1 TO: City Council
FROM: Andrew Vialpando, City Manager
PREPARED BY: Susan Kamada, Administrative Services Director MEETING DATE: August 20, 2024
SUBJECT: June and July 2024 Treasury and Investment Report
RECOMMENDATION
Receive and file the Treasury and Investment Report.
BACKGROUND
Pursuant to Section 41004 of the Government Code of the State of California, the City Treasurer is required to submit a monthly report of all receipts, disbursements and fund balances. The first page of the report summarizes the investment activity for the month and distribution by type of investment, held by the City. The second and third page lists all investments with original maturities exceeding one year as of the month ended July 31, 2024. The fourth page of the report provides a summary of the beginning balance, total receipts, total disbursements, ending balance for all funds, and a listing, by fund, of all month end fund balances.
In summary, all investments of the City of Lomita are in compliance with both the Government Code and our Investment Policy. In addition, the City has sufficient liquidity to meet its expenditure requirements for the ensuing six months.
11.36% of the City’s funds are with the State of California Local Agency Investment Fund (LAIF). The remaining funds of the City of Lomita are in active checking accounts, money market funds, U.S. Treasuries, Federal Agency Securities, Corporate Bonds, and FDICinsured Negotiable Certificates of Deposit that are in compliance with the California Government Code and the City’s Investment Policy. The current value of each account is obtained from actual monthly statements for the period ending July 31, 2024.
CITY OF LOMITA
CITY COUNCIL REPORT
Item No. {{section.number}}h
2 OPTIONS
None, information only.
FISCAL IMPACT
None.
ATTACHMENT
1. Treasury and Investment Report for June 2024
2. Treasury and Investment Report for July 2024
Reviewed by: Approved by:
____________________________
Gary Y. Sugano Andrew Vialpando
Assistant City Manager City Manager
Prepared by:
__________________________
Susan Kamada
Administrative Services Director