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HomeMy WebLinkAboutMONTH 2020 09Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through September  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 54,994,256$       Licenses and permits 3,898,393            Grants / intergovernmental 3,100,156            Charges for services 5,703,174            Fines and penalties 2,525,808            Contributions 1,198,940            Sale of general fixed assets 18,850                  Investment Earnings 783,780               Insurance recoveries 4,566                    TOTAL REVENUES 72,227,923          EXPENDITURES: Personnel 44,751,272          Supplies 1,099,750            Contracted Services 14,484,898          Capital Outlay 289,912               Internal Services 9,397,474            TOTAL EXPENDITURES 70,023,306          TRANSFERS IN 15,494,506          TRANSFERS OUT 12,874,674          NET TRANSFERS 2,619,832            CHANGE IN FUND BALANCE 4,824,449            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Sep 30 52,881,431$       Monthly Financial Report September 2020  Monthly Financial Report                                                               City of Renton, Washington September 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 28,545                    TOTAL REVENUES 444,050                 EXPENDITURES: Principal 580,922                 Interest 978,142                 TOTAL EXPENDITURES 1,559,064              TRANSFERS IN 2,850,961              NET TRANSFERS 2,850,961              CHANGE IN FUND BALANCE 1,735,947              BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Sep 30 5,735,404$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 179,305$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              60,877                    ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               Contributions 30,000                    ‐                               ‐                               ‐                              8,716                     15,184                    Investment Earnings 6,409                     1,025                     4,049                     2,251                     1,613                     311                         TOTAL REVENUES 215,714                1,025                     64,926                   2,251                     10,329                   15,495                    EXPENDITURES: Supplies ‐                              90                            ‐                               ‐                              34,869                    ‐                               Contracted Services 201,161                48,568                   29,830                    ‐                              20,580                   1,501                      Capital Outlay ‐                               ‐                               ‐                               ‐                              7,307                      ‐                               TOTAL EXPENDITURES 201,161                48,658                   29,830                    ‐                              62,756                   1,501                      TRANSFERS IN ‐                              180,660                 ‐                               ‐                              711,102                126,011                 TRANSFERS OUT 37,500                    ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS (37,500)                 180,660                 ‐                               ‐                              711,102                126,011                 CHANGE IN FUND BALANCE (22,947)                 133,027                35,096                   2,251                     658,675                140,005                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Sep 30 920,942$              231,892$              638,856$              347,909$              658,675$              140,005$               Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                         ‐$                        2,233,375$       2,233,375$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          555,083            1,372,736          ‐                           ‐                           ‐                           Charges for services 505,723            1,691,032          ‐                           ‐                          140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          21,622                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          560,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 13,940               22,675               5,775                 5,775                 176,405            120,484            6,309                 271                    54,501                TOTAL REVENUES 519,663            1,713,707         2,239,150         2,239,150         1,291,628         1,764,842         6,309                 271                    54,501                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          381,069            80,879                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          147,946             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          408,562            107,700             ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          5,148,686         4,508,948          ‐                           ‐                          259,310             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          5,938,317         4,845,473          ‐                           ‐                          259,310             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 519,663            1,713,707         3,383,005         3,383,005         (6,970,369)        (2,320,631)        (2,570,350)        271                    (204,809)            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, Sep 30 2,406,662$       4,656,051$       3,383,005$       3,383,005$       19,425,198$    16,627,222$     ‐$                        16,679$            8,346,592$        Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                        ‐$                        ‐$                        ‐$                        73,400$              ‐$                       52,475$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         778,027              Charges for services 