IA SR 20250902 C - IA Treasurer's Report July 2025
IMPROVEMENT AUTHORITY MEETING DATE: 09/02/2025
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration to receive the July 2025 Cash Balances/Monthly Treasurer’s Report for the
City’s Joint Powers Improvement Authority.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the July 2025 Cash Balances/Monthly Treasurer’s Report for the
City’s Joint Powers Improvement Authority.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Senior Accountant
REVIEWED BY: Vina Ramos, Director of Finance VR
APPROVED BY: Ara Mihranian, AICP, Chief Administrative Officer
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer’s Report for July 2025 (page A-1)
BACKGROUND AND DISCUSSION:
This monthly report summarizes the cash balance and investments for the month of July
2025 for the Joint Powers Improvement Authority (Improvement Authority) which includes
the Abalone Cove Permanent Fund and the Portuguese Bend Special Revenue Fund. A
separate report is also prepared monthly for the City’s General Fund, Capital
Infrastructure Program Fund, Special Revenue Funds, and Other Funds (see separate
agenda report on tonight’s Consent Calendar).
Summary of Cash and Investments by Fund
As of July 31, 2025, the cash balance of the Abalone Cove Permanent Fund increased
by $12,509, ending the balance at $1,163,550. The increase was due to Fiscal Year 2024-
25 fourth quarter interest earnings. This amount is invested in the Local Agency
Investment Fund (LAIF) with an average interest rate of approximately 4%.
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Similarly, the cash balance of Portuguese Bend Special Revenue Fund increased by
$338, ending the balance at $113,294. The increase was due to Fiscal Year 2024 -25
fourth quarter interest earnings and quarterly transfer in accordance with FY2024-25
budget. This amount is invested in the Local Agency Investment Fund (LAIF) with an
average interest rate of approximately 4%.
CONCLUSION:
Staff recommend that the City Council receive and file the Treasurer’s Report ending July
2025 for the City’s Joint Powers Improvement Authority.
ALTERNATIVES:
In addition to Staff recommendation, the following alternative action is available for the
City Council’s consideration:
1. Take other action, as deemed appropriate.
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