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HomeMy WebLinkAbout201903, March h:\finance\financial reporting\monthly reports\2019 reports\cover 0319.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: August 30, 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: March 2019 Financial Status Report       At the end of March, general governmental revenues show $2.6M or 12.7% over budget.   Revenue source(s) that are higher than expected are: sales tax ($246K); state shared  revenues ($180K); gambling taxes ($136K); business & occupation taxes ($1M); interest  & other earnings ($173K); fines and penalties ($390K); real estate excise tax ($789K);  business licensing ($436K); and other miscellaneous ($225K). On the down side, the  revenue source(s) that are underperforming the year to date budget are: utility taxes  ($890K) and building permits/development service fees ($238K).    General government expenditures showed a favorable variance of $1.4M or 5.7%.  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 30, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 0319.docx  This page is intentionally left blank      General Governmental Funds $% Beginning Fund Balance 26,563,785$     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        1,153,726          19,463,461          759,091                20,885,254       911,676            996,825             85,149               9.3% Sales Tax 26,331,634        6,511,814          28,428,635          7,156,173            27,684,069       6,839,339       7,085,510         246,171            3.6% Sales Tax  ‐ Annexation Credit/LRF 3,123,230           770,799               1,619,553             848,524                ‐                           ‐                        ‐                         ‐                        0.0% Criminal Justice Sales Tax 2,808,564           691,484               3,091,020             751,312                2,886,744          705,979            806,497             100,518            14.2% Natural Gas  Use Tax 180,456                62,356                  141,408                  48,308                   180,000               61,492               81,082                19,590               31.9% Admission Tax 223,157                63,529                  225,466                  58,183                   250,000               67,825               48,790                (19,035)              ‐28.1% Franchise  Fees 1,562,100           396,270               1,508,915             403,850                1,526,500          397,713            405,277             7,564                  1.9% Electricity Tax 5,721,366           1,490,417          5,592,795             1,704,900            5,559,113          1,569,991       1,015,999         (553,991)           ‐35.3% Natural Gas  Utility Tax 1,630,375           617,203               1,446,693             621,678                1,400,000          563,664            333,824             (229,841)           ‐40.8% Garbage/Solid Waste 627,254                138,662               743,003                  164,761                680,000               150,576            186,529             35,953               23.9% TV Cable 1,651,405           382,954               1,525,625             361,967                1,678,736          393,614            216,202             (177,413)           ‐45.1% Telephone 866,519                259,942               830,975                  212,377                692,674               192,733            275,325             82,592               42.9% Cellular Phone 1,481,298           387,600               1,159,489             331,634                1,551,630          422,596            127,295             (295,300)           ‐69.9% City Utilities 4,840,530           917,726               4,925,046             1,146,925            4,500,000          951,396            1,179,660         228,265            24.0% 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           601,996               2,831,045             711,497                2,000,000          475,351            610,937             135,586            28.5% Real Estate Excise  Tax 2,824,348           2,074,348          4,892,496             1,497,372            4,000,000          450,661            1,240,155         789,494            175.2% Less: CIP REET (2,074,348)          (2,074,348)         (1,497,372)            (1,497,372)          (1,373,000)         (450,661)          (435,693)            14,968               ‐3.3% EMS Levy ‐                            ‐                           ‐                              ‐                            ‐                           ‐                        ‐                         ‐                        0.0% B&O Taxes 9,633,034           1,239,641          10,689,216          2,363,482            8,000,000          1,826,654       2,343,145         516,491            28.3% Less: CIP B&O Taxes (2,473,974)          ‐                           (1,379,314)            ‐                            (2,000,000)         (500,000)          ‐                         500,000            ‐100.0% Business License Fees 1,480,730           439,906               1,037,650             825,177                695,455               308,706            744,645             435,939            141.2% Less: CIP Business License Fees (614,796)              (245,781)             (356,629)                (332,622)               ‐                           ‐                        ‐                         ‐                        0.0% Animal  Licenses and Spec Events  Permits 140,391                27,732                  119,901                  35,628                   94,174                  24,955               39,356                14,401               57.7% Building Permits & Development Svc Fees 4,907,983           1,180,134          4,650,227             1,183,898            5,223,637          1,291,942       1,053,527         (238,415)           ‐18.5% Intergovt'l (Grants, State Shared, etc) 4,285,806           911,415               4,232,288             1,002,117            3,823,847          923,195            1,004,299         