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06-13-2000 CC Rpt A05 I S >= Lea:t'eL COUNCIL AGENDA STAFF REPORT CITY CLERK USE ONLY RE :7i'`` ED Meeting Date: June 13, 2000 '00 JUN —5 A 8 50 Public Hearing: ❑ Discussion Item: 0 io•�,�o Consent Item: 0 OFFIr OF CITY CLEY`c JUNE 6, 2000 CHINO HILLS TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: TREASURER'S REPORT FOR APRIL 2000 RECOMMENDATION: It is recommended that the City Council: 1. Approve the Treasurer's Report for April 2000; and 2. Authorize staff to continue investing all of the City's funds in State and County investment pools. BACKGROUND/ANALYSIS: The Treasurer's Report for April 2000 may be seen in Exhibit A (attached). The amount of cash and investments for all funds amounts to $106,186,173.04. The amount of cash shown in the checking accounts may be either a positive or negative (overdrawn) amount, depending on whether or not there is an opportunity to invest the "float" amount. It is the Treasurer's intention to invest all cash not needed for the immediate cash flow needs of the City. The cash flow for all major fund types is also reported in Exhibit A. As shown, the City's cash reserves, coupled with the month's cash receipts, are sufficient to meet the City's cash disbursement requirements for the month. Additionally, there are sufficient reserves and forecasted cash receipts to meet the City's future cash disbursement needs. Attached are copies of the summary reports received from the agency pools in which the City invests. Due to the different styles and lengths of reports, only summary information is excerpted from the reports and attached as exhibits to the Treasurer's Report. Additionally, the agencies reports that will be attached to the City Treasurer's Report may not necessarily correspond according to dates, due to the lag time in producing and mailing these reports. Included in Exhibit A is a column showing the market value of investments the City has in the various pooled investment accounts. The investment pools provide the market valuation information for the total pool and City staff then calculates and reports the City's pro rata share of the market valuation amount. • AGENDA DATE: JUNE 13, 2000 SUBJECT: TREASURER'S REPORT FOR APRIL 2000 PAGE TWO The market value may show unrealized gains or losses for the pooled investments. This does not mean that the pool has actually gained or lost any money on these transactions; it just shows what would have occurred if the pool had redeemed any of the investments as of the date of the report. Typically, the pools may not actually earn many gains nor suffer any losses, since the pools hold the investments to their maturity dates. As a reminder, for interest bearing instruments (which usually comprise most, if not all, of the pools' investments), a change in the market rate of an instrument will cause the value of the instrument to change. For example, when the interest rates increase, the value of bonds, notes, and other interest-rate-sensitive investments will decrease. Conversely, when the market interest rates decrease, the value of bonds, etc., will increase. But the risk of any actual loss (or gain) occurs only if the bonds or other investments are sold before their maturity date. If the investments are held until their maturity date,the investor will receive the total principal of the investment as well as any interest earned on the investment. Due to the City having limited staff and resources, it is recommended that the City continue investing all funds in State and County investment pools as a prudent means of balancing investment returns with the costs of investment activities. FISCAL