TO:
Honorable Mayor and Members of the City Council
THROUGH:
John Jalili, Interim City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Financial Reports:
a) Schedules of Demands: November 21, 2013
b) Investment Portfolio for the Month Ending October 31, 2013
c) Financial Reports for the Month Ending October 31, 2013
(Finance Director Moe).
RECEIVE AND FILE
Line
_________________________________________________________
Recommended Action
RECOMMENDATION:
Staff recommends that the City Council receive and file the attached schedules of demands and financial reports.
Body
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 total value of the warrant registers for the check run is $ 3,634,744.16.
BACKGROUND:
Finance staff prepares a variety of financial reports for City Council and the Finance Subcommittee. A brief discussion of the attached 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 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 there is sufficient liquidity to support projected expenditures.
Financial Reports:
This package includes summary level financial reports for the month ending October 31, 2013. These reports mark the fo...
Click here for full text