DATE: September 17, 2025
TO: Honorable Mayor and City Councilmembers
FROM: City Treasurer's Office
TITLE: CITY TREASURER'S REPORT - QUARTER ENDED JUNE 30, 2025
RECOMMENDATION
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The City Treasurer and staff recommend that the City Council accept the City Treasurer's Report for the quarter, and year ended June 30, 2025.
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BACKGROUND AND ANALYSIS
The City's Investment Policy requires the City Treasurer to submit a quarterly investment report to the City Council which provides full disclosure of the City's investment activities.
The goal of the City Treasurer's Office is to make investments in conformity with the investment policy adopted by the City Council on June 18, 2025. The quarterly City Treasurer's report is intended to provide an awareness of the activity and performance of the City's investment portfolio.
As of June 30, 2025, the City had $34,512,893 in its operating account, $1,046,605 in Local Agency Investment Fund (LAIF), and $79,504,569 in California Asset Management Program (CAMP). The City has adequate funds to meet its cash flow requirements for the next six months.
The book value of the City's investment portfolio at the quarter ended June 30, 2025, was $537,673,753 (book value is the cost of the security plus any amortization or accumulation of premiums or discounts). The June 30, 2025, portfolio book value increased by $25.2 million (or 4.9 percent) over the June 30, 2024, portfolio book value. As shown in the following table, the book value of the City's primary investment portfolio has increased by $14 million from the prior quarter ended March 31, 2025. As of June 30, 2025, the average purchase yield to maturity was 3.71 percent for this account.
The City's Investment Policy requires the City Treasurer to submit a quarterly investment report to the City Council which provides full disclosure of the City's investment activities.
City of Oceanside
Rolling Quarterly Comparison
June 30, 2025
Mar 31, 2025
Dec 31, 2024
Sept 30, 2024
June 30, 2024
Book Value
$537,673,753
$523,558,450
$519,311,383
$515,693,539
$512,413,255
Market Value
543,362,200
525,561,294
515,393,716
518,331,278
501,457,837
Unrealized Gain/ (Loss)
5,688,447
2,002,844
(3,917,667)
2,637,738
(10,955,418)
Unrealized Gain / (Loss) as a % of Book Value
1.06%
0.38%
-0.75%
0.51%
-2.14%
Average Purchase YTM
3.71%
3.57%
3.48%
3.31%
3.13%
Quarterly Earnings
4,770,309
4,508,196
4,443,140
4,809,296
4,002,989
LAIF deposits
1,046,605
1,035,196
1,023,296
1,011,302
1,000,000
CAMP deposits
79,504,569
67,661,808
40,984,666
24,688,668
37,257,817
Operating Account
(U.S. Bank)
34,512,893
19,960,271
20,532,676
14,613,422
41,104,223
** Previous Quarterly reports reflected consolidated Book and Market Values. Updated table reflects Investment portfolio values only.
The LAIF deposits ended the quarter with a yield of 4.269 percent, representing a decrease from the prior quarter yield of 4.313 percent. LAIF is part of a Pooled Money Investment Account which gives local agencies the opportunity to participate in a major portfolio using the State Treasurer's Office at no additional cost to the taxpayer.
The CAMP deposits ended the quarter with a yield of 4.40 percent, representing a decrease from the prior quarter yield of 4.47 percent. CAMP is a California Joint Powers Authority ("JPA") established in 1989 to provide California public agencies with professional investment services. These investments are permitted for all local agencies under California Government Code Section 53601(p).
In accordance with our Investment Policy, the City receives a monthly report from the Bank of New York Mellon listing all securities with current market data. The City reconciles this report against a monthly ClearWater holdings report provided by Chandler Asset Management.
FISCAL IMPACT
No fiscal impact
COMMISSION OR COMMITTEE REPORT
The members of the Citizen Investment Oversight Committee (CIOC) reviewed the quarterly report for the quarter, and year ended June 30, 2025, at the August 12, 2025, CIOC meeting and accepted its contents. The members of the CIOC confirm that the investments are in compliance with California State Code and the City's adopted Investment Policy, and that the portfolio is managed in a satisfactory manner.
CITY ATTORNEY'S ANALYSIS
Not applicable.
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Prepared by: Silvia Twardy, Supervising Accountant
Reviewed by: Jill Moya, Financial Services Director
Submitted by: Phyllis Dominguez, City Treasurer
ATTACHMENTS:
1. Staff Report
2. Quarterly Report
3. Annual Report