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Home My WebLink AboutResolution 2007-100 N.C.S. 06/18/2007 Resolution No. 2007-100 N.C.S. of the City of Petaluma, California. RESOLUTION TO REVIEW AND FILE THE MARCH 31, 2007 QUARTERLY CITY TREASURER'S REPORT 1 ~ WHEREAS, 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: I hereby certify the foregoing Resolution was introduced and adopted by the ro~ed as to Council of the City of Petaluma at a Regular meeting on the 18`~ day of June, 2007, fo by the following vote: City t ey AYES: Barrett, Freitas, Harris, Vice Mayor Nau, O'Brien, Rabbitt, Mayor Torliatt. NOES: None ABSENT: None - ABSTAIN: None ~,rf r ATTEST: `~i l/~/Ti'~_ .-}•~~'Y '.t City Clerk M~yor Resolution No. 2007-100 N.C.S. Page 1 0 City of Petaluma, .Calif®rnia . Cash/Investment by 'Type-li!Iarch, 2007 Total Cash/Investments $5;2$1,672 Other Cash $858;292 $1,036;437 1.47% 1.78% LAIF $8,327,424 14.29% CAMP ~ - $14,571,668 . 25.0% . ,~.,k x Fiscal Agents $1,989,594 Federal Agency Securities ~ 3.41 $31,498,257 54.04% filename: s:\acen°mant`,cinde\excei~.r;?nd CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2007 Cash Activity for the Quarter: Cash and Investments, beginning of the quarter $ 64,743,765 Cash Receipts 23,633,423 Cash Disbursements (30,095,516) Cash and Investments, end of the quarter $ 58,281,672 Cash and Investment Portfolio at March 31,.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 1.47% 6.00% Local Agency Investment Fund 8,325,071 8,327,424 14.29% 5.17% CA Asset Management Prog 14,571,668 14,571,668 25.00% 5.22% CAMP/Fed Agency/Core Securities 31,525,949 31,498,257 54.04% 4.83% Sweep Accounts 742,011 742,011 1.27% 4.31 Subtotal 56,022,991 55,997,652 96.08% Investments Managed by Trustees: CA Asset Management Prog 1,801,940 1,80],940 3.09% 5.22°l0 Trustee Money Market Accounts 187,654 187,654 0.32% 4.98% Subtotal 1,989,594 1,989,594 3.41% Checking Accounts 294,425 294,425 0.51% Total Cash and Investments $ 58,307,011 $ 58,281,672 100.00% Cash =Sweep Account plus Checking Accounts 1,036,436 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 March 31, 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 filename: s:\accountant\cinde\excel\tr\1 st CTTY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 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 17,105,77995 - (8,915,274.97) - 8;190,504.98 LAIF accrued interest 84,725.03 136,9]8.93 (84,725.03) - 136,918.93 CAMP AD accounts 390,249.76 5,042.72 - - 395,292.48 CAMP-Treasurer's Investments 11,740,590.92 155,366.57 2,285,651.25 (5,233.05) 14,176,375.69 Federal Agency Bonds/Notes 20,620,391..13 ]4,094.45 742,489.40 - 21,376,974.98 Fed Agency accrued interest 190,273.60 258,431.61 (150,328.81) - 298,376.40 US Treasury BondsMotes 11,470,219.14 6,100.86 (3,219,880.15) - 8,256,439.85 US Treasury accrued interest 121,297.06 110,989.18 (]47,429.88) - 84,856.36 Corporate Notes 484,820.00 - 981,210.00 - 1,466,030.00 Corporate Notes accrued interest 2,916.66 4,375.01 8,288.19 - 15,579.86 Wells Fargo Sweep/Short term CD - 6,046.49 88,445.84 - 94,492.33 Exchange Bank SweepBlackrock (0.00) - 647,5]8.23 - 647,518.23 Subtotal 63,069,555.62 697,365.82 (7,764,035.93) (5,233.05) 55,997,652.46 Investments Managed by Trustees: CAMP-AD accounts 522,877.1 ] 6,756.49 - - 529,63.3.60 JP Morgan-AD accounts 255.42 66.39 (321.81) - - US Bank-AD Accounts 121.92 200.02 78,235.81 (49,085.00) 29,472.75 