http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/Staff Report for TR.docx
14-B
TO: Honorable Mayor and Members of the City Council
ATTENTION: Jeffrey L. Stewart, City Manager
FROM: Tae Rhee, Finance Director/City Treasurer
SUBJECT: Consideration and possible action to receive and file the Treasurer’s Report for the Month of March 2022.
DATE: April 25, 2022
EXECUTIVE SUMMARY
The Investment Policy requires the City Treasurer to provide to the City Council a monthly investment report which contains certain required information pursuant to Government Code Section 53646. The Treasurer’s Report also contains certain other information required pursuant to BMC Subsection 2.12.030.B.5, which requires submission of monthly financial statements of receipts and disbursements of the City to the City Council and City Manager. Furthermore, the Treasurer’s Report contains revenue and expenditure details on the development impact fees (Park Facilities Fee and Public Facilities Fee) and Public Arts Fee for fiscal years 2020-21 and 2021-22, from July 1, 2021 to March 31, 2022.
RECOMMENDATION TO CITY COUNCIL
1) Receive and file the Treasurer’s Report; or
2) Alternatively, discuss and take other action related to this item.
FISCAL IMPACT
None
ATTACHMENT
Treasurer’s Report for the Month of March 2022 ........................................................... 2
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NOTE: Figures with parentheses indicate negative amounts.
Beginning Revenues Expenditures Ending
Balance/and Other and Other Balance/
(Deficit)Deposits Disbursements (Deficit)
CITY OF BELLFLOWER:
UNRESTRICTED:
010 General Fund 29,759,069$ 2,088,682$ (3,890,039)$ 27,957,712 011 General Fund Capital Projects 1,328,848 - (77,819) 1,251,029 012 Public Projects (1,842,331) - - (1,842,331) 999 Cash Clearing Unallocated Interest 7,239 9,843 - 17,082 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,309,200 178,824 - 1,488,024 022 Public Facilities 149,528 10,895 - 160,423 020 Public Arts 148,004 - - 148,004 Other Funds
013 DOT Highway Relinquishment 4,501,780 - - 4,501,780 015 Transportation Development Act (TDA) Article 3 (3,631) - - (3,631) 030 Grant Projects (167,360) 11,300 (26,508) (182,568) 037 Drug Rehabilitation Program 248,990 - - 248,990 040 Public Educational Government (PEG) 781,381 24,339 - 805,720 050 California COPS 255,186 4,592 (5,065) 254,713 090 Agency Fund/Refundable Deposits-Private Projects 1,356,875 42,460 (1,498) 1,397,837 100 Proposition A - Transportation 1,918,756 152,687 (149,962) 1,921,481 115 Measure M - Streets 1,937,121 247,646 (3,964) 2,180,803 125 Measure R - Streets 2,016,075 94,947 (32,793) 2,078,229 135 Proposition C - Streets 2,165,594 127,013 (142,492) 2,150,115 140 State Gas Tax - Streets 3,895,917 139,343 (93,704) 3,941,556 145 Road Maintenance and Rehabilitation Account (RMRA) 2,751,450 120,163 (32,942) 2,838,671 150 Air Quality Management District Fees 290,178 23,441 - 313,619 230 Sewer Reconstruction 316,278 - - 316,278 31X Municipal Water System 2,142,170 - (144,036) 1,998,134 320 Measure W 3,442,961 177,000 (3,886) 3,616,075 510 Economic Development 1,149,886 - (43,731) 1,106,155 530 Equipment Replacement 683,721 - (25,763) 657,958 540 GIS Update 206,529 1,715 - 208,244 542 General Planning and Zoning Update 607,736 5,144 - 597,939 600 Building and Safety 302,664 44,284 (67,856) 279,092 602 CASp Certification and Training 80,562 