The URL can be used to link to this page

Home My WebLink AboutQUARTER 3 2022Page 1 of 32 OVERVIEW This quarterly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through September 30, 2022. A detailed analysis, including current to prior year and budget to actual comparison is included for each City fund. Excluded from this report are the City’s fiduciary funds as these funds are held on behalf of others and are not available for City use. Budget figures shown reflect amounts authorized in ORD 6083, which includes the year end budget adjustment approved October 17, 2022. 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 YTD revenues and expenditures for the General Fund, including comparison to prior year, comparison to YTD budget amounts, and percentage of annual budget. YTD budget amounts are generally based on the collection/disbursement patterns for the same period of the preceding two (2) years, with the following exceptions: property tax revenue budgets are based on the collection patterns over the preceding four (4) years and sales tax revenue budgets are based on the collection patterns over the preceding five (5) years. General Fund YTD Prior Year YTD YTD Budget % BUDGET REVENUES Taxes 65,207,517$ 94,129,261$ 66,382,649$ 72,629,730$ 7,422,213$ 6,247,081$ 77.16% Licenses & Permits 4,202,954 6,322,163 4,889,418 5,875,790 1,672,836$ 986,372 92.94% Intergovernmental 4,954,831 22,216,539 7,015,704 16,178,667 11,223,836$ 9,162,963 72.82% Charges for Services 7,030,084 9,912,049 7,696,492 8,532,959 1,502,875$ 836,467 86.09% Fines and Penalties 3,432,097 3,829,782 2,877,180 3,164,078 (268,019)$ 286,898 82.62% Miscellaneous 1,174,987 2,042,296 1,503,279 1,842,858 667,871$ 339,579 90.23% Other Financing Sources (Transfer‐In, etc) 90,155 (344,366) (344,366) 494,868 404,713$ 839,234 N/A TOTAL REVENUES 86,092,625 138,107,724 90,020,356 108,718,950 22,626,325 18,698,594 78.72% EXPENDITURES City Attorney 1,796,760 3,179,689 2,360,149 2,115,050 (318,290) 245,099 66.52% Community and Economic Development 7,487,602 14,080,674 9,818,413 8,059,679 (572,077) 1,758,734 57.24% Council 377,276 715,534 534,102 509,786 (132,510) 24,316 71.25% Court Services 2,038,188 3,646,622 2,722,767 2,319,571 (281,383) 403,196 63.61% Equity, Housing, and Human Services 2,353,951 5,641,449 3,666,475 2,256,923 97,028 1,409,552 40.01% Executive Services 3,544,400 6,101,756 4,538,664 4,081,042 (536,641) 457,622 66.88% Finance 2,582,044 5,245,748 3,530,495 3,065,716 (483,672) 464,779 58.44% Human Resources 1,104,206 1,783,308 1,314,078 1,151,401 (47,194) 162,677 64.57% Parks and Recreation 9,895,942 17,633,847 12,471,781 11,051,443 (1,155,501) 1,420,338 62.67% Police 30,860,482 48,068,187 35,645,789 33,255,178 (2,394,692) 2,390,611 69.18% Public Works 9,996,605 15,890,351 11,766,030 11,296,208 (1,299,603) 469,822 71.09% Other Non‐Departmental 3,969,276 21,991,390 10,654,104 8,933,189 (4,963,913) 1,720,915 40.62% TOTAL EXPENDITURES 76,006,732 143,978,555 99,022,846 88,095,186 (12,088,448) 10,927,660 61.19% Change in Fund Balance 10,085,893 (5,870,831) (9,002,490) 20,623,764 10,537,871 29,626,254 N/A Beginning Fund Balance 54,456,582 69,102,662 69,102,662 69,102,662 14,646,080 ‐ 100.00% ENDING FUND BALANCE 64,542,475$ 63,231,831$ 60,100,172$ 89,726,426$ 25,183,951$ 29,626,254$ 141.90% Operating Reserve 13,994,674 11,537,583 11,537,583 11,537,583 Economic Development Reserve 2,500,000 2,500,000 2,500,000 2,500,000 AVAILABLE FUND BALANCE 48,047,801$ 49,194,248$ 46,062,589$ 75,688,843$ Favorable (Unfavorable) 2021 2022 Variance YTD Actual Annual Budget YTD Budget YTD Actual Summary of Sources and Uses Quarterly Financial Report 3rd Quarter 2022 Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 2 of 32 GENERAL FUND REVENUES The following tables provide a more detailed summary of each revenue category within the General Fund. Detailed explanations have been provided for variances from prior year or YTD budget in excess of $100K. All variances are shown in a favourable/(unfavourable) format. TAXES Property Tax – Property tax collections by King County are above prior year and YTD budget. The property tax levy was increased by a total of 1.75% from 2021. The 2022 property tax levy, after levy changes by the assessor’s office, totalled $23.3 M. The taxes receivable balance for the 2022 levy is $10.7M on September 30. Local Retail Sales Tax – Local retail sales tax exceeded prior year and YTD budget. The majority of the increase in local retail sale tax revenues over the prior year is coming from the services and wholesale sectors. It is important to note that sales tax revenues have a two month lag between the time of the sale and the City’s receipt of the sale tax from the State. Please see the September sales tax report for information regarding sales tax figures by industry. State Sales Tax Credit – The sales tax credit is comprised of two items: (1) the City was awarded $500k per year in sales tax credit revenues under the Local Revitalization Financing program. This award is to pay the debt service on the LRF bonds issued in 2019 to fund public improvements within the South Lake Washington Local Revitalization Area. (2) In accordance with SHB 1406, the City passed ORD 5972 authorizing 0.0073 sales and use tax for affordable and supportive housing. The city began collecting these sales tax credit revenues in 2020. Both of these taxes have an annual maximum limit paid within the State’s fiscal year beginning each July, therefore, most of the taxes are collected in the city’s 3rd and 4th quarter of each year and any fluctuation in the YTD budget will even out in the Q4 financial report. Criminal Justice Sales Tax – The criminal justice sales tax is a 0.1% sales tax imposed by the County for criminal justice purposes. The County must share 90% of the revenues collected with all cities and towns in the county on a per capita basis. The increase in criminal justice sales tax directly relates to the increase in local retail sales tax, as described above. Admissions Tax – An increase in admission tax over 2021 figures is largely due to an increase in person events with the restrictions of the pandemic lifted and the city now collects admission tax on green fees from the Maplewood Golf Course which was previously thought to be exempt. Utility Tax – The utility tax revenues budget was reduced in previous years as this tax was impacted from the utility moratorium during the pandemic. After the utility moratorium was lifted in September of 2021, these revenues have rebounded to pre‐pandemic figures. Electrical and natural gas utility tax is exceeding budget and higher than 2021 revenues largely due to an increase of use as more commercial office spaces and workplaces have returned to the office. The breakdown of utility tax is as follows: 2021 2022 2022 Actual Budget Actual $ % $ % Property Tax 12,435,758 12,456,581 12,816,041 380,283 3.1% 359,460 2.9% Local Retail Sales Tax 24,058,678 25,366,902 27,376,592 3,317,914 13.8% 2,009,690 7.9% State Sales Tax Credit 529,936 736,380 493,566 (36,370) ‐6.9% (242,814) ‐33.0% Criminal Justice Sales Tax 2,522,510 2,251,107 2,796,776 274,266 10.9% 545,669 24.2% Natural Gas Use Tax 102,310 88,474 171,518 69,208 67.6% 83,044 93.9% Admission Tax 10,815 190,416 211,230 200,415 1853.1% 20,814 10.9% Utility Tax 11,783,195 11,666,669 12,935,730 1,152,535 9.8% 1,269,061 10.9% Leasehold Excise Tax 128,750 137,094 132,989 4,239 3.3%(4,105) ‐3.0% Gambling Excise Tax 2,768,593 2,272,550 2,912,603 144,010 5.2% 640,053 28.2% B&O Tax 10,866,972 11,216,478 12,782,685 1,915,713 17.6% 1,566,207 14.0% YTD Total 65,207,517$ 66,382,649$ 72,629,730$ 7,422,213$ 11.4% 6,247,081$ 9.4% Annual Total 93,151,259$ 94,129,261$ Taxes by Type Revenue 2022 vs. 2021 2022 vs. Budget Year to Date through September Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 3 of 32 Gambling Excise Tax – Gambling excise taxes can fluctuate based on economy therefore the budget is set at an average amount over the past several years. The current year revenues are above the budget due to substantial increases from the card games tax. Business and Occupation (B&O) Tax – B&O tax revenues rely heavily on the revenue of a limited number of large businesses. The most significant change was due to a change in the tax structure beginning in January 2022 which increased the maximum tax cap any one taxpayer is required to pay in a year by $2M. LICENSES & PERMITS Franchise Fees –Cable franchise fees make up about 80‐90% of the franchise fee revenue and as we continue to see consumers make changes in their use of cable services; this fee is expected to decrease along with the cable utility tax revenues. The revenue budget for franchise fees and cable utility taxes will continue to be closely monitored in the following year and adjusted as necessary to align with the receipt of revenues. Business Licenses – The amount of business license revenue over budget is due to better than expected economic recovery. The business license revenue budget was adjusted down at the start of the pandemic and has remained low as it was unknown how quickly the economy would recover. Building Permits – Building permit revenues are up from the prior year due to a general increase in the construction industry. Building permits are collected upon permit issuance. INTERGOVERNMENTAL 2021 2022 2022 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Electrical 3,880,364$ 3,969,856$ 4,619,995$ 739,631$ 19.1% $ 650,139 16.4% Natural Gas 1,182,747 1,111,359 1,404,804 222,057 18.8% 293,445 26.4% Cell 439,012 418,291 388,703 (50,309) ‐11.5% (29,588)‐7.1% Phone 536,636 523,021 522,376 (14,260) ‐2.7% (645)‐0.1% Cable 943,884 800,403 921,171 (22,713) ‐2.4% 120,768 15.1% Garbage 580,458 586,300 555,083 (25,375) ‐4.4% (31,217)‐5.3% City Utilities 4,220,095 4,257,439 4,523,598 303,503 7.2% 266,159 6.3% YTD Total 11,783,196$ 11,666,669$ 12,935,730$ 1,152,534$ 9.8%1,269,061$ 10.9% 2022 vs. 2021 2022 vs. Budget 2021 2022 2022 Actual Budget Actual $ % $ % Franchise Fees 1,221,257 1,246,219 1,142,553 (78,704) ‐6.4% (103,666) ‐8.3% Business Licenses 876,922 755,801 899,615 22,693 2.6% 143,814 19.0% Animal Licenses 54,070 74,303 49,030 (5,040) ‐9.3% (25,273) ‐34.0% Building Permits 2,016,855 2,775,156 3,751,199 1,734,344 86.0% 976,043 35.2% ROW/Street Excavation Permits 33,340 36,939 32,374 (966) ‐2.9% (4,565) ‐12.4% Special