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HomeMy WebLinkAboutMONTH 2021 10Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through October 31,  2021. A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s  financial management policies.     GENERAL FUND  The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund  is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation,  human services, municipal court, street maintenance and planning, economic development, and administrative functions.  The table below displays the year‐to‐date revenues and expenditures for the General Fund.    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 79,679,458$       Licenses and permits 4,413,653            Grants / intergovernmental 5,470,357            Charges for services 7,534,418            Fines and penalties 3,776,466            Miscellaneous 1,245,352            Sale of general fixed assets 41,718                  Investment Earnings 235,266               Insurance recoveries 25,693                  TOTAL REVENUES 102,422,381       EXPENDITURES: Personnel 50,083,261          Supplies 1,123,338            Contracted Services 15,704,708          Capital Outlay 1,253,395            Internal Services 12,846,250          TOTAL EXPENDITURES 81,010,952          Transfers In 23,150                  Transfers Out 3,031,795            NET TRANSFERS (3,008,645)           CHANGE IN FUND BALANCE 18,402,784          BEGINNING FUND BALANCE, Jan 1 54,456,582          ENDING FUND BALANCE, Oct 31 72,859,366          ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 9,405,500            AVAILABLE FUND BALANCE, Oct 31 60,953,866$       Monthly Financial Report October 2021  Monthly Financial Report                                                               City of Renton, Washington October 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 16,970                    TOTAL REVENUES 131,710                 EXPENDITURES: Principal 595,158                 Interest 825,465                 TOTAL EXPENDITURES 1,420,623              Transfers In 2,980,375              NET TRANSFERS 2,980,375              CHANGE IN FUND BALANCE 1,691,462              BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Oct 31 6,702,091$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 3,984,516$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 219,918$               ‐$                            2,497,759$            ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              72,259                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              23,726                    Contributions 25,000                    ‐                               ‐                               ‐                              10,836                    ‐                               Investment Earnings 2,752                     2,130                     527                        1,108                     2,436                     503                         Sale of Fixed Assets ‐                               ‐                               ‐                              867                         ‐                               ‐                               TOTAL REVENUES 247,670                74,389                   2,498,286             1,975                     13,272                   24,229                    EXPENDITURES: Personnel ‐                               ‐                               ‐                              643                         ‐                               ‐                               Supplies ‐                              6,184                      ‐                               ‐                              21,771                    ‐                               Contracted Services 241,501                35,350                    ‐                               ‐                              50,072                    ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                              84,404                    ‐                               TOTAL EXPENDITURES 241,501                41,534                    ‐                              643                        156,247                 ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE 6,169                     32,855                   2,498,286             1,332                     (142,975)               24,229                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                 ‐                              348,826                872,449                150,637                 ENDING FUND BALANCE, Oct 31 899,773$              710,565$              2,498,286$           350,158$              729,474$              174,866$               Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                         ‐$                         ‐$                        4,163,545$       4,163,545$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          1,168,042         7,065,247          ‐                           ‐                           Charges for services 212,032            191,905            2,043,846          ‐                           ‐                          157,795             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          30,026                ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                          11,000                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 6,736                 6,960                 12,075               10,845               17,027               61,586               49,457                ‐                          25,681                TOTAL REVENUES 218,768            198,865            2,055,921         4,174,390         4,180,572         1,478,423         7,144,730          ‐                          25,681                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                          403,036            87,178                ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          20,598                ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                           ‐                          103,791            152,567             ‐                          66,630                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                          3,842,436         10,110,933        ‐                          87,584                TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          4,349,263         10,371,276        ‐                          154,214             Transfers In 1,179,783          ‐                           ‐                           ‐                          3,177,680          ‐                           ‐                           ‐                          33,942                Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                          4,391,405          ‐                          16,679                ‐                           NET TRANSFERS 1,179,783          ‐                           ‐                           ‐                          3,177,680         (4,391,405)         ‐                          (16,679)             33,942                CHANGE IN FUND BALANCE 1,398,551         198,865            2,055,921         4,174,390         7,358,252         (7,262,245)        (3,226,546)        (16,679)             (94,591)              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, Oct 31 3,112,384$       2,390,317$       5,210,875$       6,216,659$       10,770,118$    13,036,418$    13,565,867$     ‐$                        8,262,113$        Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                        ‐$                        ‐$                        ‐$                        77,625$              ‐$                       26,250$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         854,736              Charges for services 2,742,137        16,856,293      2,566,643        15,950,692       9,376,263          14,780,034      10,694,344        Fines and penalties ‐                          ‐                          ‐                          ‐                          5,133                   ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         384,975           163,545              ‐                            ‐                          ‐                            Interest and other misc 25,432              8,667                3,731                475,034             647,928             14,073              1,143,583           TOTAL REVENUES 2,786,706        16,934,456      2,955,349        16,589,271       10,106,949       14,794,107      12,718,913        EXPENSES: Personnel 906,471           430,980           1,301,070        3,823,274         1,879,917           ‐                         3,085,131           Supplies 28,491              1,974                297,111           711,976             71,398                ‐                         104,893              Contracted Services 423,777           15,080,370      137,847           2,608,640         1,885,541          14,460,285      1,916,031           Internal Services 295,292           230,869           262,692           1,904,709         1,450,210           ‐                         1,918,141           TOTAL OPERATING EXPENSES 1,654,031        15,744,193      1,998,720        9,048,599         5,287,066          14,460,285      7,024,196           CAPITAL, AND TRANSFERS 1,132,675        1,190,263        956,629           7,540,672         4,819,883          333,822           5,694,717           DEBT SERVICE: Principal ‐                          ‐                          ‐                         345,818              ‐                            ‐                          ‐                            Interest ‐                          ‐                          ‐                         98,525               42,611                ‐                         51,075                TOTAL DEBT SERVICE ‐                          ‐                          ‐                         444,343             42,611                ‐                         51,075                CAPITAL OUTLAY 474,230            ‐                         12,662              2,912,810         6,374,355           ‐                         5,510,159           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 652,169           1,190,169        943,967           4,180,893         (1,599,334)        333,822           112,885              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, Oct 31 8,210,574$      3,961,731$      1,420,713$      44,957,207$     22,396,883$     5,063,571$      21,723,241$      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 7,987,450$      3,561,731$      779,213$         41,948,853$     20,821,432$     4,683,571$      19,851,693$      Monthly Financial Report                                                               City of Renton, Washington October 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 ‐$                            ‐$                           164,181$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             40,651                   Charges for services: Equipment rental m&o 2,344,279             ‐                             4,826,925             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             348,743                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             516,831                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             4,380,398             ‐                              ‐                              ‐                              Interest and other misc 21,608                  58,843                  12,340                  1,571                    522                        18,768                  51,960                   Internal service fund misc: Vehicle / equipment capital recovery 2,670,680             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,305,111             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,198,574             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             10,217,741          1,968,513             Other misc 491                        41,181                  25,192                  123,767                 ‐                             319,423                85,910                   Disposal of capital assets 103,064                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             195,516                 ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 5,140,122            2,799,225            5,028,638            4,505,736            866,096                10,555,932          2,147,034             EXPENSES: Personnel 882,179                962,919                2,362,975            2,453,092            544,453                9,413,649            915,096                 Supplies 1,086,816            30                          366,352                430,609                20,300                  844                         ‐                              Contracted Services 236,488                2,259,323            1,631,425            1,106,144            124,842                382,711                58,137                   Internal Services 22,754                   ‐                              ‐                             97,115                  1,500                    60,132                   ‐                              TOTAL OPERATING EXPENSES 2,228,237            3,222,272            4,360,752            4,086,960            691,095                9,857,336            973,233                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 2,911,885            (423,047)              667,886                418,776                175,001                698,596                1,173,801             TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 256,740                 ‐                             121,025                40,063                   ‐                              ‐                              ‐                              Transfers In ‐                              ‐                             129,287                 ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                             52,868                   ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             (52,868)                 129,287                 ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 2,655,145            (475,915)              676,148                378,713                175,001                