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Home My WebLink About62425 (4)STATEMENT OF COMPLIANCE January 2013 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 Policy. The City investment policy is more conservative than State law. The Palm Desert Audit, Finance, and Investment Committee, and the Paim Desert City Council review the City investment policy annually. For the month ended January 37, 2013, the City investment porlfolio was in compliance with all applicable state and local laws and regulations. The City Treasurers Office continued to pursue conservative and prudent investment strategies, based upon the stated objectives of safety, liquidity, and yield. Barring unforeseen events, the City Treasury should have suffcient cash to f nance City expenditures for the ne�A six months. In addition, portions of the City investment portfolio could be liquidated in order to meet any significant, unezpected cash requirements. Interective Data Services provided the market value pnces for secunties in the City investment portfolio. All balances are bank balances. Respectfully submitted, ✓[ll[�.5. i�CL4Z� �e./u../` . City Treasurer SUMMARY OF AUTHORIZED INVESTMENTS CA Govt Code Investment Cate o 53601 a) Palm Desert Bonds 53633 Demand Deposits 53601 b U.S. Treasuries 53601(c) CA State Debt 53601(d) CA Local Aqency Debt 53607(I) ReverseRepos 53601(j Medium-Tertn Notes 53601(k) Money Market Funds 53601(I) Trust Indenture Debt i3601(m) Secured Bank Deposi� 53601(k) Local Government �nment Code � City Investment Policy Maximum Maximum Minimum Macimum Maximum Minimum %ofCity 5 Years No Limit No Limit No Limit 5 Years No Limit 5 Years No Limit 5 Years No Limit 5 Years No Limit 180 Da s 40% 270 Da s 25% 5 Years 30% 1 Year No Limi[ 92 Days 20 % 5 Years 30% No Limit No Limit - 5 Years No Limit - � Not Authorized Not Authorized 5 Years No Limit - 180 Days 40% A-1 or P-1 - A-1/P-1 270 Da s 25°/ A-1 or P-1 5 Years 30% AA-orAa3 - 30 Days 20% - Nof Authorized A 5 Years 30% A 4.5 % 4A 8 Aaa 90 Da s � 20 % AAA 8 Aaa 22% Nof Authorized Nof Authorized 4A & Aaa AAA & Aaa r Advisor 90 Days 50% (i) or Advisor 47.1 % ;Issuer) & Not Authorized (Securiry) No Limit $SOMM/Acct 39.1% (2) 93.0% Footnotes: (1) Maximum concentration limit for local agency investment pools, excluding bond proceeds. (2) Total does not indude the CiN Loan to RDA, and cash.