2016 08-23 CC PACKET - Laserfiche WebLink

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ENTERPRISE FUNDS The City's only Enterprise Fund is the Sewer Enterprise Fund. Revenues are just below last year revenues and are just over 28% of budgeted revenues. However, only one quarter of sewer revenues has been record so far with second quarter billing being re.coded in July in the amount of 11,180.00. Revenues totaled $15,926.6.7 far the first: half of 2016 compared. to $39,016.07 last. year. Expenses for the. year are just below last year's expenses and are just ever 2G% of budgeted expenditures. Keeping in mind that the expense budget for the Sewer Enterprise Fund includes depreciation which is Trot recorded until yearend. The main expense is the `M.C.E.S. charges for sanitary sewer treatment. Thbe City lies a budget.of $25,713.00.for these charges and have paid 5011/6 or $12,856.68 for this. line. item. Overall the Sanitary sewer fund should finish the year with revenues near budget aiid expenses close to budgeted amounts.. If. this. happens the Sewer Enterprise Fund will operate at.a loss of about $12,360.00. CASH ARID INVESTMENTS Finally, ths:.City had. $490,058.70 invested as of June 3051. This compares to $858,455..60 invested last year at this time. The decrease in investments is due to the City making its 201E debt payments and the water extension project. The investments had an average interest rage of 1.17% compared to 1:06% last year. Interest rates remain low with 2.94a% interest rate on a CD as its highest rate of return. The chart below shows the City's invested funds for the last three years. $ Invested 1,zoc3,r��a.cx� 12201.4 4ff'J,000 DO 2 (YD,OC10:QO l's. 2;j.15 0.00 2016 The other factor and :equally important as funds invested is the City's cash iri the bank, These are the funds. the City uses to pay its mills each month, Since the. City receives the. majority of its money in July and December from tax settlements, it's not unusual for the City to Have a large amount of cash available in those monthswith the funds being drawn dawn in the proceeding months. Depending on expenditures and other revenues collect the City may. draw ari its