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City of San Leandro <br />Meeting Date: November 7, 2016 <br />Staff Report <br />Agenda Section:File Number:16-523 CONSENT CALENDAR <br />Agenda Number:8.F. <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) 2015-16 Year End Financial Review <br />SUMMARY AND RECOMMENDATION <br />This report provides an update on FY 2015-16 financial performance for all City funds through <br />June 30, 2016 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 2016. <br />BACKGROUND <br />The City Council adopted the 2015-16 budget on June 1, 2015 and has modified it at various <br />points since. General Fund revised revenue projections for FY 2015-16 equal $95.3 million; <br />an increase of approximately $70,000 over original adopted revenue projections of $95.2 <br />million. General Fund adjusted expenditure appropriations for FY 2015-16 equal $99.2 <br />million; an increase of $5.7 million over original adopted expenditure appropriations of $93.5 <br />million. <br />DISCUSSION <br />This report provides the City Council with a summary of revenues and expenditures through <br />June 30, 2016 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 11/1/2016