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HomeMy WebLinkAboutMONTH 2021 08Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through August 31,  2021. 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.    Economic Development and Operating reserves are established internally in accordance with the City’s Policy on Stabilization  Funds, as outlined in the 2021‐2022 Adopted Budget.       General REVENUES: Taxes 61,445,642$       Licenses and permits 3,945,482            Grants / intergovernmental 3,996,735            Charges for services 5,540,152            Fines and penalties 3,118,743            Miscellaneous 782,783               Sale of general fixed assets 41,718                  Investment Earnings 190,536               Insurance recoveries 25,288                  TOTAL REVENUES 79,087,079          EXPENDITURES: Personnel 39,627,149          Supplies 838,973               Contracted Services 12,177,689          Capital Outlay 1,002,472            Internal Services 8,603,383            TOTAL EXPENDITURES 62,249,666          Transfers In 23,150                  Transfers Out 1,532,525            NET TRANSFERS (1,509,375)           CHANGE IN FUND BALANCE 15,328,038          BEGINNING FUND BALANCE, Jan 1 54,456,582          ENDING FUND BALANCE, Aug 31 69,784,620          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,405,500            AVAILABLE FUND BALANCE, Aug 31 57,879,120$       Monthly Financial Report August 2021  Monthly Financial Report                                                               City of Renton, Washington August 2021  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.    Debt service reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the  2021‐2022 Adopted Budget.        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 114,740$               Investment Earnings 14,414                    TOTAL REVENUES 129,154                 EXPENDITURES: Principal 595,158                 Interest 824,069                 TOTAL EXPENDITURES 1,419,227              Transfers In 1,490,188              NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 200,115                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Aug 31 5,210,744$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,493,169$            Hotel‐Motel Tax Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 147,356$               ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              55,098                    ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                              21,897                    Contributions 20,000                    ‐                               ‐                              8,118                      ‐                               Investment Earnings 2,324                     1,790                     936                        2,074                     418                         TOTAL REVENUES 169,680                56,888                   936                        10,192                   22,315                    EXPENDITURES: Supplies ‐                              6,184                      ‐                              21,771                    ‐                               Contracted Services 201,440                33,600                    ‐                              36,544                    ‐                               Capital Outlay ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 201,440                39,784                    ‐                              142,719                 ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (31,760)                 17,104                   936                        (132,527)               22,315                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Aug 31 861,844$              694,814$              349,762$              739,922$              172,952$               Monthly Financial Report                                                               City of Renton, Washington August 2021  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 Fire Impact  Mitigation Transportation  Impact  Mitigation REET 1REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                        3,068,612$       3,068,613$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          1,168,041         5,049,505          ‐                           ‐                           Charges for services 190,755            179,106            1,858,243          ‐                           ‐                          157,595             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          28,326                ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                          11,000                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 5,217                 5,793                 9,599                 8,256                 12,205               54,554               42,836                ‐                          21,614                TOTAL REVENUES 195,972            184,899            1,867,842         3,076,868         3,080,818         1,471,190         5,120,667          ‐                          21,614                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          302,814            40,842                ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          1,670                  ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          21,848               69,842                ‐                          54,727                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          2,296,622         8,352,244          ‐                          13,800                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          2,621,284         8,464,598          ‐                          68,527                Transfers In 1,179,783          ‐                           ‐                           ‐                          3,177,680          ‐                           ‐                           ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                          4,357,463          ‐                          16,679                ‐                           NET TRANSFERS 1,179,783          ‐                           ‐                           ‐                          3,177,680         (4,357,463)         ‐                          (16,679)              ‐                           CHANGE IN FUND BALANCE 1,375,755         184,899            1,867,842         3,076,868         6,258,498         (5,507,557)        (3,343,931)        (16,679)             (46,913)              BEGINNING FUND BALANCE, Jan 1 1,713,833         2,191,452         3,154,954         2,042,269         3,411,866         20,298,663       16,792,413       16,679               8,356,704          ENDING FUND BALANCE, Aug 31 3,089,588$       2,376,351$       5,022,796$       5,119,137$       9,670,364$       14,791,106$    13,448,482$     ‐$                        8,309,791$        Monthly Financial Report                                                               City of Renton, Washington August 2021  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.    Amounts restricted for debt service are in accordance with revenue bond requirements. Operating reserves are established  internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.          Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        67,875$              ‐$                       23,625$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         1,290,298           Charges for services 68,684              12,807,403      2,113,349        11,804,191       7,385,810          11,634,924      8,535,667           Fines and penalties ‐                          ‐                          ‐                          ‐                          5,133                   ‐                          ‐                            Rents, leases, and misc fees 2,114,519         ‐                         281,246           120,791              ‐                            ‐                          ‐                            Interest and other misc 21,418              7,235                2,909                448,877             546,430             11,673              501,642              TOTAL REVENUES 2,204,621        12,884,134      2,397,504        12,373,859       8,005,248          11,646,597      10,351,232        EXPENSES: Personnel 720,811           347,434           1,031,744        3,072,347         1,494,920           ‐                         2,490,778           Supplies 14,078              471                   249,306           571,124             58,635                ‐                         85,569                Contracted Services 303,145           12,989,042      119,315           2,083,430         1,415,997          11,576,911      1,344,049           Internal Services 200,270           160,046           175,129           1,350,824         1,012,616           ‐                         1,381,325           TOTAL OPERATING EXPENSES 1,238,304        13,496,993      1,575,494        7,077,725         3,982,168          11,576,911      5,301,721           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 966,317           (612,859)          822,010           5,296,134         4,023,080          69,686              5,049,511           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,375               42,551                ‐                         50,985                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,193             42,551                ‐                         50,985                CAPITAL OUTLAY 430,104            ‐                         12,662              2,467,985         4,799,127           ‐                         4,122,420           Transfers In ‐                          ‐                         34,050               ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                         94                      34,050              2,626                 2,251                   ‐                         20,598                NET TRANSFERS ‐                         (94)                     ‐                         (2,626)                (2,251)                 ‐                         (20,598)               CHANGE IN FUND BALANCE 536,213           (612,953)          809,348           2,381,330         (820,849)            69,686              855,508              BEGINNING FUND BALANCE, Jan 1 7,558,405        2,771,562        476,746           40,776,314       23,996,217       4,729,749        21,610,356        ENDING FUND BALANCE, Aug 31 8,094,618$      2,158,609$      1,286,094$      43,157,644$     23,175,368$     4,799,435$      22,465,864$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 223,124           400,000           641,500           1,614,304         914,224             380,000           1,116,680           AVAILABLE FUND BALANCE 7,871,494$      1,758,609$      644,594$         40,149,290$     21,599,917$     4,419,435$      20,594,316$      Monthly Financial Report                                                               City of Renton, Washington August 2021  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.    Insurance reserves for the Healthcare Fund are established at a rate of 31% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           130,854$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             40,651                   Charges for services: Equipment rental m&o 1,584,365             ‐                             3,217,950             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             232,495                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             344,871                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,920,265             ‐                              ‐                              ‐                              Interest and other misc 17,454                  49,511                  10,172                  1,170                    384                        15,786                  43,378                   Internal service fund misc: Vehicle / equipment capital recovery 1,751,144             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             870,074                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             949,084                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             8,147,661            1,312,342             Other misc 335                        41,181                  25,192                  76,100                   ‐                             239,929                63,640                   Disposal of capital assets 460                         ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             101,377                 ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,353,758            2,011,227            3,384,168            2,997,535            577,750                8,403,376            1,460,011             EXPENSES: Personnel 709,956                833,799                1,916,971            1,938,228            443,183                7,864,538            706,396                 Supplies 872,216                30                          270,389                308,713                15,845                  844                         ‐                              Contracted Services 214,102                2,214,167            1,232,570            863,922                103,671                309,870                51,376                   Internal Services 16,969                   ‐                              ‐                             64,841                  1,000                    40,088                   ‐                              TOTAL OPERATING EXPENSES 1,813,243            3,047,996            3,419,930            3,175,704            563,699                8,215,340            757,772                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,540,515            (1,036,769)           (35,762)                 (178,169)              14,051                  188,036                702,239                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 256,740                 ‐                             116,202                40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             113,928                 ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                             52,868                   ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             (52,868)                 113,928                 ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 1,283,775            (1,089,637)           (38,036)                 (218,232)              14,051                  188,036                702,239                 BEGINNING FUND BALANCE, Jan 1 6,376,259            19,860,208          3,939,941            504,167                151,624                5,773,429            16,541,245           ENDING FUND BALANCE, Aug 31 7,660,034$          18,770,571$        3,901,905$          285,935$             165,675$             5,961,465$          17,243,484$         Insurance Reserves ‐                             17,708,251           ‐                              ‐                              ‐                             3,774,249            17,243,484           AVAILABLE FUND BALANCE 7,660,034$          1,062,320$          3,901,905$          285,935$             165,675$             2,187,216$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington August 2021  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.       