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Escalon staff reports third-quarter budget roughly on target; audit work on prior years delaying final report
Summary
City finance staff told the City Council that third-quarter revenues are slightly below straight-line expectations while expenses are modestly above; staff said one-time revenues and slower audit reconciliation of prior-year figures explain the differences.
Escalon City staff reported on third-quarter budget results and answered council questions about a delayed audit at the council meeting.
Celinda, a city finance staff member, told the council that at quarter three the city had realized about 71% of expected revenues and had expended about 77% of the budget, compared with a straight-line target of roughly 75% for both measures. "At mid year we were looking at about a $50,000 deficit; right now we're at a $44,000," Celinda said, adding the city has spent about $434,000 less year-to-date than at the same point last year.
The staff presentation noted several one-time receipts that…
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