Title
INVESTMENT REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2013
Recommended Action
RECOMMENDED ACTION: Council accept the report.
Body
SUMMARY
Transmitted herewith is the City's investment report for the quarter ended September 30, 2013. A separate information memo was distributed to the City Council in October to meet the reporting requirements set forth in the California Government Code Sections 53600 et seq. and the City of Chula Vista Investment Policy.
ENVIRONMENTAL REVIEW
The Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that the activity is not a "Project" as defined under Section 15378 (b)(4) of the State CEQA Guidelines; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the activity is not subject to CEQA. Thus, no environmental review is necessary.
BOARD/COMMISSION RECOMMENDATION
Not Applicable
DISCUSSION
The total cash and investment portfolio held by the City as of September 30, 2013 was $209,747,129. This is a decrease of approximately $18M from June 30, 2013. This is primarily due to the fact that only a small portion of the City's major revenues such as property or sales tax are received during this quarter compared to the other quarters. For the quarter ended September 30, 2013, the earned interest yield was 0.66%, a slight increase from the 0.62% reported for the quarter ended June 30, 2013. The weighted average maturity as of September 30, 2013 remained the same from the previous quarter's 2.18 years which is within the Council Policy of less than 3.0 years. The weighted average maturity remains sufficiently liquid to enable the City to meet all operating requirements that might be reasonably anticipated.
DECISION-MAKER CONFLICT
Staff has determined that the action contemplated by this item is ministerial in nature and does not require the City Council members to make or particip...
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