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HomeMy WebLinkAbout201910, October h:\finance\financial reporting\monthly reports\2019 reports\cover 1019.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: December 3, 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: October 2019 Financial Status Report       At the end of October, general governmental revenues show $9.4M or 9.2 % over budget.   Revenue source(s) that are higher than expected are:      Property Tax ‐ $2.7M (pg 2)   Local Retail Sales Tax  ‐ $599K (pg 3)   State Sales Tax Credit – Annexation/LRF ‐ $168K (pg 3)   Criminal Justice Sales Tax ‐ $315K (pg 4)   Gambling Excise Tax ‐ $877K (pg 5)   Real Estate Excise Tax ‐ $1.2M (pg 5)   B&O Tax ‐ $2.7M (pg 6)   Business Licenses ‐ $319K (pg 7)   State Shared Revenue ‐ $850K (pg 9)   Public Safety Services ‐ $223K (pg 10)   Development Services ‐ $278K (pg 10)   Photo Enforcement Program ‐ $556K (pg 13)   Interest and Other Investment Earnings ‐ $503K (pg 14)   Rents, Leases, and Concessions ‐ $219K (pg 14)   Contributions/Donations from Private Sources ‐ $113K (pg 15)       Don Persson, Council President  Members of Renton City Council  Page 2 of 2  December 3, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 1019.docx   On the down side, the revenue source(s) that are underperforming the year to date  budget are:      Utility Tax ‐ $530K (pg 4)   Franchise Fees ‐ $131K (pg 7)   Building Permits ‐ $400K (pg 8)   Recreation/Farmer’s Market/Events ‐ $320K (pg 11)   Interfund Services ‐ $531K (pg 11)   Civil Penalties ‐ $160K (pg 12)    General government expenditures showed a favorable variance of $4.3M or 4.1%. See  page 15 of report for further expenditure over‐spent 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 19   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        63,473,669       79,899,075          68,139,023         82,127,220       67,520,666    75,501,131      7,980,465        11.8% Licenses & Permits 5,985,115           5,306,496          5,499,201             5,026,958            6,004,552          5,404,385       5,160,222         (244,163)            ‐4.5% Intergovernmental 4,210,533           3,142,864          4,162,854             3,299,141            4,744,483          3,347,914       3,994,590         646,676            19.3% Charges for Services 8,588,772           7,274,886          8,531,218             7,257,506            9,491,414          8,067,135       7,755,621         (311,514)            ‐3.9% Fines and Penalties 2,946,849           2,380,172          4,273,192             3,401,905            4,407,750          3,511,144       3,885,914         374,770            10.7% Miscellaneous 3,649,183           2,856,507          3,667,475             3,048,568            2,665,145          2,152,347       3,108,865         956,518            44.4% Other Financing Sources (Transfer‐In, etc) 124,517                108,951               (282,188)                (310,953)               12,962,782       11,992,736    11,997,956      5,220                  0.0% Total Operating Revenues 104,733,207     84,543,545       105,750,828       89,862,148         122,403,346    101,996,326 111,404,299   9,407,973        9.2% OPERATING EXPENDITURES Council 362,101                303,126               377,512                  316,061                414,410               346,935            299,376             47,559               13.7% Executive 1,954,748           1,596,730          2,073,371             1,688,997            2,658,306          2,168,374       2,002,622         165,752            7.6% Emergency Management 569,333                473,196               590,655                  495,926                703,487               587,735            515,491             72,244               12.3% City Attorney 2,088,718           1,734,835          2,216,692             1,842,222            2,393,230          1,988,363       1,950,811         37,552               1.9% Court Services 2,174,217           1,796,548          2,222,633             1,862,442            2,657,710          2,211,705       1,974,766         236,939            10.7% Community and Eco Dvlpmnt Admin 1,351,830           1,116,598          1,342,985             1,120,366            1,515,307          1,257,856       1,190,154         67,702               5.4% Development Services 3,023,728           2,598,327          3,032,130             2,486,072            3,433,532          2,882,737       2,600,464         282,273            9.8% Economic Development 949,467                754,788               837,638                  597,205                2,338,127          1,768,854       897,628             871,226            49.3% Planning 2,815,148           2,215,869          3,022,122             2,486,911            3,343,992          2,694,077       2,484,823         209,254            7.8% Finance 3,132,609           2,272,237          3,427,262             2,473,236            3,606,382          2,608,891       2,445,284         163,607            6.3% City Clerk 1,119,376           896,304               1,274,941             1,083,246            1,341,087          1,108,771       1,061,249         47,522               4.3% Human Resources 1,221,841           1,017,040          1,268,733             1,057,639            1,550,649          1,291,710       1,187,439         104,271            8.1% Police 30,987,047        25,475,625       33,764,563          26,602,451         36,985,051       29,746,136    29,320,351      425,785            1.4% Jail Services 4,807,443           4,006,546          5,970,673             4,975,925            6,239,267          5,199,799       4,805,182         394,617            7.6% Community Services Admin 1,421,803           963,697               1,522,994             1,158,848            1,577,176          1,136,793       1,027,669         109,124            9.6% Parks & Trails 4,926,587           4,019,186          5,026,203             4,244,795            5,411,908          4,493,604       4,451,800         41,804               0.9% Parks Planning & Natural Resources 1,059,058           841,880               1,114,153             904,771                2,495,194          2,005,435       1,173,895         831,540            41.5% Recreation & Neighborhoods 6,152,644           5,170,023          6,280,121             5,165,507            6,507,457          5,409,739       5,399,815         9,924                  0.2% Human Services 1,634,387           1,125,006          1,421,280             1,145,171            1,507,974          1,120,334       1,185,653         (65,319)               ‐5.8% Museum 235,712                195,468               245,590                  204,541                252,298               209,684            210,333             (649)                      ‐0.3% Public Works Admin 406,781                340,310               417,786                  