HomeMy WebLinkAbout9,Review of Investment Policy & Delegate Authority
Action Item #9 and Delegate Authority Review Investment Policy
Review Investment Policy and 2 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:•Background / History
Review Investment Policy and 3 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 •New Information
Review Investment Policy and 4 to outline the policy and proceduresUAMPS and District are working toward an agreement –Yield is almost two times more than LAIF–Yield is about 0.5% annually–of
up to $10 million into the UPTIFSeptember 10, 2014 the Board authorized investment •New Information
Review Investment Policy and 5 New Information
New Information Delegate Authority to TreasurerReview Investment Policy and 6 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–Treasurer has reviewed the investment policy •
Fiscal Impact Delegate Authority to TreasurerReview Investment Policy and 7 There is no direct fiscal impact associated with this item•
Recommendation Delegate Authority to TreasurerReview Investment Policy and 8 invest District funds for FY15 according to the District’s , to District TreasurerDelegate authority to Robert
Mescher, •Concur with the current District investment policy•