FAIRFAX TOWN COUNCIL MEETING
STAFF REPORT
AGENDA ITEM #8.b
MEETING DATE November 5, 2025
PREPARED FOR Mayor and Town Council
PREPARED BY Talia Friedman, Treasurer
SUBJECT Treasurer’s Report for Quarter Ending September 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 June 30, 2025. It was presented at the August 6, 2025 meeting.
Cash balances are:
As of September 30,2025 As of September 30, 2024
Bank of Marin checking $ 326,318 $ 422,485
LAIF account 1,541,123 2,693,610
Total cash $ 1,867,441 $ 3,116,095
State of California Local Agency Investment Fund (LAIF) earned 4.34% as the quarterly apportionment rate for the quarter ending September 30, 2025, down 0.06% from the rate earned for the quarter ending June 30, 2025. Interest earned for the quarter ending September 30, 2025 (deposited in October 2025) was $32,201.
Amid concerns about inflation, a softening labor market and recent economic data, the Federal Reserve is expected to lower interest rates to a target range of 3.75% to 4.00%. The majority of LAIF’s investment portfolio (Pooled Money Investment Account) is comprised or fixed income vehicles, including 51.39% invested in U.S. Treasury vehicles such as Treasury Notes and Bills.
ATTACHMENT
The most recent LAIF performance report and the LAIF Monthly Statement as of September 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 10/15/2025, your Local Agency Investment Fund account has been directly credited with the interest earned on your deposits for the quarter ending 9/30/2025.
Earnings Ratio 0.00011893333163814
Interest Rate 4.34%
Dollar Day Total $ 270,746,748.86
Quarter End Principal Balance $ 1,541,122.67
Quarterly Interest Earned $ 32,200.81