HomeMy WebLinkAboutMONTH 2024 04Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through April 30, 2024.
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 2023-2024 Adopted Budget.
General
REVENUES:
Taxes 40,212,202$
Licenses and permits 2,516,430
Grants / intergovernmental 4,444,386
Charges for services 3,393,586
Interdepartmental services 14,944
Fines and penalties 1,245,457
Miscellaneous 1,219,273
Investment Earnings 1,420,128
Insurance recoveries 769
TOTAL REVENUES 54,467,175
EXPENDITURES:
Personnel 24,679,814
Supplies 719,479
Contracted Services 7,749,890
Capital Outlay 45,303
Internal Services 5,243,643
TOTAL EXPENDITURES 38,438,129
Transfers In -
Transfers Out -
NET TRANSFERS -
CHANGE IN FUND BALANCE 16,029,046
BEGINNING FUND BALANCE, Jan 1 99,226,476
BEGINNING FUND BALANCE, Jan 1 - restated 99,226,476
ENDING FUND BALANCE, Apr 30 115,255,522$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 15,986,508
AVAILABLE FUND BALANCE, Apr 30 96,769,014$
Monthly Financial Report April 2024
Monthly Financial Report City of Renton, Washington April 2024
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
2023-2024 Adopted Budget.
General
Governmental
Misc Debt
REVENUES:
Grants / intergovernmental 16,191$
Investment Earnings 68,841
TOTAL REVENUES 85,032
EXPENDITURES:
Principal -
Interest 17,308
TOTAL EXPENDITURES 17,308
Transfers In -
NET TRANSFERS -
CHANGE IN FUND BALANCE 67,724
BEGINNING FUND BALANCE, Jan 1 5,412,174
ENDING FUND BALANCE, Apr 30 5,479,898$
Debt Service Reserve 2,717,575
AVAILABLE FUND BALANCE 2,762,323$
Monthly Financial Report City of Renton, Washington April 2024
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 SeizureREVENUES:Taxes 135,750$ -$ 1,480,264$ -$ -$ -$ -$ -$ Licenses and permits - 24,040 - - - - - - Grants / intergovernmental - - - 4,132 - - - -
Charges for services - - - - 14,826 48,222 - -
Fines and penalties - - - - - - - 1,670
Contributions 20,000 - - - - - 1,222 -
Investment Earnings 12,102 4,823 144,742 9,066 - 271 8,335 1,780
Sale of Fixed Assets - - - - - - - -
TOTAL REVENUES 167,852 28,863 1,625,006 13,198 14,826 48,493 9,557 3,450
EXPENDITURES:
Personnel - - - 2,784 - - - -
Supplies - - - - - - 7,763 -
Contracted Services 73,909 17,421 119,969 261 9,010 26,385 90,639 44
Capital Outlay - - - - - - 86,900 40,278 TOTAL EXPENDITURES 73,909 17,421 119,969 3,045 9,010 26,385 185,302 40,322 - Transfers In - - - - - - - - Transfers Out - - - - - - - - NET TRANSFERS - - - - - - - -
CHANGE IN FUND BALANCE 93,943 11,442 1,505,037 10,153 5,816 22,108 (175,745) (36,872)
BEGINNING FUND BALANCE, Jan 1 889,272 358,300 10,811,847 711,118 - 34 731,928 169,577
Prior Period Adjustment - - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 889,272 358,300 10,811,847 711,118 - 34 731,928 169,577
ENDING FUND BALANCE, Apr 30 983,215$ 369,742$ 12,316,884$ 721,271$ 5,816$ 22,142$ 556,183$ 132,705$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 897,042$ 897,042$ -$ -$ -$
Grants / intergovernmental - - - - 785,123 2,925,839 -
Charges for services 49,147 329,424 - - - 650 -
Contributions - - - - - - 17,547
Investment Earnings 8,876 29,989 26,546 44,055 278,688 200,554 46,454
TOTAL REVENUES 58,023 359,413 923,588 941,097 1,063,811 3,127,043 64,001
EXPENDITURES:
Personnel - - - - 12,436 34,695 -
Contracted Services - - - - 355,669 34,239 -
Capital Outlay - - - - 1,514,247 5,478,374 -
TOTAL EXPENDITURES - - - - 1,882,352 5,547,308 -
Transfers In - - - - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 58,023 359,413 923,588 941,097 (818,541) (2,420,265) 64,001
BEGINNING FUND BALANCE, Jan 1 681,333 2,220,270 1,765,153 3,145,503 21,980,020 15,282,117 3,643,436
Prior Period Adjustment - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 681,333 2,220,270 1,765,153 3,145,503 21,980,020 15,282,117 3,643,436
ENDING FUND BALANCE, Apr 30 739,356$ 2,579,683$ 2,688,741$ 4,086,600$ 21,161,479$ 12,861,852$ 3,707,437$
Monthly Financial Report City of Renton, Washington April 2024
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 2023-2024 Adopted Budget.
