Westminster City Council
SUBJECT
Title
Treasurer’s Report for December 2023
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publichearing
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From: Erin Backs, Finance Director
Requested by: Administration
Prepared by: Erin Backs, Finance Director
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RECOMMENDED ACTION
Recommendation
Receive and file.
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BACKGROUND
The attached Treasurer’s Report lists the various types of securities, institutions from which the securities were purchased, maturity dates, and interest rates for all securities held in the City’s investment portfolio as of the end of December 2023. All the City’s investments as of December 31, 2023, comply with the Investment Policy and the California Government Code.
City cash and investments decreased by $952 thousand during the month of December with $10.2 million in receipts and $11.2 million in disbursements. Successor Agency cash remained the same during the month with $420 thousand in receipts and $420 thousand in disbursements. As of December 31, 2023, the city had adequate cash reserves necessary to meet its obligations.
FISCAL IMPACT
No fiscal impact associated with this action.
LEGAL REVIEW
The City Attorney’s Office has reviewed as to form.
CONCLUSION
Review and consider to receive and file said report as presented.
ATTACHMENTS
1. Treasurer’s Report for December 2023.
REVIEWED BY
Erin Backs, Finance Director
Christian Bettenhausen, City Attorney
Christine Cordon, City Manager