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HomeMy WebLinkAboutMONTH 2020 08Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through August 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 49,745,709$       Licenses and permits 3,627,740            Grants / intergovernmental 2,690,662            Charges for services 5,101,682            Fines and penalties 2,199,084            Contributions 1,117,425            Sale of general fixed assets 18,600                  Investment Earnings 710,132               TOTAL REVENUES 65,211,034          EXPENDITURES: Personnel 39,818,261          Supplies 923,914               Contracted Services 11,445,195          Capital Outlay 231,794               Internal Services 8,350,219            TOTAL EXPENDITURES 60,769,383          TRANSFERS IN 15,457,006          TRANSFERS OUT 12,871,715          NET TRANSFERS 2,585,291            CHANGE IN FUND BALANCE 7,026,942            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Aug 31 55,083,924$       Monthly Financial Report August 2020  Monthly Financial Report                                                               City of Renton, Washington August 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 415,505$               Investment Earnings 26,001                    TOTAL REVENUES 441,506                 EXPENDITURES: Principal 580,922                 Interest 973,242                 TOTAL EXPENDITURES 1,554,164              TRANSFERS IN 2,850,961              NET TRANSFERS 2,850,961              CHANGE IN FUND BALANCE 1,738,303              BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Aug 31 5,737,760$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 163,545$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              60,876                    ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              9,436                      Investment Earnings 5,968                     909                        3,762                     2,095                     1,315                     251                         TOTAL REVENUES 189,513                909                        64,638                   2,095                     1,315                     9,687                      EXPENDITURES: Supplies ‐                              90                            ‐                               ‐                              26,470                    ‐                               Contracted Services 140,970                38,018                   29,420                    ‐                              16,241                   1,501                      TOTAL EXPENDITURES 140,970                38,108                   29,420                    ‐                              50,018                   1,501                      TRANSFERS IN ‐                              180,660                 ‐                               ‐                              711,102                126,011                 NET TRANSFERS ‐                              180,660                 ‐                               ‐                              711,102                126,011                 CHANGE IN FUND BALANCE 48,543                   143,461                35,218                   2,095                     662,399                134,197                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Aug 31 992,432$              242,326$              638,978$              347,753$              662,399$              134,197$               Monthly Financial Report                                                               City of Renton, Washington August 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 1REET 2 Municipal  Facilities CIP Capital  Investment Housing  Opportunity New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,822,604$       1,822,604$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          555,083            1,302,098          ‐                           ‐                           ‐                           Charges for services 451,853            1,584,551          ‐                           ‐                          140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          18,685                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          560,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 12,923               20,984               4,568                 4,568                 167,118            112,533            6,309                 271                    50,752                TOTAL REVENUES 464,776            1,605,535         1,827,172         1,827,172         1,282,341         1,683,316         6,309                 271                    50,752                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          343,336            74,668                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          127,910             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          309,110            107,460             ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          4,744,872         3,864,177          ‐                           ‐                          250,722             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          5,397,318         4,174,215          ‐                           ‐                          250,722             TRANSFERS IN ‐                           ‐                          1,143,855         1,143,855          ‐                          760,000             ‐                           ‐                           ‐                           TRANSFERS OUT ‐                           ‐                           ‐                           ‐                          2,323,680          ‐                          2,576,659          ‐                           ‐                           NET TRANSFERS ‐                           ‐                          1,143,855         1,143,855         (2,323,680)        760,000            (2,576,659)         ‐                           ‐                           CHANGE IN FUND BALANCE 464,776            1,605,535         2,971,027         2,971,027         (6,438,657)        (1,730,899)        (2,570,350)        271                    (199,970)            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, Aug 31 2,351,775$       4,547,879$       2,971,027$       2,971,027$       19,956,910$    17,216,954$     ‐$                        16,679$            8,351,431$        Monthly Financial Report                                                               City of Renton, Washington August 