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HomeMy WebLinkAboutMONTH 2022 06Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through June 30, 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 50,349,747$       Licenses and permits 4,277,047            Grants / intergovernmental 2,375,706            Charges for services 5,231,840            Fines and penalties 2,397,604            Miscellaneous 1,186,990            Sale of general fixed assets 2,000                    Investment Earnings 190,537               Insurance recoveries 10,386                  TOTAL REVENUES 66,021,857          EXPENDITURES: Personnel 32,191,000          Supplies 796,599               Contracted Services 9,673,758            Capital Outlay 14,258                  Internal Services 10,251,139          TOTAL EXPENDITURES 53,152,063          Transfers In 14,187                  Transfers Out 5,781,573            NET TRANSFERS (5,767,386)           CHANGE IN FUND BALANCE 7,102,408            BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 15,405                  BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,118,067          ENDING FUND BALANCE, Jun 30 76,220,475$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 11,226,491          AVAILABLE FUND BALANCE, Jun 30 62,493,984$       Monthly Financial Report June 2022  Monthly Financial Report                                                               City of Renton, Washington June 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 44,705$                 Investment Earnings 11,440                    TOTAL REVENUES 56,145                    EXPENDITURES: Principal 195,873                 Interest 635,337                 TOTAL EXPENDITURES 831,210                 Transfers In 611,550                 NET TRANSFERS 611,550                 CHANGE IN FUND BALANCE (163,515)                BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Jun 30 5,054,610$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,337,035$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Fire Impact  Mitigation School District  Impact Mitigation Police Seizure Police CSAM  Seizure REVENUES: Taxes 195,700$               ‐$                            2,086,418$            ‐$                             ‐$                         ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              32,672                    ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Grants / intergovernmental ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                              1,138,401         3,927,689              ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                              1                          ‐                               ‐                              2,295                      Contributions 10,000                    ‐                               ‐                               ‐                               ‐                           ‐                              31,007                    ‐                               Investment Earnings 1,691                     1,536                     7,641                     633                        4,601                 547                        1,085                     380                         Sale of Fixed Assets ‐                               ‐                               ‐                              230,300                 ‐                           ‐                               ‐                               ‐                               TOTAL REVENUES 207,391                34,208                   2,094,059             230,933                1,143,003         3,928,236             32,092                   2,675                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              2,853                      ‐                           ‐                               ‐                               ‐                               Supplies ‐                              119,436                 ‐                               ‐                               ‐                           ‐                              41,304                    ‐                               Contracted Services 127,729                35,004                   1,500,000             388                         ‐                          228,490                91,046                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                               ‐                           ‐                              150,104                18,311                    TOTAL EXPENDITURES 127,729                154,440                1,500,000             3,241                      ‐                          228,490                282,454                18,311                    ‐                           Transfers In ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               CHANGE IN FUND BALANCE 79,662                   (120,232)               594,059                227,692                1,143,003         3,699,746             (250,362)               (15,636)                  BEGINNING FUND BALANCE, Jan 1 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 Prior Period Adjustment ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 ENDING FUND BALANCE, Jun 30 808,083$              611,013$              3,765,788$           462,017$              3,103,736$       3,699,758$           381,163$              159,190$               Monthly Financial Report                                                               City of Renton, Washington June 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 Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                        2,023,312$       2,023,312$        ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          181,008            5,885,412         1,455,000          Charges for services 1,380,786         6,971,036          ‐                           ‐                          4,700                  ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          (85)                      ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          4,692,222          Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 7,637                 15,962               11,463               20,666               37,276               21,050               19,004                TOTAL REVENUES 1,388,423         6,986,998         2,034,775         2,043,978         222,984            5,906,377         6,166,226          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          211,798            49,260                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          44,451                ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          84,263               35,941               33,148                Capital Outlay ‐                           ‐                           ‐                           ‐                          1,554,876         7,848,262         4,462,265          TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,850,937         7,977,914         4,495,413          Transfers In ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                          44,301                Transfers Out ‐                           ‐                           ‐                           ‐                          44,301                ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          2,955,699          ‐                          44,301                CHANGE IN FUND BALANCE 