TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Monthly Report on Investments for April and May 2024.
BRIEFING ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider receiving the Monthly Reports on Investments for April and May 2024.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
These Monthly Investment Reports are provided to the Board of Directors to demonstrate 1) the District's compliance with Investment Policy Guidelines and 2) the District's ability to meet its liquidity needs in the near term.
BUDGETARY/FISCAL IMPACT:
There are no budgetary or fiscal impacts associated with this report.
BACKGROUND/RATIONALE:
As of, April 30, 2024, the District had the following investments:
Principal Public Deposit Sweep Account (Collateralized 110%)
$37.91 million
Money Market Accounts (7 small banks - FDIC Insured)
$1.80 million
Treasury Bills
$154.75 million
.6 Million
LAIF
$0.04 million
Agency Bonds
$5.00 million
As of, May 31, 2024, the District had the following investments:
Principal Public Deposit Sweep Account (Collateralized 110%)
$33.96 million
Money Market Accounts (7 small banks - FDIC Insured)
$1.80 million
Treasury Bills
$159.76 million
.6 Million
LAIF
$0.04 million
Agency Bonds
$5.00 million
In compliance with Section 15.0 of Board Policy 349, Investment Policy, the Monthly Reports on Investments for April and May 2024 are 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 has been in line with the federal funds rate, as the funds are invested mainly in Treasury bills and Money market funds. Due to the changing US econ...
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