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Carlsbad board approves 2026 work plan, reviews Q1 portfolio decline and broker controls
Summary
The Carlsbad Investment Review Board unanimously approved its 2026 annual work plan and heard a first-quarter portfolio review showing a net $34.2 million decrease, discussion of six out‑of‑compliance securities being held to maturity, and a unanimous motion to return with options on treasury resources and advisor support.
The Carlsbad Investment Review Board on an informational session unanimously approved its proposed annual work plan for calendar year 2026 and reviewed the first-quarter investment portfolio, staff said.
Presenter (speaker 4) introduced the work plan "for calendar year 2026," noting the Carlsbad Municipal Code requires each board to provide an annual plan and a subsequent report of accomplishments to the City Council. After brief questions about how the board could add items later, the chair moved to approve the work plan and the motion passed unanimously.
Staff then presented the fiscal year 2026 first-quarter investment review, summarizing quarter activity: "$47,800,000 in maturities, $66,500,000 in purchases, $39,000,000 of calls, a $13,800,000 decrease in overnight cash and a $34,200,000 net decrease in total portfolio," the presenter said. Staff framed oversight around three priorities: safety, liquidity and return.
The presenter flagged six…
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