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Home My WebLink AboutResolution 2006-172 N.C.S. 10/02/2006 Resolution No. 2006-172 N.C.S. of the City of Petaluma, California RESOLUTION TO REVIEW AND FILE THE JUNE 30, 2006 QUARTERLY CITY TREASURER'S REPORT WHEREAS, State Law requires that the City Council review the City's attached Treasl>rer'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. RETERENCE: 1 hereby certify the foregoing Resolution was introduced and adopted by the Approved as to Council of the City of Petaluma at a Regular meeting on the 2°~ day of October, ~ fo' Vt 2006, by the following vote: / , City Attor~y AYES: Mayor Glass, Harris, Healy, Vice Mayor Nau, O'Brien, Torliatt NOES: None ABSENT: None ABSTAIN: None ATTEST: ~f ' City Clerk Mayor Resolution No. 2006-172 N.C.S. Page 1 filename: s:\accountant\cinde\excel\tr\4th CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2006 Cash Activity forthe Quarter: Cash and Investments, beginning of the quarter $ 59,809,244 Cash Receipts 31,491,837 Cash Disbursements (27,890,686) Cash and Investments, end of the quarter $ 63,410,395 Cash and Investment Portfolio at June 30, 2006 Percent Fair Par Value of Current Value* (Cost) Portfolio Annual Yield Investments Managed by City Treasurer: AD 2000-2001 Bond 925,352 925,352 1.46% 6.00% Local Agency Investment Fund 6,538,352 6,550,090 10.33% 3.63% CA Asset Management Prog 21,788,488 21,788,488 34.36% 4.17% CAIVIP/Fed Agency/Core Securities 31,806,135 32,229,272 50.83% 3.47% Wells'Fargo Sweep Account 1,583,427 1,583,427 2.50% 3.08% Subtotal 62,641,754 63,076,629 99.47% Investments Managed by Trustees: CA Asset Management Prog 1,838,407 1,838,407 2.90% 4.17% Trustee Money Market Accounts 88,248 88,248 0.14% 3..51% Subtotal 1,926,655 1,926,655 3.04% Checking Accounts (1,592,889) (1,592,889) -2.51% Total Cash and Investments $ 62,975,520 $ 63,410,395 100.00% Cash =Sweep Account plus Checking Accounts (9,462) 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, 2006. The investments are in conformity with the Investment Policy as stated in Resolution Number 2004-020NCS, dated Janaury 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. r ; * adjusted to FV quarterly /S Steven Carmichael, Administrati e Services Director filename: s:\accountant\cinde\excel\tr\4th CITY OF PETALUMA, CA COST VS FAIR VALUE 3/31/2006 cost fv gain/(loss) Corporate Notes 484,820.00 481,934.00 (2,886.00) w/o ac int Federal Agency Bonds/Notes 24,449,310.98 24,133,637.08 (315,673.90) w/o ac int US Treasury Bonds/Notes 7,017,457.62 6,912,879.84 (104,577..78) w/o ac int 31,528,450.92 LAIF 6,469,927.24 6,458,189.63 (11,737.61) factor 0.998185821 City of Petaluma, California Cash/Investment by Type-June, 2006 Total Cash/Investments $63,410,395 Other Cash $925,352 -$9,462 1.46% -.O1% LAIF $6,550,090 10.33% CAMP $21,788,488 \ 34.36% CAMP Investments $32,229,272 50.82% Fiscal Agents $1,926,655 3.04% filenune: s:\accotmtant\cmde\excel\tr\4th CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2006 Beginning Irnd of Quarter Receipts*^ Transfers Disbursements of Quarter Investments Managed by City Treasurer: AD 2000-2001 Bond 925,351:72 - - - 925,351.72 LAIF 9,317,546.68 - (2,847,619.44) 6,469,927.24 LAIF accrued interest 152,380.56 80,162.67 (152,380.56) 80,162.67 CAMP AD accounts 375,649.08 4,537.65 - 380,186.73 CANII'-Treasurer's Investments 10,962,985.66 223,323.74 10,232,752.61 (10,760.70) 21,408,301.31 Federal Agency Bonds/Notes 22,943,832.35 (61,770.90) 1,567,249.53 24,449,310.98 Fed Agency accrued interest 206,932.25 234,353.65 (234,536.07) 206,749.83 US TreasuryBonds/Notes 8,514,996.68 (25,468.75) (1,472,070.31) 7,017,457.62 US Treasury accrued interest 80,462.51 72,200.48 (84,645.76) 68,017.23 Corporate Notes 484,820.00 - 484,820.00 Corporate Notes accrued interest 7,291.67 4,37499 (8,750.00) 2,916.66 Wells Fargo Sweep Account - 11,690.60 1,571,736.50 1,583,427.10 Subtotal 53,972,249.16 543,404.13 8,571,736.50 (10,760.70) 63,076,629.09 