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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF SEPTEMBER 17, 1996 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: MALIK D. FREEMAN, INTERIM CITY MANAGER <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR <br />SUBJECT: MAYOR FULP'S REQUEST, STATUS ON THE FINAL CLOSING OF THE <br />SANITATION ENTERPRISE BOOKS AND DISPOSITION OF $2.8 MILLION <br />RECEIVED FROM TAORMINA INDUSTRIES. (WHAT AMOUNT IS LEFT AND <br />WHERE IS IT?) <br />DATE: SEPTEMBER 11, 1996 <br />Attached is a copy of an interoffice memorandum submitted to the City Manager <br />on July 12, 1996 regarding the sanitation enterprise purchase. The information <br />regarding the Taormina funds has not changed since the memorandum date. <br />Finance Staff has receipted the $2.8 Million in the Sanitation Enterprise fund. <br />Staff anticipates that as soon as the August 31, 1996 financial reports are <br />f prepared, 99% of the Sanitation transactions will be completed and adjusted in <br />September, 1996. <br />A report on the balance of the $2.8 million and all other transactions closing the <br />Sanitation Enterprise fund can be provided to the City Council on the second <br />meeting in October, 1996. <br />Attachments: Interoffice Memorandum 7/12/96 ITEM NO. 18 <br />