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City of San Leandro <br />Meeting Date: December 21, 2015 <br />Staff Report <br />Agenda Section:File Number:15-608 CONSENT CALENDAR <br />Agenda Number:8.O. <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 for Fiscal Year (FY) 2014-15 Year End Financial Review <br />(Information Only) <br />SUMMARY AND RECOMMENDATION <br />This report provides an update on FY 2014-15 financial performance for all City funds through <br />June 30, 2015 and unaudited year-end results for the General Fund and the City’s other <br />operating funds. This report is for informational purposes only. Audited year-end results will <br />be provided in the City’s Comprehensive Annual Financial Report (CAFR); scheduled to be <br />completed in December. <br />BACKGROUND <br />The City Council adopted the 2014-15 budget on June 3, 2013 and has modified it at various <br />points since. General Fund revised revenue projections for FY 2014-15 equal $84.5 million. <br />General Fund adjusted expenditure appropriations for FY 2014-15 equal $90.4 million; an <br />increase of $7.6 million over original adopted expenditure appropriations of $82.8 million. <br />DISCUSSION <br />This report provides the City Council with a summary of revenues and expenditures through <br />June 30, 2015 and compares them to the adjusted budget. As previously mentioned, the <br />presentation of financial data to the City Council is prior to the completion of the audited <br />financial statements. <br />Now that most of the major revenues for the fiscal year have been received and expenditures <br />appropriately charged to last year have been posted, the Finance Department is better able to <br />analyze year-to-date trends and year-end projections. Below is an analysis of revenues and <br />expenditures for the General Fund and other key operating funds. <br />Page 1 City of San Leandro Printed on 12/15/2015