HomeMy WebLinkAbout2016 CAFR - City of RentonCity of Renton
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Comprehensive Annual Financial Report
For the year ended December 31, 2016
i
CITY OF RENTON
2016
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended December 31, 2016
Administrative Services Department
City of Renton
1055 South Grady Way
Renton, Washington 98057
(425) 430‐6858
Website: www.rentonwa.gov
ii
ACKNOWLEDGEMENTS
Prepared by the Finance Division of the
Administrative Services Department
Administrative Services Administrator
Jan Hawn
Fiscal Services Director
Jamie Thomas
Accounting Staff
Misty Baker, Senior Finance Analyst
Jill Masunaga, Senior Finance Analyst
Hai Nguyen, Senior Finance Analyst
Kari Roller, Financial Services Manager
Kristi Rowland, Senior Finance Analyst
Kristin Trivelas, Senior Finance Analyst
Print and Mail Coordinator
Karl Hurst
Web Specialist
Beth Haglund
TABLE OF CONTENTS
DECEMBER 31, 2016
ITEM PAGE
iii
INTRODUCTORY SECTION
Letter of Transmittal ..................................................................................................................................... 1‐1
2015 Comprehensive Annual Financial Report Award ................................................................................. 1‐6
Corporate Organization Structure & Reporting Relations ............................................................................ 1‐7
FINANCIAL SECTION
Independent Auditor’s Report .................................................................................................................... 2‐1
Management Discussion and Analysis ........................................................................................................ 3‐1
Basic Financial Statements:
Government‐wide Financial Statements:
Statement of Net Position ............................................................................................................... 4‐1
Statement of Activities .................................................................................................................... 4‐2
Fund Statements:
Governmental Fund Financial Statements:
Balance Sheet .................................................................................................................................. 4‐3
Reconciliation of Balance Sheet to the Statement of Net Position ................................................. 4‐4
Statement of Revenues, Expenditures and Changes in Fund Balances ........................................... 4‐5
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities .................................... 4‐6
Proprietary Fund Financial Statements:
Statement of Net Position ............................................................................................................... 4‐7
Statement of Revenues, Expenses, and Changes in Net Position ................................................... 4‐9
Statement of Cash Flows ............................................................................................................... 4‐10
Fiduciary Fund Statements:
Statement of Fiduciary Net Position ............................................................................................. 4‐12
Statement of Changes in Fiduciary Net Position ........................................................................... 4‐13
Notes to Financial Statements:
Note 1: Significant Accounting Policies ........................................................................................ 4‐14
Note 2: Compliance and Accountability ....................................................................................... 4‐25
Note 3: Deposits and Investments ............................................................................................... 4‐28
Note 4: Property Taxes ................................................................................................................. 4‐31
Note 5: Capital Assets and Depreciation ...................................................................................... 4‐32
Note 6: Pensions ........................................................................................................................... 4‐35
Note 7: Other Post Employment Benefits .................................................................................... 4‐49
Note 8: Contingencies .................................................................................................................. 4‐51
Note 9: Risk Management ............................................................................................................ 4‐52
Note 10: Interfund Transactions ................................................................................................... 4‐54
Note 11: Long Term Debt .............................................................................................................. 4‐55
Note 12: Joint Ventures ................................................................................................................. 4‐60
Note 13: Airport Leases ................................................................................................................. 4‐62
Note 14: Capital Lease ................................................................................................................... 4‐63
Note 15: Tax Abatement ............................................................................................................... 4‐63
Note 16: Special Items ................................................................................................................... 4‐64
Note 17: Prior Period Adjustment ................................................................................................. 4‐65
Required Supplementary Information Other than MD&A:
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget to Actual
General Fund .......................................................................................................................................... 5‐1
TABLE OF CONTENTS
DECEMBER 31, 2016
ITEM PAGE
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Schedule of the City’s Proportionate Share of the Net Pension Liability‐PERS Plan 1 .......................... 5‐2
Schedule of the City’s Proportionate Share of the Net Pension Liability‐PERS Plan 2/3 ....................... 5‐3
Schedule of the City’s Proportionate Share of the Net Pension Liability‐PSERS Plan 2 ......................... 5‐4
Schedule of the City’s Proportionate Share of the Net Pension Liability‐LEOFF Plan 1......................... 5‐5
Schedule of the City’s Proportionate Share of the Net Pension Liability‐LEOFF Plan 2......................... 5‐6
Schedule of Employer Contributions WA Department of Retirement Systems .................................... 5‐7
Firefighters’ Pension Fund ‐ Schedule of Changes in Net Pension Liability and Related Ratios ............ 5‐8
Firefighters’ Pension Fund ‐ Schedule of Contributions ........................................................................ 5‐9
Firefighters’ Pension Fund – Schedule of Investment Returns ............................................................ 5‐10
LEOFF I Retiree Medical Benefits ‐ Schedule of Funding Progress………………………………. ................. ...5‐11
Combining Statements and Supplementary Information
Non‐Major Fund Descriptions ................................................................................................................ 6‐1
Combining Balance Sheet ...................................................................................................................... 6‐5
Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................. 6‐11
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget to Actual .................................................................................................................................. 6‐17
Combining Statement of Net Position, Non‐Major Enterprise Funds ................................................. 6‐28
Combining Statement of Revenues, Expenses and Changes in Fund Net Position,
Non‐Major Enterprise Funds ......................................................................................................... 6‐30
Statement of Cash Flows, Non‐Major Enterprise Funds ...................................................................... 6‐31
Combining Statement of Net Position, Internal Service Funds ............................................................ 6‐33
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position,
Internal Service Funds ................................................................................................................... 6‐35
Combining Statement of Cash Flows, Internal Service Funds .............................................................. 6‐36
Statement of Changes in Assets and Liabilities Agency Fund – Special Deposit ................................. 6‐38
STATISTICAL SECTION
Statistical Section Description ................................................................................................................ 7‐1
Financial Trends:
Table 1: Net Position by Component ................................................................................................. 7‐2
Table 2: Changes in Net Position ........................................................................................................ 7‐3
Table 3: Fund Balance of Governmental Funds ................................................................................. 7‐5
Table 4: Changes in Fund Balance of Governmental Funds ............................................................... 7‐6
Revenue Capacity:
Table 5: Water Utility Systems Revenue Information ........................................................................ 7‐7
Table 6: Principal Rate Payers ............................................................................................................ 7‐8
Table 7: Water Utility Rates ............................................................................................................. 7‐11
Table 8: General Government Tax Revenue by Source .................................................................... 7‐14
Table 9: Principal Property Tax Payers ............................................................................................. 7‐15
Table 10: Assessed Value of Taxable Property ................................................................................... 7‐16
Table 11: Property Tax Rates Direct and Overlapping Governments ................................................ 7‐17
Table 12: Property Tax Levies and Collections ................................................................................... 7‐18
Table 13: Sales Tax Collections by Sector ........................................................................................... 7‐19
Debt Capacity:
Table 14: Ratios of Outstanding Debt by Type ................................................................................... 7‐20
Table 15: Ratio of General Bonded Debt Outstanding to Assessed Value ......................................... 7‐21
Table 16: Legal Debt Margin Information .......................................................................................... 7‐22
TABLE OF CONTENTS
DECEMBER 31, 2016
ITEM PAGE
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Table 17: Per Capita General Obligation Debt ................................................................................... 7‐23
Table 18: Direct and Overlapping Governmental Activities Debt ...................................................... 7‐24
Table 19: Pledged‐Revenue Coverage for Water and Sewer Revenue Bonds ................................... 7‐25
Demographic and Economic Information:
Table 20: Demographic and Economic Statistics ................................................................................ 7‐26
Table 21: Principal Employers ............................................................................................................ 7‐27
Operating Information:
Table 22: Full Time Equivalent City Government Employees by Function ......................................... 7‐28
Table 23: Operating Indicators by Function ....................................................................................... 7‐29
Table 24: Utility Systems Supplemental Operating Information ....................................................... 7‐30
Table 25: Capital Assets Statistics by Function ................................................................................... 7‐31
2016 Comprehensive Annual Financial Report City of Renton, Washington
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Introduction, 1‐1
s
June 29, 2017
Honorable Denis Law, Mayor
Members of the Renton City Council
Residents of Renton
City of Renton, Washington
Mr. Mayor, Honorable Councilmembers, and Citizens of Renton:
We are pleased to present the City’s Comprehensive Annual Financial Report for the year ended December 31,
2016. The City maintains a system of internal controls designed to provide reasonable assurance that assets
are safeguarded against loss or unauthorized use, and that financial records can be relied upon to produce
accurate and fairly represented financial statements in accordance with generally accepted accounting
principles.
Management assumes full responsibility for the completeness and reliability of the information contained in
this report. To the best of our knowledge and belief, the enclosed financial statements and all supporting
schedules are accurate in all material respects and are reported in a manner designed to present fairly the
financial position and results of operations of the City. The concept of reasonable assurance recognizes that
the cost of a control should not exceed the benefits likely to be derived, and the evaluation of the relative
costs and benefits of the control system requires estimates and judgments by management.
These financial statements have been audited by the Washington State Auditor’s Office. This independent
audit was conducted in accordance with generally accepted auditing standards and generally accepted
government auditing standards to provide an independent assessment of fair presentation of the City’s
financial position. The State Auditor’s Office has issued an unqualified (“clean”) opinion on the City’s financial
statements, which is included at the front of the financial statement section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the State Auditor’s report and provides a
narrative introduction, overview, and analysis to accompany the basic financial statements. This letter of
transmittal is designed to complement the MD&A and should be read in conjunction with it.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐2
PROFILE OF THE CITY
Incorporated on September 6, 1901, Renton is a city in King County, Washington. Situated 11 miles southeast
of downtown Seattle, 5 miles from SeaTac Airport, Renton straddles the southeast shore of Lake Washington,
at the junction of key north‐south and east‐west transportation corridors. The City’s early economy was based
on coal mining, clay production, and timber export. Today, Renton is best known as the final assembly point
for the Boeing 737 family of commercial airplanes, but it is also home to a growing number of well‐known
manufacturing, technology, health care service companies and government institutions, including Boeing,
Paccar, Wizards of the Coast gaming, Ikea Home Furnishing, Valley Medical Center, Providence Health &
Services, The Seattle Seahawks headquarters, Seattle Branch of Federal Reserve Bank, and FAA Northwest
Regional office.
The City of Renton has a strong mayor form of government with an appointed Chief Administrative Officer.
The Mayor is independently elected to a four‐year term. The Mayor’s job is to manage day‐to‐day operations,
and to lead policy development and implementation with the seven‐member City Council elected at large on a
non‐partisan basis.
With a population of 101,300 in 2016, Renton is the 8th largest city in the state, and the 4th largest in King
County. The City provides a full range of municipal services to an incorporated area of 24.03 square miles.
These services include police, street construction and maintenance, planning and zoning, parks and recreation,
municipal court, and general administrative services.
The City operates four utilities: water, sewer, surface water, and solid waste. These are operated very similar
to a private business where the revenues from rates and other direct sources must pay for the operational,
capital, and long‐term debt costs. The City has its own water supplies and does not rely on purchased water
to meet normal service demands. The City’s sewage is treated by King County, but the City is responsible for
transferring and maintaining the system to King County. The City bills Renton residents a monthly fee for the
cost of sewer treatment performed by King County.
The City operates the Maplewood Golf Course, which collects green fees, driving range fees, revenue from the
restaurant vendor, and other miscellaneous revenue. The golf course has short‐term operational costs and an
active capital maintenance program.
The Renton Municipal Airport is used by small private plane operators, a floatplane company, and Boeing
initiates its maiden 737 flights from this airport. The operational costs of the airport are paid from hangar
rentals and tie‐down fees. Major capital projects are paid by fees or with Federal Aviation Administration
grants.
Since the 2011‐12 biennium, the City has adopted a biennial budget. The Council is required to adopt an initial
budget for the biennium no later than December 31 preceding the beginning of the fiscal year on January 1.
The City of Renton maintains budgetary controls to ensure compliance with legal provisions embodied in the
budget. All activities are appropriated through the budget process and published in the City’s Budget
document. The City Council must adopt an ordinance to increase or decrease total appropriations in a Fund.
The Mayor has the authority to move appropriations within a Fund.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐3
A more thorough discussion of the City’s accounting policies can be found under the Summary of Significant
Accounting Policies in the Notes to the Financial Statements.
ECONOMIC CONDITION AND OUTLOOK
Renton’s economy continues to recover at a steady pace. In terms of employment, the Puget Sound region
has outpaced national results in 2016 with an overall employment growth rate of 3.1% (versus 1.6%
nationwide). Based on City business license records, City of Renton employment has added 2,455 jobs over the
last three years (a 5 percent increase since 2013). Employment growth during this time frame is largely
attributable to: 1. Boeing’s production ramp‐up of 737 from 42 to 47 planes per month during 2014‐2016 and;
2. the expansion of service industry jobs in Renton. As expected, there was slower job growth in 2015 and
2016 now that Boeing has completed its employment ramp‐up. Employment in Renton is expected to
continue to have steady growth of 1.3 percent, through 2020.
The City of Renton is following the regional trend of a strong recovery in the housing sector, with assessed
value increasing 6.9% for existing homes in 2016. Residential building permits are expected to remain steady
at 325 new units per year through 2020, leading to an expected annual population growth of 1.7 percent.
The City of Renton saw strong sales and retail tax revenue growth in 2016 with taxable sales 12.4% over 2015.
Although the construction sector has not recovered to the high of 2008, it was the main driver of overall sales
and retail tax growth in 2016, with a 55 percent increase over 2016 over 2015 which was driven by several
large new construction projects. The services and wholesale sectors also remain strong at 9.5 percent and
19.7 percent growth, respectively, in 2016.
The Seattle Seahawks’ headquarters/training facility is located within the City and is the second‐largest facility
in the NFL at 200,000 square feet, located along the waterfront of Lake Washington. The training facility sits 3
miles north of The Landing, a shopping center that was fully completed in early 2010. Currently, the shopping
center occupancy is at 99% and approximately $1.1 million in sales tax was generated from The Landing in
2016, a 69% increase over 2010.
Perhaps the most significant economic impact for the City is the wide diversity of development activity and
private investment that is currently taking place within the City. In the South Lake Washington area, just north
of The Landing, a new waterfront Hyatt Regency hotel with 355 rooms and 750,000 square feet of class A
office space is expected to open mid‐2017; IKEA completed a new 400,000 square foot state‐of‐the‐art retail
addition in 2016; and Kaiser Permanente is nearing completion of their new 29‐acre headquarters.
Overall, the economic outlook for Renton remains strong for 2017 and beyond; a continuing increase in
housing permits, a lower unemployment rate, and large‐scale capital investments within the City will support a
healthy growth in taxable retail sales and an attractive center for healthcare, retail, and manufacturing.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐4
LONG‐TERM FINANCIAL PLANNING
Unrestricted fund balance (the aggregate of committed, assigned, and unassigned components of fund
balance) in the general fund was 31 percent of the total general fund expenditures, compared to 15 percent
in 2011. In addition to unrestricted fund balance in the general fund, the City Council has accumulated fund
balances of $7.5 million for catastrophic reserves in the City’s Insurance Fund.
The ramp‐up of these fund balances was a direct result of an enhanced stabilization fund policy, which was
originally adopted in late‐2013. During the great recession the City depleted much of its reserves and although
several economic factors are improving, the City still faces several short and long‐term constraints. The rate of
healthcare and salary costs and deferred maintenance on City buildings continue to increase at a faster rate
than revenues. In addition, the 10‐year sales tax annexation credit will sunset in mid‐2018, which currently
provides approximately $2.4 million in sales tax revenue to the general fund. The enhanced stabilization fund
policy will help the City bridge the ever increasing gap between operating expenditures and revenues.
As part of the enhancements to the City’s stabilization policy, the Council also adopted a reserve fund for
Economic Development, which currently has accumulated a $1.0 million balance. The reserve fund will help
the City leverage Local Revitalization Financing (LRF) funds made available by the State of Washington. The
LRF program can make available up to $500,000 to be spent on “revitalization areas”, but the funding requires
a local match, which is why the Council has created a reserve fund. In the long‐term, the LRF program will
help spur sustainable economic activity in an area that currently lags behind the rest of the City.
As part of the 2015‐2016 biennial budget, the City Council adopted a Business and Occupation (B&O) Tax,
effective January 1, 2016. The B&O tax was structured in a way to minimize the impact to the business
community, while at the same time generating enough sustainable revenue for funding General Fund
operations into the future, without significant decreases to basic City services. The B&O tax generated $6.3
million in additional general fund revenue for 2016 and is estimated to generate $6.8 million in 2017.
The City has been very responsible and responsive in balancing the services the community needs with the
changing mixture and level of resources. In addition to strong financial policies, the City has also continued to
expand its economy and pursue progressive economic development strategies to maintain a thriving and
sustainable economy.
RELEVANT FINANCIAL POLICIES
The City has adopted a comprehensive set of financial policies. In 2013 the City Council made amendments to
its policies to enhance its stabilization policy and begin ramping up reserves for future general fund funding
gaps, long‐term economic development initiatives, capital commitments, equipment reserves, catastrophic
and anti‐recessionary reserves, and general operating cash flow requirements.
Due to strong financial policies and management, the City of Renton has maintained a LTGO bond rating of
AA+ (reaffirmed by both Fitch and Standard and Poor’s in early 2015), and a AA+ revenue bond rating from
Fitch Ratings (July 2014).
2016 Comprehensive Annual Financial Report City of Renton, Washington
Introduction, 1‐5
OTHER INFORMATION
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate
of Achievement for Excellence in Financial Reporting to the City of Renton for its comprehensive annual
financial report for the fiscal year ended December 31, 2015. The City has a long history of achieving this
prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily
readable and efficiently organized comprehensive annual financial report. This report must satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive
annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are
submitting it to the GFOA to determine its eligibility for another certificate.
The dedicated staff of the Finance Division work hard each day to ensure that the City’s financial transactions
are processed accurately and records are maintained orderly and in conformance with policies and
procedures. Special thanks are due to Misty Baker, Senior Financial Analyst, who served as the CAFR project
lead. Further appreciation is extended to the City Council and City Management for their support in conducing
financial operations of the City in a sound and progressive manner, and in conformance with internal and
external requirements.
For more information regarding the City’s budget please refer to the city’s website for 2015‐2016 adopted
budget as well as monthly sales tax and budgetary financial reports.
Respectfully,
Jamie Thomas
Fiscal Services Director
ADMINISTRATIVE SERVICES
Jan Hawn, Administrator
425‐430‐6858
RENTON CITIZENS
MAYOR
Denis Law
425‐430‐6500
MUNICIPAL COURT JUDGE
Terry Jurado
425‐430‐6550
CITY COUNCIL
Armondo Pavone, President
Don Persson, Randy Corman, Ruth
Perez, Carol Ann Witschi, Ryan
McIrvin
425‐430‐6500
CHIEF ADMINISTRATIVEOFFICER
Jay Covington
425‐430‐6500
COMMUNITY SERVICES
Kelly Beymer, Administrator
425‐430‐6600
PUBLIC WORKS
Gregg Zimmerman, Administrator
425‐430‐7394
EXECUTIVE
COMMUNITY AND ECONOMIC
DEVELOPMENT
Chip Vincent, Administrator
425‐430‐6580
POLICE
Kevin Milosevich, Chief
425‐430‐7503
HUMAN RESOURCES & RISK
MANAGEMENT
Ellen Bradley‐Mak, Administrator
425‐430‐7650
Facilities
Michael Kirk, Director
Renton History Museum
Elizabeth Stewart, Manager
Neighborhoods, Resources,
and Events
Carrie Nass, Manager
Maintenance Services
Michael Stenhouse, Director
Utility Systems
Lys Hornsby, Director
Transportation Systems
Jim Seitz, Director
Economic Development
Cliff Long, Director
Development Services
VACANT, Director
Planning
Mayor's Office
City Clerk / Cable Manager
Jason Seth, City Clerk
Communications
Preeti Shridhar, Deputy Public
Affairs Administrator
Support Operations Bureau
Field Operations Bureau
Emergency Management
Deborah Needham, Director
Human Resources
Kim Gilman, Manager
Risk Management
Gary Lamb, Manager
Benefits
VACANT, Manager
Finance
Jamie Thomas, Director
Information Technology
Mehdi Sadri, Director
Staff Services
Special Operations
Investigations
Administrative
Services
Patrol Services
Patrol Operations
CITY ATTORNEY
Shane Maloney, Administrator
425‐255‐8678
Parks & Golf Course
Cailin Hunsaker, Director
Human Services
Guy Williams, Manager
Parks Planning & Natural
Resources
Leslie Betlach, Director
Recreation
Mary Jane Van Cleave, Director Jennifer Henning, Director
Airport
Harry Barrett, Jr., Manager
2016 Comprehensive Annual Financial Report City of Renton, Washington
Introduction 1‐8
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Insurance Building, P.O. Box 40021 Olympia, Washington 98504-0021 (360) 902-0370 Pat.McCarthy@sao.wa.gov
INDEPE NDENT AUDITOR’S REPO RT ON FINAN C I AL STATEMENTS
June 29, 2017
Mayor and City Council
City of Renton
Renton, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund and the aggregate remaining fund information of the City of Renton, King
County, Washington, as of and for the year ended December 31, 2016, and the related notes to the financial
statements, which collectively comprise the City’s basic financial statements as listed in the table of
contents.
Management’s Responsibility for the F inancial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment
of the risks of material misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the City’s preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal
control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
Office of the Washington State Auditor
Pat McCarthy
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, each major fund
and the aggregate remaining fund information of the City of Renton, King County, Washington, as of
December 31, 2016, and the respective changes in financial position and, where applicable, cash flows
thereof for the year then ended in accordance with accounting principles generally accepte d in the United
States of America.
Matters of Emphasis
As discussed in Note 16 to the financial statements, the City transferred assets associated with its library
operations to the King County Library System. The City also transferred assets associated with its fire
operations to the Regional Fire Authority. Our opinion is not modified with respect to these matters.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis on pages 3-1 through 3-11, budgetary comparison information on page 5-1, pension
plan information on pages 5-2 through 5-10 and information on postemployment benefits other than
pensions on page 5-11 be presented to supplement the basic financial statements. Such information,
although not a part of the basic financial statements, is required by the Governmental Accounting Standards
Board who considers it to be an essential part of financial reporting for placing the basic financial statements
in an appropriate operational, economic or historical context. We have applied certain limited procedures
to the required supplementary information in accordance with auditing standards generally accepted in the
United States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our inquiries,
the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The accompanying information listed as combining
financial statements and supplementary information on pages 6-1 through 6-38 is presented for purposes of
additional analysis and is not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying accounting and
other records used to prepare the financial statements. This information has been subjected to auditing
procedures applied in the audit of the basic financial statements and certain additional procedures, including
comparing and reconciling such information directly to the underlying accounting and other records used
to prepare the financial statements or to the financial statements themselves, and other additional procedures
in accordance with auditing standards generally accepted in the United States of America. In our opinion,
the information is fairly stated, in all material respects, in relation to the basic financial statements taken as
a whole.
The information identified in the table of contents as the Introductory and Statistical Sections is presented
for purposes of additional analysis and is not a required part of the basic financial statements of the City.
Such information has not been subjected to the auditing procedures applied in the audit of the basic financial
statements and, accordingly, we do not express an opinion or provide any assurance on it.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS
In accordance with Government Auditing Standards, we will also issue our report dated June 29, 2017, on
our consideration of the City’s internal control over financial reporting and on our tests of its compliance
with certain provisions of laws, regulations, contracts and grant agreements and other matters. That report
will be issued under separate cover in the City’s Single Audit Report. The purpose of that report is to
describe the scope of our testing of internal control over financial reporting and compliance and the results
of that testing, and not to provide an opinion on internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing Standards in
considering the City’s internal control over financial reporting and compliance.
Sincerely,
Pat McCarthy
State Auditor
Olympia, WA
2016 Comprehensive Annual Financial Report City of Renton, Washington
Independent Auditor’s Report, 2‐4
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2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐1
MANAGEMENT’S DISCUSSION AND ANALYSIS
The City of Renton’s management offers this Management’s Discussion and Analysis (MD&A), which is an
overview and analysis of the City of Renton’s financial activities for the year ended December 31, 2016. To
best understand the City’s financial activities, we encourage readers to consider the information in this
discussion and analysis in conjunction with information provided in the letter of transmittal and the basic
financial statements.
FINANCIAL HIGHLIGHTS
• As of December 31, 2016, the City of Renton’s total assets and deferred outflows of resources exceed
liabilities and deferred inflows of resources by $879 million. Of this amount, $124 million represents
unrestricted net position, which may be used the meet the government’s ongoing obligations to
citizens and creditors.
• The City of Renton’s total net position increased $11.7 million, due to accumulation of reserves, capital
asset acquisitions, and the reduction of long‐term debt in both the governmental and business‐type
activities. These increases were offset by the operations transfer of the City’s fire department to a
separately legal regional fire authority, which included a reduction of capital assets and net pension
assets.
• Government‐wide, the City of Renton transferred $33 million in assets to the newly formed regional
fire authority and $19 million in capital assets to the King County Library System.
• At the close of the current fiscal year, the City of Renton’s governmental funds reported combined
fund balances of $63.9 million, an increase of $15.3 million from 2015. This increase is due to a steady
increase in tax revenue, including the newly implemented Business and Occupation Tax ($5.8 million
contribution to overall increase) and an accumulation of unspent municipal facility capital project
funds.
• Approximately 45 percent ($28.5 million) of the total governmental fund balance is available for
spending at the City’s discretion (unassigned fund balance).
• Total unrestricted fund balance (the total of committed, assigned and unassigned fund balance
components) for the general fund was $28.8 million, which is approximately 31 percent of general
fund 2016 expenditures.
• The City of Renton’s total outstanding long‐term debt decreased by $3.6 million during the current
fiscal year because current resources and grants are being used to finance current operations and
capital projects. The City has continued to pay down its current debt obligations without issuance of
new debt.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis provided here are intended to serve as an introduction to the City’s basic financial
statements. The basic financial statements consist of three components: (1) government‐wide financial
statements, (2) fund financial statements, and (3) notes to the basic financial statements.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐2
Government‐wide Financial Statements
The government‐wide financial statements provide both long‐term and short‐term information about the
City’s overall financial status, in a manner similar to a private‐sector business.
Statement of Net Position – The first of these government‐wide statements is the statement of net position.
The statement of net position presents the City’s assets, liabilities, and deferred inflows/outflows of
resources, with the difference reported as net position. Over time, increases or decreases in net position may
serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
Statement of Activities – The second government‐wide statement is the statement of activities, which reports
how the City’s net position changed during the current fiscal year. All changes in net position are reported as
soon as the underlying event giving rise to the change, regardless of the timing of related cash flows. Thus,
revenues and expenses are reported for some items that will only result in cash flows in future fiscal periods
(ex. uncollected taxes and compensated absences). An important purpose of the design of the statement of
activities is to show the financial reliance of the City’s distinct activities or functions on revenues provided by
the City’s taxpayers. Another indicator to consider when evaluating the financial position of the City includes
changes to the property tax base, general economic conditions as demonstrated through business licenses
fees or sales tax revenue, and the condition of the City’s infrastructure (roads, drainage systems, bridges, and
water infrastructure).
Both of the government‐wide financial statements distinguish governmental activities of the City (activities
principally supported by taxes and intergovernmental revenue), and business‐type activities of the City
(activities that are intended to recover all, or a significant portion, of their costs through user fees and
charges). Governmental activities include general government, judicial, public safety, utilities, transportation,
economic environment, health and human services, and culture and recreation. The equipment rental and
insurance internal service funds are also reported as governmental activities. The business‐type activities
include the waterworks utility, solid waste, airport, and golf course funds. The government‐wide financial
statements can be found on page 4‐1 and 4‐2 of this report.
Fund Financial Statements
The City uses fund structure to ensure and demonstrate fiscal integrity and compliance with finance‐related
legal requirements. A fund is a group of related accounts used to maintain control over resources that have
been segregated for specific activities and objectives. There are three types of funds: governmental,
proprietary, and fiduciary. The fund financial statements focus on major funds separately while all others are
combined into a single aggregated presentation. Individual data for non‐major funds is presented in a
following section, Combining Statements.
Governmental Funds – The governmental funds are used to account for the same functions reported as
governmental activities in the government‐wide financial statements. However, unlike the government‐wide
statements, the focus of governmental fund financial statements is on near‐term inflows and outflows of
available financial resources and on balances of resources available at the end of the fiscal year. Such
information is useful in evaluating whether there are more or less financial resources that can used in the
near future to finance City services.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐3
Because the focus of governmental fund financial statements is a narrower view than that of the government‐
wide financial statements, it is useful to compare similar information in order to gain a better understanding
of the long‐term impact of the government’s near‐term financing decisions. The Reconciliation of the Balance
Sheet and Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund reconciles to the
differences between the governmental fund statements and the governmental activities column in the
government‐wide statements.
The City maintains thirteen individual governmental funds. Information for the City’s major governmental
funds (general and municipal facilities CIP) are presented separately in the governmental fund balance sheet
and the governmental fund statement of revenues, expenditures, and changes in fund balance. Data from the
other eleven funds are combined into are combined into a single aggregated presentation. Individual fund
data for each of these non‐major governmental funds is presented in the combining statements section of this
report.
The City maintains budgetary controls over its governmental funds. Budgetary controls ensure compliance
with legal provisions embodied in the annual appropriated budget. Governmental fund budgets are
established in accordance with state law and are adopted on a fund level. A budgetary comparison statement
has been provided for the general fund to demonstrate compliance with this budget. The basic governmental
fund financial statements can be found on pages 4‐3 and 4‐5 of this report.
Proprietary Funds – The proprietary fund statements present information for two types of funds. Enterprise
funds operate as business‐type activates in the government‐wide statements and include the waterworks
utility, solid waste, golf course, and airport funds. The other proprietary fund types are internal service funds.
Internal service funds are used to report activities that provide supplies and services to various City
departments and to allocate the associated costs of providing these services to the various governmental and
enterprise functions. The revenues and expenses of internal service funds that support governmental
activities are eliminated in the government‐wide statements and the remaining activity is combined within
the governmental activities in the government‐wide statements.
The proprietary fund statements provide the same information as the government‐wide financial statements,
only in more detail. The City reports the activity of its two major enterprise funds, waterworks utility (water,
wastewater, and storm water) and solid waste separately. Information from the remaining non‐major
enterprise funds are combined and presented in a single, aggregated column in the fund statements. Internal
service funds are also aggregated and reported separately in this section. The basic proprietary fund financial
statements can be found on pages 4‐7 through 4‐11 of this report.
Fiduciary Funds – Fiduciary Funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are not reported in the government‐wide financial statements because the
resources of those funds are not available to support the City’s own operations. The accounting used for
fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statements can be
found on pages 4‐12 and 4‐13 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the information provided
and are an integral part of the government‐wide and fund financial statements. The notes to the financial
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐4
statements can be found pages 4‐14 through 4‐65 of this report.
Other information
In addition to the basic finance statements and accompanying notes, this report also presents:
1. Required Supplemental Information (RSI)
RSI provides budgetary comparisons for the general fund as well as the City’s funding progress for the
Firefighters’ Pension Trust Fund and Other Post‐Employment Benefits (LEOFF 1 Retiree Medical). RSI can
be found on page 5‐1 through 5‐10 of this report.
2. Combining Statements
The combining statements provide additional detail for other government funds, internal service funds,
and fiduciary funds. Combining and individual fund statements and schedules can be found on page 6‐1
through 6‐38 of this report.
3. Statistical Information
This section includes unaudited trends and demographic information. The statistical section can be found
on page 7‐1 through 7‐31 of this report.
GOVERNMENT‐WIDE FINANCIAL ANALYSIS
Statement of Net Position
The following is a summary of the City’s net position as of December 31, 2016, with comparison to 2015:
2016 2015 2016 2015 2016 2015
Current assets 116,631,252$ 103,893,440$ 77,138,349$ 64,451,824$ 193,769,601$ 168,345,264$
Capital assets 478,960,485 505,253,938 307,693,107 300,905,922 786,653,592 806,159,860
Other non‐current assets 45,400,562 54,357,626 83,995 58,925 45,484,557 54,416,551
TOTAL ASSETS 640,992,299 663,505,004 384,915,451 365,416,671 1,025,907,750 1,028,921,675
Deferred Outflows of Resources 7,243,997 5,467,360 2,404,439 1,537,142 9,648,436 7,004,502
Long‐term liabilities 102,405,216 105,387,530 36,934,845 37,623,881 139,340,061 143,011,411
Other liabilities 11,925,756 14,228,019 4,601,923 3,740,725 16,527,679 17,968,744
TOTAL LIABILITIES 114,330,972 119,327,398 41,536,768 41,364,606 155,867,740 160,692,004
Deferred Inflows of Resources 512,546 6,780,859 130,285 867,175 642,831 7,648,034
NET POSITION:
453,278,700 465,624,879 279,506,339 270,481,976 732,785,039 736,106,855
Restricted 18,939,968 26,987,147 2,909,578 2,909,578 21,849,546 29,896,725
Unrestricted 61,174,111 49,963,930 63,236,920 51,330,478 124,411,031 101,294,408
TOTAL NET POSITION 533,392,778$ 542,575,956$ 345,652,837$ 324,722,032$ 879,045,615$ 867,297,988$
Net Investment in Capital Assets
Governmental Activities Business‐type Activities
CONDENSED STATEMENT OF NET POSITION
Total
As noted earlier, the change in net position over time, may serve as a useful indicator of a government’s
financial situation. At the close of the most recent fiscal year, assets and deferred outflows of resources
exceeded liabilities and deferred inflows of resources by $879 million, an $11.7 million increase over 2015.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐5
Net Position – Net Investment in Capital
Assets. $733 million (83%) of total net
position reflects the City’s investment in
capital, net of related debt that was used
to acquire those assets. The City uses
these assets to provide a variety of
services to citizens. Accordingly, these
assets are not available for future
spending. Although investment in capital
assets are reported net of related debt, it
should be noted that the resources used
to repay this debt must be provided from
other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Net Position – Restricted. Total restricted
net position accounts for $22 million of
the City’s net position, which is an $8
million decrease (27%) from 2015. This
entire decrease is a result of the City’s
operational transfer of fire services to the
legally separate regional fire authority.
The decrease in restricted net position is
due to the transfer of the fire
department’s portion of net pension
asset.
Net Position – Unrestricted. The remaining $124 million of net position is unrestricted may be used to meet
the government’s ongoing obligations for
governmental and business type activities
($61 million and $63 million, respectively).
At the end of the current fiscal year, the
City reports a positive net position in all
net position categories, for both
governmental activities and business‐type
activities. The same held true for the
prior fiscal year. Further, all categories of
net position increased in the current fiscal
year.
‐
5
10
15
20
25
30
2016 2015
Mi
l
l
i
o
n
s
Net Position ‐Restricted
Governmental Activities Business ‐type Activities
‐
100
200
300
400
500
600
700
2016 2015
Mi
l
l
i
o
n
s
Net Position ‐Net Investment in Capital Assets
Governmental Activities Business ‐type Activities
‐
20
40
60
80
100
120
2016 2015
Mi
l
l
i
o
n
s
Net Position ‐Unrestricted
Governmental Activities Business ‐type Activities
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐6
Statement of Activities and Change in Net Position
The following is a condensed summary statement of activities and change in net position as of December 31,
2016, with comparison to 2015.
CONDENSED STATEMENT OF ACTIVITIES
2016 2015 2016 2015 2016 2015
Revenues:
Program revenues:
Charges for services 22,835,685$ 27,304,155$ 75,752,373$ 75,326,914$ 98,588,058$ 102,631,069$
Operating grants and contributions 8,226,834 6,614,030 8,400,008 704,367 16,626,842 7,318,397
Capital grants and contributions 10,913,636 8,658,075 12,559,755 23,291,274 23,473,391 31,949,349
Taxes and other general revenues:‐
Property taxes 37,105,988 35,418,323 ‐ ‐ 37,105,988 35,418,323
Sales taxes 32,933,987 29,567,506 ‐ ‐ 32,933,987 29,567,506
Other Taxes 32,500,664 26,297,852 ‐ ‐ 32,500,664 26,297,852
Other general revenue 3,201,190 1,900,565 350,982 (438,189) 3,552,172 1,462,376
Total revenues 147,717,984 135,760,506 97,063,118 98,884,366 244,781,102 234,644,872
Expenses:
General government 10,230,923 9,829,338 ‐ ‐ 10,230,923 9,829,338
Judicial 2,501,487 2,342,557 ‐ ‐ 2,501,487 2,342,557
Public safety 49,272,668 57,863,131 ‐ ‐ 49,272,668 57,863,131
Utilities 691,798 694,469 ‐ ‐ 691,798 694,469
Transportation 19,560,699 15,918,953 ‐ ‐ 19,560,699 15,918,953
Economic and natural environment 7,578,069 7,362,822 ‐ ‐ 7,578,069 7,362,822
Health and human services 2,098,190 1,925,253 ‐ ‐ 2,098,190 1,925,253
Culture and recreation 12,999,863 13,636,384 ‐ ‐ 12,999,863 13,636,384
Interest on long‐term debt 948,685 1,247,934 ‐ ‐ 948,685 1,247,934
Waterworks utility ‐ ‐ 53,960,170 44,983,542 53,960,170 44,983,542
Airport ‐ ‐ 2,974,582 3,818,201 2,974,582 3,818,201
Solid waste utility ‐ ‐ 16,850,054 16,907,652 16,850,054 16,907,652
Golf course ‐ ‐ 2,173,590 2,200,740 2,173,590 2,200,740
Total expenses 105,882,382 110,820,841 75,958,396 67,910,135 181,840,778 178,730,976
41,835,602 24,939,665 21,104,722 30,974,231 62,940,324 55,913,896
Transfers 173,917 131,491 (173,917) (131,491) ‐ ‐
Special Items (51,192,697) ‐ ‐ ‐ (51,192,697) ‐
Increase (decrease) in net position (9,183,178) 25,071,156 20,930,805 30,842,740 11,747,627 55,913,896
Net position ‐ beginning 544,800,022 533,384,879 325,256,881 300,482,382 870,056,903 833,867,261
Prior Period Adjustment (2,224,066) (13,656,013) (534,849) (6,068,241) (2,758,915) (19,724,254)
Net position ‐ ending 533,392,778$ 544,800,022$ 345,652,837$ 325,256,881$ 879,045,615$ 870,056,903$
Governmental Activities Business‐type Activities Total
Increase in net position before transfers
and special items
Citywide revenue. Total revenue (governmental and business‐type) increased by $10 million, or 4 percent.
Most which is attributed to an increase in taxes and general revenue ($13.3 million) – most notably a $1
million increase in police forfeitures, $1.5 million increase in property tax, $3.5 million increase in retail sales
tax, and a $5.8 million increase in business taxes, which was a direct result of the City’s newly implemented
Business and Occupation tax effective January 1, 2016. This large increase in taxes and general revenue was
offset by a decrease in service charges collected from King County Fire District #40 and #25 ($2.8 million).
Since fire operations were transferred mid‐year to the new regional fire authority, the city only received six
months of service revenue from King County Fire Districts #40 and #25.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐7
Citywide expenses. Expenses totaled $182 million in 2016, a $3.2 million increase from 2015. Governmental
activities decreased by $5 million (or 4.5 percent) while business activities increased by $8 million (or 11.9
percent). The decrease in governmental expense is related to the transfer of fire operations to the regional
fire authority ($8.5 million decrease in public safety expense). However, this large decrease in public safety
expenses is offset by the non‐operating cash transfer, which is reported as a special item. Also offsetting the
decrease in public safety expenses is a $3.5 million increase in transportation expenses, which is directly
related to a large repair and maintenance roadway project. The increase in business‐type expenses was
related to a large surface water maintenance project.
Change in net position. The resulting change in net position was an increase in 2016 by $11.7 million: a $9.2
million decrease from governmental activities and $20.9 million increase from business‐type activities. The
decrease in governmental activities was due to two large special items; a capital asset transfer to the King
County Library System and capital and operating asset transfers to the newly formed regional fire authority.
The asset transfers were partially offset by increased tax revenue. The increase in net position for business‐
type activities is related to the gradual accumulation of reserve balances in the waterworks utility fund to
finance large capital rehabilitation and maintenance projects in the future.
Governmental Activities Analysis
Governmental activities cost a total of $105.8 million in 2016 against program generated revenue (excluding
taxes and other general revenue) of $41.9 million. Program revenues support 40 percent of the governmental
program costs, while the remaining 60 percent of governmental program costs are supported by general
revenues (taxes and other general revenue). Compared to 2015, governmental activities cost $110.8 million
($5 million decrease) and program revenues totaled $42.6 million ($600 thousand decrease).
