SR - - REPORTS FOR OCTOBER NOVEMBER DECEMBER 20161. SUBJECT
MONTHLY TREASURER'S REPORTS FOR OCTOBER, NOVEMBER, AND
DECEMBER 2016.
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.
16. GENERAL PLAN IMPLEMENTATION 1
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 10945 and is in accordance with the California Govermnent 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 @ 9/30/2016 $131,055,564
Monthly Activity:
Cash Received 43,658,667
Cash Disbursed ( 36,842,138)
Balance @ 12/31/2016 $137,872,093
( ' ) 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 2016
The October cash disbursements exceeded cash receipts by $3,492,801. During the month, large
disbursements included payments totaling $1,110,073 to R.J. Noble for street improvements and
annual pavement maintenance, $968,041 to PERS for employee benefits, $616,858 to Municipal
Water District of Orange County for purchased water, and $413,587 to the California State
Department of Health Care Services (DHCS) for a reimbursable advance to obtain additional
federal Medicaid dollars for unreimbursed ambulance transport services. In October, the City
received $2,883,200 in sales tax revenue.
In the month of October, we purchased one commercial paper (9 months for 1.28 %) and one
medium term note (1.55% for 5 years). One Federal National Mortgage Association Note was
called. The City's balance in L.A.I.F. on October 31 was $13,036,969 or a decrease of $2,663,031
due to cash disbursements exceeding cash receipts during the month.
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For the month of November 2016
The November cash receipts exceeded cash disbursements by $2,692,943. The City received
$3,844,100 in sales tax revenue and $2,574,851 in property tax revenue. During the month, large
disbursements included payments totaling $1,376,535 to R.J. Noble for annual pavement
maintenance and street improvements, $979,010 to PERS for employee benefits, and $515,633 to
Municipal Water District of Orange County for purchased water.
In the month of November, the City purchased one medium term note (1.75% for 2.5 years). The
City's balance in L.A.I.F. on November 30 was $16,000,000 or an increase of $2,963,031 due to
cash receipts exceeding cash disbursements during the month.
For the month of December 2016
The December cash receipts exceeded cash disbursements by $7,616,387. The City received
$11,208,897 in property tax revenue and $3,490,617 in sales tax revenue. Large disbursements
included payments totaling $980,689 to PERS for employee benefits, $434,771 to Motorola for
dispatch consoles, and $328,880 to R.J. Noble for annual pavement maintenance and street
rehabilitations.
In the month of December, the City purchased one Federal Home Loan Bank Note (1.85% for 3.5
years). One Federal Home Loan Bank Note matured. The City's balance in L.A.I.F. on December
31 was $25,100,000 or an increase of $9,100,000 due to cash receipts exceeding cash
disbursements 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 February 1, 2017 while the next quarterly Committee meeting
is to be scheduled for May 2017.
8. ATTACHMENTS
Attachment A - Investment Report for October 2016
Attachment B - Investment Report for November 2016
Attachment C - Investment Report for December 2016
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