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File #: 1361-2018    Version: 1 Name:
Type: Consent Calendar Status: Passed
File created: 4/6/2018 In control: CITY COUNCIL OF THE CITY OF NAPA
On agenda: 5/15/2018 Final action: 5/15/2018
Title: Fiscal Year 2017/18 Third Quarter Report
Attachments: 1. ATCH 1 - Resolution with EX "A", 2. ATCH 2 - First Quarter Report, Fiscal Year 2017/18
To: Honorable Mayor and Members of City Council

From: Brian Cochran, Finance Director

Prepared By: Jessie Sauter, Finance Analyst

TITLE:
Title
Fiscal Year 2017/18 Third Quarter Report

LABEL
RECOMMENDED ACTION:Recommendation
1. Receive the Third Quarter Report for Fiscal Year 2017/18.
2. Adopt a resolution approving Amendments to the Budget for the 2017/18 Fiscal Year.
Body

DISCUSSION:
The attached document is the City's Third Quarter Report for Fiscal Year 2017/18 (January 1, 2018 through March 31, 2018). The report includes a financial section which provides preliminary information on General Fund and proprietary fund revenue and expenditures through the first quarter of the fiscal year. The report compares revenue sources and department expenditures to the budgeted amounts for each category, as well as to the prior year revenue and expenditure trends for the same period. An analysis of each of the three major revenues categories (property tax, sales tax, and transient occupancy tax) is provided. Information about national, state and local economic indicators and concerns is also provided.

The report also includes a section discussing the City's Investment Portfolio. This section includes an overview of the portfolio's performance for the period, a detailed listing of investment assets, and a copy of the City's Investment Policy.

The third section of the report includes a description and status report of some of the key work program items that are scheduled for the 2017/18 fiscal year. The project reports, which focus on the project tasks occurring within this fiscal year are presented to keep the Council and the general public apprised of the priorities that have been assigned to the departments and to provide information on the progress achieved through the first quarter of this fiscal year.

Also included in the third section of the report is a status update on two projects that were carried forward from FY 2016/17. These projects were ...

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