AGENDA NO. 17
Proposal:
Annual Statement of Investment Policy and
Quarterly Report of Investments
Synopsis:
State law effective January 1, 1996 requires local government entities to provide an Annual Statement of Investment Policy and to report quarterly regarding their investments. This is the first Annual Statement of Investment Policy and the Quarterly Report of Investments for 1996 First Quarter.
Committee:
Administrative, April 19, 1996, Recommended for Approval
Recommended Action:
Receive and file these reports.
James M. Lents, Ph.D.
Executive Officer
PHP
Background
Government Code Section 53646 effective January 1, 1996 requires that the treasurer or chief fiscal officer of a local government agency submit to the agency's executive officer and Governing Board an annual statement of investment policy and a quarterly report of investments. For investments placed in the State's Local Agency Investment Fund (LAIF), in federally insured bank or savings and loan accounts, in a county investment pool (PSIP), or any combination of these, the most recent statement received from these institutions is required to be submitted.
Report
Attached are the most recent reports received from the County of Los Angeles regarding their investment policy, quarterly investments and AQMD's investment activities. As of March 1996, AQMD funds were invested as follows by the County of Los Angeles: in the PSIP, General Fund, $33.7 million; in the PSIP, Trust and Special Revenues, $36.8 million; in the LAIF, General Fund, $14.8 million, and in the LAIF, Trust and Special Revenues $4.8 million.
Attachment (Down Load self-extracting compressed attachment package for this letter in M.S. Office 4.2.)