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9 CONSENT CALENDAR
City of San Bernardino
Request for Council Action
Date: March 20, 2024
To: Honorable Mayor and City Council Members
From: Charles A. Montoya, City Manager
Barbara Whitehorn, Director of Finance and Management
Services
Department: Finance
Subject: Investment Portfolio Report for October, November, and December 2023 (All Wards)
Recommendation:
It is recommended that the Mayor and City Council of the City of San Bernardino, California, accept and file the Monthly Investment October, November and December 2023.
Executive Summary
This action is to approve the Investment Portfolio. This is regular business of the Mayor and City Council ensuring that the City invests in compliance with the Mayor and Council approved Investment Policy.
Background
The City’s Statement of Investment Policy requires that a monthly Investment Portfolio Report be prepared and submitted to the Mayor and City Council. The Director of Finance will prepare, review, and present the City’s Investment Portfolio Report and confirm that the portfolio is in compliance with the City’s Investment Policy.
Discussion
The Investment Portfolio Report provides a synopsis of investment activity for the City’s investment portfolio for the months ended October, November, and December, 2023.
The City’s Investment Portfolio is in full compliance with the City’s current Investment Policy and California Government Code section 53601, and there is sufficient cash flow from a combination of liquid and maturing securities, bank deposits, and income to meet the City’s expenditure requirements.
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9 2021-2025 Strategic Targets and Goals
The acceptance and filing of the attached Investment Portfolio Report aligns with Key Target No. 1: Improved Operational & Financial Capacity by implementing, maintaining, and updating a fiscal accountability plan.
Fiscal Impact
There is no fiscal impact associated with receiving and filing the monthly investment report.
Conclusion
It is recommended that the Mayor and City Council of the City of San Bernardino, California, accept and file the Monthly Investment Portfolio Report for October, November, and December 2023.
Attachments
Attachment 1 Investment Portfolio Management Summary Report October, November, and December 2023.
Ward:
All Wards
Synopsis of Previous Council Actions:
N/A