HomeMy WebLinkAboutAGENDA REPORT 2002 1120 CC REG ITEM 10Cef
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council //''
FROM: Johnny Ea, Budget & Finance Manager �9
Prepared by: Debbie Sanquist, Accountant
DATE: November 5, 2002 (CC Meeting of 11/20/02)
SUBJECT: Consider Quarterly Treasurer's Report for the Quarter
Ended September 30, 2002
SUMMARY
The Quarterly Treasurer's Report for the fiscal quarter ended
September 30, 2002 is submitted, as required by Government Code
and Moorpark Municipal Code.
DISCUSSION
For the quarter ended September_ 30th, interest rates have
continued to fall, reducing earnings. LAIF averaged 2.63% for
the quarter. Investments outside of LAIF, including US Treasury
and Agency instruments, are generally posting similar yields.
STAFF RECOMMENDATION
Receive and file Quarterly Treasurer's Report.
City of Moorpark
Treasurer's Report
For Quarter Ended September 30, 2002
Fiscal Year 2002 -03
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Unrestricted Cash:
General account
Petty cash
Restricted Cash:
Cash with fiscal agent
Total Cash
City of Moorpark
Book
Value %,
$ 1,105,085.61
1,100.00
1,106,185.61
I, I vv, I oa.o I
City of Moorpark
Treasurer's Report
For the quarter ended
September 30, 2002
With comparison to the quarter ended
June 30, 2002
Moorpark Combined Total
Redevelopment Agency Combined Total June 30, 2002
Book Book Book
Value % Value % Value Change
$ 25,827.06
25,827.06
2,264,235.18
2,264,235.18
2,290,062.24
$ 1,130,912.67
1,100.00
1,132,012.67
2,264,235.18
2,264,235.18
3,396,247.85
$ 802,455.07
1,100.00
803,555.07
1,581,347.15
1,581,347.15
2,384,902.22
Schedule 1
$ 328,457.60
ac0,w;31.ov
682,888.03
682,888.03
1,011,345.63
Investment Portfolio:
Local Agency Investment Fund
37,240,941.76
76%
10,887,802.97
100%
48,128,744.73
80%
51,312,589.80
85%
(3,183,845.07)
US Treasurys /Agencies
11,979,130.04
24%
0%
11,979,130.04
20%
9,014,477.54
15%
2,964,652.50
Common Stock
-
0%
-
0.00%
-
0.00%
3,328.00
0.01%
(3,328.00)
Total investments
49,220,071.80
100%
10,887,802.97
100%
60,107,874.77
100%
60,330,395.34
100%
(222,520.57)
Total Cash /Cash Equivalents
$ 50,326,257.41
$ 13,177,865.21
$ 63,504,122.62
$ 62,715,297.56
$ 788,825.06
Total Demand Investments
$ 37,240,941.76
76%
$ 10,887,802.97
100%
$ 48,128,744.73
80%
$ 51,312,589.80
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.
