Submitted By: Peter Lee
Department: Budget
STAFF RECOMMENDATION (Motion Ready):
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Monthly Budget to Actual Report as of January 31, 2023 and Capital Improvement Project Status Report
end
OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
Monthly Budget to Actual Report as of January 31, 2023 and Capital Improvement Project Status Report
Budget to Actual Report for Month Ended January 31, 2023
In accordance with City Council direction, attached is a review of budget to actual performance for January 2023. As previously committed, staff will supply Council a monthly informational budget to actual report at the earliest opportunity after closing balances of the prior month.
Attached is a fund level summary of all revenues and expenses. For the General Fund, there is an additional summary report at the department level.
Typically, State revenues lag two months behind. Therefore, December and January revenues are not recorded yet for those particular revenues (i.e., Sales Tax, Municipal Revenue Sharing, etc.) Additionally, Ad Valorem revenues are 32.96% collected. Expenses are within budget, except for some one-time expenditures which occur early in the fiscal year.
Capital Projects & Replacement Status Report
As discussed at Council’s Strategic retreat, a status report of Capital Projects has been included.