HomeMy WebLinkAboutStaff Report 3.F 06/06/2005CITY OF PETALUMA, CALIFORNIA 3. F
AGENDA BILL June 6, 2005
Agenda Title: Meeting Date:
Receive and File Quarterly Treasurer's Report June 6, 2005
Meeting Time: ❑ 3:00 PM
❑ 7:00 PM
Cateeory (check one): ❑ Consent Calendar ❑ Public Hearing ❑ New Business
❑ Unfinished Business ❑ Presentation
Department: I Director: I Contact Person: Phone Number:
Administrative Services I Steven Carmichael I Cinde Rubaloff 778-4357
Cost of Proposal: NA Account Number: NA
Amount Budgeted: NA Name of Fund: NA
Attachments to Agenda Packet Item:
Resolution Filing Quarterly Treasurer's Report
December 31, 2004 Treasurer's Report
Summary Statement:
State law requires all local agencies to file reports on the status of their investment portfolio with their City
Council and City Manager. The Administrative Services Director/City Treasurer provides the City Council
with a quarterly Treasurer's Report that shows the market value and the cost of all cash and investments
held by the City of Petaluma, along with a schedule that shows the monthly activity of receipts, transfers
and disbursements. The Quarterly Treasurer's report is presented to the City Council at a regularly
scheduled public meeting.
State law also requires that the City Treasurer submit an annual Statement of Investment Policy to the City
Council. The City's investment practices comply with the approved City Investment Policy and with the
requirements of State law.
Recommended Citv Council Action/Suggested Motion:
Approve resolution to receive and file December 31, 2004 Treasurer's Report
Reviewed by Admin Svc Dir:
Date: 511 2
Todav's Date:
Review AAQrnev:
Revision # and Date Revised:
Approveity Manager:
d Date:
File Code:
s:\acc ountan t\cinde\word\tr\aeendnbill
RESOLUTION TO REVIEW AND FILE THE
DECEMBER 31, 2004 QUARTERLY CITY TREASURER'S REPORT
WHEREAS, State Law requires that the City Council review the City's Treasurer's Report
on a quarterly basis for compliance with the adopted City Investment Policy.
NOW, THEREFORE, BE IT RESOLVED that the City Council has reviewed said report
and directs the City Clerk to file it.
City of Petaluma, California
Cash/Investment by Type -December, 2004
Total Cash/Investments $80,583,292
LAW
$8,763,507
10.88%
Federal Agency Securities
$30,762,571
38.17%
Other Cash
�nen NI 1820921
V
162
Fiscal Agents
$39,094,792
48.51%
fdenvme: s \.n ...nWnt\nndelesc Nth nd
Cash Activity for the Quarter:
Cash and Investments, beginning of the quarter
Cash Receipts
Cash Disbursements
Cash and Investments, end of the quarter
Cash and Investment Portfolio at
Investments Managed by City Treasurer:
AD 2000-2001 Bond
Local Agency Investment Fund
CA Asset Management Prog
CAMP/Fed Agency Securities
Wells Fargo Sweep Account
Subtotal
Investments Managed by Trustees:
CAMP/Fed Agency Securities
Trustee Money Markel Accounts
Subtotal
Cheeldng Accounts
Total Cash and Investments
Cush = Sweep Account plus Checking Accounts
CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending December, 2004
S 88,981,373
23,346,717
(31,744,798)
S 80,583,292
December 31, 2004
Percent Weighted
Fair Par Value of Days to Current
Value* (Cost) Portfolio Maturity Annual Yield
925,352
925,352
1.15% 3,669
6.00%
8,745,546
8,763,507
10.881% 1
2.00%
2,219,162
2,219,162
2.75% 1
1.92%
30,091,829
30,762,571
38.17% 616
2.41%
(0)
(0)
0.00% 1
1.12%
41,981,889
42,670,592
52.95%
38,853,550 38,940,152 48.32% 43 1.91"/)
154,639 154,639 0.19% 1 1.35%
39,008,189 39,094,792 48.51%
(1,182,092) (1,182,092) -1.47% 7
S 79,807,986 S 80,583,292 1011.1111%
(1,182,092)
Fair values were famished by the State of California, Local Agency Investments and CAMP.
I certify that this report contains the total amounts of cash and investments at December 31, 2004.
The investments are in conformity Nvith 0te Investment Policy as stated in Resolution Number 2004-020NCS, dated
February 23, 2004. A copy of the Investment Policy is available for review in the Finance Department. The
City Treasurer's cash management program provides sufficient liquidity to meet expenditure requirements for
the next six months.
