Westminster City Council
SUBJECT
Title
Treasurer’s Report for July 2024.
End
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 the report.
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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 July 2024. All the City’s investments as of July 31, 2024, comply with the Investment Policy and the California Government Code.
City cash and investments decreased by $12.8 million during the month of July with $11 million in receipts and $23.8 million in disbursements. Successor Agency cash decreased by $1.8 million during the month with $210 thousand in receipts and $2 million in disbursements. As of July 31, 2024, 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
The Mayor and City Council are recommended to review the attached Treasurer’s Report and receive, and file said report as presented.
ATTACHMENTS
1. Treasurer’s Report for July 2024.
REVIEWED BY
Erin Backs, Finance Director
Christian Bettenhausen, City Attorney
Christine Cordon, City Manager