BOARD MEETING DATE: March 6, 2009
AGENDA NO. 23

REPORT:

Investment Oversight Committee

SYNOPSIS:

The Investment Oversight Committee met Friday, February 20, 2009 and discussed various issues detailed in the Committee report. The next Investment Oversight Committee meeting is scheduled for Friday, May 22, 2009 at 12:00 noon in the Executive Conference Room.

RECOMMENDED ACTIONS:

Receive and file this report.
 

Bill Campbell, Vice Chair
Investment Oversight Committee

Attendance: Present at AQMD were Committee Members Gary Burton, David E. Ertel, and Paul Sundeen while Committee Members Bill Campbell and Michael A. Cacciotti attended by teleconference. Absent was Committee Member Michael Antonovich.

Investment Committee Action Items:

Quarterly Report of Investments: Reviewed the quarterly investment report to the Governing Board. For the month of December 2008, the AQMD’s weighted average yield on total investments of $412,379,978, from all sources, was 2.52%. The allocation by investment type was 90.4% in the Los Angeles County Pooled Surplus Investment Fund (PSI) and 9.6% in the State of California Local Agency Investment Fund (LAIF). The Committee approved the quarterly report.

Approval of Annual Investment Policy and Delegation of Authority to Appointed Treasurer to Invest AQMD Funds: The Committee reviewed the Annual Investment Policy, which had no recommended changes for 2009, and AQMD renewal of its delegation of authority to its treasurer. The AQMD Annual Investment Policy and the reauthorization of the Los Angeles County Treasurer to invest and reinvest AQMD funds were recommended for approval at the March 6, 2009 meeting of the Governing Board.

Investment Committee Discussion Items: None

Other Business: None

Public Comment: None