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13 <br />City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OFJUNE 3,1997 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: GRACIE FERNANDEZ HARMON, ACTING CITY MANAGER <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR C)—,)-�� <br />SUBJECT: APRIL, 1997 FINANCIAL ACTIVITY REPORT <br />DATE: MAY 22,1997 <br />DISCUSSION/ANALYIS <br />g c L4 0 wy 1: -7 - <br />Ay 2 8 199 <br />OOLT O� <br />Attached are revenue and expenditure recap reports for the month of April, 1997. The "ADJUSTED APPROP." column <br />includes the prior year (1995-96) encumbrances carried forward into the 1996-97 fiscal year. <br />The City's financial activity through the end of April, 1997 (actual revenues and expenditures) should be 83.3% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 81.6% (including <br />encumbrances) and 77.4% of estimated revenues. Excluding encumbrances our expenditures are 78.5% of budget <br />appropriations. Overall the total City expenditures are 79.0% and revenues are 101.1%. <br />According to the Governmental Accounting Standards, revenue and accounts payable accruals are necessary at the end <br />of each fiscal year (June 30). Some of the revenue received in July and August were accrued as a revenue in June, <br />1996. Therefore, the percent of revenue received, especially for the general fund, represents about nine months of <br />receipts even though we are reporting the tenth month of the fiscal year. <br />Additionally, we have attached graphs representing the comparisons year to date (YTD) and actuals for the month of <br />April, 1997. <br />RECOMMENDATION: <br />/)Receive and file the April 1997 Financial Activity Report. <br />�Pvrepared by: Dilu de Alwis <br />Attachments : 4 Recap Reports (spreadsheets) <br />3 Graphs <br />Item No. 6 <br />