DATE: August 27, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
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Final Report of Fiscal Year 2014-2015 Financial Results
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the financial results for Fiscal Year 2015-2016.
Background
City staff has continued to post revenues and transactions that were executed in June, billed in July and received in August. With these transactions fully reflected in the general ledger accounts, results for the fiscal year ending June 30 are now available. It is necessary to keep in mind that these are unaudited numbers, unofficial and subject to change. However, in order to keep the Finance Committee, the Board of Mayor and Aldermen, and the citizens of Franklin informed on the financial status of the City, staff attempts to make the results available at the earliest possible date.
Staff is confident that the numbers presented in the attached report give an accurate picture of the City’s position at fiscal yearend. Staff does not anticipate any material changes.
Financial Impact
Report only. No financial impact.
Recommendation
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No recommendation. Report only.