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The memorandum discusses the Second Quarter Financial Reports for Fiscal Year 2024-2025, covering various financial management programs within the City of San José. It includes updates on Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management activities for the quarter ended December 31, 2024. The report recommends acceptance of these financial reports and their referral to the City Council for full adoption. The memorandum is prepared by Maria Öberg, Director of Finance, and is scheduled for review by the Public Safety, Finance and Strategic Support Committee on February 20, 2025.
Key points
The memorandum is regarding the Second Quarter Financial Reports for Fiscal Year 2024-2025.
It covers updates on Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management.
The recommendation includes accepting the financial reports and referring them to the City Council for adoption.
The report provides a summary of financial activities for the quarter ended December 31, 2024.
The memorandum is prepared by Maria Öberg, Director of Finance.
Limitations
The document contains placeholders such as 'Date:' without filled information.
Some sections of the report are truncated and may lack complete information.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 226,202 chars
PSFSS COMMITTEE AGENDA: 02/20/25 ITEM: (d)1. TO: PUBLIC SAFETY, FINANCE AND STRATEGIC SUPPORT COMMITTEE SUBJECT: Second Quarter Financial Reports for Fiscal Year 2024-2025 Approved FROM: Maria Öberg DATE: January 31, 2025 Date: 2/10/2025 COUNCIL DISTRICT: Citywide RECOMMENDATION (1) Accept the Second Quarter (period ended December 31, 2024) Financial Reports for Fiscal Year 2024-2025 for the following programs: (a) Debt Management; (b) Investment Management; (c) Revenue Management; and (d) Purchasing and Risk Management; and (2) Refer and cross-reference the Second Quarter Financial Reports for Fiscal Year 2024-2025 to the March 11, 2025, City Council meeting for full adoption. SUMMARY AND OUTCOME Provide the quarterly updates on debt management, investment management, revenue management, purchasing, and risk management activities. BACKGROUND The attached Second Quarter Financial Reports for Fiscal Year (FY) 2024-2025 (quarter ended December 31, 2024) (Financial Reports) present the quarterly activity for the City of San José (City) Finance Department’s Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management programs (Attachment A)....
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The source text indicates this attachment appears to be a draft document.
This document appears to be a draft of the Second Quarter Financial Report for Fiscal Year 2024-2025, prepared for the Public Safety, Finance and Strategic Support Committee. It includes sections on debt management, investment management, revenue management, and purchasing and risk management, detailing outstanding debt, investment performance, revenue collection efforts, and purchasing transactions.
Key points
Outstanding debt as of December 31, 2024, is reported at $4.25 billion.
The fiscal year 2024-25 debt issuance is noted as $76.8 million.
The total investment portfolio is valued at approximately $2.43 billion with an earned interest yield of 3.411%.
Total revenue for FY 2023-24 is reported at $4.231 billion.
Purchasing transactions include 401 purchase orders executed in the second quarter.
Limitations
The document contains unresolved placeholders and lacks specific details in some sections.
The document appears to be a draft, which may not include finalized data or conclusions.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 15,981 chars
COMMITTEE AGENDA: FEBRUARY 20, 2025 ITEM: (d)1. ATTACHMENT A SECOND QUARTER FINANCIAL REPORT FISCAL YEAR 2024-2025 Public Safety, Finance and Strategic Support Committee Prepared by the Finance Department January 31, 2025 SECOND QUARTER DECEMBER 2024 DEBT MANAGEMENT REPORT FISCAL YEAR 2024-2025 2 OUTSTANDING DEBT ISSUED (CITY AND ALL AGENCIES) Outstanding Debt ($ million) $7,000 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Annual Debt Issuance ($ million) Outstanding Debt as of December 31, 2024: $4.25 Billion FY2024-25 Debt Issuance: $76.8 Million Fiscal Year Ended June 30 City and Related Entity Debt Outstanding Conduit Debt Outstanding *YTD Debt Issuance 3 Annual Debt Issuance DIRECT OUTSTANDING DEBT (CITY AND ALL AGENCIES) Outstanding Debt as of December 31, 2024: $3.46 Billion (Excluding Multifamily Housing Revenue Bonds) CSJ GO Bonds, $497,265,000, 14.36% Successor Agency Tax Allocation Bonds, $981,260,000, 28.33% CSJFA Bonds/ CP Notes, $637,452,000, 18.40% Wastewater Revenue Bonds/ RWF Notes, $300,348,219, 8.67% Airport Revenue Bonds/ CP, $1,047,557,096, 30.24% 4 DEBT ISSUANCE ACTIVITIES OCTOBER – DECEMBER...
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Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This document is the City Investment Report for the quarter ended December 31, 2024, prepared by the Finance Department. It includes details on portfolio performance, compliance with investment policies, and cash management projections. The total portfolio size is approximately $2.43 billion, with an earned interest yield of 3.411%. The report indicates no exceptions to the City's Investment Policy during the quarter. It will be discussed in the Public Safety, Finance and Strategic Support Committee meeting on February 20, 2025, and reviewed by the City Council on March 11, 2025.
Key points
Total portfolio size: $2,428,548,357
Earned interest yield: 3.411%
Weighted average days to maturity: 647 days
Fiscal year-to-date net interest earnings: $45,138,338
No exceptions to the City’s Investment Policy during this quarter
Limitations
The document appears to be a draft as indicated by the presence of placeholder dates and incomplete sections.
Specific dates for meetings and discussions are mentioned but not fully resolved.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 201,865 chars
Attachment B TO: HONORABLE MAYOR AND CITY COUNCIL FROM: SUBJECT: Second Quarter Investment Report DATE: for the Quarter Ended December 31, 2024 Approved Date: Maria Öberg January 31, 2025 2/10/2025 Transmitted herewith is the City Investment Report for the quarter ended December 31, 2024. To meet the reporting requirements set forth in the City of San José Investment Policy, an electronic version of this report will be posted on the City’s website at https://www.sanjoseca.gov/your-government/departments-offices/finance/reports/-folder450 and a hard copy will be on file at the City Clerk’s Office located at 200 East Santa Clara Street, San José. This report will be distributed to the Public Safety, Finance and Strategic Support Committee (PSFSS) for discussion during its meeting on February 20, 2025 and will be agendized through the PSFSS Committee for review by the full City Council on March 11, 2025. Summary of portfolio performance and compliance for quarter ended December 31, 2024: • • • • • Size of total portfolio: $2,428,548,357 Earned interest yield: 3.411% Weighted average days to maturity: 647 days Fiscal year-to-date net interest earnings: $45,138,338 No exceptions to...