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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF DECEMBER 2,1997 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: LEN WOOD, INTERIM CITY MANAGER "' <br />le� <br />FROM: ANNA A. VEGA, FINANCE DIRECTORQ,_"--, <br />SUBJECT: OCTOBER 1997 FINANCIAL ACTIVITY REPORT <br />DATE: NOVEMBER 19,1997 <br />DISCUSSIONIANALYIS <br />Attached are revenue and expenditure recap reports for the month of October 1997. <br />The City's financial activity through the end of October 1997 (actual revenues and expenditures) should be 33.3% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 35.3% (including <br />encumbrances) and 21.70/0 of estimated revenues. Excluding encumbrances the expenditures are 28.6% of budget <br />appropriations. Overall the total City expenditures are 29.5% and revenues are 23.8%. <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 />three months of receipts even though we are reporting for the fourth 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 />October 1997 <br />RECOMMENDATION: <br />Receive and file the Octoberl 997 Financial Activity Report. <br />Prepared by: Dilu de Alwis <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />