06-18-2019 - Item 04 - Investment Report For The Month Ended April 30, 2019AGENDA ITEM NO. 4
AGENDA STAFF REPORT
City of West Covina | Office of the City Manager
DATE:June 18, 2019
TO:Mayor and City Council
FROM:David Carmany
Interim City Manager
SUBJECT:INVESTMENT REPORT FOR THE MONTH ENDED APRIL 30, 2019
RECOMMENDATION:
It is recommended that the City Council receive and file the Investment Report for the month ended
April 30, 2019.
DISCUSSION:
The Investment Report (Attachment No. 1) presents the City’s and the Successor Agency’s cash and
investments for the month ended April 30, 2019. This report is in compliance with California
Government Code Section 53646 regarding the reporting of detailed information on all securities,
investments, and monies of the City, as well as, reporting of the market value of the investments
held. All of the investments contained within the portfolio are in full compliance with Government
Code Section 53601 and the City’s Investment Policy as to the types of investments allowed. The
City’s Investment Policy was last revised and adopted by City Council on June 5, 2018. As stated in
the attached report, there are sufficient funds to meet the budgeted expenditures over the next six
months.
The City’s Investment Policy has set primary goals of the portfolio management of safety, liquidity
and yield. The City’s surplus funds are with the Los Angeles County Investment Pool (LACIP) and
Chandler Asset Management. At April 30, 2019, the investment portfolio had a market value of
$63,494,002.
Bond reserves are held and invested by a Trustee. The investment of these funds is governed by an
investment policy approved by the City Council as a part of the governing documents for each
specific bond issue. At April 30, 2019, the bond reserves had a market value of $6,833,478.
Prepared by: Todd H. Owens, Accounting Manager
Additional Approval: Robbeyn Bird, CPA, Interim Finance Director
Fiscal Impact
FISCAL IMPACT:
No fiscal impact.
Attachments
Attachment No. 1 - Investment Report
Chandler Report - April 2019