2003-04-14 Regular Meeting, Public Hearing and Workshop Meeting

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I I I I I I I I I I I I I I I I I I I e City of La Porte Established 1892 April 28, 2003 Honorable Mayor and Members of City Council City of La Porte, Texas Dear Mayor and Members of City Council: I am pleased to present the City of La Porte's Quarterly Report for the period ending March 31, 2003. This document is designed to be a communication tool between my office and yours, and it is an attempt to provide you with useful information. I continue to receive positive feedback on the value of these reports for reference purposes, and I have made enhancements to facilitate their effective usage. The current report outlines key aspects of our organization and operations for the second quarter of the current Fiscal Year, and is presented in five (5) sections: Introductory, Financial Summary, Investment Report, Capital Improvement Proje<?ts, and General Information. The Introductory section includes this transmittal letter, the City's Organizational Chart and a list of principal 0 fficials. The Financial Summary section i neludes a brief recap 0 f Revenues and Expenditures for all Operating Funds. The section titled Investment Report will include a detailed overview of the City's Investment portfolio as required by the Public Funds Investment Act. Included in the Capital Improvement Projects (CIP) Section is detailed information regarding all ongoing capital projects along with individual project status reports. The final section is titled General Information and is designed to encompass any other areas where pertinent information is deemed necessary. . EXEC~TIVE SUMMARY The City of La Porte records or tracks revenues in more than 100 individual line item accounts. As with most organizations, 10% of the revenue accounts generate 90% of the revenue. Because of the importance of the largest accounts, detailed explanations of their projections and current collections are discussed below. Keep in mind that we use the numbers recorded as of this period (mid-year) to project and base our next year's budget on - a process we will begin on Monday, May 5, 2003. 604 W. Fairmont Pkwy. 0 La Porte, Texas 77571 . (281) 471-5020