TO:
VIA:
FROM:
DATE:
CITY COUNCIL
CITY ADMINISTRATOR
DIRECTOR OF FINANCE
MARCH 21, 2023
Placentia Cit Council
AGENDA REPORT
SUBJECT: 2023 CITY TREASURER INVESTMENT REPORT UPDATE
FISCAL
IMPACT: NONE
SUMMARY:
The Finance Department has assisted the City Treasurer in the preparation of the 2023 Treasury Update. The Treasurer's Report includes all investments managed by the City and investments held by trustees and an outline of the City Treasurer's goals and accomplishments for FY2022/23 and FY2023/24.
RECOMMENDATION:
It is recommended that the City Council take the following action:
1. Receive and file the 2023 Treasury Update.
STRATEGIC PLAN STATEMENT:
This item is consistent with the City Council approved 5 -Year Strategic Goal # 1: Ensure Long- term Fiscal Sustainability.
DISCUSSION:
The City Treasurer is an elected position and, by charter, is the custodian of all public funds belonging to, or under the control of, the City or any office, department, or agency thereof. As custodian of all public funds, the City Treasurer, with the cooperation and assistance of the Finance Department, receives all monies coming into local financial institutions.
To maintain a good investment program, the City Treasurer must have a good cash flow analysis of funds coming into the City, as well as funds being paid out. The Treasurer can then place the funds in various legal investments that will yield the highest return to the City over the terms of the investments.
The attached report reflects the City's current investment portfolio and forecasts for 2022-2027.
3.d.
March 21, 2023
City Council Agenda
March 21, 2023
Prepared by:
Jennifer Lampman
Director of Finance
Reviewed and approved:
Damien R. Arrula
City Administrator
Attachment:
1. 2023 Treasury Update PowerPoint presentation