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HomeMy WebLinkAboutMONTH 2020 11Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through November 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 73,966,026$       Licenses and permits 4,756,045            Grants / intergovernmental 6,675,992            Charges for services 6,808,222            Fines and penalties 3,020,501            Contributions 1,386,531            Sale of general fixed assets 19,600                  Investment Earnings 929,451               Insurance recoveries 4,566                    TOTAL REVENUES 97,566,934          EXPENDITURES: Personnel 54,286,611          Supplies 1,379,551            Contracted Services 18,442,726          Capital Outlay 290,026               Internal Services 11,482,169          TOTAL EXPENDITURES 86,056,083          TRANSFERS IN 21,551,170          TRANSFERS OUT 21,343,624          NET TRANSFERS 207,546               CHANGE IN FUND BALANCE 11,718,397          BEGINNING FUND BALANCE, Jan 1 48,056,982          ENDING FUND BALANCE, Nov 30 59,775,379          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 13,994,674          AVAILABLE FUND BALANCE, Oct 31 43,280,705$       Monthly Financial Report November 2020  Monthly Financial Report                                                               City of Renton, Washington November 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 34,540                    TOTAL REVENUES 450,045                 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 4,150,663              BEGINNING FUND BALANCE, Jan 1 3,999,457              ENDING FUND BALANCE, Nov 30 8,150,120$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 218,758$               ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              80,144                    ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              12,986                    Contributions 30,000                    ‐                               ‐                               ‐                              8,716                     8,356                      Investment Earnings 7,243                     1,175                     4,615                     2,556                     2,184                     437                         TOTAL REVENUES 256,001                1,175                     84,759                   2,556                     10,900                   21,779                    EXPENDITURES: Supplies ‐                              100                         ‐                               ‐                              36,319                    ‐                               Contracted Services 228,165                116,439                37,080                    ‐                              32,532                   1,501                      Capital Outlay ‐                              73,130                    ‐                               ‐                              20,886                    ‐                               TOTAL EXPENDITURES 228,165                189,669                37,080                    ‐                              89,737                   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 (9,664)                    (7,834)                    47,679                   2,556                     632,265                146,289                 BEGINNING FUND BALANCE, Jan 1 943,889                98,865                   603,760                345,658                 ‐                               ‐                               ENDING FUND BALANCE, Nov 30 934,225$              91,031$                651,439$              348,214$              632,265$              146,289$               Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                         ‐$                        2,792,091$       2,792,090$        ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          1,885,956         2,381,974          ‐                           ‐                           ‐                           Charges for services 575,647            1,844,443          ‐                           ‐                          140                    250,000             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          23,276                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                          560,000             ‐                           ‐                           ‐                           ‐                           Investment Earnings 16,074               26,790               8,951                 8,951                 193,347            134,924            6,309                 271                    61,844                TOTAL REVENUES 591,721            1,871,233         2,801,042         2,801,041         2,639,443         2,790,174         6,309                 271                    61,844                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          448,851            95,831                ‐                           ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                          867,981            155,655             ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          545,531            128,466             ‐                           ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          6,139,722         6,362,720          ‐                           ‐                          268,060             TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          8,002,085         6,742,672          ‐                           ‐                          268,060             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 591,721            1,871,233         3,944,897         3,944,896         (7,686,322)        (3,192,498)        (2,570,350)        271                    (206,216)            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, Nov 30 2,478,720$       4,813,577$       3,944,897$       3,944,896$       18,709,245$    15,755,355$     ‐$                        16,679$            8,345,185$        Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                        ‐$                        ‐$                        ‐$                        97,025$              ‐$                       64,100$              Grants / intergovernmental ‐                         89,664               ‐                          ‐                           ‐                            ‐                         937,484              Charges for services 82,120              17,895,718      2,140,002        16,038,666       9,851,310          15,400,437      11,034,565        Fines and penalties ‐                          ‐                          ‐                         