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HomeMy WebLinkAboutMONTH 2021 03Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through March 31,  2021. 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 18,546,454$       Licenses and permits 1,684,256            Grants / intergovernmental 1,279,304            Charges for services 2,381,993            Fines and penalties 674,603               Contributions 317,597               Investment Earnings 86,736                  Insurance recoveries 23,980                  TOTAL REVENUES 24,994,923          EXPENDITURES: Personnel 14,843,165          Supplies 225,999               Contracted Services 4,755,885            Capital Outlay 701,865               Internal Services 4,312,307            TOTAL EXPENDITURES 24,839,221          Transfers Out 121,498               NET TRANSFERS (121,498)              CHANGE IN FUND BALANCE 34,204                  BEGINNING FUND BALANCE, Jan 1 54,391,582          ENDING FUND BALANCE, Mar 31 54,425,786          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 8,600,000            AVAILABLE FUND BALANCE, Mar 31 43,325,786$       Monthly Financial Report March 2021  Monthly Financial Report                                                               City of Renton, Washington March 2021  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.        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.      General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 89,194$                 Investment Earnings 7,526                      TOTAL REVENUES 96,720                    EXPENDITURES: Principal 188,804                 Interest 61,513                    TOTAL EXPENDITURES 250,317                 NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (153,597)                BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Mar 31 4,857,032$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 42,565$                 ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              18,901                    ‐                               ‐                               ‐                               Interdepartmental services ‐                               ‐                               ‐                              24,200                    ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              9,949                      Contributions ‐                               ‐                               ‐                               ‐                              8,118                      ‐                               Investment Earnings 1,210                     94                           908                        471                        1,098                     204                         TOTAL REVENUES 43,775                   94                           19,809                   24,671                   9,216                     10,153                    EXPENDITURES: Supplies ‐                              32                            ‐                               ‐                              20,379                    ‐                               Contracted Services 56,505                   22,293                   3,820                      ‐                              13,625                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              31,504                    ‐                               TOTAL EXPENDITURES 56,505                   22,325                   3,820                      ‐                              65,508                    ‐                               Transfers In ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (12,730)                 95,669                   15,989                   24,671                   (56,292)                 10,153                    BEGINNING FUND BALANCE, Jan 1 893,604                65,000                   677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Mar 31 880,874$              160,669$              693,699$              373,497$              816,157$              160,790$               Monthly Financial Report                                                               City of Renton, Washington March 2021  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 New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        777,111$          777,111$           ‐$                         ‐$                         ‐$                         ‐$                         Licenses and permits ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          657,353            3,181,248          ‐                           ‐                           Charges for services 70,924               177,329             ‐                           ‐                          133,730             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          12,837                ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 2,624                 4,764                 3,496                 4,933                 30,200               22,911                ‐                          11,132                TOTAL REVENUES 73,548               182,093            780,607            782,044            901,283            3,216,996          ‐                          11,132                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          138,405            13,933                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          18,420               13,931                ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          335,909            1,638,724          ‐                          25,513                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          492,734            1,666,588          ‐                          25,513                NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 73,548               182,093            780,607            782,044            408,549            1,550,408          ‐                          (14,381)              BEGINNING FUND BALANCE, Jan 1 1,713,833         3,154,954         2,042,269         3,411,866         20,298,663       16,792,413       16,679               8,356,704          ENDING FUND BALANCE, Mar 31 1,787,381$       3,337,047$       2,822,876$       4,193,910$       20,707,212$    18,342,821$    16,679$            8,342,323$        Monthly Financial Report                                                               City of Renton, Washington March 2021  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 ‐$                        ‐$                        ‐$                        ‐$                        18,375$              ‐$                       10,500$              Grants / intergovernmental ‐                         62,807               ‐                          ‐                           ‐                            ‐                         229,949              Charges for services 15,709              5,189,285        428,492           3,748,189         2,718,718          4,226,071        3,249,026           Fines and penalties ‐                          ‐                          ‐                          ‐                          695                      ‐                          ‐                            Rents, leases, and misc fees 811,952            ‐                         34,674              51,334                ‐                            ‐                          ‐                            Interest and other misc 10,288              3,463                1,471                219,172             175,857             5,872                99,013                TOTAL REVENUES 837,949           5,255,555        464,637           4,018,695         2,913,645          4,231,943        3,588,488           EXPENSES: Personnel 257,617           115,590           348,236           1,149,257         554,170              ‐                         938,278              Supplies 5,774                341                   53,211              181,484             16,040                ‐                         25,264                Contracted Services 79,516              4,154,576        39,562              653,815             505,487             4,369,980        385,637              Internal Services 100,067           80,262              87,565              673,808             494,334              ‐                         681,256              TOTAL OPERATING EXPENSES 442,974           4,350,769        528,574           2,658,364         1,570,031          4,369,980        2,030,435           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 394,975           904,786           (63,937)            1,360,331         1,343,614          (138,037)          1,558,053           TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 52,569               ‐                          ‐                         659,420             331,771              ‐                         503,171              NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 342,406           904,786           (63,937)            700,911             1,011,843          (138,037)          1,054,882           BEGINNING FUND BALANCE, Jan 1 7,558,405        2,771,562        476,746           40,776,314       23,996,217       4,729,749        21,610,356        ENDING FUND BALANCE, Mar 31 7,900,811$      3,676,348$      412,809$         41,477,225$     25,008,060$     4,591,712$      22,665,238$      Monthly Financial Report                                                               City of Renton, Washington March 2021  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 ‐$                            ‐$                           51,853$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 787,316                 ‐                             1,608,975             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             116,248                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             172,436                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,460,133             ‐                              ‐                              ‐                              Interest and other misc 8,239                    24,799                  5,152                    431                        165                        8,089                    21,911                   Internal service fund misc: Vehicle / equipment capital recovery 875,572                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             435,037                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             340,939                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             3,045,846            656,171                 Other misc 90                           ‐                             23,057                  38,050                   ‐                             104,230                17,132                   Insurance recoveries ‐                             60,589                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,671,217            861,364                1,689,037            1,498,614            288,849                3,158,165            695,214                 EXPENSES: Personnel 276,350                275,948                711,094                722,413                167,512                2,726,936            258,713                 Supplies 311,695                30                          122,184                57,911                  5,236                     ‐                              ‐                              Contracted Services 59,272                  672,718                398,225                275,120                39,306                  133,336                12,217                   Internal Services 7,977                     ‐                              ‐                             32,427                  500                        20,044                   ‐                              TOTAL OPERATING EXPENSES 655,294                948,696                1,231,503            1,087,871            212,554                2,880,316            270,930                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,015,923            (87,332)                 457,534                410,743                76,295                  277,849                424,284                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 115,671                 ‐                             9,435                     ‐                              ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 900,252                (87,332)                 451,697                410,743                76,295                  277,849                424,284                 BEGINNING FUND BALANCE, Jan 1 6,376,259            19,860,208          3,939,941            504,167                151,624                5,773,429            16,541,245           ENDING FUND BALANCE, Mar 31 7,276,511$          19,772,876$        4,391,638$          914,910$             227,919$             6,051,278$          16,965,529$         Monthly Financial Report                                                               City of Renton, Washington March 2021  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: Charges for services 17,650$                 ‐$                             Investment Earnings 2,921                     9,448                      TOTAL REVENUES 20,571                   9,448                      EXPENDITURES: Personnel ‐                              59,523                    TOTAL EXPENDITURES ‐                              59,523                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 20,571                   (50,075)                  BEGINNING FUND BALANCE, Jan 1 2,191,452             7,908,312              ENDING FUND BALANCE, Mar 31 2,212,023$           7,858,237$            Monthly Financial Report                                                               City of Renton, Washington March 2021  Page 7 of 7                     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 Kari Roller at kroller@rentonwa.gov.   