FAIRFAX TOWN COUNCIL MEETING
STAFF REPORT
AGENDA ITEM #4.b
MEETING DATE August 5, 2026
PREPARED FOR Mayor and Town Council
PREPARED BY Talia Friedman, Treasurer
SUBJECT Treasurer’s Report for Quarter Ending June 30, 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 March 31, 2026. It was presented at the April 15, 2026, meeting.
Cash balances are:
June 30, 2026 June 30, 2025 June 30, 2024
Bank of Marin
checking
$ 370,559 $ 503,399 $ 202,280
LAIF account $6,803,673 $5,263,513 $6,272,903
Total cash $7,174,232 $5,766,912 $6,475,183
State of California Local Agency Investment Fund (LAIF) earned 3.92% as the quarterly apportionment rate for the quarter ending June 30, 2026, down 0.48% from the rate earned for the quarter ending March 31, 2026, continuing a downward trend for the fiscal year. Interest earned for the quarter ending June 30, 2026 (deposited July 2025) was $64,927. While inflation running higher than the Federal Reserve’s target, interests rates are expected to remain stable for the near term.
ATTACHMENT
The most recent LAIF performance report and the LAIF Monthly Statement as of June 30, 2026, are attached.