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Funds on Hand(as of January 31, 2021) <br />General Fund $ <br />8,129,009 <br />Special Revenue Funds 4,152,449 <br />Debt Service Funds 8,450,856 <br />Capital Project Funds 33,335,370 <br />Enterprise Fund 13,061,145 <br />Agency Funds ___519,745 <br />Total Cash and Investments $67,648,574 <br />Investments <br />The City has a formal investment policy and all investments are made in accordance with Minnesota <br />Statutes. The primary objectives of the City’s investment policy, in priority order, include safety, liquidity, <br />return on investment, and maintaining the public’s trust. Permitted investments include repurchase <br />agreements, United States securities (excluding high-risk mortgage-backed securities), the Minnesota Joint <br />Powers Investment Trust, State and local securities, commercial paper, and time deposits. Guaranteed <br />investment contracts and reverse repurchase agreements have specifically been excluded from the City’s <br />investment policy. As per the City's investment policy, the Finance Director shall be responsible for all <br />transactions undertaken and shall establish a system of controls to regulate the activities of subordinate <br />officials. <br />As of January 31, 2021, the City had investments totaling $67,231,022 (includes money market funds). <br />Labor Contracts <br />The status of labor contracts in City is as follows: <br />No. of Expiration Date <br />Bargaining Unit Employees of Current Contract <br />LELS, Local 231 (Police)24December 31, 2022 <br />LELS, Local 271 (Police Sergeants)7 December 31, 2021 <br />IUOE, Local 49* 22 December 31, 2021 <br />Subtotal 53 <br />Non-unionized employees 96 <br />Total employees149 <br />* Labor contract for street, park, and building maintenance employees. <br />- 34 - <br />299 <br />