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AGENDA BILL Agenda Item No. 5(F) Dat~: April22, 2014 To: El Cerrito City Council From: Geoff Thomas, Finance Manger Lisa Malek-Zadeh, Finance Director/City Treasurer Subject: Quarterly Investment Report for Period Ending March 31, 2014 ACTION REQUESTED Receive and file the City's Quarterly Investment Report for the period ending March 31, 2014. QUARTERLY INVESTMENT REPORT REVIEW The Quarterly Investment Report for January 2014 through March 2014 shows that the City's investments had a par value of $1,721,273 as of March 31, 2014. The decrease of $59,738 from last quarter is due to the use of Solar Project proceeds of $64,768 for payments to the contractor offset by interest earned on the debt service reserves. The City continues to have minimal investments that are not required for debt service reserves and to have limited, if any, interest earnings on restricted funds. Of the total amount invested, $2,701 is invested in the pooled funds with the State Treasurer's Local Agency Investment Funds (LAIF); $378,572 is held in money market funds; and $1,340,000 is invested in agency debt investments. FINANCIAL CONSIDERATIONS The purpose of the City's Investment Policy is to provide guidelines for prudent investment of the City's idle funds and maximum efficiency of the City's cash management system. The ultimate goal is to enhance the City's economic condition while protecting the funds at all times. The City's investments comply with the "Authorized Investments" section of the Investment Policy. Reviewed by: -~JL Scott Hanin City Manager Attachment: 1. City of El Cerrito Quarterly Investment Report For Period Ending March 31, 2014 ---PAGE BREAK--- Agenda Item No. 5(F) Attachment 1