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HomeMy WebLinkAboutMONTH 2020 07Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through July 31, 2020.  A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s financial  management policies.     GENERAL FUND  The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund  is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation,  human services, municipal court, street maintenance and planning, economic development, and administrative functions.  The table below displays the year‐to‐date revenues and expenditures for the General Fund.           General REVENUES: Taxes 44,582,936$       Licenses and permits 3,043,159            Grants / intergovernmental 2,377,702            Charges for services 4,511,836            Fines and penalties 1,957,008            Contributions 999,651               Sale of general fixed assets 18,600                  Investment Earnings 636,591               TOTAL REVENUES 58,127,483          EXPENDITURES: Personnel 34,860,048          Supplies 770,866               Contracted Services 10,374,280          Capital Outlay 151,129               Internal Services 7,305,897            TOTAL EXPENDITURES 53,462,220          TRANSFERS IN 15,457,006          TRANSFERS OUT 12,871,715          NET TRANSFERS 2,585,291            CHANGE IN FUND BALANCE 7,250,554            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Jul 31 55,307,536$       Monthly Financial Report July 2020  Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 2 of 7   DEBT SERVICE FUND   Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to  the City’s general obligation bond issues. The table below displays the year‐to‐date revenues and expenditures for the City’s  debt service fund.        SPECIAL REVENUE FUNDS  Special revenue funds are used to account for revenues that are to be used for a specific purpose as required by law or  legislative action. The table below displays the year‐to‐date revenues and expenditures for the City’s special revenue funds.           General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 222,092$               Investment Earnings 23,452                    TOTAL REVENUES 245,544                 EXPENDITURES: Principal 396,622                 Interest 907,225                 TOTAL EXPENDITURES 1,303,847              TRANSFERS IN 2,737,154              NET TRANSFERS 2,737,154              CHANGE IN FUND BALANCE 1,678,851              BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Jul 31 5,678,308$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 152,817$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              60,876                    ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              8,922                      Investment Earnings 5,513                     789                        3,465                     1,935                     1,007                     189                         TOTAL REVENUES 163,330                789                        64,341                   1,935                     1,007                     9,111                      EXPENDITURES: Supplies ‐                              290                         ‐                               ‐                              26,470                    ‐                               Contracted Services 123,207                21,369                   25,930                    ‐                              16,176                   1,501                      TOTAL EXPENDITURES 123,207                21,659                   25,930                    ‐                              49,953                   1,501                      TRANSFERS IN ‐                              180,660                 ‐                               ‐                              711,102                126,011                 NET TRANSFERS ‐                              180,660                 ‐                               ‐                              711,102                126,011                 CHANGE IN FUND BALANCE 40,123                   159,790                38,411                   1,935                     662,156                133,621                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Jul 31 984,012$              258,655$              642,171$              347,593$              662,156$              133,621$               Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 3 of 7   CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The  table below displays the year‐to‐date revenues and expenditures for the City’s capital project funds.      CS Impact Mitigation Transportation  Impact  Mitigation REET 1REET 2 Municipal  Facilities CIP Capital  Investment Housing  Opportunity New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,532,179$       1,532,179$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          522,438            1,150,775          ‐                           ‐                           ‐                           Charges for services 374,420            816,209             ‐                           ‐                          140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          17,562                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          560,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 11,874               19,240               3,330                 3,330                 157,458            104,312            6,309                 265                    46,880                TOTAL REVENUES 386,294            835,449            1,535,509         1,535,509         1,240,036         1,522,649         6,309                 265                    46,880                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          298,529            63,869                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          127,910             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          180,752            93,023                ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          4,263,202         3,267,887          ‐                           ‐                          244,925             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          4,742,483         3,552,689          ‐                           ‐                          244,925             TRANSFERS IN ‐                           ‐                          1,143,855         1,143,855          ‐                          760,000             ‐                           ‐                           ‐                           TRANSFERS OUT ‐                           ‐                           ‐                           ‐                          2,323,680          ‐                          2,576,659          ‐                           ‐                           NET TRANSFERS ‐                           ‐                          1,143,855         1,143,855         (2,323,680)        760,000            (2,576,659)         ‐                           ‐                           CHANGE IN FUND BALANCE 386,294            835,449            2,679,364         2,679,364         (5,826,127)        (1,270,040)        (2,570,350)        265                    (198,045)            BEGINNING FUND BALANCE, Jan 1 1,886,999         2,942,344          ‐                           ‐                          26,395,567       18,947,853       2,570,350         16,408               8,551,401          ENDING FUND BALANCE, Jul 31 2,273,293$       3,777,793$       2,679,364$       2,679,364$       20,569,440$    17,677,813$     ‐$                        16,673$            8,353,356$        Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 4 of 7   ENTERPRISE FUNDS  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business  enterprises. The table below displays the year‐to‐date revenues and expenses of the City’s enterprise funds.          Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        60,275$              ‐$                       39,725$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         642,014              Charges for services 46,945              11,649,787      1,154,793        8,972,921         6,272,881          9,831,513        7,086,106           Rents, leases, and misc fees 1,749,365         ‐                         174,514           102,342              ‐                            ‐                          ‐                            Interest and other misc 36,581              17,679              2,276                507,613             350,502             34,718              267,989              TOTAL REVENUES 1,832,891        11,757,130      1,331,583        9,582,876         6,683,921          9,866,231        8,035,834           EXPENSES: Personnel 547,361           336,193           807,254           2,510,506         1,339,185           ‐                         2,163,905           Supplies 17,902              3,252                193,627           444,439             35,803                ‐                         65,224                Contracted Services 215,771           10,106,682      96,514              1,681,827         1,146,161          9,525,536        992,071              Internal Services 183,423           266,132           199,543           1,201,961         853,374              ‐                         1,018,472           TOTAL OPERATING EXPENSES 964,457           10,712,259      1,296,938        5,838,733         3,374,523          9,525,536        4,239,672           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 868,434           1,044,871        34,645              3,744,143         3,309,398          340,695           3,796,162           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         357,101              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         357,101              CAPITAL OUTLAY 187,310            ‐                          ‐                         2,019,261         354,986              ‐                         1,070,166           TRANSFERS IN ‐                          ‐                         44,333               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         47,028              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 679,761           1,044,871        31,950              1,273,139         2,909,014          340,695           2,368,895           BEGINNING FUND BALANCE, Jan 1 6,259,402        2,266,127        173,750           37,569,067       19,832,351       5,961,906        18,377,556        ENDING FUND BALANCE, Jul 31 6,939,163$      3,310,998$      205,700$         38,842,206$     22,741,365$     6,302,601$      20,746,451$      Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 5 of 7   INTERNAL SERVICE FUNDS  Internal service funds are used to account for the goods and services furnished by one City department to other City  departments on a cost reimbursement basis. The table below displays the year‐to‐date revenues and expenses of the City’s  internal service funds.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           145,347$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 1,771,970             ‐                             3,134,461             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             103,341                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             187,981                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,420,702             ‐                              ‐                              ‐                              Interest and other misc 39,138                  107,005                25,452                  7,468                    4,482                    31,070                  89,431                   Internal service fund misc: Vehicle / equipment capital recovery 374,662                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             990,564                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             823,616                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             6,385,709            947,732                 Other misc 199                         ‐                             1,942                    1                             ‐                             677,182                 ‐                              Insurance recoveries ‐                             13,999                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 2,185,969            1,935,184            3,307,202            2,450,006            295,804                7,093,961            1,072,408             EXPENSES: Personnel 632,579                509,340                1,694,758            1,688,133            510,317                5,429,395            624,325                 Supplies 568,058                401                        226,916                303,844                18,147                  6,881                     ‐                              Contracted Services 132,627                1,351,634            1,220,755            789,367                148,400                295,121                29,410                   Internal Services 19,073                   ‐                             1,052                    40,076                  2,299                    35,251                   ‐                              TOTAL OPERATING EXPENSES 1,352,337            1,861,375            3,143,481            2,821,420            679,163                5,766,648            653,735                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 833,632                73,809                  163,721                (371,414)              (383,359)              1,327,313            418,673                 CAPITAL OUTLAY 967,039                 ‐                             39,687                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             12,433                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                             4,500,000             ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                             (4,500,000)           12,433                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE (133,407)              (4,426,191)           136,467                (368,522)              (387,588)              1,327,313            418,673                 BEGINNING FUND BALANCE, Jan 1 6,851,811            19,095,508          4,490,062            1,220,276            803,561                5,151,648            15,799,729           ENDING FUND BALANCE, Jul 31 6,718,404$          14,669,317$        4,626,529$          851,754$             415,973$             6,478,961$          16,218,402$         Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 6 of 7   FIDUCIARY FUNDS  Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use  as they are not City assets. The table below displays year‐to‐date revenues and expenditures of the City’s fiduciary funds.       