As part of its treasury responsibilities, Administrative Services manages:

• The City’s investment program;
• Debt administration, including compliance with Federal arbitrage rebate regulations and the Securities and Exchange Commission’s continuing disclosure requirements;
• Banking services and relationships;
• The periodic updates to the Statement of Investment Policy;
• the Summary of Services Charges (the revised service charges are effective July 1, 2023); and,
• State-Mandated Cost Recovery (SB90) claims.

Utilizing investment advisory services, the City’s cash assets are actively managed by continuously investing all cash resources not immediately required for disbursement, in very conservative, secure investments on a daily basis. Current investments include the State Treasurer’s Local Agency Investment Fund, U.S. Treasuries, and U.S. Government Agency securities.

The Fiscal Services Division prepares a Monthly Investment Report for City Council.

Staff Responsibilities

Staff is also responsible for meeting all compliance requirements with respect to the Securities and Exchange Commission Rule 15c2-12(b)(5) for all applicable bond issues, providing bond administration, including payment requisitions (draw-downs) of funds representing capital improvement project costs, tax roll levies, timely debt service payments, and payoff calculations as required on all of the City’s bond issues.

Contact

Assessment District questions should be directed to the Deputy Director/Fiscal Services at 805-583-6803.

Department of Administrative Services
Administrative Services Director
Carolyn Johnson

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