HomeMy WebLinkAbout2015 CAFRRENTON CITY HALL // 1055 SOUTH GRADY WAY // RENTON, WA 98057 // RENTONWA.GOV
CITY OF RENTON
Comprehensive Annual Financial Report
FOR THE YEAR ENDED DECEMBER 31, 2015
i
CITY OF RENTON
2015
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended December 31, 2015
Administrative Services Department
City of Renton
1055 South Grady Way
Renton, Washington 98057
(425) 430‐6858
Website: www.rentonwa.gov
ii
ACKNOWLEDGEMENTS
Prepared by the Finance Division of the
Administrative Services Department
Administrative Services Administrator
Iwen Wang
Fiscal Services Director
Jamie Thomas
Accounting Staff
Misty Baker, Senior Finance Analyst
Jill Masunaga, Senior Finance Analyst
Hai Nguyen, Senior Finance Analyst
Kari Roller, Financial Services Manager
Kristi Rowland, Senior Finance Analyst
Tracy Schuld, Senior Finance Analyst
Print and Mail Coordinator
Karl Hurst
Web Specialist
Beth Haglund
TABLE OF CONTENTS
DECEMBER 31, 2015
ITEM PAGE
iii
INTRODUCTORY SECTION
Letter of Transmittal ..................................................................................................................................... 1‐1
2014 Comprehensive Annual Financial Report Award ................................................................................. 1‐6
Corporate Organization Structure & Reporting Relations ............................................................................ 1‐7
FINANCIAL SECTION
Independent Auditor’s Report .................................................................................................................... 2‐1
Management Discussion and Analysis ........................................................................................................ 3‐1
Basic Financial Statements:
Government‐wide Financial Statements:
Statement of Net Position ............................................................................................................... 4‐1
Statement of Activities .................................................................................................................... 4‐2
Fund Statements:
Governmental Fund Financial Statements:
Balance Sheet .................................................................................................................................. 4‐3
Reconciliation of Balance Sheet to the Statement of Net Position ................................................. 4‐4
Statement of Revenues, Expenditures and Changes in Fund Balances ........................................... 4‐5
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities .................................... 4‐6
Proprietary Fund Financial Statements:
Statement of Net Position ............................................................................................................... 4‐7
Statement of Revenues, Expenses, and Changes in Net Position ................................................... 4‐9
Statement of Cash Flows ............................................................................................................... 4‐10
Fiduciary Fund Statements:
Statement of Fiduciary Net Position ............................................................................................. 4‐12
Statement of Changes in Fiduciary Net Position ........................................................................... 4‐13
Notes to Financial Statements:
Note 1: Significant Accounting Policies ........................................................................................ 4‐14
Note 2: Compliance and Accountability ....................................................................................... 4‐26
Note 3: Deposits and Investments ............................................................................................... 4‐28
Note 4: Property Taxes ................................................................................................................. 4‐31
Note 5: Capital Assets and Depreciation ...................................................................................... 4‐32
Note 6: Pensions ........................................................................................................................... 4‐35
Note 7: Other Post Employment Benefits .................................................................................... 4‐48
Note 8: Contingencies .................................................................................................................. 4‐51
Note 9: Risk Management ............................................................................................................ 4‐51
Note 10: Interfund Transactions ................................................................................................... 4‐54
Note 11: Long Term Debt .............................................................................................................. 4‐56
Note 12: Joint Ventures ................................................................................................................. 4‐61
Note 13: Airport Leases ................................................................................................................. 4‐63
Note 14: Subsequent Events ......................................................................................................... 4‐64
Note 15: Prior Period Adjustment ................................................................................................. 4‐64
Required Supplementary Information Other than MD&A:
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget to Actual
General Fund .......................................................................................................................................... 5‐1
Schedule of the City’s Proportionate Share of the Net Pension Liability‐PERS Plan 1 .......................... 5‐2
Schedule of the City’s Proportionate Share of the Net Pension Liability‐PERS Plan 2/3 ....................... 5‐3
TABLE OF CONTENTS
DECEMBER 31, 2015
ITEM PAGE
iv
Schedule of the City’s Proportionate Share of the Net Pension Liability‐PSERS Plan 2 ......................... 5‐4
Schedule of the City’s Proportionate Share of the Net Pension Liability‐LEOFF Plan 1......................... 5‐5
Schedule of the City’s Proportionate Share of the Net Pension Liability‐LEOFF Plan 2......................... 5‐6
Schedule of Employer Contributions WA Department of Retirement Systems .................................... 5‐7
Firefighters’ Pension Fund ‐ Schedule of Changes in Net Pension Liability and Related Ratios ............ 5‐8
Firefighters’ Pension Fund ‐ Schedule of Contributions ........................................................................ 5‐9
LEOFF I Retiree Medical Benefits ‐ Schedule of Funding Progress………………………………. ................. ...5‐10
LEOFF I Retiree Medical Benefits ‐ Schedule of Employer Contributions………………………………. ....... ...5‐11
Combining Statements
Non‐Major Fund Descriptions ................................................................................................................ 6‐1
Combining Balance Sheet ...................................................................................................................... 6‐5
Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................. 6‐11
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget to Actual .................................................................................................................................. 6‐17
Combining Statement of Net Position, Non‐Major Enterprise Funds ................................................. 6‐28
Combining Statement of Revenues, Expenses and Changes in Fund Net Position,
Non‐Major Enterprise Funds ......................................................................................................... 6‐30
Statement of Cash Flows, Non‐Major Enterprise Funds ...................................................................... 6‐31
Combining Statement of Net Position, Internal Service Funds ............................................................ 6‐33
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position,
Internal Service Funds ................................................................................................................... 6‐35
Combining Statement of Cash Flows, Internal Service Funds .............................................................. 6‐36
Statement of Changes in Assets and Liabilities Agency Fund – Special Deposit ................................. 6‐38
STATISTICAL SECTION
Statistical Section Description ................................................................................................................ 7‐1
Financial Trends:
Table 1: Net Position by Component ................................................................................................. 7‐2
Table 2: Changes in Net Position ........................................................................................................ 7‐3
Table 3: Fund Balance of Governmental Funds ................................................................................. 7‐5
Table 4: Changes in Fund Balance of Governmental Funds ............................................................... 7‐6
Revenue Capacity:
Table 5: Water Utility Systems Revenue Information ........................................................................ 7‐7
Table 6: Principal Rate Payers ............................................................................................................ 7‐8
Table 7: Water Utility Rates ............................................................................................................. 7‐11
Table 8: General Government Tax Revenue by Source .................................................................... 7‐14
Table 9: Principal Property Tax Payers ............................................................................................. 7‐15
Table 10: Assessed Value of Taxable Property ................................................................................... 7‐16
Table 11: Property Tax Rates Direct and Overlapping Governments ................................................ 7‐17
Table 12: Property Tax Levies and Collections ................................................................................... 7‐18
Table 13: Sales Tax Collections by Sector ........................................................................................... 7‐19
Debt Capacity:
Table 14: Ratios of Outstanding Debt by Type ................................................................................... 7‐20
Table 15: Legal Debt Margin Information .......................................................................................... 7‐21
Table 16: Per Capita General Obligation Debt ................................................................................... 7‐22
Table 17: Direct and Overlapping Governmental Activities Debt ...................................................... 7‐23
Table 18: Pledged‐Revenue Coverage for Water and Sewer Revenue Bonds ................................... 7‐24
TABLE OF CONTENTS
DECEMBER 31, 2015
ITEM PAGE
v
Demographic and Economic Information:
Table 19: Demographic and Economic Statistics ................................................................................ 7‐25
Table 20: Principal Employers ............................................................................................................ 7‐26
Operating Information:
Table 21: Full Time Equivalent City Government Employees by Function ......................................... 7‐27
Table 22: Operating Indicators by Function ....................................................................................... 7‐28
Table 23: Utility Systems Supplemental Operating Information ....................................................... 7‐29
Table 24: Capital Assets Statistics by Function ................................................................................... 7‐30
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Introduction, 1‐1
s
June 24, 2016
Honorable Denis Law, Mayor
Members of the Renton City Council
Residents of Renton
City of Renton, Washington
Mr. Mayor, Honorable Councilmembers, and Citizens of Renton:
We are pleased to present the City’s Comprehensive Annual Financial Report for the year ended December 31,
2015. The City maintains a system of internal controls designed to provide reasonable assurance that assets
are safeguarded against loss or unauthorized use, and that financial records can be relied upon to produce
accurate and fairly represented financial statements in accordance with generally accepted accounting
principles.
Management assumes full responsibility for the completeness and reliability of the information contained in
this report. To the best of our knowledge and belief, the enclosed financial statements and all supporting
schedules are accurate in all material respects and are reported in a manner designed to present fairly the
financial position and results of operations of the City. The concept of reasonable assurance recognizes that
the cost of a control should not exceed the benefits likely to be derived, and the evaluation of the relative
costs and benefits of the control system requires estimates and judgments by management.
These financial statements have been audited by the Washington State Auditor’s Office. This independent
audit was conducted in accordance with generally accepted auditing standards and generally accepted
government auditing standards to provide an independent assessment of fair presentation of the City’s
financial position. The State Auditor’s Office has issued an unqualified (“clean”) opinion on the City’s financial
statements, which is included at the front of the financial statement section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the State Auditor’s report and provides a
narrative introduction, overview, and analysis to accompany the basic financial statements. This letter of
transmittal is designed to complement the MD&A and should be read in conjunction with it.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐2
PROFILE OF THE CITY
Incorporated on September 6, 1901, Renton is a city in King County, Washington. Situated 11 miles southeast
of downtown Seattle, 5 miles from SeaTac Airport, Renton straddles the southeast shore of Lake Washington,
at the junction of key north‐south and east‐west transportation corridors. The City’s early economy was based
on coal mining, clay production, and timber export. Today, Renton is best known as the final assembly point
for the Boeing 737 family of commercial airplanes, but it is also home to a growing number of well‐known
manufacturing, technology, health care service companies and government institutions, including Boeing,
Paccar, Wizards of the Coast gaming, Ikea Home Furnishing, Valley Medical Center, Providence Health &
Services, The Seattle Seahawks headquarters, Seattle Branch of Federal Reserve Bank, and FAA Northwest
Regional office.
The City of Renton has a strong mayor form of government with an appointed Chief Administrative Officer.
The Mayor is independently elected to a four‐year term. The Mayor’s job is to manage day‐to‐day operations,
and to lead policy development and implementation with the seven‐member City Council elected at large on a
non‐partisan basis.
With a population of 98,470 in 2015, Renton is the 8th largest city in the state, and the 4th largest in King
County. The City provides a full range of municipal services to an incorporated area of 24.03 square miles.
These services include police, fire, street construction and maintenance, planning and zoning, parks and
recreation, municipal court, and general administrative services.
The City operates four utilities: water, sewer, surface water, and solid waste. These are operated very similar
to a private business where the revenues from rates and other direct sources must pay for the operational,
capital, and long‐term debt costs. The City has its own water supplies and does not rely on purchased water
to meet normal service demands. The City’s sewage is treated by King County, but the City is responsible for
transferring and maintaining the system to King County. The City bills Renton residents a monthly fee for the
cost of sewer treatment performed by King County.
The City operates the Maplewood Golf Course, which collects green fees, driving range fees, revenue from the
restaurant vendor, and other miscellaneous revenue. The golf course has short‐term operational costs and an
active capital maintenance program.
The Renton Municipal Airport is used by small private plane operators, a floatplane company, and Boeing
initiates its maiden 737 flights from this airport. The operational costs of the airport are paid from hangar
rentals and tie‐down fees. Major capital projects are paid by fees or with Federal Aviation Administration
grants.
Since the 2011‐12 biennium, the City has adopted a biennial budget. The Council is required to adopt an initial
budget for the biennium no later than December 31 preceding the beginning of the fiscal year on January 1.
The City of Renton maintains budgetary controls to ensure compliance with legal provisions embodied in the
budget. All activities are appropriated through the budget process and published in the City’s Budget
document. The City Council must adopt an ordinance to increase or decrease total appropriations in a Fund.
The Mayor has the authority to move appropriations within a Fund.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐3
A more thorough discussion of the City’s accounting policies can be found under the Summary of Significant
Accounting Policies in the Notes to the Financial Statements.
ECONOMIC CONDITION AND OUTLOOK
Renton’s economy continues to recover at a steady pace. In terms of employment, the Puget Sound region
has outpaced national results in 2015 with an overall unemployment rate of 4.1%. Based on City business
license records, City of Renton employment has added 3,367 jobs over the last three years (a 7 percent
increase since 2012). Employment growth is largely attributable to Boeing’s production ramp‐up of 737 from
35 to 42 planes per month during 2012‐2014. As expected, there was slower job growth in 2015 now that
Boeing has completed its employment ramp‐up (3.7 percent job growth). Employment in Renton is expected
to continue to have steady growth of 1.1‐2.4 percent, through 2020, related to various industries within
Renton.
The City of Renton is following the regional trend of a strong recovery in the housing sector, with assessed
value increasing 12.8% for existing homes in 2015. Residential building permits are expected to remain steady
at 365 new units per year through 2020, leading to an expected annual population growth of 1.6 percent.
The City of Renton saw strong sales and retail tax revenue growth in 2015 with taxable sales 9.0% over 2014.
Although the construction sector has not recovered to the high of 2008, it was the main driver of overall sales
and retail tax growth in 2015, with a 30.4 percent in 2015 over 2014. The services and automotive sector also
remain strong at 12 percent growth, each, in 2015.
The Seattle Seahawks’ headquarters/training facility is located within the City and is the second‐largest facility
in the NFL at 200,000 square feet, located along the waterfront of Lake Washington. The training facility sits 3
miles north of The Landing, a shopping center that was fully completed in early 2010. Currently, the shopping
center occupancy is at 97% and approximately $1.1 million in sales tax was generated from The Landing in
2015, a 69% increase over 2010.
Perhaps the most significant economic impact for the City is the wide diversity of development activity and
private investment that is currently taking place within the City. In the South Lake Washington area, just north
of The Landing, a $100 million investment to build three new hotels (combined 600 rooms and 736,000 square
feet of Class A office space). Completion on two hotels is estimated for late 2016 and completion on the third
is expected in early 2017. In the City’s industrial/commercial core a work is underway for a $51 million retail
space expansion of a currently existing retailer; a $30 million warehouse expansion of an existing distribution
center; and a new $28.5 million headquarter facility (200,000 square feet) for a health care services employer
new to Renton (approximately 1,000 new jobs).
Overall, the economic outlook for Renton remains strong for 2016 and beyond; a continuing increase in
housing permits, a lower unemployment rate, and large‐scale capital investments within the City will support a
healthy growth in taxable retail sales and an attractive center for healthcare, retail, and manufacturing.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐4
LONG‐TERM FINANCIAL PLANNING
Unrestricted fund balance (the aggregate of committed, assigned, and unassigned components of fund
balance) in the general fund was 21 percent of the total general fund expenditures, compared to 13 percent
in 2010. In addition to unrestricted fund balance in the general fund, the City Council has accumulated fund
balances of $6.8 million for catastrophic reserves and $4.8 million for anti‐recessionary reserves in the City’s
Insurance Fund.
The ramp‐up of these fund balances was a direct result of an enhanced stabilization fund policy, which was
originally adopted in late‐2013. During the great recession the City depleted much of its reserves and although
several economic factors are improving, the City still faces several short and long‐term constraints. The rate of
healthcare and salary costs and deferred maintenance on City buildings continue to increase at a faster rate
than revenues. In addition, the 10‐year sales tax annexation credit will sunset in mid‐2018, which currently
provides approximately $2.4 million in sales tax revenue to the general fund. The enhanced stabilization fund
policy will help the City bridge the ever increasing gap between operating expenditures and revenues.
As part of the enhancements to the City’s stabilization policy, the Council also adopted a reserve fund for
Economic Development, which currently has accumulated a $1.0 million balance. The reserve fund will help
the City leverage Local Revitalization Financing (LRF) funds made available by the State of Washington. The
LRF program can make available up to $500,000 to be spent on “revitalization areas”, but the funding requires
a local match, which is why the Council has created a reserve fund. In the long‐term, the LRF program will
help spur sustainable economic activity in an area that currently lags behind the rest of the City.
As part of the 2015‐2016 biennial budget, the City Council adopted a Business and Occupation (B&O) Tax,
effective January 1, 2016. The B&O tax was structured in a way to minimize the impact to the business
community, while at the same time generating enough sustainable revenue for funding General Fund
operations into the future, without significant decreases to basic City services. It’s estimated the B&O tax will
generate $3.8 million in additional general fund revenue for 2016 and nearly $6 million by 2018.
The City has been very responsible and responsive in balancing the services the community needs with the
changing mixture and level of resources. In addition to strong financial policies, the City has also continued to
expand its economy and pursue progressive economic development strategies to maintain a thriving and
sustainable economy.
RELEVANT FINANCIAL POLICIES
The City has adopted a comprehensive set of financial policies. In 2013 the City Council made amendments to
its policies to enhance its stabilization policy and begin ramping up reserves for future general fund funding
gaps, long‐term economic development initiatives, capital commitments, equipment reserves, catastrophic
and anti‐recessionary reserves, and general operating cash flow requirements.
Due to strong financial policies and management, the City of Renton has maintained a LTGO bond rating of
AA+ (reaffirmed by both Fitch and Standard and Poor’s in early 2015), and a AA+ revenue bond rating from
Fitch Ratings (July 2014).
2015 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐5
OTHER INFORMATION
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate
of Achievement for Excellence in Financial Reporting to the City of Renton for its comprehensive annual
financial report for the fiscal year ended December 31, 2014. The City has a long history of achieving this
prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily
readable and efficiently organized comprehensive annual financial report. This report must satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive
annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are
submitting it to the GFOA to determine its eligibility for another certificate.
The dedicated staff of the Finance Division work hard each day to ensure that the City’s financial transactions
are processed accurately and records are maintained orderly and in conformance with policies and
procedures. Special thanks are due to Misty Baker, Senior Financial Analyst, who served as the CAFR project
lead. Further appreciation is extended to the City Council and City Management for their support in conducing
financial operations of the City in a sound and progressive manner, and in conformance with internal and
external requirements.
For more information regarding the City’s budget please refer to the city’s website for 2015‐2016 adopted
budget as well as monthly sales tax and budgetary financial reports.
Respectfully,
Jamie Thomas
Fiscal Services Director
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ADMINISTRATIVE SERVICES
Iwen Wang, Administrator
425‐430‐6858
RENTON CITIZENS
MAYOR
Denis Law
425‐430‐6500
MUNICIPAL COURT JUDGE
Terry Jurado
425‐430‐6550
CITY COUNCIL
Randy Corman, President
Don Persson, Armondo Pavone, Ruth
Perez, Carol Ann Witschi, Ryan
McIrvin
425‐430‐6500
CHIEF ADMINISTRATIVEOFFICER
Jay Covington
425‐430‐6500
COMMUNITY SERVICES
Kelly Beymer, Administrator
425‐430‐6600
PUBLIC WORKS
Gregg Zimmerman, Administrator
425‐430‐7394
EXECUTIVE
COMMUNITY AND ECONOMIC
DEVELOPMENT
Chip Vincent, Administrator
425‐430‐6580
POLICE
Kevin Milosevich, Chief
425‐430‐7503
FIRE AND EMERGENCY SERVICES
Mark Peterson, Chief/Administrator
425‐430‐7051
HUMAN RESOURCES & RISK
MANAGEMENT
Ellen Bradley‐Mak, Administrator
425‐430‐7650
Facilities
Michael Kirk, Director
Renton History Museum
Elizabeth Stewart, Manager
Neighborhoods, Resources,
and Events
Casey Stanley, Manager
Maintenance Services
Michael Stenhouse, Director
Utility Systems
Lys Hornsby, Director
Transportation Systems
Doug Jacobson, Deputy PW
Administrator
Economic Development
Cliff Long, Director
Development Services
VACANT, Director
Planning
Mayor's Office
City Clerk / Cable Manager
Jason Seth, City Clerk
Communications
Preeti Shridhar, Deputy Public
Affairs Administrator
Support Operations Bureau
Field Operations Bureau
Response Operations
Erik Wallgren, Deputy Fire Chief
Safety and Support Services
Chad Michael, Deputy Fire Chief
Community Risk Reduction
Anjela St. John, Fire Marshal
Emergency Management
Deborah Needham, Director
Human Resources
VACANT, Manager
Risk Management
Gary Lamb, Manager
Benefits
Maria Boggs, Manager
Finance
Jamie Thomas, Director
Information Technology
Mehdi Sadri, Director
Staff Services
Special Operations
Investigations
Administrative
Services
Patrol Services
Patrol Operations
CITY ATTORNEY
Larry Warren, Administrator
425‐255‐8678
Parks & Golf Course
Cailin Hunsaker, Director
Human Services
Karen Bergsvik, Manager
Parks Planning & Natural
Resources
Leslie Betlach, Director
Recreation
VACANT, Director Jennifer Henning, Director
Airport
Jonathon Wilson, Manager
2015 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐8
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INDEPE NDENT AUDITOR’S REPO RT ON FINAN C I AL STATEMENTS
June 24, 2016
Mayor and City Council
City of Renton
Renton, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund and the aggregate remaining fund information of the City of Renton, King
County, Washington, as of and for the year ended December 31, 2015, and the related notes to the
financial statements, which collectively comprise the City’s basic financial statements as listed in the
table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the City’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
Washington State Auditor’s Office
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, each major fund
and the aggregate remaining fund information of the City of Renton, King County, Washington, as of
December 31, 2015, and the respective changes in financial position and, where applicable, cash flows
thereof for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
Matters of Emphasis
As described in Note 1, during the year ended December 31, 2015, the City has implemented the
Governmental Accounting Standards Board Statement No. 68, Accounting and Financial Reporting for
Pensions – an amendment of GASB Statement No. 27 and Statement No. 71, Pension Transition for
Contributions Made Subsequent to the Measurement Date - an amendment of GASB Statement No. 68.
Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis on pages 3-1 through 3-11, budgetary comparison information on page 5-1,
pension plan information on pages 5-2 through 5-9 and information on postemployment benefits other
than pensions on pages 5-10 through 5-11 be presented to supplement the basic financial statements.
Such information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The accompanying information listed as combining
statements on pages 6-1 through 6-38 is presented for purposes of additional analysis and is not a required
part of the basic financial statements. Such information is the responsibility of management and was
derived from and relates directly to the underlying accounting and other records used to prepare the
financial statements. This information has been subjected to auditing procedures applied in the audit of
the basic financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the financial
statements or to the financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion, the information is
fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
The information identified in the table of contents as the Introductory and Statistical Sections is presented
for purposes of additional analysis and is not a required part of the basic financial statements of the City.
Such information has not been subjected to the auditing procedures applied in the audit of the basic
financial statements and, accordingly, we do not express an opinion or provide any assurance on it.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS
In accordance with Government Auditing Standards, we will also issue our report dated June 24, 2016, on
our consideration of the City’s internal control over financial reporting and on our tests of its compliance
with certain provisions of laws, regulations, contracts and grant agreements and other matters. That
report will be issued under separate cover in the City’s Single Audit Report. The purpose of that report is
to describe the scope of our testing of internal control over financial reporting and compliance and the
results of that testing, and not to provide an opinion on internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the City’s internal control over financial reporting and compliance.
Sincerely,
TROY KELLEY
STATE AUDITOR
OLYMPIA, WA
2015 Comprehensive Annual Financial Report City of Renton, Washington
Auditor’s Report, 2‐4
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2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐1
MANAGEMENT’S DISCUSSION AND ANALYSIS
The City of Renton’s management offers this Management’s Discussion and Analysis (MD&A), which is an
overview and analysis of the City of Renton’s financial activities for the year ended December 31, 2015. To
best understand the City’s financial activities, we encourage readers to consider the information in this
discussion and analysis in conjunction with information provided in the letter of transmittal and the basic
financial statements.
FINANCIAL HIGHLIGHTS
• As of December 31, 2015, the City of Renton’s total assets and deferred outflows of resources exceed
liabilities and deferred inflows of resources by $870 million. Of this amount, $102 million represents
unrestricted net position, which may be used the meet the government’s ongoing obligations to
citizens and creditors.
• The City of Renton’s total net position increased $56 million, due to accumulation of reserves, capital
asset acquisitions, and the reduction of long‐term debt in both the governmental and business‐type
activities. This increase was offset by a $20 million adjustment to beginning net position, as a result of
the GASB 68 implementation.
• At the close of the current fiscal year, the City of Renton’s governmental funds reported combined
fund balances of $49 million, a decrease of $1.5 million from 2014. This decrease is due almost
entirely to the nearing completion of the two new libraries. The $5.6 million decrease in the Municipal
CIP Fund was offset by $1.7 million increase in the General Fund and a $2.4 million increase in Other
Governmental Funds.
• Approximately 41% ($20 million) of the total governmental fund balance is available for spending at
the City’s discretion (unassigned fund balance).
• Total unrestricted fund balance (the total of committed, assigned and unassigned fund balance
components) for the general fund was $21.6 million, which is approximately 21 percent of general
fund 2015 expenditures.
• The City of Renton’s total outstanding long‐term debt decreased by $7.4 million during the current
fiscal year because current resources and grants are being used to finance current operations and
capital projects. The City has continued to pay down its current debt obligations without issuance of
new debt.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis provided here are intended to serve as an introduction to the City’s basic financial
statements. The basic financial statements consist of three components: (1) government‐wide financial
statements, (2) fund financial statements, and (3) notes to the basic financial statements.
Government‐wide Financial Statements
The government‐wide financial statements provide both long‐term and short‐term information about the
City’s overall financial status, in a manner similar to a private‐sector business.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐2
Statement of Net Position – The first of these government‐wide statements is the statement of net position.
The statement of net position presents the City’s assets, liabilities, and deferred inflows/outflows of
resources, with the difference reported as net position. Over time, increases or decreases in net position may
serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
Statement of Activities – The second government‐wide statement is the statement of activities, which reports
how the City’s net position changed during the current fiscal year. All changes in net position are reported as
soon as the underlying event giving rise to the change, regardless of the timing of related cash flows. Thus,
revenues and expenses are reported for some items that will only result in cash flows in future fiscal periods
(ex. uncollected taxes and compensated absences). An important purpose of the design of the statement of
activities is to show the financial reliance of the City’s distinct activities or functions on revenues provided by
the City’s taxpayers. Another indicator to consider when evaluating the financial position of the City includes
changes to the property tax base, general economic conditions as demonstrated through business licenses
fees or sales tax revenue, and the condition of the City’s infrastructure (roads, drainage systems, bridges, and
water infrastructure).
Both of the government‐wide financial statements distinguish governmental activities of the City (activities
principally supported by taxes and intergovernmental revenue), and business‐type activities of the City
(activities that are intended to recover all, or a significant portion, of their costs through user fees and
charges). Governmental activities include general government, judicial, public safety, utilities, transportation,
economic environment, health and human services, and culture and recreation. The equipment rental and
insurance internal service funds are also reported as governmental activities. The business‐type activities
include the waterworks utility, solid waste, airport, and golf course funds. The government‐wide financial
statements can be found on page 4‐1 and 4‐2 of this report.
Fund Financial Statements
The City uses fund structure to ensure and demonstrate fiscal integrity and compliance with finance‐related
legal requirements. A fund is a group of related accounts used to maintain control over resources that have
been segregated for specific activities and objectives. There are three types of funds: governmental,
proprietary, and fiduciary. The fund financial statements focus on major funds separately while all others are
combined into a single aggregated presentation. Individual data for non‐major funds is presented in a
following section, Combining Statements.
Governmental Funds – The governmental funds are used to account for the same functions reported as
governmental activities in the government‐wide financial statements. However, unlike the government‐wide
statements, the focus of governmental fund financial statements is on near‐term inflows and outflows of
available financial resources and on balances of resources available at the end of the fiscal year. Such
information is useful in evaluating whether there are more or less financial resources that can used in the
near future to finance City services.
Because the focus of governmental fund financial statements is a narrower view than that of the government‐
wide financial statements, it is useful to compare similar information in order to gain a better understanding
of the long‐term impact of the government’s near‐term financing decisions. The Reconciliation of the Balance
Sheet and Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund reconciles to the
differences between the governmental fund statements and the governmental activities column in the
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐3
government‐wide statements.
The City maintains thirteen individual governmental funds. Information for the City’s major governmental
funds (general and municipal facilities CIP) are presented separately in the governmental fund balance sheet
and the governmental fund statement of revenues, expenditures, and changes in fund balance. Data from the
other eleven funds are combined into are combined into a single aggregated presentation. Individual fund
data for each of these non‐major governmental funds is presented in the combining statements section of this
report.
The City maintains budgetary controls over its governmental funds. Budgetary controls ensure compliance
with legal provisions embodied in the annual appropriated budget. Governmental fund budgets are
established in accordance with state law and are adopted on a fund level. A budgetary comparison statement
has been provided for the general fund to demonstrate compliance with this budget. The basic governmental
fund financial statements can be found on pages 4‐3 and 4‐5 of this report.
Proprietary Funds – The proprietary fund statements present information for two types of funds. Enterprise
funds operate as business‐type activates in the government‐wide statements and include the waterworks
utility, solid waste, golf course, and airport funds. The other proprietary fund types are internal service funds.
Internal service funds are used to report activities that provide supplies and services to various City
departments and to allocate the associated costs of providing these services to the various governmental and
enterprise functions. The revenues and expenses of internal service funds that support governmental
activities are eliminated in the government‐wide statements and the remaining activity is combined within
the governmental activities in the government‐wide statements.
The proprietary fund statements provide the same information as the government‐wide financial statements,
only in more detail. The City reports the activity of its two major enterprise funds, waterworks utility (water,
wastewater, and storm water) and solid waste separately. Information from the remaining non‐major
enterprise funds are combined and presented in a single, aggregated column in the fund statements. Internal
service funds are also aggregated and reported separately in this section. The basic proprietary fund financial
statements can be found on pages 4‐7 through 4‐11 of this report.
Fiduciary Funds – Fiduciary Funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are not reported in the government‐wide financial statements because the
resources of those funds are not available to support the City’s own operations. The accounting used for
fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statements can be
found on pages 4‐12 and 4‐13 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the information provided
and are an integral part of the government‐wide and fund financial statements. The notes to the financial
statements can be found pages 4‐14 through 4‐64 of this report.
Other information
In addition to the basic finance statements and accompanying notes, this report also presents:
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐4
1. Required Supplemental Information (RSI)
RSI provides budgetary comparisons for the general fund as well as the City’s funding progress for the
Firefighters’ Pension Trust Fund and Other Post‐Employment Benefits (LEOFF 1 Retiree Medical). RSI can
be found on page 5‐1 through 5‐11 of this report.
2. Combining Statements
The combining statements provide additional detail for other government funds, internal service funds,
and fiduciary funds. Combining and individual fund statements and schedules can be found on page 6‐1
through 6‐38 of this report.
3. Statistical Information
This section includes unaudited trends and demographic information. The statistical section can be found
on page 7‐1 through 7‐30 of this report.
GOVERNMENT‐WIDE FINANCIAL ANALYSIS
Statement of Net Position
The following is a summary of the City’s net position as of December 31, 2015, with comparison to 2014:
2015 2014 2015 2014 2015 2014
Current assets 103,844,702$ 102,771,005$ 64,451,824$ 49,158,273$ 168,296,526$ 151,929,278$
Capital assets 507,238,591 489,713,377 301,440,771 288,260,108 808,679,362 777,973,485
Other non‐current assets 54,357,626 42,299,143 58,925 68,032 54,416,551 42,367,175
TOTAL ASSETS 665,440,919 634,783,525 365,951,520 337,486,413 1,031,392,439 972,269,938
Deferred Outflows of Resources 5,467,360 313,863 1,537,142 935,723 7,004,502 1,249,586
Long‐term liabilities 105,387,530 86,909,577 37,623,881 34,252,057 143,011,411 121,161,634
Other liabilities 13,939,868 14,802,932 3,740,725 3,687,697 17,680,593 18,490,629
TOTAL LIABILITIES 119,327,398 101,712,509 41,364,606 37,939,754 160,692,004 139,652,263
Deferred Inflows of Resources 6,780,859 ‐ 867,175 ‐ 7,648,034 ‐
NET POSITION:
467,609,532 457,337,430 271,016,825 255,631,135 738,626,357 712,968,565
Restricted 26,987,147 18,973,294 2,909,578 2,909,578 29,896,725 21,882,872
Unrestricted 50,203,343 57,074,155 51,330,478 41,941,669 101,533,821 99,015,824
TOTAL NET POSITION 544,800,022$ 533,384,879$ 325,256,881$ 300,482,382$ 870,056,903$ 833,867,261$
Net Investment in Capital Assets
Governmental Activities Business‐type Activities
CONDENSED STATEMENT OF NET POSITION
Total
As noted earlier, the change in net position over time, may serve as a useful indicator of a government’s
financial situation. At the close of the most recent fiscal year, assets and deferred outflows of resources
exceeded liabilities and deferred inflows of resources by $870 million.
As of December 31, 2015, the City’s overall financial net position was $870 million, a $36 million increase over
2014. $739 million (85%) of total net position increase reflects the City’s investment in capital, net of related
debt that was used to acquire those assets. The City uses these assets to provide a variety of services to
citizens. Accordingly, these assets are not available for future spending. Although investment in capital assets
are reported net of related debt, it should be noted that the resources used to repay this debt must be
provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Total restricted net position accounts for $30 million of the City’s net position, which is an $8 million increase
(37%) over 2014. This entire increase is a result of the City’s adoption of GASB 68 and 71, which now requires
the presentation of the City’s net pension asset, which totals $19 million. The increase in restricted net
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐5
position due to the addition of net pension asset was offset by the 2015 spending of $12 million in bond
proceeds for new library construction. In 2014, these unspent bond proceeds were restricted. The remaining
$101 million of net position is unrestricted may be used to meet the government’s ongoing obligations for
governmental and business type activities ($50 million and $51 million, respectively).
At the end of the current fiscal year, the City reports a positive net position in all net position categories, for
both governmental activities and business‐type activities. The same held true for the prior fiscal year.
Further, all categories of net position increased in the current fiscal year. The following is a comparison
summary of the City’s net position at fiscal year end.
Statement of Activities and Change in Net Position
Citywide revenue increased by $17.8 million, or 8%. Most which is attributed to an increase in capital grants
and contributions. Due to increased developer activity, the City had a $13.7 million increase in developer
contributed capital. The remaining increase comes from a general governmental taxes – most notably a $2
million increase in retail sales tax, $2 million increase in business taxes (a direct result of city‐contracted utility
tax audits), and a $1 million increase in excise tax.
Combined citywide service expenses totaled $179 million for 2015, a $5.8 million increase from 2014.
Governmental activities increased by $3.4 million (or 3%) while business activities increased by $2.4 million
(or 2%). The increases in both governmental and business‐type activities is related to general increase in
operating costs, which are most significantly impacted by incremental increases in employee salary and
benefit costs.
The resulting change in net position was an increase in 2015 by $56 million: $25 million from governmental
activities and $31 million from business‐type activities. These increases were offset by adjustments due to
changes in accounting principal (GASB 68) and the net increases were $11 million and $25 million for
governmental activities and business type activities, respectively.
The following is a condensed summary statement of activities and change in net position as of December 31,
2015, with comparison to 2014.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐6
CONDENSED STATEMENT OF ACTIVITIES
2015 2014 2015 2014 2015 2014
Revenues:
Program revenues:
Charges for services 27,304,155$ 24,243,954$ 75,326,914$ 73,445,602$ 102,631,069$ 97,689,556$
Operating grants and contributions 6,614,030 6,422,816 704,367 1,108,920 7,318,397 7,531,736
Capital grants and contributions 8,658,075 11,640,501 23,291,274 12,531,671 31,949,349 24,172,172
Taxes and other general revenues:‐
Property taxes 35,418,323 35,112,669 ‐ ‐ 35,418,323 35,112,669
Sales taxes 29,567,506 27,223,521 ‐ ‐ 29,567,506 27,223,521
Other Taxes 26,297,852 23,170,890 ‐ ‐ 26,297,852 23,170,890
Other general revenue 1,900,565 1,699,802 (438,189) 221,261 1,462,376 1,921,063
Total revenues 135,760,506 129,514,153 98,884,366 87,307,454 234,644,872 216,821,607
Expenses:
General government 9,829,338 10,730,427 ‐ ‐ 9,829,338 10,730,427
Judicial 2,342,557 2,406,797 ‐ ‐ 2,342,557 2,406,797
Public safety 57,863,131 55,143,750 ‐ ‐ 57,863,131 55,143,750
Utilities 694,469 746,363 ‐ ‐ 694,469 746,363
Transportation 15,918,953 14,641,476 ‐ ‐ 15,918,953 14,641,476
Economic and natural environment 7,362,822 6,584,984 ‐ ‐ 7,362,822 6,584,984
Health and human services 1,925,253 1,885,761 ‐ ‐ 1,925,253 1,885,761
Culture and recreation 13,636,384 12,338,932 ‐ ‐ 13,636,384 12,338,932
Interest on long‐term debt 1,247,934 2,932,298 ‐ ‐ 1,247,934 2,932,298
Waterworks utility ‐ ‐ 44,983,542 43,274,617 44,983,542 43,274,617
Airport ‐ ‐ 3,818,201 2,771,616 3,818,201 2,771,616
Solid waste utility ‐ ‐ 16,907,652 17,157,550 16,907,652 17,157,550
Golf course ‐ ‐ 2,200,740 2,298,804 2,200,740 2,298,804
Total expenses 110,820,841 107,410,788 67,910,135 65,502,587 178,730,976 172,913,375
Increase in net position before transfers 24,939,665 22,103,365 30,974,231 21,804,867 55,913,896 43,908,232
Transfers 131,491 449,362 (131,491) (449,362) ‐ ‐
Increase in net position 25,071,156 22,552,727 30,842,740 21,355,505 55,913,896 43,908,232
Net position ‐ beginning 533,384,879 510,832,152 300,482,382 279,126,877 833,867,261 789,959,029
Change in Accounting Principles (13,656,013) ‐ (6,068,241) ‐ (19,724,254) ‐
Net position ‐ ending 544,800,022$ 533,384,879$ 325,256,881$ 300,482,382$ 870,056,903$ 833,867,261$
Governmental Activities Business‐type Activities Total
Governmental Activities Analysis
Governmental activities cost a total of $110.8 million in 2015 against program generated revenue (excluding
taxes and other general revenue) of $42.5 million. Program revenues support 38 percent of the governmental
program costs, while the remaining 62 percent of governmental program costs are supported by general
revenues (taxes and other general revenue). Compared to 2014, governmental activities cost $107.4 million
($3.4 million increase) and program revenues totaled $42.3 million ($200 thousand increase).
