| Agenda Item: | 5.B.
| | Agenda Title: | Consider approval of the monthly financial and investment report. (February)
| 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 February 28th, 2017, 42% 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
|
769,670
|
3,425,577
|
52%
|
3,136,923 |
|
Franchise fees
|
656,100
|
51,446 |
179,856 |
27%
|
476,244 |
|
Building fees
|
402,000
|
74,008 |
258,495 |
64%
|
143,505
|
|
Mixed drink taxes
|
120,000
|
0
|
53,250
|
44%
|
66,750
|
|
Library revenue
|
13,000
|
1,467 |
3,025 |
23%
|
9,975
|
|
Interest income
|
75,000
|
11,153
|
52,842
|
70%
|
22,158 |
|
Miscellaneous
|
8,500
|
165
|
2,432
|
29%
|
6,068
|
|
Other fees
|
26,500
|
0
|
5,108
|
19%
|
21,392
|
|
Total Revenue
|
7,863,600
|
907,911
|
3,980,586
|
51%
|
3,883,014
|
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
|
43,538
|
215,907 |
37%
|
362,497 |
|
City Council
|
55,850
|
2,010 |
27,878 |
50%
|
27,973 |
|
Legal
|
240,000
|
8,813 |
56,675 |
24%
|
183,325 |
|
Non-Departmental
|
242,500
|
4,402 |
87,656 |
36%
|
154,844 |
|
Information Systems
|
312,398
|
30,815 |
123,031 |
39%
|
189,367 |
|
Library
|
644,148
|
51,375 |
256,919 |
40%
|
387,229 |
|
Facilities
|
367,749
|
19,974 |
134,756 |
37% |
232,993 |
|
Court
|
282,356
|
23,489 |
114,822 |
41%
|
167,534 |
|
Police
|
2,044,712
|
113,929 |
883,676 |
43%
|
1,161,036 |
|
P&D
|
894,075
|
41,602 |
224,827 |
25%
|
669,248 |
|
380 Payments
|
1,578,000
|
0 |
368,956 |
23%
|
1,209,044 |
|
Total Expenditures
|
7,240,192
|
339,947 |
2,495,102 |
34%
|
4,745,090 |
3. FINANCIAL/BUDGET
| Amount Requested | | | Fund/Account No. | | | Cert. Obligation | | | GO Funds | | | Other source | | | Grant title
| | | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
Budget discussions will begin in June.
5. RECOMMENDATION
Approve as submitted.
|