UN-AUDITED
THIRD QUARTER
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 & Expenses On Target
Revenues are at 64.8% of Budget
• General Fund Revenues Sales tax and Other Tax are collected 1-2 months after relevant taxing period.
• Capital Projects –Due to the timing of transferring of funding and receipting for grant funds for capital projects
Expenses are at 63.9% of Budget
• Capital Projects Funds– are subject to timing of the projects in place and related activity incurred during the fiscal year.
GENERAL
FUND
Third Quarter
Budget Analysis
COMPARATIVE
REVENUES & EXPENDITURES
Property Tax, $ 1,161,066
Sales Tax, $ 3,476,234
Other Taxes, $
467,214
Licenses, Permits &
Franchises, $ 345,129
Rent, $
113,036
Other Agencies, $
235,187
Other Revenues, $
206,759
Community Development
Charges, $ 237,996
Public
Works
Charg
es, $
60,69 3
Public
Safety...
Investment Earnings,
$ 163,041
C
Transfers ...
In, $
54,005
ENTERPRISE FUNDS
SUMMARY OF WATER & WASTEWATER
FUNDS
ENTERPRISE FUNDS ANALYSIS
WATER
• Revenues are at
77.5% of budget
• Expenses are at
62.7% of budget
WASTEWATER
• Revenues are
at 79.8% of
budget
• Expenses are
at 72.7% of
budget
CASH & INVESTMENTS
SUMMARY OF CASH AND INVESTMENTS AT
MARCH 31, 2024
• Total Exceeds
$18.1M
• 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 - Laddered
Investments, $ 8,769,578,
48%
California Asset Management
Program (CAMP), $
7,970,669, 44%
Cash Held In Escrow , $
1,192,255, 7%
Exchange Bank Operating &
Payroll Accounts, $ 135,630,
1%
Local Agency Investment
Funds - (LAIF), $ 11,713, 0%
Sonoma County Investment
Pool - (SCIP), $ 18,766, 0%
Cash & Investments by Holding -
$18.1 Million
CONCLUSION
Fiscal Year was primarily on track with Budget and
improved over fiscal year 2022/23
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