349,485                425,954               356,333            355,346             987                       0.3% Street Maintenance 5,603,141           4,698,648          5,676,989             4,554,324            5,894,373          4,835,092       4,620,473         214,619            4.4% Transportation 5,368,887           4,215,981          5,550,779             4,588,495            6,194,559          4,994,644       5,009,091         (14,447)               ‐0.3% Non‐Departmental and Other 14,245,763        2,637,698          4,064,656             2,524,777            31,298,207       22,419,345    22,419,345       ‐                        0.0% Total Operating Expenditures 97,612,369        70,465,662       92,742,459          73,929,412         130,745,636    102,842,947 98,589,060      4,253,887        4.1% Total Ending Fund Balance 31,534,619$     38,491,664$    44,542,987$       47,467,356$      36,200,697$    43,696,366$ 57,358,226$   13,661,860$  31.3% 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 October 2019  Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 2 of 19   OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through October 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 (2) years.  The table on the previous page summarizes the general  governmental funds revenues and expenditures.    REVENUES    Taxes     Taxes comprise 68% of all resources supporting general governmental activities. Taxes are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Property Tax 15,135,365$   15,831,340$      18,502,198$   3,366,833$     22.2% 2,670,858$     16.9% Local Retail Sales Tax 23,739,752      22,875,501         23,474,440      (265,313)            ‐1.1%598,938            2.6% State Sales Tax Credit ‐ Annexation/LRF 1,619,553          ‐                                   168,073              (1,451,480)       ‐89.6%168,073            100.0% Criminal Justice Sales Tax 2,534,833         2,372,523            2,687,217         152,384            6.0% 314,694            13.3% Natural Gas Use Tax 124,635              159,317                 197,990              73,354               58.9% 38,672               24.3% Admission Tax 223,910              224,249                 194,662              (29,248)               ‐13.1% (29,587)               ‐13.2% Utility Tax 13,707,772      13,534,028         13,003,724      (704,048)            ‐5.1% (530,304)            ‐3.9% Leasehold Excise Tax 134,656              132,002                 129,571              (5,085)                  ‐3.8% (2,431)                  ‐1.8% Gambling Excise Tax 2,242,017         1,596,911            2,474,309         232,292            10.4% 877,399            54.9% Real Estate Excise Tax ‐                                3,268,820            4,490,536         4,490,536        100.0% 1,221,716        37.4% B&O Tax 8,676,530         7,525,976            10,178,413      1,501,883        17.3% 2,652,437        35.2% YTD Total 68,139,023$   67,520,666$      75,501,131$   7,362,109$     10.8% 7,980,465$     11.8% Annual Total 79,899,075$   82,127,220$       Taxes by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through October     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  $1.9M more than 2018, which accounts for the majority of the 4.9% increase in collections over 2018. Year‐to‐date collections  are 16.9% higher than budget. The City is projecting Property Tax revenues to be around $21.3M 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            6,996,376        (81,502)             ‐1.2%2,501,636      55.7% Nov 1,742,104        4,461,073             ‐                               Dec 76,196               592,841                  ‐                               YTD Total 17,645,161$  15,831,340$      18,502,198$  857,037$        4.9% 2,670,858$   16.9% Annual Total 19,463,461$  20,885,254$       *Total Property Tax (GF & DS) Property Tax* Year to Date through October Month 2019 vs. 2018 2019 vs. Budget   Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 3 of 19   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 October are $265k lower than 2018, but are 2.6% 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            2,365,273        (73,117)             ‐3.0% (48,465)             ‐2.0% Nov 2,385,700        2,491,359             ‐                               Dec 2,303,183        2,317,209             ‐                               YTD Total 23,739,752$  22,875,501$      23,474,440$  (265,313)$       ‐1.1%598,938$        2.6% Annual Total 28,428,635$  27,684,069$       Local Retail Sales Tax Year to Date through October Month 2019 vs. 2018 2019 vs. Budget   State Sales Tax Credit – Annexation/Local Revitalization Financing (LRF)  In the past, the City received annexation sales tax credit revenues to offset the service costs of annexing the Benson Hill area.  This sales tax credit expired on June 30, 2018. Beginning July 1, 2019, Ordinance No. 5925 imposed a local option sales and  use tax (credited against the State sales tax) for the purposes of making debt service payments on bonds issued to finance  capital improvements within the designated South Lake Washington Local Revitalization Area (RCW 39.104). The budget for  the LRF sales tax credit will be reflected in the November monthly financial report once the mid‐biennial budget adjustment  has been adopted.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 263,143$          ‐$                           ‐$                           (263,143)$      0.0%‐$                          N/A Feb 336,895             ‐                                    ‐                              (336,895)         0.0%‐                             N/A Mar 248,486             ‐                                    ‐                              (248,486)         0.0%‐                             N/A Apr 238,323             ‐                                    ‐                              (238,323)         0.0%‐                             N/A May 295,641             ‐                                    ‐                              (295,641)         0.0%‐                             N/A Jun 237,066             ‐                                    ‐                              (237,066)         0.0%‐                             N/A Jul ‐                               ‐                                    ‐                               ‐                             N/A ‐                             N/A Aug ‐                               ‐                                   819                       819                     100.0% 819                     100.0% Sep ‐                               ‐                                   84,098               84,098              100.0% 84,098              100.0% Oct ‐                               ‐                                   83,156               83,156              100.0% 83,156              100.0% Nov ‐                               ‐                                    ‐                               Dec ‐                               ‐                                    ‐                               YTD Total 1,619,553$      ‐$                          168,073$         (1,451,480)$   ‐89.6%168,073$        100.0% Annual Total 1,619,553$      ‐$                                 Year to Date through October State Sales Tax Credit ‐ Annexation/LRF Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 4 of 19   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% higher than last year and 13.3% higher than budget at the end of October. 