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 May 2022.
DATE: June 27, 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 May 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 May 2022 .............................................................. 2
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 30,546,050$ 8,581,400$ (2,335,440)$ 36,792,010 011 General Fund Capital Projects 1,249,619 - (1,000) 1,248,619 012 Public Projects (1,842,331) - -(1,842,331)
999 Cash Clearing Unallocated Interest 18 13,963 - 13,981 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,503,547 - - 1,503,547
022 Public Facilities 162,021 - - 162,021
020 Public Arts 148,139 - - 148,139
Other Funds
013 DOT Highway Relinquishment 4,504,203 - (13,842) 4,490,361 015 Transportation Development Act (TDA) Article 3 (56,000) - -(56,000) 030 Grant Projects (192,854) - (133,464) (326,318)
037 Drug Rehabilitation Program 248,990 - -248,990
040 Public Educational Government (PEG) 805,833 26,110 - 831,943 050 California COPS 258,916 5,027 (2,534) 261,409
090 Agency Fund/Refundable Deposits-Private Projects 1,403,321 18,105 (22,311) 1,399,115 100 Proposition A - Transportation 1,998,507 178,778 (67,638) 2,109,647 115 Measure M - Streets 2,150,333 - (12,996) 2,137,337 125 Measure R - Streets 2,127,421 111,127 (49,436) 2,189,112 135 Proposition C - Streets 2,240,687 148,740 (74,134) 2,315,293 140 State Gas Tax - Streets 3,977,049 150,609 (98,001) 4,029,657 145 Road Maintenance and Rehabilitation Account (RMRA)2,885,837 125,325 (15,158) 2,996,004 150 Air Quality Management District Fees 313,887 - (4,341) 309,546 230 Sewer Reconstruction 316,278 - -316,278
31X Municipal Water System 1,991,012 - (7,103) 1,983,909 320 Measure W 3,610,946 - (2,046) 3,608,900
510 Economic Development 1,073,665 - (6,293) 1,067,372 530 Equipment Replacement 656,881 - (8,331) 648,550
540 GIS Update 209,889 1,571 - 211,460
542 General Planning and Zoning Update 602,500 4,712 -607,212 600 Building and Safety 255,835 42,173 (63,106) 234,902 602 CASp Certification and Training 83,334 1,184 - 84,518 700 Debt Service - Public Facilities Corporation - - - - 710 Debt Service - Financing Authority (8,673) 2,333 - (6,340) 720 Debt Service - 2021/2018 Transportation COPS - - - - 730 Debt Service - 2021 Pension Obligation Bonds 13,605 - - 13,605 900 Community Development Block Grant (CDBG)(143,527) 1,200 (42,086) (184,413) 910 HOME Investment Partnership 106,167 - (34,225) 71,942 920 ARPA SLFRP Fund 6,350,200 - -6,350,200
944 Parking District No. 1 1,744 - (2,718) (974)
Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 459,620 39,164 (3,656) 495,128 TOTAL CITY OF BELLFLOWER 70,012,669$ 9,451,521$ (2,999,859)$ 76,464,331$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust 20$ -$ -$ 20$
970 Redevelopment Obligation Retirement Fund 10,514 - - 10,514 972 Successor Agency Administration Fund 6,905 - (1,066) 5,839 TOTAL SUCCESSOR AGENCY 17,439$ -$ (1,066)$ 16,373$
COMBINED TOTAL - CITY & SUCCESSOR AGENCY 70,030,108$ 9,451,521$ (3,000,925)$ 76,480,704$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of June 22, 2022)
TREASURER'S REPORT FOR THE MONTH OF MAY 2022
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\ TR 22-05 -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 10,058.40 April 8, 2022 Park Fac Fee/16830 Grand 4,269.30 April 12, 2022 Park Fac Fee/16240 Grand 665,079.30$
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 Lakewood3,035.44 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 1,185.00 April 8, 2022 Public Fac Fee/16830 Grand 277.33 April 12, 2022 Public Face Fee/16240 Grand 133,843.43$
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:
168.03$ May 31, 2022
Veterans Memorial Enhancements Project - Bronze
Plaque
168.03$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2021 - May 31, 2022)
S:\AA\Treasurer's Reports\
TR 22-05-3-
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)
S:\AA\Treasurer's Reports\
TR 22-05
-4-
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$
S:\AA\Treasurer's Reports\
TR 22-05
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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)41,353,044$ 4,000,000$ (3,000,000)$ 42,353,044$ N/A 41,876,722$ 0.684%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)24,751,846 13,934 - 24,765,780 N/A 23,836,713 0.800%Detail report available at:
https://ttc.lacounty.gov/monthly-reports/
CalTrust / Local Agency Investment Pool (4)
-Investment Trust of California/CalTRUST -Short
Term
48,384 30 - 48,414 N/A 50,405 0.680%Local Agency Investment Pool
Investment Trust of
California, dba CalTRUST
Investments Held By Trustee -
Bank of New York Mellon
Trust Company
-Trust Cash Account
(2008/2018) 2021 COPs
- - - - N/A - 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 UnionBanc Invesment Services
-Federal Home Loan Bank Notes - 3,000,000 - 3,000,000 N/A 3,000,000 3.250%US Agency Notes Federal Home Loan Bank 5/17/2024 TOTAL INVESTMENTS 66,166,879 7,013,964 (3,000,000) 70,180,843 68,777,445 BANK DEPOSITS & CERTIFICATES OF DEPOSIT (2):
-General Operating Account (3)3,817,876 12,317,526 (9,877,429) 6,257,973 N/A 6,257,973 N/A Checking Account Bank of the West N/A -Payroll Account (3)(9,785) 997,227 (996,559) (9,117) N/A (9,117) N/A Checking Account Bank of the West N/A -Revolving Account (3)- 157,341 (157,341) - N/A - N/A Checking Account Bank of the West N/A -Farmers Market (3)26,385 946 - 27,331 N/A 27,331 N/A Checking Account Bank of the West N/A -Sec. 125 Flex Spending Account (3)13,609 (4,528) 9,080 N/A 9,080 N/A Checking Account Bank of the West N/A -Pooled Cash Allocated to SA (6,905) 1,066 - (5,839) N/A (5,839) TOTAL BANK DEPOSITS 3,841,180 13,474,106 (11,035,857) 6,279,428 6,279,428 PETTY CASH 4,610 - (550) 4,060 N/A 4,060
CITY - TOTAL DEPOSITS AND
INVESTMENTS 70,012,669$ 20,488,070$ (14,036,407)$ 76,464,331$ 75,060,933$
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF MAY 2022
Dollar Amount Invested
(As of June 22, 2022)
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-05 -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 MAY 2022
Dollar Amount Invested
(As of June 22, 2022)
SUCCESSOR AGENCY:
Los Angeles County Pooled Investment Fund (5)20$ -$ -$ 20$ NA 19 0.800%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)10,493 - - 10,493 N/A 10,493 N/A Checking Account Bank of the West N/A Investments Held By Trustee -
Bank of New York Mellon Trust Co.
