HomeMy WebLinkAbout2019 CAFR - City of Renton (2)City of Renton
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Comprehensive Annual Financial Report
For the year ended December 31, 2019
i
CITY OF RENTON
2019
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended December 31, 2019
Administrative Services Department
City of Renton
1055 South Grady Way
Renton, Washington 98057
(425) 430‐6858
Website: www.rentonwa.gov
ii
ACKNOWLEDGEMENTS
Prepared by the Finance Division of the
Administrative Services Department
Administrative Services Administrator
Jan Hawn
Fiscal Services Director
Kari Roller
Accounting Staff
Misty Baker, Senior Finance Analyst
Raevel Chea, Senior Finance Analyst
Sean Hollingsworth, Finance Analyst III
Jen Hughes, Financial Services Manager
Nate Malone, Tax & Licensing Program Manager
Todd Mar, Finance Analyst III
Stacy Robinson, Senior Finance Analyst
Terri Weishaupt, Accounting Supervisor
Print and Mail Coordinator
Karl Hurst
TABLE OF CONTENTS
DECEMBER 31, 2019
ITEM PAGE
iii
INTRODUCTORY SECTION
Letter of Transmittal ..................................................................................................................................... 1‐1
2018 Comprehensive Annual Financial Report Award ................................................................................. 1‐6
Corporate Organization Structure & Reporting Relations ............................................................................ 1‐7
FINANCIAL SECTION
Independent Auditor’s Report .................................................................................................................... 2‐1
Management Discussion and Analysis ........................................................................................................ 3‐1
Basic Financial Statements:
Government‐wide Financial Statements:
Statement of Net Position ............................................................................................................... 4‐1
Statement of Activities .................................................................................................................... 4‐2
Fund Statements:
Governmental Fund Financial Statements:
Balance Sheet .................................................................................................................................. 4‐3
Reconciliation of Balance Sheet to the Statement of Net Position ................................................. 4‐4
Statement of Revenues, Expenditures and Changes in Fund Balances ........................................... 4‐5
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities .................................... 4‐6
Proprietary Fund Financial Statements:
Statement of Net Position ............................................................................................................... 4‐7
Statement of Revenues, Expenses, and Changes in Net Position ................................................... 4‐8
Statement of Cash Flows ................................................................................................................. 4‐9
Fiduciary Fund Statements:
Statement of Fiduciary Net Position ............................................................................................. 4‐11
Statement of Changes in Fiduciary Net Position ........................................................................... 4‐12
Notes to Financial Statements:
Note 1: Significant Accounting Policies ........................................................................................ 4‐13
Note 2: Deposits and Investments ............................................................................................... 4‐25
Note 3: Property Taxes ................................................................................................................. 4‐29
Note 4: Capital Assets and Depreciation ...................................................................................... 4‐30
Note 5: Pensions ........................................................................................................................... 4‐33
Note 6: Other Post Employment Benefits .................................................................................... 4‐47
Note 7: Contingencies .................................................................................................................. 4‐50
Note 8: Risk Management ............................................................................................................ 4‐50
Note 9: Interfund Transactions ..................................................................................................... 4‐52
Note 10: Long Term Debt .............................................................................................................. 4‐54
Note 11: Joint Ventures ................................................................................................................. 4‐58
Note 12: Airport Leases ................................................................................................................. 4‐61
Note 13: Capital Lease ................................................................................................................... 4‐62
Note 14: Tax Abatement ............................................................................................................... 4‐62
Note 15: Subsequent Events ......................................................................................................... 4‐63
Required Supplementary Information Other than MD&A:
Schedule of Revenues, Expenditures, and Changes in Fund Balance ‐ Budget and Actual
General Fund ................................................................................................................................... 5‐1
TABLE OF CONTENTS
DECEMBER 31, 2019
ITEM PAGE
iv
Notes to Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
General Fund ................................................................................................................................... 5‐2
Schedule of the City’s Proportionate Share of the Net Pension Liability ‐ PERS Plan 1 ......................... 5‐4
Schedule of the City’s Proportionate Share of the Net Pension Liability ‐ PERS Plan 2/3 ..................... 5‐5
Schedule of the City’s Proportionate Share of the Net Pension Liability ‐ PSERS Plan 2 ....................... 5‐6
Schedule of the City’s Proportionate Share of the Net Pension Liability ‐ LEOFF Plan 1 ....................... 5‐7
Schedule of the City’s Proportionate Share of the Net Pension Liability ‐ LEOFF Plan 2 ....................... 5‐8
Schedule of Employer Contributions ‐ WA Department of Retirement Systems .................................. 5‐9
Schedule of Changes in Net Pension Liability and Related Ratios ‐ Firefighters’ Pension Fund .......... 5‐10
Schedule of Employer Contributions ‐ Firefighters’ Pension Fund ...................................................... 5‐11
Schedule of Investment Returns ‐ Firefighters’ Pension Fund ............................................................. 5‐12
Schedule of Changes in Total OPEB Liability and Related Ratios………………………………. .................... ...5‐13
Combining Statements and Other Supplementary Information
Non‐Major Fund Descriptions ................................................................................................................ 6‐1
Combining Governmental Balance Sheet ‐ Nonmajor Governmental Funds
Summary by Fund Type ................................................................................................................... 6‐5
Combining Balance Sheet ‐ Nonmajor Capital Projects Funds .............................................................. 6‐6
Combining Balance Sheet ‐ Nonmajor Debt Service Funds ................................................................... 6‐7
Combining Balance Sheet ‐ Nonmajor Special Revenue Funds ............................................................. 6‐8
Combining Statement of Revenues, Expenditures and Changes in Fund Balances ‐ Nonmajor
Governmental Funds Summary by Fund Type ................................................................................ 6‐9
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ‐ Nonmajor
Capital Projects Funds ................................................................................................................... 6‐10
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ‐ Nonmajor
Debt Service Funds ........................................................................................................................ 6‐11
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ‐ Nonmajor
Special Revenue Funds .................................................................................................................. 6‐12
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Municipal Facilities CIP .................................................................................................................. 6‐13
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Municipal Facilities CIP – Housing Opportunity/Economic Development Revolving Fund ........... 6‐14
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Municipal Facilities CIP – New Family First Center Development ................................................. 6‐15
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Municipal Facilities CIP – New Library Development .................................................................... 6‐16
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Community Development Impact Mitigation ................................................................................ 6‐17
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Transportation Impact Mitigation ................................................................................................. 6‐18
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Capital Improvement ..................................................................................................................... 6‐19
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
General Debt ................................................................................................................................. 6‐20
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Arterial Street ................................................................................................................................ 6‐21
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Hotel/Motel Tax ............................................................................................................................ 6‐22
TABLE OF CONTENTS
DECEMBER 31, 2019
ITEM PAGE
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Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Municipal Art ................................................................................................................................. 6‐23
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Cable Communications Development ........................................................................................... 6‐24
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
Springbrook Wetlands Bank .......................................................................................................... 6‐25
Combining Statement of Net Position, Nonmajor Enterprise Funds ................................................... 6‐26
Combining Statement of Revenues, Expenses and Changes in Fund Net Position ‐
Nonmajor Enterprise Funds ........................................................................................................... 6‐27
Combining Statement of Cash Flows ‐ Nonmajor Enterprise Funds .................................................... 6‐28
Combining Statement of Net Position, Internal Service Funds ............................................................ 6‐30
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position,
Internal Service Funds ................................................................................................................... 6‐31
Combining Statement of Cash Flows, Internal Service Funds .............................................................. 6‐32
STATISTICAL SECTION
Statistical Section Description ................................................................................................................ 7‐1
Financial Trends:
Table 1: Net Position by Component ................................................................................................. 7‐2
Table 2: Changes in Net Position ........................................................................................................ 7‐3
Table 3: Fund Balance of Governmental Funds ................................................................................. 7‐5
Table 4: Changes in Fund Balance of Governmental Funds ............................................................... 7‐6
Revenue Capacity:
Table 5: Water Utility Systems Revenue Information ........................................................................ 7‐7
Table 6: Principal Rate Payers ............................................................................................................ 7‐8
Table 7: Water Utility Rates ............................................................................................................. 7‐11
Table 8: General Government Tax Revenue by Source .................................................................... 7‐14
Table 9: Principal Property Tax Payers ............................................................................................. 7‐15
Table 10: Assessed Value of Taxable Property ................................................................................... 7‐16
Table 11: Property Tax Rates Direct and Overlapping Governments ................................................ 7‐17
Table 12: Property Tax Levies and Collections ................................................................................... 7‐18
Table 13: Sales Tax Collections by Sector ........................................................................................... 7‐19
TABLE OF CONTENTS
DECEMBER 31, 2019
ITEM PAGE
vi
Debt Capacity:
Table 14: Ratios of Outstanding Debt by Type ................................................................................... 7‐20
Table 15: Legal Debt Margin Information .......................................................................................... 7‐21
Table 16: Ratios of General Bonded Debt Outstanding to Assessed Value ....................................... 7‐22
Table 17: Direct and Overlapping Governmental Activities Debt ...................................................... 7‐23
Table 18: Pledged‐Revenue Coverage ................................................................................................ 7‐24
Demographic and Economic Information:
Table 19: Demographic and Economic Statistics ................................................................................ 7‐25
Table 20: Principal Employers ............................................................................................................ 7‐26
Operating Information:
Table 21: Full Time Equivalent City Government Employees by Function ......................................... 7‐27
Table 22: Operating Indicators by Function ....................................................................................... 7‐28
Table 23: Utility Systems Supplemental Operating Information ....................................................... 7‐29
Table 24: Capital Assets Statistics by Function ................................................................................... 7‐30
August 5, 2020
Honorable Armondo Pavone, Mayor
Members of the Renton City Council
Residents of Renton
City of Renton, Washington
Mr. Mayor, Honorable Councilmembers, and Citizens of Renton:
We are pleased to present the City’s Comprehensive Annual Financial Report for the year ended
December 31, 2019. The City maintains a system of internal controls designed to provide reasonable
assurance that assets are safeguarded against loss or unauthorized use, and that financial records can
be relied upon to produce accurate and fairly presented financial statements in accordance with
generally accepted accounting principles.
Management assumes full responsibility for the completeness and reliability of the information
contained in this report. To the best of our knowledge and belief, the enclosed financial statements
and all supporting schedules are accurate in all material respects and are reported in a manner
designed to present fairly the financial position and results of operations of the City. The concept of
reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be
derived, and the evaluation of the relative costs and benefits of the control system requires estimates
and judgments by management.
These financial statements have been audited by the Washington State Auditor’s Office. This
independent audit was conducted in accordance with generally accepted auditing standards and
generally accepted government auditing standards to provide an independent assessment of fair
presentation of the City’s financial position. The State Auditor’s Office has issued an unmodified
(“clean”) opinion on the City’s financial statements, which is included at the front of the financial
statement section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the State Auditor’s report and
provides a narrative introduction, overview, and analysis to accompany the basic financial statements.
This letter of transmittal is designed to complement the MD&A and should be read in conjunction with
it.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-1
PROFILE OF THE CITY
Incorporated on September 6, 1901, Renton is a city in King County, Washington. Situated 11 miles
southeast of downtown Seattle, 5 miles from SeaTac Airport, Renton straddles the southeast shore of
Lake Washington, at the junction of key north‐south and east‐west transportation corridors. The City’s
early economy was based on coal mining, clay production, and timber export. Today, Renton is best
known as the final assembly point for the Boeing 737 family of commercial airplanes, but it is also
home to a growing number of well‐known manufacturing, technology, health care service companies
and government institutions, including Boeing, Paccar, Wizards of the Coast gaming, Ikea Home
Furnishing, Valley Medical Center, Providence Health & Services, Kaiser Permanente, the Seattle
Seahawks headquarters, Seattle Branch of Federal Reserve Bank, and FAA Northwest Regional office.
The City of Renton has a strong mayor form of government with an appointed Chief Administrative
Officer. The Mayor is independently elected to a four‐year term. The Mayor’s job is to manage day‐to‐
day operations, and to lead policy development and implementation with the seven‐member City
Council elected at large on a non‐partisan basis.
With a population of 104,700 in 2019, Renton is the 8th largest city in the state, and the 4th largest in
King County. The City provides a full range of municipal services to an incorporated area of 24.03
square miles. These services include police, street construction and maintenance, planning and zoning,
municipal court, general administrative services, municipal airport, golf course, and parks and
recreational facilities that includes an aquatic center, senior center, community center, two
neighborhood centers, and a museum.
The City operates four utilities: water, sewer, surface water, and contracts out its solid waste
collection. These are operated very similar to a private business where the revenues from rates and
other direct sources must pay for the operational, capital, and long‐term debt costs. The City has its
own water supplies and does not rely on purchased water to meet normal service demands. The City’s
sewage is treated by King County, but the City is responsible for transferring and maintaining the
system to King County. The City bills Renton residents a monthly fee for the cost of sewer treatment
performed by King County.
Since the 2011‐12 biennium, the City has adopted a biennial budget. The Council is required to adopt
an initial budget for the biennium no later than December 31 preceding the beginning of the fiscal year
on January 1. The City of Renton maintains budgetary controls to ensure compliance with legal
provisions embodied in the budget. All activities are appropriated through the budget process and
published in the City’s Budget document. The City Council must adopt an ordinance to increase or
decrease total appropriations in a Fund. The Mayor has the authority to move appropriations within a
Fund.
A more thorough discussion of the City’s accounting policies can be found under the Summary of
Significant Accounting Policies in the Notes to the Financial Statements.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-2
ECONOMIC CONDITION AND OUTLOOK
Renton’s economy continues to thrive. In terms of employment, the Puget Sound region has outpaced
national results in 2019 with an overall employment growth rate of 3%. Employment growth during
this time frame is largely attributable to the expansion of service industry, healthcare, and construction
activity in Renton.
A staple of Renton’s economy is the presence of the Boeing Company, which operates out of the
Renton Municipal Airport. Boeing initiates its maiden 737 MAX flights from this airport. An average of
56 airplanes were constructed and delivered each month in 2019. Boeing’s 737 Max was grounded
worldwide in March of 2019 and production of suspended temporarily in January 2020. In April 2020,
the Boeing Company announced that they have begun taking action to lower their number of
employees by roughly 10% through a combination of voluntary layoffs, natural turnover and
involuntary layoffs as necessary. They are also planning to reduce commercial airplane production
rates due to the impact of COVID‐19 on the airline industry. Boeing expects to resume 737 MAX
production at low rates in 2020, gradually increasing to 31 planes per month during 2021, with gradual
increases to correspond to market demand.
The healthcare industry continues to expand in Renton. The industry has grown around the national
award‐winning hospital, Valley Medical Center, which employs approximately 3,700 employees. A new
five‐story, 160,000 square foot medical office building with a cancer clinic, radiation treatment,
outpatient surgery clinic, general office space, and a parking garage expansion was completed in late
2018. In addition, Kaiser Permanente moved into their new 29‐acre, four‐building, administrative
campus in Renton in late 2017, adding over 1,000 new jobs to Renton.
The City of Renton is following the regional trend of a strong recovery in the housing sector, with
assessed value increasing 13.2% for existing homes in 2019.
The City of Renton saw strong sales and retail tax revenue in 2019. While sales tax was down 1.8% in
2019 compared to 2018, this was primarily the result of a significant increase in construction sales tax
in 2018 with investments in office, retail, hotel, and residential development in the Southport area and
expansion in the healthcare industry. This change was fully anticipated and actual sales tax was
$634,511 greater than budgeted revenue.
The Seattle Seahawks’ headquarters/training facility is located within the City and is the second‐largest
facility in the NFL at 200,000 square feet, located along the waterfront of Lake Washington. The
training facility sits 3 miles north of The Landing, a shopping center that was fully completed in early
2010. At year end, the Landing shopping center occupancy was at 94.64% and approximately $1.16
million in sales tax was generated from The Landing in 2019, a 3.5% increase over 2018.
Perhaps the most significant economic impact for the City is the wide diversity of development activity
and private investment that continues to take place within the City. In the South Lake Washington
area, just north of The Landing, is a new waterfront Hyatt Regency Hotel with 355 rooms and 730,000
square feet of class A office space and ground floor retail space; The Sartori Elementary School, which
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-3
is a three story, 79,000 square foot STEM focused school, opened in the fall of 2018 and
accommodates up to 650 students.
Overall, the economic outlook for Renton is strong, although the financial impacts on revenues related
to COVID‐19 has created a need to implement interim cost containment measures. The large‐scale
capital investments within the City in recent years will support a healthy growth in taxable retail sales
and an attractive center for healthcare, retail, and manufacturing.
LONG‐TERM FINANCIAL PLANNING
Unrestricted fund balance (the aggregate of committed, assigned, and unassigned components of
fund balance) in the General Fund was 58 percent of the total General Fund expenditures, compared
to 58 percent in 2018. This fund balance includes the City’s catastrophic reserves, anti‐recessionary
reserves, insurance reserves, and sales tax annexation credit reserves.
The ramp‐up of these fund balances was a direct result of an enhanced stabilization fund policy, which
was originally adopted in late‐2013. During the great recession, the City depleted much of its reserves
and has since rebuilt them. Although economic factors are improving, the City still faces several short
and long‐term constraints, including the impact of COVID‐19 on the City’s revenues. The rate of salary
and healthcare costs and deferred maintenance on City buildings continue to increase at a faster rate
than revenues. In addition, the 10‐year sales tax annexation credit ended in mid‐2018, which provided
approximately $3.1 million in sales tax revenue to the General Fund. The enhanced stabilization fund
policy will help the City bridge an increasing gap in operating expenditures and revenues.
As part of the enhancements to the City’s stabilization policy, the Council also adopted a reserve fund
for Economic Development, which currently has accumulated a $2.5 million balance. The reserve fund
will help the City leverage Local Revitalization Financing (LRF) funds made available by the State of
Washington through a local sales tax option levy. The LRF program offers $500,000 to be used in
approved revitalization areas. The City issued bonds for infrastructure improvements needed in the
Southport revitalization area in early 2019 and the debt service will be paid by the annual $500,000
local sales tax option credit provided by the State of Washington.
As part of the 2015‐2016 biennial budget, the City Council adopted a Business and Occupation (B&O)
Tax effective January 1, 2016. The B&O tax was structured in a way to minimize the impact to the
business community, while at the same time generating enough sustainable revenue for funding
General Fund operations into the future without significant decreases to basic City services. The B&O
tax generated $11.4 million in General Fund revenue for 2019.
The City has been very responsible and responsive in balancing the services the community needs
with the changing mixture and level of resources. In addition to strong financial policies, the City has
also continued to expand its economy and pursue progressive economic development strategies to
maintain a thriving and sustainable economy.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-4
RELEVANT FINANCIAL POLICIES
The City has adopted a comprehensive set of financial policies, including a multi‐tiered stabilization
policy that ensures available reserves for future General Fund funding gaps, long‐term economic
development initiatives, capital commitments, equipment reserves, catastrophic and anti‐recessionary
reserves, and general operating cash flow requirements.
Due to strong financial policies, management, and economic factors, the City of Renton received an
upgraded LTGO bond rating of AAA by Standard & Poor’s in March 2019.
OTHER INFORMATION
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Renton for its
comprehensive annual financial report for the fiscal year ended December 31, 2018. The City has a
long history of achieving this prestigious award. In order to be awarded a Certificate of Achievement, a
government must publish an easily readable and efficiently organized comprehensive annual financial
report. This report must satisfy both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program’s
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
The dedicated staff of the Finance Division work hard each day to ensure that the City’s financial
transactions are processed accurately and records are maintained orderly and in conformance with
policies and procedures. Special thanks are due to Misty Baker, Senior Finance Analyst, who served as
the CAFR project lead. Further appreciation is extended to the City Council and City Management for
their support in conducing financial operations of the City in a sound and progressive manner, and in
conformance with internal and external requirements.
For more information regarding the City’s budget please refer to the City’s website for 2019‐2020
adopted budget as well as monthly sales tax and budgetary financial reports.
Respectfully,
Kari Roller
Fiscal Services Director
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-5
Certificate of
Presented to
City of Renton
For its Comprehensive Annual
December 31, 2018
Executive Director/CEO
Financial Report
for the Fiscal Year Ended
Reporting
in Financial
for Excellence
Achievement
Text38:Washington
Government Finance Officers Association
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-6
ADMINISTRATIVE SERVICES
Jan Hawn, Administrator
425‐430‐6858
RENTON CITIZENS
MAYOR
Armondo Pavone
425‐430‐6500
MUNICIPAL COURT JUDGES
Terry Jurado
Kara Murphy Richards
425‐430‐6550
CITY COUNCIL
Ruth Pérez, President
Angelina Benedetti, Randy Corman,
Ryan McIrvin, Valerie O'Halloran, Ed Prince, Kim‐Khánh Văn
425‐430‐6500
CHIEF ADMINISTRATIVEOFFICER
Vacant
425‐430‐6500
COMMUNITY SERVICES
Kelly Beymer, Administrator
425‐430‐6600
PUBLIC WORKS
Martin Pastucha, Administrator
425‐430‐7394
EXECUTIVE
COMMUNITY AND ECONOMIC
DEVELOPMENT
Chip Vincent, Administrator
425‐430‐6580
POLICE
Ed VanValey, Chief
425‐430‐7503
HUMAN RESOURCES & RISK
MANAGEMENT
Ellen Bradley‐Mak, Administrator
425‐430‐7650
Facilities
Jeffrey Minisci, Director
Renton History Museum
Elizabeth Stewart, Manager
Golf Course
Doug Mills, Manager
Maintenance Services
Michael Stenhouse, Director
Utility Systems
Ronald Straka, Director
Transportation Systems
Jim Seitz, Director
Economic Development
Cliff Long, Director
Long Range Planning
Angie Mathias, Manager
Planning
Mayor's Office
City Clerk / Cable Manager
Jason Seth, City Clerk
Public Affairs
Preeti Shridhar, Deputy Public
Affairs Administrator
Support Operations Bureau
Field Operations Bureau
Emergency Management
Deborah Needham, Director
Human Resources
Kim Gilman, Manager
Risk Management
Kelsey Ternes, Manager
Benefits
Wendy Rittereiser, Manager
Finance
Kari Roller, Director
Information Technology
Mehdi Sadri, Director
Staff Services
Special Operations
Investigations
Administrative
Services
Patrol Services
Patrol Operations
CITY ATTORNEY
Shane Maloney, Administrator
425‐255‐8678
Parks and Trails
Cailin Hunsaker, Director
Human Services
Guy Williams, Manager
Parks Planning and Natural
Resources
Leslie Betlach, Director
Recreation and
Neighborhoods Jennifer Henning, Director
Airport
Vacant, Manager Building Official
Craig Burnell
Organizational Development
Kristi Rowland, Manager
2019 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1-7
Office of the Washington State Auditor
Pat McCarthy
INDEPENDENT AUDITOR’S REPORT ON FINANCIAL STATEMENTS
August 5, 2020
Mayor and City Council
City of Renton
Renton, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund and the aggregate remaining fund information of the City of Renton, as of
and for the year ended December 31, 2019, and the related notes to the financial statements, which
collectively comprise the City’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the City’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the City’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, each major fund
and the aggregate remaining fund information of the City of Renton, as of December 31, 2019, and the
respective changes in financial position and, where applicable, cash flows thereof for the year then ended
in accordance with accounting principles generally accepted in the United States of America.
Matters of Emphasis
As discussed in Note 15 to the financial statements, in February 2020, a state of emergency was declared
which could have a negative financial effect on the City. Our opinion is not modified with respect to this
matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis and required supplementary information listed in the table of contents be
presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board who considers it to
be an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements as a whole. The combining financial statements and
schedules are presented for the purposes of additional analysis and are not a required part of the basic
financial statements. Such information is the responsibility of management and was derived from and
relates directly to the underlying accounting and other records used to prepare the financial statements.
This information has been subjected to auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the financial statements or to the
financial statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the information is fairly stated, in all
material respects, in relation to the basic financial statements taken as a whole.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements as a whole. The Introductory and Statistical Sections are
presented for purposes of additional analysis and are not a required part of the basic financial statements
of the City. Such information has not been subjected to the auditing procedures applied in the audit of
the basic financial statements and, accordingly, we do not express an opinion or provide any assurance
on it.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS
In accordance with Government Auditing Standards, we will also issue our report dated August 5, 2020,
on our consideration of the City’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City’s internal control over financial
reporting and compliance.
Sincerely,
Pat McCarthy
State Auditor
Olympia, WA
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2019 Comprehensive Annual Financial Report City of Renton, Washington
Independent Auditor's Report, 2-4
MANAGEMENT’S DISCUSSION AND ANALYSIS
The City of Renton’s management offers this Management’s Discussion and Analysis (MD&A), which is
an overview and analysis of the City of Renton’s financial activities for the year ended December 31,
2019. To best understand the City’s financial activities, we encourage readers to consider the
information in this discussion and analysis in conjunction with information provided in the letter of
transmittal and the basic financial statements.
FINANCIAL HIGHLIGHTS
•As of December 31, 2019, the City of Renton’s total assets and deferred outflows of resources
exceed liabilities and deferred inflows of resources by $1 billion. Of this amount, $165 million
represents unrestricted net position, which may be used to meet the government’s ongoing
obligations to citizens and creditors.
•The City of Renton’s total net position increased $50 million. This increase was due to
accumulation of reserves and capital asset acquisitions in both the governmental and business‐
type activities.
•At the close of the current fiscal year, the City of Renton’s governmental funds reported
combined fund balances of $126 million, an increase of $28 million from 2018. This increase is
due to revenues exceeding expenditures in the general fund as well as proceeds from the
issuance of long‐term debt.
•Approximately 36 percent ($45.6 million) of the total governmental fund balance is available
for spending at the City’s discretion (unassigned fund balance).
•Total unrestricted fund balance (the total of committed, assigned and unassigned fund balance
components) for the general fund was $53.4 million, which is approximately 58 percent of
general fund 2019 expenditures.
•The City of Renton’s total outstanding long‐term debt increased by $10.4 million during the
current fiscal year. The City issued Limited Tax General Obligation (LTGO) bonds in March of
2019 for two different projects. $12.96 million were to fund parks improvements and $7.9
million for the South Lake Washington Revitalization area.
•The economic outlook for the City is strong, although the financial impacts on the revenues
related to the COVID‐19 pandemic has yet to be fully determined as many of the general fund
revenues are from taxes generated from the local businesses. In the meantime, the City has
implemented interim cost containment measures until the overall impact can be better
quantified.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis provided here are intended to serve as an introduction to the City’s basic
financial statements. The basic financial statements consist of three components: (1) government‐
wide financial statements, (2) fund financial statements, and (3) notes to the basic financial
statements.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-1
Government‐wide Financial Statements
The government‐wide financial statements provide both long‐term and short‐term information about
the City’s overall financial status, in a manner similar to a private‐sector business.
Statement of Net Position – The first of these government‐wide statements is the statement of net
position. The statement of net position presents the City’s assets, liabilities, and deferred
inflows/outflows of resources, with the difference reported as net position. Over time, increases or
decreases in net position may serve as a useful indicator of whether the financial position of the City is
improving or deteriorating.
Statement of Activities – The second government‐wide statement is the statement of activities, which
reports how the City’s net position changed during the current fiscal year. All changes in net position
are reported as soon as the underlying event giving rise to the change, regardless of the timing of
related cash flows. Thus, revenues and expenses are reported for some items that will only result in
cash flows in future fiscal periods (ex. uncollected taxes and compensated absences). An important
purpose of the design of the statement of activities is to show the financial reliance of the City’s
distinct activities or functions on revenues provided by the City’s taxpayers. Another indicator to
consider when evaluating the financial position of the City includes changes to the property tax base,
general economic conditions as demonstrated through business licenses fees or sales tax revenue, and
the condition of the City’s infrastructure (roads, drainage systems, bridges, and water infrastructure).
Both of the government‐wide financial statements distinguish governmental activities of the City
(activities principally supported by taxes and intergovernmental revenue), and business‐type activities
of the City (activities that are intended to recover all, or a significant portion, of their costs through
user fees and charges). Governmental activities include general government, judicial, public safety,
utilities, transportation, economic environment, health and human services, and culture and
recreation. The equipment rental and insurance internal service funds are also reported as
governmental activities. The business‐type activities include the waterworks utility, solid waste,
airport, and golf course funds. The government‐wide financial statements can be found on page 4‐1
and 4‐2 of this report.
Fund Financial Statements
The City uses fund structure to ensure and demonstrate fiscal integrity and compliance with finance‐
related legal requirements. A fund is a group of related accounts used to maintain control over
resources that have been segregated for specific activities and objectives. There are three types of
funds: governmental, proprietary, and fiduciary. The fund financial statements focus on major funds
separately while all others are combined into a single aggregated presentation. Individual data for
non‐major funds is presented in a following section, Combining Statements.
Governmental Funds – The governmental funds are used to account for the same functions reported
as governmental activities in the government‐wide financial statements. However, unlike the
government‐wide statements, the focus of governmental fund financial statements is on near‐term
inflows and outflows of available financial resources and on balances of resources available at the end
of the fiscal year. Such information is useful in evaluating whether there are more or less financial
resources that can used in the near future to finance City services. The basic governmental fund
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-2
financial statements can be found on pages 4‐3 and 4‐5 of this report.
Because the focus of governmental fund financial statements is a narrower view than that of the
government‐wide financial statements, it is useful to compare similar information in order to gain a
better understanding of the long‐term impact of the government’s near‐term financing decisions. The
Reconciliation of the Balance Sheet and Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balances of the Governmental Funds reconciles to the differences between the
governmental fund statements and the governmental activities column in the government‐wide
statements.
The City maintains twelve individual governmental funds. Information for the City’s major
governmental funds (general and municipal facilities CIP) are presented separately in the
governmental fund balance sheet and the governmental fund statement of revenues, expenditures,
and changes in fund balance. Data from the other nine funds are combined into a single aggregated
presentation. Individual fund data for each of these non‐major governmental funds is presented in the
combining statements section of this report.
The City maintains budgetary controls over its governmental funds. Budgetary controls ensure
compliance with legal provisions embodied in the annual appropriated budget. Governmental fund
budgets are established in accordance with state law and are adopted on a fund level. A budgetary
comparison statement has been provided for the general fund to demonstrate compliance with this
budget.
Proprietary Funds – The proprietary fund statements present information for two types of funds.
Enterprise funds operate as business‐type activities in the government‐wide statements and include
the waterworks utility, solid waste, golf course, and airport funds. The other proprietary fund types are
internal service funds. Internal service funds are used to report activities that provide supplies and
services to various City departments and to allocate the associated costs of providing these services to
the various governmental and enterprise functions. The revenues and expenses of internal service
funds that support governmental activities are eliminated in the government‐wide statements and the
remaining activity is combined within the governmental activities in the government‐wide statements.
The proprietary fund statements provide the same information as the government‐wide financial
statements, only in more detail. The City reports the activity of its two major enterprise funds,
waterworks utility (water, wastewater, and storm water) and solid waste separately. Information from
the remaining non‐major enterprise funds are combined and presented in a single, aggregated column
in the fund statements. Internal service funds are also aggregated and reported separately in this
section. The basic proprietary fund financial statements can be found on pages 4‐7 through 4‐10 of
this report.
Fiduciary Funds – Fiduciary Funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not reported in the government‐wide financial
statements because the resources of those funds are not available to support the City’s own
operations. The accounting used for fiduciary funds is much like that used for proprietary funds. The
fiduciary fund financial statements can be found on pages 4‐11 and 4‐12 of this report.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-3
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the information
provided and are an integral part of the government‐wide and fund financial statements. The notes to
the financial statements can be found pages 4‐13 through 4‐64 of this report.
Other information
In addition to the basic finance statements and accompanying notes, this report also presents:
1. Required Supplemental Information (RSI)
RSI provides budgetary comparisons for the general fund budget to actual, as well as the City’s
funding progress for the Firefighters’ Pension Trust Fund and Other Post‐Employment Benefits
(LEOFF 1 Retiree Medical). RSI can be found on page 5‐1 through 5‐13 of this report.
2. Combining Statements
The combining statements provide additional detail for other government funds, internal service
funds, and fiduciary funds. Combining and individual fund statements and schedules can be found
on page 6‐1 through 6‐33 of this report.
3. Statistical Information
This section includes unaudited trends and demographic information. The statistical section can be
found on page 7‐1 through 7‐30 of this report.
GOVERNMENT‐WIDE FINANCIAL ANALYSIS
Statement of Net Position
The following is a summary of the City’s net position as of December 31, 2019, with comparison to
2018:
2019 2018 2019 2018 2019 2018
Current assets 198,042,461$ 163,534,069$ 104,374,957$ 96,741,964$ 302,417,418$ 260,276,033$
Capital assets 496,080,559 488,940,606 314,365,996 309,346,796 810,446,555 798,287,402
Other non‐current assets 61,095,814 57,956,684 53,768 86,411 61,149,582 58,043,095
TOTAL ASSETS 755,218,834 710,431,359 418,794,721 406,175,171 1,174,013,555 1,116,606,530
Deferred Outflows of Resources 5,428,540 5,090,387 1,636,807 1,631,657 7,065,347 6,722,044
Long‐term liabilities 121,634,136 115,150,600 25,845,604 29,361,720 147,479,740 144,512,320
Other liabilities 13,830,419 12,760,866 6,538,987 4,035,953 20,369,406 16,796,819
TOTAL LIABILITIES 135,464,555 127,911,466 32,384,591 33,397,673 167,849,146 161,309,139
Deferred Inflows of Resources 10,485,616 9,480,480 1,859,210 1,620,824 12,344,826 11,101,304
NET POSITION:
478,173,369 473,667,290 293,076,667 285,507,078 771,250,036 759,174,368
Restricted 61,745,083 36,805,133 2,810,145 2,810,145 64,555,228 39,615,278
Unrestricted 74,778,751 67,657,377 90,300,915 84,471,108 165,079,666 152,128,485
TOTAL NET POSITION 614,697,203$ 578,129,800$ 386,187,727$ 372,788,331$ 1,000,884,930$ 950,918,131$
Net Investment in Capital Assets
Governmental Activities Business‐type Activities
CONDENSED STATEMENT OF NET POSITION
Total
As noted earlier, the change in net position over time, may serve as a useful indicator of a
government’s financial situation. At the close of the most recent fiscal year, assets and deferred
outflows of resources exceeded liabilities and deferred inflows of resources by $1 billion, a $50
million increase over 2018.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-4
Net Position – Net Investment in Capital
Assets. $771 million (77%) of total net
position reflects the City’s investment in
capital, net of related debt that was used to
acquire those assets. The City uses these
assets to provide a variety of services to
citizens. Accordingly, these assets are not
available for future spending. Although
investment in capital assets are reported
net of related debt, it should be noted that
the resources used to repay this debt must
be provided from other sources, since the
capital assets themselves cannot be used
to liquidate these liabilities.
Net Position – Restricted. Total restricted
net position accounts for $64.5 million of
the City’s net position, which is a $25
million increase (63%) from 2018. This
increase is a result of the issuance of debt
to fund large capital projects and an
increased balance of restricted revenue
sources that have not been spent (REET, KC
Parks Levy, Impact Mitigation Fees). Many
of the restricted revenue sources have
been budgeted for capital projects that
have been carried forward for expenditure
in 2020.
Net Position – Unrestricted. The remaining
$165.1 million of net position is
unrestricted may be used to meet the
government’s ongoing obligations for
governmental and business type activities
($74.8 million and $90.3 million,
respectively).
At the end of the current fiscal year, the City reports a positive net position in all net position
categories, for both governmental activities and business‐type activities. The same held true for the
prior fiscal year. Further, all categories of net position increased in the current fiscal year.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-5
Statement of Activities and Change in Net Position
The following is a condensed summary statement of activities and change in net position as of
December 31, 2019, with comparison to 2018.
CONDENSED STATEMENT OF ACTIVITIES
2019 2018 2019 2018 2019 2018
Revenues:
Program revenues:
Charges for services 24,606,512$ 24,707,174$ 83,939,119$ 82,556,915$ 108,545,631$ 107,264,089$
Operating grants and contributions 7,458,503 6,921,332 1,099,731 572,719 8,558,234 7,494,051
Capital grants and contributions 7,615,827 5,700,805 7,341,238 6,285,279 14,957,065 11,986,084
Taxes and other general revenues:‐
Property taxes 21,706,506 19,046,123 ‐ ‐ 21,706,506 19,046,123
Sales taxes 32,955,528 33,564,285 ‐ ‐ 32,955,528 33,564,285
Other Taxes 36,637,695 38,007,776 ‐ ‐ 36,637,695 38,007,776
Other general revenue 3,719,259 4,226,563 1,609,376 1,122,902 5,328,635 5,349,465
Total revenues 134,699,830 132,174,058 93,989,464 90,537,815 228,689,294 222,711,873
Expenses:
General government 13,188,036 11,693,087 ‐ ‐ 13,188,036 11,693,087
Judicial 3,036,172 2,612,931 ‐ ‐ 3,036,172 2,612,931
Public safety 34,493,076 35,406,820 ‐ ‐ 34,493,076 35,406,820
Utilities 270,397 675,076 ‐ ‐ 270,397 675,076
Transportation 20,091,069 18,828,845 ‐ ‐ 20,091,069 18,828,845
Economic and natural environment 8,032,974 7,514,571 ‐ ‐ 8,032,974 7,514,571
Health and human services 2,486,008 2,260,902 ‐ ‐ 2,486,008 2,260,902
Culture and recreation 15,040,743 13,802,266 ‐ ‐ 15,040,743 13,802,266
Interest on long‐term debt 1,562,735 1,077,950 ‐ ‐ 1,562,735 1,077,950
Airport ‐ ‐ 3,270,117 2,713,567 3,270,117 2,713,567
Golf Course ‐ ‐ 2,442,180 2,277,544 2,442,180 2,277,544
Solid Waste ‐ ‐ 20,544,997 19,648,560 20,544,997 19,648,560
Waterworks Utility ‐ ‐ 54,263,991 50,408,232 54,263,991 50,408,232
Total expenses 98,201,210 93,872,448 80,521,285 75,047,903 178,722,495 168,920,351
36,498,620 38,301,610 13,468,179 15,489,912 49,966,799 53,791,522
Transfers 68,783 (256,835) (68,783) 256,835 ‐ ‐
Increase (decrease) in net position 36,567,403 38,044,775 13,399,396 15,746,747 49,966,799 53,791,522
Net position ‐ beginning 578,129,800 575,632,713 372,788,331 357,041,584 950,918,131 932,674,297
Prior Period Adjustment ‐ ‐ ‐ ‐ ‐ ‐
Change in Accounting Principle ‐ (35,547,688) ‐ ‐ ‐ (35,547,688)
Net position ‐ ending 614,697,203$ 578,129,800$ 386,187,727$ 372,788,331$ 1,000,884,930$ 950,918,131$
Governmental Activities Business‐type Activities Total
Increase in net position before transfers
Citywide revenue. Total revenue (Governmental and Business‐type) increased by $6 million, or 2.7
percent. Most which is attributed to a $2.7 million increase in property tax (Governmental Activities),
a $4 million increase in capital and operating grants and contributions (Business‐type and
Governmental Activities), a $1.3 million increase in charges for services (Business‐type Activities), and
offset by a $1.4 million decrease in other taxes (Governmental Activities) and a $0.6 million decrease
in sales taxes (Governmental Activities). The property tax increase is a result of the Park Bond Levy to
fund parks improvements. The $4 million increase in capital grants and contributions is a result of an
overall increase in grant revenues, to fund large grant funded transportation projects along Renton
Ave and Hardie Ave for ADA upgrades, and capital contributions for major utility system rehabilitations
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-6
at Kennydale and Renton Hill. The $1.3 million increase in charges for services revenue is due to the
recording of solid waste customer receivables not previously recorded.
Citywide expenses. Expenses totaled $179 million in 2019, a $9.8 million increase from 2018.
Governmental activities expenses increased $4.3 million due to some large repairs to City Hall.
Business‐type expenses increased by $5.5 million due to an increase to contracted services for utility
system repairs, an assessment from King County Waste Water audit and a large loss on abandoned
infrastructure.
Change in net position. The resulting change in net position was an increase in 2019 by $49.9 million: a
$1.5 million decrease from governmental activities and a $2.4 million decrease from business‐type
activities. The decrease in governmental activities and business‐type activities is related to revenue
and expenditure variances explained above.
Governmental Activities Analysis
Governmental activities cost a total of $96.6 million in 2019 against program generated revenue
(excluding taxes and other general revenue) of $39.7 million. Program revenues support 41 percent of
the governmental program costs, while the remaining 59 percent of governmental program costs are
supported by general revenues (taxes and other general revenue). Compared to 2018, governmental
activities cost increased $3.8 million and program revenues increased $2.4 million.
Chart 1 portrays the extent that the cost of each of the City’s governmental programs is supported by
its own program generated revenue (fees, intergovernmental revenues, and contributions specifically
related to that program). Public safety accounts for 36 percent of the total governmental activity
costs, but generates the second lowest percentage of program revenues compared to its program
costs (9 percent). Conversely, judicial recovered all of their costs in 2019 through program revenues,
which consist of traffic citations, parking citations, criminal charges, miscellaneous court fees, and red
light camera fees.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-7
Chart 2 depicts the source
breakdown for all revenues that
fund governmental activities.
Approximately 67 percent of the
total governmental activity
revenues come from taxes. The
City’s largest governmental
revenue source is other taxing
sources (27 percent), which
consists of Business and
Occupation Tax and Excise Tax. The
second largest source is sales and
use tax (24 percent). Property tax
accounts for 16 percent of the
City’s general governmental
revenue. The remaining 3 percent,
other general revenue, accounts
for interest, and miscellaneous
revenue. While program specific
charges for services, grants and contributions generate 30 percent of total revenue for general
governmental activities, the City is largely dependent on tax revenue and as a result, the general
economy has a major impact on the City’s revenue streams.
