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Capitola treasurer reports tight summer cash flow; staff outlines short-term options
Summary
Finance staff told the council the city's cash balances run lowest from July through December due to timing of revenues and large early-year expenditures; staff cited grant reimbursement lags, a negative CIP position and potential options including spreading CalPERS payments or issuing short-term notes.
Capitola city staff on Oct. 9 presented a monthly treasurer’s report and cash-position update showing seasonal cash pressure in the first half of the fiscal year and several project-specific reimbursement lags.
Staff explained the city typically runs its lowest cash balances from July through December because major revenue streams such as sales tax and transient-occupancy tax lag the months in which the activity occurs. On the expenditure side, the city pays significant costs early in the fiscal year, including insurance and a large CalPERS unfunded-accumulated-liability…
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