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 January, 2020.
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
This Monthly Investment Report is 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 January 31, 2020, the District had the following investments:
Public Inst. Bank Deposit Account (Collateralized 110%)
$ 22.12 Million
Money Market Accounts (7 small banks - FDIC Insured)
$ 1.77 Million
Certificates of Deposit (FDIC Insured)
$ 0.00 Million
Treasury Bills
$ 39.65 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 January 2020 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 has been in line with the federal funds rate, as the funds are invested mainly in Treasury bills.
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 January, 2020
Prepared by:
Sue Lee, Director of Revenue Management
Approved/Reviewed by:
Claudi...
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