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<br />. <br />~, of La Porte <br />Interoffice Memorandum <br /> <br />e <br /> <br />To: <br /> <br />obert T. Herrera, City Manager <br /> <br />Date: <br /> <br /> <br />Jeff Litchfield, Director of Finance/ACM <br /> <br />From: <br /> <br />une 18,1997 <br /> <br />Subject: <br /> <br />Status of Utility Capital Improvement Fund <br /> <br />I have reviewed the Financial position of the Utility Capital Improvement Fund (Fund <br />003) as of May 31, 1997 and can report the following: <br /> <br />Revenues for fiscal year 95-96 were $33,883 over the budget estimate; <br />Expenses for fiscal year 96-96 were $57,431 under the budget estimate; and <br />Revenues for fiscal year 96-97 are currently projected to be $30,000 over the <br />budget estimate. <br />These three items total to a positive variance of $121,314. <br /> <br />With this in mind, it is my opinion that the appropriation of $102,460 in additional <br />funding for the waterline replacement project will not have a negative impact on the <br />financial condition of the Fund. <br />