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HomeMy WebLinkAbout201905, May h:\finance\financial reporting\monthly reports\2019 reports\cover 0519.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: September 24, 2019    TO: Don Persson, Council President  Members of Renton City Council     CC: Denis Law, Mayor  Bob Harrison, Chief Administrative Officer     FROM: Jan Hawn, ASD Administrator     STAFF CONTACT: Hai Nguyen, Sr. Finance Analyst     SUBJECT: May 2019 Financial Status Report       At the end of May, general governmental revenues show $5.7M or 12.3% over budget.   Revenue source(s) that are higher than expected are: property tax ($157K); sales tax  ($216K); state shared revenues ($236K); gambling taxes ($313K); business & occupation  taxes ($2.7M); interest & other earnings ($289K); fines and penalties ($586K); real estate  excise tax ($1.5M); business licensing ($416K); and other miscellaneous ($205K).  On the  down side, the revenue source(s) that are underperforming the year to date budget are:  utility taxes ($246K); building permits/development service fees ($399K); and interfund  services ($251K).    General government expenditures showed a favorable variance of $1.4M or 3.4%.  See  page 11 of report for further expenditure over‐spent/savings explanations.    The attached report provides more detailed discussion of each revenue source and our  updated projections for the year.  Please do not hesitate to contact me at x6952 should  you have any questions or any suggestions about the report.        Don Persson, Council President  Members of Renton City Council  Page 2 of 2  September 24, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 0519.docx  This page is intentionally left blank      General Governmental Funds $% Beginning Fund Balance 26,563,785$     26,563,785$    33,284,838$       33,284,838$      42,803,217$    42,803,217$ 46,198,341$   3,395,124        7.9% OPERATING REVENUES Property Tax 24,356,562        12,678,534       19,463,461          10,087,649         20,885,254       10,850,691    11,008,022      157,331            1.4% Sales  Tax 26,331,634        10,765,139       28,428,635          11,672,299         27,684,069       11,277,444    11,493,492      216,049            1.9% Sales  Tax ‐ Annexation Credit/LRF 3,123,230           1,275,481          1,619,553             1,382,487            ‐                           ‐                        ‐                         ‐                        0.0% Criminal Justice Sales  Tax 2,808,564           1,134,254          3,091,020             1,225,590            2,886,744          1,154,703       1,297,009         142,306            12.3% Natural Gas  Use Tax 180,456                93,242                  141,408                  79,362                   180,000               101,021            125,920             24,899               24.6% Admission Tax 223,157                123,373               225,466                  114,654                250,000               132,643            88,107                (44,536)              ‐33.6% Franchise  Fees 1,562,100           773,584               1,508,915             781,892                1,526,500          773,176            746,746             (26,430)              ‐3.4% Electricity Tax 5,721,366           2,609,011          5,592,795             2,705,413            5,559,113          2,611,195       2,461,052         (150,143)           ‐5.7% Natural Gas  Utility Tax 1,630,375           1,011,722          1,446,693             909,213                1,400,000          873,984            812,227             (61,757)              ‐7.1% Garbage/Solid Waste 627,254                230,528               743,003                  294,052                680,000               260,327            324,800             64,474               24.8% TV Cable 1,651,405           661,829               1,525,625             620,278                1,678,736          677,463            586,882             (90,581)              ‐13.4% Telephone 866,519                404,260               830,975                  350,776                692,674               308,097            424,536             116,438            37.8% Cellular Phone 1,481,298           641,414               1,159,489             543,162                1,551,630          696,014            279,936             (416,078)           ‐59.8% City Utilities 4,840,530           1,866,739          4,925,046             1,968,585            4,500,000          1,767,326       2,033,762         266,436            15.1% Utility Tax Audit ‐                            ‐                           ‐                              ‐                            ‐                           ‐                        ‐                         ‐                        0.0% Leasehold Excise  Tax 173,396                42,568                  189,427                  43,340                   179,000               42,383               41,693                (689)                     ‐1.6% Gambling Excise  Tax 2,695,368           1,070,091          2,831,045             1,209,832            2,000,000          825,101            1,137,890         312,789            37.9% Real Estate Excise  Tax 3,595,952           2,845,952          5,905,674             2,510,550            4,000,000          675,855            2,126,379         1,450,523        214.6% Less: CIP REET (2,845,952)          (2,845,952)         (2,510,550)            (2,510,550)          (1,373,000)         (675,855)          (739,889)            (64,034)              9.5% EMS Levy ‐                            ‐                           ‐                              ‐                            ‐                           ‐                        ‐                         ‐                        0.0% B&O Taxes 9,633,034           6,183,312          10,689,216          8,006,272            8,000,000          5,444,028       7,198,261         1,754,233        32.2% Less: CIP B&O Taxes (2,473,974)          (2,473,974)         (1,379,314)            ‐                            (2,000,000)         (950,000)          ‐                         950,000            ‐100.0% Business License Fees 1,480,730           723,975               1,037,650             893,697                695,455               423,119            839,482             416,362            98.4% Less: CIP Business License Fees (614,796)              (333,537)             (356,629)                (342,957)               ‐                           ‐                        ‐                         ‐                        0.0% Animal  Licenses and Spec Events  Permits 140,391                45,949                  119,901                  55,794                   94,174                  41,648               57,814                16,166               38.8% Building Permits & Development Svc Fees 4,907,983           2,004,656          4,650,227             2,024,732            5,223,637          2,202,113       1,803,020         (399,093)           ‐18.1% Intergovt'l (Grants, State  Shared, etc) 4,285,806           1,424,679          4,232,288             1,556,393            4,485,900          1,569,232       1,618,228         48,996               3.1% Fire  District 25 and 40 Contracts 341,939                170,969               357,660                  178,830                372,059               186,030            186,030             ‐                        0.0% Public Safety 837,728                407,050               1,208,422             504,415                840,835               374,553            453,916             79,363               21.2% Culture and Recreation 1,722,323           415,410               1,509,375             398,516                1,829,714          460,826            414,716             (46,110)              ‐10.0% Interfund/Interdept‐Services 3,916,334           1,692,540          3,900,407             1,726,273            4,794,617          1,997,757       1,746,423         (251,334)           ‐12.6% Fines  and Penalties 822,450                274,674               810,152                  282,433                976,345               323,561            280,215             (43,347)              ‐13.4% Photo Enforcement 2,124,399           762,218               3,463,040             764,813                3,431,405          937,793            1,566,988         629,195            67.1% Seizure  Funds  ‐ Federal/State/Local 176,503                149,552               349,134                  244,066                ‐                           ‐                        20,280                20,280               100.0% Interests and Other Earnings 1,155,371           335,699               1,189,995             423,774                830,000               268,769            558,034             289,265            107.6% Rents, Leases, and