IMPACT: In accordance with California Government Code, the Finance Director/City Treasurer certifies that sufficient investment liquidity, as well as sufficient anticipated revenues, are available to meet the City's budgeted expenditure requirements for the six months ending October 31, 2000. The investments reported in the Treasurer's Report are in compliance with the City's Investment Policy. espectfully submitted, Recommended by: Abc,&. Ain =cAilAt4/.. •11:1fs N. La Belle, CityManagerMcCartney,tanSMcCartne , Finance Dire or DLB:SCM:ssr Att. C:AGENDA\TRSTFRPTAPROO • 0 EXHIBIT A 0 CITY OF CHINO HILLS TREASURER'S REPORT April 2000 I. Funds Held by City and Fiscal Agents: A. Funds Held by City: Market Investments Cost Value San Bernardino County Pooled Funds of Investments (SBCPFI) (6)$ 33,621,545.77 $ (1) Los Angeles County Pooled Funds of Investments (LACPFI) (5) 46,503,364.77 (1) State of California Local Agency Investment Fund (LAIF) 19,159,831.54 (1) Total Investments 99,284,742.08 (2) Cash Bank of America -Checking 177,422.47 177,422.47 Bank of America - Payroll 10,000.00 10,000.00 Total Cash in Bank 187,422.47 187,422.47 Petty Cash 3,450.00 3,450.00 Total Cash 190,872.47 190,872.47 Total Funds Held by City 99,475,614.55 (2) B. Funds Held by Fiscal Agents: U.S. Bank 5,559,728.55 (3) State Street Bank 1,429.91 (3) Harris Bank 1,149,400.03 (3) Total Funds Held by Fiscal Agents 6,710,558.49 (3) Total Funds Held by City and Fiscal Agents $ 106,186,173.04 (2) II. Estimated Composite Investment Earnings Rate: 5.78% (Estimated Investment Earnings Rate for SBCPFI :5.53%;&LAIF :5.80%; Actual Investment Earnings Rate for LACPFI :5.97%.) III. Cash Flow Transactions by Major Fund Types: Beginning Ending ' Cash Balance Cash Cash Cash Balance Fund 04/01/00 Receipts Disbursements 04/30/00 General Fund $ 19,047,887.80 $ 2,067,284.79 $ (1,258,026.31) $ 19,857,146.28 Water Funds 11,978,673.69 1,401,763.42 (986,861.13) 12,393,575.98 Sewer Funds 6,545,098.74 412,759.42 (189,056.92) 6,768,801.24 Parks & Landscape 7,602,670.51 2,103,599.58 (172,201.90) 9,534,068.19 Development Funds 15,183,730.25 202,668.66 (1,783,684.24) 13,602,714.67 Comm. Facilities Dist. 17,093,690.00 2,637,173.76 (66,823.32) 19,664,040.44 Assessment Districts 4,797,193.44 1,372,639.12 (929,550.19) 5,240,282.37 Miscellaneous Funds 18,517,101.15 2,744,996.32 (2,136,553.60) 19,125,543.87 Total $ 100,766,045.58 $ 12,942,885.07 $ (7,522,757.61) $ 106,186,173.04 . . SEXHIBIT A CITY OF CHINO HILLS TREASURER'S REPORT April 2000 Page 2 of 2 IV. Funds Held byDw7mnCompensation Market Month Ending April 30, 2000 Value N/AAetna L�eInsurance and AnnuU*Oonnpony , '/4) 1,082,174.99 |CYWA Total Funds Held by Deferred Compensation Providers $ 1.082.174.89 Footnotes: (1)The calculation of the allocation of the City's market value is not provided by the investment pool. (2)Total market valuation cannot be determined since the market value for all investment pool accounts is not available. (3)The most current bank statements available for the Reassessment District 94 and 95 bonds are as of March 31, 2000; these reports are issued on a quarterly basis. The market valuation for all fiscal agents is not available. (4)The market valuation is not available as of the date of this report. (5)The County of Los Angeles Investment statement is not available as of the date of this report (6)The San Bernardino County Detail of Securities Held is not available as of the date of this report. V. Certifications: In accordance with the California Government Code, the Finance Director/City Treasurer certifies that the investments reported in the Treasurer's Report comply with the City's Investment Policy and that sufficient liquidity, as well as sufficient anticipated revenues, are available to meet the City's budgeted expenditure requirements for the six months ending October 31, 2000. ',7°. 