REPORT TO COUNCIL
SUBJECT
Title
Action on Monthly Investment Report for June 2024
Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency
BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the monthly investment report for June 2024 is submitted for your information.
DISCUSSION
Typically, the Monthly Financial Status Report and the Monthly Investment Report are presented together. For the month of June, however, the investment report is presented separately. Staff will bring forward an analysis of the General Fund revenues and expenditures and the City's overall financial performance through June 30, 2024 at a later date as part of the FY 2023/24 Budgetary Year-End Report.
Monthly Investment Report (Attachment 1)
All securities held by the City of Santa Clara as of June 30, 2024 were in compliance with the City's Investment Policy Statement in terms of current market strategy and long-term goals and objectives. All securities held are rated "A" or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City's needs for the next six months.
The City's investment strategy for June 2024 was to invest funds not required to meet current obligations in securities listed in the prevailing Investment Policy Statement. This strategy ensures safety of the City's funds, provides liquidity to meet the City's cash needs, and has a reasonable portfolio return of 3.35% in June.
ENVIRONMENTAL REVIEW
The actions being considered do not constitute a "project" within the meaning of the California Environmental Quality Act ("CEQA") pursuant to section 15378(b)(4) of Title 14 of the California Code of Regulations in that they are fiscal activities that do not involve any commitment to any specific project which may result in a potential significant physical impact on the environment.
FISCAL IMPACT
There is no fiscal impact associated with th...
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