Concessions 634,897                275,104               673,666                  287,189                572,695               246,088            318,645             72,557               29.5% Contributions and Donations 177,919                71,218                  197,221                  59,465                   147,970               51,546               109,295             57,748               112.0% Other Miscellaneous 954,680                391,438               708,728                  319,249                748,987               322,188            527,348             205,160            63.7% Other Financing Sources  (Transfer ‐In, etc) 283,213                94,231                  (139,213)                13,000                   1,356,692          99,637               99,637                ‐                        0.0% Total Operating Revenues 109,530,146     47,996,932       110,339,607       51,384,537         106,681,205    46,350,455    52,046,897      5,696,441        12.3% OPERATING EXPENDITURES Council 362,101                157,670               377,512                  162,362                414,410               179,316            157,226             22,090               12.3% Executive 1,954,748           793,626               2,073,371             846,929                2,353,009          958,324            959,127             (803)                     ‐0.1% Emergency Management 569,333                219,758               590,655                  241,268                703,487               279,595            231,332             48,263               17.3% City Attorney 2,088,718           866,583               2,216,692             912,104                2,393,230          988,711            962,847             25,864               2.6% Court Services 2,174,217           888,624               2,222,633             936,015                2,646,159          1,098,123       982,073             116,050            10.6% Community and Eco Dvlpmnt Admin 1,351,830           549,841               1,347,568             561,505                1,507,929          620,817            596,343             24,475               3.9% Development Services 3,023,728           1,282,903          3,032,130             1,182,919            3,485,932          1,419,401       1,284,429         134,972            9.5% Economic Development 949,467                342,370               833,055                  288,153                1,822,045          644,503            348,128             296,375            46.0% Planning 2,815,148           1,134,729          3,022,122             1,217,342            3,463,993          1,395,782       1,246,660         149,123            10.7% Finance 3,132,609           1,073,519          3,427,262             1,172,940            3,606,382          1,235,023       1,205,740         29,283               2.4% City Clerk 1,119,376           533,887               1,274,941             682,037                1,341,087          681,055            646,769             34,285               5.0% Human Resources 1,221,841           492,849               1,268,733             520,504                1,544,649          628,480            577,225             51,255               8.2% Police 30,987,047        12,448,091       33,764,563          13,413,647         36,861,840       14,723,355    14,669,787      53,568               0.4% Jail Services 4,807,443           2,002,529          5,970,673             2,486,858            6,239,267          2,402,527       2,402,527         ‐                        0.0% Community Services  Admin 554,951                214,954               510,454                  217,983                568,806               231,139            224,052             7,088                  3.1% Parks & Trails 4,926,587           1,782,615          5,026,203             1,838,804            5,480,077          1,999,175       1,971,130         28,045               1.4% Parks Planning & Natural Resources 1,059,058           369,879               1,114,153             379,727                2,495,194          860,668            496,003             364,665            42.4% Recreation & Neighborhoods 6,152,644           2,195,359          6,280,121             2,201,755            6,433,402          2,276,352       2,338,770         (62,418)              ‐2.7% Human Services 1,634,387           513,338               1,421,280             560,102                1,382,752          485,754            524,045             (38,291)              ‐7.9% Museum 235,712                97,324                  245,590                  102,003                252,298               104,487            106,346             (1,860)                 ‐1.8% Public Works Admin 406,781                169,665               417,786                  175,219                425,954               178,160            177,428             732                       0.4% Street Maintenance 5,603,141           2,408,369          5,676,989             2,245,930            5,894,373          2,432,079       2,378,544         53,535               2.2% Transportation 5,368,887           2,065,482          5,550,779             2,259,514            6,194,559          2,453,504       2,422,814         30,690               1.3% Debt Service 6,063,576           293,691               5,696,184             290,010                6,793,668          284,932            284,932             ‐                        0.0% Non‐Departmental and Other 14,245,763        1,356,243          4,064,656             1,306,632            6,053,738          1,337,900       1,337,900         ‐                        0.0% Total Operating Expenditures 102,809,093     34,253,900       97,426,104          36,202,262         110,358,241    39,899,162    38,532,176      1,366,986        3.4% Total Ending Fund Balance 33,284,838$     40,306,817$    46,198,341$       48,467,114$      39,126,181$    49,254,511$ 59,713,062$   10,458,551$  21.2% Summary of Sources and Uses Annual Actual YTD Actual Favorable (Unfavorable) 2017 2018 2019 Variance Annual Actual YTD Actual Annual Budget YTD Budget YTD Actual   Monthly Financial Report May 2019 City of Renton, Washington Page 1 of 15 Monthly Financial Report May 2019      OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through May 31, 2019.  Except as noted,  year‐to‐date budgeted revenues and operating expenditures are generally based on the collection/disbursement patterns for  the same period of the preceding two years.  The table on the previous page summarizes the general governmental fund  revenues and expenditures.    Revenues    Taxes   The combined collection of property, sales/use, utility, gambling, admissions, real estate excise, and business & occupation  taxes represents 77% of all resources supporting general governmental activities.   The following section provides detail  information on property, sales, utility, and other taxes.      Property Tax    Current Month Actual: $2.9M  YTD Actual: $11M  Budgeted YTD: $10.9M  Prior Year Same Month: $2.4M  Prior Year YTD: $10.1M  Year‐to‐Year Variance: $920K,  9%  Actual‐to‐Budget YTD Variance:  $157K, 1%                Sales Tax    Current Month Actual: $2.5M  YTD Actual: $11.5M  Budgeted YTD: $11.3M  Prior Year Same Month: $2.5M  Prior Year YTD: $11.7M  Year‐to‐Year Monthly Variance:  ‐$45K, ‐2%  Year‐to‐Year YTD Variance:             ‐$179K, ‐2%  Actual‐to‐Budget Monthly  Variance: $32K, 1%  Actual‐to‐Budget YTD Variance:  $216K, 2%    New Construction and Service  are the sectors generating and collecting more than anticipated.  The City is projecting sales tax revenues to be $27.9M by  the end of the year.  2019’s monthly budgets are generally based on 2014 through 2018 collections.  