Title
Financial Report - City of Colorado Springs
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 December 12, 2017, per Ordinance No. 17-116, City Council approved the 2018 Budget.
Background:
This report provides end-of year revenue and expenditure estimates, including a table showing the percentage of current budget spent by appropriating department.
The report also includes a Grants overview and a Memorial Health System update.
The Finance Department considers these reports to be a work-in-progress and is open to modifying content and presentation as City Council requests.
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 between 0.5 and 0.6% above budget for revenue and approximately 0.22% and 0.23% under budget for expenditures.
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
N/A
Summary of Ordinance Language
N/A