DATE: January 8, 2025
TO: Honorable Mayor and City Councilmembers
FROM: City Treasurer's Office
TITLE: CITY TREASURER'S REPORT - QUARTER ENDED SEPTEMBER 30, 2024
RECOMMENDATION
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The City Treasurer and staff recommend that the City Council accept the City Treasurer's Report for the quarter ended September 30, 2024.
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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 26, 2024. 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 September 30, 2024, the City had $14,613,422 in its operating account, $1,011,302 in the Local Agency Investment Fund (LAIF), and $24,688,668 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 September 30, 2024, was $541,405,109 (book value is the cost of the security plus any amortization or accumulation of premiums or discounts). The September 30, 2024, portfolio book value increased by $22 million (or 4.2 percent) over the September 30, 2023, portfolio book value. As shown in the following table, the book value of the City's primary investment portfolio has decreased by $9.3 million from the prior quarter ended June 30, 2024. The decrease in book value is attributed to a withdrawal from CAMP in September, needed to meet the City's operating expenses. As of September 30, 2024, the average purchase yield to maturity was 3.40 percent for this account.
City of Oceanside
Rolling Quarterly Comparison
Sept 30, 2024
June 30, 2024
Mar 31, 2024
Dec 31, 2023
Sept...
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