HomeMy WebLinkAboutQUARTER 4 2022Page 1 of 36
OVERVIEW
This quarterly financial report reflects the city’s revenue and expenditures/expenses for the fiscal year through December 31,
2022. 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 6083, which includes the year end budget adjustment
approved October 17, 2022.
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 93,151,257$ 94,129,262$ 102,213,407$ 9,062,150$ 8,084,145$ 108.59%
Licenses & Permits 5,255,808 6,322,163 7,455,983 2,200,175$ 1,133,820 117.93%
Intergovernmental 8,843,799 22,216,538 17,604,837 8,761,038$ (4,611,701) 79.24%
Charges for Services 8,988,252 9,912,049 10,101,988 1,113,736$ 189,939 101.92%
Fines and Penalties 4,622,320 3,829,782 4,142,205 (480,115)$ 312,423 108.16%
Miscellaneous 1,752,739 2,042,296 3,178,269 1,425,530$ 1,135,973 155.62%
Other Financing Sources (Transfer ‐In, etc) (614,116) (344,366) (80,253) 533,863$ 264,113 N/A
TOTAL REVENUES 122,000,059 138,107,724 144,616,436 22,616,377 6,508,712 104.71%
EXPENDITURES
City Attorney 2,440,373 3,179,689 2,802,425 (362,052) 377,264 88.14%
Community and Economic Development 9,980,902 14,000,994 11,231,574 (1,250,672) 2,769,420 80.22%
Council 592,929 715,534 656,186 (63,257) 59,348 91.71%
Court Services 2,622,084 3,646,622 3,082,719 (460,635) 563,903 84.54%
Equity, Housing, and Human Services 3,139,628 5,641,449 3,522,799 (383,171) 2,118,650 62.44%
Executive Services 4,375,714 6,101,756 5,411,696 (1,035,982) 690,060 88.69%
Finance 3,844,375 5,245,748 4,581,257 (736,882) 664,491 87.33%
Human Resources 1,398,222 1,783,308 1,480,889 (82,667) 302,419 83.04%
Parks and Recreation 12,281,772 17,633,848 15,507,241 (3,225,469) 2,126,607 87.94%
Police 41,077,138 48,300,026 46,278,533 (5,201,396) 2,021,493 95.81%
Public Works 13,182,021 16,225,445 15,760,740 (2,578,719) 464,705 97.14%
Other Non‐Departmental 12,418,823 21,759,550 19,797,063 (7,378,240) 1,962,487 90.98%
TOTAL EXPENDITURES 107,353,981 144,233,969 130,113,122 (22,759,142) 14,120,847 90.21%
Change in Fund Balance 14,646,078 (6,126,245) 14,503,314 (142,764) 20,629,559 N/A
Beginning Fund Balance 54,456,582 69,102,662 69,102,662 14,646,080 ‐ 100.00%
ENDING FUND BALANCE 69,102,660$ 62,976,417$ 83,605,976$ 14,503,316$ 20,629,559$ 132.76%
Operating Reserve 13,994,674 11,537,583 11,537,583
Economic Development Reserve 2,500,000 2,500,000 2,500,000
AVAILABLE FUND BALANCE 52,607,986$ 48,938,834$ 69,568,393$
Summary of Sources and Uses Favorable (Unfavorable)
2021 2022 Variance
YTD Actual Annual Budget YTD Actual
Quarterly Financial Report 4th Quarter 2022
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 2 of 36
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 have exceeded prior year and budget primarily due to increased
property values and a surge in property sales within the region. Additionally, a small portion of current year property tax
revenue ($264K) is attributed to prior years’ delinquent taxes.
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, wholesale, and retailing 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 December 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 other
wise been subject to city utility tax. The increase over 2022 budget is due to higher than anticipated usage as this 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 and budget is largely due to an increase of in‐person events
with the restrictions of the pandemic lifted. In addition, the city began collection of admission tax on green fees at the
Maplewood Golf Course.
Utility Tax – Utility tax revenue budget was reduced in previous years due to the utility moratorium during the pandemic.
After the utility moratorium was lifted in September 2021, revenue rebounded to pre‐pandemic figures. Electric and natural
gas utility tax exceeds budget and is higher than prior year largely due to an increase of use; more commercial office spaces
and workplaces have returned to the office. The breakdown of utility tax is as follows:
2021 2022 2022
Actual Budget Actual $ % $ %
Property Tax 22,582,760 22,709,653 23,243,679 660,919 2.9% 534,026 2.4%
Local Retail Sales Tax 32,659,993 34,076,430 37,514,922 4,854,929 14.9% 3,438,492 10.1%
State Sales Tax Credit 790,863 736,380 746,643 (44,220) ‐5.6%10,263 1.4%
Criminal Justice Sales Tax 3,440,504 3,063,215 3,830,215 389,711 11.3% 767,000 25.0%
Natural Gas Use Tax 135,207 112,055 221,849 86,642 64.1% 109,794 98.0%
Admission Tax 31,794 232,722 367,107 335,313 1054.6% 134,385 57.7%
Utility Tax 16,664,173 16,233,912 17,463,626 799,453 4.8% 1,229,714 7.6%
Leasehold Excise Tax 168,949 179,895 176,172 7,223 4.3%(3,723) ‐2.1%
Gambling Excise Tax 4,063,341 3,285,000 4,155,272 91,931 2.3% 870,272 26.5%
B&O Tax 12,613,673 13,500,000 14,493,922 1,880,249 14.9% 993,922 7.4%
YTD Total 93,151,257$ 94,129,262$ 102,213,407$ 9,062,150$ 9.7% 8,084,145$ 8.6%
Annual Total 93,151,257$ 94,129,262$
Taxes by Type
Revenue
2022 vs. 2021 2022 vs. Budget
Year to Date through December
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 3 of 36
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 due to substantial increases from the card games
tax.
Business and Occupation (B&O) Tax – B&O tax revenue relies heavily on the revenue of a limited number of large businesses.
Beginning in 2022, the city increased the maximum tax cap any one taxpayer is required to pay in a year by $2M, contributing
to the increase of B&O tax over prior year.
LICENSES & PERMITS
Franchise Fees –Cable franchise fees make up about 80‐90% of franchise fee revenue. As consumers continue to make
changes in their use of cable services, this revenue is expected to decrease along with cable utility tax revenue.
Business Licenses – The amount of business license revenue over budget is due to better‐than‐expected economic recovery.
In addition, $193K of the fees collected in December represent early payments for license fees due in January 2023.
Building Permits – Building permit revenue exceeded prior year and budget due to a general increase in the construction
industry. One large impact in 2022 was the permit for Solera project. Building permits are collected upon permit issuance.
INTERGOVERNMENTAL
State Shared Revenue – The breakdown of state shared revenue is as follows:
2021 2022 2022
Tax by Type YTD Actual YTD Budget YTD Actual $ % $ %
Electrical 5,783,014$ 5,574,163$ 6,132,308$ 349,294$ 6.0% $ 558,145 10.0%
Natural Gas 1,606,373 1,729,124 1,806,540 200,167 12.5% 77,416 4.5%
Cell 571,889 530,516 566,149 (5,740) ‐1.0% 35,633 6.7%
Phone 826,519 762,756 740,355 (86,164) ‐10.4% (22,401)‐2.9%
Cable 1,422,996 1,201,215 1,371,854 (51,142) ‐3.6% 170,639 14.2%
Garbage 744,745 736,722 739,140 (5,605) ‐0.7% 2,418 0.3%
City Utilities 5,708,637 5,699,416 6,107,280 398,643 7.0% 407,864 7.2%
YTD Total 16,664,173$ 16,233,912$ 17,463,626$ 799,453$ 4.8%1,229,714$ 7.6%
2022 vs. 2021 2022 vs. Budget
2021 2022 2022
Actual Budget Actual $ % $ %
Franchise Fees 1,598,057 1,659,950 1,485,576 (112,481) ‐7.0% (174,374) ‐10.5%
Business Licenses 1,085,936 927,968 1,130,404 44,468 4.1% 202,436 21.8%
Animal Licenses 67,890 93,174 62,050 (5,840) ‐8.6% (31,124) ‐33.4%
Building Permits 2,461,650 3,593,571 4,742,534 2,280,884 92.7% 1,148,963 32.0%
ROW/Street Excavation Permits 41,765 46,500 34,399 (7,366) ‐17.6% (12,101) ‐26.0%
Special Event Permits 510 1,000 1,020 510 100.0% 20 2.0%
YTD Total 5,255,808$ 6,322,163$ 7,455,983$ 2,200,175$ 41.9% 1,133,820$ 17.9%
Annual Total 5,255,808$ 6,322,163$
Licenses & Permits by Type
Year to Date through December
Revenue
2022 vs. 2021 2022 vs. Budget
2021 2022 2022
Actual Budget Actual $ % $ %
State Shared Revenue 4,463,819 3,949,223$ 4,101,311 (362,508)$ ‐8.1%152,088$ 3.9%
Federal Grants 4,020,044 17,171,538 13,364,303 9,344,259 232.4%(3,807,235) ‐22.2%
State Grants 84,403 875,492 81,010 (3,393) ‐4.0% (794,482) ‐90.7%
Local Grants 275,533 220,285 58,213 (217,320) ‐78.9% (162,072) ‐73.6%
YTD Total 8,843,799$ 22,216,538$ 17,604,837$ 8,761,038$ 99.1%(4,611,701)$ ‐20.8%
Annual Total 8,843,799$ 22,216,538$
Intergovernmental by Type
Revenue
2022 vs. 2021 2022 vs. Budget
Year to Date through December
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 4 of 36
Criminal Justice One Time – The decrease from prior year is due to a one‐time payment received in 2021 intended to offset
costs generated by law enforcement and criminal justice related legislation enacted between January 1, 2020, and June 30,
2021.
Liquor Excise Tax – The amount over budget is due to higher than anticipated state share of liquor excise taxes. This budget
will be monitored and adjusted as needed as revenues continue to come in higher than anticipated.
Fuel Tax – The amount under budget is due to a lower than anticipated state share in 2022 which is distributed based on a
per capita basis. Future years could see a decrease in fuel tax shared revenue due to an increasing number of electric vehicles
in the market.
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 ARPA
as the city recognized $10M more in 2022 than in prior year and has a remaining budget balance of $2.7M.
CHARGES FOR SERVICES
Public Safety Services – The decrease in public safety services from prior year is primarily due to a decrease in police private
security revenue attributed to staffing shortfalls and the need to cover minimum staffing related to city operations before
contracting officers for private security opportunities. Additionally, electronic home detention services is down due to a
reduction in sentencing eligible offenders to this program.
Development Services ‐ The increase in development services from prior year and budget is due to an increase in fees for
permits and inspections. Several one‐time fees for large projects were collected in 2022, including inspection appraisal fees
for King County’s Central Maintenance Facility (Renton Shop) and the Solera project (affordable and market‐rate housing).
