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CITY OF
MURRIETA
File #: 24-673    Version: 1
Type: Consent Calendar Status: Agenda Ready
File created: 5/9/2024 In control: City Council
On agenda: 6/4/2024 Final action: 6/4/2024
Effective date:    
Title: Monthly Investment Transaction Report for April 2024
Code sections: GC 53607 - Delegation of Authority
Attachments: 1. ATT 1 - Chandler Asset Management Monthly Account Statement for April 2024, 2. ATT 2 - Local Agency Investment Fund April 2024, 3. ATT 3 - Wells Fargo Cash Sweep Program April 2024 Statement
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL

FROM: Javier Carcamo, Finance Director

PREPARED BY: Geovanny Calvopina, Financial Analyst

SUBJECT:
title
Monthly Investment Transaction Report for April 2024
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RECOMMENDATION
recommendation
Receive and file the Monthly Investment Transaction Report for April 2024.

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PRIOR ACTION/VOTE
None.

CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.

BACKGROUND
This report is filed with the City Council in compliance with Government Code Section 53607, which states that a monthly report of transactions related to the purchase, sale, or exchange of securities is made monthly to the legislative body. The City of Murrieta (City) has both long-term and short-term investments. The City's managed investment portfolio is for longer-term investments, managed by Chandler Asset Management. The Local Agency Investment Fund (LAIF), managed by the California State Treasurer, is used for short-term investments and functions more like a savings account to facilitate cash flow.

This report includes funds under management from Chandler Asset Management, funds deposited with LAIF, and earnings from the Wells Fargo Cash Sweep Program. Bond funds held by the City's Trustee are not included in this report but are on file and available upon request.

The transactions in the long-term investment portfolio for April 2024 include dispositions of $9,438,967.94 in cash, payables, receivables, maturities, and sales, which also includes a withdrawal for bank fees of $363. Subsequently, these proceeds, together with the dispositions and monthly interest earnings, were reinvested in security and money market fund purchases totaling $9,597,145.99.

The California State Treasurer allocates and reinvests LAIF interest earnings every quarter. The statement reflecting the quarterly interest earnings is available one month afte...

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