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until. year-end. The main expense is the M.C..E.S. charges for sanitary sewer treatment. The <br />City has a budget of $38,840,00 and has paid 82% or $31,955.79 for this line item. <br />The Water Enterprise Fund has revenuesof $15,292.42 so far. The larger expense is water <br />purchased from the City of Vadnais Heights in the amount of $13,207.17. <br />Overall, the Enterprise Funds should.finish the year with revenues above budget and expenses <br />below budgeted amounts. If this happens, the. Enterprise Funds will have operated at a gain. <br />CASH AND INVESTMENTS <br />Finally, the City had $1,202,313.70 invested as of September 301n. This compares to <br />$1,217,562.82 invested last year at this time. The investments. had an average interest rate of <br />1.66%q compared to.Z64°]a last year. Interest rates remain low with a 3.73% interest:rate:on a <br />CD as its highest rate of return. The chart below shows the City's invested funds for the last <br />four years. <br />$ Invested <br />1,eoo,000,00 <br />1,400,000.00 <br />1,2oo,000.00 <br />1,000,000.00 <br />800,000,00 <br />600,ono.oa <br />400,000.00. <br />200,ODD.00 <br />o.oa <br />c <br />2018 <br />2 019 <br />-2020 <br />2021 <br />The other factor and equally important as funds invested is the City's cash in the bank. These <br />are the funds the City uses to pay its bills each month.. Since the City receives the majority of its <br />money in July and December from tax settlements, it is not unusual for the City to have a large <br />amount. of cash available in those months with the funds being drawn. down in the proceeding <br />months. Depending on expenditures and other revenues collect the City may draw on its <br />investments to help meet its cash needs. The chart on the following page demonstrates the: <br />cash flow for the City. One can see how the City's cash peaked in July with the receipt of the <br />July talc settlement and. the City has drawn down those funds since. <br />