City finance staff reports steady returns; solid/liquid waste fund shows negative unrestricted balance

Finance staff presented the city's monthly investment summary and a high‑level review of fund balances on June 24.

Kayla, who led the briefing, told council that municipal investment options are limited by statute and that returns across local government pools, bank deposits and money markets ranged around the 4.1–4.4% area. She noted the 13‑week Treasury bill benchmark at 4.18% and said the city's portfolio performance was within expectations given the constraints on municipal investments.

Kayla walked council through fund balances: general fund restricted balances were shown at roughly $197 million with approximately $87 million reported as unrestricted (staff cautioned that unrestricted totals reflect current inflows/outflows, not year‑end projections). Water and sewer enterprise funds were reported with restricted balances near $73 million and unrestricted around $66 million. The solid and liquid waste fund was shown with a restricted balance of about $9 million and an unrestricted figure presented as -$2.9 million; staff said that accounting presentation reflects required deferred liabilities (for landfill maintenance and long‑term obligations) and will be examined further.

Council members asked whether funds could be transferred between accounts; staff confirmed transfers are possible within statutory guidelines and that some balances are earmarked for required stabilization (e.g., a 60–90‑day target). The presenter also briefed the council on the composition of investments (CDs, LGIPs) and that the city has been moving toward more digital cash management.

No formal budget decisions were made at the workshop; staff said financial reporting will continue monthly and that additional clarifications on restricted vs. unrestricted balances would be provided.