CITY COUNCIL STAFF REPORT
MEETING DATE: June 17, 2015
PREPARED BY: Cindy Murphy, Assistant City Manager for Administrative Services
APPROVED BY: City Manager
Title
APRIL 2015 FINANCIAL AND INVESTMENT REPORT
END
RECOMMENDATION(S)
RECOMMENDATION
Accept and file report.
BODY
COUNCIL PRIORITIES, GOALS & STRATEGIES:
Ongoing Priorities
Maintaining fiscal responsibility
Preserving and cultivating public trust
REPORT NARRATIVE:
Attached are the Monthly Financial and Investment Reports for the ten months ending April 30, 2015 (83% of fiscal year). A Year-to Date Revenue and Expense Summary is included on the first page. Overall, General Fund revenues are at 77% of budget, and slightly lower than last year at this time. General Fund expenditures, including encumbrances, are on track as anticipated at 82% of the budget.
COMMUNITY ENGAGEMENT: Inform
Finance staff prepares these monthly reports in an effort to keep City Officials, Council, Community, and various lenders and stakeholders informed on the financial health of the organization, which assists each one of the interested parties in making sound financial and investment decisions.
ALTERNATIVE ACTIONS:
No alternative action is recommended, as this is a monthly financial report on City transactions which have already occurred
PRIOR CITY COUNCIL AND COMMISSION ACTIONS:
The City Council receives and files the financial and investment report for each month.
FISCAL AND RESOURCE IMPACT:
The preparation of the report is a part of the FY14-15 Finance workplans.
CEQA (California Environmental Quality Act):
Not a Project
LINKS/ATTACHMENTS:
April 2015 Financial Report
April 2015 Financial Statements