TO:
Honorable Mayor Powell and Members of the City Council
THROUGH:
David N. Carmany, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Financial Reports:
a) Ratification of Demands: October 23, 2012
RATIFY
b) Payroll Registers: October 11, 2012 and October 25, 2012
RATIFY
c) Investment Portfolio for the Month Ending September 30, 2012
RECEIVE AND FILE
d) Financial Reports for the Month Ending September 30, 2012
RECEIVE AND FILE
Body
RECOMMENDATION:
Staff recommends that the City Council ratify the attached schedules of demands, and receive and file these reports.
FISCAL IMPLICATIONS:
The financial reports included herein, are designed to communicate fiscal activity based upon adopted and approved budget appropriations. No further action of a fiscal nature is requested as part of this report.
The value of the warrant register for this period is $3,399,135.04. The value of the payroll register, including payroll related disbursements, for the October 11, 2012 and the October 25, 2012 payroll periods is $2,471,902.58.
BACKGROUND:
Finance staff prepares a variety of financial reports for City Council and Finance Subcommittee. A brief discussion of the enclosed reports follows.
DISCUSSION:
Ratification of Demands:
Every two weeks staff prepares a comprehensive listing of all disbursements with staff certification that the expenditure transactions listed have been reviewed and are within budgeted appropriations. New with this report is a separation of payroll-related warrants, implemented to improve the agenda timing and process. Staff recommends that the City Council ratify the attached schedules of demands.
Investment Portfolio: Detailed investment reports are provided to the Finance Subcommittee with summary reporting to City Council. The month end portfolio includes a certification by the Finance Director that all investments comply with established Financial Policies (or with Finance Subcommittee approved exceptions) and provide suff...
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