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<br /> <br /> <br /> <br /> REQUEST FOR <br /> COUNCIL ACTION <br /> <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> <br /> APRIL 16, 2012 <br /> TITLE: APPROVED <br /> ? As Recommended <br /> QUARTERLY REPORT OF INVESTMENTS ? As Amended <br /> El Ordinance on 1" Reading <br /> AS OF MARCH 31, 2012 El Ordinance on 2nd Reading <br /> ? Implementing Resolution <br /> ? Set Public Hearing For <br /> CONTINUED TO <br /> i <br /> FILE NUMBER <br /> CITY MANAGER <br /> <br /> RECOMMENDED ACTION <br /> <br /> Receive and file. <br /> <br /> DISCUSSION <br /> <br /> In 1995, the State of California enacted legislation revising the reporting requirements relative to <br /> investment of funds by governmental agencies. These requirements, which became effective on <br /> January 1, 1996, mandate that a statement outlining the ability of The City and the <br /> Redevelopment Agency to meet the budgeted expenditures for the subsequent six months be <br /> submitted to the City Council on a quarterly basis. The legislation dictates that this quarterly <br /> report contain the seven major elements listed below: <br /> <br /> • Type of investments, <br /> • Date of maturity, <br /> • Par and dollar amounts invested in each security, <br /> • Weighted average maturity of the investments, <br /> • Market value as of the date of the report, <br /> <br /> • Source of the market value information, and <br /> • Any funds, investments or programs, including loans, <br /> under the management of contracted parties. <br /> State statutes require that a quarterly report be presented at a Council meeting; however, our <br /> office continues to provide this information monthly. The information is in compliance with State <br /> law and the City's Investment Policy. The attached report (Exhibit 1) accurately reflects all <br /> pooled investments held on behalf of the City and Redevelopment Agency as of March 31, 2012. <br /> <br /> <br /> <br /> <br /> <br /> <br /> 19C-1 <br />