HomeMy WebLinkAboutAGENDA REPORT 2002 0821 CC REG ITEM 11HMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Dana Shigley, Administrative Services
DATE: July 31, 2002 (CC Meeting of 8/21/02)
SUBJECT: Consider Quarterly Treasurer's Report
SUMMARY
ITEM I L fie
Cif Y OF MOORPARK, CALIFORNIA,
City Council Meeting
of R -4')) —oa
ACT 101N:Aa�ajr--J
The Quarterly Treasurer's Report for the fiscal quarter ended
June 30, 2002 is submitted, as required by Government Code and
Moorpark Municipal Code.
DISCUSSION
For the quarter ended June 30th, interest rates have continued
to fall, reducing earnings. LAIF averaged 2.75% for the
quarter. Investments outside of LAIF, including US Treasury and
Agency instruments, are still generally posting better yields.
STAFF RECOMMENDATION
Receive and file Quarterly Treasurer's Report.
City of Moorpark
Treasurer's Report
For Quarter Ended June 30, 2002
Fiscal Year 2001 -02
Unrestricted Cash:
General account
Petty cash
City of Moorpark
Book
Value %
$ 776,465.65
1,100.00
777,565.65
City of Moorpark
Treasurer's Report
For the quarter ended
June 30, 2002
With comparison to the quarter ended
March 31, 2002
Moorpark
Redevelopment Agency Combined Total
Book Book
Value % Value
$ 25,989.42
&4,090.V&
$ 802,455.07
1,100.00
803,555.07
Schedule 1
Combined Total
March 31, 2002
Book
Value Change
$ 917,169.69 $ (114,714.62)
1,100.00 -
918,269.69 (114,714.62)
Restricted Cash:
Cash with fiscal agent
-
1,581,347.15
1,581,347.15
1,926,927.63
(345,580.48)
1,581,347.15
1,581,347.15
1,926,927.63
(345,580.48)
Total Cash
777,565.65
1,607,336.57
2,384,902.22
2,845,197.32
(460,295.10)
Investment Portfolio:
Local Agency Investment Fund
39,463,663.30
81%
11,848,926.50
100%
51,312,589.80
85%
49,056,952.05
84%
2,255,637.75
US Treasurys /Agencies
9,014,477.54
19%
0%
9,014,477.54
15%
9,020,682.20
16%
(6,204.66)
Common Stock
-
0%
3,328.00
0.03%
3,328.00
0.01%
3,328.00
0.01%
Total Investments
48,478,140.84
100%
11,852,254.50
100%
60,330,395.34
100%
58,080,962.25
100%
2,249,433.09
Total Cash /Cash Equivalents
$ 49,255,706.49
$ 13,459,591.07
$ 62,715,297.56
$ 60,926,159.57
$
1,789,137.99
Total Demand Investments
$ 39,463,663.30
81%
$ 11,848,926.50
100%
$ 51,312,589.80
85%
$ 49,056,952.05
84%
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.
Rds-A.ctfully submitted,
Dana Shigley, Treasurer
r'
( 06 -30-02 Investment Report 7/23/2002 Page 1 of 3
V.�
Moorpark Redevelopment Agency
LAIF State of California nla Na Demand Na 2.75% 2.75%
CS Walt Disney Company M.MH Lynn 133 $ 18.87 Na Na Na 254W71W Na
Grand Total
On July 1, 2002, The Walt Disney stock was sold for $2,509.71.
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.
t
t ..