81,104               8.8% 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                281,836               1,208,422             368,609                837,835               266,337            283,517             17,180               6.5% Culture and Recreation 1,722,323           256,222               1,509,375             245,382                1,829,714          283,997            242,070             (41,926)              ‐14.8% Interfund/Interdept‐Services 3,916,334           1,027,817          3,900,407             1,064,614            4,431,371          1,107,843       1,037,598         (70,245)              ‐6.3% Fines  and Penalties 822,450                138,335               810,152                  208,076                827,782               174,023            215,475             41,453               23.8% Photo Enforcement 2,124,399           425,863               3,463,040             470,474                3,431,405          550,466            899,335             348,869            63.4% Seizure Funds  ‐ Federal/State/Local 176,503                106,573               349,134                  16,733                   ‐                           ‐                        16,467                16,467               100.0% Interests  and Other Earnings 1,155,371           191,446               1,189,995             247,882                830,000               155,473            328,330             172,856            111.2% Rents, Leases, and Concessions 634,897                207,290               673,666                  209,780                572,695               182,531            226,085             43,554               23.9% Contributions and Donations 177,919                36,395                  197,221                  42,195                   125,204               26,229               97,184                70,955               270.5% Other Miscellaneous 954,680                205,950               708,728                  209,931                748,987               188,686            413,186             224,500            119.0% Other Financing Sources  (Transfer ‐In, etc) 283,213                ‐                           (139,213)                13,000                   1,028,576          17                         17                           0                             0.0% Total Operating Revenues 109,530,146     21,057,303       110,339,607       23,642,627         105,153,461    20,709,588    23,344,274      2,634,686        12.7% OPERATING  EXPENDITURES Council 362,101                97,498                  377,512                  98,763                   414,410               109,966            96,135                13,831               12.6% Executive 1,954,748           490,536               2,073,371             545,152                2,302,698          592,057            626,853             (34,796)              ‐5.9% Emergency Management 569,333                120,198               590,655                  143,430                645,858               146,783            126,555             20,228               13.8% City Attorney 2,088,718           508,012               2,216,692             542,881                2,393,230          584,155            579,692             4,463                  0.8% Court Services 2,174,217           523,105               2,222,633             561,465                2,646,159          652,727            599,351             53,377               8.2% Community and Eco Dvlpmnt Admin 1,351,830           329,786               1,347,568             335,635                1,507,929          371,716            355,930             15,785               4.2% Development Services 3,023,728           754,102               3,032,130             704,870                3,473,019          836,717            765,282             71,435               8.5% Economic Development 949,467                140,672               833,055                  191,708                1,363,153          254,182            181,005             73,176               28.8% Planning 2,815,148           681,350               3,022,122             743,111                3,434,856          838,203            765,660             72,543               8.7% Finance 3,132,609           630,778               3,427,262             674,895                3,591,794          714,909            709,421             5,488                  0.8% City Clerk 1,119,376           387,366               1,274,941             493,757                1,341,087          493,528            483,593             9,934                  2.0% Human Resources 1,221,841           273,335               1,268,733             299,021                1,506,283          346,157            322,612             23,545               6.8% Police 30,987,047        7,499,489          33,764,563          7,998,067            35,629,655       8,528,010       8,808,325         (280,315)           ‐3.3% Jail Services 4,807,443           1,201,697          5,970,673             1,492,103            6,239,267          1,441,493       1,441,493         ‐                        0.0% Community Services  Admin 554,951                128,246               510,454                  128,636                528,906               127,526            132,872             (5,346)                 ‐4.2% Parks & Trails 4,926,587           1,004,778          5,026,203             1,030,713            5,414,681          1,111,063       1,136,093         (25,030)              ‐2.3% Parks Planning & Natural  Resources 1,059,058           204,477               1,114,153             197,223                1,201,760          222,135            203,405             18,731               8.4% Recreation & Neighborhoods 6,152,644           1,304,285          6,280,121             1,326,431            6,239,574          1,321,284       1,262,084         59,200               4.5% Human Services 1,634,387           256,318               1,421,280             243,570                1,363,310          223,029            254,606             (31,577)              ‐14.2% Museum 235,712                