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HomeMy WebLinkAbout201902, February h:\finance\financial reporting\monthly reports\2019 reports\cover 2 19_hn.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: August 22, 2019    TO: Don Persson, Council President  Members of Renton City Council     CC: Denis Law, Mayor  Bob Harrison, Chief Administrative Officer     FROM: Jan Hawn, ASD Administrator     STAFF CONTACT: Hai Nguyen, Sr. Finance Analyst     SUBJECT: February 2019 Financial Status Report       At the end of February, general governmental revenues show $2.4M or 16.8% over  budget.  Revenue source(s) that are higher than expected are: sales tax ($244K); business  & occupation taxes ($938K); interest & other earnings ($107K); fines and penalties  ($136K); real estate excise tax ($644K); business licensing ($348K); and other  miscellaneous ($257K). On the down side, the revenue source(s) that are  underperforming the year to date budget are: utility taxes ($314K).    General government expenditures showed an unfavorable variance of $153K or 1%.  See  page 11 of report for further expenditure over‐spent/savings explanations.    The attached report provides more detailed discussion of each revenue source and our  updated projections for the year.  Please do not hesitate to contact me at x6952 should  you have any questions or any suggestions about the report.        Don Persson, Council President  Members of Renton City Council  Page 2 of 2  August 22, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 2 19_hn.docx  This page is intentionally left blank      $% Beginning Fund Balance 26,563,785$     26,563,785$    33,284,838$       33,284,838$      32,466,212$    32,466,212$ 46,198,341$   13,732,129     42.3% OPERATING REVENUES Property Tax 24,356,562        250,761               19,463,461          93,620                   20,885,254       164,137            232,096             67,959               41.4% Sales  Tax 26,331,634        4,566,536          28,428,635          5,056,993            27,684,069       4,775,038       5,018,980         243,941            5.1% Sales  Tax ‐ Annexation Credit/LRF 3,123,230           540,877               1,619,553             600,038                 ‐                           ‐                        ‐                         ‐                        0.0% Criminal Justice Sales  Tax 2,808,564           483,778               3,091,020             528,481                2,886,744          495,312            566,589             71,277               14.4% Natural Gas  Use Tax 180,456                38,784                  141,408                  32,007                   180,000               40,743               59,711                18,969               46.6% Admission Tax 223,157                63,529                  225,466                  58,071                   250,000               67,762               48,790                (18,973)              ‐28.0% Franchise  Fees 1,562,100           387,170               1,508,915             388,058                1,526,500          385,340            379,202             (6,138)                 ‐1.6% Electricity Tax 5,721,366           1,119,319          5,592,795             751,918                5,559,113          919,416            1,009,948         90,532               9.8% Natural Gas  Utility Tax 1,630,375           474,022               1,446,693             761,135                1,400,000          561,970            333,824             (228,146)           ‐40.6% Garbage/Solid Waste 627,254                96,335                  743,003                  112,897                680,000               103,833            56,464                (47,369)              ‐45.6% TV Cable 1,651,405           240,964               1,525,625             233,140                1,678,736          250,515            89,515                (161,000)           ‐64.3% Telephone 866,519                161,207               830,975                  127,651                692,674               117,870            162,251             44,380               37.7% Cellular Phone 1,481,298           298,767               1,159,489             200,307                1,551,630          293,237            104,943             (188,295)           ‐64.2% City Utilities 4,840,530           629,913               4,925,046             794,302                4,500,000          656,282            812,775             156,493            23.8% Utility Tax Audit ‐                            ‐                           ‐                              ‐                            ‐                           ‐                        ‐                         ‐                        0.0% Leasehold Excise  Tax 173,396                9,086                     189,427                  8,262                      179,000               8,559                  39,792                31,233               364.9% Gambling Excise  Tax 2,695,368           421,158               2,831,045             466,214                2,000,000          321,138            327,930             6,791                  2.1% Real Estate Excise  Tax 2,115,480           1,365,480          4,601,451             1,206,327            4,000,000          324,497            968,149             643,652            198.4% Less: CIP REET (1,365,480)          (1,365,480)         (1,206,327)            (1,206,327)          (1,373,000)         (324,497)          (342,112)            (17,615)              5.4% EMS Levy ‐                            ‐                           ‐                              ‐                            ‐                           ‐                        ‐                         ‐                        0.0% B&O Taxes 9,633,034           1,226,412          10,689,216          2,315,204            8,000,000          1,749,555       2,237,162         487,607            27.9% Less: CIP B&O Taxes (2,473,974)          ‐                           (1,379,314)            ‐                            (2,000,000)         (450,000)          ‐                         450,000            ‐100.0% Business License Fees 1,480,730           386,774               1,037,650             783,400                695,455               281,230            629,497             348,267            123.8% Less: CIP Business License Fees (614,796)              (220,070)             (356,629)                (324,542)               ‐                           ‐                        ‐                         ‐                        0.0% Animal  Licenses and Spec Events  Permits 140,391                15,680                  119,901                  25,989                   94,174                  15,740               20,569                4,829                  30.7% Building Permits & Development Svc Fees 4,907,983           676,844               4,650,227             595,371                5,223,637          693,098            715,207             22,109               3.2% Intergovt'l (Grants, State  Shared, etc) 4,285,806           538,686               4,232,288             534,397                3,823,847          585,759            599,577             13,818               2.4% Fire District 25 and 40 Contracts 341,939                170,969               357,660                  178,830                372,059               186,030            186,030             ‐                        0.0% Public Safety 837,728                133,129               1,208,422             285,821                837,835               171,547            201,244             29,698               17.3% Culture and Recreation 1,722,323           190,802               1,509,375             190,083                1,829,714          215,648            144,864             (70,784)              ‐32.8% Interfund/Interdept‐Services 3,916,334           650,626               3,900,407             686,144                4,431,371          738,562            696,065             (42,497)              ‐5.8% Fines  and Penalties 822,450                72,761                  810,152                  74,998                   827,782               72,939               59,699                (13,240)              ‐18.2% Photo Enforcement 2,124,399           279,252               3,463,040             291,441                3,431,405          350,479            499,836             149,357            42.6% Seizure  Funds  ‐ Federal/State/Local 176,503                101,790               349,134                  16,733                   ‐                           ‐                        17,646                17,646               100.0% Interests and Other Earnings 1,155,371           124,243               