HomeMy WebLinkAboutStaff ReportSuccessor Agency Staff Report
Jul 31, 2013
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Staff Report: Successor Agency's Investment Report for the quarter ended June 30, 2013,
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The California Government Code (§ 53646(b)) requires that, when the treasurer or the chief
fiscal officer of a local agency renders to the legislative body of the agency a quarterly report on
the agency's investment portfolio, such report shall include the following information regarding
all securities, investments, and moneys held by the local agency:
v type of investment;
issuer (bank or institution);
:0, date of maturity;
v dollar amount invested; and
current market valuation as of the date of the report.
In addition, the Government Code (§ 53646(b)(2)) requires that the report states the City's
compliance with its investment policy and includes a statement regarding the ability of the local
agency to meet its pool's ability to meet its expenditure requirements Code (§ 53646(b)(3)).
OVERVIEW OF SUCCESSOR AGENCY INVESTMENTS
The Successor Agency invests most of its funds with the California Treasurer's Local Agency
Investment Fund ("LAIF"). This is a liquid investment pool, which allows participants to earn
market rate returns of large investments, while retaining access to funds within 24 hours of a
withdrawal request. For the quarter ended June 30, 2013, the LAIF's interest rate was 0.24%.
The investment of debt service reserve funds; the 1999, 2004, 2005, and 2011 Tax Allocation
Bonds; and the HUD Section 108 Loan Program funds are maintained by the designated fiscal
agent. These funds account for 17.97% of the Successor Agency's portfolio.
Summaries of the Successor Agency's investment portfolio are illustrated on the next page.
Page 2
Staff Report: Successor Agency's Investment Report for the quarter ended June 30, 2013.
July 31, 2013
SUMMARY OF INVESTMENT PORTFOLIO
For the Quarter Ended June 30, 2013
% of
Investment Type
Book Value
Market Value
Portfolio
LAIF
$ 33,323,956
$ 33,323,956
$2.03%
HUD Section 108 Loan
514,879
514.879
127%
Cash with Fiscal Agent
6,783,733
6,783.733
16.70%
Totals for March 2013
$ 40,022,568
$ 40,622,568
100.00%
' Includes accrued interest
TOTAL MARKET
VALUE
$40,622,568
Cash with
Fiscal Agent
$6,783,733�
HUD Sectic
108
$51
COMPLIANCE STATEMENT
All of the Successor Agency's investments are in compliance with the City's investment policy
(City Council Policy No. 203) and the California Government Code (§ 53601 et seq).
FINANCIAL STATEMENT
Total LAIF gains/(losses), realized and unrealized, for the period were S21,133.
Staff certifies that there are sufficient funds to meet the pool's expenditure requirements.
RECOMMENDATIONS
Accept and file the Successor Agency Investment Report for the quarter ended June 30, 2013.