2018 2019 2019 Actual Budget Actual $ % $ % Jan (12,745)$           20,344$            39,879$            52,624$             ‐413% 19,535$            96% Feb 106,364            143,793            192,217            85,853               81% 48,425               34% Mar 665,471            747,539            764,729            99,258               15% 17,190               2% Apr 6,908,633        6,645,895        7,158,264        249,631            4% 512,369            8% May 2,419,925        3,293,120        2,852,933        433,008            18% (440,187)            ‐13% Jun 108,842            113,280             Jul 90,072               76,102                Aug 84,185               88,428                Sep 196,536            304,667             Oct 7,077,878        5,307,469         Nov 1,742,104        4,039,744         Dec 76,196               104,875             YTD  Total 10,087,649$  10,850,691$  11,008,022$  920,373$         9%157,331$         1% Annual  Total 19,463,461$  20,885,254$   Property Tax  Revenues Year  to Date through May 2019 vs. 2018 2019 vs. Budget Month 2018 2019 2019 Actual Budget Actual $ % $ % Jan 2,217,949$     2,172,405$     2,260,685$     42,736$            2% 88,280$            4% Feb 2,839,044        2,602,634        2,758,295        (80,749)               ‐3% 155,661            6% Mar 2,099,180        2,064,301        2,066,530        (32,650)               ‐2% 2,229                  0% Apr 2,009,648        2,008,608        1,946,020        (63,628)               ‐3% (62,588)               ‐3% May 2,506,478        2,429,497        2,461,963        (44,515)               ‐2% 32,466               1% Jun 1,997,751        2,105,242         ‐                         Jul 2,385,665        2,245,590        ‐                         Aug 2,573,863        2,475,019        ‐                         Sep 2,671,784        2,358,468        ‐                         Oct 2,438,390        2,413,738        ‐                         Nov 2,385,700        2,491,359        ‐                         Dec 2,303,183        2,317,209        ‐                         YTD Total 11,672,299$  11,277,444$  11,493,492$  (178,806)$        ‐2% 216,049$         2% Annual  Total 28,428,635$  27,684,069$   2019 vs. Budget2019 vs. 2018 Month Year  to Date through May Local Retail Sales  Tax  Revenues City of Renton, Washington Page 2 of 15 Monthly Financial Report May 2019      The following table breaks out the City’s base sales tax (excluding Criminal Justice and Annexation Credit) by major business  sectors:  Sales  Tax  by Sector 2018 2019 Bgt YTD Act Change 2019/2018 2019 Act  vs  Bgt New Construction 1,897,845$     1,571,947$     1,630,126$     (267,719)$         ‐14%$           58,179 4% Auto  Sales 2,084,522        2,077,139        2,086,091        1,568                   0%                 8,952 0% General  Retail 3,252,163        3,310,215        3,279,351        27,187                1%            (30,864)‐1% Manufacturing 778,761            865,745            886,389            107,629             14%              20,645 2% Wholesale 558,755            555,409            560,189            1,434                   0%                 4,780 1% Service 2,815,920        2,605,336        2,784,954        (30,966)              ‐1%           179,617 7% Other 284,333            291,653            266,393            (17,939)               ‐6%            (25,260)‐9% YTD  Total 11,672,299$  11,277,444$  11,493,492$  (178,806)$        ‐2%216,049$        2% Note: Excludes  Annexation Credit and Criminal Justice Sales  Tax revenue.       Utility tax     Current Month Actual: $1.3M  YTD Actual: $7M  Budgeted YTD: $7.3M  Prior Year Same Month: $1.4M  Prior Year YTD: $7.5M  Year‐to‐Year Monthly Variance:  ‐$96K, ‐7%  Year‐to‐Year YTD Variance:             ‐$422K, ‐6%  Actual‐to‐Budget Monthly  Variance: ‐$86K, ‐6%  Actual‐to‐Budget YTD Variance:  ‐$246K, ‐3%    The large variance with budget  and prior year is mainly due to lower taxable reported activity for Cellular.  The timing of when Electrical and Natural Gas  receipts were recorded (April instead of March) is why there is such a large variance for March/April.  The City is projecting  utility tax revenues to be about $15.7M by the end of the year.  The monthly budgets are based on 2017/2018 activity.  The  table below breaks out Utility Tax by source.    Utility Tax  by Type 2018 2019 Bgt YTD Act Change 2019/2018  2019 Act  vs  Bgt  Electrical 2,705,413$     2,611,195$     2,461,052$     (244,361)$         ‐9%$      (150,143)‐6% Natural  Gas 988,574            975,005            938,147            (50,427)               ‐5%            (36,858)‐4% Cell 543,162            696,014            279,936            (263,226)            ‐48%         (416,078)‐60% Phone 350,776            308,097            424,536            73,759                21%           116,438 38% Cable 620,278            677,463            586,882            (33,396)               ‐5%            (90,581)‐13% Garbage/Solid Waste 294,052            260,327            324,800            30,748                10%              64,474 25% City Utilities 1,968,585        1,767,326        2,033,762        65,177                3%           266,436 15% Utility Tax  Audit ‐                              ‐                              ‐                              ‐                               N/A                              ‐ N/A YTD Total 7,470,841$     7,295,427$     7,049,115$     (421,726)$        ‐6%(246,312)$       ‐3% Annual Total 16,365,034$  16,242,153$   YTD as % of 46% 45%      2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,395,386$     1,514,363$     1,256,646$     (138,740)$         ‐10% (257,717)$         ‐17% Feb 1,617,972        1,429,503        1,372,784        (245,188)            ‐15% (56,719)               ‐4% Mar 1,579,191        1,362,194        786,486            (792,705)            ‐50% (575,709)            ‐42% Apr 1,463,336        1,583,918        2,313,810        850,474            58% 729,892            46% May 1,414,956        1,405,448        1,319,389        (95,567)               ‐7% (86,059)               ‐6% Jun 1,269,602        1,282,448         Jul 1,398,960        1,415,513         Aug 1,203,168        1,166,791         Sep 1,197,617        1,195,903         Oct 1,292,218        1,336,595         Nov 1,083,283        1,141,066         Dec 1,449,344        1,408,409         YTD  Total 7,470,841$     7,295,427$     7,049,115$     (421,726)$        ‐6% (246,312)$        ‐3% Annual  Total 16,365,034$  16,242,153$   2019 vs. Budget2019 vs. 2018 Year  to Date through May Utility Tax  Revenues Month City of Renton, Washington Page 3 of 15 Monthly Financial Report May 2019      Other Taxes     Real Estate Excise Tax    Current Month Actual: $456K  YTD Actual: $2.1M  Budgeted YTD: $676K  Prior Year Same Month: $607K  Prior Year YTD: $2.5M  Year‐to‐Year Monthly Variance:  ‐$151K, ‐25%  Year‐to‐Year YTD Variance:             ‐$384K, ‐15%  Actual‐to‐Budget Monthly  Variance: $331K, 264%  Actual‐to‐Budget YTD Variance:  $1.5M, 215%    REET collections year‐to‐date  are behind 2018 figures but  much higher than budgeted expectations.  The City is projecting REET to be about $4.4M at the end of the year.        Gambling Tax    Current Month Actual: $267K  YTD Actual: $1.1M  Budgeted YTD: $825K  Prior Year Same Month: $223K  Prior Year YTD: $1.2M  Year‐to‐Year Monthly Variance:  $45K, 20%  Year‐to‐Year YTD Variance:             ‐$72K, ‐6%  Actual‐to‐Budget Monthly  Variance: $97K, 57%  Actual‐to‐Budget YTD Variance:  $313K, 38%    Gambling tax revenue is behind  2018 but is above budget.  The City is projecting gambling tax revenues to be about $2.5M at the end of the year.       2018 2019 2019 Actual Budget Actual $ % $ % Jan 840,316$         235,792$         748,462$         (91,854)$            ‐11% 512,671$         217% Feb 366,011            88,705               219,686            (146,325)            ‐40% 130,981            148% Mar 291,045            126,164            272,006            (19,039)               ‐7% 145,842            116% Apr 405,746            99,837               430,070            24,323               6% 330,232            331% May 607,431            125,357            456,154            (151,277)            ‐25% 330,797            264% Jun 496,917            157,020             Jul 846,631            181,410             Aug 406,944            136,185             Sep 451,349            285,331             Oct 1,716,905        1,133,509         Nov 976,580            716,731             Dec 409,249            713,958             YTD  Total 2,510,550$     675,855$         2,126,379$     (384,171)$        ‐15% 1,450,523$     215% Annual  Total 7,815,124$     4,000,000$      *Total REET (GF & CIP) Real Estate Excise  Tax (REET) Revenues* Year  to Date through May Month 2019 vs. Budget2019 vs. 2018 2018 2019 2019 Actual Budget Actual $ % $ % Jan 210,929$         156,146$         83,278$            (127,651)$         ‐61% (72,869)$            ‐47% Feb 255,285            164,992            244,652            (10,633)               ‐4% 79,660               48% Mar 245,283            154,213            283,007            37,724               15% 128,795            84% Apr 275,795            179,219            259,539            (16,256)               ‐6% 80,321               45% May 222,540            170,531            267,414            44,874               20% 96,883               57% Jun 252,663            175,721             ‐                         Jul 255,351            175,771            ‐                         Aug 226,388            160,458            ‐                         Sep 75,748               101,653            ‐                         Oct 222,034            158,206            ‐                         Nov 228,862            176,826            ‐                         Dec 360,166            226,264            ‐                         YTD  Total 1,209,832$     825,101$         1,137,890$     (71,942)$           ‐6% 312,789$         38% Annual  Total 2,831,045$     2,000,000$      Gambling Tax Revenue Month Year  to Date through May 2019 vs. Budget2019 vs. 2018 City of Renton, Washington Page 4 of 15 Monthly Financial Report May 2019      Franchise Fees    Current Month Actual: $20K  YTD Actual: $747K  Budgeted YTD: $773K  Prior Year Same Month: $341K  Prior Year YTD: $782K  Year‐to‐Year Monthly  Variance: ‐$320K, ‐94%  Year‐to‐Year YTD Variance:          ‐$35K, ‐4%  Actual‐to‐Budget Monthly  Variance: ‐$153K, ‐88%  Actual‐to‐Budget YTD  Variance: ‐$26K, ‐3%    The timing of when 2018 4th and 2019 1st quarters activity were receipted (usually January and April, respectively) is why the  4 months are skewed.  