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HomeMy WebLinkAboutFin SA Investment Report 2013.06=11r,y Agenda Item No: 70b 4, I Meeting Date: August 5, 2013 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY AGENDA REPORT 1! =* to -1 SUBJECT: INVESTMENT REPORT FOR THE SECOND QUARTER 2013 RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING JUNE 307 20131 AS PRESENTED Pursuant to the State of California Government Code Section 53601 and the City's investment policy, last reviewed and approved by the Board on June 3, 2013, staff provides the governing body a periodic report on the Successor Agency'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), mRturity dates, and market value. The proceeds of the 1999, 2002 and 2009 Tax Allocation Refunding Bonds, are invested with the Local Agency Investment Fund (LAIF) for future projects or administrative costs. The ending cash balance of this investment account at month end was $709,102. The other LAIF account $142,906 contains housing funds for future administrative expenses. The LAIF pools is intended to be liquid, and produced about .24% investment return for the second quarter of 2013. The remaining unspent portion of 1999 bond proceeds are held an account with U. S. Bank $1,340,615. These funds will be use either to reimburse project expenditures or make payment on the 1999 bonds. File No.: Agency Meeting: Disposition: The San Rafael Successor Agency for the San Rafael Redevelopment Aciency checking account, which is used for the weekly disbursements,, had a balance of $1,016,432 at quarter end. A &LOUt 0 1 ivi I No financial impact occurs by adopting the report. The Successor Agency continues to meet the priority principles of investing - safety, liquidity and yield in this respective order. The portfolio remains conservatively invested. Sufficient liquidity exists to meet operational requirements for the next six months. II 11�11' 1% A The Board should accept and file the investment report as presenteu. I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH SUCCESSOR AGENCY'S APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE SUCCESSOR AGENCY HAS SUFFICIENT LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH PERIOD. MARK MOSES INTERIM FINANCE DIRECTOR I ■ 6 ccs 01) 0 E L- 0 tCi CCi At cu cu Ca co (DCU CN Ci C: E 0) z 0 CL < z Edl) > 0 m a- 43 > a> m o m (D a) (n in 0 (D :D CL if It It it C: < < z F• m 0 0 z >� 5 id U') . ....... . 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