THROUGH:
David N. Carmany, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Financial Reports:
Finance Department staff prepares a variety of financial reports for the City Council and Finance Subcommittee. Members of the public having questions regarding City financial transactions are encouraged to contact the Finance Director. The financial reports and the recommended actions are as follows:
a) Ratification of Demands: November 20, 2012
RATIFY
b) Payroll Register: November 21, 2012
RATIFY
c) Investment Portfolio for the Month Ending October 31, 2012
RECEIVE AND FILE
d) Financial Reports for the Month Ending October 31, 2012
RECEIVE AND FILE
Body
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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 $1,388,175.31. The value of the payroll register, including payroll related disbursements, for the November 21, 2012 payroll period is $1,287,235.34.
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 in 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 sufficient liquidity to support projected expenditures.
Financial Reports:
This package includes summary level financial reports for the month ending October 31, 2012. These reports mark the fourth month of the 2012-2013 fiscal year and reflect the annual budget adopted by City Council.
These reports provide monthly and year-to-date activity for all funds and departments presenting a snapshot of budget performance. A report highlighting the performance of key revenue sources is also included.
Attachments:
1. Warrant Register for November 20, 2012
2. Payroll Register for November 21, 2012
3. Investment Portfolio for the Month Ending October 31, 2012
4. Financial Reports for the Month Ending October 31, 2012