund 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 of Accounting
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 ore discussed below.
The portion of property taxes receivable at year-end that ore received in January for the prior
year's levy ore recorded as revenue. The remaining balance is not normally expected to be
collected within 30 days ofter the current period and is, therefore, reported as deferred revenue.
Grant revenues from cost reimbursement grants ore 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 ore
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, ore accounted for in the
General Long-Term Debt Account Group, except for long-term liabilities accounted for in the
Proprietary Funds.
Accrual Basis of Accounting
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.
33
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
The revenues of the Waterworks and Solid Waste Utilities, which are based upon service rates
authorized by the City Council, ore determined by monthly billings to customers, Revenues of the
Golf Course are based on user fees, and Airport revenue is based on leose 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)
35A33, 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 35A33, 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 3 L 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 four times during 200L 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 canceled, 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 $3,486,133,
34
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
ASSETS, LIABILITIES AND FUND EQUITY
ccsh & Cash Equivalents
Al I 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 fair value
as required by the Governmental Accounting Standards Board (GASB) Statement No. 31.
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 ond investment information is presented in Note 3.
Inventories
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 l on property value listed as of the
prior August 31. Assessed values are established by the County Assessor at l OO"lo of fair market
value. A revaluation of all property is required every two years, however King County has the
ability to revalue annually.
Property taxes 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"/o 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 rece'1ved.
35
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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 2001, the City levied $3.27385 per $1,000 of assessed valuation for general
purposes,
State law also provides that the City's operating levy may not exceed l 06% 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 1% ($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 2001, the City's general tax levy was $3.27385 and the excess levy for Unlimited General
Obligation Bonds issued for the construction of Gene Coulon Memorial Beach Park and Senior
Housing was $0,10078, A total of $3,37463 per $1,000 on a total assessed valuation of
$5,062.641,752 per the King County Assessor's 2001 Annual Report,
Estimated and actual property tax revenue is compared in the following table:
ITEM
General Levy
Excess Levy
TOTAL
Assessments Receivable
TABLE 1: PROPERTY TAX LEVY
ESTIMATED
PROPERTY TAXES
s 16,467,083
509,208
$ 16,976 291
ACTUAL
PROPERTY TAXES
s 16,177,513
500,369
$ 16,677,882
VARIANCE
s (289,570)
(8,839)
$ (298,409)
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.
Fixed Assets and Depreciation
The capitalization threshold applied to the City's fixed assets is $5,000, 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 ore 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,
36
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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
Building
Non Building Improvement
Utility Plant
ESTIMATED
SERVICE LIFE
25-50 years
25-50 years
25-75 years
Equipment 3-20 years
~see Note 7 for additional information
Accumulated Unpaid Vacation and Sick Pay
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 te:mination 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 and date of hire.
Accumulated amounts of vacation leave and related benefits are accrued as expenses when
incurred in Proprietary Funds. The current portion of the Enterprise Funds, $32,542, and the
Internal Service Funds, $3,057 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 2001, the Governmental Funds recorded current liabilities of $277,555
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 $2, 113,97 l in the General Long-
Term Debt Account Group. The unpaid liability in the Proprietary Funds at December 31 was
$247,397.
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, 2001, were $198,854
and $2, l l l ,640, respectively. The following table details the total vacation and sick leave liability:
ITEM
General Governmental Fund
Genera! long-Term Debt
Proprietary Fund
TOTAL LEAVE BENEFITS
TABLE 3: EMPLOYEE LEAVE PAYABLE
CURRENT LONG-TERM
s 277,555 $ 0
0 4.225.611
35,599 446,251
$ 313, 154 $ 4,671,862
37
s
$
TOTAL
277,555
4,225.611
481,850
4,985,016
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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 $167,010 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, 2001, the Insurance Fund's unreserved retained earnings
totaled $5,198,173. See Note 17 for additional information.
NOTE 2 -STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
Deficit Fund Equity
The Leased City Properties capital projects fund had a deficit fund balance of ($626,412) as of
December 31 , 200 l . The fund is incurring capital expenditures in excess of lease revenues. The
long-term expectation is that lease revenues will offset the expenditures and reduce the deficit
incrementally each year.
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.
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 rota basis. Accordingly, the deposits covered by WPDPC are
considered insured and classified as risk category 1. The City had $73,792,677 in cash and
investments at year-end, which consisted of $40,480,256 in the State Investment Pool and
Municipal Investors Account, $30,398,927 in other investments, and $14,495 in petty cash. All
cash in excess of current requirements was invested at year-end with bank deposits reporting a
cash balance of $2,913,494. Table 4 displays the breakdown of cash and deposits by type of
deposits and by fund type.
38
~:1 •
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 4: RECONCILIATION OF CASH AND INVESTMENTS BY FUND GROUP
STATE TOTAL ALL CHANGE IN
INVESTMENT RESTRICTED CASH&CASH FAIR VALUE OF
FUND GROUP CASH POOL/MIA' CASH EQUIVALENTS INVESTMENTS INVESTMENTS
Genera! $ 503.764 $ 6.016,608 s 0 $ 6,520,372 $ 753,059 $ 42,240
Special Revenue 2,313.970 3,030,000 0 5,343.970 0 56.279
Debt Service 935,054 1,522,500 0 2,457 ,554 0 17.713
Capital Projects 11,620.544 17,928,381 0 29,548.925 0 206.468
Enterprise (l.237,137) 7,995,000 4,699,467 11,457,330 0 51227
Internal Sewice 4,581.392 3,138,000 0 7,719.392 2.000,000 97,933
Trust & Agency 496,440 849.767 0 1.246.207 4,579,922 1.594.086
TOTAL $ 19,214,027 $ 40,480,256 $ 4,699,467 $ 64,393,750 $ 7,332,981 s 2,065,946
~ Municipal Investor Account
INVESTMENTS
TOTAL CASH &
INVESTMENTS
7.315,671
5,400.249
2,475.267
29,755.393
11,508,557
9,817.325
7,520.215
$ 73,792,677
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
fair value as of December 31, 2001. The City has no investments reported at amortized cost. The
fair value of the positions in the State Investment Pool and Municipal Investor Account is the
same as the value of the pool shares. The State Investment Pool is managed by the Treasurer of
the State of Washington and the Municipal Investor Account is managed by U.S. Bank.
The City of Renton's investments are categorized to give an indication of the risk assumed at
year-end. Category l 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, but not in the City's name. At the end of the year, the
City had no investments in category 3.
TABLE 5: CLASSIFICATION OF INVESTMENTS AS OF DECEMBER 31, 2001
ITEM CATEGORY 1
US Government $ 8,818,301
TOTAL INVESTMENTS $ 8,818,301
NOTE 4 -DEFERRED COMPENSATION
CATEGORY 2
$ 100.566
$ 100,566
$
$
FAIR
VALUE
8.918.867
8,918,867
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.
39
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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. At December 31. 2001, the fair value of the plans assets
was $20,174.102.
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.
NOTE 5 • RECEIVABLES AND PAYABLES
Table 6 details the specific receivables and payables at December 31, 2001. The City provides
reserves for potentially uncollectible water, wastewater, storm, metro, solid waste utility, and
airport charges. At December 31, 2001, these reserve balances were $60,308.
TABLE 6: NET RECEIVABLES AND PAYABLES
SPECIAL DEBT CAPITAL INTERNAL TRUST &
ITEM GENERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE AGENCY TOTAL
RECEIVABLES:
Taxes $ 396.255 $ 0 $ 18,093 $ 0 $ 0 $ 0 $ 0 s 414,348
Accounts 4,139,046 32,183 0 31.821 4,667.555 3.608 0 8.874213
Notes 0 0 0 0 2 LD-11 0 0 21.041
Special Assess-Delinquent 0 0 658 0 0 0 0 658
Specio! Assess-Deferred 0 0 697,169 0 0 0 0 697,169
interest-Special Assess 0 0 385 0 0 0 0 385
Interest on investments 86,391 54,909 17,323 16i,763 50,234 114.947 1,135,261 1,620,828
TOTAL All FUND TYPES $4,621,692 $ 87,092 $ 733,628 $ 193,584 $4,738,830 $ 118,555 $1,135,261 $11,628,642
PAYABLES:
Matured Interest Payable $ 0 0 s 292.000 s 0 s 0 $ 0 s 0 $ 292,000
Accrued Interest Payable 0 0 0 0 238,782 0 0 238,782
Accrued Wages Payable-0 0 0 0 29.741 2,793 0 32,534
Accrued Benefits Payable 0 0 0 0 2,801 264 33 3.098
Accrued T oxes Pa ob!e 2,921 7,005 0 38204 129,394 56 0 177,580
TOTAL ALL FUND TYPES $ 2,921 $ 7,005 $ 292,000 $ 38,204 $ 400,718 $ 3,113 $ 33 $ 743,994
Note Receivable: Table 6 details the current portion of the note receivable in the amount of
$21 ,041 due from the Golf Course Concessionaire. The non-current portion of this receivable is
so.
40
Ii
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
INTERFUND RECEIVABLES AND PAYABLES
TABLE 7: INTERFUND RECEIVABLES AND PAYABLES
ITEM DUE FROM DUE TO
GENERAL FUND $ 7,378 $ 104,827
SPECIAL REVENUE FUNDS:
Street Fund 23.524 0
Total Special Revenue Funds 23,524 0
DEBT SERVICE FUNDS:
General Government ~vlisc, Debt 52.332 0
1989 Unlimited GO i64 0
Total Debt Service Funds 52,496 0
CAPITAL PROJECT FUNDS:
Municipal Facilities Construction 52.332 0
Capital Improvement Fund 0 22.147
Total Capitol Project Funds 52,332 22,147
ENTERPRISE FUNDS:
Waterworks Utility Fund 0 4.409
Air ort Fund 0 4,346
Total Enterprise Funds 0 8,755
TOTAL ALL FUND TYPES $ 135,730 $ 135,729
INTERFUND LOANS/ADVANCES RECEIVABLE & PAYABLE
The following is a reconciliation of the $995,000 interfund loans and advances of which SO is
current and $995.000 is long term:
TABLE 8: INTERFUND LOANS/ADVANCES -RECEIVABLE AND PAYABLE
INTERFUND LOANS/ ADVANCES
FUND RECEIVABLE PAYABLE
GENERAL FUND $ 75,000 s 0
SPECIAL REVENUE FUNDS:
Community Development Block Grant 0 75.000
CAPITAL PROJECTS FUNDS:
~v1unicipol Facilities Construction 920,000 0
Leased City Properties 0 920,000
TOTAL ALL FUND GROUPS $ 995,000 $ 995,000
41
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
INTERGOVERNMENTAL RECEIVABLES
At December 31, 2001 , the receivables from other governmental units included federal, state
and local grants receivable of $2,244,737, and other governmental receivables amounting to
$419,259.
TABLE 9: DUE FROM OTHER GOVERNMENTAL UNITS
SOURCE
GRANTS:
Federal Emergency Management Agency
Department of Justice
Department of Transportation
State of Washington
Subtotal -All Grants
OTHER GOVERNMENTAL RECEIVABLES:
Municipal Court
Bryn Mawr-Lal<:eridge Water & Sewer
TOTAL DUE FROt.11 OTHER GOVERNMENTS
INTERGOVERNMENTAL PAYABLES
AMOUNT
$ 14,012
23,939
599,210
1,546,538
61,038
2 244,737
110,054
282,268
26,937
$ 2,663,996
A total of $1,837,583 was recorded as due to other governmental units at December 31, 2001.
This included $1,332,776 for the portion of Municipal Court's outstanding receivables due to the
State and $504,807 to the Washington State Department of Community, Trade and Economic
Development for current portion due on Public Works Trust Fund loans.
NOTE 6 -RESIDUAL EQUITY AND OPERATING TRANSFERS
lnterfund transfers are classified as either residual equity transfers or operating transfers. 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. Operating transfers are
accounted for as "other financing sources or uses" and are included in the operating statements.
There were no residual equity iransfers recorded in 2001 ,
42
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
TABLE 10: OPERATING TRANSFERS
FUND TYPE TRANSFERS IN TRANSFERS OUT
GENERAL GOVERNMENTAL:
General $ 0 s 5.550.000
Park 0 800,000
Arterial Street 0 353.500
Street 0 450.000
Community Dev. Block Grants 50.000 0
One Percent for Art 13.085 13.200
1978 Limited GO Bonds 0 160.000
General Government Misc Debt 77,650 550,000
Downtown Parking Garage 4,000,000 0
Transportation Impact Mitigation 0 941,509
Municipal Facilities Construction 1,273,200 42.000
Capital Improvement 1,437.009 13,085
PROPRIETARY FUNDS:
Waterworks Utmty 0 77,650
Insurance 2,100,000 0
TOTALS $ 8,950,944 $ 8,950,944
NOTE 7 -FIXED ASSETS
Generol Fixed Assets are long lived assets of the City as a whole. When purchased, leased, or
constructed, such assets ore 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. Depreciation has not
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 2001, 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 11 and 12 describe the changes in the City's general fixed
assets during 2001 and the Construction Work In Progress at the end of the year.
TABLE 11: CHANGES IN GENERAL FIXED ASSETS
BEGINNING ENDING
ASSET BALANCE ADDITIONS DELETIONS BALANCE
Land s 28,550,273 $ 0 $ 8,547 $ 28,541,726
Buildings 61,338,863 4,441,603 3,402 65,777,064
Non-Building Improvements 17,879,726 4, 181,288 182.246 21,878,768
Equipment 13.187,358 273.418 4, 182,703 9,278,073
Construction in Progress 3,207,433 10,091,951 8,600,141 4,699,243
Joint Venture 2,546.163 1,541.096 0 4,087,259
TOTAL $ 126,709,816 $ 20,529,356 $ 12,977,039 $ 134,262, 133
43
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 12: CONSTRUCTION WORK IN PROGRESS
ESTIMATED
REMAINING ESTIMATED
PROJECT COSTTO DATE COSTS TOTAL COST
Athletic Fleld Light Poie Replacement $ 11,333 $ 45,000 s 56,333
Cedar River Trail Extension 194 60,000 60,194
City Facilities Repaving 91,476 70,000 161,476
City Neighborhood Beautification 65,638 30,000 95,638
Community Svcs Grant-Matching Funds 206,764 200,000 406,764
Comprehensive Plan Update 40,863 40,000 80,863
Conferencing Center 42,411 240,000 282,411
Downtown Parking Garage 432,218 9,540,400 9,972,618
Fire Station 12 1,030,352 500,000 1,530,352
Fire Station 15 911,079 2,800,000 3,711,079
Highlands Annex Acq/Demolition 272,001 1,000 273,001
Highlands Improvement Program 76,314 115,000 191,314
New Shop Facilities 33,420 40,000 73,420
Park Play Equipment 34A,673 230,000 574,673
Pavilion Project 80,211 2,300,000 2,380,211
Performing Arts Center 200,000 250,000 450,000
Port Quendall 791,460 300,000 1,091,460
Senior Center Major Maintenance 47,525 385,000 432,525
Storage Buildings 21,311 430,000 451,311
TOTAL $ 4,699,243 $ 17,576,400 $ 22,275,643
Fixed assets of Proprietary Furtds 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, Tile 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 2001, interest
costs incurred on constructiort projects in Proprietary Funds were not material,
Table 13 provides a summary of Proprietary Fund property, plant, and equipment as of
December 31, 2001,
4,4
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 13: PROPRIETARY PROPERTY, PLANT, & EQUIPMENT
SCUD GOLF TOTAL
WATERWORKS AIRPORT WASTE COURSE TOTAL EQUIPMENT INTERNAL
ASSET UTILITY FUND UTILITY FUND ENTERPRISE RENTAL INSURANCE SERVICE
Land 3,&,"9,040 s 784.080 0 $ 2,683,200 $ 6.976;320 0 0 0
faJildings 8,691,495 658,992 0 4,032.970 13.383,457 0 0 0
EqU1pment 3.987.817 46,314 520,051 723,181 5.277 ,363 8,889,665 93.000 8,982.665
Other Improvements 178A94.513 9,719.296 0 3.310,0311 191,523,843 0 0 0
Construction Work in Progress 4,030.837 90-9.760 0 28,787 4.969,384 0 0 0
TOTAL ASSETS 198,713,702 12, 118,442 520,051 10 778172 222, 130,367 8,889,665 93000 8,982,665
Less Accumulated Depreciation 42,642,199 6.720.089 468,641 1,874,095 51.705,024 4,132.071 36.468 4,168.539
NET PROPERTY, PLANT & EQUIPMENT $156,071,503 $ 5,398,353 $ 51,410 $ 8,904,077 $170,425,343 $4,757,594 $ 56,532 $ 4,814,126
CONTRIBUTED CAPITAL RETIREMENT
The Airport Fund has $7,410,906 of contributed capital that includes $7,271,306 of Federal,
$53,775 of State, and $85,825 of private sources which is being retired on an annual basis, The
unamortized balance as of December 31, 2001, was $2,529,753.
The Airport is the only fund that amortizes its contributed capital at this time. The Waterworks
Utility Fund has S 112, 116,546 of contributed capital, the Solid Waste Utility Fund has S 166, l 66, the
Golf Course Fund has S 1,412,225, and the Equipment Rental Fund has $2,282,377. These funds'
contributed capital are not being retired.
NOTE 8 -PREPAID ITEMS
The General Fund has recorded $8,000 of prepaid items at December 31, 2001. This amount
represents prepaid postage charges to be expensed in 2002. The Insurance Fund has recorded
$3,000 of prepaid items at December 31, 2001. This amount represents a $3,000 revolving fund
established to pay claims by our insurance broker.
NOTE 9 -JOINT VENTURE
The Valley Communications Center (Valley-Com), an emergency dispatch operation, was
established August 20, 1976, when an lnterlocal Agreement was entered into by four
participating municipal governments, that include the cities of Renton, Kent, Auburn and
Tukwila, The provisions and terms of the "lnterlocal Cooperation Act" pursuant to R.CW. 39.34
sanction the agreement. 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 seNed upon the other cities
on or before July l in any one year, and such termination shall then become effective on the
last day of such year.
On August 4, 1999 the Administration Board of Valley Communications Center voted to include
the City of Federal Way as a full participating Member City as of January l, 2001. A new
lnterlocal Agreement pursuant to RCW 39.34, et seq., was entered into by the five participating
municipal corporations, that include the cities of Auburn, Federal Way, Kent, Renton, and
Tukwila on April 17, 2001. This agreement reaffirmed Valley Communications Center as a
governmental administration agency pursuant to RCW 39.34.030 (3) (b).
45
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
The duration of the agreement is for five (5) years from its effective date, January l , 200 l and,
shall automatically be extended for an additional five (5) year period unless terminated as
provided. However, the agreement shall not be terminated until all bonds issued by Valley
Communications Center Development Authority have been paid and retired.
During 2001, the Valley Communications Center Development Authority was created to issue
$12, 758,000 in General Obligation Bonds to finance construction, equipment, and land for a new
facility to be completed in 200 I . Each of the five participating cities is responsible for one-fifth of
the debt obligation, which is $2,551 ,600.
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 five participating cities and to the several subscribing agencies, which include King
County Fire Districts #2, #17, #20, #26, #40, #43, #44, #47: City of Pacific Police and Fire
Departments, City of Algona Police Department, City of Des Moines Police Department, City of
Black Diamond Police Department, and King County EMS Units. Separate agreements between
Valley-Com and the subscribing agencies have been executed, which set forth conditions at
services and rates charged.
The allocation of prorated financial participation among the five 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 31. 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 200 l cost distributions for the
four participating cities were as follows:
TABLE 14: JOINT VENTURE COST DISTRIBUTION
DISPATCHABLE PERCENT 2001
CITY CALLS OF TOTAL ASSESSMENTS
Renton 63,378 19.07% s 980.653
Kent 91.625 28.08% 1.444,492
Auburn 66.908 20.19% 1.038,622
Tukwila 37.980 10.96% 563.597
Federal Way 71,629 21.70% 1.116. 148
TOTAL 331,520 100.00°/o $ 5, 143,512
Valley-Com is governed by an Administration Board, composed of the Mayors or designated
representatives from the five participating cities of Renton, Kent. Auburn, Tukwila, and Federal
Way. The Administration Board is responsible for the following functions: a) Recommend action
to the legislative bodies of the participating members; b) Review and approve budget
expenditures; c) Establish policies for expenditures of budget items for the Center; d) Review and
adopt o personnel policy for the Valley Com Center; e) Establish a fund or special fund or funds
as authorized by RCW 39.34.030 for the operation of the Valley Com Center; f) Conduct regular
meetings as many be designated by the Administration Board; g) Determine what services shall
be offered and under what terms they shall be offered; h) Enter into agreements with third
parties for goods and services necessary to fully implement the purposes of this agreement;
I) Establish rates for services provided to other members. subscribers or participating agencies;
j) Direct and supervise the activities of the Operations Board and the Center Director; k) Incur
debt in the name of the Center to make purchases or contract for services necessary to fully
implement the purposes of this agreement; I) Enter into agreements with, and receive and
distribute funds, from any federal, state, or local agencies; m) Receive all funds allocated to the
Center from its members; n) To purchase, take, receive, lease, take by gift, or otherwise acquire,
46
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
own, hold, improve, use and otherwise deal in and with real or personal property, or any interest
therein, in the name of Valley Communications Center; o) To sell, convey, mortgage, pledge,
lease, exchange, transfer and otherwise dispose of all of its property and assets; p) To sue and
be sued, complain and defend, in all courts of competent jurisdiction in the Center's name; q)
To make and alter by-laws for the administration and regulation of its affairs; r) Enter into
contracts with future participating members and subscribers to provide communications
services; s) To hold radio frequency licenses to enable the Center to operate radio
communications and dispatch systems to meet its public safety responsibilities; and t) Any and
all other acts necessary to further Valley Communication Center's goals and purpose.
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: a) Oversee the operation of
Valley-Com, and advise and make recommendations to the Administration Board; b) Make
recommendations on Director selection; c) Present proposed policies and budgets to the
Administration Board; and, d) Approve disbursement of funds by the Director.
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 Administrative Board by September l of each
year. The Administrative 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 lnterlocal Agreement.
Tables 15 and 16 show the condensed financial position as of December 31 , 200 l, and the results
of operation and changes in retained earnings tor the year ended 200 l. Audited 200 l financial
statements are available from Valley-Com.
TABLE 15: BALANCE SHEET
ITEM
ASSETS:
Current Assets
Restricted Assets
Property, Plant, and Equipment
Unamortized Bond Premium
TOTAL ASSETS
LIABILITIES AND FUND EQUITY:
Current Uabillties
Long-Term liabilities
TOTAL LIABILITIES
Retained Earnings
Contributed Capital
TOTAL FUND EQUITY
TOTAL LIABILITIES AND FUND EQUITY
47
s
AMOUNT
6.841,345
2.457.762
16,584.110
2.669
$ 25,885,886
$ 725.459
241.204
966,663
17.955,521
6.963,702
24,919,223
$ 25,885,886
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 16: STATEMENT Of REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS
ITEM AMOUNT
OPERATING REVENUE:
Intergovernmental Charges s 6,821,532
Other Operating Revenue 6,229
Total Operating Revenue 6,827,761
OPERATING EXPENSES: 6,006,311
Net Operating income 821,450
NON-OPERATING REVENUE (EXPENSES>
Interest and !\1iscellaneous Revenue 360,930
Construction Funds 6,500,000
Total Non-Operating Revenue (Expenses) 6,860,930
Net Income Closs) 7,682,380
Retained Earnings at Beginning of Vear 10.273.141
Retained Earnings at End of Year 17,955,521
Contributed Capital 48,502
800-Mhz Contributed Capital 6,915.200
TOTAL FUND EQUITY AT ENO OF YEAR $ 24,919,223
The share of equity belonging to the five participating cities is shown in Table 17 below. Liabilities
are the responsibility of the five participating cities in direct proportion to their equity position.
