City Council Agenda
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Memo to: |
Manteca City Council |
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From: |
Shay Narayan, Director of Finance |
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Date: |
March 5, 2024 |
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Subject: |
Receive and File the Quarterly Investment Report |
Recommendation:
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Receive and file the quarterly investment report for the period ending December 31, 2023.
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Background:
The attached report provides an overview of the City’s investments as of December 31, 2023. This report was prepared by the City’s investment advisor, PFM Asset Management, who assists with the management of the City’s investment portfolio. The City’s strategy is to maintain sufficient cash to manage day-to-day activities and to utilize PFM to focus on longer-term investment activities.
All funds have been invested in compliance with California Government Code sections 53601 et seq. and with the Investment Policy approved by the City Council in March 2022.
I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the next six-month’s estimated expenditures.
Fiscal Impact:
No fiscal impact.
Documents Attached:
1. Attachment 1 - Investment Report December 31, 2023