1,189,995             157,830                830,000               99,823               206,751             106,928            107.1% Rents, Leases, and Concessions 634,897                175,373               673,666                  181,351                572,695               156,121            193,678             37,557               24.1% Contributions and Donations 177,919                23,095                  197,221                  5                                 125,204               7,710                  84,673                76,963               998.3% Other Miscellaneous 954,680                144,348               708,728                  129,254                748,987               123,773            380,657             256,884            207.5% Other Financing Sources  (Transfer ‐In, etc) 283,213                ‐                           (139,213)                13,000                   1,028,576          171,429            ‐                         (171,429)           ‐100.0% Total Operating Revenues 109,530,146     14,472,917       110,339,607       16,348,402         105,153,461    14,330,594    16,742,001      2,411,406        16.8% OPERATING EXPENDITURES Council 362,101                64,877                  377,512                  68,247                   414,410               74,590               66,632                7,958                  10.7% Executive 1,954,748           350,285               2,073,371             370,213                2,302,698          411,877            441,585             (29,708)              ‐7.2% Emergency Management 569,333                75,996                  590,655                  92,381                   645,858               93,749               86,612                7,138                  7.6% City Attorney 2,088,718           333,751               2,216,692             359,168                2,393,230          385,170            384,693             478                       0.1% Court Services 2,174,217           343,353               2,222,633             371,810                2,646,159          430,407            395,692             34,715               8.1% Community and Eco Dvlpmnt Admin 1,351,830           219,758               1,347,568             223,634                1,507,929          247,686            237,244             10,443               4.2% Development Services 3,023,728           501,405               3,032,130             474,218                3,473,019          559,517            513,162             46,355               8.3% Economic Development 949,467                98,329                  833,055                  142,952                1,363,153          184,516            127,984             56,531               30.6% Planning 2,815,148           449,900               3,022,122             479,452                3,434,856          546,863            521,462             25,401               4.6% Finance 3,132,609           425,531               3,427,262             446,774                3,591,794          477,623            439,988             37,635               7.9% City Clerk 1,119,376           322,088               1,274,941             154,002                1,341,087          266,664            397,405             (130,741)           ‐49.0% Human Resources 1,221,841           175,377               1,268,733             196,272                1,506,283          224,771            215,419             9,352                  4.2% Police 30,987,047        4,799,880          33,764,563          5,118,038            35,629,655       5,457,641       5,698,452         (240,811)           ‐4.4% Jail Services 4,807,443           801,089               5,970,673             994,735                6,239,267          960,996            960,996             ‐                        0.0% Community Services  Admin 554,951                84,711                  510,454                  85,085                   528,906               84,293               91,839                (7,547)                 ‐9.0% Parks & Trails 4,926,587           640,180               5,026,203             663,993                5,414,681          711,672            749,539             (37,866)              ‐5.3% Parks Planning & Natural Resources 1,059,058           140,186               1,114,153             124,297                1,201,760          146,256            122,397             23,859               16.3% Recreation & Neighborhoods 6,152,644           845,607               6,280,121             897,249                6,239,574          878,681            840,614             38,067               4.3% Human Services 1,634,387           170,784               1,421,280             184,247                1,363,310          158,400            149,381             9,019                  5.7% Museum 235,712                39,555                  245,590                  40,634                   252,298               42,035               41,883                151                       0.4% Public Works Admin 406,781                67,352                  417,786                  69,361                   425,954               70,623               70,681                (58)                         ‐0.1% Street Maintenance 5,603,141           920,483               5,676,989             859,296                5,894,373          930,014            931,843             (1,829)                 ‐0.2% Transportation 5,368,887           694,002               5,550,779             818,473                6,194,559          858,004            869,666             (11,662)              ‐1.4% Debt Service 6,063,576           291,694               5,696,184             288,313                6,793,668          284,932            284,932             ‐                        0.0% Non‐Departmental and Other 14,245,763        531,962               4,064,656             560,003                6,212,181          560,522            560,522             ‐                        0.0% Total  Operating Expenditures 102,809,093     13,388,134       97,426,104          14,082,847         107,010,663    15,047,502    15,200,621      (153,119)           ‐1.0% Total Ending Fund Balance 33,284,838$     27,648,568$    46,198,341$       35,550,393$      30,609,010$    31,749,304$ 47,739,721$   15,990,416$  50.4% Summary of Sources and Uses Annual Actual YTD Actual Favorable (Unfavorable)Annual Actual YTD Actual Annual Budget YTD Budget YTD Actual   Monthly Financial Report February 2019 City of Renton, Washington Page 1 of 15 Monthly Financial Report February 2019      OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through February 28, 2019.  Except as  noted, year‐to‐date budgeted revenues and operating expenditures are generally based on the collection/disbursement  patterns for the same period of the preceding two years.  The table on the previous page summarizes the general  governmental fund revenues and expenditures.    Revenues    Taxes   The combined collection of property, sales/use, utility, gambling, admissions, real estate excise, and business & occupation  taxes represents 69% of all resources supporting general governmental activities.   The following section provides detail  information on property, sales, utility, and other taxes.      Property Tax    Current Month Actual: $192K  YTD Actual: $232K  Budgeted YTD: $164K  Prior Year Same Month: $106K  Prior Year YTD: $94K  Year‐to‐Year Variance: $138K,  148%  Actual‐to‐Budget YTD Variance:  $68K, 41%                Sales Tax    Current Month Actual: $2.8M  YTD Actual: $5M  Budgeted YTD: $4.8M  Prior Year Same Month: $2.8M  Prior Year YTD: $5.1M  Year‐to‐Year Monthly Variance:  ‐$81K, ‐3%  Year‐to‐Year YTD Variance:             ‐$38K, ‐1%  Actual‐to‐Budget Monthly  Variance: $156K, 6%  Actual‐to‐Budget YTD Variance:  $244K, 5%    New Construction and Service  are the sectors generating and collecting more than anticipated.  The City is projecting sales tax revenues to be $27.9M by  the end of the year.  2019’s monthly budgets are generally based on 2014 through 2018 collections.  