CITY COUNCIL AGENDA ITEM
Memo Date: April 15, 2024
Agenda Date: April 23, 2024
Prepared By: Dave Radford, Senior Budget Analyst
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director; Stockton Whitten, City Manager
Requested Action:
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In accordance with City Code, Section 2-74, at the beginning of each month during the fiscal year, the City Manager shall submit to City Council data showing the relation between the estimated and actual income and expenses to date.
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BACKGROUND:
The following reports for the period ending March 31st, 2024 (FY24) provide information for the three major funds: General Fund, Water/Sewer Fund, and the Storm Water Fund. This March 2024 (FY24) report is unaudited and preliminary.
Each of the major funds will have the following reports:
1. Budget by Account Classification Report
Summary of the annual budget, revenues collected and expenditures by fund. The detailed
back-up documentation is found in the Revenue Report and the Detailed Budget Report
Summary by Object
2. Revenue Report
Detail by account number of actual revenues collected vs. budget for the three major funds:
General Fund, Water & Sewer, and Storm Water. This report shows the current period, the
year to date totals, the annual budget and the unrealized balance.
*?Estimated - represents either the current period or year to date prorated budget
*?Actual - represents actual revenue received either in the current period or year to date
*?% Rev - the percentage of actual revenue received vs. budget
*?Annual Estimate - annual budget
*?Unrealized Balance - annual estimate (budget less actual year to date received)
3. Detail Budget Report Summary by Object
Summary of expenditures by account description vs. budget for the three major funds: General Fund, Water & Sewer, and Storm Water. This report shows the current period, the year to date totals, encumbrances, the annual budget and the unencumbered balance.
*?Budget - represents either the current peri...
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