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City treasurer reports healthy balances; CD set to mature Dec. 8
Summary
Treasurer Kurt Niemeyer reported Sept. 2024 balances (ending balance $1,899,425.62) and noted a municipal CD with Falcon matures Dec. 8, 2024; the current CD rate is recorded at 4.96% and staff await a new rate.
The treasurer presented the city's financial summary for Sept. 1–30, 2024: beginning balance $1,806,581.58; total receipts $485,228.17; total disbursed $390,006.84; ending balance $1,899,425.62. After accounting for deposits in transit ($317,039.45) the bank statement total was $2,216,465.07.
Kurt Niemeyer reported that a certificate of deposit at Falcon is set to expire on Dec. 8, 2024; the existing rate was recorded at 4.96% and staff are awaiting Falcon's confirmation of any new rate by email. The council approved the treasurer's report by motion (mover: Danita Traut; second: Tom Vouk).
