HomeMy WebLinkAboutMONTH 2022 12Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through December 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 102,213,407$
Licenses and permits 7,455,983
Grants / intergovernmental 17,604,837
Charges for services 10,101,988
Fines and penalties 4,142,205
Miscellaneous 2,114,958
Sale of general fixed assets 2,000
Investment Earnings 1,063,310
Insurance recoveries 262,113
TOTAL REVENUES 144,960,801
EXPENDITURES:
Personnel 67,280,060
Supplies 1,987,370
Contracted Services 22,499,190
Principal 225,309
Capital Outlay 122,019
Internal Services 21,140,233
TOTAL EXPENDITURES 113,254,181
Transfers In 3,054,187
Transfers Out (16,858,938)
NET TRANSFERS (13,804,751)
CHANGE IN FUND BALANCE 17,901,869
BEGINNING FUND BALANCE, Jan 1 69,102,662
Prior Period Adjustment (3,398,553)
BEGINNING FUND BALANCE, Jan 1 - restated 65,704,109
ENDING FUND BALANCE, Dec 31 83,605,978$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 11,537,583
AVAILABLE FUND BALANCE, Dec 31 69,568,395$
Monthly Financial Report December 2022
Monthly Financial Report City of Renton, Washington December 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 51,743
TOTAL REVENUES 96,448
EXPENDITURES:
Principal 3,069,547
Interest 1,271,720
TOTAL EXPENDITURES 4,341,267
Transfers In 4,289,359
NET TRANSFERS 4,289,359
CHANGE IN FUND BALANCE 44,540
BEGINNING FUND BALANCE, Jan 1 5,218,125
ENDING FUND BALANCE, Dec 31 5,262,665$
Debt Service Reserve 2,717,575
AVAILABLE FUND BALANCE 2,545,090$
Monthly Financial Report City of Renton, Washington December 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 519,434$ -$ 4,387,867$ -$ -$ -$ -$ -$
Licenses and permits - 62,730 - - - - - -
Charges for services - - - - 1,232,198 4,088,842 - -
Fines and penalties - - - - - - - 14,524
Contributions 25,000 - - - - - 154,526 -
Investment Earnings 9,297 6,014 50,794 4,598 31,890 3,941 5,903 1,809
Sale of Fixed Assets - - - 230,300 - - - -
TOTAL REVENUES 553,731 68,744 4,438,661 234,898 1,264,088 4,092,783 160,429 16,333
EXPENDITURES:
Personnel - - - 6,184 - - - -
Supplies - 159,574 - - - - - -
Contracted Services 529,768 187,269 1,500,000 8,411 - 4,092,795 549 44
Capital Outlay - - - - - - 151,035 18,311
TOTAL EXPENDITURES 529,768 346,843 1,500,000 14,595 - 4,092,795 151,584 18,355
-
Transfers In - - - - - - - -
Transfers Out (40,000) - - - (500,634) - (300,556) -
NET TRANSFERS (40,000) - - - (500,634) - (300,556) -
CHANGE IN FUND BALANCE (16,037) (278,099) 2,938,661 220,303 763,454 (12) (291,711) (2,022)
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, Dec 31 712,384$ 453,146$ 6,110,390$ 454,628$ 2,724,187$ -$ 339,814$ 172,804$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 4,046,473$ 4,046,472$ -$ -$ -$
Grants / intergovernmental - - - - 591,912 9,772,886 1,510,000
Charges for services 1,492,501 8,505,438 - - 56,449 - -
Fines and penalties - - - - - - -
Contributions - - - - 842,454 - 5,025,344
Sale of general fixed assets - - - - - - -
