City Treasurer’s Annual Report
As of June 30, 2026
Rafi Manoukian CPA, MBA
City Treasurer
City Treasurer’s Office
Functions:
Investments
Banking Relationship
Trustee Responsibilities
The City Treasurer’s Office acts as the banker for the City and handles the
City’s banking relationship which consists of contract
administr
ation, daily treasury management, and reconciliation of all bank accounts.
The City Treasurer’s Office acts as the Trustee of various City Street Improvement Bonds. Currently, all Street Improvement Bonds are re
tired.
1 2
Investment Philosophy & Objectives
General Investment policies will be guided by the “Prudent Investor” rule, which states that those with investment responsibility “shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency.”
Investment Objectives
1 – Preservation of Principal
2 – Ensuring Liquidity
3 – Yield
Risk Tolerance
Volatility of the Principal is not Permitted
Rate of Return
Should at least meet the annual total return on Three-Month Treasury Bills
City, Successor Agency & GRA Revenue Bonds
Portfolio Holdings
ሺbalances in 000’ሻ
6/30/2025 6/30/2026
CITY FUNDS
City $1,150,490 $1,148,025
SUCCESSOR AGENCY FUNDS
Succesor Agency $19,665 $20,315
REDEVELOPMENT AGENCY BONDS
GRA Tax Allocation Bond 2011 $11,758 $12,239
GLENDALE WATER AND POWER ELECTRIC BONDS
GWP Electric Bond 2024 Series 2 $18,978 $0
PORTFOLIO TOTAL $1,200,892 $1,180,579
3 4
Total City Portfolio and Cash
ሺbalances in 000’ሻ
June 30, 2025 June 30, 2026
INVESTMENTS
Portfolio @ par 1,150,490$ 1,148,025$
CASH
Cash on Hand 48,863$ 56,018$
TOTAL PORTFOLIO & CASH 1,199,353$ 1,204,043$
Asset Allocations
City Portfolios
% of Portfolio
6/30/2025
% of Portfolio
6/30/2026
13.47 11.27
17.69 23.70
21.97 16.36
12.50 13.76
0.46 0.00
5.32 2.82
4.41 1.88
6.86 4.68
7.55 9.60
9.76 8.84
0.00 7.10
100.00 100.00Total / Average 1,141,829,171.56 1,136,561,332.37 Treasury Notes 111,468,784.61 100,483,780.98
Money Market Mutual Funds 0.00 80,725,261.57
Obligations of Other States 78,344,621.62 53,232,170.00 State & Municipal Bonds 86,249,039.51 109,063,657.23
LAIF - City 60,728,427.83 32,036,594.32
LAIF - GFA 50,378,295.22 21,345,067.53
Federal Agency Term Notes 142,764,037.46 156,338,598.17 LA County Pool 5,293,717.34 0.00
Corporate 201,951,422.19 269,334,002.38
Federal Agency Callable Bonds 250,805,032.73 185,893,330.58 Asset Category Book Value
6/30/2025
Book Value
6/30/2026
CAMP 153,845,793.05 128,108,869.61
Asset Category Allocation
5 6
Key Statistics
All Portfolios
June‐13 June ‐14 June ‐15 June ‐16 June ‐17 June ‐18 June ‐19 June ‐20 June ‐21 June‐ 22 June ‐23 June ‐24 June ‐25 June ‐26 Total Interest Earnings Portfolio @ Par
($ millions) 372.89 381.50 432.20 583.66 754.26 789.74 889.56 841.26 808.65 1,008.97 1,056.42 1,146.78 1,200.89 1,180.58 Interest Earnings
(YTM ‐ $ millions) 2.61 3.59 5.19 7.59 11.97 14.70 19.40 15.89 16.31 19.95 29.55 32.05 35.98 35.51 250.29 Rate of Return
(YTM) 0.70% 0.94% 1.20% 1.30% 1.57% 2.05% 2.37% 1.83% 1.41% 1.72% 2.74% 3.34% 3.35% 3.55% Investment Maturities
City’s Portfolio
7 8
Rate of Return vs Treasury Yields
Quarterly
Credit Ratings
City’s Portfolio
9 10
Rate Comparison
All Portfolio’s
11