HomeMy WebLinkAboutCC AG PKT 2010-07-12#CCAGENDA STAFF REPORT
DATE: July 12, 2010
TO: Honorable Mayor and City Council
THRU: David Carmany, City Manager
FROM: Robbeyn Bird, CPA
Director of Administrative Services /City Treasurer
SUBJECT: REVIEW OF GENERAL FUND REVENUES &
EXPENDITURES FISCAL YEAR 2009/10
SUMMARY OF REQUEST:
That the City Council receive and file the report of General Fund revenues and
expenditures for fiscal year ended June 30, 2010.
BACKGROUND:
At the June 12, 2010 City Council meeting, Councilmember Miller requested that
a presentation be given to the Council at the next scheduled City Council
meeting. The following is a summary of the fiscal year ended June 30, 2010
General Fund revenues and expenditures:
Fiscal Year Ended June 30, 2010 operating revenues and expenditures are
projected to be $26,642,000 and $26,176,230, respectively. This results in a net
increase in fund balance of $465,770, which brings the General Fund balance to
$36,930,897. Of that amount, $25,025,738 is designated for capital projects
leaving an undesignated fund balance of $3,608,855.
During the fiscal year, there were budget amendments approved by the City
Council of $396,100 for various expenditures.
Initially, Administrative Services projected expenditures exceeding revenues by
approximately $600,000. This was due to the decline in the economy resulting in
a decline of revenues. The largest declines were in sales tax, interest, and the
utility user's tax.
At that time, the City Manager directed all departments to take the following
actions:
Agenda Item CC
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A hiring freeze was put into effect for all non - essential positions.
All over -time for non - safety personnel was eliminated.
Purchases were suspended until the new fiscal year.
These actions by the City Manager resulted in a positive contribution to fund
balance for the fiscal year ended 2009/10.
This directive will remain in effect for the 2010 /11 fiscal year with the exception of
budgeted purchases. In addition, the following items will also be put into place:
• No contributions to the Vehicle Replacement Fund will be made during
2010/11.
• Budgeted furniture for the Police Department will be postponed until it is
determined that the revenues are sufficient to cover the cost.
• Administrative Services will continue to monitor revenues /expenditures
closely throughout the fiscal year.
• City staff will spend conservatively throughout the fiscal year purchasing
only essential items needed to complete ongoing City business.
• Vendor contracts will be re- negotiated when possible to obtain additional
cost savings.
As mentioned above, the Administrative Services Department will continue to
closely monitor revenues /expenditures during the 2010 /11 fiscal year and work
closely with the City Manager to implement cost saving measures to ensure the
future fiscal stability of the City.
At this point in time, the Administrative Services Department is finalizing the fiscal
year 2009/10 revenues and expenditures. Therefore, the numbers in this report
will vary slightly because the numbers in this report are projected. The
Administrative Services Department is confident; however, that the variances will
not be significant.
FINANCIAL IMPACT:
None.
RECOMMENDATION:
Receive and file the report of General Fund revenues and expenditures for fiscal
year ended June 30, 2010.
SUBMITTED BY:
Robbeyqi Bird, CPA - Director of
Administrative Services /City Treasurer
NOTED AND APPROVED:
2•--J
David Carmany, City Manager