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File #: 1557-2018    Version: 1 Name:
Type: Afternoon Administrative Report Status: Agenda Ready
File created: 9/5/2018 In control: CITY COUNCIL
On agenda: 12/4/2018 Final action: 12/4/2018
Title: Fiscal Year 2018/19 First Quarter Report
Attachments: 1. ATCH 1 - Resolution with EX A, 2. ATCH 2 - First Quarter Report, Fiscal Year 2018/19
To: Honorable Mayor and Members of City Council

From: Brian Cochran, Finance Director

Prepared By: Jessie Gooch, Finance Analyst

Fiscal Year 2018/19 First Quarter Report


1. Receive and file the First Quarter Report for Fiscal Year 2018/19.
2. Adopt a resolution Approving Amendments to the Adopted Budget for the 2018/19 Fiscal Year.

The attached document is the City's First Quarter Report for Fiscal Year 2018/19 (July 1, 2018 through September 30, 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 2018/19 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.

The fourth section contains our project reports on the City's Capital Improvement Projects. Summary status reports on select Capital I...

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