TABLE 17: JOINT VENTURE EQUITY
ITEM RENTON KENT AUBURN TUKWILA FEDERAL WAY TOTAL
Equity January l , 200 l s 2.546, 163 s 3.247,038 $ 2.266.521 s 1.715,909 s 569,630 s 10,345.261
Current Year Increase 1.541,096 2217,346 1.521 .454 976.734 1.402, 132 7,658.762
E9u!!l': December 31, 2001 $ 4,087,259 $ 5,464,384 $ 3,787,975 $ 2,692,643 $ 1,971,762 $ 18,004,023
Percent of Equiiy 22. 7fJ'lo 30.35% 21.04%. 14.96°,{, 10.95°,{, 100.00%
Percent of 200 l Distribution 20. 12°,b 28.95°/o 19.87°/c 12.75% 18.31% 100.0ITTo
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-megohertz 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, relinquishes its equipment and transfers any unexpended levy proceeds and
associated equipment replacement reseNes to another subregion or consortium of subregions.
In accordance with this agreement. the participating cities of Valley-Com have no equity
interest in Valley-Com's 800-megahertz contributed capital (King County levy distribution and
interest earned) of $6,915,200 as of December 31, 2001.
48
' ii
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
NOTE 10 -PENSION PLAN & OTHER POST EMPLOYMENT BENEFITS
All of the City's full-time and qualifying part-time employees participate in one of the following
three defined benefit retirement systems: l) Public Employees' Retirement System (PERS); 2) Law
Enforcement Officers and Fire Fighters Retirement System (LEOFF) which are both cost-sharing
multiple-employer plans 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 $36,018,289 for the year ended December 31, 200L
TABLE 18: PERS AND LEOFF INFORMATION BY PLAN
PERS PLAN I PERS PLAN II LEaFF PLAN I LEOFF PLAN II
(MEMBERSHIP (MEMBERSHIP (MEMBERSHIP (MEMBERSHIP
PRIOR TO ON OR AFTER PRIOR TO ON OR AFTER
ITEM 10/1/77) 10/1/77) 10/1/77) 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/any age 65/55' 50 58/50
EMPLOYEE CONTRIBUTION:
Required Rate@ 12/31/01 6.00% 0,88% 0,00% 4.50%
Contribution Amount for 200 l s 143,536 s 296,950 s 201 s 675,644
EMPLOYER CONTRIBUTION:
Required Rate@ 12/31/01 l.77% 1.77% 0.23% 2.93%
Contribution Amount for 2001 s 79,263 $577,ll? s 3.834 s 433,021
" Receive Reduced Benefits.
PUBLIC EMPLOYEES' RETIREMENT SYSTEM (PERS)
Plan Description
The PERS system was established by the State legislature in 1947 under Revised Code of
Washington (RCW) Chapter 4L40. Membership in the system includes elected officials, state
employees, and employees of local government. Approximately 46% of PERS members are state
employees,
The PERS system consists of two plans. Participants who joined the system prior to October 1 ,
1977 are Plan I members. Participants joining October l, 1977 and after are Plan II members.
Retirement benefits are financed from employee and employer contributions and investment
earnings. Retirement benefits in both plans are vested after completion of five years of eligible
service. Both plans provide retirement and disability benefits, annual cost-of-living adjustments,
and death benefits to plan members and beneficiaries.
Funding Policy
The State legislature establishes Plan I employer contribution rates, and Plan II employer and
employee contribution rates each biennium. Employee contribution rates for Plan I are
established by statute and do not vary from year to year. See Table 18 for information regarding
contribution rates and employer/employee contributions as of December 31, 2001.
49
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
LAW ENFORCEMENT OFFICERS & FIRE FIGHTERS RETIREMENT SYSTEM (LEOFF)
Plan Description
The LEOFF system was established by the State legislature in 1970 under Revised Code of
Washington (RCW) Chapter 41.26. Membership includes all full-time law enforcement officers
and fire fighters. LEOFF is comprised solely of non-state employees.
The LEOFF system consists of two plans. Participants who joined the system prior to October l,
1977 are Plan I members. Participants joining October l, 1977 and after are Plan II members.
Retirement benefits are financed by employee and employer contributions. investment
earnings, and legislative appropriation. Retirement benefits in both plans are vested after
completion of five years of eligible service. Both plans provide retirement and disability benefits,
annual cost-of-living adjustments, and death benefits to plan members and beneficiaries.
Funding Policy
Pion I employers and employees are required to contribute at a prescribed rate and the State is
responsible for the balance of the funding. Plan II employers and employees are required to
contribute at levels established by the State legislature. The contribution rates are developed by
the Office of the State Actuary in order to fund the system. See Table 18 for information
regarding contribution rates and employer/employee contributions as of December 31, 2001.
TABLE 19: PERS AND LEOFF INFORMATION BY SYSTEM
ITEM (DOLLARS IN MILLIONS) PERS LEO FF
City Participating Payroll $ 20.351 $ 13.539
Plan I City Contribution Rate@ 12/31/01 1.77% 0.23%
Plan II City Conllibution Rate@ 12/31/01 l .77°!o 2.93%
City Plan Contribution:
2001 $ 0.656 $ 0.437
2000 s 0.834 s 0.492
1999 s 1.087 s 0.583
1998 s 1.283 s 0.636
1997 s 1.230 s 0.608
Plan I Employee Contribution Rate@ 12/31/01 6.00% 0.00%
Plan II Em[210iee Contribution Rate@ 12/31/01 0.88% 4.50%
"" AU required contributions to both systems were made by the city and the employees,
Historical trend and other information regarding the PERS and LEOFF plans are presented in the
State Department of Retirement Systems 2001 Comprehensive Annual Financial Report. A copy
of this report may be obtained by contacting the Department of Retirement Systems.
Administrative Services Division, PO Box 48380, Olympia, WA 98504-8380.
FIREMEN'S PENSION
Plan Description
The City is the administrator of a Firemen's Pension Plan, a closed, single-employer. defined
benefit pension plan established in accordance with Revised Code of Washington (RCW) 41.18
and in accordance with the Renton Municipal Code. This plan provides retirement and disability
benefits. annual cost-of-living adjustments, and death benefits to plan members and
beneficiaries. This system was established for fire fighters employed prior to March l, 1970, when
50
~ z
I
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
the LEOFF retirement system was established. 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 Firemen's Pension Plan is considered part of the City's reporting entity and is included in the
City's financial statements as a pension trust fund. The report may be obtained by contacting
the City of Renton Finance Department, 1055 South Grady Way, Renton, Washington 98055. At
December 31, 2001, there were 43 members in the System. This includes 36 retirees and
beneficiaries currently receiving benefits; 7 retirees currently receiving full retirement benefits
through the Law Enforcement Officers and Fire Fighters Retirement Plan (LEOFF); and no vested
or non-vested active members.
Funding Policy
Under State law, the Firemen's Pension Plan is provided an allocation of all monies received by
the State from taxes on fire insurance premiums; interest earnings; member contributions made
prior to the inception of LEOFF; and City contributions required to meet projected future pension
obligations. Costs of administering the Firemen's Pension Plan are paid by the Plan. For 2001, this
cost was S 13 ,040. An actuarial valuation was completed as of January 1 , 2001 .
Significant actuarial assumptions used in the valuation include: 1) 5°1o inflation rate; 2) 6°1o
investment return, compounded annually; 3) 5°1o salary increase annually; 4) 5°1o post-retirement
benefit increase annually; 5) level dollar amortization method; and 6) 30-year open amortization
period. All assets are carried on a market value basis. There were no material changes to the
benefit provisions, actuarial funding method or other significant factors that affect contributions
required.
TABLE 20: ANNUAL PENSION COST AND NET PENSION OBLIGATION
FISCAL YEAR ENDING
ANNUAL REQUIRED CONTRIBUTION (ARC)
Annual Normal Cost Beginning of Year
Amortization of UAL Beginning of Year
Interest to End of Year
ARC at End of Year
Add Interest on NPO (Net Pension Obligation)
Subtract Adjustment to ARC
Annual Pension Cost (APC)
Subtract Employer Contributions
Change in NPO
NPO of Beginning of Veer
NPO at End of Year
$
$
DECEMBER 31, 2000
2.180
90.826
6.510
99,516
(4,738)
(5,098)
99,876
44.582
(55,294)
(67,686)
(12,392)
TABLE 21: SCHEDULE OF FUNDING PROGRESS
(Rounded to thousands)
UNFUNDED
ACTUARIAL ACTUARIAL
ACTUARIAL ACCRUED ACCRUED
VALUATION VALUE OF LIABILITIES LIABILITIES FUNDED
DATE ASSETS ENTRY AGE (UAAL) RATIO
January l, 1997 s 5.238 s 6,444 Sl.206 81.28%
January l. 200 l s 7,067 s 6,780 (287) 104.2%
51
I DECEMBER 31, 2001
$
$
COVERED
PAYROLL
s 260
s 0
0
(19,675)
(l.180)
0
(867)
(943)
76
50,703
(50,627)
(12,392)
(63,019)
UAALASA
PERCENTAGE
OF COVERED
PAYROLL
463 85%
N/A
FISCAL YEAR
ENDING
December 31 , 1999
December 31, 2000
December 31, 2001
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 22: SCHEDULE OF EMPLOYER CONTRIBUTIONS
ANNUAL
AClUAL ACTUAL TOTAL REQUIRED
EMPLOYER FIRE INSURANCE EMPLOYER CONTRIBUTION
CONTRll'IUTION PREMIUMS CONTRIBUTIONS CARC)
(j 75,340 75,340 99,516
0 44,582 44,582 99,516
0 50,703 50,703 0
PERCENTAGE
OF ARC
CONTRIBUTED
75.71%
44.80'%
NIA
TABLE 23: GASll STATEMENT NO, 27 THREE-YEAR TREND INFORMATION
(Rounded to thousands)
CONTRIBUTION
ANNUAL ASA NET PENSION
FISCAL YEAR PENSION COST PERCENTAGE OBLIGATION
ENDING (APC) OF (APC) (NPO)
December 31 , 1999 $100,007 75.33% ($67,686)
December 31 , 2000 s 99,876 44.64% ($12,392)
December 31 , 2001 76 667.14°/o ($63,019)
TABLE 24: ANNUAL DEVELOPMENT OF PENSION COST
TOTAL
ARC EMPLOYER
FISCAL YEAR ARCATEND INTEREST ON ADJUST-CONTRIBU-CHANGE IN NPO
ENDING OF YEAR NPO MENT APC TIONS NPO BALANCE
12/31/99 99,516 (6,465) (6,956) 100,007 75,340 24,667 (67,686)
12/31/00 99,516 (4,738) (5,098) 99,876 44,582 55,294 (12,392)
12/31/01 0 (867) (943) 76 50,703 50,627 (63,019)
The Annual Required Contribution has been calculated under the Entry Age Normal Cost
Method Employees are not required to make contributions, The contributions to the System for
2001 include $50,703 from fire insurance premiums and $459,697 of investment income,
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/l /70) retirees.
Currently there are 99 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 $389,708 were recognized for post employment health care,
52
, I
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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 $54.00 per month for 35 LEOFF I
retirees and 5 Fire Pension retirees.
NOTE 11 -CONSTRUCTION COMMITMENTS
At December 31 , 2001 , the City had significant contractual construction commitments. These are
listed in Table 25:
TABLE 25: CONSTRUCTION COMMITMENTS
PROJECT TITLE
Waterworks Improvements
Airport Improvements
Community Services Improvements
Street Improvements
COMMITMENT
s 883.657
219,134
639.895
l,299,516
NOTE 12 -LONG-TERM DEBT AND CAPITAL LEASES
FUNDING SOURCE
Public Works Trust Fund
Loans/Grants
Genera!; Grants
General/Grants
General/Grants
Ii 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 and special assessment debt are reported in the General Long-Term Debt Account Group;
2) The repayment, or debt seNice of the same, is recorded in the Debt SeNice Funds; and 3) The
proprietary debt liability and repayment of the same are reported in individual Proprietary Funds.
The City has AAA and A 1 bond ratings from independent rating agencies for its General
Obligation Bonds and Revenue Bonds respectively. Table 26 summarizes long-term debt
transactions of the City for the year ended December 31 , 2001. A detail of all outstanding debt
of the City is listed in Table 27.
53
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 26: LONG TERM DEBT ADDITIONS AND RETIREMENTS SUMMARY
PAYABLE PAYABLE
ITEM 1/1/01 ADDED RETIRED 12/31i01
GENERAL:
General Obligation Bonds $ 24,126,908 $ 19,505,000 $ 14,536,325 $ 29,095,583
Installment Contracts 218,830 0 25,122 193,708
Special Assessment 320,000 0 185,000 135.000
Emeiovee Leave Benefits 4,224.352 l ,259 0 4,225,6 ll
TOTAL GENERAL $ 28,890,090 $ 19,506,259 $ 14,746,447 $ 33,649,902
PROPRIETARY:
Revenue Bonds s 25.020,000 $ 0 s 1,950,000 $ 23,070,000
Installment Contracts 70.160 0 70,160 0
Capital Leases 86,609 0 40,953 45,656
Employee Leave Benefits 420,250 26,001 0 446,251
Public Works Trust Fund Loans 8.645.788 0 751,431 7,894,357
TOTAL PROPRIETARY $ 34,242,807 $ 26,001 $ 2,812,544 $ 31,456,264
TOTAL ALL FUNDS:
Genera! Obligation Bonds s 24,126,908 $ 19.505,000 s 14,536,325 $ 29,095,583
Revenue Bonds 25,020,000 0 1.950,000 23,070,000
Installment Contracts 288,990 0 95,282 193,708
Capita! Leases 86,609 0 40.953 45.656
Special Assessment 320,000 0 185,000 135,000
Employee Leave Benefits 4,644,602 27,260 0 4.671,862
Public Works Trust Fund Loan 8,645,788 0 751,431 7,894,357
TOTAL ALL FUNDS $ 63, 132,897 $ 19,532,260 $ 17,558,991 $ 65, 106, 166 ~
54
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
TABLE 27: OUTSTANDING DEBT AS OF DECEMBER 31, 2001
ITEM
General Obligation Bonds:
Limited
1989 GO Refunding Bonds
1993 GO Refunding Bonds
1994 GO Bonds
1996 GO Bonds
1997 G 0 Refunding Bonds
1997 Go Bonds
2001 GO i(:efunding Bonds
2001 G O Bonds
SUBTOTAL LIMITED GO
Uniimited
1993 GO Refunding Bonds-Coulon Park
1993 G 0 Refunding Bonds-.-Senior Housing
SUBTOTAL UNLIMITED GO
TOTAL GENERAL OBUGATION BONDS
Installment Contracts:
Certificates of Participation
TOTAL INSTALLMENT CONTRACTS
TOTAL GENERAL OBLIGATION DEBT
Revenue Bonds:
1992 water/Sewer
1992 Water/Sewer Refunding
1993 water/Sewer
·1993 Water/Sewer Refunding
1994 Water/Sewer
1998 water/Sewer Refunding
1999 Goif System Refunding
TOTAL REVENUE BONDS
Public Works Trust Fund Loons:
Northwest 7th Sewer Repair
Sierra Heights Sewer Improvements
Central Renton Sewer Replacement
East Renton Interceptor
Doyton Avenue NE
Sanitary Sewer Grouting
NE 27th/ Aberdeen Drainage Improvements
East Kennydaie Interceptor
Honeycreek Interceptor
Rolling Hills Reservoir
Corrosion Control Treatment Facilities
TOTAL PUBLIC WORKS TRUST FUND LOANS
Installment Contracts (Proprietory Funds):
Metro (Cedar River Trunk Project)
TOTAL !NSTAUMENT CONTRACTS
Capital Leases:
John Deere Equipment
John Deere Equipment
Yamaha Golf Course Carts
TOTAL CAPITAL LEASES
LID Bonds and Notes:
329 Street/Utiiities
TOTAL LID BONDS AND NOTES
Employee leave Benefits
TOTAL OUTSTANDING DEBT
INTEREST
RATES
6.75%-7.00%
3.0G-'h-4-80%
4.60%-6.30'%
4.25%-SJlO'Y"
5.25%-5.55%
5.55%-5.75%
2. 10%-4.85%
4.90%-5,00%
ISSUED
DATE
06/01 /89
08/01/93
12/01/94
10/15/96
05/01/97
05/01/97
10/18/0l
10/18/01
MATURITY
DATE
05/01/02
06/01/02
12/01/04
10/15/06
12/01/06
12i0l/17
12/01/17
12/01/21
4.00%-6.10% 09/0i/93 05/01;02
2.70%-5.20% 09/01/93 02;0li09
4.51%
3.50%-6.50%
3.50%--6.35%
3-00"k-5.375%
3.00%-5.375%
5.45%--6.55%
3.70"%-5. 10%
3.25%-5.30%
5.00%
3.00%
1.00%
2.003
2DO%
2.00%
100%
2.00%
2.00%
1.00%
1.00%
5.00-5-253
9.50%
10.39%
5.44%
09/01/98 06/01/08
06/01/92
06/01/92
08/01/93
08/01/93
11/01/94
03/01/98
04/01i99
12/31/91
10/20/92
06/14/93
06/14/93
05/24/94
05/19/94
06/27 /95
06/26!96
06/26;96
03/26/96
03/26/96
12/01/96
12/01 /02
12/01/06
04i0l/13
04/01 /JO
11/0i/04
06/01/13
12101/15
07/01/01
07/01/12
07/01/15
07/01/13
07/0i/14
07/01/04
07 /01 /15
07/01/16
07/01/16
07/01/01
07/01/17
12/01/01
10/01/97 09/01/02
10/01/97 09/01/02
04/01 /00 04/01 /03
04/01/93 04/01/02
55
TOTAL
AMOUNT
ISSUED
2.085.000
4,910,000
980,000
553,337
2.683,827
14.697,744
13,505,000
6DOO,OOO
45414,908
4,660,000
4270,000
8,930,000
54,344,908
278,172
278 172
$ 54,623,080
$ 4.000,000
4.635.000
5285,000
8,860,000
3,570,000
6,120,000
5,040,000
37,510,000
84,779
888A62
1,631,800
2,542,704
96,958
349.011
731,000
2,093,740
l ,840.568
154,400
1.106,000
$ 11 519,422
$
314952
314,952
21298
42,473
80.668
144,439
$ 1,654,063
$ 1,654,063
$ 0
105,765,956
OUTSTANDING
1/l/01 ISSUED REDEEMED 12/31/01
565,000
1.670,000
65.000
470.337
2,683,827
14.697,744
0
0
20 151,908
270,000
3.705.000
3975 000
24,126,908
218.830
0
0
0
0
0
0
13505.000
6,000,000
19,505,000
0
0
0
19,505,000
0
218 830 0
$ 24,345,738 $ 19,505,000
$ 350,000
2.530,000
3,980,000
7,175,000
790.000
5,645.000
4.550.000
$ 25,020,000 $
$ 9.419 s
307,709
124L322
1,749.410
71,443
247 209
638,847
1369672
1.549,952
67,550
893255
0
0
0
G
0
0
G
0
0
0
0
0
c
0
0
0
0
0
0
275.or'..iO
815,000
0
16.325
0
12,660,000
310,000
0
14,076,325
130,000
330,000
460,000
14,536,325
25,122
290.000
855,000
65,000
454.012
2,683,827
2,037,744
13,195,000
6DOODOO
25,580,583
140,000
3,375,000-
3 515 000
29 095,583
193,708
25 122 193 708
$ 14,561,447 $ 29,289 291
s 170,000
360.000
220,000
750,000
180,000
50,000
220,000
$ 1,950,000
0 9A19
25,642
87.484
134,570
5,103
61,802
42B?O
116.855
96.872
67,550
103,544
$ 180,000
2,170,000
3.760,000
6,425.000
610,000
5595,000
4,330,000
$ 23,070,000
$ 0
282,067
1,153,8-38
1,614,840
66,340
185A07
596257
1,752,817
l,453,080
0
789.71 l
$ 8,645,788 $ 0 $ 751,431 $ 7 894,357
70, 160 s 0 $ 70, 160 s 0
$ 70,160 $ 0 $ 70,160 $ 0
$
8,179 s
16.514
61,916
86,609 $
0
0
0
0
s 320,000 $ 0
$ 320,000 $ 0
4,644,602 $ 27,260
$ 63, 132,897 $ 19,532,260
4.752
9.565
26.636
3,427
6,949
35,280
40,953 $ 45,656
$ 185,000 s 135,000
$ 185,000 $ 135,000
$ 0 $ 4,671,862
17,558,991 $ 65,106 166
DEEP DISCOUNT DEBT
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 l
The 1996 Limited General Obligation Bond Issue included capital appreciation bonds that are
issued at a deep discount. The deep-discount debt will mature in the years 2005 and 2006 with
an accreted value of $25,000 and $194,000 respectively. The deep-discount debt is reported in
the General Long Term Debt Account Group in the amount of $127,012, net of the remaining
unamortized discount.
The 1997 Limited General Obligation Bond issue included capital appreciation bonds that are
issued at a deep discount. The deep-discount debt will mature in the years 2006, 2007, and 2008
and 2009 with an accreted value of $335,000, S 1,245,000, $1,250,000 and 1,000,000, respectively.
The deep-discount debt is reported in the General Long Term Debt Account Group in the
amount of $2,037,744, net of the remaining unamortized discount.
SPECIAL ASSESSMENT DEBT WITH GOVERNMENTAL COMMITMENT
As of December 31, 2001, a total of $135,000 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, 2001, special assessment
receivables totaled $697 ,827 that includes $658 of delinquent assessments. In the guaranty fund,
$161,420 represents 119.6% 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 December 31, 2001, the debt limits for the City were as follows:
ITEM
Legal limit
Outstanding Net Indebtedness
Capacity Available
REFUNDED DEBT
TABLE 28: DEBT LIMIT CAPACITIES
WITHOUT
A VOTE
s 75.939,626
25, 120.265
$ 50,819,361
$126,566,044
27,946,058
$ 98,619,986
WITH A VOTE OF THE PEOPLE
s 253, 132.088
0
$ 253, 132,088
s 379,698.132
27.946,058
$ 351,752,074
As of December 31 , 2001 , the City's refunded debt includes six 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, 2001,
and changes to refunded bonds payable are provided in the following tables.
56
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 29: REFUNDED BONDS
ITEM
ASSETS:
Cash with Trustee
Investments with Trustee
Estimated !nterest Receivable
TOTAL ASSETS
UABIUTIES:
Refunded Bonds Payable
EQUITY:
Earnings with Trustee
TOTAL LIABILITIES AND EQUITY
$
U.S. BANK
CORPORATE
TRUST
5.893
23.192.861
1.070,976
$ 24,269,730
$ 22.095.000
2.174.730
$ 24,269,730
TABLE 30: CHANGES TO REFUNDED BONDS PAYABLE
BALANCE
ITEM 12/31/00 INCREASE DECREASE
Refunded Bonds Payable GO $ 485.000 $ 12.660 ,000 $ 280.000
Refunded Bonds Payable Revenue 9,410,000 0 180.000
TOTAL $ 9,895,000 $12,660,000 $ 460,000
REFUNDING BOND ISSUES -2001
200 I Limited Tax General Obligation Refunding Bonds
BALANCE
12/31/01
$12.865DOO
9.230,000
$22,095,000
On November 1. 2001, the City issued $13,505,000 in Limited Tax General Obligation Refunding
Bonds with an average interest rate of 5.02% to advance refund $12.660.000 of outstanding 1997
Limited Tax General Obligation Bonds. The net proceeds were used to purchase U.S.
government securities which were deposited with an escrow agent to provide for all future debt
service payments on the refunding bonds. As a result, these bonds are considered def eased
and the liability for these bonds have been removed from the General Long-Term Debt.
The advance refunding resulted in a reduction in the aggregate debt service payments of
$451.804. In addition, the economic gain (difference between the present values of the old and
new debt service payments) was $393.062.
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. Deep-discount debt is reported at face value at maturity.
