HomeMy WebLinkAboutSR - - REPORT PERIOD ENDING NOVEMBER 30 2015AGENDA ITEM
December 8, 2015
TO: Honorable Mayor and
Members of the City Council
THRU: Rick Otto
City Manager
FROM: Investment Oversight Com ee:,
Richard A. Rohm, City Tre
Rick Otto, City Manag l
William M. Kolbow, Fi ance Director
ReviewedNerified By:
City Manager
Finance Direc or
To Be Presente By:
X Cons Calendar _
City Mgr Rpts
Council Reports _
Legal Affairs
Boards /Cmtes _
Public Hrgs
Admin Reports
Plan /Environ
Investment Oversight Committee Report for the period ending November 30, 2015.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
3. RECOMMENDATION /ACTION:
Receive and file.
4. FISCAL IMPACT
None.
1 5. STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
G. GENERAL PLAN IMPLEMENTATION
N/A
ITEM L4 12/8/15
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 November 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 October
2014 through September 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 July, August, and
September 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) California Forecast - Sales Tax Trends and Economic Drivers — There were discussions in
regards to California sales tax trends as well as national and statewide economic drivers.
5) CityUpdate — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 12/8/15