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HomeMy WebLinkAboutMONTH 2020 10Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through October 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 66,589,482$       Licenses and permits 4,237,256            Grants / intergovernmental 3,636,618            Charges for services 6,270,168            Fines and penalties 2,787,570            Contributions 1,220,883            Sale of general fixed assets 18,850                  Investment Earnings 857,968               Insurance recoveries 4,566                    TOTAL REVENUES 85,623,361          EXPENDITURES: Personnel 49,294,014          Supplies 1,217,556            Contracted Services 15,738,129          Capital Outlay 272,648               Internal Services 10,441,235          TOTAL EXPENDITURES 76,963,582          TRANSFERS IN 21,551,170          TRANSFERS OUT 21,340,061          NET TRANSFERS 211,109               CHANGE IN FUND BALANCE 8,870,888            BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Oct 31 56,927,870          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,497,443            AVAILABLE FUND BALANCE, Oct 31 44,930,427$       Monthly Financial Report October 2020  Monthly Financial Report                                                               City of Renton, Washington October 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 31,307                    TOTAL REVENUES 446,812                 EXPENDITURES: Principal 580,922                 Interest 978,142                 TOTAL EXPENDITURES 1,559,064              TRANSFERS IN 5,259,682              NET TRANSFERS 5,259,682              CHANGE IN FUND BALANCE 4,147,430              BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Oct 31 8,146,887$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 202,684$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              80,144                    ‐                               ‐                               ‐                               Contributions 30,000                    ‐                               ‐                               ‐                              8,715                     15,958                    Investment Earnings 6,873                     1,138                     4,357                     2,418                     1,933                     379                         TOTAL REVENUES 239,557                1,138                     84,501                   2,418                     10,648                   16,337                    EXPENDITURES: Supplies ‐                              90                            ‐                               ‐                              34,869                    ‐                               Contracted Services 221,577                70,234                   35,250                    ‐                              28,025                   1,501                      Capital Outlay ‐                              73,130                    ‐                               ‐                              20,886                    ‐                               TOTAL EXPENDITURES 221,577                143,455                35,250                    ‐                              83,780                   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 (19,520)                 38,343                   49,251                   2,418                     637,970                140,847                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Oct 31 924,369$              137,208$              653,011$              348,076$              637,970$              140,847$               Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                         ‐$                        2,557,663$       2,557,663$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          1,717,330         1,742,211          ‐                           ‐                           ‐                           Charges for services 551,973            1,785,355          ‐                           ‐                          140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          22,699                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          560,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 15,092               24,882               7,382                 7,382                 185,882            128,570            6,309                 271                    58,534                TOTAL REVENUES 567,065            1,810,237         2,565,045         2,565,045         2,463,352         2,143,480         6,309                 271                    58,534                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          414,780            87,889                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                          867,981            153,935             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          519,048            120,044             ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          5,239,926         5,428,012          ‐                           ‐                          264,031             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          7,041,735         5,789,880          ‐                           ‐                          264,031             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 567,065            1,810,237         3,708,900         3,708,900         (6,902,063)        (2,886,400)        (2,570,350)        271                    (205,497)            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, Oct 31 2,454,064$       4,752,581$       3,708,900$       3,708,900$       19,493,504$    16,061,453$     ‐$                        16,679$            8,345,904$        Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                        ‐$                        ‐$                        ‐$                        90,275$              ‐$                       61,100$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         934,967              Charges for services 77,190              16,759,908      2,011,455        14,725,227       8,978,726          