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Needles council approves moving surplus funds into state investment pool (LAIF) for liquidity and yield
City Council, City of Needles · July 10, 2025
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Summary
Council approved an updated investment policy to place excess city funds into the state Local Agency Investment Fund (LAIF) to improve liquidity and capture a current ~4.48% return; staff emphasized safety, same-day liquidity, and that the policy will be reviewed annually.
The City of Needles voted to adopt a revised investment policy that directs the city to place surplus or excess funds into the state Local Agency Investment Fund (LAIF) to achieve greater yield and same-day liquidity. Staff said the pool currently returns approximately 4.48% and carries low risk…
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