City of Scottsdale to publish year-to-date financial report

The city of Scottsdale has published its Fiscal Year 2016-17 Monthly Financial Report as of July 2016 and is seeking the city council’s approval and acceptance of the report at its Monday, Oct. 10 city council meeting.

This report is part of the city’s initiative to publish a financial summary for the General Fund each month that outlines the city’s year-to-date expenditures, according to a staff proposal.

According to the proposal, the report features a summary of revenues and expenditures by major categories while also highlighting significant variances.

Additionally, quarterly reports include more information including the transportation fund, tourism development fund, enterprise fund, fleet fund, risk fund, benefits self-insurance fund and statement of operations for WestWorld.

However, this monthly report included a summary of the city’s sources for money and what it uses it on the most. According to the report, most of the city’s revenue comes from local taxes, followed by state shared revenues.

Furthermore, the report breaks down where exactly the money comes from inside of local taxes and the other categories of revenue.

As far as what the city spends its money on, the report states the city spends a large chunk of its money on personnel services, followed by contractual services.

Much like the breakdown of the city’s revenue, the report shows a specific breakdown of what exactly the city spends in each category, such as the majority of the city’s spending in personnel services falls under salaries.

Additionally, the report also compares spending and revenue to that of previous years.

Go to scottsdaleaz.gov/Asset67553.aspx for more information.

News Services Reporter Josh Martinez can be contacted at jmartinez@newszap.com or at 623-445-2738

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