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HomeMy WebLinkAboutMONTH 2022 05Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through May 31, 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 44,928,384$       Licenses and permits 3,432,196            Grants / intergovernmental 1,680,542            Charges for services 3,504,933            Fines and penalties 2,031,379            Miscellaneous 780,212               Sale of general fixed assets 2,000                    Investment Earnings 137,470               Insurance recoveries 6,841                    TOTAL REVENUES 56,503,957          EXPENDITURES: Personnel 26,093,741          Supplies 632,994               Contracted Services 7,994,696            Capital Outlay 14,258                  Internal Services 4,318,886            TOTAL EXPENDITURES 39,279,884          Transfers In 14,187                  Transfers Out 5,780,528            NET TRANSFERS (5,766,341)           CHANGE IN FUND BALANCE 11,457,732          BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 11,554                  BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,114,216          ENDING FUND BALANCE, May 31 80,571,948$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 10,736,612          AVAILABLE FUND BALANCE, May 31 67,335,336$       Monthly Financial Report May 2022  Monthly Financial Report                                                               City of Renton, Washington April 2022  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 22,353$                 Investment Earnings 8,248                      TOTAL REVENUES 30,601                    EXPENDITURES: Principal 195,873                 Interest 78,675                    TOTAL EXPENDITURES 274,548                 Transfers In 611,550                 NET TRANSFERS 611,550                 CHANGE IN FUND BALANCE 367,603                 BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, May 31 5,585,728$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,868,153$            Monthly Financial Report                                                               City of Renton, Washington April 2022  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.      Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Fire Impact  Mitigation School District  Impact Mitigation Police Seizure Police CSAM  Seizure REVENUES: Taxes 156,235$               ‐$                            1,714,766$            ‐$                             ‐$                         ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              32,671                    ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Grants / intergovernmental ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                              300,337            933,905                 ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                              2,102                      Contributions 10,000                    ‐                               ‐                               ‐                               ‐                           ‐                              1,882                      ‐                               Investment Earnings 1,225                     1,183                     5,703                     369                        3,308                 93                           834                        279                         Sale of Fixed Assets ‐                               ‐                               ‐                              230,300                 ‐                           ‐                               ‐                               ‐                               TOTAL REVENUES 167,460                33,854                   1,720,469             230,669                303,645            933,998                2,716                     2,381                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              2,621                      ‐                           ‐                               ‐                               ‐                               Supplies ‐                              144,790                 ‐                               ‐                               ‐                           ‐                              41,304                    ‐                               Contracted Services 79,160                   7,830                     1,500,000             388                         ‐                          228,490                77,176                    ‐                               Capital Outlay ‐                              130                         ‐                               ‐                               ‐                           ‐                              76,531                    ‐                               TOTAL EXPENDITURES 79,160                   152,750                1,500,000             3,009                      ‐                          228,490                195,011                 ‐                               ‐                           Transfers In ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               CHANGE IN FUND BALANCE 88,300                   (118,896)               220,469                227,660                303,645            705,508                (192,295)               2,381                      BEGINNING FUND BALANCE, Jan 1 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 Prior Period Adjustment ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 ENDING FUND BALANCE, May 31 816,721$              612,349$              3,392,198$           461,985$              2,264,378$       705,520$              439,230$              177,207$               CS Impact Mitigation Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,408,115$       1,408,115$        ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          4,510,259         1,455,000          Charges for services 251,169            3,533,230          ‐                           ‐                          4,700                  ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          (85)                      ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          4,692,221          Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 5,529                 10,989               8,079                 14,841               26,930               16,265               12,830                TOTAL REVENUES 256,698            3,544,219         1,416,194         1,422,956         31,630               4,526,439         6,160,051          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          135,366            31,105                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          7,430                  ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          76,471               31,012               28,972                Capital Outlay ‐                           ‐                           ‐                           ‐                          1,504,768         6,965,870         3,606,927          TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,716,605         7,035,417         3,635,899          Transfers In ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                          36,251                Transfers Out ‐                           ‐                           ‐                           ‐                          36,251                ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          2,963,749          ‐                          