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HomeMy WebLinkAboutMONTH 2022 04Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through April 30, 2022.  A detailed analysis, including budget to actual comparison, will be prepared quarterly in accordance with the City’s financial  management policies.     GENERAL FUND  The General Fund is used to account for resources that are not generally dedicated for a specific purpose. The General Fund  is used to meet the basic services that the City provides including, but not limited to, police protection, parks and recreation,  human services, municipal court, street maintenance and planning, economic development, and administrative functions.  The table below displays the year‐to‐date revenues and expenditures for the General Fund.    Economic Development and Operating reserves are established internally in accordance with the City’s Policy on Stabilization  Funds, as outlined in the 2021‐2022 Adopted Budget.     General REVENUES: Taxes 33,744,894$       Licenses and permits 2,804,243            Grants / intergovernmental 1,460,501            Charges for services 2,884,084            Fines and penalties 1,669,609            Miscellaneous 670,984               Sale of general fixed assets 2,000                    Investment Earnings 97,674                  Insurance recoveries 4,742                    TOTAL REVENUES 43,338,731          EXPENDITURES: Personnel 20,979,110          Supplies 515,869               Contracted Services 5,831,052            Capital Outlay 14,258                  Internal Services 4,318,836            TOTAL EXPENDITURES 31,884,434          Transfers In 14,187                  Transfers Out 5,779,918            NET TRANSFERS (5,765,731)           CHANGE IN FUND BALANCE 5,688,566            BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 3,851                    BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,106,513          ENDING FUND BALANCE, Apr 30 74,795,079$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 10,736,612          AVAILABLE FUND BALANCE, Apr 30 61,558,467$       Monthly Financial Report April 2022  Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 2 of 7   DEBT SERVICE FUND   Debt service funds are used to account for the accumulation of resources for the payment of principal and interest related to  the City’s general obligation bond issues. The table below displays the year‐to‐date revenues and expenditures for the City’s  debt service fund.    Debt service reserves are established internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the  2021‐2022 Adopted Budget.      SPECIAL REVENUE FUNDS  Special revenue funds are used to account for revenues that are to be used for a specific purpose as required by law or  legislative action. The table below displays the year‐to‐date revenues and expenditures for the City’s special revenue funds.  General  Governmental  Misc Debt REVENUES: Grants / intergovernmental ‐$                             Investment Earnings 5,631                      TOTAL REVENUES 5,631                      EXPENDITURES: Principal 195,873                 Interest 78,675                    TOTAL EXPENDITURES 274,548                 Transfers In 611,550                 NET TRANSFERS 611,550                 CHANGE IN FUND BALANCE 342,633                 BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Apr 30 5,560,758$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 2,843,183$            Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 3 of 7     CAPITAL PROJECT FUNDS  Capital project funds are used to account for the acquisition and construction of major capital facilities and equipment. The  table below displays the year‐to‐date revenues and expenditures for the City’s capital project funds.      Hotel‐Motel Tax Cable  Communications Housing and  Supportive  Services Springbrook  Wetlands Fire Impact  Mitigation School District  Impact Mitigation Police Seizure Police CSAM  Seizure REVENUES: Taxes 123,977$               ‐$                            1,333,922$            ‐$                             ‐$                         ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              32,671                    ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Grants / intergovernmental ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                              231,834            228,427                 ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                              1,910                      Contributions 5,000                      ‐                               ‐                               ‐                               ‐                           ‐                              1,882                      ‐                               Investment Earnings 854                        828                        4,162                     260                        2,275                 51                           623                        196                         Sale of Fixed Assets ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               TOTAL REVENUES 129,831                33,499                   1,338,084             260                        234,109            228,478                2,505                     2,106                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              2,239                      ‐                           ‐                               ‐                               ‐                               Supplies ‐                              6,405                      ‐                               ‐                               ‐                           ‐                              41,304                    ‐                               Contracted Services 78,108                   3,540                     1,236,723             388                         ‐                          139,686                69,629                    ‐                               Capital Outlay ‐                              130                         ‐                               ‐                               ‐                           ‐                              76,531                    ‐                               TOTAL EXPENDITURES 78,108                   10,075                   1,236,723             2,627                      ‐                          139,686                187,464                 ‐                               ‐                           Transfers In ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               CHANGE IN FUND BALANCE 51,723                   23,424                   101,361                (2,367)                    234,109            88,792                   (184,959)               2,106                      BEGINNING FUND BALANCE, Jan 1 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 Prior Period Adjustment ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               BEGINNING FUND BALANCE, Jan 1 ‐ restated 728,421                731,245                3,171,729             234,325                1,960,733         12                           631,525                174,826                 ENDING FUND BALANCE, Apr 30 780,144$              754,669$              3,273,090$           231,958$              2,194,842$       88,804$                446,566$              176,932$               CS Impact Mitigation Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                        1,071,564$       1,071,564$        ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                           ‐                          4,299,189         1,455,000          Charges for services 102,218            3,012,009          ‐                           ‐                           ‐                           ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          (85)                      ‐                           Contributions ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 3,863                 7,139                 5,449                 10,201               18,287               11,866               9,440                  TOTAL REVENUES 106,081            3,019,148         1,077,013         1,081,765         18,287               4,310,970         1,464,440          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          116,375            26,971                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          45,398               13,988               22,933                Capital Outlay ‐                           ‐                           ‐                           ‐                          1,327,635         5,817,331         2,479,107          TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          1,489,408         5,858,290         2,502,040          Transfers In ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                           ‐                           Transfers Out ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                           ‐                           CHANGE IN FUND BALANCE 106,081            3,019,148         1,077,013         1,081,765         1,528,879         (1,547,320)        (1,037,600)         BEGINNING FUND BALANCE, Jan 1 3,433,393         5,159,035         4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          Prior Period Adjustment ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           BEGINNING FUND BALANCE, Jan 1 ‐ restated 3,433,393         5,159,035         4,508,117         8,773,145         16,824,783       10,868,853       8,238,935          ENDING FUND BALANCE, Apr 30 3,539,474$       8,178,183$       5,585,130$       9,854,910$       18,353,662$    9,321,533$       7,201,335$        Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 4 of 7   ENTERPRISE FUNDS  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business  enterprises. The table below displays the year‐to‐date revenues and expenses of the City’s enterprise funds.    Amounts restricted for debt service are in accordance with revenue bond requirements. Operating reserves are established  internally in accordance with the City’s Policy on Stabilization Funds, as outlined in the 2021‐2022 Adopted Budget.          Airport Solid Waste  Utility Golf Course Water Utility Wastewater  Utility Metro Surface Water  Utility REVENUES: Licenses and permits ‐$                        ‐$                        ‐$                        ‐$                        38,829$              ‐$                       10,467$              Grants / intergovernmental 2,862                8,222                 ‐                          ‐                           ‐                            ‐                         887,998              Charges for services 1,181,820        6,811,346        687,026           5,277,763         3,881,309          6,213,870        4,389,544           Interdepartmental services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Fines and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         83,749              82,346                ‐                            ‐                          ‐                            Interest and other misc 8,942                5,625                227,208           526,717             447,238             5,944                880,625              TOTAL REVENUES 1,212,761        6,825,193        997,983           5,886,826         4,367,432          6,219,814        6,168,634           EXPENSES: Personnel 363,743           185,367           514,460           1,416,842         819,725              ‐                         1,242,440           Supplies 35,767              4,632                91,971              302,441             15,403                ‐                         34,098                Contracted Services 214,501           6,359,812        41,973              953,600             727,960             4,574,036        577,189              Internal Services 100,489           77,139              90,138              662,896             497,934              ‐                         629,489              TOTAL OPERATING EXPENSES 714,500           6,626,950        738,542           3,335,779         2,061,022          4,574,036        2,483,216           CAPITAL, AND TRANSFERS 498,261           198,243           259,441           2,551,047         2,306,410          1,645,778        3,685,418           DEBT SERVICE: Principal ‐                          ‐                         3,664                 ‐                           ‐                            ‐                          ‐                            Interest ‐                          ‐                         188                    ‐                           ‐                            ‐                          ‐                            TOTAL DEBT SERVICE ‐                          ‐                         3,852                 ‐                           ‐                            ‐                          ‐                            CAPITAL OUTLAY 5,207                 ‐                         241,476           1,491,593         1,218,691           ‐                         1,256,734           Transfers In ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 493,054           198,243           14,113              1,059,454         1,087,719          1,645,778        2,428,684           