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File #: 18-225    Version: 1 Name:
Type: Consent Calendar Status: Agenda Ready
File created: 3/5/2018 In control: Council and Authorities Concurrent Meeting
On agenda: 4/24/2018 Final action: 4/24/2018
Title: Monthly Financial Status and Investment Reports for February 2018
Attachments: 1. Monthly Financial Status Report February 2018, 2. Monthly Investment Report February 2018
Monthly Financial Status and Investment Reports for February 2018

In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the following reports for February 2018 are submitted for your information. The financial review as of February 28, 2018 provides a year-to-date financial update to the City Council for the current fiscal year. Analysis of the revenues collected and all expenditures through February 28, 2018 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 Report provides the budget to actual revenue and expenditure summaries for the General Fund, Special Revenue Funds and Enterprise Operating Funds, as well as expenditure summary for Capital Improvement Funds and Fund Reserve Balances. Any significant variances are explained in the report.

These reports provide year-to-date revenue and expenditure summaries and summary investment schedules.


Monthly Financial Status Report
The attached report summarizes the City's financial performances for the eight months ended February 28, 2018. Financial analysis for the report is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Funds.

With 67% of the year complete, General Fund revenues are at 66% of budget which is approximately $8.7 million lower than at the same time as the prior year. This is due to receiving one-time Sales Tax (triple flip true-up) and Intergovernmental (sale of Successor Agency property) payments in the prior year. General Fund expenditures are at 62% which is in line with the budget.

Total revenues for Enterprise Funds (Electric, Water, Sewer, Cemetery, Solid Waste, and Water Recycli...

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