59,213                  245,590                  60,984                   252,298               63,007               63,525                (518)                     ‐0.8% Public Works  Admin 406,781                101,914               417,786                  104,253                425,954               106,501            106,209             292                       0.3% Street Maintenance 5,603,141           1,383,891          5,676,989             1,354,087            5,894,373          1,430,716       1,391,866         38,849               2.7% Transportation 5,368,887           1,046,712          5,550,779             1,370,577            6,194,559          1,371,291       1,489,876         (118,585)           ‐8.6% Debt Service 6,063,576           293,691               5,696,184             290,010                6,793,668          1,698,417       284,932             1,413,485        83.2% Non‐Departmental and Other 14,245,763        776,618               4,064,656             797,846                6,212,181          806,804            806,804             ‐                        0.0% Total Operating Expenditures 102,809,093     20,198,109       97,426,104          21,729,189         107,010,663    24,392,378    22,994,182      1,398,195        5.7% Total Ending Fund Balance 33,284,838$     27,422,979$    46,198,341$       35,198,276$      30,609,010$    28,783,423$ 46,548,433$   17,765,010$  61.7% Favorable (Unfavorable) 2017 2018 2019 Variance Annual Actual YTD Actual Annual Budget YTD Budget YTD ActualSummary of Sources and Uses Annual Actual YTD Actual   Monthly Financial Report March 2019 City of Renton, Washington Page 1 of 15 Monthly Financial Report March 2019      OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through March 31, 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 67% 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: $765K  YTD Actual: $997K  Budgeted YTD: $912K  Prior Year Same Month: $665K  Prior Year YTD: $759K  Year‐to‐Year Variance: $238K,  31%  Actual‐to‐Budget YTD Variance:  $85K, 9%                Sales Tax    Current Month Actual: $2.1M  YTD Actual: $7.1M  Budgeted YTD: $6.8M  Prior Year Same Month: $2.1M  Prior Year YTD: $7.2M  Year‐to‐Year Monthly Variance:  ‐$33K, ‐2%  Year‐to‐Year YTD Variance:             ‐$71K, ‐1%  Actual‐to‐Budget Monthly  Variance: $2K, 0%  Actual‐to‐Budget YTD Variance:  $246K, 4%    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            764,729            99,258               15% 17,190               2% 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 759,091$         911,676$         996,825$         237,734$         31% 85,149$            9% Annual  Total 19,463,461$  20,885,254$   Property Tax  Revenues Year  to Date through March 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        2,066,530        (32,650)               ‐2% 2,229                  0% 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 7,156,173$     6,839,339$     7,085,510$     (70,663)$           ‐1% 246,171$         4% An nual  Total 28,428,635$  27,684,069$   2019 vs. Budget2019 vs. 2018 Month Year  to Date through March Local Retail Sales  Tax Revenues City of Renton, Washington Page 2 of 15 Monthly Financial Report March 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 1,078,451$     911,925$         1,048,071$     (30,379)$            ‐3%$        136,147 15% Auto  Sales 1,267,907        1,243,731        1,233,625        (34,283)               ‐3%            (10,106)‐1% General  Retail 2,089,087        2,082,467        2,079,042        (10,044)              0%               (3,424) 0% Manufacturing 479,103            509,888            549,333            70,230                15%              39,445 8% Wholesale 354,299            328,176            336,870            (17,429)               ‐5%                 8,694 3% Service 1,720,890        1,590,576        1,682,053        (38,838)               ‐2%              91,477 6% Other 166,436            172,577            156,516            (9,920)                  ‐6%            (16,061)‐9% YTD  Total 7,156,173$     6,839,339$     7,085,510$     (70,663)$           ‐1%246,171$        4% Note: Excludes  Annexation Credit and Criminal Justice Sales  Tax revenue.       Utility tax     Current Month Actual: $786K  YTD Actual: $3.4M  Budgeted YTD: $4.3M  Prior Year Same Month: $1.6M  Prior Year YTD: $4.6M  Year‐to‐Year Monthly Variance:  ‐$‐793K, ‐50%  Year‐to‐Year YTD Variance:             ‐$1.2M, ‐26%  Actual‐to‐Budget Monthly  Variance: ‐$576K, ‐42%  Actual‐to‐Budget YTD Variance:  ‐$890K, ‐21%    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 timing of when Electrical and Natural Gas  receipts were recorded (April instead of March) is why there is such a large variance for March.  The City is projecting utility  tax revenues to be about $15M by the end of the year.  The monthly budgets are based on 2017/2018 activity.  The table  below breaks out Utility Tax by source.    Utility Tax  by Type 2018 2019 Bgt YTD Act Change 2019/2018  2019 Act  vs  Bgt  Electrical 1,704,900$     1,569,991$     1,015,999$     (688,901)$         ‐40%$      (553,991)‐35% Natural  Gas 669,986            625,156            414,906            (255,080)            ‐38%         (210,250)‐34% Cell 331,634            422,596            127,295            (204,338)            ‐62%         (295,300)‐70% Phone 212,377            192,733            275,325            62,948                30%              82,592 43% Cable 361,967            393,614            216,202            (145,765)            ‐40%         (177,413)‐45% Garbage/Solid Waste 164,761            150,576            186,529            21,768                13%              35,953 24% City Utilities 1,146,925        951,396            1,179,660        32,735                3%           228,265 24% Utility Tax  Audit ‐                              ‐                              ‐                              ‐                               N/A                              ‐ N/A YTD Total 4,592,549$     4,306,061$     3,415,916$     (1,176,633)$    ‐26%(890,145)$       ‐21% Annual Total 16,365,034$  