Report to Mayor and City Council
Tuesday, July 18, 2017
Consent
SUBJECT:
Title
CONSIDER MONTHLY INVESTMENT AND CASH REPORT FOR THE CITY OF CARSON, CARSON HOUSING AUTHORITY, CARSON SUCCESSOR AGENCY PERIOID ENDING JUNE 2017 (CITY COUNCIL)
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 June 30, 2017. Following are the total reserve and cash amounts for each Carson entity:
City of Carson reserve revenue: $34,453,720.11
City of Carson cash revenue: $11,167,406.36
City of Carson Successor Agency reserve revenue: $25,794,016.34
City of Carson Successor Agency cash revenue: $2,416,109.42
City of Carson Housing Authority reserve revenue: $13,403,020.92
City of Carson Housing Authority cash revenue: $1,400,265.69
II. RECOMMENDATION
Recommendation
RECEIVE and FILE.
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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.
An additional $4 million was added to the City of Carson reserve revenue, increasing the fund balance from $30 million to $34 million.
The city’s investments portfolio is in compliance with the investment policy and the California government code section 53600. The City has the ability to meet its expenditure requirements for 6 months and beyond.
V. FISCAL IMPACT
None
VI. EXHIBITS
1. Summary of Cash (Pg. 3)
2. City of Carson Investment (Pgs.4-5 )
3. City of Carson Successor Agency Investments (Pgs. 6-7)
4. City of Carson Housing Authority Investments (Pgs. 8-9)
5. Compliance Summary (Pg. 10)
Prepared by: Monica Cooper, City Treasurer