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File #: 17-1397    Version: 1 Name:
Type: Informational Report Status: Filed
File created: 11/27/2017 In control: Council Work Session
On agenda: 2/12/2018 Final action: 2/12/2018
Title: Financial Report - City of Colorado Springs Presenter: Charae McDaniel, Chief Financial Officer
Attachments: 1. Monthly Financial Report.Final

 

 

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, a grants overview, MHS update, and a number of economic indicators.

 

  Previous Council Action: 

On November 22, 2016, per Ordinance No. 16-116, City Council approved the 2017 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 up to 0.1% above budget for revenue and approximately 1.62% to 1.63% under budget for expenditures.

 

  Board/Commission Recommendation:

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  Stakeholder Process:

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  Alternatives:

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Recommended Action

  Proposed Motion:

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Summary of Ordinance Language

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