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<br />• Shade Trees department - 2023 Budget includes Ash tree removal and boulevard <br />tree trimming. The entire budget of $20,000 has been spent already, to date at <br />$42,800.44. A budget amendment will be necessary in current year in order to meet <br />additional departmental needs. <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 />Highlights: <br />• Fund 202 Cable TV includes approximately 8K for upgrades to Council Chambers. <br /> <br />Other Items <br />Expenditures in the Insurance Fund at 82.46% of budget. General Liability and Workers <br />Compensation Insurance is paid in full in the first quarter, however revenue allocations from the <br />General Fund and Enterprise Funds are done quarterly (Revenues at 75.25% - reflects Q1 to Q3 of <br />revenue allocations). This practice is consistent with prior years. <br /> <br />Investments <br />As of September 30, 2023, total cash and investments for all City Funds totaled $16,394,668.34, <br />and the allocation by investment type is as follows: <br /> <br />All of the CD’s that City holds are under $250,000 and are FDIC insured. All current investments <br />are within 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 /> <br />Type Amount Percentage <br />MM $1,753,869.34 10.70% <br />CD $10,799,562.47 65.87% <br />Agency $1,049,223.70 6.40% <br />Treasury $1,045,272.32 6.38% <br />Municipal $243,298.80 1.48% <br />Checking 4M $1,503,441.71 9.17% <br />Total $16,394,668.34 100.00%