* adjusted to PV quarterly
Steven Carmichael. Administrative Services Director
filename: s:\accountant\cinde\excel\tr\2nd
CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending December, 2004
Beginning End
of Quarter Receipts*A Transfers Disbursements of Quarter
Investments Managed by City Treasurer:
AD 2000-2001 Bond
925351.72
-
-
- 925.351.72
Local Agency Investment Fund
8,226,491.84
37,006.10
500,000.00
- 8;763,497.94
Local Agency Investment Fund
9.05
0.05
-
- 9.10
CA Asset Managcrnent Prog
6,383,863.67
11,300.30
(4,167,179.03)
(8,822.70) 2.219,162.24
FHLB TAP Note 2/05
903;794.25
(940.87)
(902,853.38)
- -
FHLMC Global Rel Note 7/05
L084,641.78
(313622.70)
(1,053,019.08)
- -
FNMA Benchmark Note l2/05
1,161;938.79
15,900.00
(31,800.00)
- 1;146,038.79
FHLMC Global Rel Note 1/06
2,189,744.79
26,250.00
-
- 21215,994.79
FFILB TAP Note 2/06
1;198487.65
14,646.87
-
- 1;213,134.52
FHLB TAP Note 2/06
11009,839.73
5,937.49
-
- 1,015,777.22
FFILMC Global Ref Note 7/06
1,654,773.17
20,625.00
-
- 1,675,398.17
FHLB TAP Notes 8/06
1,488,592.08
8,906.25
-
- 1,497,498.33
FHLB "PAP Notes 8/06
748,60854
4,453.13
-
- 753;061.67
FHLMC Global (callable) 11/06
1,524,550.00
11;250.00
(22,500.00)
- 1,513,300.00
FFILMC Note (callable) 12/06
1,510104.17
9,187.50
(187375.00)
- 1;500;916.67
FFILMC Note (callable) 12/06
1,092,613.84
6;645.63
(132291.25)
- L095.96922
FHLMC Ref Note 12/06
760,977.87
51390.61
(10,781.25)
- 755,587.23
FHLB Bond (callable) 12/06
1005,702.08
5,550.00
(11,100.00)
- 11000,152.08
FHLB TAP Notes 2/06
1,143,964.60
6,768.75
-
- 1,150,733.35
FNMA Note 2/07
1910;800.97
11,281.25
-
- 1;922,082.22
FHLB Note (callable) 6/07
875,438.96
6584.37
-
- 882,023.33
US Treasury Note 9/05
1,102,713.18
(8185157)
(1,093,861.61)
- (0.00)
US Treasury Note 11/05
1,406,152.35
18,120.90
(35793750)
- 1,388;335.75
US Treasury Note 11/O5
1,505,057.31
(2,324.65)
(1;502;732.66)
- 0.00
US Treasury Note 2/06
999,985.32
4,129.84
-
- 1,004,115.16
US Treasury Note 5/06
1;172,725.88
(73,189.53)
(1,0997536.35)
- (0.00)
US Treasury Note 5/06
355,761.21
(41413.64)
(351,347.57)
- -
USTreasurVNote 6/06
1,018,439.54
67945.00
(132887.50)
- 11011,497.04
US Treasury Note 8/06
17001,760.40
6,035.91
-
- 1,007,796.31
US Treasury Note 9/06
-
6,95055
1,097,32555
1,104,276.10
US Treasury Note 9/06
-
3,708.79
900,774.22
904;483.01
US Treasury Note 11/06
-
4;407.28
1,855,571.16
1,859,978.44
US Treasury Note 5/07
841;256.02
61539.29
(12,968.75)
- 834;826.56
US Treasury Note 5/07
808,630.43
6;302.93
(12,50000)
- 8021433.36
US Treasury Note 8/07
1;506;850.37
10,312.50
-
- 1;517;162.87
Wells Fargo Sweep Account
636,954.76
2;007.88
(638,962.64)
- (0,00)
Subtotal
49,156,576.32
161,801.21
(6,638,962.64)
(8,822.70) 42,670,592.19
filename: s:\accountant\cinde\excel\trLnd
Investments Managed by Trustees
CAMP/Fed Agency Securities
US Bank First American Treas
X Morgan US Govern MM
Wells Fargo Govern MM
Union Bank Blackrock
Subtotal
Checking Accounts
General Operating
Payroll
Mast
Thomas Lee
Police Trust
Subtotal
Total Cash and Investments
^ includes gain/lass un maturity/disposal
accrual basis
CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending December, 2004
Beginning
of Quarter Receipts*A Transfers
End
Disbursements of Quarter
38,7561861.26
184,732.68
-
(25,298,716.04)
(1,447.54)
(7;250,544.61)
38,940;152.40
32,884.95
