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File #: 2019-674    Version: 1 Name:
Type: Non-Consent Status: Passed
File created: 10/9/2019 In control: ADMINISTRATION COMMITTEE
On agenda: 12/11/2019 Final action: 12/11/2019
Title: INVEST AND/OR REINVEST ORANGE COUNTY SANITATION DISTRICT'S FUNDS AND ADOPT INVESTMENT POLICY STATEMENT
Sponsors: Lorenzo Tyner
Attachments: 1. Agenda Report, 2. OCSD Calendar Year 2020 Investment Policy Statement (Clean), 3. OCSD Calendar Year 2019 Investment Policy Statement (Redline), 4. Proposed Resolution No. OCSD 19-XX
Related files: 2019-849
FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager

SUBJECT:

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INVEST AND/OR REINVEST ORANGE COUNTY SANITATION DISTRICT'S FUNDS AND ADOPT INVESTMENT POLICY STATEMENT
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GENERAL MANAGER'S RECOMMENDATION
recommendation

RECOMMENDATION: Recommend to the Board of Directors to:

Adopt Resolution No. OCSD 19-XX, entitled: "A Resolution of the Board of Directors of the Orange County Sanitation District, Authorizing the Orange County Sanitation District's Treasurer to Invest and/or Reinvest Orange County Sanitation District's Funds, Adopting the Orange County Sanitation District's Investment Policy Statement and Performance Benchmarks, and Repealing Resolution No. OCSD 18-23.
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BACKGROUND

There were no significant changes on the Investment Policy Statement or the Local Agency Investment Guidelines based on the California Government Code investment statutes over the past year. This agenda item presents an update to the Orange County Sanitation District's (Sanitation District) Investment Policy Statement to the Administration Committee for consideration in the Committee's capacity as the oversight committee for the Investment Policy (Section 18.2). With adoption of the Resolution, the Board of Directors would readopt the Sanitation District's current Investment Policy Statement, portfolio performance benchmarks, and monitoring and reporting requirements for calendar year 2020.

The Sanitation District's Investment Policy Statement was previously approved by the Administration Committee and the Board of Directors for calendar year 2019 in December 2018.

RELEVANT STANDARDS

* Comply with OCSD Policy - Orange County Sanitation District Investment Policy
* California Government Code Sections 53607 and 53646

PROBLEM

California Government Code Section 53607 allows for the Board of Directors to delegate authority to invest and/or reinvest the Sanitation District's funds to the Treasurer for a one-year period. ...

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