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HomeMy WebLinkAbout201907, July h:\finance\financial reporting\monthly reports\2019 reports\cover 0719.docx  ADMINISTRATIVE SERVICES    M   E   M   O   R   A   N   D   U   M       DATE: September 30, 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: Misty Baker, Sr. Finance Analyst     SUBJECT: July 2019 Financial Status Report       At the end of July, general governmental revenues show $3.9M or 5.5% over budget.   Revenue source(s) that are higher than expected are:    sales tax  ‐ $269K (pg 3)   state shared revenues ‐ $789K (pg 9)   business & occupation taxes ‐ $937K (pg 6)   gambling taxes ‐ $505K (pg 5)   public safety services ‐ $113K (pg 9)   interest & other earnings ‐ $375K (pg 12)   fines and penalties (including photo enforcement) ‐ $679K (pg 11)   real estate excise tax ‐ $960K (pg 4)   business licensing ‐ $369K (pg 6)   other miscellaneous ‐ $241K (pg 12)  On the down side, the revenue source(s) that are underperforming the year to date  budget are:    utility taxes ‐ $391K (pg 4)   building permits & development service fees ‐ $432K (pg 7)   culture and recreation ‐ $380K (pg 10)   interfund services ‐ $413K (pg 10)    General government expenditures showed a favorable variance of $2.8M or 4.1%.  See  page 13 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 x6869 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 30, 2019    h:\finance\financial reporting\monthly reports\2019 reports\cover 0719.docx   This page is intentionally left blank  Page 1 of 17   General Governmental Funds $% Beginning Fund Balance 24,413,781$     24,413,781$    31,534,619$       31,534,619$      44,542,987$    44,542,987$ 44,542,987$    ‐                        0.0% OPERATING REVENUES Property Tax 19,714,626        10,181,000       17,838,993          7,776,766            20,885,254       11,040,072    11,126,587      86,514               0.8% Sales Tax 26,331,634        15,077,171       28,428,635          16,055,715         27,684,069       15,628,276    15,896,890      268,614            1.7% Sales Tax ‐ Annexation Credit/LRF 3,123,230           1,787,122          1,619,553             1,619,553             ‐                            ‐                         ‐                          ‐                        0.0% Criminal Justice Sales Tax 2,808,564           1,563,288          3,091,020             1,716,893            2,886,744          1,605,036       1,822,439         217,403            13.5% Natural Gas Use Tax 180,456                115,435               141,408                  99,575                   180,000               126,751            159,782             33,031               26.1% Admission Tax 223,157                175,220               225,466                  114,654                250,000               161,535            146,180             (15,355)               ‐9.5% Franchise Fees 1,562,100           1,137,272          1,508,915             1,127,328            1,526,500          1,125,658       1,098,582         (27,076)               ‐2.4% Electricity Tax 5,721,366           3,464,919          5,592,795             3,158,394            5,559,113          3,254,306       3,231,954         (22,353)               ‐0.7% Natural Gas Utility Tax 1,630,375           1,178,692          1,446,693             1,377,309            1,400,000          1,162,925       947,208             (215,717)            ‐18.5% Garbage/Solid Waste Tax 627,254                356,201               743,003                  427,686                680,000               389,010            471,369             82,359               21.2% TV Cable Tax 1,651,405           940,824               1,525,625             876,165                1,678,736          960,093            837,440             (122,653)            ‐12.8% Telephone Tax 866,519                564,873               830,975                  516,347                692,674               441,199            527,569             86,369               19.6% Cellular Phone Tax 1,481,298           940,094               1,159,489             764,817                1,551,630          1,001,743       447,866             (553,877)            ‐55.3% City Utilities Tax 4,840,530           2,847,704          4,925,046             2,919,110            4,500,000          2,657,361       2,979,389         322,028            12.1% Leasehold Excise Tax 173,396                88,358                  189,427                  89,479                   179,000               87,737               85,775                (1,961)                  ‐2.2% Gambling Excise Tax 2,695,368           1,533,322          2,831,045             1,717,847            2,000,000          1,176,593       1,681,463         504,870            42.9% Real Estate Excise Tax ‐                             ‐                            ‐                               ‐                            4,000,000          2,139,831       3,099,948         960,117            44.9% B&O Tax 9,633,034           7,345,843          10,689,216          9,019,798            8,000,000          6,750,578       7,687,774         937,196            13.9% Less: CIP B&O Tax (2,473,974)          (2,473,974)         (1,379,314)            (1,379,314)           ‐                            ‐                         ‐                          ‐                        0.0% Business License Fees 1,480,730           978,068               1,037,650             940,773                695,455               508,855            877,361             368,505            72.4% Less: CIP Business License Fees (614,796)              (431,193)             (356,629)                (355,760)                ‐                            ‐                         ‐                          ‐                        0.0% Animal Licenses and Spec Events Permits 140,391                97,159                  119,901                  82,264                   94,174                  58,903               83,536                24,633               41.8% Building Permits & Development Svc Fees 4,907,983           2,880,611          4,650,227             2,873,173            5,223,637          3,144,859       2,712,739         (432,120)            ‐13.7% Intergovt'l (Grants, State Shared, etc) 4,210,533           2,192,414          4,162,854             2,277,765            4,744,483          2,203,425       2,774,740         571,314            25.9% Public Safety 837,728                510,274               1,208,422             681,910                840,835               489,910            603,195             113,285            23.1% Culture and Recreation 1,722,323           1,051,172          1,509,375             1,009,414            1,834,691          1,169,831       789,716             (380,114)            ‐32.5% Interfund/Interdept‐Services 3,916,334           2,329,831          3,900,407             2,283,435            4,794,617          2,796,860       2,384,004         (412,856)            ‐14.8% Fines and Penalties 822,450                418,902               810,152                  428,510                976,345               495,810            394,573             (101,237)            ‐20.4% Photo Enforcement 2,124,399           1,167,915          3,463,040             1,305,491            3,431,405          1,518,989       2,299,342         780,353            51.4% Seizure Funds ‐ Federal/State/Local 176,503                159,974               349,134                  245,561                 ‐                            ‐                        43,600                