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Finance committee receives quarterly treasurer's report; Chandler cites strong portfolio performance and $75M unencumbered funds
Summary
Selena introduced a new quarterly treasurer's report and Carl Meng of Chandler reviewed economic conditions and portfolio performance (portfolio market value ~ $112.7M; consolidated holdings ~$134.1M). Committee discussed $75M of appropriated but unencumbered funds and a $115M CIP carryover; the report was received.
The Salinas Finance Committee on Dec. 2 received a quarterly treasurer's report outlining where city monies are held, reserves, and the investment portfolio's recent performance.
Selena presented the treasurer's report, explaining the city's day-to-day cash at banking institutions versus custodial holdings (BNY) and the role of the Local Agency Investment Fund (LAIF) as a short-term buffer. She summarized carryover funds, saying the city has roughly $115 million in CIP carryover across funds, and cited large encumbered projects such as…
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