The City is projecting franchise fees to be a about $1.5M at the end of the year.      Admission Tax     Current Month Actual: $1K  YTD Actual: $88K  Budgeted YTD: $133K  Prior Year Same Month: $2K  Prior Year YTD: $115K  Year‐to‐Year YTD Variance:          ‐$26K, ‐23%  Actual‐to‐Budget YTD  Variance: ‐$44K, ‐34%    The City is projecting  admissions tax revenues to be  around $180K by the end of  the year.        Business & Occupation Tax    Current Month Actual: $4.3M  YTD Actual: $7.2M  Budgeted YTD: $5.4M  Prior Year Same Month: $213K  Prior Year YTD: $8M  Year‐to‐Year Monthly  Variance: $4.1M, 1908%  Year‐to‐Year YTD Variance:          ‐$808K, ‐10%  Actual‐to‐Budget Monthly  Variance: $4.1M, 2422%  Actual‐to‐Budget YTD  Variance: $1.8M, 32%    2018 2019 2019 Actual Budget Actual $ % $ % Jan 371,458$         373,958$         36,388$            (335,070)$         ‐90% (337,569)$         ‐90% Feb 16,600               11,383               342,814            326,214            1965% 331,431            2912% Mar 15,792               12,373               26,075               10,283               65% 13,702               111% Apr 37,420               202,329            321,069            283,649            758% 118,739            59% May 340,622            173,133            20,400               (320,222)           ‐94% (152,733)           ‐88% Jun 1,050                  11,122               ‐                         Jul 344,386            341,360            ‐                         Aug 15,193               11,379               ‐                         Sep ‐                        4,349                  ‐                         Oct 346,194            358,545            ‐                         Nov 11,200               10,786               ‐                         Dec 9,000                  15,782               ‐                         YTD  Total 781,892$         773,176$         746,746$         (35,146)$           ‐4% (26,430)$           ‐3% Annual Total 1,508,915$     1,526,500$      Month 2019 vs. 2018 2019 vs. Budget Franchise  Fees  Revenue Year to Date through May 2018 2019 2019 Actual Budget Actual $ % $ % Jan 56,598$            65,388$            8$                          (56,590)$            ‐100% (65,380)$            ‐100% Feb 1,473                  2,374                  48,782               47,309               3212% 46,407               1954% Mar 112                       62                          ‐                         Apr 54,560               63,040               37,923               (16,637)               ‐30% (25,118)               ‐40% May 1,911                  1,778                  1,395                  (516)                      ‐27% (383)                      ‐22% Jun ‐                        438                       ‐                         Jul ‐                        28,454               ‐                         Aug 62,959               35,964               ‐                         Sep ‐                        ‐                        ‐                         Oct 46,297               26,750               ‐                         Nov 1,556                  867                       ‐                         Dec ‐                        24,884               ‐                         YTD  Total 114,654$         132,643$         88,107$            (26,434)$            ‐23% (44,473)$            ‐34% Annual Total 225,466$         250,000$          2019 vs. Budget Admission Tax  Revenue Year to Date through May Month 2019 vs. 2018 2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,301,574$     1,130,591$     919,391$         (382,183)$         ‐29% (211,200)$         ‐19% Feb 1,013,630        618,964            1,317,771        304,141            30% 698,807            113% Mar 48,278               77,099               105,983            57,705               120% 28,884               37% Apr 5,430,049        3,447,959        583,109            (4,846,940)       ‐89% (2,864,850)       ‐83% May 212,741            169,415            4,272,007        4,059,266        1908% 4,102,593        2422% Jun 172,687            146,931             ‐                         Jul 840,839            871,974            ‐                         Aug 451,217            303,274            ‐                         Sep 12,193               56,844               ‐                         Oct 572,637            721,429            ‐                         Nov 632,346            404,944            ‐                         Dec 1,026                  50,576               ‐                         YTD  Total 8,006,272$     5,444,028$     7,198,261$     (808,011)$        ‐10% 1,754,233$     32% Annual Total 10,689,216$  8,000,000$      *Total Business & Occupation Taxes (GF & CIP) Business & Occupation Taxes  (B&O)* Year to Date  through May Month 2019 vs. 2018 2019 vs. Budget City of Renton, Washington Page 5 of 15 Monthly Financial Report May 2019      April/May variance is due to the timing of when a large receipt was recorded (normally recorded in April but was recorded  in May).  The City is projecting B&O taxes to be around $9.5M by the end of the year.      Licenses and Permits    Business Licenses    Current Month Actual: $34K  YTD Actual: $839K  Budgeted YTD: $423K  Prior Year Same Month: $34K  Prior Year YTD: $894K  Year‐to‐Year Monthly Variance:  $637, 2%  Year‐to‐Year YTD Variance:             ‐$54K, ‐6%  Actual‐to‐Budget Monthly  Variance: ‐$17K, ‐33%  Actual‐to‐Budget YTD Variance:  $416K, 98%    The variance with the prior year  is mostly due to late filings and  payments associated with the business renewal process.   The City is projecting business license fees to be very close to  $1M by the end of the year.      Building Permits and  Development Service Fees    Current Month Actual: $401K  YTD Actual: $1.8M  Budgeted YTD: $2.2M  Prior Year Same Month: $437K  Prior Year YTD: $2M  Year‐to‐Year Monthly Variance:   ‐$36K, ‐8%  Year‐to‐Year YTD Variance:             ‐$222K, ‐11%  Actual‐to‐Budget Monthly  Variance: ‐$144K, ‐26%  Actual‐to‐Budget YTD Variance:   ‐$399K, ‐18%    The City is projecting building permits and development services fees to be $4.1M by the end of the year.      2018 2019 2019 Actual Budget Actual $ % $ % Jan 574,453$         189,046            281,106$         (293,347)$         ‐51% 92,060$            49% Feb 208,947            92,184               348,391            139,444            67% 256,207            278% Mar 41,777               27,476               115,148            73,371               176% 87,672               319% Apr 34,897               62,914               60,577               25,679               74% (2,337)                  ‐4% May 33,623               51,500               34,260               637                       2% (17,240)               ‐33% Jun 30,721               20,877                ‐                         Jul 16,354               64,859               ‐                         Aug 15,778               38,094               ‐                         Sep 8,889                  20,772               ‐                         Oct 10,260               57,560               ‐                         Nov 7,950                  29,374               ‐                         Dec 54,000               40,800               ‐                         YTD Total 893,697$         423,119$         839,482$         (54,215)$           ‐6% 416,362$         98% Annual  Total 1,037,650$     695,455$          *Total Business License (GF & CIP) 2019 vs. 2018 Year  to Date through May 2019 vs. Budget Business Licenses* Month 2018 2019 2019 Actual Budget Actual $ % $ % Jan 314,626$         388,426$         317,466$         2,839$               1% (70,960)$            ‐18% Feb 280,745            304,673            397,742            116,997            42% 93,069               31% Mar 588,527            598,844            338,320            (250,207)            ‐43% (260,524)            ‐44% Apr 403,892            365,844            348,901            (54,991)               ‐14% (16,943)               ‐5% May 436,943            544,326            400,592            (36,351)               ‐8% (143,734)            ‐26% Jun 363,521            532,521             Jul 484,920            410,225             Aug 411,236            463,122             Sep 342,301            431,287             Oct 453,317            430,456             Nov 297,467            423,510             Dec 272,733            330,035             YTD  Total 2,024,732$     2,202,113$     1,803,020$     (221,713)$        ‐11% (399,093)$        ‐18% Annual  Total 4,650,227$     5,223,637$      Year  to Date through May 2019 vs. Budget2019 vs. 2018 Month Building Permits and Development Service  Fees City of Renton, Washington Page 6 of 15 Monthly Financial Report May 2019      Intergovernmental  These revenue  sources include  federal (direct and  indirect) grants, state  grants, state shared  revenues, local  grants, and  entitlements.  