2,122 - 82,684 700 Debt Service - Public Facilities Corporation - - - - 710 Debt Service - Financing Authority (16,340) 68,942 (930) 51,672 720 Debt Service - 2018 Transportation COPS 8,479 84,524 (1,290) 91,713 730 Debt Service - 2021 Pension Obligation Bonds 13,605 - - 13,605 900 Community Development Block Grant (CDBG) (171,890) 178,103 (92,995) (86,782) 910 HOME Investment Partnership 83,489 46,209 (15,704) 113,994 920 ARPA SLFRP Fund 6,350,200 - - 6,350,200 944 Parking District No. 1 (2,611) 1,531 (3,086) (4,166) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 506,446 96 (11,043) 495,499 TOTAL CITY OF BELLFLOWER 68,511,754$ 3,885,845$ (4,882,047)$ 67,515,552$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust 20$ -$ -$ 20$ 970 Redevelopment Obligation Retirement Fund 12,414 - (1,900) 10,514 972 Successor Agency Administration Fund 11,857 - (2,915) 8,942 TOTAL SUCCESSOR AGENCY 24,291$ -$ (4,815)$ 19,476$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 68,536,045$ 3,885,845$ (4,886,862)$ 67,535,028$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of April 18, 2022)
TREASURER'S REPORT FOR THE MONTH OF MARCH 2022
TAE G. RHEE, FINANCE DIRECTOR/TREASURER
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-03 -2-
PARK FACILITIES FEES
Revenues:
11,521.44$ July 12, 2021 Park Fac Fee/14628 Charlemagne 17,739.36 July 20, 2021 Park Fac Fee/8557 Ramona
14,093.95 August 9, 2021 Park Fac Fee/14737 Blaine 9,026.77 September 9, 2021 Park Fac Fee/17028 Woodruff 343,026.00 September 30, 2021 Park Fac Fee/9735 Oak 21,839.00 October 11, 2021 Park Fac Fee/9437 Rose 18,288.00 February 3, 2022 Park Fac Fee/8708 Flower 18,288.00 February 9, 2022 Park Fac Fee/9621 Mayne 18,105.12 February 23, 2022 Park Fac Fee/9419 Ives 9,378.46 March 16, 2022 Park Fac Fee/16240 Grand 169,445.50 March 23, 2022 Park Fac Fee/8827-8829 Artesia 650,751.60$
Project Expenditures:
75.00$ November 9, 2021 TP Playground Replacement
75.00$
PUBLIC FACILITIES FEES
Revenues:
746.55$ July 12, 2021 Public Fac Fee/14628 Charlemagne 1,149.45 July 20, 2021 Public Fac Fee/8557 Ramona 913.24 August 9, 2021 Public Fac Fee/14737 Blaine 584.90 September 9, 2021 Public Fac Fee/17028 Woodruff 107,940.66 September 30, 2021 Public Fac Fee/9735 Oak 2,370.00 October 11, 2020 Public Fac Fee/9437 Rose 1,203.38 October 20, 2021 Public Fac Fee/13110-13124 Lakewood 3,035.44 November 10, 2021 Public Fac Fee/16710 Bellflower 1,185.00 February 3, 2022 Public Fac Fee/8708 Flower 1,185.00 February 9, 2022 Public Fac Fee/9621 Mayne 1,173.15 February 23, 2022 Public Fac Fee/9419 Ives 1,185.00 March 8, 2022 Public Fac Fee/15352 Leahy 607.69 March 16, 2022 Public Fac Fee/16240 Grand 9,101.64 March 23, 2022 Public Fac Fee/8827-8829 Artesia 132,381.10$
Project Expenditures:
-$
-$
PUBLIC ARTS FEES
Revenues:
9,000.00$ October 20, 2021 Public Arts Fee/13110-13124 Lakewood 18,000.00 November 11, 2021 Public Arts Fee/16710 Bellflower 27,000.00$
Project Expenditures:
-$
-$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2021 - March 31, 2022)
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-03
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PARK FACILITIES FEES
Revenues:
9,540.22$ August 25, 2020 Park Fac Fee/9605 Ives
