ACTION:
____________________________
Clerk/Secretary
Department: Finance Item No: C3
Prepared by: Lori Ruiz, Senior Accountant Meeting Date: January 14, 2025 Approved by:
Mike Sylvia, Director/Treasurer
John Conley, City Manager Agenda Location: Consent Calendar S
UBJECT: TREASURER’S CASH REPORT FOR THE MONTH ENDING OCTOBER 31, 2024 RE
COMMENDATION: Receive and file attached Treasurer’s Cash Report for the month ending October 31, 2024.
CO
RRELATION TO CITY COUNCIL GOALS: Fiscal Responsibility.
P
RIOR ACTION: On December 10, 2024, received the Treasurer’s Cash Report for the month ending September 30, 2024 (Vote: 5-0).
S
TATEMENT ON THE SUBJECT: The City Treasurer is required to submit to the City Council and City Manager a monthly report of cash and investment balances and activity. Exhibit 1 provides the details of cash and investment activity for the month of October 2024 and cash and investment balances at October 31, 2024.
The C
ity’s investment advisor, PFM Asset Management, LLC (PFM) has system controls in place to prevent transactions that would violate California Government Code Section 53600 et seq. and the City’s Investment Policy. Additionally, City staff actively monitor trading transactions for compliance with California Government Code Section 53600 et seq. and the City’s Investment Policy. No instances of non- compliance have been noted for the month of October 2024.
The
City invests a large portion of its portfolio in U.S. Treasury and U.S. Agency securities due to safety and preservation of capital to prevent loss. To avoid having to sell securities at a possible loss because of unexpected or larger than normal disbursements, the City also invests a portion of its funds in the California Asset Management Program (CAMP), Local Agency Investment Fund (LAIF-State Pool), and San Diego County Investment Pool, which offer same day liquidity at a constant net asset value. Additionally, the City invests in high quality corporate and bank notes, municipal bonds, asset-backed securities and negotiable certificates of deposit to obtain higher yields and add diversity to the portfolio. The percentages of the portfolio are as follows:
AGENDA
REPORT
CITY COUNCIL
COMMUNITY DEVELOPMENT COMMISSION
SUCCESSOR AGENCY
BUENA SANITATION DISTRICT
JOINT POWERS FINANCING AUTHORITY
Received and filed Treasurer's Cash Report for the month ending October 31, 2024. Vote: 5-0