57
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
TABLE 31: DEBT SERVICE REQUIREMENT TO MATURITY (DOLLARS IN THOUSANDS)
CAPITAL LEASES/
TOTAL LONG TERM REVENUE PW TRUST INSTALLMENT SPECIAL TOTAL LONG
GO DEBT BONDS FUND LOANS CONTRACTS ASSESSMENT TERM DEBT
YEAR !PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I PRINCIPAL INTEREST I
2002 1.714 l,182 2,030 1,139 620 97 39 135 7 4538 2,426
2003 1282 1,473 2,160 i,033 621 88 7 0 0 0 4,070 2,594
2004 1,337 1,416 2275 920 621 81 0 0 0 0 4233 2,417
2005 l,231 1,528 2,390 794 559 74 0 0 0 0 4,180 2,396
2006 1200 L562 2270 674 558 68 0 0 0 0 4,028 2,304
2007 l,257 1,573 1,870 569 558 61 0 0 0 0 3,685 2203
2008 1,238 1,589 1,965 473 558 54 0 0 0 0 3}61 2,116
2009 1,330 i,476 1,720 379 558 48 0 0 0 0 3,608 1,903
2010 l,350 939 1,645 295 558 41 0 0 0 0 3,553 1,275
2011 l,400 885 l,360 219 558 34 0 0 0 0 3,318 l,138
2012 1,455 829 1,430 148 559 26 0 0 0 0 3,444 1,003
2013 1,530 753 1,150 82 533 19 0 0 0 0 3213 854
2014 l,610 673 395 42 363 13 0 0 0 0 2,368 728
2015 l,695 588 410 22 358 8 0 0 0 0 2,463 618
2016 l,785 499 0 0 263 4 0 0 0 0 2,048 503
2017 l,875 406 0 0 49 l 0 0 0 0 l ,924 407
2018 l,385 307 0 0 0 0 0 0 0 0 1,385 307
2019 1,460 234 0 0 0 0 0 0 0 0 1,460 234
2020 l,540 158 0 0 0 0 0 0 0 0 IMO 158
2021 I ,615 81 0 0 0 0 0 0 0 0 1,615 81
TOTALS $ 29 289 $ 18,151 $ 23,070 $ 6,789 $ 7,894 $ 717 $ 46 $ 1 $ 135 $ 7 $ 60,434 $ 25,665
AMOUNT AVAILABLE FOR DEBT SERVICE
Fund balances that have been reseNed for debt repayment are $2,546,129 in the debt service
funds,
CAPITAL LEASES
The City entered into lease agreements in 1997 and 2000 as lessee for financing the acquisition
of golf carts and lawn equipment for its Municipal Golf Course, The leases qualify as capital
leases for accounting purposes, Therefore, at inception of the leases, the equipment was
recorded as assets with a corresponding long-term liability equal to the present value of the
future lease payments that totaled $144,439, The fund records lease payments as reductions of
the long-term liability and as interest expense over the life of the lease, As of December 31,
2001, the current and long-term portion of capital leases payable were $38.418 and $7.238.
respectively, Table 32 provides the future minimum lease obligations and the net present value
of these minimum lease payments as of December 31 , 200 l ,
58
I
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
Table 32: Capital Lease Obligations
YEAR ENDING DECEMBER 31, 2001
2002
Tota! Minimum lease Payments
Less: Interest
PRESENT VALUE OF MINIMUM LEASE PAYMENTS
NOTE 13 ·DEFERRED CHARGES IN PROPRIETARY FUNDS
GOLF COURSE
FUND
39,979
47 280
(l ,624)
$ 45,656
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, 2001, there
was a balance remaining of $32,000.
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 33: RESERVATIONS OF FUND EQUITY
GENERAL DEBT CAPITAL TRUST &
EQUITY RESERVED FOR: FUND SERVICE PROJECTS ENTERPRISE AGENCY TOTAL
Debt SeNice /Arbitrage $ 0 $ 2,546,129 $ 0 $ 8.624, 119 $ 0 $ l l.170.248
Advances/Other Funds/Prepaids 83,000 0 920,000 0 0 1,003,000
Future Use 235,053 0 0 0 0 235,053
Emeloyees' Pension Benefits 0 0 0 0 8220,452 8.220,452
TOTAL $ 318,053 $ 2,546,129 $ 920,000 $ 8,624, 119 $ 8,220,452 $ 20,628,753
TABLE 34: UNRESERVED DESIGNATED FUND EQUITY
EQUITY DESIGNATED FOR: GENERAL FUND
Inmate Health & Welfare S 40,251
Investigative Fund Confiscations 90, 140
TOTAL $ 130,391
59
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
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, 2001 follows:
TABLE 35: SEGMENT INFORMATION FOR ENTERPRISE FUNDS
WATERWORKS SOLID GOLF TOTAL ENTERPRISE
ITEM UTILITY AIRPORT WASTE COURSE FUNDS
TOTAL OPERATING REVENUE $ 21,699,091 $ 855,740 $ 8,414,372 2,314,996 s 33,284,199
OPERATING EXPENSES:
Operations & Maintenance 12.463,725 471,211 7.692,256 1,466.738 22,093,930
Administrative & General 1,853,671 148,875 0 0 2,002,546
Insurance 0 18.000 0 0 18.000
Taxes 1,734,324 0 l ,078,777 13,286 2,826.387
De12reciation 3,661.458 181,268 25.931 379,653 4,248,310
Total OperatinQ Exe!nses 19,713,178 819,354 8,796,964 1,859,677 31,189,173
Net Operating income Closs) 1,985,913 36.386 (382,592) 455,319 2,095.026
Non~Operoting Revenue Net of Exper,ses (786,989) 209.773 69,264 (198,906) (706.858)
0 eratin Transfers !n (Out) (77h50) 0 0 0 (77 ,650)
Net Income (LOSS) $ 1,121.274 $ 246, 159 s (313,328) s 256,413 $ 1,310,518
Net \Norking CoQitOI s 4.583,323 $ 3,687 ,778 $ 854.67' $ l,l3L014 $ 10.256,786
Additions to Property, Plant and
Eaui12ment. Net of Dis,gosals 10,374,325 681.586 (25.932) (172,574) 10,857,405
T otai Assets 166 J 63 ,trJ5 9541,366 1.147,972 10.621 .723 188,074,666
Long Term Debt. Net of Current Portion
& Bond Premium/Discount 23.541,087 0 0 3,657,551 27, 198.638
Current CaQitai Contributions 7 .395.079 634,243 0 0 8,029,322
TOTAL FUND EQUITY $ 139,239,452 $ 9,049,768 $ 903,800 $ 6,546,951 $ 155,739,971
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 omissions; 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, excess
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 in Table 36. During 2001, there were no reductions in
insurance coverage, and settlements for the last three years have not exceeded insurance
coverage.
60
g
TYPE OF COVERAGE
Property
Liability
Auto Uobillty
Boller & Machinery
Public Officials
Crime
Airpcrt Liability
Underground Storage Tank
Worker's Comp
Employee Health
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 200 I
TABLE 36: RISK MANAGEMENT
RISK RETENTION RISK SHARING
OCCURRENCE CLAIMS ADMIN AGGREGATE
$ 25,000 WA Cities Ins Authority $ 500,000,000
(per occurrence
subject to sub~Hmits)
250,000 WA Cities !ns Authority 14,000,000
(per occurrence)
250,000 WA Cities Ins Authority 14,000,000
(per occurrence)
5DOO Arthur J, Gallagher 50,000DOO
250,000 WA Cltles Ins Authority 10,000,000
10,000 Arthur J, Gallagher 1,000,000
0 Arthur J. Gallagher 50,000,000
10,000 Ar1tiur J. Gallagher 1,000,000
300,000 Johnston & Culberson 2,000,000
190,000 HMA, Inc N/A
CARRIER
WA Cities Ins Authority
\VA Cities Ins Authority
WA Cities Ins Authority
Heriford Steam BoHer
\/VA Cities Ins Authority
Travelers Casualty &
Surety
Westchester Fire Ins
Commerce & Industry
Safety National
Casualty
Safeco
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 in Table 36, As of December 31, 200 l , the City had accrued the following
amounts for outstanding claims.
TABLE 37: OUTSTANDING CLAIMS
INCURRED/ INCURRED BUT NOT TOTAL CLAIMS
COVERAGE REPORTED REPORTED PAYABLE
Property & Liability s 0 $ 302,875 $ 302,875
Worker's Compensation 0 461,520 461,520
Employee Health 0 745,149 745, 149
TOTAL $ 0 $1,509,544 $1,509,544
Claims settlements and loss expenses are accrued in the Insurance Fund for the estimated
settlement value of both reported and unreported claims. The Insurance Fund is used for
collecting interfund premiums from insured funds and departments, and for paying claims
settlements, lnterfund premiums are assessed on the basis of claims history, number of
employees, and value of assets. Table 38 below presents changes in claims liabilities for 2000
and 200L
ITEM
Cid.ms Liobi'iities at Beginning of Year
Claims Expenses:
Current Year and Changes in
Estimates
Claims Payments
Ctaims Uobilffies at End of Year
s
$
TABLE 38: CHANGES IN CLAIMS LIABILITIES
PROPERTY & WORKER'S EMPLOYEE
LIABILITY COMPENSATION HEALTH
2001 2000 2001 2000 2001 2000
843, 175 $ l.125,180 $ 369,456 s 746,449 s 549,333 $ 313,285
117 ,648 241.415 751,649 (258,055) 4.929,067 4,057,809
(6-57,948) (523,420) (659,585) (118,938) (4,733,251) (3,821,761)
302,875 $ 843,175 $ 461,520 $ 369,456 $ 745,149 $ 549,333
61
TOTALS
2001 2000
s 1,761,964 s 2,184,914
5,798,364 4.041,169
(6.050,784) (4,464,119)
$ 1,509,544 $ 1,761,964
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2001
NOTE 18 -SUBSEQUENT EVENTS
On April 8, 2002, the City Council authorized the issuance of bonds to finance the construction of
Fire Station # 12, The amount of the bonds to be issued will be based upon requirements of the
project and an amount determined from the fire mitigation fund The City Council is also
considering the issuance of revenue bonds to finance various capital projects in the Waterworks
Utility,
62
GENERAL FUND
DECEMBER 31, 2001
The City of Renton's General Fund includes all financial transactions that are not
properly accounted for in other funds. It is the largest accounting entity in the City and
provides for most of the general operations except for park, street, and library
functions, which are accounted for in special revenue funds.
The major resource to the General Fund is general tax revenue. Licenses and permits,
charges for service and fines and forfeits provide additional support.
63
GENERAL FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF l)
ASSETS
Cash and Cash Equivoients
Investments at Fair Value
Receivables:
Taxes
Accounts
Interest or1 investments
Due From Other Funds
Due From Other Governmental Units
Prepaid Items
Restricted Assets:
Deposits
:nterfund Loons; Advances Non-Current
TOT AL ASSETS
UABIUTIES ANO FUND EQUiTY:
UABILITiES:
Vouchers/Contracts Payable
Due To Other Funds
Due To Other Governmentoi Units
Accrued Taxes Payable
Deposits Payable
Deterred Revenues
Accrued Empioyee Leave Benefits
TOTAL LiABILIT!ES
FUND EQUITY
Fund Balance:
Reserved for Future Use
Reserved for Advonces/Prepaids/Contingency
Unreserved -Designated:
For Inmate Health & Welfare
For Investigative Fund Confiscations
Unreserved Undesignated
TOTAL FUND EQUITY
TOTAL LIABILITiES AND FUND EQUITY
64
2001
s 6,562,612
753,059
396,255
4. l39,046
86,391
7,378
162,705
8,000
0
75,000
'219Q446
s 672,565
104.827
1.332,776
2,921
44.299
3.077 ,534
209.156
5.444.078
235,053
83,000
40,251
90,140
6.297.924
6,746,368
s 12 190 44A
2000
s 637230
8,022.110
358241
3,704,822
389,986
4.886
144,649
8.000
88,617
75,000
s 1".433 541
469,445
254,263
1 ,695,248
938
0
2.469,428
207,214
5.096,536
228,673
83,000
34,077 I '
98,452
7,892.803
8,337,005
134~~541
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31. 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 1OF1)
REVENUES
Taxes
Licenses And Permits
lntergovemrnenta! Revenues
Charges for SeN1ces
Fines Ana Forfeits
Contributions
!nterest
Misce!ianeous Revenues
TOTAL REVENUES
EXPENDITURES
Current
General Government
Security Of Persons And Property
Phys!col Environment
Economic Environment
Mente\ And Phys·ical Heam--,
Cu:ture and Recreation
Capitol Outioy
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FiNANCING SOURCES (USES)
Operating Transfers (Out)
Safe Of General Fixed Assets
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
FUND BALANCE DECEMBER 3 i
2001
31.482,675
2.110,600
l,966.122
4,196,915
944,671
101,783
1,208,435
158,530
42,169,731
8,977.920
23.596,319
1.878,916
3.487,376
6,756
177,039
141210
30265,536
3.904.195
(5,550,000)
55,168
(5,494,832)
(1,590,637)
8,337,005
s Q 746 368
65
s
s
2000
29.822.126
2,568.757
2,156.609
4, 129.214
974273
36,193
l,318.783
64258
4i.070.213
8.512.651
22.861,304
1,769,012
3,345.054
8,599
25.370
194.351
36,716.341
4.353.872
(1,560,051)
78,962
(1.481 .089)
2,872,783
5.464222
~ 3~7 QD2
GENERAL FUND
STATEMENT OF REVENUES. EXPENDITURES.
AND CHANGES IN FUND BALANCE. BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31. 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 1)
GENERAL
VA1?lANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes 31,600.824 s 31,425.590 s (175.234) $ 29.860.285
Ucenses And Permits l,518,800 2,058.472 539,672 2.574.275
lntergovernmenta! Revenues 1.706,000 1,899.550 193,550 l ,923,024
Charges For Services 3.790.550 4,149,310 358.760 4, 130,024
Fines And Forfeits 789,600 959.047 169,447 903,864
Contributions 15,000 101,783 86,783 36,193
Interest 918.000 1.491,789 573.789 l ,108224
Miscellaneous Revenues 24,000 157,877 133.877 64,253
TOTAL REVENUES 40,362.774 42.243.418 1,880,644 40,600, 142
EXPENDITURES
Current
Genera! Government 9,468,064 8,979.435 488.629 8,513,589
Security Of Persons And Property 24250,184 23569,864 680,320 22,889,748
Physical Environment 1,947.827 1,878,956 68,871 l ,769,642
Economic Environment 3,882.905 3,485-129 397 ,776 3,346,564
Mental And Physical Hea!th 10,500 6,756 3,744 8,599
Culture And Recreation 12L630 176,966 (55,336) 25,370
Capito! Outlay 139.795 140.554 (759) 194,350
TOTAL EXPENDITURES 39,820,905 38,237,660 l .583,245 36.747,862
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 541.869 4,005.758 3,463.889 3.852.280
OTHER FINANCING SOURCES (USES) iJ Operating Transfers (Out) (5,500,000) (5,550,000) (50,000) (1,560,051)
Sale Of General Fixed Assets 0 55,168 55,168 78,963
TOTAL OTHER FINA.'\IC!NG SOURCES (USES) (5,500,000) (5,494,832) 5,168 ( l ,481 ,088)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (4,958.131) (1,489.074) 3,469,057 2.31Ll92
FUND BALANCE JANUARY l 7.744,589 7.744,589 0 5.373,397
FUND BALANCE DECEMBER 31 s 2 78Q 42~ s Q2:2:2515 1469 Q57 s 7 744~2
66
SPECIAL REVENUE FUNDS
DECEMBER 31, 2001
Special Revenue Funds account for the proceeds of specific revenue sources other
than special assessments, expendable trust, or major capital projects. These revenues
finance particular activities or functions as required by law or administrative
regulations. The City of Renton's Special Revenue Funds are summarized below.
Park Fund: Accounts for operation of the City's parks and recreation system,
maintenance of municipal buildings and landscaping services for public facilities.
Resources are primarily from general tax revenues and charges for services.
Arterial Street Fund: Established in accordance with RCW 82.36.020 for the
administration of the State levied motor vehicle 112 cent gasoline tax distributed to
Renton. Expenditures are limited by law to capital improvements of City arterial streets.
Street Fund: Established in accordance with RCW 35A.37.0l0 ta account for
maintenance and improvement of the City's street and traffic control systems. Major
sources of support are general tax revenues and the State levied tax on motor vehicle
fuels distributed to 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.
Librgrv 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.
Hotel/Motel Tax Fund: Accounts for monies collected as a result of SSB 5867, which
allows Washington State cities to impose an increase in the hotel/motel tax of up to l
percent for the purpose of increasing tourism. The Renton City Council adopted the
tax on December 15, 1997.
Paths and Trails Reserve Fund: Created for the purpose of planning, accommodating,
establishing and maintaining certain paths and trails. One-half of one-percent ( l /2 of
l %) of the State levied motor vehicle fuel fax distributed to Renton, is allocated to this
fund each year.
One Percent for Art Fund: Established to account for required City's contribution equal
to l % 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.
67
ASSETS
Cash ond Cash Eauivaients
Investments at Fair Vaiue
Recervables:
Accounts
interest on 1nvesrments
Due From Other Funds
Due From Other Governmental Units
TOTAL ASSETS
LIABILiTJES AND FUND EQUITY
LIABIUT1ES·
Vouchers/Contracts Payable
Accrued T oxes Payable
Deposits Payable
Accrued Employee Leave Benefits
1ntertund Loons/ Advances Non-Current
TOTAL UABILIT!ES
FUND EQUITY"
Fund Balance:
Unreserved -Undesignated
TOTAL FUND EQUITY
TOTAL LiABiUT!ES AND FUND EQUITY
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31. 2001
'/VffH C01ViPARATIVE TOTALS FOR DECEMBER 31,
(PAGE 1 OF 2)
PARK
s 3,361 174 s
0
24)44
44.446
0
0
$ 3 43Q 364 s
$ 328,807 s
5.677
23.200
36,043
0
393.727
3,036,637
3,036.637
s 'l. 430 364 s
68
2000
CO~JlMUNiTY
ARTERIAL STREET DEVELOPMENT
STREET BLOCK GRANTS
154,594 $ 1,057,359 87,547
0 0 0
0 7,439 0
1,601 4,003 0
0 23,524 0
0 0 61,038
156195 s 1 092 325 148 S§K
0 s 78,830 17,384
0 291 0
0 0 0
0 23,926 0
0 0 75,000
0 103.047 92,384
156.195 989,278 56,201
156.195 989278 56201
156 199; s 1 092 325 s 148 5~~
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECE~/1BER 31 , 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 2 OF 2)
CABLE COtv'!PARATiVE TOTALS
LIBr~ARY HOTEL! PATHS ONE PERCENT COfv1MUN!CATiONS
& TRAILS FOR ART DEVELOPMENT 200: 2000
$ 195,031 s 269.262 2,1307 s 89287 s 183,188 $ 5,400,249 2,582,945
0 0 0 0 0 0 1 ,808,375
0 0 0 0 0 32,183 9.678
1.433 0 0 0 3.426 54,909 27,486
0 0 0 0 0 23,524 29-876
0 0 0 0 0 61,038 46,192
196 464 $ 269 262 s 2 07 s 89287 s 186614 s 5 571 903 s 4 504 5;;2
s 27.352 $ l,925 s 0 s 0 s 5,980 s 460,278 $ 434,001
1,037 0 0 0 0 7,005 7,473
0 0 0 0 0 23.200 18.430
8,430 0 0 0 0 68.399 71,383
0 0 0 0 0 75,000 75.000
36,819 1,925 0 0 5,980 603,882 606.287
159,645 267.337 2,807 89287 180,634 4,938.021 3.898265
'59,645 267,337 2,807 89287 180.634 4.938.021 3,898265
s 196 464 s 269 262 s 2 !207 $ §9287 s l/2Q614 $ 2 §71 2Q3 $ 4 ~rA 552
69
SPECIAL REVENUE FUNDS
COMBJN!NG STATEMENT OF REVENUES. EXPENDffURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 2001
REVENUES
Taxes
Licenses And Permits
ntergovernrr-.ental Revenues
Charges For Services
Fines And Forfeits
Contributions
Interest
Miscelioneous Revenues
TOTAL REVENUES
EXPENDffURES
Current:
General Government
Transportoti'on
Economic Environment
Culture and Recreation
Capital Outlay
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt
Operating Transfers In
Operating Transfers (Out)
Sole 01' General Fixed Assets
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 2)
PARK ARTERIAL
STREET
s 9,277,822 s 0
0 0
7.500 345,619
778,993 0
0 0
12.492 0
152)14 11fJJ7
502585 0
10,732.106 356.626
2,084,978 0
176,505 0
610,025 0
5.708.944 0
0 0
8,580,452 0
2,151,654 356,626
0 0
0 0
(800,000) (353,500)
0 0
(800,000) (353,500)
1,351.654 3,126
1,684-983 153,069
STREET
3,819.293
40,568
739,186
844,801
0
0
40.805
6.754
5,491.407
0
5,369,085
0
0
0
5,369.085
122-322
0
0
(450,000)
517
(449.483)
(327,161)
l,316.439
COMMUNlTY
DEVELOPMENT
BLOCK GRANTS
0
0
265,389
0
0
0
0
0
265,389
0
0
260,388
0
0
260,388
5,001
0
50,000
0
0
50,0ClO
55,001
1,200 FUND BALANCE JANUARY l
FUND BALANCE DECEMBER 31 $ 3036637 s 156 195 $ 56 201 989 278 s ======="'='
70
I
LIBRARY
$ 1,14 .872 $
0
0
7.740
34,046
2,914
6.584
8
1.193,164
0
0
0
1,355,937
0
1,355.937
(162.773)
0
0
0
I 0
(162,773)
322,418
$ 1Q9~ s
SPECIAL REVENUE FUNDS
COMBINiNG STATEMENT OF REVENUES. EXPEND!TURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31, 2001
VVITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PA.GE 2 OF 2)
ONE CABLE TOTALS
HOTELi PATHS PERCENT COMMUNICATIONS
MOTEL TAX & TRAiLS FOR ART DEVELOPIV\ENT 2001
162.460 0 s 0 s 30DOO 14,431 M7 s
v 0 0 0 40,568
0 0 0 0 1.357.694
0 0 0 0 1.631,534
0 0 0 0 34,046
0 0 0 0 15,406
8,532 0 896 14.532 235,070
0 0 1,500 510,847
'70,992 0 46.032 18.256,612
0 0 0 0 2,084,978
0 0 0 0 5.545.590
119.746 0 0 0 990, 159
0 0 0 18,158 7.083.039
0 0 15.900 34.992
119,746 0 15.900 15.738.758
0 (15,004) 8,782 2.517.854
0 0 75,000 0 75,000
0 0 13,085 0 63.085
0 0 (13.200) 0 Cl.616,700)
0 0 0 517
0 74,885 0 (1.478,098)
51.246 0 59,881 8.782 1.039.756
216,091 2,807 29,406 171,852 3.898.265
267 ~~7 s 2 §07 $ 89287 $ l§Q 634 $ 4 938 021 $
71
2000
12.816.716
61.558
l ,582234
l ,692,763
33.825
27,399
244.234
455,971
16.914,700
2.135.401
5, 118,420
982.021
6.577/J67
120.973
14,933,882
1.980,818
0
0
(1,003.500)
30,000
(973,500)
1.007,318
2,890.947
3 ~98 265
REVENUES
Taxes
Licenses And Permits
:ntergovernmenral Revenues
Charges For Services
Fines And Forfeits
Contributions
lnterest
Miscellaneous Revenues
TOTAL REVENUES
EXPEND!TURES
Current
General Government
Transportation
Economic Environment
Culture and Recreation
Capitol Outlay
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Long-Term Debt
Operating Transfers In
Operating Transfers (Out)
Sale Of General Fixed Assets
TOTAL OTHER F!NANC!NG SOURCES (USES)
EXCESS (DEFiCIENCV) OF REVENUES
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31. 2001
WITH COMPAi{AT!VE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 7)
BUDGET ACTU/'1
7.621.895 9,277.822
0 0
0 7,500
612.800 776,803
0 0
0 12.492
35JJOO 91,85-6
458,500 481.829
8.728.195 10.648.302
2,190,867 2,085,311
185.225 176,505
616.966 610.211
5.849,912 5.710.447
0 0
8.842.970 8,582.474
(114,775) 2,065,828
0 0
0 0
(800,000) (800,000)
0 0
(800.000) (800,000)
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES (914.775) 1.265.828
l ,693,070 1,693D70
PARK
VARIANCE
FAVORABLE 2000
<UNFAVORABLE> ACTUAL
$ l ,655.927 $ 7.722,882
0 0
7.500 12,825
164,003 763,529
0 0
12,492 '9,393
56,856 97,944
23,329 465.934
l,920,107 9,082,507
105.556 2. 135.079
8,720 154,302
6.755 616,819
139.465 5221.745
0 2.497
260,496 8.130.442
2, 180,603 952,065
0 0
0 0
0 (550,000)
0 0
0 (550.000)
2, 180,603 402.065
0 1.291 .005 FUND BALANCE JANUARY 1
FUND BALANCE DECEMBER 31 $ 778 295 $ 2 958 898 s 2 180 603 $ ===1=6=9=1=0=7=0=
72
' ii
BUDGET
s 0 s
0
338,400
0
0
0
6,000
0
344,400
0
0
0
0
0
0
344,400
0
ii 0
(353,500)
0
(353,500)
(9, 1C-0)
153,069
$ 14J;9Q9 s
SPECIAL REVENUE FUNDS
COMB!NiNG STATEMENT OF REVENUES, EXPENDITURES.
