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TO: BOARD OF SUPERVISORS » � � �� �� Contra
FROM: William J. Pollacek, Treasurer-Tax Collector a Costa
DATE: September 14, 2004 s------------ County
ett/17
SUBJECT: Treasurer's Investment Report through June 30, 2004
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
Recommendation:
ACCEPT the report from the Treasurer-Tax Collector on County investments as of
June 30, 2004.
FISCAL IMPACT: None
BACKGROUND/REASON (S) FOR RECOMMENDATION (S):
Government Code section 53646 requires the County Treasurer to prepare and submit
quarterly reports to the Board of Supervisors describing County investments including
type, cost, par value and market value. Attached please find the report covering the
period April 1, 2004 through June 30, 2004. Section 3 of the balance of the report is
an appendix with financial data, which is available for reference at the Clerk of the
Board's Office.
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Attachment +
X YES SIGNATURE:
CONTINUED ON ATTACHMENT:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATnN OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURES;
ACTION OF B ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF
THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
UNANIMOUS(ABSENT ' )
AYES: NOES:
ABSENT: ABSTAIN:
Contact:
Cc: Treasurer-Tax Collector's Office ATTESTED
)W SWEETEN,CLERK OF THE BOARD OFSUPERVISORS
AND COUNTY ADMINISTRATOR
BY: DEPUTY
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EXECUTIVE SUMMARY
• The Treasurer's investment portfolio is in compliance with
- Government Code 53600 et. seq..
• The Treasurer's investment portfolio is in compliance with the
Treasurer's current investment policy.
• The Treasurer's investment portfolio has no securities lending,
reverse repurchase agreements or derivatives.
• The total investment pool equaled $1,844,852,600 on June
30, 2004. The fair value was $1,843,784,243 which was
99.94% of cost.
• The weighted average maturity of the total investment pool
was 60.71 days. Over 94 percent of the portfolio or over
$1,734 million will mature in less than a year. The County is
able to meet its cash flow needs for a few months, depending
on the impact of the State budget on local governments and
school districts.
• The audit for CY 2003 on the activities of the County
Treasurer's Office and the Treasury Oversight Committee
was reviewed by the committee. In all material aspects there
were no adverse findings, except for the recommendation to
maintain sufficient staffing.
• The Treasurer's Investment Policy for FY 2004-2005 was
reviewed and submitted to the County Board of Supervisors
for acceptance. The policy was approved on June 8, 2004.
A:lworftxecufiv.sum
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NOTES TO INVESTMENT PORTFOLIO SUMMARY AS OF JUNE 30,2004
1. All report information is unaudited but due diligence was utilized in its preparation.
2. There may be slight differences between the portfolio summary page and the attached
exhibits and statements for investments managed by outside contractors or trustees. The
variance is due to the timing difference in recording transactions accomplished by
contracted parties during interim periods and later transmitted to the appropriate county
agency and/or the Treasurer's Office. In general, the Treasurer's records reflect booked
costs at the beginning of a period.
kNotes