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HomeMy WebLinkAbout[04c] Treasurer's Report Council Agenda Item 4c MEETING DATE: March 16, 2020 AGENDA ITEM: Treasurer’s Report – February 2020 SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Cash/investment presented as February 29, 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 increased $898,512 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. The first draw of the BDPI grant reimbursement from the State for the industrial park project has been received ($1.089M). The balance will be requested as the projects starts up again. The City requested $415,000 municipal street construction aid for the 2019 street project. The reimbursement should be received within the next month. The equipment certificates th proceeds were received on March 4. The General fund spent 18% of the expenditure budget and received 4% of the revenue budget at the end of February. It was a relatively quiet February. 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 8% (without depreciation) and received 14% of the revenue budget. The revenue represents the Nov/Dec billing received in January and February. The first bill cycle on the 2020 th rates were mailed in March 13. There was a water main break that was repaired in January and a lift station pump repair in February. 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.