AND CHANGES IN FUND BALANCE. BUDGET AND ACTUAL
YEAR ENDED DECEMBER 3L 2001
ARTERiAL STREET
WITH COMPARfaJ!VE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 7)
VAR!ANCE
FAVORABLE 2000
STREET
VARIANCE
FAVORABLE 2000
ACTUAL <UNFAVORA.BU:> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
0 s 0 s 0 s 3,521,019
0 0 0 20,000
345,619 7,219 337,3i7 718.000
0 0 0 945,490
0 0 0 0
0 0 0 0
7.780 1,780 15,578 90.000
0 0 0 25,000
353,39-9 8.999 352.895 5,319.509
0 0 0 0
0 0 0 5.668.651
0 0 0 0
0 0 0 0
0 0 0
0 0 5,668,661
353,399 8.999 352,895 (349,142)
0 0 0 0
0 0 0 0
(353,500) 0 (353.5C0) (450,000)
0 0 0 0
(353,500) 0 (350.500) (450.000)
(10i) 8.999 (605) (799, 142)
i53.069 0 153,674 1.299.139
l§;i9Q!;t $ 0999 s 153 QQ9 s 499 9?7
73
s 3,819,293 $
39,610
739,186
851.153
0
0
36,670
6,754
5,492.666
0
5.367.859
0
0
0
5.367 ,859
124,807
0
0
(450,()00)
517
(449.483)
(324.676)
1.299,139
974 4Q~ s
298,274 s
19,610
21.186
(94,3-37)
0
0
(53,330)
(18,246)
i73,l57
0
300.792
0
0
0
300.792
473,949
0
0
0
517
517
474.466
0
474 466 s
3,620.368
61.018
721.433
924.454
0
0
61.040
7.706
5.396,019
0
4.968,265
0
0
12,047
4.980.312
415)07
0
0
(100,000)
345)07
953.432
1'?,.991~9
SPECIAL REVEt'~UE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCL BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31 , 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 3 OF 7)
COMMUN!TY DEVELOPMENT BLOCK GRANTS
REVENUES
Taxes
Ucef'!Ses And Permits
!ntergovornmentoi Revenues
Charges For SeNices
Fines And Forfeits
Contributions
Interest
Miscellaneous Revenues
TOTAL REVENUES
EXPENDITURES
Current:
General Government
Transportation
Economic Environment
Culture and Recreation
Capital Outlay
TOT Al EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
lnterfund Loon Proceeds
Operating Transfers In
Operating Transfers (Out)
Sole Of General Fixed Assets
TOTAL OTHER F!NANCiNG SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
FUND BALANCE DECEMBER 31 s
74
BUDGET ACTUAL
0 s 0
0 0
280.575 250,543
0 0
0 0
0 0
0 0
0 0
280,575 250,543
0 0
0 0
280,575 260,388
0 0
42,900 0
323,475 260,388
(42.900) (9,845)
0 0
50,000 50,000
0 0
0 0
50,000 50,000
7,100 40,155
(44991) (44,991)
<37.8912 $ ===='=4=8=3"6")
VARIANCE
FAVORABLE 2000
<UNFAVORABLE> ACTUAL
$ 0 s 0
0 0
(30,032) 346,679
0 0
0 0
0 0
0 0
0 0
(30,032) 346,619
0 0
0 0
20,187 274,084
0 0
42,900 72,000
63,087 346,084
33,055 595
0 0
0 0
0 0
0 0
0 0
33.055 595
0 (45,586)
,,~ 055 $ ===='44=9=9=1=)
I
BUDGET
$ 1,14 ,872 $
0
0
8,000
27.50Cl
1,0QO
7,500
0
], 185,872
0
0
0
1.388.250
LOGO
1,389.250
(203,378)
0
i 0
0
0
0
(203,378)
33WOO
s 128 622 $
LIBRARY
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 4 OF 7)
VARIANCE
FAVORABLE 2000
HOTEL/MOTEL TAX
VAR:ANCE
FAVORABLE 2000
ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE> ACTUAL
l,l4i,872 s 0 1.296.800 s 130,CDO s 162.460 $ 32,460 146/'65
0 0 0 0 0 0 0
0 0 0 0 0 0 0
7,740 (260) 8.539 0 0 0 0
34,046 6.546 33,825 0 0 0 0
2,914 1,914 8,506 0 0 0 0
6.584 (916) 13.757 3,000 8,532 5,532 9,975
8 8 30 0 0 0 0
',193,164 7,272 1.361,457 133,00J 170.992 37.992 156,640
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 170.352 119.746 50,606 90,901
l,357.485 30.765 1.330,267 0 0 0 0
0 lJ)OO rn26 0 0 0 0
',357.485 31.765 l ,337,293 170.352 119,746 50,606 90,901
(164.321) 39.057 24,164 (37 ,352) 51,246 88.598 65,739
0 0 0 0 0 0 0
0 Q 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
(164,321) 39.057 24,164 51.246 88,598 65}39
332.00J 0 307,836 216,091 216.091 0 150.352
1Q7 979 $ 332 IY'JJ s 178 739 $ 267 337 s 88 598 $ 216 091 ========
75
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
V/!TH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 5 OF 7)
PATHS AND TRAILS
VAR!ANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes
Ucenses And Permits
lntergovemmento! Revenues
Charges For SeNices
Fines And Forfeits
Contributions
Interest
Miscellaneous Revenues
TOTAL REVENUES
EXPENDITURES
Current·
General Government
Transportation
Economic Environment
Culture and Recreation
Copitoi Outlay
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
lntertund Loon Proceeds
Operating Transfers in
Operating Transfers (Out)
Sole Of General Fixed Assets
TOTAL OTHE.~ FINANCING SOURCES (USES)
EXCESS (DEF!CIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANC!NG USES
FUND BALANCE JANUARY 1
FUND BALANCE DECEMBER 31
$ 0
0
3.600
0
0
0
0
0
3.600
0
0
0
0
0
0
3,600
0
0
0
0
0
3,600
2.807
s
76
0 s 0 $ 0
0 0 0
0 (3,600) 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 (3h00) 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 (3,600) v
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 (3.600) c
2.807 0 2,807
2 BQ7 $ (J 60-Q1 S ====<"n~ni=
I
BUDGET
s 0 s
0
0
0
0
0
l,300
0
1,300
0
0
0
0
42.200
42200
(40,900)
0
~ i3,100 '
0
0
13,100
(27,800)
29.406
s l "'6 $
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPEND!TURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
WlTH COMPARATIVE TOTALS FOR DECEMBER 31 2Cf'.JO
(PAGE 6 OF 7)
ONE PERCENT FOR ART CABLE COMMUNICATIONS DEVELOPMENT
ACTUAL
0 s
0
0
0
0
0
896
0
896
0
0
0
0
15,900
15.900
(15,004)
75DOO
13,085
(l3,200)
0
74.885
59,881
29,406
89 287 $
VARIANCE
FAVORABLE
<UNFAVORABLE>
0 s
0
0
0
0
0
(404)
0
(404)
0
0
0
0
26.300
26.300
25,896
75,000
(15)
(13200)
0
61,785
87.681
0
87 681 $
2000
ACTUAL
0
0
0
0
0
0
l,576
0
1.576
0
0
0
0
0
0
L576
0
0
0
0
0
l,576
27,830
s
29406 $
77
BUDGET ACTUAL
30.000 s 30,000 $
0 0
0 0
0 0
0 0
0 0
5,500 7-427
1,500 1,500
37.000 38,927
0 0
0 0
0 0
30,500 l8,158
20,000 19,092
50,500 37250
(13.500) 1,677
0 0
0 0
0 0
0 0
0 0
(13,500) 1.677
170,537 \ 70,537
]S7 037 $ 172214 $
VARIANCE
FAVORABLE
<UNFAVORABLE>
0 s
0
0
0
0
0
1,927
0
1.927
0
0
0
12,342
908
13.250
15,177
0
0
0
0
0
15,177
2000
ACTUAL
30,000
0
0
0
0
0
8.934
1,&JO
40.434
0
0
0
29,280
27.401
56,681
(16,247)
0
0
0
0
0
(16.247)
0 186,784
1s 177 s ===='=10,.,.,s3,.1=
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES !N FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 7 OF 7)
TOTALS
VARIANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes s 12,444,786 $ 14,431.447 $ l,986,661 $ 12,816,715
licenses And Permits 20,000 39 ,610 19,610 6),018
lntergovernrnenta! Revenues l ,340-575 1.342,848 2273 1,418,254
Charges For Services 1,566,290 l ,635,696 69A06 1,696,522
Fines And Forfeits 27,500 34,046 6,546 33,825
Contributions 1,000 15,406 14,406 27,899
Interest 148,300 159,745 11,445 208,804
Miscel!aneous Revenues 485,000 490,091 5,091 475, 170
TOTAL REVENUES 16.033,451 18,148,889 2,115,438 16,738.207
EXPENDITURES
Current:
General Government 2,190,867 2,085,311 105,556 2, 135,079
T ransportotion 5,853,876 5,544,364 309,512 5, 122,567
Economic Environment l ,067,893 990_345 77,548 981.804
Culture and Recreation 7,268,662 7.086,090 !82,572 6,581,292
Capita! Outlay 106.100 34,992 71,108 120,971
TOTAL EXPENDITURES 16.487 ,398 15,741,102 746296 14.941.713
EXCESS CDEF!CiENCY) OF REVENUES
OVER EXPENDITURES (453,947) 2,407 ,787 2,861.734 1.796,494
OTHER FINANCING SOURCES (USE$)
!ntertund Loon Proceeds 0 75,000 75,000 0
Operating Transfers In 63,100 63,085 (15) 0 Ii Operating Transfers (Out) (1,603,500) (L616,700l (13.200) (1,003,500) "
Soie Of General Fixed Assets 0 517 517 30,000
TOTAL OTHER FINANCING SOURCES (USES) (1.540.400) (1,478.098) 62,302 (973,500)
EXCESS CDEFIC!ENCY) OF REVENUES
AND OTHER FiNANCiNG SOURCES OVER
EXPENDJTURES AND OTHER FINANCING USES (1.994,347) 929,689 2.924,036 822,994
FUND BALANCE JANUARY 1 3,851.128 3.851,128 0 3.028,134
FUND BALANCE DECEMBER 3 l $ 18Q6781 s 4.7§0§17 $ 2 924 Q36 $ ~ 8!;21 12§
' :
L.
78
DEBT SERVICE FUNDS
DECEMBER 31, 2001
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.
1997 Limited General Obligation Bond Redemption Fund: Accounts for debt service on
a Council-approved bond issue, which provided funding for the purchase of the new
Renton City Hall in May 1997.
197B 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 Activity Center.
1989 Limited General Obligation Refunding Bond Redemption Fund: Accounts for debt
service on a Council-approved refunding bond issue, which refunded the 1983 limited
refunding bond issue.
1983 Unlimited General Obljgation 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.
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.
79
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER3L 2001
VJ!TH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 1 OF 2)
1989 LIMITED 1983 UNUMITED
1997 LIMITED 1978 UM!TED GO REFUNDING GO REFUNDING
GO BONDS GO BONDS BONDS BONDS
ASSETS·
Cash ano Cash Equivalents s 13,314 s 23.465 s 52,941 5C7,392
Cash With Fisca! Agent 0 0 100,000 0
investments at Fair Value 0 0 0 0
Receivables
Taxes 0 0 0 0
Special Assessments -Current 0 0 0 0
Special Assessments ~ Delinquent 0 0 0 0
Special Assessments -Deferred 0 0 0 0
interest -Special Assessments 0 0 0 0
interest on investments 0 0 0 7h05
Due From Other Funds 0 0 0 0
TOTAL ASSETS $ 13 14 s 234Q5 $ 152941 $ § 14 227
UABIUTIES AND FUND EQUITY:
LIAB!UTIES
Vouchers/Contracts Payable 0 $ 0 s 0 $ 0
Matured Interest Payable 0 0 100,00:J 0
Deterred Revenues 0 0 0
TOTAL UABILIT!ES 0 0 100.000
FUND EQUITY:
Fund Balance
Reserved for Debt SeNice 13.314 23,465 52,941 514.997
TOTAL FUND EQUITY 13,314 23,465 52,941 514.997
TOTAL UAB!UTIES AND FUND EQUITY 13 314 s 2~4Q5 s 152 941 514 997
80
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER31.200l
W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 2)
GENERAL SPECIAL SPECIAL COMPARATIVE TOTALS
GOVERNMENT 1989 UNLIM!TED /\SSESSMENT ASSESSfv'lENT
MISC DEBT GO BO~~DS DEBT GUARANTY 2001 2000
s 564,305 549.206 s 608.083 s 156.561 s 2.475,267 s 2.240,329
12,000 10.000 170,000 0 292,000 391,000
0 0 0 0 0 250,391
0 18.093 0 0 18.093 30,884
0 0 0 0 0 682
0 0 658 0 658 22.323
0 0 697,169 0 697.169 1,008,560
0 0 385 0 385 7.156
0 0 4.859 4,859 17.323 5,810
52.332 164 0 0 52.496 127,321
s 628 637 s 577 463 s 1 481 154 s 161 429 3 553 391 s 4 084 456
s 0 0 $ 0 $ 0 $ 0 s 517
12,900 J0,000 170,000 0 292,000 391,000
0 18.093 697.169 0 715,262 1,039.444
12,000 28,093 867.169 0 1,007.262 1,430.961
616,637 549,370 613.985 161,420 2,546.129 2,653,495
616,637 549,370 613,985 161.420 2.546.129 2,653,495
s 628 637 s 577 463 s 1 481 1'14 s 161420 $ 3 553 391 s 4 084 456 =======
8i
DEBT SERVICE FUNDS
COMBINING STAfEJ'~ENT OF REVENUES, EXPENDITURES, AND CHANGES JN FUND BALA~-.JCES
YEAR ENDED DECEMBER 31, 2001
REVENUES
Taxes
Special Assessments
Interest
TOTAL REVENUES
EXPENDITURES
Debt Service:
PrinciPal Retirement
Interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPEND!TURES
OTHER FINANCING SOURCES CUSES)
Proceeds Of Long-T errn Debt
Operating Transfers In
Operating Transfers (Out)
Funds Remitted to Bond Trustee
TOTAL OTHER F!NANCING SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
Residuai Equity Transfers Out
FUND BALANCE DECEMBER 31
l/Vi1H COMPARAT!VE TOTALS FOR DECEMBER 31. 2000
(PAGE 1 OF 2)
1997 UMiTED 1978 LIMITED
GO BONDS GO BONDS
735,766 s 500
G 0
362 3764
736,127 4,264
310,000 0
642.137 3
952,137 3
(216,010) 4261
14,029,950 0
0 0
0 (160,000)
(13.809.431) 0
220,519 (160.000)
4,509 (155,739)
8,805 179,204
0 0
$ 13114 $ 234Q5
82
1989 L!MiTED
GO REFUNDING
BONDS
305.425
0
6,143
311,568
275.000
30,041
305,041
6,527
0
0
0
0
0
6,527
46,414
0
$ s;;; 941
1983 UNUMITED
GO REFUNDING
BONDS
$ 0
0
32.516
32-516
130,000
12,540
142,540
(110,024)
0
0
0
0
0
(110.024)
625.021
0 t
$ §14 997
ij
. ii
DEBT SERVICE FUNDS
COMBINING STATE1v1ENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 3l ,200i
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 2)
GENERAL GOVERN~"1ENT SPEC!AL SPEC!AL TOTALS
MiSCELLANEOUS 1989 UNL!iv11TED ASSESSMENT ASSESSMENT
DEBT GO BONDS DEBT GUARANTY 200'
s 1,323J82 s 523,030 0 s 0 $ 2,888,502
0 0 303,939 0 303,939
27,237 10.403 108.077 13,013 201,515
L35L019 533.433 412.016 13,013 3,393.956
856A47 330.000 185,000 0 2,0$6,447
122254 174,705 21,364 0 1,003.044
978,701 504,705 206,364 0 3.089,49i
372,318 28.728 205,652 13,013 304.465
0 0 0 0 14,029,950
77.650 0 0 0 77.650
(550,000) 0 0 0 (710,000)
0 0 0 0 (13 ,809 ,431)
(472,350) 0 0 0 (411,83i)
(100.032) 28.728 205,652 13.013 (107.366)
716,669 520,642 408.333 148,407 2,653,495
0 0 0 Q 0
s Q1QQ37 549 37Q s Q119!.22 $ 161 4"0 s 2 l.)4Q 1,9
83
2000
3]26,976
377 ,858
218,200
4.323.034
2.481,025
1,205281
3.686.306
636,728
0
77.650
(92.898)
0
(i5248)
621,480
2.987.015
(955.000)
2 QQ149:2
DEBT SERVICE FUNDS
COMB!N!NG STATEtv1ENT OF REVENUES, EXPENDiTURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31. 2001
\l/JTH COMPARAJIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 6)
l 997 L!MITED GENERAL OBLIGAT!ON BOND
VARIANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
REVENUES
Taxes $ 735.765 $ 735.765 $ 0 s 735,000
Special Assessments 0 0 0 0
Interest 0 362 362 236
TOTAL REVENUES 735,765 736.127 362 735,236
EXPENDITURES
Debt SeNiCe:
Principal Retirement 0 310,000 (310,000) 0
interest & Fiscal Charges 735,765 422.411 313,354 737,042
TOTAL EXPENDITURES 735,765 732.411 3.354 737.042
EXCESS (DEFICIENCY) OF-REVENUES
OVER EXPENDITURES 0 3,716 3,) 16 (1,806)
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt 0 793 793 0
Operating Transfers in 0 0 0 0
Operating Transfers (Out) 0 0 0 0
TOTAL OTHER FINANCING SOURCES (USES) 0 793 793 0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES 0 4,509 4,509 (1,806)
FUND BALANCE JANUARY l 8.805 8,805 0 10,61 l
Residual Equity Transfers (Out) 0 0 0 0
FUND BALANCE DECEMBER 31 $ 8805 s 1~~14 s 4 §Q9 s 8!1Q2
84 L
BUDGET
s 500
0
500
0
500
500
0
0
(160,000)
(160,000)
(160J)00)
ii 179.204
0
s 19 2Q4
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES.
AND CHANGES !N FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
VJITH COMPARAT!VE TOTALS FOR DECEMBER 31. 2000
(PAGE 2 OF 6)
1978 LIMITED GENERAl OBUGATION BOND 1989 UMfTED GENERAL OBUGATION REFUNDlNG BOND
s
ACTUAL
500 $
0
3.764
4,264
0
3
3
4.261
0
0
(l60.000)
(160.000)
(155,739)
179,204
0
2~ 4Q," $
VARIANCE
FAVORABLE
<UNFAVORABLE>
0
0
3.764
3,764
0
497
497
4.261
0
0
0
0
4,261
0
0
42 ' s
2000
ACTUA.L
0
0
1 L149
11,149
0
9
9
11,140
0
0
0
0
11,140
203,064
(35.00IJ)
179 2QS
85
BUDGET
305.425
0
0
305,425
275.000
30,425
305.425
0
0
0
0
0
0
46.414
0
s 46414
VARIANCE
FAVORABLE 2000
ACTUAL <UNFAVORABLE> ACTUAL
$ 305,425 $ 0 s 297,000
0 0 0
6.143 6.1£13 3,185
311,568 6.143 300,185
275,000 0 250,000
30,040 385 56.453
305.040 385 306.453
6,528 6.528 (6,268)
0 0 0
0 0 0
0 0 0
0 0 0
6,528 6,528 (6268)
46,414 0 52h82
0 0 0
$ 52 942 s {.)528 s 46414
DEBT SERVICE FUNDS
COMB!N!NG STATEMENT OF REVENUES, EXPENDITURES,
AND CHAi\JGES IN FUND BALAl'.JCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000
(PAGE 3 OF 6)
1983 UNLIMITED GENERAL OBLIGATION REFUND!NG BOND
REVENUES
Taxes
Special Assessments
Interest
TOTAL REVENUES
EXPENDITURES
Debt Service:
Principal Retirement
Interest & Fisco! Charges
TOTAL EXPENDITURES
EXCESS (DEFICiENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINA"IC!NG SOURCES (USES)
Proceeds Of Long-Term Debt
Operating Transfers ln
Operating Transfers (Out)
TOTAL OTHER FINANC!NG SOURCES CUSES)
EXCESS (DEF1C1ENCY) OF REVENUES
AND OTHER FiNANClNG SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
Residua! Equity Transfers (Out)
FUND BALANCE DECEMBER 31 s
BUDGET
135,440
0
7,500
142,940
130,000
12,940
142.940
0
0
0
0
0
0
624,794
0
~£:4 794
86
ACTUAL
$ 0
0
17,415
17,415
130,000
12540
142.540
(125.125)
0
0
0
0
(125,125)
624.794
0
s 499 {2£9
VARIANCE
FAVORABLE 2000
<UNFAVORABLE> ACTUAL
s (135.440) 765,547
0 0
9.915 24,212
(125,525) 789.759
0 730,000
400 37,806
400 767 ,806
(i25,125) 21,953
0 0
0 0
0 0
0 0
(125.125) 21,953
0 602,841
0 0
s ~12~ 1252 s 624 794
I
s
-:. I
$
DEBT SERVICE FUNDS
COMBINING STATErv'IENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
VVITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 4 OF 6)
GENERAL GOVERNMENT MiSCELLANEOUS DEBT 1989 UNLIMITED GENERAL OBLIGATION BOND
VARIANCE VARIANCE
FAVORABLE 2000 FAVORABLE
BUDGET ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE>
850,000 1,398,393 548,393 s l ,382.501 $ 500.585 s 523,017 $ 22,432 $
0 0 0 0 0 0 0
20,000 27,237 7 237 28.730 5.000 10.403 5.403
870.000 1,.125,630 2'55.630 l,41 L231 505,585 533.420 27,835
856,448 856.447 826,026 330,000 330,000 0
128,063 122254 5.809 138,011 175,585 174,705 880
984,511 978.701 5.810 964,037 505,585 504.705 880
(114,511) 446,929 561.MO 447,194 0 28,715 28.715
0 0 0 0 0 0 0
77.650 77,650 0 77.650 0 0 0
(550,000) (550,000) D 0 0 0 0
(472,350) (472,350) 0 77.650 0 0 0
(586,861) (25.421) 561.440 524,844 0 28,715 28,715
589 ,726 589 ,726 0 884.882 520,491 520,491 0
0 0 0 (820,000) 0 0 0
2 §95 $ 564 305 $ 561 :11.Q s Q~9 726 $ 220 491 549 206 $ 28 71§ s
87
2000
ACTUAL
510,365
0
15,609
525.974
315.000
191,216
506216
19.758
0
0
0
0
19,758
if'JJ.733
0
2,Q 491
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES.
