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 September 2022.
DATE: November 14, 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 2021-22 and 2022-23, from July 1, 2022 to September 30, 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 September 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 31,749,457$ 1,995,877$ (2,486,516)$ 31,258,818 011 General Fund Capital Projects 12,215,986 - (166,946) 12,049,040 012 Public Projects (1,842,331) - - (1,842,331) 999 Cash Clearing Unallocated Interest 17,747 18,647 - 36,394 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,501,687 35,223 (11,198) 1,525,712 022 Public Facilities 173,113 2,289 (1) 175,401 020 Public Arts 311,350 - (338) 311,012 Other Funds
013 DOT Highway Relinquishment 4,495,674 - (4,303) 4,491,371 015 Transportation Development Act (TDA) Article 3 - - - - 030 Grant Projects (240,611) 841,792 (213,942) 387,239 037 Drug Rehabilitation Program 249,411 - - 249,411 040 Public Educational Government (PEG) 833,996 - - 833,996 050 California COPS 254,935 - - 254,935 070 Measure A Fund (35,000) - - (35,000) 090 Agency Fund/Refundable Deposits-Private Projects 1,504,005 32,968 (17,060) 1,519,913 100 Proposition A - Transportation 2,452,344 172,375 (868,521) 1,756,198 115 Measure M - Streets 2,481,937 121,653 (19,064) 2,584,526 125 Measure R - Streets 2,159,469 107,235 (92,422) 2,174,282 135 Proposition C - Streets 2,334,388 144,020 (80,600) 2,397,808 140 State Gas Tax - Streets 4,193,174 189,056 (110,975) 4,271,255 145 Road Maintenance and Rehabilitation Account (RMRA)3,334,097 144,326 (14,894) 3,463,529 150 Air Quality Management District Fees 311,006 39,946 - 350,952 230 Sewer Reconstruction 316,278 - - 316,278 31X Municipal Water System 2,319,559 - (361,679) 1,957,880 320 Measure W 3,455,448 - (93,042) 3,362,406 510 Economic Development 1,752,129 17,347 (11,313) 1,758,163 530 Equipment Replacement 625,050 - (97,431) 527,619 540 GIS Update 215,572 2,197 - 217,769 542 General Planning and Zoning Update 632,894 6,495 - 629,149 600 Building and Safety 261,196 55,962 (235,193) 81,965 602 CASp Certification and Training 89,152 1,172 - 90,324 700 Debt Service - Public Facilities Corporation - - - - 710 Debt Service - Financing Authority (18,938) 351,905 - 332,967 720 Debt Service - 2021/2018 Transportation COPS - 736,713 - 736,713 730 Debt Service - 2021 Pension Obligation Bonds 488 1 - 489 900 Community Development Block Grant (CDBG)(594,023) 150 (38,585) (632,458) 910 HOME Investment Partnership 3,833 52,216 (23,627) 32,422 920 ARPA SLFRP Fund 9,843,762 - (3,270) 9,840,492 944 Parking District No. 1 (2,057) - - (2,057) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 652,828 96 (96) 652,828 TOTAL CITY OF BELLFLOWER 88,009,005$ 5,069,661$ (4,961,256)$ 88,117,410$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 404,760 564 (2,259) 403,065 972 Successor Agency Administration Fund 11,038 - (18,024) (6,986) TOTAL SUCCESSOR AGENCY 415,798$ 564$ (20,283)$ 396,079$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 88,424,803$ 5,070,225$ (4,981,539)$ 88,513,489$ Date of Electronic Distribution to City Council and City Manager: October 25, 2022
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of October 25, 2022)
TREASURER'S REPORT FOR THE MONTH OF SEPTEMBER 2022
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\ TR 22-09
PARK FACILITIES FEES
Revenues:
18,288.00$ July 18, 2022 Park Fac Fee/15352 Leahy Ave 30,110.54 July 29,2022 Park Fac Fee/9709 Ramona 109,728.00 August 4, 2022 Park Fac Fee/8740 Cedar 18,288.00 August 26, 2022 Park Fac Fee/9237 Walnut 8,046.72 August 29, 2022 Park Fac Fee/9239 Ives 1,097.28 September 8, 2022 Park Fac Fee/9239 Ives 18,288.00 September 19, 2022 Park Fac Fee/9534 Darnell 15,837.62 September 28, 2022 Park Fac Fee/17634 Coke 219,684.16$
Project Expenditures:
5,707.23$ August 22, 2022 Constitution Park Improvements 3,073.12 August 22, 2022 Thompson Park Improvements 7,278.77 September 29, 2022 Constitution Park Improvements 3,919.33 September 29, 2022 Thompson Park Improvements 19,978.45$
PUBLIC FACILITIES FEES
Revenues:
