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It is important to note that the collection of a receivable is not income. However, because the <br />receivable was fully reserved the payoff does release funds from the General Fund's "reserved" <br />portion of fund balance to the Council Designated portion of fund balance. The result is to make <br />more funds available to Council for future use. <br />Staff will be available to answer any additional questions the Finance Committee may have <br />regarding the various components of the positive variance for 2008-09. <br />G:~FINCOMM~2009-] O~Staff Report~Preliminary Financial Results for the General Fund for 2008-09 9-08-09.docx <br />