Investment Earnings 50,090 130,793 75,117 121,461 186,230 77,536 79,124
TOTAL REVENUES 1,542,591 8,636,231 4,121,590 4,167,933 1,677,045 9,850,422 6,614,468
EXPENDITURES:
Personnel - - - - 429,623 98,858 -
Supplies - - - - - 108,006 -
Contracted Services - - - - 391,770 288,293 42,466
Capital Outlay - - - - 9,273,108 17,315,448 12,015,610
TOTAL EXPENDITURES - - - - 10,094,501 17,810,605 12,058,076
Transfers In - - - - 16,264,057 9,714,705 3,000,000
Transfers Out (3,380,595) (6,831,255) (5,579,996) (6,921,118) - (61,400) (3,000,033)
NET TRANSFERS (3,380,595) (6,831,255) (5,579,996) (6,921,118) 16,264,057 9,653,305 (33)
CHANGE IN FUND BALANCE (1,838,004) 1,804,976 (1,458,406) (2,753,185) 7,846,601 1,693,122 (5,443,641)
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, Dec 31 1,595,389$ 6,964,011$ 3,049,711$ 6,019,960$ 24,671,384$ 12,561,975$ 2,795,294$
Monthly Financial Report City of Renton, Washington December 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 -$ -$ -$ -$ 86,846$ -$ 33,459$
Grants / intergovernmental 57,529 34,783 - - - - 1,442,131
Charges for services 3,154,438 19,411,214 2,635,467 17,446,706 10,716,538 17,773,710 11,714,937
Fines and penalties - - - - 56 - -
Rents, leases, and misc fees 19,137 - 478,892 235,606 - - -
Interest and other misc 135,507 33,024 (107,358) 1,383,325 891,765 47,879 1,557,302
TOTAL REVENUES 3,366,611 19,479,021 3,007,001 19,065,637 11,695,205 17,821,589 14,747,829
EXPENSES:
Personnel 1,012,492 411,822 1,538,489 4,029,948 2,167,915 - 3,451,126
Supplies 89,165 8,954 342,470 1,005,218 60,794 - 78,549
Contracted Services 614,678 19,243,357 119,231 3,052,893 2,134,694 15,415,730 1,794,939
Internal Services 341,856 293,728 345,495 2,107,536 1,483,261 - 2,171,265
TOTAL OPERATING EXPENSES 2,058,191 19,957,861 2,345,685 10,195,595 5,846,664 15,415,730 7,495,879
CAPITAL, AND TRANSFERS 1,308,420 (478,840) 661,316 8,870,042 5,848,541 2,405,859 7,251,950
DEBT SERVICE:
Principal - - 33,083 315,517 - - -
Interest - - 1,580 91,087 39,657 - 48,178
TOTAL DEBT SERVICE - - 34,663 406,604 39,657 - 48,178
CAPITAL OUTLAY 155,346 - 418,513 2,665,124 3,223,508 - 3,472,326
Transfers In - - 186,100 - - - -
Transfers Out - - (186,100) - (7,297) - (3,975)
NET TRANSFERS - - - - (7,297) - (3,975)
CHANGE IN FUND BALANCE 1,153,074 (478,840) 208,140 5,798,314 2,578,079 2,405,859 3,727,471
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, Nov 30 8,894,825$ 2,913,403$ 1,431,037$ 49,648,181$ 23,366,766$ 6,169,871$ 25,410,229$
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 8,653,435$ 2,513,403$ 684,804$ 46,541,975$ 21,743,500$ 5,789,871$ 23,450,748$
Monthly Financial Report City of Renton, Washington December 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 -$ -$ 257,614$ -$ -$ -$ -$
Grants / intergovernmental - - - - 3,000 - 38,624
Charges for services:
Equipment rental m&o 3,168,507 - 9,125,435 - - - -
Print and mail - - - - 476,608 - -
Communications - - - - 896,927 - -
Facilities - - - 6,493,654 - - -
IT service contracts - - - - - - -
