HomeMy WebLinkAboutAgenda Packet 06/04/2001 (8) ,? CITY OFPETALUMA, CALIFORNIA JUN - 4 2001
AGE 6 A BILL
Agenda Title: Meeting Date:
•Receive and File Quarterly Treasurer's,Report June 4,2001
;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 Amount Budgeted: Staff cost
produce the report included in overall Finance
Department Budget
Account Number:
Finance Department #1610
Attachments to Agenda Packet Item:.
- Resolution Filing Quarterly Treasurer's.Report
March 31, 2001 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 IS CONSIDERED To BE PART OF, OR NECESSARY To, ONE OR
MORE OF THE 1999-2000 PRIORITIESESTABLISHED 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 March 31,200.1 Treasurer's Report
reviewed by Finance Director: Revie ed'bv %ATLs + ,me :. Apo oved by City Manager:
AJ. 46U_ itc:. .ci ate: r`� I' Date:
"Today's Revision'# and Date Revised:. File Code:
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CITY OF PETALUMA, CALIFORNIA
• AGENDA REPORT
FOR
JUNE 4, 2001
QUARTERLY TREASURER'S REPORT
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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 March 31, 2001 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 fiscat 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 saiie 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
1111 of$150 each month.
5. CONCLUSION:
The Quarterly Treasurer's Report presents the financial transactions for the quarter ending •
March 31, 2001.
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
March 31, 2001.
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CITY OF PETALUMA,CA
CITY TREASURER'S MONTHLY REPORT
For theQuarter E nding March,2001
AllActivity for'the'Quarter
Cash and Investments, Beginning of the Quarter $ 64,990,333
Cash Receipts 15,517,084
Cash Disbursements (13,450,877)
Rounding . 1
Cash and Investments, End of the Quarter $ 67,056,541
Cash and Investment Portfolio at March 31,2001
Percent Weighted
Market Par Value of Days to Current
Value (Cost)_ Portfolio Maturity Annual Yield
Investments Managed by City Treasurer:
Local Agency Investment Fund 38,111,635 37,573,346 56.03% 1 6.16%
Federal Agency Securities' 1-1,581,875 11,500,000 17.15% 1,420 6.23%
CA Asset Management Program 628;783' 6284783 0.94% 1 5.26%
Wells Fargo Sweep Account 484,924 484,924 0.72% 1 3.97%
Subtotal 50,807;217 50;187,054 74:84%
Investments Managed by Fiscal Agents
set Management Program 17;673,123 17,673,123 26.36% 1 5.26%
erican Treasury Obligations '80,628 80,628 0.12% 1 4.98%
Wells-Fargo Money Market 709 709' 0.00% 1 4.77%
Chase Vista 10,294 10,294 0:02% 1 4.67%
Union Bank Provident Fund 2,187 2,187 0.00% 1 5.37%
Cash held by Trustees 501 501 0.00% 1 -
Subtotal 17,767,442 . 17,767,442 26.50%
Checking Accounts (897,955) (897,955) -1.34% 1
Total Cash and Investments 67,676,704 67;056,541 100.00%
Market Values were furnished 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 March 31, 2001. The
investments are in conformity with the InvestrhientPolicy as stated in Resolution Number 00-49, dated
March 20, 2000. 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.
William J. Thomas, reasurer
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CITY OF.PETALUMA,CA
CITY TREASURER'S MONTHLY REPORT
For the Quarter Ending March,2001
Cash and Investment Portfolio Changes •
Maturity Beginning End of
Date of Quarter Receipts Transfers Disbursements Quarter
Investments Managed'by City Treasurer:
Local Agency Investment Fund 28,259,356:25 401,347.00 , 750,000.00 29,410,703.25
Local Agency.Investment Fund 3,780,921.62 31,721.62 4,350;000.00 8,162,643.24
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/l-1/06 1,000,000.00. 1,000,000.00
Federal Home Loan Bank 5/25/04 2,500,000.00 2300,000.00
Federal Farm Credit Bank 5/24/04 1,000,000.00 1,000,000.00
Federal Home Loan Bank 8/15/02 1,000,000.00 - '1,000,000.00
Federal Home Loan Bank 7/16/04. 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 National Mortgage 5/5/03 - -
Federal National Mortgage 1/24/06 1,000,000.00 1.000.000.00
Federal Home Loan Mortgage 1/24/06 1,000;000.00 1,000,000.00
Federal Home Loan Bank 2/7/06 1,000,000.00 1,000.000.00
Federal Home Loan Mortgage 2/27/06 1,000,000.00 1.000.000.00
Federal National Mortgage 3/14/06 1.000,00040 '1,000;000.00
. CA Asset Management Program' 743;335.56 10,061.91 (12441444) - • . 628;783:03 0 -
Wells Fargo Sweep Account - 901.01. 484,023.24 484,924.25
Subtotal 44,283;613.43. 444,03134 5,459,408.80 - 50;187;053.77
- Investments Managed by Fiscal Agents .