CAMP-debt issue accounts 1,364,190.13 16,708.68 (108,592.05) - 1,272,3011.76 US Bank First American Treas 47,991.38 561.48 - - 48,552.86 Wells Fargo Govern MM 121:79 1.45 - - 123.24 Union Bank Blackrock 502.54 431.29 120,122.05 (11,551:22) 109,504.66 Subtotal 1,936,060.29 24,725.80 89,444.00 (60,636.22) 1,989,593.87 Checking Accounts: WF-General Operating (345,539.77) 13,931,757.13 3,628,561.47 (17,303,072.77) (88;293.94) Exchange-General Operating - 8,921,170.21 (1,218,752.93) (7,379,064.42) 323,352.86 WF-Payroll 23,752.79 - 3,838,594.00 (3,838,313.65) 24,033.14 Exchange-General Operating - - 1,492,106.00 (1,492, 103.19) 2.8 ] Mast ~ 8,723.98 57,192.63 (65,916.61) - - Thomas I.ee 435.53 - - - 435.53 Police Trust 50,776.48 1,211..10 - (17,092.50) 34,895.08 Subtotal (261,850.99) 22,911,331.07 7,674,591.93 (30,029,646:53) 294,425.48 Total Cash and Investments $ 64,743,764.92 $ 23,633,422.69 $ - $ (30,095,515.80) $ 58,281,671.81 ^ includes gain/loss on maturity/disposal accrual basis filename: s:\accountant\cinde\escel\tr\1 st CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2007 Reconciliation of Cash Disbursements: Accounts Payable Cash Disbursements January, 2007 9,363,425.44 Accounts Payable Cash Disbursements February, 2007 7,034,103.07 Accounts Payable Cash Disbursements March, 2007 8,364,871.38 Accounts Payable Cash Disbursements after March,-2007 - Prior Quarter's Timing Items - Voided Accounts Payable Checks (3,667.57) Disbursements to Exchange Bank -Recorded as a transfer on page two (871.30) Disbursements to Trustee -Recorded as a transfer on page two (89,444.00) Trustee Disbursements for Debt Service 60,615.00 Payroll Cash Disbursements January, 2007 1,517,831.80 Payroll Cash Disbursements February, 2007 1,530,067.28 Payroll Cash Disbursements March, 2007 2,282,752.50 Payroll Cash Disbursements after March, 2007 - Prior Quarter's Payroll Timing Items - Voided Payroll Checks (235.74) Bank/Trustee Fees/Cost of Issuance 18,975.44 Police Trust Cash Disbursements 17,092.50 Thomas Lee Charity Cash Disbursements - 30,095,515.80 Comparison of Current Investments to Prior Quarter/Prior Year (including gain/loss disposal): December, 2006 March, 2007 March, 2006 Cash and Investments at the end of the quarter $ 64,743,765 $ 58,281,672 $ 64,175,643 Interest Received or Accrued from July 1 $ 1,257,504 $ 2,006,490 $ 910,496 Estimated Average Interest Rate Short-term Invest 5.01 % 5.02% 3.56% US T-bill 91 day Yield 4.97% 5.00% 3,97% Monthly Yield to Maturity Mid-Term Portfolio 4.82% 4.83% Monthly Yield Merrill Lynch 1-3 Year UST index 4.86% 4.70% filename' s'\accountant\cinde\excel\tr\lst CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending March, 2007 Interfund Loans: Amount Loan To Loan From Purpose 12/31 interest YTD interest Repayment Schedule 133,000 CDBG Fund Housing in Lieu Cash flow - - when grant revenue received 92,800 Public Facilities Impact Fee Fund General Fund Cash flow 1,233 3;290 when additional impact fee revenue received 109,500 Police Grant Fund General Fund Cash flow - - when grant revenue received 17,000 Parks/Rec CIP Fund General Fund Cash flow 226 ?,046 when grant/donation revenue received ~ 496,400 Ambulance Fund General Fund Cash flow 6,596 14,822 06-07 budget expense> revenue w 848,700 i,. F, I~ Interfund loan interest calculation assumes that repayments are made the first day of the quarter and loans are made the last day ot'the quarter.