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HomeMy WebLinkAboutMONTH 2021 02Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through February 28,  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 12,047,654$       Licenses and permits 1,291,302            Grants / intergovernmental 837,878               Charges for services 980,659               Fines and penalties 394,505               Contributions 223,132               Investment Earnings 49,759                  Insurance recoveries 23,448                  TOTAL REVENUES 15,848,337          EXPENDITURES: Personnel 9,541,899            Supplies 107,239               Contracted Services 1,820,582            Capital Outlay 497,055               Internal Services 50,315                  TOTAL EXPENDITURES 12,017,090          TRANSFERS OUT 3,130                    NET TRANSFERS (3,130)                   CHANGE IN FUND BALANCE 3,828,117            BEGINNING FUND BALANCE, Jan 1 54,391,582          ENDING FUND BALANCE, Feb 28 58,219,699          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 8,600,000            AVAILABLE FUND BALANCE, Feb 28 47,119,699$       Monthly Financial Report February 2021  Monthly Financial Report                                                               City of Renton, Washington February 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: Grants / intergovernmental 63,648$                 Investment Earnings 3,819                      TOTAL REVENUES 67,467                    EXPENDITURES: Principal 188,804                 Interest 61,513                    TOTAL EXPENDITURES 250,317                 NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (182,850)                BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Feb 28 4,827,779$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 27,432$                 ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              18,900                    ‐                               ‐                               ‐                               Interdepartmental services ‐                               ‐                               ‐                              24,200                    ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              7,177                      Contributions ‐                               ‐                               ‐                               ‐                              8,118                      ‐                               Investment Earnings 696                        56                           525                        265                        683                        117                         TOTAL REVENUES 28,128                   56                           19,425                   24,465                   8,801                     7,294                      EXPENDITURES: Supplies ‐                               ‐                               ‐                               ‐                              20,079                    ‐                               Contracted Services 19,663                   4,593                     3,300                      ‐                              3,950                      ‐                               TOTAL EXPENDITURES 19,663                   4,593                     3,300                      ‐                              24,029                    ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 8,465                     (4,537)                    16,125                   24,465                   (15,228)                 7,294                      BEGINNING FUND BALANCE, Jan 1 893,604                65,000                   677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Feb 28 902,069$              60,463$                693,835$              373,291$              857,221$              157,931$               Monthly Financial Report                                                               City of Renton, Washington February 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 ‐$                         ‐$                        428,653$          428,652$           ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          589,853            332,623             ‐                           ‐                           Charges for services 70,924               175,109             ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          2,333                  ‐                           ‐                           Investment Earnings 1,408                 2,438                 1,659                 2,705                 15,825               13,359                ‐                          6,366                  TOTAL REVENUES 72,332               177,547            430,312            431,357            605,678            348,315             ‐                          6,366                  EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          26,562               10,929                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          6,501                 12,665                ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                          94,372               1,152,552          ‐                          5,851                  TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          127,435            1,176,146          ‐                          5,851                  NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 72,332               177,547            430,312            431,357            478,243            (827,831)            ‐                          515                     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, Feb 28 1,786,165$       3,332,501$       2,472,581$       3,843,223$       20,776,906$    15,964,582$    16,679$            8,357,219$        Monthly Financial Report                                                               City of Renton, Washington February 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 ‐$                        ‐$                        ‐$                        ‐$                        14,625$              ‐$                       10,125$              Grants / intergovernmental ‐                          ‐                          ‐                          ‐                           ‐                            ‐                         173,782              Charges for services 12,619              2,438,413        232,503           2,465,361         1,786,965          2,790,071        2,171,276           Fines and penalties ‐                          ‐                          ‐                          ‐                          695                      ‐                          ‐                            Rents, leases, and misc fees 508,529            ‐                         15,949              26,404                ‐                            ‐                          ‐                            Interest and other misc 5,901                2,563                646                   77,126               68,375               3,584                41,442                TOTAL REVENUES 527,049           2,440,976        249,098           2,568,891         1,870,660          2,793,655        2,396,625           EXPENSES: Personnel 165,872           75,237              230,871           757,562             372,685              ‐                         624,611              Supplies 1,922                341                   28,243              93,133               11,876                ‐                         12,934                Contracted Services 57,341              3,205,777        18,652              414,644             323,538             2,913,320        225,865              Internal Services 1,556                2,475                 ‐                         3,631                 9,037                   ‐                         19,939                TOTAL OPERATING EXPENSES 226,691           3,283,830        277,766           1,268,970         717,136             2,913,320        883,349              AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 300,358           (842,854)          (28,668)            1,299,921         1,153,524          (119,665)          1,513,276           TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 2,032                 ‐                          ‐                         403,107             88,632                ‐                         311,670              NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 298,326           (842,854)          (28,668)            896,814             1,064,892          (119,665)          1,201,606           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, Feb 28 7,856,731$      1,928,708$      448,078$         41,673,128$     25,061,109$     4,610,084$      22,811,962$      Monthly Financial Report                                                               City of Renton, Washington February 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 ‐$                            ‐$                           36,049$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 40,591                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Interest and other misc 4,808                    14,940                  3,053                    348                        87                          4,473                    12,560                   Internal service fund misc: Worker's comp/unemployment ‐                             226,768                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             2,018,824             ‐                              Other misc 90                           ‐                             1,497                     ‐                              ‐                             104,230                17,132                   Insurance recoveries ‐                             39,380                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 45,489                  281,088                40,599                  348                        87                          2,127,527            29,692                   EXPENSES: Personnel 187,558                185,114                473,265                484,766                112,183                1,801,197            154,378                 Supplies 142,847                 ‐                             5,848                    23,744                  2,637                     ‐                              ‐                              Contracted Services 34,256                  577,093                186,845                149,030                17,162                  97,801                  9,065                     Internal Services ‐                              ‐                              ‐                             36                           ‐                              ‐                              ‐                              TOTAL OPERATING EXPENSES 364,661                762,207                665,958                657,576                131,982                1,898,998            163,443                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS (319,172)              (481,119)              (625,359)              (657,228)              (131,895)              228,529                (133,751)               TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 115,671                 ‐                             2,411                     ‐                              ‐                              ‐                              ‐                              TRANSFERS IN ‐                              ‐                             3,130                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             3,130                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE (434,843)              (481,119)              (624,640)              (657,228)              (131,895)              228,529                (133,751)               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, Feb 28 5,941,416$          19,379,089$        3,315,301$          (153,061)$            19,729$                6,001,958$          16,407,494$         Monthly Financial Report                                                               City of Renton, Washington February 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 17,426$                 ‐$                             Investment Earnings 1,671                     5,403                      TOTAL REVENUES 19,097                   5,403                      EXPENDITURES: Personnel ‐                              