Laserfiche WebLink
  <br />Highlights: <br /> The Elections department includes the first, second, and third quarter elections <br />services contract payments, and annual election maintenance payment to Ramsey <br />County. <br /> Planning is trending low at 88.74%, mainly due to personnel expenditures under <br />budget as a result of one employee being on short term disability at the beginning <br />of the year. <br /> The Fire department is at 103.82% of the budget due to PERA passthrough <br />estimated low. This is consistent with the practice in prior years. <br /> Streets trends low at 93.76% as budgets for Ramsey County Striping and <br />Sealcoating came in under budget. <br /> Community Partnerships is at 76.66% of the budget. This includes the Northeast <br />Youth & Family Services contract as well as expenditures for community pride <br />which came under budget by approximately 80% or $7,000. This is consistent with <br />prior years. <br /> City Garage trends high at 130.06%, primarily due to increase expenditures in the <br />Electric/Gas Utilities account, due to cost increases in 2022. <br /> <br />Special Revenue and Enterprise Funds <br />The Quarterly Financial Report for the special revenue and enterprise funds is attached to this <br />report. All funds fell within the expected budget amounts. <br /> <br /> <br />Investments <br />As of December 31, 2022, total cash and investments for all City Funds totaled $20,077,763.59, <br />and the allocation by investment type is as follows: <br />Type Amount Percentage <br />MM $397,249.86 1.98% <br />CD $10,931,210.04 54.44% <br />Agency $2,349,157.70 11.70% <br />Treasury $1,060,025.60 5.28% <br />Municipal $243,298.80 1.21% <br />Checking/MM 4M $5,096,821.59 25.39% <br />Total $20,077,763.59 100.00% <br /> <br />All of the CD’s that City holds are under $250,000, and are FDIC insured. There is one CD at <br />RCU that is collateralized, as per the City’s investment policy. All current investments are within <br />the City’s Investment Policy. <br /> <br />Since the City’s cash and investments are needed for cash flow in the City’s operating and capital <br />activities, it is helpful to understand the maturities in order to structure future investment <br />opportunities. Below are the future maturities for the City’s cash and investments. <br />