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Report ID: 19-203   
Type: Consent
Meeting Body: Board of Directors - Regular Meeting
Meeting Date: 6/12/2019 Final action: 6/12/2019
Recommended Action: Consider receiving the Monthly Report on Investments for April, 2019.
Attachments: 1. STAFF REPORT, 2. Att.1 Monthly Report on Investments

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 April, 2019.

 

Body

BUDGETARY/FISCAL IMPACT:

 

There are no budgetary or fiscal impacts associated with this report.

 

BACKGROUND/RATIONALE:

 

As of April 30, 2019, the District had the following investments:

Public Inst. Bank Deposit Account (Collateralized 110%)

$22.68 Million

Money Market Accounts (7 small banks - FDIC Insured)

$1.76 Million

Certificates of Deposit (FDIC Insured)

$0.00 Million

Treasury Bills

$39.52 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 April, 2019 is forwarded to the Board of Directors for review.

The portfolio contained in the report complies 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 slightly improving in line with the recent rise of short-term interest rates, although still relatively small primarily due to the District’s Investment Policy restrictions.

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 April

 

 

Approved by:

Claudia L. Allen, Chief Financial Officer

 

Reviewed by:

Sue Lee, Director of Revenue Management

 

Prepared by:

Beverly Abad-Fitzgerald, Treasury Administrator