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HomeMy WebLinkAboutMONTH 2022 02Page 1 of 8   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through February 28,  2022. 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 12,051,287$       Licenses and permits 1,709,037            Grants / intergovernmental 557,961               Charges for services 620,308               Fines and penalties 512,390               Miscellaneous 472,407               Sale of general fixed assets 2,000                    Investment Earnings 40,194                  Insurance recoveries 2,361                    TOTAL REVENUES 15,967,945          EXPENDITURES: Personnel 10,207,558          Supplies 237,639               Contracted Services 2,749,283            Capital Outlay 14,258                  Internal Services ‐                             TOTAL EXPENDITURES 13,208,738          Transfers In ‐                             Transfers Out ‐                             NET TRANSFERS ‐                             CHANGE IN FUND BALANCE 2,759,207            BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment ‐                             BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,102,662          ENDING FUND BALANCE, Feb 28 71,861,869$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 23,710,086          AVAILABLE FUND BALANCE, Feb 28 45,651,783$       Monthly Financial Report February 2022  Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 2 of 8   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 ‐$                             Investment Earnings 2,446                      TOTAL REVENUES 2,446                      EXPENDITURES: Principal ‐                               Interest 24,231                    TOTAL EXPENDITURES 24,231                    Transfers In ‐                               NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (21,785)                  BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Feb 28 5,196,340$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,478,765$            Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 3 of 8       Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 75,747$                 ‐$                            714,537$               ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              16,597                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              1,059                      Contributions (0)                             ‐                               ‐                               ‐                              (0)                             ‐                               Investment Earnings 354                        349                        1,554                     110                        298                        82                            Sale of Fixed Assets ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL REVENUES 76,101                   16,946                   716,091                110                        298                        1,141                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              1,472                      ‐                               ‐                               Supplies ‐                              680                         ‐                               ‐                              30,245                    ‐                               Contracted Services 26,238                   1,550                     15,806                   328                        46,269                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL EXPENDITURES 26,238                   2,230                     15,806                   1,800                     76,514                    ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 49,863                   14,716                   700,285                (1,690)                    (76,216)                 1,141                      BEGINNING FUND BALANCE, Jan 1 728,421                731,245                3,171,729             234,325                631,525                174,826                 Prior Period Adjustment ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 728,421                731,245                3,171,729             234,325                631,525                174,826                 ENDING FUND BALANCE, Feb 28 778,284$              745,961$              3,872,014$           232,635$              555,309$              175,967$               Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 4 of 8   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 Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                         ‐$                        473,884$          473,883$           ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          2,351,878         1,084,453          Charges for services 47,257               135,001            1,867,807         100,639             ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 1,614                 923                    2,585                 8                         2,158                 4,162                 7,926                 5,334                 3,869                  TOTAL REVENUES 48,871               135,924            1,870,392         100,647            476,042            478,045            7,926                 2,357,212         1,088,322          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          27,039               6,443                  ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                          7,402                  ‐                           ‐                          12,190               3,253                 12,531                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          548,703            2,029,503         454,505             TOTAL EXPENDITURES ‐                           ‐                          7,402                  ‐                           ‐                          587,932            2,039,199         467,036             Transfers In ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 48,871               135,924            1,870,392         93,245               476,042            478,045            (580,006)           318,013            621,286             BEGINNING FUND BALANCE, Jan 1 3,433,393         1,960,733         5,159,035         12                       4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          Prior Period Adjustment ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           BEGINNING FUND BALANCE, Jan 1 ‐ restated 3,433,393         1,960,733         5,159,035         12                       4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          ENDING FUND BALANCE, Feb 28 3,482,264$       2,096,657$       7,029,427$       93,257$            4,984,159$       9,251,190$       16,244,777$    11,186,866$    8,860,221$        Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 