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HomeMy WebLinkAboutMONTH 2021 07Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through July 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 53,271,822$       Licenses and permits 3,337,179            Grants / intergovernmental 3,809,404            Charges for services 5,120,384            Fines and penalties 2,704,001            Miscellaneous 643,326               Sale of general fixed assets 41,718                  Investment Earnings 168,607               Insurance recoveries 25,288                  TOTAL REVENUES 69,121,729          EXPENDITURES: Personnel 34,697,511          Supplies 696,771               Contracted Services 10,904,100          Capital Outlay 986,222               Internal Services 8,586,927            TOTAL EXPENDITURES 55,871,531          Transfers In 16,679                  Transfers Out 1,532,525            NET TRANSFERS (1,515,846)           CHANGE IN FUND BALANCE 11,734,352          BEGINNING FUND BALANCE, Jan 1 54,456,582          ENDING FUND BALANCE, Jul 31 66,190,934          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,405,500            AVAILABLE FUND BALANCE, Jul 31 54,285,434$       Monthly Financial Report July 2021  Monthly Financial Report                                                               City of Renton, Washington July 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 114,740$               Investment Earnings 13,101                    TOTAL REVENUES 127,841                 EXPENDITURES: Principal 403,804                 Interest 762,955                 TOTAL EXPENDITURES 1,166,759              Transfers In 1,490,188              NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 451,270                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Jul 31 5,461,899$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,744,324$            Hotel‐Motel Tax Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 119,941$               ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              55,098                    ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                              21,512                    Contributions 20,000                    ‐                               ‐                              8,118                      ‐                               Investment Earnings 2,112                     1,619                     852                        1,896                     376                         TOTAL REVENUES 142,053                56,717                   852                        10,014                   21,888                    EXPENDITURES: Supplies ‐                              5,722                      ‐                              21,771                    ‐                               Contracted Services 153,139                18,270                    ‐                              36,544                    ‐                               Capital Outlay ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 153,139                23,992                    ‐                              142,719                 ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (11,086)                 32,725                   852                        (132,705)               21,888                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Jul 31 882,518$              710,435$              349,678$              739,744$              172,525$               Monthly Financial Report                                                               City of Renton, Washington July 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 ‐$                         ‐$                         ‐$                        2,621,132$       2,621,132$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          855,207            4,909,850          ‐                           ‐                           Charges for services 179,103            174,418            1,333,003          ‐                           ‐                          157,595             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          26,850                ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 4,477                 5,223                 8,518                 7,132                 9,987                 50,888               39,261                ‐                          19,615                TOTAL REVENUES 183,580            179,641            1,341,521         2,628,264         2,631,119         1,143,690         4,975,961          ‐                          19,615                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          289,813            37,664                ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          1,670                  ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          20,666               62,487                ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          1,574,963         6,938,315          ‐                          58,789                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,885,442         7,040,136          ‐                          58,789                Transfers In 1,179,783          ‐                           ‐                           ‐                          3,177,680          ‐                           ‐                           ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                          4,357,463          ‐                          16,679                ‐                           NET TRANSFERS 1,179,783          ‐                           ‐                           ‐                          3,177,680         (4,357,463)         ‐                          (16,679)              ‐                           CHANGE IN FUND BALANCE 1,363,363         179,641            1,341,521         2,628,264         5,808,799         (5,099,215)        (2,064,175)        (16,679)             (39,174)              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, Jul 31 3,077,196$       2,371,093$       4,496,475$       4,670,533$       9,220,665$       15,199,448$    14,728,238$     ‐$                        8,317,530$        Monthly Financial Report                                                               City of Renton, Washington July 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 ‐$                        ‐$                        ‐$                        ‐$                        56,250$              ‐$                       19,875$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         858,651              Charges for services 49,610              8,792,529        1,768,127        9,745,979         6,429,525          10,126,336      7,557,192           Fines and penalties ‐                          ‐                          ‐                          ‐                          2,419                   ‐                          ‐                            Rents, leases, and misc fees 1,868,207         ‐                         221,938           95,709                ‐                            ‐                          ‐                            Interest and other misc 19,462              6,602                2,542                429,780             507,080             10,537              477,426              TOTAL REVENUES 1,937,279        8,868,627        1,992,607        10,271,468       6,995,274          10,136,873      8,913,144           EXPENSES: Personnel 627,782           305,951           885,791           2,690,924         1,310,343           ‐                         2,188,819           Supplies 13,595              471                   225,301           493,104             49,831                ‐                         79,515                Contracted Services 217,128           8,536,993        97,038              1,750,262         1,226,273          10,138,125      1,043,227           Internal Services 199,890           160,046           175,129           1,345,821         1,006,204           ‐                         1,372,217           TOTAL OPERATING EXPENSES 1,058,395        9,003,461        1,383,259        6,280,111         3,592,651          10,138,125      4,683,778           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 878,884           (134,834)          609,348           3,991,357         3,402,623          (1,252)               4,229,366           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,375               42,551                ‐                         50,985                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,193             42,551                ‐                         50,985                CAPITAL OUTLAY 395,483            ‐                         12,662              2,272,432         3,692,908           ‐                         3,399,595           Transfers In ‐                          ‐                         34,050               ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                         94                      34,050              469                     94                        ‐                         18,441                NET TRANSFERS ‐                         (94)                     ‐                         (469)                   (94)                       ‐                         (18,441)               CHANGE IN FUND BALANCE 483,401           (134,928)          596,686           1,274,263         (332,930)            (1,252)               760,345              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, Jul 31 8,041,806$      2,636,634$      1,073,432$      42,050,577$     23,663,287$     4,728,497$      22,370,701$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 223,124           400,000           641,500           1,614,304         914,224             380,000           1,116,680           AVAILABLE FUND BALANCE 7,818,682$      2,236,634$      431,932$         39,042,223$     22,087,836$     4,348,497$      20,499,153$      Monthly Financial Report                                                               City of Renton, Washington July 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 31% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           117,426$              ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 1,562,273             ‐                             3,217,950             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             232,495                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             344,871                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,920,265             ‐                              ‐                              ‐                              Interest and other misc 15,563                  44,956                  9,148                    971                        330                        14,357                  39,221                   Internal service fund misc: Vehicle / equipment capital recovery 1,751,144             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             870,074                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             816,748                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             7,126,252            1,312,342             Other misc 335                        41,181                  25,192                  76,100                   ‐                             164,685                36,171                   Disposal of capital assets 460                         ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             84,743                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,329,775            1,857,702            3,369,716            2,997,336            577,696                7,305,294            1,387,734             EXPENSES: Personnel 623,820                760,073                1,676,348            1,688,161            391,219                6,834,610            614,120                 Supplies 752,274                30                          213,086                200,472                13,650                  844                         ‐                              Contracted Services 197,460                2,004,588            1,111,814            696,290                95,378                  257,728                28,566                   Internal Services 16,969                   ‐                              ‐                             64,841                  1,000                    40,088                   ‐                              TOTAL OPERATING EXPENSES 1,590,523            2,764,691            3,001,248            2,649,764            501,247                7,133,270            642,686                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,739,252            (906,989)              368,468                347,572                76,449                  172,024                745,048                 CAPITAL OUTLAY 253,304                 ‐                             111,178                40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             61,060                   ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             61,060                   ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 1,485,948            (906,989)              318,350                307,509                76,449                  172,024                745,048                 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, Jul 31 7,862,207$          18,953,219$        4,258,291$          811,676$             228,073$             5,945,453$          