16,242,153$   YTD as % of 28% 27%      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        786,486            (792,705)            ‐50% (575,709)            ‐42% 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 4,592,549$     4,306,061$     3,415,916$     (1,176,633)$    ‐26% (890,145)$         ‐21% Annual  Total 16,365,034$  16,242,153$   2019 vs . Budget2019 vs. 2018 Year  to Date through March Utility Tax Revenues Month City of Renton, Washington Page 3 of 15 Monthly Financial Report March 2019      Other Taxes     Real Estate Excise Tax    Current Month Actual: $272K  YTD Actual: $1.2M  Budgeted YTD: $451K  Prior Year Same Month: $291K  Prior Year YTD: $1.5M  Year‐to‐Year Monthly Variance:  ‐$19K, ‐7%  Year‐to‐Year YTD Variance:             ‐$257K, ‐17%  Actual‐to‐Budget Monthly  Variance: $146K, 116%  Actual‐to‐Budget YTD Variance:  $789K, 175%    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: $283K  YTD Actual: $611K  Budgeted YTD: $475K  Prior Year Same Month: $245K  Prior Year YTD: $711K  Year‐to‐Year Monthly Variance:  $38K, 15%  Year‐to‐Year YTD Variance:             ‐$101K, ‐14%  Actual‐to‐Budget Monthly  Variance: $129K, 84%  Actual‐to‐Budget YTD Variance:  $136K, 29%    Gambling tax revenue is behind  2018 but is above budget.  The City is projecting gambling tax revenues to be about $2.6M 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            272,006            (19,039)               ‐7% 145,842            116% 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 1,497,372$     450,661$         1,240,155$     (257,217)$        ‐17% 789,494$         175% Annual  Total 7,815,124$     4,000,000$      *Total REET (GF & CIP) Real Estate Excise  Tax (REET) Revenues* Year  to Date through March 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            283,007            37,724               15% 128,795            84% 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 711,497$         475,351$         610,937$         (100,560)$        ‐14% 135,586$         29% Annual  Total 2,831,045$     2,000,000$      Gambling Tax Revenue Month Year  to Date through March 2019 vs. Budget2019 vs. 2018 City of Renton, Washington Page 4 of 15 Monthly Financial Report March 2019      Franchise Fees    Current Month Actual: $26K  YTD Actual: $405K  Budgeted YTD: $398K  Prior Year Same Month: $16K  Prior Year YTD: $404K  Year‐to‐Year Monthly  Variance: $10K, 65%  Year‐to‐Year YTD Variance:          $1K, 0%  Actual‐to‐Budget Monthly  Variance: $14K, 111%  Actual‐to‐Budget YTD  Variance: $8K, 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: $0  YTD Actual: $49K  Budgeted YTD: $68K  Prior Year Same Month: $112  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: $106K  YTD Actual: $2.3M  Budgeted YTD: $1.8M  Prior Year Same Month: $48K  Prior Year YTD: $2.4M  Year‐to‐Year Monthly  Variance: $58K, 120%  Year‐to‐Year YTD Variance:          ‐$20K, ‐1%  Actual‐to‐Budget Monthly  Variance: $29K, 37%  Actual‐to‐Budget YTD  Variance: $516K, 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               26,075               10,283               65% 13,702               111% 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 403,850$         397,713$         405,277$         1,427$               0% 7,564$               2% Annual Total 1,508,915$     1,526,500$      Month 2019 vs. 2018 2019 vs. Budget Franchise  Fees  Revenue Year to Date through March 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 58,183$            67,825$            48,790$            (9,281)$               ‐16% (18,973)$            ‐28% Annual Total 225,466$         250,000$          2019 vs. Budget Admission Tax  Revenue Year to Date through March 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               105,983            57,705               120% 28,884               37% 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 2,363,482$     1,826,654$     2,343,145$     (20,337)$           ‐1% 516,491$         28% Annual Total 10,689,216$  8,000,000$      *Total Business & Occupation Taxes (GF & CIP) Business & Occupation Taxes  (B&O)* Year  to Date through March Month 2019 vs. 2018 2019 vs. Budget City of Renton, Washington Page 5 of 15 Monthly Financial Report March 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: $115K  YTD Actual: $745K  Budgeted YTD: $309K  Prior Year Same Month: $42K  Prior Year YTD: $825K  Year‐to‐Year Monthly Variance:  $73K, 176%  Year‐to‐Year YTD Variance:             ‐$81K, ‐10%  Actual‐to‐Budget Monthly  Variance: $88K, 319%  Actual‐to‐Budget YTD Variance:  $436K, 141%    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  $1M by the end of the year.      Building Permits and  Development Service Fees    Current Month Actual: $338K  YTD Actual: $1.1M  Budgeted YTD: $1.3M  Prior Year Same Month: $589K  Prior Year YTD: $1.2M  Year‐to‐Year Monthly Variance:  ‐$250K, ‐43%  Year‐to‐Year YTD Variance:             ‐$130K, ‐11%  Actual‐to‐Budget Monthly  Variance: ‐$261K, ‐44%  Actual‐to‐Budget YTD Variance:  ‐$238K, ‐18%    The City is projecting building permits and development services fees to be $4.1M 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               115,148            73,371               176% 87,672               319% 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 825,177$         308,706$         744,645$         (80,532)$            ‐10% 435,939$         141% An nual  Total 1,037,650$     695,455$          *Total Business License (GF & CIP) 2019 vs. 2018 Year  to Date through March 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            338,320            (250,207)            ‐43% (260,524)            ‐44% 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 1,183,898$     1,291,942$     1,053,527$     (130,371)$        ‐11% (238,415)$        ‐18% Annual  Total 4,650,227$     5,223,637$      Ye ar  to Date through March 2019 vs. Budget2019 vs. 2018 Month Building Permits and Development Service  Fees City of Renton, Washington Page 6 of 15 Monthly Financial Report March 2019      Intergovernmental  These revenue  sources include  federal (direct and  indirect) grants, state  grants, state shared  revenues, local  grants, and  entitlements.  