City Council Agenda
Memo to:
Manteca City Council
From:
Matthew Boring, Interim Finance Director
Prepared by:
Melissa Munoz, Accounting Manger
Date:
June 3, 2025
Subject:
Update of Designated City Officials Authorized for the Local Agency Investment Fund (LAIF)
Recommendation:
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Adopt a resolution authorizing the participation of the City of Manteca in the Local Agency Investment Fund (LAIF) and the Designation of Authorized City Officials, and rescinding Resolution No. R2022-84
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Background:
The City of Manteca utilizes the Local Agency Investment Fund (LAIF) to deposit funds in excess of the internal minimum guidelines established for cash in the general checking account. The City previously adopted Resolution R2022-84 authorizing the City’s participation in LAIF and designating authorized City officials. The individuals listed on the original resolution have either separated employment or positions in the department have been realigned, making it necessary to update the resolution on with file with LAIF.
Fiscal Impact:
There is no fiscal impact associated with this item.
Documents Attached:
1. Attachment 1 - Resolution