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HomeMy WebLinkAboutMONTH 2020 02Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through February 29,  2020. A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s  financial management policies.     GENERAL FUND  The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund  is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation,  human services, municipal court, street maintenance and planning, economic development, and administrative functions.  The table below displays the year‐to‐date revenues and expenditures for the General Fund.    General REVENUES: Taxes 12,688,117$       Licenses and permits 1,435,790           Grants / intergovernmental 605,084              Charges for services 1,500,690           Fines and penalties 679,599              Contributions 394,807              Investment Earnings 221,516              TOTAL REVENUES 17,525,603         EXPENDITURES: Personnel 10,365,489         Supplies 152,279              Contracted Services 2,737,559           Capital Outlay 1,500                   Internal Services 2,632,459           TOTAL EXPENDITURES 15,889,286         TRANSFERS IN 25,000                 TRANSFERS OUT 2,982                   NET TRANSFERS 22,018                CHANGE IN FUND BALANCE 1,658,335           BEGINNING FUND BALANCE, Jan 1 48,056,982         ENDING FUND BALANCE, Feb 29 49,715,317$             Monthly Financial Report February 2020  Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 2 of 7   DEBT SERVICE FUND   Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to  the City’s general obligation bond issues. The table below displays the year‐to‐date revenues and expenditures for the City’s  debt service fund.    General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 222,092$              Investment Earnings 11,397                  TOTAL REVENUES 233,489                EXPENDITURES: Principal 181,622                Interest 99,849                  TOTAL EXPENDITURES 281,471                NET TRANSFERS ‐                             CHANGE IN FUND BALANCE (47,982)                 BEGINNING FUND BALANCE, Jan 1 3,999,457             ENDING FUND BALANCE, Feb 29 3,951,475$               SPECIAL REVENUE FUNDS  Special revenue funds are used to account for revenues that are to be used for a specific purpose as required by law or  legislative action. The table below displays the year‐to‐date revenues and expenditures for the City’s special revenue funds.    Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands REVENUES: Taxes 59,617$                ‐$                           ‐$                           ‐$                           Licenses and permits ‐                             ‐                            20,749                  ‐                             Investment Earnings 2,425                    234                       1,504                    848                        TOTAL REVENUES 62,042                 234                       22,253                 848                        EXPENDITURES: Contracted Services 37,897                 2,800                    3,380                     ‐                             TOTAL EXPENDITURES 37,897                 2,800                    3,380                     ‐                             NET TRANSFERS ‐                             ‐                             ‐                             ‐                             CHANGE IN FUND BALANCE 24,145                 (2,566)                  18,873                 848                        BEGINNING FUND BALANCE, Jan 1 943,889               98,865                 603,760               345,658                ENDING FUND BALANCE, Feb 29 968,034$             96,299$               622,633$             346,506$                     Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 3 of 7   CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The  table below displays the year‐to‐date revenues and expenditures for the City’s capital project funds.    CS Impact Mitigation Transportation  Impact  Mitigation Municipal  Facilities CIP Capital  Investment Housing  Opportunity New Library  Development Family First  Center REVENUES: Grants / intergovernmental ‐$                       ‐$                      398,612$         202,512$          ‐$                       ‐$                       ‐$                       Charges for services 145,022           327,539           140                   250,000            ‐                         ‐                         ‐                         Fines and penalties ‐                         ‐                         ‐                        2,907                 ‐                         ‐                         ‐                         Investment Earnings 5,179                8,322                67,057              44,849              6,309                224                   20,438               TOTAL REVENUES 150,201           335,860           465,808           500,267           6,309                224                   20,438               EXPENDITURES: Personnel ‐                         ‐                        103,035           16,842               ‐                         ‐                         ‐                         Contracted Services ‐                         ‐                        322                   2,375                 ‐                         ‐                         ‐                         Capital Outlay ‐                         ‐                        849,889           253,191            ‐                         ‐                        106,515            TOTAL EXPENDITURES ‐                         ‐                        953,246           272,408            ‐                         ‐                        106,515            TRANSFERS IN ‐                         ‐                         ‐                         ‐                         ‐                         ‐                         ‐                         TRANSFERS OUT ‐                         ‐                         ‐                         ‐                        25,000               ‐                         ‐                         NET TRANSFERS ‐                         ‐                         ‐                         ‐                        (25,000)             ‐                         ‐                         CHANGE IN FUND BALANCE 150,201           335,860           (487,438)          227,859           (18,691)            224                   (86,077)             BEGINNING FUND BALANCE, Jan 1 1,886,999        2,942,344        26,395,567      18,947,853      2,570,350        16,408              8,551,401         ENDING FUND BALANCE, Feb 29 2,037,200$      3,278,204$      25,908,129$    19,175,712$    2,551,659$      16,632$           8,465,324$         Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 4 of 7   ENTERPRISE FUNDS  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business  enterprises. The table below displays the year‐to‐date revenues and expenses of the City’s enterprise funds.    Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                      ‐$                      ‐$                      ‐$                       16,875$             ‐$                     13,100$             Grants / intergovernmental ‐                         ‐                         ‐                         ‐                          ‐                          ‐                        181,980             Charges for services 22,427             2,528,414       163,798          2,497,116        1,844,457         2,908,145       2,043,696          Rents, leases, and misc fees 509,452           ‐                        32,805             30,825               ‐                          ‐                         ‐                          Interest and other misc 15,622             8,139               1,250               249,164            135,754            14,641             120,281             TOTAL REVENUES 547,501          2,536,553       197,853          2,777,105        1,997,086         2,922,786       2,359,057          EXPENSES: Personnel 183,366          106,143          220,306          703,253            377,090             ‐                        573,771             Supplies 2,105               308                  39,308             94,582              6,870                 ‐                        19,886               Contracted Services 53,560             3,265,505       10,775             460,225            315,875            2,829,380       172,571             Internal Services 56,810             82,861             58,735             389,882            279,928             ‐                        340,772             TOTAL OPERATING EXPENSES 295,841          3,454,817       329,124          1,647,942        979,763            2,829,380       1,107,000          AMOUNT AVAILABLE FOR DEBT  SERVICE, CAPITAL, AND TRANSFERS 251,660          (918,264)         (131,271)         1,129,163        1,017,323         93,406             1,252,057          DEBT SERVICE: Interest ‐                         ‐                         ‐                         ‐                          ‐                          ‐                        86,667               TOTAL DEBT SERVICE ‐                        ‐                        ‐                        ‐                          ‐                          ‐                       86,667               CAPITAL PROJECTS 56,233              ‐                        ‐                       278,453            20,096               ‐                       146,531             TRANSFERS IN ‐                         ‐                        12,667              ‐                          ‐                          ‐                         ‐                          TRANSFERS OUT ‐                         ‐                        15,362              ‐                          ‐                          ‐                         ‐                          NET TRANSFERS ‐                        ‐                       (2,695)              ‐                          ‐                          ‐                        ‐                          CHANGE IN FUND BALANCE 195,427          (918,264)         (133,966)         850,710            997,227            93,406             1,018,859          BEGINNING FUND BALANCE, Jan 1 6,259,402       2,266,127       173,750          37,569,067      19,832,351       5,961,906       18,377,556        ENDING FUND BALANCE, Feb 29 6,454,829$     1,347,863$     39,784$          38,419,777$    20,829,578$    6,055,312$     19,396,415$           Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 5 of 7   INTERNAL SERVICE FUNDS  Internal service funds are used to account for the goods and services furnished by one City department to other City  departments on a cost reimbursement basis. The table below displays the year‐to‐date revenues and expenses of the City’s  internal service funds.    