ITEM:

CONSENT CALENDAR

 

4.

CONSIDER APPROVAL OF FOURTH QUARTER INVESTMENT REPORT

 

Meeting Date:

August 21, 2006

Budgeted:

N/A

 

From:

David A. Berger,

Program/

N/A

 

General Manager

Line Item No.:

 

Prepared By:

Rick Dickhaut

Cost Estimate:

N/A

 

General Counsel Approval:N/A

Committee Recommendation: The Administrative Committee considered this item on August 7, 2006 and recommended approval.

CEQA Compliance:N/A

 

SUMMARY:The Districtís investment policy requires that each quarter the Board of Directors receive and approve a report of investments held by the District.Exhibit 4-A is the report for the quarter ending June 30, 2006.District staff has determined that these investments include sufficient liquid funds to meet anticipated expenditures for the next six months.This portfolio is in compliance with the current District investment policy, the California Government Code, and the permitted investments of Monterey County.

 

During this reporting period the Wastewater Reclamation Projectís (Project) Operations and Maintenance Reserve and Renewal and Replacement Reserve accounts were transferred to the Carmel Area Wastewater District in accordance with the Projectís Amended Construction and Operations Agreement dated December 15, 2004.The Projectís Operations and Maintenance account (Bank of America) and Certificate of Participation accounts (U.S. Bank) will remain under the control of the District and will continue to be reported on future Quarterly Investment Reports. ††

 

RECOMMENDATION: The Administrative Committee considered this item at its August 7, 2006 meeting and voted 2 to 0 to recommend approval.

 

EXHIBIT

4-A††††† Investment Report as of June 30, 2006

 

 

 

 

 

 

 

 

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