Chart 1 portrays the extent that the cost of each of the City’s governmental programs is supported by its own
program generated revenue (fees, intergovernmental revenues, and contributions specifically related to that
program). Public safety accounts for 47 percent of the total governmental activity costs, but generates the
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐8
lowest percentage of program revenues compared to its program costs (14 percent). Conversely, judicial
recovered all of their costs in 2016 through program revenues, which consist of traffic citations, parking
citations, criminal charges, miscellaneous court fees, and red light camera fees.
Chart 2 depicts the source breakdown for all
revenues that fund governmental activities.
Approximately sixty nine percent of the total
governmental activity revenues come from
taxes. The City’s largest governmental
revenue source is property tax (25 percent)
and second largest source is retail sales tax
(22 percent). Other tax sources accounts for
22 percent of the City’s general
governmental revenue which includes
business license fees/business and
occupation tax (18 percent) and excise tax (4
percent). The remaining 2 percent, other
general revenue, accounts for interest, and
miscellaneous revenue. While program
specific charges for services, grants and
contributions generate thirty one percent of
total revenue for general governmental
activities, the City is largely dependent on tax revenue and as a result, the general economy have a major
impact on the City’s revenue streams.
Business‐Type Activities Analysis
Since the primary source of revenue for business‐type activities is user fees and charges, there is much less
disparity between program costs and related program revenue. Chart 3 shows the expense of each of the
City’s business‐type program along with each programs’ revenue (fees and intergovernmental revenues
specifically related to that
program).
The Waterworks Utility
generated $53.7 million in
fees for services, and the
operating and debt service
costs were $54 million. In
addition, the waterworks
utility received $20.7
million in grants,
contributions, and capital
contributions from
developers, for a combined
increase in net position of
$20.7 million. The
Charges for
Services
16%
Capital Grants
and
Contributions
7%
Operating
Grants and
Contributions
6%
Property Taxes
25%
Sales and Use
Taxes
22%
Other Taxes
22%
Other General
Revenues
2%
Chart 2:
Revenues by Source ‐Governmental Activities
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐9
operating balance is necessary for future planned system infrastructure replacements, repairs, and
enhancements. Compared to 2015, the waterworks utility had a $.5 million increase operating revenue
collections and an $8.5 increase operating expenses. The large operating expense increase was directly
related to a large non‐capital maintenance project, which was offset by an increase in operating grants.
The Solid Waste Utility generated $17.2 million in total revenue and incurred $16.9 million in program
expenses, resulting in a positive increase in net position of $0.5 million.
The Airport generated a total of $2.7 million in revenue from charges for services and $3 million in expenses
2016, which resulted in a $.2 million decrease in net position.
The Golf Course generated a total of $2.2 million in green fees, driving range charges, and other user fees.
The total expenses for the Golf Course were $2.2 million. The Golf Course had an operating gain of $23,000
for the year. The golf course’s operating position improved for the second year in a row, mainly due to close
budget management and monitoring.
Chart 4 illustrates the source of revenue for
Business‐type activities; which are supported
primarily from charges for services. Charges for
services generated $76 million, or 86 percent, of
the total revenue sources, while grant revenue
and contributions generated $21 million, or 14
percent, of the total revenue sources. This was
less than a $500,000 (<1 percent) increase in
charges for services and a $3 million (12 percent)
decrease in grants and contributions from 2015.
The large decrease in grants and contributions is
related to a decrease in grant revenue received
on grant funded projects.
FUND FINANCIAL ANALYSIS
Governmental Funds
The governmental fund statements provide information on near‐term inflows, outflows, and balances of
spendable resources. Such information is useful in assessing the City’s ability to meet financing requirements
in the near term. In particular, unassigned fund balance may serve as a useful measure of a government’s net
resources available for spending at the end of the fiscal year.
General Fund – At the end of the fiscal year, the City had a fund balance of $30 million, which is an increase of
$8.2 million from 2015. The increase is due to general economic improvements and the implementation of a
new Business and Occupation tax, which have provided increases over 2015 in taxes (up 12.3 percent).
Overall, general fund revenues increased $6 million (5 percent) over 2015.
Capital Improvement Fund – this fund accounts for all of the street, roadway, and transportation related
capital projects and programs. Overall revenue increased $5 million (92 percent) over 2015 and this was
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐10
attributed to several large transportation projects that took place during 2016, which included: Logan Avenue,
South 7th Street, NE 31st Street Bridge Replacement, Main Avenue South Conversion, and Sunset Lane.
Proprietary Funds
The proprietary fund financial statements provide the same type of information found in the government‐
wide financial statements, but in more detail. The analysis for the proprietary funds is found within the
business‐type activities analysis and discussion above. The proprietary fund statements also include a column
for internal services fund activities in aggregate. These activities are consolidated with general governmental
activities in the government‐wide statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
The City uses a biennial budget process that adopts two one‐year budgets at one time. 2016 was the second
year of the 2015‐16 biennium. The original 2016 general fund adopted budget was $111 million and the final
adjusted budget was $124 million. The increase was a combination of several items, but most notably: $3.4
million for the Sunset Lane Redevelopment project, $1.4 million transferred to the Regional Fire Authority to
cover their portion of indirect service costs and payroll benefits that will no longer be provided by the City, $1
million increase to replace City Hall elevators, $1 million for a Puget Sound Energy back billing correction,
$800 thousand for restricted drug seizure assets, $600 thousand in CDBG façade improvement loans to be
issued, and $500 thousand to add 4 Police Officer FTE’s.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City of Renton’s investment in capital assets, including construction in progress and net of accumulated
depreciation, for governmental and business‐type activities amounts to $787 million as of December 31, 2016,
compared to $807 million in 2015.
CAPITAL ASSETS
(Net of Depreciation/Amortization)
2016 2015 2016 2015 2016 2015
Land and Land Improvements 204,962,458$ 204,852,855$ 6,150,056$ 6,150,056$ 211,112,514$ 211,002,911$
Buildings and Structures 43,762,410 55,540,589 9,655,669 9,823,177 53,418,079 65,363,766
Infrastructure 203,845,930 176,899,621 274,857,596 270,753,625 478,703,526 447,653,246
Machinery and Equipment 8,594,701 11,941,203 963,103 924,521 9,557,804 12,865,724
Intangible Assets 416,195 549,734 1,089,090 1,134,803 1,505,285 1,684,537
Construction in Progress 17,378,791 55,605,328 14,977,593 12,119,740 32,356,384 67,725,068
Total 478,960,485$ 505,389,330$ 307,693,107$ 300,905,922$ 786,653,592$ 806,295,252$
Governmental Activities Business‐Type Activities Total
The decrease of $20 million is attributed to the two large capital asset transfers that took place in 2016: $13.3
million transferred to the Regional Fire Authority and $18.5 million transferred to the King County Library
System (KCLS). The $31.8 million in total capital assets transferred out was offset by new developer
contributed capital, the start of some new capital projects, and park land acquisitions. There was also a
decrease in Construction in Progress (CIP) capital, which decreased of $36 million. New construction in
progress costs were largely offset by three major projects that were completed in 2016 and are no longer
reported as construction in progress. These projects included a major transportation project ($25 million) and
the two libraries which were transferred to KCLS ($18.5 million).
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐11
As of December 31, 2016, depreciable capital assets for governmental activities were 36 percent depreciated,
the same rate as 2015. This comparison indicates the City is replacing its assets at approximately the same
rate they are depreciating, which is a positive indicator. More detailed capital asset information is provided in
Note 5 of the Notes to Financial Statements.
Debt Administration
The City’s total outstanding debt at December 31, 2016, was $137 million, a $4 million (2.8 percent) decrease
from the prior year which is attributed to the City’s continued commitment to paying down debt. The large
increase in employee benefits in governmental activities (8 percent) was related to the operations transfer to
the regional fire authority. The majority of the regional fire authority employees belong to the State’s LEOFF
pension, which reports a pension asset. With the removal of the pension asset related to transferring
operations, the net pension liability increased. More detailed debt information is provided in Note 11 of the
Notes to Financial Statements.
2016 2015 2016 2015 2016 2015
General Obligation Bonds 31,730,000$ 35,945,000$ ‐$ ‐$ 31,730,000$ 35,945,000$
Revenue Bonds ‐ ‐ 26,090,000 27,245,000 26,090,000 27,245,000
Other Long‐Term Debt 32,220,614 33,340,737 2,639,258 3,248,163 34,859,872 36,588,900
Unamortized Premium (Discount) 1,137,371 1,454,331 (542,489) (69,217) 594,882 1,385,114
Employee Benefits 36,370,849 33,688,181 7,538,520 6,353,408 43,909,369 40,041,589
Total 101,458,834$ 104,428,249$ 35,725,289$ 36,777,354$ 137,184,123$ 141,205,603$
Governmental Activities Business‐Type Activities
LONG‐TERM DEBT
Total
The City’s AA+ general obligation debt rating was reaffirmed by both Fitch and Standard in early 2015 and
maintains its AA+ revenue bond rating from Fitch (July 2014).
REQUESTS FOR FINANCIAL INFORMATION
This financial report is designed to provide our citizens, creditors, investors, and others interested in the City’s
finances with a general overview of the City’s finances and to show the City’s accountability for financial
resources it receives. If you have any questions about this report or need additional information, please
contact Iwen Wang, Administrative Services Administrator, 1055 South Grady Way, Renton, WA 98057 or visit
our web site at www.rentonwa.gov.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Management’s Discussion and Analysis, 3‐12
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2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL BUSINESS‐TYPE
ACTIVITIES ACTIVITIES TOTAL
ASSETS
Cash and cash equivalents $ 67,903,478 $ 44,348,430 $ 112,251,908
Cash with fiscal agent 107,848 ‐ 107,848
Investments at fair value 27,727,224 19,316,112 47,043,336
Receivables (net of allowance
for uncollectibles) 20,524,243 10,198,873 30,723,116
Internal balances 22,081 (22,081) ‐
Inventories 187,361 387,437 574,798
Prepayments 159,017 ‐ 159,017
Other non‐current assets:
Notes and assessments receivable 269,467 83,995 353,462
Net pension asset 10,236,848 ‐ 10,236,848
Investment in joint ventures (net) 34,894,247 ‐ 34,894,247
Restricted assets:
Cash and cash equivalents ‐ 2,909,578 2,909,578
Capital assets not being depreciated:
Land 204,962,458 6,150,056 211,112,514
Construction in progress 17,378,791 14,977,593 32,356,384
Capital assets, net of
accumulated depreciation:
Buildings 43,762,410 9,655,669 53,418,079
Infrastructure 203,845,930 274,857,596 478,703,526
Machinery and equipment 8,594,701 963,103 9,557,804
Intangibles 416,195 1,089,090 1,505,285
Total assets 640,992,299 384,915,451 1,025,907,750
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 6,297,615 1,194,883 7,492,498
Deferred amount on refunding 946,382 1,209,556 2,155,938
Total deferred outflows of resources 7,243,997 2,404,439 9,648,436
LIABILITIES
Accounts payable and other current liabilities 10,432,349 4,058,631 14,490,980
Interest payable 193,925 69,391 263,316
Unearned revenue 1,299,482 473,901 1,773,383
Non‐current liabilities:
Due within one year 7,271,669 2,496,450 9,768,119
Due in more than one year 95,133,547 34,438,395 129,571,942
Total liabilities 114,330,972 41,536,768 155,867,740
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 512,546 130,285 642,831
Total deferred inflows of resources 512,546 130,285 642,831
NET POSITION
Net investment in capital assets 453,278,700 279,506,339 732,785,039
Restricted
Grants and contributions 206,797 ‐ 206,797
Special purpose taxes & assessments 8,496,323 ‐ 8,496,323
Debt service ‐ 2,909,578 2,909,578
Pensions 10,236,848 ‐ 10,236,848
Unrestricted 61,174,110 63,236,920 124,411,030
Total net position $ 533,392,778 $ 345,652,837 $ 879,045,615
PRIMARY GOVERNMENT
STATEMENT OF NET POSITION
DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐1
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$ 879,045,61 5 City of Renton, Washington
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐2
NE
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)
RE
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IN NET POSITION 2016 Comprehensive Annual Financial Report
PR
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PR
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,
20
1
6
2016 Comprehensive Annual Financial Report City of Renton, Washington
OTHER TOTAL
CAPITAL GOVERNMENTAL GOVERNMENTAL
GENERAL IMPROVEMENT FUNDS FUNDS
ASSETS
Cash & cash equivalents $ 18,405,423 $ 4,438,694 $ 17,698,620 $ 40,542,737
Cash with fiscal agent 107,848 ‐ ‐ 107,848
Investments at fair value 7,495,524 1,814,260 7,234,086 16,543,870
Receivables (net of allowances):
Taxes 3,486,678 ‐ ‐ 3,486,678
Customer accounts 5,792,566 288,427 39,510 6,120,503
Accrued interest & penalties 70,099 14,077 94,227 178,403
Notes and assessments receivable 200,000 ‐ 71,743 271,743
Due from other funds 119,363 12,594 1,027,792 1,159,749
Due from other governments 5,888,757 2,660,712 2,013,802 10,563,271
TOTAL ASSETS 41,566,258 9,228,764 28,179,780 78,974,802
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 41,566,258 $ 9,228,764 $ 28,179,780 $ 78,974,802
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities
Accounts payable $ 1,648,969 $ 642,388 $ 1,052,970 $ 3,344,327
Taxes payable 47,947 ‐ ‐ 47,947
Retainage payable ‐ 36,038 45,774 81,812
Due to other funds 1,027,792 ‐ 20,000 1,047,792
Due to other governmental units 753 ‐ ‐ 753
Interfund loans payable 700,000 ‐ ‐ 700,000
Custodial accounts 370,169 ‐ 607,452 977,621
Unearned revenues 239,655 ‐ 1,059,806 1,299,461
Accrued wages and benefits payable 2,220,807 ‐ ‐ 2,220,807
Total liabilities 6,256,092 678,426 2,786,002 9,720,520
DEFERRED INFLOWS OF RESOURCES
Deferred amount of special assessments ‐ ‐ 7,169 7,169
Unavailable revenues 5,318,819 53,958 5,000 5,377,777
TOTAL DEFERRED INFLOWS OF RESOURCES 5,318,819 53,958 12,169 5,384,946
FUND BALANCES
Nonspendable 200,000 ‐ 64,783 264,783
Restricted 974,770 317,952 7,210,396 8,503,118
Committed ‐ 7,494,125 12,639,895 20,134,020
Assigned 236,772 684,303 5,466,535 6,387,610
Unassigned 28,579,805 ‐ ‐ 28,579,805
TOTAL FUND BALANCES 29,991,347 8,496,380 25,381,609 63,869,336
TOTAL LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES $ 41,566,258 $ 9,228,764 $ 28,179,780 $ 78,974,802
GOVERNMENTAL FUNDS
BALANCE SHEET
DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐3
2016 Comprehensive Annual Financial Report City of Renton, Washington
FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ 63,869,336
Amounts reported for governmental activities in the statement of net position are different because:
Other non‐current assets and deferred outflows of resources used in governmental activities are not
financial resources and, therefore, are not reported in the governmental funds.
Investment in Joint Venture‐SCORE 30,362,703
Investment in Joint Venture‐Valley Communications 4,531,544
Net pension assets 10,236,848
Deferred outflows related to pensions 5,524,894
Deferred outflows related to refundings 946,382 51,602,371
Capital assets used in governmental activities are not financial resources and, therefore, are not reported
in the governmental funds.
Land 204,962,458
Construction in progress 17,140,257
Buildings (net of accumulated depreciation) 35,067,740
Infrastructure (net of accumulated depreciation) 203,845,930
Machinery and equipment (net of accumulated depreciation)8,594,701
Intangible assets (net of accumulated amortization) 24,324 469,635,410
Other long‐term assets are not available to pay for current period expenditures and, therefore, are
reported as unavailable revenue in the funds.
Property tax revenue 513,350
Municipal court revenue 921,104
Photo enforcement revenue 3,862,581
Other 87,911 5,384,946
Certain liabilities are not due and payable in the current period and, therefore, are not reported in the
governmental funds.
Interest payable (193,925)
Bonds payable and deferred amounts on refunding (65,929,464)
Compensated absences (2,982,540)
Other post employment benefits (8,238,640)
Net pension liabilities (20,273,867)
Deferred inflows related to pensions (428,293) (98,046,729)
Accrued pension expense reported in the governmental funds is not included in the calculation of the net
pension liability.168,710
Internal service funds are used by management to charge the costs of certain activities, such as equipment
rental, self‐insurance, information technology and facility services to individual funds. The assets and
liabilities of the internal service funds are included in the governmental activities in the statement of net
position.40,778,734
NET POSITION OF GOVERNMENTAL ACTIVITIES $ 533,392,778
RECONCILIATION OF THE BALANCE SHEET
TO THE STATEMENT OF NET POSITION
DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐4
2016 Comprehensive Annual Financial Report City of Renton, Washington
OTHER TOTAL
CAPITAL GOVERNMENTAL GOVERNMENTAL
GENERAL IMPROVEMENT FUNDS FUNDS
REVENUES
Taxes $ 91,462,840 $ 820,000 $ 10,458,679 $ 102,741,519
Licenses and permits 5,608,086 1,522,060 374,064 7,504,210
Intergovernmental revenues 4,456,476 7,839,027 2,055,386 14,350,889
Charges for services 8,171,113 ‐ 1,154,971 9,326,084
Fines and forfeits 2,858,295 24,690 ‐ 2,882,985
Contributions 117,382 273,806 109,510 500,698
Investment earnings 1,061,479 23,142 129,895 1,214,516
Miscellaneous revenues 3,035,798 ‐ 261 3,036,059
TOTAL REVENUES 116,771,469 10,502,725 14,282,766 141,556,960
EXPENDITURES
Current:
General government 11,568,439 ‐ 392,821 11,961,260
Judicial 2,536,835 ‐ ‐ 2,536,835
Public safety 47,619,491 ‐ ‐ 47,619,491
Utilities 238,057 ‐ ‐ 238,057
Transportation 10,054,845 3,576,479 ‐ 13,631,324
Economic environment 6,794,821 ‐ 335,829 7,130,650
Health and human services 2,068,295 ‐ ‐ 2,068,295
Culture and recreation 11,303,803 ‐ 482,369 11,786,172
Capital outlay:
General government 330,504 ‐ 482,743 813,247
Public safety 57,366 ‐ 503 57,869
Transportation 6,172 8,524,329 31,776 8,562,277
Culture and recreation 21,053 ‐ 3,183,203 3,204,256
Debt service:
Principal payments ‐ ‐ 4,530,216 4,530,216
Interest and fiscal charges ‐ 1,372 1,568,950 1,570,322
TOTAL EXPENDITURES 92,599,681 12,102,180 11,008,410 115,710,271
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 24,171,788 (1,599,455) 3,274,356 25,846,689
OTHER FINANCING SOURCES (USES)
Transfer in 1,975,955 4,531,435 2,299,693 8,807,083
Transfer (out) (6,221,410) (16,769) (796,739) (7,034,918)
Insurance recoveries 29,061 ‐ ‐ 29,061
TOTAL OTHER FINANCE SOURCES (USES) (4,216,394) 4,514,666 1,502,954 1,801,226
SPECIAL ITEMS
Transfer of fire operations (11,748,581) ‐ (551,786) (12,300,367)
TOTAL SPECIAL ITEMS (11,748,581) ‐ (551,786) (12,300,367)
NET CHANGE IN FUND BALANCE 8,206,813 2,915,211 4,225,524 15,347,548
FUND BALANCE JANUARY 1 21,784,534 5,532,431 21,444,236 48,761,201
Prior Period Adjustment ‐ 48,738 (288,151) (239,413)
FUND BALANCES JANUARY 1 RESTATED 21,784,534 5,581,169 21,156,085 48,521,788
FUND BALANCE DECEMBER 31 $ 29,991,347 $ 8,496,380 $ 25,381,609 $ 63,869,336
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
Page 1 of 1
FOR THE YEAR ENDED DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐5
2016 Comprehensive Annual Financial Report City of Renton, Washington
NET CHANGES IN FUND BALANCES ‐ TOTAL GOVERNMENTAL FUNDS $ 15,347,548
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost
of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the
amount by which depreciation and amortization expenses and the loss on transfer of capital assets to other
governments exceeded capital outlays.
Capital expenditures 12,637,649
Depreciation and amortization expense (10,084,403)
Transfer of capital assets to other governmental agencies (29,202,437) (26,649,191)
Governmental funds report pension expenditures when due and payable from current financial resources.
However, in the statement of activities, pension expenseis measured by the change in the net pension assets,
net pension liabilities, and related deferred outflows and inflows. This is the net difference in pension
expense.1,264,498
Donations of property and infrastructure from developers are not reported in the governmental funds.
However, in the statement of activities, the fair market value of those assets is recognized as revenue. 3,272,519
Revenues in the statement of activities that do not provide current financial resources are not reported as
revenue in the funds. Unavailable revenue increased by this amount. 64,928
The issuance of long‐term debt (e.g., bonds, leases) provides current financial resources to governmental
funds, while the repayment of the principle of long‐term debt consumes the current financial resources of
governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds
report the effect of premiums, discounts, and refundings when debt is first issued, whereas these amounts
are deferred and amortized in the statement of activities. This amount is the net effect of these differences in
the treatment of long‐term debt and related items.557,446
Increase (decrease) in Investment in Joint Ventures which do not provide current financial resources and,
therefore, are not reported in the funds.
Equity interest‐SCORE (281,167)
Equity interest‐Valley Communications 586,665 305,498
Internal service funds are used by management to charge the costs of certain activities to individual funds.
The net revenue (expense) of the internal service funds are reported with governmental activities. (3,346,424)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ (9,183,178)
FOR THE YEAR ENDED DECEMBER 31, 2016
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
GOVERNMENTAL ACTIVITIES
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐6
2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 39,477,580 $ 2,724,385 $ 2,146,465 $ 44,348,430 $ 27,360,741
Investments at fair value 17,325,213 1,113,558 877,341 19,316,112 11,183,354
Receivables (net of allowances):
Customer accounts 6,266,633 1,738,523 38,018 8,043,174 30,570
Special assessments 96,589 ‐ ‐ 96,589 ‐
Interest ‐ investments 176,055 12,260 7,799 196,114 142,542
Interfund loan receivable ‐ ‐ ‐ ‐ 175,000
Due from other governments 1,715,729 138,425 8,842 1,862,996 ‐
Inventory of materials and supplies 328,331 ‐ 59,106 387,437 187,361
Prepayments ‐ ‐ ‐ ‐ 159,017
Total current assets 65,386,130 5,727,151 3,137,571 74,250,852 39,238,585
Noncurrent assets:
Restricted cash & cash equivalents 2,909,578 ‐ ‐ 2,909,578 ‐
Special assessments‐non‐current 83,995 ‐ ‐ 83,995 ‐
Advances to other funds ‐ ‐ ‐ ‐ 525,000
Capital assets not being depreciated:
Land 2,682,776 ‐ 3,467,280 6,150,056 ‐
Construction in progress 14,871,427 ‐ 106,166 14,977,593 238,534
Capital assets, net of
accumulated depreciation:
Buildings, improvements and equipment 259,684,464 ‐ 25,791,904 285,476,368 8,694,670
Intangible assets 1,089,090 ‐ ‐ 1,089,090 391,871
Total noncurrent assets 281,321,330 ‐ 29,365,350 310,686,680 9,850,075
TOTAL ASSETS 346,707,460 5,727,151 32,502,921 384,937,532 49,088,660
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 931,296 58,241 205,346 1,194,883 772,721
Deferred amount on refunding 1,209,556 ‐ ‐ 1,209,556 ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES $ 2,140,852 $ 58,241 $ 205,346 $ 2,404,439 $ 772,721
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2016
Page 1 of 2
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐7
2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 1,408,303 $ 1,226,911 $ 239,675 $ 2,874,889 $ 1,087,270
Claims incurred but not reported ‐ ‐ ‐ ‐ 2,560,915
Retainage payable 339,599 ‐ 16,634 356,233 2,379
Due to other funds 22,081 ‐ ‐ 22,081 89,876
Due to other governments 395,175 ‐ ‐ 395,175 ‐
Accrued interest payable 69,391 ‐ ‐ 69,391 ‐
Accrued wages and benefits payable 581,589 31,464 153,742 766,795 483,028
Accrued taxes payable 90,385 71,852 5,310 167,547 8,019
Custodial accounts 19,170 ‐ 205,272 224,442 ‐
Unearned revenue 302,025 6,759 165,117 473,901 21
Revenue bonds payable 1,770,000 ‐ ‐ 1,770,000 ‐
Capital lease payable ‐ ‐ ‐ ‐ 33,812
Total current liabilities 4,997,718 1,336,986 785,750 7,120,454 4,265,320
Long‐term liabilities:
Revenue bonds payable 24,987,066 ‐ ‐ 24,987,066 ‐
Accrued wages and benefits payable 280,435 16,895 48,658 345,988 224,994
Public works trust fund loan payable 2,244,083 ‐ ‐ 2,244,083 ‐
Capital lease payable ‐ ‐ ‐ ‐ 71,091
Net pension liability 5,346,894 334,382 1,179,982 6,861,258 4,436,989
Total long‐term liabilities 32,858,478 351,277 1,228,640 34,438,395 4,733,074
TOTAL LIABILITIES 37,856,196 1,688,263 2,014,390 41,558,849 8,998,394
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 101,530 6,349 22,406 130,285 84,253
TOTAL DEFERRED INFLOWS OF RESOURCES 101,530 6,349 22,406 130,285 84,253
NET POSITION
Net investment in capital assets 250,140,989 ‐ 29,365,350 279,506,339 9,220,172
Restricted ‐Waterworks utility debt 2,909,578 ‐ ‐ 2,909,578 ‐
Unrestricted 57,840,019 4,090,780 1,306,121 63,236,920 31,558,562
TOTAL NET POSITION $ 310,890,586 $ 4,090,780 $ 30,671,471 $ 345,652,837 $ 40,778,734
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2016
Page 2 of 2
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐8
2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
OPERATING REVENUES:
Charges for services $ 53,295,286 $ 17,004,858 $ 1,938,383 $ 72,238,527 $ 33,481,990
Interdepartmental services 77,954 2,380 ‐ 80,334 ‐
Miscellaneous 312,351 145,041 2,976,120 3,433,512 205,753
TOTAL OPERATING REVENUES 53,685,591 17,152,279 4,914,503 75,752,373 33,687,743
OPERATING EXPENSES:
Supplies 1,091,442 10,087 379,843 1,481,372 1,890,190
Personnel services 9,499,358 712,218 2,491,173 12,702,749 6,864,508
Contracted services 28,556,649 14,082,988 891,483 43,531,120 6,832,486
Insurance ‐ ‐ ‐ ‐ 13,983,291
Taxes 4,504,161 2,044,761 13,035 6,561,957 53,604
Depreciation and amortization 8,740,055 ‐ 1,371,658 10,111,713 2,247,349
TOTAL OPERATING EXPENSES 52,391,665 16,850,054 5,147,192 74,388,911 31,871,428
OPERATING INCOME (LOSS) 1,293,926 302,225 (232,689) 1,363,462 1,816,315
NON‐OPERATING REVENUES(EXPENSES):
Intergovernmental revenues 8,207,823 138,425 53,760 8,400,008 42,430
Investment earnings 300,140 19,754 13,037 332,931 226,960
Gain (loss) on sale of capital assets (450,887) ‐ (980) (451,867) 13,710
Other non‐operating revenues (expenses) 13,107 ‐ 2,406 15,513 14,123
Interest expense (1,117,618) ‐ ‐ (1,117,618) (4,086)
Insurance recoveries 2,538 ‐ ‐ 2,538 281,063
NON‐OPERATING REVENUE NET OF EXPENSE 6,955,103 158,179 68,223 7,181,505 574,200
INCOME (LOSS) BEFORE CONTRIBUTIONS,
TRANSFERS, AND SPECIAL ITEMS 8,249,029 460,404 (164,466) 8,544,967 2,390,515
Capital contributions 12,520,016 ‐ 39,739 12,559,755 ‐
Transfers in 4,654 ‐ ‐ 4,654 354,903
Transfers out (95,071) ‐ (83,500) (178,571) (1,953,151)
Special items:
Transfer of fire operations ‐ ‐ ‐ ‐ (4,138,691)
CHANGE IN NET POSITION 20,678,628 460,404 (208,227) 20,930,805 (3,346,424)
NET POSITION, JANUARY 1 290,746,807 3,630,376 30,879,698 325,256,881 44,382,473
Prior period adjustment (534,849) ‐ ‐ (534,849) (257,315)
NET POSITION, JANUARY 1 RESTATED 290,211,958 3,630,376 30,879,698 324,722,032 44,125,158
NET POSITION, DECEMBER 31 $ 310,890,586 $ 4,090,780 $ 30,671,471 $ 345,652,837 $ 40,778,734
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐9
2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
OTHER TOTAL ACTIVITIES
WATERWORKS SOLID ENTERPRISE ENTERPRISE INTERNAL SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services $ 52,716,530 $ 17,188,163 $ 4,926,332 $ 74,831,025 $‐
Cash received from other funds for services 77,954 ‐ ‐ 77,954 33,676,812
Cash paid to suppliers for goods & services (34,131,174) (16,187,617) (1,234,863) (51,553,654) (23,615,151)
Cash paid to other funds for goods & services 22,081 ‐ ‐ 22,081 ‐
Cash paid to employees (9,516,444) (711,561) (2,507,857) (12,735,862) (6,951,131)
Other non‐operating receipts 15,645 ‐ 2,406 18,051 295,186
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 9,184,592 288,985 1,186,018 10,659,595 3,405,716
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 4,654 ‐ (83,500) (78,846) 354,903
Transfers to other funds (95,071) ‐ ‐ (95,071) (1,863,275)
Operating grants 8,207,823 114,591 54,123 8,376,537 42,430
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 8,117,406 114,591 (29,377) 8,202,620 (1,465,942)
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment ‐ ‐ ‐ ‐ 91,215
System development charges 1,770,729 ‐ 990 1,771,719 ‐
Acquisition & construction of capital assets (9,482,417) ‐ (381,134) (9,863,551) (3,413,328)
Special assessments 259,974 ‐ ‐ 259,974 ‐
Capital grants 3,576,977 ‐ 684,705 4,261,682 ‐
Proceeds from the sale of bonds 9,385,000 ‐ ‐ 9,385,000 ‐
Principal payments on debt (11,259,149) ‐ ‐ (11,259,149) (32,706)
Interest payments on debt (1,480,647) ‐ ‐ (1,480,647) (4,086)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (7,229,533) ‐ 304,561 (6,924,972) (3,358,905)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal proceeds from interfund loans ‐ ‐ ‐ ‐ 321,298
Proceeds from sale of investments 103,702 91,157 ‐ 194,859 2,721,433
Payments for investments ‐ ‐ (331,112) (331,112) ‐
Interest on investments and loans 239,076 19,701 14,362 273,139 229,948
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES 342,778 110,858 (316,750) 136,886 3,272,679
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 10,415,243 514,434 1,144,452 12,074,129 1,853,548
CASH & CASH EQUIVALENTS, JANUARY 1 29,062,337 2,209,951 1,002,013 32,274,301 25,507,193
RESTRICTED CASH & CASH EQUIVALENTS, JANUARY 1 2,909,578 ‐ ‐ 2,909,578 ‐
TOTAL CASH, RESTRICTED CASH, & CASH
EQUIVALENTS, DECEMBER 31 $ 42,387,158 $ 2,724,385 $ 2,146,465 $ 47,258,008 $ 27,360,741
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Page 1 of 2
FOR THE YEAR ENDED DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐10
2016 Comprehensive Annual Financial Report City of Renton, Washington
GOVERNMENTAL
ACTIVITIES
OTHER TOTAL INTERNAL
WATERWORKS SOLID ENTERPRISE ENTERPRISE SERVICE
UTILITY WASTE FUNDS FUNDS FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ 1,293,926 $ 302,225 $ (232,689) $ 1,363,462 $ 1,816,315
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 8,740,055 ‐ 1,371,658 10,111,713 2,247,349
Other non‐operating revenue 15,645 ‐ 2,406 18,051 295,186
(Increase) decrease in
accounts receivable (851,732) 35,749 41,507 (774,476) (17,178)
(Increase) decrease in inventory
& prepaid items (1,892) ‐ 591 (1,301) (112,746)
(Increase) decrease in deferred outflows
related to pensions (393,212) (24,931) (86,125) (504,268) (328,973)
Increase (decrease) in operating
accounts payable 21,737 (49,929) 125,697 97,505 560,125
Increase (decrease) in due to
other funds 22,081 ‐ ‐ 22,081 ‐
Increase (decrease) in accrued taxes
& other short‐term liabilities 1,233 148 (76,790) (75,409) (1,295,010)
Increase (decrease) in
customer deposits (1,700) ‐ (14,947) (16,647) ‐
Increase (decrease) in
unearned revenues (37,675) 135 (14,731) (52,271) (1,702)
Increase (decrease) in accrued
employee wages and benefits 19,207 5,582 8,092 32,881 20,051
Increase (decrease) in net pension liability
and deferred inflows related to pensions 356,919 20,006 61,349 438,274 222,299
Total adjustments 7,890,666 (13,240) 1,418,707 9,296,133 1,589,401
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 9,184,592 $ 288,985 $ 1,186,018 $ 10,659,595 $ 3,405,716
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Loss on disposal of capital assets $ 193,726 $‐ $ 980 $ 194,706 $‐
Contributions of capital assets $ 17,471,388 $‐ $‐ $ 17,471,388 $‐
Depreciation & amortization $ 8,740,055 $‐ $ 1,371,658 $ 10,111,713 $ 2,247,349
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Page 2 of 2
FOR THE YEAR ENDED DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐11
2016 Comprehensive Annual Financial Report City of Renton, Washington
PENSION TRUST AGENCY
FIREFIGHTERS' SPECIAL
PENSION DEPOSITS
ASSETS
Cash and cash equivalents $ 2,240,566 $ 758,839
Investments at fair value:
Federal National Mortgage Association 465,517 ‐
Federal Home Loan Bank 128,672
FNMA Zero Coupon 636,411
US Treasury Strips 2,383,686 ‐
Certificates of deposit 575,234 ‐
Receivables (net of allowances)
Interest on investments 3,176,990 ‐
TOTAL ASSETS 9,607,076 758,839
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
LIABILITIES
Vouchers & contracts payable 426 52,631
Deposits ‐ 706,208
TOTAL LIABILITIES 426 758,839
DEFERRED INFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐
NET POSITION
Net position restricted for pensions
and other purposes $ 9,606,650 $‐
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐12
2016 Comprehensive Annual Financial Report City of Renton, Washington
PENSION TRUST
FIREFIGHTERS'
PENSION
ADDITIONS:
Employer contributions:
Fire insurance premiums transferred in $ 148,034
Investment earnings:
Investment interest 334,923
Net increase / (decrease) in the fair value of investments (198,852)
Total Investment earnings 136,071
TOTAL ADDITIONS 284,105
DEDUCTIONS:
Benefits 208,231
Administrative expenses 426
TOTAL DEDUCTIONS 208,657
Change in net position 75,448
NET POSITION ‐ JANUARY 1 9,531,202
NET POSITION ‐ DECEMBER 31 $ 9,606,650
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIREFIGHTERS' PENSION FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
The notes to the financial statements are an integral part of this statement. Basic Financial Statements, 4‐13
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐14
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Renton’s financial statements have been prepared in conformity with generally accepted
accounting principles (GAAP) in the United States, as applied to governments. The Governmental Accounting
Standards Board (GASB) is the standard setting body for governmental accounting and financial reporting.
For the reporting year ended December 31, 2016, the City has implemented GASB 72, Fair Value
Measurement and Application, GASB 73, Accounting and Financial Reporting for Pensions and Related Assets
That are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements
67 and 68, GASB 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments,
GASB 77, Tax Abatement Disclosures, GASB 78 Benefit Pension Plans, GASB 79 Certain External Investment Pools
and Pool Participants, and GASB 82 Pension Issues – an amendment of GASB Statements No. 67, 68, and 73. The
City does not have any participating pension plans subject to GASB 73 or GASB 78, but will follow the guidance
of these statements should they become applicable.
A. REPORTING ENTITY
The City of Renton was incorporated on September 6, 1901, and operates under the laws of the State of
Washington applicable to a Non‐Charter code city with a Mayor/Council form of government. A full‐time
Mayor and seven part‐time Council members serve the City, all elected at large to four‐year terms. The City
provides the full range of municipal services authorized by state statutes, together with a Municipal Airport, a
Waterworks Utility, a Solid Waste Utility, and a Municipal Golf Course.
The City of Renton has no component units (either blended or discretely presented) included in these
statements. The City of Renton’s Mayor appoints the Governing Board for the Renton Housing Authority,
which is not considered a component unit of the City. The City is under no obligation to subsidize, nor does it
exercise any other prerequisite for inclusion.
B. BASIS OF PRESENTATION
The City’s basic financial statements include both government‐wide statements and fund financial statements.
The government‐wide statements report financial information for the City as a whole, while the fund
statements present detailed financial information at the fund level. The City’s fiduciary funds are presented in
the fund financial statements. Since the assets are being held for the benefit of a third party and cannot be
used for obligations of the City, they are not included in the Government‐wide statements.
Government‐wide financial statements
In the government‐wide statement of net position governmental and business‐type activities are reported.
Governmental activities are mostly supported by taxes, intergovernmental revenue, and other non‐exchange
transactions. The governmental activities column includes the combined data from all governmental funds
and internal service funds. Business‐type activities mostly rely on fees and charges for services to external
customers and include data from the City’s enterprise funds.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐15
The government‐wide statement of activities presents a comparison between direct expenses and program
revenues for each of the City’s governmental activities (general government, judicial, public safety, utilities,
transportation, economic environment, health and human services, and culture and recreation) and for each
identifiable business‐type activity (waterworks utility, airport, solid waste utility, and golf course). Direct
expenses are those that are specifically associated with a function and therefore clearly identifiable to that
particular function.
The statement of activities reports the expenses of a given function offset by a program revenue directly
associated with the functional program. Program revenues include: 1. charges for services which reports fees
and charges for users of the City’s service, 2. operating grants and contributions which support annual operating
activities, and 3. capital grants and contributions which finance the acquisition, construction, or rehabilitation
of capital assets. For determining the function, charges for services are tied to the function that generates the
revenue and grants and contributions are tied to the function in which functional use they are restricted
towards.
Taxes and other sources that are not directly related to a program are reported as general revenue. The
comparison of direct expenses with program revenues identifies the extent each governmental function and
business activity are self‐sustaining and requires a draw from the general revenues of the City.
Generally, the effect of interfund activity has been eliminated from the government‐wide financial
statements, with the exception of various charges for services among different functions within the
government. Elimination of these charges would distort the direct costs and program revenues reported for
the various functions involved.
Fund financial statements
The City’s activities are tracked in individual funds to segregate the transactions to aid in financial
management and, in some cases, demonstrate legal compliance. The fund financial statements are intended
to present the City’s financial activities as a more detailed level. Separate financial statements are provided
for each fund category ‐ governmental, proprietary, and fiduciary funds. Each of the City’s major funds, within
each fund category, are presented in a separate column. All non‐major funds, within each fund category, are
aggregated into one column; internal service funds are aggregated into one column and reported on the face
of the proprietary fund statements; and fiduciary funds are reported by type.
The City reports the following major governmental funds:
General Fund is the primary operating fund of the City. It is used to account for the resources and
disbursements of ordinary City operations that are not required to be accounted for in another fund. These
include the costs of legislative and executive departments, court services, finance and legal departments,
development services, police and fire departments, human resources and technical services, community
services, parks, economic development, streets, property management for City owned leased facilities, library
and museum, fire memorial, and fire department’s health and wellness programs. The major sources of
revenue are property taxes, utility taxes, and sales taxes. Licenses and permits, charges for services, and fines
and forfeits provide additional support. Community development block grant activities are accounted for
within this fund, which is federally funded.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐16
Capital Improvement Fund accounts for transportation projects, many of which are dependent on the
acquisition of various state and federal grant programs and mitigation fees.
The City reports the following major enterprise funds:
Waterworks Utility Fund accounts for all operating and capital improvement programs for water, wastewater,
and storm water services within the City. The operating activities are primarily supported by user fees include:
administration, billings and collections, debt service, engineering and operation, maintenance and repairs. The
primary resources for capital improvement programs are revenue bond proceeds, grants (as available), and
utility connection charges.
