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HomeMy WebLinkAboutMONTH 2022 08Page 1 of 7   OVERVIEW  This monthly financial report reflects the City’s revenue and expenditures/expenses for the fiscal year through August 31,  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 66,477,172$       Licenses and permits 5,540,838            Grants / intergovernmental 3,005,256            Charges for services 6,998,269            Fines and penalties 2,946,193            Miscellaneous 1,233,626            Sale of general fixed assets 2,000                    Investment Earnings 363,401               Insurance recoveries 21,272                  TOTAL REVENUES 86,588,027          EXPENDITURES: Personnel 43,349,159          Supplies 1,161,892            Contracted Services 13,230,713          Principal 225,309               Capital Outlay 103,020               Internal Services 10,240,192          TOTAL EXPENDITURES 68,310,285          Transfers In 14,187                  Transfers Out (5,808,674)           NET TRANSFERS (5,794,487)           CHANGE IN FUND BALANCE 12,483,255          BEGINNING FUND BALANCE, Jan 1 69,102,662          Prior Period Adjustment 19,257                  BEGINNING FUND BALANCE, Jan 1 ‐ restated 69,121,919          ENDING FUND BALANCE, Aug 31 81,605,174$       ECONOMIC DEVELOPMENT RESERVE 2,500,000            OPERATING RESERVES 11,226,491          AVAILABLE FUND BALANCE, Aug 31 67,878,683$       Monthly Financial Report August 2022  Monthly Financial Report                                                               City of Renton, Washington August 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.         General  Governmental  Misc Debt REVENUES: Grants / intergovernmental 44,705$                 Investment Earnings 20,387                    TOTAL REVENUES 65,092                    EXPENDITURES: Principal 609,547                 Interest 711,211                 TOTAL EXPENDITURES 1,320,758              Transfers In 611,550                 NET TRANSFERS 611,550                 CHANGE IN FUND BALANCE (644,116)                BEGINNING FUND BALANCE, Jan 1 5,218,125              ENDING FUND BALANCE, Aug 31 4,574,009$            Debt Service Reserve 2,717,575              AVAILABLE FUND BALANCE 1,856,434$            Monthly Financial Report                                                               City of Renton, Washington August 2022  Page 3 of 7   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.     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 296,306$               ‐$                            2,831,245$            ‐$                             ‐$                         ‐$                             ‐$                             ‐$                             Licenses and permits ‐                              48,049                    ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Grants / intergovernmental ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Charges for services ‐                               ‐                               ‐                               ‐                              1,167,599         3,955,379              ‐                               ‐                               Fines and penalties ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                              7,872                      Contributions 15,000                    ‐                               ‐                               ‐                               ‐                           ‐                              31,007                    ‐                               Investment Earnings 3,186                     2,606                     14,836                   1,467                     10,242               3,632                     1,818                     670                         Sale of Fixed Assets ‐                               ‐                               ‐                              230,300                 ‐                           ‐                               ‐                               ‐                               TOTAL REVENUES 314,492                50,655                   2,846,081             231,767                1,177,841         3,959,011             32,825                   8,542                      EXPENDITURES: Personnel ‐                               ‐                               ‐                              4,620                      ‐                           ‐                               ‐                               ‐                               Supplies ‐                              180,136                 ‐                               ‐                               ‐                           ‐                               ‐                               ‐                               Contracted Services 161,282                46,774                   1,500,000             4,400                      ‐                          3,931,228              ‐                               ‐                               Capital Outlay ‐                               ‐                               ‐                               ‐                               ‐                           ‐                              139,791                18,311                    TOTAL EXPENDITURES 161,282                226,910                1,500,000             9,020                      ‐                          3,931,228             139,791                18,311                    ‐                           Transfers In ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               Transfers Out ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               NET TRANSFERS ‐                               ‐                               ‐                               ‐                               ‐                           ‐                               ‐                               CHANGE IN FUND BALANCE 153,210                (176,255)               1,346,081             222,747                1,177,841         27,783                   (106,966)               (9,769)                     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, Aug 31 881,631$              554,990$              4,517,810$           457,072$              3,138,574$       27,795$                524,559$              165,057$               CS Impact Mitigation Transportation  Impact  Mitigation REET 1 REET 2 Municipal  Facilities CIP Capital  Investment Family First  Center REVENUES: Taxes ‐$                         ‐$                        2,450,120$       2,450,121$        ‐$                         ‐$                         ‐$                         Grants / intergovernmental ‐                           ‐                           ‐                           ‐                          