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HomeMy WebLinkAboutMONTH 2021 11Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through November 30,  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 87,064,022$       Licenses and permits 4,882,650            Grants / intergovernmental 5,652,918            Charges for services 7,986,885            Fines and penalties 4,238,928            Miscellaneous 1,330,638            Sale of general fixed assets 41,718                  Investment Earnings 255,113               Insurance recoveries 27,185                  TOTAL REVENUES 111,480,057       EXPENDITURES: Personnel 54,897,748          Supplies 1,234,999            Contracted Services 17,827,460          Capital Outlay 1,339,068            Internal Services 12,846,300          TOTAL EXPENDITURES 88,145,575          Transfers In 35,113                  Transfers Out 3,031,795            NET TRANSFERS (2,996,682)           CHANGE IN FUND BALANCE 20,337,800          BEGINNING FUND BALANCE, Jan 1 54,456,582          Prior Period Adjustment (775,836)              BEGINNING FUND BALANCE, Jan 1 ‐ restated 53,680,746          ENDING FUND BALANCE, Nov 30 74,018,546$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 24,533,439          AVAILABLE FUND BALANCE, Nov 30 46,985,107$       Monthly Financial Report November 2021  Monthly Financial Report                                                               City of Renton, Washington November 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 18,564                    TOTAL REVENUES 133,304                 EXPENDITURES: Principal 595,158                 Interest 825,465                 TOTAL EXPENDITURES 1,420,623              Transfers In 2,980,375              NET TRANSFERS 2,980,375              CHANGE IN FUND BALANCE 1,693,056              BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Nov 30 6,703,685$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 3,986,110$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 254,709$               ‐$                            2,851,534$            ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              72,259                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              25,096                    Contributions 25,000                    ‐                               ‐                               ‐                              10,836                    ‐                               Investment Earnings 2,966                     2,299                     1,121                     1,191                     2,609                     544                         Sale of Fixed Assets ‐                               ‐                               ‐                              867                         ‐                               ‐                               TOTAL REVENUES 282,675                74,558                   2,852,655             2,058                     13,445                   25,640                    EXPENDITURES: Personnel ‐                               ‐                               ‐                              2,116                      ‐                               ‐                               Supplies ‐                              6,184                      ‐                               ‐                              21,771                    ‐                               Contracted Services 264,428                44,140                   11,207                   1,654                     51,986                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 264,428                50,324                   11,207                   3,770                     158,161                 ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 18,247                   24,234                   2,841,448             (1,712)                    (144,716)               25,640                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                 ‐                              348,826                872,449                150,637                 Prior Period Adjustment ‐                               ‐                               ‐                              (109,200)                ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 893,604                677,710                 ‐                              239,626                872,449                150,637                 ENDING FUND BALANCE, Nov 30 911,851$              701,944$              2,841,448$           237,914$              727,733$              176,277$               Monthly Financial Report                                                               City of Renton, Washington November 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 School District  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                         ‐$                        4,471,032$       4,471,032$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          1,168,042         7,094,723          ‐                           ‐                           Charges for services 214,947            192,735            2,066,799         485,936             ‐                           ‐                          157,795             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          30,815                ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          11,000                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 7,476                 7,528                 13,314               254                    12,324               19,589               64,693               52,684                ‐                          27,645                TOTAL REVENUES 222,423            200,263            2,080,113         486,190            4,483,356         4,490,621         1,481,530         7,178,222          ‐                          27,645                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          420,987            122,041             ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          70,270                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                          478,500             ‐                           ‐                          104,295            333,323             ‐                          72,604                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          3,882,549         12,781,500        ‐                          103,878             TOTAL EXPENDITURES ‐                           ‐                          478,500             ‐                           ‐                          4,407,831         13,307,134        ‐                          176,482             Transfers In 1,179,783          ‐                           ‐                           ‐                           ‐                          3,177,680          ‐                           ‐                           ‐                          41,182                Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          4,752,558          ‐                          16,679                ‐                           NET TRANSFERS 1,179,783          ‐                           ‐                           ‐                           ‐                          3,177,680         (4,752,558)         ‐                          (16,679)             41,182                CHANGE IN FUND BALANCE 1,402,206         200,263            2,080,113         7,690                 4,483,356         7,668,301         (7,678,859)        (6,128,912)        (16,679)             (107,655)            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          Prior Period Adjustment ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          109,200             ‐                           ‐                           BEGINNING FUND BALANCE, Jan 1 ‐ restated 1,713,833         2,191,452         3,154,954          ‐                          2,042,269         3,411,866         20,298,663       16,901,613       16,679               8,356,704          ENDING FUND BALANCE, Nov 30 3,116,039$       2,391,715$       5,235,067$       7,690$               6,525,625$       11,080,167$    12,619,804$    10,772,701$     ‐$                        8,249,049$        Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                        ‐$                        ‐$                        ‐$                        82,400$              ‐$                       27,375$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         936,498              Charges for services 3,062,392        16,856,293      2,676,956        17,423,402       10,360,941       16,339,951      11,667,706        Fines and penalties ‐                          ‐                          ‐                          ‐                          5,133                   ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         395,657           191,624              ‐                            ‐                          ‐                            Interest and other misc 27,408              9,609                4,144                486,047             674,646             15,276              2,312,348           TOTAL REVENUES 3,108,937        16,935,398      3,076,757        18,101,073       11,123,120       16,355,227      14,943,927        EXPENSES: Personnel 985,040           474,350           1,425,379        4,187,474         2,093,738           ‐                         3,401,846           Supplies 38,724              2,131                317,878           779,995             81,578                ‐                         114,780              Contracted Services 607,178           16,260,165      154,317           2,872,754         2,086,427          15,904,874      2,093,352           Internal Services 295,292           230,869           262,692           1,904,709         1,450,210           ‐                         1,918,141           TOTAL OPERATING EXPENSES 1,926,234        16,967,515      2,160,266        9,744,932         5,711,953          15,904,874      7,528,119           CAPITAL, AND TRANSFERS 1,182,703        (32,117)            916,491           8,356,141         5,411,167          450,353           7,415,808           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,525               42,611                ‐                         51,075                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,343             42,611                ‐                         51,075                CAPITAL OUTLAY 838,210            ‐                         12,662              3,146,297         7,066,419           ‐                         5,997,737           Transfers In ‐                          ‐                         51,075               ‐                           ‐                            ‐                          ‐                            Transfers Out 6,276                94                      51,075              6,614                 6,239                   ‐                         24,586                NET TRANSFERS (6,276)               (94)                     ‐                         (6,614)                (6,239)                 ‐                         (24,586)               CHANGE IN FUND BALANCE 338,217           (32,211)            903,829           4,758,887         (1,704,102)        450,353           1,342,410           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, Nov 30 7,896,622$      2,739,351$      1,380,575$      45,535,201$     22,292,115$     5,180,102$      22,952,766$      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           1,055,480           AVAILABLE FUND BALANCE 7,673,498$      2,339,351$      739,075$         42,526,847$     20,716,664$     4,800,102$      21,142,418$      Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                            ‐$                           177,626$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             40,651                   Charges for services: Equipment rental m&o 2,362,576             ‐                             4,826,925             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             348,743                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             516,831                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             4,380,398             ‐                              ‐                              ‐                              Interest and other misc 23,757                  63,452                  13,438                  1,788                    599                        20,308                  56,173                   Internal service fund misc: Vehicle / equipment capital recovery 2,670,680             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,305,111             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,318,278             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             11,233,693          1,968,513             Other misc 491                        41,181                  25,192                  135,957                18,275                  319,423                85,910                   Disposal of capital assets 177,671                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             196,827                 ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 5,235,175            2,924,849            5,043,181            4,518,143            884,448                11,573,424          2,151,247             EXPENSES: Personnel 968,391                1,022,440            2,580,088            2,716,374            605,458                10,088,876          999,432                 Supplies 1,219,601            30                          385,593                528,964                22,270                  1,669                     ‐                              Contracted Services 265,436                2,374,398            1,761,477            1,197,079            132,484                418,740                62,618                   Internal Services 22,754                   ‐                              ‐                             97,115                  1,500                    60,132                   ‐                              TOTAL OPERATING EXPENSES 2,476,182            3,396,868            4,727,158            4,539,532            761,712                10,569,417          1,062,050             AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 2,758,993            (472,019)              316,023                (21,389)                 122,736                1,004,007            1,089,197             TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 413,829                 ‐                             88,388                  40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             129,287                353,913                 ‐                              ‐                              ‐                              Transfers Out ‐                             52,868                   ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             (52,868)                 