Finance Highlights 2012 0504 - Laserfiche WebLink

Home

CITY OF SAN LEANDRO MEMORANDUM DATE: May 4, 2012 TO: Finance Committee FROM: Chris Zapata, City Manager BY: David Baum, Finance Director SUBJECT: Receive Third Quarter Financial Report as of March 31, 2012 for the 2011 -12 General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service Funds Budget SUMMARY AND RECOMMENDATION Staff recommends that the Finance Committee review and approve the Third Quarter Financial Report as of March 31, 2012 for the 2011 -12 General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service Funds Budget. BACKGROUND The City Council- approved 2011 -12 General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service 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 March 31, 2012 provides the third quarter budget update to the City Council this fiscal year. Analysis of the revenues collected and all expenditures through March 31, 2012 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 Third Quarter Financial Report as of March 31, 2012 provides the revenue and expenditure summary for the General Fund, Redevelopment Agency /Successor Agency, Enterprise Funds, and Internal Service Funds. The following discussion focuses on variances from the revenue and expenditure plans and allocations contemplated in the 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. Budgeted 2011 -12 General Fund expenditures