03.04 Investment Oversight Committee Report 8-31-181. SUBJECT:
Investment Oversight Committee Report for the period ending August 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) -77
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
6. 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 August 8, 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 July
2017 through June 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 April, May, and
June 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 August 14, 2018 meeting as item 3.4.
3) Comparison of Investment Policy with Other Cities — A discussion was held in regards to
comparison of investment policy with other cities.
4) Sales Tax Receipts— An update on sales tax receipts was discussed.
5) 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.
6) City pdate — An update was presented regarding what'is happening at the City level.
8. ATTACHMENTS
None
ITEM 9/11/18