For City Council Meeting [January 8, 2019]
TO: Honorable Mayor and City Council
APPROVAL: Ahmad Ansari, Interim City Administrator
Sean Grayson, Interim City Administrator
FROM: Edward Carrillo, City Treasurer
Title
Request City Council to Receive and File the October 2018 Treasurer's Report.
Body
BACKGROUND:
Per California Government Code Section 53646(b), the City's Treasurer or Fiscal Officer shall render a treasurer's report to the City Council on a quarterly basis. This report shall include the type of investment, issuer, date of maturity, par and dollar amount invested on all securities, agency, and shall additionally include a description of any of the local agency's funds, investments, or programs, that are under the management of contracted parties, including lending programs. The report shall state compliance to the City's statement investment policy and shall include a statement noting the City's ability to meet its expenditure requirements for the next six months.
ANALYSIS/DISCUSSION:
The City of Rialto's Investments and funds management is in compliance with the City's Investment Policy and State Mandates. Pooled Investments have liquidity below 30 days, and therefore carry Market Value at Issued Value. Wells Fargo Advisors and Union Bank of California provided the Market Value of the investments held in custody. Union Bank (Corporate Trust Dept.) and US bank (Corporate Trust Dept.) provide Fiscal Agent information.
ENVIRONMENTAL IMPACT:
This report is not a "Project" as defined by the California Environmental Quality Act (CEQA). Pursuant to Section 15378(a), a "Project" means the whole of an action, which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. According to Section 15378(b), a Project does not include: (5) Organizational or administrative activities of governments that will not result in direct or indirect physi...
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