1,951.06$ July 29, 2022 Public Fac Fee/9709 Ramona 7,110.00 August 4, 2022 Public Fac Fee/8740 Cedar 1,185.00 August 26, 2022 Public Fac Fee/9237 Walnut 521.40 August 29, 2022 Public Fac Fee/9239 Ives
77.60 September 8, 2022 Public Fac Fee/9239 Ives 1,185.00 September 19, 2022 Public Fac Fee/9534 Darnell 1,026.23 September 28, 2022 Public Fac Fee/17634 Coke 13,056.29$
Project Expenditures:
-$
-$
PUBLIC ARTS FEES
Revenues:
-$
-$
Project Expenditures:
-$
-$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2022 - September 30, 2022)
S:\AA\Treasurer's Reports\
TR 22-09
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 10,058.40 April 8, 2022 Park Fac Fee/16830 Grand 4,269.30 April 12, 2022 Park Fac Fee/16240 Grand 495,633.80$
Project Expenditures:
6,993.97$ Constitution Park Improvements
3,840.98 Thompson Park Improvements
10,834.95$
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 169,445.50 March 23, 2022 Public Arts Fee/8827-8829 Artesia 196,445.50$
Project Expenditures:
168.03$ May 31, 2022
Veterans Memorial Enhancements Project - Bronze
Plaque
6,700.00 June 14, 2022 Gateway Sign Water Service Installation 6,868.03$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2021 - June 30, 2022)
S:\AA\Treasurer's Reports\
TR 22-09
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 :
State of California
Local Agency Investment Fund (1)27,932,646$ -$ (4,000,000)$ 23,932,646$ N/A 23,472,205$ 1.513%See attached Pooled Money Investment Account Portfolio.
Detail report available at:
https://www.treasurer.ca.gov/pmia-laif/pmia/index.asp
Los Angeles County Pooled Investment Fund (5)11,777,939 18,414 (6,000,000) 5,796,353 N/A 5,479,112 1.670%See attached Los Angeles County Pooled Surplus Investments.
Detail report available at:
https://ttc.lacounty.gov/monthly-reports/
CalTrust / Local Agency Investment Pool (4)
-Liquidity Fund 50,462 102 - 50,564 N/A 50,564 2.450%Local Agency Investment Pool
Investment Trust of
California, dba CalTRUST
Cash / Investments Held By Bond Trustee -
Bank of New York Mellon Trust Company
-Dreyfus Treasury Securities Cash Management -
Institutional / (2008/2018) 2021 COPs
- 1,082,838 - 1,082,838 N/A 1,082,838 2.520%Money Market Fund Dreyfus N/A -Dreyfus Treasury Securities Cash Management -
Institutional / 2021 Pension Obligation Bonds
488 1 - 489 N/A 489 2.520%Money Market Fund Dreyfus N/A
Cash / Investments Held By Custodian -
Bank of New York Mellon Trust Company
-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,964,330 3.500%U.S. Agency Bonds Federal Home Loan Bank 10/26/2023 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,960,430 3.500%U.S. Agency Bonds Federal Home Loan Bank 12/29/2023 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,961,840 3.750%U.S. Agency Bonds Federal Home Loan Bank 2/8/2024 -Federal Home Loan Bank - 3,000,000 - 3,000,000 3,000,000 2,996,340 4.000%U.S. Agency Bonds Federal Home Loan Bank 3/19/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,955,990 3.250%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 5/17/2024
-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,920,260 3.000%U.S. Agency Bonds Federal Home Loan Bank 6/28/2024 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,963,880 3.200%Step-Up U.S. Agency Bonds Federal Home Loan Bank 7/26/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,982,930 4.100%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 8/12/2024
-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,947,110 3.000%Step-Up U.S. Agency Bonds Federal Home Loan Bank 8/23/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,967,300 3.820%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 8/28/2024
-Federal Home Loan Mortgage Corporation - 3,000,000 - 3,000,000 3,000,000 2,979,660 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 9/13/2024
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,968,800 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 10/18/2024
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,971,320 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 11/25/2024
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,983,440 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 2/26/2025