2018 2019 2019 Actual Budget Actual $ % $ % Jan (12,745)$           20,344$            39,879$            52,624$             ‐413% 19,535$            96% Feb 106,364            143,793            192,217            85,853               81% 48,425               34% Mar 665,471            747,539             Apr 6,908,633        6,645,895         May 2,419,925        3,293,120         Jun 108,842            113,280             Jul 90,072               76,102                Aug 84,185               88,428                Sep 196,536            304,667             Oct 7,077,878        5,307,469         Nov 1,742,104        4,039,744         Dec 76,196               104,875             YTD  Total 93,620$            164,137$         232,096$         138,477$         148% 67,959$            41% Annual  Total 19,463,461$  20,885,254$   Property Tax  Revenues Year  to Date through February 2019 vs. 2018 2019 vs. Budget Month 2018 2019 2019 Actual Budget Actual $ % $ % Jan 2,217,949$     2,172,405$     2,260,685$     42,736$            2% 88,280$            4% Feb 2,839,044        2,602,634        2,758,295        (80,749)               ‐3% 155,661            6% Mar 2,099,180        2,064,301         ‐                         Apr 2,009,648        2,008,608        ‐                         May 2,506,478        2,429,497        ‐                         Jun 1,997,751        2,105,242        ‐                         Jul 2,385,665        2,245,590        ‐                         Aug 2,573,863        2,475,019        ‐                         Sep 2,671,784        2,358,468        ‐                         Oct 2,438,390        2,413,738        ‐                         Nov 2,385,700        2,491,359        ‐                         Dec 2,303,183        2,317,209        ‐                         YTD  Total 5,056,993$     4,775,038$     5,018,980$     (38,013)$           ‐1% 243,941$         5% Annual  Total 28,428,635$  27,684,069$   2019 vs. Budget2019 vs. 2018 Month Year to Date through February Local Retail Sales  Tax  Revenues City of Renton, Washington Page 2 of 15 Monthly Financial Report February 2019      The following table breaks out the City’s base sales tax (excluding Criminal Justice and Annexation Credit) by major business  sectors:  Sales  Tax  by Sector 2018 2019 Bgt YTD Act Change 2019/2018 2019 Act  vs  Bgt New Construction 734,464$         624,119$         739,036$         4,572$                1%$        114,917 18% Auto  Sales 883,610            863,294            856,629            (26,981)               ‐3%               (6,665)‐1% General  Retail 1,489,139        1,501,318        1,509,964        20,826                1%                 8,646 1% Manufacturing 364,849            365,577            378,028            13,179                4%              12,451 3% Wholesale 255,399            232,484            231,674            (23,726)               ‐9%                    (810) 0% Service 1,218,266        1,070,234        1,192,300        (25,967)               ‐2%           122,066 11% Other 111,265            118,012            111,349            84                          0%               (6,663)‐6% YTD  Total 5,056,993$     4,775,038$     5,018,980$     (38,013)$           ‐1%243,941$        5% Note: Excludes  Annexation Credit and Criminal Justice Sales  Tax revenue.       Utility tax     Current Month Actual: $1.4M  YTD Actual: $2.6M  Budgeted YTD: $2.9M  Prior Year Same Month: $1.6M  Prior Year YTD: $3M  Year‐to‐Year Monthly Variance:  ‐$245K, ‐15%  Year‐to‐Year YTD Variance:             ‐$384K, ‐13%  Actual‐to‐Budget Monthly  Variance: ‐$57K, ‐4%  Actual‐to‐Budget YTD Variance:  ‐$314K, ‐11%    The large variance with budget  and prior year is mainly due to lower natural gas activity, 1‐month lag for cable utility, and lower taxable reported activity  for Cellular.  The cable utility 1‐month lag should be corrected in April.  The City is projecting utility tax revenues to be  about $15M by the end of the year.  The monthly budgets are based on 2017/2018 activity.  The table below breaks out  Utility Tax by source.    Utility Tax  by Type 2018 2019 Bgt YTD Act Change 2019/2018  2019 Act  vs  Bgt  Electrical 751,918$         919,416$         1,009,948$     258,030$          34%$           90,532 10% Natural  Gas 793,143            602,713            393,535            (399,608)            ‐50%         (209,178)‐35% Cell 200,307            293,237            104,943            (95,364)               ‐48%         (188,295)‐64% Phone 127,651            117,870            162,251            34,599                27%              44,380 38% Cable 233,140            250,515            89,515               (143,624)            ‐62%         (161,000)‐64% Garbage/Solid Waste 112,897            103,833            56,464               (56,434)               ‐50%            (47,369)‐46% City Utilities 794,302            656,282            812,775            18,473                2%           156,493 24% Utility Tax  Audit ‐                              ‐                              ‐                              ‐                               N/A                              ‐ N/A YTD Total 3,013,358$     2,943,866$     2,629,431$     (383,928)$        ‐13%(314,436)$       ‐11% Annual Total 16,365,034$  16,242,153$   YTD as % of 18% 18%      2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,395,386$     1,514,363$     1,256,646$     (138,740)$         ‐10% (257,717)$         ‐17% Feb 1,617,972        1,429,503        1,372,784        (245,188)            ‐15% (56,719)               ‐4% Mar 1,579,191        1,362,194         Apr 1,463,336        1,583,918         May 1,414,956        1,405,448         Jun 1,269,602        1,282,448         Jul 1,398,960        1,415,513         Aug 1,203,168        1,166,791         Sep 1,197,617        1,195,903         Oct 1,292,218        1,336,595         Nov 1,083,283        1,141,066         Dec 1,449,344        1,408,409         YTD  Total 3,013,358$     2,943,866$     2,629,431$     (383,928)$        ‐13% (314,436)$        ‐11% Annual  Total 16,365,034$  16,242,153$   2019 vs. Budget2019 vs . 2018 Year to Date through February Utility Tax  Revenues Month City of Renton, Washington Page 3 of 15 Monthly Financial Report February 2019      Other Taxes     Real Estate Excise Tax    Current Month Actual: $220K  YTD Actual: $968K  Budgeted YTD: $324K  Prior Year Same Month: $366K  Prior Year YTD: $1.2M  Year‐to‐Year Monthly Variance:  ‐$146K, ‐40%  Year‐to‐Year YTD Variance:             ‐$238K, ‐20%  Actual‐to‐Budget Monthly  Variance: $131K, 148%  Actual‐to‐Budget YTD Variance:  $644K, 198%    REET collections year‐to‐date  are behind 2018 figures but  much higher than budgeted expectations.  The City is projecting REET to be about $4M at the end of the year.        Gambling Tax    Current Month Actual: $245K  YTD Actual: $328K  Budgeted YTD: $321K  Prior Year Same Month: $255K  Prior Year YTD: $466K  Year‐to‐Year Monthly Variance:  ‐$11K, ‐4%  Year‐to‐Year YTD Variance:             ‐$138K, ‐30%  Actual‐to‐Budget Monthly  Variance: $80K, 48%  Actual‐to‐Budget YTD Variance:  $7K, 2%    Gambling tax revenue is behind  2018 but is slightly above budget.  The City is projecting gambling tax revenues to be about $2M at the end of the year.       2018 2019 2019 Actual Budget Actual $ % $ % Jan 840,316$         235,792$         748,462$         (91,854)$            ‐11% 512,671$         217% Feb 366,011            88,705               219,686            (146,325)            ‐40% 130,981            148% Mar 291,045            126,164             Apr 405,746            99,837                May 607,431            125,357             Jun 496,917            157,020             Jul 846,631            181,410             Aug 406,944            136,185             Sep 451,349            285,331             Oct 1,716,905        1,133,509         Nov 976,580            716,731             Dec 409,249            713,958             YTD  Total 1,206,327$     324,497$         968,149$         (238,179)$        ‐20% 643,652$         198% Annual  Total 7,815,124$     4,000,000$      *Total REET (GF & CIP) Real Estate Excise  Tax  (REET) Revenues* Year to Date through February Month 2019 vs. Budget2019 vs. 2018 2018 2019 2019 Actual Budget Actual $ % $ % Jan 210,929$         156,146$         83,278$            (127,651)$         ‐61% (72,869)$            ‐47% Feb 255,285            164,992            244,652            (10,633)               ‐4% 79,660               48% Mar 245,283            154,213             ‐                         Apr 275,795            179,219            ‐                         May 222,540            170,531            ‐                         Jun 252,663            175,721            ‐                         Jul 255,351            175,771            ‐                         Aug 226,388            160,458            ‐                         Sep 75,748               101,653            ‐                         Oct 222,034            158,206            ‐                         Nov 228,862            176,826            ‐                         Dec 360,166            226,264            ‐                         YTD  Total 466,214$         321,138$         327,930$         (138,284)$        ‐30% 6,791$               2% Annual  Total 2,831,045$     2,000,000$      Gambling Tax  Revenue Month Year to Date through February 2019 vs. Budget2019 vs. 2018 City of Renton, Washington Page 4 of 15 Monthly Financial Report February 2019      Franchise Fees    Current Month Actual: $343K  YTD Actual: $379K  Budgeted YTD: $385K  Prior Year Same Month: $17K  Prior Year YTD: $388K  Year‐to‐Year Monthly  Variance: $326K, 1965%  Year‐to‐Year YTD Variance:          ‐$9K, ‐2%  Actual‐to‐Budget Monthly  Variance: $331K, 2912%  Actual‐to‐Budget YTD  Variance: ‐$6K, ‐2%    The timing of when 2018 4th quarter activity was receipted (usually January) is why the 2 months are skewed.  