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HomeMy WebLinkAboutMONTH 2021 12Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through December 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 91,987,164$       Licenses and permits 5,255,808            Grants / intergovernmental 8,843,799            Charges for services 8,988,252            Fines and penalties 4,622,320            Miscellaneous 1,370,961            Sale of general fixed assets 41,718                  Investment Earnings 381,778               Insurance recoveries 37,804                  TOTAL REVENUES 121,529,604       EXPENDITURES: Personnel 60,426,379          Supplies 1,414,728            Contracted Services 20,304,130          Capital Outlay 1,357,840            Internal Services 14,610,563          TOTAL EXPENDITURES 98,113,640          Transfers In 82,198                  Transfers Out 9,240,342            NET TRANSFERS (9,158,144)           CHANGE IN FUND BALANCE 14,257,820          BEGINNING FUND BALANCE, Jan 1 54,456,582          Prior Period Adjustment (775,836)              BEGINNING FUND BALANCE, Jan 1 ‐ restated 53,680,746          ENDING FUND BALANCE, Dec 31 67,938,566$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 24,533,439          AVAILABLE FUND BALANCE, Dec 31 40,905,127$       Monthly Financial Report December 2021  Monthly Financial Report                                                               City of Renton, Washington November 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 28,415                    TOTAL REVENUES 143,155                 EXPENDITURES: Principal 5,625,158              Interest 1,500,315              TOTAL EXPENDITURES 7,125,473              Transfers In 7,189,814              NET TRANSFERS 7,189,814              CHANGE IN FUND BALANCE 207,496                 BEGINNING FUND BALANCE, Jan 1 5,010,629              ENDING FUND BALANCE, Dec 31 5,218,125$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,500,550$            Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Police Seizure Police CSAM  Seizure REVENUES: Taxes 283,113$               ‐$                            3,166,434$            ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              72,258                    ‐                               ‐                               ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                              45,387                    Contributions 25,000                    ‐                               ‐                               ‐                              69,054                    ‐                               Investment Earnings 4,306                     3,331                     5,295                     1,541                     3,679                     803                         Sale of Fixed Assets ‐                               ‐                               ‐                              867                         ‐                               ‐                               TOTAL REVENUES 312,419                75,589                   3,171,729             2,408                     72,733                   46,190                    EXPENDITURES: Personnel ‐                               ‐                               ‐                              2,825                      ‐                               ‐                               Supplies ‐                              6,184                      ‐                               ‐                              29,574                    ‐                               Contracted Services 437,601                55,476                    ‐                              4,884                     97,181                   2,000                      Capital Outlay ‐                              394                         ‐                               ‐                              186,903                20,000                    TOTAL EXPENDITURES 437,601                62,054                    ‐                              7,709                     313,658                22,000                    Transfers In ‐                              40,000                    ‐                               ‐                               ‐                               ‐                               Transfers Out 40,000                    ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS (40,000)                 40,000                    ‐                               ‐                               ‐                               ‐                               CHANGE IN FUND BALANCE (165,182)               53,535                   3,171,729             (5,301)                    (240,925)               24,190                    BEGINNING FUND BALANCE, Jan 1 893,604                677,710                 ‐                              348,826                872,449                150,637                 Prior Period Adjustment ‐                               ‐                               ‐                              (109,200)                ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 893,604                677,710                 ‐                              239,626                872,449                150,637                 ENDING FUND BALANCE, Dec 31 728,422$              731,245$              3,171,729$           234,325$              631,524$              174,827$               Monthly Financial Report                                                               City of Renton, Washington November 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 School District  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment New Library  Development Family First  Center REVENUES: Taxes ‐$                         ‐$                         ‐$                         ‐$                        5,043,938$       5,043,937$        ‐$                         ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          1,334,414         7,710,275          ‐                           ‐                           Charges for services 222,540            195,224            2,085,910         502,776             ‐                           ‐                          157,795             ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          32,707                ‐                           ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          11,000                ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          80,000                ‐                           ‐                           ‐                           Investment Earnings 12,056               11,044               21,008               266                    21,914               35,873               83,297               68,537                ‐                          39,771                TOTAL REVENUES 234,596            206,268            2,106,918         503,042            5,065,852         5,079,810         1,666,506         7,811,519          ‐                          39,771                EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          500,735            139,923             ‐                           ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          153,323             ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                          503,030             ‐                           ‐                          157,402            511,778             ‐                          82,892                Capital Outlay ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          3,955,052         14,897,642        ‐                          121,844             TOTAL EXPENDITURES ‐                           ‐                          503,030             ‐                           ‐                          4,613,189         15,702,666        ‐                          204,736             Transfers In 1,484,964          ‐                           ‐                           ‐                           ‐                          3,177,680         4,633,641         1,858,387          ‐                          47,196                Transfers Out ‐                          436,987            102,837             ‐                          2,600,004         2,896,211         5,160,838          ‐                          16,679                ‐                           NET TRANSFERS 1,484,964         (436,987)           (102,837)            ‐                          (2,600,004)        281,469            (527,197)           1,858,387         (16,679)             47,196                CHANGE IN FUND BALANCE 1,719,560         (230,719)           2,004,081         12                       2,465,848         5,361,279         (3,473,880)        (6,032,760)        (16,679)             (117,769)            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          Prior Period Adjustment ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                          109,200             ‐                           ‐                           BEGINNING FUND BALANCE, Jan 1 ‐ restated 1,713,833         2,191,452         3,154,954          ‐                          2,042,269         3,411,866         20,298,663       16,901,613       16,679               8,356,704          ENDING FUND BALANCE, Dec 31 3,433,393$       1,960,733$       5,159,035$       12$                    4,508,117$       8,773,145$       16,824,783$    10,868,853$     ‐$                        8,238,935$        Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                        ‐$                        ‐$                        ‐$                        85,775$              ‐$                       28,500$              Grants / intergovernmental ‐                         69,496               ‐                          ‐                           ‐                            ‐                         936,498              Charges for services 1,752,501        20,819,209      2,776,650        18,756,458       11,328,259       17,881,960      12,592,595        Fines and penalties ‐                          ‐                          ‐                          ‐                          11,789                ‐                          ‐                            Rents, leases, and misc fees 1,433,254         ‐                         401,232           202,333              ‐                            ‐                          ‐                            Interest and other misc 39,156              13,636              6,659                567,000             747,027             22,890              2,378,868           TOTAL REVENUES 3,224,911        20,902,341      3,184,541        19,525,791       12,172,850       17,904,850      15,936,461        EXPENSES: Personnel 1,067,346        518,200           1,543,698        4,565,219         2,295,741           ‐                         3,861,860           Supplies 41,281              2,496                365,589           865,824             108,182              ‐                         133,904              Contracted Services 1,222,490        19,499,705      163,582           3,254,834         2,763,499          18,870,588      2,497,758           Internal Services 344,095           261,166           364,509           2,220,078         1,541,589           ‐                         2,446,763           TOTAL OPERATING EXPENSES 2,675,212        20,281,567      2,437,378        10,905,955       6,709,011          18,870,588      8,940,285           CAPITAL, AND TRANSFERS 549,699           620,774           747,163           8,619,836         5,463,839          (965,738)          6,996,176           DEBT SERVICE: Principal ‐                          ‐                          ‐                         1,563,068         612,850              ‐                         499,900              Interest ‐                          ‐                          ‐                         217,352             97,843                ‐                         111,349              TOTAL DEBT SERVICE ‐                          ‐                          ‐                         1,780,420         710,693              ‐                         611,249              CAPITAL OUTLAY 348,644            ‐                         12,662              3,759,249         7,954,437           ‐                         6,373,606           Transfers In ‐                          ‐                         68,100               ‐                           ‐                            ‐                         90,000                Transfers Out 16,130              94                      68,100              6,614                 6,239                   ‐                         28,919                NET TRANSFERS (16,130)            (94)                     ‐                         (6,614)                (6,239)                 ‐                         61,081                CHANGE IN FUND BALANCE 184,925           620,680           734,501           3,073,553         (3,207,530)        (965,738)          72,402                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, Dec 31 7,743,330$      3,392,242$      1,211,247$      43,849,867$     20,788,687$     3,764,011$      21,682,758$      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           1,055,480           AVAILABLE FUND BALANCE 7,520,206$      2,992,242$      569,747$         40,841,513$     19,213,236$     3,384,011$      19,872,410$      Monthly Financial Report                                                               City of Renton, Washington November 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 ‐$                            ‐$                           185,611$              ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                             40,651                   Charges for services: Equipment rental m&o 3,094,982             ‐                             4,714,050             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             333,656                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             493,561                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             4,924,841             ‐                              ‐                              ‐                              Interest and other misc 36,599                  91,871                  19,766                  3,016                    1,003                    30,268                  82,086                   Internal service fund misc: Vehicle / equipment capital recovery 3,560,907             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,740,148             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,437,572             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             12,300,979          2,624,684             Other misc 491                        41,181                  25,192                  148,175                18,275                  319,423                85,910                   Disposal of capital assets 177,671                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             203,978                 ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 6,870,650            3,514,750            4,944,619            5,076,032            846,495                12,650,670          2,833,331             EXPENSES: Personnel 1,053,073            1,095,735            2,819,902            2,991,378            661,597                11,262,941          1,121,366             Supplies 1,350,838            536                        537,837                586,829                28,045                  1,669                     ‐                              Contracted Services 289,224                2,731,282            2,273,316            1,404,851            164,960                438,974                64,951                   Internal Services 30,338                   ‐                              ‐                             129,486                2,000                    65,379                   ‐                              TOTAL OPERATING EXPENSES 2,723,473            3,827,553            5,631,055            5,112,544            856,602                11,768,963          1,186,317             AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 4,147,177            (312,803)              (686,436)              (36,512)                 (10,107)                 881,707                1,647,014             TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 398,268                 ‐                             237,601                46,092                   ‐                              ‐                              ‐                              Transfers In ‐                             1,000,000            643,551                361,194                 ‐                              ‐                              ‐                              Transfers Out ‐                             52,868                  6,000                     ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             947,132                637,551                361,194                 ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 3,748,909            634,329                (286,486)              278,590                (10,107)                 881,707                1,647,014             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, Dec 31 10,125,168$        20,494,537$        3,653,455$          782,757$             141,517$             6,655,136$          18,188,259$         Insurance Reserves ‐                             18,650,158           ‐                              ‐                              ‐                             3,774,249            18,188,259           Opearting Reserves ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 10,125,168$        1,844,379$          3,653,455$          782,757$             141,517$             2,880,887$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington November 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: Intergovernmental 171,853$               ‐$                             Investment Earnings 530,398                 ‐                               Collected for Others ‐                              1,624,229              TOTAL REVENUES 702,251                1,624,229              EXPENDITURES: Distributions to Others 277,267                1,624,229              TOTAL EXPENDITURES 239,380                1,624,229              NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 462,871                 ‐                               BEGINNING FUND BALANCE, Jan 1 7,908,312              ‐                               ENDING FUND BALANCE, Dec 31 8,371,183$            ‐$                             Monthly Financial Report                                                               City of Renton, Washington November 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, , Nate Malone nmalone@rentonwa.gov or Kari Roller at kroller@rentonwa.gov.  