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HomeMy WebLinkAboutMONTH 2021 04Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through April 30, 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.    Economic Development and Operating reserves are established internally in accordance with the City’s Policy on Stabilization  Funds, as outlined in the 2021‐2022 Adopted Budget.           General REVENUES: Taxes 32,134,258$       Licenses and permits 2,004,690            Grants / intergovernmental 1,803,343            Charges for services 2,723,403            Fines and penalties 1,059,238            Contributions 398,778               Investment Earnings 106,727               Insurance recoveries 23,980                  TOTAL REVENUES 40,254,417          EXPENDITURES: Personnel 19,570,614          Supplies 322,982               Contracted Services 5,834,562            Capital Outlay 731,412               Internal Services 4,329,282            TOTAL EXPENDITURES 30,788,852          Transfers Out 1,611,686            NET TRANSFERS (1,611,686)           CHANGE IN FUND BALANCE 7,853,879            BEGINNING FUND BALANCE, Jan 1 54,391,582          ENDING FUND BALANCE, Apr 30 62,245,461          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 8,600,000            AVAILABLE FUND BALANCE, Apr 30 51,145,461$       Monthly Financial Report April 2021  Monthly Financial Report                                                               City of Renton, Washington April 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.    Debt service reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the  2021‐2022 Adopted Budget.        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 89,194$                 Investment Earnings 8,775                      TOTAL REVENUES 97,969                    EXPENDITURES: Principal 188,804                 Interest 61,513                    TOTAL EXPENDITURES 250,317                 NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 1,337,840              BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Apr 30 6,348,469$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 3,630,894$            Hotel‐Motel Tax Municipal Art Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 55,977$                 ‐$                             ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                               ‐                              18,901                    ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                              24,200                    ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              17,107                    Contributions 15,000                    ‐                               ‐                               ‐                              8,118                      ‐                               Investment Earnings 1,438                     135                        1,085                     567                        1,307                     247                         TOTAL REVENUES 72,415                   135                        19,986                   24,767                   9,425                     17,354                    EXPENDITURES: Supplies ‐                              32                            ‐                               ‐                              20,379                    ‐                               Contracted Services 80,354                   24,370                   9,620                      ‐                              16,613                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              31,504                    ‐                               TOTAL EXPENDITURES 80,354                   24,402                   9,620                      ‐                              68,496                    ‐                               Transfers In ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                              117,900                 ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (7,939)                    93,633                   10,366                   24,767                   (59,071)                 17,354                    BEGINNING FUND BALANCE, Jan 1 893,604                65,000                   677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Apr 30 885,665$              158,633$              688,076$              373,593$              813,378$              167,991$               Monthly Financial Report                                                               City of Renton, Washington April 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 Fire Impact  Mitigation Transportation  Impact  Mitigation REET 1REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                        1,177,678$       1,177,678$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          657,353            3,191,219          ‐                           ‐                           Charges for services 73,784               19,942               196,663             ‐                           ‐                          146,200             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          19,120                ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 3,085                 3,491                 5,628                 4,223                 6,013                 35,516               27,227               3                         13,276                TOTAL REVENUES 76,869               23,433               202,291            1,181,901         1,183,691         919,069            3,237,566         3                         13,276                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          151,687            17,934                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          18,804               28,170                ‐                           ‐                           Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          791,097            3,231,804          ‐                          34,307                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          961,588            3,277,908          ‐                          34,307                NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           CHANGE IN FUND BALANCE 76,869               23,433               202,291            1,181,901         1,183,691         (42,519)             (40,342)             3                         (21,031)              BEGINNING FUND BALANCE, Jan 1 1,713,833         2,191,452         3,154,954         2,042,269         3,411,866         20,298,663       16,792,413       16,679               8,356,704          ENDING FUND BALANCE, Apr 30 1,790,702$       2,214,885$       3,357,245$       3,224,170$       4,595,557$       20,256,144$    16,752,071$    16,682$            8,335,673$        Monthly Financial Report                                                               City of Renton, Washington April 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.    