Chart 1 portrays the extent that the cost of each of the City’s governmental programs is supported by its own
program generated revenue (fees, intergovernmental revenues, and contributions specifically related to that
program). Public safety accounts for 53 percent of the total governmental activity costs, but generates the
lowest percentage of program revenues compared to any other program (18 percent). Conversely, judicial
recovered all of their costs in 2015 through program revenues, which consist of traffic citations, parking
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐7
citations, criminal charges, miscellaneous court fees, and red light camera fees.
Chart 2 depicts the source breakdown for all revenues that fund governmental activities.
Approximately sixty seven percent of the total governmental activity revenues come from taxes. The City’s
largest governmental revenue source is property tax (26 percent) and second largest source is retail sales tax
(22 percent). Other general revenue sources accounts for 19 percent of the City’s general governmental
revenue (includes business license fees, excise tax, interest, and miscellaneous revenue). While program
specific charges for services, grants and contributions generate thirty three percent of total revenue for
general governmental activities. As a result, the general economy have a major impact on the City’s revenue
streams.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐8
Business‐Type Activities Analysis
Since the primary source of revenue for business‐type activities is user fees and charges, there is much less
disparity between program costs and related program revenue. Chart 3 shows the expense of each of the
City’s business‐type program along with each programs’ revenue (fees and intergovernmental revenues
specifically related to that program).
The Waterworks Utility generated $53
million in fees for services, while
operating and debt service costs were
$45 million. In addition, the
waterworks utility received $22 million
in grants, contributions, and capital
contributions from developers, for a
combined increase in net position of
$30 million. The operating balance is
necessary for future planned system
infrastructure replacements, repairs,
and enhancements. Compared to
2014, the waterworks utility collected
$51 million in operating revenue ($2
million increase) and costs were $43
million ($2 million increase).
The Solid Waste Utility generated $17.3 million in total revenue and incurred $16.9 million in program
expenses, resulting in a positive increase in net position of $0.4 million.
The Airport generated a total of $2.6 million in revenue
from charges for services and $3.8 million in expenses
2015. In addition, the airport collected $1.9 million in
revenue from grants and contributions, which resulted in
a $.7 million increase in net position.
The Golf Course generated a total of $2.3 million in green
fees, driving range charges, and other user fees. The
total expenses for the Golf Course were $2.2 million. The
Golf Course had an operating gain of $102,000 for the
year. The golf course’s operating position improved for
the first time in 2015 over prior years, mainly due to the
final pay‐off of long term debt.
Chart 4 illustrates the source of revenue for Business‐type activities; which are supported primarily from
charges for services. Charges for services generated $75 million, or 76 percent, of the total revenue sources,
while grant revenue and contributions generated 24 percent of the total revenue sources. This is a $1.9
million (2.6 percent) increase in charges for services and a $10 million (76 percent) increase in grants and
contributions from 2014. As mentioned earlier, the large increase in grants and contributions is related the
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐9
large amount of developer contributed capital the City received, as a result of increased development activity.
FUND FINANCIAL ANALYSIS
Governmental Funds
The governmental fund statements provide information on near‐term inflows, outflows, and balances of
spendable resources. Such information is useful in assessing the City’s ability to meet financing requirements
in the near term. In particular, unassigned fund balance may serve as a useful measure of a government’s net
resources available for spending at the end of the fiscal year.
General Fund – At the end of the fiscal year, the City had a fund balance of $21.7 million, which is an increase
of $1.7 million from 2014. The increase is due to general economic improvements, which have provided
moderate increases over 2014 in taxes (up 10.5 percent), permitting and licensing revenue (up 12.8 percent),
and charges for services (up 13.2 percent). Overall, general fund revenues increased $10 million (10 percent)
over 2014.
The Municipal Facilities Capital Improvement Project (CIP) Fund – includes the library development funds as
well as general governmental capital facilities fund. Overall revenue increased $325,000 (9 percent) over 2014
and this was attributed to more real estate excise tax collections by the City in this fund and the collection of
FEMA grant funds. Of the $14.4 million fund balance; $565,000 is restricted, unspent real estate excise taxes,
and King County parks levy funds; $13.4 million is committed to capital parks, library, and facilities projects;
and the remaining $494,000 is assigned for general capital purposes.
Proprietary Funds
The proprietary fund financial statements provide the same type of information found in the government‐
wide financial statements, but in more detail. The analysis for the proprietary funds is found within the
business‐type activities analysis and discussion above. The proprietary fund statements also include a column
for internal services fund activities in aggregate. These activities are consolidated with general governmental
activities in the government‐wide statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
The City uses a biennial budget process that adopts two one‐year budgets at one time. 2015 was the first
year of the 2015‐16 biennium. The original 2015 general fund adopted budget was $107 million and the final
adjusted budget was $116 million. The increase was a combination of several items: $1.3 million transferred
into the risk management fund to enhance the City’s stabilization funds, $3.75 million transferred to the
municipal facilities fund to help acquire additional park land, and $800 thousand transferred to the capital
improvement fund for the Sunset Lane project.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐10
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City of Renton’s investment in capital assets, including construction in progress and net of accumulated
depreciation, for governmental and business‐type activities amounts to $809 million as of December 31, 2015,
compared to $778 million in 2014.
CAPITAL ASSETS
(Net of Depreciation/Amortization)
2015 2014 2015 2014 2015 2014
Land and Land Improvements 204,852,858$ 203,649,159$ 6,150,056$ 6,163,466$ 211,002,914$ 209,812,625$
Buildings and Structures 56,334,942 57,471,519 9,823,177 10,268,098 66,158,119 67,739,617
Infrastructure 176,956,421 175,799,722 270,753,625 249,703,078 447,710,046 425,502,800
Machinery and Equipment 11,812,573 10,442,765 924,521 619,902 12,737,094 11,062,667
Intangible Assets 552,271 511,489 1,134,803 1,184,455 1,687,074 1,695,944
Construction in Progress 56,729,526 42,935,474 12,654,589 20,321,109 69,384,115 63,256,583
Total 507,238,591$ 490,810,128$ 301,440,771$ 288,260,108$ 808,679,362$ 779,070,236$
Governmental Activities Business‐Type Activities Total
The increase of $30 million in 2015 is mostly attributed to $22 million in infrastructure additions, which was
almost exclusively developer contributed capital. There was also increase activity in Construction in Progress
(CIP) capital, which increased of $6.1 million, net of projects completed in 2015 and reclassified out of CIP.
There were several CIP projects completed and reclassified during 2015 ($16.4 million). The most significant
CIP completions and reallocations in 2015 included: Garden Ave. Widening ($2.9 million), Taxiway Bravo
($10.7 million), and the Airport Lift Station Rehab ($1.2 million). More detail about the City’s Capital Assets
can be found in Note 5 to the financial statements.
As of December 31, 2015, depreciable capital assets for governmental activities were 36 percent depreciated,
slightly below the 2014 rate of 37 percent. This comparison indicates the City is replacing its assets at
approximately the same rate they are depreciating, which is a positive indicator.
Debt Administration
2015 2014 2015 2014 2015 2014
General Obligation Bonds 35,945,000$ 40,135,001$ ‐$ ‐$ 35,945,000$ 40,135,001$
Revenue Bonds ‐ ‐ 27,175,783 28,760,000 27,175,783 28,760,000
Other Long‐Term Debt 33,203,128 34,470,753 3,248,163 3,951,670 36,451,291 38,422,423
Unamortized Premium (Discount) 1,454,331 1,747,831 (69,217) (82,699) 1,385,114 1,665,132
Employee Benefits 33,312,198 10,242,130 6,410,514 687,363 39,722,712 10,929,493
Total 103,914,657$ 86,595,715$ 36,765,243$ 33,316,334$ 140,679,900$ 119,912,049$
Governmental Activities Business‐Type Activities
LONG‐TERM DEBT
Total
The City’s total outstanding debt at December 31, 2015, was $141 million, a $21 million (17 percent) increase
from the prior year which is attributed to the addition of $26.8 million in net pension liability, which is now
required by the adoption of GASB 68. Offsetting the large increase related to the addition of net pension, was
the payment of $5.6 million in general obligation bond principal, $2.0 million in revenue bond principal, and a
$0.7 million in Public Works Trust Fund Loan principal. More detailed information about the City’s long‐term
debt can be found in Note 11 to the financial statements.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐11
The City’s AA+ general obligation debt rating was reaffirmed by both Fitch and Standard in early 2015 and
maintains its AA+ revenue bond rating from Fitch (July 2014).
REQUESTS FOR FINANCIAL INFORMATION
This financial report is designed to provide our citizens, creditors, investors, and others interested in the City’s
finances with a general overview of the City’s finances and to show the City’s accountability for financial
resources it receives. If you have any questions about this report or need additional information, please
contact Iwen Wang, Administrative Services Administrator, 1055 South Grady Way, Renton, WA 98057 or visit
our web site at www.rentonwa.gov.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐12
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2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL BUSINESS‐TYPE
ACTIVITIES ACTIVITIES TOTAL
ASSETS
Cash and cash equivalents $ 55,360,863 $ 32,274,301 $ 87,635,164
Cash with fiscal agent 435,591 ‐ 435,591
Investments at fair value 30,148,672 19,179,859 49,328,531
Receivables (net of allowance
for uncollectibles) 17,665,944 9,701,950 27,367,894
Inventories 180,632 386,136 566,768
Prepayments 53,000 ‐ 53,000
Other non‐current assets:
Special assessments 6,961 58,925 65,886
Net pension asset 18,989,716 ‐ 18,989,716
Investment in joint ventures (net) 35,360,949 ‐ 35,360,949
Restricted assets:
Cash and cash equivalents ‐ 2,909,578 2,909,578
Capital assets not being depreciated:
Land 204,852,858 6,150,056 211,002,914
Construction in progress 56,729,526 12,654,589 69,384,115
Capital assets, net of
accumulated depreciation:
Buildings 56,334,942 9,823,177 66,158,119
Infrastructure 176,956,421 270,753,625 447,710,046
Machinery and equipment 11,812,573 924,521 12,737,094
Intangibles 552,271 1,134,803 1,687,074
Total assets 665,440,919 365,951,520 1,031,392,439
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 4,370,470 690,615 5,061,085
Deferred amount on refunding 1,096,890 846,527 1,943,417
Total deferred outflows of resources 5,467,360 1,537,142 7,004,502
LIABILITIES
Accounts payable and other current liabilities 11,875,812 3,118,939 14,994,751
Interest payable 499,150 95,614 594,764
Unearned revenue 1,564,906 526,172 2,091,078
Non‐current liabilities:
Due within one year 8,590,467 2,291,350 10,881,817
Due in more than one year 96,797,063 35,332,531 132,129,594
Total liabilities 119,327,398 41,364,606 160,692,004
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 6,780,859 867,175 7,648,034
Total deferred inflows of resources 6,780,859 867,175 7,648,034
NET POSITION
Net investment in capital assets 467,609,532 271,016,825 738,626,357
Restricted
Grants and contributions 91,051 ‐ 91,051
Special purpose taxes & assessments 6,383,125 ‐ 6,383,125
Debt service 1,523,255 2,909,578 4,432,833
Pensions 18,989,716 ‐ 18,989,716
Unrestricted 50,203,343 51,330,478 101,533,821
Total net position $ 544,800,022 $ 325,256,881 $ 870,056,903
PRIMARY GOVERNMENT
STATEMENT OF NET POSITION
DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐1
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The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐2
NE
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RE
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IN NET POSITION 2015 Comprehensive Annual Financial Report
PR
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PR
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31
,
20
1
5
2015 Comprehensive Annual Financial Report City of Renton, Washington
MUNICIPAL OTHER TOTAL
FACILITIES GOVERNMENTAL GOVERNMENTAL
GENERAL CIP FUNDS FUNDS
ASSETS
Cash & cash equivalents $ 13,018,604 $ 9,165,524 $ 7,669,542 $ 29,853,670
Cash with fiscal agent 435,591 ‐ ‐ 435,591
Investments at fair value 7,066,552 4,996,420 4,180,913 16,243,885
Receivables (net of allowances):
Taxes 2,313,328 ‐ ‐ 2,313,328
Customer accounts 5,535,722 223 3,714 5,539,659
Accrued interest & penalties 63,595 77,542 50,701 191,838
Special assessments ‐ ‐ 9,236 9,236
Due from other funds ‐ 570,977 570,977 1,141,954
Due from other governmental units 5,902,140 191,959 3,365,823 9,459,922
TOTAL ASSETS 34,335,532 15,002,645 15,850,906 65,189,083
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 34,335,532 $ 15,002,645 $ 15,850,906 $ 65,189,083
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities
Accounts payable $ 1,816,996 $ 507,997 $ 1,536,643 $ 3,861,636
Taxes payable 42,597 ‐ ‐ 42,597
Retainage payable 3,155 67,637 337,741 408,533
Due to other funds 1,141,954 ‐ ‐ 1,141,954
Due to other governmental units 30,384 ‐ ‐ 30,384
Matured interest payable ‐ ‐ 1,920 1,920
Interfund loans payable 875,000 ‐ 146,298 1,021,298
Custodial accounts 197,957 ‐ ‐ 197,957
Unearned revenues 296,409 ‐ 1,266,774 1,563,183
Accrued wages and benefits payable 2,838,402 ‐ ‐ 2,838,402
Total liabilities 7,242,854 575,634 3,289,376 11,107,864
DEFERRED INFLOWS OF RESOURCES
Deferred amount of special assessments ‐ ‐ 9,236 9,236
Unavailable revenues 5,308,144 209 2,429 5,310,782
TOTAL DEFERRED INFLOWS OF RESOURCES 5,308,144 209 11,665 5,320,018
FUND BALANCES
Restricted 156,105 565,468 7,275,858 7,997,431
Committed 1,185,085 13,367,696 2,476,776 17,029,557
Assigned 260,342 493,638 2,797,231 3,551,211
Unassigned 20,183,002 ‐ ‐ 20,183,002
TOTAL FUND BALANCES 21,784,534 14,426,802 12,549,865 48,761,201
TOTAL LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES $ 34,335,532 $ 15,002,645 $ 15,850,906 $ 65,189,083
GOVERNMENTAL FUNDS
BALANCE SHEET
DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐3
2015 Comprehensive Annual Financial Report City of Renton, Washington
FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ 48,761,201
Amounts reported for governmental activities in the statement of net position are different because:
Other non‐current assets and deferred outflows of resources used in governmental activities are not
financial resources and, therefore, are not reported in the governmental funds.
Investment in Joint Venture‐SCORE 31,416,070
Investment in Joint Venture‐Valley Communications 3,944,879
Net pension assets 18,989,716
Deferred outflows related to pensions 3,926,722 58,277,387
Capital assets used in governmental activities are not financial resources and, therefore, are not reported
in the governmental funds.
Land 204,852,858
Construction in progress 56,653,045
Buildings (net of accumulated depreciation) 55,335,172
Infrastructure (net of accumulated depreciation) 176,790,394
Machinery and equipment (net of accumulated depreciation)1,061,390
Intangible assets (net of accumulated amortization) 46,565 494,739,424
Other long‐term assets are not available to pay for current period expenditures and, therefore, are
reported as unavailable revenue in the funds.
Property tax revenue 566,898
Municipal court revenue 1,039,867
Photo enforcement revenue 3,432,485
Other 280,768 5,320,018
Certain liabilities are not due and payable in the current period and, therefore, are not reported in the
governmental funds.
Interest payable (497,230)
Bonds payable and deferred amounts on refunding (70,602,459)
Compensated absences (5,339,522)
Other post employment benefits (6,839,826)
Net pension liabilities (17,349,767)
Deferred inflows related to pensions (6,211,994) (106,840,798)
Accrued pension expense reported in the governmental funds is not included in the calculation of the net
pension liability.160,317
Internal service funds are used by management to charge the costs of certain activities, such as equipment
rental, self‐insurance, information technology and facility services to individual funds. The assets and
liabilities of the internal service funds are included in the governmental activities in the statement of net
position.44,382,473
NET POSITION OF GOVERNMENTAL ACTIVITIES $ 544,800,022
RECONCILIATION OF THE BALANCE SHEET
TO THE STATEMENT OF NET POSITION
DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐4
2015 Comprehensive Annual Financial Report City of Renton, Washington
MUNICIPAL OTHER TOTAL
FACILITIES GOVERNMENTAL GOVERNMENTAL
GENERAL CIP FUNDS FUNDS
REVENUES
Taxes $ 82,385,005 $ 2,271,945 $ 6,760,937 $ 91,417,887
Licenses and permits 5,895,503 465,837 2,179,750 8,541,090
Intergovernmental revenues 4,972,116 1,216,548 4,358,133 10,546,797
Charges for services 11,101,008 3,870 2,232,413 13,337,291
Fines and forfeits 3,022,849 ‐ 26,693 3,049,542
Interfund revenues 296,649 ‐ ‐ 296,649
Contributions 158,292 ‐ 29,324 187,616
Investment earnings 959,200 84,035 65,337 1,108,572
Miscellaneous revenues 1,992,368 621 1,543 1,994,532
TOTAL REVENUES 110,782,990 4,042,856 15,654,130 130,479,976
EXPENDITURES
Current:
General government 11,223,964 110,521 ‐ 11,334,485
Judicial 2,461,668 ‐ ‐ 2,461,668
Public safety 58,211,446 ‐ ‐ 58,211,446
Utilities 236,245 ‐ ‐ 236,245
Transportation 9,002,030 ‐ 1,896,904 10,898,934
Economic environment 6,271,302 140,096 216,738 6,628,136
Health and human services 1,876,841 ‐ ‐ 1,876,841
Culture and recreation 11,396,257 823,497 30,989 12,250,743
Capital outlay:
General government 649,532 111,868 ‐ 761,400
Public safety 16,070 ‐ ‐ 16,070
Transportation 45,695 ‐ 5,328,566 5,374,261
Culture and recreation 12,989 14,109,465 ‐ 14,122,454
Debt service:
Principal payments ‐ ‐ 4,834,225 4,834,225
Interest and fiscal charges ‐ ‐ 1,660,586 1,660,586
TOTAL EXPENDITURES 101,404,039 15,295,447 13,968,008 130,667,494
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 9,378,951 (11,252,591) 1,686,122 (187,518)
OTHER FINANCING SOURCES (USES)
Transfer in 5,000 5,622,264 3,199,365 9,326,629
Transfer (out) (7,668,610) (32,322) (2,585,111) (10,786,043)
Refunding bonds issued ‐ ‐ 12,520,000 12,520,000
Premium on general obligation debt ‐ ‐ 1,171,804 1,171,804
Payment to refunded bond escrow agent ‐ ‐ (13,573,341) (13,573,341)
Insurance recoveries 14,724 ‐ ‐ 14,724
TOTAL OTHER FINANCE SOURCES (USES) (7,648,886) 5,589,942 732,717 (1,326,227)
NET CHANGE IN FUND BALANCE 1,730,065 (5,662,649) 2,418,839 (1,513,745)
FUND BALANCE JANUARY 1 20,054,469 21,186,202 10,131,026 51,371,697
Prior Period Adjustment ‐ (1,096,751) ‐ (1,096,751)
FUND BALANCES JANUARY 1 RESTATED 20,054,469 20,089,451 10,131,026 50,274,946
FUND BALANCE DECEMBER 31 $ 21,784,534 $ 14,426,802 $ 12,549,865 $ 48,761,201
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
Page 1 of 1
FOR THE YEAR ENDED DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐5
2015 Comprehensive Annual Financial Report City of Renton, Washington
NET CHANGES IN FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ (1,513,745)
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost
of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the
amount by which capital outlays exceeded depreciation expense in the current period plus losses on capital
assets from the sale of land and equipment.
Capital expenditures 20,274,185
Depreciation and amortization expense (9,565,017)
Loss on disposal of assets (8,601) 10,700,567
Governmental funds report pension expenditures when due and payable from current financial resources.
However, in the statement of activities, pension expenseis measured by the change in the net pension assets,
net pension liabilities, and related deferred outflows and inflows. This is the net difference in pension
expense.2,652,021
Donations of property and infrastructure from developers are not reported in the governmental funds.
However, in the statement of activities, the fair market value of those assets is recognized as revenue. 3,779,388
Revenues in the statement of activities that do not provide current financial resources are not reported as
revenue in the funds. Unavailable revenue increased by this amount. 333,101
The issuance of long‐term debt (e.g., bonds, leases) provides current financial resources to governmental
funds, while the repayment of the principle of long‐term debt consumes the current financial resources of
governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds
report the effect of premiums, discounts, and refundings when debt is first issued, whereas these amounts
are deferred and amortized in the statement of activities. This amount is the net effect of these differences in
the treatment of long‐term debt and related items.2,613,724
Increase (decrease) in Investment in Joint Ventures which do not provide current financial resources and,
therefore, are not reported in the funds.
Equity interest‐SCORE 136,621
Equity interest‐Valley Communications 470,862 607,483
Internal service funds are used by management to charge the costs of certain activities to individual funds.
The net revenue (expense) of the internal service funds are reported with governmental activities. 5,898,617
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 25,071,156
FOR THE YEAR ENDED DECEMBER 31, 2015
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
GOVERNMENTAL ACTIVITIES
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐6
2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 29,062,337 $ 2,209,951 $ 1,002,013 $ 32,274,301 $ 25,507,193
Investments at fair value 17,428,915 1,204,715 546,229 19,179,859 13,904,787
Receivables (net of allowances):
Customer accounts 5,414,901 1,774,272 79,525 7,268,698 9,948
Special assessments 83,490 ‐ ‐ 83,490 ‐
Interest ‐ investments 141,214 12,207 9,124 162,545 145,530
Interfund loan receivable ‐ ‐ ‐ ‐ 321,298
Due from other governmental units 1,418,455 114,591 654,171 2,187,217 3,444
Inventory of materials and supplies 326,439 ‐ 59,697 386,136 180,632
Prepayments ‐ ‐ ‐ ‐ 53,000
Total current assets 53,875,751 5,315,736 2,350,759 61,542,246 40,125,832
Noncurrent assets:
Restricted cash & cash equivalents 2,909,578 ‐ ‐ 2,909,578 ‐
Special assessments‐non‐current 58,925 ‐ ‐ 58,925 ‐
Advances to other funds ‐ ‐ ‐ ‐ 700,000
Capital assets not being depreciated:
Land 2,682,776 ‐ 3,467,280 6,150,056 ‐
Construction in progress 11,023,212 ‐ 1,631,377 12,654,589 76,481
Capital assets, net of
accumulated depreciation:
Buildings, improvements and equipment 256,120,972 ‐ 25,380,351 281,501,323 11,916,980
Intangible assets 1,134,803 ‐ ‐ 1,134,803 505,706
Total noncurrent assets 273,930,266 ‐ 30,479,008 304,409,274 13,199,167
TOTAL ASSETS 327,806,017 5,315,736 32,829,767 365,951,520 53,324,999
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 538,084 33,310 119,221 690,615 443,748
Deferred amount on refunding 846,527 ‐ ‐ 846,527 ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES $ 1,384,611 $ 33,310 $ 119,221 $ 1,537,142 $ 443,748
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 1 of 2
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐7
2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 666,431 $ 1,276,840 $ 251,776 $ 2,195,047 $ 527,145
Claims incurred but not reported ‐ ‐ ‐ ‐ 3,863,874
Retainage payable 27,259 ‐ ‐ 27,259 6,548
Due to other governments 608,904 ‐ ‐ 608,904 ‐
Accrued interest payable 95,614 ‐ ‐ 95,614 ‐
Accrued wages and benefits payable 389,759 21,215 99,060 510,034 317,025
Accrued taxes payable 89,152 71,704 82,100 242,956 70
Custodial accounts 20,870 ‐ 220,219 241,089 ‐
Unearned revenue 339,700 6,624 179,848 526,172 1,723
Revenue bonds payable 1,585,000 ‐ ‐ 1,585,000 ‐
Total current liabilities 3,822,689 1,376,383 833,003 6,032,075 4,716,385
Long‐term liabilities:
Revenue bonds payable 26,437,310 ‐ ‐ 26,437,310 ‐
Accrued wages and benefits payable 453,058 21,562 95,248 569,868 370,946
Public works trust fund loan payable 2,639,259 ‐ ‐ 2,639,259 ‐
Net pension liability 4,417,761 278,284 990,049 5,686,094 3,730,078
Total long‐term liabilities 33,947,388 299,846 1,085,297 35,332,531 4,101,024
TOTAL LIABILITIES 37,770,077 1,676,229 1,918,300 41,364,606 8,817,409
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 673,744 42,441 150,990 867,175 568,865
TOTAL DEFERRED INFLOWS OF RESOURCES 673,744 42,441 150,990 867,175 568,865
NET POSITION
Net investment in capital assets 240,537,817 ‐ 30,479,008 271,016,825 12,499,167
Restricted ‐Waterworks utility debt 2,909,578 ‐ ‐ 2,909,578 ‐
Unrestricted 47,299,412 3,630,376 400,690 51,330,478 31,883,306
TOTAL NET POSITION $ 290,746,807 $ 3,630,376 $ 30,879,698 $ 325,256,881 $ 44,382,473
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 2 of 2
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐8
2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
OPERATING REVENUES:
Charges for services $ 52,824,976 $ 17,053,374 $ 2,047,961 $ 71,926,311 $ 34,823,790
Interdepartmental services 98,521 1,798 ‐ 100,319 ‐
Miscellaneous 340,205 91,094 2,868,985 3,300,284 183,288
TOTAL OPERATING REVENUES 53,263,702 17,146,266 4,916,946 75,326,914 35,007,078
OPERATING EXPENSES:
Supplies 1,401,801 8,888 392,751 1,803,440 1,956,945
Personnel services 8,733,107 686,293 2,014,719 11,434,119 6,300,809
Contracted services 20,602,113 14,211,032 2,290,504 37,103,649 4,743,210
Insurance ‐ ‐ ‐ ‐ 15,661,467
Taxes 4,443,868 2,001,439 12,060 6,457,367 88,121
Depreciation and amortization 8,494,336 ‐ 1,300,833 9,795,169 2,311,012
TOTAL OPERATING EXPENSES 43,675,225 16,907,652 6,010,867 66,593,744 31,061,564
OPERATING INCOME (LOSS) 9,588,477 238,614 (1,093,921) 8,733,170 3,945,514
NON‐OPERATING REVENUES(EXPENSES):
Intergovernmental revenues 377,625 111,688 215,054 704,367 40,057
Investment earnings 202,996 14,776 7,743 225,515 194,842
Gain (loss) on sale of capital assets (200,835) ‐ (500,883) (701,718) 17,109
Other non‐operating revenues (expenses) 24,951 90 7,945 32,986 14,480
Interest expense (1,308,317) ‐ (8,074) (1,316,391) ‐
Insurance recoveries 5,028 ‐ ‐ 5,028 95,710
NON‐OPERATING REVENUE NET OF EXPENSE (898,552) 126,554 (278,215) (1,050,213) 362,198
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS 8,689,925 365,168 (1,372,136) 7,682,957 4,307,712
Capital contributions 21,638,905 ‐ 1,652,369 23,291,274 ‐
Transfers in ‐ ‐ ‐ ‐ 1,715,905
Transfers out (129,588) (1,903) ‐ (131,491) (125,000)
CHANGE IN NET POSITION 30,199,242 363,265 280,233 30,842,740 5,898,617
NET POSITION, JANUARY 1 265,146,398 3,554,479 31,781,505 300,482,382 42,429,801
Change in accounting principles ‐ GASB 68 (4,598,833) (287,368) (1,182,040) (6,068,241) (3,945,945)
NET POSITION, JANUARY 1 RESTATED 260,547,565 3,267,111 30,599,465 294,414,141 38,483,856
NET POSITION, DECEMBER 31 $ 290,746,807 $ 3,630,376 $ 30,879,698 $ 325,256,881 $ 44,382,473
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐9
2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services $ 53,411,034 $ 17,385,447 $ 4,971,454 $ 75,767,935 $‐
Cash received from other funds for services 98,521 ‐ ‐ 98,521 35,091,268
Cash paid to suppliers for goods & services (26,393,805) (15,498,728) (2,691,896) (44,584,429) (22,031,923)
Cash paid to employees (8,775,490) (683,118) (2,148,185) (11,606,793) (6,372,717)
Other non‐operating receipts 29,979 90 7,945 38,014 110,190
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 18,370,239 1,203,691 139,318 19,713,248 6,796,818
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds ‐ ‐ ‐ ‐ 1,715,905
Transfers to other funds (129,588) (1,903) ‐ (131,491) (125,000)
Operating grants 377,625 106,593 350,529 834,747 40,057
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 248,037 104,690 350,529 703,256 1,630,962
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment 6,300 ‐ ‐ 6,300 139,836
System development charges 2,344,727 ‐ ‐ 2,344,727 ‐
Acquisition & construction of capital assets (5,272,812) ‐ (1,761,283) (7,034,095) (4,382,247)
Special assessments 187,873 ‐ ‐ 187,873 ‐
Capital grants 1,019,081 ‐ 1,652,369 2,671,450 ‐
Principal payments on debt (2,294,225) ‐ (391,853) (2,686,078) ‐
Interest payments on debt (1,219,121) ‐ (8,808) (1,227,929) ‐
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (5,228,177) ‐ (509,575) (5,737,752) (4,242,411)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal proceeds from interfund loans 561,335 ‐ ‐ 561,335 534,933
Payments for interfund loans ‐ ‐ ‐ ‐ (875,000)
Proceeds from sale of investments ‐ ‐ 91,798 91,798 573,230
Payments for investments (2,998,257) (348,105) ‐ (3,346,362) ‐
Interest on investments and loans 152,253 11,031 7,368 170,652 153,696
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES (2,284,669) (337,074) 99,166 (2,522,577) 386,859
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 11,105,430 971,307 79,438 12,156,175 4,572,228
CASH & CASH EQUIVALENTS, JANUARY 1 17,956,907 1,238,644 922,575 20,118,126 20,934,965
RESTRICTED CASH & CASH EQUIVALENTS, JANUARY 1 2,909,578 ‐ ‐ 2,909,578 ‐
TOTAL CASH, RESTRICTED CASH, & CASH
EQUIVALENTS, DECEMBER 31 $ 31,971,915 $ 2,209,951 $ 1,002,013 $ 35,183,879 $ 25,507,193
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Page 1 of 2
FOR THE YEAR ENDED DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐10
2015 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
ACTIVITIES
OTHER TOTAL INTERNAL
WATERWORKS SOLID ENTERPRISE ENTERPRISE SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ 9,588,477 $ 238,614 $ (1,093,921) $ 8,733,170 $ 3,945,514
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 8,494,336 ‐ 1,300,833 9,795,169 2,311,012
Other non‐operating revenue 29,979 90 7,945 38,014 110,190
(Increase) decrease in
accounts receivable 270,274 232,557 21,002 523,833 84,131
(Increase) decrease in inventory
& prepaid items (39,423) ‐ 4,015 (35,408) (9,149)
(Increase) decrease in deferred outflows
related to pensions (281,671) (17,848) (59,066) (358,585) (226,567)
Increase (decrease) in operating
accounts payable 91,908 717,349 (1,830) 807,427 (265,887)
Increase (decrease) in due to
other funds ‐ ‐ ‐ ‐ (34,058)
Increase (decrease) in accrued taxes
& other short‐term liabilities 1,492 5,282 1,234 8,008 726,984
Increase (decrease) in
customer deposits 4,240 ‐ 14,245 18,485 ‐
Increase (decrease) in
unearned revenues (28,661) 6,624 19,261 (2,776) 197
Increase (decrease) in accrued
employee wages and benefits 22,560 4,418 30,567 57,545 36,420
Increase (decrease) in net pension liability
and deferred inflows related to pensions 216,728 16,605 (104,967) 128,366 118,031
Total adjustments 8,781,762 965,077 1,233,239 10,980,078 2,851,304
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 18,370,239 $ 1,203,691 $ 139,318 $ 19,713,248 $ 6,796,818
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Loss on disposal of capital assets $ 193,726 $‐ $ 500,883 $ 694,609 $‐
Contributions of capital assets $ 17,471,388 $‐ $‐ $ 17,471,388 $‐
Depreciation & amortization $ 8,494,336 $‐ $ 1,300,833 $ 9,795,169 $ 2,311,012
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Page 2 of 2
FOR THE YEAR ENDED DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐11
2015 Comprehensive Annual Financial Report City of Renton, Washington
PENSION TRUST AGENCY
FIREFIGHTERS' SPECIAL
PENSION DEPOSITS
ASSETS
Cash and cash equivalents $ 1,763,744 $ 934,177
Investments at fair value:
Federal National Mortgage Association 541,638 ‐
Federal Home Loan Bank 229,314
FFCB 95,546
FNMA Zero Coupon 499,315
FNMA Zero Coupon Strip 141,467
US Treasury Strips 2,728,341 ‐
Certificates of deposit 347,022 ‐
Receivables (net of allowances)
Interest on investments 3,184,815 ‐
TOTAL ASSETS 9,531,202 934,177
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
LIABILITIES
Deposits ‐ 934,177
TOTAL LIABILITIES ‐ 934,177
DEFERRED INFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐
NET POSITION
Net position held in trust for pension benefits
and other purposes $ 9,531,202 $‐
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐12
2015 Comprehensive Annual Financial Report City of Renton, Washington
PENSION TRUST
FIREFIGHTERS'
PENSION
ADDITIONS:
Other contributions:
Fire insurance premiums transferred in $ 146,358
Investment earnings:
Investment interest 336,787
Net increase / (decrease) in the fair value of investments (202,796)
Total Investment earnings 133,991
TOTAL ADDITIONS 280,349
DEDUCTIONS:
Benefits 205,147
Administrative expenses 11,775
TOTAL DEDUCTIONS 216,922
Change in net position 63,427
NET POSITION ‐ JANUARY 1 9,467,775
NET POSITION ‐ DECEMBER 31 $ 9,531,202
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIREFIGHTERS' PENSION FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐13
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐14
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Renton’s financial statements have been prepared in conformity with generally accepted
accounting principles (GAAP) in the United States, as applied to governments. The Governmental Accounting
Standards Board (GASB) is the standard setting body for governmental accounting and financial reporting.
For the reporting year ended December 31, 2015, the City has implemented GASB 68, Accounting and
Financial Reporting for Pensions, and GASB 71, Pension Transition for Contributions Made Subsequent to the
Measurement Date, as they relate to the City’s pension plans.
As a result of the GASB 68 and GASB 71 implementation, the City recorded adjustments to beginning net
position as follows:
Governmental
Activities
Business‐Type
Activities Total
Firefighters' Pension 2,684,672$ ‐$ 2,684,672$
PERS 1 (11,578,721) (3,221,798) (14,800,519)
PERS 2/3 (10,316,307) (2,871,075) (13,187,382)
PSERS 21 , 3 1 8 ‐ 1,318
LEOFF 11 , 7 2 4 , 0 7 5 ‐ 1,724,075
LEOFF 26 , 6 8 6 , 7 1 3 ‐ 6,686,713
Accrued Pension Benefits 152,828 24,632 177,460
SCORE Restatement (1,134,356) ‐ (1,134,356)
Valley Com Restatement (1,876,235) ‐ (1,876,235)
Total Adjustment to Beginning Net Position (13,656,013)$ (6,068,241)$ (19,724,254)$
A. REPORTING ENTITY
The City of Renton was incorporated on September 6, 1901, and operates under the laws of the State of
Washington applicable to a Non‐Charter code city with a Mayor/Council form of government. A full‐time
Mayor and seven part‐time Council members serve the City, all elected at large to four‐year terms. The City
provides the full range of municipal services authorized by state statutes, together with a Municipal Airport, a
Waterworks Utility, a Solid Waste Utility, and a Municipal Golf Course.