698,596                1,173,801             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, Oct 31 9,031,404$          19,384,293$        4,616,089$          882,880$             326,625$             6,472,025$          17,715,046$         Insurance Reserves ‐                             17,708,251           ‐                              ‐                              ‐                             3,774,249            17,715,046           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 9,031,404$          1,676,042$          4,616,089$          882,880$             326,625$             2,697,776$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington October 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 190,724                 ‐                               Collected for Others ‐                              1,337,898              TOTAL REVENUES 362,577                1,337,898              EXPENDITURES: Distributions to Others 201,492                1,211,331              TOTAL EXPENDITURES 201,492                1,211,331              NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 161,085                126,567                 BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Oct 31 8,069,397$           126,567$               Monthly Financial Report                                                               City of Renton, Washington October 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 October 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  10/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  10/31/21 Ending Balance GENERAL FUND 54,456,582      126,195,473    102,445,531    156,902,113    127,627,610    84,042,747      72,859,366       SPECIAL REVENUE FUNDS: 2,943,226        2,853,474        2,859,821        5,803,047        2,756,543        439,925           5,363,122         110 Hotel Motel 893,604           225,000           247,670           1,141,274        596,197           241,501           899,773            127 Cable Communication 677,710           97,674             74,389             752,099           97,674             41,534             710,565            130 Housing and Supportive Services ‐                       2,640,000        2,498,286        2,498,286        1,030,000         ‐                       2,498,286         135 Springbrook Wetlands Bank 348,826           (109,200)          1,975               350,801           9,586               643                  350,158            140 Police Seizure 872,449            ‐                       13,272             885,721           872,449           156,247           729,474            141 Police CSAM Seizure 150,637            ‐                       24,229             174,866           150,637            ‐                       174,866            DEBT SERVICE FUND 5,010,629        7,493,298        3,112,085        8,122,714        7,155,169        1,420,623        6,702,091         CAPITAL PROJECT FUNDS (CIP): 57,978,833      58,172,641      23,868,755      81,847,588      96,518,052      19,282,837      62,564,751       303 Community Services Mitigation 1,713,833        1,571,464        1,398,551        3,112,384        2,796,229         ‐                       3,112,384         304 Fire Mitigation 2,191,452        99,000             198,865           2,390,317        436,987            ‐                       2,390,317         305 Transportation Mitigation 3,154,954        200,000           2,055,921        5,210,875        102,837            ‐                       5,210,875         308 REET1 2,042,269        3,250,000        4,174,390        6,216,659        2,865,000         ‐                       6,216,659         309 REET2 3,411,866        6,427,680        7,358,252        10,770,118      7,066,705         ‐                       10,770,118       31X School District Impact Mitigation ‐                       995,000            ‐                        ‐                       995,000            ‐                        ‐                        316 Municipal Facilities CIP 20,298,663      13,589,300      1,478,423        21,777,086      33,725,991      8,740,668        13,036,418       317 Transportation CIP 16,792,413      30,470,197      7,144,730        23,937,143      46,062,467      10,371,276      13,565,867       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        1,570,000        59,623             8,416,327        2,450,157        154,214           8,262,113         ENTERPRISE FUNDS: 101,919,349    101,854,329    76,936,826      178,856,175    161,606,006    71,122,255      107,733,920     4X2 Airport Operating & CIP 7,558,405        3,282,007        2,786,706        10,345,111      9,587,446        2,134,537        8,210,574         403 Solid Waste Utility 2,771,562        23,024,017      16,934,456      19,706,018      22,902,330      15,744,287      3,961,731         4X4 Golf Operating & CIP 476,746           3,126,584        3,006,424        3,483,170        2,871,162        2,062,457        1,420,713         4X5 Water Operating & CIP 40,776,314      17,972,403      16,589,271      57,365,585      48,985,805      12,408,378      44,957,207       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      10,106,949      34,103,166      28,637,433      11,706,283      22,396,883       416 King County Metro 4,729,749        17,607,838      14,794,107      19,523,856      17,607,838      14,460,285      5,063,571         4X7 Surface Water Operating & CIP 21,610,356      25,054,994      12,718,913      34,329,269      31,013,992      12,606,028      21,723,241       INTERNAL SERVICE FUNDS: 53,146,873      41,891,100      31,172,070      84,318,943      39,267,564      25,890,581      58,428,362       501 Equipment Repair/Replacement 6,376,259        6,463,395        5,140,122        11,516,381      5,289,546        2,484,977        9,031,404         502 Insurance 19,860,208      5,533,775        2,799,225        22,659,433      4,242,521        3,275,140        19,384,293       503 Information Services 3,939,941        7,205,985        5,157,925        9,097,866        8,089,687        4,481,777        4,616,089         504 Facilities 504,167           6,350,643        4,505,736        5,009,903        6,522,982        4,127,023        882,880            505 Communications 151,624           1,153,826        866,096           1,017,720        1,179,312        691,095           326,625            512 Insurance, Healthcare 5,773,429        12,477,543      10,555,932      16,329,361      12,580,831      9,857,336        6,472,025         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        2,147,034        18,688,279      1,362,685        973,233           17,715,046       FIDUCIARY FUNDS: 7,908,312        385,000           1,700,475        9,608,787        210,475           1,412,823        8,195,964         611 Firemens' Pension 7,908,312        385,000           362,577           8,270,889        210,475           201,492           8,069,397         630 Custodial Fund ‐                        ‐                       1,337,898        1,337,898         ‐                       1,211,331        126,567            TOTAL FUNDS 283,363,804    338,845,315    242,095,563    525,459,367    435,141,419    203,611,791    321,847,576