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HomeMy WebLinkAboutMONTH 2021 09Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through September  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 65,207,515$       Licenses and permits 4,202,954            Grants / intergovernmental 4,954,831            Charges for services 7,030,084            Fines and penalties 3,432,097            Miscellaneous 961,198               Sale of general fixed assets 41,718                  Investment Earnings 213,789               Insurance recoveries 25,288                  TOTAL REVENUES 86,069,474          EXPENDITURES: Personnel 45,272,552          Supplies 942,043               Contracted Services 14,377,877          Capital Outlay 1,035,536            Internal Services 12,846,201          TOTAL EXPENDITURES 74,474,209          Transfers In 23,150                  Transfers Out 1,532,525            NET TRANSFERS (1,509,375)           CHANGE IN FUND BALANCE 10,085,890          BEGINNING FUND BALANCE, Jan 1 54,456,582          ENDING FUND BALANCE, Sep 30 64,542,472          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,405,500            AVAILABLE FUND BALANCE, Sep 30 52,636,972$       Monthly Financial Report September 2021  Monthly Financial Report                                                               City of Renton, Washington September 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 15,705                    TOTAL REVENUES 130,445                 EXPENDITURES: Principal 595,158                 Interest 824,069                 TOTAL EXPENDITURES 1,419,227              Transfers In 1,490,188              NET TRANSFERS 1,490,188              CHANGE IN FUND BALANCE 201,406                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Sep 30 5,212,035$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,494,460$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 184,096$               ‐$                            2,170,166$            ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              55,098                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              22,380                    Contributions 25,000                    ‐                               ‐                               ‐                              10,836                    ‐                               Investment Earnings 2,539                     1,962                      ‐                              1,023                     2,257                     460                         Sale of Fixed Assets ‐                               ‐                               ‐                              867                         ‐                               ‐                               TOTAL REVENUES 211,635                57,060                   2,170,166             1,890                     13,093                   22,840                    EXPENDITURES: Supplies ‐                              6,184                      ‐                               ‐                              21,771                    ‐                               Contracted Services 226,543                34,850                    ‐                               ‐                              42,054                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 226,543                41,034                    ‐                               ‐                              148,229                 ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (14,908)                 16,026                   2,170,166             1,890                     (135,136)               22,840                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                 ‐                              348,826                872,449                150,637                 ENDING FUND BALANCE, Sep 30 878,696$              693,736$              2,170,166$           350,716$              737,313$              173,477$               Monthly Financial Report                                                               City of Renton, Washington September 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 ‐$                         ‐$                         ‐$                        3,394,381$       3,394,380$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          1,168,042         5,644,893          ‐                           ‐                           Charges for services 204,385            183,880            1,909,674          ‐                           ‐                          157,795             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          29,118                ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                          11,000                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 5,983                 6,382                 10,844               9,524                 14,602               58,244               46,184                ‐                          23,673                TOTAL REVENUES 210,368            190,262            1,920,518         3,403,905         3,408,982         1,475,081         5,720,195          ‐                          23,673                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          383,907            86,339                ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          20,598                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          32,764               80,412                ‐                          60,435                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          3,227,689         9,046,585          ‐                          67,603                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          3,644,360         9,233,934          ‐                          128,038             Transfers In 1,179,783          ‐                           ‐                           ‐                          3,177,680          ‐                           ‐                           ‐                          27,879                Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                          4,385,342          ‐                          16,679                ‐                           NET TRANSFERS 1,179,783          ‐                           ‐                           ‐                          3,177,680         (4,385,342)         ‐                          (16,679)             27,879                CHANGE IN FUND BALANCE 1,390,151         190,262            1,920,518         3,403,905         6,586,662         (6,554,621)        (3,513,739)        (16,679)             (76,486)              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, Sep 30 3,103,984$       2,381,714$       5,075,472$       5,446,174$       9,998,528$       13,744,042$    13,278,674$     ‐$                        8,280,218$        Monthly Financial Report                                                               City of Renton, Washington September 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 Utility Golf Course Water Utility Utility Metro Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        