Airport
Solid Waste
Utility Golf Course Water Utility
Wastewater
Utility Metro
Surface Water
Utility
REVENUES:
Licenses and permits -$ -$ -$ -$ 38,604$ -$ 9,375$
Grants / intergovernmental 272,008 10,804 - 121,824 - - 602,186
Charges for services 1,525,969 8,063,569 775,526 5,383,924 4,082,298 6,876,863 4,637,757
Rents, leases, and misc fees - - 111,646 69,865 - - -
Interest and other misc 146,958 80,693 28,153 1,432,519 887,984 82,642 548,017
TOTAL REVENUES 1,944,935 8,155,066 915,325 7,008,132 5,008,886 6,959,505 5,797,335
EXPENSES:
Personnel 393,033 206,427 582,966 1,751,702 891,176 - 1,251,612
Supplies 34,778 4,591 141,555 272,022 26,677 - 35,538
Contracted Services 206,113 8,489,685 72,138 928,169 819,057 7,090,721 501,281
Internal Services 114,387 135,978 120,100 754,480 527,130 - 761,149
TOTAL OPERATING EXPENSES 748,311 8,836,681 916,759 3,706,373 2,264,040 7,090,721 2,549,580
CAPITAL, AND TRANSFERS 1,196,624 (681,615) (1,434) 3,301,759 2,744,846 (131,216) 3,247,755
DEBT SERVICE:
Principal - - 14,944 - - - -
Interest - - 461 - - - -
TOTAL DEBT SERVICE - - 15,405 - - - -
CAPITAL OUTLAY 536,210 - - 1,120,995 1,546,879 - 5,773,221
Transfers In - - 41,250 - - - -
Transfers Out - - (41,250) - (1,242) - 596
NET TRANSFERS - - - - (1,242) - 596
CHANGE IN FUND BALANCE 660,414 (681,615) (16,839) 2,180,764 1,196,725 (131,216) (2,524,870)
BEGINNING FUND BALANCE, Jan 1 11,276,837 3,928,543 1,884,908 52,071,465 26,162,847 6,589,443 29,287,067
ENDING FUND BALANCE, Apr 30 11,937,251$ 3,246,928$ 1,868,069$ 54,252,229$ 27,359,572$ 6,458,227$ 26,762,197$
Restricted for Debt Service - - - 1,394,051 661,227 - 754,868
Operating Reserve 264,613 400,000 753,443 1,746,736 1,028,679 380,000 1,272,184
AVAILABLE FUND BALANCE 11,672,638$ 2,846,928$ 1,114,626$ 51,111,442$ 25,669,666$ 6,078,227$ 24,735,145$
Monthly Financial Report City of Renton, Washington April 2024
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 -$ -$ 65,172$ -$ -$ -$ -$
Equipment rental m&o 865,320 - 1,884,360 - - - -
Interest and other misc 233,253 308,123 111,469 11,403 7,635 120,963 257,777
Internal service fund misc:
Worker's comp/unemployment - 616,595 - - - - -
Benefit premiums - - - - - 4,583,425 187,500
Other misc 269 4,502 - 22,901 - 224,199 71,331
Insurance recoveries 24,426 46,117 - - - 2,194 -
TOTAL REVENUES 1,924,915 1,703,444 2,061,001 1,799,349 423,577 4,930,781 516,608
EXPENSES:
Personnel 393,981 447,715 1,195,474 1,263,673 329,768 3,986,117 416,027
Supplies 491,739 - 243,399 193,619 12,566 1,825 -
Contracted Services 161,850 1,198,325 1,062,404 690,316 75,401 189,006 18,189
Internal Services 33,817 - 1,674 69,850 1,203 28,515 -
