Honorable Mayor and Members of the Hermosa Beach City Council Regular Meeting of February 26, 2018
Title
REVENUE REPORT, EXPENDITURE REPORT,
AND CIP REPORT BY PROJECT FOR JANUARY 2019
(Finance Director Viki Copeland)
Body
Recommended Action:
Recommendation
Staff recommends that the City Council receive and file the January 2019 Financial Reports.
Body
Summary:
Attached are the January 2019 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 52.5% received for 58.3% of the fiscal year. The General Fund revenue, particularly tax revenue, is not received incrementally. Adjusting for tax revenue would bring the total to 57.5%.
General Fund expenditures are 53.2% expended for 58.3% 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. Jan 19 Revenue Report
2. Jan 19 Expenditure Report
3. Jan 19 CIP Report by Project
Respectfully Submitted by: Viki Copeland, Finance Director
Approved: Suja Lowenthal, City Manager