43,600               100.0% Interests and Other Earnings 1,127,373           475,831               1,143,478             604,668                830,000               393,102            768,020             374,918            95.4% Rents, Leases, and Concessions 1,833,790           1,113,526          1,721,024             1,113,525            1,415,245          933,959            1,041,709         107,750            11.5% Contributions and Donations 177,919                98,558                  197,221                  86,625                   151,970               75,018               119,856             44,838               59.8% Other Miscellaneous 954,690                505,456               708,768                  392,768                753,987               417,422            658,896             241,474            57.8% Other Financing Sources (Transfer‐In, etc) 124,517                97,726                  (282,188)                13,000                   12,962,782       6,130,641       6,130,641          ‐                        0.0% Total Operating Revenues 104,733,207     60,469,590       105,750,828       61,981,243         122,403,346    70,046,287    73,930,142      3,883,855        5.5% OPERATING EXPENDITURES Council 362,101                216,595               377,512                  221,457                414,410               245,444            215,879             29,565               12.0% Executive 1,954,748           1,110,100          2,073,371             1,173,506            2,658,306          1,507,037       1,431,524         75,513               5.0% Emergency Management 569,333                314,737               590,655                  343,115                703,487               398,961            332,293             66,668               16.7% City Attorney 2,088,718           1,211,095          2,216,692             1,281,888            2,393,230          1,385,764       1,348,018         37,746               2.7% Court Services 2,174,217           1,252,041          2,222,633             1,308,186            2,657,710          1,547,549       1,375,877         171,672            11.1% Community and Eco Dvlpmnt Admin 1,351,830           781,490               1,347,568             785,314                1,595,626          926,145            833,224             92,921               10.0% Development Services 3,023,728           1,806,056          3,032,130             1,703,575            3,433,532          1,989,880       1,802,082         187,798            9.4% Economic Development 949,467                490,157               833,055                  404,143                2,255,127          1,131,407       534,115             597,292            52.8% Planning 2,815,148           1,570,361          3,022,122             1,714,367            3,346,673          1,883,228       1,727,439         155,789            8.3% Finance 3,132,609           1,565,684          3,427,262             1,720,649            3,606,382          1,806,709       1,743,804         62,905               3.5% City Clerk 1,093,072           664,329               1,236,228             829,257                1,301,087          834,279            795,245             39,034               4.7% Human Resources 1,221,841           699,070               1,268,733             734,589                1,550,649          892,606            808,288             84,318               9.4% Police 30,987,047        17,951,276       33,764,563          18,680,299         36,985,051       20,924,438    20,433,583      490,855            2.3% Jail Services 4,807,443           2,803,574          5,970,673             3,483,758            6,239,267          3,363,561       3,363,561          ‐                        0.0% Community Services Admin 1,421,803           678,006               1,522,994             751,375                1,577,176          765,549            704,171             61,378               8.0% Parks & Trails 4,926,587           2,625,262          5,026,203             2,763,478            5,411,908          2,930,178       2,907,795         22,383               0.8% Parks Planning & Natural Resources 1,059,058           554,297               1,114,153             604,217                2,495,194          1,330,160       822,341             507,820            38.2% Recreation & Neighborhoods 6,152,644           3,363,669          6,280,121             3,344,682            6,507,457          3,514,054       3,529,518         (15,465)               ‐0.4% Human Services 1,634,387           754,865               1,421,280             829,262                1,507,974          781,768            788,542             (6,774)                  ‐0.9% Museum 235,712                135,354               245,590                  143,077                252,298               145,953            149,027             (3,074)                  ‐2.1% Public Works Admin 406,781                237,592               417,786                  248,162                425,954               250,930            248,487             2,443                  1.0% Street Maintenance 5,603,141           3,319,755          5,676,989             3,166,956            5,894,373          3,389,597       3,292,059         97,538               2.9% Transportation 5,368,887           2,953,908          5,550,779             3,201,311            6,194,559          3,491,761       3,418,505         73,256               2.1% Non‐Departmental and Other 14,245,763        1,892,140          4,064,656             1,762,393            31,298,207       13,464,089    13,464,089       ‐                        0.0% Total Operating Expenditures 97,612,369        48,967,203       92,742,459          51,215,163         130,745,636    68,920,695    66,085,732      2,834,963        4.1% Total Ending Fund Balance 31,534,619$     35,916,169$    44,542,987$       42,300,698$      36,200,697$    45,668,579$ 52,387,397$   6,718,818$     14.7% Favorable (Unfavorable) 2017 2018 2019 Variance Annual Actual YTD Actual Annual Budget YTD Budget YTD ActualSummary of Sources and Uses Annual Actual YTD Actual   Monthly Financial Report July 2019  Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 2 of 17   OVERVIEW  This financial overview reflects the City’s overall financial position for the fiscal year through July 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 funds  revenues and expenditures.    Beginning in July some changes were made that will affect the comparability of this report to prior reports. Those changes  are summarized as follows:     The debt service funds have been removed from the general governmental funds and the leased city properties fund  has been added to the general governmental funds. These changes were made to bring the budgetary fund structure  in line with the GAAP reporting fund structure.   The practice of allocating property taxes, B&O tax, and REET revenues across multiple funds has been discontinued.   100% of these revenues are now recognized in the general fund and transfers will be processed to the other funds  for the portion of revenues previously allocated. This change was made to bring our accounting practices in line with  current best practices.    REVENUES    Taxes     The combined collection of property, sales/use, utility, gambling, admissions, real estate excise, and business & occupation  taxes represents 71% of all resources supporting general governmental activities.  The following section provides detail  information on property, sales, utility, and other taxes.    