FAIRFAX TOWN COUNCIL MEETING
STAFF REPORT
AGENDA ITEM #6.f
MEETING DATE August 6, 2025
PREPARED FOR Mayor and Town Council
PREPARED BY Talia Friedman, Treasurer
SUBJECT Treasurer’s Report for Quarter Ending June 30, 2025
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 March 31, 2025. It was presented at the April 22, 2025, meeting.
Cash balances are:
As of June 30,2025 As of June 30, 2024
Bank of Marin checking $ 503,399 $ 202,280
LAIF account 5,263,513 6,272,903
Total cash $ 5,766,912 $ 6,475,183
State of California Local Agency Investment Fund (LAIF) earned 4.40% as the quarterly apportionment rate for the quarter ending June 30, 2025, down 0.08% from the rate earned for the quarter ending March 31, 2025. Interest earned for the quarter ending June 30, 2025 (deposited July 2025) was $57,610.
ATTACHMENT
The most recent LAIF performance report and the LAIF Monthly Statement as of June 30, 2025, are attached.
MALIA M. COHEN
California State Controller
LOCAL AGENCY INVESTMENT FUND
REMITTANCE ADVICE
Agency Name FAIRFAX
Account Number 98-21-290
As of 7/15/2025, your Local Agency Investment Fund account has been directly credited with the interest earned on your deposits for the quarter ending 6/30/2025.
Earnings Ratio 0.00012059828906715
Interest Rate 4.40%
Dollar Day Total $ 477,699,740.96
Quarter End Principal Balance $ 5,263,512.90
Quarterly Interest Earned $ 57,609.77
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
July 16, 2025
LAIF Home
PMIAAverage Monthly Yields
CITY OF FAIRFAX
FINANCE DIRECTOR
142 BOLINAS ROAD
FAIRFAX, CA 94930
Account Number: 98-21-290
June 2025 Statement
Tran Type Definitions
Effective
Date
Transaction
Date
Tran
Type
Confirm
Number
Web
Confirm
Number Authorized Caller Amount
6/4/2025 6/3/2025 RW 1774356 N/A MICHAEL VIVRETTE -350,000.00 6/12/2025 6/11/2025 RW 1774616 N/A MICHAEL VIVRETTE -300,000.00 Account Summary
Total Deposit: 0.00 Beginning Balance: 5,913,512.90
Total Withdrawal: -650,000.00 Ending Balance: 5,263,512.90