614-11. � p�_ tan McCartney Finance Director/City Treasurer City of Chino Hills Treasurer's Report Worksheet General Water Sewer Parks& Development Comm.Facilities Assessment Miscellaneous Fund Funds Funds Landscape Funds District Districts Funds Total Funds Held by City: Beginning Book Balance A04/01/00 19,047,887 80 11,977,475.87 6,545,098.74 7,602,670.51 15,183,730 25 14,221,607.86 1,462,904 20 18,405,655 87 94,447,031.10 Cash Receipts 2,067,284.79 1,401,748.95 412,759.42 2,103,599.58 202,66866 2,568,751 07 680,46346 2,740,13088 12,177,40681 Cash Disbursements (1,258,026 31) (986,861.13) (189,056 92) (172,201 90) (1,783,684 24) (66,823 32) (666,084 07) (1,604,744 33) (6,727,482 22) Journal Entnes For Month (421,421 32) (421,421.32) Ending Book Balance A04/30/00 19,857,146 28 12,392,363 69 6,768,801.24 9,534,068 19 13,602,714 67 16,723,535 61 1,477,283.59 19,119,621 10 99,475,534 37 Reconciling Transactions 80 18 80 18 Ending Bank Balance Funds Held by City 19,857,146 28 12,392,363 69 6,768,801 24 9,534,068 19 13,602,714 67 16,723,535 61 1,477,283 59 19,119,701 28 99,475,614 55 II Funds Held by Fiscal Agent: Beginning Book Balance 004/01/00 1,197 82 2,872,082 14 3,334,289 24 111,445 28 6,319,014 48 Cash Receipts 14.47 68,422 69 692,175 66 12 74 760,625 56 Cash Disbursements 0 00 0.00 (263,466.12) (263,466.12) Journal Entries For Month (110,387.95) __(110,387 95) Ending Book Balance @ 04/30/00 0.00 1,212 29 0 00 0.00 0.00 2,940,504.83 3,762,998.78 1,070 07 6,705,785 97 Reconciling Transactions 4,772.52 4,772 52 Ending Bank Balance Funds Held by F/A 0 00 1,212 29 0 00 0.00 0.00 2,940,504 83 3,762,998.78 5,842 59 6,710,558.49 Summary of Cash Balances Beginning Cash Balance. _ __ Funds Held by City 19,047,887 80 11,977,475 87 6,545,098 74 7,602,670 51 15,183,730.25 14,221,607 86 1,462,904 20 18,405,655 87 94,447,03 10 Funds Held by Fiscal Agent 1,197 82 2,872,082.14 3,334,289 24 111,445.28 6,319, Total Beginning Cash Balance. 19,047,887 80 11,978,673 69 6,545,098 74 7,602,670 51 15,183,730 25 17,093,690 00 4,797,193 44 18,517,101 15 100,766 Ending Cash Balance. Funds Held by City 19,857,146.28 12,392,363 69 6,768,801 24 9,534,068 19 13,602,714.67 16,723,535 61 1,477,283.59 19,119,701 28 99,475,614.55 Funds Held by Fiscal Agent 1,212 29 2,940,504.83 3,762,998.78 5,842 59 6,710,558 49 Total Ending Cash Balance 19,857,146.28 12,393,575 98 6,768,801 24 9,534,068.19 13,602,714 67 19,664,040 44 5,240,282 37 19,125,543.87 106,186,173 04 PGM : FZ365 DETAIL REVENUE TRANSACTION LISTING BY REVENUE SOURCE PAGE: 342.$ TIME: 06:48:33 ACCOUNTING PERIOD 10 - 04/2000 DATE: 04/30/2000 FUND/DEPT/ORG1: SED 100 100 CHINO HILLS NO HILLS CHINO HILLS TRP DATE ORG GRC TRANSACTION ID DESCRIPTION/VENDOR REVENUE RECEIVED IIIIVENUE BUDGET aaa BUDGET FISCAL YEAR 2000 aaa 8145 INT 6 PEN DE DETAIL 8145 .00 .00 , BAL FORWARD 8145 .01 .00 ENDING BAL 8145 .01 .00 REMAINING BURG 8145 .01- 8235 SUPP ROLL PR 04/11/2000 100 JVPT 20000411041 COLL 04/03/2000 TO 04/10/20 .15 .00 DETAIL 8235 .15 .00 HAL FORWARD 8235 .11- .00 ENDING SAL 8235 .04 .00 REMAINING BUDG 8235 .04- 8500 INTEREST 04/21/2000 100 JVTZ RT000411030 APPORT INTEREST 527,674.84 .00 DETAIL 8500 527,674.84 .00 BAL FORWARD 8500 1,072,979.05 .00 ENDING BAL 8500 1,600,653.89 .00 REMAINING BUDG 8500 1,600,653.89- 9984 OTHER DETAIL 9984 .00 .00 BAL FORWARD 9984 199,929.24 .00 ENDING BAL 9984 199,929.24 .00 REMAINING BUDG 9984 199,929.24- BUDGET FISCAL YEAR 2000 DETAIL FY 527,674.99 .00 BUDGET FISCAL YEAR 2000 HAL