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,. Francisco Gutierrez <br />Executive Director -Finance and Management Services <br />V <br />ALLOCATION SCHEDULE <br />June 2015: End of the Fiscal Year <br />July 2015: The process of determining revenue & expenditure <br />accruals commences during the months of July through September <br />- All revenues received in July will be accrued back to the previous fiscal year (FY 14-15) <br />- All services rendered, outstanding invoices, & continuing expenses that should be recorded for FY <br />14-15 will be accrued back to the previous fiscal year <br />August 2015: Final determination of accrued revenues <br />- All revenues received in August will be accrued back to the previous fiscal year FY 14-15) <br />- Ex: The Board of Equalization releases the Sales Tax allocation for the months of May and June (FY <br />14-15) <br />ALLOCATION SCHEDULE <br />• September 2015: <br />Final determination of accrued expenses <br />Also, preliminary surplus amount determined <br />• October 2015: Adjustments are finalized and posted <br />Final Council Approval of Surplus Funds <br />• December 2015: Issuance of audit opinion <br />CITY COUNCIL MINUTES 12 AUGUST 18, 2015 <br />