VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE Committee Members Supervisor John C. Zaragoza District 5, Committee Chair Judge Steven Hintz Treasurer-Tax Collector Jeffery S. Burgh Auditor-Controller Ms. Misty Key Associate Superintendent County Superintendent of Schools Ms. Lori Mahoney Investment Advisor AGENDA VENTURA COUNTY GOVERNMENT CENTER HALL OF ADMINISTRATION MAIN PLAZA-ATLANTIC CONFERENCE ROOM 800 South Victoria Avenue Ventura, California 93009 April 24, 2019 1:00 P.M. In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact Patricia Kipp Holland at (805) 654-3728. Reasonable advance notification of the need for accommodation prior to the meeting (48 hours advance notice is preferable) will enable us to make reasonable arrangements to ensure accessibility to this meeting. The following information is provided to help you understand, follow, and participate in the Committee meeting: Pursuant to California Government Code Section 54953 (a) et seq. time is set aside for citizen presentations regarding Committee related issues. Those wishing to speak must fill out a speaker card and submit it to any staff members in attendance. Speaker cards for issues not on the agenda must be submitted to the committee staff prior to the beginning of the public comment period. For agendized item, speaker cards must also be submitted before the item is taken up for consideration. Members of the public making oral presentations to the Committee in connection with one or more agenda or non-agenda items at a single meeting are limited to a cumulative total of time not to exceed five (5) minutes for all of their oral presentations at such meeting unless otherwise provided. NOTE: The Committee Chair may limit the number or duration of speakers on a matter. Agenda material is available at https://www.ventura.org/ttc/treasury-oversight-committee/
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AGENDA - Ventura County, California · 2019-04-15 · INFORMATIONAL AGENDA AGENDA ITEM 6 Receive and File the August 31, 2018 Investment Report Presentation, approved by the Ventura
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VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Committee Members Supervisor John C. Zaragoza
District 5, Committee Chair Judge Steven Hintz
Treasurer-Tax Collector Jeffery S. Burgh Auditor-Controller
Ms. Misty Key Associate Superintendent
County Superintendent of Schools Ms. Lori Mahoney
Investment Advisor
AGENDA
VENTURA COUNTY GOVERNMENT CENTER HALL OF ADMINISTRATION
MAIN PLAZA-ATLANTIC CONFERENCE ROOM 800 South Victoria Avenue Ventura, California 93009
April 24, 2019
1:00 P.M.
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact Patricia Kipp Holland at (805) 654-3728. Reasonable advance notification of the need for accommodation prior to the meeting (48 hours advance notice is preferable) will enable us to make reasonable arrangements to ensure accessibility to this meeting.
The following information is provided to help you understand, follow, and participate in the Committee meeting:
Pursuant to California Government Code Section 54953 (a) et seq. time is set aside for citizen presentations regarding Committee related issues. Those wishing to speak must fill out a speaker card and submit it to any staff members in attendance. Speaker cards for issues not on the agenda must be submitted to the committee staff prior to the beginning of the public comment period. For agendized item, speaker cards must also be submitted before the item is taken up for consideration.
Members of the public making oral presentations to the Committee in connection with one or more agenda or non-agenda items at a single meeting are limited to a cumulative total of time not to exceed five (5) minutes for all of their oral presentations at such meeting unless otherwise provided. NOTE: The Committee Chair may limit the number or duration of speakers on a matter. Agenda material is available at https://www.ventura.org/ttc/treasury-oversight-committee/
1. Call to Order. 2. Roll Call. 3. Agenda Review – Consider and approve by majority vote minor revisions and/or
ratify inclusion of new items. 4. Approval of Meeting Minutes for November 7, 2018. 5. Committee Members’ and Staff Comments.
6. Receive and File the Standard & Poor’s RatingsDirect letter affirming the Ventura
County Treasury Portfolio AAAf/S-1+ rating, dated January 16, 2019.
7. Review, Discuss, Receive and File New Brokers List. 8. Receive and File the Brown Armstrong Audit Report dated December 7, 2018. 9. Receive and File the February 28, 2019 Investment Report Presentation, approved
by the Ventura County Board of Supervisors on April 9, 2019. 10. Receive and File a Report of the Authorized Issuers List, dated April 1, 2019.
11. Approve the Recommendation of the Delegation of Authority to Invest from July
1, 2019 through July 1, 2020.
12. Public Comment - Time set aside for public comments regarding matters not appearing on the regular agenda. (Five minutes total per person).
13. Adjournment/Next Scheduled Meeting: Wednesday, November 6, 2019 at 1:00 P.M. Hall of Administration, Atlantic Conference Room, Ventura, CA 93009.
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Date: April 24, 2019 Agenda Item 4 - Approval of Meeting Minutes for November 7, 2018 Recommendation Review and approve the meeting minutes for November 7, 2018. (Exhibit 4.1)
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
November 7, 2018
Ventura County Government Center Hall of Administration, Atlantic Conference Room
800 South Victoria Avenue Ventura, CA 93009
MINUTES
COMMITTEE MEMBERS Supervisor John Zaragoza ....................................................... Chair, Board of Supervisors Judge Steven Hintz ......................................................................... Treasurer-Tax Collector Jeffery S. Burgh ..................................................................................... Auditor-Controller Ms. Misty Key ............................................................................. Associate Superintendent Ms. Lori Mahoney .................................................................................. Investment Advisor
STAFF Sue Horgan .................................................................... Assistant Treasurer-Tax Collector Connie Mah ........................................................ Treasury Management Division Manager Patricia Kipp Holland……………………... Management Assistant to Treasurer-Tax Collector
GUEST(S) Kaye Mand………………………………………………………………………….. Deputy Executive Officer Tracy Gallaher……………………………………………………………………… Administrative Assistant Stephen Rogers……………………………………………………………….....….. Accounting Assistant II
OPENING (Items 1-5)
CALL TO ORDER & ROLL CALL At 1:03 P.M., Chair John Zaragoza called the meeting of the Ventura County Treasury Oversight Committee (“TOC”) to order. Roll is called.
