HomeMy WebLinkAboutSR - - MONTHLY REPORT JULY AUGUST SEPTEMBER 2015AGENDA ITEM
Date: November 10, 2015
TO: Honorable Mayor and
Members of the City Council
THRU: Rick Otto
City Manager
FROM: Richard A. Rohm
City Treasurer'
William M. Kolbow
Finance Director,(i"�
ReviewedNerified By:
City Manager
Finance Directo
To Be Presented By:
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City Mgr Rpts
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Plan/Environ
1. SUBJECT
MONTHLY TREASURER'S REPORTS FOR JULY, AUGUST, AND SEPTEMBER 2015.
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.
4. FISCAL IMPACT
No fiscal impact as a result of this action.
15. STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
1 6. GENERAL PLAN IMPLEMENTATION
N/A
7. DISCUSSION and BACKGROUND
The City's current Statement of Investment Policy has been adopted by the City Council of the
City of Orange as Resolution 10866 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.
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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 (IAC).
SUMMARY OF CHANGES IN TREASURER'S CASH AND INVESTMENTS
Treasurer's Operating
Cash & Investments
Balance @ 6/30/2015 $170,358,583
Monthly Activity:
Cash Received 25,596,022
Cash Disbursed ( 57,310,139)
Balance @ 9/30/2015 $138,644,466
MIncludes 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 July 2015
The July cash disbursements exceeded cash receipts by $17,364,906. During the month, large
disbursements included payments totaling $8,050,000 to Ticor Title Company for the closing costs
of the Lemon Grove housing project, $2,970,447 to PERS for employee benefits, $2,645,559 to
Orange County Water District for pumping assessments, $1,077,373 to CIPA (California
Insurance Pool Authority) for insurance, and $460,112 to Municipal Water District of Orange
County for purchased water. In July, the City received $2,050,300 in sales tax revenue and
$259,956 in property tax revenue.
In the month of July, one Federal Home Loan Mortgage Corporation Note was called. The City's
balance in L.A.I.F. on July 31 was $32,900,000 or a decrease of $11,600,000 due to the cash
disbursements exceeding cash receipts during the month.
For the month of August 2015
The August cash disbursements exceeded cash receipts by $9,662,738. During the month, large
disbursements included payments totaling $5,184,060 to U.S. Bank for debt service, $2,195,154
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to PERS for employee benefits, $548,953 to Municipal Water District of Orange County for
purchased water, $350,717 to SCW Contracting for pump station replacement, and $323,767 to
Big Ben for annual pipeline renewal. In August, the City received $2,733,800 in sales tax revenue.
In the month of August, there was no investment activity. The City's balance in L.A.I.F. on August
31 was $25,700,000 or a decrease of $7,200,000 due to cash disbursements exceeding cash receipts
during the month.
For the month of September 2015
The September cash disbursements exceeded cash receipts by $4,686,473. Large disbursements
included payments totaling $2,194,624 to PERS for employee benefits, $2,162,894 to U.S. Bank
for debt service, and $716,501 to Municipal Water District of Orange County for purchased water.
The City received $2,601,207 in sales tax revenue and $504,929 in property tax revenue.
In the month of September, one commercial paper matured. One Federal Home Loan Mortgage
Corporation Note was called. The City's balance in L.A.I.F. on September 30 was $28,800,000
or an increase of $3,100,000 due to the investment activity during the month.
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 November 4, 2015 while the next quarterly Committee meeting
is to be scheduled for February 2016.
8. ATTACHMENTS
Attachment A - Investment Report for July 2015
Attachment B - Investment Report for August 2015
Attachment C - Investment Report for September 2015
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