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ADMINISTRATIVE
COMMITTEE
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1.
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CONSIDER APPROVAL OF ANNUAL
UPDATE OF INVESTMENT POLICY
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Meeting
Date:
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January 26, 2006
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Budgeted:
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N/A
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From:
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David A.
Berger,
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Program/
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N/A
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General
Manager
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Line Item No.:
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Prepared
By:
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Rick Dickhaut
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Cost Estimate:
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N/A
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General Counsel Approval: N/A
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Committee Recommendation: The Administrative Committee reviewed this
item on January 13, 2006 and recommended ___________________.
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CEQA Compliance: N/A
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SUMMARY: The State of California Government Code requires the
District Board to annually consider the District Investment Policy. The District’s
current investment policy, included as
Exhibit
1-A, was adopted by the Board on September 20, 1997 and no changes have
been made to the policy since that date.
The policy provides guidance for the District Treasurer, who acts on
behalf of the Board in all investment matters.
The policy was last reviewed by the Board on January 27, 2005. District staff has again reviewed the
investment policy and determined that it complies with the current Government
Code; and that it is adequate for protecting safety and providing liquidity
while yielding a reasonable rate of return given current market conditions.
RECOMMENDATION: District staff recommends that the Board
review and approve the investment policy.
The Administrative Committee considered this matter on January 13, 2006
and voted __ to __ to recommend _____________.
This item will be approved if adopted along with the Consent Calendar.
BACKGROUND: The State of California Government Code requires the
District Board to annually review and approve the District Investment
Policy. The District’s current policy
was adopted on September 20, 1997 and has been reviewed annually by the Board
since that time. Additionally, State
law, as well as District policy, requires that each quarter the Board receive
and approve a report of investments held by the District. This requirement has been met as the Board
has received quarterly reports on the contents and performance of the investment
portfolio since adoption of the investment policy.
EXHIBITS
1-A Investment
Policy
U:\staff\word\committees\Admin\2006\20060113\01\item1.doc