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City finance director reports $156 million portfolio, rising maturities in 2026
Summary
The city's CFO reported a December 2025 portfolio book value of about $156 million, with roughly $28.5 million maturing in 2026 (including CDs and U.S. Treasuries); staff said the investment policy was reviewed externally and monthly oversight is in place.
Director Chung presented the quarterly investment portfolio report at the March 3 meeting and summarized the city's holdings and near-term maturities.
Chung said the city's book value was about $156 million, split roughly between $112 million in reserve funds and $44 million in liquid funds. The weighted-average maturity was reported at about 2.3 years. Chung highlighted a ladder schedule showing approximately $28.5 million of maturing investments in 2026 (about $12.5 million in CDs, $4 million in medium-term notes and about $12 million in U.S. Treasuries) and said staff will actively reinvest those proceeds.
The director noted the city now conducts monthly investment-review meetings involving the city manager and deputy city manager, meets quarterly with the investment advisory committee, and submitted the investment policy to the California Municipal Treasurers Association for an external review; the association certified the policy in its review. Chung said the city is monitoring five medium-term notes that carry ratings below A and that staff will report on any changes.
Why it matters: The portfolio and upcoming maturities affect cash management and reinvestment strategy; council asked for continued transparency on risk and benchmarking.
What happens next: Staff will inform council of reinvestment choices for maturing instruments during the coming quarters and will add benchmarking commentary into future reports.
