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La Mesa treasurer reports record quarterly investment earnings of $824,164
Summary
Elected City Treasurer Matt Stbone told the council the city earned $824,164 in investment income for the quarter ending Sept. 30, the highest quarterly total in the city's history, and described the portfolio's emphasis on safety, liquidity and earnings.
La Mesa's elected city treasurer reported record investment earnings for the quarter ending Sept. 30, announcing $824,164 in income — the highest quarterly total the treasurer said the city has recorded.
Treasurer Matt Stbone summarized the city's investment approach and said the portfolio emphasizes safety first, liquidity second and earnings third. "Safety meaning we prioritize the principal of our invested funds above all else," he said. Stbone said the city has shifted more funds into liquid accounts that currently return healthy yields and that the quarter's performance puts the city on track to potentially set a calendar‑year record.
Stbone explained portfolio activity for the quarter, including matured CDs and agency securities, and said the portfolio earned about $824,164 for the quarter and would annualize to roughly $2.4 million based on recent returns. He also noted that the portfolio complies with the city's investment policy and relevant sections of the California Government Code.
Council members thanked the treasurer and asked follow‑up questions. There were no formal decisions tied to the presentation; the council received the report.
