TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Monthly Report on Investments for June, July and August, 2023
BRIEFING ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider receiving the Monthly Reports on Investments for June, July, and August.
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 June 30, 2023, the District had the following investments:
Public Inst. Bank Deposit Account (Collateralized 110%)
$ 28.70 Million
Money Market Accounts (7 small banks - FDIC Insured)
$ 1.77 Million
Treasury Bills
$153.12 Million
LAIF
$ 0.04 Million
Agency Bonds
$ 5.00 Million
As of July 31, 2023, the District had the following investments:
Public Inst. Bank Deposit Account (Collateralized 110%)
$ 29.74 Million
Money Market Accounts (7 small banks - FDIC Insured)
$ 1.77 Million
Treasury Bills
$153.02 Million
LAIF
$ 0.04 Million
Agency Bonds
$ 5.00 Million
As of August 31, 2023, the District had the following investments:
Public Inst. Bank Deposit Account (Collateralized 110%)
$ 30.30 Million
Money Market Accounts (7 small banks - FDIC Insured)
$ 1.77 Million
Treasury Bills
$152.96 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 June, July, and August of 2023 are forwarded to the Board of Directors for review.
The portfolio contained in the report...
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