HomeMy WebLinkAboutSR - - REPORTS FOR OCTOBER NOVEMBER DECEMBER 2014AGENDA ITEM
Date: February 10, 2015
ReviewedNerified By:
TO: Honorable Mayor and
City Manager.
Members of the City Council
Finance Dir
THRU: John W. Sibley
To Be Present y:
City Manager
X Cons Calendar
Mgr Rpts
FROM William M. Kolbow
Council Reports
_City
_ Legal Affairs
Acting City Treasurer/
Boards /Crates
_ Public Hrgs
Finance Director ��
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Plan/Environ
MONTHLY TREASURER'S REPORTS FOR OCTOBER, NOVEMBER, AND
DECEMBER 2014.
2. SUMMARY
Presentation of three monthly Treasurer's Reports to the City Council after the end of the quarter
covered by the reports.
3. RECOMMENDED ACTION
Receive and file.
14. FISCAL IMPACT I
No fiscal impact as a result of this action.
1 5. STRATEGIC PLAN GOAL(S) I
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
6. GENERAL PLAN IMPLEMENTATION I
N/A
17. DISCUSSION and BACKGROUND I
The City's current Statement of Investment Policy has been adopted by the City Council of the
City of Orange as Resolution 10796 and is in accordance with the California Government Code
Sections 53600 ET Seq. Per the Investment Policy, three monthly investment reports are to be
submitted to the City Council within 45 days following the end of the quarter.
ITEM 3 - I
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As required by the City's present Investment Policy, the City Treasurer's report delineates all
investments made by the City Treasurer for the City, its special funds, and the Successor Agency
funds, by investment type and by broker.
The monthly Compliance Report certifying compliance of all investments with both the
Government Code and the City's Investment Policy is included.
The Investment Portfolio Statement accurately reflects all investments held by the City and its
agents as of the end of the month. This investment data is also presented in other summary and
graphic form. A reconciliation between total cash and investments and total cash per the General
Ledger is also included.
All of the three monthly Treasurer's Reports have been reviewed by the Investment Advisory
Committee.
SUMMARY OF CHANGES IN TREASURER'S CASH AND INVESTMENTS
Treasurer's Operating
Cash & Investments
Balance @ 9/30/2014 $144,958,057
Monthly Activity:
Cash Received 38,827,793
Cash Disbursed (34,764,758)
Balance @ 12/31/2014 149,021,092
OIncludes operating cash and investments (valued at cost). Does not include deposits with
administrators, imprest cash, fiscal agent cash and investments, and deferred compensation.
For the month of October 2014
The October cash disbursements exceeded cash receipts by $2,960,611. During the month, large
disbursements included payments totaling $2,033,891 to PERS for employee benefits, $725,309
to Municipal Water District of Orange County for purchased water, $530,223 to L3
Communications for mobile data computers in police and fire vehicles as well as an in -car video
system in the police vehicles, and $463,175 to R.J. Noble for annual pavement maintenance. In
October, the City received $1,954,100 in sales tax revenue.
In the month of October, the City purchased one medium term note (3.5 years at 1.30 %). One
Federal Home Loan Bank Note was called. The City's balance in L.A.I.F. on October 31 was
$30,900,000 or an increase of $400,000 due to the investment activity during the month.
For the month of November 2014
The November cash disbursements exceeded cash receipts by $2,145,488. During the month,
large disbursements included payments totaling $2,056,635 to PERS for employee benefits and
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$761,552 to Municipal Water District of Orange County for purchased water. In November, the
City received $2,605,500 in sales tax revenue and $1,153,441 in property tax revenue.
In the month of November, the City purchased one Federal Home Loan Mortgage Corporation
Note (0.60% for 2 years). One Commercial Paper matured. The City's balance in L.A.I.F. on
November 30 was $31,400,000 or an increase of $500,000 due to the investment activity during
the month.
For the month of December 2014
The December cash receipts exceeded cash disbursements by $9,169,134. The City received
$11,253,902 in property tax revenue and $3,205,060 in sales tax revenue. Large disbursements
included payments totaling $2,102,708 to PERS for employee benefits, $525,445 to Municipal
Water District of Orange County for purchased water, and $431,862 to R.J. Noble for street
improvements.
In the month of December, the City purchased one commercial paper (0.34% for 9 months) and
one Federal National Mortgage Association Note (2.05% for 5 years). One commercial paper
matured. The City's balance in L.A.I.F. on December 31 was $32,400,000 or an increase of
$1,000,000 due to cash receipts exceeding cash disbursements.
CREDIT RATING ON INVESTMENTS
During this period, there was no change to the credit rating on the investments in the investment
portfolio.
INVESTMENT ADVISORY COMMITTEE (IAC)
The most recent IAC meeting was February 4, 2015 while the next quarterly Committee meeting
is to be scheduled for May 2015.
18. ATTACHMENTS
Attachment A - Investment Report for October 2014
Attachment B - Investment Report for November 2014
Attachment C - Investment Report for December 2014
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