Report to Mayor and City Council
Tuesday, February 20, 2018
Discussion
SUBJECT:
Title
CONSIDER MONTHLY INVESTMENT AND CASH REPORT FOR THE CITY OF CARSON, CARSON HOUSING AUTHORITY, CARSON SUCCESSOR AGENCY-MONTH ENDING JANUARY 2018- INVESTMENT ADVISOR PRESENTATION (CITY COUNCIL)
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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 January 2018. The investment advisor will present a power point presentation giving an Investment Program Update.
The following are the total reserve and cash amounts for each Carson entity:
City of Carson reserve funds: $33,866,377.67
City of Carson cash revenue: $ 12,608,680.05
City of Carson Successor Agency reserve funds: $14,325,775.08
City of Carson Successor Agency cash revenue: $ 823,919.64
City of Carson Successor Agency bond funds reserves: $1,979,552.48
City of Carson Housing Authority reserve funds: $554,067.34
City of Carson Housing Authority cash revenue: $ 736,701.47
City of Carson Housing Authority Bond Funds reserves $5,875,198.22
II. RECOMMENDATION
Recommendation
RECEIVE and FILE.
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III. ALTERNATIVES
TAKE another action the Council deems appropriate.
IV. BACKGROUND
The 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.
In December 2016 the city treasurer formed an investment committee which included the city treasurer, city manager, finance director and the investment advisor. The committee met on several occasions in the last year to discuss investment strategies and methods to maximize returns.
The City's average investment balance from February 2017 through January 2018 has been approximately $152 million. During that time, the increase...
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