Council hears quarterly treasurer’s report

Courtesy photo

Paramount has $32.7 million in assets that came be liquidated on the same day, according to the Treasurer’s Report for the Quarter Ending June 30, 2019, written by by Finance Director Karina Liu, and Assistant Finance Director Clyde Alexander. The quarterly report was presented to the Aug. 6 City Council meeting.

“As of June 30, 2019, total cash and investments equaled $38,934,793. Of this amount, $32,701,616 has same day liquidity. This comfortably ensures that sufficient funds are available to meet the City’s expenditure requirements for at least the next six months. As of June 30, 2019, the investments held by the City had a market value of $27,454,634.”