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through December 31, 2021 Funds Balance  01/01/2021 Budgeted  Revenue Revenue  12/31/21 Total Funds  Available Budgeted  Expenditure Expenditure  12/31/21 Ending Balance GENERAL FUND 54,456,582      126,195,473    120,835,966    175,292,548    127,627,610    107,353,982    67,938,566       SPECIAL REVENUE FUNDS: 2,943,226        2,853,474        3,611,868        6,555,094        2,756,543        883,022           5,672,072         110 Hotel Motel 893,604           225,000           312,419           1,206,023        596,197           477,601           728,422            127 Cable Communication 677,710           97,674             115,589           793,299           97,674             62,054             731,245            130 Housing and Supportive Services ‐                       2,640,000        3,171,729        3,171,729        1,030,000         ‐                       3,171,729         135 Springbrook Wetlands Bank 348,826           (109,200)          (106,792)          242,034           9,586               7,709               234,325            140 Police Seizure 872,449            ‐                       72,733             945,182           872,449           313,658           631,524            141 Police CSAM Seizure 150,637            ‐                       46,190             196,827           150,637           22,000             174,827            DEBT SERVICE FUND 5,010,629        7,493,298        7,332,969        12,343,598      7,155,169        7,125,473        5,218,125         CAPITAL PROJECT FUNDS (CIP): 57,978,833      58,172,641      34,025,350      92,004,183      96,518,052      32,237,177      59,767,006       303 Community Services Mitigation 1,713,833        1,571,464        1,719,560        3,433,393        2,796,229         ‐                       3,433,393         304 Fire Mitigation 2,191,452        99,000             206,268           2,397,720        436,987           436,987           1,960,733         305 Transportation Mitigation 3,154,954        200,000           2,106,918        5,261,872        102,837           102,837           5,159,035         308 REET1 2,042,269        3,250,000        5,065,852        7,108,121        2,865,000        2,600,004        4,508,117         309 REET2 3,411,866        6,427,680        8,257,490        11,669,356      7,066,705        2,896,211        8,773,145         31X School District Impact Mitigation ‐                       995,000           503,042           503,042           995,000           503,030           12                     316 Municipal Facilities CIP 20,298,663      13,589,300      6,300,147        26,598,810      33,725,991      9,774,027        16,824,783       317 Transportation CIP 16,792,413      30,470,197      9,779,106        26,571,519      46,062,467      15,702,666      10,868,853       336 New Library Development 16,679              ‐                        ‐                       16,679             16,679             16,679              ‐                        346 New Family First Center Dvlpmnt 8,356,704        1,570,000        86,967             8,443,671        2,450,157        204,736           8,238,935         ENTERPRISE FUNDS: 101,919,349    101,854,329    93,009,845      194,929,194    161,606,006    92,486,981      102,442,213     4X2 Airport Operating & CIP 7,558,405        3,282,007        3,224,911        10,783,316      9,587,446        3,041,565        7,741,751         403 Solid Waste Utility 2,771,562        23,024,017      20,902,341      23,673,903      22,902,330      20,281,661      3,392,242         4X4 Golf Operating & CIP 476,746           3,126,584        3,252,641        3,729,387        2,871,162        2,506,490        1,222,897         4X5 Water Operating & CIP 40,776,314      17,972,403      19,525,791      60,302,105      48,985,805      16,452,238      43,849,867       4X6 Waste Water Operating & CIP 23,996,217      11,786,486      12,172,850      36,169,067      28,637,433      15,380,380      20,788,687       416 King County Metro 4,729,749        17,607,838      17,904,850      22,634,599      17,607,838      18,870,588      3,764,011         407 Surface Water Utility 10,973,347      11,293,104      11,777,193      22,750,540      8,795,671        8,189,071        14,561,469       427 Surface Water Construction 10,637,009      13,761,890      4,249,268        14,886,277      22,218,321      7,764,988        7,121,289         4X7 Surface Water Operating & CIP 21,610,356      25,054,994      16,026,461      37,636,817      31,013,992      15,954,059      21,682,758       INTERNAL SERVICE FUNDS: 53,146,873      41,891,100      38,743,724      91,890,597      39,267,564      31,847,336      60,043,261       501 Equipment Repair/Replacement 6,376,259        6,463,395        6,870,650        13,246,909      5,289,546        3,121,741        10,125,168       502 Insurance 19,860,208      5,533,775        4,514,750        24,374,958      4,242,521        3,880,421        20,494,537       503 Information Services 3,939,941        7,205,985        5,588,170        9,528,111        8,089,687        5,874,656        3,653,455         504 Facilities 504,167           6,350,643        5,439,658        5,943,825        6,522,982        5,158,636        785,189            505 Communications 151,624           1,153,826        846,495           998,119           1,179,312        856,602           141,517            512 Insurance, Healthcare 5,773,429        12,477,543      12,650,670      18,424,099      12,580,831      11,768,963      6,655,136         522 Insurance, Leoff1 Retirees HC 16,541,245      2,705,933        2,833,331        19,374,576      1,362,685        1,186,317        18,188,259       FIDUCIARY FUNDS: 7,908,312        385,000           2,326,480        10,234,792      210,475           1,863,609        8,371,183         611 Firemens' Pension 7,908,312        385,000           702,251           8,610,563        210,475           239,380           8,371,183         630 Custodial Fund ‐                        ‐                       1,624,229        1,624,229         ‐                       1,624,229         ‐                        TOTAL FUNDS 283,363,804    338,845,315    299,886,202    583,250,006    435,141,419    273,797,580    309,452,426