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ADMINISTRATIVE
COMMITTEE |
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5. |
CONSIDER APPROVAL OF FOURTH QUARTER FISCAL YEAR 2011-12 INVESTMENT
REPORT |
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Meeting
Date: |
August 13, 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 considered this item on August 13, 2012 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 5-A is the report for the quarter ending June 30, 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 August 13, 2012 meeting and voted _ to _ to recommend ___________.
5-A Investment Report as of June 30, 2012
U:\staff\Board_Committees\Admin\2012\20120813\05\item5.docx