1996 AGN OCT 01 I04 - Laserfiche WebLink

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TO: HONORABLE MAYOR AND CITY COUNCIL APPROVAL. MALiK 0, FREEMAN, INTERIM CITY MANAG FROM! ANNA A. VEGA, FINANCE DIRECTORAV SUBJECT: AUGUST, 1996 FINANCIAL ACTIVITY REPOI DATE: SEPTEMBER 24,1996 Attached are revenue and expenditure recap reports for the rni new Financial software.) The'ADJUSTED APPROP-" Colunir forward into the 1996-97 fisc@1 year. The City's financial activity through the end of AUqUSt, 19Cf6 (a fiscal year budgeted totals. Currently, the reports show t encumbrances) and 9.B% of estimated revenues. Excludin� appropriations. Overall the total City expenditures are 12,3% ar According to the Governmental Accountinq Standards, revenue of each fiscal year (June 30)� Therefore, some of tile revenue r� Therefore, the perren It of revenue receivert, especially for the 91 though, we are in the second month of the fiscal year. Additior fund and prWrty tax increment for the redevelopment agency � of this bi-annual receipt of property taxes, tile revenues are refle Attached are graphs representing the cornriarisons for the morilt fL1LCQMMEND&LjQ1�; Staff recomm ends that tile City Council receive and fite the Fine; -ITOSER 1, 1996 ith of August 1996. (These reports are generated by our includes the prior year (1995-96) encumbrances carried tuai'revenupes and expenditures) should be 16.7%o of 1he e General Fund expenditures being 18.1% (including encurnofances our i�.xpendftures are 112% of budget revenues are 11,2% and �iccounts payalale accruals are necessary at the end �eived in July was accrued as a revenue in June, 1996. ieral fund, represents about one r-nonth of receiepts evPn illy, the first inslatment of property taxes or the general ,e not received until November and December, Because teal lower than p, ojecled, of August� 1995 and August 199% ,lal Activity Report, ITEM 4