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Home My WebLink About[04c] Treasurer's Report Council Agenda Item 4c MEETING DATE: February 18, 2020 AGENDA ITEM: Treasurer’s Report – January 2020 SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Cash/investment presented as January 31, 2020. Budget to actual reports attached for Council review. The reports reflect some 2019 activity. The receivables and payables will be adjusted after audit th fieldwork. The audit is scheduled the week of March 16. The cash and investment balance decreased $168,744 since the beginning of the year. The first half taxes and state aids will be received in June/July. The first half of the year the budget is covered by working capital from the carryover of the previous year. Staff requested the BDPI grant reimbursement from the State for the industrial park project, and requested half of the municipal street construction aid for the 2019 street project. Both are expected in the next month. The equipment certificates proceeds will be th received on March 4. The General fund spent 9% of the expenditure budget and received 2% of the revenue budget at the end of January. It was a relatively quiet January. Computer upgrades began with replacements and software updates to Windows 10. The public works equipment partially funded by the equipment certificates were ordered. The Enterprise funds spent 5% (without depreciation) and received 6% of the revenue budget. The revenue represents the Nov/Dec billing received in January. The first bill cycle on the 2020 rates will be mailed in March. There was a water main break that was repaired. The revenues/expenses are mainly operational in nature. BUDGET/FISCAL IMPACT: Information Only ATTACHMENTS: Request for Council Action – Treasurer’s Report 2020 Treasurer’s Reports: Cash Balances Month End Revenue Summary Month End Revenue Summary – General Fund Month End Revenue Summary – Enterprise Funds Month End Expenditure Summary Month End Expenditure Summary – General Fund Month End Expense Summary – Enterprise Funds REQUESTED COUNCIL ACTION: Accept the Treasurer’s as presented.