City of Rio Dell City Council Regular Meeting Agenda Packet May 19, 2026
City plans $1.5M transfer to State LAIF investment pool
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Description
The Finance Director proposed transferring $1.5 million in General Fund surplus cash into the State-managed Local Agency Investment Fund to earn an estimated $58,500 in annual interest while preserving same-day liquidity. Council authorization would reposition idle cash from a low-yield checking account into the pooled investment program.
Contract Details
Contract Amount
$1,500,000
Vendor
LOCAL AGENCY INVESTMENT FUND (LAIF)
Agency
City of Rio Dell, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Short-term, callable on demand
Renewal Info
LAIF is an existing, ongoing investment vehicle; the recommended transfer is a one-time movement of funds that can be reversed at any time.
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