TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Tanner Benson, Financial Analyst
SUBJECT:
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Treasurer's Report - Quarter 2 of Fiscal Year 2024/25
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RECOMMENDATION
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Receive the Fiscal Year 2024/25 Treasurer's Reports for Quarter 2 (October - December 2024).
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PRIOR ACTION/VOTE
On August 20, 2024, the City Council received the Treasurer's Report for Quarter 4 of Fiscal Year 2023/24 (Vote: 5-0).
On November 19, 2024, the City Council received the Treasurer's Report for Quarter 1 of Fiscal Year 2024/25 (Vote: 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
Pursuant to Government Code Section 53646(b) and the City of Murrieta (City) Investment Policy, the Finance Department renders a quarterly investment report to the City Council concerning the investment portfolio's earnings and performance results. The City contracts with Chandler Asset Management to manage the City's investment portfolio and to advise on all investment-related matters. The purpose of this report is to present the investment earnings for the period October 1, 2024, through December 31, 2024 (Quarter 2).
Total Portfolio Composition
The portfolio comprises available cash balances from over 100 separate funds. The balances are tracked in the City's financial records individually but combined for the purpose of investing cash to maximize investment returns. The City's investment manager invests funds not needed in the near future into securities with maturities of less than five years, which is the maximum maturity limit allowed by the Government Code and the City's Investment Policy. The City also utilizes the Local Agency Investment Fund (LAIF), an investment pool operated by the State of California and used by most cities in California to manage the City's short-term cash fl...
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