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,974,290 3.500%Step-Up U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 8/25/2025
-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,947,500 3.500%Step-Up U.S. Agency Bonds Federal Home Loan Bank 1/28/2026 -Federal Home Loan Bank - 5,000,000 - 5,000,000 5,000,000 5,005,600 4.000%Step-Up U.S. Agency Bonds Federal Home Loan Bank 9/30/2027 -Dreyfus Treasury Securities Cash Management -
Institutional 2,511 131 - 2,642 N/A 2,642 2.520%Money Market Fund Dreyfus N/A
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF SEPTEMBER 2022
Dollar Amount Invested
(As of October 25, 2022)
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-09
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 SEPTEMBER 2022
Dollar Amount Invested
(As of October 25, 2022)
Charles Schwab Trust Bank
-Section 115 Pension Stabilization Trust
Investments / Mutual Funds 351,430 53,672 (37,593) 367,509 N/A 336,241 N/A Various Investments /
Mutual Funds
Various; Held by Charles
Schwab Trust N/A
Trust Cash 148,801 34,504 (53,707) 129,598 N/A 129,598 0.250%Trust Cash Account Charles Schwab Trust
Bank N/A
TOTAL INVESTMENTS 82,264,277 12,189,661 (10,091,300) 84,362,638 83,004,709 BANK DEPOSITS (2):
-General Operating Account (3)5,735,819 13,864,571 (15,869,934) 3,730,456 N/A 3,730,456 N/A Checking Account Bank of the West N/A -Payroll Account (3)(3,946) 1,456,336 (1,458,930) (6,540) N/A (6,540) N/A Checking Account Bank of the West N/A -Revolving Account (3)30 180,484 (180,514) - N/A - N/A Checking Account Bank of the West N/A -Sec. 125 Flex Spending Account (3)19,662 - (2,112) 17,550 N/A 17,550 N/A Checking Account Bank of the West N/A -Pooled Cash Allocated to SA (11,037) 20,283 - 9,246 N/A 9,246 N/A TOTAL BANK DEPOSITS 5,740,528 15,521,674 (17,511,490) 3,750,712 3,750,712 PETTY CASH 4,200 - (140) 4,060 N/A 4,060 N/A CITY -
TOTAL DEPOSITS AND INVESTMENTS 88,009,005$ 27,711,335$ (27,602,930)$ 88,117,410$ 86,759,481$ SUCCESSOR AGENCY:
BOW Business Checking Account (2) (3)26,019$ -$ -$ 26,019$ N/A 26,019$ N/A Checking Account Bank of the West N/A Cash / Investments Held By Bond Trustee -
Bank of New York Mellon Trust Company
-Taxable Tax Allocation Refunding Bonds, Series 2016
Dreyfus Treasury Securities Cash Management -
Institutional
378,742 564 - 379,306 N/A 379,306 2.520%Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 404,761 564 - 405,325 405,325 Pooled Cash Account 11,037 - (20,283) (9,246) N/A (9,246) N/A
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 415,798$ 564$ (20,283)$ 396,079$ 396,079$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 88,424,803$ 27,711,899$ (27,623,213)$ 88,513,489$ 87,155,560$ NOTES:
(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 intervening months' market values are estimates. (2)All bank deposits are insured up to $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. The current interest rate and market value are estimates based on the preceding month's data.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.Interest rates and market values are provided on the monthly trustee, custody and investment statements and websites.
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-09
ACTUAL BUDGET
Fiscal Year Reporting FY 2022-23 Fiscal Year
2021-22 Month To Date 2022-23
Beginning Cash Balance 220,332$ 254,935$ 259,470$ 259,470$ Receipts:
SLESF Funding 191,381 - - 175,000 Interest 987 - - 1,000 Total Receipts 192,368 - - 176,000 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (109,000) (78,165) (78,165) (110,000) Equipment Leases / Purchases (40,826) (1,966) (1,966) (49,000) Total Expenditures/Allocations (149,826) (80,131) (80,131) (159,000) Receivables and Payables:
Add: Beginning receivables 156 - 531 - Deduct: Ending receivables (531) - - - Deduct: Beginning accounts payable (8,095) - (5,066) - Add: Ending accounts payable 5,066 80,131 80,131 - Net Adjustment (3,404) 80,131 75,596 - Ending Cash Balance 259,470$ 254,935$ 254,935$ 276,470$ ACTUAL
(As of October 25, 2022)
TREASURER'S REPORT FOR THE MONTH OF SEPTEMBER 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 22-09
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 22-09
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