Property Tax  The 2019 property tax levy is $878K more than 2018, which comprises the majority of increased collections over the prior  year. Also included in 2019 revenue are some collections of previous years’ property taxes that were not collected in the year  they were levied. Year‐to‐date collections are 1% higher than budget. The City is projecting property tax revenues to be  slightly over $21M by the end of the year.    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            66,419               (42,423)               ‐39% (46,861)               ‐41% Jul 90,072               76,102               52,146               (37,926)               ‐42% (23,956)               ‐31% 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 10,286,562$  11,040,072$  11,126,587$  840,025$         8% 86,514$            1% Annual Total 19,463,461$  20,885,254$   Property Tax Revenues Year to Date through July 2019 vs. 2018 2019 vs. Budget Month              Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 3 of 17   Sales Tax  While sales tax revenues have declined 1% from 2018, New Construction, Auto Sales, Manufacturing, Wholesale, and Service  sectors are generating and collecting more sales tax revenue than anticipated. The City is projecting sales tax revenues to be  about $28.2M by the end of the year.    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        2,060,512        62,761               3%(44,730)               ‐2% Jul 2,385,665        2,245,590        2,342,886        (42,779)               ‐2%97,296               4% 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 16,055,715$  15,628,276$  15,896,890$  (158,824)$         ‐1%268,614$         2% Annual Total 28,428,635$  27,684,069$   2019 vs. Budget2019 vs. 2018 Month Year to Date through July Local Retail Sales Tax Revenues     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 2,595,496$     2,201,865$     2,278,670$     (316,826)$         ‐12% $           76,805 3% Auto Sales 2,925,929        2,933,693        2,981,522        55,593                2%               47,830 2% General Retail 4,477,062        4,589,218        4,549,613        72,551                2%             (39,605)‐1% Manufacturing 1,045,621        1,133,140        1,170,034        124,413             12%               36,894 3% Wholesale 780,600            797,136            859,888            79,288                10%               62,752 8% Service 3,838,744        3,564,706        3,672,262        (166,482)            ‐4%            107,556 3% Other 392,262            408,518            384,901            (7,361)                  ‐2%             (23,617)‐6% YTD Total 16,055,715$  15,628,276$  15,896,890$  (158,824)$        ‐1%268,614$        2% Note: Excludes Annexation Credit and Criminal Justice Sales Tax revenue.      Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 4 of 17   Utility tax   Utility tax revenues are underperforming in comparison to both 2018 and budget. Taxpayer changes to their method of  accounting for data charges (non‐taxable) has resulted in decreased taxable activity for cellular utilities. The City is projecting  utility tax revenues to be about $15.6M by the end of the year.     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        1,200,729        (68,873)               ‐5% (81,719)               ‐6% Jul 1,398,960        1,415,513        1,352,732        (46,228)               ‐3% (62,781)               ‐4% 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 10,139,403$  9,993,389$     9,602,577$     (536,826)$         ‐5% (390,812)$         ‐4% Annual Total 16,365,034$  16,242,153$   2019 vs. Budget2019 vs. 2018 Year to Date through July Utility Tax Revenues Month     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 3,158,394$     3,254,306$     3,231,954$     73,560$             2% $         (22,353)‐1% Natural Gas 1,476,884        1,289,676        1,106,990        (369,894)            ‐25%          (182,686)‐14% Cell 764,817            1,001,743        447,866            (316,951)            ‐41%          (553,877)‐55% Phone 516,347            441,199            527,569            11,221                2%               86,369 20% Cable 876,165            960,093            837,440            (38,725)               ‐4%          (122,653)‐13% Garbage/Solid Waste 427,686            389,010            471,369            43,683                10%               82,359 21% City Utilities 2,919,110        2,657,361        2,979,389        60,279                2%            322,028 12% YTD Total 10,139,403$  9,993,389$     9,602,577$     (536,826)$        ‐5%(390,812)$       ‐4% Annual Total 16,365,034$  16,242,153$      Real Estate Excise Tax  REET collections through July are behind 2018 figures by 20%, but are 45% higher than anticipated. The City is projecting REET  to be about $5.6M at the end of the year.    2018 2019 2019 Actual Budget Actual $ % $ % Jan 840,316$         497,448$         748,462$         (91,854)$            ‐11%251,014$         50% Feb 366,011            187,141            219,686            (146,325)            ‐40%32,545               17% Mar 291,045            266,167            272,006            (19,039)               ‐7%5,839                  2% Apr 405,746            210,626            430,070            24,324               6% 219,444            104% May 607,431            264,465            456,154            (151,277)            ‐25%191,689            72% Jun 496,917            331,264            444,031            (52,886)               ‐11%112,767            34% Jul 846,631            382,720            529,539            (317,092)            ‐37%146,819            38% Aug 406,944            287,310             Sep 451,349            288,857             Oct 1,716,905       552,822             Nov 976,580            466,319             Dec 409,249            264,861             YTD Total 3,854,097$    2,139,831$     3,099,948$     (754,149)$         ‐20%960,117$         45% Annual Total 7,815,124$    4,000,000$      *Total REET (GF, DS, & CIP) Month 2019 vs. Budget2019 vs. 2018 Real Estate Excise Tax (REET) Revenues* Year to Date through July   Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 5 of 17   Gambling Tax  Gambling tax revenue is 2% behind 2018, but is 43% above budget.  The City is projecting gambling tax revenues to be  about $2.9M at the end of the year.     2018 2019 2019 ActualBudgetActual $%$% 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                 282,406            29,743               12% 106,686            61% Jul 255,351            175,771                 261,167            5,816                  2% 85,395               49% 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 1,717,847$     1,176,592.85$  1,681,463$     (36,384)$            ‐2%504,870$         43% Annual Total 2,831,045$     2,000,000$          2019 vs. 2018 Gambling Tax Revenue Month Year to Date through July 2019 vs. Budget     Admission Tax   Admission taxes are 27% higher than 2018, but 10% lower than expected at the end of July. The City is projecting admissions  tax revenues to be around $226K by the end of the year.    