HomeMy WebLinkAboutAGENDA REPORT 2002 0206 CC REG ITEM 11MMOORPARK CITY COUNCIL
AGENDA REPORT
ITEM I'* fl"'
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TO: Honorable City Council?
FROM: Dana Shigley, Administrative Services Direc
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DATE: January 31, 2002 (CC Meeting of 2/6/02)
SUBJECT: Consider Quarterly Treasurer's Report
SUMMARY
The Quarterly Treasurer's Report for the fiscal quarter ended
December 31, 2001 is submitted, as required by Government Code
and Moorpark Municipal Code.
DISCUSSION
For the quarter ended December 31, falling interest rates are
the most noteworthy. Interest rates have continued to fall,
reducing earnings. LAIF averaged 3.52% for the quarter, and is
expected to fall below 3% for the current quarter. Investments
outside of LAIF, including US Treasury and Agency instruments,
are still generally posting better yields. Also, as predicted
in last quarter's report, revenues exceeded expenses this
quarter because semi - annual property tax revenues were received
in December. For the Redevelopment Agency, this report reflects
the investment of $10 million in bond proceeds in the LAIF
account.
STAFF RECOMMENDATION
Receive and file Quarterly Treasurer's Report.
0003oa
City of Moorpark
Treasurer's Report
For Quarter Ended December 31,, 2001
Fiscal Year 2001-02
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City of Moorpark
Treasurer's Report
For the quarter ended December 31, 2001
With comparison to the quarter ended September 30, 2001
Moorpark
City of Moorpark Redevelopment Agency
Book Book
Value % Value %
Unrestricted Cash:
General account $ 904,198.65
Petty cash 1,100.00
905,298.65
Restricted Cash:
100%
47,106,952.05
Cash with fiscal agent
34,898,871.29
74%
Total Cash
905,298.65
0%
Investment Portfolio:
20%
11,992,338.42
Local Agency Investment Fund
28,843,147.61
71%
US Treasurys /Agencies
12,010,585.62
29%
Common Stock
-
0%
Total Investments
40,853,733.23
100%
Total Cash /Cash Equivalents
$ 41,759,031.88
100%
$ 1,345,533.71
1,345,533.71
1,756,961.17
3,102,494.88
Combined Total
Book
Value %
$ 2,249,732.36
1,100.00
2,250,832.36
1,756,961.17
1,756,961.17
4,007,793.53
Combined Total
September 30, 2001
Book
Value Change
$ 543,978.70
1,100.00
1,333,164.34
Schedule 1
$ 1,705,753.66
423,796.83
423,796.83
2,129,550.49
18,263,804.44
100%
47,106,952.05
80%
34,898,871.29
74%
12,208,080.76
0%
12,010,585.62
20%
11,992,338.42
26%
18,247.20
3,328.00
0.02%
3,328.00
0.01%
3,328.00
0.01%
-
18,267,132.44
100%
59,120,865.67
100%
46,894,537.71
100%
12,226,327.96
$ 21,369,627.32
$ 63,128,659.20
$ 48,772,780.75
$ 14,355,878.45
Total Demand Investments $ 28,843,147.61 71% $ 18,263,804.44 100% $ 47,106,952.05 80% $ 34,898,871.29 74%
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.
E ectfully submitted,
%�
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C, Dana Shigley, Treasurer
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( ; 12 -31 -01 Investment Report 1/31/2002
Page 1 of 3
Moorpark Redevelopment Agency
LAIF State of California n/a n/a Demand n/a 3.52% 3.52%
CS Walt Disney Company Merrill Lynch 133 $ 20.72 n/a n/a n/a 254687106 nla
Grand Total
$ 18,263,804.44 $ 18,263,804.44 $ 18,263,804.44 $ 83,087.29 $ 79,763.97
3,328.00 2,755.76 27.93
$ 18,263,804.44 $ 18,267,132.44 $ 18,266,560.20 $ 83,087.29 $ 79,791.90
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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Page 2 of 3
City of Moorpark
Schedule 2
Investment Portfolio
Quarter ended December 31, 2001
Quarter ended
Interest
December 31, 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 n/a
n/a
Demand
nla
3.52% 3.52%
$
28,843,147.61 $
28,843,147.61 $
28,843,147.61
$ 234,833.06
$ 310,396.44
US
US Treasury Note
101.34375
15- Jun -01
31- Jan -03
595
9128276x6
4.75% 3.887% $ 3,000,000
$ 40,312.50
3,040,312.50
3,026,886.86
3,083,430.00
59,375.00
(6,204.66)
US
US Treasury Bill @ Discount
9769233
15- Jun -01
28- Feb -02
258
912795HJ3
n/a 3.342% 3,000,000
(69,230.00)
2,930,770.00
2,983,698.76
2,991,971.69
24,451.86
US
FHLB U Bond Called 10/9/01
Par
9- Jul -01
9- Oct -01
92
3133MFRZ3
4.20% 3.257% 3,000,000
3,000,000.00
31,500.00
US
FHLMC U MT Note Called 10/30/01
Par
30- Jul -01
30- Oct -01
92
3129234V4
4.65% 4.650% 3,000,000
3,000,000.00
34,875.00
US
FHLB Discount Note
0.9990125
9- Oct -01
24- Oct -01
15
313385NJ1
n/a 2.372% 3,000,000
(2,962.50)
2,997,037.50
2,962.50
US
Freddie Mac U MT Note Callable
par
24- Oct -01
24- Oct -03
730
312924Mxe
3.205% 3.250% 3,000,000
3,000,000.00
3,000,000.00
2,992,200.00
17,627.50
-
US
FHLB U Bond Callable
Par
15- Nov -01
15- Nov -04
1,096
3133MJJo4
4.00% 4.060% 3,000,000
3,000,000.00
3,000,000.00
3,002,820.00
15,000.00
-
Total US
20,968,120.00
12,010,585.62
12,070,421.69
92,002.50
87,584.70
Grand Total
$
49,811,267.61 $
40,853,733.23 $
40,913,569.30
$ 326,835.56
$ 397,981.14
US TreasudeslAgencies Market Value
per Bank of America, NA Client Safekeeping Statement for quarter ended December 31, 2001.
