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Committee keeps CalTrust allocation after semiannual review
Summary
The finance committee recommended maintaining the city's current CalTrust allocation after staff reported CalTrust returns and recommended no change; members approved the recommendation unanimously.
City staff recommended maintaining the current CalTrust allocation after a semiannual investment review. Helga Cotter reported that CalTrust funds earned more than $460,000 in interest last fiscal year and $124,000 in the first quarter of the current fiscal year, and that most of the city's fund balance is invested in the liquidity fund to preserve stable net asset value.
Chair McCaskill called for a motion to keep the existing allocation, which committee members moved, seconded and approved by unanimous roll call. Cotter said staff and the finance chair will continue to review investments quarterly and recommend adjustments if Federal Reserve changes affect yield.
