Title
INVESTMENT REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2014
Body
RECOMMENDED ACTION
Recommended Action
Council accept the report.
Body
SUMMARY
Transmitted herewith is the City's investment report for the quarter ended September 30, 2014. 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 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 environment; 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, 2014 was $217,141,209. For the quarter ended September 30, 2014, the earned interest yield was 0.68%, which is unchanged from the previous quarter. The weighted average maturity as of September 30, 2014 was 1.69 years which is a decrease from the previous quarter's 1.88 years and is within the Council Policy of less than 5.0 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 reviewed the decision contemplated by this action and has determined that it is not site specific and consequently, the 500-foot rule found in California Code of Regulations s...
Click here for full text