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                               ‐                        (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                            ‐                         ‐                        (438)                      Jul ‐                        28,454                    58,073               58,073               100% 29,618               104% Aug 62,959               35,964                     ‐                         Sep ‐                         ‐                              ‐                         Oct 46,297               26,750                     ‐                         Nov 1,556                  867                            ‐                         Dec ‐                        24,884                     ‐                         YTD Total 114,654$         161,535$              146,180$         31,526$            27%(15,355)$            ‐10% Annual Total 225,466$         250,000$               2019 vs. Budget Admission Tax Revenue Year to Date through July Month 2019 vs. 2018        Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 6 of 17   Business & Occupation Tax  B&O taxes are $1.3M less than 2018, but are $900k more than budget. The City is projecting B&O taxes to be about $9.1M  by the end of the year.     2018 2019 2019 Actual Budget Actual $ % $ % Jan 1,301,574$     974,121$         919,391$         (382,183)$         ‐29% (54,730)$            ‐6% Feb 1,013,630        758,618            1,317,771        304,141            30% 559,152            74% Mar 48,278               36,132               105,983            57,705               120% 69,851               193% Apr 5,430,049        4,063,945        583,109            (4,846,940)       ‐89% (3,480,836)       ‐86% May 212,741            159,219            4,272,007        4,059,266        1908% 4,112,788        2583% Jun 172,687            129,242            11,365               (161,321)            ‐93% (117,876)            ‐91% Jul 840,839            629,299            478,148            (362,691)            ‐43% (151,151)            ‐24% Aug 451,217            337,699             ‐                         Sep 12,193               9,125                   ‐                         Oct 572,637            428,572             ‐                         Nov 632,346            473,259             ‐                         Dec 1,026                  768                        ‐                         YTD Total 9,019,798$     6,750,578$     7,687,774$     (1,332,024)$    ‐15%937,196$         14% Annual Total 10,689,216$  8,000,000$      *Total Business & Occupation Taxes (GF & CIP) Business & Occupation Taxes (B&O)* Year to Date through July Month 2019 vs. 2018 2019 vs. Budget      Licenses and Permits    Business Licenses  Business license collections are 7% behind 2018 through the end of July, but are 72% above budget. The City is projecting  business license collections to be just under $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               21,894               (8,828)                  ‐29%1,017                  5% Jul 16,354               64,859               15,985               (369)                      ‐2% (48,874)               ‐75% 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 940,773$         508,855$         877,361$         (63,412)$            ‐7%368,505$         72% Annual Total 1,037,650$     695,455$          *Total Business License (GF & CIP) Business Licenses* Month 2019 vs. 2018 Year to Date through July 2019 vs. Budget          Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 7 of 17   Building Permits and Development Service Fees  Building permits and development service fees are underperforming compared to 2018 and budget. The City is projecting  these fees to be around $4.4M by the end of the year. See below for detail on the two major components of building  permits and development service fees.    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            473,880            110,359            30%(58,641)               ‐11% Jul 484,920            410,225            435,839            (49,081)               ‐10%25,614               6% 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 2,873,173$     3,144,859$     2,712,739$     (160,435)$         ‐6% (432,120)$         ‐14% Annual Total 4,650,227$     5,223,637$      Building Permits and Development Service Fees Year to Date through July 2019 vs. Budget2019 vs. 2018 Month     Plan review fees are collected upon permit application. Through the end of July, plan review fees are 17% above 2018 and  8% above budget. The City is projecting plan review fees to be around $1.6M by the end of the year.    2018 2019 2019 Actual Budget Actual $ % $ % Jan 124,370$         160,367$         112,214$         (12,156)$            ‐10% (48,154)$            ‐30% Feb 92,996               96,154               155,529            62,534               67% 59,375               62% Mar 107,563            119,371            97,298               (10,265)               ‐10% (22,073)               ‐18% Apr 118,376            109,329            139,272            20,896               18% 29,943               27% May 144,264            154,123            165,039            20,775               14% 10,916               7% Jun 135,355            162,408            150,616            15,261               11% (11,792)               ‐7% Jul 109,935            102,673            153,309            43,374               39% 50,635               49% Aug 97,574               91,109                ‐                        0% 0% Sep 104,291            107,256             ‐                        0% 0% Oct 203,541            179,954             ‐                        0% 0% Nov 117,168            144,442             ‐                        0% 0% Dec 73,600               99,851                ‐                        0% 0% YTD Total 832,858$         904,424.99$  973,276$         140,418$         17% 68,851$            8% Annual Total 1,429,032$     1,527,038$      Plan Review Year to Date through July Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 8 of 17   Building permit fees are collected upon permit issuance. Through the end of July, they are underperforming in comparison  to both 2018 and budget. The City is projecting building permit fees to be around $2.9M by the end of the year.     2018 2019 2019 Actual Budget Actual $ % $ % Jan 190,257$         228,058$         205,252$         14,995$            8%(22,806)$           ‐10% Feb 187,749            208,518            242,212            54,463               29% 33,694               16% Mar 480,963            479,474            241,022            (239,941)           ‐50%(238,452)           ‐50% Apr 285,516            256,516            209,629            (75,887)              ‐27%(46,887)              ‐18% May 292,678            390,203            235,553            (57,125)              ‐20%(154,650)           ‐40% Jun 228,166            370,113            323,264            95,098               42%(46,849)              ‐13% Jul 374,985            307,552            282,530            (92,455)              ‐25%(25,021)              ‐8% Aug 313,662            372,012             ‐                        0% 0% Sep 238,009            324,031             ‐                        0% 0% Oct 249,776            250,502             ‐                        0% 0% Nov 180,299            279,068             ‐                        0% 0% Dec 199,134            230,185             ‐                        0% 0% YTD Total 2,040,315$     2,240,434$     1,739,463$     (300,852)$        ‐15%(500,971)$        ‐22% Annual Total 3,221,195$     3,696,231$      Building Permits Year to Date through July Month 2019 vs. 2018 2019 vs. Budget     Franchise Fees  Franchise fees are underperforming in comparison to both 2018 and budget. The City is projecting franchise fees to be slightly  under $1.5M at the end of the year.    