TO:
Honorable Mayor and Members of the City Council
THROUGH:
David N. Carmany, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Financial Reports:
a) Schedule of Demands: August 29, 2013.
b) Investment Portfolio for the Month Ending July 31, 2013.
c) Financial Reports for the Month Ending July 31, 2013.
(Continued from September 17, 2013, City Council Meeting)
RECEIVE AND FILE
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council receive and file the Financial Reports.
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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 the August 29, 2013 check run is $3,446,800.56
BACKGROUND:
Finance staff prepares a variety of financial reports for City Council and Finance Subcommittee. A brief discussion of the enclosed reports follows.
DISCUSSION:
Schedule of Demands:
Every two weeks staff prepares a comprehensive listing of all disbursements (warrant and payroll registers) with staff certification that the expenditure transactions listed have been reviewed and are within budgeted appropriations. Staff recommends that the City Council receive and file the attached schedule 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 there is sufficient liquidity to support projected expenditures.
Financial Reports:
This package includes summary level financial reports for the month ending July 31, 2013. These reports mark the first month of the 2013-2014 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.
CONCLUSION:
Staff recommends that the City Council receive and file the attached schedule of demands, and financial reports.
Attachments:
1. Warrant Register for August 29, 2013
2. Investment Portfolio for the Month Ending July 31, 2013
3. Financial Reports for the Month Ending July 31, 2013