TOTAL OPERATING EXPENSES 1,081,387 1,646,040 2,502,951 2,217,458 418,938 4,205,463 434,216
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 843,528 57,404 (441,950) (418,109) 4,639 725,318 82,392
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 772,970 - 790,499 1,065 - - -
Transfers In - - 2,407 - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - 2,407 - - - -
CHANGE IN FUND BALANCE 70,558 57,404 (1,230,042) (419,174) 4,639 725,318 82,392
BEGINNING FUND BALANCE, Jan 1 18,278,075 24,691,220 9,416,600 1,046,533 641,437 8,946,970 20,320,818
ENDING FUND BALANCE, Apr 30 18,348,633$ 24,748,624$ 8,186,558$ 627,359$ 646,076$ 9,672,288$ 20,403,210$
Insurance Reserves - 17,786,508 - - - 4,920,868 20,403,210
Opearting Reserves 18,348,633 - 2,326,091 - - - -
AVAILABLE FUND BALANCE -$ 6,962,116$ 5,860,467$ 627,359$ 646,076$ 4,751,420$ -$
Monthly Financial Report City of Renton, Washington April 2024
Page 6 of 7
FIDUCIARY FUNDS
Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use
as they are not City assets. The table below displays year-to-date revenues and expenditures of the City’s fiduciary funds.
Firemens' Pension Custodial Fund
REVENUES:
Intergovernmental -$ -$
Investment Earnings 111,737 -
Collected for Others - 1,349,560
TOTAL REVENUES 111,737 1,349,560
EXPENDITURES:
Contracted Services - -
Distributions to Others 92,234 564,857
TOTAL EXPENDITURES 92,234 564,857
NET TRANSFERS - -
CHANGE IN FUND BALANCE 19,503 784,703
BEGINNING FUND BALANCE, Jan 1 9,253,302 -
ENDING FUND BALANCE, Apr 30 9,272,805$ 784,703$
Monthly Financial Report City of Renton, Washington April 2024
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 April 30, 2024
Funds
Balance
01/01/2024
Budgeted
Revenue
Revenue
04/30/24
Total Funds
Available
Budgeted
Expenditure
Expenditure
04/30/24 Ending Balance
GENERAL FUND 99,226,476 136,416,850 54,467,175 153,693,651 147,189,862 38,438,129 115,255,522
SPECIAL REVENUE FUNDS:13,672,076 4,830,685 1,911,245 15,583,321 2,613,179 475,363 15,107,958
110 Hotel Motel 889,272 469,000 167,852 1,057,124 465,000 73,909 983,215
127 Cable Communication 358,300 57,674 28,863 387,163 97,674 17,421 369,742
130 Housing and Supportive Services 10,811,847 3,500,000 1,625,006 12,436,853 309,000 119,969 12,316,884
135 Springbrook Wetlands Bank 711,118 4,011 13,198 724,316 40,000 3,045 721,271
140 Police Seizure 731,928 - 9,557 741,485 731,928 185,302 556,183
141 Police CSAM Seizure 169,577 - 3,450 173,027 169,577 40,322 132,705
31X School District Impact Mitigation 34 600,000 48,493 48,527 600,000 26,385 22,142
304 Fire Mitigation - 200,000 14,826 14,826 200,000 9,010 5,816