21,839.00 September 22, 2020 Park Fac Fee/9911 Park 21,839.00 September 24, 2020 Park Fac Fee/9258 Ives 54,864.00 October 27, 2020 Park Fac Fee/9258 Walnut 10,367.99 November 18, 2020 Park Fac Fee/8640 Cedar 16,276.32 November 19, 2020 Park Fac Fee/9435 Jefferson 13,720.83 November 30, 2020 Park Fac Fee/10336 Park 17,922.24 December 2, 2020 Park Fac Fee/13612 MCNAB 14,377.73 December 3, 2020 Park Fac Fee/9461 Park 17,973.46 December 14, 2020 Park Fac Fee/14721 Ryon 4,206.24 December 15, 2020 Park Fac Fee/16831 Grand 7,132.32 December 15, 2020 Park Fac Fee/16407 Grand 15,179.07 December 16, 2020 Park Fac Fee/10210 Trabuco 9,604.40 January 11, 2021 Park Fac Fee/9118 Belmont 17,726.21 January 28, 2021 Park Fac Fee/16222 Woodruff 25,622.98 March 16, 2021 Park Fac Fee/9616 Rose
14,447.52 March 17, 2021 Park Fac Fee/14038 Charlemagne 18,151.86 March 30, 2021 Park Fac Fee/8729 Flower 18,288.00 March 30, 2021 Park Fac Fee/9722 Pacific 21,839.00 May 19, 2021 Park Fac Fee/9320 Ives
350,918.39$
Project Expenditures:
22,604.00$ Installation of Fence at Caruthers Park
109,650.00 Installation of Fence at Constitution Park 89,566.00 Veterans Memorial Enhancements Project
221,820.00$
PUBLIC FACILITIES FEES
Revenues:
669.59$ July 31, 2020 Public Fac Fee/ 9712 Somerset 1,416.00 August 25, 2020 Public Fac Fee/9605 Ives 1,416.00 September 22, 2020 Public Fac Fee/9911 Park 1,416.00 September 24, 2020 Public Fac Fee/9258 Ives 210.56 September 30, 2020 Public Fac Fee/10434 Alondra 3,555.00 October 1, 2020 Public Fac Fee/9258 Walnut 671.81 November 18, 2020 Public Fac Fee/8640 Cedar 1,054.65 November 19, 2020 Public Fac Fee/9435 Jefferson 889.63 Novemeber 30, 2020 Public Fac Fee/10336 Park 1,161.30 December 2, 2020 Public Fac Fee/13612 MCNAB 931.62 December 3, 2020 Public Fac Fee/9461 Park 1,164.61 December 14, 2020 Public Fac Fee/14721 Ryon 272.55 December 15, 2020 Public Fac Fee/16831 Grand 462.15 December 15, 2020 Public Fac Fee/16407 Grand 983.55 December 16, 2020 Public Fac Fee/10210 Trabuco 622.33 January 11, 2021 Public Fac Fee/9118 Belmont 1,148.59 January 28, 2021 Public Fac Fee/16222 Woodruff 2,097.45 March 16,2021 Public Fac Fee/9616 Rose 936.15 March 17, 2021 Public Fac Fee/14038 Charlemagne 1,176.17 March 30, 2021 Public Fac Fee/8729 Flower 1,185.00 March 30, 2021 Public Fac Fee/9722 Pacific 1,750.84 April 1, 2021 Public Fac Fee/17648 Bellflower 1,416.00 May 19, 2021 Public Fac Fee/9320 Ives
26,607.55$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2020 - June 30, 2021)
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-03
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DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2020 - June 30, 2021)
PUBLIC FACILITIES FEES (Continued)
Project Expenditures:
-$
-$
PUBLIC ARTS FEES
Revenues:
3,500.00$ July 31, 2020 Public Arts Fee/9712 Somerset 22,584.30 September 30, 2020 Public Arts Fee/10434 Alondra 26,084.30$
Project Expenditures:
179,099.00$ Veterans Memorial Enhancements Project
179,099.00$
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-03
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Beginning Disbursements/Ending Yield Type of Issuer of
Balance/Bond Prem.Balance/Par Market Interest (If Diff.)/Investment/Investment/Date of (Deficit)Deposits Amort./Discount (Deficit)Value Value Rate Steps Deposit Deposit Maturity CITY OF BELLFLOWER :
See attached Pooled Money Investment Account Portfolio.
Local Agency Investment Fund (1)41,321,873$ -$ -$ 41,321,873$ N/A 40,857,148$ 0.365%Detail report available at:
https://www.treasurer.ca.gov/pmia-laif/pmia/index.asp
See attached Los Angeles County Pooled Surplus Investments.
