HomeMy WebLinkAboutMONTH 2022 11Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through November 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 95,990,391$
Licenses and permits 6,984,967
Grants / intergovernmental 17,093,025
Charges for services 9,028,747
Fines and penalties 3,805,098
Miscellaneous 1,882,636
Sale of general fixed assets 2,000
Investment Earnings 771,524
Insurance recoveries 169,459
TOTAL REVENUES 135,727,847
EXPENDITURES:
Personnel 61,325,113
Supplies 1,632,629
Contracted Services 19,000,660
Principal 225,309
Capital Outlay 116,926
Internal Services 15,359,993
TOTAL EXPENDITURES 97,660,630
Transfers In 14,187
Transfers Out (5,812,895)
NET TRANSFERS (5,798,708)
CHANGE IN FUND BALANCE 32,268,509
BEGINNING FUND BALANCE, Jan 1 69,102,662
Prior Period Adjustment 383,533
BEGINNING FUND BALANCE, Jan 1 - restated 69,486,195
ENDING FUND BALANCE, Nov 30 101,754,704$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 11,537,583
AVAILABLE FUND BALANCE, Nov 30 87,717,121$
Monthly Financial Report November 2022
Monthly Financial Report City of Renton, Washington November 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 38,670
TOTAL REVENUES 83,375
EXPENDITURES:
Principal 609,547
Interest 715,058
TOTAL EXPENDITURES 1,324,605
Transfers In 611,550
NET TRANSFERS 611,550
CHANGE IN FUND BALANCE (629,680)
BEGINNING FUND BALANCE, Jan 1 5,218,125
ENDING FUND BALANCE, Nov 30 4,588,445$
Debt Service Reserve 2,717,575
AVAILABLE FUND BALANCE 1,870,870$
Monthly Financial Report City of Renton, Washington November 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 477,029$ -$ 4,006,936$ -$ -$ -$ -$ -$
Licenses and permits - 62,730 - - - - - -
Charges for services - - - - 1,191,408 4,062,498 - -
Fines and penalties - - - - - - - 9,626
Contributions 20,000 - - - - - 125,480 -
Investment Earnings 6,781 4,624 34,593 3,294 22,842 3,927 4,174 1,332
Sale of Fixed Assets - - - 230,300 - - - -
TOTAL REVENUES 503,810 67,354 4,041,529 233,594 1,214,250 4,066,425 129,654 10,958
EXPENDITURES:
Personnel - - - 6,022 - - - -
Supplies - 159,574 - - - - - -
Contracted Services 357,620 163,999 1,529,533 4,400 - 4,060,963 8,609 44
Capital Outlay - - - - - - 145,535 18,311
TOTAL EXPENDITURES 357,620 323,573 1,529,533 10,422 - 4,060,963 154,144 18,355
-
Transfers In - - - - - - -
Transfers Out - - - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 146,190 (256,219) 2,511,996 223,172 1,214,250 5,462 (24,490) (7,397)
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, Nov 30 874,611$ 475,026$ 5,683,725$ 457,497$ 3,174,983$ 5,474$ 607,035$ 167,429$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 3,210,548$ 3,210,548$ -$ -$ -$
Grants / intergovernmental - - - - 406,048 9,477,967 1,510,000
Charges for services 1,478,098 8,420,557 - - 33,950 - -
Fines and penalties - - - - - (214) -
Contributions - - - - 841,654 - 5,025,875
Sale of general fixed assets - - - - - - -
Investment Earnings 35,990 91,829 52,968 87,060 140,752 65,403 64,967
TOTAL REVENUES 1,514,088 8,512,386 3,263,516 3,297,608 1,422,404 9,543,156 6,600,842
EXPENDITURES:
Personnel - - - - 352,492 84,272 -
Supplies - - - - - 117,391 -
Contracted Services - - - - 166,450 205,441 42,466
Capital Outlay - - - - 4,795,238 15,803,817 9,825,405
TOTAL EXPENDITURES - - - - 5,314,180 16,210,921 9,867,871
Transfers In - - - - 3,000,000 - -
Transfers Out - - - - - - (33)
NET TRANSFERS - - - - 3,000,000 - (33)
CHANGE IN FUND BALANCE 1,514,088 8,512,386 3,263,516 3,297,608 (891,776) (6,667,765) (3,267,062)
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, Nov 30 4,947,481$ 13,671,421$ 7,771,633$ 12,070,753$ 15,933,007$ 4,201,088$ 4,971,873$
Monthly Financial Report City of Renton, Washington November 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 -$ -$ -$ -$ 86,846$ -$ 33,459$
Grants / intergovernmental 57,529 34,783 - - - - 1,442,131
Charges for services 3,154,438 19,411,214 2,635,467 17,446,706 10,716,538 17,773,710 11,714,937
Fines and penalties - - - - 56 - -
Rents, leases, and misc fees 19,137 - 478,892 235,606 - - -
Interest and other misc 135,507 33,024 (107,358) 1,383,325 891,765 47,879 1,557,302
TOTAL REVENUES 3,366,611 19,479,021 3,007,001 19,065,637 11,695,205 17,821,589 14,747,829
EXPENSES:
Personnel 1,012,492 411,822 1,538,489 4,029,948 2,167,915 - 3,451,126
Supplies 89,165 8,954 342,470 1,005,218 60,794 - 78,549
Contracted Services 614,678 19,243,357 119,231 3,052,893 2,134,694 15,415,730 1,794,939
Internal Services 341,856 293,728 345,495 2,107,536 1,483,261 - 2,171,265
TOTAL OPERATING EXPENSES 2,058,191 19,957,861 2,345,685 10,195,595 5,846,664 15,415,730 7,495,879
CAPITAL, AND TRANSFERS 1,308,420 (478,840) 661,316 8,870,042 5,848,541 2,405,859 7,251,950
DEBT SERVICE:
Principal - - 33,083 315,517 - - -
Interest - - 1,580 91,087 39,657 - 48,178
TOTAL DEBT SERVICE - - 34,663 406,604 39,657 - 48,178
CAPITAL OUTLAY 155,346 - 418,513 2,665,124 3,223,508 - 3,472,326
Transfers In - - 186,100 - - - -
Transfers Out - - (186,100) - (7,297) - (3,975)
NET TRANSFERS - - - - (7,297) - (3,975)
CHANGE IN FUND BALANCE 1,153,074 (478,840) 208,140 5,798,314 2,578,079 2,405,859 3,727,471
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, Nov 30 8,894,825$ 2,913,403$ 1,431,037$ 49,648,181$ 23,366,766$ 6,169,871$ 25,410,229$
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 8,653,435$ 2,513,403$ 684,804$ 46,541,975$ 21,743,500$ 5,789,871$ 23,450,748$
Monthly Financial Report City of Renton, Washington November 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 -$ -$ 237,773$ -$ -$ -$ -$
Grants / intergovernmental - - - - 3,000 - 38,624
Charges for services:
Equipment rental m&o 2,417,330 - 6,846,561 - - - -
Print and mail - - - - 357,456 - -
Communications - - - - 672,514 - -
Facilities - - - 4,870,241 - - -
IT service contracts - - - - - - -
Interest and other misc 91,527 163,278 45,778 5,414 1,348 60,405 150,753
Internal service fund misc:
Vehicle / equipment capital recovery 2,491,493 - - - - - -
Insurance premiums - 1,847,270 - - - - -
Worker's comp/unemployment - 1,425,912 - - - - -
Benefit premiums - - - - - 11,026,226 1,968,513
Other misc 3,713 104,939 319 91,884 - 505,554 171,558
Disposal of capital assets 22,430 - - - - - -
Insurance recoveries 7,738 115,367 - - - - -
TOTAL REVENUES 5,034,231 3,656,766 7,130,431 4,967,539 1,034,318 11,592,185 2,329,448
EXPENSES:
Personnel 997,086 1,045,534 2,892,680 3,171,042 706,658 10,079,419 1,109,977
Supplies 1,509,009 68 1,810,403 787,388 43,160 2,658 -
Contracted Services 347,827 2,763,770 2,595,161 1,623,963 273,598 450,414 47,970
Internal Services 35,724 - - 109,581 1,526 70,252 -
TOTAL OPERATING EXPENSES 2,889,646 3,809,372 7,298,244 5,691,974 1,024,942 10,602,743 1,157,947
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 2,144,585 (152,606) (167,813) (724,435) 9,376 989,442 1,171,501
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 384,842 - 260,740 11,045 - - -
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 1,759,743 (51,254) 1,657,481 (724,435) 9,376 989,442 1,171,501
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, Nov 30 11,884,912$ 20,443,284$ 5,310,936$ 60,754$ 150,893$ 7,644,579$ 19,359,761$
Insurance Reserves - 20,443,284 - - - 4,123,049 19,359,761
Opearting Reserves 9,305,868 - 2,068,477 - - - -
AVAILABLE FUND BALANCE 2,579,044$ -$ 3,242,459$ 60,754$ 150,893$ 3,521,530$ -$
Monthly Financial Report City of Renton, Washington November 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 382,640 -
Collected for Others - 1,713,048
TOTAL REVENUES 565,481 1,713,048
EXPENDITURES:
Distributions to Others 242,020 1,406,650
TOTAL EXPENDITURES 207,633 1,406,650
NET TRANSFERS - -
CHANGE IN FUND BALANCE 357,848 306,398
BEGINNING FUND BALANCE, Jan 1 8,371,183 -
ENDING FUND BALANCE, Nov 30 8,729,031$ 306,398$
