AGENDA ITEM
TO: HONORABLE MAYOR
AND MEMBERS OF THE CITY COUNCIL
FROM: CARLO TOMAINO
CITY MANAGER
BY: SHARON DEL ROSARIO
ADMINISTRATIVE SERVICES OFFICER/FINANCE DIRECTOR
SUBJECT:
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SCHEDULE OF INVESTMENTS AND MONTHLY TRANSACTION REPORT
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Summary:
The Schedule of Investments is a listing of all surplus funds invested for both the City and the Successor Agency to the former Signal Hill Redevelopment Agency, as of the date shown in the report. The monthly transaction report provides the changes in investments for the prior month.
Strategic Goal(s):
Goal No. 1 Financial Stability: Ensure the City’s long-term financial stability and resilience.
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Recommendation:
Receive and file.
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Fiscal Impact:
No fiscal impact is associated with the recommended action.
Background:
The Schedule of Investments dated February 29, 2024, shows the distribution of the City and its former Redevelopment Agency’s invested surplus funds, and the annualized interest for each investment listed. Also provided is the monthly transaction report detailing changes within the investment account.
Analysis:
In accordance with California Government Code Section 53646, all listed investments comply with the City's adopted Investment Policy. Funds are available to meet anticipated expenditure requirements for the next six months.
Attachments:
A. Investment Transaction Report
B. Schedule of Investments