TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager
SUBJECT: Monthly Report on Investments
BRIEFING ITEM
RECOMMENDED ACTION(S):
Title
Consider receiving the Monthly Report on Investments for June and July 2019.
Body
BUDGETARY/FISCAL IMPACT:
There are no budgetary or fiscal impacts associated with this report.
BACKGROUND/RATIONALE:
As of June 30, 2019, the District had the following investments:
|
Public Inst. Bank Deposit Account (Collateralized 110%) |
$22.95 Million |
|
Money Market Accounts (7 small banks - FDIC Insured) |
$ 1.76 Million |
|
Certificates of Deposit (FDIC Insured) |
$0.00 Million |
|
Treasury Bills |
$39.53 Million |
|
Treasury/Agency Notes |
$0.00 Million |
As of July 31, 2019, the District had the following investments:
|
Public Inst. Bank Deposit Account (Collateralized 110%) |
$22.97 Million |
|
Money Market Accounts (7 small banks - FDIC Insured) |
$ 1.76 Million |
|
Certificates of Deposit (FDIC Insured) |
$0.00 Million |
|
Treasury Bills |
$39.53 Million |
|
Treasury/Agency Notes |
$0.00 Million |
In compliance with Section 15.0 of Board Policy 349, Investment Policy, the Monthly Report on Investments for June and July 2019 is forwarded to the Board of Directors for review.
The portfolio contained in the report is in compliance with Board Policy 349, and the District is able to meet its expenditure requirements for the next six months.
Return on the District's investments is consistent with past months as the interest rate has not significantly changed.
ADVANTAGES/DISADVANTAGES:
This report does not recommend a course of action with notable advantages or disadvantages.
ALTERNATIVES ANALYSIS:
This report is being provided to inform the Board of activities of the Treasury Department.
PRIOR RELEVANT BOARD ACTION/POLICIES:
Board Policy 349 - Investment Policy
ATTACHMENTS:
1. Monthly Report on Investments for June and July, 2019
Approved by:
Claudia L. Allen, Chief Financial Officer
Reviewed by:
Ralph Martini, Controller
Prepared by:
Beverly Abad-Fitzgerald, Treasury Administrator