State  shared revenues 91%  of the total revenues  in this category. The year‐to‐date total Intergovernmental revenue is $3.1M or 40% of the budget.       State Shared  Revenues    YTD Total: $2.6M  Year‐to‐Year YTD  Variance: $136K, 5%  Actual‐to‐Budget YTD  Variance: $236K, 10%    The higher than  expected collection is  due to collecting  more than  anticipated Criminal  Justice’s Sales Tax,  Marijuana Distribution, and Liquor Excise Tax.  The City is projecting state shared revenues to be $6.7M at the end of the  year.      Charges for Services   These revenue sources consist of general government, public safety, plan review and inspection, culture and recreation, and  interfund/interdepartmental sales and services.  Recreation and interfund/interdepartmental sales and services constitute  59% of the total revenue in this category.  The year‐to‐date total charges for services are $3.7M or 39% of the budget.  The  following sections provide detail information for Public Safety, Recreation, and Interfund Services.    Public Safety Services    YTD Total: $454K  Year‐to‐Year YTD Variance:             ‐$50K, ‐10%  Actual‐to‐Budget YTD Variance:  $79K, 21%    The city is projecting public  safety service revenues to be  close to $1M by the end of the  year.          Intergovernmental 2018 2019 Bgt YTD  Act Change 2019/2018  2019 Act  vs  Bgt  Fire  District #25 ‐$                            ‐$                            ‐$                            ‐$                            N/A  $                          ‐ N/A Fire  District #40 178,830            186,030            186,030            7,200                   4%‐                            0% State  Shared Revenue 2,504,803        2,404,623        2,640,965        136,162             5% 236,341           10% Federal  Grants 56,404               83,510               38,314               (18,090)               ‐32% (45,196)             ‐54% State  Grants 16,651               21,596               21,596               4,945                   30%‐                            0% Other Grants/Intgovt 93,330               214,205            214,362            121,032             130%156                     0% ARRA Grants ‐                              ‐                              ‐                              ‐                               N/A ‐                            N/A Total  Rev YTD 2,850,018$     2,909,964$     3,101,266$     251,248$          9%191,301$        7% Total  Rev Annual 7,680,968$     7,744,703$      YTD  %37% 38% 40% Note:  Includes  CJ Sales  Tax  and FD25 & FD40 contracts 2018 2019 2019 Actual Budget Actual $ % $ % Crim Just Sales  Tax 1,225,590$     1,154,703$     1,297,009$     71,418$            6% 142,306$         12% Judicial Contribution 5,517                  2,815                  10,830               5,313                  96% 8,015                  285% Crim Just ‐ High Crime 136,534            134,686            147,980            11,447               8% 13,294               10% Crim Just ‐ Pop 14,555               12,090               15,185               630                       4% 3,095                  26% Crim Just ‐ Spec Prog 52,729               54,012               54,774               2,045                  4% 763                       1% State  DUI 7,592                  8,917                  7,571                  (21)                        0% (1,346)                  ‐15% Marijuana  Distribution ‐                        ‐                        52,766               52,766               100% 52,766               100% Liquor Profits 212,768            212,547            212,201            (567)                     0% (346)                     0% Liquor Excise  Tax 259,876            246,897            285,257            25,381               10% 38,360               16% Fuel  Tax 589,642            577,957            557,391            (32,251)              ‐5% (20,565)              ‐4% YTD  Total 2,504,803$     2,404,623$     2,640,965$     136,162$         5% 236,341$         10% Annual  Total 6,710,599$     6,182,479$      State  Shared Revenues 2019 vs. 2018 Revenue Year to Date through May 2019 vs. Budget 2018 2019 2019 Actual Budget Actual $ % $ % Jan 224,932$         118,906$         68,958$            (155,975)$         ‐69% (49,949)$            ‐42% Feb 60,888               53,255               132,287            71,398               117% 79,032               148% Mar 82,789               95,130               82,273               (515)                      ‐1% (12,856)               ‐14% Apr 58,572               49,301               106,334            47,762               82% 57,034               116% May 77,233               57,962               64,065               (13,169)               ‐17% 6,103                  11% Jun 84,800               52,671                ‐                         Jul 92,695               62,686                ‐                         Aug 50,236               44,525                ‐                         Sep 78,189               54,283                ‐                         Oct 187,194            98,316               ‐                         Nov 68,008               59,896               ‐                         Dec 142,886            93,904               ‐                         YTD  Total 504,415$         374,553$         453,916$         (50,499)$            ‐10% 79,363$            21% Annual  Total 1,208,422$     840,835$          2019 vs. Budget Month 2019 vs. 2018 Year  to Date through May Public Safety Services City of Renton, Washington Page 7 of 15 Monthly Financial Report May 2019      Recreation    Current Month Actual: $97K  YTD Total: $415K  Budgeted YTD: $461K  Prior Year Same Month: $83K  Prior Year YTD Total: $399K  Year‐to‐Year Monthly Variance:  $14K, 17%  Year‐to‐Year YTD Variance:             $16K, 4%  Actual‐to‐Budget Monthly  Variance: $2K, 3%  Actual‐to‐Budget YTD Variance:  ‐$46K, ‐10%    The new recreation software,  PerfectMind, follows GAAP revenue recognition principles where revenue is not recognized until the service is performed,  whereas the previous software recognized all revenue at the date of the transaction.  As a result, actual revenue for 2019  will likely lag behind 2018 amounts as revenue for course programming will not fully be recognized until each session of the  program occurs.  The City is projecting recreation revenues to be under budget by the end of the year.      Interfund Services    YTD Total: $1.7M  Year‐to‐Year YTD Variance:            $20K, 1%  Actual‐to‐Budget YTD Variance:   ‐$251K, ‐13%    2019’s monthly budgets are  based on 1/12th of the annual  budget.  The majority of these  revenues are related to indirect  cost allocations, which are  internal administrative costs.   The remaining costs consist of  Development Services division’s  inspection fees, Parks Planning  and Natural Resources division’s capital investment program reimbursements, Transportation division’s capital investment  program reimbursements, and Maintenance division’s street maintenance reimbursements.  