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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 7, 2006 <br />TITLE: <br />QUARTERLY REPORT OF INVESTMENTS AS <br />OF JUNE 30, 2006 <br />~~ ~.1~ ,~ <br />CITY MANAGER <br />RECOMMENDED ACTION <br />Receive and file. <br />DISCUSSION <br />OF COUNCIL USE ONLY: <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 1 s` Reading <br />^ Ordinance on 2ntl Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />FILE N(JMBER <br />In 1995, the State of California enacted if <br />reporting requirements relative to investment c <br />agencies. These requirements, which became effec <br />mandate that a statement outlining the ability c <br />Redevelopment Agency to meet the budgeted expend <br />six months be submitted to the City Council on <br />legislation dictates that this quarterly repor <br />seven major elements: <br />- Type of investments; <br />- Date of maturity; <br />- Par and dollar amounts invested in eact <br />- Weighted average maturity of the invest <br />- Market value as of the date of the rep< <br />- Source of the market value information, <br />- Any funds, investments or programs, it <br />management of contracted parties. <br />The Finance and Management Services Executive Di: <br />prepared a monthly report of investments. This c <br />provide this information monthly; however, a qua: <br />investments will be presented at a regular counc: <br />with State law and the City's Investment Policy, <br />(Exhibit 1) accurately reflects all pooled inves <br />the City and Redevelopment Agency as of June 30, <br />gislation revising the <br />f funds by governmental <br />tive on January 1, 1996, <br />f both the City and the <br />tures for the subsequent <br />a quarterly basis. The <br />contain the following <br />security; <br />ents; <br />rt ; <br />and <br />:lading loans, under the <br />ector has historically <br />ffice will continue to <br />terly report of <br />1 meeting. In compliance <br />the attached report <br />ments held on behalf of <br />2006. <br />19C-1 <br />