Title
First Quarter Financial Report - Fiscal Year (FY) 2024/25
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FileID
File ID: 2024-01902
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Location
Location: Citywide
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Recommendation
Recommendation: Receive and file.
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Contact
Contact: Mirthala Santizo, Budget Manager, (916) 808-5078, Department of Finance
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-First Quarter Financial Report
3-Measure U Programming Update
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Description/Analysis
IssueDetail
Issue Detail: The purpose of the quarterly report is to provide the City Council with timely information regarding the City’s current financial condition. The attached report provides an update on the City’s major revenues and department expenditures through the first quarter of FY2024/25 (Attachment 1).
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PolicyConsiderations
Policy Considerations: The quarterly financial reporting to the City Council is intended to provide an overview of the City’s financial status consistent with Section 61 of the City Charter.
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EconomicImpacts
Economic Impacts: Not applicable.
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EnvironmentalConsiderations
Environmental Considerations:
California Environmental Quality Act (CEQA): This report concerns administrative activities and government fiscal activities that do not constitute a “project” as defined by the CEQA Guidelines Sections 15378(b)(2) and 15378(b)(4) and are not subject to the provisions of CEQA (CEQA Guidelines 15060(c)(3)). CEQA review for any project, which utilizes funds allocated in this report, has been or will be performed in conjunction with planning, design, and approval of each specific project as appropriate.
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Sustainability
Sustainability: Not applicable.
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Commission/CommitteeAction
Commission/Committee Action: Not applicable.
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RationaleforRecommendation
Rationale for Recommendation: The City Manager is responsible for reporting in accordance with the authority granted by Section 61 of the City Charter.
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FinancialConsiderations
Financial Considerations: The quarterly report reflects the City’s continuing need to actively monitor revenues and manage expenditures. Finance staff will continue to work with all department staff toward achieving budgetary goals over the remainder of the fiscal year.
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LocalBusinessEnterprise(LBE)
Local Business Enterprise (LBE): No goods or services are being purchased under this report.
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