The City of Renton has no component units (either blended or discretely presented) included in these
statements. The City of Renton’s Mayor appoints the Governing Board for the Renton Housing Authority,
which is not considered a component unit of the City. The City is under no obligation to subsidize, nor does it
exercise any other prerequisite for inclusion.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐15
B. BASIS OF PRESENTATION
The City’s basic financial statements include both government‐wide statements and fund financial statements.
The government‐wide statements report financial information for the City as a whole, while the fund
statements present detailed financial information at the fund level. The City’s fiduciary funds are presented in
the fund financial statements. Since the assets are being held for the benefit of a third party and cannot be
used for obligations of the City, they are not included in the Government‐wide statements.
Government‐wide financial statements
In the government‐wide statement of net position governmental and business‐type activities are reported.
Governmental activities are mostly supported by taxes, intergovernmental revenue, and other non‐exchange
transactions. The governmental activities column includes the combined data from all governmental funds
and internal service funds. Business‐type activities mostly rely on fees and charges for services to external
customers and include data from the City’s enterprise funds.
The government‐wide statement of activities presents a comparison between direct expenses and program
revenues for each of the City’s governmental activities (general government, judicial, public safety, utilities,
transportation, economic environment, health and human services, and culture and recreation) and for each
identifiable business‐type activity (waterworks utility, airport, solid waste utility, and golf course). Direct
expenses are those that are specifically associated with a function and therefore clearly identifiable to that
particular function.
The statement of activities reports the expenses of a given function offset by a program revenue directly
associated with the functional program. Program revenues include: 1. charges for services which reports fees
and charges for users of the City’s service, 2. operating grants and contributions which support annual
operating activities, and 3. capital grants and contributions which finance the acquisition, construction, or
rehabilitation of capital assets. For determining the function, charges for services are tied to the function that
generates the revenue and grants and contributions are tied to the function in which functional use they are
restricted towards.
Taxes and other sources that are not directly related to a program are reported as general revenue. The
comparison of direct expenses with program revenues identifies the extent each governmental function and
business activity are self‐sustaining and requires a draw from the general revenues of the City.
Generally, the effect of interfund activity has been eliminated from the government‐wide financial
statements, with the exception of various charges for services among different functions within the
government. Elimination of these charges would distort the direct costs and program revenues reported for
the various functions involved.
Fund financial statements
The City’s activities are tracked in individual funds to segregate the transactions to aid in financial
management and, in some cases, demonstrate legal compliance. The fund financial statements are intended
to present the City’s financial activities as a more detailed level. Separate financial statements are provided
for each fund category ‐ governmental, proprietary, and fiduciary funds. Each of the City’s major funds, within
each fund category, are presented in a separate column. All non‐major funds, within each fund category, are
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐16
aggregated into one column; internal service funds are aggregated into one column and reported on the face
of the proprietary fund statements; and fiduciary funds are reported by type.
The City reports the following major governmental funds:
General Fund is the primary operating fund of the City. It is used to account for the resources and
disbursements of ordinary City operations that are not required to be accounted for in another fund.
These include the costs of legislative and executive departments, court services, finance and legal
departments, development services, police and fire departments, human resources and technical
services, community services, parks, economic development, streets, property management for City
owned leased facilities, library and museum, fire memorial, and fire department’s health and wellness
programs. The major sources of revenue are property taxes, utility taxes, and sales taxes. Licenses and
permits, charges for services, and fines and forfeits provide additional support. Community
development block grant activities are accounted for within this fund, which is federally funded.
Municipal Facilities Fund accounts for facility improvements and renovations, property acquisitions for
parks and City space needs, parks development and equipment, and major capital requirements.
Resources include general and special revenue taxes, grants, mitigation revenue, and Council‐approved
general obligation bonds.
The City reports the following major enterprise funds:
Waterworks Utility Fund accounts for all operating and capital improvement programs for water,
wastewater, and storm water services within the City. The operating activities are primarily supported
by user fees include: administration, billings and collections, debt service, engineering and operation,
maintenance and repairs. The primary resources for capital improvement programs are revenue bond
proceeds, grants (as available), and utility connection charges.
Solid Waste Fund accounts for solid waste, recycling, and yard waste collection services for the City are
accounted for in this fund, supported entirely by service fees. The expenses include payment to the
City’s garbage contractor and other service charges.
Additionally, the government reports the following fund types:
Internal Service Funds include 1. the equipment rental fund (equipment replacement, information
technology, facilities, and communications) and 2. the insurance fund (including risk management,
workers compensation, unemployment compensation, and employee health care program). The
equipment rental fund factors all costs, including depreciation, into the rates charged to each user
department. The insurance fund pays expense and rates are charged to departments based on use
and/or coverage requirements.
Firefighters’ Pension Fund accounts for the payment of administrative costs and benefits for retired
firefighters and their beneficiaries, who were employed prior to March 1, 1970. Primary revenues
sources are general property tax allocations in accordance with actuarial calculations, the fire premium
tax, and investment income.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐17
Special Deposit Fund was established for the purpose of holding or retaining cash deposits or other
securities pending fulfillment of certain conditions and/or requirements by the depositor. Refunds are
made when all obligations have been met and only upon authorization from the transmitting
department.
Special Revenue Funds are used to account for specific revenues that are restricted for expenditures
for particular purposes.
Debt Service Funds account for the accumulation of resources for and the payment of general
obligation and special assessment bonds.
During the course of operations the City has activity between funds for various purposes. Any residual
balances outstanding at year‐end are reported as due to/from other funds and advances to/from other funds.
While these balances are reported in the fund financial statements, certain eliminations are made in the
preparation of the government‐wide financial statements. Balances between funds included in the
governmental activities (generally between governmental and internal service funds) are eliminated so that
only the net amount is included as internal balances in the governmental activities column. Similarly, balances
between the funds included in the business‐type activities are eliminated so that only the net amount is
included as internal balances in the business type activities column.
Further, certain activity occurs during the year involving transfers of resources between funds. In fund
financial statements these amounts are reported as gross amounts as transfers in/out. While reported in fund
financial statements, certain eliminations are made in the preparation of government‐wide financial
statements. Transfers between the funds included in governmental activities are eliminated so that only the
net amount is included as transfers in the governmental activities column. Similarly, balances between the
funds included in business‐type activities are eliminated so that only the net amount is included in transfers in
the business‐type activities column.
C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
Basis of Accounting refers to the point at which revenues or expenditures/expenses transactions or events are
recognized in the accounts and reported in the financial statements. Measurement focus is measured one of
two ways: either the current financial resource or the economic resource method.
Government‐wide financial statements – the government‐wide financial statements are prepared using the
economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when
earned and expenses are recorded when the liability is incurred, regardless of the timing of related cash flows.
Property taxes are recognized as revenue in the year they are levied and grants are recognized as revenue as
soon as all eligibility requirements have been met.
Governmental fund financial statements – the governmental fund financial statements use a different
measurement focus from the proprietary fund statements and government‐wide statements. The
governmental fund financial statements use the current financial resources measurement and the modified
accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.
Revenues are considered to be available when they are collectible within the current reporting period or soon
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐18
enough thereafter to pay liabilities of the current period. The City considers revenue available if they are
collected within 60 days of the end of the current fiscal period. Expenditures are generally recorded when a
liability is incurred, the same as accrual accounting. However, debt service expenditures, as well as
expenditures related to compensated absences, and claims and judgements are recorded only when payment
is due. General capital asset acquisitions are reported as current expenditures in governmental funds.
Issuance of long‐term debt and capital lease acquisitions are reported as other financing sources.
Property taxes, sales tax, franchise taxes, licenses, and interest associated with the current period are all
considered susceptible to accrual and have been recognized as revenue in the current fiscal period.
Expenditure‐driven grants are recognized as revenue when the qualifying expenditure amount is received
during the period or within the availability period for this revenue source. All other revenue is considered
measurable and available only when the cash is received by the City.
Since the measurement focus between the governmental fund financial statements and the governmental
activities in the government‐wide statements vary, a detailed reconciliation is included in the fund statements
to identify the relationship between the two statement types.
Proprietary fund financial statements – the proprietary fund statements and pension fund statements are
reported using the economic resources measurement focus and accrual basis of accounting, the same as the
government‐wide statements.
D. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND NET POSITION/FUND
BALANCE
1. Cash and Cash Equivalents
The City has defined cash and cash equivalents as cash on hand, demand deposits, and all highly liquid
investments (including restricted assets) with maturity of three months or less when purchased. These
amounts are classified on the balance sheet or in the statement of net position as cash and cash
equivalents or investments in the various funds. Included in this category are all funds invested in the Local
Government Investment Pool. Excluded from this category are cash balances held by Fiscal Agents since
the City does not have discretionary use of these funds.
Most of the City’s cash balances are pooled and invested. Interest earned from investments purchased
with pooled cash is allocated monthly to each fund based on the fund’s beginning equity balance in the
pooled fund.
2. Investments (also see Note 3B.)
Investments for the City are reported at fair market value on the government‐wide statements.
3. Receivables
Receivables have been reported net of estimated uncollectible accounts. Because property taxes, special
assessments, and utility billings are considered liens on property, no estimated uncollectible amounts are
established.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐19
Taxes receivable consists of property taxes and related interest and penalties. Property taxes are an
enforceable lien on real property and are due the first day of the levy year and may be paid in two
equal installments. The first half is due April 1 and the balance is due October 31. The City collects
approximately 99% of the property tax due in the year it is levied and delinquent taxes are collected
within the following few years. Property tax due, but not collected within 60 days of year end, is
recorded as a receivable and offset by deferred inflow of resources – unavailable revenue. There is no
allowance for uncollectable sales tax because historically all taxes are collected and/or enforceable via
lien (refer to Note 4 for more information).
Accrued interest receivable consists of amounts earned on investments, notes, and contracts.
Customer accounts receivable consists of amounts owed from/to private individuals or organizations
for goods and services. If the transactions are receivable from another governmental unit, it is
accounted for within “due from/to other governments.”
Special assessments are recorded when levied and are liens against the property benefited. Special
assessments receivable consist of current and delinquent assessments and related interest and
penalties. Special assessments not due within one year are reported as deferred outflows of resources
in the governmental fund statements and reported as non‐current assets in the government‐wide
statements and the proprietary fund statements.
4. Internal Balances, Interfund Loan Receivables/Payable and Due From/To Other Funds
Activities between funds that are representative of lending/borrowing arrangements outstanding at the
end of the fiscal year are referred to as interfund loans receivable/payable. All other outstanding balances
between funds are reported as due to/from other funds. These amounts are eliminated within the
governmental activities and business‐type activities in the government‐wide statement, except for the
residual balances outstanding between the governmental activities and business‐type activities, which are
reported as internal balances. Refer to Note 10 for a detailed summary of interfund activity.
5. Inventories and prepaid items
All City inventories are maintained on a consumption basis of accounting where items are purchased for
inventory and charged to the budgetary accounts as the items are consumed. Any material inventories at
year‐end are included in the balance sheet of the appropriate fund. All inventories are carried at cost on
the first in, first out – FIFO basis, with the exception of the Public Works Maintenance shops inventory.
The value of this inventory is calculated using the average cost method. The cost of inventories are
recorded as an expenditure/expense when consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are reported as
prepaid items in both the Government‐wide and fund statements.
6. Capital Assets
General capital assets are those assets not specifically related to activities reported by the proprietary
funds. These assets generally result from expenditures in governmental funds or contributions. The City
reports these assets in the governmental activities column of the government‐wide statement of net
position but does not report these assets in the governmental fund financial statements. Capital assets
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐20
utilized by the propriety funds are reported both in the business‐type activities of the government‐wide
statement of net position and in the proprietary fund statement of net position.
All capital assets are valued and capitalized at cost (or estimated historical cost when actual historical cost
is unknown) and updated for additions and retirements during the year. Donated capital assets are
recorded at their fair market values as of the date received. The City maintains a capitalization threshold
of $5,000 and an estimated useful life in excess of two years. Improvements to City assets and
infrastructure are capitalized, but the cost of normal maintenance and repairs that do not extend the
useful life, or increase capacity or efficiency, are expensed.
Interest incurred during the construction phase of capital assets of proprietary funds is included as part of
the capitalized value of the assets constructed. The amount of interest capitalized is calculated by applying
the weighted average borrowing rate to the average cumulative expenditures since inception. For the year
ended December 31, 2015, total proprietary fund interest incurred of $1,659,083 was reduced by
capitalized interest in the amount of $342,692.
All capital assets, other than land, right‐of‐ways, water rights, and construction in progress, are
depreciated using the straight line method over the following estimated useful lives:
Amortization on all intangible assets is provided on the straight‐line basis over the following useful lives:
7. Other non‐current Assets
A portion of special assessments receivable are collectible in greater than one year. This long‐term portion
of the receivable is reported as an other non‐current asset.
Investment in joint ventures consists of the City’s equity balances and investment in debt of Valley
Communications Center and South Correctional Entity (see also Note 12).
8. Deferred outflows/inflows of resources
In addition to assets, the statement of financial position will report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflow of resources,
Capital Asset Class
Estimated
Useful Life
Buildings and structures, excluding utilties 10‐50 years
Other Improvements 10‐80 years
Utility plant 25‐75 years
Machinery and Equipment 3‐40 years
Infrastructure 25‐50 years
Intangible Asset Class
Estimated
Service Life
Computer software 3‐15 years
Land use rights 3‐12 years
Patents, trademarks, copyrights 3‐50 years
Other 3‐12 years
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐21
represents a consumption of net position that applies to a future period and will not be recognized as an
outflow (expense/expenditure) until that reporting period. The City has three items that qualify for
reporting in this category. Deferred amount on refunding is reported on the government‐wide statement
of net position and the proprietary fund statement of net position. A deferred amount on refunding
results from the difference in the carrying value of refunded debt and its reacquisition price. This amount
is deferred and amortized over the life of the refunded or refunding debt, whichever is shorter. Deferred
amount of special assessments is the long‐term principal due to the City from special assessment
connections. This amount is only reported in the governmental fund balance sheet. Deferred amounts
related to pensions are differences between actual and projected experience and investment earnings and
the City’s contributions to pensions subsequent to the measurement date, which was June 30, 2015,
provided by the State of Washington. Refer to Note 6 for more information on pensions.
In addition to liabilities, the statement of financial position will report a separate section for deferred
inflows of resources. This separate financial statement element represents an acquisition of net position
that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until
that time (in prior years this inflow was recognized as “deferred revenue” within the liabilities). The City
has two items that it reports as a deferred inflow of resources. Unavailable revenue arises only on the
modified accrual basis, in the governmental fund balance sheet. The amount reported in unavailable
revenue is comprised of three sources: delinquent municipal court receivables, delinquent photo
enforcement receivables, and delinquent property tax receivables. These amounts are deferred and
recognized as revenue in the period the amounts become available. On the government‐wide statements
(accrual basis of accounting) the amounts are considered available and recognized as inflow of resource in
the current period. Deferred amounts related to pensions are the net difference between the projected
and actual earnings on pension plan investments and changes in proportionate share. Refer to Note 6 for
more information on pensions.
9. Unearned Revenues
This account includes amounts collected in advance for services not yet rendered. The amounts are
subject to return to the payor in the event the associated services are not performed.
10. Custodial Accounts
This account reflects the liability for net monetary assets being held by the City in its agency capacity.
11. Compensated Absences
The City’s policy permits employees to accumulate earned but unused vacation leave benefits, which are
eligible for payment upon separation from City service. For employees hired prior to January 1, 1994, a
fifty percent cash out of accumulated earned but unused sick leave, is also eligible for payment upon
separation. The City accrues accumulated unpaid vacation and sick leave (when eligible) when earned (or
estimated to be earned) by the employee. The total compensated absences liability is reported on the
government‐wide statements and in each proprietary fund.
12. Fund Equity
Fund equity at the governmental fund level is classified as fund balance. Fund equity for all other
reporting is classified as net position.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐22
Fund balance represents the difference between the current assets and current liabilities in the
governmental fund financial statements. Fund balance classifications comprise of a hierarchy based
primarily on the extent to which the City is bound to honor constraints on the specific purpose for which
amounts in those funds can be spent. Fund balances are classified as follows:
a. Nonspendable – items that cannot be spent due to form; inventories, prepaid amounts, long‐term loan
receivables, or amounts that must be maintained intact legally.
b. Restricted – amounts constrained for specific purposes imposed through the judicial process and
enabling legislation adopted by the City; or through external restrictions imposed by creditors,
grantors, or laws or regulations of other governments.
c. Committed – amounts constrained by the City Council. Only the Council can, by ordinance, establish,
modify, or rescind constraints on committed fund balances.
d. Assigned – constraints imposed by the City Council for amounts intended for specific purposes, but do
not meet the criteria of restricted or committed. It is the City’s policy that intent of use can be
assigned by the City Council, or by a designated official, adopted through either the biennial budget
ordinance or an amending budget ordinance. For governmental funds, other than the General Fund,
the residual fund balance that is not restricted or committed is reported as assigned because the use of
fund balance, at a minimum, should be used for the purpose of that fund. Additional action does not
need to be taken to remove an assignment, whereas additional action is essential to remove a
commitment.
e. Unassigned – any remaining fund balance in the General Fund that does not meet any of the above
criteria.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐23
The following shows the composition of the fund balance in governmental funds for the year ended
December 31, 2015:
General
Municipal
Facilities
Other
Governmental Total
Restricted
Public Safety $ 88,546 ‐$ ‐$ $ 88,546
Judicial 905 ‐ ‐ 905
Community Development Block Grant 66,654 ‐ ‐ 66,654
REET ‐ 144,714 844,923 989,637
Parks, Fire, and Street Impact Mitigation Fees ‐ 197,072 3,643,355 3,840,427
King County Prop. 1 Levy ‐ 199,285 ‐ 199,285
King County Prop. 2 Levy ‐ 24,397 ‐ 24,397
Debt Service ‐ ‐ 1,523,255 1,523,255
Wetlands Mitigation Bank ‐ ‐ 332,354 332,354
State Fuel Tax ‐ ‐ 138,761 138,761
Hotel/Motel Tax ‐ ‐ 350,312 350,312
1% for Art ‐ ‐ 111,159 111,159
Cable Franchise Fees ‐ ‐ 331,739 331,739
Total Restricted 156,105 565,468 7,275,858 7,997,431
Committed
Debt Service 1,185,085 ‐ ‐ 1,185,085
Library Construction ‐ 3,398,544 ‐ 3,398,544
Capital Parks and Facilities Projects ‐ 8,969,152 ‐ 8,969,152
Economic Stabilization ‐ 1,000,000 ‐ 1,000,000
Capital Street Improvements ‐ ‐ 2,476,776 2,476,776
Total Committed 1,185,085 13,367,696 2,476,776 17,029,557
Assigned
Public Safety 88,370 ‐ ‐ 88,370
Culture and Recreation 171,972 ‐ ‐ 171,972
Capital Parks and Facilities Projects ‐ 452,293 ‐ 452,293
Economic Environment ‐ 41,345 ‐ 41,345
Transportation ‐ ‐ 2,797,231 2,797,231
Total Assigned 260,342 493,638 2,797,231 3,551,211
Unassigned
Unassigned 20,183,002 ‐ ‐ 20,183,002
Total Unassigned 20,183,002 ‐ ‐ 20,183,002
Total fund balances 21,784,534$ 14,426,802$ 12,549,865$ 48,761,201$
December 31, 2015
Governmental Fund Balances
Fund balance flow assumptions ‐ when multiple categories of fund balance are available for incurred
expenditures, it is the City’s policy to consider restricted fund balance to have been depleted before using
any of the components of unrestricted fund balance ( the total of committed, assigned, and unassigned
fund balance). Further, when the components of unrestricted fund balance can be used for the same
purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund
balance is applied last.
Net position reflects the difference between assets and liabilities, in the government‐wide and proprietary
fund statement of net position. The component net investment in capital assets consists of capital assets,
net of accumulated depreciation, reduced by any outstanding balances of any borrowing (ex. bonds or
loans and related deferred amounts on refunding) for the acquisition, construction, or improvement of
those assets. The net position is reported as restricted when there are limitations imposed on their use
either through enabling legislation adopted by the City or through external restrictions imposed by
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐24
creditors, grantors, or laws or regulations of other governments. The balance of the net position is
reported as unrestricted.
The following shows the composition of the restricted net position balances reported in the government‐
wide and proprietary fund statements for the year ended December 31, 2015:
Governmental
Activities
Business‐Type
Activities Total
Restricted Net Position
Public Safety 88,546$ ‐$ 88,546$
Judicial 905 ‐ 905
Community Development Block Grant 66,654 ‐ 66,654
REET 2 Allowable Projects 989,637 ‐ 989,637
King County Prop. 1 Levy 199,285 ‐ 199,285
King County Prop. 2 Levy 24,397 ‐ 24,397
Parks, Fire, and Street Impact Mitigation Fees 3,840,427 ‐ 3,840,427
Wetlands Mitigation Bank 332,354 ‐ 332,354
State Fuel Tax 138,761 ‐ 138,761
Hotel/Motel Tax 350,312 ‐ 350,312
1% for Art 111,159 ‐ 111,159
Cable Franchise Fees 331,739 ‐ 331,739
Debt Service 1,523,255 2,909,578 4,432,833
Pensions 18,989,716 ‐ 18,989,716
Total Restricted Net Position $ 26,987,147 $ 2,909,578 $ 29,896,725
December 31, 2015
Restricted Net Position
Net position flow assumptions – In order to calculate the amounts to be reported as restricted net
position and unrestricted net position on the government‐wide and proprietary fund statements, a flow
assumption is made. It is the City’s policy to consider restricted net position to have been depleted before
unrestricted net position.
Minimum fund balance policy – The City Council has adopted a financial policy to maintain a minimum
level of unrestricted fund balance in the general fund. The target level is set at 12 percent, with a
minimum of 8 percent, of general fund operating expenditures. This amount is intended to provide fiscal
stability when economic downturns and other unexpected events occur.
Stabilization fund policy – The City has adopted a comprehensive stabilization policy that helps provide
stability through uncertain times. This allows for temporary cushion and flexibility when needed. The City
Council, through ordinance, has established the following stabilization reserves:
1. Economic development revolving fund reserve: the City will be accumulating reserves until the
target accumulation of $2.5 million is reached. These reserves will fund the City’s matching
requirement for the use of state Local Revitalization Financing. Expenditure utilizing this reserve
will require a two‐thirds majority vote of the City Council.
2. Catastrophic reserve: the City will maintain a targeted amount of 8 percent for risk management
reserves, for catastrophic emergencies. Expenditure utilizing this reserve will require a two‐thirds
majority vote of the City Council.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐25
3. Anti‐recessionary reserve: the City will maintain a targeted reserve equal to 4 percent of the
general fund operating expense. Expenditures utilizing this reserve will require a two‐thirds
majority vote of the City Council and must be replenished within three years.
4. Annexation sales tax credit expiration/transition reserve: to help support debt service obligations
between the time the annexation sales tax credit expires (mid‐2018) and when the downtown
parking garage and library bond are paid (2022). Expenditures utilizing this reserve will require a
two‐thirds majority vote of the City Council.
5. General obligation bond payment reserve: for all councilmatic, general obligation bonds issued
after 2013, a one year payment reserve shall be established. The only bond issued since this
provision are the 2015 General Obligation Refunding Bonds.
E. REVENUES, EXPENDITURES, AND EXPENSES
1. Operating Revenues and Expenses
Proprietary funds distinguish operating revenues and expenses from non‐operating revenues and
expenses. Operating revenue and expense generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal
operating revenue of the waterworks utility, solid waste, airport, golf course, and internal service funds
are charges to customers for sales and services. The waterworks utility also recognizes water meter
installation fees, and wastewater and surface water construction permit fees as operating revenue
because these charges are intended to offset the cost of connecting new customers to the system.
Operating expense for proprietary funds and internal service funds include the cost of sales and services,
administrative expenses, and depreciation of capital assets. All revenues and expenses not meeting this
definition are reported as non‐operating revenue and expense.
2. Program Revenue
Amount reported as program revenue, on the government‐wide statement of activities, include: 1.
Charges for customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function and 2. Grants and contributions that are restricted to meeting the
operation or capital requirements of a given function. All taxes, included those dedicated to specific
purposes, are reported as general revenue rather than program revenue.
3. Capital Contributions
Capital contributions reported in the proprietary fund statements and the government‐wide statements
reflect the value of outside contributions of capital assets (i.e. developers, land donations, capital grants,
special assessments, and system development charges).
4. Interfund Activity
Exchange transactions between funds are reported as revenue in the selling fund and as an
expenditure/expense in the purchasing funds. On the government‐wide statement of activities, the
exchange transactions between the internal service funds and the user funds are eliminated. Flows of
cash or goods from one fund to another without a requirement of repayment are reported as interfund
transfers in/out. Interfund transfers in/out are reported as other financing sources/uses in the
governmental funds and following non‐operating revenues and expenses in the proprietary funds.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐26
In the government‐wide statement of activities, transfers between governmental and business‐type
activities are reported as general revenue. Transfers between funds in governmental activities are
eliminated and transfers between funds in business‐type activities are eliminated.
5. Expenditures/Expenses
Expenses in the Government‐wide Statement of Activities are reported by function as a governmental
activity (general government, judicial, public safety, utilities, transportation, economic environment,
health and human services, culture and recreation), interest on long‐term debt, or business‐type activity
(waterworks utility, airport, solid waste utility, or golf course). In the fund financial statements,
expenditures of governmental funds are classified by: function, debt service principal and interest
payments, or purchases of capital items. Proprietary expenditures are classified as operating or non‐
operating.
The City recovers certain administrative costs through indirect cost allocations to departments city‐wide.
These allocated costs are consolidated and reported by function in the government‐wide statement of
activities.
NOTE 2. COMPLIANCE AND ACCOUNTABILITY
The City of Renton budgets its funds under Generally Accepted Accounting Principles (GAAP) at the fund level.
Annual appropriated budgets are adopted for governmental funds on a biennial basis. Budgets for proprietary
funds are “management budgets” and are not legally required to be reported. Included in the Required
Supplemental Information and Combining Statements sections of the CAFR are Schedules of Revenues,
Expenditures, and Changes in Fund Balances (Budget to Actual) reporting the Actual Budgetary GAAP Basis
verses Actual GAAP Basis of Accounting for all legally adopted budgets. There have been no material
violations of finance‐related legal or contractual provisions, and there have been no expenditures exceeding
legal appropriations in any of the funds of the City. At year‐end 2015, the City of Renton noted the Solid
Waste Utility and Firefighters’ Pension Funds exceeded its final adopted “management budget” by $234,416
and $6,447, respectively.
A. PROCEDURES FOR ADOPTING THE ORIGINAL BUDGET
The City of Renton’s biennial budget procedures are mandated by the Chapter 35A.33 of the Revised Code of
Washington (RCW). The steps in the budget process are as follows:
1. Prior to November 1, the Mayor submits a proposed budget to the City Council. This budget is based on
priorities established by the Council; estimates provided by the City departments during the preceding
months; balanced by revenue estimates made by the Mayor; and includes reserves for various
contingencies.
2. The City Council conducts public hearings on the proposed budget in November and December.
3. The Council makes their adjustments to the proposed budget and adopts, by ordinance, a final balanced
budget no later than December 31.
4. The final operating budget, as adopted, is published and distributed within the first four months of the
following year.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐27
B. AMENDING THE BUDGET
The budget, as adopted, constitutes the legal authority for expenditures. Budgets are adopted on the GAAP
basis of accounting. Any comparisons between budget and actual revenues and expenditures are reported
under the GAAP basis. The biennial budget is adopted with budgetary control at the fund level, so
expenditures may not legally exceed appropriations at that level of detail. Transfers or revisions within funds
are allowed, but only the City Council has the legal authority to increase or decrease a given fund’s annual
budget. This is accomplished by City ordinance. Adopted budgets lapse at year‐end and must be re‐
appropriated (carried forward) the next fiscal year. The budget was amended three times during 2015.
Original budgeted inflows as compared to the final budgeted inflows are as follows:
Increase
Original Final (Decrease)
Budgeted Budgeted Budgeted
Fund Inflows Inflows Inflows
General Fund 107,172,371$ 112,011,746$ 4,839,375$
Arterial Street Fund 640,000 640,000 ‐
Hotel/Motel Tax Fund 265,000 265,000 ‐
1% for Art Fund 15,000 15,000 ‐
Cable Communications Development Fund 97,674 97,674 ‐
General Government Miscellaneous Debt Service Fund 6,463,588 20,155,392 13,691,804
Community Development Impact Mitigation Fund 86,500 86,500 ‐
Fire Impact Mitigation Fund 99,000 99,000 ‐
Transportation Impact Mitigation Fund 216,500 600,000 383,500
Municipal Facilities CIP Fund 3,344,000 14,168,279 10,824,279
General Government Capital Improvement Fund 13,167,628 16,630,864 3,463,236
Airport Fund 2,651,020 16,596,888 13,945,868
Solid Waste Utility Fund 16,461,726 16,461,726 ‐
Golf Course Fund 2,655,383 2,655,383 ‐
Waterworks Utility Fund 55,399,039 62,729,407 7,330,368
Equipment Repair and Replacement / Information
Technology / Facilities / Communications Fund 16,310,201 16,525,658 215,457
Insurance Fund 18,936,082 20,867,817 1,931,735
Firefighters' Pension 468,000 468,000 ‐
TOTAL 244,448,712$ 301,074,333$ 56,625,622$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐28
Original budgeted outflows as compared to the final budgeted outflows are as follows:
Increase
Original Final (Decrease)
Budgeted Budgeted Budgeted
Fund Outflows Outflows Outflows
General Fund 107,141,259$ 115,809,814$ 8,668,555$
Arterial Street Fund 640,000 640,000 ‐
Hotel/Motel Tax Fund 245,000 283,942 38,942
1% for Art Fund 102,950 102,950 ‐
Cable Communications Development Fund 97,674 117,674 20,000
General Government Miscellaneous Debt Service Fund 6,463,588 20,151,288 13,687,700
Community Development Impact Mitigation Fund ‐ 472,264 472,264
Fire Impact Mitigation Fund 250,000 250,000 ‐
Transportation Impact Mitigation Fund 196,000 1,152,335 956,335
Municipal Facilities CIP Fund 3,366,000 33,773,249 30,407,249
General Government Capital Improvement Fund 14,274,630 18,990,769 4,716,139
Airport Fund 2,260,529 16,469,927 14,209,398
Solid Waste Utility Fund 16,675,139 16,675,139 ‐
Golf Course Fund 2,616,052 2,616,052 ‐
Waterworks Utility Fund 54,811,159 76,817,502 22,006,343
Equipment Repair and Replacement / IT / Facilities /
Communications Fund 16,058,343 19,292,380 3,234,037
Insurance Fund 18,134,895 19,009,895 875,000
Firefighters' Pension 210,475 210,475 ‐
TOTAL 243,543,692$ 342,835,654$ 99,291,962$
NOTE 3. DEPOSITS AND INVESTMENTS
A. Deposits
The City’s deposits and certificates of deposit are insured by the Federal Depository Insurance Corporation
(FDIC) and the State of Washington Public Deposit Protection Commission (WPDPC) Act of 1969.
The City’s deposits with the Local Government Investment Pool (LGIP) are managed by the Washington State
Office of the Treasurer. The LGIP is comparable to a Rule 2a7‐pool recognized by the Securities and Exchange
Commission. A 2a7‐like‐pool is an external investment pool that is not registered with the SEC as an
investment company but nevertheless has a policy that it will, and does, operate in a manner consistent with
the SEC’s Rule 2a7 of the Investment Company Act of 1940. Rule 2a7 allows SEC‐registered mutual funds to
use amortized cost, which approximates fair value, to report net assets and compute share prices.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐29
Reconciliation of Net Position
Investments
The City invests excess and inactive funds in accordance with the City’s Investment Policy (last updated and
approved on February 23, 2009), which complies with the guidelines within Chapter 35A.40.050 of the Revised
Code of Washington (RCW). This allows for investment of excess cash and inactive cash, directs that the
responsibility for determining available cash for investment is placed upon the department administering the
funds, and allows for pooling of the cash provided that the allocation of income is proportionate to the
investment of each fund. Currently, the City invests in obligations of the U.S. Government, U.S. agency issues,
and Certificates of Deposit with Washington State banks and savings and loan institutions as allowed by RCW.
Investments are shown on the Government‐Wide Statement of Net Position at fair value. Investments are
reported within Cash and Investments of Governmental Activities and within Cash and Cash Equivalents or
Investments of Business‐Type Activities.
As of December 31, 2015, the City of Renton had the following investments:
Security Type Cost Fair Value
Weighted
Ave Maturity
(days)Moody's S&P
Certificates of Deposit 18,151,026 18,151,025 166 N/A N/A
Federal National Mortgage Association 15,445,428 15,399,164 384 Aaa AA+
Federal Home Loan Banks 12,006,405 11,994,312 170 Aaa AA+
Federal Farm Credit Banks 5,000,000 4,997,550 88 Aaa AA+
US Treasury STRIP COUPON 1,709,639 2,728,341 1,516 N/A N/A
FNMA Zero Couon 599,278 640,782 267 N/A N/A
TOTAL INVESTMENTS 52,911,776$ 53,911,174$
Credit risk. Credit Risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. The City invests in US Treasury securities which are considered free of credit risk, and in securities
backed by the full faith and credit of the U.S. Government as well as U.S. government sponsored enterprises
including Federal National Mortgage Association, Federal Home Loan Bank, Federal Loan Mortgage
Corporation, and Federal Farm Credit Bank. All certificates of deposit are insured by the FDIC up to $250,000
and, additionally, are 100% collateralized in the multiple financial institution collateral pool administered by
the Washington Public Deposit Protection Commission (WPDPC).
Government‐wide Fiduciary Total
Cash 77,671,023$ 2,697,921$ 80,368,944$
Restricted Cash 2,909,578 ‐ 2,909,578
Cash Equivalents (LGIP) 9,964,141 ‐ 9,964,141
Total Cash & Cash Equivalents 90,544,742 2,697,921 93,242,663
Investments 49,328,531 4,582,643 53,911,174
Total Investments 49,328,531 4,582,643 53,911,174
Total Cash & Investments 139,873,273$ 7,280,564$ 147,153,837$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐30
Security Type
0‐6
months
6 months ‐
1 year
1‐3
years
3+
years Totals
Certificates of Deposit 5,000,000$ 3,058,940$ 10,092,085$ ‐$ 18,151,025$
Federal National Mortgage Associatio n ‐ ‐ 13,550,765 1,848,399 15,399,164
Federal Home Loan Banks ‐ ‐ 11,994,312 ‐ 11,994,312
Federal Farm Credit Banks ‐ ‐ 4,997,550 ‐ 4,997,550
US Treasury STRIP COUPON ‐ 169,682 900,760 1,657,899 2,728,341
FNMA Zero Couon ‐ ‐ ‐ 640,782 640,782
TOTAL INVESTMENTS 5,000,000$ 3,228,622$ 41,535,472$ 4,147,080$ 53,911,174$
Interest Rate Risk. Interest rate risk is the risk that changes in interest rates over time, adversely affecting the
fair value of an investment. The City’s portfolio is managed within the parameters established by the
Investment Policy, which limits the weighted average maturity of the portfolio to five years. The City has one
FHLB bond and one FFCB bond with call provisions that fall in the first six months of 2016.
The City’s Investment Policy directs that the standard of prudence for investment activities shall be the
Prudent Investor Standard that states: “Investments shall be made with judgment and care, under
circumstances then prevailing, which person of prudence, discretion, and intelligence would use in the
management of their own affairs, not for speculation, but for investment purposes, considering the probable
safety of their capital as well as the probable income to be derived.”
Concentration of Credit Risk. Concentration of credit risk is the risk of loss attributed to the magnitude of a
government’s investment in a single issuer. The City diversifies its investment instruments to avoid incurring
unreasonable risk inherent with the over‐investment of instruments and issuers using the following target
distribution as a guide during normal economic times while allowing flexibility when appropriate. The City has
certificate of deposits equal to 28% with First Savings Bank Northwest; however, as stated earlier any risk is
mitigated through the 100% collateralization requirement and guarantee by the State of Washington Public
Deposit Protection Commission. The remaining individual issuers are less than 5% of total investments or are
otherwise excluded from this disclosure due to the low risk nature of the investment.
