HomeMy WebLinkAboutMINUTES - 11102015 - HA C.03RECOMMENDATIONS
RECEIVE the Housing Authority of the County of Contra Costa’s investment report for the
quarter ending September 30, 2015.
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, types 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.
Action of Board On: 11/10/2015 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
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: November 10, 2015
Joseph Villarreal, Executive Director
By: June McHuen, Deputy
cc:
C.3
To:Contra Costa County Housing Authority Board of Commissioners
From:Joseph Villarreal, Housing Authority
Date:November 10, 2015
Contra
Costa
County
Subject:Housing Authority Investment Report for the Quarter Ending September 30, 2015
In summary, HACCC had $23,884.67 in interest earnings for the quarter ending September
30, 2015. That interest was earned within discrete programs and most of the interest earned
is available only for use within the program that earned the interest. Further, interest
earnings may be restricted to specific purposes within a given program.
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 is 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 September 30, 2015 is shown below. A more
detailed report is attached.
Public Housing Housing Choice Voucher
Fund
Rental
Rehabilitation
Fund
State & Local
Non-Restricted
Interest
Earned
Restricted
Interest
Earned
Non-Restricted
Interest
Earned
Restricted
Interest
Earned
Non-Restricted
Interest
Earned
$4,749.93 $261.61 $12,704.31 $805.89 $5,362.93
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).
CLERK'S ADDENDUM
ATTACHMENTS
Inv Report for QE 9-30-15