Event Permits 510 1,000 1,020 510 100.0% 20 2.0% YTD Total 4,202,954$ 4,889,418$ 5,875,790$ 1,672,837$ 39.8% 986,373$ 20.2% Annual Total 5,255,808$ 6,322,163$ Licenses & Permits by Type Year to Date through September Revenue 2022 vs. 2021 2022 vs. Budget 2021 2022 2022 Actual Budget Actual $ % $ % State Shared Revenue 3,387,443 2,869,363$ 3,083,914 (303,529)$ ‐9.0%214,551$ 7.5% Federal Grants 1,210,696 3,531,756 12,983,668 11,772,972 972.4% 9,451,912 267.6% State Grants 86,403 480,296 80,310 (6,093) ‐7.1% (399,986) ‐83.3% Local Grants 270,289 134,289 30,775 (239,514) ‐88.6% (103,514) ‐77.1% YTD Total 4,954,831$ 7,015,704$ 16,178,667$ 11,223,836$ 226.5% 9,162,963$ 130.6% Annual Total 5,835,037$ 22,216,539$ Intergovernmental by Type Revenue 2022 vs. 2021 2022 vs. Budget Year to Date through September Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 4 of 32 State Shared Revenue – The breakdown of State Shared Revenue is as follows: Criminal Justice One Time – The decrease from prior year is due to a one‐time payment received in 2021 intended to offset costs generated by law enforcement and criminal justice related legislation enacted between January 1, 2020 and June 30, 2021. Federal/State/Local Grants – Federal/State/Local grant revenues vary significantly from year‐to‐year based on what grants have been awarded and the timing of grant expenditures and related reimbursement requests. Grant revenues are budgeted at 100% of the award at the time the grant agreement is finalized, and any amounts not received are carried forward each year until either 1) the grant funds are fully received or 2) the grant agreement expires. Federal grants include ARPA funding of which a significant portion has been recognized in Q3 this has significantly influenced the comparison to prior year and budget. The comparison vs budget will more closely align in the Q4 financial report as the YTD budget is heavily skewed to November and December as the majority of reimbursement requests are done at the end of the year. CHARGES FOR SERVICES Public Safety Services – The decrease in public safety services from the prior year is due to the 2021 figure includes a large payment for 2020 services ($150k) received in 2021 and a decrease in availability of police staff to provide extra duty services. Currently, there is a large amount of unfilled police positions therefore, any extra hours are needed to cover minimum staffing for patrol. There has also been an overall decrease in revenues from electronic home detection, due to a decrease in prosecutions needing this service. Development Services ‐ The increase in development services from prior year and budget is due to an increase in fees for permits and inspections. Also, several large one time fees for large projects were collected in 2022 including inspection appraisal fees for King County parks shops and Solera project. Development services also received a large fee in lieu of affordable housing unit ($292k) which was not budgeted. 2021 2022 2022 Tax by Type YTD Actual YTD Budget YTD Actual$%$% Judicial Contribution 43,051$ 15,061$ 32,326$ (10,725)$ ‐24.9%17,265$ 114.6% Crim Just ‐ Pop 25,744 18,340 27,326 1,582 6.2% 8,986 49.0% Crim Just ‐ Spec Prog 91,733 84,099 96,968 5,235 5.7% 12,869 15.3% Crim Just ‐ One Time 420,599 ‐ ‐ (420,599) N/A ‐ N/A State DUI 12,776 6,596 8,733 (4,043) ‐31.7%2,137 32.4% Marijuana Distribution 164,847 143,202 211,825 46,978 28.5% 68,623 47.9% Liquor Profits 625,319 637,516 623,247 (2,072) ‐0.3% (14,269) ‐2.2% Liquor Excise Tax 538,356 360,523 554,390 16,034 3.0% 193,867 53.8% Fuel Tax 1,465,017 1,604,026 1,529,101 64,084 4.4%(74,925) ‐4.7% YTD Total 3,387,442$ 2,869,363$ 3,083,916$ (303,526)$ ‐9.0%214,553$ 7.5% 2022 vs. 2021 2022 vs. Budget 2021 2022 2022 Actual Budget Actual $ % $ % Passport Fees ‐ 40,862 7,450 7,450 100.0%(33,412) ‐81.8% Court Services 112,179 61,583 117,259 5,081 4.5% 55,677 90.4% General Government Services 407 417 254 (153) ‐37.7% (163) ‐39.1% Public Safety Services 854,499 756,773 526,308 (328,191) ‐38.4% (230,465) ‐30.5% Development Services 1,777,161 1,673,734 2,694,985 917,824 51.6% 1,021,250 61.0% Transportation Services 56,659 ‐ 31,645 (25,014) ‐44.1%31,645 100.0% Social Services ‐ ‐ 135,081 135,081 100.0% 135,081 100.0% Recreation/Farmer's Market/Events 316,508 1,011,189 1,147,951 831,443 262.7% 136,762 13.5% Interfund Services 3,912,671 4,151,934 3,872,028 (40,643) ‐1.0% (279,906) ‐6.7% YTD Total 7,030,084$ 7,696,492$ 8,532,959$ 1,502,877$ 21.4% 836,468$ 10.9% Annual Total 8,988,252$ 9,912,049$ Year to Date through September Charges for Services by Type Revenue 2022 vs. 2021 2022 vs. Budget Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 5 of 32 Social Services – The increase in social services revenues over budget and prior year relate primarily to two agreements one for Best Start for Kids program ($87k) and the Veterans, Seniors & Humans Services Levy (VSHSL) grant ($48k) which historically have been received and budgeted for in Q4. FINES AND PENALTIES Photo Enforcement Program – Photo enforcement revenues have decreased from prior year as school zone cameras were turned back on as in‐person learning resumed in early March 2021 which caused an initial surge in the photo enforcement revenues; revenues have returned to normal amounts in 2022. Revenues remain over budget but are projected to get closer to the annual budget in Q4 as we continue to see a decrease from prior year’s revenues. Non‐Court Fines, Forfeitures and Penalties – Non‐court fines and penalties is over the YTD budget due to a change in accounting for penalties for late or delinquent business licenses ($25k) that were previously accounted for in the transportation capital improvement fund. There was also an increase in false alarm penalties ($36k); these fees are now administered by a third party and have been consistently over budget. MISCELLANEOUS REVENUES Interest and Other Investment Earnings – Investment earnings have rebounded significantly in 2022 and are currently above prior YTD as well as YTD budget. Investment earnings have varied over the past couple of years as the market has seen uncertainty with the pandemic and now concerns of recession. These revenues are highly influenced by the federal funds rate, and we may continue to see a rise in investment earnings as this is adjusted. Rents, Leases, and Concessions – Rents, leases, and concessions revenues increased over the prior year primarily due to rent waivers provided in 2021 in response to COVID‐19 that were discontinued in 2022. The amount over budget is due to higher than anticipated rentals of recreation facility rentals ($36k), right of way permits ($12k), and aquatic center rental ($22K) over their respective annual budgets. Contributions/Donations – Contributions and donations are below budget and lower than the previous year largely due to the timing of the lodging tax transfer to fund community events that have been historically recorded throughout the year but will be done at once in the yearend adjustments. The prior year also included a onetime contribution from AARP Fitlot sponsorship. 2021 2022 2022 ActualBudgetActual$%$% Civil Penalties 195,875$ 239,890$ 219,102$ 23,227$ 11.9%(20,788)$ ‐8.7% Photo Enforcement Program 3,103,984 2,519,984 2,745,719 (358,266) ‐11.5%225,734 9.0% Criminal Traffic Misdemeanor Fines 36,622 37,550 22,895 (13,726) ‐37.5% (14,655) ‐39.0% Criminal Non‐Traffic Fines 4,120 11,978 3,461 (659) ‐16.0% (8,517) ‐71.1% Criminal Costs 26,998 30,040 24,168 (2,830) ‐10.5% (5,871) ‐19.5% Non‐Court Fines, Forfeitures and Penalties 64,498 37,737 148,733 84,235 130.6% 110,995 294.1% YTD Total 3,432,097$ 2,877,180$ 3,164,078$ (268,018)$ ‐7.8%286,899$ 10.0% Annual Total 4,622,320$ 3,829,782$ Fines and Penalties by Type Revenue 2022 vs. 2021 2022 vs. Budget Year to Date through September 2021 2022 2022 Actual Budget Actual $ % $ % Interest and Other Investment Earnings 213,789$ 140,660$ 479,968$ 266,179$ 124.5% 339,308$ 241.2% Rents, Leases, and Concessions 734,118 1,090,346 1,193,284 459,166 62.5% 102,938 9.4% Contributions/Donations from Private Source s 162,534 77,241 28,564 (133,970) ‐82.4% (48,677) ‐63.0% Other 64,546 195,032 141,042 76,496 118.5%(53,990) ‐27.7% YTD Total 1,174,987$ 1,503,279$ 1,842,858$ 667,871$ 56.8% 339,579$ 22.6% Annual Total 1,752,739$ 2,042,296$ Miscellaneous by Type Year to Date through September Revenue 2022 vs. 2021 2022 vs. Budget Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 6 of 32 OTHER FINANCING SOURCES Transfers from Other Funds – The amount under budget relates to the anticipated transfer of funds from the capital projects fund for the family first center. The funding previously transferred to support the family first construction project are now being replaced with REET 1 revenues. This transfer will be made in Q4 of the current year. Prior Period Adjustment – Beginning in 2014, a recurring interfund transfer in the annual amount of $500,000 was recorded between the Waterworks Utility fund (paying fund) and the General fund (receiving fund) in error. This transfer should not have continued annually and is being reversed. The reversal entry will be made in Q4 as part of the year end adjustments. Insurance Recoveries – Increase relates to insurance recovery for damage to streetlights and poles. This account reflects insurance recoveries for expenditures incurred in prior years but received an insurance reimbursement in the current year. Insurance recoveries are generally not budgeted as they are not a predictable source of revenue. GENERAL FUND EXPENDITURES The following tables summarize expenditures by category for each department within the General Fund. Personnel – There was an increase in personnel costs over the prior year due to filling positions that were held vacant in 2021 in response to COVID‐19, a cost‐of‐living increase as union contracts were settled in 2022 and police retro pay for 2021 wage increase per union negotiated contracts. The amount of personnel costs under budget is due to the budget assuming all positions would be filled for the entire year. There are currently 47 vacancies for those positions funded by the general fund. Supplies – The increase over prior year primarily relates to an increase in street maintenance supplies ($231K), specifically asphalt. With the purchase of the new advanced paving equipment and