AGENDA REVIEW & APPROVAL OF MEETING MINUTES FOR APRIL 18, 2018 There were no additions or revisions of the Agenda.
Motion: Approve the Meeting Minutes for APRIL 18, 2018Moved by Ms. Misty Key, seconded by Ms. Lori Mahoney Vote: Motion carried 5-0
COMMITTEE MEMBERS’ AND STAFF COMMENTS
Supervisor John Zaragoza welcomed all in attendance and each participant introduced him/herself. Judge Hintz introduced Treasurer-Tax Collector staff.
Exhibit 4.1
Ventura County Treasury Oversight Committee Minutes November 7, 2018 Page | 2
INFORMATIONAL AGENDA
AGENDA ITEM 6 Receive and File the August 31, 2018 Investment Report Presentation, approved by the Ventura County Board of Supervisors on October 9, 2018.
The Committee received and filed the October 9, 2018 Board of Supervisor’s Investment Presentation and August 2018 Monthly Investment Report as presented.
Motion: Approve the Receive and File of the August 31, 2018 Investment Report Presentation, approved by the Ventura County Board of Supervisors on October 9, 2018. Moved by Ms. Lori Mahoney, seconded by Mr. Jeff Burgh Vote: Motion carried 5-0
REGULAR AGENDA
AGENDA ITEM 7 Receive and File a Report of the Authorized Issuers List, dated October 1, 2018.
The Committee received and filed the Authorized Issuers List, dated October 1, 2018.
Motion: Approve the Receive and File of the Authorized Issuers List, dated October 1, 2018. Moved by Ms. Misty Key, seconded by Mr. Jeff Burgh Vote: Motion carried 5-0
AGENDA ITEM 8 Review and Discuss the Proposed Modifications to the Statement of Investment Policy. Recommend to the Ventura County Board of Supervisors the Approval of these Statement of Investment Policy changes, scheduled for the December 4th, 2018 Board of Supervisors’ Meeting.
Judge Hintz reviewed the proposed modifications:
• Most of the changes are ministerial and/or corrections and clarifications
• The significant policy changes include:o Expanding the allowable municipal investments to include registered securities
issued by any of the other 49 states. (Registered securities issued by the Stateof California and local California government agencies have always beenallowed.)
o Restricting investments in municipal notes, bonds and other obligations to 30percent of the investment portfolio at the time of purchase.
The Committee reviewed and discussed the recommended revisions to the Statement of Investment Policy, scheduled for the December 4th, 2018 Board of Supervisors’ Meeting, 10:30am Time Certain.
Motion: Approve the Proposed Modifications to the Statement of Investment Policy Moved by Ms. Lori Mahoney, seconded by Mr. Jeff Burgh Vote: Motion carried 5-0
Exhibit 4.1
Ventura County Treasury Oversight Committee Minutes November 7, 2018 Page | 3
AGENDA ITEM 9 Receive and File the June 30, 2018 Receipts and Disbursements Report.
The Committee received and filed the June 30, 2018 Receipts and Disbursements Report.
Motion: Approve the Receive and File of the June 30, 2018 Receipts and Disbursements Report. Moved by Ms. Misty Key, seconded by Mr. Jeff Burgh Vote: Motion carried 5-0
AGENDA ITEM 10 Receive and File a Board Letter of Certified Fixed Income Practitioner “CFIP” Designations to the Investment Work Group Team.
The Committee received and filed the Board Letter of Certified Fixed Income Practitioner “CFIP” Designations to the Investment Work Group Team, presented before the Board of Supervisors on October 30, 2018.
Judge Hintz reviewed his staff’s accomplishment in obtaining the CFIP, their dedication to professional development and the department’s focus on succession planning.
AGENDA ITEM 11 Public Comment. The Committee had no questions to address.
AGENDA ITEM 12 Adjournment With no further items to discuss, the meeting was adjourned at 1:38 P.M.
Next Treasury Oversight Committee Meeting The next meeting is scheduled for Wednesday, April 24, 2019 at 1:00 P.M., in the Hall of Administration, Atlantic Conference Room, Ventura, CA 93009.
AGENDA ITEM 13 Treasurer-Tax Collector’s Office Tour of the “Investment Command Center” (ICC).
The Treasury Oversight Committee was provided a tour of the “Investment Command Center” (ICC) at the Treasurer-Tax Collector’s Office. Treasury Accounting Technician, John Powers, provided a demonstration of the Bloomberg terminal/financial software. The Investment Advisor, Lori Mahoney complimented the staff on the improved knowledge, financial expertise/skill and technological advancements she has seen over the years, while on the Treasury Oversight Committee Board.
Exhibit 4.1
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Date: April 24, 2019 Agenda Item 6 – Receive and File the Standard & Poor’s RatingsDirect letter affirming the Ventura County Treasury Portfolio AAAf/S-1+ rating, dated January 16, 2019. Recommendation Receive and File the Standard & Poor’s RatingsDirect letter affirming the Ventura County Treasury Portfolio AAAf/S-1+ rating, dated January 16, 2019. (Exhibit 6.1)
Page 1 of 2
55 Water Street
New York, NY 10041
212 438 2000 Tel
212 438 5075 Fax
January 16, 2019
Ventura County
800 South Victoria Avenue
Ventura, VA 93009-1290
Attention: Mr. Hintz - Treasurer-Tax Collector.
Re: Ventura County
Ventura County Treasury Pool
Dear Mr. Hintz:
S&P Global Ratings hereby affirms the “AAAf” fund credit quality rating and “S1+” fund
volatility rating for the above-referenced fund.
This letter constitutes S&P Global Ratings’ permission for you to disseminate the above-
assigned ratings to interested parties in accordance with applicable laws and regulations.
