Un-Audited Mid-Year
Budget & Actuals Review
Fiscal year 2023/24 City of Cotati
Financial
Reporting
• Citywide Overview
• General Fund
• Enterprise Funds
• Cash & Investments
City Wide
Citywide Revenues & Expenses
Citywide Overview
Revenues and Expenses
On Target
Revenues are at 38.8% of
Budget
General Fund Revenues Sales tax
and Other Tax are collected 1-2
months after relevant taxing
period.
Internal Service – Decreased
revenue due to reduced payout
transfers of funds required (time
to purchase replacement
vehicles).
Capital Projects – Decreased due
to the timing of capital projects
Expenses are at 38.1% of
Budget
Capital Projects Funds– are
subject to timing of the projects in
place and related activity incurred
during the fiscal year.
General
Fund
Mid-Year Budget
Analysis
Comparative
Revenues & Expenditures
Property Tax, $ 1,161,066
Sales Tax, $ 2,054,491
Other Taxes, $
255,800
Licenses, Permits &
Franchises, $ 182,860 Rents, $ 82,577
Other Agencies,
$ 158,902
Community
Development
Charges, $
172,959
Public Works
Charges, $
40,338
Public Safety
Charges, $
38,434
Code...
Other
Revenues
, $...
Investment
Earnings, $
83,578
Contrib
ution...
Transfers
In, $
50,722
Proportion of General Fund Revenues
Enterprise Funds
SUMMARY OF WATER AND WASTEWATER FUNDS
Enterprise Funds Analysis
WATER
• Revenues are
at 55.2% of
budget
• Expenses are
at 43.2% of
budget
WASTEWATER
• Revenues are
at 50.4% of
budget
• Expenses are
at 44.4% of
budget
Cash &
Investments
Summary of Cash and Investments at
December 31, 2023
• Total Exceeds
$19.2M
• In line with the City
adopted investment
policy.
• Enough to meet
operational needs
for next 6 months in
fiscal year.
• City Utilizes Pooled
Cash and
Investments.
US BANK TRUST, $
8,618,766, 46%
$ -, 0%
CAMP, $ 8,268,683,
44%
OPERATING CASH, $
715,420, 4%
HELD IN ESCROW, $
1,238,492, 7%
LAIF, $ 11,474, 0%
SCIP, $ 86,059, 0%
Investment Portfolio Composition
$19.2 Million
Conclusion
Fiscal Year was primarily
on track with Budget and
improved over fiscal year
2023/24
Budget Adjustment
Requests for:
Increasing Investment
Earnings by $120,000 to
$165,600
City staff will continue to
update the Council with
quarterly financial reports
as well as the audited
financial for Fiscal year
2023/24
City staff are committed to
exercising prudence and
integrity in the management
of public funds and provide
transparent accountability
for its use