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File #: 16-390    Version: 1 Name:
Type: Staff Report Status: Passed
File created: 5/23/2016 In control: City Council
On agenda: 6/1/2016 Final action: 6/1/2016
Title: APRIL 2016 FINANCIAL AND INVESTMENT REPORT
Attachments: 1. April 2016 Financial Statement Analysis, 2. April 2016 Financial and Investment Report
CITY COUNCIL STAFF REPORT
MEETING DATE: JUNE 1, 2016

PREPARED BY: Dat Nguyen, Assistant Finance Director/Administrative Services
APPROVED BY: City Manager

TITLE
APRIL 2016 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:
As part of the City Council's expectation to maintain a high level of transparency and to be responsible stewards of public funds, attached are the Monthly Financial and Investment Reports for the ten months ended April 30, 2016 or 83% of the year completed. A Year-to-Date Revenue and Expense Summary is included on the first page. Overall, the City received 80% of the budgeted revenues for all funds. The amount received year to date for all funds is approximately $11.9 million or 16% higher than prior year at this time. Removing the $8.1 million increase in Capital Project and Special Revenue Funds, the increase was primarily led by the Water and Sewer development impact fee of $2.4 million and an overall increase in General Fund revenues of $0.2 million compared to prior year at this time.

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. At the September 16, 2015 meeting, City Council recommended monthly financial and investment reports be agendized under the Consent Agenda, a...

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