Title
A Motion to Acknowledge the Timely Receipt of the December 2024 Monthly Financial Report
Brief Description: Financial summaries are provided each month for Council’s review.
Body
Legislative History
None.
Purpose & Explanation
Pursuant to the State Auditor’s request, City Council must formally acknowledge the receipt of monthly financial reports. This report fulfills the reporting required by Section 5.04 (g) and (h) of the City Charter.
The City’s 12/31/2024 unencumbered General Fund carryover balance was $17,347,003. The 2025-2029 Five Year Plan projected a carryover balance of $15,865,843 leaving an excess carryover balance of $1,481,160.
Timing Considerations
The report submitted is for the preceding month.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required
Recommendation
Suggested Action
Staff recommends that City Council acknowledge receipt of the monthly financial report.
Submitted by,
Thomas J. Sheridan, City Manager
Jeffrey F. Knoblauch, Assistant City Manager - Finance Director