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Home My WebLink About[04c] Treasurer's Report - May 2020 Council Agenda Item 4c MEETING DATE: June 15, 2020 AGENDA ITEM: Treasurer’s Report – May 2020 SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Cash/investment presented as May 29, 2020. Budget to actual reports attached for Council review. The cash and investment balance decreased $379,462 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 final draw of the BDPI grant reimbursement from the State for the industrial park project has been received ($155K). Annual reporting will be required for five years regarding this grant. The City received $415,000 municipal street construction aid for the 2019 th street project. The equipment certificates proceeds were received on March 4. The projects are ongoing and will be spending down the remaining bond proceeds. The General fund spent 38% of the expenditure budget and received 7% of the revenue budget at the end of May. 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 22% (without depreciation) and received 20% of the revenue budget. The th revenue represents the Jan-Apr billing received in March through May. The May billing is due June 15. th As of June 8, about half of the utility bills were unpaid. It was anticipated the late receipts would increase due to COVID-19. 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 May. 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.