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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />NOVEMBER 19, 2012 <br />TITLE <br />QUARTERLY REPORT OF INVESTMENTS <br />AS OF SEPTEMBER 30, 2012 <br />CITY MANAGER <br />RECOMMENDED ACTION <br />Receive and file. <br />DISCUSSION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 15t Reading <br />? Ordinance on 2nd Reading <br />? Implementing Resolution <br />? Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <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 to meet the budgeted <br />expenditures for the subsequent six months be submitted to the City Council on a quarterly basis. <br />The legislation dictates that this quarterly report contain the seven major elements listed below: <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 />• 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 as of September 30, 2012. <br />19C-1