5 of 8   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 ‐$                        ‐$                        ‐$                        ‐$                        13,271$              ‐$                       4,125$                Grants / intergovernmental 2,862                 ‐                          ‐                          ‐                           ‐                            ‐                         147,841              Charges for services 693,478           4,335,351        253,730           2,573,608         1,920,848          3,091,029        2,156,410           Fines and penalties ‐                          ‐                          ‐                          ‐                          57                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         36,919              31,637                ‐                            ‐                          ‐                            Interest and other misc 3,692                1,801                857                   36,105               46,490               2,493                82,109                TOTAL REVENUES 719,169           4,337,152        291,506           2,641,350         1,980,666          3,093,522        2,390,485           EXPENSES: Personnel 187,989           91,226              257,747           675,813             395,840              ‐                         616,958              Supplies 32,037              3,047                16,616              103,723             9,760                   ‐                         15,268                Contracted Services 76,907              2,165,098        15,733              536,562             343,898             1,521,124        208,692              Internal Services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            TOTAL OPERATING EXPENSES 296,933           2,259,371        290,096           1,316,098         749,498             1,521,124        840,918              CAPITAL, AND TRANSFERS 422,236           2,077,781        1,410                1,325,252         1,231,168          1,572,398        1,549,567           DEBT SERVICE: Principal ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 531                    ‐                         16,167              642,492             327,373              ‐                         333,219              Transfers In ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 421,705           2,077,781        (14,757)            682,760             903,795             1,572,398        1,216,348           BEGINNING FUND BALANCE, Jan 1 7,741,751        3,392,243        1,222,897        43,849,867       20,788,687       3,764,012        21,682,758        ENDING FUND BALANCE, Feb 28 8,163,456$      5,470,024$      1,208,140$      44,532,627$     21,692,482$     5,336,410$      22,899,106$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,051         661,227              ‐                    754,868              Operating Reserve 225,548           400,000           659,742           1,441,834         1,376,133          380,000           981,300              AVAILABLE FUND BALANCE 7,937,908$      5,070,024$      548,398$         41,696,742$     19,655,122$     4,956,410$      21,162,938$      Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 6 of 8   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 ‐$                            ‐$                           32,368$                 ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Charges for services: Equipment rental m&o 42,034                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Facilities ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Interest and other misc 4,767                    9,535                    1,737                    344                        58                          3,177                    8,533                     Internal service fund misc: Vehicle / equipment capital recovery ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             246,945                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             2,140,845             ‐                              Other misc 123                         ‐                             354                        167                         ‐                             94,155                  29,691                   Disposal of capital assets ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             12,195                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 46,924                  268,675                34,459                  511                        58                          2,238,177            38,224                   EXPENSES: Personnel 181,163                164,048                517,761                562,035                123,306                1,827,978            171,125                 Supplies 202,912                 ‐                             72,486                  79,923                  2,218                     ‐                              ‐                              Contracted Services 35,418                  694,952                267,892                143,965                30,312                  87,943                  9,819                     Internal Services ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL OPERATING EXPENSES 419,493                859,000                858,139                785,923                155,836                1,915,921            180,944                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (372,569)              (590,325)              (823,680)              (785,412)              (155,778)              322,256                (142,720)               TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY ‐                              ‐                             10,925                   ‐                              ‐                              ‐                              ‐                              Transfers In ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE (372,569)              (590,325)              (834,605)              (785,412)              (155,778)              322,256                (142,720)               BEGINNING FUND BALANCE, Jan 1 10,125,169          20,494,538          3,653,455            785,189                141,517                6,655,137            18,188,260           ENDING FUND BALANCE, Feb 28 9,752,600$          19,904,213$        2,818,850$          (223)$                    (14,261)$              6,977,393$          18,045,540$         Insurance Reserves ‐                             17,466,112           ‐                              ‐                              ‐                             4,105,029            18,045,540           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 9,752,600$          2,438,101$          2,818,850$          (223)$                    (14,261)$              