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Home My WebLink AboutMONTH 2022 10Page 1 of 7 OVERVIEW This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through October 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 87,319,158$ Licenses and permits 6,361,821 Grants / intergovernmental 16,926,636 Charges for services 8,868,422 Fines and penalties 3,424,348 Miscellaneous 1,781,444 Sale of general fixed assets 2,000 Investment Earnings 608,486 Insurance recoveries 165,298 TOTAL REVENUES 125,457,613 EXPENDITURES: Personnel 55,943,520 Supplies 1,494,424 Contracted Services 16,327,778 Principal 225,309 Capital Outlay 116,926 Internal Services 15,359,943 TOTAL EXPENDITURES 89,467,900 Transfers In 14,187 Transfers Out (5,812,895) NET TRANSFERS (5,798,708) CHANGE IN FUND BALANCE 30,191,005 BEGINNING FUND BALANCE, Jan 1 69,102,662 Prior Period Adjustment 379,682 BEGINNING FUND BALANCE, Jan 1 - restated 69,482,344 ENDING FUND BALANCE, Oct 31 99,673,349$ ECONOMIC DEVELOPMENT RESERVE 2,500,000 OPERATING RESERVES 11,537,583 AVAILABLE FUND BALANCE, Oct 31 85,635,766$ Monthly Financial Report October 2022 Monthly Financial Report City of Renton, Washington October 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. General Governmental Misc Debt REVENUES: Grants / intergovernmental 44,705$ Investment Earnings 31,635 TOTAL REVENUES 76,340 EXPENDITURES: Principal 609,547 Interest 715,058 TOTAL EXPENDITURES 1,324,605 Transfers In 611,550 NET TRANSFERS 611,550 CHANGE IN FUND BALANCE (636,715) BEGINNING FUND BALANCE, Jan 1 5,218,125 ENDING FUND BALANCE, Oct 31 4,581,410$ Debt Service Reserve 2,717,575 AVAILABLE FUND BALANCE 1,863,835$ Monthly Financial Report City of Renton, Washington October 2022 Page 3 of 7 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. 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 418,325$ -$ 3,616,580$ -$ -$ -$ -$ -$ Licenses and permits - 62,730 - - - - - - Charges for services - - - - 1,189,749 4,057,180 - - Fines and penalties - - - - - - - 9,578 Contributions 20,000 - - - - - 125,480 - Investment Earnings 5,424 3,874 26,433 2,591 17,976 3,771 3,234 1,075 Sale of Fixed Assets - - - 230,300 - - - - TOTAL REVENUES 443,749 66,604 3,643,013 232,891 1,207,725 4,060,951 128,714 10,653 EXPENDITURES: Personnel - - - 5,324 - - - - Supplies - 159,574 - - - - - - Contracted Services 288,478 162,659 1,521,852 4,400 - 3,959,023 8,609 44 Capital Outlay - - - - - - 139,791 18,311 TOTAL EXPENDITURES 288,478 322,233 1,521,852 9,724 - 3,959,023 148,400 18,355 - Transfers In - - - - - - - Transfers Out - - - - - - NET TRANSFERS - - - - - - - CHANGE IN FUND BALANCE 155,271 (255,629) 2,121,161 223,167 1,207,725 101,928 (19,686) (7,702) 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, Oct 31 883,692$ 475,616$ 5,292,890$ 457,492$ 3,168,458$ 101,940$ 611,839$ 167,124$ CS Impact Mitigation Transportation Impact Mitigation REET 1 REET 2 Municipal Facilities CIP Capital Investment Family First Center REVENUES: Taxes -$ -$ 3,049,640$ 3,049,640$ -$ -$ -$ Grants / intergovernmental - - - - 