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HomeMy WebLinkAboutMONTH 2022 09Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through September  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 72,629,731$       Licenses  and permits 5,875,790            Grants  / intergovernmental 16,178,668          Charges  for services 8,532,959            Fines  and penalties 3,164,078            Miscellaneous 1,362,889            Sale of general  fixed assets 2,000                    Investment Earnings 479,967               Insurance recoveries 102,850               TOTAL  REVENUES 108,328,932       EXPENDITURES: Personnel 50,650,624          Supplies 1,300,730            Contracted Services 14,684,226          Principal 225,309               Capital  Outlay 116,926               Internal Services 15,359,861          TOTAL  EXPENDITURES 82,337,676          Transfers  In 14,187                  Transfers  Out (5,812,895)           NET TRANSFERS (5,798,708)           CHANGE IN  FUND BALANCE 20,192,548          BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 375,831               BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,478,493          ENDING FUND BALANCE, Sep 30 89,671,041$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 11,537,583          AVAILABLE FUND BALANCE, Sep 30 75,633,458$       Monthly Financial Report September 2022  Monthly Financial Report                                                               City of Renton, Washington September 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.         General  Governmental  Misc Debt REVENUES: Grants  / intergovernmental 44,705$                 Investment Earnings 25,561                    TOTAL  REVENUES 70,266                    EXPENDITURES: Principal 609,547                 Interest 712,308                 TOTAL  EXPENDITURES 1,321,855              Transfers  In 611,550                 NET TRANSFERS 611,550                 CHANGE IN  FUND BALANCE (640,039)                BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Sep 30 4,578,086$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 1,860,511$            Monthly Financial Report                                                               City of Renton, Washington September 2022  Page 3 of 7   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.       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.      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 355,770$               ‐$                            3,197,777$            ‐$                             ‐$                         ‐$                             ‐$                             ‐$                             Licenses  and permits ‐                              48,049                    ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Charges  for services ‐                               ‐                               ‐                               ‐                              1,177,556         4,003,911              ‐                               ‐                               Fines  and penalties ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                              7,882                      Contributions 20,000                    ‐                               ‐                               ‐                               ‐                           ‐                              125,480                 ‐                               Investment Earnings 4,190                     3,244                     19,949                   1,985                     13,794               3,670                     2,412                     856                         Sale of Fixed Assets ‐                               ‐                               ‐                              230,300                 ‐                           ‐                               ‐                               ‐                               TOTAL  REVENUES 379,960                51,293                   3,217,726             232,285                1,191,350         4,007,581             127,892                8,738                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              4,805                      ‐                           ‐                               ‐                               ‐                               Supplies ‐                              262,791                 ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Contracted Services 186,088                57,558                   1,502,339             4,400                      ‐                          3,959,023              ‐                              44                            Capital  Outlay ‐                               ‐                               ‐                               ‐                               ‐                           ‐                              139,791                18,311                    TOTAL  EXPENDITURES 186,088                320,349                1,502,339             9,205                      ‐                          3,959,023             139,791                18,355                    ‐                           Transfers  In ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               Transfers  Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               CHANGE IN  FUND BALANCE 193,872                (269,056)               1,715,387             223,080                1,191,350         48,558                   (11,899)                 (9,617)                     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, Sep 30 922,293$              462,189$              4,887,116$           457,405$              3,152,083$       48,570$                619,626$              165,209$               CS Impact Mitigation Transportation  Impact   Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                        2,885,167$       2,885,167$        ‐$                         ‐$                         ‐$                         Grants  / intergovernmental ‐                           ‐                           ‐                           ‐                          289,129            8,511,681         1,510,000          Charges for services 1,446,411         8,213,867          ‐                           ‐                          4,700                  ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          (107)                    ‐                           Contributions ‐                           ‐                           ‐                           ‐                          842,154             ‐                          5,017,222          Sale of general  fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 21,909               53,107               31,446               53,260               90,864               46,418               45,804                TOTAL  REVENUES 1,468,320         8,266,974         2,916,613         2,938,427         1,226,847         8,557,992         6,573,026          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          323,093            78,172                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          90,430                ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          137,360            103,288            39,961                Capital  Outlay ‐                           ‐                           ‐                           ‐                          2,961,627         11,098,063       7,446,695          TOTAL  EXPENDITURES ‐                           ‐                           ‐                           ‐                          3,422,080         11,369,953       7,486,656          Transfers  In ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                          56,518                Transfers  Out ‐                           ‐                           ‐                           ‐                          (56,518)              ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          2,943,482          ‐                          56,518                CHANGE IN  FUND BALANCE 1,468,320         8,266,974         2,916,613         2,938,427         748,249            (2,811,961)        (857,112)            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, Sep 30 4,901,713$       13,426,009$    7,424,730$       11,711,572$    17,573,032$    8,056,892$       7,381,823$        Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                        ‐$                        ‐$                        ‐$                        65,195$              ‐$                       24,084$              Grants  / intergovernmental 57,529              34,783               ‐                          ‐                           ‐                            ‐                         1,114,140           Charges  for services 2,525,290        16,761,892      2,263,344        13,725,327       8,772,943          14,594,549      9,480,563           Interdepartmental  services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Fines  and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc  fees 19,137               ‐                         404,306           183,986              ‐                            ‐                          ‐                            Interest and other misc 110,770           21,283              (112,734)          1,197,186         683,566             28,257              1,498,101           TOTAL  REVENUES 2,712,726        16,817,958      2,554,916        15,106,499       9,521,760          14,622,806      12,116,888        EXPENSES: Personnel 822,159           349,917           1,254,141        3,298,960         1,770,350           ‐                         2,860,523           Supplies 61,068              7,471                294,364           802,561             43,729                ‐                         61,831                Contracted Services 542,889           15,712,560      103,514           2,482,694         1,746,378          12,272,929      1,403,921           Internal Services 341,856           293,728           345,495           2,107,536         1,483,261           ‐                         2,171,265           TOTAL  OPERATING EXPENSES 1,767,972        16,363,676      1,997,514        8,691,751         5,043,718          12,272,929      6,497,540           CAPITAL, AND TRANSFERS 944,754           454,282           557,402           6,414,748         4,478,042          2,349,877        5,619,348           DEBT SERVICE: Principal ‐                          ‐                         25,709              315,517              ‐                            ‐                          ‐                            Interest ‐                          ‐                         1,250                91,087               39,657                ‐                         48,178                TOTAL  DEBT SERVICE ‐                          ‐                         26,959              406,604             39,657                ‐                         48,178                CAPITAL OUTLAY 130,327            ‐                         386,621           2,465,513         2,831,892           ‐                         3,092,113           Transfers  In ‐                          ‐                         186,100            ‐                           ‐                            ‐                          ‐                            Transfers  Out ‐                          ‐                         (186,100)          (6,270)                (1,027)                 ‐                         (3,975)                 NET TRANSFERS ‐                          ‐                          ‐                         (6,270)                (1,027)                 ‐                         (3,975)                 CHANGE IN  FUND BALANCE 814,427           454,282           143,822           3,536,361         1,605,466          2,349,877        2,475,082           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, Sep 