However, permission for such dissemination (other than to professional advisors bound by
appropriate confidentiality arrangements or to allow the Issuer to comply with its regulatory
obligations) will become effective only after we’ve released the rating on
standardandpoors.com. Any dissemination on any Website by you or your agents shall
include the full analysis for the rating, including any updates, where applicable. To the extent
that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating
issued in another jurisdiction for certain regulatory purposes, S&P Global Ratings may choose
to acknowledge such a rating and denote such acknowledgement on
www.standardandpoors.com with an alphabetic or other identifier affixed to such rating or by
other means.
To maintain the rating, S&P Global Ratings must receive all information as indicated in the
applicable Terms and Conditions. You understand that S&P Global Ratings relies on you and
your agents and advisors for the accuracy, timeliness and completeness of the information
submitted in connection with the rating and the continued flow of material information as part
of the surveillance process. Please send all information via electronic delivery to:
[email protected]. If SEC rule 17g-5 is applicable, you may post such
information on the appropriate website. For any information not available in electronic format
or posted on the applicable website, please send hard copies to: S&P Global Ratings,
55 Water Street, New York, New York 10041-0003, Attention: Funds Surveillance Group.
Date: April 24, 2019 Agenda Item 8 – Receive and File the Brown Armstrong Independent Auditor’s Report, dated December 7, 2018. Recommendation Government Code (GC) Section (§) 27134 requires an annual compliance audit regarding the investment pool portfolio and the County Treasurer-Tax Collector’s investment policy. Receive and File the Brown Armstrong Independent Auditor’s Report (Exhibit 8.1), dated December 7, 2018.
REGI EREI:)wioh ,h.. P\ll;>lk omp""t\ (J.,iunllog \,t'r~lghfB('hJrd ;:antiM ~BER01 Ihl' merle4n In lillJtc or
Cqlllfi"d Pilllli" tCelllnl,lIm
BROWN ARMSTRONGCertified Public Accountants
INDEPENDENTAUDITOR'S REPORT
To the Ventura CountyTreasury Oversight CommitteeVentura, California
Report on Compliance
We have audited management's assertion, included in its representation letter datedDecember 7, 2018, that the County of Ventura Treasurer-Tax Collector (the CountyTIC) complied with the provisions of the California Government Code and the CountyTIC's Investment Policy during the year ended June 30,2018.
Management's Responsibility
As discussed in the representation letter, management is responsible for the CountyTIC's compliance with those requirements.
Auditor's Responsibility
Our responsibility is to express an opiruon on management's assertion about theCounty TIC's compliance based on our audit of the types of compliance requirementsreferred to above. We conducted our audit of compliance in accordance with auditingstandards generally accepted in the United States of America and the standardsapplicable to audits contained in Government Auditing Standards, issued by theComptroller General of the United States. Those standards require that we plan andperform the audit to obtain reasonable assurance about whether noncompliancewiththe types of compliance requirements referred to above that could have a direct andmaterial effect on the County TIC's operations and investment activities occurred.An audit includes examining, on a test basis, evidence about the County TIC'scompliance with those requirements and performing such other procedures as weconsidered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion. Our audit doesnot provide a legal determination on the County TIC's compliance with the specifiedrequirements.
Opinion
In our opinion, management's assertion that the County TIC complied with theaforementioned requirements for the year ended June 30, 2018, is fairly stated in allmaterial respects.
This report is intended solely for the information of the Ventura County TreasuryOversight Committee, the County Board of Supervisors, management, and applicablelegislative bodies. However, this report is a matter of public record and its distributionis not limited.
BROWNARMSTRONG
ACCOUNTANCY CORPORATION
~~~Ifflr~~~~~
Bakersfield, CaliforniaDecember 7,2018
Exhibit 8.1
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Date: April 24, 2019 Agenda Item 9 – Receive and File the February 28, 2019 Investment Presentation, approved by the Ventura County Board of Supervisors on April 9, 2019. Recommendation It is recommended that the Treasury Oversight Committee receive and file the February 28, 2019 Investment Presentation, approved by the Ventura County Board of Supervisors on April 9, 2019. (Exhibit 9.1)
~ TREASURER-TAX COLLECTOR
'g' VENTURA COUNTY STEVEN HINTZTREASURER
TAX COLLECTOR
Sue HorganAssistant Treasurer-Tax Collector
April 9, 2019
Ventura County Board of Supervisors800 South Victoria AvenueVentura, CA 93009
SUBJECT: Receive and File Report of Investments, Including Market Values forInvestments for the Month Ending February 28, 2019.
RECOMMENDATION: Receive and File
FISCAL/MANDATES IMPACT: None
DISCUSSION:
This report covers the one-month period ending February 28, 2019. The report reflects continuingpositive trends in the investment portfolio results.
The average daily portfolio balance for February was $2.634 Billion, which exceeds the highestprior February balance ever, by $174 Million. It also reflects the predicted small decline of $53Million from January. The balance will continue to decline slightly until the April tax collectionperiod.
The annualized percentage yield for Februarywas 2.669%, an increase of 0.094% over January.As I write this report in mid-March, I believe the pool's annualized percentage yield will remainsteady in the 2.50% - 2.70% range through April.
Going forward, if the current pool investments were all held to maturity, the pool's approximate
yield to maturity is 2.62%.
The total net earnings for February were $5.393 Million. February is a short month; even twodays can make a difference. March is a long month. Actual earnings will be higher in March.
The weighted average days to maturity fell to 135days. The interest-rate sensitivity measure ofeffective duration fell to 0.360. Both of these numbers remain within the 12-month range,reflecting the pool's very low sensitivity to interest rate changes.
800 South Victoria Avenue, Ventura, California 93009-1290
www.venturapropertytax.org (805) 654-3734
Exhibit 9.1
County of Ventura
Board of Supervisors
April 9, 2019
Page 2 of 2
The three largest sectors, by percentage, were: Commercial Paper (29.69%), Yankee
Certificates of Deposit (28.94%), and Supranationals (13.55%.) The three largest individual
issuers, by percentage, were: J.P. Morgan Securities LLC (6.95%), International Finance
Corporation (6.88%), and Toronto Dominion (6.39%).