181,009            8,047,309         1,510,001          Charges for services 1,415,820         8,108,891          ‐                           ‐                          4,700                  ‐                           ‐                           Fines and penalties ‐                           ‐                           ‐                           ‐                           ‐                          (107)                    ‐                           Contributions ‐                           ‐                           ‐                           ‐                          842,154             ‐                          5,017,221          Sale of general fixed assets ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Investment Earnings 16,400               38,039               23,546               40,514               70,140               36,109               36,137                TOTAL REVENUES 1,432,220         8,146,930         2,473,666         2,490,635         1,098,003         8,083,311         6,563,359          EXPENDITURES: Personnel ‐                           ‐                           ‐                           ‐                          245,303            59,499                ‐                           Supplies ‐                           ‐                           ‐                           ‐                           ‐                          75,928                ‐                           Contracted Services ‐                           ‐                           ‐                           ‐                          132,032            87,602               38,746                Capital Outlay ‐                           ‐                           ‐                           ‐                          2,193,375         9,662,099         6,275,408          TOTAL EXPENDITURES ‐                           ‐                           ‐                           ‐                          2,570,710         9,885,128         6,314,154          Transfers In ‐                           ‐                           ‐                           ‐                          3,000,000          ‐                          56,518                Transfers Out ‐                           ‐                           ‐                           ‐                          (56,518)              ‐                           ‐                           NET TRANSFERS ‐                           ‐                           ‐                           ‐                          2,943,482          ‐                          56,518                CHANGE IN FUND BALANCE 1,432,220         8,146,930         2,473,666         2,490,635         1,470,775         (1,801,817)        305,723             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, Aug 31 4,865,613$       13,305,965$    6,981,783$       11,263,780$    18,295,558$    9,067,036$       8,544,658$        Monthly Financial Report                                                               City of Renton, Washington August 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 ‐$                        ‐$                        ‐$                        ‐$                        58,445$              ‐$                       15,459$              Grants / intergovernmental 57,529              34,783               ‐                          ‐                           ‐                            ‐                         1,114,140           Charges for services 2,277,911        13,636,401      2,074,130        11,387,503       7,763,323          12,915,805      8,557,741           Interdepartmental services ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          ‐                            Fines and penalties ‐                          ‐                          ‐                          ‐                          56                        ‐                          ‐                            Rents, leases, and misc fees 19,137               ‐                         355,599           159,714              ‐                            ‐                          ‐                            Interest and other misc 32,857              17,630              232,456           1,143,957         655,626             21,498              1,466,231           TOTAL REVENUES 2,387,434        13,688,814      2,662,185        12,691,174       8,477,450          12,937,303      11,153,571        EXPENSES: Personnel 727,843           313,297           1,098,664        2,926,305         1,574,442           ‐                         2,550,599           Supplies 57,666              6,938                242,641           694,496             30,968                ‐                         54,009                Contracted Services 413,199           13,348,708      83,802              2,149,123         1,560,561          10,727,823      1,263,932           Internal Services 224,498           182,197           230,330           1,385,442         976,070              ‐                         1,434,739           TOTAL OPERATING EXPENSES 1,423,206        13,851,140      1,655,437        7,155,366         4,142,041          10,727,823      5,303,279           CAPITAL, AND TRANSFERS 964,228           (162,326)          1,006,748        5,535,808         4,335,409          2,209,480        5,850,292           DEBT SERVICE: Principal ‐                          ‐                         18,349              315,517              ‐                            ‐                          ‐                            Interest ‐                          ‐                         908                   90,937               39,597                ‐                         48,088                TOTAL DEBT SERVICE ‐                          ‐                         19,257              406,454             39,597                ‐                         48,088                CAPITAL OUTLAY 120,997            ‐                         306,333           2,380,739         2,605,207           ‐                         2,755,052           Transfers In ‐                          ‐                         118,050            ‐                           ‐                            ‐                          ‐                            Transfers Out ‐                          ‐                         (118,050)          (6,270)                 ‐                            ‐                          ‐                            NET TRANSFERS ‐                          ‐                          ‐                         (6,270)                 ‐                            ‐                          ‐                            CHANGE IN FUND BALANCE 843,231           (162,326)          681,158           2,742,345         1,690,605          2,209,480        3,047,152           