Consent Item 4e
STAFF REPORT
City Council Consent Item
DATE: April 15, 2024
TO: Honorable Mayor and Council Members
FROM: Aaron Felmlee, Finance Director
THROUGH: Merritt Perry, City Manager
SUBJECT: Finance Department Monthly Report
STAFF RECOMMENDATION:
Receive report as an informational item.
EXECUTIVE SUMMARY:
EMMA Annual Bond Disclosure Reports:
The City is required each year to post and make public on the Municipal Securities Rulemaking Boards (MSRB) Electronic Municipal Market Access (EMMA) website data related to each of the City’s outstanding Bond Series. Currently the City has three outstanding bond series. Those are the 2017 Refunded Water Bonds, 2017 Refunded Wastewater Bonds and the 2018 Successor Agency Tax Allocation Bonds. The data requirements include financial statements, bond information such as debt service schedules and fund balances, operating information, and reporting of any significant events.
The EMMA website was established to increase the transparency of the municipal securities market by providing free public access to municipal securities disclosures and data. EMMA provides investors, state and local governments, and other market participants with key information and tools to put that information into context. Staff is pleased to announce that it has completed the Annual Bond Disclosure Reports and posted all required material and data on the EMMA website before the deadline. For those interested in seeing the report please visit https://emma.msrb.org/Home/Index and search for “City of Fortuna”.
Measure E Update:
The Measure E committee met on April 2, 2023 at 5:30 pm. The primary purpose of this meeting was for the committee to approve a list of recommended projects to be funded by Measure E. The finalized list will be presented to the City Council at a special budget workshop on April 25 by the Measure E committee chair.
List of Measure E items funded this month:
(2) Police Detective Positions
Police Community Services Officer Position
Police Records Clerk Position
Parks and Recreation Director Position
Consent Item 4e
Recreation Program Supervisor Position
Police Officer Over Hire
Transit Trips to Eureka for Seniors
PT Code Compliance Officer Position
K-9 Program
Storm Drain Infrastructure Vulnerability Assessment Project Police Facility Project
An activity log displaying important Finance data is attached for informational purposes.
RECOMMENDED COUNCIL ACTION:
Receive Finance Department Monthly Report. Consent Agenda vote.
ATTACHMENTS:
Finance Staff Activity Log for March 2024