17,286,293$         Insurance Reserves ‐                             17,708,251           ‐                              ‐                              ‐                             3,774,249            17,286,293           AVAILABLE FUND BALANCE 7,862,207$          1,244,968$          4,258,291$          811,676$             228,073$             2,171,204$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington July 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 171,854$               ‐$                             Investment Earnings 185,310                 ‐                               Collected for Others ‐                              1,015,575              TOTAL REVENUES 357,164                1,015,575              EXPENDITURES: Personnel 132,536                 ‐                               Distributions to Others ‐                              803,411                 TOTAL EXPENDITURES 132,536                803,411                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 224,628                212,164                 BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Jul 31 8,132,940$           212,164$               Monthly Financial Report                                                               City of Renton, Washington July 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 July 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  07/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  07/31/21 Ending Balance GENERAL FUND 54,456,582      106,428,899    69,138,408      123,594,990    117,568,755    57,404,056      66,190,934       SPECIAL REVENUE FUNDS: 2,943,226        346,874           231,524           3,174,750        1,621,957        319,850           2,854,900         110 Hotel Motel 893,604           225,000           142,053           1,035,657        501,197           153,139           882,518            127 Cable Communication 677,710           97,674             56,717             734,427           97,674             23,992             710,435            135 Springbrook Wetlands Bank 348,826           24,200             852                  349,678            ‐                        ‐                       349,678            140 Police Seizure 872,449            ‐                       10,014             882,463           872,449           142,719           739,744            141 Police CSAM Seizure 150,637            ‐                       21,888             172,525           150,637            ‐                       172,525            DEBT SERVICE FUND 5,010,629        7,493,298        1,618,029        6,628,658        7,153,019        1,166,759        5,461,899         CAPITAL PROJECT FUNDS (CIP): 57,978,833      49,352,571      17,460,854      75,439,687      88,353,225      13,358,509      62,081,178       303 Community Services Mitigation 1,713,833        1,571,464        1,363,363        3,077,196        2,080,328         ‐                       3,077,196         304 Fire Mitigation 2,191,452        99,000             179,641           2,371,093        436,987            ‐                       2,371,093         305 Transportation Mitigation 3,154,954        200,000           1,341,521        4,496,475        172,869            ‐                       4,496,475         308 REET1 2,042,269        2,250,000        2,628,264        4,670,533        2,865,000         ‐                       4,670,533         309 REET2 3,411,866        5,427,680        5,808,799        9,220,665        7,066,705         ‐                       9,220,665         316 Municipal Facilities CIP 20,298,663      9,298,399        1,143,690        21,442,353      29,421,290      6,242,905        15,199,448       317 Transportation CIP 16,792,413      30,431,028      4,975,961        21,768,374      45,420,592      7,040,136        14,728,238       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        75,000             19,615             8,376,319        872,775           58,789             8,317,530         ENTERPRISE FUNDS: 101,919,349    100,835,029    49,149,322      151,068,671    162,046,971    46,503,737      104,564,934     4X2 Airport Operating & CIP 7,558,405        3,109,929        1,937,279        9,495,684        9,365,368        1,453,878        8,041,806         403 Solid Waste Utility 2,771,562        22,954,522      8,868,627        11,640,189      22,902,330      9,003,555        2,636,634         4X4 Golf Operating & CIP 476,746           3,126,584        2,026,657        2,503,403        2,890,419        1,429,971        1,073,432         4X5 Water Operating & CIP 40,776,314      17,972,403      10,271,468      51,047,782      48,985,805      8,997,205        42,050,577       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      6,995,274        30,991,491      28,637,433      7,328,204        23,663,287       416 King County Metro 4,729,749        17,607,838      10,136,873      14,866,622      17,607,838      10,138,125      4,728,497         4X7 Surface Water Operating & CIP 21,610,356      24,277,267      8,913,144        30,523,500      31,657,778      8,152,799        22,370,701       INTERNAL SERVICE FUNDS: 53,146,873      38,947,486      20,886,313      74,033,186      37,627,541      18,687,974      55,345,212       501 Equipment Repair/Replacement 6,376,259        6,463,395        3,329,775        9,706,034        5,289,546        1,843,827        7,862,207         502 Insurance 19,860,208      3,533,775        1,857,702        21,717,910      3,698,515        2,764,691        18,953,219       503 Information Services 3,939,941        6,614,378        3,430,776        7,370,717        7,374,069        3,112,426        4,258,291         504 Facilities 504,167           5,996,730        2,997,336        3,501,503        6,169,069        2,689,827        811,676            505 Communications 151,624           1,155,732        577,696           729,320           1,152,826        501,247           228,073            512 Insurance, Healthcare 5,773,429        12,477,543      7,305,294        13,078,723      12,580,831      7,133,270        5,945,453         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        1,387,734        17,928,979      1,362,685        642,686           17,286,293       FIDUCIARY FUNDS: 7,908,312        385,000           1,372,739        9,281,051        210,475           935,947           8,345,104         611 Firemens' Pension 7,908,312        385,000           357,164           8,265,476        210,475           132,536           8,132,940         630 Custodial Fund ‐                        ‐                       1,015,575        1,015,575         ‐                       803,411           212,164            TOTAL FUNDS 283,363,804    303,789,157    159,857,189    443,220,993    414,581,943    138,376,832    304,844,161