Target Maximum per Policy
Instrument
Maximum
Issuer
Maximum
U.S. Treasuries 100% 100%
U.S. Agencies 75% 50%
Certificates of Deposit (within WPDPC) 75% 20%
Local Governmental Investment Pool (LGIP) 75% 75%
Commercial Paper 25% 5%
Custodial Credit Risk – investments. Custodial credit risk for investments is the risk that, in the event of the
failure of the counter party to a transaction, a government will not be able to recover the value of investment
or collateral securities that are in the possession of an outside party. All security transactions, including
collateral for repurchase agreements, entered into by the City are conducted on a delivery‐versus‐payment
(DVP) basis and are held in our safekeeping trust account with Bank of New York with terms negotiated by the
State of Washington.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐31
NOTE 4. PROPERTY TAXES
The King County Finance Director acts as an agent to collect property taxes levied in the county for all taxing
authorities. Taxes are levied annually, January 1, on property value listed as of the prior August 31. Assessed
values are established by the King County Assessor at 100 percent of fair market value. A revaluation of all
property is required every two years; however, King County has the ability to revalue annually.
Property taxes levied by the King County Assessor and collected by the King County Finance Director become a
lien on the first day of the levy year and may be paid in two equal installments if the total amount exceeds
$30. The first half of real property taxes is due on April 30 and the balance is due October 31. Delinquent
taxes bear interest at the rate of 12 percent and are subject to additional penalties if not paid as scheduled.
No allowance for uncollectible taxes is established because delinquent taxes are considered fully collectible.
At year‐end, property taxes are recorded as a receivable with the portion not expected to be collected within
60 days offset by unavailable revenue. During the year, property tax revenues are recognized when cash is
received.
The tax rate for general City operations is limited to $3.10 per $1,000 of assessed value (RCW 84.52.043). This
reflects a reduction of $0.50 per $1,000 as a result of the annexation to the King County Library System. In
addition to this amount, up to $0.225 (22.5 cents) per $1,000 may be designated for contribution to the
Firemen’s Pension Fund. If a report by a qualified actuary on the condition of the Firemen’s Pension Fund
establishes that this amount (or portion of) is not necessary to maintain the actuarial soundness of the fund,
the amount can be used for any other municipal purpose (RCW 41.16.060).
The tax rate limit may be reduced for any of the following reasons:
1. The Levy Limit: the levy limit calculation applies to a taxing district’s budget, and not to increases in
the assessed value or tax bill of individual properties. Initiative 747 which restricted individual taxing
districts from collecting, in any year, more than a one percent increase in their regular, non‐voted, levy
over the highest levy amount since 1985 was overturned by the courts. However during 2007, the state
legislature reinstated this limit with the passage of HB2416. New construction, annexations, and excess
levies approved by the voters are not included in the levy limit calculation. If the assessed valuation
increases by more than one percent due to revaluation, the levy rate will be decreased.
2. The One Percent Constitution Limit: The Washington State Constitution limits the regular (non‐voted)
combined property tax rate applied to an individual’s property to one percent ($10 per $1,000) on the
market valuation. Voters may approve special levies that are added to this figure. If the taxes of all
districts exceed this amount, each is proportionately reduced until the total is at or below the one percent
limit.
3. The City may voluntarily levy taxes below the legal limit.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐32
Special levies approved by the voters are not subject to the above limitations. There is currently no excess
levy for General Obligation Bond debt. The City’s regular levy per the King County Assessor’s 2015 Annual
Report is $2.83.
NOTE 5. CAPITAL ASSETS AND DEPRECIATION
Depreciation and amortization was charged to the functions as follows:
Depreciation Amortization Total
General Government $ 1,178,792 $ ‐ 1,178,792$
Judicial ‐ 6,700 6,700
Public Safety 890,340 1,529 891,869
Physical Environment 460,939 ‐ 460,939
Transportation 5,086,781 11,657 5,098,438
Economic Development 497,399 ‐ 497,399
Culture and Recreation 1,375,220 4,274 1,379,494
Health and Human Services 51,386 ‐ 51,386
Internal Service Funds (General Governmental) 2,177,866 133,146 2,311,012
$ 11,718,723 $ 157,306 $ 11,876,029
Depreciation Amortization Total
Waterworks $ 8,444,684 $ 49,652 8,494,336$
Airport 1,056,721 ‐ 1,056,721
Golf Course 244,112 ‐ 244,112
$ 9,745,517 $ 49,652 $ 9,795,169
Total‐Governmental Activities
Total‐Business‐Type Activities
Governmental Activities
Business‐Type Activities
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐33
Capital asset activity for the year ended December 31, 2015 was as follows:
Beginning Ending
Balance Increases Decreases Reallocation Balance
Governmental activities :
Capital assets, not being depreciated:
Land and land improvements $ 203,649,159 $ 1,197,454 $ ‐ $ 6,245 $ 204,852,858
Construction in progress 42,935,474 17,485,657 7,228 (3,684,377) 56,729,526
Total capital assets, not being depreciated 246,584,633 18,683,111 7,228 (3,678,132) 261,582,384
Capital assets, being depreciated:
Buildings and structures 95,277,562 956,418 35,555 399,228 $ 96,597,653
Other improvements 253,055,485 4,686,245 ‐ 3,136,900 260,878,630
Machinery and equipment 35,867,825 4,326,412 1,968,700 6,491 38,232,028
Total capital assets being depreciated 384,200,872 9,969,075 2,004,255 3,542,619 395,708,311
Less accumulated depreciation for:
Buildings and structures 37,806,043 2,492,223 35,555 ‐ $ 40,262,711
Other improvements 77,255,763 6,666,446 ‐ ‐ 83,922,209
Machinery and equipment 25,425,060 2,560,054 1,565,659 ‐ 26,419,455
Total accumulated depreciation 140,486,866 11,718,723 1,601,214 ‐ 150,604,375
Total capital assets, being depreciated, net 243,714,006 (1,749,648) 403,041 3,542,619 245,103,936
Intangible Assets:
Intangible assets, being amortized 5,549,795 62,575 ‐ 135,513 5,747,883
Less accumulated amortization 5,038,306 157,306 ‐ ‐ 5,195,612
Total intangible asset, being amortized, net 511,489 (94,731) ‐ 135,513 552,271
Total Intangible assets 511,489 (94,731) ‐ 135,513 552,271
Governmental activities capital assets, net $ 490,810,128 $ 16,838,732 $ 410,269 $ ‐ $ 507,238,591
Business‐type activities:
Capital assets, not being depreciated:
Land and land improvements $ 6,163,465 $ ‐ $ 13,409 $ ‐ $ 6,150,056
Construction in progress 20,321,109 5,636,899 500,883 (12,802,536) 12,654,589
Total capital assets, not being depreciated 26,484,574 5,636,899 514,292 (12,802,536) 18,804,645
Capital assets, being depreciated:
Buildings and structures 17,459,973 ‐ ‐ ‐ 17,459,973
Other improvements 371,173,052 18,014,330 311,435 12,802,536 401,678,483
Machinery and equipment 2,861,545 32,621 ‐ ‐ 2,894,166
Total capital assets being depreciated 391,494,570 18,046,951 311,435 12,802,536 422,032,622
Less accumulated depreciation for:
Buildings and structures 7,191,875 444,921 ‐ ‐ 7,636,796
Other improvements 121,857,795 9,184,772 117,709 ‐ 130,924,858
Machinery and equipment 1,853,821 115,824 ‐ ‐ 1,969,645
Total accumulated depreciation 130,903,491 9,745,517 117,709 ‐ 140,531,299
Total capital assets, being depreciated, net 260,591,079 8,301,434 193,726 12,802,536 281,501,323
Intangible Assets:
Intangible assets, not being amortized 811,000 ‐ ‐ ‐ 811,000
Intangible assets, being amortized 527,222 ‐ ‐ 527,222
Less accumulated amortization 153,766 49,652 ‐ ‐ 203,418
Total intangible asset, being amortized, net 373,456 (49,652) ‐ ‐ 323,804
Total Intangible assets 1,184,455 (49,652) ‐ ‐ 1,134,803
Business‐type activities capital assets, net $ 288,260,108 $ 13,888,681 $ 708,018 $ ‐ $ 301,440,771
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐34
At the end of 2015, a total of 65 projects comprise the Construction in Progress. Upon completion, the
projects will be reallocated to their appropriate categories.
Construction commitments as of December 31, 2015, are as follows:
Governmental Activities Projects:
Construction
in progress
Remaining
Commitment
S 7TH ST 1,141,937$ 249,662$
LOGAN AVE S 1,785,273 3,481,047
SUNSET LANE 407,238 257,330
HIGHLANDS LIBRARY 9,146,916 980,015
LAKE WASHINGTON LOOP TRAIL 117,689 462,205
HIGHLANDS TO LANDING 2,429,847 346,699
NE 31ST ST CULVERT 1,120,895 ‐
SUNSET BLVD CORRIDOR 371,796 ‐
116TH AVE SE IMPROVEMENTS 38,539 46,352
MAIN AVE S DOWNTOWN CIRCLE 196,899 219,883
CARR ROAD IMPROVEMENTS 137,092 18,656
DUVALL AVE NE PRESERVATION 94,974 99,192
RAINIER AVE PHASE 4 48,084 47,449
SW GRADY WAY PRESERVATION 887,839
NE 31st BRIDGE REPLACEMENT 34,971 87,409
N 27TH PL CULVERT SCOUR REPAIR 4,157 17,117
NEW WORLD TRACKING SYSTEM 28,797 ‐
STRANDER BLVD ‐ SW 27TH ST CONNECT 25,482,217 578,966
CEDAR RIVER LIBRARY 7,794,711 1,246,660
200 MILL BLDG THIRD FLOOR AMAZING GRACE 5,552 ‐
RENTON HISTORICAL MUSEUME 1,210 ‐
COULON CCTV SYSTEM 5,231 ‐
CED PERMIT AREA RECONFIGURATION 36,415 ‐
CASCADE CENTER 2,000 ‐
REGIS PARK ATHLETIC FIELD EXPANSION 18,892 33,336
SUNSET EIS PARK LAND 3,202,434 ‐
KENYON PROPERTY BUILDING 62,014 ‐
HEALTHBEAT ELIPTICAL 7,568 ‐
HEALTHBEAT CHEST/BACK PRESS 5,420 ‐
NORTH HIGHLANDS COMMUNITY GARDEN 2,440 ‐
ELIPTICAL CARDIO STEPPERS FOR LIBERTY PARK (3) 18,631 ‐
FLETCHER ACQUISTION 2,750 ‐
MAY VALLEY MEADOWS ACQUISTION 3,500 ‐
MEADOWCREST NATURE AREA 26,818 ‐
RIVERVIEW BRIDGE REPLACEMENT 1,262,736 ‐
COULON PARK PAVER REPLACEMENT 748,360 ‐
RCC GYM REMOVABLE CARPET 25,950 ‐
POLICE SUBSTATION HVAC 21,734 ‐
Total governmental activities 56,729,526$ 8,171,978$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐35
Business‐Type Activities Projects:
Construction
in progress
Remaining
Commitment
TRANSMISSION MAIN REPLACEMENT 40,266$ ‐$
LOWER BLAST FENCE 1,452,182 ‐
HIGHLANDS 435 RESERVOIR REPLACEMENT 425,912 ‐
TELEMETRY IMPROVEMENT 459,092 55,583
RENTON HILL MAIN REPLACEMENT 158,850 ‐
N 30TH ST/BURNETT AVE N 59,046 ‐
TALBOT HILL 281,387 180,489
HARDIE AVE UNDERPASS STORM SYSTEM IMPROVEMENT 3,641,099 ‐
MAPLEWOOD PUMP STATION ROOF REPLACEMENT 33,756 ‐
LOGAN AVE WATER MAIN 29,873 ‐
MAPLEWOOD EQUIPMENT ACCESS & H2S MITIGATION 275,395 ‐
HIGHLANDS WATER MAIN IMPROVEMENT 287,337 ‐
RENTON AEROSPACE TRAINING CENTER UTILITIES 142,481 ‐
TRANS MAIN REPLACEMENT SR 169 RAMP TO 405 3,994 ‐
FORCE MAIN REHAB/REPLACEMENT 2,591 ‐
HARRINGTON AVE NE GREEN CONNECTIONS 1,476,719 ‐
FLUORIDE BUILDING ROOF REPLACEMENT 37,408 ‐
MAPLEWOOD CREEK BASIN STORM IMPROVEMENT 597,593 ‐
WELLS 1, 2 & 3 ROOF REPLACEMENT 95,315
CASCADE INTERCEPTOR RESTORATION 3,302 752,904
THUNDER HILLS SANITARY 365,779 ‐
2015 SANITARY SEWER REHAB/REPLACEMENT 138,470 ‐
CENTRAL RENTON 24,884 393,970
AIRPORT OFFICE REHAB 36,714 ‐
NE 5TH & EDMONDS STORM SYSTEM 1,628,161 ‐
SUNSET TERRACE REGIONAL STORMWATER FACILITY 831,194 102,664
HARRINGTON AVE RETROFIT 125,789 ‐
Total business ‐type activities 12,654,589$ 1,485,610$
NOTE 6. PENSION PLANS
The City implemented Statements No. 68 and 71 of the Governmental Accounting Standards Board (GASB)
Accounting and Financial Reporting for Pensions for the year ending December 31, 2015.
For purposes of measuring the net pension liability/asset, deferred outflows of resources and deferred inflows
of resources related to pensions, and pension expense, information about the fiduciary net position of the
Plans and additions to/deductions from the Plan’s fiduciary net position have been determined on the same
basis as they are reported by the State of Washington Department of Retirement Systems (DRS). For this
purpose, benefit payments (including refunds of employee contributions) are recognized when due and
payable in accordance with the benefit terms. Investments are reported at fair value.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐36
General Information about the Pension Plans
With the exception of firefighters employed prior to March 1, 1970, substantially all the City’s full‐time and
qualifying part‐time employees are eligible to participate in one of the following statewide retirement systems
administered by the Washington State Department of Retirement Systems:
Public Employees’ Retirement System (PERS) Plans 1, 2, and 3
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF) Plans 1 and 2
Public Safety Employees’ Retirement System (PSERS) Plan 2
The Department of Retirement Systems (DRS), a department within the primary government of the State of
Washington, issues a publicly available comprehensive annual financial report (CAFR) that includes financial
statements and required supplementary information for each plan. The DRS CAFR may be obtained by
contacting the Washington State Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504‐
8380; or online from the DRS website at www.drs.wa.gov.
The City is the administrator of the Firefighters’ Pension Plan for all firefighters employed prior to March 1,
1970. The Firefighters’ Pension Plan is included within the City of Renton’s statements as a pension trust fund.
There is no separate GAAP‐based audited report. A schedule of employer contributions, prepared by
Milliman, Inc. is included in the Required Supplemental Information section. Additional information from the
actuarial report prepared for the Firefighters’ Pension Plan, by Milliman, Inc., may be obtained by contacting
the City of Renton, Finance Division, 1055 South Grady Way, Renton, WA 98057.
A. State Sponsored Pension Plans
Public Employees’ Retirement System (PERS)
Plan description. PERS was established by the state legislature in 1947 under the Revised Code of Washington
(RCW) chapter 41.40. PERS is a multiple‐employer cost‐sharing retirement system. Membership in the system
includes: elected officials; state employees; employees of the Supreme, Appeals, and Superior Courts (other
than judges currently in a judicial retirement system); employees of legislative committees; community and
technical colleges, college and university employees not in national higher education retirement programs;
judges of district and municipal courts; and employees of local governments.
PERS consists of three plans. PERS participants, who joined the PERS system by September 30, 1977, are Plan 1
members. Plan 1 is closed to new members. Those who joined on or after October 1, 1977; and by either,
February 28, 2002 for state and higher education employees, or August 31, 2002 for local government
employees, are Plan 2 members unless they exercise an option to transfer their membership to Plan 3. PERS
participants joining the system on or after March 1, 2002 for state and higher education employees, or
September 1, 2002 for local government employees, have the irrevocable option of choosing membership in
either PERS Plan 2 or PERS Plan 3. The option must be exercised within 90 days of employment. An employee
is reported in Plan 2 until a choice is made. Employees who fail to choose within 90 days default to PERS Plan
3.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐37
Benefits provided. PERS plans provide retirement, disability, and death benefits to eligible members.
PERS Plan 1 members are vested after the completion of five years of eligible service. Plan 1 members are
eligible for retirement after 30 years of service, or at the age of 60 with five years of service, or at the age of
55 with 25 years of service. The monthly benefit is two percent of the average final compensation (AFC) per
year of service, capped at sixty percent. The AFC is the average of the member’s 24 highest consecutive
service months. Plan 1 members who retire from inactive status prior to the age of 65 may receive actuarially
reduced benefits. Plan 1 members may elect to receive an optional cost of living allowance (COLA) that
provides an automatic annual adjustment based on the Consumer Price Index. The adjustment is caped at
three percent annually. To offset the cost of this annual adjustment the benefit is reduced.
PERS Plan 2 members are vested after completion of five years of eligible service. Plan 2 members are eligible
for normal retirement at the age of 65 with five years of service. The monthly benefit is two percent of the
AFC per year of service. There is no cap on years of service credit and a COLA is granted based on the
Consumer Price Index, capped at three percent annually. The AFC is the average of the member’s 60 highest
paid consecutive months. Plan 2 members have the option to retire early with reduced benefits.
PERS Plan 3 has a dual benefit structure. Employer contributions finance a defined benefit component, and
member contributions finance a defined contribution component. The defined benefit portion provides
members a monthly benefit that is one percent of the AFC per year of service. There is no cap on years of
service credit. Plan 3 provides the same COLA as Plan 2. The AFC is the average of the member’s 60 highest
paid consecutive months. Effective June 7, 2006, Plan 3 members are vested in the defined benefit portion of
their plan after ten years of service; or after five years of service, if twelve months of that service are earned
after age 44; or after five service credit years earned in PERS Plan 2 by June 1, 2003. Plan 3 members are
immediately vested in the defined contribution portion of their plan.
The Judicial Benefit Multiplier (JBM) Program began January 1. 2007. This program gave eligible justices and
judges an option to increase the benefit multiplier used in their retirement benefit calculation for their judicial
service period of employment. Beginning January, 2007, any justice or judge who was in a judicial position at
that time could choose to join JBM. Any justice or judge elected or appointed to office on or after January 1,
2007, who elects to join DRS membership will also be mandated into JBM. If they have already established
membership in PERS or TRS Plan 1 they will rejoin that plan, but if they have never had membership they will
be enrolled as a member of both PERS Plan 2 and JBM.
Contributions. PERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council adopts
Plan 1 employer contribution rates, Plan 2 employer and employee contribution rates, and Plan 3 employer
contribution rates. The methods used to determine contribution requirements are established under state
statute.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐38
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2015, were as follows:
Required Contribution Rates Employer Employee
Plan 1P l a n 2P l a n 3P l a n 1P l a n 2P l a n 3
PERS
Members not participating in JBM
State agencies, local governmental units 11.00% 11.00% 11.00% 6.00% 6.12% **
Administrative fee 0.18% 0.18% 0.18%
Total 11.18% 11.18% 11.18% *
Members participating in JBM
Local governmental units 11.00% 11.00% 11.00% 12.26% 15.30% 7.5%***
Administrative fee 0.18% 0.18% 0.18%
Total 11.18% 11.18% 11.18% *
*P l a n 3 defined benefit portion only.
** Variable from 5% to 15% based on rate selected by the member.
*** Minimum rate.
Public Safety Employee’s Retirement System (PSERS)
Plan description. The PSERS system was created by the 2004 Legislature and became effective July 1, 2006
under RCW 41.37. PSERS is a multiple‐employer cost‐sharing retirement system comprised of a single defined
benefit plan, PSERS Plan2. PSERS membership includes full‐time employees meeting specific eligibility criteria
that are employed by Department of Corrections, Department of Natural Resources, Gambling Commissions,
Liquor Control Board, Parks and Recreation Commission, Washington State Patrol, Washington state counties,
corrections departments of Washington state cities except for Seattle, Tacoma, and Spokane, or correctional
entities formed by PSERS employers under the Interlocal Cooperation Act.
Benefits provided. PSERS provides retirement, disability, and death benefits to eligible members. PSERS
members are vested after an employee completes five years of eligible service, PSERS members may retire at
the age of 65 with five years of service, or at the age of 60 with at least ten years of PSERS service credit, or at
age 53 with twenty years of service with a monthly benefit of two percent of the average final compensation
(AFC). A cost of living allowance (COLA) is granted based on the Consumer Price Index, capped at three
percent annually. The AFC is the average of the member’s 60 highest paid consecutive months.
PSERS members have the option to retire early with reduced benefits. PSERS members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these options
are available to their survivors, generally with reduced benefits.
Contributions. PSERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council adopts
Plan 2 employer and employee contribution rates. The employer and employee contribution rates for Plan 2
are developed by the Office of the State Actuary to fully fund Plan 2. The methods used to determine the
contribution requirements are established under state statute.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐39
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2015, were as follows:
Required Contribution Rates Employer Employee
Plan 2P l a n 2
PSERS
State agencies, local governmental units 11.36% 6.59%
Administrative fee 0.18%
Total 11.54%
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF)
Plan description. LEOFF was established by the state legislature in 1970 under the Revised Code of
Washington (RCW) chapter 41.26. LEOFF is a multiple‐employer cost‐sharing retirement system. Membership
in the system includes all full‐time, fully compensated, local law enforcement commissioned officers,
firefighters, and as of July 24, 2005, emergency medical technicians. LEOFF membership is comprised primarily
of non‐state employees, with Department of Fish and Wildlife enforcement officers who were first included
effective July 27, 2003, being an exception.
LEOFF consists of two separate defined benefit plans. LEOFF participants who joined the system by September
30, 1977, are Plan 1 members. Plan 1 is closed to new members. Those who joined on or after October 1,
1977, are Plan 2 members.
Effective July 1, 2003, the LEOFF Plan 2 Retirement Board was established by Initiative 790 to provide
governance of LEOFF Plan 2. The Board’s duties include adopting contribution rates and recommending policy
changes to the Legislature for the LEOFF Plan 2 retirement plan.
Benefits provided. LEOFF plans provide retirement, disability, and death benefits to eligible members.
LEOFF Plan 1 members are vested after the completion of five years of eligible service. Plan 1 members are
eligible for retirement with five years of service at the age of 50. The benefit per year of service calculated as
a percent of final average salary (FAS) is as follows:
Term of Service
Percent of
Final
Average Salary
20 or more years 2.0%
10 but less than 20
years
1.5%
5 but less than 10 years 1.0%
A cost of living allowance (COLA) is granted based on the Consumer Price Index.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐40
LEOFF Plan 2 members are vested after the completion of five years of eligible service. Plan 2 members are
eligible for retirement at the age of 53 with five years of service, or at age 50 with twenty years of service.
Plan 2 members receive a benefit of two percent of the FAS per year of service. FAS is based on the highest
consecutive 60 months. A COLA is granted based on the Consumer Price Index, capped at three percent
annually.
LEOFF members have the option to retire early with reduced benefits. LEOFF members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these options
are available to their survivors, generally with reduced benefits.
Contributions. LEOFF defined benefit retirement benefits are financed from a combination of investment
earnings, employer and employee contributions, and a special funding situation in which the state pays
through state legislative appropriations.
Employer and employee contribution rates are developed by the Office of the State Actuary to fully fund the
plans. Starting on July 1, 2000, Plan 1 employers and employees are not required to contribute as long as the
plan remains fully funded. Plan 2 employers and employees are required to pay at the level adopted by the
LEOFF Plan 2 Retirement Board. The methods used to determine contribution requirements are established
under state statute.
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2015, were as follows:
Required Contribution Rates Employer Employee
Plan 1P l a n 2P l a n 1P l a n 2
LEOFF
Local governmental units N/A 5.05% N/A 8.41%
Administrative fee 0.18% 0.18%
Total 0.18% 5.23%
N/A Indicates data not applicable.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
As of June 30, 2015, the City reported its proportionate share of the net pension liability/(asset) as follows:
Liability Asset
PERS Plan 1 14,428,474$ ‐$
PERS Plan 2/3 12,329,619 ‐
PSERS Plan 2 7,846 ‐
LEOFF Plan 1 ‐ (2,770,622)
LEOFF Plan 2 ‐ (9,812,561)
Total 26,765,939$ (12,583,183)$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐41
The amount of the liability/(asset) reported above for LEOFF Plan 2 reflects a reduction for the City’s collective
liability to be paid by the State. The City recognized $556,971 as contribution revenue for the State’s on
behalf payment for 2015. The amount recognized by the City as its proportionate share of the net pension
liability/(asset), the portion of the City’s net pension liability/(asset) to be paid by the State, and the total
portion of the net pension liability/(asset) that was associated with the City were as follows:
Liability/(Asset)
LEOFF Plan 2 ‐ employer's proportionate
share (9,812,561)$
LEOFF Plan 2 ‐ State's proportionate share
of the net pension liability/(asset)
associated with the employer (925,241)
TOTAL (10,737,802)$
The collective net pension liability was measured as of June 30, 2015, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of June 30, 2014, with the
results rolled forward to June 30, 2015 using standard update procedures. Employer contribution transmittals
received and processed by the DRS for the fiscal year ended June 30 are used as the basis for determining
each employer’s proportionate share of the collective pension amounts reported by the DRS in the Schedules
of Employer and Nonemployer Allocations for all plans except LEOFF Plan 1. LEOFF Plan 1 allocation
percentages are based on the total historical employer contributions to LEOFF Plan 1 from 1971 through 2000
and the retirement benefit payments in fiscal year 2015. Historical data was obtained from a 2011 study by
the office of the State Actuary (OSA). In the fiscal year 2015, the state of Washington contributed 87.12
percent of LEOFF Plan 1 employer contributions and all other employers contributed the remaining 12.88
percent of employer contributions. LEOFF Plan 1 is fully funded and no further employer contributions have
been required since June 2000. If the plan becomes underfunded, funding of the remaining liability will
require new legislation. The allocation method the plan chose reflects the projected long‐term contribution
effort based on historical data. At June 30, 2015, the City’s proportionate share of the collective net pension
liabilities was as follows:
Proportionate Share Proportionate Share Change in
6/30/2014 6/30/2015 Proportion
PERS Plan 1 0.273241% 0.275830% 0.002589%
PERS Plan 2/3 0.337183% 0.345072% 0.007889%
PSERS Plan 2 0.046443% 0.042991%‐0.003452%
LEOFF Plan 1 0.225836% 0.229885% 0.004049%
LEOFF Plan 2 0.947521% 0.954715% 0.007194%
For the year ended December 31, 2015 the City recognized pension expense as follows:
Pension Expense
PERS Plan 1 862,703$
PERS Plan 2/3 1,571,727
PSERS Plan 2 5,406
LEOFF Plan 1 (578,812)
LEOFF Plan 2 258,974
Total 2,119,998$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐42
At December 31, 2015, the City reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:
Deferred Outflows of Resources PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2T o t a l
Differences between expected and
actual experience ‐$ 1,310,642$ 7,351$ ‐$ 859,253$ 2,177,246$
Changes of assumptions ‐ 19,866 49 ‐ 25,882 45,797
Net difference between projected
and actual earnings on pension
plan investments ‐ ‐ ‐ ‐ ‐ ‐
Changes in proportion and
differences between City
contributions and proportionate ‐ ‐ ‐ ‐ ‐ ‐
City contributions subsequent to
the measurement date 822,360 1,068,558 8,262 ‐ 781,938 2,681,118
Total 822,360$ 2,399,066$ 15,662$ ‐$ 1,667,073$ 4,904,161$
Deferred Inflows of Resources PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2T o t a l
Differences between expected and
actual experience ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Changes of assumptions ‐ ‐ ‐ ‐ ‐ ‐
Net difference between projected
and actual earnings on pension
plan investments 789,395 3,291,424 3,892 467,736 2,973,154 7,525,601
Changes in proportion and
differences between City
contributions and proportionate
share of contributions ‐ ‐ ‐ ‐ 122,434 122,434
City contributions subsequent to
the measurement date ‐ ‐ ‐ ‐ ‐ ‐
Total 789,395$ 3,291,424$ 3,892$ 467,736$ 3,095,588$ 7,648,035$
For PERS Plan 1, $822,360, for PERS Plan 2/3, $1,068,558, for PSERS Plan 2, $8,262, and for LEOFF Plan 2
$781,938, reported as deferred outflows of resources related to contributions resulting from city contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ended December 31, 2016.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized as pension expense as follows:
Differences Between Projected and Actual Earnings on Plan Investments
Year PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2016 (305,942)$ (1,284,962)$ (1,553)$ (181,499)$ (1,162,251)$
2017 (305,942) (1,284,962) (1,553) (181,499) (1,162,251)
2018 (305,942) (1,284,962) (1,554) (181,499) (1,162,260)
2019 128,431 563,462 768 76,761 513,608
Total (789,395)$ (3,291,424)$ (3,892)$ (467,736)$ (2,973,154)$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐43
Differences Between Expected and Actual Experience
Year PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2016 ‐$ 385,483$ 1,225$ ‐$ 165,242$
2017 ‐ 385,483 1,225 ‐ 165,242
2018 ‐ 385,483 1,225 ‐ 165,242
2019 ‐ 154,193 1,225 ‐ 165,242
2020 ‐ ‐ 1,225 ‐ 165,242
2021 ‐ ‐ 1,226 ‐ 33,043
Total ‐$ 1,310,642$ 7,351$ ‐$ 859,253$
Changes of Assumptions
Year PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2016 ‐$ 5,842$ 8$ ‐$ 4,974$
2017 ‐ 5,842 8 ‐ 4,974
2018 ‐ 5,842 8 ‐ 4,974
2019 ‐ 2,340 8 ‐ 4,974
2020 ‐ ‐ 8 ‐ 4,984
2021 ‐ ‐ 9 ‐ 1,002
Total ‐$ 19,866$ 49$ ‐$ 25,882$
Changes in Proportion and Differences Between City Contributions and Proportionate Share of Contributions
Year PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2016 ‐$ ‐$ ‐$ ‐$ 30,609$
2017 ‐ ‐ ‐ ‐ 30,609
2018 ‐ ‐ ‐ ‐ 30,609
2019 ‐ ‐ ‐ ‐ 30,607
‐$ ‐$ ‐$ ‐$ 122,434$
Actuarial assumptions. The total pension liability was determined using the following actuarial assumptions.
Inflation 3.00%
Salary Increases 3.75%
Investment rate of return 7.50%
Mortality rates were based on the RP‐2000 Combined Healthy Table and Combined Disabled Table published
by the Society of Actuaries. The Office of the State Actuary applied offsets to the base table and recognized
future improvements in mortality by projecting the mortality rates using 100 percent Scale BB. Mortality rates
are applied on a generational basis meaning members are assumed to receive additional mortality
improvements in each future year, throughout their lifetime.
The actuarial assumptions used in the June 30, 2014, valuation were based on the results of the 2007‐2012
Experience Study Report. Additional assumptions for subsequent events and law changes are current as of the
2014 actuarial valuation report.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐44
The long‐term expected rate of return on pension plan investments was determined using a building‐block
method in which the WSIB develops best estimate of expected future rates of return (expected returns net of
pension plan investment expense but including inflation) for each major asset class. Those expected return
make up one component of WSIB’s Capital Market Assumptions (CMAs). The CMAs contain the following
three pieces of information for each class of assets the WSIB currently invest in:
Expected annual return
Standard deviation of the annual return
Correlations between the annual returns of each asset class with every other asset class
The WSIB uses the CMAs and their target asset allocation to stimulate future investment returns over various
time horizons.
The long‐term expected rate of return of 7.5 percent approximately equals the median of the simulated
investment returns over a fifty‐year time horizon, adjusted to remove or dampen any short‐term changes to
WSIB’s CMAs that aren’t expected over the entire fifty year measurement period.
Best estimates of arithmetic real rates of return for each major asset class included in the pension plan’s
target asset allocation as of June 30, 2015, are summarized in the following table:
Asset Class Target Allocation
Lont‐Term Expected
Real Rate of Return
Fixed Income 20.00% 1.70%
Tangible Assets 5.00% 4.40%
Real Estate 15.00% 5.80%
Global Equity 37.00% 6.60%
Private Equity 23.00% 9.60%
The inflation component used to create the table above is 2.20 percent, and represents WSIB’s most recent
long‐term estimate of broad economic inflation.
Discount rate. The discount rate used to measure the total pension liability was 7.50 percent. To determine
the discount rate, an asset sufficiency test included an assumed 7.70 percent long‐term discount rate to
determine funding liabilities for calculating future contribution rate requirements. Consistent with the long‐
term expected rate of return, a 7.50 percent future investment rate of return on invested assets was assumed
for the test.
Contributions from plan members and employers are assumed to continue to be made at contractually
required rates (including PERS Plan 2/3, PSERS Plan 2, and SERS Plan2/3 employers, whose rates include a
component for the PERS Plan1 liability). Based on those assumptions, the pension plan’s fiduciary net position
was projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long‐term expected rate of return of 7.50 percent on pension plan investments was applied to
determine the total pension liability.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐45
Sensitivity of the Net Pension Liability/(Asset) to Changes in the Discount Rate. The following presents the
City’s proportionate share of the net pension liability/(asset), calculated using the discount rate of 7.50
percent, as well as what the net pension liability/(asset) would be if it were calculated using a discount rate
that is one percentage point lower (6.50 percent) or one percentage point higher (8.50 percent) than the
current rate.
1% Decrease
6.50%
Current
Discount Rate
7.50%
1% Increase
8.50%
PERS Plan 1 17,565,705$ 14,428,474$ 11,729,883$
PERS Plan 2/3 36,052,446$ 12,329,619$ (5,834,060)$
PSERS Plan 2 59,624$ 7,846$ (28,985)$
LEOFF Plan 1 (1,772,514)$ (2,770,622)$ (3,621,323)$
LEOFF Plan 2 9,826,643$ (9,812,561)$ (24,591,807)$
B. Firefighters’ Pension
Plan description. The Firefighters’ Plan (Plan) is a closed, single‐employer defined benefit pension plan
administered by the City of Renton through the firefighters’ pension board. The plan provides pensions for
firefighters that were employed prior to March 1, 1970, when the LEOFF retirement system was established.
The plan is closed to new members.
Benefits provided. All benefit terms are in statutes RCW 41.16, 41.18, and 41.26. The Firefighters’ Pension
Fund (FPF) provides retirement, disability, and death benefits. Each firefighter in service on March 1, 1970
receives the greater of the benefit payable under the Washington Law Enforcement Officers’ and Firefighters’
Retirement (LEOFF) System and the benefits available under the provisions of prior law. Where benefits under
the old law exceed those under the new law for any firefighter, the excess benefits are paid from the FPF of
the city employing the member on March 1, 1970.
All members are retired and drawing benefits. Benefit terms provide for cost‐of‐living adjustments to each
member’s retirement benefit. There are two types of increases: escalation by salary in proportion to current
salary of rank from which the firefighter retired or increase proportionate to the increase in the Seattle‐area
consumer price index, with the change computed annually. Regardless of the change in the consumer price
index, benefits are increased at least two percent each year. The former applies to firefighters who retired
from service after 1969, their survivors, and to firefighters who retired from duty disability (but not their
survivors) after 1961. The latter applies to all other types of monthly benefits. Benefits and refunds of the
Plan are recognized when due and payable in accordance with the terms of the Plan.
At December 31, 2015, the following employees were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 25
Inactive employees or beneficiaries receiving full retirement through LEOFF 5
Total 30
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐46
Contributions. As long as the FPF provides for benefits to covered members, the City will be eligible to receive
a share of the State’s distribution of the fire insurance premium taxes. The amount the City receives is 25% of
all monies received by the State from taxes on fire insurance premiums. Contributions can also come from
taxes paid pursuant to the provisions of RCW 41.16.060. This statute requires that each municipality levy up
to $0.45 (only $0.225 of which can be in excess of the property tax limit pursuant to RCW 84.52.043) per
$1,000 of assessed valuation, based on reports by a qualified actuary, to maintain the fund.
Net Pension Liability/(Asset)
The City’s net pension liability was measured as of December 31, 2015, and the total pension liability used to
calculate the net pension liability/(asset) of $(6,406,533) was determined by an actuarial valuation as of that
date.
Actuarial assumptions. The total pension liability was determined by an actuarial valuation as of December
31, 2015, using the following actuarial assumptions:
Inflation 2.25%
Salary increases 2.50% for 2015 and 3.25% thereafter
Investment rate of return 3.50%
Actuarial cost method Entry age normal
Mortality rates were based on the RP‐2000 Mortality Table (combined healthy) with generational projection
using 100% of Projection Scale BB, with ages set back one year for males and forward one year for females (set
forward two years for disabled members).
The long‐term expected rate of return on pension plan investments was determined using a building‐block
method in which best estimate ranges of expected future real rates of return (expected returns, net of
pension plan investment expense and inflation) are developed. We used the weighted expected returns of
the City’s portfolio of cash, US Treasuries (to be held to maturity), and receivables to develop the long‐term
expected rate of return.
