In FY 2017-18, the Finance Department began providing monthly financial reports to City departments as an important tool to assist them in managing their current budgets. The two monthly reports provided will be for revenues and expenditures. Both reports contain an overall summary along with detailed information attached to it. These monthly financial reports will provide current fiscal year and prior fiscal year budgeted amounts, actual revenues and expenditures, and the variances between budgeted and actual amounts. Variances reported will allow City departments to make adjustments to their budgets in a more timely fashion. These monthly reports can also identify emerging issues and provide important trend data for the development of upcoming budgets.