HomeMy WebLinkAboutResolution 2006-138 N.C.S. 08/07/2006 Resolution No. 2006-138 N.C.S.
of the City of Petaluma, California
RESOLUTION TO REVIEW AND FILE THE
MARCH 31, 2006 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, attached as Exhibit A, 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 Appro as o
Council of the City of Petaluma at a Regular meeting on the 7°i day of August, orn ;
2006, by the following vote:
City Att ey
AYES: Flarris, Nealy, Vice Mayor Nau, O'Brien, Torliatt
NOES: None
ABSENT: Mayor Glass
ABSTAIN: None
ATTEST: a'~'t~~^'
City Clerk Vice yor
Resolution No. 2006-138 N.C.S. ~ Page 1
Katy of Petaluma, C;al~fornia
Cash/fnvestment by Type-I~aIl-ch, 2006
Total dash/~ovestments ~59,~09,244
Other Cash
$925,352-~. $474,814
0 1.55% \ ~ .79%
o~ ~ ~
z
0
N
O
O
LAIF 4 ~'A.MP
z $9,469,927- l' ' --$11,338,635 ~
15.83% ~ - 18.96%
D
\ Fiscal Agents
- $5,362,181
j 8.97%
i
CAMP Investments j/
$32,238,335 J '
53.9%
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CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending March, 2006
Cash Activity for the Quarter:
Cash and Investments, beginning of the quarter $ 64,175,643
Cash Receipts 19,827,522
Cash Disbursements (24,193,921)
Cash and Investments, end of the quarter $ 59,809,244
Cash and Investment Portfolio at March 31, 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 1.55% 6.00%
Local Agency Investment Fund 9,447,128 9,469,927 15.83% 3.63%
CA Asset Management Prog 11,338,635 11,338,635 18.96% 4.17%
CAMP/Fed Agency/Core Securities 31,813,332 32,238,335 53.90% 3.47%
Wells Fargo Sweep Account - - 0.00% 3.08%
Subtotal 53,524,446 53,972,249 90.24%
Investments Managed by Trustees:
CA Asset Management Prog 5,221,375 5,221,375 8.73% 4.17%
Trustee Money Market Accounts 140,806 140,806 0.24% 3.51%
Subtotal 5,362,181 5,362,181 8.97
Checking Accounts 474,814 474,814 0.79%
Total Cash and Investments $ 59,361,441 ~ 59,809,244 100.00%
Cash =Sweep Account plus Checking Accounts 474,814
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, 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.
* adjusted to FV quarterly
S~
Steven Carmic 1, Administrative Services Director
Resolution No. 2006-138 N.C.S. Page 3
CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending March, 2006
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 Fund-PCDC Loan payments - 11,345 - 32,212 principal not scheduled
- CBD Fund-PCDC PCD Fund-PCDC Cash flow 280,581 - 280,581 - when project areas merged
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
0
0 43,383 Gen Govern CIP Fund General Fund Cash flow 383 - 769 - when grant revenue received
0 148,800 Police Grant Fund General Fund Cash flow - - - - when grant revenue received
i.
45,000 General Fund Vehicle/Equip Replace Purchase pazking - 401 - 1,702 over 18 months from increased revenue
eriforcement vehicles
381,000 ParkslRec CIP Fund General Fund Cash flow - 3,391 - 16,029 when grant/donation revenue received
8,000 Gas Tax Fund General 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 - 156 when additional impact fee revenue received
398,000 Ambulance Fund General Fund Cash flow - 3,542 - 3,542 when additional ambulance revenue received
60,000 Mazina Fund General Fund Cash flow - 534 - 534 when additional mazina revenue received
3,429,369
Interfund loan interest calculation assumes that repayments are made the first day of the quarter and loans aze made the last day of the quarter.
