SR - - MONTHLY TREASURER'S REPORTS FOR JANUARY FEBRUARY MARCH 20171. SUBJECT
MONTHLY TREASURER'S REPORTS FOR JANUARY, FEBRUARY, AND MARCH
2017.
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
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
16. GENERAL PLAN IMPLEMENTATION I
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 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 @ 12/31/2016 $137,872,093
Monthly Activity:
Investment Interest in Transit 5,253
Cash Received 49,337,344
Cash Disbursed ( 37,797,680)
Balance @ 3/31/2017 $149,417,010
( ' ) 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 2017
The January cash receipts exceeded cash disbursements by $5,880,371. The City received
$6,198,069 in property tax in lieu of motor vehicle license fees, $5,466,609 in property tax revenue
($2,967,057 for the City and $2,499,552 as property tax increment collected for the Successor
Agency), and $2,910,000 in sales tax revenue. During the month, large disbursements included
payments totaling $4,593,815 to Orange County Water District for pumping assessments and
$1,262,369 to PERS for employee benefits.
In the month of January, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on January 31 was $35,500,000 or an increase of $10,400,000 related to cash
receipts exceeding cash disbursements.
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OPrinted on Recycled Paper
For the month of February 2017
The February cash receipts exceeded cash disbursements by $5,524,704. The City received
$3,880,000 in sales tax revenue. During the month, large disbursements included payments
totaling $1,338,763 to U.S. Bank for debt service, $983,686 to PERS for employee benefits, and
$696,676 to R.J. Noble for annual pavement maintenance.
In the month of February, we purchased one Federal National Mortgage Association Note (1.85%
for 3.5 years). The ending balance in L.A.I.F. on February 28 was $32,600,000 or a decrease of
$2,900,000 due to the investment activity during the month.
For the month of March 2017
The March cash receipts exceeded cash disbursements by $134,589. The City received $3,643,280
in sales tax revenue and $1,643,389 in property tax revenue. Large disbursements included
payments totaling $1,042,639 to U.S. Bank for debt service, $987,309 to PERS for employee
benefits, $468,804 to Ford of Orange for purchase of miscellaneous service and police vehicles,
and $168,745 to Vailston for sewer line replacement.
In the month of March, no investments matured or were called. The City's balance in L.A.I.F. on
March 31 was $33,800,000 or an increase of $1,200,000 related to cash receipts exceeding cash
disbursements.
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 3, 2017 while the next quarterly Committee meeting is to
be scheduled for August 2017.
8. ATTACHMENTS
Attachment A - Investment Report for January 2017
Attachment B - Investment Report for February 2017
Attachment C - Investment Report for March 2017
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