The City is projecting interfund  service revenues to be $4.2M at year‐end.      2018 2019 2019 Actual Budget Actual $ % $ % Jan 138,388$         164,609$         63,819$            (74,569)$            ‐54% (100,790)$        ‐61% Feb 51,694               51,039               81,045               29,351               57% 30,006               59% Mar 55,300               68,349               97,206               41,907               76% 28,858               42% Apr 70,321               82,168               75,539               5,219                  7% (6,628)                  ‐8% May 82,814               94,662               97,107               14,293               17% 2,445                  3% Jun 191,108            194,998            ‐                         Jul 419,790            510,833            ‐                         Aug 313,627            394,016            ‐                         Sep 76,421               119,972            ‐                         Oct 72,092               68,624               ‐                         Nov 37,924               54,491               ‐                         Dec (104)                     25,954               ‐                         YTD  Total 398,516$         460,826$         414,716$         16,200$            4% (46,110)$            ‐10% Annual  Total 1,509,375$     1,829,714$      2019 vs. Budget2019 vs. 2018 Month Recreation Year  to Date through May 2018 2019 2019 Actual Budget Actual $ % $ % Jan 341,804$         399,551$         355,266$         13,461$            4% (44,286)$            ‐11% Feb 344,339            399,551            340,799            (3,540)                  ‐1% (58,752)               ‐15% Mar 378,470            399,551            341,533            (36,937)               ‐10% (58,018)               ‐15% Apr 332,894            399,551            365,875            32,981               10% (33,677)               ‐8% May 328,765            399,551            342,950            14,185               4% (56,601)               ‐14% Jun 320,735            399,551             ‐                         Jul 236,427            399,551             ‐                         Aug 313,949            399,551             ‐                         Sep 314,193            399,551             ‐                         Oct 330,901            399,551            ‐                         Nov 332,981            399,551            ‐                         Dec 324,948            399,551            ‐                         YTD  Total 1,726,273$     1,997,757$     1,746,423$     20,150$            1% (251,334)$        ‐13% Annual  Total 3,900,407$     4,794,617$      2019 vs. Budget Month Interfund Services Year  to Date through May 2019 vs. 2018 City of Renton, Washington Page 8 of 15 Monthly Financial Report May 2019      Fines and Penalties    YTD Total: $1.8M  Year‐to‐Year YTD Variance:  $800K, 76%  Actual‐to‐Budget YTD Variance:  $586K, 46%    These revenue sources contain  civil (penalties, infractions, and  parking), criminal (traffic, non‐ traffic, and costs), and non‐ court fines, forfeitures, and  penalties.  The table below  breaks down these fines by  type.  The City is projecting  fines and penalties to be close  to $5M by the end of the year.    Year  to Date through May 2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 532$                    797$                    486$                    (46)$                      ‐9% (311)$                   ‐39% Civil Infraction Penalties 120,460            118,727            101,133            (19,327)               ‐16% (17,594)               ‐15% Civil Parking Infraction Penalties 59,926               97,269               57,619               (2,308)                  ‐4% (39,650)               ‐41% Photo Enforcement Program 764,813            937,793            1,566,988        802,175            105% 629,195            67% Criminal Traffic  Misdemeanor Fines 26,617               27,730               23,405               (3,212)                  ‐12% (4,325)                  ‐16% Criminal Non‐Traffic  Fines 31,352               10,506               47,367               16,015               51% 36,861               351% Criminal Costs 33,170               8,883                  36,590               3,420                  10% 27,707               312% Non‐Court Fines, Forfeitures and Penalties 10,376               59,649               13,615               3,239                  31% (46,034)               ‐77% YTD  Total 1,047,246$     1,261,354$     1,847,203$     799,956$         76% 585,848$         46% Annual Total 4,273,192$     4,407,750$      Revenue 2019 vs. Budget Fines  and Penalties by Type 2019 vs. 2018     Included in the Fines and Penalties annual  revenue budget is $3.4M from the Photo  Enforcement program.  The monthly budget  is based on the prior year’s revenue.  The  year‐to‐date collections from this program  equates to $1.6M.      The associated costs includes the equipment  provided by American Traffic Solutions, Inc.  (ATS), dedicated 2 FTE in the Court Services  Department to process the increased  caseload.  This staff time, along with a 50%  pro tem budget and interpreter costs  amounts to $334K for personnel costs.  The  total costs for the program equates to  $1.5M, which is represented in the table.        2018 2019 2019 Actual Budget Actual $ % $ % Jan 141,625$         178,864$         218,190$         76,565$            54% 39,326$            22% Feb 224,814            265,241            341,345            116,531            52% 76,104               29% Mar 312,111            309,356            555,275            243,163            78% 245,919            79% Apr 137,934            229,161            445,418            307,484            223% 216,257            94% May 230,762            278,733            286,975            56,213               24% 8,242                  3% Jun 235,311            325,296             Jul 451,443            428,149             Aug 624,200            550,932             Sep 461,645            419,044             Oct 582,058            530,312             Nov 465,852            432,399             Dec 405,436            460,264             YTD  Total 1,047,246$     1,261,354$     1,847,203$     799,956$         76%585,848$         46% Annual  Total 4,273,192$     4,407,750$      Month 2019 vs. Budget2019 vs. 2018 Year  to Date through May Fines  and Penalties by Month Favorable 19 Budget 19 Actual 19  Budget 19 Actual (Unfavorable) 1 Jan 162,639$         214,193$         125,844$         28,745$            185,448$          Feb 187,840            285,643            125,844            128,014            157,629             Mar 199,988            399,499            125,844            128,001            271,498             Apr 174,391            387,303            125,844            128,011            259,292             May 212,936            280,350            125,844            128,010            152,340             Jun 231,485             ‐                        125,844            ‐                        ‐                         Jul 349,711            ‐                        125,844            ‐                        ‐                         Aug 442,497            ‐                        125,844            ‐                        ‐                         Sep 341,229            ‐                        125,844            ‐                        ‐                         Oct 439,665            ‐                        125,844            ‐                        ‐                         Nov 354,895            ‐                        125,844            ‐                        ‐                         Dec 334,129            ‐                        125,844            ‐                        ‐                         YTD  Total 937,793$         1,566,988$     629,218$         540,781$         1,026,207$      Annual Total 3,431,405$     1,510,123$      1Actuals  of Revenues and Expenses Photo Enforcement Program Year  to Date through May Month Revenues Expenses City of Renton, Washington Page 9 of 15 Monthly Financial Report May 2019      Miscellaneous    YTD Total: $1.1M  Year‐to‐Year YTD Variance:  $19K, 2%  Actual‐to‐Budget YTD Variance:  $455K, 65%    This revenue source reflects the  collection of interest and other  earnings, rents, leases, and  concessions, contributions, and  donations from private sources,  and other miscellaneous  revenues.  The table below  shows the primary drivers of  the positive variances for each  month.    2018 2019 2019 Actual Budget Actual $ % $ % Interests and Other Earnings 423,774$         268,769$         558,034$         134,260$         32% 289,265$         108% Rents, Leases, and Concessions 287,189            246,088            318,645            31,456               11% 72,557               29% Contributions/Donations from  Private Sources 59,465               51,546               109,295            49,830               84% 57,748               112% Other 116,389            128,753            143,526            27,137               23% 14,773               11% Seizure  Funds ‐ Federal/State/Local 244,066            ‐                        20,280               (223,785)           ‐92% 20,280               100% YTD Total 1,130,883$     695,157$         1,149,781$     18,898$            2% 454,624$         65% Annual Total 2,666,594$     1,805,787$      2019 vs. Budget Miscellaneous Revenues by Type Year  to Date through May Revenue 2019 vs. 2018   2018 2019 2019 Actual Budget Actual $ % $ % Jan 262,690$         224,737$         299,507$         36,817$            14% 74,770$            33% Feb 150,608            105,310            254,172            103,564            69% 148,862            141% Mar 178,170            126,975            195,180            17,010               10% 68,206               54% Apr 152,700            122,387            193,402            40,702               27% 71,015               58% May 386,715            115,748            207,520            (179,195)            ‐46% 91,772               79% Jun 193,674            146,379             Jul 221,279            169,055             Aug 275,725            179,979             Sep 164,873            124,092             Oct 200,817            125,836             Nov 174,068            112,093             Dec 305,276            253,195             YTD  Total 1,130,883$     695,157$         1,149,781$     18,898$            2%454,624$         65% Annual  Total 2,666,594$     1,805,787$      Year  to Date through May Month 2019 vs. Budget2019 vs. 2018 Miscellaneous Revenues  by Month City of Renton, Washington Page 10 of 15 Monthly Financial Report May 2019      EXPENSES  Overall, the City has expended 34.9% of its budgeted general governmental expenditures at the end of May.  