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ITEM: |
CONSENT
CALENDAR |
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4. |
CONSIDER APPROVAL OF FOURTH QUARTER INVESTMENT REPORT |
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Meeting
Date: |
August 21, 2006 |
Budgeted: |
N/A |
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From: |
David A.
Berger, |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
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Cost Estimate: |
N/A |
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General Counsel Approval: N/A |
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Committee Recommendation: The Administrative Committee considered this item on August 7, 2006 and recommended approval. |
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CEQA Compliance: N/A |
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SUMMARY: The District’s investment policy requires
that each quarter the Board of Directors receive and approve a report of
investments held by the District. Exhibit 4-A is the report for the quarter
ending June 30, 2006. 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
During this reporting period the Wastewater Reclamation Project’s (Project) Operations and Maintenance Reserve and Renewal and Replacement Reserve accounts were transferred to the Carmel Area Wastewater District in accordance with the Project’s Amended Construction and Operations Agreement dated December 15, 2004. The Project’s Operations and Maintenance account (Bank of America) and Certificate of Participation accounts (U.S. Bank) will remain under the control of the District and will continue to be reported on future Quarterly Investment Reports.
RECOMMENDATION: The Administrative Committee considered this item at its August 7, 2006 meeting and voted 2 to 0 to recommend approval.
4-A Investment Report as of June 30, 2006
U:\staff\word\boardpacket\2006\2006boardpackets\20060821\ConsentCal\04\item4.doc