HomeMy WebLinkAboutAgenda Bill 2.I 03/03/200319% 4 VM 1 b
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CITY OFPETALUMA,'CALIFORNIA
AGENDA BYL
Agenda Title
Meeting Date:
Receive and File Quarterly Treasurer's Report
March 3, 2003
Department
Director
Contact Person
Phone Number
Finance
William J. Thomas
Cinde Rubaloff
778 -4357
Cost of Proposal An estimated $150 to cover staff time to produce
Account Number
the report
# 16,10
Amount Budgeted Staff cost included in overall Finance
Name of Fund:
Department Budget
General Fund
Attachments to Agenda Packet'Item
Resolution Filing Quarterly Treasurer's Report
December 31, 2002 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 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 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 Statelaw.
Council Priority 'TI-II5 AGENDA ITEM IS CONSIDERED TO BE PART OF, OR N ECESSARY To, ONE OR
M ORE OF TBE 2001 PRIORrrms E STABLISHED B Y THE CITY'COUNCIL ON JULY 21, 2001.
Priority(s):
Recommended City .Coun`ci1 Action /Suggested Motion
To approve resolution to receive and .file. December 31, 2002 Treasurer's Report
Reviewed by Finance Director:
Reviewed by City Attorney
Date:
AvDroved,bX City Manager:
Date:
Date:
Today's Date
Revision #.and Date Revised:
File Code:
#
S:accountant/Cinde /tr /dectr
CITE' OF PETALUMA, CALIFORNIA
AGENDA REPORT
FOR
MARCH 3, 2003
i QUARTERLY TREASURER'S REPORT
1. EXECUTIVE SUMMARY
State law requires all `local agencies to file reports on the status of their investment portfolios
with their City Council and City Manager. The Finance 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
quarterly 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. This was done at the February 3, 2002 Council meeting. The City's
investment practices comply with the approved City Investment Policy and with the
requirements of State law.
2. BACKGROUND
The Treasurer's. Report for the .qu_arter ,ending December 31, 2002 is attached. This- report is
submitted to the City'Manager each month, and presented at a public meeting each quarter. The
report presents the investment type, issuer, maturity, market value : and- dollar amount for the total
amount of monies held by the City of Petaluma, The report also presents all monies held and
managed by the City's fiscal agents. Fiscal agents hold and manage money that comes from debt
issued by the City of Petaluma. The,.report includes :a citation of compliance with the adopted
Investment Policy, and a statement of the ability to meet expenditure requirements for the next
six months.
This report also includes a schedule that shows the change in amounts of all cash and
investments from the prior quarter. A detailed list of the City's disbursements is presented along
with comparisons of investment amounts and interest earnings from `the prior quarter and the
same quarter in the prior year.
3. ALTERNATIVES
None, submission of the quarterly report is a requirement of State Law
4. FMANCIAL LWPACM
The Quarterly Treasurer's Report represents normal finance department work product.
5. CO NCLUSION `.
The Quarterly Treasurer's Report presents the financial transactions for the quarter ending
December 31, 2002.
6. OUTCOMES OR PERFORMANCE MEASUREMENTS THAT`WILLJDENTIEY SUCCES&OF
compLETION:
NA
7. RECOMMENDATION
Adopt the resolution.
�u.
"
RESOLUTION TO REVIEW AND FILE THE
DECEMBER 31,2002 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 Clerk to file it.
Ll
0
Cash activity for the quarter
Cash and Investments, Beginning of the Month
Cash`Receipts
Cash Disbursements
Cash and Investments, End of the Quarter
$ 74,767,856
15,121,148
(6,056,326)
$ 83,832,677
Cash and Investment Portfolio at December 31, 2002
Investments Managed by City Treasurer:
AD 2000 -2001 Bond
Local Agency Investment Fund
Wells Fargo /Government Money Market
Wells Pargo/Federal Agency Securities
CA AssetManagement Program
CAW/Federal Agency Securities
0 Fargo Sweep Account
Subtotal
Investments Managed by Fiscal,Agents:
CA Asset Management Program
US Bank/First Am Treas. Obligations
JP Morgan/US Govern Money Market
Wells Fargo Govern Money Market
Union Bank/Blackrock Prov Fund
Subtotal
Checking Accounts
Total Cash and Investments
-CITY OF PB+ TALUNIA, CA
CITY TREASURER'S MONTHLY REPORT
For the quarter ending December, 2002
Percent Weighted
Fair Par' Value „ of Days to Current
Value* ((ost) .Portfolio Maturity Annual Yield
984;933
984,933
1.17%
261
1.38%
40,806,481
40,642,708
48.48%
1
2.31%
101
101
0.00%
1
0.83%
1,017,913
1,004,010
1.20%
1,527
6.36%
2;061,218
2
2.46%
1
1.38%
1.5,906,382
15,629,591
18.64%
545
3.90%
5,13,744 ,
5.13,744
0.61%
1
0.20%
61,290
60,836,304
72.57%
22,227,939
22,179,982
26.46%
261
1.38%
80,352
80,352
0'.10%
1
0.80%
49;047
49,047
0J06%
1
1.01%
596
596
0.00%
1
0.83%
6 ; 608
6,608
0';01%
1
1.05%
22;364,541
22,316 84
.26.62%
679,788
679,788
0.81 %
1
84,335,101
'83,832,677
100.00% .
Fair Values were famished by the State of California, Local Agency. Investments and Wells' Fargo Securities.
I certify that this report contains the total - amounts of cash and investments at December 31,2002.
The investments are in conformity "with the Investment Policyas stated in.Resolution Number 2602- 036NCS, dated
February 25, 2002. A copy of the,.Investment.Policy is available for review in the Finance Department.. The
CjlKre s u er's cash management program provides sufficient liquidity to meet expenditure requirements for
* adjusted to FV quarterly
-- ;- ►,
William J. Thomas, Aeasurer
CITY OYPETALUMA, CA
CITY'TREASUREkS`MONTHLY REPORT
For the quarter ending December, 2002
Cash activity for the quarter
22,144
35,950.03
(315.11)
22,179;982.33
Beginning
.80
59.28
End of
of Month
Receipts*
Disbursements
Month
Investments Managed by City Treasurer:
(0.01)
49,046.83
Wells Fargo-Money-Market
594.94
Cash and Investments,.End.ofthe Quarter
984,933.08
•
595:53
984,933.08
Local Agency Investment Fund
26,781,316.22
174,554.59
9,000,000.00
35,955
Local Agency Investment'Fund
4,659,702.59
27,134.32
(543.49)
4,686;836.91
WF -FNM 6/06
1
5
(28,900.00)
1,004
WF- Government Money. Market
100.84
1.50
(1.43)
100.91
CA Asset Management Program
2,024,136.05
2,395.91
36,000.00 (1;313:89)
2
CA -FBLMC Global ,Ref Note 11%03
2,096,291.67
10,625.00
39245.34
2,106,916.67
CA -FBLMC GlobafRef Note 1/04
1,467,181.64
5,833.34
(2,336.77)
1,473;014.98
CA -FFCB Notes,2 /04
1,017,200.00
3,750.00
1,020;950:00
CA -FNMA Benchmark'Note 4/04
2,015,670.14
6
i1.08
2,021,711.81
CA- FBLB.Note•6 /04,
2,077,845:00
5
(36,000.00)
2;047,470.00
CA -FBLMC Global Ref Note 7/04
1,066,462.67
5,208.33
1071,671.00
CA -FNMA BenchmarkNote 8/04
1,620,583.33
8,125.00
1,628,708.33
CA -FNMA Benchmark Note 8/04
1 &:89
5,416.67
1,104,555:56
CA- FBLRGlobal 1/05
2,045,575.83
6,875.00
2,052;450.83
CA -FHLMC Global.Ref Note 7/05
1,096,308:44'
5,833.34
1,102,141.78
Wells Fargo Sweep Account
1,155;978.74
178.02
(642,413:02) _
513;743.7..
Subtotal
52,235503.11
273,429.71
8 (1.313.89)
'60:836:304:
Investments Managed by Fiscal.Agents:
CA Asset,ManagementProgram
22,144
35,950.03
(315.11)
22,179;982.33
US Bank/First, Am Treas Obligations
.80
59.28
Camp Account - Federal Home Loan Mo rtgage Corp Global Reference Note
80
JP Morgan/Chase
'48,998.02.
48:82
Camp Account-Federal Home Loan Note .
