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CONSENT CALENDAR
City of San Bernardino
Request for Council Action
Date: June 5, 2024
To: Honorable Mayor and City Council Members
From: Rochelle Clayton, Acting City Manager;
C. Jeannie A. Fortune, Interim Director of Finance & Management Services
Department: Finance & Management Services
Subject: Investment Portfolio Report for January, February, and March 2024 (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 January, February, and March 2024 reports.
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 and Management Services 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 January, February, and March 2024.
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 2 0
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from a combination of liquid and maturing securities, bank deposits, and income to meet the City’s expenditure requirements.
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 January, February, and March 2024.
Attachments
Attachment 1 Investment Portfolio Management Summary Report January, February, and March 2024.
Ward:
All Wards
Synopsis of Previous Council Actions:
N/A