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ACTION ITEM #14TreasurerDelegation 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 7, 2016
Investment Policy and Delegation of Authority to Treasurer throughout FY16successfully performed the responsibilities of District Treasurer The District’s Finance and Accounting Manager,
Regina Wise, has •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(thousands of dollars)Quarterly Interest Earned UPTIF Investment AddedPlacer County Investement Added LAIF, PC & UPTIF Actual Earnings LAIF Projected Earnings Quarterly
Interest Earned 3Q 162Q 161Q 164Q 153Q 152Q 151Q 154Q 143Q 142Q 141Q 144Q 133Q 132Q 131Q 134Q 123Q 12 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 $-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•Staff has reviewed the investment policy•Investment Policy and Delegation of Authority to TreasurerInvestment Policy
and Delegation of Authority to Treasurer
FISCAL IMPACT There is no direct fiscal impact associated with this item•Investment Policy and Delegation of Authority to TreasurerInvestment Policy and Delegation of Authority to Treasurer
RECOMMENDATION funds for FY17 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