HomeMy WebLinkAboutE-10 Staff Report - Treasurers Report of Receipts, Disbursements and Fund Balances October 2018CONSENT ITEM
E-10
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: MARCH 18, 2019
SUBJECT: CITY TREASURER’S ACCOUNTING OF ALL RECEIPTS, DISBURSEMENTS AND
FUND BALANCES FOR THE MONTH OF OCTOBER 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
report for the month October 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 month of October 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.
APPROVED
CITY COUNCIL
3/18/2019
Received and filed
Accounting of Receipts, Disbursements, and Fund Balances
March 18, 2019
Page 2
In order to comply with the requirements of Government Code Section 41004, Finance Staff has
prepared the October 2018 monthly statement 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 October 2018. 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:
Henry Quintero Sergio Gonzalez
Senior Accountant City Manager
Attachment:
1) City Treasurer’s Report of Receipts, Disbursements and Fund Balances – October 2018
Attachment 1