CITY OF MENIFEE
SUBJECT: Treasurer's Report – June 30, 2026
MEETING DATE: August 19, 2026
TO: Mayor and City Council
PREPARED BY: Amir Zaki, 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 Quarterly Treasurer's Report as of June 30, 2026.
DISCUSSION
Attached is the signed monthly Treasurer’s Report for Cash and Investments as of June 30, 2026, and 2nd Quarter (April 2026 – June 2026) Investment Review as summarized below.
This Treasurer’s Report is distinguished from the regular monthly report in that it includes more in-depth disclosure and review of investment activities over the past three months. The City of Menifee’s investment objectives in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program. To achieve these objectives, the city invests in high quality fixed income securities consistent with the current investment policy (Investment Policy CC-11) and California Government Code.
Quarterly Review: 2nd Quarter (April 2026 – June 2026) Investment Summary With a favorable interest market throughout the period in review, the city’s investment portfolio continued to perform strongly during the 2nd Quarter of 2026, yielding additional interest revenue to support municipal services. The city’s investment approach balances its investments between short-term investment portfolio to long-term investments. Beginning in the fall of 2023, the city has made some additional efforts to maximize the city’s investments opportunities in a fiscally prudent, but proactive manner.
Overall Investment Portfolio Composition
During the 2 nd Quarter of 2026, the city continued to participate in the California Asset Management Program (CAMP) investment pool program. Staff identified an opportunity to further diversify the current investment portfolio and thereby maximize investment opportunities by
City of Menifee Staff Report
Quarterly Treasurer's Report as of June 30, 2026
August 19, 2026
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participating in this program. Also, during the 2nd Quarter period, the city continued to participate in LAIF and maintained long-term investments through the support of investment consulting firm Chandler Asset Management.
Overall Investment Portfolio Performance
With respect to the city’s short-term investments, LAIF and/or CAMP investment pools, on June 30, 2026, CAMP’s rate was 3.77% while LAIF’s rate was 3.82%. The quarter ending June 30, 2026, produced the following results: CAMP accrued $915,198.00 in cash dividends and income.
LAIF accrued $363,057.26 interest during the 2nd Quarter period. On the longer-term investment component of the portfolio, Chandler accrued $1,113,462.43 interest during the quarter ending June 30, 2026. As is the case with most of the current fiscal year, the short-term investment yields have been providing higher returns than long-term investments as the Federal Reserve has sustained higher interest rates thus far. However, future changes in interest rates would most immediately impact the short-term rates received.
TABLE 1 - QUARTER 2 OVERALL INVESTMENT PORTFOLIO PERFORMANCE Investment
Portfolio
Investment Type/
Investment Category
Beginning
Market Value
04/01/2026
Ending Market
Value
06/30/2026
Investment
Returns
(Cash Dividends/
Interest)
CAMP Pool/ Short-Term 96,959,788.62 109,874,986.62
915,198.00
LAIF Pool/ Short-Term 37,048,222.48 37,411,279.74
363,057.26
Chandler
Asset
Management
City Investments/ Long-
Term 138,057,195.85 138,231,391.11 1,113,462.43
Cash Held Outside City Funds
As noted in the monthly Treasurer’s Report there are some specific funds held outside the City’s custody and held instead by Wilmington Trust and Public Agency Retirement Services (PARS), designated trustees. The Wilmington Trust funds relate to the TRIP and Streetlight Retrofit debt service payments, as well as the bonded CFDs bond proceeds and debt service payments. The PARS funds relate to the Section 115 Trust accounts set up for pension and other post- employment benefits (OPEB) costs. Pursuant to the Trustee agreements in place, Wilmington Trust and PARS oversees the respective investment of these funds. The average return yield of these funds is summarized within the corresponding section of the Treasurer’s Report. The initial deposit for the PARS accounts was made on June 30, 2026, so the very minimal rate of return is due to the lack of investment return because the funds were only on deposit for one day.
STRATEGIC PLAN OBJECTIVE
Thriving Economy
FISCAL IMPACT
There is no fiscal impact associated with the recommended action.
City of Menifee Staff Report
Quarterly Treasurer's Report as of June 30, 2026
August 19, 2026
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ATTACHMENTS
1. Treasurer's Report as of June 30, 2026
2. CA Asset Management Program Statements April 2026
3. CA Asset Management Program Statements May 2026
4. CA Asset Management Program Statements June 2026
5. LAIF Investment Statements April 2026
6. LAIF Investment Statements May 2026
7. LAIF Investment Statements June 2026
8. Chandler Monthly Account Statements April 2026
9. Chandler Monthly Account Statements May 2026
10. Chandler Monthly Account Statements June 2026