City Council Regular Meeting


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Meeting Date: 09/16/2020  

RECOMMENDATION
Receive the report.
DISCUSSION
The Administrative Services Department produces quarterly financial reports to assist in evaluating the City’s fiscal condition.  The attached report provides details on General Fund revenues and expenditures, as well as a summary related to enterprise funds.   A supplementary section was added to provide a budgetary update on capital projects.  The Amended Budget included in this report reflects budgetary reductions that were initiated as a result of COVID-19.

Please note that although this report includes preliminary General Fund revenues and expenditures through the end of the fiscal year.  The City accrues June revenues and expenditures through the end of August.  Due to the timing of this report, additional reconciliation adjustments or year-end accruals may change the amounts presented in this report.  Final numbers will be presented with the Independent Auditors Report in December or January.

Staff plans to present the information included in this report at the Council Meeting, as well as provide a financial update on the City's enterprise funds.

Additional information regarding city finances, can be accessed from the following link:  https://www.cityofpacificgrove.org/about-city/finance 
OPTIONS
N/A.  This is informational only.
FINANCIAL IMPACT:
There is no fiscal impact.  This report is informational only.
  
GOAL ALIGNMENT: Financial Stability: Develop a strategic plan to better address current and future City expenditure and revenue, provide high quality muni services.
Attachments
Q4 Budget Report
PPT


    

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