HomeMy WebLinkAboutInvestment Advisory Agenda 05/02/18Date: May 8, 2018
AGENDA ITEM
Reviewed/Verified By:
norable Mayor and City Manager mbers of the City Council Finance Director 7JviJi7
kOtto To Be Presented By:
Manager x Cons Calendar City Mgr Rpts
hardA.Ro�� >-- - Council Reports - Legal Affairs >-- Treasurer' Boards/Cmtes Public Hrgs - -
liam M. Kolbow . Admin Reports Plan/Environ
Ric
City
Wil
Finance Director
FROM:
TO: Ho
Me
THRU: Ric
City
11. SUBJECT
MONTHLY TREASURER'S REPORTS FOR JANUARY, FEBRUARY, AND MARCH
2018.
12. SUMMARY
Presentation of three monthly Treasurer's Reports to the City Council after the end of the quarter
covered by the reports.
13. RECOMMENDEDACTION
Receive and file.
14. FISCAL IMPACT
No fiscal impact as a result of this action.
! s, STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community - Effectively manage and develop City assets.
16. GENERAL PLAN IMPLEMENTATION
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11. 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 11005 and is in accordance with the California Government Code
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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.
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 @ 12/31/2017
Monthly Activity:
Cash Received
Cash Disbursed
$131,424, 184
47,660,480
(43,172,024)
Balance@ 3/31/2018 $135,912,640
OJ Includes 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 January 2018
The January cash receipts exceeded cash disbursements by $4,588,818. The City received
$6,458,225 in property tax in lieu of motor vehicle license fees, $6,617, 100 in property tax revenue
($4,528,691 for the City and $2,088,409 as property tax increment collected for the Successor
Agency), and $2,968,000 in sales tax revenue. During the month, large disbursements included
payments totaling $3, 127,816 to Orange County Water District for pumping assessments,
$1,731,258 to PERS for employee benefits, $769,683 to Kasa Construction for Yorba Park
renovation, and $581,907 to Municipal Water District of Orange County for purchased water.
In the month of January, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on January 31 was $24,700,000 or an increase of $3,700,000 due to cash
receipts exceeding cash disbursements.
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For the month of February 2018
The February cash disbursements exceeded cash receipts by $1,461,481. During the month, large
disbursements included payments totaling $1,255,857 to U.S. Bank for debt service, $1,614,433
to PERS for employee benefits, and $342,843 to Municipal Water District of Orange County for
purchased water. The City received $3,957,200 in sales tax revenue.
In the month of February, no investments were purchased, matured or were called. The ending
balance in L.A.I.F. on February 28 was $23,400,000 or a decrease of $1,300,000 due to cash
disbursements exceeding cash receipts.
For the month of March 2018
The March cash receipts exceeded cash disbursements by $1,361,119. The City received
$4,021,050 in sales tax revenue and $1,860,64 7 in property tax revenue. Large disbursements
included payments totaling $1,604,690 to PERS for employee benefits, $924,501 to U.S. Bank for
debt service, $235,813 to Big Ben Engineering for pipeline renewal, and $211,947 to West Coast
Arborist for street tree maintenance.
In the month of March, we purchased one Federal Home Loan Bank note (2.5% for 2.25 years)
The City's balance in L.A.I.F. on March 31 was $23,500,000 or an increase of $100,000 related to
cash receipts exceeding cash disbursements and the investment activity during the month.
CREDIT RA TING 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 May 2, 2018 while the next quarterly Committee meeting is to
be scheduled for August 2018.
js. ATTACHMENTS
Attachment A - In vestment Report for January 2018
Attachment B - In vestment Report for February 2018
Attachment C - Investment Report for March 2018
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