FAIRFAX TOWN COUNCIL MEETING
STAFF REPORT
AGENDA ITEM #3.b.
MEETING DATE Mar 5, 2025
PREPARED FOR Mayor and Town Council
PREPARED BY Talia Friedman, Treasurer
SUBJECT Treasurer’s Report for Quarter Ending December 31, 2024
RECOMMENDATION
Accept and file Treasurer’s Report.
DISCUSSION
California Government Code requires that the Town Treasurer submit to the Town Clerk and the legislative body periodic written reports of fund balances. Town policy stipulates that the Treasurer may submit investment reports at least quarterly. The last Treasurer’s Report was for the period ending September 30, 2024. It was presented at the November 6, 2024 meeting.
Cash balances are:
As of December 31,2024 As of December 31, 2023
Bank of Marin checking $ 1,215,463 $ 1,189,276
LAIF account 4,290,257 5,183,050
Total cash $ 5,505,720 $ 6,372,326
State of California Local Agency Investment Fund (LAIF) earned 4.62% as the quarterly apportionment rate for the quarter ending December 31, 2024, down 0.09% from the rate earned for the quarter ending September 30, 2024. Interest earned for the quarter ending December 31, 2024 (deposited January, 2025) was $28,260.
ATTACHMENT
The most recent LAIF performance report and the LAIF Monthly Statement as of December 31, 2024 are attached.