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HomeMy WebLinkAboutQUARTER 1 2023Page 1 of 33   OVERVIEW  This quarterly financial report reflects the city’s revenue and expenditures/expenses for the fiscal year through March 31,  2023. A detailed analysis, including current to prior year and budget to actual comparison is included for each city fund.  Excluded from this report are the city’s fiduciary funds as these funds are held on behalf of others and are not available for  city use. Budget figures shown reflect amounts authorized in ORD 6110, which includes the year end budget adjustment  approved May 1, 2023.     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 YTD revenues and expenditures for the General Fund, including comparison to prior  year, comparison to YTD budget amounts, and percentage of annual budget. YTD budget amounts are generally based on  the collection/disbursement patterns for the same period of the preceding two (2) years, with the following exceptions:  property tax revenue budgets are based on the collection patterns over the preceding four (4) years and sales tax revenue  budgets are based on the collection patterns over the preceding five (5) years.               General Fund YTD Prior Year YTD YTD Budget % BUDGET REVENUES Taxes 18,887,683$      99,476,943$    18,744,591$      20,522,809$      1,635,126$        1,778,218$        20.63% Licenses & Permits 2,228,173            5,792,660          1,761,842            2,218,372            (9,801)$                 456,530                38.30% Intergovernmental 1,041,125            9,018,969          1,396,264            1,435,738            394,613$             39,474                   15.92% Charges  for Services 2,277,969            10,901,474       2,710,388            2,800,603            522,634$             90,215                   25.69% Fines  and Penalties 1,060,576            3,841,442          768,430                 935,110                 (125,466)$           166,680                24.34% Miscellaneous 637,074                1,673,835          437,190                 1,233,518            596,444$             796,328                73.69% Other  Financing Sources  (Transfer‐In, etc) 8,482                      976,216               976,216                 48,467                    39,985$                (927,749)              4.96% TOTAL  REVENUES 26,141,082         131,681,539    26,794,921         29,194,617         3,053,535           2,399,696           22.17% EXPENDITURES City Attorney 646,653                3,227,575          800,162                 745,399                 (98,746)                 54,763                   23.09% Community and Economic  Development 2,462,200            14,527,107       4,271,845            2,974,640            (512,440)              1,297,205           20.48% Council 128,566                743,244               189,712                 170,349                 (41,783)                 19,363                   22.92% Court Services 707,412                3,512,292          860,338                 777,128                 (69,716)                 83,210                   22.13% Equity, Housing, and Human Services 745,567                5,060,611          927,365                 590,338                 155,229                337,027                11.67% Executive  Services 1,289,834            6,319,430          1,436,628            1,690,364            (400,530)              (253,736)              26.75% Finance 896,508                5,355,521          1,136,404            1,070,014            (173,506)              66,390                   19.98% Human Resources 372,002                1,926,672          443,241                 421,288                 (49,286)                 21,953                   21.87% Parks  and Recreation 3,024,716            17,289,056       3,872,779            3,304,003            (279,287)              568,776                19.11% Police 10,006,985         49,766,333       11,967,462         12,002,819         (1,995,834)          (35,357)                 24.12% Public Works 3,597,293            16,922,802       4,161,336            3,966,473            (369,180)              194,863                23.44% Other Non‐Departmental 1,104,682            12,611,344       1,288,874            663,853                 440,829                625,021                5.26% TOTAL  EXPENDITURES 24,982,418         137,261,987    31,356,145         28,376,668         (3,394,250)          2,979,477           20.67% Change in Fund Balance 1,158,664            (5,580,448)         (4,561,224)           817,949                 (340,715)              5,379,173           N/A Beginning Fund Balance 69,102,662         83,605,978       83,605,978         83,605,978         14,503,316         ‐                            100.00% ENDING FUND BALANCE 70,261,326$      78,025,530$    79,044,754$      84,423,927$      14,162,601$     5,379,173$        108.20% Operating Reserve  13,994,674         10,980,959       10,980,959         10,980,959          Economic Development Reserve 2,500,000            2,500,000          2,500,000            2,500,000             AVAILABLE FUND BALANCE 53,766,652$      64,544,571$    65,563,795$      70,942,968$       Favorable (Unfavorable) 2022 2023 Variance YTD Actual Annual Budget YTD Budget YTD Actual Summary of Sources and Uses Quarterly Financial Report 1st Quarter 2023  Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 2 of 33   GENERAL FUND REVENUES  The following tables provide a more detailed summary of each revenue category within the General Fund. Detailed  explanations have been provided for variances from prior year or YTD budget in excess of $100K.  All variances are shown in  a favorable/(unfavorable) format.    TAXES     Property Tax – Property tax collections by King County are above prior year and the YTD budget. The increase over prior  year is because the property tax levy was increased the allowable 1% by state law as well as an additional levy of $1.5M.  Taxes are above the YTD budget due to collections from the prior year levy of 110K, as well as the levy increase due to new  construction.    Local Retail Sales Tax – Local retail sales tax exceeded prior year and YTD budget. The majority of the increase in local retail  sale tax revenues over the prior year is coming from the services, construction, and manufacturing sectors.  It is important  to note that sales tax revenues have a two‐month lag between the time of the sale and the city’s receipt of the sale tax  from the State.  Please see the March sales tax report for information regarding sales tax figures by industry.    Criminal Justice Sales Tax – Criminal justice sales tax represents a 0.1% sales tax imposed by the county for criminal justice  purposes. The county must share 90% of the revenue collected with all cities and towns in the county on a per capita basis.  The increase in criminal justice sales tax directly relates to the increase in local retail sales tax, as described above.    Natural Gas Use Tax – Natural gas use tax represents a 6% tax on the usage of natural gas within the city that has not  otherwise been subject to city utility tax. The increase over 2023 budget is due to higher than anticipated usage which  fluctuates from year to year and is only paid by a limited number of larger companies.     Admissions Tax – An increase in admission tax over prior year is due to the economic recovery from the pandemic where  many locations remained on limited capacity or were not operating their events in the first quarter of 2022. Admissions tax  is performing higher than budget due to the recent opening of a large new taxpayer in Renton resulting in higher tax  collection.      Utility Tax – Electrical and natural gas are the primary drivers of the increase over prior year and amount above YTD budget  due to increased customer rates coupled with increased utility usage. Rates for utility users beginning January 2023  increased 8.7% for electricity and 6.4% for natural gas. The breakdown of utility tax is as follows:  2022 2023 2023 Actual Budget Actual $ % $ % Property Tax 1,101,265            1,146,383             1,255,138            153,873              14.0% 108,755              9.5% Local Retail  Sales  Tax 8,834,459            8,424,657             9,398,449            563,990              6.4% 973,792              11.6% State Sales  Tax  Credit 74,932                    72,845                    56,793                    (18,139)                ‐24.2% (16,052)                ‐22.0% Criminal Justice Sales  Tax 910,745                 737,966                 979,863                 69,118                 7.6% 241,897              32.8% Natural Gas Use  Tax 67,778                    61,002                    161,387                 93,609                 138.1% 100,385              164.6% Admission  Tax 32,148                    67,203                    198,376                 166,228              517.1% 131,173              195.2% Utility Tax 4,720,823            4,473,160             4,963,437            242,614              5.1% 490,277              11.0% Leasehold Excise  Tax 34,443                    39,687                    44,005                    9,562                    27.8% 4,318                    10.9% Gambling Excise  Tax 651,433                 515,048                 798,650                 147,217              22.6% 283,602              55.1% B&O Tax 2,459,657            3,206,639             2,666,711            207,054              8.4%(539,928)             ‐16.8% YTD  Total 18,887,683$      18,744,591$       20,522,809$      1,635,126$      8.7% 1,778,218$      9.5% Annual  Total 102,213,407$   99,476,943$        Taxes  by Type Revenue 2023 vs. 2022 2023 vs. Budget Year to Date through March Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 3 of 33       Gambling Excise Tax – Gambling excise tax can fluctuate based on the economy; therefore, budget is established based on  a historical average from prior years. Current year revenue is above budget and prior year due to substantial increases from  the card games tax.      Business and Occupation (B&O) Tax – B&O tax revenues are under budget due to a $1.8M increase in budget from prior  year attributed to the change in tax cap. Actuals from the tax cap increase will not be reflected until later in the year; first  quarter payments primarily relate to prior year previous to tax cap increase. The amount over prior year is due to an  increase in collections which is commensurate with sales tax revenue increases from prior year.     LICENSES & PERMITS      Business Licenses – The increase of business license revenue over budget is due to an increase in collections of businesses  filing their renewals within the first three months of the year in addition to license revenue coming in higher than  anticipated.     Building Permits – Building permits are collected upon permit issuance. Building permit revenue is exceeding budget due to  a general increase in the construction industry, as well as a few larger projects such as the new Sounders facility and the  Wizards of the Coast tenant improvements at the Southport Campus.     INTERGOVERNMENTAL            2022 2023 2023 Tax  by Type YTD  Actual YTD  Budget YTD Actual $ % $ % Electrical 1,728,402$     1,657,578$         1,874,139$                145,737$                    8.4% $      216,561 13.1% Natural Gas 704,189            645,732                 862,129                       157,940                       22.4%          216,397 33.5% Cell 148,000            127,352                 135,161                       (12,839)                          ‐8.7%                7,809 6.1% Phone 185,776            159,239                 151,999                       (33,777)                          ‐18.2%              (7,240)‐4.6% Cable 344,143            397,978                 327,550                       (16,593)                          ‐4.8%           (70,428)‐17.7% Garbage 193,942            196,038                 172,487                       (21,455)                          ‐11.1%           (23,551)‐12.0% City Utilities 1,416,371        1,289,243            1,439,972                   23,601                          1.7%          150,729 11.7% YTD  Total 4,720,823$     4,473,160$         4,963,437$                242,614$                    5.1%490,277$      11.0% 2023 vs. 2022 2023 vs. Budget 2022 2023 2023 Actual Budget Actual $ % $ % Franchise  Fees 424,613                 437,814                 367,026                 (57,587)                ‐13.6% (70,788)                ‐16.2% Business Licenses 721,667                 596,701                 776,625                 54,958                 7.6% 179,924              30.2% Animal  Licenses 16,720                    17,400                    17,810                    1,090                    6.5% 410                        2.4% Building Permits 1,050,867            695,480                 1,049,636            (1,231)                   ‐0.1%354,156              50.9% ROW/Street Excavation  Permits 13,880                    14,112                    7,190                       (6,690)                   ‐48.2% (6,922)                   ‐49.1% Special  Event  Permits 425                           333                            85                              (340)                        ‐80.0% (248)                        ‐74.5% YTD  Total 2,228,173$         1,761,842$          2,218,372$         (9,800)$                ‐0.4%456,531$           25.9% Annual  Total 7,455,983$         5,792,660$           Year to Date through March Revenue 2023 vs. 2022 2023 vs. Budget Licenses & Permits by Type 2022 2023 2023 Actual Budget Actual $ % $ % State Shared Revenue 988,904                 1,002,474$          1,008,476            19,572$              2.0% 6,002$                 0.6% Federal Grants 14,537                    153,746                 292,588                 278,051              1912.7% 138,842              90.3% State Grants 13,811                    120,996                 94,762                    80,951                 586.1%(26,234)                ‐21.7% Local Grants 23,873                    119,048                 39,912                    16,039                 67.2%(79,136)                ‐66.5% YTD  Total 1,041,125$         1,396,264$          1,435,738$         394,613$           37.9% 39,474$              2.8% Annual  Total 17,604,837$      9,018,969$           Intergovernmental by Type Revenue 2023 vs. 2022 2023 vs. Budget Year to Date through March Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 4 of 33   State Shared Revenue – The breakdown of state shared revenue is as follows:        Federal/State/Local Grants – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of  grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is  budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to  reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried  forward each year until the grant funds are fully received or the grant agreement expires. The variance is largely due to  CDBG Coronavirus grant funds received in 2023.    