SR - - REPORT ENDING NOVEMBER 30 20181. SUBJECT
Finance "'W
Investment Oversight Committee report for the period ending November 30, 2018.
2. SUMMARY
This report summarizes the activity of the Investment Oversight Committee.
3. RECOMMENDED ACTION
Receive and file.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
d: Effectively manage and develop City assets.
6. 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 7, 2018. This meeting was combined with
the Investment Advisory Committee meeting. The purpose of this meeting was to
review current investment activity and to discuss related Treasury issues.
ITEMS •"t 1 12/11/2018
Following is a summary of the specific'items discussed at this meeting:
• Investment Rates and Portfolio Updates — Rate reports were presented for
the period October 2017 through September 2018. 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). An update on the investment portfolio was
also presented.
• Treasurer's Investment Reports — The investment activity for the months of
July, August, and September 2018, and the City's position in each category of
investment that includes Treasuries, Agencies, and Pooled Investments was
discussed. This report was also on the City Council agenda for the November
13, 2018 meeting as item 3.4.
• Sales Tax Receipts — An update on sales tax receipts was discussed.
• California Forecast: Sales Tax Trends and Economic Drivers — There were
discussions in regards to the California forecast on sales tax trends and
economic drivers.
• City Update — An update was presented regarding what is happening at the
city level.
7. ATTACHMENTS
None.
ITEM 2 12/11/2018