07-27-2022 Council Packet - Laserfiche WebLink

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 Planning is trending low at 40.07%, mainly due to personnel expenditures under budget as a result of one employee being on short term disability at the beginning of the year.  The Fire department is at 65.97% of the budget since contracted services includes Q1 to Q3 payments. This is consistent with the practice in prior years.  Streets trends low at 41.31% as budgets for Ramsey County Striping and Sealcoating have not yet been spent. It is anticipated that these projects will be done in Q3.  The Northeast Youth & Family Services contract is paid once per year, so Community Partnerships is at 74.13% of the budget. This is consistent with prior years.  City Garage trends high at 65.34%, primarily due to increase expenditures in the Electric/Gas Utilities account, due to cost increases in 2022.  2022 Budget includes Ash tree removal and boulevard tree trimming. Quarter one trends low at 18% since there were no expenditures incurred that related to ash borer treatments and minimal tree removal. It is anticipated that more removals and treatments will occur in Q3. 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. Other Items The City received the first half of the American Rescue Plan Act (ARPA) funds at the beginning of July in the amount of $576,035.20. Additionally, The City has received it first tax settlement two installments. One advance end of June and final beginning of July. Investments As of June 30, 2022, total cash and investments for all City Funds totaled $17,784,775.12, and the allocation by investment type is as follows: Type Amount Percentage MM $550,819.61 3.10% CD $12,432,009.39 69.90% Agency $1,599,781.00 9.00% Treasury $1,116,734.39 6.28% Municipal $243,298.80 1.37% MM 4M $1,842,131.93 10.36% Total $17,784,775.12 100.00%