HomeMy WebLinkAboutSR - - REPORT ENDING 31, 2015AGENDA ITEM
.4 ... ►. June 9, 2015
,.
ReviewedNerified B
City Manager
TO: Honorable Mayor and Finance Direct
Members of the City Council To Be Presented By:
THRU: Rick Otto X Cons Calendar _ City Mgr Rpts
Interim City Manager Council Reports _ Legal Affairs
FROM: Investment Oversight Committee: Boards /Cmtes _ Public Hrgs
Richard A. Rohm, City Treasurers Admin Reports Plan/Environ
Rick Otto, Interim City Manager a>
William M. Kolbow, Finance l Director /,
1. SUBJECT:
Investment Oversight Committee Report for the period ending May 31, 2015.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
3. RECOMMENDATION /ACTION:
Receive and file.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
G. GENERAL PLAN IMPLEMENTATION
WIND
ITEM: 43 • L4 OATS OF MEETING' ..
ITEM 6/9/15
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 May 6, 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) Introduction of the New City Treasurer — Richard Rohm was introduced as the new City
Treasurer.
2) Investment Rates and Portfolio Updates — Rate reports were presented for the period April
2014 through March 2015. 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.
3) Treasurer's Investment Reports — The investment activity for the months of January,
February, and March 2015, and the City's position in each category of investment that
includes Treasuries, Agencies, and Pooled Investments was discussed.
4) Proposed Changes to the Investment Policy — A discussion was held in regards to proposed
changes to the Investment Policy.
5) Sales Tax Receipts — An update on sales tax receipts was presented.
6) Sales Tax Trends and Economic Drivers — There were discussions in regards to California
sales tax trends as well as national and statewide economic drivers.
7) Cijy Update — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 6/9/15