City Council Regular Meeting


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  8.C.       
Meeting Date: 08/18/2021  
From: Mary Lagasca

RECOMMENDATION
Receive the report.
DISCUSSION
Article 19, Section (K) of the City Charter requires that a quarterly statement of all funds in the treasury be submitted to the Council.  The Treasurer’s report allows the Council and public to verify that the City’s funds are invested in a safe and prudent manner, and that such investments comply with City policy and state law.  The treasurer’s Report is different from a budget report, as its purpose is to report on cash balances.

This report reflects the City’s balances as of June 30, 2021 and shows that cash and investments held citywide, with a market value of $18,452,578.  All investments are in government securities, certificates of deposit (CD), or other approved investment vehicles.  The maturity dates are laddered, to ensure liquidity. All bank balances are insured. The City does not actively trade either certificates of deposits or federal agency securities but hold investments in the portfolio for maturity.

For this quarter there are no investment maturities or new investment purchases.

Notes:

The average yield on the City’s portfolio for the quarter is 1.32%. This represents a yield rate that is 0.03% less than prior quarter and 0.35% less the same quarter in the prior year.
OPTIONS
This is an informational report.
FINANCIAL IMPACT:
There is no fiscal impact. This is informational only.
  
GOAL ALIGNMENT: Not Applicable.
Attachments
Fourth Quarter Treasurer's Report


    

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