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Home My WebLink AboutAgenda Bill 3.G 10/04/2004CITY OF PETALUMA, CALIFORNIA AGENDA BILL 'OCT 4 2004 Agenda' Title Meeting Date: I Receive and File Quarterly Treasurer' s' Report October 4, 2004 Meeting Time 3:00 PM ❑ 7:00 PM Category (check one) [.Consent Calendar ❑ Public Hearing- ❑ New Business ❑ Unfinished Business ❑ Presentation Department Director Contact. Person Phone Number Finance oseph tter 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 June 30, 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 Finance Director /City Treasurer provides the City Council with a monthly Treasurer's Report that shows themarket value and the cost of all cash and jnvestments field 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 2004 - Treasurer's Report med by Finance Director: Reviewed 'by City Attorney Date: A roved b: City Manager: / Date: Date•. 1 ' CEP 2 4 T day's ate ". Revision # and. Date Revised: ' File Code: s:\accounfant \cinde \word \tr\agendabill W RESOLUTION TO REVIEW AND FILE THE JUNE 30 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 has reviewed said report and directs the City Clerk to file it. City of Petaluma, California Cash/Investment by Type - .Tune, 2004 Total Cash/Investments $94 Other LAW $15,176,621 25 % Federal. Agency $ecuritic $37,722;695 49% Cash $- .14.14 CAMP 1,23 °7;628 2% Fiscal. Agents $40,839,787 - 23% M filenamb:, s:\accountant\cinde \excel \tr\4th CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2004 Cash Activity for the Cash and Investments, beginning of the quarter Cash, Receipts Cash. Disbtirsements' Cash and Investments, end of the quarter $ 96,421,294 25,131,855 (27,035,245) $ 94,517,904 Cash and Investment Portfolio at June 30, 2004 I`certify that this report contains the total amOuntsz of cash and investments at June 30 ; 2004. The investments are in conformity with`the Investment' Policy as. stated in Resolution Number 2004- 020NCS dated February 23 2064. A copy of the:Investment- Policy as 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, Joseph D. Netter, Interim Finance 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 956,023 956,023 1.01% 3 6.00% Local Agency. Investment Fund 15,152,098 15,176,621 16.06% 1 1.44% CA Asset Management Prog 1,237;628 1,237,628. 1.31% 1 0.98% CAMP/Fed Agency Securities 36,556;629 37,722,695 39.91% 661 2.46% Wells Fargo. Sweep, Account 18539 1'8;539 0.02% 1 0.11% Subtotal 53,920;916 55,111,505 58.31 I ments Managed by Trustees: *Asset C Management Prog/Fed Securities 40,575,'678 40,629 Q61 42.99% 67 1.15% Trustee Money Market. Accounts 2 10,726 210, 0.22% 1 0.52% Subtotal 40 40,839;787 43.21% Checking Accounts (1,433,388) (1,433,388) -1.52% 1 Total Cash and Investments $ 93,273;932 $ 94;517,904 1,00.00.% Cash= Sweep Account plus Checking Accounts (1,414,849) Fair values were furnished by the State of California, Local Agency Investments and CAMP. I`certify that this report contains the total amOuntsz of cash and investments at June 30 ; 2004. The investments are in conformity with`the Investment' Policy as. stated in Resolution Number 2004- 020NCS dated February 23 2064. A copy of the:Investment- Policy as 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, Joseph D. Netter, Interim Finance