STAFF REPORT
Meeting Date: August 5, 2025
To: Honorable Mayor & City Council
From: Howard S. Fisher, City Treasurer
Subject: Treasurer’s Report for Quarter Ended June 30, 2025 Attachments: 1. Fund Summary Schedule
INTRODUCTION
This City Treasurer’s Report for the quarter ended June 30, 2025, 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 fourth quarter:
BNY Mellon / Wells
Fargo Bank
CalTrust / Local
Agency Investment
Fund
U.S. Bank
(Bond Reserves)
Schwab
(Section 115 Trust)
Beginning 3/31/2025 @ Cost 640,317,822 150,725,352 8 128,391,501 919,434,684 Net Investment Activity * (12,456,888) 35,000,000 (8) 2,641,447 25,184,551 Plan Expenses & Payments to Retirees - - - (8,327,738) (8,327,738) Income 6,884,417 1,900,804 - 1,312,151 10,097,373
Ending 06/30/25 @ Cost 634,745,352 187,626,157 - 124,017,362 946,388,870 FY25 Unrealized Gain/Loss 6,824,427 126,235 - 7,574,571 14,525,233 Ending 06/30/25 @ FMV 641,569,779 187,752,391 - 131,591,933 960,914,103 Net Investment Activity * 7,346,576 95,000,001 - 2,555,083 104,901,660 Plan Expenses & Payments to Retirees - - - (1,579,675) (1,579,675) Income 6,631,767 1,042,434 - 1,706,011 9,380,211
Ending 03/31/25 @ Cost 640,317,822 150,725,352 8 128,391,501 919,434,684 Net Investment Activity * 1,044,336 (41,898,755) - 2,557,770 (38,296,650) Plan Expenses & Payments to Retirees - - - (983,799) (983,799) Income 6,233,367 1,018,123 - 3,110,760 10,362,250
Ending 12/31/24 @ Cost 626,339,480 54,682,918 8 125,710,083 806,732,488 Net Investment Activity * (18,006,565) (39,966,310) - 2,556,123 (55,416,752) Plan Expenses & Payments to Retirees - - - (816,011) (816,011) Income 6,713,918 1,586,152 - 2,763,546 11,063,615
Ending 09/30/24 @ Cost 619,061,778 95,563,550 8 121,025,351 835,650,687 Total Portfolio
General Portfolio Restricted Portfolio
Q1 FY24/25
Period Covered
Q2 FY24/25
Q3 FY24/25
Q4 FY24/25
1 1
1 1
1 *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 $43,896,477 of operating cash on hand as of June 30, 2025, bringing the total cash and investments to $1,004,810,580 by the end of the fiscal year’s fourth quarter.
DISCUSSION
The City’s total investment portfolio of $960.9 million at June 30, 2025 included $829.3 million in general portfolio investments and $131.6 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 December 31, 2025, 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
FUND SUMMARY (continued)
Book Value General Portfolio Bank of New York $ 639,552,263 Fund Type Title Balance Book Value Cal Trust 113,092,706 Internal Service Funds '600 Infrastructure Fund $ 60,128,890 Book Value Wells Fargo - Stagecoach Sweep 2,017,516 '405 Capital Assets Fund $ 62,331,796 Book Value State Controllers Local Agency Investment Fund (LAIF) 74,659,685 '400 Equipment Replacement Fund $ 17,880,015 City Treasurer's Portfolio 829,322,170 '410 Information Technology Fund $ 21,701,739 Book Value of Bond Proceeds Held in Trust at US Bank - '420 Cable Television Fund $ 5,510,226 Book Value of Section 115 Assets Held in Trust at Schwab 30,375,350 '430 Reprographics/Graphics Fund $ 3,103,945 TOTAL PORTFOLIO $ 859,697,520 '440 Employee Benefits Fund $ 25,773 FUND SUMMARY '441 Compensated Absences Liability Fund $ 15,870,659 Fund Type Title Balance '450 Liability Claims Fund $ (479,908) General Fund '001 General Fund $ 258,644,652 '460 Workers' Compensation Fund $ 30,927,079 Special Funds '004 Community Development Technology Fund $ 4,603,969 '470 Unemployment Insurance Fund $ 389,450 060 Employees' Deductions Fund $ - '480 Policy, Administration, Legal $ 31,127,761 068 GASB 68 & 75 GVT Pension OPEB $ - '490 Vehicle Fund $ 45,585,529 097 GLDAG $ - '560 Debt Service Fund $ 3,480,452
'100 Community Development Block Grant $ (21,115) Permanent Funds '610 Burton Green Scholarship Fund $ 62,348 '120 State Gas Tax Fund $ 3,838,301 '660 Buck Endowment Trust Fund $ 232,713 '121 RMRA (SB1) Fund $ 4,084,489 Enterprise Funds '800 Water Enterprise Fund $ 68,582,487 '130 In-Lieu Parking Fund $ 15,448,156 '801 Water Capital Facilities Fund $ 7,786,927 '140 General Plan Fund $ 1,329,083 '802 Water Supply Capital Facilities Fund $ 4,919,231 '160 Parks & Recreation Facilities Fund $ 24,652,044 '810 Parking Enterprise Fund $ 63,438,623 170 Inmate Welfare $ - '830 Solid Waste Enterprise Fund $ 11,553,929 '180 Fine Art Fund $ 2,031,687 '840 Wastewater Enterprise Fund $ 64,311,296 '190 Police Dept Grant Fund $ 800,000 '841 Wastewater Capacity Fee Fund $ 620,075 '191 Police Dept Grant Fund $ (67,005) '850 Stormwater Enterprise Fund $ 6,170,727 '199 Organized Retail Theft Prvnt $ (31,436) '851 Stormwater - Meas W - Reg Prg $ (101,785) '210 Affordable Housing Fund $ 1,020,598 '852 Stormwater - CA DWR - Prop 1 $ (696,836) '240 Air Quality Improvement Fund $ 320,984 Total All Funds $ 859,697,520 '260 CBSC SB 1473 $ 10,221
'270 California State Senate Bill 1186 $ 6,449 $ 101,216,583 '280 Measure W - Safe Clean Water $ 60,994
'300 Transportation Grants Fund $ 3,902,986
'310 Prop C Fund $ 4,932,183 Total: $ 960,914,103
315 Misc Grants Fund - Non-Safety $ -
'323 Seized and Forfeited Property - Trea $ 800,000
'326 Seized and Forfeited Property - Federal $ 2,000,000 327 Seized and Forfeited Property - State $ -
'330 MTA Grant Fund $ 3,060,612
'335 MTA Violation Fund $ 874,161
'340 Measure M -LA Metro Tax $ 2,932,368
Balance Sheet Investment Balances
As of Quarter Ended
June 30, 2025
OPEB Trust assets accounted for in accordance with GASB 75: