Title
City Financial Report
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
This financial update includes an overview of revenues and expenditures for the year to date, and a number of economic indicators.
Previous Council Action:
On November 27, 2018, per Ordinance No. 18-118 City Council approved the 2019 Budget.
Background:
The monthly financial report provides an end of year revenue estimate and a table comparing the percentage of current budget spent by appropriating department compared to the prior year. The report also includes a Grants overview, a Sales and Use Tax collection overview, and updates on economic indicators.
Financial Implications:
Based upon the current end of year estimates, the City’s General Fund, its most significant fund used to provide core municipal services, is trending 1% above budget for revenue and has expended 52% of budget through June 30.
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
N/A
Summary of Ordinance Language
N/A