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HomeMy WebLinkAboutMONTH 2022 01Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through January 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 6,145,428$          Licenses and permits 747,241               Grants / intergovernmental 380,841               Charges for services 314,128               Fines and penalties 209,767               Miscellaneous 291,592               Sale of general fixed assets 2,000                    Investment Earnings 19,392                  Insurance recoveries 458                       TOTAL REVENUES 8,110,847            EXPENDITURES: Personnel 5,140,708            Supplies 54,115                  Contracted Services 976,421               Capital Outlay ‐                             Internal Services ‐                             TOTAL EXPENDITURES 6,171,244            Transfers In ‐                             Transfers Out ‐                             NET TRANSFERS ‐                             CHANGE IN FUND BALANCE 1,939,603            BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment ‐                             BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,102,662          ENDING FUND BALANCE, Jan 31 71,042,265$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 23,710,086          AVAILABLE FUND BALANCE, Jan 31 44,832,179$       Monthly Financial Report January 2022  Monthly Financial Report                                                               City of Renton, Washington January 2022  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 ‐$                             Investment Earnings 1,220                      TOTAL REVENUES 1,220                      EXPENDITURES: Principal ‐                               Interest 24,231                    TOTAL EXPENDITURES 24,231                    Transfers In ‐                               NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (23,011)                  BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Jan 31 5,195,114$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,477,539$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure 110 127 130 135 140 141 REVENUES: Taxes 24,157$                 ‐$                            318,667$               ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              16,597                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              676                         Contributions (0)                             ‐                               ‐                               ‐                              (0)                             ‐                               Investment Earnings 178                        173                        742                        55                           149                        41                            Sale of Fixed Assets ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL REVENUES 24,335                   16,770                   319,409                55                           149                        717                         EXPENDITURES: Personnel ‐                               ‐                               ‐                              806                         ‐                               ‐                               Supplies ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               Contracted Services 9,731                      ‐                               ‐                               ‐                              465                         ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL EXPENDITURES 9,731                      ‐                               ‐                              806                        465                         ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 14,604                   16,770                   319,409                (751)                       (316)                       717                         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, Jan 31 743,025$              748,015$              3,491,138$           233,574$              631,209$              175,543$               Monthly Financial Report                                                               City of Renton, Washington January 2022  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 School District  Impact  Mitigation REET 1REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                         ‐$                        202,726$          202,726$           ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          150,303             ‐                           ‐                           Charges for services 2,915                 9,746                 804,051            7,396                  ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 803                    458                    1,206                 6                         1,054                 2,051                 3,951                 2,717                  ‐                          1,927                  TOTAL REVENUES 3,718                 10,204               805,257            7,402                 203,780            204,777            3,951                 153,020             ‐                          1,927                  EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          13,520                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          3,894                  Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          25,702                ‐                          10,128                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                           ‐                          13,520               25,702                ‐                          14,022                Transfers In ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 3,718                 10,204               805,257            7,402                 203,780            204,777            (9,569)                127,318             ‐                          (12,095)              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, Jan 31 3,437,111$       1,970,937$       5,964,292$       7,414$               4,711,897$       8,977,922$       16,815,214$    10,996,171$     ‐$                        8,226,840$        Monthly Financial Report                                                               City of Renton, Washington January 2022  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 ‐$                        ‐$                        ‐$                        ‐$                        5,625$                ‐$                       2,250$                Grants / intergovernmental 