The portfolio has been managed with the stated objectives of safety, liquidity, and earning a
competitive return, as outlined in the Statement of Investment Policy. In striving to maintain the
primary objective, safety of principal, the County portfolio has for several years received a rating
of AAAf/S1 + by Standard & Poor's, the highest rating given by that agency, re-affirmed on January
16, 2019. The rating reflects S&P's opinion that the pool is well-managed, credit-worthy, well
diversified, and has a low sensitivity to interest rate variations. Regarding the secondary
objective of maintaining sufficient liquidity to meet cash flow needs, the portfolio maintains
significant cash reserves in the County's bank, as well as significant holdings in LAIF and CalTrust.
The pool has the ability to meet its participants' expenditure requirements for the next six months,
pursuant to a daily study of projected cash flows. All of the pool's assets have a well-developed
resale market, although of course it is our policy not to sell. Earning a competitive rate of return
is reflected by our performance against our benchmarks, even though they each have less
restrictive investment policies than ours.
The portfolio will be managed on the assumption that interest rates within our investment policy
horizon will not change significantly over the next few months. The portfolio is well-positioned to
respond, whether rates rise, drop, or hold steady. We will continue to focus our new investments
on issues with maturity dates of one year, or less, for at least the next three months.
This letter has been reviewed and approved as to form by the County Executive Office, the Auditor
Controller's Office, and County Counsel.
Please contact me at 805-654-3726 if you have any questions or require further information
regarding this item.
Sincerely,
STEVEN HINTZ
Treasurer-Tax Collector
Exhibit 1 - Wells Fargo Market/Cost Value Comparison Report - Month End 02/28/2019Exhibit 2 - Monthly Transactions Report - February 2019Exhibit 3 - Portfolio Average Monthly Balance Graph - February 2017-2019Exhibit 4 - Average Maturity Graph - February 2017-2019Exhibit 5 - Yield Comparison Graph - February 2018-2019Exhibit 6 - Rolling 2-Year % Yield Graph - February 2017-2019 (Ventura)Exhibit 7 - Rolling 2-Year $ Yield Graph - February 2017-2019Exhibit 8 - Portfolio Holdings by Class Graph - February 2019
800 South Victoria Avenue, Ventura, California 93009-1290
www.venturapropertytax.org (805) 654·3734
Exhibit 9.1
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
FED HOME LN MTG CORP DISC NOTE DTD 08/02/18 08/02/2019
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PR76 10,000,000.0000 06/03/2019 $10,000,700.00 $10,001,324.96 ($624.96) (.01) N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PS59 20,000,000.0000 07/03/2019 $20,006,800.00 $20,002,808.68 $3,991.32 .02 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PT66 10,000,000.0000 08/06/2019 $10,012,200.00 $10,002,199.52 $10,000.48 .10 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PU98 15,000,000.0000 07/18/2019 $15,015,900.00 $15,001,775.69 $14,124.31 .09 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PV22 20,000,000.0000 07/18/2019 $20,021,200.00 $20,002,356.87 $18,843.13 .09 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PV30 10,000,000.0000 09/03/2019 $10,013,200.00 $10,001,402.67 $11,797.33 .12 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PV89 10,000,000.0000 04/18/2019 $10,004,300.00 $10,000,291.92 $4,008.08 .04 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
63375PW62 10,000,000.0000 08/30/2019 $10,008,400.00 $10,000,619.00 $7,781.00 .08 N/A N/A .0000 .00NATIONAL BANK OF KUW CERT OF DEPOSIT
63375PW96 10,000,000.0000 08/01/2019 $10,005,900.00 $10,000,533.23 $5,366.77 .05 N/A N/A .0000 .00NATIONAL BANK OF KUWAI CERT OF DEPOSIT
65590AUG9 10,000,000.0000 03/28/2019 $9,999,300.00 $10,000,000.00 ($700.00) (.01) .0000 .00NORDEA BK AB (PUBL) NY CERT OF DEPOSIT
65590AUW4 10,000,000.0000 04/09/2019 $9,999,200.00 $10,000,000.00 ($800.00) (.01) .0000 .00NORDEA BK AB (PUBL) NY CERT OF DEPOSIT
65590AWW2 20,000,000.0000 05/10/2019 $19,994,800.00 $20,003,757.76 ($8,957.76) (.04) N/A N/A .0000 .00NORDEA BK AB (PUBL) NY CERT OF DEPOSIT
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
ROYAL BK OF CANADA CERT OF DEPOSIT
85325TS97 15,000,000.0000 07/22/2019 $15,019,800.00 $15,002,201.10 $17,598.90 .12 N/A N/A .0000 .00STANDARD CHRTRD BNK NY CERT OF DEPOSIT
85325TT96 10,000,000.0000 11/06/2019 $10,029,400.00 $10,001,473.40 $27,926.60 .28 N/A N/A .0000 .00STANDARD CHRTRD BNK NY CERT OF DEPOSIT
