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South Gate council approves investment reports and $4.58 million warrant register; some vendor invoices pulled for review
Summary
Council approved the city’s investment reports and a warrant register totaling $4,575,648.72. Finance staff explained that red figures in the investment report reflect unrealized gains and losses; three invoices from a vendor (345592-A/B/C) were pulled for additional review.
On April 8 the South Gate City Council approved the investment reports and two consent calendar items and approved a warrant register totaling $4,575,648.72. Staff explained the investment report’s negative figures as unrealized gains and losses, not realized portfolio losses.
Acting budget and finance manager Steven Aragon and City…
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