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HomeMy WebLinkAbout2018-12 Financial ReportTOWN OF ITHACA FINANCIAL REPORTS FOR THE MONTH ENDED DECEMBER 31, 2018 REPORTS: BALANCE SHEET REVENUE & EXPENSE SUMMARY and CASH & CASH EQUIVALENTS DETAILED CASH LISTING FOR FIDUCIARY FUNDS SUMMARY OF BANK COLLATERAL TOWN OF ITHACA BALANCE SHEET FOR THE MONTH ENDED DECEMBER 31, 2018 GENERAL GENERAL HIGHWAY HIGHWAY lA/ATCD CPWCD DESCRIPTION TOWNWIDE PART-TOWN TOWNWIDE PART-TOWN WA1 cn ocWcri FUND FUND FUND FUND FUND FUND ASSETS UNRESERVED CASH: CASH $ 3,466,290 $ 1,237,957 $ 278,379 $ 2,186,706 $ 2,805,281 $ 2,734,131 INVESTMENTS ----.- PETTY CASH 700 --200 -- TOTAL - UNRESERVED CASH $ 3,466,990 $ 1,237,957 $ 278,379 $ 2,186,906 $ 2,805,281 $ 2,734,131 RESERVED CASH: PARKS & OPEN SPACE PLAN $ 832,626 $$$$$ GENERAL PURPOSE BENEFIT 165,628 69,468 -79,412 23,838 12,046 HIGHWAY EQUIPMENT ---283,905 -- PRESERVE MAINTENANCE 40,173 ----. LAND STEWARDSHIP 9,752 --.-_ INVESTMENTS ---... FIDUCIARY FUNDS 4,426 ----- TOTAL - RESERVED CASH $ 1,052,605 $ 69,468 $$ 363,317 $ 23,838 $ 12,046 OTHER ASSETS: ACCOUNTS RECEIVABLE $$$$$$ WATER & SEWER RECEIVABLES ---225,677 332,020 DUE FROM OTHER FUNDS ---.. STATE & FEDERAL AID RECEIVABLE ----. DUE FROM OTHER GOV'TS -29,400 -24,737 - PREPAID EXPENSES 64,826 27,517 6,747 22,556 6,844 3,913 TAXES RECEIVABLE - CURRENT -----. TOTAL - OTHER ASSETS $ 64,826 $ 56,917 $ 6,747 $ 22,556 $ 257,257 $ 335,933 TOTAL ASSETS $ 4.584.421 $ 1.364.342 $ 285.126 $ 2.572.779 $ 3.086.377 $ 3.082.111 LIABILITIES and FUND BALANCE ACCOUNTS PAYABLE $$$$$$ ACCRUED LIABILITIES 231,926 194,262 319 104,171 11,986 148,124 DUE TO OTHER FUNDS ---.-- RETAINAGE ----- DEFERRED REVENUE ------ RESERVED FUND BALANCE 1,052,605 69,468 -363,317 23,838 12,046 UNRESERVED FUND BALANCE 3,299,890 1,100,613 284,807 2,105,291 3,050,552 2,921,940 TOTAL LIABILITIES & FUND BALANCE $ 4.584.421 $ 1.364.342 $ 285.126 $ 2.572.779 $ 3.086.377 $ 3.082.111 ESTIMATED FUND BALANCE FUND BALANCE - 01/01/2018 $ 3,997,002 $ 1,072,768 $$ 2,267,511 $ 2,820,416 $ 2,763,256 Add: REVENUE 4,498,608 1,584,870 974,307 3,273,728 4,149,279 2,797,055 LESS: EXPENSE 4,143,115 1,487,558 689,500 3,072,631 3,895,305 2,626,325 FUND BALANCE -12/31/2018 $ 4.352.496 $ 1.170.081 $ 284.807 $ 2.468.608 $ 3.074.390 $ 2.933.986 Page 1 of 4 TOWN OF ITHACA BALANCE SHEET FOR THE MONTH ENDED DECEMBER 31, 2018 CAPITAL RISK FIRE LIGHTING DEBT TRUST & DESCRIPTION PROJECTS RETENTION PROTECTION DISTRICT SERVICE AGENCY FUNDS FUND FUND FUNDS FUND FUND ASSETS UNRESERVED CASH: CASH $ 1,042,403 $ 149,222 $ 2,346,587 $ 14,765 $ 98,165 $ INVESTMENTS ----- PETTY CASH ------ TOTAL - UNRESERVED CASH $ 1,042,403 $ 149,222 $ 2,346,587 $ 14,765 $ 98,165 $ RESERVED CASH: PARKS & OPEN SPACE PLAN $$$$$$ GENERAL PURPOSE BENEFIT ---- HIGHWAY EQUIPMENT n ----- PRESERVE MAINTENANCE ---.