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REQUEST FOR COUNCIL ACTION <br />G0UNCILMEETIN6 <br />OCT 2 3 1995 <br />CfTY 0? OROWO <br />DATE; Oct 23, 1995 <br />ITExMNO; <br />Department Approval: <br />Ni*ne; Chris Miller <br />Title: Asst. Finance Dir. <br />Administrator Reviewed:Agenda Section: <br />Consent <br />Item Description: <br />1995 Third Quarter Revenue and Expenditure Report <br />The following report sumnr .-izes the 1995 revenues and expenditures for the third quarter ending <br />September 30, 1995. <br />Summary of Revenues <br />The General Fund revenues for the quarter ending September 30, 1995 total S2,l 13,078. This <br />represents approximately 65% of the projected revenues ‘or the calendar year of 1995. The <br />revenues are somewhat higher than expected due to higher interest earnings, a mid-year increase <br />in permit and plan review fees, and a significant increase in the level of contractual inspection and <br />plan review services provided to surrounding communities The revenues received, along with <br />beginning fund balances, have adequately funded expenditures through the third quarter. The City <br />received one half of its property tax share in July, and expects to receive the final portion in <br />December. <br />Summary of Expenditures <br />The General Fund e.xpenditures for the quarter ending September 30, 1995 total $2,191,995. <br />This represents approximately 67 5% of the projected expenditures for the calendar year of 1995 <br />The expenditures paid are generally at expected levels, with a few exceptions being noted in the <br />Combined Fund Expenditure Repon. All General Fund expenditures have been adequately <br />funded by revenues and beginning fund balances Expenditures in all other City Funds are at <br />expected levels and have been adequately funded. <br />Council Action Requested <br />Information purposes only, no Council action required.