Equipment  Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                          ‐$                         47,946$                ‐$                          ‐$                          ‐$                          ‐$                          Grants / intergovernmental ‐                             ‐                             ‐                            21,835                  ‐                             ‐                             ‐                             Charges for services: Equipment rental m&o 497,112                ‐                            964,353                ‐                             ‐                             ‐                             ‐                             Print and mail ‐                             ‐                             ‐                             ‐                            75,573                  ‐                             ‐                             Communications ‐                             ‐                             ‐                             ‐                            113,334                ‐                             ‐                             Facilities ‐                             ‐                             ‐                            874,752                ‐                             ‐                             ‐                             Interest and other misc 16,202                 47,012                 11,092                 3,147                   1,983                   12,889                 38,829                  Internal service fund misc: Vehicle / equipment capital recovery 456,628                ‐                             ‐                             ‐                             ‐                             ‐                             ‐                             Insurance premiums ‐                            286,261                ‐                             ‐                             ‐                             ‐                             ‐                             Worker's comp/unemployment ‐                            237,281                ‐                             ‐                             ‐                             ‐                             ‐                             Benefit premiums ‐                             ‐                             ‐                             ‐                             ‐                            1,833,300           437,447                Other misc 56                          ‐                            1,942                   26,167                  ‐                            195,982                ‐                             Insurance recoveries ‐                            11,550                  ‐                             ‐                             ‐                             ‐                             ‐                             TOTAL REVENUES 969,998              582,104              1,025,333           925,900              190,890              2,042,171           476,276               EXPENSES: Personnel 194,761               181,775               505,197               517,907               148,810               1,598,515           165,067                Supplies 158,395                ‐                            89,627                 72,741                 5,342                   1,218                    ‐                             Contracted Services 38,609                 625,900               439,080               176,219               37,118                 93,479                 9,442                    Internal Services 6,116                    ‐                            301                      12,674                 657                      10,072                  ‐                             TOTAL OPERATING EXPENSES 397,881              807,675              1,034,205           779,542              191,927              1,703,284           174,509               AMOUNT AVAILABLE FOR DEBT  SERVICE, CAPITAL, AND TRANSFERS 572,117              (225,571)             (8,872)                  146,358              (1,037)                  338,887              301,767               CAPITAL PROJECTS 190,979               ‐                            3,080                    ‐                             ‐                             ‐                             ‐                             TRANSFERS IN ‐                             ‐                            3,723                   1,954                    ‐                             ‐                             ‐                             TRANSFERS OUT ‐                             ‐                             ‐                             ‐                             ‐                             ‐                             ‐                             NET TRANSFERS ‐                             ‐                            3,723                   1,954                    ‐                             ‐                             ‐                             CHANGE IN FUND BALANCE 381,138              (225,571)             (8,229)                  148,312              (1,037)                  338,887              301,767               BEGINNING FUND BALANCE, Jan 1 6,851,811           19,095,508         4,490,062           1,220,276           803,561               5,151,648           15,799,729          ENDING FUND BALANCE, Feb 29 7,232,949$         18,869,937$       4,481,833$         1,368,588$         802,524$            5,490,535$         16,101,496$               Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 6 of 7   FIDUCIARY FUNDS  Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use  as they are not City assets. The table below displays year‐to‐date revenues and expenditures of the City’s fiduciary funds.    