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                 275,670            10,795              4.1% 24,288              9.7% Nov 276,624            261,653                  ‐                               Dec 279,563            252,568                  ‐                               YTD Total 2,534,833$     2,372,523$         2,687,217$     152,384$        6.0% 314,694$        13.3% Annual Total 3,091,020$     2,886,744$          Criminal Justice Sales Tax Year to Date through October Month 2019 vs. 2018 2019 vs. Budget   Utility tax   Utility Tax revenues are underperforming in comparison to both 2018 and budget. Taxpayer changes to their method of  accounting for data charges has resulted in decreased taxable activity for cellular utilities. Electrical and Natural Gas utility  taxes are decreasing as consumers move toward more efficient appliances. Cable utility taxes are decreasing as consumers  are shifting away from traditional cable and to online streaming services. The City is projecting Utility Tax revenues to be  about $15.4M 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            1,248,996        (34,613)             ‐2.7% (255,225)          ‐17.0% Nov 1,074,761        1,130,218             ‐                               Dec 1,441,094        1,397,907             ‐                               YTD Total 13,707,772$  13,534,028$      13,003,724$  (704,047)$       ‐5.1% (530,303)$       ‐3.9% Annual Total 16,223,626$  16,062,153$       Utility Tax Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     The table below breaks out Utility Tax by source:  2018 2019 2019 Tax by Type YTD Actual YTD Budget YTD Actual $ % $ % Electrical 4,695,961$     4,642,053$         4,396,976$     (298,985)$   ‐6.4% $ (245,077)‐5.3% Natural Gas 1,212,673        1,167,987            1,107,911        (104,762)      ‐8.6%        (60,076)‐5.1% Cell 1,043,286        1,348,527            658,484            (384,802)      ‐36.9%     (690,042)‐51.2% Phone 654,754            567,550                 701,567            46,813         7.1%       134,017 23.6% Cable 1,262,555        1,392,800            1,210,756        (51,799)         ‐4.1%     (182,044)‐13.1% Garbage 620,377            560,667                 678,680            58,304         9.4%       118,014 21.1% City Utilities 4,218,165        3,854,445            4,249,350        31,185         0.7%       394,905 10.3% YTD Total 13,707,772$  13,534,028$      13,003,724$  (704,047)$  ‐5.1%(530,303)$  ‐3.9% 2019 vs. 2018 2019 vs. Budget   Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 5 of 19   Gambling Tax  Gambling Tax revenue is 10.4% above 2018 and is 54.9% 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                 220,033            (2,002)                ‐0.9%61,826              39.1% Nov 228,862            176,826                  ‐                               Dec 360,166            226,264                  ‐                               YTD Total 2,242,017$     1,596,911$         2,474,309$     232,292$        10.4% 877,399$        54.9% Annual Total 2,831,045$     2,000,000$          Gambling Excise Tax Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     Real Estate Excise Tax  REET collections through October are behind 2018 figures by 30.2%, but are 37.4% higher than anticipated. The City is  projecting REET to be around $5.5M 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                 384,156            (1,332,749)      ‐77.6% (168,667)          ‐30.5% Nov 976,580            466,319                  ‐                               Dec 409,249            264,861                  ‐                               YTD Total 6,429,295$     3,268,820$         4,490,536$     (1,938,759)$   ‐30.2%1,221,716$   37.4% Annual Total 7,815,124$     4,000,000$          *Total REET (GF, DS, & CIP) Real Estate Excise Tax (REET)* Year to Date through October Month 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 6 of 19   Business & Occupation Tax  B&O Taxes are $123K more than 2018, and are $2.7M more than budget. The City is projecting B&O Taxes to be around  $10.8M 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                 790,586            217,949           38.1% 362,014           84.5% Nov 632,346            473,259                  ‐                               Dec 1,026                  768                            ‐                               YTD Total 10,055,845$  7,525,976$         10,178,413$  122,568$        1.2% 2,652,437$   35.2% Annual Total 10,689,217$  8,000,000$          *Total B&O (GF & CIP) Year to Date through October 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 4,980$                 13,969$                  ‐$                             (4,980)$              0.0%(13,969)$           0.0% Franchise Fees 1,488,715         1,615,084            1,483,693         (5,021)                  ‐0.3% (131,391)            ‐8.1% Business Licenses 614,091              612,106                 930,726              316,635            51.6% 318,620            52.1% Animal Licenses 76,160                 82,671                    71,460                 (4,700)                  ‐6.2% (11,211)               ‐13.6% Building Permits 2,820,142         3,037,229            2,636,938         (183,205)            ‐6.5% (400,292)            ‐13.2% ROW/Street Excavation Permits 21,620                 42,385                    35,495                 13,875               64.2%(6,890)                  ‐16.3% Special Event Permits 1,250                    940                           1,910                    660                       52.8% 970                       103.1% YTD Total 5,026,958$      5,404,385$         5,160,222$      133,264$         2.7%(244,163)$         ‐4.5% Annual Total 5,499,201$      6,004,552$          Licenses & Permits by Type Year to Date through October Revenue 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 7 of 19   Franchise Fees  Franchise fee collections are underperforming in comparison to 2018 and budget. The year‐to‐date collections are only $5K  less than 2018, but they are $131K less than budget. One customer comprises over 80% of the City’s franchise fee revenue.  Franchise fees related to their account has decreased by 5.6% and is accounting for the majority of the budget difference.  