Agenda

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City Council Regular Meeting

Meeting Date:

04/25/2023

BACKGROUND

Per the Public Funds Investment Act (PFIA) Section 2256.23 of the Government Code and Section IV Investment Reporting of the City's Adopted Investment Policy and Strategy, Investment Reports will be presented to the City Council no less than quarterly.

Quarterly, Staff will submit to council unaudited financial reports as an update on the City's fiscal and budget performance. Some payments that must be recorded in this quarter can occur months after the close of the period. In those cases, staff attempts to estimate the value based on prior year's fiscal performance and current year trends. The Comprehensive Annual Financial Report to be published after the fiscal year-end will include actual revenue and expenses for the accounts estimated in the quarterly financial report.

Attachments
1st Qtr Financial Report
1st Qtr Investment Report