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Agenda No. 15.
 
CITY COUNCIL MEMORANDUM
 
City Council Meeting: July 26, 2022
Department: Finance
Subject: Quarterly Financial Reports

BACKGROUND

Quarterly, Staff will submit to council unaudited financial reports as an update on the City's fiscal and budget performance. Some payments that must be recorded in this quarter can occur months after the close of the period. In those cases, staff attempts to estimate the value based on prior year's fiscal performance and current year trends. The Comprehensive Annual Financial Report to be published after the fiscal year end will include actual revenue and expenses for the accounts estimated in the quarterly financial report.

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