2021 2022 2022
Tax by Type YTD Actual YTD Budget YTD Actual$%$%
Judicial Contribution 53,812$ 17,212$ 32,326$ (21,486)$ ‐39.9%15,114$ 87.8%
Crim Just ‐ Pop 34,718 24,725 36,822 2,104 6.1% 12,097 48.9%
Crim Just ‐ Spec Prog 123,625 113,286 130,560 6,935 5.6% 17,274 15.2%
Crim Just ‐ One Time 420,599 ‐ ‐ (420,599) N/A ‐ N/A
State DUI 17,282 9,000 12,269 (5,013) ‐29.0%3,269 36.3%
Marijuana Distribution 229,998 195,000 289,291 59,293 25.8% 94,291 48.4%
Liquor Profits 833,694 850,000 830,938 (2,756) ‐0.3% (19,062) ‐2.2%
Liquor Excise Tax 738,940 497,350 757,497 18,557 2.5% 260,147 52.3%
Fuel Tax 2,011,151 2,242,650 2,011,608 457 0.0%(231,042) ‐10.3%
YTD Total 4,463,819$ 3,949,223$ 4,101,311$ (362,508)$ ‐8.1%152,088$ 3.9%
2022 vs. 2021 2022 vs. Budget
2021 2022 2022
Actual Budget Actual $ % $ %
Passport Fees 105 35,000 10,320 10,215 9728.6%(24,680) ‐70.5%
Court Services 106,751 77,500 175,939 69,189 64.8% 98,440 127.0%
General Government Services 461 500 277 (183) ‐39.8% (223) ‐44.6%
Public Safety Services 1,175,389 1,019,903 713,498 (461,892) ‐39.3% (306,405) ‐30.0%
Development Services 2,405,883 2,220,594 3,139,883 734,000 30.5% 919,289 41.4%
Transportation Services 56,659 ‐ 31,645 (25,014) ‐44.1%31,645 100.0%
Social Services 221,596 204,331 184,759 (36,837) ‐16.6% (19,572) ‐9.6%
Recreation/Farmer's Market/Events 337,297 1,097,658 1,338,919 1,001,622 297.0% 241,261 22.0%
Interfund Services 4,684,111 5,256,565 4,506,749 (177,362) ‐3.8% (749,816) ‐14.3%
YTD Total 8,988,252$ 9,912,049$ 10,101,988$ 1,113,737$ 12.4% 189,940$ 1.9%
Annual Total 8,988,252$ 9,912,049$
Year to Date through December
Charges for Services by Type
Revenue
2022 vs. 2021 2022 vs. Budget
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 5 of 36
Recreation/Farmer’s Market/Events – The increase over prior year and budget is due to reopening several recreational
facilities in 2022 that had been closed in prior years due to COVID‐19. Recreation activities at the Community Center and
Henry Moses Aquatic Center (HMAC) experienced greater than anticipated revenue above budget due to increased
participation.
Interfund Services – Interfund services revenue decreased from prior year and current year budget due to a decrease in
reimbursement of staffing costs from CIP projects and a decrease in indirect costs charged.
FINES AND PENALTIES
Photo Enforcement Program – Photo enforcement revenue has decreased from prior year primarily due to a surge in photo
revenue that occurred in 2021 as school zone cameras were turned back on for in‐person learning; revenue has normalized
in 2022. Higher than anticipated revenue over budget occurred in 4th quarter, averaging $100K higher per month than prior
quarters largely driven school zone cameras.
MISCELLANEOUS REVENUES
Interest and Other Investment Earnings – Investment earnings have rebounded significantly in 2022 and are currently above
prior year as well as budget. 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.
Rents, Leases, and Concessions – Rents, leases, and concessions revenues increased over the prior year primarily due to rent
waivers provided in 2021 in response to COVID‐19 that were discontinued in 2022, as well as the reopening of several city
facilities including the Renton Community Center and Henry Moses Aquatic Center.
Contributions/Donations – Contributions and donations above budget are due to a one‐time latecomer assessment related
to the Sunset Lane NE Improvement project (Ordinance 5961).
Other – The increase from prior year is primarily due to payments received in relation to the opioid settlement in 2022 of
$122K, the city will be receiving payments annually.
2021 2022 2022
Actual Budget Actual $ % $ %
Civil Penalties 237,545$ 293,293$ 264,383$ 26,838$ 11.3%(28,910)$ ‐9.9%
Photo Enforcement Program 4,222,877 3,387,000 3,679,876 (543,001) ‐12.9%292,876 8.6%
Criminal Traffic Misdemeanor Fines 44,791 47,447 29,079 (15,711) ‐35.1% (18,368) ‐38.7%
Criminal Non‐Traffic Fines 5,650 14,500 3,953 (1,697) ‐30.0% (10,547) ‐72.7%
Criminal Costs 35,527 36,960 29,939 (5,588) ‐15.7% (7,021) ‐19.0%
Non‐Court Fines, Forfeitures and Penalties 75,930 50,582 134,975 59,045 77.8% 84,393 166.8%
YTD Total 4,622,320$ 3,829,782$ 4,142,205$ (480,115)$ ‐10.4%312,423$ 8.2%
Annual Total 4,622,320$ 3,829,782$
Fines and Penalties by Type
Revenue
2022 vs. 2021 2022 vs. Budget
Year to Date through December
2021 2022 2022
Actual Budget Actual $ % $ %
Interest and Other Investment Earnings 381,777$ 205,804$ 1,063,310$ 681,533$ 178.5% 857,506$ 416.7%
Rents, Leases, and Concessions 981,108 1,494,210 1,422,416 441,308 45.0%(71,794) ‐4.8%
Contributions/Donations from Private Source s 275,820 87,160 345,480 69,660 25.3% 258,320 296.4%
Other 114,034 255,122 347,063 233,029 204.4% 91,941 36.0%
YTD Total 1,752,739$ 2,042,296$ 3,178,269$ 1,425,530$ 81.3% 1,135,973$ 55.6%
Annual Total 1,752,739$ 2,042,296$
Miscellaneous by Type
Year to Date through December
Revenue
2022 vs. 2021 2022 vs. Budget
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 6 of 36
OTHER FINANCING SOURCES
Transfers from Other Funds – The amount over prior year relates to the return of funding from the capital projects fund for
the Family First Center. The funding previously transferred to support the construction project has been replaced with Real
Estate Excise Tax (REET) revenue.
Prior Period Adjustment – The difference between prior year and current year is due to the refund of interfund interest to
the waterworks utility fund resulting from an overpayment in prior years, offset by golf admissions tax due to the general
fund from prior years.
Insurance Recoveries – The increase from prior year is due to an increase in property loss claims and associated
reimbursement from the Insurance Fund. Notable claims include a signal repair/replacement at Talbot & Grady Way ($80K)
and a traffic signal control box repair of Maple Valley Hwy ($60K). Insurance recoveries are generally not budgeted as they
are not a predictable source of revenue.
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 2021 in response to COVID‐19; a cost‐of‐living increase citywide upon settlement of union contracts;
and retroactive police wage increases for 2021 per union negotiated contracts. Personnel costs under budget is due to open
positions; there are currently 62 vacancies as of December 31st.
Supplies – The increase over prior year primarily relates to an increase in street maintenance supplies of $271K, specifically
sand and de‐icer for early December snow and ice as well as asphalt supplies. With the purchase of the new advanced paving
equipment and being fully staffed, this group has been able to complete substantially larger projects on a more frequent
basis then in the past. Recreation increased from prior year $171k largely due to the replacement of furniture at the Renton
Community Center and program supplies for recreation programs as many programs were paused or decreased in 2021,
police special operations saw an increase from prior year $52k due to additional SWAT activity.
The amount over YTD budget is due to street maintenance supplies related to asphalt an snow and ice supplies $297k, and
police special operations expenditures primarily attributed to SWAT $102k, offset by savings from multiple departments not
expending their entire supplies budgets in 2022.
Contracted Services ‐ The increase in contracted services is over prior year are due to the following:
2021 2022 2022
Actual Budget Actual $ % $ %
Transfers from Other Funds 82,198$ 3,054,187$ 3,054,187$ 2,971,989 3615.6% 0 0.0%
Prior Period Adjustment (775,836) (3,437,067) (3,437,067) (2,661,231) 343.0% 0 0.0%
Interfund Loan Payment Received ‐ 38,514 38,514 38,514 100.0% 0 0.0%
Insurance Recoveries 37,804 ‐ 262,113 224,309 593.3% 262,113 100.0%
Sale of Capital Assets 41,718 ‐ 2,000 (39,718) ‐95.2%2,000 100.0%
YTD Total (614,116)$ (344,366)$ (80,253)$ 533,863$ ‐86.9%264,113$ ‐76.7%
Annual Total (614,116)$ (344,366)$
Revenue
2022 vs. 2021 2022 vs. Budget
Year to Date through December
Other Financing Sources by Type
General Fund
Summary of Uses 2021
Year to Date through December YTD Actual YTD Budget YTD Actual $%$%
Personnel 60,426,377$ 76,903,680$ 67,280,065$ (6,853,688)$ ‐11.3% 9,623,615$ 12.5%
Supplies 1,414,726 1,802,775 1,987,372 (572,646) ‐40.5%(184,597) ‐10.2%
Contracted Services 20,304,130 27,623,810 22,499,188 (2,195,058) ‐10.8% 5,124,622 18.6%
Capital Outlay 1,357,841 127,474 122,019 1,235,822 91.0% 5,455 4.3%
Debt Service ‐ 225,309 225,309 (225,309) 100.0%‐ 0.0%
Internal Services 14,610,565 20,520,495 21,140,231 (6,529,666) ‐44.7%(619,736) ‐3.0%
Transfers Out 9,240,342 17,030,426 16,858,938 (7,618,596) ‐82.4% 171,488 1.0%
Total Expenditures 107,353,981 144,233,969 130,113,122 (22,759,141) ‐21.2% 14,120,847 9.8%
Annual Total 107,353,981 144,233,969
2022 2022 vs. 2021 2022 vs. Budget
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 7 of 36
Increase in SCORE and ValleyComm costs of $365K;
Increase in community economic development expenditures of $751K for small business grants, downtown
cleaning, hanging basket program, Shop Local program, Main Street Renton strategic program, Transit Oriented
Development Implementation (TODI) grant, and Rainier/Grady Junction planned action program;
Increase in human services expenditures of $668K for human services agency funds paid to vendors to provide
human services needs and one‐time CDBG funds;
Increase in recreation expenditures of $249K due to program costs for instructor fees as recreation reopened in
2022 and recreation grant expenditures;
Increase in non‐departmental of $435K for increased expenditures related to HB1406 funds for South King Housing
and Homeless Partners (SKHHP);
Decrease in housing of $825K due to one‐time payments to RHA in 2021
The amount under budget is primarily driven by the following:
ARPA funds allocated for business grants of $600K were budgeted in support for downtown business impacted by
the pandemic of which $132K remains unspent;
Human Services of $775K remains unspent for equity and community assessment, as well as $1.4M in unspent
grant funds for CDBG and ARPA allocations;
Economic development contracted services and professional services budget of $557K that remain unspent
including Main Street Renton and unspent grant funds;
Police ValleyComm expenditures coming in less than anticipated by $313K;
Reserve budget at $1.5M
Capital Outlay – Economic development capital outlay is associated with the Downtown Streetscape project being funded
through a CDBG grant. Prior year figures include the funding of those one time planning/construction costs.