The best‐estimate range for the long‐term expected rate of return for each major asset class included in the
pension plan’s target asset allocation as of December 31, 2015, are summarized in the following table:
Asset Class Index
Long ‐Term Expected Real
Rate of Return
Cash Citigroup 90‐Day T‐Bills 0.65%
Short‐Term Bonds Citigroup 1‐3 Year Gov/Cred 1.49%
Long‐Term Bonds Barclays Long Gov/Cred 3.05%
Assumed Inflation ‐ Mean 2.25%
Long‐Term Expected Rate of Return 3.50%
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐47
Discount rate. The discount rate used to measure the total pension liability was 3.50 %. The projection of
cash flows used to determine the discount rate assumed City contributions were equal to revenue received
from Fire Insurance premiums and the amount received would increase at the inflation rate of 2.25%. Based
on this assumption, the pension plan’s fiduciary net position was projected to be available to make all
projected future benefit payment of current plan members. Therefore, the long‐term expected rate of return
on pension plan investments was applied to all periods of projected benefit payments to determine the total
pension liability.
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(a) ‐ (b)
Balances at January 1, 2014 3,220,653$ 9,467,775$ (6,247,122)$
Changes for the Year
Interest on total pension liability 109,164 ‐ 109,164
Benefit payments (205,147) (205,147) ‐
Contributions from state fire insurance
premium tax ‐ 146,358 (146,358)
Net investment income ‐ 133,991 (133,991)
Administrative expenses ‐ (11,775) 11,775
Balances at December 31,2015 3,124,670$ 9,531,202$ (6,406,532)$
Sensitivity of the net pension liability to changes in the discount rate. The following presents the net pension
liability of the City, calculated using the discount rate of 3.50%, as well as what the City’s net pension liability
would be if it were calculated using a discount rate that is one percentage point lower (2.50%), or one
percentage point higher (4.50%), that the current rate.
1% Decrease
2.50%
Current
Discount Rate
3.50%
1% Increase
4.50%
Total Pension Liability 3,402,437$ 3,124,670$ 2,882,845$
Fiduciary Net Position 9,531,202 9,531,202 9,531,202
Net Pension Liability (6,128,765) (6,406,532) (6,648,357)
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐48
Pension Expense and Deferred Outflows or Resources and Deferred Inflows of Resources Related to
Pensions
As of December 31, 2015, the deferred inflows and outflows of resources are as follows:
Deferred Inflows of
Resources
Deferred Outflows
of Resources
Differences between expected and actual experience ‐$ ‐$
Changes of assumptions ‐ ‐
Net difference between projected and actual earnings
on pension plan investments ‐ 156,926
Changes in proportion ‐ ‐
Contributions subsequent to the measurement date ‐ ‐
Total ‐$ 156,926$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense as follows:
Year ended December 31 Amount
2016 39,231$
2017 39,231
2018 39,231
2019 39,233
156,926$
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
NOTE 7. OTHER POST EMPLOYMENT BENEFITS
Plan Description
In accordance with the Revised Code of Washington (RCW) 41.26, the City administers a single‐employer
defined benefit healthcare plan (the Health Plan) for law enforcement officers and fire fighters employed prior
to October 1, 1977. The Health Plan provides medical, prescription drug, dental, Medicare Part B premiums,
long‐term care, and vision expenses for LEOFF Plan 1 retirees. Dependent spouses and children are not
covered.
Prior to 2008, the costs of the Health Plan were provided solely on a pay‐as‐you‐go basis. Beginning in 2008,
the City accounts for its other postemployment benefits (OPEB) expenses related to the Health Plan based on
a computed annual required contribution (ARC) that includes the current period’s service cost and an amount
to amortize unfunded actuarial accrued liabilities. The City maintains a standalone internal service fund,
LEOFF 1 Retirees Healthcare Fund. As of December 31, 2015, the City has a balance of $8,750,791 in the
LEOFF 1 Retirees Healthcare Fund. Although this amount is reported as unrestricted net position in the
financial statements, the City intends to use the balance to fund a portion of the UAAL.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐49
The Health Plan’s actuary is Milliman, Inc. The report may be obtained by contacting the City of Renton,
Finance Division, 1055 South Grady Way, Renton, WA 98057. The Health Plan does not issue a separate
standalone financial report.
Funding Policy
Funding for LEOFF 1 retiree healthcare costs is provided entirely by the City as required by the Revised Code of
Washington (RCW) 41.26. The City does not require retiree contributions. For the fiscal year ended December
31, 2015, the City contributed $1,085,885 to the Health Plan.
Annual OPEB Cost and Net OPEB Obligation
The basis for the City’s annual other postemployment benefit (OPEB) cost (expense) is the annual required
contribution (ARC). The ARC represents a level of funding that, if paid on an ongoing basis, is projected to
cover the normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a
period not to exceed thirty years. The following displays the components of the City’s annual OPEB cost, the
amount contributed to the Health Plan, and changes in the City’s net OPEB obligation to the Health Plan.
Annual Required Contribution and Net OPEB Obligation for years ended December 31, are as follows:
City’s net OPEB obligation increased by $1,496,345 in year the year ending December 31, 2015. The entire net
OPEB obligation of $6,839,826 is included as a noncurrent liability in the governmental activities column on
government‐wide statement of net position.
Annual Required Contribution (ARC) and Net OPEB Obligation
Fiscal Year Ending
12/31/2013 12/31/2014 12/31/2015
Annual required contribution (ARC)
1.Annual Normal Cost ‐$ ‐$ 27,929$
2.Amortization of UAAL 2,009,362 2,009,362 2,616,797
3.Interest to EOY ‐ 92,565
4.ARC at end of year [1+2+3] 2,009,362 2,009,362 2,737,291
5.Interest on Net OPEB Obligation 56,160 68,843 187,022
6.Adjustment to ARC (180,699) (229,130) (342,083)
7.Annual OPEB cost [4+5+6] 1,884,822 1,849,075 2,582,230
8.Employer Contributions 1,039,281 1,095,159 1,085,885
9.Change in Net OPEB Obligation [7‐8] 845,542 753,916 1,496,345
10.Net OPEB Obligation at Beginning of Year 3,744,023 4,589,565 5,343,481
11.Net OPEB Obligation at End of Year [9+10] 4,589,565$ 5,343,481$ 6,839,826$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐50
The City’s annual OPEB cost, the percentage of annual OPEB cost contributed to the Health Plan, and the net
OPEB obligation for 2015 and the two preceding years were as follows:
Year
Annual
OPEB Cost
Employer
Contribution
Percentage of
OPEB Cost
Contributed
Net OPEB
Obligation
2013 $ 1,884,822 $ 1,039,281 55%$ 4,589,565
2014 1,849,075 1,095,159 59% 5,343,481
2015 2,582,230 1,085,885 42% 6,839,826
Funded Status and Funding Progress
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the
probability of occurrence of events far into the future. Actuarially determined amounts regarding the funded
status of the plan and the annual required contributions of the employer are subject to continual revision as
actual results are compared with past expectations and new estimates are made about the future.
The funded status of the Health Plan as of January 1, 2015 (expressed in thousands):
The schedule of funding progress, presented as required supplementary information following the notes to
the financial statements, presents multi‐year trend information that shows whether the actuarial value of
Health Plan assets is increasing or decreasing over time relative to the actuarial liabilities for benefits.
Actuarial Methods and Assumptions
An actuarial valuation was completed as of January 1, 2015. Projections of benefits for financial reporting
purposes are based on the substantive plan (the plan as understood by the employer and plan members) and
include the types of benefits provided at the time of each valuation. The actuarial methods and assumptions
used include techniques that are designed to reduce the effects of short‐term volatility in actuarial accrued
liabilities and the actuarial value of assets, consistent with the long‐term perspective of the calculations.
The December 31, 2014 valuation used the projected unit credit actuarial cost methods. The actuarial
assumptions included a 1.5% investment rate of return (net of administrative expenses) and an initial annual
healthcare cost trend rate of 10.0% for pre‐Medicare expenses, to an ultimate rate of 4.2% after 72 years. The
Medicare trend assumption is 6.5%, to an ultimate rate of 4.2% after 8 years. The dental trend assumption is
5.5%, to an ultimate rate of 4.0% after 4 years. The Medicare premium trend rate is 8.5% for all years, except
for the first year, which has a 0% trend rate. The long‐term care trend rate is 5.0% for all years. The trend for
the Excise Tax threshold is 0% until 2018, when a trend rate of 4.24% is used. The trend for all future years is
3.24%. All trend rates include a 3.0% inflation assumption. The UAAL at transition is being amortized as a
Actuarial accrued liability (AAL) ‐ Unit Credit 42,306$
Actuarial value of plan assets ‐
Unfunded actuarial accrued liability (UAAL) 42,306$
Funded ratio (actuarial value of plan assets ÷ AAL) 0.0%
Covered payroll 110
UAAL as a percentage of covered payroll 38460.00%
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐51
level dollar amount on a closed basis. The remaining amortization period at December 31, 2013 was 24.0
years. The UAAL is recalculated each year and amortized as a level dollar amount over 25 years for 2013.
NOTE 8. CONTINGENCIES
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not determinable at this
time, it is the opinion of City’s legal counsel, that the resolution of these matters will not have a material
adverse effect on the financial condition of the City and that the City’s insurance policies and/or self‐insurance
reserves are adequate to pay all known or pending claims.
The City participates in a number of federal and state assisted programs. These grants are subject to program
compliance audits by the Single Audit Act. Such audits could result in reimbursement to grantor agencies for
expenditures disallowed under the terms of the grants. The amount of expenditure that may be disallowed, if
any, cannot be determined at this time and the City’s management believes that any such disallowances, if
any, will be immaterial.
NOTE 9. RISK MANAGEMENT
The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The City of Renton protects itself
against unforeseen losses by utilizing a three‐pronged risk management approach. First, the City self‐funds
first level losses through its Insurance Fund. Second, insurance and excess insurance is purchased to cover
medium and large losses. Third, the City reserves the right to utilize the provisions of Chapter 35A.31.060
RCW to fund catastrophic or uninsured losses. This State statute allows cities to levy a non‐voted property tax
increase to pay for uninsured claims. There were no settlements in excess of the insurance coverage in any of
the three prior fiscal years.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐52
An analysis of the insurance deductibles and self‐insured retention levels, limits of insurance, and carriers for
the major types of coverage are as follows:
Type of Coverage
Risk
Retention
Occurrence Aggregate Amount Carrier
Property –
Expires 1/01/2016
$50,000 $300,000,000 (per
occurrence subject to
annual aggregate &
sub‐limits)
WA Cities Ins
Authority
Liability –
Expires 01/01/2016
$250,000 $20,000,000
(per occurrence)
WA Cities Ins
Authority
Auto Physical Damage –
Expires 01/01/2016
$25,000
ACV or Replacement
Cost; per Occurrence
WA Cities Ins
Authority
Equipment Breakdown –
Expires 1/01/2016
$5,000* $50,000,000 Zurich
Employee Fidelity/Crime –
Expires 12/31/2015
$10,000 $2,500,000 WA Cities Ins
Authority
Airport Liability –
Expires 1/01/2016
0 $100,000,000 National Union
Fire Ins. Co
Underground Storage Tank –
Expires 1/01/2016
$2,500 $1,000,000 Great American
Excess Workers’ Comp –
Expires 1/01/2016
$500,000 Statutory Safety National
Excess Employee Health –
Expires 1/01/2016
$200,000 N/A Sun Life
* There is a 4‐hour utility interruption clause, prior to the deductible becoming applicable.
For fiscal year 2015, the City of Renton is a member of the Washington Cities Insurance Authority (WCIA).
Effective January 1, 2016, the City of Renton will no longer be a member of the WCIA and will become self‐
insured for its liability and property exposures. Withdrawal from WCIA provides the City of Renton with an
opportunity for increased savings in the future and provides the ability to control the cost of all types of
claims, including liability, property, workers’ compensation and automobile.
Utilizing Chapter 48.62 RCW (self‐insurance regulation) and Chapter 39.34 RCW (Interlocal Cooperation Act),
nine cities originally formed WCIA on January 1, 1981. WCIA was created for the purpose of providing a
pooling mechanism for jointly purchasing insurance, jointly self‐insuring, and / or jointly contracting for risk
management services. WCIA has a total of 175 Members.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐53
New members initially contract for a three‐year term, and thereafter automatically renew on an annual basis.
A one‐year withdrawal notice is required before membership can be terminated. Termination does not
relieve a former member from its unresolved loss history incurred during membership.
Liability coverage is written on an occurrence basis, without deductibles. Coverage includes general,
automobile, police, public officials’ errors or omissions, stop gap, and employee benefits liability. Limits are $4
million per occurrence self insured layer, and $16 million per occurrence in the re‐insured excess layer. The
excess layer is insured by the purchase of reinsurance and insurance and is subject to aggregate limits. Total
limits are $20 million per occurrence subject to aggregate sublimits in the excess layers. The Board of
Directors determines the limits and terms of coverage annually.
Insurance coverage for property, automobile physical damage, fidelity, inland marine, and boiler and
machinery are purchased on a group basis. Various deductibles apply by type of coverage. Property insurance
and auto physical damage are self‐funded from the members’ deductible to $750,000, for all perils other than
flood and earthquake, and insured above that amount by the purchase of insurance.
In‐house services include risk management consultation, loss control field services, claims and litigation
administration, and loss analyses. WCIA contracts for the claims investigation consultants for personnel issues
and land use problems, insurance brokerage, and lobbyist services.
WCIA is fully funded by its members, who make annual assessments on a prospectively rated basis, as
determined by an outside, independent actuary. The assessment covers loss, loss adjustment, and
administrative expenses. As outlined in the interlocal, WCIA retains the right to additionally assess the
membership for any funding shortfall.
An investment committee, using investment brokers, produces additional revenue by investment of WCIA’s
assets in financial instruments which comply with all State guidelines.
A Board of Directors governs WCIA, which is comprised of one designated representative from each member.
The Board elects an Executive Committee and appoints a Treasurer to provide general policy direction for the
organization. The WCIA Executive Director reports to the Executive Committee and is responsible for
conducting the day to day operations of WCIA.
The City's Risk Management Program is administered under the authority of the Human Resources and Risk
Management Administrator, with claims being processed by the carriers shown above.
As of December 31, 2015, the City had accrued the following amounts for outstanding claims:
Coverage
Total Claims Payable
12/31/2015
Property & liability 1,085,963$
Workers' compensation 1,037,911
Employee health 1,740,000
TOTAL 3,863,874$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐54
2015
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 549,549$ 846,897$ 1,745,900$ 3,142,346$
Current year and changes in estimates 2,666,774 (1,231,531) 12,042,340 13,477,583
Claims payments (2,130,360) 1,422,545 (12,048,240) (12,756,055)
IBNR claims at end of the year 1,085,963$ 1,037,911$ 1,740,000$ 3,863,874$
2014
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 508,904$ 937,114$ 1,660,000$ 3,106,018$
Current year and changes in estimates 1,403,954 960,180 12,922,405 15,286,539
Claims payments (1,363,309) (1,050,397) (12,836,505) (15,250,211)
IBNR claims at end of the year 549,549$ 846,897$ 1,745,900$ 3,142,346$
NOTE 10. INTERFUND TRANSACTIONS
A. INTERFUND TRANSFERS
The following is the composition of interfund transfers for the year ended December 31, 2015:
General
Municipal
Facilities CIP
Other
Governmental
Internal Service
Funds Total
Transfer Out:
Governmental Funds
General ‐ 5,150,000 1,022,686 1,495,924 7,668,610
Other Governmental 5,000 472,264 ‐ 56,168 533,432
Municipal Facilities CIP ‐ ‐ ‐ 32,322 32,322
Enterprise Fund
Waterworks Utility ‐ ‐ ‐ 129,588 129,588
Solid Waste ‐ ‐ ‐ 1,903 1,903
Internal Service Fund
Insurance ‐ ‐ 125,000 ‐ 125,000
Total 5,000 5,622,264 1,147,686 1,715,905 8,490,855
Governmental Funds
Transfer In:
During the year, transfers are used to (1) move revenue from the fund with collection authority to the debt
service fund as debt service principal and interest become due, (2) to segregate money for anticipated
capital projects, and (3) move general fund sources into funds identified by the city‐wide stabilization
policy.
All transfers either occur on a regular basis or are consistent with the purpose of the fund making the
transfer. Transfers that occur within the governmental funds are eliminated on the government‐wide
statement of activities.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐55
In addition, the City made the following one‐time transfers during the year ending December 31, 2015:
1. A $5.05 million transfer from the General Fund to the Municipal Facilities CIP fund to help acquire two
pieces of land.
2. $1.0 million transfer from the General Fund to the Capital Improvement Fund to support two separate
capital transportation projects.
3. $472 thousand transfer from the Parks Impact Mitigation Fees to help acquire three separate park
property purchases.
4. $1.3 million transfer from the General Fund to the Insurance Internal Service Fund to help fully fund
the City’s catastrophic and anti‐recessionary reserves.
B. INTERFUND RECEIVABLES AND PAYABLES
The composition of interfund receivables/ payables as of December 31, 2015 is as follows:
Due from/to:
Receivable Fund Payable Fund Amount
Municipal Facilities CIP General 570,977$
Other Governmental ‐ Gen. Govt Debt Service General 570,977
Total 1,141,954$
The outstanding balances between funds result from the time lag between the dates that transactions are
recorded in the accounting system.
Advances from/to:
Receivable Fund Payable Fund Amount
Due Within
One Year
Internal Service ‐ Insurance Fund Capital Improvement 146,298$ 146,298$
Internal Service ‐ Insurance Fund Leased Facilities 875,000 175,000
Total 1,021,298$ 321,298$
The amount payable from the Capital Improvement fund was a working capital loan to help ensure the SW
27th Street/Strander Boulevard Connection project could be fully funded. The repayment of the loan is
being repaid as the fund receives cash from grant reimbursements. The amount payable from the Leased
Facilities Fund was also a working capital loan to help ensure tenant improvement costs at the City’s 200
Mill building could continue. The repayment of the loan will be funded with the future lease revenue from
the tenant.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐56
NOTE 11. LONG TERM DEBT
General Obligation Bonds
General obligation bonds are direct obligations of the City for which its full faith and credit are pledged. Debt
service for voter‐approved bonds, which the City has none, would be funded by special property tax levies.
Debt service for City Council authorized bonds (councilmatic bonds) is funded from regular property taxes or
general revenues, and is generally paid from debt service funds.
General Obligation Bonds outstanding at year‐end are as follows:
2006 Limited Tax General Obligation bonds which provided funding for the construction of South
Lake Washington infrastructure improvements.
2010 Limited Tax General Obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds for the construction of a downtown parking facility.
2011 Limited Tax General Obligation bonds which funded the development and construction of 2
new libraries.
2011 Limited Tax General Obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds which refunded a portion of the 1997 Limited Tax General
Obligation bonds for the purchase of Renton City Hall.
2013 Limited Tax General Obligation qualified energy conservation bonds (QECB) which provided
funding for streetlight improvements.
2015 (A & B) Limited Tax General Obligation refunding bonds refunded a portion of the 2006
limited tax general obligation bonds for the construction of South Lake Washington
infrastructure improvements.
Other intergovernmental debt, backed by the full faith and credit of the City:
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of the
Benson Hill annexation.
2009 intergovernmental debt related to acquisition, construction, and equipping of the SCORE
facility. Pursuant to an interlocal agreement, the City is obligated to pay 36 percent of the debt
service on the SCORE bonds.
2010 intergovernmental refunding debt which refunded a portion of the 2000 intergovernmental
debt for the construction of a new facility for Valley Communications Center (Valley Com).
Pursuant to an interlocal agreement, the City is obligated to pay 20 percent of the debt service
on the Valley Com bonds.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐57
Revenue Bonds
Revenue bonds are payable from water, sewer, and storm revenues generated from the charges for
service revenues in those funds.
Revenue Bonds outstanding at year‐end are as follows:
2007 Water/Sewer Revenue Bonds (Ordinance #5313) has an average interest rate is 4.22%.
These bonds were issued for the purpose of financing the costs of carrying out certain capital
improvements of waterworks utility.
2007 Water/Sewer Revenue Refunding Bonds (02) (Ordinance #5313) has an average interest
rate is 4.15%. These bonds were issued for the purpose of refunding certain outstanding water
and sewer revenue bonds of the City.
2008 (A) Water/Sewer Revenue Bond (Exempt) (Ordinance #5313) were issued in the amount of
$9,975,000 and dated January 1, 2008. The average interest rate is 4.17%. These bonds were
issued for the purpose of providing money to pay part of the cost of construction and acquisition
of certain improvements to the waterworks utility.
2008 (B) Water/Sewer Revenue Bond (Taxable) (Ordinance #5313) were issued in the amount of
$2,035,000 and dated January 1, 2008. The average interest rate is 4.17%. These bonds were
issued for the purpose of providing money to pay part of the cost of construction and acquisition
of certain improvements to the waterworks utility.
2012 Water/Sewer Revenue Refunding Bonds (Ordinance #5672) were issued in the amount of
$9,190,000 and dated December 7, 2012. The average interest rate is 2.5%. These bonds were
issued for the purpose of refunding a portion of the 2004 Water/Sewer Revenue Bonds.
State of Washington Public Works Trust Fund Loans (PWTFL)
PWTFL are the direct responsibility of the City. At year‐end the City has eight outstanding loans, with a
remaining balance of $3,248,163. All of the loans are for water and sewer capital improvements. Loans
are repaid from water and sewer system revenues.
PWTFL outstanding at year‐end are as follows:
East Kennydale Sewer Interceptor loan for the construction of approximately 5,200 linear feet of
12 to 15‐inch sanitary sewer pipe, 14 sewer manholes, replacement of the Devil’s Elbow sanitary
sewer lift station, 300 linear feet of 6‐inch sanitary force main, fish habitat improvements, repair
of access road, and associated asphalt patching and paving.
Honeycreek (Sunset) Sewer Interceptor loan is to construct approximately 5,785 linear feet of 15
to 18‐inch sanitary sewer main, 15 sewer manholes, 3,300 square yards of asphalt paving, and
related appurtenances to the sewer main.
Corrosion Control Treatment Facilities loan was for construction of a building on City property in
Cedar River Park between well PW‐8 and well PW‐9 to store and pump chemicals for treating the
water from wells RW.
Maplewood Water Treatment Improvement loan was to fund the costs to eliminate quality
problems in water from the Maplewood wellfield wells.
CT Pipeline for Wells RW‐1, RW‐2 and RW‐3 loan is to construct the CT detention pipeline for
wells RW‐1, RW‐2 and RW‐3 at Liberty Park.
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐58
Maplewood Drinking Water Treatment Improvement loan is to construct the drinking water
treatment improvements at Maplewood.
Compensated Absences
Compensated absences are paid by those funds that have employees. These are mostly payable from
the General Fund and Waterworks Utility Fund.
The following schedules summarize the long‐term debt transactions of the City for the year ended
December 31, 2015. The first table reflects total annual debt service requirements to maturity, while
the second table provides detailed information on all long‐term debt.
Year Principal Interest Principal Interest
2016 5,302,416 2,727,373 2,193,901 1,053,517
2017 5,479,072 2,521,906 2,055,175 974,301
2018 5,311,675 2,319,384 2,295,818 897,078
2019 5,476,547 2,154,485 2,450,818 812,699
2020 5,688,322 1,943,374 2,530,818 729,520
2021‐2025 17,470,204 6,765,407 13,441,629 2,318,424
2026‐2030 11,526,489 3,921,975 5,525,005 293,893
2031‐2035 7,543,800 2,150,836 ‐ ‐
2036‐2040 5,349,601 466,611 ‐ ‐
Totals 69,148,128 24,971,352 30,493,163 7,079,431
Governmental Activities Business‐Type Activities
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐59
Issue Name Interest Rates Maturity Date
Original Issue
Amount
Beginning
Balance
01/01/2015 Additions Deductions
Ending Balance
12/31/2015
Due Within
One Year
GOVERNMENTAL‐TYPE DEBT:
Limited General Obligation Bonds:
2006 GO Bonds 4.25%‐5.00% 12/1/2028 $ 17,980,000 13,850,000$ ‐$ 13,100,000$ 750,000$ 750,000$
2010 GO Refunding Bonds 3.00%‐4.50% 12/1/2021 6,170,000 6,010,000 ‐ 10,000 6,000,000 10,000
2011 GO Library Bonds 2.00%‐5.00% 12/1/2022 16,715,000 12,460,000 ‐ 1,505,000 10,955,000 1,540,000
2011 GO Refunding Bonds 2.00%‐5.00% 12/1/2017 9,425,000 4,825,000 ‐ 1,555,000 3,270,000 1,605,000
2013 GO QECB 3.22% 7/1/2028 3,200,000 2,990,000 ‐ 210,000 2,780,000 210,000
2015 (A) GO S LK WA Infr Refunding (BQ) 3.00%‐4.00% 12/1/2028 8,825,000 ‐ 8,825,000 ‐ 8,825,000 ‐
2015 (B) GO S LK WA Infr Refunding (Tax) 0.50%‐2.07% 12/1/2020 3,695,000 ‐ 3,695,000 330,000 3,365,000 100,000
Unamortized (discount)/premium/refunding 1,747,831 1,171,804 1,465,304 1,454,331 ‐
66,010,000 41,882,831 13,691,804 18,175,304 37,399,331 4,215,000
2009 FD 40 Loan for acquisition of FS13 3.75% 9/1/2028 6,798,085 5,313,953 ‐ 304,225 5,009,728 315,216
2009 (A) SCORE Tax Exempt 4.00%‐5.00% 1/1/2022 2,953,800 2,237,400 ‐ 473,400 1,764,000 772,200
2009 (B) SCORE BABS 3.00%‐6.62% 1/1/2039 28,090,800 26,699,400 ‐ 270,000 26,429,400 ‐
2010 GO Valley Comm Refunding Bonds 3.00%‐4.00% 12/1/2015 1,065,000 220,000 ‐ 220,000 ‐ ‐
Total Intergovernmental Debt 38,907,685 34,470,753 ‐ 1,267,625 33,203,128 1,087,416
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 4,898,649 3,662,091 2,792,230 5,768,510 3,288,051
Other Post Employment Benefits (OPEB) 5,343,481 2,582,230 1,085,885 6,839,826 ‐
Net Pension Liability 16,102,050 4,977,795 ‐ 21,079,845 ‐
Total Other Long‐Term Liabilities 26,344,180 11,222,116 3,878,115 33,688,181 3,288,051
$ 104,917,685 102,697,764$ 24,913,920$ 23,321,044$ 104,290,640$ 8,590,467$
BUSINESS‐TYPE DEBT:
Revenue Bonds:
2007 Water/Sewer 4.00%‐5.00% 12/1/2022 1,430,000 1,335,000 ‐ 95,000 1,240,000 95,000
2007 Water/Sewer Refunding (02) 4.00%‐5.00% 12/1/2022 8,320,000 7,510,000 ‐ 755,000 6,755,000 780,000
2008 Water/Sewer (a) 4.17% 12/1/2027 9,975,000 9,975,000 ‐ ‐ 9,975,000 480,000
2008 Water/Sewer (b) 4.17% 12/1/2016 2,035,000 825,000 ‐ 630,000 195,000 195,000
2012 Water/Sewer Refunding 2.00%‐3.00% 12/1/2027 9,190,000 9,115,000 ‐ 35,000 9,080,000 35,000
Unamortized (discount)/premium/refunding (82,699) ‐ (13,482) (69,217) ‐
Total Revenue Bonds 30,950,000 28,677,301 ‐ 1,501,518 27,175,783 1,585,000
Public Works Trust Fund Loans:
Central Renton Sewer Replacement 1.00% 7/1/2015 1,631,800 52,016 ‐ 52,016 ‐ ‐
NE 27th/Aberdeen Drainage Improvements 1.00% 7/1/2015 731,000 42,591 ‐ 42,591 ‐ ‐
East Kennydale Interceptor 2.00% 7/1/2016 2,093,740 233,712 ‐ 116,855 116,858 116,858
Honeycreek Interceptor 2.00% 7/1/2016 1,840,568 193,744 ‐ 96,872 96,872 96,872
Corrosion Control Treatment Facilities 1.00% 7/1/2017 1,106,000 148,071 ‐ 49,357 98,714 49,357
Maplewood Water Treatment Improvement 0.50% 7/1/2021 567,831 212,107 ‐ 30,301 181,806 30,301
Construct CT Pipeline for Wells 0.50% 7/1/2022 814,527 342,959 ‐ 42,870 300,089 42,870
Maplewood Water Treatment Improvement 0.50% 7/1/2024 5,150,000 2,726,471 ‐ 272,647 2,453,824 272,647
13,935,466 3,951,671 ‐ 703,508 3,248,163 608,904
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 687,363 100,371 120,420 667,314 97,446
Net Pension Liability 4,478,280 1,207,814 ‐ 5,686,094 ‐
Total Other Long‐Term Liabilities 5,165,643 1,308,185 120,420 6,353,408 97,446
$ 44,885,466 37,794,615$ 1,308,185$ 2,325,445$ 36,777,354$ 2,291,350$
$ 149,803,151 $ 140,492,379 $ 26,222,105 $ 25,646,489 $ 141,067,994 $ 10,881,817
Schedule of Changes of Long‐Term Debt
TOTAL ALL FUNDS
TOTAL BUSINESS‐TYPE DEBT
TOTAL GOVERNMENTAL‐TYPE DEBT
Total Public Works Trust Fund Loans
Total General Obligation Bonds
Other Intergovernmental ‐ Backed by full faith and credit of the City:
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐60
Debt Limit Capacity
State law provides that debt cannot be incurred in excess of the following percentages of the value of the
taxable property of the City: 1.5 percent without a vote of the people provided the indebtedness with a vote is
1 percent or less; 2.5 percent with a vote of the people; 5.0 percent with a vote of the people, provided the
indebtedness in excess of 2.5 percent is for utilities; and 7.5 percent with a vote of the people provided the
indebtedness in excess of 5.0 percent is for open space development and parks facilities. Table 15 in the
Statistical Section shows the computation of legal debt margin for general and special purpose capacities for
the City of Renton.
Estimated Arbitrage Rebate
The City engages an outside agency to calculate its’ arbitrage rebate liability on outstanding tax‐exempt bonds
and certificates of participation under Section 148(f) of the Internal Revenue Code. No additional rebate was
found due for any revenue or general obligation bonds for 2015.
Issued/Refunded Debt
On May 13, 2015 the City issued $8,825,000 (2015A) and $3,695,000 (2015B) in Limited Tax General Obligation
(LTGO) Refunding Bonds with an average interest of 3.72% and 1.31%, respectively, to advance refund
$12,400,000 of outstanding 2006 LTGO Bonds. The net proceeds were used to purchase U.S. government
securities which were deposited with an escrow agent to provide for all future debt service payments on the
refunded bonds. As a result, this portion of the original bond is considered defeased. The advance refunding
resulted in a reduction in the aggregate debt service payments of $1,967,136 (2015A) and $193,008 (2015B)
and a present value gain of $1,722,732 (2015A) and $161,034 (2015B).
Prior Year Defeasance of Debt
In prior years the City defeased certain bond issues by placing the proceeds of new bonds in an irrevocable
trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets
and the liability for the defeased bonds are not included in the City’s financial statements. The schedule of
assets, liabilities, and net assets of the City’s escrow account as of December 31, 2015 is provided in the
following table.
US Bank Corporate Trust
(2015 A&B LTGO Refunding Bonds)
Assets
Cash with Trustee 987$
Investments with Trustee 12,928,714
Estimated Interest Receivable ‐
Total Assets 12,929,701
Liabilities
Refunded Bonds Payable 12,928,714
Total Liabilities 12,928,714
Net Assets
Earnings with Trustee 987
Total Net Assets 987$
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐61
NOTE 12. JOINT VENTURES
A joint venture is a legal entity or other organization that results from a contractual agreement and that is
owned, operated, or governed by two or more participants as a separate and specific activity subject to joint
control in which the participants retain (a) an on‐going financial interest or (b) an on‐going financial
responsibility. The City participates in two joint ventures, both of which are sanctioned by the provisions and
terms of the Interlocal Cooperation Act pursuant to Chapter 39.34 RCW.
VALLEY COMMUNICATIONS CENTER
The Valley Communications Center (Valley Com) was established August 20, 1976, when an Interlocal
Agreement was entered into by four original participating municipal corporations, including the cities of
Renton, Kent, Auburn, and Tukwila. Federal Way was formally admitted in 2000. The initial duration of the
agreement was five years, and thereafter is automatically extended for consecutive five‐year periods.
The purpose of the joint operation, hereafter referred to as Valley Com, is to provide improved consolidated
emergency communications (dispatch) services for police, fire, and medical aid, to the five participating cities
and to several subscribing agencies that include: King County Fire Districts 2, 17 (Black Diamond), 20, 26, 40,
43, 44, 47; City of Pacific Police and Fire Departments; City of Black Diamond Police Department; City of Des
Moines Police Department; SeaTac Fire Department; North Highline Fire Department; King County EMS Units;
and Vashon Island Fire Department. Separate agreements between Valley Com and the subscribing agencies
have been executed, which set forth conditions of services and rates charged.
The City made payments totaling $2,448,960 to support Valley Com’s operating costs during the year ended
December 31, 2015. The City also pays its relative portion of Valley Com’s debt service obligations, which
totaled $220,000 in principal and $8,800 in interest (as reflected in Note 11 – Long Term Debt).
The City reports its share of equity interest in the Governmental Activities column within the Government‐
wide financial statements under non‐current assets – investments in joint ventures. The following is
condensed financial information as of December 31, 2015 related to Valley Communications Center:
Completed Financial Statements for Valley Com can be obtained from the Valley Communications Center,
23807 – 98th Avenue South, Kent, WA 98031.
GASB 68 Adjusted Equity
Member City Percent of Equity 2014 Equity Balance Adjustment 2014 Equity Balance 2015 Distribution 2015 Equity Balance
Auburn 22.17% 5,079,377$ (1,781,244)$ 3,298,133$ 555,097$ 3,853,230$
Federal Way 20.64% 3,619,944 (1,269,448) 2,350,496$ 507,809 2,858,305.00
Kent 28.15% 7,530,786 (2,640,908) 4,889,878$ 649,015 5,538,893.00
Renton 20.31% 5,350,252 (1,876,235) 3,474,017$ 470,862 3,944,879.00
Tukwila 8.73% 2,974,283 (1,043,026) 1,931,257$ 208,004 2,139,261.00
Grand Totals 100.00% 24,554,642$ (8,610,861)$ 15,943,781$ 2,390,787$ 18,334,568$
Valley Communications Center
2015 Owner Cities Equity Allocation
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐62
SOUTH CORRECTIONAL ENTITY (SCORE)
The South Correctional Entity (SCORE), a consolidated correctional facility, was established February 25, 2009,
when an interlocal agreement was entered into by seven participating municipal governments (“owner cities”)
of Auburn, Burien, Des Moines, Federal Way, Renton, SeaTac and Tukwila. This agreement was amended and
restated October 1, 2009 and named the City of Des Moines as the “host city”. Pursuant to a separate “Host
City Agreement” dated October 1, 2009, the host city will not enjoy the same equity position as the original
owner cities until all debts issued are paid and the host city fulfills all of its obligations as outlined in the
Agreement.
The purpose of the interlocal operation, SCORE, is to serve the Member Cities and Subscribing Agencies which
are in need of correctional facilities. SCORE provides correctional services and functions incidental thereto, for
the purpose of detaining arrestees and sentenced offenders in the furtherance of public safety and
emergencies within the jurisdiction of the Member Cities. Separate agreements between SCORE and
subscribing agencies have been executed, which set forth conditions of services and rates charged.
Financing for the acquisition, construction, equipping, and improvement of the SCORE Facility was provided by
bonds issued by the South Correctional Entity Facility Public Development Authority (the “SCORE PDA”), a
public development authority chartered by the City of Renton pursuant to RCW 35.21.730 through 35.21.755
and secured by the full faith and credit of the Cities of Auburn, Burien, Federal Way, Renton, SeaTac, and
Tukwila (the owner cities). The SCORE PDA issued $86 million in special obligation bonds in 2009 to carry out
the facility development project.
The following is a summary of the debt service requirements, for each owner city:
In addition to debt service obligations above, the City of Renton made payments totaling $4,138,311 to
support SCORE’s operating costs during the year ended December 31, 2015.
Auburn Burien Federal Way Renton SeaTac Tukwila
Year 31% 4% 18% 36% 3% 8%
2016 1,692,355 218,368 982,658 1,965,316 163,776 436,737
2017 1,690,602 218,142 981,640 1,963,280 163,607 436,284
2018 1,687,731 217,772 979,973 1,959,946 163,329 435,544
2019 1,685,494 217,483 978,674 1,957,348 163,112 434,966
2020 1,684,037 217,295 977,828 1,955,656 162,971 434,590
2021‐2025 8,268,796 1,066,941 4,801,236 9,602,473 800,206 2,133,883
2026‐2030 8,187,972 1,056,513 4,754,306 9,508,613 792,384 2,113,025
2031‐2035 8,143,380 1,050,759 4,728,414 9,456,828 788,069 2,101,517
2036‐2039 6,478,617 835,951 3,761,778 7,523,555 626,963 1,671,901
Totals 39,518,984$ 5,099,224$ 22,946,507$ 45,893,015$ 3,824,417$ 10,198,447$
Debt Service Allocation to Owner Cities
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐63
The City reports its share of equity interest in the Governmental Activities column within the Government‐
wide financial statements under non‐current assets – investments in joint ventures. The following is
condensed financial information as of December 31, 2015 related to SCORE:
Completed financial statements for SCORE and SCORE PDA can be obtained at SCORE, 20817 17th Avenue
South, Des Moines, WA 98198.
