Loading...
HomeMy WebLinkAbout201908, August h:\finance\financial reporting\monthly reports\2019 reports\cover 0819.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: November 1, 2019     TO: Don Persson, Council President  Members of Renton City Council     CC: Denis Law, Mayor  Bob Harrison, Chief Administrative Officer     FROM: Jan Hawn, ASD Administrator     STAFF CONTACT: Misty Baker, Sr. Finance Analyst     SUBJECT: August 2019 Financial Status Report       At the end of August, general governmental revenues show $5.9M or 7.6% over budget.   Revenue source(s) that are higher than expected are:      Property Tax ‐ $123K (pg 2)   Local Retail Sales Tax  ‐ $626K (pg 3)   Criminal Justice Sales Tax ‐ $254K (pg 3)   Gambling Excise Tax ‐ $636K (pg 4)   Real Estate Excise Tax ‐ $1.1M (pg 5)   B&O Tax ‐ $2.2M (pg 5)   Business Licenses ‐ $363K (pg 7)   State Shared Revenue ‐ $620K (pg 8)   Public Safety Services ‐ $159K (pg 9)   Development Service Fees ‐ $245K (pg 10)   Photo Enforcement Program ‐ $641K (pg 12)   Interest and Other Investment Earnings ‐ $417K (pg 13)   Rents, Leases, and Concessions ‐ $179K (pg 14)    On the down side, the revenue source(s) that are underperforming the year to date  budget are:      Utility Taxes ‐ $214K (pg 4)   Franchise Fees ‐ $105K (pg 6)   Building Permits ‐ $486K (pg 7)   Recreation/Farmer’s Market/Events ‐ $402K (pg 10)   Interfund Services ‐ $464K (pg 11)   Civil Penalties ‐ $125K (pg 12)     Don Persson, Council President  Members of Renton City Council  Page 2 of 2  November 1, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 0819.docx   General government expenditures showed a favorable variance of $3.6M or 4.6%. See  page 14 of report for further expenditure over‐spent/savings explanations.    The attached report provides more detailed discussion of each revenue source and our  updated projections for the year.  Please do not hesitate to contact me at x6869 should  you have any questions or any suggestions about the report.      Page 1 of 18   General Governmental Funds $% Beginning Fund Balance 24,413,781$     24,413,781$    31,534,619$       31,534,619$      44,542,987$    44,542,987$ 44,542,987$    ‐                        0.0% OPERATING REVENUES Taxes 79,228,239        50,604,452       79,899,075          51,799,987         82,127,220       53,195,336    58,009,853      4,814,517        9.1% Licenses & Permits 5,985,115           4,198,998          5,499,201             4,158,561            6,004,552          4,364,155       4,101,457         (262,698)            ‐6.0% Intergovernmental 4,210,533           2,333,834          4,162,854             2,482,125            4,744,483          2,502,528       3,032,418         529,890            21.2% Charges for Services 8,588,772           6,031,598          8,531,218             5,898,953            9,491,414          6,622,751       6,179,538         (443,213)            ‐6.7% Fines and Penalties 2,946,849           1,885,502          4,273,192             2,358,201            4,407,750          2,566,670       3,055,518         488,848            19.0% Miscellaneous 3,649,183           2,353,070          3,667,475             2,533,235            2,665,145          1,768,036       2,525,366         757,330            42.8% Other Financing Sources (Transfer‐In, etc) 124,517                98,866                  (282,188)                13,000                   12,962,782       6,125,403       6,130,641         5,238                  0.1% Total Operating Revenues 104,733,207     67,506,319       105,750,828       69,244,062         122,403,346    77,144,879    83,034,791      5,889,912        7.6% OPERATING EXPENDITURES Council 362,101                245,568               377,512                  251,165                414,410               278,323            244,991             33,332               12.0% Executive 1,954,748           1,290,543          2,073,371             1,355,859            2,658,306          1,746,460       1,614,982         131,478            7.5% Emergency Management 569,333                370,942               590,655                  397,472                703,487               466,013            404,824             61,189               13.1% City Attorney 2,088,718           1,384,646          2,216,692             1,467,657            2,393,230          1,585,498       1,547,306         38,192               2.4% Court Services 2,174,217           1,429,897          2,222,633             1,495,645            2,657,710          1,768,367       1,580,230         188,137            10.6% Community and Eco Dvlpmnt Admin 1,351,830           893,461               1,347,568             897,301                1,595,626          1,058,528       953,228             105,300            9.9% Development Services 3,023,728           2,066,905          3,032,130             1,958,078            3,433,532          2,282,073       2,067,658         214,415            9.4% Economic Development 949,467                580,426               833,055                  454,699                2,255,127          1,309,571       656,587             652,984            49.9% Planning 2,815,148           1,787,262          3,022,122             1,971,940            3,346,673          2,155,258       1,967,687         187,571            8.7% Finance 3,132,609           1,817,314          3,427,262             1,957,768            3,606,382          2,075,405       1,969,715         105,690            5.1% City Clerk 1,119,376           751,477               1,274,941             920,872                1,341,087          936,704            892,967             43,736               4.7% Human Resources 1,221,841           800,394               1,268,733             838,119                1,550,649          1,020,150       924,578             95,572               9.4% Police 30,987,047        20,420,879       33,764,563          21,177,791         36,985,051       23,760,473    23,378,271      382,202            1.6% Jail Services 4,807,443           3,203,926          5,970,673             3,981,126            6,239,267          4,159,304       3,844,084         315,219            7.6% Community Services Admin 1,421,803           771,336               1,522,994             936,166                1,577,176          914,505            797,172             117,332            12.8% Parks & Trails 4,926,587           3,099,087          5,026,203             3,273,161            5,411,908          3,464,960       3,442,657         22,304               0.6% Parks Planning & Natural Resources 1,059,058           667,579               1,114,153             716,763                2,495,194          1,589,447       961,693             627,754            39.5% Recreation & Neighborhoods 6,152,644           4,065,751          6,280,121             4,134,302            6,507,457          4,292,005       4,329,407         (37,402)               ‐0.9% Human Services 1,634,387           879,654               1,421,280             900,340                1,507,974          878,428            877,320             1,109                  0.1% Museum 235,712                155,172               245,590                  163,495                252,298               167,045            169,685             (2,640)                  ‐1.6% Public Works Admin 406,781                271,835               417,786                  278,939                425,954               284,518            285,763             (1,245)                  ‐0.4% Street Maintenance 5,603,141           3,780,074          5,676,989             3,605,733            5,894,373          3,859,415       3,653,479         205,936            5.3% Transportation 5,368,887           3,395,218          5,550,779             3,645,151            6,194,559          3,993,893       3,926,094         67,800               1.7% Non‐Departmental and Other 14,245,763        2,160,209          4,064,656             2,039,684            31,298,207       13,717,108    13,717,108       ‐                        0.0% Total Operating Expenditures 97,612,369        56,289,557       92,742,459          58,819,228         130,745,636    77,763,450    74,207,485      3,555,965        4.6% Total Ending Fund Balance 31,534,619$     35,630,543$    44,542,987$       41,959,453$      36,200,697$    43,924,416$ 53,370,293$   9,445,877$     21.5% Favorable (Unfavorable) 2017 2018 2019 Variance Annual Actual YTD Actual Annual Budget YTD Budget YTD ActualSummary of Sources and Uses Annual Actual YTD Actual      Monthly Financial Report August 2019  Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 2 of 18   OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through Aug 30, 2019.  Except as noted,  year‐to‐date budgeted revenues and operating expenditures are generally based on the collection/disbursement patterns for  the same period of the preceding two (2) years.  The table on the previous page summarizes the general governmental funds  revenues and expenditures.    