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<br />7. Amend the DARE Fund by appropriating an additional <br />$5,300. <br /> <br />8. Amend the Workers' Compensation Fund by appropriating an <br />additional $71,600. <br /> <br />SUMMARY: <br /> <br />Annually staff presents a year end financial repon to the City <br />Council giving the status of the City's funds, and recommending <br />various actions regarding budget carryovers, amendments, reserves, <br />etc. The following report describes the results of the 1993-94 <br />financial year. <br /> <br />Honorable Mayor and Members of the Council: <br /> <br />INTRODUCTION <br /> <br />The purpose of this report is to present the status of all City Funds as of the end of the <br />fiscal year 1993-94, and to analyze any variances between actual revenues and <br />expenditures compared to previous projections for that year. Staff is also recommending <br />Council actions, relating to the appropriation of Fund Balances and the carryover of <br />budgeted items from one fiscal year to the next, which are done each year as the fmal <br />step in closing the books. <br /> <br />OVERVIEW OF FISCAL YEAR 1993-94 <br /> <br />Fiscal year 1993-94 ended with all Operating Funds essentially on target with projections, <br />with the few exceptions discussed in detail below. Generally, revenues were on target <br />with projections, with the exception of the General Fund and Sewer Fund, which <br />exceeded projections. For all Funds, expenditures were below or on target with budget, <br />with the exception of the Sewer Fund, Dare Fund, and Workers' Compensation Fund. <br /> <br />DISCUSSION <br /> <br />Detail by Fund Type <br /> <br />Appendix A lists llIl the City's Funds by fund type. The table shows all the beginning <br />balances as of July I, 1993, and the revenues, expenditures and transfers that resulted in <br /> <br />SR 94:365 <br /> <br />2 <br />