74,250$              ‐$                       24,000$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         803,689              Charges for services 2,476,150        15,625,585      2,383,998        14,073,834       8,428,851          13,263,925      9,515,917           Fines and penalties ‐                          ‐                          ‐                          ‐                          5,133                   ‐                          ‐                            Rents, leases, and misc fees ‐                          ‐                         345,680           141,129              ‐                            ‐                          ‐                            Interest and other misc 23,447              7,776                3,310                459,737             638,984             12,861              1,129,745           TOTAL REVENUES 2,499,597        15,702,857      2,732,988        14,674,700       9,147,218          13,276,786      11,473,351        EXPENSES: Personnel 816,777           388,806           1,169,634        3,452,860         1,683,762           ‐                         2,786,229           Supplies 19,693              471                   288,350           638,118             67,240                ‐                         91,100                Contracted Services 371,304           14,178,479      99,897              2,341,678         1,645,237          13,015,696      1,771,031           Internal Services 295,292           230,869           262,692           1,904,709         1,450,210           ‐                         1,918,141           TOTAL OPERATING EXPENSES 1,503,066        14,798,625      1,820,573        8,337,365         4,846,449          13,015,696      6,566,501           CAPITAL, AND TRANSFERS 996,531           904,232           912,415           6,337,335         4,300,769          261,090           4,906,850           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,375               42,551                ‐                         50,985                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,193             42,551                ‐                         50,985                CAPITAL OUTLAY 458,107            ‐                         12,662              2,687,602         5,936,064           ‐                         4,646,198           Transfers In ‐                          ‐                         51,075               ‐                           ‐                            ‐                          ‐                            Transfers Out 6,276                94                      51,075              2,626                 2,251                   ‐                         20,598                NET TRANSFERS (6,276)               (94)                     ‐                         (2,626)                (2,251)                 ‐                         (20,598)               CHANGE IN FUND BALANCE 532,148           904,138           899,753           3,202,914         (1,680,097)        261,090           189,069              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, Sep 30 8,090,553$      3,675,700$      1,376,499$      43,979,228$     22,316,120$     4,990,839$      21,799,425$      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 7,867,429$      3,275,700$      734,999$         40,970,874$     20,740,669$     4,610,839$      19,927,877$      Monthly Financial Report                                                               City of Renton, Washington September 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 31% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           147,064$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             40,651                   Charges for services: Equipment rental m&o 2,318,062             ‐                             4,826,925             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             348,743                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             516,831                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             4,380,398             ‐                              ‐                              ‐                              Interest and other misc 19,364                  54,169                  11,140                  1,244                    424                        17,267                  47,651                   Internal service fund misc: Vehicle / equipment capital recovery 2,670,680             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,305,111             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,078,110             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             9,181,575            1,968,513             Other misc 409                        41,181                  25,192                  111,559                 ‐                             239,929                63,640                   Disposal of capital assets 103,064                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             128,287                 ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 5,111,579            2,606,858            5,010,321            4,493,201            865,998                9,438,771            2,120,455             EXPENSES: Personnel 796,099                905,961                2,152,287            2,192,307            479,772                8,619,302            834,313                 Supplies 975,971                30                          292,931                345,266                19,665                  844                         ‐                              Contracted Services 232,198                2,234,238            1,559,605            985,977                115,369                338,593                54,364                   Internal Services 22,754                   ‐                              ‐                             97,115                  1,500                    60,132                   ‐                              TOTAL OPERATING EXPENSES 2,027,022            3,140,229            4,004,823            3,620,665            616,306                9,018,871            888,677                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 3,084,557            (533,371)              1,005,498            872,536                249,692                419,900                1,231,778             TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 256,740                 ‐                             118,614                40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             120,203                 ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                             52,868                   ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             (52,868)                 120,203                 ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 2,827,817            (586,239)              1,007,087            832,473                249,692                419,900                1,231,778             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, Sep 30 9,204,076$          