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 ‐$                        ‐$                        ‐$                        ‐$                        68,525$              ‐$                       47,600$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         642,014              Charges for services 54,786              11,650,359      1,467,732        10,737,473       7,142,419          11,183,013      8,055,040           Rents, leases, and misc fees 1,971,058         ‐                         223,860           123,578              ‐                            ‐                          ‐                            Interest and other misc 39,817              19,211              (13,458)            530,060             390,341             37,336              278,617              TOTAL REVENUES 2,065,661        11,759,234      1,678,134        11,391,111       7,601,548          11,220,349      9,023,271           EXPENSES: Personnel 614,105           382,313           940,535           2,877,078         1,581,863           ‐                         2,469,906           Supplies 18,575              3,252                207,573           497,866             41,602                ‐                         68,743                Contracted Services 232,899           10,905,136      104,830           1,965,847         1,308,523          9,525,536        1,165,847           Internal Services 209,426           303,288           228,038           1,375,688         978,584              ‐                         1,157,723           TOTAL OPERATING EXPENSES 1,075,005        11,593,989      1,480,976        6,716,479         3,910,572          9,525,536        4,862,219           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 990,656           165,245           197,158           4,674,632         3,690,976          1,694,813        4,161,052           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         400,434              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         400,434              CAPITAL OUTLAY 213,658            ‐                          ‐                         2,210,582         455,674              ‐                         1,179,967           TRANSFERS IN ‐                          ‐                         50,667               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         53,362              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 775,635           165,245           194,463           2,012,307         3,189,904          1,694,813        2,580,651           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, Aug 31 7,035,037$      2,431,372$      368,213$         39,581,374$     23,022,255$     7,656,719$      20,958,207$      Monthly Financial Report                                                               City of Renton, Washington August 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 ‐$                            ‐$                           167,733$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                  49,690                   ‐                             35,245                   Charges for services: Equipment rental m&o 2,021,582             ‐                             3,582,241             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             118,104                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             214,837                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,766,517             ‐                              ‐                              ‐                              Interest and other misc 42,289                  113,926                27,597                  7,883                    4,685                    34,069                  96,932                   Internal service fund misc: Vehicle / equipment capital recovery 428,185                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,132,073             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             939,118                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             7,283,102            1,083,123             Other misc 199                         ‐                             1,942                    1                             ‐                             907,423                 ‐                              Insurance recoveries ‐                             24,252                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 2,492,255            2,209,369            3,779,513            2,796,236            387,316                8,224,594            1,215,300             EXPENSES: Personnel 718,989                571,133                1,918,151            1,966,932            573,284                6,204,472            702,958                 Supplies 649,146                401                        233,439                300,669                18,946                  6,881                     ‐                              Contracted Services 147,885                1,562,288            1,275,242            874,296                172,427                329,664                32,667                   Internal Services 21,798                   ‐                             1,203                    45,713                  2,627                    40,287                   ‐                              TOTAL OPERATING EXPENSES 1,537,818            2,133,822            3,428,035            3,187,610            767,284                6,581,304            735,625                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 954,437                75,547                  351,478                (391,374)              (379,968)              1,643,290            479,675                 CAPITAL OUTLAY 1,042,921             ‐                             39,687                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             12,433                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                             4,500,000             ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                             (4,500,000)           12,433                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE (88,484)                 (4,424,453)           324,224                (388,482)              (384,197)              1,643,290            479,675                 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, Aug 31 6,763,327$          14,671,055$        4,814,286$          831,794$             419,364$             6,794,938$          16,279,404$         Monthly Financial