This is $1.4M  or 3.4% below year‐to‐date budgeted expenditures.  The City did not have any general governmental departments over  budget but we did see some divisions within those departments over budget.  Please refer to the General Governmental  Funds Summary of Sources and Uses table on page 1 for details.                                                                             City of Renton, Washington Page 11 of 15 Monthly Financial Report May 2019      ENTERPRISE FUNDS  The table below gives an analysis of all City Enterprise funds.  Displayed are the year‐to‐date revenues and expenditures for  each enterprise.  Included in each funds are the capital revenues and expenditures.  The negative fund balance for Golf Course  will be positive during the summer months.    Airport Golf Course Solid Waste  Utility Water Utility Wastewater  Utility Surface Water  Utility Metro REVENUES: Licenses  and permits ‐                 ‐                 ‐                 ‐                 46,325            17,100            ‐                  Grants  / intergovernmental 49,750            ‐                 167,153          ‐                 ‐                 693,724          ‐                  Charges  for services 128,497          654,156          7,476,897       6,238,752       4,503,083       4,977,732       7,135,437        Interdepartmental services ‐                 ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Fines  and penalties 617                 ‐                 ‐                 ‐                 481                 ‐                 ‐                  Rents, leases, and misc fees 1,099,989       136,293          ‐                 77,485            ‐                 ‐                 ‐                  Interest and other misc 32,108            3,976              17,055            435,411          293,978          174,732          38,698             TOTAL REVENUES 1,310,961       794,425          7,661,105       6,751,648       4,843,867       5,863,288       7,174,135        EXPENSES: Utility billing ‐                 ‐                 17,658            61,892            50,940            75,387            ‐                  Utility systems ‐                 ‐                 8,172,064       1,751,521       1,595,291       1,454,263       ‐                  Utility maintenance ‐                 ‐                 161,615          2,389,146       865,420          1,302,243       7,025,508        Transportation 771,956          ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Golf ‐                 943,333          ‐                 ‐                 ‐                 ‐                 ‐                  TOTAL EXPENSES 771,956          943,333          8,351,337       4,202,559       2,511,651       2,831,893       7,025,508        AMOUNT AVAILABLE FOR DEBT  SERVICE 539,005          (148,908)        (690,232)        2,549,089       2,332,216       3,031,395       148,627           DEBT SERVICE: Principal ‐                 ‐                 ‐                 ‐                 ‐                 ‐                 ‐                  Interest ‐                 ‐                 ‐                 ‐                 ‐                 216,669          ‐                  TOTAL DEBT SERVICE ‐                 ‐                 ‐                 ‐                 ‐                 216,669          ‐                  CAPITAL PROJECTS 68,923            14,140            ‐                 1,361,907       1,421,276       1,063,999       ‐                  TRANSFERS IN/(OUT)‐                 ‐                 ‐                 ‐                 27,588            6,378              ‐                  CHANGE IN FUND BALANCE 470,082          (163,048)        (690,232)        1,187,182       938,528          1,757,105       148,627           BEGINNING FUND BALANCE, Jan 1 4,985,377       110,812          2,276,333       38,002,973     18,879,201     16,356,030     5,512,418        ENDING FUND BALANCE, May  31 5,455,459       (52,236)          1,586,101       39,190,155     19,817,729     18,113,135     5,661,045              City of Renton, Washington Page 12 of 15 Monthly Financial Report May 2019      INTERNAL SERVICE FUNDS  The table below gives an analysis of all City Internal Service Funds.  Displayed are the year‐to‐date revenues and  expenditures for each internal service.  Included in each fund are the capital revenues and expenditures.     Equipment  Rental Information  Technology Facilities Communications Insurance Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐               132,912       ‐               ‐                       ‐               ‐               ‐                Grants  / intergovernmental ‐               ‐               ‐               ‐                       ‐               ‐               35,898          Charges  for services Equipment rental  m&o 1,012,172    2,068,517    ‐               ‐                       ‐               ‐               ‐                Print and mail ‐               ‐               ‐               186,201               ‐               ‐               ‐                Communications ‐               1,462           ‐               274,111               ‐               ‐               ‐                Facilities ‐               ‐               1,801,717    ‐                       ‐               ‐               ‐                Data  cards  and cell  phones ‐               ‐               ‐               ‐                       ‐               ‐               ‐                IT service contracts ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Interest and other misc 39,897         23,871         8,349           4,107                   111,519       27,820         85,784          Internal service fund misc: Vehicle  / equipment capital  recovery 1,238,156    ‐               ‐               ‐                       ‐               ‐               ‐                Insurance premiums ‐               ‐               ‐               ‐                       703,604       ‐               ‐                Worker's  comp/unemployment ‐               ‐               ‐               ‐                       578,313       ‐               ‐                Benefit premiums ‐               ‐               ‐               ‐                       ‐               4,203,751    1,093,616     Other misc 4,332           650              61,773         ‐                       ‐               424,382       ‐                Interfund Loan ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Capital  contributions ‐               ‐               ‐               ‐                       ‐               ‐               ‐                Disposal  of capital  assets 4,186           ‐               ‐               ‐                       ‐               ‐               ‐                Insurance recoveries ‐               ‐               ‐               ‐                       94,086         ‐               ‐                TOTAL REVENUES 2,298,743    2,227,412    1,871,840    464,419               1,487,522    4,655,953    1,215,298     EXPENSES: Communications 246,825                Equipment rental 1,202,897     Facilities 2,062,207     Healthcare 4,134,561     Information technology 2,224,436     Print and mail 196,281                Retiree healthcare 316,261        Risk management: Risk management 643,168        Unemployment 22,347          Worker's  compensation 363,608        TOTAL EXPENSES 1,202,897    2,224,436    2,062,207    443,106               1,029,123    4,134,561    316,261        AMOUNT AVAILABLE FOR CAPITAL 1,095,846    2,976           (190,368)      21,313                 458,399       521,392       899,037        CAPITAL PROJECTS 652,439       44,934         10,901         ‐                       ‐               ‐               ‐                TRANSFERS IN ‐               37,806         12,389         ‐                       ‐               ‐               ‐                TRANSFERS (OUT)‐               ‐               (5,220)          ‐                       ‐               ‐               ‐                CHANGE IN FUND BALANCE 443,407       (4,152)          (194,100)      21,313                 458,399       521,392       899,037        BEGINNING FUND BALANCE, Jan 1 6,493,018    3,934,408    1,376,859    685,593               18,522,154  4,259,511    13,876,628   ENDING FUND BALANCE, May  31 6,936,425    3,930,256    1,182,759    706,906               18,980,553  4,780,903    14,775,665     City of Renton, Washington Page 13 of 15 Monthly Financial Report May 2019      FUND BALANCE  Page 15 shows the ending fund balance as of May 2019.  