NOTE 13. AIRPORT LEASES
The majority of the Municipal Airport’s revenue is derived from leases which convey the right to use land and
various airport facilities which are accounted for as operating leases. Minimum future rental on
noncancellable operating leases are as follows:
For the Year Ended
December 31:
2016 2,349,576$
2017 2,329,894
2018 2,332,239
2019 2,470,303
2020 2,325,998
Thereafter 27,604,831
39,412,841$
Of the amounts shown above, one tenant comprises 65.64% of all future minimum lease rentals. The tenant’s
multiple leases expire in 2030.
Member City Percent of Equity
2014 Equity
Balance Adjustment
2014 Equity
Balance 2015 Distribution
2015 Equity
Balance
Auburn 29.00% 4,243,234$ (1,048,625)$ 3,194,609$ 137,167$ 3,331,776$
Burien 3.00% 515,410 (155,837) 359,573 17,268 376,841
Des Moines 2.00% 292,160 (113,182) 178,978 18,288 197,266
Federal Way 25.00% 3,676,724 (1,204,461) 2,472,263 148,312 2,620,575
Renton 29.00% 4,220,405 (1,134,356) 3,086,049 136,621 3,222,670
SeaTac 5.00% 712,666 (240,723) 471,943 26,524 498,467
Tukwila 7.00% 1,080,470 (326,032) 754,438 34,103 788,541
Grand Totals 100.00% 14,741,069$ (4,223,216)$ 10,517,853$ 518,283$ 11,036,136$
South Correctional Entity (SCORE)
2015 Owner Cities Equity Allocation
GASB 68 Adjustment
2015 Comprehensive Annual Financial Report City of Renton, Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐64
A summary of assets leased or available for tenant use is as follows:
Cost 33,782,814$
Less: Accumulated Depreciation (12,657,303)
Carrying Value 21,125,511$
NOTE 14. SUBSEQUENT EVENTS
On April 26, 2016 Renton voters approved the formation of a Regional Fire Authority (RFA). The RFA will be a
separate legal entity, a consolidation of King County Fire District #25 and the City of Renton Fire Department.
Operations of King County Fire District #25 and the City of Renton Fire Department will end June 30, 2016 and
RFA operations will begin July 1, 2016. The City of Renton will no longer be responsible for providing fire and
emergency services as of July 1, 2016.
All of the City’s assets currently used to support fire and emergency services (including real and personal
property, RFA specific fleet and equipment reserves, and the Health and Wellness fund reserves) will be
transferred to the RFA effective July 1, 2016. The City will retain its current Firefighter Pension and/or LEOFF 1
retiree obligations and debt service obligations related to Fire Station 13. Also, as of January 1, 2017 the RFA
will absorb a portion of the City’s current levy capacity, $1.00 per $1,000 AV on property taxes.
NOTE 15. PRIOR PERIOD ADJUSTMENT
Governmental Funds – Municipal Facilities CIP and Statement of Activities
A prior period adjustment was necessary to correct for construction invoices not properly accrued in the prior
year. The result is a decrease in beginning fund balance in the Municipal Facilities CIP fund of $1,096,751.
The error had no effect on Governmental Activities net position.
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATON
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
BUDGETARY TO GAAP
ACTUAL AMOUNTS ACTUAL AMOUNTS DIFFERENCES
ORIGINAL FINAL BUDGETARY BASIS VARIANCE GAAP BASIS OVER (UNDER)
REVENUES
Taxes $ 85,297,952 $ 86,799,952 $ 88,815,048 $ 2,015,096 $ 82,385,005 $ 6,430,043 (1)
Licenses and permits 5,201,417 5,696,417 5,895,503 199,086 5,895,503 ‐
Intergovernmental revenues 3,852,110 5,468,771 5,375,751 (93,020) 4,972,116 403,635 (1)
Charges for services 9,662,398 10,016,774 11,101,008 1,084,234 11,101,008 ‐
Fines and forfeits 3,320,500 3,320,500 3,022,849 (297,651) 3,022,849 ‐
Interfund revenues 3,147,416 3,221,947 296,649 (2,925,298) 296,649 ‐
Contributions 97,000 137,000 158,292 21,292 158,292 ‐
Interest 875,300 875,300 976,558 101,258 959,200 17,358 (1), (2)
Miscellaneous revenues 1,162,909 1,032,216 1,197,874 165,658 1,992,368 (794,494) (2)
TOTAL REVENUES 112,617,002 116,568,877 116,839,532 270,655 110,782,990 6,056,542
EXPENDITURES
Current:
General government 11,453,680 11,831,982 10,421,028 (1,410,954) 11,223,964 (802,936) (2)
Judicial 2,561,321 2,561,321 2,461,668 (99,653) 2,461,668 ‐
Public safety 59,098,063 59,269,701 58,211,446 (1,058,255) 58,211,446 ‐
Utilities 463,587 463,587 236,245 (227,342) 236,245 ‐
Transportation 10,060,511 10,207,856 9,002,030 (1,205,826) 9,002,030 ‐
Economic environment 7,501,532 7,719,734 6,271,302 (1,448,432) 6,271,302 ‐
Health and human services 1,854,359 1,872,110 1,876,841 4,731 1,876,841 ‐
Culture and recreation 12,033,602 12,378,818 11,396,257 (982,561) 11,396,257 ‐
Capital outlay:
General government ‐ ‐ 5,634 5,634 649,532 (643,898) (2)
Public safety 35,000 35,000 16,070 (18,930) 16,070 ‐
Transportation 5,200 64,200 45,695 (18,505) 45,695 ‐
Culture and recreation ‐ ‐ 12,989 12,989 12,989 ‐
Debt service:
Principal payment 4,504,225 4,504,225 4,834,225 330,000 ‐ 4,834,225 (1)
Interest payment 1,959,363 2,073,722 1,655,953 (417,769) ‐ 1,655,953 (1)
TOTAL EXPENDITURES 111,530,443 112,982,256 106,447,383 (6,534,873) 101,404,039 5,043,344
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 1,086,559 3,586,621 10,392,149 6,805,528 9,378,951 1,013,198
OTHER FINANCING SOURCES (USES)
Proceeds of long‐term debt ‐ 13,691,804 12,520,000 (1,171,804) ‐ 12,520,000
Proceeds of interfund loan ‐ ‐ ‐ ‐ ‐ ‐ (3)
Premiums on bonds sold ‐ ‐ 1,171,804 1,171,804 ‐ 1,171,804
Transfer in 250,000 255,000 255,000 ‐ 5,000 250,000
Transfer (out) (1,411,000) (7,644,586) (7,668,610) 24,024 (7,668,610) ‐
Insurance recoveries ‐ ‐ 14,724 14,724 14,724 ‐
Funds remitted to bond trustee ‐ (13,573,341) (13,573,341) ‐ ‐ (13,573,341)
TOTAL OTHER FINANCING SOURCES (USES) (1,161,000) (7,271,123) (7,280,423) 38,748 (7,648,886) 368,463
NET CHANGE IN FUND BALANCE (74,441) (3,684,502) 3,111,726 6,844,276 1,730,065 1,381,661
FUND BALANCE JANUARY 1 13,508,009 17,565,282 21,517,152 3,951,870 20,054,469 1,462,683 (1), (2)
FUND BALANCE DECEMBER 31 $ 13,433,568 $ 13,880,780 $ 24,628,878 $ 10,748,098 $ 21,784,534 $ 2,844,344 (1), (2)
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION
(1) General Governmental Debt Fund is included in the Actual Amounts Budgetary Basis column
(2) Leased City Property Fund is included in the Actual Amounts GAAP Basis column
(3) Excludes interfund loan proceeds in Budgeted Amounts Final column
BUDGETED AMOUNTS
Required Supplementary Information, 5‐1
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30
Last 10 Fiscal Years*
PERS Plan 1 2015 2014
City's proportion of the net pension liability/(asset)0.275830% 0.273241%
City's proportionate share of the net pension
liability/(asset)14,428,474$ 13,764,644$
City's covered‐employee payroll 387,076$ 509,246$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered‐
employee payroll 3727.56% 2702.95%
Plan fiduciary net position as a percentage of the
total pension liability 59.10% 61.19%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐2
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30
Last 10 Fiscal Years*
PERS Plan 2/3 2015 2014
City's proportion of the net pension liability/(asset)0.345072% 0.337183%
City's proportionate share of the net pension
liability/(asset)12,329,619$ 6,815,686$
City's covered‐employee payroll 30,618,109$ 29,147,610$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered‐
employee payroll 40.27% 23.38%
Plan fiduciary net position as a percentage of the
total pension liability 89.20% 93.29%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐3
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30
Last 10 Fiscal Years*
PSERS Plan 2 2015 2014
City's proportion of the net pension liability/(asset)0.042991% 0.046443%
City's proportionate share of the net pension
liability/(asset)7,846$ (6,725)$
City's covered‐employee payroll 124,200$ 125,311$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered‐
employee payroll 6.32%‐5.37%
Plan fiduciary net position as a percentage of the
total pension liability 95.08% 105.01%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐4
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30
Last 10 Fiscal Years*
LEOFF Plan 1 2015 2014
City's proportion of the net pension liability/(asset)0.229885% 0.225836%
City's proportionate share of the net pension
liability/(asset)(2,770,622)$ (2,738,919)$
City's covered‐employee payroll 98,485$ 135,276$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered‐
employee payroll ‐2813.24%‐2024.69%
Plan fiduciary net position as a percentage of the
total pension liability 127.36% 126.91%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐5
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30
Last 10 Fiscal Years*
LEOFF Plan 2 2015 2014
City's proportion of the net pension liability/(asset)0.954715% 0.947521%
City's proportionate share of the net pension
liability/(asset)(9,812,561)$ (12,574,011)$
State's proprtionate share of the net pension
liability/(asset) associated with the City (925,241) (870,262)
Total (10,737,802)$ (13,444,273)$
City's covered‐employee payroll 27,709,532$ 26,365,930$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered‐
employee payroll ‐35.41%‐47.69%
Plan fiduciary net position as a percentage of the
total pension liability 111.67% 116.75%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐6
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTAL INFORMATION
SCHEDULE OF EMPLOYER CONTRIBUTIONS
WA DEPARTMENT OF RETIREMENT SYSTEMS
As of December 31
Last 10 Fiscal Years
PERS Plan 1 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Contractually Required Contribution 32,471$ 46,981$ 37,139$ 42,163$ 44,457$ 47,133$ 71,860$ 75,956$ 85,411$ 50,609$
Contributions in relation to the
contractually required contribution 32,471 46,981 37,139 42,163 44,457 47,133 71,860 75,956 85,411 50,609
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Covered‐employee payroll 321,282$ 510,113$ 460,190$ 586,670$ 730,580$ 887,631$ 1,037,018$ 1,076,267$ 1,503,803$ 1,684,218$
Contributions as a percentage of covered‐
employee payroll 10.11% 9.21% 8.07% 7.19% 6.09% 5.31% 6.93% 7.06% 5.68% 3.00%
PERS Plan 2/3 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Contractually Required Contribution 3,176,293$ 2,741,111$ 2,391,286$ 2,096,869$ 1,766,891$ 1,551,084$ 2,148,442$ 1,989,355$ 1,426,226$ 709,118$
Contributions in relation to the
contractually required contribution 3,176,293 2,741,111 2,391,286 2,096,869 1,766,891 1,551,084 2,148,442 1,989,355 1,426,226 709,118
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Covered‐employee payroll 31,497,413$ 29,764,913$ 29,475,370$ 29,208,428$ 28,647,142$ 29,210,476$ 30,991,086$ 27,771,955$ 25,045,413$ 23,524,061$
Contributions as a percentage of covered‐
employee payroll 10.08% 9.21% 8.11% 7.18% 6.17% 5.31% 6.93% 7.16% 5.69% 3.01%
PSERS Plan 2 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Contractually Required Contribution 19,338$ 13,550$ 11,925$ 16,854$ 21,518$ 64,909$ 73,255$ 63,747$ 41,424$ 8,006$
Contributions in relation to the
contractually required contribution 19,338 13,550 11,925 16,854 21,518 64,909 73,255 63,747 41,424 8,006
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Covered‐employee payroll 174,043$ 128,561$ 123,759$ 191,056$ 260,987$ 826,862$ 842,066$ 709,587$ 488,819$ 118,433$
Contributions as a percentage of covered‐
employee payroll 11.11% 10.54% 9.64% 8.82% 8.24% 7.85% 8.70% 8.98% 8.47% 6.76%
LEOFF Plan 2 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Contractually Required Contribution 1,465,570$ 1,413,896$ 1,357,292$ 1,364,670$ 1,334,049$ 1,278,378$ 1,258,217$ 1,200,963$ 861,932$ 716,583$
Contributions in relation to the
contractually required contribution 1,465,570 1,413,896 1,357,292 1,364,670 1,334,049 1,278,378 1,258,217 1,200,963 861,932 716,583
Contribution deficiency (excess)‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Covered‐employee payroll 28,022,314$ 27,034,283$ 25,941,501$ 26,043,207$ 25,458,857$ 24,396,468$ 23,489,001$ 22,236,967$ 16,871,515$ 15,514,561$
Contributions as a percentage of covered‐
employee payroll 5.23% 5.23% 5.23% 5.24% 5.24% 5.24% 5.36% 5.40% 5.11% 4.62%
Required Supplementary Information, 5‐7
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Supplementary Information, 5 ‐9
2015 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
LEOFF 1 RETIREE MEDICAL BENEFITS
SCHEDULE OF FUNDING PROGRESS
(Dollar amounts in thousands)
$ Thousands
YEAR ENDING
12/31
ACTUARIAL
VALUE OF
ASSETS
ACTUARIAL
ACCRUED
LIABILITES
UNFUNDED
ACTUARIAL
ACCRUED
LIABILITIES
FUNDED
RATIO
COVERED
PAYROLL
UAAL AS A
PERCENTAGE
OF COVERED
PAYROLL
2008 $‐ $ 32,328 $ 32,328 0% $ 471 6864%
2011 ‐ 27,835 27,835 0% 434 6414%
2013 ‐ 41,633 41,633 0% 300 13878%
2014 42,306 42,306 0% 110 38460%
Required Supplementary Information, 5‐10
2015ComprehensiveAnnualFinancialReport CityofRenton,Washington
REQUIREDSUPPLEMENTALINFORMATION
LEOFF1RETIREEMEDICALBENEFITS
SCHEDULEOFEMPLOYERCONTRIBUTIONS
December31,2015
YEAR
ENDING
12/31
Employer
Contributions
AnnualRequired
Contribution(ARC)
PercentageofARC
Contributed
2010 983,868$1,733,753$57 %
2011 875,6991,758,80650
2012 1,254,7951,972,50264
2013 1,039,2812,009,36252
2014 1,095,1592,009,36255
2015 1,085,8852,737,29140
RequiredSupplementaryInformation,5Ͳ11
2015 Comprehensive Annual Financial Report City of Renton, Washington
Required Supplementary Information, 5‐12
This page intentionally left blank.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐1
Non‐Major Governmental Funds
Special Revenue Funds
ARTERIAL STREET FUND
The Arterial Street Fund was established pursuant to state law allocating the one‐half cent State
Gasoline Tax revenue to cities and towns for construction, improvements, and major repair of
streets.
HOTEL/MOTEL TAX 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.
1% FOR ART FUND
The City of Renton established this fund to account for one percent of construction project actual
costs to be used for the selection, acquisition and/or installation of works of art to be placed in,
on, or about City public facilities.
CABLE COMMUNICATIONS DEVELOPMENT FUND
The Cable Communications Development Fund accounts for funding for promotion and
development of cable communications as established by City ordinance.
SPRINGBROOK WETLANDS BANK FUND
The City of Renton established this fund in 2007 for the purpose of providing accounting for the
Springbrook Creek Wetland and Habitat Mitigation Bank project. The fund will receive revenue
by selling Wetlands Credits to third parties and to the City’s internal departments.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐2
Debt Service Funds
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT SERVICE FUND
This debt service fund accounts for the following outstanding debt issues:
2006 limited tax general obligation bonds which provided funding for the construction of
South Lake Washington infrastructure improvements.
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of
the Benson Hill annexation.
2009 intergovernmental debt related to acquisition, construction, and equipping of the
SCORE facility.
2010 intergovernmental refunding debt which refunded a portion of the 2000
intergovernmental debt for the construction of a new facility for Valley Communications
Center.
2010 limited tax general obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds for the construction of a downtown parking facility.
2011 limited tax general obligation bonds which funded the development and
construction of 2 new libraries.
2011 limited tax general obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds which refunded a portion of the 1997 limited tax
general obligation bonds for the purchase of Renton City Hall.
2013 limited tax general obligation qualified energy conservation bonds (QECB) which
provided funding for streetlight improvements.
2015 (A&B) limited tax general obligation refunding bonds which refunded a portion of
the 2006 limited tax general obligation bonds for the construction of South Lake
Washington infrastructure improvements.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐3
Capital Project Funds
COMMUNITY DEVELOPMENT IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
FIRE IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
TRANSPORTATION IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
CAPITAL IMPROVEMENT FUND
The Capital Improvement Fund supports the City of Renton transportation projects and projects
linked with various State and Federal funding programs. Many of the projects are dependent on
grants, formation of LID’s, and mitigation revenue.
2015 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐4
Non‐Major Proprietary Funds
Enterprise Funds
AIRPORT FUND
The Airport Fund accounts for revenues and expenses for administration, debt services,
operation, capital improvements, and maintenance of the Renton Municipal Airport and Will
Rodger‐Wily Post Memorial Seaplane Base. Sources of support to the fund are leases, fuel
charges, investment interest, and grant funding as available.
GOLF COURSE FUND
The Golf Course Fund was created after the City acquired the Maplewood Golf Course. The fund
accounts for the operation, maintenance, debt service, and capital improvements of the facility.
Internal Service Funds
EQUIPMENT RENTAL
The Equipment Rental Fund accounts for the costs of maintaining and replacing all City vehicles
and auxiliary equipment. In addition, this fund accounts for the City’s information technology,
facilities and communications costs. All costs, including depreciation, are factors in calculating
the rates that are charged to each user department.
INSURANCE FUND
The Insurance Fund provides accounting for self‐insurance services to all City departments,
including provisions for losses on property, liability, worker’s compensation, unemployment
compensation, and the health care program. Expenses are paid from the Insurance Fund and
rates are charged to departments based on use and/or coverage requirements.
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2015
Page 1 of 6
SPECIAL REVENUE FUNDS
ARTERIAL HOTEL/ CABLE
STREET MOTEL TAX COMMUNICATIONS
ASSETS
Cash & cash equivalents $ 19,442 $ 207,812 $ 215,579
Investments at fair value 10,598 113,285 117,519
Receivables (net of allowances):
Customer accounts ‐ ‐ 1,500
Accrued interest & penalty 1,644 1,017 1,335
Due from other governmental units 107,077 34,854 ‐
TOTAL ASSETS 138,761 356,968 335,933
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 138,761 $ 356,968 $ 335,933
LIABILITIES
Accounts payable $‐ $ 6,656 $ 4,194
TOTAL LIABILITIES ‐ 6,656 4,194
DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐
FUND BALANCES
Restricted 138,761 350,312 331,739
TOTAL FUND BALANCES 138,761 350,312 331,739
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 138,761 $ 356,968 $ 335,933
Combining Statements & Schedules, 6‐5
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2015
Page 2 of 6
SPECIAL REVENUE FUNDS
1% FOR SPRINGBROOK TOTAL
ART WETLANDS SRF
ASSETS
Cash & cash equivalents $ 71,670 $ 213,798 $ 728,301
Investments at fair value 39,070 116,548 397,020
Receivables (net of allowances):
Customer accounts ‐ ‐ 1,500
Accrued interest & penalty 420 2,008 6,424
Due from other governmental units ‐ ‐ 141,931
TOTAL ASSETS 111,160 332,354 1,275,176
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 111,160 $ 332,354 $ 1,275,176
LIABILITIES
Accounts payable $‐ $‐ $ 10,850
TOTAL LIABILITIES ‐ ‐ 10,850
DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐
FUND BALANCES
Restricted 111,160 332,354 1,264,326
TOTAL FUND BALANCES 111,160 332,354 1,264,326
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 111,160 $ 332,354 $ 1,275,176
Combining Statements & Schedules, 6‐6
2015 Comprehensive Annual Financial Report City of Renton, Washington
GENERAL TOTAL
DEBT DSF
ASSETS
Cash & cash equivalents $ 1,132,471 $ 1,132,471
Investments at fair value 617,346 617,346
Receivables (net of allowances):
Accrued interest & penalty 16,120 16,120
Due from other funds 570,977 570,977
Due from other governmental units 1,298,037 1,298,037
TOTAL ASSETS 3,634,951 3,634,951
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 3,634,951 $ 3,634,951
LIABILITIES
Unearned revenue $ 1,266,774 $ 1,266,774
TOTAL LIABILITIES 1,266,774 1,266,774
DEFERRED INFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐
FUND BALANCES
Restricted 2,368,177 2,368,177
TOTAL FUND BALANCES 2,368,177 2,368,177
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 3,634,951 $ 3,634,951
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2015
Page 3 of 6
DEBT SERVICE FUNDS
Combining Statements & Schedules, 6‐7
2015 Comprehensive Annual Financial Report City of Renton, Washington
C.D. IMPACT FIRE IMPACT TRANS. IMPACT
MITIGATION MITIGATION MITIGATION
ASSETS
Cash & cash equivalents $ 798,105 $ 779,634 $ 751,771
Investments 435,073 425,004 409,814
Receivables (net of allowances):
Customer accounts ‐ ‐ ‐
Accrued interest & penalty 5,818 4,532 5,225
Special assessments ‐ ‐ 9,236
Due from other governmental units ‐ ‐ ‐
TOTAL ASSETS 1,238,996 1,209,170 1,176,046
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 1,238,996 $ 1,209,170 $ 1,176,046
LIABILITIES
Accounts payable $‐ $‐ $ 229,768
Retainage payable ‐ ‐ ‐
Matured interest payable ‐ ‐ ‐
Interfund loans/advances ‐ non‐current ‐ ‐ ‐
TOTAL LIABILITIES ‐ ‐ 229,768
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ ‐ 9,236
Unavailable revenue ‐ ‐ 277
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ 9,513
FUND BALANCES
Restricted 1,238,996 1,209,170 936,765
Committed ‐ ‐ ‐
Assigned
Capital purposes ‐ ‐ ‐
TOTAL FUND BALANCES 1,238,996 1,209,170 936,765
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 1,238,996 $ 1,209,170 $ 1,176,046
CAPITAL PROJECT FUNDS
OTHER GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
Page 4 of 6
DECEMBER 31, 2015
Combining Statements & Schedules, 6‐8
2015 Comprehensive Annual Financial Report City of Renton, Washington
CAPITAL TOTAL
IMPROVEMENT CPF
ASSETS
Cash & cash equivalents $ 3,479,260 $ 5,808,770
Investments 1,896,656 3,166,547
Receivables (net of allowances):
Customer accounts 2,214 2,214
Accrued interest & penalty 12,582 28,157
Special assessments ‐ 9,236
Due from other governmental units 1,925,855 1,925,855
TOTAL ASSETS 7,316,567 10,940,779
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 7,316,567 $ 10,940,779
Liabilities
Accounts payable $ 1,296,025 $ 1,525,793
Retainage payable 337,741 337,741
Matured interest payable 1,920 1,920
Interfund loans/advances ‐ non‐current 146,298 146,298
TOTAL LIABILITIES 1,781,984 2,011,752
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ 9,236
Unavailable revenue 2,152 2,429
TOTAL DEFERRED INFLOWS OF RESOURCES 2,152 11,665
FUND BALANCES
Restricted 258,424 3,643,355
Committed 2,476,776 2,476,776
Assigned
Capital purposes 2,797,231 2,797,231
TOTAL FUND BALANCES 5,532,431 8,917,362
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 7,316,567 $ 10,940,779
CAPITAL PROJECT FUNDS
Page 5 of 6
DECEMBER 31, 2015
OTHER GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
Combining Statements & Schedules, 6‐9
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL OTHER
TOTAL TOTAL TOTAL GOVERNMENTAL
SRF DSF CPF FUNDS
ASSETS
Cash & cash equivalents $ 728,301 $ 1,132,471 $ 5,808,770 $ 7,669,542
Investments at fair value 397,020 617,346 3,166,547 4,180,913
Receivables (net of allowances):
Customer accounts 1,500 ‐ 2,214 3,714
Accrued interest & penalty 6,424 16,120 28,157 50,701
Special assessments ‐ ‐ 9,236 9,236
Due from other funds ‐ 570,977 ‐ 570,977
Due from other governmental units 141,931 1,298,037 1,925,855 3,365,823
TOTAL ASSETS 1,275,176 3,634,951 10,940,779 15,850,906
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF
RESOURCES $ 1,275,176 $ 3,634,951 $ 10,940,779 $ 15,850,906
LIABILITIES
Accounts payable $ 10,850 $‐ $ 1,525,793 $ 1,536,643
Retainage payable ‐ ‐ 337,741 337,741
Matured interest payable ‐ ‐ 1,920 1,920
Unearned revenue ‐ 1,266,774 ‐ 1,266,774
Interfund loans/advances ‐ non‐current ‐ ‐ 146,298 146,298
TOTAL LIABILITIES 10,850 1,266,774 2,011,752 3,289,376
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ ‐ 9,236 9,236
Unavailable revenue ‐ ‐ 2,429 2,429
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ 11,665 11,665
FUND BALANCES
Restricted 1,264,326 2,368,177 3,643,355 7,275,858
Committed ‐ ‐ 2,476,776 2,476,776
Assigned ‐ ‐ ‐ ‐
Capital purposes ‐ ‐ 2,797,231 2,797,231
TOTAL FUND BALANCES 1,264,326 2,368,177 8,917,362 12,549,865
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES $ 1,275,176 $ 3,634,951 $ 10,940,779 $ 15,850,906
Page 6 of 6
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2015
Combining Statements & Schedules, 6‐10
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 1 of 6
SPECIAL REVENUE FUNDS
ARTERIAL HOTEL/ CABLE
STREET MOTEL TAX COMMUNICATIONS
REVENUES
Taxes $‐ $ 290,894 $ 40,000
Licenses and permits ‐ ‐ 61,399
Intergovernmental revenues 660,507 ‐ ‐
Contributions ‐ 25,000 ‐
Interest 1,395 1,328 1,612
Miscellaneous revenues ‐ ‐ 1,500
TOTAL REVENUES 661,902 317,222 104,511
EXPENDITURES
Current:
Economic environment ‐ 216,738 ‐
Culture and recreation ‐ ‐ 30,989
TOTAL EXPENDITURES ‐ 216,738 30,989
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 661,902 100,484 73,522
OTHER FINANCING SOURCES (USES)
Transfer in ‐ ‐ ‐
Transfer (out) (640,000) ‐ (56,168)
TOTAL OTHER FINANCE SOURCES (USES) (640,000) ‐ (56,168)
NET CHANGE IN FUND BALANCE 21,902 100,484 17,354
FUND BALANCE JANUARY 1 116,859 249,828 314,385
FUND BALANCE DECEMBER 31 $ 138,761 $ 350,312 $ 331,739
Combining Statements & Schedules, 6‐11
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 2 of 6
SPECIAL REVENUE FUNDS
1% FOR SPRINGBROOK TOTAL
ART WETLANDS SRF
REVENUES
Taxes $‐ $‐ $ 330,894
Licenses and permits ‐ ‐ 61,399
Intergovernmental revenues ‐ ‐ 660,507
Contributions ‐ ‐ 25,000
Interest 503 1,647 6,485
Miscellaneous revenues ‐ ‐ 1,500
TOTAL REVENUES 503 1,647 1,085,785
EXPENDITURES
Current:
Economic environment ‐ ‐ 216,738
Culture and recreation ‐ ‐ 30,989
TOTAL EXPENDITURES ‐ ‐ 247,727
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 503 1,647 838,058
OTHER FINANCING SOURCES (USES)
Transfer in 9,344 ‐ 9,344
Transfer (out)‐ ‐ (696,168)
TOTAL OTHER FINANCE SOURCES (USES) 9,344 ‐ (686,824)
NET CHANGE IN FUND BALANCE 9,847 1,647 151,234
FUND BALANCE JANUARY 1 101,313 330,707 1,113,092
FUND BALANCE DECEMBER 31 $ 111,160 $ 332,354 $ 1,264,326
Combining Statements & Schedules, 6‐12
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 3 of 6
DEBT SERVICE FUNDS
GENERAL TOTAL
DEBT DSF
REVENUES
Taxes $ 6,430,043 $ 6,430,043
Intergovernmental revenues 403,635 403,635
Interest 16,323 16,323
TOTAL REVENUES 6,850,001 6,850,001
EXPENDITURES
Debt service:
Principal payments 4,834,225 4,834,225
Interest and fiscal charges 1,655,953 1,655,953
TOTAL EXPENDITURES 6,490,178 6,490,178
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 359,823 359,823
OTHER FINANCING SOURCES (USES)
Transfer in 250,000 250,000
Refunding bonds issued 12,520,000 12,520,000
Premium on general obligation debt 1,171,804 1,171,804
Payment to refunded bond escrow agent (13,573,341) (13,573,341)
TOTAL OTHER FINANCE SOURCES (USES) 368,463 368,463
NET CHANGE IN FUND BALANCE 728,286 728,286
FUND BALANCE JANUARY 1 1,639,891 1,639,891
FUND BALANCE DECEMBER 31 $ 2,368,177 $ 2,368,177
Combining Statements & Schedules, 6‐13
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 4 of 6
CAPITAL PROJECT FUNDS
C.D. IMPACT FIRE IMPACT TRANS. IMPACT
MITIGATION MITIGATION MITIGATION
REVENUES
Licenses and permits $‐ $‐ $‐
Intergovernmental revenues ‐ ‐ ‐
Charges for services 466,444 527,797 1,238,172
Fines and forfeits ‐ ‐ ‐
Contributions ‐ ‐ ‐
Interest 7,029 5,492 6,834
Miscellaneous revenues ‐ ‐ ‐
TOTAL REVENUES 473,473 533,289 1,245,006
EXPENDITURES ‐ ‐ ‐
Current:
Transportation ‐ ‐ ‐
Capital outlay:
Transportation
Debt service:‐
Interest and fiscal charges ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 473,473 533,289 1,245,006
OTHER FINANCING SOURCES (USES)
Transfer in ‐ ‐ ‐
Transfer (out) (472,264) (250,000) (1,152,335)
TOTAL OTHER FINANCE SOURCES (USES) (472,264) (250,000) (1,152,335)
NET CHANGE IN FUND BALANCE 1,209 283,289 92,671
FUND BALANCE JANUARY 1 1,237,787 925,881 844,094
FUND BALANCE DECEMBER 31 $ 1,238,996 $ 1,209,170 $ 936,765
Combining Statements & Schedules, 6‐14
2015 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 5 of 6
CAPITAL PROJECT FUNDS
CAPITAL TOTAL
IMPROVEMENT CPF
REVENUES
Licenses and permits $ 2,118,351 $ 2,118,351
Intergovernmental revenues 3,293,991 3,293,991
Charges for services ‐ 2,232,413
Fines and forfeits 26,693 26,693
Contributions 4,324 4,324
Interest 23,174 42,529
Miscellaneous revenues 43 43
TOTAL REVENUES 5,466,576 7,718,344
EXPENDITURES ‐ ‐
Current:
Transportation 1,896,904 1,896,904
Capital outlay:
Transportation 5,328,566 5,328,566
Debt service:‐
Interest and fiscal charges 4,633 4,633
TOTAL EXPENDITURES 7,230,103 7,230,103
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,763,527) 488,241
OTHER FINANCING SOURCES (USES)
Transfer in 2,940,021 2,940,021
Transfer (out)(14,344) (1,888,943)
TOTAL OTHER FINANCE SOURCES (USES) 2,925,677 1,051,078
NET CHANGE IN FUND BALANCE 1,162,150 1,539,319
FUND BALANCE JANUARY 1 4,370,281 7,378,043
FUND BALANCE DECEMBER 31 $ 5,532,431 $ 8,917,362
Combining Statements & Schedules, 6‐15
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL OTHER
TOTAL TOTAL TOTAL GOVERNMENTAL
SRF DSF CPF FUNDS
REVENUES
Taxes $ 330,894 $ 6,430,043 $‐ $ 6,760,937
Licenses and permits 61,399 ‐ 2,118,351 2,179,750
Intergovernmental revenues 660,507 403,635 3,293,991 4,358,133
Charges for services ‐ ‐ 2,232,413 2,232,413
Fines and forfeits ‐ ‐ 26,693 26,693
Contributions 25,000 ‐ 4,324 29,324
Interest 6,485 16,323 42,529 65,337
Miscellaneous revenues 1,500 ‐ 43 1,543
TOTAL REVENUES 1,085,785 6,850,001 7,718,344 15,654,130
EXPENDITURES
Current:
Transportation ‐ ‐ 1,896,904 1,896,904
Economic environment 216,738 ‐ ‐ 216,738
Culture and recreation 30,989 ‐ ‐ 30,989
Capital outlay:
Transportation ‐ ‐ 5,328,566 5,328,566
Debt service:
Principal payments ‐ 4,834,225 ‐ 4,834,225
Interest and fiscal charges ‐ 1,655,953 4,633 1,660,586
TOTAL EXPENDITURES 247,727 6,490,178 7,230,103 13,968,008
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 838,058 359,823 488,241 1,686,122
OTHER FINANCING SOURCES (USES)
Transfer in 9,344 250,000 2,940,021 3,199,365
Transfer (out) (696,168) ‐ (1,888,943) (2,585,111)
Refunding bonds issued ‐ 12,520,000 ‐ 12,520,000
Premium on general obligation debt ‐ 1,171,804 ‐ 1,171,804
Payment to refunded bond escrow agent ‐ (13,573,341) ‐ (13,573,341)
TOTAL OTHER FINANCE SOURCES (USES) (686,824) 368,463 1,051,078 732,717
NET CHANGE IN FUND BALANCE 151,234 728,286 1,539,319 2,418,839
FUND BALANCE JANUARY 1 1,113,092 1,639,891 7,378,043 10,131,026
FUND BALANCE DECEMBER 31 $ 1,264,326 $ 2,368,177 $ 8,917,362 $ 12,549,865
Page 6 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐16
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Intergovernmental revenues $ 640,000 $ 640,000 $ 660,507 $ 20,507
Interest ‐ ‐ 1,395 1,395
TOTAL REVENUES 640,000 640,000 661,902 21,902
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 640,000 640,000 661,902 21,902
OTHER FINANCING SOURCES (USES)
Transfer (out) (640,000) (640,000) (640,000) ‐
TOTAL OTHER FINANCE SOURCES (USES) (640,000) (640,000) (640,000) ‐
NET CHANGE IN FUND BALANCE ‐ ‐ 21,902 21,902
FUND BALANCE JANUARY 1 15,689 14,885 116,859 101,974
FUND BALANCE DECEMBER 31 $ 15,689 $ 14,885 $ 138,761 $ 123,876
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ ARTERIAL STREET FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐17
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 200,000 $ 200,000 $ 290,894 $ 90,894
Contributions 65,000 65,000 25,000 (40,000)
Interest ‐ ‐ 1,328 1,328
TOTAL REVENUES 265,000 265,000 317,222 52,222
EXPENDITURES
Current:
Economic environment 245,000 283,942 216,738 (67,204)
TOTAL EXPENDITURES 245,000 283,942 216,738 (67,204)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 20,000 (18,942) 100,484 119,426
OTHER FINANCING SOURCES (USES)‐ ‐ ‐ ‐
TOTAL OTHER FINANCE SOURCES (USES)‐ ‐ ‐ ‐
NET CHANGE IN FUND BALANCE 20,000 (18,942) 100,484 119,426
FUND BALANCE JANUARY 1 135,913 219,090 249,828 30,738
FUND BALANCE DECEMBER 31 $ 155,913 $ 200,148 $ 350,312 $ 150,164
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ HOTEL/MOTEL TAX FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐18
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Interest $‐ $‐ $ 503 $ 503
TOTAL REVENUES ‐ ‐ 503 503
EXPENDITURES
Capital outlay:
Culture and recreation 102,950 102,950 ‐
TOTAL EXPENDITURES 102,950 102,950 ‐ ‐
OVER EXPENDITURES (102,950) (102,950) 503 503
OTHER FINANCING SOURCES (USES)
Transfer in 15,000 15,000 9,344 (5,656)
TOTAL OTHER FINANCE SOURCES (USES) 15,000 15,000 9,344 (5,656)
NET CHANGE IN FUND BALANCE (87,950) (87,950) 9,847 (5,153)
FUND BALANCE JANUARY 1 92,771 101,380 101,313 (67)
FUND BALANCE DECEMBER 31 $ 4,821 $ 13,430 $ 111,160 $ (5,220)
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ 1% FOR ART FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐19
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 40,000 $ 40,000 $ 40,000 $‐
Licenses and permits 57,674 57,674 61,399 3,725
Interest ‐ ‐ 1,612 1,612
Miscellaneous revenues ‐ ‐ 1,500 1,500
TOTAL REVENUES 97,674 97,674 104,511 6,837
EXPENDITURES
Current:
Culture and recreation 57,674 57,674 30,989 (26,685)
Capital outlay:
Culture and recreation 40,000 60,000 ‐ (60,000)
TOTAL EXPENDITURES 97,674 117,674 30,989 (86,685)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ‐ (20,000) 73,522 93,522
OTHER FINANCING SOURCES (USES)‐ ‐ ‐ ‐
Transfer (out)‐ ‐ (56,168) 56,168
TOTAL OTHER FINANCE SOURCES (USES)‐ ‐ (56,168) (56,168)
NET CHANGE IN FUND BALANCE ‐ (20,000) 17,354 37,354
FUND BALANCE JANUARY 1 285,632 313,090 314,385 1,295
FUND BALANCE DECEMBER 31 $ 285,632 $ 293,090 $ 331,739 $ 38,649
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ CABLE COMMUNICATIONS DEVELOPMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐20
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Interest $‐ $‐ $ 1,647 $ 1,647
TOTAL REVENUES ‐ ‐ 1,647 1,647
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ‐ ‐ 1,647 1,647
OTHER FINANCING SOURCES (USES)
TOTAL OTHER FINANCE SOURCES (USES)‐ ‐ ‐ ‐
NET CHANGE IN FUND BALANCE ‐ ‐ 1,647 1,647
FUND BALANCE JANUARY 1 669,613 330,922 330,707 (215)
FUND BALANCE DECEMBER 31 $ 669,613 $ 330,922 $ 332,354 $ 1,432
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ SPRINGBROOK WETLANDS BANK FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐21
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 5,803,720 $ 5,803,720 $ 6,430,043 $ 626,323
Intergovernmental revenues 409,868 409,868 403,635 (6,233)
Interest ‐ ‐ 16,323 16,323
TOTAL REVENUES 6,213,588 6,213,588 6,850,001 636,413
EXPENDITURES
Debt service:
Principal payments 4,504,225 4,504,225 4,834,225 330,000
Interest and fiscal charges 1,959,363 2,073,722 1,655,953 (417,769)
TOTAL EXPENDITURES 6,463,588 6,577,947 6,490,178 (87,769)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (250,000) (364,359) 359,823 724,182
OTHER FINANCING SOURCES (USES)
Transfers in 250,000 250,000 250,000 ‐
Refunding bonds issued ‐ 13,691,804 12,520,000 (1,171,804)
Premium on general obligation debt ‐ ‐ 1,171,804 1,171,804
Payment to refunded bond escrow agent ‐ (13,573,341) (13,573,341) ‐
TOTAL OTHER FINANCE SOURCES (USES) 250,000 368,463 368,463 ‐
NET CHANGE IN FUND BALANCE ‐ 4,104 728,286 724,182
FUND BALANCE JANUARY 1 1,115,674 1,471,071 1,639,891 168,820
FUND BALANCE DECEMBER 31 $ 1,115,674 $ 1,475,175 $ 2,368,177 $ 893,002
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL GOVERNMENTAL MISCELLANEOUS DEBT SERVICE FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐22
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 86,500 $ 86,500 $ 466,444 $ 379,944
Interest ‐ ‐ 7,029 7,029
TOTAL REVENUES 86,500 86,500 473,473 386,973
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 86,500 86,500 473,473 386,973
OTHER FINANCING SOURCES (USES)‐ ‐ ‐ ‐
Transfer (out)‐ (472,264) (472,264) ‐
