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HomeMy WebLinkAboutStaff Report 3.D 07/11/2005CITY OF PETALUMA, CALIFORNIA 3.D AGENDA $ILL Agenda Title: Meeting Date. Receive and File Quarterly Treasurer's Report July 11, 2005 Meeting Time: ❑ 3:00 PM ❑ 7:00 PM Category (check one): C} Consent Calendar [] Public Hearing ❑ New Business ❑ Unfinished Business ❑ Presentation Department: Director: Contact Person: Phone Number: Administrative Services I Steven Carmichael Cinde Rubaloff 778-4357 Cost of ProuosaL NA Account Number: NA Amount Budgeted: NA Name of Fund: NA Attachments to Agenda Packet Item: Resolution Filing Quarterly Treasurer's Report March 31, 2005 Treasurer's Report Summary Statement: State Iaw 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/Situested Motion: Approve resolution to receive and file March 31, 2005 Treasurer's Report Reviewed by Admin Svc Dir: lk� U"( a � Todav's Date: Reviewed by City Attornev Date: Revision # and Date Revised: # Ann rav by City Manager: Date: File Code: s:taccougtanttcinde�wordltr\agendabi It RESOLUTION TO REVIEW AND FILE THE MARCH 31, 2005 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 Cleric to file it. City of Petaluma, California Cash/Investment by Type -March, 2005 Total Cash/Investments $76,988,247 Other $925,34 LAN 120 $2,794,018 3.61% 3 Federal Agency Securities rri1.230.998 40.57% Cash $4,490,627 5.83% CAMP $1,469,957 1.91% Fiscal Agents $36,077,295 46.86% filename: s:\accountant\cinde\esceHtr\3rd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2005 Cash Activity for the Quarter: Cash and Investments, beginning of the quarter $ 80,583,292 Cash Receipts 16.457.152 Cash Disbursements (201052,197) Cash and Investments, end of the quarter $ 76,988,247 Cash and Investment Portfolio at March 31, 2005 Cash = Sweep Account plus Checking Accounts 4,490,628 Fair values were fiurnished by the State of California, Local Agency Investments and CAMP. I certify that Uuis report contains the total amounts of cash and investments at March 31, 2005. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS. dated February_ 23, 2004. A cop), 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 FV quarterly /S even Carmichael, Administrative Services Director Percent Weighted Fair Par Value of Days to Current Value* (Cost) Portfolio Maturity Annual Yield Investments Managed by City Treasurer: AD 2000-2001 Bond 925,352 925,352 1.20% 3,579 6.00% Local Agency Investment Fund 2,784,145 2,794,018 3.63% 1 2.00% CA Asset Management Prog 1,4691957 1,4691957 1.91% 1 2.43% CAMP/Fed Agency Securities 30,790,303 31,230,998 4057% 615 3.00% Wells Fargo Sweep Account 4,346,169 47346,169 5.65% 1 1.12% Subtotal 40,315,925 40,766,493 52.950% Investments Managed by Trustees: CAMP/Fed Agency Securities 35,875,573 35,875,573 46.60% 1 2.43% Trustee Money Market Accounts 201,722 201,722 0.26% 1 2.10% Subtotal 36,077,295 36,077,295 46.86% Checking Accounts 144,459 144,459 0.19% 1 Total Cash and Investments $ 76,537,680 $ 76,988,247 100.00% Cash = Sweep Account plus Checking Accounts 4,490,628 Fair values were fiurnished by the State of California, Local Agency Investments and CAMP. I certify that Uuis report contains the total amounts of cash and investments at March 31, 2005. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS. dated February_ 23, 2004. A cop), 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 FV quarterly /S even Carmichael, Administrative Services Director Nc�uunc s.\xannntlaut\cuidc\cvccNUNd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2005 Begurrung End of Quarter Receipts" Transfers Disbursements of Quarter Investments Managed by City Treasurer AD 2000-2001 Bond 925,351.72 - - - 925,351.72 Local Agency Investment Fund 8,763,497.94 30,510.94 (620007000.00) - 2,794,008.88 Local Agency Investment Fund 9.10 0.05 - - 9.15 CA Asset ManagementProg 2,219,162.24 8.702.25 (752536.38) (5371.51) 1,469956.60 FNMA Benclunark Note 12/05 1,146,038.79 (53171.72) (1,092,867.07) - - ITH MCGiabalRefNotel/06 2,2152994.79 (118,666.46) (23097,328.33) - - FIILB TAP Note 2/06 1,213,134.52 (70,549.59) (1,142,584.93) - - FTiLB Note 2106 1,015377.22 (11,907.50) (11003,869.72) - - FNMA Note 7/06 - 5,976.39 3,308,333.05 - 3314,30944 FIILMCGlobal Ref Note 7/06 1,675,398.17 (85,386.81) (1,590,011.36) (11.00) F ILMC Global Ref Note 7106 17,635.33 1,394,437.82 1412,073.15 FHLB TAP Notes 8/06 1,497,498.33 5,849.44 (1503,347.77) - - FHLB TAP Notes 8/06 753,061.67 (3,491.92) (749,569.75) - - FHLB TAP Notes 8/06 - 4,491.67 2,21 L098,02 - 2,215,589.69 FHLB TAP Note 11/06 - - 2,306,457.05 - 2,306,457.05 FHLMC Global (callable) 11/06 1513,300.00 11250.00 - - 1,524,550.00 FMMC Note (callable) 12106 Ir500,916.67 9,187.50 1,510,104,17 