The City is projecting franchise fees to be around $1.5M by the end of the year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 371,458$      402,667$      36,388$         (335,070)$    ‐90.2% (366,278)$    ‐91.0% Feb 16,600            12,257            342,814         326,214        1965.1% 330,557        2696.9% Mar 15,792            13,323            26,075            10,283           65.1% 12,752           95.7% Apr 37,420            217,862         321,069         283,649        758.0% 103,206        47.4% May 340,622         186,425         20,400            (320,222)       ‐94.0% (166,025)       ‐89.1% Jun 1,050               11,976            14,400            13,350           1271.4% 2,424              20.2% Jul 344,386         367,567         337,436         (6,950)             ‐2.0% (30,131)          ‐8.2% Aug 15,193            12,253            20,400            5,207              34.3% 8,147              66.5% Sep ‐                           4,683               18,600            18,600           100.0% 13,917           297.2% Oct 346,194         386,072         346,111         (83)                    0.0% (39,960)          ‐10.4% Nov 11,200            11,614             ‐                            Dec 9,000               16,993             ‐                            YTD Total 1,488,715$  1,615,084$  1,483,693$  (5,021)$          ‐0.3% (131,391)$    ‐8.1% Annual Total 1,508,915$  1,643,692$   Franchise Fees Year to Date through October Month 2019 vs. 2018 2019 vs. Budget   Business Licenses  Business license collections are 51.6% above 2018 and are 52.1% above budget. The City is projecting Business License  collections to be just over $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            14,123            4,373              44.9%(41,890)          ‐74.8% Nov 7,950               29,021             ‐                            Dec 54,000            40,328             ‐                            YTD Total 614,091$      612,106$      930,726$      316,635$     51.6% 318,620$     52.1% Annual Total 676,041$      681,455$       Business Licenses Year to Date through October Month 2019 vs. 2018 2019 vs. Budget          Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 8 of 19   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         272,064         23,789           9.6% 32,176           13.4% Nov 178,199         266,691          ‐                            Dec 198,984         220,811          ‐                            YTD Total 2,820,142$  3,037,229$  2,636,938$  (183,205)$    ‐6.5% (400,292)$    ‐13.2% Annual Total 3,197,325$  3,524,731$   Building Permits Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     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 3,029,100$      2,787,776$         3,637,844$      608,744$         20.1% 850,068$         30.5% Federal Grants 167,450              324,867                 104,002              (63,448)               ‐37.9% (220,865)            ‐68.0% State Grants 22,679                 24,827                    57,178                 34,499               152.1% 32,350               130.3% Local Grants 79,913                 210,443                 195,566              115,653            144.7%(14,877)               ‐7.1% YTD Total 3,299,141$      3,347,914$         3,994,590$      695,448$         21.1% 646,676$         19.3% Annual Total 4,162,854$      4,744,483$          Intergovernmental by Type Revenue 2019 vs. 2018 2019 vs. Budget Year to Date through October        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 9 of 19   State Shared Revenues  State shared revenues comprise 91% 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 Actual Budget Actual $ % $ % 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         465,665         135,242        40.9% 116,772        33.5% Nov 178,271         148,169          ‐                            Dec 412,208         359,790          ‐                            YTD Total 3,029,100$  2,787,776$  3,637,844$  608,744$     20.1% 850,068$     30.5% Annual Total 3,619,579$  3,295,735$   State Shared Revenue Year to Date through October 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 16,533$         14,118$         21,666$         5,133$           31.1% 7,548$           53.5% Crim Just ‐ High Crime 284,633         276,071         289,405         4,772              1.7% 13,334           4.8% Crim Just ‐ Pop 29,781            24,725            31,208            1,427              4.8% 6,483              26.2% Crim Just ‐ Spec Prog 107,640         110,204         112,281         4,641              4.3% 2,077              1.9% State DUI 15,182            17,777            14,506            (676)                  ‐4.5% (3,271)             ‐18.4% 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 457,251         459,875         569,220         111,968        24.5% 109,344        23.8% Fuel Tax 1,265,926     1,247,397     1,805,419     539,493        42.6% 558,022        44.7% YTD Total 3,029,100$  2,787,776$  3,637,844$  608,744$     20.1% 850,068$     30.5% 2019 vs. 2018 2019 vs. Budget     Charges for Services     Charges for Services revenues comprise 7% of all resources supporting general governmental activities. Charges for Services  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Passport Fees 45,095                 52,551                    28,740                 (16,355)               ‐36.3% (23,811)               ‐45.3% Court Services 33,124                 9,720                       53,502                 20,378               61.5% 43,782               450.4% General Government Services 1,175                    430                           1,858                    683                       58.1% 1,427                  331.6% Public Safety Services 1,011,262         687,094                 910,377              (100,885)            ‐10.0%223,283            32.5% Development Services 1,435,865         1,551,712            1,829,279         393,414            27.4% 277,567            17.9% Transportation Services 16,952                  ‐                                   17,144                 192                       1.1% 17,144               100.0% Recreation/Farmer's Market/Events 1,471,555         1,754,027            1,434,493         (37,061)               ‐2.5% (319,533)            ‐18.2% Interfund Services 3,242,479         4,011,601            3,480,228         237,749            7.3%(531,373)            ‐13.2% YTD Total 7,257,506$      8,067,135$         7,755,621$      498,114$         6.9%(311,514)$         ‐3.9% Annual Total 8,531,218$      9,491,414$          Year to Date through October Charges for Services by Type Revenue 2019 vs. 2018 2019 vs. Budget      Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 10 of 19   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 10% below 2018, but 32.5%  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            