SR - - REPORT ENDING AUGUST 31 2014AGENDAITEM
•. September 9, 2014
ReviewedNeTed By:
City Manager
TO: Honorable Mayor and Finance Dir ctor
Members of the City Council To Be Prese tea y:
THRU. John W. Sibley
City Manager
FROM: Investment Oversight Committee:
Eric H. Woolery, City Treasurer
AL
John W. Sibley, City Manager '
William M. Kolbow, Finance Director
1. SUBTE CT:
X_ Cons Calendar
_ City Mgr Rpts
_ Council Reports
_ Legal Affairs
Boards /Cmtes
Public Hrgs
Admin RJnorts
_
Plan/Environ
Investment Oversight Committee Report for the period ending August 31, 2014.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
3. RECOMMENDATION /ACTION:
Receive and file.
14. FISCAL IMPACT
None.
5. STRATEGIC PLAN
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
6. GENERAL PLAN IMPLEMENTATION
N/A
ITEM 9/9/14
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 August 6, 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) Introduction of the New Finance Director — William Kolbow was introduced as the new
Finance Director.
2) Investment Rates and Portfolio Updates — Rate reports were presented for the period June
2013 through June 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). It was noted that the current LAIF
rate was 0.25% on August 6, 2014. Update on the investment portfolio was also presented.
3) Treasurer's Investment Reports — The investment activity for the months of April, May, and
June 2014, and the City's position in each category of investment that includes Treasuries,
Agencies and Pooled Investments was discussed.
4) Chapman Economic Forecast and Sales Tax Receipts for the City — The economic forecast
from Chapman University for 2014 and 2015 and sales tax receipts for the City (Fiscal Years
2011 -12, 2012 -13, and 2013 -14) were reviewed.
8. ATTACHMENTS
None
ITEM 9/9/14