HomeMy WebLinkAboutAGENDA REPORT 2001 1205 CC REG ITEM 11GITEM 0- �
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Dana Shigley, Administrative Services Dire t
DATE: November 19, 2001 (CC Meeting of 12/5/01)
SUBJECT: Consider Quarterly Treasurer's Report
SUMMARY
The Quarterly Treasurer's Report for the fiscal quarter ended
September 30, 2001 is submitted, as required by Government Code
and Moorpark Municipal Code.
DISCUSSION
For the quarter ended September 30, there are a couple of
noteworthy items in the Treasurer's Report. First, the balances
held in the city's general checking account dropped from nearly
$9 million to $300,000 during this quarter. This is the result
of improved cash management and the investment of these excess
funds in securities. Second, note that for the quarter, city
expenses exceeded revenues. This is very typical for this time
of year. The quarter ended December 31, when property tax
revenues are received, will likely show revenues in excess of
expenses. Finally, for the quarter ended September 30, the LAIF
rate was approximately 4.5°, compared to an average of 3.7% for
the other securities in the portfolio. However, as of the date
of this report, the LAIF rate had dropped to 3.50, and is
expected to drop further, while the rate on other securities
remains at about 3.70.
STAFF RECOMMENDATION
Receive and file Quarterly Treasurer's Report.
'iHt"
City of Moorpark
Treasurer's Report
For Quarter Ended September 30, 2001
Fiscal Year 2001 -02
L
t�
City of Moorpark
Treasurer's Report
For the quarter ended September 30, 2001
With comparison to the quarter ended June 30, 2001
Moorpark
City of Moorpark Redevelopment Agency
Book Book
Value % Value %
Unrestricted Cash:
General account $ 301,090.04
Petty cash 1,100.00
Restricted Cash:
100%
34.898,871.29
Cash with fiscal agent
-
0%
Total Cash
302,190.04
Investment Portfolio:
11,992,338.42
26%
Local Agency Investment Fund
26,797,918.11
69 %
Certificates of Deposit
8,104,281.18
0%
US Treasurys /Agencies
11,992,338.42
31%
Common Stock
-
0%
Total Investments
38,790,256.53
100%
Total Cash /Cash Equivalents
$ 39,092,446.57
$ 242,888.66
1,333,164.34
1,333,164.34
1,576,053.00
Combined Total
Book
Value %
$ 543.978.70
1,333,164.34
1,333,164.34
1,878,243.04
8,100,953.18
100%
34.898,871.29
74%
0%
-
0%
0%
11,992,338.42
26%
3,328.00
0.04%
3,328.00
0.01%
8,104,281.18
100%
46,894,537.71
100%
$ 9,680,334.18
$
48,772,780.75
Combined Total
June 30, 2001
Book
Value Change
$ 9,182,596.61
779,812.90
779,812.90
9,963,509.51
32, 598, 311.80
5,974,091.22
3,328.00
38,575,731.02
$ 48,539,240.53
Schedule 1
$ (8.638,617 91)
(8,638,617.91)
553,351.44
553,351.44
(8,085,266.47)
85% 2.300,559.49
0%
15% 6,018,247.20
0.01%
100% 8,318,806.69
$ 233,540.22
Total Demand Investments $ 26,797,91811 69% $ 8,100,953.18 100% $ 34,898,871.29 74% $ 32,598,311.80 85%
In compliance with the California Governmental Code Section 53646, the Treasurer of the City of Moorpark hereby certifies that sufficient investment liquidity and
anticipated revenues are available to meet the City's budgeted expenditure requirements for the next six months.
This investment report conforms with the City of Moorpark's current Investment Policy approved by the City Council on October 17, 2001.
rectfully submitted.
CL)
Dana Shigley, Treasurer
9 -30.01 Investment Repo f 1 111 91200 1
Page 1 of 3
The investment portfolio conforms with the City of Moorpark's Investment Policy adopted by the City Council on October 17, 2001 and meets the "prudent investor requirement.
