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Revenues for the first quarter are slightly below anticipated levels. This is because the budgeted SAC fees and late charges are included in the budget as an annual amount and collections on the first quarter billing are slower than anticipated. Expenses are actually lower than anticipated, however, there are substantial expenditures budgeted for sewer line maintenance and repair that will occur in the ensuing months. These budgeted costs in addition to the MCES charges make up the bulk of the expenditure budget. Finally, the City had cash and investments of $793,321 invested as of March 315t. The table below shows the City's cash and investments by fund. CITY OF GEM LAKE CASH AND INVESTMENT BALANCE STATEMENT As of 03/31/10 Fiscal Year: 2010 Cash and Investments Balance Balance Name of Fund 03/01/2010 Receipts Disbursements 03/31/2010 General Fund $259,410.21 $4,284.66 $14,280.32 $249,414.55 Parks and Playgrounds $36,748.05 $314.01 $0.00 $37,062.06 2004 Debt Service Fund $110,804.34 $1,022.28 $0.00 $111,826.62 2006 Debt Service Fund $120,846.70 $1,084.77 $0.00 $121,931.47 2007 Capital Improvement Bonds $49,671.21 $495.57 $0.00 $50,166.78 Street Improvement $0.00 $0.00 $0.00 $0.00 City Hall Construction $0.00 $0.00 $0.00 $0.00 Scheuneman Road Improvemetns ($83,261.21) ($711.32) $0.00 ($83,972.53) Hoffman Road Improvements $25,674.55 $219.39 $0.00 $25,893.94 Sewer Enterprise Fund $280,625.74 $2,382.72 $2,010.62 $280,997.84 Investment Trust Fund $0.00 $0.00 $0.00 $0.00 $800,519.59 $9,092.08 $16,290.94 $793,320.73 Premier Checking $489,064.81 Premier CD's $37,149.45 Wells Fargo Investments $265,000.00 Wells Fargo Money Market $2,106.47 $793,320.73 j