REVENUES    Taxes     Taxes comprise 70% of all resources supporting general governmental activities. Taxes are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Property Tax 7,860,951$      11,065,914$      11,188,552$   3,327,601$   42.3% 122,638$        1.1% Local Retail Sales Tax 18,629,578      18,103,295         18,729,610      100,032           0.5% 626,315           3.5% State Sales Tax Credit ‐ Annexation/LRF 1,619,553          ‐                                   819                        (1,618,734)      ‐99.9%819                     100.0% Criminal Justice Sales Tax 2,002,996         1,872,606            2,126,842         123,846           6.2% 254,237           13.6% Natural Gas Use Tax 107,799              129,773                 172,404              64,605              59.9% 42,631              32.9% Admission Tax 177,613              197,499                 148,486              (29,127)             ‐16.4% (49,013)             ‐24.8% Utility Tax 11,234,772      10,844,376         10,630,655      (604,117)          ‐5.4% (213,721)          ‐2.0% Leasehold Excise Tax 130,789              129,403                 125,063              (5,726)                ‐4.4% (4,339)                ‐3.4% Gambling Excise Tax 1,944,235         1,337,051            1,973,120         28,884              1.5% 636,069           47.6% Real Estate Excise Tax ‐                                2,427,141            3,571,999         3,571,999      100.0% 1,144,859      47.2% B&O Tax 8,091,700         7,088,279            9,342,303         1,250,603      15.5% 2,254,024      31.8% YTD Total 51,799,987$   53,195,336$      58,009,853$   6,209,866$   12.0% 4,814,517$   9.1% Annual Total 79,899,075$   82,127,220$       Taxes by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through August     In the past, some taxes were allocated between the General Fund, Debt Service Fund, and Capital Project Funds. Beginning  in 2019, 100% of tax revenues are accounted for in the General Fund. For comparability purposes, the monthly tables  presented below are shown for total taxes received.    Property Tax  Property Tax revenues are budgeted based on the previous four (4) years’ collection rates. The 2019 property tax levy is  $878K more than 2018, which accounts for the majority of the increase over 2018. Year‐to‐date collections are 1.1% higher  than budget. The City is projecting Property Tax revenues to be slightly over $21.1M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan (12,745)$           17,768$                 39,879$            52,624$           ‐412.9%22,111$           124.4% Feb 106,364            229,128                 192,217            85,853              80.7%(36,911)             ‐16.1% Mar 665,471            563,923                 764,729            99,258              14.9% 200,806           35.6% Apr 6,908,633        5,382,248            7,158,264        249,631           3.6% 1,776,016      33.0% May 2,419,925        4,168,250            2,852,933        433,008           17.9%(1,315,317)      ‐31.6% Jun 108,842            92,118                    (1,679,877)      (1,788,719)      ‐1643.4% (1,771,996)      ‐1923.6% Jul 90,072               317,474                 1,798,442        1,708,370      1896.7% 1,480,968      466.5% Aug 84,185               295,005                 61,965               (22,220)             ‐26.4% (233,040)          ‐79.0% Sep 196,536            270,686                  ‐                               Oct 7,077,878        4,494,739             ‐                               Nov 1,742,104        4,461,073             ‐                               Dec 76,196               592,841                  ‐                               YTD Total 10,370,747$  11,065,914$      11,188,552$  817,805$        7.9% 122,638$        1.1% Annual Total 19,463,461$  20,885,254$       *Total Property Tax (GF & DS) Property Tax* Year to Date through August Month 2019 vs. 2018 2019 vs. Budget   Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 3 of 18   Local Retail Sales Tax  Local Retail Sales Tax revenues are budgeted based on the collection rates for the past five (5) years. Collections at the end  of August are $100k higher than 2018 and are 3.5% above budget. The City is expecting Local Retail Sales Tax revenues to be  $28.3M by the end of the year. The monthly sales tax report provides additional detail on sales taxes by sector.     2018 2019 2019 Actual Budget Actual $ % $ % Jan 2,217,949$     2,172,405$         2,260,685$     42,736$           1.9% 88,280$           4.1% Feb 2,839,044        2,602,634            2,758,295        (80,749)             ‐2.8%155,661           6.0% Mar 2,099,180        2,064,301            2,066,530        (32,650)             ‐1.6%2,229                 0.1% Apr 2,009,648        2,008,608            1,946,020        (63,628)             ‐3.2% (62,588)             ‐3.1% May 2,506,478        2,429,497            2,461,963        (44,515)             ‐1.8%32,466              1.3% Jun 1,997,751        2,105,242            2,060,512        62,761              3.1%(44,730)             ‐2.1% Jul 2,385,665        2,245,590            2,342,886        (42,779)             ‐1.8%97,296              4.3% Aug 2,573,863        2,475,019            2,832,719        258,856           10.1% 357,700           14.5% Sep 2,671,784        2,358,468             ‐                               Oct 2,438,390        2,413,738             ‐                               Nov 2,385,700        2,491,359             ‐                               Dec 2,303,183        2,317,209             ‐                               YTD Total 18,629,578$  18,103,295$      18,729,610$  100,032$        0.5% 626,315$        3.5% Annual Total 28,428,635$  27,684,069$       Local Retail Sales Tax Year to Date through August Month 2019 vs. 2018 2019 vs. Budget     Criminal Justice Sales Tax   King County imposes a 0.1% sales tax for criminal justice purposes (RCW 82.14.340) that is shared with the City on a per  capital basis. These revenues are 6.2% higher than last year and 13.6% higher than budget at the end of August. The City is  expecting Criminal Justice Sales Tax revenues to be $3.3M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 231,017$         217,524$              261,015$         29,998$           13.0% 43,491$           20.0% Feb 297,464            277,788                 305,574            8,110                 2.7% 27,786              10.0% Mar 222,831            210,667                 239,908            17,076              7.7% 29,240              13.9% Apr 210,116            199,844                 214,151            4,035                 1.9% 14,307              7.2% May 264,162            248,880                 276,361            12,199              4.6% 27,482              11.0% Jun 234,959            219,031                 252,414            17,456              7.4% 33,383              15.2% Jul 256,344            231,301                 273,016            16,672              6.5% 41,714              18.0% Aug 286,104            267,570                 304,404            18,300              6.4% 36,833              13.8% Sep 266,961            248,535                  ‐                               Oct 264,875            251,382                  ‐                               Nov 276,624            261,653                  ‐                               Dec 279,563            252,568                  ‐                               YTD Total 2,002,996$     1,872,606$         2,126,842$     123,846$        6.2% 254,237$        13.6% Annual Total 3,091,020$     2,886,744$          Criminal Justice Sales Tax Year to Date through August Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 4 of 18   Utility tax   Utility Tax revenues are underperforming in comparison to both 2018 and budget. Taxpayer changes to their method of  accounting for data charges (non‐taxable) has resulted in decreased taxable activity for cellular utilities. The City is projecting  Utility Tax revenues to be about $15.7M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,380,809$     1,495,807$         1,228,645$     (152,164)$       ‐11.0% (267,162)$       ‐17.9% Feb 1,600,542        1,407,317            1,341,075        (259,467)          ‐16.2% (66,242)             ‐4.7% Mar 1,562,890        1,341,445            765,115            (797,776)          ‐51.0% (576,330)          ‐43.0% Apr 1,447,426        1,563,666            2,292,501        845,075           58.4% 728,835           46.6% May 1,399,812        1,386,171            1,295,860        (103,951)          ‐7.4% (90,311)             ‐6.5% Jun 1,258,549        1,268,379            1,179,491        (79,058)             ‐6.3% (88,888)             ‐7.0% Jul 1,389,799        1,225,268            1,340,108        (49,692)             ‐3.6%114,839           9.4% Aug 1,194,944        1,156,322            1,187,861        (7,084)                ‐0.6%31,538              2.7% Sep 1,189,390        1,185,431             ‐                               Oct 1,283,609        1,504,221             ‐                               Nov 1,074,761        1,130,218             ‐                               Dec 1,441,094        1,397,907             ‐                               YTD Total 11,234,772$  10,844,376$      10,630,655$  (604,117)$       ‐5.4% (213,721)$       ‐2.0% Annual Total 16,223,626$  16,062,153$       2019 vs. Budget Utility Tax Year to Date through August Month 2019 vs. 2018     The table below breaks out Utility Tax by source:  2018 2019 2019 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Electrical 3,553,880$     3,652,205$         3,624,163$     70,283$      2.0% $    (28,042)‐0.8% Natural Gas 1,430,868        1,036,381            999,243            (431,625)      ‐30.2%        (37,139)‐3.6% Cell 853,856            1,094,847            517,518            (336,338)      ‐39.4%     (577,329)‐52.7% Phone 551,728            463,355                 600,909            49,180         8.9%       137,553 29.7% Cable 1,004,744        1,103,395            961,408            (43,336)         ‐4.3%     (141,987)‐12.9% Garbage 492,831            444,618                 550,006            57,175         11.6%       105,388 23.7% City Utilities 3,346,865        3,049,575            3,377,410        30,544         0.9%       327,834 10.8% YTD Total 11,234,772$  10,844,376$      10,630,655$  (604,117)$  ‐5.4%(213,721)$  ‐2.0% 2019 vs. 2018 2019 vs. Budget     Gambling Tax  Gambling Tax revenue is 1.5% above 2018 and is 47.6% above budget.  