HomeMy WebLinkAboutSR - - REPORT PERIOD ENDING AUGUST 31 2015� 0P
TO:
THRU:
AGENDA ITEM
September 8, 2015
Honorable Mayor and
Members of the City Council
Rick Otto
Interim City Manager
FROM: Investment Oversight Committee:
Richard A. Rohm, City Treasurer
Rick Otto, Interim City Manage
William M. Kolbow, Finance Di tQr,���
1. SUBJECT:
Investment Oversight Committee Report for the period ending August 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
N/A
ReviewedNerified By
City Manager
Finance Director
To Be Presented By:
X Cons Calendar _
City Mgr Rpts
Council Reports _
Legal Affairs
Boards /Cmtes _
Public Hrgs
Admin Reports
Plan/Environ
ITEM �J.�' 9/8/15
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 August 5, 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 July
2014 through June 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.
2) Treasurer's Investment Reports — The investment activity for the months of April, May, and
June 2015, and the City's position in each category of investment that includes Treasuries,
Agencies, and Pooled Investments was discussed.
3) Sales Tax Receipts — An update on sales tax receipts was presented.
4) Chapman Economic Forecast, Sales Tax Trends, and Economic Drivers — There were
discussions in regards to the economic forecast from Chapman University, sales tax trends,
and economic drivers.
5) City Update — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 9/8/15