South Coast Air Quality Management District
South Coast Air Quality Management District
BOARD MEETING DATE: June 15, 2001 AGENDA NO. 29
Investment Oversight Committee
SYNOPSIS:
The Investment Oversight Committee met Friday, May 4, 2001 and discussed various issues detailed in the Committee report. The quarterly meeting scheduled for August 3, 2001 has been cancelled. The next Investment Oversight Committee meeting is scheduled for Friday, November 2, 2001 at 12:00 noon in Conference Room CC8.
RECOMMENDED ACTION:
Receive and file this report.
Gary Burton,
Investment Oversight Committee
Attendance: Present were Committee members Gary Burton, David Ertel and Paul Sundeen. Absent were Committee members Michael Antonovich, William Burke and Norma Glover.
Investment Committee Action Items:
Quarterly Report of Investments: Reviewed the quarterly investment report to the Governing Board. For the month of February 2001, the AQMD’s weighted average yield rate on total investments of $145,080,002 from all sources was 6.30%. The allocation by investment type was 59.8% in the Los Angeles County Pooled Surplus Investment Fund (PSI); 19.7% in the State of California Local Agency Investment Fund (LAIF); and 20.5% in Federal Agency securities. The committee approved the quarterly report.
Due to a light committee agenda, the regularly scheduled meeting for August 3, 2001 has been cancelled. The quarterly report on investments will be forwarded to the Board and committee members in July. A meeting will be scheduled if any member of the Board or committee wishes to discuss the investment report or has any other business for committee consideration.
Investment Committee Discussion Items:
Cash Flow Forecast: Rick Pearce reported on the cash flows for the current year and projected for the next two years. AQMD Investment Policy limits its Special Purpose investments to 75% of the minimum amount of funds available for investment during the Cash Flow Horizon. That limit, which includes all funds (including General, MSRC, Clean Fuels and others) is approximately $101.2 million.
Other Business: None
Public Comment: None
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