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through March 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  03/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  03/31/21 Ending Balance GENERAL FUND 54,391,582      111,532,172    24,994,923      79,386,505      127,506,500    24,960,719      54,425,786       SPECIAL REVENUE FUNDS: 3,008,226        415,574           225,618           3,233,844        215,574           148,158           3,085,686         110 Hotel Motel 893,604           200,000           43,775             937,379            ‐                       56,505             880,874            125 Municipal Art 65,000             117,900           117,994           182,994           117,900           22,325             160,669            127 Cable Communication 677,710           97,674             19,809             697,519           97,674             3,820               693,699            135 Springbrook Wetlands Bank 348,826            ‐                       24,671             373,497            ‐                        ‐                       373,497            140 Police Seizure 872,449            ‐                       9,216               881,665            ‐                       65,508             816,157            141 Police CSAM Seizure 150,637            ‐                       10,153             160,790            ‐                        ‐                       160,790            DEBT SERVICE FUND 5,010,629        7,145,018        96,720             5,107,349        7,153,019        250,317           4,857,032         CAPITAL PROJECT FUNDS (CIP): 55,787,381      9,688,685        5,947,703        61,735,084      10,758,708      2,184,835        59,550,249       303 Community Services Mitigation 1,713,833        86,500             73,548             1,787,381        316,000            ‐                       1,787,381         305 Transportation Mitigation 3,154,954        200,000           182,093           3,337,047        200,000            ‐                       3,337,047         308 REET1 2,042,269        2,250,000        780,607           2,822,876        2,865,000         ‐                       2,822,876         309 REET2 3,411,866        2,250,000        782,044           4,193,910        3,248,025         ‐                       4,193,910         316 Municipal Facilities CIP 20,298,663      2,702,185        901,283           21,199,946      2,954,433        492,734           20,707,212       317 Transportation CIP 16,792,413      2,200,000        3,216,996        20,009,409      675,250           1,666,588        18,342,821       336 New Library Development 16,679              ‐                        ‐                       16,679              ‐                        ‐                       16,679              346 New Family First Center Dvlpmnt 8,356,704         ‐                       11,132             8,367,836        500,000           25,513             8,342,323         ENTERPRISE FUNDS: 101,919,349    88,390,867      21,327,937      123,247,286    81,552,537      17,515,083      105,732,203     4X2 Airport Operating & CIP 7,558,405        3,051,767        837,949           8,396,354        2,994,840        495,543           7,900,811         403 Solid Waste Utility 2,771,562        22,641,386      5,255,555        8,027,117        22,575,534      4,350,769        3,676,348         4X4 Golf Operating & CIP 476,746           2,901,275        481,662           958,408           2,634,100        545,599           412,809            4X5 Water Operating & CIP 40,776,314      17,972,403      4,018,695        44,795,009      14,934,718      3,317,784        41,477,225       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      2,913,645        26,909,862      10,310,968      1,901,802        25,008,060       416 King County Metro 4,729,749        17,607,838      4,231,943        8,961,692        17,607,838      4,369,980        4,591,712         4X7 Surface Water Operating & CIP 21,610,356      12,429,712      3,588,488        25,198,844      10,494,539      2,533,606        22,665,238       INTERNAL SERVICE FUNDS: 53,146,873      39,017,389      9,866,058        63,012,931      35,926,656      7,412,270        55,600,661       501 Equipment Repair/Replacement 6,376,259        6,554,775        1,671,217        8,047,476        4,957,803        770,965           7,276,511         502 Insurance 19,860,208      3,533,775        861,364           20,721,572      3,276,889        948,696           19,772,876       503 Information Services 3,939,941        6,592,901        1,692,635        5,632,576        6,427,451        1,240,938        4,391,638         504 Facilities 504,167           5,996,730        1,498,614        2,002,781        6,168,171        1,087,871        914,910            505 Communications 151,624           1,155,732        288,849           440,473           1,152,826        212,554           227,919            512 Insurance, Healthcare 5,773,429        12,477,543      3,158,165        8,931,594        12,580,831      2,880,316        6,051,278         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        695,214           17,236,459      1,362,685        270,930           16,965,529       FIDUCIARY FUNDS: 10,099,764      484,000           30,019             10,129,783      647,462           59,523             10,070,260       304 Fire Mitigation 2,191,452        99,000             20,571             2,212,023        436,987            ‐                       2,212,023         611 Firemens' Pension 7,908,312        385,000           9,448               7,917,760        210,475           59,523             7,858,237         TOTAL FUNDS 283,363,804 256,673,705 62,488,978    345,852,782 263,760,456 52,530,905    293,321,877