Westminster City Council
SUBJECT
Title
Treasurer’s Report for November 2024.
End
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.
end
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 November 2024. All the City’s investments as of November 30, 2024, comply with the Investment Policy and the California Government Code.
City cash and investments increased by $695 thousand during the month of November with $12 million in receipts and $11.3 million in disbursements. Successor Agency cash decreased by $2.3 million during the month with $6 thousand in receipts and $2.3 million in disbursements. As of November 30, 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 November 2024.
REVIEWED BY
Erin Backs, Finance Director
Christian Bettenhausen, City Attorney
Christine Cordon, City Manager