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, Aug 31 8,584,982$      3,229,917$      1,904,055$      46,592,212$     22,479,292$     5,973,492$      24,729,910$      Restricted for Debt Service ‐                     ‐                     ‐                    1,394,050         661,227              ‐                    754,868              Operating Reserve 241,858           400,000           746,233           1,705,875         960,757             380,000           1,190,692           AVAILABLE FUND BALANCE 8,343,124$      2,829,917$      1,157,822$      43,492,287$     20,857,308$     5,593,492$      22,784,350$      Monthly Financial Report                                                               City of Renton, Washington August 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 ‐$                            ‐$                           186,465$              ‐$                            ‐$                            ‐$                            ‐$                            Charges for services: Equipment rental m&o 1,600,228             ‐                             4,564,374             ‐                              ‐                              ‐                              ‐                              Print and mail ‐                              ‐                              ‐                              ‐                             238,304                 ‐                              ‐                              Communications ‐                              ‐                              ‐                              ‐                             448,282                 ‐                              ‐                              Facilities ‐                              ‐                              ‐                             3,246,827             ‐                              ‐                              ‐                              Interest and other misc 44,018                  81,638                  19,457                  2,667                    477                        28,668                  73,916                   Internal service fund misc: Vehicle / equipment capital recovery 1,660,996             ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance premiums ‐                             1,231,513             ‐                              ‐                              ‐                              ‐                              ‐                              Worker's comp/unemployment ‐                             1,034,187             ‐                              ‐                              ‐                              ‐                              ‐                              Benefit premiums ‐                              ‐                              ‐                              ‐                              ‐                             8,408,903            1,312,342             Other misc 1,142                    104,843                319                        73,181                   ‐                             358,690                111,929                 Disposal of capital assets 22,430                   ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              Insurance recoveries ‐                             36,947                   ‐                              ‐                              ‐                              ‐                              ‐                              TOTAL REVENUES 3,328,814            2,489,128            4,770,615            3,322,675            690,063                8,796,261            1,498,187             EXPENSES: Personnel 739,352                660,077                2,094,166            2,357,962            546,864                7,172,359            802,912                 Supplies 1,150,091            46                          945,457                641,746                27,917                  1,320                     ‐                              Contracted Services 204,189                2,296,023            1,701,553            903,782                195,451                294,577                30,715                   Internal Services 16,538                   ‐                              ‐                             65,980                  1,017                    46,835                   ‐                              TOTAL OPERATING EXPENSES 2,110,170            2,956,146            4,741,176            3,969,470            771,249                7,515,091            833,627                 AMOUNT AVAILABLE FOR DEBT SERVICE,  CAPITAL, AND TRANSFERS 1,218,644            (467,018)              29,439                  (646,795)              (81,186)                 1,281,170            664,560                 TOTAL DEBT SERVICE ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              ‐                              CAPITAL OUTLAY 288,729                 ‐                             109,894                15,149                   ‐                              ‐                              ‐                              Transfers In ‐                             152,772                2,076,811            11,045                   ‐                              ‐                              ‐                              Transfers Out ‐                             (51,420)                  ‐                              ‐                              ‐                              ‐                              ‐                              NET TRANSFERS ‐                             101,352                2,076,811            11,045                   ‐                              ‐                              ‐                              CHANGE IN FUND BALANCE 929,915                (365,666)              1,996,356            (650,899)              (81,186)                 1,281,170            664,560                 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, Aug 31 11,055,084$        20,128,872$        5,649,811$          134,290$             60,331$                7,936,307$          18,852,820$         Insurance Reserves ‐                             20,128,872           ‐                              ‐                              ‐                             4,123,049            18,852,820           Opearting Reserves 9,528,855             ‐                             2,068,477             ‐                              ‐                              ‐                              ‐                              AVAILABLE FUND BALANCE 1,526,229$           ‐$                           3,581,334$          134,290$             60,331$                3,813,258$           ‐$                            Monthly Financial Report                                                               City of Renton, Washington August 