Fire Mitigation Firemens' Pension REVENUES: Charges for services 37,136$                 ‐$                             Investment Earnings 5,271                     15,727                    TOTAL REVENUES 42,407                   15,727                    EXPENDITURES: Personnel ‐                              36,610                    TOTAL EXPENDITURES ‐                              36,610                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 42,407                   (20,883)                  BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Feb 29 2,162,965$           7,545,019$               Monthly Financial Report                                                               City of Renton, Washington February 2020  Page 7 of 7   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through February 29, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  02/29/20 Total Funds  Available Budgeted  Expenditure Expenditure  02/29/20 Ending Balance GENERAL FUND 48,056,982      125,388,240    17,550,603   65,607,585      130,877,560    15,892,268   49,715,317       SPECIAL REVENUE FUNDS: 1,992,172        415,574           85,377           2,077,549        215,574           44,077           2,033,472         110 Hotel Motel 943,889           200,000           62,042           1,005,931         ‐                         37,897           968,034            125 Municipal Art 98,865              117,900           234                 99,099              117,900           2,800             96,299               127 Cable Communication 603,760           97,674              22,253           626,013           97,674              3,380             622,633            135 Springbrook Wetlands Bank 345,658            ‐                         848                 346,506            ‐                          ‐                      346,506            DEBT SERVICE FUND 3,999,457        8,143,007        233,489         4,232,946        8,262,386        281,471         3,951,475         CAPITAL PROJECT FUNDS (CIP): 61,310,922      22,661,048      1,479,107      62,790,029      23,982,156      1,357,169      61,432,860       303 Community Services Mitigation 1,886,999        86,500              150,201         2,037,200        600,000            ‐                      2,037,200         305 Transportation Mitigation 2,942,344        1,435,875        335,860         3,278,204        1,340,362         ‐                      3,278,204         316 Municipal Facilities CIP 26,395,567      4,501,550        465,808         26,861,375      4,427,121        953,246         25,908,129       317 Transportation CIP 18,947,853      16,637,123      500,267         19,448,120      17,614,673      272,408         19,175,712       326 Housing Opportunity 2,570,350         ‐                         6,309             2,576,659         ‐                         25,000           2,551,659         336 New Library Development 16,408               ‐                         224                 16,632               ‐                          ‐                      16,632               346 New Family First Center Dvlpmnt 8,551,401         ‐                         20,438           8,571,839         ‐                         106,515         8,465,324         ENTERPRISE FUNDS: 90,440,159      90,318,611      13,350,608   103,790,767    88,853,358      11,247,209   92,543,558       4X2 Airport Operating & CIP 6,259,402        3,051,767        547,501         6,806,903        2,439,468        352,074         6,454,829         403 Solid Waste Utility 2,266,127        19,505,719      2,536,553      4,802,680        19,401,611      3,454,817      1,347,863         4X4 Golf Operating & CIP 173,750           2,540,373        210,520         384,270           2,433,929        344,486         39,784               4X5 Water Operating & CIP 37,569,067      19,516,652      2,777,105      40,346,172      21,031,781      1,926,395      38,419,777       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      1,997,086      21,829,437      11,952,906      999,859         20,829,578       416 King County Metro 5,961,906        17,007,226      2,922,786      8,884,692        17,007,226      2,829,380      6,055,312         4X7 Surface Water Operating & CIP 18,377,556      17,066,090      2,359,057      20,736,613      14,586,437      1,340,198      19,396,415       INTERNAL SERVICE FUNDS: 53,412,595      35,335,012      6,218,349      59,630,944      35,643,460      5,283,082      54,347,862       501 Equipment Repair/Replacement 6,851,811        5,662,319        969,998         7,821,809        4,673,176        588,860         7,232,949         502 Insurance 19,095,508      3,390,962        582,104         19,677,612      4,249,334        807,675         18,869,937       503 Information Services 4,490,062        5,924,868        1,029,056      5,519,118        6,394,677        1,037,285      4,481,833         504 Facilities 1,220,276        5,328,266        927,854         2,148,130        5,546,397        779,542         1,368,588         505 Communications 803,561           1,134,441        190,890         994,451           1,220,852        191,927         802,524            512 Insurance, Healthcare 5,151,648        12,649,694      2,042,171      7,193,819        12,526,781      1,703,284      5,490,535         522 Insurance, Leoff1 Retirees HC 15,799,729      1,244,462        476,276         16,276,005      1,032,243        174,509         16,101,496       FIDUCIARY FUNDS: 9,686,460        567,000           58,134           9,744,594        314,283           36,610           9,707,984         304 Fire Mitigation 2,120,558        99,000              42,407           2,162,965        113,808            ‐                      2,162,965         611 Firemen's Pension 7,565,902        468,000           15,727           7,581,629        200,475           36,610           7,545,019         TOTAL FUNDS 268,898,747 282,828,492 38,975,667 307,874,414 288,148,777 34,141,886 273,732,528     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 Misty Baker at mbaker@rentonwa.gov or Jan Hawn at jhawn@rentonwa.gov.