The City is  projecting franchise fees to be a about $1.5M at the end of the year.      Admission Tax     Current Month Actual: $49K  YTD Actual: $49K  Budgeted YTD: $68K  Prior Year Same Month: $1K  Prior Year YTD: $58K  Year‐to‐Year YTD Variance:          ‐$9K, ‐16%  Actual‐to‐Budget YTD  Variance: ‐$19K, ‐28%    The City is projecting  admissions tax revenues to be  around $180K by the end of  the year.      Business & Occupation Tax    Current Month Actual: $1.3M  YTD Actual: $2.2M  Budgeted YTD: $1.7M  Prior Year Same Month: $1M  Prior Year YTD: $2.3M  Year‐to‐Year Monthly  Variance: $304K, 30%  Year‐to‐Year YTD Variance:          ‐$78K, ‐3%  Actual‐to‐Budget Monthly  Variance: $699K, 113%  Actual‐to‐Budget YTD  Variance: $488K, 28%    2018 2019 2019 Actual Budget Actual $ % $ % Jan 371,458$         373,958$         36,388$            (335,070)$         ‐90% (337,569)$         ‐90% Feb 16,600               11,383               342,814            326,214            1965% 331,431            2912% Mar 15,792               12,373               ‐                         Apr 37,420               202,329            ‐                         May 340,622            173,133            ‐                         Jun 1,050                  11,122               ‐                         Jul 344,386            341,360            ‐                         Aug 15,193               11,379               ‐                         Sep ‐                        4,349                  ‐                         Oct 346,194            358,545            ‐                         Nov 11,200               10,786               ‐                         Dec 9,000                  15,782               ‐                         YTD  Total 388,058$         385,340$         379,202$         (8,856)$               ‐2% (6,138)$               ‐2% Annual Total 1,508,915$     1,526,500$      Month 2019 vs. 2018 2019 vs. Budget Franchise  Fees  Revenue Year  to Date through February 2018 2019 2019 Actual Budget Actual $ % $ % Jan 56,598$            65,388$            8$                          (56,590)$            ‐100% (65,380)$            ‐100% Feb 1,473                  2,374                  48,782               47,309               3212% 46,407               1954% Mar 112                       62                          ‐                         Apr 54,560               63,040               ‐                         May 1,911                  1,778                  ‐                         Jun ‐                        438                       ‐                         Jul ‐                        28,454               ‐                         Aug 62,959               35,964               ‐                         Sep ‐                        ‐                        ‐                         Oct 46,297               26,750               ‐                         Nov 1,556                  867                       ‐                         Dec ‐                        24,884               ‐                         YTD  Total 58,071$            67,762$            48,790$            (9,281)$               ‐16% (18,973)$            ‐28% Annual Total 225,466$         250,000$          2019 vs. Budget Admission Tax Revenue Year  to Date through February Month 2019 vs. 2018 2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,301,574$     1,130,591$     919,391$         (382,183)$         ‐29% (211,200)$         ‐19% Feb 1,013,630        618,964            1,317,771        304,141            30% 698,807            113% Mar 48,278               77,099                ‐                         Apr 5,430,049        3,447,959        ‐                         May 212,741            169,415            ‐                         Jun 172,687            146,931            ‐                         Jul 840,839            871,974            ‐                         Aug 451,217            303,274            ‐                         Sep 12,193               56,844               ‐                         Oct 572,637            721,429            ‐                         Nov 632,346            404,944            ‐                         Dec 1,026                  50,576               ‐                         YTD  Total 2,315,204$     1,749,555$     2,237,162$     (78,042)$           ‐3% 487,607$         28% Annual Total 10,689,216$  8,000,000$      *Total Business & Occupation Taxes (GF & CIP) Business & Occupation Taxes  (B&O)* Year  to Date through February Month 2019 vs. 2018 2019 vs. Budget City of Renton, Washington Page 5 of 15 Monthly Financial Report February 2019      The City is projecting B&O taxes to be around $10M by the end of the year.        Licenses and Permits    Business Licenses    Current Month Actual: $348K  YTD Actual: $629K  Budgeted YTD: $281K  Prior Year Same Month: $209K  Prior Year YTD: $783K  Year‐to‐Year Monthly Variance:  $139K, 67%  Year‐to‐Year YTD Variance:             ‐$154K, ‐20%  Actual‐to‐Budget Monthly  Variance: $256K, 278%  Actual‐to‐Budget YTD Variance:  $348K, 124%    The variance with the prior year  is mostly due to late filings and  payments associated with the business renewal process.   The City is projecting business license fees to be very close to  $900K by the end of the year.      Building Permits and  Development Service Fees    Current Month Actual: $398K  YTD Actual: $715K  Budgeted YTD: $693K  Prior Year Same Month: $281K  Prior Year YTD: $595K  Year‐to‐Year Monthly Variance:  $117K, 42%  Year‐to‐Year YTD Variance:             $120K, 20%  Actual‐to‐Budget Monthly  Variance: $93K, 31%  Actual‐to‐Budget YTD Variance:  $22K, 3%    The City is projecting building permits and development services fees to be $4.4M by the end of the year.      2018 2019 2019 Actual Budget Actual $ % $ % Jan 574,453$         189,046            281,106$         (293,347)$         ‐51% 92,060$            49% Feb 208,947            92,184               348,391            139,444            67% 256,207            278% Mar 41,777               27,476                ‐                         Apr 34,897               62,914                ‐                         May 33,623               51,500                ‐                         Jun 30,721               20,877                ‐                         Jul 16,354               64,859               ‐                         Aug 15,778               38,094               ‐                         Sep 8,889                  20,772               ‐                         Oct 10,260               57,560               ‐                         Nov 7,950                  29,374               ‐                         Dec 54,000               40,800               ‐                         YTD  Total 783,400$         281,230$         629,497$         (153,903)$        ‐20% 348,267$         124% Annual  Total 1,037,650$     695,455$          *Total Business License (GF & CIP) 2019 vs. 2018 Year to Date through February 2019 vs. Budget Business Licenses* Month 2018 2019 2019 Actual Budget Actual $ % $ % Jan 314,626$         388,426$         317,466$         2,839$               1% (70,960)$            ‐18% Feb 280,745            304,673            397,742            116,997            42% 93,069               31% Mar 588,527            598,844             Apr 403,892            365,844             May 436,943            544,326             Jun 363,521            532,521             Jul 484,920            410,225             Aug 411,236            463,122             Sep 342,301            431,287             Oct 453,317            430,456             Nov 297,467            423,510             Dec 272,733            330,035             YTD  Total 595,371$         693,098$         715,207$         119,836$         20% 22,109$            3% Annual  Total 4,650,227$     5,223,637$      Year  to Date through February 2019 vs. Budget2019 vs. 2018 Month Building Permits  and Development Service Fees City of Renton, Washington Page 6 of 15 Monthly Financial Report February 2019      Intergovernmental  These revenue  sources include  federal (direct and  indirect) grants, state  grants, state shared  revenues, local  grants, and  entitlements.  