Title
Consider a resolution accepting the City's Quarterly Financial and Investment Report for the quarter ended September 30, 2018.
Body
The attached report provides a summary of the City’s investments and financial highlights for the quarter ending September 30, 2018. The financial summary has two components. The first page provides quarterly revenue and economic highlights. The second page is a summary of annual budget and city financial facts. The second report is the City’s quarterly investment report. Investing and reporting are governed by the City’s investment policy and General Government Code Chapter 2256 - referred to as the Public Funds Investment Act (PFIA). This quarterly report is prepared by the City’s investment advisor, Valley View Consulting, LLC in close coordination with City staff. Section 2256.023 of the PFIA states that a written report of investments be submitted to the government body at least quarterly. The report meets those requirements and is available on the City’s website. The investment activity during the quarter was in compliance with the City’s investment policy and the PFIA.
Staff will also make a presentation on these reports at the meeting.