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Home My WebLink AboutStaff Report 01 2/20/2001 • CITY OF PETALUMA, CALIFORNIA AGENDA BILL. Agenda Title: Meeting Date: • Receive and File Quarterly Treasurer's Report February 20, 2001. Department: t epa nment: Director. J. Thomas ecor ntact,Person:. ,Phone-Number: Paula M. Cornyn 778-4352 Cost of Proposal: An estimated $150 to cover staff time to Amount Budgeted: Staff cost produce:the report included in overall Finance Department Budget • Account.Number: Finance'Department#1610 Attachments to Agenda Packet Items; Resolution Filing Quarterly Treasurer's Report December 31, 2000 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 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. Council.Priority: THIS AGENDA ITEM TS CONSIDERED To BE PART OF, OR NECESSARY To, ONE OR MORE OF THE 1999-2000 PRIORITIES ESTABLISHED BY THE CITY COUNCIL ON JANUARY 30, 1999. Priority(s): Complete Budget, Revenue and Service Level Review Recommended City Council Action: To approve resolution to receive and file December 31, 2000 Treasurer's Report t eviewed by'Fi ance Director: Revie , i ,i1 ' ne : Apvfved,b 'ity Manager: l 1 • A l'at : � Date: • Today's Dat : Revision #`.anJDate Revised/File Co t e:. /, CITY OF PETALUMA, CALIFORNIA • AGENDA REPORT' FOR FEBRUARY 20, 2001 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 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 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. 2. BACKGROUND: The Treasurer's Report for the quarter ending,December'31,.2000 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 present 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 month to the end of,this month. A detailed list of the City's disbursements is presented along with comparisons of investment amounts and interest earnings from the prior month and'the.same month in the prior year: . 3. ALTERNATIVES: None, submission of the quarterly report is a requirement of State Law 4. FINANCIAL IMPACTS: The information needed to produce a monthly and a quarterly Treasurer's Report is provided by several Finance Department employees as part of their regular record keeping and reconciling work. • 1. The time spent to produce this report is approximately four hours with an estimated cost of$150 each month. • 5. CONCLUSION: The Quarterly Treasurer's Report presents the financial transactions for the quarter ending • December 31, 2000. 6. OUTCOMES.OR PERFORMANCE MEASUREMENTS THAT WILL IDENTIFY SUCCESS.OF COMPLETION. 7. RECOMMENDATION: To adopt the resolution to receive and file the Quarterly Treasurer's Report for the«period ending December 31, 2000. 1 .. • Resolution No. N.C.S. 2 of the City of Petaluma,. California 3 4 5 RESOLUTION TO REVIEW AND FILE THE 6 DECEMBER 31, 2000 QUARTERLY CITY TREASURER'S REPORT 7 8 9 WHEREAS, State Law requi'es that the City Council review the City's Treasurer's Report 10 on'a quarterly basis for compliance with the adopted City Investment Policy. 11 12 NOW, THEREFORE, BE IT RESOLVED that the CityCouncil has reviewed said report 13 and directs the City Clerk to file it. 14 15 16 17 18 19 20 23 24 25 26 27 28 29' 30 31 32 33 Under the power and authority conferred upon this Council by Charter of said City. . 34 REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the 35 Council of,the City of Petaluma at a Regular meeting.on 2001 Approved as to 36 by the following vote: form: 37 38 39 • City Attorney 40 AYES: 41 NOES: 42 ABSENT: 43 AIIEST: City Clerk Mayor 46 47 Resolution No: NCS • CITY,OF-PETALUMA,CA CITY TREASURER'S MONTHLY-REPORT • For the Quarter Ending December 2000 Cash Activityfor the Quarter Cask'andlnvestments, Beginning of the Quarter $ 59,617,819 Cash Receipts 22,713,416 Cash'Disbursements (17,340,902) Cash and Investments,End of the Quarter $ 64,990,333 Cash and Investment Portfolio at Decembei,31,2000 Percent Weighted Market Par Value of Days to Current Value (Cost) Portfolio Maturity Annual Yield Investments Managed by City Treasurer:. Local Agency Investment Fund 32,451,553 32,040,278 49.30% 1 6.52%. Federal Agency Securities 11;507,515 11,500 000 17.69% 696 6.52% ' California Asset Management Program 743,336'. 743,336 1.14% 1 6.43% Subtotal 44,702,404 44,283;613 68.14% , Investments Managed by Fiscal Agents California Asset Management - •: Program 20;545,200 20,545,200 31.61% 1 6.43% US Bank Money Market 567 567 0.00% 1 3.75% First American Treasury Obligations 82,403 82,403 0.13% 1 5.93% li Wells Fargo Money Market 442 442 0:00% 1 5.82% Chase Vista 10,188 `10,188 0.02% 1 6.05% Union Bank Provident Fund 20,525 .20,525 0.03% 1 6.07% Cash held by-Trustees 1,110 1;110 0.00% 1 Subtotal' 20;660,436 20,660,435 31.79% • I Checking Accounts 46;285 46,285 0.07% 1 Total Cash and Investments 65,409,124 64,990,333' . 