SR - - PERIOD ENDING AUGUST 31 20161. SUBJECT:
Investment Oversight Committee Report for the period ending August 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.
1 6. GENERAL PLAN IMPLEMENTATION I
N/A
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 10, 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 July
2015 through June 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 April, May, and
June, 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) Chapman Economic Forecast Sales Tax Trends, and Economic Drivers — There were
discussions in regards to the economic forecast from Chapman University, sales tax trends,
and economic drivers.
5) City Update — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 9/13/16
CITY COUNCIL MINUTES SEPTEMBER 13, 2016
3. CONSENT CALENDAR
All items on the Consent Calendar are considered routine and are enacted by one motion
approving the recommended action listed on the Agenda. Any member of the City Council,
staff or the public may request an item be removed from the Consent Calendar for
discussion or separate action. Unless otherwise specified in the request to remove an item
from the Consent Calendar, all items removed shall be considered immediately following
action on the remaining items on the Consent Calendar.
3.1 Confirmation of warrant registers dated July 28, August 4, 5, 11, 18, 22, 25, 31, and
September 1, 2016. (C2500.J.1.7)
ACTION: Approved.
3.2 City Council Minutes, Regular Meeting of August 9, 2016; and Special Meeting of
August 23, 2016. (C2500.D.4)
ACTION: Approved.
3.3 Waive reading in full of all ordinances on the Agenda.
ACTION: Approved.
3.4 Investment Oversight Committee Report for the period ending August 31, 2016.
(OR1800.0.27.16)
ACTION: Received and filed.
AGREEMENTS
3.5 First Amendment to Agreement 6260 (AGR -6260) with BC Traffic Specialist for
installation of traffic striping, pavement markings, and raised pavement markers at
various locations within the City of Orange. (A2100.0; Agr- 6260.1)
ACTION: Approved First Amendment to the agreement with BC Traffic Specialist in an
amount not -to- exceed $137,114 for installation of traffic striping, pavement markings and
raised pavement markers at various locations within the City of Orange.
3.6 Agreement with Pacific Advanced Civil Engineering, Inc. for the preparation of
specifications and bid documents for the Water Supervisory Control and Data
Acquisition (SCADA) Upgrade Project. (A2100.0; Agr -6388)
ACTION: Awarded Consultant Service Agreement to Pacific Advanced Civil Engineering,
Inc. in the amount of $43,000 and authorized the Mayor and City Clerk to execute the
necessary documents on behalf of the City.
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