HomeMy WebLinkAboutAgenda Packet - May 26, 1987 - CC '7701
CITY OF AZUSA �\
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• 213 East Foothill Boulevard • P 0 Box WWW • Azusa, California 91702-1395 • (818) 334 5125 •
FINANCE DEPARTMENT INFORMATION ONLY
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TO: HONORABLE MAYOR AND MEMBERS OF E CITY COUNCIL
FROM: GEOFF CRAIG, DIRECTOR OF FINAN ‘10 ,, 0
DATE: MAY 26, 1987
SUBJECT: TREASURER'S REPORT
As explained in the City Treasurer's memorandum of May 13, 1987,
Finance has faced an obstacle in preparing the Treasurer's Report
for Council 's review. The primary reason had been a delay on the
part of the Bank in providing the general account statement.
This statement has been received and reconciled. However, all
members of the Finance Department are working to finish the audit
of the books from FY 1985-86, followed by the proposed budget for
FY 1987-88. With Council 's permission, I would like to postpone
the Treasurer's Report until the June 15 meeting.
A second obstacle is the cancellation of the May 18 Council
meeting. Due to public notice requirements, the first Revenue
Sharing Public Hearing had to be re-advertized and scheduled for
June 1. By law, the proposed budget cannot be presented to
Council for seven days following the hearing.
After another 10-day public notice period, Council may
concurrently hold the second Revenue Sharing and the proposed
budget hearings. Staff suggests that Council do this at a
special meeting scheduled any time between June 17 and June 30.
The budget for Fiscal Year 1987-88 can be adopted at this special
meeting or at any other meeting on or before July 31. Staff
suggests the meeting of July 6 for this purpose.
Unless word to the contrary is received by June 3, 1987, staff
will proceed under the above plan.
GJC:pap