1) Does Your City Utilize This Code to Allocate Interest to the General Fund That Would

1) Does your city utilize this code to allocate interest to the General Fund that would otherwise be allocated to the funds to which the principal belongs? 2) How do you calculate interest on the funds (other than the General Fund) that require interest? Responder Answer to Question 1) Answer to Question 2) City of Tulare No Based on Cash balance % City of Clovis No We do allocate interest earned on our portfolio to all funds monthly based on average daily cash balance. We do charge an “investment fee” that is revenue in the fund where our investment officer resides (the general fund) and reduces the interest balance available for distribution to the other funds. Crescent City No always allocated interest based on cash balances City of Shafter No We calculate a monthly weighted average of cash in every fund and spread the annual interest/investment earnings based on those averages. City of Palo Alto No Like you most funds get interest allocation based on that fund’s cash balance (we do monthly allocation). We do have funds that don’t get any interest allocation so by default the interest on these funds go to the General Fund.

Inland Empire Utilities Agency No We use the pooled cash approach. All cash related transactions are recorded in a “clearing” fund which results in a “claim on cash entry” (debit/credit) recorded on the fund serviced by the clearing fund. Each month, total interest earned is allocated based on each funds cash position (cash and cash equivalents). Fresno Metropolitan Flood No We are a special district and deposit all funds in the Control District Fresno County Treasury. We do this, as we can maximize the earnings on the funds and earn interest until the day we transfer the funds to our bank and issue checks against those funds. Also, Fresno County’s performance is a bit better than LAIF We maintain several “cash accounts” in that Treasury and allocate the interest to those programs that have the principal on deposit in the cash account. In example, funds in our Capital Project fund earns interest and is used for capital Projects In example, funds in our Debt Service fund earns interest and is used for Debt Service

City of Paso Robles Not Yet (see attached) The attached is going to CC next meeting. It gives you an idea of what we did to our investment policy.