CITY OF MENIFEE
SUBJECT: Treasurer's Report - November 2024
MEETING DATE: February 5, 2025
TO: Mayor and City Council
PREPARED BY: Ann-Marie Etienne, Finance Manager
REVIEWED BY: Travis Hickey, Chief Financial Officer
APPROVED BY: Armando G. Villa, City Manager
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RECOMMENDED ACTION
1. Receive and file the Treasurer’s Report as of November 30, 2024.
DISCUSSION
Attached is the signed Treasurer’s Report for Cash and Investments as of November 30, 2024.
The first section (green section) of the Treasurer’s Report includes a summary of where the City’s revenues are held and summary activity, including:
- City Cash: City’s checking/savings accounts, asset forfeiture, cash on hands. These funds are used to pay most regular payments/expenses.
- City Investments: City’s short and long-term investments distributed amongst the Local Agency Investment Fund (LAIF) and California Asset Management Program (CAMP) investment pools, and the main investment portfolio currently managed by the City’s investment advisor, Chandler Asset Management, Inc.
- Cash Held Outside of City Funds: Funds held by the City’s trustee, Wilmington Trust, and used for City debt service and City managed debt service and bond proceeds distribution.
The second half (blue section) of the Treasurer’s Report represents the City’s reserve balances, including committed, assigned and unassigned balances as identified for use towards either committed/assigned purposes or for the support of daily operations.
STRATEGIC PLAN OBJECTIVE
Thriving Economy
City of Menifee Staff Report
Treasurer's Report - November 2024
February 5, 2025
2 5
1 9
FISCAL IMPACT
There is no fiscal impact associated with the recommended action.
ATTACHMENTS
1. Treasurer’s Report - November 2024