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19D - QRTLY RPT OF INVESTMENTS
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19D - QRTLY RPT OF INVESTMENTS
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Last modified
8/11/2016 4:29:22 PM
Creation date
8/11/2016 2:58:36 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
19D
Date
8/16/2016
Destruction Year
2021
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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 16, 2016 <br />TITLE: <br />QUARTERLY REPORT OF INVESTMENTS <br />AS OF JUNE 30, 2016 <br />{STRATEGIC PLAN NO. 4, 1D} <br />� �__ a()( /,,� " �, - <br />CITY MANA R <br />RECOMMENDED ACTION <br />Receive and file. <br />DISCUSSION <br />:7:z•rtei•Ia MI3111H411•1ILTrA-A <br />F19yC ;i]we <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s' 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. Specifically AB 2853 and Government Code <br />Section 53646 makes it permissible and not mandatory that a quarterly report be submitted <br />within 30 days following the end of the quarter covered by the report. Although Quarterly Reports <br />to City Council are no longer required to be submitted within 30 days, staff believes for it to be <br />prudent for the report continue to be provided. The legislation specifies that this quarterly report <br />contain the seven major elements listed below: <br />1. Type of investments <br />2. Date of maturity <br />3. Par and dollar amounts invested in each security <br />4. Weighted average maturity of the investments <br />5. Market value as of the date of the report <br />6. Source of the market value information <br />7. Any funds, investments or programs, including loans, <br />under the management of contracted parties <br />These specifications include 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 <br />basis. Staff performs an end -of -month expenditure analysis to comply with the expenditure <br />requirement and a statement confirming the ability to meet this requirement in the monthly -and <br />quarter- ending Treasurer's Report. The information is in compliance with State law and the <br />City's Investment Policy. <br />19D -1 <br />
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