Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Turlock treasurer reports strong liquidity, modest returns; proposes shifting into 4'5-year bonds
Summary
Treasurer Abraham told the City Council the city holds over $120 million in on-demand liquidity, the portfolio returned 2.67% in the first six months (about $7.7 million), and staff have increased holdings in 4'5-year bonds from about $20 million to $60 million to lock in yields.
Treasurer Abraham presented the city's investment portfolio and told the council the city is meeting its stated objectives of safety, liquidity and modest return.
"Our main objective is safety of principal," Abraham said, describing the portfolio's emphasis on short-term, high-quality bonds and a duty to diversify under the California Government Code and the city's policy. He said the portfolio…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
