Report to Mayor and City Council
Tuesday, March 19, 2024
Consent
SUBJECT:
Title
CONSIDER MONTHLY INVESTMENT AND CASH REPORT FOR THE CITY OF CARSON, CARSON HOUSING AUTHORITY, CARSON SUCCESSOR AGENCY-MONTH ENDING FEBRUARY 29, 2024 (CITY COUNCIL)
Body
I. SUMMARY
Submitted to the Mayor and City Council is the monthly Investment and Cash Report for the City of Carson, former Successor Agency and Carson Housing Authority for the month ending February 29, 2024. Following are the total reserves and cash on hand for the City of Carson and each Carson entity:
City of Carson reserves (Invested assets): $ 216,345,267.06
City of Carson available cash: $42,943,957.46
Restricted funds for the city of Carson include cash on hand and reserves for the Successor Agency, Housing Authority and Co-Op Agreement:
Total City of Carson restricted funds: $15,227,833.33
II. RECOMMENDATION
Recommendation
RECEIVE and FILE.
Body
III. ALTERNATIVES
TAKE another action the Council deems appropriate.
IV. BACKGROUND
The Investment and Cash Report is submitted monthly to the Mayor and City Council to keep them informed about the reserves and available cash for each Carson entity. This report encompasses reserves for the City of Carson, former Successor Agency, and the Housing Authority.
The investment program outlined in the report ensures adequate liquidity to cover six months of estimated expenditures. All investments adhere to California state code 503600, the City of Carson Investment Policy, and any relevant bond indentures.
V. FISCAL IMPACT
None
VI. EXHIBITS
1. Summary of Cash (Pg. 3)
2. City of Carson Investment (Pgs.4-6)
3. City of Carson Successor Agency Investments (Pg.7)
Prepared by: Monica Cooper, City Treasurer