CITY OF HAWAIIAN GARDENS
CITY COUNCIL
STAFF REPORT
Agenda Item #B3
DATE: October 8, 2025
TO: Honorable Mayor and Members of the City Council
FROM: Ernesto Marquez, City Manager
BY: Linda Hollinsworth, Finance Director
RECOMMENDATION:
RECOMMENDATION TO RECEIVE AND FILE TREASURER'S REPORT FOR AUGUST 2025
SUMMARY
The attached Treasurer’s Reports provide balances for the month of August 2025. During this period, the City investments were in compliance with the Investment Policy and the City had sufficient cash reserves to meet the expenditure requirement for operations for the next six (6) months.
The City maintains checking accounts for general operations, payroll, and the housing account. In addition, we maintain an investment account with LAIF. Funds are also retained by the Bank of New York Mellon for the Successor Agency Bond payments. The general operating account and LAIF represent cash transactions for multiple funds (Pooled Cash) with the amount available for each fund tracked in the general ledger. Interest earned through LAIF is allocated to each fund based on the balance shown in the general ledger. The attached detail report provides balances by Fund as of August 2025.
FISCAL IMPACT
None
SUGGESTED ACTION
Approve Recommendation.
ATTACHMENTS
A. Treasurer's Report August 2025
B. PMIA-LAIF Performance Report