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HomeMy WebLinkAboutMONTH 2021 01Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through January 31,  2021. 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 4,257,418$          Licenses and permits 815,035               Grants / intergovernmental 366,729               Charges for services 318,813               Fines and penalties 165,392               Contributions 56,912                  Investment Earnings 23,750                  Insurance recoveries 12,434                  TOTAL REVENUES 6,016,483            EXPENDITURES: Personnel 4,690,505            Supplies 13,715                  Contracted Services 795,277               Internal Services 4,751                    TOTAL EXPENDITURES 5,504,248            TRANSFERS OUT 3,130                    NET TRANSFERS (3,130)                   CHANGE IN FUND BALANCE 509,105               BEGINNING FUND BALANCE, Jan 1 54,391,582          ENDING FUND BALANCE, Jan 31 54,900,687          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 8,600,000            AVAILABLE FUND BALANCE, Jan 31 43,800,687$       Monthly Financial Report January 2021  Monthly Financial Report                                                               City of Renton, Washington January 2021  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: Investment Earnings 1,817$                    TOTAL REVENUES 1,817                      EXPENDITURES: TOTAL EXPENDITURES ‐                               NET TRANSFERS ‐                               CHANGE IN FUND BALANCE 1,817                      BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Jan 31 5,012,446$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 14,782$                 ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              18,900                    ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              4,635                      Investment Earnings 333                        30                           246                        126                        333                        54                            TOTAL REVENUES 15,115                   30                           19,146                   126                        333                        4,689                      EXPENDITURES: Contracted Services 12,500                    ‐                               ‐                               ‐                               ‐                               ‐                               TOTAL EXPENDITURES 12,500                    ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 2,615                     30                           19,146                   126                        333                        4,689                      BEGINNING FUND BALANCE, Jan 1 893,604                65,000                   677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Jan 31 896,219$              65,030$                696,856$              348,952$              872,782$              155,326$               Monthly Financial Report                                                               City of Renton, Washington January 2021  Page 3 of 7   CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The  table below displays the year‐to‐date revenues and expenditures for the City’s capital project funds.      CS Impact Mitigation Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                        251,414$          251,414$           ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          356,665            17,500                ‐                           ‐                           Charges for services 48,039               101,665             ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          138                     ‐                           ‐                           Investment Earnings 705                    1,137                 739                    1,235                 7,506                 6,615                  ‐                          3,021                  TOTAL REVENUES 48,744               102,802            252,153            252,649            364,171            24,253                ‐                          3,021                  EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          13,281               6,375                  ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          10,200               (53,476)              ‐                           ‐                           TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          23,481               (47,101)              ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 48,744               102,802            252,153            252,649            340,690            71,354                ‐                          3,021                  BEGINNING FUND BALANCE, Jan 1 1,713,833         3,154,954         2,042,269         3,411,866         20,298,663       16,792,413       16,679               8,356,704          ENDING FUND BALANCE, Jan 31 1,762,577$       3,257,756$       2,294,422$       3,664,515$       20,639,353$    16,863,767$    16,679$            8,359,725$        Monthly Financial Report                                                               City of Renton, Washington January 2021  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 ‐$                        ‐$                        ‐$                        ‐$                        9,750$                ‐$                       6,000$                Charges for services 7,325                1,299,603        123,179           1,263,361         925,220             1,439,039        1,113,013           Fines and penalties ‐                          ‐                          ‐                          ‐                          695                      ‐                          ‐                            Rents, leases, and misc fees 249,629            ‐                         8,504                17,710                ‐                            ‐                          ‐                            Interest and other misc 2,770                1,238                384                   43,304               37,229               1,704                20,511                TOTAL REVENUES 259,724           1,300,841        132,067           1,324,375         972,894             1,440,743        1,139,524           EXPENSES: Personnel 82,577              36,218              113,402           378,985             189,854              ‐                         313,904              Supplies 1,269                149                   20,790              17,453               493                      ‐                         4,735                   Contracted Services 21,063              718,132           5,952                148,594             157,883             1,456,660        91,444                Internal Services 686                   2,147                 ‐                         2,370                 1,958                   ‐                         8,258                   TOTAL OPERATING EXPENSES 105,595           756,646           140,144           547,402             350,188             1,456,660        418,341              AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 154,129           544,195           (8,077)               776,973             622,706             (15,917)            721,183              TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY ‐                          ‐                          ‐                         44,821               19,165                ‐                         36,069                NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 154,129           544,195           (8,077)               732,152             603,541             (15,917)            685,114              BEGINNING FUND BALANCE, Jan 1 7,558,405        2,771,562        476,746           40,776,314       23,996,217       4,729,749        21,610,356        ENDING FUND BALANCE, Jan 31 7,712,534$      3,315,757$      468,669$         41,508,466$     24,599,758$     4,713,832$      22,295,470$      Monthly Financial Report                                                               City of Renton, Washington January 2021  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 ‐$                            ‐$                           12,037$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 9,710                     ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Interest and other misc 2,331                    7,176                    1,591                    250                        56                          2,107                    5,969                     Internal service fund misc: Worker's comp/unemployment ‐                             112,366                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             1,004,815             ‐                              Other misc ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             17,132                   TOTAL REVENUES 12,041                  158,422                13,628                  250                        56                          1,006,922            23,101                   EXPENSES: Personnel 87,650                  94,960                  241,125                237,958                56,688                  809,803                65,638                   Supplies 43,452                   ‐                              ‐                             1,257                    589                         ‐                              ‐                              Contracted Services 27,985                  541,622                59,386                  30,164                  12,527                  48,932                  5,912                     Internal Services ‐                              ‐                              ‐                             19                           ‐                              ‐                              ‐                              TOTAL OPERATING EXPENSES 159,087                636,582                300,511                269,398                69,804                  858,735                71,550                   AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (147,046)              (478,160)              (286,883)              (269,148)              (69,748)                 148,187                (48,449)                  CAPITAL OUTLAY 81,118                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             3,130                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             3,130                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE (228,164)              (478,160)              (283,753)              (269,148)              (69,748)                 148,187                (48,449)                  BEGINNING FUND BALANCE, Jan 1 6,376,259            19,860,208          3,939,941            504,167                151,624                5,773,429            16,541,245           ENDING FUND BALANCE, Jan 31 6,148,095$          19,382,048$        3,656,188$          235,019$             81,876$                5,921,616$          16,492,796$         Monthly Financial Report                                                               City of Renton, Washington January 2021  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: Charges for services 10,787$                 ‐$                             Investment Earnings 791                        2,567                      TOTAL REVENUES 11,578                   2,567                      EXPENDITURES: Personnel ‐                              19,841                    TOTAL EXPENDITURES ‐                              19,841                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 11,578                   (17,274)                  BEGINNING FUND BALANCE, Jan 1 2,191,452             7,908,312              ENDING FUND BALANCE, Jan 31 2,203,030$           7,891,038$            Monthly Financial Report                                                               City of Renton, Washington January 2021  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 Kari Roller at kroller@rentonwa.gov.   