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Finance report: general fund down after ARPA and capital spending; investments laddered, ARPA near closeout
Summary
City finance staff reported that general-fund cash is roughly $3 million below last year primarily due to ARPA-supported capital projects; investments are laddered with a current portfolio yield about 3.4%; ARPA obligations are largely spent with staff proposing repurposing a small remaining balance if needed.
Finance staff presented the city’s quarterly financial position and said that, relative to the prior year, the general fund cash balance is about $3 million lower primarily because ARPA and capital projects (North Fire Station, Frontier Center) have been spent down.
Investments: the treasury described a laddered portfolio that prioritizes safety and liquidity, with a current overall yield…
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