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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF JUNE 3, 1998 <br />TO: <br />HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: <br />HENRY GARCIA, CITY MANAGERt_ <br />FROM: <br />ANNA A. VEGA, FINANCE DIRECTO <br />SUBJECT: <br />APRIL 1998 FINANCIAL ACTIVITY REPORT <br />DATE: <br />May 269 1998 <br />DISC USSION/ANALYIS <br />Attached are revenue and expenditure recap reports for the month of April 1998. <br />The City's financial activity through the end of April 1998 (actual -revenues and expenditures) should be 83.0% of the fiscal <br />year budgeted totals. Currently, the reports show the General Fund expenditures being 78.8% (including encumbrances) <br />and 75.4% of estimated revenues. Excluding encumbrances the expenditures are 75.0% of budget appropriations. <br />Overall the total City expenditures are 72.9% and revenues are 73.7%. <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 />eight months of receipts even though we are reporting for 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 1998 <br />RECOM 18NDATIQNc <br />Receive and file the April 1998 Financial Activity Report. <br />Prepared by: Diu de Alwis <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />Item # 15 <br />