03.04 Treasurer Report October-December 20171. SUBJECT
MONTHLY TREASURER'S REPORTS FOR OCTOBER, NOVEMBER, AND
DECEMBER 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.
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 11005 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 @ 9/30/2017 $130,112,284
Monthly Activity:
Cash Received 46,219,267
Cash Disbursed ( 44,907,367)
Balance @ 12/31/2017 $131,424,184
"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 2017
The October cash disbursements exceeded cash receipts by $4,951,525. During the month, large
disbursements included payments totaling $1,621,632 to PERS for employee benefits, $1,248,311
to Municipal Water District of Orange County for purchased water, $1,018,266 to R.J. Noble for
annual pavement maintenance, $552,367 to Express Energy for LED streetlight conversions, and
$508,723 to Big Ben for annual pipeline renewal. In October, the City received $2,878,200 in
sales tax revenue.
In the month of October, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on October 31 was $14,100,000 or a decrease of $5,200,000 due to cash
disbursements exceeding cash receipts during the month.
ITEM 2/13/18
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For the month of November 2017
The November cash receipts exceeded cash disbursements by $2,395,075. The City received
$4,795,937 in property tax revenue and $3,837,600 in sales tax revenue. During the month, large
disbursements included payments totaling $1,646,065 to PERS for employee benefits, $1,549,523
to R.J. Noble for annual pavement maintenance, and $877,809 to Municipal Water District of
Orange County for purchased water.
In the month of November, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on November 30 was $12,800,000 or a decrease of $1,300,000 due to
withdrawal of funds for payroll disbursements on December 1.
For the month of December 2017
The December cash receipts exceeded cash disbursements by $3,868,350. The City received
$9,754,702 in property tax revenue and $3,955,949 in sales tax revenue. Large disbursements
included payments totaling $2,134,260 to PERS for employee benefits, $859,958 to Municipal
Water District of Orange County for purchased water, and $676,929 to R.J. Noble for annual
pavement maintenance.
In the month of December, no investments were purchased, matured or were called. The City's
balance in L.A.I.F. on December 31 was $21,000,000 or an increase of $8,200,000 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 February 7, 2018 while the next quarterly Committee meeting
is to be scheduled for May 2018.
8. ATTACHMENTS
Attachment A
- Investment Report for October 2017
Attachment B -
Investment Report for November 2017
Attachment C -
Investment Report for December 2017
ITEM
2/13/18
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CITY COUNCIL MINUTES FEBRUARY 13, 2018
RECESS: The City Council took a short recess at 7:54 p.m. and reconvened at 8:05 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 January 5, January 11, January 19, January
25, and February 2, 2018. (C2500.J.1.7)
ACTION: Approved.
3.2 City Council Minutes, Regular Meeting of January 9, 2018. (C2500.D.4)
ACTION: Approved.
3.3 Waive reading in full of all ordinances on the Agenda.
ACTION: Approved.
3.4 Monthly Treasurer's Reports for October, November, and December 2017. (C2500.F)
ACTION: Received and filed.
3.5 Appropriation of funds received from the State of California Office of Emergency
Services. (C2500.H)
ACTION: Accepted into the City's revenue budget a total reimbursement of $524,907.26
in reimbursement payments into account number 100.3021.48212 — Reimbursement from
OES; and authorized the appropriation into expenditure account number 100.3021.50221
— Overtime- Safety, within the project numbers and amounts as follows:
Project Expenditure
Description of Expenditure Account Amount
Spillway /Butte Incident 40145 $1,460.72
Jameson Staging Fire 40163 1,942.01
Alamo Fire 40153 117,438.63
Garza Fire 40155 18,188.20
Jennings 2 Fire 40156 13,091.78
Whittier Fire (1s Invoice) 40157 12,840.20
Whittier Fire (2n Invoice) 40157 49,356.53
Detwiler Fire 40158 162,898.57
Park Fire 40159 30,065.15
Parker 2 Fire 40160 13,196.55
Orleans Complex 40161 16,548.06
Pier Fire 40165 87,880.86
Total: $524,907.26
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