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Home My WebLink AboutResolution 2007-172 N.C.S. 10/01/2007 Resolution No. 2007-172 N.C.S. of the City of Petaluma, California RESOLUTION TO REVIEW AND FILE THE .TUNE 30, 2007 QUARTERLY CITY TREASURER'S REPORT WIFIEREAS, State Law requires that the City Council review the City's attached 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. Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: [hereby certify the foregoing Resolution was introduced and adopted by the Ap o ed as to Council of the City of Petaluma at a Regular meeting on the 1 S' day of October, f 1: 2007, by the following vote: Ci Attorney AYES: Barrett, Freitas, Harris, Vice Mayor Nau, O'Brien, Rabbitt, Mayor Torliatt NOES: None ABSENT: None ABSTAIN: None i ATTEST: / .f City Clerk Ma, or Resolution No. 2007-t72 N.C.S. Page 1 CITY OF PETALUMA, CA COST VS FAIR VALUE 3/31/2007 cost fv gain/(loss) Corporate Notes 6,531,279.00 6,509,988.07 (21,290.93) w/o ac int Federal Agency Bonds/Notes 21,044,150.63 20,991,965.96 (52,184.67) w/o ac int US Treasury Bonds/Notes 4,818,102.15 4,789,045.01 (29,057.14) w/o ac int 32,290,999.04 LAIF 7,427,868.04 7,424,488.52 (3,379.52) factor 0.999545022 Resolution No. 2007-172 N.C.S. Page 2 City of Petaluma, California Cash/Investment by 'T'ype-June, 2007 Total Cash/Investments $96,929,350 Other $858,292 Cash .89% LAIF $2,806,210 $7,427,868 2.89% ~ 7.66% CAMP $20,694,002 0 21.35% N O O J N Federal Agency/Core z Securities $32,817,121 33.86% Fiscal Agents $32,325,858 33.35% W filename: s:\accountant\cinde\excel\n\2nd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2007 Cash Activity for the Quarter: Cash .and Investments, beginning of the quarter $ 58,281;672 Cash Receipts 71,865,448 Cash Disbursements (33,217,769) Cash and Investments, end of the quarter $ 96,929,351 Cash and Investment Portfolio at June 30, 2007 Percent Fair Par Value of Current Value* (Cost) Portfolio Annual Yield Investments Managed by City Treasurer: AD 2000-2001 Bond 858,292 858,292 0.89% 6.00% Local Agency Investment Fund 7,424,489 7,427,868 7.66% 5.23% CA Asset Management Prog 20,694,002 20,694,002 21.35% 5.21 % CAMP/Fed Agency/Core Securities 32,714,588 32,817,121 33.86% 5.06% Sweep Accounts 3,677,527 3,677,527 3.79% 4.68% Subtotal 65,368,898 65,474,810 67.55% Investments Managed by Trustees: CA Asset Management Prog 32,177,386 32,177,386 33.20% 5.21% Trustee Money Market Accounts 148,471 148,471 0.15% 4.48% Subtotal 32,325,858 32,325,858 33.35% Checking Accounts (871,317} (871,317) -0.90% Total Cash and Investments $ 96,823,438 $ 96,929,351 100.00% Cash =Sweep Account plus Checking Accounts 2,806,210 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, 2007. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS, dated January 24, 2005. 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 FV quarterly Steven Carmichael, Administrative Services Director Resolution No. 2007-172 N.C.S. Page 4 filename: s:Aaccomllaut\cnide\excelAtrU st CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, .2007 Beginning End of Quarter Receipts*^ Transfers Disbursements of Quarter Investments Managed by City Treasurer: AD 2000-2001 Bond 858,292.37 - - - 858,292.37 LAIF 8,190,504.98 - (762,636.94) - 7,427,868.04 LAIF accrued interest 136,918.93 100;444.13 (237,363.06) - - CAMP AD acwunts 395,292.48 5,149.62 - - 400,442.10 CAMP-Treasurer's Investments 14,176,375.69 264,083.50 5,861,349.81 (8,248.96) 20,293,560.04 Federal AgencyBonds/Notes 21,376,974.98 (15,485.75) (317,338.60) . - 21,044,150.63 Fed Agency accrued interest 298,376.40 269,719.25 (296,598.12) - 27.1,497.53 US TreasuryBonds/Notes 8,256,439.85 3,993.55 (3,442,331.25) - 4,818,102.15 US Treasury accrued interest 84,856.36 63,803.01 (106,579.63) - 42,079.74 Corporate Notes 1,466,030.00 - 5,065,249.00 - 