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Treasurer reports record investment income; council advances ordinance to centralize treasurer duties
Summary
City Treasurer Jason Schmidt told the council the city's investment income rose to a projected $15 million for FY26 and presented an ordinance (No. 4346) to revert administration of business license taxes, oil well taxes and municipal services fees to the treasury; council approved the ordinance introduction and asked staff to correct minor typos.
City Treasurer Jason Schmidt told the Huntington Beach City Council that the city posted a strong investment performance in the first half of FY26 and proposed code changes to centralize several tax‑and‑fee functions in the treasury.
Schmidt reported a 3.63% portfolio return for the first six months of FY26, producing about $7.5 million in investment income for that period and projecting $15 million for the fiscal year. "We are now projecting $15,000,000 of investment income for FY '26.…
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