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) Schedule of Demands: February 27, 2014.
b) Investment Portfolio for the Month Ending January 31, 2014.
c) Financial Reports for the Month Ending January 31, 2014.
(Finance Director Moe).
RECEIVE AND FILE
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council receive and file the attached 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 register for February 27, 2014 is $3,446,129.76.
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 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.
Financial Reports:
This package includes summary level financial reports for the month ending January 31, 2014. These reports mark the seventh month of the 2013-2014 fiscal year and reflect the annual budget adopted by City Council.
These reports provide monthly and year-to...
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