The City is projecting Gambling Tax revenues to be  about $2.9M at the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 210,929$         156,146$              83,278$            (127,651)$       ‐60.5% (72,869)$          ‐46.7% Feb 255,285            164,992                 244,652            (10,633)             ‐4.2%79,660              48.3% Mar 245,283            154,213                 283,007            37,724              15.4% 128,795           83.5% Apr 275,795            179,219                 259,539            (16,256)             ‐5.9%80,321              44.8% May 222,540            170,531                 267,414            44,874              20.2% 96,883              56.8% Jun 252,663            175,721                 282,406            29,743              11.8% 106,686           60.7% Jul 255,351            175,771                 261,167            5,816                 2.3% 85,395              48.6% Aug 226,388            160,458                 291,657            65,269              28.8% 131,199           81.8% Sep 75,748               101,653                  ‐                               Oct 222,034            158,206                  ‐                               Nov 228,862            176,826                  ‐                               Dec 360,166            226,264                  ‐                               YTD Total 1,944,235$     1,337,051$         1,973,120$     28,884$           1.5% 636,069$        47.6% Annual Total 2,831,045$     2,000,000$          Gambling Excise Tax Year to Date through August Month 2019 vs. 2018 2019 vs. Budget   Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 5 of 18   Real Estate Excise Tax  REET collections through August are behind 2018 figures by 16.2%, but are 47.2% higher than anticipated. The City is  projecting REET to be about $5.8M at the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 840,316$         497,448$              748,462$         (91,854)$          ‐10.9%251,014$        50.5% Feb 366,011            187,141                 219,686            (146,325)          ‐40.0%32,545              17.4% Mar 291,045            266,167                 272,006            (19,039)             ‐6.5%5,839                 2.2% Apr 405,746            210,626                 430,070            24,324              6.0% 219,444           104.2% May 607,431            264,465                 456,154            (151,277)          ‐24.9%191,689           72.5% Jun 496,917            331,264                 444,031            (52,886)             ‐10.6%112,767           34.0% Jul 846,631            382,720                 529,539            (317,092)          ‐37.5%146,819           38.4% Aug 406,944            287,310                 472,051            65,107              16.0% 184,742           64.3% Sep 451,349            288,857                  ‐                               Oct 1,716,905        552,822                  ‐                               Nov 976,580            466,319                  ‐                               Dec 409,249            264,861                  ‐                               YTD Total 4,261,041$     2,427,141$         3,571,999$     (689,042)$       ‐16.2%1,144,858$   47.2% Annual Total 7,815,124$     4,000,000$          *Total REET (GF, DS, & CIP) Real Estate Excise Tax (REET)* Year to Date through August Month 2019 vs. 2018 2019 vs. Budget   Business & Occupation Tax  B&O Taxes are $129K less than 2018, but are $2.3M more than budget. The City is projecting B&O Taxes to be around $10.5M  by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,301,574$     974,121$              919,391$         (382,183)$       ‐29.4% (54,730)$          ‐5.6% Feb 1,013,630        758,618                 1,317,771        304,141           30.0% 559,153           73.7% Mar 48,278               36,136                    105,983            57,705              119.5% 69,847              193.3% Apr 5,430,049        4,063,945            583,109            (4,846,940)      ‐89.3% (3,480,836)      ‐85.7% May 212,741            159,219                 4,272,007        4,059,266      1908.1% 4,112,788      2583.1% Jun 172,687            129,242                 11,365               (161,322)          ‐93.4% (117,877)          ‐91.2% Jul 840,839            629,299                 478,148            (362,691)          ‐43.1% (151,151)          ‐24.0% Aug 451,217            337,699                 1,654,529        1,203,312      266.7% 1,316,830      389.9% Sep 12,193               9,125                        ‐                               Oct 572,637            428,572                  ‐                               Nov 632,346            473,259                  ‐                               Dec 1,026                  768                            ‐                               YTD Total 9,471,015$     7,088,279$         9,342,303$     (128,712)$       ‐1.4%2,254,024$   31.8% Annual Total 10,689,217$  8,000,000$          *Total B&O (GF & CIP) Year to Date through August Month 2019 vs. 2018 2019 vs. Budget Business & Occupation Tax (B&O)*         Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 6 of 18   Licenses and Permits    Licenses and Permits comprise 5% of all resources supporting general governmental activities. Licenses and Permits are  broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Amusement Licenses 4,470$                 11,897$                  ‐$                             (4,470)$            0.0%(11,897)$         0.0% Franchise Fees 1,142,521         1,224,329            1,118,982         (23,539)             ‐2.1% (105,347)          ‐8.6% Business Licenses 595,453              535,562                 898,464              303,012           50.9% 362,902           67.8% Animal Licenses 60,940                 65,761                    57,840                 (3,100)                ‐5.1% (7,921)                ‐12.0% Building Permits 2,330,200         2,483,856            1,997,376         (332,824)          ‐14.3% (486,480)          ‐19.6% ROW/Street Excavation Permits 23,778                 41,870                    28,745                 4,968                 20.9%(13,125)             ‐31.3% Special Event Permits 1,200                    881                           50                           (1,150)                ‐95.8% (831)                     ‐94.3% YTD Total 4,158,561$      4,364,155$         4,101,457$      (57,103)$          ‐1.4% (262,698)$       ‐6.0% Annual Total 5,499,201$      6,004,552$          Year to Date through August Revenue 2019 vs. 2018 2019 vs. Budget Licenses & Permits by Type     Franchise Fees  Franchise fees are underperforming in comparison to both 2018 and budget. The City is projecting Franchise Fees to be  around $1.5M by the end of the year.   2018 2019 2019 ActualBudgetActual$%$% Jan 371,458$      402,667$      36,388$         (335,070)$    ‐90.2% (366,278)$    ‐91.0% Feb 16,600            12,257            342,814         326,214        1965.1% 330,557        2696.9% Mar 15,792            13,323            26,075            10,283           65.1% 12,752           95.7% Apr 37,420            217,862         321,069         283,649        758.0% 103,206        47.4% May 340,622         186,425         20,400            (320,222)       ‐94.0% (166,025)       ‐89.1% Jun 1,050               11,976            14,400            13,350           1271.4% 2,424              20.2% Jul 344,386         367,567         337,436         (6,950)             ‐2.0% (30,131)          ‐8.2% Aug 15,193            12,253            20,400            5,207              34.3% 8,147              66.5% Sep ‐                           4,683                ‐                            Oct 346,194         386,072          ‐                            Nov 11,200            11,614             ‐                            Dec 9,000               16,993             ‐                            YTD Total 1,142,521$  1,224,329$  1,118,982$  (23,539)$       ‐2.1% (105,347)$    ‐8.6% Annual Total 1,508,915$  1,643,692$   Franchise Fees Year to Date through August Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 