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Finance Committee recommends keeping Belvedere funds in CalTrust after semiannual review
Summary
Staff told the committee CalTrust earned "over 460,000" last fiscal year and recommended maintaining allocations; members asked staff to gather comparative risk information before any change and voted unanimously to keep the current allocation.
The Finance Committee reviewed the city’s semiannual investment report and recommended keeping the majority of the fund balance in CalTrust. Helga Kotter, Director of Administrative Services, told the committee that "The CalTrust funds earned over 460,000 in interest last fiscal year and have generated 350,000 through the 1st 0.75 of this fiscal year," and staff recommended maintaining the current allocation as of March 31, 2026.
Committee members discussed relative risk and yield among CalTrust sub‑funds and the local agency investment fund (LAIF); Will Lyon highlighted liquidity and principal stability, saying the liquidity fund offers a "stable net asset value like a money market fund." Members asked staff to gather additional comparative information from CalTrust and LAIF before any reallocation. The motion to keep the current allocations passed unanimously on a roll-call vote.
