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HomeMy WebLinkAbout201909, September h:\finance\financial reporting\monthly reports\2019 reports\cover 0919.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: November 7, 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: Misty Baker, Sr. Finance Analyst     SUBJECT: September 2019 Financial Status Report       At the end of September, general governmental revenues show $6.8M or 8.1% over  budget.  Revenue source(s) that are higher than expected are:      Property Tax ‐ $169K (pg 2)   Local Retail Sales Tax  ‐ $647K (pg 3)   Criminal Justice Sales Tax ‐ $290K (pg 3)   Gambling Excise Tax ‐ $816K (pg 5)   Real Estate Excise Tax ‐ $1.4M (pg 5)   B&O Tax ‐ $2.3M (pg 6)   Business Licenses ‐ $361K (pg 7)   State Shared Revenue ‐ $733K (pg 8)   Public Safety Services ‐ $199K (pg 9)   Development Services ‐ $308K (pg 10)   Photo Enforcement Program ‐ $602K (pg 12)   Interest and Other Investment Earnings ‐ $462K (pg 13)   Rents, Leases, and Concessions ‐ $211K (pg 14)    On the down side, the revenue source(s) that are underperforming the year to date  budget are:      Utility Tax ‐ $275K (pg 4)   Building Permits ‐ $432K (pg 7)   Recreation/Farmer’s Market/Events ‐ $326K (pg 10)   Interfund Services ‐ $533K (pg 11)   Civil Penalties ‐ $136K (pg 12)     Don Persson, Council President  Members of Renton City Council  Page 2 of 2  November 7, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 0919.docx   General government expenditures showed a favorable variance of $4.6M or 5.3%. See  page 14 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 x6869 should  you have any questions or any suggestions about the report.      Page 1 of 18   General Governmental Funds $% Beginning Fund Balance 24,413,781$     24,413,781$    31,534,619$       31,534,619$      44,542,987$    44,542,987$ 44,542,987$    ‐                        0.0% OPERATING REVENUES Taxes 79,228,239        55,343,673       79,899,075          56,220,827         82,127,220       57,677,839    63,075,671      5,397,832        9.4% Licenses & Permits 5,985,115           4,600,000          5,499,201             4,411,869            6,004,552          4,708,405       4,514,168         (194,237)            ‐4.1% Intergovernmental 4,210,533           2,729,182          4,162,854             2,916,798            4,744,483          2,898,610       3,513,832         615,222            21.2% Charges for Services 8,588,772           6,705,409          8,531,218             6,452,698            9,491,414          7,314,789       6,994,748         (320,041)            ‐4.4% Fines and Penalties 2,946,849           2,105,927          4,273,192             2,819,846            4,407,750          2,982,676       3,414,947         432,271            14.5% Miscellaneous 3,649,183           2,593,262          3,667,475             2,770,461            2,665,145          1,953,892       2,832,818         878,926            45.0% Other Financing Sources (Transfer‐In, etc) 124,517                102,541               (282,188)                (310,953)               12,962,782       6,125,403       6,130,641         5,238                  0.1% Total Operating Revenues 104,733,207     74,179,994       105,750,828       75,281,546         122,403,346    83,661,613    90,476,825      6,815,212        8.1% OPERATING EXPENDITURES Council 362,101                274,509               377,512                  286,754                414,410               314,480            272,542             41,938               13.3% Executive 1,954,748           1,426,031          2,073,371             1,502,893            2,658,306          1,932,907       1,806,865         126,042            6.5% Emergency Management 569,333                424,170               590,655                  447,452                703,487               528,605            460,428             68,177               12.9% City Attorney 2,088,718           1,559,146          2,216,692             1,653,554            2,393,230          1,785,829       1,747,999         37,830               2.1% Court Services 2,174,217           1,614,919          2,222,633             1,680,317            2,657,710          1,991,831       1,767,241         224,590            11.3% Community and Eco Dvlpmnt Admin 1,351,830           1,005,432          1,342,985             1,009,243            1,515,307          1,132,862       1,072,378         60,484               5.3% Development Services 3,023,728           2,334,025          3,032,130             2,207,592            3,433,532          2,574,992       2,320,862         254,130            9.9% Economic Development 949,467                702,684               837,638                  503,238                2,338,127          1,577,746       822,004             755,742            47.9% Planning 2,815,148           1,999,301          3,022,122             2,224,890            3,343,992          2,419,909       2,207,083         212,826            8.8% Finance 3,132,609           2,031,969          3,427,262             2,206,310            3,606,382          2,330,054       2,201,301         128,753            5.5% City Clerk 1,119,376           825,121               1,274,941             1,001,402            1,341,087          1,023,059       976,446             46,613               4.6% Human Resources 1,221,841           905,158               1,268,733             945,210                1,550,649          1,152,053       1,057,790         94,263               8.2% Police 30,987,047        23,142,221       33,764,563          24,101,953         36,985,051       26,985,092    26,010,388      974,704            3.6% Jail Services 4,807,443           3,605,285          5,970,673             4,478,493            6,239,267          4,679,561       4,324,595         354,966            7.6% Community Services Admin 1,421,803           861,988               1,522,994             1,037,471            1,577,176          1,017,314       894,984             122,330            12.0% Parks & Trails 4,926,587           3,604,092          5,026,203             3,789,267            5,411,908          4,020,197       3,937,676         82,521               2.1% Parks Planning & Natural Resources 1,059,058           758,713               1,114,153             823,279                2,495,194          1,816,380       1,074,756         741,624            40.8% Recreation & Neighborhoods 6,152,644           4,705,095          6,280,121             4,699,460            6,507,457          4,922,456       4,927,650         (5,194)                  ‐0.1% Human Services 1,634,387           940,189               1,421,280             968,760                1,507,974          942,068            985,889             (43,821)               ‐4.7% Museum 235,712                175,375               245,590                  184,064                252,298               188,417            189,253             (836)                      ‐0.4% Public Works Admin 406,781                306,988               417,786                  315,418                425,954               321,521            320,851             670                       0.2% Street Maintenance 5,603,141           4,250,178          5,676,989             4,031,310            5,894,373          4,327,448       4,112,362         215,086            5.0% Transportation 5,368,887           3,825,910          5,550,779             4,134,877            6,194,559          4,516,032       4,442,782         73,250               1.6% Non‐Departmental and Other 14,245,763        2,411,010          4,064,656             2,266,461            31,298,207       13,944,175    13,944,175       ‐                        0.0% Total Operating Expenditures 97,612,369        63,689,510       92,742,459          66,499,670         130,745,636    86,444,988    81,878,300      4,566,688        5.3% Total Ending Fund Balance 31,534,619$     34,904,266$    44,542,987$       40,316,495$      36,200,697$    41,759,611$ 53,141,512$   11,381,901$  27.3% Summary of Sources and Uses Annual Actual YTD Actual Favorable (Unfavorable) 2017 2018 2019 Variance Annual Actual YTD Actual Annual Budget YTD Budget YTD Actual      Monthly Financial Report September 2019  Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 2 of 18   OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through September 30, 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 (2) years.  The table on the previous page summarizes the general  governmental funds revenues and expenditures.    