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City treasurer reports $15.55 million in cash and investments; staff explains LAIF liquidity and principal protections
Summary
City Treasurer presented the June 30, 2025 report showing $15.55 million in cash and investments and staff explained how the Local Agency Investment Fund (LAIF) operates and why the city’s principal is treated as protected and liquid.
Laguna Woods — The City Treasurer presented the monthly financial report for the period ending June 30, 2025, reporting total cash and investments of $15,550,003.70 and recommending the council receive and file the report. After the presentation, council unanimously voted to receive and file the report.
The treasurer gave account-level totals: general fund operating cash and investments of $8,600,000, general fund reserves of $3,700,000, special revenue funds of $3,100,000, and cash and cash equivalents of $1,010,553. The report listed $7,745,097 invested in the Local Agency Investment Fund (LAIF) and certificates of deposit totaling $6,794,007.20. The other-post-employment-benefits trust had an ending balance of $151,276 (net gain $3,808) and the pension liability trust had an ending balance of $298,114 (net gain $7,489). Receipts in the checking account totaled about $2,500,000, primarily the second property tax payment of $1,580,655 and a CDBG grant reimbursement of $150,000; the city budgets roughly $3,000,000 annually in property tax.
A member of the public asked follow-up questions about LAIF and principal protection. Finance staff explained LAIF is administered by the State of California as part of the Pooled Money Investment Account, described it as a very liquid, interest-bearing account for local agencies and emphasized it is not operated as a net asset value (NAV) fund, meaning the principal is not at risk in the way mutual funds can be. Staff said the pooled account’s portfolio is heavily weighted to stable securities (about 54% U.S. Treasuries, ~25% U.S. agency obligations, time deposits, commercial paper and very small corporate bond and loan exposure). The staff speaker said Laguna Woods holds only a small share (about $7.7 million) of the roughly $166.7 billion pool and that the city could withdraw funds if needed.
Action: Council voted unanimously to receive and file the City Treasurer’s Report for the month of June 2025.