CHARGES FOR SERVICES       Public Safety Services – The decrease in public safety services from prior year and budget is primarily due to a decrease in  police school resource officers. Only one of three is currently being utilized due to Renton School District slowly restarting  this program after a pause was put on the program during the pandemic. Private security revenue has also contributed to  the decrease due to staffing shortfalls and the need to cover minimum staffing of city operations before contracting officers  for private security opportunities.     Development Services ‐ The increase in development services from prior year and budget is due to an increase in fees for  permits, plan checks, and inspections.  A significant project at the cedar river apartments is the primary driver of the  increase due to the assessment of a one‐time fee of $118K in 2023.    Recreation/Farmer’s Market/Events – The increase over prior year and budget is largely due to a significant amount of the  recreation facilities being closed through April of 2022 the decreased revenue in prior years impacts the budget as we  calculate YTD revenues using the two prior year’s average collections. The amount over budget is also partially due to  receiving payment for the SEEK grant of $129K that was not budgeted. As we move through the summer months these  figures should be more consistent with prior year and budget.      Interfund Services – Interfund services revenue increased from prior year is due to the newly created sustainability division  which utility funds are charged for their representative share of expenditures. The amount under the 2023 budget is due to  2022 2023 2023 Tax  by Type YTD  Actual YTD  Budget YTD Actual$%$% Judicial Contribution 10,776$         18,752$         11,239$         463$               4.3%(7,513)$          ‐40.1% Crim Just ‐ Pop 8,919               5,983               9,399               480                  5.4% 3,416              57.1% Crim Just ‐ Spec Prog 31,700            27,481            33,252            1,552              4.9% 5,771              21.0% Crim Just ‐ One  Time ‐                            ‐                           44,715            44,715           N/A 44,715           100.0% State  DUI 4,479               5,263               131                    (4,348)             ‐97.1% (5,132)             ‐97.5% Marijuana  Distribution 65,215            49,180            70,255            5,040              7.7% 21,075           42.9% Liquor Profits 207,761         200,020         205,468         (2,293)             ‐1.1%5,448              2.7% Liquor Excise  Tax 180,388         178,778         178,141         (2,247)             ‐1.3% (637)                  ‐0.4% Fuel  Tax 479,666         517,017         455,876         (23,790)          ‐5.0% (61,141)          ‐11.8% YTD  Total 988,904$      1,002,474$  1,008,476$  19,572$        2.0%6,002$           0.6% 2023 vs. 2022 2023 vs. Budget 2022 2023 2023 Actual Budget Actual $ % $ % Passport Fees 2,695                       3,878                       2,380                       (315)                        ‐11.7% (1,498)                   ‐38.6% Court Services 13,821                    189                            31,144                    17,324                 125.3% 30,957                 16415.6% General Government Services 90                               ‐                                   27                              (63)                           ‐70.4%27                           100.0% Public Safety Services 255,853                 379,270                 152,812                 (103,041)             ‐40.3% (226,457)             ‐59.7% Development Services 527,529                 476,853                 694,314                 166,785              31.6% 217,461              45.6% Transportation Services 275                            ‐                                   438                           163                        59.1% 438                        100.0% Social  Services 106,235                 39,363                    63,508                    (42,727)                ‐40.2%24,145                 61.3% Recreation/Farmer's  Market/Events 83,598                    69,960                    338,885                 255,286              305.4% 268,925              384.4% Interfund Services 1,287,872            1,740,876             1,517,095            229,223              17.8%(223,781)             ‐12.9% YTD Total 2,277,969$         2,710,388$          2,800,603$         522,635$           22.9% 90,217$              3.3% Annual Total 10,101,988$      10,901,474$        Year  to Date through March Charges for  Services  by Type Revenue 2023 vs. 2022 2023 vs. Budget Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 5 of 33   soft capital transfers being based on actual time spent on the projects by personnel within the general fund which are less  than budgeted through March.    FINES AND PENALTIES      Photo Enforcement Program – Photo enforcement is currently over the 2023 budget due to an increase in collections of  prior fines as the city has contracted with a new collections company and has seen a significant increase.     MISCELLANEOUS REVENUES      Interest and Other Investment Earnings – Investment earnings have varied over the past couple of years as the market has  seen uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds  rate, and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government  Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or  increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.     Rents, Leases, and Concessions – Rents, leases, and concessions revenues are currently over the 2023 budget due to the  timing of rents received by the Coulon food concessionaire for their 2022 annual payment ($197K).     OTHER FINANCING SOURCES      Transfers from Other Funds – The amount under budget is due to the timing of budgeted transfers. Annual transfers occur  in December each year.         2022 2023 2023 ActualBudgetActual$%$% Civil Penalties 69,603$                 77,215$                 54,273$                 (15,331)$             ‐22.0% (22,943)$             ‐29.7% Photo Enforcement  Program 931,707                 638,524                 836,407                 (95,300)                ‐10.2%197,883              31.0% Criminal Traffic  Misdemeanor Fines 9,133                       12,696                    6,275                       (2,858)                   ‐31.3% (6,422)                   ‐50.6% Criminal Non‐Traffic  Fines 1,375                       2,239                       1,324                       (50)                           ‐3.7% (915)                        ‐40.8% Criminal Costs 8,625                       13,517                    6,651                       (1,974)                   ‐22.9% (6,866)                   ‐50.8% Non‐Court Fines, Forfeitures and Penalties 40,133                    24,239                    30,180                    (9,953)                   ‐24.8%5,942                    24.5% YTD  Total 1,060,576$         768,430$              935,110$              (125,466)$          ‐11.8%166,679$           21.7% Annual  Total 4,142,205$         3,841,442$           Year to Date through March Revenue 2023 vs. 2022 2023 vs. Budget Fines  and Penalties by Type 2022 2023 2023 Actual Budget Actual $ % $ % Interest and Other  Investment Earnings 66,687$                 37,182$                 552,397$              485,710$           728.3% 515,215$           1385.7% Rents, Leases, and Concessions 516,213                 376,430                 582,812                 66,599                 12.9% 206,382              54.8% Contributions/Donations  from  Private Source s 11,760                    3,080                       13,331                    1,571                    13.4% 10,251                 332.8% Other 42,414                    20,498                    84,978                    42,564                 100.4% 64,480                 314.6% YTD  Total 637,074$              437,190$              1,233,518$         596,444$           93.6% 796,328$           182.1% Annual Total 2,914,453$         1,673,835$           Miscellaneous by Type Year to Date through March Revenue 2023 vs. 2022 2023 vs. Budget 2022 2023 2023 Actual Budget Actual $ % $ % Transfers  from Other Funds ‐$                                930,000$              33,750$                 33,750                 100.0%(896,250)             ‐96.4% Interfund Loan Payment Received 3,851                       46,216                    11,092                    7,241                    188.0%(35,124)                ‐76.0% Insurance Recoveries 2,631                        ‐                                   3,625                       994                        37.8% 3,625                    100.0% Sale of Capital Assets 2,000                        ‐                                    ‐                                   (2,000)                  0.0%‐                                N/A YTD  Total 8,482$                    976,216$              48,467$                 39,985$              471.4%(927,749)$          ‐95.0% Annual Total (80,254)$               976,216$               Revenue 2023 vs. 2022 2023 vs. Budget Year to Date through March Other Financing Sources  by Type Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 6 of 33   GENERAL FUND EXPENDITURES    The following tables summarize expenditures by category for each department within the General Fund.         Personnel – Personnel costs are budgeted at 100% of the position cost each year resulting in a budget variance if positions  remain open for any part of the year. The increase in personnel costs over prior year is due to filling positions that were  previously held vacant in 2022 as well as cost of living adjustments. Personnel costs under budget is due to open positions;  there are currently 71 vacancies as of March 31st.    Supplies – The amount over the year‐to‐date budget for 2023 is due to the following:   Signal supplies for damaged traffic signals (41K); these are typically reimbursed by insurance if they are due to  damage from a third party;   Snow and ice supplies for de‐icer related to weather conditions in January and February ($30K);   Police SWAT supplies, opioid overdose supply kits and radar purchase ($31K);   Police donation of Kia and Hyundai wheel lock systems; a revenue and expenditure are recognized for the donation  and subsequent pass through to the public ($29K).    Contracted Services ‐ The increase in contracted services over prior year is due to the following:    Increase in jail services due to timing of billing, in 2022 only two months were paid through Q1 and in 2023 three  months have been paid ($428K);   Increase in Valley Communications (911 call center) costs of approximately $83K due to a contractual increase in  the city’s share of Valley Communications costs;   Increase due to the timing of election costs in 2023 which have typically not been paid until later in the year  ($233K)    The amount under budget is primarily driven by the following:   Human Services of $232K allocated for housing repair currently unspent;   Economic development contracted services and professional services budget of $826K that is currently unspent  including Downtown Partnership, Shop Local program, as well unspent grant funds, these amounts are anticipated  to be spent throughout the remainder of the year;   Annual reserve budget of $1.8M of which $450K is budgeted year‐to‐date.  These budget savings were partially offset by the following:   Election costs ($233K) due to invoice timing when compared to prior years’;   Police SCORE coming in $235K higher than year‐to‐date budget due to invoice timing in prior years being paid later  in the year.    Debt Service – The decrease from prior year is due to the issuance of an interfund loan from the general fund to the  Maplewood golf course to fund the purchase of golf carts in 2022, a one‐time activity.    Internal Services – The amount increased from prior year is primarily driven by personnel costs.     General Fund Summary of Uses 2022 Year to Date through March YTD Actual YTD Budget YTD Actual $%$% Personnel 15,840,587$     19,932,466$          17,757,816$       (1,917,229)$       ‐12.1% 2,174,650$         10.9% Supplies 374,595                309,865                    430,373                  (55,778)                  ‐14.9%(120,508)               ‐38.9% Contracted Services 4,205,540           5,815,746                4,970,436             (764,896)               ‐18.2% 845,310                 14.5% Capital Outlay 16,190                   126,096                    46,017                     (29,827)                  ‐184.2% 80,079                    63.5% Debt Service 225,309                 ‐                                 ‐                              225,309                100.0%‐                             0.0% Internal Services 4,318,787           5,122,684                5,122,737             (803,950)               ‐18.6%(53)                             0.0% Transfers  Out 1,410                      49,289                       49,289                     (47,879)                  ‐3395.7%‐                             0.0% Total  Expenditures 24,982,418        31,356,145             28,376,668          (3,394,250)           ‐13.6% 2,979,477            9.5% Annual Total 130,113,119     137,261,987           2023 2023 vs. 2022 2023 vs. Budget Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 7 of 33   DEBT SERVICE FUNDS  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. YTD budgets are not prepared for debt service funds.     