State  shared revenues 90%  of the total revenues  in this category. The year‐to‐date total Intergovernmental revenue is $1.4M or 19% of the budget.       State Shared  Revenues    YTD Total: $1M  Year‐to‐Year YTD  Variance: $36K, 4%  Actual‐to‐Budget YTD  Variance: $84K, 9%    The higher than  expected collection is  due to collecting  more than  anticipated Criminal  Justice’s Sales Tax.   The City is projecting state shared revenues to be $6.7M at the end of the year.      Charges for Services   These revenue sources consist of general government, public safety, plan review and inspection, culture and recreation, and  interfund/interdepartmental sales and services.  Recreation and interfund/interdepartmental sales and services constitute  51% of the total revenue in this category.  The year‐to‐date total charges for services are $1.6M or 18% of the budget.  The  following sections provide detail information for Public Safety, Recreation, and Interfund Services.      Public Safety Services    YTD Total: $201K  Year‐to‐Year YTD Variance:             ‐$85K, ‐30%  Actual‐to‐Budget YTD Variance:  $30K, 17%    The city is projecting public  safety service revenues to be  $1M by the end of the year.            Intergovernmental 2018 2019 Bgt YTD  Act Change 2019/2018  2019 Act  vs Bgt  Fire  District #25 ‐$                            ‐$                            ‐$                            ‐$                            N/A  $                          ‐ N/A Fire  District #40 178,830            186,030            186,030            7,200                   4%‐                            0% State  Shared Revenue 992,213            943,850            1,027,856        35,643                4% 84,006             9% Federal Grants ‐                              2,008                  2,940                  2,940                   100% 932                     46% State  Grants 15,271               15,471               15,471               200                       1%‐                            0% Other Grants/Intgovt 55,394               119,743            119,899            64,505                116% 156                     0% ARRA Grants ‐                              ‐                              ‐                              ‐                               N/A ‐                            N/A Total  Rev YTD 1,241,708$     1,267,101$     1,352,195$     110,488$          9%85,094$           7% Total  Rev Annual 7,680,968$     7,082,650$      YTD  %16% 18% 19% Note:  Includes CJ Sales  Tax  and FD25 & FD40 contracts 2018 2019 2019 Actual Budget Actual $ % $ % Crim Just Sales  Tax 528,481$         495,312$         566,589$         38,108$            7% 71,277$            14% Judicial Contribution 5,517                  2,815                  ‐                        (5,517)                 0% (2,815)                 0% Crim Just ‐ High Crime 68,269               67,343               74,000               5,731                  8% 6,658                  10% Crim Just ‐ Pop 7,278                  6,045                  7,593                  315                       4% 1,548                  26% Crim Just ‐ Spec  Prog 26,365               27,006               27,390               1,025                  4% 384                       1% State DUI 3,796                  4,459                  3,786                  (10)                        0% (673)                      ‐15% Marijuana  Distribution ‐                        ‐                        ‐                        ‐                        N/A ‐                        N/A Liquor Profits ‐                        ‐                        ‐                        ‐                        N/A ‐                        N/A Liquor Excise  Tax 119,489            113,426            128,697            9,208                  8% 15,271               13% Fuel Tax 233,018            227,445            219,801            (13,217)              ‐6% (7,644)                  ‐3% YTD Total 992,213$         943,850$         1,027,856$     35,643$            4% 84,006$            9% Annual  Total 6,710,599$     6,182,479$      State  Shared Revenues 2019 vs. 2018 Revenue Year  to Date through February 2019 vs. Budget 2018 2019 2019 Actual Budget Actual $ % $ % Jan 224,932$         118,482$         68,958$            (155,975)$         ‐69% (49,525)$            ‐42% Feb 60,888               53,065               132,287            71,398               117% 79,222               149% Mar 82,789               94,790                ‐                         Apr 58,572               49,125               ‐                         May 77,233               57,755               ‐                         Jun 84,800               52,483               ‐                         Jul 92,695               62,463               ‐                         Aug 50,236               44,366               ‐                         Sep 78,189               54,090               ‐                         Oct 187,194            97,966               ‐                         Nov 68,008               59,682               ‐                         Dec 142,886            93,569               ‐                         YTD Total 285,821$         171,547$         201,244$         (84,576)$            ‐30% 29,698$            17% Annual  Total 1,208,422$     837,835$          2019 vs. Budget Month 2019 vs. 2018 Year to Date through February Public Safety Services City of Renton, Washington Page 7 of 15 Monthly Financial Report February 2019      Recreation    Current Month Actual: $81K  YTD Total: $145K  Budgeted YTD: $216K  Prior Year Same Month: $52K  Prior Year YTD Total: $190K  Year‐to‐Year Monthly Variance:  $29K, 57%  Year‐to‐Year YTD Variance:             ‐$45K, ‐24%  Actual‐to‐Budget Monthly  Variance: $30K, 59%  Actual‐to‐Budget YTD Variance:  ‐$71K, ‐33%    The new recreation software,  PerfectMind, follows GAAP revenue recognition principles where revenue is not recognized until the service is performed,  whereas the previous software recognized all revenue at the date of the transaction.  As a result, actual revenue for 2019  will likely lag behind 2018 amounts as revenue for course programming will not fully be recognized until each session of the  program occurs.  The City is projecting recreation revenues to be under budget by the end of the year.      Interfund Services    YTD Total: $341K  Year‐to‐Year YTD Variance:  $10K, 1%  Actual‐to‐Budget YTD Variance:  ‐$42K, ‐6%    2019’s monthly budgets are  based on 1/12th of the annual  budget.  The majority of these  revenues are related to indirect  cost allocations, which are  internal administrative costs.   The remaining costs consist of  Development Services division’s  inspection fees, Parks Planning  and Natural Resources division’s capital investment program reimbursements, Transportation division’s capital investment  program reimbursements, and Maintenance division’s street maintenance reimbursements.  The City is projecting interfund  service revenues to be $4.2M at year‐end.        2018 2019 2019 Actual Budget Actual $ % $ % Jan 138,388$         164,609$         63,819$            (74,569)$            ‐54% (100,790)$        ‐61% Feb 51,694               51,039               81,045               29,351               57% 30,006               59% Mar 55,300               68,349               ‐                         Apr 70,321               82,168               ‐                         May 82,814               94,662               ‐                         Jun 191,108            194,998            ‐                         Jul 419,790            510,833            ‐                         Aug 313,627            394,016            ‐                         Sep 76,421               119,972            ‐                         Oct 72,092               68,624               ‐                         Nov 37,924               54,491               ‐                         Dec (104)                     25,954               ‐                         YTD Total 190,083$         215,648$         144,864$         (45,218)$            ‐24% (70,784)$            ‐33% Annual  Total 1,509,375$     1,829,714$      2019 vs. Budget2019 vs. 2018 Month Recreation Year to Date through February 2018 2019 2019 Actual Budget Actual $ % $ % Jan 341,804$         369,281$         355,266$         13,461$            4% (14,015)$            ‐4% Feb 344,339            369,281            340,799            (3,540)                  ‐1% (28,482)               ‐8% Mar 378,470            369,281             ‐                         Apr 332,894            369,281            ‐                         May 328,765            369,281            ‐                         Jun 320,735            369,281            ‐                         Jul 236,427            369,281            ‐                         Aug 313,949            369,281            ‐                         Sep 314,193            369,281            ‐                         Oct 330,901            369,281            ‐                         Nov 332,981            369,281            ‐                         Dec 324,948            369,281            ‐                         YTD Total 686,144$         738,562$         696,065$         9,921$               1% (42,497)$           ‐6% Annual  Total 3,900,407$     4,431,371$      2019 vs. Budget Month Interfund Services Year to Date through February 2019 vs. 2018 City of Renton, Washington Page 8 of 15 Monthly Financial Report February 2019      Fines and Penalties    YTD Total: $560K  Year‐to‐Year YTD Variance:  $193K, 53%  Actual‐to‐Budget YTD Variance:  $136K, 32%    These revenue sources contain  civil (penalties, infractions, and  parking), criminal (traffic, non‐ traffic, and costs), and non‐ court fines, forfeitures, and  penalties.  