STAFF REPORT
Meeting Date: November 07, 2024
To: Honorable Mayor & City Council
From:
Subject:
Howard S. Fisher, City Treasurer
Treasurer’s Report for the Quarter Ended September 30, 2024 Attachments: 1. Fund Summary Schedule
INTRODUCTION
This City Treasurer’s Report for the quarter ended September 30, 2024, includes a summary of investment balances and a listing of the portfolio value by each City fund.
The following is a summary of the activity of the City’s portfolio for the fiscal year’s third quarter:
*Negative amounts presented above in Net Investment Activity generally indicate sales of securities in the portfolio and transfers out of the investment account.
1The ending portfolio balance is presented at cost basis for four current quarters.
In addition to the investment portfolio, the City had $21,475,893 of operating cash on hand as of September 30, 2024, bringing the total cash and investments to $857,126,580 by the end of the fiscal year’s first quarter.
DISCUSSION
The City’s total investment portfolio of $835.6 million at September 30, 2024 included $714.6 million in general portfolio investments and $121.0 million in restricted investments and is in compliance with the City's Investment Policy and Section 115 Trust Investment Guidelines.
Adequate liquidity exists within the portfolio to meet all known short-term City requirements through at least March 31, 2024, and we believe the City will have adequate liquidity to meet all requirements for the foreseeable future based upon existing maturity schedules and the current investment policy.* *As part of required reporting of the City’s unfunded pension and other post-employment benefits (OPEB) liabilities, PERS provides an annual report for the City’s pension liability and the City contracts with an actuarial services firm for the required biennial reports for assessing the OPEB liability.
FISCAL IMPACT
None.
RECOMMENDATION
This report is for information only.
Howard S. Fisher,
City Treasurer
Approved By
Attachment 1