Report to Mayor and City Council
Tuesday, April 18, 2017
Consent
SUBJECT:
Title
CONSIDER MONTHLY INVESTMENT AND CASH REPORT FOR THE CITY OF CARSON, CARSON HOUSING AUTHORITY, CARSON SUCCESSOR AGENCY
Body
I. SUMMARY
Submitted for Council’s review is the monthly Investment and Cash Report for the City of Carson, Successor Agency and Carson Housing Authority for the month ending March 31, 2017.
Total revenue including cash and investments as of March 31, 2017: $77,641,404.80
II. RECOMMENDATION
Recommendation
RECEIVE and FILE.
Body
III. ALTERNATIVES
TAKE another action the Council deems appropriate.
IV. BACKGROUND
The monthly Investment and cash Report is submitted to the City Council to ensure that the legislative body is kept abreast of the value of the reserve funds and available cash. The report covers the reserve funds for the City of Carson, Successor Agency and the Housing Authority. The investment and cash reports are being provided to promote accountability and transparency.
In the month of March 2017, Housing Authority reserve funds in the amount of $7million were used to purchase land for the Veterans Affordable housing development project. Additionally, Successor Agency reserve funds in the amount of $4.5 million were used to pay debt service and other obligations.
The investment portfolio is in compliance with the investment policy and State of California government code.
The city is in compliance with the requirement of being able to meet its expenditure obligations for 6 months.
V. FISCAL IMPACT
None
VI. EXHIBITS
1. Summary of Cash (Pg. 3)
2. Investment Portfolio (Pgs.4-9 )
3. Portfolio Compliance Summary (Pg. 10)
Prepared by: Monica Cooper, City Treasurer