03.04 Investment Oversight Committee Report 2-28-19AGENDA ITEM
March 12, 2019
TO: Honorable Mayor and Members of the City Council
THRU: Rick Otto, City Manager
FROM: Investment Oversight Committee:
Richard A. Rohm, City Treasurer-,;Z;E�01-�--
Rick Otto, City Manager
William M. Kolbow, Administrative Services Director
REVIEW: City Manager'" finance r2✓v-'
1. SUBJECT
Investment Oversight Committee report for the period ending February 28, 2019.
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 February 6, 2019. 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.
ITEM 03/12/2019
Following is a summary of the specific items discussed at this meeting:
• Investment Rates and Portfolio Updates — Rate reports were presented for
the period January 2018 through December 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
October, November, and December 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 February 12 meeting as item 3.4.
• Sales Tax Receipts — An update on sales tax receipts was discussed.
• 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.
• City Update — An update was presented regarding what is happening at the
city level.
7. ATTACHMENTS
• None.
ITEM 2 03/12/2019