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File #: 22-513    Version: 1 Name:
Type: Consent Calendar Status: Agenda Ready
File created: 4/5/2022 In control: Council and Authorities Concurrent Meeting
On agenda: 6/21/2022 Final action: 6/21/2022
Title: Action on Monthly Financial Status and Investment Reports for April 2022 and Approve the Related Budget Amendments
Attachments: 1. Monthly Financial Status Report - April 2022, 2. Monthly Investment Report - April 2022, 3. FY 2021/22 Budget Amendments
REPORT TO COUNCIL
SUBJECT
Title
Action on Monthly Financial Status and Investment Reports for April 2022 and Approve the Related Budget Amendments

Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency

BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the monthly financial report and monthly investment report for April 2022 are submitted for your information. The financial reviews as of April 30, 2022 provide a year-to-date financial update to the City Council for the current fiscal year. The analysis of the revenues collected and all expenditures measures the level of adherence to the established resource allocation plan and allows the City to monitor and project revenues and expenditures throughout the year.

The Adopted Budget incorporates the estimated revenues and planned expenditures for all funds. The attached Financial Status Reports provide the budget to actual revenue and expenditure summaries for the General Fund, Special Revenue Funds and Enterprise Operating Funds, as well as expenditure summaries for Capital Improvement Funds and fund reserve balances. Any significant variances are explained in the reports.

In accordance with City Council Policy 051 - Donations to the City, included in these reports are monthly activity and annual summary of donations received by department. Although the requirement of the policy is to report quarterly, in its ongoing effort to streamline reporting, the City will include this information monthly in the financial status report.

DISCUSSION

Monthly Financial Status Report (Attachment 1)
The attached reports summarize the City's financial performance as of April 30, 2022 (Attachment 1). Financial analysis for these reports is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Funds.

Attachment 1 shows that General Fund revenues at 76.2% of the budget through April 2022. Revenues ar...

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