HomeMy WebLinkAboutAGENDA REPORT 2002 0515 CC REG ITEM 11DMOORPARK CITY COUNCIL
AGENDA REPORT
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TO: Honorable City Council J j FROM: Dana Shigley, Administrative Services Direc"9%Y
DATE: April 30, 2002 (CC Meeting of 5/15/02)
SUBJECT: Consider Quarterly Treasurer's Report
SUMMARY
The Quarterly Treasurer's Report for the fiscal quarter ended
March 31, 2002 is submitted, as required by Government Code and
Moorpark Municipal Code.
DISCUSSION
For the quarter ended March 31, falling interest rates are the
most noteworthy. Interest rates have continued to fall,
reducing earnings. LAIF averaged 2.96% for the quarter.
Investments outside of LAIF, including US Treasury and Agency
instruments, are still generally posting better yields. As is
typical for this time of year, cash is reduced to fund normal
expenses in the first quarter, while waiting for property taxes
to be received in April.
STAFF RECOMMENDATION
Receive and file Quarterly Treasurer's Report.
City of Moorpark
Treasurer's Report
For Quarter Ended March 31, 2002
Fiscal Year 2001 -02
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City of Moorpark
Treasurer's Report
For the quarter ended March 31, 2002
With comparison to the quarter ended
December 31, 2001
Moorpark
City of Moorpark Redevelopment Agency
Book Book
Value % Value %
Unrestricted Cash:
General account $ 809,849.07
Petty cash 1,100.00
$ 107,320.62
Combined Total
Combined Total December 31, 2001
Book Book
Value % Value Change
Schedule 1
$ 917,169.69 $ 2,249,732.36 $ (1,332,562.67)
1,100.00 1,100.00
918,269.69 2,250,832.36 (1,332,562.67)
Restricted Cash:
Cash with fiscal agent
1,926,927.63
1,926,927.63
1,756,961.17
169,966.46
-
1,926,927.63
1,926,927.63
1,756,961.17
169,966.46
Total Cash
810,949.07
2,034,248.25
2,845,197.32
4,007,793.53
(1,162,596.21)
Investment Portfolio:
Local Agency Investment Fund
31,943,147.61
78%
17,113,804.44
100%
49,056,952.05
84%
47,106,952.05
80%
1,950,000.00
US Treasurys /Agencies
9,020,682.20
22%
0%
9,020,682.20
16%
12,010,585.62
20%
(2,989,903.42)
Common Stock
-
0%
3,328.00
0.02%
3,328.00
0.01%
3,328.00
0.01%
Total Investments
40,963,829.81
100%
17,117,132.44
100%
58,080,962.25
100%
59,120,865.67
100%
(1,039,903.42)
Total Cash /Cash Equivalents
$ 41,774,778.88
$ 19,151,380.69
$ 60,926,159.57
$ 63,128,659.20
$ (2,202,499.63)
Total Demand Investments
$ 31,943,147.61
78%
$ 17,113,804.44
100%
$ 49,056,952.05
84%
$ 47,106,952.05
80%
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 pectfully submitted,
Dana Shigley, Treasurer
03 -31 -02 Investment Report 4/25/2002
Page 1 of 3
City of Moorpark
Investment Portfolio
Quarter ended
March 31, 2002
Schedule 2
Moorpark Redevelopment Agency
LAIF State of California
CS Walt Disney Company
Grand Total
n/a Demand 2.96% 2.96% $17,113.804.44 $ 17,113,804.44 $ 17,113,804.44 $ 130,122.06 $ 130,122.06
133 n/a n/a n/a n/a 3,328.00 3,062.99 -
$ 17,113,804.44 $ 17,117,132.44 $ 17,116,867.43 $ 130,122.06 $ 130,122.06
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.