Respectfully submitted,
Hugh Riley, Treasurer
09 -30 -02 Investment Report 10/22/2002
Page 1 of 3
City of Moorpark Schedule 2
Investment Portfolio
Quarter ended
September 30, 2002
Moorpark Redevelopment Agency
LAW State of California Na Demand Na 2.63% 2.63%
Grand Total
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�. 09 -3D-02 Investment Report 10/22/2002
Page 2 of 3
$10,887,802.97 $ 10,887,802.97 $ 10,887,802.97 $ 116,295.96 $ 116,295.96
$ 10,887,802.97 $ 10,887,802.97 E E 10,887,802.97 E 116,295.96 $ 116 295.96
Quarter ended
913012002
Interest
Purchase
Maturity
Daysto
Premium
Book Par
Market
Accrued
Received/
Amortized
Type
Issuer Shares
Price
Date
Date
Maturity
CUSIP
Rate
Yield
Par
(Discount)
Cost
Value Value
Value
Interest
This Quarter
City of Moorpark
LAW
State of California
Na
Demand
Na
2.63%
2.63%
$37,240,941.76 $
37,240,941.76
$ 37,240,941.76 $
230,968.96 $
230,968.96
US
US Treasury Note
101.34375
15- Jun -01
31- Jan-03
595
9128276S6
4.75%
3.887% $
3,000,000 $
40,312.50
3,040,312.50
3,014,477.54
3,032,820.00
(6,204.66)
US
FNMA Discount Note
98.848
30- Jul -02
4- Apr -03
248
313588DX0
1.67%
1.703%
3,000,000
(34,510.00)
2,965,451.00
2,965,590.00
2,975,830.64
(8,463.76)
US
US Treasury Bill
99.968
31- Jul -02
31- Jul -04
731
912828AG5
2.25%
2.266%
3,000,000
(937.50)
2,999,062.50
2,999,062.50
3,031,890.00
-
US
FNMA Unsecured Notes
100.00
28- Aug -02
28- Feb-03
184
EC6580681
3.03%
3.030%
3,000,000
-
3,000,000.00
3,000,000.00
3,011,250.00
-
Total US
12,004,826.00
11,979,130.04
12 051 790.64
(14 668.42)
Grand Total
$ 49,245,767.76 $ 49,220,071.80 $
E 49,292,732.40 E
230,968.96 $
216,300.54
US TreasuriesrAgencies Market Value per Bank of America, NA Client Safekeeping Statement for
quarter ended September 30, 2002.
Moorpark Redevelopment Agency
LAW State of California Na Demand Na 2.63% 2.63%
Grand Total
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�. 09 -3D-02 Investment Report 10/22/2002
Page 2 of 3
$10,887,802.97 $ 10,887,802.97 $ 10,887,802.97 $ 116,295.96 $ 116,295.96
$ 10,887,802.97 $ 10,887,802.97 E E 10,887,802.97 E 116,295.96 $ 116 295.96
t
City of Moorpark
Investment Report
Activity for Quarter ended
September 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 "GIC's" $ 1,355,774
The "Guaranteed Insurance Contract" (GIC) represents the Debt Service Reserve for MRA 1999 Tax Allocation Bond issue.
09 -30 -02 Investment Report 10/22/2002
Page 3 of 3
Schedule 3
Moorpark
Total
City of
Redevelopment
Book
Market
Moorpark
Agency
Value
Value
General Operating Cash:
Balance forward
$776,465.65
$25,989.42
$
802,455.07
Revenues
4,627,841.27
355,517.58
4,983,358.85
Expenditures
4,993,493.54
645,205.21
5,638,698.75
Revenues over expenditures
(365,652.27)
(289,687.63)
(655,339.90)
Other Revenues /Expenditures:
LAIF withdrawals
7,200,000.00
1,155,000.00
8,355,000.00
LAIF deposits
(4,500,000.00)
(4,500,000.00)
Purchase US Treasury/Agencies
(8,964,652.50)
-
(8,964,652.50)
Maturities US Treasury/Agencies
6,093,450.00
-
6,093,450.00
Repay Advances
865,474.73
(865,474.73)
Bond proceeds
-
-
Transfers in /(out)
-
Total Other
694,272.23
289,525.27
983,797.50
Ending Balance
$
1,105,085.61
$ 25,827.06
$
1,130,912.67 $
1,130,912.67
Cash with Fiscal Agent:
Balance forward
$
-
$1,581,347.15
$
1,581,347.15
Interest earned
37,707.82
37,707.82
Bond proceeds
-
Transfers in
645,180.21
645,180.21
Revenues
-
682,888.03
682,888.03
Disbursements
-
Debt service payments
Expenditures
-
-
-
Revenues over expenditures
-
682,888.03
682,888.03
Ending Balance
$
-
$ 2,264,235.18
$
2,264,235.18 (1) $
908,461.18
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.
09 -30 -02 Investment Report 10/22/2002
Page 3 of 3
Schedule 3