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 182,841$               ‐$                             Investment Earnings 30,993                    ‐                               Collected for Others ‐                              1,813,288              TOTAL REVENUES 213,834                1,813,288              EXPENDITURES: Distributions to Others 186,039                959,477                 TOTAL EXPENDITURES 151,652                959,477                 NET TRANSFERS ‐                               ‐                               CHANGE IN FUND BALANCE 62,182                   853,811                 BEGINNING FUND BALANCE, Jan 1 8,371,183              ‐                               ENDING FUND BALANCE, Aug 31 8,433,365$           853,811$               Monthly Financial Report                                                               City of Renton, Washington August 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 August 31, 2022 Funds Balance  01/01/2022 Budgeted  Revenue Revenue  08/31/22 Total Funds  Available Budgeted  Expenditure Expenditure  08/31/22 Ending Balance GENERAL FUND 69,102,662      129,187,507    86,621,471      155,724,133    140,345,324    74,118,959      81,605,174       SPECIAL REVENUE FUNDS: 7,632,816        4,861,674        8,621,214        16,254,030      5,018,401        5,986,542        10,267,488       110 Hotel Motel 728,421           220,000           314,492           1,042,913        528,207           161,282           881,631            127 Cable Communication 731,245           57,674             50,655             781,900           427,209           226,910           554,990            130 Housing and Supportive Services 3,171,729        3,490,000        2,846,081        6,017,810        1,710,000        1,500,000        4,517,810         135 Springbrook Wetlands Bank 234,325            ‐                       231,767           466,092           51,000             9,020               457,072            140 Police Seizure 631,525            ‐                       32,825             664,350           631,525           139,791           524,559            141 Police CSAM Seizure 174,826            ‐                       8,542               183,368           174,826           18,311             165,057            31X School District Impact Mitigation 12                    995,000           3,959,011        3,959,023        995,000           3,931,228        27,795              304 Fire Mitigation 1,960,733        99,000             1,177,841        3,138,574        500,634            ‐                       3,138,574         DEBT SERVICE FUND 5,218,125        4,533,969        676,642           5,894,767        4,341,920        1,320,758        4,574,009         CAPITAL PROJECT FUNDS (CIP): 57,806,261      76,470,659      33,344,642      91,150,903      120,656,684    18,826,510      72,324,393       303 Community Services Mitigation 3,433,393        86,500             1,432,220        4,865,613        3,380,595         ‐                       4,865,613         305 Transportation Mitigation 5,159,035        200,000           8,146,930        13,305,965      3,200,000         ‐                       13,305,965       308 REET1 4,508,117        2,300,000        2,473,666        6,981,783        5,579,996         ‐                       6,981,783         309 REET2 8,773,145        2,300,000        2,490,635        11,263,780      6,921,118         ‐                       11,263,780       316 Municipal Facilities CIP 16,824,783      16,718,087      4,098,003        20,922,786      33,540,353      2,627,228        18,295,558       317 Transportation CIP 10,868,853      42,407,072      8,083,311        18,952,164      50,756,364      9,885,128        9,067,036         336 New Library Development ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        346 New Family First Center Dvlpmnt 8,238,935        12,459,000      6,619,877        14,858,812      17,278,258      6,314,154        8,544,658         ENTERPRISE FUNDS: 102,442,215    112,854,744    64,115,981      166,558,196    169,256,663    53,064,336      113,493,860     4X2 Airport Operating & CIP 7,741,751        3,281,007        2,387,434        10,129,185      9,243,159        1,544,203        8,584,982         403 Solid Waste Utility 3,392,243        24,133,272      13,688,814      17,081,057      24,924,161      13,851,140      3,229,917         4X4 Golf Operating & CIP 1,222,897        3,428,832        2,780,235        4,003,132        3,655,054        2,099,077        1,904,055         4X5 Water Operating & CIP 43,849,867      19,107,026      12,691,174      56,541,041      49,577,439      9,948,829        46,592,212       4X6 Waste Water Operating & CIP 20,788,687      12,226,713      8,477,450        29,266,137      25,857,830      6,786,845        22,479,292       416 King County Metro 3,764,012        18,495,877      12,937,303      16,701,315      18,495,877      10,727,823      5,973,492         4X7 Surface Water Operating & CIP 21,682,758      32,182,017      11,153,571      32,836,329      37,503,143      8,106,419        24,729,910       INTERNAL SERVICE FUNDS: 60,043,265      47,195,487      27,136,371      87,179,636      47,088,138      23,362,121      63,817,515       501 Equipment Repair/Replacement 10,125,169      6,389,905        3,328,814        13,453,983      6,986,219        2,398,899        11,055,084       502 Insurance 20,494,538      4,409,425        2,641,900        23,136,438      4,387,888        3,007,566        20,128,872       503 Information Services 3,653,455        12,077,068      6,847,426        10,500,881      12,666,705      4,851,070        5,649,811         504 Facilities 785,189           6,664,670        3,333,720        4,118,909        6,493,056        3,984,619        134,290            505 Communications 141,517           1,377,535        690,063           831,580           1,358,485        771,249           60,331              512 Insurance, Healthcare 6,655,137        13,566,817      8,796,261        15,451,398      13,743,496      7,515,091        7,936,307         522 Insurance, Leoff1 Retirees HC 18,188,260      2,710,067        1,498,187        19,686,447      1,452,289        833,627           18,852,820       FIDUCIARY FUNDS: 8,371,183        290,000           2,027,122        10,398,305      200,475           1,111,129        9,287,176         611 Firemens' Pension 8,371,183        290,000           213,834           8,585,017        200,475           151,652           8,433,365         630 Custodial Fund ‐                        ‐                       1,813,288        1,813,288         ‐                       959,477           853,811            TOTAL FUNDS 310,616,527    375,394,040    222,543,443    533,159,970    486,907,605    177,790,355    355,369,615