122,680         (65,508)            ‐34.8%24,770            25.3% Nov 69,023            60,122             ‐                            Dec 143,016         93,619             ‐                            YTD Total 1,011,262$  687,094$      910,377$      (100,885)$      ‐10.0%223,283$      32.5% Annual Total 1,223,301$  840,835$       Public Safety Services Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     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 $2.3M 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         151,169         (57,733)            ‐27.6% (29,997)            ‐16.6% Nov 234,811         231,382          ‐                            Dec 123,834         166,678          ‐                            YTD Total 1,435,865$  1,551,712$  1,829,279$  393,414$      27.4% 277,567$      17.9% Annual Total 1,794,511$  1,949,771$   Development Services Year to Date through October Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 11 of 19   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 October 2018, under the old revenue  recognition principles, was $96K; deferred revenue at the end of October 2019, under the new revenue recognition principles,  is $155K. 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            75,459            3,367               4.7% 6,649               9.7% Nov 37,924            54,639             ‐                            Dec (104)                  26,025             ‐                            YTD Total 1,471,555$  1,754,027$  1,434,493$  (37,061)$         ‐2.5% (319,533)$      ‐18.2% Annual Total 1,509,375$  1,834,691$   Recreation/Farmer's Market/Events Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     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 $4.2M at  year‐end.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 341,805$      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 320,736         394,507         334,732         13,995            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         401,481         70,579            21.3% 1,595               0.4% Nov 332,980         398,369          ‐                            Dec 324,948         384,647          ‐                            YTD Total 3,242,479$  4,011,602$  3,480,228$  237,749$      7.3%(531,373)$      ‐13.2% Annual Total 3,900,407$  4,794,617$   Month 2019 vs. 2018 2019 vs. Budget Interfund Services Year to Date through October        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 12 of 19   Fines and Penalties    Fines and Penalties revenues comprise 3% of all resources supporting general governmental activities. Fines and Penalties  revenues are broken down as follows:  2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 454,283$           517,327$              356,830$           (97,453)$            ‐21.5% (160,496)$         ‐31.0% Photo Enforcement Program 2,714,612         2,742,381            3,298,718         584,105            21.5% 556,337            20.3% Criminal Traffic Misdemeanor Fines 58,150                 64,721                    46,913                 (11,237)               ‐19.3% (17,808)               ‐27.5% Criminal Non‐Traffic Fines 61,675                 24,871                    70,652                 8,977                  14.6% 45,780               184.1% Criminal Costs 80,893                 16,307                    58,976                 (21,917)               ‐27.1%42,669               261.7% Non‐Court Fines, Forfeitures and Penalties 32,291                 145,537                 53,825                 21,535               66.7%(91,712)               ‐63.0% YTD Total 3,401,905$      3,511,144$         3,885,914$      484,009$         14.2% 374,770$         10.7% Annual Total 4,273,192$      4,407,750$          Year to Date through October Revenue 2019 vs. 2018 2019 vs. Budget Fines and Penalties by Type     Civil Penalties  Civil Penalties revenues are underperforming both 2018 and budget. The City is projecting Civil Penalties revenue to be  around $445K by the end of the year.  2018 2019 2019 ActualBudgetActual$%$% Jan ‐$                         ‐$                   ‐$                         ‐$                       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            33,756            (19,615)          ‐36.8% (24,862)          ‐42.4% Nov 41,021            50,521             ‐                            Dec 37,736            77,353             ‐                            YTD Total 454,283$      517,327$      356,830$      (97,453)$       ‐21.5% (160,496)$    ‐31.0% Annual Total 533,040$      645,200$       Civil Penalties Year to Date through October Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 13 of 19   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 $4.1M by  the end of the year.   The associated costs include the equipment provided by American Traffic Solutions, Inc. (ATS), dedicated 2 FTE in the Court  Services Department to process the increased caseload.   18 Actual 19 Budget 19 Actual 2019 vs. 2018 18 Actual 19 Budget 19 Actual 19 Net Jan 136,853$         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                 394,008            (111,213)         115,469         135,268           226,321           167,686          Nov 404,192            354,895                  ‐                               ‐124,973         141,293            ‐                              ‐                      Dec 344,236            334,129                  ‐                               ‐224,231         247,161            ‐                              ‐                      YTD Total 2,714,612$     2,742,381$         3,298,718$     584,105$        865,121$      1,126,169$   1,171,382$    2,127,336$   Annual Total 3,463,040$     3,431,405$         1,214,324$  1,514,623$    Month Photo Enforcement Program Year to Date through September ExpensesRevenues     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 889,132$           580,415$              1,083,318$      194,186$         21.8% 502,903$         86.6% Rents, Leases, and Concessions 1,518,861         1,240,133            1,459,110         (59,751)               ‐3.9%218,977            17.7% Contributions/Donations from Private Sources 155,085              112,762                 225,877              70,792               45.6% 113,115            100.3% Seizure Funds ‐ Federal/State/Local 276,376               ‐                                   74,382                 (201,994)            ‐73.1%74,382               100.0% Other 209,114              219,037                 266,178              57,064               27.3% 47,141               21.5% YTD Total 3,048,568$      2,152,347$         3,108,865$      60,297$            2.0% 956,518$         44.4% Annual Total 3,667,475$      2,665,145$          Year to Date through October Revenue 2019 vs. 2018 2019 vs. Budget Miscellaneous by Type        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 14 of 19   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 $1.2M 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             102,643          6,845              7.1% 40,556             65.3% Nov 98,832             63,461              ‐                             Dec 155,514          186,124           ‐                             YTD Total 889,132$       580,415$       1,083,318$  194,186$     21.8% 502,903$       86.6% Annual Total 1,143,478$  830,000$        Interest and Other Investment Earnings Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     Rents, Leases, and Concessions  Rents, Leases, and Concessions revenue are under performing compared to 2018, but are over budget by 17.7%. 