STAFF REPORT
Meeting Date:
December 9, 2025
CONSENT
7 SUBJECT: MONTHLY TREASURER’S AND INVESTMENT REPORT (OCTOBER 2025) RECOMMENDATION: It is recommended that the City Council:
1. Receive and file the October 2025 report.
SUMMARY OF THE MATTER
A monthly report by the elected City Treasurer is required by Government Code. That report was modified to comply with the Laguna Beach Investment Policy.
The City Council has retained investment authority. They have delegated the management of short-term investments to the elected City Treasurer, Laura Parisi, and the management of surplus1 investments to the City Manager who utilizes Meeder Investments. Liquidity for the next six months included the maturity of surplus investments.
Attached are two reports October 2025.
• At the end of October, Ms. Parisi managed $42,000,000 in cash and investments targeted for the 2025 dry period liquidity that earned an average yield of 3.433%. She also managed the bond and bank funds.
• An outside portfolio manager managed $105,700,000 invested in securities with durations after December 1, 2025, an average credit rating of AA and a yield before the management fee of 1.91%. • No investments were purchased during the month.
• The portfolio includes US government agency instruments (49% of the portfolio), high-yield, fully collateralized bank accounts (13%), treasury securities (14%), medium term corporate notes ((14%), negotiable CDs (1%) and supranational bonds (such as those issues by the World Bank – 1%).
.
FINANCIAL ANALYSIS
The recommended action has no financial impact to the budget.
ENVIRONMENTAL ANALYSIS
The recommended action has no environmental impact.
ATTACHMENTS
1. Report from City Treasurer Parisi (Pgs. 3-7)
2. Report from Investment Manager (Pgs. 8-30)
1 In this context, “surplus” means City funds not necessary for immediate liquidity purpose or otherwise earmarked or required for other immediate City costs/expenses. This is not meant to be construed as an overall budget surplus or something akin to that.
MONTHLY TREASURER’S AND INVESTMENT REPORT (OCTOBER 2025) December 9, 2025
Submitted By: Laura Parisi Approved: .David A Kiff
Laura Parisi, CPA, CCMT, City
Treasurer
Dave Kiff, City Manager
Report Prepared By: Coordinated With:
Dave Kiff, City Manager
Laura Parisi, CPA, CCMT, City Treasurer
Greg Balls, CFA, Meeder Investments
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