HomeMy WebLinkAbout14, Increase Investment in Placer Count Treasurer's Investment Portfolio
Action Item # 14 January 15, 2014 Investment PoolPlacer County Treasurer’s Increased Investment in the Consideration of Authorizing
Increased Investment in Placer 2 LAIF investment yield declined from 5.2% in 2007 to 0.3%•California Treasurer’s Local Agency Investment Fund (LAIF)Majority of General Fund and reserves
invested in •Consistent with California Government Code•District adopted investment policy in 2006•Background / History County Treasurer’s Investment Pool
Background / History County Treasurer’s Investment PoolIncreased Investment in Placer 3 back this item for further discussionOn December 4, 2013 the Board requested staff to bring •investment
up to $10 million into PCTIPAt the May 1, 2013 Board Meeting, the Board authorized •Government Code and with District CodePCTIP investments are consistent with California •PCTIP investment
risk is similar to LAIF•District service area includes a portion of Placer CountyDistrict is eligible to participate in PCTIP because the •Placer County Treasurer has an investment
pool (PCTIP)•
New Information County Treasurer’s Investment PoolIncreased Investment in Placer 4 13% Other ~ 0.3%–24% Commercial paper ~ 1.4%–9% Placer County ~ 4.3%––63% Agencies ~ 1.4%–PCTIP investment
yield for past 5 months is more than 1.2%•13% Other ~ 1.0%–15% Loans to California’s general fund ~ 0.3%–18% Bank certificates of deposits and time deposits ~ 0.2%–54% US Treasuries
~ 0.2%–LAIF investment yield for past 5 months is less than 0.3%•
5 County Treasurer’s Investment PoolIncreased Investment in Placer
6 County Treasurer’s Investment PoolIncreased Investment in Placer
Fiscal Impact County Treasurer’s Investment PoolIncreased Investment in Placer 7 Staff is not recommending a change at this time•diversity and safetyThe District’s current investment
allocation provides •PCTIP $9+ million; $110,000 annual yield–LAIF $13 million; $40,000 annual yield–District has $22 million available to invest•
Recommendation County Treasurer’s Investment PoolIncreased Investment in Placer 8 Review this report and provide direction to staff•