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File #: 20-2497    Version: 1 Name: Quarterly Investment Report
Type: Informational Report Status: Consent Agenda
File created: 3/10/2020 In control: Town Council
On agenda: 5/19/2020 Final action:
Title: Receive and file Quarterly Investment Report for March 2020.
Attachments: 1. Quarterly Investment Report
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Yountville Town Council Staff Report

DATE: May 19, 2020

TO: Mayor and Town Council

FROM: Sheila McCrory, Project Advisor; Celia King, Finance Director

Receive and file Quarterly Investment Report for March 2020.

This report represents the Town's investment portfolio for the quarter ending March 31, 2020. The report includes all Town funds. All investments are in compliance with the Town's adopted Investment Policy.

The Town's investments are guided by an Investment Policy, which is reviewed and approved by the Council annually. The Investment Policy was last approved by the Town Council on June 17, 2019. The policy directs that investment goals, in order by priority, are safety, liquidity, and yield. This conservative approach ensures assets are available for use while also allowing the Town to earn additional resources on idle funds. The Town currently participates in the State investment pool known as the Local Agency Investment Fund (LAIF).

LAIF began in 1977 as an investment alternative for California's local governments and special districts and is administered by the State of California's Treasurer. The enabling legislation for LAIF is Section 16429.1 et seq. of the California Government Code.

This program offers local agencies the opportunity to participate in a major portfolio, which invests hundreds of millions of dollars, using the investment expertise of the Treasurer's Office investment staff at no additional cost to local agencies or taxpayers. LAIF is part of the Pooled Money Investment Account (PMIA). The PMIA began in 1955 and oversight is provided by the Pooled Money Investment Board (PMIB) and an in-house Investment Committee. The PMIB members are the State Treasurer, State Director of Finance, and State Controller.

The Town established a Section 115 Trust for Other Post Employment Benefits and Pension Rate Stabilization with Public Agency Retirement Services (PARS). Town Council adopted a m...

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