Title
THIRD QUARTER BUDGET UPDATE
Recommendation
Summary:
The Finance Department prepares quarterly financial reports to review the status of revenues and expenditures for the City’s General Fund and to monitor budgetary trends in other City funds. This report contains information on revenues, expenditures, and estimated fund balance for the third quarter of Fiscal Year 2023-24. The FY 2023-24 third quarter financial report provides an analysis of the City’s financial activity from July 2023 through March 2024. An $8.9 million unrestricted General Fund operating surplus is projected for FY 2023-24 based on information currently available through the end of the third quarter.
Recommended Action:
Review and discuss this report and provide any recommendations for consideration by the City Manager and City Council