7 of 18   Business Licenses  Business license collections are 50.9% above 2018 and are 67.8% above budget. The City is projecting Business License  collections to be just over $1.1M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 327,143$      185,937$      281,106$      (46,037)$       ‐14.1%95,169$        51.2% Feb 130,035         90,383            348,391         218,356        167.9% 258,008        285.5% Mar 33,578            27,078            115,148         81,571           242.9% 88,070           325.2% Apr 27,803            61,252            60,577            32,774           117.9%(675)                  ‐1.1% May 29,033            50,703            34,260            5,227              18.0%(16,443)          ‐32.4% Jun 19,583            19,969            21,894            2,311              11.8% 1,925              9.6% Jul 13,430            62,681            15,985            2,555              19.0%(46,696)          ‐74.5% Aug 14,850            37,559            21,104            6,254              42.1%(16,456)          ‐43.8% Sep 8,889               20,531             ‐                            Oct 9,750               56,013             ‐                            Nov 7,950               29,021             ‐                            Dec 54,000            40,328             ‐                            YTD Total 595,453$      535,562$      898,464$      303,012$     50.9% 362,902$     67.8% Annual Total 676,041$      681,455$       Business Licenses Year to Date through August Month 2019 vs. 2018 2019 vs. Budget    Building Permits   Building permits are collected upon permit issuance. Building permits are underperforming compared to 2018 and budget.  The City is projecting Building Permits to be around $2.8M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 188,207$      213,794$      203,502$      15,295$        8.1%(10,292)$       ‐4.8% Feb 184,749         191,533         240,102         55,353           30.0% 48,569           25.4% Mar 476,543         458,747         240,197         (236,346)       ‐49.6% (218,550)       ‐47.6% Apr 281,916         244,832         204,404         (77,512)          ‐27.5% (40,428)          ‐16.5% May 289,639         373,325         229,378         (60,261)          ‐20.8% (143,946)       ‐38.6% Jun 226,866         353,366         320,264         93,398           41.2%(33,102)          ‐9.4% Jul 370,717         292,072         277,680         (93,037)          ‐25.1% (14,391)          ‐4.9% Aug 311,562         356,187         281,848         (29,714)          ‐9.5% (74,339)          ‐20.9% Sep 241,667         313,485          ‐                            Oct 248,276         239,888          ‐                            Nov 178,199         266,691          ‐                            Dec 198,984         220,811          ‐                            YTD Total 2,330,200$  2,483,856$  1,997,376$  (332,824)$    ‐14.3% (486,480)$    ‐19.6% Annual Total 3,197,325$  3,524,731$   Building Permits Year to Date through August Month 2019 vs. 2018 2019 vs. Budget            Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 8 of 18   Intergovernmental    Intergovernmental revenues comprise 4% of all resources supporting general governmental activities. Intergovernmental  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % State Shared Revenue 2,281,914$      2,076,342$         2,695,901$      413,988$        18.1% 619,559$        29.8% Federal Grants 106,473              199,279                 85,118                 (21,355)             ‐20.1% (114,161)          ‐57.3% State Grants 22,679                 24,827                    55,833                 33,154              146.2% 31,006              124.9% Local Grants 71,060                 202,080                 195,566              124,506           175.2%(6,514)                ‐3.2% YTD Total 2,482,125$      2,502,528$         3,032,418$      550,293$        22.2% 529,890$        21.2% Annual Total 4,162,854$      4,744,483$          Intergovernmental by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through August     State Shared Revenues  State shared revenues comprise 89% of total Intergovernmental revenues. They are over performing in comparison to both  2018 and budget. The City is projecting State Shared Revenues to be around $4.3M by the end of the year.   2018 2019 2019 ActualBudgetActual$%$% Jan 338,755$      330,916$      351,525$      12,771$        3.8% 20,610$        6.2% Feb 124,977         117,622         109,742         (15,235)          ‐12.2% (7,880)             ‐6.7% Mar 342,251         337,540         404,722         62,471           18.3% 67,182           19.9% Apr 348,999         340,307         371,513         22,514           6.5% 31,206           9.2% May 124,231         123,536         106,454         (17,777)          ‐14.3% (17,082)          ‐13.8% Jun 516,595         347,612         402,102         (114,494)       ‐22.2%54,490           15.7% Jul 343,127         342,604         765,393         422,266        123.1% 422,789        123.4% Aug 142,980         136,206         184,451         41,472           29.0% 48,245           35.4% Sep 416,763         362,542          ‐                            Oct 330,423         348,892          ‐                            Nov 178,271         148,169          ‐                            Dec 412,208         359,790          ‐                            YTD Total 2,281,914$  2,076,342$  2,695,901$  413,988$     18.1% 619,559$     29.8% Annual Total 3,619,579$  3,295,735$   State Shared Revenue Year to Date through August Month 2019 vs. 2018 2019 vs. Budget     State shared revenues are broken down as follows:         2018 2019 2019 Tax by Type YTD Actual YTD Budget YTD Actual$%$% Judicial Contribution 11,025$         8,466$            16,248$         5,223$           47.4% 7,782$           91.9% Crim Just ‐ High Crime 210,584         205,380         218,646         8,063              3.8% 13,267           6.5% Crim Just ‐ Pop 22,168            18,409            23,191            1,023              4.6% 4,782              26.0% Crim Just ‐ Spec Prog 80,183            82,117            83,510            3,327              4.2% 1,393              1.7% State DUI 11,387            13,349            11,038            (349)                  ‐3.1% (2,310)             ‐17.3% Marijuana Distribution 161,067          ‐                           105,527         (55,540)          ‐34.5%105,527        100.0% Liquor Profits 425,526         425,085         424,360         (1,166)             ‐0.3% (725)                  ‐0.2% Liquor Excise Tax 378,373         357,272         416,253         37,880           10.0% 58,981           16.5% Fuel Tax 981,602         966,265         1,397,128     415,526        42.3% 430,863        44.6% YTD Total 2,281,914$  2,076,342$  2,695,901$  413,988$     18.1%619,559$     29.8% 2019 vs. 2018 2019 vs. Budget Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 9 of 18   Charges for Services     Charges for Services revenues comprise 7% of all resources supporting general governmental activities. Charges for Services  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Passport Fees 38,975                 44,812                    23,385                 (15,590)             ‐40.0% (21,427)             ‐47.8% Court Services 29,697                 8,649                       30,312                 616                     2.1% 21,663              250.5% General Government Services 1,042                    392                           1,680                    638                     61.2% 1,288                 328.1% Public Safety Services 742,971              534,552                 693,359              (49,612)             ‐6.7%158,807           29.7% Development Services 1,148,891         1,265,670            1,510,940         362,049           31.5% 245,270           19.4% Transportation Services 16,952                  ‐                                   17,144                 192                     1.1% 17,144              100.0% Recreation/Farmer's Market/Events 1,323,042         1,564,918            1,162,956         (160,086)          ‐12.1% (401,962)          ‐25.7% Interfund Services 2,597,384         3,203,757            2,739,761         142,377           5.5%(463,996)          ‐14.5% YTD Total 5,898,953$      6,622,751$         6,179,538$      280,585$        4.8%(443,213)$       ‐6.7% Annual Total 8,531,218$      9,491,414$          Year to Date through August Charges for Services by Type Revenue 2019 vs. 2018 2019 vs. Budget   Public Safety Services  Public Safety Services are comprised mostly of fees related to probation and sentence monitoring, record checks, animal  control, school resource officers, private security, and electronic home detention. These fees are 6.7% below 2018, but 29.7%  over budget. The City is projecting Public Safety Services to be around $1.1M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 226,185$      118,233$      70,666$         (155,519)$      ‐68.8% (47,567)$         ‐40.2% Feb 62,373            53,305            136,847         74,474            119.4% 83,543            156.7% Mar 83,547            94,518            85,070            