The City's investment policy limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. The City's investment policy states that the City shall not invest in securities with maturities exceeding five years. The City has elected to use the segmented time distribution method of disclosure for its interest rate risk.
As of June 30, 2025, the City had the following investments and maturities:
| Investment Type | Total | Less than 6 Months | 6 Months to 12 Months | 12 to 36 Months | 37 to 60 Months |
|---|
| California Local Agency Investment Fund | $ 2,048,197 | $ 2,048,197 | $ - | $ - | $ - |
|---|
| California Asset Management Program | 228,863,550 | 228,863,550 | - | - | - |
|---|
| Riverside County Treasurer's Pooled Investment Fund | 2,925,911 | 2,925,911 | - | - | - |
|---|
| U.S. Treasury Obligations | - | - | - | - | - |
|---|
| U.S. Agency Securities | 46,459,921 | 325,660 | 5,562,457 | 17,702,948 | 22,868,856 |
|---|
| Commercial paper | - | - | - | - | - |
|---|
| Certificates of deposit (negotiable) | - | - | - | - | - |
|---|
| Medium-term notes | 21,122,330 | 1,374,985 | - | 10,480,084 | 9,267,261 |
|---|
| Held by Fiscal Agent: | | | | | |
|---|
| Money Market Deposit Account | 60,456,717 | 60,456,717 | - | - | - |
|---|
| Total | $ 361,876,626 | $ 295,995,020 | $ 5,562,457 | $ 28,183,032 | $ 32,136,117 |
|---|
| Investment Type | Total | Less Than 6 Months | 6 Months to 12 Months | 12 Months to 36 Months |
|---|
| California Local Agency Investment Fund | $ 822 | $ 822 | $ - | $ - |
|---|
| California Asset Management Program | 6,619 | 6,619 | - | - |
|---|
| Riverside County Treasurer's Pooled Investment Fund | 373 | 373 | - | - |
|---|
| Investment in City Bonds | 73,000 | 37,000 | - | 36,000 |
|---|
| Held by Fiscal Agent: | | | | |
|---|
| Money Market Deposit Account | 31,573,695 | 31,573,695 | - | - |
|---|
| Total | $ 31,654,509 | $ 31,618,509 | $ - | $ 36,000 |
|---|
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the City's investment in this pool is reported in the accompanying financial statements at amounts based upon the City's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis.