Town Of Moraga

Budget Surplus for Fiscal Year 2012/13

The unaudited budget-to-actuals report for the fiscal year ended June 30, 2013 was submitted to the Town Council at its meeting on October 23. The Town ended the year with revenues exceeding expenditures, creating a surplus of $386,475. The surplus will be added to the General Fund unassigned fund balance for a total amount of $3,125,658, which equals 51.8% of operating expenses for the year. The Council’s policy is to maintain a General Fund reserve of at least 50%.

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