HomeMy WebLinkAboutE-11 Staff Report - Treasurers Report of Receipts, Disbursements and Fund Balances Mar-May 2018CONSENT ITEM
E-11
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
VIA: SERGIO GONZALEZ, CITY MANAGER
FROM: ART VASQUEZ, CITY TREASURER
TALIKA M. JOHNSON, DIRECTOR OF FINANCE
DATE: AUGUST 20, 2018
SUBJECT: CITY TREASURER’S ACCOUNTING OF ALL RECEIPTS, DISBURSEMENTS AND
FUND BALANCES FOR THE MONTHS OF MARCH 2018 THROUGH MAY 2018
BACKGROUND:
California Government Code Section 41004 requires the City Treasurer to submit to the City Clerk and
the City’s legislative body a written report and accounting of all receipts, disbursements and fund
balances monthly. The recommended action requests the City Council receive and file the attached
reports for the periods of July 2017 through February 2018.
RECOMMENDATION:
Staff recommends the City Council take the following actions:
1)Receive, review, and file the City Treasurer’s Reports of Receipts, Disbursements and Fund
Balances for the months of March 2018 through May 2018.
ANALYSIS:
The City Treasurer and Finance Department currently reports to the City Council statements of citywide
cash and investments and summaries of disbursements made via the accounts payable process on a
monthly basis. While these reports will continue to be presented to the Council, California Government
Code Section 41004 requires at least once each month, the city treasurer submit to the city clerk a
written report and accounting of all receipts, disbursements, and fund balances and that the city treasurer
file a copy with the legislative body. Therefore, the City Treasurer’s future monthly Statement of Cash
and Investment Balances report to Council will be expanded to include Accounting of all Receipts,
Disbursements, and Fund Balances in a format that complies with the government code and prepared by
Finance Staff.
APPROVED
CITY COUNCIL
8/20/2018
Received and Filed
Accounting of Receipts, Disbursements, and Fund Balances
August 20, 2018
Page 2
In order to comply with the requirements of Government Code Section 41004, Finance Staff has
prepared monthly statements containing cash balance details and summaries along with fund balance
summaries. The attached statements provide a snapshot of the General Ledger cash and fund balances at
the end of each month. Due to the timing of inflows and outflows of revenues and disbursements, cash
and fund balances may vary dramatically from month-to-month. Thus, the reported balances at each
month end may not reflect the audited financial status of each Fund at year-end closing.
FISCAL IMPACT:
There is no fiscal impact associated with the recommended action.
Prepared by: Reviewed and Approved:
Talika M. Johnson Sergio Gonzalez
Director of Finance City Manager
Attachments:
1) City Treasurer’s Report of Receipts, Disbursements and Fund Balances – March 2018
2) City Treasurer’s Report of Receipts, Disbursements and Fund Balances – April 2018
3) City Treasurer’s Report of Receipts, Disbursements and Fund Balances – May 2018
Attachment 1
Attachment 2
Attachment 3