South Coast Air Quality Management District

Investment Oversight Committee

SYNOPSIS: 

The Investment Oversight Committee met Friday, November 2, 2001 and discussed various issues detailed in the Committee report. The next Investment Oversight Committee meeting is scheduled for Friday, February 1, 2002 at 12:00 noon in Conference Room CC8.

RECOMMENDED ACTION:

Receive and file this report.

Michael D. Antonovich,
Investment Oversight Committee

Attendance: Present were Committee members Michael Antonovich, Gary Burton, David E. Ertel. Absent were Committee members William A. Burke, Norma J. Glover, Paul Sundeen.

Investment Committee Action Items:

Quarterly Report of Investments: Reviewed the quarterly investment report to the Governing Board. For the month of August 2001, the AQMD’s weighted average yield rate on total investments of $209,873,145 from all sources was 4.79%. The allocation by investment type was 71.8% in the Los Angeles County Pooled Surplus Investment Fund (PSI); 14.0% in the State of California Local Agency 'Investment Fund (LAIF); and 14.2% in Federal Agency securities. The committee approved the quarterly report.

Execute Contract for Investment Consultant Services: The Committee approved the selection of Sperry Capital Inc. for investment consultant services at a total cost of $40,983 for a three-year period ending in 2004.

Other Business: None

Public Comment: None

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