GENERAL GOVERNMENTAL MISCELLANEOUS DEBT FUND  The General Governmental Miscellaneous Debt Fund is the only debt service fund maintained by the city.                                           2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental ‐$                            39,170$                  19,159$         19,159$        (20,011)$         48.91% Investment Earnings 3,877                      ‐                                30,392           26,515          30,392            N/A TOTAL  REVENUES 3,877                     39,170                    49,551           45,674          10,381            126.50% EXPENDITURES: Principal 195,873                4,453,189               203,210         (7,337)           4,249,979       4.56% Interest 78,674                   1,112,501               67,876           10,798          1,044,625       6.10% TOTAL  EXPENDITURES 274,547                5,565,690               271,086         3,461            5,294,604       4.87% Transfers  In ‐                              5,715,852                ‐                        ‐                     (5,715,852)     0.00% NET TRANSFERS ‐                              5,715,852                ‐                        ‐                     (5,715,852)     0.00% CHANGE IN  FUND BALANCE (270,671)               189,332                  (221,535)        49,136          (410,867)          ‐117.01% BEGINNING FUND BALANCE, Jan 1 5,218,125             5,262,665               5,262,665      44,540           ‐                        100.00% ENDING FUND BALANCE, Mar  31 4,947,454$           5,451,997$            5,041,130$   93,676$        (410,867)$      92.46% Debt Service Reserve 2,717,575             2,717,575               2,717,575       AVAILABLE FUND BALANCE 2,229,879$           2,734,422$            2,323,555$    VARIANCE FAVORABLE (UNFAVORABLE) GENERAL  GOVERNMENTAL  MISCELLANEOUS DEBT Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 8 of 33   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. YTD budgets are not prepared for special revenue funds. Detailed explanations will be provided for  material differences between prior year and or budgeted amounts.      Hotel/Motel Fund  The Hotel/Motel Fund accounts for monies collected through an increase of 1% in hotel/motel taxes for the purpose of  increasing tourism in the City of Renton, as authorized under RCW 67.28.180. The Lodging Tax Advisory Committee solicits  applications for awards and brings their recommendations to Council for approval at least once per year. Awards for events  are paid to applicants at the conclusion of the event once certain reporting requirements have been met.                                                          2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 99,262$                200,000$                95,819$                (3,443)$                 (104,181)$             47.91% Contributions ‐                               ‐                                 ‐                               ‐                               ‐                              N/A Investment Earnings 579                         ‐                                4,642                     4,063                     4,642                     N/A TOTAL  REVENUES 99,841                   200,000                   100,461                620                        (99,539)                 50.23% EXPENDITURES: Contracted Services 53,048                   424,616                   31,752                   21,296                   392,864                7.48% TOTAL  EXPENDITURES 53,048                   424,616                   31,752                   21,296                   392,864                7.48% Transfers  Out ‐                              (30,000)                     ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                              (30,000)                     ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 46,793                   (254,616)                 68,709                   21,916                   323,325                 ‐26.99% BEGINNING FUND BALANCE, Jan 1 728,421                712,384                   712,384                (16,037)                  ‐                              97.80% ENDING FUND BALANCE, Mar  31 775,214$              457,768$                781,093$              5,879$                   323,325$              100.76% VARIANCE FAVORABLE (UNFAVORABLE) HOTEL/MOTEL Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 9 of 33   Cable Communications Fund  The Cable Communications Fund accounts for funding for promotion and development of cable communications as  established by city ordinance. The main use of the fund is to support the broadcasting of City Council meetings on Channel  21.        Housing & Supportive Services  In accordance with HB 1590, the City Council passed ORD 5983 authorizing an additional 0.1% sales and use tax, effective  January 1, 2021. The additional sales and use tax is restricted for housing and related services, in accordance with RCW  82.14.530.       Taxes – Taxes have exceeded prior year and are currently on track to exceed the annual budget. This tax revenue will  increase or decrease with the economy as it is a direct sales tax upon consumer purchases.            2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses  and permits 16,598$                57,674$                    14,244$                (2,354)$                 (43,430)$               24.70% Investment Earnings 565                         ‐                                  2,795                     2,230                     2,795                     N/A TOTAL  REVENUES 17,163                   57,674                      17,039                   (124)                       (40,635)                 29.54% EXPENDITURES: Supplies 6,205                     70,214                      1,426                     (4,779)                    68,788                   2.03% Contracted Services 1,930                     51,372                      8,662                     6,732                     42,710                   16.86% Capital  Outlay ‐                              40,000                       ‐                               ‐                              40,000                   0.00% TOTAL  EXPENDITURES 8,135                     161,586                    10,088                   1,953                     151,498                6.24% Transfers  In ‐                               ‐                                   ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                               ‐                                   ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 9,028                     (103,912)                   6,951                     (2,077)                    110,863                N/A BEGINNING FUND BALANCE, Jan 1 731,245                453,147                    453,147                (278,098)                ‐                              100.00% ENDING FUND BALANCE, Mar  31 740,273$              349,235$                  460,098$              (280,175)$             110,863$              131.74% CABLE COMMUNICATIONS VARIANCE FAVORABLE (UNFAVORABLE) 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 1,017,318$           3,500,000$              1,099,368$           82,050$                (2,400,632)$         31.41% Investment Earnings 2,675                      ‐                                  38,279                   35,604                   38,279                   N/A TOTAL  REVENUES 1,019,993             3,500,000                 1,137,647             117,654                (2,362,353)            32.50% EXPENDITURES: Contracted Services ‐                               ‐                                   ‐                               ‐                               ‐                              N/A TOTAL  EXPENDITURES ‐                               ‐                                   ‐                               ‐                               ‐                              N/A Transfers  In ‐                               ‐                                   ‐                               ‐                               ‐                              N/A Transfers  Out ‐                              (3,000,000)                ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                              (3,000,000)                ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 1,019,993             500,000                    1,137,647             117,654                637,647                227.53% BEGINNING FUND BALANCE, Jan 1 3,171,729             6,110,390                 6,110,390             2,938,661              ‐                              100.00% ENDING FUND BALANCE, Mar  31 4,191,722$           6,610,390$              7,248,037$           3,056,315$           637,647$              109.65% HOUSING & SUPPORTIVE SERVICES VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 10 of 33   Springbrook Wetlands Fund  The Springbrook Wetlands Fund was established in 2007 for the purpose of providing accounting for the Springbrook Creek  Wetland and Habitat Mitigation Bank project. The proceeds of selling wetlands credits will be used to fund the ongoing  maintenance of the wetland in perpetuity.      Police Seizure Fund  The Police Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the  accounting for assets seized by Police in accordance with RCW 9A.83.030 and 69.50.505, previously accounted for within  the General Fund. These seizure funds are restricted to use exclusively for the expansion and improvement of controlled  substances related law enforcement activity.  The total fund balance remaining at the end of the year is budgeted in full the  following year.                    2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Investment Earnings 177$                       ‐$                               2,685$                   2,508$                   2,685$                   N/A Sale of credits ‐                               ‐                                  ‐                               ‐                               ‐                              N/A TOTAL  REVENUES 177                         ‐                                 6,696                     6,519                     6,696                     N/A EXPENDITURES: Personnel 1,610                      ‐                                 2,997                     (1,387)                    (2,997)                    N/A Contracted Services 358                        40,000                       ‐                              358                        40,000                   0.00% TOTAL  EXPENDITURES 1,968                     40,000                      2,997                     (1,029)                    37,003                   7.49% NET TRANSFERS ‐                               ‐                                  ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE (1,791)                    (40,000)                    3,699                     5,490                     43,699                   N/A BEGINNING FUND BALANCE, Jan 1 234,325                454,628                   454,628                220,303                 ‐                              100.00% ENDING FUND BALANCE, Mar  31 232,534$              414,628$                 458,327$              225,793$              43,699$                110.54% SPRINGBROOK WETLANDS VARIANCE FAVORABLE (UNFAVORABLE) 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Contributions 1,881$                    ‐$                               63,010$                61,129$                63,010$                N/A Investment Earnings 459                         ‐                                 1,980                     1,521                     1,980                     N/A TOTAL  REVENUES 2,340                      ‐                                 64,990                   62,650                   64,990                   N/A EXPENDITURES: Supplies 41,304                   339,814                   448                        (40,856)                 339,366                0.13% Contracted Services 52,409                    ‐                                 14,090                   (38,319)                 (14,090)                 N/A Capital  Outlay 75,622                    ‐                                  ‐                              (75,622)                  ‐                              N/A TOTAL  EXPENDITURES 169,335                339,814                   14,538                   (154,797)               325,276                4.28% Transfers  Out ‐                               ‐                                  ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                               ‐                                  ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE (166,995)               (339,814)                  50,452                   217,447                390,266                N/A BEGINNING FUND BALANCE, Jan 1 631,525                339,814                   339,814                (291,711)                ‐                              100.00% ENDING FUND BALANCE, Mar  31 464,530$               ‐$                               390,266$              (74,264)$               390,266$              N/A POLICE SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 11 of 33     Police CSAM Seizure Fund  The Police CSAM Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the  accounting for assets seized by Police in accordance with RCW 9A.88.150, previously accounted for within the General  Fund. These seizure funds are restricted to the exclusive use of enforcing the provisions of chapter 9A.88 RCW, Indecent  Exposure‐Prostitution, or chapter 9.68A RCW, Sexual Exploitation of Children.        Fire Impact Mitigation Fund  This fund accounts for fire impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are  used to offset the cost of system improvements necessary to serve the new development. Impact fees are held in this fund  and subsequently transferred to the debt service fund to support the debt service on fire station 13. Once the debt on the  fire station is repaid, the remaining collections will be disbursed to the Renton Regional Fire Authority for use on qualifying  capital projects.          Charges for services ‐ The decrease in charges for services is primarily due to a one‐time collection in 2022 for a building  permit issued for a conversion for King County Health Through Housing improvements.     