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HomeMy WebLinkAboutMONTH 2020 06Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through June 30, 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 39,938,915$       Licenses and permits 2,730,287            Grants / intergovernmental 2,011,472            Charges for services 3,922,097            Fines and penalties 1,734,081            Contributions 927,259               Sale of general fixed assets 18,100                  Investment Earnings 560,326               TOTAL REVENUES 51,842,537          EXPENDITURES: Personnel 30,109,476          Supplies 665,171               Contracted Services 8,672,287            Capital Outlay 136,076               Internal Services 7,469,210            TOTAL EXPENDITURES 47,052,220          TRANSFERS IN 8,633,326            TRANSFERS OUT 9,334,561            NET TRANSFERS (701,235)              CHANGE IN FUND BALANCE 4,089,082            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Jun 30 52,146,064$       Monthly Financial Report June 2020  Monthly Financial Report                                                               City of Renton, Washington June 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.        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.           General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 222,092$               Investment Earnings 22,001                    TOTAL REVENUES 244,093                 EXPENDITURES: Principal 181,622                 Interest 876,071                 TOTAL EXPENDITURES 1,057,693              NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (813,600)                BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Jun 30 3,185,857$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 140,524$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              41,132                    ‐                               ‐                               ‐                               Investment Earnings 5,070                     670                        3,182                     1,778                     704                        132                         TOTAL REVENUES 145,594                670                        44,314                   1,778                     704                        132                         EXPENDITURES: Supplies ‐                              290                         ‐                               ‐                               ‐                               ‐                               Contracted Services 104,381                15,869                   17,100                    ‐                              862                         ‐                               TOTAL EXPENDITURES 104,381                16,159                   17,100                    ‐                              862                         ‐                               TRANSFERS IN ‐                              180,660                 ‐                               ‐                              671,102                126,011                 NET TRANSFERS ‐                              180,660                 ‐                               ‐                              671,102                126,011                 CHANGE IN FUND BALANCE 41,213                   165,171                27,214                   1,778                     670,944                126,143                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Jun 30 985,102$              264,036$              630,974$              347,436$              670,944$              126,143$               Monthly Financial Report                                                               City of Renton, Washington June 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 REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Housing  Opportunity New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,271,842$       1,271,842$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          522,438            880,701             ‐                           ‐                           ‐                           Charges for services 334,963            729,530             ‐                           ‐                          141                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          9,012                  ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          160,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 10,872               17,583               2,244                 2,244                 147,100            96,183               6,309                 259                    43,113                TOTAL REVENUES 345,835            747,113            1,274,086         1,274,086         829,679            1,235,896         6,309                 259                    43,113                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          331,597            53,386                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          104,071             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          102,974            84,351                ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          3,991,443         2,080,070          ‐                           ‐                          232,728             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          4,426,014         2,321,878          ‐                           ‐                          232,728             TRANSFERS IN ‐                           ‐                          1,143,855         1,143,855          ‐                           ‐                           ‐                           ‐                           ‐                           TRANSFERS OUT ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          2,576,659          ‐                           ‐                           NET TRANSFERS ‐                           ‐                          1,143,855         1,143,855          ‐                           ‐                          (2,576,659)         ‐                           ‐                           CHANGE IN FUND BALANCE 345,835            747,113            2,417,941         2,417,941         (3,596,335)        (1,085,982)        (2,570,350)        259                    (189,615)            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, Jun 30 2,232,834$       3,689,457$       2,417,941$       2,417,941$       22,799,232$    17,861,871$     ‐$                        16,667$            8,361,786$        Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                        ‐$                        ‐$                        ‐$                        48,275$              ‐$                       35,225$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         642,014              Charges for services 38,152              10,393,666      865,395           7,427,277         5,366,799          8,416,524        5,907,533           Rents, leases, and misc fees 1,456,675         ‐                         127,900           84,059                ‐                            ‐                          ‐                            Interest and other misc 33,460              16,160              1,978                485,804             333,293             32,451              238,321              TOTAL REVENUES 1,528,287        10,499,490      995,273           7,997,140         5,748,522          8,448,975        6,823,093           EXPENSES: Personnel 480,208           292,151           672,654           2,157,864         1,145,637           ‐                         1,796,117           Supplies 18,425              3,252                159,956           341,899             28,002                ‐                         58,558                Contracted Services 198,522           8,882,554        81,711              1,420,773         975,115             9,525,536        867,617              Internal Services 164,582           252,280           176,281           1,107,657         784,138              ‐                         955,142              TOTAL OPERATING EXPENSES 861,737           9,430,237        1,090,602        5,028,193         2,932,892          9,525,536        3,677,434           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 666,550           1,069,253        (95,329)            2,968,947         2,815,630          (1,076,561)       3,145,659           DEBT SERVICE: Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         313,768              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         313,768              CAPITAL PROJECTS 161,865            ‐                          ‐                         1,703,057         301,238              ‐                         774,712              TRANSFERS IN ‐                          ‐                         38,000               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         40,695              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 503,322           1,069,253        (98,024)            814,147             2,468,994          (1,076,561)       2,057,179           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, Jun 30 6,762,724$      3,335,380$      75,726$           38,383,214$     22,301,345$     4,885,345$      20,434,735$      Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                            ‐$                           123,004$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 1,516,570             ‐                             2,894,507             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             226,718                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             340,003                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,629,606             ‐                              ‐                              ‐                              Interest and other misc 35,986                  98,258                  23,311                  6,782                    4,133                    28,192                  82,166                   Internal service fund misc: Vehicle / equipment capital recovery 684,942                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             858,782                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             707,342                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             5,476,639            812,342                 Other misc 169                         ‐                             1,942                    78,499                   ‐                             578,104                 ‐                              Insurance recoveries ‐                             13,999                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 2,237,667            1,678,381            3,042,764            2,736,722            570,854                6,082,935            929,753                 EXPENSES: Personnel 546,371                466,214                1,488,032            1,478,774            444,546                4,532,508            539,457                 Supplies 483,678                374                        224,440                293,729                16,622                  6,881                     ‐                              Contracted Services 122,175                826,477                1,134,131            625,576                131,920                248,333                25,959                   Internal Services 17,015                   ‐                             902                        35,671                  1,971                    30,215                   ‐                              TOTAL OPERATING EXPENSES 1,169,239            1,293,065            2,847,505            2,433,750            595,059                4,817,937            565,416                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,068,428            385,316                195,259                302,972                (24,205)                 1,264,998            364,337                 CAPITAL PROJECTS 925,942                 ‐                             30,872                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             12,433                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                              ‐                              ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                              ‐                             12,433                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE 142,486                385,316                176,820                305,864                (28,434)                 1,264,998            364,337                 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, Jun 30 6,994,297$          19,480,824$        4,666,882$          1,526,140$          775,127$             6,416,646$          16,164,066$         Monthly Financial Report                                                               City of Renton, Washington June 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: Grants / intergovernmental ‐$                            165,917$               Charges for services 81,198                    ‐                               Investment Earnings 11,143                   31,982                    TOTAL REVENUES 92,341                   197,899                 EXPENDITURES: Personnel ‐                              103,732                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              107,132                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 92,341                   90,767                    BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Jun 30 2,212,899$           7,656,669$            Monthly Financial Report                                                               City of Renton, Washington June 2020  Page 7 of 7       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.  