I
y
06.30 -02 Investment Report 811312002
Page 2 of 3
$11,848,926.50 $ 11,848,926.50 $ 11,848,926.50 $ 116,295.96 $ 116,295.96
3,328.00 2,509.71 -
$ 11,848,926.50 $ 11,852,254.50 E $ 11,851,436.21 $ 116,295.96 $ 116,295.96
City of Moorpark
Schedule 2
Investment Portfolio
Quarter ended
June 30, 2002
Quarter ended
Interest
June 30, 2002
Received/
Purchase
Maturity
Daysto
Premium
Book Par
Market
Accrued Amortized
Type
Issuer Broker Shares Price
Date
Date
Maturity
CUSIP
Rate Yield
Par (Discount)
Cost
Value Value
Value
Interest This Quarter
City of Moorpark
LAIF
State of California n/a
Na
Demand
Na
2.75% 2.75%
$39,463,663.30 $
39,463,663.30
$ 39,463,663.30 $
230,968.96 $ 230,968.96
us
US Treasury Note 101.34375
15- Jun-01
31- Jan-03
595
0128270SO
4.75% 3.887% $
3,000,000 $ 40,312.50
3,040,312.50
3,014,477.54
3,050,640.00
59,375.00 (6,204.66)
us
FHLB U Bond Callable Dar
15- Nov -01
15- Nov-04
1,096
31 MMJJ04
4.00% 4.060%
3,000,000 -
3,000,000.00
3,000,000.00
3,005,640.00
15,000.00 -
US
FNMA Unsecd Notes Callable Per
14- Feb-02
14- Feb-05
1,096
31WFIK02
4.23% 4.290%
3,000,000 -
3,000,000.00
3,000,000.00
3,005,640.00
47,587.50 -
Total US
9,040,312.50
9,014,477.54
9,061,920.00
121,962.50 (6,204.66)
Grand Total
$ 48,503,975.80 $ 48 478,140.84 E
$ 48,525,583.30 $
352,931.46 $ 224,764.30
US Treasuries/Agencies Market Value per Bank ofAmerica, NA Client Safekeeping Statement for quarter
ended March 31, 2001.
Moorpark Redevelopment Agency
LAIF State of California nla Na Demand Na 2.75% 2.75%
CS Walt Disney Company M.MH Lynn 133 $ 18.87 Na Na Na 254W71W Na
Grand Total
On July 1, 2002, The Walt Disney stock was sold for $2,509.71.
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.
t
t ..
I
y
06.30 -02 Investment Report 811312002
Page 2 of 3
$11,848,926.50 $ 11,848,926.50 $ 11,848,926.50 $ 116,295.96 $ 116,295.96
3,328.00 2,509.71 -
$ 11,848,926.50 $ 11,852,254.50 E $ 11,851,436.21 $ 116,295.96 $ 116,295.96
City of Moorpark
Investment Report
Activity for Quarter ended
June 30, 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 "GICs" $ 1,355,774
The "Guaranteed Insurance Contract" (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
06 -30-02 Investment Report 7/23/2002
Page 3 of 3
Schedule 3
Moorpark
Total
City of
Redevelopment
Book
Market
Moorpark
Agency
Value
Value
General Operating Cash:
Balance forward
$809,849.07
$107,320.62
$
917,169.69
Revenues
6,874,500.20
1,149,723.80
8,024,224.00
Expenditures
5,491,924.46
5,491,924.46
Revenues over expenditures
1,382,575.74
1,149,723.80
2,532,299.54
Other Revenues /Expenditures:
LAIF withdrawals
1,000,000.00
6,395,000.00
7,395,000.00
LAIF deposits
(8,300,000.00)
(1,000,000.00)
(9,300,000.00)
Purchase US Treasury/Agencies
-
-
-
Maturities US Treasury/Agencies
-
-
-
Repay Advances
-
(6,626,055.00)
(6,626,055.00)
Bond proceeds
-
-
-
Transfers in /(out)
5,884,040.84
5,884,040.84
Total Other
(1,415,959.16)
(1,231,055.00)
(2,647,014.16)
Ending Balance
$
776,465.65
$ 25,989.42
$
802,455.07 $
802,455.07
Cash with Fiscal Agent:
Balance forward
$
-
$1,926,927.63
$
1,926,927.63
Interest earned
21,749.74
21,749.74
Bond proceeds
-
Transfers in
-
Revenues
-
21,749.74
21,749.74
Disbursements
-
Debt service payments
367,330.22
367,330.22
Expenditures
367,330.22
367,330.22
Revenues over expenditures
-
(345,580.48)
(345,580.48)
Ending Balance
$
-
$ 1,581,347.15
$
1,581,347.15 (1) $
225,573.15
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 "GICs" $ 1,355,774
The "Guaranteed Insurance Contract" (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
06 -30-02 Investment Report 7/23/2002
Page 3 of 3
Schedule 3