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<br />Other Items
<br />Expenditures in the Insurance Fund at 105.25% 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. This practice is consistent with prior years.
<br />Note that the increase in expenditures relates to opt out payments more than initially budgeted.
<br />Two new employees hired during the year, both chose a payout for health insurance as a benefit.
<br />
<br />Investments
<br />As of December, 2023, total cash and investments for all City Funds totaled $18,714,709.42, and
<br />the allocation by investment type is as follows:
<br />
<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 />
<br />
<br />Type Amount Percentage
<br />MM $1,809,428.28 9.67%
<br />CD $10,066,922.36 53.79%
<br />Agency $1,049,223.70 5.61%
<br />Treasury $800,011.30 4.27%
<br />Municipal $243,298.80 1.30%
<br />Checking 4M $4,745,824.98 25.36%
<br />Total $18,714,709.42 100.00%
<br />Total
<br />2023 2024 2025 2026 2027 2028 2029
<br />January 1- 418,348.19 445,000.00 - - - - 863,348.19
<br />February 2- - 245,000.00 249,000.00 480,000.00 - - 974,000.00
<br />March 3- 370,560.80 733,815.00 607,915.60 240,000.00 - - 1,952,291.40
<br />April 4- 452,407.29 350,000.00 245,000.00 450,000.00 - - 1,497,407.29
<br />May 5- 245,000.00 - 245,000.00 - - - 490,000.00
<br />June 6- 545,082.67 - - - - - 545,082.67
<br />August 7- 586,000.00 745,000.00 735,000.00 - - - 2,066,000.00
<br />August 8- 735,000.00 490,000.00 733,000.00 - - - 1,958,000.00
<br />September 9- 249,376.70 198,030.19 - - - - 447,406.89
<br />October 10 - 383,919.72 - - - - - 383,919.72
<br />November 11 - - 245,000.00 - - - - 245,000.00
<br />December 12 - 492,000.00 - 245,000.00 - - - 737,000.00
<br />- 4,477,695.37 3,451,845.19 3,059,915.60 1,170,000.00 - - 12,159,456.16
<br />13,968,884.44
<br />1,809,428.28 MM
<br />Investments Maturity by Year and Month
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