Business‐Type Activities Analysis
Since the primary source of revenue for business‐type activities is user fees and charges, there is much
less disparity between program costs and related program revenue. Chart 3 shows the expense of
each of the City’s business‐type program along with each programs’ revenue (fees and
intergovernmental revenues specifically related to that program).
The Waterworks Utility generated $56.5 million in fees for services, and the operating and debt service
costs were $54.2 million. In addition, the waterworks utility received $8 million in grants,
contributions, and capital contributions from developers, for a combined increase in net position of
$10.3 million. The operating
balance is necessary for future
planned system infrastructure
replacements, repairs, and
enhancements. Compared to
2018, the waterworks utility had
a $.9 million increase operating
revenue collections and a $3.9
million increase operating
expenses.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-8
The Solid Waste Utility generated $21.8 million in total revenue and incurred $20.5 million in program
expenses. In addition the solid waste fund received $238 thousand in grants and contributions,
resulting in an increase in net position of $1.5 million.
The Airport generated a total of $3.2 million in revenue from charges for services and $3.3 million in
expenses along with $143 thousand in grants and contributions in 2019, which resulted in a $50,000
increase in net position.
The Golf Course generated a total of $2.4
million in green fees, driving range charges,
and other user fees. The total expenses for
the Golf Course were $2.4 million. The Golf
Course had a $44,000 decrease in net
position for the year.
Chart 4 illustrates the source of revenue for
Business‐type activities; which are
supported primarily from charges for
services. Charges for services generated
$84 million, or 89 percent, of the total
revenue sources, while grant revenue and
contributions generated $8.4 million, or 9
percent, of the total revenue sources. This
is consistent with the in charges for services
and a $1.4 million increase in grants and contributions from 2018.
FUND FINANCIAL ANALYSIS
Governmental Funds
The governmental fund statements provide information on near‐term inflows, outflows, and balances
of spendable resources. Such information is useful in assessing the City’s ability to meet financing
requirements in the near term. In particular, unassigned fund balance may serve as a useful measure
of a government’s net resources available for spending at the end of the fiscal year.
General Fund – At the end of the fiscal year, the City had a fund balance of $55 million, which is an
increase of $3 million from 2018. Overall, the City’s general fund revenues increased $7.2 million over
2018 (net effect of increased in taxes and charges for services), and general fund expenditures have
increased by $5.6 million. However, revenue outpaced the growth of expenditures, due to
conservative budget estimates.
Municipal Facilities CIP Fund – This fund accounts for all of the City’s parks and facilities related capital
projects (new construction, major maintenance, and improvements). Overall revenue decreased $3.4
million over 2018. In prior years a portion of the tax revenue was previously allocated to this fund but
it was determined to be more appropriate to allocate all tax revenues to the general fund and then
process a transfer to this fund to support these capital projects. Expenditures increased $2.8 million, a
result of the construction costs related to Coulon deck replacement and City Hall repairs.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-9
Proprietary Funds
The proprietary fund financial statements provide the same type of information found in the
government‐wide financial statements, but in more detail. The analysis for the proprietary funds is
found within the business‐type activities analysis and discussion above. The proprietary fund
statements also include a column for internal services fund activities in aggregate. These activities are
consolidated with general governmental activities in the government‐wide statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
The City uses a biennial budget process that adopts two one‐year budgets at one time. 2019 was the
first year of the 2019‐20 biennium. The following is a condensed summary of the 2019 general fund
budget comparison.
Original Final Actual
Variance with
Final Budget
Taxes 72,634,628$ 84,027,220$ 84,629,363$ 602,143$
Various charges 23,152,330 25,073,632 25,187,484 113,852$
Other Revenues 2,625,571 3,230,551 3,677,127 446,576$
TOTAL REVENUES 98,412,529 112,331,403 113,493,974 1,162,571
Current Operating 96,651,765 100,767,100 96,261,637 (4,505,463)
Capital Outlay 5,200 1,058,168 144,877 (913,291)
Debt Service 175,000 175,000 175,000 ‐
TOTAL EXPENDITURES 96,831,965 102,000,268 96,581,514 (5,418,754)
Transfers/insurance recoveries (3,493,000) (18,563,463) (14,109,227) 4,454,236
(1,912,436) (8,232,328) 2,803,233 11,035,561
Fund Balance ‐ January 1 30,807,162 44,542,987 52,059,775 7,516,788
FUND BALANCE ‐ DECEMBER 31 28,894,726$ 36,310,659$ 54,863,008$ 18,552,349$
GENERAL FUND BUDGET COMPARISON
Budgeted Amounts
Net Change in Fund Balance
Original budget for tax revenues including property taxes, business and occupation taxes and other
miscellaneous taxes are budgeted based on the previous four to five years collection rates. The final
budget was adjusted to more accurately reflect the overall tax revenues based on current year
projects and activity to date. Both the real estate excise taxes and the business and occupation taxes
came in higher than projected for an overall variance of $0.6 million.
Original budget for expenditures was adjusted for personnel costs related to union contract
ratifications, several capital project coordinator positions were added to manage new bond funded
projects and additional downtown improvements. Current expenditures were down from the adjusted
2019 budget primarily due to a significant number of positions remained unfilled, and funding for
transportation capital improvement projects and downtown improvements that were budgeted but
not spent by year end. The budget for these projects were carried forward to 2020.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-10
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City of Renton’s investment in capital assets, including construction in progress and net of
accumulated depreciation, for governmental and business‐type activities amounts to $810 million as
of December 31, 2019, compared to $798 million in 2018.
CAPITAL ASSETS
(Net of Depreciation/Amortization)
2019 2018 2019 2018 2019 2018
Land and Land Improvements 212,297,657$ 210,632,400$ 6,150,056$ 6,150,056$ 218,447,713$ 216,782,456$
Capital Assets 269,504,702 262,679,896 291,264,108 291,466,408 560,768,810 554,146,304
Intangible Assets 524,919 369,075 951,950 997,663 1,476,869 1,366,738
Construction in Progress 13,753,281 15,259,235 15,999,882 10,732,669 29,753,163 25,991,904
Total 496,080,559$ 488,940,606$ 314,365,996$ 309,346,796$ 810,446,555$ 798,287,402$
Governmental Activities Business‐Type Activities Total
The increase of $12.1 million is attributed to a couple of large capital projects. These largest projects
include new construction for the Kennydale Reservoir ($4.1 million), completion of Fire Station 15
construction ($5.6 million), continued Renton Hill Utility Rehabilitation ($6 million), Coulon Park Deck
replacement ($1.7 million) and City Hall elevator replacement ($1.3 million). These increases were
offset by $8 million in work‐in‐progress reclassifications.
As of December 31, 2019, depreciable capital assets for governmental activities were 39 percent
depreciated, the same rate as 2018. This comparison indicates the City is replacing its assets at almost
the same rate that are depreciating, which is a positive indicator. More detailed capital asset
information is provided in Note 4 of the Notes to Financial Statements.
Debt Administration
The City’s total outstanding debt at December 31, 2019, was $89.6 million, a $10.4 million (13 percent)
increase from the prior year. This net change reflects a combination of the increase in new debt
issued in the amount of $20.86 Million as well as the City’s continued commitment to paying down
debt. More detailed debt information is provided in Note 10 of the Notes to Financial Statements.
2019 2018 2019 2018 2019 2018
General Obligation Bonds 39,275,000$ 23,245,000$ ‐$ ‐$ 39,275,000$ 23,245,000$
Revenue Bonds ‐ ‐ 20,040,000 22,285,000 20,040,000 22,285,000
Other Long‐Term Debt 24,588,551 29,845,813 1,552,448 1,898,266 26,140,999 31,744,079
Unamortized Premium (Discount) 3,723,621 1,460,089 404,953 455,572 4,128,574 1,915,661
Total 67,587,172$ 54,550,902$ 21,997,401$ 24,638,838$ 89,584,573$ 79,189,740$
Governmental Activities Business‐Type Activities
LONG‐TERM DEBT
Total
The City’s general obligation debt rating was upgraded to AAA by Standard and Poor in March 2019.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-11
REQUESTS FOR FINANCIAL INFORMATION
This financial report is designed to provide our citizens, creditors, investors, and others interested in
the City’s finances with a general overview of the City’s finances and to show the City’s accountability
for financial resources it receives. If you have any questions about this report or need additional
information, please contact Jan Hawn, Administrative Services Administrator, 1055 South Grady Way,
Renton, WA 98057 or visit our web site at www.rentonwa.gov.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Management's Discussion and Analysis, 3-12
Governmental
Activities
Business‐type
Activities Total
ASSETS
Current assets:
Cash and cash equivalents $ 130,625,927 $ 67,311,201 $ 197,937,128
Cash with fiscal agent 1,117,317 ‐ 1,117,317
Investments at fair value 44,095,237 24,044,735 68,139,972
Receivables (net of allowance for uncollectibles)21,799,155 9,832,425 31,631,580
Inventories 183,965 376,451 560,416
Prepayments 220,860 ‐ 220,860
Restricted assets:
Cash and cash equivalents ‐ 2,810,145 2,810,145
Noncurrent assets:
Notes and assessments receivable 1,121,022 53,768 1,174,790
Net pension asset 22,560,995 ‐ 22,560,995
Investment in joint ventures (net)37,413,797 ‐ 37,413,797
Capital assets not being depreciated:
Land 212,297,657 6,150,056 218,447,713
Construction in progress 13,753,281 15,999,882 29,753,163
Capital assets (net of accumulated depreciation)269,504,702 291,264,108 560,768,810
Intangible assets (net of accumulated amortization)524,919 951,950 1,476,869
TOTAL ASSETS 755,218,834 418,794,721 1,174,013,555
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pensions 4,882,695 928,735 5,811,430
Deferred amount on refunding 545,845 708,072 1,253,917
TOTAL DEFERRED OUTFLOWS OF RESOURCES 5,428,540 1,636,807 7,065,347
LIABILITIES
Current liabilities:
Accounts payable and other current liabilities 12,289,718 6,061,974 18,351,692
Interest payable 275,395 42,427 317,822
Unearned revenue 1,265,306 434,586 1,699,892
Noncurrent liabilities:
Due within one year 9,137,768 3,115,441 12,253,209
Due in more than one year 112,496,368 22,730,163 135,226,531
TOTAL LIABILITIES 135,464,555 32,384,591 167,849,146
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions 10,485,616 1,859,210 12,344,826
TOTAL DEFERRED INFLOWS OF RESOURCES 10,485,616 1,859,210 12,344,826
NET POSITION
Net investment in capital assets 478,173,369 293,076,667 771,250,036
Restricted for:
Debt service 432,622 2,810,145 3,242,767
Grants and contributions 826,112 ‐ 826,112
Pensions 22,560,995 ‐ 22,560,995
Special purpose taxes & assessments 18,052,140 ‐ 18,052,140
Special purpose bonds 19,873,214 ‐ 19,873,214
Unrestricted 74,778,751 90,300,915 165,079,666
TOTAL NET POSITION $ 614,697,203 $ 386,187,727 $ 1,000,884,930
City of Renton
Statement of Net Position
December 31, 2019
Primary Government
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-1The notes to the financial statements are an integral part of this statement
Functions/ProgramsExpenses Charges for ServicesOperating Grants and ContributionsCapital Grants and ContributionsGovernmental ActivitiesBusiness‐type ActivitiesTotalPRIMARY GOVERNMENT:GOVERNMENTAL ACTIVITIES:General government $ 13,188,036 $ 7,400,036 $ 1,619,419 $ ‐ $ (4,168,581) $ ‐ $ (4,168,581)Judicial 3,036,172 5,237,160 30,366 ‐ 2,231,354 ‐ 2,231,354 Public safety 34,493,076 1,529,648 1,807,441 ‐ (31,155,987) ‐ (31,155,987)Utilities 270,397 ‐ ‐ ‐ (270,397) ‐ (270,397)Transportation 20,115,889 2,383,972 3,406,010 6,655,374 (7,670,533) ‐ (7,670,533)Economic environment 8,008,154 5,253,540 140,392 57,963 (2,556,259) ‐ (2,556,259)Health and human services 2,486,008 123,391 162,216 ‐ (2,200,401) ‐ (2,200,401)Culture and recreation 15,040,743 2,678,765 292,659 902,490 (11,166,829) ‐ (11,166,829)Interest on long‐term debt 1,562,735 ‐ ‐ ‐ (1,562,735) ‐ (1,562,735)TOTAL GOVERNMENTAL ACTIVITIES 98,201,210 24,606,512 7,458,503 7,615,827 (58,520,368) ‐ (58,520,368)BUSINESS‐TYPE ACTIVITIES:Airport 3,270,117 3,177,298 143,030 ‐ ‐ 50,211 50,211 Golf Course 2,442,180 2,397,796 ‐ ‐ ‐ (44,384) (44,384)Solid Waste 20,544,997 21,817,526 237,919 ‐ ‐ 1,510,448 1,510,448 Waterworks Utility 54,263,991 56,546,499 718,782 7,341,238 ‐ 10,342,528 10,342,528 TOTAL BUSINESS‐TYPE ACTIVITIES 80,521,285 83,939,119 1,099,731 7,341,238 ‐ 11,858,803 11,858,803 TOTAL PRIMARY GOVERNMENT $ 178,722,495 $ 108,545,631 $ 8,558,234 $ 14,957,065 (58,520,368) 11,858,803 (46,661,565) 21,706,506 ‐ 21,706,506 32,955,528 ‐ 32,955,528 30,151,752 ‐ 30,151,752 6,485,943 ‐ 6,485,943 3,011,779 1,365,411 4,377,190 663,782 243,965 907,747 43,698 ‐ 43,698 68,783 (68,783) ‐ 95,087,771 1,540,593 96,628,364 36,567,403 13,399,396 49,966,799 578,129,800 372,788,331 950,918,131 $ 614,697,203 $ 386,187,727 $ 1,000,884,930 City of RentonStatement of ActivitiesFor the Year Ended December 31, 2019Net (Expense) Revenue and Changes in Net PositionProgram RevenuesPrimary GovernmentGENERAL REVENUES:Taxes:Property taxesRetail sales taxesBusiness taxesExcise taxesInterest and investment earningsMiscellaneousGain on sale of assetsTRANSFERSTOTAL GENERAL REVENUES, TRANSFERS, AND SPECIAL ITEMSCHANGE IN NET POSITIONNET POSITION ‐ JANUARY 1NET POSITION ‐ DECEMBER 312019 Comprehensive Annual Financial ReportCity of Renton, WashingtonBasic Financial Statements, 4-2The notes to the financial statements are an integral part of this statement
General
Municipal Facilities
CIP Total Nonmajor Funds
Total Governmental
Funds
ASSETS
Cash & cash equivalents $ 38,352,324 $ 29,509,207 $ 22,656,579 $ 90,518,110
Cash with fiscal agent 1,117,317 ‐ ‐ 1,117,317
Investments at fair value 12,453,457 10,119,078 7,769,225 30,341,760
Prepayments ‐ ‐ 7,200 7,200
Receivables, net of allowances:
Taxes 4,659,412 ‐ ‐ 4,659,412
Customer accounts 8,000,841 ‐ 270,749 8,271,590
Accrued interest & penalties 236,617 149,136 99,772 485,525
Notes and assessments receivable 481,022 640,000 ‐ 1,121,022
Due from other funds ‐ ‐ 2,287,710 2,287,710
Due from other governments 6,725,761 411,524 974,277 8,111,562
TOTAL ASSETS $ 72,026,751 $ 40,828,945 $ 34,065,512 $ 146,921,208
LIABILITIES
Accounts payable $ 1,487,798 $ 885,032 $ 741,850 $ 3,114,680
Taxes payable 34,366 ‐ ‐ 34,366
Retainage payable 4,828 354,886 43,697 403,411
Due to other funds 2,287,710 ‐ ‐ 2,287,710
Due to other governments 2,936 ‐ ‐ 2,936
Interfund loans payable 175,000 ‐ ‐ 175,000
Custodial accounts 2,146,698 1,000,000 ‐ 3,146,698
Unearned revenues 934,560 ‐ 330,746 1,265,306
Wages and benefits payable 2,440,689 ‐ ‐ 2,440,689
TOTAL LIABILITIES 9,514,585 2,239,918 1,116,293 12,870,796
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 7,474,158 12,913 76,726 7,563,797
TOTAL DEFERRED INFLOWS OF RESOURCES 7,474,158 12,913 76,726 7,563,797
FUND BALANCES (DEFICITS)
Restricted 1,607,617 18,714,185 18,862,286 39,184,088
Committed ‐ 9,297,808 9,054,689 18,352,497
Assigned 7,802,802 10,564,121 4,955,518 23,322,441
Unassigned 45,627,589 ‐ ‐ 45,627,589
TOTAL FUND BALANCES $ 55,038,008 $ 38,576,114 $ 32,872,493 $ 126,486,615
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND
FUND BALANCES $ 72,026,751 $ 40,828,945 $ 34,065,512 $ 146,921,208
City of Renton
Balance Sheet
Governmental Funds
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-3The notes to the financial statements are an integral part of this statement
FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ 126,486,615
Amounts reported for governmental activities in the statement of net position are different because:
Other non‐current assets and deferred outflows of resources used in governmental activities are not
financial resources and, therefore, are not reported in the governmental funds.
Investment in Joint Venture‐SCORE 30,982,911
Investment in Joint Venture‐Valley Communications 6,430,886
Net pension assets 22,560,995
Deferred outflows related to pensions 4,291,206
Deferred outflows related to refundings 545,845 64,811,843
Capital assets used in governmental activities are not financial resources and, therefore, are not reported
in the governmental funds.
Land 212,297,657
Construction in progress 13,753,281
Capital assets (net of accumulated depreciation)255,827,485
Intangible assets (net of accumulated amortization)29,842 481,908,265
Other long‐term assets are not available to pay for current period expenditures and, therefore, are
reported as unavailable revenue in the funds.
Property tax revenue 162,633
Municipal court revenue 726,430
Photo enforcement revenue 6,306,185
Other 368,549 7,563,797
Certain liabilities are not due and payable in the current period and, therefore, are not reported in the
governmental funds.
Interest payable (275,394)
Bonds payable (67,584,567)
Compensated absences (3,681,574)
Net pension liabilities (8,501,552)
Deferred inflows related to pensions (9,301,529) (89,344,616)
Accrued pension expense reported in the governmental funds is not included in the calculation of the net
pension liability.168,601
Internal service funds are used by management to charge the costs of certain activities, such as equipment
rental, self‐insurance, information technology and facility services to individual funds. The assets and
liabilities of the internal service funds are included in the governmental activities in the statement of net
position.23,102,698
NET POSITION OF GOVERNMENTAL ACTIVITIES $ 614,697,203
Reconciliation of the Balance Sheet
To the Statement of Net Position
December 31, 2019
City of Renton
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-4The notes to the financial statements are an integral part of this statement
General Municipal Facilities CIP Total Nonmajor Funds
Total Governmental
Funds
REVENUES
Taxes $ 84,629,363 $ 610,295 $ 6,059,701 $ 91,299,359
Licenses and permits 5,730,457 ‐ 105,925 5,836,382
Intergovernmental revenues 5,414,357 866,532 2,183,790 8,464,679
Charges for services 5,307,223 10,643 2,594,779 7,912,645
Fines and forfeits 4,688,193 4,340 55,788 4,748,321
Contributions 209,625 ‐ 28,962 238,587
Investment earnings 1,388,265 530,423 347,419 2,266,107
Miscellaneous revenue 2,079,237 ‐ 293 2,079,530
Total revenues 109,446,720 2,022,233 11,376,657 122,845,610
EXPENDITURES
Current:
General government 12,293,173 130,040 ‐ 12,423,213
Judicial 3,162,916 ‐ ‐ 3,162,916
Public safety 42,841,721 ‐ ‐ 42,841,721
Utilities 244,452 ‐ ‐ 244,452
Transportation 10,634,812 ‐ ‐ 10,634,812
Economic environment 7,703,781 49,139 341,154 8,094,074
Health and human services 2,515,683 ‐ ‐ 2,515,683
Culture and recreation 12,817,845 732,973 57,457 13,608,275
Capital outlay:
General government 27,188 5,453,278 ‐ 5,480,466
Public safety 23,283 994,961 ‐ 1,018,244
Economic environment 82,163 ‐ ‐ 82,163
Culture and recreation 12,243 3,865,510 123,813 4,001,566
Transportation ‐ 5,649,266 5,649,266
Debt service:
Principal payment ‐ ‐ 5,167,947 5,167,947
Interest and fiscal charges ‐ ‐ 1,646,927 1,646,927
Total expenditures 92,359,260 11,225,901 12,986,564 116,571,725
Excess (deficiency) of revenues over expenditures 17,087,460 (9,203,668) (1,609,907) 6,273,885
OTHER FINANCING SOURCES (USES)
Transfer in 1,413,467 4,595,124 12,889,584 18,898,175
Transfers out (15,533,643) (765,686) (3,857,736) (20,157,065)
Sale of capital assets ‐ 20,000 ‐ 20,000
Proceeds from long‐term debt ‐ 14,654,369 8,784,483 23,438,852
Insurance Recoveries 10,949 ‐ ‐ 10,949
Total other financing sources (uses) (14,109,227) 18,503,807 17,816,331 22,210,911
Net change in fund balances 2,978,233 9,300,139 16,206,424 28,484,796
FUND BALANCE ‐ JANUARY 1 52,059,775 29,275,975 16,666,069 98,001,819
FUND BALANCE ‐ DECEMBER 31 $ 55,038,008 $ 38,576,114 $ 32,872,493 $ 126,486,615
City of Renton
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-5The notes to the financial statements are an integral part of this statement
NET CHANGES IN FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ 28,484,796
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost
of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the
amount by which depreciation and amortization expenses and the loss on transfer of capital assets to other
governments exceeded capital outlays.
Capital expenditures 9,776,561
Depreciation and amortization expense (10,542,779)
Book value of capital assets sold/abandoned (232,187) (998,405)
Governmental funds report pension expenditures when due and payable from current financial resources.
However, in the statement of activities, pension expense is measured by the change in the net pension
assets, net pension liabilities, and related deferred outflows and inflows. This is the net difference in pension
expense.4,552,758
Donations of property and infrastructure from developers are not reported in the governmental funds.
However, in the statement of activities, the fair market value of those assets is recognized as revenue.6,118,884
Revenues in the statement of activities that do not provide current financial resources are not reported as
revenue in the funds. Unavailable revenue increased by this amount.902,217
The issuance of long‐term debt (e.g., bonds, leases) provides current financial resources to governmental
funds, while the repayment of the principle of long‐term debt consumes the current financial resources of
governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds
report the effect of premiums, discounts, and refundings when debt is first issued, whereas these amounts
are deferred and amortized in the statement of activities. This amount is the net effect of these differences in
the treatment of long‐term debt and related items.(18,733,467)
Increase (decrease) in Investment in Joint Ventures which do not provide current financial resources and,
therefore, are not reported in the funds.
Equity interest‐SCORE 5,913,244
Equity interest‐Valley Communications 548,074 6,461,318
Internal service funds are used by management to charge the costs of certain activities to individual funds.
The net revenue (expense) of the internal service funds are reported with governmental activities.9,779,302
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 36,567,403
For the Year Ended December 31, 2019
City of Renton
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balances of the Governmental Funds
To the Statement of Activities
Governmental Activities
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-6The notes to the financial statements are an integral part of this statement
Governmental
Activities
Waterworks Utility Solid Waste
Total Nonmajor
Funds
Total Enterprise
Funds
Internal Service
Funds
ASSETS
Current assets:
Cash & cash equivalents $ 59,204,345 $ 2,989,533 $ 5,117,323 $ 67,311,201 $ 40,107,818
Investments at fair value 21,265,548 1,025,148 1,754,039 24,044,735 13,753,475
Receivables (net of allowances)
Customer accounts 5,697,210 2,667,213 219,690 8,584,113 44,537
Special assessments 124,087 ‐ ‐ 124,087 ‐
Interest & penalties 365,505 13,111 24,255 402,871 226,529
Interfund loans ‐ ‐ ‐ ‐ 175,000
Due from other funds 332 ‐ ‐ 332 ‐
Due from other governments 483,435 237,919 ‐ 721,354 ‐
Supplies inventory 284,149 ‐ 92,302 376,451 183,965
Prepayments ‐ ‐ ‐ ‐ 213,660
Total current assets 87,424,611 6,932,924 7,207,609 101,565,144 54,704,984
Noncurrent assets:
Restricted cash, cash equivalents 2,810,145 ‐ ‐ 2,810,145 ‐
Special assessments 53,768 ‐ ‐ 53,768 ‐
Capital assets not being depreciated:
Land 2,682,776 ‐ 3,467,280 6,150,056 ‐
Construction in Progress 15,515,503 ‐ 484,379 15,999,882 ‐
Capital assets, net of accumulated
depreciation/amortization:
Capital assets (net) 269,282,557 ‐ 21,981,551 291,264,108 13,677,217
Intangible assets (net) 951,950 ‐ ‐ 951,950 495,077
Total noncurrent assets 291,296,699 ‐ 25,933,210 317,229,909 14,172,294
TOTAL ASSETS 378,721,310 6,932,924 33,140,819 418,795,053 68,877,278
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pensions 697,861 44,321 186,553 928,735 591,489
Deferred amount on refunding 708,072 ‐ ‐ 708,072 ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES 1,405,933 44,321 186,553 1,636,807 591,489
LIABILITIES
Current liabilities:
Accounts payable 2,205,241 2,154,008 199,686 4,558,935 669,002
Claims incurred but not reported ‐ ‐ ‐ ‐ 2,190,622
Retainage payable 374,414 ‐ 2,513 376,927 2,729
Due to other funds ‐ ‐ 332 332 ‐
Interest payable 42,427 ‐ ‐ 42,427 ‐
Accrued wages and benefits payable 368,068 24,016 100,762 492,846 332,848
Taxes payable 138,483 126,654 7,060 272,197 120,337
Custodial accounts 35,570 ‐ 325,499 361,069 ‐
Unearned revenues 245,650 ‐ 188,936 434,586 ‐
Compensated absences payable 367,564 23,814 93,245 484,623 315,789
Leases payable ‐ ‐ ‐ ‐ 2,605
Public works trust fund loan payable 345,818 ‐ ‐ 345,818 ‐
Revenue bonds payable 2,285,000 ‐ ‐ 2,285,000 ‐
Total current liabilities 6,408,235 2,328,492 918,033 9,654,760 3,633,932
Noncurrent liabilities:
Compensated absences payable 161,301 19,636 35,690 216,627 119,814
Public works trust fund loan payable 1,206,630 ‐ ‐ 1,206,630 ‐
Revenue bonds payable 18,159,953 ‐ ‐ 18,159,953 ‐
Net pension liability 2,364,652 150,180 632,121 3,146,953 2,004,220
OPEB Liability ‐ ‐ ‐ ‐ 39,424,016
Total noncurrent liabilities 21,892,536 169,816 667,811 22,730,163 41,548,050
TOTAL LIABILITIES 28,300,771 2,498,308 1,585,844 32,384,923 45,181,982
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions 1,397,029 88,726 373,455 1,859,210 1,184,087
TOTAL DEFERRED INFLOWS OF RESOURCES 1,397,029 88,726 373,455 1,859,210 1,184,087
NET POSITION
Net investment in capital assets 267,143,458 ‐ 25,933,210 293,076,668 14,169,689
Restricted for debt service 2,810,145 ‐ ‐ 2,810,145 ‐
Unrestricted 80,475,840 4,390,211 5,434,863 90,300,914 8,933,009
TOTAL NET POSITION $ 350,429,443 $ 4,390,211 $ 31,368,073 $ 386,187,727 $ 23,102,698
Business‐type Activities
City of Renton
Statement of Net Position
Proprietary Funds
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-7The notes to the financial statements are an integral part of this statement
Governmental
Activities
Waterworks
Utility Solid Waste
Total Nonmajor
Funds
Total Enterprise
Funds
Internal Service
Funds
OPERATING REVENUES
Charges for services $ 56,262,529 $ 21,808,220 $ 2,212,076 $ 80,282,825 $ 34,843,682
Interfund revenues 118,216 9,306 ‐ 127,522 ‐
Miscellaneous revenue 165,754 ‐ 3,363,018 3,528,772 316,798
TOTAL OPERATING REVENUES 56,546,499 21,817,526 5,575,094 83,939,119 35,160,480
OPERATING EXPENSES
Supplies 1,245,709 17,040 376,416 1,639,165 2,696,442
Personnel services 11,207,749 810,453 2,848,103 14,866,305 7,730,994
Contracted services 25,710,748 17,321,038 1,141,441 44,173,227 5,706,055
Insurance ‐ ‐ ‐ ‐ 8,713,319
Taxes 4,748,866 2,396,466 16,837 7,162,169 12,486
Depreciation and amortization 9,286,490 ‐ 1,329,500 10,615,990 2,869,275
TOTAL OPERATING EXPENSES 52,199,562 20,544,997 5,712,297 78,456,856 27,728,571
OPERATING INCOME (LOSS) 4,346,937 1,272,529 (137,203) 5,482,263 7,431,909
NONOPERATING REVENUES (EXPENSES)
Intergovernmental revenues 718,782 237,919 143,030 1,099,731 35,898
Interest revenue 1,238,514 36,699 90,198 1,365,411 745,672
Gain (loss) on capital assets (993,318) ‐ ‐ (993,318) 43,698
Other non‐operating revenue (expenses) 229,801 ‐ 14,164 243,965 62,084
Interest expense (1,071,111) ‐ ‐ (1,071,111) (636)
Insurance Recoveries ‐ ‐ ‐ ‐ 133,004
TOTAL NONOPERATING REVENUES (EXPENSES) 122,668 274,618 247,392 644,678 1,019,720
INCOME (LOSS) BEFORE CONTRIBUTIONS, TRANSFERS,
AND SPECIAL ITEMS 4,469,605 1,547,147 110,189 6,126,941 8,451,629
Capital contributions 7,341,238 ‐ ‐ 7,341,238 ‐
Transfer in 6,378 ‐ 47,500 53,878 2,240,387
Transfer out (113,218) ‐ (9,443) (122,661) (912,714)
CHANGE IN NET POSITION 11,704,003 1,547,147 148,246 13,399,396 9,779,302
NET POSITION ‐ JANUARY 1 338,725,440 2,843,064 31,219,827 372,788,331 13,323,396
NET POSITION ‐ DECEMBER 31 $ 350,429,443 $ 4,390,211 $ 31,368,073 $ 386,187,727 $ 23,102,698
Business‐type Activities
City of Renton
Statement of Revenues, Expenses, and Changes in Net Position
Proprietary Funds
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-8The notes to the financial statements are an integral part of this statement
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services $ 56,391,906 $ 20,314,338 $ 5,575,792 $ 82,282,036 $ 35,178,610
Cash paid to suppliers for goods & services (30,735,462) (18,560,946) (1,551,643) (50,848,051) (20,170,139)
Cash paid to employees (11,932,853) (839,150) (2,818,433) (15,590,436) (8,154,669)
Other non‐operating receipts 229,801 ‐ 14,164 243,965 195,088
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 13,953,392 914,242 1,219,880 16,087,514 7,048,890
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 6,378 ‐ 47,500 53,878 2,240,387
Transfers to other funds (113,218) ‐ (9,443) (122,661) (912,714)
Operating grants 713,074 167,153 198,148 1,078,375 35,898
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 606,234 167,153 236,205 1,009,592 1,363,571
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment ‐ ‐ ‐ ‐ 57,551
System development charges 1,102,877 ‐ ‐ 1,102,877 ‐
Acquisition & construction of capital assets (10,473,695) ‐ (204,633) (10,678,328) (4,903,382)
Special assessments 154,690 ‐ ‐ 154,690 ‐
Capital grants 750,999 ‐ ‐ 750,999 ‐
Principal payments on debt (2,641,437) ‐ ‐ (2,641,437) (33,244)
Interest payments on debt (984,492) ‐ ‐ (984,492) (636)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (12,091,058) ‐ (204,633) (12,295,691) (4,879,711)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal proceeds from interfund loans ‐ ‐ ‐ ‐ 175,000
Payments for investments (7,901,922) (539,532) (825,442) (9,266,896) (5,460,642)
Interest on investments and loans 1,134,849 36,428 79,958 1,251,235 692,851
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES (6,767,073) (503,104) (745,484) (8,015,661) (4,592,791)
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS (4,298,505) 578,291 505,968 (3,214,246) (1,060,041)
CASH & CASH EQUIVALENTS, JANUARY 1 63,502,850 2,411,242 4,611,745 70,525,837 41,167,859
RESTRICTED CASH & CASH EQUIVALENTS, JANUARY 1 2,810,145 ‐ ‐ 2,810,145 ‐
TOTAL CASH, RESTRICTED CASH, & CASH
EQUIVALENTS, DECEMBER 31 $ 62,014,490 $ 2,989,533 $ 5,117,713 $ 70,121,736 $ 40,107,818
City of Renton
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
Statement of Cash Flows
Proprietary Funds
Page 1 of 2
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-9The notes to the financial statements are an integral part of this statement
GOVERNMENTAL
ACTIVITIES
OTHER TOTAL INTERNAL
WATERWORKS SOLID ENTERPRISE ENTERPRISE SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss)$ 4,346,937 $ 1,272,529 $ (137,203) $ 5,482,263 $7,431,909
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 9,286,490 ‐ 1,329,500 10,615,990 2,869,275
Other non‐operating revenue 229,801 ‐ 14,164 243,965 195,088
(Increase) decrease in
accounts receivable (125,699) (1,503,188) (31,733) (1,660,620) 18,130
Increase (decrease) in due from
other funds (332) ‐ 13,033 12,701 ‐
(Increase) decrease in inventory
& prepaid items 21,831 ‐ (33,306) (11,475) (8,555)
(Increase) decrease in deferred outflows
related to pensions (43,448) (4,786) (47,964) (96,198) (69,276)
Increase (decrease) in operating
accounts payable 890,339 1,170,171 16,408 2,076,918 89,398
Increase (decrease) in accrued taxes
& other short‐term liabilities 58,023 3,427 (51) 61,399 481,979
Increase (decrease) in
customer deposits (6,300) ‐ 15,096 8,796 ‐
Increase (decrease) in
unearned revenues (22,594) ‐ 4,302 (18,292) ‐
Increase (decrease) in
OPEB liability ‐ ‐ ‐ ‐ (3,604,659)
Increase (decrease) in accrued
employee wages and benefits (1,430) 5,532 12,744 16,846 1,881
Increase (decrease) in net pension liability
and deferred inflows related to pensions (680,226) (29,443) 64,890 (644,779) (356,280)
Total adjustments 9,606,455 (358,287) 1,357,083 10,605,251 (383,019)
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 13,953,392 $ 914,242 $ 1,219,880 $ 16,087,514 $ 7,048,890
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Loss on abandonment of capital assets $ 993,318 $‐ $‐ $‐ $‐
Contributions of capital assets $ 5,579,536 $‐ $‐ $‐ $‐
Depreciation & amortization $ 9,286,490 $‐ $ 1,329,500 $‐ $ 2,869,275
Increase (decrease) in fair value of investments $ 8,910 $18 $199 $‐ $9,183
City of Renton
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
Statement of Cash Flows
Proprietary Funds
Page 2 of 2
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-10The notes to the financial statements are an integral part of this statement
Pension (and Other
Employee Benefit)
Trust Funds Custodial Funds
ASSETS
Cash & cash equivalents $ 4,754,615 $ 1,573,866
Investments at fair value:
CDs 746,099 163,690
Federal Home Loan Mortgate Corporation 179,700 25,366
Federal Farm Credit Bank 231,031 49,113
Federal Home Loan Bank 354,192 75,288
Federal National Mortgage Association 484,861 38,211
US Treasury Strip 1,235,952 188,031
Receivables (net of allowances):
Interest & penalties 1,958,562 7,437
TOTAL ASSETS 9,945,012 2,121,001
LIABILITIES
TOTAL LIABILITIES ‐ ‐
NET POSITION
Restricted for:
Pensions 9,945,012 ‐
Other Governments ‐ 2,121,001
TOTAL NET POSITION $ 9,945,012 $ 2,121,001
City of Renton
Statement of Fiduciary Net Position
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-11The notes to the financial statements are an integral part of this statement
Pension (and Other
Employee Benefit)
Trust Funds Custodial Funds
ADDITIONS
Contributions:
Fire insurance premiums transferred in $ 155,413 $ ‐
Impact fees collected ‐ 769,766
Total contributions 155,413 769,766
Investment earnings:
Interest revenue 293,588 24,773
Total investment earnings 293,588 24,773
TOTAL ADDITIONS 449,001 794,539
DEDUCTIONS
Administrative and general 12,150 ‐
Benefits paid 194,353 ‐
Payment to City for debt service ‐ 128,576
TOTAL DEDUCTIONS 206,503 128,576
NET INCREASE (DECREASE) IN FIDUCIARY NET POSITION 242,498 665,963
NET POSITION ‐ JANUARY 1 9,702,514 1,455,038
NET POSITION ‐ DECEMBER 31 $ 9,945,012 $ 2,121,001
City of Renton
Statement of Changes in Fiduciary Net Position
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-12The notes to the financial statements are an integral part of this statement
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Renton’s financial statements have been prepared in conformity with generally
accepted accounting principles (GAAP) in the United States, as applied to governments. The
Governmental Accounting Standards Board (GASB) is the standard setting body for governmental
accounting and financial reporting.
For the reporting year ended December 31, 2019 the City has implemented the following GASB
Statements:
Statement No. 83, Certain Asset Retirement Obligations ‐ this Statement addresses accounting
and financial reporting for certain asset retirement obligations (AROs), which is a legally
enforceable liability associated with the retirement of tangible capital assets. The Statement
establishes criteria for determining the timing and pattern of recognition of a liability and a
corresponding deferred outflow of resources for AROs. The City does not currently have any legal
obligations to perform future asset retirement activities related to its tangible capital assets, but
will follow the guidance in this Statement should it become applicable.
Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct
Placements – the objective of this Statement is to improve the information that is disclosed in
notes to government financial statements related to debt, including direct borrowings and direct
placements. This Statement requires that additional essential information related to debt be
disclosed in notes to financial statements, including unused lines of credit; assets pledged as
collateral for the debt; and terms specified in debts agreements related to significant events of
default with finance‐related consequences, significant termination events with finance‐related
consequences, and significant acceleration clauses. Implementation of this Statement changed
the presentation of long‐term obligations in notes to financial statements, separating direct
borrowings and direct placements from other debt.
Statement No. 90, Major Equity Interests – the objectives of this Statement are to improve the
consistency and comparability of reporting a government’s majority equity interest in a legally
separate organization and to improve the relevance of financial statement information for
certain component units. This Statement establishes that ownership of a majority equity interest
in a legally separate organization results in the government being financially accountable for the
legally separate organization and, therefore, the government should report that organization as
a component unit. The City currently does not have majority equity interest in a legally separate
organization, but will follow the guidance in this Statement should it become applicable.
A. REPORTING ENTITY
The City of Renton was incorporated on September 6, 1901, and operates under the laws of the
State of Washington applicable to a Non‐Charter code city with a Mayor/Council form of government.
A full‐time Mayor and seven part‐time Council members serve the City, all elected at large to four‐year
terms. The City provides the full range of municipal services authorized by state statutes, together with
a Municipal Airport, a Waterworks Utility, a Solid Waste Utility, and a Municipal Golf Course.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-13
The City of Renton has no component units (either blended or discretely presented) included in these
statements. The City of Renton’s Mayor appoints the Governing Board for the Renton Housing
Authority, which is not considered a component unit of the City. The City is under no obligation to
subsidize, nor does it exercise any other prerequisite for inclusion.
B. BASIS OF PRESENTATION
The City’s basic financial statements include both government‐wide statements and fund financial
statements. The government‐wide statements report financial information for the City as a whole, while
the fund statements present detailed financial information at the fund level. The City’s fiduciary funds
are presented in the fund financial statements. Since the assets are being held for the benefit of a third
party and cannot be used for obligations of the City, they are not included in the government‐wide
statements.
Government‐wide financial statements
In the government‐wide statement of net position governmental and business‐type activities are
reported. Governmental activities are mostly supported by taxes, intergovernmental revenue, and
other non‐exchange transactions. The governmental activities column includes the combined data
from all governmental funds and internal service funds. Business‐type activities mostly rely on fees
and charges for services to external customers and include data from the City’s enterprise funds.
The government‐wide statement of activities presents a comparison between direct expenses and
program revenues for each of the City’s governmental activities (general government, judicial, public
safety, utilities, transportation, economic environment, health and human services, and culture and
recreation) and for each identifiable business‐type activity (waterworks utility, airport, solid waste
utility, and golf course). Direct expenses are those that are specifically associated with a function and
therefore clearly identifiable to that particular function.
The statement of activities reports the expenses of a given function offset by a program revenue directly
associated with the functional program. Program revenues include: 1) charges for services which reports
fees and charges for users of the City’s service, 2) operating grants and contributions which support
annual operating activities, and 3) capital grants and contributions which finance the acquisition,
construction, or rehabilitation of capital assets. For determining the function, charges for services are
tied to the function that generates the revenue and grants and contributions are tied to the function in
which functional use they are restricted towards.
Taxes and other sources that are not directly related to a program are reported as general revenue.
The comparison of direct expenses with program revenues identifies the extent each governmental
function and business activity are self‐sustaining and requires a draw from the general revenues of the
City.
Generally, the effect of interfund activity has been eliminated from the government‐wide
financial statements, with the exception of various charges for services among different functions within
the government. Elimination of these charges would distort the direct costs and program revenues
reported for the various functions involved.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-14
Fund financial statements
The City’s activities are tracked in individual funds to segregate the transactions to aid in
financial management and, in some cases, demonstrate legal compliance. The fund financial statements
are intended to present the City’s financial activities at a more detailed level. Separate financial
statements are provided for each fund category ‐ governmental, proprietary, and fiduciary funds. Each
of the City’s major funds, within each fund category, are presented in a separate column. All non‐major
funds, within each fund category, are aggregated into one column; internal service funds are aggregated
into one column and reported on the face of the proprietary fund statements; and fiduciary funds are
reported by type.
