Posted: December 27, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF123124-05

Agenda Item Title:

Acknowledge the November 2024 Treasury and General Fund Update

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
12/31/2024
City Council Hearing Date:
01/06/2025
Petitioner:
Finance Office
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The attached November 2024 Treasury Report includes a breakdown of the City’s $211.6 million in funds. As of the end of November, 76.7% of the City’s available cash is invested in fixed rate instruments as authorized by state statute. The other attachments illustrate the total cash reserves and designated and undesignated balances for the General Fund. The City’s General Fund Undesignated Cash Reserve increased by $3,941,056.13 in November. The undesignated General Fund Balance finished November in a positive position of 2,483,141.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Acknowledge

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