361,629 8,943,928 1,510,001 Charges for services 1,472,269 8,383,231 - - 33,950 - - Fines and penalties - - - - - (214) - Contributions - - - - 842,154 - 5,017,221 Sale of general fixed assets - - - - - - - Investment Earnings 28,412 70,921 41,297 68,798 114,263 57,242 55,595 TOTAL REVENUES 1,500,681 8,454,152 3,090,937 3,118,438 1,351,996 9,000,956 6,582,817 EXPENDITURES: Personnel - - - - 338,615 81,847 - Supplies - - - - - 90,430 - Contracted Services - - - - 149,937 176,125 40,974 Capital Outlay - - - - 3,406,472 14,654,044 8,732,280 TOTAL EXPENDITURES - - - - 3,895,024 15,002,446 8,773,254 Transfers In - - - - 3,000,000 - 56,518 Transfers Out - - - - (56,518) - 33 NET TRANSFERS - - - - 2,943,482 - 56,485 CHANGE IN FUND BALANCE 1,500,681 8,454,152 3,090,937 3,118,438 400,454 (6,001,490) (2,133,952) 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, Oct 31 4,934,074$ 13,613,187$ 7,599,054$ 11,891,583$ 17,225,237$ 4,867,363$ 6,104,983$ Monthly Financial Report City of Renton, Washington October 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 -$ -$ -$ -$ 71,945$ -$ 30,084$ Grants / intergovernmental 57,529 34,783 - - - - 1,252,859 Charges for services 2,845,661 18,078,943 2,493,389 15,763,411 9,747,391 16,201,749 10,671,172 Interdepartmental services - - - - - - - Fines and penalties - - - - 56 - - Rents, leases, and misc fees 19,137 - 453,793 204,696 - - - Interest and other misc 122,121 26,386 (110,498) 1,297,788 749,671 38,420 1,505,056 TOTAL REVENUES 3,044,448 18,140,112 2,836,684 17,265,895 10,569,063 16,240,169 13,459,171 EXPENSES: Personnel 919,504 382,326 1,403,424 3,667,803 1,978,648 - 3,163,981 Supplies 72,281 7,571 334,917 936,210 53,519 - 66,827 Contracted Services 584,281 17,130,879 115,977 2,786,709 1,936,755 13,844,330 1,659,666 Internal Services 341,856 293,728 345,495 2,107,536 1,483,261 - 2,171,265 TOTAL OPERATING EXPENSES 1,917,922 17,814,504 2,199,813 9,498,258 5,452,183 13,844,330 7,061,739 CAPITAL, AND TRANSFERS 1,126,526 325,608 636,871 7,767,637 5,116,880 2,395,839 6,397,432 DEBT SERVICE: Principal - - 29,395 315,517 - - - Interest - - 1,416 91,087 39,657 - 48,178 TOTAL DEBT SERVICE - - 30,811 406,604 39,657 - 48,178 CAPITAL OUTLAY 151,642 - 418,513 2,551,305 3,071,890 - 3,392,158 Transfers In - - 186,100 - - - - Transfers Out - - (186,100) - (7,297) - (3,975) NET TRANSFERS - - - - (7,297) - (3,975) CHANGE IN FUND BALANCE 974,884 325,608 187,547 4,809,728 1,998,036 2,395,839 2,953,121 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, Oct 31 8,716,635$ 3,717,851$ 1,410,444$ 48,659,595$ 22,786,723$ 6,159,851$ 24,635,879$ Restricted for Debt Service - - - 1,394,050 661,227 - 754,868 Operating Reserve 241,390 400,000 746,233 1,712,156 962,039 380,000 1,204,613 AVAILABLE FUND BALANCE 8,475,245$ 3,317,851$ 664,211$ 45,553,389$ 21,163,457$ 5,779,851$ 22,676,398$ Monthly Financial Report City of Renton, Washington October 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 -$ -$ 221,311$ -$ -$ -$ -$ Grants / intergovernmental - - - - 3,000 - 38,624 Charges for services: Equipment