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Lemoore reports $81 million in invested assets; council approves consent calendar
Summary
Finance staff reported a total cash and invested portfolio of about $81,000,000 at quarter end; the council accepted the informational report, and approved the consent calendar (5–0), including a second‑reading ordinance adopting a planned unit development at 109 Hamlet Street.
The Lemoore City Council received an informational investment report at its Feb. 3 meeting showing a total cash and invested portfolio of approximately $81,000,000 for the reporting quarter. Finance staff member Jocelyn told the council the city uses a mix of managed portfolios through US Bank, the State’s LAIF program and the CAMP pooled fund, and said staff moved some funds from CAMP into LAF during the quarter to capture higher yields.
"Our investments are strong. Our investments are meeting our goals," Jocelyn said, adding that staff monitor interest‑rate shifts and ladder investments across maturities.
The council approved the consent calendar by a 5–0 vote, which included: approval of minutes (01/20/2026), information‑only fire department update for December 2025, the quarter‑end investment report, the second reading of Ordinance 2026‑2 adopting Planned Unit Development 2025‑01 at 109 Hamlet Street, and several task orders and final maps.
Council members praised staff work on the portfolio and asked clarifying questions about the $81 million figure (which represents pooled funds across multiple city accounts and is not just one year’s revenue). Because the investment item was informational, no formal action was required beyond acceptance; the consent calendar vote bundled the listed items into one motion that passed unanimously.
The council will continue routine oversight of the portfolio and noted the report as part of regular fiscal monitoring.