Debt Service – The general fund issued an interfund loan to the Maplewood golf course to fund the purchase of golf carts.
This interfund loan was approved in 2021 however due to supply chain issues the carts were not received until 2022.
Internal Services – The amount increased from prior year primarily due to increased insurance costs in Insurance Fund of
$1.2M; IT Fund costs of $1.7M for Eden replacement recovery; increased facility costs of $1.5M associated with return to in‐
person work and greater share of direct usage costs allocated to general fund departments; and increased communications
charges of $650K due to a significant refund in prior year from true up of costs. The amount over budget is due to increased
insurance premium costs added late in the year in 2022.
Interfund Transactions – Increase over prior year relates to: (1) $5.5M property tax transfer to fund IT for broadband Wi‐Fi
project and body cameras, and facilities for the City Hall lobby remodel project, HMAC project and Renton Community
Center project and (2) $2.9M B&O tax transfer to fund IT for Eden replacement of $1.3M and facilities for the Pavilion
remodel of $500K and ESCO Phase 3 project of $1.4M.
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 8 of 36
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.
Principal/Interest – The amount under prior year is due to paying off the 2011 general obligation library bonds in 2021.
Transfers In ‐ The decrease from prior year is due to the 2011 general obligation library bonds being paid off resulting in no
additional transfer required. The $200K difference in budget is due to not transferring the full LRF sales tax budgeted amount;
only actual amount received in 2022 of $500K can be transferred.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 114,740$ 44,610$ 44,705$ (70,035)$ 95$ 100.21%
Investment Earnings 28,416 ‐ 51,743 23,327 51,743 N/A
TOTAL REVENUES 143,156 44,610 96,448 (46,708) 51,838 216.20%
EXPENDITURES:
Principal 5,625,158 3,069,547 3,069,547 2,555,611 ‐ 100.00%
Interest 1,500,315 1,272,373 1,271,720 228,595 653 99.95%
TOTAL EXPENDITURES 7,125,473 4,341,920 4,341,267 2,784,206 653 99.98%
Transfers In 7,189,814 4,489,359 4,289,359 (2,900,455) (200,000) 95.55%
NET TRANSFERS 7,189,814 4,489,359 4,289,359 (2,900,455) (200,000) 95.55%
CHANGE IN FUND BALANCE 207,496 192,049 44,540 (162,956) (147,509) 23.19%
BEGINNING FUND BALANCE, Jan 1 5,010,629 5,218,125 5,218,125 207,496 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 5,218,125$ 5,410,174$ 5,262,665$ 44,540$ (147,509)$ 97.27%
Debt Service Reserve 2,717,575 2,717,575 2,717,575
AVAILABLE FUND BALANCE 2,500,550$ 2,692,599$ 2,545,090$
VARIANCE
FAVORABLE (UNFAVORABLE)
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 9 of 36
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.
Taxes – Tax revenue is up from prior year and budget as many hotels were only open in limited capacity during 2021 and
have since rebounded to pre‐pandemic levels.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 283,113$ 200,000$ 519,434$ 236,321$ 319,434$ 259.72%
Contributions 25,000 25,000 25,000 ‐ ‐ 100.00%
Investment Earnings 4,306 ‐ 9,297 4,991 9,297 N/A
TOTAL REVENUES 312,419 225,000 553,731 241,312 328,731 246.10%
EXPENDITURES:
Contracted Services 437,601 578,207 529,768 (92,167) 48,439 91.62%
TOTAL EXPENDITURES 437,601 578,207 529,768 (92,167) 48,439 91.62%
Transfers Out (40,000) (40,000) (40,000) ‐ ‐ N/A
NET TRANSFERS (40,000) (40,000) (40,000) ‐ ‐ N/A
CHANGE IN FUND BALANCE (165,182) (393,207) (16,037) 149,145 377,170 4.08%
BEGINNING FUND BALANCE, Jan 1 893,604 728,421 728,421 (165,183) ‐ 81.51%
ENDING FUND BALANCE, Dec 31 728,422$ 335,214$ 712,384$ (16,038)$ 377,170$ 97.80%
VARIANCE
FAVORABLE (UNFAVORABLE)
HOTEL/MOTEL
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 10 of 36
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.
Supplies/Contracted Services – Increase in supplies and contracted services from prior year is due to the replacement of
audio video equipment in council chambers in 2022.
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 tax was not authorized at the time the 2021‐2022 budget was prepared. Anticipated
revenues are expected to be included in the mid‐biennial budget adjustment. The additional sales and use tax is restricted
for housing and related services, in accordance with RCW 82.14.530.
Taxes – Tax revenues increased from prior year due to an increase in overall sales tax performance, see page 2 of this report
for additional information.
Contracted Services – Increase in contracted services is due to a housing services grant of $1.5M paid to Renton Housing
Authority to support Sunset Gardens, a new construction project that will help increase the available supply of affordable
housing in Renton.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 72,260$ 57,674$ 62,730$ (9,530)$ 5,056$ 108.77%
Investment Earnings 3,331 ‐ 6,014 2,683 6,014 N/A
TOTAL REVENUES 75,591 57,674 68,744 (6,847) 11,070 119.19%
EXPENDITURES:
Supplies 6,184 240,136 159,574 153,390 80,562 66.45%
Contracted Services 55,476 195,940 187,269 131,793 8,671 95.57%
Capital Outlay 394 24,133 ‐ (394) 24,133 0.00%
TOTAL EXPENDITURES 62,054 460,209 346,843 284,789 113,366 75.37%
Transfers In 40,000 ‐ ‐ (40,000) ‐ N/A
NET TRANSFERS 40,000 ‐ ‐ (40,000) ‐ N/A
CHANGE IN FUND BALANCE 53,537 (402,535) (278,099) (331,636) 124,436 N/A
BEGINNING FUND BALANCE, Jan 1 677,710 731,245 731,245 53,535 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 731,247$ 328,710$ 453,146$ (278,101)$ 124,436$ 137.86%
CABLE COMMUNICATIONS
VARIANCE
FAVORABLE (UNFAVORABLE)
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 3,166,434$ 3,490,000$ 4,387,867$ 1,221,433$ 897,867$ 125.73%
Investment Earnings 5,295 ‐ 50,794 45,499 50,794 N/A
TOTAL REVENUES 3,171,729 3,490,000 4,438,661 1,266,932 948,661 127.18%
EXPENDITURES:
Contracted Services ‐ 1,710,000 1,500,000 1,500,000 210,000 87.72%
TOTAL EXPENDITURES ‐ 1,710,000 1,500,000 1,500,000 210,000 87.72%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 3,171,729 1,780,000 2,938,661 (233,068) 1,158,661 165.09%
BEGINNING FUND BALANCE, Jan 1 ‐ 3,171,729 3,171,729 3,171,729 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 3,171,729$ 4,951,729$ 6,110,390$ 2,938,661$ 1,158,661$ 123.40%
HOUSING & SUPPORTIVE SERVICES
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 11 of 36
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.
Sale of Credits – Increase in the sale of credits is due to a sale of springbrook wetland mitigation credits to Renton School
District in the amount of $230K.
Police Seizure Fund
The Police Seizure Fund was established in the 2nd quarter of 2020 for the purpose of providing transparency in the accounting
for assets seized by Police in accordance with RCW 9A.83.030 and 69.50.505, previously accounted for within the General
Fund. These seizure funds are restricted to use exclusively for the expansion and improvement of controlled substances
related law enforcement activity. The total fund balance remaining at the end of the year is budgeted in full the following
year.
Contributions – The city does not budget contribution revenue for seizures as amounts are uncertain until cases are
resolved. The increase in contributions from prior year is directly related to an increase in seized property in 2022.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Investment Earnings 1,541$ 1,005$ 4,598$ 3,057$ 3,593$ 457.51%
Sale of credits 867 230,300 230,300 229,433 ‐ 100.00%
TOTAL REVENUES 2,408 231,305 234,898 232,490 3,593 101.55%
EXPENDITURES:
Personnel 2,825 11,000 6,184 3,359 4,816 56.22%
Contracted Services 4,884 40,000 8,411 3,527 31,589 21.03%
TOTAL EXPENDITURES 7,709 51,000 14,595 6,886 36,405 28.62%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE (5,301) 180,305 220,303 225,604 39,998 122.18%
BEGINNING FUND BALANCE, Jan 1 348,826 234,325 234,325 (114,501) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 234,325$ 414,630$ 454,628$ 220,303$ 39,998$ 109.65%
SPRINGBROOK WETLANDS
VARIANCE
FAVORABLE (UNFAVORABLE)
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Contributions 69,054$ ‐$ 154,526$ 85,472$ 154,526$ N/A
Investment Earnings 3,679 ‐ 5,903 2,224 5,903 N/A
TOTAL REVENUES 72,733 ‐ 160,429 87,696 160,429 N/A
EXPENDITURES:
Supplies 29,574 330,969 ‐ (29,574) 330,969 0.00%
Contracted Services 97,180 ‐ 549 (96,631) (549) N/A
Capital Outlay 186,903 ‐ 151,035 (35,868) (151,035) N/A
TOTAL EXPENDITURES 313,657 330,969 151,584 (162,073) 179,385 45.80%
Transfers Out ‐ (300,556) (300,556) (300,556) ‐ N/A
NET TRANSFERS ‐ (300,556) (300,556) 300,556 ‐ N/A
CHANGE IN FUND BALANCE (240,924) (631,525) (291,711) 550,325 339,814 N/A
BEGINNING FUND BALANCE, Jan 1 872,449 631,525 631,525 (240,924) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 631,525$ ‐$ 339,814$ (291,711)$ 339,814$ N/A
POLICE SEIZURE
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 12 of 36
Supplies and Capital Outlay – All seizure expenditure budgets are carried forward each year in the supplies category. This
will result in categories like capital outlay being under budget and supplies over budget.
Transfers Out – The increase from prior year is due to a one‐time transfer for purchase of body camera equipment.
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.
Contracted Services – All CSAM seizure expenditure budgets are carried forward each year in the contracted services
category. This will result in categories like capital outlay being over budget and contracted services under budget.
