08-06-2013 - Successor Agency Treasurers Report for June 2013 - Item SA 2 (2).pdfPrepared by: Denise Bates
Accounting Manager
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RevieikeILHL::-.."1111: ta McKay
Dire or of Finance &
Admin trative Services
City of West Covina
Memorandum
AGENDA
Item No. SA 2
Date August 6, 2013
TO: Christopher J. Chung, City Manager
and City Council
FROM: Nita McKay
Director of Finance & Administrative Services
SUBJECT: SUCCESSOR AGENCY TREASURER'S REPORT FOR JUNE 2013
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
Effective January 1, 2006, Section 53646 of the Government Code states that a city's chief
fiscal officer may submit quarterly reports to their legislative body. This report is to include
the type of investment, issuer, date of maturity, par and dollar amount invested in all securities,
investments, and money held by the local agency. It must also include a statement that the
portfolio is in compliance with the City's investment policy, or manner in which it is not in
compliance, and note the ability of the local agency to meet its expenditure requirements for
the next six months or provide an explanation as to why sufficient money may not be available,
if applicable.
Although it is no longer a State requirement to submit quarterly reports to the local legislative
body, the City's investment policy requires the monthly transmittal of the treasurer's reports
to the West Covina City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency.
The June 2013 Report shows the Agency's portfolio increased by $5,259,267 from $4,146,755
on May 31, 2013, to $9,406,022 on June 30, 2013. Approximately 12 percent of the portfolio
is invested with the City's pooled cash. The remaining Agency's surplus funds are in
investment pools with the State of California Local Agency Investment Pool (LAIF) and the
Los Angeles County Investment Pool (LACIP). These funds are completely liquid, as the City
can withdraw them at any time. Approximately 87 percent of the portfolio is on deposit in
LACIP and the remaining less than one percent of available cash is on deposit in the checking
account and LAIF.
Bond Detail Report:
The June 2013 report also includes a Bond Detail Report. This report shows how Fiscal Agents
are investing Successor Agency cash, which they hold to service various debts. This
information is reported to the City Council quarterly.
EARNED INTEREST YIELD THIS PERIOD: 0.582%
SUBMITT-ED'BY:
Nita McKay, Director of Financk& Administrative Services
PREPARED BY:
Denise Bites, Accounting Manager
SIX-MONTH TREASURY BILL YIELD,: 0.04%
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CEI,i
in
/DR VED BY:
e/te-f-'0e—J
Ilea- V. Sm7d, City Treasurer
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
JUNE 30, 2013
TYPES OF DEPOSITS:
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
SUB-TOTAL
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
LOS ANGELES COUNTY POOL (LACIP)
CITY OF WEST COVINA POOLED CASH
SUB-TOTAL
TOTAL
May 31 DEPOSITS WITHDRAWALS June 30
9,063.16
9,063.16
2,030.88
2,938,558.48
1,197,101.99
4,137,691.35
4,146,754.51
5,844,099.00
5,844,099.00
0.00
5,801,548.64
556,423.87
6,357,972.51
12,202,071.51
5,805,822.37
5,805,822.37
0.00
553,706.97
583,275.09
1,136,982.06
6,942,804.43
47,339.79
47,339.79
2,030.88
8,186,400.15
1,170,250.77 *
9,358,681.80
9,406,021.59
* - Subject to change, pending completion of fiscal year-end closing of the books.
It has been verified that this investment portfolio is in conformity with the City of West Covina's investment policy which was approved by the City Council on January 18, 2005.
The investment portfolio provides sufficient cash flow liquidity to meet estimated expenditures for the next month. The Sucessor Agency submitted the recognized obligation payment schedules (ROPS) for July to December 2013 to the State Department of Finance (DOF).
In June 2013, the Successor Agency received funds from the DOF-approved ROPS and there is sufficient cash flow liquidity to meet estimated expenditures from July -December 2013. This report is accurate with respect to all information received as of July 22, 2013.
