AGENDA TITLE:
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Receive and File Treasurer's Report and Register of Claims (IS - FIN)
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MEETING DATE:
February 18, 2026
PREPARED BY:
Chia Lor, Accounting Manager
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RECOMMENDED ACTION:
Receive and File Treasurer's Report and Register of Claims.
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BACKGROUND INFORMATION:
The Treasurer's Report (Attachment 1) summarizes the revenue and expenditure activity through December 31, 2025. Due to staff transition within the Finance Division, the Treasurer's Report has not been filed since September 4, 2024, for the period ending July 31, 2024. With key position now filled, the Finance Division is resuming the monthly reporting beginning in Fiscal Year 2026.
This report presents financial activities for the first half of current fiscal year covering July 1, 2025 through December 31, 2025. It includes year-to-date actuals compared to the adopted budget, as well as a comparison to the prior year actuals for the same period. Monthly financial reports are prepared on a cash basis, meaning revenues are recorded when received and expenditures when paid. Accruals are only recorded at fiscal year end, in accordance with accounting standards. Because revenue and expenditure activity do not occur evenly throughout the year, fluctuations in monthly totals are expected and do not necessarily reflect unusual trends.
Attachment 2 includes the Register of Claims totaling $156,510,180 for the period of July 1, 2025 through December 31, 2025. Of this amount, $124,249,818 was paid through Accounts Payable and $32,260,362 through Payroll. All transactions reflected in the register are consistent with the adopted Fiscal Year 2025-26 budget and any amendments approved by City Council.
Interpreting the monthly financial information requires an understanding of the City's cash flow patterns. While regular operating expenditures tend to occur consistently, the timing of major revenues, such as property taxes and sales tax, and capital project expendi...
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