Town Of Moraga

Town's Operations End Fiscal Year With Surplus

The unaudited budget-to-actuals report for the fiscal year ended June 30, 2014 was submitted to the Town Council at its meeting on October 22. The Town ended the year with an operating surplus of $262,749, where revenues exceeded expenditures. The surplus gets added to the General Fund unassigned fund balance (reserve) for a total amount of $2,879,900, which equals 43.37% of operating expenses for the year. As of the year end, the Town also has an additional balance of $1,715,737 in Palos Colorados settlement funds.

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