State  shared revenues 93%  of the total revenues  in this category. The year‐to‐date total Intergovernmental revenue is $2M or 28% of the budget.       State Shared  Revenues    YTD Total: $1.7M  Year‐to‐Year YTD  Variance: $115K, 7%  Actual‐to‐Budget YTD  Variance: $180K, 12%    The higher than  expected collection is  due to collecting  more than  anticipated Criminal  Justice’s Sales Tax and  Marijuana Distribution.  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  57% of the total revenue in this category.  The year‐to‐date total charges for services are $2.3M or 25% of the budget.  The  following sections provide detail information for Public Safety, Recreation, and Interfund Services.      Public Safety Services    YTD Total: $284K  Year‐to‐Year YTD Variance:             ‐$85K, ‐23%  Actual‐to‐Budget YTD Variance:  $17K, 6%    The city is projecting public  safety service revenues to be  close to $900K by the end of  the year.          Intergovernmental 2018 2019 Bgt YTD  Act Change 2019/2018  2019 Act  vs  Bgt  Fire  District #25 ‐$                            ‐$                            ‐$                            ‐$                            N/A  $                          ‐ N/A Fire  District #40 178,830            186,030            186,030            7,200                   4%‐                            0% State  Shared Revenue 1,557,295        1,492,057        1,672,486        115,191             7% 180,429           12% Federal  Grants 497                       1,903                  2,940                  2,443                   491% 1,037                54% State  Grants 15,271               15,471               15,471               200                       1%‐                            0% Other Grants/Intgovt 69,572               119,743            119,899            50,328                72%156                     0% ARRA Grants ‐                              ‐                              ‐                              ‐                               N/A ‐                            N/A Total  Rev YTD 1,821,465$     1,815,203$     1,996,825$     175,361$          10%181,622$        10% Total  Rev Annual 7,680,968$     7,082,650$      YTD  %24% 26% 28% Note:  Includes  CJ Sales  Tax  and FD25  & FD40 contracts 2018 2019 2019 Actual Budget Actual $ % $ % Crim Just Sales  Tax 751,312$         705,979$         806,497$         55,184$            7% 100,518$         14% Judicial Contribution 5,517                  2,815                  5,415                  (102)                      ‐2% 2,600                  92% 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 ‐                        ‐                        52,766               52,766               100% 52,766               100% Liquor Profits 212,768            212,547            212,201            (567)                     0% (346)                     0% Liquor Excise  Tax 119,489            113,426            128,697            9,208                  8% 15,271               13% Fuel  Tax 362,502            352,439            354,141            (8,361)                  ‐2% 1,702                  0% YTD  Total 1,557,295$     1,492,057$     1,672,486$     115,191$         7% 180,429$         12% Annual  Total 6,710,599$     6,182,479$      State  Shared Revenues 2019 vs. 2018 Revenue Year to Date through March 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               82,273               (515)                      ‐1% (12,517)               ‐13% 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 368,609$         266,337$         283,517$         (85,092)$            ‐23% 17,180$            6% An nual  Total 1,208,422$     837,835$          2019 vs. Budget Month 2019 vs. 2018 Year  to Date through March Public Safety Services City of Renton, Washington Page 7 of 15 Monthly Financial Report March 2019      Recreation    Current Month Actual: $97K  YTD Total: $242K  Budgeted YTD: $284K  Prior Year Same Month: $55K  Prior Year YTD Total: $245K  Year‐to‐Year Monthly Variance:  $42K, 76%  Year‐to‐Year YTD Variance:             ‐$3K, ‐1%  Actual‐to‐Budget Monthly  Variance: $29K, 42%  Actual‐to‐Budget YTD Variance:  ‐$42K, ‐15%    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: $342K  Year‐to‐Year YTD Variance:          ‐$27K, ‐3%  Actual‐to‐Budget YTD Variance:  ‐$70K, ‐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               97,206               41,907               76% 28,858               42% 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 245,382$         283,997$         242,070$         (3,312)$               ‐1% (41,926)$            ‐15% Annual  Total 1,509,375$     1,829,714$      2019 vs. Budget2019 vs. 2018 Month Recreation Year  to Date through March 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            341,533            (36,937)               ‐10% (27,748)               ‐8% 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 1,064,614$     1,107,843$     1,037,598$     (27,016)$           ‐3% (70,245)$           ‐6% An nual  Total 3,900,407$     4,431,371$      2019 vs. Budget Month Interfund Services Year  to Date through March 2019 vs. 2018 City of Renton, Washington Page 8 of 15 Monthly Financial Report March 2019      Fines and Penalties    YTD Total: $1.1M  Year‐to‐Year YTD Variance:  $436K, 64%  Actual‐to‐Budget YTD Variance:  $390K, 54%    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 March 2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 409$                    535$                    328$                    (81)$                      ‐20% (207)$                   ‐39% Civil Infraction Penalties 93,252               72,414               78,860               (14,392)               ‐15% 6,446                  9% Civil Parking Infraction Penalties 46,426               61,490               44,458               (1,969)                  ‐4% (17,033)               ‐28% Photo Enforcement Program 470,474            550,466            899,335            428,861            91% 348,869            63% Criminal Traffic  Misdemeanor Fines 19,655               17,743               17,965               (1,690)                  ‐9% 223                       1% Criminal Non‐Traffic  Fines 15,779               6,372                  36,220               20,441               130% 29,848               468% Criminal Costs 25,745               5,604                  31,224               5,479                  21% 25,620               457% Non‐Court Fines, Forfeitures and Penalties 6,811                  9,864                  6,420                  (391)                      ‐6% (3,444)                  ‐35% YTD  Total 678,550$         724,489$         1,114,810$     436,260$         64% 390,321$         54% 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 $900K.      