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HomeMy WebLinkAboutMINUTES - 06032003 - C137 TO: BOARD OF SUPERVISORS �yy, _ Contra r�. Vit` FROM: William J. Pollacek, Treasurer-Tax Collector � Y Costa DATE: June 3, 2003 r°�r�`��:�� Cou my 4/! ' SUBJECT: TREASURER'S INVESTMENT REPORT THROUGH March 31, 2003 SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION Recommendation: ACCEPT the report from the Treasurer-Tax Collector on County investments as of March 31 , 2003. BACKGROUND/REASON-(S) FOR RECOMMENDATION (S): Government Cade section 53646 requires the County Treasurer to prepare quarterly reports to the Burd of Supervisors describing County investments including type, cost, par value and market value. Attached please find the report covering the period through March 31 , 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 Attachment CONTINUED ON ATTACHMENT: _,� YES SIGNATURE: s RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION F- ARD COMMITTEE _ APPROVE OTHER SIGNATURE(S):�`- } ACTION OF BO ON,JUNE 3, 2003 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 X UNANIMOUS(ABSENT NONETHE BOARD OF SUPERVISORS ON THE DATE SHOWN. } AYES: NOES: ABSENT: ABSTAIN: Contact: �4 {{££ s Cc: Treasurer-Tax Collector's Office S ATTESTED .TUNE 3, 2003 JOHN SWEETEN,CLERK OF THE BOARD OFSUPERVISORS AND COUNTY ADMINISTRATOR BY: -- DEPUTY CONTRA COSTA COUNTY TREASURER'S QUARTERLY INVESTMENT REPORT AS OF MARCH 31, 2003 TABLE OF CONTENTS Page 1, Executive Summary 1 II. Treasurer's County Investment Pool Summary 2 111. Appendix A. 'Investment Portfolio Detail--Managed by Treasurer's Office 4 1. Portfolio 5 2. 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. CaiTrust 2-49 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 5. BNY Western Trust Services. Community Facilities District 5-1 No. 1991-1 (Pleasant Hill Bart Station Area) 1993 Special Tax Refunding Bonds Reserve 5. Mechanics Bank for Micro Enterprise Loans 6-1 7. Cather 7-1 i EXECUTIVE SUMMARY • The Treasurer's investment portfolio is in compliance with Government Code 53600 et. sect.. • 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 $1,753,736,146 on March 31, 2003. The fair value was $1,761,061,582 which was 100.4% of cost. • The weighted average maturity of the total investment pool was 75.17 days. Over 91 percent of the portfolio or over $1,6105 million will mature in less than a year. The County is able to meet its cash flow needs for the next six months. However, the Mate of California budget revision in May 2003 and it's Fiscal Year 2003-2004 budget may negatively impact the county and it's pool participants. In this event the cash flow coverage may be less than six months. • The County Treasurer's investment policy for fiscal year 2003- 2004 will be reviewed by the Investment Oversight Committee in the May 20, 2003 meeting. ► The examination of the activities of the County Treasurer's Office and the Treasury Oversight Committee as required by Government Code Section 27134 is underway. The audit is expected to be completed in June 2003. I a a a o a a a o g a a c Q� 30 a a a a a a o a a a a a '4 }'°" .� tC+�� e-• Ch C7 t"t CLS CO CLS M 1- e� i� CD q 0n p O +- N CLL) 1O`, tq N C 0 Cl1 CCS d' � d3 h N C5 r aD :s CV C+? 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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 3