The table below  breaks down these fines by  type.  The City is projecting  fines and penalties to be close  to $5M by the end of the year.    Year  to Date through February 2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 173$                    297$                    156$                    (17)$                      ‐10% (141)$                   ‐47% Civil Infraction Penalties 32,004               29,268               23,231               (8,773)                  ‐27% (6,038)                  ‐21% Civil Parking Infraction Penalties 16,346               24,298               15,207               (1,139)                  ‐7% (9,090)                  ‐37% Photo Enforcement Program 291,441            350,479            499,836            208,395            72% 149,357            43% Criminal Traffic  Misdemeanor Fines 6,120                  6,392                  5,476                  (645)                      ‐11% (916)                      ‐14% Criminal Non‐Traffic  Fines 6,687                  3,259                  5,358                  (1,329)                  ‐20% 2,099                  64% Criminal Costs 8,843                  2,381                  6,322                  (2,522)                  ‐29% 3,940                  165% Non‐Court Fines, Forfeitures and Penalties 4,824                  7,043                  3,950                  (874)                      ‐18% (3,093)                  ‐44% YTD  Total 366,439$         423,418$         559,535$         193,096$         53% 136,117$         32% Annual Total 4,273,192$     4,259,187$      Revenue 2019 vs. Budget Fines  and Penalties by Type 2019 vs. 2018       Included in the Fines and Penalties annual  revenue budget is $3.4M from the Photo  Enforcement program.  The monthly budget  is based on the prior year’s revenue.  The  year‐to‐date collections from this program  equates to $500K.      The associated costs includes the equipment  provided by American Traffic Solutions, Inc.  (ATS), dedicated 2 FTE in the Court Services  Department to process the increased  caseload.  This staff time, along with a 50%  pro tem budget and interpreter costs  amounts to $334K for personnel costs.  The  total costs for the program equates to  $1.5M, which is represented in the table.        2018 2019 2019 Actual Budget Actual $ % $ % Jan 141,625$         167,472$         218,190$         76,565$            54% 50,718$            30% Feb 224,814            255,945            341,345            116,531            52% 85,400               33% Mar 312,111            301,071             Apr 137,934            219,704             May 230,762            272,663             Jun 235,311            308,687             Jul 451,443            415,323             Aug 624,200            543,712             Sep 461,645            408,916             Oct 582,058            513,022             Nov 465,852            419,837             Dec 405,436            432,834             YTD Total 366,439$         423,418$         559,535$         193,096$         53% 136,117$         32% Annual  Total 4,273,192$     4,259,187$      Month 2019 vs. Budget2019 vs . 2018 Year to Date through February Fines  and Penalties by Month Favorable 19 Budget 19 Actual 19  Budget 19 Actual (Unfavorable) 1 Jan 162,639$         214,193$         126,219$         28,745$            185,448$          Feb 187,840            285,643            126,219            128,014            157,629             Mar 199,988             ‐                        126,219            ‐                        ‐                         Apr 174,391            ‐                        126,219            ‐                        ‐                         May 212,936            ‐                        126,219            ‐                        ‐                         Jun 231,485            ‐                        126,219            ‐                        ‐                         Jul 349,711            ‐                        126,219            ‐                        ‐                         Aug 442,497            ‐                        126,219            ‐                        ‐                         Sep 341,229            ‐                        126,219            ‐                        ‐                         Oct 439,665            ‐                        126,219            ‐                        ‐                         Nov 354,895            ‐                        126,219            ‐                        ‐                         Dec 334,129            ‐                        126,219            ‐                        ‐                         YTD  Total 350,479$         499,836$         252,437$         156,759$         343,077$          Annual Total 3,431,405$     1,514,623$      1Actuals  of Revenues and Expenses Photo Enforcement Program Year  to Date through February Month Revenues Expenses City of Renton, Washington Page 9 of 15 Monthly Financial Report February 2019      Miscellaneous    YTD Total: $554K  Year‐to‐Year YTD Variance:  $140K, 34%  Actual‐to‐Budget YTD Variance:  $225K, 68%    This revenue source reflects the  collection of interest and other  earnings, rents, leases, and  concessions, contributions, and  donations from private sources,  and other miscellaneous  revenues.  The table below  shows the primary drivers of  the positive variances for each  month.    2018 2019 2019 Actual Budget Actual $ % $ % Interests  and Other Earnings 157,830$         99,823$            206,751$         48,921$            31% 106,928$         107% Rents, Leases, and Concessions 181,351            156,121            193,678            12,327               7% 37,557               24% Contributions/Donations  from  Private Sources 5                             7,710                  84,673               84,668               1693359% 76,963               998% Other 57,379               64,993               50,932               (6,448)                  ‐11% (14,061)               ‐22% Seizure  Funds  ‐ Federal/State/Local 16,733               ‐                        17,646               914                       5% 17,646               100% YTD  Total 413,298$         328,646$         553,679$         140,382$         34% 225,034$         68% Annual Total 2,666,594$     1,783,021$      2019 vs. Budget Miscellaneous  Revenues by Type Year  to Date through February Revenue 2019 vs. 2018   2018 2019 2019 Actual Budget Actual $ % $ % Jan 262,690$         224,703$         299,507$         36,817$            14% 74,804$            33% Feb 150,608            103,943            254,172            103,564            69% 150,229            145% Mar 178,170            123,607             Apr 152,700            120,552             May 386,715            114,422             Jun 193,674            145,727             Jul 221,279            166,400             Aug 275,725            175,899             Sep 164,873            123,283             Oct 200,817            125,071             Nov 174,068            111,834             Dec 305,276            247,581             YTD Total 413,298$         328,646$         553,679$         140,382$         34% 225,034$         68% Annual  Total 2,666,594$     1,783,021$      Year to Date through Fe bruary Month 2019 vs. Budget2019 vs. 2018 Miscellaneous Revenues  by Month City of Renton, Washington Page 10 of 15 Monthly Financial Report February 2019      EXPENSES  Overall, the City has expended 14.2% of its budgeted general governmental expenditures at the end of February.  