BEGINNING FUND BALANCE, Jan 1 7,741,751        3,392,243        1,222,897        43,849,867       20,788,687       3,764,012        21,682,758        ENDING FUND BALANCE, Apr 30 8,234,805$      3,590,486$      1,237,010$      44,909,321$     21,876,406$     5,409,790$      24,111,442$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,051         661,227              ‐                    754,868              Operating Reserve 225,548           400,000           659,742           1,441,834         1,376,133          380,000           981,300              AVAILABLE FUND BALANCE 8,009,257$      3,190,486$      577,268$         42,073,436$     19,839,046$     5,029,790$      22,375,274$      Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 5 of 7   INTERNAL SERVICE FUNDS  Internal service funds are used to account for the goods and services furnished by one City department to other City  departments on a cost reimbursement basis. The table below displays the year‐to‐date revenues and expenses of the City’s  internal service funds.    Insurance reserves for the Healthcare Fund are established at a rate of 31% of current year budgeted expenses. 100% of the  Retiree Healthcare fund balance is reserved for OPEB.           Equipment Rental Insurance Information  Technology Facilities Communications Healthcare Retiree  Healthcare REVENUES: Technology Fee ‐$                            ‐$                           88,990$                 ‐$                            ‐$                            ‐$                            ‐$                            Grants / intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Charges for services: Equipment rental m&o 809,729                 ‐                             1,644,595             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             117,731                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             178,920                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             1,505,789             ‐                              ‐                              ‐                              Interest and other misc 11,530                  22,551                  3,595                    712                        123                        7,709                    20,347                   Internal service fund misc: Vehicle / equipment capital recovery 815,843                 ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             441,904                 ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             495,304                 ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             4,244,549            656,171                 Other misc 976                        104,843                319                        31,292                   ‐                             94,155                  29,691                   Disposal of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             21,253                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 1,660,508            1,085,855            1,737,499            1,537,793            296,774                4,346,413            706,209                 EXPENSES: Personnel 371,620                290,714                1,039,576            1,167,804            268,132                3,854,374            390,718                 Supplies 498,109                 ‐                             846,903                271,351                13,018                  660                         ‐                              Contracted Services 99,492                  857,353                941,619                385,011                108,103                170,913                17,505                   Internal Services 7,692                     ‐                              ‐                             32,696                  509                        20,933                   ‐                              TOTAL OPERATING EXPENSES 976,913                1,148,067            2,828,098            1,856,862            389,762                4,046,880            408,223                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 683,595                (62,212)                 (1,090,599)           (319,069)              (92,988)                 299,533                297,986                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY (1,111)                    ‐                             15,748                  4,103                     ‐                              ‐                              ‐                              Transfers In ‐                             152,772                2,001,410             ‐                              ‐                              ‐                              ‐                              Transfers Out ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             152,772                2,001,410             ‐                              ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 684,706                90,560                  895,063                (323,172)              (92,988)                 299,533                297,986                 BEGINNING FUND BALANCE, Jan 1 10,125,169          20,494,538          3,653,455            785,189                141,517                6,655,137            18,188,260           ENDING FUND BALANCE, Apr 30 10,809,875$        20,585,098$        4,548,518$          462,017$             48,529$                6,954,670$          18,486,246$         Insurance Reserves ‐                             19,704,919           ‐                              ‐                              ‐                             4,120,067            18,486,246           Opearting Reserves 9,988,536             ‐                             2,068,477             ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 821,339$             880,179$             2,480,041$          462,017$             48,529$                2,834,603$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 6 of 7   FIDUCIARY FUNDS  Fiduciary funds are used to account for assets held by the City in a trustee capacity. These assets are not available for City use  as they are not City assets. The table below displays year‐to‐date revenues and expenditures of the City’s fiduciary funds.       