HomeMy WebLinkAbout01 2023Page 1 of 7
OVERVIEW
This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through January 31,
2023. 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 2023-2024 Adopted Budget.
General
REVENUES:
Taxes 6,290,161$
Licenses and permits 1,074,819
Grants / intergovernmental 555,625
Charges for services 491,050
Fines and penalties 304,569
Miscellaneous 370,211
Sale of general fixed assets -
Investment Earnings 168,387
Insurance recoveries -
TOTAL REVENUES 9,254,822
EXPENDITURES:
Personnel 5,683,744
Supplies 83,036
Contracted Services 1,488,486
Principal -
Capital Outlay -
Internal Services 50
TOTAL EXPENDITURES 7,255,316
Transfers In -
Transfers Out (8,677)
NET TRANSFERS (8,677)
CHANGE IN FUND BALANCE 1,990,829
BEGINNING FUND BALANCE, Jan 1 83,605,978
Prior Period Adjustment 3,694
BEGINNING FUND BALANCE, Jan 1 - restated 83,609,672
ENDING FUND BALANCE, Jan 31 85,600,501$
ECONOMIC DEVELOPMENT RESERVE 2,500,000
OPERATING RESERVES 10,300,000
AVAILABLE FUND BALANCE, Jan 31 72,800,501$
Monthly Financial Report January 2023
Monthly Financial Report City of Renton, Washington January 2023
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
2023-2024 Adopted Budget.
General
Governmental
Misc Debt
REVENUES:
Grants / intergovernmental 19,159$
Investment Earnings 9,800
TOTAL REVENUES 28,959
EXPENDITURES:
Principal -
Interest 20,769
TOTAL EXPENDITURES 20,769
Transfers In -
NET TRANSFERS -
CHANGE IN FUND BALANCE 8,190
BEGINNING FUND BALANCE, Jan 1 5,262,665
ENDING FUND BALANCE, Jan 31 5,270,855$
Debt Service Reserve 2,711,725
AVAILABLE FUND BALANCE 2,559,130$
Monthly Financial Report City of Renton, Washington January 2023
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 34,096$ -$ 351,769$ -$ -$ -$ -$ -$
Licenses and permits - 14,243 - - - - - -
Charges for services - - - - 3,361 14,788 - -
Fines and penalties - - - - - - - 96
Investment Earnings 1,569 884 11,425 854 5,072 49 632 322
Sale of Fixed Assets - - - - - - - -
TOTAL REVENUES 35,665 15,127 363,194 854 8,433 14,837 632 418
EXPENDITURES:
Personnel - - - 629 - - - -
Supplies - 1,024 - - - - - -
Contracted Services (5,860) 1,073 - - - - - -
Capital Outlay - - - - - - - -
TOTAL EXPENDITURES (5,860) 2,097 - 629 - - - -
-
Transfers In - - - - - - - -
Transfers Out - - - - - - - -
NET TRANSFERS - - - - - - - -
CHANGE IN FUND BALANCE 41,525 13,030 363,194 225 8,433 14,837 632 418
BEGINNING FUND BALANCE, Jan 1 712,384 453,147 6,110,390 454,628 2,724,187 - 339,814 172,804
Prior Period Adjustment - - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 712,384 453,147 6,110,390 454,628 2,724,187 - 339,814 172,804
ENDING FUND BALANCE, Jan 31 753,909$ 466,177$ 6,473,584$ 454,853$ 2,732,620$ 14,837$ 340,446$ 173,222$
CS Impact
Mitigation
Transportation
Impact
Mitigation REET 1 REET 2
Municipal
Facilities CIP
Capital
Investment
Family First
Center
REVENUES:
Taxes -$ -$ 95,197$ 95,198$ -$ -$ -$
Grants / intergovernmental - - - - - 1,993,459 -
Charges for services 10,639 63,631 - - - - -
Fines and penalties - - - - - - -
Contributions - - - - - - -
Sale of general fixed assets - - - - - - -
Investment Earnings 2,964 12,956 5,670 11,198 49,983 25,235 6,921
TOTAL REVENUES 13,603 76,587 100,867 106,396 49,983 2,018,694 6,921
EXPENDITURES:
Personnel - - - - 17,337 2,311 -
Supplies - - - - - - -
Contracted Services - - - - - - -
Capital Outlay - - - - 28,468 20,733 186,296
TOTAL EXPENDITURES - - - - 45,805 23,044 186,296
Transfers In - - - - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 13,603 76,587 100,867 106,396 4,178 1,995,650 (179,375)
BEGINNING FUND BALANCE, Jan 1 1,595,389 6,964,011 3,049,711 6,019,961 24,671,384 12,561,975 2,795,295
Prior Period Adjustment - - - - - - -
BEGINNING FUND BALANCE, Jan 1 - restated 1,595,389 6,964,011 3,049,711 6,019,961 24,671,384 12,561,975 2,795,295
