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Se ices
<br /> In .ddition to providing general governmental services, the City provides a full range of other services,
<br /> including (but not limited to) police and fire protection, building and other safety inspections, planning
<br /> anis zoning, economic development, environmental services, parks and recreation, library, street, snow
<br /> re oval, and infrastructure maintenance and repair. The City also provides municipal water, sewer,
<br /> sto water,garbage, and electric services, and operates two off-sale liquor stores.
<br /> Fu ds on Hand(as of June 30,2018)
<br /> General Fund $ 5,835,066
<br /> Special Revenue Funds 4,087,865
<br /> Debt Service Funds 471,849
<br /> Capital Project Funds 14,641,728
<br /> Enterprise Fund 8,875,116
<br /> Agency Funds 1,153,106
<br /> Total Cash and Investments $35,064,730
<br /> In estments
<br /> Th- City has a formal investment policy and all investments are made in accordance with Minnesota
<br /> St.tutes. The primary objectives of the City's investment policy, in priority order, include safety,
<br /> liq idity, return on investment, and maintaining the public's trust. Permitted investments include
<br /> re.urchase agreements, United States securities (excluding high-risk mortgage-backed securities), the
<br /> Mi esota Joint Powers Investment Trust, State and local securities, commercial paper, and time deposits.
<br /> G . anteed investment contracts and reverse repurchase agreements have specifically been excluded from
<br /> the City's investment policy. As per the City's investment policy, the Finance Director shall be
<br /> res.onsible for all transactions undertaken and shall establish a system of controls to regulate the
<br /> act vities of subordinate officials.
<br /> As of June 30,2018,the City had investments totaling$34,352,084 (includes money market funds).
<br /> La'or Contracts
<br /> Th- status of labor contracts in City is as follows:
<br /> No. of Expiration Date
<br /> Bargaining Unit Employees of Current Contract
<br /> LES,Local 231 (Police) 26 December 31, 2018
<br /> LE S, Local 271 (Police Sergeants) 5 December 31,2018
<br /> IUOE,Local 49* 23 December 31,2018
<br /> Su•total 54
<br /> No -unionized employees 94
<br /> To al employees 148
<br /> * Labor contract for street,park, and building maintenance employees.
<br /> - 30 -
<br /> 39
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