HomeMy WebLinkAboutSR - - REPORT ENDING FEBRUARY 28 2015AGENDA ITEM
March 10, 2015
ReviewedNerified By:
City Manager
TO: Honorable Mayor and Finance Dire or
Members of the City Council To Be Prese6 B .
THRU: John W . Sibley X Cons Calendar _ City Mgr Rpts
City Manager Council Reports _ Legal Affairs
FROM: Investment Oversight Committee Boards /Crates _ Public Hrgs
John W . Sibley, City Manager Admin Reports Plan/Environ
William M. Ko Actin City Treasurer/ Finance Director
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1. SUBIECT:
Investment Oversight Committee Report for the period ending February 28, 2015.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
1 3. RECOMMENDATION /ACTION:
Receive and file.
14. FISCAL IMPACT
None.
5. STRATEGIC PLAN GO
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
GENERAL PLAN IMPLEMENTATION
N/A
ITEM 5.'A 3/10/15
7. DISCUSSION and BACKGROUND
As required by the Orange Municipal Code Section 2.50.020, the Investment Oversight
Committee reports to the City Council summarizing the Committee meetings and submitting any
recommendations of the Investment Advisory Committee.
Since the last Investment Oversight Committee Report, the Investment Oversight Committee
held a meeting on February 4, 2015. This meeting was combined with the Investment Advisory
Committee meeting. The purpose of this meeting was to review current investment activity and
to discuss relative Treasury issues. Following is a summary of the specific items discussed at
this meeting.
1) Investment Rates and Portfolio Updates — Rate reports were presented for the period
January 2014 through December 2014. There were discussions regarding the interest rate
environment. In addition, attention was given to the recent interest rate trends in both the
U.S. Treasury market and in the Local Agency Investment Fund (LAIF). Update on the
investment portfolio was also presented.
2) Treasurer's Investment Reports — The investment activity for the months of October,
November, and December 2014, and the City's position in each category of investment that
includes Treasuries, Agencies, and Pooled Investments was discussed.
3) Proposed Changes to the Investment Policy — A discussion was held in regards to proposed
changes to the Investment Policy.
4) Sales Tax Receipts — An update on sales tax receipts was presented.
5) Chapman Economic Forecast — There were discussions in regards to the national and
statewide economic drivers.
6) City Update — An update was presented regarding what is happening at the City level.
18. ATTACHMENTS
None
ITEM 3/10/15