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Finance committee receives and files Beaumont’s Q4 cash and investment report
Summary
The committee received and filed the city’s fourth-quarter (April–June) cash and investment report; staff reported $2.2 million in interest and realized gains and no policy exceptions. Staff recommended receipt and filing; the motion passed by voice vote.
The Beaumont finance committee voted to receive and file the city’s fourth-quarter cash and investment report covering April through June.
Lisa (Finance Director) told the committee the portfolio “has performed well,” reporting total interest and realized gains of $2,200,000 and itemizing $664,000 from the Public Trust portfolio, $530,000 from LAF, $387,000 from California class and $214,000 from the Wells Fargo sweep account. Lisa also reported the PARS Pension 115 Trust gained $324,000 and that the city made its budgeted contribution of $608,102 in June. Staff said there were no policy exceptions to report for the quarter and recommended the committee receive and file the report.
A member moved to receive and file the report; the motion was seconded and passed on a voice vote with no recorded dissents. The staff report will move forward to the next city council meeting following the committee’s review.