r;
9 30 -01 Investment Report 11/19/2001
Page 2 of 3
City of Moorpark
Schedule 2
Investment Portfolio
Quarter
ended September 30, 2001
Quarter ended
Interest
September 30, 2001
Received/
Purchase
Maturity
Days to
Premium
Book
Market
Accrued
Amortized
Type Issuer Broker Shares
Price Date
Date
Maturity
CUSIP
Rate Yield Par
(Discount)
Cost
Value
Value
Interest
This Quarter
City of Moorpark
LAIF State of California n1a
n/a
Demand
n/a
447% 447%
5 26.797.918 11
S 26.797.918 11
S 26.797.918.11
S 310.396 44
S 379.103 10
US US Treasury Note
131 3:375 15-Jun-01
31 -Jan -03
595
912795.13
4 75% 3 887 % S 3.000.000 5 40.312 50
3.040.312 50
3.033.091 52
3.082.500 00
24.145 83
5.67034
US US Treasury Bill rd, Discount
9769/23 15 -Jun -01
28- Feb -02
258
9V877656
Na 3.342% 3.000,000
(69.23000)
2.930.770.00
2,959.246.90
2.971.00000
24.45186
US FHLB U Callable Bonds
J. 9 -Jul -01
9- Jan -03
549
311A'i`R:3
420% 1257% 3.000.000
3.000 000.00
3.000.000 00
3.000.930 00
29.050 00
US FFCS Discount Note
99839,11 11 -Jul -01
27- Jul -01
16
s1313_RO
nla 1676% 3.000.000
(4.826.67)
2.995.17333
4,82667
US FHLMC U Medium Term Note Callable
nS, 30 -Jul -01
30- Jan -03
549
3179234x4
465% 4650% 3.000.000
-
3,000 000.00
3.000.000 00
3.004.050 00
24 025 00
Total US
14.966155 83
11.992.338 42
12.058.480 00
77.220 83
34.948 87
Grand Total
S 41,764,173.94
S 38,790,256.53
S 38.856,398.11
S 387,617.27
S 414,051.97
US Treasunes/Agencles Market Value per Bank of America. NA Cliont Safekeeping Statement for quarter ended September 30. 2001
Note Tne S3 million @ 4 2% Federal Home Loan
Bank Unsecured Bonds were called on October 9,
2001
Moorpark Redevelopment Agency
LAIF State of California We
rva
Demand
n/a
447% 447%
S 8.100.953 18
S 8.100.953 18
S 8.100.953 18
S 79.763 9/
S 71.456 39
CS Walt Disney Company ka�- i Lyw 133
$ 1862 Na
n/a
nla
254687196
n/a
3.32800
2.47646
Grand Total
S 8,100,953.18
S 8,104,281.18
$ 8,103,429.64
$ 79.763.97
S 71,456.39
The investment portfolio conforms with the City of Moorpark's Investment Policy adopted by the City Council on October 17, 2001 and meets the "prudent investor requirement.
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9 30 -01 Investment Report 11/19/2001
Page 2 of 3
t
City of Moorpark
Investment Report
Activity for Quarter ended September 30, 2001
Cash with Fiscal Agent:
Balance forward
E
Moorpark
Total
779,812.90
City of
Redevelopment
Book Market
Moorpark
Agency
Value Value
General Operating Cash:
529,231.14
Revenues
Balance forward
$ 8,814,656.38
$ 367,940.23
$ 9,182,596.61
Revenues
5,619,977.74
254,179.57
5,874,157.31
Expenditures
6,138,370.75
-
6,138,370.75
Revenues over expenditures
(518,393.01)
254,179.57
(264,213.44)
Other Revenues /Expenditures:
Revenues over expenditures
LAW withdrawals
3,000,000.00
450,000.00
3,450,000.00
LAIF deposits
$
(5.300.000.00)
(5,300,000.00)
Purchase US Treasury/Agencies
(8,995.173.33)
(8,995,173.33)
Maturities US Treasury/Agencies
3,000,000.00
Balance forward
3,000,000.00
Transfers in /(out)
(5,000,000.00)
4,470.768.86
(529,231.14)
Total Other
(7,995,173.33)
(379,231.14)
(8,374,404.47)
Ending Balance
$ 301,090.04
$ 242,888.66
$ 543,978.70 $ 543,978.70
Cash with Fiscal Agent:
Balance forward
E
- $ 779,812.90
$
779,812.90
Interest earned
24,120.30
24.120.30
Transfers in
529,231.14
529,231.14
Revenues
- 553,351.44
553,351.44
Release retention
Debt service payments
Expenditures
-
Revenues over expenditures
553,351.44
553,351.44
Ending Balance
$
$ 1,333,164.34
$
1,333,164.34 1,333,164.34
Petty Cash:
Balance forward
$
1,100.00
$
1,100.00
Ending Balance
$
1,100.00 $ -
$
1,100.00
The general operating account is subject to Bank of America compensating balance requirements to offset banking activity charges
9 -3001 investment Report 11/19/2001
Page 3 of 3
Schedule 3