ADMINISTRATIVE COMMITTEE

 

3.

RECEIVE AND FILE FOURTH QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2011-2012

 

Meeting Date:

January 18, 2013

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 January 18, 2013 and recommended ___________________.  

CEQA Compliance:  N/A

 

SUMMARY:  The fourth quarter of Fiscal Year (FY) 2011-12 came to a conclusion on June 30, 2012.  Bar graphs comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibits 3-A and 3-B.  Exhibit 3-C presents the same information in a table format.  Please note that the final figures for the fiscal year are subject to change as adjusting entries could be made during the annual audit process which is currently under way.  The following comments summarize District staff's observations:

 

REVENUES

 

The revenues graph compares amounts received through the fourth quarter and conclusion of FY 2011-2012 to the amounts budgeted for that same time period.  The activity as depicted on the revenue graph is similar to patterns seen at the end of the fourth quarter in past fiscal years.  Total revenues collected were $5,072,482, or 61% of the budgeted amount of $8,358,000.  Variances within the individual revenue categories are described below:

 

 

 

EXPENDITURES

 

Expenditure activity as depicted on the expenditure graph is similar to patterns seen in past fiscal years.  Total expenditures of $6,621,741 were about 79% of the budgeted amount of $8,358,000 for the period.  Variances within the individual expenditure categories are described below:

 

 

EXHIBITS

3-A      Revenue Graph

3-B      Expenditure Graph

3-C      Revenue and Expenditure Table

 

 

 

 

U:\staff\Board_Committees\Admin\2013\03\item3.docx