IA SR 20260804 E - June 2026 Treasury Report - IAIMPROVEMENT AUTHORITY MEETING DATE: 08/04/2026
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consider the June 2026 Cash Balances/Monthly Treasurer’s Report for the City’s Joint
Powers Improvement Authority.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1)Receive and file the June 2026 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 June 2026 (page A-1)
BACKGROUND:
This monthly report summarizes the cash balance and investments for the month of June
2026 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).
DISCUSSION:
Summary of Cash and Investments by Fund
At the end of June 30, 2026, the cash balance of the Abalone Cove Permanent Fund
decreased by $15, bringing the balance to $1,199,970. The decrease was due to a
disbursement to Southern California Edison (SCE) for the utility bills. This amount is
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invested in the Local Agency Investment Fund (LAIF) with an average interest rate of
approximately 3.8%.
Similarly, the cash balance of the Portuguese Bend Special Revenue Fund remained the
same at $116,844.
As part of the year-end closing process, Staff is in the process of reviewing any
outstanding invoices and processing year-end adjustments. Staff will present the final
Treasury Report when the year end is closed.
CONCLUSION:
Staff recommend that the Improvement Authority receive and file the Treasurer’s Report
ending June 2026 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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