HomeMy WebLinkAboutFin SA Investment Report 2014.12CITY OF
Agenda Item No: 8. a
Meeting Date: February 2, 2015
SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
AGENDA REPORT
Department: FINANCE
Prepared by: Van Bach,
Accounting Manager I,
City Manager Approval ""'"'"I
SUBJECT: QUARTERLY INVESTMENT REPORT
RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER
ENDING DECEMBER 31, 2014, 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 $711,678.
The remaining unspent portion of 1999 bond proceeds are held an account with U. S.
Bank $1,340,615. These funds will be used either to reimburse eligible project
expenditures.
The Successor Agency checking account, which is used for operating disbursements,
had a balance of $504,566 at quarter end.
FISCAL IMPACT:
FOR AGENCY SECRETARY ONLY
File No.: -5A- -,- fAFG k o- �?)S
Agency Meeting: )- b2 I10/S
Disposition: __ (21 C"o(Z -L� f'a 2L
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Pa2e: 2
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.
RECOMENDED:
The Board should accept and file the investment report as presented.
Attachment
TREASURER'S CERTIFICATION
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
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