03-23-2022 Council Packet - Laserfiche WebLink

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Highlights: • The Elections department includes the elections services contract payment, and annual election maintenance payment to Ramsey County. This department was slightly overbudget by $121. • The Engineering expenditures will end over budget in 2021 due to increased GIS mapping needs in the City. The 2022 budget has been increased to account for this increased need in the future. • Due to timing of storm water maintenance projects and vacancies in the public works department during the 1st half of 2021, the Storm Water department trended lower in 2021. • Expenses for emerald ash borer are reflected in the Shade Tree department. Tree removal and stump grinding at Spooner Park occurred in July, and these expenses are reflected in this report. Canadian Days donated $6,556 to cover the costs of the tree removal at Spooner Park. Special Revenue and Enterprise Funds The Quarterly Financial Report for the special revenue and enterprise funds is attached to this report. All funds fell within the expected budget amounts. Investments As of December 31, 2021, total cash and investments for all City Funds totaled $19,011,446, and the allocation by investment type is as follows: Type Amount Percentage Money Market $14,241 .07% 4M money market 3,160,831 16.61% CD’s 13,118,025 68.92% Treasuries 898,673 4.72% Agencies 1,599,781 8.40% Municipal Bonds 243,299 1.28% Total $19,034,850 100.00% Petty Cash 600 Mark to Market Adjustment -24,004 Total Cash & Investments at year-end $19,011,446 Since all the CD’s that City holds are under $250,000, they are FDIC insured. There are two CD’s at RCU that are collateralized, as per the City’s investment policy. All current investments are within the City’s Investment Policy.