TO:
Honorable Mayor and Members of the City Council
THROUGH:
Mark Danaj, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Financial Report:
a) Schedule of Demands: November 12, 2015
b) Investment Portfolio for the Month Ending October 31, 2015
c) Month End Report for October 31, 2015
(Finance Director Moe).
ACCEPT REPORT AND DEMANDS
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council accept the attached report and demands.
Body
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 register for November 12, 2015 is $582,084.16.
BACKGROUND:
Finance staff prepares a variety of financial reports for City Council and the Finance Subcommittee. A brief discussion of the attached report follows.
DISCUSSION:
Schedule 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.
Please note that this warrant reflects a one-time change in check issuing dates. In lieu of the normal two week cycle for warrants, checks were issued one week after the prior register to accommodate a change in check issuing schedule, designed to improve efficiencies in the Finance Department. The warrant register resumes the two week cycle with the next check date.
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 suf...
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