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wx < <br />'.411 <br />COUNCIL AGENDA REPORT <br />!ps GAMS <br />DATE: AUGUST 5, 2010 <br />TO: MAYOR AND TOWN COUNCIL <br />FROM: GREG CARSON, TOWN MANAGER <br />MEETING DATE: 08/16/10 <br />ITEM NO. , <br />U ~,~Co l~ o~i <br />SUBJECT: INV ESTMENT REPORTS FOR FOURTH FISCAL QUARTER 09/10 (APRIL <br />THROUGH JUNE 2010) <br />RECOMMENDATION: <br />Accept reports as attached. <br />DISCUSSION: <br />Attached for your review and acceptance are the Investment reports for the fourth quarter of the <br />current fiscal year 09/10. <br />In looking back at the last year, the Town's portfolio returns have dropped from an average of 2.5% <br />to 1.92%. The decline is mostly due to investments maturing and being reinvested at lower rates. <br />This rate of return is still significantly higher than LAIF (.53 %) and the decline in returns is less than <br />the decline for LAIF for the same period (.58% decline for Town vs..85% for LAIF). <br />The Prime Rate has been at 3.25% since December 2008. It does not appear that rates will increase <br />in the foreseeable future. <br />ENVIRONMENTAL ASSESSMENT: <br />Is not a project defined under CEQA, and no further action is required. <br />FISCAL IMPACT: None <br />Attachments: Investrnent reports for the fourth fiscal quarter (April through June 2010). <br />PREPARED BY: S E ONWAY <br />Financ Administrative Services Director/ Town Treasurer <br />Reviewed by: -Town Manager 5 Assistant Town Manager own Attorney <br />_ClerkinanceCommunity Developmen Revised: 8/6/10 9:31 am <br />Reformatted: 5/30/02 <br />