CCP 08-17-1992 - Laserfiche WebLink

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P1\GE 'mREE JULY FDmN::I1lL REPCRl'!CXI!MENl'ARY . arnER FUNDS . Shade Tree #224 - will chronic armual operating deficits ($8,000) always be subsidized by the General F\md? . Program #225 - Appears that this fund will never be "self- ta' . II The level of required subsidy (33%) approximates SUB l.Jlll1g. two-thirds of the allocated salary arrl FICA!PERA fringe costs of the Receptionist, Program SUpervisor arrl Parks Director. . Permanent IlTprovement Revolving F\md #501 - Project spending to date includes Tiller lane ($69,000); Old Snelling Avenue ($63,000); Keithson Pond ($33,000); West Round Lake Road ($5,000) arrl Arden Place ($2,000). The $30,000 overbudget payment on the Old Snelling project should be offset by a ==esponding MSA Construction payment. The Tiller lane project resulted in $55,000 of Assessment Prepayment receipts. . Water arrl Sewer #601 arrl #602 - Revenues to-date are not c:onparable. D..te to accounting receivable a=l practices, the Water F\md has three quarters of billings (4Q91, 1Q92 & 2Q92) while the Sewer F\md effectively has only 1.5 quarters of receipts (4Q91, 1Q92, less 2Q92 "prepayment" transfer to the Water F\md) . . - Is it appropriate to record the unbudgeted, Council - authorized $25,000 expenditure for electricity in the Clevelarrl Avenue Lift station in the Sanitary Sewer F\md? rnvE8'IMEm' FORI'FOLIO . Investment in Money Market Funds is approximately $315,000 over the goal. There funds are placed here temporarily in anticipation of a 3Q92 internal rond defeasance. The cash requirements for this transaction will be $450,000. . Even with the relatively high-yielding portfolio the City has, the overall armualized yield (6.24%) has now dipped below the yield assumption (7%) in the 1992 budget. Interest i.nccmIe of $287,000 was budgeted, $155,000 has been received through July 31, 1992. A revenue shortfall in the range of $30,000-$60,000 is projected. While not having a significant impact on General F\md perfornance, this shortfall will impact 1992 cash flow planning. I will be at the August 17, 1992 Council meeting arrl available for any camnents or questions you may have. TP:rk .