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Finance staff flag lower general fund cash, high interest earnings and several near-term filings
Summary
Clerk-Treasurer staff reviewed year-end and January reports, noting a reduced general-fund cash balance, large investment balances carried over from November, interest earnings, and required state filings and deadlines. Staff also raised a payroll Social Security overpayment that needs reconciliation.
Misha, a clerk-treasurer's office staff member, briefed the committee on year-end and January financial reports, telling members the general fund cash balance had fallen to about $5,000,000 in the January close and that one large November transfer of $50,000,000 affected the December/January investment balances.
Misha said total investments reported for December were roughly $61,000,000 and that interest earnings for the period were in the multi-million-dollar range. On the investment…
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