85325TZ57 10,000,000.0000 09/06/2019 $10,008,900.00 $10,001,251.44 $7,648.56 .08 N/A N/A .0000 .00STANDARD CHRTRD BNK NY CERT OF DEPOSIT
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
J.P. MORGAN SECURITIES CPDN DTD 08/16/18 05/13/2019
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
89233HQE7 10,000,000.0000 03/14/2019 $9,991,200.00 $9,813,941.67 $177,258.33 1.81 .0000 .00TOYOTA MOTOR CREDIT CO CPDN DTD 06/18/18 03/14/2019
89233HUJ1 10,000,000.0000 07/18/2019 $9,900,400.00 $9,827,841.67 $72,558.33 .74 .0000 .00TOYOTA MOTOR CREDIT CO CPDN DTD 12/11/18 07/18/2019
89233HW91 20,000,000.0000 09/09/2019 $19,721,600.00 $19,612,500.00 $109,100.00 .56 .0000 .00TOYOTA MOTOR CREDIT CO CPDN DTD 12/14/18 09/09/2019
89233HY81 10,000,000.0000 11/08/2019 $9,814,500.00 $9,820,083.33 ($5,583.33) (.06) .0000 .00TOYOTA MOTOR CREDIT CO CPDN DTD 02/13/19 11/08/2019
89233HYN8 10,000,000.0000 11/22/2019 $9,804,200.00 $9,808,711.11 ($4,511.11) (.05) .0000 .00TOYOTA MOTOR CREDIT CO CPDN DTD 02/26/19 11/22/2019
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
INTER-AMERICAN DEVEL BK DTD 09/17/09 3.875 09/17/2019
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
3130AERW2 8,145,000.0000 08/09/2019 $8,140,927.50 $8,137,482.17 $3,445.33 .04 N/A AAA .0000 .00FED HOME LN BK DTD 08/09/18 2.375 08/09/2019
3130AFB89 5,000,000.0000 11/30/2020 $5,030,500.00 $4,994,975.00 $35,525.00 .71 AA+ AAA .0000 .00FED HOME LN BK DTD 10/22/18 2.920 11/30/2020
3130AFMR5 5,000,000.0000 01/02/2020 $5,001,500.00 $5,002,200.00 ($700.00) (.01) N/A AAA .0000 .00FED HOME LN BK DTD 01/02/19 2.625 01/02/2020
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
FED HOME LN MTG CORP DTD 07/20/16 0.875 07/19/2019
797330AC1 3,045,000.0000 06/01/2019 $3,040,645.65 $3,045,000.00 ($4,354.35) (.14) A N/A .0000 .00SAN DIEGO CA TOBACCO SETTLEMEN TXBL-REF-SER A
797330AD9 3,060,000.0000 06/01/2020 $3,045,067.20 $3,060,000.00 ($14,932.80) (.49) A N/A .0000 .00SAN DIEGO CA TOBACCO SETTLEMEN TXBL-REF-SER A
7976462R6 10,000,000.0000 06/15/2019 $10,003,300.00 $10,062,300.00 ($59,000.00) (.59) AAA AAA .0000 .00SAN FRANCISCO CITY & CNTY CA TXBL-SER D
7976464Z6 445,000.0000 06/15/2021 $444,470.45 $445,000.00 ($529.55) (.12) AAA AAA .0000 .00SAN FRANCISCO CITY & CNTY CA TXBL-SOCIAL BONDS-AFFORDABLE H
797669XS2 750,000.0000 07/01/2019 $748,590.00 $748,102.50 $487.50 .07 AA+ N/A .0000 .00SAN FRANCISCO CA BAY AREA RAPI TXBL-REF-GREEN BOND-SER B
79766DNU9 1,000,000.0000 01/01/2021 $999,580.00 $1,000,000.00 ($420.00) (.04) A A1 .0000 .00SAN FRANCISCO CALIF CITY &CNTY TXBL-REF-SPL FACS LEASE-SFO FU
WELLS FARGOMarket/Cost Value Comparison Report General ReportingBy Account By Industry Class From Month End With Pricing 02/28/2019COUNTY OF VENTURA 03/07/2019 07:22:03 AM PST
ACCOUNT: All Accounts Selected * = Trade or Other Activity Pending
Maturity Market Fed Gain/Loss S & P Moody`s Units in EncumbrdAsset ID Units Date Value Tax Cost Amount % Rating Rating Transition Units
SAN JUAN CAPISTRANO CA TXBL-REF-OPEN SPACE MEASURE
798455BJ9 635,000.0000 09/01/2019 $634,517.40 $635,000.00 ($482.60) (.08) AA- N/A .0000 .00SAN LEANDRO CA REDEV AGY SUCCE TXBL-REF-REDEV PROJ-SER B
80136PCY7 955,000.0000 12/01/2021 $964,674.15 $955,000.00 $9,674.15 1.01 AA A1 .0000 .00SANTA BARBARA CNTY CA SOLID WA TXBL-SER C
Transaction Purchase/ Par Security Security MaturityDate Sale Amount Type Name Date Yield
02/01/19 Purchase 10,000,000.00 CP TOYOTA CREDIT de PUERTO RICO 03/28/19 2.49002/01/19 Purchase 10,000,000.00 YCD TORONTO DOMINION BANK NY 05/30/19 2.55002/01/19 Purchase 10,000,000.00 SUPRANATIONAL IFC DISCOUNT NOTE 05/30/19 2.41002/04/19 Purchase 10,000,000.00 SUPRANATIONAL IFC DISCOUNT NOTE 03/29/19 2.36002/05/19 Purchase 10,000,000.00 CP EXXON MOBIL CORP 03/29/19 2.41002/06/19 Purchase 10,715,000.00 MTN MICROSOFT CORP 02/06/20 2.56902/07/19 Purchase 10,000,000.00 CP KAISER FOUNDATION HOSP 04/09/19 2.50002/08/19 Purchase 10,000,000.00 YCD TORONTO DOMINION BANK NY 05/30/19 2.53002/11/19 Purchase 10,000,000.00 YCD OVERSEA-CHINESE BK CO NY 05/29/19 2.55002/12/19 Purchase 5,000,000.00 SUPRANATIONAL INTL BK RECON & DEVELOP 07/26/19 2.51202/12/19 Purchase 4,056,000.00 MTN MICROSOFT CORP 02/06/20 2.59502/13/19 Purchase 10,000,000.00 YCD TORONTO DOMINION BANK NY 05/28/19 2.54002/14/19 Purchase 10,000,000.00 YCD OVERSEA-CHINESE BK CO NY 05/29/19 2.55002/15/19 Purchase 10,000,000.00 YCD TORONTO DOMINION BANK NY 05/29/19 2.53002/15/19 Purchase 10,000,000.00 CP TOYOTA CREDIT de PUERTO RICO 05/24/19 2.48002/19/19 