TOTAL OTHER FINANCE SOURCES (USES)‐ (472,264) (472,264) ‐
NET CHANGE IN FUND BALANCE 86,500 (385,764) 1,209 386,973
FUND BALANCE JANUARY 1 1,110,618 1,238,600 1,237,787 (813)
FUND BALANCE DECEMBER 31 $ 1,197,118 $ 852,836 $ 1,238,996 $ 386,160
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ COMMUNITY DEVELOPMENT IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐23
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 99,000 $ 99,000 $ 527,797 $ 428,797
Interest ‐ ‐ 5,492 5,492
TOTAL REVENUES 99,000 99,000 533,289 434,289
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 99,000 99,000 533,289 434,289
OTHER FINANCING SOURCES (USES)
Transfer (out) (250,000) (250,000) (250,000) ‐
TOTAL OTHER FINANCE SOURCES (USES) (250,000) (250,000) (250,000) ‐
NET CHANGE IN FUND BALANCE (151,000) (151,000) 283,289 434,289
FUND BALANCE JANUARY 1 846,165 926,488 925,881 (607)
FUND BALANCE DECEMBER 31 $ 695,165 $ 775,488 $ 1,209,170 $ 433,682
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ FIRE IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐24
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 215,500 $ 599,000 $ 1,238,172 $ 639,172
Interest 1,000 1,000 6,834 5,834
TOTAL REVENUES 216,500 600,000 1,245,006 645,006
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 216,500 600,000 1,245,006 645,006
Transfer (out) (196,000) (1,152,335) (1,152,335) ‐
TOTAL OTHER FINANCE SOURCES (USES) (196,000) (1,152,335) (1,152,335) ‐
NET CHANGE IN FUND BALANCE 20,500 (552,335) 92,671 645,006
FUND BALANCE JANUARY 1 749,185 844,648 844,094 (554)
FUND BALANCE DECEMBER 31 $ 769,685 $ 292,313 $ 936,765 $ 644,452
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ TRANSPORTATION IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐25
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 1,325,000 $ 1,725,000 $ 2,271,945 $ 546,945
Licenses and permits 500,000 500,000 465,837 (34,163)
Intergovernmental revenues 197,000 1,295,145 1,216,548 (78,597)
Charges for services ‐ 3,870 3,870 ‐
Contributions 15,000 15,000 ‐ (15,000)
Interest 7,000 7,000 84,035 77,035
Miscellaneous revenues ‐ ‐ 621 621
TOTAL REVENUES 2,044,000 3,546,015 4,042,856 496,841
EXPENDITURES
Current:
General government ‐ ‐ 110,521 110,521
Economic environment ‐ 274,685 140,096 (134,589)
Culture and recreation 831,000 1,003,872 823,497 (180,375)
Capital outlay:
General government 580,000 9,093,000 111,868 (8,981,132)
Transportation 175,000 270,094 ‐ (270,094)
Culture and recreation 1,780,000 22,599,276 15,206,216 (7,393,060)
TOTAL EXPENDITURES 3,366,000 33,240,927 16,392,198 (16,848,729)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,322,000) (29,694,912) (12,349,342) 17,345,570
OTHER FINANCING SOURCES (USES)
Proceeds of interfund loan ‐ 4,000,000 ‐ (4,000,000)
Transfer in 1,300,000 6,122,264 6,122,264 ‐
Transfer (out)‐ (532,322) (532,322) ‐
Sale of capital assets ‐ 500,000 ‐ (500,000)
TOTAL OTHER FINANCE SOURCES (USES) 1,300,000 10,089,942 5,589,942 (4,500,000)
NET CHANGE IN FUND BALANCE (22,000) (19,604,970) (6,759,400) 12,845,570
FUND BALANCE JANUARY 1 1,514,288 20,910,512 21,186,202 275,690
FUND BALANCE DECEMBER 31 $ 1,492,288 $ 1,305,542 $ 14,426,802 $ 13,121,260
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ MUNICIPAL FACILITIES CAPITAL IMPROVEMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐26
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Licenses and permits $ 1,990,000 $ 2,000,000 $ 2,118,351 $ 118,351
Intergovernmental revenues 10,216,628 11,976,401 3,293,991 (8,682,410)
Fines and forfeits ‐ ‐ 26,693 26,693
Contributions ‐ 275,777 4,324 (271,453)
Interest ‐ ‐ 23,174 23,174
Miscellaneous revenues ‐ ‐ 43 43
TOTAL REVENUES 12,206,628 14,252,178 5,466,576 (8,785,602)
EXPENDITURES
Current:
Transportation ‐ ‐ 1,896,904 1,896,904
Capital outlay:
Transportation 14,110,040 18,821,179 5,328,566 (13,492,613)
Debt service:
Principal payment 143,079 143,079 ‐ (143,079)
Interest payment 6,511 6,511 4,633 (1,878)
TOTAL EXPENDITURES 14,259,630 18,970,769 7,230,103 (11,740,666)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (2,053,002) (4,718,591) (1,763,527) 2,955,064
OTHER FINANCING SOURCES (USES)
Transfer in 961,000 2,940,021 2,940,021 ‐
Transfer (out) (15,000) (20,000) (14,344) (5,656)
Sale of capital assets ‐ (561,335) ‐ 561,335
TOTAL OTHER FINANCE SOURCES (USES) 946,000 2,358,686 2,925,677 566,991
NET CHANGE IN FUND BALANCE (1,107,002) (2,359,905) 1,162,150 3,522,055
FUND BALANCE JANUARY 1 1,434,436 4,059,718 4,370,281 310,563
FUND BALANCE DECEMBER 31 $ 327,434 $ 1,699,813 $ 5,532,431 $ 3,832,618
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐27
2015 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 923,646 $ 78,367 $ 1,002,013
Investments at fair value 503,509 42,720 546,229
Receivables (net of allowances):
Customer accounts 64,046 15,479 79,525
Interest ‐ investments 6,691 2,433 9,124
Due from other governmental units 654,171 ‐ 654,171
Inventory of materials and supplies ‐ 59,697 59,697
Total current assets 2,152,063 198,696 2,350,759
Noncurrent assets:
Capital assets not being depreciated:
Land 784,080 2,683,200 3,467,280
Construction in progress 1,631,377 ‐ 1,631,377
Capital assets, net of
accumulated depreciation:
Buildings, improvements and equipment 20,583,152 4,797,199 25,380,351
Total noncurrent assets 22,998,609 7,480,399 30,479,008
TOTAL ASSETS 25,150,672 7,679,095 32,829,767
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 41,767 77,454 119,221
TOTAL DEFERRED OUTFLOWS OF RESOURCES $41,767 $77,454 $119,221
COMBINING STATEMENT OF NET POSITION
NON‐MAJOR ENTERPRISE FUNDS
DECEMBER 31, 2015
Page 1 of 2
Combining Statements & Schedules, 6‐28
2015 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 244,114 $ 7,662 $ 251,776
Accrued wages and benefits payable 40,814 58,246 99,060
Accrued taxes payable 74,344 7,756 82,100
Custodial accounts ‐ 220,219 220,219
Unearned revenue 179,848 ‐ 179,848
Total current liabilities 539,120 293,883 833,003
Long‐term liabilities:
Accrued wages and benefits payable 28,342 66,906 95,248
Net pension liability 337,152 652,897 990,049
Total long‐term liabilities 365,494 719,803 1,085,297
TOTAL LIABILITIES 904,614 1,013,686 1,918,300
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 51,418 99,572 150,990
TOTAL DEFERRED INFLOWS OF RESOURCES 51,418 99,572 150,990
NET POSITION
Net investment in capital assets 22,998,609 7,480,399 30,479,008
Unrestricted 1,237,798 (837,108) 400,690
TOTAL NET POSITION $ 24,236,407 $ 6,643,291 $ 30,879,698
NON‐MAJOR ENTERPRISE FUNDS
COMBINING STATEMENT OF NET POSITION
DECEMBER 31, 2015
Page 2 of 2
Combining Statements & Schedules, 6‐29
2015 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
OPERATING REVENUES:
Charges for services $ 146,879 $ 1,901,082 $ 2,047,961
Miscellaneous 2,467,432 401,553 2,868,985
TOTAL OPERATING REVENUES 2,614,311 2,302,635 4,916,946
OPERATING EXPENSES:
Supplies 67,747 325,004 392,751
Personnel services 645,627 1,369,092 2,014,719
Contracted services 2,045,934 244,570 2,290,504
Taxes 2,172 9,888 12,060
Depreciation and amortization 1,056,721 244,112 1,300,833
TOTAL OPERATING EXPENSES 3,818,201 2,192,666 6,010,867
OPERATING INCOME (LOSS) (1,203,890) 109,969 (1,093,921)
NON‐OPERATING REVENUES (EXPENSES):
Intergovernmental revenues 215,054 ‐ 215,054
Interest revenues 5,912 1,831 7,743
Gain (loss) on capital assets (500,883) ‐ (500,883)
Other non‐operating revenues (expenses)286 7,659 7,945
Interest expense ‐ (8,074) (8,074)
NON‐OPERATING REVENUE NET OF EXPENSES (279,631) 1,416 (278,215)
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS (1,483,521) 111,385 (1,372,136)
Capital Contributions 1,652,369 ‐ 1,652,369
CHANGE IN NET POSITION 168,848 111,385 280,233
NET POSITION, JANUARY 1 24,543,840 7,237,665 31,781,505
Change in accounting principle ‐ GASB 68 (476,281) (705,759) (1,182,040)
NET POSITION, DECEMBER 31 $ 24,236,407 $ 6,643,291 $ 30,879,698
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
NON ‐ MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
BUSINESS‐TYPE ACTIVITIES
Combining Statements & Schedules, 6‐30
2015 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services $ 2,664,670 $ 2,306,784 $ 4,971,454
Cash paid to suppliers for goods & services (2,110,424) (581,472) (2,691,896)
Cash paid to employees (753,506) (1,394,679) (2,148,185)
Other non‐operating receipts 286 7,659 7,945
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES (198,974) 338,292 139,318
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Operating grants 350,529 ‐ 350,529
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 350,529 ‐ 350,529
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Acquisition & construction of capital assets (1,761,283) ‐ (1,761,283)
Capital grants 1,652,369 ‐ 1,652,369
Principal payments on debt ‐ (391,853) (391,853)
Interest payments on debt ‐ (8,808) (8,808)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (108,914) (400,661) (509,575)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of investments 60,248 31,550 91,798
Interest on investments 5,574 1,794 7,368
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES 65,822 33,344 99,166
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 108,463 (29,025) 79,438
CASH & CASH EQUIVALENTS, JANUARY 1 815,183 107,392 922,575
CASH & CASH EQUIVALENTS, DECEMBER 31 $ 923,646 $ 78,367 $ 1,002,013
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
NON‐MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 1 of 2
Combining Statements & Schedules, 6‐31
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ (1,203,890) $ 109,969 $ (1,093,921)
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 1,056,721 244,112 1,300,833
Other non‐operating revenue 286 7,659 7,945
(Increase) decrease in
accounts receivable 31,098 (10,096) 21,002
(Increase) decrease in inventory
& prepaid items ‐ 4,015 4,015
(Increase) decrease in deferred outflows
related to pensions (20,291) (38,775) (59,066)
Increase (decrease) in operating
accounts payable 2,674 (4,504) (1,830)
Increase (decrease) in accrued taxes
& other short‐term liabilities 2,755 (1,521) 1,234
Increase (decrease) in
customer deposits ‐ 14,245 14,245
Increase (decrease) in
unearned revenues 19,261 ‐ 19,261
Increase (decrease) in accrued
employee leave benefits 22,836 7,731 30,567
Increase (decrease) in net pension liability
and deferred inflows related to pensions (110,424) 5,457 (104,967)
Total adjustments 1,004,916 228,323 1,233,239
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ (198,974) $ 338,292 $ 139,318
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Loss on disposal of capital assets $ 500,883 $‐ $ 500,883
Depreciation & amortization $ 1,056,721 $ 244,112 $ 1,300,833
ENTERPRISE FUNDS
BUSINESS‐TYPE ACTIVITIES
STATEMENT OF CASH FLOWS
NON‐MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 2 of 2
Combining Statements & Schedules, 6‐32
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 6,522,668 $ 18,984,525 $ 25,507,193
Investments at fair value 3,555,715 10,349,072 13,904,787
Receivables (net of allowances):
Customer accounts 7,110 2,838 9,948
Interest ‐ investments 36,906 108,624 145,530
Interfund loan receivable ‐ 321,298 321,298
Due from other governmental units 3,444 ‐ 3,444
Inventory of materials and supplies 180,632 ‐ 180,632
Prepayments ‐ 53,000 53,000
Total current assets 10,306,475 29,819,357 40,125,832
Noncurrent assets:
Advances to other funds ‐ 700,000 700,000
Capital assets not being depreciated:
Construction in progress 76,481 ‐ 76,481
Capital assets, net of
accumulated depreciation:
Buldings, improvements and equipment 11,916,980 ‐ 11,916,980
Intangible assets 505,706 ‐ 505,706
Total noncurrent assets 12,499,167 700,000 13,199,167
TOTAL ASSETS 22,805,642 30,519,357 53,324,999
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 404,343 39,405 443,748
TOTAL DEFERRED OUTFLOWS OF RESOURCES $404,343 $39,405 $443,748
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
DECEMBER 31, 2015
Page 1 of 2
Combining Statements & Schedules, 6‐33
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 425,847 $ 101,298 $ 527,145
Claims incurred but not reported ‐ 3,863,874 3,863,874
Retainage payable 6,548 ‐ 6,548
Accrued employee wages and benefits 292,391 24,634 317,025
Accrued taxes payable 70 ‐ 70
Unearned revenue ‐ 1,723 1,723
Total current liabilities 724,856 3,991,529 4,716,385
Long‐term liabilities:
Accrued employee wages and benefits 345,525 25,421 370,946
Net pension liability 3,400,954 329,124 3,730,078
Total long‐term liabilities 3,746,479 354,545 4,101,024
TOTAL LIABILITIES 4,471,335 4,346,074 8,817,409
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 518,672 50,193 568,865
TOTAL DEFERRED INFLOWS OF RESOURCES 518,672 50,193 568,865
NET POSITION
Net investment in capital assets 12,499,167 ‐ 12,499,167
Unrestricted 5,720,811 26,162,495 31,883,306
TOTAL NET POSITION $ 18,219,978 $ 26,162,495 $ 44,382,473
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
DECEMBER 31, 2015
Page 2 of 2
Combining Statements & Schedules, 6‐34
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
OPERATING REVENUES:
Charges for services $ 16,083,498 $ 18,740,292 $ 34,823,790
Miscellaneous 183,288 ‐ 183,288
TOTAL OPERATING REVENUES 16,266,786 18,740,292 35,007,078
OPERATING EXPENSES:
Supplies 1,949,284 7,661 1,956,945
Personnel services 5,712,513 588,296 6,300,809
Contracted services 3,785,806 957,404 4,743,210
Insurance ‐ 15,661,467 15,661,467
Taxes 1,841 86,280 88,121
Depreciation and amortization 2,311,012 ‐ 2,311,012
TOTAL OPERATING EXPENSES 13,760,456 17,301,108 31,061,564
OPERATING INCOME (LOSS) 2,506,330 1,439,184 3,945,514
NON‐OPERATING REVENUES (EXPENSES):
Intergovernmental revenues ‐ 40,057 40,057
Interest revenues 45,937 148,905 194,842
Gain (loss) on sale of capital assets 17,109 ‐ 17,109
Other non‐operating revenues (expenses)9,651 4,829 14,480
Insurance recoveries 1,649 94,061 95,710
NON‐OPERATING REVENUE NET OF EXPENSE 74,346 287,852 362,198
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS 2,580,676 1,727,036 4,307,712
Transfers in 415,905 1,300,000 1,715,905
Transfers (out)‐ (125,000) (125,000)
CHANGE IN NET POSITION 2,996,581 2,902,036 5,898,617
NET POSITION, JANUARY 1 18,835,167 23,594,634 42,429,801
Change in accounting principle ‐ GASB 68 (3,611,770) (334,175) (3,945,945)
NET POSITION, DECEMBER 31 $ 18,219,978 $ 26,162,495 $ 44,382,473
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Combining Statements & Schedules, 6‐35
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from other funds for services $ 16,263,171 $ 18,828,097 $ 35,091,268
Cash paid to suppliers for goods & services (5,699,556) (16,332,367) (22,031,923)
Cash paid to employees (5,789,312) (583,405) (6,372,717)
Other non‐operating receipts 11,300 98,890 110,190
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 4,785,603 2,011,215 6,796,818
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 415,905 1,300,000 1,715,905
Transfers to other funds ‐ (125,000) (125,000)
Operating grants ‐ 40,057 40,057
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 415,905 1,215,057 1,630,962
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment 139,836 ‐ 139,836
Acquisition & construction of capital assets (4,382,247) ‐ (4,382,247)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (4,242,411) ‐ (4,242,411)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal proceeds from interfund loans ‐ 534,933 534,933
Payments for interfund loans ‐ (875,000) (875,000)
Proceeds from sale of investments 158,014 415,216 573,230
Interest on investments and loans 35,567 118,129 153,696
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES 193,581 193,278 386,859
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 1,152,678 3,419,550 4,572,228
CASH & CASH EQUIVALENTS, JANUARY 1 5,369,990 15,564,975 20,934,965
CASH & CASH EQUIVALENTS, DECEMBER 31 $ 6,522,668 $ 18,984,525 $ 25,507,193
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 1 of 2
Combining Statements & Schedules, 6‐36
2015 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ 2,506,330 $ 1,439,184 $ 3,945,514
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 2,311,012 ‐ 2,311,012
Other non‐operating revenue 11,300 98,890 110,190
(Increase) decrease in
accounts receivable (3,674) 87,805 84,131
(Increase) decrease in inventory
& prepaid items (9,149) ‐ (9,149)
(Increase) decrease in deferred outflows
related to pensions (205,860) (20,707) (226,567)
Increase (decrease) in operating
accounts payable 75,196 (341,083) (265,887)
Increase (decrease) in due to
other funds (34,058) ‐ (34,058)
Increase (decrease) in accrued taxes
& other short‐term liabilities 5,456 721,528 726,984
Increase (decrease) in
unearned revenues (11) 208 197
Increase (decrease) in accrued
employee wages and benefits 36,032 388 36,420
Increase (decrease) in net pension liability
and deferred inflows related to pensions 93,029 25,002 118,031
Total adjustments 2,279,273 572,031 2,851,304
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 4,785,603 $ 2,011,215 $ 6,796,818
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Depreciation & amortization $ 2,311,012 $‐ $ 2,311,012
FOR THE YEAR ENDED DECEMBER 31, 2015
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
Page 2 of 2
Combining Statements & Schedules, 6‐37
2015 Comprehensive Annual Financial Report City of Renton, Washington
BEGINNING ENDING
BALANCE DEBITS CREDITS BALANCE
ASSETS
Cash $ 729,168 $ 757,854 $ 552,845 $ 934,177
TOTAL ASSETS $ 729,168 $ 757,854 $ 552,845 $ 934,177
LIABILITIES
Deposits payable $ 729,168 $ 1,197,424 $ 1,402,433 $ 934,177
TOTAL LIABILITIES $ 729,168 $ 1,197,424 $ 1,402,433 $ 934,177
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND ‐ SPECIAL DEPOSIT
FOR THE YEAR ENDED DECEMBER 31, 2015
Page 1 of 1
Combining Statements & Schedules, 6‐38
2015 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7‐1
STATISTICAL SECTION
December 31, 2015
Presentations included in the Statistical Section of the Comprehensive Annual Financial Report (CAFR)
provide users detailed information as a context for understanding what the information in the financial
statements, note disclosures and the supporting schedules say about the government’s overall financial
health. The section is divided into five categories based on the following:
FINANCIAL TRENDS
These schedules contain trend information to help the reader understand how the government’s financial
performance and well‐being have changed over time.
REVENUE CAPACITY
These schedules present information to help the reader assess the government’s most significant local
revenue source – property tax.
DEBT CAPACITY
These schedules present information to help the reader assess the affordability of the government’s current
levels of outstanding debt and the government’s ability to issue additional debt in the future.
DEMOGRAPHIC AND ECONOMIC INFORMATION
These schedules offer demographic and economic indicators to help the reader understand the environment
within which the government’s financial activities take place.
OPERATING INFORMATION
These schedules contain service and infrastructure data to help the reader understand how the information
in the government’s financial report relates to the services the government provides and the activities it
performs.
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To
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Re
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Statistical Section, 7 ‐2
20
1
5
Co
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An
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TA
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In
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2,932,298 1,247,934
To
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107,410,788 110,820,841
Bu
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Ai
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Go
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2,298,804 2,200,740
To
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To
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Go
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172,913,375 178,730,976
PR
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Go
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C h ar
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21
,
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4,336,464 4,354,150
Ju
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l
83
1
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3,059,061 3,476,485
Pu
b
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y
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7
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Ut
i
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e
s
40
0
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7
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Tr
a
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s
p
o
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t
a
t
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o
n
1,
6
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3,140,008 3,823,320
Ec
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3,791,108 5,641,135
He
a
l
t
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an
d
hu
m
a
n
se
r
v
i
c
e
s
‐
‐
‐
‐
‐
‐
‐
‐
‐
‐
Cu
l
t
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re
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r
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t
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1,
7
4
2
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2,676,783 2,331,046
Op
e
r
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g
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5
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5
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9
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7
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6,422,816 6,614,030
Ca
p
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t
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r
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,
5
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11,640,501 8,658,075
To
t
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l
go
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e
r
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m
e
n
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l
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t
i
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i
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pr
o
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r
a
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s
41
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8
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7
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9
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4
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42,307,271 42,576,260
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
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t
i
e
s
:
Ch
a
r
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e
s
fo
r
se
r
v
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:
Wa
t
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r
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k
s
ut
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l
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t
y
27
,
0
3
6
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3
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4
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,
0
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4
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Ai
r
p
o
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t
90
9
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4
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5
96
5
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8
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0
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9
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4
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3
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3
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4
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6
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5
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3
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4
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4
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4
3
6
2,652,808 2,614,311
So
l
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d
wa
s
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ut
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l
i
t
y
9,
8
3
7
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9
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5
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17,310,807 17,146,266
Go
l
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e
2,
2
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4
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5
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2
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3
2,127,512 2,302,635
To
t
a
l
Bu
s
i
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e
s
s
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p
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ch
a
r
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e
s
40
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0
5
6
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9
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4
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9
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6
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,
7
8
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0
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Op
e
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d
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r
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o
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s
77
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7
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4
,
7
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4
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,
2
6
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9
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5
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4
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1
6
4
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5
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1,108,920 704,367
Ca
p
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t
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a
n
t
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r
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t
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o
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6,
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1
7
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7
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8
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8
8
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12,531,671 23,291,274
To
t
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bu
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87,086,193 99,322,555
To
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pr
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m
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go
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88
,
2
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94
,
4
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8
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5
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3
$
97
,
0
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7
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9
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9
$
10
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91
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129,393,464 $ 141,898,815 $
Ne
t
(e
x
p
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n
s
e
)
/
r
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v
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n
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Go
v
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r
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m
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n
t
a
l
ac
t
i
v
i
t
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e
s
(
4
6
,
8
6
6
,
2
0
7
)
$
(5
4
,
9
0
1
,
8
5
7
)
$
(5
8
,
6
3
5
,
7
8
5
)
$
(6
2
,
0
6
9
,
9
1
0
)
$
(7
0
,
7
8
1
,
0
6
6
)
$
(6
5
,
2
0
8
,
4
0
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$
(4
7
,
4
4
4
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6
6
4
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$
(6
1
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1
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Bu
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s
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4
8
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5
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6
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9
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To
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go
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(4
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4
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6
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9
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(43,519,911)$ (36,832,161)$
Fi
s
c
a
l
Ye
a
r
Statistical Section, 7 ‐3
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
2
CH
A
N
G
E
S
IN
NE
T
PO
S
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T
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LA
S
T
TE
N
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S
C
A
L
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R
S
(a
c
c
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u
a
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ba
s
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s
of
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n
t
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n
g
)
Pa
g
e
2 of
2
GE
N
E
R
A
L
RE
V
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N
U
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S
AN
D
OT
H
E
R
CH
A
N
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E
S
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
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1
5
Go
v
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r
n
m
e
n
t
a
l
ac
t
i
v
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t
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e
s
:
Ta
x
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s
Pr
o
p
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r
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y
ta
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e
s
23
,
6
0
0
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1
3
1
$
23
,
1
0
6
,
5
7
8
$
29
,
3
8
1
,
0
3
6
$
32
,
3
0
0
,
3
1
9
$
32
,
5
8
6
,
8
8
4
$
33
,
3
0
9
,
9
7
5
$
33
,
9
3
2
,
2
9
0
$
32
,
5
3
6
,
5
3
3
$
35,112,669 $ 35,418,323 $
Ti
m
b
e
r
ta
x
e
s
‐
$
‐
‐
‐
‐
Re
t
a
i
l
sa
l
e
s
ta
x
e
s
20
,
8
6
9
,
5
9
5
22
,
7
4
9
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8
3
1
23
,
1
9
0
,
0
7
6
22
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0
6
5
,
3
1
6
21
,
5
9
1
,
3
7
5
22
,
0
0
8
,
7
7
7
23
,
6
5
3
,
7
0
6
25
,
5
4
1
,
9
7
2
27,223,521 29,567,506
Bu
s
i
n
e
s
s
ta
x
e
s
11
,
2
1
9
,
3
0
3
11
,
9
6
2
,
8
7
9
14
,
9
4
5
,
1
7
3
14
,
8
7
6
,
4
9
6
16
,
8
8
3
,
8
8
8
16
,
8
7
0
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2
8
4
17
,
6
3
2
,
7
5
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16
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4
3
9
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5
0
2
18,575,350 20,561,270
Ex
c
i
s
e
ta
x
e
s
7,
7
1
8
,
9
4
5
8,
2
3
6
,
8
7
6
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3
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5
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9
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3
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7
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3
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1
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9
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4
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1
1
3
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7
0
5
4,
2
8
6
,
8
8
3
5,
8
3
8
,
1
4
9
4,595,540 5,736,582
Pe
n
a
l
t
i
e
s
an
d
in
t
e
r
e
s
t
3,
7
9
9
33
,
9
4
9
6,
4
7
7
1,
3
5
3
27
6
38
0
9,
4
8
6
‐
‐
‐
In
v
e
s
t
m
e
n
t
ea
r
n
i
n
g
s
3,
2
5
1
,
9
7
5
3,
4
6
5
,
5
1
7
2,
4
1
9
,
2
6
0
1,
1
1
8
,
8
8
9
79
4
,
7
9
3
60
2
,
5
1
6
58
9
,
6
1
6
61
3
,
0
9
7
1,137,752 1,303,414
Mi
s
c
e
l
l
a
n
e
o
u
s
68
9
,
2
4
3
1,
2
1
8
,
8
8
9
2,
1
0
4
,
1
3
3
17
2
,
5
9
4
82
,
3
5
2
99
1
,
7
7
2
1,
1
7
9
,
1
1
2
1,
2
3
2
,
0
6
6
760,292 580,042
Ga
i
n
(l
o
s
s
)
on
sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
1
‐
‐
‐
‐
‐
‐
‐
‐
(198,242) 17,109
Tr
a
n
s
f
e
r
s
(6
8
,
4
4
6
)
‐
11
0
,
0
0
0
(1
0
0
,
0
0
0
)
(1
7
,
0
9
5
)
37
,
4
5
4
23
3
,
9
6
1
2,
3
4
1
,
1
6
0
449,362 131,491
To
t
a
l
go
v
e
r
n
m
e
n
t
a
l
ac
t
i
v
i
t
i
e
s
6
7
,
2
8
4
,
5
4
5
70
,
7
7
4
,
5
1
9
76
,
5
1
9
,
1
0
0
75
,
3
5
8
,
9
4
5
76
,
2
7
4
,
3
8
7
77
,
9
3
4
,
8
6
3
81
,
5
1
7
,
8
1
3
84
,
5
4
2
,
4
7
9
87,656,244 93,315,737
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
:
In
v
e
s
t
m
e
n
t
ea
r
n
i
n
g
s
88
1
,
4
8
6
1,
0
4
1
,
5
7
6
1,
1
2
0
,
3
4
2
39
6
,
9
5
7
22
4
,
9
7
4
11
7
,
0
9
0
10
5
,
1
2
9
94
,
0
7
7
96,625 225,515
Mi
s
c
e
l
l
a
n
e
o
u
s
28
2
,
8
0
8
13
5
,
9
8
6
85
,
4
9
3
1,
2
0
7
,
6
8
9
17
2
,
6
6
3
71
,
2
3
5
44
,
8
4
2
12
4
,
2
8
1
30,863 38,014
Ga
i
n
(l
o
s
s
)
on
sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
1
‐
‐
‐
‐
‐
‐
‐
‐
93,773 (701,718)
Tr
a
n
s
f
e
r
s
68
,
4
4
6
‐
(1
1
0
,
0
0
0
)
10
0
,
0
0
0
17
,
0
9
5
(3
7
,
4
5
4
)
(2
3
3
,
9
6
1
)
(2
,
3
4
1
,
1
6
0
)
(449,362) (131,491)
To
t
a
l
bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
1
,
2
3
2
,
7
4
0
1,
1
7
7
,
5
6
2
1,
0
9
5
,
8
3
5
1,
7
0
4
,
6
4
6
41
4
,
7
3
2
15
0
,
8
7
1
(8
3
,
9
9
0
)
(2
,
1
2
2
,
8
0
2
)
(228,101) (569,680)
To
t
a
l
pr
i
m
a
r
y
go
v
e
r
n
m
e
n
t
68
,
5
1
7
,
2
8
5
$
71
,
9
5
2
,
0
8
1
$
77
,
6
1
4
,
9
3
5
$
77
,
0
6
3
,
5
9
1
$
76
,
6
8
9
,
1
1
9
$
78
,
0
8
5
,
7
3
4
$
81
,
4
3
3
,
8
2
3
$
82
,
4
1
9
,
6
7
7
$
87,428,143 $ 92,746,057 $
CH
A
N
G
E
S
IN
NE
T
PO
S
I
T
I
O
N
Go
v
e
r
n
m
e
n
t
a
l
ac
t
i
v
i
t
i
e
s
2
0
,
4
1
8
,
3
3
8
$
15
,
8
7
2
,
6
6
2
$
17
,
8
8
3
,
3
1
5
$
13
,
2
8
9
,
0
3
5
$
5,
4
9
3
,
3
2
1
$
12
,
7
2
6
,
4
5
7
$
34
,
0
7
3
,
1
4
9
$
23
,
3
8
0
,
4
6
5
$
22,552,727 $ 25,071,156 $
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
7
,
5
0
4
,
3
2
5
5,
6
4
8
,
7
1
4
4,
5
7
6
,
1
3
3
6,
2
7
8
,
6
2
1
97
0
,
8
5
9
9,
7
0
8
,
1
8
8
15
,
9
4
3
,
2
5
8
24
,
8
4
2
,
2
2
0
21,355,505 30,842,740
To
t
a
l
pr
i
m
a
r
y
go
v
e
r
n
m
e
n
t
27
,
9
2
2
,
6
6
3
$
21
,
5
2
1
,
3
7
6
$
22
,
4
5
9
,
4
4
8
$
19
,
5
6
7
,
6
5
6
$
6,
4
6
4
,
1
8
0
$
22
,
4
3
4
,
6
4
5
$
50
,
0
1
6
,
4
0
7
$
48
,
2
2
2
,
6
8
5
$
43,908,232 $ 55,913,896 $
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
1 Pr
i
o
r
to
20
1
4
Ga
i
n
(l
o
s
s
)
on
sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
we
r
e
pr
e
v
i
o
u
s
l
y
re
p
o
r
t
e
d
as
"M
i
s
c
e
l
l
a
n
e
o
u
s
"
.
