TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Steve S. Charelian, Interim Finance Director
Henry Mitzner, Controller
SUBJECT:Title
Financial Report:
a) Schedule of Demands: June 7, 2018
b) Investment Portfolio for the Month Ending May 31, 2018
c) Month End Report for the Month Ending May 31, 2018
(Interim Finance Director Charelian).
ACCEPT REPORT AND DEMANDS
Line
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council accept the attached reports 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 registers for June 7, 2018 is $4,118,588.24.
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.
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 Report:
This package includes summary level financial information for the month ending May 31, 2018. This report marks the eleventh month of the fiscal year 2017-2018, and reflects the annual budget adopted by City Council.
The report provides monthly and year-to-date activity ...
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