91.85
-
(42708298.59)
(1,650.00)
23,819.62
31,326.80
122716.73
511.89
1,091,001.88
(25.00)
(12091,004.54)
12927.09
123,225.96
25.28
-
21.78
194,613.47
(194,638.75)
283.48
21.78
16.82
73.24
4381862.85
(1,312.57)
(438,888.29)
42,422.44
64.62
38,912,505.04
185,431.44
1,724,478.20
(30,008,352.20)
(1,727,623.12)
(1,182,091.98)
39,094,791.56
S
846,134.70
22,930,879.29
271,157.44
(25,298,716.04)
(7;250,544.61)
8,991.21
-
4,723,127.00
(42708298.59)
23,819.62
13,422.26
68,529.83
(80,000.00)
(25.00)
12927.09
83.48
-
200.00
-
283.48
43,660.26
74.75
-
(1,312.57)
42,422.44
912,291.91
22,999,483.87
4,914,484.44
(30,008,352.20)
(1,182,091.98)
S 88,981,373.27
S
23,346,716.52
S
- S
(31,744,798.02)
S
80,583,291.77
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CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending December, 2004
Reconciliation of Cash Disbursements:
Accounts Payable Cash Disbursements
October, 2003
Accounts Payable Cash Disbursements
November, 2004
Accounts Payable Cash Disbursements
December, 2004
Accounts Payable Cash Disbursements after
December 31, 2004
Prior Quarter's Timing Items
$ 529,652 $
Voided Accounts Payable Checks
$ 920,736
Check Written to Trustee - Recorded as a transfer on
page two
Payment made by Trustees on Debt Issues/Refunding//Cost
of Issuance
Payroll Cash Disbursements
October, 2003
Payroll Cash Disbursements
November, 2004
Payroll Cash Disbursements
December, 2004
Payroll Cash Disbursements after
December 31, 2004
Prior Quarter's Payroll Timing Items
Voided Payroll Checks
Credit Card Fees
Bank/CAMP Fees Net
Trustee Fees
Police Trust Cash Disbursements
Thomas Lee Charity Cash Disbursements
Comparison of Current Investments to Prior Quarter and to Prior Year:
9,689,087.29
8,642,844.52
8,683,464.15
(6,881.39)
(17724,498.20)
L724,516.90
1,842,098.60
L590,609.25
11290,416.02
1,666.86
(16,120.08)
(372.06)
8.543.85
15,00352
3,106.22
1,31257
31,744,798.02
US T-bill 91 day Yield 1.68% 2.22% 0.99%
September, 2004
December, 2004
December, 2003
Cash and Investments at the end of the quarter
$ 88,981,373 $
80,583,292
$ 98,901,072
Interest Received or Accrued from July 1
$ 529,652 $
1,050,961
$ 920,736
Estimated Average Interest Rate
1.78%
1.78%
1.45%
US T-bill 91 day Yield 1.68% 2.22% 0.99%
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CITY OF PETALEAU, CA
CITY TREASURER'S QUARTERLY REPORT
Far the quarter ending December, 21114
Interfnad Loans:
Current Period Interest
Year to Date InterestI
Repayment
u
Atnunt
am
LoTo
Loan From
Purpose
I Accrued
Paid (
Accrued
Paid
Schedule
1,274,686
Marina Fund
PCD
Loan payments
9,724
9,724
19,448
19,448
principal not scheduled
161.000
TOT Fund
General Fund
Cash flow
-
-
-
-
to reduce transfer to OF if necessary
769.000
Gas Tux Fund
General Fund
Cash flow
-
-
-
-
to reduce transfer to St Main if necessary
12,997,000
CBD
PCD
Project Financing
61588
-
74,578
41,990
as cash flow permits
110,000
CDBG
Mousing -in Lieu
Cash flow
-
-
-
-
when Brant revenue received
250,000
Gen Govern CIP Fund
General Fund
Cash flow
1,907
1,907
1.907
1,907
when grant revenue received
184,300
Transit
General Fund
Cash flow
1,406
1,406
4,534
4.534
when grant revenue received
15,745,986
Inturfund loan interest calculation assumes that repayments are made the first day of the quarter and loans are made the last day of the quarter.