07-26-2023 Council Packet - Laserfiche WebLink

Home Browse Search

 Streets trends low at 40.48% as budgets for Ramsey County Striping and Sealcoating have not yet been paid (The work was done in May) It is anticipated that invoicing will be received and paid in Q3.  The Northeast Youth & Family Services contract is paid once per year, so Community Partnerships is at 77.99% of the budget. This is consistent with prior years.  Shade Trees department - 2023 Budget includes Ash tree removal and boulevard tree trimming. The entire budget of $20,000 has been spent already, to date at $27.736.44. A budget amendment will be necessary in current year in order to meet additional departmental needs. 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 Expenditures in the Insurance Fund at 72.65% of budget. General Liability and Workers Compensation Insurance is paid in full in the first quarter, however revenue allocations from the General Fund and Enterprise Funds are done quarterly (Revenues at 50.17% - reflects Q1 and Q2 of revenue allocations). This practice is consistent with prior years. Investments As of June 30, 2023, total cash and investments for all City Funds totaled $19,042,289.29, and the allocation by investment type is as follows: Type Amount Percentage MM $1,743,141.70 9.15% CD $10,473,597.88 55.00% Agency $2,049,223.70 10.76% Treasury $1,045,272.32 5.49% Municipal $243,298.80 1.28% Checking 4M $3,487,754.89 18.32% Total $19,042,289.29 100.00% All of the CD’s that City holds are under $250,000 and are FDIC insured. All current investments are within the City’s Investment Policy. Since the City’s cash and investments are needed for cash flow in the City’s operating and capital activities, it is helpful to understand the maturities in order to structure future investment opportunities. Below are the future maturities for the City’s cash and investments.