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HomeMy WebLinkAboutFin Investment Report 2014.0344, Prepared by: Van Bach Accounting Manager Agenda Item No: 4. e Meeting Date: May 5, 2014 City Manager Approv SUBJECT: QUARTERLY INVESTMENT REPORT RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING Pursuant to the State of California Government Code Section 53601 and the City's investment policy, last reviewed and approved by Council on June 3, 2013, staff provides 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 ii;I1111q 0 oil Since December 2011, the City's pooled funds not used for current operations have been invested almost exclusively in the Local Agency Investment Fund {LAIF), a State-run investment pool. The one exception to this was a $1,750,000 investment in assessment district bonds. Beginning in March 2014, the City returned to an investment strategy that included purchases of securities outside of LAIF with the assistance of its investment advisor, Cutwater Asset Management. ANALYSIS: As of March 31, 2014, the LAIF account had a balance of $30,516,686. Portfolio returns on LAIF dollars are approximately quarter end. The remag investment assets included the $1,697,400 balance of Pt. San Pedro Assessment District bonds, and $2,513,345 in government agency securities (including FFCB, FNMA and FHLMC). The overall portfolio return for March 2014 was.56%. The City's West America account had a balance of $11,715,273 at quarter end. Exhibit A is composed of the three monthly reports summarizing the City's investments for the quarter ending March 31, 2014. The reports for January and February were prepared by the City. The March report was prepared by the City's investment advisor. FOR CITY CLERK ONLY Council Meeting: Disposition: a ( U 0 SAN RAFAEL CITY COUNCIL AGENDA REPORT / Paim. 2 No financial impact occurs by adopting the report. The City continues to meet the priority principles of safety, liquidity and yield in respective order. The portfolio remains conservatively invested. _nvesting Sufficient liquidity exists to meet daily operating and capital project requirements for the next six -months. Operating funds, as defined for this report, exclude cash held with fiscal agents for the -A,,ayment of bond principal and interest. The City Council should adopt the report as presented in order to satisfy current State Investment Code requirements and City policy. Attachment TREASURER'S CERTIFICATION CERTIFY 1 ALL INVESTMENTS MADE ARE IN CONFORMANCE OR1 APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE CITY HAS SUFFICIENT LIQUIDITY TO MEET ALL OF THE OBLIGATIONS PERIOD. y 1 i a 1601, 1 • et LL 0 c o L m a a 5 CL :9 W ce D 4 CN 00 r�— (0 CN Z CY) W 0 C\I 0 Z C> w CN 0 CY) Co CL 1:.: < Z-11 Z -LU F- 0 CO cr C) 4( LU Z C) —j :5 CL uj CL 0 LL z M 0 < UJ CL (/) LJJ Z UJ U) L'i 0 U) (D a. < 611, R Is *-moo 0 tU 0 L - cu 0 0 t- 0 01 0 E I- LO 0 r— cn L- CCf tU Ln cn cn cu co o T-1 LO C: cn CF) 0 E 2 CD 0 E C: — Cia 1:! a) 0 0 d 0 0 > 0 d z c > < amiE e c P E 'S om —0 0 a) cu E > T m CL o 0 'mo W 0. 11 If 11 11 n 11 C) >- F- < 0 C) z CL F- 5 U) CL :9 (0 0 co 0 LO rl- 6 1- cle) ci C) 00 0 (D 0 (6 C5 T- LO LC) C5 M C) 7 0 (D ci 00 C) LO LO r�- 05 m LO CN CN ci Lri CN Z m W C) CN CL N0 CN Z W CN a_ 0 cle) Co Q - LU 0 0 Q Z w Z Z) CL UJ CL 0 LL z 2 0 -.j < UJ CL 4 LL, F- W < w 0 U) CL < RE I U') tYi co r�- cNi LO ll' (Y) 00 cNi r�- LO Cifl 00 rl- cNi t�- LO (6 60- Is 0-01 0 C) Cl) 0 L— tU cu 76D 0 If 0 CL ON -0 Z, E CL 0 > < cc > to Co -0 CL It c o -0 c0 M U) <.0