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HomeMy WebLinkAboutMINUTES - 08021988 - 1.55 .0.5. To� BOARD OF SUPERVISORS FROM • Phil Batchelor Contra County Administrator Costa DATE: July 26, 1988 SUBJECT: County Investment Policy SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUST-IFICATION RECOMMENDATION• Acknowledge receipt of report for period June 1, 1988 through June 30, 1988 from County Treasurer-Tax Collector, pursuant to Government Code Section 53646, commenting on County investment policy and identifying specific investments currently held by the Treasurer. BACKGROUND: SB 115 (Chapter 1526, Statutes of 1985) became effective January 1 , 1986. SB 115 amended Government Code Section 53601, 53635 and 53646 relating to funds of local agencies to require the Treasurer to annually render a statement of investment policy to the Board of Supervisors, and then to file a monthly report with the County Administrator and Board of Supervisors detailing , investments made by the Treasurer. The Treasurer has complied with the provisions of SB 115. We herewith transmit a copy of the monthly report as of June 30, / 1988 . We will continue to file these reports with the Board on a Irl monthly basis. CONTINUED ON ATTACHMENT: YES SIGNATURE: X RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE APPROVE OTHER S 1 GNATURE I S): ACTION OF BOARD ON August 2, 1988 APPROVED AS RECOMMENDED OTHER VOTE OF SUPERVISORS 1 HEREBY CERTIFY THAT THIS IS A TRUE <UANIMOUS (ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN AYES; NOES: AND ENTERED ON THE MINUTES OF THE BOARD ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN. CC: County Administrator ATTESTED AUG 2 1988 County Auditor-Controller PHIL BATCHELOR, CLERK OF THE BOARD OF County Treasurer-Tax Collector SUPERVISORS AND COUNTY ADMINISTRATOR BY ,DEPUTY M382/7-83 Contra Costa County office of RECEIVED COUNTY TAX COLLECTOR-TREASURER Contra Costa County JUL 1$ 1996 Rooms 100-101 Finance Buildint Office 4f Martinez, California County AdminiStrator Date: July 15 , 1988 To: Phil Batchelor , County Administrator Attention: Claude van garter , Assistant County Administrator From: Alfred P . Lomeli , Treasurer-Tax Collector Senate Bill #115 , Chapter 1526 (Amends Government Code 53601, Subject: 53635 and 53646 , County Investment Policy. ) The attached investment information is intended to comply with the above Senate Bill #115 and covers the period of time 6/1/88 through 6/30/88 . APL:dmp attachments C n Phil Batchelor, County Administrator July 15 , 1988 page two Senate Bill #115, Cont'd Please be advised that Contra Costa County has no Reverse . Repurchase Agreement investments made pursuant to Government Code Sections 53601 (subdivision i) or 53635 (subdivision i) or any investments made pur- suant to Government Code 53601.1. Contra Costa County' s projected disbursements for July, 1988, are $93 , 846 ,000 . 00 . This expenditure total will be met through projected cash receipts of $98.,850 ,000 . 00 . The L.A.I .F. is a pool type investment administered by the State. The County has always maintained an investment in this fund because it has certain inherent advantages to us , the most important being the ability to make an investment without declaring the maturity date. County L.A.I .F. $ 687 ,671 Current Market Value is 1000 of par, or $ 687 ,671 Phil Batchelor, County Administrator July 15, 1988 page three Senate Bill #115, Cont 'd INVESTMENTS OF MORE THAN ONE YEAR MATURITY Date: June 30, 1988 SMALL BUSINESS ADMINISTRATION LOAN LISTING OF GOVERNMENT GUARANTEED LOANS EARNINGS APPLICABLE NAME LOAN AMOUNT RATE PRIME RATE 9% BILL MARTIN CHEVROLET $ 44,754 . 79 prime LESS 1/8% GUILLEY TRUCKING, INC. $ 202 ,439 . 21 prime MEDICAL ANALYSIS $ 171,002. 62 prime + 20 SYSTEMS PRINCETON MOTOR INN $ 342 ,238 . 13 prime $ 760 , 434 .75 Market Value of the above is 100% of loan amount with minor variations for those with higher than prime earnings . The above investments were made for the purpose of increasing overall county investment yield. Yields on this type of investment.�.are,_:the highest rate-of return that we receive. This type of investmeint:.is geared to the bank prime rate and adjusts quarterly so that returns are- always high with relation to other current rates of return. 1RPT: TDIG CONTRA COSTA COUNTY PAGE 2 RUNx 07/14/88 #4 x ZKO TREA URERI S OFFICE MOVE' MAX TIME DEPOSIT INVESTMENTS OUTSTr'ND if-3O . ' FLitdL►a. B�,'�:'' .CEf IE Rr'�L. CL�#..i�•3T'e` I�t',.+��'i'�f�'PkT <LiR£:f#►'Y-•E--- MATURITY L I NE D.AC'. It-IT. ATE r' TF Pte. CODE.' t!£. RATE' <f 3NC'PA -- FUND NO. 8177x C,ENFRAi- COUNTY INVESTMENTS 07/20.187 07.•'15.188 21407 3,4 0 8.'x'00 06fy8.f88 - P.:�i�i 88 srJ. tx �i�": €�. � < qp L 1 3.."aa 08.: .1[o.i as ►'.,<.1€a0' ._��t also 7. 000. .. 5'w s .12 ,00 106.12 0.1 Sick 0 a 252-162, +• '> Ise _ 11 88 2489 26 0 S. 7500 .18€E 15•���r�.£� ,.'�J S..< . '�: � ?M'C•��i� ,.&���it'+Se�/��t FUND NO. 8177. 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