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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF OCTOBER 7, 1997 <br />TO: <br />HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: <br />11 <br />LEN WOOD, INTERIM CITY MANAGER LJ <br />FROM: <br />ANNA A. VEGA, FINANCE DIRECTOR C�-�� <br />SUBJECT: <br />AUGUST 1997 FINANCIAL ACTIVITY REPORT <br />DATE: <br />SEPTEMBER 22, 1997 <br />DISCUSS ION/ANALYIS <br />Attached are revenue and expenditure recap reports for the month of August 1997. <br />The City's financial activity through the end of August 1997 (actual revenues and expenditures) should be 16.7% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 21.2% (including <br />encumbrances) and 6.9% of estimated revenues. Excluding encumbrances the expenditures are 13.6% of budget <br />appropriations. Overall the total City expenditures are 17.1% and revenues are 10.4%. <br />According to Governmental Accounting Standards, a portion of revenue received in August 1997 was accrued back to <br />June 1997. Due to this accrual method the actual revenue reported is lower than projected. <br />Additionally, we have attached graphs representing the comparisons year to date (YTD) and actuals for the month of <br />August 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 # 10 <br />