UN-AUDITED
FISCAL YEAR END
BUDGET & ACTUALS REVIEW
Fiscal Year 2023/24
Un-Audited Year ending June 30, 2024
City of Cotati
FINANCIAL REPORTING
Citywide Overview
General Fund
Enterprise Funds
Cash and Investments Portfolio
CITYWIDE
CITYWIDE -
REVENUES &
EXPENSES
Revenues and Expenses On Target
•Wastewater – Pending Operating Transfer of
Funds from the operations fund to the capital fund
of $244K.
•Other Special Revenues – Due to Timing of
Receipts for Revenues and year end accrual
adjustments (exp. sales tax pass through from the
county).
•Capital Projects – Pending Transfers in True-ups
as well as final year end grant billing
Revenues are at 95.9% of Budget
•General Fund – Includes proposed adjustments to
budget for Transfers $700K and Rec. $40K
•Capital Projects and Special Revenue Funds– are
subject to timing of the projects in place and
related activity incurred during the fiscal year.
•Internal Service- Pending true-up of compensated
absences use of funds
Expenses are at 89.6% of Budget
GENERAL FUND
COMPARATIVE
REVENUES &
EXPENDITURES
DETAILED ADJUSTED
REVENUES
(REMOVED ONE TIME RECEIPT FROM PY)
PROPORTION OF
GENERAL FUND REVENUES
Property Tax, $ 2,083,756
Sales Tax, $ 5,932,192
Other Taxes, $ 715,810
Licenses, Permits &
Franchises, $ 642,128
Rent, $
141,301
Other Agencies, $
285,361
Charges for
Services, $ 491,308
Other Revenues, $
280,116
Investment
Earnings, $
199,829
C
...
Transfers In, $
436,390
DETAILED ADJUSTED EXPENDITURES
(INCLUDES PROPOSED BUDGET AMENDMENTS)
ENTERPRISE
FUNDS
SUMMARY OF WATER AND
WASTEWATER FUNDS
ENTERPRISE FUNDS ANALYSIS
Revenues and Expenses On Target
• Wastewater fund is pending a transfer in to
the wastewater capital fund from the
operating fund.
Revenues are at 102% and 97% of
Annual Budget
• Capital Projects are subject to timing.
(Pending Same Transfer mentioned above)
• Increased expenditures consistent with
general fund across salaries and benefits
and legal and insurance.
Expenses are at 96% and 93% of
Annual Budget
CASH &
INVESTMENT
S
Active Investment
Management
One Year of Impacts
FY 2023/24
SUMMARY OF CASH
AND INVESTMENTS AT
JUNE 30, 2024
• Total approximately $18.9M.
• In line with the City updated adopted investment
policy.
• Investments for quarter earned $219K in returns
• Overall cash is enough to meet operational needs
for next 6 months in fiscal year
FISCAL RESILIENCE
EVALUATION
The indicators below are excerpts from the full evaluation. All indicators are green except for the two below which are continued known items for the water and sewer fund. The staff are moving forward with a rate study refresh for both funds and will report back to council during future quarterly evaluations.
CONCLUSION
Fiscal Year was
primarily on track with
Budget with increases
in both overall
Revenues and
Expenditures
compared Prior Year.
Proposed final budget
amendment in general
fund and capital
projects. Requests for
Adjustments outlined in
staff report. City staff will continue
to update the Council
with quarterly financial
reports as well as the
audited financial
reports 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