HomeMy WebLinkAboutMINUTES - 02102015 - HA C.01RECOMMENDATIONS
RECEIVE the Housing Authority of the County of Contra Costa’s investment report for the quarter ending December
31, 2014.
BACKGROUND
California Government Code (CGC) Section 53646 requires the Housing Authority of the County of Contra Costa
(HACCC) to present the Board of Commissioners with a quarterly investment report that provides a complete
description of HACCC’s portfolio. The report is required to show the issuers, type of investments, maturity dates, par
values (equal to market value here) and the current market values of each component of the portfolio, including funds
managed by third party contractors. It must also include the source of the portfolio valuation (in HACCC’s case it is
the issuer). Finally, the report must provide certifications that (1) all investment actions executed since the last report
have been made in full compliance with the Investment Policy and; (2) HACCC will meet its expenditure obligations
for the next six months. (CGC 53646(b)).
The state-mandated report has been amended to indicate the amount of interest earned and how the interest was
allocated. The amended report is attached.
In summary, HACCC had $22,940.01 in interest earnings for the quarter ending December 31, 2014. That interest
was earned within discrete programs and most of the interest earned is available only for use within the program
which earned the interest. Further, interest earnings may be restricted to specific purposes within a given program.
Action of Board On: 02/10/2015 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF COMMISSIONERS
AYE:John Gioia, Commissioner
Candace Andersen,
Commissioner
Mary N. Piepho,
Commissioner
Karen Mitchoff,
Commissioner
Federal D. Glover,
Commissioner
Aqueela Bowie,
Commissioner
ABSENT:Fay Nathaniel,
Commissioner
Contact: 925-957-8028
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: February 10, 2015
Joseph Villarreal, Executive Director
By: June McHuen, Deputy
cc:
C.1
To:Contra Costa County Housing Authority Board of Commissioners
From:Joseph Villarreal, Housing Authority
Date:February 10, 2015
Contra
Costa
County
Subject:Investment Report For The Quarter Ending December 31, 2014
BACKGROUND (CONT'D)
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The Housing Choice Voucher Program reserve as of 12/31/2013 held in cash and investments was transitioned to
a HUD held program reserve account. The only funds remaining in investments for the Housing Voucher program
are for the Family Self Sufficiency escrow account.
Non-restricted interest earnings within both the voucher and public housing programs must be used solely within
those programs, but such interest earnings can be used for a wider range of purposes within the individual
programs. The interest earned in the State and Local fund can be used for any purpose within HACCC’s scope of
operations.
The interest earned for the quarter ending December 31, 2014 is shown below. A more detailed report is attached.
Public Housing Housing Choice Voucher
Fund
Rental
Rehabilitation
Fund
Management
Non-Restricted
Interest Earned
Restricted
Interest
Earned
Non-Restricted
Interest Earned
Restricted
Interest Earned
Non-Restricted
Interest Earned
$3,048.37 $190.08 $15,585.69 $440.99 $3,674.88
FISCAL IMPACT
None. For reporting purposes only.
CONSEQUENCE OF NEGATIVE ACTION
Should the Board of Commissioners elect not to accept the investment report, it would result in an audit finding of
non-compliance and could ultimately affect future funding from the U.S. Department of Housing and Urban
Development (HUD).
CHILDREN'S IMPACT STATEMENT
Not applicable.
CLERK'S ADDENDUM
ATTACHMENTS
12-31-14 Investment Report