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Treasury seeks two investment managers as councilors press for consolidation and higher returns
Summary
Council members pressed the city’s treasury staff about investment management, the number of bank accounts and a projected fall in investment income.
Council members pressed the city’s treasury staff about investment management, the number of bank accounts and a projected fall in investment income.
Why it matters: the city’s interest and investment income affects general‑fund resources and the ability to fund services. Councilors questioned whether the city is getting best‑market returns and whether deposits could be used to support community reinvestment goals.
Treasury Treasurer Natalie Banks and Finance Director Paul Barrett told the committee that investments have been handled in recent years by…
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