Title
INVESTMENT REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2015
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RECOMMENDED ACTION
Recommended Action
Council accept the report.
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SUMMARY
Transmitted herewith is the City's investment report for the quarter ended September 30, 2015. To meet the reporting requirements set forth in the California Government Code Sections 53600 et seq. and the City of Chula Vista Investment Policy and Guidelines, a separate report was distributed to the City Council in July.
ENVIRONMENTAL REVIEW
The Development Services Director has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that the activity is not a "Project" in accordance with Section 15378(b)(5) of the State CEQA Guidelines because it involves only acceptance of the Quarterly Investment Report; therefore it is an organizational or administrative activity of government that will not result in a direct or indirect physical change in the environmental; 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, 2015 was $225,792,694 and total cash and investments held by trustees was $75,036,187.
The cash and investments held by the City are composed of the following components: Cash/Time Deposits ($16,455,924), Managed Investment Portfolio ($153,889,095), State of CA Local Agency Investment Fund ($11,626,808), and County of San Diego Pooled Investment Fund ($39,542,343). Cash and investments held by the City and the trustees continue to be invested in accordance with the Government Code and the Council Investment Policy as adopted by Resolution 2015-041 on March 3, 2015.
In June 2015, staff reviewed the City's cash flow forecasts and made the determination that excess cash was being h...
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