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Finance commission presses for clearer investment reporting, forward-looking six‑month cash forecasts
Summary
Members and staff agreed the city should separate restricted and unrestricted cash in investment reports and produce forward-looking six‑month cash outlay projections on a regular schedule so the commission can provide timely oversight.
South Pasadena’s Finance Commission spent most of its meeting on an investment policy review, urging changes to how the city presents investment and cash information to the commission and to City Council.
Commissioners and staff agreed the current reports do not separate restricted funds (for example, water‑enterprise bond cash) from unrestricted cash and therefore do not give a clear picture of the city’s available operating resources. Commissioners pressed for revisions to the investment policy language to require that restricted and unrestricted balances be identified and that the six‑month cash forecast be calculated using unrestricted cash.
The commission also asked staff to provide a forward‑looking six‑month cash‑outlay projection to the commission on a repeating schedule,…
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