Transfers Out – The amount budgeted as a transfer out represents the final debt payoff approved for the Fire Station 13  intergovernmental debt with King County.   2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Fines  and penalties 1,347$                    ‐$                               384$                      (963)$                     384$                      N/A Investment Earnings 133                         ‐                                 1,017                     884                        1,017                     N/A TOTAL  REVENUES 1,480                      ‐                                 1,401                     (79)                         1,401                     N/A EXPENDITURES: Contracted Services ‐                              172,804                   4,544                     4,544                     (168,261)               2.63% Capital  Outlay ‐                               ‐                                  ‐                               ‐                               ‐                              N/A TOTAL  EXPENDITURES ‐                              172,804                   4,544                     4,544                     168,260                2.63% NET TRANSFERS ‐                               ‐                                  ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 1,480                     (172,804)                  (3,143)                    (4,623)                    169,661                N/A BEGINNING FUND BALANCE, Jan 1 174,826                172,804                   172,804                (2,022)                     ‐                              100.00% ENDING FUND BALANCE, Mar 31 176,306$               ‐$                               169,661$              (6,645)$                 169,661$              N/A POLICE CSAM SEIZURE VARIANCE FAVORABLE (UNFAVORABLE) 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for services 139,980$              400,000$                15,786$                (124,194)$             (384,214)$             3.95% Investment Earnings 1,529                      ‐                                16,046                   14,517                   16,046                   N/A TOTAL  REVENUES 141,509                400,000                  31,832                   (109,677)               (368,168)               7.96% EXPENDITURES: Contracted Services ‐                              528,810                   ‐                               ‐                              (528,810)               0.00% TOTAL  EXPENDITURES ‐                              528,810                   ‐                               ‐                              528,810                0.00% Transfers  Out ‐                              (2,595,377)               ‐                               ‐                              (2,595,377)            0.00% NET TRANSFERS ‐                              (2,595,377)               ‐                               ‐                              2,595,377             0.00% CHANGE IN  FUND BALANCE 141,509                (2,724,187)              31,832                   (109,677)               2,756,019              ‐1.17% BEGINNING FUND BALANCE, Jan 1 1,960,733             2,724,187               2,724,187             763,454                 ‐                              100.00% ENDING FUND BALANCE, Mar  31 2,102,242$            ‐$                              2,756,019$           653,777$              2,756,019$           N/A FIRE IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 12 of 33   School District Impact Mitigation  This fund accounts for school district impact fees collected from developers as authorized under RCW 82.02.050‐.110.  These fees are used to help offset the cost of system improvements necessary to service the new development. Impact fees  are held in this fund and subsequently transferred to the Kent, Issaquah, or Renton School District for use on qualifying  capital projects.          Charges for services – Charges for services have decreased from prior year and are behind the expected budget percentage  through March. The impact fee revenues are collected from developers and may significantly fluctuate year to year based  on the development projects around the city.    2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for services 139,636$              995,000$                 64,974$                (74,662)$               (930,026)$             6.53% Investment Earnings 37                            ‐                                 132                        95                           132                        N/A TOTAL  REVENUES 139,673                995,000                    65,106                   (74,567)                 (929,894)               6.54% EXPENDITURES: Contracted Services 100,647                995,000                    40,716                   (59,931)                 954,284                4.09% TOTAL  EXPENDITURES 100,647                995,000                    40,716                   (59,931)                 954,284                4.09% NET TRANSFERS ‐                               ‐                                  ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 39,026                    ‐                                 24,390                   (14,636)                 24,390                   N/A BEGINNING FUND BALANCE, Jan 1 12                            ‐                                  ‐                              (12)                          ‐                              N/A ENDING FUND BALANCE, Mar 31 39,038$                 ‐$                               24,390$                (14,648)$               24,390$                N/A SCHOOL DISTRICT IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 13 of 33   CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. YTD  budgets are not prepared for capital project funds. Project budgets are adopted when funding is secured, and balances are  carried forward each year until they are either 1) fully spent or 2) reallocated to another project through the budget  adjustment process. Detailed explanations will be provided for material differences between prior year and or budgeted  amounts.      Community Services Impact Mitigation Fund   This fund accounts for park impact fees collected from developers as authorized under RCW 82.02.050‐.110. These fees are  used to help offset the cost of system improvements necessary to service the new development. Impact fees are held in  this fund and subsequently transferred to the Municipal Facilities CIP Fund when qualifying capital projects are budgeted.             2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for services 64,747$                86,500$                  48,337$                (16,410)$               (38,163)$               55.88% Investment Earnings 2,621                      ‐                                9,448                     6,827                     9,448                     N/A TOTAL  REVENUES 67,368                   86,500                     57,785                   (9,583)                    (28,715)                 66.80% EXPENDITURES: TOTAL  EXPENDITURES ‐                               ‐                                 ‐                               ‐                               ‐                              N/A Transfers  In ‐                               ‐                                 ‐                               ‐                               ‐                              N/A Transfers  Out ‐                              (950,000)                  ‐                               ‐                              (950,000)               0.00% NET TRANSFERS ‐                              (950,000)                  ‐                               ‐                              950,000                0.00% CHANGE IN  FUND BALANCE 67,368                   (863,500)                 57,785                   (9,583)                    921,285                 ‐6.69% BEGINNING FUND BALANCE, Jan 1 3,433,393             1,595,389               1,595,389             (1,838,004)             ‐                              100.00% ENDING FUND BALANCE, Mar  31 3,500,761$           731,889$                1,653,174$           (1,847,587)$         921,285$              225.88% COMMUNITY  SERVICES IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 14 of 33   Transportation Impact Mitigation Fund  This fund accounts for transportation impact fees collected from developers as authorized under RCW 82.02.050‐.110.  These fees are used to offset the cost of system improvements necessary to serve the new development. Impact fees are  held in this fund and subsequently transferred to the Capital Improvement Fund when qualifying projects are budgeted.        Charges for Services – The decrease in charges for services is primarily due to decreased impact fees as large one‐time  project payments were received in Q1 2022 for the King County administration building and Solera projects.          2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for services 1,941,631$           1,780,000$              162,456$              (1,779,175)$         (1,617,544)$         9.13% Investment Earnings 4,619                      ‐                                 41,278                   36,659                   41,278                   N/A TOTAL  REVENUES 1,946,250             1,780,000                203,734                (1,742,515)            (1,576,266)            11.45% EXPENDITURES: TOTAL  EXPENDITURES ‐                               ‐                                  ‐                               ‐                               ‐                              N/A Transfers  Out ‐                              (5,785,897)                ‐                               ‐                              (5,785,897)            0.00% NET TRANSFERS ‐                              (5,785,897)                ‐                               ‐                              (5,785,897)            0.00% CHANGE IN  FUND BALANCE 1,946,250             (4,005,897)               203,734                (1,742,516)            4,209,631             N/A BEGINNING FUND BALANCE, Jan 1 5,159,035             6,964,011                6,964,011             1,804,976              ‐                              100.00% ENDING FUND BALANCE, Mar 31 7,105,285$           2,958,114$              7,167,745$           62,460$                4,209,631$           242.31% TRANSPORTATION  IMPACT MITIGATION VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 15 of 33   REET 1 Fund  This fund was established in the 2nd quarter of 2020 to account for the first quarter percent of real estate excise tax (REET)  levied in accordance with RCW 82.46.010. The tax may be used for eligible capital projects, as defined in RCW.82.46.010(6),  that are included in the capital facilities element of the city’s comprehensive plan. REET 1 tax revenues are held in this fund  and subsequently transferred to the appropriate capital project fund when qualifying projects are budgeted.        Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high  levels in 2022. As interest rates rise, we may continue to see some impact on real estate excise taxes.    REET 2 Fund  This fund was established in the 2nd quarter of 2020 to account for the second quarter percent of real estate excise tax  (REET) levied in accordance with RCW 82.46.035. The tax may be used for eligible capital projects, as defined in  RCW.82.46.035(5), that are included in the capital facilities element of the city’s comprehensive plan. REET 2 tax revenues  are held in this fund and subsequently transferred to the appropriate capital project fund when qualifying projects are  budgeted.        Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high  levels in 2022. As interest rates rise, we may continue to see some impact on real estate excise taxes budget.     2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 702,522$              2,300,000$              382,428$              (320,094)$             (1,917,572)$         16.63% Investment Earnings 3,600                      ‐                                 18,531                   14,931                   18,531                   N/A TOTAL  REVENUES 706,122                2,300,000                400,959                (305,163)               (1,899,041)            17.43% EXPENDITURES: TOTAL  EXPENDITURES ‐                               ‐                                  ‐                               ‐                               ‐                              N/A Transfers  In ‐                               ‐                                  ‐                               ‐                               ‐                              N/A Transfers  Out ‐                              (2,500,000)                ‐                               ‐                              (2,500,000)            0.00% NET TRANSFERS ‐                              (2,500,000)                ‐                               ‐                              2,500,000             0.00% CHANGE IN  FUND BALANCE 706,122                (200,000)                  400,959                (305,163)               600,959                 ‐200.48% BEGINNING FUND BALANCE, Jan 1 4,508,117             3,049,711                3,049,711             (1,458,406)             ‐                              100.00% ENDING FUND BALANCE, Mar 31 5,214,239$           2,849,711$              3,450,670$           (1,763,569)$         600,959$              121.09% REET 1 VARIANCE FAVORABLE (UNFAVORABLE) 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Taxes 702,522$              2,300,000$              382,429$              (320,093)$             (1,917,571)$         16.63% Investment Earnings 6,838                      ‐                                 35,991                   29,153                   35,991                   N/A TOTAL  REVENUES 709,360                2,300,000                418,420                (290,940)               (1,881,580)            18.19% EXPENDITURES: TOTAL  EXPENDITURES ‐                               ‐                                  ‐                               ‐                               ‐                              N/A Transfers  In ‐                               ‐                                  ‐                               ‐                               ‐                              N/A Transfers  Out ‐                              (3,403,625)                ‐                               ‐                              (3,403,625)            0.00% NET TRANSFERS ‐                              (3,403,625)                ‐                               ‐                              3,403,625             0.00% CHANGE IN  FUND BALANCE 709,360                (1,103,625)               418,420                (290,940)               1,522,045              ‐37.91% BEGINNING FUND BALANCE, Jan 1 8,773,145             6,019,961                6,019,961             (2,753,184)             ‐                              100.00% ENDING FUND BALANCE, Mar 31 9,482,505$           4,916,336$              6,438,381$           (3,044,124)$         1,522,045$           130.96% REET 2 VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 16 of 33   Municipal Facilities CIP Fund  This fund accounts for general governmental facility construction, improvement, and renovation; property acquisitions for  parks and city space needs; parks development and equipment; and major maintenance of existing general governmental  assets. Transportation capital improvements are accounted for in a separate fund.         