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Council hears Ehlers investment update and approves July voucher report
Summary
Council received an Ehlers investment presentation that showed maturing securities and interest income could fund a potential City Administrator position without dipping into savings, and approved the July voucher report totaling $365,035.30.
Tammy Olszewski of Ehlers presented the city’s annual investment review and told the Common Council that maturing treasuries and certificates of deposit should provide ample short-term cash flow. Olszewski said Bank of Brodhead has about $225,000 maturing and Ehlers-managed CDs total a little more than $200,000, which together could help fund a proposed City Administrator position without tapping general savings.
The investment presentation framed options for cash flow and timing as council members raised questions about how soon treasuries would mature and whether short-term borrowing or project timing could affect decisions. Alderperson Gritzmaker asked for ballpark maturities; Olszewski supplied the figures above. Mayor Simpson and others discussed sequencing of capital projects in light of cash availability.
On routine finance business, City Treasurer Kristin Covert Miller presented the July voucher report showing a total of $365,035.30 (BID checks $4,397.30; general fund checks $359,086.60; credit card purchases $1,551.40). Alderperson Naramore moved and Alderperson Sauer seconded a motion to accept the voucher report; the council approved it on a roll-call vote.
Why it matters: the presentation gave council members clearer line-of-sight on near-term liquidity and how maturing securities could fund personnel decisions without drawing on reserves. The council’s acceptance of the voucher report finalized payment authority for July expenditures and keeps budget-to-actual tracking on schedule.
Looking ahead: Alderperson Gritzmaker suggested the Finance Committee consider short-term loan options and other cash-management tools at a future meeting; no formal decision was made at Monday’s session.
