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The City's Sewer Fund 1st quarter financial information is as follows: <br />2011 <br />2012 <br />2012 <br />% Received <br />1st Quarter <br />Annual Budget <br />1st Quarter <br />Spent <br />Revenues $ 2,311 <br />$ 47,452 <br />$ 13,330 <br />28.09% <br />Expenditures $ 6,273 <br />$ 52,765 <br />$ 5,691 <br />10.79% <br />Revenues for the first quarter are slightly above anticipated levels. This is because <br />interest earnings were almost half of the budgeted amount for 2012. Expenses are <br />actually lower than anticipated; however, there are expenditures budgeted for sewer line <br />maintenance and repair that will occur in the ensuing months. These budgeted costs in <br />addition to the MCES charges and depreciation which is not recorded until year-end <br />make up the bulk of the expenditure budget. <br />Finally, the City had cash and investments of $979,924.49 invested as of March 31st <br />The table below shows the City's cash and investments by fund. <br />CITY OF GEM LAKE <br />CASH AND INVESTMENT BALANCE STATEMENT <br />As of 03/31/12 <br />Fiscal Year: 2012 <br />Cash and Investments <br />Balance <br />Balance <br />Name of Fund <br />3/1/2012 <br />Receipts <br />Disbursements <br />3/31/2012 <br />General Fund <br />$313,016.30 <br />$3,736.02 <br />$14,434.63 <br />$302,317.69 <br />Parks and Playgrounds <br />$37,880.37 <br />$206.96 <br />$0.00 <br />$38,087.33 <br />2004 Debt Service Fund <br />$71,101.72 <br />$436.71 <br />$0.00 <br />$71,538.43 <br />2006 Debt Service Fund <br />$107,905.65 <br />$628.40 <br />$0.00 <br />$108,534.05 <br />2007 Capital Improvement Bonds <br />$48,476.21 <br />$309.62 <br />$0.00 <br />$48,785.83 <br />Street Improvement <br />$130,014.17 <br />$628.39 <br />$0.00 <br />$130,642.56 <br />Scheuneman Road Improvemetns <br />($54,384.53) <br />($297.13) <br />$0.00 <br />($54,681.66) <br />Hoffman Road Improvements <br />$25,407.68 <br />$138.82 <br />$0.00 <br />$25,546.50 <br />Sewer Enterprise Fund <br />$309,017.96 <br />$1,962.79 <br />$1,826.99 <br />$309,153.76 <br />Investment Trust Fund <br />$4,303.44 <br />$1,488.57 <br />$5,792.01 <br />(S0.00) <br />$992,738.97 <br />$9,239.15 <br />$22,053.63 <br />$979,924.49 <br />Premier Checking <br />Premier CD's <br />Wells Fargo Investments <br />Wells Fargo Money Market <br />$420,912.72 <br />$0.00 <br />$517,680.50 <br />$41,331.27 <br />$979.924.49 <br />