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R�GULAR P�IEETING OF THE ORONO COUNCIL, JUNE 15, 1978 Page 61�
<br /> Dick Benson, City Administrator, presented the GENERAL FUND STATUS
<br /> City Council with a memo from Tom Kuehn, Finance
<br /> Director, dated -rlay 19, 1978, which states:
<br /> For the first quarter of 1978, the General Fund
<br /> has expended 22� of its budget and has received
<br /> 12$ of its projected revenues. For the same
<br /> period of 1977, the expenditures were 25� of
<br /> the budget and the receipts were 15�_
<br /> From January 1, 1978, through March 31, 1978 ,
<br /> there was a net decrease in the working capital
<br /> (cash and investments) of $93,045.19. This is
<br /> a normal occurrence at this time of the year
<br /> due to the fact that we will not receive the
<br /> first half tax settlement until July.. Overall
<br /> there is still a $96,439. 71 increase in working
<br /> capital when comparing March 31, 1978 to
<br /> March 31, 1977. This is due pri.marily to the
<br /> improved status at January l, 1978, when the
<br /> working capital was $106,991. 58 over January 1,
<br /> 1977.
<br /> Dick Benson, City Administrator, presented the LI�UOR STORE REPORT
<br /> City Council with a memo from Tom Kuehn, Finance
<br /> Director, dated I'day 18, 1978, which states :
<br /> Attached is a set of statements for the Liquor
<br /> Store operation comparing the status as of
<br /> March 31, 1978 to P�iarch 31, 1977.
<br /> The following schedule is a condensed income
<br /> statement for the respective first quarter:
<br /> 1978 Over
<br /> 1978 1977 (Under) 1977 �
<br /> Net Sales . $ 74,439 $ 68, 119 $ 6, 320
<br /> Cost of Goods Sold 52,439 49,414 3, 025
<br /> Gross Profit $ 22,000 $ 18, 705 $ 3, 295
<br /> Operating Expenses 19,669 16,831 2, 838
<br /> Net Income Before Other Income $ 2,331 $ 1, 874 $ 457
<br /> Insurance �cpense Adj. $ -0- $ (622) $ (622)
<br /> (See DTote)
<br /> Net Income Before Other Income $ 2,331 $ 1, 252 $ 1,079
<br /> (Restated)
<br /> (Continued)
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