2,862                 ‐                          ‐                          ‐                           ‐                            ‐                         145,361              Charges for services 282,511           1,218,876        115,720           1,350,484         981,033             1,571,919        1,188,423           Fines and penalties ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         8,748                12,013                ‐                            ‐                          ‐                            Interest and other misc 1,827                875                   499                   14,989               32,377               1,236                9,377                   TOTAL REVENUES 306,337           1,219,751        124,967           1,377,486         1,019,035          1,573,155        1,345,411           EXPENSES: Personnel 101,687           45,831              138,329           340,582             193,619              ‐                         308,061              Supplies 382                   2,698                2,013                46,868               4,397                   ‐                         5,442                   Contracted Services 29,389              608,998           14,463              195,009             156,563              ‐                         76,734                Internal Services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            TOTAL OPERATING EXPENSES 131,458           657,527           154,805           582,459             354,579              ‐                         390,237              CAPITAL, AND TRANSFERS 174,879           562,224           (29,838)            795,027             664,456             1,573,155        955,174              DEBT SERVICE: Principal ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY ‐                          ‐                          ‐                         7,548                 22,408                ‐                         26,312                Transfers In ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 174,879           562,224           (29,838)            787,479             642,048             1,573,155        928,862              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, Jan 31 7,916,630$      3,954,467$      1,193,059$      44,637,346$     21,430,735$     5,337,167$      22,611,620$      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 7,691,082$      3,554,467$      533,317$         41,801,461$     19,393,375$     4,957,167$      20,875,452$      Monthly Financial Report                                                               City of Renton, Washington January 2022  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 ‐$                            ‐$                           14,890$                 ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Charges for services: Equipment rental m&o 26,457                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Facilities ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Interest and other misc 2,391                    4,810                    934                        216                        40                          1,557                    4,256                     Internal service fund misc: Vehicle / equipment capital recovery ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             122,936                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             1,073,050             ‐                              Other misc ‐                              ‐                              ‐                             27                           ‐                              ‐                              ‐                              Disposal of capital assets ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             2,741                     ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 28,848                  130,487                15,824                  243                        40                          1,074,607            4,256                     EXPENSES: Personnel 91,177                  79,240                  261,117                274,250                61,405                  968,363                78,395                   Supplies 25,359                   ‐                             36,670                  16,085                  370                         ‐                              ‐                              Contracted Services 7,657                    627,725                72,011                  36,458                  17,490                  51,519                  5,979                     Internal Services ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL OPERATING EXPENSES 124,193                706,965                369,798                326,793                79,265                  1,019,882            84,374                   AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (95,345)                 (576,478)              (353,974)              (326,550)              (79,225)                 54,725                  (80,118)                  TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY ‐                              ‐                             6,103                     ‐                              ‐                              ‐                              ‐                              Transfers In ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE (95,345)                 (576,478)              (360,077)              (326,550)              (79,225)                 54,725                  (80,118)                  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, Jan 31 10,029,824$        19,918,060$        3,293,378$          458,639$             62,292$                6,709,862$          18,108,142$         Insurance Reserves ‐                             17,466,112           ‐                              ‐                              ‐                             4,105,029            18,108,142           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 10,029,824$        2,451,948$          3,293,378$          458,639$             62,292$                2,604,833$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington January 2022  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: Intergovernmental ‐$                             ‐$                             Investment Earnings 1,817                      ‐                               Collected for Others ‐                              161,082                 TOTAL REVENUES 1,817                     161,082                 EXPENDITURES: Distributions to Others 58,713                   5,170                      TOTAL EXPENDITURES 20,826                   5,170                      NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE (19,009)                 155,912                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Jan 31 8,352,174$           155,912$               Monthly Financial Report                                                               City of Renton, Washington January 2022  Page 7 of 7             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 Misty Baker at  mbaker@rentonwa.gov, , Nate Malone nmalone@rentonwa.gov or Kari Roller at kroller@rentonwa.gov.  