SR - - MONTHLY REPORT OCTOBER NOVEMBER DECEMBER 2013op oR,
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AGENDAITEM
Date: February 11, 2014 7
TO: Honorable Mayor and
Members of the City Council
THRU: John W. Sibley
City Manage �_ }
FROM: Eric H. Woo er City Trea v
Richard Jacobs, Finance irect
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1. SUBJECT
ReviewedNeri ed By:
City Manager
Finance Direct (r
To Be Presented By:
X Cons Calendar _
City Mgr Rpts
Council Reports _
Legal Affairs
Boards /Crates —
Public Hrgs
Admin Reports
Plan/Environ
MONTHLY TREASURER'S R"ORTS FOR OCTOBER, NOVEMBER, AND
DECEMBER 2013.
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.
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 10711 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.
SUMMARY OF CHANGES IN TREASURER'S CASH AND INVESTMENTS
Treasurer's Operating
Cash & Investments
Balance @ 9/30/2013 $138,278,509
Monthly Activity:
Cash Received 37,646,052
Cash Disbursed (33,792,137)
Balance @ 12/31/2013 $1142.132.424
( ' ) 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 October 2013
The October cash disbursements exceeded cash receipts by $2,919,436. During the month, large
disbursements included payments totaling $1,894,579 to PERS for employee benefits, $808,132
to Orange County Water District for purchased water, and $741,122 to U.S. Bank for debt
service. In October, the City received $1,987,500 in sales tax revenue and $127,129 in property
tax revenue.
In the month of October, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on October 31 was $30,350,000 or a decrease of $1,050,000 due to cash
disbursements exceeding cash receipts during the month.
For the month of November 2013
The November cash disbursements exceeded cash receipts by $89,177. During the month, large
disbursements included payments totaling $1,909,944 to PERS for employee benefits, $782,454
to Municipal Water District of Orange County for purchased water, and $300,274 to SND
Construction for sewer line replacement. In November, the City received $2,650,000 in sales tax
revenue and $1,715,371 in property tax revenue.
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In the month of November, one Federal Farm Credit Bank Note was called. The City's balance
in L.A.I.F. on November 30 was $38,450,000 or an increase of $8,100,000 due to the investment
activity during the month.
For the month of December 2013
The December cash receipts exceeded cash disbursements by $6,862,528. The City received
$10,265,877 in property tax revenue and $2,206,597 in sales tax revenue. Large disbursements
included payments totaling $1,943,643 to PERS for employee benefits, $1,566,934 to the County
of Orange for the pending dispute with Department of Finance relating to the Serrano Woods
affordable housing project, and $795,123 to Municipal Water District of Orange County for
purchased water.
In the month of December, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on December 31 was $42,500,000 or an increase of $4,050,000 due to cash
receipts exceeding cash disbursements 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 February 5, 2014 while the next quarterly Committee meeting
is to be scheduled for May 2014.
8. ATTACHMENTS
Attachment A - Investment Report for October 2013
Attachment B - Investment Report for November 2013
Attachment C - Investment Report for December 2013
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