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0 DATE: September 16, 2024
TO: Mayor and Members of the City Council
President and Members of the Estero Municipal Improvement District (EMID) Board of Directors
VIA: Stefan Chatwin, City/District Manager
FROM: Waqas Hassan, Assistant Finance Director
DEPARTMENT: Finance
SUBJECT: FOSTER CITY FOUNDATION FUND ANNUAL REPORT OF
FINANCIAL ACTIVITIES FOR FISCAL YEAR 2023-24
RECOMMENDATION
It is recommended the City Council/EMID Board of Directors (City Council), by Minute Order, receive and accept the Foster City Foundation Fund's annual report of financial activities for Fiscal Year 2023-24.
EXECUTIVE SUMMARY AND ANALYSIS
From time to time, the City/District receives donations/sponsorships from individuals or organizations. Such monies are held in the Foster City Foundation Fund. As stipulated in the City’s Donation Policy, the Finance Department shall issue an annual report summarizing the financial activities of the Foster City Foundation Fund. As a result, the financial activities of the Foster City Foundation Fund for Fiscal Year 2023-24 is provided in Attachment 1 and summarized below.
Total Receipts: $41,260.79
Total Disbursements, including credit card fees: $66,235.90 California Environmental Quality Act
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0 Not Applicable
FISCAL IMPACT
There is no fiscal impact on the City Council's receipt and acceptance of this report.
CITY COUNCIL VISION, MISSION, AND VALUE/PRIORITY AREA
Staff Empowerment and Operational Excellence
ATTACHMENTS:
Attachment 1 - Summary of Foster City Foundation Fund (as of June 30, 2024)