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through January 31, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  01/31/22 Total Funds  Available Budgeted  Expenditure Expenditure  01/31/22 Ending Balance GENERAL FUND 69,102,662      107,241,476    8,110,847        77,213,509      115,550,935    6,171,244        71,042,265       SPECIAL REVENUE FUNDS: 5,672,071        3,037,674        361,435           6,033,506        817,674           11,002             6,022,504         110 Hotel Motel 728,421           200,000           24,335             752,756            ‐                       9,731               743,025            127 Cable Communication 731,245           97,674             16,770             748,015           97,674              ‐                       748,015            130 Housing and Supportive Services 3,171,729        2,740,000        319,409           3,491,138        680,000            ‐                       3,491,138         135 Springbrook Wetlands Bank 234,325            ‐                       55                    234,380           40,000             806                  233,574            140 Police Seizure 631,525            ‐                       149                  631,674            ‐                       465                  631,209            141 Police CSAM Seizure 174,826            ‐                       717                  175,543            ‐                        ‐                       175,543            DEBT SERVICE FUND 5,218,125        4,533,969        1,220               5,219,345        4,341,920        24,231             5,195,114         CAPITAL PROJECT FUNDS (CIP): 59,767,006      10,643,340      1,394,036        61,161,042      9,971,092        53,244             61,107,798       303 Community Services Mitigation 3,433,393        86,500             3,718               3,437,111         ‐                        ‐                       3,437,111         304 Fire Mitigation 1,960,733        99,000             10,204             1,970,937        500,634            ‐                       1,970,937         305 Transportation Mitigation 5,159,035        200,000           805,257           5,964,292        200,000            ‐                       5,964,292         308 REET1 4,508,117        2,300,000        203,780           4,711,897        2,315,000         ‐                       4,711,897         309 REET2 8,773,145        2,300,000        204,777           8,977,922        2,750,625         ‐                       8,977,922         31X School District Impact Mitigation 12                    995,000           7,402               7,414               995,000            ‐                       7,414                316 Municipal Facilities CIP 16,824,783      2,462,840        3,951               16,828,734      2,626,833        13,520             16,815,214       317 Transportation CIP 10,868,853      2,200,000        153,020           11,021,873      583,000           25,702             10,996,171       336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935         ‐                       1,927               8,240,862         ‐                       14,022             8,226,840         ENTERPRISE FUNDS: 102,442,215    90,961,830      6,966,142        109,408,357    93,981,884      2,327,333        107,081,024     4X2 Airport Operating & CIP 7,741,751        3,051,767        306,337           8,048,088        2,932,475        131,458           7,916,630         403 Solid Waste Utility 3,392,243        23,108,703      1,219,751        4,611,994        23,362,023      657,527           3,954,467         4X4 Golf Operating & CIP 1,222,897        2,984,655        124,967           1,347,864        2,757,386        154,805           1,193,059         4X5 Water Operating & CIP 43,849,867      19,107,026      1,377,486        45,227,353      17,494,473      590,007           44,637,346       4X6 Waste Water Operating & CIP 20,788,687      12,178,313      1,019,035        21,807,722      13,137,281      376,987           21,430,735       416 King County Metro 3,764,012        17,695,877      1,573,155        5,337,167        17,695,877       ‐                       5,337,167         4X7 Surface Water Operating & CIP 21,682,758      12,835,489      1,345,411        23,028,169      16,602,369      416,549           22,611,620       INTERNAL SERVICE FUNDS: 60,043,265      40,364,458      1,254,305        61,297,570      38,229,536      2,717,373        58,580,197       501 Equipment Repair/Replacement 10,125,169      6,365,614        28,848             10,154,017      4,370,604        124,193           10,029,824       502 Insurance 20,494,538      3,561,243        130,487           20,625,025      4,203,617        706,965           19,918,060       503 Information Services 3,653,455        6,789,647        15,824             3,669,279        6,918,771        375,901           3,293,378         504 Facilities 785,189           6,183,470        243                  785,432           6,358,106        326,793           458,639            505 Communications 141,517           1,187,600        40                    141,557           1,250,582        79,265             62,292              512 Insurance, Healthcare 6,655,137        13,566,817      1,074,607        7,729,744        13,683,431      1,019,882        6,709,862         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        4,256               18,192,516      1,444,425        84,374             18,108,142       FIDUCIARY FUNDS: 8,371,183        290,000           162,899           8,534,082        200,475           25,996             8,508,086         611 Firemens' Pension 8,371,183        290,000           1,817               8,373,000        200,475           20,826             8,352,174         630 Custodial Fund ‐                        ‐                       161,082           161,082            ‐                       5,170               155,912            TOTAL FUNDS 310,616,527    257,072,747    18,250,884      328,867,411    263,093,516    11,330,423      317,536,988