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January 17, 1995 <br /> Finance Department <br /> <br />SUBJECT: First Quarter 1994-95 Financial Report <br /> <br />STAFF RECOMMENDATION: <br /> <br /> Staff recommends that Council adopt the attached <br /> resolution to: <br /> <br /> 1. Amend the budgets of all Funds to replace <br /> estimated July 1, 1994 beginning fund balances <br /> with actual June 30, 1994 ending fund <br /> balances. <br /> <br /> 2. Amend the 1994-95 Operating "Budget per <br /> Appendix A. <br /> <br /> 3. Amend the 1994-95 Capital Improvement Program <br /> Budget per Appendix D. <br /> <br />SUMMARY: Quarterly, a report of the City's financial <br /> condition is presented to the City Council. This <br /> report includes any staff recommendations for <br /> budget amendments and technical corrections or <br /> actions needed. This is the first quarterly report <br /> for the fiscal year 1994-95. Only a few clean-up <br /> actions are being requested at this time. <br /> <br />Honorable Mayor and Members of the Council: <br /> <br />BACKGROUND <br /> <br />The purpose of this report is to present the status of operating <br />and capital improvement revenues for the period July 1, 1994 <br />through September 30, 1994. An analysis of any major variances <br />between projected and actual revenues will be explained. A more <br />in-depth analysis will be made at midyear, when the expenditures <br />will also be examined. <br /> <br />SR95:26 <br /> <br /> <br />