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HomeMy WebLinkAboutMONTH 2021 05Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through May 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.    Economic Development and Operating reserves are established internally in accordance with the City’s Policy on Stabilization  Funds, as outlined in the 2021‐2022 Adopted Budget.           General REVENUES: Taxes 42,010,976$       Licenses and permits 2,693,287            Grants / intergovernmental 2,463,938            Charges for services 3,035,700            Fines and penalties 1,586,687            Contributions 465,980               Investment Earnings 126,274               Insurance recoveries 23,980                  TOTAL REVENUES 52,406,822          EXPENDITURES: Personnel 24,366,461          Supplies 457,954               Contracted Services 7,802,504            Capital Outlay 975,036               Internal Services 4,334,306            TOTAL EXPENDITURES 37,936,261          Transfers Out 1,611,686            NET TRANSFERS (1,595,007)           CHANGE IN FUND BALANCE 12,875,554          BEGINNING FUND BALANCE, Jan 1 54,391,582          ENDING FUND BALANCE, May 31 67,267,136          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,301,609            AVAILABLE FUND BALANCE, May 31 55,465,527$       Monthly Financial Report May 2021  Monthly Financial Report                                                               City of Renton, Washington May 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.    Debt service reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the  2021‐2022 Adopted Budget.        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 10,088                    TOTAL REVENUES 99,282                    EXPENDITURES: Principal 188,804                 Interest 735,263                 TOTAL EXPENDITURES 924,067                 Transfers In 1,490,188              NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 665,403                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, May 31 5,676,032$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,958,457$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 73,710$                 ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              37,320                    ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                              24,200                    ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              17,863                    Contributions 20,000                    ‐                               ‐                               ‐                              8,118                      ‐                               Investment Earnings 1,641                     169                        1,248                     654                        1,490                     286                         TOTAL REVENUES 95,351                   169                        38,568                   24,854                   9,608                     18,149                    EXPENDITURES: Supplies ‐                              69                            ‐                               ‐                              20,635                    ‐                               Contracted Services 101,822                32,411                   15,410                    ‐                              23,894                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              53,576                    ‐                               TOTAL EXPENDITURES 101,822                32,480                   15,410                    ‐                              98,105                    ‐                               Transfers In ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (6,471)                    85,589                   23,158                   24,854                   (88,497)                 18,149                    BEGINNING FUND BALANCE, Jan 1 893,604                65,000                   677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, May 31 887,133$              150,589$              700,868$              373,680$              783,952$              168,786$               Monthly Financial Report                                                               City of Renton, Washington May 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 Fire Impact  Mitigation Transportation  Impact  Mitigation REET 1REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                        1,542,832$       1,542,832$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          815,534            3,376,845          ‐                           ‐                           Charges for services 98,257               28,534               255,312             ‐                           ‐                          157,595             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          21,905                ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 3,497                 4,005                 6,413                 5,067                 7,195                 40,221               30,872                ‐                          15,203                TOTAL REVENUES 101,754            32,539               261,725            1,547,899         1,550,027         1,093,350         3,429,622          ‐                          15,203                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          164,968            21,268                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          18,805               31,953                ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          916,077            4,332,575          ‐                          39,999                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,099,850         4,387,466          ‐                          39,999                NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          (16,679)              ‐                           CHANGE IN FUND BALANCE 101,754            32,539               261,725            1,547,899         1,550,027         (6,500)                (957,844)           (16,679)             (24,796)              BEGINNING FUND BALANCE, Jan 1 1,713,833         2,191,452         3,154,954         2,042,269         3,411,866         20,298,663       16,792,413       16,679               8,356,704          ENDING FUND BALANCE, May 31 1,815,587$       2,223,991$       3,416,679$       3,590,168$       4,961,893$       20,292,163$    15,834,569$     ‐$                        8,331,908$        Monthly Financial Report                                                               City of Renton, Washington May 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.    Amounts restricted for debt service are in accordance with revenue bond requirements. Operating reserves are established  internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.          Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        31,125$              ‐$                       13,875$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         603,164              Charges for services 27,865              7,619,424        1,068,997        6,362,634         4,528,442          7,101,643        5,385,422           Fines and penalties ‐                          ‐                          ‐                          ‐                          1,415                   ‐                          ‐                            Rents, leases, and misc fees 1,178,699         ‐                         114,419           74,042                ‐                            ‐                          ‐                            Interest and other misc 14,211              5,085                2,133                297,789             349,769             8,101                115,687              TOTAL REVENUES 1,220,775        7,694,005        1,185,549        6,734,465         4,910,751          7,109,744        6,118,148           EXPENSES: Personnel 438,446           202,777           605,495           1,922,503         928,009              ‐                         1,572,798           Supplies 7,114                345                   144,860           301,274             29,539                ‐                         43,071                Contracted Services 141,925           7,606,050        60,297              1,157,445         863,392             7,256,220        627,436              Internal Services 100,671           82,682              87,565              680,367             503,620              ‐                         699,595              TOTAL OPERATING EXPENSES 688,156           7,891,854        898,217           4,061,589         2,324,560          7,256,220        2,942,900           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 532,619           (197,849)          287,332           2,672,876         2,586,191          (146,476)          3,175,248           TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,193             42,551                ‐                         50,985                CAPITAL OUTLAY 238,979            ‐                         12,662              1,543,248         1,168,689           ‐                         1,838,513           NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 293,640           (197,849)          274,670           685,435             1,374,951          (146,476)          1,285,750           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, May 31 7,852,045$      2,573,713$      751,416$         41,461,749$     25,371,168$     4,583,273$      22,896,106$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 216,784           400,000           641,500           1,624,606         913,756             380,000           1,109,340           AVAILABLE FUND BALANCE 7,635,261$      2,173,713$      109,916$         38,443,093$     23,796,185$     4,203,273$      21,031,898$      Monthly Financial Report                                                               City of Renton, Washington May 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.    Insurance reserves for the Healthcare Fund are established at a rate of 30% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB. Operating reserves are established internally in accordance with the  City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           81,381$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 816,084                 ‐                             1,608,975             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             116,248                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             172,436                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,460,133             ‐                              ‐                              ‐                              Interest and other misc 11,614                  34,504                  6,979                    584                        222                        11,117                  30,159                   Internal service fund misc: Vehicle / equipment capital recovery 875,572                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             435,037                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             571,527                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             5,094,273            656,171                 Other misc 220                        41,181                  23,057                  38,050                   ‐                             164,685                36,171                   Insurance recoveries ‐                             77,051                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,703,490            1,159,300            1,720,392            1,498,767            288,906                5,270,075            722,501                 EXPENSES: Personnel 449,016                474,660                1,185,475            1,193,603            279,272                4,732,588            419,371                 Supplies 533,842                30                          152,031                120,329                8,557                    50                           ‐                              Contracted Services 113,789                872,955                803,009                478,710                61,838                  186,273                21,353                   Internal Services 9,385                     ‐                              ‐                             32,469                  500                        20,044                   ‐                              TOTAL OPERATING EXPENSES 1,106,032            1,347,645            2,140,515            1,825,111            350,167                4,938,955            440,724                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 597,458                (188,345)              (420,123)              (326,344)              (61,261)                 331,120                281,777                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 252,878                 ‐                             35,678                  40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 344,580                (188,345)              (452,203)              (366,407)              (61,261)                 331,120                281,777                 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, May 31 6,720,839$          19,671,863$        3,487,738$          137,760$             90,363$                6,104,549$          16,823,022$         Insurance Reserves ‐                              ‐                              ‐                              ‐                              ‐                             3,774,249            16,823,022           Opearting Reserves ‐                             13,952,413           ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 6,720,839$          5,719,450$          3,487,738$          137,760$             90,363$                2,330,300$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington May 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.       