DEBT SERVICE FUND 5,412,174 3,153,417 85,032 5,497,206 2,960,690 17,308 5,479,898
CAPITAL PROJECT FUNDS (CIP):48,717,832 56,331,332 6,536,976 55,254,808 80,563,016 7,429,660 47,825,148
303 Community Services Mitigation 681,333 86,500 58,023 739,356 450,000 - 739,356
305 Transportation Mitigation 2,220,270 511,152 359,413 2,579,683 100,000 - 2,579,683
308 REET1 1,765,153 2,300,000 923,588 2,688,741 - - 2,688,741
309 REET2 3,145,503 2,300,000 941,097 4,086,600 4,183,425 - 4,086,600
316 Municipal Facilities CIP 21,980,020 17,395,113 1,063,811 23,043,831 30,831,788 1,882,352 21,161,479
317 Transportation CIP 15,282,117 33,738,567 3,127,043 18,409,160 44,997,803 5,547,308 12,861,852
346 New Family First Center Dvlpmnt 3,643,436 - 64,001 3,707,437 - - 3,707,437
ENTERPRISE FUNDS:131,201,110 128,170,060 35,830,434 167,031,544 198,819,991 35,147,071 131,884,473
4X2 Airport Operating & CIP 11,276,837 6,131,870 1,944,935 13,221,772 10,129,689 1,284,521 11,937,251
403 Solid Waste Utility 3,928,543 26,151,679 8,155,066 12,083,609 27,045,563 8,836,681 3,246,928
4X4 Golf Operating & CIP 1,884,908 3,817,125 956,575 2,841,483 3,777,211 973,414 1,868,069
4X5 Water Operating & CIP 52,071,465 20,149,300 7,008,132 59,079,597 52,590,012 4,827,368 54,252,229
4X6 Waste Water Operating & CIP 26,162,847 12,484,987 5,008,886 31,171,733 29,382,722 3,812,161 27,359,572
416 King County Metro 6,589,443 21,791,462 6,959,505 13,548,948 21,791,462 7,090,721 6,458,227
4X7 Surface Water Operating & CIP 29,287,067 37,643,637 5,797,335 35,084,402 54,103,332 8,322,205 26,762,197
INTERNAL SERVICE FUNDS:83,341,653 48,848,633 13,362,082 96,703,735 61,446,986 14,070,987 82,632,748
501 Equipment Repair/Replacement 18,278,075 6,974,821 1,924,915 20,202,990 11,857,837 1,854,357 18,348,633
502 Insurance 24,691,220 5,160,048 1,703,444 26,394,664 7,889,192 1,646,040 24,748,624
503 Information Services 9,416,600 9,545,740 2,063,408 11,480,008 14,766,071 3,293,450 8,186,558
504 Facilities 1,046,533 7,181,239 1,799,349 2,845,882 7,229,646 2,218,523 627,359
505 Communications 641,437 1,664,767 423,577 1,065,014 1,822,460 418,938 646,076
512 Insurance, Healthcare 8,946,970 17,362,018 4,930,781 13,877,751 16,402,893 4,205,463 9,672,288
522 Insurance, Leoff1 Retirees HC 20,320,818 960,000 516,608 20,837,426 1,478,887 434,216 20,403,210
FIDUCIARY FUNDS:9,253,302 200,000 1,461,297 10,714,599 244,475 657,091 10,057,508
611 Firemens' Pension 9,253,302 200,000 111,737 9,365,039 244,475 92,234 9,272,805
630 Custodial Fund - - 1,349,560 1,349,560 - 564,857 784,703
TOTAL FUNDS 390,824,623 377,950,977 113,654,241 504,478,864 493,838,199 96,235,609 408,243,255