Firemens' Pension Custodial Fund REVENUES: Grants / intergovernmental 171,854$               ‐$                             Investment Earnings 187,097                 ‐                               Collected for Others ‐                              1,139,232              TOTAL REVENUES 358,951                1,139,232              EXPENDITURES: Personnel 151,480                 ‐                               Contracted Services 12,125                    ‐                               Distributions to Others ‐                              968,418                 TOTAL EXPENDITURES 163,605                968,418                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 195,346                170,814                 BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Aug 31 8,103,658$           170,814$               Monthly Financial Report                                                               City of Renton, Washington August 2021  Page 7 of 7                 CONTACT INFORMATION  This report is prepared by the Finance 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 Kari Roller at kroller@rentonwa.gov.  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through August 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  08/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  08/31/21 Ending Balance GENERAL FUND 54,456,582      106,428,899    79,110,229      133,566,811    117,568,755    63,782,191      69,784,620       SPECIAL REVENUE FUNDS: 2,943,226        346,874           260,011           3,203,237        1,621,957        383,943           2,819,294         110 Hotel Motel 893,604           225,000           169,680           1,063,284        501,197           201,440           861,844            127 Cable Communication 677,710           97,674             56,888             734,598           97,674             39,784             694,814            135 Springbrook Wetlands Bank 348,826           24,200             936                  349,762            ‐                        ‐                       349,762            140 Police Seizure 872,449            ‐                       10,192             882,641           872,449           142,719           739,922            141 Police CSAM Seizure 150,637            ‐                       22,315             172,952           150,637            ‐                       172,952            DEBT SERVICE FUND 5,010,629        7,493,298        1,619,342        6,629,971        7,153,019        1,419,227        5,210,744         CAPITAL PROJECT FUNDS (CIP): 57,978,833      49,352,571      19,377,333      77,356,166      88,353,225      15,528,551      61,827,615       303 Community Services Mitigation 1,713,833        1,571,464        1,375,755        3,089,588        2,080,328         ‐                       3,089,588         304 Fire Mitigation 2,191,452        99,000             184,899           2,376,351        436,987            ‐                       2,376,351         305 Transportation Mitigation 3,154,954        200,000           1,867,842        5,022,796        172,869            ‐                       5,022,796         308 REET1 2,042,269        2,250,000        3,076,868        5,119,137        2,865,000         ‐                       5,119,137         309 REET2 3,411,866        5,427,680        6,258,498        9,670,364        7,066,705         ‐                       9,670,364         316 Municipal Facilities CIP 20,298,663      9,298,399        1,471,190        21,769,853      29,421,290      6,978,747        14,791,106       317 Transportation CIP 16,792,413      30,431,028      5,120,667        21,913,080      45,420,592      8,464,598        13,448,482       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        75,000             21,614             8,378,318        872,775           68,527             8,309,791         ENTERPRISE FUNDS: 101,919,349    100,835,029    59,897,245      161,816,594    162,046,971    56,678,962      105,137,632     4X2 Airport Operating & CIP 7,558,405        3,109,929        2,204,621        9,763,026        9,365,368        1,668,408        8,094,618         403 Solid Waste Utility 2,771,562        22,954,522      12,884,134      15,655,696      22,902,330      13,497,087      2,158,609         4X4 Golf Operating & CIP 476,746           3,126,584        2,431,554        2,908,300        2,890,419        1,622,206        1,286,094         4X5 Water Operating & CIP 40,776,314      17,972,403      12,373,859      53,150,173      48,985,805      9,992,529        43,157,644       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      8,005,248        32,001,465      28,637,433      8,826,097        23,175,368       416 King County Metro 4,729,749        17,607,838      11,646,597      16,376,346      17,607,838      11,576,911      4,799,435         4X7 Surface Water Operating & CIP 21,610,356      24,277,267      10,351,232      31,961,588      31,657,778      9,495,724        22,465,864       INTERNAL SERVICE FUNDS: 53,146,873      38,947,486      22,301,753      75,448,626      37,627,541      21,459,557      53,989,069       501 Equipment Repair/Replacement 6,376,259        6,463,395        3,353,758        9,730,017        5,289,546        2,069,983        7,660,034         502 Insurance 19,860,208      3,533,775        2,011,227        21,871,435      3,698,515        3,100,864        18,770,571       503 Information Services 3,939,941        6,614,378        3,498,096        7,438,037        7,374,069        3,536,132        3,901,905         504 Facilities 504,167           5,996,730        2,997,535        3,501,702        6,169,069        3,215,767        285,935            505 Communications 151,624           1,155,732        577,750           729,374           1,152,826        563,699           165,675            512 Insurance, Healthcare 5,773,429        12,477,543      8,403,376        14,176,805      12,580,831      8,215,340        5,961,465         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        1,460,011        18,001,256      1,362,685        757,772           17,243,484       FIDUCIARY FUNDS: 7,908,312        385,000           1,498,183        9,406,495        210,475           1,132,023        8,274,472         611 Firemens' Pension 7,908,312        385,000           358,951           8,267,263        210,475           163,605           8,103,658         630 Custodial Fund ‐                        ‐                       1,139,232        1,139,232         ‐                       968,418           170,814            TOTAL FUNDS 283,363,804    303,789,157    184,064,096    467,427,900    414,581,943    160,384,454    307,043,446