To: Contra Costa County Housing Authority Board of Commissioners
From: Joseph Villarreal, Executive Director
Report Title: INVESTMENT REPORT FOR THE QUARTER ENDING SEPTEMBER 30, 2024
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
RECEIVE the Housing Authority of the County of Contra Costa's investment report for the quarter September 30th, 2024
BACKGROUND:
California Government Code (CGC) Section 53646 requires the Housing Authority of the County of Contra Costa (HACCC) to present the Board of Commissioners with a quarterly investment report that provides a complete description of HACCC's portfolio. The report is required to show the issuers, type of investments, maturity dates, par values (equal to market value here) and the current market values of each component of the portfolio, including funds managed by third party contractors. It must also include the source of the portfolio valuation (in HACCC's case it is the issuer). Finally, the report must provide certifications that (1) all investment actions executed since the last report have been made in full compliance with the Investment Policy and; (2) HACCC will meet its expenditure obligations for the next six months. (CGC 53646(b)).
The state-mandated report has been amended to indicate the amount of interest earned and how the interest was allocated. The amended report is attached.
In summary, HACCC had $24,907.85 in interest earnings for the quarter ending September 30th, 2024. That interest was earned within discrete programs and most of the interest earned is available only for use within the program which earned the interest. Further, interest earnings may be restricted to specific purposes within a given program.
The Housing Choice Voucher Program reserve as of 12/31/2013 held in cash and investments was transitioned to HUD held program reserve account.
Non-restricted interest earnings within both the voucher and public housing progra...
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