2007 10-16 CCP - Laserfiche WebLink

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construction and architects fees. There is a request for payment from the contractor for approximately $132,000 which will be paid in October The City's Sewer Fund 3`d quarter financial information is as follows: % Received Budget 3`d Qtr Spent Sewer Fund: Revenues $54,578 $41.884 76% Expenses $37,508 $46,543 124% Revenues for the third quarter are at anticipated levels having billed for the third quarter sewer service at the end of September and will be collected during October. Expenses are higher than anticipated, with the major expense was the $23,800 paid for televising the City's sewer lines, which is a one time expense that was not budgeted for and engineering costs higher than anticipated. I would anticipate the Sewer Fund's expenses to finish the year in excess of the budgeted amounts; however, it appears the revenues may come in a bit higher than budgeted which should offset the increased expenses. Finally, the City had $772,992 invested as of September 30, 2007. The investments were comprised of $422,086 in CD's and commercial paper and $350,906 in government money market funds at Wells Fargo. The last page is a listing of all the City's investments The investment schedule includes where the funds came from, the type of investment, interest rate, and the value of each investment. While the schedule shows five CD's the City really only has three CD's, The CD listed from the 2004 Debt Service Fund, 2006 Debt Service Fund and General Fund is one CD, but the accounting system tracks it as three separate CD's because of the funding sources.