Town Of Moraga

FY2012/13 Mid-Year Budget Report Approved

On January 23, the Town Council approved the FY 2012/13 Mid-Year Budget report. The Town Council adopted the FY 2012/13 Operating and Capital Improvement Budget on June 13, 2012. The budget provides a working financial plan for the year. At mid-year, staff assesses the revenues and expenditures for the first half of the fiscal year (through December 31) for the purpose of identifying major variances between actual transactions and estimated budget amounts. Based on an analysis of actual transactions to date, estimated budget amounts and information available through state and regional funding resources, staff has determined that revenue receipts and expenditures at year end will meet budgeted expectations overall. No mid-year budget adjustments are necessary.

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