03.04 Investment Oversight Committee Report 2-28-181. SUBJECT:
Investment Oversight Committee Report for the period ending February 28, 2018.
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.
G. GENERAL PLAN IMPLEMENTATION
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 February 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 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 January
2017 through December 2017. 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 October,
November, and December, 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 February 13, 2018 meeting as item 3.4.
3) Sales Tax Receipts — An update on sales tax receipts was discussed.
4) Chapman Economic and Business Review 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 3/13/18
CITY COUNCIL MINUTES MARCH 13, 2018
2. PUBLIC COMMENTS (Continued)
Bea Herbst — spoke in opposition of the proposed TLC Charter School.
Faye Marcantel — thanked the City for the indoor pickleball courts at Grijalva Gym and
would like to see an outdoor court at Hart Park.
Terre Duensing — thanked the City for the indoor pickleball courts at Grijalva Gym.
Jonathan Zimmerman — spoke in opposition of the proposed TLC Charter School and
distributed a map to council.
Kelsey Moncada, Touchstones — spoke regarding a program that helps adolescents with
drug and alcohol abuse.
Steve Lichten — spoke in opposition of the proposed TLC Charter School.
Diane Kropidlowski — thanked council for cleaning up Pitcher Park, and spoke in
opposition of the proposed TLC Charter School.
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 February 8, February 16, February 22, and
March 2, 2018. (C2500.J.1.7)
ACTION: Approved.
3.2 City Council Minutes, Regular Meeting of February 13, 2018. (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 February 28, 2018.
(OR1800.0.27.16)
ACTION: Received and filed.
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