SR - - MONTHLY REPORT PERIOD ENDING JANUARY FEBRUARY MARCH 2014Of Og
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AGENDAITEM
Date: May 13, 2014
TO: Honorable Mayor and
Members of the City Council
THRU: John W. Sibley
City Manager��
FROM: Eric H. Woolery, City Treasu r
Richard Jacobs, Finance-director
1. SUBJECT
ReviewedNer' d By:
City Manager
Finance Dire o
To Be Presente B
X Cons Calendar _
City Mgr Rpts
Council Reports _
Legal Affairs
Boards /Crates _
Public Hrgs
Admin Reports
Plan/Environ
MONTHLY TREASURER'S REPORTS FOR JANUARY, FEBRUARY, AND MARCH
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.
4. FISCAL IMPACT
No fiscal impact as a result of this action.
15. STRATEGIC PLAN GOAL(S) I
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
16. 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 @ 12/31/2013 $142,132,424
Monthly Activity:
Cash Received 47,871,223
Cash Disbursed (41,505,959)
Balance @ 3/31/2014 $148,497,6H
( ' ) 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 2014
The January cash receipts exceeded cash disbursements by $6,782,903. The City received
$7,606,019 in property tax revenue ($5,121,575 as property tax increment collected for the
Successor Agency and $2,484,444 for the City), $6,580,749 in sales tax revenue, and $5,388,264
in motor vehicle license fees. During the month, large disbursements included payments totaling
$3,130,199 to Orange County Water District for purchased water, $2,592,320 to PERS for
employee benefits, $488,183 to Municipal Water District of Orange County for purchased water,
and $307,587 to SND Construction for sewer line replacement.
In the month of January, the City purchased two Federal Home Loan Bank Notes (1.35% for 4
years and 0.40% for 2 years), one Federal National Mortgage Association Note (1.125% for 3
years), and one Federal Farm Credit Bank Note (1.10% for 3.5 years). Three Federal Home Loan
Mortgage Corporation Notes were called. The City's balance in L.A.I.F. on January 31 was
$50,000,000 or an increase of $7,500,000 due to cash receipts exceeding cash disbursements
during the month.
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For the month of February 2014
The February cash receipts exceeded cash disbursements by $2,712,376. During the month, the
City received $5,043,197 in development impact fees related to the AMLI residential project and
$2,451,000 in sales tax revenue. Large disbursements included payments totaling $1,570,689 to
U.S. Bank for debt service, $1,200,009 to PERS for employee benefits, $312,011 to Municipal
Water District of Orange County for purchased water, and $308,030 to Hardy and Harper for
street improvements.
In the month of February, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on February 28 was $50,500,000 or an increase of $500,000 due to cash
receipts exceeding cash disbursements during the month.
For the month of March 2014
The March cash disbursements exceeded cash receipts by $3,130,015. Large disbursements
included payments totaling $2,525,621 to PERS for employee benefits, $1,274,737 to U.S. Bank
for debt service, and $455,823 to Municipal Water District of Orange County for purchased
water. During the month, the City received $2,762,454 in sales tax revenue and $1,246,220 in
property tax revenue.
In the month of March, the City purchased two Federal Home Loan Mortgage Corporation Notes
(both at 1.20% for 3.75 years) and two Federal Home Loan Bank Notes (0.75% for 2.75 years
and 0.65% for 2.75 years). Two Federal National Mortgage Association Notes were called. The
City's balance in L.A.I.F. on March 31 was $45,700,000 or a decrease of $4,800,000 due to cash
disbursements exceeding cash receipts and 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 May 7, 2014 while the next quarterly Committee meeting is to
be scheduled for August 2014.
8. ATTACHMENTS
Attachment A - Investment Report for January 2014
Attachment B - Investment Report for February 2014
Attachment C - Investment Report for March 2014
ITEM
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