70,084              15,587,987      1,787,980        12,721,901       8,012,821          12,532,990      8,944,514           Fines and penalties ‐                          ‐                          ‐                         5,600                 263                      ‐                          ‐                            Rents, leases, and misc fees 2,212,475         ‐                         276,076           232,204              ‐                            ‐                          ‐                            Interest and other misc 42,954              20,695              2,667                637,326             500,862             39,896              291,358              TOTAL REVENUES 2,325,513        15,698,346      2,066,723        13,597,031       8,587,346          12,572,886      10,066,374        EXPENSES: Personnel 674,075           426,817           1,070,421        3,226,180         1,777,776           ‐                         2,750,768           Supplies 22,085              3,252                242,422           595,044             50,287                ‐                         81,508                Contracted Services 273,775           13,634,509      126,244           2,231,475         1,496,208          13,784,380      1,309,798           Internal Services 235,446           340,558           256,533           1,550,720         1,100,375           ‐                         1,306,639           TOTAL OPERATING EXPENSES 1,205,381        14,405,136      1,695,620        7,603,419         4,424,646          13,784,380      5,448,713           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,120,132        1,293,210        371,103           5,993,612         4,162,700          (1,211,494)       4,617,661           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         443,768              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         443,768              CAPITAL OUTLAY 223,324            ‐                          ‐                         2,369,026         529,316              ‐                         1,242,968           TRANSFERS IN ‐                          ‐                         57,000               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         59,695              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 895,445           1,293,210        368,408           3,172,843         3,587,986          (1,211,494)       2,930,925           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, Sep 30 7,154,847$      3,559,337$      542,158$         40,741,910$     23,420,337$     4,750,412$      21,308,481$      Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                            ‐$                           187,471$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                  49,690                   ‐                             35,245                   Charges for services: Equipment rental m&o 2,274,566             ‐                             4,030,021             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             132,867                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             241,693                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             3,112,332             ‐                              ‐                              ‐                              Interest and other misc 45,332                  120,483                29,671                  8,265                    4,870                    36,977                  104,196                 Internal service fund misc: Vehicle / equipment capital recovery 481,709                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,273,582             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,052,850             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             8,611,547            1,218,513             Other misc 231                         ‐                             1,942                    1                             ‐                             85,917                   ‐                              Insurance recoveries ‐                             55,807                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 2,801,838            2,502,722            4,249,105            3,142,433            429,120                8,734,441            1,357,954             EXPENSES: Personnel 798,378                670,218                2,168,041            2,184,104            633,054                6,992,371            801,415                 Supplies 737,840                401                        286,595                321,244                21,971                  6,881                     ‐                              Contracted Services 179,479                1,691,105            1,492,963            992,662                180,501                381,304                35,925                   Internal Services 24,523                   ‐                             1,353                    51,365                  2,956                    45,322                   ‐                              TOTAL OPERATING EXPENSES 1,740,220            2,361,724            3,948,952            3,549,375            838,482                7,425,878            837,340                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,061,618            140,998                300,153                (406,942)              (409,362)              1,308,563            520,614                 CAPITAL OUTLAY 1,152,126             ‐                             41,144                  5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             15,392                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                             4,500,000             ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                             (4,500,000)           15,392                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE (90,508)                 (4,359,002)           274,401                (404,050)              (413,591)              1,308,563            520,614                 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, Sep 30 6,761,303$          14,736,506$        4,764,463$          816,226$             389,970$             6,460,211$          16,320,343$         Monthly Financial