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:
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 0.5% above budget for revenue and between 0.28% and 0.30% 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