129,287                353,913                 ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 2,345,164            (524,887)              356,922                292,461                122,736                1,004,007            1,089,197             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, Nov 30 8,721,423$          19,335,321$        4,296,863$          796,628$             274,360$             6,777,436$          17,630,442$         Insurance Reserves ‐                             18,650,158           ‐                              ‐                              ‐                             3,774,249            17,630,442           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 8,721,423$          685,163$             4,296,863$          796,628$             274,360$             3,003,187$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington November 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: Intergovernmental 171,854$               ‐$                             Investment Earnings 518,965                 ‐                               Collected for Others ‐                              1,416,564              TOTAL REVENUES 690,819                1,416,564              EXPENDITURES: Distributions to Others 220,436                1,382,695              TOTAL EXPENDITURES 220,436                1,382,695              NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 470,383                33,869                    BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Nov 30 8,378,695$           33,869$                 Monthly Financial Report                                                               City of Renton, Washington November 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 November 30, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  11/30/21 Total Funds  Available Budgeted  Expenditure Expenditure  11/30/21 Ending Balance GENERAL FUND 54,456,582      126,195,473    110,739,334    165,195,916    127,627,610    91,177,370      74,018,546       SPECIAL REVENUE FUNDS: 2,943,226        2,853,474        3,141,831        6,085,057        2,756,543        487,890           5,597,167         110 Hotel Motel 893,604           225,000           282,675           1,176,279        596,197           264,428           911,851            127 Cable Communication 677,710           97,674             74,558             752,268           97,674             50,324             701,944            130 Housing and Supportive Services ‐                       2,640,000        2,852,655        2,852,655        1,030,000        11,207             2,841,448         135 Springbrook Wetlands Bank 348,826           (109,200)          (107,142)          241,684           9,586               3,770               237,914            140 Police Seizure 872,449            ‐                       13,445             885,894           872,449           158,161           727,733            141 Police CSAM Seizure 150,637            ‐                       25,640             176,277           150,637            ‐                       176,277            DEBT SERVICE FUND 5,010,629        7,493,298        3,113,679        8,124,308        7,155,169        1,420,623        6,703,685         CAPITAL PROJECT FUNDS (CIP): 57,978,833      58,172,641      25,158,208      83,137,041      96,518,052      23,139,184      59,997,857       303 Community Services Mitigation 1,713,833        1,571,464        1,402,206        3,116,039        2,796,229         ‐                       3,116,039         304 Fire Mitigation 2,191,452        99,000             200,263           2,391,715        436,987            ‐                       2,391,715         305 Transportation Mitigation 3,154,954        200,000           2,080,113        5,235,067        102,837            ‐                       5,235,067         308 REET1 2,042,269        3,250,000        4,483,356        6,525,625        2,865,000         ‐                       6,525,625         309 REET2 3,411,866        6,427,680        7,668,301        11,080,167      7,066,705         ‐                       11,080,167       31X School District Impact Mitigation ‐                       995,000           486,190           486,190           995,000           478,500           7,690                316 Municipal Facilities CIP 20,298,663      13,589,300      1,481,530        21,780,193      33,725,991      9,160,389        12,619,804       317 Transportation CIP 16,792,413      30,470,197      7,287,422        24,079,835      46,062,467      13,307,134      10,772,701       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        1,570,000        68,827             8,425,531        2,450,157        176,482           8,249,049         ENTERPRISE FUNDS: 101,919,349    101,854,329    83,695,514      185,614,863    161,606,006    77,638,131      107,976,732     4X2 Airport Operating & CIP 7,558,405        3,282,007        3,108,937        10,667,342      9,587,446        2,770,720        7,896,622         403 Solid Waste Utility 2,771,562        23,024,017      16,935,398      19,706,960      22,902,330      16,967,609      2,739,351         4X4 Golf Operating & CIP 476,746           3,126,584        3,127,832        3,604,578        2,871,162        2,224,003        1,380,575         4X5 Water Operating & CIP 40,776,314      17,972,403      18,101,073      58,877,387      48,985,805      13,342,186      45,535,201       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      11,123,120      35,119,337      28,637,433      12,827,222      22,292,115       416 King County Metro 4,729,749        17,607,838      16,355,227      21,084,976      17,607,838      15,904,874      5,180,102         4X7 Surface Water Operating & CIP 21,610,356      25,054,994      14,943,927      36,554,283      31,013,992      13,601,517      22,952,766       INTERNAL SERVICE FUNDS: 53,146,873      41,891,100      32,813,667      85,960,540      39,267,564      28,128,067      57,832,473       501 Equipment Repair/Replacement 6,376,259        6,463,395        5,235,175        11,611,434      5,289,546        2,890,011        8,721,423         502 Insurance 19,860,208      5,533,775        2,924,849        22,785,057      4,242,521        3,449,736        19,335,321       503 Information Services 3,939,941        7,205,985        5,172,468        9,112,409        8,089,687        4,815,546        4,296,863         504 Facilities 504,167           6,350,643        4,872,056        5,376,223        6,522,982        4,579,595        796,628            505 Communications 151,624           1,153,826        884,448           1,036,072        1,179,312        761,712           274,360            512 Insurance, Healthcare 5,773,429        12,477,543      11,573,424      17,346,853      12,580,831      10,569,417      6,777,436         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        2,151,247        18,692,492      1,362,685        1,062,050        17,630,442       FIDUCIARY FUNDS: 7,908,312        385,000           2,107,383        10,015,695      210,475           1,603,131        8,412,564         611 Firemens' Pension 7,908,312        385,000           690,819           8,599,131        210,475           220,436           8,378,695         630 Custodial Fund ‐                        ‐                       1,416,564        1,416,564         ‐                       1,382,695        33,869              TOTAL FUNDS 283,363,804    338,845,315    260,769,616    544,133,420    435,141,419    223,594,396    320,539,024