Placentia Cit Council
AGENDA REPORT
TO: CITY COUNCIL
VIA: CITY ADMINISTRATOR
FROM: DIRECTOR OF FINANCE
DATE: APRIL 16, 2024
SUBJECT: 2024 CITY TREASURER INVESTMENT REPORT UPDATE
FISCAL
IMPACT: NONE
SUMMARY:
The Finance Department has assisted the City Treasurer in the preparation of the 2024 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 FY2023/24 and FY2024/25.
RECOMMENDATION:
It is recommended that the City Council take the following action:
Receive and file the 2024 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.
3.a.
April 16, 2024
City Council Agenda
April 16, 2024
The City's cash and investments are in compliance with the City's investment policy which is reviewed and approved annually by the City Council. The attached report reflects the City's current investment portfolio and forecasts for 2023-2028.
Prepared by: Reviewed and approved:
Jennifer Lampman
Director of Finance
Reviewed and approved:
Damien R. Arrula
City Administrator
inn (ArSoln,
Kevin Larson
City Treasurer
Attachment:
2024 Treasury Update PowerPoint presentation