Honorable Mayor and Members of the Hermosa Beach City Council Regular Meeting of January 8, 2019
Title
REVENUE REPORT, EXPENDITURE REPORT,
AND CIP REPORT BY PROJECT FOR NOVEMBER 2018
(Finance Director Viki Copeland)
Body
Recommended Action:
Recommendation
Staff recommends that the City Council receive and file the November 2018 Financial Reports.
Body
Summary:
Attached are the November 2018 Revenue and Expenditure reports. The reports provide detail by revenue account and by department for expenditures, with summaries by fund at the end of each report.
General Fund revenue is 22.8% received for 41.7% of the fiscal year. The General Fund revenue, particularly tax revenue, is not received incrementally. Adjusting for tax revenue would bring the total to 41.6%
General Fund expenditures are 38.2% expended for 41.7% of the fiscal year. Expenditures do not necessarily occur on an incremental basis.
This CIP Report groups the funding for each project together, which is similar to how the projects are shown in the budget. In the regular Expenditure Report, the CIPs appear at the end of each fund, therefore, the total funding is not displayed in one place.
Attachments:
1. Nov 18 Revenue Report
2. Nov 18 Expenditure Report
3. Nov 18 CIP Report by Project
Respectfully Submitted by: Viki Copeland, Finance Director
Approved: Suja Lowenthal, City Manager