ITEM: CONSENT CALENDAR

7. CONSIDER APPROVAL OF SECOND QUARTER INVESTMENT REPORT

Meeting Date: March 15, 2004 Budgeted: N/A

Program/Line Item No.: N/A

Staff Contact: Rick Dickhaut Cost Estimate: N/A

General Counsel Approval: N/A

Committee Recommendation: The Administrative Committee reviewed this item on March 10, 2004 and recommended approval.

CEQA Compliance: N/A

SUMMARY: The District’s investment policy requires that each quarter the Board receive and approve a report of investments held by the District. Exhibit 7-A is the report for the quarter ending December 31, 2003. District staff has determined that these investments include sufficient liquid funds to meet anticipated expenditures for the next six months. This portfolio is in compliance with the current District investment policy, the California Government Code, and the permitted investments of Monterey County.

RECOMMENDATION: The Administrative Committee considered this matter at its March 10, 2004 meeting and voted 3 to 0 to recommend approval. This item will be approved, if it is adopted with the Consent Calendar.

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