Title
Recommendation to Accept the Investment Transactions Report and Annual Investment Report for the Fiscal Year Ending June 30, 2024. [City Council and SACIC] (Finance 10024051)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
This report presents the City of Alameda's (City) Investment Transactions Report for the Fourth Quarter Ending June 30, 2024, and an Annual Investment Report which provides a status of the current investment portfolio over the past fiscal year. This report lists all the City's investments and computes average yield and average life of the portfolio and all required elements shown in the Investment Transactions Report for each investment of the City's overall portfolio.
The report has been prepared to comply with regulations contained in California Government Code Section 53646, and the City's Investment Policy is in compliance with its Statement of Investment Policy updated September 5, 2023. The information provided on the report is prior to the recent changes to the Investment Policy updated in July 2024.
The City's Investment Portfolio is in compliance with its Statement of Investment Policy. The City has sufficient funds to meet its pool's expenditure requirements for the next six months. This report has been reviewed and approved by the City Treasurer, Mr. Kevin Kennedy.
BACKGROUND
In accordance with the Investment Policy, an Investment Transactions Report is provided to City Council for review each Quarter, and an Annual Investment Report is provided to City Council at the end of the fiscal year. Attached is the Investment Transactions Report for the Quarter Ending June 30, 2024 (Exhibit 1) and the Annual Investment Report for the Fiscal Year Ending June 30, 2024, which provides a status of the current investment portfolio over the past fiscal year (Exhibit 2).
DISCUSSION
The City utilizes U.S. Bank as its third-party custodian for safekeeping of all inv...
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