Firemens' Pension Custodial Fund REVENUES: Grants / intergovernmental 138,503$               ‐$                             Investment Earnings 181,368                 ‐                               Collected for Others ‐                              239                         TOTAL REVENUES 319,871                239                         EXPENDITURES: Personnel 95,636                    ‐                               TOTAL EXPENDITURES 95,636                    ‐                               NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 224,235                239                         BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, May 31 8,132,547$           239$                       Monthly Financial Report                                                               City of Renton, Washington May 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 May 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  05/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  05/31/21 Ending Balance GENERAL FUND 54,391,582      113,584,447    52,423,501      106,815,083    131,035,439    39,547,947      67,267,136       SPECIAL REVENUE FUNDS: 3,008,226        464,774           304,599           3,312,825        1,740,357        247,817           3,065,008         110 Hotel Motel 893,604           225,000           95,351             988,955           501,197           101,822           887,133            125 Municipal Art 65,000             117,900           118,069           183,069           118,400           32,480             150,589            127 Cable Communication 677,710           97,674             38,568             716,278           97,674             15,410             700,868            135 Springbrook Wetlands Bank 348,826           24,200             24,854             373,680            ‐                        ‐                       373,680            140 Police Seizure 872,449            ‐                       9,608               882,057           872,449           98,105             783,952            141 Police CSAM Seizure 150,637            ‐                       18,149             168,786           150,637            ‐                       168,786            DEBT SERVICE FUND 5,010,629        7,493,298        1,589,470        6,600,099        7,153,019        924,067           5,676,032         CAPITAL PROJECT FUNDS (CIP): 57,978,833      47,792,209      8,032,119        66,010,952      86,146,476      5,543,994        60,466,958       303 Community Services Mitigation 1,713,833        1,266,283        101,754           1,815,587        1,830,328         ‐                       1,815,587         304 Fire Mitigation 2,191,452        99,000             32,539             2,223,991        436,987            ‐                       2,223,991         305 Transportation Mitigation 3,154,954        200,000           261,725           3,416,679        172,869            ‐                       3,416,679         308 REET1 2,042,269        2,250,000        1,547,899        3,590,168        2,865,000         ‐                       3,590,168         309 REET2 3,411,866        5,427,680        1,550,027        4,961,893        7,066,705         ‐                       4,961,893         316 Municipal Facilities CIP 20,298,663      8,743,218        1,093,350        21,392,013      28,225,409      1,099,850        20,292,163       317 Transportation CIP 16,792,413      29,731,028      3,429,622        20,222,035      44,659,724      4,387,466        15,834,569       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        75,000             15,203             8,371,907        872,775           39,999             8,331,908         ENTERPRISE FUNDS: 101,919,349    100,146,918    34,990,462      136,909,811    160,806,320    31,420,341      105,489,470     4X2 Airport Operating & CIP 7,558,405        3,051,767        1,220,775        8,779,180        8,764,848        927,135           7,852,045         403 Solid Waste Utility 2,771,562        22,641,386      7,694,005        10,465,567      22,589,223      7,891,854        2,573,713         4X4 Golf Operating & CIP 476,746           2,901,275        1,202,574        1,679,320        2,634,100        927,904           751,416            4X5 Water Operating & CIP 40,776,314      17,972,403      6,734,465        47,510,779      49,071,667      6,049,030        41,461,749       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      4,910,751        28,906,968      28,633,537      3,535,800        25,371,168       416 King County Metro 4,729,749        17,607,838      7,109,744        11,839,493      17,607,838      7,256,220        4,583,273         4X7 Surface Water Operating & CIP 21,610,356      24,185,763      6,118,148        27,728,504      31,505,107      4,832,398        22,896,106       INTERNAL SERVICE FUNDS: 53,146,873      39,038,866      12,367,029      65,513,902      37,626,643      12,477,768      53,036,134       501 Equipment Repair/Replacement 6,376,259        6,554,775        1,703,490        8,079,749        5,289,546        1,358,910        6,720,839         502 Insurance 19,860,208      3,533,775        1,159,300        21,019,508      3,698,515        1,347,645        19,671,863       503 Information Services 3,939,941        6,614,378        1,723,990        5,663,931        7,374,069        2,176,193        3,487,738         504 Facilities 504,167           5,996,730        1,498,767        2,002,934        6,168,171        1,865,174        137,760            505 Communications 151,624           1,155,732        288,906           440,530           1,152,826        350,167           90,363              512 Insurance, Healthcare 5,773,429        12,477,543      5,270,075        11,043,504      12,580,831      4,938,955        6,104,549         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        722,501           17,263,746      1,362,685        440,724           16,823,022       FIDUCIARY FUNDS: 7,908,312        385,000           320,110           8,228,422        210,475           95,636             8,132,786         611 Firemens' Pension 7,908,312        385,000           319,871           8,228,183        210,475           95,636             8,132,547         630 Custodial Fund ‐                        ‐                       239                  239                   ‐                        ‐                       239                   TOTAL FUNDS 283,363,804    308,905,512    110,027,290    393,391,094    424,718,729    90,257,570      303,133,524