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CITY OF ST. ANTHONY <br /> REQUEST FOR CITY COUNCIL ACTION <br /> ------------------------------------------------ - <br /> • Date Submitted Type of Action Requested Agenda Item Number <br /> Resolution Reports-2a <br /> February 23 1983 Ordinance <br /> Date Action Requested Formal Action/Motion Title 1982 Year-End <br /> —X Other <br /> March 1 , 1983 Informational Investment Report <br /> ---------------------------------------------- <br /> TO: Mayor and Councilmen <br /> FROM: Carol B. Johnson, Finance Director <br /> ---------------------------------------------- <br /> SUMMARY DISCUSSION OF SUBJECT: Investments as of December 31 , 1982 <br /> Merrill , Lynch Firm-U.S. Treasury Bills $ 101 ,792.30 <br /> Midwest Federal Savings & Loan Association-C.D. ' s 600,000.00 <br /> Twin City Federal Savings & Loan Association-C.D. 's 550,000.00 <br /> St. Anthony National Bank-Money Market Account 400,000.00 <br /> TOTAL $1 ,651 ,792.30 <br /> Interest Earned for 1982 $ 198,872.53 <br /> Interest Earned for 1981 180,761 . 17 <br /> • Interest Earned for 1980 150 ,218.37 <br /> 1982 <br /> December 31 , 1982 Cash balance $ 161 ,305.34 <br /> Funds invested 1 ,651 ,792.30 <br /> $1 ,813,097.64 <br /> As of December 31 , 1982, 91 . 10% of the City' s funds were invested . <br /> -These are unaudited figures and could possibly change somewhat after our audit. The <br /> interest earned figures for 1981 and 1982 reflect accrued interest, where the 1980 <br /> interest earned figure was on a cash basis as of 12/31/80. <br /> You will also note that we now have a Money Market Account with St. Anthony National <br /> Bank which at present is earning 84%. That is a little better than what we can get <br /> on C. D. 's. I will keep checking the rates on C.D. 's and if they exceed the money <br /> market St. Anthony is paying at that time, I will then invest in C.D. 's. Also, as <br /> of December 1 , 1982, we switched our regular checking account with St. Anthony Nation- <br /> a] Bank to a NOW account, so we are earning interest daily on our fund balance. As <br /> a point of information, for the month of December, we earned $325.58 on our checking <br /> _ account, which wasn ' t switched over until about December 20, 1982. <br /> 3' CITY MANAGER' S REVIEW: COMMENTS : <br />