SR - - MONTHLY TREASURERS REPORTS APRIL MAY JUNE 20171. SUBJECT
MONTHLY TREASURER'S REPORTS FOR APRIL, MAY, AND JUNE 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.
1 5. STRATEGIC PLAN GOAL(S)
2d. Be a Fiscally Healthy Community — Effectively manage and develop City assets.
G. GENERAL PLAN IMPLEMENTATION
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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
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 @ 3/31/2017 $149,417,010
Monthly Activity:
Cash Received 54,697,666
Cash Disbursed ( 39,319,136)
Balance @ 6/30/2017 $164,795,540
( ' ) 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 2017
The April cash receipts exceeded cash disbursements by $7,517,317. The City received
$8,947,352 in property tax revenue, and $2,593,400 in sales tax revenue. During the month, large
disbursements included payments totaling $990,008 to PERS for employee benefits, $235,792 to
NKS Mechanical for replacement of the heating and air conditioning units at City Hall, and
$221,243 to Ford of Orange for purchase of miscellaneous service and police vehicles.
In the month of April, the City purchased one Federal Farm Credit Bank Note (1.625% for 2.75
years) and one medium term note (1.1% for 2.25 years). The City's balance in L.A.I.F. on April
30 was $33,700,000 or a slight decrease of $100,000 due to the investment activity during the
month.
For the month of May 2017
The May cash receipts exceeded cash disbursements by $6,804,250. During the month, the City
received $6,134,715 in property tax in lieu of motor vehicle license fees, $3,457,700 in sales tax
revenue, and $795,815 in property tax revenue. Large disbursements included payments totaling
$1,713,248 to Bentley and More LLP for claim settlement, $993,895 to PERS for employee
benefits, and $220,572 to Convergint Technologies for the Metrolink Parking Structure video
surveillance system.
In the month of May, one Federal Farm Credit Bank Note matured. The City's balance in L.A.I.F.
on May 31 was $46,800,000 or an increase of $13,100,000 due to cash receipts exceeding cash
disbursements and the investment activity during the month.
For the month of June 2017
The June cash receipts exceeded cash disbursements by $1,056,963. The City received $6,268,994
in property tax revenue ($4,991,937 as property tax increment collected for the Successor Agency
and $1,277,057 for the City) and $4,186,973 in sales tax revenue. Large disbursements included
payments totaling $3,271,677 to Motorola for police radio equipment, $1,176,208 to PERS for
employee benefits, $1,083,870 to EBR Escrow for the closing costs of two properties on N.
Cypress Street, $512,734 to Software One for Microsoft licenses renewal, and $437,649 to All
American Asphalt for street rehabilitation.
In the month of June, we purchased one medium term note (2% for 3.5 years). One Federal Farm
Credit Bank Note and one commercial paper matured. One Federal Home Loan Bank Note was
called. The City's balance in L.A.I.F. on June 30 was $53,100,000 or an increase of $6,300,000
due to cash receipts exceeding cash disbursements and the investment activity in this 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 2, 2017 while the next quarterly Committee meeting is
to be scheduled for November 2017.
8. ATTACHMENTS
Attachment A - Investment Report for April 2017
Attachment B - Investment Report for May 2017
Attachment C - Investment Report for June 2017