| 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, 2017, completing 17% of FY 2017-18.
b) Issues and Analysis
General Fund Revenues year-to-date are consistent with prior year. 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
|
641,263
|
1,221,584
|
18%
|
5,528,416 |
|
Franchise fees
|
561,100
|
4,957 |
22,529 |
4%
|
538,571 |
|
Building fees
|
488,000
|
51,582 |
171,634 |
35%
|
316,366
|
|
Mixed drink taxes
|
120,000
|
0
|
0
|
0%
|
120,000
|
|
Library revenue
|
13,000
|
286 |
521 |
4%
|
12,479
|
|
Interest income
|
175,000
|
21,625
|
43,584
|
25%
|
131,416 |
|
Miscellaneous
|
5,000
|
2,053
|
32
|
1%
|
4,968
|
|
Other fees
|
15,000
|
585
|
2,295
|
15%
|
12,705
|
|
Total Revenue
|
8,127,100
|
722,351
|
1,462,179
|
18%
|
6,664,921
|
Expenditures by department are also 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
|
38,267
|
99,157 |
16%
|
520,681 |
|
City Council
|
55,350
|
20,645 |
21,578 |
39%
|
33,772 |
|
Legal
|
175,000
|
12,987 |
23,523 |
13%
|
151,477 |
|
Non-Departmental
|
252,500
|
6,428 |
102,188 |
40%
|
150,312 |
|
Information Systems
|
349,597
|
29,698 |
51,690 |
15%
|
297,907 |
|
Library
|
688,142
|
58,873 |
121,995 |
18%
|
566,147 |
|
Facilities
|
510,982
|
30,981 |
60,743 |
12% |
450,239 |
|
Court
|
308,788
|
21,081 |
42,508 |
14%
|
266,280 |
|
Police
|
2,173,809
|
142,908 |
350,158 |
16%
|
1,823,651 |
|
P&D
|
744,625
|
45,185 |
95,480 |
13%
|
649,145 |
|
380 Payments
|
1,578,000
|
0 |
0 |
0%
|
1,578,000 |
|
Total Expenditures
|
7,456,631 |
407,053 |
969,020 |
13%
|
6,487,611 |
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.
|