REVENUES    Taxes     Taxes comprise 70% of all resources supporting general governmental activities. Taxes are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Property Tax 8,057,487$      11,336,600$      11,505,822$   3,448,335$   42.8% 169,222$        1.5% Local Retail Sales Tax 21,301,362      20,461,763         21,109,167      (192,195)          ‐0.9%647,404           3.2% State Sales Tax Credit ‐ Annexation/LRF 1,619,553          ‐                                   84,916                 (1,534,637)      ‐94.8%84,916              100.0% Criminal Justice Sales Tax 2,269,957         2,121,140            2,411,546         141,589           6.2% 290,406           13.7% Natural Gas Use Tax 116,027              149,521                 185,365              69,338              59.8% 35,844              24.0% Admission Tax 177,613              197,499                 150,579              (27,034)             ‐15.2% (46,920)             ‐23.8% Utility Tax 12,424,162      12,029,807         11,754,728      (669,434)          ‐5.4% (275,079)          ‐2.3% Leasehold Excise Tax 130,789              129,403                 125,063              (5,726)                ‐4.4% (4,339)                ‐3.4% Gambling Excise Tax 2,019,983         1,438,704            2,254,277         234,293           11.6% 815,572           56.7% Real Estate Excise Tax ‐                                2,715,998            4,106,380         4,106,380      100.0% 1,390,382      51.2% B&O Tax 8,103,893         7,097,404            9,387,828         1,283,935      15.8% 2,290,424      32.3% YTD Total 56,220,827$   57,677,839$      63,075,671$   6,854,844$   12.2% 5,397,832$   9.4% Annual Total 79,899,075$   82,127,220$       Taxes by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through September     In the past, some taxes were allocated between the General Fund, Debt Service Fund, and Capital Project Funds. Beginning  in 2019, 100% of tax revenues are accounted for in the General Fund. For comparability purposes, the monthly tables  presented below are shown for total taxes received.    Property Tax  Property Tax revenues are budgeted based on the previous four (4) years’ collection rates. The 2019 property tax levy is  $878K more than 2018, which accounts for the majority of the increase over 2018. Year‐to‐date collections are 1.5% higher  than budget. The City is projecting Property Tax revenues to be around $21.2M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan (12,745)$           17,768$                 39,879$            52,624$           ‐412.9%22,111$           124.4% Feb 106,364            229,128                 192,217            85,853              80.7%(36,911)             ‐16.1% Mar 665,471            563,923                 764,729            99,258              14.9% 200,806           35.6% Apr 6,908,633        5,382,248            7,158,264        249,631           3.6% 1,776,016      33.0% May 2,419,925        4,168,250            2,852,933        433,008           17.9%(1,315,317)      ‐31.6% Jun 108,842            92,118                    (1,679,877)      (1,788,719)      ‐1643.4% (1,771,996)      ‐1923.6% Jul 90,072               317,474                 1,798,442        1,708,370      1896.7% 1,480,968      466.5% Aug 84,185               295,005                 61,965               (22,220)             ‐26.4% (233,040)          ‐79.0% Sep 196,536            270,686                 317,271            120,735           61.4% 46,584              17.2% Oct 7,077,878        4,494,739             ‐                               Nov 1,742,104        4,461,073             ‐                               Dec 76,196               592,841                  ‐                               YTD Total 10,567,283$  11,336,600$      11,505,822$  938,539$        8.9% 169,222$        1.5% Annual Total 19,463,461$  20,885,254$       *Total Property Tax (GF & DS) Property Tax* Year to Date through September Month 2019 vs. 2018 2019 vs. Budget   Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 3 of 18   Local Retail Sales Tax  Local Retail Sales Tax revenues are budgeted based on the collection rates for the past five (5) years. Collections at the end  of September are $192k lower than 2018, but are 3.2% above budget. The City is expecting Local Retail Sales Tax revenues to  be $28.3M by the end of the year. The monthly sales tax report provides additional detail on sales taxes by sector.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 2,217,949$     2,172,405$         2,260,685$     42,736$           1.9% 88,280$           4.1% Feb 2,839,044        2,602,634            2,758,295        (80,749)             ‐2.8%155,661           6.0% Mar 2,099,180        2,064,301            2,066,530        (32,650)             ‐1.6%2,229                 0.1% Apr 2,009,648        2,008,608            1,946,020        (63,628)             ‐3.2% (62,588)             ‐3.1% May 2,506,478        2,429,497            2,461,963        (44,515)             ‐1.8%32,466              1.3% Jun 1,997,751        2,105,242            2,060,512        62,761              3.1%(44,730)             ‐2.1% Jul 2,385,665        2,245,590            2,342,886        (42,779)             ‐1.8%97,296              4.3% Aug 2,573,863        2,475,019            2,832,719        258,856           10.1% 357,700           14.5% Sep 2,671,784        2,358,468            2,379,557        (292,227)          ‐10.9%21,089              0.9% Oct 2,438,390        2,413,738             ‐                               Nov 2,385,700        2,491,359             ‐                               Dec 2,303,183        2,317,209             ‐                               YTD Total 21,301,362$  20,461,763$      21,109,167$  (192,195)$       ‐0.9%647,404$        3.2% Annual Total 28,428,635$  27,684,069$       Local Retail Sales Tax Year to Date through September Month 2019 vs. 2018 2019 vs. Budget   Criminal Justice Sales Tax   King County imposes a 0.1% sales tax for criminal justice purposes (RCW 82.14.340) that is shared with the City on a per  capital basis. These revenues are 6.2% higher than last year and 13.7% higher than budget at the end of September. The City  is expecting Criminal Justice Sales Tax revenues to be $3.3M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 231,017$         217,524$              261,015$         29,998$           13.0% 43,491$           20.0% Feb 297,464            277,788                 305,574            8,110                 2.7% 27,786              10.0% Mar 222,831            210,667                 239,908            17,076              7.7% 29,240              13.9% Apr 210,116            199,844                 214,151            4,035                 1.9% 14,307              7.2% May 264,162            248,880                 276,361            12,199              4.6% 27,482              11.0% Jun 234,959            219,031                 252,414            17,456              7.4% 33,383              15.2% Jul 256,344            231,301                 273,016            16,672              6.5% 41,714              18.0% Aug 286,104            267,570                 304,404            18,300              6.4% 36,833              13.8% Sep 266,961            248,535                 284,704            17,743              6.6% 36,169              14.6% Oct 264,875            251,382                  ‐                               Nov 276,624            261,653                  ‐                               Dec 279,563            252,568                  ‐                               YTD Total 2,269,957$     2,121,140$         2,411,546$     141,589$        6.2% 290,406$        13.7% Annual Total 3,091,020$     2,886,744$          Criminal Justice Sales Tax Year to Date through September Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 4 of 18   Utility tax   Utility Tax revenues are underperforming in comparison to both 2018 and budget. Taxpayer changes to their method of  accounting for data charges (non‐taxable) has resulted in decreased taxable activity for cellular utilities. Natural Gas  difference from prior year is due to timing differences that will correct in October. The City is projecting Utility Tax revenues  to be about $15.7M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,380,809$     1,495,807$         1,228,645$     (152,164)$       ‐11.0% (267,162)$       ‐17.9% Feb 1,600,542        1,407,317            1,341,075        (259,467)          ‐16.2% (66,242)             ‐4.7% Mar 1,562,890        1,341,445            765,115            (797,776)          ‐51.0% (576,330)          ‐43.0% Apr 1,447,426        1,563,666            2,292,501        845,075           58.4% 728,835           46.6% May 1,399,812        1,386,171            1,295,860        (103,951)          ‐7.4% (90,311)             ‐6.5% Jun 1,258,549        1,268,379            1,179,491        (79,058)             ‐6.3% (88,888)             ‐7.0% Jul 1,389,799        1,225,268            1,340,108        (49,692)             ‐3.6%114,839           9.4% Aug 1,194,944        1,156,322            1,187,861        (7,084)                ‐0.6%31,538              2.7% Sep 1,189,390        1,185,431            1,124,073        (65,317)             ‐5.5% (61,358)             ‐5.2% Oct 1,283,609        1,504,221             ‐                               Nov 1,074,761        1,130,218             ‐                               Dec 1,441,094        1,397,907             ‐                               YTD Total 12,424,162$  12,029,807$      11,754,728$  (669,434)$       ‐5.4% (275,079)$       ‐2.3% Annual Total 16,223,626$  16,062,153$       2019 vs. Budget Utility Tax Year to Date through September Month 2019 vs. 2018     The table below breaks out Utility Tax by source:  2018 2019 2019 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Electrical 3,969,757$     4,075,017$         4,025,550$     55,794$      1.4% $    (49,467)‐1.2% Natural Gas 1,486,367        1,085,512            1,052,420        (433,947)      ‐29.2%        (33,092)‐3.1% Cell 965,100            1,209,712            562,855            (402,244)      ‐41.7%     (646,857)‐53.5% Phone 578,643            497,367                 643,359            64,716         11.2%       145,992 29.4% Cable 1,131,557        1,245,335            1,084,641        (46,916)         ‐4.2%     (160,694)‐12.9% Garbage 560,605            507,334                 620,545            59,940         10.7%       113,210 22.3% City Utilities 3,732,135        3,409,529            3,765,358        33,224         0.9%       355,830 10.4% YTD Total 12,424,162$  12,029,807$      11,754,728$  (669,434)$  ‐5.4%(275,079)$  ‐2.3% 2019 vs. 2018 2019 vs. Budget       Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 5 of 18   Gambling Tax  Gambling Tax revenue is 11.6% above 2018 and is 56.7% above budget.  The City is projecting Gambling Tax revenues to be  about $3.1M at the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 210,929$         156,146$              83,278$            (127,651)$       ‐60.5% (72,869)$          ‐46.7% Feb 255,285            164,992                 244,652            (10,633)             ‐4.2%79,660              48.3% Mar 245,283            154,213                 283,007            37,724              15.4% 128,795           83.5% Apr 275,795            179,219                 259,539            (16,256)             ‐5.9%80,321              44.8% May 222,540            170,531                 267,414            44,874              20.2% 96,883              56.8% Jun 252,663            175,721                 282,406            29,743              11.8% 106,686           60.7% Jul 255,351            175,771                 261,167            5,816                 2.3% 85,395              48.6% Aug 226,388            160,458                 291,657            65,269              28.8% 131,199           81.8% Sep 75,748               101,653                 281,157            205,409           271.2% 179,503           176.6% Oct 222,034            158,206                  ‐                               Nov 228,862            176,826                  ‐                               Dec 360,166            226,264                  ‐                               YTD Total 2,019,983$     1,438,704$         2,254,277$     234,293$        11.6% 815,572$        56.7% Annual Total 2,831,045$     2,000,000$          Gambling Excise Tax Year to Date through September Month 2019 vs. 2018 2019 vs. Budget    Real Estate Excise Tax  REET collections through September are behind 2018 figures by 12.9%, but are 51.2% higher than anticipated. The City is  projecting REET to be around $6M by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 840,316$         497,448$              748,462$         (91,854)$          ‐10.9%251,014$        50.5% Feb 366,011            187,141                 219,686            (146,325)          ‐40.0%32,545              17.4% Mar 291,045            266,167                 272,006            (19,039)             ‐6.5%5,839                 2.2% Apr 405,746            210,626                 430,070            24,324              6.0% 219,444           104.2% May 607,431            264,465                 456,154            (151,277)          ‐24.9%191,689           72.5% Jun 496,917            331,264                 444,031            (52,886)             ‐10.6%112,767           34.0% Jul 846,631            382,720                 529,539            (317,092)          ‐37.5%146,819           38.4% Aug 406,944            287,310                 472,051            65,107              16.0% 184,741           64.3% Sep 451,349            288,857                 534,381            83,032              18.4% 245,524           85.0% Oct 1,716,905        552,822                  ‐                               Nov 976,580            466,319                  ‐                               Dec 409,249            264,861                  ‐                               YTD Total 4,712,390$     2,715,998$         4,106,380$     (606,010)$       ‐12.9%1,390,382$   51.2% Annual Total 7,815,124$     4,000,000$          *Total REET (GF, DS, & CIP) Real Estate Excise Tax (REET)* Year to Date through September Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 6 of 18   Business & Occupation Tax  B&O Taxes are $95K less than 2018, but are $2.3M more than budget. The City is projecting B&O Taxes to be around $10.6M  by the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,301,574$     974,121$              919,391$         (382,183)$       ‐29.4% (54,730)$          ‐5.6% Feb 1,013,630        758,618                 1,317,771        304,141           30.0% 559,153           73.7% Mar 48,278               36,136                    105,983            57,705              119.5% 69,847              193.3% Apr 5,430,049        4,063,945            583,109            (4,846,940)      ‐89.3% (3,480,836)      ‐85.7% May 212,741            159,219                 4,272,007        4,059,266      1908.1% 4,112,788      2583.1% Jun 172,687            129,242                 11,365               (161,322)          ‐93.4% (117,877)          ‐91.2% Jul 840,839            629,299                 478,148            (362,691)          ‐43.1% (151,151)          ‐24.0% Aug 451,217            337,699                 1,654,529        1,203,312      266.7% 1,316,830      389.9% Sep 12,193               9,125                       45,525               33,332              273.4% 36,400              398.9% Oct 572,637            428,572                  ‐                               Nov 632,346            473,259                  ‐                               Dec 1,026                  768                            ‐                               YTD Total 9,483,208$     7,097,404$         9,387,828$     (95,380)$          ‐1.0%2,290,424$   32.3% Annual Total 10,689,217$  8,000,000$          *Total B&O (GF & CIP) Year to Date through September Month 2019 vs. 2018 2019 vs. Budget Business & Occupation Tax (B&O)*     Licenses and Permits    Licenses and Permits comprise 5% of all resources supporting general governmental activities. Licenses and Permits are  broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Amusement Licenses 4,470$                 11,897$                  ‐$                             (4,470)$            0.0%(11,897)$         0.0% Franchise Fees 1,142,521         1,229,013            1,137,582         (4,939)                ‐0.4% (91,431)             ‐7.4% Business Licenses 604,341              556,093                 916,603              312,262           51.7% 360,510           64.8% Animal Licenses 67,350                 72,699                    64,290                 (3,060)                ‐4.5% (8,409)                ‐11.6% Building Permits 2,571,867         2,797,341            2,364,873         (206,993)          ‐8.0% (432,468)          ‐15.5% ROW/Street Excavation Permits 20,120                 40,466                    30,770                 10,650              52.9%(9,696)                ‐24.0% Special Event Permits 1,200                    896                           50                           (1,150)                ‐95.8% (846)                     ‐94.4% YTD Total 4,411,869$      4,708,405$         4,514,168$      102,299$        2.3%(194,237)$       ‐4.1% Annual Total 5,499,201$      6,004,552$          Licenses & Permits by Type Year to Date through September Revenue 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 7 of 18   Business Licenses  Business license collections are 51.7% above 2018 and are 64.8% above budget. The City is projecting Business License  collections to be just over $1.1M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 327,143$      185,937$      281,106$      (46,037)$       ‐14.1%95,169$        