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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF DECEMBER 1, 1998 <br />TO: HONORABLE MAYOR AND CITY CC UNCIL <br />APPROVAL: HENRY T. GARCIA, CIN MANAGEFR�� � <br />FROM: DILU DE ALWIS, FINANCE ASSISTANT <br />SUBJECT: OCTOBER 1998 FINANCIAL ACTIVITY REPORT <br />DATE: NOVEMBER 19, 1998 <br />DISCUSSION/ANALYIS <br />Attached are preliminary revenue and expenditure recap reports for the month of October 1998. <br />The City's financial activity through the end of October 1998 (actual revenues and expenditures) should be 33.3% of the <br />fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 31.0% (including <br />encumbrances) and 12.6% of estimated revenues. Excluding encumbrances the expenditures are 25.3% of budget <br />appropriations. Overall the total City expenditures are 43.9% and revenues are 31.3%. <br />According to Governmental Accounting Standards, a portion of revenue received in July and August 1998 was accrued <br />back to June 1998. 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 1998. <br />RECOMMENDATION: <br />Receive and file the October 1998 Financial Activity Report. <br />Attachments: 3 Recap Reports (spreadsheets) <br />3 Graphs <br />Item No. <br />Item No. 14 <br />