HomeMy WebLinkAboutFin Investment Report 2012.09CITY OF
Agenda Item No: - 3.a
Meeting Date: November 5, 2012
SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: FINANCE
Prepared by: Van Bach
Accounting Supervisor
City Manager Approval:b
SUBJECT: INVESTMENT REPORT FOR THE THIRD QUARTER 2012
RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING
SEPTEMBER 30, 2012, AS PRESENTED
BACKGROUND:
Pursuant to the State of California Government Code Section 53601, the City's investment policy, last
reviewed and approved by Council on June 4, 2012, requires staff to provide the governing body a
report on the City's investment activities. The report outlines the investment activity for the preceding
quarter. Included on the report are the cost of each investment, the interest rates (yield), maturity
dates, and market value. Separate schedules are prepared for both the City and the Successor
Agency to San Rafael Redevelopment Agency.
On August 30, 2012 The City issued the Point San Pedro Road Median Landscaping Assessment
District Limited Obligation Bonds in the amount of $1,750,000. The City purchased the bonds for its
investment portfolio and interest will be allocated to the General Fund. The 2012 Bonds pay 5.25% in
interest and are amortized over a 20 year period (final maturity September 2, 2032).
The City's remaining pooled funds that are not used for current operations are invested exclusively in
the Local Agency Investment Fund (LAIF), a State-run investment pool. As long as funds are invested
in LAIF, a quarterly report will be submitted to Council with balances and investment earnings. In
addition, staff will report any changes of more than 15% of the City's investment portfolio within 30
days of such change.
Exhibit A is the monthly report provided by LAIF and details the most recent transactions. Interest is
posted quarterly in the month that follows the quarter -end.
ANALYSIS:
For September, the LAIF account had a balance of $30,996,564. Portfolio returns on LAIF dollars are
approximately 0.38 percent for September 2012. The City's West America account had a balance of
$2,565,826 at quarter end.
FOR CITY CLERK ONLY
File No.:
Council Meeting:
Disposition:
SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
TREASURER'S CERTIFICATION
1 CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH THE CITY'S
APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE CITY HAS
SUFFICIENT LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT
SIX-MONTH PERIOD.
MARK MOSES
INTERIM FINANCE DIRECTOR
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