HomeMy WebLinkAboutFin SA Investment Report 2013C:, T of
Agenda Item No: 10.a
n. Meeting Date: May 20, 2013
SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
AGENDA REPORT
Department: FINANCE
Prepared by: Van Bach, City Manager Approvat
Accounting Manager
SUBJECT: INVESTMENT REPORT FOR THE FIRST QUARTER 2013
RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER
ENDING MARCH 31, 2013, AS PRESENTED
BACKGROUND:
Pursuant to the State of California Government Code Section 53601, the City's
investment policy, last reviewed and approved by the Board on June 4, 2012, staff
provides the governing body a periodic 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.
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 month end
was $708,328.
The other LAIF account $142,735 contains housing funds for future administrative
expenses. These resources are intended to provide sufficient operating capital in order
to finance the Agency.
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.
FOR AGENCY SECRETARY ONLY
File No.: -54 R
C>1 2
Agency Meeting:
Disposition: c r�7 -
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Patie: 2
The San Rafael Successor Agency for the San Rafael Redevelopment Agency
checking account, which is used for the weekly disbursements, had a balance of
$252,525 at quarter end. The LAIF pools is intended to be liquid, and produced about
.28% investment return for the first quarter of 2013.
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. Sufficient liquidity exists to meet
operational requirements for the next six months.
UAKOI�a�
The Board should accept and file the investment report as presented.
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Page: 3
I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH THE
CITY OF SAN RAFAEL'S APPROVED INVESTMENT POLICY AND STATE
INVESTMENT REGULATIONS. THE AGENCY HAS SUFFICIENT LIQUIDITY TO
MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH
PERIOD.
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MARK MOSES
INTERIM FINANCE DIRECTOR
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