Transparency -- Shady Cove Investment Acct Fund Transfers and Balance

In September 2025, information in the City's published budget caught the eye of SCM committee member Natalie Swendener.  She noticed that the City's approved FY25-26 budget had a line item 10-36-1000 for LGIP Interest that was budgeted at 100,000.00.  LGIP stands for Local Government Investment Pool.  It is a Treasury-managed Oregon Short Term investment fund managed on behalf of the state of Oregon which allows the City to earn interest on deposits of public funds. Based on the published quarterly returns for this fund, Ms. Swendener estimated that the City would have had to have over $2M in this fund to expect this amount of interest.  She submitted a public records request for the details. 

The public records request showed four transfers into the City's LGIP fund made in July 2024, totaling $1.15M, substantially corroborating Administrator Parry's allegation that she transferred $1.5M from the City's checking account to the investment fund. 

The public records request asked for the investment fund activity for Fiscal Years 2022, 2023, 2024 and 2025. 

SCM calculated a running balance by applying the audited ending balance from the Isler CPA FY21-22 audit (page 18) of $1,620,052.00 .  Transactions were simply debited or credited just like a regular checking account.  This showed that in October of 2025, Shady Cove's City government had over $2M in it's investment account.  The City Administrator also provided the City's Chase Checking account balance (approximately $500K as of 10/1/25), showing the City had total cash assets of over $2.5M.