1,388,423         6,986,998         2,034,775         2,043,978         1,327,746         (2,071,537)        1,715,114          BEGINNING FUND BALANCE, Jan 1 3,433,393         5,159,035         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         5,159,035         4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          ENDING FUND BALANCE, Jun 30 4,821,816$       12,146,033$    6,542,892$       10,817,123$    18,152,529$    8,797,316$       9,954,049$        Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                        ‐$                        ‐$                        ‐$                        48,320$              ‐$                       14,334$              Grants / intergovernmental 5,334                34,783               ‐                          ‐                           ‐                            ‐                         1,014,980           Charges for services 1,723,795        12,508,759      1,344,666        7,913,550         5,768,817          9,292,307        6,411,996           Interdepartmental services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Fines and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         182,696           124,511              ‐                            ‐                          ‐                            Interest and other misc 17,611              10,308              229,000           1,047,419         572,548             11,579              1,113,176           TOTAL REVENUES 1,765,877        12,553,850      1,756,362        9,085,480         6,389,741          9,303,886        8,554,486           EXPENSES: Personnel 541,129           278,368           793,487           2,141,271         1,176,973           ‐                         1,940,384           Supplies 46,805              6,816                179,303           496,992             20,998                ‐                         44,980                Contracted Services 273,508           10,786,842      65,447              1,516,061         1,143,396          7,637,611        888,921              Internal Services 224,498           182,197           230,330           1,385,442         976,070              ‐                         1,434,739           TOTAL OPERATING EXPENSES 1,085,940        11,254,223      1,268,567        5,539,766         3,317,437          7,637,611        4,309,024           CAPITAL, AND TRANSFERS 679,937           1,299,627        487,795           3,545,714         3,072,304          1,666,275        4,245,462           DEBT SERVICE: Principal ‐                          ‐                         14,673              315,517              ‐                            ‐                          ‐                            Interest ‐                          ‐                         733                   90,937               39,597                ‐                         48,088                TOTAL DEBT SERVICE ‐                          ‐                         15,406              406,454             39,597                ‐                         48,088                CAPITAL OUTLAY 120,297            ‐                         241,476           1,981,569         1,853,942           ‐                         2,115,057           Transfers In ‐                          ‐                         118,050            ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                         118,050            ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 559,640           1,299,627        230,913           1,157,691         1,178,765          1,666,275        2,082,317           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, Jun 30 8,301,391$      4,691,870$      1,453,810$      45,007,558$     21,967,452$     5,430,287$      23,765,075$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,051         661,227              ‐                    754,868              Operating Reserve 241,858           400,000           746,233           1,705,874         960,757             380,000           1,190,692           AVAILABLE FUND BALANCE 8,059,533$      4,291,870$      707,577$         41,907,633$     20,345,468$     5,050,287$      21,819,515$      Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                            ‐$                           147,679$              ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 1,570,203             ‐                             4,564,374             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             238,304                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             448,282                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             3,246,827             ‐                              ‐                              ‐                              Interest and other misc 22,684                  44,024                  8,082                    937                        123                        15,120                  39,575                   Internal service fund misc: Vehicle / equipment capital recovery 1,660,996             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,231,513             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             749,159                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             6,333,547            1,312,342             Other misc 1,115                    104,843                319                        54,331                   ‐                             164,388                57,133                   Disposal of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             26,922                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,277,428            2,156,461            4,720,454            3,302,095            686,709                6,513,055            1,409,050             EXPENSES: Personnel 555,289                450,138                1,552,275            1,759,235            411,930                5,492,949            605,071                 Supplies 879,841                 ‐                             898,317                404,370                19,918                  660                         ‐                              Contracted Services 159,638                1,043,512            1,319,839            648,329                137,967                242,664                28,685                   Internal Services 15,384                   ‐                              ‐                             65,980                  1,017                    46,835                   ‐                              TOTAL OPERATING EXPENSES 1,610,152            1,493,650            3,770,431            2,877,914            570,832                5,783,108            633,756                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,667,276            662,811                950,023                424,181                115,877                729,947                775,294                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY (1,111)                    ‐                             105,072                4,103                     ‐                              ‐                              ‐                              Transfers In ‐                             152,772                2,003,064             ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             152,772                2,003,064             ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 1,668,387            815,583                