The City reports the following major governmental funds:
General Fund is the primary operating fund of the City. It is used to account for the resources and
disbursements of ordinary City operations that are not required to be accounted for in another fund.
These include the costs of legislative and executive departments, court services, finance and legal
departments, development services and police departments, human resources and technical services,
community services, parks, economic development, streets, property management for City owned
leased facilities, farmers market, and museum. The major sources of revenue are property taxes, utility
taxes, and sales taxes. Licenses and permits, charges for services, and fines and forfeits provide
additional support. Community development block grant activities are also accounted for within this
fund, which is federally funded.
Municipal Facilities CIP Fund is used to fund facility construction improvement and renovation, property
acquisitions for parks and City space needs, parks development and equipment, and major capital
requirements as identified in the Capital Investment Program (CIP).
The City reports the following major enterprise funds:
Waterworks Utility Fund accounts for all operating and capital improvement programs for water,
wastewater, and storm water services within the City. The operating activities are primarily supported
by user fees and include: administration, billings and collections, debt service, engineering and
operation, maintenance and repairs. The primary resources for capital improvement programs are
revenue bond proceeds, grants (as available), and utility connection charges.
Solid Waste Fund accounts for solid waste, recycling, and yard waste collection services for the City and
is supported entirely by service fees. The expenses include payment to the City’s garbage contractor
and other service charges.
Additionally, the government reports the following fund types:
Internal Service Funds include 1) the equipment rental fund (equipment replacement, information
technology, facilities, and communications) and 2) the insurance fund (including risk management,
workers compensation, unemployment compensation, and employee health care program). The
equipment rental fund factors all costs, including depreciation, into the rates charged to each user
department. The insurance fund pays expense and rates are charged to departments based on use
and/or coverage requirements.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-15
Pension Trust Fund accounts for the payment of administrative costs and benefits for retired
firefighters and their beneficiaries, who were employed prior to March 1, 1970. Primary revenues
sources are the fire premium tax (contributed from the City) and investment income.
Custodial Fund accounts for fire impact fees collected on behalf of the Renton Regional Fire Authority.
Special Revenue Funds are used to account for specific revenues that are restricted by external
parties or committed through enabling legislation for particular purposes.
Debt Service Funds account for the accumulation of resources for and the payment of general obligation
and special assessment bonds.
During the course of operations the City has activity between funds for various purposes. Any
residual balances outstanding at year‐end are reported as due to/from other funds and advances
to/from other funds. While these balances are reported in the fund financial statements, certain
eliminations are made in the preparation of the government‐wide financial statements. Balances
between funds included in the governmental activities (generally between governmental and internal
service funds) are eliminated so that only the net amount is included as internal balances in the
governmental activities column. Similarly, balances between the funds included in the business‐type
activities are eliminated so that only the net amount is included as internal balances in the business‐
type activities column.
Further, certain activity occurs during the year involving transfers of resources between funds. In
fund financial statements these amounts are reported as gross amounts as transfers in/out. While
reported in fund financial statements, certain eliminations are made in the preparation of government‐
wide financial statements. Transfers between the funds included in governmental activities are
eliminated so that only the net amount is included as transfers in the governmental activities column.
Similarly, balances between the funds included in business‐type activities are eliminated so that only
the net amount is included in transfers in the business‐type activities column.
C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
Basis of Accounting refers to the point at which revenue or expenditure/expense transactions or events
are recognized in the accounts and reported in the financial statements. Measurement focus is
measured one of two ways: either the current financial resource or the economic resource method.
Government‐wide financial statements – the government‐wide financial statements are prepared
using the economic resources measurement focus and the accrual basis of accounting. Revenues are
recorded when earned and expenses are recorded when the liability is incurred, regardless of the timing
of related cash flows. Property taxes are recognized as revenue in the year they are levied and grants
are recognized as revenue as soon as all eligibility requirements have been met.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-16
Governmental fund financial statements – the governmental fund financial statements use a different
measurement focus from the proprietary fund statements and government‐wide statements. The
governmental fund financial statements use the current financial resources measurement and the
modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current
reporting period or soon enough thereafter to pay liabilities of the current period.
The City considers revenues available if they are collected within 60 days of the end of the current
fiscal period. Expenditures are generally recorded when a liability is incurred, the same as accrual
accounting. However, debt service expenditures, as well as expenditures related to compensated
absences, and claims and judgements are recorded only when payment is due. General capital asset
acquisitions are reported as current expenditures in governmental funds. Issuance of long‐term debt
and capital lease acquisitions are reported as other financing sources.
Property taxes, sales tax, franchise taxes, licenses, and interest associated with the current period are
all considered susceptible to accrual and have been recognized as revenue in the current fiscal period.
Expenditure‐driven grants are recognized as revenue when the qualifying expenditure amount is
received during the period or within the availability period for this revenue source. All other revenue
is considered measurable and available only when the cash is received by the City.
Since the measurement focus between the governmental fund financial statements and the
governmental activities in the government‐wide statements vary, a detailed reconciliation is included in
the fund statements to identify the relationship between the two statement types.
Proprietary fund financial statements – the proprietary fund statements and pension fund
statements are reported using the economic resources measurement focus and accrual basis of
accounting, the same as the government‐wide statements.
D. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND NET POSITION/FUND
BALANCE
1. Cash and Cash Equivalents
The City has defined cash and cash equivalents as cash on hand, demand deposits, and all highly
liquid investments (including restricted assets) with maturity of three months or less when
purchased. These amounts are classified on the balance sheet or in the statement of net
position as cash and cash equivalents or investments in the various funds. Included in this category
are all funds invested in the Local Government Investment Pool. Excluded from this category are
cash balances held by Fiscal Agents since the City does not have discretionary use of these funds.
Most of the City’s cash balances are pooled and invested. Interest earned from investments
purchased with pooled cash is allocated monthly to each fund based on the fund’s beginning equity
balance in the pooled fund.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-17
2. Investments
Investments are recorded at amortized cost or at fair value in accordance with GASB Statement No.
72, Fair Value Measurement and Application. Accordingly, the change in fair value of investments is
recognized as an increase or decrease to investment assets and investment income.
3. Receivables
Receivables have been reported net of estimated uncollectible accounts. Because property taxes,
special assessments, and utility billings are considered liens on property, no estimated uncollectible
amounts are established.
Taxes receivable consists of property taxes and related interest and penalties. Property taxes are
an enforceable lien on real property and are due the first day of the levy year and may be paid
in two equal installments. The first half is due April 1 and the balance is due October 31. The City
collects approximately 99% of the property tax due in the year it is levied and delinquent taxes are
collected within the following few years. Property tax due, but not collected within 60 days of year
end, is recorded as a receivable and offset by deferred inflow of resources – unavailable revenue.
There is no allowance for uncollectable property tax because historically all taxes are collected
and/or enforceable via lien (refer to Note 3 for more information).
Accrued interest receivable consists of amounts earned on investments, notes, and contracts.
Customer accounts receivable consists of amounts owed from private individuals or organizations
for goods and services. If the transactions are receivable from another governmental unit, it is
accounted for within “due from other governments.”
Special assessments are recorded when levied and are liens against the property benefited.
Special assessments receivable consist of current and delinquent assessments and related interest
and penalties. Special assessments not due within one year are reported as deferred inflows of
resources in the governmental fund statements and reported as non‐current assets in the
government‐wide statements and the proprietary fund statements.
4. Internal Balances, Interfund Loan Receivables/Payable and Due To/From Other Funds
Activities between funds that are representative of lending/borrowing arrangements outstanding
at the end of the fiscal year are referred to as interfund loans receivable/payable. All other
outstanding balances between funds are reported as due to/from other funds. These amounts are
eliminated within the governmental activities and business‐type activities in the government‐wide
statement, except for the residual balances outstanding between the governmental activities and
business‐type activities, which are reported as internal balances. Refer to Note 9 for a detailed
summary of interfund activity.
5. Inventories and Prepaid items
All City inventories are maintained on a consumption basis of accounting where items are purchased
for inventory and charged to the budgetary accounts as the items are consumed. Any material
inventories at year‐end are included in the balance sheet of the appropriate fund.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-18
All inventories are carried at cost on the first in, first out – FIFO basis, with the exception of the
Public Works Maintenance shops inventory. The value of this inventory is calculated using the
average cost method. The cost of inventories are recorded as an expenditure/expense when
consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are
reported as prepaid items in both the government‐wide and fund statements.
6. Capital Assets
General capital assets are those assets not specifically related to activities reported by the
proprietary funds. These assets generally result from expenditures in governmental funds or
contributions. The City reports these assets in the governmental activities column of the
government‐wide statement of net position but does not report these assets in the governmental
fund financial statements. Capital assets utilized by the propriety funds are reported both in the
business‐type activities of the government‐wide statement of net position and in the proprietary
fund statement of net position.
All capital assets are valued and capitalized at cost (or estimated historical cost when actual
historical cost is unknown) and updated for additions and retirements during the year. Donated
capital assets are recorded at their acquisition value as of the date received. The City maintains a
capitalization threshold of $5,000 and an estimated useful life in excess of two years. Improvements
to City assets and infrastructure are capitalized, but the cost of normal maintenance and repairs
that do not extend the useful life, or increase capacity or efficiency, are expensed.
All capital assets, other than land, right‐of‐ways, water rights, and construction in progress, are
depreciated using the straight line method over the following estimated useful lives:
Amortization on all intangible assets is provided on the straight‐line basis over the following useful
lives:
Estimated
Capital Asset Class Useful Life
Buildings and structures, excluding utilities 10‐50 years
Other improvements 10‐80 years
Utility plant 25‐75 years
Machinery and equipment 3‐40 years
Infrastructure 25‐75 years
Estimated
Intangible Asset Class Service Life
Computer software 3‐15 years
Patents, trademarks, copyrights 3‐50 years
Other 3‐12 years
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-19
7. Other non‐current Assets
A portion of special assessments receivable are collectible in greater than one year. This long‐term
portion of the receivable is reported as another non‐current asset.
Investment in joint ventures consists of the City’s equity balances and investment in debt of
Valley Communications Center and South Correctional Entity (see also Note 11).
8. Deferred outflows/inflows of resources
In addition to assets, the statement of financial position will report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflow of
resources, represents a consumption of net position that applies to a future period and will not be
recognized as an outflow (expense/expenditure) until that reporting period. The City has two items
that qualify for reporting in this category. Deferred amount on refunding is reported on the
government‐wide statement of net position and the proprietary fund statement of net position.
A deferred amount on refunding results from the difference in the carrying value of refunded debt
and its reacquisition price. This amount is deferred and amortized over the life of the refunded or
refunding debt, whichever is shorter. Deferred amounts related to pensions are differences between
actual and projected experience, investment earnings and actuarial assumptions, changes in
proportion, and the City’s contributions to pensions subsequent to the measurement date, which
was June 30, 2019, provided by the State of Washington. Refer to Note 5 for more information on
pensions.
In addition to liabilities, the statement of financial position will report a separate section for
deferred inflows of resources. This separate financial statement element represents an acquisition
of net position that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time (in prior years this inflow was recognized as “deferred revenue”
within the liabilities). The City has three items that it reports as a deferred inflow of resources.
Unavailable revenue arises only on the modified accrual basis, in the governmental fund balance
sheet. The amount reported in unavailable revenue is comprised of three sources: delinquent
municipal court receivables, delinquent photo enforcement receivables, and delinquent property
tax receivables. These amounts are deferred and recognized as revenue in the period the amounts
become available. On the government‐wide statements (accrual basis of accounting) the amounts
are considered available and recognized as inflow of resource in the current period. Deferred
amount of special assessments is the long‐term principal due to the City from special assessment
connections. This amount is only reported in the governmental fund balance sheet. Deferred
amounts related to pensions are the differences between actual and projected experience,
investment earnings and actuarial assumptions, and changes in proportion. Refer to Note 5 for more
information on pensions.
9. Unearned Revenues
This account includes amounts collected in advance for services not yet rendered. The amounts
are subject to return to the payor in the event the associated services are not performed.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-20
10. Custodial Accounts
This account reflects the liability for net monetary assets being held by the City in its agency capacity,
the majority of which is comprised of customer deposits.
11. Compensated Absences
The City’s policy permits employees to accumulate earned but unused vacation leave benefits,
which are eligible for payment upon separation from City service. For employees hired prior to
January 1, 1994, a fifty percent cash out of accumulated earned but unused sick leave is also eligible
for payment upon separation. The City accrues accumulated unpaid vacation and sick leave (when
eligible) when earned (or estimated to be earned) by the employee. The total compensated
absences liability is reported on the government‐wide statements and in each proprietary fund.
12. Fund Equity
Fund equity at the governmental fund level is classified as fund balance. Fund equity for all other
reporting is classified as net position.
Fund balance represents the difference between the current assets and deferred outflows of
resources and current liabilities and deferred inflows of resources in the governmental fund financial
statements. Fund balance classifications comprise of a hierarchy based primarily on the extent to which
the City is bound to honor constraints on the specific purpose for which amounts in those funds can be
spent. Fund balances are classified as follows:
a. Nonspendable – items that cannot be spent due to form; inventories, prepaid amounts, long‐term
loan receivables, or amounts that must be maintained intact legally.
b. Restricted – amounts constrained for specific purposes imposed through the judicial process
and enabling legislation adopted by the City; or through external restrictions imposed by
creditors, grantors, or laws or regulations of other governments.
c. Committed – amounts constrained by the City Council. Only the Council can, by ordinance,
establish, modify, or rescind constraints on committed fund balances.
d. Assigned – constraints imposed by the City Council for amounts intended for specific purposes, but
do not meet the criteria of restricted or committed. It is the City’s policy that intent of use can
be assigned by the City Council, or by a designated official, adopted through either the biennial
budget ordinance or an amending budget ordinance. For governmental funds, other than the
General Fund, the residual fund balance that is not restricted or committed is reported as assigned
because the use of fund balance, at a minimum, should be used for the purpose of that fund.
Additional action does not need to be taken to remove an assignment, whereas additional action is
essential to remove a commitment.
e. Unassigned – any remaining fund balance in the General Fund that does not meet any of the above
criteria. The General Fund is the only fund that reports a positive unassigned fund balance amount.
In other governmental funds, not the General Fund, may report a negative unassigned fund balance
if expenditures incurred for a specific purpose exceed the amounts of restricted, committed, or
assigned amounts to those purposes.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-21
The following shows the composition of the fund balance in governmental funds for the year
ended December 31, 2019:
General
Municipal
Facilities CIP
Other
Governmental Total
Restricted
Police Seizure Funds 711,102$ $ ‐ $ ‐ $ 711,102
Police CSAM Funds 126,011 ‐ ‐ 126,011
Shop with a Cop 3,094 ‐ ‐ 3,094
Judicial Capital Improvements 25,103 ‐ ‐ 25,103
Debt Service 250,000 ‐ 182,622 432,622
Summer Lunch Program 2,111 ‐ ‐ 2,111
Sr Center Advisory Committee 9,174 ‐ ‐ 9,174
CDBG Loans Outstanding 481,022 ‐ ‐ 481,022
Tourism Promotion ‐ ‐ 959,442 959,442
Renton Community Marketing Campaign ‐ ‐ 44,251 44,251
Cable Communications ‐ ‐ 624,621 624,621
Springbrook Wetlands Impact Mitigation ‐ ‐ 345,721 345,721
Park Capital Improvements ‐ 18,005,658 1,887,849 19,893,507
Transportation Capital Improvements ‐ ‐ 12,421,254 12,421,254
REET 1 Capital Projects ‐ ‐ 1,198,263 1,198,263
REET 2 Captial Projects ‐ ‐ 1,198,263 1,198,263
Community Garden Improvements ‐ 2,483 ‐ 2,483
Urban Forestry Program ‐ 106,044 ‐ 106,044
Sunset Area Improvements ‐ 600,000 ‐ 600,000
Total Restricted 1,607,617 18,714,185 18,862,286 39,184,088
Committed
Public Art ‐ ‐ 98,875 98,875
Facilities Capital Improvements ‐ 4,603,203 ‐ 4,603,203
Park Capital Improvements ‐ 4,120,657 ‐ 4,120,657
Transportation Capital Improvements ‐ ‐ 8,955,814 8,955,814
Family First Center ‐ 573,948 ‐ 573,948
Total Committed ‐ 9,297,808 9,054,689 18,352,497
Assigned
Farmer's Market 94,399 ‐ ‐ 94,399
Community Services 5,717,167 ‐ ‐ 5,717,167
Transportation ‐ ‐ ‐ ‐
Human Services 14,186 ‐ ‐ 14,186
Museum 46,096 ‐ ‐ 46,096
Leased City Properties 553,770 ‐ ‐ 553,770
Economic Development Projects ‐ 2,570,826 ‐ 2,570,826
Misc Capital Projects ‐ 16,603 ‐ 16,603
Family First Center ‐ 7,976,692 ‐ 7,976,692
Debt Service ‐ ‐ 3,819,177 3,819,177
Street Maintenance 1,377,184 ‐ ‐ 1,377,184
Transportation Capital Improvements ‐ ‐ 1,136,341 1,136,341
Total Assigned 7,802,802 10,564,121 4,955,518 23,322,441
Unassigned
Unassigned 45,627,589 ‐ ‐ 45,627,589
Total Unassigned 45,627,589 ‐ ‐ 45,627,589
Total fund balances 55,038,008$ 38,576,114$ 32,872,493$ 126,486,615$
December 31, 2019
Governmental Fund Balances
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-22
Fund balance flow assumptions ‐ when multiple categories of fund balance are available for
incurred expenditures, it is the City’s policy to consider restricted fund balance to have been
depleted before using any of the components of unrestricted fund balance (the total of committed,
assigned, and unassigned fund balance). Further, when the components of unrestricted fund
balance can be used for the same purpose, committed fund balance is depleted first, followed by
assigned fund balance. Unassigned fund balance is applied last.
Net position reflects the difference between assets and liabilities, in the government‐wide and
proprietary fund statement of net position. The component net investment in capital assets consists
of capital assets, net of accumulated depreciation, reduced by any outstanding balances of any
borrowing (ex. bonds or loans and related deferred amounts on refunding) for the acquisition,
construction, or improvement of those assets. The net position is reported as restricted when
there are limitations imposed on their use either through enabling legislation adopted by the
City or through external restrictions imposed by creditors, grantors, or laws or regulations of
other governments. The balance of the net position is reported as unrestricted.
The following shows the composition of the restricted net position balances reported in the
government‐wide and proprietary fund statements for the year ended December 31, 2019:
Governmental
Activities
Business‐Type
Activities
Restricted Net Position
Pensions $ 22,560,995 ‐$
Police Seizure Funds 711,102 ‐
Police CSAM Funds 126,011 ‐
Shop with a Cop 3,094 ‐
Judicial Capital Improvements 25,103 ‐
Summer Lunch Program 2,111 ‐
Sr Center Advisory Committee 9,174 ‐
CDBG Loans Outstanding 481,022 ‐
Tourism Promotion 959,442 ‐
Renton Community Marketing Campaign 44,251 ‐
Cable Communications 624,621 ‐
Springbrook Wetlands Impact Mitigation 345,721 ‐
Park Capital Improvements 19,893,507
Transportation Capital Improvements 12,421,254 ‐
REET 1 Capital Projects 1,198,263 ‐
REET 2 Captial Projects 1,198,263 ‐
Community Garden Improvements 2,483 ‐
Urban Forestry Program 106,044 ‐
Sunset Area Improvements 600,000 ‐
Debt Service 432,622 2,810,145
Total Restricted Net Position $ 61,745,083 $ 2,810,145
December 31, 2019
Restricted Net Position
Deficit in fund net position – At December 31, 2019 the Insurance Fund reported a deficit in net
position of ($1,550,531). The deficit is a result of GASB Statement No. 75, which requires the City to
recognize a total OPEB liability.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-23
Net position flow assumptions – In order to calculate the amounts to be reported as restricted
net position and unrestricted net position on the government‐wide and proprietary fund
statements, a flow assumption is made. It is the City’s policy to consider restricted net position to
have been depleted before unrestricted net position.
Minimum fund balance policy – The City Council has adopted a financial policy to maintain a
minimum level of unrestricted fund balance in the general fund. The target level is set at 12
percent, with a minimum of 8 percent, of general fund operating expenditures. This amount is
intended to provide fiscal stability when economic downturns and other unexpected events occur.
Stabilization fund policy – The City has adopted a comprehensive stabilization policy that helps
provide stability through uncertain times. This allows for temporary cushion and flexibility when
needed. The City Council, through ordinance, has established the following stabilization reserves:
1. Economic development revolving fund reserve: the City has accumulated reserves of $2.5
million for economic development projects. Expenditure utilizing this reserve will require a two‐
thirds majority vote of the City Council.
2. Catastrophic reserve: the City will maintain a targeted amount of 8 percent for risk management
reserves, for catastrophic emergencies. Expenditure utilizing this reserve will require a two‐
thirds majority vote of the City Council.
3. Anti‐recessionary reserve: the City will maintain a targeted reserve equal to 4 percent of the
general fund operating expense. Expenditures utilizing this reserve will require a two‐thirds
majority vote of the City Council and must be replenished within three years.
4. Annexation sales tax credit expiration/transition reserve: to help support debt service
obligations between the time the annexation sales tax credit expires (mid‐2019) and when the
downtown parking garage and library bond are paid (2022). Expenditures utilizing this reserve
will require a two‐thirds majority vote of the City Council.
5. General obligation bond payment reserve: for all councilmatic, general obligation bonds issued
after 2013, a one year payment reserve shall be established.
E. REVENUES, EXPENDITURES, AND EXPENSES
1. Operating Revenues and Expenses
Proprietary funds distinguish operating revenues and expenses from non‐operating revenues
and expenses. Operating revenue and expense generally result from providing services and
producing and delivering goods in connection with a proprietary fund’s principal ongoing
operations. The principal operating revenue of the waterworks utility, solid waste, airport, golf
course, and internal service funds are charges to customers for sales and services. The waterworks
utility also recognizes water meter installation fees, and wastewater and surface water
construction permit fees as operating revenue because these charges are intended to offset the
cost of connecting new customers to the system. Operating expense for proprietary funds and
internal service funds include the cost of sales and services, administrative expenses, and
depreciation of capital assets. All revenues and expenses not meeting this definition are reported
as non‐operating revenue and expense.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-24
2. Program Revenue
Amounts reported as program revenue, on the government‐wide statement of activities,
include: 1) charges for customers or applicants who purchase, use, or directly benefit from goods,
services, or privileges provided by a given function and 2) grants and contributions that are
restricted to meeting the operation or capital requirements of a given function. All taxes, included
those dedicated to specific purposes, are reported as general revenue rather than program revenue.
3. Capital Contributions
Capital contributions reported in the proprietary fund statements and the government‐wide
statements reflect the value of outside contributions of capital assets (i.e. developers, land
donations), capital grants, special assessments, and system development charges.
4. Interfund Activity
Exchange transactions between funds are reported as revenue in the selling fund and as an
expenditure/expense in the purchasing funds. On the government‐wide statement of activities, the
exchange transactions between the internal service funds and the user funds are eliminated.
Flows of cash or goods from one fund to another without a requirement of repayment are reported
as interfund transfers in/out. Interfund transfers in/out are reported as other financing sources/uses
in the governmental funds and following non‐operating revenues and expenses in the proprietary
funds. In the government‐wide statement of activities, transfers between governmental and
business‐type activities are reported as general revenue. Transfers between funds in governmental
activities are eliminated and transfers between funds in business‐type activities are eliminated.
5. Expenditures/Expenses
Expenses in the Government‐wide Statement of Activities are reported by function as a
governmental activity (general government, judicial, public safety, utilities, transportation,
economic environment, health and human services, culture and recreation), interest on long‐term
debt, or business‐type activity (waterworks utility, airport, solid waste utility, or golf course). In the
fund financial statements, expenditures of governmental funds are classified by: function, debt
service principal and interest payments, or purchases of capital items. Proprietary expenditures are
classified as operating or non‐operating.
The City recovers certain administrative costs through indirect cost allocations to departments city‐
wide. These allocated costs are consolidated and reported by function in the government‐wide
statement of activities.
NOTE 2. DEPOSITS AND INVESTMENTS
A. Deposits
Custodial Credit Risk
Custodial Credit Risk is the risk that in the event of a failure of the counterparty to an investment
transaction the City would not be able to recover the value of the investment or collateral securities.
The City does not currently have a policy regarding deposits concerning custodial credit risk or foreign
currency risk.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-25
At December 31, 2019 the City had the following balances on deposit with financial institutions:
The City’s deposits and certificates of deposit are entirely covered by the Federal Depository Insurance
Corporation (FDIC) or held in a multiple financial institution collateral pool administrated by the State of
Washington Public Deposit Protection Commission (PDPC). The City’s deposits comply with the
guidelines within Chapter 35A.40.030 of the Revised Code of Washington (RCW).
B. Investments
Investments that are not Measured at Fair Value
At December 31, 2019 the City had the following investments at amortized cost:
The City is a participant in the Local Government Investment Pool authorized by Chapter 294, Laws of
1986, and is managed and operated by the Washington State Treasurer. The State Treasurer is
responsible for establishing the investment policy for the pool and reviews the policy annually and
proposed changes are reviewed by the LGIP advisory Committee.
Investments in the LGIP, a qualified external investment pool, are reported at amortized cost which
approximates fair value. The LGIP is an unrated external investment pool. The pool portfolio is invested
in a manner that meets the maturity, quality, diversification and liquidity requirements set forth by the
GASB Statement No. 79 for external investments pools that elect to measure, for financial reporting
purposes, investments at amortized cost. The LGIP does not have any legally binding guarantees of share
values. The LGIP does not impose liquidity fees or redemption gates on participant withdrawals. The
Office of the State Treasurer prepares a stand‐alone LGIP financial report. A copy of the report is
available from the Office of the State Treasurer, PO Box 40200, Olympia, Washington 98504‐0200, online
at http://www.tre.wa.gov.
Investments Measured at Fair Value
The City measures and records its investments within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. The guidelines recognize a three‐tiered fair value hierarchy, as follows:
Level 1: Quoted prices in active markets for identical assets or liabilities;
Level 2: These are quoted market prices for similar assets or liabilities, quoted prices for identical
or similar assets or liabilities in markets that are not active, or other than quoted prices that are not
observable.
Level 3: Unobservable inputs for an asset or liability.
Deposits Deposits at 12/31/2019
Bank Deposits 76,310,481$
Non‐negotiable Certificates of Deposit (CD's) 31,181,665
TOTAL DEPOSITS 107,492,147$
Security Type Amortized Cost
Local Government Investment Pool (LGIP)125,517,557$
TOTAL INVESTMENTS 125,517,557$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-26
At December 31, 2019 the City had the following recurring fair value measurements:
Valuation techniques to determine fair value should be consistent with one or more of three approaches:
the market approach, cost approach, and income approach. The City uses the market approach for the
valuation of Significant Other Observable Inputs Investments (Level 2). The market approach to
measuring fair value uses prices and other relevant information generated by market transactions
involving identical or similar assets, liabilities, or groups of assets and liabilities. Using quoted market
prices is a technique that is consistent with the market approach.
The City invests excess and inactive funds in accordance with the City’s Investment Policy (last updated
and approved on February 23, 2009), which complies with the guidelines within Chapter 35A.40.050 of
the Revised Code of Washington (RCW). This allows for investment of excess cash and inactive cash,
directs that the responsibility for determining available cash for investment is placed upon the
department administering the funds, and allows for pooling of the cash provided that the allocation of
income is proportionate to the investment of each fund. Currently, the City invests in obligations of the
U.S. Government, U.S. agency issues, and Certificates of Deposit with Washington State banks and
savings and loan institutions as allowed by RCW.
Credit risk. Credit Risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. The City invests in US Treasury securities which are considered free of credit risk, and in
securities backed by the full faith and credit of the U.S. Government as well as U.S. government
sponsored enterprises including Federal Home Loan Mortgage Corporation.
Interest Rate Risk. Interest rate risk is the risk that changes in interest rates over time, adversely affecting
the fair value of an investment. The City’s portfolio is managed within the parameters established by
the Investment Policy, which limits the weighted average maturity of the portfolio to five years.
Security Type Total
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
U.S. Agency Securities 36,958,306$ 36,958,306$
TOTAL INVESTMENTS 36,958,306$ 36,958,306$
Fair Value Measurements Using
Investment Type Cost Fair Value Moody's S&P
Local Government Investment Pool (LGIP)125,517,557$ 125,517,557$ unrated unrated
Federal Farm Credit Bank 9,684,286 9,655,447 Aaa AA+
Federal Home Loan Bank 14,839,881 14,802,731 Aaa AA+
Federal National Mortgage Association 7,510,797 7,510,210 Aaa AA+
Federal Home Loan Mortgage Corporation 5,006,019 4,989,918 Aaa AA+
TOTAL INVESTMENTS 162,558,539$ 162,475,864$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-27
The City’s Investment Policy directs that the standard of prudence for investment activities shall be the
Prudent Investor Standard that states: “Investments shall be made with judgment and care, under
circumstances then prevailing, which person of prudence, discretion, and intelligence would use in the
management of their own affairs, not for speculation, but for investment purposes, considering the
probable safety of their capital as well as the probable income to be derived.”
Concentration of Credit Risk. Concentration of credit risk is the risk of loss attributed to the magnitude
of a government’s investment in a single issuer. The City diversifies its investment instruments to avoid
incurring unreasonable risk inherent with the over‐investment of instruments and issuers using the
following target distribution as a guide during normal economic times while allowing flexibility when
appropriate. The City has agency bonds with Federal Farm Credit Bank equal to 6% and agency bonds
with Federal Home Loan Bank equal to 9%. The City’s remaining individual issuers are less than 5% of
total investments or are otherwise excluded from this disclosure due to the low risk nature of the
investment.
Target Maximum per Policy
Instrument
Maximum
Issuer
Maximum
U.S. Treasuries 100% 100%
U.S. Agencies 75% 50%
Certificates of Deposit (within WPDPC) 75% 20%
Local Governmental Investment Pool
(LGIP) 75% 75%
Commercial Paper 25% 5%
Investment Type Cost Fair Value
Average
Interest
Rate
Local Government Investment Pool (LGIP)125,517,557$ 125,517,557$ 1.075%
Federal Farm Credit Bank 9,684,286 9,655,447 1.600%
Federal Home Loan Bank 14,839,881 14,802,731 1.622%
Federal National Mortgage Association 7,510,797 7,510,210 1.689%
Federal Home Loan Mortgage Corporation 5,006,019 4,989,918 1.610%
TOTAL INVESTMENTS 162,558,539$ 162,475,864$
Investment Type
0‐6
months
6 months ‐
1 year
1‐3
years
3+
years Totals
Local Government Investment Pool (LGIP) 125,517,557$ ‐$ ‐$ ‐$ 125,517,557$
Federal Farm Credit Bank ‐ ‐ 4,810,980 4,844,466 9,655,447
Federal National Mortgage Association ‐ 7,510,210 ‐ ‐ 7,510,210
Federal Home Loan Mortgage Corporation ‐ ‐ ‐ 4,989,918 4,989,918
Federal Home Loan Bank 9,726,290 5,076,441 14,802,731
TOTAL INVESTMENTS 125,517,557$ 7,510,210$ 14,537,271$ 14,910,826$ 162,475,864$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-28
Custodial Credit Risk – Investments. Custodial credit risk for investments is the risk that, in the event of
the failure of the counter party to a transaction, a government will not be able to recover the value of
investment or collateral securities that are in the possession of an outside party. All security
transactions, including collateral for repurchase agreements, entered into by the City are conducted on
a delivery‐versus‐payment (DVP) basis and are held in our safekeeping trust account with Wells Fargo
under terms negotiated by the State of Washington.
NOTE 3. PROPERTY TAXES
The King County Finance Director acts as an agent to collect property taxes levied in the county for all
taxing authorities. Taxes are levied annually, January 1, on property value listed as of the prior August
31. Assessed values are established by the King County Assessor at 100 percent of fair market value. A
revaluation of all property is required every two years; however, King County has the ability to revalue
annually.
Property taxes levied by the King County Assessor and collected by the King County Finance Director
become a lien on the first day of the levy year and may be paid in two equal installments if the total
amount exceeds $30. The first half of real property taxes is due on April 30 and the balance is due
October 31. Delinquent taxes bear interest at the rate of 12 percent and are subject to additional
penalties if not paid as scheduled. No allowance for uncollectible taxes is established because delinquent
taxes are considered fully collectible.
At year‐end, property taxes are recorded as a receivable with the portion not expected to be collected
within 60 days offset by unavailable revenue. During the year, property tax revenues are recognized
when cash is received.
The tax rate for general City operations is limited to $3.825 per $1,000 of assessed value (RCW
84.52.043), less the actual amount levied by the King County Library System (maximum $0.50/$1,000)
and the actual amount levied by the Renton Regional Fire Authority (maximum $1.00/$1,000). Included
in this amount, up to $0.225 (22.5 cents) per $1,000 may be designated for contribution to the Firemen’s
Pension Fund. If a report by a qualified actuary on the condition of the Firemen’s Pension Fund
establishes that this amount (or portion of) is not necessary to maintain the actuarial soundness of the
fund, the amount can be used for any other municipal purpose (RCW 41.16.060). The maximum statutory
rate for 2019, after reductions noted above, was $2.61527.
The tax rate limit may be reduced for any of the following reasons:
1. The Levy Limit: the levy limit calculation applies to a taxing district’s budget, and not to increases in
the assessed value or tax bill of individual properties. Initiative 747 which restricted individual taxing
districts from collecting, in any year, more than a one percent increase in their regular, non‐voted,
levy over the highest levy amount since 1985 was overturned by the courts. However during 2007,
the state legislature reinstated this limit with the passage of HB2416. New construction,
annexations, and excess levies approved by the voters are not included in the levy limit calculation.
If the assessed valuation increases by more than one percent due to revaluation, the levy rate will
be decreased.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-29
2. The One Percent Constitution Limit: The Washington State Constitution limits the regular (non‐
voted) combined property tax rate applied to an individual’s property to one percent ($10 per
$1,000) on the market valuation. Voters may approve special levies that are added to this figure. If
the taxes of all districts exceed this amount, each is proportionately reduced until the total is at or
below the one percent limit.
3. The City may voluntarily levy taxes below the legal limit.
Special levies approved by the voters are not subject to the above limitations. There is currently no
excess levy for General Obligation Bond debt. The City’s regular levy per the King County Assessor’s 2019
Annual Report is $1.117.
NOTE 4. CAPITAL ASSETS AND DEPRECIATION
Depreciation and amortization was charged to the functions as follows:
Depreciation Amortization Total
General Government $ 1,108,333 $ ‐ 1,108,333$
Public Safety 393,727 7,643 401,370
Physical Environment 58,148 ‐ 58,148
Transportation 6,943,227 ‐ 6,943,227
Economic Development 482,572 ‐ 482,572
Culture and Recreation 1,536,956 ‐ 1,536,956
Health and Human Services 12,174 ‐ 12,174
Internal Service Funds (General Governmental) 2,674,424 194,851 2,869,275
$ 13,209,561 $ 202,494 $ 13,412,055
Depreciation Amortization Total
Waterworks $ 9,240,777 $ 45,713 9,286,490$
Airport 1,120,324 ‐ 1,120,324
Golf Course 209,176 ‐ 209,176
$ 10,570,277 $ 45,713 $ 10,615,990
Governmental Activities
Total‐Governmental Activities
Business‐Type Activities
Total‐Business‐Type Activities
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-30
Capital asset activity for the year ended December 31, 2019 was as follows:
Beginning Ending
Balance Increases Decreases Reallocation Balance
Governmental activities :
Capital assets, not being depreciated:
Land and land improvements $ 210,632,400 $ 1,787,104 $ (121,847) $ ‐ $ 212,297,657
Construction in progress 15,259,235 6,656,124 (110,342) (8,051,736) 13,753,281
Total capital assets, not being depreciated 225,891,635 8,443,228 (232,189) (8,051,736) 226,050,938
Capital assets, being depreciated:
Buildings and structures 79,217,257 653,437 ‐ 4,926,541 84,797,235
Other improvements 318,792,869 6,641,789 ‐ 2,802,582 328,237,240
Machinery and equipment 33,725,445 4,973,189 (372,717) 50,682 38,376,599
Total capital assets being depreciated 431,735,571 12,268,415 (372,717) 7,779,805 451,411,074
Less accumulated depreciation for:
Buildings and structures (39,743,977) (2,197,391) ‐ ‐ (41,941,368)
Other improvements (107,003,347) (8,249,678) ‐ ‐ (115,253,025)
Machinery and equipment (22,308,351) (2,762,492) 358,864 ‐ (24,711,979)
Total accumulated depreciation (169,055,675) (13,209,561) 358,864 ‐ (181,906,372)
Total capital assets, being depreciated, net 262,679,896 (941,146) (13,853) 7,779,805 269,504,702
Intangible Assets:
Intangible assets, being amortized 4,872,259 86,407 ‐ 271,931 5,230,597
Less accumulated amortization (4,503,184) (202,494) ‐ ‐ (4,705,678)
Total intangible asset, being amortized, net 369,075 (116,087) ‐ 271,931 524,919
Total Intangible assets 369,075 (116,087) ‐ 271,931 524,919
Governmental activities capital assets, net $ 488,940,606 $ 7,385,995 $ (246,042) $ ‐ $ 496,080,559
Business‐type activities:
Capital assets, not being depreciated:
Land and land improvements $ 6,150,056 $ ‐ $ ‐ $ ‐ $ 6,150,056
Construction in progress 10,732,669 8,826,127 (670,386) (2,888,528) 15,999,882
Total capital assets, not being depreciated 16,882,725 8,826,127 (670,386) (2,888,528) 22,149,938
Capital assets, being depreciated:
Buildings and structures 17,576,346 ‐ ‐ ‐ 17,576,346
Other improvements 433,965,352 7,623,618 (571,445) 2,888,528 443,906,053
Machinery and equipment 2,991,323 178,765 ‐ ‐ 3,170,088
Total capital assets being depreciated 454,533,021 7,802,383 (571,445) 2,888,528 464,652,487
Less accumulated depreciation for:
Buildings and structures (8,774,516) (424,536) ‐ ‐ (9,199,052)
Other improvements (152,169,208) (10,006,536) 248,511 ‐ (161,927,233)
Machinery and equipment (2,122,889) (139,205) ‐ ‐ (2,262,094)
Total accumulated depreciation (163,066,613) (10,570,277) 248,511 ‐ (173,388,379)
Total capital assets, being depreciated, net 291,466,408 (2,767,894) (322,934) 2,888,528 291,264,108
Intangible Assets:
Intangible assets, not being amortized 811,000 ‐ ‐ ‐ 811,000
Intangible assets, being amortized 527,222 ‐ ‐ ‐ 527,222
Less accumulated amortization (340,559) (45,713) ‐ ‐ (386,272)
Total intangible asset, being amortized, net 186,663 (45,713) ‐ ‐ 140,950
Total Intangible assets 997,663 (45,713) ‐ ‐ 951,950
Business‐type activities capital assets, net $ 309,346,796 $ 6,012,520 $ (993,320) $ ‐ $ 314,365,996
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-31
At the end of 2019, a total of 48 projects comprise the Construction in Progress. Upon completion, the
projects will be reallocated to their appropriate categories.
Construction commitments as of December 31, 2019, are as follows:
Governmental Activities Projects:
Construction
in progress
Remaining
Commitment
Boathouse Dock Replacement 64,252$ 8,935$
Bronson Bridge 8,765 ‐
City Hall Elevator Replacement 1,407,749 897,252
Downtown Streetscape 57,964 43,015
Duvall Ave 7th to Sunset 989,892 81,897
Family First Center 960,751 7,575
Fawcett ROFR 9,000 ‐
Highlands to Landing Pedestrian Lighting 15,901 83,670
Houser Way Intersection & Ped Improvement 185,375 ‐
Houser Way N. Bridge 8,765 ‐
Intersect Safety & Mobility 112,829 67,181
Kenyon Property Building 73,991 ‐
Kenyon Property Instahot Water Heater 10,556 ‐
Lake Washington Loop Trail 902,229 26,596
Liberty Park Improvement 18,631 ‐
Park Ave Extension 889,154 212,545
Pavillion Parking Pay Stations 27,188 ‐
Phillip Arnold Park Improvements 103,933 343,419
Police Training Simiulator 214,973 ‐
Police ViewSonic Viewboard 98 10,664 ‐
Rainier Ave S/N Phase 4 1,286,343 1,425,682
Regis Park Athletic Field Expansion 91,884 16,306
Renton Connector 1,206 ‐
Renton School Crossings 1,578 ‐
S. 2nd and S. Main Public Art (Loop Art)87,081 ‐
S. 2nd Street Conversion 1,206 ‐
Sign Shop Improvements 915,296 ‐
Sunset Blvd Corridor 54,234 152,347
Sunset EIS Park 3,829,013 3,772,539
Sunset Neighborhood Park Art 25,900 224,100
Williams Ave S & Wells Ave S Conversion 1,378,212 90,639
Williams Bridge 8,765 ‐
Total governmental activities 13,753,281$ 7,453,695$
Business‐Type Activities Projects:
Construction
in progress
Remaining
Commitment
Airport Office Rehab 434,024$ 6,810$
Downton Sewer Replacement/Rehab 640,307 360,733
Downtown Storm System Improvements 625,022 360,733
Downtown Water Main Replacement 316,450 108,731
Falcon Ridge LS Rehab 1,213,861 16,443
Highlands 435 ‐ Resevoirs Replacement 2,117,509 186,022
Highlands Water Main Impro 19,466 23,155
Kennydale 320‐Reservoir 5,529,477 ‐
Lake Youngs Court 285,769 45,008
Lift Station Rehabilitation 46,036 49,896
NE 16th/Jefferson Ave NE Stormwater 314,482 135,591
Renton Hill Main Replacement 3,626,518 ‐
SE 172nd St/125th Ave SE Storm Sys 207,086 92,138
Telecommunications Project 4,319 ‐
Thunder Hills Sanitary 534,852 148,409
Water Pump Stations Rehab 84,703 ‐
Total business‐type activities 15,999,882$ 1,533,669$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-32
NOTE 5. PENSION PLANS
For purposes of measuring the net pension liability/asset, deferred outflows of resources and deferred
inflows of resources related to pensions, and pension expense, information about the fiduciary net
position of the Plans and additions to/deductions from the Plan’s fiduciary net position have been
determined on the same basis as they are reported by the State of Washington Department of
Retirement Systems (DRS). For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms. Investments
are reported at fair value.