Report                                                               City of Renton, Washington September 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 128,895                 ‐                               Investment Earnings 14,163                   41,156                    TOTAL REVENUES 143,058                207,073                 EXPENDITURES: Personnel ‐                              156,508                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              159,908                 NET TRANSFERS (113,806)                ‐                               CHANGE IN FUND BALANCE 29,252                   47,165                    BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Sep 30 2,149,810$           7,613,067$            Monthly Financial Report                                                               City of Renton, Washington September 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 September 30, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  09/30/20 Total Funds  Available Budgeted  Expenditure Expenditure  09/30/20 Ending Balance GENERAL FUND 48,056,982      131,167,346    87,722,429      135,779,411    124,162,622    82,897,980      52,881,431       SPECIAL REVENUE FUNDS: 1,992,172        1,315,447        1,327,513        3,319,685        1,673,139        381,406           2,938,279         110 Hotel Motel 943,889           200,000           215,714           1,159,603        466,562           238,661           920,942            125 Municipal Art 98,865             180,660           181,685           280,550           271,790           48,658             231,892            127 Cable Communication 603,760           97,674             64,926             668,686           97,674             29,830             638,856            135 Springbrook Wetlands Bank 345,658            ‐                       2,251               347,909            ‐                        ‐                       347,909            140 Police Seizure ‐                       711,102           721,431           721,431           711,102           62,756             658,675            141 Police CSAM Seizure ‐                       126,011           141,506           141,506           126,011           1,501               140,005            DEBT SERVICE FUND 3,999,457        8,143,007        3,295,011        7,294,468        7,162,386        1,559,064        5,735,404         CAPITAL PROJECT FUNDS (CIP): 61,310,922      41,900,304      12,876,931      74,187,853      87,003,334      15,943,439      58,244,414       303 Community Services Mitigation 1,886,999        86,500             519,663           2,406,662        945,909            ‐                       2,406,662         305 Transportation Mitigation 2,942,344        1,435,875        1,713,707        4,656,051        1,811,987         ‐                       4,656,051         308 REET1 ‐                       3,143,855        3,383,005        3,383,005        1,775,000         ‐                       3,383,005         309 REET2 ‐                       3,143,855        3,383,005        3,383,005        1,775,000         ‐                       3,383,005         316 Municipal Facilities CIP 26,395,567      6,880,571        1,291,628        27,687,195      32,171,063      8,261,997        19,425,198       317 Transportation CIP 18,947,853      27,128,339      2,524,842        21,472,695      45,298,768      4,845,473        16,627,222       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             54,501             8,605,902        648,948           259,310           8,346,592         ENTERPRISE FUNDS: 90,440,159      99,238,882      64,971,219      155,411,378    153,576,378    53,933,896      101,477,482     4X2 Airport Operating & CIP 6,259,402        3,051,767        2,325,513        8,584,915        7,848,424        1,430,068        7,154,847         403 Solid Waste Utility 2,266,127        19,616,816      15,698,346      17,964,473      19,367,083      14,405,136      3,559,337         4X4 Golf Operating & CIP 173,750           2,872,920        2,123,723        2,297,473        2,476,682        1,755,315        542,158            4X5 Water Operating & CIP 37,569,067      19,516,652      13,597,031      51,166,098      49,940,511      10,424,188      40,741,910       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      8,587,346        28,419,697      25,800,350      4,999,360        23,420,337       416 King County Metro 5,961,906        17,007,226      12,572,886      18,534,792      17,007,226      13,784,380      4,750,412         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      10,066,374      28,443,930      31,136,102      7,135,449        21,308,481       INTERNAL SERVICE FUNDS: 53,412,595      30,866,021      23,241,601      76,654,196      40,371,739      26,405,174      50,249,022       501 Equipment Repair/Replacement 6,851,811        3,599,714        2,801,838        9,653,649        4,815,199        2,892,346        6,761,303         502 Insurance 19,095,508      3,371,506        2,502,722        21,598,230      7,829,878        6,861,724        14,736,506       503 Information Services 4,490,062        5,509,868        4,264,497        8,754,559        7,635,416        3,990,096        4,764,463         504 Facilities 1,220,276        4,313,651        3,151,029        4,371,305        5,079,561        3,555,079        816,226            505 Communications 803,561           1,177,126        429,120           1,232,681        1,263,537        842,711           389,970            512 Insurance, Healthcare 5,151,648        12,649,694      8,734,441        13,886,089      12,499,905      7,425,878        6,460,211         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           1,357,954        17,157,683      1,248,243        837,340           16,320,343       FIDUCIARY FUNDS: 9,686,460        567,000           350,131           10,036,591      314,283           273,714           9,762,877         304 Fire Mitigation 2,120,558        99,000             143,058           2,263,616        113,808           113,806           2,149,810         611 Firemens' Pension 7,565,902        468,000           207,073           7,772,975        200,475           159,908           7,613,067         TOTAL FUNDS 268,898,747 313,198,007 193,784,835 462,683,582 414,263,881 181,394,673 281,288,909