FI-II.MC Note (callable) 12106 1,081968.22 6,645.62 - - 1,092,613.84 FIILMC Ref Note 12/06 755,587.23 5,390.64 - - 760,977.87 FHLB Bond (callable) 12/06 1,000,152.08 5,550.00 - - 1,005,702.08 FHLB TAP Notes 2/06 1150,733.35 6,768.75 (13753750) - 1,143,964.60 FNIviA Note 2/07 1,922,082.22 I1,291.25 (22,56250) - 1,910,800.97 FHLB Note (callable) 6/07 882,023.33 6,584.38 (13,168.75) 875,438.96 US Treasury Note 1]/05 1,388,335.75 (96,669.98) (1291665.77) - - usTreasury Note 2/06 1,004,115.16 (11307.84) (992,807.32) - 0.00 US Treasury Note 6/06 1,011,497.04 6,905.38 - - 1,018,402,42 US Treasury Note 8/06 1,007,796.31 5,870.47 (1 t 1375.00) - 1.00 1 ,791 38 US Treasury Note 9/06 1104;176.10 61799.04 (13,750.00) - 1,097,325.14 US Treasury Note 9/06 904,483.01 5,562.85 (11,250.00) - 898,795.86 US Treasury Note 9/06 - 4,202.53 2,004,858.69 - 2,009,061.22 US Treasury Note 11/06 1,859,97844 13,221.84 - - 1,873:100.28 US Treasury Note 1/07 - 5,032.80 1098,172.52 - 1103,20532 US Treasury Note 5/07 834,826.56 6,448.55 - - 8.11,277.11 US Treasury Note 5/07 802,433.36 6215.47 - - 808,648,83 US Treasury Note 8/07 1,517,162.87 10171.92 (20,625.00) - 1,506 709.79 Wells Fargo Sweep Account - 21486.66 4,343,681.92 - 413,16,168.58 subtotal 42,670,592.19 (242,411.10) (1,656,318.08) (5,371.51) 40,766,492.50 Wu�wne. s \uccomnm�tlemde\excel\M3N Investments Managed by Trustees CAMP/Fed Agency Securities US Bank First American Treas JP Morgan US Govern MM Wells Fargo Govern MM Union Bank Blackrock- Subtotal lackrockSubtotal Checking Accounts General Operating Payroll Mast Thomas Lee Police Trust Subtotal Total Cash and Investments * includes gainless an maturity/disposal * accrual basis CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2005 Beginning of Quarter Receipts*^ Transfers End Disbursements of Quarter 38,940,152.40 225,584.83 (3,1517595.16) (138,569.23) 35,875,572.84 31,326.80 128.41 - 1,650.00 33.105.21 123,225.95 519.89 179,499.00 (134,715.01) 168,529.83 21.78 0.09 - - 21.87 64.62 1.42 162194.47 (16,195.13) 65.38 39,094,791.55 226,234.64 (2,955,901.69) (287,829.37) 36,077,295.13 (11250,544.61) 16,424,284.65 949,729.77 (16,049,596.50) 73,873.31 23,819.62 - 32709,290.00 (327092199.35) 23,910.27 1,927.09 48,932.61 (462800.00) - 4,059.70 283.48 - - (200.00) 83.48 42,422.44 109.91 - - 42532.35 (1,182,091.98) 16,473,327.17 4,612,219.77 (19,758,995.85) 144,459.11 S 80,583,291.76 S 16,457,151.71 S - S (20,052,196.73) S 76,988,246.74 filename s\ncca,mt:urt\cnide\raccl\trlird CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2005 Reconciliation of Cash Disbursements: Accounts Payable Cash Disbursements January, 2005 Accounts Payable Cash Disbursements February, 2005 Accounts Payable Cash Disbursements March, 2005 Accounts Payable Cash Disbursements after March 31, 2005 Prior Quarter's Timing Items Voided Accounts Payable Checks Disbursements to Trustee - Recorded as a transfer on page two Trustee Disbursements For Debt Service Payroll Cash Disbursements January, 2005 Payroll Cash Disbursements February, 2005 Payroll Cash Disbursements March, 2005 Payroll Cash Disbursements after March 3 L 2005 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: December. 2004 Cash and Investments at the end of the quarter $ 80,583,292 S Interest Received or Accrued from July 1 Estimated Average Interest Rale US T-bill 91 day Yield 6,150,345.69 4,519,166.67 5,648,159.44 (279,162.85) 287,296.88 1,231,681.17 1.233,752.07 1,243,766.11 6,397.72 10,06132 532.51 200.00 20,052,196.73 March, 2005 March, 2004 76,988,247 S 96,421,293 S 1,050,961 S 1,062,546 $ 1,416,346 1.7 WA 2.54% 1.50% 2.22% 2.80% 0.93% fiin:mne c\,mrnum:maaanacaemeDatrta CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2005 Interl'und Loans: Purpose Amount Loan To 1274.696 Marina Fund 22.000 TOT Fund 592.000 Gas Tax Fund 27.297.000 CBD 75.000 Gen Govern CIP Fund X5.000 Police Gnud Fund 135.000 General Fund Loan Brom Purpose PCD Loam payments General Fund Cash flaw General Fund Cash flow PCD Project Financing General Fund Cash flow General Fund Cash Flow Vehicle/Equip Replace Purchase Parking 125 Enforcement Vehicles Current Period Interest I Year to Date InterestI Repayment Accrued Pal d Accrued Paid Schedule 7,257 7,257 26,705 26,705 principal not scheduled 125 125 125 125 reduce transter to GP if necessary at 6/05 3,370 3,370 3,370 3,370 reduce transfer to St blain if necessary at 6/05 73,996 - 178,574 41,990 eliminate when project areas merge 427 427 2,334 2,334 when grant revenue received - - - - when grant revenue received - - - - over 19 months from increrased revenue Interlund loan interest calculation assumes that repayments are made the first day of the quarter and loans are made the last day ofthe quarter.