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St. Stephen treasury report: $2.19M balance, CD at 4.04%; Verizon monopole permit issued
Summary
Treasurer Kurt Niemeyer reported an ending balance of $2,191,768.48, a 13‑month CD balance of $62,860.80 at 4.04% and noted Verizon’s monopole permit has been issued after the company paid in full; mowing cost comparisons showed local savings this year.
City Treasurer Kurt Niemeyer presented the city’s financial report for the period ending Nov. 5, 2025. The reported beginning balance was $2,191,204.87; total receipts for the period were $17,612.10 and total disbursed $17,048.49, producing an ending balance of $2,191,768.48. "Interest earned on the 13‑month CD for the 3rd quarter of 2025 were $633.50," Niemeyer said, adding the CD’s current balance is $62,860.80 at a 4.04% rate and business savings interest for Q3 was $64.84.
Niemeyer also summarized recent operational expenses: J&A mowed 19 times in 2024 for $13,510 while Huls mowed 20 times in 2025 for $11,385 (including six maintenance building trips); the minutes estimate that had J&A matched Huls' service the city would have paid about $2,725 more. He reported the Verizon monopole permit has been issued after Verizon paid its fees, and he is preparing for the workers' compensation audit. Council approved the treasurer’s report on a motion recorded in the minutes.
