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Fort Thomas staff reviews monthly financial report; general fund, debt and insurance balances explained
Summary
Finance staff reviewed the September balance sheet and fund-level summaries, reporting general‑fund cash and investments, receivables, deferred revenues, and details on debt‑service and health‑insurance funds. Staff noted timing effects that created a year‑to‑date loss in early months and proposed rebalancing the health insurance reserve.
During the council meeting staff presented the monthly financial reports and walked through fund‑by‑fund balances and timing impacts on year‑to‑date results.
Linda gave the presentation and provided headline figures for the general fund: "total cash and investments of $11,995,000. You have receivables of $3,100,000." (Linda, 00:49:43)
She explained timing effects that produce an apparent net loss early in the fiscal year: transfers to other funds and yearly insurance payments fall at the start of the fiscal year…
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