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TO: BOARD OF SUPERVISORS ct } °� Contra
FROM: William J. Pollacek, Treasurer-Tax Collector o' / 's Costa
DATE: June 5, 2007 "--co co N v o u my
SUBJECT: COUNTY TREASURER'S INVESTMENT REPORT as of March 31, 2007
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
Recommendation:
ACCEPT the Treasurer's Investment Report as of March 31 , 2007.
BACKGROUND/REASON (S) FOR RECOMMENDATION (S):
Government Code Section 53646 encourages the County Treasurer to prepare
quarterly reports to the Board of Supervisors describing the County investments
including type, cost, par value, and market value. Attached please find the report
covering the period January 1 , 2007 through March 31 , 2007. 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:
✓ RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDA I F BOARD COMMITTEE
✓ APPROVE OTHER
SIGNATURE(S): ,
ACTION OF BOA N O��®1 / O� 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 JOHN COG OLERKIOFTH�O RD OFSUPERVISORS
AND C NTY A INISTRATOR
BY: DEPUTY
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CONTRA COSTA COUNTY
TREASURER'S QUARTERLY INVESTMENT REPORT
AS OF MARCH 31, 2007
EXECUTIVE SUMMARY
The Treasurer's investment portfolio is in compliance with
Government Code 53600 et. seq..
The Treasurer's investment portfolio is not in compliance with
the Treasurer's current investment policy as of March 31,
2007.**
® The Treasurer's investment portfolio has no securities lending,
reverse repurchase agreements or derivatives.
• The total investment pool equaled $2,389,014,333 on March
31, 2007. The fair value was $2,392,016,536 which was
100.13% of cost.
• The weighted average maturity of the total investment pool
was 87 days. Over 92 percent of the portfolio or over $2.2
billion will mature in less than a year. The County is able to
meet its cash flow needs for at least the next few months.
• Pursuant to Government Code Section 27134, the
examination of the activities of the County Treasurer's Office
and the Treasury Oversight Committee for CY 2006 shall be
completed and the report will be reviewed at the May 15,
2007 meeting.
• Pursuant to Government Code Section 27133, the Treasury
Oversight Committee will review the Treasurer's Investment
Policy for the upcoming fiscal year.
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NOTES TO INVESTMENT PORTFOLIO SUMMARY AS OF MARCH 31, 2007
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.
** As of March 31, 2007 the information in this report contained data which did not comply
with requirements related to directed investments in the County's Investment Policy.
Investment numbers 73054 and 73477 had exceeded the permissible limits per issuer.
The compliance items were immediately replaced and full compiance was obtained
reducing exposure risk without loss of principal.
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