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HomeMy WebLinkAboutMONTH 2020 03Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through March 31,  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 18,732,106$       Licenses and permits 1,787,131            Grants / intergovernmental 1,065,400            Charges for services 2,133,062            Fines and penalties 1,031,591            Contributions 483,932               Investment Earnings 319,914               TOTAL REVENUES 25,553,136          EXPENDITURES: Personnel 15,609,343          Supplies 263,396               Contracted Services 4,255,309            Capital Outlay 66,659                  Internal Services 3,967,091            TOTAL EXPENDITURES 24,161,798          TRANSFERS IN 25,000                  TRANSFERS OUT 8,488                    NET TRANSFERS 16,512                  CHANGE IN FUND BALANCE 1,407,850            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Mar 31 49,464,832$              Monthly Financial Report March 2020  Monthly Financial Report                                                               City of Renton, Washington March 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 14,937                  TOTAL REVENUES 237,029               EXPENDITURES: Principal 181,622                Interest 99,849                  TOTAL EXPENDITURES 281,471               NET TRANSFERS ‐                             CHANGE IN FUND BALANCE (44,442)                BEGINNING FUND BALANCE, Jan 1 3,999,457            ENDING FUND BALANCE, Mar 31 3,955,015$              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 93,982$                 ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              20,749                    ‐                               Investment Earnings 3,294                     321                        2,063                     1,158                      TOTAL REVENUES 97,277                   321                        22,812                   1,158                      EXPENDITURES: Contracted Services 44,496                   4,800                     9,360                      ‐                               TOTAL EXPENDITURES 44,496                   5,000                     9,360                      ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 52,781                   (4,679)                    13,452                   1,158                      BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ENDING FUND BALANCE, Mar 31 996,670$              94,186$                617,212$              346,816$                      Monthly Financial Report                                                               City of Renton, Washington March 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$          468,834$           ‐$                         ‐$                         ‐$                         Charges for services 245,993            529,142            140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                          5,746                  ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                          160,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 7,004                 11,261               101,531            62,228               6,309                 235                    28,052                TOTAL REVENUES 252,997            540,403            660,282            786,807            6,309                 235                    28,052                EXPENDITURES: Personnel ‐                           ‐                          159,999            25,426                ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                          4,604                 4,475                  ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                          1,217,740         611,111             ‐                           ‐                          163,516             TOTAL EXPENDITURES ‐                           ‐                          1,382,343         641,012             ‐                           ‐                          163,516             TRANSFERS OUT ‐                           ‐                           ‐                           ‐                          25,000                ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          (25,000)              ‐                           ‐                           CHANGE IN FUND BALANCE 252,997            540,403            (722,061)           145,795            (18,691)             235                    (135,464)            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, Mar 31 2,139,996$       3,482,747$       25,673,506$    19,093,648$    2,551,659$       16,643$            8,415,937$          Monthly Financial Report                                                               City of Renton, Washington March 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 ‐$                        ‐$                        ‐$                        ‐$                        31,775$              ‐$                       23,225$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         560,614              Charges for services 29,852              5,258,251        280,571           3,640,732         2,718,672          4,277,356        2,939,386           Rents, leases, and misc fees 768,019            ‐                         47,169              48,809                ‐                            ‐                          ‐                            Interest and other misc 21,467              9,894                1,611                319,283             195,402             20,073              147,608              TOTAL REVENUES 819,338           5,357,808        329,351           4,008,824         2,945,849          4,297,429        3,670,833           EXPENSES: Personnel 272,258           155,464           333,370           1,077,640         567,578              ‐                         876,981              Supplies 2,737                617                   79,643              171,772             9,863                   ‐                         32,131                Contracted Services 95,942              4,259,450        35,414              708,814             485,390             4,244,070        373,515              Internal Services 85,681              128,547           88,102              581,918             417,264              ‐                         520,698              TOTAL OPERATING EXPENSES 456,618           4,544,078        536,529           2,540,144         1,480,095          4,244,070        1,803,325           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 362,720           813,730           (207,178)          1,468,680         1,465,754          53,359              1,867,508           DEBT SERVICE: Interest ‐                          ‐                          ‐                          ‐                           ‐                            ‐                         130,000              TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                         130,000              CAPITAL PROJECTS 132,819            ‐                          ‐                         744,955             147,176              ‐                         379,244              TRANSFERS IN ‐                          ‐                         19,000               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         21,695              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 228,538           813,730           (209,873)          723,395             1,318,578          53,359              1,358,264           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, Mar 31 6,487,940$      3,079,857$      (36,123)$          38,292,462$     21,150,929$     6,015,265$      19,735,820$            Monthly Financial Report                                                               City of Renton, Washington March 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 ‐$                            ‐$                           74,067$                 ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 761,453                 ‐                             1,446,529             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             113,359                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             170,001                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,312,128             ‐                              ‐                              ‐                              Interest and other misc 22,777                  64,010                  15,115                  4,388                    2,704                    17,814                  53,283                   Internal service fund misc: Vehicle / equipment capital recovery 684,942                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             429,391                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             