f dD 03 -31 -02 Investment Report 4/30/2002 Page 2 of 3
Quarter ended
Interest
March 31, 2002
Received/
Purchase
Maturity
Days to
Premium
Book
Market
Accrued
Amortized
Type
Issuer Shares
Date
Date
Maturity
Rate
Yield
Par
(Discount)
Cost
Value
Value
Interest
This Quarter
City of Moorpark
LAIF
State of California
n/a
Demand
2.96%
2.96%
$31,943,147.61
$ 31,943,147.61
$ 31,943,147.61
$ 220,515.69
$ 234,833.06
US
US Treasury Note
15 -Jun -01
31 -Jan -03
595
4.75%
3.887%
$ 3,000,000
$ 40,312.50
3.040,312.50
3,020,682.20
3,054,390.00
65,045.34
US
US Treasury Bill @ Discount
15 -Jun -01
28 -Feb-02
258
n/a
3.342%
3,000,000
(69,230.00)
2,930,770.00
16,301.24
US
Freddie Mac U MT Note
24-Oct-01
24 -Jan -02
92
3.205%
3.250%
3,000,000
3,000,000.00
24,037.50
US
FHLB U Bond Callable
15 -Nov -01
15- Nov-04
1,096
4.00%
4.060%
3,000,000
3,000,000.00
3,000,000.00
2,970,000.00
30,000.00
-
US
FHLB Discount Note
24 -Jan -02
14 -Feb -02
21
n/a
1.644%
3,000,000
(2,835.00)
2,997,165.00
2,835.00
US
FNMA Unsecd Notes Callable
14 -Feb -02
14 -Feb -05
1,096
4.23%
4290%
3,000,000
-
3,000,000.00
3,000,000.00
2,973,750.00
16,215.00
-
Total US
17,968,247.50
9,020,682.20
8,998,140.00
46,215.00
108,219.08
Grand Total
$
49,911,395.11
$ 40,963,829.81
$ 40,941,287.61
$ 266,730.69
$ 343,052.14
US Treasudes/Agencies Market Value per Bank of
America, NA Client Safekeeping Statement for quarter ended
March 31, 2002.
Moorpark Redevelopment Agency
LAIF State of California
CS Walt Disney Company
Grand Total
n/a Demand 2.96% 2.96% $17,113.804.44 $ 17,113,804.44 $ 17,113,804.44 $ 130,122.06 $ 130,122.06
133 n/a n/a n/a n/a 3,328.00 3,062.99 -
$ 17,113,804.44 $ 17,117,132.44 $ 17,116,867.43 $ 130,122.06 $ 130,122.06
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.
f dD 03 -31 -02 Investment Report 4/30/2002 Page 2 of 3
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City of Moorpark
Investment Report
Activity for Quarter ended March 31, 2002
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's" $ 1,355,774
The "Guaranteed Insurance Contract" (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
03 -31 -02 Investment Report 4/25/2002
Page 3 of 3
Schedule 3
Moorpark
Total
City of
Redevelopment
Book
Market
Moorpark
Agency
Value
Value
General Operating Cash:
Balance forward
$904,198.65
$1,345,533.71
$
2,249,732.36
Revenues
4,166,831.89
112,465.60
4,279,297.49
Expenditures
5,424,126.82
179,984.83
5,604,111.65
Revenues over expenditures
(1,257,294.93)
(67,519.23)
(1,324,814.16)
Other Revenues /Expenditures:
LAW withdrawals
500,000.00
1,150,000.00
1,650,000.00
LAIF deposits
(3,600,000.00)
(3,600,000.00)
Purchase US Treasury/Agencies
(5,997,165.00)
(5,997,165.00)
Maturities US Treasury/Agencies
8,997,165.00
-
8,997,165.00
Bond proceeds
-
Transfers in /(out)
1,262,945.35
(2,320,693.86)
(1,057,748.51)
Total Other
1,162,945.35
(1,170,693.86)
(7,748.51)
Ending Balance
$
809,849.07
$ 107,320.62
$
917,169.69 $
917,169.69
Cash with Fiscal Agent:
Balance forward
$
-
$1,756,961.17
$
1,756,961.17
Interest earned
7,731.46
7,731.46
Bond proceeds
179,984.83
179,984.83
Transfers in
-
Revenues
-
187,716.29
187,716.29
Disbursements
17,749.83
17,749.83
Debt service payments
-
-
Expenditures
-
17,749.83
17,749.83
Revenues over expenditures
-
169,966.46
169,966.46
Ending Balance
$
-
$ 1,926,927.63
$
1,926,927.63 (1) $
571,153.63
Petty Cash:
Balance forward
$1,100.00
$
1,100.00
Ending Balance
$
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's" $ 1,355,774
The "Guaranteed Insurance Contract" (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
03 -31 -02 Investment Report 4/25/2002
Page 3 of 3
Schedule 3