Title
Staff Report for the Quarterly Financial Report as of September 30, 2013 for the 2013-14 General Fund, Special Revenue Funds, and Enterprise Funds Budget
Staffreport
SUMMARY AND RECOMMENDATION
Staff recommends that the City Council review and accept this staff report for the Quarterly Financial Report as of September 30, 2013 for the 2013-14 General Fund, Special Revenue Funds, and Enterprise Funds Budget.
BACKGROUND
The City Council-approved 2013-14 General Fund, Special Revenue Funds, and Enterprise Funds Budget is the annual plan and resource allocation that guides and ensures implementation of City Council policies and priorities. The budget implements the vision and direction for the broad range of services that meet the needs of the community in accordance with City Council policy. This financial review as of September 30, 2013 provides the first quarterly budget update to the City Council for the new fiscal year. Analysis of the revenues collected and all expenditures through September 30, 2013 measures the budget's adherence to the established resource allocation plan.
DISCUSSION
The adopted budget incorporates the estimated revenues and planned expenditures for all funds. The attached 2013-14 Quarterly Financial Report as of September 30, 2013 provides the revenue and expenditure summary for the General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service Funds. The following discussion focuses on variances from the revenue and expenditure plans and allocations contemplated in the adopted budgets.
General Fund
The General Fund finances the operations of the City that have no special or dedicated revenue sources and pays for basic municipal services. Projected 2013-14 General Fund expenditures total $80.3 million. Expected revenues of $79.5 million, including interdepartmental fund transfers, finance the anticipated expenditures.
The budget was approved with the operating revenues and expenditur...
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