1,523               1.8%(9,448)               ‐10.0% Apr 60,316            49,607            107,281         46,965            77.9% 57,674            116.3% May 78,265            58,160            65,972            (12,294)            ‐15.7%7,812               13.4% Jun 86,973            53,192            87,719            746                    0.9% 34,527            64.9% Jul 94,582            63,138            64,912            (29,670)            ‐31.4%1,774               2.8% Aug 50,729            44,399            74,892            24,163            47.6% 30,493            68.7% Sep 80,103            54,633             ‐                            Oct 188,188         97,909             ‐                            Nov 69,023            60,122             ‐                            Dec 143,016         93,619             ‐                            YTD Total 742,971$      534,552$      693,359$      (49,612)$         ‐6.7%158,807$      29.7% Annual Total 1,223,301$  840,835$       Public Safety Services Year to Date through August Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 10 of 18   Development Services  Development Services revenues are comprised of CED administrative, planning, and inspection fees. They are over performing  both 2018 and budget. The City is projecting Development Services revenues to be around $2.3M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 146,322$      180,713$      420,597$      274,275$      187.4% 239,885$      132.7% Feb 128,559         118,057         173,054         44,495            34.6% 54,997            46.6% Mar 155,996         151,183         92,524            (63,472)            ‐40.7% (58,659)            ‐38.8% Apr 150,656         129,799         160,164         9,508               6.3% 30,365            23.4% May 166,578         212,795         187,376         20,798            12.5%(25,419)            ‐11.9% Jun 151,555         183,838         172,337         20,782            13.7%(11,501)            ‐6.3% Jul 123,390         121,517         194,832         71,442            57.9% 73,315            60.3% Aug 125,834         167,768         110,056         (15,778)            ‐12.5% (57,712)            ‐34.4% Sep 78,072            104,875          ‐                            Oct 208,903         181,167          ‐                            Nov 234,811         231,382          ‐                            Dec 123,834         166,678          ‐                            YTD Total 1,148,891$  1,265,670$  1,510,940$  362,049$      31.5% 245,270$      19.4% Annual Total 1,794,511$  1,949,771$   Development Services Year to Date through August Month 2019 vs. 2018 2019 vs. Budget     Recreation/Farmer’s Market/Events  The new recreation software, PerfectMind, follows GAAP revenue recognition principles where revenue is not recognized  until the service is performed, whereas the previous software recognized all revenue on the first day of the program. As a  result, actual revenue for 2019 will likely lag behind 2018 amounts as revenue for course programming will not fully be  recognized until each session of the program occurs.  Deferred revenue at the end of August 2018, under the old revenue  recognition principles, was $131K; deferred revenue at the end of August 2019, under the new revenue recognition principles,  is $211K. The City is projecting Recreation revenues to be around $1.4M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 138,388$      165,057$      63,819$         (74,569)$         ‐53.9% (101,238)$      ‐61.3% Feb 51,694            51,177            81,045            29,351            56.8% 29,868            58.4% Mar 55,300            68,535            97,206            41,907            75.8% 28,672            41.8% Apr 70,321            82,391            75,539            5,219               7.4%(6,852)               ‐8.3% May 82,814            94,920            97,107            14,293            17.3% 2,187               2.3% Jun 191,108         195,529         84,351            (106,757)         ‐55.9% (111,177)         ‐56.9% Jul 419,790         512,222         290,648         (129,141)         ‐30.8% (221,574)         ‐43.3% Aug 313,627         395,088         373,240         59,613            19.0%(21,848)            ‐5.5% Sep 76,421            120,298          ‐                            Oct 72,092            68,810             ‐                            Nov 37,924            54,639             ‐                            Dec (104)                  26,025             ‐                            YTD Total 1,323,042$  1,564,918$  1,162,956$  (160,086)$      ‐12.1% (401,962)$      ‐25.7% Annual Total 1,509,375$  1,834,691$   Recreation/Farmer's Market/Events Year to Date through August Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 11 of 18   Interfund Services  2019’s monthly budgets are based on 1/12th of the annual budget.  The majority of these revenues are related to indirect cost  allocations, which are internal administrative costs.  The remaining costs consist of Development Services division’s inspection  fees, Parks Planning and Natural Resources division’s capital investment program reimbursements, Transportation division’s  capital investment program reimbursements, and Maintenance division’s street maintenance reimbursements. The majority  of the variance is due to Parks Planning and Natural Resource division not receiving budgeted reimbursement for salaries and  benefits of vacant capital project coordinator positions. The City is projecting Interfund Services revenues to be $4.1M at  year‐end.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 341,804$      412,545$      355,266$      13,461$         3.9%(57,279)$         ‐13.9% Feb 344,339         407,400         340,799         (3,540)               ‐1.0% (66,601)            ‐16.3% Mar 378,470         463,506         341,533         (36,937)            ‐9.8% (121,973)         ‐26.3% Apr 332,894         407,942         365,875         32,981            9.9%(42,067)            ‐10.3% May 328,765         405,632         342,950         14,185            4.3%(62,682)            ‐15.5% Jun 320,735         394,506         334,732         13,996            4.4%(59,775)            ‐15.2% Jul 236,427         338,145         302,849         66,422            28.1%(35,296)            ‐10.4% Aug 313,949         374,081         355,757         41,808            13.3%(18,324)            ‐4.9% Sep 314,193         407,958          ‐                            Oct 330,901         399,885          ‐                            Nov 332,981         398,370          ‐                            Dec 324,948         384,647          ‐                            YTD Total 2,597,384$  3,203,757$  2,739,761$  142,377$      5.5%(463,996)$      ‐14.5% Annual Total 3,900,407$  4,794,617$   Month 2019 vs. 2018 2019 vs. Budget Interfund Services Year to Date through August     Fines and Penalties    Fines and Penalties revenues comprise 4% of all resources supporting general governmental activities. Fines and Penalties  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 360,959$           403,078$              278,546$           (82,413)$          ‐22.8% (124,531)$       ‐30.9% Photo Enforcement Program 1,800,732         1,961,487            2,602,429         801,697           44.5% 640,943           32.7% Criminal Traffic Misdemeanor Fines 50,283                 54,472                    38,279                 (12,005)             ‐23.9% (16,193)             ‐29.7% Criminal Non‐Traffic Fines 56,350                 22,542                    54,881                 (1,469)                ‐2.6%32,339              143.5% Criminal Costs 65,940                 16,307                    51,042                 (14,899)             ‐22.6%34,735              213.0% Non‐Court Fines, Forfeitures and Penalties 23,936                 108,785                 30,341                 6,405                 26.8%(78,444)             ‐72.1% YTD Total 2,358,201$      2,566,670$         3,055,518$      697,317$        29.6% 488,848$        19.0% Annual Total 4,273,192$      4,407,750$          Year to Date through August Revenue 2019 vs. 2018 2019 vs. Budget Fines and Penalties by Type        Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 12 of 18   Civil Penalties  Civil Penalties revenues are underperforming both 2018 and budget. The City is projecting Civil Penalties revenue to be  around $446K by the end of the year.  2018 2019 2019 ActualBudgetActual$%$% Jan ‐$                         ‐$                   ‐$                         ‐$                       N/A ‐$                       N/A Feb 48,523            54,118            38,594            (9,929)             ‐20.5% (15,524)          ‐28.7% Mar 91,564            80,593            85,052            (6,512)             ‐7.1%4,459              5.5% Apr ‐                           34,150            35,592            35,592           100.0% 1,441              4.2% May 40,831            49,265             ‐                           (40,831)         0.0%(49,265)         0.0% Jun 47,633            55,853            41,547            (6,086)             ‐12.8% (14,306)          ‐25.6% Jul 42,842            50,292            38,162            (4,679)             ‐10.9% (12,130)          ‐24.1% Aug 89,566            78,806            39,599            (49,967)          ‐55.8% (39,207)          ‐49.8% Sep 39,953            55,631             ‐                            Oct 53,371            58,618             ‐                            Nov 41,021            50,521             ‐                            Dec 37,736            77,353             ‐                            YTD Total 360,959$      403,078$      278,546$      (82,413)$       ‐22.8% (124,531)$    ‐30.9% Annual Total 533,040$      645,200$       Civil Penalties Year to Date through August Month 2019 vs. 2018 2019 vs. Budget     Photo Enforcement Program  Included in the Fines and Penalties annual revenue budget is $3.4M from the Photo Enforcement program. The program is  over performing both 2018 and budget. The City is projecting Photo Enforcement Program revenues to be around $4.5M by  the end of the year.   