02-01-2011 - CDC Treasurer's Report - December 20100
City of West Covina
Memorandum
AGENDA
Item No. :�?
Date February 1, 2011
TO: Andrew G. Pasmant, Executive Director
and the Community Development Commission
FROM: Thomas Bachman, Assistant City Manager
SUBJECT: CDC TREASURER'S REPORT FOR DECEMBER 2010
RECOMMENDATION:
It is recommended the Community Development Commission Board 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
Community Development Commission Board each month.
The December Report shows the CDC's portfolio increased from $9,513,345.10 on
November 30, 2010, to $14,055,856.31 on December 31, 2010. To ensure funds are
available on short notice to take advantage of development opportunities, the CDC'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 65 percent of the
portfolio is on deposit in LAIF and 34 percent is in LACIP. The remaining 1 percent of
available cash is on deposit in various checking accounts. . This report also shows cash
holdings for the Community Facilities District. These funds are used for district operating
expenses and debt service and are invested in a separate LACIP account.
Bond Detail Report:
The December report also includes a Bond Detail Report. This report shows how Fiscal
Agents are investing City, Community Development Commission and Public Financing
Authority cash, which they hold to service various debts. This information is reported to the
City Council quarterly.
Prepared by: Dennis Swink Revi ed/Ap ed by: Thomas Bachman
Controller Finance Director
i
0
COMMUNITY DEVELOPMENT COMMISSION
STATEMENT OF TREASURER'S ACCOUNTABILITY
DECEMBER 31, 2010
TYPES OF DEPOSITS:
NOVEMBER 30
DEPOSITS WITHDRAWALS
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
$
24,308.54
$ 11,172,542.22 $ 11,047,285.58 $
PACIFIC WESTERN NAT BANK RDA PROGRAMS (SBA/FTHB/HPP)
17,350.90
44,901.30 44,901.30
SUB -TOTAL
$
41,659.44
$ 11,217,443.52 $ 11,092,186.88 $
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
$
4,729,777.13
$ 5,120,000.00 $ 706,000.00 $
LOS ANGELES COUNTY POOL (LACIP)
4,741,908.53
3,254.57 -
SUB -TOTAL
$
9,471,685.66
$ 5,123,254.57 $ 706,000.00 $
TOTAL
$
9,513,345.10
$ 16,340,698.09 $ 11,798,186.88 $
COMMUNITY FACILITIES DISTRICT REVENUE FUND
WELLS FARGO BANK C.F.D. CHECKING
$
1,692.72
$ 1,134,359.44 $ 857,611.54 $
LOS ANGELES COUNTY POOL (LACIP)
614,900.27
568,275.27 -
TOTAL FOR C.F.D. REVENUE FUND
$
616,592.99
$ 1,702,634.71 $ 857,611.54 $
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 six months. This report
is accurate with respect to all information received as of January 19, 2011.
EARNED INTEREST YIELD THIS PERIOD: 0.759%
SIX-MONTH TREASURY BILL YIELD: 0.190%
REVIEWED BY:
PREPARED BY:
Dennis Swink, City Controller
Angel F. Patena, Revenue Services Supervisor
SUBMITTED BY:
A� PPF�QVED BY:
Thom s chman, Assi ity Manager/Finance Director
Mariab V. Smithson City Yr6asurer
DECEMBER 31
149, 565.18
17,350.90
166,916.08
9,143, 777.13
4,745,163.10
13,888,940.23
14,055,856.31
278,440.62
1,183,175.54
1,461,616.16
WEST COVINA COMMUNITY DEVELOPMENT COMMISSION
BOND DETAIL REPORT
December 31, 2010
Description of Bond Type of Bond Type of Investment Description of Issuer Maturity Date Original Cost Shares/Face Amount Market Value Rate
1998 Housing Set -Aside Bonds Series A, B Bond First American Treas Oblig Cl d Corp Trust First American Funds, Inc. Open 0.03 0.03 0.03 -
1998 Housing Set -Aside Bonds Series A, B Bond Cash 0.00 0.00 0.00
0.03 0.03 0.03
1998 Housing Set -Aside Bonds Series A, B
Interest Series A
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
33.43
33.43
33.43
1998 Housing Set -Aside Bonds Series A, B