Investments Managed by Trustees: CAMP-AD accounts 503,314.35 6,079.78 - - 509,394.13 TP Morgan-AD accounts 40,420.17 394...21 - (0.02) 40,814.36 ~ CAMP-debt issue accounts 4,718,061.13 48,572.79 (3,437,620.99) - 1,329,012.93 US Bank First American Treas 34,136.79 356.88 (33,534.03) - 959.64 JP Morgan US Govely MM 65,661.68 1,360.37 1,544,675.21 (1,565,924.46) 45,772.80 Wells Fargo Goveni MM 71.82_ 253.24 527,457.56 (527,529.38) 253.24 Uluon Bank Blackrock 515.07 1.11.14 210,266.61 (210,444.83) 447.99 Subtotal 5,362,181.01 57,1.28.41 (1,188,755.64) (2,303,898.69) 1,926,655.09 Checking Accounts: GeneralOperatiug 412,474.06 30,768,059.23 (11,642,252.86) (21,213,497.69) (1,675,217.26) Payroll 23,723.36 - 4,361,272.00 (4,361,205.90) 23,789.46 Mast 1,542.14 121,661.32 (102,000.00) - 21,203.46 Thomas Lee 83.48 - - - 83.48 Police Trust 36,990.72 1,584.04 - (1,322.94) 37,251.82 Subtotal 474,813.76 30,891,304.59 (7,382,980.86) (25,576,026.53) (1,592,889.04) Total Cash and Investments $ 59,809,243.93 $ 31,491,837.13 $ - $ (27,890,685.92) $ 63,410,395.14 ^ includes gain/loss on mahidty/disposal * accrual Uasis filename: s9accountantbindeAexcel\tcWth CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2006 Reconciliation of Cash Disbursements: Accounts Payable Cash Disbursements April, 2006 8,307,056.09 Accounts Payable Cash Disbursements May, 2006 5,254,215.76 Accounts Payable Cash Disbursements June, 2006 14,060,778.33 .Accounts Payable Cash Disbursements after June, 2006 (4,114,472.50) Prior Quarter's 'Timing Items - Voided Accomlts Payable Checks (1,374.69) Disbursements to Trustee -Recorded as a transfer on page two (2,302,751.63) Trustee Disbursements for Debt Service 2,303,221.76 Payroll Cash Disbursements April, 2006 1,419,223.73 Payroll Cash Disbursements May, 2006 1,504,930.12 Payroll Cash Disbursements June, 2006 1,427,052.05 Payroll Cash Disbursements after June, 2006 10,000.00 Prior Quarter's Payroll 'I'imnlg Items - Voided Payroll :Checks - Bank/Trustee Fees/Cost of Issuance 21,483.96 Police Trust Cash Disbursements 1,322.94 Thomas Lee Charity Cash Disbursements - 27,890,685.92 Comparison of Current Investments to Prior Quarter/Prior Year (including gain/loss disposal): March, 2006 .June, 2006 Jwie, 2005 Cash and Investments at the end of the quarter $ 59,809,244 $ 63,410,395 $ 70,227,293 Interest Received or Accrued from July 1 $ 1,416,907 $ 1,966,534 $ 1,541,527 Estimated Average Interest Rate 3.64% 3.68% 2.51% US T-bill 91 day Yield 4.63% 4.84% 3.04% Cilmiarne: s.\accountarn\cin3e\excel\tr4Nh CITY OF PETALUMA, CA CITY TREASURER'S QUARTERLY REPORT For the quarter ending June, 2006 Interfmrd 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 Fund-PCDC Loan payments - 11,345 - 32,212 principal not scheduled 900,000 PCDC Funds General Fund Cash flow 8,010 8,010 when tax increment received in April 133,000 CDBG Fund Housing in Lieu Cash flow - - - - when grant revenue received 43,383 Gen Govern CIP Fwrd General Fund Cash Clow 383 - 769 - when grant revenue received 148,800 Police Grant Fund General Fund Cash flow - - - - when grant revenue received 45,000 General Fund Vehicle/Equip Replace Purchase parking - 401 - 1,702 over 18 months from increased revenue enforcement vehicles 381,000 Parks/Rec CIP Fund General Pund Cash flow - 3,391 - 16,029 when grant/donation revenue received 8,000 Gas Tax Fund Genera] Fund Cash flow - 71 - 71 when additional gas tax revenue received 20,000 Trans Occupancy Tax Fund General fund Cash flow - 178 - 178 when additional TOT revenue received 17,500 Fire CIP Fund General Fund Cash flow - 156 - 1~6 when additonal impaot fee revenue received 398,000 Ambulance Fund General Fund Cash flow - 3,542 - 3,542 when additional ambulance revenue received 60,000 Marina Fund General Fund Cash flow - 534 - 534 when additional marina revenue received 3,429,369 Interfund loan interest calculation assumes drat repayments are made the first day of the quarter and loans are made the last day of the quarter.