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property taxes, which. the City received a small payment of $587.81D of property taxes, which were paid late that the City received in January. The City will receive with the first half 20.19 property tax settlement in July. CAPITAL PROJECT FUNDS Revenues which have been received in the first quarter are from a special assessment prepayment (someone paid off the balance of their assessments) and delinquent special assessments received in January. The City will receive additional special assessment collections with the first half 2019 property tax settlement in July, which should bring these: revenues closer or past budget amounts. The expenditures are engineering expenditures for the water, sanitarysewer extension and road reconstruction project in the business district: ENTERPRISE FUNDS The City's Enterprise. Funds. include the. Sewer and Water Enterprise Funds. Revenues for the first quarter are above last year revenues and are justover 38.43% of budgeted revenues. Revenues totaled. $25.719.70 for the first.quarter of 2019 compared to $11,105, 36 last year, but 2019 has $14,9.40,00 in SAC and WAC units paid. compared to $3,485 in SAC units in 2018. Expenses for the year are also above last year's expenses and are just over 13.80% of budgeted expenditures. Keeping: in mind that the expense budget for the Sewer and Water Enterprise Funds includes depreciation, which is not recorded until year-end. The main expense is the. M.C.E.S. charges for sanitary sewer treatment. The City has a budget of $27,575..00: for these charges and has paid 23,67% or $6,526.20 for this line item. Overall the Sanitary Sewer and Water Funds should finish the year with revenues :slightly above budget and expenses close to budgeted amounts. If'this happens the Sewer Enterprise. Fund will operated at a lass of about $20,925.00, which suggests the need for a rate adjustment. The. Water Fund appears the rates are okay for now. CASH AND INVESTMENTS Finally, the City had $569.,876,34 invested as of March 315L This compares to $3631.08.44 invested last year at this time. The increase in investments is due to the City collecting special assessments on the water project during 2018. and. the issuing of bands instead of using reserves to fund the street. project: The investments had an average.interest rate of 1.1m compared.to 1.15% last year. The chart on the following page shows the City's.invested funds for the last three years,