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.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Fines and penalties 45,386$ ‐$ 14,524$ (30,862)$ 14,524$ N/A
Investment Earnings 803 ‐ 1,809 1,006 1,809 N/A
TOTAL REVENUES 46,189 ‐ 16,333 (29,856) 16,333 N/A
EXPENDITURES:
Contracted Services 2,000 174,826 44 (1,956) (174,782) 0.03%
Capital Outlay 20,000 ‐ 18,311 (1,689) 18,311 N/A
TOTAL EXPENDITURES 22,000 174,826 18,355 (3,645) 156,471 10.50%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 24,189 (174,826) (2,022) (26,211) 172,804 N/A
BEGINNING FUND BALANCE, Jan 1 150,637 174,826 174,826 24,189 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 174,826$ ‐$ 172,804$ (2,022)$ 172,804$ N/A
POLICE CSAM SEIZURE
VARIANCE
FAVORABLE (UNFAVORABLE)
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 195,224$ 1,299,000$ 1,232,198$ 1,036,974$ (66,802)$ 94.86%
Investment Earnings 11,044 ‐ 31,890 20,846 31,890 N/A
TOTAL REVENUES 206,268 1,299,000 1,264,088 1,057,820 (34,912) 97.31%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out (436,987) (500,634) (500,634) (63,647) ‐ 100.00%
NET TRANSFERS (436,987) (500,634) (500,634) 63,647 ‐ 100.00%
CHANGE IN FUND BALANCE (230,719) 798,366 763,454 994,173 (34,912) 95.63%
BEGINNING FUND BALANCE, Jan 1 2,191,452 1,960,733 1,960,733 (230,719) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 1,960,733$ 2,759,099$ 2,724,187$ 763,454$ (34,912)$ 98.73%
FIRE IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 13 of 36
Charges for services ‐ The increase in charges for services is primarily due to increased impact fees from construction and
development projects largely due to the Solera project. This revenue is typically budgeted at a lower amount as
construction activity is not cyclical and can fluctuate based on construction projects within the city.
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 & Contracted Services – Charges for services increase from the prior year due to increased impact fees
collected from large one‐time development activities largely due to the Solera project. The variance from budget is due to
adding additional budget in the year end adjustment as the fund was forecasted to end well above the original budget for
2022.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 502,776$ 4,595,000$ 4,088,842$ 3,586,066$ (506,158)$ 88.98%
Investment Earnings 266 ‐ 3,941 3,675 3,941 N/A
TOTAL REVENUES 503,041 4,595,000 4,092,783 3,589,742 (502,217) 89.07%
EXPENDITURES:
Contracted Services 503,029 4,595,000 4,092,795 3,589,766 502,205 89.07%
TOTAL EXPENDITURES 503,029 4,595,000 4,092,795 3,589,766 502,205 89.07%
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 12 ‐ (12) (24) (12) N/A
BEGINNING FUND BALANCE, Jan 1 ‐ 12 12 12 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 12$ 12$ ‐$ (12)$ (12)$ 0.00%
SCHOOL DISTRICT IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 14 of 36
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.
Charges for Services – The increase in charges for services is primarily due to increased impact fees which correlates directly
with other increases in construction and development.
Transfers In – In 2021 it was decided that the funds should be returned to the funding source fund to have interest accumulate
in the proper fund. This was changed in 2022 to transfer the full funding amounts to the respective capital project.
Transfers Out – The increase over prior year is due to increased funding to capital projects in 2022 including Phillip Arnold,
May Creek South, Cascade Park Playground and Kiwanis Park.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 222,541$ 1,386,500$ 1,492,501$ 1,269,960$ 106,001$ 107.65%
Investment Earnings 12,056 ‐ 50,090 38,034 50,090 N/A
TOTAL REVENUES 234,597 1,386,500 1,542,591 1,307,994 156,091 111.26%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In 1,484,964 ‐ ‐ (1,484,964) ‐ N/A
Transfers Out ‐ (3,380,595) (3,380,595) (3,380,595) (0) 100.00%
NET TRANSFERS 1,484,964 (3,380,595) (3,380,595) 1,895,631 ‐ 100.00%
CHANGE IN FUND BALANCE 1,719,561 (1,994,095) (1,838,004) (3,557,565) 156,091 92.17%
BEGINNING FUND BALANCE, Jan 1 1,713,833 3,433,393 3,433,393 1,719,560 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 3,433,394$ 1,439,298$ 1,595,389$ (1,838,005)$ 156,091$ 110.84%
COMMUNITY SERVICES IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 15 of 36
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 increase in charges for services is primarily due to increased impact fees which correlates directly
with other increases in construction and development largely driven by the Solera project.
Investment Earnings – The increase over prior year and budget are a result of higher than anticipated investment returns
due to rising rates and an increased cash balance due to higher than anticipated revenues. Investment earnings are allocated
based on each fund’s cash balance.
Transfers Out – The increase in transfers out from 2021 is due to one time transfers to capital projects including $6.6M for
Rainier Ave Phase 4.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 2,085,910$ 8,018,957$ 8,505,438$ 6,419,528$ 486,481$ 106.07%
Investment Earnings 21,008 25,739 130,793 109,785 105,054 508.15%
TOTAL REVENUES 2,106,918 8,044,696 8,636,231 6,529,313 591,535 107.35%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out (102,837) (6,851,255) (6,831,255) (6,728,418) (20,000) 99.71%
NET TRANSFERS (102,837) (6,851,255) (6,831,255) (6,728,418) (13,682,510) 99.71%
CHANGE IN FUND BALANCE 2,004,081 1,193,441 1,804,976 (199,105) 611,535 N/A
BEGINNING FUND BALANCE, Jan 1 3,154,954 5,159,035 5,159,035 2,004,081 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 5,159,035$ 6,352,476$ 6,964,011$ 1,804,976$ 611,535$ 109.63%
TRANSPORTATION IMPACT MITIGATION
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 16 of 36
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 2021. The amount over the annual budget is due to still having a historically higher performance in 2022 than prior
years historical figures and forecasts. As interest rates rise, we may continue to see some impact on real estate excise taxes.
Transfers out – The amount over the prior year relates to a one‐time transfer moving REET funds to the Family First Center
project.
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.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 5,043,938$ 2,300,000$ 4,046,473$ (997,465)$ 1,746,473$ 175.93%
Investment Earnings 21,914 ‐ 75,117 53,203 75,117 N/A
TOTAL REVENUES 5,065,852 2,300,000 4,121,590 (944,262) 1,821,590 179.20%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out (2,600,004) (5,579,996) (5,579,996) (2,979,991) (0) 100.00%
NET TRANSFERS (2,600,004) (5,579,996) (5,579,996) 2,979,991 ‐ 100.00%
CHANGE IN FUND BALANCE 2,465,848 (3,279,996) (1,458,406) (3,924,254) 1,821,590 44.46%
BEGINNING FUND BALANCE, Jan 1 2,042,269 4,508,117 4,508,117 2,465,848 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 4,508,117$ 1,228,121$ 3,049,711$ (1,458,406)$ 1,821,590$ 248.32%
REET 1
VARIANCE
FAVORABLE (UNFAVORABLE)
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Taxes 5,043,938$ 2,300,000$ 4,046,472$ (997,466)$ 1,746,472$ 175.93%
Investment Earnings 35,873 ‐ 121,461 85,588 121,461 N/A
TOTAL REVENUES 5,079,811 2,300,000 4,167,933 (911,878) 1,867,933 181.21%
EXPENDITURES:
TOTAL EXPENDITURES ‐ ‐ ‐ ‐ ‐ N/A
Transfers In 3,177,680 ‐ ‐ (3,177,680) ‐ N/A
Transfers Out (2,896,211) (6,921,118) (6,921,118) (4,024,907) ‐ 100.00%
NET TRANSFERS 281,469 (6,921,118) (6,921,118) 847,227 ‐ 100.00%
CHANGE IN FUND BALANCE 5,361,280 (4,621,118) (2,753,185) (8,114,465) 1,867,933 59.58%
BEGINNING FUND BALANCE, Jan 1 3,411,866 8,773,145 8,773,145 5,361,279 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 8,773,146$ 4,152,027$ 6,019,960$ (2,753,186)$ 1,867,933$ 144.99%
REET 2
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 17 of 36
Taxes – The decreases in taxes from prior year are due to decreased real estate transactions which were at historically high
levels in 2021. As interest rates rise, we may continue to see some impact on real estate excise taxes.
Investment Earnings – The increase over budget is a result of higher than anticipated investment returns due to rising rates
and an increased cash balance due to higher than anticipated revenues. Investment earnings are allocated based on each
fund’s cash balance. Investment earnings are not budgeted in the REET fund as cash balances fluctuate significantly as these
funds are transferred to the capital projects.
Transfers In – The amounts under prior year are due to the prior year having a one‐time transfer in from 316 for unused
REET funding at year end.
Transfers Out – The amount over prior year is due to increased one‐time funding transferred to capital projects in 2022
including transfers to Coulon North Waterwalk ($1.4M), and Kiwanis Park ($1.5M).
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 18 of 36
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.
Charges for Services – The decrease from prior year is due a one‐time payment‐in‐lieu of $157K for urban forestry. These
payments are made by developers to the city when it is determined that replacing trees removed for a project is not
feasible and they must pay the market value of replacement trees.
Contributions – The increase from prior year is due to large one time contributions from the Custer Fund and Senior Center
Fund for capital projects in 2022. Both the Custer Fund and Senior Center Fund are donated funds held by the Renton
Community Foundation for specified uses and must be requested with an applicable purpose to utilize the funds. Custer
Fund is limited for park improvements and Senior Center Fund is limited for projects benefitting the Renton Senior Center.
Investment Earnings – The increase over prior year and budget is a result of higher than anticipated investment returns due
to rising rates and an increased cash balance due to higher than anticipated revenues. Investment earnings are allocated
based on each fund’s cash balance.
Contracted Services – The increase from prior year is primarily due to architectural design of space planning related to
human services department and equity, housing and human services department. The amount under budget is primarily
due unspent project funds for the Pavilion Remodel $450K.
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 ($406K).
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 1,334,415$ 3,579,906$ 591,912$ (742,503)$ (2,987,994)$ 16.53%
Charges for services 157,795 ‐ 56,449 (101,346) 56,449 N/A
Sale of general fixed assets 80,000 ‐ ‐ (80,000) ‐ N/A
Contributions 11,000 842,154 842,454 831,454 300 100.04%
Investment Earnings 83,297 162,840 186,230 102,933 23,390 114.36%
TOTAL REVENUES 1,666,507 4,584,900 1,677,045 10,538 (2,907,855) 36.58%
EXPENDITURES:
Personnel 500,735 427,069 429,623 (71,112) (2,554) 100.60%
Contracted Services 157,403 1,068,707 391,770 234,367 676,937 36.66%
Capital Outlay 3,955,052 36,119,447 9,273,108 5,318,056 26,846,339 25.67%
TOTAL EXPENDITURES 4,613,190 37,615,223 10,094,501 5,481,311 27,520,722 26.84%
Transfers In 4,633,641 16,264,057 16,264,057 11,630,416 (0) 100.00%
Transfers Out (5,160,838) (50,643) (0) 5,160,838 (50,643) N/A
NET TRANSFERS (527,198) 16,213,414 16,264,057 6,469,578 50,643 100.31%
CHANGE IN FUND BALANCE (3,473,881) (16,816,909) 7,846,601 11,320,482 24,663,510 ‐46.66%
BEGINNING FUND BALANCE, Jan 1 20,298,663 16,824,783 16,824,783 (3,473,880) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 16,824,782$ 7,874$ 24,671,384$ 7,846,602$ 24,663,510$ 313327.20%
MUNICIPAL FACILITIES CIP
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 19 of 36
Transfers In – The increase over prior year is due to increased funding transferred to capital projects including: $1.4M for
ESCO Phase 3, $3M for City Hall Remodel, $1M for HMAC construction, $2.1M for Phillip Arnold Park, $2.7M for Kiwanis Park,
and $2.8M for Coulon North Water Walk.