357,134                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             2,739,577            656,171                 Other misc 100                         ‐                             1,942                    39,250                   ‐                             289,963                 ‐                              Insurance recoveries ‐                             11,550                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,469,272            862,085                1,537,653            1,377,600            286,064                3,047,354            744,699                 EXPENSES: Personnel 288,607                258,715                761,501                779,843                223,519                2,487,535            299,055                 Supplies 252,045                374                        119,770                170,290                11,959                  6,881                     ‐                              Contracted Services 58,341                  655,659                626,629                366,201                52,388                  134,810                12,742                   Internal Services 9,173                     ‐                             451                        19,011                  985                        15,107                   ‐                              TOTAL OPERATING EXPENSES 608,166                914,748                1,508,351            1,335,345            288,851                2,644,333            311,797                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 861,106                (52,663)                 29,302                  42,255                  (2,787)                   403,021                432,902                 CAPITAL PROJECTS 272,735                 ‐                             14,520                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             5,745                    7,459                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                              ‐                              ‐                              ‐                             329                         ‐                              ‐                              NET TRANSFERS ‐                              ‐                             5,745                    7,459                    (329)                       ‐                              ‐                              CHANGE IN FUND BALANCE 588,371                (52,663)                 20,527                  44,010                  (3,116)                   403,021                432,902                 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, Mar 31 7,440,182$          19,042,845$        4,510,589$          1,264,286$          800,445$             5,554,669$          16,232,631$                Monthly Financial Report                                                               City of Renton, Washington March 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 61,458$                 ‐$                             Investment Earnings 7,213                     20,071                    TOTAL REVENUES 68,671                   20,071                    EXPENDITURES: Personnel ‐                              54,915                    TOTAL EXPENDITURES ‐                              54,915                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 68,671                   (34,844)                  BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Mar 31 2,189,229$           7,531,058$               Monthly Financial Report                                                               City of Renton, Washington March 2020  Page 7 of 7   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through March 31, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  03/31/20 Total Funds  Available Budgeted  Expenditure Expenditure  03/31/20 Ending Balance GENERAL FUND 48,056,982      125,971,724    25,578,136    73,635,118      134,629,020    24,170,286    49,464,832       SPECIAL REVENUE FUNDS: 1,992,172        1,275,447        121,568         2,113,740        780,526           58,856           2,054,884         110 Hotel Motel 943,889           200,000           97,277           1,041,166        429,062           44,496           996,670            125 Municipal Art 98,865             180,660           321                99,186             253,790           5,000             94,186              127 Cable Communication 603,760           97,674             22,812           626,572           97,674             9,360             617,212            135 Springbrook Wetlands Bank 345,658            ‐                       1,158             346,816            ‐                        ‐                     346,816            DEBT SERVICE FUND 3,999,457        8,143,007        237,029         4,236,486        7,162,386        281,471         3,955,015         CAPITAL PROJECT FUNDS (CIP): 61,310,922      43,601,229      2,275,085      63,586,007      87,473,609      2,211,871      61,374,136       303 Community Services Mitigation 1,886,999        86,500             252,997         2,139,996        1,202,364         ‐                     2,139,996         305 Transportation Mitigation 2,942,344        1,435,875        540,403         3,482,747        2,500,656         ‐                     3,482,747         316 Municipal Facilities CIP 26,395,567      7,970,026        660,282         27,055,849      30,575,902      1,382,343      25,673,506       317 Transportation CIP 18,947,853      27,739,809      786,807         19,734,660      46,419,080      641,012         19,093,648       326 Housing Opportunity 2,570,350        6,309               6,309             2,576,659        2,576,659        25,000           2,551,659         336 New Library Development 16,408              ‐                       235                16,643              ‐                        ‐                     16,643              346 New Family First Center Dvlpmnt 8,551,401        75,000             28,052           8,579,453        648,948           163,516         8,415,937         ENTERPRISE FUNDS: 90,440,159      99,238,882      21,448,432    111,888,591    155,326,944    17,162,441    94,726,150       4X2 Airport Operating & CIP 6,259,402        3,051,767        819,338         7,078,740        8,097,828        590,800         6,487,940         403 Solid Waste Utility 2,266,127        19,616,816      5,357,808      7,623,935        19,476,649      4,544,078      3,079,857         4X4 Golf Operating & CIP 173,750           2,872,920        348,351         522,101           2,650,253        558,224         (36,123)             4X5 Water Operating & CIP 37,569,067      19,516,652      4,008,824      41,577,891      50,487,098      3,285,429      38,292,462       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      2,945,849      22,778,200      26,039,906      1,627,271      21,150,929       416 King County Metro 5,961,906        17,007,226      4,297,429      10,259,335      17,007,226      4,244,070      6,015,265         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      3,670,833      22,048,389      31,567,984      2,312,569      19,735,820       INTERNAL SERVICE FUNDS: 53,412,595      35,418,012      9,337,931      62,750,526      40,458,552      7,904,879      54,845,647       501 Equipment Repair/Replacement 6,851,811        5,662,319        1,469,272      8,321,083        6,954,176        880,901         7,440,182         502 Insurance 19,095,508      3,390,962        862,085         19,957,593      4,249,334        914,748         19,042,845       503 Information Services 4,490,062        5,927,868        1,543,398      6,033,460        8,076,416        1,522,871      4,510,589         504 Facilities 1,220,276        5,328,266        1,385,059      2,605,335        6,102,750        1,341,049      1,264,286         505 Communications 803,561           1,214,441        286,064         1,089,625        1,300,852        289,180         800,445            512 Insurance, Healthcare 5,151,648        12,649,694      3,047,354      8,199,002        12,526,781      2,644,333      5,554,669         522 Insurance, Leoff1 Retirees HC 15,799,729      1,244,462        744,699         16,544,428      1,248,243        311,797         16,232,631       FIDUCIARY FUNDS: 9,686,460        567,000           88,742           9,775,202        314,283           54,915           9,720,287         304 Fire Mitigation 2,120,558        99,000             68,671           2,189,229        113,808            ‐                     2,189,229         611 Firemen's Pension 7,565,902        468,000           20,071           7,585,973        200,475           54,915           7,531,058         TOTAL FUNDS 268,898,747 314,215,301 59,086,923 327,985,670 426,145,320 51,844,719 276,140,951     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.