14,041,781      10,082,014        Fines and penalties ‐                          ‐                          ‐                         5,600                 263                      ‐                          ‐                            Rents, leases, and misc fees 2,437,726         ‐                         307,408           242,524              ‐                            ‐                          ‐                            Interest and other misc 46,430              22,399              (767)                  688,690             533,820             42,223              314,910              TOTAL REVENUES 2,561,346        16,871,971      2,318,096        15,662,041       9,603,084          14,084,004      11,392,991        EXPENSES: Personnel 739,933           470,529           1,203,063        3,562,768         1,960,515           ‐                         3,023,565           Supplies 28,022              4,621                267,697           647,344             56,850                ‐                         102,259              Contracted Services 311,997           14,422,840      137,681           2,491,836         1,664,503          15,194,417      1,501,549           Internal Services 261,677           377,670           285,028           1,729,932         1,224,920           ‐                         1,464,617           TOTAL OPERATING EXPENSES 1,341,629        15,275,660      1,893,469        8,431,880         4,906,788          15,194,417      6,091,990           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,219,717        1,596,311        424,627           7,230,161         4,696,296          (1,110,413)       5,301,001           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         487,101              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         487,101              CAPITAL OUTLAY 241,234            ‐                          ‐                         2,518,501         589,975              ‐                         1,446,107           TRANSFERS IN ‐                          ‐                         63,333               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                 ‐                         66,028              330                      ‐                            ‐                          ‐                            NET TRANSFERS (1,363)                ‐                         (2,695)               (330)                    ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 977,120           1,596,311        421,932           4,259,917         4,060,923          (1,110,413)       3,367,793           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, Oct 31 7,236,522$      3,862,438$      595,682$         41,828,984$     23,893,274$     4,851,493$      21,745,349$      Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                            ‐$                           211,717$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 2,523,282             ‐                             4,477,801             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             147,630                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             268,549                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             3,458,146             ‐                              ‐                              ‐                              Interest and other misc 48,598                  127,564                31,973                  8,664                    5,058                    40,091                  112,054                 Internal service fund misc: Vehicle / equipment capital recovery 535,232                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,415,091             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,165,114             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             9,128,846            1,353,903             Other misc 231                         ‐                             1,942                    1                            49,690                  85,917                   ‐                              Insurance recoveries ‐                             57,885                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,126,295            2,765,654            4,723,433            3,488,646            470,927                9,254,854            1,501,202             EXPENSES: Personnel 878,094                731,278                2,417,462            2,394,713            692,990                8,054,357            873,385                 Supplies 818,261                401                        319,440                338,203                23,467                  6,930                     ‐                              Contracted Services 207,000                1,749,390            1,811,067            1,127,609            194,759                419,349                39,183                   Internal Services 27,248                   ‐                             1,503                    57,009                  3,284                    50,358                   ‐                              TOTAL OPERATING EXPENSES 1,930,603            2,481,069            4,549,472            3,917,534            914,500                8,530,994            912,568                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,195,692            284,585                173,961                (428,888)              (443,573)              723,860                588,634                 CAPITAL OUTLAY 1,302,915             ‐                             118,800                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 (107,223)              (4,215,415)           70,553                  (425,996)              (447,802)              723,860                588,634                 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, Oct 31 6,744,588$          14,880,093$        4,560,615$          794,280$             355,759$             5,875,508$          16,388,363$         Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                            165,916$               Charges for services 138,987                 ‐                               