Interest Series A
Cash
0.00
0.00
0.00
33.43
33.43
33.43
1998 Housing Set -Aside Bonds Series A, B
Interest Series B
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
14.18
14.18
14.18
1998 Housing Set -Aside Bonds Series A, B
Interest Series B
Cash
0.00
0.00
0.00
`1998 Housing Set -Aside Bonds Series A, B
Reserve Series A
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
14.18
346,580.02
14.18
346,580.02
14.18
346,580.02
1998 Housing Set -Aside Bonds Series A, B
Reserve Series A
Cash
0.00
0.00
0.00
346,580.02
346,580.02
346,580.02
1998 Housing Set -Aside Bonds Series A, B
Reserve Series B
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
102,186.32
102,186.32
102,186.32
1998 Housing Set -Aside Bonds Series A, B
Reserve Series B
Cash
0.00
0.00
0.00
102,186.32
102,186.32
102,186.32
1998 Housing Set -Aside Bonds Series A, B
Project Fund Series B
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
114,680.87
114,680.87
114,680.87
1998 Housing Set -Aside Bonds Series A, B
Project Fund Series B
Cash
0.00
0.00
0.00
114,680.87
114,680.87
114, 680.87
1998 Housing Set -Aside Bonds Series A, B
Principal Account
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
194.59
194.59
194.59
1998 Housing Set -Aside Bonds Series A, B
Principal Account
Cash
0.00
0.00
0.00
194.59
194.59
194.59
Ending Balances
563,689.44
563,689.44
563,689.44
1999 Tax Allocation Bonds
L/C Fund
Direct Pay LOC #NZS668499
Wells Fargo Bank, NA
10/13/2013
1.00
3,863,716.00
0.00
1999 Tax Allocation Bonds
L/C Fund
Cash
0.00
0.00
0.00
1.00
3,863.716.00
0.00
Ending Balances
1.00
3,863,716.00
0.00
001 RDA Housing Set -Aside T/A Rev Bonds
Reserve Account
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
576.88
576.88
576.88
001 RDA Housing Set -Aside T/A Rev Bonds
Reserve Account
F H L M C DISCOUNT NOTE
U.S. Treas & Agency
3/1/2011
779,100.62
800,000.00
799,872.00
2001 RDA Housing Set -Aside T/A Rev Bonds
Reserve Account
Cash
0.00
0.00
0.00
779,677.50
800,576.88
800,448.88
2001 RDA Housing Set -Aside T/A Rev Bonds
Project Fund
First American Treas Oblig Cl d Corp Trust
First American Funds, Inc.
Open
50.43
50.43
50.43
2001 RDA Housing Set -Aside T/A Rev Bonds
Project Fund
Cash
0.00
0.00
0.00
50.43
50.43
50.43
Ending Balances
779,727.93
800,627.31
800,499.31
5.270
LDescription of Bond
Type of Bond
2002 RDA T/A Revenue Refunding Bonds
Special Fund
2002 RDA T/A Revenue Refunding Bonds
Special Fund
2002 RDA T/A Revenue Refunding Bonds
Reserve Fund
2002 RDA T/A Revenue Refunding Bonds
Reserve Fund
1996 Special Tax Bonds Bonds Fund
1996 Special Tax Bonds Bonds Fund
40996 Special Tax Bonds Reserve Fund
996 Special Tax Bonds Reserve Fund
'Market valuations have been provided by U.S. Bank Corporate Trust Services
Type of Investment Description of Issuer
First American Treas Oblig Cl d Corp Trust First American Funds, Inc.
Cash
First American Government Obligation Fd CL D First American Funds, Inc.
Cash
First American Treas Oblig Cl d Corp Trust
Cash
Guaranteed Investment Contract
Cash
First American Funds, Inc.
Westdeutsche Landesbank Girozentrale
Maturity Date
Original Cost
Shares/Face Amount
Market Value Rate
Open
0.04
0.04
0.04
0.00
0.00
0.00
0.04
0.04
0.04
Open
1,004,003.50
1,004,003.50
1,004,003.50
0.00
0.00
0.00
1, 004, 003.50
1, 004, 003.50
1, 004, 003.50
Ending Balances
1,004,003.54
1,004,003.54
1,004,003.54
Open
4,891.26
4,891.26
4,891.26
0.00
0.00
0.00
4,891.26
4,891.26
4.891.26
9/1/2022
5,002,670.40
5,002,670.40
5,002,670.40 7.010
0.00
0.00
0.00
5,002,670.40
5,002,670.40
5,002,670.40
Ending Balances
5,007,561.66
5,007,561.66
5,007,561.66
GRAND TOTALS
7,354,983.57
11,239,597.95
7,375,753.95