Monthly Financial Report City of Renton, Washington November 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 November 30, 2022
Funds
Balance
01/01/2022
Budgeted
Revenue
Revenue
11/30/22
Total Funds
Available
Budgeted
Expenditure
Expenditure
11/30/22 Ending Balance
GENERAL FUND 69,102,662 138,107,723 136,125,567 205,228,229 144,233,971 103,473,525 101,754,704
SPECIAL REVENUE FUNDS:7,632,816 9,897,979 10,267,574 17,900,390 8,741,401 6,454,610 11,445,780
110 Hotel Motel 728,421 225,000 503,810 1,232,231 618,207 357,620 874,611
127 Cable Communication 731,245 57,674 67,354 798,599 460,209 323,573 475,026
130 Housing and Supportive Services 3,171,729 3,490,000 4,041,529 7,213,258 1,710,000 1,529,533 5,683,725
135 Springbrook Wetlands Bank 234,325 231,305 233,594 467,919 51,000 10,422 457,497
140 Police Seizure 631,525 - 129,654 761,179 631,525 154,144 607,035
141 Police CSAM Seizure 174,826 - 10,958 185,784 174,826 18,355 167,429
31X School District Impact Mitigation 12 4,595,000 4,066,425 4,066,437 4,595,000 4,060,963 5,474
304 Fire Mitigation 1,960,733 1,299,000 1,214,250 3,174,983 500,634 - 3,174,983
DEBT SERVICE FUND 5,218,125 4,533,969 694,925 5,913,050 4,341,920 1,324,605 4,588,445
CAPITAL PROJECT FUNDS (CIP):57,806,261 101,217,561 37,154,000 94,960,261 141,358,340 31,393,005 63,567,256
303 Community Services Mitigation 3,433,393 1,386,500 1,514,088 4,947,481 3,380,595 - 4,947,481
305 Transportation Mitigation 5,159,035 8,044,696 8,512,386 13,671,421 6,851,255 - 13,671,421
308 REET1 4,508,117 2,300,000 3,263,516 7,771,633 5,579,996 - 7,771,633
309 REET2 8,773,145 2,300,000 3,297,608 12,070,753 6,921,118 - 12,070,753
316 Municipal Facilities CIP 16,824,783 20,848,957 4,422,404 21,247,187 37,665,866 5,314,180 15,933,007
317 Transportation CIP 10,868,853 53,494,765 9,543,156 20,412,009 63,181,252 16,210,921 4,201,088
336 New Library Development - - - - - - -
346 New Family First Center Dvlpmnt 8,238,935 12,842,643 6,600,842 14,839,777 17,778,258 9,867,904 4,971,873
ENTERPRISE FUNDS:102,442,215 115,114,412 89,368,993 191,811,208 171,626,571 73,976,896 117,834,312
4X2 Airport Operating & CIP 7,741,751 3,456,518 3,366,611 11,108,362 9,388,477 2,213,537 8,894,825
403 Solid Waste Utility 3,392,243 24,133,272 19,479,021 22,871,264 24,885,563 19,957,861 2,913,403
4X4 Golf Operating & CIP 1,222,897 3,428,832 3,193,101 4,415,998 3,655,054 2,984,961 1,431,037
4X5 Water Operating & CIP 43,849,867 20,933,613 19,065,637 62,915,504 51,456,362 13,267,323 49,648,181
4X6 Waste Water Operating & CIP 20,788,687 12,462,963 11,695,205 32,483,892 26,104,765 9,117,126 23,366,766
416 King County Metro 3,764,012 18,495,877 17,821,589 21,585,601 18,495,877 15,415,730 6,169,871
4X7 Surface Water Operating & CIP 21,682,758 32,203,337 14,747,829 36,430,587 37,640,473 11,020,358 25,410,229
INTERNAL SERVICE FUNDS:60,043,265 50,755,494 37,994,769 98,038,034 49,754,860 33,182,915 64,855,119
501 Equipment Repair/Replacement 10,125,169 6,445,116 5,034,231 15,159,400 7,264,417 3,274,488 11,884,912
502 Insurance 20,494,538 6,309,425 3,809,538 24,304,076 4,637,888 3,860,792 20,443,284
503 Information Services 3,653,455 13,669,859 9,216,465 12,869,920 14,413,705 7,558,984 5,310,936
504 Facilities 785,189 6,676,675 4,978,584 5,763,773 6,858,180 5,703,019 60,754
505 Communications 141,517 1,377,535 1,034,318 1,175,835 1,384,885 1,024,942 150,893
512 Insurance, Healthcare 6,655,137 13,566,817 11,592,185 18,247,322 13,743,496 10,602,743 7,644,579
522 Insurance, Leoff1 Retirees HC 18,188,260 2,710,067 2,329,448 20,517,708 1,452,289 1,157,947 19,359,761
FIDUCIARY FUNDS:8,371,183 290,000 2,278,529 10,649,712 200,475 1,614,283 9,035,429
611 Firemens' Pension 8,371,183 290,000 565,481 8,936,664 200,475 207,633 8,729,031
630 Custodial Fund - - 1,713,048 1,713,048 - 1,406,650 306,398
TOTAL FUNDS 310,616,527 419,917,138 313,884,357 624,500,884 520,257,538 251,419,839 373,081,045