Statistical Section, 7 ‐4
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
3
FU
N
D
BA
L
A
N
C
E
OF
GO
V
E
R
N
M
E
N
T
FU
N
D
S
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
(m
o
d
i
f
i
e
d
ac
c
r
u
a
l
ba
s
i
s
of
ac
c
o
u
n
t
i
n
g
)
20
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
Ge
n
e
r
a
l
fu
n
d
Re
s
e
r
v
e
d
8
,
0
0
0
$
8,
0
0
0
$
8,
0
0
0
$
8,
0
0
0
$
2,
4
6
8
,
5
6
9
$
‐
$
‐
$
‐
$
‐
$ ‐$
Un
r
e
s
e
r
v
e
d
1
0
,
7
3
7
,
0
9
7
16
,
4
7
4
,
3
8
4
13
,
5
0
9
,
0
9
7
13
,
4
7
8
,
7
2
7
12
,
0
2
0
,
4
2
0
‐
‐
‐
‐
‐
No
n
s
p
e
n
d
a
b
l
e
1
‐
‐
‐
‐
‐
1,
1
4
9
,
9
0
7
‐
‐
‐
‐
Re
s
t
r
i
c
t
e
d
1
‐
‐
‐
‐
‐
78
6
,
6
1
1
69
0
,
6
5
5
30
3
,
0
5
1
250,717
156,105
Co
m
m
i
t
t
e
d
1
‐
‐
‐
‐
‐
‐
‐
4,
2
3
6
,
3
6
2
‐
1,185,085
As
s
i
g
n
e
d
1
‐
‐
‐
‐
‐
13
,
8
1
2
,
2
5
8
16
,
5
6
6
,
6
5
9
15
,
9
2
9
,
7
1
2
286,516
260,342
Un
a
s
s
i
g
n
e
d
1
‐
‐
‐
‐
‐
‐
1,
4
2
7
,
1
3
0
‐
19,517,236
20,183,002
To
t
a
l
ge
n
e
r
a
l
fu
n
d
1
0
,
7
4
5
,
0
9
7
$
16
,
4
8
2
,
3
8
4
$
13
,
5
1
7
,
0
9
7
$
13
,
4
8
6
,
7
2
7
$
14
,
4
8
8
,
9
8
9
$
15
,
7
4
8
,
7
7
6
$
18
,
6
8
4
,
4
4
4
$
20
,
4
6
9
,
1
2
5
$
20,054,469 $ 21,784,534 $
Al
l
ot
h
e
r
go
v
e
r
n
m
e
n
t
a
l
fu
n
d
s
Re
s
e
r
v
e
d
6
3
,
9
0
0
$
97
5
,
0
0
0
$
1,
0
0
0
,
0
0
0
$
‐
$
6,
7
7
1
,
3
8
4
$
‐
$
‐
$
‐
$
‐
$ ‐$
Un
r
e
s
e
r
v
e
d
,
re
p
o
r
t
e
d
in
:
Sp
e
c
i
a
l
re
v
e
n
u
e
fu
n
d
s
4,
2
4
3
,
1
8
9
2,
6
1
6
,
5
9
6
2,
8
0
6
,
6
6
7
2,
1
0
6
,
3
7
0
2,
0
7
3
,
2
2
7
‐
‐
‐
‐
‐
De
b
t
se
r
v
i
c
e
fu
n
d
s
3,
0
6
8
,
5
8
7
1,
3
9
2
,
9
1
5
1,
2
7
0
,
9
3
6
36
7
,
6
5
2
‐
‐
‐
‐
‐
‐
Ca
p
i
t
a
l
pr
o
j
e
c
t
fu
n
d
s
42
,
1
5
2
,
4
3
7
29
,
0
5
7
,
3
9
7
29
,
2
1
7
,
3
8
4
18
,
4
0
8
,
8
0
2
8,
7
0
1
,
8
4
3
‐
‐
‐
‐
‐
No
n
s
p
e
n
d
a
b
l
e
1
‐
‐
‐
‐
‐
‐
‐
‐
‐
‐
Re
s
t
r
i
c
t
e
d
1
‐
‐
‐
‐
‐
19
,
1
5
2
,
9
1
3
23
,
7
3
0
,
6
8
8
22
,
8
8
8
,
8
7
7
18,722,577
7,841,326
Co
m
m
i
t
t
e
d
1
‐
‐
‐
‐
‐
7,
4
6
8
,
4
9
1
6,
0
8
5
,
8
1
2
8,
5
1
3
,
8
1
6
‐
15,844,472
As
s
i
g
n
e
d
1
‐
‐
‐
‐
‐
6,
8
2
8
,
4
1
0
1,
2
2
0
,
0
0
8
13
7
,
6
0
5
12,594,651
3,290,869
Sp
e
c
i
a
l
re
v
e
n
u
e
fu
n
d
s
‐
‐
‐
‐
‐
5,
5
9
8
,
3
7
6
‐
‐
‐
De
b
t
se
r
v
i
c
e
fu
n
d
s
‐
‐
‐
‐
‐
1,
2
3
0
,
0
3
4
‐
‐
‐
Ca
p
i
t
a
l
pr
o
j
e
c
t
fu
n
d
s
‐
‐
‐
‐
‐
‐
‐
‐
‐
‐
To
t
a
l
al
l
ot
h
e
r
go
v
e
r
n
m
e
n
t
a
l
fu
n
d
s
49
,
5
2
8
,
1
1
3
$
34
,
0
4
1
,
9
0
8
$
34
,
2
9
4
,
9
8
7
$
20
,
8
8
2
,
8
2
4
$
17
,
5
4
6
,
4
5
4
$
33
,
4
4
9
,
8
1
4
$
31
,
0
3
6
,
5
0
8
$
31
,
5
4
0
,
2
9
8
$
31,317,228 $ 26,976,667 $
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
1 In
20
1
1
,
im
p
l
e
m
e
n
t
a
t
i
o
n
of
GA
S
B
54
re
q
u
i
r
e
s
ne
w
de
s
i
g
n
a
t
i
o
n
s
of
fu
n
d
ba
l
a
n
c
e
;
pr
i
o
r
ye
a
r
da
t
a
no
t
av
a
i
l
a
b
l
e
in
pr
e
s
c
r
i
b
e
d
fo
r
m
a
t
$‐
$1
0
,
0
0
0
,
0
0
0
$2
0
,
0
0
0
,
0
0
0
$3
0
,
0
0
0
,
0
0
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$4
0
,
0
0
0
,
0
0
0
$5
0
,
0
0
0
,
0
0
0
$6
0
,
0
0
0
,
0
0
0
20
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
Ge
n
e
r
a
l
fu
n
d
Al
l
ot
h
e
r
go
v
e
r
n
m
e
n
t
a
l
fu
n
d
s
Statistical Section, 7 ‐5
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
4
CH
A
N
G
E
S
IN
FU
N
D
BA
L
A
N
C
E
S
OF
GO
V
E
R
N
M
E
N
T
FU
N
D
S
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
(m
o
d
i
f
i
e
d
ac
c
r
u
a
l
ba
s
i
s
of
ac
c
o
u
n
t
i
n
g
)
20
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
RE
V
E
N
U
E
S
Ta
x
e
s
6
4
,
0
0
5
,
5
6
7
$
66
,
6
9
8
,
8
7
6
$
72
,
5
1
4
,
3
8
8
$
71
,
5
4
5
,
7
0
0
$
75
,
2
2
3
,
7
5
0
$
76
,
2
6
6
,
6
8
8
$
79
,
8
7
8
,
4
6
7
$
80
,
3
0
0
,
7
5
2
$
85,244,091
$
91,417,887 $
Li
c
e
n
s
e
s
an
d
pe
r
m
i
t
s
4
,
9
6
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Tr
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To
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2
,
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6
2
$
2,
2
8
8
,
4
7
1
$
(637,726)
$
(1,513,745)$
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b
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se
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as
a pe
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t
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s
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u
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: Ci
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n
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e
Di
v
i
s
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n
Ta
b
l
e
s
pr
i
o
r
to
20
1
0
us
e
d
th
e
ti
t
l
e
s
"S
e
c
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i
t
y
of
pe
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s
o
n
s
an
d
pr
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p
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y
"
an
d
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e
n
t
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l
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d
ph
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l
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"
fo
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t
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n
s
no
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re
f
e
r
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d
to
as
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Sa
f
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y
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an
d
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s
"
,
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s
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l
y
.
Ta
b
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s
Pr
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o
r
to
20
1
3
us
e
d
th
e
title "Physical environment" for
fu
n
c
t
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o
n
s
no
w
be
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n
g
re
f
e
r
r
e
d
to
as
"U
t
i
l
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t
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e
s
"
.
Statistical Section, 7 ‐6
20
1
5
Co
m
p
r
e
h
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n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
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a
l
Re
p
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r
t
City of Renton, Washington
TA
B
L
E
5
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0
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p
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5
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6,339,653 $ 6,526,128 $
Mu
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Ir
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r
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To
t
a
l
Wa
t
e
r
Bi
l
l
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n
g
‐
9,
5
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To
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w
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pr
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2 In
c
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a si
n
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l
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me
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r
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d
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e
c
t
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o
n
.
Statistical Section, 7 ‐7
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
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a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
6
PR
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N
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R
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e
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R
20
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% of
To
t
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l
%
of Total
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u
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e
: Ci
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of
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Statistical Section, 7 ‐8
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
6
PR
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N
C
I
P
A
L
RA
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P
A
Y
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R
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e
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3
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R
F
A
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E
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R
20
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5
2
0
0
6
% of
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t
a
l
%
of Total
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p
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e
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k
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e
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e
Ci
t
y
of
Re
n
t
o
n
1
,
0
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6
,
9
0
4
$
1
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1
.
1
1
%
1
4
9
,
2
5
7
$
1
7
.
5
5
%
Bo
e
i
n
g
Co
m
m
e
r
c
i
a
l
3
5
0
,
8
8
1
2
3
.
6
9
%
9
5
,
8
0
6
2
4
.
8
5
%
Re
n
t
o
n
Sc
h
o
o
l
Di
s
t
r
i
c
t
2
3
8
,
3
6
9
3
2
.
5
1
%
3
6
,
8
7
4
4
1
.
8
7
%
Ki
n
g
Co
u
n
t
y
2
0
5
,
4
2
5
4
2
.
1
6
%
5
6
,
1
6
8
3
2
.
8
4
%
WA
St
a
t
e
De
p
t
of
Tr
a
n
s
p
o
r
t
a
t
i
o
n
8
2
,
1
2
7
5
0
.
8
6
%
2
1
,
6
1
0
5
1
.
0
9
%
Ke
n
w
o
r
t
h
Tr
u
c
k
Co
m
p
a
n
y
7
4
,
8
7
8
6
0
.
7
9
%
2
1
,
0
0
8
6
1
.
0
6
%
Le
i
s
u
r
e
Es
t
a
t
e
s
Of
f
i
c
e
5
8
,
4
8
3
7
0
.
6
2
%
1
5
,
9
9
4
8
0
.
8
1
%
St
o
n
e
w
a
y
Ro
c
k
an
d
Re
c
y
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l
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n
g
5
7
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9
4
3
8
0
.
6
1
%
1
6
,
9
0
4
7
0
.
8
6
%
CP
T
Th
e
La
n
d
i
n
g
LL
C
5
6
,
1
5
7
9
0
.
5
9
%
Th
e
Kr
o
g
e
r
Co
4
6
,
4
0
9
10
0
.
4
9
%
Sh
a
d
o
w
h
a
w
k
1
13
,
0
0
1
9
0
.
6
6
%
Va
l
l
e
y
Me
d
i
c
a
l
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n
t
e
r
12
,
5
8
3
10
0
.
6
4
%
Al
l
Ot
h
e
r
3,
8
5
0
,
5
9
8
40
.
4
9
%
9
3
4
,
8
0
3
47.29%
Si
n
g
l
e
Fa
m
i
l
y
3,
4
3
2
,
7
2
5
36
.
0
9
%
6
0
2
,
7
2
6
30.49%
To
t
a
l
Re
v
e
n
u
e
9
,
5
1
0
,
8
9
9
$
10
0
.
0
0
%
1
,
9
7
6
,
7
3
6
$
100.00%
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
Statistical Section, 7 ‐9
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
6
PR
I
N
C
I
P
A
L
RA
T
E
P
A
Y
E
R
S
Pa
g
e
3 of
3
WA
S
T
E
W
A
T
E
R
20
1
5
2
0
0
6
% of
To
t
a
l
%
of Total
Ra
t
e
p
a
y
e
r
R
e
v
e
n
u
e
R
a
n
k
R
e
v
e
n
u
e
R
e
v
e
n
u
e
R
a
n
k
R
e
v
e
n
u
e
Bo
e
i
n
g
Co
m
m
e
r
c
i
a
l
2
2
5
,
8
3
9
$
1
2
.
4
1
%
6
8
,
9
5
8
$
1
2
.
2
5
%
G an
d
K Se
r
v
i
c
e
s
1
0
3
,
7
2
8
2
1
.
1
1
%
Pu
b
l
i
c
Ho
s
p
Di
s
t
#1
of
KC
1
0
3
,
7
1
0
3
1
.
1
0
%
5
6
,
5
2
4
2
1
.
8
4
%
HS
C
Re
a
l
Es
t
a
t
e
(A
x
i
s
Gr
a
n
d
)
7
4
,
6
8
2
4
0
.
8
0
%
2
1
,
2
3
7
9
0
.
6
9
%
Ro
y
a
l
Hi
l
l
s
Pr
e
s
e
r
v
a
t
i
o
n
LP
6
5
,
8
7
7
5
0
.
7
0
%
2
1
,
3
4
8
8
0
.
7
0
%
Co
p
p
e
r
Ri
d
g
e
Re
n
t
o
n
LL
C
6
5
,
3
8
2
6
0
.
7
0
%
Ci
t
y
of
Re
n
t
o
n
6
2
,
7
6
2
7
0
.
6
7
%
4
2
,
1
0
6
3
1
.
3
7
%
Ma
p
l
e
w
o
o
d
LL
C
6
0
,
0
7
4
8
0
.
6
4
%
2
7
,
4
6
1
5
0
.
9
0
%
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b
o
r
s
at
Su
n
s
e
t
LL
C
5
9
,
6
3
2
9
0
.
6
4
%
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n
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e
t
Vi
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w
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s
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5
1
,
7
7
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10
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5
5
%
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r
v
i
c
e
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n
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n
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p
p
l
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In
c
41
,
9
6
7
4
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.
3
7
%
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g
i
s
IX
RE
O
LL
C
24
,
9
8
6
6
0
.
8
2
%
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e
Ar
b
o
r
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at
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22
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4
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7
3
%
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a
p
e
r
Va
l
l
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y
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r
m
s
20
,
7
8
0
10
0
.
6
8
%
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l
Ot
h
e
r
3,
4
5
5
,
6
7
1
36
.
8
0
%
1
,
2
8
4
,
6
2
9
41.90%
Si
n
g
l
e
Fa
m
i
l
y
5,
0
6
1
,
8
6
8
53
.
9
0
%
1
,
4
3
3
,
4
6
0
46.76%
To
t
a
l
Re
v
e
n
u
e
9
,
3
9
0
,
9
9
4
$
10
0
.
0
0
%
3
,
0
6
5
,
6
8
8
$
100.00%
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
Statistical Section, 7 ‐10
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
E
S
LA
S
T
10
FI
S
C
A
L
YE
A
R
S
1
Pa
g
e
1 of
3
20
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
Wa
t
e
r
Ra
t
e
s
Mo
n
t
h
l
y
Ra
t
e
s
Ba
s
i
c
Ch
a
r
g
e
3/
4
"
1
1
.
3
6
1
1
.
9
3
1
0
.
1
0
1
0
.
6
0
1
1
.
6
6
1
3
.
7
6
1
5
.
9
6
1
6
.
7
6
1
7
.
6
0
1
7
.
6
0
1"
1
4
.
2
3
1
4
.
9
4
2
0
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9
1
2
1
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5
2
4
.
1
5
2
8
.
5
0
3
3
.
0
6
3
4
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7
1
3
4
.
8
9
3
4
.
8
9
1 1/
2
"
1
8
.
2
3
1
9
.
1
4
3
8
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6
3
4
0
.
5
6
4
4
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6
2
5
2
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5
6
1
.
0
7
6
4
.
1
2
6
7
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3
3
6
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3
3
2"
3
1
.
8
7
3
3
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4
6
6
0
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5
4
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3
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5
6
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7
1
1
0
0
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5
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5
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2
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9
4
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3
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5
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1
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6
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6
5
2
0
6
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4
8
2
1
6
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8
1
2
1
6
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8
1
4"
1
3
6
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4
0
1
4
3
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2
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1
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8
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3
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7
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1
5
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7
5
3
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5
6"
2
0
4
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4
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0
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7
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5
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5
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2
4
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1
4
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5
0
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4
5
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2
8
8"
2
8
4
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2
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6
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9
2
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2
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12
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5
6
8
.
4
4
5
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6
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6
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1
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5
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a
r
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e
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r
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r
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g
a
t
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o
n
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8
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4
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2
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1
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3
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1
3
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5
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6
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6
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t
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fo
r
pr
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r
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r
s
pr
o
v
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d
e
d
wh
e
r
e
av
a
i
l
a
b
l
e
.
Statistical Section, 7 ‐11
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
E
S
LA
S
T
10
FI
S
C
A
L
YE
A
R
S
1
Pa
g
e
2 of
3
20
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s
pr
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v
i
d
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d
wh
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r
e
av
a
i
l
a
b
l
e
.
Statistical Section, 7 ‐12
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
E
S
LA
S
T
10
FI
S
C
A
L
YE
A
R
S
1
Pa
g
e
3 of
3
20
0
6
2
0
0
7
2
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0
8
2
0
0
9
2
0
1
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2
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1
1
2
0
1
2
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3
2
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4
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5
Su
r
f
a
c
e
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Ra
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e
s
Mo
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t
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Si
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l
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<=
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pr
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d
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d
wh
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e
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a
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l
a
b
l
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.
Statistical Section, 7 ‐13
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
8
GE
N
E
R
A
L
GO
V
E
R
N
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N
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TE
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(a
c
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)
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TAX
20
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7,
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63
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So
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r
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: Ci
t
y
of
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n
t
o
n
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n
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n
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e
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v
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0
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x
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l
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Statistical Section, 7 ‐14
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
9
PR
I
N
C
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P
A
L
PR
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P
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T
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TA
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R
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20
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5
2
0
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6
% OF
TO
T
A
L
%
OF TOTAL
TA
X
A
B
L
E
1
TA
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A
B
L
E
T
A
X
A
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Statistical Section, 7 ‐15
20
1
5
Co
m
p
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h
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n
s
i
v
e
An
n
u
a
l
Fi
n
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Re
p
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r
t
City of Renton, Washington
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DIRECT TAX RATE 3
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s
s
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r
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c
t
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Statistical Section, 7 ‐16
20
1
5
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
11
PR
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T
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TA
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TOTAL SCHOOL MILLAGE TOTAL OVERLAPPING MILLAGETOTAL DIRECT AND OVERLAPPING MILLAGE
20
0
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3
.
0
4
4
8
2
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0
7
0
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1
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3.95970 8.82938 11.94508
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3.44659 8.05581 10.93981
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6
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4
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3
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2
‐
2.62654 7.15370 9.77752
20
0
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2
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3
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3
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9
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3.44056 7.58482 9.95405
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3.74381 8.40882 11.12066
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4.06901 9.38162 12.21369
20
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4.63931 10.12755 13.22755
20
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5.35763 11.20188 14.30188
20
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5.40495 11.16070 14.31228
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4.59301 9.85575 12.68858
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p
p
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Statistical Section, 7 ‐17
20
1
5
Co
m
p
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h
e
n
s
i
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e
An
n
u
a
l
Fi
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a
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Re
p
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City of Renton, Washington
TA
B
L
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12
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%
OF
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%
OF
LEVY
20
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22
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33
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20
1
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%
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20
1
4
3
5
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5
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35
,
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4
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98
.
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%
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35
,
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98.7%
20
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1
36
,
0
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,
8
9
2
98
.
8
%
N
/
A
3
6
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6
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98.8%
So
u
r
c
e
s
:
1 An
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u
a
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Ta
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v
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b
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Su
m
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Ki
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Co
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2 In
c
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s
Co
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d
Statistical Section, 7 ‐18
20
1
5
Co
m
p
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h
e
n
s
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e
An
n
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Fi
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Re
p
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t
City of Renton, Washington
TA
B
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13
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Miscellaneous Statistical Section, 7 ‐19
2015 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 14
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
GOVERNMENTAL ACTIVITIES BUSINESS‐TYPE ACTIVITIES
FISCAL
YEAR
GENERAL
OBLIGATION
BONDS
SPECIAL
ASSESSMENT
BONDS
OTHER
GENERAL
OBLIGATION2
REVENUE
BONDS
OTHER LONG
TERM DEBT
TOTAL PRIMARY
GOVERNMENT
DEBT
PERCENTAGE
OF PERSONAL
INCOME1
DEBT PER
CAPITA
% of Actual
Taxable Value
of Property
2006 45,584,314$ ‐$ ‐$ 33,840,000$ 10,716,520$ 90,140,834$ 8.59% 1,495$ 1.23%
2007 44,017,551 ‐ ‐ 33,405,000 9,878,951 87,301,502 8.17% 1,108 1.04%
2008 41,938,000 ‐ ‐ 43,310,000 8,968,894 94,216,894 8.57% 1,126 0.98%
2009 39,039,834 ‐ 38,973,547 41,110,000 8,284,962 127,408,343 12.36% 1,401 0.96%
2010 36,990,612 ‐ 38,511,875 36,955,000 7,357,546 119,815,033 11.26% 1,294 1.01%
2011 52,993,407 ‐ 38,053,639 34,926,581 6,443,218 132,416,845 11.62% 1,410 1.15%
2012 46,743,675 ‐ 36,891,722 32,492,802 5,538,929 121,667,128 10.09% 1,273 1.12%
2013 46,103,944 ‐ 35,692,283 31,208,819 4,660,282 117,665,328 9.17% 1,232 1.11%
2014 41,882,832 ‐ 34,470,753 28,677,301 3,951,670 108,982,556 7.61% 1,122 0.96%
2015 37,399,331 ‐ 33,203,128 27,175,783 3,248,163 101,026,405 N/A 1,026 0.78%
Source : City of Renton Finance Division
1 The percentage of Personal Income column is based on personal income of King County. (See Table 19). Renton data is not available.
2 Other GO debt includes debt issued by related entities that are backed by the City's full faith and credit as well as intergovernmental loans.
$‐
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$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
General Obligation (Governmental)Other Long Term (Governmental)Revenue (Business‐Type)Other Long Term (Business‐Type)
Statistical Section, 7‐20
20
1
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and parks facilities.Statistical Section, 7 ‐21
2015 Comprehensive Annual Financial Report City of Renton, Washington
NET % OF GO BOND2
GENERAL 1 LESS: GENERAL DEBT TO
FISCAL OBLIGATION AMOUNTS1 OBLIGATION ASSESSED2 ASSESSED PER3
YEAR DEBT AVAILABLE DEBT VALUE VALUE CAPITA
2006 45,584,314$ 3,068,586$ 42,515,728$ 7,334,476,542$ 0.58%729$
2007 44,017,551 1,392,915 42,624,636 8,370,801,505 0.51% 707
2008 41,938,000 1,270,936 40,667,064 9,659,677,654 0.42% 516
2009 78,013,381 367,652 77,645,729 13,233,244,780 0.59% 928
2010 75,502,487 1,009,555 74,492,932 11,884,728,440 0.63% 819
2011 91,047,046 1,032,360 90,014,686 11,480,466,361 0.78% 972
2012 83,635,397 1,160,000 82,475,397 10,815,458,517 0.76% 878
2013 81,796,227 1,279,231 80,516,996 10,588,721,199 0.76% 843
2014 76,353,585 1,639,891 74,713,694 11,332,326,913 0.66% 769
2015 70,602,459 2,368,177 68,234,282 12,936,757,619 0.53% 693
Source:
1 City of Renton Finance Division
2 King County Department of Assessments
3 Population Data can be found in Table 19
TABLE 16
PER CAPITA GENERAL OBLIGATION DEBT
LAST TEN FISCAL YEARS
$‐
$200
$400
$600
$800
$1,000
$1,200
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Statistical Section, 7‐22
2015 Comprehensive Annual Financial Report City of Renton, Washington
Utilities
GOVERNMENTAL UNIT
Debt
Outstanding1
Estimated Percent
Applicable2
Estimated Share of
overlapping debt
City of Renton Direct Debt 70,602,459$ 100% 70,602,459$
City of Renton Overlapping Debt 4
King County 3 816,188,684$ 3.33% 27,179,083$
Port of Seattle 305,535,000 3.33% 10,174,316
Renton School District #403 264,746,317 69.63% 184,342,861
Issaquah School District #411 385,312,950 2.84% 10,942,888
Kent School District #415 138,296,723 0.75% 1,035,566
Fire District 10‐1 4,440,211 0.09% 4,187
Fire District 40‐1 4,587,066 42.00% 1,926,476
King County Library 108,262,805 1.03% 1,115,107
City of Renton Overlapping Debt 236,720,483$
Total Direct and Overlapping Debt 307,322,942$
Sources:
2 King County Department of Assessments
TABLE 17
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
1 King County Department of Executive Services
⁴ Overlapping percentages are determined by checking within the levy codes of the reporting district to see which taxing districts overlap
with that reporting district. For example, within levy code 2100, the Renton School District and the King County Library district overlap with
the city and both have debt. Since they both have debt and they overlap with the City, those two districts are reported and the value within
that levy code is reported as overlapping with the school and library districts.
3 King County's gross outstanding debt excludes available cash in debt service funds, proprietary‐type debt, debt financed from component
unit, credit enhanced program, and hotel/motel tax debt.
Renton
23%
King County
9%
Schools
64%
Port of Seattle
3%
Others
1%
Statistical Section, 7‐23
2015 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 18
PLEDGED‐REVENUE COVERAGE
LAST TEN FISCAL YEARS
Ratio
Fiscal
Year Revenue2
Expenses without
Taxes/
Depreciation
Net Revenue
Available for
Debt Service Principal Interest Coverage1
2006 26,395,092$ 18,288,618$ 8,106,474$ 1,680,000$ 1,430,199$ 2.61
2007 31,497,106 19,983,136 11,513,970 1,740,000 1,373,036 3.70
2008 30,186,705 21,195,370 8,991,335 1,810,000 1,803,687 2.49
2009 32,853,359 24,341,586 8,511,773 1,890,000 1,758,589 2.33
2010 33,885,499 25,546,607 8,338,892 1,955,000 1,689,455 2.29
2011 40,538,269 25,424,551 15,113,718 2,030,000 1,716,503 4.03
2012 44,534,579 27,225,957 17,308,622 2,115,000 1,529,260 4.75
2013 45,849,249 27,538,433 18,310,816 1,650,000 1,262,177 6.29
2014 48,247,542 29,685,885 18,561,657 2,545,000 1,212,328 4.94
2015 50,143,096 30,737,021 19,406,075 1,515,000 1,101,575 7.42
Source: City of Renton Finance Division
2 Revenue includes interest revenue, and excludes interfund taxes.
1 Bond financing requirements are that the average annual coverage is at least 1.25 times the annual debt service for Water and Sewer revenue
bonds.
WATER AND SEWER REVENUE BONDS:
Revenue Debt Service
2.61
3.70
2.49 2.33 2.29
4.03
4.75
6.29 4.94 7.42
$‐
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Water and Sewer Net Revenue available for debt service Debt Service Coverage
Statistical Section, 7‐24
2015 Comprehensive Annual Financial Report City of Renton, Washington
PER CAPITA
PERSONAL PERSONAL SCHOOL
POPULATION 1 INCOME 2 INCOME 3 ENROLLMENT 5 RATE 6
FISCAL MEDIAN RENTON SCHOOL
YEAR KING COUNTY RENTON KING COUNTY KING COUNTY AGE 4 DISTRICT KING COUNTY RENTON
2006 1,822,967 58,360 99,609,451,000$ 54,641$ 36.93 13,397 3.7% 3.8%
2007 1,847,986 60,290 106,693,888,000 57,735 36.97 13,570 3.2% 3.3%
2008 1,875,020 78,780 109,927,858,000 58,628 37.00 13,836 3.9% 4.1%
2009 1,912,012 83,650 103,120,593,000 53,933 37.08 13,977 8.0% 8.6%
2010 1,937,809 90,927 106,401,739,000 54,908 37.24 13,600 9.1% 7.7%
2011 1,971,602 92,590 113,922,436,000 57,782 37.40 14,440 8.0% 6.8%
2012 2,007,440 93,910 120,627,950,000 60,090 37.72 14,590 6.4% 6.0%
2013 1,981,900 95,540 128,330,859,000 62,770 37.70 14,783 5.0% 4.7%
2014 2,017,250 97,130 143,260,986,000 68,877 37.74 15,080 4.6% 4.2%
2015 2,052,800 98,470 * * 37.26 15,241 4.6% 4.3%
Sources:
1 Washington State Office of Financial Management ‐ prior year data updated to reflect actuals where adjusted
2 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
3 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
4 Washington State Office of Financial Management
5 Enrollment is based on entire Renton School District, which includes schools located outside city boundaries but excludes schools of Kent
and Issaquah school districts located within Renton city limits.
6 US Bureau of Labor Statistics; annual rates, not seasonally adjusted, 2010‐2014 are provisional and subject to change
* Data not available at time of publication
TABLE 19
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
UNEMPLOYMENT
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
King County Unemployment Rate City of Renton Unemployment Rate
Statistical Section, 7‐25
2015 Comprehensive Annual Financial Report City of Renton, Washington
2015 2006
EMPLOYER EMPLOYEES RANK CITY EMPLOYEES RANK CITY
Boeing Company 15,749 1 30.95% 11,942 1 29.38%
Valley Medical Center 2,462 2 4.84 2,346 2 5.77
Renton School District No. 403 1,490 3 2.93 1,353 4 3.33
DOT ‐ Federal Aviation Administration 1,450 4 2.85 860 5 2.12
PACCAR 1,297 5 2.55 1,749 3 4.30
Providence Wa Regional Svcs 1,287 6 2.53 ‐‐‐ ‐‐‐ ‐‐‐
City Of Renton 701 7 1.38 620 6 1.53
King County 611 8 1.20
Kroger 475 9 0.93 ‐‐‐ ‐‐‐ ‐‐‐
Renton Technical College 377 10 0.74 ‐‐‐ ‐‐‐ ‐‐‐
ER Solutions ‐‐‐ ‐‐‐ ‐‐‐428 7 1.05
Young's ‐ Columbia of Washington, LLC ‐‐‐ ‐‐‐ ‐‐‐402 8 0.99
Walmart ‐‐‐ ‐‐‐ ‐‐‐378 9 0.93
IKEA ‐‐‐ ‐‐‐ ‐‐‐361 10 0.89
Total Principal Employers 25,899 50.89%20,439 50.28%
Total All Other Employers 24,991 49.11%20,211 49.72%
Total Employees working within Renton 50,890 100.00%40,650 100.00%
Source: City of Renton Business license records and individual inquiries
TABLE 20
PRINCIPAL EMPLOYERS
Statistical Section, 7‐26
2015 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 21
FULL TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
2006 2007 20081 20092 20103 2011 20124 2013 2014 2015
FUNCTION
General Government 89.5 95.0 155.6 163.8 143.3 143.5 147.3 135.4 139.4 143.4
Public Safety
Police
Commissioned Officers 97.0 122.0 124.0 121.0 123.0 123.0 123.0 121.5 119.0 121.0
Non‐Commissioned Officers 42.2 49.2 51.2 46.4 44.4 28.4 28.4 28.4 29.4 29.4
Fire
Commissioned Officers 106.0 109.0 118.0 137.0 136.0 145.0 145.0 140.0 145.0 145.0
Non‐Commissioned Officers 14.0 16.0 17.0 18.0 16.0 16.0 16.0 16.0 16.0 16.0
Public Works
Administration 46.5 49.0 4.0 3.5 3.0 3.0 3.0 3.0 3.0 2.0
Transportation Systems 35.5 40.5 41.0 37.0 33.0 33.0 33.0 31.0 31.0 31.0
Utility Systems 24.8 29.3 36.7 37.7 29.5 29.5 25.5 23.5 23.5 25.5
Maintenance Services 64.1 71.0 88.0 83.0 78.0 78.0 80.0 80.0 82.0 82.0
Culture and Recreation
Parks/Recreation/Facilities/Human Svs 76.5 81.0 89.5 86.3 81.8 82.8 83.6 80.0 80.0 80.0
Library 13.0 14.0 14.0 15.0 0.0 0.0 0.0 0.0 0.0 0.0
Museum 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Golf Course 10.0 10.0 10.0 9.5 9.5 9.5 9.5 9.5 9.5 9.5
Total 620.0 687.0 750.0 759.2 698.5 692.7 695.2 669.3 678.8 685.8
Source: City of Renton Finance Division
1 In 2008, Development Services moved from Public Works to Community and Economic Develoment which is listed under General Government.
2 In 2009, increase in Administrative, Judicial & Legal Services includes moving Legal Services in‐house and creation of a Communications Division which was
a reorganization of staffing from the Finance and Information Services Department and the Mayors Office
3 Operations of the Renton libraries transferred to King County Library System (KCLS) in 2010 as a result of voter‐approved annexation
4 Farmers's Market Program was moved from Community and Economic Department to Community Services Department in 2012.
Statistical Section, 7‐27
2015 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 22
OPERATING INDICATORS BY FUNCTION
LAST TEN FISCAL YEARS
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
FUNCTION
Public Safety
Police
Physical arrests 2,489 2,925 3,580 3,748 3,464 2,810 1,968 1,725 1,515 1,653
Parking violations 3,520 5,995 5,117 6,795 4,748 4,757 4,855 4,799 4,049 4,464
Traffic violations 10,172 9,148 10,705 14,220 13,829 8,805 7,943 8,388 5,925 4,828
Photo Enorcement Violations 1 ‐‐‐ ‐‐‐13,342 27,509 21,157 21,301 22,036 15,733 21,015 25,562
Infractions non traffic 192 330 268 314 240 446 16 210 149 125
Criminal non trafic 1,253 1,503 1,332 1,739 1,623 1,687 1,279 1,346 1,522 1,466
Fire
Number of calls answered 10,096 10,159 12,402 12,840 13,045 12,752 13,667 13,848 14,337 14,945
Inspections 3,505 3,197 2,772 2,968 2,620 2,300 1,807 689 997 2,517
Transportation
Street resurfacing (miles) 3.86 1.59 2.59 3.08 2.65 2.07 2.19 0.84 2.82 1.67
Aircraft Operations 82,979 94,415 100,928 83,269 80,679 80,005 93,406 93,911 100,544 112,335
Physical/Economic Environment
Building Permits Received 3,947 4,281 3,856 3,450 3,646 3,642 3,912 4,237 4,287 4,898
Building Permits Issued 3,899 4,103 3,749 3,336 3,562 3,555 3,765 4,038 4,204 4,691
Public Works Permits Received 1,741 1,954 1,547 1,254 1,182 1,334 1,337 1,488 1,526 1,472
Public Works Permits Issued 1,682 1,794 1,457 1,205 1,162 1,245 1,328 1,411 1,493 1,359
Solid Waste Utility
Recyclables collected (tons/yr) 4,843 5,004 5,395 9,653 9,836 12,565 13,509 13,616 13,993 15,218
Culture and Recreation
Athletic field attendance 155,000 91,053 93,000 93,000 93,000 93,000 94,000 94,000 94,000 93,000
Community Center admissions 177,761 162,476 155,000 150,000 150,000 150,000 155,000 155,000 172,302 170,000
Rounds of Golf 2 ‐‐‐62,190 61,100 60,300 55,450 54,350 58,680 56,180 55,600 56,775
Waterworks Utility
Metered connection 16,668 16,958 17,172 17,295 17,368 17,370 17,422 17,929 17,971 17,864
Average daily consumption 7,999 8,008 7,388 7,585 6,750 6,650 6,483 6,553 6,775 7,199
(thousands of gallons)
Peak daily consumption 15,271 14,750 12,739 14,814 12,826 12,476 11,445 12,361 12,411 13,590
(thousands of gallons)
Source: City of Renton
1 Photo Enforcement began in 2008.
2 Data for prior years not available.
Statistical Section, 7‐28
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.
Statistical Section, 7 ‐29
2015 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 24
CAPITAL ASSETS STATISTICS BY FUNCTION
LAST TEN FISCAL YEARS
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
FUNCTION
Public safety
Police Stations 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Police Patrol Districts 7.0 7.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
Fire stations 5.0 5.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0
Transportation
Street (miles) 224.6 233.7 263.8 263.8 264.5 266.1 266.1 266.1 294.0 304.1
Streetlights 3,283 3,496 3,726 3,864 3,935 4,015 4,172 4,182 4,302 4,342
Culture and recreation
Parks acreage 1,160.0 1,160.0 1,181.0 1,183.0 1,183.0 1205.81 1,210.0 1,211.0 1,213.5 1,222.0
Parks 26.0 28.0 29.0 30.0 30.0 32.02 32.0 32.0 32.0 32.0
Swimming pools 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Tennis courts 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0
Community centers 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Waterworks Utility
Water mains (miles) 295.0 300.0 304.0 305.0 305.0 305.0 306.0 308.0 304.6 307.5
Fire hydrants 3,440 3,544 3,602 3,624 3,651 3,639 3,655 3,670 3,697 3,740
Sanitary sewers (miles) 204.9 206.3 215.7 216.4 217.7 219.3 219.9 223.4 225.9 231.2
Storm sewers (miles) 219.7 222.3 267.5 273.8 274.9 276.1 278.5 282.0 267.7 265.6
1Includes Natural Area acreage, and developed/undeveloped park acreage for Neighborhood Parks, Community Parks,
Regional Parks, Special Use Parks and Corridors
2Developed Neighborhood, Community, Regional and Special Use Parks only. Two new parks were part of Benson Hill
Annexation not previously accounted for – Parkwood South Div #3 and SE 186th Place Properties.
Source: City of Renton Departments
Statistical Section, 7‐30