HomeMy WebLinkAboutFin Investment Report 2012.12Agenda Item No: 3. i
Meeting Date: February 4, 2013
SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: FINANCE
Prepared by: Van Bac h�� City Manager Approvatly/
Accounting Manager
SUBJECT: INVESTMENT REPORT FOR THE FOURTH QUARTER 2012
RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING
DECEMBER 31, 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, 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
Rafael Redevelopment Agency.
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.
Exhibits A are the monthly reports summarizing our investments for the fourth quarter of 2012.
ANALYSIS:
For December, the LAIF account had a balance of $29,597,543. Portfolio returns on LAIF dollars are
approximately 0.32 percent for December 2012. The City's West America account had a balance of
$3,770,263 at quarter end.
FISCAL IMPACT:
No financial impact occurs by adopting the report. The City continues to meet the priority principles of
investing - safety, liquidity and yield in respective order. The portfolio remains conservatively invested.
Sufficient liquidity exists to meet daily operating and capital project requirements for the next six
Council Meeting: :2_ILf1.2 of
Disposition: (
FOR CITY CLERK ONLY
SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
months. Operating funds, as defined for this report, exclude cash held with fiscal agents for the
payment of bond principal and interest.
OPTIONS/ACTION REQUIRED:
The City Council should adopt the report as presented in order to satisfy current State Investment
Code requirements and City policy.
WAManagement Services- WorkFilekFnance- WorkFile\Council MatenaftStaff Repo rts\201 2\C ity\cityinvrpt 1 22012.doc
SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3
TREASURER'S CERTIFICATION
I 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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