The Investment Report presents the City's cash and investments for the month ended September 30, 2018. 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 Fiscal Year 2018-19 Investment Policy was last revised and adopted by the City Council on May 8, 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 currently utilizes Chandler Asset Management who uses an active investment management approach in which securities are purchased but not necessarily held to maturity, and may be actively traded based on market conditions and the City's investment goals. The City's cash flow requirements are evaluated on an ongoing basis with short-term needs accommodated through the City's pooled investment funds with the Los Angeles County Investment Pool (LACIP) and the State of California Local Agency Investment Fund (LAIF). On September 30, 2018, the City's investment portfolio had a market value of $220,925,873.