Report                                                               City of Renton, Washington August 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 116,313                 ‐                               Investment Earnings 13,167                   38,137                    TOTAL REVENUES 129,480                204,054                 EXPENDITURES: Personnel ‐                              138,982                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              142,382                 NET TRANSFERS (113,806)                ‐                               CHANGE IN FUND BALANCE 15,674                   61,672                    BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Aug 31 2,136,232$           7,627,574$            Monthly Financial Report                                                               City of Renton, Washington August 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 August 31, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  08/31/20 Total Funds  Available Budgeted  Expenditure Expenditure  08/31/20 Ending Balance GENERAL FUND 48,056,982      131,167,346    80,668,040      128,725,022    124,162,622    73,641,098      55,083,924       SPECIAL REVENUE FUNDS: 1,992,172        1,315,447        1,285,930        3,278,102        1,673,139        260,017           3,018,085         110 Hotel Motel 943,889           200,000           189,513           1,133,402        466,562           140,970           992,432            125 Municipal Art 98,865             180,660           181,569           280,434           271,790           38,108             242,326            127 Cable Communication 603,760           97,674             64,638             668,398           97,674             29,420             638,978            135 Springbrook Wetlands Bank 345,658            ‐                       2,095               347,753            ‐                        ‐                       347,753            140 Police Seizure ‐                       711,102           712,417           712,417           711,102           50,018             662,399            141 Police CSAM Seizure ‐                       126,011           135,698           135,698           126,011           1,501               134,197            DEBT SERVICE FUND 3,999,457        8,143,007        3,292,467        7,291,924        7,162,386        1,554,164        5,737,760         CAPITAL PROJECT FUNDS (CIP): 61,310,922      41,900,304      11,795,354      73,106,276      87,003,334      14,722,594      58,383,682       303 Community Services Mitigation 1,886,999        86,500             464,776           2,351,775        945,909            ‐                       2,351,775         305 Transportation Mitigation 2,942,344        1,435,875        1,605,535        4,547,879        1,811,987         ‐                       4,547,879         308 REET1 ‐                       3,143,855        2,971,027        2,971,027        1,775,000         ‐                       2,971,027         309 REET2 ‐                       3,143,855        2,971,027        2,971,027        1,775,000         ‐                       2,971,027         316 Municipal Facilities CIP 26,395,567      6,880,571        1,282,341        27,677,908      32,171,063      7,720,998        19,956,910       317 Transportation CIP 18,947,853      27,128,339      2,443,316        21,391,169      45,298,768      4,174,215        17,216,954       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              ‐                       271                  16,679              ‐                        ‐                       16,679              346 New Family First Center Dvlpmnt 8,551,401        75,000             50,752             8,602,153        648,948           250,722           8,351,431         ENTERPRISE FUNDS: 90,440,159      99,238,882      54,789,975      145,230,134    153,576,378    44,176,957      101,053,177     4X2 Airport Operating & CIP 6,259,402        3,051,767        2,065,661        8,325,063        7,848,424        1,290,026        7,035,037         403 Solid Waste Utility 2,266,127        19,616,816      11,759,234      14,025,361      19,367,083      11,593,989      2,431,372         4X4 Golf Operating & CIP 173,750           2,872,920        1,728,801        1,902,551        2,476,682        1,534,338        368,213            4X5 Water Operating & CIP 37,569,067      19,516,652      11,391,111      48,960,178      49,940,511      9,378,804        39,581,374       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      7,601,548        27,433,899      25,800,350      4,411,644        23,022,255       416 King County Metro 5,961,906        17,007,226      11,220,349      17,182,255      17,007,226      9,525,536        7,656,719         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      9,023,271        27,400,827      31,136,102      6,442,620        20,958,207       INTERNAL SERVICE FUNDS: 53,412,595      30,866,021      21,125,612      74,538,207      40,371,739      23,964,039      50,574,168       501 Equipment Repair/Replacement 6,851,811        3,599,714        2,492,255        9,344,066        4,815,199        2,580,739        6,763,327         502 Insurance 19,095,508      3,371,506        2,209,369        21,304,877      7,829,878        6,633,822        14,671,055       503 Information Services 4,490,062        5,509,868        3,791,946        8,282,008        7,635,416        3,467,722        4,814,286         504 Facilities 1,220,276        4,313,651        2,804,832        4,025,108        5,079,561        3,193,314        831,794            505 Communications 803,561           1,177,126        387,316           1,190,877        1,263,537        771,513           419,364            512 Insurance, Healthcare 5,151,648        12,649,694      8,224,594        13,376,242      12,499,905      6,581,304        6,794,938         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           1,215,300        17,015,029      1,248,243        735,625           16,279,404       FIDUCIARY FUNDS: 9,686,460        567,000           333,534           10,019,994      314,283           256,188           9,763,806         304 Fire Mitigation 2,120,558        99,000             129,480           2,250,038        113,808           113,806           2,136,232         611 Firemens' Pension 7,565,902        468,000           204,054           7,769,956        200,475           142,382           7,627,574         TOTAL FUNDS 268,898,747 313,198,007 173,290,912 442,189,659 414,263,881 158,575,057 283,614,602