Attachment 21
Melissa YnegasSent:Tuesday, February 20, 2018 10:58 AMTo:Melissa YnegasSubject:FW: Explanation PleaseAttachments:Attachment_1_-_2nd_Qtr_2017-18_Budget_Performance_Report_FINAL.pdf; ATT00001.txt ‐‐‐‐‐Original Message‐‐‐‐‐ From: Stephen Conway Sent: Tuesday, February 20, 2018 8:33 AM To: Gitta Ungvari <GUngvari@losgatosca.gov> Subject: FW: Explanation Please
‐‐‐‐‐Original Message‐‐‐‐‐
From: Phil Koen [mailto:pkoen@monteropartners.com]
Sent: Monday, February 19, 2018 9:59 AM
To: Laurel Prevetti <LPrevetti@losgatosca.gov>; Stephen Conway <sconway@losgatosca.gov>
Cc: jvannada@gmail.com; Rob Rennie <RRennie@losgatosca.gov>
Subject: Explanation Please
Laurel and Steve,
I am trying to understand the mid year report. I have two questions with regard to the presentation of the analysis on
page 19.
I am trying to agree the actuals shown for 2017 in the analysis to the published 2017 CAFR. Unfortunately the
presentation in the mid year report is not consistent with the presentation in the 2017 CAFR.
Could you please provide an explanation for the following:
1. In comparing the actual revenues for the General Fund as reported in the CAFR that amount was $38,746. On page 19
of the attached report the total revenue (less transfer in of $313k) is $42,958. That leaves an unexplained difference of
$4,212. Could you please explain this difference? What revenue source is being included in the mid year revenue report
which was not in included in the general fund numbers as reported in the 2017 CAFR?
2. Total general fund expenditures for 2017 as reported in the CAFR was $34,538 with general government expenditures
of $4,945. In the attached report total general fund expenditures is reported to be $43,931 with general government
expenditures totaling $14,195. That is $9,250 more than what was reported in the 2017 CAFR. Could you please explain
the difference. Obviously you are including additional expenditures that were not reported in the 2017 CAFR.
Lastly, based on the mid year report forecast, what is the forecasted general fund ending balance at the end of the year
assuming all of the adjustments you are proposing occur and the revenue and spending track to your current view.
Thank you.