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ATTACHMENT
1 Monthly
Budget and Investment
Statement
As of
October
3 1
,
20 2
4 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 req uirements 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.
Investment Type
City of Napa
Fiduciary Funds
Grand Total
Cash in Banks
12,251,231
$
3,449,581
$
15,700,812
$
Solid Waste Debt Service Bank Fund
137
$
-
$
137
$
Water Debt Service Bank Fund
373
$
-
$
373
$
Local Agency Investment Fund (LAIF)
48,140,664
$
-
$
48,140,664
$
California Asset Management Program (CAMP) Liquidity Fund 61,427,563
$
-
$
61,427,563
$
California Asset Management Program (CAMP) Operating Fund -
$
U.S. Treasury Bond / Note - Original Cost
91,867,349
$
-
$
91,867,349
$
U.S. Treasury Bill - Original Cost
-
$
-
$
Municipal Bond/ Note - Original Cost
1,736,986
$
-
$
1,736,986
$
Supra-National Agency Bond / Note - Original Cost
-
$
-
$
Fed Agency Commercial Mortgage-Backed Security - Orig. Cost 31,335,733
$
-
$
31,335,733
$
Federal Agency Bond / Note - Original Cost
-
$
-
$
Corporate Note - Original Cost
41,647,767
$
-
$
41,647,767
$
Commercial Paper - Original Cost
-
$
-
$
Certificate of Deposit - Original Cost
6,550,000
$
-
$
6,550,000
$
Bank Note - Original Cost
3,144,816
$
-
$
3,144,816
$
Asset-Backed Security - Original Cost
29,814,442
$
-
$
29,814,442
$
Joint Powers Authority - Original Cost
389,592
$
-
$
389,592
$
Unsettled Trades
3,195,498
$
-
$
3,195,498
$
TOTAL City of Napa Cash and Invested Funds
331,502,151
$
3,449,581
$
334,951,732
$
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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
Fund Type
City of Napa
Fiduciary Funds
Grand Total
General Fund
19,568,728
$
-
$
19,568,728
$
American Rescue Plan Act
8,788,630
$
-
$
8,788,630
$
Special Revenue Funds
64,149,690
$
-
$
64,149,690
$
CIP Funds
79,221,334
$
-
$
79,221,334
$
Enterprise Funds
98,334,598
$
-
$
98,334,598
$
Internal Service Funds
53,105,696
$
-
$
53,105,696
$
Housing Funds
8,333,475
$
-
$
8,333,475
$
Payroll Clearing Account
-
$
1,219,149
$
1,219,149
$
Gasser CFD Funds
-
$
2,230,432
$
2,230,432
$
TOTAL City of Napa Cash and Invested Funds
331,502,151
$
3,449,581
$
334,951,732
$
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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 20
2 4
/2
5 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 2024/25
Budget
FY 2024/25 YTD
Actual
as of 10/31/2024
as of 10/31/2024
General Fund
Revenues
130,490,923
17,234,747
13.21%
Expenditures
131,990,897
35,681,863
27.03%
Net Position
(1,499,974)
(18,447,116)
Non-Recurring General Fund
Revenues
5,441,831
4,257,826
78.24%
Expenditures
10,007,564
922,620
9.22%
Net Position
(4,565,732)
3,335,207
American Rescue Plan Act
Revenues
8,412,968
-
0.00%
Expenditures
8,492,968
807,458
9.51%
Net Position
(80,000)
(807,458)
Special Revenue Funds
Revenues
24,456,880
5,814,548
23.77%
Expenditures
35,450,610
4,707,180
13.28%
Net Position
(10,993,730)
1,107,368
Capital Project Funds
Revenues
30,457,965
32,100
0.11%
Expenditures
32,740,874
5,779,039
17.65%
Net Position
(2,282,909)
(5,746,939)
Materials Diversion Fund
Revenues
45,952,350
15,630,734
34.02%
Expenditures
51,868,423
14,257,108
27.49%
Net Position
(5,916,073)
1,373,626
Water Enterprise Fund
Revenues
56,929,092
13,571,319
23.84%
Expenditures
82,003,352
10,151,286
12.38%
Net Position
(25,074,259)
3,420,033
Internal Service Funds
Revenues
23,585,230
6,609,063
28.02%
Expenditures
33,268,862
9,501,811
28.56%
Net Position
(9,683,632)
(2,892,749)
Housing Authority Fund
Revenues
27,314,441
8,016,609
29.35%
Expenditures
28,734,221
7,853,865
27.33%
Net Position
(1,419,780)
162,744
Gasser CFD Fund
Revenues
-
21,272
0.00%
Expenditures
1,147,190
814,966
71.04%
Net Position
(1,147,190)
(793,694)
Pooled Cash
Revenues
-
2,035,284
0.00%
Expenditures
-
29,669
0.00%
Net Position
-
2,005,615
ALL FUNDS
Revenues
353,041,681
73,223,501
20.74%
Expenditures
415,704,960
90,506,864
21.77%
Net Position
(62,663,280)
(17,283,363)
% to date
(Budget to
Actual)