The City’s fund balance is a combination of current deficit/surplus  of funds which have accrued from unexpended operating budgets, unanticipated excess revenues, and from balances  accumulated from prior years.      The prior year’s balances (or beginning balance) include funds identified as being reserved for specific purposes or required  to meet the current year’s appropriations. These balances also provide financial stability to the City’s operation during  uncertain times and provide a layer of security to bondholders.      At the end of May, the City has $59.7M reported in the combined general governmental fund balance of the current year’s  operating budget, which is approximately 54.1% of budgeted operating expenditures.  This is an increase of $13.5M from the  year’s beginning balance.  May’s ending fund balance is over the anticipated General Governmental Fund Balance of $49.3M  by $10.5M or 21.2%.  Although the ending fund balance is above projections, it is consistent with the prior years’ trends and  consistent with the forecast (Long Range Plan) that was presented as part of the 2019/2020 Adopted Budget.      CONTACT INFORMATION  This report is prepared by the Finance Division of the Administrative Services Department.  For additional financial  information, please also review our website: http://www.rentonwa.gov/.  For any questions about the report, please feel  free to contact us at hnguyen@rentonwa.gov or kroller@rentonwa.gov.  City of Renton, Washington Page 14 of 15 Monthly Financial Report May 2019      City  of Renton All Funds ‐ Revenue, Expenditures and Fund  Balances Cash  Basis through May 31, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  05/31/19 Total Funds   Available Budgeted  Expenditure Expenditure  05/31/19 Ending Balance GENERAL FUND: 46,198,341          106,681,205        52,046,897          98,245,238          110,358,241        38,532,176          59,713,062           SPECIAL REVENUE FUNDS: 2,527,377            1,880,224            950,299               3,477,676            2,287,870            429,408               3,048,268             102 Arterial  Street 163,671               700,000               263,920               427,591               700,000                ‐                           427,591                108 Leased City Properties 651,819               842,550               414,980               1,066,799            1,007,970            266,868               799,931                110 Hotel  Motel 722,387               225,000               182,407               904,794               406,547               92,103                 812,691                125 1% For Art 119,446               15,000                 662                      120,108               67,679                 50,683                 69,425                  127 Cable  Communication 529,159               97,674                 86,276                 615,435               105,674               19,754                 595,681                135 Springbrook Wetlands  Bank 340,895               ‐                           2,054                   342,949               ‐                           ‐                           342,949                CAPITAL PROJECT FUNDS (CIP):40,766,600          41,665,286          26,022,357          66,788,957          68,558,358          6,874,814            59,914,143           303 Community Services  Mitigation 2,578,256            86,500                 158,286               2,736,542            1,629,000            ‐                           2,736,542             304 Fire  Mitigation 1,455,669            99,000                 56,425                 1,512,094            128,576               ‐                           1,512,094             305 Transportation Mitigation 3,332,524            1,020,000            339,408               3,671,932            1,950,000            ‐                           3,671,932             316 Municipal Facilities  CIP 20,675,238          5,682,500            16,026,386          36,701,624          26,314,513          4,998,747            31,702,877           317 Transportation CIP 5,492,313            34,777,286          9,360,811            14,853,124          38,488,869          1,724,646            13,128,478           326 Housing Opportunity 2,582,203            ‐                           15,557                 2,597,760            47,400                 23,131                 2,574,629             336 New Library Development 456,591               ‐                           2,736                   459,327               ‐                           ‐                           459,327                346 New Family First Center Dvlpmnt 4,193,806            ‐                           62,748                 4,256,554            ‐                           128,290               4,128,264             ENTERPRISE FUNDS:86,123,144          93,422,362          34,464,166          120,587,310        146,260,193        30,815,920          89,771,390           4X2 Airport Operating & CIP 4,985,377            3,573,435            1,310,962            6,296,339            7,638,469            840,880               5,455,459             403 Solid Waste  Utility 2,276,333            19,505,719          7,661,105            9,937,438            19,341,752          8,351,336            1,586,102             4X4 Golf Operating & CIP 110,812               2,445,053            824,424               935,236               2,346,727            987,473               (52,237)                 4X5 Water Operating & CIP 38,002,973          18,841,192          6,751,649            44,754,622          48,759,844          5,564,467            39,190,155           4X6 Waste  Water Operating & CIP 18,879,201          11,582,615          4,872,223            23,751,424          24,716,488          3,933,695            19,817,729           416 King County Metro 5,512,418            16,922,613          7,174,136            12,686,554          16,922,613          7,025,508            5,661,046             4X7 Surface Water Operating & CIP 16,356,030          20,551,735          5,869,667            22,225,697          26,534,300          4,112,561            18,113,136           INTERNAL SERVICE FUNDS: 49,148,171          35,746,176          14,271,381          63,419,552          40,081,327          12,126,085          51,293,467           501 Equipment Repair/Replacement 6,493,018            7,689,395            2,298,742            8,791,760            9,024,476            1,855,336            6,936,424             502 Insurance 18,522,154          3,343,143            1,487,523            20,009,677          4,214,868            1,029,123            18,980,554           503 Information Services 3,934,408            6,044,888            2,265,218            6,199,626            7,545,964            2,269,370            3,930,256             504 Facilities 1,376,859            5,293,899            1,884,228            3,261,087            5,562,085            2,078,328            1,182,759             505 Communications 685,593               1,105,816            464,419               1,150,012            1,100,667            443,106               706,906                512 Insurance, Healthcare 4,259,511            11,027,762          4,655,953            8,915,464            11,655,086          4,134,561            4,780,903             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            1,215,298            15,091,926          978,181               316,261               14,775,665           FIDUCIARY FUNDS:7,146,983            468,000               191,997               7,338,980            210,475               82,747                 7,256,233             611 Firemen's  Pension 7,146,983            468,000               191,997               7,338,980            210,475               82,747                 7,256,233             TOTAL  FUNDS 231,910,616     279,863,253     127,947,097     359,857,713     367,756,464     88,861,150       270,996,563      City of Renton, Washington Page 15 of 15