ENDING FUND BALANCE, Jan 31 1,608,992$ 7,040,598$ 3,150,578$ 6,126,357$ 24,675,562$ 14,557,625$ 2,615,920$
Monthly Financial Report City of Renton, Washington January 2023
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 -$ -$ -$ -$ 3,375$ -$ 1,875$
Grants / intergovernmental - - - - - - -
- - 5,567 - - - -
Charges for services 128,260 (1,376,254) 120,552 1,438,027 1,029,735 1,704,602 1,193,332
Fines and penalties - - - - - - -
Rents, leases, and misc fees 19,137 - 35,565 27,735 - - -
Interest and other misc 16,726 8,568 3,683 92,187 51,647 11,614 58,857
TOTAL REVENUES 164,123 (1,367,686) 165,367 1,557,949 1,084,757 1,716,216 1,254,064
EXPENSES:
Personnel 97,194 34,394 130,180 389,255 195,813 - 323,745
Supplies 6,106 - 5,801 65,895 12,736 - 10,439
Contracted Services 18,192 (156,981) (8,092) 101,864 156,547 1,681,151 68,847
Internal Services - - - - - - -
TOTAL OPERATING EXPENSES 121,492 (122,587) 127,889 557,014 365,096 1,681,151 403,031
CAPITAL, AND TRANSFERS 42,631 (1,245,099) 37,478 1,000,935 719,661 35,065 851,033
DEBT SERVICE:
Principal - - 3,694 - - - -
Interest - - 157 - - - -
TOTAL DEBT SERVICE - - 3,851 - - - -
CAPITAL OUTLAY - - - 19,493 26,584 - 36,871
Transfers In - - - - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - - - - - -
CHANGE IN FUND BALANCE 42,631 (1,245,099) 33,627 981,442 693,077 35,065 814,162
BEGINNING FUND BALANCE, Jan 1 8,925,689 3,951,191 1,609,927 48,208,077 22,850,871 6,237,142 28,314,756
ENDING FUND BALANCE, Jan 31 8,968,320$ 2,706,092$ 1,643,554$ 49,189,519$ 23,543,948$ 6,272,207$ 29,128,918$
Restricted for Debt Service 1,930,472 - - 1,394,051 661,227 - 754,868
Operating Reserve 237,749 400,000 718,815 1,494,850 887,217 380,000 1,131,139
AVAILABLE FUND BALANCE 6,800,099$ 2,306,092$ 924,739$ 46,300,618$ 21,995,504$ 5,892,207$ 27,242,911$
Monthly Financial Report City of Renton, Washington January 2023
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 -$ -$ 17,424$ -$ -$ -$ -$
Grants / intergovernmental - - - - - - -
Charges for services:
Equipment rental m&o 23,722 - - - - - -
Print and mail - - - - - - -
Communications - - - - - - -
Facilities - - - - - - -
IT service contracts - - - - - - -
Interest and other misc 24,917 43,471 17,058 2,045 814 13,053 37,157
Internal service fund misc:
Vehicle / equipment capital recovery - - - - - - -
Insurance premiums - - - - - - -
Worker's comp/unemployment - 134,405 - - - - -
Benefit premiums - - - - - 1,091,281 -
Other misc - - - 9,450 - - -
Disposal of capital assets - - - - - - -
Insurance recoveries - 34,837 - - - - -
TOTAL REVENUES 48,639 212,713 34,482 11,495 814 1,104,334 37,157
EXPENSES:
Personnel 95,714 130,183 286,511 289,786 67,169 784,702 84,735
Supplies 102,641 - 24,742 58,617 1,589 385 -
Contracted Services 3,042 742,407 267,910 59,030 24,781 53,536 6,066
Internal Services - - - - - - -
TOTAL OPERATING EXPENSES 201,397 872,590 579,163 407,433 93,539 838,623 90,801
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (152,758) (659,877) (544,681) (395,938) (92,725) 265,711 (53,644)
TOTAL DEBT SERVICE - - - - - - -
CAPITAL OUTLAY 59,733 - - 7,550 - - -
Transfers In - - 8,677 - - - -
Transfers Out - - - - - - -
NET TRANSFERS - - 8,677 - - - -
CHANGE IN FUND BALANCE (212,491) (659,877) (536,004) (403,488) (92,725) 265,711 (53,644)
BEGINNING FUND BALANCE, Jan 1 13,277,635 23,221,020 9,021,343 937,922 428,724 6,935,644 19,928,792
ENDING FUND BALANCE, Jan 31 13,065,144$ 22,561,143$ 8,485,339$ 534,434$ 335,999$ 7,201,355$ 19,875,148$
Insurance Reserves - 18,100,000 - - - 4,561,072 19,875,148
Opearting Reserves 10,771,120 - 3,301,303 - - - -
AVAILABLE FUND BALANCE 2,294,024$ 4,461,143$ 5,184,036$ 534,434$ 335,999$ 2,640,283$ -$
Monthly Financial Report City of Renton, Washington January 2023
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 -$ -$
Investment Earnings 15,312 -
Collected for Others - 211,329