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CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending March, 2006
Beginning End
of Quarter Receipts*^ Transfers Disbursements of Quarter
Investments Managed by City Treasurer:
AD 2000-2001 Bond 925,351.72 - - - 925,351.72
LAIF 23,195,476.96 - (13,877,930.29) - 9,317,546.67
LAIF accrued interest 122,069.71 152,380.56 (122,069.71) - 152,380.56
CAMP AD accounts 371,632.93 4,0]6.15 - - 375,649.08
CAMP-Treasurer's Investments 1,563,609.74 79,266.12 9,323,103.69 (2,993.89) 10,962,985.66
Federal Agency Bonds/Notes 22,142,811.54 (91,217.07) 892,237.88 - 22,943,832.35
Fed Agency accrued interest 124,530.63 203,511.94 (121,110.32) - 206,932.25
US Treasury Bonds/Notes 8,596,184.18 (36,240.22) (44,947.28) - 8,514,996.68
US Treasury accrued interest 54,438.08 75,308.40 (49,283.97) - 80,462.51
Corporate Notes . 484,820.00 - - - 484,820.00
Corporate Notes accrued interest 2,916.67 4;375.00- - - 7,291.67
Wells Fargo Sweep Account 1,364,607.98 6,107.23 (1,370,715.21) - -
Subtotal 58,948,450.14 397,508.11 (5,370,715.21) (2,993.89) 53,972,249.15
Investments Managed by Trustees:
CAMP-AD accounts 497,933.29 5,381.06 - - 503,314.35
JP Morgan-AD accounts 6,672.97 60.79 91.,901.41 (58,215.00) 40,420.17
CAMP-debt issue accounts 5,287,366.51 50,796.69 (620,102.07) 4,718,061.13
US Bank First American Treas 33,828.86 307.93 135,524.38 (135,524.38) 34,.136.79
JP Morgan US Govern MM 65,054.10 607.58 - - 65,661.68
Wells Fargo Govern MM 71.15 0.67 - - 71.82
Union Bank Blackrock 404.94 350.52 13,726.53 (13,966.92) 515.07
Subtotal 5,891,331.82 57,505.24 (378,949.75) (207,706.30) 5,362,181.01
Checking Accounts:
General Operating (731,356.31) 19,307,991.07 1,046,489.96 (19,210,650.66) 412,474.06
Payroll 23,718.91 - 4,769,975.00 (4,769,970.55) 23,723.36
Mast 4,050.17 64,291.97 (66,800.0.0) - 1,542.14
Thomas Lee 83.48 - - - 83.48
Police Trust 39,364.43 225.47 - (2,594.18) 36,990.72
Subtotal (664,139.32) 19,372,508.51 5,749,664.96 (23,983,220.39) 474,813.76
Total Cash and Investments $ 64,175,642.64 $ 19,827,521.86 $ - $ (24,193,920.58) $ 59,809,243.92
^ includes gain loss on maturity/disposal
* accrual basis
Resolution No. 2006-138 N.C.S. Page 5
Retail of Securities Meld: 12511505 CAMP-CITYOF'PETALGIiV1A (531-00)
(Excluding Cash) MONTH ENDED; March 31, 2006
SECURITY TYPL+' MATURITY S&P TRADE SETTLE ORIGINAL YTM ACCRUED AMORTIZED NIARKE'1'
CUSIP DESCRIPTION PAR COUPON DATE RATING DATE DATE COST AT COST INTEREST COST VALUE
CORPORATE NOTE
36962GB78 GENERAL ELECTRIC CAPITAL COR 500,000 3.500 05/01/08 AAA 10/31/05 11/03/05 484,820.00 4.806 7,291.67 487,205.21 453,097.50
500,000 484,820.00 4.806 7,291.67 487,205.21 483,097..50
FED AGY IIOND/NOTE
3128X1GQ4 FHLMC NOTES (CALLABLE) 1,085,000 2.450 12/11/06 AAA 05/29/03 06/11/03 1,084,186.25 2.473 S,f22.43 (,034,533.10 1,065,x46.13
31339XWY6 FHLB BONDS (CALLABLE) 1,000,000 2.220 12/26/06 AAA 06/12/03 06/26/03 999,843.75 2.225 5,858.33 999,966.16 979,375.00
31359MUE1 FNMA GLOBAL BENCHMARK NOTES 1,140,000 2.375 02/15/07 AAA 03/01/04 03/01/04 1,140,505.02 2.359 3,459.58 1 , 140, 154.53 1 ,1 13,637.50
31359MUEl FNMA GLOBAL BENCHMARK NOTES 1,900,000 2.375 02/15/07 AAA 04/01/04 04/02/04 1,905,0.35.00 2.279 5,765.97 1,901,571.94 1,856,062.50
3133XAY10 FHLB NOTES 1,035,000 3.750 05/15/07 AAA 05/02/05 05/03/05 1,031,739.75 3.913 14,662.50 1,033,176.91 1,019,x75.00
3133XBZl<4 FHLB GLOBAL NOTES 2,200,000 3.625 06/20/07 AAA 10/05/05 10/06/05 2,173,177.60 4.37 I 22,374,31 2,150,717.S5 2, I b I ,500,00
3133X4QM6 FHLB NOTES (CALLABLE) 875,000 3,010 06/25/07 AAA 03J05/04 03/25/04 875,000.00 3.01 I 438.96 575,000.00 553,125.00
3134A4VD3 FHLMC REFERENCE NOTES 2,050,000 4.000 08/17/07 AAA 0]/19/06 01/20/06 2,029,772.65 4.655 10,022.22 2,032,292.24 2,019,890.63
c 3128X4HM6 FHLMC NOTES (CALLABLE) !,300,000 4.500 08/22/07 AAA 09/21/05 09/22/05 1,301,495.00 4.435 6,337.50 1,300,663.39 1,287,.573.30
3133MTQB7 FF1LB TAP NOTES 1,390,000 3.500 11/15/07 AAA 05/09/05 05/09/05°' 1,372,194.10 4.0x0 18,378.59 1,378,329.74 1,355,654.35
0 3133XBSV8 FHLB TAP NOTES 3,000,000 4.000 06/t3/08 AAA 05/31/05 06/02/05 3,008,940.00 3.894 36,000..00 3,006,614.10 2,934,375.00.
