Dana Point committee backs staff plan to allow CAMP pool after PFM presentation

The Dana Point Financial Review Committee voted Sept. 12 to direct city staff to prepare an updated investment policy that would allow the city to participate in the California Asset Management Program (CAMP), following a presentation from PFM Asset Management on pooled and separately managed investment options.

PFM presenters Leslie Murphy and Kyle Tanaka told the committee the firm manages both discretionary and advisory accounts for public agencies and emphasized a tailored approach based on the city’s cash-flow needs. "We put communication and client service first and foremost," Murphy said, describing PFM’s experience managing public-agency funds in California. PFM’s cash-flow model estimated the city has roughly $27 million in investable liquidity and projected, under current growth trends, that investable balances could approach $70 million by January 2025 (assuming a 15% liquidity cushion).

The presentation compared…