Transfers Out ‐ In 2021, it was decided that the funds should be returned to the funding source fund to have interest
accumulate in the proper fund. This was changed in 2022 to transfer the full funding amounts to the respective capital project.
Capital Improvement Fund
This fund accounts for the city’s transportation capital projects.
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.
Contributions – The amount under budget is due to the anticipated contribution from a WSDOT contractor for the Gateway
Enhancement Project that was not received until 2023.
Contracted Services – The decrease from prior year is primarily due to professional services and other non‐capital work
associated with capital projects that vary based on the project start date and work completed to date. In 2022, the largest
expenditures related to the traffic safety program, street overlay program and bridge inspection and repair program
totalling $220K in expenditures. The amount under 2022 budget is primarily due to timing of project start dates of which
the arterial circulation program saw a budget savings of $132K.
Capital Outlay – Increase in capital outlay expenditures is due to large ongoing projects reaching significant completion
dates and additional capital expenditures being spent. Largest project expenditures include Rainier Avenue Phase 4 ($3.7M)
and Duvall Avenue ($5.8M). The amount under budget is due to project timing on when the construction phase of projects
begins; this makes up the majority of project expenditures. These project budgets are typically carried forward to the next
year.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 7,710,276$ 43,521,860$ 9,772,886$ 2,062,610$ (33,748,974)$ 22.46%
Fines and penalties 32,706 ‐ ‐ (32,706) ‐ N/A
Contributions ‐ 200,000 ‐ ‐ (200,000) 0.00%
Investment Earnings 68,537 38,200 77,536 8,999 39,336 202.97%
TOTAL REVENUES 7,811,519 43,760,060 9,850,422 2,038,903 (33,909,638) 22.51%
EXPENDITURES:
Personnel 83,923 25,000 42,858 (41,065) (17,858) 171.43%
Supplies 153,323 65,129 108,006 (45,317) (42,877) 165.83%
Contracted Services 511,778 536,978 288,294 (223,484) 248,684 53.69%
Capital Outlay 14,897,642 62,436,745 17,315,447 2,417,805 45,121,298 27.73%
Internal Services 56,000 56,000 56,000 ‐ ‐ 100.00%
TOTAL EXPENDITURES 15,702,666 63,119,852 17,810,605 2,107,939 45,309,247 28.22%
Transfers In 1,858,387 9,734,705 9,714,705 7,856,318 (20,000) 99.79%
Transfers Out ‐ (61,400) (61,400) (61,400) ‐ N/A
NET TRANSFERS 1,858,387 9,673,305 9,653,305 7,917,718 (20,000) 99.79%
CHANGE IN FUND BALANCE (6,032,760) (9,686,487) 1,693,122 7,725,882 11,379,609 N/A
BEGINNING FUND BALANCE, Jan 1 16,792,413 10,868,853 10,868,853 (5,923,560) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 10,868,853$ 1,182,366$ 12,561,975$ 1,693,122$ 11,379,609$ 1062.44%
CAPITAL IMPROVEMENT
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 20 of 36
Transfers In – The increase from prior year is due to one‐time transfers to fund project budgets of which the largest was
$6.6M for Rainier Phase 4 project from transportation impact mitigation fees.
Family First Center Fund
This fund is used to account for the construction of the new Family First Center. Funds accumulated for the construction of
the Family First Center are maintained in the fund balance until such time that Council authorizes their use through the
approval of contracts and additional project budget is established through the budget adjustment process.
Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenditures, and reimbursement of related expenditures. Grant revenue is budgeted
at 100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
reimbursement of grant expenditures occurring in a future year. Any grant revenue not received in award year is carried
forward each year until the grant funds are fully received or the grant agreement expires.
Contributions – The increase from prior year relates to receipt of funds from the Renton Community Foundation who
partnered with the city to facilitate the collection of the fundraising needed for construction. The amount under budget is
due to several contributions not being paid until project completion in 2023.
Capital Outlay – Increase from prior year is due to the project timeline and the majority of construction expenditures being
incurred in 2022.
Transfers In/Transfers Out – The change from prior year relates to a one‐time transfer in from REET and a subsequent
transfer out to general fund to fund restricted project usage for construction.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 4,509,000$ 1,510,000$ 1,510,000$ (2,999,000)$ 33.49%
Contributions ‐ 5,283,000 5,025,344 5,025,344 (257,656) 95.12%
Investment Earnings 39,771 ‐ 79,124 39,353 79,124 N/A
TOTAL REVENUES 39,771 9,792,000 6,614,468 6,574,697 (3,177,532) 67.55%
EXPENDITURES:
Contracted Services 82,892 ‐ 42,466 (40,426) (42,466) N/A
Capital Outlay 121,844 14,778,258 12,015,610 11,893,766 2,762,648 81.31%
TOTAL EXPENDITURES 204,736 14,778,258 12,058,076 11,853,340 2,720,182 81.59%
Transfers In 47,196 3,050,643 3,000,000 2,952,804 (50,643) 98.34%
Transfers Out ‐ (3,000,000) (3,000,033) (3,000,033) 33 N/A
NET TRANSFERS 47,196 50,643 (33) 5,952,837 (50,676) ‐0.07%
CHANGE IN FUND BALANCE (117,769) (4,935,615) (5,443,641) (5,325,872) (508,026) N/A
BEGINNING FUND BALANCE, Jan 1 8,356,704 8,238,935 8,238,935 (117,769) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 8,238,935$ 3,303,320$ 2,795,294$ (5,443,641)$ (508,026)$ 84.62%
FAMILY FIRST CENTER
VARIANCE
FAVORABLE (UNFAVORABLE)
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 21 of 36
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. The lease revenues were previously classified as charges for services but are
not being reflected in their own line item below.
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.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental ‐$ 379,240$ 57,529$ 57,529$ (321,711)$ 15.17%
Charges for services 2,583,590 3,047,910 3,446,190 862,600 398,280 113.07%
Fines and penalties ‐ ‐ 25 25 25 N/A
Interest and other misc 39,156 29,368 160,853 121,697 131,485 547.72%
TOTAL REVENUES 3,224,911 3,456,518 3,664,597 439,686 208,079 106.02%
EXPENSES:
Personnel 1,067,346 1,442,365 1,095,538 (28,192) 346,827 75.95%
Supplies 42,860 39,471 115,459 (72,599) (75,988) 292.52%
Contracted Services 1,222,490 1,187,468 728,844 493,646 458,624 61.38%
Internal Services 344,095 459,213 371,749 (27,654) 87,464 80.95%
TOTAL OPERATING EXPENSES 2,676,791 3,128,517 2,311,590 365,201 816,927 73.89%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 548,120 328,001 1,353,007 804,887 1,025,006 412.50%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 348,644 6,259,960 169,069 179,575 6,090,891 2.70%
TRANSFERS OUT (16,130) ‐ ‐ (16,130) ‐ N/A
NET TRANSFERS (16,130) ‐ ‐ 16,130 ‐ N/A
CHANGE IN FUND BALANCE 183,346 (5,931,959) 1,183,938 1,000,592 7,115,897 N/A
BEGINNING FUND BALANCE, Jan 1 7,558,405 7,741,751 7,741,751 183,346 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 7,741,751$ 1,809,792$ 8,925,689$ 1,183,938$ 7,115,897$ 493.19%
Operating Reserve 216,784 241,390 241,390
AVAILABLE FUND BALANCE 7,524,967$ 1,568,402$ 8,684,299$
VARIANCE
AIRPORT
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 22 of 36
Charges for Services – Charges for services is primarily made up of rents, leases and miscellaneous revenue. The increase
over prior year and budget is a result of lease increases, in addition to three new executed leases in 2022.
Interest and Investment Earnings – The increase over prior year and budget is a result of higher than anticipated investment
returns due to rising rates and an increased cash balance due to higher than anticipated revenues. Investment earnings are
allocated based on each fund’s cash balance.
Personnel – The amount under budget is due to two vacant positions in 2022.
Contracted Services – The decrease from the prior year is primarily due to a large one‐time project expenditure in 2021 of
$494K for the Runway Panel Repair Project which did not occur in 2022. The amount under budget is due to capital‐related
contract services. Capital‐related contract services vary each year based on scope of work started and/or completed.
Capital Outlay‐ The decrease from prior year is due to fewer capital projects completed in 2022; many project expenditures
were for non‐capital projects instead such as maintenance and repair. The amount under budget is due several large
projects delayed in 2022, including $2.7M for Airport Office Rehabilitation and $1.3M for Taxiway Alpha Rehabilitation.
Solid Waste Fund
This fund accounts for revenues and expenses for administration and operating of solid waste, recycling, and yard waste
collection services for the city.
Grants/Intergovernmental – Federal/State/Local grant revenue varies significantly from year‐to‐year based on volume of
grant awards procured, timing of grant expenses, and reimbursement of related expenses. Grant revenue is budgeted at
100% of award at the time the grant agreement is executed, sometimes resulting in a budget variance due to
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 69,496$ 313,136$ 34,783$ (34,713)$ (278,353)$ 11.11%
Charges for services 20,819,209 23,815,136 23,880,856 3,061,647 65,720 100.28%
Interest and other misc 13,637 5,000 41,326 27,689 36,326 826.52%
TOTAL REVENUES 20,902,342 24,133,272 23,956,965 3,054,623 (176,307) 99.27%
EXPENSES:
Personnel 518,200 734,328 447,475 70,725 286,853 60.94%
Supplies 2,496 11,900 9,421 (6,925) 2,479 79.17%
Contracted Services 19,499,706 23,734,076 22,582,966 (3,083,260) 1,151,110 95.15%
Internal Services 261,166 405,259 358,155 (96,989) 47,104 88.38%
TOTAL OPERATING EXPENSES 20,281,568 24,885,563 23,398,017 (3,116,449) 1,487,546 94.02%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 620,774 (752,291) 558,948 (61,826) 1,311,239 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
TRANSFERS OUT (94) ‐ ‐ (94) ‐ N/A
NET TRANSFERS (94) ‐ ‐ 94 ‐ N/A
CHANGE IN FUND BALANCE 620,680 (752,291) 558,948 (61,732) 1,311,239 N/A
BEGINNING FUND BALANCE, Jan 1 2,771,562 3,392,243 3,392,243 620,681 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 3,392,242$ 2,639,952$ 3,951,191$ 558,949$ 1,311,239$ 149.67%
Operating Reserve 400,000 400,000 400,000
AVAILABLE FUND BALANCE 2,992,242$ 2,239,952$ 3,551,191$
SOLID WASTE
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 23 of 36
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.