This is  $153K or 1% above year‐to‐date budgeted expenditures.  See below for summary of unfavorable items for general  governmental departments.      Executive (includes Emergency Management) is over the year‐to‐date budget by 23K or 4.5%.  This is primarily due to over  spending on court public defenders contract and the timing of when large membership and dues were paid compared to the  prior years.  We will adjust the court public defenders budget to be more aligned with the new contract in the 2019 2nd  Quarter Budget Amendment.    Administrative Services (Finance and City Clerk) is over the year‐to‐date budget by $93K or 12.5%.  This is primarily due to  the timing of when voter registration is paid compared to the prior years.  The overage should correct itself by year‐end.    Public Works (Admin, Street Maintenance and Transportation) is over the year‐to‐date budget by $14K or 0.7%.  This is  primarily due overspending on the year‐to‐date budget on signal, sign, and marking supplies.  The overage should correct  itself by year‐end.                                                                           City of Renton, Washington Page 11 of 15 Monthly Financial Report February 2019      ENTERPRISE FUNDS  The table below gives an analysis of all City Enterprise funds.  Displayed are the year‐to‐date revenues and expenditures for  each enterprise.  Included in each funds are the capital revenues and expenditures.  The negative fund balance for Golf Course  will be positive during the spring and summer months.    Airport Golf Course Solid Waste  Utility Water Utility Wastewater  Utility Surface Water  Utility Metro REVENUES: Licenses  and permits ‐                 ‐                 ‐                 ‐                 22,525            6,950              ‐                  Grants  / intergovernmental ‐                 ‐                 ‐                 ‐                 ‐                 442,403          ‐                  Charges  for services 45,381            108,873          2,251,362       2,446,014       1,798,411       2,012,394       2,832,158        Interdepartmental services ‐                 ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Fines  and penalties ‐                 ‐                 ‐                 ‐                 176                 ‐                 ‐                  Rents, leases, and misc fees 429,411          24,147            ‐                 19,455            ‐                 ‐                 ‐                  Interest and other misc 12,921            3,013              6,768              100,670          75,482            48,546            15,169             TOTAL REVENUES 487,713          136,033          2,258,130       2,566,139       1,896,594       2,510,293       2,847,327        EXPENSES: Utility billing ‐                 ‐                 7,106              28,334            24,559            38,456            ‐                  Utility systems ‐                 ‐                 2,687,108       677,390          611,136          537,026          ‐                  Utility maintenance ‐                 ‐                 63,262            901,277          325,200          512,632          2,805,447        Transportation 291,965          ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Golf ‐                 326,946          ‐                 ‐                 ‐                 ‐                 ‐                  TOTAL EXPENSES 291,965          326,946          2,757,476       1,607,001       960,895          1,088,114       2,805,447        AMOUNT AVAILABLE FOR DEBT  SERVICE 195,748          (190,913)        (499,346)        959,138          935,699          1,422,179       41,880             DEBT SERVICE: Principal ‐                  ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Interest ‐                 ‐                 ‐                 ‐                 ‐                 86,670            ‐                  TOTAL DEBT SERVICE ‐                 ‐                 ‐                 ‐                 ‐                 86,670            ‐                  CAPITAL PROJECTS 8,957              797                 ‐                 357,061          218,160          196,784          ‐                  TRANSFERS IN/(OUT)‐                 ‐                 ‐                 ‐                 28,356            ‐                 ‐                  CHANGE IN FUND BALANCE 186,791          (191,710)        (499,346)        602,077          745,895          1,138,725       41,880             BEGINNING FUND BALANCE, Jan 1 4,985,377       110,812          2,276,333       38,002,973     18,879,201     16,356,030     5,512,418        ENDING FUND BALANCE, Feb 28 5,172,168       (80,898)          1,776,987       38,605,050     19,625,096     17,494,755     5,554,298              City of Renton, Washington Page 12 of 15 Monthly Financial Report February 2019      INTERNAL SERVICE FUNDS  The table below gives an analysis of all City Internal Service Funds.  Displayed are the year‐to‐date revenues and  expenditures for each internal service.  Included in each fund are the capital revenues and expenditures.     Equipment  Rental Information  Technology Facilities Communications Insurance Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐               62,680         ‐               ‐                       ‐               ‐               ‐                Grants  / intergovernmental ‐               ‐               ‐               ‐                       ‐               ‐               35,898          Charges  for services Equipment rental  m&o 381,134       825,509       ‐               ‐                       ‐               ‐               ‐                Print and mail ‐               ‐               ‐               74,466                 ‐               ‐               ‐                Communications ‐               ‐               ‐               109,630               ‐               ‐               ‐                Facilities ‐               ‐               713,863       ‐                       ‐               ‐               ‐                Data  cards  and cell  phones ‐               ‐               ‐               ‐                       ‐               ‐               ‐                IT service contracts ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Interest and other misc 15,862         9,749           3,664           1,674                   44,728         10,736         34,000          Internal service fund misc: Vehicle  / equipment capital  recovery 495,260       ‐               ‐               ‐                       ‐               ‐               ‐                Insurance premiums ‐               ‐               ‐               ‐                       281,435       ‐               ‐                Worker's  comp/unemployment ‐               ‐               ‐               ‐                       226,861       ‐               ‐                Benefit premiums ‐               ‐               ‐               ‐                       ‐               1,686,645    437,444        Other misc 2,666           ‐               24,710         ‐                       ‐               166,970       ‐                Interfund Lo an ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Capital  contributions ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Disposal  of capital  assets 4,186           ‐               ‐               ‐                       ‐               ‐               ‐                Insurance recoveries ‐               ‐               ‐               ‐                       28,792         ‐               ‐                TOTAL REVENUES 899,108       897,938       742,237       185,770               581,816       1,864,351    507,342        EXPENSES: Communications 128,494                Equipment rental 383,468        Facilities 756,941        Healthcare 1,506,353     Information technology 948,109        Print and mail 73,284                  Retiree healthcare 92,192          Risk management: Risk management 425,035        Unemployment 9,452            Worker's  compensation 239,071        TOTAL EXPENSES 383,468       948,109       756,941       201,778               673,558       1,506,353    92,192          AMOUNT AVAILABLE FOR CAPITAL 515,640       (50,171)        (14,704)        (16,008)                (91,742)        357,998       415,150        CAPITAL PROJECTS 439,553       18,252         6,258           ‐                       ‐               ‐               ‐                TRANSFERS IN ‐               19,731         ‐               ‐                       ‐               ‐               ‐                TRANSFERS (OUT)‐               ‐               (5,000)          ‐                       ‐               ‐               ‐                CHANGE  IN FUND BALANCE 76,087         (48,692)        (25,962)        (16,008)                (91,742)        357,998       415,150        BEGINNING FUND BALANCE, Jan 1 6,493,018    3,934,408    1,376,859    685,593               18,522,154  4,259,511    13,876,628   ENDING FUND BALANCE, Feb 28 6,569,105    3,885,716    1,350,897    669,585               18,430,412  4,617,509    14,291,778     City of Renton, Washington Page 13 of 15 Monthly Financial Report February 2019      FUND BALANCE  Page 15 shows the ending fund balance as of February 2019.  