Title
Consider a resolution accepting the City's Quarterly Investment Report for the quarter ended September 30, 2015.
Body
The attached report provides a summary of the City’s investments for the quarter ending September 30, 2015. The investing and reporting is governed by the City’s investment policy and the General Government Code Chapter 2256 - referred to as the Public Funds Investment Act (PFIA).
Section 2256.023 of the PFIA states that a written report of investments be submitted to the governing body at least quarterly. This report meets those requirements and is also available on the City’s web site.
The investment activity during the quarter was in compliance with the City’s investment policy and the PFIA.
In September 2015, the City Council approved an investment advisory contract with a new consulting firm, Valley View Consulting, L.L.C. that went into effect beginning October 1, 2015. This report is the final report from the City’s prior consultant.
Recommended Action
Staff Recommends Approval