6,531,279.00 Corporate Notes accrued interest 15,579.86 58,182.99 36,248.79 - 110,011.64 Wells Fargo Sweep/Short term CD 94,492.33 924.07 (95,416.40) - (0.00) Exchange Bank SweepJBlackrock 647,518?3 13,863.59 3,016,144.96 - 3,677,526.78 Subtotal 55,997,652.46 764,677.96 8,720,728.56 (8,248.96) 65,474,810.02 Investments Managed by Trustees: CAMP-AD accounts 529,633.60 6,899.74 - - 536,533.34 US Bauk-AD Accounts 29,472.75 336.52 - - 29,809.27 CAMP-debt issue accounts 1,272,306.76 30,368,546.24 - - 31,640,853.00 US Bank First American Treas 48,552.86 2,046.75 2,196,486.44 (2,129,158.41) 117,927.64 Wells Fargo Govern MM 123..24 284.10 534,841.14 (534,964.38) 284.10 Union Bank Blackrock 109,504.66 715.54 96,297.96 (206,067.72) 450.44 Subtotal 1,989,593.87 30,378,828.89 2,827,625.54 (2,870,190.51) 32,325,857.79 Checking Accounts: WF-General Operating (88,293.94) 565,246.81 (556;727.01) 79,774.14 (0.00) Exchange-General Operating 323,352.86 40,138,258.19 (15,559,584.98) (25,832,783.60) (930,757.53) WF-Payroll 24,033..14 - (27,513.11) - (3,479.97) Exchange-General Operating 2.81 - 4,594,679.00 (4,574,676.70) 20,005.11 Thomas Lee 435.53 - 792.00 - 1,227.83 Police Trust 34,895.08 18,436:01 - (11,643.30) 41,687.79 Subtotal 294,425.48 40,721,941.01 (11,548,354.10) (30,339,329.46) (871,317.07) Total Cash and Investments $ 58,281,671.81 $ 71,865,447.86 $ (0.00) $ (33,217,768.93) $ 96,929,350.74 ^ includes gain/loss on maturity/disposal * accmal basis Resolution No. 2007-172 N.C.S. Page 5 filenaccw: s::accountant\cuideAexcel~IrUst CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2007 Reconciliation of Cash Disbursements: Accounts Payable Cash Disbursements April, 2007 10,178,498.29 Accounts Payable Cash Disbursements May, 2007 9,196,373.87 Accounts Payable Cash Disbursements June, 2007 9,381,837.06 Accounts Payable Cash Disbursements after June, 2007 - Prior Quarter's Timing Items - Voided Accounts Payable Checks (81,048.81) Disbursements to Trustee -Recorded as a transfer on page two (2,937,238.09) Trustee Disbursements for Debt Service 2,870,155.30 Payroll Cash Disbursements April, 2007 1,497,888.42 Payroll Cash Disbursements May, 2007 1,509,484.90 Payroll Cash Disbursements June, 2007 1,567,434.93 Payroll Cash Disbursements after June, 2007 - Prior Quarter's Payroll Timing Items - Voided Payroll Checks (13 L55) Bank/Trustee Fees/Cost of Issuance 22,871.31 Police Trust Cash Disbursements 11,643.30 Thomas Lee Charity Cash Disbursements - 33,217,768.93 Comparison of Current Investments to Prior Quarter/Prior Year (including gain loss disposal): March, 2007 June, 2007 Jw~e, 2006 Cash and Investments at the end of the quarter $ 58,281,672 $ 96,929,351 $ 63,410,395 Interest Received or Accrued from July 1 $ 2,006,490 $ 3,150,156 $ 1,966,534 Estimated Average Interest Rate Short-terns Invest 5.02% 5.10% 4.52% US T-bill 91 day Yield 5.00% 4.77% 4.82% Monthly Yield to Maturity Mid-Tenn Portfolio 4.83% 5.27% Monthly Yield Merrill Lynch 1-3 Year UST Index 4.70% 4.94% Resolution No. 2007-172 N.C.S. Page 6 filename: s:\accountant\cmde\excel\tr\Is[ CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2007 Interfund Loans: Amount Loan To Loan From Purpose. 12/31 interest YTD interest Repayment Schedule 76,000 CDBG Fund Housing in Lieu Cash flow - - when grant revenue received 67,800 Public Facilities Impact Fee Fund General Fund Cash flow 899 4, ] 89 when additional impact fee revenue received 83,500 Police Grant Fund General Fund Cash flow - - when giant revenue received 541,400 Ambulance Fund General Fund Cash flow 6,579 21,401 06-07 budget expense> revenue 56,000 Marina Fund General Fund Cash tlow - - 06-07 budget expense> revenue 824,700 hiterfund loan interest calculation assumes that repayments are made the first day of the quarter and loans are made the last day of the quarter. n -o m ao