FROM:
Jeff Zuba, Finance & Administrative Services Director
SUBJECT:
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Quarterly Treasurer’s Investment Report, December 31, 2021
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RECOMMENDATION
recommendation
That Council approve the Treasurer’s Investment Report for the quarter ending December 31, 2021.
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BACKGROUND
The Treasurer’s Investment Report is a quarterly itemization of the market value of Town investments. The purpose of this report is to present financial information for review and discussion.
ANALYSIS
The attached report itemizes the Town’s investments and states the market value of each investment as of December 31, 2021. The Wells Fargo bank account is the Town’s primary checking account used for the deposit and expenditure of operating funds. The Bank of America checking account is a controlled account used for payroll processing only.
The Town maintains two Local Agency Investment Fund accounts (LAIF) for the purpose of maximizing interest income on funds not needed for immediate expenditure. One LAIF account is for investment of general operating funds. The other is for the remaining series 2003 Measure G bond proceeds, required by law to be maintained in a segregated account.
CONCLUSION
The Town’s cash balances as of December 31, 2021, are $13,581,078 which is $5,207,747 more than the balances at this time last year. This increase is driven by timing of cash flow between money received versus money to be paid out the following period.