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 from the city’s garbage service provider, Republic Services.
Personnel – The amount under budget is due to a reorganization of solid waste and sustainability which allocated serval
support positions to the newly created sustainability department as opposed to the solid waste fund as they are no longer
supporting solid waste services. After reorganization the solid waste program manager position was unfilled for a significant
portion of the year.
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 expenditures have increased from prior year
due to increase of prices from the garbage service provider consistent with increases in CPI as well as a timing issue in prior
year which only recorded 11 months of activity. The amount under budget is primarily due to cost for services provided by
our garbage service provider coming in lower than anticipated when the budget was established.
Golf Course Fund
This fund accounts for revenues and expenses for administration, debt service, operation, capital improvements, and
maintenance of the Maplewood Golf Course.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 2,776,650$ 2,170,763$ 2,555,063$ (221,587)$ 384,300$ 117.70%
Rents, leases, and misc fees 401,232 527,600 493,099 91,867 (34,501) 93.46%
Interest and other misc 6,659 (122,192) (102,450) (109,109) 19,742 N/A
TOTAL REVENUES 3,184,541 2,576,171 2,945,712 (238,829) 369,541 114.34%
EXPENSES:
Personnel 1,543,698 1,777,316 1,660,701 (117,003) 116,615 93.44%
Supplies 366,441 321,704 367,210 (769) (45,506) 114.15%
Contracted Services 151,079 157,250 160,128 (9,049) (2,878) 101.83%
Internal Services 364,509 460,660 494,078 (129,569) (33,418) 107.25%
TOTAL OPERATING EXPENSES 2,425,727 2,716,930 2,682,117 (256,390) 34,813 98.72%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 758,814 (140,759) 263,595 (495,219) 404,354 N/A
DEBT SERVICE:
Principal ‐ 36,774 36,774 (36,774) ‐ 100.00%
Interest ‐ 1,740 1,740 (1,740) ‐ 100.00%
TOTAL DEBT SERVICE ‐ 38,514 38,514 (38,514) ‐ 100.00%
CAPITAL OUTLAY 12,662 627,410 418,513 (405,851) 208,897 66.70%
TRANSFERS IN 68,100 852,661 852,661 784,561 ‐ 100.00%
TRANSFERS OUT (68,100) (272,200) (272,200) 204,100 ‐ N/A
NET TRANSFERS ‐ 580,461 580,461 580,461 ‐ 100.00%
CHANGE IN FUND BALANCE 746,152 (226,222) 387,029 (359,123) 613,251 N/A
BEGINNING FUND BALANCE, Jan 1 476,746 1,222,897 1,222,897 746,151 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 1,222,898$ 996,675$ 1,609,926$ 387,028$ 613,251$ 161.53%
Operating Reserve 641,500 746,233 746,233
AVAILABLE FUND BALANCE 581,398$ 250,442$ 863,693$
GOLF COURSE
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 24 of 36
Charges for Services & Interest and Other Misc. – After an internal audit, it was determined the golf course is subject to the
city’s admission tax, which is collected from the consumer at time of purchase. An adjustment for taxes due for years 2017‐
2020 were remitted to the general fund in 2022, along with the associated penalties and interest on the unpaid taxes.
Current year reflects the accounting adjustment for this prior period adjustment.
Personnel – The increase from prior year is due to one vacant position which was filled in 2022. The amount under budget
is primarily due to lower than anticipated benefit costs due to variable participation levels in city‐provided benefits for
healthcare coverage.
Internal Services – The increase from prior year is due to an increased use of internal services primarily due to prior year
decreased costs charged to other departments. Internal service funds did not expend the majority of their anticipated
budgets in 2021.
Capital Outlay – The increase from prior year is due multiple large projects taking place including golf course netting
replacement, golf cart fleet replacement and procurement of various capital equipment. The amount under budget is due
to projects not being completed in 2022; these project budgets will be carried forward to 2023.
Transfers In – The increase from prior year is due to the admission tax amount repaid to the golf course from the general
fund to offset the 2017‐current costs associated with the tax.
Transfers Out – The increase from prior year is due to a transfer from the golf course operating fund to the golf course
capital fund to fund capital project budgets for 2022.
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 25 of 36
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.
Charges for services – The amount over budget is due to higher than anticipated collections in 2022. The water usage was
slightly less than prior year but higher rates on the usage drove billing and collections amounts to increase from prior year.
Rents, Leases, and Misc. Fees – The amount over the annual budget is due to increased rent activity, including the execution
of at least three new leases in 2022.
Interest and Other Misc. – Increase over prior year is due to increased system development charges and increased special
assessment district charges. The amount over the annual budget is primarily due to an increase in investment interest in 2022
due to higher than anticipated returns on our investments.
Personnel – The amount below prior year and budgeted amount is due to having five vacant positions open in 2022.
Supplies – The amount over prior year and annual budget is primarily due to an increase in water chemical costs and office
and operating supplies.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 18,756,458$ 18,449,435$ 18,825,203$ 68,745$ 375,768$ 102.04%
Rents, leases, and misc fees 202,333 136,591 259,955 57,622 123,364 190.32%
Interest and other misc 567,000 875,550 1,526,952 959,952 651,402 174.40%
TOTAL REVENUES 19,525,791 20,933,613 20,612,110 1,086,319 (321,503) 98.46%
EXPENSES:
Personnel 4,565,219 5,114,807 4,376,591 188,628 738,216 85.57%
Supplies 865,824 885,876 1,134,189 (268,365) (248,313) 128.03%
Contracted Services 3,254,836 3,975,102 3,420,049 (165,213) 555,053 86.04%
Internal Services 2,220,078 2,829,630 2,801,543 (581,465) 28,087 99.01%
TOTAL OPERATING EXPENSES 10,905,957 12,805,415 11,732,372 (826,415) 1,073,043 91.62%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 8,619,834 8,128,198 8,879,738 259,904 751,540 109.25%
DEBT SERVICE:
Principal 1,563,068 1,556,117 1,556,117 6,951 ‐ 100.00%
Interest 217,352 190,874 190,408 26,944 466 99.76%
TOTAL DEBT SERVICE 1,780,420 1,746,991 1,746,525 33,895 466 99.97%
CAPITAL OUTLAY 3,759,249 36,863,818 2,741,136 1,018,113 34,122,682 7.44%
TRANSFERS OUT (6,614) (40,138) (33,868) 27,254 (6,270) N/A
NET TRANSFERS (6,614) (40,138) (33,868) (27,254) 6,270 N/A
CHANGE IN FUND BALANCE 3,073,551 (30,522,749) 4,358,209 1,284,658 34,880,958 N/A
BEGINNING FUND BALANCE, Jan 1 40,776,314 43,849,867 43,849,867 3,073,553 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 43,849,865$ 13,327,118$ 48,208,076$ 4,358,211$ 34,880,958$ 361.73%
Restricted for Debt Service 1,394,050 1,394,050 1,394,050
Operating Reserve 1,624,606 1,712,156 1,712,156
AVAILABLE FUND BALANCE 40,831,209$ 10,220,912$ 45,101,870$
WATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 26 of 36
Contracted services – The increase in contracted services expenses is primarily due to increased electricity expenses from
prior year. The amount under budget is due less than anticipated professional services performed as well as less than
anticipated payments to other funds for labor performed in 2022.
Internal Services – Increase from prior year is due to increased use of internal services in 2021 which is allocated out to the
departments. This amount is charged out based upon the established budget and will be trued up to actual expenditures at
year end.
Capital Outlay – The decrease from prior year is primarily due to lower project expenses in current year for the following:
Downtown Water Main Replacement project, NE 16th St and Jefferson Ave project, and Kennydale 320 Reservoir project. The
amount under budget is due to projects not yet started or just started which have not had significant expenses in 2022. The
project budgets will be carried forward to the following year.
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.
Charges for Services – Wastewater charges increased from the prior year primarily due to an increase in usage.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 85,775$ 62,422$ 91,346$ 5,571$ 28,924$ 146.34%
Charges for services 11,328,259 11,671,891 11,704,629 376,370 32,738 100.28%
Fines and penalties 11,789 ‐ 61 (11,728) 61 N/A
Interest and other misc 747,027 680,250 968,581 221,554 288,331 142.39%
TOTAL REVENUES 12,172,850 12,414,563 12,764,617 591,767 350,054 102.82%
EXPENSES:
Personnel 2,295,742 2,945,540 2,354,721 (58,979) 590,819 79.94%
Supplies 108,182 73,842 75,609 32,573 (1,767) 102.39%
Contracted Services 2,763,500 2,697,313 2,353,794 409,706 343,519 87.26%
Internal Services 1,541,589 1,990,452 1,896,536 (354,947) 93,916 95.28%
TOTAL OPERATING EXPENSES 6,709,013 7,707,147 6,680,660 28,353 1,026,487 86.68%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 5,463,837 4,707,416 6,083,957 620,120 1,376,541 129.24%
DEBT SERVICE:
Principal 612,850 624,400 624,400 (11,550) ‐ 100.00%
Interest 97,843 85,491 85,252 12,591 239 99.72%
TOTAL DEBT SERVICE 710,693 709,891 709,652 1,041 239 99.97%
CAPITAL OUTLAY 7,954,437 17,687,727 3,353,224 4,601,213 14,334,503 18.96%
TRANSFERS IN ‐ 48,400 48,400 48,400 ‐ 100.00%
TRANSFERS OUT (6,239) ‐ (7,297) 1,058 7,297 N/A
NET TRANSFERS (6,239) 48,400 41,103 47,342 (7,297) 84.92%
CHANGE IN FUND BALANCE (3,207,532) (13,641,802) 2,062,184 5,269,716 15,703,986 N/A
BEGINNING FUND BALANCE, Jan 1 23,996,217 20,788,687 20,788,687 (3,207,530) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 20,788,685$ 7,146,885$ 22,850,871$ 2,062,186$ 15,703,986$ 319.73%
Restricted for Debt Service 661,227 661,227 661,227
Operating Reserve 913,756 962,039 962,039
AVAILABLE FUND BALANCE 19,213,702$ 5,523,619$ 21,227,605$
WASTEWATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 27 of 36
Interest and Investment Earnings – The increase over prior year and budget is a result of higher than anticipated investment
returns due to rising rates and an increased cash balance due to lower than anticipated capital expenditures. Investment
earnings are allocated based on each fund’s cash balance.
Personnel – The amount under the annual budget is due to five vacant positions in 2022.
Contracted Services – The amount under budget and prior year is primarily due to: 1) prior year large one‐time professional
service contract for Kennydale Lakeline Sewer Upgrade, 2) budget savings from Wastewater Master Plan not spent in 2022
(124K).