rental m&o 2,391,537 - 6,846,561 - - - - Print and mail - - - - 357,456 - - Communications - - - - 672,514 - - Facilities - - - 4,870,241 - - - IT service contracts - - - - - - - Interest and other misc 72,891 131,678 35,620 4,489 978 48,116 121,010 Internal service fund misc: Vehicle / equipment capital recovery 2,491,493 - - - - - - Insurance premiums - 1,847,270 - - - - - Worker's comp/unemployment - 1,297,949 - - - - - Benefit premiums - - - - - 10,484,100 1,968,513 Other misc 2,499 104,843 319 86,026 - 358,690 111,929 Disposal of capital assets 22,430 - - - - - - Insurance recoveries - 45,045 - - - - - TOTAL REVENUES 4,980,850 3,426,785 7,103,811 4,960,756 1,033,948 10,890,906 2,240,076 EXPENSES: Personnel 912,631 906,935 2,634,105 2,915,926 656,232 9,068,514 1,015,648 Supplies 1,333,004 68 1,109,112 743,805 39,144 2,145 - Contracted Services 305,160 2,536,362 2,381,534 1,402,078 237,239 403,020 43,560 Internal Services 35,724 - - 109,581 1,526 70,252 - TOTAL OPERATING EXPENSES 2,586,519 3,443,365 6,124,751 5,171,390 934,141 9,543,931 1,059,208 AMOUNT AVAILABLE FOR DEBT SERVICE, CAPITAL, AND TRANSFERS 2,394,331 (16,580) 979,060 (210,634) 99,807 1,346,975 1,180,868 TOTAL DEBT SERVICE - - - - - - - CAPITAL OUTLAY 384,842 - 105,052 15,149 - - - Transfers In - 152,772 2,086,034 11,045 - - - Transfers Out - (51,420) - - - - - NET TRANSFERS - 101,352 2,086,034 11,045 - - - CHANGE IN FUND BALANCE 2,009,489 84,772 2,960,042 (214,738) 99,807 1,346,975 1,180,868 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, Oct 31 12,134,658$ 20,579,310$ 6,613,497$ 570,451$ 241,324$ 8,002,112$ 19,369,128$ Insurance Reserves - 20,579,310 - - - 4,123,049 19,369,128 Opearting Reserves 9,305,868 - 2,068,477 - - - - AVAILABLE FUND BALANCE 2,828,790$ -$ 4,545,020$ 570,451$ 241,324$ 3,879,063$ -$ Monthly Financial Report City of Renton, Washington October 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 50,233 - Collected for Others - 1,638,070 TOTAL REVENUES 233,074 1,638,070 EXPENDITURES: Distributions to Others 223,359 1,351,465 TOTAL EXPENDITURES 188,972 1,351,465 NET TRANSFERS - - CHANGE IN FUND BALANCE 44,102 286,605 BEGINNING FUND BALANCE, Jan 1 8,371,183 - ENDING FUND BALANCE, Oct 31 8,415,285$ 286,605$ Monthly Financial Report City of Renton, Washington October 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 October 31, 2022 Funds Balance 01/01/2022 Budgeted Revenue Revenue 10/31/22 Total Funds Available Budgeted Expenditure Expenditure 10/31/22 Ending Balance GENERAL FUND 69,102,662 138,107,723 125,851,482 194,954,144 144,233,971 95,280,795 99,673,349 SPECIAL REVENUE FUNDS:7,632,816 9,897,979 9,794,300 17,427,116 8,741,401 6,268,065 11,159,051 110 Hotel Motel 728,421 225,000 443,749 1,172,170 618,207 288,478 883,692 127 Cable Communication 731,245 57,674 66,604 797,849 460,209 322,233 475,616 130 Housing and Supportive Services 3,171,729 3,490,000 3,643,013 6,814,742 1,710,000 1,521,852 5,292,890 135 Springbrook Wetlands Bank 234,325 231,305 232,891 467,216 51,000 9,724 457,492 140 Police Seizure 631,525 - 128,714 