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HomeMy WebLinkAbout[04c] Treasurer's Report Council Agenda Item 4c MEETING DATE: May 18, 2020 AGENDA ITEM: Treasurer’s Report – April 2020 SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Cash/investment presented as April 30, 2020. Budget to actual reports attached for Council review. The cash and investment balance increased $430,303 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 received $415,000 municipal street construction aid for the 2019 street th project. The equipment certificates proceeds were received on March 4. The projects are starting up and will be spending down the proceeds over the next few months. The General fund spent 32% of the expenditure budget and received 5% of the revenue budget at the end of April. It was a relatively quiet first few months; mainly operational. The public works equipment partially funded by the equipment certificates were ordered. The Enterprise funds spent 53% (without depreciation) and received 16% of the revenue budget. The revenue represents the Jan/Feb billing received in March and April. 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 through April. 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.