Consent Item 3e
STAFF REPORT
Consent Agenda Item
DATE: April 21, 2025
TO: Honorable Mayor and Council Members
FROM: Aaron Felmlee, Finance Director
THROUGH: Amy Nilsen, City Manager
SUBJECT: Finance Department Monthly Report for March 2025 STAFF RECOMMENDATION:
Receive report as an informational item.
EXECUTIVE SUMMARY:
EMMA Annual Bond Disclosure Reports:
Each year the City is required 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 1, 2025 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 May 1 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
• Recreation Program Supervisor Position
• Transit Trips to Eureka for Seniors
Consent Item 3e
• PT Code Compliance Officer Position
• K-9 Program
• Encampment Outreach and Cleanup Services
• Storm Drain Maintenance Projects
• Street Maintenance Projects
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 2025