STAFF REPORT
Meeting Date: February 11, 2026
To: Honorable Mayor & City Council
From: Howard S. Fisher, City Treasurer
Subject: Treasurer’s Report for Quarter Ended December 31, 2025 Attachments: 1. Fund Summary Schedule
INTRODUCTION
This City Treasurer’s Report for the quarter ended December 31, 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 second 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.
BNY Mellon / Wells
Fargo Bank
CalTrust / Local
Agency Investment
Fund
U.S. Bank
(Bond Reserves)
Schwab
(Section 115 Trust)
Beginning 9/30/2025 @ Cost 649,575,494 139,641,363 - 126,653,536 915,870,394 Net Investment Activity * (9,233,897) 40,000,000 - 2,724,769 33,490,873 Plan Expenses & Payments to Retirees - - - (1,421,603) (1,421,603) Income 6,281,756 1,586,151 - 2,760,978 10,628,885
Ending 12/31/25 @ Cost 646,623,354 181,227,514 - 130,717,681 958,568,549 Net Investment Activity * 6,935,463 (50,000,000) - 2,500,000 (40,564,537) Plan Expenses & Payments to Retirees - - - (1,124,641) (1,124,641) Income 7,894,680 2,015,207 - 1,260,815 11,170,702
Ending 09/30/25 @ Cost 649,575,494 139,641,363 - 126,653,536 915,870,394 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 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 Total Portfolio
General Portfolio Restricted Portfolio
Q3 FY24/25
Period Covered
Q4 FY24/25
Q1 FY25/26
Q2 FY25/26
1 1
1 1
1
In addition to the investment portfolio, the City had $30,914,480 of operating cash on hand as of December 31, 2025, bringing the total cash and investments to $989,483,029 by the end of the fiscal year’s second quarter.
DISCUSSION
The City’s total investment portfolio of $958.6 million at December 31, 2025 included $827.9 million in general portfolio investments and $130.7 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 June 30, 2026, 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 $ 646,623,354 Fund Type Title Balance Book Value Cal Trust 115,332,083 Internal Service Funds '600 Infrastructure Fund $ 61,200,974 Book Value Wells Fargo - Stagecoach Sweep 0 '405 Capital Assets Fund $ 65,504,539 Book Value State Controllers Local Agency Investment Fund (LAIF) 65,895,432 '400 Equipment Replacement Fund $ 18,237,054 City Treasurer's Portfolio 827,850,868 '410 Information Technology Fund $ 28,172,285 Book Value of Bond Proceeds Held in Trust at US Bank - '420 Cable Television Fund $ - Book Value of Section 115 Assets Held in Trust at Schwab 34,588,350 '430 Reprographics/Graphics Fund $ - TOTAL PORTFOLIO $ 862,439,218 '440 Employee Benefits Fund $ - FUND SUMMARY '441 Compensated Absences Liability Fund $ 15,307,254 Fund Type Title Balance '450 Liability Claims Fund $ 3,660,919 General Fund '001 General Fund $ 277,358,685 '460 Workers' Compensation Fund $ 30,267,862 Special Funds '004 Community Development Technology Fund $ 4,661,119 '470 Unemployment Insurance Fund $ 384,278 060 Employees' Deductions Fund $ - '480 Policy, Administration, Legal $ 31,634,338 068 GASB 68 & 75 GVT Pension OPEB $ - '490 Vehicle Fund $ 40,633,838 097 GLDAG $ - '560 Debt Service Fund $ 3,355,526
'100 Community Development Block Grant $ - Permanent Funds '610 Burton Green Scholarship Fund $ 62,071 '120 State Gas Tax Fund $ 3,847,190 '660 Buck Endowment Trust Fund $ 230,805 '121 RMRA (SB1) Fund $ 2,410,408 Enterprise Funds '800 Water Enterprise Fund $ 59,952,520 '130 In-Lieu Parking Fund $ 15,007,015 '801 Water Capital Facilities Fund $ 7,784,664 '140 General Plan Fund $ 1,460,642 '802 Water Supply Capital Facilities Fund $ 4,916,769 '160 Parks & Recreation Facilities Fund $ 24,072,337 '810 Parking Enterprise Fund $ 60,854,298 170 Inmate Welfare $ - '830 Solid Waste Enterprise Fund $ 9,579,506 '180 Fine Art Fund $ 2,029,897 '840 Wastewater Enterprise Fund $ 64,108,492 '190 Police Dept Grant Fund $ 800,000 '841 Wastewater Capacity Fee Fund $ 622,990 '191 Police Dept Grant Fund $ (67,005) '850 Stormwater Enterprise Fund $ 6,040,666 '199 Organized Retail Theft Prvnt $ (726,648) '851 Stormwater - Meas W - Reg Prg $ (102,077) '210 Affordable Housing Fund $ 1,030,584 '852 Stormwater - CA DWR - Prop 1 $ (700,749) '240 Air Quality Improvement Fund $ 315,310 Total All Funds $ 862,439,218 '260 CBSC SB 1473 $ 14,280
'270 California State Senate Bill 1186 $ 9,072 $ 96,129,331 '280 Measure W - Safe Clean Water $ 11,826
'300 Transportation Grants Fund $ 3,889,680
'310 Prop C Fund $ 4,915,970 Total: $ 958,568,549
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 $ 3,050,669
'335 MTA Violation Fund $ 921,987
'340 Measure M -LA Metro Tax $ 2,917,377
Balance Sheet Investment Balances
As of Quarter Ended
December 31, 2025
OPEB Trust assets accounted for in accordance with GASB 75: