Title
INVESTMENT REPORT FOR THE QUARTER ENDED MARCH 31, 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 March 31, 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 April.
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
As of March 31, 2015, total cash and investments held by the City was $225,156,940 and total cash and investments held by trustees was $71,790,823.
The cash and investments held by the City are composed of the following components: Cash/Time Deposits ($35,235,353), Managed Investment Portfolio ($113,885,000), State of CA Local Agency Investment Fund ($36,577,478) and County of San Diego Pooled Investment Fund ($39,459,109). 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.
During the quarter, two investments totaling $4.0 million were redeemed by the issuers prior to their maturity dates. Three purchases were...
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