Agenda Report
Fullerton City Council
MEETING DATE: NOVEMBER 4, 2025
TO: CITY COUNCIL
SUBMITTED BY: KINGSLEY OKEREKE, INTERIM DIRECTOR OF ADMINISTRATIVE SERVICES PREPARED BY: TONI SMART, DEPUTY DIRECTOR OF ADMINISTRATIVE
SERVICES
SUBJECT: TREASURER’S REPORT FOR QUARTER ENDED SEPTEMBER 30, 2025
SUMMARY
Treasurer’s Report for quarter ended September 30, 2025, first quarter of Fiscal Year 2025-26.
PROPOSED MOTION
Receive and file.
ALTERNATIVE OPTIONS
Approve the Proposed Motion
Other options brought by City Council.
STAFF RECOMMENDATION
Staff recommends the Proposed Motion.
CITY MANAGER REMARKS
None.
PRIORITY POLICY STATEMENT
This item matches the following Priority Policy Statement:
Fiscal and Organizational Stability.
FISCAL IMPACT
Staff will use the information provided in this report to ensure continued oversight.
BACKGROUND AND DISCUSSION
The City operating portfolio ended the quarter with investments totaling $176.87 million including:
$58.46 million State Local Agency Investment Fund and a Local Government Investment Pool $104.35 million U.S. Treasury Notes
$11.41 million corporate notes
$0.76 million money market funds
$1.76 million municipal bonds
$0.13 million cash.
The market yield equaled 4.055% on September 30, 2025 and the accrued interest income for the quarter totaled $2,018,686.13.
Cash balances attributable to various city funds comprise the temporarily idle cash invested in these portfolios. The invested cash is not discretionary and restricted to support each funds’ purpose and not transferable between funds. The City collectively invests and draws upon these funds to support working capital as needed. The City of Fullerton bases its investment practices and policies on state law, prudent money management and the Statement of Investment Policy with the following primary goals:
protect the principal monies entrusted to the City Treasurer assure compliance with all federal, state and local laws governing public fund investments under City Treasurer control achieve a reasonable rate of return within prudent risk management parameters while minimizing the potential for capital losses arising from market changes or issuer default.
The City Treasurer controls all investable funds including, but not limited to, the General Fund, special revenue funds, debt service funds, capital project funds, enterprise funds and trust and successor agency funds accounted for in the City Annual Comprehensive Financial Report. The City consolidates cash and reserve balances from all funds to maximize investment earnings and increase efficiencies for investment pricing, safekeeping and administration, except for cash in certain restricted and special funds. The City allocates investment income to the various funds based on their respective participation and in accordance with generally accepted accounting principles.
Attachments:
Attachment 1 – Quarterly Investment Report for Quarter Ended September 30, 2025. cc: Interim City Manager Eddie Manfro
Treasurer’s Report – Quarter Ended September 30, 2025
November 4, 2025 - Page 2