General Information about the Pension Plans
All of the City’s full‐time and qualifying part‐time employees are eligible to participate in one of the
following statewide retirement systems administered by the Washington State Department of
Retirement Systems:
Public Employees’ Retirement System (PERS) Plans 1, 2, and 3
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF) Plans 1 and 2
Public Safety Employees’ Retirement System (PSERS) Plan 2
The Department of Retirement Systems (DRS), a department within the primary government of the State
of Washington, issues a publicly available comprehensive annual financial report (CAFR) that includes
financial statements and required supplementary information for each plan. The DRS CAFR may be
obtained by contacting the Washington State Department of Retirement Systems, P.O. Box 48380,
Olympia, WA 98504‐8380; or online from the DRS website at www.drs.wa.gov.
The City is the administrator of the Firefighters’ Pension Plan for all firefighters employed prior to March
1, 1970. The Firefighters’ Pension Plan is included within the City of Renton’s statements as a pension
trust fund. There is no separate GAAP‐based audited report. A schedule of employer contributions,
prepared by Milliman, Inc. is included in the Required Supplemental Information section. Additional
information from the actuarial report prepared for the Firefighters’ Pension Plan, by Milliman, Inc., may
be obtained by contacting the City of Renton, Finance Division, 1055 South Grady Way, Renton, WA
98057.
A. State Sponsored Pension Plans
Public Employees’ Retirement System (PERS)
Plan description. PERS was established by the state legislature in 1947 under the Revised Code of
Washington (RCW) chapter 41.40. PERS is a multiple‐employer cost‐sharing retirement system.
Membership in the system includes: elected officials; state employees; employees of the Supreme,
Appeals, and Superior Courts (other than judges currently in a judicial retirement system); employees of
legislative committees; community and technical colleges, college and university employees not in
national higher education retirement programs; judges of district and municipal courts; and employees
of local governments.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-33
PERS consists of three plans. PERS participants, who joined the PERS system by September 30, 1977, are
Plan 1 members. Plan 1 is closed to new members. Those who joined on or after October 1, 1977; and
by either, February 28, 2002 for state and higher education employees, or August 31, 2002 for local
government employees, are Plan 2 members unless they exercise an option to transfer their membership
to Plan 3. PERS participants joining the system on or after March 1, 2002 for state and higher education
employees, or September 1, 2002 for local government employees, have the irrevocable option of
choosing membership in either PERS Plan 2 or PERS Plan 3. The option must be exercised within 90 days
of employment. An employee is reported in Plan 2 until a choice is made. Employees who fail to choose
within 90 days default to PERS Plan 3.
Benefits provided. PERS plans provide retirement, disability, and death benefits to eligible members.
PERS Plan 1 members are vested after the completion of five years of eligible service. Plan 1 members
are eligible for retirement after 30 years of service, or at the age of 60 with five years of service, or at
the age of 55 with 25 years of service. The monthly benefit is two percent of the average final
compensation (AFC) per year of service, capped at sixty percent. The AFC is the average of the member’s
24 highest consecutive service months. Plan 1 members who retire from inactive status prior to the age
of 65 may receive actuarially reduced benefits. Plan 1 members may elect to receive an optional cost of
living allowance (COLA) that provides an automatic annual adjustment based on the Consumer Price
Index. The adjustment is caped at three percent annually. To offset the cost of this annual adjustment
the benefit is reduced.
PERS Plan 2 members are vested after completion of five years of eligible service. Plan 2 members are
eligible for normal retirement at the age of 65 with five years of service. The monthly benefit is two
percent of the AFC per year of service. There is no cap on years of service credit and a COLA is granted
based on the Consumer Price Index, capped at three percent annually. The AFC is the average of the
member’s 60 highest paid consecutive months. Plan 2 members have the option to retire early with
reduced benefits.
PERS Plan 3 has a dual benefit structure. Employer contributions finance a defined benefit component,
and member contributions finance a defined contribution component. The defined benefit portion
provides members a monthly benefit that is one percent of the AFC per year of service. There is no cap
on years of service credit. Plan 3 provides the same COLA as Plan 2. The AFC is the average of the
member’s 60 highest paid consecutive months. Effective June 7, 2006, Plan 3 members are vested in the
defined benefit portion of their plan after ten years of service; or after five years of service, if twelve
months of that service are earned after age 44; or after five service credit years earned in PERS Plan 2
by June 1, 2003. Plan 3 members are immediately vested in the defined contribution portion of their
plan.
The Judicial Benefit Multiplier (JBM) Program began January 1, 2007. This program gave eligible justices
and judges an option to increase the benefit multiplier used in their retirement benefit calculation for
their judicial service period of employment. Beginning January, 2007, any justice or judge who was in a
judicial position at that time could choose to join JBM. Any justice or judge elected or appointed to office
on or after January 1, 2007, who elects to join DRS membership will also be mandated into JBM. If they
have already established membership in PERS or TRS Plan 1 they will rejoin that plan, but if they have
never had membership they will be enrolled as a member of both PERS Plan 2 and JBM.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-34
Contributions. PERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council
adopts Plan 1 employer contribution rates, Plan 2 employer and employee contribution rates, and Plan
3 employer contribution rates. The methods used to determine contribution requirements are
established under state statute.
The required contribution rates, expressed as a percentage of covered payroll, were as follows:
Required Contribution Rates Employer Employee
Plan 1Plan 2Plan 3Plan 1Plan 2Plan 3
PERS
Members not participating in JBM
State agencies, local governmental units 12.65% 12.65% 12.65% 6.00% 7.41% **
Administrative fee 0.18% 0.18% 0.18%
Total 12.83% 12.83% 12.83% *
Members participating in JBM
Local governmental units 12.65% 12.65% 12.65% 12.26% 18.53% 7.5%***
Administrative fee 0.18% 0.18% 0.18%
Total 12.83% 12.83% 12.83% *
*Plan 3 defined benefit portion only.
** Variable from 5% to 15% based on rate selected by the member.
*** Minimum rate.
Employer contributions were $1,925,257, $2,327,566, and $470,685 for Plans 1, 2, and 3, respectively.
Public Safety Employee’s Retirement System (PSERS)
Plan description. The PSERS system was created by the 2004 Legislature and became effective July 1,
2006 under RCW 41.37. PSERS is a multiple‐employer cost‐sharing retirement system comprised of a
single defined benefit plan, PSERS Plan2. PSERS membership includes full‐time employees meeting
specific eligibility criteria that are employed by Department of Corrections, Department of Natural
Resources, Gambling Commissions, Liquor Control Board, Parks and Recreation Commission,
Washington State Patrol, Washington state counties, corrections departments of Washington state cities
except for Seattle, Tacoma, and Spokane, or correctional entities formed by PSERS employers under the
Interlocal Cooperation Act.
Benefits provided. PSERS provides retirement, disability, and death benefits to eligible members.
PSERS members are vested after an employee completes five years of eligible service, PSERS members
may retire at the age of 65 with five years of service, or at the age of 60 with at least ten years of PSERS
service credit, or at age 53 with twenty years of service with a monthly benefit of two percent of the
average final compensation (AFC). A cost of living allowance (COLA) is granted based on the Consumer
Price Index, capped at three percent annually. The AFC is the average of the member’s 60 highest paid
consecutive months.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-35
PSERS members have the option to retire early with reduced benefits. PSERS members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these
options are available to their survivors, generally with reduced benefits.
Contributions. PSERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council
adopts Plan 2 employer and employee contribution rates. The employer and employee contribution
rates for Plan 2 are developed by the Office of the State Actuary to fully fund Plan 2. The methods used
to determine the contribution requirements are established under state statute.
The required contribution rates, expressed as a percentage of covered payroll, were as follows:
Required Contribution Rates Employer Employee
Plan 2Plan 2
PSERS
State agencies, local governmental units 12.20% 7.07%
Administrative fee 0.18%
Total 12.38%
Employer contributions to PSERS Plan 2 were $17,899.
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF)
Plan description. LEOFF was established by the state legislature in 1970 under the Revised Code of
Washington (RCW) chapter 41.26. LEOFF is a multiple‐employer cost‐sharing retirement system.
Membership in the system includes all full‐time, fully compensated, local law enforcement
commissioned officers, firefighters, and as of July 24, 2005, emergency medical technicians. LEOFF
membership is comprised primarily of non‐state employees, with Department of Fish and Wildlife
enforcement officers who were first included effective July 27, 2003, being an exception.
LEOFF consists of two separate defined benefit plans. LEOFF participants who joined the system by
September 30, 1977, are Plan 1 members. Plan 1 is closed to new members. Those who joined on or
after October 1, 1977, are Plan 2 members.
Effective July 1, 2003, the LEOFF Plan 2 Retirement Board was established by Initiative 790 to provide
governance of LEOFF Plan 2. The Board’s duties include adopting contribution rates and recommending
policy changes to the Legislature for the LEOFF Plan 2 retirement plan.
Benefits provided. LEOFF plans provide retirement, disability, and death benefits to eligible members.
LEOFF Plan 1 members are vested after the completion of five years of eligible service. Plan 1 members
are eligible for retirement with five years of service at the age of 50. The benefit per year of service
calculated as a percent of final average salary (FAS) is as follows:
Term of Service
Percent of Final
Average Salary
20 or more years 2.0%
10 but less than 20 years 1.5%
5 but less than 10 years 1.0%
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-36
A cost of living allowance (COLA) is granted based on the Consumer Price Index.
LEOFF Plan 2 members are vested after the completion of five years of eligible service. Plan 2 members
are eligible for retirement at the age of 53 with five years of service, or at age 50 with twenty years of
service. Plan 2 members receive a benefit of two percent of the FAS per year of service. FAS is based on
the highest consecutive 60 months. A COLA is granted based on the Consumer Price Index, capped at
three percent annually.
LEOFF members have the option to retire early with reduced benefits. LEOFF members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these
options are available to their survivors, generally with reduced benefits.
Contributions. LEOFF defined benefit retirement benefits are financed from a combination of investment
earnings, employer and employee contributions, and a special funding situation in which the state pays
through state legislative appropriations.
Employer and employee contribution rates are developed by the Office of the State Actuary to fully fund
the plans. Starting on July 1, 2000, Plan 1 employers and employees are not required to contribute as
long as the plan remains fully funded. Plan 2 employers and employees are required to pay at the level
adopted by the LEOFF Plan 2 Retirement Board. The methods used to determine contribution
requirements are established under state statute.
The required contribution rates, expressed as a percentage of covered payroll, were as follows:
Required Contribution Rates Employer Employee
Plan 1Plan 2Plan 1Plan 2
LEOFF
Local governmental units N/A 5.25% N/A 8.75%
Administrative fee 0.18% 0.18%
Total 0.18% 5.43%
N/A Indicates data not applicable.
Employer contributions to LEOFF Plan 2 were $821,626.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
As of June 30, 2019, the City reported its proportionate share of the net pension liability/(asset) as
follows:
Plan Liability Asset
PERS Plan 1 10,324,778$ ‐$
PERS Plan 2/3 3,327,947 ‐
PSERS Plan 2 ‐ (7,221)
LEOFF Plan 1 ‐ (4,658,160)
LEOFF Plan 2 ‐ (10,323,995)
Total 13,652,725$ (14,989,376)$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-37
The amount of the liability/(asset) reported above for LEOFF Plan 1 and LEOFF Plan 2 reflects a reduction
for the City’s collective liability to be paid by the State. The City recognized $538,055 as contribution
revenue for the State’s on behalf payment for 2019. The amount recognized by the City as its
proportionate share of the net pension liability/(asset), the portion of the City’s net pension
liability/(asset) to be paid by the State, and the total portion of the net pension liability/(asset) that was
associated with the City were as follows:
Liability/(Asset)
LEOFF Plan 2 ‐ employer's proportionate share (10,323,995)$
LEOFF Plan 2 ‐ State's proportionate share of the net
pension liability/(asset) associated with the employer (6,760,833)
TOTAL (17,084,828)$
The collective net pension liability was measured as of June 30, 2019, and the total pension liability used
to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2018, with
the results rolled forward to June 30, 2019 using standard update procedures. Employer contribution
transmittals received and processed by the DRS for the fiscal year ended June 30 are used as the basis
for determining each employer’s proportionate share of the collective pension amounts reported by the
DRS in the Schedules of Employer and Non‐employer Allocations for all plans except LEOFF Plan 1. LEOFF
Plan 1 allocation percentages are based on the total historical employer contributions to LEOFF Plan 1
from 1971 through 2000 and the retirement benefit payments in fiscal year 2019. Historical data was
obtained from a 2011 study by the office of the State Actuary (OSA). In the fiscal year 2019, the State of
Washington contributed 87.12 percent of LEOFF Plan 1 employer contributions and all other employers
contributed the remaining 12.88 percent of employer contributions. LEOFF Plan 1 is fully funded and no
further employer contributions have been required since June 2000. If the plan becomes underfunded,
funding of the remaining liability will require new legislation. The allocation method the plan chose
reflects the projected long‐term contribution effort based on historical data. At June 30, 2019, the City’s
proportionate share of the collective net pension assets/liabilities was as follows:
Proportionate Share Proportionate Share Change in
6/30/2018 6/30/2019 Proportion
PERS Plan 1 0.271486% 0.268500%‐0.002986%
PERS Plan 2/3 0.344584% 0.342614%‐0.001970%
PSERS Plan 2 0.057762% 0.055527%‐0.002235%
LEOFF Plan 1 0.233551% 0.235664% 0.002113%
LEOFF Plan 2 0.451824% 0.445635%‐0.006189%
Liability/(Asset)
LEOFF Plan 1 ‐ employer's proportionate share (4,658,160)$
LEOFF Plan 1 ‐ State's proportionate share of the net
pension liability/(asset) associated with the employer (31,507,679)
TOTAL (36,165,839)$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-38
For the year ended December 31, 2019 the City recognized pension expense as follows:
At December 31, 2019, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
For PERS Plan 1, $951,881, for PERS Plan 2/3, $1,551,534, for PSERS Plan 2, $18,371, and for LEOFF Plan
2 $422,239, reported as deferred outflows of resources related to contributions resulting from City
contributions subsequent to the measurement date will be recognized as a reduction of the net pension
liability in the year ended December 31, 2020.
Pension Expense
PERS Plan 1333,333$
PERS Plan 2/3 722,883$
PSERS Plan 211,307$
LEOFF Plan 1 (279,362)$
LEOFF Plan 2165,056$
Total 953,217$
Deferred Outflows of Resources PERS Plan 1PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2Total
Differences between expected and
actual experience ‐$ 953,465$ 6,098$ ‐$ 742,904$ 1,702,467$
Net difference between projected
and actual earnings on pension
plan investments ‐ ‐ ‐ ‐ ‐ ‐
Changes of assumptions ‐ 85,218 58 ‐ 17,008 102,284
Changes in proportion and
differences between City
contributions and proportionate
share of contributions ‐ 487,123 ‐ ‐ 234,925 722,048
City contributions subsequent to
the measurement date 951,881 1,551,534 18,371 ‐ 422,239 2,944,025
Total 951,881$ 3,077,340$ 24,527$ ‐$ 1,417,076$ 5,470,824$
Deferred Inflows of Resources PERS Plan 1PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2Total
Differences between expected and
actual experience ‐$ 715,490$ 638$ ‐$ 185,653$ 901,781$
Net difference between projected
and actual earnings on pension
plan investments 689,782 4,844,135 12,539 482,911 2,116,742 8,146,109
Changes of assumptions ‐ 1,396,296 3,881 ‐ 1,161,780 2,561,957
Changes in proportion and
differences between City
contributions and proportionate
share of contributions ‐ 420,282 ‐ ‐ 314,697 734,979
Total 689,782$ 7,376,203$ 17,058$ 482,911$ 3,778,872$ 12,344,826$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-39
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized as pension expense as follows:
Differences Between Projected and Actual Earnings on Plan Investments
Year PERS Plan 1PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2
2020 (152,273)$ (1,261,618)$ (3,523)$ (112,166)$ (554,439)$
2021 (360,691) (2,287,395) (5,495) (247,226) (998,607)
2022 (128,716) (903,808) (2,362) (89,711) (394,088)
2023 (48,102) (391,314) (1,159) (33,808) (169,608)
Total (689,782)$ (4,844,135)$ (12,539)$ (482,911)$ (2,116,742)$
The recognition period is a closed, five‐year period for all plans.
Changes of Assumptions
PERS Plan 1PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2
Recognition
Period (Years)1 1 7.1 12.1 1 10.4
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2020 ‐$ ‐$ (268,518)$ 22,808$ (377)$ 19$ ‐$ ‐$ (136,680)$ 3,839$
2021 ‐ ‐ (268,518) 12,535 (377) 19 ‐ ‐ (136,680) 1,980
2022 ‐ ‐ (268,518) 12,535 (377) 7 ‐ ‐ (136,680) 1,512
2023 ‐ ‐ (268,518) 12,535 (377) 2 ‐ ‐ (136,680) 1,512
2024 ‐ ‐ (268,518) 11,944 (377) 2 ‐ ‐ (136,680) 1,512
Thereafter ‐ ‐ (53,706) 12,861 (1,996) 9 ‐ ‐ (478,380) 6,653
Total ‐$ ‐$ (1,396,296)$ 85,218$ (3,881)$ 58$ ‐$ ‐$ (1,161,780)$ 17,008$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
Differences Between Expected and Actual Experience
PERS Plan 1PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2
Recognition
Period (Years)1 1 7.1 12.1 1 10.4
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2020 ‐$ ‐$ (166,341)$ 187,704$ (67)$ 1,865$ ‐$ ‐$ (24,428)$ 154,218$
2021 ‐ ‐ (130,750) 187,704 (67) 1,865 ‐ ‐ (24,428) 92,514
2022 ‐ ‐ (130,750) 187,704 (67) 278 ‐ ‐ (24,428) 70,843
2023 ‐ ‐ (130,750) 187,704 (67) 260 ‐ ‐ (24,428) 70,843
2024 ‐ ‐ (130,750) 113,221 (67) 260 ‐ ‐ (24,428) 70,843
Thereafter ‐ ‐ (26,149) 89,428 (303) 1,570 ‐ ‐ (63,513) 283,643
Total ‐$ ‐$ (715,490)$ 953,465$ (638)$ 6,098$ ‐$ ‐$ (185,653)$ 742,904$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-40
Changes in Proportion and Differences Between City Contributions and Proportionate Share of Contributions
Recognition
Period (Years)1
1 7.1 12.1 1 10.4
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2020 ‐$ ‐$ (81,167) 113,284$ ‐$ ‐$ ‐$ ‐$ (50,199)$ 30,125$
2021 ‐ ‐ (78,773) 113,284 ‐ ‐ ‐ ‐ (41,847) 30,125
2022 ‐ ‐ (78,773) 113,284 ‐ ‐ ‐ ‐ (39,759) 25,681
2023 ‐ ‐ (78,773) 113,284 ‐ ‐ ‐ ‐ (39,759) 25,681
2024 (78,773) 33,987 (39,759) 25,681
Thereafter ‐ ‐ (24,023) ‐ ‐ ‐ ‐ ‐ (103,374) 97,632
‐$ ‐$ (420,282)$ 487,123$ ‐$ ‐$ ‐$ ‐$ (314,697)$ 234,925$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
PERS Plan 1 PERS Plan 2/3 PSERS Plan 2LEOFF Plan 1LEOFF Plan 2
Actuarial assumptions. The total pension liability was determined using the following actuarial
assumptions.
Inflation 2.75%
Salary Increases 3.50%
Investment rate of return 7.40%
Mortality rates were based on the RP‐2000 Combined Healthy Table and Combined Disabled Table
published by the Society of Actuaries. The Office of the State Actuary applied offsets to the base table
and recognized future improvements in mortality by projecting the mortality rates using 100 percent
Scale BB. Mortality rates are applied on a generational basis meaning each member is assumed to
receive additional mortality improvements in each future year, throughout his or her lifetime.
The actuarial assumptions used in the June 30, 2018, valuation were based on the results of the 2007‐
2012 Experience Study Report. Additional assumptions for subsequent events and law changes are
current as of the 2018 actuarial valuation report.
The long‐term expected rate of return on pension plan investments was determined using a building‐
block method in which the Washington State Investment Board (WSIB) used a best estimate of expected
future rates of return (expected returns net of pension plan investment expense but including inflation)
to develop each major asset class. Those expected returns make up one component of WSIB’s Capital
Market Assumptions (CMAs). The CMAs contain the following three pieces of information for each class
of assets the WSIB currently invest in:
Expected annual return
Standard deviation of the annual return
Correlations between the annual returns of each asset class with every other asset class
The WSIB uses the CMAs and their target asset allocation to stimulate future investment returns over
various time horizons.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-41
The long‐term expected rate of return of 7.4 percent approximately equals the median of the simulated
investment returns over a fifty‐year time horizon, adjusted to remove or dampen any short‐term
changes to WSIB’s CMAs that aren’t expected over the entire fifty year measurement period.
Best estimates of arithmetic real rates of return for each major asset class included in the pension plan’s
target asset allocation as of June 30, 2019, are summarized in the following table:
Asset Class Target Allocation
Lont‐Term Expected
Real Rate of Return
Fixed Income 20.00% 2.20%
Tangible Assets 7.00% 5.10%
Real Estate 18.00%5.80%
Global Equity 32.00%6.30%
Private Equity 23.00%9.30%
The inflation component used to create the table above is 2.20 percent, and represents WSIB’s most
recent long‐term estimate of broad economic inflation.
Discount rate. The discount rate used to measure the total pension liability was 7.40 percent for all
plans. To determine the discount rate, an asset sufficiency test included an assumed 7.50 percent long‐
term discount rate to determine funding liabilities for calculating future contribution rate requirements.
(All plans use 7.50 percent except LEOFF Plan 2, which has assumed 7.40 percent.) Consistent with the
long‐term expected rate of return, a 7.40 percent future investment rate of return on invested assets
was assumed for the test.
Contributions from plan members and employers are assumed to continue to be made at contractually
required rates (including PERS Plan 2/3, PSERS Plan 2, and SERS Plan2/3 employers, whose rates include
a component for the PERS Plan1 liability). Based on those assumptions, the pension plan’s fiduciary net
position was projected to be available to make all projected future benefit payments of current plan
members. Therefore, the long‐term expected rate of return of 7.40 percent on pension plan investments
was applied to determine the total pension liability.
Sensitivity of the Net Pension Liability/(Asset) to Changes in the Discount Rate. The following presents
the City’s proportionate share of the net pension liability/(asset), calculated using the discount rate of
7.40 percent, as well as what the net pension liability/(asset) would be if it were calculated using a
discount rate that is one percentage point lower (6.40 percent) or one percentage point higher (8.40
percent) than the current rate.
1% Decrease
6.40%
Current
Discount Rate
7.40%
1% Increase
8.40%
PERS Plan 1 12,929,910$ 10,324,778$ 8,064,483$
PERS Plan 2/3 25,524,030$ 3,327,947$ (14,885,407)$
PSERS Plan 2 74,546$ (7,221)$ (71,455)$
LEOFF Plan 1 (3,810,623)$ (4,658,161)$ (5,389,928)$
LEOFF Plan 2 (1,919,666)$ (10,323,995)$ (17,183,850)$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-42
B. Firefighters’ Pension
Plan Description ‐ The Firefighters’ Plan (Plan) is a closed, single‐employer defined benefit pension plan
administered by the City of Renton through the firefighters’ pension board. The plan provides pensions
for firefighters that were employed prior to March 1, 1970, when the LEOFF retirement system was
established.
The firefighters’ pension board consists of five members: the Mayor who serves as chair of the board,
the chairperson of the Council Finance Committee, and three members elected by secret ballot of the
retired firefighters for two‐year terms.
Plan Membership – Membership is limited to active members of the Firefighters’ Pension Plan (FPP) as
of March 1, 1970. On that date, the Washington Law Enforcement Officers’ and Firefighters’ System
(LEOFF) was established. The plan is closed to new members. At December 31, 2019, FPF membership
consisted of the following:
Benefits Provided ‐ All benefit terms are in statutes RCW 41.16, 41.18, and 41.26. The Firefighters’
Pension Plan (FPP) provides retirement, disability, and death benefits. Each firefighter in service on
March 1, 1970 receives the greater of the benefit payable under the Washington Law Enforcement
Officers’ and Firefighters’ Retirement (LEOFF) System and the benefits available under the provisions of
prior law. Where benefits under the old law exceed those under the new law for any firefighter, the
excess benefits are paid from the FPF of the city employing the member on March 1, 1970.
All members are retired and drawing benefits. Benefit terms provide for cost‐of‐living adjustments to
each member’s retirement benefit. There are two types of increases: escalation by salary in proportion
to current salary of rank from which the firefighter retired or increase proportionate to the increase in
the Seattle‐area consumer price index, with the change computed annually. Regardless of the change in
the consumer price index, benefits are increased at least two percent each year. The former applies to
firefighters who retired from service after 1969, their survivors, and to firefighters who retired from duty
disability (but not their survivors) after 1961. The latter applies to all other types of monthly benefits.
Benefits and refunds of the Plan are recognized when due and payable in accordance with the terms of
the Plan. For 2019, $194,353 was paid for pension benefit payments.
Contributions. As long as the FPP provides for benefits to covered members, the City will be eligible to
receive a share of the State’s distribution of the fire insurance premium taxes. The amount the City
receives is 25% of all monies received by the State from taxes on fire insurance premiums. Contributions
can also come from taxes paid pursuant to the provisions of RCW 41.16.060. This statute requires that
each municipality levy up to $0.45 (only $0.225 of which can be in excess of the property tax limit
pursuant to RCW 84.52.043) per $1,000 of assessed valuation, based on reports by a qualified actuary,
to maintain the fund. 2019 employer contributions to the Firefighters’ Pension Plan were $155,413.
Inactive employees or beneficiaries currently receiving benefits 21
Inactive employees or beneficiaries receiving full retirement through LEOFF 5
Total 26
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-43
Investments
Investment Policy – The pension plan’s policy in regard to the allocation of invested assets is established
and may be amended by a majority vote of its members. It is the policy of the FPF board to pursue an
investment strategy that emphasizes prudent and professional standards. The primary investment
requirements, in order of priority, are: safety, compliance, liquidity, and return on investment. The Board
has designated daily operations, internal controls, and investment decisions to the City’s finance
director. No significant investment policy changes were made during the reporting year. Investments are
recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and
Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease
to investment assets and investment income.
Rate of Return – For the year ended December 31, 2019, the annual money‐weighted rate of return on
pension plan investments, net of pension plan investment expense, was 3.03%. The money‐weighted
rate of return expresses investment performance, net of investment expense, adjusted for the changing
amounts actually invested.
Concentrations – For the year ended December 31, 2019, 4.27% of the plan’s fiduciary net position was
invested in US Federal Agency Securities, 7.76% was invested in certificates of deposit, 5.04% was
invested in FNMA Zero Coupon bonds, and 12.85% was invested in US Treasury Strips.
Net Pension Liability/(Asset)
The City’s net pension liability was measured as of December 31, 2019, and the total pension liability
used to calculate the net pension liability/(asset) of $(7,571,619) was determined by an actuarial
valuation as of that date.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-44
The plan’s fiduciary net position of $9,945,012 is 419% of the plan’s total pension liability at December
31, 2019.
Actuarial assumptions. The total pension liability was determined by an actuarial valuation as of
December 31, 2019, using the following actuarial assumptions.
Inflation 2.25%
Salary increases 3.25%
Investment rate of return 2.75%
Actuarial cost method Entry age normal
Mortality rates were based on the RP‐2000 Mortality Table (combined healthy) with generational
projection using 100% of Projection Scale BB, with ages set back one year for males and forward one
year for females (set forward two years for disabled members).
The long‐term expected rate of return on pension plan investments was determined using a building‐
block method in which best estimate ranges of expected future real rates of return (expected returns,
net of pension plan investment expense and inflation) are developed. We used the weighted expected
returns of the City’s portfolio of cash, US Treasuries (to be held to maturity), and receivables to develop
the long‐term expected rate of return.
The best‐estimate range for the long‐term expected rate of return for each major asset class included in
the pension plan’s target asset allocation as of December 31, 2019, are summarized in the following
table:
Discount rate. The discount rate used to measure the total pension liability was 2.75 %. The projection
of cash flows used to determine the discount rate assumed City contributions were equal to revenue
received from Fire Insurance premiums and the amount received would increase at the inflation rate of
2.25%. Based on this assumption, the pension plan’s fiduciary net position was projected to be available
to make all projected future benefit payment of current plan members. Therefore, the long‐term
expected rate of return on pension plan investments was applied to all periods of projected benefit
payments to determine the total pension liability.
Sensitivity of the net pension liability to changes in the discount rate. The following presents the net
pension liability of the City, calculated using the discount rate of 2.75%, as well as what the City’s net
pension liability would be if it were calculated using a discount rate that is one percentage point lower
(1.75%), or one percentage point higher (3.75%), that the current rate.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-45
Pension Expense and Deferred Outflows or Resources and Deferred Inflows of Resources Related to
Pensions
As of December 31, 2019, the deferred inflows and outflows of resources are as follows:
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense as follows:
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
The Firefighters’ Pension Plan is currently overfunded. Changes in the net pension asset and deferred
outflows resulted in a reduction of City pension expense in the amount of $365,476.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-46
NOTE 6. OTHER POST EMPLOYMENT BENEFITS
General Information
The City implemented Governmental Accounting Standards Board (GASB) Statement 75, Accounting and
Financial Reporting for Postemployment Benefits Other Than Pensions for calendar year 2018 financial
reporting. Previously, the City accounted for its other postemployment benefit (OPEB) expenses related
to the Health Plan based on a computed annual required contribution (ARC) and an amount to amortize
unfunded actuarial accrued liabilities.
Plan Description
In accordance with the Revised Code of Washington (RCW) 41.26, the City administers a single‐employer
defined benefit healthcare plan (the Health Plan) for law enforcement officers and firefighters employed
prior to October 1, 1977. The City maintains a standalone internal service fund, LEOFF 1 Retirees
Healthcare Fund. No assets are accumulated in a trust that meets the criteria in paragraph 4 of Statement
75.
The Health Plan’s actuary is Milliman, Inc. The report may be obtained by contacting the City of Renton,
Finance Division, 1055 South Grady Way, Renton, WA 98057. The Health Plan does not issue a separate
standalone financial report.
Benefits Provided
The Health Plan provides medical, prescription drug, dental, Medicare Part B premiums, long‐term care,
and vision expenses for LEOFF Plan 1 retirees. Dependent spouses and children are not covered. There
are currently 83 retirees covered under the plan and the plan is closed to new entrants.
Funding Policy
Funding for LEOFF 1 retiree healthcare costs is provided entirely by the City as required by the Revised
Code of Washington (RCW) 41.26. The City does not require retiree contributions.
OPEB Liability
The OPEB liability was determined by an actuarial valuation as of the valuation date, calculated based
on the discount rate below, and was then projected forward to the measurement date. There have been
no significant changes between the valuation date and fiscal year ends. The City’s total OPEB Liability of
$39,424,016 was measured as of December 31, 2019.
Total OPEB Liability
12/31/2018 12/31/2019
Total OPEB Liability $ 43,028,675 $ 39,424,016
Covered employee
payroll $ ‐ $ ‐
Total OPEB liability as of a
% of covered employee
payroll
N/A N/A
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-47
Actuarial Methods and Assumptions
An actuarial valuation was completed as of January 1, 2019. Projections of benefits for financial reporting
purposes are based on the substantive plan (the plan as understood by the employer and plan members)
and include the types of benefits provided at the time of each valuation. The actuarial methods and
assumptions used include techniques that are designed to reduce the effects of short‐term volatility in
actuarial accrued liabilities and the actuarial value of assets, consistent with the long‐term perspective
of the calculations.
The Bond Buyer General Obligation 20‐bond municipal bond index for bonds that mature in 20 years is
2.74% as of December 26, 2019. Rounding to the nearest ¼% results in a discount of 2.75% as of the
December 31, 2019 measurement date. The Bond Buyer General Obligation 20‐bond municipal bond
index for bonds that mature in 20 years is 4.10% as of December 27, 2018. Rounding this to the nearest
¼% results in a discount rate of 4% as of the December 31, 2018 measurement date.
Mortality rates were based on the following assumptions:
Service‐retired members were based on the RP‐2000 Mortality Table (combined healthy) with
generational projection using 100% of Projection Scale BB, with ages set back one year for males
and set forward one year for females.
Disabled members were based on the RP‐2000 Mortality Table (combined healthy) with
generational projection using 100% of Projection Scale BB, with ages set forward two years.
Valuation Date January 1, 2019
Measurement Date December 31, 2019
Actuarial Cost Method Entry Age Normal
Amortization Method
Actuarial Assumptions:
Discount Rate 2.75%
Long Term Care Trend Rate 4.50%
Projected Salary Changes 3.25%
Inflation Rate 2.25%
Medical and Dental Trend (before
inclusion of excise tax)Year Pre‐65 Post‐65
2019‐2020 6.00% 5.40%
2020‐2021 N/A 5.10%
2021‐2022 N/A 4.90%
2022‐2023 N/A 4.80%
2023‐2024 N/A 4.70%
Grading down to an ultimate of 3.7%
Medical Trend
5 year amortiation for investment
gains and losses. Immediate
recognition for the experience gains
and losses and assumption/input
changes.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-48
Changes in the Total OPEB Liability
The following table presents the change in the total OPEB liability as of December 31, 2019.
Sensitivity of the total OPEB liability to Changes in the Discount Rate.
The following presents the total OPEB liability of the City as well as what the total OPEB liability would
be if it were calculated using trend rates that are 1% point lower or 1% point higher than the current
rate.
The following presents the total OPEB liability of the City, calculated using the current healthcare cost
trend rates as well as what the City’s total OPEB liability would be if it were calculated using trend rates
that are 1% point lower or 1% higher than the current trend rates.
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources related to
OPEB
For the year ended December 31, 2019 the City recognized OPEB Expense of $2,113,924. As of December
31, 2019 the City reported no deferred outflows or inflows of resources related to OPEB.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-49
NOTE 7. CONTINGENCIES
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not determinable
at this time, it is the opinion of City’s legal counsel, that the resolution of these matters will not have a
material adverse effect on the financial condition of the City and that the City’s insurance policies and/or
self‐insurance reserves are adequate to pay all known or pending claims.
The City participates in a number of federal and state assisted programs. These grants are subject to
program compliance audits by the Single Audit Act. Such audits could result in reimbursement to grantor
agencies for expenditures disallowed under the terms of the grants. The amount of expenditure that
may be disallowed, if any, cannot be determined at this time and the City’s management believes that
such disallowances, if any, will be immaterial.
NOTE 8. RISK MANAGEMENT
The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. The City of Renton protects
itself against unforeseen losses by utilizing a three‐pronged risk management approach. First, the City
self‐funds first level losses through its Insurance Fund. Second, insurance and excess insurance is
purchased to cover medium and large losses. Third, the City reserves the right to utilize the provisions
of Chapter 35A.31.060 RCW to fund catastrophic or uninsured losses. This State statute allows cities to
levy a non‐voted property tax increase to pay for uninsured claims. There were no settlements in excess
of the insurance coverage in any of the three prior fiscal years.
The risk management internal service fund is funded by charges to the City of Renton’s other funds and
is based primarily upon the contributing funds’ claims experience. Liabilities of the fund are reported
when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated.
Liabilities include an amount for claims that have been incurred but not reported (IBNRs). The result of
the process to estimate the claims liability is not an exact amount as it depends on many complex factors,
such as, inflation, changes in legal doctrines, and damage awards. Accordingly, claims are reevaluated
periodically to consider the effects of inflation, recent claim settlement trends (including frequency and
amount of pay‐outs), and other economic and social factors. The estimate of the claims liability also
includes amounts for incremental claim adjustment expenses related to specific claims and other claim
adjustment expense regardless of whether allocated to specific claims. Estimated recoveries, for
example from salvage or subrogation, are another component of the claims liability estimate.
The City's Risk Management Program is administered under the authority of the Human Resources and
Risk Management Administrator, with claims being processed by the carriers shown below.
An analysis of the insurance deductibles and self‐insured retention levels, limits of insurance, and
carriers for the major types of coverage are as follows:
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-50
Type of Coverage
Risk
Retention
Occurrence Aggregate Amount Carrier
Property –
Expires 07/01/2020
$50,000 $200,000,000 (per
occurrence subject to
annual aggregate &
sub‐limits)
Alliant Property
Insurance
Program (APIP)
Cyber Liability –
Expires 07/01/2020
Pollution Liability ‐
Expires 07/01/2020
$50,000
$100,000
$2,000,000
(subject to sub‐
limits)
$2,000,000
(subject to sub‐
limits)
APIP
APIP
Liability –
Expires 01/01/2020
Liability –
Expires 01/01/2020
Liability –
Expires 01/01/2020
$250,000
$5,000,000
$20,000,000
$1,000,000
(per occurrence)
$20,000,000
(per occurrence)
$25,000,000
(per occurrence)
Safety National
Markel
(Evanston)/Allied
World
Hallmark
Specialty
Unmanned Aircraft Liability
Expires 01/01/2020
$0 $1,000,000
(per occurrence)
National Union
Fire
Auto Liability‐
Expires 01/01/2020
$250,000 $5,000,000
(subject to sub‐
limits)
Safety National
Casualty Corp
Auto Physical Damage –
Expires 07/01/2020
$25,000 ACV or Replacement
Cost; per Occurrence
APIP
Equipment Breakdown –
Expires 07/01/2020
$10,000* $100,000,000 APIP
Employee Fidelity/Crime –
Expires 07/01/2020
$10,000 $2,500,000 National Union
Fire
Airport Liability –
Expires 01/01/2020
$0 $100,000,000 National Union
Fire
Underground Storage Tank –
Expires 01/01/2020
$2,500 $1,000,000 Great American
Excess Workers’ Comp –
Expires 01/01/2020
$500,000 Statutory Safety National
* There is a 24‐hour utility interruption clause, prior to the deductible becoming applicable.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-51
As of December 31, 2019, the City had accrued the following amounts for outstanding claims:
NOTE 9. INTERFUND TRANSACTIONS
A. INTERFUND TRANSFERS
The following is the composition of interfund transfers for the year ended December 31, 2019:
Internal Service
Fund
General
Municipal
Facilities CIP
Capital
Improvement Municipal Art General Debt
Waterworks
Utility Airport Equipment Rental Total
Transfer Out:
Governmental Funds:
General ‐ 3,395,124 4,683,966 83,000 5,253,827 ‐ ‐ 2,117,726 15,533,643
Arterial Street 267,036 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 267,036
Comm. Dev. Impact Mitigation ‐ 1,200,000 ‐ ‐ ‐ ‐ ‐ ‐ 1,200,000
Transportation Impact Mitigation ‐ ‐ 2,324,200 ‐ ‐ ‐ ‐ ‐ 2,324,200
Municipal Facilities CIP 233,717 ‐ 525,591 ‐ ‐ 6,378 ‐ ‐ 765,686
Capital Improvement ‐ ‐ ‐ 19,000 ‐ ‐ 47,500 ‐ 66,500
Enterprise Funds:
Waterworks Utility ‐ ‐ ‐ ‐ ‐ ‐ ‐ 113,218 113,218
Airport ‐ ‐ ‐ ‐ ‐ ‐ ‐ 6,000 6,000
Golf ‐ ‐ ‐ ‐ ‐ ‐ 3,443 3,443
Internal Service Fund:‐
Insurance 900,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 900,000
Equipment Rental 12,714 ‐ ‐ ‐ ‐ ‐ ‐ 12,714
Total 1,413,467 4,595,124 7,533,757 102,000 5,253,827 6,378 47,500 2,240,387 21,192,440
Governmental Funds
Transfer In:
Enterprise Funds
Coverage
Total Claims Payable
12/31/2019
Property & liability 185,210$
Workers' compensation 507,612
Employee health 1,497,800
TOTAL 2,190,622$
2019
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 41,916$ 417,735$ 1,367,200$ 1,826,850$
Current year and changes in estimates (1,042,478) (327,314) (6,907,144) (8,276,936)
Claims payments 1,185,772 417,192 7,037,744 8,640,708
IBNR claims at end of the year 185,210$ 507,612$ 1,497,800$ 2,190,622$
2018
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 250,407$ 657,108$ 1,196,100$ 2,103,615$
Current year and changes in estimates (1,527,098) (479,682) (9,467,321) (11,474,101)
Claims payments 1,318,606 240,309 9,638,421 11,197,336
IBNR claims at end of the year 41,916$ 417,735$ 1,367,200$ 1,826,850$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-52
During the year transfers were used to fund anticipated capital projects and equipment purchases.
All transfers either occur on a regular basis or are consistent with the purpose of the fund making the
transfer. Transfers that occur within the governmental funds are eliminated on the government‐wide
statement of activities.
The City made the following one‐time transfers during the year ending December 31, 2019:
1. $3.4 million transfer from the General Fund to the Municipal Facilities CIP Fund to fund the Family
First Community Center.
2. $1.2 million from the Community Development Impact Mitigation Fund to the Municipal Facilities
CIP fund to fund improvements to the Ron Regis Park and Sunset Park Development.
3. $83 thousand transfer from the General fund and $19 thousand from the Capital Improvement Fund
to the Municipal Art Fund to fund the Renton Loop Art Project.
