Posted: February 23, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF022824-04

Agenda Item Title:

Acknowledge January 2024 Treasury and General Fund Update

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Staff Contact:
Daniel Ainslie
Council Chambers
Agenda Item Summary:
The attached January 2024 Treasury Report includes a breakdown of the City’s near $227 million in funds. As of the end of January, 73% 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. As of the end of January, the City’s General Fund Undesignated Cash Reserve is $4.6 million. However, it is important to note that this number will decline as the budget is amended to account for carryover projects that were not completed in 2023.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center


Origination Recommendation Action:

Login Form