ATTACHMENT 1
CITY OF
NAPA
Monthly Budget and Investment Statement
As of March 31, 2024
This Budget and Investment Statement summarizes the budget status and investments of all City funds, including General Fund, Enterprise Funds, Capital Project Funds and Special Revenue Funds, as of the date identified above. This Statement fulfills the requirements of Napa Municipal Code section 2.32.050 by providing budget status information, and the requirements of City Charter Section 58 by providing current cash totals.
The City of Napa column below represents the City's pooled cash, while the Fiduciary Funds column includes Successor Agency bond proceeds and reserves and payroll disbursements passing through the payroll clearing account. The first table shows the total cash and investments by type of investment, while the second table breaks out the information by City Fund.
City of Napa Fiduciary Funds Grand Total
Type of Investment as of 03/31/2024 as of 03/31/2024 as of 03/31/2024 Cash in Bank and on Hand 18,811,800 (2,136,397) 16,675,403 Cash Proceeds from MDF Bond Issuance, received Nov 2016 Cash Proceeds from Water Bond Issuance, received Feb 2016 161 161 Local Agency Investment Fund (LAIF) 47,631,731 47,631,731 CAMP Pool 55,060,931 55,060,931
U.S. Treasury Bond / Note 71,582,009 71,582,009
U.S. Treasury Bill
Supra-National Agency Bond / Note 1,182,713 1,182,713
Municipal Bond / Note 6,629,655 6,629,655
Federal Agency Commercial Mortgage-Backed Security 34,304,383 34,304,383 Federal Agency Bond / Note 1,753,427 1,753,427
Corporate Note 49,343,324 49,343,324
Commercial Paper ......
Bank Note 2,304,816 2,304.816
Certificate of Deposit 6,550,000 6,550,000
Asset-Backed Security 29,422,971
Joint Powers Authority 3.733,712 3.733,712
TOTAL City of Napa Cash and Invested Funds 328,311,765 (2,136,397) 326,175,368
ATTACHMENT 1
City of Napa Fiduciary Funds Grand Total
Fund as of 03/31/2024 as of 03/31/2024 as of 03/31/2024 General Fund 39,474,096 39,474,096
American Rescue Plan Act 12,349,481 12,349,481
Special Revenue Funds 67,393,443 67,393,443
CIP Funds 65,729,518 65,729,518
Enterprise Funds 91,687,451 91,687,451
Internal Service Funds 46,151,716 46,151,716
Gasser CFD Funds 2,046,377 2,046,377
Successor Agency Funds 5,526,060
Housing Funds 5,526,060
Payroll Clearing Account - (4,182,774) (4,182,774)
TOTAL City of Napa Cash and Invested Funds 328,311,765 (2,136,397) 326,175,368 I hereby certify that the investments summarized in this Statement comply with the City's adopted Statement of Investment Policy and City Charter Section 58, and that sufficient funds are available to meet expenditure requirements for the next six months. Bond funds are in compliance with their respective bond indentures, which may have different provisions than the City's Investment Policy. More detailed information summarized in this Statement is available for review upon request.
Rath
Rajneil Prasad, Finance Director
ATTACHMENT 1
The table below provides the budget status for the City's funds, grouped by major fund, or major fund category, as of the date identified above and includes several Net Positions of less than zero.
Budgets with a negative Net Position will use fund balance to make up the difference. This use of available fund balance to balance the budget has been approved by City Council with the adoption of the FY 2023/24 budget. Negative Year-to-Date (YTD) Actual Net Position amounts are to be expected, given that both revenue collections and expenditure incurrences fluctuate throughout the year.
FY 2023/24 FY 2023/24 TD % to date
Budget Actual (Budget to
as of 03/31/2024 as of 03/31/2024 Actual)
General Fund
Revenues 124,666,843 74,878,896 60.06%
Expenditures 131,548,945 81,652,480 62.07%
Net Position (6,882, 102) (6.773.584)
Non-Recurring General Fund
Revenues 3,809,919 4,251,078 111.58%
Expenditures 12,289,796 2,477,997 20.16%
Net Position (8,479,878) 1.773.081
Special Revenue Funds
Revenues 39,932,120 27,022,499 67.67%
Expenditures 45,302,530 14,638,065 32.31%
Net Position (5,370,410) 12,384,434
Capital Project Funds
Revenues 44.963,027 15,258,230 33.94%
Expenditures 93,880,452 17,086,024 18.20%
Net Position (48,917,426) (1,827, 794)
Materials Diversion Fund
Revenues 44,135,000 29,514,764 66.87%
Expenditures 50,419,933 36,305,741 72.01%
Net Position (6,284,933) (6,790,977)
Water Enterprise Fund
Revenues 59,965,160 27,069,709 45.14%
Expenditures 80,505,126 24,686,566 30.66%
Net Position (20,539.966) 2.383.143
Internal Service Funds
Revenues 25,013,123 13,657,600 54.60%
Expenditures 40,349,312 14,313,733 35.47%
Net Position (15.336, 189) (656,133)
Housing Authority Fund
Revenues 26,767,796 14,987,635 55.99%
Expenditures 29,295,606 16,068,718 54.85%
Net Position (2,527,811) (1.081,083)
ALL FUNDS
Revenues 369,252,987 206,640,411 55.96%
Expenditures 483,591,700 207,229,324 42.85%
Net Position (114,338,713) (588,913)