Agenda Item Wording:
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Accept the City of Visalia Cash and Investment Report - Accept the City of Visalia Cash and Investment Report for the first quarter of the fiscal year which consists of months July, August, and September of 2025.
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Prepared by: Jason Montgomery, Finance Manager, jason.montgomery@visalia.gov 713-4425; Renee Nagel, Finance and Technology Services Director renee.nagel@visalia.gov 713-4375
Department Recommendation: Staff recommends that the Council accept the City of Visalia Cash and Investment Report for the first quarter of the fiscal year which consists of months July, August, and September of 2025.
Summary:
The City accumulates significant cash assets before they are spent on a variety of governmental operations. For example, several large capital projects have accumulated substantial cash as they approach the start of the projects in the near future, or in some cases, have already begun. Some of these projects are the Civic Center Phase 2 project, cape seal of various streets, Shirk Street improvements, and the major rehab of Caldwell Avenue from Santa Fe to Lovers Lane. Money is also accumulated for future capital assets, such as solid waste trucks, and unforeseen things like potential mandated upgrades to the Water Reclamation Facility.
The quarterly investment report is intended to inform the City Council and community about the status of City investments and holds staff accountable for the investment and management of these funds.
Background Discussion:
The City's investments are diversified by the various maturities and credit types which are allowed under the City's Investment Policy and California Government Code Section 53600 et seq. It is the policy of the City to invest public funds in a manner which will provide the greatest security with the maximum investment return while meeting the daily cash flow demands of the City and conforming to all state and local statutes governing the investment of public fu...
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