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31_ 2001
WITH COMPARAT!VE TOTALS FOR DECEMBER 31 2000
(PAGE 5 OF 6)
SPECIAL ASSESSMENT DEBT SERVICE FUND
RE: VENUES
Taxes
Special Assessments
interest
TOTAL REVENUES
EXPENDITURES
DebtSeNiCe
Principal Retirement
Interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF-REVENUES
OVER EXPENDITURES
OTHER FINANC!NG SOURCES (USES)
Proceeds Of Long~Term Debt
Operating Transfers !n
Operating Transfers (Out)
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANC!NG SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
Residual Equrty Transfers (Out)
FUND BALANCE DECEMBER 31
s
s
88
BUDGET
0 s
309,657
66,411
376.068
195,000
35,995
230,995
145,073
0
0
0
0
-45.073
374.719
0
519792 s
VARIANCE
FAVORABLE
ACTUAL <UNFAVORABLE>
0 s 0
333,056 23,399
101,677 35,266
434.733 58,665
185,000 10,000
21,364 14,63 l
206,364 24.631
228.369 83296
0 0
0 0
0 0
0 0
228.369 83296
374,719 0
0 0
&\;P 08~ s 83 29Q
2000
ACTUAL
0
352,648
120,287
472,935
360,000
44,744
404,744
68,191
0
0
(92.898)
(92,898)
(24,707)
399,426 I 0
374 719
BUDGET
s 0 s
0
0
0
0
0
0
0
0
0
0
0
I 145,659
0
$ 145 QQ9 $
DEBT SERVICE FUNDS
COMB!N!NG STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECElv1BER 31, 2001
WITH COMPARATiVE TOTALS FOR DECEMBER 31, 2000
(PAGE 60F 6)
SPECiAL ASSESSMENT GUARANTY FUND
V.A,RIANCE
FAVORABLE 2000
TOTALS
ACTUA: <UNFAVORABLE> ACTUAL BUDGET ACTUAL
VARIANCE
FAVORABLE
<UNFJ..VORABLE>
0 s 0 s 0 s
0 0 0
5.907 5,907 8,624
5.907 5,907 8,624
0 0 0
0 0 0
0 0 0
5,907 5.907 8,624
0 0 0
0 0 0
0 0 0
0 0 0
5.907 5.907 8,624
145,659 0 237,035
0 0 (100,000)
151 566 $ 907 $ 145 659 s
89
2,527,715 $
309,657
98,911
2,936283
1.786,448
Ll 19273
2.905.721
30,562
0
77.650
(710,000)
(632,350)
(601,788)
2.489.812
0
1 eaa 024 $
2,963,lCD S
333D56
172.908
3,469.064
2,086.447
783,317
2.869.764
599,300
793
77,650
(710,000)
C63L557)
(32,257)
2.489,812
0
2 457 2§~ $
435,385 $
23,399
73,997
532,781
(299.999)
335,956
35,957
568,738
793
0
0
793
569.531
0
0
569 231
2000
ACTUAL
3,690,413
352.648
212,032
4.255.093
2,481,026
1,205.281
3,686,307
568)86
0
77,650
(92.898)
(15,248)
553,538
2,89L274
(955.000)
'4~9§12
THIS PAGE INTENTIONALLY LEFT BLANK
' ;
90
CAPITAL PROJECT FUNDS
DECEMBER 31, 2001
capital Project Funds account for the acquisition or development of major capital
focilities, except those projects financed by proprietary funds. Sources of revenue to
these funds include general obligation bond proceeds, federal and state grants,
general property taxes, interest earnings and transfers from other funds.
Downtown Parking Garqge: Accounts for resources and expenditures related to the
construction of a downtown parking facility. Limited Tax General Obligation Bonds
were issued in 2001 to finance a portion of the construction costs.
Community Development Impact Mitigation Fund: Accounts for monies collected from
developers to offset impacts created by their developments to City facilities.
Fire Impact Mitigation Fund: Accounts for monies collected from developers to offset
impacts created by their developments to City facilities.
Transportation Impact Mitigation Fund: Accounts for monies collected from
developers to offset impacts created by their developments to City facilities.
Leased City Properties Fund: Accounts for revenue and expenditures related to City
property leased to outside entities.
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.
91
CAPff Al PROJECT FUNDS
COMB!NING BALANCE SHEET
DECEtViBER 3 L 2001
W1TH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 1 OF2)
OOVVNTOVV~~ COMMUNITY Fi RE TRAN SP
PARKING DEV IMPACT IMPACT IMPACT
GARAGE MiT!GATIOi;J fvl!T!GAT!ON tv'liTJGATION
ASSETS
Cash and Cash Equivalents 9,717,828 s 1203,705 s 1.028,580 4,17 ; .012
Investments ot Fair Value 0 0 0 0
Receivables·
Accounts 0 0 0 0
Interest on investments 32,022 8.006 28.942 40B50
Due From Other Funds 0 0 0 0
Due From Other Governmental Units 0 0 0 0
:nterfund Loons/ Advances -Non-Current 0 D 0 0
TOT Al ASSETS s 9 749 ~50 s -i 211 711 s 1 Q27 222 s 421l 8Q2
LIAB!UTIES AND FUND EQUITY·
LIABIUT!ES:
Vouchers/Contracts Payable $ 207, 89 0 $ 10.213 0
Retainage Payable 0 0 0 c
Due To Other Funds 0 0 0 0
Accrued Taxes Payable 0 0 0 0
interfund Loans/Advances Non-Current 0 0 0 0
TOTAL liABILIT!ES 207,189 0 10.213 0
FUND EQUITY:
Fund Balance:
Reserved for lnterfund loons/ Advances 0 0 0 0
Unreserved Undesignoted 9,542.661 l.21L7 1 .047.309 4.2 l,862
TOTAL FUND EQUITY 9,542.661 1,211J 1 ,047.309 4.2 1,862
TOTAL liABlliTtES AND FUND EQU11Y s 9 749 85Q s 1 211 7 1 s Q57 522 $ 42 1 862
92
CAPITAL PROjECT FUNDS
COMBINiNG BALANCE SHEET
DECEMBER 31, 2001
\ViTH COMPARATIVE TOTALS FOR DECEMBER 31 _ 2000
(PAGE 2 OF 2)
LEASED MUNICiPAL COMPARATIVE TOTALS
CITY FACILITIES CAP1TAL
PROPERTIES CONSTRUCTION IMPROVEMENT 2001 2000
s 305,477 $ 6,978, 159 $ 6,350,632 29,755,393 s 6.831 .752
0 0 0 0 15,635,737
31,821 0 0 31,821 880
0 51,943 0 161,76-3 142,537
0 52,332 0 52,332 126,943
0 8.600 1.482,481 1,491,081 L960S21
0 920,000 0 920,000 L 180JJOO
$ 137 298 $ 8011 034 7833113 $ 32412390 25 878 770
s 2.762 s 341.613 s 517,630 s 1,079,407 $ 754,394
4,315 40,643 253,993 298.951 313,594
0 0 22,147 22.147 32,945
36.633 1.571 0 38204 27,096
920,000 0 0 920,000 1.180,000
963.710 383.827 793.770 2,358,709 2,308,029
0 920,000 0 920,000 0
(626,412) 6,707.207 7,039.343 29.133,681 23,570.741
(626,412) 7.627207 7.039,343 30,053,681 23,570,741
$ 337 298 $ 8011034 7§3~113 s 3;;_ 412 39Q $ 25 87§ 77Q
93
CAPITAL PROjECT FUNDS
COMBINING STATEfV\ENT OF REVENUES, EXPENDITURES, AND CHANGES !N FUND BALANCES
VEAR ENDED DECEMBEf< 31. 2001
VJITH COMPARAT!VE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF 2)
DO'fJNTOWN COMMUN!TY FIRE TRANSP
PARK!NG DEV !MPACT IMPACT IMPACT
GARAGE MlTIGATION M!TIGAT!ON MIT!GATtON
REVENUES
Taxes 0 s 0 s 0 s 0
licenses And Permits 0 0 0 0
intergovernmenta: Revenues 0 0 0 0
Charges For Services 0 362,343 405.850 365,038
lnterfund Revenues 0 0 0 0
Contributions 0 0 0 0
interest -30,950 50.463 109,507 259.477
Misce!ianeous Revenues 0 0 0 0
TOTAL REVENUES 130,950 412,806 515,357 624,515
EXPENDITURES
Current;
General Government 0 0 0 0
Transportar1on 0 0 0 0
Economic Environment 0 0 0 0
Capitol Outlay 436,549 4,238 1,955.189 0
Debt Service:
lnteres1 & Fiscal Charges 99,431 0 0 0
TOTAL EXPENDITURES 535,980 4,238 1.955,189 0
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (405,030) 408,568 ( 1,439.832) 624,515
OTHER FINANCING SOURCES (USES)
Proceeds Of Long~Term Debt 5,947.691 0 0 0
Operating Transfers Jn 4,000,00Cl 0 0 0
Operating Transfers (Out) 0 0 0 (941,509)
Sole Of General Fixed Assets 0 0 0 0 II TOTAL OTHER F!NANCING SOURCES (USES) 9,947.691 0 0 (941,509)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPEND!TURES AND OTHER F!NANCING USES 9,542,661 408.568 (l ,439,832) (316,994)
FUND BALANCE JANUARY 1 0 803,143 2,487.141 4,528,856
Residual Equity Transfers In 0 0 0 0
FUND BALANCE DECEMBER 31 s 9"A2 :2.Q1 $ 1 211 71' s 1 047 ~Q9 s 4 211 8~;:?
94
s
I
s
CAPff AL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31. 2001
LEASED
cnv
PROPERTIES
0 s
0
0
1,415
0
0
9,090
593,161
603,666
128.716
0
0
6.545
103.800
239.061
364,605
0
0
0
0
0
364,605
(991,017)
0
£6;26 4121 s
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 2)
MUNICIPAL TOTALS
FACIUTIES CAPiTAL
CONSTRUCTION !M;::iROVEMENT 2001
1. ,323.782 $ 0 $ 1.323.782 $
0 1.967,436 1.967.436
7.385 2.459,357 2.466.742
920 345,963 1,481,529
103,800 0 l 03,800
74h88 0 74,688
351.528 (252.283) 658)32
7.550 10.000
l ,869,653 4,530.473
0 0 128,716
0 8,330,168 8.330,168
9,052 0 9.052
2,798,098 0 5.200,619
0 0 203.231
2,807,150 8,330,168 13,871,786
(937.497) (3.799,695) (5, 184.366)
0 0 5,947.691
1.273.200 1 ,437,009 6,710,209
(42.000) (13,085) (996,594)
6.000 0 6,000
1.237200 1.423,924 11,667,306
299,703 (2,375.771) 6.482,940
7.327.504 9.415,114 23,570.741
0 0 0
7 Q~7 'Q7 s 7 039 343 s ~Q Q§~ 681 $
95
?000
l ,496,583
1,927,599
3,l6L453
2,022,850
0
0
l,193.311
191,852
9.993.648
209,870
5.202.299
8,871
7,131.451
(2,561,843)
0
3,569,911
(1.006.360)
931,442
3.494.993
933, 150
21,682.591
955,000
23 570 741
CAPITAL P.ROJECTS FUNDS
COM8!N!NG STATEMENT OF REVENUES, EXPENDITURES.
AND CHANGES iN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
VJITH COMPARATIVE TOTALS FOR DECEMBEi< 3 l, 2000
(PAGE 1OF6)
DOV'/NTOWN PARKING GARAGE
REVENUES
Taxes
licenses And Permits
intergovernmental Revenues
Charges For Services
Contributions
Interest
Misce!loneous Revenues
TOTAL REVENUES
EXPENDiTURES
Current:
General Government
T ronsportotion
Economic Environment
Capitol Outlay
Debt Service:
Interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FiNANCING SOURCES (USES)
Proceeds Of Long-Term Debt
interfund Loon Proceeds
interfund Loan Repoyrnents
Operating Transfers !n
Operating Transfers (Out)
Soie Of General Fixed Assets
TOTAL OTHER FINANCING SOU,1<CES (USES)
EXCESS (DEF!CiENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY 1
Residual Equity Transfers In
FUND BALANCE DECEMBER 3 l
BUDGET
0 s
0
0
0
0
0
0
0
0
0
0
4,000.000
0
4,000,000
(4.000,000)
0
0
0
4,000,000
0
0
4,000,000
0
0
0
s 0 s
96
VARIANCE
FAVORABLE
ACTUP.1 <UNFAVORABLE>
0 s 0
0 0
0 0
0 0
0 0
66.408 66,408
0 0
66.408 66.408
0 s
0 0
0 0
436,549 3,563,451
99,431 (99.431)
535,980 3.464,020
(469,572) 3,530A28
5,947,691 5,947,691
0 0
0 0
4,000,000 0
0 0
0 0
9,947.691 5,947.691
9,478, 119 9.478,119
0 0
0 0
9 47~ 7 9 9.478 119
2000
ACTUAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0 I 0
0
0
0
0
0
0
0
$ 0
' t
s
i
$
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
W:TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 6)
CO~AMUNiTY DEVELOPMENT !MPACT M!TIGATiON FiRE liv1PACT MITIGAT!ON
VARIANCE
FAVORABLE 2000
BUDGET ACTUAL <UNFAVORABLE> ACTUAL
0 s u 0 s 0
0 0 0 0
0 0 0 0
175,000 362,343 187,343 367,547
0 0 0 0
25,000 35.881 10.881 27.563
0 0 0 0
200,000 398,224 198224 395.110
0 0 0 0
0 0 0 0
0 0 0 0
550.000 4.238 545]62 22.416
0 0 0 0
550.000 4,238 545,762 22.416
(350.000) 393,986 743.986 372.694
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
(350,000) 393,986 743,986 372.694
801,589 801.589 0 428,895
0 0 0 0
4;'21, ~~9 s 1 19557;: s 743 986 s 8Q1 ~9
s
s
97
BUDGET
0
0
0
300,000
0
100,000
0
400,0-00
0
0
0
2,154,000
0
2, 154.000
(l .754,000)
0
0
0
0
0
0
0
(1.754.000)
2.471,291
0
717 s
VAR!ANCE
FAVORABLE
ACTUAL <UNFAVORABLE>
0 0
0 0
0 0
405,849 105,849
0 0
66]47 (33.253)
0 0
472.596 72,596
0 0
0 0
0 0
l,955,189 198,811
0 0
1,955, 189 198.811
(1,482,593) 271.407
0 0
0 0
0 0
0 0
0 0
0 0
0 0
(l ,482.593) 271,407
2,471291 0
0 0
98~ Q98 s 27 J 407
2000
ACTUAL
s 0
0
0
805.358
0
155,099
0
960.457
0
0
0
1,436,825
0
1,436,825
(476,368)
0
0
0
0
0
0
0
(476,368)
2,947,659
0
s "'471 291
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES. EXPENDITURES.
AND CHANGES !N FUND BALANCE. BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31. 2001
V.JITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 3 OF6)
TRANSPORTATJON JMPACT M!TIGATIC}N
REVENUES
Taxes
licenses And Permits
Intergovernmental Revenues
Charges For SeNices
Contributions
Interest
MiScellaneous Revenues
TOTAL REVENUES
EXPENDITURES
Current:
Genera! Government
Transportation
Economic Environment
Capitol Outlay
Debt Service·
interest & Fiscal Charges
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt
interfund Loon Proceeds
lnterfund Loon Repayments
Operating Transfers In
Operating Transfers (Out)
Saie Of General Fixed Assets
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE JANUARY l
Residual Equity Transfers In
FUND BALANCE DECEMBER .31
BUDGET
$ 0
0
0
500,000
0
100.000
0
600.000
0
0
0
0
0
0
600.000
0
0
0
0
.891,627)
0
( 1 .891,627)
( l .291 .627)
4.470.570
0
s 'l.!78943
98
VARIANCE
FAVORABLE
ACTUAL <UNFAVORABLE>
s 0 s 0 $
0 0
0 0
365,038 (134,962)
0 0
235,118 135,118
0 0
600,156 106
0 0
0 0
0 0
0 0
0 0
0 0
600, 156 156
0 0
0 0
0 0
0 0
(941.509) 950,118
0 0
(941.509) 950,118
(341,353) 950274
4.470,570 0
0 0
s 4 ]-')9217 $ 950 274 $
2000
ACTUAL
0
0
0
775.180
0
27iA91
0
1.046.671
0
0
0
0
0
0
1.046,671
0
0
0
0
(1.006,360)
0
(1 ,006,360)
40,311
4,430.259
0
4 470570
Ii
I
L
BUDGET
$ 0 s
0
427,100
180.000
0
0
480.000
0
660.00"°
(232,900)
0
ii 300.000 .
(247.100)
0
0
0
52.900
(180,000)
188,173
0
s 8 17" s
CAPITAL PROJECTS FUNDS
COMBiNiNG STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
\NITH COMPARATVE TOTALS FOR DECEMBER 31 2000
(PAGE 4 OF 6)
LEASED CITY PROPERTIES MUN!CIPAL FACIUTIES CONSTRUCTION
VARiANCE VAR!ANCE
FAVORABLE 2000 FAVORABLE
ACTUAL <UNFAVORABLE> ACTUAL BUDGET ACTUAL <UNFAVORABLE>
0 s 0 s 52,500 s 1250,000 s 1,398,393 s 148,3-93
0 0 0 0 0 0
0 0 0 0 16,021 16,021
1,415 1.415 0 0 920 920
0 0 0 0 74,688 74,688
9,089 9,089 16,675 200,000 346246 146246
566,056 138,956 188,042 0 7.550 7550
576,560 149.460 257,217 1.450.000 1.843.818 393,818
128,716 51,284 209,870 0 0 0
0 0 0 0 0 0
0 0 0 50.000 9.052 40,948
6.546 473,454 617,005 9,166,585 2,781,733 6.384.852
0 0 0 0 0 0
135.262 524.738 826,875 9.216,585 2.790,785 6,425.800
441298 674.198 (569 ,658) (7,766,585) (946,967) 6.819.618
0 0 0 0 0 0
0 (300.000) 700.000 247,100 363.800 116,700
(363.800) (116.700) (123.000) 0 0 0
0 0 0 1,260,000 1.273.200 13.200
0 0 0 0 (42.000) {42,000)
0 0 100 350.000 6.000 (344.00-0)
(363.800) (416,700) 577.100 1,857,100 1,601.()JO (256.100)
77.498 7,442 (5,909,485) 654,033 6.563.518
188,173 0 180)3i 5,888.905 5,888,905 0
0 0 0 0 0 0
;\;Q§Q71 $ Z27 49a $ ia~ \70 $ {2Q ~Qi $ Q~9J8 $ 656~ ~l§
99
2000
ACTUAL
s 1,407-100
0
515.053
0
0
308.090
0
2,230243
0
0
8.871
5.059.270
0
5,068.141
(2.837.898)
0
123.000
(700,000)
2.110.051
0
931,343
2,464,394
(373.504)
5,307.409
955,000
s Q~~2Q~
CAPITAL PROjECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES.
AND CHANGES iN FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
WlfH COMPARATIVE TOTALS FOR DECEl'v!BEi< 31 2000
(PAGE 5 OF 6)
CAPITAL IMPROVEMENTS
REVENUES
Taxes
Licenses And Permits
intergovernmental Revenues
Charges For SeNices
Contributions
interest
Misc el!oneous Revenues
TOTAL REVENUES
EXPEND !TURES
Current
General Governmenr
Transportation
Economic Environment
Cop ital Outlay
Debt Service:
Interest & Fiscal Charges
TOT AL EXPENDITURES
EXCESS (OEF!CiENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds Of Long-Term Debt
lnterfund Loan Proceeds
lnterfund Loon ,'~epoyments
Operating Transfers !n
Operating Transfers (Out)
Sole Of General Fixed Assets
TOTAL OTHER FINANCING SOURCES (USES)
EXCESS (DEFIC1ENCY) OF REVENUES
AND OTHER FINANC!NG SOURCES OVER
EXPENDITURES AND OTHER FINANCING USES
FUND BALANCE jANUARY l
Residual Equity Transfers In
FUND BALANCE DECEMBER 31
s
100
BUDGET
0 $
2,000,000
2,409241
0
0
0
0
4.409.241
0
12,990.063
0
0
0
12.990,063
(8.580,822)
0
0
0
l,445.127
0
0
1.445. 127
(7, 135.695)
7.225,573
0
89878 $
VARIANCE
FAVORABLE
ACTUAL <UNFAVORABLE>
0 s 0
1,967,436 (32,564)
2,870,684 461.443
380,967 380.967
0 0
0 0
10,000 10,000
5,229.087 819.846
0 0
8J40,965 4,649,098
0 0
0 0
0 0
8,340,965 4.649.098
(3. 111,878) 5,468.944
0 0
0 0
0 0
1,437,009 (8,118)
(13,085) (13,085)
0 0
l .423.924 (21.203)
(J,687,954) 5,447,741
7,225,573 0
0 0
5227:219 $ 2447.741
2000
ACTUAl
s 0
1,927 ,599
2.936,753
30,778
0
0
0
4.895.130
0
5,207.795
0
0
0
5207.795
(312,665)
0
0 ii 0
1.506]97
0
363,282
l,870.079
1.557,414
5,66$,159
0
s 7 22:: ~!3
$
i
s
CAPiTAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES \N FUND BALANCE, BUDGET AND ACTUAL
YEAR ENDED DECEMBER 31, 2001
WITH CO~vlP,ARATiVE TOTALS FOR DECEMBER 3 , 2000
(PAGE 60F 6)
TOTALS
VARIANCE
FAVORABLE
BUDGET ACTUAL <JNFAVORABLE>
1250.000 $ 1,398,393 i48,393
2,000.000 J ,967.436 (32,564)
2,409,241 2.886,705 477.464
975.000 l.516.532 541,532
0 74,688 74,688
425,000 759,489 334,489
427,100 583.606 156,506
7,486.341 9,186,849 1,700,508
180,000 128,716 51284
i2,990.063 8,340,965 4.649.098
50,000 9,052 40,948
16,350,585 5,184.255 11.166,330
0 99.43 l (99,431)
29,570.648 13,762,419 15,808229
(22,084,307) (4,575.570) 17 ,508,737
0 5,947,691 5,947,691
547,100 363,800 (183,300)
(247,100) (363,800) (116,700)
6,705,127 6)10,209 5,082
(1.891,627) (996,594) 895,033
350,000 6.000 (344,000)
5,463,500 11.667.306 6203,806
(16.620.807) 7,091 .736 23,712.543
21,046,101 21,046,101 0
0 0 0
4 42§ 294 s 2~ 137 a~7 s 2~.71~ ~~3 s
lOi
2000
ACTUAL
l ,459,600
1,927,599
3,451,806
1.978.863
0
778,918
188,042
9.784,828
209,870
5.207 ,795
8,871
7,135,516
0
12,562,052
(2,777.224)
0
823,000
(823.000)
3,616,848
(l ,006,360)
1.294,725
3.905213
1.127.989
18,963, 112
955,000
z1049101
THIS PAGE INTENTIONALLY LEFT BLANK
102
ENTERPRISE FUNDS
DECEMBER 31, 2001
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 users 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-Wily 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 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.
