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City of Lauderdale First Quarter Investment Report May 13,2014 The quarter ended with a general fund balance of $422,670 and cash and investments totalin $3 160,993. That is the total of all fund balances including the 601 and 602 sewer enterprise funds. Since the City pools the fund balances for investment purposes, at quarter end $3,012,747.90 was invested. 91 was invested in money market funds $1,800,035.00 in certificatesof deposit The city staff did not purchase any CDs this quarter. The money market rates remain lack luste The most they pay is.05%. The City received.03% interest on the check book balance through] the quarter. This quarter, earned $5,550.61 291.13 last quarter bringing the 1 • /i$5,550.61.earned$13,998.11 _ _ 1$14,826.94 interestin 112; $30,612.67 in inter- 111; and $54,673.60 in 2010.expectation the City will receive about the same amount in interest in 2014 as 2013 as the rates have not moved Table 1 shows how the interest was divided between the funds and compares interest earned to the adopted budget. The funds with the largest balances get the greatest interest distributions. Since the City is no longer receiving TIF funds, interest income was not budgeted for but the City will continue to apply interest to that account until the funds are spent. Additionally, the new Development Fund 414 was added to the list. Table 1: Investment Earning- Distribution by Fund 1i 2014 Budget As 1 10 1 --General Fund 1 • '► '► • — Communication __202 304 — 2003 Street Improve 11 — Capital Improve,111 12 — Capital Improve,- I'I 11 • 403 — Capital Improvement, Storm Sewer ►•11' ► 1 404 — Capital Improve, Parks ► 111 • 405 — TIF Projects -- 407 — Sewer Improvements 414 — Development 601 — Sewer Ente rise Fun "1111W610 Me, 602 — Storm Sewer Enterprise Fund