Los Angeles County Pooled Investment Fund (5)21,730,222 9,829 - 21,740,051 N/A 21,328,253 0.630%Detail report available at:
https://ttc.lacounty.gov/monthly-reports/
CalTrust / Local Agency Investment Pool (4)
-Investment Trust of California/CalTRUST -Short
Term
48,353 13 - 48,366 N/A 50,357 0.320%Local Agency Investment Pool
Investment Trust of
California, dba CalTRUST
Investments Held By Fiscal Agents -
Bank of New York - Western
Trust Company
-Trust Cash Account
(2008/2018) 2021 COPs
15,350 - 142,487 157,837 N/A 157,837 0.000% Trust Cash Account Bank of New York N/A -Trust Cash Account
2021 Pension Obligation Bonds
13,605 - - 13,605 N/A 13,605 0.000% Trust Cash Account Bank of New York N/A TOTAL INVESTMENTS 63,129,403 9,842 142,487 63,281,732 62,407,200 BANK DEPOSITS & CERTIFICATES OF DEPOSIT (2):
-General Operating Account (3)5,187,204 9,747,383 (10,727,216) 4,207,371 N/A 4,207,371 N/A Checking Account Bank of the West N/A -Payroll Account (3)(7,367) 1,398,352 (1,401,578) (10,593) N/A (10,593) N/A Checking Account Bank of the West N/A -Revolving Account (3)- 183,453 (183,453) - N/A - N/A Checking Account Bank of the West N/A -Farmers Market (3)24,064 1,074 - 25,138 N/A 25,138 N/A Checking Account Bank of the West N/A -Sec. 125 Flex Spending Account (3)20,251 (4,016) 16,235 N/A 16,235 N/A Checking Account Bank of the West N/A - Pooled Cash Allocated to SA (11,857) 2,915 - (8,942) N/A (8,942) HOME Account (Restricted)
- HOME Investment Trust Fund 165,446 1 (165,446) 1 N/A 1 0.010% Money Market Fund Bank of the West N/A TOTAL BANK DEPOSITS 5,377,741 11,333,178 (12,481,709) 4,229,210 4,229,210 PETTY CASH 4,610 - - 4,610 N/A 4,610
CITY - TOTAL DEPOSITS AND
INVESTMENTS 68,511,754$ 11,343,020$ (12,339,222)$ 67,515,552$ 66,641,020$
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF MARCH 2022
Dollar Amount Invested
(As of April 18, 2022)
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-03 -6-
Beginning Disbursements/Ending Yield Type of Issuer of
Balance/Bond Prem.Balance/Par Market Interest (If Diff.)/Investment/Investment/Date of (Deficit)Deposits Amort./Discount (Deficit)Value Value Rate Steps Deposit Deposit Maturity
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF MARCH 2022
Dollar Amount Invested
(As of April 18, 2022)
SUCCESSOR AGENCY:
Los Angeles County Pooled Investment Fund (5)20$ -$ -$ 20$ NA 20 0.630%See attached Los Angeles County Pooled Surplus Investments. - BUSD Trust Fund Detail report available at:
https://ttc.lacounty.gov/monthly-reports/
BOW Business Checking Account (2) (3)12,393 - (1,900) 10,493 N/A 10,493 N/A Checking Account Bank of the West N/A
Investments Held By Fiscal Agent -
Bank of New York - Western Trust Co.
-Taxable Tax Allocation Refunding Bonds, Series 2016
- Dreyfus Treasury Securities Money Market Fund 21 - - 21 N/A 21 0.000% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 12,434 - (1,900) 10,534 10,534 Pooled Cash Account 11,857 - (2,915) 8,942 8,942
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 24,291$ -$ (4,815)$ 19,476$ 19,476$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 68,536,045$ 11,343,020$ (12,344,037)$ 67,535,028$ 66,660,496$ (1) Local Agency Investment Fund (LAIF) is a special fund of the California State Treasury through which local governments may pool investments. The market value factor is provided by LAIF on a quarterly basis as of March 31, June 30, September 30, and December 31.
The monthly market value determination, for the purpose of this Treasurer's Report, is made based on the use of the latest available market value factor. (2)All bank deposits are insured up to $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. (3) Analysis account.
(4) CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5) Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B. Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C. For bank deposits including certificates of deposit and money market accounts, market value is the same as the carrying value.
D. Market values are provided on the monthly trustee and investment statements and Union Bank Investment Services.
NOTES FOR THE CITY AND SUCCESSOR AGENCY:
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-03 -7-
ACTUAL BUDGET
Fiscal Year Reporting FY 2021-22
2020-21 Month To Date FY 2021-22
Beginning Cash Balance 187,835$ 255,186$ 220,332$ 220,332$ Receipts:
SLESF Funding 185,977 4,592 181,772 175,000 Interest 875 - 240 1,000 Total Receipts 186,852 4,592 182,012 176,000 Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (110,109) - (109,000) (109,000) Equipment Lease (48,571) (5,065) (20,263) (49,000) Equipment Purchases - - (10,429) - Total Allocations (158,680) (5,065) (139,692) (158,000) Receivables and Payables:
Add: Beginning receivables 609 - 156 - Deduct: Ending receivables (156) - - - Deduct: Beginning accounts payable (4,223) - (8,095) - Add: Ending accounts payable 8,095 - - - Net Adjustment 4,325 - (7,939) - Ending Cash Balance 220,332$ 254,713$ 254,713$ 238,332$ ACTUAL
(As of April 18, 2022)
TREASURER'S REPORT FOR THE MONTH OF MARCH 2022
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND - FUND NO. 050
STATEMENT OF RECEIPTS, ALLOCATIONS AND EXPENDITURES
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-03 -8-
