SR - - REPORTS FOR APRIL MAY JUNE 2015OP
A
AGENDA ITEM
Date: August 11, 2015
TO: Honorable Mayor and
Members of the City Council
THRU: Rick Otto
Interim City Manager
FROM: Richard A. Rohm
City Treasurer
William M. Kolbow�
Finance Director .Gy
ReviewedNerified By.
City Manager
Finance Direc r
To Be Presented By:
X Cons Calendar
City Mgr Rpts
_
Council Reports _
Legal Affairs
Boards /Cmtes
Public Hrgs
Admin Reports
Plan/Environ
1. SUBJECT - 7771
MONTHLY TREASURER'S REPORTS FOR APRIL, MAY, AND JUNE 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.
5. STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
1 6. GENERAL PLAN IMPLEMENTATION
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.
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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 @ 3/31/2015 $151,071,391
Monthly Activity:
Cash Received 52,825,826
Cash Disbursed (33,538,634)
Balance @ 6/30/2015 $170,358,583
( ' ) 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 April 2015
The April cash receipts exceeded cash disbursements by $6,539,845. The City received
$8,455,573 in property tax revenue and $1,821,200 in sales tax revenue. During the month, large
disbursements included payments totaling $2,075,088 to PERS for employee benefits and
$447,034 to Municipal Water District of Orange County for purchased water.
In the month of April, one Federal Farm Credit Bank Note was called. The City purchased one
Federal National Mortgage Association Note (1.125% for 3 years) and one commercial paper
(0.37% for 180 days). The City's balance in L.A.I.F. on April 30 was $37,300,000 or a decrease
of $4,300,000 due to the investment activity during the month.
For the month of May 2015
The May cash receipts exceeded cash disbursements by $8,668,078. During the month, the City
received $7,009,922 in sales tax revenue, $5,627,421 in motor vehicle license fees, and $668,789
in property tax revenue. Large disbursements included payments totaling $2,072,963 to PERS for
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employee benefits, $504,994 to Municipal Water District of Orange County for purchased water,
and $501,728 to SCW Contracting for pump station replacement.
In the month of May, one Federal Home Loan Mortgage Corporation Note was called. The City
purchased one Federal National Mortgage Association Note (1.25% for 3.25 years). The ending
balance in L.A.I.F. on February 28 was $44,200,000 or an increase of $6,900,000 due to cash
receipts exceeding cash disbursements during the month.
For the month of June 2015
The June cash receipts exceeded cash disbursements by $4,079,269. The City received $5,810,628
in property tax revenue ($4,902,581 as property tax increment collected for the Successor Agency
and $908,047 for the City) and $3,470,359 in sales tax revenue. Large disbursements included
payments totaling $2,102,949 to PERS for employee benefits, $527,251 to Municipal Water
District of Orange County for purchased water, and $431,435 to CJ Construction for annual
concrete replacement at various locations.
In the month of June, one Federal National Mortgage Association Note was called. The City
purchased one Federal Home Loan Mortgage Corporation Note (1.5% for 3.5 years). The City's
balance in L.A.I.F. on June 30 was $44,500,000 or an increase of $300,000 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 August 5, 2015 while the next quarterly Committee meeting is
to be scheduled for November 2015.
8. ATTACHMENTS 7:=
Attachment A - Investment Report for April 2015
Attachment B - Investment Report for May 2015
Attachment C - Investment Report for June 2015
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CITY COUNCIL MINUTES
AUGUST 11, 2015
Dean Vargas, Marla Crosswhite, Anne Chhouk, Robert Davis, James Meyer, Carol Algra,
Martha Martin, Chris Vance, William Abbott, Dan Subia, Donna Bessette, Barbara
Schroeder, Merrill Smith, Craig Riesch, Steve Leseney, B. Cabrerra, Janet Knox, Michael
Chew, Dianne Rapp, Mark Moynihon, Steve Schecter, Tim Nichelson, Denise Anderson,
Dek Soto, Ann Rice, Jennifer Sterling, Mathew Cunningham, Martha Bradshaw, and
Raymond McMahon.
RECESS: The City Council took a 10 minute recess at 8:06 p.m. and reconvened at 8:16 p.m.
with all members present.
3. CONSENT CALENDAR
All items on the Consent Calendar are considered routine and are enacted by one motion
approving the recommended action listed on the Agenda. Any member of the City Council,
staff or the public may request an item be removed from the Consent Calendar for
discussion or separate action. Unless otherwise specified in the request to remove an item
from the Consent Calendar, all items removed shall be considered immediately following
action on the remaining items on the Consent Calendar.
3.1 Confirmation of warrant registers dated, July 7, 9, 16, 21, 23, and 28, 2015.
ACTION: Approved.
3.2 City Council Minutes, Regular Meeting of July 14, 2015. (C2500.D.4)
ACTION: Approved.
3.3 Waive reading in full of all ordinances on the Agenda.
ACTION: Approved.
3.4 Treasurer's Report for the Months of April, May, and June 2015. (C2500.F)
ACTION: Received and filed.
AGREEMENTS
3.5 Agreement for Sharing Consultant Costs for 2015 Urban Water Management Plan.
(A2100.0 Agr- 5577.A)
ACTION: Approved Cost Sharing Agreement and authorize City Manager or his designee
to sign the agreement for the City.
3. CONSENT CALENDAR (Continued)
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