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HomeMy WebLinkAboutMINUTES - 09092003 - C.117 C11117 TO: BOARD OF SUPERVISORS .,,._ . �`--. Contra r. F!FROM: William J. Pollcr;k Costa DATE: Sept. J, 2003 coun ., SUBJECT: TREASURER'S INVESTMENT REPORT THROUGH June 30, 2003 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, 2003. E'yAGKGROUNQIREASON ($) 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 through June 30, 2003. 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. WJP:mb CONTINUED ON ATTACHMENT: YES SIGNATURE: RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION I` ARD COMMITTEE APPROVE OTHER C SIGNATURE(S): ' gh APPROVED ACTION OF BO VON ' 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: `4 Cc: Treasurer-Tax Collector's Office ATTESTED JOHN SWEETEN,CLERK OF THE]BOARD OFSUPERVISORS .. AND COUNTY ADMINISTRATOR' BY: •� `. s(j .�,.�..- ..-.""� ,DEPUTY CONTRA COSTA COUNTY TREASURER'S QUARTERLY INVESTMENT REPORT AS OF JUNE 30, 2003 TABLE OF CONTENTS Eage 1. Executive Summary 1 Ill. Treasurer's County Investment Pool Summary 2 lll. Appendix A. Investment Portfolio Detail—Managed by Treasurer's Office 4 1. Portfolio 5 . Market Valuation Sources 19 B. Investment Portfolio Detail—Managed by Outside Contracted Parties 1. State of California Local Agency Investment Fund 1-1 a. Summary 1-2 b. Statements 1-3 2. Capital Asset Management Funds 2-1 a. Wells Fargo Bank 2-2 b. Bank of America 2-22 c. CalTrust 2-50 3. California Arbitrage Management Program for Redevelopment Agency 3-1 (Contra Costa County Public Financing Authority) a. Summary 3-2 b. Portfolio 3-3 4. Guaranteed Investment Contract Summary 4-1 a. Summary 4-2 b, Statements 4-3 . BNY Western Trust Services. Community Facilities District 5-1 No. 1991-1 (Pleasant Hill Bart Station Area) 1998 Special Tax Refunding Bonds Reserve 6. Mechanics Bank for Micro Enterprise Loans 6-1 7. Other 7-1 i 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 $1,861,110,971 on June 30, 2003. The fair value was $1,867,693,972 which was 100.4% of cost. The weighted average maturity of the total investment pool was 66.24 days. Over 93 percent of the portfolio or over $1,743 million will mature in less than a year. The County is able to meet its cash flow needs for a few months. However, the absence of a State of California budget for Fiscal Year 2003-2004 may negatively impact the county and it's pool participants. • The County Treasurer's investment policy for fiscal year 2003- 2004 was accepted by the Board of Supervisors on dune 17, 2003. • The examination of the activities of the County Treasurer's Office and the Treasury Oversight Committee as required by Government Code Section 27134 was completed on June 12, 2003. There were no adverse findings or recommendations. 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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. A.Notes 3