2016 04-16 CC PACKET - Laserfiche WebLink

Home

CAPITA. PROJECT FUNDS Again no revenues have been received in the first quarter are from special assessments, which the City will receive with the first half 2016 property tax settlement in July. The expenditures are. engineering expenditures for the water extension project into the business district. ENTERPRISE FUNDS The Ci.y'.s only Enterprise Fund is the Sewer Enterprise. Fund. Revenues for the first quarter are above last year revenues and are just under 221/1a% of budgeted revenues. Revenues totaled $1.2,042.82 for the first quarter of 2016 compared to $13563.12 last year. Expenses for the year are below last year's expenses and are just over 6.5% of budgeted expenditures. Keeping in mind that the expense budget for the Sewer Enterprise Fund 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 $25,713.00 for these charges and have paid 16.7% or $4,285.56 for this line item. Overall the Sanitary sewer fund should finish the year with revenues .slightly above budget and expenses close to budgeted amounts. If this happens the.Sewer Enterprise Fund wilt operated at a loss of about $12,300, which suggests the need for a rate adjustment. CASH AN©.INVESTiVIENTS Finally, the City had .$741.86.1.29 invested as of March 30111- This compares to $877,855.37 invested last year at this time. The decrease in investments. is.due: to the City paying for the water extension project and making. its annual. debt payments. The investments had an average interest rate of 1.17% compared to 1.66% last year. The chart below .shows the City's invested funds for the last three years. $ Invested �,zr�a;e�i.o0 1,000,000.00 800,06100 600,000.0() M 2014 400;o.00.00 s! 2C1f5 0,00 2 0..1.6 The other factor and equally important as funds invested is the City's cash in the bank, These are. the funds the City uses to pay its. bills each month. Since the City receives the majority of its