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HomeMy WebLinkAboutStaff Report 2.B 09/19/2005CITY OF PETALUMA, CALIFORNIA 2 B AGENDA BILL Cggtpm�r 19-, 20115 Agenda Title: �Me ing Date: Receive and File Quarterly Treasurer's Report September 19, 2005 Meeting Time: N 3:00 PM ❑ 7:00 PM Category (check one): © Consent Calendar ❑ Public Hearing ❑ New Business ❑ Unfinished Business ❑ Presentation Department: I Director: Contact Person: Phone Number: Administrative Services StevenCa chael Cinde Rubaloff 778-4357 l 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 June 30, 2005 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 City Council Action/Suggested Motion: Approve resolution to receive and file June 30, 2005 Treasurer's Report Reviewed by Admin Svc Dir: Todav's Date: Reviewed by City Attornev: Date: Revision # and Date Revised: Appritv Manager: Date: File Code: s:\accountant\cinde\word\tr\agendabi I I RESOLUTION TO REVIEW AND FILE THE JUNE 30, 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. 9 City of Petaluma, California Cash/Investment by Type -June, 2005 Total Cash/Investments $70,227,293 Other Cash Federal Agency Securities $31,489,181 44.84% 393,049 !.00% Fiscal Agents $19,137,208 27.25% 6lennme s'\accowlnnt\cinde\cccc!\td3rd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2005 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 June 30, 2005 Fair values were furnished by the State of California, Local Agency Investments and CAMP. I certify that this report contains the total amounts of cash and investments at June 30, 2005. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS, dated Febmary 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. ^J�n� � n * adjusted to FV quarterly 11 yv-Vl_►l/l.{,� /'yl / Steven Cannichacl, Administrative Services Director S 76,988,247 24,397,842 (31,158, 796) S 70,227,293 Current Annual Yield 6.00% 2.85%, 2.78% 3.23% 2.02% 2.78% 2.51% M Percent Weighted Fair Par Value of Days to Value* (Cost) Portfolio Maturity Investments Managed by City Treasurer: AD 2000-2001 Bond 925,352 925,352 1.32%, 3,489 Local. Agency Investment Fund 187044,266 18,085,002 25.75% 1 CA Asset Management Prog 1,393,049 1,393,049 1.98% 1 CAMP/Fed Agency Securities 31,221,810 31,489,181 44.84% 618 Wells Fargo Sweep Account 263,710 263,710 0.38% 1 Subtotal 51,848,188 52,156,294 74.27% Investments Managed by Trustees: CA Asset Management Prog 19,008,222 19,008,222 27.07% 1 Trustee Money Market Accounts 128,986 128,986 0.18% 1 Subtotal 19,137,208 19,137,208 27.25% Checking Accounts (1,066,210) (1,066,210) -1.52% 1 Total Cash and Investments S 69,919,186 S 70,227,293 100.00% Cash = Sweep Account plus Checking Accounts (802,500) Fair values were furnished by the State of California, Local Agency Investments and CAMP. I certify that this report contains the total amounts of cash and investments at June 30, 2005. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS, dated Febmary 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. ^J�n� � n * adjusted to FV quarterly 11 yv-Vl_►l/l.{,� /'yl / Steven Cannichacl, Administrative Services Director S 76,988,247 24,397,842 (31,158, 796) S 70,227,293 Current Annual Yield 6.00% 2.85%, 2.78% 3.23% 2.02% 2.78% 2.51% M fiL^mm�e s\attonnlmdtcu,de\eeml\U13M CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2005 Beginning 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 2,794,008-88 90,98354 15,200,000.00 18,084,992.42 Local Agency Investment Fund 9.15 0.06 - - 9.21 CA Asset Management Prog 1,469,956.60 10,247.99 (81,939.64) (57215.49) 1,393,049.46 FNMA Note 7/06 3,314,309.44 26,893.75 - - 3,341,203.19 FHLMCGlobal Ref Note 7/06 1,412,073.15 (11,304.15) (1,400,769.00) - - FI-ILB TAP Notes 8/06 2,215,589.69 19,250.00 - 2,234,839.69 FHLB TAP Note 11/06 2,306,457.05 23,357.82 (46,715.63) - 2,283,099.24 FHLMC Global (callable) 11/06 17524,550.00 11,250.00 (22,500.00) - 1,513,300.00 FHLMC Note (callable) 12/06 1,510,104.17 9,18750 (18,375.00) - 1,500,916.67 FI-ILMC Note (callable) 12/06 1,092,613.84 62645.63 (13,291.25) - 1,085,968.22 FHLMC Global Ref Note 12/06 760,977.87 5,390.62 (10,781.25) - 755,587.24 FHLB Bond (callable) 12/06 L005,702.08 5,550.00 (11,100.00) - 1,000,152.08 FNMA Global Benclunark 2/07 1,143,964.60 6,768.75 - 1,150,733.35 FNMA Global Benchmark 2/07 1,910,800.97 11,281.25 - - 1922.082.22 FHLB Notes 5/07 - 6,253.13 1,030,446.00 - 11036,699.13 FHLB Note (callable) 6/07 875,438.96 