30 8,556,178$      3,846,525$      1,366,719$      47,386,228$     22,394,153$     6,113,889$      24,157,840$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 241,390           400,000           746,233           1,712,156         962,039             380,000           1,204,613           AVAILABLE FUND BALANCE 8,314,788$      3,446,525$      620,486$         44,280,022$     20,770,887$     5,733,889$      22,198,359$      Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                            ‐$                           202,395$              ‐$                            ‐$                            ‐$                            ‐$                            Grants  / intergovernmental ‐                              ‐                              ‐                              ‐                             3,000                     ‐                             38,624                   Charges  for services: Equipment rental m&o 2,373,993             ‐                             6,846,561             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             357,456                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             672,514                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             4,870,241             ‐                              ‐                              ‐                              IT service contracts ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Interest and other misc 56,544                  104,410                25,851                  2,883                    545                        37,648                  95,246                   Internal service fund misc: Vehicle / equipment capital recovery 2,491,493             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,847,270             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,171,803             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             9,452,305            1,968,513             Other misc 2,320                    104,843                319                        78,199                   ‐                             358,690                111,929                 Disposal  of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             40,077                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL  REVENUES 4,946,780            3,268,403            7,075,126            4,951,323            1,033,515            9,848,643            2,214,312             EXPENSES: Personnel 823,933                790,794                2,365,136            2,637,501            601,738                8,173,356            941,199                 Supplies 1,235,208            46                          985,050                697,002                34,499                  2,145                     ‐                              Contracted Services 271,255                2,517,552            1,990,920            1,109,607            211,363                367,211                39,853                   Internal Services 35,724                   ‐                              ‐                             109,581                1,526                    70,252                   ‐                              TOTAL  OPERATING EXPENSES 2,366,120            3,308,392            5,341,106            4,553,691            849,126                8,612,964            981,052                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 2,580,660            (39,989)                 1,734,020            397,632                184,389                1,235,679            1,233,260             TOTAL  DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 385,294                 ‐                             109,894                15,149                   ‐                              ‐                              ‐                              Transfers  In ‐                             152,772                2,086,034            11,045                   ‐                              ‐                              ‐                              Transfers  Out ‐                             (51,420)                  ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             101,352                2,086,034            11,045                   ‐                              ‐                              ‐                              CHANGE IN  FUND BALANCE 2,195,366            61,363                  3,710,160            393,528                184,389                1,235,679            1,233,260             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, Sep 30 12,320,535$        20,555,901$        7,363,615$          1,178,717$          325,906$             7,890,816$          19,421,520$         Insurance Reserves ‐                             20,555,901           ‐                              ‐                              ‐                             4,123,049            19,421,520           Opearting Reserves 9,305,868             ‐                             2,068,477             ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 3,014,667$           ‐$                           5,295,138$          1,178,717$          325,906$             3,767,767$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington September 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 39,855                    ‐                               Collected for Others ‐                              1,908,554              TOTAL  REVENUES 222,696                1,908,554              EXPENDITURES: Distributions  to Others 204,699                1,054,361              TOTAL  EXPENDITURES 170,312                1,054,361              NET TRANSFERS ‐                               ‐                               CHANGE IN  FUND BALANCE 52,384                   854,193                 BEGINNING FUND BALANCE, Jan 1  8,371,183              ‐                               ENDING FUND BALANCE, Sep 30 