Grants/intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of  grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is  budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to  reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried  forward each year until the grant funds are fully received or the grant agreement expires. The increase from prior year is  largely due to receiving grant funds for work performed on the Coulon Trestle Bridge Project.     Investment Earnings – Investment earnings have varied over the past couple of years as the market has seen uncertainty  with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate, and we may  continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government Investment Pool  (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or increases; the city  holds roughly 55% of the total cash and investments for the city in the LGIP.     Contracted Services – Contracted services are largely project driven and are dependent on the project timeline. The large  amount budgeted and unspent in 2023 is primarily related to the Pavilion remodel project ($2.5M).    Capital Outlay – Capital outlay fluctuates greatly with capital project schedules and contractor’s billings. A significant  number of projects began in late 2022, and it is anticipated significant capital outlay will be spent in early 2023. The largest  YTD expenditures include Kiwanis Park ($930K), Park Avenue N Acquisition ($430K), and Parks major maintenance projects  and playground replacements ($406K).      2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental ‐$                            3,360,871$            198,042$              198,042$              (3,162,829)$         5.89% Contributions ‐                               ‐                               1,000                     1,000                     1,000                     N/A Investment Earnings 12,633                    ‐                               147,034                134,401                147,034                N/A TOTAL  REVENUES 12,633                   3,360,871              346,076                333,443                (3,014,795)            10.30% EXPENDITURES: Personnel 102,611                 ‐                               19,492                   (83,119)                 (19,492)                 N/A Contracted Services 28,359                   3,390,580              68,578                   40,219                   3,322,002             2.02% Capital  Outlay 786,776                32,750,893            3,184,273             2,397,497             29,566,620           9.72% TOTAL  EXPENDITURES 917,746                36,141,473            3,272,343             2,354,597             32,869,130           9.05% Transfers  In ‐                              8,257,000               ‐                               ‐                              (8,257,000)            0.00% Transfers  Out ‐                              (50,000)                   ‐                               ‐                              (50,000)                 N/A NET TRANSFERS ‐                              8,207,000               ‐                               ‐                              (8,207,000)            0.00% CHANGE IN  FUND BALANCE (905,113)               (24,573,602)          (2,926,267)            (2,021,154)            21,647,335           11.91% BEGINNING FUND BALANCE, Jan 1 16,824,783           24,671,384            24,671,384           7,846,601              ‐                              100.00% ENDING FUND BALANCE, Mar  31 15,919,670$        97,782$                 21,745,117$        5,825,447$           21,647,335$        22238.36% MUNICIPAL  FACILITIES CIP VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 17 of 33     Capital Improvement Fund  This fund accounts for the city’s transportation capital projects. Capital projects are budgeted in their entirety at the  inception of the project; funds are spent as the project progresses and may span over multiple years.        Grants/Intergovernmental– Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of  grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is  budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to  reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried  forward each year until the grant funds are fully received or the grant agreement expires. The increase from prior year  largely relates to the timing of revenue recognition of grant revenue from the Wells & Williams project received in 2023.     Contributions – The amount over prior year is due to the contribution from a WSDOT contractor for the Gateway  Enhancement Project received in 2023.    Capital Outlay – Decrease in capital outlay expenditures from prior year is due to large ongoing projects reaching significant  completion dates. Largest decreases include Rainier Phase 4 which incurred significant easement and right‐of‐way  expenditures at the beginning of 2022, Duvall Ave project which is nearing completion, and Lake Washington Loop Trail  which was significantly completed in 2022.        2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental 2,862,103$           34,296,238$        3,354,655$           492,552$              (30,941,583)$       9.78% Fines  and penalties (10)                          ‐                               ‐                              10                            ‐                              N/A Contributions ‐                              200,000                200,000                200,000                 ‐                              100.00% Investment Earnings 8,595                      ‐                              85,039                   76,444                   85,039                   N/A TOTAL  REVENUES 2,870,688             34,496,238           3,639,694             769,006                (30,856,544)         10.55% EXPENDITURES: Personnel 10,352                   14,491                   5,865                     (4,487)                    8,626                     40.47% Supplies ‐                              30,000                    ‐                               ‐                              30,000                   0.00% Contracted Services 7,057                     534,355                19,203                   12,146                   515,152                3.59% Capital  Outlay 4,528,166             53,681,127           737,555                (3,790,611)            52,943,572           1.37% Internal Services 14,000                    ‐                              13,250                   (750)                       13,250                   N/A TOTAL  EXPENDITURES 4,559,575             54,259,973           775,873                (3,783,702)            53,510,600           1.43% Transfers  In ‐                              7,997,897              ‐                               ‐                              (7,997,897)            0.00% Transfers  Out ‐                               ‐                               ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                              7,997,897              ‐                               ‐                              (7,997,897)            0.00% CHANGE IN  FUND BALANCE (1,688,887)            (11,765,838)         2,863,821             4,552,708             14,629,659           N/A BEGINNING FUND BALANCE, Jan 1 10,868,853           12,561,975           12,561,975           1,693,122              ‐                              100.00% ENDING FUND BALANCE, Mar  31 9,179,966$           796,137$              15,425,796$        6,245,830$           14,629,659$        1937.58% CAPITAL IMPROVEMENT VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 18 of 33   Family First Center Fund  This fund is used to account for the construction of the new Family First Center. Funds accumulated for the construction of  the Family First Center are maintained in the fund balance until such time that Council authorizes their use through the  approval of contracts and additional project budget is established through the budget adjustment process.        Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of  grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is  budgeted at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to  reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried  forward each year until the grant funds are fully received or the grant agreement expires. The majority of the expected  grant revenue was received in 2022.    Contributions – The remaining contributions budgeted amount is anticipated to be received in the next quarter as the  project closes out and final contribution payments are made.     Capital Outlay – Increase from prior year is due to the project timeline, the project is nearing completion and is expected to  open in June to the public.         2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental 1,454,850$           20,000$                20,000$                (1,434,850)$          ‐$                            100.00% Contributions ‐                              3,317,000              ‐                               ‐                              (3,317,000)            0.00% Investment Earnings 6,432                      ‐                              15,489                   9,057                     15,489                   N/A TOTAL  REVENUES 1,461,282             3,337,000             35,489                   (1,425,793)            (3,301,511)            1.06% EXPENDITURES: Contracted Services 20,316                    ‐                               ‐                              (20,316)                  ‐                              N/A Capital  Outlay 1,196,019             2,733,827             1,545,399             349,380                1,188,428             56.53% TOTAL  EXPENDITURES 1,216,335             2,733,827             1,545,399             329,064                1,188,428             56.53% Transfers  In ‐                               ‐                               ‐                               ‐                               ‐                              N/A Transfers  Out ‐                               ‐                               ‐                               ‐                               ‐                              N/A NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                              N/A CHANGE IN  FUND BALANCE 244,947                603,173                (1,509,910)            (1,754,857)            (2,113,083)             ‐250.33% BEGINNING FUND BALANCE, Jan 1  8,238,935             2,795,295             2,795,295             (5,443,640)             ‐                              100.00% ENDING FUND BALANCE, Mar  31 8,483,882$           3,398,468$           1,285,385$           (7,198,497)$         (2,113,083)$         37.82% FAMILY FIRST CENTER VARIANCE FAVORABLE (UNFAVORABLE) Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 19 of 33   ENTERPRISE FUNDS  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business  enterprises. YTD budgets are not prepared for Enterprise Funds.     Most Enterprise Funds maintain two separate “management funds”, an operating fund and a capital fund. The funds are  consolidated for budget/reporting purposes. Operating budgets lapse at the end of the year. Project budgets are adopted  when funding is secured, and balances are carried forward each year until they are either 1) fully spent or 2) reallocated to  another project through the budget adjustment process. Detailed explanations will be provided for material differences  between prior year and or budgeted amounts.      Airport Fund  This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and  maintenance of the Renton Municipal Airport.             Capital Outlay‐ The increase from prior year is due to work on the airport office rehabilitation project in 2023. The amount  under budget is due to several large projects delayed, including $2.7M for Airport Office Rehabilitation and $1.3M for  Taxiway Alpha Rehabilitation.             2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental 2,862$              171,711$                29,954$           27,092$           (141,757)$        17.44% Charges  for services 957,259           4,355,432               867,533           (89,726)            (3,487,899)       19.92% Interest and other misc 6,056                3,857                       53,640              47,584              49,783              1390.72% TOTAL  REVENUES 966,177           4,531,000               951,127           (15,050)            (3,579,873)       20.99% EXPENSES: Personnel 272,326           1,457,417               282,708           (10,382)            1,174,709        19.40% Supplies 32,414              47,630                    20,627              11,787              27,003              43.31% Contracted Services 168,689           476,024                  90,163              78,526              385,861           18.94% Internal Services 100,489           445,696                  111,424           (10,935)            334,272           25.00% TOTAL  OPERATING EXPENSES 573,918           2,426,767               504,922           68,996              1,921,845        20.81% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 392,259           2,104,233               446,205           53,946              (1,658,028)       21.21% TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY 2,697                7,104,413               152,506           (149,809)          6,951,907        2.15% TRANSFERS OUT ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 389,562           (5,000,180)             293,699           (95,863)            5,293,879        N/A BEGINNING FUND BALANCE, Jan 1 7,741,751        8,925,690               8,925,690        1,183,939         ‐                         100.00% ENDING FUND BALANCE, Mar  31 8,131,313$      3,925,510$            9,219,389$      1,088,076$      5,293,879$      234.86% Operating Reserve 216,784           242,677                  242,677            AVAILABLE FUND BALANCE 7,914,529$      3,682,833$            8,976,712$       VARIANCE AIRPORT Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 20 of 33   Solid Waste Fund  This fund accounts for revenues and expenses for administration and operating of solid waste, recycling, and yard waste  collection services for the city.         