10-27-1997 Council Packet - Laserfiche WebLink

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REQUEST FOR COUNCIL ACTION COUNCIL MEETINGOCT 2 7 1997 CITYOFORONO DATE: Oct 17,1997 ITEM NO: ▼ wmm m —, Department Approval: Name: Chris Miller/^jc^ Title: Asst. FinanceT5irector Administrator Reviewed: Agenda Section: City Administrator's Report Item Description: ^ 1997 3rd Quarter Revenue and Expenditure Report The following report summarizes the revenues and expenditures for the period ending September 30, 1997. The report includes a comparison of current revenues and expenditures to the average funding and spending levels during the past three years (year-to-date budget). The year-to-date (YTD) budget has been adjusted to account for timing differences for revenues and expenditures that are recognized in varying periods as compared to previous years. Summary of Revenues General Fund revenues for the period ending September 30,1997 total $2,307,027. This represents approximately 67% of the projected revenues for the calendar year of 1997. The revenues are at expected levels, and along with beginning fund balances, have adequately funded General Fund expenditures. The City has received one-half of its property tax revenues for 1997. It expects to receive an additional portion in December. Summary of Expenditures General Fund expenditures for the period ending September 30, 1997 total $2,450,067. This represents approximately 71% of the projected expenditures for the calendar ^ ear of 1997. This is comparable to prior year expenditures levels, which have consistently remained near 70% during the same period. A few expencUtures within the General Fund were higher than anticipated as compared to previous years. These exceptions have been noted below, and in the Combined Fund Expenditure Report. All expenditures have been adequately funded by 1997 General Fund revenues and beginning fund balances. I ‘ I I ♦ % Council Action Requested Information purposes only, no Council action required.