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Redondo Beach treasurer reports Q3 investment performance; commission accepts report
Summary
City Treasurer Eugene Solomon and Deputy Treasurer Nilesh Mehta presented the third-quarter investment report, including portfolio changes, yields and cash reserves. The Budget & Finance Commission voted to accept and file the report.
Redondo Beach City Treasurer Eugene Solomon presented the city’s third-quarter investment and portfolio report and the Budget & Finance Commission voted to accept and file the document.
The report, delivered by Solomon and Deputy City Treasurer Nilesh Mehta with commentary from Greg Balz of METR Investments on Zoom, summarized the city’s portfolio, quarterly returns and recent transactions. Solomon told the commission the portfolio met cash-flow needs for the quarter and reported a year-to-date interest-earnings figure that the presentation listed in different slides as $1.6 million and noted the general fund’s share is approximately 60%, about $963,000 toward the general fund year to date. Solomon said…
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