2016 11-15 CC PACKET - Laserfiche WebLink

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year's expenses and are just over 34% 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 15% or $19,285.02 for this line item. Overall the Sanitary sewer fund should finish the. year wish revenues above budget and expenses close to budgeted amounts, if this happens the Sewer Enterprise Fund will have operated at a gain. CASH AND INVESTMENTS Finally, the City had $503,952.41 invested. as of September 30t'• This compares to $868,585.21 invested last year at this time. The decrease in investments is due to the City's water project. The investments had an average interest rate of 1.17% compared to 1.06% last.year. Interest rates remain low with 2.90% 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 1,200;000.00 I,m o$000, o0 804,OOO.DD 600,000.0Q. 2(]34 4va,p0a.0Q 200;000.00 - -- 701 0.00. t 2016 aA �� `a ��ti e t vt ei e C 5 � 4 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 money in July and December from tax settlements, it's riot unusual for the City to have a large amount of cash available in those. months with the funds being drawn down in the proceeding months. Depending on expenditures and other revenues collect the City may draw on its investments to help meet its cash needs. The chart on the following page demonstrates the cash flow for the City.