Solid Waste Fund accounts for solid waste, recycling, and yard waste collection services for the City are
accounted for in this fund, supported entirely by service fees. The expenses include payment to the City’s
garbage contractor and other service charges.
Additionally, the government reports the following fund types:
Internal Service Funds include 1.the equipment rental fund (equipment replacement, information technology,
facilities, and communications) and 2.the insurance fund (including risk management, workers compensation,
unemployment compensation, and employee health care program). The equipment rental fund factors all
costs, including depreciation, into the rates charged to each user department. The insurance fund pays
expense and rates are charged to departments based on use and/or coverage requirements.
Firefighters’ Pension Fund accounts for the payment of administrative costs and benefits for retired
firefighters and their beneficiaries, who were employed prior to March 1, 1970. Primary revenues sources
are general property tax allocations in accordance with actuarial calculations, the fire premium tax, and
investment income.
Special Deposit Fund was established for the purpose of holding or retaining cash deposits or other securities
pending fulfillment of certain conditions and/or requirements by the depositor. Refunds are made when all
obligations have been met and only upon authorization from the transmitting department.
Special Revenue Funds are used to account for specific revenues that are restricted for expenditures for
particular purposes.
Debt Service Funds account for the accumulation of resources for and the payment of general obligation and
special assessment bonds.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐17
During the course of operations the City has activity between funds for various purposes. Any residual
balances outstanding at year‐end are reported as due to/from other funds and advances to/from other funds.
While these balances are reported in the fund financial statements, certain eliminations are made in the
preparation of the government‐wide financial statements. Balances between funds included in the
governmental activities (generally between governmental and internal service funds) are eliminated so that
only the net amount is included as internal balances in the governmental activities column. Similarly, balances
between the funds included in the business‐type activities are eliminated so that only the net amount is
included as internal balances in the business type activities column.
Further, certain activity occurs during the year involving transfers of resources between funds. In fund
financial statements these amounts are reported as gross amounts as transfers in/out. While reported in fund
financial statements, certain eliminations are made in the preparation of government‐wide financial
statements. Transfers between the funds included in governmental activities are eliminated so that only the
net amount is included as transfers in the governmental activities column. Similarly, balances between the
funds included in business‐type activities are eliminated so that only the net amount is included in transfers in
the business‐type activities column.
C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
Basis of Accounting refers to the point at which revenues or expenditures/expenses transactions or events are
recognized in the accounts and reported in the financial statements. Measurement focus is measured one of
two ways: either the current financial resource or the economic resource method.
Government‐wide financial statements – the government‐wide financial statements are prepared using the
economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when
earned and expenses are recorded when the liability is incurred, regardless of the timing of related cash flows.
Property taxes are recognized as revenue in the year they are levied and grants are recognized as revenue as
soon as all eligibility requirements have been met.
Governmental fund financial statements – the governmental fund financial statements use a different
measurement focus from the proprietary fund statements and government‐wide statements. The
governmental fund financial statements use the current financial resources measurement and the modified
accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.
Revenues are considered to be available when they are collectible within the current reporting period or soon
enough thereafter to pay liabilities of the current period. The City considers revenue available if they are
collected within 60 days of the end of the current fiscal period. Expenditures are generally recorded when a
liability is incurred, the same as accrual accounting. However, debt service expenditures, as well as
expenditures related to compensated absences, and claims and judgements are recorded only when payment
is due. General capital asset acquisitions are reported as current expenditures in governmental funds. Issuance
of long‐term debt and capital lease acquisitions are reported as other financing sources.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐18
Property taxes, sales tax, franchise taxes, licenses, and interest associated with the current period are all
considered susceptible to accrual and have been recognized as revenue in the current fiscal period.
Expenditure‐driven grants are recognized as revenue when the qualifying expenditure amount is received
during the period or within the availability period for this revenue source. All other revenue is considered
measurable and available only when the cash is received by the City.
Since the measurement focus between the governmental fund financial statements and the governmental
activities in the government‐wide statements vary, a detailed reconciliation is included in the fund statements
to identify the relationship between the two statement types.
Proprietary fund financial statements – the proprietary fund statements and pension fund statements are
reported using the economic resources measurement focus and accrual basis of accounting, the same as the
government‐wide statements.
D. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND NET POSITION/FUND
BALANCE
1. Cash and Cash Equivalents
The City has defined cash and cash equivalents as cash on hand, demand deposits, and all highly liquid
investments (including restricted assets) with maturity of three months or less when purchased. These
amounts are classified on the balance sheet or in the statement of net position as cash and cash
equivalents or investments in the various funds. Included in this category are all funds invested in the Local
Government Investment Pool. Excluded from this category are cash balances held by Fiscal Agents since
the City does not have discretionary use of these funds.
Most of the City’s cash balances are pooled and invested. Interest earned from investments purchased
with pooled cash is allocated monthly to each fund based on the fund’s beginning equity balance in the
pooled fund.
2. Investments (also see Note 3B.)
Investments for the City are reported at fair value and amortized cost on the government‐wide statements.
3. Receivables
Receivables have been reported net of estimated uncollectible accounts. Because property taxes, special
assessments, and utility billings are considered liens on property, no estimated uncollectible amounts are
established.
Taxes receivable consists of property taxes and related interest and penalties. Property taxes are an
enforceable lien on real property and are due the first day of the levy year and may be paid in two equal
installments. The first half is due April 1 and the balance is due October 31. The City collects
approximately 99% of the property tax due in the year it is levied and delinquent taxes are collected within
the following few years. Property tax due, but not collected within 60 days of year end, is recorded as a
receivable and offset by deferred inflow of resources – unavailable revenue. There is no allowance for
uncollectable sales tax because historically all taxes are collected and/or enforceable via lien (refer to Note
4 for more information).
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐19
Accrued interest receivable consists of amounts earned on investments, notes, and contracts.
Customer accounts receivable consists of amounts owed from private individuals or organizations for
goods and services. If the transactions are receivable from another governmental unit, it is accounted for
within “due from other governments.”
Special assessments are recorded when levied and are liens against the property benefited. Special
assessments receivable consist of current and delinquent assessments and related interest and penalties.
Special assessments not due within one year are reported as deferred inflows of resources in the
governmental fund statements and reported as non‐current assets in the government‐wide statements and
the proprietary fund statements.
4. Internal Balances, Interfund Loan Receivables/Payable and Due From/To Other Funds
Activities between funds that are representative of lending/borrowing arrangements outstanding at the
end of the fiscal year are referred to as interfund loans receivable/payable. All other outstanding balances
between funds are reported as due to/from other funds. These amounts are eliminated within the
governmental activities and business‐type activities in the government‐wide statement, except for the
residual balances outstanding between the governmental activities and business‐type activities, which are
reported as internal balances. Refer to Note 10 for a detailed summary of interfund activity.
5. Inventories and prepaid items
All City inventories are maintained on a consumption basis of accounting where items are purchased for
inventory and charged to the budgetary accounts as the items are consumed. Any material inventories at
year‐end are included in the balance sheet of the appropriate fund. All inventories are carried at cost on
the first in, first out – FIFO basis, with the exception of the Public Works Maintenance shops inventory.
The value of this inventory is calculated using the average cost method. The cost of inventories are recorded
as an expenditure/expense when consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are reported as
prepaid items in both the Government‐wide and fund statements.
6. Capital Assets
General capital assets are those assets not specifically related to activities reported by the proprietary
funds. These assets generally result from expenditures in governmental funds or contributions. The City
reports these assets in the governmental activities column of the government‐wide statement of net
position but does not report these assets in the governmental fund financial statements. Capital assets
utilized by the propriety funds are reported both in the business‐type activities of the government‐wide
statement of net position and in the proprietary fund statement of net position.
All capital assets are valued and capitalized at cost (or estimated historical cost when actual historical cost
is unknown) and updated for additions and retirements during the year. Donated capital assets are
recorded at their acquisition value as of the date received. The City maintains a capitalization threshold of
$5,000 and an estimated useful life in excess of two years. Improvements to City assets and infrastructure
are capitalized, but the cost of normal maintenance and repairs that do not extend the useful life, or
increase capacity or efficiency, are expensed.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐20
Interest incurred during the construction phase of capital assets of proprietary funds is included as part of
the capitalized value of the assets constructed. The amount of interest capitalized is calculated by applying
the weighted average borrowing rate to the average cumulative expenditures since inception. For the year
ended December 31, 2016, total proprietary fund interest incurred of $1,493,012 was reduced by
capitalized interest in the amount of $375,394.
All capital assets, other than land, right‐of‐ways, water rights, and construction in progress, are depreciated
using the straight line method over the following estimated useful lives:
Amortization on all intangible assets is provided on the straight‐line basis over the following useful lives:
7. Other non‐current Assets
A portion of special assessments receivable are collectible in greater than one year. This long‐term portion
of the receivable is reported as another non‐current asset.
Investment in joint ventures consists of the City’s equity balances and investment in debt of Valley
Communications Center and South Correctional Entity (see also Note 12).
8. Deferred outflows/inflows of resources
In addition to assets, the statement of financial position will report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflow of resources,
represents a consumption of net position that applies to a future period and will not be recognized as an
outflow (expense/expenditure) until that reporting period. The City has two items that qualify for reporting
in this category. Deferred amount on refunding is reported on the government‐wide statement of net
position and the proprietary fund statement of net position. A deferred amount on refunding results
from the difference in the carrying value of refunded debt and its reacquisition price. This amount is
deferred and amortized over the life of the refunded or refunding debt, whichever is shorter. Deferred
amounts related to pensions are differences between actual and projected experience and investment
earnings and the City’s contributions to pensions subsequent to the measurement date, which was June
30, 2016, provided by the State of Washington. Refer to Note 6 for more information on pensions.
Estimated
Intangible Asset Class Service Life
Computer software 3‐15 years
Patents, trademarks, copyrights 3‐50 years
Other 3‐12 years
Estimated
Capital Asset Class Useful Life
Buildings and structures, excluding utilities 10‐50 years
Other improvements 10‐80 years
Utility plant 25‐75 years
Machinery and equipment 3‐40 years
Infrastructure 25‐75 years
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐21
In addition to liabilities, the statement of financial position will report a separate section for deferred
inflows of resources. This separate financial statement element represents an acquisition of net position
that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until
that time (in prior years this inflow was recognized as “deferred revenue” within the liabilities). The City
has three items that it reports as a deferred inflow of resources. Unavailable revenue arises only on the
modified accrual basis, in the governmental fund balance sheet. The amount reported in unavailable
revenue is comprised of three sources: delinquent municipal court receivables, delinquent photo
enforcement receivables, and delinquent property tax receivables. These amounts are deferred and
recognized as revenue in the period the amounts become available. On the government‐wide statements
(accrual basis of accounting) the amounts are considered available and recognized as inflow of resource in
the current period. Deferred amount of special assessments is the long‐term principal due to the City from
special assessment connections. This amount is only reported in the governmental fund balance sheet.
Deferred amounts related to pensions are the net difference between the projected and actual earnings
on pension plan investments and changes in proportionate share. Refer to Note 6 for more information on
pensions.
9. Unearned Revenues
This account includes amounts collected in advance for services not yet rendered. The amounts are
subject to return to the payor in the event the associated services are not performed.
10. Custodial Accounts
This account reflects the liability for net monetary assets being held by the City in its agency capacity.
11. Compensated Absences
The City’s policy permits employees to accumulate earned but unused vacation leave benefits, which are
eligible for payment upon separation from City service. For employees hired prior to January 1, 1994, a
fifty percent cash out of accumulated earned but unused sick leave, is also eligible for payment upon
separation. The City accrues accumulated unpaid vacation and sick leave (when eligible) when earned (or
estimated to be earned) by the employee. The total compensated absences liability is reported on the
government‐wide statements and in each proprietary fund.
12. Fund Equity
Fund equity at the governmental fund level is classified as fund balance. Fund equity for all other reporting
is classified as net position.
Fund balance represents the difference between the current assets and current liabilities in the governmental
fund financial statements. Fund balance classifications comprise of a hierarchy based primarily on the extent
to which the City is bound to honor constraints on the specific purpose for which amounts in those funds can
be spent. Fund balances are classified as follows:
a. Nonspendable – items that cannot be spent due to form; inventories, prepaid amounts, long‐term loan
receivables, or amounts that must be maintained intact legally.
b. Restricted – amounts constrained for specific purposes imposed through the judicial process and
enabling legislation adopted by the City; or through external restrictions imposed by creditors,
grantors, or laws or regulations of other governments.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐22
c. Committed – amounts constrained by the City Council. Only the Council can, by ordinance, establish,
modify, or rescind constraints on committed fund balances.
d. Assigned – constraints imposed by the City Council for amounts intended for specific purposes, but do not
meet the criteria of restricted or committed. It is the City’s policy that intent of use can be assigned
by the City Council, or by a designated official, adopted through either the biennial budget ordinance or an
amending budget ordinance. For governmental funds, other than the General Fund, the residual fund
balance that is not restricted or committed is reported as assigned because the use of fund balance, at a
minimum, should be used for the purpose of that fund. Additional action does not need to be taken to
remove an assignment, whereas additional action is essential to remove a commitment.
e. Unassigned – any remaining fund balance in the General Fund that does not meet any of the above criteria.
The General Fund is the only fund that reports a positive unassigned fund balance amount. In other
governmental funds, not the General Fund, may report a negative unassigned fund balance if expenditures
incurred for a specific purpose exceed the amounts of restricted, committed, or assigned amounts to those
purposes.
The following shows the composition of the fund balance in governmental funds for the year ended
December 31, 2016:
General
Capital
Improvement
Other
Governmental Total
Nonspendable
CDBG Loans LT Receivable $ 200,000 $ ‐ $ ‐ $ 200,000
Renton Housing Authority LT Loans Receivable ‐ ‐ 64,783 64,783
Total Nonspendable 200,000 ‐ 64,783 264,783
Restricted
Public Safety 967,973 ‐ ‐ 967,973
Judicial 6,797 ‐ ‐ 6,797
Community Development Block Grant ‐ ‐ ‐ ‐
REET ‐ ‐ 1,677,271 1,677,271
Parks, Fire, and Street Impact Mitigation Fees ‐ 135,395 3,722,891 3,858,286
King County Parks Levy ‐ ‐ 366,201 366,201
Wetlands Mitigation Bank ‐ ‐ 334,185 334,185
State Fuel Tax ‐ 182,557 167,973 350,530
Hotel/Motel Tax ‐ ‐ 418,628 418,628
1% for Art ‐ ‐ 128,550 128,550
Cable Franchise Fees ‐ ‐ 394,697 394,697
Total Restricted 974,770 317,952 7,210,396 8,503,118
Committed
Debt Service ‐ ‐ 2,428,018 2,428,018
Library Construction ‐ ‐ 828,737 828,737
Capital Parks and Facilities Projects ‐ ‐ 8,341,470 8,341,470
Economic Stabilization ‐ ‐ 1,041,670 1,041,670
Capital Street Improvements ‐ 7,494,125 ‐ 7,494,125
Total Committed ‐ 7,494,125 12,639,895 20,134,020
Assigned
Culture and Recreation 170,118 ‐ ‐ 170,118
Capital Parks and Facilities Projects ‐ ‐ 5,466,535 5,466,535
Human Services 66,654 ‐ ‐ 66,654
Transportation ‐ 684,303 ‐ 684,303
Total Assigned 236,772 684,303 5,466,535 6,387,610
Unassigned
Unassigned 28,579,805 ‐ ‐ 28,579,805
Total Unassigned 28,579,805 ‐ ‐ 28,579,805
Total fund balances 29,991,347$ 8,496,380$ 25,381,609$ 63,869,336$
December 31, 2016
Governmental Fund Balances
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐23
Fund balance flow assumptions ‐ when multiple categories of fund balance are available for incurred
expenditures, it is the City’s policy to consider restricted fund balance to have been depleted before using
any of the components of unrestricted fund balance ( the total of committed, assigned, and unassigned
fund balance). Further, when the components of unrestricted fund balance can be used for the same
purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund
balance is applied last.
Net position reflects the difference between assets and liabilities, in the government‐wide and proprietary
fund statement of net position. The component net investment in capital assets consists of capital assets,
net of accumulated depreciation, reduced by any outstanding balances of any borrowing (ex. bonds or
loans and related deferred amounts on refunding) for the acquisition, construction, or improvement of
those assets. The net position is reported as restricted when there are limitations imposed on their use
either through enabling legislation adopted by the City or through external restrictions imposed by
creditors, grantors, or laws or regulations of other governments. The balance of the net position is
reported as unrestricted.
The following shows the composition of the restricted net position balances reported in the government‐
wide and proprietary fund statements for the year ended December 31, 2016:
Governmental
Activities
Business‐Type
Activities Total
Restricted Net Position
Public Safety 967,973$ ‐$ 967,973$
Judicial 6,797 ‐ 6,797
Community Development Block Grant 200,000 ‐ 200,000
REET 1,677,271 ‐ 1,677,271
King County Parks Levy 366,201 ‐ 366,201
Impact Mitigation Fees 3,858,286 ‐ 3,858,286
Wetlands Mitigation Bank 334,185 ‐ 334,185
State Fuel Tax 350,531 ‐ 350,531
Hotel/Motel Tax 418,628 ‐ 418,628
1% for Art 128,550 ‐ 128,550
Cable Franchise Fees 394,697 ‐ 394,697
Debt Service ‐ 2,909,578 2,909,578
Pensions 10,236,848 ‐ 10,236,848
Total Restricted Net Position $ 18,939,968 $ 2,909,578 $ 21,849,546
December 31, 2016
Restricted Net Position
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐24
Net position flow assumptions – In order to calculate the amounts to be reported as restricted net
position and unrestricted net position on the government‐wide and proprietary fund statements, a flow
assumption is made. It is the City’s policy to consider restricted net position to have been depleted before
unrestricted net position.
Minimum fund balance policy – The City Council has adopted a financial policy to maintain a minimum
level of unrestricted fund balance in the general fund. The target level is set at 12 percent, with a
minimum of 8 percent, of general fund operating expenditures. This amount is intended to provide fiscal
stability when economic downturns and other unexpected events occur.
Stabilization fund policy – The City has adopted a comprehensive stabilization policy that helps provide
stability through uncertain times. This allows for temporary cushion and flexibility when needed. The City
Council, through ordinance, has established the following stabilization reserves:
1. Economic development revolving fund reserve: the City will be accumulating reserves until the
target accumulation of $2.5 million is reached. These reserves will fund the City’s matching requirement
for the use of state Local Revitalization Financing. Expenditure utilizing this reserve will require a two‐
thirds majority vote of the City Council.
2. Catastrophic reserve: the City will maintain a targeted amount of 8 percent for risk management
reserves, for catastrophic emergencies. Expenditure utilizing this reserve will require a two‐thirds
majority vote of the City Council.
3. Anti‐recessionary reserve: the City will maintain a targeted reserve equal to 4 percent of the general
fund operating expense. Expenditures utilizing this reserve will require a two‐thirds majority vote of
the City Council and must be replenished within three years.
4. Annexation sales tax credit expiration/transition reserve: to help support debt service obligations
between the time the annexation sales tax credit expires (mid‐2018) and when the downtown parking
garage and library bond are paid (2022). Expenditures utilizing this reserve will require a two‐thirds
majority vote of the City Council.
5. General obligation bond payment reserve: for all councilmatic, general obligation bonds issued after
2013, a one year payment reserve shall be established. The only bond issued since this provision
are the 2015 General Obligation Refunding Bonds.
E. REVENUES, EXPENDITURES, AND EXPENSES
1. Operating Revenues and Expenses
Proprietary funds distinguish operating revenues and expenses from non‐operating revenues and
expenses. Operating revenue and expense generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal
operating revenue of the waterworks utility, solid waste, airport, golf course, and internal service funds
are charges to customers for sales and services. The waterworks utility also recognizes water meter
installation fees, and wastewater and surface water construction permit fees as operating revenue
because these charges are intended to offset the cost of connecting new customers to the system.
Operating expense for proprietary funds and internal service funds include the cost of sales and services,
administrative expenses, and depreciation of capital assets. All revenues and expenses not meeting this
definition are reported as non‐operating revenue and expense.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐25
2. Program Revenue
Amount reported as program revenue, on the government‐wide statement of activities, include: 1.
Charges for customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function and 2. Grants and contributions that are restricted to meeting the
operation or capital requirements of a given function. All taxes, included those dedicated to specific
purposes, are reported as general revenue rather than program revenue.
3. Capital Contributions
Capital contributions reported in the proprietary fund statements and the government‐wide statements
reflect the value of outside contributions of capital assets (i.e. developers, land donations, capital grants,
special assessments, and system development charges).
4. Interfund Activity
Exchange transactions between funds are reported as revenue in the selling fund and as an
expenditure/expense in the purchasing funds. On the government‐wide statement of activities, the
exchange transactions between the internal service funds and the user funds are eliminated. Flows of
cash or goods from one fund to another without a requirement of repayment are reported as interfund
transfers in/out. Interfund transfers in/out are reported as other financing sources/uses in the
governmental funds and following non‐operating revenues and expenses in the proprietary funds. In the
government‐wide statement of activities, transfers between governmental and business‐type activities are
reported as general revenue. Transfers between funds in governmental activities are eliminated and
transfers between funds in business‐type activities are eliminated.
5. Expenditures/Expenses
Expenses in the Government‐wide Statement of Activities are reported by function as a governmental
activity (general government, judicial, public safety, utilities, transportation, economic environment, health
and human services, culture and recreation), interest on long‐term debt, or business‐type activity
(waterworks utility, airport, solid waste utility, or golf course). In the fund financial statements,
expenditures of governmental funds are classified by: function, debt service principal and interest
payments, or purchases of capital items. Proprietary expenditures are classified as operating or non‐
operating.
The City recovers certain administrative costs through indirect cost allocations to departments city‐wide. These
allocated costs are consolidated and reported by function in the government‐wide statement of activities.
NOTE 2. COMPLIANCE AND ACCOUNTABILITY
The City of Renton budgets its funds under Generally Accepted Accounting Principles (GAAP) at the fund level.
Annual appropriated budgets are adopted for governmental funds on a biennial basis. Budgets for proprietary
funds are “management budgets” and are not legally required to be reported. Included in the Required
Supplemental Information and Combining Statements sections of the CAFR are Schedules of Revenues,
Expenditures, and Changes in Fund Balances (Budget to Actual) reporting the Actual Budgetary GAAP Basis
verses Actual GAAP Basis of Accounting for all legally adopted budgets.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐26
There have been no material violations of finance‐related legal or contractual provisions, and there have been
no expenditures exceeding legal appropriations in any of the funds of the City. At year‐end 2016, the City of
Renton noted the Firefighters’ Pension Funds exceeded its final adopted “management budget” by $8,181.
A. PROCEDURES FOR ADOPTING THE ORIGINAL BUDGET
The City of Renton’s biennial budget procedures are mandated by the Chapter 35A.33 of the Revised Code of
Washington (RCW). The steps in the budget process are as follows:
1. Prior to November 1, the Mayor submits a proposed budget to the City Council. This budget is based on
priorities established by the Council; estimates provided by the City departments during the preceding
months; balanced by revenue estimates made by the Mayor; and includes reserves for various
contingencies.
2. The City Council conducts public hearings on the proposed budget in November and December.
3. The Council makes their adjustments to the proposed budget and adopts, by ordinance, a final balanced
budget no later than December 31.
4. The final operating budget, as adopted, is published and distributed within the first four months of the
following year.
B. AMENDING THE BUDGET
The budget, as adopted, constitutes the legal authority for expenditures. Budgets are adopted on the GAAP
basis of accounting. Any comparisons between budget and actual revenues and expenditures are reported
under the GAAP basis. The biennial budget is adopted with budgetary control at the fund level, so expenditures
may not legally exceed appropriations at that level of detail. Transfers or revisions within funds are allowed,
but only the City Council has the legal authority to increase or decrease a given fund’s annual budget. This is
accomplished by City ordinance. Adopted budgets lapse at year‐end and must be re‐appropriated (carried
forward) the next fiscal year. The budget was amended six times during 2016.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐27
Original budgeted inflows as compared to the final budgeted inflows are as follows:
Original budgeted outflows as compared to the final budgeted outflows are as follows:
Increase
Original Final (Decrease)
Budgeted Budgeted Budgeted
Fund Outflows Outflows Outflows
General Fund 111,224,892$ 123,970,828$ 12,745,936$
Arterial Street Fund 650,000 650,000 ‐
Hotel/Motel Tax Fund 265,000 326,298 61,298
1% for Art Fund ‐ 102,950 102,950
Cable Communications Development Fund 97,674 164,270 66,596
General Government Miscellaneous Debt Service Fund 6,248,676 6,248,676 ‐
Community Development Impact Mitigation Fund ‐ 276,289 276,289
Fire Impact Mitigation Fund 250,000 850,000 600,000
Transportation Impact Mitigation Fund ‐ 110,660 110,660
Municipal Facilities CIP Fund 5,392,000 22,242,326 16,850,326
General Government Capital Improvement Fund 6,831,590 23,460,878 16,629,288
Airport Fund 3,786,185 14,301,353 10,515,168
Solid Waste Utility Fund 17,144,532 17,140,339 (4,193)
Golf Course Fund 2,303,479 2,295,432 (8,047)
Waterworks Utility Fund 53,806,662 98,859,858 45,053,196
Equipment Repair and Replacement / IT / Facilities /
Communications Fund 14,869,214 18,282,778 3,413,564
Insurance Fund 19,273,296 23,026,296 3,753,000
Firefighters' Pension 200,475 200,475 ‐
TOTAL 242,343,675$ 352,509,706$ 110,166,031$
Increase
Original Final (Decrease)
Budgeted Budgeted Budgeted
Fund Inflows Inflows Inflows
General Fund 111,321,246$ 119,344,204$ 8,022,958$
Arterial Street Fund 650,000 650,000 ‐
Hotel/Motel Tax Fund 265,000 225,000 (40,000)
1% for Art Fund 15,000 15,000 ‐
Cable Communications Development Fund 97,674 97,674 ‐
General Government Miscellaneous Debt Service Fund 6,248,676 7,448,676 1,200,000
Community Development Impact Mitigation Fund 86,500 86,500 ‐
Fire Impact Mitigation Fund 99,000 99,000 ‐
Transportation Impact Mitigation Fund 216,500 610,660 394,160
Municipal Facilities CIP Fund 5,103,000 10,642,477 5,539,477
General Government Capital Improvement Fund 6,582,000 20,857,529 14,275,529
Airport Fund 3,473,293 14,755,346 11,282,053
Solid Waste Utility Fund 16,514,320 16,514,320 ‐
Golf Course Fund 2,812,793 2,812,793 ‐
Waterworks Utility Fund 52,585,019 80,506,864 27,921,845
Equipment Repair and Replacement / Information
Technology / Facilities / Communications Fund 16,582,054 17,058,799 476,745
Insurance Fund 19,949,672 20,734,232 784,560
Firefighters' Pension 468,000 468,000 ‐
TOTAL 243,069,747$ 312,927,074$ 69,857,327$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐28
NOTE 3. DEPOSITS AND INVESTMENTS
Cash and Cash Equivalents and Investments
Cash and cash equivalents are generally considered short‐term, highly liquid investments with a maturity of
three months or less from the purchase date.
Investments are recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement
and Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease
to investment assets and investment income.
A. DEPOSITS
Custodial Credit Risk
Custodial Credit Risk is the risk that in the event of a failure of the counterparty to an investment transaction
the City would not be able to recover the value of the investment or collateral securities.
The City’s deposits and certificates of deposit are entirely covered by the Federal Depository Insurance
Corporation (FDIC) or held in a multiple financial institution collateral pool administrated by the State of
Washington Public Deposit Protection Commission (PDPC).
B. INVESTMENTS
Investments not measured at Fair Value
As of December 31, 2016, the City had the following investments at amortized cost:
Security Type Cost at 12/31/2016
Local Government Investment Pool (LGIP) $ 75,144,187
Non‐negotiable CD's 30,124,090
TOTAL INVESTMENTS $ 105,268,277
The City’s deposits with the Local Government Investment Pool (LGIP) are managed by the Washington State
Office of the Treasurer. The LGIP is comparable to a Rule 2a7‐pool recognized by the Securities and Exchange
Commission. A 2a7‐like‐pool is an external investment pool that is not registered with the SEC as an
investment company but nevertheless has a policy that it will, and does, operate in a manner consistent
with the SEC’s Rule 2a7 of the Investment Company Act of 1940. Rule 2a7 allows SEC‐registered mutual
funds to use amortized cost, which approximates fair value, to report net assets and compute share prices.
Investments measured at Fair Value
The City measures and records its investments within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. The guidelines recognize a three‐tiered fair value hierarchy, as follows:
Deposits Deposits at 12/31/2016
Bank Deposits $ 43,016,706
Non‐negotiable Certificates of Deposit (CD’s) 30,124,090
TOTAL DEPOSITS $ 73,140,796
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐29
Level 1: Quoted prices in active markets for identical assets or liabilities;
Level 2: These are quoted market prices for similar assets or liabilities, quoted prices for identical or similar
assets or liabilities in markets that are not active, or other than quoted prices that are not
observable.
Level 3: Unobservable inputs for an asset or liability.
At December 31, 2016 the City had the following recurring fair value measurements:
Fair Value Measurements Using:
Security Type Total
Quoted Prices in Active
Markets for Identical
Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
U.S. Agency Securities $18,725,077 $18,725,077
U.S. Treasury Securities 2,383,686 2,383,686
TOTAL INVESTMENTS $21,108,763 $21,108,763
The City invests excess and inactive funds in accordance with the City’s Investment Policy (last updated and
approved on February 23, 2009), which complies with the guidelines within Chapter 35A.40.050 of the
Revised Code of Washington (RCW). This allows for investment of excess cash and inactive cash, directs that
the responsibility for determining available cash for investment is placed upon the department
administering the funds, and allows for pooling of the cash provided that the allocation of income is
proportionate to the investment of each fund. Currently, the City invests in obligations of the U.S.
Government, U.S. agency issues, and Certificates of Deposit with Washington State banks and savings and
loan institutions as allowed by RCW.
Investments are shown on the Government‐Wide Statement of Net Position at fair value. Investments are
reported within Cash and Investments of Governmental Activities and within Cash and Cash Equivalents or
Investments of Business‐Type Activities.
Credit risk. Credit Risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. The City invests in US Treasury securities which are considered free of credit risk, and in
securities backed by the full faith and credit of the U.S. Government as well as U.S. government sponsored
enterprises including Federal National Mortgage Association, Federal Loan Mortgage Corporation, and
Federal Farm Credit Bank.
Interest Rate Risk. Interest rate risk is the risk that changes in interest rates over time, adversely affecting
the fair value of an investment. The City’s portfolio is managed within the parameters established by the
Investment Policy, which limits the weighted average maturity of the portfolio to five years. The City has
one FNMA bond with call provisions that fall in the first six months of 2017.
Investment Type Cost Fair Value Moody's S&P
Local Government Investment Pool (LGIP) $ 75,144,187 $ 75,144,187 unrated unrated
Certificates of Deposit 30,124,090 30,124,090 N/A N/A
Federal National Mortgage Association 11,267,126 11,350,319 Aaa AA+
Federal Home Loan Banks 6,741,725 6,738,346 Aaa AA+
US Treasury STRIP COUPON 1,561,038 2,383,686 N/A N/A
FNMA Zero Coupon 599,278 636,411 N/A N/A
TOTAL INVESTMENTS $ 125,437,444 $ 126,377,039
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐30
Investment Type Cost Fair Value
Average
Interest
Rate
Local Government Investment Pool (LGIP) $ 75,144,187 $ 75,144,187 0.520%
Certificates of Deposit 30,124,090 30,124,091 1.139%
Federal National Mortgage Association 11,267,126 11,350,319 1.393%
Federal Home Loan Banks 6,741,725 6,738,346 1.398%
US Treasury STRIP COUPON 1,561,038 2,383,686 6.132%
FNMA Zero Coupon 599,278 636,411 3.964%
TOTAL INVESTMENTS $ 125,437,444 $ 126,377,040
The City’s Investment Policy directs that the standard of prudence for investment activities shall be the
Prudent Investor Standard that states: “Investments shall be made with judgment and care, under
circumstances then prevailing, which person of prudence, discretion, and intelligence would use in the
management of their own affairs, not for speculation, but for investment purposes, considering the probable
safety of their capital as well as the probable income to be derived.”
Investment Type
0‐6
months
6 months ‐
1 year
1‐3
years
3+
years Totals
Local Government Investment Pool $75,144,187 $ ‐ $ ‐ $ ‐ $75,144,187
Certificates of Deposit ‐ 4,811,116 20,353,275 4,959,700 30,124,091
Federal National Mortgage Association ‐ 4,782,828 4,777,563 1,789,928 11,350,319
Federal Home Loan Banks ‐ 6,738,346 ‐ ‐ 6,738,346
US Treasury STRIP COUPON ‐ 158,768 825,200 1,399,718 2,383,686
FNMA Zero Coupon ‐ ‐ 501,242 135,169 636,411
TOTAL INVESTMENTS $75,144,187 $16,491,058 $26,457,280 $ 8,284,515 $126,377,040
Concentration of Credit Risk. Concentration of credit risk is the risk of loss attributed to the magnitude of a
government’s investment in a single issuer. The City diversifies its investment instruments to avoid incurring
unreasonable risk inherent with the over‐investment of instruments and issuers using the following target
distribution as a guide during normal economic times while allowing flexibility when appropriate. The City’s
individual issuers are less than 5% of total investments or are otherwise excluded from this disclosure due
to the low risk nature of the investment.
Target Maximum per Policy
Instrument
Maximum
Issuer
Maximum
U.S. Treasuries 100% 100%
U.S. Agencies 75% 50%
Certificates of Deposit (within WPDPC) 75% 20%
Local Governmental Investment Pool (LGIP) 75% 75%
Commercial Paper 25% 5%
Custodial Credit Risk – Investments. Custodial credit risk for investments is the risk that, in the event of the
failure of the counter party to a transaction, a government will not be able to recover the value of investment
or collateral securities that are in the possession of an outside party. All security transactions, including
collateral for repurchase agreements, entered into by the City are conducted on a delivery‐versus‐payment
(DVP) basis and are held in our safekeeping trust account with Wells Fargo under terms negotiated by the
State of Washington.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐31
NOTE 4. PROPERTY TAXES
The King County Finance Director acts as an agent to collect property taxes levied in the county for all taxing
authorities. Taxes are levied annually, January 1, on property value listed as of the prior August 31. Assessed
values are established by the King County Assessor at 100 percent of fair market value. A revaluation of all
property is required every two years; however, King County has the ability to revalue annually.
Property taxes levied by the King County Assessor and collected by the King County Finance Director become a
lien on the first day of the levy year and may be paid in two equal installments if the total amount exceeds $30.
The first half of real property taxes is due on April 30 and the balance is due October 31. Delinquent taxes bear
interest at the rate of 12 percent and are subject to additional penalties if not paid as scheduled. No allowance
for uncollectible taxes is established because delinquent taxes are considered fully collectible.
At year‐end, property taxes are recorded as a receivable with the portion not expected to be collected within
60 days offset by unavailable revenue. During the year, property tax revenues are recognized when cash is
received.
The tax rate for general City operations is limited to $3.10 per $1,000 of assessed value (RCW 84.52.043). This
reflects a reduction of $0.50 per $1,000 as a result of the annexation to the King County Library System. In
addition to this amount, up to $0.225 (22.5 cents) per $1,000 may be designated for contribution to the
Firemen’s Pension Fund. If a report by a qualified actuary on the condition of the Firemen’s Pension Fund
establishes that this amount (or portion of) is not necessary to maintain the actuarial soundness of the fund,
the amount can be used for any other municipal purpose (RCW 41.16.060).
The tax rate limit may be reduced for any of the following reasons:
1. The Levy Limit: the levy limit calculation applies to a taxing district’s budget, and not to increases in the
assessed value or tax bill of individual properties. Initiative 747 which restricted individual taxing districts
from collecting, in any year, more than a one percent increase in their regular, non‐voted, levy over the
highest levy amount since 1985 was overturned by the courts. However during 2007, the state legislature
reinstated this limit with the passage of HB2416. New construction, annexations, and excess levies
approved by the voters are not included in the levy limit calculation. If the assessed valuation increases
by more than one percent due to revaluation, the levy rate will be decreased.
2. The One Percent Constitution Limit: The Washington State Constitution limits the regular (non‐voted)
combined property tax rate applied to an individual’s property to one percent ($10 per $1,000) on the
market valuation. Voters may approve special levies that are added to this figure. If the taxes of all districts
exceed this amount, each is proportionately reduced until the total is at or below the one percent limit.
3. The City may voluntarily levy taxes below the legal limit.
Special levies approved by the voters are not subject to the above limitations. There is currently no excess levy
for General Obligation Bond debt. The City’s regular levy per the King County Assessor’s 2016 Annual Report is
$2.71.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐32
NOTE 5. CAPITAL ASSETS AND DEPRECIATION
Depreciation and amortization was charged to the functions as follows:
Depreciation Amortization Total
General Government $ 1,204,514 $ ‐ 1,204,514$
Judicial ‐ 6,700 6,700
Public Safety 517,164 1,529 518,693
Physical Environment 460,001 ‐ 460,001
Transportation 5,934,766 11,475 5,946,241
Economic Development 495,956 ‐ 495,956
Culture and Recreation 1,398,933 ‐ 1,398,933
Health and Human Services 53,365 ‐ 53,365
Internal Service Funds (General Governmental) 2,104,718 142,632 2,247,350
$ 12,169,417 $ 162,336 $ 12,331,753
Depreciation Amortization Total
Waterworks $ 8,694,342 $ 45,713 8,740,055$
Airport 1,138,024 ‐ 1,138,024
Golf Course 233,634 ‐ 233,634
$ 10,066,000 $ 45,713 $ 10,111,713
Total‐Governmental Activities
Total‐Business‐Type Activities
Governmental Activities
Business‐Type Activities
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐33
Capital asset activity for the year ended December 31, 2016 was as follows:
Beginning Ending
Balance Increases Decreases Reallocation Balance
Governmental activities :
Capital assets, not being depreciated:
Land and land improvements $ 204,852,855 $ 408,305 $ 765,557 $ 466,855 $ 204,962,458
Construction in progress 55,605,328 11,454,179 18,527,289 (31,153,427) 17,378,791
Total capital assets, not being depreciated 260,458,183 11,862,484 19,292,846 (30,686,572) 222,341,249
Capital assets, being depreciated:
Buildings and structures 95,569,277 26,056 16,096,483 ‐ 79,498,850
Other improvements 260,735,887 4,240,296 443,656 30,631,825 295,164,352
Machinery and equipment 38,366,272 1,691,203 11,924,418 25,950 28,159,007
Total capital assets being depreciated 394,671,436 5,957,555 28,464,557 30,657,775 402,822,209
Less accumulated depreciation for:
Buildings and structures 40,028,688 2,334,497 6,626,745 ‐ 35,736,440
Other improvements 83,836,266 7,562,300 80,144 ‐ 91,318,422
Machinery and equipment 26,425,069 2,272,620 9,133,383 ‐ 19,564,306
Total accumulated depreciation 150,290,023 12,169,417 15,840,272 ‐ 146,619,168
Total capital assets, being depreciated, net 244,381,413 (6,211,862) 12,624,285 30,657,775 256,203,041
Intangible Assets:
Intangible assets, being amortized 5,720,453 ‐ 1,149,580 28,797 4,599,670
Less accumulated amortization 5,170,719 162,336 1,149,580 ‐ 4,183,475
Total intangible asset, being amortized, net 549,734 (162,336) ‐ 28,797 416,195
Total Intangible assets 549,734 (162,336) ‐ 28,797 416,195
Governmental activities capital assets, net $ 505,389,330 $ 5,488,286 $ 31,917,131 $ ‐ $ 478,960,485
Business‐type activities:
Capital assets, not being depreciated:
Land and land improvements $ 6,150,056 $ ‐ $ ‐ $ ‐ $ 6,150,056
Construction in progress 12,119,740 9,013,670 ‐ (6,155,817) 14,977,593
Total capital assets, not being depreciated 18,269,796 9,013,670 ‐ (6,155,817) 21,127,649
Capital assets, being depreciated:
Buildings and structures 17,459,974 ‐ ‐ 275,395 17,735,369
Other improvements 401,678,483 8,185,202 750,658 5,880,422 414,993,449
Machinery and equipment 2,894,169 152,884 221,195 ‐ 2,825,858
Total capital assets being depreciated 422,032,626 8,338,086 971,853 6,155,817 435,554,676
Less accumulated depreciation for:
Buildings and structures 7,636,797 442,903 ‐ ‐ 8,079,700
Other improvements 130,924,858 9,508,796 297,801 ‐ 140,135,853
Machinery and equipment 1,969,648 114,302 221,195 ‐ 1,862,755
Total accumulated depreciation 140,531,303 10,066,001 518,996 ‐ 150,078,308
Total capital assets, being depreciated, net 281,501,323 (1,727,915) 452,857 6,155,817 285,476,368
Intangible Assets:
Intangible assets, not being amortized 811,000 ‐ ‐ ‐ 811,000
Intangible assets, being amortized 527,222 ‐ ‐ ‐ 527,222
Less accumulated amortization 203,419 45,713 ‐ ‐ 249,132
Total intangible asset, being amortized, net 323,803 (45,713) ‐ ‐ 278,090
Total Intangible assets 1,134,803 (45,713) ‐ ‐ 1,089,090
Business‐type activities capital assets, net $ 300,905,922 $ 7,240,042 $ 452,857 $ ‐ $ 307,693,107
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐34
At the end of 2016, a total of 60 projects comprise the Construction in Progress. Upon completion, the projects
will be reallocated to their appropriate categories.
