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money in July and December from tax settlements, it's not unusual for the City to have a large <br />amount of cash available in those months with the funds being drawn down in the proceeding <br />months. Depending on expenditures and other revenues collect the City may draw on its <br />investments to help meet its cash needs. The chart below demonstrates the cash flow for the <br />City. <br />Cas' E Balances <br />2 50,000.00 <br />200,000.00 <br />1 SO,000.00 <br />1 W.000.00 <br />50,000.00 <br />O.00 <br />2J �r� J <br />�fQ Cao Qt- <br />CONCLUSION <br />201= <br />The City had a typical first quarter of the year financially. Through the first quarter it appears <br />revenues could finish the year above budgeted amounts for most revenue sources, while <br />expenditures may end near or slightly below budgeted amounts. The City has sufficient cash <br />and investments to meet its obligations until the City receives its first tax settlement in July, <br />however investment eamings remains low. So it would appear the City is in good financial <br />shape for 2015. <br />Finally, it is my goal to resume providing quarterly financial reports to the City Council. The goal <br />of the report will be to keep the Council informed on how the City's finances are doing compared <br />to budget and prior years and to inform the Council of any unusual activity. I would welcome <br />any feedback to improve future reports. <br />