Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance staff reports April budget performance and March investment balances
Summary
City finance staff told council April revenues exceeded projections in several funds and presented March investment-pool balances; staff said expenditures remain below budget percentages in most funds.
Finance staff presented the city’s April financial report and a March quarterly investment summary. The general fund was reported as exceeding budget through April on property tax, licenses, permits and fines; expenditures were below budget at about 40.46% of the fiscal year. Staff noted utility fund year-to-date revenues at 50.86% and expenditures at 37.41%.
On investments the staff outlined portfolio balances and EDC Type A and B account balances; staff described a large investment-pool structure and attached a cash report for April. No council questions were recorded on the investment presentation during the meeting.
Staff said they are in the final stages of the city’s audit and are implementing OpenGov procurement and ERP improvements to streamline processes.