The associated costs include the equipment provided by American Traffic Solutions, Inc. (ATS), dedicated 2 FTE in the Court  Services Department to process the increased caseload.   18 Actual 19 Budget 19 Actual 2019 vs. 2018 18 Actual 19 Budget 19 Actual 19 Net Jan 136,853$         162,639$         214,193$              77,340$            25,705$           35,413$         27,802$           186,391$         Feb 154,588            187,840            285,643                 131,055            93,460              121,321         127,071           158,572            Mar 179,033            199,988            399,499                 220,466            93,469              121,318         127,058           272,441            Apr 122,862            174,391            387,303                 264,441            93,469              121,322         127,068           260,235            May 171,477            212,936            280,350                 108,873            93,463              121,316         127,067           153,283            Jun 155,145            231,485            344,616                 189,471            93,460              121,310         27,802              316,814            Jul 385,533            349,711            387,738                 2,205                  25,705              78,365            27,802              359,936            Aug 495,241            442,497            303,087                 (192,154)           115,458           135,269         325,588           (22,500)              Sep 408,660            341,229             ‐                                    ‐115,466           135,268          ‐                              ‐                        Oct 505,220            439,665             ‐                                    ‐115,469           135,268          ‐                              ‐                        Nov 404,192            354,895             ‐                                    ‐124,973           141,293          ‐                              ‐                        Dec 344,236            334,129             ‐                                    ‐224,231           247,161          ‐                              ‐                        YTD Total 1,800,732$     1,961,487$     2,602,429$         801,697$         634,187$        855,634$      917,258$        1,685,171$     Annual Total 3,463,040$     3,431,405$     1,214,324$   1,514,623$   Month Revenues Photo Enforcement Program Year to Date through August Expenses          Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 13 of 18   Miscellaneous    Miscellaneous revenues comprise 3% of all resources supporting general governmental activities. Miscellaneous revenues  are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Interest and Other Investment Earnings 703,133$           458,265$              875,748$           172,615$        24.5% 417,483$        91.1% Rents, Leases, and Concessions 1,260,975         1,023,388            1,202,392         (58,584)             ‐4.6%179,004           17.5% Contributions/Donations from Private Source 148,340              102,254                 168,775              20,435              13.8% 66,521              65.1% Seizure Funds ‐ Federal/State/Local 245,888               ‐                                   71,467                 (174,421)          ‐70.9%71,467              100.0% Other 174,899              184,129                 206,984              32,086              18.3% 22,855              12.4% YTD Total 2,533,235$      1,768,036$         2,525,366$      (7,869)$             ‐0.3%757,330$        42.8% Annual Total 3,667,475$      2,665,145$          Year to Date through August Revenue 2019 vs. 2018 2019 vs. Budget Miscellaneous by Type     Interest and Other Investment Earnings  Interest and Other Investment Earnings revenue is over performing both 2018 and budget. The City is projecting Interest and  Other Investment Earnings revenue to be around $1.6M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 74,999$          48,801$          100,598$       25,599$        34.1% 51,797$          106.1% Feb 79,753             52,327             101,195          21,442           26.9% 48,868             93.4% Mar 88,282             56,401             118,607          30,325           34.4% 62,206             110.3% Apr 78,693             54,518             116,741          38,048           48.4% 62,223             114.1% May 92,472             59,602             106,701          14,229           15.4% 47,100             79.0% Jun 95,060             61,555             111,735          16,676           17.5% 50,181             81.5% Jul 95,410             61,720             112,442          17,032           17.9% 50,722             82.2% Aug 98,465             63,341             107,728          9,263              9.4% 44,387             70.1% Sep 90,201             60,063              ‐                             Oct 95,798             62,087              ‐                             Nov 98,832             63,461              ‐                             Dec 155,514          186,124           ‐                             YTD Total 703,133$       458,265$       875,748$       172,615$     24.5% 417,483$       91.1% Annual Total 1,143,478$  830,000$        Interest and Other Investment Earnings Year to Date through August Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 14 of 18   Rents, Leases, and Concessions  Rents, Leases, and Concessions revenue are under performing compared to 2018, but are over budget by 17.5%. The City is  projecting Rents, Leases, and Concessions revenue to be around $1.7M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 253,449$       207,331$       246,439$       (7,010)$           ‐2.8%39,108$          18.9% Feb 114,533          85,712             108,447          (6,086)              ‐5.3%22,735             26.5% Mar 126,253          102,476          113,106          (13,146)           ‐10.4%10,630             10.4% Apr 141,273          112,270          142,622          1,348              1.0% 30,352             27.0% May 101,465          95,256             119,918          18,454           18.2% 24,662             25.9% Jun 147,526          123,097          148,956          1,430              1.0% 25,859             21.0% Jul 229,026          165,385          162,221          (66,805)           ‐29.2% (3,164)               ‐1.9% Aug 147,450          131,861          160,683          13,232           9.0% 28,822             21.9% Sep 130,202          105,987           ‐                             Oct 127,684          110,757           ‐                             Nov 109,294          90,179              ‐                             Dec 92,869             92,742              ‐                             YTD Total 1,260,975$  1,023,388$  1,202,392$  (58,584)$        ‐4.6%179,004$       17.5% Annual Total 1,721,024$  1,423,053$   Rents, Leases, and Concessions Year to Date through August Month 2019 vs. 2018 2019 vs. Budget     EXPENSES    Overall, the City has expended 56.8% of its budgeted general governmental expenditures at the end of August.  This is $3.6M  or 4.6% below year‐to‐date budgeted expenditures.      The Recreation & Neighborhoods division is over the year‐to‐date budget by $37K or .9%. There is not a specifically  identifiable reason for the overage; it is a combination of small things. We will continue to monitor this in conjunction with  Recreation management. Recreation program activity slows in the fall and winter months, which allows for conservative  spending where needed to manage the budget. The City is not projecting Recreation & Neighborhoods to be over budget at  the end of the year.    The Museum is over the year‐to‐date budget by $3K or 1.6%. This is due to the increased use/cost of part‐time staff. Use of  part‐time staff is variable depending on staffing needs and is easily managed. The City is not projecting the Museum to be  over budget at the end of the year.    Public Works Admin is over the year‐to‐date budget by $1K or .4%. This is due to meals and incidentals expenditures related  to department meetings that are over budget. We will continue to monitor this, but the City is not projecting Public Works  Admin to be over budget at the end of the year.                    Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 15 of 18   ENTERPRISE FUNDS  The table below gives an analysis of all City Enterprise funds.  Displayed are the year‐to‐date revenues and expenditures for  each enterprise.  Included in each funds are the capital revenues and expenditures.  Airport Golf Course Solid Waste  Utility Water Utility Wastewater  Utility Surface Water  Utility Metro REVENUES: Licenses and permits ‐$                    ‐$                    ‐$                    ‐$                   80,929$          35,650$           ‐$                    Grants / intergovernmental 214,009           ‐                     167,153           ‐                      ‐                     725,872           ‐                      Charges  for services 195,593          1,483,569       12,536,644     11,554,222     7,253,555       7,917,896       11,537,233      Interdepartmental services ‐                      ‐                      ‐                      ‐                      ‐                      ‐                      ‐                      Fines and penalties 617                  ‐                      ‐                      ‐                     546                  ‐                      ‐                      Rents, leases, and misc fees 1,872,917       333,900           ‐                     117,718           ‐                      ‐                      ‐                      Interest and other misc 52,202            5,835              22,791            733,071          575,212          517,109          56,051             TOTAL REVENUES 2,335,338       1,823,304       12,726,588     12,405,011     7,910,242       9,196,527       11,593,284      EXPENSES: Utility billing ‐                      ‐                     28,361            105,452          84,433            126,316           ‐                      Utility systems ‐                      ‐                     13,249,775     2,948,041       2,606,796       2,482,613        ‐                      Utility maintenance ‐                      ‐                     257,905          3,974,371       1,464,090       2,094,704       11,261,319      Transportation 1,419,072        ‐                      ‐                      ‐                      ‐                      ‐                      ‐                      Golf ‐                     1,603,116        ‐                      ‐                      ‐                      ‐                      ‐                      TOTAL EXPENSES 1,419,072       1,603,116       13,536,041     7,027,864       4,155,319       4,703,633       11,261,319      AMOUNT AVAILABLE FOR DEBT  SERVICE 916,266          220,188          (809,453)        5,377,147       3,754,923       4,492,894       331,965           DEBT SERVICE: Principal ‐                      ‐                      ‐                     345,818           ‐                      ‐                      ‐                      Interest ‐                      ‐                      ‐                     111,973          47,859            402,751           ‐                      TOTAL DEBT SERVICE ‐                      ‐                      ‐                     457,791          47,859            402,751           ‐                      CAPITAL PROJECTS 104,487          14,140             ‐                     2,685,939       2,260,011       1,912,010        ‐                      TRANSFERS IN/(OUT)‐                      ‐                      ‐                      ‐                     27,588            5,994               ‐                      CHANGE IN FUND BALANCE 811,779          206,048          (809,453)        2,233,417       1,474,641       2,184,127       331,965           BEGINNING FUND BALANCE, Jan 1 4,985,377       110,812          2,276,333       38,002,973     18,879,201     16,356,030     5,512,418        ENDING FUND BALANCE, Aug 31 5,797,156$     316,860$        1,466,880$     40,236,390$   20,353,842$   18,540,157$   5,844,383$            Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 16 of 18   INTERNAL SERVICE FUNDS  The table below gives an analysis of all City Internal Service Funds.  Displayed are the year‐to‐date revenues and expenditures  for each internal service.  Included in each fund are the capital revenues and expenditures.   Equipment  Rental Information  Technology Facilities Communications Insurance Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                 219,926$      ‐$                  ‐$                          ‐$                   ‐$                  ‐$                   Grants / intergovernmental ‐                    ‐                    ‐                    ‐                            ‐                     ‐                   35,898           Charges for services: Equipment rental m&o 1,617,308    3,310,273     ‐                    ‐                            ‐                     ‐                    ‐                     Telecommunications ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Print and mail ‐                    ‐                    ‐                   297,936                ‐                     ‐                    ‐                     Communications ‐                   14,714          ‐                   438,592                ‐                     ‐                    ‐                     Facilities ‐                    ‐                   2,867,760     ‐                            ‐                     ‐                    ‐                     Data cards and cell  phones ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     IT service contracts ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Geographical information systems ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Interest and other misc 58,643         36,132         11,581         6,272                   170,512        41,249         132,114         Internal service fund misc: Vehicle / equipment capital recovery 1,791,052     ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Insurance premiums ‐                    ‐                    ‐                    ‐                           1,125,773      ‐                    ‐                     Worker's comp/unemployment ‐                    ‐                    ‐                    ‐                           985,240         ‐                    ‐                     Benefit premiums ‐                    ‐                    ‐                    ‐                            ‐                    6,761,571    1,749,788      Other misc 4,466           690              98,835         425                       ‐                    680,429        ‐                     Interfund Loan ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Capital  contributions ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Disposal of capital assets 57,551          ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Insurance recoveries ‐                    ‐                    ‐                    ‐                           125,927         ‐                    ‐                     TOTAL REVENUES 3,529,020    3,581,735    2,978,176    743,225               2,407,452     7,483,249    1,917,800      EXPENSES: Communications ‐                    ‐                    ‐                   374,262                ‐                     ‐                    ‐                     Equipment rental 1,903,703     ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Facilities ‐                    ‐                   3,291,627     ‐                            ‐                     ‐                    ‐                     Healthcare ‐                    ‐                    ‐                    ‐                            ‐                    6,628,848     ‐                     Information technology ‐                   3,392,518     ‐                    ‐                            ‐                     ‐                    ‐                     Print and mail ‐                    ‐                    ‐                   297,056                ‐                     ‐                    ‐                     Retiree healthcare ‐                    ‐                    ‐                    ‐                            ‐                     ‐                   587,735         Risk management:‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Risk management ‐                    ‐                    ‐                    ‐                           1,209,219      ‐                    ‐                     Unemployment ‐                    ‐                    ‐                    ‐                           40,342           ‐                    ‐                     Worker's compensation ‐                    ‐                    ‐                    ‐                           517,714         ‐                    ‐                     TOTAL EXPENSES 1,903,703    3,392,518    3,291,627    671,318               1,767,275     6,628,848    587,735         AMOUNT AVAILABLE FOR CAPITAL 1,625,317    189,217       (313,451)      71,907                 640,177        854,401       1,330,065      DEBT SERVICE: Principal ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     Interest and other debt service costs ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     TOTAL DEBT SERVICE ‐                    ‐                    ‐                    ‐                            ‐                     ‐                    ‐                     CAPITAL PROJECTS 1,852,888    152,761       10,901          ‐                            ‐                     ‐                    ‐                     TRANSFERS IN ‐                   44,399         12,389          ‐                            ‐                     ‐                    ‐                     TRANSFERS (OUT)‐                    ‐                   (5,220)           ‐                            ‐                     ‐                    ‐                     CHANGE IN FUND BALANCE (227,571)      80,855         (317,183)      71,907                 640,177        854,401       1,330,065      BEGINNING FUND BALANCE, Jan 1 6,493,018    3,934,408    1,376,859    685,593               18,522,154   4,259,511    13,876,628    ENDING FUND BALANCE, Aug 31 6,265,447$  4,015,263$  1,059,676$  757,500$             19,162,331$ 5,113,912$  15,206,693$    Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 17 of 18   FUND BALANCE  Page 18 shows the ending fund balance as of August 2019.  