Investment Earnings 15,202                   44,391                    TOTAL REVENUES 154,189                210,307                 EXPENDITURES: Personnel ‐                              174,033                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              177,433                 NET TRANSFERS (113,806)                ‐                               CHANGE IN FUND BALANCE 40,383                   32,874                    BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Oct 31 2,160,941$           7,598,776$            Monthly Financial Report                                                               City of Renton, Washington October 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 October 31, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  10/31/20 Total Funds  Available Budgeted  Expenditure Expenditure  10/31/20 Ending Balance GENERAL FUND 48,056,982      131,167,346    107,174,531    155,231,513    124,162,622    98,303,643      56,927,870       SPECIAL REVENUE FUNDS: 1,992,172        1,315,447        1,372,372        3,364,544        1,673,139        523,063           2,841,481         110 Hotel Motel 943,889           200,000           239,557           1,183,446        466,562           259,077           924,369            125 Municipal Art 98,865             180,660           181,798           280,663           271,790           143,455           137,208            127 Cable Communication 603,760           97,674             84,501             688,261           97,674             35,250             653,011            135 Springbrook Wetlands Bank 345,658            ‐                       2,418               348,076            ‐                        ‐                       348,076            140 Police Seizure ‐                       711,102           721,750           721,750           711,102           83,780             637,970            141 Police CSAM Seizure ‐                       126,011           142,348           142,348           126,011           1,501               140,847            DEBT SERVICE FUND 3,999,457        8,143,007        5,706,494        9,705,951        7,162,386        1,559,064        8,146,887         CAPITAL PROJECT FUNDS (CIP): 61,310,922      41,900,304      15,227,048      76,537,970      87,003,334      17,995,985      58,541,985       303 Community Services Mitigation 1,886,999        86,500             567,065           2,454,064        945,909            ‐                       2,454,064         305 Transportation Mitigation 2,942,344        1,435,875        1,810,237        4,752,581        1,811,987         ‐                       4,752,581         308 REET1 ‐                       3,143,855        3,708,900        3,708,900        1,775,000         ‐                       3,708,900         309 REET2 ‐                       3,143,855        3,708,900        3,708,900        1,775,000         ‐                       3,708,900         316 Municipal Facilities CIP 26,395,567      6,880,571        2,463,352        28,858,919      32,171,063      9,365,415        19,493,504       317 Transportation CIP 18,947,853      27,128,339      2,903,480        21,851,333      45,298,768      5,789,880        16,061,453       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             58,534             8,609,935        648,948           264,031           8,345,904         ENTERPRISE FUNDS: 90,440,159      99,238,882      72,556,866      162,997,025    153,576,378    58,983,283      104,013,742     4X2 Airport Operating & CIP 6,259,402        3,051,767        2,561,346        8,820,748        7,848,424        1,584,226        7,236,522         403 Solid Waste Utility 2,266,127        19,616,816      16,871,971      19,138,098      19,367,083      15,275,660      3,862,438         4X4 Golf Operating & CIP 173,750           2,872,920        2,381,429        2,555,179        2,476,682        1,959,497        595,682            4X5 Water Operating & CIP 37,569,067      19,516,652      15,662,041      53,231,108      49,940,511      11,402,124      41,828,984       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      9,603,084        29,435,435      25,800,350      5,542,161        23,893,274       416 King County Metro 5,961,906        17,007,226      14,084,004      20,045,910      17,007,226      15,194,417      4,851,493         4X7 Surface Water Operating & CIP 18,377,556      25,542,717      11,392,991      29,770,547      31,136,102      8,025,198        21,745,349       INTERNAL SERVICE FUNDS: 53,412,595      30,866,021      25,354,999      78,767,594      40,371,739      29,168,388      49,599,206       501 Equipment Repair/Replacement 6,851,811        3,599,714        3,126,295        9,978,106        4,815,199        3,233,518        6,744,588         502 Insurance 19,095,508      3,371,506        2,765,654        21,861,162      7,829,878        6,981,069        14,880,093       503 Information Services 4,490,062        5,509,868        4,738,825        9,228,887        7,635,416        4,668,272        4,560,615         504 Facilities 1,220,276        4,313,651        3,497,242        4,717,518        5,079,561        3,923,238        794,280            505 Communications 803,561           1,177,126        470,927           1,274,488        1,263,537        918,729           355,759            512 Insurance, Healthcare 5,151,648        12,649,694      9,254,854        14,406,502      12,499,905      8,530,994        5,875,508         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           1,501,202        17,300,931      1,248,243        912,568           16,388,363       FIDUCIARY FUNDS: 9,686,460        567,000           364,496           10,050,956      314,283           291,239           9,759,717         304 Fire Mitigation 2,120,558        99,000             154,189           2,274,747        113,808           113,806           2,160,941         611 Firemens' Pension 7,565,902        468,000           210,307           7,776,209        200,475           177,433           7,598,776         TOTAL FUNDS 268,898,747 313,198,007 227,756,806 496,655,553 414,263,881 206,824,665 289,830,888