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                    14,400               13,350               1271% 3,278                  29% Jul 344,386            341,360                 337,436            (6,950)                  ‐2% (3,924)                  ‐1% 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 1,127,328$     1,125,658$         1,098,582$     (28,746)$            ‐3% (27,076)$            ‐2% Annual Total 1,508,915$     1,526,500$          Franchise Fees Revenue Year to Date through July Month 2019 vs. 2018 2019 vs. Budget        Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 9 of 17   Intergovernmental    These revenue sources include state shared revenues and governmental grants. State shared revenues comprise 94% of the  City’s total intergovernmental revenues.     Intergovernmental 2018 2019 Bgt YTD Act Change 2019/2018  2019 Act vs Bgt  State Shared Revenue 3,855,827        3,545,172        4,333,889        478,062             12% 788,718           22% Federal Grants 56,404               46,128               46,128               (10,277)               ‐18%‐                             0% State Grants 22,679               21,596               21,596               (1,083)                  ‐5%‐                             0% Other Grants/Intgovt 59,748               195,566            195,566            135,818             227%‐                             0% Total Rev YTD 3,994,658$     3,808,461$     4,597,179$     602,520$          15%788,718$        21% Total Rev Annual 7,680,968$     7,631,227$         State Shared Revenues  State shared revenues are over performing in comparison to both 2018 and budget. The City is projecting state shared  revenues to be around $7.5M by the end of the year.     2018 2019 2019 Actual Budget Actual $ % $ % Crim Just Sales Tax 1,716,893$     1,605,036$     1,822,439$     105,546$         6% 217,403$         14% Judicial Contribution 11,025               8,466                  16,248               5,223                  47% 7,782                  92% Crim Just ‐ High Crime 210,584            205,380            218,646            8,063                  4% 13,267               6% Crim Just ‐ Pop 22,168               18,409               23,191               1,023                  5% 4,782                  26% Crim Just ‐ Spec Prog 80,183               82,117               83,510               3,327                  4% 1,393                  2% State DUI 11,387               13,349               11,038               (349)                      ‐3% (2,310)                  ‐17% Marijuana Distribution 161,067             ‐                        105,527            (55,540)               ‐34%105,527            100% Liquor Profits 425,526            425,085            424,360            (1,166)                 0% (725)                     0% Liquor Excise Tax 378,373            357,272            416,253            37,880               10% 58,981               17% Fuel Tax 838,622            830,059            1,212,677        374,055            45% 382,618            46% YTD Total 3,855,827$     3,545,172$     4,333,889$     478,062$         12% 788,718$         22% Annual Total 6,710,599$     6,182,479$      2019 vs. Budget State Shared Revenues 2019 vs. 2018 Revenue Year to Date through July     Charges for Services     Public Safety Services  Public Safety Services are comprised mostly of fees related to probation and sentence monitoring, record checks, school  resource officers, private security, and electronic home detention. These fees are 12% below 2018, but 23% above budget.  The City is projecting public safety services to be around $1M by the end of the year.    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               85,644               844                       1% 32,973               63% Jul 92,695               62,686               63,635               (29,060)               ‐31%949                       2% 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 681,910$         489,910$         603,195$         (78,715)$            ‐12%113,285$         23% Annual Total 1,208,422$     840,835$          Year to Date through July Public Safety Services 2019 vs. 2018 2019 vs. Budget Month   Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 10 of 17   Recreation  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 on the first day of the program. 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 close to budget by the  end of the year.    2018 2019 2019 Actual Budget Actual $ % $ % Jan 138,388$         165,057$         63,819$            (74,569)$            ‐54% (101,238)$         ‐61% Feb 51,694               51,177               81,045               29,351               57% 29,868               58% Mar 55,300               68,535               97,206               41,907               76% 28,672               42% Apr 70,321               82,391               75,539               5,219                  7%(6,852)                  ‐8% May 82,814               94,920               97,107               14,293               17% 2,187                  2% Jun 191,108            195,529            84,351               (106,757)            ‐56% (111,177)            ‐57% Jul 419,790            512,222            290,648            (129,141)            ‐31% (221,574)            ‐43% Aug 313,627            395,088             ‐                         Sep 76,421               120,298             ‐                         Oct 72,092               68,810                ‐                         Nov 37,924               54,639                ‐                         Dec (104)                     26,025                ‐                         YTD Total 1,009,414$     1,169,831$     789,716$         (219,698)$         ‐22% (380,114)$         ‐32% Annual Total 1,509,375$     1,834,691$      Recreation Year to Date through July 2019 vs. Budget2019 vs. 2018 Month     Interfund Services  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 majority  of the variance is due to Parks Planning and Natural Resource division not receiving budgeted reimbursement for salaries and  benefits of vacant capital project coordinator positions. The City is projecting interfund service revenues to be $4.1M at year‐ end.    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            334,732            13,996               4%(64,820)               ‐16% Jul 236,427            399,551            302,849            66,422               28%(96,702)               ‐24% 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 2,283,435$     2,796,860$     2,384,004$     100,569$         4%(412,856)$         ‐15% Annual Total 3,900,407$     4,794,617$      Interfund Services Year to Date through July 2019 vs. 2018 2019 vs. Budget Month        Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 11 of 17   Fines and Penalties    These revenue sources contain civil (penalties, infractions, and parking), criminal (traffic, non‐traffic, and costs), and non‐ court fines, forfeitures, and penalties (NSF charges, false alarms, code enforcement, and other miscellaneous penalties).  The  City is projecting these revenues to be around $5.9M by the end of the year.    