- LAND STEWARDSHIP ---.. FUNDS FOR BOND REFUNDING ----- FIDUCIARY FUNDS ----314,967 TOTAL - RESERVED CASH $$$$$$ 314,967 OTHER ASSETS: ACCOUNTS RECEIVABLE $$$$$$ CUSTOMER RECEIVABLE ---- DUE FROM OTHER FUNDS ----. STATE & FEDERAL AID RECEIVABLE ----- DUE FROM OTHER GOVTS 126 --.- PREPAID EXPENSES ----- TAXES RECEIVABLE - CURRENT ----- TOTAL - OTHER ASSETS $ 126 $$$$$ TOTAL ASSETS $ 1.042,528 $ 149.222 $ 2.346.587 $ 14.765 $ 98,165 $ 314.967 LIABILITIES and FUND BALANCE ACCOUNTS PAYABLE $$$$$$ ACCRUED LIABILITIES -----314,967 DUE TO OTHER FUNDS ------ RETAINAGE 8,361 ----- DEFERRED REVENUE ------ RESERVED FUND BALANCE ------ UNRESERVED FUND BALANCE 1,034,167 149,222 2,346,587 14,765 98,165 - TOTAL LIABILITIES & FUND BALANCE $ 1.042.528 $ 149.222 $ 2.346.587 $ 14.765 $ 98.165 $ 314.967 ESTIMATED FUND BALANCE FUND BALANCE - 01/01/2018 $ (1,454,426)$ 151,706 $ 2,078,828 $ 8,809 $ 228,128 $ Add: REVENUE 4,250,808 15,160 3,280,530 19,022 1,208,748 - Less: EXPENSE 1,762,215 17,644 3,012,771 13,065 1,338,710 - FUND BALANCE -12/31/2018 $ 1.034.167 $ 149.222 $ 2.346.587 $ 14.765 $ 98.165 8 Page 2 of 4 TOWN OF ITHACABALANCE SHEET for CAPITAL PROJECTSFOR THE MONTH ENDED DECEMBER 31, 2018.,ACTlVE;:CAPrTAL,PROJECTS:.CLOSEDiCAPnrAI^PROJECTSFUND H7FUND H8FUND H9FUND H10FUND H11FUND HI2FUND H13FUND H21TOTALDESCRIPTIONRoute 96BGateway TrailTrumansburgEllis HollowPark LaneSapsucker WdsChristopher CirSand Bank RdCAPITALSidewalk(Grant Funding)Water TankWater TankWater MainWater MainWater MainImprovementsPROJECTSASSETSUNRESERVED CASH:CASH$120,820$72,502$ 7,982$427,359$37,398$9,082$6,395$360,866$$$1,042,403INVESTMENTS-----------TOTAL - UNRESERVED CASH$120,820$72,502$ 7,982$427,359$37,398$9,082$6,395$360,866$$$1,042,403OTHER ASSETS:ACCOUNTS RECEIVABLE$$_$$_$$_$$$$$_CUSTOMER RECEIVABLE--.DUE FROM OTHER FUNDS---STATE/FEDERAL RECEIVABLE---DUE FROM OTHER GOV'TS126.126PREPAID EXPENSES---BAN LOANS---TOTAL - OTHER ASSETS$$126$$$$-$$$$$126ITOTAL ASSETS120,820 $ 72,627 $7,982 $ 427,359 $37,398 $9,082 $6,395 $ 360,866 $$ 1,042,528 IUABILITIES & FUND BALANCEACCOUNTS PAYABLEACCRUED LIABILIITESDUE TO OTHER FUNDSRETAINAGEBAN PAYABLERESERVED FUND BALANCEUNRESERVED FUND BALANCEITOTAL LIAB & FUND BALANCE- $120,820- $72,6277,982427,3598,36129,037- $9,082- $6,395360,866- $8,3611,034,167$ 1,042.52in120,820 $ 72,627 $7,982 $ 427,359 $37,398 $9,082 $6,395 $ 360,866 $ESTIMATED FUND BALANCEFUND BALANCE - 01/01/2018Add: REVENUELess: EXPENSEIFUND BALANCE -12/31/201895,505 $ 72,546 $ (698,786) $ • $ (465,621) $ (456,134) $ (362,399) $ 360,462 $100,136 81 711,009 2,100,147 500,017 468,009 371,006 40474,821 - 4,241 1,672,788 5,360 2,793 2,212- $$ (1,454,426)4,250,8081,762,215$ 120.820 $ 72,627 $7.982 $ 427,359 $29.037 $9.082 $6.395 $ 360.866 $- $- $ 1.034.167 IPage 3 of 4 TOWN OF ITHACABALANCE SHEET for LIGHT DISTRICTSFOR THE MONTH ENDED DECEMBER 31, 2018FUND SL-1FUND SL-2FUND SL-3FUND SL-4FUND SL-5FUND SL-6FUND SL-7FUND SL-8FUND SL-9TOTALDESCRIPTIONForestGlensldeRenwickEastwoodClover LaneWinner'sBurleighWesthavenCoddlngtonLIGHTHomeHeightsCommonsCircleDriveRoadRoadDISTRICTSASSETSUNRESERVED CASH:CASHINVESTMENTSTOTAL - UNRESERVED CASHOTHER ASSETS:ACCOUNTS RECEIVABLECUSTOMER RECEIVABLEDUE FROM OTHER FUNDSSTATE & FEDERAL AID RECEIVABLEPREPAID EXPENSESTAXES RECEIVABLE - CURRENTTOTAL - OTHER ASSETS5,703 $5,703 $1,021 $863 $ 1,456 $207 $441 $898 $ 2,427 $ 1,749 $ 14,7651,021 $$863 $ 1,456 $207 $ 441 $ 898 $ 2,427 $ 1,749 $ 14,765S " $ n $- $ITOTAL ASSETS5.703 $ 1,021 $863 $ 1.456 $207 $441 $898 $ 2.427 $ 1.749 $ 14.765 |UABILITIES and FUND BALANCEACCOUNTS PAYABLEACCRUED LIABILIITESDUE TO OTHER FUNDSDEFERRED REVENUERESERVED FUND BALANCEUNRESERVED FUND BALANCEITOTAL LIABILITIES & FUND BALANCE"5,7031,0218631,456- $207- $441898- $2,4271,74914,7655.703 $ 1.021 $863 $ 1.456 $207 $441 $898 $ 2.427 $ 1.749 $ 14.765 |ESTIMATED FUND BALANCEFUND BALANCE - 01/01/2018Add: REVENUELess: EXPENSE1,790 $6,3062,392899 $1,002880757 $1,2021,0951,066 $2,6032,213168 $300262341 $901802691 $1,1018941,764 $3,5042,8411,331 $2,1031,6858,80919,02213,065I FUND BALANCE - 12/31/20185.703 $1.021 $863 $ 1.456 $207 $441 $ 898 $ 2.427 $ 1.749 S 14.765 |Page 4 of 4 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY FOR THE MONTH ENDED DECEMBER 31, 2018 DESCRIPTION GENERAL TOWNWIDE FUND GENERAL PART-TOWN FUND HIGHWAY TOWNWIDE FUND HIGHWAY PART-TOWN FUND WATER FUND SEWER FUND REVENUE BUDGETED REVENUE ACTUAL & ACCRUED $ 4,560,781 4,498,608 $ 1,543,150 1,584,870 $ 810,750 974,307 $ 3,171,750 3,273,728 $ 4,331,208 4,149,279 $ 2,663,584 2,797,055 REVENUE OVER (UNDER)$ (62,173)$ 41,720 $ 163,557 $ 101;978 $ (I81i929)•S 133^1 % OF BUDGET EARNED EXPENSE BUDGETED EXPENSE ACTUAL & ACCRUED 98.6% $ 5,003,206 4,143,115 102.7% $ 1,894,070 1,487,558 120.2% $ 773,185 689,500 103.2% $ 3,490,313 3,072,631 95.8% $ 4,290,519 3,895,305 105.0% $ 3,302,208 2,626,325 i m 1 i i $ ; (860,092)$: (4061512).