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          110,758          118,409          (9,275)              ‐7.3%7,651                6.9% Nov 109,294          90,179              ‐                             Dec 92,869             92,742              ‐                             YTD Total 1,518,861$  1,240,133$  1,459,110$  (59,751)$        ‐3.9%218,977$       17.7% Annual Total 1,721,024$  1,423,053$   Rents, Leases, and Concessions Year to Date through October Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 15 of 19   Contributions/Donations from Private Sources  Contributions/donations from private sources include donations for Police’s Shop with a Cop event, Human Services’ Housing  Repair Assistance Program, various City events (such as Fourth of July and Clam Lights), Farmer’s Market sponsorships, and  Community Services’ senior and youth programs. Year‐to‐date donations exceed both 2018 and budget.   2018 2019 2019 Actual Budget Actual $ % $ % Jan ‐$                         233$                 9,087$             9,087$           100.0% 8,854$             3801.1% Feb 5                          9,125                75,586             75,581           1511618.0% 66,461             728.3% Mar 42,190             22,479             12,511             (29,678)           ‐70.3% (9,968)               ‐44.3% Apr 7,070                12,251             1,102                (5,968)              ‐84.4% (11,149)            ‐91.0% May 10,200             8,852                11,008             808                   7.9% 2,156                24.4% Jun 3,160                4,355                428                    (2,732)              ‐86.4% (3,926)               ‐90.2% Jul 24,000             17,723             10,133             (13,867)           ‐57.8% (7,590)               ‐42.8% Aug 61,715             27,236             48,918             (12,796)           ‐20.7%21,683             79.6% Sep 184                    5,402                30,842             30,658           16661.8% 25,440             471.0% Oct 6,561                5,107                26,260             19,699           300.3% 21,153             414.2% Nov 1,704                1,731                 ‐                             Dec 40,433             37,476              ‐                             YTD Total 155,085$       112,762$       225,877$       70,792$        45.6% 113,115$       100.3% Annual Total 197,221$       151,970$        Contributions/donations from Private Sources Year to Date through October Month 2019 vs. 2018 2019 vs. Budget     EXPENSES    Overall, the City has expended 75.4% of its budgeted general governmental expenditures at the end of October.  This is $4.3M  or 4.1% below year‐to‐date budgeted expenditures.      The Human Services division is over the year‐to‐date budget by $65K or 5.8%. This is mostly due to the timing of payments  under the CDBG Healthy Housing Program. The City is projecting the Human Services Division to be approximately $15K over  budget at the end of the year, the majority of which is due to excess operational expenditures for the cold weather shelter.    The Museum is over the year‐to‐date budget by $649 or .3%. 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.    The Transportation division is over the year‐to‐date budget by $14K. This is due to increased signal and sign supply purchases  which are expected to be reimbursed by the Insurance Fund. The City is not projecting Transportation to be over budget at  the end of the year.                     Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 16 of 19   ENTERPRISE FUNDS  The table below gives an analysis of all City Enterprise funds.  Displayed are the year‐to‐date revenues and expenditures for  each enterprise.  Included in each funds are the capital revenues and expenditures.  Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                    ‐$                    ‐$                    ‐$                   98,079$           ‐              45,800$           Grants / intergovernmental 198,148          167,153           ‐                      ‐                      ‐                      ‐                  1,018,172        Charges for services 245,144          16,472,464     1,800,757       15,008,732     9,089,117       14,467,378 9,947,911        Interdepartmental services ‐                      ‐                      ‐                      ‐                      ‐                      ‐                   ‐                      Fines and penalties 617                  ‐                      ‐                      ‐                     616                  ‐                   ‐                      Rents, leases, and misc fees 2,370,493        ‐                     415,703          157,766           ‐                      ‐                   ‐                      Interest and other misc 73,838            27,183            7,213              825,043          653,933          67,521        573,422           TOTAL REVENUES 2,888,240       16,666,800     2,223,673       15,991,541     9,841,745       14,534,899 11,585,305      EXPENSES: Utility billing ‐                     36,170             ‐                     136,396          110,692           ‐                  167,117           Utility systems ‐                     15,115,900      ‐                     3,691,086       3,283,469        ‐                  3,256,412        Utility maintenance ‐                     325,301           ‐                     5,054,457       1,808,912       14,081,590 2,647,636        Transportation 1,716,973        ‐                      ‐                      ‐                      ‐                      ‐                   ‐                      Golf ‐                      ‐                     1,996,420        ‐                      ‐                      ‐                   ‐                      TOTAL EXPENSES 1,716,973       15,477,371     1,996,420       8,881,939       5,203,073       14,081,590 6,071,165        AMOUNT AVAILABLE FOR DEBT  SERVICE 1,171,267       1,189,429       227,253          7,109,602       4,638,672       453,309      5,514,140        DEBT SERVICE: Principal ‐                      ‐                      ‐                     