Chapter 3.01
FINANCIAL REPORTING

Sections:

3.01.010    Financial status reporting.

3.01.020    Presentation contents.

3.01.010 Financial status reporting.

The finance officer, or the city administrator in the absence of the finance officer, shall present to the city council at the second council meeting following the end of each budget quarter a financial status report on the current year’s budget and fund investment portfolio. (Ord. 480 § 1, 1986).

3.01.020 Presentation contents.

The report shall consist of an oral overview and a printout of the city’s budget status from the prior quarter’s records, which shall include the actual quarterly expenditures and revenues of all discretionary and state-mandated, budgeted funds fund balances; and projected revenues and expenditures for the fiscal year for all operating and reserve budgets. Reserves required by state law and/or city ordinance shall be indicated by fund as unique line items. Each fund shall indicate the source of its revenue. The report shall also include a review and printout of the city’s investment portfolio which shall consist of all investment funds by investment amount, term, rate of return, form of security and location of investment. (Ord. 480 § 1, 1986).