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Finance director reports third-quarter finances; city received $25.6M from PFA for WERF project
Summary
The city reported $96.7M in cash and investments at third quarter, $34.3M on hand, and receipt of $25.6M from the PFA tied to the WERF project. Staff reviewed revenue and expenditure trends across general fund and utilities and noted capital spending and timing considerations for GO issuance.
City staff presented the third-quarter financial report on Nov. 10, reporting $96,723,000 in cash and investments and $34,300,000 available on hand. The finance presentation noted the city recently received $25,600,000 from the Public Facilities Authority related to the WERF project and that restricted ARP dollars of $472,000 remain earmarked for the meter…
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