5,600                 263                      ‐                          ‐                            Rents, leases, and misc fees 2,697,236         ‐                         319,542           254,911              ‐                            ‐                          ‐                            Interest and other misc 89,383              23,132              (308)                  816,286             609,649             44,121              348,500              TOTAL REVENUES 2,868,739        18,008,514      2,459,236        17,115,463       10,558,247       15,444,558      12,384,649        EXPENSES: Personnel 813,940           511,836           1,323,133        3,927,572         2,175,040           ‐                         3,329,980           Supplies 29,097              5,489                277,231           746,944             64,137                ‐                         111,538              Contracted Services 340,180           17,550,826      176,333           2,734,963         1,839,158          16,604,453      1,618,806           Internal Services 287,831           417,893           313,523           1,901,795         1,345,036           ‐                         1,611,786           TOTAL OPERATING EXPENSES 1,471,048        18,486,044      2,090,220        9,311,274         5,423,371          16,604,453      6,672,110           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,397,691        (477,530)          369,016           7,804,189         5,134,876          (1,159,895)       5,712,539           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         105,595             45,398                ‐                         530,434              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         451,413             45,398                ‐                         530,434              CAPITAL OUTLAY 278,132            ‐                          ‐                         2,566,980         609,426              ‐                         1,516,979           TRANSFERS IN ‐                          ‐                         69,667               ‐                           ‐                            ‐                          ‐                            TRANSFERS OUT 1,363                284                   72,362              614                     284                      ‐                         284                      NET TRANSFERS (1,363)               (284)                  (2,695)               (614)                   (284)                     ‐                         (284)                     CHANGE IN FUND BALANCE 1,118,196        (477,814)          366,321           4,785,182         4,479,768          (1,159,895)       3,664,842           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, Nov 30 7,377,598$      1,788,313$      540,071$         42,354,249$     24,312,119$     4,802,011$      22,042,398$      Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                            ‐$                           228,094$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                             21,835                   ‐                              ‐                             35,245                   Charges for services: Equipment rental m&o 2,809,823             ‐                             4,925,581             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             162,393                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             295,406                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             3,803,961             ‐                              ‐                              ‐                              Interest and other misc 51,104                  133,529                33,799                  8,991                    5,190                    42,804                  118,590                 Internal service fund misc: Vehicle / equipment capital recovery 588,755                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,556,600             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,276,210             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             10,112,371          1,489,294             Other misc 246                         ‐                             1,942                    1                            49,690                  179,199                 ‐                              Insurance recoveries ‐                             62,268                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,477,712            3,203,607            5,189,416            3,834,788            512,679                10,334,374          1,643,129             EXPENSES: Personnel 964,594                783,772                2,642,273            2,626,545            747,548                8,878,514            963,463                 Supplies 895,557                401                        400,342                355,262                24,204                  6,930                     ‐                              Contracted Services 240,991                1,795,511            1,934,989            1,194,749            199,217                446,283                42,440                   Internal Services 29,972                   ‐                             1,654                    62,654                  3,613                    55,394                   ‐                              TOTAL OPERATING EXPENSES 2,131,114            2,579,684            4,979,258            4,239,210            974,582                9,387,121            1,005,903             AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,346,598            623,923                210,158                (404,422)              (461,903)              947,253                637,226                 CAPITAL OUTLAY 1,876,602             ‐                             113,520                5,704                     ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             20,092                  8,596                     ‐                              ‐                              ‐                              TRANSFERS OUT ‐                             4,500,000             ‐                              ‐                             4,229                     ‐                              ‐                              NET TRANSFERS ‐                             (4,500,000)           20,092                  8,596                    (4,229)                    ‐                              ‐                              CHANGE IN FUND BALANCE (530,004)              (3,876,077)           116,730                (401,530)              (466,132)              947,253                637,226                 