Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8B
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 Preliminary June 2025 Quarterly Investment Report.
DISCUSSION/BACKGROUND
This report represents the Town’s investment portfolio for the quarter ending June 30, 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 20, 2025. 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 allow the Council to help inform decisions related to maximizing economic opportunities to ensure prudent reserves.
ATTACHMENTS
See below for the Preliminary June 2025 Quarterly Investment Report.
TOWN OF YOUNTVILLE
QUARTERLY INVESTMENT REPORT
AS OF June 30, 2025
Current Quarter Prior Quarter Change in
6/30/2025 3/31/2025 Quarterly
Fund Cash Balance Cash Balance Cash Balance
No. Fund Name
01 General Fund 3,976,546 2,272,149 1,704,398
02 OPEB (Retiree Benefits) (13,362) 77,658 (91,020)
03 PERS UAL Reserve Fund 23,528 232,243 (208,715)
04 Emergency Reserve Fund - - -
05 Revenue Stabilization Fund - - -
06 Utlty Entprs Prjct Cmtd Fund 1,534,684 1,534,684 -
07 General Fund Reserve 5,501,249 5,501,249 -
20 State Gas Tax 171,359 195,494 (24,135)
21 Public Education & Govmnt TV 63,670 66,518 (2,849)
22 Tourism Improvement District 570,155 427,847 142,308 23 Public Arts Program Fee 26,233 31,233 (5,000)
24 Housing Grant Fund 90,024 90,024 -
25 Measure T Transportation Imp 851,155 682,827 168,328 26 SB1, 2017 Road Repair Act 216,491 196,862 19,629
27 Measure T Equivalent (MTE) 40,388 40,388 -
28 Fire Services - - -
29 UVDS Franchise Fees 470,127 421,315 48,812
30 Disabiliy Access Fee SB 1186 1,410 1,909 (499)
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 120,842 120,842 -
47 Community Project Iimpact Fees - - -
50 Capital Projects 2,539,109 2,770,988 (231,879)
54 2017 Lease Bond-CommCtrRfnd 32,899 134,534 (101,634) 55 2020 Lease Bond 31,975 376,449 (344,474)
57 Draught Water Reserve 2,143,347 2,143,347 -
58 Water Impact Fees - - -
60 Water Capital Improvements 667,202 756,305 (89,103)
61 Water Utility Operations 1,130,031 1,098,252 31,779
62 Wastewater Utility Operations 1,437,668 1,253,332 184,336 63 Joint Treatment Capital Fund 5,371,417 5,535,753 (164,336) 64 Wastewater Utility Capital 802,624 814,631 (12,008)
65 Sewer Impact Fees - - -
70 Housing Opportunity Fund 198,090 197,490 600
71 Measure S, Affordable Housing 608,659 492,431 116,228 75 Measure A Maintenance Fund 344,927 344,927 -
81 Facilities Repair/Replacement 1,365,458 1,403,230 (37,772) 82 Fleet,Tools,Equip RepairReplc 670,649 681,106 (10,457) 92 OPEB Trust Fund Retiree Ben. 6,441,707 6,304,716 136,991 93 PRSP Trust Fund - Pension 3,517,502 3,403,474 114,028 95 Tallent Lane Benefit District - - -
96 Mesa Ct. Drainage Ben. Dist. - - -
40,947,767 39,604,210 1,343,557
Current Quarter Prior Quarter
6/30/2025 3/31/2025 Interest
Cash Balance Cash Balance Rate
Cash on Hand/Petty Cash 425 425 0%
Westamerica Bank Checking & Savings 3,722,317 3,627,929 0.070% LAIF 27,267,272 26,267,272 4.269%
Bank of New York Mellon (Trust) (1,457) 394 0.000%
PRSP Trust Investments 1 3,517,502 3,403,474 8.340%
PARS OPEB Trust Investments 2 6,441,707 6,304,716 6.970% 40,947,767 39,604,210
Activity
# Issued From To Amount
Accounts Payable check range for the period:
Amount of Accounts Payable checks issued 528 62667 63170 4,035,019 Payroll check range for the period:
Amount of Payroll checks/direct deposits issued 437 26249 26281 917,862 1 5-year Annualized Return
2 10-year Annualized Return