REPORT TO COUNCIL
SUBJECT
Title
Action on Monthly Investment Report for June 2021
Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency
BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the June 2021 investment report is submitted for your information.
Staff is currently working on the final reconciliation of the City's finances for the fiscal year ended June 30, 2021 and will bring forward the budgetary year-end report after that analysis is completed. This year-end analysis will include the impacts associated with COVID-19 on both the City's revenue collections and expenditures.
In accordance with City Council Policy 051 - Donations to the City, included in this report is a monthly activity and annual summary of donations received by department. Although the requirement of the policy is to report quarterly, in its ongoing effort to streamline reporting, the City will include this information monthly in the financial status report.
DISCUSSION
Monthly Investment Report (Attachment 1)
All securities held by the City of Santa Clara as of June 30, 2021 were in compliance with the City's Investment Policy Statement regarding current market strategy and long-term goals and objectives. All securities held are rated "A" or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City's needs for the next six months.
The City's investment strategy for June 2021 was to invest funds not required to meet current obligations, in securities listed in the prevailing Investment Policy Statement, with maturities not to exceed five years form the date of purchase. This strategy ensures safety of the City's funds, provides liquidity to meet the City's cash needs, and earns a reasonable portfolio return of 1.33%.
Donations to the City
Donations totaled $25 in June 2021 and $92,943 for FY 2020/21.
ENVIRONMENTAL REVIEW
The action b...
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