8,423,567$           854,193$               Monthly Financial Report                                                               City of Renton, Washington September 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 September 30, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  09/30/22 Total Funds   Available Budgeted  Expenditure Expenditure  09/30/22 Ending Balance GENERAL FUND 69,102,662      138,107,723    108,718,950    177,821,612    144,233,971    88,150,571      89,671,041       SPECIAL REVENUE FUNDS: 7,632,816        9,897,979        9,216,825        16,849,641      8,741,401        6,135,150        10,714,491       110 Hotel  Motel 728,421           225,000           379,960           1,108,381        618,207           186,088           922,293            127 Cable  Communication 731,245           57,674             51,293             782,538           460,209           320,349           462,189            130 Housing and Supportive Services 3,171,729        3,490,000        3,217,726        6,389,455        1,710,000        1,502,339        4,887,116         135 Springbrook Wetlands  Bank 234,325           231,305           232,285           466,610           51,000             9,205               457,405            140 Police  Seizure 631,525            ‐                       127,892           759,417           631,525           139,791           619,626            141 Police  CSAM Seizure 174,826            ‐                       8,738               183,564           174,826           18,355             165,209            31X School  District Impact Mitigation 12                    4,595,000        4,007,581        4,007,593        4,595,000        3,959,023        48,570              304 Fire  Mitigation 1,960,733        1,299,000        1,191,350        3,152,083        500,634            ‐                       3,152,083         DEBT SERVICE FUND 5,218,125        4,533,969        681,816           5,899,941        4,341,920        1,321,855        4,578,086         CAPITAL PROJECT FUNDS (CIP): 57,806,261      101,217,561    35,004,717      92,810,978      141,358,340    22,335,207      70,475,771       303 Community Services  Mitigation 3,433,393        1,386,500        1,468,320        4,901,713        3,380,595         ‐                       4,901,713         305 Transportation Mitigation 5,159,035        8,044,696        8,266,974        13,426,009      6,851,255         ‐                       13,426,009       308 REET1 4,508,117        2,300,000        2,916,613        7,424,730        5,579,996         ‐                       7,424,730         309 REET2 8,773,145        2,300,000        2,938,427        11,711,572      6,921,118         ‐                       11,711,572       316 Municipal  Facilities CIP 16,824,783      20,848,957      4,226,847        21,051,630      37,665,866      3,478,598        17,573,032       317 Transportation CIP 10,868,853      53,494,765      8,557,992        19,426,845      63,181,252      11,369,953      8,056,892         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,842,643      6,629,544        14,868,479      17,778,258      7,486,656        7,381,823         ENTERPRISE FUNDS: 102,442,215    115,114,412    73,639,653      176,081,868    171,626,571    62,260,336      113,821,532     4X2 Airport Operating & CIP 7,741,751        3,456,518        2,712,726        10,454,477      9,388,477        1,898,299        8,556,178         403 Solid Waste  Utility 3,392,243        24,133,272      16,817,958      20,210,201      24,885,563      16,363,676      3,846,525         4X4 Golf Operating & CIP 1,222,897        3,428,832        2,741,016        3,963,913        3,655,054        2,597,194        1,366,719         4X5 Water Operating & CIP 43,849,867      20,933,613      15,106,499      58,956,366      51,456,362      11,570,138      47,386,228       4X6 Waste Water Operating & CIP 20,788,687      12,462,963      9,521,760        30,310,447      26,104,765      7,916,294        22,394,153       416 King  County Metro 3,764,012        18,495,877      14,622,806      18,386,818      18,495,877      12,272,929      6,113,889         4X7 Surface Water Operating & CIP 21,682,758      32,203,337      12,116,888      33,799,646      37,640,473      9,641,806        24,157,840       INTERNAL SERVICE FUNDS: 60,043,265      50,755,494      35,587,953      95,631,218      49,754,860      26,574,208      69,057,010       501 Equipment Repair/Replacement 10,125,169      6,445,116        4,946,780        15,071,949      7,264,417        2,751,414        12,320,535       502 Insurance 20,494,538      6,309,425        3,421,175        23,915,713      4,637,888        3,359,812        20,555,901       503 Information Services 3,653,455        13,669,859      9,161,160        12,814,615      14,413,705      5,451,000        7,363,615         504 Facilities 785,189           6,676,675        4,962,368        5,747,557        6,858,180        4,568,840        1,178,717         505 Communications 141,517           1,377,535        1,033,515        1,175,032        1,384,885        849,126           325,906            512 Insurance, Healthcare 6,655,137        13,566,817      9,848,643        16,503,780      13,743,496      8,612,964        7,890,816         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        2,214,312        20,402,572      1,452,289        981,052           19,421,520       FIDUCIARY FUNDS: 8,371,183        290,000           2,131,250        10,502,433      200,475           1,224,673        9,277,760         611 Firemens' Pension 8,371,183        290,000           222,696           8,593,879        200,475           170,312           8,423,567         630 Custodial  Fund ‐                        ‐                       1,908,554        1,908,554         ‐                       1,054,361        854,193            TOTAL FUNDS 310,616,527    419,917,138    264,981,164    575,597,691    520,257,538    208,002,000    367,595,691