12-04-2012 - Successor Agency Treasurers Report for the Month - Item SA2 (2).pdfReviewe• 'pprove• b omas Bachman
Asst. City Manager/Finance Director
City of West Covina
Memorandum
AGENDA
Item No. SA2
Date December 4, 2012
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SUCCESSOR AGENCY TREASURER'S REPORT FOR SEPTEMBER
2012
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 on 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.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The September Report shows the Agency's portfolio decreased by $39,195 from $6,944,129
on August 31, 2012, to $6,904,934 on September 30, 2012. Approximately 44 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 since
the City could withdraw them at any time. Approximately 55 percent of the portfolio is on
deposit in LACIP and the remaining one percent of available cash is on deposit in the
checking account.
Bond Detail Report:
The September 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.
The City Treasurer is on vacation as of the writing of this report, and thus, the September
2012 report does not have her signature. The September 2012 report will be reviewed by the
City Treasurer upon her return from her vacation in early December.
Prepared by: Clara Won
Interim Finance Director
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
SEPTEMBER 30, 2012
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
August 31 DEPOSITS WITHDRAWALS
September 30
62,703.97
62,703.97
2,026.01
4,357,792.10
2,521,607.23
550,000.00
550,000.00
2,822.45
541,372.70
583,389.91
583,389.91
550,000.00
29,314.06
29,314.06
2,026.01
3,810,614.55
3,062,979.93
SUB-TOTAL 6,881,425.34 544,195.15 550,000.00 6,875,620.49
TOTAL 6,944,129.31 1,094,195.15 1,133,389.91 6,904,934.55
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
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 plus the recognized obligation payment schedules (ROPS) for January to June of 2012 and July to December of 2012 approved by the State Department of Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of September 30, 2012.
EARNED INTEREST YIELD THIS PERIOD: 0.682% SIX-MONTH TREASURY BILL YIELD: 0.140%
PREPARED BY: APPROVED BY:
Clara Wong, Interim Finance/Director Marian V. Smithson, City Treasurer
Type of Investment
First American Treas Oblig Cl d Corp Trust
Cash
Description of Issuer
First American Funds, Inc.
Description of Bond
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
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
Type of Bond
Bond
Bond
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
L/C Fund
L/C Fund
Reserve Account
Reserve Account
Reserve Account
Project Fund
Project Fund
Special Fund
Special Fund
Special Fund
Reserve Fund
Reserve Fund
Reserve Fund
First American Treas Oblig CI d Corp Trust
FHLB
Cash
First American Treas Oblig Cl d Corp Trust
FHLB
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
Cash
Direct Pay LOC #NZS668499
Cash
First American Treas Oblig Cl d Corp Trust
FHLMC DISCOUNT NOTE
Cash
First American Treas Oblig CI d Corp Trust
Cash
First American Treas Oblig CI d Corp Trust
Cash
First American Government Obligation Fd CL D
FHLB
Cash
Wells Fargo Bank, NA
Original Cost Shares/Face Amount Market Value Rate Maturity Date
560,061.39
1.00
0.00
1.00
568,526.99
0.00
0.00
0.00
561,112.99
1.00
0.00
1.00
Ending Balances
10/13/2013
Ending Balances 1.00 1.00 0.00
Open
1.390
Open
1.390
Open
5/30/2014
5/30/2014
Open
Open
0.03
0.00
0.03
3,774.90
340,812.60
0.00
344,587.50
1,411.00
100,239.00
0.00
101,650.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
0.03
0.00
0.03
3,774.90
346,541.60
0.00
350,316.50
1,411.00
101,924.00
0.00
103,335.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
0.03
0.00
0.03
3,774.90
340,000.00
0.00
343,774.90
1,411.00
100,000.00
0.00
101,411.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
5.100
448.88
800,000.00
0.00
800,448.88
448.88
799,664.00
0.00
800,112.88
448.88
779,100.62
0.00
779,549.50
First American Funds, Inc. Open
U.S. Treas & Agency 9/4/2012
pruchased FNMA note due 03/01/13
Open 50.43
0.00
50.43
50.43
0.00
50.43
50.43
0.00
50.43
First American Funds, Inc.
800,499.31
0.12
0.00
0.00
0.12
779,599.93
0.12
0.00
0.00
0.12
800,163.31
0.12
0.00
0.00
0.12
Ending Balances
Open First American Funds, Inc.
Open
1.390 5/30/2014
4,166.40
992,366.10
0.00
996,532.50
4,166.40
990,000.00
0.00
994,166.40
4,166.40
1,009,047.60
0.00
1,013,214.00
First American Funds, Inc.
U.S. Treas & Agency
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
September 30, 2012
First American Funds, Inc.
U.S. Treas & Agency
First American Funds, Inc.
U.S. Treas & Agency
First American Funds, Inc.
First American Funds, Inc.
Prepared by: Clara W ng
Interim Finance Direc r
Reviewed/ARroied by: TEomas Bachman
Asst. City Manager/Finance Director
City of West Covina
Memorandum
AGENDA
Item No. SA3
Date December 4, 2012
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SUCCESSOR AGENCY TREASURER'S REPORT FOR OCTOBER
2012
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 on 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.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The September Report shows the Agency's portfolio decreased by $116,705 from $6,904,934
on September 30, 2012, to $6,788,229 on October 31, 2012. Approximately 46 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 since
the City could withdraw them at any time. Approximately 52 percent of the portfolio is on
deposit in LACIP and the remaining two percent of available cash is on deposit in the
checking account.
The City Treasurer is on vacation as of the writing of this report, and thus, the October 2012
report does not have her signature. The October 2012 report will be reviewed by the City
Treasurer upon her return from her vacation in early December.
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
OCTOBER 31, 2012
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
September 30
29,314.06
29,314.06
2,026.01
3,810,614.55
3,062,979.93
6,875,620.49
6,904,934.55
DEPOSITS
267,500.00
267,500.00
1.81
2,531.61
22,349.36
24,882.78
292,382.78
WITHDRAWALS
153,964.01
153,964.01
255,000.00
124.66
255,124.66
409,088.67
October 31
142,850.05
142,850.05
2,027.82
3,558,146.16
3,085,204.63
6,645,378.61
6,788,228.66
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
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 plus the recognized obligation payment schedules (ROPS) for January to June of 2012 and July to December of 2012 approved by the State Department of Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of October 31, 2012.
EARNED INTEREST YIELD THIS PERIOD: 0.627%
SIX-MONTH TREASURY BILL YIELD: 0.160%
PREPARED BY: APPROVED BY:
C
Clara Wong, Interim Finance pirector Marian V. Smithson, City Treasurer
ThomaiBicirman, Aisistaiit City Manager/Finance Director