Internal Services – Increase from prior year is due to increased use of internal services in 2021 which is allocated out to the
departments. This amount is charged out based upon the established budget and will be trued up to actual expenditures at
year end.
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 2021. The amount under budget is due to projects not yet started
or just started which have not had significant expenses in 2022. The project budgets will be carried forward to the following
year.
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 – Decrease from prior year and budget is due to January 2022 payment to King County Metro paid in
December 2021; current year figures will only reflect 11 months of cost due to this difference in timing of payment.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 17,881,960$ 18,495,877$ 19,394,800$ 1,512,840$ 898,923$ 104.86%
Interest and other misc 22,890 ‐ 65,460 42,570 65,460 N/A
TOTAL REVENUES 17,904,850 18,495,877 19,460,260 1,555,410 964,383 105.21%
EXPENSES:
Contracted Services 18,870,588 18,495,877 16,987,130 1,883,458 1,508,747 91.84%
TOTAL OPERATING EXPENSES 18,870,588 18,495,877 16,987,130 1,883,458 1,508,747 91.84%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (965,738) ‐ 2,473,130 3,438,868 2,473,130 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE (965,738) ‐ 2,473,130 3,438,868 2,473,130 N/A
BEGINNING FUND BALANCE, Jan 1 4,729,749 3,764,012 3,764,012 (965,737) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 3,764,011$ 3,764,012$ 6,237,142$ 2,473,131$ 2,473,130$ 165.70%
Operating Reserve 380,000 380,000 380,000
AVAILABLE FUND BALANCE 3,384,011$ 3,384,012$ 5,857,142$
KING COUNTY METRO
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 28 of 36
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. – Increase over budget is a result of higher than anticipated investment returns due to rising rates
and an increased cash balance due to lower than anticipated capital expenditures. Investment earnings are allocated based
on each fund’s cash balance.
Personnel – Decrease from prior year and amount under budget is due to five vacant positions in 2022.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 28,500$ 50,962$ 34,584$ 6,084$ (16,378)$ 67.86%
Grants / intergovernmental 936,498 14,047,565 1,442,131 505,633 (12,605,434) 10.27%
Charges for services 12,592,595 12,658,636 12,661,371 68,776 2,735 100.02%
Interest and other misc 1,603,032 1,542,203 1,644,383 41,351 102,180 106.63%
TOTAL REVENUES 15,160,625 28,299,366 15,782,469 621,844 (12,516,897) 55.77%
EXPENSES:
Personnel 3,861,860 4,177,515 3,761,823 100,037 415,692 90.05%
Supplies 133,904 179,267 102,319 31,585 76,948 57.08%
Contracted Services 2,497,751 4,540,475 2,074,587 423,164 2,465,888 45.69%
Internal Services 2,446,763 2,907,790 2,554,537 (107,774) 353,253 87.85%
TOTAL OPERATING EXPENSES 8,940,278 11,805,047 8,493,266 447,012 3,311,781 71.95%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 6,220,347 16,494,319 7,289,203 1,068,856 (9,205,116) 44.19%
DEBT SERVICE:
Principal 499,900 510,000 510,000 (10,100) ‐ 100.00%
Interest 111,349 100,842 100,649 10,700 193 99.81%
TOTAL DEBT SERVICE 611,249 610,842 610,649 600 193 99.97%
CAPITAL OUTLAY 6,373,606 25,104,106 3,810,048 2,563,558 21,294,058 15.18%
Transfers In 90,000 118,033 118,033 28,033 ‐ 100.00%
Transfers Out (28,919) (120,478) (140,480) 111,561 20,002 N/A
NET TRANSFERS 61,081 (2,445) (22,447) (83,528) (20,002) N/A
CHANGE IN FUND BALANCE (703,427) (9,223,074) 2,846,059 3,549,486 12,069,133 N/A
BEGINNING FUND BALANCE, Jan 1 21,610,356 21,682,758 21,682,758 72,402 ‐ 100.00%
Prior Period Adjustment 775,836 3,785,938 3,785,938 3,010,102 ‐ 100.00%
BEGINNING FUND BALANCE, Jan 1 ‐ restated 22,386,192 25,468,696 25,468,696 3,082,504 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 21,682,765$ 16,245,622$ 28,314,755$ 6,631,990$ 12,069,133$ 174.29%
Restricted for Debt Service 754,868 754,868 754,868
Operating Reserve 1,109,340 1,204,613 1,204,613
AVAILABLE FUND BALANCE 19,818,557$ 14,286,141$ 26,355,274$
SURFACE WATER UTILITY
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 29 of 36
Contracted Services – Decrease from prior year is largely due to one‐time expenses for professional services contracts
related to capital projects. The amount under budget is primarily due to unspent budget on the Cedar River Gravel Removal
project in 2022 ($2.4M).
Internal Services – Increase from prior year is due to increased use of internal services in 2021 which is allocated out to the
departments. This amount is charged out based upon the established budget and will be trued up to actual expenditures at
year end.
Capital Outlay – Decrease from prior year primarily relates to the Downtown Storm System Improvement project which
had most of its work completed in 2021. The amount under budget is due to projects not yet started or just started which
have not had significant expenses in 2022. The project budgets will be carried forward to the following year.
Transfers Out – Increase from prior year is due a one‐time transfer from the surface water operating fund to the surface
water capital fund for soft capital reimbursements.
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 30 of 36
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.
Interdepartmental services – The decrease from prior year is largely due a significant number of vehicles fully funded in 2021;
therefore, decreasing the charges out to departments starting in 2022 for capital recovery. This will continue to fluctuate as
older vehicles are replaced. The amount over budget is due to direct charges to departments for repairs and fuel usage which
fluctuates each year and month based on usage.
Interest and Other Misc. – The amount over budget is a result of higher than anticipated investment returns due to rising
rates and an increased cash balance due to lower than anticipated capital expenditures. Investment earnings are allocated
based on each fund’s cash balance.
Personnel – The amount under budget is primarily due to one vacant position in 2022.
Supplies – Increase from prior year primarily due to fuel expenses which are heavily influenced by current market prices of
fuel and are significantly higher than prior year.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Charges for services 81,203$ ‐$ 94,536$ 13,333$ 94,536$ N/A
Interdepartmental services 6,574,687 6,302,445 6,436,174 (138,513) 133,729 102.12%
Interest and other misc 214,760 12,000 166,480 (48,280) 154,480 1387.33%
TOTAL REVENUES 6,870,650 6,314,445 6,697,190 (173,460) 382,745 106.06%
EXPENSES:
Personnel 1,053,073 1,300,414 1,083,973 (30,900) 216,441 83.36%
Supplies 1,350,838 1,691,153 1,670,826 (319,988) 20,327 98.80%
Contracted Services 289,223 133,166 379,775 (90,552) (246,609) 285.19%
Internal Services 30,338 53,755 41,193 (10,855) 12,562 76.63%
TOTAL OPERATING EXPENSES 2,723,472 3,178,488 3,175,767 (452,295) 2,721 99.91%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 4,147,178 3,135,957 3,521,423 (625,755) 385,466 112.29%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 398,268 4,085,929 522,094 (123,826) 3,563,835 12.78%
TRANSFERS IN ‐ 130,671 153,137 153,137 22,466 117.19%
TRANSFERS OUT ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ 130,671 153,137 153,137 22,466 117.19%
CHANGE IN FUND BALANCE 3,748,910 (819,301) 3,152,466 (596,444) 3,971,767 N/A
BEGINNING FUND BALANCE, Jan 1 6,376,259 10,125,169 10,125,169 3,748,910 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 10,125,169$ 9,305,868$ 13,277,635$ 3,152,466$ 3,971,767$ 142.68%
Operating Reserves 9,305,868$ 9,305,868$
AVAILABLE FUND BALANCE 10,125,169$ ‐$ 3,971,767$
EQUIPMENT RENTAL
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 31 of 36
Contracted Services – Increase over budget is due to large one‐time expenses for repair and maintenance costs offset by
amounts over budget for interdepartmental services and other charges for services as they typically relate to a direct repair
and maintenance cost billed to departments or external customers.
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 replacing all budgeted vehicles. Vehicle replacement varies each year based on the condition and usage
of vehicles as well as the availability of suitable replacement vehicles to purchase.
Transfers In – The increase from last year is due to one‐time transfers to equipment rental fund from other departments to
cover the full replacement cost of the equipment being purchased. The equipment rental fund recovers a set replacement
amount each quarter based on the original purchase price of the equipment; at times the actual replacement cost will exceed
the amounts collected over the useful life of the vehicle which requires a transfer in from the department to the equipment
rental fund to purchase the new equipment.
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. – The amount over budget is a result of higher than anticipated investment returns due to rising
rates and an increased cash balance due to lower than anticipated capital expenditures. Investment earnings are allocated
based on each fund’s cash balance.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 3,177,720$ 4,234,653$ 4,689,399$ 1,511,679$ 454,746$ 110.74%
Interest and other misc 337,030 22,000 347,616 10,586 325,616 1580.07%
TOTAL REVENUES 3,514,750 4,256,653 5,037,015 1,522,265 780,362 118.33%
EXPENSES:
Personnel 1,095,734 1,621,091 1,166,139 (70,405) 454,952 71.94%
Supplies 536 6,956 68 468 6,888 0.98%
Contracted Services 2,731,282 2,956,973 3,145,677 (414,395) (188,704) 106.38%
TOTAL OPERATING EXPENSES 3,827,552 4,585,020 4,311,884 (484,332) 273,136 94.04%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (312,802) (328,367) 725,131 1,037,933 1,053,498 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
Transfers In 1,000,000 2,052,772 2,052,772 1,052,772 ‐ 100.00%
Transfers Out (52,868) (52,868) (51,420) (1,448) (1,448) N/A
NET TRANSFERS 947,132 1,999,904 2,001,352 1,054,220 1,448 100.07%
CHANGE IN FUND BALANCE 634,330 1,671,537 2,726,483 2,092,153 1,054,946 163.11%
BEGINNING FUND BALANCE, Jan 1 19,860,208 20,494,538 20,494,538 634,330 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 20,494,538$ 22,166,075$ 23,221,021$ 2,726,483$ 1,054,946$ 104.76%
Operating Reserves 13,952,413 20,906,374 20,906,374
AVAILABLE FUND BALANCE 6,542,125$ 1,259,701$ 2,314,647$
INSURANCE
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 32 of 36
Personnel – Decrease from prior year is primarily related to a decrease in unemployment and workers compensation claims
partially offset by salary increases from the addition of one position and cost of living adjustments in 2022.
Contracted Services – Increase from prior year primarily due to increased insurance premium costs and claims payments.
Transfers In – The increase from prior year is due to the need to increase the reserve transfer to be in compliance with the
city’s stabilization policy. In 2021, the transfer required was $1M and in 2022 that increased to $1.9M.
