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ACTION ITEM #12TreasurerDelegation of Authority to the Policy and Consideration of the Review of the District’s Investment TreasurerDelegation of Authority to the Policy and Consideration
of the Review of the District’s Investment December 6, 2017
Investment Policy and Delegation of Authority to Treasurer in the District’s Investment Policydelegate authority to the Treasurer to perform the duties as described Only the Board can
modify the District’s Investment Policy and •BACKGROUND / HISTORY Investment Policy and Delegation of Authority to Treasurer
Investment Policy and Delegation of Authority to Treasurer Financial and economic trends •Custodial risk •Diversification of investments •Investment objectives •Compliance with current
guidance and regulations •Annual review of the investment policy •Quarterly report of investment funds, yields, and terms•Monthly report of cash and investment balances •District Code
requires: •Investment Policy•BACKGROUND / HISTORY Investment Policy and Delegation of Authority to Treasurer
Investment Policy and Delegation of Authority to Treasurer and UPTIFThe Board has authorized investment up to $10 million in LAIF, PCTIP, •Temporary investments in money market funds•Utah
Public Treasurers Investment Fund (UPTIF)•Placer County Treasurer’s Investment Portfolio (PCTIP)•California’s Local Agency Investment Fund (LAIF)•US Bank interest bearing checking accounts•diversifi
cation and custodial risk•BACKGROUND / HISTORY Investment Policy and Delegation of Authority to Treasurer
NEW INFORMATION Investment Policy and Delegation of Authority to TreasurerInvestment Policy and Delegation of Authority to Treasurer
NEW INFORMATION No revision to the investment policy is proposed •Appropriate for financial and economic trends•Acceptable level of custodial risk •Funds are diversified •Consistent
with District Code•Compliant with current guidance and regulations•Treasurer has reviewed the investment policy•Investment Policy and Delegation of Authority to TreasurerInvestment
Policy and Delegation of Authority to Treasurer
FISCAL IMPACT certain investments, as the policy allowsThe fiscal impact of this item varies on the rate of return through •Investment Policy and Delegation of Authority to TreasurerInvestment
Policy and Delegation of Authority to Treasurer
RECOMMENDATION funds for FY18 according to the District’s investment policy2) Delegate authority to Regina Wise, District Treasurer, to invest District 1) Find that no revision is required
to the current investment policy Investment Policy and Delegation of Authority to TreasurerInvestment Policy and Delegation of Authority to Treasurer