ATTACHMENT 1
Monthly Budget and Investment Statement
As of May 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.
ATTACHMENT 1
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.
Rajneil Prasad, Finance Director
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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 BudgetFY 2023/24 YTD Actualas of 05/31/2024 as of 05/31/2024General FundRevenues 124,718,873 102,465,324 82.16%Expenditures 131,541,165 105,341,121 80.08%Net Position (6,822,292) (2,875,797) Non-Recurring General FundRevenues 6,839,630 5,583,066 81.63%Expenditures 14,624,259 4,390,298 30.02%Net Position (7,784,629) 1,192,767 American Rescue Plan ActRevenues 12,113,024 (27,954) -0.23%Expenditures 11,636,411 350,908 3.02%Net Position 476,613 (378,862) Special Revenue FundsRevenues 40,067,690 34,269,079 85.53%Expenditures 45,926,459 20,076,075 43.71%Net Position (5,858,769) 14,193,005 Capital Project FundsRevenues 46,568,047 18,979,370 40.76%Expenditures 95,894,080 21,510,924 22.43%Net Position (49,326,033) (2,531,554) Materials Diversion FundRevenues 44,135,000 40,707,745 92.23%Expenditures 50,419,798 42,940,198 85.17%Net Position (6,284,798) (2,232,453) Water Enterprise FundRevenues 59,965,160 35,090,833 58.52%Expenditures 80,505,126 33,996,633 42.23%Net Position (20,539,966) 1,094,200 Internal Service FundsRevenues 25,014,123 18,779,546 75.08%Expenditures 32,520,487 17,572,192 54.03%Net Position (7,506,364) 1,207,355 Housing Authority FundRevenues 27,051,370 21,051,898 77.82%Expenditures 29,190,687 21,001,641 71.95%Net Position (2,139,317) 50,256 Gasser CFD FundRevenues - 1,206,581 0.00%Expenditures 1,147,440 1,157,955 100.92%Net Position (1,147,440) 48,627 Pooled CashRevenues - 592 0.00%Expenditures - - 0.00%Net Position - 592 ALL FUNDSRevenues 386,472,916 278,106,081 71.96%Expenditures 493,405,911 268,337,944 54.38%Net Position (106,932,995) 9,768,137 % to date (Budget to Actual)