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Upland reports $142 million in cash and investments; sales tax projection to fall $1.7 million
Summary
Assistant City Manager Steven Parker told the finance committee that Upland's pooled investments grew from about $125 million in September 2024 to about $142 million in March 2025 and that staff expects a $1.7 million drop in next year's sales-tax projection, a consideration for the May 19 budget workshop.
Assistant City Manager Steven Parker told the Upland Finance Committee on April 30 that the city's cash and investments increased from about $125,000,000 in September 2024 to about $142,000,000 in March 2025.
Parker said the city's blended investment yield has risen to 3.15% from 3.02% in September. "We have dollars 125,000,000 in September of 24, up to 142,000,000 in March of 25," Parker said, adding that a seasonal rise in property-tax receipts in April typically produces another increase in the portfolio between April and June.
Why it matters: The portfolio growth and higher yields provide an additional…
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