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Finance commission reviews $110 million cash-pooling plan and monthly interest-allocation method
Summary
Staff described a centralized cash-pooling approach covering roughly $110,000,000 of city balances, operational ledger accounting to keep fund ownership distinct, and a monthly interest-allocation method based on average daily fund balances; commissioners asked about CalPERS timing and liquidity for known large payments.
City finance staff presented an informational briefing on centralizing the city's cash and the methodology for allocating interest and realized gains/losses across funds.
Staff said the city currently holds approximately $110,000,000 in total cash across operating bank accounts, the advisory-managed portfolio (about $67,000,000), limited reserve accounts, and a state/local liquidity vehicle used for daily access.…
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