File #: 15-536    Version: 1 Name:
Type: Staff Report Status: Passed
File created: 8/20/2015 In control: City Council
On agenda: 9/2/2015 Final action: 9/2/2015
Title: JUNE 2015 FINANCIAL AND INVESTMENT REPORT
Attachments: 1. June 2015 Financial Statement Analysis, 2. June 2015 Financial and Investment Reports

CITY COUNCIL STAFF REPORT                       

MEETING DATE: September 2, 2015

 

PREPARED BY:                     Dat Nguyen, Assistant Finance Director                                           

APPROVED BY:                     City Manager                                          

 

Title

JUNE 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 preliminary fiscal year ending June 30, 2015 Monthly Financial and Investment Reports. The preliminary year end Revenue and Expense Summary is included on the first page. Overall, General Fund revenues exceeded budget by 8% and are 9% higher than last year. General Fund expenditures, including encumbrances, came in at 96% 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 and FY15-16 Finance workplans.

 

CEQA (California Environmental Quality Act): 

Not a Project

 

LINKS/ATTACHMENTS:

June 2015 Financial Statement Analysis

June 2015 Financial and Investment Reports