(0.01)
49,046.83
Wells Fargo-Money-Market
594.94
0.59
•
595:53
Union Bank/Blackrock Prov Fund
7,145.54
7.10
(54149)
(1.37)
6
Subtotal
22,281,378.30
36,065.82
(543.49)
(316.49)
22;316
Checking Accounts:
General Operating
175,948.11
.14,650539.19
(9,453
(4
603
Payroll
28,175.15
1,293
(1
39245.34
Mast
43,650.69
161,11'1.73
(,168,000.00)
(2,336.77)
34;425.65
Thomas Lee
283.82
(100.00)
183.82
Police Trust
2,916:70
i1.08
1917:78
Subtotal
256,974.47
14
(8,328
(6;054;695.91)
679;788.50
Total Cash.and Investments 74 15,121,147.53
- (6,056,326.29) 83,832;671.12.
Legend:
WF -FNM
Wells Fargo Account- Federal National Mortgage Association Notes
CA•FHLMC Global Ref Note
Camp Account - Federal Home Loan Mo rtgage Corp Global Reference Note
CA -FFCB Notes
Camp Accour¢- Federal FamrCredit Bks Cons Note
CA -FHLB Note
Camp Account-Federal Home Loan Note .
CA -FNMA Benchmark
Camp Account - Federal National Mortgage Association Benchmark Notes
"
•
accrual.basis
2
CITY PETALUMA, CA
CITY TREASURER'S MONTHLY REPORT
Fouthe quarter ending December, 2002
Cash activity for the quarter
Reconciliation of Cash, Disbursements
Check Register - Demand Date 12 /6/02
2,065,124.94
Check Register - Demand Date 1- 2/20/02
2,560,672.57
Cash and Investments, End of the Quart(12 /20/02
915,266.16
Prior Month's Cash Disbursements` Recorded in Current Month
(653,765.42)
Voided Checks
(117,767.05)
Check. Written to Trustee - Recorded as a Transfer on Page Two
-
Payment made by Trustees on City Debt Issues
-
Fiscal Agent Fees
Payroll Cash Disbursements 12/13/02
728,778.40
Payroll Cash Disbursements 12/27102
564,308.95
Payroll Cash Disbursements .after 12/27/02
-
Prior Month's Payroll Disbursements Recorded in Current Month
(11,069.54)
Voided Payroll Checks
-
Credit Card Fees
2,336.77
Bank/CAW Fees Net
2,340.51
Cash Disbursements
lk Trust
s Lee Charity, Cash Disbursements
100.00
6,056,326.29
Comparison of Current Investments to prior quarter and to prior year
Cash and Investments at the end of the month
Interest Received or Accrued from July 1
Estimated Average. Interest Rate
US T -bill 91 day Yield.
0
September, 2002 December,;2002 December, 2001
$ 78,209,384 $ 83;832,677 $ 79,086,923
$ 669,494 $ 1,134,250 $ 1,484,997
1.82% 1.61% 3.04%
1.61% 3.20 %0 1.65 %
3
City of Petaluma, California
Cash/Investment by Type - December, 2002
Total Cash /Investments $83,832,677
Other
$984
19
LAN
$40,642
49%
CAMP
d1n nc1218
0
seal Agents
22,316, 584
27%
Agency Securities
$16,633,601
20%
Cash
$1,1.93,633
1%
CITY OF PETALUMA, CA
CITY TREASURER'S MONTHLY REPORT
For the quarter ending December, 2002
Cash activity for the quarter
Current Period Interest
Year to Date Interest
Repayment
Interfund Loans
Amount Loan To
Loan From
Purpose
Accrued
Accr
Paid
Accrued
Paid
Schedule
27,000
Marina Fund
General Fund
Cash flow
30.27
30.27
107
107
as cash flow permits
1,274,685
Marina Fund
PCDC
Loan payments
1,428.94
1,428.94
4,472
4,472
no repayment anticipated
30,763
Airport Operations
Waste Pollution Fund
Sewer lines to airport
34.49
34.49
108
108
per amortization schedule
54,920
Airport Operations
Water Utility Fund
Water lines to airport.
61.57
61.57
193
193
per amortization schedule
270,810
TOT
General.Fund
Cash flow
109.65
109.65
143
143
as cash flow permits
304,700
CDBG
Home/Begin Fund
Cash flow
-
-
-
-
as cash flow permits
1,962
04 •i