6,584.37 - - 882,023.33 FHLB TAP Notes 11/07 - 7,027.22 1,371,383.27 - 1378,410.49 FHLB Notes 6/08 - 9,666.67 3,018,273.33 - 3,027,940.00 US Treasury Note 6/06 1,018,402.42 (7,052.95) (1,011,349.47) - 0.00 US Treasury Nate 8/06 1,001,791.78 (9,084.57) (992,707.21) - 0.00 US Treasury Note 9/06 1,097,325.14 (6,857.15) (1,090,467.99) - - US Treasury Nate 9/06 898,795.86 (6,594.79) (892,201.07) - - US Treasury Note 9/06 2,009,061.22 16,764-42 (2,025,825.64) - - US Treasury Note 11/06 1,873,200.28 13,343.86 (262737.50) - 1,859,806.64 US Treasury Note 1/07 1,103,205.32 8,641.23 - - 1.111.846.55 US Treasury Note 5/07 841,275.11 6,48554 (12,989.00) - 834,771.65 US Treasury Note 5/07 8081648.83 6,211.35 (122479.75) - 802,380.43 US Treasury Note 5/07 - 215-16 2,250,126.80 - 2,250,341.96 US Treasury Note 8/07 1,506,709.79 10,369.48 - - 11517,07927 Wells Fargo Sweep Account 4,346,16858 6,429.91 (4,088,888.58) - 261709.91 Subtotal 40,766,492.50 283,905.64 11,111,111.42 (5,215.49) 52,156,294.07 flcawa s.\accowtwl\cnuL\ctccl\u\3n1 CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2005 Beginning of Quarter Receipts*^ Transfers Investments Managed by Trustees: End Disbursements of Quarter CA Asset Management Prog 35,875,572.84 193,258.15 (17,059,661.28) (947.64) 19,008,222.07 US Bank First American Treas 33,105.21 176.06 - - 33,281.27 JP Morgan US Govern MM 168,529.83 1,276.38 1,411,739.38 (1,486,004.61) 95,540.98 Wells Fargo Govern MM 21.87 105.54 519,616.88 (519,638.75) 10554 Union Bank Blaclaack 65.37 60.80 214,689.61 (214,75217) 58.61 Subtotal 36,077,295.12 194,876.93 (14,913,615.41) (2,221,348.17) 19,137,208.47 Checking Accounts: General Operating 73,873.31 23,814,699.39 (512,963.01) (242490,883.55) (1,115,273.86) Payroll 23,910.27 - 4,415,067.00 (4,414,974.39) 24,002.88 Mast 4,059.70 100,54250 (99,600.00) (67.81) 4,934.39 Thomas Lee 83.48 - - - 83.48 Police Trust 42,532.35 3,81250 - (26,306.48) 20,043.37 Subtotal 144,459.11 23,919,059.39 3,802,503.99 (28,932,232.23) (1,066,209.74) Total Cash and Investments * includes gain/loss an maturity/disposal * accrual basis S 76,988,246.73 S 24,397,841.96 S - S (31,158,795.89) S 70,227,292.80 filemm�e s\„ccountmt\einde\amcl*I 3rd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2005 Reconciliation of Cash Disbursements: Accounts Payable Cash Disbursements April, 2005 Accounts Payable Cash Disbursements May, 2005 Accounts Payable Cash Disbursements June, 2005 Accounts Payable Cash Disbursements after .lune 30, 2005 Prior Quarter's Timing Items Voided Accounts Payable Checks Disbursements to Trustee - Recorded as a transter on page two Trustee Disbursements for Debt Service Payroll Cash Disbursements April, 2005 Payroll Cash Disbursements May, 2005 Payroll Cash Disbursements June, 2005 Payroll Cash Disbursements after .Tune 30, 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: March. 2005 Cash and Investments at the end of the quarter S 76,988,247 S Interest Received or Accrued from July 1 $ 1,062,546 S Estimated Average Interest Rate 2.54% 8,319,239.59 8.255.311.20 10,162,402.73 (39,037.53) (2,219,885.04) 2,220,391.90 1,865,636.27 1,278,834.97 1,270,592.05 (88.90) 7,806.28 10,329.62 956.27 26,306.48 31,158,795.89 June,2005 June,2004 70,227,293 $ 94,517,904 1,541,527 $ 1,835,071 2.96% 1.70% US T-bill 91 day Yield 2.80% 3.04% 1.29% alemm�e s\xmm0up4LWe\uanMla CITY OP PETALUNNLI, CA CITY TREASURER'S QUARTERLY REPORT Far the quarter ending June, 2005 Interfund Loans: Purpose Amount Loan To 1,274,686 Marina Fund 79,000 CDBG 1.325,000 Pnrks/Rec CIP Fund 31,519,000 CBD 40,000 Gen Govern CIP Fund 132,000 Police Grant Fund 112500 General Fund 34.482.186 _ Loan From Purpose PCD Low payments Housing in Lieu Cash flaw General Fund Cash flaw PCD Project Financing General Fund Cash flow General Fund Cash Flow Velticle/Equip Replace Purchase Parking - Enforcement Vehicles Current Period Interest I Year to Date InterestI Repayment Accrued Paid Accrued Paid Schedule 9,522 9,522 37,188 37,188 principal not scheduled - - - - when 6/30 /05 claim revenue received _ _ _ - when grant/donation revenue received 203,909 203,909 392,279 392,279 eliminate when project areas merge 299 299 2,690 2,690 when gnat revenue received - - - - when grant revenue received 840 840 840 840 over 18 months from ineremsed revenue Interfund loan interest calculation assumes that repayments are made the fust day ofihe quarter and loans are made the last day of the quarter.