Agenda Item: | 5.B.
| Agenda Title: | Consider approval of the monthly financial and investment report. (October)
| 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 October 31st, 2017, completing 8% of FY 2017-18.
b) Issues and Analysis
General Fund Revenues year-to-date are slightly lower than prior year. However, an increase trend is expected through the fiscal year.
Account
|
Budget
|
Current Period
|
Y-T-D Actual
|
% of Budget
|
Balance
|
Sales taxes
|
6,750,000
|
580,322
|
580,322
|
9%
|
6,169,678 |
Franchise fees
|
561,100
|
0 |
0 |
0%
|
561,100 |
Building fees
|
488,000
|
50,590 |
50,590 |
10%
|
437,410
|
Mixed drink taxes
|
120,000
|
0
|
0
|
0%
|
120,000
|
Library revenue
|
13,000
|
235 |
235 |
2%
|
12,765
|
Interest income
|
175,000
|
21,960
|
21,960
|
13%
|
153,040 |
Miscellaneous
|
5,000
|
31
|
31
|
1%
|
4,969
|
Other fees
|
15,000
|
1,710
|
1,710
|
11%
|
13,290
|
Total Revenue
|
8,127,100
|
654,848
|
654,848
|
8%
|
7,472,252
|
Expenditures by department are consistent with prior year. Departments will be monitored throughout the fiscal year.
Account
|
Budget
|
Current Period
|
Y-T-D Actual
|
% of Budget
|
Balance
|
Administration
|
619,838
|
55,633
|
55,633 |
9%
|
564,205 |
City Council
|
55,350
|
427 |
427 |
1%
|
54,923 |
Legal
|
175,000
|
10,536 |
10,536 |
6%
|
164,464 |
Non-Departmental
|
252,500
|
95,760 |
95,760 |
38%
|
156,740 |
Information Systems
|
349,597
|
13,837 |
13,837 |
4%
|
335,760 |
Library
|
688,142
|
42,894 |
42,894 |
6%
|
645,248 |
Facilities
|
510,982
|
26,012 |
26,012 |
5% |
484,970 |
Court
|
308,788
|
17,302 |
17,302 |
6%
|
291,486 |
Police
|
2,173,809
|
183,669 |
183,669 |
8%
|
1,990,140 |
P&D
|
744,625
|
39,902 |
39,902 |
5%
|
704,723 |
380 Payments
|
1,578,000
|
0 |
0 |
0%
|
1,578,000 |
Total Expenditures
|
7,456,631 |
485,972 |
485,972 |
7%
|
6,970,659 |
3. FINANCIAL/BUDGET
Amount Requested | | | Fund/Account No. | | Cert. Obligation | | | GO Funds | | Other source | | | Grant title
| | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
Year-end reporting and audit preparation are in progress.
5. RECOMMENDATION
Approve as submitted.
|