Interest and other misc 125,568 221,533 62,823 5,589 1,778 82,188 205,920
Internal service fund misc:
Vehicle / equipment capital recovery 3,362,202 - - - - - -
Insurance premiums - 3,135,847 - - - - -
Worker's comp/unemployment - 1,553,552 - - - - -
Benefit premiums - - - - - 11,589,186 2,624,684
Other misc 3,747 104,995 319 103,579 - 505,554 171,558
Disposal of capital assets 22,430 - - - - - -
Insurance recoveries 14,736 21,088 - - - - -
TOTAL REVENUES 6,697,190 5,037,015 9,446,191 6,602,822 1,378,313 12,176,928 3,040,786
EXPENSES:
Personnel 1,083,973 1,166,138 3,147,715 3,432,461 757,883 11,356,104 1,251,146
Supplies 1,670,826 68 1,988,765 905,501 47,485 6,711 -
Contracted Services 379,775 3,145,678 3,068,444 1,982,579 283,704 468,985 49,108
Internal Services 41,193 - - 141,208 2,034 64,621 -
TOTAL OPERATING EXPENSES 3,175,767 4,311,884 8,204,924 6,461,749 1,091,106 11,896,421 1,300,254
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 3,521,423 725,131 1,241,267 141,073 287,207 280,507 1,740,532
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 522,094 - 283,120 11,045 - - -
Transfers In 153,137 2,052,772 4,409,742 22,705 - - -
Transfers Out - (51,420) - - - - -
NET TRANSFERS 153,137 2,001,352 4,409,742 22,705 - - -
CHANGE IN FUND BALANCE 3,152,466 2,726,483 5,367,889 152,733 287,207 280,507 1,740,532
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, Dec 31 13,277,635$ 23,221,021$ 9,021,344$ 937,922$ 428,724$ 6,935,644$ 19,928,792$
Insurance Reserves - 23,221,021 - - - 4,123,049 19,928,792
Opearting Reserves 9,305,868 - 2,068,477 - - - -
AVAILABLE FUND BALANCE 3,971,767$ -$ 6,952,867$ 937,922$ 428,724$ 2,812,595$ -$
Monthly Financial Report City of Renton, Washington December 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 406,060 -
Collected for Others - 1,673,415
TOTAL REVENUES 588,901 1,673,415
EXPENDITURES:
Distributions to Others 260,680 1,673,415
TOTAL EXPENDITURES 226,293 1,673,415
NET TRANSFERS - -
CHANGE IN FUND BALANCE 362,608 -
BEGINNING FUND BALANCE, Jan 1 8,371,183 -
ENDING FUND BALANCE, Dec 31 8,733,791$ -$
Monthly Financial Report City of Renton, Washington December 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 December 31, 2022
Funds
Balance
01/01/2022
Budgeted
Revenue
Revenue
12/31/22
Total Funds
Available
Budgeted
Expenditure
Expenditure
12/31/22 Ending Balance
GENERAL FUND 69,102,662 138,107,723 144,616,435 213,719,097 144,233,971 130,113,119 83,605,978
SPECIAL REVENUE FUNDS:7,632,816 9,897,979 10,829,667 18,462,483 8,741,401 7,495,130 10,967,353
110 Hotel Motel 728,421 225,000 553,731 1,282,152 618,207 569,768 712,384
127 Cable Communication 731,245 57,674 68,744 799,989 460,209 346,843 453,146
130 Housing and Supportive Services 3,171,729 3,490,000 4,438,661 7,610,390 1,710,000 1,500,000 6,110,390
135 Springbrook Wetlands Bank 234,325 231,305 234,898 469,223 51,000 14,595 454,628
140 Police Seizure 631,525 - 160,429 791,954 631,525 452,140 339,814
