DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: Maria Villagomez
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Update on FY 2013 Preliminary Year End
SUMMARY:
During the Thursday, December 19th City Council "A" Session, City Council will be provided an informational briefing on the City's Fiscal Year (FY) 2013 Budget and Finance status for the close of the fiscal year (October 2012 through September 2013). The presentation will highlight the preliminary actual revenues and expenditures for the close of the fiscal year within the General Fund and Restricted Funds.
BACKGROUND INFORMATION:
The FY 2013 Adopted Operating and Capital Budget was approved by City Council on September 13, 2012 for the period of October 1, 2012 to September 30, 2013. In an effort to keep City Council and residents updated and informed on the City's FY 2013 Budget, various presentations and reports have been provided to City Council throughout the year and have been made available on the City's website. Additionally, the City Manager, Budget Director, and Chief Financial Officer meet monthly to review expenditures and revenues and report quarterly to City Council.
The Three Plus Nine Budget and Finance Report was presented to City Council on February 13, 2013 and focused on the City's financial performance for the First Quarter (October through December) of FY 2013. The Six Plus Six Budget and Finance Report was presented to City Council on May 29, 2013 to provide FY 2013 Second Quarter actual revenue and expenditure amounts compared to the budgeted amounts. In addition, City Council was presented the Financial Forecast for FY 2014 through FY 2018. Following the Six Plus Six and Financial Forecast presentation, City Council approved the FY 2013 Mid-Year Budget Adjustment on May 30, 2013, which revised the budget based on actual and projected variances in revenues and/or unanticipated variances in expenditures in the General Fund ...
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