4. $5.2 million transfer from the General Fund to the General Debt Fund to fund the annual debt
payments.
5. $1.5 million transfer from the General Fund to the Equipment Rental Fund to fund the purchase of
take home vehicles for Police.
6. $4.7 million transfer from the General Fund, $2.3 million from the Transportation Impact Mitigation
Fund and $525 thousand from the Municipal Facilities CIP fund to fund various transportation capital
projects such as Williams and Wells Conversion Project, Duvall Ave NE and Parks Ave Extension.
7. $267 thousand transfer from the Arterial Street fund to the General Fund to close this fund.
8. $233 thousand from the Municipal Facilities CIP fund to the General Fund for the tree maintenance
program.
9. $900 thousand transfer from the Insurance Fund to the General Fund to use the annexation sales tax
credit transition reserve set aside to support debt service obligations after the sales tax annexation
tax credit expired in 2018.
10. $47 thousand from the Capital Improvement Fund to the Airport Fund to fund the runway safety
project.
11. $6 thousand transfer from the Municipal Facilities Fund to the Waterworks Utility Fund for irrigation
design to the 16th St/Jefferson Ave planter strips.
12. Various transfers from the General Fund, enterprise funds, and the Insurance Fund to the Equipment
Rental Fund to fund previously unbudgeted equipment purchases.
B. INTERFUND RECEIVABLES AND PAYABLES
The composition of interfund receivables/ payables as of December 31, 2019 is as follows:
Due from/to:
Receivable Fund Payable Fund Amount
Waterworks Utility Airport Fund 332$
REET 1 Tax General 1,143,855
REET 2 Tax General 1,143,855
Total 2,288,043$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-53
The outstanding balance between the General Fund and the REET 1 & 2 Funds results from the time lag
between the date the REET transaction was recorded in the accounting system and when the cash was
actually transferred.
The outstanding balance between the Waterworks Utility Fund and the Airport Fund results from the
time lag between when Airport purchases were made by the Waterworks Utility and when the cash was
actually transferred to the Waterworks Utility.
Advances from/to:
The amount payable from the Leased Facilities Fund was a working capital loan for tenant improvement
costs at the City’s 200 Mill building. The repayment of the loan will be funded with the future lease
revenue from the tenant.
NOTE 10. LONG TERM DEBT
General Obligation Bonds
General obligation bonds are direct obligations of the City for which its full faith and credit are pledged.
Debt service for voter‐approved bonds, which the City has none, would be funded by special property
tax levies. Debt service for City Council authorized bonds (councilmatic bonds) is funded from regular
property taxes or general revenues, and is generally paid from debt service funds.
General Obligation Bonds outstanding at year‐end are as follows:
2010 Limited Tax General Obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds for the construction of a downtown parking facility.
2011 Limited Tax General Obligation bonds which funded the development and construction of
two new libraries.
2013 Limited Tax General Obligation qualified energy conservation bonds (QECB) which provided
funding for streetlight improvements.
2015 (A & B) Limited Tax General Obligation refunding bonds refunded a portion of the 2006
limited tax general obligation bonds for the construction of South Lake Washington infrastructure
improvements.
2019 Limited Tax General Obligation bonds which funded improvements to parks, trails and
recreational facilities in the City.
2019 Limited Tax General Obligation local revitalization financing bonds (LRF) which provided
funding for public infrastructure improvements in the South Lake Washington Revitalization
Area.
Receivable Fund Payable Fund Amount
Due Within
One Year
Internal Service ‐ Insurance Fund General Fund 175,000$ 175,000$
Total 175,000$ 175,000$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-54
Other intergovernmental debt, backed by the full faith and credit of the City:
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of the
Benson Hill annexation.
2019 intergovernmental debt which refunded the outstanding balance of the 2009 (A & B)
intergovernmental debt for the acquisition, construction and equipping of the SCORE facility.
Pursuant to a restated and amended interlocal agreement, the City is obligated to pay 40.96
percent of the debt service on the SCORE bonds.
Revenue Bonds
Revenue bonds are pledged from water, sewer, and storm revenues generated from the charges for
service revenues in those funds. The City is required by bond covenants to secure parity reserves for
these revenue bonds. The current parity reserves are $2,810,145.
Revenue Bonds outstanding at year‐end are as follows:
2012 Water/Sewer Revenue Refunding Bonds (Ordinance #5672) were issued in the amount of
$9,190,000 and dated December 7, 2012. The average interest rate is 2.5%. These bonds were
issued for the purpose of refunding a portion of the 2004 Water/Sewer Revenue Bonds.
2016 Water/Sewer Revenue Refunding Bonds (2008A) (Ordinance #5812) were issued in the
amount of $9,385,000 and dated October 20, 2016. The average interest rate is 1.73%. These
bonds were issued for the purpose of refunding a portion of the 2008 (A) Water/Sewer Revenue
Bonds (Exempt).
2017 Water/Sewer Revenue Refunding Bonds (2007 & 2007 Ref) (Ordinance #5846) were issued
in the amount of $6,283,168 and dated September 6, 2017. The average interest rate is 1.85%.
These bonds were issued for the purpose of partially refunding the 2007 Water/Sewer Revenue
Bonds and 2007 Water/Sewer Revenue Refunding Bonds (02).
State of Washington Public Works Trust Fund Loans (PWTFL)
PWTFL are the direct responsibility of the City. At year‐end the City has three outstanding loans, with a
remaining balance of $1,552,448. All of the remaining loans are for water capital improvements.
Remaining loans are pledged from water system revenues.
PWTFL outstanding at year‐end are as follows:
Maplewood Water Treatment Improvement loan was to fund the costs to eliminate quality
problems in water from the Maplewood wellfield wells.
CT Pipeline for Wells RW‐1, RW‐2 and RW‐3 loan was to construct the CT detention pipeline for
wells RW‐1, RW‐2 and RW‐3 at Liberty Park.
Maplewood Drinking Water Treatment Improvement loan was to construct the drinking water
treatment improvements at Maplewood.
Compensated Absences
Compensated absences are paid by those funds that have employees. These are mostly payable from
the General Fund and Waterworks Utility Fund.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-55
Capital Leases
The City leases certain machinery and equipment. These lease payments are payable from the
Equipment Rental Fund.
The following schedules summarize the long‐term debt transactions of the City for the year ended
December 31, 2019. The first two tables reflect total annual debt service requirements to maturity, while
the third table provides detailed information on all long‐term debt.
Year Principal Interest Principal Interest
2020 5,938,442 2,540,427 215,000 62,307
2021 6,163,822 2,315,726 215,000 55,384
2022 3,638,931 2,037,015 215,000 48,461
2023 2,929,586 1,877,455 215,000 41,538
2024 3,052,631 1,754,374 215,000 34,615
2025‐2029 15,431,140 6,707,591 860,000 69,230
2030‐2034 11,550,864 3,766,662 ‐ ‐
2035‐2039 11,415,530 1,337,476 ‐ ‐
2040‐2044 1,805,000 184,200 ‐ ‐
Totals 61,925,946 22,520,926 1,935,000 311,535
Bonds Bonds ‐ Direct Placements
Governmental Activities
Year Principal Interest Principal Interest Principal Interest
2020 280,000 260,700 2,005,000 201,853 345,818 7,762
2021 295,000 252,300 2,035,000 165,223 345,818 6,033
2022 305,000 243,450 2,070,000 128,255 315,517 4,304
2023 1,470,000 234,300 1,015,000 90,652 272,647 2,726
2024 1,515,000 190,200 1,030,000 73,093 272,648 1,363
2025‐2029 4,825,000 292,350 3,195,000 111,239 ‐ ‐
Totals 8,690,000 1,473,300 11,350,000 770,315 1,552,448 22,189
Revenue Bonds‐ Direct PlacementsBonds
Business‐Type Activities
Loans ‐ Direct Borrowings
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-56
The outstanding loans from direct borrowings related to business‐type activities of $60,602 and
$128,610 contain (1) a provision that in the event of default, outstanding amounts become immediately
due if the City is unable to make payment and (2) a provision that if the City fails to comply with the
terms of the agreement or fails to use the loan proceeds for the identified activities, the loan agreement
will be terminated and the remaining balance become immediately due.
Issue Name Interest Rates Maturity Date
Original Issue
Amount
Beginning
Balance
01/01/2019 Additions Deductions
Ending Balance
12/31/2019
Due Within
One Year
GOVERNMENTAL‐TYPE DEBT:
Limited General Obligation Bonds:
2010 GO Refunding Bonds 3.00%‐4.50% 12/1/2021 $ 6,170,000 4,585,000$ ‐ 1,460,000$ 3,125,000$ 1,530,000$
2011 GO Library Bonds 2.00%‐5.00% 12/1/2022 16,715,000 6,160,000 ‐ 1,700,000 4,460,000 1,780,000
2015 (A) GO S LK WA Infr Refunding (BQ) 3.00%‐4.00% 12/1/2028 8,825,000 8,825,000 ‐ ‐ 8,825,000 275,000
2015 (B) GO S LK WA Infr Refunding (Tax)0.50%‐2.07% 12/1/2020 3,695,000 1,525,000 ‐ 890,000 635,000 635,000
2019 GO Parks Bonds 3.00%‐5.00% 12/1/2038 12,960,000 ‐ 12,960,000 265,000 12,695,000 425,000
2019 GO LRF Bonds (Transportation) 3.00%‐5.00% 12/1/2043 7,885,000 ‐ 7,885,000 285,000 7,600,000 180,000
Unamortized (discount)/premium 1,460,089 2,593,852 330,320 3,723,621 ‐
56,250,000 22,555,089 23,438,852 4,930,320 41,063,621 4,825,000
General Obligation Bonds from Direct Placements:
2013 GO QECB 3.22% 7/1/2028 3,200,000 2,150,000 ‐ 215,000 1,935,000 215,000
3,200,000 2,150,000 ‐ 215,000 1,935,000 215,000
2009 FD 40 Loan for acquisition of FS13 3.75% 9/1/2028 6,798,085 4,026,764 ‐ 352,946 3,673,818 365,922
2009 (A) SCORE Tax Exempt 4.00%‐5.00% 1/1/2022 2,953,800 991,800 ‐ 991,800 ‐ ‐
2009 (B) SCORE BABS 3.00%‐6.62% 1/1/2039 28,090,800 24,791,400 ‐ 24,791,400 ‐ ‐
2019 SCORE Refunding Bonds 3.00%‐5.00% 12/1/2038 20,912,128 ‐ 20,912,128 ‐ 20,912,128 747,520
Total Intergovernmental Debt 58,754,813 29,809,964 20,912,128 26,136,146 24,585,946 1,113,442
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 3,592,303 3,109,599 2,584,725 4,117,177 2,981,721
Other Post Employment Benefits (OPEB)* 43,028,675 ‐ 3,604,659 39,424,016 ‐
Net Pension Liability 13,978,719 ‐ 3,472,947 10,505,772 ‐
Capital Leases 3.33% 12/1/2019 169,245 35,849 ‐ 33,244 2,605 2,605
Total Other Long‐Term Liabilities 169,245 60,635,546 3,109,599 9,695,575 54,049,570 2,984,326
118,374,058$ 115,150,599$ 47,460,579$ 40,977,042$ 121,634,136$ 9,137,768$
BUSINESS‐TYPE DEBT:
Revenue Bonds:
2012 Water/Sewer Refunding 2.00%‐3.00% 12/1/2027 $ 9,190,000 8,910,000$ ‐ 220,000$ 8,690,000$ 280,000$
Unamortized (discount)/premium 455,572 ‐ 50,619 404,953 ‐
Total Revenue Bonds 9,190,000 9,365,572 ‐ 270,619 9,094,953 280,000
Revenue Bonds from Direct Placements:
2016 Water/Sewer Refunding (2008A) 1.73% 12/1/2027 9,385,000 8,445,000 ‐ 740,000 7,705,000 800,000
2017 Water/Sewer Refunding (2007 & 2007 Ref) 1.85% 12/1/2022 6,283,168 4,930,000 ‐ 1,285,000 3,645,000 1,205,000
Total Revenue Bonds from Direct Placements 15,668,168 13,375,000 ‐ 2,025,000 11,350,000 2,005,000
Loans from Direct Borrowings:
Public Works Trust Fund Loans:
Maplewood Water Treatment Improvement 0.50% 7/1/2021 567,831 90,903 ‐ 30,301 60,602 30,301
Construct CT Pipeline for Wells 0.50% 7/1/2022 814,527 171,480 ‐ 42,870 128,610 42,870
Maplewood Water Treatment Improvement 0.50% 7/1/2024 5,150,000 1,635,883 ‐ 272,647 1,363,236 272,647
6,532,358 1,898,266 ‐ 345,818 1,552,448 345,818
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 692,764 491,073 482,587 701,250 484,623
Net Pension Liability 4,030,118 ‐ 883,165 3,146,953 ‐
Total Other Long‐Term Liabilities 4,722,882 491,073 1,365,752 3,848,203 484,623
$ 15,722,358 29,361,720$ 491,073$ 4,007,189$ 25,845,604$ 3,115,441$
$ 134,096,416 $ 144,512,319 $ 47,951,652 $ 44,984,231 $ 147,479,740 $ 12,253,209
*GASB Statement Number 75 changed OPEB reporting from net to total
Schedule of Changes of Long‐Term Debt
TOTAL ALL FUNDS
TOTAL BUSINESS‐TYPE DEBT
TOTAL GOVERNMENTAL‐TYPE DEBT
Total Loans from Direct Borrowingss
Total General Obligation Bonds
Other Intergovernmental ‐ Backed by full faith and credit of the City:
Total General Obligation Bonds from Direct Placements
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-57
Debt Limit Capacity
State law provides that debt cannot be incurred in excess of the following percentages of the value of
the taxable property of the City: 1.5 percent without a vote of the people provided the indebtedness
with a vote is 1 percent or less; 2.5 percent with a vote of the people; 5.0 percent with a vote of the
people, provided the indebtedness in excess of 2.5 percent is for utilities; and 7.5 percent with a vote of
the people provided the indebtedness in excess of 5.0 percent is for open space development and parks
facilities. Table 16 in the Statistical Section shows the computation of legal debt margin for general and
special purpose capacities for the City of Renton.
Estimated Arbitrage Rebate
The City engages an outside agency to calculate its’ arbitrage rebate liability on outstanding tax‐exempt
bonds and certificates of participation under Section 148(f) of the Internal Revenue Code. No additional
rebate was found due for any revenue or general obligation bonds for 2019.
Issued/Refunded Debt
On December 11, 2019, the South Correctional Entity Facility Public Development Authority issued
$51,055,000 in 2019 SCORE Refunding Bonds (2009 A & B) with an average interest rate of 4.00% to
advance refund $71,620,000 of outstanding 2009 SCORE Tax Exempt and 2009 SCORE BABS. The
proceeds, together with other legally available funds, were used to defease the original bond. The City’s
portion of the issuance was $20,912,128.
NOTE 11. JOINT VENTURES
A joint venture is a legal entity or other organization that results from a contractual agreement and that
is owned, operated, or governed by two or more participants as a separate and specific activity subject
to joint control in which the participants retain (a) an on‐going financial interest or (b) an on‐going
financial responsibility. The City participates in two joint ventures, both of which are sanctioned by the
provisions and terms of the Interlocal Cooperation Act pursuant to Chapter 39.34 RCW.
VALLEY COMMUNICATIONS CENTER
The Valley Communications Center (Valley Com) was established August 20, 1976, when an Interlocal
Agreement was entered into by four original participating municipal corporations, including the cities of
Renton, Kent, Auburn, and Tukwila. Federal Way was formally admitted in 2000. The initial duration of
the agreement was five years, and thereafter is automatically extended for consecutive five‐year
periods.
The purpose of the joint operation, hereafter referred to as Valley Com, is to provide improved
consolidated emergency communications (dispatch) services for police, fire, and medical aid to the five
participating cities and to several subscribing agencies that include: King County Fire Districts 2, 20, 44,
47; City of Pacific Police Department; City of Black Diamond Police Department; City of Des Moines Police
Department; City of Algona Police Department; Enumclaw Fire; Valley Regional Fire Authority; North
Highline Fire Department; South King Fire & Rescue; Vashon Island Fire & Rescue; King County Airport;
Puget Sound Regional Fire Authority; Renton Regional Fire Authority, KC Sheriff’s Office; and KC Medic
One. Separate agreements between Valley Com and the subscribing agencies have been executed,
which set forth conditions of services and rates charged.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-58
The City made payments totaling $2,805,968 to support Valley Com’s operating costs during the year
ended December 31, 2019.
The City reports its share of equity interest in the Governmental Activities column within the
Government‐wide financial statements under non‐current assets – investments in joint ventures. The
following is condensed financial information as of December 31, 2019 related to Valley Communications
Center:
Complete Financial Statements for Valley Com can be obtained from the Valley Communications Center,
23807 – 98th Avenue South, Kent, WA 98031.
SOUTH CORRECTIONAL ENTITY (SCORE)
The South Correctional Entity (SCORE), a consolidated correctional facility, was established February 25,
2009, when an interlocal agreement was entered into by seven participating municipal governments
(“owner cities”) of Auburn, Burien, Des Moines, Federal Way, Renton, SeaTac and Tukwila. This
agreement was amended and restated October 1, 2009 and named the City of Des Moines as the “host
city”. Pursuant to a separate “Host City Agreement” dated October 1, 2009, the host city will not enjoy
the same equity position as the original owner cities until all debts issued are paid and the host city fulfills
all of its obligations as outlined in the Agreement. On December 11, 2019, the internal local agreement
was again amended to reflect the withdrawal of Federal Way as an owner city and added the City of Des
Moines as an owner city, terminating the host city agreement. The internal local agreement also
included other revisions to provide the issuance of bonds to refund the 2009 bonds.
The purpose of the interlocal operation, SCORE, is to serve the Member Cities and Subscribing Agencies
which are in need of correctional facilities. SCORE provides correctional services and functions incidental
thereto, for the purpose of detaining arrestees and sentenced offenders in the furtherance of public
safety and emergencies within the jurisdiction of the Member Cities. Separate agreements between
SCORE and subscribing agencies have been executed, which set forth conditions of services and rates
charged.
Member City Percent of Equity 2018 Equity Balance 2019 Distribution 2019 Equity Balance
Auburn 21.76% 6,040,861$ 592,819$ 6,633,680
Federal Way 17.88% 4,904,391 547,205 5,451,596
Kent 28.86% 8,090,075 707,890 8,797,965
Renton 21.10% 5,882,812 548,074 6,430,886
Tukwila 10.40% 2,950,969 218,376 3,169,345
Grand Totals 100.00% 27,869,108$ 2,614,364$ 30,483,472$
Valley Communications Center
2019 Owner Cities Equity Allocation
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-59
Financing for the acquisition, construction, equipping, and improvement of the SCORE Facility was
provided by bonds issued by the South Correctional Entity Facility Public Development Authority (the
“SCORE PDA”), a public development authority chartered by the City of Renton pursuant to RCW
35.21.730 through 35.21.755 and secured by the full faith and credit of the Cities of Auburn, Burien,
Federal Way, Renton, SeaTac, and Tukwila (the owner cities). The SCORE PDA issued $86 million in special
obligation bonds in 2009 to carry out the facility development project. As previously mentioned SCORE
issued refunding bonds on December 11, 2019 in the amount of $51,055,000 (2019 Bonds). The proceeds
of the 2019 bonds were used together with a contribution from Federal Way to fully pay its 2009 Capital
Contribution, to defease and refund all of the outstanding 2009 bonds. Federal Way has also reduced
their owner equity balance to zero in 2019 and no longer holds responsibility for any long‐term debt.
The following is a summary of the debt service requirements, for each owner city:
The City of Renton made payments totaling $5,765,973 to support SCORE’s operating costs during the
year ended December 31, 2019.
Auburn Burien Des Moines Renton SeaTac Tukwila
Year 34.94%4.82%6.02%40.96%3.62%9.64%
2020 1,365,518 188,374 235,272 1,600,791 141,476 376,749
2021 1,366,049 188,448 235,364 1,601,413 141,531 376,895
2022 1,366,538 188,515 235,448 1,601,987 141,582 377,030
2023 1,365,979 188,438 235,352 1,601,331 141,524 376,876
2024 1,366,119 188,457 235,376 1,601,495 141,538 376,914
2025‐2029 6,830,246 942,238 1,176,820 8,007,066 707,656 1,884,475
2030‐2034 6,830,980 942,339 1,176,946 8,007,926 707,732 1,884,678
2035‐2038 5,463,515 753,696 941,338 6,404,854 566,054 1,507,392
Totals 25,954,944$ 3,580,505$ 4,471,916$ 30,426,863$ 2,689,093$ 7,161,009$
Debt Service Allocation to Owner Cities
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-60
The City reports its share of equity interest in the Governmental Activities column within the
Government‐wide financial statements under non‐current assets – investments in joint ventures. The
following is condensed financial information as of December 31, 2019 related to SCORE:
Complete financial statements for SCORE and SCORE PDA can be obtained at SCORE, 20817 17th Avenue
South, Des Moines, WA 98198.
NOTE 12. AIRPORT LEASES
The majority of the Municipal Airport’s revenue is derived from leases which convey the right to use land
and various airport facilities which are accounted for as operating leases. Minimum future rental on non‐
cancellable operating leases are as follows:
Of the amounts shown above, one tenant comprises 60% of all future minimum lease rentals. The
tenant’s multiple leases expire in 2030.
Member City Percent of Equity
2018 Equity
Balance 2019 Distribution
2019 Equity
Balance
Auburn 42.75% 4,097,405$ 9,388,551$ 13,485,956$
Burien 5.21% 526,262 1,116,489 1,642,751
Des Moines 4.65% 341,845 1,123,593 1,465,438
Federal Way 0.00% 3,485,570 (3,485,570) ‐
Renton 31.93% 4,157,539 5,913,244 10,070,783
SeaTac 7.59% 719,440 1,675,971 2,395,411
Tukwila 7.87% 1,031,108 1,450,471 2,481,579
Grand Totals 100.00% 14,359,169$ 17,182,749$ 31,541,918$
South Correctional Entity (SCORE)
2019 Owner Cities Equity Allocation
For the Year Ended
December 31:
2020 2,754,133$
2021 2,768,795
2022 2,768,280
2023 2,641,727
2024 2,564,921
Thereafter 20,490,391
33,988,247$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-61
A summary of assets leased or available for tenant use is as follows:
NOTE 13. CAPITAL LEASE
In December, 2014 the City entered into a lease agreement as lessee for financing the acquisition of
three Xerox copiers valued at $169,245. The equipment has a five year estimated useful life. This year,
$33,849 was included in depreciation expense and accumulated depreciation at December 31, 2019 was
$169,245.
The future minimum lease obligations and the net present value of these lease payments as of December
31, 2019, were as follows:
NOTE 14. TAX ABATEMENT
As of December 31, 2019, the City provides tax abatements through two programs ‐ the Affordable Multi‐
Family Housing Property Tax Exemption and the New Job Business & Occupation Tax Credit.
Multifamily Housing Property Tax Exemption
Under the provisions of the Preservation Tax Exemption program (RCW 84.14), the City has taken
advantage of the option to provide targeted property tax exemption to existing property owners who
agree to restrict rents and provide income‐eligibility for a portion of the units within their properties.
The purpose of this program incentivizes the creation of affordable and improved housing quality and
prevent displacement for citizens that are in the most need. The City has a comprehensive program that
has specific parameters for project eligibility and duration of exemption.
Provided a property meets the eligibility criteria and the property owner continues to fulfill the
requirements of affordable housing, the property will receive a property tax exemption on the appraised
value of improvements, regardless of assessed valuation. This exemption is not extended to the
appraised value of land or non‐eligible improvements on the same parcel. Eligibility criteria includes, at
a minimum: the property owner must provide affordable housing to low‐income households for 20% of
the multi‐units available for rent and the property must be located in one of the designated “residential
target areas”.
Cost 28,170,047$
Less: Accumulated Depreciation (10,081,779)
Carrying Value 18,088,268$
Year ending December 31:
Governmental
Activities
2020 2,605$
Total 2,605
Less amount representing interest ‐
Present value of minimum lease payments 2,605$
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-62
All exemptions granted after July 2007 range from 8‐12 years depending on the exemption option
selected. There are no provisions to recapture abated taxes. As of December 31, 2019 the City has
thirteen projects that are subject to property tax abatement.
New Jobs Business & Occupation Tax Credit
The purpose of the New Jobs Business & Occupation Tax Credit is to provide a temporary tax credit
relating to new businesses to encourage business growth or relocation into the City. In order to qualify
for the tax credit, businesses must create fifty or more new full time employment positions in the first
year of business in the City. The credit is equal to one thousand dollars for each new full‐time
employment position created and is used to reduce the amount of Business & Occupation tax owed by
the business. A business may claim the credit under this program for the first twelve consecution
reporting quarters or three reporting years.
Tax Abatement Program
Tax abated in the
fiscal year ending
12/31/2019
Property Tax Exemption for Affordable Multi-Family Housing $ 613,719
New Jobs Business & Occupation Tax Credit $ 120,792
State of Washington Sales Tax Exemptions
The State of Washington has tax abatements that allow for sales/use tax exemptions and deferrals.
Purchases for computer hardware, computer peripherals, or software used primarily in the
development, design and engineering of aerospace products or providing aerospace services or sales are
exempt from sales and use tax per RCW 82.08.975 and 82.12.975. The exemption also applies to sales
of labor and services rendered in respect to installing the computer hardware, peripherals or software
used to develop or design aerospace products. The eligible purchaser must present a Buyers’ Retail
Sales Tax Exemption Certificate to the seller at the time of purchase.
The State of Washington is prohibited by the law to disclose detail on the amount of abatements
provided under these exemption and deferrals.
NOTE 15. SUBSEQUENT EVENTS
In February 2020, the Governor of the state of Washington declared a state of emergency in response
to the spread of a deadly new virus. In the weeks following the declaration, precautionary measures to
slow the spread of the virus have been ordered. These measures include closing schools, colleges and
universities, cancelling public events, prohibiting public and private gatherings, and requiring people to
stay home unless they are leaving for an essential function.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-63
The City of Renton issued a proclamation of local emergency on March 6, 2020 in order to support
measures that may be needed in order to protect public health, safety and welfare within the City. On
March 11, 2020 an emergency order was issued to close public facilities, including recreations centers
and City Hall, and on March 23, 2020 the City closed outdoor recreations facilities including parks,
playgrounds, and the Maplewood Golf Course.
City Services continued to be offered online such as applications for permits and business licensing and
payment of utility bills. In line with the Governors orders, extensions to pay utility bills and taxes were
granted to our business and residential community along with waiving any penalties for late payment.
The City estimates a possible reduction in revenues of approximately 18% for the General Fund and
approximately 5% for the Waterworks Utility Fund. The policy team immediately made decisions to
reduce discretionary funding, delay hiring for vacant positions, eliminate out of state travel and training,
reduce staff overtime, identify capital improvement projects that could be eliminated or deferred and is
participating in the shared work program for furloughed employees. The City has continued efforts to
pursue funding from federal and state governments. The City has also increased support of local
businesses such as helping to identify city, state and federal economic relief programs.
The length of time these measures will be in place and the full extent of the financial impact on the City
is unknown at this time.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Basic Financial Statements, 4-64
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 72,634,628 $ 84,027,220 $ 84,629,363 $ 602,143
Licenses and permits 6,012,360 5,412,360 5,730,457 318,097
Intergovernmental revenues 3,760,592 5,462,108 5,414,357 (47,751)
Charges for services 9,120,191 9,291,414 9,354,477 63,063
Fines and forfeits 4,259,187 4,907,750 4,688,193 (219,557)
Contributions 125,204 224,183 209,625 (14,558)
Interest revenue 830,000 1,130,000 1,388,265 258,265
Miscellaneous revenue 1,670,367 1,876,368 2,079,237 202,869
Total revenues 98,412,529 112,331,403 113,493,974 1,162,571
EXPENDITURES
Current:
General government 15,328,001 15,500,888 14,051,281 1,449,607
Judicial 3,096,159 3,453,989 3,162,916 291,073
Public safety 40,921,326 42,832,792 42,841,721 (8,929)
Utilities 488,799 489,541 464,237 25,304
Transportation 11,997,732 11,748,858 11,500,768 248,090
Economic environment 9,578,999 9,495,714 8,595,014 900,700
Health and human services 2,241,127 2,785,519 2,515,683 269,836
Culture and recreation 12,999,622 14,459,799 13,130,017 1,329,782
Total current 96,651,765 100,767,100 96,261,637 4,505,463
Capital outlay:
General government ‐ ‐ 27,188 (27,188)
Public safety ‐ ‐ 23,283 (23,283)
Transportation 5,200 5,200 ‐ 5,200
Economic environment ‐ 1,002,968 82,163 920,805
Culture and recreation ‐ 50,000 12,243 37,757
Total capital outlay 5,200 1,058,168 144,877 913,291
Debt service:
Principal payment 175,000 175,000 175,000 ‐
Total debt service 175,000 175,000 175,000 ‐
Total expenditures 96,831,965 102,000,268 96,581,514 5,418,754
Excess (deficiency) of revenues over expenditures 1,580,564 10,331,135 16,912,460 6,581,325
OTHER FINANCING SOURCES (USES)
Transfer in 900,000 13,229,818 13,242,532 12,714
Transfers out (4,393,000) (31,793,281) (27,362,708) 4,430,573
Insurance Recoveries ‐ ‐ 10,949 10,949
Total other financing sources (uses) (3,493,000) (18,563,463) (14,109,227) 4,454,236
Net change in fund balances (1,912,436) (8,232,328) 2,803,233 11,035,561
FUND BALANCE ‐ JANUARY 1 30,807,162 44,542,987 52,059,775 7,516,788
FUND BALANCE ‐ DECEMBER 31 $ 28,894,726 $ 36,310,659 $ 54,863,008 $ 18,552,349
Budgeted Amounts
City of Renton
General
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-1
NOTES TO SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL – GENERAL FUND
NOTE 1. BUDGETARY BASIS OF ACCOUNTING
The City of Renton’s biennial budget procedures are mandated by the Chapter 35A.33 of the Revised
Code of Washington (RCW). The budget, as adopted, constitutes the legal authority for expenditures.
The biennial budget is adopted with budgetary control at the fund level, so expenditures may not legally
exceed appropriations at that level of detail. Transfers or revisions within funds are allowed, but only
the City Council has the legal authority to increase or decrease a given fund’s annual budget. This is
accomplished by City ordinance. Adopted budgets lapse at year‐end and must be re‐appropriated
(carried forward) the next fiscal year.
The Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual is presented
on a budgetary basis (non‐GAAP). The budgetary basis of accounting is substantially the same as the
modified accrual basis of accounting in all governmental funds except for the following differences:
Perspective differences – the General Fund is structured differently for budgeting purposes than
it is for reporting under GAAP. The Schedule of Revenues, Expenditures, and Changes in Fund
Balance – Budget and Actual for the General Fund is presented on the budgetary basis for the
legally adopted budget of the General Fund. The differences are as follows:
o The City maintains various management funds that are reported within the General Fund.
Consolidation of the funds results in the elimination of transfers between the
consolidated funds for GAAP reporting.
Basis differences – certain payments and receipts are budgeted for in a manner that is
inconsistent with GAAP:
o Interfund payments for indirect cost allocations and reimbursement of payroll costs
associated with capital projects are budgeted as interfund revenues, however, these
payments are reclassified as a reduction of the expenditure for GAAP reporting.
o Interfund loan payments are budgeted as debt service expenditures, however, these
payments are reclassified as a reduction of the interfund loan payable for GAAP reporting.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-2
NOTES TO SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL – GENERAL FUND
A reconciliation of Revenues, Expenditures, and Changes in Fund Balance budgetary basis to GAAP
basis is as follows:
Perspective
Difference
General
Sub‐fund
Consolidation
Interfund
Revenues
Interfund
loan
payment
Total Basis
Differences
Total
GAAP Basis
REVENUES
Taxes $ 84,629,363 $ ‐ $ ‐ $ ‐ $ ‐ $ 84,629,363
Licenses and permits 5,730,457 ‐ ‐ ‐ ‐ 5,730,457
Intergovernmental revenues 5,414,357 ‐ ‐ ‐ ‐ 5,414,357
Charges for services 9,354,477 ‐ (4,047,254) ‐ (4,047,254) 5,307,223
Fines and forfeits 4,688,193 ‐ ‐ ‐ ‐ 4,688,193
Contributions 209,625 ‐ ‐ ‐ ‐ 209,625
Interest revenue 1,388,265 ‐ ‐ ‐ ‐ 1,388,265
Miscellaneous revenue 2,079,237 ‐ ‐ ‐ ‐ 2,079,237
Total revenues 113,493,974 ‐ (4,047,254) ‐ (4,047,254) 109,446,720
EXPENDITURES
Current:
General government 14,051,281 ‐ (1,758,108) ‐ (1,758,108) 12,293,173
Judicial 3,162,916 ‐ ‐ ‐ ‐ 3,162,916
Public safety 42,841,721 ‐ ‐ ‐ ‐ 42,841,721
Utilities 464,237 ‐ (219,785) ‐ (219,785) 244,452
Transportation 11,500,768 ‐ (865,956) ‐ (865,956) 10,634,812
Economic environment 8,595,014 ‐ (891,233) ‐ (891,233) 7,703,781
Health and human services 2,515,683 ‐ ‐ ‐ ‐ 2,515,683
Culture and recreation 13,130,017 ‐ (312,172) ‐ (312,172) 12,817,845
Total current 96,261,637 ‐ (4,047,254) ‐ (4,047,254) 92,214,383
Capital outlay:
General government 27,188 ‐ ‐ ‐ ‐ 27,188
Public safety 23,283 ‐ ‐ ‐ ‐ 23,283
Economic environment 82,163 ‐ ‐ ‐ ‐ 82,163
Culture and recreation 12,243 ‐ ‐ ‐ ‐ 12,243
Total capital outlay 144,877 ‐ ‐ ‐ ‐ 144,877
Debt service:
Principal payment 175,000 ‐ ‐ (175,000) (175,000) ‐
Total debt service 175,000 ‐ ‐ (175,000) (175,000) ‐
Total expenditures 96,581,514 ‐ (4,047,254) (175,000) (4,222,254) 92,359,260
Excess (deficiency) of revenues over
expenditures 16,912,460 ‐ ‐ 175,000 175,000 17,087,460
OTHER FINANCING SOURCES (USES)
Transfers in 13,242,532 (11,829,065) ‐ ‐ ‐ 1,413,467
Transfers out (27,362,708) 11,829,065 ‐ ‐ ‐ (15,533,643)
Insurance Recoveries 10,949 ‐ ‐ ‐ ‐ 10,949
Total other financing sources (uses) (14,109,227) ‐ ‐ ‐ ‐ (14,109,227)
Net change in fund balances $ 2,803,233 $ ‐ $ ‐ $ 175,000 $ 175,000 $ 2,978,233
Basis Differences
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-3
City of Renton
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset)
Measurement Date of June 30 *
Last 10 Fiscal Years
PERS Plan 1 2019 2018 2017 2016 2015 2014
City's proportion of the net pension liability/(asset)0.268500% 0.271486% 0.282530% 0.276331% 0.275830% 0.273241%
City's proportionate share of the net pension
liability/(asset)**10,324,778$ 12,124,657$ 13,406,269$ 14,840,276$ 14,428,474$ 13,764,644$
City's covered payroll 37,595,653$ 36,344,451$ 35,481,222$ 32,889,898$ 31,005,185$ 29,656,856$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered
payroll 27.46% 33.36% 37.78% 45.12% 46.54% 46.41%
Plan fiduciary net position as a percentage of the
total pension liability 67.12% 63.22% 61.24% 57.03% 59.10% 61.19%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $280,481 in net pension liability transferred to the RFA on 6/30/16 to avoid skewing percentage of
covered payroll ratio.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-4
City of Renton
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset)
Measurement Date of June 30 *
Last 10 Fiscal Years
PERS Plan 2/3 2019 2018 2017 2016 2015 2014
City's proportion of the net pension liability/(asset)0.342614% 0.344584% 0.356727% 0.343835% 0.345072% 0.337183%
City's proportionate share of the net pension
liability/(asset)**3,327,947$ 5,883,465$ 12,394,558$ 17,311,821$ 12,329,619$ 6,815,686$
City's covered payroll 37,260,677$ 36,036,413$ 35,045,479$ 32,370,185$ 30,618,109$ 29,147,610$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered
payroll 8.93% 16.33% 35.37% 53.48% 40.27% 23.38%
Plan fiduciary net position as a percentage of the
total pension liability 97.77% 95.77% 90.97% 85.82% 89.20% 93.29%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $327,194 in net pension liability transferred to the RFA on 6/30/16 to avoid skewing percentage of
covered payroll ratio.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-5
City of Renton
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset)
Measurement Date of June 30 *
Last 10 Fiscal Years
PSERS Plan 2 2019 2018 2017 2016 2015 2014
City's proportion of the net pension liability/(asset)0.055527% 0.057762% 0.065808% 0.065158% 0.042991% 0.464430%
City's proportionate share of the net pension
liability/(asset)(7,221)$ 716$ 27,967$ 11,892$ 7,846$ (6,725)$
City's covered payroll 255,388$ 226,589$ 233,001$ 211,427$ 124,200$ 125,311$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered
payroll ‐2.83%0.32% 12.00%5.62%6.32%‐5.37%
Plan fiduciary net position as a percentage of the
total pension liability 101.85% 99.79% 90.41% 95.08% 95.08% 105.01%
* This schedule will be built prospectively until it contains ten years of data.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-6
City of Renton
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset)
Measurement Date of June 30 *
Last 10 Fiscal Years
LEOFF Plan 1 2019 2018 2017 2016 2015 2014
City's proportion of the net pension liability/(asset)0.235664% 0.233551% 0.235931% 0.231059% 0.229885% 0.225836%
City's proportionate share of the net pension
liability/(asset)**(4,658,161)$ (4,240,123)$ (2,430,764)$ (2,784,772)$ (2,770,622)$ (2,738,919)$
State's proportionate share of the net pension
liability/(asset) associated with the City (31,507,679) (28,680,087) (24,212,271) (16,524,364) (18,740,418) (18,525,980)
Total (36,165,840)$ (32,920,210)$ (26,643,035)$ (19,309,136)$ (21,511,040)$ (21,264,899)$
City's covered payroll ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered
payroll N/A N/A N/A N/A N/A N/A
Plan fiduciary net position as a percentage of the
total pension liability 148.78% 144.42% 123.74% 127.36% 127.36% 127.36%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $1,325,025 in net pension asset transferred to the RFA on 6/30/16 to avoid skewing percentage of
covered payroll ratio.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-7
City of Renton
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset)
Measurement Date of June 30 *
Last 10 Fiscal Years
LEOFF Plan 2 2019 2018 2017 2016 2015 2014
City's proportion of the net pension liability/(asset)0.445635% 0.451824% 0.468330% 0.947284% 0.954715% 0.947521%
City's proportionate share of the net pension
liability/(asset)**(10,323,995)$ (9,173,012)$ (2,723,948)$ (9,736,185)$ (9,812,561)$ (12,574,011)$
State's proportionate share of the net pension
liability/(asset) associated with the City (6,760,833) (5,939,352) (4,215,723) (1,592,656) (925,241) (870,262)
Total (17,084,828)$ (15,112,364)$ (6,939,671)$ (11,328,841)$ (10,737,802)$ (13,444,273)$
City's covered payroll 15,336,814$ 14,669,121$ 14,650,540$ 28,694,750$ 27,709,532$ 26,365,930$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered
payroll ‐67.32%‐62.53%‐18.59%‐33.93%‐35.41%‐47.69%
Plan fiduciary net position as a percentage of the
total pension liability 119.43% 118.50% 106.04% 111.67% 111.67% 116.75%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $3,066,692 in net pension asset transferred to the RFA on 6/30/16 to avoid skewing percentage of
covered payroll ratio.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-8
Schedule of Employer Contributions
WA Department of Retirement Systems
As of December 31
Last 10 Fiscal Years
PERS Plan 1 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Contractually Required Contribution 1,926,964$ 1,879,300$ 1,717,805$ 1,619,494$ 2,190,238$ 1,253,454$ N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 1,926,964 1,879,300 1,717,805 1,619,494 2,190,238 1,253,454 N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ N/A N/A N/A N/A
Covered payroll 38,826,806$ 37,103,778$ 35,120,529$ 33,737,587$ 48,318,549$ 30,448,215$ N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 4.96% 5.06% 4.89% 4.80% 4.53% 4.12% N/A N/A N/A N/A
PERS Plan 2/3 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Contractually Required Contribution 2,964,353$ 2,752,176$ 2,375,793$ 2,067,865$ 2,743,908$ 1,490,022$ N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 2,964,353 2,752,176 2,375,793 2,067,865 2,743,908 1,490,022 N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ N/A N/A N/A N/A
Covered payroll 38,495,775$ 36,791,404$ 34,783,770$ 33,263,999$ 47,552,982$ 29,821,815$ N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 7.70% 7.48% 6.83% 6.22% 5.77% 5.00% N/A N/A N/A N/A
PSERS Plan 2 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Contractually Required Contribution 20,872$ 15,723$ 14,929$ 14,489$ 18,418$ 7,845$ N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 20,872 15,723 14,929 14,489 18,418 7,845 N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ N/A N/A N/A N/A
Covered payroll 292,650$ 229,922$ 224,038$ 219,869$ 282,407$ 122,185$ N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 7.13% 6.84% 6.66% 6.59% 6.52% 6.42% N/A N/A N/A N/A
LEOFF Plan 2 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
0
Contractually Required Contribution 840,501$ 801,240$ 715,573$ 1,049,917$ 2,160,553$ 1,368,037$ N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 840,501 801,240 715,573 1,049,917 2,160,553 1,368,037 N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ N/A N/A N/A N/A
Covered payroll 15,818,413$ 14,805,412$ 13,896,060$ 20,790,373$ 42,778,479$ 27,089,783$ N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 5.31% 5.41% 5.15% 5.05% 5.05% 5.05% N/A N/A N/A N/A
0
Note: Prior years' information is unavailable
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-9
City of RentonSchedule of Changes in Net Pension Liability and Related RatiosFirefighters' Pension FundLast 10 Fiscal Years$ Thousands2019 2018 2017 2016 2015 2014 2013 2012 2011 2010Total Pension LiabilityService Cost‐$ ‐$ ‐$ ‐$ ‐$ ‐ N/A N/A N/A N/AInterest on Total Pension Liability100 94 103 106 109 112 N/A N/A N/A N/AEffect of Plan Changes‐ ‐ ‐ ‐ ‐ ‐ N/A N/A N/A N/AEffect of Economic/Demographic Gains or (Losses)(331) ‐ ‐ (29) ‐ ‐ N/A N/A N/A N/AEffect of Assumption Changes or Inputs207 (94) 52 (125) ‐ ‐ N/A N/A N/A N/ABenefit payments(194) (193) (240) (208) (205) (204) N/A N/A N/A N/ANet Change in Total Pension Liability(219) (192) (84) (256) (96) (92) N/A N/A N/A N/ATotal Pension Liability ‐ Beginning2,592 2,784 2,868 3,125 3,221 3,313 N/A N/A N/A N/ATotal Pension Liability ‐ Ending (a)2,373$ 2,592$ 2,784$ 2,868$ 3,125$ 3,221$ N/A N/A N/A N/APlan Fiduciary Net PositionEmployer Contributions‐$ ‐$ ‐$ ‐$ ‐$ ‐ N/A N/A N/A N/AContributions from State Fire Insurance Premium Tax155 154 151 148 146 143 N/A N/A N/A N/AInvestment Income Net of Investment Expenses294 121 114 136 134 394 N/A N/A N/A N/ABenefit payments(194) (193) (240) (208) (205) (204) N/A N/A N/A N/AMedical Payments from Fund‐ ‐ ‐ ‐ ‐ ‐ N/A N/A N/A N/AAdministrative Expense(12) ‐ (12) ‐ (12) (1) N/A N/A N/A N/ANet Change in plan fiduciary net position242 83 13 76 63 332 N/A N/A N/A N/APlan fiduciary net position ‐ beginning9,703 9,619 9,607 9,531 9,468 9,136 N/A N/A N/A N/APlan fiduciary net position ‐ ending (b)9,945 9,703 9,619 9,607 9,531 9,468 N/AN/A N/A N/ANet pension liability ‐ ending =(a)‐(b)(7,572)$ (7,111)$ (6,835)$ (6,739)$ (6,406)$ (6,247)$ N/A N/A N/A N/AFiduciary net position as a percentage of the total pension liability419.09% 374.34% 345.51% 334.97% 304.99% 293.95% N/A N/A N/A N/ACovered Payroll‐$ ‐$ ‐$ ‐$ ‐$ 0 N/A N/A N/A N/ANet pension liability as a percentage of covered payrollN/A N/A N/A N/A N/A N/A N/A N/A N/A N/ANotes to schedule:Prior years' information is unavailable.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonRequired Supplementary Information, 5-10
Schedule of Employer ContributionsFirefighters' Pension FundLast 10 Fiscal Years2019 2018 2017 2016 2015 20142013 2012 2011 2010Actuarially determined contribution‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ Contributions in relation to the actuarially determined contribution155,413 154,275 150,951 148,034 146,358 142,706 124,391 118,775 102,354 107,068 Contribution deficiency (excess)(155,413)$ (154,275)$ (150,951)$ (148,034)$ (146,358)$ (142,706)$ (124,391)$ (118,775)$ (102,354)$ (107,068)$ Covered ‐ employee payroll‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ Contribution as a percentage of covered ‐ employee payrollN/AN/AN/AN/AN/AN/AN/AN/AN/AN/ANote:Contributions are a portion of State Fire Insurance Premium Taxes.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonRequired Supplementary Information, 5-11
City of Renton
Schedule of Investment Returns
Firefighters' Pension Fund
December 31, 2019
Last 10 Fiscal Years
Fiscal Year
Ending
December 31
Net
Money‐Weighted Rate of
Return
2010 N/A
2011 N/A
2012 N/A
2013 N/A
2014 4.31%
2015 1.42%
2016 1.43%
2017 1.19%
2018 1.26%
2019 3.03%
2019 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5-12
City of RentonSchedule of Changes in Total OPEB Liability and Related RatiosLEOFF 1 Retiree Medical BenefitsLast 10 Fiscal Years$ Thousands2019 2018 2017 2016 2015 2014 2013 2012 2011 2010Total OPEB LiabilityService Cost‐$ ‐ N/A N/A N/A N/A N/A N/A N/A N/AInterest on Total OPEB Liability1,692 1,576 N/A N/A N/A N/A N/A N/A N/A N/AChanges of benefit terms‐ ‐ N/A N/A N/A N/A N/A N/A N/A N/AEffect of Economic/Demographic Gains or (Losses)(2,946) ‐ N/A N/A N/A N/A N/A N/A N/A N/AEffect of Assumption Changes or Inputs(859) (2,764) N/AN/AN/A N/A N/A N/A N/A N/AExpected benefit payments(1,491) (1,586) N/A N/A N/A N/A N/A N/A N/A N/ANet Change in Total OPEB Liability(3,605) (2,774) N/A N/A N/A N/A N/A N/A N/A N/ATotal OPEB Liability ‐ Beginning43,029 45,803 N/A N/A N/A N/A N/A N/A N/A N/ATotal OPEB Liability ‐ Ending (a)39,424$ 43,029$ N/A N/A N/A N/A N/A N/A N/A N/ACovered Payroll‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A N/ATotal OPEB liability as a percentage of covered payrollN/A N/A N/A N/A N/A N/A N/A N/A N/A N/ANotes to schedule:This schedule is presented to illustrate the requirement to show information for 10 years. However, recalculations of prior years are not rquired, and if prior years are not reported inaccordance with the current GASB standards, they should not be reported.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonRequired Supplementary Information, 5-13
Non‐Major Governmental Funds
Capital Project Funds
COMMUNITY DEVELOPMENT IMPACT MITIGATION FUND
Accounts for park impact fees collected from developers as authorized under RCW 82.02.050‐
.110 to offset the cost of system improvements necessary to serve the new development.
