| Agenda Item: | 5.B.
| | Agenda Title: | Consider approval of the monthly financial and investment report. (November)
| Council Action:
| Consent Agenda
| | Department: | Administration
| | Staff Contact: | Administration
|
1. INTRODUCTION/PURPOSE
The purpose of this agenda item is to provide the monthly financial and investment report to Council as required by policy.
2. DESCRIPTION/JUSTIFICATION
a) Background
This installment of the finance and investment report is for the period ending November 30th, 2016, 17% of FY 2016-17.
b) Issues and Analysis
Revenues continue to be consistent with prior year. An increased trend is expected through the fiscal year.
|
Account
|
Budget
|
Current Period
|
Y-T-D Actual
|
% of Budget
|
Balance
|
|
Sales taxes
|
6,562,500
|
620,713
|
1,208,105
|
18%
|
5,354,395 |
|
Franchise fees
|
656,100
|
42,306
|
42,462
|
6%
|
613,638
|
|
Building fees
|
402,000
|
40,933
|
61,963
|
15%
|
340,038
|
|
Mixed drink taxes
|
120,000
|
0
|
27,290
|
23%
|
92,710
|
|
Library revenue
|
13,000
|
225
|
982
|
8%
|
12,018
|
|
Interest income
|
75,000
|
9,362
|
18,908
|
25%
|
56,092
|
|
Miscellaneous
|
8,500
|
44
|
1,749
|
21%
|
6,751
|
|
Other fees
|
26,500
|
278
|
2,188
|
8%
|
24,313
|
|
Total Revenue
|
7,863,600
|
713,860
|
1,363,646
|
17%
|
6,499,954
|
Expenditures by department are also consistent with prior year. Departments will continue to be monitored.
|
Account
|
Budget
|
Current Period
|
Y-T-D Actual
|
% of Budget
|
Balance
|
|
Administration
|
578,404
|
41,564
|
84,314 |
15%
|
493,590 |
|
City Council
|
55,850
|
924 |
3,153 |
6%
|
52,698 |
|
Legal
|
240,000
|
30,123 |
30,123 |
13%
|
209,877 |
|
Non-Departmental
|
242,500
|
856 |
78,810 |
33%
|
163,690 |
|
Information Systems
|
312,398
|
20,135 |
49,497 |
16%
|
262,901 |
|
Library
|
644,148
|
49,930 |
107,585 |
17%
|
536,563 |
|
Facilities
|
367,749
|
24,802 |
51,856 |
14% |
315,893 |
|
Court
|
282,356
|
26,133 |
47,425 |
17%
|
234,931 |
|
Police
|
2,044,712
|
189,576 |
412,332 |
20%
|
1,632,380 |
|
P&D
|
894,075
|
36,472 |
76,493 |
9%
|
817,582 |
|
380 Payments
|
1,578,000
|
0 |
0
|
0%
|
1,578,000
|
|
Total Expenditures
|
7,240,192
|
420,516 |
948,090 |
13%
|
6,292,102 |
3. FINANCIAL/BUDGET
| Amount Requested | | | Fund/Account No. | | | Cert. Obligation | | | GO Funds | | | Other source | | | Grant title
| | | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
Audit preparations for FY 2015-16 are in progress.
5. RECOMMENDATION
Approve as submitted.
|