TOTAL REVENUES 15,312 211,329
EXPENDITURES:
Distributions to Others 56,547 350,376
TOTAL EXPENDITURES 18,660 350,376
NET TRANSFERS - -
CHANGE IN FUND BALANCE (3,348) (139,047)
BEGINNING FUND BALANCE, Jan 1 8,733,791 -
ENDING FUND BALANCE, Jan 31 8,730,443$ (139,047)$
Monthly Financial Report City of Renton, Washington January 2023
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 January 31, 2023
Funds
Balance
01/01/2022
Budgeted
Revenue
Revenue
01/31/23
Total Funds
Available
Budgeted
Expenditure
Expenditure
01/31/23 Ending Balance
GENERAL FUND 83,605,978 125,712,830 9,258,516 92,864,494 128,494,420 7,263,993 85,600,501
SPECIAL REVENUE FUNDS:10,967,354 5,152,674 439,160 11,406,514 1,633,309 (3,134) 11,409,648
110 Hotel Motel 712,384 200,000 35,665 748,049 - (5,860) 753,909
127 Cable Communication 453,147 57,674 15,127 468,274 97,674 2,097 466,177
130 Housing and Supportive Services 6,110,390 3,500,000 363,194 6,473,584 - - 6,473,584
135 Springbrook Wetlands Bank 454,628 - 854 455,482 40,000 629 454,853
140 Police Seizure 339,814 - 632 340,446 - - 340,446
141 Police CSAM Seizure 172,804 - 418 173,222 - - 173,222
31X School District Impact Mitigation - 995,000 14,837 14,837 995,000 - 14,837
304 Fire Mitigation 2,724,187 400,000 8,433 2,732,620 500,635 - 2,732,620
DEBT SERVICE FUND 5,262,665 3,660,280 28,959 5,291,624 3,465,948 20,769 5,270,855
CAPITAL PROJECT FUNDS (CIP):57,657,726 10,818,500 2,373,051 60,030,777 8,555,625 255,145 59,775,632
303 Community Services Mitigation 1,595,389 86,500 13,603 1,608,992 50,000 - 1,608,992
305 Transportation Mitigation 6,964,011 1,780,000 76,587 7,040,598 750,000 - 7,040,598
308 REET1 3,049,711 2,300,000 100,867 3,150,578 - - 3,150,578
309 REET2 6,019,961 2,300,000 106,396 6,126,357 3,403,625 - 6,126,357
316 Municipal Facilities CIP 24,671,384 1,390,000 49,983 24,721,367 1,390,000 45,805 24,675,562
317 Transportation CIP 12,561,975 2,962,000 2,018,694 14,580,669 2,962,000 23,044 14,557,625
346 New Family First Center Dvlpmnt 2,795,295 - 6,921 2,802,216 - 186,296 2,615,920
ENTERPRISE FUNDS:120,097,653 95,268,427 4,574,790 124,672,443 96,376,491 3,219,885 121,452,558
4X2 Airport Operating & CIP 8,925,689 3,051,767 164,123 9,089,812 2,387,494 121,492 8,968,320
403 Solid Waste Utility 3,951,191 25,173,583 (1,367,686) 2,583,505 25,764,434 (122,587) 2,706,092
4X4 Golf Operating & CIP 1,609,927 3,230,125 165,367 1,775,294 2,956,476 131,740 1,643,554
4X5 Water Operating & CIP 48,208,077 19,317,468 1,557,949 49,766,026 17,876,995 576,507 49,189,519
4X6 Waste Water Operating & CIP 22,850,871 12,064,965 1,084,757 23,935,628 10,911,188 391,680 23,543,948
416 King County Metro 6,237,142 19,358,929 1,716,216 7,953,358 19,358,929 1,681,151 6,272,207
4X7 Surface Water Operating & CIP 28,314,756 13,071,590 1,254,064 29,568,820 17,120,975 439,902 29,128,918
INTERNAL SERVICE FUNDS:73,751,080 46,349,003 1,458,311 75,209,391 44,226,678 3,150,829 72,058,562
501 Equipment Repair/Replacement 13,277,635 6,738,394 48,639 13,326,274 5,296,129 261,130 13,065,144
502 Insurance 23,221,020 4,997,328 212,713 23,433,733 5,850,375 872,590 22,561,143
503 Information Services 9,021,343 8,480,026 43,159 9,064,502 8,088,332 579,163 8,485,339
504 Facilities 937,922 6,952,137 11,495 949,417 6,808,241 414,983 534,434
505 Communications 428,724 1,593,402 814 429,538 1,610,237 93,539 335,999
512 Insurance, Healthcare 6,935,644 15,702,716 1,104,334 8,039,978 15,203,573 838,623 7,201,355
522 Insurance, Leoff1 Retirees HC 19,928,792 1,885,000 37,157 19,965,949 1,369,791 90,801 19,875,148
FIDUCIARY FUNDS:8,733,791 400,000 226,641 8,960,432 253,475 369,036 8,591,396
611 Firemens' Pension 8,733,791 400,000 15,312 8,749,103 253,475 18,660 8,730,443
630 Custodial Fund - - 211,329 211,329 - 350,376 (139,047)
TOTAL FUNDS 360,076,247 287,361,714 18,359,428 378,435,675 283,005,946 14,276,523 364,159,152