TRANSPORTATION IMPACT MITIGATION FUND
Accounts for transportation impact fees collected from developers as authorized under RCW
82.02.050‐.110 to offset the cost of system improvements necessary to serve the new
development.
REET 1 FUND
Accounts for “REET 1” or “first quarter percent” excise taxes imposed upon taxable real estate
sales as authorized under RCW 82.46.010(2). REET 1 revenues are restricted for use on capital
projects that are listed in the capital facilities plan element of the City’s comprehensive plan.
RCW 82.46.010(6) defines “capital projects” as: “Those public works projects of a local
government for planning, acquisition, construction, reconstruction, repair, replacement,
rehabilitation, or improvement of streets, roads, highways, sidewalks, street and road lighting
systems, traffic signals, bridges, domestic water systems, storm and sanitary sewer systems,
parks, recreational facilities, law enforcement facilities, fire protection facilities, trails, libraries,
administrative facilities, judicial facilities, river flood control projects, and technology
infrastructure that is integral to the capital project.
REET 2 FUND
Accounts for “REET 2” or “second quarter percent” excise taxes imposed upon taxable real estate
sales as authorized under RCW 82.46.035. REET 2 revenues are restricted for use on capital
projects that are listed in the capital facilities plan element of the City’s comprehensive plan.
RCW 82.46.035(5) defines “capital projects” as: “Those public works projects of a local
government for planning, acquisition, construction, reconstruction, repair, replacement,
rehabilitation, or improvement of streets, roads, highways, sidewalks, street and road lighting
systems, traffic signals, bridges, domestic water systems, storm and sanitary sewer systems, and
planning, construction, reconstruction, repair, rehabilitation, or improvement of parks.
CAPITAL IMPROVEMENT FUND
The Capital Improvement Fund accounts for the City’s transportation capital projects.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-1
Debt Service Funds
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT SERVICE FUND
This debt service fund accounts for the following outstanding debt issues:
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of
the Benson Hill annexation.
2010 limited tax general obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds for the construction of a downtown parking facility.
2011 limited tax general obligation bonds which funded the development and
construction of 2 new libraries.
2013 limited tax general obligation qualified energy conservation bonds (QECB) which
provided funding for streetlight improvements.
2015 (A&B) limited tax general obligation refunding bonds which refunded a portion of
the 2006 limited tax general obligation bonds for the construction of South Lake
Washington infrastructure improvements.
2019 limited tax general obligation bonds which are funding multiple parks capital
projects.
2019 limited tax general obligation Local Revitalization Funding (LRF) bonds which are
funding transportation capital projects within the South Lake Washington Local
Revitalization Area.
2019 limited tax general obligation refunding bonds which refunded a portion of the 2009
(A & B) intergovernmental debt related to the acquisition, construction, and equipping of
the SCORE facility.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-2
Special Revenue Funds
ARTERIAL STREET FUND
Accounts for the City’s allocation of Motor Vehicle Fuel Tax revenue pursuant to RCW 47.24.040.
Gas taxes received from the state are restricted for construction, improvements, and major
repair of streets. This fund was closed in 2019 as the City maintains other funds that are deemed
to satisfy the statutory requirements of placing the motor vehicle fuel tax in a “designated city
street fund”.
HOTEL/MOTEL TAX FUND
Accounts for monies collected through an increase of 1% in hotel/motel taxes for the purpose of
increasing tourism in the City of Renton, as authorized under RCW 67.28.180.
MUNICIPAL ART FUND
The City of Renton established this fund to account for the activities of the Renton Municipal Arts
Commission, as outlined in Renton Municipal Code (RMC) section 2‐8‐7.
CABLE COMMUNICATIONS DEVELOPMENT FUND
The Cable Communications Development Fund accounts for funding for promotion and
development of cable communications as established by City ordinance.
SPRINGBROOK WETLANDS BANK FUND
The City of Renton established this fund in 2007 for the purpose of providing accounting for the
Springbrook Creek Wetland and Habitat Mitigation Bank project. The fund will receive revenue
by selling Wetlands Credits to third parties and to the City’s internal departments.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-3
Non‐Major Proprietary Funds
Enterprise Funds
AIRPORT FUND
The Airport Fund accounts for revenues and expenses for administration, debt services,
operation, capital improvements, and maintenance of the Renton Municipal Airport and Will
Rodger‐Wily Post Memorial Seaplane Base. Sources of support to the fund are leases, fuel
charges, investment interest, and grant funding as available.
GOLF COURSE FUND
The Golf Course Fund was created after the City acquired the Maplewood Golf Course. The fund
accounts for the operation, maintenance, debt service, and capital improvements of the facility.
Internal Service Funds
EQUIPMENT RENTAL FUND
The Equipment Rental Fund accounts for the costs of maintaining and replacing all City vehicles
and auxiliary equipment. In addition, this fund accounts for the City’s information technology,
facilities and communications costs. All costs, including depreciation, are factors in calculating
the rates that are charged to each user department.
INSURANCE FUND
The Insurance Fund provides accounting for self‐insurance services to all City departments,
including provisions for losses on property, liability, worker’s compensation, unemployment
compensation, and the health care program. Expenses are paid from the Insurance Fund and
rates are charged to departments based on use and/or coverage requirements.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-4
Capital Projects Funds Debt Service Funds Special Revenue Funds
Total Nonmajor
Governmental Funds
ASSETS
Cash & cash equivalents $ 18,174,910 $ 2,962,810 $ 1,518,859 $ 22,656,579
Investments at fair value 6,232,404 1,015,985 520,836 7,769,225
Prepayments ‐ ‐ 7,200 7,200
Receivables, net of allowances:
Customer accounts 250,000 ‐ 20,749 270,749
Accrued interest & penalties 68,805 23,004 7,963 99,772
Due from other funds 2,287,710 ‐ ‐ 2,287,710
Due from other governments 583,914 330,746 59,617 974,277
TOTAL ASSETS $ 27,597,743 $ 4,332,545 $ 2,135,224 $ 34,065,512
LIABILITIES
Accounts payable $ 679,536 $ ‐ $ 62,314 $ 741,850
Retainage payable 43,697 ‐ ‐ 43,697
Unearned revenues ‐ 330,746 ‐ 330,746
TOTAL LIABILITIES 723,233 330,746 62,314 1,116,293
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 76,726 ‐ ‐ 76,726
TOTAL DEFERRED INFLOW OF RESOURCES 76,726 ‐ ‐ 76,726
FUND BALANCES
Restricted 16,705,629 182,622 1,974,035 18,862,286
Committed 8,955,814 ‐ 98,875 9,054,689
Assigned 1,136,341 3,819,177 ‐ 4,955,518
TOTAL FUND BALANCES 26,797,784 4,001,799 2,072,910 32,872,493
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND
FUND BALANCES $ 27,597,743 $ 4,332,545 $ 2,135,224 $ 34,065,512
City of Renton
Combining Governmental Balance Sheet
Nonmajor Governmental Funds
Summary by Fund Type
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-5
Community Development Impact MitigationTransportation Impact MitigationREET1REET2 Capital ImprovementTotal Nonmajor Capital Projects FundsASSETSCash & cash equivalents $ 1,397,028 $ 2,180,265 $ ‐ $ ‐ $ 14,597,617 $ 18,174,910 Investments at fair value 479,058 747,640 ‐ ‐ 5,005,706 6,232,404 Receivables, net of allowances:Customer accounts ‐ ‐ ‐ ‐ 250,000 250,000 Accrued interest & penalties 11,763 15,954 ‐ ‐ 41,088 68,805 Due from other funds ‐ ‐ 1,143,855 1,143,855 ‐ 2,287,710 Due from other governments ‐ ‐ 54,408 54,408 475,098 583,914 TOTAL ASSETS $ 1,887,849 $ 2,943,859 $ 1,198,263 $ 1,198,263 $ 20,369,509 $ 27,597,743 LIABILITIESAccounts payable $ ‐ $ ‐ $ ‐ $ ‐ $ 679,536 $ 679,536 Retainage payable ‐ ‐ ‐ ‐ 43,697 43,697 TOTAL LIABILITIES ‐ ‐ ‐ ‐ 723,233 723,233 DEFERRED INFLOWS OF RESOURCESUnavailable revenues ‐ ‐ ‐ ‐ 76,726 76,726 TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐ ‐ 76,726 76,726 FUND BALANCESRestricted 1,887,849 2,943,859 1,198,263 1,198,263 9,477,395 16,705,629 Committed ‐ ‐ ‐ ‐ 8,955,814 8,955,814 Assigned ‐ ‐ ‐ ‐ 1,136,341 1,136,341 TOTAL FUND BALANCES 1,887,849 2,943,859 1,198,263 1,198,263 19,569,550 26,797,784 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES $ 1,887,849 $ 2,943,859 $ 1,198,263 $ 1,198,263 $ 20,369,509 $ 27,597,743 City of RentonCombining Balance SheetNonmajor Capital Projects Funds December 31, 20192019 Comprehensive Annual Financial ReportCity of Renton, WashingtonCombining Statements & Schedules, 6-6
General Debt
Total Nonmajor Debt
Service Funds
ASSETS
Cash & cash equivalents $ 2,962,810 $ 2,962,810
Investments at fair value 1,015,985 1,015,985
Receivables, net of allowances:
Accrued interest & penalties 23,004 23,004
Due from other governments 330,746 330,746
TOTAL ASSETS $ 4,332,545 $ 4,332,545
LIABILITIES
Unearned revenues $ 330,746 $ 330,746
TOTAL LIABILITIES 330,746 330,746
FUND BALANCES
Restricted 182,622 182,622
Assigned 3,819,177 3,819,177
TOTAL FUND BALANCES 4,001,799 4,001,799
TOTAL LIABILITIES AND FUND BALANCES $ 4,332,545 $ 4,332,545
City of Renton
Combining Balance Sheet
Nonmajor Debt Service Funds
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-7
Hotel/Motel Tax Municipal ArtCable Communications DevelopmentSpringbrook Wetlands BankTotal Nonmajor Special Revenue FundsASSETSCash & cash equivalents $ 738,326 $ 73,289 $ 450,995 $ 256,249 $ 1,518,859 Investments at fair value 253,181 25,132 154,652 87,871 520,836 Prepayments 7,200 ‐ ‐ ‐ 7,200 Receivables, net of allowances:Customer accounts ‐ ‐ 20,749 ‐ 20,749 Accrued interest & penalties 3,358 454 2,550 1,601 7,963 Due from other governments 59,617 ‐ ‐ ‐ 59,617 TOTAL ASSETS $ 1,061,682 $ 98,875 $ 628,946 $ 345,721 $ 2,135,224 LIABILITIESAccounts payable $ 57,989 $ ‐ $ 4,325 $ ‐ $ 62,314 TOTAL LIABILITIES 57,989 ‐ 4,325 ‐ 62,314 FUND BALANCESRestricted 1,003,693 ‐ 624,621 345,721 1,974,035 Committed ‐ 98,875 ‐ ‐ 98,875 TOTAL FUND BALANCES 1,003,693 98,875 624,621 345,721 2,072,910 TOTAL LIABILITIES AND FUND BALANCES $ 1,061,682 $ 98,875 $ 628,946 $ 345,721 $ 2,135,224 City of RentonCombining Balance SheetNonmajor Special Revenue Funds December 31, 20192019 Comprehensive Annual Financial ReportCity of Renton, WashingtonCombining Statements & Schedules, 6-8
Capital Projects Funds Debt Service Funds Special Revenue Funds
Total Nonmajor
Governmental Funds
REVENUES
Taxes $ 3,342,526 $ 2,145,242 $ 571,933 $ 6,059,701
Licenses and permits ‐ ‐ 105,925 105,925
Intergovernmental revenues 1,619,629 564,161 ‐ 2,183,790
Charges for services 2,594,779 ‐ ‐ 2,594,779
Fines and forfeits 55,788 ‐ ‐ 55,788
Contributions 4,962 ‐ 24,000 28,962
Investment earnings 254,436 65,512 27,471 347,419
Miscellaneous revenue 293 ‐ ‐ 293
TOTAL REVENUES 7,872,413 2,774,915 729,329 11,376,657
EXPENDITURES
Current:
Economic environment ‐ ‐ 341,154 341,154
Culture and recreation ‐ ‐ 57,457 57,457
Capital outlay:
Culture and recreation ‐ ‐ 123,813 123,813
Transportation 5,649,266 ‐ ‐ 5,649,266
Debt service:
Principal payment ‐ 5,167,947 ‐ 5,167,947
Interest and fiscal charges ‐ 1,646,927 ‐ 1,646,927
TOTAL EXPENDITURES 5,649,266 6,814,874 522,424 12,986,564
EXCESS (DEFICIENCY) OF REVENUES OVER
EXPENDITURES 2,223,147 (4,039,959) 206,905 (1,609,907)
OTHER FINANCING SOURCES (USES)
Transfer in 7,533,757 5,253,827 102,000 12,889,584
Transfer out (3,590,700) ‐ (267,036) (3,857,736)
Proceeds from long‐term debt 8,784,483 ‐ ‐ 8,784,483
TOTAL OTHER FINANCING SOURCES (USES) 12,727,540 5,253,827 (165,036) 17,816,331
NET CHANGE IN FUND BALANCE 14,950,687 1,213,868 41,869 16,206,424
FUND BALANCE ‐ JANUARY 1 11,847,097 2,787,931 2,031,041 16,666,069
FUND BALANCE ‐ DECEMBER 31 $ 26,797,784 $ 4,001,799 $ 2,072,910 $ 32,872,493
City of Renton
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Governmental Funds
Summary by Fund Type
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-9
Community Development Impact MitigationTransportation Impact MitigationREET1REET2 Capital ImprovementTotal Nonmajor Capital Projects FundsREVENUESTaxes $ ‐ $ ‐ $ 1,198,263 $ 1,198,263 $ 946,000 $ 3,342,526 Intergovernmental revenues ‐ ‐ ‐ ‐ 1,619,629 1,619,629 Charges for services 469,290 1,875,489 ‐ ‐ 250,000 2,594,779 Fines and forfeits ‐ ‐ ‐ ‐ 55,788 55,788 Contributions ‐ ‐ ‐ ‐ 4,962 4,962 Investment earnings 41,423 61,493 ‐ ‐ 151,520 254,436 Miscellaneous revenue ‐ ‐ ‐ ‐ 293 293 TOTAL REVENUES 510,713 1,936,982 1,198,263 1,198,263 3,028,192 7,872,413 EXPENDITURESCapital outlay:Transportation ‐ ‐ ‐ ‐ 5,649,266 5,649,266 TOTAL EXPENDITURES ‐ ‐ ‐ ‐ 5,649,266 5,649,266 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 510,713 1,936,982 1,198,263 1,198,263 (2,621,074) 2,223,147 OTHER FINANCING SOURCES (USES)Transfer in ‐ ‐ ‐ ‐ 7,533,757 7,533,757 Transfer out (1,200,000) (2,324,200) ‐ ‐ (66,500) (3,590,700)Proceeds from long‐term debt ‐ ‐ ‐ ‐ 8,784,483 8,784,483 TOTAL OTHER FINANCING SOURCES (USES) (1,200,000) (2,324,200) ‐ ‐ 16,251,740 12,727,540 NET CHANGE IN FUND BALANCE (689,287) (387,218) 1,198,263 1,198,263 13,630,666 14,950,687 FUND BALANCE ‐ JANUARY 1 2,577,136 3,331,077 ‐ ‐ 5,938,884 11,847,097 FUND BALANCE ‐ DECEMBER 31 $ 1,887,849 $ 2,943,859 $ 1,198,263 $ 1,198,263 $ 19,569,550 $ 26,797,784 City of RentonCombining Statement of Revenues, Expenditures, and Changes in Fund BalancesNonmajor Capital Projects FundsFor the Year Ended December 31, 20192019 Comprehensive Annual Financial ReportCity of Renton, WashingtonCombining Statements & Schedules, 6-10
General Debt
Total Nonmajor Debt
Service Funds
REVENUES
Taxes $ 2,145,242 $ 2,145,242
Intergovernmental revenues 564,161 564,161
Investment earnings 65,512 65,512
TOTAL REVENUES 2,774,915 2,774,915
EXPENDITURES
Debt service:
Principal payment 5,167,947 5,167,947
Interest and fiscal charges 1,646,927 1,646,927
TOTAL EXPENDITURES 6,814,874 6,814,874
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (4,039,959) (4,039,959)
OTHER FINANCING SOURCES (USES)
Transfer in 5,253,827 5,253,827
TOTAL OTHER FINANCING SOURCES (USES) 5,253,827 5,253,827
NET CHANGE IN FUND BALANCE 1,213,868 1,213,868
FUND BALANCE ‐ JANUARY 1 2,787,931 2,787,931
FUND BALANCE ‐ DECEMBER 31 $ 4,001,799 $ 4,001,799
City of Renton
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Debt Service Funds
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-11
Arterial Street Hotel/Motel Tax Municipal ArtCable Communications DevelopmentSpringbrook Wetlands BankTotal Nonmajor Special Revenue FundsREVENUESTaxes $ ‐ $ 531,933 $ ‐ $ 40,000 $ ‐ $ 571,933 Licenses and permits ‐ ‐ ‐ 105,925 ‐ 105,925 Contributions ‐ 24,000 ‐ ‐ ‐ 24,000 Investment earnings ‐ 12,569 1,295 8,633 4,974 27,471 TOTAL REVENUES ‐ 568,502 1,295 154,558 4,974 729,329 EXPENDITURESCurrent:Economic environment ‐ 341,154 ‐ ‐ ‐ 341,154 Culture and recreation ‐ ‐ ‐ 57,457 ‐ 57,457 Capital outlay:Culture and recreation ‐ ‐ 123,813 ‐ ‐ 123,813 TOTAL EXPENDITURES ‐ 341,154 123,813 57,457 ‐ 522,424 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ‐ 227,348 (122,518) 97,101 4,974 206,905 OTHER FINANCING SOURCES (USES)Transfer in ‐ ‐ 102,000 ‐ ‐ 102,000 Transfer out (267,036) ‐ ‐ ‐ ‐ (267,036)TOTAL OTHER FINANCING SOURCES (USES) (267,036) ‐ 102,000 ‐ ‐ (165,036)NET CHANGE IN FUND BALANCE (267,036) 227,348 (20,518) 97,101 4,974 41,869 FUND BALANCE ‐ JANUARY 1 267,036 776,345 119,393 527,520 340,747 2,031,041 FUND BALANCE ‐ DECEMBER 31 $ ‐ $ 1,003,693 $ 98,875 $ 624,621 $ 345,721 $ 2,072,910 City of RentonCombining Statement of Revenues, Expenditures, and Changes in Fund BalancesNonmajor Special Revenue FundsFor the Year Ended December 31, 20192019 Comprehensive Annual Financial ReportCity of Renton, WashingtonCombining Statements & Schedules, 6-12
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 1,373,000 $ ‐ $ 610,295 $ 610,295
Intergovernmental revenues ‐ 3,486,901 866,532 (2,620,369)
Charges for services ‐ ‐ 10,643 10,643
Fines and forfeits ‐ ‐ 4,340 4,340
Contributions ‐ 78,500 ‐ (78,500)
Interest revenue ‐ 13,600 423,885 410,285
Total revenues 1,373,000 3,579,001 1,915,694 (1,663,307)
EXPENDITURES
Current:
General government 148,250 148,250 130,040 18,210
Economic environment ‐ 332,000 ‐ 332,000
Culture and recreation 771,357 1,112,933 702,891 410,043
Total current 919,607 1,593,183 832,930 760,253
Capital outlay:
General government 2,651,750 9,187,236 5,453,278 3,733,958
Public safety ‐ 1,987,950 994,961 992,989
Economic environment ‐ ‐ ‐ ‐
Culture and recreation 3,320,000 25,259,165 3,154,902 22,104,263
Total capital outlay 5,971,750 36,434,351 9,603,142 26,831,209
Total expenditures 6,891,357 38,027,534 10,436,072 27,591,463
Excess (deficiency) of revenues over expenditures (5,518,357) (34,448,533) (8,520,378) 25,928,156
OTHER FINANCING SOURCES (USES)
Transfer in 4,256,000 2,077,000 1,200,000 (877,000)
Transfers out ‐ (1,924,971) (1,924,971) ‐
Proceeds from long‐term debt ‐ 14,654,369 14,654,369 ‐
Sale of capital assets ‐ 160,000 180,000 20,000
Total other financing sources (uses) 4,256,000 14,966,398 14,109,398 (857,000)
Net change in fund balances (1,262,357) (19,482,136) 5,589,020 25,071,156
FUND BALANCE ‐ JANUARY 1 2,660,523 20,675,238 22,009,023 1,333,785
FUND BALANCE ‐ DECEMBER 31 $ 1,398,166 $ 1,193,102 $ 27,598,043 $ 26,404,941
Budgeted Amounts
City of Renton
Municipal Facilities CIP
Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-13
Variance with
Original Final Actual Final Budget
REVENUES
Interest revenue $ ‐ $ 21,500 $ 38,882 $ 17,382
Total revenues ‐ 21,500 38,882 17,382
EXPENDITURES
Current:
Economic environment ‐ 68,900 49,139 19,761
Total expenditures ‐ 68,900 49,139 19,761
Excess (deficiency) of revenues over expenditures ‐ (47,400) (10,257) 37,143
OTHER FINANCING SOURCES (USES)
Total other financing sources (uses) ‐ ‐ ‐ ‐
Net change in fund balances ‐ (47,400) (10,257) 37,143
FUND BALANCE ‐ JANUARY 1 2,548,975 2,582,203 2,581,083 (1,120)
FUND BALANCE ‐ DECEMBER 31 $ 2,548,975 $ 2,534,803 $ 2,570,826 $ 36,023
Budgeted Amounts
City of Renton
Municipal Facilities CIP ‐ Housing Opportunity/Economic Development Revolving Fund
Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-14
Variance with
Original Final Actual Final Budget
REVENUES
Contributions $ ‐ $ 75,000 $ ‐ $ (75,000)
Interest revenue ‐ ‐ 61,855 61,855
Total revenues ‐ 75,000 61,855 (13,145)
EXPENDITURES
Current:
Culture and recreation ‐ 23,185 30,082 (6,897)
Total current ‐ 23,185 30,082 (6,897)
Capital outlay:
Culture and recreation ‐ 1,366,453 710,608 655,845
Total expenditures ‐ 1,389,638 740,690 648,948
Excess (deficiency) of revenues over expenditures ‐ (1,314,638) (678,835) 635,803
OTHER FINANCING SOURCES (USES)
Transfer in ‐ 5,000,000 5,000,000 ‐
Total other financing sources (uses) ‐ 5,000,000 5,000,000 ‐
Net change in fund balances ‐ 3,685,362 4,321,165 635,803
FUND BALANCE ‐ JANUARY 1 ‐ 4,193,806 4,229,475 35,669
FUND BALANCE ‐ DECEMBER 31 $ ‐ $ 7,879,168 $ 8,550,640 $ 671,472
Budgeted Amounts
City of Renton
Municipal Facilities CIP ‐ New Family First Center Development
Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-15
Variance with
Original Final Actual Final Budget
REVENUES
Interest revenue $ ‐ $ ‐ $ 5,800 $ 5,800
Total revenues ‐ ‐ 5,800 5,800
EXPENDITURES
Total expenditures ‐ ‐ ‐ ‐
Excess (deficiency) of revenues over expenditures ‐ ‐ 5,800 5,800
OTHER FINANCING SOURCES (USES)
Transfers out ‐ (445,591) (445,591) ‐
Total other financing sources (uses) ‐ (445,591) (445,591) ‐
Net change in fund balances ‐ (445,591) (439,791) 5,800
FUND BALANCE ‐ JANUARY 1 451,093 456,591 456,394 (197)
FUND BALANCE ‐ DECEMBER 31 $ 451,093 $ 11,000 $ 16,603 $ 5,603
Budgeted Amounts
City of Renton
Municipal Facilities CIP ‐ New Library Development
Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-16
Variance with
Original Final Actual Final Budget
REVENUES
Charges for services $ 86,500 $ 86,500 $ 469,290 $ 382,790
Interest revenue ‐ ‐ 41,423 41,423
Total revenues 86,500 86,500 510,713 424,213
EXPENDITURES
Total expenditures ‐ ‐ ‐ ‐
Excess (deficiency) of revenues over expenditures 86,500 86,500 510,713 424,213
OTHER FINANCING SOURCES (USES)
Transfers out (1,629,000) (1,200,000) (1,200,000) ‐
Total other financing sources (uses) (1,629,000) (1,200,000) (1,200,000) ‐
Net change in fund balances (1,542,500) (1,113,500) (689,287) 424,213
FUND BALANCE ‐ JANUARY 1 2,226,393 2,578,256 2,577,136 (1,120)
FUND BALANCE ‐ DECEMBER 31 $ 683,893 $ 1,464,756 $ 1,887,849 $ 423,093
Budgeted Amounts
City of Renton
Community Development Impact Mitigation
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-17
Variance with
Original Final Actual Final Budget
REVENUES
Charges for services $ 1,020,000 $ 1,020,000 $ 1,875,489 $ 855,489
Interest revenue ‐ ‐ 61,493 61,493
Total revenues 1,020,000 1,020,000 1,936,982 916,982
EXPENDITURES
Total expenditures ‐ ‐ ‐ ‐
Excess (deficiency) of revenues over expenditures 1,020,000 1,020,000 1,936,982 916,982
OTHER FINANCING SOURCES (USES)
Transfers out (500,000) (2,324,200) (2,324,200) ‐
Total other financing sources (uses) (500,000) (2,324,200) (2,324,200) ‐
Net change in fund balances 520,000 (1,304,200) (387,218) 916,982
FUND BALANCE ‐ JANUARY 1 3,332,525 3,332,525 3,331,077 (1,448)
FUND BALANCE ‐ DECEMBER 31 $ 3,852,525 $ 2,028,325 $ 2,943,859 $ 915,534
Budgeted Amounts
City of Renton
Transportation Impact Mitigation
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-18
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 2,000,000 $ ‐ $ 946,000 $ 946,000
Intergovernmental revenues 15,995,708 20,850,729 1,619,629 (19,231,100)
Charges for services ‐ ‐ 250,000 250,000
Fines and forfeits ‐ ‐ 55,788 55,788
Contributions 2,000,000 2,000,000 4,962 (1,995,038)
Interest revenue ‐ ‐ 151,520 151,520
Miscellaneous revenue ‐ ‐ 293 293
Total revenues 19,995,708 22,850,729 3,028,192 (19,822,537)
EXPENDITURES
Capital outlay:
Transportation 21,190,208 43,645,773 5,649,266 37,996,507
Total capital outlay 21,190,208 43,645,773 5,649,266 37,996,507
Total expenditures 21,190,208 43,645,773 5,649,266 37,996,507
Excess (deficiency) of revenues over expenditures (1,194,500) (20,795,044) (2,621,074) 18,173,970
OTHER FINANCING SOURCES (USES)
Transfer in 1,700,000 8,479,757 7,533,757 (946,000)
Transfers out (15,000) (66,500) (66,500) ‐
Proceeds from long‐term debt ‐ 8,784,483 8,784,483 ‐
Total other financing sources (uses) 1,685,000 17,197,740 16,251,740 (946,000)
Net change in fund balances 490,500 (3,597,304) 13,630,666 17,227,970
FUND BALANCE ‐ JANUARY 1 1,141,331 5,492,313 5,938,884 446,571
FUND BALANCE ‐ DECEMBER 31 $ 1,631,831 $ 1,895,009 $ 19,569,550 $ 17,674,541
Budgeted Amounts
City of Renton
Capital Improvement
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-19
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 6,119,592 $ ‐ $ 2,145,242 $ 2,145,242
Intergovernmental revenues 435,314 435,314 564,161 128,847
Interest revenue ‐ ‐ 65,512 65,512
Total revenues 6,554,906 435,314 2,774,915 2,339,601
EXPENDITURES
Debt service:
Principal payment 5,717,947 6,267,947 5,167,947 1,100,000
Interest and fiscal charges 1,075,721 1,646,989 1,646,927 62
Total debt service 6,793,668 7,914,936 6,814,874 1,100,062
Total expenditures 6,793,668 7,914,936 6,814,874 1,100,062
Excess (deficiency) of revenues over expenditures (238,762) (7,479,622) (4,039,959) 3,439,663
OTHER FINANCING SOURCES (USES)
Transfer in 128,576 8,009,403 5,253,827 (2,755,576)
Total other financing sources (uses) 128,576 8,009,403 5,253,827 (2,755,576)
Net change in fund balances (110,186) 529,781 1,213,868 684,087
FUND BALANCE ‐ JANUARY 1 2,254,249 2,307,171 2,787,931 480,760
FUND BALANCE ‐ DECEMBER 31 $ 2,144,063 $ 2,836,952 $ 4,001,799 $ 1,164,847
Budgeted Amounts
City of Renton
General Debt
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-20
Variance with
Original Final Actual Final Budget
REVENUES
Intergovernmental revenues $ 700,000 $ 103,365 $ ‐ $ (103,365)
Total revenues 700,000 103,365 ‐ (103,365)
EXPENDITURES
Total expenditures ‐ ‐ ‐ ‐
Excess (deficiency) of revenues over expenditures 700,000 103,365 ‐ (103,365)
OTHER FINANCING SOURCES (USES)
Transfers out (700,000) (267,036) (267,036) ‐
Total other financing sources (uses) (700,000) (267,036) (267,036) ‐
Net change in fund balances ‐ (163,671) (267,036) (103,365)
FUND BALANCE ‐ JANUARY 1 108,438 163,671 267,036 103,365
FUND BALANCE ‐ DECEMBER 31 $ 108,438 $ ‐ $ ‐ $ ‐
Budgeted Amounts
City of Renton
Arterial Street
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-21
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 200,000 $ 200,000 $ 531,933 $ 331,933
Contributions ‐ 25,000 24,000 (1,000)
Interest revenue ‐ ‐ 12,569 12,569
Total revenues 200,000 225,000 568,502 343,502
EXPENDITURES
Current:
Economic environment ‐ 444,647 341,154 103,493
Total current ‐ 444,647 341,154 103,493
Total expenditures ‐ 444,647 341,154 103,493
Excess (deficiency) of revenues over expenditures 200,000 (219,647) 227,348 446,995
OTHER FINANCING SOURCES (USES)
Total other financing sources (uses) ‐ ‐ ‐ ‐
Net change in fund balances 200,000 (219,647) 227,348 446,995
FUND BALANCE ‐ JANUARY 1 351,805 722,389 776,345 53,956
FUND BALANCE ‐ DECEMBER 31 $ 551,805 $ 502,742 $ 1,003,693 $ 500,951
Budgeted Amounts
City of Renton
Hotel/Motel Tax
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-22
Variance with
Original Final Actual Final Budget
REVENUES
Interest revenue $ ‐ $ ‐ $ 1,295 $ 1,295
Total revenues ‐ ‐ 1,295 1,295
EXPENDITURES
Capital outlay:
Culture and recreation 15,000 204,683 123,813 80,870
Total capital outlay 15,000 204,683 123,813 80,870
Total expenditures 15,000 204,683 123,813 80,870
Excess (deficiency) of revenues over expenditures (15,000) (204,683) (122,518) 82,165
OTHER FINANCING SOURCES (USES)
Transfer in 15,000 102,000 102,000 ‐
Total other financing sources (uses) 15,000 102,000 102,000 ‐
Net change in fund balances ‐ (102,683) (20,518) 82,165
FUND BALANCE ‐ JANUARY 1 64,426 119,445 119,393 (52)
FUND BALANCE ‐ DECEMBER 31 $ 64,426 $ 16,762 $ 98,875 $ 82,113
Budgeted Amounts
City of Renton
Municipal Art
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-23
Variance with
Original Final Actual Final Budget
REVENUES
Taxes $ 40,000 $ 40,000 $ 40,000 $ ‐
Licenses and permits 57,674 57,674 105,925 48,251
Interest revenue ‐ ‐ 8,633 8,633
Total revenues 97,674 97,674 154,558 56,884
EXPENDITURES
Current:
Culture and recreation 57,674 65,674 57,457 8,217
Total current 57,674 65,674 57,457 8,217
Capital outlay:
Culture and recreation 40,000 40,000 ‐ 40,000
Total capital outlay 40,000 40,000 ‐ 40,000
Total expenditures 97,674 105,674 57,457 48,217
Excess (deficiency) of revenues over expenditures ‐ (8,000) 97,101 105,101
OTHER FINANCING SOURCES (USES)
Total other financing sources (uses) ‐ ‐ ‐ ‐
Net change in fund balances ‐ (8,000) 97,101 105,101
FUND BALANCE ‐ JANUARY 1 472,489 529,159 527,520 (1,639)
FUND BALANCE ‐ DECEMBER 31 $ 472,489 $ 521,159 $ 624,621 $ 103,462
Budgeted Amounts
City of Renton
Cable Communications Development
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-24
Variance with
Original Final Actual Final Budget
REVENUES
Interest revenue $ ‐ $ ‐ $ 4,974 $ 4,974
Total revenues ‐ ‐ 4,974 4,974
EXPENDITURES
Total expenditures ‐ ‐ ‐ ‐
Excess (deficiency) of revenues over expenditures ‐ ‐ 4,974 4,974
OTHER FINANCING SOURCES (USES)
Total other financing sources (uses) ‐ ‐ ‐ ‐
Net change in fund balances ‐ ‐ 4,974 4,974
FUND BALANCE ‐ JANUARY 1 336,528 340,895 340,747 (148)
FUND BALANCE ‐ DECEMBER 31 $ 336,528 $ 340,895 $ 345,721 $ 4,826
Budgeted Amounts
City of Renton
Springbrook Wetlands Bank
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-25
Airport Golf Course
Total Nonmajor
Enterprise Funds
ASSETS
Current assets:
Cash & cash equivalents $ 4,739,867 $ 377,456 $ 5,117,323
Investments at fair value 1,625,291 128,748 1,754,039
Receivables (net of allowances):
Customer accounts 198,135 21,555 219,690
Interest & penalties 22,369 1,886 24,255
Supplies inventory ‐ 92,302 92,302
Total current assets 6,585,662 621,947 7,207,609
Noncurrent assets:
Capital assets not being depreciated:
Land 784,080 2,683,200 3,467,280
Construction in Progress 484,379 ‐ 484,379
Capital assets being depreciated/amortized:
Capital assets (net) 17,853,790 4,127,761 21,981,551
Total noncurrent assets 19,122,249 6,810,961 25,933,210
TOTAL ASSETS 25,707,911 7,432,908 33,140,819
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pensions 88,643 97,910 186,553
TOTAL DEFERRED OUTFLOWS OF RESOURCES 88,643 97,910 186,553
LIABILITIES
Current liabilities:
Accounts payable 173,595 26,091 199,686
Retainage payable 2,513 ‐ 2,513
Due to other funds 332 ‐ 332
Accrued wages and benefits payable 45,136 55,626 100,762
Taxes payable 869 6,191 7,060
Custodial accounts ‐ 325,499 325,499
Unearned revenue 188,936 ‐ 188,936
Compensated absences payable 20,630 72,615 93,245
Total current liabilities 432,011 486,022 918,033
Noncurrent liabilities:
Compensated absences payable 6,825 28,865 35,690
Net pension liability 300,360 331,761 632,121
Total noncurrent liabilities 307,185 360,626 667,811
TOTAL LIABILITIES 739,196 846,648 1,585,844
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions 177,452 196,003 373,455
TOTAL DEFERRED INFLOWS OF RESOURCES 177,452 196,003 373,455
NET POSITION
Net investment in capital assets 19,122,249 6,810,961 25,933,210
Unrestricted 5,757,657 (322,794) 5,434,863
TOTAL NET POSITION $ 24,879,906 $ 6,488,167 $ 31,368,073
City of Renton
Combining Statement of Net Position
Nonmajor Enterprise Funds
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-26
Airport Golf Course Total Enterprise Funds
OPERATING REVENUES
Charges for services $ 270,914 $ 1,941,162 $ 2,212,076
Miscellaneous revenue 2,906,384 456,634 3,363,018
TOTAL OPERATING REVENUES 3,177,298 2,397,796 5,575,094
OPERATING EXPENSES
Supplies 58,318 318,098 376,416
Personnel services 1,238,979 1,609,124 2,848,103
Contracted services 847,247 294,194 1,141,441
Taxes 5,249 11,588 16,837
Depreciation and amortization 1,120,324 209,176 1,329,500
TOTAL OPERATING EXPENSES 3,270,117 2,442,180 5,712,297
OPERATING INCOME (LOSS) (92,819) (44,384) (137,203)
NONOPERATING REVENUES (EXPENSES)
Intergovernmental revenues 143,030 ‐ 143,030
Interest revenue 83,608 6,590 90,198
Other non‐operating revenue (expenses) 11,995 2,169 14,164
TOTAL NONOPERATING REVENUES (EXPENSES) 238,633 8,759 247,392
INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS 145,814 (35,625) 110,189
Transfers in 47,500 ‐ 47,500
Transfers out (6,000) (3,443) (9,443)
CHANGE IN NET POSITION 187,314 (39,068) 148,246
NET POSITION ‐ JANUARY 1 24,692,592 6,527,235 31,219,827
NET POSITION ‐ DECEMBER 31 $ 24,879,906 $ 6,488,167 $ 31,368,073
City of Renton
Combining Statement of Revenues, Expenditures, and Changes in Net Position
Enterprise Funds
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-27
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services 3,160,924$ 2,414,868$ 5,575,792$
Cash paid to suppliers for goods & services (860,888) (690,755) (1,551,643)
Cash paid to employees (1,198,810) (1,619,623) (2,818,433)
Other non‐operating receipts 11,995 2,169 14,164
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 1,113,221 106,659 1,219,880
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 47,500 ‐ 47,500
Transfers to other funds (6,000) (3,443) (9,443)
Operating grants 198,148 ‐ 198,148
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 239,648 (3,443) 236,205
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Acquisition & construction of capital assets (142,763) (61,900) (204,663)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (142,763) (61,900) (204,663)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for investments (773,398) (52,044) (825,442)
Interest on investments 74,074 5,524 79,598
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES (699,324) (46,520) (745,844)
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 510,782 (5,204) 505,578
CASH & CASH EQUIVALENTS, JANUARY 1 4,229,085 382,660 4,611,745
CASH & CASH EQUIVALENTS, DECEMBER 31 4,739,867$ 377,456$ 5,117,323$
City of Renton
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
Combining Statement of Cash Flows
Non‐Major Enterprise Funds
For the Year Ended December 31, 2019
Page 1 of 2
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-28
TOTAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss)(92,819)$ (44,384)$ (137,203)$
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 1,120,324 209,176 1,329,500
Other non‐operating revenue 11,995 2,169 14,164
(Increase) decrease in
accounts receivable (20,676) (11,057) (31,733)
(Increase) decrease in
due from other funds ‐ 13,033 13,033
(Increase) decrease in inventory
& prepaid items ‐ (33,306) (33,306)
(Increase) decrease in deferred outflows
related to pensions (27,936) (20,028) (47,964)
Increase (decrease) in operating
accounts payable 49,986 (33,578) 16,408
Increase (decrease) in accrued taxes
& other short‐term liabilities (60) 9 (51)
Increase (decrease) in
customer deposits ‐ 15,096 15,096
Increase (decrease) in
unearned revenues 4,302 ‐ 4,302
Increase (decrease) in accrued
employee leave benefits 2,347 10,397 12,744
Increase (decrease) in net pension liability
and deferred inflows related to pensions 65,758 (868) 64,890
Total adjustments 1,206,040 151,043 1,357,083
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 1,113,221$ 106,659$ 1,219,880$
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Depreciation & amortization 1,120,324$ 209,176$ 1,329,500$
Increase (decrease) in fair value of investments 242$ (43)$ 199$
City of Renton
ENTERPRISE FUNDS
BUSINESS‐TYPE ACTIVITIES
Combining Statement of Cash Flows
Non‐Major Enterprise Funds
For the Year Ended December 31, 2019
Page 2 of 2
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-29
Equipment Rental Insurance
Total Nonmajor
Internal Service Funds
ASSETS
Current assets:
Cash & cash equivalents $ 10,384,338 $ 29,723,480 $ 40,107,818
Investments at fair value 3,560,920 10,192,555 13,753,475
Receivables (net of allowances):
Customer accounts 16,797 27,740 44,537
Interest & penalties 55,421 171,108 226,529
Interfund loans ‐ 175,000 175,000
Supplies inventory 183,965 ‐ 183,965
Prepayments ‐ 213,660 213,660
Total current assets 14,201,441 40,503,543 54,704,984
Noncurrent assets:
Capital assets being depreciated/amortized:
Capital assets (net) 13,677,217 ‐ 13,677,217
Intangible assets (net) 495,077 ‐ 495,077
Total noncurrent assets 14,172,294 ‐ 14,172,294
TOTAL ASSETS 28,373,735 40,503,543 68,877,278
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pensions 536,289 55,200 591,489
TOTAL DEFERRED OUTFLOWS OF RESOURCES 536,289 55,200 591,489
LIABILITIES
Current liabilities:
Accounts payable 540,342 128,660 669,002
Claims incurred but not reported ‐ 2,190,622 2,190,622
Retainage payable 2,729 ‐ 2,729
Accrued wages and benefits payable 305,388 27,460 332,848
Taxes payable 120,337 ‐ 120,337
Compensated absences payable 286,578 29,211 315,789
Leases payable 2,605 ‐ 2,605
Total current liabilities 1,257,979 2,375,953 3,633,932
Noncurrent liabilities:
Compensated absences payable 108,055 11,759 119,814
Net pension liability 1,817,178 187,042 2,004,220
OPEB Liability ‐ 39,424,016 39,424,016
Total noncurrent liabilities 1,925,233 39,622,817 41,548,050
TOTAL LIABILITIES 3,183,212 41,998,770 45,181,982
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions 1,073,583 110,504 1,184,087
TOTAL DEFERRED INFLOWS OF RESOURCES 1,073,583 110,504 1,184,087
NET POSITION
Net investment in capital assets 14,169,689 ‐ 14,169,689
Unrestricted 10,483,540 (1,550,531) 8,933,009
TOTAL NET POSITION $ 24,653,229 $ (1,550,531) $ 23,102,698
City of Renton
Combining Statement of Net Position
Nonmajor Internal Service Funds
December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-30
Equipment Rental Insurance
Total Internal Service
Funds
OPERATING REVENUES
Charges for services $ 17,864,840 $ 16,978,842 $ 34,843,682
Miscellaneous revenue 316,798 ‐ 316,798
TOTAL OPERATING REVENUES 18,181,638 16,978,842 35,160,480
OPERATING EXPENSES
Supplies 2,682,863 13,579 2,696,442
Personnel services 6,970,319 760,675 7,730,994
Contracted services 4,813,363 892,692 5,706,055
Insurance ‐ 8,713,319 8,713,319
Taxes 9,742 2,744 12,486
Depreciation and amortization 2,869,275 ‐ 2,869,275
TOTAL OPERATING EXPENSES 17,345,562 10,383,009 27,728,571
OPERATING INCOME (LOSS) 836,076 6,595,833 7,431,909
NONOPERATING REVENUES (EXPENSES)
Intergovernmental revenues ‐ 35,898 35,898
Interest revenue 176,295 569,377 745,672
Gain (loss) on capital assets 43,698 ‐ 43,698
Other non‐operating revenue (expenses) 5,668 56,416 62,084
Interest expense (636) ‐ (636)
Insurance Recoveries ‐ 133,004 133,004
TOTAL NONOPERATING REVENUES (EXPENSES) 225,025 794,695 1,019,720
INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS 1,061,101 7,390,528 8,451,629
Transfers in 2,240,387 ‐ 2,240,387
Transfers out (12,714) (900,000) (912,714)
CHANGE IN NET POSITION 3,288,774 6,490,528 9,779,302
NET POSITION ‐ JANUARY 1 21,364,455 (8,041,059) 13,323,396
NET POSITION ‐ DECEMBER 31 $ 24,653,229 $ (1,550,531) $ 23,102,698
City of Renton
Combining Statement of Revenues, Expenditures, and Changes in Net Position
Internal Service Funds
For the Year Ended December 31, 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-31
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from other funds for services $ 18,200,801 $ 16,977,809 $ 35,178,610
Cash paid to suppliers for goods & services (7,312,374) (12,857,765) (20,170,139)
Cash paid to employees (7,384,969) (769,700) (8,154,669)
Other non‐operating receipts 5,668 189,420 195,088
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 3,509,126 3,539,764 7,048,890
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 2,240,387 ‐ 2,240,387
Transfers to other funds (12,714) (900,000) (912,714)
Operating grants ‐ 35,898 35,898
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 2,227,673 (864,102) 1,363,571
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment 57,551 ‐ 57,551
Acquisition & construction of capital assets (4,903,382) ‐ (4,903,382)
Principal payments on capital leases (33,244) ‐ (33,244)
Interest payments on capital leases (636) ‐ (636)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (4,879,711) ‐ (4,879,711)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for interfund loans ‐ 175,000 175,000
Payments for investments (1,389,789) (4,070,853) (5,460,642)
Interest on investments and loans 164,212 528,639 692,851
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES (1,225,577) (3,367,214) (4,592,791)
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS (368,489) (691,552) (1,060,041)
CASH & CASH EQUIVALENTS, JANUARY 1 10,752,827 30,415,032 41,167,859
CASH & CASH EQUIVALENTS, DECEMBER 31 $ 10,384,338 $ 29,723,480 $ 40,107,818
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended December 31, 2019
Page 1 of 2
City of Renton
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-32
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss)836,076$ 6,595,833$ 7,431,909$
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 2,869,275 ‐ 2,869,275
Other non‐operating revenue 5,668 189,420 195,088
(Increase) decrease in
accounts receivable 19,163 (1,033) 18,130
(Increase) decrease in inventory
& prepaid items 32,349 (40,904) (8,555)
(Increase) decrease in deferred outflows
related to pensions (59,243) (10,033) (69,276)
Increase (decrease) in operating
accounts payable 43,038 46,360 89,398
Increase (decrease) in accrued taxes
& other short‐term liabilities 118,207 363,772 481,979
Increase (decrease) in
OPEB liability ‐ (3,604,659) (3,604,659)
Increase (decrease) in accrued
employee wages and benefits (8,160) 10,041 1,881
Increase (decrease) in net pension liability
and deferred inflows related to pensions (347,247) (9,033) (356,280)
Total adjustments 2,673,050 (3,056,069) (383,019)
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 3,509,126$ 3,539,764$ 7,048,890$
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Depreciation & amortization 2,869,275$ ‐$ 2,869,275$
Increase (decrease) in fair value of investments 5,629$ 3,554$ 9,183$
For the Year Ended December 31, 2019
Combining Statement of Cash Flows
Internal Service Funds
Page 2 of 2
City of Renton
2019 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6-33
STATISTICAL SECTION
December 31, 2019
Presentations included in the Statistical Section of the Comprehensive Annual Financial Report (CAFR)
provide users detailed information as a context for understanding what the information in the
financial statements, note disclosures and the supporting schedules say about the government’s
overall financial health. The section is divided into five categories based on the following:
FINANCIAL TRENDS
These schedules contain trend information to help the reader understand how the government’s
financial performance and well‐being have changed over time.
