ITEM:         

INFORMATIONAL ITEMS/STAFF REPORTS

 

18.

RECEIVE AND FILE FIRST QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2016-2017

 

Meeting Date:

November 14, 2016

Budgeted: 

N/A

 

From:

David J. Stoldt,

Program/

N/A

 

General Manager

Line Item No.:

 

 

Prepared By:

Suresh Prasad

Cost Estimate:

N/A

 

General Counsel Review:  N/A

Committee Recommendation:  The Administrative Committee reviewed this item on November 7, 2016 and on a vote of 3 – 0 recommended approval.

CEQA Compliance:  N/A

 

SUMMARY:  The first quarter of Fiscal Year (FY) 2016-2017 came to a conclusion on September 30, 2016.  Table comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibit 18-A.  Exhibits 18-B and 18-C presents the same information in bar graph format.  The following comments summarize District staff's observations:

 

REVENUES

 

The revenue table compares amounts received through the first quarter and conclusion of FY 2015-2016 to the amounts budgeted for that same time period.  Total revenues collected were $240,793, or 7.7% of the budgeted amount of $3,140,163.  Variances within the individual revenue categories are described below:

 

 

EXPENDITURES

 

Expenditure activity as depicted on the expenditure table is similar to patterns seen in past fiscal years.  Total expenditures of $1,641,439 were about 52.3% of the budgeted amount of $3,140,163 for the period.  Variances within the individual expenditure categories are described below:

 

 

EXHIBITS

18-A    Revenue and Expenditure Table

18-B    Revenue Graph

18-C    Expenditure Graph

 

 

 

U:\staff\Boardpacket\2016\20161114\InfoItems\18\Item-18.docx