141 Police CSAM Seizure 174,826 - 16,333 191,159 174,826 18,355 172,804
31X School District Impact Mitigation 12 4,595,000 4,092,783 4,092,795 4,595,000 4,092,795 -
304 Fire Mitigation 1,960,733 1,299,000 1,264,088 3,224,821 500,634 500,634 2,724,187
DEBT SERVICE FUND 5,218,125 4,533,969 4,385,807 9,603,932 4,341,920 4,341,267 5,262,665
CAPITAL PROJECT FUNDS (CIP):57,806,261 101,217,561 65,589,042 123,395,303 141,358,340 65,737,579 57,657,724
303 Community Services Mitigation 3,433,393 1,386,500 1,542,591 4,975,984 3,380,595 3,380,595 1,595,389
305 Transportation Mitigation 5,159,035 8,044,696 8,636,231 13,795,266 6,851,255 6,831,255 6,964,011
308 REET1 4,508,117 2,300,000 4,121,590 8,629,707 5,579,996 5,579,996 3,049,711
309 REET2 8,773,145 2,300,000 4,167,933 12,941,078 6,921,118 6,921,118 6,019,960
316 Municipal Facilities CIP 16,824,783 20,848,957 17,941,102 34,765,885 37,665,866 10,094,501 24,671,384
317 Transportation CIP 10,868,853 53,494,765 19,565,127 30,433,980 63,181,252 17,872,005 12,561,975
346 New Family First Center Dvlpmnt 8,238,935 12,842,643 9,614,468 17,853,403 17,778,258 15,058,109 2,795,294
ENTERPRISE FUNDS:102,442,215 115,114,412 103,991,762 206,433,977 171,626,571 86,336,326 120,097,651
4X2 Airport Operating & CIP 7,741,751 3,456,518 3,664,597 11,406,348 9,388,477 2,480,659 8,925,689
403 Solid Waste Utility 3,392,243 24,133,272 23,956,965 27,349,208 24,885,563 23,398,017 3,951,191
4X4 Golf Operating & CIP 1,222,897 3,428,832 3,798,373 5,021,270 3,655,054 3,411,343 1,609,927
4X5 Water Operating & CIP 43,849,867 20,933,613 20,612,110 64,461,977 51,456,362 16,253,901 48,208,076
4X6 Waste Water Operating & CIP 20,788,687 12,462,963 12,813,017 33,601,704 26,104,765 10,750,833 22,850,871
416 King County Metro 3,764,012 18,495,877 19,460,260 23,224,272 18,495,877 16,987,130 6,237,142
4X7 Surface Water Operating & CIP 21,682,758 32,203,337 19,686,440 41,369,198 37,640,473 13,054,443 28,314,755
INTERNAL SERVICE FUNDS:60,043,265 50,755,494 51,017,601 111,060,866 49,754,860 37,309,784 73,751,082
501 Equipment Repair/Replacement 10,125,169 6,445,116 6,850,327 16,975,496 7,264,417 3,697,861 13,277,635
502 Insurance 20,494,538 6,309,425 7,089,787 27,584,325 4,637,888 4,363,304 23,221,021
503 Information Services 3,653,455 13,669,859 13,855,933 17,509,388 14,413,705 8,488,044 9,021,344
504 Facilities 785,189 6,676,675 6,625,527 7,410,716 6,858,180 6,472,794 937,922
505 Communications 141,517 1,377,535 1,378,313 1,519,830 1,384,885 1,091,106 428,724
512 Insurance, Healthcare 6,655,137 13,566,817 12,176,928 18,832,065 13,743,496 11,896,421 6,935,644
522 Insurance, Leoff1 Retirees HC 18,188,260 2,710,067 3,040,786 21,229,046 1,452,289 1,300,254 19,928,792
FIDUCIARY FUNDS:8,371,183 290,000 2,262,316 10,633,499 200,475 1,899,708 8,733,791
611 Firemens' Pension 8,371,183 290,000 588,901 8,960,084 200,475 226,293 8,733,791
630 Custodial Fund - - 1,673,415 1,673,415 - 1,673,415 -
TOTAL FUNDS 310,616,527 419,917,138 382,692,630 693,309,157 520,257,538 333,232,913 360,076,244