Mayor and Council

   For the meeting on:

  November 19, 2012
   Department:   Finance
   Responsible staff:  Stacey Webster, Budget and Finance Manager
  phone: (240) 314 - 8407

First Quarter FY 2013 Financial Report

Staff recommends that the Mayor and Council review and file the First Quarter FY 2013 Financial Report.

This report presents FY 2013 revenue and expenditure data for the City's General and Enterprise funds. This report includes the FY 2013 adopted budget and FY 2013 actual expenditures and revenues through September 30, 2012, along with fund and cash balances for the first quarter. Historical data for the same time period last fiscal year is also included for comparison purposes.

The format of this report is new for FY 2013 and is intended to answer the Mayor and Council's concerns about how the funds are doing compared to previous years and how the funds are doing relative to their current cash balance targets. When preparing this new report format, staff reviewed reports from other jurisdictions and looked for recommendations from the Government Finance Officers Association on best practices in financial reporting. This new report format presents the quarterly financial information in a more readable and user-friendly manner.

Mayor and Council History
This is the first Quarterly Financial Report for FY 2013.

Attachment A - First Quarter FY 2013 Financial Report
1Q FY13 Financial Report.pdf1Q FY13 Financial Report.pdf

Department Head:

Gavin Cohen, Chief Financial Officer
Approved on: 11/08/2012

City Manager:

Approved on: 11/13/2012