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City of San Leandro <br />Meeting Date: May 6, 2013 <br />Staff Report <br />Agenda Section:File Number:13-212 CONSENT CALENDAR <br />Agenda Number:8.D. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report on the Third Quarter Financial Report as of March 31, 2013 for <br />the 2012-13 General Fund, Special Revenue Funds, Enterprise Funds, and <br />Internal Service Funds Budget and Quarterly Report on Sales Tax and <br />Business Activity <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council review and approve the Third Quarter Financial <br />Report as of March 31, 2013 for the 2012-13 General Fund, Special Revenue Funds, <br />Enterprise Funds, and Internal Service Funds Budget and attached Quarterly Report on Sales <br />Tax and Business Activity. <br />BACKGROUND <br />The City Council-approved 2012-13 General Fund, Special Revenue Funds, and Enterprise <br />Funds Budget in the annual plan and resource allocation that guides and ensures <br />implementation of City Council policies and priorities. The budget implements the vision and <br />direction for the broad range of services that meet the needs of the community in accordance <br />with City Council policy. This financial review as of March 31, 2013 provides the third quarter <br />budget update to the City Council for the new fiscal year. Analysis of the revenues collected <br />and all expenditures through March 31, 2013 measures the budget’s adherence to the <br />established resource allocation plan. <br />DISCUSSION <br />The adopted budget incorporates the estimated revenues and planned expenditures for all <br />funds. The attached 2012-13 Third Quarter Financial Report as of March 31, 2013 provides <br />the revenue and expenditure summary for the General Fund, Special Revenue Funds, <br />Enterprise Funds, and Internal Service Funds. The following discussion focuses on variances <br />from the revenue and expenditure plans and allocations contemplated in the budgets. <br />Page 1 City of San Leandro Printed on 4/30/2013