Metro’s final quarterly financial report for FY 2008-09 is now available. A quick preview: Whether or not you believe the recession is over, the effect of it is not.
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The fourth quarter financial report is an unaudited assessment based on the “second,” but not yet official, close of fiscal year 2009. The audited financial statements are presented following the conclusion of the audit in the Comprehensive Annual Financial Report (CAFR), usually in early January.
The FY 2008-09 fourth-quarter report reviews the year’s revenues and expenditures, checks the status of capital projects (assessed in the second and fourth quarters), takes a look at the total ending balances compared to total beginning balances in the major funds, and notes any information or trends that will affect Metro’s FY 2009-10 budget.
The Metro Council will begin discussing the shape of its FY 2010-11 budget at a work session on Sept. 29. Metro’s next quarterly report (for FY 2009-10 first quarter, July-August-September) will be issued in mid-November.