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Escalon staff outline investment plan; federal CPF grant for surface water approved
Summary
Finance staff told the council ~92–93% of city funds are invested and discussed shifting money from LAIF into an Oak Valley Bank sweep for improved liquidity; the city manager reported a roughly $1.1 million federal CPF award for a surface water project pending administrative steps.
Finance staff provided the council a midyear investment briefing and recommended a cautious reallocation of some funds to increase liquidity and returns.
"We have about 92 to 93% of the city's money invested in any given time," the finance presentation said, and staff proposed moving portions held in LAIF into an Oak Valley Bank sweep account that earns a higher effective rate for balances above $3,000,000 while…
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