100.00% Market Values were fur fished 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, 2000.. The , investments are in conformity with the Investment Policy as stated in Resolution Number;00-49, dated . March 20, 2000. A copy oftheinvestment Policyis:available for-review in the Finance Department The City Treasurer's cash management-program provides,sufficient liquidity to meet expenditurerequirements for the next six months. • William J. Thomas f reasurer 1 • • CITY OF PETALUMA, CA CITY TREASURER'S MONTHLY.REPO RT. For the Quarter:Ending December 2000 ' .. Cash and Investment-Portfolio-Changes Beginning End of of,Quarter Receipts Transfers Disbursements: Quarter Investments Managed by City Treasurer; Local Agency Investment Fund 24;940;535:38: 443,820.87 2;875,000.00 - 28;259,356.25 Local Agency Investment Fund 1,603,532.41 27,389.21 2,150,000.00 3;780,921.62 Federal Home Loan Bank 1,000,000.00 1,000,000.00 Federal Home Loan Bank 1,000,000.00 1,000,000.00 Federal National.Mortgage 1,000,000.00 1,000;000.00 Federal Home Loan Bank 2,500;000:00 2,500,000.00 Federal Farm Credit Bank .1,000,000.00 . 1,000;000.00 Federal Home Loan Bank 1,000,000.00 • 1,000,000.00 Federal Home Loan Bank 1,000,000.00 1,000;000.00 Federal Home Loan Bank 1,000,000.00 • 1;000;000.00' Federal-Home Loan Bank 1,000,000.00 1,000,000.00 Federal Home Loan Bank 1,000,000.00 1,000,000:00 California Asset Management - Program '731,406.83 11,928.73 743,335.56 Subtotal 38;775;474.62 483,138.81 5,025;000.00 - 44,283,613.43: all Investments Managed by Fiscal.Agents California Asset Management Program 20,188;839.20 427,763.56 602;335.06 '(673,737.50) 20 545,200.32 US Bank Money Market 130;627:13 565.32 (130,625.65) 566:80 First American Treasury 811206.46 1,196.83 82;403.29 Wells Fargo Money Market 21;496:02 198,631.20 (219;685.01) 442.21 Chase Vista 31,48453 449,287.06 37,654:28 (508;237:64) 10,188.23 Union Bank Provident Fund - 68,070.93 (47;545.90) '20;525.03 Cash held by Trustees 1,115.40 (5.70) 1,109.70. Subtotal 20,454,768.74 1,145,514.90 639,98344 (1,579,831.70) 20,660,435.58 Checking Accounts - Bank of America 'General Operating 278460:81 20,554,727.74 (8,864,450.64) (11,943;771.53) 25,166.38 Payroll 2,23712 3,804,16700 (3,801,216.74) 5;187.38. Mast 101,16739 530,008.96 (604,700.00) (15,894:90) 10,581.65 Thomas Lee 1,051.29 (186.66) 864.63 Police-Trust - 4,459.21 25.27 -4,484.48 Subtotal' 387376:02 21,084,761.97 (5;664;983164) (15;761,069.83) 46,28432 Total Cash and Investments 59;617,819.38 .22,713,415.68 - (17,340,901.53) 64,990;333.53! • • 2 CITY OF PETALUMA,;CA CITY TREASURER'S MONTHLY REPORT For the Quarter Ending December 2000 Reconciliation of Cash Disbursements Check Register Disbursements 12,169,443.65 Payment made by Trustees on City Debt Issues " 1,579,831.70 Voided Checks (225,667.39) Payroll Checks 3,801,216.74 Credit Card Fees 15,894.90 Police Trust - Checks - Thomas Lee Charity - Checks 186.66 Bank Reconciliation Difference (4.73) 17,340,901.53 Comparison of Current Investments to prior quarter and':to prior year September 2000 ,December 2000 December 1999 Cash and Investments at the.end of the month $ 59,617,819 $ 64,990,334 $ 33,081,844 Orest Received or Accrued from July 1 $ 543,320 $ 1,961,903 $ 856,271 Estimated Average Interest Rate 6:47% 6.48% 5.63% US T-bill 91 day Yield 6:01% 5.70% 5.30% • 3' • CITY OF PETALUMA, CA • CITY TREASURER'S.MONTHLY REPORT For the Quarter Ending December 2000 Interfund Loans Amount Loan To Loan From .Purpose 229,750 Airport Operations General Fund Cash Flow 39,300. Marina Fund General Fund Cash Flow 966,700 Marina Fund Petaluma Community Development,Commission Project Area Fund Loan Payments' 77,284 Airport Operations Water Utility Fund Water Lines Airport 43,290 Airport Operations Water Pollution Control Fund Sewer tines to Airport 66;900 Community Development Home/Begin Grants Cash Flow• Block Grant • • • 4 . . O. City of Petalutna, iCalifornia Cash/Investments by Type: - December, 2000 Total Cash/Investments - $64,990,333 • Cash CAMP . $46,285 $743,336-\ • s.. sti:.e Wen,. -. 'v' .•• WNW. IPVIAAPW. • Fiscal Agent t*:4e"s!; •.•: :: $20,660,435 V•* `.:t..il1 S1,t1 OiVtW itAl A iAttiA4 stl1 pk lea LAW r .4?.• • • • •;:tatoratatts: $32,040,278 • %• ' ' • • V.Sat4.1AWAMOS • - ': • ' ::....•>r—:AVANtAtitA i • ' O. ,e;:oaratistit„,, Imi•Nr • =1=j4144114.19;11,117 . •••• ••1• 4$11040,11.11011A, ■=•.MAMA" i raibiltplehor- -" mw- 1.■••411.113-11". Federal Agency Securities $11,500,000 • • III 5 J .