The City of Bellflower and Successor Agency invest funds in the State of California Local Agency Investment Fund and the Los Angeles County Pooled Investment Fund. The latest summary reports are attached, and the detail reports are available at:
State of California Local Agency Investment Fund:
Local Agency Investment Fund (LAIF)
http://www.treasurer.ca.gov/pmia-laif/laif/index.asp
Pooled Money Investment Account (PMIA)
http://www.treasurer.ca.gov/pmia-laif/pmia/index.asp
Los Angeles County Pooled Investment Fund:
Los Angeles County Pooled Surplus Investments
https://ttc.lacounty.gov/monthly-reports/
CITY OF BELLFLOWER & BELLFLOWER SUCCESSOR AGENCY
TREASURER'S REPORT
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-03 -9-
TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 46,438,365 22.34 -1.01
Bonds 0 0.00 0
Notes 91,147,036 43.84 +1.33
Strips 0 0.00 0
Total Government 137,585,401 66.18 +0.32
Agency Debentures 12,017,572 5.78 -0.53
Certificates of Deposit 15,335,000 7.38 +0.35
Bank Notes 0 0.00 0
Repurchases 0 0.00 0
Agency Discount Notes 24,949,940 12.00 -0.02
Time Deposits 4,135,000 1.99 0.00
GNMAs 0 0.00 0
Commercial Paper 12,697,608 6.11 -0.10
Remics 5,704 0.00 0
Corporate Bonds 424,350 0.20 -0.01
PMIA Loans 756,663 0.36 -0.01
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 207,907,238 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY March 2022 February 2022
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 940 47,976,085 867 43,141,350
Other 4 163,576 5 10,823
Time Deposits 68 2,199,500 45 1,136,000
Total 1,012 50,339,161 917 44,288,173
PMIA Monthly Average Effective Yield (%) 0.365 0.278
Year to Date Yield Last Day of Month (%) 0.240 0.223
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
March 31, 2022
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THE LOS ANGELES COUNTY POOLED SURPLUS INVESTMENTS
The Treasurer and Tax Collector (the Treasurer) of Los Angeles County has the delegated authority to invest funds on deposit in the County Treasury (Treasury Pool).
As of February 28, 2022, investments in the Treasury Pool were held for local agencies including school districts, community college districts, special districts and discretionary depositors such as cities and independent districts in the following amounts:
Invested Funds
Local Agency (in billions)
County of Los Angeles and Special Districts $17.737
Schools and Community Colleges 20.156
Discretionary Participants 4.495
Total $42.388
The Treasury Pool participation composition is as follows:
Non-discretionary Participants 89.40%
Discretionary Participants:
Independent Public Agencies 9.97%
County Bond Proceeds and Repayment Funds 0.63%
Total 100.00%
Decisions on the investment of funds in the Treasury Pool are made by the County Investment Officer in accordance with established policy, with certain transactions requiring the Treasurer's prior approval. In Los Angeles County, investment decisions are governed by Chapter 4 (commencing with Section 53600) of Part 1 of Division 2 of Title 5 of the California Government Code, which governs legal investments by local agencies in the State of California, and by a more restrictive Investment Policy developed by the Treasurer and adopted by the Los Angeles County Board of Supervisors on an annual basis. The Investment Policy adopted on March 9, 2021, reaffirmed the following criteria and order of priority for selecting investments:
1. Safety of Principal
2. Liquidity
3. Return on Investment
The Treasurer prepares a monthly Report of Investments (the Investment Report) summarizing the status of the Treasury Pool, including the current market value of all investments. This report is submitted monthly to the Board of Supervisors. According to -11-
the Investment Report dated March 31, 2022, the February 28, 2022 book value of the Treasury Pool was approximately $42.388 billion, and the corresponding market value was approximately $41.585 billion.
An internal controls system for monitoring cash accounting and investment practices is in place. The Treasurer's Compliance Auditor, who operates independently from the Investment Officer, reconciles cash and investments to fund balances daily. The Compliance Auditor’s staff also reviews each investment trade for accuracy and compliance with the Board adopted Investment Policy. On a quarterly basis, the County’s outside independent auditor (External Auditor) reviews the cash and investment reconciliations for completeness and accuracy. Additionally, the External Auditor reviews investment transactions on a quarterly basis for conformance with the approved Investment Policy and annually accounts for all investments.
The following table identifies the types of securities held by the Treasury Pool as of February 28, 2022:
Type of Investment % of Pool
Certificates of Deposit 4.72
U.S. Government and Agency Obligations 67.89
Bank Acceptances 0.00
Commercial Paper 27.24
Municipal Obligations 0.07
Corporate Notes & Deposit Notes 0.08
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of February 28, 2022, approximately 34.14% of the investments mature within 60 days, with an average of 1,015 days to maturity for the entire portfolio.
TreasPool Update
02/28/2022
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