0 31331S2L6 EFCBGLOBALNOTES 1,500,000 4.250 10/10/08 AAA 11/30/05 12/05/05 1,482,330.00 4.695 30,281.25 1,484,250.03 1,473,231.25
~ 3134A4VFI4 FHLMC GLOBAL NOTES 860,000 4.625 12/19/08 AAA 01/03/06 01/06/06 858,239.58 4.699 1 1,269.58 555,3S 1.09 SS0,3'?S.Or)
i;, 3134A4VH4 FHLMC GLOBAL NOTES 1,175,000 4.625 12/19/08 AAA 01/26/06 01/31/06 1,171,566.65 4.728 15,397.40 1,171,535,90 1,161,751.25
z 31359MEK5 FNMA NOTES 1,000,000 5.250 OI/l5/09 AAA 01/25/06 01/27/06 1,014,997.00 4.702 11,083.33 1,014,155.52 1,004,062.50
C7 31359MFI97 FNMA NOTES (CALLABLE) 1,500,000 5.280 02/27/09 AAA 03/30/06 03/31/06 (,494,510.00 5.403 7,480.00 (,494,316.40 1,496,250,00
23,010,000 22,943,832.35 3.928 206,932.25 22,956,789.20 2.2,631 ,5x4.44
US TSY BOND/NOTE
912828CG3 US TREASURY NOTES 800,000 3.125 05/15/07 TSY 06/02/04 06/03/04 799,157.50 3.161 9,461 .33 799,685.79 754,81 2.50
912828DW7 US TREASURY NOTES 2;250,000 3.500 05/31/07 TSY 06/29/05 06/30/05 2,243,671,85 3.652 26,394.23 2,246,137.57 2,215,x55.00
912828CR9 US TREASURY NOTES 1,500,000 2.750 08/15/07 TSY 09!01/04 09/02/04 1,501,582.03 2.712 5,127.76 1,500,755.64 1,455,105.00
912828AT7 US TREASURY NOTES 1,250,000 3.000 02/15/08 TSY 03/15/06 03/17/06 1,211,083.98 4.716 4,661.60 1,211,89S.32 1,20),131.25
912828EL0 US TREASURY NOTES 1,765,000 4.375 11/15/08 TSY 11/30/05 12/05/05 1,763,690.04 4.401 29,223.67 1,763,851..74 (,744,565.41
912828EV8 US TREASURY NOTES 1,000,000 4.500 02/15/09 TSY 02/]0/06 02/15/06 995,78!.25 4.652 5,593.92 995.,946.17 991,32S.00
8,565,000 8,514,996.68 3.870 80,462,51 8,518,278.53 5,403,703.46
TOTALSECU2ITIES $32,075,000 531,943,649.03 3,926 % 5294,686,43 531,962,272.94 531,518,645.40
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CITY OF PETALUMA, CA
CITY TREASURER'S QUARTERLY REPORT
For the quarter ending March, 2006
Reconciliation of Cash Disbursements:
Accounts Payable Cash Disbursements January, 2006 6,895,953.21
Accounts Payable Cash Disbursements February, 2006 6,032,645.96
Accounts Payable Cash Disbursements March, 2006 6,517,967.25
Accounts Payable Cash Disbursements after March, 2006 -
Prior Quarter's Timing Items -
Voided Accounts Payable Checks (4,254.81)
Disbursements to Trustee -Recorded as a transfer on page two (241,369.40)
Trustee Disbursements for Debt Service 207,684.38
Payroll Cash Disbursements January, 2006 1,328,379.70
Payroll Cash Disbursements February, 2006 •1,402,922.55
Payroll Cash Disbursements March, 2006 2,038,668.30
Payroll Cash Disbursements after March, 2006 -
Prior Quarter's Payroll Timing Items -
Uoided Payroll'Checks ~ -
Bank/Trustee Fees/Cost of Issuance 12,724.26
Police Trust Cash Disbursements 2,599.18
Thomas Lee Charity Cash Disbursements -
24,193,920.58
Comparison of Current Investments to Prior Quarter/Prior Year (including gain/?oss disposal):
December, 2005 March, 2006 March, 2005
Cash and Investments at the end of the quarter $ 64,175,643 $ 59,809,244 $ 76,988,247
Interest Received or Accrued from July 1 $ 910,496 $ 1,416,907 $ 1,062,546
Estimated Average Interest Rate 3.56% 3.64% 2.19%
US T-bill 91 day Yield 3.97% 4.63% 2.80%
Resolution No. 2006-138 N.C.S. Page 7