103
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER31.2001
\/VlTH COMPARATIVE TOTALS F-OR DECEMBER 31, 2000
(PAGE 1OF2)
WATERWORKS AIRPORT SOUD VJASTE
UTILITY JT!UTV
ASSETS:
Current Assets:
Cash and Cash Equivo!ents $ 2,017.438 $ 3,360,738 411 .454
Investments at Fair Voiue 0 0 0
Receivables·
Accounts 3,798,581 143,949 641.785
interest on investments 4,276 39,116 2,566
Notes Receivable Current 0 0 0
Due From Other Funds 0 0 0
Due Frorn Other Governmental Units 309205 599,210 40,757
Inventory of Material and Supplies 272.493 0 0
Total Current Assets 6,401,993 4,143,013 1,096,562
Restricted Assets:
Deposits 25.439 0 0
Revenue Bond Debt SeNice 4,232,670 0 0
Construction Account 0 0 0
Total Restricted Assets 4,258,109 0 0
Nore Receivable~ Non-Current 0 0 0
Property. Plant and Equipment
Fixed Assets (Net) 152,040.666 4,488,593 51.410
Construction !n Progress 4,030.837 909,760 0
Total Property, Plant and Equipment 156,071.503 5,398,353 51,410
Deferred Charges and Other Assets 32,000 0 0
TOTAL ASSETS s 16:2 7~QQ5 s 9541 366 s 1 147 972
LIABILITIES AND FUND EQUITY:
LiAB!LITiES:
Current Liabilities:
Vouchers/Contracts Payable s 611,920 s 346,161 s 208,537
Retoinage Payable 301,755 5,989 0 I Due To Other Funds 4,409 4,346 0
Due To Other Governmental Units 504,807 0 0
Accrued interest Payable 220.138 0 1,098
Accrued Wages Poyabie 24.897 LWl 227
Accrued Employee Benefits Payable 2.345 129 21
Accrued Taxes Payab1e 56.069 37,331 32,008
Deferred Revenues 92,330 59,916 0
Capita: Leases Payable -Current 0 0 0
Tota! Current Liabilities 1,818,670 455235 241,891
Llabiiities Payable from Restricted Assets:
Deposits Payable 25,439 0 0
Revenue Bonds Payable -Current Portion L805,000 0 0
Total Liabilities Payable from Restricted Assets UlJ0,439 0 0
Long Term liabilities·
Revenue Bonds Payabie 16,935,000 0 0
Unamortized Discounts on Revenue Bond (783,463) 0 0
Accrued Employee Leave Benefits 333.957 36.363 2.281
Capitol Leases Payable 0 0 0
Public Works Trust F-und Loon Payable 7 389,550 0 J
Total Long Term Uabilihes 23,875D44 36,363 2281
TOTAL UABlL!TiES 27,524.153 491,598 244.172
FUND EQUITY· [ Contributed Capital 1·2,116,546 2,529.753 166,166 £_-,
Retained Earnings·
Reserved 8, l82J6) 0 0
Unreserved 18,940.145 6.520,015 737.63-4
TOTAL FUND EQUiTY 139 ,239 .452 9,049.768 903,800
TOTAL UABIUTIES AND FUND EQUITY $ 166 76'< 605 s 9 541 366 s 1 147 972
,,
104
ENTERPRISE FUNDS
COMBiNiNG BALANCE SHEET
DECEMBER 31, 2001
VVITH COMPARAT:VE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 2)
COMPARATIVE TOTALS
GOLF
COURSE 2001 2000
$ L019,460 6.809,090 s 6.330546
0 0 4,080,313
83.240 4,667,555 4,048,519
4.276 50,234 85,100
21,041 21,041 23,472
0 0 87
0 949, 172 416.394
85.807 358,300 389.063
1.213,824 12,855,392 15.373,494
0 25,439 32,329
441,358 4,674.028 4.991,315
0 0 1.260,390
441.358 4,699,467 6.284.034
0 0 21,041
8.875.290 165,455,959 154,448,185
28.787 4.969.384 5,119,753
r 8.904.077 170,425,343 159,567,938
62.464 94,464 48,000
t,, s 10 621 723 s 188074 ~Q s 1a1 294 so7
$ 18,790 s 1.185.408 s l.283.900
I 510 308,254 85.256
0 8,755 1,904
0 504,807 706, 124
17,546 238,782 260,553
3,254 29.741 27,370
306 2,801 3.372
3S86 129,394 102.817
0 152246 171.515
38.418 38,418 40,954
82,810 2.598,606 2.683.765
74,859 100.298 160,569
225,iY'J) 2.030.000 ] ,950.000
299,859 2,130298 2.110,569
4.105.000 21,040,000 23,070,000
(454,687) (1,238.150) (1,412,476)
34,552 407,153 387.037
7.238 7.238 45.656
0 7,389,550 8.009.825
3,692,103 27.605.791 30,100,042
4,074.772 32,334,695 34,894,376
1,412,225 116,224.690 108,362,378
441,358 8.624,119 10,922.088
4,693,368 30,891.162 27.115.665
6.546,951 155.739,971 146.400.131
s 10 621 723 $ 1/1~Q74~ 't.P ~94 ~Q7
105
ENTERPRISE FUNDS
COMBiN!NG S1ATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE VEAR ENDED DECEMBER 31. 2001
VJ!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1OF2)
VJATERWORKS SOLID 1..-VASTE
UTILITY AIRPORT UTlLITY
OPERATING REVENUES:
Charges for Services $ 20.495,611 s 841.730 8.409,534
Other Operating Revenue : .203.480 14,0iG 4,838
TOTAL OPERATING REVENUE 21,699.091 855,740 8.414,372
OPERATING EXPENSES:
Operations Or!d Maintenance 12.463,725 471,211 7 ,692,256
Administrative and Genera 1,853,671 148,875 0
Insurance 0 18.000 Q
Taxes J ,734.324 0 l ,078,777
Depreciation 3.66L458 18L268 25.931
TOTAL OPERATING EXPENSES 19.713.178 819,354 8.796,964
OPERATING INCOME (LOSS) 1,985.913 36,386 (382,592)
NON~OPERATiNG REVENUE (EXPENSE)
Interest Revenue 295,154 209.575 28,507
Gain (Loss) on Sole of Assets 0 198 0
Other Non-operating Revenue 88.573 0 40)57
Interest Expense (1,093.550) 0 0
Amortization of Debt Oisco0nt and Expense (77,166) 0 0
NON-OPERATING REVENUE NET OF EXPENSES (786.989) 2fYl.773 69,264
INCOME CLOSS) BEFORE OPERATING TRANSFERS 1,198.924 246.159 (313,328)
Operating Transfers In (Out) (77,650) 0 0
NET INCOME (LOSS) 1.121,274 246, 159 (313,328)
Depreciation Reducing Grant Contributed Capitol 0 167.010 0 I INCREASE (DECREASE) IN RETA1NED EARNINGS l.121,274 413,169 (313,328)
RETAINED EARNINGS, JANUAR\' l 26,001,632 6.106,846 LOSD.962
RETAINED EARN!NGS, DECEMBER 31 27, 122.906 6.520,015 737,634
CONTR!BUTED CAPITAL JANUARY 1 104,721,467 2,062,520 166.166
Capitol Grants 0 634.243 0
AmortiZotion on Capitol Grants 0 (167,010) 0
Other Contribuied Capitol 7,395,079 0 0
CONTRIBUTED CAPITAL, DECENBER 31 112.116.546 2,529.753 166.166
FUND EQUITY, DECEMBER 31 s ]~9 239 42, s 9 Q49 7Q8 $ 2.Q3 800
106
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES. AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31. 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 2 OF 2)
TOTALS
GOLF
COURSE 2001 2000
2, 122,363 s 31,869,238 s 32.486,175
192.633 1,414,961 1.617,301
2.314,996 33,284,199 34,105.476
1.466.738 22.093.930 21.041,065
0 2JJ02,546 1,946,945
0 18.000 70,000
13.286 2.826.387 2.930.181
379.653 4248,310
1.859,677 31.189,173
2.095,026
61.001 594237 928,049
1200 1,398 0
0 129.330 194,780
(26"i'107) (1,354,657) (l.482.023)
0 (77,166) (8(),472)
(198.906) (706B58) (439,666)
256.413 1.388, 168 3.887.342
D 15248
256,413 3.902,590
tA 0 167.010 171.356
256.413 1.477.528 4.073.946
4.878,313 38,037,753
5.134.726 39,515281
1.412.225 108.362,378 102,017,808
0 634.243 128.087
0 (167,010) (171,356)
0 6.387.839
1.412.225 108.362.378
s Q~Q9;21 s 15" 739 971 $ 1464nQ 1~1
107
ENTERPRISE FUNDS
COMBINING STATEMENT OF C1\SH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE l OF 4)
SOLID VVASTE
\fJATERWORKS AIPPORT UTIUTY
CASH FLOWS FROM OPERATING ACT!VIT!ES
Cash Received From Customers s 19.636,504 $ 738,505 s 8,396,547
Cash Rece1'ved From Other Funds for Services 399,652 0 0
Cash Paid to Suppliers for Goods and Services (8,988,506) (30,040) (7,927.809)
Cash Paid to Other Funds tor Goods and Services (2,966221) (57,187) (277.004)
Cash Paid to Employees (2,961,087) (206.236) (136,003)
Cash Paid for City Utility Taxes (1,205,021) 0 (486.291)
Other Operating Receipts 1.203,480 14,010 4.838
Other Non~Operating Receipts 88,573 0 72,515
NET CASH PROVIDED (USED) BY OPERATING ACTIV!TIES 5.207,374 459,052 (353,207)
CASH FLOWS FROM NONCAP\TAL F!NAl'JCiNG ACTIV!TIES:
Operating Transfers From Other Funds 0 0 0
Operating Transfers To Other Funds (77 ,650) 0 0
NET CASH PROV!DED (USED) BY NONCAPITAL FINANCING ACTIVITIES (77.650) 0 0
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES·
Proceeds From So!e of Equipment 0 0 0
Acquisition and Construction of Copitai Assets (1.1,035.783) (856,667) 0
Capirai Contributions 7 ,395,079 0 0
Capitol Grants 0 53,030 0
Principal Payments on Bonds (1.730,000) 0 0
interest Payments on Bonds (Ll 14,588) 0 0
Payments on State Long~Term Loons (821,592~ 0 0
NET CASH PROVIDED (USED) BY CAPITAL F!NANC!NG ACTIV!TIES (10,306,884~ (803.637) 0
CASH FLOWS FROM !NVESTING ACTIVITIES
Proceeds From Sale of investments 1,903,876 2,389.930 252,609
Payments for Investments (34.293) (776.793) (2,450)
I Interest on investments 342-134 202.092 26,119
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 2.211.717 1,815.229 276,278
NET INCREASE (DECREASE) IN CASH AMD CASH EQUIVALENTS (2.966.4432 1 A70.644 (76,929)
CASH AND CASH EQUIVALENTS, JANUARY 1 9,240,990 1,890,094 488,383
CASH AND CASH EQUIVALENTS, DECEMBER 31 s '12Z~ 2'17 $ 1"'QQ7~~ s 4114~
CASH AT THE END OF THE YEAR CONSISTS OF
Cash and Cash Equivalents s 2,017 .438 s 3,360.738 s 41 L454
Cash Restricted for:
Deposits 25,439 0 0
Revenue Bond Debt Service 4232,670 0 0
Construction Account 0 0 0
TOTAL CASH AT THE END OF THE YEAR s h 2zs 2:a1 s < "'QQ 7'3~ s 411 :1~4
108
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2001
WiTH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 2 0F4)
TOTALS
GOLF
COURSE 2001 2C"CJO
s 2.009,614 s 30.781<170 s 31.009,998
D 2.99,652 '107,33.0
('189,883) (17.436238) (16.419,322)
(235-472) {3,535,884) (3.658.490)
(746,875) (4,050.201) (3,852,116)
0 (L69i,312) (l,788,619)
192,633 1.414,961 1,617,301
0 161.088 248,593
730.017 6,043236 7,564,675
0 0 92.898
0 (77 ,650) (77 .650)
0 (77 ,650) 15248
24,672 24,672 21,674
(207 ,079) (15,099,529) (11.134,828)
0 7.395,079 6,387,&39
0 53,030 110,090
(260,954) (l ,990,954) (1,795.666)
(227 ,144) (\,341.732) (l.510,382)
0 (821,592) (445D48)
(670,505) (j 1.781.026) (8.366.321)
351,333 4,897.748 3,150,000
IA
(3,898) (817.434) (1,749,579)
58.758 629,103 902.956
406,193 4,709.417 2,303,377
465.705 (l, 106.023) 1.516,979
995,113 12.614,580 11.097,601
s 1 460 818 s 11508f'57 s J?6i4f80
$ L019,460 s 6,809,090 s 6,330,546
0 25.439 32,329
441.358 4,674,028 4,991,315
0 0 1.260,390
s 1-460 ~l~ $ ]1 &~~::27 $ 12Q14::2~1'\
109
ENTERPRISE FUNDS
COMB!N!NG STATEMENT OF CASH F-LO\JIJS
FOR THE YEAR ENDED DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 3 OF 4)
RECONCiUATiON OF OPERATING INCOME (LOSS) TO NET CASH
PROV!DED (USED) BY OPERATING ACTiViT!ES
Operating income (loss)
Adjustments to Reconcile Operating income (loss)
ro Net Casn Provided (Used) By Operating Activities
Depreciation and Amortization of Deferred Charge
Other Non-Operating Revenue
(Increase) Decrease in Accounts Receivable
(Increase) Decrease in Due From Other Funds/Governmental
(Increase) Decrease in Inventory/Prepaid items
increase (Decrease) in Vouchers/Retainage Payable
Increase (Decrease) in Due to Other Funds/Governmental
Increase (Decrease) in Payables/Other Short Term Liabilities
increase (Decrease) in Customer Deposits
increase (Decrease) in Deferred i~evenues
increase (Decrease) in Accrued Employee leave Benefits
T otol Adjustments
WATERWORKS
1,985.913
3,677.458
88,573
(420,020)
16.764
13,182
(165,991)
2,505
13,388
(6,890)
(30,243)
32,735
3221.461
5207?74 NET CASH PROVIDED (USED) BY OPERATING ACTIVinES $ ==="""'~=
SCHEDULE OF-NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES
Fixed Assets Contributed By Developers
Change in Fair Value of investments
TOTAL NONCASH CAPITAL AND RELATED FINANCING ACTIV!TiES
no
$ 5,969,070
4,345
5973415
AIRPORT
s 36,386
181.268
0
(133254)
0
0
339.122
4,346
18,933
0
10,974
1.277
422.666
$ 459052
$ 0
39,930
~99JQ
s
s
$
SOLID WASTE
UTILITV
(382,592)
25,931
40.757
(11.124)
3L758
0
(57,743)
0
176
0
0
(370)
29,385
r3~3 2072
0
2,607
,7
s
s
s
fNTERPRi_Sf FUNDS
COMBINING STATEMENT OF CASH FLOVJS
FOR THE YEAR ENDED DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE4 OF 4)
GOLF
COURSE
455,319
379.653
0
(54,638)
0
17,58 l
3.\29
0
(4.120)
(53,381)
0
(13,526)
274,698
730017
0
4.345
4J42
s
s
TOTALS
2001 2000
2,095.026 s 4,327,008
4264,3\D 3.856277
129,330 194)80
(619,036) (910,768)
48,522 469.101
30,763 269299
118,517 (410.964)
6,851 (43)87)
28,377 (2,352)
(60271) 19284
(19,269) (194J86)
20.116 (8.8'1 7)
3,948210 3237,667
6 043 230 $ 7 564 671=,
5,969,070 s 4,558,340
51,227 98,207
Q Q'Q 'J,97 s 4 6SQ i;!47
111
THIS PAGE INTENTIONALLY LEFT BLANK
112
INTERNAL SERVICE FUNDS
DECEMBER 31, 2001
Internal service funds are used to account for the financing of goods and seNices
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.
113
INTERNAL SERVJCE FUNDS
COMB!NING BALANCE SHEET
DECEMBER 31, 2001
WITH COMPARATIVE TOTALS FOR DECEMBER 31. 2000
(PAGE i OF 1)
COMPARATIVE TOTALS
EQUIPMENT
RENTAL INSU.[(ANCE 2001 2000
ASSETS
Current Assets
Cash ond Cash Equivalents 3,156,183 s 4,669.342 s 7,825,525 $ 2298,953
Investments at Fair Value 0 l,991,800 1,991,800 4,987, 199
Receivables
Accounts 1,755 1,853 3,608 7,785
Interest on investments 20,103 94,844 114,947 242, 153
Due From Other Governrrentol Units 0 0 0 876
inventory of Material and Suppiies 105,140 0 105,140 101,480
Prepaid lterr-iS 0 3,000 3,000 3,000
Toto! Current Assets 3283.181 6)60,839 10,044,020 7.641A46
Property, P!ont and Equipment·
Fixed Assets (Net) 4,757,594 56.532 4,814,126 4,895,670
Total Property. Piant and Equipment 4}57.594 56,532 4,814,126 4.895.670
TOTAL ASSETS $ 8 040 772 $ Q817371 s 14 858 14Q $ 1~53711Q
UABiLIT!ES AND FUND EQUITY
UABiLITIES
Current Liabilities:
Vouchers/Contracts Payable s 44,819 s 43,656 $ 88.475 $ 145,498
Accrued Wages Payable 2,596 197 2}93 2.452
Accrued Employee Benefits Payable 245 19 264 302
Accrued Taxes Poyabie 56 0 56 361
Deposits Payobie 0 58.316 58,316 3,462
Total Current Liabilities 47,716 102,188 149,904 152,075
Long Term liabilities·
Accrued Employee Leave Benefits 31,632 7.466 39,098 33213
C!airns Incurred But Not Reported 0 1.509,544 1,509,544 1,761,964
Total Long Term liabilities 31,632 1.517.010 1,548.642 1,795, 177
TOTAL LIABIUTIES 79.348 -.619.198 1.698,546 1,947252 Ii
FUND EQUITY·
Contributed Capitol 2.282,377 0 2282,377 2.282,377
Retained Earnings
Unreserved 5,679,050 5,198.173 0,877,223 8,307,487
TOTAL Ft.;ND EQUITY 7 ,961.427 5,198.173 3,159,600 10.589.864
TOTAL UABiLITIES AND FUND EQUITY s 8 Q!.iQ 775 $ Q817~71 $ 4 85~ 146 12 5'<7 116
114
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2001
W!TH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1OF1)
TOTALS
EQUIPMENT
RENTAL INSURANCE 2001 2000
OPERATING REVENUES
Charges for SeNices s 3,073,831 6)76291 s 9,850,122 9.360243
Taxes 0 0 0 75.000
TOTAL OPERATING REVENUE 3.073,831 6,776.291 9.850,122 9.435243
OPERATING EXPENSES·
Operations and Mainterronce 1,268.484 118,078 l,386,562 1,299.704
Berrefit Payments 0 6,050,784 6,050)84 4.464,119
Professional SeNices 0 402,684 402.684 349,043
Administrative and General 317.121 178.051 495,172 477,592
insurance 0 426.931 426.931 398,964
Depreciation 976.426 18.644 995,070 834,121
TOTAL OPERATING EXPENSES 2.562,031 7.195,172 9)57.203 7 ,823,543
OPERATING INCOME (LOSS) 511.800 (418.881) 92.919 1,611,700
NON-OPERATING REVENUE (EXPENSE)
interest Revenue (2,804) 340,577 337,773 572,095
Gain (Loss) on Sale of Assets (43.671) 0 (43,671) 142,782
Other Non~operoting Revenue (Expense) 0 82,715 82,715 (31,596)
NON-OPERATING REVENUE NET OF EXPENSES (46,475) 423.29'2 376,817 683.281
INCOME (LOSS) BEFORE OPERATING TRANSFERS 465,325 4,411 469.736 2.294S81
Operating Transfers In (Out) 0 2, 100.000 2.100,000 0
NET INCOME CLOSS) 465,325 2.104,411 2.569,736 2294,981
RETAINED EARNINGS, JANUARY 1 5,213,725 3.093,762 8.307,487 6D12,506
I RETAINED EARNINGS, DECEMBER 31 5.679,050 5,198-173 l0,877,223 8,307.487
CONTRIBUTED CAPITAL JANUARY 1 2.282.377 0 2.282.377 2.282.377
CONTRIBUTED CAPITAL DECEMBER 31 2.282,377 0 2282,377 2.282,377
FUND EQUITY, DECEMBER 31 s 7 961 427 s 519817~ s ]'l 1596QO s JQ 589 8Q4
115
INTERNAL SERVICE FUNDS
COMBiNING STATEMENT OF CASH FLOWS
FOR THE YEAR-ENDED DECEMBER Jl, 2001
WllH COMPARAT!VE TOTALS FOR DECEMBER 31, 2000
(PAC7E l OF l)
CASH FLOlfJS FROiv\ OPERATING ACTIVITiES
Cosh Received From Other funds for Goods and Services s
Cash Paid to Suppliers tor Goods and Services
Cash Paid to Other Funds for Goods and Services
Cash Paid to Employees
Other Operoring Receipts
Other Non-Operating Receipts
NET CASH PROVIDED (USED) BY OPERATING ACT!V!TIES
CASH FLO\.VS FROM NONCAPITAL FlNANCING ACTll/IT!ES
NET CASH PROV!DED (USED) BY NONCAPITAL FINANCING ACTIVITIES
CASH FLOWS FROM CAPITAL FINANCING ACTIV!TIES
Proceeds From Sole of Equipment
Acquisition and Consrruction of Capitol As.."E!ts
NET CASH PROVIDED (USED) BY CAPITAL FINANCING ACTIVITIES
CASH FLOWS FROM INVESTING ACTiVlTIES
Proceeds From Sale of Investments
Payments for Investments
Interest on Investments
NET CASH PROVIDED (USED) BY iNVESTlNG ACTIVIT!ES
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, JANUARY 1
CASH AND CASH EQUIVALENTS. DECEMBER 31 s
CASH AT THE END OF THE YEAR CONSISTS OF:
Cash and Cash Equivoients s
TOTAL CASH AT THE END OF THE YEAR s
RECONCIUATiON OF OPERATING INCOME (LOSS) 10 NET CASH
PROVIDED (USED) BY OPERATING ACTiViTIES:
Operating income (Loss)
Adjustments to Reconcile Operating Income (loss)
to Net Cash Provided (Used) By Operating Activities
Depreciation
Other Non-Operating Revenue
(increase) Decrease in Accounts Receivabie
(Increase) Decrease in Due From Other tunds/Governmentof
(Increase) Decrease in Inventory /Prepaid !terns
increase (Decrease) in Vouchers Payable
Increase (Decrease) in Payables/Other Short Term Liabilities
Increase (Decrease) in Customer Deposits
Increase (Decrease) in Accrued Emp!oyee Leave Benefits
Increase (Decrease) in Cloirr,s Incurred But \lot Reported
Total Ad;ustments
NET CASH PROVIDED (USED) BY OPERATING ACTIVF!ES s
SCHEDULE OF NONCASH CAPITAL ANO RELATED F!NANC!NG ACTiVITJES-
Change !n Fair Voiue of investments s
TOTAL NONCASH CAP!TAL AND RELATED FiNANCiNG ACTIVITIES s
116
EQUIPMENT
RENT Al
3,079,556
(903,680)
(299,287)
(422.018)
0
876
1,455,447
0
(43.671)
(913,526)
(957,197)
897.597
0
137,905
1.035-502
1.533.752
l ,622,431
J 1212 )~~
3,156,183
3156183
511,800
976,426
0
6,030
876
(3,660)
(40,125)
(89)
0
4,189
0
943,647
l 422 447
20,533
2Q§~:<
INSURANCE
6_829,292
0.156.768)
(186.510)
(100.785)
0
82.7i5
(532,056)
2,100.000
0
0
0
8, 162,678
(6,064,876)
327,074
2,424,876
3,992,820
676,522
4 AQ.9 ;242
s 4,669.342
s 4 669 342
s (418,881)
18,644
82,715
(1,853)
0
0
(16,898)
87
54,854
1,696
C252A20)
(] 13, 175)
\5~2 Q26i
s 77,400
s 77 4QQ
TOTALS
2001 2000
s 9.908.848 s 9,343,520
(8,060,448) (6.624.439)
(485.797) (481,900)
(522.803) (511.772)
0 75,000
83,591 (726)
923,391 1,799,683
2,100.000 0
(43.671) 142,782
(913.526) (990,710)
(957' 197) (847 ,928)
9.060275 1,250,000
(6,064.876) (1,940.021)
464,979 462.744 E'
3,460.378 (227,277) '' 5,526.572 724,478
2,298,953 1,574,475
s 7122~ ~22 2 2912 2~~
'
$ 7,825,525 s 2,298,953
s 7 8?5 52'1 s 2 298 253 ii
s 92,919 s 1 ,611,700
995,070 834,121
82.715 (31.596)
4,177 (2,133)
876 50,870
(3,660) (17.971)
(57 ,023) (175,001)
(2) (864)
54,854 (34,684)
5,885 (11,809)
(252,420'\ (422,950)
830,472 187,983
92~-19' 1 791 ~~
;:
~-
s 97,933 339,517
s 27 92" s 1~9~1z
FIDUCIARY FUNDS
DECEMBER 31, 2001
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 l, 1970.
