SR - - REPORT ENDING JANUARY 31 2014pF OlZ,
c�UNTY CP
TO:
THRU:
FROM:
1.
AGENDAITEM
March 11, 2014
Honorable Mayor and
Members of the City Council
John W. Sibley
City Manager
Investment Oversight Committee:
Eric H. Woolery, City Treasurer
John W. Sibley, City Manager
Richard Jacobs, Finance 1p irgeQo ,
SUBJECT:
Reviewed/veri ed By:
City Manager
Finance Direc r
To Be Present
X Cons ndar
City Mgr Rpts
/Cal
Couneports
Legal Affairs
Board mtes
Public Hrgs
A i ports
Plan/Environ
, q-0-
Investment Oversight Committee Report for the period ending January 31, 2014.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
3. RECAMMENDATION /ACTION:
Receive and file.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOAUSI
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
6. GENERAL PLAN IMPLEMENTATION
N/A
ITEM 3/11/14
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 19, 2014. 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 Update — Rate reports were presented for the period October through
December 2013. 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). It was noted that the current LAIF
rate was 0.24% on February 19, 2014.
2) Treasurer's Investment Reports — The investment activity for the months of October,
November, and December 2013, and the City's position in each category of investment that
includes Treasuries, Agencies and Pooled Investments was presented.
3) Proposed Changes to the Investment Policy — A discussion was held in regards to proposed
changes to the Investment Policy.
8. ATTACHMENTS
None
ITEM 3/11/14