Parks and Recreation CommissionMenlo Park
Updates to City budget 2026-27
The commission received updates on the adopted city budget for fiscal year 2026‑27.
Info onlyJul 22Budget & TaxesNo comment option listed
Decisions
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The commission received updates on the adopted city budget for fiscal year 2026‑27.
The policy requires the Administrative Services Director to notify the City Manager if a security’s rating falls below the minimum.
The city’s investment advisor, Insight Investment, reviews the policy each fiscal year for compliance and market trends.
The Commission presented its work‑plan goals, including an annual review of the investment policy and quarterly review of investment portfolio performance.
The City can invest in supranational securities rated “AA” or higher, limited to 30% of the portfolio.
U.S. GDP for Q4 was revised down from 1.4% to 0.7% annualized.
The agenda notes ICE BofA as a broker‑dealer without additional details.
A disclaimer document about investment advisory services is attached.
The Finance and Audit Commission will receive and file the quarterly investment portfolio reports for March 31, 2026.
Overnight repo rate is listed as 4.11 with a yield of 1.91.
The agenda lists corporate bonds such as 3M Company 2.25% (due 19 Sep 2026) and Apple Inc 2.9% (due 12 Sep 2027).
The agenda notes a review of the city’s investment policy and recommendations for strategic changes.