760,239 631,525 148,400 611,839 141 Police CSAM Seizure 174,826 - 10,653 185,479 174,826 18,355 167,124 31X School District Impact Mitigation 12 4,595,000 4,060,951 4,060,963 4,595,000 3,959,023 101,940 304 Fire Mitigation 1,960,733 1,299,000 1,207,725 3,168,458 500,634 - 3,168,458 DEBT SERVICE FUND 5,218,125 4,533,969 687,890 5,906,015 4,341,920 1,324,605 4,581,410 CAPITAL PROJECT FUNDS (CIP):57,806,261 101,217,561 36,156,495 93,962,756 141,358,340 27,727,275 66,235,481 303 Community Services Mitigation 3,433,393 1,386,500 1,500,681 4,934,074 3,380,595 - 4,934,074 305 Transportation Mitigation 5,159,035 8,044,696 8,454,152 13,613,187 6,851,255 - 13,613,187 308 REET1 4,508,117 2,300,000 3,090,937 7,599,054 5,579,996 - 7,599,054 309 REET2 8,773,145 2,300,000 3,118,438 11,891,583 6,921,118 - 11,891,583 316 Municipal Facilities CIP 16,824,783 20,848,957 4,351,996 21,176,779 37,665,866 3,951,542 17,225,237 317 Transportation CIP 10,868,853 53,494,765 9,000,956 19,869,809 63,181,252 15,002,446 4,867,363 336 New Library Development - - - - - - - 346 New Family First Center Dvlpmnt 8,238,935 12,842,643 6,639,335 14,878,270 17,778,258 8,773,287 6,104,983 ENTERPRISE FUNDS:102,442,215 115,114,412 81,741,642 184,183,857 171,626,571 68,096,879 116,086,978 4X2 Airport Operating & CIP 7,741,751 3,456,518 3,044,448 10,786,199 9,388,477 2,069,564 8,716,635 403 Solid Waste Utility 3,392,243 24,133,272 18,140,112 21,532,355 24,885,563 17,814,504 3,717,851 4X4 Golf Operating & CIP 1,222,897 3,428,832 3,022,784 4,245,681 3,655,054 2,835,237 1,410,444 4X5 Water Operating & CIP 43,849,867 20,933,613 17,265,895 61,115,762 51,456,362 12,456,167 48,659,595 4X6 Waste Water Operating & CIP 20,788,687 12,462,963 10,569,063 31,357,750 26,104,765 8,571,027 22,786,723 416 King County Metro 3,764,012 18,495,877 16,240,169 20,004,181 18,495,877 13,844,330 6,159,851 4X7 Surface Water Operating & CIP 21,682,758 32,203,337 13,459,171 35,141,929 37,640,473 10,506,050 24,635,879 INTERNAL SERVICE FUNDS:60,043,265 50,755,494 36,886,983 96,930,248 49,754,860 29,419,768 67,510,480 501 Equipment Repair/Replacement 10,125,169 6,445,116 4,980,850 15,106,019 7,264,417 2,971,361 12,134,658 502 Insurance 20,494,538 6,309,425 3,579,557 24,074,095 4,637,888 3,494,785 20,579,310 503 Information Services 3,653,455 13,669,859 9,189,845 12,843,300 14,413,705 6,229,803 6,613,497 504 Facilities 785,189 6,676,675 4,971,801 5,756,990 6,858,180 5,186,539 570,451 505 Communications 141,517 1,377,535 1,033,948 1,175,465 1,384,885 934,141 241,324 512 Insurance, Healthcare 6,655,137 13,566,817 10,890,906 17,546,043 13,743,496 9,543,931 8,002,112 522 Insurance, Leoff1 Retirees HC 18,188,260 2,710,067 2,240,076 20,428,336 1,452,289 1,059,208 19,369,128 FIDUCIARY FUNDS:8,371,183 290,000 1,871,144 10,242,327 200,475 1,540,437 8,701,890 611 Firemens' Pension 8,371,183 290,000 233,074 8,604,257 200,475 188,972 8,415,285 630 Custodial Fund - - 1,638,070 1,638,070 - 1,351,465 286,605 TOTAL FUNDS 310,616,527 419,917,138 292,989,936 603,606,463 520,257,538 229,657,824 373,948,639