TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Onyx Jones, Interim Finance Director
Julie Bondarchuk, Financial Controller
Libby Bretthauer, Financial Services Manager
Marcelo Serrano, Budget & Financial Analyst
SUBJECT:Title
Financial Report:
a) Schedule of Demands: January 2025
b) Investment Portfolio Report: December 2024
c) Month End Financial Reports: December 2024
(No Budget Impact) (Interim Finance Director Jones).
ACCEPT REPORT AND DEMANDS
Body
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RECOMMENDATION:
Staff recommends that the City Council accept the attached reports and demands.
FISCAL IMPLICATIONS:
The financial report included herein is 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 total value of the warrant registers for January is $12,241,425.46.
BACKGROUND:
Finance staff prepares a variety of financial reports for the City Council and the Finance Subcommittee. A brief discussion of the attached report follows.
DISCUSSION:
Schedule of Demands:
Every month staff prepares a comprehensive listing of all disbursements with staff certification that the expenditure transactions listed have been reviewed and are within budgeted appropriations.
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 Investment Policies (or with Finance Subcommittee approved exceptions) and there is sufficient liquidity to support projected expenditures.
Month End Financial Reports:
This package includes summary level financial information for the month ending December 31, 2024. This report marks the sixth month of fiscal year 2025 and reflects the annual budget adopted by City Council. The report provides 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.
Lastly, a summary of balance sheet accounts managed by the City is included to provide the balances as of December 31, 2024. Balance sheet accounts record funds collected from private parties for a specific use together with the various expenditures that result from associated projects and activities. This report shows a brief description of each account along with its purpose, month-end balance, and the managing department.
PUBLIC OUTREACH/INTEREST:
After analysis, staff determined that public outreach was not required for this issue.
ENVIRONMENTAL REVIEW:
Not applicable.
LEGAL REVIEW:
The City Attorney has reviewed this report and determined that no additional legal analysis is necessary.
ATTACHMENTS:
1. Schedule of Demands for January 2025
2. Investment Portfolio for the Month of December 2024
3. Month End Report for the Month of December 2024