Stonecrest leaders clarify monthly operational reports, set finance cadence for work sessions

Council members and staff on Aug. 25 clarified how the city will publish operational reports and detailed financial reports going forward. The City Manager and Finance Director told council the charter requires the city manager to “make a full written report to the city council on the fifteenth of each month, showing the operations and expenditures of each department of the city government for the preceding month,” and council agreed that this operational synopsis will be published by the city clerk by the 15th.

Council and staff distinguished that the city manager’s operational report will be a departmental summary with total revenue and expense highlights and will not include general-ledger line-item detail. Director Gaines and the city manager said that detailed accounting requires time to close the month and reconcile transactions; as a result the finance director will present a full financial (general ledger) report at a subsequent work session roughly 45–60 days after the month closes so the figures can be posted and reviewed. “15 days after the month closes is not enough time for finance to close the books and to post and for the finance team to give it to you,” the city manager said. The council agreed that the operational synopsis and the later detailed finance presentation will both be posted to the city website; the operational synopsis will be posted by the 15th and the detailed finance report will post after the work session in which it is presented.

Council members discussed the difference between an operational synopsis and a detailed financial accounting. Councilman Terry Fai said he wanted clarity that the finance report will be available to the council before it is posted online; Director Gaines explained the work-session presentation cadence and said reports typically post roughly 45 days after the close of the accounting month. Council members said they were satisfied with that schedule but flagged that the reports are unaudited until professional audits are completed. The city manager added staff will continue to refine the presentation and publish project-status information from the capital improvement program as that software becomes available.