ITEM:

CONSENT CALENDAR

 

5.

RECEIVE AND FILE SECOND QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2017-2018

 

Meeting Date:

February 22, 2018

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 February 13, 2018 and recommendedapproval.

CEQA Compliance:  This action does not constitute a project as defined by the California Environmental Quality Act Guidelines Section 15378.

 

SUMMARY:  The second quarter of Fiscal Year (FY) 2017-2018 came to a conclusion on December 31, 2017.  A table comparing budgeted and actual year-to-date revenues and expenditures for the period is included as Exhibit 5-A.  The Exhibits 5-B and 5-C present the same information in bar graph format.  The following comments summarize District staff's observations:

 

REVENUES

 

The revenue table compares amounts received through the second quarter and conclusion of FY 2017-2018 to the amounts budgeted for that same time period.  Total revenues collected were $5,876,721, or 90.1% of the budgeted amount of $6,520,400.  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 $3,748,114 were about 57.5% of the budgeted amount of $6,520,400 for the period.  Variances within the individual expenditure categories are described below:

 

 

EXHIBITS

5-A      Revenue and Expenditure Table

5-B      Revenue Graph

5-C      Expenditure Graph

 

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