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6.1. - Page 3 of 38 <br />FISCAL IMPACT <br />The City's portfolio received $987,686 in net interest earnings over the last quarter. All interest earnings <br />are allocated monthly through a preset methodology that spreads earnings to the appropriate funds. Fees <br />for PFM's services during this period were $24,073, and are deducted from the total interest earnings. <br />There is no additional budget appropriation required. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public Notification was achieved by posting the agenda. After approval, the Quarterly Investment Report <br />will also be posted on the City Website under Financial Information — Investments: <br />Redwood Citv Investments <br />ALTERNATIVES <br />The City Council can ask staff to provide the investment report in a different format, or to include <br />different information. Staff could return at a future Council meeting with an updated report. <br />ATTACH M E NTS <br />Attachment A: PFM Asset Management Investment Performance Review <br />REPORT PREPARED BY: <br />Sylvia Peters, Deputy Treasurer/ Principal Analyst - Finance <br />speters@redwoodcity.org <br />780-7073 <br />APPROVED BY: <br />Kimbra McCarthy, Treasurer / Assistant City Manager and Administrative Services Director <br />Melissa Stevenson Diaz, City Manager <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcitV.org <br />182 <br />