FAIRFAX TOWN COUNCIL MEETING
STAFF REPORT
AGENDA ITEM #4.b
MEETING DATE May 6, 2026
PREPARED FOR Mayor and Town Council
PREPARED BY Talia Friedman, Treasurer
SUBJECT Treasurer’s Report for Quarter Ending March 31, 2026
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 December 31, 2025. It was presented at the February 4, 2026, meeting.
Cash balances are:
As of March 31, 2026 As of March 31, 2025
Bank of Marin checking $ 562,528 $ 417,676
LAIF account 4,501,228 3,218,518
Total cash $ 5,063,756 $ 3,636,194
State of California Local Agency Investment Fund (LAIF) earned 3.98% as the quarterly apportionment rate for the quarter ending March 31, 2026, down 0.22% from the rate earned for the quarter ending December 31, 2025. Interest earned for the quarter ending March 31, 2026 (deposited April, 2026) was $52,445.
ATTACHMENT:
The most recent LAIF performance report and the LAIF Monthly Statement as of March 31, 2026 are attached.
March 3.826
February 3.871
January 3.931
December 4.025
November 4.096
October 4.150
PMIA Average Life(1): 261
LAIF Fair Value Factor(1): 0.999980831
PMIA Daily(1): 3.82
PMIA Quarter to Date(1): 3.92
LAIF Apportionment Rate(2): 3.98
LAIF Earnings Ratio(2): 0.00010906180047888
LAIF Administrative Cost(1)*: TBD
Treasuries
56.86%
Agencies
21.79%
Certificates of
Deposit/Bank Notes
10.77%
Time
Deposits
3.31%
Commercial
Paper
6.52%
Corporate
Bonds
0.59%
Loans
0.16%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) .
*The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.
Source:
(1) State of California, Office of the Treasurer
(2) State of California, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 04/15/26
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 03/31/26
Chart does not include $829,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
3/31/26
$165.3 billion
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
April 07, 2026
LAIF Home
PMIAAverage
Monthly Yields
CITY OF FAIRFAX
FINANCE DIRECTOR
142 BOLINAS ROAD
FAIRFAX, CA 94930
Account Number: 98-21-290
March 2026 Statement
Tran Type
Definitions
Effective
Date
Transaction
Date
Tran
Type
Confirm
Number
Web
Confirm
Number Authorized Caller Amount
3/5/2026 3/4/2026 RW 1795241 N/A MICHAEL VIVRETTE -300,000.00 3/12/2026 3/11/2026 RW 1795456 N/A MICHAEL VIVRETTE -450,000.00 Account Summary
Total Deposit: 0.00 Beginning Balance: 5,251,228.01
Total Withdrawal: -750,000.00 Ending Balance: 4,501,228.01 MALIA M. COHEN
California State Controller
LOCAL AGENCY INVESTMENT FUND
REMITTANCE ADVICE
Agency Name FAIRFAX
Account Number 98-21-290
As of 4/15/2026, your Local Agency Investment Fund account has been directly credited with the interest earned on your deposits for the quarter ending 3/31/2026.
Earnings Ratio 0.00010906180047888
Interest Rate 3.98%
Dollar Day Total $ 480,869,857.48
Quarter End Principal Balance $ 4,501,228.01
Quarterly Interest Earned $ 52,444.53