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            401,342            166,031            71% 76,046               23% Jul 451,443            428,149            445,371            (6,072)                  ‐1%17,221               4% 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 1,734,001$     2,014,799$     2,693,916$     959,915$         55% 679,116$         34% Annual Total 4,273,192$     4,407,750$      2019 vs. Budget2019 vs. 2018 Year to Date through July Fines and Penalties by Month Month     The table below breaks down these fines by type.      2018 2019 2019 Actual Budget Actual $ % $ % Civil Penalties 851$                    1,178$               705$                    (146)$                   ‐17% (473)$                   ‐40% Civil Infraction Penalties 180,466            175,872            150,289            (30,177)               ‐17% (25,583)               ‐15% Civil Parking Infraction Penalties 90,076               145,638            87,953               (2,123)                  ‐2% (57,685)               ‐40% Photo Enforcement Program 1,305,491        1,518,989        2,299,342        993,851            76% 780,353            51% Criminal Traffic Misdemeanor Fines 39,721               42,953               32,874               (6,847)                  ‐17% (10,079)               ‐23% Criminal Non‐Traffic Fines 45,127               17,863               50,710               5,583                  12% 32,847               184% Criminal Costs 50,924               13,199               45,766               (5,158)                  ‐10%32,567               247% Non‐Court Fines, Forfeitures and Penalties 21,346               99,107               26,276               4,931                  23%(72,830)               ‐73% YTD Total 1,734,001$     2,014,799$     2,693,916$     959,915$         55% 679,116$         34% Annual Total 4,273,192$     4,407,750$      Revenue 2019 vs. Budget2019 vs. 2018        Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 12 of 17   Included in the Fines and Penalties annual revenue budget is $3.4M from the Photo Enforcement program. The monthly  budget is based on the prior year’s revenue. The associated costs include the equipment provided by American Traffic  Solutions, Inc. (ATS), dedicated 2 FTE in the Court Services Department to process the increased caseload.     Favorable 19 Budget 19 Actual 2019 vs. 2018 17 Actual 18 Actual 19 Budget 19 Actual (Unfavorable) 1 Jan 162,639$         214,193$         57% 30,160$            25,705$         126,219$         28,745$            185,448$          Feb 187,840            285,643            85% 97,928               93,460            126,219            128,014            157,629             Mar 199,988            399,499            123% 97,914               93,469            126,219            128,001            271,498             Apr 174,391            387,303            215% 97,920               93,469            126,219            128,011            259,292             May 212,936            280,350            63% 97,917               93,463            126,219            128,010            152,340             Jun 231,485            344,616            122% 97,911               93,460            126,219            28,745               315,871             Jul 349,711            387,738            1% 97,917               25,705            126,219            28,745               358,993             Aug 442,497             ‐                        0% 97,932               115,458         126,219             ‐                         ‐                         Sep 341,229             ‐                        0% 97,923               115,466         126,219             ‐                         ‐                         Oct 439,665             ‐                        0% 97,920               115,469         126,219             ‐                         ‐                         Nov 354,895             ‐                        0% 97,920               124,973         126,219             ‐                         ‐                         Dec 334,129             ‐                        0% 165,673            224,231         126,219             ‐                         ‐                         YTD Total 1,518,989$     2,299,342$     617,668$         518,729$      883,530$         598,271$         1,701,071$      Annual Total 3,431,405$     1,175,038$    1,214,324$  1,514,623$      ExpensesRevenues Photo Enforcement Program Year to Date through July Month     Miscellaneous    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. Miscellaneous revenues are over performing in  comparison to both 2018 and budget. The City is projecting miscellaneous revenues to be around $3.6M by the end of the  year.  2018 2019 2019 Actual Budget Actual $ % $ % Jan 262,690$         431,194$         376,642$         113,953$         43%(54,551)$            ‐13% Feb 150,608            129,991            333,287            182,679            121% 203,297            156% Mar 178,170            166,842            272,907            94,737               53% 106,065            64% Apr 152,700            172,252            283,126            130,426            85% 110,874            64% May 386,715            160,726            281,523            (105,192)            ‐27%120,797            75% Jun 193,674            234,919            307,742            114,068            59% 72,823               31% Jul 221,279            275,529            302,051            80,772               37% 26,522               10% Aug 275,725            289,735             Sep 164,873            187,100             Oct 200,817            181,451             Nov 174,068            147,082             Dec 305,276            280,516             YTD Total 1,545,836$     1,571,453$     2,157,279$     611,443$         40% 585,826$         37% Annual Total 2,666,594$     2,657,337$      Year to Date through July Month 2019 vs. Budget2019 vs. 2018 Miscellaneous Revenues by Month     The table below shows the composition of miscellaneous revenues by type.    2018 2019 2019 Actual Budget Actual $ % $ % Interests and Other Earnings 622,580$         393,102$         768,020$         145,439$         23% 374,918$         95% Rents, Leases, and Concessions 444,241            933,959            1,041,709        597,468            134% 107,750            12% Contributions/Donations from Private Sources 86,625               75,018               119,856            33,231               38% 44,838               60% Other 146,828            169,375            184,094            37,266               25% 14,720               9% Seizure Funds ‐ Federal/State/Local 245,561             ‐                        43,600               (201,962)            ‐82%43,600               100% YTD Total 1,545,836$     1,571,453$     2,157,279$     611,443$         40% 585,826$         37% Annual Total 2,666,594$     2,657,337$      2019 vs. Budget Miscellaneous Revenues by Type Year to Date through July Revenue 2019 vs. 2018   Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 13 of 17   EXPENSES    Overall, the City has expended 50.5% of its budgeted general governmental expenditures at the end of July.  This is $2.8M or  4.1% below year‐to‐date budgeted expenditures.      The Recreation & Neighborhoods division is over the year‐to‐date budget by $15K or .4%. There is not a specifically  identifiable reason for the overage; it is a combination of small things. We will continue to monitor this in conjunction with  Recreation management. Recreation program activity slows in the fall and winter months, which allows for conservative  spending where needed to manage the budget. The City is not projecting Recreation & Neighborhoods to be over budget at  the end of the year.    The Human Services division is over the year‐to‐date budget by $7K or .9%. This is due to the timing of CDBG funded Healthy  Housing projects. The City is not projecting Human Services to be over budget at the end of the year.    The Museum is over the year‐to‐date budget by $3K or 2.1%. This is due to the increased use/cost of part‐time staff. Use of  part‐time staff is variable depending on staffing needs and is easily managed. The City is not projecting the Museum to be  over budget at the end of the year.                                                                       Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 14 of 17   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.    Airport Golf Course Solid Waste  Utility Water Utility Wastewater  Utility Surface Water  Utility Metro REVENUES: Licenses and permits ‐                  ‐                  ‐                  ‐                 71,175            31,100             ‐                  Grants / intergovernmental 49,750             ‐                 167,153           ‐                  ‐                 705,990           ‐                  Charges for services 180,319          1,222,347       11,365,809     9,526,548       6,284,247       6,977,688       9,994,800        Interdepartmental services ‐                  ‐                  ‐                  ‐                  ‐                  ‐                  ‐                  Fines and penalties 617                  ‐                  ‐                  ‐                 481                  ‐                  ‐                  Rents, leases, and misc fees 1,590,095       272,148           ‐                 116,412           ‐                  ‐                  ‐                  Interest and other misc 44,737            5,098              19,648            546,691          452,984          294,047          50,061             TOTAL REVENUES 1,865,518       1,499,593       11,552,610     10,189,651     6,808,887       8,008,825       10,044,861      EXPENSES: Utility billing ‐                  ‐                 24,744            92,964            75,391            113,658           ‐                  Utility systems ‐                  ‐                 10,583,641     2,536,970       2,263,996       2,108,714        ‐                  Utility maintenance ‐                  ‐                 224,837          3,429,033       1,267,245       1,811,176       9,847,748        Transportation 1,139,518        ‐                  ‐                  ‐                  ‐                  ‐                  ‐                  Golf ‐                 1,394,311        ‐                  ‐                  ‐                  ‐                  ‐                  TOTAL EXPENSES 1,139,518       1,394,311       10,833,222     6,058,967       3,606,632       4,033,548       9,847,748        AMOUNT AVAILABLE FOR DEBT  SERVICE 726,000          105,282          719,389          4,130,684       3,202,255       3,975,277       197,113           DEBT SERVICE: Principal ‐                  ‐                  ‐                 345,818           ‐                  ‐                  ‐                  Interest ‐                  ‐                  ‐                 111,973          47,859            359,418           ‐                  TOTAL DEBT SERVICE ‐                  ‐                  ‐                 457,791          47,859            359,418           ‐                  CAPITAL PROJECTS 100,590          14,140             ‐                 1,857,665       2,174,862       1,469,155        ‐                  TRANSFERS IN/(OUT)‐                  ‐                  ‐                  ‐                 27,588            5,994               ‐                  CHANGE IN FUND BALANCE 625,410          91,142            719,389          1,815,228       1,007,122       2,152,698       197,113           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, Jul 31 5,610,787       201,954          2,995,722       39,818,201     19,886,323     18,508,728     5,709,531              Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 15 of 17   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 ‐               194,456        ‐                ‐                        ‐                ‐                ‐                Grants / intergovernmental ‐                ‐                ‐                ‐                        ‐                ‐               35,898          Charges for services Equipment rental m&o 1,428,178    2,897,202     ‐                ‐                        ‐                ‐                ‐                Print and mail ‐                ‐                ‐               260,691                ‐                ‐                ‐                Communications ‐               1,462            ‐               383,765                ‐                ‐                ‐                Facilities ‐                ‐               2,511,416     ‐                        ‐                ‐                ‐                Data cards and cell phones ‐                ‐                ‐                ‐                        ‐                ‐                ‐                IT service contracts ‐                ‐                ‐                ‐                        ‐                ‐                ‐                Interest and other misc 51,341         31,985         10,325         5,490                   150,626       35,849         116,299        Internal service fund misc: Vehicle / equipment capital recovery 1,685,920     ‐                ‐                ‐                        ‐                ‐                ‐                Insurance premiums ‐                ‐                ‐                ‐                       985,050        ‐                ‐                Worker's comp/unemployment ‐                ‐                ‐                ‐                       839,078        ‐                ‐                Benefit premiums ‐                ‐                ‐                ‐                        ‐               5,908,796    1,531,064     Other misc 4,466           670              86,481         425                       ‐               591,870        ‐                Interfund Loan ‐                ‐                ‐                ‐                        ‐                ‐                ‐                Capital  contributions ‐                ‐                ‐                ‐                        ‐                ‐                ‐                Disposal of capital assets 57,551          ‐                ‐                ‐                        ‐                ‐                ‐                Insurance recoveries ‐                ‐                ‐                ‐                       118,510        ‐                ‐                TOTAL REVENUES 3,227,456    3,125,775    2,608,222    650,371               2,093,264    6,536,515    1,683,261     EXPENSES: Communications 328,146                Equipment rental 1,676,506     Facilities 2,798,165     Healthcare 5,649,277     Information technology 3,044,840     Print and mail 262,719                Retiree healthcare 494,945        Risk management: Risk management 1,154,269     Unemployment 40,342          Worker's compensation 474,736        TOTAL EXPENSES 1,676,506    3,044,840    2,798,165    590,865               1,669,347    5,649,277    494,945        AMOUNT AVAILABLE FOR CAPITAL 1,550,950    80,935         (189,942)      59,506                 423,917       887,238       1,188,316     CAPITAL PROJECTS 1,117,372    102,681       10,901          ‐                        ‐                ‐                ‐                TRANSFERS IN ‐               38,539         12,389          ‐                        ‐                ‐                ‐                TRANSFERS (OUT)‐                ‐               (5,220)           ‐                        ‐                ‐                ‐                CHANGE IN FUND BALANCE 433,578       16,793         (193,675)      59,506                 423,917       887,238       1,188,316     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, Jul 31 6,926,596    3,951,201    1,183,184    745,099               18,946,071  5,146,749    15,064,944   Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 16 of 17   FUND BALANCE  Page 17 shows the ending fund balance as of July 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 July, the City has $52.4M reported in the combined general governmental fund balance of the current year’s  operating budget, which is approximately 40.1% of budgeted operating expenditures.  