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            555,275            243,163            78% 254,204            84% 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 678,550$         724,489$         1,114,810$     436,260$         64% 390,321$         54% Annual  Total 4,273,192$     4,259,187$      Mo nth 2019 vs. Budget2019 vs. 2018 Year  to Date through March 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            399,499            126,219            128,001            271,498             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 550,466$         899,335$         378,656$         284,760$         614,575$          Annual Total 3,431,405$     1,514,623$      1Actuals  of Revenues and Expenses Photo Enforcement Program Year  to Date through March Month Revenues Expenses City of Renton, Washington Page 9 of 15 Monthly Financial Report March 2019      Miscellaneous    YTD Total: $749K  Year‐to‐Year YTD Variance:  $157K, 27%  Actual‐to‐Budget YTD Variance:  $297K, 66%    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 247,882$         155,473$         328,330$         80,447$            32% 172,856$         111% Rents, Leases, and Concessions 209,780            182,531            226,085            16,306               8% 43,554               24% Contributions/Donations from  Private Sources 42,195               26,229               97,184               54,989               130% 70,955               271% Other 74,878               88,019               80,793               5,915                  8% (7,226)                  ‐8% Seizure  Funds ‐ Federal/State/Local 16,733               ‐                        16,467               (265)                      ‐2% 16,467               100% YTD Total 591,468$         452,253$         748,860$         157,392$         27% 296,607$         66% Annual Total 2,666,594$     1,783,021$      2019 vs. Budget Miscellaneous Revenues by Type Year  to Date through March 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            195,180            17,010               10% 71,573               58% 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 591,468$         452,253$         748,860$         157,392$         27% 296,607$         66% Annual  Total 2,666,594$     1,783,021$      Ye ar  to Date through March Month 2019 vs. Budget2019 vs. 2018 Miscellaneous Revenues  by Month City of Renton, Washington Page 10 of 15 Monthly Financial Report March 2019      EXPENSES  Overall, the City has expended 21.5% of its budgeted general governmental expenditures at the end of March.  This is $1.4M  or 5.7% below 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 $15K or 2%.  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.    Police is over the year‐to‐date budget by $280K or 3.3%.  This is primarily due to overspending on the year‐to‐date budget of  overtime.  We will monitor this to determine if a budget amendment is needed at year‐end.    Public Works (Admin, Street Maintenance and Transportation) is over the year‐to‐date budget by $79K or 2.7%.  This is  primarily due to vacancies (savings) and overspending on the year‐to‐date budget of signal, sign, marking supplies and the  timing of when utility/One Regional Card for All (ORCA) invoices were paid in the prior years.  The overall overage should  correct itself by year‐end.                                                                           City of Renton, Washington Page 11 of 15 Monthly Financial Report March 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 ‐                 ‐                 ‐                 ‐                 27,425            9,750              ‐                  Grants  / intergovernmental 49,750            ‐                 18,898            ‐                 ‐                 609,384          ‐                  Charges  for services 67,876            214,995          4,840,174       3,728,041       2,713,107       2,923,482       4,298,504        Interdepartmental services ‐                 ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Fines  and penalties ‐                 ‐                 ‐                 ‐                 176                 ‐                 ‐                  Rents, leases, and misc fees 663,965          46,634            ‐                 36,487            ‐                 ‐                 ‐                  Interest and other misc 19,364            3,515              9,773              176,416          118,705          72,776            25,450             TOTAL REVENUES 800,955          265,144          4,868,845       3,940,944       2,859,413       3,615,392       4,323,954        EXPENSES: Utility billing ‐                 ‐                 10,624            40,626            33,353            50,768            ‐                  Utility systems ‐                 ‐                 4,233,608       1,055,850       926,310          895,627          ‐                  Utility maintenance ‐                 ‐                 95,518            1,377,080       487,820          761,479          4,208,170        Transportation 461,177          ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Golf ‐                 499,924          ‐                 ‐                 ‐                 ‐                 ‐                  TOTAL EXPENSES 461,177          499,924          4,339,750       2,473,556       1,447,483       