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State unemployment for May was 2.8% which compares to national unemployment of 4.0%. Nationally, <br /> inflation is at 3.0%, which is the same as it was a year ago. The high was back in 2022 at 9.1%. <br /> At the state level, the legislature is working with a $3.7 billion surplus based on the February 2024 <br /> forecast. The Legislature needed to adopt any budget amendments by May 20" <br /> Finance Department Operations: <br /> The annual financial audit and the 5 Year Financial Plan have been completed. Work on the 2025 <br /> Municipal budget is in process. Budget work will continue thru the summer and into the fall. <br /> Recommendation <br /> Staff recommends the City Council review and accept the quarterly report. <br /> Respectfully Submitted, <br /> -76�- -7-r <br /> Gayle Bauman, Finance Director <br /> Attachments <br /> Exhibit A— General Fund <br /> Exhibit B — Other Governmental Funds <br /> Exhibit C —Water Fund <br /> Exhibit D — Sewer Fund <br /> Exhibit E — Street Lighting Fund <br /> Exhibit F — Surface Water Management Fund <br />