Charges for Services – This account will fluctuate based on when actual payments are received for services.  The increase  from prior year is largely due to an increase in rates charged to Renton customers.    Contracted Services‐ Contracted services will fluctuate with the charges for services as this line item includes payment to  the City’s garbage service provider as well as King County dump fees.  Current year expenses have increased from prior year  due to increase of prices from the garbage service provider consistent with increases in CPI.                              2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental ‐$                       360,168$                 ‐$                        ‐$                       (360,168)$        0.00% Charges  for  services 5,409,524        25,168,583            6,102,084        692,560           (19,066,499)    24.24% Interest and other misc 3,813                5,000                       19,461              15,648              14,461              389.22% TOTAL  REVENUES 5,413,337        25,533,751            6,121,545        708,208           (19,412,206)    23.97% EXPENSES: Personnel 137,432           707,752                  116,423           21,009              591,329           16.45% Supplies 4,621                45,301                    4,431                190                   40,870              9.78% Contracted Services 4,375,818        24,615,900            4,898,870        (523,052)          19,717,030      19.90% Internal Services 77,139              527,016                  131,754           (54,615)            395,262           25.00% TOTAL  OPERATING EXPENSES 4,595,010        25,895,969            5,151,478        (556,468)          20,744,491      19.89% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 818,327           (362,218)                 970,067           151,740           1,332,285        N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                 ‐                          ‐                          ‐                         N/A TRANSFERS OUT ‐                         (80,000)                    ‐                          ‐                         (80,000)            N/A NET TRANSFERS ‐                         (80,000)                    ‐                          ‐                         80,000              N/A CHANGE IN  FUND BALANCE 818,327           (442,218)                 970,067           151,740           1,412,285        N/A BEGINNING FUND BALANCE, Jan 1  3,392,243        3,951,191               3,951,191        558,948            ‐                         100.00% ENDING FUND BALANCE, Mar  31 4,210,570$      3,508,973$            4,921,258$      710,688$         1,412,285$      140.25% Operating Reserve 400,000           400,000                  400,000            AVAILABLE FUND BALANCE 3,810,570$      3,108,973$            4,521,258$       SOLID WASTE VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 21 of 33   Golf Course Fund  This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and  maintenance of the Maplewood Golf Course.        Interest and Other Misc. – The decrease from prior year is due to recognizing an interfund loan payment of $225K in 2022  for the purchase of the new golf cart fleet.                                 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for services 423,369$         2,546,155$            437,912$         14,543$           (2,108,243)$    17.20% Rents, leases, and misc  fees 54,409              527,600                  89,155              34,746              (438,445)          16.90% Interest and other misc 226,575           1,370                       11,637              (214,938)          10,267              849.42% TOTAL  REVENUES 704,353           3,075,125               538,704           (165,649)          (2,536,421)       17.52% EXPENSES: Personnel 380,274           1,787,276               402,527           (22,253)            1,384,749        22.52% Supplies 43,226              312,500                  87,006              (43,780)            225,494           27.84% Contracted Services 28,806              206,350                  41,091              (12,285)            165,259           19.91% Internal Services 90,138              468,333                  117,083           (26,945)            351,250           25.00% TOTAL  OPERATING EXPENSES 542,444           2,774,459               647,707           (105,263)          2,126,752        23.35% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 161,909           300,666                  (109,003)          (270,912)          (409,669)           ‐36.25% DEBT SERVICE: Principal 3,664                44,535                    11,092              (7,428)               33,443              24.91% Interest 188                   1,682                       462                   (274)                  1,220                27.47% TOTAL  DEBT SERVICE 3,852                46,217                    11,554              (7,702)               34,663              25.00% CAPITAL  OUTLAY 16,167              328,898                   ‐                         16,167              328,898           0.00% TRANSFERS  IN ‐                         155,000                  38,750              38,750              (116,250)          25.00% TRANSFERS  OUT ‐                         (155,000)                 (38,750)            38,750              (116,250)          N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 141,890           (74,449)                   (120,557)          (262,447)          (46,108)            N/A BEGINNING FUND BALANCE, Jan 1 1,222,897        1,609,927               1,609,927        387,030            ‐                         100.00% ENDING FUND BALANCE, Mar  31 1,364,787$      1,535,478$            1,489,370$      124,583$         (46,108)$          97.00% Operating Reserve 641,500           718,815                  718,815            AVAILABLE FUND BALANCE 723,287$         816,663$                770,555$          GOLF COURSE VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 22 of 33   Water Utility Fund  This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and  maintenance of the city’s water utility.        Interest and Other Misc. – Increase over prior year is primarily due to investment earnings. Investment earnings have  varied over the past couple of years as the market has seen uncertainty with the pandemic and now concerns of recession.  This revenue is highly influenced by the federal funds rate, and we may continue to see a rise in investment earnings as this  is adjusted. Investments within the Local Government Investment Pool (LGIP) maintain a high level of liquidity and will  closely track with the federal funds rate as it decreases or increases; the city holds roughly 55% of the total cash and  investments for the city in the LGIP.    Personnel – The increase from prior year is largely due to filling positions that were open in prior year as well as an increase  for cost‐of‐living adjustments.                   202220232023 YTD YTD ACTUAL ANNUAL  BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges for services 3,896,634$      19,133,877$          3,941,434$      44,800$           (15,192,443)$  20.60% Rents, leases, and misc  fees 50,823              136,591                  106,141           55,318              (30,450)            77.71% Interest and other misc 111,028           47,000                    301,587           190,559           254,587           641.67% TOTAL  REVENUES 4,058,485        20,789,505            4,349,162        290,677           (16,440,343)    20.92% EXPENSES: Personnel 1,039,378        5,188,033               1,179,087        (139,709)          4,008,946        22.73% Supplies 245,004           886,189                  225,127           19,877              661,062           25.40% Contracted Services 733,843           3,710,915               675,640           58,203              3,035,275        18.21% Internal Services 662,896           2,935,307               733,827           (70,931)            2,201,480        25.00% TOTAL  OPERATING EXPENSES 2,681,121        12,720,444            2,813,681        (132,560)          9,906,763        22.12% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,377,364        8,069,061               1,535,481        158,117           (6,533,580)       19.03% DEBT SERVICE: Principal ‐                         1,504,997                ‐                          ‐                         1,504,997        0.00% Interest ‐                         164,913                   ‐                          ‐                         164,913           0.00% TOTAL  DEBT SERVICE ‐                         1,669,910                ‐                          ‐                         1,669,910        0.00% CAPITAL OUTLAY 1,022,419        37,847,774            999,613           22,806              36,848,161      2.64% TRANSFERS OUT ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 354,945           (31,448,623)           535,868           180,923           31,984,491      N/A BEGINNING FUND BALANCE, Jan 1 43,849,867      48,208,077            48,208,077      4,358,210         ‐                         100.00% ENDING FUND BALANCE, Mar  31 44,204,812$   16,759,454$          48,743,945$   4,539,133$      31,984,491$   290.84% Restricted for  Debt Service 1,394,050        1,394,050               1,394,050         Operating Reserve 1,624,606        1,723,304               1,723,304         AVAILABLE FUND BALANCE 41,186,156$   13,642,100$          45,626,591$    WATER UTILITY VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 23 of 33   Wastewater Utility Fund  This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and  maintenance of the city’s wastewater utility.        Capital Outlay – The decrease from prior year is primarily due to the majority of project expenses for Downtown Sewer  Replacement and Rehabilitation project that occurred in 2022 and the Renton Highlands Sanitary Sewer Rehabilitation  project that was completed in 2022.                           2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses  and permits 33,579$           62,734$                  10,500$           (23,079)$          (52,234)$          16.74% Charges  for  services 2,908,832        11,928,231            2,979,285        70,453              (8,948,946)       24.98% Fines  and penalties 56                       ‐                                 ‐                         (56)                     ‐                         N/A Interest and other misc 173,358           74,000                    196,779           23,421              122,779           265.92% TOTAL  REVENUES 3,115,825        12,064,965            3,186,564        70,739              (8,878,401)       26.41% EXPENSES: Personnel 605,068           3,071,964               592,420           12,648              2,479,544        19.28% Supplies 14,767              74,441                    47,991              (33,224)            26,450              64.47% Contracted Services 526,468           2,512,265               565,345           (38,877)            1,946,920        22.50% Internal Services 497,934           1,999,188               499,797           (1,863)               1,499,391        25.00% TOTAL  OPERATING EXPENSES 1,644,237        7,657,858               1,705,553        (61,316)            5,952,305        22.27% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,471,588        4,407,107               1,481,011        9,423                (2,926,096)       33.61% DEBT SERVICE: Principal ‐                         588,350                   ‐                          ‐                         588,350           0.00% Interest ‐                         73,449                     ‐                          ‐                         73,449              0.00% TOTAL  DEBT SERVICE ‐                         661,799                   ‐                         ‐                         661,799           0.00% CAPITAL OUTLAY 1,034,819        17,103,445            202,640           832,179           16,900,805      1.18% TRANSFERS IN ‐                          ‐                                 ‐                          ‐                          ‐                         N/A TRANSFERS OUT ‐                         (22,000)                    ‐                          ‐                         (22,000)            N/A NET TRANSFERS ‐                         (22,000)                    ‐                          ‐                         22,000              N/A CHANGE IN  FUND BALANCE 436,769           (13,380,137)           1,278,371        841,602           14,658,508      N/A BEGINNING FUND BALANCE, Jan 1 20,788,687      22,850,871            22,850,871      2,062,184         ‐                         100.00% ENDING FUND BALANCE, Mar  31 21,225,456$   9,470,734$            24,129,242$   2,903,786$      14,658,508$   254.78% Restricted for Debt Service 661,227           661,227                  661,227            Operating Reserve 913,756           975,361                  975,361            AVAILABLE FUND BALANCE 19,650,473$   7,834,146$            22,492,654$    WASTEWATER UTILITY VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 24 of 33     King County Metro Fund   This fund accounts for revenues and expenses for operation of the city’s wastewater utility, as it relates to charges for and  payment to King County Metro for water treatment services.        