Purchase 10,000,000.00 YCD OVERSEA-CHINESE BK CO NY 05/20/19 2.54002/19/19 Purchase 2,763,000.00 SUPRANATIONAL INTER-AMERICAN DEVELOP BK NY 02/14/20 2.62002/22/19 Purchase 10,000,000.00 CP EXXON MOBIL CORP 05/28/19 2.48002/22/19 Purchase 5,000,000.00 CP EXXON MOBIL CORP 05/22/19 2.45002/22/19 Purchase 10,000,000.00 YCD TORONTO DOMINION BANK NY 05/28/19 2.52102/25/19 Purchase 10,000,000.00 CP EXXON MOBIL CORP 05/29/19 2.47002/26/19 Purchase 1,000,000.00 MUNI SAN FRANCISCO CA CITY & CNTY ARPTS 01/01/21 2.81302/26/19 Purchase 445,000.00 MUNI SAN FRANCISCO CITY & CNTY CA 06/15/21 2.54602/26/19 Purchase 10,000,000.00 CP TOYOTA MOTOR CREDIT CORP 11/22/19 2.56002/26/19 Purchase 1,500,000.00 SUPRANATIONAL INTL BK RECON & DEVELOP 07/26/19 2.50402/26/19 Purchase 10,000,000.00 GA FHLMC DISCOUNT NOTE 11/19/19 2.42502/26/19 Purchase 20,000,000.00 SUPRANATIONAL IFC DISCOUNT NOTE 11/07/19 2.45002/26/19 Purchase 20,000,000.00 SUPRANATIONAL IFC DISCOUNT NOTE 05/28/19 2.40002/27/19 Purchase 20,000,000.00 CP EXXON MOBIL CORP 05/29/19 2.47002/27/19 Purchase 10,000,000.00 SUPRANATIONAL IFC DISCOUNT NOTE 11/08/19 2.45002/27/19 Purchase 10,000,000.00 CP TOYOTA MOTOR CREDIT CORP 11/08/19 2.55002/28/19 Purchase 20,000,000.00 MTN MICROSOFT CORP 02/06/20 2.598
MONTHLY TRANSACTIONS REPORT - FEBRUARY 2019
Exhibit 2 - Monthly Transaction Report - February 2019
PORTFOLIO HOLDINGS BY CLASSSupras,l 3.55% Agency, 13.1 0%
YCD/NCD, 28.94%
Commercial Paper) 29.69%
Pools, 3.01%
EXHIBIT 8 02-19INV.PPT
Exhibit 9.1
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Date: April 24, 2019 Agenda Item 10 – Receive and file a Report of the Authorized Issuers List, dated April 1, 2019. Recommendation Receive and file a Report of the Authorized Issuers List, dated April 1, 2019. (Exhibit 10.1)
APPROVEDCOMMERCIAL PAPER(CP) ISSUERS
April 01, 2019
Issuer Credit Watch/Rating Comments:
Moody's S&P Fitch
Bank of New York Mellon (The) Stable P-l Stable A-1+ Stable F1+c
Bank of Nova Scotia NY Stable .' P-1 Stable A-l Stable H+
BNP Paribas (New York Branch) Stable P-1 Positive A-1 Stable H VCWatch
Canadian Imj:!erial Bank of Commerce NY Stable P-l Stable A-l " Stable Fl+ ,f
Chevron Corp Positive P-1* Stable A-1+ NR NR *Program Rating Only~' '"
~, rn,~
Coca-Cola Co Stable P-l Stable A-l Stable Fl
Credit Agricole CIB, NY Positive P-1 Stable A-1 Stable F1
Ii
Credit Suisse New York Stable P-l Positive A-l Positive Fl VCWatch
Dexia Credit Local, NY Stable P-1 No Outlool< A-1+* Stable F1+ VCWatch, "Program Rating only
Eli lilly &Co Stable P-1 Stable A-l+ Stable Fl
Exxon Mobil Corp Stable P-1 Negative A-1+ NR NR
Grainger Inc. ;,I Stable j P-2 Stable A-l NR NR VCWatch ,
Great-West life & Annuity Insurance Co, unde~ Review I P-l Stable A-1+ Stable F1+
HSBCBank USA , Stable P-l Stable A-l+ Nei@tlve Fl+ "
IBM Corp Under Review I P-1 Negative A-1 Negative F1
I
John Deere Ca~ital Cor~ Stable P-l Stable A-l Stable Fl
BNPParibas NY France Stable Positive Stable P-1 A-1 F1 Aa3 A A+ VCwatch, NPCRSP
Canadian Imp-BkComm NY Canada Stable Stable Stable P-1 A-1 Fl+ Aa2 A+ AA- "
Chiba Bank Ltd New York Japan Stable Stable l NR P-1 A-1 [ Nffi. A1 A [NI!J.Commonwealth BkAustr NY Australia Stable Negative Ne~1ve P-l A-l+ Fl+ Aa3 AA- AA-
Credit Agricole CIBNY France Positive Stable Stable P-1 A-1 F1 A1 A+ A+ NPCRSP
Credit Indust et Comm NY France Stable Stable St~ble P-l A-l F1 Aa3 A A+ VCwatch
Credit SuisseNY Switz'land Stable Positive Positive P-1 A-1 F1 A1 A A VCwatch,NPCRSP, ", -', :~ "jj
Rabobank Nederland NY Netherlands Stable'! '"Positive Stable P-l A-l Fl+ Aa3 A+ AA- NPCRSP
RoyalBank of CanadaNY Canada Stable Stable Stable P-1 A-1+ F1+ Aa2 AA- AA
Societe Generale NY France Stable Positive Stable P-l A-l Fl Al A A VCwatch NPCRSP j
Standard Chartered Bk NY UnKngdm Stable Stable Stable P-1 A-1 F1 A1 A A+ VCwatch
SvenskaHandelsbanken NY Sweden Stable Stable Stable P-l A-l+ Fl+ Aa2 AA- AAVCWatch
Swedbank NY Sweden N'egatlve Negative Negative P-1 A-1+ F1+ Aa2 AA- AA- Moody's& Fitchaffirmed4-02-19.S&Paffirmed4-01-19
Toronto Dominion Bank NY Canada Stable Stable Stable P-l A-l+ Fl+ Aal AA- AA-
F:\Treasury\lnvestment\Ratings\2019\03 - 2019\Approved YCDPrograms 03-01-2019 - April 01, 2019 Page1 of 2
Exhibit 10.1
APPROVED YANKEE AND NEGOTIABLE CD PROGRAMS
April 01, 2019
YANKEE CD PROGRAMS
Issuer Country Credit Watch Ratings Comments:
Short Term LongTerm
Moody's S&P Fitch M S&P F M S&P F
Westpac BankingCorp NY Australia Stable Negative Stable P-1 A-1+ F1+ Aa3 AA- AA-
STEVENHINTZ
Ventura County Treasurer-TaxCollector
DGautilD!L..: Bold = no change caution
