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ADMINISTRATIVE
COMMITTEE |
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4. |
CONSIDER APPROVAL OF FIRST QUARTER FISCAL YEAR 2011-2012 INVESTMENT
REPORT |
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Meeting
Date: |
December 5, 2011 |
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 considered this item on December 5, 2011 and recommended _____________. |
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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 September 30, 2011. District staff has determined that these investments do not include sufficient liquid funds to meet anticipated expenditures for the next six months; 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 suspended, the District continues to use its reserves to cover for current expenditure. The first tax payment received in December will go towards replenishing some of the reserve fund.
RECOMMENDATION: The Administrative Committee considered this item at its December 5, 2011 meeting and voted _ to _ to recommend ___________.
4-A Investment Report as of September 30, 2011
U:\staff\word\committees\Admin\2011\20111205\04\item4.docx