This is an increase of $7.8M from the  year’s beginning balance.  July’s ending fund balance is over the anticipated General Governmental Fund Balance of $45.7M  by $6.7M or 14.7%.  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 mbaker@rentonwa.gov or jhawn@rentonwa.gov.  Monthly Financial Report                                                               City of Renton, Washington July 2019  Page 17 of 17   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through July 31, 2019 Funds Balance  01/01/2019 Budgeted  Revenue Revenue  07/31/19 Total Funds  Available Budgeted  Expenditure Expenditure  07/31/19 Ending Balance GENERAL FUND: 44,542,987          122,403,346        73,930,142          118,473,129        130,745,637        66,085,732          52,387,397           SPECIAL REVENUE FUNDS: 1,875,558            1,120,674            382,962               2,258,520            1,412,904            404,305               1,854,215             102 Arterial Street 163,671               700,000                ‐                           163,671               700,000               163,671                ‐                            110 Hotel Motel 722,387               225,000               270,756               993,143               406,547               159,155               833,988                125 Municipal Art 119,446               98,000                 760                      120,206               200,683               50,683                 69,523                  127 Cable Communication 529,159               97,674                 108,783               637,942               105,674               30,796                 607,146                135 Springbrook Wetlands Bank 340,895                ‐                           2,663                   343,558                ‐                            ‐                           343,558                DEBT SERVICE FUND: 2,307,173            7,805,569            4,028,482            6,335,655            7,914,936            962,949               5,372,706             CAPITAL PROJECT FUNDS (CIP): 39,310,931          66,827,984          28,374,862          67,685,793          87,183,116          10,343,684          57,342,109           303 Community Services Mitigation 2,578,256            86,500                 263,863               2,842,119            1,629,000             ‐                           2,842,119             305 Transportation Mitigation 3,332,524            1,020,000            674,739               4,007,263            2,700,000             ‐                           4,007,263             316 Municipal Facilities CIP 20,675,238          23,354,715          15,488,010          36,163,248          41,657,287          7,551,942            28,611,306           317 Transportation CIP 5,492,313            37,291,769          11,850,073          17,342,386          41,036,073          2,558,394            14,783,992           326 Housing Opportunity 2,582,203             ‐                           21,576                 2,603,779            47,400                 40,488                 2,563,291             336 New Library Development 456,591                ‐                           2,618                   459,209                ‐                            ‐                           459,209                346 New Family First Center Dvlpmnt 4,193,806            5,075,000            73,983                 4,267,789            113,356               192,860               4,074,929             ENTERPRISE FUNDS: 86,123,144          93,153,914          50,046,679          136,169,823        146,588,143        43,438,577          92,731,246           4X2 Airport Operating & CIP 4,985,377            3,298,685            1,865,517            6,850,894            7,907,470            1,240,107            5,610,787             403 Solid Waste Utility 2,276,333            19,512,021          11,552,611          13,828,944          19,400,701          10,833,222          2,995,722             4X4 Golf Operating & CIP 110,812               2,445,053            1,541,594            1,652,406            2,346,727            1,450,452            201,954                4X5 Water Operating & CIP 38,002,973          18,841,192          10,189,650          48,192,623          48,759,844          8,374,422            39,818,201           4X6 Waste Water Operating & CIP 18,879,201          11,582,615          6,837,243            25,716,444          24,716,488          5,830,121            19,886,323           416 King County Metro 5,512,418            16,922,613          10,044,861          15,557,279          16,922,613          9,847,748            5,709,531             4X7 Surface Water Operating & CIP 16,356,030          20,551,735          8,015,203            24,371,233          26,534,300          5,862,505            18,508,728           INTERNAL SERVICE FUNDS: 49,148,171          35,770,284          19,975,793          69,123,964          40,045,617          17,160,120          51,963,844           501 Equipment Repair/Replacement 6,493,018            7,695,395            3,227,456            9,720,474            9,030,476            2,793,878            6,926,596             502 Insurance 18,522,154          3,343,143            2,093,263            20,615,417          4,214,868            1,669,346            18,946,071           503 Information Services 3,934,408            6,054,593            3,164,314            7,098,722            7,558,374            3,147,522            3,951,200             504 Facilities 1,376,859            5,302,302            2,620,611            3,997,470            5,507,965            2,814,286            1,183,184             505 Communications 685,593               1,105,816            650,371               1,335,964            1,100,667            590,866               745,098                512 Insurance, Healthcare 4,259,511            11,027,762          6,536,516            10,796,027          11,655,086          5,649,277            5,146,750             522 Insurance, Leoff1 Retirees HC 13,876,628          1,241,273            1,683,262            15,559,890          978,181               494,945               15,064,945           FIDUCIARY FUNDS: 7,146,983            468,000               204,904               7,351,887            210,475               112,210               7,239,677             304 Fire Mitigation 1,455,669            99,000                 88,569                 1,544,238            128,576                ‐                           1,544,238             611 Firemen's Pension 7,146,983            468,000               204,904               7,351,887            210,475               112,210               7,239,677             TOTAL FUNDS 231,910,616     327,648,771     177,032,393     408,943,009     414,229,404     138,507,577     270,435,432