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
June 30, 2013
Description of Issuer Description of Bond Type of Bond Type of Investment Maturity Date Original Cost Shares/Face Amount Market Value Rate
0.00
0.00
0.00
Open 0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
U. UU
0.00
0.00
0.00
Open 0.00
0.00
0.00
0.00
0.00
0.00
L/C Fund
UC Fund
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
Direct Pay LOC #NZS668499
Cash
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
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
First American Treas Oblig CI d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
FHLB
Cash
First American Treas Oblig Cl d Corp Trust
FHLB
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
Open
Open
0.03
0.00
0.03
2,414.00
0.00
0.03
0.00
0.03
2,414.00
0.00
0.03
0.00
0.03
2,414.00
0.00
Open
1.420
Open
1.420
Open
5/30/2014
5/30/2014
2,414.00
710.00
0.00
710.00
3,774.90
340,812.60
0.00
344,587.50
1,411.00
100,239.00
0.00
101,650.00
2,414.00
710.00
0.00
710.00
3,774.90
340,000.00
0.00
343,774.90
1,411.00
100,000.00
0.00
101,411.00
2,414.00
710.00
0.00
710.00
3,774.90
343,719.60
0.00
347,494.50
1,411.00
101,094.00
0.00
102,505.00
Open
Open 194.59
0.00
194.59
194.59
0.00
194.59
194.59
0.00
194.59
Ending Balances 564,236.99 563,185.39 567,998.99
114,680.87
0.00
114,680.87
114,680.87
0.00
114,680.87
114,680.87
0.00
114,680.87
Wells Fargo Bank, NA 10/13/2013 0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
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. Treas & Agency
First American Funds, Inc.
First American Funds, Inc.
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
Revenue Fund
Revenue Fund
Revenue Fund
Purchase Fund
Purchase Fund
First American Treas Oblig CI d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Funds, Inc.
First American Funds, Inc.
0.00
0.00
0.00
384.88
800,000.00
0.00
800,384.88
50.43
0.00
50.43
800,435.31
7,029.28
0.00
0.00
7,029.28
0.00
0.00
0.00
4,166.40
990,000.00
0.00
994,166.40
1,001,195.68
0.00
0.00
0.00
384.88
799,944.00
0.00
800,328.88
50.43
0.00
50.43
800,379.31
7,029.28
0.00
0.00
7,029.28
0.00
0.00
0.00
4,166.40
1,000,830.60
0.00
1,004,997.00
1,012,026.28
Description of Bond
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
Type of Bond
Special Fund
Special Fund
Interest Account
Interest Account
Reserve Account
Reserve Account
Reserve Account
Project Fund
Project Fund
Special Fund
Special Fund
Special Fund
Interest Account
Interest Account
Reserve Fund
Reserve Fund
Reserve Fund
First American Treas Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
FNMA DISCOUNT NOTE
Cash
First American Treas Oblig CI d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Government Obligation Fd CL D
FHLB
Cash
Maturity Date
Open
Open
Open
3/1/2013
Open
Ending Balances
Open
Open
Open
5/30/2014
Ending Balances
Original Cost
0.00
0.00
0.00
0.00
0.00
0.00
384.88
779,100.62
0.00
779,485.50
50.43
0.00
50.43
779,535.93
7,029.28
0.00
0.00
7,029.28
0.00
0.00
0.00
4,166.40
992,366.10
0.00
996,532.50
1,003,561.78
Shares/Face Amount Market Value
0.00 0.00
0.00 0.00
0.00 0.00
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
June 30, 2013
Type of Investment Description of Issuer
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
U.S. Treas & Agency
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
U.S. Tress & Agency
Rate
5.130
1.420
*Market valuations have been provided by U.S. Bank Corporate Trust Services GRAND TOTALS 2,347,334.70 2,364,816.38 2,380,404.58
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