~2l>11NPCRSP= Non parent credit rating S&P
F:\Treasury\lnvestment\Ratings\2019\03 - 2019\Approved YCDPrograms03-01-2019 - April 01, 2019 Page 2 of 2
Exhibit 10.1
Approved State Issuers
April 1, 2019
Issuer StatesRatings
Moody S&P Fitch
Delawar.e Aaa . AAA,· ' AAA
Florida Aaa -, AAA AAA
Georgia Aaa .j AAA AAA
Maryland Aaa· AAA AAA
Missouri Aaa I AAA ,j AAA
North Carolina Aaa AAA AAA
Tennessee Aaa AAA j AAA
Texas Aaa AAA AAA
Utah Aaa /: AAA AAA
Virginia Aaa "- AAA . AAA
Changesduring month: Upgrade Downgrade Activit\'
Comments:
Bold = no change caution
* = Parent Rating
STEVENHINTZ
Ventura County Treasurer-TaxCollector
F:\Treasury\lnvestment\Ratings\2019\03 - 2019\Approved Muni Issuers03-01-2019 - April 01, 2019Page1
Exhibit 10.1
APPROVED U.S.TREASURY, AGENCY AND SUPRANATIONAL ISSUERS
April 01, 2019
U.S. Treasury & Agencies
Issuer Comments:
Credit Watch Ratings
Short Term Long TermMoody's S&P Fitch
S&P Fitch Moody S&P Fitch
FederalHome Loan Bank (FI-iLB)
Federal National Mortgage Association (FNMA)
Federal Home Loan Mortgage Corporation (FHlMC)
Federal Farm Credit Bank (FFCB)
U.S.Treasury
NR AA+ ~R
Stable Stable Stable P-1 A-1+ AA+
Stable Stable Stable P-1 A-1+
Stable Stable Stable A-1+
Stable Stable Stable P-1 A-1+ Fl+ Aaa
Supra nationals
Issuer Comments:
Inter'l Finance Corp IFC
Inter-American Dev Bk IADB
Changes during month:
Credit Watch Ratings
Moody's S&P FitchShort Term Long Term
Moody S&P Fitch Moody S&P Fitch
Stable Stable. Stable P-l A-1+ Aaa AAA
Stable Stable NR P-1 A-1+ Aaa AAA
Stable Stable Stable P-1 A-1+ Fl+ Aaa AAA AAA
Bold = no change caution
* = Parent Rating
STEVENHINTZ
Ventura County Treasurer-Tax Collector
F:\Treasury\lnvestment\Ratings\2019\03 - 2019\Approved GSE_Supra Issuers 03-01-2019 - April 01, 2019
Page 1
Exhibit 10.1
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE
Date: April 24, 2019 Agenda Item 11 – Approval of a Recommendation to the Board of Supervisors to Renew the Delegation of Authority to Invest from July 1, 2019 through July 1, 2020. Recommendation Pursuant to Government Code Section 27000.1, the Board of Supervisors (“Board”) may, by ordinance, delegate to the Treasurer-Tax Collector the authority to invest or reinvest the funds of the County and the funds of all depositors in the County Treasury. This delegation must be reviewed by the Board annually and may be renewed each year by resolution pursuant to Government Code Section 53607. The most recent delegation was accomplished by Resolution No. 18-39 passed and adopted on May 8, 2018. (Exhibits 11.2) This delegation expires on July 1, 2019, unless renewed by the Board. It is recommended that the Treasury Oversight Committee support and recommend the renewal of this delegation of authority to invest from July 1, 2019 through July 1, 2020. (Exhibit 11.3)
~ TREASURER-TAX COLLECTOR
0go VENTURA COUNTY STEVEN HINTZ
TREASURERTAX COLLECTOR
SueHorganAssistant Treasurer-Tax Collector
May21,2019
Ventura County Board of SupervisorsCounty Government Center800 South Victoria AvenueVentura, CA 93009
SUBJECT: Adoption of a Resolution to Renew the Delegation of Authority to theTreasurer/Tax Collector to Invest.
RECOMMENDATION:
It is recommended that the Board adopt the attached Resolution ("Resolution") to renew thedelegation of authority to the TreasurerfTax Collector to invest or reinvest the funds of the Countyand the funds of all depositors in the County Treasury effective July 1, 2019, 12:01 A.M. (PDT)through July 1, 2020, expiring at 12:01A.M. (PDT).
FISCAUMANDATES IMPACT:
There is no fiscal impact to the County of Ventura.
DISCUSSION:
Pursuant to Government Code Section 27000.1, the Board may, by ordinance, delegate to theTreasurerfTax Collector the authority to invest or reinvest the funds of the County and the funds ofall depositors in the County Treasury. This delegation must be reviewed by the Board ofSupervisors annually, and may be renewed each year by resolution pursuant to Government CodeSection 53607.
The most recent delegation was accomplished by resolution passed on May 8, 2018, pursuant toGovernment Code Section 53607. This delegation expires on July 1,2019, unless renewed by yourBoard under the provisions of Government Code Section 53607. At its meeting held on April 24,2019, the Treasury Oversight Committee supported renewal of this delegation. Further, asdemonstrated by the monthly report on investments, the TreasurerfTax Collector continues tosuccessfully implement the County's investment policy and achieve its objectives of safety, liquidityand earning a competitive rate of return.
