SR - - REPORTS OCTOBER NOVEMEBER AND DECEMBER 2015AGENDA ITEM
Date: February 9, 2016
TO: Honorable Mayor and
Members of the City Council
THRU: Rick Otto
City Manager
FROM: Richard A. RohnW — p- t
City Treasurer
William M. Kolbowl�
Finance Director
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
MONTHLY TREASURER'S REPORTS FOR OCTOBER, NOVEMBER, AND
DECEMBER 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
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
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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 @ 9/30/2015 $138,644,466
Monthly Activity:
Cash Received 44,240,155
Cash Disbursed ( 39,910,127)
Balance @ 12/31/2015 $142,974,494
( ' ) 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 2015
The October cash disbursements exceeded cash receipts by $4,247,872. During the month, large
disbursements included payments totaling $2,170,748 to PERS for employee benefits, $831,974
to R.J. Noble for annual pavement maintenance, and $772,897 to Municipal Water District of
Orange County for purchased water. In October, the City received $2,170,800 in sales tax revenue.
In the month of October, the City purchased one commercial paper (0.54% for 9 months), one
Federal Farm Credit Bank Note (1.7% for 5 years), and one Federal National Mortgage
Association Note (5 years at 1.5% till 10/29/18, 1.75% till 4/29/19, 2% till 10/29/19, 2.5% till
4/29/20, and 3% till 10/29/20). One commercial paper matured. One Federal Home Loan Bank
Note was called. The City's balance in L.A.I.F. on October 31 was $28,600,000 or a decrease of
$200,000 due to the cash disbursements exceeding cash receipts and investment activity during
the month.
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For the month of November 2015
The November cash receipts exceeded cash disbursements by $2,623,570. The City received
$2,894,500 in sales tax revenue and $2,365,314 in property tax revenue. During the month, large
disbursements included payments totaling $2,200,890 to PERS for employee benefits, $677,558
to R.J. Noble for annual pavement maintenance, $579,399 to Municipal Water District of Orange
County for purchased water, and $323,400 to All American Asphalt for street improvements.
In the month of November, there was no investment activity. The City's balance in L.A.I.F. on
November 30 was $30,400,000 or an increase of $1,800,000 due to cash receipts exceeding cash
disbursements during the month.
For the month of December 2015
The December cash receipts exceeded cash disbursements by $5,954,330. The City received
$11,093,913 in property tax revenue and $2,431,357 in sales tax revenue. Large disbursements
included payments totaling $3,104,761 to PERS for employee benefits, $770,405 to Municipal
Water District of Orange County for purchased water, and $584,740 to R.J. Noble for annual
pavement maintenance.
In the month of December, the City purchased one commercial paper (0.67% for 6 months). One
Federal Home Loan Mortgage Corporation Note was called. The City's balance in L.A.I.F. on
December 31 was $23,400,000 or a decrease of $7,000,000 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 February 3, 2016 while the next quarterly Committee meeting
is to be scheduled for May 2016.
8. ATTACHMENTS 7=
Attachment A - Investment Report for October 2015
Attachment B - Investment Report for November 2015
Attachment C - Investment Report for December 2015
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