Laserfiche WebLink
Honorable Mayor and Members of the Council: <br /> <br /> INTRODUCTION <br /> <br /> The purpose of this report is to present the slims of Operating and Capital Funds as of the end of <br /> the fiscal year 1994-95, and to analyze any variances between actual revenues and expenditures <br /> compared to previous projections for that year. Staff is also recommending Council actions, <br /> relating to the appropriation of Fund Balances and the carryover of budgeted items from one <br /> fiscal year to the next, which are done each year as the fmal step in closing the books. The <br /> 1994-95 financial audit is not yet complete. Therefore, the information contained herein is noted <br /> as "unaudited", although staff believes the figures are substantially correct. Any further audit <br /> adjustments will be included in the next quarterly financial report. <br /> <br /> OVERVIEW OF FISCAL YEAR 1994-95 <br /> <br /> Fiscal year 1994-95 ended with all Operating Funds essentially on target with projections, with <br /> the few exceptions discussed in detail below. Generally, revenues were on target with <br /> projections. For all Funds, expenditures were below or on target with budget, with the few <br /> exceptions described below. <br /> <br /> DISCUSSION <br /> <br />Appendix A contains tables comparing budgeted versus actual results of 1994-95 operations for <br />all operating Funds, and staff recommended amendments for the fourth quarter. <br /> <br />Appendix B details the Operating Budget recommended carryovers from 1994-95 into 1995-96 <br />for encumbrances, and planned expenditures and transfers. <br /> <br />Appendix C outlines the recommended carryover revenues for Public Works Inspection Services. <br />Appendix D details the projected versus actual 1994-95 General Fund Revenues. <br /> <br />Appendix E contains tables showing the 1994-95 budgeted versus actual results for the Capital <br />Improvement Program Funds, and the recommended CIP carryovers from 1994-95 to 1995-96. <br /> <br />Appendix F contains numerous sales tax and property tax trend charts. <br /> <br />GENERAL FUND <br /> <br />General Fund Revenues <br /> <br />Exclusive of audit adjustments, General Fund revenues are only $48,000 under projections <br />(0.1%). However, due to recent changes made by the Governmental Accounting Standards <br /> 2 <br />SR 95:386 <br /> <br /> <br />