The City’s fund balance is a combination of current  deficit/surplus of funds which have accrued from unexpended operating budgets, unanticipated excess revenues, and from  balances accumulated from prior years.      The prior year’s balances (or beginning balance) include funds identified as being reserved for specific purposes or required  to meet the current year’s appropriations. These balances also provide financial stability to the City’s operation during  uncertain times and provide a layer of security to bondholders.      At the end of February, the City has $47.7M reported in the combined general governmental fund balance of the current  year’s operating budget, which is approximately 44.6% of budgeted operating expenditures.  This is an increase of $1.5M  from the year’s beginning balance.  February’s ending fund balance is over the anticipated General Governmental Fund  Balance of $31.7M by $16M or 50.4%.  Although the ending fund balance is above projections, it is consistent with the prior  years’ trends and consistent with the forecast (Long Range Plan) that was presented as part of the 2019/2020 Adopted  Budget.      CONTACT INFORMATION  This report is prepared by the Finance Division of the Administrative Services 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 us at hnguyen@rentonwa.gov or kroller@rentonwa.gov.  City of Renton, Washington Page 14 of 15 Monthly Financial Report February 2019      City  of Renton All Funds ‐ Revenue, Expenditures and Fund  Balances Cash  Basis through February 28, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  02/28/19 Total Funds   Available Budgeted  Expenditure Expenditure  02/28/19 Ending Balance GENERAL FUND: 46,198,341          105,153,461        16,742,001          62,940,342          107,010,663        15,200,621          47,739,721           SPECIAL REVENUE FUNDS: 2,527,377            1,855,224            391,287               2,918,664            1,820,644            136,126               2,782,538             102 Arterial  Street 163,671               700,000               103,893               267,564               700,000                ‐                           267,564                108 Leased City Properties 651,819               842,550               162,412               814,231               1,007,970            108,796               705,435                110 Hotel  Motel 722,387               200,000               61,064                 783,451               ‐                           21,667                 761,784                125 1% For Art 119,446               15,000                 290                      119,736               15,000                 ‐                           119,736                127 Cable  Communication 529,159               97,674                 62,800                 591,959               97,674                 5,663                   586,296                135 Springbrook Wetlands  Bank 340,895               ‐                           828                      341,723               ‐                           ‐                           341,723                CAPITAL PROJECT FUNDS (CIP):40,766,600          28,530,208          827,832               41,594,432          30,804,141          1,597,027            39,997,405           303 Community Services  Mitigation 2,578,256            86,500                 71,596                 2,649,852            1,629,000            ‐                           2,649,852             304 Fire  Mitigation 1,455,669            99,000                 28,378                 1,484,047            128,576                ‐                           1,484,047             305 Transportation Mitigation 3,332,524            1,020,000            144,191               3,476,715            950,000                ‐                           3,476,715             316 Municipal Facilities  CIP 20,675,238          5,629,000            492,702               21,167,940          6,891,357            1,358,445            19,809,495           317 Transportation CIP 5,492,313            21,695,708          73,356                 5,565,669            21,205,208          209,893               5,355,776             326 Housing Opportunity 2,582,203             ‐                           6,284                   2,588,487             ‐                            ‐                           2,588,487             336 New Library Development 456,591                ‐                           1,103                   457,694               ‐                           ‐                           457,694                346 New Family First Center Dvlpmnt 4,193,806            ‐                           10,222                 4,204,028            ‐                           28,689                 4,175,339             ENTERPRISE FUNDS:86,123,144          86,273,109          12,742,585          98,865,729          88,504,833          10,718,272          88,147,457           4X2 Airport Operating & CIP 4,985,377            3,051,767            487,714               5,473,091            2,745,429            300,922               5,172,169             403 Solid Waste  Utility 2,276,333            19,505,719          2,258,130            4,534,463            19,347,734          2,757,476            1,776,987             4X4 Golf Operating & CIP 110,812               2,432,020            148,033               258,845               2,261,417            339,742               (80,897)                 4X5 Water Operating & CIP 38,002,973          18,841,192          2,566,138            40,569,111          21,861,791          1,964,062            38,605,049           4X6 Waste  Water Operating & CIP 18,879,201          11,582,615          1,924,950            20,804,151          13,858,678          1,179,054            19,625,097           416 King County Metro 5,512,418            16,922,613          2,847,327            8,359,745            16,922,613          2,805,447            5,554,298             4X7 Surface Water Operating & CIP 16,356,030          13,937,183          2,510,293            18,866,323          11,507,171          1,371,569            17,494,754           INTERNAL SERVICE FUNDS: 49,148,171          35,393,276          5,698,295            54,846,466          36,451,315          5,031,461            49,815,005           501 Equipment Repair/Replacement 6,493,018            7,404,395            899,108               7,392,126            7,024,476            823,020               6,569,106             502 Insurance 18,522,154          3,343,143            581,816               19,103,970          4,200,634            673,558               18,430,412           503 Information Services 3,934,408            6,017,088            917,670               4,852,078            6,053,852            966,361               3,885,717             504 Facilities 1,376,859            5,261,799            742,237               2,119,096            5,442,486            768,199               1,350,897             505 Communications 685,593               1,105,816            185,770               871,363               1,100,667            201,778               669,585                512 Insurance, Healthcare 4,259,511            11,019,762          1,864,351            6,123,862            11,651,019          1,506,353            4,617,509             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            507,343               14,383,971          978,181               92,192                 14,291,779           FIDUCIARY FUNDS:7,146,983            468,000               13,050                 7,160,033            210,475               35,523                 7,124,510             611 Firemen's  Pension 7,146,983            468,000               13,050                 7,160,033            210,475               35,523                 7,124,510             TOTAL  FUNDS 231,910,616     257,673,278     36,415,050       268,325,666     264,802,071     32,719,030       235,606,636      City of Renton, Washington Page 15 of 15