Construction commitments as of December 31, 2016, are as follows:
Governmental Activities Projects:
Construction
in progress
Remaining
Commitment
RCC RECEPTION AREA REMODEL 49,277$ ‐$
COULON CCTV SYSTEM 5,231 ‐
COMM SVCS MAINT SHOPS REHAB 179,495 13,629
CED PERMIT AREA RECONFIGURATION 339,663 60,658
SIGN SHOP IMPROVEMENTS 31,776 ‐
REGIS PARK ATHLETIC FIELD EXPANSION 67,298 14,760
FAWCETT SOUTH ACQUISITION 11,000 ‐
RON REGIS PARK LANDSCAPING 101,362 11,531
SUNSET EIS PARK LAND 3,785,612 ‐
SUNSET EIS PARK 292,001 66,748
KENYON PROPERTY BUILDING 73,991 ‐
KENYON PROPERTY INSTAHOT WATER HEATER 10,556 ‐
NORTH HIGHLANDS COMMUNITY GARDEN 7,381 ‐
FIRE STATION 15 503 ‐
FLETCHER ACQUISITION 276,483 15,279
4TH AND TAYLOR ADA RAMP 9,788 ‐
NE 31ST CULVERT 1,121,007 ‐
116TH AVE SE IMPROVEMENTS 384,794 136,011
SUNSET LANE 1,540,778 3,166,059
LOGAN AVE NE 6,966,788 717,195
SIGNAL AT 156TH AVE SE & 142ND PL 155,704 37,674.50
NE 31ST ST BRIDGE REPLACEMENT 284,239 223,522
DUVALL AVE‐7TH TO SUNSET 163,885 230,908
MAPLEWOOD SIDEWALK EXT ‐ SE 5TH ST 32,632 54,765
LAKE WASHINGTON LOOP TRAIL 385,301 377,405
MAIN AVE S FIBER RELOCATION 87,264 17,970
MAIN AVE S DOWNTOWN CIRCLE 567,031 103,382
CARR ROAD IMPROVEMENTS 149,660 30,329
2016 BMW R1200RTP MOTORCYCLE 28,137 ‐
POLICE TELESTAFF MIGRATION 5,719 ‐
MT. OLIVET AND TALBOT FIBER EXTENSION 32,850 ‐
CITY WEBSITE REDESIGN 34,525 ‐
ONLINE B&O REPORTING AND PAYMENT SYSTEM 30,000 ‐
4TH FLOOR REMODEL 113,707 4,338
POLICE SUBSTATION HVAC 21,734 ‐
ELIPTICAL CARDIO STEPPERS FOR LIBERTY PARK (3) 18,631 ‐
HEALTHBEAT ELIPTICAL FOR HERITAGE PARK 7,568 ‐
HEALTHBEAT CHEST/BACK PRESS FOR HERITAGE PARK 5,420 ‐
Total governmental activities 17,378,791$ 5,282,164$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐35
NOTE 6. PENSION PLANS
For purposes of measuring the net pension liability/asset, deferred outflows of resources and deferred inflows
of resources related to pensions, and pension expense, information about the fiduciary net position of the Plans
and additions to/deductions from the Plan’s fiduciary net position have been determined on the same basis as
they are reported by the State of Washington Department of Retirement Systems (DRS). For this purpose,
benefit payments (including refunds of employee contributions) are recognized when due and payable in
accordance with the benefit terms. Investments are reported at fair value.
General Information about the Pension Plans
With the exception of firefighters employed prior to March 1, 1970, substantially all the City’s full‐time and
qualifying part‐time employees are eligible to participate in one of the following statewide retirement systems
administered by the Washington State Department of Retirement Systems:
Public Employees’ Retirement System (PERS) Plans 1, 2, and 3
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF) Plans 1 and 2
Public Safety Employees’ Retirement System (PSERS) Plan 2
Business‐Type Activities Projects:
Construction
in progress
Remaining
Commitment
AIRPORT OFFICE REHAB 103,826$ 211,804$
KITCHEN REMODEL 2,340 1,560
HIGHLANDS 435 ‐ RESEVOIRS REPLACEMENT 802,647 475,841
TRANS MAIN REPLACEMENT ‐ SR 169 RAMP TO 405 445,453 890
RENTON HILL MAIN REPLACEMENT 260,492 3,170
TELEMETRY IMPROVEMENTS 566,706 52,038
LOGAN AVE MAIN 129,535 3,170
SUNSET LANE NE WATER MAIN IMPROVEMENTS 43,539 421,839
KENNYDALE 320‐RESERVOIR 152,328 297,413
CENTRAL RENTON INT RELINE UPSIZE 626,191 7,435
THUNDER HILLS SANITARY 151,634 171,408
2015 SANITARY SEWER REHAB/REPLACMENT 143,086 ‐
TALBOT HILL 3,526,193 610,628
RENTON HILL SEWER REPLACEMENT 19,395 ‐
FALCON RIDGE LS REHAB 2,532 ‐
SUNSET LANE AREA SEWER REPLACEMENT 190,172 217,814
HIGHLANDS MANHOLE AND MAINLINE REPAIRS 12,460 ‐
HARDIE AVE S UNDERPASS SS IMP 6,574,965 898,128
MAPLEWOOD CREEK BASIN STORM IMP 739,371 ‐
HARRINGTON AVE RETROFIT 132,973 ‐
SUNSET LANE NE STORM SYSTEM IMPROVEMENT 222,172 361,417
RENTON HILL STORM SYSTEM IMPROVEMENT 129,583 65,920
Total business ‐type activities 14,977,593$ 3,800,473$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐36
The Department of Retirement Systems (DRS), a department within the primary government of the State of
Washington, issues a publicly available comprehensive annual financial report (CAFR) that includes financial
statements and required supplementary information for each plan. The DRS CAFR may be obtained by
contacting the Washington State Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504‐
8380; or online from the DRS website at www.drs.wa.gov.
The City is the administrator of the Firefighters’ Pension Plan for all firefighters employed prior to March 1,
1970. The Firefighters’ Pension Plan is included within the City of Renton’s statements as a pension trust fund.
There is no separate GAAP‐based audited report. A schedule of employer contributions, prepared by Milliman,
Inc. is included in the Required Supplemental Information section. Additional information from the actuarial
report prepared for the Firefighters’ Pension Plan, by Milliman, Inc., may be obtained by contacting the City of
Renton, Finance Division, 1055 South Grady Way, Renton, WA 98057.
A. State Sponsored Pension Plans
Public Employees’ Retirement System (PERS)
Plan Description ‐ PERS was established by the state legislature in 1947 under the Revised Code of Washington
(RCW) chapter 41.40. PERS is a multiple‐employer cost‐sharing retirement system. Membership in the system
includes: elected officials; state employees; employees of the Supreme, Appeals, and Superior Courts (other
than judges currently in a judicial retirement system); employees of legislative committees; community and
technical colleges, college and university employees not in national higher education retirement programs;
judges of district and municipal courts; and employees of local governments.
PERS consists of three plans. PERS participants, who joined the PERS system by September 30, 1977, are Plan 1
members. Plan 1 is closed to new members. Those who joined on or after October 1, 1977; and by either,
February 28, 2002 for state and higher education employees, or August 31, 2002 for local government
employees, are Plan 2 members unless they exercise an option to transfer their membership to Plan 3. PERS
participants joining the system on or after March 1, 2002 for state and higher education employees, or
September 1, 2002 for local government employees, have the irrevocable option of choosing membership in
either PERS Plan 2 or PERS Plan 3. The option must be exercised within 90 days of employment. An employee
is reported in Plan 2 until a choice is made. Employees who fail to choose within 90 days default to PERS Plan 3
Benefits Provided ‐ PERS plans provide retirement, disability, and death benefits to eligible members. PERS Plan
1 members are vested after the completion of five years of eligible service. Plan 1 members are eligible for
retirement after 30 years of service, or at the age of 60 with five years of service, or at the age of 55 with 25
years of service. The monthly benefit is two percent of the average final compensation (AFC) per year of service,
capped at sixty percent. The AFC is the average of the member’s 24 highest consecutive service months. Plan
1 members who retire from inactive status prior to the age of 65 may receive actuarially reduced benefits. Plan
1 members may elect to receive an optional cost of living allowance (COLA) that provides an automatic annual
adjustment based on the Consumer Price Index. The adjustment is caped at three percent annually. To offset
the cost of this annual adjustment the benefit is reduced.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐37
PERS Plan 2 members are vested after completion of five years of eligible service. Plan 2 members are eligible
for normal retirement at the age of 65 with five years of service. The monthly benefit is two percent of the AFC
per year of service. There is no cap on years of service credit and a COLA is granted based on the Consumer
Price Index, capped at three percent annually. The AFC is the average of the member’s 60 highest paid
consecutive months. Plan 2 members have the option to retire early with reduced benefits.
PERS Plan 3 has a dual benefit structure. Employer contributions finance a defined benefit component, and
member contributions finance a defined contribution component. The defined benefit portion provides
members a monthly benefit that is one percent of the AFC per year of service. There is no cap on years of service
credit. Plan 3 provides the same COLA as Plan 2. The AFC is the average of the member’s 60 highest paid
consecutive months. Effective June 7, 2006, Plan 3 members are vested in the defined benefit portion of their
plan after ten years of service; or after five years of service, if twelve months of that service are earned after
age 44; or after five service credit years earned in PERS Plan 2 by June 1, 2003. Plan 3 members are immediately
vested in the defined contribution portion of their plan.
The Judicial Benefit Multiplier (JBM) Program began January 1. 2007. This program gave eligible justices and
judges an option to increase the benefit multiplier used in their retirement benefit calculation for their judicial
service period of employment. Beginning January, 2007, any justice or judge who was in a judicial position at
that time could choose to join JBM. Any justice or judge elected or appointed to office on or after January 1,
2007, who elects to join DRS membership will also be mandated into JBM. If they have already established
membership in PERS or TRS Plan 1 they will rejoin that plan, but if they have never had membership they will
be enrolled as a member of both PERS Plan 2 and JBM.
Contributions ‐ PERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council adopts
Plan 1 employer contribution rates, Plan 2 employer and employee contribution rates, and Plan 3 employer
contribution rates. The methods used to determine contribution requirements are established under state
statute. 2016 employer contributions were $1,567,065, $1,680,837, and $304,091 for Plans 1, 2, and 3,
respectively.
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2016, were as follows:
Required Contribution Rates Employer Employee
Plan 1P l a n 2P l a n 3P l a n 1P l a n 2P l a n 3
PERS
Members not participating in JBM
State agencies, local governmental units 11.00% 11.00% 11.00% 6.00% 6.12% **
Administrative fee 0.18% 0.18% 0.18%
Total 11.18% 11.18% 11.18% *
Members participating in JBM
Local governmental units 11.00% 11.00% 11.00% 12.26% 15.30% 7.5%***
Administrative fee 0.18% 0.18% 0.18%
Total 11.18% 11.18% 11.18% *
*P l a n 3 defined benefit portion only.
** Variable from 5% to 15% based on rate selected by the member.
*** Minimum rate.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐38
Public Safety Employee’s Retirement System (PSERS)
Plan Description ‐ The PSERS system was created by the 2004 Legislature and became effective July 1, 2006
under RCW 41.37. PSERS is a multiple‐employer cost‐sharing retirement system comprised of a single defined
benefit plan, PSERS Plan2. PSERS membership includes full‐time employees meeting specific eligibility criteria
that are employed by Department of Corrections, Department of Natural Resources, Gambling Commissions,
Liquor Control Board, Parks and Recreation Commission, Washington State Patrol, Washington state counties,
corrections departments of Washington state cities except for Seattle, Tacoma, and Spokane, or correctional
entities formed by PSERS employers under the Interlocal Cooperation Act.
Benefits Provided ‐ PSERS provides retirement, disability, and death benefits to eligible members. PSERS
members are vested after an employee completes five years of eligible service, PSERS members may retire at
the age of 65 with five years of service, or at the age of 60 with at least ten years of PSERS service credit, or at
age 53 with twenty years of service with a monthly benefit of two percent of the average final compensation
(AFC). A cost of living allowance (COLA) is granted based on the Consumer Price Index, capped at three percent
annually. The AFC is the average of the member’s 60 highest paid consecutive months.
PSERS members have the option to retire early with reduced benefits. PSERS members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these options are
available to their survivors, generally with reduced benefits.
Contributions ‐ PSERS defined benefit retirement benefits are financed from a combination of investment
earnings and employer and employee contributions. Each biennium, the state Pension Funding Council adopts
Plan 2 employer and employee contribution rates. The employer and employee contribution rates for Plan 2
are developed by the Office of the State Actuary to fully fund Plan 2. The methods used to determine the
contribution requirements are established under state statute. 2016 employer contributions to PSERS Plan 2
were $13,900.
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2016, were as follows:
Required Contribution Rates Employer Employee
Plan 2P l a n 2
PSERS
State agencies, local governmental units 11.36% 6.59%
Administrative fee 0.18%
Total 11.54%
Law Enforcement Officers’ and Firefighters’ Retirement System (LEOFF)
Plan description ‐ LEOFF was established by the state legislature in 1970 under the Revised Code of Washington
(RCW) chapter 41.26. LEOFF is a multiple‐employer cost‐sharing retirement system. Membership in the system
includes all full‐time, fully compensated, local law enforcement commissioned officers, firefighters, and as of
July 24, 2005, emergency medical technicians. LEOFF membership is comprised primarily of non‐state
employees, with Department of Fish and Wildlife enforcement officers who were first included effective July 27,
2003, being an exception.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐39
LEOFF consists of two separate defined benefit plans. LEOFF participants who joined the system by September
30, 1977, are Plan 1 members. Plan 1 is closed to new members. Those who joined on or after October 1, 1977,
are Plan 2 members.
Effective July 1, 2003, the LEOFF Plan 2 Retirement Board was established by Initiative 790 to provide
governance of LEOFF Plan 2. The Board’s duties include adopting contribution rates and recommending policy
changes to the Legislature for the LEOFF Plan 2 retirement plan.
Benefits provided ‐ LEOFF plans provide retirement, disability, and death benefits to eligible members. LEOFF
Plan 1 members are vested after the completion of five years of eligible service. Plan 1 members are eligible for
retirement with five years of service at the age of 50. The benefit per year of service calculated as a percent of
final average salary (FAS) is as follows:
Term of Service
Percent of Final
Average Salary
20 or more years 2.0%
10 but less than 20 years 1.5%
5 but less than 10 years 1.0%
A cost of living allowance (COLA) is granted based on the Consumer Price Index. LEOFF Plan 2 members are
vested after the completion of five years of eligible service. Plan 2 members are eligible for retirement at the
age of 53 with five years of service, or at age 50 with twenty years of service. Plan 2 members receive a benefit
of two percent of the FAS per year of service. FAS is based on the highest consecutive 60 months. A COLA is
granted based on the Consumer Price Index, capped at three percent annually.
LEOFF members have the option to retire early with reduced benefits. LEOFF members meeting specific
eligibility requirements have options available to enhance their retirement benefits. Some of these options are
available to their survivors, generally with reduced benefits.
Contributions ‐ LEOFF defined benefit retirement benefits are financed from a combination of investment
earnings, employer and employee contributions, and a special funding situation in which the state pays through
state legislative appropriations.
Employer and employee contribution rates are developed by the Office of the State Actuary to fully fund the
plans. Starting on July 1, 2000, Plan 1 employers and employees are not required to contribute as long as the
plan remains fully funded. Plan 2 employers and employees are required to pay at the level adopted by the
LEOFF Plan 2 Retirement Board. The methods used to determine contribution requirements are established
under state statute. 2016 employer contributions to LEOFF Plan 2 were $1,449,206.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐40
The required contribution rates expressed as a percentage of current‐year covered payroll, as of December 31,
2016, were as follows:
Required Contribution Rates Employer Employee
Plan 1P l a n 2P l a n 1P l a n 2
LEOFF
Local governmental units N/A 5.05% N/A 8.41%
Administrative fee 0.18% 0.18%
Total 0.18% 5.23%
N/A Indicates data not applicable.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
As of June 30, 2016, the City reported its proportionate share of the net pension liability/(asset) as follows:
The amount of the liability/(asset) reported above for LEOFF Plan 2 reflects a reduction for the City’s collective
liability to be paid by the State. The City recognized $944,777 as contribution revenue for the State’s on‐behalf
payment for 2016. The amount recognized by the City as its proportionate share of the net pension
liability/(asset), the portion of the City’s net pension liability/(asset) to be paid by the State, and the total portion
of the net pension liability/(asset) that was associated with the City were as follows:
The collective net pension liability was measured as of June 30, 2016, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of June 30, 2015, with the results
rolled forward to June 30, 2016 using standard update procedures. Employer contribution transmittals received
and processed by the DRS for the fiscal year ended June 30 are used as the basis for determining each employer’s
proportionate share of the collective pension amounts reported by the DRS in the Schedules of Employer and
Non‐employer Allocations for all plans except LEOFF Plan 1. LEOFF Plan 1 allocation percentages are based on
the total historical employer contributions to LEOFF Plan 1 from 1971 through 2000 and the retirement benefit
payments in fiscal year 2016. Historical data was obtained from a 2011 study by the office of the State Actuary
(OSA). In the fiscal year 2016, the state of Washington contributed 87.12 percent of LEOFF Plan 1 employer
contributions and all other employers contributed the remaining 12.88 percent of employer contributions.
Liability Asset
PERS Plan 1 14,559,795$ ‐$
PERS Plan 2/3 16,984,627 ‐
PSERS Plan 22 7 , 6 9 1 ‐
LEOFF Plan 1 ‐ (1,055,544)
LEOFF Plan 2 ‐ (2,442,996)
Total 31,572,113$ (3,498,540)$
Liability/(Asset)
LEOFF Plan 2 ‐ employer's proportionate
share (2,442,996)$
LEOFF Plan 2 ‐ State's proportionate share
of the net pension liability/(asset)
associated with the employer (1,592,656)
TOTAL (4,035,652)$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐41
LEOFF Plan 1 is fully funded and no further employer contributions have been required since June 2000. If the
plan becomes underfunded, funding of the remaining liability will require new legislation. The allocation
method the plan chose reflects the projected long‐term contribution effort based on historical data. At June
30, 2016, the City’s proportionate share of the collective net pension liabilities was as follows:
Proportionate Share Proportionate Share Change in
6/30/2015 6/30/2016 Proportion
PERS Plan 1 0.275830% 0.276331% 0.000501%
PERS Plan 2/3 0.345072% 0.343835%‐0.001237%
PSERS Plan 2 0.042991% 0.065158% 0.022167%
LEOFF Plan 1 0.229885% 0.231059% 0.001174%
LEOFF Plan 2 0.954715% 0.947284%‐0.007431%
For the year ended December 31, 2016 the City recognized pension expense as follows:
Pension Expense
PERS Plan 1 867,992$
PERS Plan 2/3 2,349,489
PSERS Plan 2 21,170
LEOFF Plan 1 (307,905)
LEOFF Plan 2 827,177
Total 3,757,923$
At December 31, 2016, the City reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:
Deferred Outflows of Resources PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2T o t a l
Differences between expected and
actual experience ‐$ 904,419$ 9,432$ ‐$ 334,756$ 1,248,607$
Changes of assumptions ‐ 175,550 108 ‐ 9,211 184,869
Net difference between projected
and actual earnings on pension
plan investments 366,593 2,078,428 5,711 107,294 877,866 3,435,892
Changes in proportion and
differences between City
contributions and proportionate
share of contributions ‐ ‐ ‐ ‐ 22,216 22,216
City contributions subsequent to
the measurement date 865,047 1,104,255 8,034 ‐ 348,708 2,326,044
Total 1,231,640$ 4,262,652$ 23,285$ 107,294$ 1,592,757$ 7,217,628$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐42
For PERS Plan 1, $865,047, for PERS Plan 2/3, $1,104,255, for PSERS Plan 2, $8,034, and for LEOFF Plan 2
$348,708, reported as deferred outflows of resources related to contributions resulting from city contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ended December 31, 2017.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized as pension expense as follows:
Deferred Inflows of Resources PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2T o t a l
Differences between expected and
actual experience ‐$ 560,690$ ‐$ ‐$ ‐$ 560,690$
Changes of assumptions ‐ ‐ ‐ ‐ ‐ ‐
Net difference between projected
and actual earnings on pension
plan investments ‐ ‐ ‐ ‐ ‐ ‐
Changes in proportion and
differences between City
contributions and proportionate
share of contributions ‐ 38,293 ‐ ‐ 43,848 82,141
Total ‐$ 598,983$ ‐$ ‐$ 43,848$ 642,831$
Differences Between Projected and Actual Earnings on Plan Investments
Year PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2017 (93,767)$ (260,933)$ (40)$ (83,678)$ (484,543)$
2018 (93,767) (260,933) (40) (83,678) (484,543)
2019 341,397 1,580,871 3,477 175,901 1,178,282
2020 212,730 1,019,423 2,314 98,749 668,670
Total 366,593$ 2,078,428$ 5,711$ 107,294$ 877,866$
The recognition period is a closed, five‐year period for all plans.
Differences Between Expected and Actual Experience
PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
Recognition
Period (Years)1 14 . 2 6 . 81 6
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2017 ‐$ ‐$ (175,216)$ 378,657$ ‐$ 1,882$ ‐$ ‐$ ‐$ 93,183$
2018 ‐ ‐ (175,216) 378,657 ‐ 1,882 ‐ ‐ ‐ 93,183
2019 ‐ ‐ (175,216) 148,194 ‐ 1,882 ‐ ‐ ‐ 93,183
2020 ‐ ‐ (35,042) (1,089) ‐ 1,882 ‐ ‐ ‐ 93,184
2021 ‐ ‐ ‐ ‐ ‐ 1,882 ‐ ‐ ‐ (37,977)
2022 ‐ ‐ ‐ ‐ ‐ 22 ‐ ‐ ‐ ‐
Total ‐$ ‐$ (560,690)$ 904,419$ ‐$ 9,432$ ‐$ ‐$ ‐$ 334,756$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐43
Actuarial assumptions ‐ The total pension liability was determined using the following actuarial assumptions:
Inflation 3.00%
Salary Increases 3.75%
Investment rate of return 7.50%
Mortality rates were based on the RP‐2000 Combined Healthy Table and Combined Disabled Table published by
the Society of Actuaries. The Office of the State Actuary applied offsets to the base table and recognized future
improvements in mortality by projecting the mortality rates using 100 percent Scale BB. Mortality rates are
applied on a generational basis meaning each member is assumed to receive additional mortality improvements
in each future year, throughout his or her lifetime.
The actuarial assumptions used in the June 30, 2015, valuation were based on the results of the 2007‐2012
Experience Study Report. Additional assumptions for subsequent events and law changes are current as of the
2015 actuarial valuation report.
The long‐term expected rate of return on pension plan investments was determined using a building‐block
method in which the Washington State Investment Board (WSIB) used a best estimate of expected future rates
of return (expected returns net of pension plan investment expense but including inflation) to develop each
major asset class. Those expected returns make up one component of WSIB’s Capital Market Assumptions
(CMAs). The CMAs contain the following three pieces of information for each class of assets the WSIB currently
invest in:
Changes of Assumptions
PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
Recognition
Period (Years)1 14 . 2 6 . 81 6
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2017 ‐$ ‐$ ‐$ 56,315$ ‐$ 20$ ‐$ ‐$ ‐$ 2,633$
2018 ‐ ‐ ‐ 56,315 ‐ 20 ‐ ‐ ‐ 2,632
2019 ‐ ‐ ‐ 52,822 ‐ 20 ‐ ‐ ‐ 2,632
2020 ‐ ‐ ‐ 10,098 ‐ 20 ‐ ‐ ‐ 2,632
2021 ‐ ‐ ‐ ‐ ‐ 20 ‐ ‐ ‐ (1,318)
2022 ‐ ‐ ‐ ‐ ‐ 8 ‐ ‐ ‐ ‐
Total ‐$ ‐$ ‐$ 175,550$ ‐$ 108$ ‐$ ‐$ ‐$ 9,211$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
Changes in Proportion and Differences Between City Contributions and Proportionate Share of Contributions
Recognition
Period (Years)1
14 . 2 6 . 81 6
Year (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows (Inflows) Outflows
2017 ‐$ ‐$ (11,967)$ ‐$ ‐$ ‐$ ‐$ ‐$ (8,770)$ 4,443$
2018 ‐ ‐ (11,966) ‐ ‐ ‐ ‐ ‐ (8,770) 4,443
2019 ‐ ‐ (11,967) ‐ ‐ ‐ ‐ ‐ (8,770) 4,443
2020 ‐ ‐ (2,393) ‐ ‐ ‐ ‐ ‐ (8,769) 4,443
2021 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ (8,769) 4,444
‐$ ‐$ (38,293)$ ‐$ ‐$ ‐$ ‐$ ‐$ (43,848)$ 22,216$
The recognition period for each plan is equal to the average of the expected remaining service lives of all employees provided with pensions through the pension
plan, which was determined at the beginning of the measurement period.
PERS Plan 1P E R S Plan 2/3 PSERS Plan 2L E O F F Plan 1L E O F F Plan 2
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐44
Expected annual return
Standard deviation of the annual return
Correlations between the annual returns of each asset class with every other asset class
The WSIB uses the CMAs and their target asset allocation to stimulate future investment returns over various
time horizons.
The long‐term expected rate of return of 7.5 percent approximately equals the median of the simulated
investment returns over a fifty‐year time horizon, adjusted to remove or dampen any short‐term changes to
WSIB’s CMAs that aren’t expected over the entire fifty year measurement period.
Best estimates of arithmetic real rates of return for each major asset class included in the pension plan’s target
asset allocation as of June 30, 2016, are summarized in the following table:
The inflation component used to create the table above is 2.20 percent, and represents WSIB’s most recent
long‐term estimate of broad economic inflation.
Discount Rate ‐ The discount rate used to measure the total pension liability was 7.50 percent for all plans. To
determine the discount rate, an asset sufficiency test included an assumed 7.70 percent long‐term discount rate
to determine funding liabilities for calculating future contribution rate requirements. (All plans use 7.70 percent
except LEOFF Plan 2, which has assumed 7.50 percent.) Consistent with the long‐term expected rate of return,
a 7.50 percent future investment rate of return on invested assets was assumed for the test.
Contributions from plan members and employers are assumed to continue to be made at contractually required
rates (including PERS Plan 2/3, PSERS Plan 2, and SERS Plan2/3 employers, whose rates include a component for
the PERS Plan1 liability). Based on those assumptions, the pension plan’s fiduciary net position was projected
to be available to make all projected future benefit payments of current plan members. Therefore, the long‐
term expected rate of return of 7.50 percent on pension plan investments was applied to determine the total
pension liability.
Sensitivity of the Net Pension Liability/(Asset) to Changes in the Discount Rate ‐ The following presents the City’s
proportionate share of the net pension liability/(asset), calculated using the discount rate of 7.50 percent, as
well as what the net pension liability/(asset) would be if it were calculated using a discount rate that is one
percentage point lower (6.50 percent) or one percentage point higher (8.50 percent) than the current rate.
Asset Class Target Allocation
Lont‐Term Expected
Real Rate of Return
Fixed Income 20.00% 1.70%
Tangible Assets 5.00% 4.40%
Real Estate 15.00% 5.80%
Global Equity 37.00% 6.60%
Private Equity 23.00% 9.60%
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐45
B. Firefighters’ Pension
Plan Description ‐ The Firefighters’ Plan (Plan) is a closed, single‐employer defined benefit pension plan
administered by the City of Renton through the firefighters’ pension board. The plan provides pensions for
firefighters that were employed prior to March 1, 1970, when the LEOFF retirement system was established.
The firefighters’ pension board consists of five members: the Mayor who serves as chair of the board, the
chairperson of the Council Finance Committee, and three members elected by secret ballot of the retired
firefighters for two‐year terms.
Plan Membership – Membership is limited to active members of the Firefighters’ Pension Fund (FPF) as of March
1, 1970. On that date, the Washington Law Enforcement Officers’ and Firefighters’ System (LEOFF) was
established. The plan is closed to new members. At December 31, 2016, FPF membership consisted of the
following:
Benefits Provided ‐ All benefit terms are in statutes RCW 41.16, 41.18, and 41.26. The Firefighters’ Pension Fund
(FPF) provides retirement, disability, and death benefits. Each firefighter in service on March 1, 1970 receives
the greater of the benefit payable under the Washington Law Enforcement Officers’ and Firefighters’
Retirement (LEOFF) System and the benefits available under the provisions of prior law. Where benefits under
the old law exceed those under the new law for any firefighter, the excess benefits are paid from the FPF of the
city employing the member on March 1, 1970.
All members are retired and drawing benefits. Benefit terms provide for cost‐of‐living adjustments to each
member’s retirement benefit. There are two types of increases: escalation by salary in proportion to current
salary of rank from which the firefighter retired or increase proportionate to the increase in the Seattle‐area
consumer price index, with the change computed annually. Regardless of the change in the consumer price
index, benefits are increased at least two percent each year. The former applies to firefighters who retired from
service after 1969, their survivors, and to firefighters who retired from duty disability (but not their survivors)
after 1961. The latter applies to all other types of monthly benefits. Benefits and refunds of the Plan are
recognized when due and payable in accordance with the terms of the Plan. For 2016, $208,231 was paid for
pension benefit payments.
1% Decrease
6.50%
Current
Discount Rate
7.50%
1% Increase
8.50%
PERS Plan 1 17,895,881$ 14,559,795$ 12,210,741$
PERS Plan 2/3 31,874,175$ 16,984,627$ (9,011,802)$
PSERS Plan 2 120,238$ 27,691$ (38,231)$
LEOFF Plan 1 (1,414,155)$ (1,055,544)$ (3,206,637)$
LEOFF Plan 2 15,450,685$ (2,442,996)$ (21,307,723)$
Inactive employees or beneficiaries currently receiving benefits 23
Inactive employees or beneficiaries receiving full retirement through LEOFF 5
Total 28
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐46
Contributions ‐ As long as the FPF provides for benefits to covered members, the City will be eligible to receive
a share of the State’s distribution of the fire insurance premium taxes. The amount the City receives is 25% of
all monies received by the State from taxes on fire insurance premiums. Contributions can also come from taxes
paid pursuant to the provisions of RCW 41.16.060. This statute requires that each municipality levy up to $0.45
(only $0.225 of which can be in excess of the property tax limit pursuant to RCW 84.52.043) per $1,000 of
assessed valuation, based on reports by a qualified actuary, to maintain the fund. 2016 employer contributions
to the Firefighters’ Pension Plan were $148,034.
Investments
Investment Policy – The pension plan’s policy in regard to the allocation of invested assets is established and
may be amended by a majority vote of its members. It is the policy of the FPF board to pursue an investment
strategy that emphasizes prudent and professional standards. The primary investment requirements, in order
of priority, are: safety, compliance, liquidity, and return on investment. The Board has designated daily
operations, internal controls, and investment decisions to the City’s finance director. No significant investment
policy changes were made during the reporting year. Investments are recorded at fair value in accordance with
GASB Statement No. 72, Fair Value Measurement and Application. Accordingly, the change in fair value of
investments is recognized as an increase or decrease to investment assets and investment income.
Rate of Return – For the year ended December 31, 2016, the annual money‐weighted rate of return on pension
plan investments, net of pension plan investment expense, was 1.43%. The money‐weighted rate of return
expresses investment performance, net of investment expense, adjusted for the changing amounts actually
invested.
Concentrations – For the year ended December 31, 2016, 6% of the plan’s fiduciary net position was invested in
certificates of deposit, 7% was invested in FNMA Zero Coupon bonds, and 25% was invested in US Treasury
Strips.
Net Pension Liability/(Asset)
The City’s net pension liability was measured as of December 31, 2016, and the total pension liability used to
calculate the net pension liability/(asset) of $(6,738,308) was determined by an actuarial valuation as of that
date.
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(a) ‐ (b)
Balances at January 1, 2016 3,124,670$ 9,531,202$ (6,406,532)$
Changes for the Year
Interest on total pension liability 105,750 ‐ 105,750
Effect of economic/demographic gains or losses (28,709) ‐ (28,709)
Effect of assumptions chages or inputs (125,138) ‐ (125,138)
Benefit payments (208,231) (208,231) ‐
Contributions from state fire insurance premium tax ‐ 148,034 (148,034)
Net investment income ‐ 136,071 (136,071)
Administrative expenses ‐ (426) 426
Net Changes (256,328) 75,448 (331,776)
Balances at December 31,2016 2,868,342$ 9,606,650$ (6,738,308)$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐47
Actuarial Assumptions ‐ The total pension liability was determined by an actuarial valuation as of December 31,
2016, using the following actuarial assumptions.
Inflation 2.25%
Salary increases 2.50% for 2018 and 3.25% thereafter
Investment rate of return 3.75%
Actuarial cost method Entry age normal
Mortality rates were based on the RP‐2000 Mortality Table (combined healthy) with generational projection
using 100% of Projection Scale BB, with ages set back one year for males and forward one year for females (set
forward two years for disabled members).
The long‐term expected rate of return on pension plan investments was determined using a building‐block
method in which best estimate ranges of expected future real rates of return (expected returns, net of
pension plan investment expense and inflation) are developed. We used the weighted expected returns of
the City’s portfolio of cash, US Treasuries (to be held to maturity), and receivables to develop the long‐term
expected rate of return.
The best‐estimate range for the long‐term expected rate of return for each major asset class included in the
pension plan’s target asset allocation as of December 31, 2016, are summarized in the following table:
Discount Rate ‐ The discount rate used to measure the total pension liability was 3.75 %. The projection of cash
flows used to determine the discount rate assumed City contributions were equal to revenue received from Fire
Insurance premiums and the amount received would increase at the inflation rate of 2.25%. Based on this
assumption, the pension plan’s fiduciary net position was projected to be available to make all projected future
benefit payment of current plan members. Therefore, the long‐term expected rate of return on pension plan
investments was applied to all periods of projected benefit payments to determine the total pension liability.
Asset Class Index
Long‐Term Expected Real
Rate of Return
Cash Citigroup 90‐Day T‐Bills 0.50%
Short‐Term Bonds Barclays 1‐3 Year Gov/Cred 1.41%
Long‐Term Bonds Barclays Long Gov/Cred 2.97%
Assumed Inflation ‐ Mean 2.25%
Long‐Term Expected Rate of Return 3.75%
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐48
Sensitivity of the Net Pension Liability to Changes in the Discount Rate ‐ The following presents the net pension
liability of the City, calculated using the discount rate of 3.75%, as well as what the City’s net pension liability
would be if it were calculated using a discount rate that is one percentage point lower (2.75%), or one
percentage point higher (4.75%), that the current rate.
1% Decrease
2.75%
Current
Discount Rate
3.75%
1% Increase
4.75%
Total Pension Liability 3,109,560$ 2,868,342$ 2,657,386$
Fiduciary Net Position 9,606,650 9,606,650 9,606,650
Net Pension Liability (6,497,090) (6,738,308) (6,949,264)
Pension Expense and Deferred Outflows or Resources and Deferred Inflows of Resources Related to Pensions
The Firefighters’ Pension Plan is currently overfunded. Changes in the net pension asset and deferred outflows
resulted in a reduction of City pension expense in the amount of $449,720.
As of December 31, 2016, the deferred inflows and outflows of resources are as follows:
Deferred Inflows of
Resources
Deferred Outflows
of Resources
Differences between expected and actual experience ‐$ ‐$
Changes of assumptions ‐ ‐
Net difference between projected and actual earnings
on pension plan investments ‐ 274,870
Changes in proportion ‐ ‐
Contributions subsequent to the measurement date ‐ ‐
Total ‐$ 274,870$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will
be recognized in pension expense as follows:
Year ended December 31 Amount
2017 78,525$
2018 78,525
2019 78,527
2020 39,293
2021 ‐
Thereafter*‐
274,870$
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐49
NOTE 7. OTHER POST EMPLOYMENT BENEFITS
Plan Description
In accordance with the Revised Code of Washington (RCW) 41.26, the City administers a single‐employer defined
benefit healthcare plan (the Health Plan) for law enforcement officers and fire fighters employed prior to
October 1, 1977. The Health Plan provides medical, prescription drug, dental, Medicare Part B premiums, long‐
term care, and vision expenses for LEOFF Plan 1 retirees. Dependent spouses and children are not covered.
Prior to 2008, the costs of the Health Plan were provided solely on a pay‐as‐you‐go basis. Beginning in 2008,
the City accounts for its other postemployment benefits (OPEB) expenses related to the Health Plan based on a
computed annual required contribution (ARC) that includes the current period’s service cost and an amount to
amortize unfunded actuarial accrued liabilities. The City maintains a standalone internal service fund, LEOFF 1
Retirees Healthcare Fund. As of December 31, 2016, the City has a balance of $9,987,683 in the LEOFF 1 Retirees
Healthcare Fund. Although this amount is reported as unrestricted net position in the financial statements, the
City intends to use the balance to fund a portion of the UAAL.
The Health Plan’s actuary is Milliman, Inc. The report may be obtained by contacting the City of Renton, Finance
Division, 1055 South Grady Way, Renton, WA 98057. The Health Plan does not issue a separate standalone
financial report.
Funding Policy
Funding for LEOFF 1 retiree healthcare costs is provided entirely by the City as required by the Revised Code of
Washington (RCW) 41.26. The City does not require retiree contributions. For the fiscal year ended December
31, 2016, the City contributed $ 1,126,907 to the Health Plan.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐50
Annual OPEB Cost and Net OPEB Obligation
The basis for the City’s annual other postemployment benefit (OPEB) cost (expense) is the annual required
contribution (ARC). The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover
the normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a period
not to exceed thirty years. The following displays the components of the City’s annual OPEB cost, the amount
contributed to the Health Plan, and changes in the City’s net OPEB obligation to the Health Plan.
Annual Required Contribution and Net OPEB Obligation for years ended December 31, are as follows:
City’s net OPEB obligation increased by $1,398,814 in year the year ending December 31, 2016. The entire net
OPEB obligation of $8,238,640 is included as a noncurrent liability in the governmental activities column on
government‐wide statement of net position.
The City’s annual OPEB cost, the percentage of annual OPEB cost contributed to the Health Plan, and the net
OPEB obligation for 2016 and the two preceding years were as follows:
Annual Required Contribution (ARC) and Net OPEB Obligation
Fiscal Year Ending
12/31/2014 12/31/2015 12/31/2016
Annual required contribution (ARC)
1.Annual Normal Cost ‐$ 27,929$ 27,929$
2.Amortization of UAAL 2,009,362 2,616,797 2,616,797
3.Interest to EOY ‐ 92,565 92,565
4.ARC at end of year [1+2+3] 2,009,362 2,737,291 2,737,291
5.Interest on Net OPEB Obligation 68,843 187,022 239,394
6.Adjustment to ARC (229,130) (342,083) (450,964)
7.Annual OPEB cost [4+5+6] 1,849,075 2,582,230 2,525,721
8.Employer Contributions 1,095,159 1,085,885 1,126,907
9.Change in Net OPEB Obligation [7‐8] 753,916 1,496,345 1,398,814
10.Net OPEB Obligation at Beginning of Year 4,589,565 5,343,481 6,839,826
11.Net OPEB Obligation at End of Year [9+10] 5,343,481$ 6,839,826$ 8,238,640$
Year
Annual
OPEB Cost
Employer
Contribution
Percentage of
OPEB Cost
Contributed
Net OPEB
Obligation
2014 $ 1,849,075 $ 1,095,159 59%$ 5,343,481
2015 2,582,230 1,085,885 42% 6,839,826
2016 2,525,721 1,126,907 45% 8,238,640
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐51
Funded Status and Funding Progress
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability
of occurrence of events far into the future. Actuarially determined amounts regarding the funded status of the
plan and the annual required contributions of the employer are subject to continual revision as actual results
are compared with past expectations and new estimates are made about the future.