Amounts restricted for debt service are in accordance with revenue bond requirements. Operating reserves are established  internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.          Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        25,500$              ‐$                       11,250$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         560,644              Charges for services 18,568              6,455,417        727,094           5,070,225         3,637,976          5,687,710        4,435,634           Fines and penalties ‐                          ‐                          ‐                          ‐                          815                      ‐                          ‐                            Rents, leases, and misc fees 1,099,048         ‐                         69,802              68,146                ‐                            ‐                          ‐                            Interest and other misc 12,373              4,483                1,860                252,404             291,093             7,058                109,723              TOTAL REVENUES 1,129,989        6,529,396        798,756           5,390,775         3,955,384          5,694,768        5,117,251           EXPENSES: Personnel 347,896           159,627           471,199           1,541,120         738,719              ‐                         1,252,138           Supplies 6,040                378                   96,473              242,284             24,367                ‐                         36,761                Contracted Services 108,660           5,454,619        53,005              876,411             692,393             5,813,100        523,091              Internal Services 100,325           81,334              87,565              676,478             500,124              ‐                         691,136              TOTAL OPERATING EXPENSES 562,921           5,695,958        708,242           3,336,293         1,955,603          5,813,100        2,503,126           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 567,068           833,438           90,514              2,054,482         1,999,781          (118,332)          2,614,125           TOTAL DEBT SERVICE ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 56,154               ‐                          ‐                         793,518             872,722              ‐                         745,225              NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 510,914           833,438           90,514              1,260,964         1,127,059          (118,332)          1,868,900           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, Apr 30 8,069,319$      3,605,000$      567,260$         42,037,278$     25,123,276$     4,611,417$      23,479,256$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 216,784           400,000           641,500           1,624,606         913,756             380,000           1,109,340           AVAILABLE FUND BALANCE 7,852,535$      3,205,000$      (74,240)$          39,018,622$     23,548,293$     4,231,417$      21,615,048$      Monthly Financial Report                                                               City of Renton, Washington April 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.    Insurance reserves for the Healthcare Fund are established at a rate of 30% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB. Operating reserves are established internally in accordance with the  City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           66,323$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 810,137                 ‐                             1,608,975             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             116,248                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             172,436                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,460,133             ‐                              ‐                              ‐                              Interest and other misc 10,061                  29,878                  6,188                    561                        206                        9,712                    26,259                   Internal service fund misc: Vehicle / equipment capital recovery 875,572                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             435,037                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             455,916                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             4,053,514            656,171                 Other misc 153                        41,181                  23,057                  38,050                   ‐                             104,230                17,132                   Insurance recoveries ‐                             65,566                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,695,923            1,027,578            1,704,543            1,498,744            288,890                4,167,456            699,562                 EXPENSES: Personnel 361,838                378,459                948,537                956,703                223,344                3,680,736            347,996                 Supplies 413,289                30                          137,556                86,093                  7,653                     ‐                              ‐                              Contracted Services 99,035                  841,616                527,983                387,172                51,187                  175,072                15,369                   Internal Services 9,215                     ‐                              ‐                             32,447                  500                        20,044                   ‐                              TOTAL OPERATING EXPENSES 883,377                1,220,105            1,614,076            1,462,415            282,684                3,875,852            363,365                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 812,546                (192,527)              90,467                  36,329                  6,206                    291,604                336,197                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 122,554                 ‐                             9,435                    40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             3,598                     ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 689,992                (192,527)              84,630                  (3,734)                   6,206                    291,604                336,197                 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, Apr 30 7,066,251$          19,667,681$        4,024,571$          500,433$             157,830$             6,065,033$          16,877,442$         Insurance Reserves ‐                              ‐                              ‐                              ‐                              ‐                             3,774,249            16,877,442           Opearting Reserves ‐                             13,952,413           ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 7,066,251$          5,715,268$          4,024,571$          500,433$             157,830$             2,290,784$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington April 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.       