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Posted: January 24, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF012925-02

Agenda Item Title:

Acknowledge December 2024 Treasury and General Fund Update

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/29/2025
City Council Hearing Date:
02/03/2025
Petitioner:
Finance Office
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The attached December 2024 Treasury Report includes a breakdown of the City’s $210.7 million in funds. As of the end of December, 68.1% 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 $793,094.32 in December. With the completion of the year, the designated designation is removed, this allowed the undesignated General Fund Balance to finish 2024 in a positive position of 11,052,800.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Acknowledge

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