Charges for Services – Increase from prior year is largely due the increase in King County fees which is passed through to  wastewater customers.     Contracted Services – The increase from prior year relates to the increase in King County fees as well as the timing of  payments to King County. Payments were properly corrected in 2023 to reflect in the appropriate month for which they  relate to.                                        2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for  services 4,655,175$      19,358,929$          4,999,452$      344,277$         (14,359,477)$  25.83% Interest and other misc 4,037                 ‐                                36,684              32,647              36,684              N/A TOTAL  REVENUES 4,659,212        19,358,929            5,036,136        376,924           (14,322,793)    26.01% EXPENSES: Contracted Services 3,042,249        20,173,811            5,043,453        (2,001,204)       15,130,358      25.00% TOTAL  OPERATING EXPENSES 3,042,249        20,173,811            5,043,453        (2,001,204)       15,130,358      25.00% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,616,963        (814,882)                 (7,317)               (1,624,280)       807,565           N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 1,616,963        (814,882)                 (7,317)               (1,624,280)       807,565           N/A BEGINNING FUND BALANCE, Jan 1 3,764,012        6,237,142               6,237,142        2,473,130         ‐                         100.00% ENDING FUND BALANCE, Mar  31 5,380,975$      5,422,260$            6,229,825$      848,850$         807,565$         114.89% Operating Reserve 380,000           380,000                  380,000            AVAILABLE FUND BALANCE 5,000,975$      5,042,260$            5,849,825$       KING COUNTY METRO VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 25 of 33   Surface Water Utility Fund   This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and  maintenance of the city’s surface water utility.        Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of  grant awards procured, timing of grant expenses, and reimbursement of related expenses. Grant revenue is budgeted at  100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to  reimbursement of grant expenses occurring in a future year. Any grant revenue not received in award year is carried  forward each year until the grant funds are fully received or the grant agreement expires.    Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen  uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,  and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government  Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or  increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.    2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses  and permits 5,967$              51,217$                  9,375$              3,408$              (41,842)$          18.30% Grants  / intergovernmental 890,479           12,994,864            1,004,890        114,411           (11,989,974)    7.73% Charges  for  services 3,161,421        13,122,100            3,207,486        46,065              (9,914,614)       24.44% Interest and other misc 209,370           450,519                  623,855           414,485           173,336           138.47% TOTAL  REVENUES 4,267,237        26,618,700            4,845,606        578,369           (21,773,094)    18.20% EXPENSES: Personnel 907,775           4,575,050               957,675           (49,900)            3,617,375        20.93% Supplies 21,858              174,650                  32,208              (10,350)            142,442           18.44% Contracted Services 363,133           4,625,819               295,314           67,819              4,330,505        6.38% Internal Services 629,489           2,989,720               747,430           (117,941)          2,242,290        25.00% TOTAL  OPERATING EXPENSES 1,922,255        12,365,239            2,032,627        (110,372)          10,332,612      16.44% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 2,344,982        14,253,461            2,812,979        467,997           (11,440,482)    19.74% DEBT SERVICE: Principal ‐                         664,300                   ‐                          ‐                         664,300           0.00% Interest ‐                         90,517                     ‐                          ‐                         90,517              0.00% TOTAL  DEBT SERVICE ‐                         754,817                   ‐                          ‐                         754,817           0.00% CAPITAL  OUTLAY 906,108           27,607,294            300,171           605,937           27,307,123      1.09% Transfers  In ‐                          ‐                                 ‐                          ‐                          ‐                         N/A Transfers  Out ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 1,438,874        (14,108,650)           2,512,808        1,073,934        16,621,458      N/A BEGINNING FUND BALANCE, Jan 1 21,682,758      28,314,755            28,314,756      6,631,998        1                        100.00% Prior Period Adjustment ‐                          ‐                                 ‐                          ‐                          ‐                         N/A BEGINNING FUND BALANCE, Jan 1 ‐ restated 21,682,758      28,314,755            28,314,756      6,631,998        1                        100.00% ENDING FUND BALANCE, Mar  31 23,121,632$   14,206,105$          30,827,564$   7,705,932$      16,621,459$   217.00% Restricted for Debt Service 754,868           754,868                  754,868            Operating Reserve 1,109,340        1,245,213               1,245,213         AVAILABLE FUND BALANCE 21,257,424$   12,206,024$          28,827,483$    SURFACE WATER UTILITY VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 26 of 33   Internal Services – Increase from prior year is due to the creation of the sustainability division of which each utility fund is  paying for an allocated portion of that division’s expenditures.     Capital Outlay – Decrease from prior year primarily relates to the Downtown Storm System Improvement project which  had most of its work completed in 2022 as well as the NE 16th and Jefferson Ave NE Stormwater project which was  completed in 2022.   Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 27 of 33   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. YTD budgets are not prepared for Internal Service Funds.    Equipment Rental Fund  This fund accounts for revenues and expenses for administration, purchase, and maintenance of the city’s vehicle and  equipment fleet services. Departments pay in monthly amounts for maintenance and operations. Replacement reserves are  paid monthly over the estimated useful lives of each individual vehicle or piece of equipment. These reserves are  accumulated in fund balance so that they are available to fund the replacement of the vehicle/equipment when the time  comes.   Capital Outlay – The increase from prior year is due to an increase in vehicle purchases due to major supply chain issues in  prior year that delayed purchases and at times made it challenging to order the specific vehicles needed. The amount under  budget is due to not yet replacing all budgeted vehicles for the year. Vehicle replacement varies each year based on the  condition and usage of vehicles as well as the availability of suitable replacement vehicles to purchase.                   2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Charges  for  services 28,489$            ‐$                             21,007$           (7,482)$            21,007$           N/A Interdepartmental  services 1,577,732        6,349,694               1,633,942        56,210              (4,715,752)       25.73% Interest and other misc 30,798              12,000                    105,623           74,825              93,623              880.19% TOTAL  REVENUES 1,637,019        6,361,694               1,760,572        123,553           (4,601,122)       27.67% EXPENSES: Personnel 274,121           1,317,447               290,050           (15,929)            1,027,397        22.02% Supplies 375,630           1,531,153               391,474           (15,844)            1,139,679        25.57% Contracted Services 64,541              133,165                  77,495              (12,954)            55,670              58.19% Internal Services 7,692                131,363                  32,841              (25,149)            98,522              25.00% TOTAL  OPERATING EXPENSES 721,984           3,113,128               791,860           (69,876)            2,321,268        25.44% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 915,035           3,248,566               968,712           53,677              (2,279,854)       29.82% TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                         6,137,762               116,070           (116,070)          6,021,692        1.89% TRANSFERS IN ‐                         3,398,700                ‐                          ‐                         (3,398,700)       0.00% TRANSFERS OUT ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                         3,398,700                ‐                          ‐                         (3,398,700)       0.00% CHANGE IN  FUND BALANCE 915,035           509,504                  852,642           (62,393)            343,138           167.35% BEGINNING FUND BALANCE, Jan 1 10,125,169      13,277,635            13,277,635      3,152,466         ‐                         100.00% ENDING FUND BALANCE, Mar  31 11,040,204$   13,787,139$          14,130,277$   3,090,073$      343,138$         102.49% Operating Reserves 13,787,139$          13,787,139$    AVAILABLE FUND BALANCE 11,040,204$    ‐$                             343,138$          EQUIPMENT RENTAL VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 28 of 33   Insurance Fund  This fund accounts for the administration and operation of the city’s self‐insurance programs for property losses, liability,  workers’ compensation, and unemployment compensation. Expenses are paid by the Insurance Fund and rates are charged  to departments based on their claims history over the preceding five years and coverage requirements.        Interdepartmental Services – The increase over prior year is due to additional charge outs to city departments for  additional anticipated claims costs and increased insurance premiums.    Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen  uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,  and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government  Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or  increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.    Personnel – Increase from prior year is due to cost‐of‐living adjustments in 2023 and the series promotion of personnel  within the department.                    2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental  services 812,697$         4,838,982$            1,140,880$      328,183$         (3,698,102)$    23.58% Interest and other misc 136,565           22,000                    314,951           178,386           292,951           1431.60% TOTAL  REVENUES 949,262           4,860,982               1,455,831        506,569           (3,405,151)       29.95% EXPENSES: Personnel 219,469           2,184,056               340,431           (120,962)          1,843,625        15.59% Supplies ‐                         6,956                        ‐                          ‐                         6,956                0.00% Contracted Services 754,213           3,781,134               789,142           (34,929)            2,991,992        20.87% TOTAL  OPERATING EXPENSES 973,682           5,972,146               1,129,573        (155,891)          4,842,573        18.91% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (24,420)            (1,111,164)             326,258           350,678           1,437,422        N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                 ‐                          ‐                          ‐                         N/A Transfers  In ‐                         136,346                   ‐                          ‐                         (136,346)          0.00% Transfers  Out ‐                         (952,868)                  ‐                          ‐                         (952,868)          N/A NET TRANSFERS ‐                         (816,522)                  ‐                          ‐                         816,522           N/A CHANGE IN  FUND BALANCE (24,420)            (1,927,686)             326,258           350,678           2,253,944        N/A BEGINNING FUND BALANCE, Jan 1 20,494,538      23,221,020            23,221,020      2,726,482         ‐                         100.00% ENDING FUND BALANCE, Mar  31 20,470,118$   21,293,334$          23,547,278$   3,077,160$      2,253,944$      110.59% Operating Reserves 13,952,413      16,741,439            16,741,439       AVAILABLE FUND BALANCE 6,517,705$      4,551,895$            6,805,839$       INSURANCE VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 29 of 33   Information Technology Fund  This fund accounts for the administration, purchase, and operation of the city’s information technology systems, including  computer hardware and software, network servers and infrastructure, phone systems, and cell phones. Expenses are paid  by the Information Technology Fund and rates are charged to departments based on use.       Interdepartmental Services – The increase over prior year is primarily related to an increase in charges to departments for  the replacement reserve of the city’s ERP system which was budgeted in 2023.     Supplies ‐ The amount under prior year is due to a significant cost in 2022 related to Axon body cameras of $660K.    Capital Outlay –The increase in capital outlay over prior year is due to the Disaster Recovery project which is currently  $657K through March.                               