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a <br />The other fadtdr grid <br />hd equally important as funds invested Is -the City's bash in the bank. These <br />are the fund4 ths.City uses to pay its bills each rnonth.* Since the City receives the majority of its <br />money in July and December from tax settlements, it is not unusual f6Mhe City to have a large <br />amount of cash available in thoso*rn.onths with the funds*being -drawn down in the*01roiceeding <br />months. Depending on expenditures and other revenues collect. the City r.nay 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 tax settlement and the City has drawn down those funds since. <br />Cash Balances <br />1,000;000.00 <br />900,000-00 <br />800,000.00 <br />700,000.00 <br />600,000i,00 <br />AcOpomo <br />200,000*.00 - _)'X2 <br />0.0.0 <br />A <br />CONCLUSION <br />The City has -had a. normal first three quarters of the year financially. Through the third quarter, <br />it appearsrevenues should finish the year above budgeted amounts for most revenue sources, <br />while expenditures may end near or slightly below budgeted amounts, with the exception of the <br />water fund, which has the water study expense. that Was not budgeted: The City has sufficient <br />cash and investments to meet its obligations until the City receives- its.second half tax <br />settlement. in December, however investment earnings rernains -IqW. Therefore, ft..WQtild appear <br />the City continues to be in good financial shape for 2022. <br />