The funded status of the Health Plan as of January 1, 2015 (expressed in thousands):
Actuarial accrued liability (AAL) ‐ Unit Credit 42,306$
Actuarial value of plan assets ‐
Unfunded actuarial accrued liability (UAAL) 42,306$
Funded ratio (actuarial value of plan assets ÷ AAL) 0.0%
Covered payroll 110
UAAL as a percentage of covered payroll 38460.00%
The schedule of funding progress, presented as required supplementary information following the notes to the
financial statements, presents multi‐year trend information that shows whether the actuarial value of Health
Plan assets is increasing or decreasing over time relative to the actuarial liabilities for benefits.
Actuarial Methods and Assumptions
An actuarial valuation was completed as of January 1, 2015. Projections of benefits for financial reporting
purposes are based on the substantive plan (the plan as understood by the employer and plan members) and
include the types of benefits provided at the time of each valuation. The actuarial methods and assumptions
used include techniques that are designed to reduce the effects of short‐term volatility in actuarial accrued
liabilities and the actuarial value of assets, consistent with the long‐term perspective of the calculations.
The December 31, 2014 valuation used the projected unit credit actuarial cost methods. The actuarial
assumptions included a 1.5% investment rate of return (net of administrative expenses) and an initial annual
healthcare cost trend rate of 10.0% for pre‐Medicare expenses, to an ultimate rate of 4.2% after 72 years. The
Medicare trend assumption is 6.5%, to an ultimate rate of 4.2% after 8 years. The dental trend assumption is
5.5%, to an ultimate rate of 4.0% after 4 years. The Medicare premium trend rate is 8.5% for all years, except
for the first year, which has a 0% trend rate. The long‐term care trend rate is 5.0% for all years. The trend for
the Excise Tax threshold is 0% until 2018, when a trend rate of 4.24% is used. The trend for all future years is
3.24%. All trend rates include a 3.0% inflation assumption. The UAAL at transition is being amortized as a level
dollar amount on a closed basis. The remaining amortization period at December 31, 2013 was 24.0 years. The
UAAL is recalculated each year and amortized as a level dollar amount over 25 years for 2013.
NOTE 8. CONTINGENCIES
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not determinable at this
time, it is the opinion of City’s legal counsel, that the resolution of these matters will not have a material adverse
effect on the financial condition of the City and that the City’s insurance policies and/or self‐insurance reserves
are adequate to pay all known or pending claims.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐52
The City participates in a number of federal and state assisted programs. These grants are subject to program
compliance audits by the Single Audit Act. Such audits could result in reimbursement to grantor agencies for
expenditures disallowed under the terms of the grants. The amount of expenditure that may be disallowed, if
any, cannot be determined at this time and the City’s management believes that any such disallowances, if any,
will be immaterial.
NOTE 9. RISK MANAGEMENT
The City of Renton is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The City of Renton protects itself
against unforeseen losses by utilizing a three‐pronged risk management approach. First, the City self‐funds first
level losses through its Insurance Fund. Second, insurance and excess insurance is purchased to cover medium
and large losses. Third, the City reserves the right to utilize the provisions of Chapter 35A.31.060 RCW to fund
catastrophic or uninsured losses. This State statute allows cities to levy a non‐voted property tax increase to
pay for uninsured claims. There were no settlements in excess of the insurance coverage in any of the three
prior fiscal years.
Effective January 1, 2016, the City of Renton was no longer a member of the Washington Cities Insurance
Authority (WCIA) and became self‐insured for its liability and property exposures. Withdrawal from WCIA
provided the City of Renton with an opportunity for increased savings in the future and provides the ability to
control the cost of all types of claims, including liability, property, and automobile.
The risk management internal service fund is funded by charges to the City of Renton’s other funds and is based
primarily upon the contributing funds’ claims experience. Liabilities of the fund are reported when it is probable
that a loss has occurred and the amount of the loss can be reasonably estimated. Liabilities include an amount
for claims that have been incurred but not reported (IBNRs). The result of the process to estimate the claims
liability is not an exact amount as it depends on many complex factors, such as, inflation, changes in legal
doctrines, and damage awards. Accordingly, claims are reevaluated periodically to consider the effects of
inflation, recent claim settlement trends (including frequency and amount of pay‐outs), and other economic
and social factors. The estimate of the claims liability also includes amounts for incremental claim adjustment
expenses related to specific claims and other claim adjustment expense regardless of whether allocated to
specific claims. Estimated recoveries, for example from salvage or subrogation, are another component of the
claims liability estimate.
The City's Risk Management Program is administered under the authority of the Human Resources and Risk
Management Administrator, with claims being processed by the carriers shown below.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐53
An analysis of the insurance deductibles and self‐insured retention levels, limits of insurance, and carriers for the major
types of coverage are as follows:
As of December 31, 2016, the City had accrued the following amounts for outstanding claims:
Type of Coverage
Risk
Retention
Occurrence Aggregate Amount Carrier
Property –
Expires 07/01/2017
$50,000 $400,000,000 (per
occurrence subject to
annual aggregate &
sub‐limits)
Alliant Property
Insurance
Program (APIP)
Cyber Liability –
Expires 07/01/2017
$50,000 $25,000,000 APIP
Liability –
Expires 01/01/2017
$250,000 $20,000,000
(per occurrence)
Argonaut/Great
American
Auto Physical Damage –
Expires 07/01/2017
$25,000
ACV or Replacement
Cost; per Occurrence
APIP
Equipment Breakdown –
Expires 07/01/2017
$10,000* $100,000,000 APIP
Employee Fidelity/Crime –
Expires 07/01/2017
$10,000 $2,500,000 National Union
Fire
Airport Liability –
Expires 01/01/2017
$0 $100,000,000 National Union
Fire
Underground Storage Tank –
Expires 01/01/2017
$2,500 $1,000,000 Great American
Excess Workers’ Comp –
Expires 01/01/2017
$500,000 Statutory Safety National
Excess Employee Health –
Expires 01/01/2017
$200,000 N/A SunLife
* There is a 4‐hour utility interruption clause, prior to the deductible becoming applicable.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐54
NOTE 10. INTERFUND TRANSACTIONS
A. INTERFUND TRANSFERS
The following is the composition of interfund transfers for the year ended December 31, 2016:
During the year, transfers are used to (1) move revenue from the fund with collection authority to the debt
service fund as debt service principal and interest become due, (2) to segregate money for anticipated capital
projects, and (3) move general fund sources into funds identified by the city‐wide stabilization policy.
All transfers either occur on a regular basis or are consistent with the purpose of the fund making the transfer.
Transfers that occur within the governmental funds are eliminated on the government‐wide statement of
activities.
2016
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 1,085,963$ 1,037,911$ 1,740,000$ 3,863,874$
Current year and changes in estimates* (380,329) 2,057,978 10,877,626 12,555,275
Claims payments (630,239) (1,826,569) (11,401,426) (13,858,234)
IBNR claims at end of the year* 75,395$ 1,269,320$ 1,216,200$ 2,560,915$
*The decline in Property & Liability ending IBNR is due to the City no longer being a member of
WCIA and therefore claims are settled at a faster rate. Also, the City settled a number of claims
that were outstanding in 2016.
2015
Property &
Liability
Workers'
Compensation
Employee
Health Totals
IBNR claims at beginning of the year 549,549$ 846,897$ 1,745,900$ 3,142,346$
Current year and changes in estimates 2,666,774 1,613,559 12,042,340 16,322,673
Claims payments (2,130,360) (1,422,545) (12,048,240) (15,601,145)
IBNR claims at end of the year 1,085,963$ 1,037,911$ 1,740,000$ 3,863,874$
General
Capital
Improvement
Other
Governmental
Internal Service
Funds
Waterworks
Utility Total
Transfer Out:
Governmental Funds
General ‐ 3,710,000 2,282,924 224,832 3,654 6,221,410
Other Governmental 36,079 760,660 ‐ ‐ ‐ 796,739
Municipal Facilities CIP ‐ ‐ 16,769 ‐ ‐ 16,769
Enterprise Fund
Waterworks Utility ‐ ‐ ‐ 95,071 ‐ 95,071
Airport ‐ 47,500 ‐ 35,000 1,000 83,500
Internal Service Fund
Insurance 1,939,876 13,275 ‐ ‐ ‐ 1,953,151
Total 1,975,955 4,531,435 2,299,693 354,903 4,654 9,166,640
Governmental Funds
Transfer In:
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐55
In addition, the City made the following one‐time transfers during the year ending December 31, 2016:
1. A $1.8 million transfer from the Insurance Internal Service Fund to the General Fund to move excess reserves
accumulated since 2014.
2. $2.1 million transfer from the General Fund to the Municipal Facilities Fund to support general government
parks and facilities capital projects.
3. $650 thousand transfer from Arterial Streets Fund to the Capital Improvement Fund to fund street overlay
project.
4. $600 thousand transfer from the Fire Impact Mitigation Fund to the Capital Improvement Fund to fund the
design for the new fire station 15.
5. $3.7 million transfer from the General Fund to the Capital Improvement Fund to fund the Sunset Land
Project.
B. INTERFUND RECEIVABLES AND PAYABLES
The composition of interfund receivables/ payables as of December 31, 2016 is as follows:
Due from/to:
The outstanding balances between funds result from the time lag between the dates that transactions are
recorded in the accounting system.
Advances from/to:
The amount payable from the Leased Facilities Fund was also a working capital loan to help ensure tenant
improvement costs at the City’s 200 Mill building could continue. The repayment of the loan will be funded
with the future lease revenue from the tenant.
NOTE 11. LONG TERM DEBT
General Obligation Bonds
General obligation bonds are direct obligations of the City for which its full faith and credit are pledged. Debt
service for voter‐approved bonds, which the City has none, would be funded by special property tax levies. Debt
service for City Council authorized bonds (councilmatic bonds) is funded from regular property taxes or general
revenues, and is generally paid from debt service funds.
Receivable Fund Payable Fund Amount
Other Governmental General 1,027,792$
Capital Improvement Waterworks Utility 12,594
General Fund Waterworks Utility 9,487
Total 1,049,873$
Receivable Fund Payable Fund Amount
Due Within
One Year
Internal Service ‐ Insurance Fund Leased Facilities 700,000 175,000
Total 700,000$ 175,000$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐56
General Obligation Bonds outstanding at year‐end are as follows:
2006 Limited Tax General Obligation bonds which provided funding for the construction of South Lake
Washington infrastructure improvements.
2010 Limited Tax General Obligation refunding bonds which refunded a portion of the 2001 limited tax
general obligation bonds for the construction of a downtown parking facility.
2011 Limited Tax General Obligation bonds which funded the development and construction of 2 new
libraries.
2011 Limited Tax General Obligation refunding bonds which refunded a portion of the 2001 limited tax
general obligation bonds which refunded a portion of the 1997 Limited Tax General Obligation bonds for the
purchase of Renton City Hall.
2013 Limited Tax General Obligation qualified energy conservation bonds (QECB) which provided funding
for streetlight improvements.
2015 (A & B) Limited Tax General Obligation refunding bonds refunded a portion of the 2006 limited tax
general obligation bonds for the construction of South Lake Washington infrastructure improvements.
Other intergovernmental debt, backed by the full faith and credit of the City:
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of the Benson Hill
annexation.
2009 intergovernmental debt related to acquisition, construction, and equipping of the SCORE facility.
Pursuant to an interlocal agreement, the City is obligated to pay 36 percent of the debt service on the SCORE
bonds.
Revenue Bonds
Revenue bonds are payable from water, sewer, and storm revenues generated from the charges for service
revenues in those funds.
Revenue Bonds outstanding at year‐end are as follows:
2007 Water/Sewer Revenue Bonds (Ordinance #5313) has an average interest rate is 4.22%. These bonds
were issued for the purpose of financing the costs of carrying out certain capital improvements of
waterworks utility.
2007 Water/Sewer Revenue Refunding Bonds (02) (Ordinance #5313) has an average interest rate is 4.15%.
These bonds were issued for the purpose of refunding certain outstanding water and sewer revenue bonds
of the City.
2008 (A) Water/Sewer Revenue Bond (Exempt) (Ordinance #5313) were issued in the amount of $9,975,000
and dated January 1, 2008. The average interest rate is 4.17%. These bonds were issued for the purpose of
providing money to pay part of the cost of construction and acquisition of certain improvements to the
waterworks utility.
2008 (B) Water/Sewer Revenue Bond (Taxable) (Ordinance #5313) were issued in the amount of $2,035,000
and dated January 1, 2008. The average interest rate is 4.17%. These bonds were issued for the purpose of
providing money to pay part of the cost of construction and acquisition of certain improvements to the
waterworks utility.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐57
2012 Water/Sewer Revenue Refunding Bonds (Ordinance #5672) were issued in the amount of $9,190,000
and dated December 7, 2012. The average interest rate is 2.5%. These bonds were issued for the purpose
of refunding a portion of the 2004 Water/Sewer Revenue Bonds.
2016 Water/Sewer Revenue Refunding Bonds (2008A) (Ordinance #5812) were issued in the amount of
$9,385,000 and dated October 20, 2016. The average interest rate is 1.73%. These bonds were issued for
the purpose of refunding a portion of the 2008 (A) Water/Sewer Revenue Bonds (Exempt).
State of Washington Public Works Trust Fund Loans (PWTFL)
PWTFL are the direct responsibility of the City. At year‐end the City has four outstanding loans, with a remaining
balance of $2,639,258. All of the remaining loans are for water capital improvements. Remaining loans are
repaid from water system revenues.
PWTFL outstanding at year‐end are as follows:
Corrosion Control Treatment Facilities loan was for construction of a building on City property in Cedar River
Park between well PW‐8 and well PW‐9 to store and pump chemicals for treating the water from wells RW.
Maplewood Water Treatment Improvement loan was to fund the costs to eliminate quality problems in
water from the Maplewood wellfield wells.
CT Pipeline for Wells RW‐1, RW‐2 and RW‐3 loan is to construct the CT detention pipeline for wells RW‐1,
RW‐2 and RW‐3 at Liberty Park.
Maplewood Drinking Water Treatment Improvement loan is to construct the drinking water treatment
improvements at Maplewood.
Compensated Absences
Compensated absences are paid by those funds that have employees. These are mostly payable from the
General Fund and Waterworks Utility Fund.
Capital Leases
The City leases certain machinery and equipment. These lease payments are payable from the Equipment
Rental Fund.
The following schedules summarize the long‐term liability transactions of the City for the year ended December
31, 2016. The first table reflects total annual debt service requirements to maturity, while the second table
provides detailed information on all long‐term liabilities.
Year Principal Interest Principal Interest
2017 5,479,072 2,521,906 2,165,175 765,472
2018 5,311,675 2,319,384 2,405,818 686,346
2019 5,476,547 2,154,485 2,545,818 618,540
2020 5,688,322 1,943,374 2,610,818 548,359
2021 5,922,558 1,703,151 2,680,818 476,990
2022‐2026 14,472,200 6,055,609 13,580,812 1,331,041
2027‐2031 9,986,136 3,483,090 2,740,000 68,421
2032‐2036 7,867,800 1,826,423 ‐ ‐
2037‐2041 3,641,400 236,556 ‐ ‐
Totals 63,845,711 22,243,978 28,729,258 4,495,168
Governmental Activities Business ‐Type Activities
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐58
Issue Name Interest Rates Maturity Date
Original Issue
Amount
Beginning
Balance
01/01/2016 Additions Deductions
Ending Balance
12/31/2016
Due Within
One Year
GOVERNMENTAL‐TYPE DEBT:
Limited General Obligation Bonds:
2006 GO Bonds 4.25%‐5.00% 12/1/2028 $ 17,980,000 750,000$ ‐$ 750,000$ ‐$ ‐$
2010 GO Refunding Bonds 3.00%‐4.50% 12/1/2021 6,170,000 6,000,000 ‐ 10,000 5,990,000 10,000
2011 GO Library Bonds 2.00%‐5.00% 12/1/2022 16,715,000 10,955,000 ‐ 1,540,000 9,415,000 1,595,000
2011 GO Refunding Bonds 2.00%‐5.00% 12/1/2017 9,425,000 3,270,000 ‐ 1,605,000 1,665,000 1,665,000
2013 GO QECB 3.22% 7/1/2028 3,200,000 2,780,000 ‐ 210,000 2,570,000 210,000
2015 (A) GO S LK WA Infr Refunding (BQ) 3.00%‐4.00% 12/1/2028 8,825,000 8,825,000 ‐ ‐ 8,825,000 ‐
2015 (B) GO S LK WA Infr Refunding (Tax) 0.50%‐2.07% 12/1/2020 3,695,000 3,365,000 ‐ 100,000 3,265,000 865,000
Unamortized (discount)/premium/refunding 1,454,331 ‐ 316,961 1,137,371 ‐
66,010,000 37,399,331 ‐ 4,531,961 32,867,371 4,345,000
2009 FD 40 Loan for acquisition of FS13 3.75% 9/1/2028 6,798,085 5,009,728 ‐ 315,216 4,694,511 327,672
2009 (A) SCORE Tax Exempt 4.00%‐5.00% 1/1/2022 2,953,800 1,764,000 ‐ 772,200 991,800 ‐
2009 (B) SCORE BABS 3.00%‐6.62% 1/1/2039 28,090,800 26,429,400 ‐ ‐ 26,429,400 806,400
Total Intergovernmental Debt 37,842,685 33,203,128 ‐ 1,087,416 32,115,711 1,134,072
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 5,768,510 940,894 3,288,051 3,421,353 1,758,815
Other Post Employment Benefits (OPEB) 6,839,826 2,525,721 1,126,907 8,238,640 ‐
Net Pension Liability 21,079,845 6,916,905 3,285,895 24,710,856 ‐
Capital Leases 3.33% 12/1/2019 169,245 137,609 ‐ 32,706 104,903 33,812
Total Other Long‐Term Liabilities 169,245 33,825,790 10,383,520 7,733,558 36,475,752 1,792,627
$ 104,021,930 104,428,249$ 10,383,520$ 13,352,935$ 101,458,834$ 7,271,699$
BUSINESS‐TYPE DEBT:
Revenue Bonds :
2007 Water/Sewer 4.00%‐5.00% 12/1/2022 1,430,000 1,240,000 ‐ 95,000 1,145,000 105,000
2007 Water/Sewer Refunding (02) 4.00%‐5.00% 12/1/2022 8,320,000 6,755,000 ‐ 780,000 5,975,000 825,000
2008 Water/Sewer (a) 4.17% 12/1/2027 9,975,000 9,975,000 ‐ 9,280,000 695,000 695,000
2008 Water/Sewer (b) 4.17% 12/1/2016 2,035,000 195,000 ‐ 195,000 ‐ ‐
2012 Water/Sewer Refunding 2.00%‐3.00% 12/1/2027 9,190,000 9,080,000 ‐ 35,000 9,045,000 35,000
2016 Water/Sewer Refunding (2008A) 1.73% 12/1/2027 9,385,000 ‐ 9,385,000 155,000 9,230,000 110,000
Unamortized (discount)/premium/refunding (69,217) (493,337) (20,064) (542,489) ‐
Total Revenue Bonds 40,335,000 27,175,783 8,891,663 10,519,936 25,547,511 1,770,000
Public Works Trust Fund Loans:
East Kennydale Interceptor 2.00% 7/1/2016 2,093,740 116,858 ‐ 116,858 ‐ ‐
Honeycreek Interceptor 2.00% 7/1/2016 1,840,568 96,872 ‐ 96,872 ‐ ‐
Corrosion Control Treatment Facilities 1.00% 7/1/2017 1,106,000 98,714 ‐ 49,357 49,357 49,358
Maplewood Water Treatment Improvement 0.50% 7/1/2021 567,831 181,806 ‐ 30,301 151,505 30,301
Construct CT Pipeline for Wells 0.50% 7/1/2022 814,527 300,089 ‐ 42,870 257,219 42,870
Maplewood Water Treatment Improvement 0.50% 7/1/2024 5,150,000 2,453,824 ‐ 272,647 2,181,177 272,647
11,572,666 3,248,163 ‐ 608,904 2,639,258 395,176
Other Long‐Term Liabilities:
Employee Leave Benefits ‐ Compensated Absences 667,314 107,395 97,446 677,263 331,274
Net Pension Liability 5,686,094 1,933,159 757,995 6,861,257 ‐
Total Other Long‐Term Liabilities 6,353,408 2,040,554 855,441 7,538,520 331,274
$ 51,907,666 36,777,354$ 10,932,217$ 11,984,281$ 35,725,289$ 2,496,450$
$ 155,929,596 $ 141,205,603 $ 21,315,737 $ 25,337,216 $ 137,184,124 $ 9,768,149
Schedule of Changes of Long‐Term Debt
TOTAL ALL FUNDS
TOTAL BUSINESS‐TYPE DEBT
TOTAL GOVERNMENTAL‐TYPE DEBT
Total Public Works Trust Fund Loans
Total General Obligation Bonds
Other Intergovernmental ‐ Backed by full faith and credit of the City:
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐59
Debt Limit Capacity
State law provides that debt cannot be incurred in excess of the following percentages of the value of the taxable
property of the City: 1.5 percent without a vote of the people provided the indebtedness with a vote is 1 percent
or less; 2.5 percent with a vote of the people; 5.0 percent with a vote of the people, provided the indebtedness
in excess of 2.5 percent is for utilities; and 7.5 percent with a vote of the people provided the indebtedness in
excess of 5.0 percent is for open space development and parks facilities. Table 16 in the Statistical Section shows
the computation of legal debt margin for general and special purpose capacities for the City of Renton.
Estimated Arbitrage Rebate
The City engages an outside agency to calculate its’ arbitrage rebate liability on outstanding tax‐exempt bonds
and certificates of participation under Section 148(f) of the Internal Revenue Code. No additional rebate was
found due for any revenue or general obligation bonds for 2016.
Issued/Refunded Debt
On October 20, 2016 the City issued $9,385,000 in 2016 Sewer Revenue Refunding Bonds (2008A) with an
average interest of 1.73%, to partially refund $8,800,000 of outstanding 2008 (A) Water/Sewer Revenue Bonds
(Exempt). The net proceeds were used to purchase U.S. government securities which were deposited with an
escrow agent to provide for all future debt service payments on the refunded bonds. As a result, this portion of
the original bond is considered defeased. The refunding resulted in a reduction in the aggregate debt service
payment of $1,111,509 and a present value gain of $1,008,937.
Prior Year Defeasance of Debt
In prior years the City defeased certain bond issues by placing the proceeds of new bonds in an irrevocable trust
to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the
liability for the defeased bonds are not included in the City’s financial statements. The schedule of assets,
liabilities, and net assets of the City’s escrow account as of December 31, 2016 is provided in the following table.
US Bank Corporate Trust
(2016 W/S Revenue Refunding Bonds)
Assets
Cash with Trustee 2$
Investments with Trustee 9,293,335
Estimated Interest Receivable ‐
Total Assets 9,293,337
Liabilities
Refunded Bonds Payable 9,293,335
Total Liabilities 9,293,335
Net Assets
Earnings with Trustee 2
Total Net Assets 2$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐60
NOTE 12. JOINT VENTURES
A joint venture is a legal entity or other organization that results from a contractual agreement and that is
owned, operated, or governed by two or more participants as a separate and specific activity subject to joint
control in which the participants retain (a) an on‐going financial interest or (b) an on‐going financial
responsibility. The City participates in two joint ventures, both of which are sanctioned by the provisions and
terms of the Interlocal Cooperation Act pursuant to Chapter 39.34 RCW.
VALLEY COMMUNICATIONS CENTER
The Valley Communications Center (Valley Com) was established August 20, 1976, when an Interlocal
Agreement was entered into by four original participating municipal corporations, including the cities of Renton,
Kent, Auburn, and Tukwila. Federal Way was formally admitted in 2000. The initial duration of the agreement
was five years, and thereafter is automatically extended for consecutive five‐year periods.
The purpose of the joint operation, hereafter referred to as Valley Com, is to provide improved consolidated
emergency communications (dispatch) services for police, fire, and medical aid, to the five participating cities
and to several subscribing agencies that include: King County Fire Districts 2, 17 (Black Diamond), 20, 26, 40,
43, 44, 47; City of Pacific Police and Fire Departments; City of Black Diamond Police Department; City of Des
Moines Police Department; SeaTac Fire Department; North Highline Fire Department; King County EMS Units;
and Vashon Island Fire Department. Separate agreements between Valley Com and the subscribing agencies
have been executed, which set forth conditions of services and rates charged.
The City made payments totaling $2,473,309 to support Valley Com’s operating costs during the year ended
December 31, 2016.
The City reports its share of equity interest in the Governmental Activities column within the Government‐wide
financial statements under non‐current assets – investments in joint ventures. The following is condensed
financial information as of December 31, 2016 related to Valley Communications Center:
Member City Percent of Equity
2015 Equity
Balance 2016 Distribution
2016 Equity
Balance
Auburn 21.22% 3,853,229$ 651,598$ 4,504,828$
Federal Way 16.42% 2,858,305 626,262 3,484,568
Kent 29.75% 5,538,892 775,712 6,314,604
Renton 21.35% 3,944,879 586,665 4,531,544
Tukwila 11.27% 2,139,261 252,610 2,391,872
Grand Totals 100.00% 18,334,567$ 2,892,848$ 21,227,415$
Valley Communications Center
2016 Owner Cities Equity Allocation
Completed Financial Statements for Valley Com can be obtained from the Valley Communications Center, 23807
– 98th Avenue South, Kent, WA 98031.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐61
SOUTH CORRECTIONAL ENTITY (SCORE)
The South Correctional Entity (SCORE), a consolidated correctional facility, was established February 25, 2009,
when an interlocal agreement was entered into by seven participating municipal governments (“owner cities”)
of Auburn, Burien, Des Moines, Federal Way, Renton, SeaTac and Tukwila. This agreement was amended and
restated October 1, 2009 and named the City of Des Moines as the “host city”. Pursuant to a separate “Host City
Agreement” dated October 1, 2009, the host city will not enjoy the same equity position as the original owner
cities until all debts issued are paid and the host city fulfills all of its obligations as outlined in the Agreement.
The purpose of the interlocal operation, SCORE, is to serve the Member Cities and Subscribing Agencies which
are in need of correctional facilities. SCORE provides correctional services and functions incidental thereto, for
the purpose of detaining arrestees and sentenced offenders in the furtherance of public safety and emergencies
within the jurisdiction of the Member Cities. Separate agreements between SCORE and subscribing agencies
have been executed, which set forth conditions of services and rates charged.
Financing for the acquisition, construction, equipping, and improvement of the SCORE Facility was provided by
bonds issued by the South Correctional Entity Facility Public Development Authority (the “SCORE PDA”), a public
development authority chartered by the City of Renton pursuant to RCW 35.21.730 through 35.21.755 and
secured by the full faith and credit of the Cities of Auburn, Burien, Federal Way, Renton, SeaTac, and Tukwila
(the owner cities). The SCORE PDA issued $86 million in special obligation bonds in 2009 to carry out the facility
development project.
The following is a summary of the debt service requirements, for each owner city:
Auburn Burien Federal Way Renton SeaTac Tukwila
Year 31% 4% 18% 36% 3% 8%
2017 1,690,854 218,175 981,786 1,963,572 163,631 436,349
2018 1,688,234 217,837 980,265 1,960,530 163,377 435,673
2019 1,685,985 217,546 978,959 1,957,918 163,160 435,093
2020 1,684,516 217,357 978,106 1,956,212 163,018 434,714
2021 1,683,774 217,261 977,675 1,955,350 162,946 434,522
2022‐2026 8,226,282 1,061,456 4,776,551 9,553,102 796,092 2,122,912
2027‐2031 8,179,888 1,055,469 4,749,612 9,499,224 791,602 2,110,939
2032‐2036 8,133,270 1,049,454 4,722,544 9,445,087 787,091 2,098,908
2037‐2039 4,856,017 626,583 2,819,623 5,639,246 469,937 1,253,166
Totals 37,828,820$ 4,881,138$ 21,965,121$ 43,930,241$ 3,660,854$ 9,762,276$
Debt Service Allocation to Owner Cities
The City of Renton made payments totaling $4,703,639 to support SCORE’s operating costs during the year
ended December 31, 2016.
The City reports its share of equity interest in the Governmental Activities column within the Government‐wide
financial statements under non‐current assets – investments in joint ventures. The following is condensed
financial information as of December 31, 2016 related to SCORE:
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐62
Member City Percent of Equity
2015 Equity
Balance 2016 Distribution
2016 Equity
Balance
Auburn 31.00% 3,331,777$ (216,443)$ 3,115,334$
Burien 3.00% 376,841 (52,239) 324,602
Des Moines 2.00% 197,267 (30,684) 166,583
Federal Way 23.00% 2,620,575 (328,310) 2,292,265
Renton 30.00% 3,222,670 (281,167) 2,941,503
SeaTac 4.00% 498,467 (64,438) 434,029
Tukwila 7.00% 788,541 (85,218) 703,323
Grand Totals 100.00% 11,036,138$ (1,058,499)$ 9,977,639$
South Correctional Entity (SCORE)
2016 Owner Cities Equity Allocation
Completed financial statements for SCORE and SCORE PDA can be obtained at SCORE, 20817 17th Avenue South,
Des Moines, WA 98198.
NOTE 13. AIRPORT LEASES
The majority of the Municipal Airport’s revenue is derived from leases which convey the right to use land and
various airport facilities which are accounted for as operating leases. Minimum future rental on noncancellable
operating leases are as follows:
Of the amounts shown above, one tenant comprises 78.92% of all future minimum lease rentals. The tenant’s
multiple leases expire in 2040. A summary of assets leased or available for tenant use is as follows:
For the Year Ended
December 31:
2017 2,391,883$
2018 2,411,965
2019 2,502,934
2020 2,825,807
2021 2,855,605
Thereafter 50,517,180
63,505,374$
Cost 35,309,750$
Less: Accumulated Depreciation (13,787,607)
Carrying Value 21,522,143$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐63
NOTE 14. CAPITAL LEASE
In December 2014 the City entered into a lease agreement as lessee for financing the acquisition of three Xerox
copiers valued at $169,245. The equipment has a five year estimated useful life. This year, $33,849 was included
in depreciation expense and accumulated depreciation at December 31, 2016 was $67,698.
The future minimum lease obligations and the net present value of these lease payments as of December 31,
2016, were as follows:
Year ending December 31:
Governmental
Activities
2017 36,792$
2018 36,792
2019 36,792
Total 110,376
Less amount representing interest (5,473)
Present value of minimum lease payments 104,903$
NOTE 15. TAX ABATEMENT
Under the provisions of the Preservation Tax Exemption program (RCW 84.14), the City has taken advantage of
the option to provide targeted property tax exemption to existing property owners who agree to restrict rents
and provide income‐eligibility for a portion of the units within their properties. The purpose of this program
incentivizes the creation of affordable and improved housing quality and prevent displacement for citizens that
are in the most need. The City has a comprehensive program that has specific parameters for project eligibility
and duration of exemption.
Provided a property meets the eligibility criteria and the property owner continue fulfills the requirements of
affordable housing, the property will receive a property tax exemption on the appraised value of improvements,
regardless of assessed valuation. This exemption is not extended to the appraised value of land or non‐eligible
improvements on the same parcel. Eligibility criteria includes: at a minimum, the property owner must provide
affordable housing to low‐income households for 20% of the multi‐units available for rent; and the property
must be located in one of the designated “residential target areas”. All exemptions granted after July 2007
range from 8‐12 years depending on the exemption option selected. There are no provisions to recapture
abated taxes.
As of December 31, 2016 the City has eight projects that are currently subject to property tax abatement and
the totals are as follows:
Tax Abatement Program
Property tax
abated in the fiscal
year ending
12/31/2016
Property Tax Exemption for Affordable Multi-Family Housing 1,034,884$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐64
NOTE 16. SPECIAL ITEMS
The City had two special items as of December 31, 2016, which were both significant items, subject to
management’s control, and are not reasonably expected to occur in the foreseeable future.
King County Library System Asset Transfer
In 2010 the citizens of Renton approved annexation into the King County Library System (KCLS). Subsequently,
in 2011, the City entered into an agreement with KCLS that outlined the terms of transferring library operations
out of the City and to KCLS. Under this agreement, the City would be responsible for acquiring two sites and
funding the construction of two new libraries. At the point of substantial completion, KCLS will be deeded the
buildings while the City will remain the owner of the land. KCLS is obligated to equip, maintain, and operate the
two new libraries. As of December 31, 2016 both libraries were substantially complete and KCLS has taken over
operations. Therefore, the City recorded an asset transfer of $18,527,290 – the acquisition value of both the
Highlands Library and the Downtown Library.
Renton Regional Fire Authority – Transfer of Operations
On April 26, 2016 Renton voters approved the formation of a Regional Fire Authority (RFA). The RFA became a
separate legal entity on July 1, 2016, a consolidation of King County Fire District #25 and the City of Renton Fire
Department. Operations of King County Fire District #25 and the City of Renton Fire Department ended June
30, 2016. The City of Renton will no longer be responsible for providing fire and emergency services as of July
1, 2016.
Fire operations are generally supported through property taxes. The RFA was unable to levy property taxes to
support their operations in 2016, as the formation of the RFA occurred mid‐year. In order to support the 2016
operations of the RFA, the City transferred cash balances in an amount equal to remaining fire operations
appropriations. Beginning in 2017, the RFA will levy their own property taxes. Expenditures for the City’s fire
operations totaled $13,875,736 through June 30, 2016 are included in public safety expenditures of the General
Fund.
All of the City’s assets currently used to support fire and emergency services (including real and personal
property, RFA specific fleet and equipment reserves, and the Health and Wellness fund reserves) were
transferred to the RFA effective July 1, 2016. The City retained its current Firefighter Pension and/or LEOFF 1
retiree obligations and debt service obligations related to Fire Station 13. The transfer of assets and operations
affects the governmental fund statements, the proprietary fund statements, and the government‐wide
statements.
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐65
Below is a summary of amounts transferred to the RFA in the fiscal year 2016. As a cash‐basis reporter the RFA
will report a beginning net position transfer equal to the cash balances transferred.
NOTE 17. PRIOR PERIOD ADJUSTMENT
Governmental Funds – Municipal Facilities CIP
A prior period adjustment was necessary to correct for construction invoices not properly accrued in the prior
year. The result is a decrease in beginning fund balance in the Municipal Facilities CIP fund of $288,151.
The error had no effect on Governmental Activities net position.
Governmental Funds – Capital Improvement
A prior period adjustment was necessary to correct for grant revenue not properly accrued in the prior year.
The result is an increase in beginning fund balance in the Capital Improvement fund of $48,738.
Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds
Prior period adjustment was necessary to remove several capital assets from the statement of net position.
Capital outlays that did not increase capacity or extend the original useful life of an asset were improperly
capitalized when they should have been expensed in the period they were incurred. The adjustment for
improperly capitalized assets resulted in a decrease in net position of the Waterworks Utility fund in the amount
of $534,849 and the Governmental Activities Internal Service Funds in the amount of $257,315.
Government‐wide Statement of Net Position and Statement of Activities
In additional to the correction of grant revenue receivable noted above, prior period adjustment was necessary
to remove several capital assets from the Statement of Net Position. Capital outlays that did not increase
capacity or extend the original useful life of an asset were improperly capitalized when they should have been
expensed in the period they were incurred.
The effect of these corrections on the Statement of Activities is as follows:
Current Assets ‐ Cash 13,801,867$
Capital Assets 13,312,338
Other Assets ‐ Net Pension Asset 4,391,717
Total Assets 31,505,922
Deferred Outflows Related to Pensions 1,833,741
Deferred Inflows Related to Pensions (66,581)
Net Pension Liabilities (607,674)
Total Net Position Transferred to RFA 32,665,408$
Governmental
Activities
Business‐Type
Activities Total
2015 grant revenue not accrued 48,738$ ‐$ 48,738$
Improperly capitalized assets (2,272,804) (534,849) (2,807,653)
Prior period adjustment (2,224,066)$ (534,849)$ (2,758,915)$
2016 Comprehensive Annual Financial Report City of Renton,Washington
NOTES TO THE FINANCIAL STATEMENTS
Basic Financial Statements, 4‐66
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2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATON
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
BUDGETARY TO GAAP
ACTUAL AMOUNTS ACTUAL AMOUNTS DIFFERENCES
ORIGINAL FINAL BUDGETARY BASIS VARIANCE GAAP BASIS OVER (UNDER)
REVENUES
Taxes $ 89,574,914 $ 92,145,553 $ 96,940,592 $ 4,795,039 $ 91,462,840 $ 5,477,752 (1)
Licenses and permits 5,011,000 5,977,000 5,608,086 (368,914) 5,608,086 ‐
Intergovernmental revenues 3,360,796 6,049,275 4,866,804 (1,182,471) 4,456,476 410,328 (1)
Charges for services 9,812,126 10,270,526 8,171,113 (2,099,413) 8,171,113 ‐
Fines and forfeits 3,320,500 3,320,500 2,858,295 (462,205) 2,858,295 ‐
Interfund revenues 3,336,420 3,439,407 ‐ (3,439,407) ‐ ‐
Contributions 97,000 102,700 117,382 14,682 117,382 ‐
Interest 875,300 875,300 1,081,791 206,491 1,061,479 20,312 (1), (2)
Miscellaneous revenues 1,162,909 1,569,155 2,048,307 479,152 3,035,798 (987,491) (2)
TOTAL REVENUES 116,550,965 123,749,416 121,692,370 (2,057,046) 116,771,469 4,920,901
EXPENDITURES
Current:
General government 11,694,326 13,061,553 10,923,434 (2,138,119) 11,568,439 (645,005) (2)
Judicial 2,637,710 2,637,710 2,536,835 (100,875) 2,536,835 ‐
Public safety 61,825,269 64,128,571 47,619,491 (16,509,080) 47,619,491 ‐
Utilities 481,299 481,299 238,057 (243,242) 238,057 ‐
Transportation 10,442,784 11,544,292 10,054,845 (1,489,447) 10,054,845 ‐
Economic environment 7,918,704 9,072,555 6,794,821 (2,277,734) 6,794,821 ‐
Health and human services 1,889,300 2,144,610 2,068,295 (76,315) 2,068,295 ‐
Culture and recreation 12,491,321 12,944,515 11,303,803 (1,640,712) 11,303,803 ‐
Capital outlay:
General government ‐ 11,400 ‐ (11,400) 330,504 (330,504) (2)
Public safety 27,000 150,454 57,366 (93,088) 57,366 ‐
Transportation 5,200 25,200 6,172 (19,028) 6,172 ‐
Health and human services ‐ 23,000 ‐ (23,000) ‐ ‐
Culture and recreation ‐ 50,000 21,053 (28,947) 21,053 ‐
Debt service:
Principal payment 4,430,216 4,430,216 4,530,216 100,000 ‐ 4,530,216 (1)
Interest payment 1,818,460 1,818,460 1,568,950 (249,510) ‐ 1,568,950 (1)
TOTAL EXPENDITURES 115,661,589 122,523,835 97,723,338 (24,800,497) 92,599,681 5,123,657
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 889,376 1,225,581 23,969,032 22,743,451 24,171,788 (202,756)
OTHER FINANCING SOURCES (USES)
Transfer in 250,000 2,100,000 2,189,876 89,876 1,975,955 213,921
Transfer (out) (1,140,000) (6,229,424) (6,221,410) 8,014 (6,221,410) ‐
Insurance recoveries ‐ ‐ 29,061 29,061 29,061 ‐
TOTAL OTHER FINANCING SOURCES (USES) (890,000) (4,129,424) (4,002,473) 126,951 (4,216,394) 213,921
SPECIAL ITEMS
Transfer of fire operations ‐ ‐ (11,748,581) 11,748,581 (11,748,581) ‐
TOTAL SPECIAL ITEMS ‐ ‐ (11,748,581) 11,748,581 (11,748,581) ‐
NET CHANGE IN FUND BALANCE (624) (2,903,843) 8,217,978 11,121,821 8,206,813 11,165
FUND BALANCE JANUARY 1 13,433,567 19,962,845 24,628,878 4,666,033 21,784,534 2,844,344 (1), (2)
FUND BALANCE DECEMBER 31 $ 13,432,943 $ 17,059,002 $ 32,846,856 $ 15,787,854 $ 29,991,347 $ 2,855,509 (1), (2)
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION
(1) General Governmental Debt Fund is included in the Actual Amounts Budgetary Basis column
(2) Leased City Property Fund is included in the Actual Amounts GAAP Basis column
(3) Excludes interfund loan proceeds in Budgeted Amounts Final column
BUDGETED AMOUNTS
Required Supplementary Information, 5‐1
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30 *
Last 10 Fiscal Years
PERS Plan 1 2016 2015 2014
City's proportion of the net pension liability/(asset)0.276331% 0.275830% 0.273241%
City's proportionate share of the net pension
liability/(asset)**14,840,276$ 14,428,474$ 13,764,644$
City's covered payroll 32,889,898$ 31,129,385$ 29,782,167$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll 45.12% 46.35% 46.22%
Plan fiduciary net position as a percentage of the
total pension liability 57.03% 59.10% 61.19%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $280,481 in net pension liability transferred to the RFA on 6/30/16 to avoid skewing
percentage of covered payroll ratio.