$ (83.685)1 $ . :t6S^5^883) % OF BUDGET EXPENDED ESTIMATED FUND BALANCE FUND BALANCE - 01/01^018 Actual & Accrued Add: REVENUE Less: EXPENSE 82.8% $ 3,997,002 4,498,608 4,143,115 78.5% $ 1,072,768 1,584,870 1,487,558 89.2% $ 974,307 689,500 88.0% $ 2,267,511 3,273,728 3,072,631 90.8% $ 2,820,416 4,149,279 3,895,305 79.5% $ 2,763,256 2,797,055 2,626,325 FUND BALANCE-12^1/2018 $ 4,352,496 $ 1.170.081 $ 284,807 $ 2,468,608 $ 3,074,390 $ 2,933^986 CASH and CASH EQUIVALENTS UNRESERVED CASH CASH (CHECKING/SAVINGS) CASH - SJC OPERATING INVESTMENTS PETTY CASH TOTAL - UNRESERVED CASH RESERVED CASH PARKS & OPEN SPACE PLAN GENERAL PURPOSE BENEFIT HIGHWAY EQUIPMENT PRESERVE MAINTENANCE LAND STEWARDSHIP INVESTMENTS FIDUCIARY FUNDS TOTAL - RESERVED CASH $ 3,466,290 700 $ 1,237,957 $ 278,379 $ 2,186,706 200 $ 2,805,281 $ 1,221,336 1,512,796 $ 3,466,990 $ 832,626 165,628 40,173 9,752 4,426 $ 1,237,957 $ 69,468 $ 278,379 $ $ 2,186,906 ' 79,412 283,905 $ 2,805,281 $ 23,838 $ 2,734,131 ' 12,04^ $ 1,052,605 $ 69,468 $$ 363,317 $ 23,838 $ 12,046 TOTAL CASH -12/31^018 $ 4.519.595 $ 1.307.425 $ 278.379 6 2.550.223 $ 2.829.119 S 2.746.177 Page 1 of 4 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY FOR THE MONTH ENDED DECEMBER 31, 2018 DESCRIPTION CAPITAL PROJECTS FUNDS RISK RETENTION FUND FIRE PROTECTION FUND LIGHTING DISTRICT FUNDS DEBT SERVICE FUND TRUST & AGENCY FUND REVENUE BUDGETED REVENUE ACTUAL & ACCRUED $ 4,100,000 4,250,808 $ 15,000 15,160 $ 3,274,000 3,280,530 $ 19,000 19,022 $ 1,208,144 1,208,748 $ REVENUE OVER 1UNDER)$ 150,808 $ : 160 $ 6,530 $ 22 $ 604 $ % OF BUDGET EARNED EXPENSE BUDGETED EXPENSE ACTUAL & ACCRUED 103.7% $ 2,118,000 1,762,215 101.1% $ 15,000 17,644 100.2% $ 3,382,500 3,012,771 100.1% $ 17,850 13,065 100.0% $ 1,341,144 1,338,710 $ EXPENSllOVEBstUNDERI : ' ,$ (355,785)$ 2,$44 $ ;(369,729)$ ..(4,785)$ i(2.434)$- \ 1; .W' % OF BUDGET EXPENDED ESTIMATED FUND BALANCE FUND BALANCE - 01/01^018 Actual & accrued Add: REVENUE Less: EXPENSE 83.2% $ (1,454,426) 4,250,808 1,762,215 117.6% $ 151,706 15,160 17,644 89.1% $ 2,078,828 3,280,530 3,012,771 73.2% $ 8,809 19,022 13,065 99.8% $ 228,128 1,208,748 1,338,710 $ FUND BALANCE -12^1^018 $ 1,034,167 $ 149,222 $ 2,346,587 $ 14,765 $ 98,165 $ CASH and CASH EQUIVALENTS UNRESERVED CASH CASH (CHECKING/SAVINGS) CASH - SJC OPERATING INVESTMENTS PETTY CASH TOTAL - UNRESERVED CASH RESERVED CASH PARKS & OPEN SPACE PLAN GENERAL PURPOSE BENEFIT HIGHWAY EQUIPMENT PRESERVE MAINTENANCE LAND STEWARDSHIP FUNDS FOR BOND REFUNDING FIDUCIARY FUNDS TOTAL - RESERVED CASH $ 1,042,403 $ 149,222 $ 2,346,587 $ 14,765 $ 98,165 $ $ 1,042,403 $ $ 149,222 $ $ 2,346,587 $ $ 14,765 $ $ 98,165 $ $ $ 314,967 $$$$$$ 314,967 TOTAL CASH-12^1^018 $ 1,042,403 $ 149,222 $ 2,346,587 $ 14,765 $ 98,165 $ 314,967 Page 2 of 4 TOWN OF ITHACAREVENUE and EXPENSE SUMMARY for CAPITAL PROJECTSFOR THE MONTH ENDED DECEMBER 31, 2018CLOSED; CAPrrALPROJECTSFUNDH7FUND