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ITEM: |
CONSENT
CALENDAR |
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5. |
CONSIDER APPROVAL OF SECOND QUARTER FISCAL YEAR 2011-12 INVESTMENT
REPORT |
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Meeting
Date: |
March 19, 2012 |
Budgeted: |
N/A |
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From: |
David J.
Stoldt, |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Suresh
Prasad |
Cost Estimate: |
N/A |
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General Counsel Review: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on March 12, 2012 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 5-A is the report for the quarter ending December 31, 2012. District staff has determined that these investments do not include sufficient liquid funds to meet anticipated expenditures for the next six months and as a result this portfolio is not in compliance with the current District investment policy. This portfolio is in compliance with the California Government Code, and the permitted investments of Monterey County. As the user fee revenue is currently reduced, the District continues to use its reserves to cover for current expenditure.
RECOMMENDATION: The Administrative Committee considered this item at its March 12, 2012 meeting and voted 3 to 0 to recommend approval.
5-A Investment Report as of December 31, 2012
U:\staff\Boardpacket\2012\20120319\ConsentCal\05\item5.docx