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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF SEPTEMBER 2, 1997 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: LEN WOOD, INTERIM CITY MANAGER <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR <br />SUBJECT: JULY 1997 FINANCIAL ACTIVITY REPORT <br />DATE: AUGUST 25, 1997 <br />DISCUSS ION/ANALYIS <br />Attached are preliminary revenue and expenditure recap reports for the month Of July 1997. <br />The City's financial activity through the end of July 1997 (actual revenues and expenditures) should be 8.3% of the fiscal <br />year budgeted totals. Currently, the reports show the General Fund expenditures being 10.1% (including encumbrances) <br />and 3.2% of estimated revenues. Excluding encumbrances the expenditures are 6.3% of budget appropriations. Overall <br />the total City expenditures are 6.6% and revenues are 5.8%. <br />According to Governmental Accounting Standards, a portion of revenue received in July 1997 was accrued back to June <br />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 />July 1997. <br />RECOMMENDATION: <br />Receive and file the July 1997 Financial Activity Report. <br />Prepared by: Dilu de Alwis <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />Item # 7 <br />