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HomeMy WebLinkAboutFin SA Investment Report 2015.03CITY OF Agenda Item No: 9.a SUCCESSOR AGENCY TO THE Meeting Date: May 4, 2015 REDEVELOPMENT AGENCY SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY AGENDA REPORT Department: FINANCE Prepared by: Van Bach,r , Accounting Manager City Manager Approval SUBJECT: QUARTERLY INVESTMENT REPORT RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING MARCH 31, 2015, AS PRESENTED BACKGROUND: 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 16, 2014, 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), maturity dates, and market value. ANALYSIS: 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 quarter end was $712,134. During the quarter, the remaining bond proceeds previously held by U.S. Bank were transferred to the Successor Agency checking account. This checking account, which now contains mostly bond proceeds and some operating funds, had a balance of $1,770,516 at quarter end. FISCAL IMPACT: 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. FOR AGENCY SECRETARY ONLY File No.: S14 f-lNee&4<-4 a - /P s Agency Meeting: j / 21c;,.,5 - Disposition: C2l cc:a ® SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Page: 2 RECOMENDED: The Board should accept and file the investment report as presented. Attachment SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Page: 3 TREASURER'S CERTIFICATION 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, SUBJECT TO OVERSIGHT BOARD APPROVAL OF OBLIGATIONS AND SUBSQUENT COUNTY DISBURSEMENT OF FUNDS. MARK MOSES FINANCE DIRECTOR