TO: Mayor and Members of City Council
THRU: Telly Whitfield, Assistant City Manager
FROM: Jay C. Toland, Chief Financial Officer
Brenda J. Powell, Financial Reporting Manager
DATE: March 18, 2019
RE:
Title
Revenue and Expenditure Reports for the Annual Funds for the Six-Month Period Ended December 31, 2018 with Comparative Information for the Six-Month Period Ended December, 2017, and Revenue and Expenditure Reports for the Multi-Year Funds from Inception and for the Six-Month Period Ended December 31, 2018.
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COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Mission Principle 2 - The City Government is financially sound and provides a full range of quality municipal services that are valued by our customers and delivered by a dedicated workforce in a cost effective manner focused on customer service.
Executive Summary:
The city's revenue and expenditure reports for the six-month period ending December 31, 2018 is provided for Council's information.
Background:
The attached reports consist of annual operating reports for the General Fund and Other Operating Funds. Revenue and expenditure reports for the Multi-Year Funds are also provided. The annual operating reports provide revenue and expenditure data for the current fiscal year as of December 31, 2018 with comparative data for the same period of the prior fiscal year. The current year annual budget along with positive or negative changes between the "Actuals" columns is also provided.
The revenue and expenditure reports for the multi-year funds provide revenue and expenditure data along with a listing of current projects and project authorizations, activity from inception, encumbrances and project balances.
Most revenues are reported when they are both measurable (cash flow from the revenue can be reasonably estimated) and available (revenue is available to finance current year expenditures to be paid within 60 days). Sales taxes and utility taxes...
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