HomeMy WebLinkAbout13, Review of Investment Policy & Delegate Authority
Action Item #13 December 9, 2015 to the Treasurerand Delegate Authority Review Investment Policy
Review Investment Policy and 2 istrictDMescher that he was leaving the July 15, 2015 upon notification from former Treasurer Robert , Tricia Phillips since Interim TreasurerThe District
has had an •described in the District’s Investment Policydelegate authority to the Treasurer to perform the duties as Only the Board can modify the District’s Investment Policy and
•TreasurerBackground / History
Review Investment Policy and 3 Financial and economic trends•Custodial risk•Diversification of investments•Investment objectives•Compliance with current guidance and regulations•Annual
review of investment policy –Quarterly report of investment funds, yields, and terms–Monthly report of cash and investment balances–District Code requires:•Investment PolicyBackground
/ History
Review Investment Policy and 4 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–of diversification and custodial riskCurrent investments meet the objectives and requirements •Background
/ History
Review Investment Policy and 5 of up to $10 million into the UPTIFSeptember 10, 2014 the Board authorized investment •million into the PCTIPMay 1, 2013 the Board authorized investment
of up to $10 •Background / History
Review Investment Policy and 6 New Information
New Information Delegate Authority to TreasurerReview Investment Policy and 7 No revision to the investment policy is proposed•Appropriate for financial and economic trends–Acceptable
with custodial risk–Diversified with investments–Consistent with District objectives–Compliant with current guidance and regulations–Interim Treasurer has reviewed the investment policy
•
New Information Delegate Authority to TreasurerReview Investment Policy and 8 that the District expectsContinues to provide depth in accounting and finance –Manager position and the
District TreasurerFinance and Accounting Staff recommends aligning the •
Fiscal Impact Delegate Authority to TreasurerReview Investment Policy and 9 There is no direct fiscal impact associated with this item•
Recommendation Delegate Authority to TreasurerReview Investment Policy and 10 invest District funds for FY16 according to the District’s , to District TreasurerDelegate authority to
Regina Wise, •Concur with the current District investment policy•