19,273,969$        4,947,028$          1,336,640$          401,316$             6,193,329$          17,773,023$         Insurance Reserves ‐                             17,708,251           ‐                              ‐                              ‐                             3,774,249            17,773,023           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 9,204,076$          1,565,718$          4,947,028$          1,336,640$          401,316$             2,419,080$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington September 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 171,854$               ‐$                             Investment Earnings 188,932                 ‐                               Collected for Others ‐                              1,239,985              TOTAL REVENUES 360,786                1,239,985              EXPENDITURES: Distributions to Others 182,549                1,098,461              TOTAL EXPENDITURES 182,549                1,098,461              NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 178,237                141,524                 BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Sep 30 8,086,549$           141,524$               Monthly Financial Report                                                               City of Renton, Washington September 2021  Page 7 of 7               CONTACT INFORMATION  This report is prepared by the Finance 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 September 30, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  09/30/21 Total Funds  Available Budgeted  Expenditure Expenditure  09/30/21 Ending Balance GENERAL FUND 54,456,582      106,428,899    86,092,624      140,549,206    117,568,755    76,006,734      64,542,472       SPECIAL REVENUE FUNDS: 2,943,226        346,874           2,476,684        5,419,910        1,621,957        415,806           5,004,104         110 Hotel Motel 893,604           225,000           211,635           1,105,239        501,197           226,543           878,696            127 Cable Communication 677,710           97,674             57,060             734,770           97,674             41,034             693,736            130 Housing and Supportive Services ‐                        ‐                       2,170,166        2,170,166         ‐                        ‐                       2,170,166         135 Springbrook Wetlands Bank 348,826           24,200             1,890               350,716            ‐                        ‐                       350,716            140 Police Seizure 872,449            ‐                       13,093             885,542           872,449           148,229           737,313            141 Police CSAM Seizure 150,637            ‐                       22,840             173,477           150,637            ‐                       173,477            DEBT SERVICE FUND 5,010,629        7,493,298        1,620,633        6,631,262        7,153,019        1,419,227        5,212,035         CAPITAL PROJECT FUNDS (CIP): 57,978,833      49,352,571      20,738,326      78,717,159      88,353,225      17,408,353      61,308,806       303 Community Services Mitigation 1,713,833        1,571,464        1,390,151        3,103,984        2,080,328         ‐                       3,103,984         304 Fire Mitigation 2,191,452        99,000             190,262           2,381,714        436,987            ‐                       2,381,714         305 Transportation Mitigation 3,154,954        200,000           1,920,518        5,075,472        172,869            ‐                       5,075,472         308 REET1 2,042,269        2,250,000        3,403,905        5,446,174        2,865,000         ‐                       5,446,174         309 REET2 3,411,866        5,427,680        6,586,662        9,998,528        7,066,705         ‐                       9,998,528         316 Municipal Facilities CIP 20,298,663      9,298,399        1,475,081        21,773,744      29,421,290      8,029,702        13,744,042       317 Transportation CIP 16,792,413      30,431,028      5,720,195        22,512,608      45,420,592      9,233,934        13,278,674       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        75,000             51,552             8,408,256        872,775           128,038           8,280,218         ENTERPRISE FUNDS: 101,919,349    100,835,029    69,558,572      171,477,921    162,046,971    65,249,557      106,228,364     4X2 Airport Operating & CIP 7,558,405        3,109,929        2,499,597        10,058,002      9,365,368        1,967,449        8,090,553         403 Solid Waste Utility 2,771,562        22,954,522      15,702,857      18,474,419      22,902,330      14,798,719      3,675,700         4X4 Golf Operating & CIP 476,746           3,126,584        2,784,063        3,260,809        2,890,419        1,884,310        1,376,499         4X5 Water Operating & CIP 40,776,314      17,972,403      14,674,700      55,451,014      48,985,805      11,471,786      43,979,228       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      9,147,218        33,143,435      28,637,433      10,827,315      22,316,120       416 King County Metro 4,729,749        17,607,838      13,276,786      18,006,535      17,607,838      13,015,696      4,990,839         4X7 Surface Water Operating & CIP 21,610,356      24,277,267      11,473,351      33,083,707      31,657,778      11,284,282      21,799,425       INTERNAL SERVICE FUNDS: 53,146,873      38,947,486      29,767,386      82,914,259      37,627,541      23,784,878      59,129,381       501 Equipment Repair/Replacement 6,376,259        6,463,395        5,111,579        11,487,838      5,289,546        2,283,762        9,204,076         502 Insurance 19,860,208      3,533,775        2,606,858        22,467,066      3,698,515        3,193,097        19,273,969       503 Information Services 3,939,941        6,614,378        5,130,524        9,070,465        7,374,069        4,123,437        4,947,028         504 Facilities 504,167           5,996,730        4,493,201        4,997,368        6,169,069        3,660,728        1,336,640         505 Communications 151,624           1,155,732        865,998           1,017,622        1,152,826        616,306           401,316            512 Insurance, Healthcare 5,773,429        12,477,543      9,438,771        15,212,200      12,580,831      9,018,871        6,193,329         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        2,120,455        18,661,700      1,362,685        888,677           17,773,023       FIDUCIARY FUNDS: 7,908,312        385,000           1,600,771        9,509,083        210,475           1,281,010        8,228,073         611 Firemens' Pension 7,908,312        385,000           360,786           8,269,098        210,475           182,549           8,086,549         630 Custodial Fund ‐                        ‐                       1,239,985        1,239,985         ‐                       1,098,461        141,524            TOTAL FUNDS 283,363,804    303,789,157    211,854,996    495,218,800    414,581,943    185,565,565    309,653,235