2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Licenses  and permits 55,591$           150,000$                54,897$           (694)$                (95,103)$          36.60% Interdepartmental  services 1,644,595        7,355,590               1,838,899        194,304           (5,516,691)       25.00% Interest and other misc 2,872                7,000                       48,388              45,516              41,388              691.26% TOTAL  REVENUES 1,703,058        7,512,590               1,942,184        239,126           (5,570,406)       25.85% EXPENSES: Personnel 771,557           3,873,557               848,986           (77,429)            3,024,571        21.92% Supplies 801,183           1,074,664               77,864              723,319           996,800           7.25% Contracted Services 831,362           3,173,676               791,357           40,005              2,382,319        24.94% TOTAL  OPERATING EXPENSES 2,404,102        8,128,434               1,719,841        684,261           6,408,593        21.16% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (701,044)          (615,844)                 222,343           923,387           838,187           N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL  OUTLAY 13,336              5,568,965               824,452           (811,116)          4,744,513        14.80% TRANSFERS  IN 1,410                1,291,676               15,539              14,129              (1,276,137)       1.20% NET TRANSFERS 1,410                1,291,676               15,539              14,129              (1,276,137)       1.20% CHANGE IN  FUND BALANCE (712,970)          (4,893,133)             (586,570)          126,400           4,306,563        N/A BEGINNING FUND BALANCE, Jan 1 3,653,455        9,021,343               9,021,343        5,367,888         ‐                         100.00% ENDING FUND BALANCE, Mar  31 2,940,485$      4,128,210$            8,434,773$      5,494,288$      4,306,563$      204.32% Operating Reserves 2,326,091$            2,326,091$       AVAILABLE FUND BALANCE 2,940,485$      1,802,119$            6,695,252$       INFORMATION  TECHNOLOGY VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 30 of 33   Facilities Fund  This fund accounts for the administration, maintenance, and operation of city‐owned facilities. Expenses are paid by the  Facilities Fund and rates are charged to departments based on square footage.       Interdepartmental Services – The increase over prior year is due to increased expenses in facilities charged through an  internal service fund charge to each department.     Supplies ‐ The increase over prior year and budget largely relates to the increased need to support staff back at City Hall  and other remote locations. As city locations are utilized more frequently, the costs for electricity and other consumption‐ based services like facilities supplies are expected to increase.  There was also an increased need in repairs and  maintenance on city facilities that had been underutilized in the prior two years.        2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental  services 1,529,279$      6,883,097$            1,729,509$      200,230$         (5,153,588)$    25.13% Interest and other misc 520                   4,000                       3,231                2,711                (769)                  80.78% TOTAL  REVENUES 1,529,799        6,887,097               1,732,740        202,941           (5,154,357)       25.16% EXPENSES: Personnel 861,733           4,257,370               870,466           (8,733)               3,386,904        20.45% Supplies 166,477           700,596                  291,331           (124,854)          409,265           41.58% Contracted Services 251,293           1,869,620               333,645           (82,352)            1,535,975        17.85% Internal Services 32,696              273,086                  68,272              (35,576)            204,814           25.00% TOTAL  OPERATING EXPENSES 1,312,199        7,100,672               1,563,714        (251,515)          5,536,958        22.02% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 217,600           (213,575)                 169,026           (48,574)            382,601           N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                17,160              (17,160)            (17,160)            N/A Transfers  In ‐                         175,040                   ‐                          ‐                         (175,040)          0.00% NET TRANSFERS ‐                         175,040                   ‐                          ‐                         (175,040)          0.00% CHANGE IN  FUND BALANCE 217,600           (38,535)                   151,866           (65,734)            190,401           N/A BEGINNING FUND BALANCE, Jan 1 785,189           937,922                  937,922           152,733            ‐                         100.00% ENDING FUND BALANCE, Mar  31 1,002,789$      899,387$                1,089,788$      86,999$           190,401$         121.17% FACILITIES VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 31 of 33   Communications Fund  This fund accounts for community and intergovernmental relations and communications with the public. Communications  is a major activity of the city’s administration responsible for external communications, employee communications, media  relations, and coordination of all departments in producing the city’s website. Expenses are paid by the Communications  Fund and rates are charged to departments based on usage.        Interdepartmental services – The increase over prior year primarily relates to an increase in budgeted charges to each  department due to increased budgets for expenditure items including personnel, which received a cost‐of‐living adjustment  in 2023.      2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Interdepartmental  services 296,651$         1,592,402$            398,100$         101,449$         (1,194,302)$    25.00% Interest and other misc 53                      1,000                       1,911                1,858                911                   191.10% TOTAL  REVENUES 296,704           1,593,402               400,011           103,307           (1,193,391)       25.10% EXPENSES: Personnel 194,938           1,184,992               230,261           (35,323)            954,731           19.43% Supplies 9,688                55,432                    13,760              (4,072)               41,672              24.82% Contracted Services 71,138              401,155                  69,477              1,661                331,678           17.32% Internal Services 509                   4,696                       1,174                (665)                  3,522                25.00% TOTAL  OPERATING EXPENSES 276,273           1,646,275               314,672           (38,399)            1,331,603        19.11% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 20,431              (52,873)                   85,339              64,908              138,212           N/A TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                 ‐                          ‐                          ‐                         N/A Transfers  Out ‐                         18,775                     ‐                          ‐                         18,775              0.00% NET TRANSFERS ‐                         (18,775)                    ‐                          ‐                         18,775              N/A CHANGE IN  FUND BALANCE 20,431              (71,648)                   85,339              64,908              156,987           N/A BEGINNING FUND BALANCE, Jan 1 141,517           428,724                  428,724           287,207            ‐                         100.00% ENDING FUND BALANCE, Mar  31 161,948$         357,076$                514,063$         352,115$         156,987$         143.96% COMMUNICATIONS VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 32 of 33   Health Insurance Fund  This fund accounts for the city’s self‐insured health insurance program. Expenses/claims are paid by the Health Insurance  Fund and rates are charged to employees and departments based on annual premiums determined by the city’s Employee  Health Plan Board for each type of coverage elected by the employee; paid semi‐monthly in conjunction with each payroll.                                  2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Premiums 3,195,131$      15,603,216$            3,291,117$      95,986$           (12,312,099)$  21.09% Interest and other misc 99,350              520,000                    188,545           89,195              (331,455)          36.26% TOTAL  REVENUES 3,294,481        16,123,216               3,479,662        185,181           (12,643,554)    21.58% EXPENSES: Personnel 81,493              339,251                    81,555              (62)                    257,696           24.04% Medical/Dental  Claims 2,621,112        14,166,872               2,622,178        (1,066)               11,544,694      18.51% Supplies ‐                         7,500                         1,375                (1,375)               6,125                18.33% Contracted Services 135,971           579,786                    139,931           (3,960)               439,855           24.13% Internal Services 20,933              103,752                    29,084              (8,151)               74,668              28.03% TOTAL  OPERATING EXPENSES 2,859,509        15,197,161               2,874,123        (14,614)            12,323,038      18.91% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 434,972           926,055                    605,539           170,567           (320,516)          65.39% TOTAL  DEBT SERVICE ‐                          ‐                                   ‐                         ‐                          ‐                         N/A CAPITAL OUTLAY ‐                          ‐                                   ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                   ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 434,972           926,055                    605,539           170,567           (320,516)          65.39% BEGINNING FUND BALANCE, Jan 1 6,655,137        6,935,644                 6,935,644        280,507            ‐                         100.00% ENDING FUND BALANCE, Mar  31 7,090,109$      7,861,699$               7,541,183$      451,074$         (320,516)$        95.92% Insurance Reserves 3,774,249        4,559,148                 4,559,148         AVAILABLE FUND BALANCE 3,315,860$      3,302,551$               2,982,035$       HEALTH INSURANCE VARIANCE Quarterly Financial Report                                                               City of Renton, Washington 1st Quarter 2023  Page 33 of 33   Retiree Healthcare Fund  This fund accounts for the city’s self‐insured health insurance program for LEOFF1 retirees. Benefits include medical,  prescription drug, Medicare Part B premiums, long‐term care, and vision coverage for retired law enforcement officers and  firefighters that were employed by the city prior to October 1, 1977. Dependent spouses and children are not covered.  100% of premiums are provided by the General Fund with annual contributions determined after review of a report  prepared by actuaries.         Premiums – The decrease from prior year is due a budgeted decrease; the fund was receiving more funding than required  in the prior year.     Interest and Other Misc. – Investment earnings have varied over the past couple of years as the market has seen  uncertainty with the pandemic and now concerns of recession. This revenue is highly influenced by the federal funds rate,  and we may continue to see a rise in investment earnings as this is adjusted. Investments within the Local Government  Investment Pool (LGIP) maintain a high level of liquidity and will closely track with the federal funds rate as it decreases or  increases; the city holds roughly 55% of the total cash and investments for the city in the LGIP.          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 at  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov . 2022 2023 2023 YTD YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET REVENUES: Grants  / intergovernmental ‐$                       40,000$                   ‐$                        ‐$                       (40,000)$          0.00% Premiums 656,171           1,825,000               456,250           (199,921)          (1,368,750)       25.00% Interest and other misc 43,451              170,000                  150,452           107,001           (19,548)            88.50% TOTAL  REVENUES 699,622           2,035,000               606,702           (92,920)            (1,428,298)       29.81% EXPENSES: Personnel 26,249              101,664                  24,259              1,990                77,405              23.86% Medical/Dental  Claims 271,322           1,201,877               279,182           (7,860)               922,695           23.23% Contracted Services 13,660              66,293                    14,186              (526)                  52,107              21.40% TOTAL  OPERATING EXPENSES 311,231           1,369,834               317,627           (6,396)               1,052,207        23.19% AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 388,391           665,166                  289,075           (99,316)            (376,091)          43.46% TOTAL  DEBT SERVICE ‐                          ‐                                 ‐                         ‐                          ‐                         N/A CAPITAL  OUTLAY ‐                          ‐                                 ‐                          ‐                          ‐                         N/A NET TRANSFERS ‐                          ‐                                 ‐                          ‐                          ‐                         N/A CHANGE IN  FUND BALANCE 388,391           665,166                  289,075           (99,316)            (376,091)          43.46% BEGINNING FUND BALANCE, Jan 1 18,188,260      19,928,792            19,928,792      1,740,532         ‐                         100.00% ENDING FUND BALANCE, Mar  31 18,576,651$   20,593,958$          20,217,867$   1,641,216$      (376,091)$        98.17% Insurance Reserves 18,576,651      20,593,958            20,217,867       AVAILABLE FUND BALANCE ‐$                        ‐$                              ‐$                        RETIREE HEALTHCARE VARIANCE