Camarillo City Council
AGENDA REPORT
Date: March 27, 2024
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Mark Uribe, Finance Director
Subject: Revenue & Expenditure Report for February 2024
BACKGROUND
Pursuant to the City’s Fiscal Management Policy 3.01, a monthly Revenue and Expenditure Report detailing the City’s financial status including revenues, expenditures, transfers in/out, and the current fund balance/net position by Governmental and Proprietary Funds, will be provided to City Council for review.
DISCUSSION
The “Current Budget” column pertains to the current fiscal year budget that has been adopted and also includes mid-year adjustments approved by City Council on February 14, 2024. The “Actual Year-to-Date” columns present the cumulative year to date revenues and expenditures for the current fiscal year and prior fiscal year. And lastly, the “Variance with Prior Year” column calculates the net difference between the current fiscal year to date balance and the prior fiscal year to date balance. Many of the large year- over-year variances are due to one-time expenditures and recurring expenditures are expected to be within budget at fiscal year-end. The report for February is preliminary due to the timing of when the report is prepared versus when the reporting month closes.
FISCAL IMPACT
There is no budget impact as a result of this action.
RECOMMENDATION
Receive and file report.
ATTACHMENTS
1. Revenue & Expenditure Report for February 2024 - Preliminary
Revenue & Expenditure Report for February 2024
March 27, 2024
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REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None