800 South Victoria Avenue, Ventura, California 93009-1290
www.venturapropertytax.org (805) 654-3734
Exhibit 11.1
County of Ventura
Board of Supervisors
May21,2019
Page 2 of 2
It is recommended that your Board adopt the attached Resolution to renew the delegation to take
effect at 12:01 A.M. (PDT) on July 1,2019, and shall expire, unless earlier revoked, at 12:01 A.M.
(PDT), on July 1, 2020.
This letter has been reviewed and approved as to form by the County Executive Office, County
Counsel and the Auditor-Controller's Office.
If you have any questions regarding this item, please call me at 654-3726 or Sue Horgan, Assistant
TreasurerfTax Collector, at 654-3771.
Regards,
STEVEN HINTZ
TreasurerfTax Collector
Exhibit 1 - Resolution
800 South Victoria Avenue, Ventura, California 93009-1290
www.venturapropertytax.org (805) 654-3734
------- - --
Exhibit 11.1
BOARD MINUTES
BOARD OF SUPERVISORS, COUNTY OF VENTURA, STATE OF CALIFORNIA
SUPERVISORS STEVE BENNETI, LINDA PARKS,
KELLY LONG, PETER C. FOY AND JOHN C. ZARAGOZA
May 8,2018 at 8:30 a.m.
CONSENT - TREASURER-TAX COLLECTOR - Adoption of a Resolution to Renew
the Delegation of Authority to the Treasurer-Tax Collector to Invest or Reinvest
the Funds of the County and the Funds of all Depositors in the County Treasury,
Effective July 1, 2018 through July 1,2019.
(X) All Board members are present.
(X) Upon motion of Supervisor Long. seconded by Supervisor Parks, and duly
carried, the Board hereby approves the recommendations as stated in therespective Board letters for Consent Items 11 - 24, with Supervisor Parks
dissenting on Item Nos. 20 and 22, and a revised Exhibit 3 on item No. 21.
By: ~'~Lori Gaines
Deputy Clerk of the Board
Item #245/8/18
Exhibit 11.2
EXHIBIT I
RESOLUTION___.._\ ~:_"'-=3;__~+---
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF VENTURA,
RENEWING THE DELEGATION OF AUTHORITY TO THE TREASURER TO INVEST OR
REINVEST THE FUNDS OF THE COUNTY AND THE FUNDS OF OTHER DEPOSITORS
IN THE COUNTY TREASURY
WHEREAS, pursuant to Government Code Section 27000.1, the Board may, by ordinance,
delegate to the Treasurer the authority to invest or reinvest the funds of the County and the
funds of all depositors in the County Treasury;
WHEREAS, a delegation of authority to invest must be reviewed by the Board of Supervisors
annually, and may be renewed each year by resolution pursuant to Government Code Section
53607;
WHEREAS, the most recent delegation by the Board of Supervisors was accomplished by
resolution, adopted April 25, 2017, effective July 1, 2017, pursuant to Government Code
Sections 53607· and 27000.1, and expires at 12:01 A.M., Pacific Daylight Time, on July 1,
2018, unless renewed by your Board under the provisions of Government Code Section
53607;
WHEREAS, the Board of Supervisors has reviewed the delegation ot authority to the
Treasurer to invest funds and desires to renew this delegation for another year pursuant to
Government Code Section 53607;
NOW, THEREFORE, BE IT RESOLVED, the Board hereby renews the delegation of authority
to the Treasurer to invest or reinvest the funds of the County and the funds of all depositors
in the County Treasury. This delegation shall take effect at 12:01 A.M., Pacific Daylight Time,
on July 1,2018, and shall expire, unless earlier revoked, at 12:01 A.M., Pacific Daylight Time,
on July 1, 2019.
Upon .motion ~rvisorSupervisor __ ~..LI,..~~ _
foregoing resolution on May 8, 2018.
ATTEST:
MICHAEL POWERS
Clerk of the Board of Supervisors
County of V ntura, State of California, ,By:
------------------------ - -----------------
Exhibit 11.2
VENTURA COUNTY TREASURY OVERSIGHT COMMITTEE MEETING FOR DISCUSSION ONLY
April 24, 2019 Meeting
RESOLUTION
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF VENTURA,
RENEWING THE DELEGATION OF AUTHORITY TO THE TREASURER TO INVEST OR
REINVEST THE FUNDS OF THE COUNTY AND THE FUNDS OF OTHER DEPOSITORS
IN THE COUNTY TREASURY.
WHEREAS, pursuant to Government Code Section 27000.1, the Board may, by ordinance,
delegate to the Treasurer the authority to invest or reinvest the funds of the County and the
funds of all depositors in the County Treasury;
WHEREAS, a delegation of authority to invest must be reviewed by the Board of Supervisors
annually, and may be renewed each year by resolution pursuant to Government Code Section
53607;
WHEREAS, the most recent delegation by the Board of Supervisors was accomplished by
resolution, adopted May 8, 2018, effective July 1, 2018, pursuant to Government Code
Sections 53607 and 27000.1, and expires at 12:01 A.M., Pacific Daylight Time, on July 1,
2019, unless renewed by your Board under the provisions of Government Code Section
53607;
WHEREAS, the Board of Supervisors has reviewed the delegation of authority to the
Treasurer to invest funds and desires to renew this delegation for another year pursuant to
Government Code Section 53607;
NOW, THEREFORE, BE IT RESOLVED, the Board hereby renews the delegation of authority
to the Treasurer to invest or reinvest the funds of the County and the funds of all depositors
in the County Treasury. This delegation shall take effect at 12:01 A.M., Pacific Daylight Time,
on July 1, 2019, and shall expire, unless earlier revoked, at 12:01 A.M., Pacific Daylight Time,
on July 1, 2020.
Upon motion of Supervisor ______________________________, seconded by Supervisor________________________ and duly carried, the Board hereby adopts the foregoing resolution on May 21, 2019.
_____________________________ Chair, Board of Supervisors County of Ventura
ATTEST:
MICHAEL POWERS Clerk of the Board of Supervisors County of Ventura, State of California
By: _______________________ Deputy Clerk of the Board