SR - - REPORT ENDING OCTOBER 31 2014pF 0
71
COUNTY GP
AGENDAITEM
November 25, 2014
TO: Honorable Mayor and
Members of the City Council
THRU: John W. Sibley
City Manager
FROM:
Investment Oversight Committee:
Eric H. Woolery, City Treasurer
John W. Sibley, City Manager
William M. Kolbow, Finance Director
Investment Oversight Committee Report for the period ending October 31, 2014.
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.
6. GENERAL PLAN IMPLEMENTATION
N/A
Reviewed/verified By:
City Manager
Finance Dire o
To Be Presen
X Cons Calendar _
City Mgr Rpts
Council Reports _
Legal Affairs
Boards /Cmtes _
Public Hrgs
Admin Reports
Plan/Environ
ITEM Q- J 11/25/14
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 November 5, 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 and Portfolio Updates — Rate reports were presented for the period
September 2013 through September 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 0.26% on November 5, 2014. Update on the investment portfolio
was also presented.
2) Treasurer's Investment Reports — The investment activity for the months of July, August, and
September 2014, 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) 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) City Update — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 11/25/14