REVENUE CAPACITY
These schedules present information to help the reader assess the government’s most significant local
revenue source – property tax.
DEBT CAPACITY
These schedules present information to help the reader assess the affordability of the government’s
current levels of outstanding debt and the government’s ability to issue additional debt in the future.
DEMOGRAPHIC AND ECONOMIC INFORMATION
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the government’s financial activities take place.
OPERATING INFORMATION
These schedules contain service and infrastructure data to help the reader understand how the
information in the government’s financial report relates to the services the government provides and
the activities it performs.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-1
TABLE 1NET POSITION BY COMPONENTLAST TEN FISCAL YEARS(accrual basis of accounting)2010201120122013201420152016201720182019Governmental activitiesNet investment in capital assets383,016,494$ 373,641,842$ 425,581,342$ 445,277,657$ 457,337,430$ 467,609,532$ 453,278,699$ 466,996,814$ 473,667,290$ 478,173,369$ Restricted11,664,101 26,432,127 7,953,634 23,873,159 18,973,294 26,987,147 18,939,968 31,304,501 36,805,133 61,745,083 Unrestricted45,911,214 53,244,297 54,159,950 41,681,336 57,074,155 50,203,343 61,174,111 77,331,398 67,657,377 74,778,751 Total governmental activities net position440,591,809$ 453,318,266$ 487,694,926$ 440,591,809$ 453,318,266$ 544,800,022$ 533,392,778$ 575,632,713$ 578,129,800$ 614,697,203$ Business‐type activitiesNet investment in capital assets214,001,083$ 217,103,722$ 224,893,271$ 241,679,585$ 255,631,135$ 271,016,825$ 279,506,339$ 281,531,560$ 285,507,078$ 293,076,667$ Restricted58,747 ‐ 2,909,578 2,909,578 2,909,578 2,909,578 2,909,578 2,810,145 2,810,145 2,810,145 Unrestricted17,743,107 23,340,910 28,692,024 34,537,714 41,941,669 51,330,478 63,236,920 72,699,879 84,471,108 90,300,915 Total business‐type activities net position231,802,937$ 240,444,632$ 256,494,873$ 231,802,937$ 240,444,632$ 325,256,881$ 345,652,837$ 357,041,584$ 372,788,331$ 386,187,727$ Primary governmentNet investment in capital assets597,017,577$ 590,745,564$ 686,957,242$ 686,957,242$ 712,968,565$ 738,626,357$ 732,785,038$ 748,528,374$ 759,174,368$ 771,250,036$ Restricted11,722,848 26,432,127 26,782,737 26,782,737 21,882,872 29,896,725 21,849,546 34,114,646 39,615,278 64,555,228 Unrestricted63,654,321 76,585,207 76,219,050 76,219,050 99,015,824 101,533,821 124,411,031 150,031,277 152,128,485 165,079,666 Total primary government net position672,394,746$ 693,762,898$ 789,959,029$ 672,394,746$ 693,762,898$ 870,056,903$ 879,045,615$ 932,674,297$ 950,918,131$ 1,000,884,930$ Source : City of Renton Finance DivisionFiscal Year2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-2
TABLE 2CHANGES IN NET POSITIONLAST TEN FISCAL YEARS(accrual basis of accounting)Page 1 of 2EXPENSES2010201120122013201420152016201720182019Government activities:General government10,018,501$ 4,268,321$ 9,859,550$ 10,923,530$ 10,928,669$ 9,829,338$ 10,230,923$ 11,619,780$ 11,693,087$ 13,188,036$ Judicial2,402,692 2,563,989 2,610,481 2,372,115 2,406,797 2,342,557 2,501,487 2,631,350 2,612,931 3,036,172 Public safety50,657,146 52,627,849 58,152,773 53,930,214 55,143,750 57,863,131 49,272,668 34,970,381 35,406,820 34,493,076 Utilities2,425,279 2,151,322 2,643,930 964,942 746,363 694,469 691,798 686,356 675,076 270,397 Transportation16,903,492 25,376,308 13,571,691 18,842,487 14,641,476 15,918,953 19,560,699 18,369,818 18,828,845 20,091,069 Economic and natural environment7,363,396 6,491,151 6,330,233 7,146,022 6,584,984 7,362,822 7,578,069 8,280,445 7,514,571 8,032,974 Health and human services882,740 819,138 827,802 1,873,028 1,885,761 1,925,253 2,098,190 2,210,690 2,260,902 2,486,008 Culture and recreation13,518,312 11,955,737 13,011,327 12,938,589 12,338,932 13,636,384 12,999,863 14,307,593 13,802,266 15,040,743 Interest on long‐term debt2,127,347 2,165,960 3,087,269 3,411,488 2,932,298 1,247,934 948,685 1,146,722 1,077,950 1,562,735 Total governmental activities expenses106,298,905 108,419,775 110,095,056 112,402,415 107,609,030 110,820,841 105,882,382 94,223,135 93,872,448 98,201,210 Business‐type activities:Airport1,993,202 2,026,804 2,251,434 3,300,550 2,771,616 4,319,084 2,974,582 3,178,004 2,713,567 3,270,117 Golf course2,296,870 2,099,936 2,139,847 2,250,748 2,298,804 2,200,740 2,173,590 2,386,006 2,277,544 2,442,180 Solid Waste14,826,315 14,434,201 14,780,647 16,226,857 17,157,550 16,907,652 16,850,054 19,367,124 19,648,560 20,544,997 Waterworks Utility36,574,469 37,148,813 39,419,864 40,333,170 43,274,617 45,184,377 53,960,170 51,849,388 50,408,232 54,263,991 Total Business‐type activities expenses55,690,856 55,709,754 58,591,792 62,111,325 65,502,587 68,611,853 75,958,396 76,780,522 75,047,903 80,521,285 Total Primary Government expenses161,989,761 164,129,529 168,686,848 174,513,740 172,913,375 179,432,694 181,840,778 171,003,657 168,920,351 178,722,495 PROGRAM REVENUESGovernmental activities:Charges for services:General government 2,363,280 2,756,613 2,586,799 3,372,595 4,336,464 4,354,150 5,028,744 7,954,848 7,172,729 7,400,036 Judicial 3,706,436 3,565,216 3,493,071 3,011,028 3,059,061 3,476,485 3,077,775 3,318,723 5,480,833 5,237,160 Public safety761,835 641,483 650,129 6,578,528 6,961,962 7,677,351 4,836,073 1,478,987 1,561,148 1,529,648 Utilities1,233,424 1,015,323 1,326,517 3,755 278,568 668 1,436 ‐ ‐ ‐ Transportation 3,111,259 3,275,596 3,329,054 2,712,137 3,140,008 3,823,320 2,638,216 2,218,114 3,568,302 2,383,972 Economic and natural environment2,419,488 2,486,396 3,130,530 3,766,499 3,791,108 5,641,135 4,992,629 4,814,488 4,747,410 5,253,540 Health and human services‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 123,391 Culture and recreation 2,299,635 1,793,863 1,811,127 2,096,514 2,676,783 2,331,046 2,260,812 2,347,627 2,176,752 2,678,765 Operating grants and contributions10,520,151 15,540,897 12,794,132 6,621,431 6,422,816 6,614,030 8,226,834 5,984,222 6,921,332 7,458,503 Capital grants and contributions9,102,331 12,135,982 33,529,033 23,077,914 11,640,501 8,658,075 10,913,636 10,167,007 5,700,805 7,615,827 Total governmental activities program revenues35,517,839 43,211,369 62,650,392 51,240,401 42,307,271 42,576,260 41,976,155 38,284,016 37,329,311 39,680,842 Business‐type activities:Charges for services:Airport2,039,477 2,294,383 2,436,543 2,494,436 2,652,808 2,614,311 2,718,441 2,820,574 3,503,323 3,177,298 Golf course2,095,751 2,014,983 2,128,452 2,142,433 2,127,512 2,302,635 2,196,062 2,166,680 2,329,889 2,397,796 Solid waste utility15,383,667 15,015,434 14,905,934 16,429,165 17,310,807 17,146,266 17,152,279 17,787,705 19,656,483 21,817,526 Waterworks Utility35,545,308 43,003,494 47,314,389 49,024,626 51,354,475 53,263,702 53,685,591 56,202,702 57,067,220 56,546,499 Total Business‐type charges55,064,203 62,328,294 66,785,318 70,090,660 73,445,602 75,326,914 75,752,373 78,977,661 82,556,915 83,939,119 Operating grants and contributions125,819 465,468 165,164 105,695 1,108,920 704,367 8,400,008 1,213,388 572,719 1,099,731 Capital grants and contributions1,056,961 2,473,309 7,668,558 18,879,992 12,531,671 23,291,274 12,559,755 7,664,875 6,285,279 7,341,238 Total business‐type activities program revenues56,246,983 65,267,071 74,619,040 89,076,347 87,086,193 99,322,555 96,712,136 87,855,924 89,414,913 92,380,088 Total primary government program revenues91,764,822$ 108,478,440$ 137,269,432$ 140,316,748$ 129,393,464$ 141,898,815$ 138,688,291$ 126,139,940$ 126,744,224$ 132,060,930$ Net (expense)/revenueGovernmental activities(70,781,066)$ (65,208,406)$ (47,444,664)$ (61,162,014)$ (65,301,759)$ (68,244,581)$ (63,906,227)$ (55,939,119)$ (56,543,137)$ (58,520,368)$ Business‐type activities556,127 9,557,317 16,027,248 26,965,022 21,583,606 30,710,702 20,753,740 11,075,402 14,367,010 11,858,803 Total primary government net expense(70,224,939)$ (55,651,089)$ (31,417,416)$ (34,196,992)$ (43,718,153)$ (37,533,879)$ (43,152,487)$ (44,863,717)$ (42,176,127)$ (46,661,565)$ Fiscal Year2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-3
TABLE 2CHANGES IN NET POSITIONLAST TEN FISCAL YEARS(accrual basis of accounting)Page 2 of 2GENERAL REVENUES AND OTHER CHANGES2010201120122013201420152016201720182019Governmental activities:TaxesProperty taxes32,586,884$ 33,309,975$ 33,932,290$ 32,536,533$ 35,112,669$ 35,418,323$ 37,105,988$ 24,669,058$ 19,046,123$ 21,706,506$ Timber taxes‐$ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Retail sales taxes21,591,375 22,008,777 23,653,706 25,541,972 27,223,521 29,567,506 32,933,987 33,381,395 33,564,285 32,955,528 Business taxes16,883,888 16,870,284 17,632,759 16,439,502 18,575,350 20,561,270 26,376,964 30,135,189 30,055,917 30,151,752 Excise taxes4,351,914 4,113,705 4,286,883 5,838,149 4,595,540 5,736,582 6,123,700 7,193,498 7,951,859 6,485,943 Penalties and interest276 380 9,486 ‐ ‐ ‐ ‐ ‐ ‐ ‐ Investment earnings794,793 602,516 589,616 613,097 1,137,752 1,303,414 1,441,471 1,587,589 2,374,510 3,011,779 Miscellaneous82,352 991,772 1,179,112 1,232,066 760,292 580,042 1,746,009 689,371 938,045 663,782 Gain on sale of capital assets1‐ ‐ ‐ ‐ ‐ 17,109 13,710 992,114 914,008 43,698 Transfers(17,095) 37,454 233,961 2,341,160 449,362 131,491 173,917 218,212 (256,835) 68,783 Special ItemsTransfer of fire operations(32,665,407) ‐ ‐ ‐ Transfer of library assets(18,527,290) ‐ ‐ ‐ Total governmental activities76,274,387 77,934,863 81,517,813 84,542,479 87,656,244 93,315,737 54,723,049 98,866,426 94,587,912 95,087,771 Business‐type activities:Investment earnings224,974 117,090 105,129 94,077 96,625 225,515 332,931 483,356 1,105,019 1,365,411 Miscellaneous172,663 71,235 44,842 124,281 30,863 38,014 18,051 48,201 17,883 243,965 Gain on sale of capital assets1‐ ‐ ‐ ‐ 93,773 ‐ ‐ ‐ ‐ ‐ Transfers17,095 (37,454) (233,961) (2,341,160) (449,362) (131,491) (173,917) (218,212) 256,835 (68,783) Total business‐type activities414,732 150,871 (83,990) (2,122,802) (228,101) (569,680) 177,065 313,345 1,379,737 1,540,593 Total primary government76,689,119$ 78,085,734$ 81,433,823$ 82,419,677$ 87,428,143$ 92,746,057$ 54,900,114$ 99,179,771$ 95,967,649$ 96,628,364$ CHANGES IN NET POSITIONGovernmental activities5,493,321$ 12,726,457$ 34,073,149$ 23,380,465$ 22,552,727$ 25,071,156$ (9,183,178)$ 42,927,307$ 38,044,775$ 36,567,403$ Business‐type activities970,859 9,708,188 15,943,258 24,842,220 21,355,505 30,842,740 20,930,805 11,388,747 15,746,747 13,399,396 Total primary government6,464,180$ 22,434,645$ 50,016,407$ 48,222,685$ 43,908,232$ 55,913,896$ 11,747,627$ 54,316,054$ 53,791,522$ 49,966,799$ Source : City of Renton Finance Division1 Prior to 2014 Gain (loss) on sale of capital assets were previously reported as "Miscellaneous".2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-4
TABLE 3FUND BALANCE OF GOVERNMENT FUNDSLAST TEN FISCAL YEARS(modified accrual basis of accounting)2010 2011 2012 2013 2014 2015 2016 2017 2018 2019General fundReserved 2,468,569$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ Unreserved12,020,420 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Nonspendable1‐ 1,149,907 ‐ ‐ ‐ ‐ 200,000 ‐ ‐ ‐ Restricted1‐ 786,611 690,655 303,051 250,717 156,105 974,770 1,341,610 1,428,578 1,607,617 Committed1‐ ‐ ‐ 4,236,362 ‐ 1,185,085 ‐ ‐ ‐ ‐ Assigned1‐ 13,812,258 16,566,659 15,929,712 286,516 260,342 236,772 8,853,636 9,545,607 7,829,990 Unassigned1‐ ‐ 1,427,130 ‐ 19,517,236 20,183,002 28,579,805 29,077,267 41,085,590 45,660,733 Total general fund 14,488,989$ 15,748,776$ 18,684,444$ 20,469,125$ 20,054,469$ 21,784,534$ 29,991,347$ 39,272,513$ 52,059,775$ 55,098,340$ All other governmental fundsReserved6,771,384$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ Unreserved, reported in:Special revenue funds2,073,227 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Debt service funds‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Capital project funds8,701,843 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Nonspendable1‐ ‐ ‐ ‐ ‐ ‐ 64,783 ‐ ‐ ‐ Restricted1‐ 19,152,913 23,730,688 22,888,877 18,722,577 7,841,326 7,528,348 13,049,222 14,852,808 37,576,471 Committed1‐ 7,468,491 6,085,812 8,513,816 ‐ 15,844,472 20,134,020 11,763,443 17,125,460 18,352,497 Assigned1‐ 6,828,410 1,220,008 137,605 12,594,651 3,290,869 6,150,838 18,261,594 13,963,776 15,519,639 Unassigned1‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Total all other governmental funds17,546,454$ 33,449,814$ 31,036,508$ 31,540,298$ 31,317,228$ 26,976,667$ 33,877,989$ 43,074,259$ 45,942,044$ 71,448,607$ Source : City of Renton Finance Division1 In 2011, implementation of GASB 54 requires new designations of fund balance; prior year data not available in prescribed format $‐ $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,0002010 2011 2012 2013 2014 2015 2016 2017 2018 2019General fundAll other governmental funds2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-5
TABLE 4CHANGES IN FUND BALANCES OF GOVERNMENT FUNDSLAST TEN FISCAL YEARS(modified accrual basis of accounting)2010201120122013201420152016201720182019REVENUESTaxes75,223,750$ 76,266,688$ 79,878,467$ 80,300,752$ 85,244,091$ 91,417,887$ 102,741,519$ 95,576,042$ 90,772,400$ 91,299,359$ Licenses and permits 3,975,4414,410,8624,843,4466,828,797 7,724,0388,541,090 7,504,210 6,462,056 5,892,914 5,836,382 Intergovernmental 16,203,49919,441,95733,430,07822,879,043 13,717,10910,546,797 14,058,888 10,944,312 9,662,231 8,464,679 Charges for services 4,635,5024,191,0244,497,0399,641,812 11,030,50113,337,291 9,077,603 6,863,066 8,036,603 7,912,645 Fines and forfeits3,439,9263,150,3263,053,9382,788,573 2,708,4773,049,542 3,131,466 2,978,800 4,330,947 4,748,321 Interfund revenues 13,244,928 3,057,642 3,375,134 294,039 264,539 296,649 ‐ ‐ ‐ ‐ Special assessments ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Contributions 2,952,649 4,288,448 1,488,384 3,878,978 947,927 187,616 792,699 551,968 598,662 238,587 Investment Earnings 550,134 475,278 494,518 500,330 1,039,626 1,108,572 1,214,516 1,330,442 1,752,835 2,266,107 Miscellaneous Revenues 82,353 648,608 942,998 2,208,853 2,117,198 1,994,532 3,036,059 2,280,640 2,375,518 2,079,530 Total revenues 99,848,821 120,409,318 114,678,981 110,308,182 115,930,833 130,479,976 141,556,960 126,987,326 123,422,110 122,845,610 EXPENDITURES CurrentGeneral government 10,532,537 10,937,806 8,371,489 9,348,241 10,142,332 11,334,485 11,961,260 12,492,727 12,267,911 12,423,213 Judicial 2,402,692 2,563,989 2,610,481 2,364,631 2,400,097 2,461,668 2,536,835 2,650,678 2,727,689 3,162,916 Public safety 48,904,653 52,986,589 54,378,422 53,112,143 55,174,723 58,211,446 47,619,491 36,063,481 39,768,443 42,841,721 Utilities 2,345,459 2,048,971 2,608,369 468,442 252,826 236,245 238,057 240,611 244,244 244,452 Transportation10,748,393 10,038,344 10,137,750 11,769,366 10,092,425 10,898,934 13,631,324 12,567,755 12,947,686 10,634,812 Economic environment7,205,500 6,447,163 6,283,264 6,652,593 6,088,295 6,628,136 7,130,650 7,730,872 7,674,325 8,094,074 Health and human services787,768 511,934 523,577 1,827,736 1,840,312 1,876,841 2,068,295 2,175,116 2,371,428 2,515,683 Culture and recreation 12,310,530 11,166,081 11,537,450 11,040,787 10,942,620 12,250,743 11,786,172 13,080,103 12,897,526 13,608,275 Capital outlay12,216,152 14,981,858 24,989,777 25,356,592 16,829,123 20,274,185 12,637,649 11,895,890 11,362,136 16,171,373 Debt servicePrincipal payments 2,682,672 2,783,237 7,116,917 4,744,439 5,076,530 4,834,225 4,530,216 4,672,672 4,480,075 5,167,947 Interest and fiscal charges 2,231,823 2,502,876 3,368,903 3,315,011 3,324,433 1,660,586 1,570,322 1,390,904 1,216,109 1,646,927 Total expenditures 109,621,957 122,980,366 139,533,248 112,368,179 116,968,848 130,667,494 115,710,271 104,960,809 107,957,572 116,511,393 EXCESS (DEFICIENCY) OF REVENUESOVER EXPENDITURES(9,773,136) (2,571,048) (24,854,267) (2,059,997) (1,038,015) (187,518) 25,846,689 22,026,517 15,464,538 6,334,217 OTHER FINANCING SOURCES (USES)Transfers in 2,545,659 3,886,650 4,183,185 5,860,038 5,175,933 9,326,629 10,252,886 9,891,918 2,440,000 18,898,175 Transfer (out) (2,822,330) (4,144,157) (4,113,465) (6,102,584) (8,463,285) (10,786,043) (8,480,721) (14,374,763) (3,931,548) (20,157,065) Interfund loan proceeds‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Refunding bonds issued 6,170,000 9,425,000 ‐ ‐ ‐ 12,520,000 ‐ ‐ ‐ ‐ GO Bonds issued‐ 16,715,000 ‐ 3,200,000 ‐ ‐ ‐ ‐ ‐ 20,845,000 Premium on general obligation debt443,484 2,268,169 ‐ ‐ ‐ 1,171,804 ‐ ‐ ‐ 2,593,852 Sale of capital assets ‐ 500 375,039 9,821 5,170 ‐ ‐ 916,547 1,662,460 20,000 Payment to refunded bond escrow agent(6,406,088) (9,950,000) ‐ ‐ ‐ (13,573,341) ‐ ‐ ‐ ‐ Insurance Recoveries‐ ‐ ‐ ‐ 14,666 14,724 29,061 17,217 19,597 10,949 Total other financing sources (uses)(69,275) 18,201,162 444,759 2,967,275 18,201,162 (1,326,227) 1,801,226 (3,549,081) 190,509 22,210,911 SPECIAL ITEMSTransfer of fire operations(12,300,367) ‐ ‐ ‐ Total special items‐ ‐ ‐ ‐ ‐ ‐ (12,300,367) ‐ ‐ ‐ Net change in fund balance(9,748,918)$ (2,697,405)$ (13,442,533)$ (2,129,272)$ 17,163,147$ (1,513,745)$ 15,347,548$ 18,477,436$ 15,655,047$ 28,545,128$ Debt service as a percentage ofnon capital expenditures4.91%5.18%7.70%7.98%7.98%5.88%5.92%6.52%5.90%6.79%Source : City of Renton Finance DivisionTables prior to 2010 used the titles "Security of persons and property" and "Mental and physical health" for functions now being referred to as "Public Safety" and "Health and Human Services", respectively. Tables Prior to 2013 used the title "Physical environment" for functions now being referred to as "Utilities".1 20019‐2012 Interfund revenues include amounts received for indirect costs allocated to departments. Beginning in 2013 these amounts are recorded as a reduction of the expenses, rather than revenue, in accordance with Generally Accepted Accounting Principles.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-6
TABLE 5WATER UTILITY SYSTEMS REVENUE INFORMATIONLAST TEN FISCAL YEARS 12010 2011 2012 2013 2014 2015 2016 2017 2018 2019City Population90,927 92,590 93,910 95,540 97,130 98,470 101,300 102,700 104,100 104,700Water SystemRate Increase10.0% 18.0% 16.0% 5.0% 5.0% 0.0% 0.0% 0.0% 0.0% 0.0%BillingSingle Family4,141,600$ 4,811,663$ 9,575,942$ 5,887,603$ 6,339,653$ 6,526,128$ 6,386,047$ 6,558,914$ 6,567,867$ 6,472,448$ Multi‐Family, Commercial, Industrial4,621,839 5,538,570 6,410,943 6,772,971 6,977,452 6,823,857 7,072,435 7,297,389 7,277,957 7,084,008 Irrigation1,240,240 1,546,874 1,922,822 1,468,453 2,245,010 2,537,017 2,357,006 2,425,206 2,745,461 2,319,170 Fire Service186,289 227,699 275,952 292,149 311,936 315,931 322,539 333,951 337,687 340,641 Other2416,032 342,100 454,370 443,825 488,502 607,944 506,044 489,559 455,627 511,488 Total Water Billing10,606,000 12,466,906 18,640,029 14,865,001 16,362,553 16,810,877 16,644,071 17,105,020 17,384,599 16,727,755 Wastewater SystemRate Increase4.0% 42.0% 5.0% 5.0% 5.0% 0.0% 0.0% 4.0% 4.0% 0.0%BillingSingle Family2,896,646$ 4,194,277$ 4,464,521$ 4,757,734$ 5,069,164$ 5,173,757$ 5,262,490$ 5,551,146$ 5,820,715$ 5,875,324$ Multi‐Family, Commercial, Industrial, Other 2,651,028 3,751,082 4,059,646 4,359,018 4,560,119 4,217,237 4,467,264 4,627,298 4,794,217 4,733,681 Total City Wastewater Billing5,547,674 7,945,359 8,524,167 9,116,752 9,629,283 9,390,994 9,729,754 10,178,444 10,614,932 10,609,005 King County Metro Charges11,774,984 13,468,616 13,751,047 15,357,431 15,440,140 15,556,018 16,156,367 16,865,542 16,895,073 17,314,045 Total All17,322,658 21,413,975 22,275,214 24,474,183 25,069,423 24,947,012 25,886,121 27,043,986 27,510,005 27,923,050 Storm Water SystemRate Increase0.0% 40.0% 11.0% 5.0% 5.0% 4.0% 4.0% 4.0% 4.0% 0.0%BillingSingle Family1,834,693$ 2,602,439$ 2,952,519$ 3,130,413$ 3,332,758$ 3,498,882$ 3,671,923$ 3,848,958$ 4,022,009$ 4,043,489$ Multi‐Family, Commercial, Industrial, Other3,075,580 4,342,672 4,801,900 5,035,416 5,742,495 6,012,017 6,235,149 6,690,859 6,906,349 6,932,067 Total Storm Water Billing4,910,273 6,945,111 7,754,419 8,165,829 9,075,253 9,510,899 9,907,072 10,539,817 10,928,358 10,975,556 1 Data for prior years provided where available.2 Includes wholesale water provided to the Skyway Water and Sewer District through a single metered connection.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-7
TABLE 6PRINCIPAL RATEPAYERSPage 1 of 3WATER20192010% of Total% of TotalRatepayerRevenue Rank RevenueRevenue Rank RevenueBoeing Commercial495,751$ 1 2.96%275,217$ 1 2.60%City Of Renton438,595 2 2.62%225,271 3 2.12%King County405,583 3 2.43%261,844 2 2.47%Renton School District203,142 4 1.21%83,726 6 0.79%Skyway Water and Sewer District159,365 5 0.95% 118,150 4 1.11%Public Hosp Dist #1 of KC 146,142 6 0.87% 75,016 9 0.71%TLUS Rise Renton LP 124,100 7 0.74% ‐ 0.00%Copper Ridge Renton LLC 119,365 8 0.71% ‐ 0.00%CPT The Landing LLC 115,099 9 0.69% ‐ 0.00%Renton Housing Authority99,307 10 0.59% ‐ 0.00%The Arbors at Sunset92,449 5 0.87%Axis Grand Apartments79,897 7 0.75%Ergis IX Reo LLC75,029 8 0.71%Service Linen Supply Inc72,521 10 0.68%All Other8,083,600 48.33% 5,224,918 49.26%Single Family6,315,677 37.76% 4,021,962 37.92%Misc 20,769 0.12%Total Revenue 16,726,495$ 100.00% 10,606,000$ 100.00%Source : City of Renton Finance Division2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-8
TABLE 6PRINCIPAL RATEPAYERSPage 2 of 3SURFACE WATER20192010% of Total% of TotalRatepayerRevenue Rank RevenueRevenue Rank RevenueCity of Renton1,253,179$ 1 11.42%297,902$ 1 6.07%Boeing Commercial393,833 2 3.59%196,926 2 4.01%Renton School District279,706 3 2.55%129,028 3 2.63%King County240,416 4 2.19%113,876 4 2.32%WA State Dept of Transportation92,387 5 0.84%44,021 5 0.90%Kenworth Truck Company84,228 6 0.77%42,027 6 0.86%Stoneway Rock and Recycling67,783 7 0.62%33,820 7 0.69%Leisure Estates Office65,790 8 0.60%32,820 8 0.67%The Kroger Co52,208 9 0.48%26,045 10 0.53%CPT The Landing LLC49,169 10 0.45%Pearlmark Harvest Lakeshore LLC26,237 9 0.53%All Other4,415,857 40.23% 2,173,254 44.26%Single Family3,977,193 36.24% 1,794,317 36.54%Misc 3,795 0.04%Total Revenue 10,975,544$ 100.00% 4,910,273$ 100.00%Source : City of Renton Finance Division2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-9
TABLE 6PRINCIPAL RATEPAYERSPage 3 of 3WASTEWATER20192010% of Total% of TotalRatepayerRevenue Rank RevenueRevenue Rank RevenueBoeing Commercial236,737$ 1 2.23%115,398$ 1 2.08%Public Hosp Dist #1 of KC98,119 2 0.93%51,935 3 0.94%TLUS Rise Renton LP77,289 3 0.73%Copper Ridge Renton LLC75,484 4 0.71%Service Linen Supply Inc70,334 5 0.66% 50,155 4 0.90%Sunset View Owner LLC 59,384 6 0.56%Renton Housing Authority59,090 7 0.56%Renton Preservation LP 56,845 8 0.54%City of Renton 56,573 9 0.53% 46,248 5 0.83%CPT The Landing LLC 55,748 10 0.53%The Arbors at Sunset63,571 2 1.15%Ergis IX Reo LLC44,572 6 0.80%Axis Grand Apartments42,291 7 0.76%G and K Services36,030 8 0.65%Holiday Inn Renton35,983 9 0.65%Maplewood LLC35,977 10 0.65%All Other4,001,380 37.72% 2,203,972 39.73%Single Family5,755,988 54.26% 2,821,542 50.86%Misc 6,034 0.06%Total Revenue 10,609,005$ 100.00% 5,547,674$ 100.00%Source : City of Renton Finance Division2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-10
TABLE 7WATER UTILITY RATESLAST 10 FISCAL YEARS 1Page 1 of 32010 2011 2012 2013 2014 2015 2016 2017 2018 2019Water RatesMonthly RatesBasic Charge3/4" 11.66 13.76 15.96 16.76 17.60 17.60 17.60 17.60 17.60 17.601" 24.15 28.50 33.06 34.71 34.89 34.89 34.89 34.89 34.89 34.891 1/2" 44.62 52.65 61.07 64.12 67.33 67.33 67.33 67.33 67.33 67.332" 69.92 82.51 95.71 100.50 105.52 105.52 105.52 105.52 105.52 105.523" 143.67 169.53 196.65 206.48 216.81 216.81 216.81 216.81 216.81 216.814" 219.24 258.70 300.00 315.00 330.75 330.75 330.75 330.75 330.75 330.756" 427.56 504.52 585.24 614.50 645.28 645.28 645.28 645.28 645.28 645.288" 836.94 987.59 1,145.52 1,202.80 1,262.94 1,262.94 1,262.94 1,262.94 1,262.94 1,262.9410"1,247.52 1,472.07 1,707.60 1,792.98 1,882.63 1,882.63 1,882.63 1,882.63 1,882.63 1,882.6312"1,815.55 2,142.35 2,485.13 2,609.39 2,739.86 2,739.86 2,739.86 2,739.86 2,739.86 2,739.86Charge for Irrigation3/4"7.02 8.28 9.60 10.08 10.58 10.58 10.58 10.58 10.58 10.581"12.53 14.79 17.16 18.02 18.92 18.92 18.92 18.92 18.92 18.921 1/2"21.40 25.25 29.29 30.75 32.29 32.29 32.29 32.29 32.29 32.292"32.77 38.67 44.86 47.10 49.46 49.46 49.46 49.46 49.46 49.463"69.36 81.84 94.94 99.69 104.57 104.57 104.57 104.57 104.57 104.574"103.14 121.71 141.18 148.24 155.65 155.65 155.65 155.65 155.65 155.656"195.35 230.51 267.40 280.77 294.81 294.81 294.81 294.81 294.81 294.818"427.49 504.44 585.15 614.41 645.13 645.13 645.13 645.13 645.13 645.1310"549.70 648.65 752.43 790.05 829.55 829.55 829.55 829.55 829.55 829.5512"793.78 936.66 1,086.53 1,140.86 1,197.90 1,197.90 1,197.90 1,197.90 1,197.90 1,197.901 Data for prior years provided where available.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-11
TABLE 7WATER UTILITY RATESLAST 10 FISCAL YEARS 1Page 2 of 32010 2011 2012 2013 2014 2015 2016 2017 2018 2019Water Rates, continuedMonthly RatesFire Meterper meter inch1"4.16 4.91 5.69 5.97 6.27 6.27 6.27 6.27 6.27 6.271 1/2"4.64 5.48 6.36 6.68 7.01 7.01 7.01 7.01 7.01 7.012"5.97 7.04 8.17 8.58 9.01 9.01 9.01 9.01 9.01 9.013"15.76 18.60 21.58 22.66 23.79 23.79 23.79 23.79 23.79 23.794"19.40 22.89 26.55 27.88 29.27 29.27 29.27 29.27 29.27 29.276"27.87 32.89 38.15 40.06 42.06 42.06 42.06 42.06 42.06 42.068"37.53 44.29 51.38 53.95 56.65 56.65 56.65 56.65 56.65 56.6510"48.43 57.15 66.29 69.60 73.08 73.08 73.08 73.08 73.08 73.0812"N/A N/A N/A N/A N/A N/A N/A 87.68 87.68 87.68Useage Ratesrate/100 cf (100cf = 748 gallons)Single Family:< 500 cf/mo1.68 1.98 2.30 2.42 2.54 2.54 2.54 2.54 2.54 2.54500‐1,000 cf/mo2.26 2.67 3.09 3.24 3.41 3.41 3.41 3.41 3.41 3.41< 1,000 cf/mo> 1,000 cf/mo2.85 3.36 3.90 4.10 4.30 4.30 4.30 4.30 4.30 4.30All Other UsersMulti‐family2.18 2.57 2.98 3.13 3.29 3.29 3.29 3.29 3.29 3.29Non‐residential2.31 2.73 3.16 3.32 3.48 3.48 3.48 3.48 3.48 3.48Private irrigation3.70 4.37 5.06 5.31 5.58 5.58 5.58 5.58 5.58 5.58City irrigation2.60 3.07 3.56 3.74 3.92 3.92 3.92 3.92 3.92 3.92Hydrant MeterN/A N/A N/A N/A N/A N/A N/A 5.58 5.58 5.581 Data for prior years provided where available.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-12
TABLE 7WATER UTILITY RATESLAST 10 FISCAL YEARS 1Page 3 of 32010 2011 2012 2013 2014 2015 2016 2017 2018 2019Surface Water RatesMonthly ratesSingle‐family 7.41 10.37 11.51 12.09 12.69 13.20 13.73 14.28 14.85 14.85Commercial Minimums<= .5 acreMonthly rateLow Intensity18.34 25.68 28.50 29.93 31.42 32.68 33.99 35.35 36.76 36.76Medium Intensity26.53 37.14 41.23 43.29 45.46 47.28 49.17 51.14 53.18 53.18High Intensity34.21 47.89 53.16 55.82 58.61 60.95 63.39 65.93 68.56 68.56> .5 acreRate per acreLow Intensity36.69 51.37 57.02 59.87 62.86 65.37 67.98 70.70 73.53 73.53Medium Intensity53.04 74.26 82.42 86.54 90.87 94.50 98.28 102.21 106.30 106.30High Intensity68.41 95.77 106.31 111.63 117.21 121.90 126.78 131.85 137.13 137.13Wastewater RatesMonthly RatesSingle‐familyRenton 16.82 23.88 25.08 26.33 27.65 27.65 27.65 28.76 29.91 29.91King County 33.06 37.26 37.26 40.95 40.95 42.61 42.61 44.22 44.22 45.53Other UsersRentonBase charge 2.54 3.61 3.79 4.05 4.25 4.25 4.25 4.42 4.60 4.60Per 100 cf 1.90 2.70 2.83 2.97 3.12 3.12 3.12 3.24 3.37 3.37King CountyPer 750 cf 33.06 37.26 37.26 40.95 40.95 42.61 42.61 44.22 44.22 45.531 Data for prior years provided where available.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-13
TABLE 8GENERAL GOVERNMENT TAX REVENUE BY SOURCELAST TEN FISCAL YEARS(accrual basis of accounting) FISCAL YEAR PROPERTY TAX SALES TAX BUSINESS TAXES EXCISE TAX TOTAL TAX 2010 32,586,884 21,591,375 16,883,888 4,351,914 75,414,061 2011 33,309,975 22,008,777 16,870,284 4,113,705 76,302,741 2012 33,932,290 23,653,706 17,632,759 4,286,883 79,505,638 2013 32,536,533 25,541,972 16,439,502 5,838,149 80,356,156 2014 35,112,669 27,223,521 18,575,350 4,595,540 85,507,080 2015 35,418,323 29,567,506 20,561,270 5,736,582 91,283,681 2016 37,105,988 32,933,987 26,376,964 6,123,700 102,540,639 2017 24,669,058 33,381,395 30,135,189 7,193,498 95,379,140 2018 19,046,123 33,564,285 30,055,917 7,951,859 90,618,184 2019 21,706,506 32,955,528 30,151,752 6,485,943 91,299,729 Source : City of Renton Finance Division$0$20,000,000$40,000,000$60,000,000$80,000,000$100,000,000$120,000,0002010 2011 2012 2013 2014 2015 2016 2017 2018 2019Property TaxSales TaxBusiness TaxExcise Tax2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-14
