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HomeMy WebLinkAboutMONTH 2021 06Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through June 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 47,030,740$       Licenses and permits 3,090,889            Grants / intergovernmental 2,912,922            Charges for services 4,458,650            Fines and penalties 2,240,858            Miscellaneous 574,554               Sale of general fixed assets 39,218                  Investment Earnings 146,272               Insurance recoveries 23,980                  TOTAL REVENUES 60,518,083          EXPENDITURES: Personnel 29,784,469          Supplies 579,189               Contracted Services 9,086,727            Capital Outlay 967,786               Internal Services 8,583,320            TOTAL EXPENDITURES 49,001,491          Transfers In 16,679                  Transfers Out 1,532,525            NET TRANSFERS (1,515,846)           CHANGE IN FUND BALANCE 10,000,746          BEGINNING FUND BALANCE, Jan 1 54,456,582          ENDING FUND BALANCE, Jun 30 64,457,328          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 11,905,500          AVAILABLE FUND BALANCE, Jun 30 50,051,828$       Monthly Financial Report June 2021  Monthly Financial Report                                                               City of Renton, Washington June 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 114,740$               Investment Earnings 11,471                    TOTAL REVENUES 126,211                 EXPENDITURES: Principal 188,804                 Interest 735,263                 TOTAL EXPENDITURES 924,067                 Transfers In 1,490,188              NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 692,332                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Jun 30 5,702,961$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,985,386$            Hotel‐Motel Tax Cable  Communications Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 95,725$                 ‐$                             ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              37,320                    ‐                               ‐                               ‐                               Charges for services ‐                               ‐                              24,200                    ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                              18,948                    Contributions 20,000                    ‐                               ‐                              8,118                      ‐                               Investment Earnings 1,858                     1,419                     745                        1,681                     328                         TOTAL REVENUES 117,583                38,739                   24,945                   9,799                     19,276                    EXPENDITURES: Supplies ‐                               ‐                               ‐                              21,771                    ‐                               Contracted Services 122,415                17,780                    ‐                              24,983                    ‐                               Capital Outlay ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 122,415                17,780                    ‐                              131,158                 ‐                               Transfers In ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (4,832)                    20,959                   24,945                   (121,359)               19,276                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                348,826                872,449                150,637                 ENDING FUND BALANCE, Jun 30 888,772$              698,669$              373,771$              751,090$              169,913$               Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                         ‐$                         ‐$                        2,111,656$       2,111,656$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          815,534            4,903,791          ‐                           ‐                           Charges for services 164,590            169,036            1,291,265          ‐                           ‐                          157,596             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          22,801                ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 3,939                 4,547                 7,245                 5,943                 8,405                 45,185               34,742                ‐                          17,234                TOTAL REVENUES 168,529            173,583            1,298,510         2,117,599         2,120,061         1,098,315         4,961,334          ‐                          17,234                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          276,812            31,407                ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          1,670                  ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          35,862               31,953                ‐                          2,904                  Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          1,229,184         6,008,584          ‐                          49,758                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,541,858         6,073,614          ‐                          52,662                Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          16,679                ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          (16,679)              ‐                           CHANGE IN FUND BALANCE 168,529            173,583            1,298,510         2,117,599         2,120,061         (443,543)           (1,112,280)        (16,679)             (35,428)              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, Jun 30 1,882,362$       2,365,035$       4,453,464$       4,159,868$       5,531,927$       19,855,120$    15,680,133$     ‐$                        8,321,276$        Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                        ‐$                        ‐$                        ‐$                        36,375$              ‐$                       16,125$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         719,282              Charges for services 38,529              8,792,529        1,392,910        7,841,786         5,455,571          8,571,287        6,380,972           Fines and penalties ‐                          ‐                          ‐                          ‐                          1,439                   ‐                          ‐                            Rents, leases, and misc fees 1,612,042         ‐                         162,057           92,910                ‐                            ‐                          ‐                            Interest and other misc 17,135              5,712                2,196                408,901             456,735             9,219                380,867              TOTAL REVENUES 1,667,706        8,867,737        1,557,163        8,343,597         5,950,120          8,580,506        7,497,246           EXPENSES: Personnel 531,374           252,805           744,799           2,308,320         1,119,834           ‐                         1,883,585           Supplies 10,069              471                   185,817           401,156             47,122                ‐                         48,591                Contracted Services 182,987           8,112,554        83,706              1,410,782         1,044,710          8,699,340        878,894              Internal Services 199,228           159,641           175,129           1,343,198         1,003,121           ‐                         1,347,036           TOTAL OPERATING EXPENSES 923,658           8,525,471        1,189,451        5,463,456         3,214,787          8,699,340        4,158,106           AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 744,048           342,266           367,712           2,880,141         2,735,333          (118,834)          3,339,140           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,375               42,551                ‐                         50,985                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,193             42,551                ‐                         50,985                CAPITAL OUTLAY 255,671            ‐                         12,662              1,969,673         1,981,361           ‐                         2,634,633           Transfers In ‐                          ‐                         34,050               ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                         34,050               ‐                           ‐                            ‐                         18,347                NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                         (18,347)               CHANGE IN FUND BALANCE 488,377           342,266           355,050           466,275             711,421             (118,834)          635,175              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, Jun 30 8,046,782$      3,113,828$      831,796$         41,242,589$     24,707,638$     4,610,915$      22,245,531$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 223,124           400,000           641,500           1,614,304         914,224             380,000           1,116,680           AVAILABLE FUND BALANCE 7,823,658$      2,713,828$      190,296$         38,234,235$     23,132,187$     4,230,915$      20,373,983$      Monthly Financial Report                                                               City of Renton, Washington June 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 ‐$                            ‐$                           99,490$                 ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 1,552,346             ‐                             3,217,950             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             232,495                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             344,871                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             2,920,265             ‐                              ‐                              ‐                              Interest and other misc 13,251                  39,299                  7,831                    620                        245                        12,606                  34,260                   Internal service fund misc: Vehicle / equipment capital recovery 1,751,144             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             870,074                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             689,468                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             6,111,494            1,312,342             Other misc 220                        41,181                  25,192                  76,100                   ‐                             164,685                36,171                   Disposal of capital assets 460                         ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             81,504                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,317,421            1,721,526            3,350,463            2,996,985            577,611                6,288,785            1,382,773             EXPENSES: Personnel 536,982                578,481                1,426,796            1,434,806            335,367                5,668,807            538,744                 Supplies 653,809                30                          205,389                177,143                11,147                  844                         ‐                              Contracted Services 167,765                1,216,330            1,015,449            578,197                85,382                  227,196                25,212                   Internal Services 16,969                   ‐                              ‐                             64,841                  1,000                    40,088                   ‐                              TOTAL OPERATING EXPENSES 1,375,525            1,794,841            2,647,634            2,254,987            432,896                5,936,935            563,956                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,941,896            (73,315)                 702,829                741,998                144,715                351,850                818,817                 CAPITAL OUTLAY 253,304                 ‐                             94,904                  40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             60,685                   ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                              ‐                             60,685                   ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 1,688,592            (73,315)                 668,610                701,935                144,715                351,850                818,817                 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, Jun 30 8,064,851$          19,786,893$        4,608,551$          1,206,102$          296,339$             6,125,279$          17,360,062$         Insurance Reserves ‐                             17,708,251           ‐                              ‐                              ‐                             3,774,249            17,360,062           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 8,064,851$          2,078,642$          4,608,551$          1,206,102$          296,339$             2,351,030$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington June 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 Custodial Fund REVENUES: Grants / intergovernmental 171,853$               ‐$                             Investment Earnings 183,181                 ‐                               Collected for Others ‐                              819,685                 TOTAL REVENUES 355,034                819,685                 EXPENDITURES: Personnel 113,593                 ‐                               TOTAL EXPENDITURES 113,593                485,106                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 241,441                334,579                 BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Jun 30 8,149,753$           334,579$               Monthly Financial Report                                                               City of Renton, Washington June 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 June 30, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  06/30/21 Total Funds  Available Budgeted  Expenditure Expenditure  06/30/21 Ending Balance GENERAL FUND 54,456,582      106,428,899    60,534,762      114,991,344    117,568,755    50,534,016      64,457,328       SPECIAL REVENUE FUNDS: 2,943,226        346,874           210,342           3,153,568        1,621,957        271,353           2,882,215         110 Hotel Motel 893,604           225,000           117,583           1,011,187        501,197           122,415           888,772            127 Cable Communication 677,710           97,674             38,739             716,449           97,674             17,780             698,669            135 Springbrook Wetlands Bank 348,826           24,200             24,945             373,771            ‐                        ‐                       373,771            140 Police Seizure 872,449            ‐                       9,799               882,248           872,449           131,158           751,090            141 Police CSAM Seizure 150,637            ‐                       19,276             169,913           150,637            ‐                       169,913            DEBT SERVICE FUND 5,010,629        7,493,298        1,616,399        6,627,028        7,153,019        924,067           5,702,961         CAPITAL PROJECT FUNDS (CIP): 57,978,833      49,352,571      11,955,165      69,933,998      88,353,225      7,684,813        62,249,185       303 Community Services Mitigation 1,713,833        1,571,464        168,529           1,882,362        2,080,328         ‐                       1,882,362         304 Fire Mitigation 2,191,452        99,000             173,583           2,365,035        436,987            ‐                       2,365,035         305 Transportation Mitigation 3,154,954        200,000           1,298,510        4,453,464        172,869            ‐                       4,453,464         308 REET1 2,042,269        2,250,000        2,117,599        4,159,868        2,865,000         ‐                       4,159,868         309 REET2 3,411,866        5,427,680        2,120,061        5,531,927        7,066,705         ‐                       5,531,927         316 Municipal Facilities CIP 20,298,663      9,298,399        1,098,315        21,396,978      29,421,290      1,541,858        19,855,120       317 Transportation CIP 16,792,413      30,431,028      4,961,334        21,753,747      45,420,592      6,073,614        15,680,133       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        75,000             17,234             8,373,938        872,775           52,662             8,321,276         ENTERPRISE FUNDS: 101,919,349    100,835,029    42,498,125      144,417,474    162,046,971    39,618,395      104,799,079     4X2 Airport Operating & CIP 7,558,405        3,109,929        1,667,706        9,226,111        9,365,368        1,179,329        8,046,782         403 Solid Waste Utility 2,771,562        22,954,522      8,867,737        11,639,299      22,902,330      8,525,471        3,113,828         4X4 Golf Operating & CIP 476,746           3,126,584        1,591,213        2,067,959        2,890,419        1,236,163        831,796            4X5 Water Operating & CIP 40,776,314      17,972,403      8,343,597        49,119,911      48,985,805      7,877,322        41,242,589       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      5,950,120        29,946,337      28,637,433      5,238,699        24,707,638       416 King County Metro 4,729,749        17,607,838      8,580,506        13,310,255      17,607,838      8,699,340        4,610,915         4X7 Surface Water Operating & CIP 21,610,356      24,277,267      7,497,246        29,107,602      31,657,778      6,862,071        22,245,531       INTERNAL SERVICE FUNDS: 53,146,873      38,947,486      19,696,249      72,843,122      37,627,541      15,395,045      57,448,077       501 Equipment Repair/Replacement 6,376,259        6,463,395        3,317,421        9,693,680        5,289,546        1,628,829        8,064,851         502 Insurance 19,860,208      3,533,775        1,721,526        21,581,734      3,698,515        1,794,841        19,786,893       503 Information Services 3,939,941        6,614,378        3,411,148        7,351,089        7,374,069        2,742,538        4,608,551         504 Facilities 504,167           5,996,730        2,996,985        3,501,152        6,169,069        2,295,050        1,206,102         505 Communications 151,624           1,155,732        577,611           729,235           1,152,826        432,896           296,339            512 Insurance, Healthcare 5,773,429        12,477,543      6,288,785        12,062,214      12,580,831      5,936,935        6,125,279         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        1,382,773        17,924,018      1,362,685        563,956           17,360,062       FIDUCIARY FUNDS: 7,908,312        385,000           1,174,719        9,083,031        210,475           598,699           8,484,332         611 Firemens' Pension 7,908,312        385,000           355,034           8,263,346        210,475           113,593           8,149,753         630 Custodial Fund ‐                        ‐                       819,685           819,685            ‐                       485,106           334,579            TOTAL FUNDS 283,363,804    303,789,157    137,685,761    421,049,565    414,581,943    115,026,388    306,023,177