Firemens' Pension Custodial Fund REVENUES: Intergovernmental ‐$                             ‐$                             Investment Earnings 8,619                      ‐                               Collected for Others ‐                              713,739                 TOTAL REVENUES 8,619                     713,739                 EXPENDITURES: Distributions to Others 116,484                178,033                 TOTAL EXPENDITURES 78,597                   178,033                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE (69,978)                 535,706                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Apr 30 8,301,205$           535,706$               Monthly Financial Report                                                               City of Renton, Washington April 2022  Page 7 of 7             CONTACT INFORMATION  This report is prepared by the Finance Department. For additional financial information, please also review our website:  http://www.rentonwa.gov/.  For any questions about the report, please feel free to contact Nate Malone  nmalone@rentonwa.gov or Kristin Trivelas ktrivelas@rentonwa.gov .  City of Renton All Funds ‐ Revenue, Expenditures and Fund Balances Budgetary Basis through April 30, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  04/30/22 Total Funds  Available Budgeted  Expenditure Expenditure  04/30/22 Ending Balance GENERAL FUND 69,102,662      129,016,691    43,356,769      112,459,431    134,221,843    37,664,352      74,795,079       SPECIAL REVENUE FUNDS: 7,632,816        4,841,674        1,968,872        9,601,688        4,998,401        1,654,683        7,947,005         110 Hotel Motel 728,421           200,000           129,831           858,252           508,207           78,108             780,144            127 Cable Communication 731,245           57,674             33,499             764,744           427,209           10,075             754,669            130 Housing and Supportive Services 3,171,729        3,490,000        1,338,084        4,509,813        1,710,000        1,236,723        3,273,090         135 Springbrook Wetlands Bank 234,325            ‐                       260                  234,585           51,000             2,627               231,958            140 Police Seizure 631,525            ‐                       2,505               634,030           631,525           187,464           446,566            141 Police CSAM Seizure 174,826            ‐                       2,106               176,932           174,826            ‐                       176,932            31X School District Impact Mitigation 12                    995,000           228,478           228,490           995,000           139,686           88,804              304 Fire Mitigation 1,960,733        99,000             234,109           2,194,842        500,634            ‐                       2,194,842         DEBT SERVICE FUND 5,218,125        4,533,969        617,181           5,835,306        4,341,920        274,548           5,560,758         CAPITAL PROJECT FUNDS (CIP): 57,806,261      65,365,439      14,077,704      71,883,965      109,461,364    9,849,738        62,034,227       303 Community Services Mitigation 3,433,393        86,500             106,081           3,539,474        3,380,595         ‐                       3,539,474         305 Transportation Mitigation 5,159,035        200,000           3,019,148        8,178,183        200,000            ‐                       8,178,183         308 REET1 4,508,117        2,300,000        1,077,013        5,585,130        5,579,996         ‐                       5,585,130         309 REET2 8,773,145        2,300,000        1,081,765        9,854,910        9,921,118         ‐                       9,854,910         316 Municipal Facilities CIP 16,824,783      14,905,867      3,018,287        19,843,070      31,728,133      1,489,408        18,353,662       317 Transportation CIP 10,868,853      33,114,072      4,310,970        15,179,823      41,373,264      5,858,290        9,321,533         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      1,464,440        9,703,375        17,278,258      2,502,040        7,201,335         ENTERPRISE FUNDS: 102,442,215    107,654,744    31,678,643      134,120,858    162,957,683    24,751,598      109,369,260     4X2 Airport Operating & CIP 7,741,751        3,281,007        1,212,761        8,954,512        9,181,221        719,707           8,234,805         403 Solid Waste Utility 3,392,243        24,133,272      6,825,193        10,217,436      24,832,757      6,626,950        3,590,486         4X4 Golf Operating & CIP 1,222,897        3,228,832        997,983           2,220,880        3,154,944        983,870           1,237,010         4X5 Water Operating & CIP 43,849,867      19,107,026      5,886,826        49,736,693      49,435,971      4,827,372        44,909,321       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      4,367,432        25,156,119      25,851,368      3,279,713        21,876,406       416 King County Metro 3,764,012        18,495,877      6,219,814        9,983,826        18,495,877      4,574,036        5,409,790         4X7 Surface Water Operating & CIP 21,682,758      27,182,017      6,168,634        27,851,392      32,005,545      3,739,950        24,111,442       INTERNAL SERVICE FUNDS: 60,043,265      43,410,655      13,525,233      73,568,498      44,947,697      11,673,545      61,894,953       501 Equipment Repair/Replacement 10,125,169      6,481,285        1,660,508        11,785,677      6,617,918        975,802           10,809,875       502 Insurance 20,494,538      3,714,015        1,238,627        21,733,165      4,387,888        1,148,067        20,585,098       503 Information Services 3,653,455        9,526,701        3,738,909        7,392,364        10,907,503      2,843,846        4,548,518         504 Facilities 785,189           6,194,170        1,537,793        2,322,982        6,493,056        1,860,965        462,017            505 Communications 141,517           1,217,600        296,774           438,291           1,355,485        389,762           48,529              512 Insurance, Healthcare 6,655,137        13,566,817      4,346,413        11,001,550      13,733,558      4,046,880        6,954,670         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        706,209           18,894,469      1,452,289        408,223           18,486,246       FIDUCIARY FUNDS: 8,371,183        290,000           722,358           9,093,541        200,475           256,630           8,836,911         611 Firemens' Pension 8,371,183        290,000           8,619               8,379,802        200,475           78,597             8,301,205         630 Custodial Fund ‐                        ‐                       713,739           713,739            ‐                       178,033           535,706            TOTAL FUNDS 310,616,527    355,113,172    105,946,760    416,563,287    461,129,383    86,125,094      330,438,193