Fire Mitigation Firemens' Pension REVENUES: Grants / intergovernmental ‐$                            165,917$               Charges for services 89,496                    ‐                               Investment Earnings 12,138                   35,019                    TOTAL REVENUES 101,634                200,936                 EXPENDITURES: Personnel ‐                              121,457                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              124,857                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 101,634                76,079                    BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Jul 31 2,222,192$           7,641,981$            Monthly Financial Report                                                               City of Renton, Washington July 2020  Page 7 of 7       CONTACT INFORMATION  This report is prepared by the Finance Division of the Administrative Services Department. For additional financial  information, please also review our website: http://www.rentonwa.gov/.  For any questions about the report, please feel  free to contact Misty Baker at mbaker@rentonwa.gov or Jan Hawn at jhawn@rentonwa.gov.  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through July 31, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  07/31/20 Total Funds  Available Budgeted  Expenditure Expenditure  07/31/20 Ending Balance GENERAL FUND 48,056,982      131,167,346    73,584,489      121,641,471    124,162,622    66,333,935      55,307,536       SPECIAL REVENUE FUNDS: 1,992,172        1,315,447        1,258,286        3,250,458        1,673,139        222,250           3,028,208         110 Hotel Motel 943,889           200,000           163,330           1,107,219        466,562           123,207           984,012            125 Municipal Art 98,865             180,660           181,449           280,314           271,790           21,659             258,655            127 Cable Communication 603,760           97,674             64,341             668,101           97,674             25,930             642,171            135 Springbrook Wetlands Bank 345,658            ‐                       1,935               347,593            ‐                        ‐                       347,593            140 Police Seizure ‐                       711,102           712,109           712,109           711,102           49,953             662,156            141 Police CSAM Seizure ‐                       126,011           135,122           135,122           126,011           1,501               133,621            DEBT SERVICE FUND 3,999,457        8,143,007        2,982,698        6,982,155        7,162,386        1,303,847        5,678,308         CAPITAL PROJECT FUNDS (CIP): 61,310,922      41,900,304      10,156,610      71,467,532      87,003,334      13,440,436      58,027,096       303 Community Services Mitigation 1,886,999        86,500             386,294           2,273,293        945,909            ‐                       2,273,293         305 Transportation Mitigation 2,942,344        1,435,875        835,449           3,777,793        1,811,987         ‐                       3,777,793         308 REET1 ‐                       3,143,855        2,679,364        2,679,364        1,775,000         ‐                       2,679,364         309 REET2 ‐                       3,143,855        2,679,364        2,679,364        1,775,000         ‐                       2,679,364         316 Municipal Facilities CIP 26,395,567      6,880,571        1,240,036        27,635,603      32,171,063      7,066,163        20,569,440       317 Transportation CIP 18,947,853      27,128,339      2,282,649        21,230,502      45,298,768      3,552,689        17,677,813       326 Housing Opportunity 2,570,350        6,309               6,309               2,576,659        2,576,659        2,576,659         ‐                        336 New Library Development 16,408              ‐                       265                  16,673              ‐                        ‐                       16,673              346 New Family First Center Dvlpmnt 8,551,401        75,000             46,880             8,598,281        648,948           244,925           8,353,356         ENTERPRISE FUNDS: 90,440,159      99,238,882      49,134,799      139,574,958    153,576,378    40,486,474      99,088,484       4X2 Airport Operating & CIP 6,259,402        3,051,767        1,832,891        8,092,293        7,848,424        1,153,130        6,939,163         403 Solid Waste Utility 2,266,127        19,616,816      11,757,130      14,023,257      19,367,083      10,712,259      3,310,998         4X4 Golf Operating & CIP 173,750           2,872,920        1,375,916        1,549,666        2,476,682        1,343,966        205,700            4X5 Water Operating & CIP 37,569,067      19,516,652      9,582,876        47,151,943      49,940,511      8,309,737        38,842,206       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      6,683,921        26,516,272      25,800,350      3,774,907        22,741,365       416 King County Metro 5,961,906        17,007,226      9,866,231        15,828,137      17,007,226      9,525,536        6,302,601         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      8,035,834        26,413,390      31,136,102      5,666,939        20,746,451       INTERNAL SERVICE FUNDS: 53,412,595      30,866,021      18,361,563      71,774,158      40,371,739      21,794,818      49,979,340       501 Equipment Repair/Replacement 6,851,811        3,599,714        2,185,969        9,037,780        4,815,199        2,319,376        6,718,404         502 Insurance 19,095,508      3,371,506        1,935,184        21,030,692      7,829,878        6,361,375        14,669,317       503 Information Services 4,490,062        5,509,868        3,319,635        7,809,697        7,635,416        3,183,168        4,626,529         504 Facilities 1,220,276        4,313,651        2,458,602        3,678,878        5,079,561        2,827,124        851,754            505 Communications 803,561           1,177,126        295,804           1,099,365        1,263,537        683,392           415,973            512 Insurance, Healthcare 5,151,648        12,649,694      7,093,961        12,245,609      12,499,905      5,766,648        6,478,961         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           1,072,408        16,872,137      1,248,243        653,735           16,218,402       FIDUCIARY FUNDS: 9,686,460        567,000           302,570           9,989,030        314,283           124,857           9,864,173         304 Fire Mitigation 2,120,558        99,000             101,634           2,222,192        113,808            ‐                       2,222,192         611 Firemens' Pension 7,565,902        468,000           200,936           7,766,838        200,475           124,857           7,641,981         TOTAL FUNDS 268,898,747 313,198,007 155,781,015 424,679,762 414,263,881 143,706,617 280,973,145