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Finance Department
Finance Department

Financial Reports

Disclaimer: No information on the City’s website is intended to be the basis of or should be relied upon in making an investment decision.  The information on this website is not posted for the purpose of reaching the investing public, including bondholders, rating analysts, investment advisors, or any other members of the investment community. Because each security issued by the City or its related entities may involve different sources of payment and security, you should refer for additional information to the official statement and continuing disclosure filings for the particular security, which can be found on the Municipal Security Rulemaking Board’s Electronic Municipal Market Access website: https://emma.msrb.org.

Comprehensive Annual Financial Report (CAFR)

The Finance Department is responsible for the fair presentation of the financial statements of the City of Berkeley, and for the preparation of the Comprehensive Annual Financial Report (CAFR). The CAFR includes the City’s financial position and results of operations. It also contains demographic and statistical information to help the reader understand the financial condition of the City for each fiscal year. The current CAFR is for the City’s 2018 fiscal year, which ended June 30, 2018.   

Investment Program

Pursuant to Sections 2.44.040 and 2.44.060 of the Berkeley Municipal Code, Resolution No.45,087-N.S., and Sections 53601, 53607, 53636 and 53648 of the State Government Code, the Director of Finance, the Treasurer of the City, is authorized to make investments of the City’s idle funds. The Code also directs the City to present an annual investment policy to the City Council for approval. This Investment Policy, after approval of the amendments by the City Council, will serve as the Investment Policy for the City of Berkeley for fiscal year 2019.

Investment Policy

It is the policy of the City to invest public funds in a manner that will provide maximum security, adequate liquidity and sufficient yield, while meeting the daily cash flow demands of the City and conforming to all statutes and regulations governing the investment of public funds. 

Debt Management and Disclosure Policy

The purpose of the Policy is to provide a functional tool for debt management and capital planning, as well as to enhance the Cities ability to manage its debt obligations and lease financings in a conservative and prudent manner.  

General Fund Reserve Policy

The General Fund is the City’s primary operating fund. It is not connected to any one revenue source and may be used at the Council’s discretion. The General Fund is the operation fund that pays for general services provided by the City as well as public safety and capital improvements. The General Fund accounts for all general revenues and expenditures of the City related to the delivery of the City’s general services not specifically collected or levied for other City funds. The City must maintain an adequate General Fund Reserve (Reserves) to prepare for the impact of economic cycles and catastrophic events and ensure that fluctuations in revenue do not impede the City’s ability to meet expenditure obligations.   

 

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Finance Department, 1947 Center Street, Berkeley, CA 94704
Questions or comments? Email: finance@cityofberkeley.info Phone: (510) 981-7200
(510) 981-CITY/2489 or 311 from any landline in Berkeley
TTY: (510) 981-6903
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