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r <br />REQUEST 70R COUHCZL ACTION <br />APR ? 4 1995 <br />C!TY OF ORONO <br />DATE: April 21, 1995 <br />ITEM NO: <br />/ <br />D«partB«Bt Approval: <br />Maao: Chris Miller <br />Title: Asst. Finance Dir. <br />Adainistrator Revievea:Agenda Section: <br />Consent <br />Ztea Description: <br />1995 First Quarter Revenue and Expenditure Report <br />The following report summarizes the 1995 revenues <br />expenditures for the first quarter ending March 31, 1995. <br />jf^iimmary of Revenues <br />The first quarter revenues in the General Fund total $319,070. <br />This represents approximately 10% of the expected revenues <br />the calendar year of 1995. The revenues are at expected levels, <br />and along with beginning fund balances, have adequately funded <br />first quarter expenditures. Property tax revenues have not been <br />recognized during the first quarter. The City expects to receive <br />one half of its property tax share in July. <br />Summary of Expenditures <br />The first quarter expenditures in the General Fund total <br />$762,644. This represents approximately 24% of the expected <br />expenditures for the calendar year of 1995. The expenditures <br />paid are generally at expected levels, with a few exceptions <br />being noted in the summary document. All General Fund <br />expenditures have been adequately funded by first quarter <br />revenues and beginning fund balances. The first quarter <br />expenditures in all other City Funds are at expected levels and <br />have been adequately funded. <br />Council Action Requested <br />Information purposes only, no Council action required.