1,707,874       4,208,170        AMOUNT AVAILABLE FOR DEBT  SERVICE 339,778          (234,780)        529,095          1,467,388       1,411,930       1,907,518       115,784           DEBT SERVICE: Principal ‐                  ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Interest ‐                 ‐                 ‐                 ‐                 ‐                 130,003          ‐                  TOTAL DEBT SERVICE ‐                 ‐                 ‐                 ‐                 ‐                 130,003          ‐                  CAPITAL PROJECTS 8,957              14,140            ‐                 483,101          440,958          351,324          ‐                  TRANSFERS IN/(OUT)‐                 ‐                 ‐                 ‐                 28,356            ‐                 ‐                  CHANGE IN FUND BALANCE 330,821          (248,920)        529,095          984,287          999,328          1,426,191       115,784           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, Mar 31 5,316,198       (138,108)        2,805,428       38,987,260     19,878,529     17,782,221     5,628,202              City of Renton, Washington Page 12 of 15 Monthly Financial Report March 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 ‐               84,680         ‐               ‐                       ‐               ‐               ‐                Grants  / intergovernmental ‐               ‐               ‐               ‐                       ‐               ‐               35,898          Charges  for services Equipment rental  m&o 575,753       1,238,247    ‐               ‐                       ‐               ‐               ‐                Print and mail ‐               ‐               ‐               111,711               ‐               ‐               ‐                Communications ‐               ‐               ‐               164,457               ‐               ‐               ‐                Facilities ‐               ‐               1,070,807    ‐                       ‐               ‐               ‐                Data  cards  and cell  phones ‐               ‐               ‐               ‐                       ‐               ‐               ‐                IT service contracts ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Interest and other misc 23,956         14,589         5,360           2,496                   67,376         16,402         51,568          Internal service fund misc: Vehicle  / equipment capital  recovery 742,892       ‐               ‐               ‐                       ‐               ‐               ‐                Insurance premiums ‐               ‐               ‐               ‐                       422,158       ‐               ‐                Worker's  comp/unemployment ‐               ‐               ‐               ‐                       341,966       ‐               ‐                Benefit premiums ‐               ‐               ‐               ‐                       ‐               2,521,241    656,168        Other misc 2,832           ‐               37,064         ‐                       ‐               250,590       ‐                Interfund Lo an ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Capital  contributions ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Disposal  of capital  assets 4,186           ‐               ‐               ‐                       ‐               ‐               ‐                Insurance recoveries ‐               ‐               ‐               ‐                       44,313         ‐               ‐                TOTAL REVENUES 1,349,619    1,337,516    1,113,231    278,664               875,813       2,788,233    743,634        EXPENSES: Communications 167,224                Equipment rental 643,375        Facilities 1,180,383     Healthcare 2,303,565     Information technology 1,361,151     Print and mail 114,068                Retiree healthcare 190,145        Risk management: Risk management 505,471        Unemployment 9,452            Worker's  compensation 256,599        TOTAL EXPENSES 643,375       1,361,151    1,180,383    281,292               771,522       2,303,565    190,145        AMOUNT AVAILABLE FOR CAPITAL 706,244       (23,635)        (67,152)        (2,628)                  104,291       484,668       553,489        CAPITAL PROJECTS 548,903       30,348         12,539         ‐                       ‐               ‐               ‐                TRANSFERS IN ‐               22,676         ‐               ‐                       ‐               ‐               ‐                TRANSFERS (OUT)‐               ‐               (5,000)          ‐                       ‐               ‐               ‐                CHANGE  IN FUND BALANCE 157,341       (31,307)        (84,691)        (2,628)                  104,291       484,668       553,489        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, Mar 31 6,650,359    3,903,101    1,292,168    682,965               18,626,445  4,744,179    14,430,117     City of Renton, Washington Page 13 of 15 Monthly Financial Report March 2019      FUND BALANCE  Page 15 shows the ending fund balance as of March 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 March, the City has $46.5M reported in the combined general governmental fund balance of the current year’s  operating budget, which is approximately 43.5% of budgeted operating expenditures.  This is an increase of $350K from the  year’s beginning balance.  March’s ending fund balance is over the anticipated General Governmental Fund Balance of  $28.8M by $17.8M or 61.7%.  