REPORT TO COUNCIL
SUBJECT
Title
Action on Monthly Financial Status and Investment Reports for September 2018
Report
BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the following reports for September 2018 are submitted for your information. The financial review as of September 30, 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 September 30, 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.
DISCUSSION
Monthly Financial Status Report
The attached report summarizes the City's financial performance for the month ended September 30, 2018. Financial analysis for the report is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Funds.
With 25% of the year complete, General Fund revenues are at 23% of budget and General Fund expenditures are at 24% of budget, both trending as expected.
Total revenues for Enterprise Funds (Electric, Water, Sewer, Cemetery, Solid Waste, and Water Recycling) are at 25% which is equal to the same time as the prior year. Total expenses are at 24% which is on target with the budget.
Monthly Investment Report
All securities held by the City of Santa Clara as of September 3...
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