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, Nov 30 6,321,807$          15,219,431$        4,606,792$          818,746$             337,429$             6,098,901$          16,436,955$         Monthly Financial Report                                                               City of Renton, Washington November 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 144,796                 ‐                               Investment Earnings 16,061                   377,135                 TOTAL REVENUES 160,857                543,052                 EXPENDITURES: Personnel ‐                              191,558                 Contracted Services ‐                              3,400                      TOTAL EXPENDITURES ‐                              194,958                 NET TRANSFERS (113,806)                ‐                               CHANGE IN FUND BALANCE 47,051                   348,094                 BEGINNING FUND BALANCE, Jan 1 2,120,558             7,565,902              ENDING FUND BALANCE, Nov 30 2,167,609$           7,913,996$            Monthly Financial Report                                                               City of Renton, Washington November 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 November 30, 2020 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  11/30/20 Total Funds  Available Budgeted  Expenditure Expenditure  11/30/20 Ending Balance GENERAL FUND 48,056,982      120,126,171    119,118,104    167,175,086    128,735,615    107,399,707    59,775,379       SPECIAL REVENUE FUNDS: 1,992,172        1,340,447        1,394,943        3,387,115        1,660,639        583,652           2,803,463         110 Hotel Motel 943,889           225,000           256,001           1,199,890        454,062           265,665           934,225            125 Municipal Art 98,865             180,660           181,835           280,700           271,790           189,669           91,031              127 Cable Communication 603,760           97,674             84,759             688,519           97,674             37,080             651,439            135 Springbrook Wetlands Bank 345,658            ‐                       2,556               348,214            ‐                        ‐                       348,214            140 Police Seizure ‐                       711,102           722,002           722,002           711,102           89,737             632,265            141 Police CSAM Seizure ‐                       126,011           147,790           147,790           126,011           1,501               146,289            DEBT SERVICE FUND 3,999,457        8,150,984        5,709,727        9,709,184        7,162,386        1,559,064        8,150,120         CAPITAL PROJECT FUNDS (CIP): 61,310,922      47,968,831      16,610,788      77,921,710      94,341,343      19,913,156      58,008,554       303 Community Services Mitigation 1,886,999        86,500             591,721           2,478,720        945,909            ‐                       2,478,720         305 Transportation Mitigation 2,942,344        1,435,875        1,871,233        4,813,577        1,811,987         ‐                       4,813,577         308 REET1 ‐                       3,143,855        3,944,897        3,944,897        2,421,000         ‐                       3,944,897         309 REET2 ‐                       3,143,855        3,944,896        3,944,896        1,692,404         ‐                       3,944,896         316 Municipal Facilities CIP 26,395,567      7,342,571        2,639,443        29,035,010      32,633,063      10,325,765      18,709,245       317 Transportation CIP 18,947,853      32,734,866      3,550,174        22,498,027      51,611,373      6,742,672        15,755,355       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             61,844             8,613,245        648,948           268,060           8,345,185         ENTERPRISE FUNDS: 90,440,159      99,363,882      78,909,073      169,349,232    153,745,949    66,132,473      103,216,759     4X2 Airport Operating & CIP 6,259,402        3,051,767        2,868,739        9,128,141        7,899,870        1,750,543        7,377,598         403 Solid Waste Utility 2,266,127        19,616,816      18,008,514      20,274,641      19,367,083      18,486,328      1,788,313         4X4 Golf Operating & CIP 173,750           2,872,920        2,528,903        2,702,653        2,476,682        2,162,582        540,071            4X5 Water Operating & CIP 37,569,067      19,516,652      17,115,463      54,684,530      49,940,511      12,330,281      42,354,249       4X6 Waste Water Operating & CIP 19,832,351      11,630,784      10,558,247      30,390,598      25,800,350      6,078,479        24,312,119       416 King County Metro 5,961,906        17,007,226      15,444,558      21,406,464      17,007,226      16,604,453      4,802,011         4X7 Surface Water Operating & CIP 18,377,556      25,667,717      12,384,649      30,762,205      31,254,227      8,719,807        22,042,398       INTERNAL SERVICE FUNDS: 53,412,595      30,876,748      28,224,393      81,636,988      40,470,120      31,796,927      49,840,061       501 Equipment Repair/Replacement 6,851,811        3,599,714        3,477,712        10,329,523      4,905,199        4,007,716        6,321,807         502 Insurance 19,095,508      3,371,506        3,203,607        22,299,115      7,829,878        7,079,684        15,219,431       503 Information Services 4,490,062        5,520,595        5,209,508        9,699,570        7,643,797        5,092,778        4,606,792         504 Facilities 1,220,276        4,313,651        3,843,384        5,063,660        5,079,561        4,244,914        818,746            505 Communications 803,561           1,177,126        512,679           1,316,240        1,263,537        978,811           337,429            512 Insurance, Healthcare 5,151,648        12,649,694      10,334,374      15,486,022      12,499,905      9,387,121        6,098,901         522 Insurance, Leoff1 Retirees HC 15,799,729      244,462           1,643,129        17,442,858      1,248,243        1,005,903        16,436,955       FIDUCIARY FUNDS: 9,686,460        567,000           703,909           10,390,369      314,283           308,764           10,081,605       304 Fire Mitigation 2,120,558        99,000             160,857           2,281,415        113,808           113,806           2,167,609         611 Firemens' Pension 7,565,902        468,000           543,052           8,108,954        200,475           194,958           7,913,996         TOTAL FUNDS 268,898,747 308,394,063 250,670,937 519,569,684 426,430,335 227,693,743 291,875,941