being fully staffed, this group has been able to complete substantially larger projects on a more frequent basis then in the past. Recreation also increased from prior year ($118k) largely due to the replacement of furniture at the community center. The amount over YTD budget is due to one‐ time purchases of recreation furniture ($51k), SWAT expenditures ($50k), and fuel expenditures due to increased fuel costs ($20k). Contracted Services ‐ The increase in contracted services is over prior year are due to the following: (1) Increase in CED economic development expenditures for ($290k) for small business grants and Main Street Renton project expenditures, (2) Increase in human services expenditures ($287k) for one time CDBG funds $284k, (3) Recreation ($251k) due to program costs for instructor fees and grant contract expenditures as recreation reopened in 2022, (4) Non departmental ($329) for increased expenditures for HB1406 funds for South King Housing and Homeless Partners. These increases were partially offset by a decrease from prior year for Housing ($866k) due to one time payments to RHA in 2021. The amount under budget is primarily due to (1) ARPA funds allocated for business grants of $600K were budgeted in support for downtown 2021 2022 2022 Actual Budget Actual $ % $ % Transfers from Other Funds 23,149$ 3,054,187$ 14,187$ (8,962) ‐38.7% (3,040,000) ‐99.5% Prior Period Adjustment ‐ (3,437,067) 348,871 348,871 100.0% 3,785,938 ‐110.2% Interfund Loan Payment Received ‐ 38,514 26,960 26,960 100.0%(11,554) ‐30.0% Insurance Recoveries 25,288 ‐ 102,850 77,562 306.7% 102,850 100.0% Sale of Capital Assets 41,718 ‐ 2,000 (39,718) ‐95.2%2,000 100.0% YTD Total 90,155$ (344,366)$ 494,868$ 404,713$ 448.9% 839,234$ ‐243.7% Annual Total (614,116)$ (344,366)$ Revenue 2022 vs. 2021 2022 vs. Budget Year to Date through September Other Financing Sources by Type General Fund Summary of Uses 2021 Year to Date through September YTD Actual YTD Budget YTD Actual $%$% Personnel 45,272,549$ 57,555,880$ 50,595,230$ (5,322,681)$ ‐11.8% 6,960,650$ 12.1% Supplies 942,040 1,154,681 1,300,734 (358,694) ‐38.1%(146,053) ‐12.6% Contracted Services 14,377,875$ 18,787,976$ 14,684,230$ (306,355)$ ‐2.1% 4,103,746$ 21.8% Capital Outlay 1,035,537 95,734 116,926 918,611 88.7%(21,192) ‐22.1% Debt Service ‐$ 225,309$ 225,309$ (225,309)$ 100.0%‐$ 0.0% Internal Services 12,846,202 15,390,371 15,359,862 (2,513,660) ‐19.6% 30,509 0.2% Transfers Out 1,532,525$ 5,812,895$ 5,812,895$ (4,280,370)$ ‐279.3%‐$ 0.0% Total Expenditures 76,006,728 99,022,846 88,095,186 (12,088,458) ‐15.9% 10,927,660 11.0% Annual Total 107,353,981 143,978,555 2022 2022 vs. 2021 2022 vs. Budget Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 7 of 32 business impacted by the pandemic of which $170k remains unspent, (2) Human Services $775k unspent for equity and community assessment as well as $500k in unspent CDBG grant funds. (3) $250k in economic development contracted services budget that have not been spent, professional services from 3 Department of Commerce grants, (4) Police Admin $880k below YTD budget which will be expended in Q4 for SCORE and Valley Communications, and (5) $1.5M in reserve budget. Capital Outlay – Economic Development capital outlay is associated with the Downtown Streetscape project being funded through a CDBG grant. Prior year figures include the funding of those one time planning/construction costs. Debt Service – The general fund issued an interfund loan to the Maplewood golf course to fund the purchase of golf carts. This interfund loan was approved in 2021 however due to supply chain issues the carts were not received until 2022. Internal Services – Current quarter is increased form prior year primarily due increase in Insurance Fund charges $600k (increased insurance costs), and IT Fund charges $1.7M (Eden replacement recovery). Interfund Transactions – Increase over prior year relates to a $4M property tax transfer which included funding to IT for broadband Wi‐Fi project and body cameras, and to facilities for the city hall lobby remodel project. Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 8 of 32 DEBT SERVICE FUNDS Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to the City’s general obligation bond issues. YTD budgets are not prepared for debt service funds. GENERAL GOVERNMENTAL MISCELLANEOUS DEBT FUND The General Governmental Miscellaneous Debt Fund is the only debt service fund maintained by the City. Interfund Transactions – Decrease from prior year due to decreased need for transfers from general fund as debt service costs are decreasing with the payoff of the 2010 general obligation bonds. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 114,740$ 44,610$ 44,705$ (70,035)$ 95$ 100.21% Investment Earnings 15,706 ‐ 25,561 9,855 25,561 N/A TOTAL REVENUES 130,446 44,610 70,266 (60,180) 25,656 157.51% EXPENDITURES: Principal 595,158 3,069,547 609,547 (14,389) 2,460,000 19.86% Interest 824,069 1,272,373 712,307 111,762 560,066 55.98% TOTAL EXPENDITURES 1,419,227 4,341,920 1,321,854 97,373 3,020,066 30.44% Transfers In 1,490,188 4,489,359 611,550 (878,638) (3,877,809) 13.62% NET TRANSFERS 1,490,188 4,489,359 611,550 (878,638) (3,877,809) 13.62% CHANGE IN FUND BALANCE 201,407 192,049 (640,038) (841,445) (832,087) ‐333.27% BEGINNING FUND BALANCE, Jan 1 5,010,629 5,218,125 5,218,125 207,496 ‐ 100.00% ENDING FUND BALANCE, Sep 30 5,212,036$ 5,410,174$ 4,578,087$ (633,949)$ (832,087)$ 84.62% Debt Service Reserve 2,717,575 2,717,575 2,717,575 AVAILABLE FUND BALANCE 2,494,461$ 2,692,599$ 1,860,512$ VARIANCE FAVORABLE (UNFAVORABLE) GENERAL GOVERNMENTAL MISCELLANEOUS DEBT Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 9 of 32 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. YTD budgets are not prepared for special revenue funds. Detailed explanations will be provided for material differences between prior year and or budgeted amounts. Hotel/Motel Fund The Hotel/Motel Fund accounts for monies collected through an increase of 1% in hotel/motel taxes for the purpose of increasing tourism in the City or Renton, as authorized under RCW 67.28.180. The Lodging Tax Advisory Committee solicits applications for awards and brings their recommendations to Council for approval at least once per year. Awards for events are paid to applicants at the conclusion of the event once certain reporting requirements have been met. Taxes – Tax revenue is up from prior year and budget as many hotels were only open in limited capacity during 2021 and have since rebounded to pre‐pandemic levels. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 184,096$ 200,000$ 355,770$ 171,674$ 155,770$ 177.89% Contributions 25,000 25,000 20,000 (5,000) (5,000) 80.00% Investment Earnings 2,539 ‐ 4,190 1,651 4,190 N/A TOTAL REVENUES 211,635 225,000 379,960 168,325 154,960 168.87% EXPENDITURES: Contracted Services 226,543 578,207 186,088 40,455 392,119 32.18% TOTAL EXPENDITURES 226,543 578,207 186,088 40,455 392,119 32.18% Transfers Out ‐ 40,000 ‐ ‐ ‐ 0.00% NET TRANSFERS ‐ (40,000) ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE (14,908) (393,207) 193,872 208,780 587,079 ‐49.31% BEGINNING FUND BALANCE, Jan 1 893,604 728,421 728,421 (165,183) ‐ 81.51% ENDING FUND BALANCE, Sep 30 878,696$ 335,214$ 922,293$ 43,597$ 587,079$ 104.96% VARIANCE FAVORABLE (UNFAVORABLE) HOTEL/MOTEL Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 10 of 32 Cable Communications Fund The Cable Communications Fund accounts for funding for promotion and development of cable communications as established by City ordinance. The main use of the fund is to support the broadcasting of City Council meetings on Channel 21. Supplies – Increase in supplies from prior year is due to the replacement of equipment in council chambers. Housing & Supportive Services In accordance with HB 1590, the City Council passed ORD 5983 authorizing an additional 0.1% sales and use tax, effective January 1, 2021. The additional sales tax was not authorized at the time the 2021‐2022 budget was prepared. Anticipated revenues are expected to be included in the mid‐biennial budget adjustment. The additional sales and use tax is restricted for housing and related services, in accordance with RCW 82.14.530. Taxes – Tax revenues have increased from prior year due to an increase in overall sales tax performance, see page 2 of this report for additional information. Contracted Services – Increase in contracted services is due to a housing services grant of $1.5M paid to Renton Housing Authority for the Sunset Gardens affordable housing project. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 55,099$ 57,674$ 48,049$ (7,050)$ (9,625)$ 83.31% Investment Earnings 1,962 ‐ 3,244 1,282 3,244 N/A TOTAL REVENUES 57,061 57,674 51,293 (5,768) (6,381) 88.94% EXPENDITURES: Supplies 6,184 368,837 262,791 256,607 106,046 71.25% Contracted Services 34,850 51,372 57,558 22,708 (6,186) 112.04% Capital Outlay ‐ 40,000 ‐ ‐ 40,000 0.00% TOTAL EXPENDITURES 41,034 460,209 320,349 279,315 139,860 69.61% Transfers In ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 16,027 (402,535) (269,056) (285,083) 133,479 N/A BEGINNING FUND BALANCE, Jan 1 677,710 731,245 731,245 53,535 ‐ 100.00% ENDING FUND BALANCE, Sep 30 693,737$ 328,710$ 462,189$ (231,548)$ 133,479$ 140.61% CABLE COMMUNICATIONS VARIANCE FAVORABLE (UNFAVORABLE) 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 2,170,166$ 3,490,000$ 3,197,778$ 1,027,612$ (292,222)$ 91.63% Investment Earnings ‐ ‐ 19,949 19,949 19,949 N/A TOTAL REVENUES 2,170,166 3,490,000 3,217,727 1,047,561 (272,273) 92.20% EXPENDITURES: Contracted Services ‐ 1,710,000 1,502,339 1,502,339 207,661 87.86% TOTAL EXPENDITURES ‐ 1,710,000 1,502,339 1,502,339 207,661 87.86% NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 2,170,166 1,780,000 1,715,388 (454,778) (64,612) 96.37% BEGINNING FUND BALANCE, Jan 1 ‐ 3,171,729 3,171,729 3,171,729 ‐ 100.00% ENDING FUND BALANCE, Sep 30 2,170,166$ 4,951,729$ 4,887,117$ 2,716,951$ (64,612)$ 98.70% HOUSING & SUPPORTIVE SERVICES VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 11 of 32 Springbrook Wetlands Fund The Springbrook Wetlands Fund was established in 2007 for the purpose of providing accounting for the Springbrook Creek Wetland and Habitat Mitigation Bank project. The fund will receive revenue by selling Wetlands credits which will be used to fund the ongoing maintenance of the wetland in perpetuity. Sale of Credits – Increase in the sale of credits is due to a sale of springbrook wetland mitigation credits to Renton School District ($230k). Police Seizure Fund The Police Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the accounting for assets seized by Police in accordance with RCW 9A.83.030 and 69.50.505, previously accounted for within the General Fund. These seizure funds are restricted to use exclusively for the expansion and improvement of controlled substances related law enforcement activity. The total fund balance remaining at the end of the year is budgeted in full the following year. Contributions – The increase in contributions from prior year is directly related to an increase in seized property in 2022. