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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF APRIL 1, 1997 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: MALIK D. FREEMAN, CITY MANAGERI::��'Vk� <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR���� <br />SUBJECT: FEBRUARY, 1997 FINANCIAL ACTIVITY REPORT <br />DATE: MARCH 24,1996 <br />DISCUSSION/ANALYIS <br />Attached are revenue and expenditure recap reports for the month of February, 1997. The "ADJUSTED APPROP." <br />Column includes the prior year (1995-96) encumbrances carried forward into the 1996-97 fiscal year. <br />The City's financial activity through the end of February, 1997 (actual revenues and expenditures) should be 66.7% of <br />the fiscal year budgeted totals. Currently, the reports show the General Fund expenditures being 68.4% (including <br />encumbrances) and 59.4% of estimated revenues. Excluding encumbrances our expenditures are 59.4% of budget <br />appropriations. Overall the total City expenditures are 68.5% and revenues are 84.6% <br />According to the Governmental Accounting Standards, revenue and accounts payable accruals are necessary at the end <br />of each fiscal year (June 30). Some of the revenue received in July and August were accrued as a revenue in June, <br />1996. Therefore, the percent of revenue received, especially for the general fund, represents about seven months of <br />receipts even though we are reporting the eighth 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 />February, 1997. <br />RECOMMENDATION: <br />Receive and file the February 1997 Financial Activity Report. <br />Prepared by: Dilu de AWis <br />Attachments : 4 Recap Reports (spreadsheets) <br />3 Graphs <br />Item No. 9 <br />