Firemens' Pension REVENUES: Investment Earnings 11,261                    TOTAL REVENUES 11,261                    EXPENDITURES: Personnel 77,480                    TOTAL EXPENDITURES 77,480                    NET TRANSFERS ‐                               CHANGE IN FUND BALANCE (66,219)                  BEGINNING FUND BALANCE, Jan 1 7,908,312              ENDING FUND BALANCE, Apr 30 7,842,093$            Monthly Financial Report                                                               City of Renton, Washington April 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 April 30, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  04/30/21 Total Funds  Available Budgeted  Expenditure Expenditure  04/30/21 Ending Balance GENERAL FUND 54,391,582      113,584,447    40,254,417      94,645,999      131,035,439    32,400,538      62,245,461       SPECIAL REVENUE FUNDS: 3,008,226        464,774           261,982           3,270,208        1,740,357        182,872           3,087,336         110 Hotel Motel 893,604           225,000           72,415             966,019           501,197           80,354             885,665            125 Municipal Art 65,000             117,900           118,035           183,035           118,400           24,402             158,633            127 Cable Communication 677,710           97,674             19,986             697,696           97,674             9,620               688,076            135 Springbrook Wetlands Bank 348,826           24,200             24,767             373,593            ‐                        ‐                       373,593            140 Police Seizure 872,449            ‐                       9,425               881,874           872,449           68,496             813,378            141 Police CSAM Seizure 150,637            ‐                       17,354             167,991           150,637            ‐                       167,991            DEBT SERVICE FUND 5,010,629        7,493,298        1,588,157        6,598,786        7,153,019        250,317           6,348,469         CAPITAL PROJECT FUNDS (CIP): 57,978,833      47,792,209      6,838,099        64,816,932      86,146,476      4,273,803        60,543,129       303 Community Services Mitigation 1,713,833        1,266,283        76,869             1,790,702        1,830,328         ‐                       1,790,702         304 Fire Mitigation 2,191,452        99,000             23,433             2,214,885        436,987            ‐                       2,214,885         305 Transportation Mitigation 3,154,954        200,000           202,291           3,357,245        172,869            ‐                       3,357,245         308 REET1 2,042,269        2,250,000        1,181,901        3,224,170        2,865,000         ‐                       3,224,170         309 REET2 3,411,866        5,427,680        1,183,691        4,595,557        7,066,705         ‐                       4,595,557         316 Municipal Facilities CIP 20,298,663      8,743,218        919,069           21,217,732      28,225,409      961,588           20,256,144       317 Transportation CIP 16,792,413      29,731,028      3,237,566        20,029,979      44,659,724      3,277,908        16,752,071       336 New Library Development 16,679              ‐                       3                      16,682             16,679              ‐                       16,682              346 New Family First Center Dvlpmnt 8,356,704        75,000             13,276             8,369,980        872,775           34,307             8,335,673         ENTERPRISE FUNDS: 101,919,349    100,146,918    28,633,344      130,552,693    160,806,320    23,059,887      107,492,806     4X2 Airport Operating & CIP 7,558,405        3,051,767        1,129,989        8,688,394        8,764,848        619,075           8,069,319         403 Solid Waste Utility 2,771,562        22,641,386      6,529,396        9,300,958        22,589,223      5,695,958        3,605,000         4X4 Golf Operating & CIP 476,746           2,901,275        815,781           1,292,527        2,634,100        725,267           567,260            4X5 Water Operating & CIP 40,776,314      17,972,403      5,390,775        46,167,089      49,071,667      4,129,811        42,037,278       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      3,955,384        27,951,601      28,633,537      2,828,325        25,123,276       416 King County Metro 4,729,749        17,607,838      5,694,768        10,424,517      17,607,838      5,813,100        4,611,417         4X7 Surface Water Operating & CIP 21,610,356      24,185,763      5,117,251        26,727,607      31,505,107      3,248,351        23,479,256       INTERNAL SERVICE FUNDS: 53,146,873      39,038,866      11,086,294      64,233,167      37,626,643      9,873,926        54,359,241       501 Equipment Repair/Replacement 6,376,259        6,554,775        1,695,923        8,072,182        5,289,546        1,005,931        7,066,251         502 Insurance 19,860,208      3,533,775        1,027,578        20,887,786      3,698,515        1,220,105        19,667,681       503 Information Services 3,939,941        6,614,378        1,708,141        5,648,082        7,374,069        1,623,511        4,024,571         504 Facilities 504,167           5,996,730        1,498,744        2,002,911        6,168,171        1,502,478        500,433            505 Communications 151,624           1,155,732        288,890           440,514           1,152,826        282,684           157,830            512 Insurance, Healthcare 5,773,429        12,477,543      4,167,456        9,940,885        12,580,831      3,875,852        6,065,033         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        699,562           17,240,807      1,362,685        363,365           16,877,442       FIDUCIARY FUNDS: 7,908,312        385,000           11,261             7,919,573        210,475           77,480             7,842,093         611 Firemens' Pension 7,908,312        385,000           11,261             7,919,573        210,475           77,480             7,842,093         TOTAL FUNDS 283,363,804    308,905,512    88,673,554      372,037,358    424,718,729    70,118,823      301,918,535