-Taxable Tax Allocation Refunding Bonds, Series 2016
- Dreyfus Treasury Securities Money Market Fund 21 - - 21 N/A 21 0.680%Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 10,534 - - 10,534 10,533 Pooled Cash Account 6,905 - (1,066) 5,839 5,839
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 17,439$ -$ (1,066)$ 16,373$ 16,372$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 70,030,108$ 20,488,070$ (14,037,473)$ 76,480,704$ 75,077,305$ (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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.For bank deposits including certificates of deposit and money market accounts, market value is the same as the carrying value.
D.Market values are provided on the monthly trustee and investment statements and Union Bank Investment Services.
NOTES FOR THE CITY AND SUCCESSOR AGENCY:
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-05 -7-
ACTUAL BUDGET
Fiscal Year Reporting FY 2021-22
2020-21 Month To Date FY 2021-22
Beginning Cash Balance 187,835$ 258,916$ 220,332$ 220,332$ Receipts:
SLESF Funding 185,977 5,027 190,774 175,000 Interest 875 - 468 1,000 Total Receipts 186,852 5,027 191,242 176,000 Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (110,109) - (109,000) (109,000) Equipment Lease (48,571) - (22,796) (49,000) Equipment Purchases - - (10,430) - Total Allocations (158,680) - (142,226) (158,000) Receivables and Payables:
Add: Beginning receivables 609 - 156 - Deduct: Ending receivables (156) - - - Deduct: Beginning accounts payable (4,223) (2,534) (8,095) - Add: Ending accounts payable 8,095 - - - Net Adjustment 4,325 (2,534) (7,939) - Ending Cash Balance 220,332$ 261,409$ 261,409$ 238,332$ ACTUAL
(As of June 22, 2022)
TREASURER'S REPORT FOR THE MONTH OF MAY 2022
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND - FUND NO. 050
STATEMENT OF RECEIPTS, ALLOCATIONS AND EXPENDITURES
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-05 -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 repor 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 S:\AA\Treasurer's Reports\TR 22-05 -9-
TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 49,529,238 21.93 -1.69
Bonds 0 0.00 0
Notes 102,013,124 45.16 +0.33
Strips 0 0.00 0
Total Government 151,542,362 67.09 -1.36
Agency Debentures 12,970,072 5.74 +0.19
Certificates of Deposit 13,835,000 6.13 +0.22
Bank Notes 0 0.00 0
Repurchases 0 0.00 0
Agency Discount Notes 29,979,362 13.27 +0.89
Time Deposits 4,224,000 1.87 -0.01
GNMAs 0 0.00 0
Commercial Paper 12,043,520 5.33 +0.03
Remics 5,098 0.00 0
Corporate Bonds 448,806 0.20 +0.01
PMIA Loans 825,022 0.37 +0.03
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 225,873,242 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY May 2022 April 2022
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 825 41,073,012 939 46,781,221
Other 14 148,415 21 785,387
Time Deposits 56 1,693,000 83 2,453,000
Total 895 42,914,427 1,043 50,019,608
PMIA Monthly Average Effective Yield (%)0.684 0.523
Year to Date Yield Last Day of Month (%)0.318 0.272
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
May 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 April 30, 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 $23.467
Schools and Community Colleges 20.887
Discretionary Participants 4.100
Total $48.454
The Treasury Pool participation composition is as follows:
Non-discretionary Participants 91.53%
Discretionary Participants:
Independent Public Agencies 7.92%
County Bond Proceeds and Repayment Funds 0.55%
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 1, 2022, 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 May 31, 2022, the April 30, 2022 book value of the Treasury Pool was approximately $48.454 billion, and the corresponding market value was approximately $46.636 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 April 30, 2022:
Type of Investment % of Pool
Certificates of Deposit 3.93
U.S. Government and Agency Obligations 69.50
Bank Acceptances 0.00
Commercial Paper 26.49
Municipal Obligations 0.06
Corporate Notes & Deposit Notes 0.02
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of April 30, 2022, approximately 38.63% of the investments mature within 60 days, with an average of 906 days to maturity for the entire portfolio.
TreasPool Update
04/30/2022
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