Director CITY OF PETALUMA,. CA • CITY TREASURER'S QUARTERLY REPORT • For the' quarter ending June 2004 Beginning End of Quarter Receipts* Transfers Disbursements of Quarter Irivestments'Managed by 'City Treasurer: AD 2000 -2001 Bond 956;022.72 LocalAgericylmvestment.Fund 9,124,848.92 51,762.81 6,000;000:00` _ Local Agency Investment 2,243,50131 9.02 (2,243,501.51) - CA Asset'Management Prog 2,584,962.81 4,001:1,1 (1,342,344.15) (8,992.13) FHLB'Global;N6te,I 105 2,031,825.83 20,625.00 FHLMC Global Ref Note ,1/05 1,112,170.14 17,187.50 FHLB 2/05 903,794.25 4,218.75 FHLMCNotes 5105. 1,004,736,11 2,118.89 (1,006,855.00) - FHLMC , 'Global Ref Note 1/05` 1,084,641.78, 17,500.00 FHMA Benchmark'Note 10105 1,638,681.51 11,500.06 (23,000.00) - FNMA 1. Benchmark'Note 12/05 1,161,938`79 15;900.00, (31,800.00) - FHLMC Global Ref Note 1106' 2,189,744:79' 26;250.00 FHLB TAP Note-2/0'6 1,198,487;65 14,646.88 - FHLB TAP Note 2/06 - 5;541.66 1,010,235.56 FNMA'Benctimark.Note'2 /06 2,155,071.19 27,500:00 - FHLMC Global Ref Note 7/06 1,654,773.17 20,625.00 _ FHLB TAP Notes „, 8/06 1488;592.08 8906.25 FHLB TAP Notes /06 748,608.54 4,453.13 _ - MCGlobal,(callable),11' /06 1;524,550:00 11 (22,500.00) FHLMC Note (callable) 12'/06` 1,510,104.11 9;187.50 '(18,375.00) - FHLMC Note.(callable)' 12/06 1,092,6.13.84 6,645.63 (13,291.25) - FHLMC Ref Note: 12/06 '762,834.64 5,390:59 (12,63.8:02) - FHLB Bond (callable) 12/06 1,005,702.08 5 (11,100.00) - FHLB TAP Notes 2/06 1;143,588,56' 6,268:75 FNMA Noter2 /07 - 11,155.91 1,910,299.58 - FHL13.Note (callable) 6/07 875,438.96 6,584.3:7 US Treasury'NM.2 /05 1,037 6,786.13 (1,044,648:91) - US` Treasury Note 3/05. 998,950.65 4,914:83 (1,003,865.48) - US' Tieasury•Note 5/05 554,9.82.83 (13,345.60) (541;63,7.23 ) - US Treasury Note 6/05 999,973.72: (3,086.27) (996,827.45) , US Treasury. Note9 /,OS 1,152 ;836.22' 4,646.34 _ _ US Treasury Note 11105 1,406,253:22, 17,867.88 (35,937.50) _ US Treasury Note l7 /O5 1,505,057:3.1 6,992.83 (14,062 50) - US Treasury Note 2/06 1,000,006:79 4,018.35 US Treasury 'Note•5 /O6 .1,,172,822:37 11,091:01 (34,375.00), - US Treasury Now5 /06 355,771.04 1,740.17 (3,500.00) US Treasury`Note•6 /06 - 22.42' 299,882.81 - US Treasury Note 606 - - 901,227.41 - US Treasury Note5 /07 2,114.47 832,657.18 - US Treasury,Note 5/07 - 703.97 800,478.26 - Wells Fargo Sweep Account 987,484.70 243:29 (9,69,189.08). - Subtotal 52 ;369,175.67 365,988:57 2;385,332.72 - (81992.13) 956,022.72 15,176,,611 9.02 1,237,627.,64 2,052,450.83 1,129,357.64 908,013:00 1,10.2,141,78 1 1,146,038.79 2,215,994.79” 1,213,134.53 1,015,777.22 2,182,571.19 1 , 1,497,498. 753,06.1. 1,51'3,300.00 1,500,91b.67 1,085;968.22 755;587.21 1,000,152.08 1,150;357.31 1,921,455.49 882,023.33 1,157,482.56 1,388,183;60 1,497,987:64 1,004,025;1'4 1,155,538:38 354,01 ,1.21 299,905,.23 901,227.41' 834,771.65 801,182.23 Checking Accounts: General Operating Payroll Mast Thomas Lee Police Trust Subtotal &otal Cash and Investments ^ includes gain /loss on maturity/disposal * accrual basis 888;731,.54 CITY OF PET-ALUMA, CA CITY TREASURER'S QUARTERLY REPORT For;the quarter ending June .2064 (6,24.4, 16 5.13) (20,634,239.65) (1,478,809.91) Beginning: 4,171,952.00 End 23,744.17 of'Quarter Receipts *^ Transfers Disbursements of Quarter Investments Managed by Trustees: 8148 CA