CA Asset Management Program 20,545.200:32 260039.40 (3.132,1.17.12) 17473;122.60
US Bank Money Market 566.80 0.62 (567.42). - 0.00
First American Treasury 82,403.29 1,112.36 193,751.03 (196,638:75) 80,627.93
Wells Fargo Money Market 442.2I 267.15 709.36
Chase Vista 10,188.23 105.83 10,294.06
Union Bank Provident Fund 20,525.03 280.83 3,987.10 (22,60537) 2,187.39
Cash held by Trustees 1.109.70. 500.80 199,594:05 (200,703.75) 500.80
Subtotal 20,660;435.58 262,306.99 (2;734,784:94) (420515.49). 17,767,442.14
Checking Accounts -
Bank of America
General Operating 25,166.38 11,611.984.98 (4,614.612.47) (7;02429:31) (7290.42)
Payroll 5,187.38 2,114,709.00 (2;114,648:18) 5,248.20
Mast 10.581.65 95,405.79 (100.842.15) (5,145:29) (0.00)
Thomas Lee 864.63 (764:63) (100.00) -
Police Trust 4,484.48 .8.57 (4,493.05) -
Wells.Fargo
General Operating - 2,660,518.45 (643.714.24) (2,942,742.62) (925;938.41)
Payroll - 937,194.00 (932,193:14) 5000.86
Mast - 442,828.00 (418,000.00) (5,459.87) 19,368.13
Thomas Lee - 1,406.63 (243.38) 1,163.25
Police Trust - 4,493.05 4,493.05 •`
Subtotal 46,284.52 14,810,745.79 (2;724.623.86) (13;030,361.79) (897,955.34)
Total Cash and Investments 64,990,333.53 :15517,08432 - (13;450,877.28) 67,056,540.57
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CITY OF'.:PETALUMA, CA
• CITY TREASURER'S.MONTHLY,REPORT
For the Quarter Ending March, 2001
Reconciliation of Cash Disbursements
Check Register Disbursements 11,267,816.74
Voided Checks (528,059.29)
Checks written to Trustee--Recorded as.Transfers on page 2 (283,167.29)
Payment made by Trustees on City Debt Issues 420,515.49
Payroll Checks 3,048,259.94
Voided Payroll Checks (1,418.62)
Credit Card.Fees 10,605.16
Police Trust - Checks -
Thomas Lee Charity - Checks . 343.38
Fee Paid on Security Purchase 5.00
• Bank Reconciliation Difference 0.01
Transfer to Welts Fargo Sweep Account (484,023.24)
13,450,877.28
Sparison of Current Investments to prior quarter and to prior year
December:2000 March, 2001 March, 2000
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Cash and Investments at the end of the month $ 64,990,334 $ 67,056,541 $ 35,527,317
Interest Received or Accrued from July 1 $ 1,961,903 $ 3,054,138 $ 1,345,668
Estimated Average Interest Rate 6.48% 5.91% 5.97%
US T-bill 91 day Yield 5.70% 410% 5.72%
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CITY OF PETALUMA, CA �.
CASH/INVESTMENTS BY TYPE -- MARCH 31 , 2001
Total Cash & Investments -- $67,056,541
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Fed. Agency Securities
17.04% Fiscal Agents
N 26.33%
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,CAMP
0.93%
Ar
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n�i 3A ac{ya ✓
LAIF
55.69%
• CITY OF-PETALUMA, CA
CITY TREASURER'S'MONTHLY REPORT
For the Quarter Ending March,2001
Interfund Loans
Amount Loan To Loan From Purpose
259,029 Airport Operations General Fund Cash Flow
55,557 Marina Fund General Fund Cash Flow
1,274,685 Marina Fund Petaluma.Community
Development Commission
Project Area Fund Loan Payments
77,284 Airport Operations Water Utility Fund Water Lines to Airport
43,290 Airport Operations Water Pollution Control
Fund Sewer Lines to Airport
• 66,900 Community Development Home/Begin Giahts Cash Flow
Block Grant
1,776,745
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1 Resolution No. N.C.S. �.
2 of the City of Petaluma, California
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5 RESOLUTION TO REVIEW AND FILE THE
6 MARCH 31, 2001 QUARTERLY CITY TREASURER'S REPORT
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9 WHEREAS, State Law.requires'that the City Council review the City's Treasurer's Report
10 on.a quarterly basis for compliance with the adopted City Investment Policy.
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12 NOW, THEREFORE BE IT RESOLVED that the City Council has reviewed said report •
13 and directs the City Clerk to file it. -
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33 Under the power and authority conferred upon:this Council by the 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:
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39 City Attorney
40 AYES:
41 NOES:
42 ABSENT:
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44 ATTEST:
45 City Clerk Mayor
47 Resolution No. NCS