08-19-2014 - Successor Agency Treasurers Report for the Quarte - SA 2 (2).pdfCity of West Covina
Memorandum
AGENDA
ITEM NO. SA2
DATE August 19, 2014
TO: Chair and Board Members of the Successor Agency
FROM: Christopher J. Chung
Executive Director
BY: Nita McKay
Director of Finance & Administrative Services
SUBJECT: SUCCESSOR AGENCY TREASURER'S REPORT FOR THE QUARTER
ENDED JUNE 30, 2014
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
The Investment Policy of the City of West Covina also applies to the Successor Agency to the
West Covina Redevelopment Agency. In accordance with Section XVI of the City of West
Covina Fiscal Year 2014-15 Statement of Investment Policy, a Treasurer's Report for the quarter
ended June 30, 2014 is hereby submitted to the Successor Agency. It also includes cash held by
trustees for all bond issues and cash in the various Successor Agency bank accounts, as well as
reporting on compliance with the City's Investment Policy and providing a statement of the
ability to meet budgeted expenditure needs for the following six months.
The June 30, 2014 Report shows the Agency's portfolio increased by $5,726,355 from
$3,716,456 on March 31, 2014, to $9,442,811 on June 30, 2014. The Successor Agency receives
two payments per year from the County of Los Angeles, in January and June. As of June 30,
2014, the Successor Agency had received the bulk of its tax distribution for fiscal 2014-15. As a
result, the cash balance had been significantly increased at the end of June. The Agency's surplus
funds are in investment pools with the State of California Local Agency Investment Pool (LAlF)
and the Los Angeles County Investment Pool (LACLF'). These funds are completely liquid, as the
City can withdraw them at any time. Approximately 98% of the portfolio is on deposit in LACIP
and the remaining small amount of available cash is on deposit in the checking account and
LAIF.
The Bond Detail Report includes Fiscal Agent investments of Successor Agency cash which
being held to service various issues of bonded debt.
Prepared by:
Nit (a McKay
Director of Finance & Administrati -,e Services
Reviewed and Approved by:
Mike Lee
Assistant City Manager/Community Development
Commission Director
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
June 30, 2014
Description of Issuer Maturity Date Original Cost Shares/Face Amount Market Value Rate Type of Investment Type of Bond Description of Bond
Open
Open
Open
Open
Open
Open
0.03
0.00
0.03
2,414.00
0.00
2,414.00
710.00
0.00
710.00
0.00
343,774.90
0.00
343,774.90
0.00
101,411.00
0.00
101,411.00
114,680.87
0.00
114,680.87
Open 194.59
0.00
194.59
563,185.39
519.60
0.00
0.00
519.60
Ending Balances
Open
0.03
0.00
0.03
2,414.00
0.00
2,414.00
710.00
0.00
710.00
0.00
343,774.90
0.00
343,774.90
0.00
101,411.00
0.00
101,411.00
0.03
0.00
0.03
0.00
0.00
0.00
0.00
0.00
0.00
3,774.90
340,000.00
0.00
343,774.90
1,411.00
100,000.00
0.00
101,411.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Open First American Funds, Inc.
0.00
0.00
0.00 0.00
0.00 0.00
Ending Balances 519.60 0.00 519.60
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
Bond
Bond
Interest Series A
Interest Series A
Interest Series B
Interest Series B
Reserve Series A
Reserve Series A
Reserve Series A
Reserve Series B
Reserve Series B
Reserve Series B
Project Fund Series B
Project Fund Series B
Principal Account
Principal Account
Revenue Fund
Revenue Fund
Revenue Fund
First American Treas Oblig CI d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
FHLB
Cash
First American Tress Oblig CI d Corp Trust
FHLB
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Tress Oblig CI d Corp Trust
Cash
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
U.S. Tress & Agency
First American Funds, Inc.
U.S. Tress & Agency
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
114,680.87
0.00
114,680.87
114,680.87
0.00
114,680.87
194.59
0.00
194.59
194.59
0.00
194.59
560,061.39 563,185.39
0.00
0.00
0.00
519.60
0.00
0.00
b19.60
1.410
1.410
Purchase Fund
Purchase Fund
L/C Fund
UC Fund
First American Tress Oblig Cl d Corp Trust
Cash
Direct Pay LOC #NZS668499
Cash
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
Wells Fargo Bank, NA Open 0.00 0.00 0.00
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
June 30, 2014
Description of Bond Type of Bond Type of Investment Description of Issuer Maturity Date Original Cost Shares/Face Amount Market Value Rate
Special Fund
Special Fund
Interest Account
Interest Account
Reserve Account
First American Tress Oblig Cl d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
Open 0.00
0.00
0.00
0.00
0.00
0.00
-
-
-
0.00 0.00 0.00
Open 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 0.00
Open 336.88 336.88 336.88
Reserve Account F N MA DISCOUNT NOTE U.S. Tress & Agency 779,100.62 800,000.00 799,944.00 5.270
Reserve Account Cash 0.00 0.00 0.00
779,437.50 800,336.88 800,280.88
Project Fund First American Treas Oblig Cl d Corp Trust First American Funds, Inc. Open 50.43 50.43 50.43 -
Project Fund Cash 0.00 0.00 0.00
50.43 50.43 50.43
Ending Balances 779,487.93 800,387.31 800,331.31
Special Fund First American Tress Oblig CI d Corp Trust First American Funds, Inc. Open 7,029.43 0.04 7,029.43 -
Special Fund 0.00 0.00 0.00
Special Fund Cash 0.00 0.00 0.00
7,029.43 0.04 7,029.43
Interest Account First American Treas Oblig CI d Corp Trust First American Funds, Inc. Open 0.00 0.00 0.00 -
Interest Account Cash 0.00 0.00 0.00
0.00 0.00 0.00
Reserve Fund First American Government Obligation Ed CL D First American Funds, Inc. Open 0.00 4,166.40 0.00 -
Reserve Fund FHLB U.S. Tress & Agency 994,166.40 990,000.00 994,166.40 1.410
Reserve Fund Cash 0.00 0.00 0.00
994,166.40 994,166.40 994,166.40
Ending Balances 1,001,195.83 994,166.44 1,001,195.83
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
*Market valuations have been provided by U.S. Bank Corporate Trust Services GRAND TOTALS 2,344,388.75 2,354,615.14 2,365,232.13