11-19-2013 - Successor Agency Treasurers Report for the Quarte - SA2 (2).pdfCity of West Co ' ina
Memorandum
AGENDA
Item No. SA 2
Date November 19, 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 THE
QUARTER ENDED SEPTEMBER 30, 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:
The Investment Policy of the City of West Covina also applies to the Successor Agelicy to
the West Covina Redevelopment Agency. In accordance with Section XVI of the City of
West Covina Fiscal Year 2013-2014 Statement of Investment Policy, a Treasurer's Report
for the quarter ended September 30, 2013 is hereby Submitted to the Successor Agency. It
also includes cash held by trustees for all bond issues and cash in the various Suceessor
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 September 2013 Report shows the Agency's portfolio decreased by $4,581,031 from
$9,416,991 on June 30, 2013, to $4,835,960 on September 30, 2013. Approximately 20
percent of the portfolio is invested with the City's pooled cash. The remaining Age ncy'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 80 percel nt 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.
The Bond Detail Report includes Fiscal Agent investments of Successor Agency cash Which
is being held to service various issues of bonded debt.
Prepared by: Reviewed/Approved by:
a.JtA.A7-02-0-17
Denise Bates NitMcKa'y
Accounting Manager Director of Finance & Administrative Services
SUCCESSOR AGENCY STATEMENT OF TREASURER'S ACCOUNTABILITY SEPTEMBER 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 June 30 DEPOSITS WITHDRAWALS September 30 47,339.79 47,339.79 2,030.88 8,186,400.15 1,181,220.48 * 9,369,651.51 9,416,991.30 2,970,000.00 2,970,000.00 1.23 8,674.74 26,209.37 34,885.34 3,004,885.34 3,011,716.04 3,011,716.04 0.00 4,330,000.00 244,200.51 4,574,200.51 7,585,916.55 $ 5,623.75 5,623.75 2,032.11 3,865,074.89 963,229.34 4,830,336.34 4,835,960.09. *- Beginning balances were revised to reflect June 2013 activity posted subsequent to preparation of June 30, 2013 Treasurer's Report. 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 September 17, 2013. 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 January to June 2014 to the State Department of Finance. In January 2014, the Successor Agency is scheduled to receive funds from the DOF-approved ROPS for the January to June 2014 period which will provide sufficient cash flow liquidity to meet estimated expenditures from January to June 2014. This report is accurate with respect to all information received as of November 5, 2013. EARNED INTEREST YIELD THIS PERIOD: 0.666% PREPARED BY: Denise Bates, Accounting Manger SIX-MONTH TREASURY BILL YJELD: 0.04% .41 APPROVED BY: 4*/.. - 71- Marian V. Smiffison, City Treasurer SUBMITT ..06" Nita fVyKay, DireCtor of'Fin ce & Administiltiv,s Services
Page 1 of 2 Type of Investment Description of Issuer 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 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 1999 Tax Allocation Bonds 1999 Tax Allocation Bonds 1999 Tax Allocation Bonds 1999 Tax Allocation Bonds Type of Bond 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 Purchase Fund Purchase Fund L/C Fund L/C Fund First American Tress Oblig Cl d Corp Trust Cash First American Treas Oblig Cl d Corp Trust Cash First American Trees Oblig CI d Corp Trust Cash First American Treas Oblig CI d Corp Trust FHLB Cash First American Trees Oblig CI d Corp Trust FHLB Cash First American Treas Oblig Cl d Corp Trust Cash First American Treas Oblig CI d Corp Trust Cash First American Trees Oblig CI d Corp Trust Cash First American Treas Oblig Cl d Corp Trust Cash Direct Pay LOC #NZS668499 Cash Original Cost Shares/Face Amount Market Value Rate Maturity Date 627.80 627.80 627.80 Ending Balances Open Open Open Open 5/30/2014 Open 5/30/2014 Open Open Ending Balances Open Open 10/13/2013 0.03 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00 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 0.00 194.59 561,112.99 627.80 0.00 0.00 62/.130 0.00 0.00 0.00 0.00 0.00 0.00 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 0.00 101,411.00 114,680.87 0.00 114,680.87 194.59 0.00 560,061.39 627.80 0.00 0.00 62/.80 0.00 0.00 0.00 0.03 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00 3,774.90 343,719.60 0.00 347,494.50 1,411.00 101,094.00 0.00 102,505.00 114,680.87 0.00 114,680.87 194.59 0.00 194.59 564,874.99 627.80 0.00 0.00 621.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.420 1.420 194.59 First American Funds, Inc. First American Funds, Inc. First American Funds, Inc. First American Funds, Inc. U.S. Trees & Agency First American Funds, Inc. U.S. Treas & Agency First American Funds, Inc. WEST COVINA SUCCESSOR AGENCY BOND DETAIL REPORT September 30, 2013 First American Funds, Inc. First American Funds, Inc. First American Funds, Inc. Wells Fargo Bank, NA
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 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 Trees Oblig Cl d Corp Trust Cash First American Treas Oblig Cl d Corp Trust Cash First American Trees Oblig Cl d Corp Trust FNMA DISCOUNT NOTE Cash First American Treas Oblig Cl d Corp Trust Cash First American Treas Oblig Cl d Corp Trust Cash First American Trees 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 0.00 368.88 779,100.62 0.00 779,469.50 50.43 0.00 50.43 779,519.93 0.11 0.00 0.00 0.11 0.00 0.00 0.00 4,166.40 992,366.10 0.00 996,532.50 996,532.61 WEST COVINA SUCCESSOR AGENCY BOND DETAIL REPORT September 30, 2013 Description of Bond Type of Bond Type of Investment Description of Issuer SharelFace Amount Market Value Rate 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. Treas & Agency 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 368.88 800,000.00 0.00 800,368.88 368.88 799,944.00 0.00 800,312.88 5.130 50.43 50.43 0.00 0.00 50.43 50.43 800,363.31 800,419.31 0.11 0.00 0.00 0.11 0.00 0.00 0.11 0.11 0.00 0.00 0.00 0.00 0.00 0.00 4.166.40 990,000.00 0.00 994,166.40 4,166.40 1.000,830.60 0.00 1,004,997.00 1.420 994,166.51 1,004,997.11 *Market valuations have been provided by U.S. Bank Corporate Trust Services *Market valuations have been provided by U.S. Bank Corporate Trust Services GRAND TOTALS 2,337,793.33 2,355,275.01 2,370,863.21 GRAND TOTALS 2,337,793.33 2,355,275.01 2,370,863.21 Page 2 of 2