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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />FEBRUARY 4, 2014 <br />TITLE: <br />QUARTERLY REPORT OF INVESTMENTS <br />AS OF DECEMBER 31, 2013 <br /><--�— / �tz <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 1s` Reading <br />❑ Ordinance on 2 "d 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 submitted within 30 days following the end of the <br />quarter covered by the report; however, our office continues to provide this information to the <br />City Council monthly. The quarter ending report is presented at a Council meeting. The <br />information is in compliance with State law and the City's Investment Policy. The attached report <br />(Exhibit 1) accurately reflects all pooled investments held on behalf of the City as of December <br />31. 2013. <br />19D -1 <br />