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HomeMy WebLinkAboutFin SA Quarterly Report 2017.09____________________________________________________________________________________ FOR CITY CLERK ONLY File No.: SA Financial Reports / Policy Council Meeting: 11/06/2017 Disposition: Accepted report Agenda Item No: SA 1.a Meeting Date: November 6, 2017 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY AGENDA REPORT Department: Finance Department Prepared by: Mark Moses Finance Director City Manager Approval: ______________ SUBJECT: QUARTERLY INVESTMENT REPORT RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING SEPTEMBER 30, 2017, AS PRESENTED BACKGROUND: Pursuant to the State of California Government Code Section 53601 and the City’s investment policy, last approved by the City Council on August 7, 2017, Staff provides the governing body a quarterly report on the Successor Agency's investment activities and liquidity. ANALYSIS: The Successor Agency checking account had a balance of $264,411 at quarter- end. These funds were available for the administration of the activities of the Agency as well as for approved agency commitments. Currently, there are no funds invested with the City’s pooled investments. If any such investments were to occur, they would be covered by the City’s investment policy. FISCAL IMPACT: No financial impact occurs by adopting the report. RECOMENDATION: Accept and file the investment report as presented. Attachment: Successor Agency Cash & Investment Report July through September 2017. SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2 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 THE SUBSQUENT TIMELY COUNTY DISBURSEMENT OF FUNDS. MARK MOSES FINANCE DIRECTOR SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS QUARTER ENDED 9/30/2017 PURCHASE MATURITY YIELD PURCHASE PAR MARKET Days to % OF AS ISSUER TYPE DATE DATE PRICE VALUE VALUE Maturity TOTAL OF CASH ACCOUNTS: WESTAMERICA DD N/A N/A 264,411.39$264,411.39$264,411.39$1 100.00%7/31/2017 WESTAMERICA DD N/A N/A 264,411.39$264,411.39$264,411.39$1 100.00%8/31/2017 WESTAMERICA DD N/A N/A 264,411.39$264,411.39$264,411.39$1 100.00%9/30/2017 TOTAL INVESTMENTS -$-$-$ TOTAL CASH & INVESTMENTS - QUARTER-END BALANCE 264,411.39$264,411.39$264,411.39$300.00% % Portfolio held 1 year or less 100% TYPE: DD - Demand Deposit W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 17-18.xls STAFF REPORT APPROVAL ROUTING SLIP Staff Report Author: Mark Moses Date of Meeting: 11/06/2017 Department: Finance Topic: Agency Quarterly Investment Report 9-30-17 Subject: Agency Quarterly Investment Report 9-30-17 Type: (check all that apply) ☐ Consent Calendar ☐ Public Hearing ☐ Discussion Item ☐ Resolution ☐ Ordinance ☐ Professional Services Agreement ☐ Informational Report *If PSA, City Attorney approval is required prior to start of staff report approval process Was agenda item publicly noticed? ☐ Yes ☐No Date noticed: ☐Mailed ☐Site posted ☐Marin IJ Due Date Responsibility Description Completed Date Initial / Comment DEPARTMENT REVIEW FRIDAY noon 10/13 Director Director approves staff report is ready for ACM, City Attorney & Finance review. 10/19/2017 ☒ VB CONTENT REVIEW MONDAY morning 10/16 Assistant City Manager City Attorney Finance ACM, City Attorney & Finance will review items, make edits using track changes and ask questions using comments. Items will be returned to the author by end of day Wednesday. Click here to enter a date. 10/24/2017 10/19/2017 ☐ ☒ LG ☒ MM DEPARTMENT REVISIONS FRIDAY noon 10/20 Author Author revises the report based on comments receives and produces a final version (all track changes and comments removed) by Friday at noon. Click here to enter a date. ☒ VB ACM, CITY ATTORNEY, FINANCE FINAL APPROVAL MONDAY morning 10/30 Assistant City Manager City Attorney Finance ACM, City Attorney & Finance will check to see their comments were adequately addressed and sign-off for the City Manager to conduct the final review. Click here to enter a date. 10/31/2017 10/30/2017 ☐ ☒ LG ☒ MM TUES noon 10/31 City Manager Final review and approval 10/31/2017 ☒ JS