The City’s fund balance is a combination of current deficit/surplus  of funds which have accrued from unexpended operating budgets, unanticipated excess revenues, and from balances  accumulated from prior years.      The prior year’s balances (or beginning balance) include funds identified as being reserved for specific purposes or required  to meet the current year’s appropriations. These balances also provide financial stability to the City’s operation during  uncertain times and provide a layer of security to bondholders.      At the end of August, the City has $53.4M reported in the combined general governmental fund balance of the current year’s  operating budget, which is approximately 40.8% of budgeted operating expenditures.  This is an increase of $8.8M from the  year’s beginning balance.  August’s ending fund balance is over the anticipated General Governmental Fund Balance of $44M  by $9.4M or 21.5%.  Although the ending fund balance is above projections, it is consistent with the prior years’ trends and  consistent with the forecast (Long Range Plan) that was presented as part of the 2019/2020 Adopted Budget.    CONTACT INFORMATION  This report is prepared by the Finance Division of the Administrative Services Department.  For additional financial  information, please also review our website: http://www.rentonwa.gov/.  For any questions about the report, please feel  free to contact us at mbaker@rentonwa.gov or jhawn@rentonwa.gov.    Monthly Financial Report                                                               City of Renton, Washington August 2019  Page 18 of 18   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through August 31, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  08/31/19 Total Funds  Available Budgeted  Expenditure Expenditure  08/31/19 Ending Balance GENERAL FUND: 44,542,987          122,403,346        83,034,791          127,577,778        130,745,636        74,207,485          53,370,293           SPECIAL REVENUE FUNDS: 1,875,558            1,120,674            446,724               2,322,282            1,412,904            422,722               1,899,560             102 Arterial Street 163,671               700,000                ‐                           163,671               700,000               163,671                ‐                            110 Hotel Motel 722,387               225,000               333,448               1,055,835            406,547               172,155               883,680                125 Muni ci pal  Art 119,446               98,000                 833                      120,279               200,683               50,683                 69,596                  127 Cable Communication 529,159               97,674                 109,420               638,579               105,674               36,213                 602,366                135 Springbrook Wetlands  Bank 340,895                ‐                           3,023                   343,918                ‐                            ‐                           343,918                DEBT SERVICE FUND: 2,307,173            7,805,569            4,220,154            6,527,327            7,914,936            1,213,266            5,314,060             CAPITAL PROJECT FUNDS (CIP): 39,310,931          66,827,984          29,123,910          68,434,841          87,183,116          11,488,427          56,946,414           303 Community Services Mitigation 2,578,256            86,500                 306,304               2,884,560            1,629,000             ‐                           2,884,560             305 Transportation Mitigation 3,332,524            1,020,000            1,278,679            4,611,203            2,700,000             ‐                           4,611,203             316 Muni ci pal  Facilities CIP 20,675,238          23,354,715          15,539,390          36,214,628          41,657,287          8,033,260            28,181,368           317 Transportation CIP 5,492,313            37,291,769          11,893,909          17,386,222          41,036,073          3,155,416            14,230,806           326 Housing Opportunity 2,582,203             ‐                           24,267                 2,606,470            47,400                 40,488                 2,565,982             336 New Library Development 456,591                ‐                           3,098                   459,689                ‐                            ‐                           459,689                346 New Family First Center Dvlpmnt 4,193,806            5,075,000            78,263                 4,272,069            113,356               259,263               4,012,806             ENTERPRISE FUNDS: 86,123,144          93,153,914          58,073,029          144,196,173        146,588,143        51,640,505          92,555,668           4X2 Airport Operating & CIP 4,985,377            3,298,685            2,335,338            7,320,715            7,907,470            1,523,559            5,797,156             403 Solid Waste Utility 2,276,333            19,512,021          12,726,588          15,002,921          19,400,701          13,536,041          1,466,880             4X4 Golf Operating & CIP 110,812               2,445,053            1,871,304            1,982,116            2,346,727            1,665,256            316,860                4X5 Water Operating & CIP 38,002,973          18,841,192          12,405,011          50,407,984          48,759,844          10,171,594          40,236,390           4X6 Waste Water Operating & CIP 18,879,201          11,582,615          7,938,599            26,817,800          24,716,488          6,463,958            20,353,842           416 King County Metro 5,512,418            16,922,613          11,593,284          17,105,702          16,922,613          11,261,319          5,844,383             4X7 Surface Water Operating & CIP 16,356,030          20,551,735          9,202,905            25,558,935          26,534,300          7,018,778            18,540,157           INTERNAL SERVICE FUNDS: 49,148,171          35,770,284          22,697,445          71,845,616          40,045,617          20,264,794          51,580,822           501 Equipment Repair/Replacement 6,493,018            7,695,395            3,529,020            10,022,038          9,030,476            3,756,591            6,265,447             502 Insurance 18,522,154          3,343,143            2,407,452            20,929,606          4,214,868            1,767,275            19,162,331           503 Information Services 3,934,408            6,054,593            3,626,134            7,560,542            7,558,374            3,545,279            4,015,263             504 Facilities 1,376,859            5,302,302            2,990,565            4,367,424            5,507,965            3,307,748            1,059,676             505 Communications 685,593               1,105,816            743,225               1,428,818            1,100,667            671,318               757,500                512 Insurance, Healthcare 4,259,511            11,027,762          7,483,249            11,742,760          11,655,086          6,628,848            5,113,912             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            1,917,800            15,794,428          978,181               587,735               15,206,693           FIDUCIARY FUNDS: 7,146,983            468,000               210,640               7,357,623            210,475               129,770               7,227,853             304 Fire Mitigation 1,455,669            99,000                 141,890               1,597,559            128,576                ‐                           1,597,559             611 Firemen's Pension 7,146,983            468,000               210,640               7,357,623            210,475               129,770               7,227,853             TOTAL FUNDS 231,910,616     327,648,771     197,948,583     429,859,199     414,229,403     159,366,969     270,492,229