Asset - Management Prog/Fed Secu 42,922,470.30 123,888:12 (2,416;872.40) (425.01) 40,629,061.01 US Bank First American Treas 32: 36.27 24 9 641,650:54 (2,191,213;13) 32,830.13 JP Morgan US Govern MM 177;612.52 246.44 1,492 (1,492,613.00) 177,856.24 Wells Fargo Govern MM 9.14 25.23 511,294.61 (511,303.75) 25.23 Union Bank Blackrock 29:26 19.39 218,847.92 (218,882.27) 14.30 Subtotal 43;132 124,215.45 (194,119.59) (2 ;223,224.03) 40,839,786.91 Checking Accounts: General Operating Payroll Mast Thomas Lee Police Trust Subtotal &otal Cash and Investments ^ includes gain /loss on maturity/disposal * accrual basis 888;731,.54 24,51.0,863.33 (6,24.4, 16 5.13) (20,634,239.65) (1,478,809.91) 20;579.87 4,171,952.00 (4,168,787.70) 23,744.17 6,884.42 130,78'6.47 (119,000:00) 18,670.89 8148 83.48 2,922.72' 0.74 2,923.46 919,20103 24 9 641,650:54 (2,191,213;13) (24,803,027.35) (1,433,387.91) $ 96,421,292.78 $' 2$,;131,854:5.6 .'s - $ (27,035,243:51) $ 94,517,903.83 • CITY OF PETALUMA CA CITY TREASURERS QUARTERLY REPORT For the quarter ending June, 2004 ' Reconciliation of Cash Disbursements: Accounts Payable CashDisbursements April 20,04 Accounts Payable; Cash Disbursements May, 2004 Accounts. Payable Cash Disbursements June, 2004 Accounts Payable Cash Disbursements after June 30, 2004 Prior Quarters Cash;Disbursements- Recorded in current quarter VoidedAccounts:P,ayable Checks Check Written 'to Trustee- Recorded as a : transfer on page two Payment made by Trustees, on Debt Issues /RefundingHCost of Issuance Payroll Cash Disbursements April, 2004 Payroll Cash Disbursements May,:2004 Payroll Cash Disbursements June, 2004 Payroll Cash Disbursements -,after June 30, 2004 Prior.Quarter'sa?ayroll Disbursements- Recorded in current quarter Voided Payroll: Checks Credit Card, Fees BanKAMP Fees Net Trustee Fees Police Trust Casli Disbursements Thomas Lee Charity Cash' Disbursements. H .8,672' 6,827,72625 8;450;85232 626613.26, (1,415 ;286:53 (3.20;408.83); (2 2 .1,778,526 .1 ;066.54 1,205,355.26 (4;160.89) l 0,185.09 13 433,74 Comparison of.Current'Investments to, Prior Quarter.and to Prior Yea_ March, 2004 Cash and Investments at the end of the quarter $' 96,421,293 $ Interest. Received or Accrued from,July 1 $ 1,416 $ Estimated Average Interest Rate 1.64 % US T -bill 91 day Yield 0.93% 94,51,7 ;904 ;$ 81,762;31°1 'I 1,416,.346 $ 2,262,327 1.70% 2.72 % 1.29% 0 • .' . CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2004 Interfund loan interest calculation assumes °that repayments are made the first.day of the quarter and loans are made the last day of the quarter. Interfund Loans: Current Period'Interest Year to,Date Interest Repayment Amount - Loan To Loan From Purpose Accrued_ Paid Accrued Paid Schedule 1;274,686 Marina Fund PCD Loan payments - 2,153 23,198 principal not. scheduled 5 CBD PCD Project Financing - 9,296. - 60,726 as cash flow permits 125,000 CDBG Housing -in Lieu Cash flow - - -. when revenue received 2 CBD LMI Cash.flow - - - when bond draw proceeds received 65 ;000 Airport General Fund Cash flow - - _ as cash flow permits 1,010,000 Transit General Fund Cash flow - - - when grant revenue received 10;678.686 Interfund loan interest calculation assumes °that repayments are made the first.day of the quarter and loans are made the last day of the quarter.