39,682                    TOTAL EXPENDITURES ‐                              39,682                    NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 19,097                   (34,279)                  BEGINNING FUND BALANCE, Jan 1 2,191,452             7,908,312              ENDING FUND BALANCE, Feb 28 2,210,549$           7,874,033$            Monthly Financial Report                                                               City of Renton, Washington February 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 February 28, 2021 Funds Balance  01/01/2020 Budgeted  Revenue Revenue  02/28/21 Total Funds  Available Budgeted  Expenditure Expenditure  02/28/21 Ending Balance GENERAL FUND 54,391,582      111,532,172    15,848,337      70,239,919      127,506,500    12,020,220      58,219,699       SPECIAL REVENUE FUNDS: 3,008,226        415,574           88,169             3,096,395        215,574           51,585             3,044,810         110 Hotel Motel 893,604           200,000           28,128             921,732            ‐                       19,663             902,069            125 Municipal Art 65,000             117,900           56                    65,056             117,900           4,593               60,463              127 Cable Communication 677,710           97,674             19,425             697,135           97,674             3,300               693,835            135 Springbrook Wetlands Bank 348,826            ‐                       24,465             373,291            ‐                        ‐                       373,291            140 Police Seizure 872,449            ‐                       8,801               881,250            ‐                       24,029             857,221            141 Police CSAM Seizure 150,637            ‐                       7,294               157,931            ‐                        ‐                       157,931            DEBT SERVICE FUND 5,010,629        7,145,018        67,467             5,078,096        7,153,019        250,317           4,827,779         CAPITAL PROJECT FUNDS (CIP): 55,787,381      9,688,685        2,071,907        57,859,288      10,758,708      1,309,432        56,549,856       303 Community Services Mitigation 1,713,833        86,500             72,332             1,786,165        316,000            ‐                       1,786,165         305 Transportation Mitigation 3,154,954        200,000           177,547           3,332,501        200,000            ‐                       3,332,501         308 REET1 2,042,269        2,250,000        430,312           2,472,581        2,865,000         ‐                       2,472,581         309 REET2 3,411,866        2,250,000        431,357           3,843,223        3,248,025         ‐                       3,843,223         316 Municipal Facilities CIP 20,298,663      2,702,185        605,678           20,904,341      2,954,433        127,435           20,776,906       317 Transportation CIP 16,792,413      2,200,000        348,315           17,140,728      675,250           1,176,146        15,964,582       336 New Library Development 16,679              ‐                        ‐                       16,679              ‐                        ‐                       16,679              346 New Family First Center Dvlpmnt 8,356,704         ‐                       6,366               8,363,070        500,000           5,851               8,357,219         ENTERPRISE FUNDS: 101,919,349    88,390,867      12,846,954      114,766,303    81,552,537      10,376,503      104,389,800     4X2 Airport Operating & CIP 7,558,405        3,051,767        527,049           8,085,454        2,994,840        228,723           7,856,731         403 Solid Waste Utility 2,771,562        22,641,386      2,440,976        5,212,538        22,575,534      3,283,830        1,928,708         4X4 Golf Operating & CIP 476,746           2,901,275        249,098           725,844           2,634,100        277,766           448,078            4X5 Water Operating & CIP 40,776,314      17,972,403      2,568,891        43,345,205      14,934,718      1,672,077        41,673,128       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      1,870,660        25,866,877      10,310,968      805,768           25,061,109       416 King County Metro 4,729,749        17,607,838      2,793,655        7,523,404        17,607,838      2,913,320        4,610,084         4X7 Surface Water Operating & CIP 21,610,356      12,429,712      2,396,625        24,006,981      10,494,539      1,195,019        22,811,962       INTERNAL SERVICE FUNDS: 53,146,873      39,017,389      2,527,960        55,674,833      35,926,656      4,762,907        50,911,926       501 Equipment Repair/Replacement 6,376,259        6,554,775        45,489             6,421,748        4,957,803        480,332           5,941,416         502 Insurance 19,860,208      3,533,775        281,088           20,141,296      3,276,889        762,207           19,379,089       503 Information Services 3,939,941        6,592,901        43,729             3,983,670        6,427,451        668,369           3,315,301         504 Facilities 504,167           5,996,730        348                  504,515           6,168,171        657,576           (153,061)           505 Communications 151,624           1,155,732        87                    151,711           1,152,826        131,982           19,729              512 Insurance, Healthcare 5,773,429        12,477,543      2,127,527        7,900,956        12,580,831      1,898,998        6,001,958         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        29,692             16,570,937      1,362,685        163,443           16,407,494       FIDUCIARY FUNDS: 10,099,764      484,000           24,500             10,124,264      647,462           39,682             10,084,582       304 Fire Mitigation 2,191,452        99,000             19,097             2,210,549        436,987            ‐                       2,210,549         611 Firemens' Pension 7,908,312        385,000           5,403               7,913,715        210,475           39,682             7,874,033         TOTAL FUNDS 283,363,804 256,673,705 33,475,294    316,839,098 263,760,456 28,810,646    288,028,452