Required Supplementary Information, 5‐2
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30 *
Last 10 Fiscal Years
PERS Plan 2/3 2016 2015 2014
City's proportion of the net pension liability/(asset)0.343835% 0.345072% 0.337183%
City's proportionate share of the net pension
liability/(asset)**17,311,821$ 12,329,619$ 6,815,686$
City's covered payroll 32,370,185$ 30,618,109$ 29,147,610$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll 53.48% 40.27% 23.38%
Plan fiduciary net position as a percentage of the
total pension liability 85.82% 89.20% 93.29%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $327,194 in net pension liability transferred to the RFA on 6/30/16 to avoid skewing
percentage of covered payroll ratio.
Required Supplementary Information, 5‐3
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30 *
Last 10 Fiscal Years
PSERS Plan 2 2016 2015 2014
City's proportion of the net pension liability/(asset)0.065158% 0.042991% 0.046443%
City's proportionate share of the net pension
liability/(asset)27,691$ 7,846$ (6,725)$
City's covered payroll 211,427$ 124,200$ 125,311$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll 13.10% 6.32%‐5.37%
Plan fiduciary net position as a percentage of the
total pension liability 90.41% 95.08% 105.01%
* This schedule will be built prospectively until it contains ten years of data.
Required Supplementary Information, 5‐4
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30 *
Last 10 Fiscal Years
LEOFF Plan 1 2016 2015 2014
City's proportion of the net pension liability/(asset)0.231059% 0.229885% 0.225836%
City's proportionate share of the net pension
liability/(asset)**(2,380,569)$ (2,770,622)$ (2,738,919)$
City's covered payroll ‐$ ‐$ ‐$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll N/A N/A N/A
Plan fiduciary net position as a percentage of the
total pension liability 123.74% 127.36% 126.91%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $1,325,025 in net pension asset transferred to the RFA on 6/30/16 to avoid skewing
percentage of covered payroll ratio.
Required Supplementary Information, 5‐5
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Measurement Date of June 30 *
Last 10 Fiscal Years
LEOFF Plan 2 2016 2015 2014
City's proportion of the net pension liability/(asset)0.947284% 0.954715% 0.947521%
City's proportionate share of the net pension
liability/(asset)**(5,509,688)$ (9,812,561)$ (12,574,011)$
State's proportionate share of the net pension
liability/(asset) associated with the City (944,777) (925,241) (870,262)
Total (6,454,465)$ (10,737,802)$ (13,444,273)$
City's covered payroll 28,694,750$ 27,709,532$ 26,365,930$
City's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll ‐19.20%‐35.41%‐47.69%
Plan fiduciary net position as a percentage of the
total pension liability 106.04% 111.67% 116.75%
* This schedule will be built prospectively until it contains ten years of data.
** 2016 amount includes $3,066,692 in net pension asset transferred to the RFA on 6/30/16 to avoid skewing
percentage of covered payroll ratio.
Required Supplementary Information, 5‐6
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTAL INFORMATION
SCHEDULE OF EMPLOYER CONTRIBUTIONS
WA DEPARTMENT OF RETIREMENT SYSTEMS
As of December 31
Last 10 Fiscal Years
PERS Plan 1 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Contractually Required Contribution 1,619,494$ 2,190,238$ 1,253,454$ N/A N/A N/A N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 1,619,494 2,190,238 1,253,454 N/A N/A N/A N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Covered payroll 33,737,587$ 48,318,549$ 30,448,215$ N/A N/A N/A N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 4.80% 4.53% 4.12% N/A N/A N/A N/A N/A N/A N/A
PERS Plan 2/3 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Contractually Required Contribution 2,067,865$ 2,743,908$ 1,490,022$ N/A N/A N/A N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 2,067,865 2,743,908 1,490,022 N/A N/A N/A N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Covered payroll 33,263,999$ 47,552,982$ 29,821,815$ N/A N/A N/A N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 6.22% 5.77% 5.00% N/A N/A N/A N/A N/A N/A N/A
PSERS Plan 2 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Contractually Required Contribution 14,489$ 18,418$ 7,845$ N/A N/A N/A N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 14,489 18,418 7,845 N/A N/A N/A N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Covered payroll 219,869$ 282,407$ 122,185$ N/A N/A N/A N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 6.59% 6.52% 6.42% N/A N/A N/A N/A N/A N/A N/A
LEOFF Plan 2 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
0
Contractually Required Contribution 1,049,917$ 2,160,553$ 1,368,037$ N/A N/A N/A N/A N/A N/A N/A
Contributions in relation to the
contractually required contribution 1,049,917 2,160,553 1,368,037 N/A N/A N/A N/A N/A N/A N/A
Contribution deficiency (excess)‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Covered payroll 20,790,373$ 42,778,479$ 27,089,783$ N/A N/A N/A N/A N/A N/A N/A
Contributions as a percentage of covered
payroll 5.05% 5.05% 5.05% N/A N/A N/A N/A N/A N/A N/A
0
Note: Prior years information is unavailable
Required Supplementary Information, 5‐7
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS
FIREFIGHTERS' PENSION FUND
Last 10 Fiscal Years
$ Thousands
2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Total Pension Liability
Service Cost ‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Interest on Total Pension Liability 106 109 112 N/A N/A N/A N/A N/A N/A N/A
Effect of Plan Changes ‐ ‐ ‐ N/A N/A N/A N/A N/A N/A N/A
Effect of Economic/Demographic Gains or (Losses) (29) ‐ ‐ N/A N/A N/A N/A N/A N/A N/A
Effect of Assumption Changes or Inputs (125) ‐ ‐ N/A N/A N/A N/A N/A N/A N/A
Benefit payments (208) (205) (204) N/A N/A N/A N/A N/A N/A N/A
Net Change in Total Pension Liability (256) (96) (92) N/A N/A N/A N/A N/A N/A N/A
Total Pension Liability ‐ Beginning 3,125 3,221 3,313 N/A N/A N/A N/A N/A N/A N/A
Total Pension Liability ‐ Ending (a) 2,868$ 3,125$ 3,221$ N/A N/A N/A N/A N/A N/A N/A
Plan Fiduciary Net Position
Employer Contributions ‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Contributions from State Fire Insurance Premium Tax 148 146 143 N/A N/A N/A N/A N/A N/A N/A
Investment Income Net of Investment Expenses 136 134 394 N/A N/A N/A N/A N/A N/A N/A
Benefit payments (208) (205) (204) N/A N/A N/A N/A N/A N/A N/A
Medical Payments from Fund ‐ ‐ ‐ N/A N/A N/A N/A N/A N/A N/A
Administrative Expense ‐ (12) (1) N/A N/A N/A N/A N/A N/A N/A
Net Change in plan fiduciary net position 76 63 332 N/A N/A N/A N/A N/A N/A N/A
Plan fiduciary net position ‐ beginning 9,531 9,468 9,136 N/A N/A N/A N/A N/A N/A N/A
Plan fiduciary net position ‐ ending (b) 9,607 9,531 9,468 N/A N/A N/A N/A N/A N/A N/A
Net pension liability ‐ ending =(a)‐(b) (6,739)$ (6,406)$ (6,247)$ N/A N/A N/A N/A N/A N/A N/A
Fiduciary net position as a percentage of the total pension
liability 334.97% 304.99% 293.95% N/A N/A N/A N/A N/A N/A N/A
Covered Payroll ‐$ ‐$ ‐$ N/A N/A N/A N/A N/A N/A N/A
Net pension liability as a percentage of covered payroll N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Notes to schedule:
Prior years information is unavailable.
Required Supplementary Information, 5‐8
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF EMPLOYER CONTRIBUTIONS
FIREFIGHTERS' PENSION FUND
Last 10 Fiscal Years
2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Actuarially determined contribution ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Contributions in relation to the actuarially
determined contribution 148,034 146,358 142,706 124,391 118,775 102,354 107,068 70,327 66,055 59,777
Contribution deficiency (excess)(148,034)$ (146,358)$ (142,706)$ (124,391)$ (118,775)$ (102,354)$ (107,068)$ (70,327)$ (66,055)$ (59,777)$
Covered ‐ employee payroll ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$
Contribution as a percentage of covered ‐
employee payroll N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Note:
Contributions are a portion of State Fire Insurance Premium Taxes.
Required Supplementary Information, 5‐9
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
FIREFIGHTERS' PENSION FUND
SCHEDULE OF INVESTMENT RETURNS
December 31, 2016
Fiscal Year
Ending
December 31
Net
Money‐Weighted Rate of
Return
2007 N/A
2008 N/A
2009 N/A
2010 N/A
2011 N/A
2012 N/A
2013 N/A
2014 4.31%
2015 1.42%
2016 1.43%
Required Supplementary Information, 5‐10
2016 Comprehensive Annual Financial Report City of Renton, Washington
REQUIRED SUPPLEMENTARY INFORMATION
LEOFF 1 RETIREE MEDICAL BENEFITS
SCHEDULE OF FUNDING PROGRESS
(Dollar amounts in thousands)
$ Thousands
YEAR ENDING
12/31
ACTUARIAL
VALUE OF
ASSETS
ACTUARIAL
ACCRUED
LIABILITES
UNFUNDED
ACTUARIAL
ACCRUED
LIABILITIES
FUNDED
RATIO
COVERED
PAYROLL
UAAL AS A
PERCENTAGE
OF COVERED
PAYROLL
2007 $‐ $ 32,328 $ 32,328 0% $ 471 6864%
2010 ‐ 27,835 27,835 0% 434 6414%
2012 ‐ 41,633 41,633 0% 300 13878%
2014 42,306 42,306 0% 110 38460%
Required Supplementary Information, 5‐11
2016 Comprehensive Annual Financial Report City of Renton, Washington
This page intentionally left blank.
Required Supplementary Information, 5‐12
2016 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐1
Non‐Major Governmental Funds
Special Revenue Funds
ARTERIAL STREET FUND
The Arterial Street Fund was established pursuant to state law allocating the one‐half cent State
Gasoline Tax revenue to cities and towns for construction, improvements, and major repair of
streets.
HOTEL/MOTEL TAX FUND
Accounts for monies collected through an increase of 1% in hotel/motel taxes for the purpose of
increasing tourism in the City of Renton.
1% FOR ART FUND
The City of Renton established this fund to account for one percent of construction project actual
costs to be used for the selection, acquisition and/or installation of works of art to be placed in,
on, or about City public facilities.
CABLE COMMUNICATIONS DEVELOPMENT FUND
The Cable Communications Development Fund accounts for funding for promotion and
development of cable communications as established by City ordinance.
SPRINGBROOK WETLANDS BANK FUND
The City of Renton established this fund in 2007 for the purpose of providing accounting for the
Springbrook Creek Wetland and Habitat Mitigation Bank project. The fund will receive revenue
by selling Wetlands Credits to third parties and to the City’s internal departments.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐2
Debt Service Funds
GENERAL GOVERNMENTAL MISCELLANEOUS DEBT SERVICE FUND
This debt service fund accounts for the following outstanding debt issues:
2006 limited tax general obligation bonds which provided funding for the construction of
South Lake Washington infrastructure improvements.
2009 intergovernmental debt related to the Fire District #40 asset transfer as a result of
the Benson Hill annexation.
2009 intergovernmental debt related to acquisition, construction, and equipping of the
SCORE facility.
2010 limited tax general obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds for the construction of a downtown parking facility.
2011 limited tax general obligation bonds which funded the development and
construction of 2 new libraries.
2011 limited tax general obligation refunding bonds which refunded a portion of the 2001
limited tax general obligation bonds which refunded a portion of the 1997 limited tax
general obligation bonds for the purchase of Renton City Hall.
2013 limited tax general obligation qualified energy conservation bonds (QECB) which
provided funding for streetlight improvements.
2015 (A&B) limited tax general obligation refunding bonds which refunded a portion of
the 2006 limited tax general obligation bonds for the construction of South Lake
Washington infrastructure improvements.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐3
Capital Project Funds
COMMUNITY DEVELOPMENT IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
FIRE IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
TRANSPORTATION IMPACT MITIGATION FUND
Accounts for monies collected from developers to offset impacts created by their developments
to City facilities.
MUNICIPAL FACILITIES CIP FUND
Accounts for facility improvements and renovations, property acquisitions for parks and City
space needs, parks development and equipment, and major capital requirements. Resources
include general and special revenue taxes, grants, mitigation revenue, and Council‐approved
general obligation bonds.
2016 Comprehensive Annual Financial Report City of Renton, Washington
Combining Statements & Schedules, 6‐4
Non‐Major Proprietary Funds
Enterprise Funds
AIRPORT FUND
The Airport Fund accounts for revenues and expenses for administration, debt services,
operation, capital improvements, and maintenance of the Renton Municipal Airport and Will
Rodger‐Wily Post Memorial Seaplane Base. Sources of support to the fund are leases, fuel
charges, investment interest, and grant funding as available.
GOLF COURSE FUND
The Golf Course Fund was created after the City acquired the Maplewood Golf Course. The fund
accounts for the operation, maintenance, debt service, and capital improvements of the facility.
Internal Service Funds
EQUIPMENT RENTAL FUND
The Equipment Rental Fund accounts for the costs of maintaining and replacing all City vehicles
and auxiliary equipment. In addition, this fund accounts for the City’s information technology,
facilities and communications costs. All costs, including depreciation, are factors in calculating
the rates that are charged to each user department.
INSURANCE FUND
The Insurance Fund provides accounting for self‐insurance services to all City departments,
including provisions for losses on property, liability, worker’s compensation, unemployment
compensation, and the health care program. Expenses are paid from the Insurance Fund and
rates are charged to departments based on use and/or coverage requirements.
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2016
Page 1 of 6
SPECIAL REVENUE FUNDS
ARTERIAL HOTEL/ CABLE
STREET MOTEL TAX COMMUNICATIONS
ASSETS
Cash & cash equivalents $ 44,111 $ 285,070 $ 285,369
Investments at fair value 18,030 116,519 116,641
Receivables (net of allowances):
Customer accounts ‐ 5,000 ‐
Accrued interest & penalties 1,368 1,206 1,329
Due from other governments 104,464 35,833 ‐
TOTAL ASSETS 167,973 443,628 403,339
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 167,973 $ 443,628 $ 403,339
LIABILITIES
Accounts payable $‐ $‐ $ 8,642
Due to other funds ‐ 20,000 ‐
TOTAL LIABILITIES ‐ 20,000 8,642
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue ‐ 5,000 ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ 5,000 ‐
FUND BALANCES
Restricted 167,973 418,628 394,697
TOTAL FUND BALANCES 167,973 418,628 394,697
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 167,973 $ 443,628 $ 403,339
Combining Statements & Schedules, 6‐5
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2016
Page 2 of 6
SPECIAL REVENUE FUNDS
1% FOR SPRINGBROOK TOTAL
ART WETLANDS SRF
ASSETS
Cash & cash equivalents $ 90,979 $ 236,284 $ 941,813
Investments at fair value 37,186 96,578 384,954
Receivables (net of allowances):
Customer accounts ‐ ‐ 5,000
Accrued interest & penalties 385 1,323 5,611
Due from other governments ‐ ‐ 140,297
TOTAL ASSETS 128,550 334,185 1,477,675
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 128,550 $ 334,185 $ 1,477,675
LIABILITIES
Accounts payable $‐ $‐ $ 8,642
Due to other funds ‐ ‐ 20,000
TOTAL LIABILITIES ‐ ‐ 28,642
DEFERRED INFLOWS OF RESOURCES ‐ ‐ ‐
Unavailable revenue ‐ ‐ 5,000
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ 5,000
FUND BALANCES
Restricted 128,550 334,185 1,444,033
TOTAL FUND BALANCES 128,550 334,185 1,444,033
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 128,550 $ 334,185 $ 1,477,675
Combining Statements & Schedules, 6‐6
2016 Comprehensive Annual Financial Report City of Renton, Washington
GENERAL TOTAL
DEBT DSF
ASSETS
Cash & cash equivalents $ 1,712,477 $ 1,712,477
Investments at fair value 699,953 699,953
Receivables (net of allowances):
Accrued interest & penalties 15,588 15,588
Due from other governments 1,059,806 1,059,806
TOTAL ASSETS 3,487,824 3,487,824
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 3,487,824 $ 3,487,824
LIABILITIES
Unearned revenue $ 1,059,806 $ 1,059,806
TOTAL LIABILITIES 1,059,806 1,059,806
DEFERRED INFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐
FUND BALANCES
Committed 2,428,018 2,428,018
TOTAL FUND BALANCES 2,428,018 2,428,018
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 3,487,824 $ 3,487,824
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2016
Page 3 of 6
DEBT SERVICE FUNDS
Combining Statements & Schedules, 6‐7
2016 Comprehensive Annual Financial Report City of Renton, Washington
C.D. IMPACT FIRE IMPACT TRANS. IMPACT
MITIGATION MITIGATION MITIGATION
ASSETS
Cash & cash equivalents $ 887,893 $ 427,920 $ 1,060,338
Investments 362,915 174,907 433,400
Receivables (net of allowances):
Customer accounts ‐ ‐ ‐
Accrued interest & penalties 4,983 4,625 4,932
Notes and assessments receivable ‐ ‐ 6,960
Due from other funds 319,514 ‐ ‐
Due from other governments ‐ ‐ ‐
TOTAL ASSETS 1,575,305 607,452 1,505,630
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 1,575,305 $ 607,452 $ 1,505,630
LIABILITIES
Accounts payable $‐ $‐ $‐
Retainage payable ‐ ‐ ‐
Due to other funds ‐ ‐ ‐
Custodial accounts ‐ 607,452 ‐
TOTAL LIABILITIES ‐ 607,452 ‐
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ ‐ 7,169
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ ‐ 7,169
FUND BALANCES
Nonspendable ‐ ‐ ‐
Restricted 1,575,305 ‐ 1,498,461
Committed ‐ ‐ ‐
Assigned ‐ ‐ ‐
TOTAL FUND BALANCES 1,575,305 ‐ 1,498,461
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 1,575,305 $ 607,452 $ 1,505,630
CAPITAL PROJECT FUNDS
OTHER GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
Page 4 of 6
DECEMBER 31, 2016
Combining Statements & Schedules, 6‐8
2016 Comprehensive Annual Financial Report City of Renton, Washington
MUNICIPAL TOTAL
FACILITIES CIP CPF
ASSETS
Cash & cash equivalents $ 12,668,179 $ 15,044,330
Investments 5,177,957 6,149,179
Receivables (net of allowances):
Customer accounts 34,510 34,510
Accrued interest & penalties 58,488 73,028
Notes and assessments receivable 64,783 71,743
Due from other funds 1,027,792 1,347,306
Due from other governments 813,699 813,699
TOTAL ASSETS 19,845,408 23,533,795
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 19,845,408 $ 23,533,795
Liabilities
Accounts payable $ 1,044,328 $ 1,044,328
Retainage payable 45,774 45,774
Due to other funds 319,514 319,514
Custodial accounts ‐ 607,452
TOTAL LIABILITIES 1,409,616 2,017,068
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ 7,169
TOTAL DEFERRED INFLOWS OF RESOURCES ‐ 7,169
FUND BALANCES
Nonspendable 64,783 64,783
Restricted 2,692,597 5,766,363
Committed 10,211,877 10,211,877
Assigned 5,466,535 5,466,535
TOTAL FUND BALANCES 18,435,792 21,509,558
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES $ 19,845,408 $ 23,533,795
CAPITAL PROJECT FUNDS
Page 5 of 6
DECEMBER 31, 2016
OTHER GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
Combining Statements & Schedules, 6‐9
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL OTHER
TOTAL TOTAL TOTAL GOVERNMENTAL
SRF DSF CPF FUNDS
ASSETS
Cash & cash equivalents $ 941,813 $ 1,712,477 $ 15,044,330 $ 17,698,620
Investments at fair value 384,954 699,953 6,149,179 7,234,086
Receivables (net of allowances):
Customer accounts 5,000 ‐ 34,510 39,510
Accrued interest & penalties 5,611 15,588 73,028 94,227
Special assessments ‐ ‐ 71,743 71,743
Due from other funds ‐ ‐ 1,347,306 1,347,306
Due from other governments 140,297 1,059,806 813,699 2,013,802
TOTAL ASSETS 1,477,675 3,487,824 23,533,795 28,499,294
DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL DEFERRED OUTFLOWS OF RESOURCES ‐ ‐ ‐ ‐
TOTAL ASSETS AND DEFERRED OUTFLOWS OF
RESOURCES $ 1,477,675 $ 3,487,824 $ 23,533,795 $ 28,499,294
LIABILITIES
Accounts payable $ 8,642 $‐ $ 1,044,328 $ 1,052,970
Retainage payable ‐ ‐ 45,774 45,774
Due to other funds 20,000 ‐ 319,514 339,514
Custodial accounts ‐ ‐ 607,452 607,452
Unearned revenue ‐ 1,059,806 ‐ 1,059,806
TOTAL LIABILITIES 28,642 1,059,806 2,017,068 3,105,516
DEFERRED INFLOWS OF RESOURCES
Deferred amounts on special assessments ‐ ‐ 7,169 7,169
Unavailable revenue 5,000 ‐ ‐ 5,000
TOTAL DEFERRED INFLOWS OF RESOURCES 5,000 ‐ 7,169 12,169
FUND BALANCES
Nonspendable ‐ ‐ 64,783 64,783
Restricted 1,444,033 ‐ 5,766,363 7,210,396
Committed ‐ 2,428,018 10,211,877 12,639,895
Assigned ‐ ‐ 5,466,535 5,466,535
TOTAL FUND BALANCES 1,444,033 2,428,018 21,509,558 25,381,609
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES $ 1,477,675 $ 3,487,824 $ 23,533,795 $ 28,499,294
Page 6 of 6
COMBINING BALANCE SHEET
OTHER GOVERNMENTAL FUNDS
DECEMBER 31, 2016
Combining Statements & Schedules, 6‐10
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 1 of 6
SPECIAL REVENUE FUNDS
ARTERIAL HOTEL/ CABLE
STREET MOTEL TAX COMMUNICATIONS
REVENUES
Taxes $‐ $ 297,910 $ 40,000
Licenses and permits ‐ ‐ 88,504
Intergovernmental revenues 677,561 ‐ ‐
Contributions ‐ 20,000 ‐
Interest 1,651 2,058 2,120
TOTAL REVENUES 679,212 319,968 130,624
EXPENDITURES
Current:
Economic environment ‐ 251,652 ‐
Culture and recreation ‐ ‐ 31,587
TOTAL EXPENDITURES ‐ 251,652 31,587
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 679,212 68,316 99,037
OTHER FINANCING SOURCES (USES)
Transfer in ‐ ‐ ‐
Transfer (out) (650,000) ‐ (36,079)
TOTAL OTHER FINANCE SOURCES (USES) (650,000) ‐ (36,079)
SPECIAL ITEMS
Transfer of fire operations ‐ ‐ ‐
TOTAL SPECIAL ITEMS ‐ ‐ ‐
NET CHANGE IN FUND BALANCE 29,212 68,316 62,958
FUND BALANCE JANUARY 1 138,761 350,312 331,739
FUND BALANCE DECEMBER 31 $ 167,973 $ 418,628 $ 394,697
Combining Statements & Schedules, 6‐11
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 2 of 6
SPECIAL REVENUE FUNDS
1% FOR SPRINGBROOK TOTAL
ART WETLANDS SRF
REVENUES
Taxes $‐ $‐ $ 337,910
Licenses and permits ‐ ‐ 88,504
Intergovernmental revenues ‐ ‐ 677,561
Contributions ‐ ‐ 20,000
Interest 621 1,831 8,281
TOTAL REVENUES 621 1,831 1,132,256
EXPENDITURES
Current:
Economic environment ‐ ‐ 251,652
Culture and recreation ‐ ‐ 31,587
TOTAL EXPENDITURES ‐ ‐ 283,239
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 621 1,831 849,017
OTHER FINANCING SOURCES (USES)
Transfer in 16,769 ‐ 16,769
Transfer (out)‐ ‐ (686,079)
TOTAL OTHER FINANCE SOURCES (USES) 16,769 ‐ (669,310)
SPECIAL ITEMS
Transfer of fire operations ‐ ‐ ‐
TOTAL SPECIAL ITEMS ‐ ‐ ‐
NET CHANGE IN FUND BALANCE 17,390 1,831 179,707
FUND BALANCE JANUARY 1 111,160 332,354 1,264,326
FUND BALANCE DECEMBER 31 $ 128,550 $ 334,185 $ 1,444,033
Combining Statements & Schedules, 6‐12
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 3 of 6
DEBT SERVICE FUNDS
GENERAL TOTAL
DEBT DSF
REVENUES
Taxes $ 5,477,752 $ 5,477,752
Intergovernmental revenues 410,328 410,328
Interest 20,927 20,927
TOTAL REVENUES 5,909,007 5,909,007
EXPENDITURES
Debt service:
Principal payments 4,530,216 4,530,216
Interest and fiscal charges 1,568,950 1,568,950
TOTAL EXPENDITURES 6,099,166 6,099,166
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (190,159) (190,159)
OTHER FINANCING SOURCES (USES)
Transfer in 250,000 250,000
TOTAL OTHER FINANCE SOURCES (USES) 250,000 250,000
NET CHANGE IN FUND BALANCE 59,841 59,841
FUND BALANCE JANUARY 1 2,368,177 2,368,177
FUND BALANCE DECEMBER 31 $ 2,428,018 $ 2,428,018
Combining Statements & Schedules, 6‐13
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 4 of 6
CAPITAL PROJECT FUNDS
C.D. IMPACT FIRE IMPACT TRANS. IMPACT
MITIGATION MITIGATION MITIGATION
REVENUES
Taxes $‐ $‐ $‐
Licenses and permits ‐ ‐ ‐
Intergovernmental revenues ‐ ‐ ‐
Charges for services 285,641 189,795 665,345
Contributions ‐ ‐ ‐
Interest 7,443 2,821 7,011
Miscellaneous revenues ‐ ‐ ‐
TOTAL REVENUES 293,084 192,616 672,356
EXPENDITURES
Current:
General government ‐ ‐ ‐
Economic environment ‐ ‐ ‐
Culture and recreation ‐ ‐ ‐
Capital outlay:
General government ‐ ‐ ‐
Public safety ‐ ‐
Transportation ‐ ‐
Culture and recreation ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 293,084 192,616 672,356
OTHER FINANCING SOURCES (USES)
Transfer in 319,514 ‐ ‐
Transfer (out) (276,289) (850,000) (110,660)
TOTAL OTHER FINANCE SOURCES (USES) 43,225 (850,000) (110,660)
SPECIAL ITEMS
Transfer of fire operations ‐ (551,786) ‐
TOTAL SPECIAL ITEMS ‐ (551,786) ‐
NET CHANGE IN FUND BALANCE 336,309 (1,209,170) 561,696
FUND BALANCE JANUARY 1 1,238,996 1,209,170 936,765
Prior period adjustment ‐ ‐ ‐
FUND BALANCE JANUARY 1 RESTATED 1,238,996 1,209,170 936,765
FUND BALANCE DECEMBER 31 $ 1,575,305 $‐ $ 1,498,461
Combining Statements & Schedules, 6‐14
2016 Comprehensive Annual Financial Report City of Renton, Washington
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 5 of 6
CAPITAL PROJECT FUNDS
MUNICIPAL TOTAL
FACILITIES CIP CPF
REVENUES
Taxes $ 4,643,017 $ 4,643,017
Licenses and permits 285,560 285,560
Intergovernmental revenues 967,497 967,497
Charges for services 14,190 1,154,971
Contributions 89,510 89,510
Interest 83,412 100,687
Miscellaneous revenues 261 261
TOTAL REVENUES 6,083,447 7,241,503
EXPENDITURES
Current:
General government 392,821 392,821
Economic environment 84,177 84,177
Culture and recreation 450,782 450,782
Capital outlay:
General government 482,743 482,743
Public safety 503 503
Transportation 31,776 31,776
Culture and recreation 3,183,203 3,183,203
TOTAL EXPENDITURES 4,626,005 4,626,005
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 1,457,442 2,615,498
OTHER FINANCING SOURCES (USES)
Transfer in 3,159,213 3,478,727
Transfer (out)(319,514) (1,556,463)
TOTAL OTHER FINANCE SOURCES (USES) 2,839,699 1,922,264
SPECIAL ITEMS
Transfer of fire operations ‐ (551,786)
TOTAL SPECIAL ITEMS ‐ (551,786)
NET CHANGE IN FUND BALANCE 4,297,141 3,985,976
FUND BALANCE JANUARY 1 14,426,802 17,811,733
Prior period adjustment (288,151) (288,151)
FUND BALANCE JANUARY 1 RESTATED 14,138,651 17,523,582
FUND BALANCE DECEMBER 31 $ 18,435,792 $ 21,509,558
Combining Statements & Schedules, 6‐15
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL OTHER
TOTAL TOTAL TOTAL GOVERNMENTAL
SRF DSF CPF FUNDS
REVENUES
Taxes $ 337,910 $ 5,477,752 $ 4,643,017 $ 10,458,679
Licenses and permits 88,504 ‐ 285,560 374,064
Intergovernmental revenues 677,561 410,328 967,497 2,055,386
Charges for services ‐ ‐ 1,154,971 1,154,971
Contributions 20,000 ‐ 89,510 109,510
Interest 8,281 20,927 100,687 129,895
Miscellaneous revenues ‐ ‐ 261 261
TOTAL REVENUES 1,132,256 5,909,007 7,241,503 14,282,766
EXPENDITURES
Current:
General government ‐ ‐ 392,821 392,821
Economic environment 251,652 ‐ 84,177 335,829
Culture and recreation 31,587 ‐ 450,782 482,369
Capital outlay:
General government ‐ ‐ 482,743 482,743
Public safety ‐ ‐ 503 503
Transportation ‐ ‐ 31,776 31,776
Culture and recreation ‐ ‐ 3,183,203 3,183,203
Debt service:
Principal payments ‐ 4,530,216 ‐ 4,530,216
Interest and fiscal charges ‐ 1,568,950 ‐ 1,568,950
TOTAL EXPENDITURES 283,239 6,099,166 4,626,005 11,008,410
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 849,017 (190,159) 2,615,498 3,274,356
OTHER FINANCING SOURCES (USES)
Transfer in 16,769 250,000 3,478,727 3,745,496
Transfer (out) (686,079) ‐ (1,556,463) (2,242,542)
TOTAL OTHER FINANCE SOURCES (USES) (669,310) 250,000 1,922,264 1,502,954
SPECIAL ITEMS
Transfer of fire operations ‐ ‐ (551,786) (551,786)
TOTAL SPECIAL ITEMS ‐ ‐ (551,786) (551,786)
NET CHANGE IN FUND BALANCE 179,707 59,841 3,985,976 4,225,524
FUND BALANCE JANUARY 1 1,264,326 2,368,177 17,811,733 21,444,236
Prior period adjustment ‐ ‐ (288,151) (288,151)
FUND BALANCE JANUARY 1 RESTATED 1,264,326 2,368,177 17,523,582 21,156,085
FUND BALANCE DECEMBER 31 $ 1,444,033 $ 2,428,018 $ 21,509,558 $ 25,381,609
Page 6 of 6
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐16
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Intergovernmental revenues $ 650,000 $ 650,000 $ 677,561 $ 27,561
Interest ‐ ‐ 1,651 1,651
TOTAL REVENUES 650,000 650,000 679,212 29,212
EXPENDITURES
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 650,000 650,000 679,212 29,212
OTHER FINANCING SOURCES (USES)
Transfer (out) (650,000) (650,000) (650,000) ‐
TOTAL OTHER FINANCE SOURCES (USES) (650,000) (650,000) (650,000) ‐
NET CHANGE IN FUND BALANCE ‐ ‐ 29,212 29,212
FUND BALANCE JANUARY 1 15,689 31,697 138,761 107,064
FUND BALANCE DECEMBER 31 $ 15,689 $ 31,697 $ 167,973 $ 136,276
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ ARTERIAL STREET FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐17
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 200,000 $ 200,000 $ 297,910 $ 97,910
Contributions 65,000 25,000 20,000 (5,000)
Interest ‐ ‐ 2,058 2,058
TOTAL REVENUES 265,000 225,000 319,968 94,968
EXPENDITURES
Current:
Economic environment 265,000 326,298 251,652 (74,646)
TOTAL EXPENDITURES 265,000 326,298 251,652 (74,646)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ‐ (101,298) 68,316 169,614
OTHER FINANCING SOURCES (USES)
TOTAL OTHER FINANCE SOURCES (USES)‐ ‐ ‐ ‐
NET CHANGE IN FUND BALANCE ‐ (101,298) 68,316 169,614
FUND BALANCE JANUARY 1 155,913 315,590 350,312 34,722
FUND BALANCE DECEMBER 31 $ 155,913 $ 214,292 $ 418,628 $ 204,336
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ HOTEL/MOTEL TAX FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐18
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Interest $‐ $‐ $ 621 $ 621
TOTAL REVENUES ‐ ‐ 621 621
EXPENDITURES
Capital outlay:
Culture and recreation ‐ 102,950 ‐
TOTAL EXPENDITURES ‐ 102,950 ‐ ‐
OVER EXPENDITURES ‐ (102,950) 621 621
OTHER FINANCING SOURCES (USES)
Transfer in 15,000 15,000 16,769 1,769
TOTAL OTHER FINANCE SOURCES (USES) 15,000 15,000 16,769 1,769
NET CHANGE IN FUND BALANCE 15,000 (87,950) 17,390 2,390
FUND BALANCE JANUARY 1 4,821 111,206 111,160 (46)
FUND BALANCE DECEMBER 31 $ 19,821 $ 23,256 $ 128,550 $ 2,344
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ 1% FOR ART FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐19
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 40,000 $ 40,000 $ 40,000 $‐
Licenses and permits 57,674 57,674 88,504 30,830
Interest ‐ ‐ 2,120 2,120
TOTAL REVENUES 97,674 97,674 130,624 32,950
EXPENDITURES
Current:
Culture and recreation 57,674 88,191 31,587 (56,604)
Capital outlay:
Culture and recreation 40,000 40,000 ‐ (40,000)
TOTAL EXPENDITURES 97,674 128,191 31,587 (96,604)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ‐ (30,517) 99,037 129,554
OTHER FINANCING SOURCES (USES)
Transfer (out)‐ (36,079) (36,079) ‐
TOTAL OTHER FINANCE SOURCES (USES)‐ (36,079) (36,079) ‐
NET CHANGE IN FUND BALANCE ‐ (66,596) 62,958 129,554
FUND BALANCE JANUARY 1 285,632 330,376 331,739 1,363
FUND BALANCE DECEMBER 31 $ 285,632 $ 263,780 $ 394,697 $ 130,917
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ CABLE COMMUNICATIONS DEVELOPMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐20
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Interest $‐ $‐ $ 1,831 $ 1,831
TOTAL REVENUES ‐ ‐ 1,831 1,831
EXPENDITURES
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES ‐ ‐ 1,831 1,831
OTHER FINANCING SOURCES (USES)
TOTAL OTHER FINANCE SOURCES (USES)‐ ‐ ‐ ‐
NET CHANGE IN FUND BALANCE ‐ ‐ 1,831 1,831
FUND BALANCE JANUARY 1 669,613 332,491 332,354 (137)
FUND BALANCE DECEMBER 31 $ 669,613 $ 332,491 $ 334,185 $ 1,694
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ SPRINGBROOK WETLANDS BANK FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐21
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 5,576,422 $ 6,776,422 $ 5,477,752 $ (1,298,670)
Intergovernmental revenues 422,254 422,254 410,328 (11,926)
Interest ‐ ‐ 20,927 20,927
TOTAL REVENUES 5,998,676 7,198,676 5,909,007 (1,289,669)
EXPENDITURES
Debt service:
Principal payments 4,430,216 4,430,216 4,530,216 100,000
Interest and fiscal charges 1,818,460 1,818,460 1,568,950 (249,510)
TOTAL EXPENDITURES 6,248,676 6,248,676 6,099,166 (149,510)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (250,000) 950,000 (190,159) (1,140,159)
OTHER FINANCING SOURCES (USES)
Transfers in 250,000 250,000 250,000 ‐
TOTAL OTHER FINANCE SOURCES (USES) 250,000 250,000 250,000 ‐
NET CHANGE IN FUND BALANCE ‐ 1,200,000 59,841 (1,140,159)
FUND BALANCE JANUARY 1 1,115,674 1,766,668 2,368,177 601,509
FUND BALANCE DECEMBER 31 $ 1,115,674 $ 2,966,668 $ 2,428,018 $ (538,650)
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL GOVERNMENTAL MISCELLANEOUS DEBT SERVICE FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐22
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 86,500 $ 86,500 $ 285,641 $ 199,141
Interest ‐ ‐ 7,443 7,443
TOTAL REVENUES 86,500 86,500 293,084 206,584
EXPENDITURES
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 86,500 86,500 293,084 206,584
OTHER FINANCING SOURCES (USES)
Transfer in ‐ ‐ 319,514 319,514
Transfer (out)‐ (276,289) (276,289) ‐
TOTAL OTHER FINANCE SOURCES (USES)‐ (276,289) 43,225 319,514
NET CHANGE IN FUND BALANCE 86,500 (189,789) 336,309 526,098
FUND BALANCE JANUARY 1 1,197,118 1,239,509 1,238,996 (513)
FUND BALANCE DECEMBER 31 $ 1,283,618 $ 1,049,720 $ 1,575,305 $ 525,585
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ COMMUNITY DEVELOPMENT IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐23
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 99,000 $ 99,000 $ 189,795 $ 90,795
Interest ‐ ‐ 2,821 2,821
TOTAL REVENUES 99,000 99,000 192,616 93,616
EXPENDITURES ‐ ‐ ‐ ‐
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 99,000 99,000 192,616 93,616
OTHER FINANCING SOURCES (USES)
Transfer (out) (250,000) (850,000) (850,000) ‐
TOTAL OTHER FINANCE SOURCES (USES) (250,000) (850,000) (850,000) ‐
SPECIAL ITEMS
Transfer of fire operations ‐ ‐ (551,786) (551,786)
TOTAL SPECIAL ITEMS ‐ ‐ (551,786) (551,786)
NET CHANGE IN FUND BALANCE (151,000) (751,000) (1,209,170) (458,170)
FUND BALANCE JANUARY 1 695,165 1,209,670 1,209,170 (500)
FUND BALANCE DECEMBER 31 $ 544,165 $ 458,670 $‐ $ (458,670)
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ FIRE IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐24
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Charges for services $ 215,500 $ 605,660 $ 665,345 $ 59,685
Interest 1,000 5,000 7,011 2,011
TOTAL REVENUES 216,500 610,660 672,356 61,696
EXPENDITURES
TOTAL EXPENDITURES ‐ ‐ ‐ ‐
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 216,500 610,660 672,356 61,696
OTHER FINANCING SOURCES (USES)
Transfer (out)‐ (110,660) (110,660) ‐
TOTAL OTHER FINANCE SOURCES (USES)‐ (110,660) (110,660) ‐
NET CHANGE IN FUND BALANCE 216,500 500,000 561,696 61,696
FUND BALANCE JANUARY 1 769,685 937,248 936,765 (483)
FUND BALANCE DECEMBER 31 $ 986,185 $ 1,437,248 $ 1,498,461 $ 61,213
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ TRANSPORTATION IMPACT MITIGATION FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
BUDGETED AMOUNTS
Combining Statements & Schedules, 6‐25
2016 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 3,505,000 $ 3,505,000 $ 4,643,017 $ 1,138,017
Licenses and permits 256,000 256,000 285,560 29,560
Intergovernmental revenues 197,000 371,764 967,497 595,733
Charges for services ‐ ‐ 14,190 14,190
Contributions ‐ 1,785,500 89,510 (1,695,990)
Interest 5,000 5,000 83,412 78,412
Miscellaneous revenues ‐ ‐ 261 261
TOTAL REVENUES 3,963,000 5,923,264 6,083,447 160,183
EXPENDITURES
Current:
General government ‐ ‐ 392,821 392,821
Economic environment ‐ 599,564 84,177 (515,387)
Culture and recreation 840,000 1,335,684 450,782 (884,902)
Capital outlay:
General government 502,000 7,094,934 482,743 (6,612,191)
Public safety ‐ ‐ 503 503
Transportation 175,000 350,094 31,776 (318,318)
Culture and recreation 3,875,000 11,862,050 3,183,203 (8,678,847)
TOTAL EXPENDITURES 5,392,000 21,242,326 4,626,005 (16,616,321)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,429,000) (15,319,062) 1,457,442 16,776,504
OTHER FINANCING SOURCES (USES)
Transfer in 1,140,000 4,219,213 3,159,213 (1,060,000)
Transfer (out)‐ (1,000,000) (319,514) 680,486
Sale of capital assets ‐ 500,000 ‐ (500,000)
TOTAL OTHER FINANCE SOURCES (USES) 1,140,000 3,719,213 2,839,699 (2,240,486)
NET CHANGE IN FUND BALANCE (289,000) (11,599,849) 4,297,141 14,536,018
FUND BALANCE JANUARY 1 1,492,288 13,706,090 14,426,802 720,712
Prior Priod Adjustment ‐ ‐ (288,151) (288,151)
FUND BALANCES JANUARY 1 RESTATED 1,492,288 13,706,090 14,138,651 432,561
FUND BALANCE DECEMBER 31 $ 1,203,288 $ 2,106,241 $ 18,435,792 $ 14,968,579
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ MUNICIPAL FACILITIES CAPITAL IMPROVEMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐26
