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CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF AUGUST 6,1996 <br />Honorable Mayor & City Council <br />Malik Freeman, Interim City Manager <br />Anna A Vega, Finance Director )� _P711 l' <br />Subject: Financial Activity Report <br />Date: July 24, 1996 <br />Attached is a copy of the 1995-96 Financial Activity Report, a Revenue Summary, and an <br />Expenditure/Encumbrance Summary. The summary reports reflect preliminary actual <br />versus budget year-to-date figures through June 30, 1996. <br />Through the end of June, actual revenues and expenditures should be at 100% of the fiscal <br />year budgeted totals. Currently the reports show General Fund expenditures at 93% <br />(including encumbrances) and revenues received at 95% of the estimated budget. <br />These figures are preliminary since year end accruals and adjustments are still in progress, <br />and the closing process is not yet complete. The figures will become final after the <br />completion of the 1995-96 annual audit. <br />A schedule of cash and investments is also included, which reflects actual balances as of <br />June 30, 1996. <br />Recommendation: <br />Staff recommends that the City Council receive and file the Financial Activity Reports. <br />Prepared by Thomas Steele <br />ITEM NO. 26 <br />