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6.1.C. - Page 3 <br />FISCAL IMPACT <br />The City's portfolio received $755,268 in net interest earnings over the last quarter. All <br />interest earnings are allocated monthly through a preset methodology that spreads <br />earnings to the appropriate funds. Fees for PFM's services during this period were <br />$23,890, and are deducted from the total interest earnings. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under CEQA as defined in CEQA Guidelines, section <br />15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />SYLVIA BRAVO PETERS <br />DEPUTY TREASURER <br />KIMBRA MCCARTHY <br />TREASURER / ASSISTANT CITY MANAGER - ADMINISTRATIVE SERVICES <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br />ATTACHMENTS <br />1. PFM Asset Management Investment Performance Review <br />