51.2% Feb 130,035         90,383            348,391         218,356        167.9% 258,008        285.5% Mar 33,578            27,078            115,148         81,571           242.9% 88,070           325.2% Apr 27,803            61,252            60,577            32,774           117.9%(675)                  ‐1.1% May 29,033            50,703            34,260            5,227              18.0%(16,443)          ‐32.4% Jun 19,583            19,969            21,894            2,311              11.8% 1,925              9.6% Jul 13,430            62,681            15,985            2,555              19.0%(46,696)          ‐74.5% Aug 14,850            37,559            21,104            6,254              42.1%(16,456)          ‐43.8% Sep 8,889               20,531            18,139            9,250              104.1%(2,392)             ‐11.7% Oct 9,750               56,013             ‐                            Nov 7,950               29,021             ‐                            Dec 54,000            40,328             ‐                            YTD Total 604,341$      556,093$      916,603$      312,262$     51.7% 360,510$     64.8% Annual Total 676,041$      681,455$       Business Licenses Year to Date through September Month 2019 vs. 2018 2019 vs. Budget     Building Permits   Building permits are collected upon permit issuance. Building permits are underperforming compared to 2018 and budget.  This is due to a general slow‐down in the construction industry. The City is projecting Building Permits to be around $3M by  the end of the year.   2018 2019 2019 Actual Budget Actual $ % $ % Jan 188,207$      213,794$      203,502$      15,295$        8.1%(10,292)$       ‐4.8% Feb 184,749         191,533         240,102         55,353           30.0% 48,569           25.4% Mar 476,543         458,747         240,197         (236,346)       ‐49.6% (218,550)       ‐47.6% Apr 281,916         244,832         204,404         (77,512)          ‐27.5% (40,428)          ‐16.5% May 289,639         373,325         229,378         (60,261)          ‐20.8% (143,946)       ‐38.6% Jun 226,866         353,366         320,264         93,398           41.2%(33,102)          ‐9.4% Jul 370,717         292,072         277,680         (93,037)          ‐25.1% (14,391)          ‐4.9% Aug 311,562         356,187         281,848         (29,714)          ‐9.5% (74,339)          ‐20.9% Sep 241,667         313,485         367,497         125,830        52.1% 54,012           17.2% Oct 248,276         239,888          ‐                            Nov 178,199         266,691          ‐                            Dec 198,984         220,811          ‐                            YTD Total 2,571,867$  2,797,341$  2,364,873$  (206,993)$    ‐8.0% (432,468)$    ‐15.5% Annual Total 3,197,325$  3,524,731$   Building Permits Year to Date through September Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 8 of 18   Intergovernmental    Intergovernmental revenues comprise 4% of all resources supporting general governmental activities. Intergovernmental  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % State Shared Revenue 2,698,677$      2,438,884$         3,172,179$      473,503$        17.5% 733,295$        30.1% Federal Grants 124,383              232,819                 90,254                 (34,129)             ‐27.4% (142,565)          ‐61.2% State Grants 22,679                 24,827                    55,833                 33,154              146.2% 31,006              124.9% Local Grants 71,060                 202,080                 195,566              124,506           175.2%(6,514)                ‐3.2% YTD Total 2,916,798$      2,898,610$         3,513,832$      597,034$        20.5% 615,222$        21.2% Annual Total 4,162,854$      4,744,483$          Intergovernmental by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through September     State Shared Revenues  State shared revenues comprise 90% of total Intergovernmental revenues. They are over performing in comparison to both  2018 and budget. The City is projecting State Shared Revenues to be around $4.3M by the end of the year.   2018 2019 2019 ActualBudgetActual$%$% Jan 338,755$      330,916$      351,525$      12,771$        3.8% 20,610$        6.2% Feb 124,977         117,622         109,742         (15,235)          ‐12.2% (7,880)             ‐6.7% Mar 342,251         337,540         404,722         62,471           18.3% 67,182           19.9% Apr 348,999         340,307         371,513         22,514           6.5% 31,206           9.2% May 124,231         123,536         106,454         (17,777)          ‐14.3% (17,082)          ‐13.8% Jun 516,595         347,612         402,102         (114,494)       ‐22.2%54,490           15.7% Jul 343,127         342,604         765,393         422,266        123.1% 422,789        123.4% Aug 142,980         136,206         184,451         41,472           29.0% 48,245           35.4% Sep 416,763         362,542         476,278         59,515           14.3% 113,736        31.4% Oct 330,423         348,892          ‐                            Nov 178,271         148,169          ‐                            Dec 412,208         359,790          ‐                            YTD Total 2,698,677$  2,438,884$  3,172,179$  473,503$     17.5% 733,295$     30.1% Annual Total 3,619,579$  3,295,735$   State Shared Revenue Year to Date through September Month 2019 vs. 2018 2019 vs. Budget     State shared revenues are broken down as follows:  2018 2019 2019 Tax by Type YTD Actual YTD Budget YTD Actual$%$% Judicial Contribution 11,025$         11,308$         16,248$         5,223$           47.4% 4,940$           43.7% Crim Just ‐ High Crime 210,584         205,380         218,646         8,063              3.8% 13,267           6.5% Crim Just ‐ Pop 22,168            18,409            23,191            1,023              4.6% 4,782              26.0% Crim Just ‐ Spec Prog 80,183            82,117            83,510            3,327              4.2% 1,393              1.7% State DUI 11,387            13,349            11,038            (349)                  ‐3.1% (2,310)             ‐17.3% Marijuana Distribution 213,889          ‐                           157,631         (56,258)          ‐26.3%157,631        100.0% Liquor Profits 638,266         637,608         636,508         (1,757)             ‐0.3% (1,100)             ‐0.2% Liquor Excise Tax 378,373         357,272         416,253         37,880           10.0% 58,981           16.5% Fuel Tax 1,132,803     1,113,441     1,609,154     476,351        42.1% 495,713        44.5% YTD Total 2,698,677$  2,438,884$  3,172,179$  473,503$     17.5% 733,295$     30.1% 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 9 of 18   Charges for Services     Charges for Services revenues comprise 8% of all resources supporting general governmental activities. Charges for Services  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Passport Fees 41,945                 48,587                    26,115                 (15,830)             ‐37.7% (22,472)             ‐46.3% Court Services 31,607                 9,121                       46,102                 14,495              45.9% 36,981              405.5% General Government Services 1,117                    419                           1,798                    681                     60.9% 1,379                 329.1% Public Safety Services 823,074              589,185                 787,697              (35,377)             ‐4.3%198,513           33.7% Development Services 1,226,963         1,370,545            1,678,110         451,147           36.8% 307,565           22.4% Transportation Services 16,952                  ‐                                   17,144                 192                     1.1% 17,144              100.0% Recreation/Farmer's Market/Events 1,399,463         1,685,216            1,359,035         (40,428)             ‐2.9% (326,182)          ‐19.4% Interfund Services 2,911,577         3,611,716            3,078,748         167,170           5.7%(532,968)          ‐14.8% YTD Total 6,452,698$      7,314,789$         6,994,748$      542,050$        8.4%(320,041)$       ‐4.4% Annual Total 8,531,218$      9,491,414$          Year to Date through September Charges for Services by Type Revenue 2019 vs. 2018 2019 vs. Budget   Public Safety Services  Public Safety Services are comprised mostly of fees related to probation and sentence monitoring, record checks, animal  control, school resource officers, private security, and electronic home detention. These fees are 4.3% below 2018, but 33.7%  over budget. The City is projecting Public Safety Services to be around $1.1M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 226,185$      118,233$      70,666$         (155,519)$      ‐68.8% (47,567)$         ‐40.2% Feb 62,373            53,305            136,847         74,474            119.4% 83,543            156.7% Mar 83,547            94,518            85,070            1,523               1.8%(9,448)               ‐10.0% Apr 60,316            49,607            107,281         46,965            77.9% 57,674            116.3% May 78,265            58,160            65,972            (12,294)            ‐15.7%7,812               13.4% Jun 86,973            53,192            87,719            746                    0.9% 34,527            64.9% Jul 94,582            63,138            64,912            (29,670)            ‐31.4%1,774               2.8% Aug 50,729            44,399            74,892            24,163            47.6% 30,493            68.7% Sep 80,103            54,633            94,338            14,235            17.8% 39,705            72.7% Oct 188,188         97,909             ‐                            Nov 69,023            60,122             ‐                            Dec 143,016         93,619             ‐                            YTD Total 823,074$      589,185$      787,697$      (35,377)$         ‐4.3%198,513$      33.7% Annual Total 1,223,301$  840,835$       Public Safety Services Year to Date through September Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 10 of 18   Development Services  Development Services revenues are comprised of CED administrative, planning, and inspection fees. They are over performing  both 2018 and budget. The City is projecting Development Services revenues to be around $2.4M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 146,322$      180,713$      420,597$      274,275$      187.4% 239,885$      132.7% Feb 128,559         118,057         173,054         44,495            34.6% 54,997            46.6% Mar 155,996         151,183         92,524            (63,472)            ‐40.7% (58,659)            ‐38.8% Apr 150,656         129,799         160,164         9,508               6.3% 30,365            23.4% May 166,578         212,795         187,376         20,798            12.5%(25,419)            ‐11.9% Jun 151,555         183,838         172,337         20,782            13.7%(11,501)            ‐6.3% Jul 123,390         121,517         194,832         71,442            57.9% 73,315            60.3% Aug 125,834         167,768         110,056         (15,778)            ‐12.5% (57,712)            ‐34.4% Sep 78,072            104,875         167,170         89,098            114.1% 62,295            59.4% Oct 208,903         181,167          ‐                            Nov 234,811         231,382          ‐                            Dec 123,834         166,678          ‐                            YTD Total 1,226,963$  1,370,545$  1,678,110$  451,147$      36.8% 307,565$      22.4% Annual Total 1,794,511$  1,949,771$   Development Services Year to Date through September Month 2019 vs. 2018 2019 vs. Budget     Recreation/Farmer’s Market/Events  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 on the first day of the program. 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.  Deferred revenue at the end of September 2018, under the old revenue  recognition principles, was $104K; deferred revenue at the end of September 2019, under the new revenue recognition  principles, is $208K. The City is projecting Recreation revenues to be around $1.5M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 138,388$      165,057$      63,819$         (74,569)$         ‐53.9% (101,238)$      ‐61.3% Feb 51,694            51,177            81,045            29,351            56.8% 29,868            58.4% Mar 55,300            68,535            97,206            41,907            75.8% 28,672            41.8% Apr 70,321            82,391            75,539            5,219               7.4%(6,852)               ‐8.3% May 82,814            94,920            97,107            14,293            17.3% 2,187               2.3% Jun 191,108         195,529         84,351            (106,757)         ‐55.9% (111,177)         ‐56.9% Jul 419,790         512,222         290,648         (129,141)         ‐30.8% (221,574)         ‐43.3% Aug 313,627         395,088         373,240         59,613            19.0%(21,848)            ‐5.5% Sep 76,421            120,298         196,078         119,657         156.6% 75,781            63.0% Oct 72,092            68,810             ‐                            Nov 37,924            54,639             ‐                            Dec (104)                  26,025             ‐                            YTD Total 1,399,463$  1,685,216$  1,359,035$  (40,428)$         ‐2.9% (326,182)$      ‐19.4% Annual Total 1,509,375$  1,834,691$   Recreation/Farmer's Market/Events Year to Date through September Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 11 of 18   Interfund Services  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 majority  of the variance is due to Parks Planning and Natural Resource division not receiving budgeted reimbursement for salaries and  benefits of vacant capital project coordinator positions. The City is projecting Interfund Services revenues to be $4.1M at  year‐end.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 341,804$      412,545$      355,266$      13,461$         3.9%(57,279)$         ‐13.9% Feb 344,339         407,400         340,799         (3,540)               ‐1.0% (66,601)            ‐16.3% Mar 378,470         463,506         341,533         (36,937)            ‐9.8% (121,973)         ‐26.3% Apr 332,894         407,942         365,875         32,981            9.9%(42,067)            ‐10.3% May 328,765         405,632         342,950         14,185            4.3%(62,682)            ‐15.5% Jun 320,735         394,506         334,732         13,996            4.4%(59,775)            ‐15.2% Jul 236,427         338,145         302,849         66,422            28.1%(35,296)            ‐10.4% Aug 313,949         374,081         355,757         41,808            13.3%(18,324)            ‐4.9% Sep 314,193         407,958         338,986         24,793            7.9%(68,972)            ‐16.9% Oct 330,901         399,885          ‐                            Nov 332,981         398,370          ‐                            Dec 324,948         384,647          ‐                            YTD Total 2,911,577$  3,611,716$  3,078,748$  167,170$      5.7%(532,968)$      ‐14.8% Annual Total 3,900,407$  4,794,617$   Month 2019 vs. 2018 2019 vs. Budget Interfund Services Year to Date through September     Fines and Penalties    Fines and Penalties revenues comprise 4% of all resources supporting general governmental activities. Fines and Penalties  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 400,912$           458,709$              323,074$           (77,838)$          ‐19.4% (135,635)$       ‐29.6% Photo Enforcement Program 2,209,392         2,302,716            2,904,710         695,318           31.5% 601,994           26.1% Criminal Traffic Misdemeanor Fines 52,199                 59,205                    43,106                 (9,093)                ‐17.4% (16,099)             ‐27.2% Criminal Non‐Traffic Fines 58,177                 23,378                    56,778                 (1,398)                ‐2.4%33,400              142.9% Criminal Costs 73,046                 16,307                    55,332                 (17,713)             ‐24.2%39,025              239.3% Non‐Court Fines, Forfeitures and Penalties 26,121                 122,361                 31,946                 5,825                 22.3%(90,415)             ‐73.9% YTD Total 2,819,846$      2,982,676$         3,414,947$      595,101$        21.1% 432,271$        14.5% Annual Total 4,273,192$      4,407,750$          Year to Date through September Revenue 2019 vs. 2018 2019 vs. Budget Fines and Penalties by Type        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 12 of 18   Civil Penalties  Civil Penalties revenues are underperforming both 2018 and budget. The City is projecting Civil Penalties revenue to be  around $454K by the end of the year.  2018 2019 2019 ActualBudgetActual$%$% Jan ‐$                         ‐$                   ‐$                         ‐$                       N/A ‐$                       N/A Feb 48,523            54,118            38,594            (9,929)             ‐20.5% (15,524)          ‐28.7% Mar 91,564            80,593            85,052            (6,512)             ‐7.1%4,459              5.5% Apr ‐                           34,150            35,592            35,592           100.0% 1,441              4.2% May 40,831            49,265             ‐                           (40,831)         0.0%(49,265)         0.0% Jun 47,633            55,853            41,547            (6,086)             ‐12.8% (14,306)          ‐25.6% Jul 42,842            50,292            38,162            (4,679)             ‐10.9% (12,130)          ‐24.1% Aug 89,566            78,806            39,599            (49,967)          ‐55.8% (39,207)          ‐49.8% Sep 39,953            55,631            44,528            4,576              11.5%(11,103)          ‐20.0% Oct 53,371            58,618             ‐                            Nov 41,021            50,521             ‐                            Dec 37,736            77,353             ‐                            YTD Total 400,912$      458,709$      323,074$      (77,838)$       ‐19.4% (135,635)$    ‐29.6% Annual Total 533,040$      645,200$       Civil Penalties Year to Date through September Month 2019 vs. 2018 2019 vs. Budget     Photo Enforcement Program  Included in the Fines and Penalties annual revenue budget is $3.4M from the Photo Enforcement program. The program is  over performing both 2018 and budget. The City is projecting Photo Enforcement Program revenues to be around $4.3M by  the end of the year.   