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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF JANUARY 13,1998 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: LEN INOOD, INTERIM CITY MANAGER <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR <br />SUBJECT: NOVEMBER 1997 FINANCIAL ACTIVITY REPORT <br />DATE: DECEMBER 23,1997 <br />DISCUSSION/ANALYIS <br />Attached are revenue and expenditure recap reports for the month of.November 1997. <br />The City's financial activity through the end of November 1997 (actual revenues and expenditures) should be 41.7% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 42.0% (including <br />encumbrances) and 30.0% of estimated revenues. Excluding encumbrances the expenditures are 35.8% of budget <br />appropriations. Overall the total City expenditures are 37.3% and revenues are 30.4%. <br />According to Governmental Accounting Standards, a portion of revenue received in July and August 1997 were accrued <br />back to June 1997. Therefbre, the percent of revenue received, especially for the general fund, represents approximately <br />four months of receipts even though we are reporting for the fifth 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 />November 1997 <br />RECOMMENDATION: <br />Receive and file the November 1997 Financial Activity Report. <br />Prepared by: Dilu de Atwis <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />B=# 20 <br />