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HomeMy WebLinkAboutMONTH 2020 05Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through May 31, 2020.  A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s financial  management policies.     GENERAL FUND  The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund  is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation,  human services, municipal court, street maintenance and planning, economic development, and administrative functions.  The table below displays the year‐to‐date revenues and expenditures for the General Fund.    General REVENUES: Taxes 34,813,422$       Licenses and permits 2,519,535            Grants / intergovernmental 1,608,013            Charges for services 3,357,846            Fines and penalties 1,505,982            Contributions 855,532               Sale of general fixed assets 18,100                  Investment Earnings 485,758               TOTAL REVENUES 45,164,188          EXPENDITURES: Personnel 25,176,247          Supplies 541,191               Contracted Services 7,461,275            Capital Outlay 135,476               Internal Services 6,305,002            TOTAL EXPENDITURES 39,619,191          TRANSFERS IN 8,633,326            TRANSFERS OUT 9,334,561            NET TRANSFERS (701,235)              CHANGE IN FUND BALANCE 4,843,762            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, May 31 52,900,744$              Monthly Financial Report May 2020  Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 2 of 7   DEBT SERVICE FUND   Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to  the City’s general obligation bond issues. The table below displays the year‐to‐date revenues and expenditures for the City’s  debt service fund.    General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 222,092$               Investment Earnings 20,085                    TOTAL REVENUES 242,177                 EXPENDITURES: Principal 181,622                 Interest 99,849                    TOTAL EXPENDITURES 281,471                 NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (39,294)                  BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, May 31 3,960,163$                SPECIAL REVENUE FUNDS  Special revenue funds are used to account for revenues that are to be used for a specific purpose as required by law or  legislative action. The table below displays the year‐to‐date revenues and expenditures for the City’s special revenue funds.    Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 114,623$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              41,132                    ‐                               ‐                               ‐                               Investment Earnings 4,595                     541                        2,876                     1,610                     377                        71                            TOTAL REVENUES 119,218                541                        44,008                   1,610                     377                        71                            EXPENDITURES: Contracted Services 85,378                   14,450                   17,100                    ‐                               ‐                               ‐                               TOTAL EXPENDITURES 85,378                   14,740                   17,100                    ‐                               ‐                               ‐                               TRANSFERS IN ‐                              180,660                 ‐                               ‐                              671,102                126,011                 NET TRANSFERS ‐                              180,660                 ‐                               ‐                              671,102                126,011                 CHANGE IN FUND BALANCE 33,840                   166,461                26,908                   1,610                     671,479                126,082                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, May 31 977,729$              265,326$              630,668$              347,268$              671,479$              126,082$                      Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 3 of 7   CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The  table below displays the year‐to‐date revenues and expenditures for the City’s capital project funds.    CS Impact Mitigation Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Housing  Opportunity New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,077,894$       1,077,894$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          398,612            753,588             ‐                           ‐                           ‐                           Charges for services 312,495            680,161             ‐                           ‐                          139                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          8,063                  ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          160,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 9,804                 15,824               1,166                 1,166                 135,170            87,160               6,309                 252                    39,049                TOTAL REVENUES 322,299            695,985            1,079,060         1,079,060         693,921            1,098,811         6,309                 252                    39,049                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          274,541            43,155                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          89,999                ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          18,219               76,031                ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          2,367,794         1,325,650          ‐                           ‐                          223,009             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          2,660,554         1,534,835          ‐                           ‐                          223,009             TRANSFERS IN ‐                           ‐                          1,143,855         1,143,855          ‐                           ‐                           ‐                           ‐                           ‐                           TRANSFERS OUT ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          2,576,659          ‐                           ‐                           NET TRANSFERS ‐                           ‐                          1,143,855         1,143,855          ‐                           ‐                          (2,576,659)         ‐                           ‐                           CHANGE IN FUND BALANCE 322,299            695,985            2,222,915         2,222,915         (1,966,633)        (436,024)           (2,570,350)        252                    (183,960)            BEGINNING FUND BALANCE, Jan 1 1,886,999         2,942,344          ‐                           ‐                          26,395,567       18,947,853       2,570,350         16,408               8,551,401          ENDING FUND BALANCE, May 31 2,209,298$       3,638,329$       2,222,915$       2,222,915$       24,428,934$    18,511,829$     ‐$                        16,660$            8,367,441$          Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 4 of 7   ENTERPRISE FUNDS  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business  enterprises. The table below displays the year‐to‐date revenues and expenses of the City’s enterprise funds.    Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                      ‐$                      ‐$                      ‐$                       43,025$             ‐$                     30,725$             Grants / intergovernmental ‐                        89,664              ‐                         ‐                          ‐                          ‐                        642,014             Charges for services 32,928             10,393,661     519,000          6,076,033        4,472,573         7,012,710       4,974,572          Rents, leases, and misc fees 1,247,216        ‐                        77,729             73,143               ‐                          ‐                         ‐                          Interest and other misc 30,141             14,253             1,888               452,869            309,125            28,931             224,779             TOTAL REVENUES 1,310,285       10,497,578     598,617          6,602,045        4,824,723         7,041,641       5,872,090          EXPENSES: Personnel 408,449          249,653          545,409          1,814,378        962,489             ‐                        1,496,406          Supplies 9,813               3,252               140,214          281,582            20,317               ‐                        46,265               Contracted Services 148,887          8,314,653       66,056             1,171,530        793,143            5,655,068       649,326             Internal Services 137,895          211,736          146,914          933,802            660,705             ‐                        805,716             TOTAL OPERATING EXPENSES 705,044          8,779,294       898,593          4,201,292        2,436,654         5,655,068       2,997,713          AMOUNT AVAILABLE FOR DEBT  SERVICE, CAPITAL, AND TRANSFERS 605,241          1,718,284       (299,976)         2,400,753        2,388,069         1,386,573       2,874,377          DEBT SERVICE: Interest ‐                         ‐                         ‐                         ‐                          ‐                          ‐                        216,667             TOTAL DEBT SERVICE ‐                        ‐                        ‐                        ‐                          ‐                          ‐                       216,667             CAPITAL PROJECTS 158,969           ‐                        ‐                       1,317,020        280,722             ‐                       653,917             TRANSFERS IN ‐                         ‐                        31,667              ‐                          ‐                          ‐                         ‐                          TRANSFERS OUT 1,363                ‐                        34,362             330                    ‐                          ‐                         ‐                          NET TRANSFERS (1,363)              ‐                       (2,695)             (330)                   ‐                          ‐                        ‐                          CHANGE IN FUND BALANCE 444,909          1,718,284       (302,671)         1,083,403        2,107,347         1,386,573       2,003,793          BEGINNING FUND BALANCE, Jan 1 6,259,402       2,266,127       173,750          37,569,067      19,832,351       5,961,906       18,377,556        ENDING FUND BALANCE, May 31 6,704,311$     3,984,411$     (128,921)$       38,652,470$    21,939,698$    7,348,479$     20,381,349$           Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 5 of 7   INTERNAL SERVICE FUNDS  Internal service funds are used to account for the goods and services furnished by one City department to other City  departments on a cost reimbursement basis. The table below displays the year‐to‐date revenues and expenses of the City’s  internal service funds.    Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           107,865$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 1,268,187             ‐                             2,412,090             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             188,932                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             283,335                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,191,338             ‐                              ‐                              ‐                              Interest and other misc 32,458                  88,916                  21,064                  6,102                    3,752                    25,213                  74,351                   Internal service fund misc: Vehicle / equipment capital recovery 684,942                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             715,652                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             590,038                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             4,568,765            676,952                 Other misc 139                         ‐                             1,942                    65,416                   ‐                             484,270                 ‐                              Insurance recoveries ‐                             13,999                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,985,726            1,408,605            2,542,961            2,284,691            476,019                5,078,248            786,548                 EXPENSES: Personnel 459,844                411,373                1,271,568            1,270,451            373,429                3,817,553            430,900                 Supplies 404,620                374                        198,163                258,158                14,616                  6,881                     ‐                              Contracted Services 92,697                  804,828                910,979                543,568                100,020                212,614                22,742                   Internal Services 14,401                   ‐                             752                        29,775                  1,642                    25,179                   ‐                              TOTAL OPERATING EXPENSES 971,562                1,216,575            2,381,462            2,101,952            489,707                4,062,227            453,642                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,014,164            192,030                161,499                182,739                (13,688)                 1,016,021            332,906                 CAPITAL PROJECTS 725,006                 ‐                             27,792                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             12,433                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                              ‐                              ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                              ‐                             12,433                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE 289,158                192,030                146,140                185,631                (17,917)                 1,016,021            332,906                 BEGINNING FUND BALANCE, Jan 1 6,851,811            19,095,508          4,490,062            1,220,276            803,561                5,151,648            15,799,729           ENDING FUND BALANCE, May 31 7,140,969$          19,287,538$        4,636,202$          1,405,907$          785,644$             6,167,669$          16,132,635$                Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 6 of 7   FIDUCIARY FUNDS  Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use  as they are not City assets. The table below displays year‐to‐date revenues and expenditures of the City’s fiduciary funds.    