03.04 Investment Oversight Committee Report 5-31-181. SUBJECT:
Investment Oversight Committee Report for the period ending May 31, 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
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 2, 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 April
2017 through March 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). Update on the investment
portfolio was also presented.
2) Treasurer's Investment Reports — The investment activity for the months of January,
February, and March 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 May 8, 2018 meeting as item 3.4.
3) Proposed Changes to the Investment Policy — A discussion was held in regards to proposed
changes to the Investment Policy.
4) Sales Tax Receipts — An update on sales tax receipts was discussed.
5) California Forecast - Sales Tax Trends and Economic Drivers — There were discussions in
regards to the California forecast on sales tax trends and economic drivers.
6) City Update — An update was presented regarding what is happening at the City level.
8. ATTACHMENTS
None
ITEM 6/12/18