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City of San Leandro <br />Meeting Date: April 4, 2016 <br />Staff Report <br />Agenda Section:File Number:16-151 CONSENT CALENDAR <br />Agenda Number:8.G. <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 the Mid-Year Financial Report as of December 31, 2015 <br />(Information Only) <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council review and accept the Mid-Year Financial Report as <br />of December 31, 2015. <br />BACKGROUND <br /> <br />The Adopted Fiscal Year (FY) 2015-16 General Fund, Special Revenue Funds, and <br />Enterprise Funds Budget guides and ensures implementation of City Council policies and <br />priorities. The budget implements the vision and direction for the broad range of services that <br />meet the needs of the community in accordance with City Council policy. This financial review <br />as of December 31, 2015 provides the mid-year budget update to the City Council for the <br />current fiscal year. Analysis of the revenues collected and all expenditures through December <br />31, 2015 measures operational adherence to the established budgetary allocation plan. <br /> <br />DISCUSSION <br /> <br />The adopted budget incorporates the estimated revenues and planned expenditures for all <br />funds. The attached 2015-16 Mid-Year Financial Report as of December 31, 2015 provides <br />revenue and expenditure summaries 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 budgetary <br />allocation plan and also offers comparison to the prior year. <br /> <br />General Fund <br /> <br />The General Fund finances the operations of the City that have no special or dedicated <br />Page 1 City of San Leandro Printed on 3/29/2016