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Council accepts quarterly investment reports; bond proceeds and interest totals noted
Summary
Council reviewed and unanimously approved the quarterly investment reports for March 31 and June 30, 2025, including bond proceeds for the water meter project of $5,603,141.98 and investment interest totals of $405,324.58 (Q1) and $430,036.09 (Q2).
City staff presented the quarterly investment and revenue reports for the quarters ending March 31 and June 30, 2025, and council voted unanimously to accept the reports.
Highlights in the presentation included cash interest of $34,673.35 in Q1 and $29,406.55 in Q2; a bond receipt for the water meter project of $5,603,141.98 on March 20, 2025; investment interest totals of $405,324.58 (Q1) and $430,036.09 (Q2); and General Fund YTD revenue of $8,272,306.66 at June 30 (82.79% of the $9,992,063 budgeted amount). Jaime McCabe moved to approve the quarterly investment reports and Michael Stueart seconded; the motion carried unanimously.
Council did not alter budget projections at the meeting and accepted staff's recommendation to file the reports.