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Investment Earnings 1,023$ 1,005$ 1,985$ 962$ 980$ 197.51% Sale of credits 867 ‐ 230,300 229,433 230,300 N/A TOTAL REVENUES 1,890 1,005 232,285 230,395 231,280 23112.94% EXPENDITURES: Personnel ‐ 11,000 4,805 4,805 (6,195) 43.68% Contracted Services ‐ ‐ 4,400 4,400 4,400 N/A TOTAL EXPENDITURES ‐ 11,000 9,205 9,205 1,795 83.68% NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 1,890 (9,995) 223,080 221,190 233,075 N/A BEGINNING FUND BALANCE, Jan 1 348,826 234,325 234,325 (114,501) ‐ 100.00% ENDING FUND BALANCE, Sep 30 350,716$ 224,330$ 457,405$ 106,689$ 233,075$ 203.90% SPRINGBROOK WETLANDS VARIANCE FAVORABLE (UNFAVORABLE) 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Contributions 10,836$ ‐$ 125,480$ 114,644$ 125,480$ N/A Investment Earnings 2,257 ‐ 2,412 155 2,412 N/A TOTAL REVENUES 13,093 ‐ 127,892 114,799 127,892 N/A EXPENDITURES: Supplies 21,771 330,969 ‐ (21,771) 330,969 0.00% Contracted Services 42,053 ‐ ‐ (42,053) ‐ N/A Capital Outlay 84,404 ‐ 139,791 55,387 (139,791) N/A TOTAL EXPENDITURES 148,228 330,969 139,791 (8,437) 191,178 42.24% Transfers Out ‐ 300,556 ‐ ‐ ‐ 0.00% NET TRANSFERS ‐ (300,556) ‐ ‐ 300,556 N/A CHANGE IN FUND BALANCE (135,135) (631,525) (11,899) 123,236 619,626 N/A BEGINNING FUND BALANCE, Jan 1 872,449 631,525 631,525 (240,924) ‐ 100.00% ENDING FUND BALANCE, Sep 30 737,314$ ‐$ 619,626$ (117,688)$ 619,626$ N/A POLICE SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 12 of 32 Police CSAM Seizure Fund The Police CSAM Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the accounting for assets seized by Police in accordance with RCW 9A.88.150, previously accounted for within the General Fund. These seizure funds are restricted to the exclusive use of enforcing the provisions of chapter 9A.88 RCW, Indecent Exposure‐ Prostitution, or chapter 9.68A RCW, Sexual Exploitation of Children. Fire Impact Mitigation Fund This fund accounts for fire impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are used to offset the cost of system improvements necessary to serve the new development. Impact fees are held in this fund and subsequently transferred to the debt service fund to support the debt service on fire station 13. Once the debt on the fire station is repaid, the remaining collections will be disbursed to the Renton Regional Fire Authority for use on qualifying capital projects. Charges for services ‐ The increase in charges for services is primarily due to increased impact fees which correlates directly with other increases in construction and development. This revenue is typically budgeted at a lower amount as construction activity is not cyclical and can fluctuate based on construction projects within the city. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Fines and penalties 22,379$ ‐$ 7,882$ (14,497)$ 7,882$ N/A Investment Earnings 460 ‐ 856 396 856 N/A TOTAL REVENUES 22,839 ‐ 8,738 (14,101) 8,738 N/A EXPENDITURES: Contracted Services ‐ 174,826 44 44 (174,782) 0.03% Capital Outlay ‐ ‐ 18,311 18,311 18,311 N/A TOTAL EXPENDITURES ‐ 174,826 18,355 18,355 156,471 10.50% NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 22,839 (174,826) (9,617) (32,456) 165,209 N/A BEGINNING FUND BALANCE, Jan 1 150,637 174,826 174,826 24,189 ‐ 100.00% ENDING FUND BALANCE, Sep 30 173,476$ ‐$ 165,209$ (8,267)$ 165,209$ N/A POLICE CSAM SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 183,880$ 1,299,000$ 1,177,556$ 993,676$ (121,444)$ 90.65% Investment Earnings 6,382 ‐ 13,794 7,412 13,794 N/A TOTAL REVENUES 190,262 1,299,000 1,191,350 1,001,088 (107,650) 91.71% EXPENDITURES: TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A Transfers Out ‐ 500,634 ‐ ‐ 500,634 0.00% NET TRANSFERS ‐ (500,634) ‐ ‐ 500,634 0.00% CHANGE IN FUND BALANCE 190,262 798,366 1,191,350 1,001,088 392,984 149.22% BEGINNING FUND BALANCE, Jan 1 2,191,452 1,960,733 1,960,733 (230,719) ‐ 100.00% ENDING FUND BALANCE, Sep 30 2,381,714$ 2,759,099$ 3,152,083$ 770,369$ 392,984$ 114.24% FIRE IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 13 of 32 School District Impact Mitigation This fund accounts for school district impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are used to help offset the cost of system improvements necessary to service the new development. Impact fees are held in this fund and subsequently transferred to the Kent, Issaquah, or Renton School District for use on qualifying capital projects. Charges for Services & Contracted Services – The amount over prior year is due to the fact that this fund was newly created at the end of 2021. The revenue is collected from developers and then transferred to the appropriate school district and should be a one for one offset between revenues and expenditures. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services ‐$ 4,595,000$ 4,003,911$ 4,003,911$ (591,089)$ 87.14% Investment Earnings ‐ ‐ 3,670 3,670 3,670 N/A TOTAL REVENUES ‐ 4,595,000 4,007,581 4,007,581 (587,419) 87.22% EXPENDITURES: Contracted Services ‐ 4,595,000 3,959,023 3,959,023 (635,977) 86.16% TOTAL EXPENDITURES ‐ 4,595,000 3,959,023 3,959,023 635,977 86.16% NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE ‐ ‐ 48,558 48,558 48,558 N/A BEGINNING FUND BALANCE, Jan 1 ‐ 12 12 12 ‐ 100.00% ENDING FUND BALANCE, Sep 30 ‐$ 12$ 48,570$ 48,570$ 48,558$ 404750.00% SCHOOL DISTRICT IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 14 of 32 CAPITAL PROJECT FUNDS Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. YTD budgets are not prepared for capital project funds. Project budgets are adopted when funding is secured, and balances are carried forward each year until they are either 1) fully spent or 2) reallocated to another project through the budget adjustment process. Detailed explanations will be provided for material differences between prior year and or budgeted amounts. Community Services Impact Mitigation Fund This fund accounts for park impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are used to help offset the cost of system improvements necessary to service the new development. Impact fees are held in this fund and subsequently transferred to the Municipal Facilities CIP Fund when qualifying capital projects are budgeted. Charges for Services – The increase in charges for services is primarily due to increased impact fees which correlates directly with other increases in construction and development. Transportation Impact Mitigation Fund This fund accounts for transportation impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are used to offset the cost of system improvements necessary to serve the new development. Impact fees are held in this fund and subsequently transferred to the Capital Improvement Fund when qualifying projects are budgeted. Charges for Services – The increase in charges for services is primarily due to increased impact fees which correlates directly with other increases in construction and development. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 204,385$ 1,386,500$ 1,446,410$ 1,242,025$ 59,910$ 104.32% Investment Earnings 5,983 ‐ 21,909 15,926 21,909 N/A TOTAL REVENUES 210,368 1,386,500 1,468,319 1,257,951 81,819 105.90% EXPENDITURES: TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A Transfers In 1,179,783 ‐ ‐ (1,179,783) ‐ N/A Transfers Out ‐ 3,380,595 ‐ ‐ 3,380,595 0.00% NET TRANSFERS 1,179,783 (3,380,595) ‐ (1,179,783) 3,380,595 0.00% CHANGE IN FUND BALANCE 1,390,151 (1,994,095) 1,468,319 78,168 3,462,414 ‐73.63% BEGINNING FUND BALANCE, Jan 1 1,713,833 3,433,393 3,433,393 1,719,560 ‐ 100.00% ENDING FUND BALANCE, Sep 30 3,103,984$ 1,439,298$ 4,901,712$ 1,797,728$ 3,462,414$ 340.56% COMMUNITY SERVICES IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 1,909,674$ 8,018,957$ 8,213,868$ 6,304,194$ 194,911$ 102.43% Investment Earnings 10,844 25,739 53,107 42,263 27,368 206.33% TOTAL REVENUES 1,920,518 8,044,696 8,266,975 6,346,456 222,279 102.76% EXPENDITURES: TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A Transfers Out ‐ 6,851,255 ‐ ‐ 6,851,255 0.00% NET TRANSFERS ‐ (6,851,255) ‐ ‐ 6,851,255 0.00% CHANGE IN FUND BALANCE 1,920,518 1,193,441 8,266,975 6,346,457 7,073,534 N/A BEGINNING FUND BALANCE, Jan 1 3,154,954 5,159,035 5,159,035 2,004,081 ‐ 100.00% ENDING FUND BALANCE, Sep 30 5,075,472$ 6,352,476$ 13,426,010$ 8,350,538$ 7,073,534$ 211.35% TRANSPORTATION IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 15 of 32 REET 1 Fund This fund was established in the 2nd quarter of 2020 to account for the first quarter percent of real estate excise tax (REET) levied in accordance with RCW 82.46.010. The tax may be used for eligible capital projects, as defined in RCW.82.46.010(6), that are included in the capital facilities element of the City’s comprehensive plan. REET 1 tax revenues are held in this fund and subsequently transferred to the appropriate capital project fund when qualifying projects are budgeted. Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high levels in 2021. As interest rates rise, we may continue to see some impact on real estate excise taxes. REET 2 Fund This fund was established in the 2nd quarter of 2020 to account for the second quarter percent of real estate excise tax (REET) levied in accordance with RCW 82.46.035. The tax may be used for eligible capital projects, as defined in RCW.82.46.035(5), that are included in the capital facilities element of the City’s comprehensive plan. REET 2 tax revenues are held in this fund and subsequently transferred to the appropriate capital project fund when qualifying projects are budgeted. Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high levels in 2021. As interest rates rise, we may continue to see some impact on real estate excise taxes. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 3,394,380$ 2,300,000$ 2,885,168$ (509,212)$ 585,168$ 125.44% Investment Earnings 9,524 ‐ 31,446 21,922 31,446 N/A TOTAL REVENUES 3,403,904 2,300,000 2,916,614 (487,290) 616,614 126.81% EXPENDITURES: TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A Transfers In ‐ ‐ ‐ ‐ ‐ N/A Transfers Out ‐ 5,579,996 ‐ ‐ 5,579,996 0.00% NET TRANSFERS ‐ (5,579,996) ‐ ‐ 5,579,996 0.00% CHANGE IN FUND BALANCE 3,403,904 (3,279,996) 2,916,614 (487,290) 6,196,610 ‐88.92% BEGINNING FUND BALANCE, Jan 1 2,042,269 4,508,117 4,508,117 2,465,848 ‐ 100.00% ENDING FUND BALANCE, Sep 30 5,446,173$ 1,228,121$ 7,424,731$ 1,978,558$ 6,196,610$ 604.56% REET 1 VARIANCE FAVORABLE (UNFAVORABLE) 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 3,394,380$ 2,300,000$ 2,885,167$ (509,213)$ 585,167$ 125.44% Investment Earnings 14,602 ‐ 53,260 38,658 53,260 N/A TOTAL REVENUES 3,408,982 2,300,000 2,938,427 (470,555) 638,427 127.76% EXPENDITURES: TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A Transfers In 3,177,680 ‐ ‐ (3,177,680) ‐ N/A Transfers Out ‐ 6,921,118 ‐ ‐ 6,921,118 0.00% NET TRANSFERS 3,177,680 (6,921,118) ‐ (3,177,680) 6,921,118 0.00% CHANGE IN FUND BALANCE 6,586,662 (4,621,118) 2,938,427 (3,648,235) 7,559,545 ‐63.59% BEGINNING FUND BALANCE, Jan 1 3,411,866 8,773,145 8,773,145 5,361,279 ‐ 100.00% ENDING FUND BALANCE, Sep 30 9,998,528$ 4,152,027$ 11,711,572$ 1,713,044$ 7,559,545$ 282.07% REET 2 VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 16 of 32 Municipal Facilities CIP Fund This fund accounts for general governmental facility construction, improvement, and renovation; property acquisitions for parks and City space needs; parks development and equipment; and major maintenance of existing general governmental assets. Transportation capital improvements are accounted for in a separate fund. Grants – Federal/State/Local grant revenues vary significantly from year‐to‐year based on what grants have been awarded and the timing of grant expenditures and related reimbursement requests. Grant revenues are budgeted at 100% of the award at the time the grant agreement is finalized, and any amounts not received are carried forward each year until either 1) the grant funds are fully received or 2) the grant agreement expires. Charges for Services – The decrease from prior year is due a one time payment in 2021 for urban forestry payment in lieu ($157k). These payments are made by developers to the city when it is determined that replacing trees removed for a project is not feasible, they must pay the market value of replacement trees. Contributions – The increase from prior year is due to large one time contributions from the Custer Fund and Senior Center Fund for capital projects in 2022. Both the Custer Fund and Senior Center Fund are donated funds held by the Renton Community Foundation for specified uses and must be requested with an applicable purpose to utilize the funds. Custer Fund is limited for park improvements and Senior Center Fund is limited for projects benefitting the Renton Senior Center. Contracted Services – The increase from prior year is primarily for architectural design for the reconfiguration of the 7th floor offices to support the Human Resources Department that was previously located on the first floor and was moved to make room for the newly created Equity, Housing and Human Services Department. Capital Outlay – Capital outlay fluctuates greatly with capital project schedules and contractor’s billings. A significant number of projects started in early Q4 2022, and it is anticipated significant capital outlay will be spent in the next quarter. The largest YTD expenditures include Kiwanis Park ($930k), Park Avenue N Acquisition ($430k), and Parks major maintenance projects and playground replacements ($406k). 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 1,168,041$ 3,579,907$ 289,129$ (878,912)$ (3,290,778)$ 8.08% Charges for services 157,795 ‐ 4,700 (153,095) 4,700 N/A Sale of general fixed assets 80,000 ‐ ‐ (80,000) ‐ N/A Contributions 11,000 842,154 842,154 831,154 ‐ 100.00% Investment Earnings 58,244 162,840 90,864 32,620 (71,976) 55.80% TOTAL REVENUES 1,475,080 4,584,901 1,226,847 (248,233) (3,358,054) 26.76% EXPENDITURES: Personnel 383,907 427,069 323,093 (60,814) 103,976 75.65% Contracted Services 32,766 1,068,708 137,359 104,593 931,349 12.85% Capital Outlay 3,227,689 36,119,447 2,961,627 (266,062) 33,157,820 8.20% TOTAL EXPENDITURES 3,644,362 37,615,224 3,422,079 (222,283) 34,193,145 9.10% Transfers In ‐ 16,264,057 3,000,000 3,000,000 (13,264,057) 18.45% Transfers Out 4,385,342 50,643 56,518 (4,328,824) (5,875) 111.60% NET TRANSFERS (4,385,342) 16,213,414 2,943,482 7,328,824 (13,258,182) 18.15% CHANGE IN FUND BALANCE (6,554,624) (16,816,909) 748,250 7,302,874 17,565,159 ‐4.45% BEGINNING FUND BALANCE, Jan 1 20,298,663 16,824,783 16,824,783 (3,473,880) ‐ 100.00% ENDING FUND BALANCE, Sep 30 13,744,039$ 7,874$ 17,573,033$ 3,828,994$ 17,565,159$ 223177.97% MUNICIPAL FACILITIES CIP VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 17 of 32 Capital Improvement Fund This fund accounts for the City’s Transportation capital projects. Grants – Federal/State/Local grant revenues vary significantly from year‐to‐year based on what grants have been awarded and the timing of grant expenditures and related reimbursement requests. Grant revenues are budgeted at 100% of the award at the time the grant agreement is finalized, and any amounts not received are carried forward each year until either 1) the grant funds are fully received or 2) the grant agreement expires. Capital Outlay – Increase in capital outlay expenditures is due to large projects ongoing reaching significant completion dates and additional capital expenditures being spent. Largest project spends YTD include Rainier Avenue Phase 4 ($3.4M) and Duvall Avenue ($4.3M). 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 5,644,893$ 43,521,859$ 8,511,683$ 2,866,790$ (35,010,176)$ 19.56% Fines and penalties 29,118 ‐ (108) (29,226) (108) N/A Investment Earnings 46,184 38,200 46,418 234 8,218 121.51% TOTAL REVENUES 5,720,195 43,760,059 8,557,993 2,837,798 (35,202,066) 19.56% EXPENDITURES: Personnel 44,339 81,000 78,171 33,832 2,829 96.51% Supplies 20,598 65,129 90,430 69,832 (25,301) 138.85% Contracted Services 80,412 536,978 103,288 22,876 433,690 19.24% Capital Outlay 9,046,585 62,436,745 11,098,064 2,051,479 51,338,681 17.77% TOTAL EXPENDITURES 9,233,934 63,119,852 11,369,953 2,136,019 51,749,899 18.01% Transfers In ‐ 9,734,705 ‐ ‐ (9,734,705) 0.00% Transfers Out ‐ 61,400 ‐ ‐ (61,400) 0.00% NET TRANSFERS ‐ 9,673,305 ‐ ‐ (9,673,305) 0.00% CHANGE IN FUND BALANCE (3,513,739) (9,686,488) (2,811,960) 701,779 6,874,528 N/A BEGINNING FUND BALANCE, Jan 1 16,792,413 10,868,853 10,868,853 (5,923,560) ‐ 100.00% ENDING FUND BALANCE, Sep 30 13,278,674$ 1,182,365$ 8,056,893$ (5,221,781)$ 6,874,528$ 681.42% CAPITAL IMPROVEMEN T VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 18 of 32 Family First Center Fund This fund is used to account for the construction of the new Family First Center. Funds accumulated for the construction of the Family First Center are maintained in the fund balance until such time that Council authorizes their use through the approval of contracts and additional project budget is established through the budget adjustment process. Grants – Federal/State/Local grant revenues vary significantly from year‐to‐year based on what grants have been awarded and the timing of grant expenditures and related reimbursement requests. Grant revenues are budgeted at 100% of the award at the time the grant agreement is finalized, and any amounts not received are carried forward each year until either 1) the grant funds are fully received or 2) the grant agreement expires. Contributions – The increase in contributions relates to receipt of funds from the Renton Community Foundation who partnered with the city to facilitate the collection of the fundraising needed for construction. Capital Outlay – Increase in capital outlay expenditures is due to the project construction going further into completion causing additional capital expenditures being spent. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental ‐$ 4,509,000$ 1,510,000$ 1,510,000$ (2,999,000)$ 33.49% Contributions ‐ 5,283,000 5,017,222 5,017,222 (265,778) 94.97% Investment Earnings 23,673 ‐ 45,804 22,131 45,804 N/A TOTAL REVENUES 23,673 9,792,000 6,573,026 6,549,353 (3,218,974) 67.13% EXPENDITURES: Contracted Services 60,435 ‐ 39,961 (20,473) (39,961) N/A Capital Outlay 67,603 14,778,258 7,446,695 7,379,092 7,331,563 50.39% TOTAL EXPENDITURES 128,038 14,778,258 7,486,656 7,358,619 7,291,602 50.66% Transfers In 27,879 3,050,643 56,518 28,639 (2,994,125) 1.85% Transfers Out ‐ (3,000,000) ‐ ‐ (3,000,000) N/A NET TRANSFERS 27,879 50,643 56,518 28,639 5,875 111.60% CHANGE IN FUND BALANCE (76,486) (4,935,615) (857,112) (780,626) 4,078,503 N/A BEGINNING FUND BALANCE, Jan 1 8,356,704 8,238,935 8,238,935 (117,769) ‐ 100.00% ENDING FUND BALANCE, Sep 30 8,280,218$ 3,303,320$ 7,381,823$ (898,395)$ 4,078,503$ 223.47% FAMILY FIRST CENTER VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 19 of 32 ENTERPRISE FUNDS Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises. YTD budgets are not prepared for Enterprise Funds. Most Enterprise Funds maintain two separate “management funds”, an operating fund and a capital fund. The funds are consolidated for budget/reporting purposes. Operating budgets lapse at the end of the year. Project budgets are adopted when funding is secured, and balances are carried forward each year until they are either 1) fully spent or 2) reallocated to another project through the budget adjustment process. Detailed explanations will be provided for material differences between prior year and or budgeted amounts. Airport Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the Renton Municipal Airport. The lease revenues were previously classified as charges for services but are not being reflected in their own line item below. Charges for Services & Rents. Leases and Misc. fees – There was a change in accounting for rents and leases to be combined with charges for services in 2021, these revenues are on par when comparing the combination of these 2 lines for 2021. Contracted Services – The increase from the prior year is primarily due to the cost associated with update to the airport master plan ($89k) as well as small increases to repairs and maintenance costs and higher electricity costs. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental ‐$ 379,240$ 57,529$ 57,529$ (321,711)$ 15.17% Charges for services 3,307,239 3,047,910 2,544,427 (762,812) (503,483) 83.48% Rents, leases, and misc fees (831,089) ‐ ‐ 831,089 ‐ N/A Interest and other misc 23,446 29,368 110,772 87,326 81,404 377.19% TOTAL REVENUES 2,499,596 3,456,518 2,712,728 213,132 (743,790) 78.48% EXPENSES: Personnel 816,777 1,442,367 822,160 (5,383) 620,207 57.00% Supplies 19,693 39,471 61,068 (41,375) (21,597) 154.72% Contracted Services 371,303 1,187,468 542,888 (171,585) 644,580 45.72% Internal Services 295,292 459,213 341,856 (46,564) 117,357 74.44% TOTAL OPERATING EXPENSES 1,503,065 3,128,519 1,767,972 (264,907) 1,360,547 56.51% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 996,531 327,999 944,756 (51,775) 616,757 288.04% TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY 458,107 6,259,960 130,327 327,780 6,129,633 2.08% TRANSFERS OUT 6,276 ‐ ‐ 6,276 ‐ N/A NET TRANSFERS (6,276) ‐ ‐ 6,276 ‐ N/A CHANGE IN FUND BALANCE 532,148 (5,931,961) 814,429 282,281 6,746,390 N/A BEGINNING FUND BALANCE, Jan 1 7,558,405 7,741,751 7,741,751 183,346 ‐ 100.00% ENDING FUND BALANCE, Sep 30 8,090,553$ 1,809,790$ 8,556,180$ 465,627$ 6,746,390$ 472.77% Operating Reserve 216,784 241,390 241,390 AVAILABLE FUND BALANCE 7,873,769$ 1,568,400$ 8,314,790$ VARIANCE AIRPORT Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 20 of 32 Solid Waste Fund This fund accounts for revenues and expenses for administration and operating of solid waste, recycling, and yard waste collection services for the City. Charges for Services – This account will fluctuate based on when actual payments are received for services. The increase from prior year is largely due to an increase in rates from the city’s garbage service provider, Republic Services. Contracted Services‐ Contracted services will fluctuate with the charges for services as this line item includes payment to the City’s garbage service provider as well as King County dump fees. Current year expenditures have increased from prior year due to increase of prices from the garbage service provider consistent with increases in CPI. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 69,496$ 313,136$ 34,783$ (34,713)$ (278,353)$ 11.11% Charges for services 15,625,585 23,815,136 16,761,892 1,136,307 (7,053,244) 70.38% Interest and other misc 7,776 5,000 21,283 13,507 16,283 425.66% TOTAL REVENUES 15,702,857 24,133,272 16,817,958 1,115,101 (7,315,314) 69.69% EXPENSES: Personnel 388,806 734,328 349,917 38,889 384,411 47.65% Supplies 471 11,900 7,471 (7,000) 4,429 62.78% Contracted Services 14,178,479 23,734,075 15,712,562 (1,534,083) 8,021,513 66.20% Internal Services 230,869 405,259 293,728 (62,859) 111,531 72.48% TOTAL OPERATING EXPENSES 14,798,625 24,885,562 16,363,678 (1,565,053) 8,521,884 65.76% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 904,232 (752,290) 454,280 (449,952) 1,206,570 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A TRANSFERS OUT 94 ‐ ‐ 94 ‐ N/A NET TRANSFERS (94) ‐ ‐ 94 ‐ N/A CHANGE IN FUND BALANCE 904,138 (752,290) 454,280 (449,858) 1,206,570 N/A BEGINNING FUND BALANCE, Jan 1 2,771,562 3,392,243 3,392,243 620,681 ‐ 100.00% ENDING FUND BALANCE, Sep 30 3,675,700$ 2,639,953$ 3,846,523$ 170,823$ 1,206,570$ 145.70% Operating Reserve 400,000 400,000 400,000 AVAILABLE FUND BALANCE 3,275,700$ 2,239,953$ 3,446,523$ SOLID WASTE VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 21 of 32 Golf Course Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the Maplewood Golf Course. Charges for Services & Interest and other Misc. – It was determined through an audit; the golf course was subject to the city’s admission tax. Admission tax is a tax collected from the consumer at time of purchase. An adjustment for taxes due for years 2017‐2020 were remitted in 2022 along with the associated penalties and interest on the unpaid taxes. Current year reflects the accounting adjustment for this prior period adjustment. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 2,383,998$ 2,170,763$ 2,263,344$ (120,654)$ 92,581$ 104.26% Rents, leases, and misc fees 345,680 527,600 404,306 58,626 (123,294) 76.63% Interest and other misc 3,309 (122,192) (112,733) (116,042) 9,459 N/A TOTAL REVENUES 2,732,987 2,576,171 2,554,917 (178,070) (21,254) 99.17% EXPENSES: Personnel 1,169,634 1,777,316 1,254,141 (84,507) 523,175 70.56% Supplies 288,350 321,704 294,364 (6,014) 27,340 91.50% Contracted Services 99,896 157,250 103,514 (3,618) 53,736 65.83% Internal Services 262,692 460,660 345,495 (82,803) 115,165 75.00% TOTAL OPERATING EXPENSES 1,820,572 2,716,930 1,997,514 (176,942) 719,416 73.52% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 912,415 (140,759) 557,403 (355,012) 698,162 N/A DEBT SERVICE: Principal ‐ 36,774 25,709 (25,709) 11,065 69.91% Interest ‐ 1,740 1,250 (1,250) 490 71.84% TOTAL DEBT SERVICE ‐ 38,514 26,959 (26,959) 11,555 70.00% CAPITAL OUTLAY 12,662 627,410 386,621 (373,959) 240,789 61.62% TRANSFERS IN 51,075 852,661 186,100 135,025 (666,561) 21.83% TRANSFERS OUT 51,075 272,200 186,100 (135,025) 86,100 68.37% NET TRANSFERS ‐ 580,461 ‐ ‐ (580,461) 0.00% CHANGE IN FUND BALANCE 899,753 (226,222) 143,823 (755,930) 370,045 N/A BEGINNING FUND BALANCE, Jan 1 476,746 1,222,897 1,222,897 746,151 ‐ 100.00% ENDING FUND BALANCE, Sep 30 1,376,499$ 996,675$ 1,366,720$ (9,779)$ 370,045$ 137.13% Operating Reserve 641,500 746,233 746,233 AVAILABLE FUND BALANCE 734,999$ 250,442$ 620,487$ GOLF COURSE VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 22 of 32 Water Utility Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the City’s water utility. Charges for services – Decrease from prior year is primarily due to a significant decrease in irrigation usage during May, June and July as we saw considerably higher rainfall during this period then the prior year. Interest and Other Misc. – Increase over prior year is due to increased system development charges and increased special assessment district charges. Personnel ‐ There was a decrease from prior year due to 3 vacant positions being open in 2022. Supplies – The increase over prior year is primarily due to an increase in water chemical costs. Internal Services – Increase from prior year is due to increased use of internal services in 2021 which is allocated out to the departments. This amount is charged out based upon the established budget and will be trued up to actual expenditures at year end. Contracted services – The increase in contracted services expenditures is primarily due to increased electricity expenditures from prior year. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 14,073,834$ 18,449,435$ 13,725,327$ (348,507)$ (4,724,108)$ 74.39% Rents, leases, and misc fees 141,129 136,591 183,986 42,857 47,395 134.70% Interest and other misc 459,737 875,550 1,197,185 737,448 321,635 136.74% TOTAL REVENUES 14,674,700 20,933,613 15,106,498 431,798 (5,827,115) 72.16% EXPENSES: Personnel 3,452,860 5,114,807 3,298,960 153,900 1,815,847 64.50% Supplies 638,118 885,876 802,561 (164,443) 83,315 90.60% Contracted Services 2,341,678 3,620,552 2,482,696 (141,018) 1,137,856 68.57% Internal Services 1,904,709 2,829,630 2,107,536 (202,827) 722,094 74.48% TOTAL OPERATING EXPENSES 8,337,365 12,450,865 8,691,753 (354,388) 3,759,112 69.81% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 6,337,335 8,482,748 6,414,745 77,410 (2,068,003) 75.62% DEBT SERVICE: Principal 345,818 1,556,117 315,517 30,301 1,240,600 20.28% Interest 98,375 190,874 91,087 7,288 99,787 47.72% TOTAL DEBT SERVICE 444,193 1,746,991 406,604 37,589 1,340,387 23.27% CAPITAL OUTLAY 2,687,602 36,863,818 2,465,513 222,089 34,398,305 6.69% TRANSFERS OUT 2,626 40,138 6,270 (3,644) 33,868 15.62% NET TRANSFERS (2,626) (40,138) (6,270) (3,644) 33,868 N/A CHANGE IN FUND BALANCE 3,202,914 (30,168,199) 3,536,358 333,444 33,704,557 N/A BEGINNING FUND BALANCE, Jan 1 40,776,314 43,849,867 43,849,867 3,073,553 ‐ 100.00% ENDING FUND BALANCE, Sep 30 43,979,228$ 13,681,668$ 47,386,225$ 3,406,997$ 33,704,557$ 346.35% Restricted for Debt Service 1,394,050 1,394,050 1,394,050 Operating Reserve 1,624,606 1,712,156 1,712,156 AVAILABLE FUND BALANCE 40,960,572$ 10,575,462$ 44,280,019$ WATER UTILITY VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 23 of 32 Wastewater Utility Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the City’s wastewater utility. Charges for Services – Wastewater charges increased from the prior year due to COVID‐19. Utility revenues are recognized when received for budgetary purposes. A moratorium on disconnections for non‐payment has been in effect since March 2020 and was lifted in September of 2021. With the moratorium lifted in September of 2021, many prior balances were paid in full showing an increase from prior year. Contracted Services – Amounts increased from prior year due to increased gross receipts tax which is charged on a fixed percentage of revenues collected. As revenues increase we expect the gross receipts tax to increase as well. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 74,250$ 62,422$ 65,195$ (9,055)$ 2,773$ 104.44% Charges for services 8,428,851 11,671,891 8,772,943 344,092 (2,898,948) 75.16% Fines and penalties 5,133 ‐ 56 (5,077) 56 N/A Interest and other misc 638,984 680,250 683,567 44,583 3,317 100.49% TOTAL REVENUES 9,147,218 12,414,563 9,521,761 374,543 (2,892,802) 76.70% EXPENSES: Personnel 1,683,763 2,945,539 1,770,350 (86,587) 1,175,189 60.10% Supplies 67,240 73,842 43,729 23,511 30,113 59.22% Contracted Services 1,645,236 2,461,063 1,746,377 (101,141) 714,686 70.96% Internal Services 1,450,210 1,990,452 1,483,261 (33,051) 507,191 74.52% TOTAL OPERATING EXPENSES 4,846,449 7,470,896 5,043,717 (197,268) 2,427,179 67.51% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 4,300,769 4,943,667 4,478,044 177,275 (465,623) 90.58% DEBT SERVICE: Principal ‐ 624,400 ‐ ‐ 624,400 0.00% Interest 42,551 85,491 39,657 2,894 45,834 46.39% TOTAL DEBT SERVICE 42,551 709,891 39,657 2,894 670,234 5.59% CAPITAL OUTLAY 5,936,064 17,687,727 2,831,892 3,104,172 14,855,835 16.01% TRANSFERS OUT 2,251 ‐ 1,027 1,224 (1,027) N/A NET TRANSFERS (2,251) 48,400 (1,027) 1,224 (49,427) ‐2.12% CHANGE IN FUND BALANCE (1,680,097) (13,405,551) 1,605,468 3,285,565 15,011,019 N/A BEGINNING FUND BALANCE, Jan 1 23,996,217 20,788,687 20,788,687 (3,207,530) ‐ 100.00% ENDING FUND BALANCE, Sep 30 22,316,120$ 7,383,136$ 22,394,155$ 78,035$ 15,011,019$ 303.31% Restricted for Debt Service 661,227 661,227 661,227 Operating Reserve 913,756 962,039 962,039 AVAILABLE FUND BALANCE 20,741,137$ 5,759,870$ 20,770,889$ WASTEWATER UTILITY VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 24 of 32 King County Metro Fund This fund accounts for revenues and expenses for operation of the City’s wastewater utility, as it relates to charges for and payment to King County Metro for water treatment services. Charges for Services – Increase from prior year is largely due the increase in King County fees which we pass through to our wastewater customers. Contracted Services – January 2022 payment to King County Metro was paid in December 2021, current year figures will be only reflect 11 months of cost due to this difference in timing of payment. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 13,263,925$ 18,495,877$ 14,594,549$ 1,330,624$ (3,901,328)$ 78.91% Interest and other misc 12,862 ‐ 28,257 15,395 28,257 N/A TOTAL REVENUES 13,276,787 18,495,877 14,622,806 1,346,019 (3,873,071) 79.06% EXPENSES: Contracted Services 13,015,696 18,495,877 12,272,929 742,767 6,222,948 66.35% TOTAL OPERATING EXPENSES 13,015,696 18,495,877 12,272,929 742,767 6,222,948 66.35% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 261,091 ‐ 2,349,877 2,088,786 2,349,877 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 261,091 ‐ 2,349,877 2,088,786 2,349,877 N/A BEGINNING FUND BALANCE, Jan 1 4,729,749 3,764,012 3,764,012 (965,737) ‐ 100.00% ENDING FUND BALANCE, Sep 30 4,990,840$ 3,764,012$ 6,113,889$ 1,123,049$ 2,349,877$ 162.43% Operating Reserve 380,000 380,000 380,000 AVAILABLE FUND BALANCE 4,610,840$ 3,384,012$ 5,733,889$ KING COUNTY METRO VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 25 of 32 Surface Water Utility Fund This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and maintenance of the City’s surface water utility. Grants/Intergovernmental – Federal/State/Local grant revenues vary significantly from year‐to‐year based on what grants have been awarded and the timing of grant expenditures and related reimbursement requests. Grant revenues are budgeted at 100% of the award at the time the grant agreement is finalized, and any amounts not received are carried forward each year until either 1) the grant funds are fully received or 2) the grant agreement expires. Interest and Other Misc. – The increase over prior year is primarily related to an increase in system development charges largely from work done at the Family First Center development site. Contracted Services – The decrease from prior year is largely due to one time expenditures for professional services contracts related to capital projects that occurred in 2021. Internal Services – Increase from prior year is due to increased use of internal services in 2021 which is allocated out to the departments. This amount is charged out based upon the established budget and will be trued up to actual expenditures at year end. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 24,000$ 50,962$ 24,084$ 84$ (26,878)$ 47.26% Grants / intergovernmental 803,689 14,222,565 1,114,140 310,451 (13,108,425) 7.83% Charges for services 9,515,917 12,483,635 9,468,790 (47,127) (3,014,845) 75.85% Interest and other misc 1,129,745 5,328,141 1,498,102 368,357 (3,830,039) 28.12% TOTAL REVENUES 11,473,351 32,085,303 12,105,116 631,765 (19,980,187) 37.73% EXPENSES: Personnel 2,786,229 4,177,514 2,860,523 (74,294) 1,316,991 68.47% Supplies 91,100 179,267 61,831 29,269 117,436 34.49% Contracted Services 1,771,032 4,519,155 1,403,921 367,111 3,115,234 31.07% Internal Services 1,918,141 2,907,790 2,171,265 (253,124) 736,525 74.67% TOTAL OPERATING EXPENSES 6,566,502 11,783,726 6,497,540 68,962 5,286,186 55.14% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 4,906,849 20,301,577 5,607,576 700,727 (14,694,001) 27.62% DEBT SERVICE: Principal ‐ 510,000 ‐ ‐ 510,000 0.00% Interest 50,985 100,842 48,178 2,807 52,664 47.78% TOTAL DEBT SERVICE 50,985 610,842 48,178 2,807 562,664 7.89% CAPITAL OUTLAY 4,646,198 25,104,106 3,092,113 1,554,085 22,011,993 12.32% Transfers In ‐ 118,033 ‐ ‐ (118,033) 0.00% Transfers Out 20,598 120,478 3,975 16,623 116,503 3.30% NET TRANSFERS (20,598) (2,445) (3,975) 16,623 (1,530) N/A CHANGE IN FUND BALANCE 189,068 (5,415,816) 2,463,310 2,274,242 7,879,126 N/A BEGINNING FUND BALANCE, Jan 1 21,610,356 21,682,758 21,682,758 72,402 ‐ 100.00% ENDING FUND BALANCE, Sep 30 21,799,424$ 20,052,880$ 24,146,068$ 2,346,644$ 4,093,188$ 120.41% Restricted for Debt Service 754,868 754,868 754,868 Operating Reserve 1,109,340 1,204,613 1,204,613 AVAILABLE FUND BALANCE 19,935,216$ 18,093,399$ 22,186,587$ SURFACE WATER UTILITY VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 26 of 32 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. YTD budgets are not prepared for Internal Service Funds. Equipment Rental Fund This fund accounts for revenues and expenses for administration, purchase, and maintenance of the City’s vehicle and equipment Fleet services. Departments pay in monthly amounts for maintenance and operations. Replacement reserves are paid monthly over the estimated useful lives of each individual vehicle or piece of equipment. These reverses are accumulated in fund balance so that they are available to fund the replacement of the vehicle/equipment when the time comes. Interdepartmental services – The decrease from prior year is largely due a significant number of vehicles being fully funded in 2021 therefore decreasing the charges out to departments starting in 2021 for capital recovery. This will continue to fluctuate as older vehicles are replaced. Supplies – Supplies increased from prior year primarily due to fuel expenditures which are heavily influenced by the current market prices of fuel which are significantly higher than prior year. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 56,194$ ‐$ 81,823$ 25,629$ 81,823$ N/A Interdepartmental services 4,932,549 6,302,445 4,783,665 (148,884) (1,518,780) 75.90% Interest and other misc 122,836 12,000 81,293 (41,543) 69,293 677.44% TOTAL REVENUES 5,111,579 6,314,445 4,946,781 (164,798) (1,367,664) 78.34% EXPENSES: Personnel 796,099 1,300,414 823,933 (27,834) 476,481 63.36% Supplies 975,971 1,656,153 1,235,208 (259,237) 420,945 74.58% Contracted Services 232,199 133,166 271,255 (39,056) (138,089) 203.70% Internal Services 22,754 53,755 35,724 (12,970) 18,031 66.46% TOTAL OPERATING EXPENSES 2,027,023 3,143,488 2,366,120 (339,097) 777,368 75.27% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 3,084,556 3,170,957 2,580,661 (503,895) (590,296) 81.38% TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY 256,740 4,120,929 385,294 (128,554) 3,735,635 9.35% TRANSFERS IN ‐ 130,671 ‐ ‐ (130,671) 0.00% TRANSFERS OUT ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ 130,671 ‐ ‐ (130,671) 0.00% CHANGE IN FUND BALANCE 2,827,816 (819,301) 2,195,367 (632,449) 3,014,668 N/A BEGINNING FUND BALANCE, Jan 1 6,376,259 10,125,169 10,125,169 3,748,910 ‐ 100.00% ENDING FUND BALANCE, Sep 30 9,204,075$ 9,305,868$ 12,320,536$ 3,116,461$ 3,014,668$ 132.40% Operating Reserves 9,305,868$ 9,305,868$ AVAILABLE FUND BALANCE 9,204,075$ ‐$ 3,014,668$ EQUIPMENT RENTAL VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 27 of 32 Insurance Fund This fund accounts for the administration and operation of the City’s self‐insurance programs for property losses, liability, workers’ compensation, and unemployment compensation. Expenses are paid by the Insurance Fund and rates are charged to departments based on their claims history over the preceding five years and coverage requirements. Interdepartmental Services – The increase over prior year is due to additional charge outs to city departments for additional anticipated claims costs and increased insurance premiums. Personnel – Decrease in personnel costs are primarily related to a decrease in unemployment and workers compensation claims partially offset by salary increases for cola in 2022. Contracted Services – Increase in contracted services costs from prior year primarily are due to increased insurance premiums costs and claims payments. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 2,383,221$ 4,234,653$ 3,019,072$ 635,851$ (1,215,581)$ 71.29% Interest and other misc 223,637 22,000 249,331 25,694 227,331 1133.32% TOTAL REVENUES 2,606,858 4,256,653 3,268,403 661,545 (988,250) 76.78% EXPENSES: Personnel 905,960 1,621,091 790,794 115,166 830,297 48.78% Supplies 30 6,956 46 (16) 6,910 0.66% Contracted Services 2,234,238 2,956,973 2,517,552 (283,314) 439,421 85.14% TOTAL OPERATING EXPENSES 3,140,228 4,585,020 3,308,392 (168,164) 1,276,628 72.16% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS (533,370) (328,367) (39,989) 493,381 288,378 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A Transfers In ‐ 2,052,772 152,772 152,772 (1,900,000) 7.44% Transfers Out 52,868 52,868 51,420 1,448 1,448 97.26% NET TRANSFERS (52,868) 1,999,904 101,352 154,220 (1,898,552) 5.07% CHANGE IN FUND BALANCE (586,238) 1,671,537 61,363 647,601 (1,610,174) 3.67% BEGINNING FUND BALANCE, Jan 1 19,860,208 20,494,538 20,494,538 634,330 ‐ 100.00% ENDING FUND BALANCE, Sep 30 19,273,970$ 22,166,075$ 20,555,901$ 1,281,931$ (1,610,174)$ 92.74% Operating Reserves 13,952,413 20,906,374 20,906,374 AVAILABLE FUND BALANCE 5,321,557$ 1,259,701$ (350,473)$ INSURANCE VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 28 of 32 Information Technology Fund This fund accounts for the administration, purchase, and operation of the City’s information technology systems, including computer hardware and software, network servers and infrastructure, phone systems, and cell phones. Expenses are paid by the Information Technology Fund and rates are charged to departments based on use. Interdepartmental Services – The increase over prior year for interdepartmental services primarily relates to an increase in charges to departments for the replacement reserve of the City’s ERP system Eden which was budgeted in 2022. Personnel – The amount of personnel costs over prior year is primarily due to open positions in 2021; the positions that had been held vacant due to the pandemic have been filled to support the increase in staff back at the office and the reopening of city hall as well as a cost‐of‐living adjustment in 2022. Supplies & Contracted Services ‐ The amount over prior year largely relates to the purchase of police body cameras. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses and permits 147,064$ 150,000$ 202,395$ 55,331$ 52,395$ 134.93% Interdepartmental services 4,826,925 9,128,746 6,846,561 2,019,636 (2,282,185) 75.00% Interest and other misc 36,333 7,000 26,168 (10,165) 19,168 373.83% TOTAL REVENUES 5,010,322 9,285,746 7,075,124 2,064,802 (2,210,622) 76.19% EXPENSES: Personnel 2,152,288 3,648,251 2,365,136 (212,848) 1,283,115 64.83% Supplies 292,931 2,685,580 985,050 (692,119) 1,700,530 36.68% Contracted Services 1,559,605 3,148,077 1,990,921 (431,316) 1,157,156 63.24% TOTAL OPERATING EXPENSES 4,004,824 9,481,908 5,341,107 (1,336,283) 4,140,801 56.33% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,005,498 (196,162) 1,734,017 728,519 1,930,179 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY 118,614 4,931,797 109,894 8,720 4,821,903 2.23% TRANSFERS IN 120,203 4,384,113 2,086,034 1,965,831 (2,298,079) 47.58% NET TRANSFERS 120,203 4,384,113 2,086,034 1,965,831 (2,298,079) 47.58% CHANGE IN FUND BALANCE 1,007,087 (743,846) 3,710,157 2,703,070 4,454,003 N/A BEGINNING FUND BALANCE, Jan 1 3,939,941 3,653,455 3,653,455 (286,486) ‐ 100.00% ENDING FUND BALANCE, Sep 30 4,947,028$ 2,909,609$ 7,363,612$ 2,416,584$ 4,454,003$ 253.08% Operating Reserves 2,068,477$ 2,068,477$ AVAILABLE FUND BALANCE 4,947,028$ 841,132$ 1,584,978$ INFORMATION TECHNOLOGY VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 29 of 32 Facilities Fund This fund accounts for the administration, maintenance, and operation of City‐owned facilities. Expenses are paid by the Facilities Fund and rates are charged to departments based on square footage. Interdepartmental Services – The increase over prior year is due to increased expenditures in facilities which are charged through an internal service fund charge to each department. Personnel ‐ The amount of personnel costs over prior year is primarily due to open positions in 2021; the positions that had been held vacant due to the pandemic have been filled to support the increase in staff back at the office and the reopening of city hall as well as a cost‐of‐living adjustment in 2022. Supplies and Contracted Services ‐ The increase over prior year largely relates to the increased need to support the increase in staff back at city hall and other remote locations. As city locations are utilized more frequently the costs for electricity and other consumption based services like facilities supplies are expected to increase. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 4,491,956$ 6,649,970$ 4,948,239$ 456,283$ (1,701,731)$ 74.41% Interest and other misc 1,245 4,000 3,083 1,838 (917) 77.08% TOTAL REVENUES 4,493,201 6,653,970 4,951,322 458,121 (1,702,648) 74.41% EXPENSES: Personnel 2,192,307 4,224,986 2,637,501 (445,194) 1,587,485 62.43% Supplies 345,266 662,491 697,002 (351,736) (34,511) 105.21% Contracted Services 985,979 1,805,887 1,109,606 (123,627) 696,281 61.44% Internal Services 97,115 153,770 109,581 (12,466) 44,189 71.26% TOTAL OPERATING EXPENSES 3,620,667 6,847,134 4,553,690 (933,023) 2,293,444 66.51% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 872,534 (193,164) 397,632 (474,902) 590,796 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY 40,063 11,045 15,149 24,914 (4,104) 137.16% Transfers In ‐ 22,705 11,045 11,045 (11,660) 48.65% NET TRANSFERS ‐ 22,705 11,045 11,045 (11,660) 48.65% CHANGE IN FUND BALANCE 832,471 (181,504) 393,528 (438,943) 575,032 N/A BEGINNING FUND BALANCE, Jan 1 504,167 785,189 785,189 281,022 ‐ 100.00% ENDING FUND BALANCE, Sep 30 1,336,638$ 603,685$ 1,178,717$ (157,921)$ 575,032$ 195.25% FACILITIES VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 30 of 32 Communications Fund This fund accounts for community and intergovernmental relations and communications with the public. Communications is a major activity of the City’s administration responsible for external communications, employee communications, media relations, and coordination of all departments in producing the City’s website. Expenses are paid by the Communications Fund and rates are charged to departments based on usage. Interdepartmental services – The increase over prior year primarily relates to an increase in budgeted charges to each department due to increased budgets for expenditure items include personnel which received a cost‐of‐living adjustment in 2022. Personnel – The increase in personnel costs are due to vacant positions in 2021 as well as a portion of the executive services administrative secretary being charged to communications starting in 2022. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental services 865,574$ 1,373,535$ 1,029,970$ 164,396$ (343,565)$ 74.99% Interest and other misc 424 1,000 544 120 (456) 54.40% TOTAL REVENUES 865,998 1,377,535 1,033,514 167,516 (344,021) 75.03% EXPENSES: Personnel 479,772 946,412 601,738 (121,966) 344,674 63.58% Supplies 19,665 55,432 34,499 (14,834) 20,933 62.24% Contracted Services 115,370 381,007 211,364 (95,994) 169,643 55.48% Internal Services 1,500 2,034 1,526 (26) 508 75.02% TOTAL OPERATING EXPENSES 616,307 1,384,885 849,127 (232,820) 535,758 61.31% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 249,691 (7,350) 184,387 (65,304) 191,737 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A Transfers Out ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 249,691 (7,350) 184,387 (65,304) 191,737 N/A BEGINNING FUND BALANCE, Jan 1 151,624 141,517 141,517 (10,107) ‐ 100.00% ENDING FUND BALANCE, Sep 30 401,315$ 134,167$ 325,904$ (75,411)$ 191,737$ 242.91% COMMUNICATIONS VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 31 of 32 Health Insurance Fund This fund accounts for the City’s self‐insured health insurance program. Expenses/claims are paid by the Health Insurance Fund and rates are charged to employees and departments based on annual premiums determined by the City’s Employee Health Plan Board for each type of coverage elected by the employee; paid semi‐monthly in conjunction with each payroll. Premiums – The increase in premiums is due to an increase in the number of staff in 2022 as well as an increase in the premium rates charged in 2022. Interest and Other Misc. – Increase from prior year is largely due to investment interest income which has seen a significant boost in 2022 as interest rates rise. Medical/Dental Claims – Decrease from prior year is due to a decrease in claim expenditures for employee medical and dental services. These costs will fluctuate year to year for many reasons such as general health of population of lives covered as well as timing of payments. 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Premiums 9,181,575$ 13,417,329$ 9,452,305$ 270,730$ (3,965,024)$ 70.45% Interest and other misc 257,196 149,488 396,338 139,142 246,850 265.13% TOTAL REVENUES 9,438,771 13,566,817 9,848,643 409,872 (3,718,174) 72.59% EXPENSES: Personnel 230,702 375,034 265,755 (35,053) 109,279 70.86% Medical/Dental Claims 8,388,602 12,752,837 7,907,601 481,001 4,845,236 62.01% Supplies 844 7,500 2,145 (1,301) 5,355 28.60% Contracted Services 338,590 514,456 367,212 (28,622) 147,244 71.38% Internal Services 60,132 93,669 70,252 (10,120) 23,417 75.00% TOTAL OPERATING EXPENSES 9,018,870 13,743,496 8,612,965 405,905 5,130,531 62.67% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 419,901 (176,679) 1,235,678 815,777 1,412,357 N/A TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 419,901 (176,679) 1,235,678 815,777 1,412,357 N/A BEGINNING FUND BALANCE, Jan 1 5,773,429 6,655,137 6,655,137 881,708 ‐ 100.00% ENDING FUND BALANCE, Sep 30 6,193,330$ 6,478,458$ 7,890,815$ 1,697,485$ 1,412,357$ 121.80% Insurance Reserves 3,774,249 4,123,049 4,123,049 AVAILABLE FUND BALANCE 2,419,081$ 2,355,409$ 3,767,766$ HEALTH INSURANCE VARIANCE Quarterly Financial Report City of Renton, Washington 3rd Quarter 2022 Page 32 of 32 Retiree Healthcare Fund This fund accounts for the City’s self‐insured health insurance program for LEOFF1 retirees. Benefits include medical, prescription drug, Medicare Part B premiums, long‐term care, and vision coverage for retired law enforcement officers and firefighters that were employed by the City prior to October 1, 1977. Dependent spouses and children are not covered. 100% of premiums are provided by the General Fund with annual contributions determined after review of a report prepared by actuaries. Medical/Dental Claims – Increase from prior year is largely due to an increase in long term care costs ($74k) as well as increase in claim expenditures for retiree medical services. CONTACT INFORMATION This report is prepared by the Finance Department. For additional financial information, please also review our website: http://www.rentonwa.gov/. For any questions about the report, please feel free to contact Nate Malone at nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov . 2021 2022 2022 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants / intergovernmental 40,651$ 50,067$ 38,624$ (2,027)$ (11,443)$ 77.14% Premiums 1,968,513 2,640,000 1,968,513 ‐ (671,487) 74.56% Interest and other misc 111,291 20,000 207,175 95,884 187,175 1035.88% TOTAL REVENUES 2,120,455 2,710,067 2,214,312 93,857 (495,755) 81.71% EXPENSES: Personnel 69,808 110,285 62,036 7,772 48,249 56.25% Medical/Dental Claims 764,504 1,312,693 879,164 (114,660) 433,529 66.97% Contracted Services 54,364 29,311 39,853 14,511 (10,542) 135.97% TOTAL OPERATING EXPENSES 888,676 1,452,289 981,053 (92,377) 471,236 67.55% AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 1,231,779 1,257,778 1,233,259 1,480 (24,519) 98.05% TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A CHANGE IN FUND BALANCE 1,231,779 1,257,778 1,233,259 1,480 (24,519) 98.05% BEGINNING FUND BALANCE, Jan 1 16,541,245 18,188,260 18,188,260 1,647,015 ‐ 100.00% ENDING FUND BALANCE, Sep 30 17,773,024$ 19,446,038$ 19,421,519$ 1,648,495$ (24,519)$ 99.87% Insurance Reserves 17,773,024 19,446,038 19,421,519 AVAILABLE FUND BALANCE ‐$ ‐$ ‐$ RETIREE HEALTHCARE VARIANCE