Primary revenue sources are general property tax allocations in accordance with
actuarial recommendations, fire insurance premium tax and investment interest.
AGENCY FUNDS
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.
Payroll Clearing Fund: Established to account for various payroll liabilities.
117
ASSETS·
Cosh and Cash Equivalents
investments at Fair Value
Receivables
Interest on investments
TOTAL ASSETS
UAB!UT!ES AND FUND EQUiTY:
UABiLITlES:
Vouc.hers/Controcts Payable
Accrued Empioyee Benefits Poyobie
Deposits Payable
TOT AL UAB!UTlES
FUND EQUiTY
Furid Balance·
Reserved for Employees' Pension Benefits
TOTAL FUND EQUITY
TOTAL LIABILITIES AND FUND EQUITY
F!DUCIARY FUNDS
COMBINING BALANCE SHEET
DECEMBER 31. 2001
VJITH COMPARATIVE TOTALS FOR DECEMBER 31 2000
(PAGE 1 OF 1)
PENSION TRUST AGENCY FUNDS
FIREMEN'S SPECIAL PAYROLL
PENSION DEPOSIT CLEARING
91 L183 s 434,991 s 33
6,174.008 0 0
1,135.261 0 0
8 220 452 s 434 991 s 33
0 s 0 $ 0
0 0 33
0 434,991 0
0 434,991 33
8.220.452 0 0
8.220Aa2 0 0
s ~ 220 452 $ 434 991 s '3
118
COMPARATIVE TOTALS
2001 2000
1,346.207 s 1,104,016
6,174.008 6277,071
1.135.261 978.734
s 8 655 476 s 8_359 821
s 0 $ 1,500
33 144
434,991 311,957
435.0?4 313,601
8,220.452 8,046,220
8.220,452 8,046.220
s 12 Q~~ 476 $ 8 ;259 §2i
COMBINING STATE~JIENT OF CHANGES IN ASSETS AND LIABIUTIES
ALL AGENCY FUNDS
YEAR ENDED DECEMBER 31. 2001
(PAGE l OF l)
BALANCE BALANCE
1 /1 /01 ADDIT!ONS DEDUCTIONS 12/31/01
SPECIAL DEPOSIT FUND
ASSETS
Cash and Cash Equivalents s 313.457 s 561,515 s 439.981 $ 434,991
TOTAL ASSETS s 313457 $ 56: §1~ 439 981 434 9-'./1
UABiLlT\ES
Vouchers Poyab!e 1,500 s 373,468 s 374,968 s 0
Deposits Payable 31 L957 561.515 438.48' 434,991
TOTAL LJABIUTIES 313 457 $ 9~4 983 $ 81~;149 $ 434 221
PAYROLL CLEARING FUND
ASSETS
Cash and Cash Equivalents $ 1.:14 $ 0 $ 177 -33
TOTAL ASSETS $ 144 $ 0 $ 17 s -3
LIABILITIES
Accrued Employee Benefits Payable $ 144 s 0 $ 177 $ -33
TOTAL UAB\UTl,ES s 144 s s 177 $ ~3"-
TOTAL· ALL AGENCY FUNDS
ASSETS
Cash and Cash Equivalents $ 313,601 $ 56L515 $ 440, 158 434,958
TOTAL ASSETS s ~1)601 s 5Q1 51§ $ 440 1§~ $ 434 95~
UABIUTIES
Vouchers Payable $ LSOO $ 373,468 $ 374,968 s 0
Deposits Payable 31i .957 561,515 438,481 434,991
Accrued Employee Benefits Payable 144 0 177 -33
TOT AL LIABILITIES s .1J3601 s 934 983 $ 813 626 $ 434 958
Ii
119
ASSETS
Cash and Cash Equivalents
investments
Receivables
·nterest on Investments
TOTAL ASSETS
FUND BALANCE
FiRElv1EN-s PENSION TRUST FUND
STATEfv'lENT OF PLAN NET ASSETS
ASOFDECEMBER31,2001 AND2000
(PAGE 1 OF 1)
s
$
Reserved for Employees' Pension Benefits
TOTAL FUND BALANCE
120
2001 2000
91 L183 s 790,415
6,174,008 6277,071
1,135261 978,734
8 22Q 422 $ 8 046 220
8,220.452 $ 8,046,220
822Q 45~ $ 8.04Q ~20
ADD!TIONS
Others Contnbut1ons
Fire Insurance Premiums
Investment lncorr,e
interest Revenue
TOTAL ADD!TiONS
DEDUCTIONS
Benefit Payments
Adminisrrat:ve and Genera:
TOTAL DEDUCTIONS
NET INCREASE (DECREAvSE)
FIREMEN'S PENS!ON TRUST FUND
STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31 2001 AND 2000
(PAGE 1 OF 1)
s
2001
50,703 s
459,697
510,400
323. 128
13.040
336.168
174232
FUND BALANCE RESERVED FOR EMPLOYEES' PENSION BENEF!TS:
FUND BALANCE JANUARY 1 8D46220
FUND BALANCE DECEMBER 31 s ===s ... 22,.0.,4.,s.,2=
121
2000
44,582
1.427,200
1 471,782
313,035
6-434
319,469
Ll52.313
6.893,907
8 046 220
THIS PAGE INTENTIONALLY LEFT BLANK
122
GENERAL FIXED ASSETS ACCOUNT GROUP
DECEMBER 31, 2001
The General Fixed Assets Account Group is self-balancing and accounts for all the fixed
assets of the City other than those recorded in the enterprise and internal service funds:
or infrastructure assets which are considered public property. Infrastructure includes
items such as roads, bridges. curbs and gutters. streets and sidewalks, drainage systems
and street lighting systems.
123
ASSETS:
:nvestrnent in Joint Venture
Fixed Assets (Net)
Construction !n Progress
TOTAL ASSETS
OTHER CRED!TS:
GENERAL FIXED ASSETS ACCOUNT GROUP
COMPARATIVE BALANCE SHEET
DECEMBER 31. 2001
\IV!TH COMPPJ<ATiVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 OF l)
2001
s 4.087 .259
125,475.631
4.699243
s 134262.133
investments in General F1xe d Assets s 134,262,133
TOTAL OTHER CREDITS s l~4 262 1~3
124
2000
s 2,546,163
120,956220
3,207,433
s 1267Q9§;16
s 126,709,816
s 1~6 7Q9 816
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE
DECEMBER 31, 2001
GENERAL FIXED ASSETS
Lone
Buildings
improvements OTher Than Buildings
Machinery and Equipment
Construction Work in Progress
Joint Venture
TOTAL GENERAL FIXED ASSETS
(PAGE 1 OF 1)
!NVESTtv1ENT IN GENERAL FiXED ASSETS FROM:
General Obligation Bonds
Federa! Grants
State Grants
County Grants
General ,'(evenues
Donations
TOTAL iNVESTMEi'H if'~ GENERAL FIXED ASSETS
12b
$ 28.541 .726
65,777.064
21,878)68
9,278,073
4.699,2L;3
4D87.259
$ ===='=; 3~4~2~6~2=ii13~C!=
$ 39,514,971
6,962,482
2,414.915
5.973,471
76,970, 128
2.426.166
s ==="'""4"2"6"2'=';,, 1!;;3;
FUNCTiON
Genera! Government
Security of Persons/Property
Physical Environment
Transportation
Economic Environment
Cuiture end Recreation
$
TOT/\.L
47,633,998
15,246,346
3,69'2.243
3.626.451
1,871,888
62,191,207
1'34262133 TOTAL GENERAL FIXED ASSETS $ =="°=-"'°'""""=
FUNCTION
General Government
Security of Persons/Property
Physical Environment
Transportation
Economic Environment
Culture and Recreation
TOT AL GENERAL F!XED ASSETS
s
s
GENERAL
FIXED ASSETS
1/01/01
45,472,035
13,531,035
3,826.083
l,664,090
1,943.750
60,272.823
1'~ 7Q281Q
s
s
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTiON AND ACTIVITY
AS OF DECEMBER 31 . 2001
(PAGE 1 OF 1)
IMPROVEMENTS
OTHER THAN
LAND BUILDINGS BUILD!NGS
1.456,463 s 40.961.181 s 594.134
261,249 4,881,591 215.027
0 2,751,874 741.351
759.563 118,218 2,443,761
472,0l6 l,305.507 72.211
25,592.435 15.758,693 17.812,284
2~~1 72Q $ QQ.777 QQ4 s ,1 ~7~ z~
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR ENDED DECEMBER 31, 2001
(PAGE 1 OF 1)
INCREASES
s 3.791.087
3,568,218
0
2. 129.138
39.618
2,401,154
s 1].929~l]~
126
MACHINERY CONSTRUCTION
AND JOINT WORK!N
EQU!PMENT VENTURE PROGRESS
$ 4.339 .625 $ 0 s 282-595
3,838.478 4,087 .259 l ,962.742
199.018 0 0
304,909 0 0
22.154 0 0
573,889 0 2,453.906
s 9 278 Q7~ s 4 Q~7 259 s 4 Q22 ?4~
GENERAL
FIXED ASSETS
DECREASES 12/31 /01
s 1,629, 124 s 47.633,998
1,852,907 15,246,346
133.840 3,692,243
i66.777 3.626,451
111,480 1,871,888 • 482,770 62,191.207
,
4 ~ZQ 89Q $ 1~;129~ 1.11
GENERAL LONG-TERM DEBT ACCOUNT GROUP
DECEMBER 31, 2001
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.
127
GENERAL LONG TERM DEBT ACCOUNT GROUP
COMPARATIVE BALANCE SHEET
DECEMBER 31, 2001
\NiTH COMPARATIVE TOTALS FOR DECEMBER 31, 2000
(PAGE 1 CF 1)
f\SSETS·
Ava!lob!e in Debt Service & Capital Project Funds
Amount To Be Provided Long Terrn Debt Retirement
TOTAL ASSETS
UABiLITiES AND FUND EQUffY:
LIABILITIES
General Ob!igotion Bonds Payable
Special Assessment Debt \filth Government Commitment
Accrued Employee leave Benefits
lnstoliment Purchase Contracts
TOTAL UABIUTIES
128
200'
s 2,546.129
31.103]73
s 33 649 902
s 29,095,583
135,000
4225,611
193J08
3~ 649 2.Q2
2000
s 2.653,495
26,236,595
?§ 890 090
s 24,126.908
320.000
4.224,352
218,830
s 2R A9Q 090
STATISTICAL SECTION
DECEMBER 31, 2001
Presentations included in the Statistical Section of the Comprehensive Annual Financial
Report (CAFR) provide detailed data on the physical, economic, social, and political
characteristics of the reporting government. They are intended to provide CAFR users
with a broader and more complete understanding of the government and its financial
affairs than is possible from the financial statements and supporting schedules included
in the Financial Section. Statistical tables usually cover more than two fiscal years and
often present data from outside the accounting records. Therefore, in contrast to
financial section information, statistical section data are not usually susceptible to
independent audit.
129
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION,
INCLUDING CHANGES IN FUND BALANCES -LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS
(PAGE 1OF2)
Ten Year Annual GenemJ Governmental Revenue Trends
M $70 !----------------------~·--··------~--a-a-f§J_i~
$60 7-------------------------!~~i----~s1J_f_ :~-~-~ -
o $50§--;~-142.6 _ l!!l_~.d:::-::::r ______ j__ _______ L _____ L ____ J
n $40
0 $30
f
$20
D
0 $f0 I
I
0 $0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
DESCRIPTION 1992 1993 1994
REVENUES
Taxes $ 32,869,130 $ 31,204, 165 $ 30,785,983 $
Licenses and Permits l,258,803 1,145,967 1,310,570
Intergovernmental Revenues 2,892,682 4,297,932 4,998,676
Charges for Services 1,610,795 1,437,069 1,543,902
Fines and Forfeits 884,692 881,016 1,107,779
Miscellaneous 3,684,479 2,249,836 2,835,811
TOTAL REVENUES $ 43,200,581 $ 41,215,985 $ 42,582,721 $
EXPENDITURES
General Government $ 5,607,839 $ 5,258,009 $ 5,998,922 $
Security of Persons and Property 13,551,649 15,654,019 17,272,774
Physical Environment 1, 157, 112 1, 163,369 999,985
Transportation 3,074,076 2,937,977 3,422,909
Economic Environment 2,893,077 3, 155,164 3,524,258
Mental and Physical Health 229,013 8,983 10,755
Culture and Recreation 4,291,090 4,603,052 4,946,035
Capital Outlay 4,793,884 549,412 547,281
Debt Service 3,947,606 3,554,238 4,289,678
TOTAL EXPENDITURES $ 39,545,346 $ 36,884,223 $ 41,012,597 $
Other Increases (Decreases) (357,401) ( 1,831,265) (335,802)
Transfer In/Out 0 106,593 0
FUND BALANCE, JANUARY 1 8,726,560 12,024,394 14,631,484
FUND BALANCE, DECEMBER 31 i 12,024,394 i 14,631,484 i 15,865,806 i
Source: City of Renton Finance Department.
130
1995
33,970, 167
1,236,046
4,343,249 • 4,818,352
998,553
3,080,883
48,447,250
7,807,624
17, 187,719
1,520,374
4,947,622
3,606,022
7,843
5,130,721
494,585
3,347,293
44,049,803
(2,336,448)
1260,482)
15,845,156
17,645,673
$
I
$
$
$
$
TABLE 1: GENERAL GOVERNMENT REVENUES AND EXPENDITURES BY FUNCTION,
INCLUDING CHANGES IN FUND BALANCES -LAST TEN FISCAL YEARS,
FOR GENERAL, SPECIAL REVENUE, AND DEBT SERVICE FUNDS
(PAGE 2 OF 2)
Ten Year Annual Genergl Governmental Ending Fund Bglgnce
M $25 ~--------------------------------------------------
D
0 ~ ---------+------~---i-------+-----+------+--------+----+------~
a ~ ----+----·-c------c-----+---~-----f------+------+-----4
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
1996 1997 1998 1999 2000 2001
36,226,318 $ 37,903,857 $ 40,061,373 $ 42,807,838 $ 46,365,818 $ 48,802,624
1,569,007 2,145,849 2,086,727 1,745,899 2,630,315 2,151,168
4,044,611 4, 164,921 4,184,545 3,600,258 3,738,843 3,323,816
5,344,029 5,546,295 7,699,258 5,488,634 5,821,977 5,828,449
958,082 733,561 722,054 831,327 1,008,098 978,717
3,513,802 3,601,057 5,139,563 2,668,990 2,742,896 2,735,525
51,655,849 $ 54,095,540 $ 59,893,520 $ 57, 142,946 $ 62,307,947 $ 63,820,299
8,420,834 $ 8,675,215 $ 9,915,676 $ 9,972,040 $ 10,648,052 $ 11,062,898
18,344,175 19,249,622 20,074,074 21,336,276 22,861,304 23,596,319
1,759,571 1,708,461 1,730,735 1,892,549 1,769,012 1,878,916
4,509,833 4,896,235 4,838,713 5,130,703 5, 118,420 5,545,590
3,022,503 3,414,034 4,060,970 3,792,464 4,327,075 4,477,535
5,746 7,570 10,962 8,486 8,599 6,756
5,429,238 5,592,278 5,804,099 6,159,132 6,602,437 7,260,078
2,302,888 3,496,515 4,881,689 717,037 315,324 176,202
3,933,368 3,547,127 3,413,505 4,053,582 3,686,306 3,089,491
47,728,156 $ 50,587,057 $ 54,730,423 $ 53,062,269 $ 55,336,529 $ 57,093,785
(1,129,720) (5, 110,847) (7,308,428) (2,428,669) (2,469,837) (7,384,7 61)
(544,504) 0 63,110 ( 6,315,060) (955,000) 0
17,645,773 19,899,242 18,296,878 16,005,236 11,342, 184 14,888,765
19,899,242 $ 18,296,878 $ 16,214,657 $ 11,342, 184 $ 14,888,7 65 $ 14,230,518
131
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(PAGE l OF 2)
8 Ten Year Assessed Volootion Trends
$60 r
0 $5.0
c
$4.0 ~d
0 S3.0 t-
D $2.0
1111
0
Sl.O
$0.0 0
1992
DESCRIPTION 1992 1993
ASSESSED VALUE DECEMBER 31:
Real Property Value $2.466.868.427 $2. 730.285,285
Personal Property Value 664, 964.302 699.080.839
TOTAL ASSESSED VALUE 3. 131.832.729 3.429,366, 124
CITY AND OVERLAPPING TAX RATES: (a)
City of Renton: General Levy $3.28917 $3.23416
City of Renton: Special Levy 0.40324 0.41577
City of Renton Total $3.69241 $3.64993
King County 1.79973 2.14039
Port of Seattle 0.34421 0.30518
Hospital District # 1 0.17781 0.16238
Renton School District # 403 2.13257 3.89165
State of Washington 3.54132 3.30069
Emergency Medical Services 0.25000 0.23942
TOTAL PROPERTY TAX RATES $11.93805 $13.68964
PROPERTY TAX LEVIES AND COLLECTIONS
LEVY: (b)
Orlgino! $11.507,994 $12,436. 132
Adjusted 11.408.258 12.333.996
COLLECTIONS:
Current Collections $11.194.251 $11.941.091
Percent of Adjusted Levy 98.12% 96.81%
Delinquent Collections $284.769 $194.799
TOTAL COLLECTION OF CURRENT & DELINQUENT $11.479.020 $12, 135.890
PERCENT OF ADJUSTED LEVY 100.62% 98.39%
OUTSTANDING DELINQUENT TAXES $374. 168 $572.274
PERCENT OF DELINQUENT TAXES TO ADJ LEW 3.28% 4.64%
Source: King County Department of .Assessments.
(a) Property tax rates are in dollars per S 1,000 of taxable property valued at 100%.
(b) Restated for error in reporting for 1'»3 CAFR.
132
1994
$2.756,919.925
673.405, 117
3.430.325,042
$348681
0.36282
$3.84963
2.21546
0.30367
0. 14767
3.60091
3.39960
0.24972
$13.76666
$13. 121,967
12,898,033
$12.654,957
98.12%
$404.787
$13.059.744
101.25%
$410.563
3.18%
1995
$2.904.421.288
675.278,785
3.579. 700.073
$3.55454
0.36408
$3.91862
2.25288
0.29482
0. 15084
3.52218
3.41873
0.24990
$13.80797
$13.971.424
13.799.832
$13.327.749
96.58%
$323.487
$13.651.236
98.92%
$559. 159
4.05%
1996
TABLE 2: ASSESSED VALUE, PROPERTY TAX RATES, LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
1997
State
26%
(PAGE 2 OF 2)
Prooertv Tax Allocgtion
1998
City of Renton
28%
Schools
28%
King county
13%
1%
1999 2000 2001
$2, 933, 904,882 $2, 978,575,856 $3,099, 917,868 $3,543,075,457 $3,830,517,200 $4,3 l 7, l 5 L020
612, 192,280 647,025, 908 725, 191,466 715,425,293 714.803,819 7 45,490,732
3,546,097, 162 3,625,601,764 3,825, 109,334 4,258,500, 750 4,545,321,019 5,062,641,752
$3,60000 $360000 $3,55000 $3,42726 $3,39877 $327385
0,34413 0,38781 0,34608 0,31981 028488 0, 10078
$3,94413 $3,98781 $3,89608 $3,74707 $3.68365 $3,37463
2.20943 2,13173 L85l09 L77385 L6895l ),55218
029211 028261 026466 023898 0,21585 0,19029
0, 15698 0,15959 0,15934 0,15354 0,11830 0,09873
3,71940 3,53615 3.49222 3,78290 3,65397 3,36669
3,49966 3,52499 3,51138 3,35872 3,30278 3,14502
024987 0,25000 n/a 0,29000 027299 0,24624
$14,07158 $13,87288 $13,17477 $13,34506 $12.93705 Sl L97378
$13,898,8 l 8 $14,364,723 $14,822,739 $15,843,325 s 16,658,569 $17,007,993
13,583,469 14, 167,346 14,719,382 15,850,628 16,633,388 16,967,683
$13,359,611 $13,970, 125 $14,511, 118 $15,595,427 $16,337,790 $16,677,882
98,35% 98.61% 98,59% 98,39% 98,22% 9829%
$347,054 $315,345 $211, 113 $215,939 $238,361 $264,579
$13,706,665 $14,285,470 s l 4,722.231 $15,81 l,366 $16,576, 151 $16, 942,461
100,91% 100,83% 100.02% 99.75% 99,66% 99,85%
$435,963 $317,841 $314,989 $354,250 $389,125 $414,348
321% 224% 2,14% 223% 2,34% 2,44%
133
FISCAL
YEAR POPULATION
1992 43,090
1993 43,470
1994 43,970
1995 44,890
1996 45,170
1997 45,920
1998 46,270
1999 47,620
2000 48,270
2001 51,140
TABLE 3: RATIO OF NET GENERAL OBLIGATION DEBTTO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA· LAST TEN FISCAL YEARS
(PAGE 1OF1)
Ten Year R&nton Per Cgpitg Net Bonded Pebf Trends
$700 ---·--· ------------1$~;;-r -------------
$600 1--·~------·--------------1$583_L ------·· r:--~ . . . . -1$539-)
fi49• I $4a2J __ _
$5~-----1$450 r------
fi39D -
$400 ---!$353 ~---!----+···--·····--··-·-+·-···-·+
$300 ~-·-··+-··-···--···---+-------"·--···-·--··-'·----~--------+··---···"
$100 ~-----·--··-·--t-····--~------r·----t----·--·-··-~·---~--·-······~
$0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
DEBT SERVICE NET RATIO OF NET
ASSESSED GROSS FUNDS BONDED BONDED DEBT TO
VALUE BONDED DEBT AVAILABLE DEBT ASSESSED VALUE
$ 3, 131,832, 729 $ 22,318,712 $ J,039,480 $ 21,279,232 0.683
$ 3,429,366, 124 $ 22,258,603 $ 1,288,208 $ 20,970,395 0.613
$ 3,430,325,042 $ 21, 160,297 $ l,373,226 $ 19,787,071 0.583
$ 3,579.700,073 $ 19,065,569 $ l,220,234 $ 17,845,335 0.503
$ 3,546,097, 162 $ 17,382,945 $ l,426,722 $ 15,956,223 0.453
$ 3,625,601, 7 64 $ 30, 121,269 $ 1, 184,279 $ 28,936,990 0.803
$ 3,825, l 09,334 $ 28,486,738 $ l,527,931 $ 26,958,807 0.703
$ 4,258,500,750 $ 26,466,763 $ 2,004,373 $ 24.462,390 0.573
$ 4,545,321,019 $ 24,345,738 $ 2,096,755 $ 22,248,983 0.493
$ 5,062,641,752 $ 29,289,290 $ l,702,901 $ 27,586,389 0.543
Source: State of Washington Office of Program Planning and Fiscal Management,
King County Deportment of Assessments, and City of Renton Finance Deportment.
134
i
NET BONDED
DEBT
PER CAPITA
$ 494
$ 482
$ 450
$ 398
$ 353
$ 630
$ 583
$ 514
$ 461
$ 539
. B
FISCAL
YEAR
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
Source:
$
$
$
$
$
$
$
$
$
$
0
c
0
~
c
0
u
~
0
u
TABLE 4: SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
LAST TEN FISCAL YEARS
(PAGE 1OF1)
Specig! Assessment Bfflinas and Collections
240.03·······-···-· .. ·---···-.-............... --....... --·-··· .. -·----.... · .. ··--
!
210.03 _, -···--"·-·
i11aao%1
::: ~~ ... + ...... -i .. ---+· ......... +...--+·-··-+··-·""'-...._j13783!