The associated costs include the equipment provided by American Traffic Solutions, Inc. (ATS), dedicated 2 FTE in the Court  Services Department to process the increased caseload.   18 Actual 19 Budget 19 Actual 2019 vs. 2018 18 Actual 19 Budget 19 Actual 19 Net Jan 136,853$         162,639$              214,193$         77,340$           25,705$         35,413$           27,802$           186,391$       Feb 154,588            187,840                 285,643            131,055           93,460            121,321           127,071           158,572          Mar 179,033            199,988                 399,499            220,466           93,469            121,318           127,058           272,441          Apr 122,862            174,391                 387,303            264,441           93,469            121,322           127,068           260,235          May 171,477            212,936                 280,350            108,873           93,463            121,316           127,067           153,283          Jun 155,145            231,485                 344,616            189,471           93,460            121,310           27,802              316,814          Jul 385,533            349,711                 387,738            2,205                 25,705            78,365              27,802              359,936          Aug 495,241            442,497                 303,087            (192,154)         115,458         135,269           325,588           (22,500)            Sep 408,660            341,229                 302,280            (106,379)         115,466         135,268           27,802              274,479          Oct 505,220            439,665                  ‐                               ‐115,469         135,268            ‐                              ‐                      Nov 404,192            354,895                  ‐                               ‐124,973         141,293            ‐                              ‐                      Dec 344,236            334,129                  ‐                               ‐224,231         247,161            ‐                              ‐                      YTD Total 2,209,392$     2,302,716$         2,904,710$     695,318$        749,652$      990,901$        945,060$        1,959,650$   Annual Total 3,463,040$     3,431,405$         1,214,324$  1,514,623$    Month Photo Enforcement Program Year to Date through September ExpensesRevenues          Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 13 of 18   Miscellaneous    Miscellaneous revenues comprise 3% of all resources supporting general governmental activities. Miscellaneous revenues  are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Interest and Other Investment Earnings 793,334$           518,328$              980,675$           187,341$        23.6% 462,346$        89.2% Rents, Leases, and Concessions 1,391,177         1,129,375            1,340,700         (50,477)             ‐3.6%211,325           18.7% Contributions/Donations from Private Source 148,524              107,655                 199,617              51,093              34.4% 91,961              85.4% Seizure Funds ‐ Federal/State/Local 245,888               ‐                                   71,467                 (174,421)          ‐70.9%71,467              100.0% Other 191,538              198,534                 240,360              48,822              25.5% 41,826              21.1% YTD Total 2,770,461$      1,953,892$         2,832,818$      62,358$           2.3% 878,926$        45.0% Annual Total 3,667,475$      2,665,145$          Year to Date through September Revenue 2019 vs. 2018 2019 vs. Budget Miscellaneous by Type     Interest and Other Investment Earnings  Interest and Other Investment Earnings revenue is over performing both 2018 and budget. The City is projecting Interest and  Other Investment Earnings revenue to be around $1.6M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 74,999$          48,801$          100,598$       25,599$        34.1% 51,797$          106.1% Feb 79,753             52,327             101,195          21,442           26.9% 48,868             93.4% Mar 88,282             56,401             118,607          30,325           34.4% 62,206             110.3% Apr 78,693             54,518             116,741          38,048           48.4% 62,223             114.1% May 92,472             59,602             106,701          14,229           15.4% 47,100             79.0% Jun 95,060             61,555             111,735          16,676           17.5% 50,181             81.5% Jul 95,410             61,720             112,442          17,032           17.9% 50,722             82.2% Aug 98,465             63,341             107,728          9,263              9.4% 44,387             70.1% Sep 90,201             60,063             104,927          14,726           16.3% 44,864             74.7% Oct 95,798             62,087              ‐                             Nov 98,832             63,461              ‐                             Dec 155,514          186,124           ‐                             YTD Total 793,334$       518,328$       980,675$       187,341$     23.6% 462,346$       89.2% Annual Total 1,143,478$  830,000$        Interest and Other Investment Earnings Year to Date through September Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 14 of 18   Rents, Leases, and Concessions  Rents, Leases, and Concessions revenue are under performing compared to 2018, but are over budget by 18.7%. The City is  projecting Rents, Leases, and Concessions revenue to be around $1.7M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 253,449$       207,331$       246,439$       (7,010)$           ‐2.8%39,108$          18.9% Feb 114,533          85,712             108,447          (6,086)              ‐5.3%22,735             26.5% Mar 126,253          102,476          113,106          (13,146)           ‐10.4%10,630             10.4% Apr 141,273          112,270          142,622          1,348              1.0% 30,352             27.0% May 101,465          95,256             119,918          18,454           18.2% 24,662             25.9% Jun 147,526          123,097          148,956          1,430              1.0% 25,859             21.0% Jul 229,026          165,385          162,221          (66,805)           ‐29.2% (3,164)               ‐1.9% Aug 147,450          131,861          160,683          13,232           9.0% 28,822             21.9% Sep 130,202          105,987          138,309          8,107              6.2% 32,322             30.5% Oct 127,684          110,757           ‐                             Nov 109,294          90,179              ‐                             Dec 92,869             92,742              ‐                             YTD Total 1,391,177$  1,129,375$  1,340,700$  (50,477)$        ‐3.6%211,325$       18.7% Annual Total 1,721,024$  1,423,053$   Rents, Leases, and Concessions Year to Date through September Month 2019 vs. 2018 2019 vs. Budget     EXPENSES    Overall, the City has expended 62.6% of its budgeted general governmental expenditures at the end of September.  This is  $4.6M or 5.3% below year‐to‐date budgeted expenditures.      The Recreation & Neighborhoods division is over the year‐to‐date budget by $5K or .1%. There is not a specifically identifiable  reason for the overage; it is a combination of small things. We will continue to monitor this in conjunction with Recreation  management. Recreation program activity slows in the fall and winter months, which allows for conservative spending where  needed to manage the budget. The City is not projecting Recreation & Neighborhoods to be over budget at the end of the  year.    