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 March 2019      City  of Renton All Funds ‐ Revenue, Expenditures and Fund  Balances Cash  Basis through March 31, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  03/31/19 Total Funds  Available Budgeted  Expenditure Expenditure  03/31/19 Ending Balance GENERAL FUND: 46,198,341          105,153,461        23,344,274          69,542,615          107,010,663        22,994,182          46,548,433           SPECIAL REVENUE FUNDS: 2,527,377            1,855,224            587,760               3,115,137            1,820,644            209,523               2,905,614             102 Arterial  Street 163,671               700,000               167,441               331,112               700,000                ‐                           331,112                108 Leased City Properties 651,819               842,550               243,741               895,560               1,007,970            164,429               731,131                110 Hotel  Motel 722,387               200,000               111,373               833,760               ‐                           34,667                 799,093                125 1% For Art 119,446               15,000                 437                      119,883               15,000                 ‐                           119,883                127 Cable  Communication 529,159               97,674                 63,520                 592,679               97,674                 10,427                 582,252                135 Springbrook Wetlands  Bank 340,895               ‐                           1,248                   342,143               ‐                           ‐                           342,143                CAPITAL PROJECT FUNDS (CIP):40,766,600          28,530,208          1,249,533            42,016,133          30,804,141          3,580,629            38,435,504           303 Community Services  Mitigation 2,578,256            86,500                 92,164                 2,670,420            1,629,000            ‐                           2,670,420             304 Fire  Mitigation 1,455,669            99,000                 36,414                 1,492,083            128,576                ‐                           1,492,083             305 Transportation Mitigation 3,332,524            1,020,000            194,499               3,527,023            950,000                ‐                           3,527,023             316 Municipal Facilities  CIP 20,675,238          5,629,000            577,770               21,253,008          6,891,357            2,616,102            18,636,906           317 Transportation CIP 5,492,313            21,695,708          284,699               5,777,012            21,205,208          916,234               4,860,778             326 Housing Opportunity 2,582,203             ‐                           9,468                   2,591,671             ‐                           7,281                   2,584,390             336 New Library Development 456,591                ‐                           1,662                   458,253               ‐                           ‐                           458,253                346 New Family First Center Dvlpmnt 4,193,806            ‐                           52,857                 4,246,663            ‐                           41,012                 4,205,651             ENTERPRISE FUNDS:86,123,144          86,273,109          20,721,001          106,844,145        88,504,833          16,584,415          90,259,730           4X2 Airport Operating & CIP 4,985,377            3,051,767            800,956               5,786,333            2,745,429            470,134               5,316,199             403 Solid Waste  Utility 2,276,333            19,505,719          4,868,845            7,145,178            19,347,734          4,339,750            2,805,428             4X4 Golf Operating & CIP 110,812               2,432,020            283,143               393,955               2,261,417            532,063               (138,108)               4X5 Water Operating & CIP 38,002,973          18,841,192          3,940,943            41,943,916          21,861,791          2,956,656            38,987,260           4X6 Waste  Water Operating & CIP 18,879,201          11,582,615          2,887,769            21,766,970          13,858,678          1,888,441            19,878,529           416 King County Metro 5,512,418            16,922,613          4,323,954            9,836,372            16,922,613          4,208,170            5,628,202             4X7 Surface Water Operating & CIP 16,356,030          13,937,183          3,615,391            19,971,421          11,507,171          2,189,201            17,782,220           INTERNAL SERVICE FUNDS:49,148,171          35,393,276          8,509,386            57,657,557          36,451,315          7,328,224            50,329,333           501 Equipment Repair/Replacement 6,493,018            7,404,395            1,349,618            7,842,636            7,024,476            1,192,278            6,650,358             502 Insurance 18,522,154          3,343,143            875,813               19,397,967          4,200,634            771,522               18,626,445           503 Information Services 3,934,408            6,017,088            1,360,192            5,294,600            6,053,852            1,391,499            3,903,101             504 Facilities 1,376,859            5,261,799            1,113,231            2,490,090            5,442,486            1,197,922            1,292,168             505 Communications 685,593               1,105,816            278,664               964,257               1,100,667            281,293               682,964                512 Insurance, H ealthcare 4,259,511            11,019,762          2,788,233            7,047,744            11,651,019          2,303,565            4,744,179             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            743,635               14,620,263          978,181               190,145               14,430,118           FIDUCIARY FUNDS:7,146,983            468,000               19,627                 7,166,610            210,475               53,284                 7,113,326             611 Firemen's  Pension 7,146,983            468,000               19,627                 7,166,610            210,475               53,284                 7,113,326             TOTAL  FUNDS 231,910,616     257,673,278     54,431,581       286,342,197     264,802,071     50,750,257       235,591,940      City of Renton, Washington Page 15 of 15