,113.93
120.03 +.--.............. ""'.,.. __ ... ;... .......... __.j_ ... _ .... +-.. ---,··· .. ··-·+-··-·-,.----·-I
90.03 +-----+-.. ---······--r-...... _ _, __ ... --.·---+-··· .. ···c-·-.. +· .... --c
60.03 , ... --., .......... ,.. ....... _r·---·--f ... -......... ,---c-.. ·····~ ............. +-·-·-1
30.03
0.03
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
ASSESSMENTS COLLECTION
RECEIVABLE ADDITIONAL ASSESSMENT ASA% -COLLECTION -
1/1 ASSESSMENT BILLING PRINCIPAL INTEREST TOTAL OF BILLING
5,756, 160 $ 0 $ 1,284,581 $ 1,739,087 $ 675,531 $ 2,414,618 187.973 $
3,876,542 $ 1,654,063 $ 737,439 $ 592,131 $ 441,136 $ 1,033,267 140.123 $
5, 110, 162 $ 326,364 $ 889,261 $ 685,629 $ 327,520 $ 1,013, 149 113.933 $
4,750,897 $ 124,294 $ 588,009 $ 908,724 $ 342, 194 $ 1,250,918 212.743 $
4,212,282 $ 0 $ 820,459 $ 1,002,924 $ 607,356 $ 1,610,280 196.273 $
3,209,358 $ 0 $ 471,759 $ 605,594 $ 215,457 $ 821,051 174.043 $
2,603,764 $ 441 $ 392,626 $ 568,553 $ 170,563 $ 739, 116 188.253 $
2,035,652 $ 76,880 $ 471,303 $ 728,920 $ 142,528 $ 871,448 184.903 $
1,383,612 $ 0 $ 311,375 $ 352,649 $ 82,097 $ 434,746 139.623 $
1,030,963 $ 0 $ 293,261 $ 333,056 $ 71,088 $ 404, 144 137.813 $
City of Renton Finance Department.
135
ASSESSMENTS
RECEIVABLE
12/31
4,017,073
4,938,474
4,750,897
3,966,467
3,209,358
2,603,764
2,035,652
1,383,612
1,030,963
697,908
TABLE 5: COMPUTATION OF LEGAL DEBT MARGIN FOR GENERAL AND SPECIAL PURPOSE CAPACITIES
AS OF DECEMBER 31, 2001, AND ALL DEBT CAPACITIES -LAST TEN FISCAL YEARS
(PAGE 1OF1)
Ten Year Debt Capgcttv Trends
$60
Councilmanic
_1
$54.4
,--.--------,
'$48.6i
$50.8j
$45 ·V r,·l 09·-... :.3.3j
$~ ,.. ---
.__......--'"' -I
M
[$3o-:-61~3~2~:-lc_e-ss_L_e_vy~
(Voted)
$0 +.------------c--------,------------. -------------------,-"---------,---------------------,-----
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
GENERAL CAPACITY SPECIAL PURPOSE CAPACITY
PARKS AND UTILITY TOTAL
DESCR!PTlON COUNC!LMAN!C EXCESS LEVY OPEN SPACE PURPOSES CAPACITY
ASSESSED VALUE 12000)1 $5,062.641,752
2.503 of Assessed Value $ NIA $ 126,566,044 $ 126,566.044 $ 126,566.044 $ 379 ,698, 131
l .503 of Assessed Value 75.939.626 175.939.6261 NIA NIA 0
STATUTORY DEBT UMIT $ 75.939.626 $ 50,626,418 $ 126,566,044 $ 126,566,044 $ 379.698.131
Genera! Obligation Bonds $ 25.580.581 $ 3.375.000 $ 140.000 $ 0 $ 29,095,581
Installment Contracts {a) 193,709 0 0 0 193.709
TOTAL DEBT OUTSTANDING $ 25,774,290 $ 3.375.000 $ 140,000 $ 0 $ 29.289.290
Less Amount Available in Debt Service Funds $ 654,025 $ 549.207 $ 499,669 $ 0 $ l,702,901
NET DEBT OUTSTANDING $ 25.120.265 $ 2.825.793 $ 1359.669) $ 0 $ 27.586.389
REMAINING DEBT CAPACITY $ 50,819,361 $ 47,800,625 $ 126,925,713 $ 126,566,044 $ 352, 111,7 42
Source: King County Department of Assessments.
City of Renton Finance Deportment.
(a) Statutory limit= .753 of 13 of assessed value.
136
r
TABLE 6: COMPUTATION OF DIRECT AND OVERLAPPING DEBT-DECEMBER 31, 2001
(PAGE l OF l)
Cttv of Renton Direct and Overlgooing Debt
JURISDICTION
NET DIRECT DEBT:
City of Renton
OVERLAPPING DEBT:
King County
Port of Seattle
$14()
M
$120
i
0 SlOO
n
s
S80
0
f
D $60
0
I
I
a
s
$20 +------4
$0
Renton School District # 403
Sub-Total
TOTAL DIRECT AND OVERLAPPING DEBT
....... . . . . . . . ' ... ' .. . . . . . . . . . . . . . . ' " ..... . . . . . . . . . ' ... '
... " ... . . . . . . . . . . . ' .. . . . . . . . . . . . . . . . . . . . . . .......
NETDEBT
OUTSTANDING
$27,586,389
$644,203,880
$240, 125,000
$158, 141,415
$ l ,042,470,295
$ l,070,056,684
PERCENTAGE
APPLICABLE
TO RENTON
lOCl.00%
2.65%
2.65%
54.04%
10.45%
12.75%
Source: King County Department of Finance and King County Department of Assessments.
137
AMOUNT
APPLICABLE
TO RENTON
$27,586,389
$17.071,403
$6,363,313
$85,459,62 l
$ l 08,894,337
$136,480, 726
TABLE 7: RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDS
TO TOTAL GENrnAL GOVERNMENT EXPENDITURES -LAST TEN FISCAL YEARS
(PAGE l OF l)
Ten Yeor Debt Service to Exoendffure RQflo Trend
6.003
3.003
0.003
1992 1993 1994 1995 1996 1997 1998 1999 2()(X) 2001
lb)
TOTAL GENERAL
RATIO OF DEBT
FISCAL la) (a) TOTAL GOVERNMENTAL
SERVICE TO
YEAR PRINCIPA.L INTEREST DEBT SERVICE EXPENDITURES
EXPENDITURE
1992 $ l.123,341 $ l,355,678 $ 2,479,019 $ 39,545,346 6.273
1993 $ 1,276, 160 $ l,304,215 $ 2,580,375 $ 36,884,223 7.003
1994 $ 1,614,288 $ 916,353 $ 2,530,641 $ 41,012,597 6,173
1995 $ l,720,397 $ 843,051 $ 2,563,448 $ 44,049,803 5.823
1996 $ 1,631,40.S $ 770, 117 $ 2,401,523 $ 47,728, 156 5.033
1997 $ l,619,87!3 $ l,093,294 $ 2,713, 172 $ 50,587,057 5.363
1998 $ l ,499,41!3 $ 1,251,809 $ 2,751,227 $ 54,730.423 5.033
1999 $ 2,019,97.S $ 1,252,437 $ 3,272,413 $ 53,062,269 6.173
2000 $ 2, 121,02.5 $ l, 160,537 $ 3,281,562 $ 55,336,529 5.933
2001 $ 1,901,447 $ 981,680 $ 2,883, 127 $ 57,093,785 5.053
(al Principal and Interest c:Jre based on total GO Bond debt payments.
{b) General Government bpenditures include General, Special Revenue, and Debt Service Funds.
Other Financing Usesond Residual Equity Transfers are not included.
Source: City of Renton Flrtance Department
13B
ii
TABLE 8: REVENUE BOND COVERAGE FOR WATER AND SEWER, AND GOLF SYSTEM BONDS
LASTTEN FISCAL YEARS
(PAGE I OF 1)
Wot&r/Sewer Reyenue Bond Debt Seryice Coverage
4.00
c
0 3.50 l ______ ----------------------------
v
e 3.00
a 2.50
g
2.00 e
R 1.50
a LOO
t
0.50
0
0.00
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
(a) OPERATING NET REVENUE AVERAGE ANNUAL COVERAGE
FISCAL GROSS EXPENSES AVAILABLE FOR DEBT SERVICE (b) IS TO BE
YEAR REVENUE W/0 DEPREC. DEBT SERVICE REQUIREMENTS COVERAGE AT LEAST
WATER AND SEWER REVENUE BONDS:
1992 $ 15,581,113 $ 9,767,486 $ 5,813,627 $ 2.214,024 2.63 1.3
1993 $ 16,809,047 $ 10,478, 147 $ 6,330,900 $ 2,679,581 2.36 1.3
1994 $ 18,266, 154 $ l l,500,657 $ 6,765,497 $ 3,004,180 2.25 l.3
1995 $ 20,781,235 $ 13,187,048 $ 7,594, 187 $ 3,131,174 2.43 l.3
1996 $ 22,842,549 $ 14,750,009 $ 8,092,540 $ 3,173,846 2.55 1.3
1997 $ 22,854,798 $ 14,580,175 $ 8,274,623 $ 3, 151,984 2.63 l.3
1998 $ 23, 126,374 $ 14,877,435 $ 8,248,939 $ 3,155,670 2.61 l.3
1999 $ 23,861,l 59 $ 16,407,442 $ 7,453,717 $ 2,658,909 2.80 L3
2000 $ 25,541,809 $ 15,653,774 $ 9,888,035 $ 2,650,713 3.73 l.3
2001 $ 23,508,826 $ 16,051,720 $ 7,457,106 $ 2,638,201 2.83 L3
GOLF COURSE REVENUE BONDS (c):
1994 $ l,319,025 $ 561,028 $ 757,997 $ 419,334 1.81 1.25
1995 $ l,490,505 $ 767,283 $ 723,222 $ 421, 127 l.72 1.25
1996 $ 2,078,745 $ 1,076,030 $ 1,002,715 $ 431,521 2.32 1.25
1997 $ 2,724,692 $ l,270,849 $ 1,453,843 $ 455,626 3.19 l.25
1998 $ 2,432,929 $ l,355,669 $ 1,077,260 $ 455,742 2.36 1.25
1999 $ 2,252,217 $ 1,278,489 $ 973,728 $ 439,979 2.21 1.25
2000 $ 2,328,044 $ l,320,681 $ 1,007,363 $ 440, 164 2.29 1.25
2001 $ 2,377, 197 $ 1,480,024 $ 897, 173 $ 440,223 2.04 1.25
(a} Gross revenue includes connection charges, system development charges, and latecomer fees.
(b) Bond financing requirements are that fhe average annual coverage is at least 1.3 times the overage 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 l. 1994 and refunded Aprill. 1999.
Source: City of Renton Finance Department.
139
,----------------~-
Finance
Transportation/Utilities
Manufacturing
Wholesale
General Retailing
Construction
Services
Auto Dealers
TABLE 9: CITY OF RENTON RETAIL SALES BY SOURCE
LAST FIVE FISCAL YEARS
(PAGE l OF l)
Changing Sales Tax Composition
(1997 vs 2001)
-6.003 -4.003 -2.003 0.003 2.003 4.003 6.003 8.003 10.003 12.003
1997 1998 1999 2000 2001
SOURCE AMOUNT % AMOUNT % AMOUNT % AMOUNT % AMOUNT
Auto Dealers $326.383, l 00 22.16% $377,585,700 23.04% $371.149,408 24.66% $409, 110,750 24.143 $359,922,566
Services 209,241,100 14.213 181.179,400 11.06% 155.010,916 10.30% 184,010,624 !0.86% 184,448,578
Construction 220,544,200 14.983 271,811,200 16.593 169,985.732 11.303 203.430.733 12.00% 233.809 ,887
General Retailing 370.568,200 25.16% 406.948,500 24.83% 492.673, 912 32.743 568,751,443 33.55% 598,500.227
Wholesale 184,397,100 12.52% 195,404,500 ll .92% 186,629 ,695 12.40% 183,977,330 !0.85% 170,882,622
Manufacturing 76,016,500 5.16% 91,426,300 5.58% 25. !15,537 1.673 25,251,464 1A93 45,099,847
Transportation/Utilities 63, 179,600 4.29% 65.408,900 3.99% 71.933,082 4.78% 82.501, 187 4.87% 56.809,524
Finance 15,307,300 1.043 21.844,900 l.33% 22.901.820 l.52% 27.440.587 l.62% 37.543,871
Other 7.009.500 0.48% 27.034,200 l.65% 9,363.845 0.623 10,546,942 0.62% 10.401,230
TOTALS $ l.472,646.600 100.00% $ l.638.643.600 100.00% $1.504,763,947 100.00% $1.695.021.060 100.00% $ l.697.418,352
Source: City of Renton Finance Department
140
%
21.20%
10.87%
13.77%
35.26%
!0.07%
2.66%
3.35%
2.21%
0.61%
100.00%
TABLE JO: 10 LARGESTTAXPAYERS BASED ON ASSESSED VALUATION
AND PRINCIPAL EMPLOYERS
(PAGE 1OF1)
2001 REAL PROPERTY
ASSESSED
TAXPAYER TYPE OF BUSINESS VALUATION
The Boeing Company Aerospace & Computer Services 740,451,153
PACCAR Heavy Manufacturing 95,306,433
Puget Sound Energy Electric/Gos Utility 68,989,748
Notional Tax Search LLC Tax Consultant/Representative 67,008,200
US West Telephone Utility 34,993,899
Spieker Properties LP Rea! Estate Developer 33,931,821
University Street Properties Office Building 33,043,400
Washington Mutual Bank Retail -Miscellaneous 22,661,800
Rosche One Interests Office Building 21,531, 100
A va!on Bay Communifles Inc Apartment Building 21,206,000
Total Assessed Valuation -Largest Taxpayers $ I, 139, 123,554
Tota! Assessed Valuation -AU Others 3,923,518,198
otal Assessed valuation $ 5,VOL,64 J ,75L
2001
FULL TIME EQUIV.
PRINCIPAL EMPLOYERS TYPE OF BUSINESS EMPLOYEES
The Boeing Company Aerospace & Computer Services 19,463
Valley Medico! Center Medical Services l,488
Renton Schoo! District Public Education 1,307
Federal Aviation Administration Federal Government l,234
City of Renton City Government 679
Wizards of the Coast Retail -Miscellaneous 609
PACCAR Heavy Manufacturing 589
Zones International Computer Hard/Software Retail 571
Wal Mart Store #2516 Retail -Miscellaneous 356
K & l Distributors Wholesale Distributor 338
Total Number of Employees -Principal Employers 26,634
Total Number of Employees -AU Other Employers 18,939
Tota! Employees Working Within Renton 40,J/J
Source: Assessed Va!uatlon: King County Department of Assessments.
Assessed Valuation for Largest Taxpayer: King County Department of Assessments,
Both real and personal property assessment where applicable.
Number of Employees: Estimated based upon City of Renton Business License Records and
individuar inquiry where applicable.
141
PERCENT OF
ASSESSED
VALUATION
14.633
1.883
1.363
1.323
0.693
0.673
0.653
0.453
0.433
0.423
22.503
77.503
]UV.W7o
PERCENT OF
EMPLOYEES
42.713
3.273
2.873
2.713
1,493
1.343
1.293
1.253
0.783
0.743
58.443
41.56%
lw.003
FISCAL
YEAR
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
M
$180
TABLE 11: CONSTRUCTION PERMITS
LAST TEN FISCAL YEARS
(PAGE 1OF2)
New Constructfon Permit Vg!ugtion Trend
$150 ----------------------------~-----------------------------COTHER PERMITS
0
; ! ·.·
n $120
0 $90
D $60
0
I
;[!MULTI FAMILY
-"*'·~ --" i
I $30 ---t!if.!i!t-1 lllCOMMERCIAL
0 L _________ _
$0
1994 1995 1996 1997 1998 1999 2000 2001
NEW CONSTRUCTION ALL NEW
BUILDING PERMITS OTHER PERMITS CONSTRUCTION
COMMERCIAL MULTI FAMILY SINGLE FAMILY COM/MULT!/StNGLE PERMITS
NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR
PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUE PERMITS VALUATION
N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A N/A NIA N/A NIA
26 $ 41,646.451 21 $ 10.755.923 97 $ 13.384,973 531 $ 14.455.415 675 $ 80,242,763
29 $ 43,913.909 16 $ 7.051.996 133 $ 17,464,456 l, 100 $ 11.031,008 l.278 $ 79.461,369
26 $ 38,474,779 27 $ l 1,207,074 192 $ 27,344, 159 l,159 $ 6,684,931 1.404 $ 83.710,943
28 $ 56,368,747 73 $ 40,593,074 249 $ 37.453,977 1.639 $ 14,350,058 1,989 $ 148,765.857
34 $ 25, 191,943 78 $ 36.41 l,387 280 $ 37,017,381 892 $ 10,260,968 1.284 $ 108,881.679
34 $ 32,900,792 32 $ 21,972,362 175 $ 25,902.812 601 $ 6,863,519 842 $ 87,639,485
35 $ 28,312,674 36 $ 32,045,355 351 $ 53,657,095 699 $ 10.596,874 l, 121 $ 124,611,998
9 $ 3,717,968 15 $ 16,635,694 376 $ 57,526, 127 474 $ 5.301,519 874 $ 83,181,308
Source: Construction permits and values ~ City of Renton Building Department.
Note: For 1992 and 1993, the breakout as seen above ls unavailable, but Iota! permits and valuations are shown.
Other permits include plumbing, electrical. mechanical, and sign permits.
Starting September 1997, Combo Building Permits are being issued for new residential construction. This combo permit combines
permits for building, electrical, mechanical, and plumbing.
142
FISCAL
YEAR
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
M
0
n
0
$270
$240
f $120
D $90
0
l $60
a
1992
COMMERCIAL
NO.OF DOLLAR
PERMITS VALUE
N/A N/A
N/A NIA
380 $ 42.431.505
336 $ 23,760,983
314 $ 33. JJ2,674
356 $ 64,142,868
317 $ 56,323.245
277 $ 25,879,237
310 $ 77.340.658
247 $ 27,005,353
TABLE 11: CONSTRUCTION PERMITS
LAST TEN FISCAL YEARS
(PAGE2 OF2)
Ten Year Totgf Consirudfon Petmlt Vg!ugtion lrer!d
1993 1994 1995 1996 1997 1998
ADDITION AU ALTERATION CONSTRUCTION
BUILDING PERMITS OTHER PERMITS
MULTIFAMILY SINGLE FAMILY COM/MULTI/SINGLE
NO.OF DOLLAR NO.OF DOLLAR NO.OF DOLLAR
PERMITS VALUE PERMITS VALUE PERMITS VALUE
N/A N/A N/A N/A N/A NIA
NIA N/A NIA NIA NIA N/A
14 $ 449,075 96 $ 1,697.251 1,990 $ 17.729,294
12 $ 203,450 99 $ 1.856,162 l,618 $ 16,014,437
31 $ 666,046 97 $ 1.679.484 1.652 $ 14.336,769
JJ $ 303, JJ2 96 $ 1.418.804 1,891 $ 24.615,480
14 $ 3.819,252 101 $ 1.549,018 l,960 $ 23.704.320
100 $ 537,329 146 $ 1.889,443 1,761 $ 15,932,899
58 $ 1.027,001 137 $ 2.985.809 l.947 $ 31,477.806
47 $ 1.l59,050 115 $ 1.752.068 1,812 $ 14.989,741
143
1999 2000 2001
All ALTERATION TOTAL
CONSTRUCTION All
PERMITS PERMllS
PERMITS VALUATION PERMITS VALUATION
NIA N/A 3.526 $ 210,500,686
NIA NIA 3,564 $ 98.385,628
2.480 $ 62,307,125 3.155 $ l 42,549.887
2.065 $ 41.835,033 3.343 $ 121.296,402
2,094 $ 49,794,973 3.498 $ 133.505,916
2.354 $ 90,480,264 4,343 $ 239.246,120
2.392 $ 85,395,835 3.676 $ 194,277,514
2.284 $ 44.238.909 3,126 $ 131,878,394
2,452 $ l 12,831.274 3,573 $ 237.443,272
2.221 $ 44,906,212 3,095 < 128.087,520
FISCAL
YEAR
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
p
0
p
u
I
a
t
0
n
n
T
h
0
u
s
• n
d
s
60.0
I
TABLE 12: DEMOGRAPHIC STATISTICS
LASTTEN FISCAL YEARS
IPAGE10Fl)
Jen Year Popu!gffon Trends
50.0 +-----
30.0
1992 1993 1994 1995 1996 1997 1998 1999 2000
SCHOOL LABOR NUMBER NUMBER
POPULATION ENROLLMENT FORCE EMPLOYED UNEMPLOYED
43,090 11,954 25,480 23,680 1,800
43,470 11,988 25,590 23,780 1,810
43,970 11,984 25,490 23,940 1,550
44,890 12,173 26,220 24,720 1,500
45,170 12,333 26,860 25,410 1,450
45,920 12,277 28,190 27, 150 1,040
46,270 12,532 28,990 28,010 980
47,620 12,500 29,537 28,513 l,024
48,270 12,443 29,370 28,300 l,070
51, 140 12,521 28,4IO 26,800 l,610
2001
UNEMPLOYMENT
RATE
7.13
7.13
6.13
5.73
5.43
3.73
3.43
3.53
3,63
5.73
Source: Population -State of Washington Office of Program Planning and Fiscal Management.
School Enrollment -Renton School District 403
Unemployment Rote -Employment Security Department, Labor Market and Economic Analysis
Branch. Labor Market Information Center.
144
DATE OF INCORPORATION
FORM OF GOVERNMENT
TYPE OF GOVERNMENT
LOCATION
LAND AREA
RANK IN SIZE~ STATE OF WASHINGTON
RANK !N SIZE -KING COUNTY
i POPULATION {Officio! April, 2000)
2000 KC CERT OF ASSESSED VALUATION
tor the 2001 Tax Roll Year
CITY EMPLOYEES {Actual Full Time Equivo!ents/FTEJ
ELECTION & VOTER REGISTRA TlON
Number of Precincts
Number of Registered Voters f I 0/25/0l)
FIRE PROTECTION
Are Roting {Washington Survey and Roting Bureau)
Number of Commissioned Fire Fighting Personnel
Number of Stations {includes Dist #25)
Total Fire loss
Number of Ute Support Responses
All Other Responses
Toto! Number of Responses
POLICE PROTECTION
Number of Commissioned Police Personnel
Number of Calls tor Services
Toto! Crimes Reported (Closs!,!!, Ill)
Traffic Accidents-Investigated
All Other Traffic Vlo!ofions
PARKS&. RECREATION
Tota! Acreage
Number of Pofks and P!oygrounds
TABLE 13: MISCELLANEOUS STATISTICS
DECEMBER 31, 2001
(PAGE l OF l)
WASHINGTON STATE
• seottte
•RENTON
•vancouver
September 6, 190 l
Mayor -Council
Non-Charter, Code City
11 Miles south of Seattle
16.9 Square Miles
13
5
51.140
$5,062,641,752
683.l
71
27.672
3
105
5
$1.955,876
6,030
2.386
8,416
86
47,221
8,730
1,766
18.503
1.180
26
145
Spokane•
TRAFFIC SIGNALS
Number of Signatized Intersections
STREETS
Miles of Streets and alleys
UTILITY SERVICES
Wafer:
Total Customers
Total GaHons of Waler Produced
Number of Fire Hydrants
Miles of Water Main
Sanitary Sewer:
Total Customers
Storm Drainage:
Number of Accounts
Miles of Storm Sewers
LICENSE & PERMITS
Business Licenses
Amusement Devices
Special Permits (Peddler)
Animal Licenses (Dog and Cat)
AIRPORT
Area in acres
feet at Aspholtic Concrete Runway
Total Operations
UBRARY
l.Ibrories {Main and Highlands Branch)
Total Registered Borrowers
Toto! Circulation
104
195.64
14,538
2.590,249 .000
3,088
281.5
12,572
12,849
183.7
4,044
151
7
982
167.21
5,379
110,221
2
28.374
382.443
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146