The Human Services division is over the year‐to‐date budget by $44K or 4.7%. This is due to the timing of payments under  the CDBG Healthy Housing Program. The City is not projecting the Human Services Division to be over budget at the end of  the year.    The Museum is over the year‐to‐date budget by $836 or .4%. This is due to the increased use/cost of part‐time staff. Use of  part‐time staff is variable depending on staffing needs and is easily managed. The City is not projecting the Museum to be  over budget at the end of the year.                     Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 15 of 18   ENTERPRISE FUNDS  The table below gives an analysis of all City Enterprise funds.  Displayed are the year‐to‐date revenues and expenditures for  each enterprise.  Included in each funds are the capital revenues and expenditures.  Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                    ‐$                    ‐$                    ‐$                   88,629$           ‐              40,200$           Grants / intergovernmental 214,009          167,153           ‐                      ‐                      ‐                      ‐                  1,018,172        Charges for services 222,066          15,248,045     1,672,980       13,446,578     8,161,330       12,992,972 8,825,367        Interdepartmental services ‐                      ‐                      ‐                      ‐                      ‐                      ‐                   ‐                      Fines and penalties 617                  ‐                      ‐                      ‐                     616                  ‐                   ‐                      Rents, leases, and misc fees 2,129,042        ‐                     385,657          157,766           ‐                      ‐                   ‐                      Interest and other misc 58,030            24,241            6,773              785,585          631,645          61,852        541,532           TOTAL REVENUES 2,623,764       15,439,439     2,065,410       14,389,929     8,882,220       13,054,824 10,425,271      EXPENSES: Utility billing ‐                     31,977             ‐                     123,231          100,209           ‐                  152,441           Utility systems ‐                     14,334,659      ‐                     3,336,752       2,943,085        ‐                  2,828,237        Utility maintenance ‐                     290,632           ‐                     4,461,430       1,631,940       12,674,889 2,360,790        Transportation 1,561,372        ‐                      ‐                      ‐                      ‐                      ‐                   ‐                      Golf ‐                      ‐                     1,780,555        ‐                      ‐                      ‐                   ‐                      TOTAL EXPENSES 1,561,372       14,657,268     1,780,555       7,921,413       4,675,234       12,674,889 5,341,468        AMOUNT AVAILABLE FOR DEBT  SERVICE 1,062,392       782,171          284,855          6,468,516       4,206,986       379,935      5,083,803        DEBT SERVICE: Principal ‐                      ‐                      ‐                     345,818           ‐                      ‐                   ‐                      Interest ‐                      ‐                      ‐                     111,973          47,859             ‐                  446,084           TOTAL DEBT SERVICE ‐                      ‐                      ‐                     457,791          47,859             ‐                  446,084           CAPITAL PROJECTS 163,586           ‐                     14,140            3,352,288       2,519,251        ‐                  2,204,024        TRANSFERS IN ‐                      ‐                     54,000             ‐                     28,356             ‐                  6,378               TRANSFERS (OUT)‐                      ‐                     (54,000)           ‐                     (768)                ‐                  (846)                TOTAL TRANSFERS ‐                      ‐                      ‐                      ‐                     27,588             ‐                  5,532               CHANGE IN FUND BALANCE 898,806          782,171          270,715          2,658,437       1,667,464       379,935      2,439,227        BEGINNING FUND BALANCE, Jan 1 4,985,377       2,276,333       110,812          38,002,973     18,879,201     5,512,418   16,356,030      ENDING FUND BALANCE, Sep 30 5,884,183$     3,058,504$     381,527$        40,661,410$   20,546,665$   5,892,353$ 18,795,257$          Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 16 of 18   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 Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                 ‐$                  253,545$      ‐$                  ‐$                       ‐$                 ‐$                   Grants / intergovernmental ‐                   ‐                     ‐                   ‐                    ‐                         ‐                  35,898           Charges for services: Equipment rental m&o 1,827,254    ‐                    3,724,303     ‐                    ‐                         ‐                   ‐                     Telecommunications ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Print and mail ‐                   ‐                     ‐                   ‐                   335,181              ‐                   ‐                     Communications ‐                   ‐                    14,714          ‐                   493,419              ‐                   ‐                     Facilities ‐                   ‐                     ‐                  3,224,105     ‐                         ‐                   ‐                     Data cards and cell phones ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     IT service contracts ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Geographical information systems ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Interest and other misc 64,930        189,539        40,118         12,659         7,025                 46,324         147,216         Internal service fund misc: Vehicle / equipment capital recovery 2,014,934    ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Insurance premiums ‐                  1,266,496      ‐                   ‐                    ‐                         ‐                   ‐                     Worker's comp/unemployment ‐                  1,112,974      ‐                   ‐                    ‐                         ‐                   ‐                     Benefit premiums ‐                   ‐                     ‐                   ‐                    ‐                        7,607,443    1,968,512      Other misc 4,517           ‐                    690              111,189       425                    764,317        ‐                     Interfund Loan ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Capital contributions ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Disposal of capital assets 57,551         ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Insurance recoveries ‐                  126,456         ‐                   ‐                    ‐                         ‐                   ‐                     TOTAL REVENUES 3,969,186   2,695,465     4,033,370    3,347,953    836,050             8,418,084    2,151,626      EXPENSES: Communications ‐                   ‐                     ‐                   ‐                   420,521              ‐                   ‐                     Equipment rental 2,127,323    ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Facilities ‐                   ‐                     ‐                  3,754,920     ‐                         ‐                   ‐                     Healthcare ‐                   ‐                     ‐                   ‐                    ‐                        7,369,199     ‐                     Information technology ‐                   ‐                    3,789,137     ‐                    ‐                         ‐                   ‐                     Print and mail ‐                   ‐                     ‐                   ‐                   328,088              ‐                   ‐                     Retiree healthcare ‐                   ‐                     ‐                   ‐                    ‐                         ‐                  688,268         Risk management: Risk management ‐                  1,255,662      ‐                   ‐                    ‐                         ‐                   ‐                     Unemployment ‐                  40,342           ‐                   ‐                    ‐                         ‐                   ‐                     Worker's compensation ‐                  552,749         ‐                   ‐                    ‐                         ‐                   ‐                     TOTAL EXPENSES 2,127,323   1,848,753     3,789,137    3,754,920    748,609             7,369,199    688,268         AMOUNT AVAILABLE FOR CAPITAL 1,841,863   846,712        244,233       (406,967)      87,441               1,048,885    1,463,358      CAPITAL PROJECTS 2,722,425    ‐                    211,979       10,901          ‐                         ‐                   ‐                     TRANSFERS IN ‐                   ‐                    47,627         12,389          ‐                         ‐                   ‐                     TRANSFERS (OUT)‐                   ‐                     ‐                  (5,220)           ‐                         ‐                   ‐                     TOTAL TRANSFERS ‐                   ‐                    47,627         7,169            ‐                         ‐                   ‐                     CHANGE IN FUND BALANCE (880,562)     846,712        79,881         (410,699)      87,441               1,048,885    1,463,358      BEGINNING FUND BALANCE, Jan 1 6,493,018   18,522,154   3,934,408    1,376,859    685,593             4,259,511    13,876,628    ENDING FUND BALANCE, Sep 30 5,612,456$ 19,368,866$ 4,014,289$  966,160$     773,034$           5,308,396$  15,339,986$    Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 17 of 18   FUND BALANCE  Page 18 shows the ending fund balance as of September 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 September, the City has $53.1M reported in the combined general governmental fund balance of the current  year’s operating budget, which is approximately 40.6% of budgeted operating expenditures.  This is an increase of $8.6M  from the year’s beginning balance.  September’s ending fund balance is over the anticipated General Governmental Fund  Balance of $42M by $11.4M or 27.3%.  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 mbaker@rentonwa.gov or jhawn@rentonwa.gov.    Monthly Financial Report                                                               City of Renton, Washington September 2019  Page 18 of 18   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through September 30, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  09/30/19 Total Funds  Available Budgeted  Expenditure Expenditure  09/30/19 Ending Balance GENERAL FUND: 44,542,987          122,403,346        90,476,825          135,019,812        130,745,636        81,878,300          53,141,512           SPECIAL REVENUE FUNDS: 1,875,558            1,120,674            599,755               2,475,313            1,412,904            529,572               1,945,741             102 Arterial Street 163,671               700,000                ‐                           163,671               700,000               163,671                ‐                            110 Hotel Motel 722,387               225,000               402,470               1,124,857            406,547               201,644               923,213                125 Municipal Art 119,446               98,000                 83,902                 203,348               200,683               123,813               79,535                  127 Cable Communication 529,159               97,674                 110,018               639,177               105,674               40,444                 598,733                135 Springbrook Wetlands Bank 340,895                ‐                           3,365                   344,260                ‐                            ‐                           344,260                DEBT SERVICE FUND: 2,307,173            7,805,569            4,225,433            6,532,606            7,914,936            1,213,266            5,319,340             CAPITAL PROJECT FUNDS (CIP): 39,310,931          66,827,984          29,691,414          69,002,345          87,183,116          12,167,478          56,834,867           303 Community Services Mitigation 2,578,256            86,500                 348,626               2,926,882            1,629,000             ‐                           2,926,882             305 Transportation Mitigation 3,332,524            1,020,000            1,625,893            4,958,417            2,700,000             ‐                           4,958,417             316 Municipal Facilities CIP 20,675,238          23,354,715          15,657,397          36,332,635          41,657,287          8,180,976            28,151,659           317 Transportation CIP 5,492,313            37,291,769          11,946,878          17,439,191          41,036,073          3,588,766            13,850,425           326 Housing Opportunity 2,582,203             ‐                           26,816                 2,609,019            47,400                 42,984                 2,566,035             336 New Library Development 456,591                ‐                           3,553                   460,144                ‐                            ‐                           460,144                346 New Family First Center Dvlpmnt 4,193,806            5,075,000            82,251                 4,276,057            113,356               354,752               3,921,305             ENTERPRISE FUNDS: 86,123,144          93,153,914          66,969,591          153,092,735        146,588,143        57,872,836          95,219,899           4X2 Airport Operating & CIP 4,985,377            3,298,685            2,623,764            7,609,141            7,907,470            1,724,958            5,884,183             403 Solid Waste Utility 2,276,333            19,512,021          15,439,439          17,715,772          19,400,701          14,657,268          3,058,504             4X4 Golf Operating & CIP 110,812               2,445,053            2,119,410            2,230,222            2,346,727            1,848,695            381,527                4X5 Water Operating & CIP 38,002,973          18,841,192          14,389,929          52,392,902          48,759,844          11,731,492          40,661,410           4X6 Waste Water Operating & CIP 18,879,201          11,582,615          8,910,576            27,789,777          24,716,488          7,243,112            20,546,665           416 King County Metro 5,512,418            16,922,613          13,054,824          18,567,242          16,922,613          12,674,889          5,892,353             4X7 Surface Water Operating & CIP 16,356,030          20,551,735          10,431,649          26,787,679          26,534,300          7,992,422            18,795,257           INTERNAL SERVICE FUNDS: 49,148,171          35,770,284          25,511,750          74,659,921          40,045,617          23,276,734          51,383,187           501 Equipment Repair/Replacement 6,493,018            7,695,395            3,969,186            10,462,204          9,030,476            4,849,748            5,612,456             502 Insurance 18,522,154          3,343,143            2,695,465            21,217,619          4,214,868            1,848,753            19,368,866           503 Information Services 3,934,408            6,054,593            4,080,997            8,015,405            7,558,374            4,001,116            4,014,289             504 Facilities 1,376,859            5,302,302            3,360,342            4,737,201            5,507,965            3,771,041            966,160                505 Communications 685,593               1,105,816            836,050               1,521,643            1,100,667            748,609               773,034                512 Insurance, Healthcare 4,259,511            11,027,762          8,418,084            12,677,595          11,655,086          7,369,199            5,308,396             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            2,151,626            16,028,254          978,181               688,268               15,339,986           FIDUCIARY FUNDS: 7,146,983            468,000               218,243               7,365,226            210,475               145,916               7,219,310             304 Fire Mitigation 1,455,669            99,000                 743,878               2,199,547            128,576                ‐                           2,199,547             611 Firemen's Pension 7,146,983            468,000               218,243               7,365,226            210,475               145,916               7,219,310             TOTAL FUNDS 231,910,616     327,648,771     218,436,889     450,347,505     414,229,403     177,084,102     273,263,403