MBFUND H9FUND HIDFUNDH11FUND HI 2FUND H13FUND H21TOTALDESCRIPTIONRoute 96BGateway TrailTrumansburgEllis HollowPark LaneSapstickerChristopherSand Bank RdCAPITALSidewalk(Grant Funding)Water TankWater TankWater MainWater MainWater MainImprovementsPROJECTSREVENUEBUDGETED REVENUE$$$ 705,000$ 2,100,0008 470,0008 460,000$ 365,000$$$$ 4,100,000ACTUAL & ACCRUED100,13681711,0092,100,147500,017468,009371,006404--4,250,808IREVENUE OVER (UNDER)$ 100.136$ 81$ . 6.009$ 1478 30.0178 . 8.0098 6.0068^ 4048..8 .8 150.808 1% OF BUDGET EARNED0.0%0.0% 1100.9% 11 100.0% 11 106.4% 11 101.7% 11 101.6% 11 0.0%0.0%0.0%0.0%EXPENSEBUDGETED EXPENSE$$$ 6,250$ 2,100,0008 4,250$ 4,2508 3,2508$$$ 2,118,000ACTUAL & ACCRUED74,821-4,2411,672,7885,3602,7932,212---1,762,215lEXPeN^SEfOVERTfUNDERV8; M;(2-009V"8; . (427:212)^:8 1.1108 ^ ,(1^457).'8 '(i;038)8 .8 "(^55:785)1% OF BUDGET EXPENDED0.0%0.0% 167.9% 11 79.7% !1 126.1%65.7%68.1% 11 0.0%0.0%0.0%0.0%ESTIMATED FUND BALANCEFUND BALANCE - 01/01/2018$ 95,505$ 72,546$ (698,786) $8 (465,621)$ (456,134) 8 (362,399)$ 360,462$$$ (1,454,426)Actual & AccruedAdd: REVENUE100,13681711,0092,100,147500,017468,009371,006404--4,250,808Less: EXPENSE74,821-4,2411,672,7885,3602,7932,212---1,762,215$ 120.820 $ 72.627 $ 7.982 $ 427,359 $ 29.037 $9.082 $6.395 $ 360.866 $n $- $ 1.034.16711CASH andCASH EQUiVALENTSCASH (CHECKING/SAVINGS) $ 120,820 $ 72,502 $ 7,982 $ 427,359 $ 37,398 $ 9,082 $ 6,395 $ 360,866 $INVESTMENTS|TOTALCASH^2/31/2018 $ 120.820 $ 72.502 $ 7>982 $ 427.359 $ 37;398 $ 9^082 $ 6.395 $ 360.866^- $- $ 1,042,403- $ 1.042;403Page 3 of 4 TOWN OF ITHACAREVENUE and EXPENSE SUMMARY for LIGHT DISTRICTSFOR THE MONTH ENDED DECEMBER 31, 2018DESCRIPTIONFUNDSL-1ForestHomeFUND SL-2GlensideFUND SL-3RenwickHeightsFUND SL-4EastwoodCommonsFUND SL-5Clover LaneFUNDSL-6Winner'sCircleFUNDSL-7BurleighDriveFUND SL-8WesthavenRoadFUND SL-9CoddlngtonRoadTOTALLIGHTDISTRICTSREVENUEBUDGETED REVENUE$ 6,300$ 1,000$ 1,200$ 2,600$300$ 900$ 1,100$ 3,500$ 2,100$ 19,000ACTUAL & ACCRUED6,3061,0021,2022,6033009011,1013,5042,10319,022iREVENUEtOVERfUNDER)$ 6toOC$• .0$ 1$ 1$ 48 3$ 22 1% OF BUDGET EARNED100.1%100.2%100.1%100.1%100.1%100.1%100.1%100.1%100.1%100.1%EXPENSEBUDGETED EXPENSEACTUAL & ACCRUED5,000 $2,39242.6081 S1,150 $ 1,300 $ 2,500 $ 300 $ 850 $ 1,150 $ 3,400 $ 2,200 $ 17,850880 1,095 2,213 262 802 894 2,841 1,685 13,065% OF BUDGET EXPENDED47.8%76.5%84.3% 88.5% 87.3%94.3%77.8%83.6% 76.6% 73.2%ESTIMATED FUND BALANCEFUND BALANCE - 01/01/2018$ 1,790 $899 $757 $ 1,066 $ 168 $341 $691 $1,764 $ 1,331 $ 8,809Actual & AccruedAdd: REVENUE6,3061,0021,202 2,603 3009011,1013,504 2,103 19,022Less: EXPENSE2,3928801,095 2,213 2628028942,841 1,685 13,0655863 $ 1.703 $ 1.021 8.456 $207 $441 $ 898 $ 2.427 $ 1.749 $ 14.765 |CASH andCASH EQUIVALENTSCASH (CHECKING/SAVINGS) $ 5,703 $ 1,021 $ 863 $ 1,456 $ 207 $ 441 $ 898 $ 2,427 $ 1,749 $ 14,765INVESTMENTS[TOTAL CASH-12/31/2018 $ 5.703 $ 1.021 $ 863 $ 1.456 S 207 S 441 S 898 S 2.427 S 1.749 S 14.765 IPage 4 of 4 TOWN OF ITHACA DETAILED CASH LISTING - FIDUCIARY FUNDS FOR THE MONTH ENDED DECEMBER 31, 2018 DESCRIPTION AMOUNT TRUST & AGENCY FUND TA200C DISBURSEMENTS CHECKING $- TA200P PAYROLL CHECKING 8,339.10 TA202 ON-LINE COLLECTIONS 3,436.91 TA205 ROAD USE AGREEMENTS 31,436.20 TA206 ITHACA TOWERS OPTION ESCROW 11,886.45 TA207 UNCLAIMED BAIL - ITHACA TOWN COURT 3,400.18 TA209 EMPLOYEE FLEXIBLE SPENDING 16,426.45 TA210 STORMWATER COALITION 68,247.26 TA211 PLANNING DEPOSITS 89,112.31 TA212 CAYUGA LAKE WATERSHED INTERMUNICIPAL ORG 49,835.06 TA214 LAKE VIEW CEMETERY - PERMANENT MAINT FUND 21,331.01 TA215 LAKE VIEW CEMETERY - FERRIS MEMORIAL FUND 11,515.94 TOTAL CASH: TRUST & AGENCY FUND $314,966.87 GENERAL TOWNWIDE FUND A237 INLET VALLEY CEMETERY $4,425.51 TOTAL CASH: FIDUCIARY FUNDS $319,392.38 { $30,436.00 1,000.00 0.20 $31,436.20 $1,750.00 1,400.00 250.00. 0.18 $3,400.18 $4,510.32 4,601.43 30,000.00 50,000.00 0.56 $89,112.31 Road Use Agreements: Conifer Realty - Cayuga Meadows RUA Jeff Simmons -120 Maple Avenue Accrued Interest - transfer to General Fund Total - Road Use Agreements Unclaimed Ball - Ithaca Town Court: TB Resolution No. 2016-166, adopted 12/12/2016 TB Resolution No. 2017-075c, adopted 6/26/2017 TB Resolution No. 2018-147, adopted 11/19/2018 Accrued Interest - transfer to General Fund Total - Unclaimed Ball - Ithaca Town Court Planning Deposits: Nextel Site Lease Deposit Wireless One Site Lease Deposit Maplewood Traffic Calming Deposit (Rec. 3/19/18) Maplewood Window Deposit (Rec. 8/15/18) Accrued Interest - transfer to General Fund Total - Planning Deposits Exp. 12/26/2022 Exp. 6/26/2023 Exp. 10/09/2024 TOWN OF ITHACA SUMMARY OF BANK COLLATERAL FOR THE MONTH ENDED DECEMBER 31, 2018 TOMPKINS TRUST COMPANY: CASH & CASH EQUIVALENTS $17,154,625 INVESTMENTS - TOTAL CASH ON DEPOSIT $17,154,625 LESS: FDIC INSURANCE $250,000 LESS: FMV OF COLLATERAL ON DEPOSIT @ 11/30/2018 U.S. GOVERNMENT AGENCY OBLIGATIONS $18,904,500 OVER (UNDER) COLLATERALIZED $ 1,999,875 CASH ASSETS COLLATERALIZED @ FWIV11/30/2018 112% Collateral is held by the Bank of New York, pledged for the Town of Ithaca, New York, for all deposits and/or repurchase agreements of Tompkins Trust Company. NOTE: For deposits in excess of FDIC coverage, General Municipal Law, section 10 requires that the excess amounts are to be secured by eligible collateral.