2015 Comprehensive Annual Financial Report City of Renton, Washington
ORIGINAL FINAL ACTUAL VARIANCE
REVENUES
Taxes $ 820,000 $ 820,000 $ 820,000 $‐
Licenses and permits 1,180,000 1,363,000 1,522,060 159,060
Intergovernmental revenues 3,837,000 13,630,198 7,839,027 (5,791,171)
Fines and forfeits ‐ ‐ 24,690 24,690
Contributions ‐ 526,171 273,806 (252,365)
Interest ‐ ‐ 23,142 23,142
TOTAL REVENUES 5,837,000 16,339,369 10,502,725 (5,836,644)
EXPENDITURES
Current:
Transportation ‐ ‐ 3,576,479 3,576,479
Capital outlay:
Transportation 6,667,000 23,296,288 8,524,329 (14,771,959)
Debt service:
Principal payment 146,298 146,298 ‐ (146,298)
Interest payment 3,292 3,292 1,372 (1,920)
TOTAL EXPENDITURES 6,816,590 23,445,878 12,102,180 (11,343,698)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (979,590) (7,106,509) (1,599,455) 5,507,054
OTHER FINANCING SOURCES (USES)
Transfer in 745,000 4,518,160 4,531,435 13,275
Transfer (out) (15,000) (15,000) (16,769) (1,769)
TOTAL OTHER FINANCE SOURCES (USES) 730,000 4,503,160 4,514,666 15,044
NET CHANGE IN FUND BALANCE (249,590) (2,603,349) 2,915,211 5,522,098
FUND BALANCE JANUARY 1 327,434 3,947,132 5,532,431 1,585,299
Prior Period Adjustment ‐ ‐ 48,738 48,738
FUND BALANCE JANUARY 1 327,434 3,947,132 5,581,169 1,634,037
FUND BALANCE DECEMBER 31 $ 77,844 $ 1,343,783 $ 8,496,380 $ 7,156,135
BUDGETED AMOUNTS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET TO ACTUAL ‐ GENERAL GOVERNMENT CAPITAL IMPROVEMENT FUND
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐27
2016 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 1,958,412 $ 188,053 $ 2,146,465
Investments at fair value 800,476 76,865 877,341
Receivables (net of allowances):
Customer accounts 29,191 8,827 38,018
Interest ‐ investments 6,540 1,259 7,799
Due from other governments 8,842 ‐ 8,842
Inventory of materials and supplies ‐ 59,106 59,106
Total current assets 2,803,461 334,110 3,137,571
Noncurrent assets:
Capital assets not being depreciated:
Land 784,080 2,683,200 3,467,280
Construction in progress 103,826 2,340 106,166
Capital assets, net of
accumulated depreciation:
Buildings, improvements and equipment 21,145,734 4,646,170 25,791,904
Total noncurrent assets 22,033,640 7,331,710 29,365,350
TOTAL ASSETS 24,837,101 7,665,820 32,502,921
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 79,399 125,947 205,346
TOTAL DEFERRED OUTFLOWS OF RESOURCES $79,399 $125,947 $205,346
COMBINING STATEMENT OF NET POSITION
NON‐MAJOR ENTERPRISE FUNDS
DECEMBER 31, 2016
Page 1 of 2
Combining Statements & Schedules, 6‐28
2016 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 186,257 $ 53,418 $ 239,675
Retainage payable 16,634 ‐ 16,634
Accrued wages and benefits payable 65,609 88,133 153,742
Accrued taxes payable 1,617 3,693 5,310
Custodial accounts ‐ 205,272 205,272
Unearned revenue 165,117 ‐ 165,117
Total current liabilities 435,234 350,516 785,750
Long‐term liabilities:
Accrued wages and benefits payable 12,506 36,152 48,658
Net pension liability 456,560 723,422 1,179,982
Total long‐term liabilities 469,066 759,574 1,228,640
TOTAL LIABILITIES 904,300 1,110,090 2,014,390
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 8,669 13,737 22,406
TOTAL DEFERRED INFLOWS OF RESOURCES 8,669 13,737 22,406
NET POSITION
Net investment in capital assets 22,033,640 7,331,710 29,365,350
Unrestricted 1,969,891 (663,770) 1,306,121
TOTAL NET POSITION $ 24,003,531 $ 6,667,940 $ 30,671,471
NON‐MAJOR ENTERPRISE FUNDS
COMBINING STATEMENT OF NET POSITION
DECEMBER 31, 2016
Page 2 of 2
Combining Statements & Schedules, 6‐29
2016 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
OPERATING REVENUES:
Charges for services $ 156,503 $ 1,781,880 $ 1,938,383
Miscellaneous 2,561,938 414,182 2,976,120
TOTAL OPERATING REVENUES 2,718,441 2,196,062 4,914,503
OPERATING EXPENSES:
Supplies 80,153 299,690 379,843
Personnel services 1,095,874 1,395,299 2,491,173
Contracted services 658,317 233,166 891,483
Taxes 2,214 10,821 13,035
Depreciation and amortization 1,138,024 233,634 1,371,658
TOTAL OPERATING EXPENSES 2,974,582 2,172,610 5,147,192
OPERATING INCOME (LOSS) (256,141) 23,452 (232,689)
NON‐OPERATING REVENUES (EXPENSES):
Intergovernmental revenues 53,760 ‐ 53,760
Interest revenues 11,766 1,271 13,037
Gain (loss) on capital assets ‐ (980) (980)
Other non‐operating revenues (expenses)1,500 906 2,406
NON‐OPERATING REVENUE NET OF EXPENSES 67,026 1,197 68,223
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS (189,115) 24,649 (164,466)
Capital Contributions 39,739 ‐ 39,739
Operating transfers (out) (83,500) ‐ (83,500)
CHANGE IN NET POSITION (232,876) 24,649 (208,227)
NET POSITION, JANUARY 1 24,236,407 6,643,291 30,879,698
NET POSITION, DECEMBER 31 $ 24,003,531 $ 6,667,940 $ 30,671,471
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
NON ‐ MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
BUSINESS‐TYPE ACTIVITIES
Combining Statements & Schedules, 6‐30
2016 Comprehensive Annual Financial Report City of Renton, Washington
T0TAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for services $ 2,738,565 $ 2,187,767 $ 4,926,332
Cash paid to suppliers for goods & services (733,470) (501,393) (1,234,863)
Cash paid to employees (1,047,888) (1,459,969) (2,507,857)
Other non‐operating receipts 1,500 906 2,406
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 958,707 227,311 1,186,018
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers to other funds (83,500) ‐ (83,500)
Operating grants 54,123 ‐ 54,123
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES (29,377) ‐ (29,377)
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment ‐ 990 990
Acquisition & construction of capital assets (294,219) (86,915) (381,134)
Capital grants 684,705 ‐ 684,705
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES 390,486 (85,925) 304,561
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for investments (296,967) (34,145) (331,112)
Interest on investments 11,917 2,445 14,362
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES (285,050) (31,700) (316,750)
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 1,034,766 109,686 1,144,452
CASH & CASH EQUIVALENTS, JANUARY 1 923,646 78,367 1,002,013
CASH & CASH EQUIVALENTS, DECEMBER 31 $ 1,958,412 $ 188,053 $ 2,146,465
BUSINESS‐TYPE ACTIVITIES
ENTERPRISE FUNDS
STATEMENT OF CASH FLOWS
NON‐MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 1 of 2
Combining Statements & Schedules, 6‐31
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
NON‐MAJOR
AIRPORT GOLF COURSE ENTERPRISE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ (256,141) $ 23,452 $ (232,689)
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 1,138,024 233,634 1,371,658
Other non‐operating revenue 1,500 906 2,406
(Increase) decrease in
accounts receivable 34,855 6,652 41,507
(Increase) decrease in inventory
& prepaid items ‐ 591 591
(Increase) decrease in deferred outflows
related to pensions (37,632) (48,493) (86,125)
Increase (decrease) in operating
accounts payable 79,941 45,756 125,697
Increase (decrease) in accrued taxes
& other short‐term liabilities (72,727) (4,063) (76,790)
Increase (decrease) in
customer deposits ‐ (14,947) (14,947)
Increase (decrease) in
unearned revenues (14,731) ‐ (14,731)
Increase (decrease) in accrued
employee leave benefits 8,959 (867) 8,092
Increase (decrease) in net pension liability
and deferred inflows related to pensions 76,659 (15,310) 61,349
Total adjustments 1,214,848 203,859 1,418,707
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 958,707 $ 227,311 $ 1,186,018
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Loss on disposal of capital assets $‐ $ 980 $ 980
Depreciation & amortization $ 1,138,024 $ 233,634 $ 1,371,658
ENTERPRISE FUNDS
BUSINESS‐TYPE ACTIVITIES
STATEMENT OF CASH FLOWS
NON‐MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 2 of 2
Combining Statements & Schedules, 6‐32
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
ASSETS
Current assets:
Cash & cash equivalents $ 8,175,360 $ 19,185,381 $ 27,360,741
Investments at fair value 3,341,574 7,841,780 11,183,354
Receivables (net of allowances):
Customer accounts 7,870 22,700 30,570
Interest ‐ investments 37,642 104,900 142,542
Interfund loan receivable ‐ 175,000 175,000
Inventory of materials and supplies 187,361 ‐ 187,361
Prepayments ‐ 159,017 159,017
Total current assets 11,749,807 27,488,778 39,238,585
Noncurrent assets:
Advances to other funds ‐ 525,000 525,000
Capital assets not being depreciated:
Construction in progress 238,534 ‐ 238,534
Capital assets, net of
accumulated depreciation:
Buldings, improvements and equipment 8,694,670 ‐ 8,694,670
Intangible assets 391,871 ‐ 391,871
Total noncurrent assets 9,325,075 525,000 9,850,075
TOTAL ASSETS 21,074,882 28,013,778 49,088,660
DEFERRED OUTFLOWS OF RESOURCES
Deferred amounts related to pensions 705,404 67,317 772,721
TOTAL DEFERRED OUTFLOWS OF RESOURCES $705,404 $67,317 $772,721
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
DECEMBER 31, 2016
Page 1 of 2
Combining Statements & Schedules, 6‐33
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
LIABILITIES
Current liabilities:
Accounts payable $ 765,074 $ 322,196 $ 1,087,270
Claims incurred but not reported ‐ 2,560,915 2,560,915
Retainage payable 2,379 ‐ 2,379
Due to other funds ‐ 89,876 89,876
Accrued employee wages and benefits 452,071 30,957 483,028
Accrued taxes payable 8,019 ‐ 8,019
Unearned revenue 21 ‐ 21
Capital leases payable 33,812 ‐ 33,812
Total current liabilities 1,261,376 3,003,944 4,265,320
Accrued employee wages and benefits 215,148 9,846 224,994
Capital leases payable 71,091 ‐ 71,091
Net pension liability 4,051,164 385,825 4,436,989
Total long‐term liabilities 4,337,403 395,671 4,733,074
TOTAL LIABILITIES 5,598,779 3,399,615 8,998,394
DEFERRED INFLOWS OF RESOURCES
Deferred amounts related to pensions 76,927 7,326 84,253
TOTAL DEFERRED INFLOWS OF RESOURCES 76,927 7,326 84,253
NET POSITION
Net investment in capital assets 9,220,172 ‐ 9,220,172
Unrestricted 6,884,408 24,674,154 31,558,562
TOTAL NET POSITION $ 16,104,580 $ 24,674,154 $ 40,778,734
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
DECEMBER 31, 2016
Page 2 of 2
Combining Statements & Schedules, 6‐34
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
OPERATING REVENUES:
Charges for services $ 16,111,475 $ 17,370,515 $ 33,481,990
Miscellaneous 187,524 18,229 205,753
TOTAL OPERATING REVENUES 16,298,999 17,388,744 33,687,743
OPERATING EXPENSES:
Supplies 1,879,432 10,758 1,890,190
Personnel services 6,282,534 581,974 6,864,508
Contracted services 4,046,558 2,785,928 6,832,486
Insurance ‐ 13,983,291 13,983,291
Taxes 3,289 50,315 53,604
Depreciation and amortization 2,247,349 ‐ 2,247,349
TOTAL OPERATING EXPENSES 14,459,162 17,412,266 31,871,428
OPERATING INCOME (LOSS) 1,839,837 (23,522) 1,816,315
NON‐OPERATING REVENUES (EXPENSES):
Intergovernmental revenues ‐ 42,430 42,430
Interest revenues 61,352 165,608 226,960
Gain (loss) on sale of capital assets 13,710 ‐ 13,710
Other non‐operating revenues (expenses)8,667 5,456 14,123
Interest expense (4,086) ‐ (4,086)
Insurance recoveries 19,500 261,563 281,063
NON‐OPERATING REVENUE NET OF EXPENSE 99,143 475,057 574,200
INCOME (LOSS) BEFORE CONTRIBUTIONS, TRANSFERS
AND SPECIAL ITEMS 1,938,980 451,535 2,390,515
Transfers in 354,903 ‐ 354,903
Transfers (out) (13,275) (1,939,876) (1,953,151)
Special items:
Transfer of fire operations (4,138,691) ‐ (4,138,691)
CHANGE IN NET POSITION (1,858,083) (1,488,341) (3,346,424)
NET POSITION, JANUARY 1 18,219,978 26,162,495 44,382,473
Prior period adjustment (257,315) ‐ (257,315)
NET POSITION, DECEMBER 31 $ 16,104,580 $ 24,674,154 $ 40,778,734
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Combining Statements & Schedules, 6‐35
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from other funds for services $ 16,309,653 $ 17,367,159 $ 33,676,812
Cash paid to suppliers for goods & services (5,596,781) (18,018,370) (23,615,151)
Cash paid to employees (6,345,827) (605,304) (6,951,131)
Other non‐operating receipts 28,167 267,019 295,186
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES 4,395,212 (989,496) 3,405,716
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 354,903 ‐ 354,903
Transfers to other funds (13,275) (1,850,000) (1,863,275)
Operating grants ‐ 42,430 42,430
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 341,628 (1,807,570) (1,465,942)
CASH FLOWS FROM CAPITAL
FINANCING ACTIVITIES:
Proceeds from the sale of equipment 91,215 ‐ 91,215
Acquisition & construction of capital assets (3,413,328) ‐ (3,413,328)
Principal payments on capital leases (32,706) ‐ (32,706)
Interest payments on capital leases (4,086) ‐ (4,086)
NET CASH PROVIDED (USED) BY
CAPITAL FINANCING ACTIVITIES (3,358,905) ‐ (3,358,905)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal proceeds from interfund loans ‐ 321,298 321,298
Proceeds from sale of investments 214,141 2,507,292 2,721,433
Interest on investments and loans 60,616 169,332 229,948
NET CASH PROVIDED (USED) BY
INVESTING ACTIVITIES 274,757 2,997,922 3,272,679
NET INCREASE (DECREASE) IN CASH &
CASH EQUIVALENTS 1,652,692 200,856 1,853,548
CASH & CASH EQUIVALENTS, JANUARY 1 6,522,668 18,984,525 25,507,193
CASH & CASH EQUIVALENTS, DECEMBER 31 $ 8,175,360 $ 19,185,381 $ 27,360,741
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 1 of 2
Combining Statements & Schedules, 6‐36
2016 Comprehensive Annual Financial Report City of Renton, Washington
TOTAL
EQUIPMENT INSURANCE INTERNAL
RENTAL FUND SERVICE FUNDS
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES:
Operating income (loss) $ 1,839,837 $ (23,522) $ 1,816,315
Adjustments to reconcile operating income
(loss) to net cash provided (used)
by operating activities:
Depreciation & amortization 2,247,349 ‐ 2,247,349
Other non‐operating revenue 28,167 267,019 295,186
(Increase) decrease in
accounts receivable 2,684 (19,862) (17,178)
(Increase) decrease in inventory
& prepaid items (6,729) (106,017) (112,746)
(Increase) decrease in deferred outflows
related to pensions (301,061) (27,912) (328,973)
Increase (decrease) in operating
accounts payable 339,227 220,898 560,125
Increase (decrease) in accrued taxes
& other short‐term liabilities 7,949 (1,302,959) (1,295,010)
Increase (decrease) in
unearned revenues 21 (1,723) (1,702)
Increase (decrease) in accrued
employee wages and benefits 29,303 (9,252) 20,051
Increase (decrease) in net pension liability
and deferred inflows related to pensions 208,465 13,834 222,299
Total adjustments 2,555,375 (965,974) 1,589,401
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES $ 4,395,212 $ (989,496) $ 3,405,716
NONCASH INVESTING, CAPITAL, AND
FINANCING ACTIVITIES
Depreciation & amortization $ 2,247,349 $‐ $ 2,247,349
FOR THE YEAR ENDED DECEMBER 31, 2016
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
Page 2 of 2
Combining Statements & Schedules, 6‐37
2016 Comprehensive Annual Financial Report City of Renton, Washington
BEGINNING ENDING
BALANCE DEBITS CREDITS BALANCE
ASSETS
Cash $ 934,177 $ 1,168,891 $ 1,344,229 $ 758,839
TOTAL ASSETS $ 934,177 $ 1,168,891 $ 1,344,229 $ 758,839
LIABILITIES
Vouchers and contracts payable $ 2,000 $ 1,342,229 $ 1,392,860 $ 52,631
Deposits payable 932,177 1,280,587 1,054,618 706,208
TOTAL LIABILITIES $ 934,177 $ 2,622,816 $ 2,447,478 $ 758,839
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND ‐ SPECIAL DEPOSIT
FOR THE YEAR ENDED DECEMBER 31, 2016
Page 1 of 1
Combining Statements & Schedules, 6‐38
2016 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7‐1
STATISTICAL SECTION
December 31, 2016
Presentations included in the Statistical Section of the Comprehensive Annual Financial Report (CAFR)
provide users detailed information as a context for understanding what the information in the financial
statements, note disclosures and the supporting schedules say about the government’s overall financial
health. The section is divided into five categories based on the following:
FINANCIAL TRENDS
These schedules contain trend information to help the reader understand how the government’s financial
performance and well‐being have changed over time.
REVENUE CAPACITY
These schedules present information to help the reader assess the government’s most significant local
revenue source – property tax.
DEBT CAPACITY
These schedules present information to help the reader assess the affordability of the government’s current
levels of outstanding debt and the government’s ability to issue additional debt in the future.
DEMOGRAPHIC AND ECONOMIC INFORMATION
These schedules offer demographic and economic indicators to help the reader understand the environment
within which the government’s financial activities take place.
OPERATING INFORMATION
These schedules contain service and infrastructure data to help the reader understand how the information
in the government’s financial report relates to the services the government provides and the activities it
performs.
20
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Statistical Section, 7 ‐2
20
1
6
Co
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An
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Bu
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Go
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To
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To
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PR
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Go
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‐
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9
3
35
,
5
1
7
,
8
3
9
43
,
2
1
1
,
3
6
9
62
,
6
5
0
,
3
9
2
51
,
2
4
0
,
4
0
1
42
,
3
0
7
,
2
7
1
42,576,260 41,976,155
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
:
Ch
a
r
g
e
s
fo
r
se
r
v
i
c
e
s
:
Wa
t
e
r
w
o
r
k
s
ut
i
l
i
t
y
32
,
0
7
8
,
6
9
0
31
,
1
1
0
,
0
6
1
33
,
2
7
8
,
3
4
5
35
,
5
4
5
,
3
0
8
43
,
0
0
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,
4
9
4
47
,
3
1
4
,
3
8
9
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,
0
2
4
,
6
2
6
51
,
3
5
4
,
4
7
5
53,263,702 53,685,591
Ai
r
p
o
r
t
96
5
,
8
0
9
1,
0
8
6
,
0
6
4
1,
2
5
4
,
7
3
2
2,
0
3
9
,
4
7
7
2,
2
9
4
,
3
8
3
2,
4
3
6
,
5
4
3
2,
4
9
4
,
4
3
6
2,
6
5
2
,
8
0
8
2,614,311 2,718,441
So
l
i
d
wa
s
t
e
ut
i
l
i
t
y
10
,
0
9
4
,
7
5
2
10
,
1
9
2
,
7
1
8
14
,
2
3
4
,
0
2
6
15
,
3
8
3
,
6
6
7
15
,
0
1
5
,
4
3
4
14
,
9
0
5
,
9
3
4
16
,
4
2
9
,
1
6
5
17
,
3
1
0
,
8
0
7
17,146,266 17,152,279
Go
l
f
co
u
r
s
e
2,
2
6
4
,
0
9
8
2,
2
6
2
,
8
4
1
2,
1
3
4
,
3
9
4
2,
0
9
5
,
7
5
1
2,
0
1
4
,
9
8
3
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1
2
8
,
4
5
2
2,
1
4
2
,
4
3
3
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1
2
7
,
5
1
2
2,302,635 2,196,062
To
t
a
l
Bu
s
i
n
e
s
s
‐ty
p
e
ch
a
r
g
e
s
45
,
4
0
3
,
3
4
9
44
,
6
5
1
,
6
8
4
50
,
9
0
1
,
4
9
7
55
,
0
6
4
,
2
0
3
62
,
3
2
8
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2
9
4
66
,
7
8
5
,
3
1
8
70
,
0
9
0
,
6
6
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73
,
4
4
5
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6
0
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75,326,914 75,752,373
Op
e
r
a
t
i
n
g
gr
a
n
t
s
an
d
co
n
t
r
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b
u
t
i
o
n
s
24
3
,
5
3
7
26
4
,
7
8
4
46
,
2
6
7
12
5
,
8
1
9
46
5
,
4
6
8
16
5
,
1
6
4
10
5
,
6
9
5
1,
1
0
8
,
9
2
0
704,367 8,400,008
Ca
p
i
t
a
l
gr
a
n
t
s
an
d
co
n
t
r
i
b
u
t
i
o
n
s
1,
7
6
1
,
8
0
2
6,
8
8
8
,
9
7
5
7,
5
5
6
,
7
0
1
1,
0
5
6
,
9
6
1
2,
4
7
3
,
3
0
9
7,
6
6
8
,
5
5
8
18
,
8
7
9
,
9
9
2
12
,
5
3
1
,
6
7
1
23,291,274 12,559,755
To
t
a
l
bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
pr
o
g
r
a
m
re
v
e
n
u
e
s
4
7
,
4
0
8
,
6
8
8
51
,
8
0
5
,
4
4
3
58
,
5
0
4
,
4
6
5
56
,
2
4
6
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9
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3
65
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2
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0
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1
74
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6
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89
,
0
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0
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99,322,555 96,712,136
To
t
a
l
pr
i
m
a
r
y
go
v
e
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n
m
e
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t
pr
o
g
r
a
m
re
v
e
n
u
e
s
94
,
4
7
8
,
5
5
3
$
97
,
0
7
7
,
9
7
9
$
10
2
,
7
8
3
,
5
5
8
$
91
,
7
6
4
,
8
2
2
$
10
8
,
4
7
8
,
4
4
0
$
13
7
,
2
6
9
,
4
3
2
$
14
0
,
3
1
6
,
7
4
8
$
12
9
,
3
9
3
,
4
6
4
$
141,898,815 $ 138,688,291 $
Ne
t
(e
x
p
e
n
s
e
)
/
r
e
v
e
n
u
e
Go
v
e
r
n
m
e
n
t
a
l
ac
t
i
v
i
t
i
e
s
(
5
4
,
9
0
1
,
8
5
7
)
$
(5
8
,
6
3
5
,
7
8
5
)
$
(6
2
,
0
6
9
,
9
1
0
)
$
(7
0
,
7
8
1
,
0
6
6
)
$
(6
5
,
2
0
8
,
4
0
6
)
$
(4
7
,
4
4
4
,
6
6
4
)
$
(6
1
,
1
6
2
,
0
1
4
)
$
(6
5
,
1
0
3
,
5
1
7
)
$
(68,244,581)$ (63,906,227)$
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
4
,
4
7
1
,
1
5
2
3,
4
8
0
,
2
9
8
4,
5
7
3
,
9
7
5
55
6
,
1
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7
9,
5
5
7
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7
16
,
0
2
7
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2
4
8
26
,
9
6
5
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2
2
21
,
5
8
3
,
6
0
6
31,412,420 20,753,740
To
t
a
l
pr
i
m
a
r
y
go
v
e
r
n
m
e
n
t
ne
t
ex
p
e
n
s
e
(5
0
,
4
3
0
,
7
0
5
)
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(5
5
,
1
5
5
,
4
8
7
)
$
(5
7
,
4
9
5
,
9
3
5
)
$
(7
0
,
2
2
4
,
9
3
9
)
$
(5
5
,
6
5
1
,
0
8
9
)
$
(3
1
,
4
1
7
,
4
1
6
)
$
(3
4
,
1
9
6
,
9
9
2
)
$
(4
3
,
5
1
9
,
9
1
1
)
$
(36,832,161)$ (43,152,487)$
Fi
s
c
a
l
Ye
a
r
Statistical Section, 7 ‐3
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
2
CH
A
N
G
E
S
IN
NE
T
PO
S
I
T
I
O
N
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
(a
c
c
r
u
a
l
ba
s
i
s
of
ac
c
o
u
n
t
i
n
g
)
Pa
g
e
2 of
2
GE
N
E
R
A
L
RE
V
E
N
U
E
S
AN
D
OT
H
E
R
CH
A
N
G
E
S
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
2
0
1
6
Go
v
e
r
n
m
e
n
t
a
l
ac
t
i
v
i
t
i
e
s
:
Ta
x
e
s
Pr
o
p
e
r
t
y
ta
x
e
s
23
,
1
0
6
,
5
7
8
$
29
,
3
8
1
,
0
3
6
$
32
,
3
0
0
,
3
1
9
$
32
,
5
8
6
,
8
8
4
$
33
,
3
0
9
,
9
7
5
$
33
,
9
3
2
,
2
9
0
$
32
,
5
3
6
,
5
3
3
$
35
,
1
1
2
,
6
6
9
$
35,418,323 $ 37,105,988 $
Ti
m
b
e
r
ta
x
e
s
‐
$
‐
‐
‐
‐
‐
Re
t
a
i
l
sa
l
e
s
ta
x
e
s
22
,
7
4
9
,
8
3
1
23
,
1
9
0
,
0
7
6
22
,
0
6
5
,
3
1
6
21
,
5
9
1
,
3
7
5
22
,
0
0
8
,
7
7
7
23
,
6
5
3
,
7
0
6
25
,
5
4
1
,
9
7
2
27
,
2
2
3
,
5
2
1
29,567,506 32,933,987
Bu
s
i
n
e
s
s
ta
x
e
s
11
,
9
6
2
,
8
7
9
14
,
9
4
5
,
1
7
3
14
,
8
7
6
,
4
9
6
16
,
8
8
3
,
8
8
8
16
,
8
7
0
,
2
8
4
17
,
6
3
2
,
7
5
9
16
,
4
3
9
,
5
0
2
18
,
5
7
5
,
3
5
0
20,561,270 26,376,964
Ex
c
i
s
e
ta
x
e
s
8,
2
3
6
,
8
7
6
4,
3
6
2
,
9
4
5
4,
9
2
3
,
9
7
8
4,
3
5
1
,
9
1
4
4,
1
1
3
,
7
0
5
4,
2
8
6
,
8
8
3
5,
8
3
8
,
1
4
9
4,
5
9
5
,
5
4
0
5,736,582 6,123,700
Pe
n
a
l
t
i
e
s
an
d
in
t
e
r
e
s
t
33
,
9
4
9
6,
4
7
7
1,
3
5
3
27
6
38
0
9,
4
8
6
‐
‐
‐
‐
In
v
e
s
t
m
e
n
t
ea
r
n
i
n
g
s
3,
4
6
5
,
5
1
7
2,
4
1
9
,
2
6
0
1,
1
1
8
,
8
8
9
79
4
,
7
9
3
60
2
,
5
1
6
58
9
,
6
1
6
61
3
,
0
9
7
1,
1
3
7
,
7
5
2
1,303,414 1,441,471
Mi
s
c
e
l
l
a
n
e
o
u
s
1,
2
1
8
,
8
8
9
2,
1
0
4
,
1
3
3
17
2
,
5
9
4
82
,
3
5
2
99
1
,
7
7
2
1,
1
7
9
,
1
1
2
1,
2
3
2
,
0
6
6
76
0
,
2
9
2
580,042 1,746,009
Ga
i
n
(l
o
s
s
)
on
sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
1
‐
‐
‐
‐
‐
‐
‐
(1
9
8
,
2
4
2
)
17,109 13,710
Tr
a
n
s
f
e
r
s
‐
11
0
,
0
0
0
(1
0
0
,
0
0
0
)
(1
7
,
0
9
5
)
37
,
4
5
4
23
3
,
9
6
1
2,
3
4
1
,
1
6
0
44
9
,
3
6
2
131,491 173,917
Sp
e
c
i
a
l
It
e
m
s
Tr
a
n
s
f
e
r
of
fi
r
e
op
e
r
a
t
i
o
n
s
(32,665,407)
Tr
a
n
s
f
e
r
of
li
b
r
a
r
y
as
s
e
t
s
(18,527,290)
To
t
a
l
go
v
e
r
n
m
e
n
t
a
l
ac
t
i
v
i
t
i
e
s
7
0
,
7
7
4
,
5
1
9
76
,
5
1
9
,
1
0
0
75
,
3
5
8
,
9
4
5
76
,
2
7
4
,
3
8
7
77
,
9
3
4
,
8
6
3
81
,
5
1
7
,
8
1
3
84
,
5
4
2
,
4
7
9
87
,
6
5
6
,
2
4
4
93,315,737 54,723,049
Bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
:
In
v
e
s
t
m
e
n
t
ea
r
n
i
n
g
s
1,
0
4
1
,
5
7
6
1,
1
2
0
,
3
4
2
39
6
,
9
5
7
22
4
,
9
7
4
11
7
,
0
9
0
10
5
,
1
2
9
94
,
0
7
7
96
,
6
2
5
225,515 332,931
Mi
s
c
e
l
l
a
n
e
o
u
s
13
5
,
9
8
6
85
,
4
9
3
1,
2
0
7
,
6
8
9
17
2
,
6
6
3
71
,
2
3
5
44
,
8
4
2
12
4
,
2
8
1
30
,
8
6
3
38,014 18,051
Ga
i
n
(l
o
s
s
)
on
sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
1
‐
‐
‐
‐
‐
‐
‐
93
,
7
7
3
(701,718) ‐
Tr
a
n
s
f
e
r
s
‐
(1
1
0
,
0
0
0
)
10
0
,
0
0
0
17
,
0
9
5
(3
7
,
4
5
4
)
(2
3
3
,
9
6
1
)
(2
,
3
4
1
,
1
6
0
)
(4
4
9
,
3
6
2
)
(131,491) (173,917)
To
t
a
l
bu
s
i
n
e
s
s
‐ty
p
e
ac
t
i
v
i
t
i
e
s
1
,
1
7
7
,
5
6
2
1,
0
9
5
,
8
3
5
1,
7
0
4
,
6
4
6
41
4
,
7
3
2
15
0
,
8
7
1
(8
3
,
9
9
0
)
(2
,
1
2
2
,
8
0
2
)
(2
2
8
,
1
0
1
)
(569,680) 177,065
To
t
a
l
pr
i
m
a
r
y
go
v
e
r
n
m
e
n
t
71
,
9
5
2
,
0
8
1
$
77
,
6
1
4
,
9
3
5
$
77
,
0
6
3
,
5
9
1
$
76
,
6
8
9
,
1
1
9
$
78
,
0
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CH
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Bu
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So
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t
y
of
Re
n
t
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Fi
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a
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Di
v
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s
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n
1 Pr
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r
to
20
1
4
Ga
i
n
(l
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s
s
)
on
sa
l
e
of
ca
p
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t
a
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as
s
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t
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we
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pr
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v
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p
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r
t
e
d
as
"M
i
s
c
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l
l
a
n
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o
u
s
"
.
Statistical Section, 7 ‐4
20
1
6
Co
m
p
r
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h
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n
s
i
v
e
An
n
u
a
l
Fi
n
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c
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p
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t
City of Renton, Washington
TA
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To
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So
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c
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: Ci
t
y
of
Re
n
t
o
n
Fi
n
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n
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Di
v
i
s
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n
1 In
20
1
1
,
im
p
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of
GA
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54
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w
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s
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t
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of
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;
pr
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a
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a
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s
Statistical Section, 7 ‐5
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
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l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
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4
CH
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IN
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s
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l
l
a
n
e
o
u
s
Re
v
e
n
u
e
s
8
6
,
3
2
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2
7
3
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3
5
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1
,
0
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4
82
,
3
5
3
64
8
,
6
0
8
94
2
,
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9
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3,036,059
To
t
a
l
re
v
e
n
u
e
s
9
9
,
8
4
8
,
8
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1
12
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,
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4
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5
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4
7
9
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6
141,556,96 0
EX
P
E
N
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I
T
U
R
E
S
Cu
r
r
e
n
t
Ge
n
e
r
a
l
go
v
e
r
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m
e
n
t
1
4
,
5
9
7
,
3
5
5
15
,
0
9
4
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1
4
0
12
,
9
2
3
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9
9
9
10
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5
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3
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10
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9
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7
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8
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6
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3
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4
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9
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3
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1
10
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1
4
2
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3
3
4
,
4
8
5
11,961,26 0
Ju
d
i
c
i
a
l
‐
1,
7
6
1
,
6
6
5
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6
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4
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2,536,835
Pu
b
l
i
c
sa
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e
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y
3
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47,619,491
Ut
i
l
i
t
i
e
s
2
,
7
6
4
,
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3
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1
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3
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8
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4
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9
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3
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46
8
,
4
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2
,
8
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23
6
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2
4
5
238,057
Tr
a
n
s
p
o
r
t
a
t
i
o
n
6
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13,631,32 4
Ec
o
n
o
m
i
c
en
v
i
r
o
n
m
e
n
t
5,
8
9
6
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5
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6
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2
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5
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4
4
7
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1
6
3
6,
2
8
3
,
2
6
4
6,
6
5
2
,
5
9
3
6,
0
8
8
,
2
9
5
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6
2
8
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1
3
6
7,130,65 0
He
a
l
t
h
an
d
hu
m
a
n
se
r
v
i
c
e
s
1
3
,
8
1
8
16
,
4
5
9
19
,
7
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6
78
7
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7
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8
51
1
,
9
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3
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8
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6
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8
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2
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8
7
6
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2,068,295
Cu
l
t
u
r
e
an
d
re
c
r
e
a
t
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o
n
1
0
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8
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11,786,172
Ca
p
i
t
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t
l
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y
2
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3
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8
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1
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2
7
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12,637,64 9
De
b
t
se
r
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Pr
i
n
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m
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s
1
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9
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6
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8
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4
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5
4,530,21 6
In
t
e
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e
s
t
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d
fi
s
c
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l
ch
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r
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e
s
2
,
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6
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2
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3
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1,570,322
To
t
a
l
ex
p
e
n
d
i
t
u
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s
1
0
9
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6
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2
,
1
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7
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6
6
7
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4
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4
115,710,27 1
EX
C
E
S
S
(D
E
F
I
C
I
E
N
C
Y
)
OF
RE
V
E
N
U
E
S
OV
E
R
EX
P
E
N
D
I
T
U
R
E
S
(
9
,
7
7
3
,
1
3
6
)
(2
,
5
7
1
,
0
4
8
)
(9
,
7
7
3
,
1
3
6
)
(2
,
5
7
1
,
0
4
8
)
(2
4
,
8
5
4
,
2
6
7
)
(2
,
0
5
9
,
9
9
7
)
(1
,
0
3
8
,
0
1
5
)
2,
6
2
9
,
7
9
0
(1
8
7
,
5
1
8
)
25,846,68 9
OT
H
E
R
FI
N
A
N
C
I
N
G
SO
U
R
C
E
S
(U
S
E
S
)
Tr
a
n
s
f
e
r
s
in
5
,
7
8
2
,
9
8
8
4,
0
5
3
,
6
0
7
15
,
0
5
9
,
6
4
9
2,
5
4
5
,
6
5
9
3,
8
8
6
,
6
5
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4,
1
8
3
,
1
8
5
5,
8
6
0
,
0
3
8
5,
1
7
5
,
9
3
3
9,
3
2
6
,
6
2
9
10,252,88 6
Tr
a
n
s
f
e
r
(o
u
t
)
(
5
,
7
8
2
,
9
8
8
)
(4
,
2
0
0
,
6
0
7
)
(1
0
,
4
4
6
,
0
0
0
)
(2
,
8
2
2
,
3
3
0
)
(4
,
1
4
4
,
1
5
7
)
(4
,
1
1
3
,
4
6
5
)
(6
,
1
0
2
,
5
8
4
)
(8
,
4
6
3
,
2
8
5
)
(1
0
,
7
8
6
,
0
4
3
)
(8,480,721)
In
t
e
r
f
u
n
d
lo
a
n
pr
o
c
e
e
d
s
‐
‐
6,
7
9
8
,
0
8
5
‐
‐
‐
‐
‐
‐
‐
Re
f
u
n
d
i
n
g
bo
n
d
s
is
s
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d
‐
‐
‐
6,
1
7
0
,
0
0
0
9,
4
2
5
,
0
0
0
‐
‐
‐
12
,
5
2
0
,
0
0
0
‐
GO
Bo
n
d
s
is
s
u
e
d
‐
‐
‐
‐
16
,
7
1
5
,
0
0
0
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3,
2
0
0
,
0
0
0
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‐
‐
Pr
e
m
i
u
m
on
ge
n
e
r
a
l
ob
l
i
g
a
t
i
o
n
de
b
t
‐
‐
‐
44
3
,
4
8
4
2,
2
6
8
,
1
6
9
‐
‐
‐
1,
1
7
1
,
8
0
4
‐
Sa
l
e
of
ca
p
i
t
a
l
as
s
e
t
s
2
4
,
2
1
8
20
,
6
4
3
‐
‐
50
0
37
5
,
0
3
9
9,
8
2
1
5,
1
7
0
‐
‐
Pa
y
m
e
n
t
to
re
f
u
n
d
e
d
bo
n
d
es
c
r
o
w
ag
e
n
t
‐
‐
‐
(6
,
4
0
6
,
0
8
8
)
(9
,
9
5
0
,
0
0
0
)
‐
‐
‐
(1
3
,
5
7
3
,
3
4
1
)
‐
In
s
u
r
a
n
c
e
Re
c
o
v
e
r
i
e
s
‐
‐
‐
‐
‐
‐
‐
14
,
6
6
6
14
,
7
2
4
29,061
To
t
a
l
ot
h
e
r
fi
n
a
n
c
i
n
g
so
u
r
c
e
s
(u
s
e
s
)
2
4
,
2
1
8
(1
2
6
,
3
5
7
)
11
,
4
1
1
,
7
3
4
(6
9
,
2
7
5
)
18
,
2
0
1
,
1
6
2
44
4
,
7
5
9
18
,
2
0
1
,
1
6
2
(3
,
2
6
7
,
5
1
6
)
(1
,
3
2
6
,
2
2
7
)
1,801,22 6
SP
E
C
I
A
L
IT
E
M
S
Tr
a
n
s
f
e
r
of
fi
r
e
op
e
r
a
t
i
o
n
s
(12,300,367)
To
t
a
l
sp
e
c
i
a
l
it
e
m
s
‐
‐
‐
‐
‐
‐
‐
‐
‐
(12,300,367)
Ne
t
ch
a
n
g
e
in
fu
n
d
ba
l
a
n
c
e
(
9
,
7
4
8
,
9
1
8
)
$
(2
,
6
9
7
,
4
0
5
)
$
(9
,
7
4
8
,
9
1
8
)
$
(2
,
6
9
7
,
4
0
5
)
$
(1
3
,
4
4
2
,
5
3
3
)
$
(2
,
1
2
9
,
2
7
2
)
$
17
,
1
6
3
,
1
4
7
$
(6
3
7
,
7
2
6
)
$
(1
,
5
1
3
,
7
4
5
)
$
15,347,54 8 $
De
b
t
se
r
v
i
c
e
as
a pe
r
c
e
n
t
a
g
e
of
no
n
ca
p
i
t
a
l
ex
p
e
n
d
i
t
u
r
e
s
5.
