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Third Quarter Financial Report as of March 31, 2012 May 4, 2012 <br />Equipment Maintenance make up these funds. <br />Enterprise & Internal Service Fund Expenditures <br />• Water Pollution Control Plant (171% of budget compared to 118% in 2010-11) <br />Expenditures exceed budget based on the inclusion of expenditures for both operations <br />and the plant expansion project in 2011 -12. The expansion is primarily funded by a loan <br />from the state. <br />Special Revenue Funds <br />Revenues and expenses for the City's operating Special Revenue Funds are included in the <br />report. Revenues and expenditures for the Parking Fund, Gas Tax Fund, Heron Bay <br />Maintenance Fund, Housing Services Funds, Business Improvement District Fund, and the <br />Public Education & Government Access Fund are provided. <br />Special Revenue Funds Revenues <br />Parking Fund (77% of budget compared to 116% in 2010 -11) Quarterly billing for <br />parking has decreased by $16,000 since the closing of the Estudillo Parking Garage (the <br />2012 -13 budget anticipates increased revenues based on the projected reopening of the <br />garage in September 2012. <br />Public Education & Government Fund (121% of budget in 2011 -12)- The PEG fund <br />shows revenue of $180,000 due to the transfer of funds from prior years to establish the <br />Special Revenue Fund for PEG revenue. <br />CONCLUSION <br />Staff recommends that the Finance Committee accept and approve the Mid -Year Financial <br />Report as of March 31, 2012 for the 2011 -12 General Fund, Special Revenue Funds, Enterprise <br />Funds, and Internal Service Funds Budget for forwarding to the full City Council for review and <br />approval <br />