IA SR 20251202 C - Oct 2025 IA Treasurer Reports
IMPROVEMENT AUTHORITY MEETING DATE: 12/02/2025
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consider the October 2025 Cash Balances/Monthly Treasurer’s Report for the City’s Joint
Powers Improvement Authority.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the October 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 October 2025 (page A-1)
BACKGROUND AND DISCUSSION:
This monthly report summarizes the cash balance and investments for the month of
October 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 prepared each month for the City’s General Fund, Capital
Infrastructure Program Fund, Special Revenue Funds, and Other Funds (see separate
agenda report on this evening’s Consent Calendar).
Summary of Cash and Investments by Fund
As of October 31, 2025, the cash balance of the Abalone Cove Permanent Fund
increased by $12,578, bringing the balance to $1,176,129. The increase was due to Fiscal
Year 2025-26 first 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 the Portuguese Bend Special Revenue Fund increased by
$1,226 for the same reason with the ending balance at $114,520.
CONCLUSION:
Staff recommend that the Improvement Authority receive and file the Treasurer’s Report
ending October 2025 for the City’s Joint Powers Improvement Authority.
ALTERNATIVES:
In addition to staff’s recommendation, the following alternative action is available for the
Improvement Authority’s consideration:
1. Take other action, as deemed appropriate.
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