City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through January 31, 2021 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  01/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  01/31/21 Ending Balance GENERAL FUND 54,391,582      111,532,172    6,016,483        60,408,065      127,506,500    5,507,378        54,900,687       SPECIAL REVENUE FUNDS: 3,008,226        415,574           39,439             3,047,665        215,574           12,500             3,035,165         110 Hotel Motel 893,604           200,000           15,115             908,719            ‐                       12,500             896,219            125 Municipal Art 65,000             117,900           30                    65,030             117,900            ‐                       65,030              127 Cable Communication 677,710           97,674             19,146             696,856           97,674              ‐                       696,856            135 Springbrook Wetlands Bank 348,826            ‐                       126                  348,952            ‐                        ‐                       348,952            140 Police Seizure 872,449            ‐                       333                  872,782            ‐                        ‐                       872,782            141 Police CSAM Seizure 150,637            ‐                       4,689               155,326            ‐                        ‐                       155,326            DEBT SERVICE FUND 5,010,629        7,145,018        1,817               5,012,446        7,153,019         ‐                       5,012,446         CAPITAL PROJECT FUNDS (CIP): 55,787,381      9,688,685        1,047,793        56,835,174      10,758,708      (23,620)            56,858,794       303 Community Services Mitigation 1,713,833        86,500             48,744             1,762,577        316,000            ‐                       1,762,577         305 Transportation Mitigation 3,154,954        200,000           102,802           3,257,756        200,000            ‐                       3,257,756         308 REET1 2,042,269        2,250,000        252,153           2,294,422        2,865,000         ‐                       2,294,422         309 REET2 3,411,866        2,250,000        252,649           3,664,515        3,248,025         ‐                       3,664,515         316 Municipal Facilities CIP 20,298,663      2,702,185        364,171           20,662,834      2,954,433        23,481             20,639,353       317 Transportation CIP 16,792,413      2,200,000        24,253             16,816,666      675,250           (47,101)            16,863,767       336 New Library Development 16,679              ‐                        ‐                       16,679              ‐                        ‐                       16,679              346 New Family First Center Dvlpmnt 8,356,704         ‐                       3,021               8,359,725        500,000            ‐                       8,359,725         ENTERPRISE FUNDS: 101,919,349    88,390,867      6,570,168        108,489,517    81,552,537      3,875,031        104,614,486     4X2 Airport Operating & CIP 7,558,405        3,051,767        259,724           7,818,129        2,994,840        105,595           7,712,534         403 Solid Waste Utility 2,771,562        22,641,386      1,300,841        4,072,403        22,575,534      756,646           3,315,757         4X4 Golf Operating & CIP 476,746           2,901,275        132,067           608,813           2,634,100        140,144           468,669            4X5 Water Operating & CIP 40,776,314      17,972,403      1,324,375        42,100,689      14,934,718      592,223           41,508,466       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      972,894           24,969,111      10,310,968      369,353           24,599,758       416 King County Metro 4,729,749        17,607,838      1,440,743        6,170,492        17,607,838      1,456,660        4,713,832         4X7 Surface Water Operating & CIP 21,610,356      12,429,712      1,139,524        22,749,880      10,494,539      454,410           22,295,470       INTERNAL SERVICE FUNDS: 53,146,873      39,017,389      1,217,550        54,364,423      35,926,656      2,446,785        51,917,638       501 Equipment Repair/Replacement 6,376,259        6,554,775        12,041             6,388,300        4,957,803        240,205           6,148,095         502 Insurance 19,860,208      3,533,775        158,422           20,018,630      3,276,889        636,582           19,382,048       503 Information Services 3,939,941        6,592,901        16,758             3,956,699        6,427,451        300,511           3,656,188         504 Facilities 504,167           5,996,730        250                  504,417           6,168,171        269,398           235,019            505 Communications 151,624           1,155,732        56                    151,680           1,152,826        69,804             81,876              512 Insurance, Healthcare 5,773,429        12,477,543      1,006,922        6,780,351        12,580,831      858,735           5,921,616         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        23,101             16,564,346      1,362,685        71,550             16,492,796       FIDUCIARY FUNDS: 10,099,764      484,000           14,145             10,113,909      647,462           19,841             10,094,068       304 Fire Mitigation 2,191,452        99,000             11,578             2,203,030        436,987            ‐                       2,203,030         611 Firemens' Pension 7,908,312        385,000           2,567               7,910,879        210,475           19,841             7,891,038         TOTAL FUNDS 283,363,804 256,673,705 14,907,395    298,271,199 263,760,456 11,837,915    286,433,284