Agenda

Back to Calendar Return

Brentwood ECD Agenda

Meeting Date:	04/22/2024
Submitted by:	Karen Harper, Finance
Department:	Finance

Information

Subject

ECD Quarterly Financial Report

Background

Financial Reporting

Please find attached the unaudited financial reports for the third quarter of fiscal year 2024 which include the following: Statement of Revenues and Expenses, Statement of Net Position, and Budget to Actuals Report for the Emergency Communications District (ECD) Fund. The Statement of Revenues and Expenses shows actual year to date revenues and expenses. The Statement of Net Position shows year to date balances for all assets, liabilities, and net position accounts. The Budget to Actuals Report shows the actual comparisons between the budgeted amount and the year to date actual, as of March 31, 2024.

Year to date revenues collected as of March, 31 2024 are $1,752,420 or 96% of the budget. Year to date expenses are $1,246,517 or 69% of the budget. For comparison purposes, for the same period for fiscal year 2023, revenues were $1,532,068 or 89% of budget, and expenses were $1,221,446 or 71% of budget.

The increase in revenues of $220,352 between FY 2024 and FY 2023 year to date is due to an increase in interest earnings, increase in excess revenue, an increase in operating transfer from the General Fund, and a one-time transfer from Capital Projects fund for unused CAD to CAD project funds. FY 2023 also had a loss on disposal of assets in the amount of $80,0470.

Please advise if you have any questions concerning the Emergency Communications District (ECD) quarterly financial reports as of March 31, 2024.

Staff recommendation

N/A

Fiscal Impact

Attachments
Statement of Revenues and Expenses as of 03/31/2024
Statement of Net Position
FY 2024 Budget to Actuals