Information Technology Fund
This fund accounts for the administration, purchase, and operation of the city’s information technology systems, including
computer hardware and software, network servers and infrastructure, phone systems, and cell phones. Expenses are paid by
the Information Technology Fund and rates are charged to departments based on use.
Licenses and Permits ‐ The increase in licenses and permits from prior year and budget is primarily due to increased
permitting activity. A technology fee charge is collected from permit applications.
Interdepartmental Services – The increase over prior year is primarily related to an increase in charges to departments for
the replacement reserve of the city’s ERP system which was budgeted in 2022.
Personnel – The amount of personnel costs over prior year is primarily due to open positions in 2021; the positions that had
been held vacant due to the pandemic have been filled to support the increase in staff back at the office and the reopening
of City Hall as well as a cost‐of‐living adjustment in 2022.
Supplies & Contracted Services ‐ The amount over prior year largely relates to the purchase of police body cameras. The
amount under budget relates to the unspent balance of the body cameras and funding for remote work IT equipment.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Licenses and permits 185,611$ 150,000$ 257,614$ 72,003$ 107,614$ 171.74%
Interdepartmental services 4,714,050 9,128,746 9,125,435 4,411,385 (3,311) 99.96%
Interest and other misc 44,958 7,000 63,142 18,184 56,142 902.03%
TOTAL REVENUES 4,944,619 9,285,746 9,446,191 4,501,572 160,445 101.73%
EXPENSES:
Personnel 2,819,903 3,648,251 3,147,715 (327,812) 500,536 86.28%
Supplies 537,837 2,780,580 1,988,765 (1,450,928) 791,815 71.52%
Contracted Services 2,273,316 3,148,077 3,068,444 (795,128) 79,633 97.47%
TOTAL OPERATING EXPENSES 5,631,056 9,576,908 8,204,924 (2,573,868) 1,371,984 85.67%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (686,437) (291,162) 1,241,267 1,927,704 1,532,429 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 237,601 4,836,797 283,120 (45,519) 4,553,677 5.85%
TRANSFERS IN 643,551 4,384,113 4,409,742 3,766,191 25,629 100.58%
NET TRANSFERS 637,551 4,384,113 4,409,742 3,772,191 25,629 100.58%
CHANGE IN FUND BALANCE (286,487) (743,846) 5,367,889 5,654,376 6,111,735 N/A
BEGINNING FUND BALANCE, Jan 1 3,939,941 3,653,455 3,653,455 (286,486) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 3,653,454$ 2,909,609$ 9,021,344$ 5,367,890$ 6,111,735$ 310.05%
Operating Reserves 2,068,477$ 2,068,477$
AVAILABLE FUND BALANCE 3,653,454$ 841,132$ 1,584,978$
INFORMATION TECHNOLOGY
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 33 of 36
Capital Outlay –The amount under budget is due to several IT projects that have not yet started or were in initial phases in
2022 including Eden Replacement, Downtown and Renton Community Center Wi‐Fi, and facility audio video upgrade projects.
Transfers In ‐ The increase from prior year is due to one‐time transfers for IT capital projects including Eden Replacement,
Downtown and Renton Community Center Wi‐Fi, police body cameras, and facility audio video upgrade projects
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.
Personnel ‐ The amount over prior year is primarily due to open positions in 2021; the positions that had been held vacant
due to the pandemic have been filled to support the increase in staff back at the office and the reopening of City Hall as well
as a cost‐of‐living adjustment in 2022. The amount under budget is due to five vacant positions.
Supplies and Contracted Services ‐ 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 under utilized in the prior two years.
Transfers In – The decrease from prior year is due to a one‐time transfer for the citywide security system upgrade project.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 5,072,999$ 6,649,970$ 6,593,419$ 1,520,420$ (56,551)$ 99.15%
Interest and other misc 5,466 4,000 9,403 3,937 5,403 235.08%
TOTAL REVENUES 5,078,465 6,653,970 6,602,822 1,524,357 (51,148) 99.23%
EXPENSES:
Personnel 2,991,378 4,224,986 3,432,461 (441,083) 792,525 81.24%
Supplies 586,829 662,491 905,501 (318,672) (243,010) 136.68%
Contracted Services 1,404,851 1,805,887 1,982,579 (577,728) (176,692) 109.78%
Internal Services 129,486 153,770 141,208 (11,722) 12,562 91.83%
TOTAL OPERATING EXPENSES 5,112,544 6,847,134 6,461,749 (1,349,205) 385,385 94.37%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (34,079) (193,164) 141,073 175,152 334,237 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY 46,092 11,045 11,045 35,047 ‐ 100.00%
Transfers In 361,194 22,705 22,705 (338,489) ‐ 100.00%
NET TRANSFERS 361,194 22,705 22,705 (338,489) ‐ 100.00%
CHANGE IN FUND BALANCE 281,023 (181,504) 152,733 (128,290) 334,237 N/A
BEGINNING FUND BALANCE, Jan 1 504,167 785,189 785,189 281,022 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 785,190$ 603,685$ 937,922$ 152,732$ 334,237$ 155.37%
FACILITIES
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 34 of 36
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 2022.
Personnel – The increase over prior year is due to a portion of the executive services administrative secretary and Deputy
CAO charged to communications starting in 2022. The amount under budget is due to the communications director
position vacancy for the majority of 2022.
Contracted Services – The increase from prior year is due to multiple one‐time expenses including a consultant contract
($36K) due to communications director vacancy, development of a strategic plan ($25K), and a social media analytics tool
($26K).
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Interdepartmental services 827,218$ 1,373,535$ 1,373,535$ 546,317$ ‐$ 100.00%
Interest and other misc 19,277 1,000 1,778 (17,499) 778 177.80%
TOTAL REVENUES 846,495 1,377,535 1,378,313 531,818 778 100.06%
EXPENSES:
Personnel 661,597 946,412 757,883 (96,286) 188,529 80.08%
Supplies 28,045 71,927 47,485 (19,440) 24,442 66.02%
Contracted Services 164,960 364,512 283,704 (118,744) 80,808 77.83%
Internal Services 2,000 2,034 2,034 (34) ‐ 100.00%
TOTAL OPERATING EXPENSES 856,602 1,384,885 1,091,106 (234,504) 293,779 78.79%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS (10,107) (7,350) 287,207 297,314 294,557 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
Transfers Out ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE (10,107) (7,350) 287,207 297,314 294,557 N/A
BEGINNING FUND BALANCE, Jan 1 151,624 141,517 141,517 (10,107) ‐ 100.00%
ENDING FUND BALANCE, Dec 31 141,517$ 134,167$ 428,724$ 287,207$ 294,557$ 319.55%
COMMUNICATIONS
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
Page 35 of 36
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.
Premiums – Increase from prior year is due to an increase in the number of staff and an increase in the premium rates
charged in 2022.
Interest and Other Misc. – Increase from prior year is largely due to investment interest income which has seen a
significant boost in 2022 as interest rates rise.
Medical/Dental Claims – Increase from prior year is largely due to an increase in long‐term care costs and an increase in
claim expenses for retiree medical services.
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Premiums 12,300,979$ 13,417,329$ 11,589,186$ (711,793)$ (1,828,143)$ 86.37%
Interest and other misc 349,691 149,488 587,742 238,051 438,254 393.17%
TOTAL REVENUES 12,650,670 13,566,817 12,176,928 (473,742) (1,389,889) 89.76%
EXPENSES:
Personnel 306,053 375,034 341,178 (35,125) 33,856 90.97%
Medical/Dental Claims 10,956,891 12,752,837 11,014,926 (58,035) 1,737,911 86.37%
Supplies 1,669 7,500 6,711 (5,042) 789 89.48%
Contracted Services 438,971 514,456 468,985 (30,014) 45,471 91.16%
Internal Services 65,379 93,669 64,621 758 29,048 68.99%
TOTAL OPERATING EXPENSES 11,768,963 13,743,496 11,896,421 (127,458) 1,847,075 86.56%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 881,707 (176,679) 280,507 (601,200) 457,186 N/A
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 881,707 (176,679) 280,507 (601,200) 457,186 N/A
BEGINNING FUND BALANCE, Jan 1 5,773,429 6,655,137 6,655,137 881,708 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 6,655,136$ 6,478,458$ 6,935,644$ 280,508$ 457,186$ 107.06%
Insurance Reserves 3,774,249 4,123,049 4,123,049
AVAILABLE FUND BALANCE 2,880,887$ 2,355,409$ 2,812,595$
HEALTH INSURANCE
VARIANCE
Quarterly Financial Report City of Renton, Washington 4th Quarter 2022
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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.
Interest and Other Misc. – Increase from prior year is largely due to investment interest income which has seen a
significant boost in 2022 as interest rates rise.
Medical/Dental Claims – Increase from prior year is largely due to an increase in long‐term care costs ($74K) and an increase
in claim expenses for retiree medical services.
CONTACT INFORMATION
This report is prepared by the Finance Department. For additional financial information, please also review our website:
http://www.rentonwa.gov/. For any questions about the report, please feel free to contact Nate Malone at
nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .
2021 2022 2022 YTD
YTD ACTUAL ANNUAL BUDGET YTD ACTUAL PRIOR YEAR BUDGET % BUDGET
REVENUES:
Grants / intergovernmental 40,651$ 50,067$ 38,624$ (2,027)$ (11,443)$ 77.14%
Premiums 2,624,684 2,640,000 2,624,684 ‐ (15,316) 99.42%
Interest and other misc 167,996 20,000 377,478 209,482 357,478 1887.39%
TOTAL REVENUES 2,833,331 2,710,067 3,040,786 207,455 330,719 112.20%
EXPENSES:
Personnel 94,066 110,285 84,636 9,430 25,649 76.74%
Medical/Dental Claims 1,027,300 1,312,693 1,166,511 (139,211) 146,182 88.86%
Contracted Services 64,951 29,311 49,107 15,844 (19,796) 167.54%
TOTAL OPERATING EXPENSES 1,186,317 1,452,289 1,300,254 (113,937) 152,035 89.53%
AMOUNT AVAILABLE FOR DEBT SERVICE,
CAPITAL, AND TRANSFERS 1,647,014 1,257,778 1,740,532 93,518 482,754 138.38%
TOTAL DEBT SERVICE ‐ ‐ ‐ ‐ ‐ N/A
CAPITAL OUTLAY ‐ ‐ ‐ ‐ ‐ N/A
NET TRANSFERS ‐ ‐ ‐ ‐ ‐ N/A
CHANGE IN FUND BALANCE 1,647,014 1,257,778 1,740,532 93,518 482,754 138.38%
BEGINNING FUND BALANCE, Jan 1 16,541,245 18,188,260 18,188,260 1,647,015 ‐ 100.00%
ENDING FUND BALANCE, Dec 31 18,188,259$ 19,446,038$ 19,928,792$ 1,740,533$ 482,754$ 102.48%
Insurance Reserves 18,188,259 19,446,038 19,928,792
AVAILABLE FUND BALANCE ‐$ ‐$ ‐$
RETIREE HEALTHCARE
VARIANCE