Fire Mitigation Firemens' Pension REVENUES: Grants / intergovernmental ‐$                            165,917$               Charges for services 76,219                    ‐                               Investment Earnings 10,074                   28,707                    TOTAL REVENUES 86,293                   194,624                 EXPENDITURES: Personnel ‐                              87,459                    Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              90,859                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 86,293                   103,765                 BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, May 31 2,206,851$           7,669,667$               Monthly Financial Report                                                               City of Renton, Washington May 2020  Page 7 of 7   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through May 31, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  05/31/20 Total Funds  Available Budgeted  Expenditure Expenditure  05/31/20 Ending Balance GENERAL FUND 48,056,982      125,971,724    53,797,514      101,854,496    134,629,020    48,953,752   52,900,744       SPECIAL REVENUE FUNDS: 1,992,172        1,275,447        1,143,598        3,135,770        780,526           117,218         3,018,552         110 Hotel Motel 943,889           200,000           119,218           1,063,107        429,062           85,378           977,729            125 Municipal Art 98,865              180,660           181,201           280,066           253,790           14,740           265,326            127 Cable Communication 603,760           97,674              44,008              647,768           97,674              17,100           630,668            135 Springbrook Wetlands Bank 345,658            ‐                         1,610                347,268            ‐                          ‐                      347,268            140 Police Seizure ‐                         671,102           671,479           671,479            ‐                          ‐                      671,479            141 Police CSAM Seizure ‐                         126,011           126,082           126,082            ‐                          ‐                      126,082            DEBT SERVICE FUND 3,999,457        8,143,007        242,177           4,241,634        7,162,386        281,471         3,960,163         CAPITAL PROJECT FUNDS (CIP): 61,310,922      43,601,229      7,302,456        68,613,378      87,473,609      6,995,057      61,618,321       303 Community Services Mitigation 1,886,999        86,500              322,299           2,209,298        1,202,364         ‐                      2,209,298         305 Transportation Mitigation 2,942,344        1,435,875        695,985           3,638,329        2,500,656         ‐                      3,638,329         308 REET1 ‐                         3,143,855        2,222,915        2,222,915        1,775,000         ‐                      2,222,915         309 REET2 ‐                         3,143,855        2,222,915        2,222,915        1,775,000         ‐                      2,222,915         316 Municipal Facilities CIP 26,395,567      7,970,026        693,921           27,089,488      30,575,902      2,660,554      24,428,934       317 Transportation CIP 18,947,853      27,739,809      1,098,811        20,046,664      46,419,080      1,534,835      18,511,829       326 Housing Opportunity 2,570,350        6,309                6,309                2,576,659        2,576,659        2,576,659       ‐                          336 New Library Development 16,408               ‐                         252                   16,660               ‐                          ‐                      16,660               346 New Family First Center Dvlpmnt 8,551,401        75,000              39,049              8,590,450        648,948           223,009         8,367,441         ENTERPRISE FUNDS: 90,440,159      99,238,882      36,778,646      127,218,805    155,326,944    28,337,008   98,881,797       4X2 Airport Operating & CIP 6,259,402        3,051,767        1,310,285        7,569,687        8,097,828        865,376         6,704,311         403 Solid Waste Utility 2,266,127        19,616,816      10,497,578      12,763,705      19,476,649      8,779,294      3,984,411         4X4 Golf Operating & CIP 173,750           2,872,920        630,284           804,034           2,650,253        932,955         (128,921)           4X5 Water Operating & CIP 37,569,067      19,516,652      6,602,045        44,171,112      50,487,098      5,518,642      38,652,470       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      4,824,723        24,657,074      26,039,906      2,717,376      21,939,698       416 King County Metro 5,961,906        17,007,226      7,041,641        13,003,547      17,007,226      5,655,068      7,348,479         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      5,872,090        24,249,646      31,567,984      3,868,297      20,381,349       INTERNAL SERVICE FUNDS: 53,412,595      35,418,012      14,583,827      67,996,422      40,458,552      12,439,858   55,556,564       501 Equipment Repair/Replacement 6,851,811        5,662,319        1,985,726        8,837,537        6,954,176        1,696,568      7,140,969         502 Insurance 19,095,508      3,390,962        1,408,605        20,504,113      4,249,334        1,216,575      19,287,538       503 Information Services 4,490,062        5,927,868        2,555,394        7,045,456        8,076,416        2,409,254      4,636,202         504 Facilities 1,220,276        5,328,266        2,293,287        3,513,563        6,102,750        2,107,656      1,405,907         505 Communications 803,561           1,214,441        476,019           1,279,580        1,300,852        493,936         785,644            512 Insurance, Healthcare 5,151,648        12,649,694      5,078,248        10,229,896      12,526,781      4,062,227      6,167,669         522 Insurance, Leoff1 Retirees HC 15,799,729      1,244,462        786,548           16,586,277      1,248,243        453,642         16,132,635       FIDUCIARY FUNDS: 9,686,460        567,000           280,917           9,967,377        314,283           90,859           9,876,518         304 Fire Mitigation 2,120,558        99,000              86,293              2,206,851        113,808            ‐                      2,206,851         611 Firemen's Pension 7,565,902        468,000           194,624           7,760,526        200,475           90,859           7,669,667         TOTAL FUNDS 268,898,747 314,215,301 114,129,135 383,027,882 426,145,320 97,215,223 285,812,659     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 Misty Baker at mbaker@rentonwa.gov or Jan Hawn at jhawn@rentonwa.gov.