345,818           ‐                      ‐                   ‐                      Interest ‐                      ‐                      ‐                     112,123          47,919             ‐                  489,507           TOTAL DEBT SERVICE ‐                      ‐                      ‐                     457,941          47,919             ‐                  489,507           CAPITAL PROJECTS 169,532           ‐                     14,140            4,307,101       2,777,768        ‐                  2,362,481        TRANSFERS IN ‐                      ‐                     60,000             ‐                     28,356             ‐                  6,378               TRANSFERS (OUT)‐                      ‐                     (60,000)          (2,855)            (768)                ‐                  (846)                TOTAL TRANSFERS ‐                      ‐                      ‐                     (2,855)            27,588             ‐                  5,532               CHANGE IN FUND BALANCE 1,001,735       1,189,429       213,113          2,341,705       1,840,573       453,309      2,667,684        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, Oct 31 5,987,112$     3,465,762$     323,925$        40,344,678$   20,719,774$   5,965,727$ 19,023,714$          Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 17 of 19   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 ‐$                 ‐$                  278,212$      ‐$                  ‐$                       ‐$                 ‐$                   Grants / intergovernmental ‐                   ‐                     ‐                   ‐                    ‐                         ‐                  35,898           Charges for services: Equipment rental m&o 2,032,890    ‐                    4,138,333     ‐                    ‐                         ‐                   ‐                     Print and mail ‐                   ‐                     ‐                   ‐                   372,426              ‐                   ‐                     Communications ‐                   ‐                    14,714          ‐                   548,246              ‐                   ‐                     Facilities ‐                   ‐                     ‐                  3,580,450     ‐                         ‐                   ‐                     Data cards and cell phones ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     IT service contracts ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Interest and other misc 70,401        208,179        43,981         13,589         7,769                 51,430         161,981         Internal service fund misc: Vehicle / equipment capital recovery 2,238,816    ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Insurance premiums ‐                  1,407,219      ‐                   ‐                    ‐                         ‐                   ‐                     Worker's comp/unemployment ‐                  1,230,649      ‐                   ‐                    ‐                         ‐                   ‐                     Benefit premiums ‐                   ‐                     ‐                   ‐                    ‐                        8,442,241    2,187,236      Other misc 4,517          50,000          690              123,543       425                    862,749        ‐                     Interfund Loan ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Capital contributions ‐                   ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Disposal of capital assets 57,551         ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Insurance recoveries ‐                  131,461         ‐                   ‐                    ‐                         ‐                   ‐                     TOTAL REVENUES 4,404,175   3,027,508     4,475,930    3,717,582    928,866             9,356,420    2,385,115      EXPENSES: Communications ‐                   ‐                     ‐                   ‐                   472,039              ‐                   ‐                     Equipment rental 2,450,103    ‐                     ‐                   ‐                    ‐                         ‐                   ‐                     Facilities ‐                   ‐                     ‐                  4,289,148     ‐                         ‐                   ‐                     Healthcare ‐                   ‐                     ‐                   ‐                    ‐                        8,408,178     ‐                     Information technology ‐                   ‐                    4,386,497     ‐                    ‐                         ‐                   ‐                     Print and mail ‐                   ‐                     ‐                   ‐                   359,379              ‐                   ‐                     Retiree healthcare ‐                   ‐                     ‐                   ‐                    ‐                         ‐                  774,172         Risk management: Risk management ‐                  1,305,319      ‐                   ‐                    ‐                         ‐                   ‐                     Unemployment ‐                  47,860           ‐                   ‐                    ‐                         ‐                   ‐                     Worker's compensation ‐                  581,836         ‐                   ‐                    ‐                         ‐                   ‐                     TOTAL EXPENSES 2,450,103   1,935,015     4,386,497    4,289,148    831,418             8,408,178    774,172         AMOUNT AVAILABLE FOR CAPITAL 1,954,072   1,092,493     89,433         (571,566)      97,448               948,242       1,610,943      CAPITAL PROJECTS 3,681,824    ‐                    282,741       10,901          ‐                         ‐                   ‐                     TRANSFERS IN ‐                   ‐                    52,724         12,389          ‐                         ‐                   ‐                     TRANSFERS (OUT)‐                   ‐                     ‐                  (5,220)           ‐                         ‐                   ‐                     TOTAL TRANSFERS ‐                   ‐                    52,724         7,169            ‐                         ‐                   ‐                     CHANGE IN FUND BALANCE (1,727,752)  1,092,493     (140,584)     (575,298)      97,448               948,242       1,610,943      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, Oct 31 4,765,266$ 19,614,647$ 3,793,824$  801,561$     783,041$           5,207,753$  15,487,571$    Monthly Financial Report                                                               City of Renton, Washington October 2019  Page 18 of 19   FUND BALANCE  Page 19 shows the ending fund balance as of October 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 October, the City has $57.4M reported in the combined general governmental fund balance of the current  year’s operating budget, which is approximately 43.9% of budgeted operating expenditures.  