FORWARD FY 1,272,908.19 .00 BUDGET FISCAL YEAR 2000 ENDING BAL FY 1,800,583.18 .00 BUDGET FISCAL YEAR 2000 REMAINING BUDG FY 1,800,583.18- 100/100 CHINO HILLS CHINO HILLS DETAIL DEPT/ORG1 527,674.99 .00 100/100 CHINO HILLS CHINO HILLS SAL FORWARD DEPT/ORG1 1,272,908.19 .00 100/100 CHINO HILLS CHINO HILLS ENDING BAL DEPT/ORG1 1,800,583.18 .00 100/100 CHINO HILLS CHINO HILLS REMAINING BUDG DEPT/ORG1 1,800,583.18- CITY OF CHINO HILLS (CM002 ) PACKET PAGE NUMBER 8 aaa &rano, loo WA Teams:16 i. ,-d :wr•a leas fs/i•bemv7:6a PGM : FZ365 DETAIL REVENUE TRANSACTION LISTING BY REVENUE SOURCE PAGE: 3424 TIME: 06:48:33 ACCOUNTING PERIOD 10 - 04/2000 DATE: 04/30/2000 FUND/DEPT/ORG1: SED CHINO HILLS TRN DATE ORG GRC TRANSACTION ID DESCRIPTION/VENDOR REVENUE RECEIVED REVENUE BUDGET SED CHINO HILLS DETAIL FUND 527,674.99 .00 SED CHINO HILLS BAL FORWARD FUND 1,272,908.19 .00 SED CHINO HILLS ENDING BAL FUND 1,800,583.18 .00 SED CHINO HILLS REMAINING BUDG FUND 1,800,583.18- SED CHINO HILLS BEGINNING HAL - CASH IN COUNTY TREASURY 091.820.78 SED CHINO HILLS ENDING HAL - CASH IN COUNTY TREASURY 33,621,545.71", C. , r C CID CITY OF CHINO HILLS (CM002 ) PACKET PAGE NUMBER 9 aae ' • $1'ATE OF CALIFORNIA 0 • PHILIP ANGELIDES. Treasurer . OFFICE OF THE TREASURER SACRAMENTO Local Agency Investment Fund PO Box 942809 Sacramento, CA 94209-0001 (916) 653-3001 April, 2000 Statement CITY OF CHINO HILLS Account Number : 98-36-151 Arm FINANCE DIRECTOR 2001 GRAND AVENUE CHINO HILLS CA 91709 Transactions Effective Transaction Tran Confirm Authorized Amount Date Date Type Number Caller 04-14-2000 04-13-2000 QRD SYSTEM 276,876.57 Account Summary Total Deposit : 276,876.57 Beginning Balance : 18,882,954.97 Total Withdrawal : 0.00 Ending Balance : 19,159,831.54 • A Page : 1 of 1 • • 110 State of California l Pooled Money Investment Account I Market Valuation 4/30/00 l„"µ `,:;[. h� A11 xit•;r ,-1 � ;r:. i :':"„',�•:,w+,':jCarryirig(Cost'Plu" s: '1'1 ; ; h ,», r . . • . .. . -• LAIF L.tA,. , E .N WS .. . • ..:...., . N. , . . ,I . . . . : ' 'k,� • ;',F'�'' A i ril 2000 ," - ' • • LOCAL AGENCif INVESTMENT, FUND '' °J' 'r, '.SMAYOF AI ., , .,,•„., `t' ' �„ � , ',i' -' tiI'- ; , ,°'t-.{ '`a: .t`'''.is .jy ,1ti:APRIL' 2000,.--,f' r;• _ . { , ,' f ;;: ` sr};? / ,,•,,,,,,,=,-,:,:'..i.,' '.4•;-.f.,...; •�'' 'L - ,1" }•' ;;;`1,.. " yi.4..... -",- 1' .-fµ,. t;.r - '�. +.2e'• o-' `ii ' t�t; ,5yi7,; �i,i +�! - i3: ;, y - - ,. t.Jt,., Y BEGINNING-BALANCE„‘.,,, '• DEPOSITS . -'!'; -WITHDRAWALS'- ',0-' ,MONTH END BALANCE '$12,479;415•;3.57:70`at a'L $2,0271,023• 441.07';" .'$1,231,847,4••08:05,::';'" `�;�,,$13,274,59;1,390:, •72• :i',`t?`'n.• 4,wc,:,z ,ft,'. t;a'`,1 ; v4^ ',':,J P ,.` { .4 ,,�• -•t,••;' p, t ,r4.,j .r - - '>j= r a •1 .�s i,. i4 r '•f�- ' 1 k' "#s.4 n,h.4,'.,, ,(`.�,:',?, .r� •ir`+, ..f; _3 r««^{ ;� > ;,{,t' �, 'i'; ,?`,,:; '1+?,',;`° r ,111$,2",.'t; , ,',.1,i;v„•' ' tif, '`= r•i,;w-;.,•(,.'� N,h, , : "t :�ab s .„,r-. �;:. `f G r4,,.# ':;�;�i -}. ,'K„",l},,S .�':N? �,. h,,1+.c"ics'�m � t�.'rz, t., .rt"tl.•,M. �7,,,,,,,t',. .'„1-,2,'.,''.'„;.,-..;, "S°{ i„:'�;°k1•s ;POOL•ED MONEY INVE� M'E T: , t, r. :.:- '.1--,i7''','"- _.,,a� ":.P. •y:. t x, ST N ,ACCOUNT.- E, ,� ,-;_ r ' zy:+•,�.•y+�'y�:{�tL;Y�Y'S':tt`„,�4�.:,`i��•1^:=r•;%n�.��. ";:i•,,f tY: i ';Cvy,_<<.�+.r, _ ,' ,2 n+!.:S't�;.E;;J: t},.��,y:+Y,:.:',?-•'•�h�-'a,. `t•Ylsrf`i., .11`ut`',''t. r„, .�-:: t#`',,A i`'' , `SUMMARY'OF. INVE - .�' • t,",;, ,2 Z;-),: ,. -�'. : .1 ; ,.;'a;^,'`"'f; STMENT'•DATA:' ,'' ' ' Yin: l}- Y�IC ;'#;:''rF•',<,: `",i,�ti'; ,t. •;se ,t_ ;P,,.5'' - N -,,r, ,:a',;' ~ ,. ,'a.�, .r `a$•,.;_'?H:dv a.-.-u?,`: .t.tl%ny."..,v, t• �W- _ • tt: ,�.n!. ,Y7. �� .``;4 ::T 'COMPARISN• F`-APRI a- ,, `;