36,251                CHANGE IN FUND BALANCE 256,698            3,544,219         1,416,194         1,422,956         1,278,774         (2,508,978)        2,560,403          BEGINNING FUND BALANCE, Jan 1 3,433,393         5,159,035         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         5,159,035         4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          ENDING FUND BALANCE, May 31 3,690,091$       8,703,254$       5,924,311$       10,196,101$    18,103,557$    8,359,875$       10,799,338$     Monthly Financial Report                                                               City of Renton, Washington April 2022  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 ‐$                        ‐$                        ‐$                        ‐$                        43,820$              ‐$                       11,709$              Grants / intergovernmental 5,334                34,783               ‐                          ‐                           ‐                            ‐                         1,010,117           Charges for services 1,460,593        11,044,575      990,529           6,561,899         4,822,711          7,738,456        5,411,483           Interdepartmental services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Fines and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         133,440           99,123                ‐                            ‐                          ‐                            Interest and other misc 12,818              7,314                227,941           883,865             498,330             8,491                971,444              TOTAL REVENUES 1,497,882        11,086,672      1,351,910        7,544,887         5,364,917          7,746,947        7,404,753           EXPENSES: Personnel 450,477           231,323           649,816           1,773,772         1,000,007           ‐                         1,609,550           Supplies 45,406              6,256                148,978           400,540             18,285                ‐                         43,011                Contracted Services 247,478           9,475,991        61,219              1,227,277         937,084             6,105,823        768,353              Internal Services 100,489           77,139              90,138              662,896             497,934              ‐                         629,489              TOTAL OPERATING EXPENSES 843,850           9,790,709        950,151           4,064,485         2,453,310          6,105,823        3,050,403           CAPITAL, AND TRANSFERS 654,032           1,295,963        401,759           3,480,402         2,911,607          1,641,124        4,354,350           DEBT SERVICE: Principal ‐                          ‐                         11,000               ‐                           ‐                            ‐                          ‐                            Interest ‐                          ‐                         554                    ‐                           ‐                            ‐                          ‐                            TOTAL DEBT SERVICE ‐                          ‐                         11,554               ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 5,207                 ‐                         241,476           1,894,772         1,677,905           ‐                         1,830,841           Transfers In ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 648,825           1,295,963        148,729           1,585,630         1,233,702          1,641,124        2,523,509           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, May 31 8,390,576$      4,688,206$      1,371,626$      45,435,497$     22,022,389$     5,405,136$      24,206,267$      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 8,165,028$      4,288,206$      711,884$         42,599,612$     19,985,029$     5,025,136$      22,470,099$      Monthly Financial Report                                                               City of Renton, Washington April 2022  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 ‐$                            ‐$                           111,907$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Charges for services: Equipment rental m&o 822,313                 ‐                             1,644,595             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             117,731                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             178,920                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,505,789             ‐                              ‐                              ‐                              Interest and other misc 16,639                  32,241                  5,736                    937                        146                        10,984                  29,048                   Internal service fund misc: Vehicle / equipment capital recovery 815,843                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             441,904                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             620,825                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             5,296,224            656,171                 Other misc 976                        104,843                319                        45,437                   ‐                             164,388                57,133                   Disposal of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             21,834                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,678,201            1,221,647            1,762,557            1,552,163            296,797                5,471,596            742,352                 EXPENSES: Personnel 463,433                360,384                1,303,734            1,464,802            339,798                4,496,787            429,344                 Supplies 623,638                 ‐                             879,129                335,962                16,602                  660                         ‐                              Contracted Services 127,506                883,055                1,114,456            531,765                123,619                367,069                73,021                   Internal Services 7,692                     ‐                              ‐                             33,285                  509                        20,933                   ‐                              TOTAL OPERATING EXPENSES 1,222,269            1,243,439            3,297,319            2,365,814            480,528                4,885,449            502,365                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 455,932                (21,792)                 (1,534,762)           (813,651)              (183,731)              586,147                239,987                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY (1,111)                    ‐                             82,025                  4,103                     ‐                              ‐                              ‐                              Transfers In ‐                             152,772                2,002,020             ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             152,772                2,002,020             ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 457,043                130,980                385,233                (817,754)              (183,731)              586,147                239,987                 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, May 31 10,582,212$        20,625,518$        4,038,688$          (32,565)$              (42,214)$              7,241,284$          18,428,247$         Insurance Reserves ‐                             19,704,919           ‐                              ‐                              ‐                             4,120,067            18,428,247           Opearting Reserves 9,988,536             ‐                             2,068,477             ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 593,676$             920,599$             1,970,211$          (32,565)$              (42,214)$              3,121,217$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington April 2022  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 182,841$               ‐$                             Investment Earnings 12,244                    ‐                               Collected for Others ‐                              1,264,496              TOTAL REVENUES 195,085                1,264,496              EXPENDITURES: Distributions to Others 132,601                432,263                 TOTAL EXPENDITURES 98,214                   432,263                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 96,871                   832,233                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, May 31 8,468,054$           832,233$               Monthly Financial Report                                                               City of Renton, Washington April 2022  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 Nate Malone  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through May 31, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  05/31/22 Total Funds  Available Budgeted  Expenditure Expenditure  05/31/22 Ending Balance GENERAL FUND 69,102,662      129,016,691    56,529,698      125,632,360    134,221,843    45,060,412      80,571,948       SPECIAL REVENUE FUNDS: 7,632,816        4,841,674        3,395,192        11,028,008      4,998,401        2,158,420        8,869,588         110 Hotel Motel 728,421           200,000           167,460           895,881           508,207           79,160             816,721            127 Cable Communication 731,245           57,674             33,854             765,099           427,209           152,750           612,349            130 Housing and Supportive Services 3,171,729        3,490,000        1,720,469        4,892,198        1,710,000        1,500,000        3,392,198         135 Springbrook Wetlands Bank 234,325            ‐                       230,669           464,994           51,000             3,009               461,985            140 Police Seizure 631,525            ‐                       2,716               634,241           631,525           195,011           439,230            141 Police CSAM Seizure 174,826            ‐                       2,381               177,207           174,826            ‐                       177,207            31X School District Impact Mitigation 12                    995,000           933,998           934,010           995,000           228,490           705,520            304 Fire Mitigation 1,960,733        99,000             303,645           2,264,378        500,634            ‐                       2,264,378         DEBT SERVICE FUND 5,218,125        4,533,969        642,151           5,860,276        4,341,920        274,548           5,585,728         CAPITAL PROJECT FUNDS (CIP): 57,806,261      65,365,439      20,394,438      78,200,699      109,461,364    12,424,172      65,776,527       303 Community Services Mitigation 3,433,393        86,500             256,698           3,690,091        3,380,595         ‐                       3,690,091         305 Transportation Mitigation 5,159,035        200,000           3,544,219        8,703,254        200,000            ‐                       8,703,254         308 REET1 4,508,117        2,300,000        1,416,194        5,924,311        5,579,996         ‐                       5,924,311         309 REET2 8,773,145        2,300,000        1,422,956        10,196,101      9,921,118         ‐                       10,196,101       316 Municipal Facilities CIP 16,824,783      14,905,867      3,031,630        19,856,413      31,728,133      1,752,856        18,103,557       317 Transportation CIP 10,868,853      33,114,072      4,526,439        15,395,292      41,373,264      7,035,417        8,359,875         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      6,196,302        14,435,237      17,278,258      3,635,899        10,799,338       ENTERPRISE FUNDS: 102,442,215    107,654,744    41,997,968      144,440,183    162,957,683    32,920,486      111,519,697     4X2 Airport Operating & CIP 7,741,751        3,281,007        1,497,882        9,239,633        9,181,221        849,057           8,390,576         403 Solid Waste Utility 3,392,243        24,133,272      11,086,672      14,478,915      24,832,757      9,790,709        4,688,206         4X4 Golf Operating & CIP 1,222,897        3,228,832        1,351,910        2,574,807        3,154,944        1,203,181        1,371,626         4X5 Water Operating & CIP 43,849,867      19,107,026      7,544,887        51,394,754      49,435,971      5,959,257        45,435,497       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      5,364,917        26,153,604      25,851,368      4,131,215        22,022,389       416 King County Metro 3,764,012        18,495,877      7,746,947        11,510,959      18,495,877      6,105,823        5,405,136         4X7 Surface Water Operating & CIP 21,682,758      27,182,017      7,404,753        29,087,511      32,005,545      4,881,244        24,206,267       INTERNAL SERVICE FUNDS: 60,043,265      43,410,655      14,880,105      74,923,370      44,947,697      14,082,200      60,841,170       501 Equipment Repair/Replacement 10,125,169      6,481,285        1,678,201        11,803,370      6,617,918        1,221,158        10,582,212       502 Insurance 20,494,538      3,714,015        1,374,419        21,868,957      4,387,888        1,243,439        20,625,518       503 Information Services 3,653,455        9,526,701        3,764,577        7,418,032        10,907,503      3,379,344        4,038,688         504 Facilities 785,189           6,194,170        1,552,163        2,337,352        6,493,056        2,369,917        (32,565)             505 Communications 141,517           1,217,600        296,797           438,314           1,355,485        480,528           (42,214)             512 Insurance, Healthcare 6,655,137        13,566,817      5,471,596        12,126,733      13,733,558      4,885,449        7,241,284         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        742,352           18,930,612      1,452,289        502,365           18,428,247       FIDUCIARY FUNDS: 8,371,183        290,000           1,459,581        9,830,764        200,475           530,477           9,300,287         611 Firemens' Pension 8,371,183        290,000           195,085           8,566,268        200,475           98,214             8,468,054         630 Custodial Fund ‐                        ‐                       1,264,496        1,264,496         ‐                       432,263           832,233            TOTAL FUNDS 310,616,527    355,113,172    139,299,133    449,915,660    461,129,383    107,450,715    342,464,945