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11-08-1994 CC Rpt A04 • � L E F dize- CITY OF CHINO HILLS CITY COUNCIL: ED M. GRAHAM 2001 GRAND AVENUE ,.Y;. y - �` GARY G. LARSON V'3. CHINO HILLS, CALIFORNIA 91709-4869 GWENN E.NORTON-PERRY J •. ,z,ar, (909) 590-1511 •(909) 590-5646 FAX JAMES S.THALMAN MICHAEL G. WICKMAN • • CITY OF CHINO HILLS APPROVED FOR CITY COUNCIL INCORPORATED 1991 October 25, 1994 Finance: ,4,' < (c z 4,/9y Agenda date: November 8, 1994 City Manager: o 1414 TO: CITY MANAGER/CITY COUNCIL �1 FROM: STAN McCARTNEY, FINANCE DIRECTOR/CITY TREASURER SUBJECT: TREASURER'S REPORT FOR SEPTEMBER, 1994 RECOMMENDATION: That the City Council approve the Treasurer's Report for September, 1994. DISCUSSION/JUSTIFICATION: The Treasurer's Report for September, 1994 may be seen in Exhibit A (attached). The amount of cash and investments for all funds amounts to $81 ,459,933.89. 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 months 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. REVIEW BY OTHERS: None FINANCIAL IMPACT: In accordance with California Government Code Section 53656, 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 month of October, 1994. Respectfully Submitted, AZA„,,_414-2 Stan McCartney, Finance Director/City Treasurer • • EXHIBIT A CITY OF CHINO HILLS TREASURER'S REPORT SEPTEMBER 1994 I. CASH AND INVESTMENTS BY CATEGORIES : Investments Amount San Bernardino County Pooled Funds of Investments (SBCPFI) $65,475,931.94 Los Angeles County Pooled Funds of Investments (LACPFI) $3,893,044.89 State of California Local Agency Investment Fund (LAIF) $13,079,897.26 Total Investments 82,448,874.09 Cash Bank of America-Checking (995,190.78) Bank of America- Payroll (924.42) Total Cash in Bank (996,115.20) Petty Cash & Imprest Checking 7,175.00 Total Cash (988,940.20) TOTAL CASH AND INVESTMENTS $81,459,933.89 II. ESTIMATED COMPOSITE INVESTMENT EARNINGS RATE : 6.56% (Estimate Investment Earnings Rate for SBCPFI :6.97%; Actual Investment Earnings Rate For LACPFI :4.87%; &LAIF : 4.96%.) III. CASH FLOW TRANSACTIONS BY MAJOR FUND TYPES : Beginning Ending Cash Balance Cash Cash Cash Balance Fund 9/1/1994 Receipts Disbursements 9/30/1994 General Fund $4,372,522.34 $666,086.44 ($897,719.55) $4,140,889.23 Water Funds 7,940,115.54 1,079,412.48 (445,058.85) 8,574,469.17 Sewer Funds 2,793,194.71 245,293.03 (220,751.69) 2,817,736.05 Lighting & Landscape 14,439,479.05 28,329.45 (372,254.72) 14,095,553.78 Development Funds 5,370,229.10 541,335.82 (1,632,131.36) 4,279,433.56 Comm. Facilities Dist. 15,534,831.97 455.39 (339,050.48) 15,196,236.88 Assessment Districts 16,133,091.79 2,215,091.72 (2,140,375.00) 16,207,808.51 Miscellaneous Funds 16,775,018.04 1,343,640.38 (1,970,851.71) 16,147,806.71 TOTAL $83,358,482.54 $6,119,644.71 ($8,018,193.36) $81,459,933.89