HomeMy WebLinkAbout63191 (4)STATEMENT OF COMPLIANCE
February 2073
The investment of the City of Palm Desert securities portfolio is governed by California Government Code Section 53601 and by the Palm
Desert Statement of Investment Poiicy. The City investment policy is more conservative than State law. The Palm Desert Audit, Finance, and
Investment Committee, and the Palm Desert City Council review the Ciry investment policy annually.
For the month ended February 28, 2013, the City imestment portfolio was in compliance with all applicable state and local laws and
regulations The City Treasurer's Offce continued to pursue conservative and prudent invesiment strategies, based upon the stated objectives
of safety, liquidity, and yield. Barring unforeseen events, the City Treasury should have suffcient cash to fnance City ezpenditures for the next
six months. In addition, portions of the City investment portfolio could be liquidated in order to meet any significant, unexpected cash
requirements.
Interactive Data Services provided the market value prices for securities in the City investment portfolio. All balances are bank balances.
Respectfully submitted,
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City Treasurer