TABLE 9PRINCIPAL PROPERTY TAX PAYERS2019 2010% OF TOTAL % OF TOTALTAXABLE1TAXABLETAXABLE1TAXABLEASSESSED ASSESSED ASSESSED ASSESSEDTAXPAYER VALUE RANK VALUE VALUE RANK VALUEBoeing917,917,996$ 1 4.79%816,632,281$ 1 6.87%Southport LLC214,173,000 2 1.12%CPT The Landing LLC161,996,500 3 0.85%Puget Sound Energy‐Elec/Gas147,662,162 4 0.77% 95,185,071 3 0.80%Paccar131,875,157 5 0.69%115,630,722 2 0.97%Hotel at Southport LLC100,076,800 6 0.52%Port Quendall Company98,720,700 7 0.52%TLUS Rise Renton LP 95,710,400 8 0.50%Oaksdale Business Park LLC 81,251,900 9 0.42%BMF IV WA Grammercy LLC 78,321,000 10 0.41%Transwestern Harvest Lakeshore68,455,459 4 0.58%Renton Properties LLC56,821,800 5 0.48%Black River JV LLC (formerly ECI Two WTC LLC)50,835,600 6 0.43%Providence Health50,395,417 7 0.42%Fred Meyer Stores Inc46,337,192 8 0.39%Axis Grand Holdings41,166,000 9 0.35%BRE Properties38,300,700 10 0.32%All Others17,124,318,700 89.41% 10,504,968,198 88.39%Total Assessed Valuation19,152,024,315$ 100.00% 11,884,728,440$ 100.00%Source: 1King County Department of Assessments2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-15
FISCAL YEARCOMMERCIAL PROPERTYINDUSTRIAL PROPERTY RESIDENTIAL PROPERTY LESS: EXEMPT REAL PROPERTY4PERSONAL PROPERTY3ADJUSTMENTS TO BASE2TOTAL TAXABLE ASSESSED VALUE3DIRECT TAX RATE32010 2,877,658,818 1,728,440,200 7,184,089,489 1,359,951,195 840,554,180 613,936,948 11,884,728,440 2.7122011 3,003,796,896 1,746,154,400 6,654,066,896 1,636,584,396 821,141,161 891,891,404 11,480,466,361 2.8322012 2,971,359,393 1,373,778,056 6,482,467,387 1,585,047,600 806,821,188 766,080,093 10,815,458,517 3.1002013 2,693,600,191 1,312,002,800 6,753,032,784 511,297,275 806,299,478 (464,916,779) 10,588,721,199 3.1002014 2,433,225,730 1,267,488,700 7,926,464,800 539,444,058 949,284,799 (704,693,058) 11,332,326,913 3.1522015 2,509,928,450 1,147,653,230 8,794,605,250 592,768,450 923,325,641 154,013,498 12,936,757,619 2.8332016 2,681,711,050 1,271,788,530 9,078,657,800 645,210,723 935,849,150 489,977,352 13,812,773,159 2.7102017 3,051,049,072 1,340,511,480 10,672,639,000 648,346,872 1,032,050,717 (341,864,438) 15,106,038,959 1.6102018 4,000,946,859 1,460,628,600 12,419,995,863 654,990,948 1,042,332,172 (1,359,862,495) 16,909,050,051 1.1542019 4,117,936,086 1,645,625,551 12,865,889,234 673,157,602 960,517,474 235,213,572 19,152,024,315 1.118Tax rate for general City operations is limited to $3.10 per $1,000 of assessed value (RCW 84.52.043). Tax rate limit may be reduced for any of the following reasons:Levy Limit; The One Percent Constitution Limit; City may levy taxes below the legal limit. For further explanation refer to Note 4 Property Taxes.TABLE 10ASSESSED VALUE OF TAXABLE PROPERTYLAST TEN FISCAL YEARSREAL PROPERTY 14Change to state law (RCW 84. 40.045 and 84.40.175) by the 2013 Legislature eliminated revaluation of government owned parcels.2Includes adjustments to the tax base for senior citizen exemptions, prior year omits, etc. 3King County Assessor Annual ReportsNote: 2008 and 2009 Adjustments to Base reflect the Benson Hill Annexation1King County Department of Assessments Data; prior year data has been updated with current method of data collection via City of Renton GIS Services.Sources:$2.71$2.83$3.10$3.10$3.15$2.83$2.71$1.61$1.15$1.121.0001.5002.0002.5003.0003.5004.0004.5005.0005.5006.000 $‐ $5 $10 $15 $20 $252010 2011 2012 2013 2014 2015 2016 2017 2018 2019BillionsTotal Taxable Assessed ValueDirect Tax Rate2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-16
TABLE 11PROPERTY TAX RATES DIRECT AND OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARSDIRECT RATESOVERLAPPING RATESCITY OF RENTON CONSOLIDATED LEVY SCHOOL DISTRICTFISCAL YEAR OPERATING MILLAGE DEBT SERVICE MILLAGE TOTAL CITY MILLAGE State of Washington KING COUNTY OPERATING MILLAGE KING COUNTY DEBT SERVICE MILLAGE Port (Operating and Debt) Total Consolidated Levy(State, County & Port) SPECIAL DISTRICTS1 OPERATING MILLAGE DEBT SERVICE MILLAGE BUILDING FUND MILLAGE TOTAL SCHOOL MILLAGE TOTAL OVERLAPPING MILLAGETOTAL DIRECT AND OVERLAPPING MILLAGE2010 2.71184 ‐ 2.71184 2.22253 1.16171 0.12328 0.21597 3.72349 0.94152 1.70401 1.69983 0.33997 3.74381 8.40882 11.12066 2011 2.83207 ‐ 2.83207 2.27990 1.14534 0.19282 0.22366 3.84172 1.47089 1.86118 1.85585 0.35198 4.06901 9.38162 12.21369 2012 3.10000 ‐ 3.10000 2.42266 1.21477 0.20111 0.22982 4.06836 1.41988 2.08341 2.18222 0.37368 4.63931 10.12755 13.22755 2013 3.10000 ‐ 3.10000 2.56720 1.34165 0.19885 0.23324 4.34094 1.50331 2.49448 2.30546 0.55769 5.35763 11.20188 14.30188 2014 3.15158 ‐ 3.15158 2.47044 1.32983 0.18622 0.21533 4.20182 1.55393 2.44841 2.43218 0.52436 5.40495 11.16070 14.31228 2015 2.83283 ‐ 2.83283 2.28514 1.19644 0.14878 0.18885 3.81921 1.44353 2.41546 1.71412 0.46343 4.59301 9.85575 12.68858 2016 2.70956 ‐ 2.70956 2.16898 1.32977 0.15051 0.16954 3.81880 1.38929 2.35107 2.57140 0.43248 5.35495 10.56304 13.27260 2017 1.60954 ‐ 1.60954 2.03205 1.24349 0.13945 0.15334 3.56833 2.58252 2.30780 1.33954 1.31244 4.95978 11.11063 12.72017 2018 1.15364 ‐ 1.15364 2.91820 1.20156 0.12579 0.13518 4.38073 2.36018 2.32725 1.19417 1.14765 4.66907 11.40998 12.56362 2019 1.18417 ‐ 1.18417 2.62922 1.09639 0.12267 0.12266 3.97094 1.73095 1.50000 1.03306 0.97338 3.50644 9.20833 10.39250 Source: King County Codes and Levies1 Special Districts include Emergency Medical Services, Hospital districts, Library, Flood Zones, Fire Districts, and Other.11.12066 12.21369 13.22755 14.30188 14.31228 12.68858 13.27260 12.72017 12.56362 10.39250 ‐ 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.02010 2011 2012 2013 2014 2015 2016 2017 2018 2019CityConsolidated LevySpecial DistrictsSchool DistrictsTotal direct and overlapping2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-17
TABLE 12PROPERTY TAX LEVIES AND COLLECTIONSLAST TEN FISCAL YEARSTOTAL TAXCOLLECTED WITHIN THE 1COLLECTIONS 1,2 TOTAL COLLECTIONS TO FISCAL LEVY FOR FISCAL YEAR OF THE LEVY IN SUBSEQUENT DATE 2YEAR FISCAL YEAR AMOUNT % OF LEVY YEARSAMOUNT % OF LEVY201032,057,010 31,283,546 97.6%772,426 32,055,972.56 100.0%201132,330,000 31,538,875 97.6%795,195 32,334,069.92 100.0%201233,400,000 32,904,890 98.5%506,853 33,411,742.69 100.0%201332,563,355 32,170,706 98.1%396,838 32,567,543.87 100.0%201435,520,000 35,054,493 98.7%467,763 35,522,256.68 100.0%201536,420,000 36,026,892 98.9%392,690 36,419,581.56 100.0%201637,269,743 36,862,540 98.9%430,328 37,292,868.44 100.1%201724,200,000 23,756,999 98.2%444,793 24,201,792.21 100.0%201819,400,000 19,192,947 98.9%145,856 19,338,802.56 99.7%201921,058,328 20,833,805 98.9%N/A 20,833,805.00 98.9%‐$ Sources: 1 Annual Tax Receivable Summary from King County2 Includes Collections and Levy Changes in subsequent years95%96%97%98%99%100% $‐ $5 $10 $15 $20 $25 $30 $35 $402010 2011 2012 2013 2014 2015 2016 2017 2018 2019MillionsTax LeviedCollected in Year Levied2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-18
TABLE 13SALES TAX COLLECTIONS BY SECTORLAST TEN FISCAL YEARS2010 2011 2012 2013 2014 2015 2016 2017 2018 2019RETAIL TRADE SECTORFurniture 1,143,289$ 1,186,244$ 1,320,786$ 1,461,950$ 1,552,003$ 1,670,492$ 1,727,458$ 1,820,848$ 514,310$ 284,862$ Electronics and Appliances1,086,334 988,355 962,595 742,150 785,507 815,051 832,583 815,267 860,895 821,722 General Merchandise1,646,351 1,652,442 1,722,213 1,707,695 1,733,558 1,826,260 1,856,109 1,859,900 1,790,704 1,726,997 Misc Retail Trade558,709 594,226 614,814 661,905 653,772 635,438 545,156 598,632 2,060,038 2,485,865 Others 1,563,101 1,649,231 1,862,533 2,003,901 1,992,620 2,166,015 2,334,225 2,616,887 2,529,467 2,681,185 Subtotal Retail 5,997,784 6,070,498 6,482,942 6,577,601 6,717,460 7,113,256 7,295,531 7,711,534 7,755,414 8,000,631 OTHER SECTORSConstruction 2,218,377 1,576,127 1,844,545 2,694,710 2,316,188 3,019,042 4,682,830 4,246,126 4,585,841 3,751,460 Manufacturing410,896 452,778 551,622 552,474 446,615 448,230 514,526 460,241 500,576 491,889 Transportation400,848 366,556 620,297 492,237 770,889 1,592,590 1,295,994 1,090,118 1,349,230 1,370,784 Wholesale941,315 1,148,660 1,169,432 1,174,007 1,157,750 1,198,961 1,435,378 1,405,676 1,571,217 1,654,800 Automotive 3,035,251 3,179,418 3,361,196 3,731,241 4,104,744 4,597,151 4,809,026 4,775,263 5,118,532 5,220,618 Services3,694,342 3,960,151 4,221,446 4,362,344 4,576,039 5,145,373 5,635,186 5,884,292 6,855,309 7,178,122 Miscellaneous533,667 721,805 441,252 553,106 590,685 566,166 684,762 758,384 692,516 650,275 Subtotal ‐ Other Sectors 11,234,696 11,405,496 12,209,789 13,560,119 13,962,910 16,567,513 19,057,702 18,620,100 20,673,221 20,317,948 Total Sales Tax17,232,479$ 17,475,994$ 18,692,731$ 20,137,720$ 20,680,370$ 23,680,769$ 26,353,233$ 26,331,634$ 28,428,635$ 28,318,579$ Source : City of Renton Finance DivisionIn 2007, the State of Washington changed industry classification from the Standard Industry Classification (SIC) to the North American Industry Classification System (NAICS). This change reclassified various other retail activities to the expanded service classification. $‐ $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,0002010 2011 2012 2013 2014 2015 2016 2017 2018 2019RetailConstructionManufacturingTransportationWholesaleAutomotiveServicesMiscellaneous2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-19
TABLE 14
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
GOVERNMENTAL ACTIVITIES BUSINESS‐TYPE ACTIVITIES
FISCAL
YEAR
GENERAL
OBLIGATION
BONDS
SPECIAL
ASSESSMENT
BONDS
OTHER
GENERAL
OBLIGATION2
REVENUE
BONDS
OTHER LONG
TERM DEBT
TOTAL PRIMARY
GOVERNMENT
DEBT
PERCENTAGE
OF PERSONAL
INCOME1
DEBT PER
CAPITA
% of Actual
Taxable Value
of Property
2010 36,990,612 ‐ 38,511,875 36,955,000 7,357,546 119,815,033 10.97% 1,318 0.96%
2011 52,993,407 ‐ 38,053,639 34,926,581 6,443,218 132,416,845 11.26% 1,430 1.01%
2012 46,743,675 ‐ 36,891,722 32,492,802 5,538,929 121,667,128 9.16% 1,296 1.15%
2013 46,103,944 ‐ 35,692,283 31,208,819 4,660,282 117,665,328 8.60% 1,232 1.12%
2014 41,882,832 ‐ 34,639,998 28,677,301 3,951,670 109,151,801 7.20% 1,124 1.11%
2015 37,399,331 ‐ 33,340,737 27,175,783 3,248,163 101,164,014 6.25% 1,027 0.96%
2016 32,867,371 ‐ 32,220,614 25,547,511 2,639,258 93,274,754 5.40% 921 0.67%
2017 29,093,663 ‐ 31,052,617 24,919,359 2,244,083 87,309,722 4.69% 850 0.58%
2018 24,705,089 ‐ 29,845,813 22,740,572 1,898,266 79,189,740 3.92% 761 0.47%
2019 42,998,621 24,588,550 20,444,953 1,552,448 89,584,571 N/A 856 0.47%
Source : City of Renton Finance Division
1 The percentage of Personal Income column is based on personal income of King County. (See Table 20). Renton data is not available.
2 Other GO debt includes debt issued by related entities that are backed by the City's full faith and credit as well as intergovernmental loans and capital leases.
Prior years have been updated to reflect the Capital Lease agreement that started in 2014.
$‐
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
General Obligation (Governmental)Other Long Term (Governmental)Revenue (Business‐Type)Other Long Term (Business‐Type)
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-20
TABLE 15LEGAL DEBT MARGIN INFORMATIONLAST TEN FISCAL YEARS2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 LEGAL DEBT MARGIN CALCULATION Taxable Assessed value 11,884,728,440$ 11,480,466,361$ 10,815,458,517$ 10,588,721,199$ 11,332,326,913$ 12,936,757,619$ 13,812,773,159$ 15,106,038,959$ 16,909,050,051$ 19,152,024,315$ Total Taxable Assessed Value 11,884,728,440 11,480,466,361 10,815,458,517 10,588,721,199 11,332,326,913 12,936,757,619 13,812,773,159 15,106,038,959 16,909,050,051 19,152,024,315 Debt limit 1.5% of General purpose limit, non‐voted 178,270,927 172,206,995 162,231,878 158,830,818 169,984,904 194,051,364 207,191,597 226,590,584 253,635,751 287,280,365 1.0% General purpose limit, voted 118,847,284 114,804,664 108,154,585 105,887,212 113,323,269 129,367,576 138,127,732 151,060,390 169,090,501 191,520,243 2.5% General purpose combined limit 297,118,211 287,011,659 270,386,463 264,718,030 283,308,173 323,418,940 345,319,329 377,650,974 422,726,251 478,800,608 2.5% Utility purpose limit, voted 297,118,211 287,011,659 270,386,463 264,718,030 283,308,173 323,418,940 345,319,329 377,650,974 422,726,251 478,800,608 2.5% Open space, park facilities, voted 297,118,211 287,011,659 270,386,463 264,718,030 283,308,173 323,418,940 345,319,329 377,650,974 422,726,251 478,800,608 Total debt limit 891,354,633 861,034,977 811,159,389 794,154,090 849,924,518 970,256,821 1,035,957,987 1,132,952,922 1,268,178,754 1,436,401,824 Debt applicable to limitGeneral obligation bonds36,990,612 52,993,407 46,743,675 46,103,944 41,882,832 37,399,331 32,867,371 29,093,663 24,705,089 42,998,621 Other long term debt38,511,875 38,053,639 36,891,722 35,692,283 34,639,998 33,340,737 32,220,614 31,052,617 29,845,813 24,588,550 Total Debt 75,502,487 91,047,046 83,635,397 81,796,227 76,522,830 70,740,068 65,087,985 60,146,280 54,550,902 67,587,171 Less: Amount set aside for repayment of general obligation debt and contracts payable(1,009,555) (1,032,360) (1,160,000) (1,279,231) (1,639,891) (2,368,177) (2,428,018) (2,359,933) (2,787,931) (4,001,799) Total net debt applicable to limit 74,492,932 90,014,686 82,475,397 80,516,996 74,882,939 68,371,891 62,659,967 57,786,347 51,762,971 63,585,372 Legal debt margin 816,861,701$ 771,020,291$ 728,683,991$ 713,637,094$ 775,041,580$ 901,884,931$ 973,298,020$ 1,075,166,575$ 1,216,415,783$ 1,372,816,452$ Percentage of net debt to debt limit8.36% 10.45% 10.17% 10.14% 8.81% 7.05% 6.05% 5.10% 4.08% 4.43%Source : City of Renton Finance DivisionState law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable property of the City: 1.5 percent without a vote of the people; 2.5 percent with a vote of the people;5.0 percent with a vote of the people, provided the indebtedness in excess of 2.5 percent is for utilities; and 7.5 percent with a vote of the people provided the indebtedness in excess of 5.0 percent is for open space development and parks facilities.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-21
% OF GEN BONDED2
GENERAL 1 DEBT TO
FISCAL BONDED ASSESSED2 ASSESSED PER3
YEAR DEBT VALUE VALUE CAPITA
2010 75,502,487 11,884,728,440 0.64%830
2011 91,047,046 11,480,466,361 0.79%983
2012 83,635,397 10,815,458,517 0.77%891
2013 81,796,227 10,588,721,199 0.77%856
2014 76,522,830 11,332,326,913 0.68%788
2015 70,740,068 12,936,757,619 0.55%718
2016 65,087,985 13,812,773,159 0.47%643
2017 60,146,280 15,106,038,959 0.40%586
2018 54,550,902 16,909,050,051 0.32%524
2019 67,587,171 19,152,024,315 0.35%646
Source:
1 City of Renton Finance Division
2 King County Department of Assessments
3 Population Data can be found in Table 19
TABLE 16
RATIOS OF GENERAL BONDED DEBT OUSTANDING TO ASSESSED VALUE
LAST TEN FISCAL YEARS
$‐
200
400
600
800
1,000
1,200
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-22
Utilities
GOVERNMENTAL UNIT
Debt
Outstanding1
Estimated Percent
Applicable2
Estimated Share of
overlapping debt
City of Renton Direct Debt 67,587,171$ 100% 67,587,171$
City of Renton Overlapping Debt 4
King County 3 669,566,000 3.16% 21,139,208
Port of Seattle 335,470,000 3.16% 10,591,293
Renton School District #403 228,325,000 68.90% 157,305,909
Issaquah School District #411 689,655,000 2.36% 16,272,478
Kent School District #415 247,156,000 1.60% 3,962,037
Fire District 10‐1 3,170,000 0.32% 10,202
Fire District 40‐1 1,195,000 42.92% 512,884
King County Library 68,420,000 1.11% 759,120
City of Renton Overlapping Debt 210,553,133
Total Direct and Overlapping Debt 278,140,303$
Sources:
2 King County Department of Assessments
TABLE 17
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
1 King County Department of Executive Services
⁴ Overlapping percentages are determined by checking within the levy codes of the reporting district to see which taxing districts overlap
with that reporting district. For example, within levy code 2100, the Renton School District and the King County Library district overlap with
the city and both have debt. Since they both have debt and they overlap with the City, those two districts are reported and the value within
that levy code is reported as overlapping with the school and library districts.
3 King County's gross outstanding debt excludes available cash in debt service funds, proprietary‐type debt, debt financed from component
unit, credit enhanced program.
Renton
24%
King County
8%
Schools
64%
Port of Seattle
4%
Others
0%
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-23
TABLE 18
PLEDGED‐REVENUE COVERAGE
LAST TEN FISCAL YEARS
Ratio
Fiscal
Year Revenue
1
Expenses without
Taxes/
Depreciation
Net Revenue
Available for
Debt Service Principal Interest Coverage2
2010 33,885,499 25,546,607 8,338,892 2,859,290 1,693,010 1.83
2011 40,538,269 25,424,551 15,113,718 2,934,290 1,673,045 3.28
2012 44,534,579 27,225,957 17,308,622 3,379,290 1,577,350 3.49
2013 45,849,249 27,538,433 18,310,816 2,168,648 1,292,497 5.29
2014 48,247,542 29,685,885 18,561,657 3,253,612 1,243,751 4.13
2015 50,143,096 30,737,021 19,406,075 2,218,509 1,124,534 5.80
2016 50,614,218 39,147,449 11,466,769 2,348,901 887,754 3.54
2017 53,140,049 35,056,056 18,083,993 2,165,175 669,440 6.38
2018 54,486,431 35,196,065 19,290,366 2,473,986 556,599 6.37
2019 54,435,195 38,164,206 16,270,989 2,590,818 514,821 5.24
1 Revenue includes operating revenue, interest revenue, and other non‐operating revenue, net of utility taxes.
2 Bond financing requirements are that the average annual coverage is at least 1.25 times the annual debt service for Water and Sewer revenue
bonds.
Revenue Debt Service
1.83
3.28
3.49 5.29 4.13
5.80
3.54 6.38 6.37 5.24
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Waterworks Net Revenue available for debt service Debt Service Coverage
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-24
PER CAPITA
PERSONAL PERSONAL SCHOOL
POPULATION INCOME INCOME ENROLLMENT 5 RATE 6
FISCAL MEDIAN RENTON SCHOOL
YEAR KING COUNTY 2 RENTON 1 KING COUNTY 2 KING COUNTY 3 AGE 4 DISTRICT KING COUNTY RENTON
2009 1,912,012 83,650 106,247,964,000 55,512 37.08 13,977 8.0% 8.6%
2010 1,938,375 90,927 109,193,564,000 56,333 37.09 13,600 9.1% 7.7%
2011 1,974,084 92,590 117,594,650,000 59,569 37.38 14,440 8.0% 6.8%
2012 2,011,323 93,910 132,860,453,000 66,056 37.70 14,590 6.4% 6.0%
2013 2,047,543 95,540 136,752,224,000 66,788 37.70 14,783 5.0% 4.7%
2014 2,085,730 97,130 151,515,304,000 72,644 37.44 15,080 4.6% 4.2%
2015 2,126,561 98,470 161,877,609,000 76,122 37.24 15,241 4.6% 4.3%
2016 2,166,602 101,300 172,768,856,000 79,742 36.67 15,319 3.4% 3.2%
2017 2,204,229 102,700 186,349,730,000 84,542 36.30 15,334 3.6% 3.8%
2018 2,233,163 104,100 201,962,200,000 90,438 36.23 15,414 3.5% 3.7%
2019 * 104,700 * * 36.19 15,204 3.0% 3.2%
Sources:
1 Washington State Office of Financial Management ‐ prior year data updated to reflect actuals where adjusted
2 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
3 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
4 Washington State Office of Financial Management ‐ prior year data updated to reflect actuals where adjusted
5 Enrollment is based on entire Renton School District, which includes schools located outside city boundaries but excludes schools of Kent
and Issaquah school districts located within Renton city limits.
6 US Bureau of Labor Statistics; annual rates, not seasonally adjusted, 2010‐2014 are provisional and subject to change
* Data not available at time of publication
TABLE 19
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
UNEMPLOYMENT
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
King County Unemployment Rate City of Renton Unemployment Rate
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-25
EMPLOYER EMPLOYEES RANK % OF TOTAL EMPLOYEES RANK % OF TOTAL
BOEING COMPANY 14,753 1 21.63% 12,913 1 23.81%
VALLEY MEDICAL CENTER 3,663 2 5.37% 2,012 2 3.71%
RENTON SCHOOL DISTRICT 2,677 3 3.93% 1,333 4 2.46%
PACCAR INC 1,797 4 2.63% 732 6 1.35%
PROVIDENCE WA REGIONAL SERVICES 1,614 5 2.37% 770 5 1.42%
CITY OF RENTON 1,006 7 1.48% 698 7 1.29%
KAISER PERMANENTE (FORMERLY GROUP HEALTH)* 1,013 6 1.49%
FRED MEYER STORES 944 8 1.38%
IKEA 884 9 1.30%
KING COUNTY* 714 10 1.05% 424 9 0.78%
DOT ‐ FEDERAL AVIATION ADMINISTRATION 1,475 3 2.72%
ER SOLUTIONS 479 8 0.88%
PUGET SOUNS EDUCATIONAL SERVICES DISTRICT 351 10 0.65%
Total Principal Employers 29,065 42.62%21,187 39.06%
Total All Other Employers 39,138 57.38%33,052 60.94%
Total Employees working within Renton 68,203 100.00%54,239 100.00%
Sources:
Employee and Employer Data, Business License Data, City of Renton (2010)
Total Employees Working in Renton, PSRC (2010, 2019)
TABLE 20
PRINCIPAL EMPLOYERS
2019 2010
* Employee data gathered using the perentage increase in total employees from 2018 to 2019 and applying a multiplier to 2018
numbers.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-26
TABLE 21
FULL TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
20101 2011 2012
2 2013 2014 2015 2016
3 2017 2018 2019
FUNCTION
General Government 143.3 143.5 147.3 135.4 135.4 139.4 151.0 156.0 161.0 170.1
Public Safety
Police
Commissioned Officers 123.0 123.0 123.0 123.0 121.5 119.0 124.0 129.0 129.0 129.0
Non‐Commissioned Officers 44.4 28.4 28.4 28.4 28.4 29.4 30.4 32.9 32.9 34.4
Fire
Commissioned Officers 136.0 145.0 145.0 145.0 140.0 145.0 0.0 0.0 0.0 0.0
Non‐Commissioned Officers 16.0 16.0 16.0 16.0 16.0 16.0 0.0 0.0 0.0 0.0
Public Works
Administration 3.0 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0
Transportation Systems 33.0 33.0 33.0 33.0 31.0 31.0 33.5 38.5 37.5 39.5
Utility Systems 29.5 29.5 25.5 25.5 23.5 23.5 25.5 27.5 27.5 28.5
Maintenance Services 78.0 78.0 80.0 80.0 80.0 82.0 82.0 87.0 88.0 92.0
Culture and Recreation
Parks/Recreation/Facilities/Human Svs 81.8 82.8 83.6 83.6 80.0 80.0 83.0 83.0 82.8 85.3
Library 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Museum 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Golf Course 9.5 9.5 9.5 9.5 9.5 9.5 9.5 10.5 9.8 9.8
Total 698.5 692.7 695.2 683.4 669.3 678.8 541.9 567.4 571.4 591.5
Source: City of Renton Finance Division
1 Operations of the Renton libraries transferred to King County Library System (KCLS) in 2010 as a result of voter‐approved annexation
2 Farmers's Market Program was moved from Community and Economic Department to Community Services Department in 2012.
3 City of Renton Fire transferred to the Renton Regional Fire Authority on July 1, 2016.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-27
TABLE 22
OPERATING INDICATORS BY FUNCTION
LAST TEN FISCAL YEARS
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
FUNCTION
Public Safety
Police
Physical arrests 3,464 2,810 1,968 1,725 1,515 1,653 1,492 2,099 2,373 2,517
Parking violations 4,748 4,757 4,855 4,799 4,049 4,464 4,664 4,992 5,114 5,992
Traffic violations 13,829 8,805 7,943 8,388 5,925 4,828 5,152 4,576 5,970 3,946
Photo Enorcement Violations 1 21,157 21,301 22,036 15,733 21,015 25,562 23,208 25,257 48,281 51,474
Infractions non traffic 240 446 16 210 149 125 53 43 55 35
Criminal non trafic 1,623 1,687 1,279 1,346 1,522 1,466 1,351 1,430 1,687 1,631
Fire2
Number of calls answered 13,045 12,752 13,667 13,848 14,337 14,945 0 ‐ ‐ ‐
Inspections 2,620 2,300 1,807 689 997 2,517 0 ‐ ‐ ‐
Transportation
Street resurfacing (miles)2.65 2.07 2.19 0.84 2.82 1.67 0.44 2.78 1.07 1.32
Aircraft Operations 80,679 80,005 93,406 93,911 100,544 112,335 118,568 131,702 145,811 128,030
Physical/Economic Environment
Building Permits Received 3,646 3,642 3,912 4,237 4,287 4,898 4,830 4,404 5,009 4,735
Building Permits Issued 3,562 3,555 3,765 4,038 4,204 4,691 4,661 4,092 4,732 4,474
Public Works Permits Received 1,182 1,334 1,337 1,488 1,526 1,472 1,468 1,270 1,450 1,335
Public Works Permits Issued 1,162 1,245 1,328 1,411 1,493 1,359 1,437 1,093 1,214 1,154
Solid Waste Utility
Recyclables collected (tons/yr) 9,836 12,565 13,509 13,616 13,993 15,218 17,846 12,331 14,075 13,309
Culture and Recreation
Athletic field attendance 93,000 93,000 94,000 94,000 94,000 93,000 94,000 56,000 65,897 93,504
Community Center admissions 3 108,896 105,458 98,022 102,525 102,308 102,312 98,282 92,026 85,762 85,762
Rounds of Golf 55,450 54,350 58,680 56,180 55,600 56,775 51,546 47,462 48,734 46,581
2 The Renton Regional Fire Authority formed July 1, 2016 replacing the City of Renton Fire Department.
3 Community Center admissions were updated through 2018 using CLASS reports for registered participants, membership pass scans, and drop ins.
Source: City of Renton
1 Photo Enforcement began in 2008.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-28
TABLE 23UTILITY SYSTEMS SUPPLEMENTAL OPERATING INFORMATIONLAST TEN FISCAL YEARS 12010 2011 2012 2013 2014 2015 2016 2017 2018 2019City Population90,927 92,590 93,910 95,540 97,130 98,470 101,300 102,700 104,100 104,700Water SystemService Area Population‐‐‐‐‐‐ 62,100 60,000 67,125 67,000 68,666 72,164 73,750Number of Connections:Single Family13,594 13,739 13,876 13,942 13,764 14,083 14,162 14,190 14,223 14,288Multi‐Family, Commercial, Industrial2,559 2,591 2,542 2,542 2,715 2,541 2,578 2,557 2,592 2,599Irrigation714721733734726738756755766765Fire Service604624645652652663682682690693Other 2555360591167481678890Total Connections17,526 17,728 17,856 17,929 17,973 18,099 18,259 18,251 18,359 18,435Water Production/Consumption (in hundreds of cubic feet ‐ ccf)(in hundreds of cubic feet ‐ ccf)Purchased27,282 88,645 51,087 43,815 47,774 54,951 43,009 56,667 57,192 39,003Production 3,293,586 3,244,628 3,172,169 3,197,643 3,306,194 3,512,789 3,410,648 3,490,563 3,524,353 3,364,884Consumption2,827,935 2,899,443 2,955,531 2,937,989 2,938,282 3,094,114 3,028,174 3,146,552 3,205,135 3,008,546Non‐revenue 492,933 433,830 267,725 303,469 415,686 473,626 425,483 400,678 376,410 395,341Consumption (thousands of gallons)Average Daily6,750 6,650 6,483 6,553 6,775 7,199 6,971 7,154 7,223 6,896Peak Daily12,826 12,476 11,445 12,361 12,411 13,590 12,751 13,098 12,335 11,687Sewer SystemService Area Population‐‐‐‐‐‐‐‐ 80,780 81,759 83,850 86,982 87,402 87,744Number of Connections:Single Family14,452 14,675 14,953 15,183 15,154 15,173 15,384 15,507 15,652 15,790Multi‐Family, Commercial, Industrial, Other2,451 2,457 2,453 2,450 2,708 2,713 2,704 2,714 2,727 2,726Out of City Connections9410812132180233242264279272Total Connections16,997 17,240 17,418 17,765 18,042 18,119 18,330 18,485 18,658 18,788Storm Drainages SystemService Area Population‐‐‐‐‐‐‐‐ 97,130 98,470 101,300 102,700 104,100 104,700Number of Connections:Single Family20,747 20,980 21,521 21,756 21,893 22,125 22,352 22,455 22,587 22,605Multi‐Family, Commercial, Industrial, Other1,813 1,847 1,761 1,738 1,728 1,732 1,744 1,750 1,755 1,736Total Connections22,560 22,827 23,282 23,494 23,621 23,857 24,096 24,205 24,342 24,341Solid Waste 3Service Area Population‐‐‐‐‐‐‐‐‐‐‐‐Number of Connections:Single Family16,350 16,688 16,927 16,958 17,000 17,154 17,129 16,926 23,577 24,034Multi‐Family, Commercial, Industrial, Other1,612 1,581 1,569 1,535 1,533 1,589 1,586 1,554 1,759 1,858Total Connections17,962 18,269 18,496 18,493 18,533 18,743 18,715 18,480 25,336 25,8921 Data for prior years provided where available.2 Includes wholesale water provided to the Skyway Water and Sewer District througha single metered connection.3 2018 numbers are sourced from the Republic Services Annual Report as the City of Renton no longer handles the billing for Solid Waste.2019 Comprehensive Annual Financial ReportCity of Renton, WashingtonStatistical Section, 7-29
TABLE 24
CAPITAL ASSETS STATISTICS BY FUNCTION
LAST TEN FISCAL YEARS
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
FUNCTION
Public safety
Police Stations 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Police Patrol Districts 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
Fire stations1 6.0 6.0 6.0 6.0 6.0 6.0 ‐‐ ‐ ‐
Transportation
Street (miles)264.5 266.1 266.1 266.1 294.0 304.1 315.5 311.0 311.0 311.0
Streetlights 3,935 4,015 4,172 4,182 4,302 4,342 4,720 4,878 5,120 5,120
Culture and recreation
Parks acreage 1,183.0 1,205.8 1,210.6 1,213.8 1,227.0 1,239.5 1,240.4 1,245.5 1,245.5 1,244.5
Parks 30.0 32.0 32.0 32 32 32.0 32.0 32.0 32.0 32.0
Swimming pools 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Tennis courts 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0
Community centers4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0
Waterworks Utility
Water mains (miles) 305.0 305.0 306.0 308.0 304.6 307.5 311.0 313.0 314.0 315.0
Fire hydrants 3,651 3,639 3,655 3,670 3,697 3,740 3,769 3,777 3,811 3,818
Sanitary sewers (miles) 217.7 219.3 219.9 223.4 225.9 231.2 232.1 233.9 234.6 235.8
Storm sewers (miles) 274.9 276.1 278.5 282.0 267.7 265.6 276.6 278.0 279.9 282.8
1 City of Renton Fire and ES Services employees transferred to the Renton Regional Fire Authority on July 1, 2016.
Source: City of Renton Departments
2 Includes Natural Area acreage, and developed/undeveloped park acreage for Neighborhood Parks, Community Parks, Regional Parks, Special Use Parks
and Corridors.
3 Developed Neighborhood, Community, Regional and Special Use Parks only. Two new parks were part of Benson Hill Annexation not previously
accounted for – Parkwood South Div #3 and SE 186th Place Properties.
4Community centers includes the Renton Community Center, the Renton Senior Activity Center, and two neighborhood centers that are regularly
programmed.
2019 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7-30
Renton City Hall
1055 South Grady Way
Renton, WA 98057
rentonwa.gov