SR - - REPORT PERIOD ENDING MAY 31 201645�� AGENDA ITEM
June 14, 2016
C�UN7•Y CPti
ReviewedNerified By
City Manager
TO: Honorable Mayor and Finance Director
Members of the City Council To Be Presented By
THRU Rick Otto X Cons Calendar _ City Mgr Rpts
City Manager Council Reports _ Legal Affairs
FROM: Investment Oversight Committee Boards /Cmtes _ Public Hrgs
Richard A . Rohm, City Treasure' Admin Reports Plan/Environ
Rick Otto, City Manager
William M. Kolbow, Finance Director
1. SUBJECT:
Investment Oversight Committee Report for the period ending May 31, 2016.
2. SUMMARY:
This report summarizes the activity of the Investment Oversight Committee.
13. 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 . ��� 6/14/16
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 May 12, 2016. 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 April
2015 through March 2016. 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 January,
February, and March 2016, and the City's position in each category of investment that
includes Treasuries, Agencies, and Pooled Investments was discussed.
3) Cash Flows and LAIF Balance — A discussion was held in regards to cash flows and LAIF
balance.
4) Proposed Changes to the Investment Policy — Proposed Investment Policy changes were
discussed.
5) Sales Tax Receipts — An update on sales tax receipts was presented.
6) California Forecast - Sales Tax Trends and Economic Drivers — There were discussions in
regards to the California forecast on sales tax trends and economic drivers.
8. ATTACHMENTS
None
ITEM 6/14/16