Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8D
Yountville Town Council Staff Report
DATE: May 6, 2025
TO: Mayor and Town Council
FROM: Celia King, Administrative Service Director
PREPARED BY: Kyle Batista, Financial Analyst
RECOMMENDATION
Receive and File March 2025 Quarterly Investment Report.
DISCUSSION/BACKGROUND
This report represents the Town’s investment portfolio for the quarter ending March 31, 2025. The report includes all Town funds. All investments are in compliance with the Town’s adopted Investment Policy.
The Town’s investments are guided by an Investment Policy, which is reviewed and approved by the Council annually. The Investment Policy was last approved by the Town Council on May 21, 2024. The policy directs that investment goals, in order by priority, are safety, liquidity, and yield. This conservative approach ensures assets are available for use while also allowing the Town to earn additional resources on idle funds. The Town currently participates in the State investment pool known as the Local Agency Investment Fund (LAIF).
LAIF began in 1977 as an investment alternative for California’s local governments and special districts and is administered by the State of California’s Treasurer. The enabling legislation for LAIF is Section 16429.1 et seq. of the California Government Code.
This program offers local agencies the opportunity to participate in a major portfolio, which invests hundreds of millions of dollars, using the investment expertise of the Treasurer's Office investment staff at no additional cost to local agencies or taxpayers. LAIF is part of the Pooled Money Investment Account (PMIA). The PMIA began in 1955 and oversight is provided by the Pooled Money Investment Board (PMIB) and an in-house Investment Committee. The PMIB members are the State Treasurer, State Director of Finance, and State Controller.
The Town established a Section 115 Trust for Other Post-Employment Benefits and Pension Rate Stabilization with Public Agency Retirement Services (PARS). Town Council adopted a moderate investment strategy and funds are invested in a diversified portfolio. The interest rates shown are for the quarter reported.
All Town funds are invested in accordance with the approved Investment Policy with an emphasis on safety, liquidity, and yield (in that order). The Town’s investment strategy of balancing the investment portfolio between short-term investments (to meet cash flow needs) and longer-term maturities (to realize a higher rate of return) is appropriate given the current market conditions.
The investment portfolio will continue to be closely monitored to ensure the avoidance of risk and to respond to changes in market conditions. This staff report is presented as informational.
ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3).
FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? Yes
Where is it Budgeted? Interest Income
Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Nominal
STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.
Briefly Explain Relationship to Strategic Plan Goal and Objective. Quarterly Investment Reports provide timely information and financial transparency and allows the Council to help inform decisions related to maximizing economic opportunities to ensure prudent reserves.
ATTACHMENTS
See below for the March 2025 Quarterly Investment Report.
TOWN OF YOUNTVILLE
QUARTERLY INVESTMENT REPORT
AS OF March 31, 2025
Current Quarter Prior Quarter Change in
3/31/2025 12/31/2024 Quarterly
Fund Cash Balance Cash Balance Cash Balance
No. Fund Name
01 General Fund 2,317,365 2,481,036 (163,671)
02 OPEB (Retiree Benefits) 77,658 80,169 (2,511)
03 PERS UAL Reserve Fund 232,243 230,067 2,176
04 Emergency Reserve Fund - - -
05 Revenue Stabilization Fund - - -
06 Utlty Entprs Prjct Cmtd Fund 1,534,684 1,770,305 (235,621) 07 General Fund Reserve 5,501,249 5,449,706 51,543
20 State Gas Tax 195,494 176,193 19,302
21 Public Education & Govmnt TV 66,518 66,088 431
22 Tourism Improvement District 428,696 497,719 (69,023) 23 Public Arts Program Fee 31,262 14,727 16,535
24 Housing Grant Fund 90,024 89,180 843
25 Measure T Transportation Imp 682,827 534,601 148,226 26 SB1, 2017 Road Repair Act 196,862 174,814 22,049
27 Measure T Equivalent (MTE) 40,388 40,010 378
28 Fire Services - - -
29 UVDS Franchise Fees 421,315 370,665 50,650
30 Disabiliy Access Fee SB 1186 1,909 1,696 213
41 Civic Facilites Impact Fees - - -
42 Drainage Impact Fees - - -
43 Park Impact Fees - - -
44 Public Safety Impact Fees - - -
45 Traffic Facilities Impact Fees - - -
46 Utility Underground Impact Fees 120,842 119,699 1,143 47 Community Project Iimpact Fees - - -
50 Capital Projects 2,772,348 3,239,792 (467,444)
54 2017 Lease Bond-CommCtrRfnd 134,534 134,922 (388)
55 2020 Lease Bond 376,449 342,834 33,615
57 Draught Water Reserve 2,143,347 2,123,265 20,082
58 Water Impact Fees - - -
60 Water Capital Improvements 756,294 349,053 407,241
61 Water Utility Operations 1,101,953 985,099 116,853
62 Wastewater Utility Operations 1,258,566 1,364,331 (105,764) 63 Joint Treatment Capital Fund 5,535,733 5,404,840 130,893 64 Wastewater Utility Capital 814,631 712,087 102,545
65 Sewer Impact Fees - - -
70 Housing Opportunity Fund 197,490 187,306 10,184
71 Measure S, Affordable Housing 492,431 433,409 59,022 75 Measure A Maintenance Fund 344,927 341,695 3,232
81 Facilities Repair/Replacement 1,403,230 1,398,630 4,600 82 Fleet,Tools,Equip RepairReplc 681,136 674,754 6,382
92 OPEB Trust Fund Retiree Ben. 6,503,957 6,389,994 113,962 93 PRSP Trust Fund - Pension 3,497,580 3,423,234 74,345 95 Tallent Lane Benefit District - 181 (181)
96 Mesa Ct. Drainage Ben. Dist. - 504 (504)
39,953,944 39,602,605 351,338
Current Quarter Prior Quarter
3/31/2025 12/31/2024 Interest
Cash Balance Cash Balance Rate
Cash on Hand/Petty Cash 425 425 0%
Westamerica Bank Checking & Savings 3,684,317 4,805,254 0.070% LAIF 26,267,272 24,983,305 4.340%
Bank of New York Mellon (Trust) 394 394 0.000%
PRSP Trust Investments 1 3,497,580 3,423,234 9.470%
PARS OPEB Trust Investments 2 6,503,957 6,389,994 6.240% 39,953,944 39,602,605
Activity
# Issued From To Amount
Accounts Payable check range for the period:
Amount of Accounts Payable checks issued 471 62213 62666 4,194,640.07 Payroll check range for the period:
Amount of Payroll checks/direct deposits issued 334 26230 26248 681,285.66 1 5-year Annualized Return
2 10-year Annualized Return