2,848,015            420,078                115,877                729,947                775,294                 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, Jun 30 11,793,556$        21,310,121$        6,501,470$          1,205,267$          257,394$             7,385,084$          18,963,554$         Insurance Reserves ‐                             20,439,736           ‐                              ‐                              ‐                             4,123,049            18,963,554           Opearting Reserves 9,528,855             ‐                             2,068,477             ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 2,264,701$          870,385$             4,432,993$          1,205,267$          257,394$             3,262,035$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington June 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 182,841$               ‐$                             Investment Earnings 16,738                    ‐                               Collected for Others ‐                              1,410,626              TOTAL REVENUES 199,579                1,410,626              EXPENDITURES: Distributions to Others 148,718                565,313                 TOTAL EXPENDITURES 114,331                565,313                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 85,248                   845,313                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Jun 30 8,456,431$           845,313$               Monthly Financial Report                                                               City of Renton, Washington June 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 Nate Malone  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through June 30, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  06/30/22 Total Funds  Available Budgeted  Expenditure Expenditure  06/30/22 Ending Balance GENERAL FUND 69,102,662      129,187,507    66,051,449      135,154,111    140,345,324    58,933,636      76,220,475       SPECIAL REVENUE FUNDS: 7,632,816        4,861,674        7,672,597        15,305,413      5,018,401        2,314,665        12,990,748       110 Hotel Motel 728,421           220,000           207,391           935,812           528,207           127,729           808,083            127 Cable Communication 731,245           57,674             34,208             765,453           427,209           154,440           611,013            130 Housing and Supportive Services 3,171,729        3,490,000        2,094,059        5,265,788        1,710,000        1,500,000        3,765,788         135 Springbrook Wetlands Bank 234,325            ‐                       230,933           465,258           51,000             3,241               462,017            140 Police Seizure 631,525            ‐                       32,092             663,617           631,525           282,454           381,163            141 Police CSAM Seizure 174,826            ‐                       2,675               177,501           174,826           18,311             159,190            31X School District Impact Mitigation 12                    995,000           3,928,236        3,928,248        995,000           228,490           3,699,758         304 Fire Mitigation 1,960,733        99,000             1,143,003        3,103,736        500,634            ‐                       3,103,736         DEBT SERVICE FUND 5,218,125        4,533,969        667,695           5,885,820        4,341,920        831,210           5,054,610         CAPITAL PROJECT FUNDS (CIP): 57,806,261      76,470,659      27,794,062      85,600,323      120,656,684    14,368,565      71,231,758       303 Community Services Mitigation 3,433,393        86,500             1,388,423        4,821,816        3,380,595         ‐                       4,821,816         305 Transportation Mitigation 5,159,035        200,000           6,986,998        12,146,033      3,200,000         ‐                       12,146,033       308 REET1 4,508,117        2,300,000        2,034,775        6,542,892        5,579,996         ‐                       6,542,892         309 REET2 8,773,145        2,300,000        2,043,978        10,817,123      6,921,118         ‐                       10,817,123       316 Municipal Facilities CIP 16,824,783      16,718,087      3,222,984        20,047,767      33,540,353      1,895,238        18,152,529       317 Transportation CIP 10,868,853      42,407,072      5,906,377        16,775,230      50,756,364      7,977,914        8,797,316         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      6,210,527        14,449,462      17,278,258      4,495,413        9,954,049         ENTERPRISE FUNDS: 102,442,215    112,854,744    49,527,732      151,969,947    169,256,663    41,352,504      110,617,443     4X2 Airport Operating & CIP 7,741,751        3,281,007        1,765,877        9,507,628        9,243,159        1,206,237        8,301,391         403 Solid Waste Utility 3,392,243        24,133,272      12,553,850      15,946,093      24,924,161      11,254,223      4,691,870         4X4 Golf Operating & CIP 1,222,897        3,428,832        1,874,412        3,097,309        3,655,054        1,643,499        1,453,810         4X5 Water Operating & CIP 43,849,867      19,107,026      9,085,480        52,935,347      49,577,439      7,927,789        45,007,558       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      6,389,741        27,178,428      25,857,830      5,210,976        21,967,452       416 King County Metro 3,764,012        18,495,877      9,303,886        13,067,898      18,495,877      7,637,611        5,430,287         4X7 Surface Water Operating & CIP 21,682,758      32,182,017      8,554,486        30,237,244      37,503,143      6,472,169        23,765,075       INTERNAL SERVICE FUNDS: 60,043,265      47,195,487      24,221,088      84,264,353      47,088,138      16,847,907      67,416,446       501 Equipment Repair/Replacement 10,125,169      6,389,905        3,277,428        13,402,597      6,986,219        1,609,041        11,793,556       502 Insurance 20,494,538      4,409,425        2,309,233        22,803,771      4,387,888        1,493,650        21,310,121       503 Information Services 3,653,455        12,077,068      6,723,518        10,376,973      12,666,705      3,875,503        6,501,470         504 Facilities 785,189           6,664,670        3,302,095        4,087,284        6,493,056        2,882,017        1,205,267         505 Communications 141,517           1,377,535        686,709           828,226           1,358,485        570,832           257,394            512 Insurance, Healthcare 6,655,137        13,566,817      6,513,055        13,168,192      13,743,496      5,783,108        7,385,084         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        1,409,050        19,597,310      1,452,289        633,756           18,963,554       FIDUCIARY FUNDS: 8,371,183        290,000           1,610,205        9,981,388        200,475           679,644           9,301,744         611 Firemens' Pension 8,371,183        290,000           199,579           8,570,762        200,475           114,331           8,456,431         630 Custodial Fund ‐                        ‐                       1,410,626        1,410,626         ‐                       565,313           845,313            TOTAL FUNDS 310,616,527    375,394,040    177,544,828    488,161,355    486,907,605    135,328,131    352,833,224