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Page 1 of 2 <br />Item #6 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />July 16, 2024 <br />Finance <br /> <br />TITLE: ACCEPT THE MONTHLY DISBURSEMENTS AND INVESTMENT REPORT FOR <br />MAY 2024 <br /> <br />SUMMARY <br />Attached is the City of Pleasanton monthly disbursements and investment report for May 2024. <br /> <br />RECOMMENDATION <br />Accept claim disbursements in the amount of $16,146,892 and the investment report for the <br />month of May 2024. <br /> <br />BACKGROUND <br />The City's Investment Policy requires the Director of Finance to submit a monthly transaction <br />report to the City Council within 60 days of the end of the reporting period in accordance with <br />California Government Code Section 53607. <br /> <br />The Investment Policy also requires the Director of Finance to submit a quarterly report to the <br />City Council on the status of the City's investment portfolio no later than 45 days after the end <br />of each month. This report shall include the types of investments, the amount of money <br />invested with various institutions, purchase and maturity dates, and yield on investments. The <br />Director of Finance certifies that the investment portfolio is in compliance with the investment <br />policy and that it will meet cash flow needs for the next six months. <br /> <br />The staff report also includes check and electronic payment information for May 2024. <br /> <br />DISCUSSION <br />Monthly disbursements and investment report provides transparency of the City’s financial <br />transactions and payments for review by the City Council. Please note that the medium term <br />note with 3M Company is rated at A by Moody's and rated at BBB+ by S&P. A rating of A <br />indicates the investment grade is very high and a rating of BBB+ indicates the investment <br />grade is good. When this investment was purchased in 2019, it met the A rating category <br />required by the City's investment policy. This investment is scheduled to mature in February <br />2025. Staff has been monitoring this investment and will take action such as selling the <br />security before maturity if warranted. <br /> <br />EQUITY AND SUSTAINABILITY <br />Not applicable, as this item is a routine administrative matter of City business. <br /> <br />OUTREACH <br />No outreach was conducted, as this item is a routine administrative matter of City business. <br /> <br />Page 105 of 782