Note: The $3 million @ 3.205% Freddie Mac Medium Term Unsecured Note was called on January 24, 2002.
Moorpark Redevelopment Agency
LAIF State of California n/a n/a Demand n/a 3.52% 3.52%
CS Walt Disney Company Merrill Lynch 133 $ 20.72 n/a n/a n/a 254687106 nla
Grand Total
$ 18,263,804.44 $ 18,263,804.44 $ 18,263,804.44 $ 83,087.29 $ 79,763.97
3,328.00 2,755.76 27.93
$ 18,263,804.44 $ 18,267,132.44 $ 18,266,560.20 $ 83,087.29 $ 79,791.90
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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Page 2 of 3
C
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ti
General Operating Cash:
Balance forward
Revenues
Expenditures
Revenues over expenditures
Other Revenues /Expenditures:
LAIF withdrawals
LAIF deposits
Purchase US Treasury/Agencies
Maturities US Treasury/Agencies
Bond proceeds
Transfers in /(out)
Total Other
Ending Balance
Cash with Fiscal Agent:
Balance forward
Interest earned
Bond proceeds
Transfers in
Revenues
Cost of issuance
Debt service payments
Expenditures
Revenues over expenditures
Ending Balance
Petty Cash:
Balance forward
Ending Balance
City of Moorpark
Investment Report
Activity for Quarter ended December 31, 2001
$ - $ 1,333,164.34
21,198.42
1,404,051.32
1.425.249.74
439,116.66
562,336.25
1,001,452.91
$ 1,333,164.34
21,198.42
1,404,051.32
1,425,249.74
439,116.66
1,001,452.91
$ 1,756,961.17 $ 1,756,961.17 (1) $ 985,861.17
$ 1,100.00 $ 1,100.00
$ 1,100.00 $ - $ 1,100.00
General operating accounts are subject to Bank of America compensating balance requirements to offset banking activity charges.
(1) Market value equals book value less "GIC' dtd May 19, 1999 to Oct 1, 2018 @ 5.4% $ 771,100
The "Guaranteed Insurance Contract' (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
12 -31 -01 Investment Report 1/31/2002
Page 3 of 3
Schedule 3
Moorpark
Total
City of
Redevelopment
Book Market
Moorpark
Agency
Value Value
$ 301,090.04
$ 242,888.66
$ 543,978.70
6,337,554.76
1,601,679.57
7,939,234.33
4,734,446.15
4,734,446.15
1,603,108.61
1,601,679.57
3,204,788.18
800,000.00
-
800,000.00
(2,300,000.00)
(10,000,000.00)
(12,300,000.00)
(11,994,064.17)
(11,994,064.17)
11,994,064.17
11,994,064.17
-
10,000,965.48
10,000,965.48
500,000.00
(500,000.00)
(1,000,000.00)
(499,034.52)
(1,499,034.52)
$ 904,198.65
$ 1,345,533.71
$ 2,249,732.36 $ 2,249,732.36
$ - $ 1,333,164.34
21,198.42
1,404,051.32
1.425.249.74
439,116.66
562,336.25
1,001,452.91
$ 1,333,164.34
21,198.42
1,404,051.32
1,425,249.74
439,116.66
1,001,452.91
$ 1,756,961.17 $ 1,756,961.17 (1) $ 985,861.17
$ 1,100.00 $ 1,100.00
$ 1,100.00 $ - $ 1,100.00
General operating accounts are subject to Bank of America compensating balance requirements to offset banking activity charges.
(1) Market value equals book value less "GIC' dtd May 19, 1999 to Oct 1, 2018 @ 5.4% $ 771,100
The "Guaranteed Insurance Contract' (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
12 -31 -01 Investment Report 1/31/2002
Page 3 of 3
Schedule 3