Loading...
HomeMy WebLinkAboutMONTH 2022 03Page 1 of 8   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through March 31,  2022. 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 18,887,682$       Licenses and permits 2,228,173            Grants / intergovernmental 1,041,125            Charges for services 2,277,969            Fines and penalties 1,060,576            Miscellaneous 570,387               Sale of general fixed assets 2,000                    Investment Earnings 66,686                  Insurance recoveries 2,631                    TOTAL REVENUES 26,137,229          EXPENDITURES: Personnel 15,840,596          Supplies 374,593               Contracted Services 4,205,540            Capital Outlay 16,190                  Internal Services 4,318,787            TOTAL EXPENDITURES 24,981,015          Transfers In ‐                             Transfers Out 1,410                    NET TRANSFERS (1,410)                   CHANGE IN FUND BALANCE 1,154,804            BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 3,851                    BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,106,513          ENDING FUND BALANCE, Mar 31 70,261,317$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 23,710,086          AVAILABLE FUND BALANCE, Mar 31 44,051,231$       Monthly Financial Report March 2022  Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 2 of 8   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 ‐$                             Investment Earnings 3,877                      TOTAL REVENUES 3,877                      EXPENDITURES: Principal 195,873                 Interest 78,675                    TOTAL EXPENDITURES 274,548                 Transfers In ‐                               NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (270,671)                BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Mar 31 4,947,454$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,229,879$            Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 3 of 8      Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 99,262$                 ‐$                            1,017,318$            ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              16,597                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              1,347                      Contributions (0)                             ‐                               ‐                               ‐                              1,881                      ‐                               Investment Earnings 579                        565                        2,675                     177                        459                        133                         Sale of Fixed Assets ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL REVENUES 99,841                   17,162                   1,019,993             177                        2,340                     1,480                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              1,610                      ‐                               ‐                               Supplies ‐                              6,205                      ‐                               ‐                              41,304                    ‐                               Contracted Services 53,048                   1,930                      ‐                              358                        52,410                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              75,622                    ‐                               TOTAL EXPENDITURES 53,048                   8,135                      ‐                              1,968                     169,336                 ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 46,793                   9,027                     1,019,993             (1,791)                    (166,996)               1,480                      BEGINNING FUND BALANCE, Jan 1 728,421                731,245                3,171,729             234,325                631,525                174,826                 Prior Period Adjustment ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 728,421                731,245                3,171,729             234,325                631,525                174,826                 ENDING FUND BALANCE, Mar 31 775,214$              740,272$              4,191,722$           232,534$              464,529$              176,306$               Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 4 of 8   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 School District  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                         ‐$                        702,522$          702,523$           ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          2,862,103         1,454,850          Charges for services 64,747               139,980            1,941,631         139,636             ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          (10)                      ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 2,621                 1,529                 4,619                 37                       3,600                 6,838                 12,633               8,595                 6,432                  TOTAL REVENUES 67,368               141,509            1,946,250         139,673            706,122            709,361            12,633               2,870,688         1,461,282          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          102,612            24,351                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                          100,647             ‐                           ‐                          28,358               7,057                 20,316                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          786,776            4,528,166         1,196,019          TOTAL EXPENDITURES ‐                           ‐                          100,647             ‐                           ‐                          917,746            4,559,574         1,216,335          Transfers In ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 67,368               141,509            1,946,250         39,026               706,122            709,361            (905,113)           (1,688,886)        244,947             BEGINNING FUND BALANCE, Jan 1 3,433,393         1,960,733         5,159,035         12                       4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          Prior Period Adjustment ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           BEGINNING FUND BALANCE, Jan 1 ‐ restated 3,433,393         1,960,733         5,159,035         12                       4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          ENDING FUND BALANCE, Mar 31 3,500,761$       2,102,242$       7,105,285$       39,038$            5,214,239$       9,482,506$       15,919,670$    9,179,967$       8,483,882$        Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 5 of 8   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 ‐$                        ‐$                        ‐$                        ‐$                        33,579$              ‐$                       5,967$                Grants / intergovernmental 2,862                 ‐                          ‐                          ‐                           ‐                            ‐                         890,479              Charges for services 938,122           5,409,524        423,369           3,896,634         2,908,832          4,655,175        3,161,421           Fines and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         54,409              50,823                ‐                            ‐                          ‐                            Interest and other misc 6,056                3,813                226,575           111,028             173,357             4,036                209,370              TOTAL REVENUES 966,177           5,413,337        704,353           4,058,485         3,115,824          4,659,211        4,267,237           EXPENSES: Personnel 272,326           137,432           380,274           1,039,378         605,067              ‐                         907,775              Supplies 32,414              4,621                43,226              245,004             14,767                ‐                         21,858                Contracted Services 168,691           4,375,817        28,804              733,842             526,469             3,042,249        363,132              Internal Services 100,489           77,139              90,138              662,896             497,934              ‐                         629,489              TOTAL OPERATING EXPENSES 573,920           4,595,009        542,442           2,681,120         1,644,237          3,042,249        1,922,254           CAPITAL, AND TRANSFERS 392,257           818,328           161,911           1,377,365         1,471,587          1,616,962        2,344,983           DEBT SERVICE: Principal ‐                          ‐                         3,664                 ‐                           ‐                            ‐                          ‐                            Interest ‐                          ‐                         188                    ‐                           ‐                            ‐                          ‐                            TOTAL DEBT SERVICE ‐                          ‐                         3,852                 ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 2,697                 ‐                         16,167              1,022,419         1,034,819           ‐                         906,108              Transfers In ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 389,560           818,328           141,892           354,946             436,768             1,616,962        1,438,875           BEGINNING FUND BALANCE, Jan 1 7,741,751        3,392,243        1,222,897        43,849,867       20,788,687       3,764,012        21,682,758        ENDING FUND BALANCE, Mar 31 8,131,311$      4,210,571$      1,364,789$      44,204,813$     21,225,455$     5,380,974$      23,121,633$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,051         661,227              ‐                    754,868              Operating Reserve 225,548           400,000           659,742           1,441,834         1,376,133          380,000           981,300              AVAILABLE FUND BALANCE 7,905,763$      3,810,571$      705,047$         41,368,928$     19,188,095$     5,000,974$      21,385,465$      Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 6 of 8   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 ‐$                            ‐$                           55,591$                 ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Charges for services: Equipment rental m&o 790,378                 ‐                             1,644,595             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             117,731                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             178,920                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,505,789             ‐                              ‐                              ‐                              Interest and other misc 7,590                    15,293                  2,552                    352                        53                          5,195                    13,760                   Internal service fund misc: Vehicle / equipment capital recovery 815,843                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             441,904                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             370,793                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             3,195,131            656,171                 Other misc 778                        104,843                319                        23,658                   ‐                             94,155                  29,691                   Disposal of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             16,429                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,637,019            949,262                1,703,057            1,529,799            296,704                3,294,481            699,622                 EXPENSES: Personnel 274,121                219,470                771,556                861,733                194,938                2,613,359            272,108                 Supplies 375,630                 ‐                             801,183                166,477                9,688                     ‐                              ‐                              Contracted Services 64,541                  754,213                831,363                251,293                71,137                  135,974                13,660                   Internal Services 7,692                     ‐                              ‐                             32,696                  509                        20,933                   ‐                              TOTAL OPERATING EXPENSES 721,984                973,683                2,404,102            1,312,199            276,272                2,770,266            285,768                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 915,035                (24,421)                 (701,045)              217,600                20,432                  524,215                413,854                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY ‐                              ‐                             13,336                   ‐                              ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             1,410                     ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             1,410                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 915,035                (24,421)                 (712,971)              217,600                20,432                  524,215                413,854                 BEGINNING FUND BALANCE, Jan 1 10,125,169          20,494,538          3,653,455            785,189                141,517                6,655,137            18,188,260           ENDING FUND BALANCE, Mar 31 11,040,204$        20,470,117$        2,940,484$          1,002,789$          161,949$             7,179,352$          18,602,114$         Insurance Reserves ‐                             17,466,112           ‐                              ‐                              ‐                             4,105,029            18,602,114           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 11,040,204$        3,004,005$          2,940,484$          1,002,789$          161,949$             3,074,323$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 7 of 8   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: Intergovernmental ‐$                             ‐$                             Investment Earnings 5,883                      ‐                               Collected for Others ‐                              604,228                 TOTAL REVENUES 5,883                     604,228                 EXPENDITURES: Distributions to Others 100,366                106,272                 TOTAL EXPENDITURES 62,479                   106,272                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE (56,596)                 497,956                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Mar 31 8,314,587$           497,956$               Monthly Financial Report                                                               City of Renton, Washington March 2022  Page 8 of 8             CONTACT INFORMATION  This report is prepared by the Finance 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 Nate Malone  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through March 31, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  03/31/22 Total Funds  Available Budgeted  Expenditure Expenditure  03/31/22 Ending Balance GENERAL FUND 69,102,662      129,016,691    26,141,080      95,243,742      134,221,843    24,982,425      70,261,317       SPECIAL REVENUE FUNDS: 5,672,071        3,747,674        1,140,993        6,813,064        3,502,767        232,487           6,580,577         110 Hotel Motel 728,421           200,000           99,841             828,262           508,207           53,048             775,214            127 Cable Communication 731,245           57,674             17,162             748,407           427,209           8,135               740,272            130 Housing and Supportive Services 3,171,729        3,490,000        1,019,993        4,191,722        1,710,000         ‐                       4,191,722         135 Springbrook Wetlands Bank 234,325            ‐                       177                  234,502           51,000             1,968               232,534            140 Police Seizure 631,525            ‐                       2,340               633,865           631,525           169,336           464,529            141 Police CSAM Seizure 174,826            ‐                       1,480               176,306           174,826            ‐                       176,306            DEBT SERVICE FUND 5,218,125        4,533,969        3,877               5,222,002        4,341,920        274,548           4,947,454         CAPITAL PROJECT FUNDS (CIP): 59,767,006      66,459,439      8,054,886        67,821,892      110,956,998    6,794,302        61,027,590       303 Community Services Mitigation 3,433,393        86,500             67,368             3,500,761        3,380,595         ‐                       3,500,761         304 Fire Mitigation 1,960,733        99,000             141,509           2,102,242        500,634            ‐                       2,102,242         305 Transportation Mitigation 5,159,035        200,000           1,946,250        7,105,285        200,000            ‐                       7,105,285         308 REET1 4,508,117        2,300,000        706,122           5,214,239        5,579,996         ‐                       5,214,239         309 REET2 8,773,145        2,300,000        709,361           9,482,506        9,921,118         ‐                       9,482,506         31X School District Impact Mitigation 12                    995,000           139,673           139,685           995,000           100,647           39,038              316 Municipal Facilities CIP 16,824,783      14,905,867      12,633             16,837,416      31,728,133      917,746           15,919,670       317 Transportation CIP 10,868,853      33,114,072      2,870,688        13,739,541      41,373,264      4,559,574        9,179,967         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      1,461,282        9,700,217        17,278,258      1,216,335        8,483,882         ENTERPRISE FUNDS: 102,442,215    107,654,744    23,184,624      125,626,839    162,957,683    17,987,293      107,639,546     4X2 Airport Operating & CIP 7,741,751        3,281,007        966,177           8,707,928        9,181,221        576,617           8,131,311         403 Solid Waste Utility 3,392,243        24,133,272      5,413,337        8,805,580        24,832,757      4,595,009        4,210,571         4X4 Golf Operating & CIP 1,222,897        3,228,832        704,353           1,927,250        3,154,944        562,461           1,364,789         4X5 Water Operating & CIP 43,849,867      19,107,026      4,058,485        47,908,352      49,435,971      3,703,539        44,204,813       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      3,115,824        23,904,511      25,851,368      2,679,056        21,225,455       416 King County Metro 3,764,012        18,495,877      4,659,211        8,423,223        18,495,877      3,042,249        5,380,974         4X7 Surface Water Operating & CIP 21,682,758      27,182,017      4,267,237        25,949,995      32,005,545      2,828,362        23,121,633       INTERNAL SERVICE FUNDS: 60,043,265      43,410,655      10,111,354      70,154,619      44,947,697      8,757,610        61,397,009       501 Equipment Repair/Replacement 10,125,169      6,481,285        1,637,019        11,762,188      6,617,918        721,984           11,040,204       502 Insurance 20,494,538      3,714,015        949,262           21,443,800      4,387,888        973,683           20,470,117       503 Information Services 3,653,455        9,526,701        1,704,467        5,357,922        10,907,503      2,417,438        2,940,484         504 Facilities 785,189           6,194,170        1,529,799        2,314,988        6,493,056        1,312,199        1,002,789         505 Communications 141,517           1,217,600        296,704           438,221           1,355,485        276,272           161,949            512 Insurance, Healthcare 6,655,137        13,566,817      3,294,481        9,949,618        13,733,558      2,770,266        7,179,352         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        699,622           18,887,882      1,452,289        285,768           18,602,114       FIDUCIARY FUNDS: 8,371,183        290,000           610,111           8,981,294        200,475           168,751           8,812,543         611 Firemens' Pension 8,371,183        290,000           5,883               8,377,066        200,475           62,479             8,314,587         630 Custodial Fund ‐                        ‐                       604,228           604,228            ‐                       106,272           497,956            TOTAL FUNDS 310,616,527    355,113,172    69,246,925      379,863,452    461,129,383    59,197,416      320,666,036