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FINANCIAL_SERVICESONGOING

City of Rancho Santa Margarita Staff Report Investment Report for the Month of May 2026 2026-06-24

City Utilizes California Bank of Commerce Deposit Accounts

City of Rancho Santa MargaritaCALIFORNIA BANK OF COMMERCEJune 24, 2026

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Description

The City of Rancho Santa Margarita maintains checking and interest-bearing deposit accounts with California Bank of Commerce, earning up to 3.88% annually as of May 2026. These on-demand accounts provide liquidity for city operations and comply with state collateralization requirements.

Contract Details

Vendor

CALIFORNIA BANK OF COMMERCE

Agency

City of Rancho Santa Margarita, CA

Contract Type

FINANCIAL_SERVICES

Document Date

June 24, 2026

Contract Term

On demand deposit accounts, interest posted monthly

Renewal Info

Relationship appears to be ongoing depository banking with no stated fixed term or renewal date; accounts continue until modified or closed by the City or bank.

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Issuing Agency

City of Rancho Santa Margarita

City

City of Rancho Santa Margarita, CA

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Vendor

CALIFORNIA BANK OF COMMERCE

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More from City of Rancho Santa Margarita

City of Rancho Santa Margarita Agenda 2026-06-24

Increase of $50,000, from $2,597,000 to $2,647,000 (not-to-exceed total)June 24, 2026

City of Rancho Santa Margarita Staff Report Approval of Amendment No. 5 to Professional Services Agreement with Charles Abbott Associates, Inc. 2026-06-24

Increase of $50,000 (from $2,597,000 to $2,647,000 total not-to-exceed)June 24, 2026

City of Rancho Santa Margarita Staff Report Investment Report for the Month of May 2026 2026-06-24

$811 balance as of May 31, 2026June 24, 2026

City of Rancho Santa Margarita Staff Report Investment Report for the Month of May 2026 2026-06-24

$19,402,550 invested as of May 31, 2026June 24, 2026

City of Rancho Santa Margarita Staff Report Notice of Completion for the Los Alisos Pavement Rehabilitation Project 2026-06-24

$479,000.00 (original); final Contract amount $395,867.41; Project retention $19,793.37 (5%)June 24, 2026

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