2
5
%
5
.
0
9
%
5
.
0
8
%
4
.
9
1
%
5
.
1
8
%
7
.
7
0
%
7
.
9
8
%
7
.
9
8
%
5
.
8
8
%
5
.
9
2
%
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
Ta
b
l
e
s
pr
i
o
r
to
20
1
0
us
e
d
th
e
ti
t
l
e
s
"S
e
c
u
r
i
t
y
of
pe
r
s
o
n
s
an
d
pr
o
p
e
r
t
y
"
an
d
"M
e
n
t
a
l
an
d
ph
y
s
i
c
a
l
he
a
l
t
h
"
fo
r
fu
n
c
t
i
o
n
s
no
w
be
i
n
g
re
f
e
r
r
e
d
to
as
"P
u
b
l
i
c
Sa
f
e
t
y
"
an
d
"H
e
a
l
t
h
an
d
Hu
m
a
n
Se
r
v
i
c
e
s
"
,
re
s
p
e
c
t
i
v
e
l
y
.
Ta
b
l
e
s
Pr
i
o
r
to
20
1
3
us
e
d
the title "Physical
en
v
i
r
o
n
m
e
n
t
"
fo
r
fu
n
c
t
i
o
n
s
no
w
be
i
n
g
re
f
e
r
r
e
d
to
as
"U
t
i
l
i
t
i
e
s
"
.
Statistical Section, 7 ‐6
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
5
WA
T
E
R
UT
I
L
I
T
Y
SY
S
T
E
M
S
RE
V
E
N
U
E
IN
F
O
R
M
A
T
I
O
N
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
1
20
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
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Statistical Section, 7 ‐7
20
1
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B
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6
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Statistical Section, 7 ‐8
20
1
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o
n
e
w
a
y
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c
k
an
d
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c
y
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l
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n
g
5
7
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9
4
3
8
0
.
5
9
%
2
6
,
0
5
4
7
0
.
8
6
%
CP
T
Th
e
La
n
d
i
n
g
LL
C
5
7
,
3
3
6
9
0
.
5
8
%
Th
e
Kr
o
g
e
r
Co
4
8
,
2
6
7
10
0
.
4
9
%
Va
l
l
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y
Me
d
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c
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l
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n
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4
3
0
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0
.
6
4
%
AM
B
Pr
o
p
e
r
t
i
e
s
18
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3
3
4
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0
.
6
0
%
Al
l
Ot
h
e
r
4,
0
1
6
,
0
5
3
40
.
5
4
%
1
,
4
0
7
,
1
3
5
46.18%
Si
n
g
l
e
Fa
m
i
l
y
3,
6
0
5
,
1
3
5
36
.
3
9
%
9
6
4
,
1
0
9
31.64%
To
t
a
l
Re
v
e
n
u
e
9
,
9
0
7
,
0
4
4
$
10
0
.
0
0
%
3
,
0
4
7
,
2
6
2
$
100.00%
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
Statistical Section, 7 ‐9
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
6
PR
I
N
C
I
P
A
L
RA
T
E
P
A
Y
E
R
S
Pa
g
e
3 of
3
WA
S
T
E
W
A
T
E
R
20
1
6
2
0
0
7
% of
To
t
a
l
%
of Total
Ra
t
e
p
a
y
e
r
R
e
v
e
n
u
e
R
a
n
k
R
e
v
e
n
u
e
R
e
v
e
n
u
e
R
a
n
k
R
e
v
e
n
u
e
Bo
e
i
n
g
Co
m
m
e
r
c
i
a
l
2
4
9
,
7
8
4
$
1
2
.
5
7
%
1
0
3
,
6
8
6
$
1
2
.
1
5
%
Pu
b
l
i
c
Ho
s
p
Di
s
t
#1
of
KC
9
5
,
8
5
3
2
0
.
9
9
%
8
5
,
3
4
7
2
1
.
7
7
%
G an
d
K Se
r
v
i
c
e
s
9
2
,
0
4
1
3
0
.
9
5
%
3
1
,
0
9
8
9
0
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6
4
%
HS
C
Re
a
l
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t
a
t
e
(A
x
i
s
Gr
a
n
d
)
7
9
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4
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7
4
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8
2
%
4
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2
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5
5
0
.
8
3
%
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a
n
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C
On
e
,
LL
C
7
8
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4
1
5
0
.
8
0
%
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y
a
l
Hi
l
l
s
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e
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v
a
t
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7
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7
1
6
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7
5
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2
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2
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4
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0
.
5
6
%
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p
p
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d
g
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n
t
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C
6
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2
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5
%
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p
l
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w
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6
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7
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8
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6
3
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c
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2
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6
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3
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3
7
%
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t
y
of
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n
t
o
n
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7
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6
7
2
10
0
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5
9
%
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0
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2
8
3
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5
%
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g
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s
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36
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7
6
%
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e
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b
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r
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at
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34
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5
8
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7
2
%
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l
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h
e
r
3,
6
7
0
,
1
9
3
37
.
7
2
%
1
,
9
9
2
,
2
5
3
41.26%
Si
n
g
l
e
Fa
m
i
l
y
5,
1
4
9
,
2
1
1
52
.
9
2
%
2
,
3
1
5
,
8
5
1
47.96%
To
t
a
l
Re
v
e
n
u
e
9
,
7
2
9
,
7
4
4
$
10
0
.
0
0
%
4
,
8
2
8
,
2
8
8
$
100.00%
So
u
r
c
e
: Ci
t
y
of
Re
n
t
o
n
Fi
n
a
n
c
e
Di
v
i
s
i
o
n
Statistical Section, 7 ‐10
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
E
S
LA
S
T
10
FI
S
C
A
L
YE
A
R
S
1
Pa
g
e
1 of
3
20
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
2
0
1
6
Wa
t
e
r
Ra
t
e
s
Mo
n
t
h
l
y
Ra
t
e
s
Ba
s
i
c
Ch
a
r
g
e
3/
4
"
1
1
.
9
3
1
0
.
1
0
1
0
.
6
0
1
1
.
6
6
1
3
.
7
6
1
5
.
9
6
1
6
.
7
6
1
7
.
6
0
1
7
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6
0
1
7
.
6
0
1"
1
4
.
9
4
2
0
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9
1
2
1
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9
5
2
4
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1
5
2
8
.
5
0
3
3
.
0
6
3
4
.
7
1
3
4
.
8
9
3
4
.
8
9
3
4
.
8
9
1 1/
2
"
1
9
.
1
4
3
8
.
6
3
4
0
.
5
6
4
4
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6
2
5
2
.
6
5
6
1
.
0
7
6
4
.
1
2
6
7
.
3
3
6
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3
3
6
7
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3
3
2"
3
3
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4
6
6
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5
4
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3
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5
6
6
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2
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5
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5
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5
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5
2
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9
9
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6
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4
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2
1
6
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8
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6
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8
1
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6
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8
1
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1
4
3
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2
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e
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r
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t
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2
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t
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fo
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pr
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s
pr
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v
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d
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d
wh
e
r
e
av
a
i
l
a
b
l
e
.
Statistical Section, 7 ‐11
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
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l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
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S
LA
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T
10
FI
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C
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g
e
2 of
3
20
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2
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2
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2
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2
0
1
1
2
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1
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6
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2
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6
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3
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3
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1
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pr
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d
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d
wh
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av
a
i
l
a
b
l
e
.
Statistical Section, 7 ‐12
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
7
WA
T
E
R
UT
I
L
I
T
Y
RA
T
E
S
LA
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T
10
FI
S
C
A
L
YE
A
R
S
1
Pa
g
e
3 of
3
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2
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3
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6
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r
f
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Mo
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<=
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In
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In
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Statistical Section, 7 ‐13
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
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a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
8
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N
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L
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Statistical Section, 7 ‐14
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
9
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N
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% OF
TO
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%
OF TOTAL
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1
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%
6
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1 6.86%
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5
5
3
,
1
5
8
9 0.34%
BR
E
‐FM
C
A
LL
C
c/
o
Br
e
Pr
o
p
e
r
t
i
e
s
42
,
6
1
8
,
0
0
0
7
0
.
3
1
%
34
,
8
1
9
,
4
6
9
8 0.36%
Wa
l
m
a
r
t
3
9
,
6
4
2
,
0
3
5
8
0
.
2
9
%
FP
‐FA
A
Se
a
t
t
l
e
LL
C
(R
e
n
t
o
n
Ac
q
u
i
s
i
t
i
o
n
LL
C
)
3
8
,
5
2
8
,
7
0
0
9
0
.
2
8
%
Re
n
t
o
n
Pr
o
p
e
r
t
i
e
s
LL
C
3
7
,
8
7
0
,
9
0
0
10
0
.
2
7
%
Pr
o
v
i
d
e
n
c
e
He
a
l
t
h
67
,
4
7
5
,
4
0
0
4 0.70%
Bl
a
c
k
Ri
v
e
r
JV
LL
C
(f
o
r
m
e
r
l
y
EC
I
Tw
o
WT
C
LL
C
)
AM
B
Pr
o
p
e
r
t
y
Co
r
p
57
,
4
8
1
,
8
0
0
5 0.60%
EC
I
Tw
o
WT
C
LL
C
(W
T
C
T
P
I
LL
C
)
35
,
1
8
4
,
5
0
0
7 0.36%
Qw
e
s
t
32
,
4
6
1
,
2
0
7
10 0.34%
Al
l
Ot
h
e
r
s
1
2
,
3
8
3
,
5
4
0
,
9
4
6
89
.
6
5
%
8
,
4
9
6
,
9
6
9
,
2
4
1
87.96%
To
t
a
l
As
s
e
s
s
e
d
Va
l
u
a
t
i
o
n
1
3
,
8
1
2
,
7
7
3
,
1
5
9
$
10
0
.
0
0
%
9
,
6
5
9
,
6
7
7
,
6
5
4
$
100.00%
So
u
r
c
e
:
1 Ki
n
g
Co
u
n
t
y
De
p
a
r
t
m
e
n
t
of
As
s
e
s
s
m
e
n
t
s
Statistical Section, 7 ‐15
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
FI
S
C
A
L
YE
A
R
CO
M
M
E
R
C
I
A
L
PR
O
P
E
R
T
Y
IN
D
U
S
T
R
I
A
L
PR
O
P
E
R
T
Y
RE
S
I
D
E
N
T
I
A
L
PR
O
P
E
R
T
Y
LE
S
S
:
EX
E
M
P
T
RE
A
L
PR
O
P
E
R
T
Y
4
PE
R
S
O
N
A
L
PR
O
P
E
R
T
Y
3
AD
J
U
S
T
M
E
N
T
S
TO
BA
S
E
2
TO
T
A
L
TA
X
A
B
L
E
AS
S
E
S
S
E
D
VA
L
U
E
3
DIRECT TAX RATE 3
20
0
7
$
2
,
1
9
2
,
9
5
2
,
2
0
0
1
,
2
7
9
,
5
8
2
,
2
0
0
$
5,
6
5
9
,
2
3
2
,
6
5
0
$
98
2
,
6
7
0
,
2
5
0
$
75
4
,
3
2
6
,
3
2
5
$
(5
3
2
,
6
2
1
,
6
2
0
)
$
8,
3
7
0
,
8
0
1
,
5
0
5
$
2.884
20
0
8
2
,
7
9
2
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8
4
4
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6
9
7
1,
4
4
8
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0
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0
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3
7
2
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2
3
8
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6
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0
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2
5
7
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8
4
9
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3
0
0
82
8
,
7
4
6
,
9
9
4
(2
,
5
2
4
,
8
8
1
,
3
3
7
)
9,
6
5
9
,
6
7
7
,
6
5
4
2.624
20
0
9
2
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8
8
3
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1
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9
9
1
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5
2
0
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3
3
9
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1
0
0
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1
9
9
,
7
3
8
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2
9
5
1,
3
6
5
,
8
1
9
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7
0
0
88
5
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4
9
0
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6
7
6
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1
1
0
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3
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7
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4
1
8
13
,
2
3
3
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4
4
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7
8
0
2.369
20
1
0
2
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8
7
7
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61
3
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6
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9
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11
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8
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4
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2.712
20
1
1
3
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0
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6
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8
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7
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6
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89
1
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8
9
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4
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4
11
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4
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6
6
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6
1
2.832
20
1
2
2
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9
7
1
,
3
5
9
,
3
9
3
1,
3
7
3
,
7
7
8
,
0
5
6
6,
4
8
2
,
4
6
7
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3
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7
1,
5
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5
,
0
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7
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6
0
0
80
6
,
8
2
1
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1
8
8
76
6
,
0
8
0
,
0
9
3
10
,
8
1
5
,
4
5
8
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5
1
7
3.100
20
1
3
2
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6
9
3
,
6
0
0
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1
9
1
1,
3
1
2
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0
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2
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8
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6,
7
5
3
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0
3
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7
8
4
51
1
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2
9
7
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2
7
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80
6
,
2
9
9
,
4
7
8
(4
6
4
,
9
1
6
,
7
7
9
)
10
,
5
8
8
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7
2
1
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1
9
9
3.100
20
1
4
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4
3
3
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5
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7
3
0
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7
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9
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94
9
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2
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(7
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3
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0
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8
)
11
,
3
3
2
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2
6
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1
3
3.152
20
1
5
2
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5
0
9
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9
2
8
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4
5
0
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1
4
7
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6
5
3
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7
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4
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6
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2
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0
59
2
,
7
6
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4
5
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92
3
,
3
2
5
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6
4
1
15
4
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0
1
3
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4
9
8
12
,
9
3
6
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7
5
7
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2.833
20
1
6
2
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6
8
1
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7
1
1
,
0
5
0
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2
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1
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7
8
8
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64
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93
5
,
8
4
9
,
1
5
0
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9
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9
7
7
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13
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2.710
Ta
x
ra
t
e
fo
r
ge
n
e
r
a
l
Ci
t
y
op
e
r
a
t
i
o
n
s
is
li
m
i
t
e
d
to
$3
.
1
0
pe
r
$1
,
0
0
0
of
as
s
e
s
s
e
d
va
l
u
e
(R
C
W
84
.
5
2
.
0
4
3
)
.
Ta
x
ra
t
e
li
m
i
t
ma
y
be
re
d
u
c
e
d
fo
r
an
y
of
th
e
fo
l
l
o
w
i
n
g
re
a
s
o
n
s
:
Le
v
y
Li
m
i
t
;
Th
e
On
e
Pe
r
c
e
n
t
Co
n
s
t
i
t
u
t
i
o
n
Li
m
i
t
;
Ci
t
y
ma
y
le
v
y
ta
x
e
s
be
l
o
w
th
e
le
g
a
l
li
m
i
t
.
Fo
r
fu
r
t
h
e
r
ex
p
l
a
n
a
t
i
o
n
re
f
e
r
to
No
t
e
4 Pr
o
p
e
r
t
y
Ta
x
e
s
.
TA
B
L
E
10
AS
S
E
S
S
E
D
VA
L
U
E
OF
TA
X
A
B
L
E
PR
O
P
E
R
T
Y
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
RE
A
L
PR
O
P
E
R
T
Y
1
4 Ch
a
n
g
e
to
st
a
t
e
la
w
(R
C
W
84
.
40
.
0
4
5
an
d
84
.
4
0
.
1
7
5
)
by
th
e
20
1
3
Le
g
i
s
l
a
t
u
r
e
el
i
m
i
n
a
t
e
d
re
v
a
l
u
a
t
i
o
n
of
go
v
e
r
n
m
e
n
t
ow
n
e
d
pa
r
c
e
l
s
.
2 In
c
l
u
d
e
s
ad
j
u
s
t
m
e
n
t
s
to
th
e
ta
x
ba
s
e
fo
r
se
n
i
o
r
ci
t
i
z
e
n
ex
e
m
p
t
i
o
n
s
,
pr
i
o
r
ye
a
r
om
i
t
s
,
et
c
.
3 Ki
n
g
Co
u
n
t
y
As
s
e
s
s
o
r
An
n
u
a
l
Re
p
o
r
t
s
No
t
e
:
20
0
8
an
d
20
0
9
Ad
j
u
s
t
m
e
n
t
s
to
Ba
s
e
re
f
l
e
c
t
th
e
Be
n
s
o
n
Hi
l
l
An
n
e
x
a
t
i
o
n
1 Ki
n
g
Co
u
n
t
y
De
p
a
r
t
m
e
n
t
of
As
s
e
s
s
m
e
n
t
s
Da
t
a
;
pr
i
o
r
ye
a
r
da
t
a
ha
s
be
e
n
up
d
a
t
e
d
wi
t
h
cu
r
r
e
n
t
me
t
h
o
d
of
da
t
a
co
l
l
e
c
t
i
o
n
vi
a
Ci
t
y
of
Re
n
t
o
n
GI
S
Se
r
v
i
c
e
s
.
So
u
r
c
e
s
:
$2
.
8
8
$2
.
6
2
$2
.
3
7
$2
.
7
1
$2
.
8
3
$3
.
1
0
$3
.
1
0
$3
.
1
5
$2
.
8
3
$2
.
7
1
2.0002.5003.0003.5004.0004.5005.0005.5006.000
$‐
$2
$4
$6
$8
$1
0
$1
2
$1
4
$1
6
20
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
2
0
1
6
B
i
l
l
i
o
n
s
To
t
a
l
Ta
x
a
b
l
e
As
s
e
s
s
e
d
Va
l
u
e
Di
r
e
c
t
Ta
x
Ra
t
e
Statistical Section, 7 ‐16
20
1
6
Co
m
p
r
e
h
e
n
s
i
v
e
An
n
u
a
l
Fi
n
a
n
c
i
a
l
Re
p
o
r
t
City of Renton, Washington
TA
B
L
E
11
PR
O
P
E
R
T
Y
TA
X
RA
T
E
S
DI
R
E
C
T
AN
D
OV
E
R
L
A
P
P
I
N
G
GO
V
E
R
N
M
E
N
T
S
LA
S
T
TE
N
FI
S
C
A
L
YE
A
R
S
DI
R
E
C
T
RA
T
E
S
OV
E
R
L
A
P
P
I
N
G
RA
T
E
S
CI
T
Y
OF
RE
N
T
O
N
C
O
N
S
O
L
I
D
A
T
E
D
LE
V
Y
S
C
H
O
O
L
DI
S
T
R
I
C
T
FI
S
C
A
L
YE
A
R
OP
E
R
A
T
I
N
G
MI
L
L
A
G
E
DE
B
T
SE
R
V
I
C
E
MI
L
L
A
G
E
TO
T
A
L
CI
T
Y
MI
L
L
A
G
E
St
a
t
e
of
Wa
s
h
i
n
g
t
o
n
KI
N
G
CO
U
N
T
Y
OP
E
R
A
T
I
N
G
MI
L
L
A
G
E
KI
N
G
CO
U
N
T
Y
DE
B
T
SE
R
V
I
C
E
MI
L
L
A
G
E
Po
r
t
(O
p
e
r
a
t
i
n
g
an
d
De
b
t
)
To
t
a
l
Co
n
s
o
l
i
d
a
t
e
d
Le
v
y
(S
t
a
t
e
,
Co
u
n
t
y
& Po
r
t
)
SP
E
C
I
A
L
DI
S
T
R
I
C
T
S
1
OP
E
R
A
T
I
N
G
MI
L
L
A
G
E
DE
B
T
SE
R
V
I
C
E
MI
L
L
A
G
E
BU
I
L
D
I
N
G
FU
N
D
MI
L
L
A
G
E
TOTAL SCHOOL MILLAGE TOTAL OVERLAPPING MILLAGETOTAL DIRECT AND OVERLAPPING MILLAGE
20
0
7
2
.
8
2
1
4
8
0.
0
6
2
5
2
2.
8
8
4
0
0
2.
3
2
5
3
5
1.
0
8
8
1
4
0.
2
0
1
4
2
0.
2
3
1
5
8
3.
8
4
6
4
9
0.
7
6
2
7
3
1.
4
0
0
7
3
2.
0
4
5
8
6
‐
3.44659 8.05581 10.93981
20
0
8
2
.
5
7
0
5
2
0.
0
5
3
3
0
2.
6
2
3
8
2
2.
1
3
2
3
3
1.
0
4
2
7
8
0.
1
6
4
9
2
0.
2
2
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Miscellaneous Statistical Section, 7 ‐19
2016 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 14
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
GOVERNMENTAL ACTIVITIES BUSINESS‐TYPE ACTIVITIES
FISCAL
YEAR
GENERAL
OBLIGATION
BONDS
SPECIAL
ASSESSMENT
BONDS
OTHER
GENERAL
OBLIGATION2
REVENUE
BONDS
OTHER LONG
TERM DEBT
TOTAL PRIMARY
GOVERNMENT
DEBT
PERCENTAGE
OF PERSONAL
INCOME1
DEBT PER
CAPITA
% of Actual
Taxable Value
of Property
2007 44,017,551$ ‐$ ‐$ 33,405,000$ 9,878,951$ 87,301,502$ 8.17% 1,448$ 1.23%
2008 41,938,000 ‐ ‐ 43,310,000 8,968,894 94,216,894 8.57% 1,196 1.04%
2009 39,039,834 ‐ 38,973,547 41,110,000 8,284,962 127,408,343 12.36% 1,523 0.98%
2010 36,990,612 ‐ 38,511,875 36,955,000 7,357,546 119,815,033 11.26% 1,318 0.96%
2011 52,993,407 ‐ 38,053,639 34,926,581 6,443,218 132,416,845 11.62% 1,430 1.01%
2012 46,743,675 ‐ 36,891,722 32,492,802 5,538,929 121,667,128 10.09% 1,296 1.15%
2013 46,103,944 ‐ 35,692,283 31,208,819 4,660,282 117,665,328 9.17% 1,232 1.12%
2014 41,882,832 ‐ 34,470,753 28,677,301 3,951,670 108,982,556 7.61% 1,122 1.11%
2015 37,399,331 ‐ 33,203,128 27,175,783 3,248,163 101,026,405 6.58% 1,026 0.96%
2016 32,867,371 ‐ 32,115,711 25,547,511 2,639,258 93,169,851 N/A 920 0.67%
Source : City of Renton Finance Division
1 The percentage of Personal Income column is based on personal income of King County. (See Table 20). Renton data is not available.
2 Other GO debt includes debt issued by related entities that are backed by the City's full faith and credit as well as intergovernmental loans.
$‐
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
General Obligation (Governmental)Other Long Term (Governmental)Revenue (Business‐Type)Other Long Term (Business‐Type)
Statistical Section, 7‐20
2016 Comprehensive Annual Financial Report City of Renton, Washington
GENERAL RATIO OF NET NET
OBLIGATION LESS DEBT NET BONDED DEBT BONDED
FISCAL ASSESSED BONDED SERVICE BONDED TO ASSESSED DEBT PER
YEAR POPULATION1 VALUE2 DEBT FUNDS DEBT VALUE CAPITA
2007 60,290 8,370,801,505$ 87,301,502$ 1,392,915$ 85,908,587$ 1.03% 1,425$
2008 78,780 9,659,677,654 94,216,894 1,270,936 92,945,958 0.96% 1,180
2009 83,650 13,233,244,780 127,408,343 367,652 127,040,691 0.96% 1,519
2010 90,927 11,884,728,440 119,815,033 1,009,555 118,805,478 1.00% 1,307
2011 92,590 11,480,466,361 132,416,845 1,032,360 131,384,485 1.14% 1,419
2012 93,910 10,815,458,517 121,667,128 1,160,000 120,507,128 1.11% 1,283
2013 95,540 10,588,721,199 117,665,328 1,279,231 116,386,097 1.10% 1,218
2014 97,130 11,332,326,913 108,982,556 1,639,891 107,342,665 0.95% 1,105
2015 98,470 12,936,757,619 101,026,405 2,368,177 98,658,228 0.76% 1,002
2016 101,300 13,812,773,159 93,169,851 2,428,018 90,741,833 0.66% 896
Sources:
1 Washington State Office of Financial Management ‐ prior year data updated to reflect actuals where adjusted
TABLE 15
RATIOS OF GENERAL BONDED DEBT OUTSTANDING TO ASSESSED VALUE
LAST TEN FISCAL YEARS
2King County Assessor Annual Reports
$‐
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Debt/Assessed Value Debt/Population
Statistical Section, 7‐21
20
1
6
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and parks facilities.Statistical Section, 7 ‐22
2016 Comprehensive Annual Financial Report City of Renton, Washington
NET % OF GO BOND2
GENERAL 1 LESS: GENERAL DEBT TO
FISCAL OBLIGATION AMOUNTS1 OBLIGATION ASSESSED2 ASSESSED PER3
YEAR DEBT AVAILABLE DEBT VALUE VALUE CAPITA
2007 44,017,551$ 1,392,915$ 42,624,636$ 8,370,801,505$ 0.51% 707$
2008 41,938,000 1,270,936 40,667,064 9,659,677,654 0.42% 516
2009 78,013,381 367,652 77,645,729 13,233,244,780 0.59% 928
2010 75,502,487 1,009,555 74,492,932 11,884,728,440 0.63% 819
2011 91,047,046 1,032,360 90,014,686 11,480,466,361 0.78% 972
2012 83,635,397 1,160,000 82,475,397 10,815,458,517 0.76% 878
2013 81,796,227 1,279,231 80,516,996 10,588,721,199 0.76% 843
2014 76,353,585 1,639,891 74,713,694 11,332,326,913 0.66% 769
2015 70,602,459 2,368,177 68,234,282 12,936,757,619 0.53% 693
2016 64,983,082 ‐ 64,983,082 13,812,773,159 0.47% 641
Source:
1 City of Renton Finance Division
2 King County Department of Assessments
3 Population Data can be found in Table 20
TABLE 17
PER CAPITA GENERAL OBLIGATION DEBT
LAST TEN FISCAL YEARS
$‐
$200
$400
$600
$800
$1,000
$1,200
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Statistical Section, 7‐23
2016 Comprehensive Annual Financial Report City of Renton, Washington
Utilities
GOVERNMENTAL UNIT
Debt
Outstanding1
Estimated Percent
Applicable2
Estimated Share of
overlapping debt
City of Renton Direct Debt 64,983,082$ 100% 64,983,082$
City of Renton Overlapping Debt 4
King County 3 764,587,000$ 3.24% 24,772,619$
Port of Seattle 283,620,000 3.24% 9,189,288
Renton School District #403 270,836,013 69.21% 187,445,605
Issaquah School District #411 497,008,537 2.84% 14,115,042
Kent School District #415 116,013,205 0.74% 857,454
Fire District 10‐1 4,137,168 0.12% 5,056
Fire District 40‐1 4,664,110 41.60% 1,940,442
King County Library 97,581,556 1.04% 1,014,848
City of Renton Overlapping Debt 239,340,354$
Total Direct and Overlapping Debt 304,323,435$
Sources:
2 King County Department of Assessments
TABLE 18
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
1 King County Department of Executive Services
⁴ Overlapping percentages are determined by checking within the levy codes of the reporting district to see which taxing districts overlap
with that reporting district. For example, within levy code 2100, the Renton School District and the King County Library district overlap with
the city and both have debt. Since they both have debt and they overlap with the City, those two districts are reported and the value within
that levy code is reported as overlapping with the school and library districts.
3 King County's gross outstanding debt excludes available cash in debt service funds, proprietary‐type debt, debt financed from component
unit, credit enhanced program.
Renton
21%
King County
8%
Schools
67%
Port of Seattle
3%
Others
1%
Statistical Section, 7‐24
2016 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 19
PLEDGED‐REVENUE COVERAGE
LAST TEN FISCAL YEARS
Ratio
Fiscal
Year Revenue2
Expenses without
Taxes/
Depreciation
Net Revenue
Available for
Debt Service Principal Interest Coverage1
2007 31,497,106$ 19,983,136$ 11,513,970$ 1,740,000$ 1,373,036$ 3.70
2008 30,186,705 21,195,370 8,991,335 1,810,000 1,803,687 2.49
2009 32,853,359 24,341,586 8,511,773 1,890,000 1,758,589 2.33
2010 33,885,499 25,546,607 8,338,892 1,955,000 1,689,455 2.29
2011 40,538,269 25,424,551 15,113,718 2,030,000 1,716,503 4.03
2012 44,534,579 27,225,957 17,308,622 2,115,000 1,529,260 4.75
2013 45,849,249 27,538,433 18,310,816 1,650,000 1,262,177 6.29
2014 48,247,542 29,685,885 18,561,657 2,545,000 1,212,328 4.94
2015 50,143,096 30,737,021 19,406,075 1,515,000 1,101,575 7.42
2016 50,614,218 39,147,449 11,466,769 1,585,000 850,491 4.71
Source: City of Renton Finance Division
2 Revenue includes interest revenue, and excludes charges for services and interfund taxes.
1 Bond financing requirements are that the average annual coverage is at least 1.25 times the annual debt service for Water and Sewer revenue
bonds.
WATER AND SEWER REVENUE BONDS:
Revenue Debt Service
3.70
2.49
2.33 2.29 4.03
4.75
6.29
4.94 7.42 4.71
$‐
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Water and Sewer Net Revenue available for debt service Debt Service Coverage
Statistical Section, 7‐25
2016 Comprehensive Annual Financial Report City of Renton, Washington
PER CAPITA
PERSONAL PERSONAL SCHOOL
POPULATION 1 INCOME 2 INCOME 3 ENROLLMENT 5 RATE 6
FISCAL MEDIAN RENTON SCHOOL
YEAR KING COUNTY RENTON KING COUNTY KING COUNTY AGE 4 DISTRICT KING COUNTY RENTON
2007 1,847,986 60,290 106,693,888,000$ 57,735$ 36.97 13,570 3.2% 3.3%
2008 1,875,020 78,780 109,927,858,000 58,628 37.00 13,836 3.9% 4.1%
2009 1,912,012 83,650 103,120,593,000 53,933 37.08 13,977 8.0% 8.6%
2010 1,937,809 90,927 106,401,739,000 54,908 37.24 13,600 9.1% 7.7%
2011 1,971,602 92,590 113,922,436,000 57,782 37.40 14,440 8.0% 6.8%
2012 2,007,440 93,910 120,627,950,000 60,090 37.72 14,590 6.4% 6.0%
2013 1,981,900 95,540 128,330,859,000 62,770 37.70 14,783 5.0% 4.7%
2014 2,017,250 97,130 143,260,986,000 68,877 37.74 15,080 4.6% 4.2%
2015 2,052,800 98,470 153,554,091,000 72,530 37.26 15,241 4.6% 4.3%
2016 2,105,100 101,300 * * 37.20 15,319 3.4% 3.2%
Sources:
1 Washington State Office of Financial Management ‐ prior year data updated to reflect actuals where adjusted
2 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
3 U.S. Bureau of Economic Analysis. Data shown is for King County. Specific data for the City of Renton is not available.
4 Washington State Office of Financial Management
5 Enrollment is based on entire Renton School District, which includes schools located outside city boundaries but excludes schools of Kent
and Issaquah school districts located within Renton city limits.
6 US Bureau of Labor Statistics; annual rates, not seasonally adjusted, 2010‐2014 are provisional and subject to change
* Data not available at time of publication
TABLE 20
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
UNEMPLOYMENT
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
King County Unemployment Rate City of Renton Unemployment Rate
Statistical Section, 7‐26
2016 Comprehensive Annual Financial Report City of Renton, Washington
2016 2007
EMPLOYER EMPLOYEES RANK CITY EMPLOYEES RANK CITY
BOEING COMPANY 16,774 1 26.74% 13,224 1 25.71%
VALLEY MEDICAL CENTER 2,547 2 4.06 2,400 2 4.67
RENTON SCHOOL DISTRICT 1,540 3 2.45 1,376 3 2.68
DOT ‐ FEDERAL AVIATION ADMINISTRATION 1,450 4 2.31 997 5 1.94
PROVIDENCE WA REGIONAL SERVICES 1,414 5 2.25 ‐‐
PACCAR INC 1,144 6 1.82 1,268 4 ‐‐‐
GROUP HEALTH COOPERATIVE 932 7 1.49 ‐‐
CITY OF RENTON 713 8 1.14 641 7
MCLENDON HARDWARE 641 9 1.02 ‐ ‐ ‐‐‐
WIZARDS OF THE COAST 445 10 0.71 ‐ ‐ ‐‐‐
‐‐‐0.00
RENTON TECHNICAL COLLEGE 378 13 ‐‐‐835 6 1.62
CONVERGENT OUTSOURCING INC 279 20 ‐‐‐524 8 1.02
K&L DISTRIBUTORS ALASKA 23 117 ‐‐‐392 9 0.76
IKEA 280 19 356 10
Total Principal Employers 27,600 44.00%22,013 42.80%
Total All Other Employers 35,132 56.00%29,425 57.20%
Total Employees working within Renton 62,732 100.00%51,438 100.00%
Sources:
Employee and Employer Data, Business License Data, City of Renton (2007, 2016)
Total Employees Working in Renton, PSRC (2007, 2016)
TABLE 21
PRINCIPAL EMPLOYERS
Statistical Section, 7‐27
2016 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 22
FULL TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
2007 20081 20092 20103 2011 20124 2013 2014 2015 20165
FUNCTION
General Government 95.0 155.6 163.8 143.3 143.5 147.3 135.4 139.4 143.4 151.0
Public Safety
Police
Commissioned Officers 122.0 124.0 121.0 123.0 123.0 123.0 121.5 119.0 121.0 124.0
Non‐Commissioned Officers 49.2 51.2 46.4 44.4 28.4 28.4 28.4 29.4 29.4 30.4
Fire
Commissioned Officers 109.0 118.0 137.0 136.0 145.0 145.0 140.0 145.0 145.0 0.0
Non‐Commissioned Officers 16.0 17.0 18.0 16.0 16.0 16.0 16.0 16.0 16.0 0.0
Public Works
Administration 49.0 4.0 3.5 3.0 3.0 3.0 3.0 3.0 2.0 2.0
Transportation Systems 40.5 41.0 37.0 33.0 33.0 33.0 31.0 31.0 31.0 33.5
Utility Systems 29.3 36.7 37.7 29.5 29.5 25.5 23.5 23.5 25.5 25.5
Maintenance Services 71.0 88.0 83.0 78.0 78.0 80.0 80.0 82.0 82.0 82.0
Culture and Recreation
Parks/Recreation/Facilities/Human Svs 81.0 89.5 86.3 81.8 82.8 83.6 80.0 80.0 80.0 83.0
Library 14.0 14.0 15.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Museum 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Golf Course 10.0 10.0 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5
Total 687.0 750.0 759.2 698.5 692.7 695.2 669.3 678.8 685.8 541.9
Source: City of Renton Finance Division
1 In 2008, Development Services moved from Public Works to Community and Economic Develoment which is listed under General Government.
2 In 2009, increase in Administrative, Judicial & Legal Services includes moving Legal Services in‐house and creation of a Communications Division which was
a reorganization of staffing from the Finance and Information Services Department and the Mayors Office
3 Operations of the Renton libraries transferred to King County Library System (KCLS) in 2010 as a result of voter‐approved annexation
4 Farmers's Market Program was moved from Community and Economic Department to Community Services Department in 2012.
5 City of Renton Fire and ES Services employees transferred to the Renton Regional Fire Authority on July 1, 2016.
Statistical Section, 7‐28
2016 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 23
OPERATING INDICATORS BY FUNCTION
LAST TEN FISCAL YEARS
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
FUNCTION
Public Safety
Police
Physical arrests 2,925 3,580 3,748 3,464 2,810 1,968 1,725 1,515 1,653 1,492
Parking violations 5,995 5,117 6,795 4,748 4,757 4,855 4,799 4,049 4,464 4,664
Traffic violations 9,148 10,705 14,220 13,829 8,805 7,943 8,388 5,925 4,828 5,152
Photo Enorcement Violations 1 ‐‐‐13,342 27,509 21,157 21,301 22,036 15,733 21,015 25,562 23,208
Infractions non traffic 330 268 314 240 446 16 210 149 125 53
Criminal non trafic 1,503 1,332 1,739 1,623 1,687 1,279 1,346 1,522 1,466 1,351
Fire2
Number of calls answered 10,159 12,402 12,840 13,045 12,752 13,667 13,848 14,337 14,945 ‐
Inspections 3,197 2,772 2,968 2,620 2,300 1,807 689 997 2,517 ‐
Transportation
Street resurfacing (miles) 1.59 2.59 3.08 2.65 2.07 2.19 0.84 2.82 1.67 0.44
Aircraft Operations 94,415 100,928 83,269 80,679 80,005 93,406 93,911 100,544 112,335 118,568
Physical/Economic Environment
Building Permits Received 4,281 3,856 3,450 3,646 3,642 3,912 4,237 4,287 4,898 4,830
Building Permits Issued 4,103 3,749 3,336 3,562 3,555 3,765 4,038 4,204 4,691 4,661
Public Works Permits Received 1,954 1,547 1,254 1,182 1,334 1,337 1,488 1,526 1,472 1,468
Public Works Permits Issued 1,794 1,457 1,205 1,162 1,245 1,328 1,411 1,493 1,359 1,437
Solid Waste Utility
Recyclables collected (tons/yr) 5,004 5,395 9,653 9,836 12,565 13,509 13,616 13,993 15,218 17,846
Culture and Recreation
Athletic field attendance 91,053 93,000 93,000 93,000 93,000 94,000 94,000 94,000 93,000 94,000
Community Center admissions 162,476 155,000 150,000 150,000 150,000 155,000 155,000 172,302 170,000 145,000
Rounds of Golf 62,190 61,100 60,300 55,450 54,350 58,680 56,180 55,600 56,775 51,546
2 The Renton Regional Fire Authority formed July 1, 2016 replaceing the City of Renton Fire Department.
Source: City of Renton
1 Photo Enforcement began in 2008.
Statistical Section, 7‐29
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Statistical Section, 7 ‐30
2016 Comprehensive Annual Financial Report City of Renton, Washington
TABLE 25
CAPITAL ASSETS STATISTICS BY FUNCTION
LAST TEN FISCAL YEARS
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
FUNCTION
Public safety
Police Stations 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Police Patrol Districts 7.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
Fire stations1 5.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 ‐
Transportation
Street (miles) 233.7 263.8 263.8 264.5 266.1 266.1 266.1 294.0 304.1 315.5
Streetlights 3,496 3,726 3,864 3,935 4,015 4,172 4,182 4,302 4,342 4,720
Culture and recreation
Parks acreage 1,160.0 1,181.0 1,183.0 1,183.0 1205.82 1,210.0 1,211.0 1,213.5 1,226.0 1,227.2
Parks 28.0 29.0 30.0 30.0 32.03 32.0 32.0 32.0 32.0 32.0
Swimming pools 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Tennis courts 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0
Community centers 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Waterworks Utility
Water mains (miles) 300.0 304.0 305.0 305.0 305.0 306.0 308.0 304.6 307.5 311.0
Fire hydrants 3,544 3,602 3,624 3,651 3,639 3,655 3,670 3,697 3,740 3,769
Sanitary sewers (miles) 206.3 215.7 216.4 217.7 219.3 219.9 223.4 225.9 231.2 232.1
Storm sewers (miles) 222.3 267.5 273.8 274.9 276.1 278.5 282.0 267.7 265.6 276.6
1City of Renton Fire and ES Services employees transferred to the Renton Regional Fire Authority on July 1, 2016.
Source: City of Renton Departments
2Includes Natural Area acreage, and developed/undeveloped park acreage for Neighborhood Parks, Community Parks, Regional Parks, Special Use Parks
and Corridors.
3Developed Neighborhood, Community, Regional and Special Use Parks only. Two new parks were part of Benson Hill Annexation not previously
accounted for – Parkwood South Div #3 and SE 186th Place Properties.
Statistical Section, 7‐31
2016 Comprehensive Annual Financial Report City of Renton, Washington
Statistical Section, 7‐31
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