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Agenda Subject: 2nd Quarter 2015 Financial Report Date: 08/11/2015 <br /> <br /> <br /> <br /> <br /> <br />Enterprise Funds: <br />The City’s seven enterprise funds account for operations with revenues primarily provided from user fees, <br />charges or contracts for services. <br /> <br />At the end of the second quarter, the Water fund had operating income of $110,400 compared to <br />operating income of $273,800 in 2014. The Sewer fund ended the quarter with a net loss of $17,000 <br />compared to income of $81,000 in 2014. The Sewer-Metro Utility ended the period with an operating loss <br />of $174,000 compared to operating income of $1,303,100 in the previous year. Lastly, the Stormwater <br />Utility ended the quarter with operating income of $692,300 which compares to operating income of <br />$759,200 in 2014. <br /> <br />The Cemetery ended the second quarter with net operating income of $68,200 compared to an operating <br />loss of $28,000 in 2014. <br /> <br />Internal Service Funds: <br />Internal Service Funds provide services to other City departments and include functions such as <br />Insurance, Worker’s Compensation, Facilities, Innovation and Technology, and Equipment Rental. All <br />funds have sufficient revenues to cover year-to-date expenditures. <br /> <br />Investment Portfolio: <br />The City’s total cash and investments at the end of Q2-2015 was $121.9, and compares to $118.3 million <br />at the end of Q1-2015. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> Reviewed by Council & Committees: Reviewed by Departments & Divisions: Arts Commission COUNCIL COMMITTEES: Building M&O Airport Finance Cemetery Mayor Hearing Examiner Municipal Serv. Finance Parks Human Services Planning & CD Fire Planning Park Board Public Works Legal Police Planning Comm. Other Public Works Human Resources Information Services <br />Action: Committee Approval: Yes No <br />Council Approval: Yes No Call for Public Hearing ___/___/____ <br />Referred to _________________________________ Until ____/___/____ Tabled ______________________________________ Until ___/___/____ <br /> <br />Councilmember: Wales Staff: Coleman <br />Meeting Date: August 24, 2015 Item Number: <br /> <br />2