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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF NOVEMBER 4, 1997 <br />TO: <br />HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: <br />LEN WOOD, INTERIM CITY MANAGER 51 <br />FROM: <br />ANNA A. VEGA, FINANCE DIRECTOR gz,._ <br />SUBJECT: <br />SEPTEMBER 1997 FINANCIAL ACTIVITY REPORT <br />DATE: <br />OCTOBER 23, 1997 <br />DISCUSSION/ANALYIS <br />Attached are revenue and expenditure recap reports for the month of September 1997. <br />The City's financial activity through the end of September 1997 (actual revenues and expenditures) should be 25.0% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 28.3% (including <br />encumbrances) and 13.4% of estimated revenues. Excluding encumbrances the expenditures are 20.9% of budget <br />appropriations. Overall the total City expenditures are 22.7% and revenues are 17.4%. <br />According to Governmental Accounting Standards, a portion of revenue received in July and August 1997 were accrued <br />back to June 1997. Therefore, the percent of revenue received, especially for the general fund, represents approximately <br />two months of receipts even though we are reporting for the third 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 />September 1997. <br />RECOMMENDATION: <br />Receive and file the August 1997 Financial Activity Report. <br />Prepared by: Dilu de Alwis <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />Item # 11 <br />