2,872,364$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 7 of 8   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 ‐$                             ‐$                             Investment Earnings 3,646                      ‐                               Collected for Others ‐                              262,771                 TOTAL REVENUES 3,646                     262,771                 EXPENDITURES: Distributions to Others 79,540                   40,691                    TOTAL EXPENDITURES 41,653                   40,691                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE (38,007)                 222,080                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Feb 28 8,333,176$           222,080$               Monthly Financial Report                                                               City of Renton, Washington February 2022  Page 8 of 8             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 Nate Malone  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov . City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through February 28, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  02/28/22 Total Funds  Available Budgeted  Expenditure Expenditure  02/28/22 Ending Balance GENERAL FUND 69,102,662      129,016,691    15,967,945      85,070,607      134,221,843    13,208,738      71,861,869       SPECIAL REVENUE FUNDS: 5,672,071        3,747,674        810,687           6,482,758        3,502,767        122,588           6,360,170         110 Hotel Motel 728,421           200,000           76,101             804,522           508,207           26,238             778,284            127 Cable Communication 731,245           57,674             16,946             748,191           427,209           2,230               745,961            130 Housing and Supportive Services 3,171,729        3,490,000        716,091           3,887,820        1,710,000        15,806             3,872,014         135 Springbrook Wetlands Bank 234,325            ‐                       110                  234,435           51,000             1,800               232,635            140 Police Seizure 631,525            ‐                       298                  631,823           631,525           76,514             555,309            141 Police CSAM Seizure 174,826            ‐                       1,141               175,967           174,826            ‐                       175,967            DEBT SERVICE FUND 5,218,125        4,533,969        2,446               5,220,571        4,341,920        24,231             5,196,340         CAPITAL PROJECT FUNDS (CIP): 59,767,006      66,459,439      6,563,381        66,330,387      110,956,998    3,101,569        63,228,818       303 Community Services Mitigation 3,433,393        86,500             48,871             3,482,264        3,380,595         ‐                       3,482,264         304 Fire Mitigation 1,960,733        99,000             135,924           2,096,657        500,634            ‐                       2,096,657         305 Transportation Mitigation 5,159,035        200,000           1,870,392        7,029,427        200,000            ‐                       7,029,427         308 REET1 4,508,117        2,300,000        476,042           4,984,159        5,579,996         ‐                       4,984,159         309 REET2 8,773,145        2,300,000        478,045           9,251,190        9,921,118         ‐                       9,251,190         31X School District Impact Mitigation 12                    995,000           100,647           100,659           995,000           7,402               93,257              316 Municipal Facilities CIP 16,824,783      14,905,867      7,926               16,832,709      31,728,133      587,932           16,244,777       317 Transportation CIP 10,868,853      33,114,072      2,357,212        13,226,065      41,373,264      2,039,199        11,186,866       336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      1,088,322        9,327,257        17,278,258      467,036           8,860,221         ENTERPRISE FUNDS: 102,442,215    107,654,744    15,453,850      117,896,065    162,957,683    8,593,820        109,302,245     4X2 Airport Operating & CIP 7,741,751        3,281,007        719,169           8,460,920        9,181,221        297,464           8,163,456         403 Solid Waste Utility 3,392,243        24,133,272      4,337,152        7,729,395        24,832,757      2,259,371        5,470,024         4X4 Golf Operating & CIP 1,222,897        3,228,832        291,506           1,514,403        3,154,944        306,263           1,208,140         4X5 Water Operating & CIP 43,849,867      19,107,026      2,641,350        46,491,217      49,435,971      1,958,590        44,532,627       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      1,980,666        22,769,353      25,851,368      1,076,871        21,692,482       416 King County Metro 3,764,012        18,495,877      3,093,522        6,857,534        18,495,877      1,521,124        5,336,410         4X7 Surface Water Operating & CIP 21,682,758      27,182,017      2,390,485        24,073,243      32,005,545      1,174,137        22,899,106       INTERNAL SERVICE FUNDS: 60,043,265      43,410,655      2,627,028        62,670,293      44,947,697      5,186,181        57,484,112       501 Equipment Repair/Replacement 10,125,169      6,481,285        46,924             10,172,093      6,617,918        419,493           9,752,600         502 Insurance 20,494,538      3,714,015        268,675           20,763,213      4,387,888        859,000           19,904,213       503 Information Services 3,653,455        9,526,701        34,459             3,687,914        10,907,503      869,064           2,818,850         504 Facilities 785,189           6,194,170        511                  785,700           6,493,056        785,923           (223)                  505 Communications 141,517           1,217,600        58                    141,575           1,355,485        155,836           (14,261)             512 Insurance, Healthcare 6,655,137        13,566,817      2,238,177        8,893,314        13,733,558      1,915,921        6,977,393         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        38,224             18,226,484      1,452,289        180,944           18,045,540       FIDUCIARY FUNDS: 8,371,183        290,000           266,417           8,637,600        200,475           82,344             8,555,256         611 Firemens' Pension 8,371,183        290,000           3,646               8,374,829        200,475           41,653             8,333,176         630 Custodial Fund ‐                        ‐                       262,771           262,771            ‐                       40,691             222,080            TOTAL FUNDS 310,616,527    355,113,172    41,691,754      352,308,281    461,129,383    30,319,471      321,988,810