03.04 Investment Oversight Committee Report 5-31-19 4�F���R9
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June 11, 2019
TO: Honorable Mayor and Members of the City Council
THRU: Rick Otto, City Manager
FROM: Investment Oversight Committee: ��
Richard A. Rohm, City Treasure'r���
Rick Otto, City Manager //!,,�
William M. Kolbow, Administrative Services Director n�.��WIV'
REVIEW: City Manag r inance ��f?!/
1 . SUBJECT
Investment Oversight Committee report for the period ending May 31, 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 May 8, 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 3� � 06/11/2019
,
Following is a summary of the specific items discussed at this meeting:
• Investment Rates and Portfolio Updates — Rate reports were presented for
the period April 2018 through March 2019. 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
January, February, and March 2019, 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 14
meeting as item 3.4.
• Proposed Changes to the Investment Policy — A discussion was held in
regards to proposed changes to the Investment Policy.
• 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 06/11/2019