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through June 30, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  06/30/20 Total Funds  Available Budgeted  Expenditure Expenditure  06/30/20 Ending Balance GENERAL FUND 48,056,982      131,167,346    60,475,863      108,532,845    124,162,622    56,386,781      52,146,064       SPECIAL REVENUE FUNDS: 1,992,172        1,315,447        1,170,965        3,163,137        1,673,139        138,502           3,024,635         110 Hotel Motel 943,889           200,000           145,594           1,089,483        466,562           104,381           985,102            125 Municipal Art 98,865             180,660           181,330           280,195           271,790           16,159             264,036            127 Cable Communication 603,760           97,674             44,314             648,074           97,674             17,100             630,974            135 Springbrook Wetlands Bank 345,658            ‐                       1,778               347,436            ‐                        ‐                       347,436            140 Police Seizure ‐                       711,102           671,806           671,806           711,102           862                  670,944            141 Police CSAM Seizure ‐                       126,011           126,143           126,143           126,011            ‐                       126,143            DEBT SERVICE FUND 3,999,457        8,143,007        244,093           4,243,550        7,162,386        1,057,693        3,185,857         CAPITAL PROJECT FUNDS (CIP): 61,310,922      41,900,304      8,044,086        69,355,008      87,003,334      9,557,279        59,797,729       303 Community Services Mitigation 1,886,999        86,500             345,835           2,232,834        945,909            ‐                       2,232,834         305 Transportation Mitigation 2,942,344        1,435,875        747,113           3,689,457        1,811,987         ‐                       3,689,457         308 REET1 ‐                       3,143,855        2,417,941        2,417,941        1,775,000         ‐                       2,417,941         309 REET2 ‐                       3,143,855        2,417,941        2,417,941        1,775,000         ‐                       2,417,941         316 Municipal Facilities CIP 26,395,567      6,880,571        829,679           27,225,246      32,171,063      4,426,014        22,799,232       317 Transportation CIP 18,947,853      27,128,339      1,235,896        20,183,749      45,298,768      2,321,878        17,861,871       326 Housing Opportunity 2,570,350        6,309               6,309               2,576,659        2,576,659        2,576,659         ‐                        336 New Library Development 16,408              ‐                       259                  16,667              ‐                        ‐                       16,667              346 New Family First Center Dvlpmnt 8,551,401        75,000             43,113             8,594,514        648,948           232,728           8,361,786         ENTERPRISE FUNDS: 90,440,159      99,238,882      42,078,780      132,518,939    153,576,378    36,340,470      96,178,469       4X2 Airport Operating & CIP 6,259,402        3,051,767        1,528,287        7,787,689        7,848,424        1,024,965        6,762,724         403 Solid Waste Utility 2,266,127        19,616,816      10,499,490      12,765,617      19,367,083      9,430,237        3,335,380         4X4 Golf Operating & CIP 173,750           2,872,920        1,033,273        1,207,023        2,476,682        1,131,297        75,726              4X5 Water Operating & CIP 37,569,067      19,516,652      7,997,140        45,566,207      49,940,511      7,182,993        38,383,214       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      5,748,522        25,580,873      25,800,350      3,279,528        22,301,345       416 King County Metro 5,961,906        17,007,226      8,448,975        14,410,881      17,007,226      9,525,536        4,885,345         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      6,823,093        25,200,649      31,136,102      4,765,914        20,434,735       INTERNAL SERVICE FUNDS: 53,412,595      30,866,021      17,300,105      70,712,700      40,371,739      14,688,718      56,023,982       501 Equipment Repair/Replacement 6,851,811        3,599,714        2,237,667        9,089,478        4,815,199        2,095,181        6,994,297         502 Insurance 19,095,508      3,371,506        1,678,381        20,773,889      7,829,878        1,293,065        19,480,824       503 Information Services 4,490,062        5,509,868        3,055,197        7,545,259        7,635,416        2,878,377        4,666,882         504 Facilities 1,220,276        4,313,651        2,745,318        3,965,594        5,079,561        2,439,454        1,526,140         505 Communications 803,561           1,177,126        570,854           1,374,415        1,263,537        599,288           775,127            512 Insurance, Healthcare 5,151,648        12,649,694      6,082,935        11,234,583      12,499,905      4,817,937        6,416,646         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           929,753           16,729,482      1,248,243        565,416           16,164,066       FIDUCIARY FUNDS: 9,686,460        567,000           290,240           9,976,700        314,283           107,132           9,869,568         304 Fire Mitigation 2,120,558        99,000             92,341             2,212,899        113,808            ‐                       2,212,899         611 Firemens' Pension 7,565,902        468,000           197,899           7,763,801        200,475           107,132           7,656,669         TOTAL FUNDS 268,898,747 313,198,007 129,604,132 398,502,879 414,263,881 118,276,575 280,226,304