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Page 1 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />DATE: May 11, 2026 <br />SUBJECT <br />Investment report for the period ending March 31, 2026 <br />SUMMARY <br />One of the City Council’s primary responsibilities over the investment function includes reviewing <br />quarterly investment reports issued by the City Treasurer. The quarterly investment report discloses to <br />the public that the City invests public funds in such a manner as to comply with all federal, state, and local <br />statues governing the investment of public funds; ensures prudent money management; and meets the <br />objectives of the Investment Policy, in priority order of safety, liquidity, return on investment, and <br />sustainability. <br />RECOMMENDATION <br />By motion, approve the City's investment report for the period ending March 31, 2026. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Excellence in Government Operations <br />BACKGROUND <br />The City has an investment portfolio that consists of reserves and fund balances held by the City for <br />general operations, capital projects, utilities, and various other special purpose funds. <br />In June 2016, the City Council adopted an investment policy that requires staff to provide an Investment <br />Report to Council at a public meeting. In July 2016, the City hired an investment manager, PFM Asset <br />Management LLC (PFMAM), to manage the City’s funds pursuant to the newly adopted policy. In July <br />7.C. - Page 1 of 71 <br />17