City Council

14. \nASSIGNMENT OF INVESTMENT FUNDS, 3RD-PARTY REVIEW OF\nTREASURER’S HOURS\nRecommendations:\n(1) Authorize the City Manager to direct that at least $25 million in City\nfunds from the portfolio invested by the City Treasurer be allocated to\nMeeder Investment Management for investments aligned with cash flow\nneeds and consistent with the City’s Investment Policy, and that the City\nManager further examine the proper amount that should be categorized as\nsurplus funds in accordance with the July 2024 recommendations; and\n(2) Direct the City Manager to conduct a 3rd-party review of the hours\nrequired by an elected City Treasurer to perform those functions required by\nthe California Government Code and the Laguna Beach Municipal Code.