This is an increase of $12.8M  from the year’s beginning balance.  October’s ending fund balance is over the anticipated General Governmental Fund  Balance of $43.7M by $13.7M or 31.3%.  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 October 2019  Page 19 of 19   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through October 31, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  10/31/19 Total Funds  Available Budgeted  Expenditure Expenditure  10/31/19 Ending Balance GENERAL FUND: 44,542,987          122,403,346        111,404,299        155,947,286        130,745,636        98,589,060          57,358,226           SPECIAL REVENUE FUNDS: 1,875,558            1,120,674            686,568               2,562,126            1,412,904            551,805               2,010,321             102 Arterial Street 163,671               700,000                ‐                           163,671               700,000               163,671                ‐                            110 Hotel Motel 722,387               225,000               467,301               1,189,688            406,547               218,437               971,251                125 Municipal Art 119,446               98,000                 83,978                 203,424               200,683               123,813               79,611                  127 Cable Communication 529,159               97,674                 131,593               660,752               105,674               45,884                 614,868                135 Springbrook Wetlands Bank 340,895                ‐                           3,696                   344,591                ‐                            ‐                           344,591                DEBT SERVICE FUND: 2,307,173            7,805,569            6,598,938            8,906,111            7,914,936            1,215,205            7,690,906             CAPITAL PROJECT FUNDS (CIP): 39,310,931          66,827,984          30,324,165          69,635,096          87,183,116          14,575,749          55,059,347           303 Community Services Mitigation 2,578,256            86,500                 420,052               2,998,308            1,629,000             ‐                           2,998,308             305 Transportation Mitigation 3,332,524            1,020,000            1,754,225            5,086,749            2,700,000             ‐                           5,086,749             316 Municipal Facilities CIP 20,675,238          23,354,715          15,684,845          36,360,083          41,657,287          8,889,676            27,470,407           317 Transportation CIP 5,492,313            37,291,769          12,345,736          17,838,049          41,036,073          5,270,952            12,567,097           326 Housing Opportunity 2,582,203             ‐                           29,286                 2,611,489            47,400                 42,984                 2,568,505             336 New Library Development 456,591                ‐                           3,994                   460,585                ‐                            ‐                           460,585                346 New Family First Center Dvlpmnt 4,193,806            5,075,000            86,027                 4,279,833            113,356               372,137               3,907,696             ENTERPRISE FUNDS: 86,123,144          93,153,914          73,826,937          159,950,081        146,588,143        64,119,389          95,830,692           4X2 Airport Operating & CIP 4,985,377            3,298,685            2,888,240            7,873,617            7,907,470            1,886,505            5,987,112             403 Solid Waste Utility 2,276,333            19,512,021          16,666,800          18,943,133          19,400,701          15,477,371          3,465,762             4X4 Golf Operating & CIP 110,812               2,445,053            2,283,673            2,394,485            2,346,727            2,070,560            323,925                4X5 Water Operating & CIP 38,002,973          18,841,192          15,991,541          53,994,514          48,759,844          13,649,836          40,344,678           4X6 Waste Water Operating & CIP 18,879,201          11,582,615          9,870,101            28,749,302          24,716,488          8,029,528            20,719,774           416 King County Metro 5,512,418            16,922,613          14,534,899          20,047,317          16,922,613          14,081,590          5,965,727             4X7 Surface Water Operating & CIP 16,356,030          20,551,735          11,591,683          27,947,713          26,534,300          8,923,999            19,023,714           INTERNAL SERVICE FUNDS: 49,148,171          35,770,284          28,360,709          77,508,880          40,045,617          27,055,217          50,453,663           501 Equipment Repair/Replacement 6,493,018            7,695,395            4,404,175            10,897,193          9,030,476            6,131,927            4,765,266             502 Insurance 18,522,154          3,343,143            3,027,508            21,549,662          4,214,868            1,935,015            19,614,647           503 Information Services 3,934,408            6,054,593            4,528,654            8,463,062            7,558,374            4,669,238            3,793,824             504 Facilities 1,376,859            5,302,302            3,729,971            5,106,830            5,507,965            4,305,269            801,561                505 Communications 685,593               1,105,816            928,866               1,614,459            1,100,667            831,418               783,041                512 Insurance, Healthcare 4,259,511            11,027,762          9,356,420            13,615,931          11,655,086          8,408,178            5,207,753             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            2,385,115            16,261,743          978,181               774,172               15,487,571           FIDUCIARY FUNDS: 7,146,983            468,000               275,760               7,422,743            210,475               162,061               7,260,682             304 Fire Mitigation 1,455,669            99,000                 766,686               2,222,355            128,576                ‐                           2,222,355             611 Firemen's Pension 7,146,983            468,000               275,760               7,422,743            210,475               162,061               7,260,682             TOTAL FUNDS 231,910,616     327,648,771     252,244,062     484,154,678     414,229,403     206,268,486     277,886,192