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 October 2022.
DATE: November 28, 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 October 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 October 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 31,258,818$ 3,309,712$ (7,069,568)$ 27,498,962 011 General Fund Capital Projects 12,049,040 60,974 (10,771) 12,099,243 012 Public Projects (1,842,331) 1,701,400 - (140,931) 999 Cash Clearing Unallocated Interest 36,394 60,031 (43,098) 53,327 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,525,712 25,477 (2,400) 1,548,789 022 Public Facilities 175,401 2,030 - 177,431 020 Public Arts 311,012 1,557 (4,196) 308,373 Other Funds
013 DOT Highway Relinquishment 4,491,371 21,788 (1,213) 4,511,946 015 Transportation Development Act (TDA) Article 3 - - - - 030 Grant Projects 387,239 500,000 (4,583) 882,656 037 Drug Rehabilitation Program 249,411 - (1,000) 248,411 040 Public Educational Government (PEG) 833,996 - - 833,996 050 California COPS 254,935 94,278 (112,949) 236,264 070 Measure A Fund (35,000) - (15,000) (50,000) 090 Agency Fund/Refundable Deposits-Private Projects 1,519,913 53,257 (58,514) 1,514,656 100 Proposition A - Transportation 1,756,198 265,923 (19,337) 2,002,784 115 Measure M - Streets 2,584,526 136,482 (8,076) 2,712,932 125 Measure R - Streets 2,174,282 121,003 (74,384) 2,220,901 135 Proposition C - Streets 2,397,808 158,551 (173,342) 2,383,017 140 State Gas Tax - Streets 4,271,255 194,324 (111,454) 4,354,125 145 Road Maintenance and Rehabilitation Account (RMRA) 3,463,529 164,371 (925) 3,626,975 150 Air Quality Management District Fees 350,952 1,590 - 352,542 230 Sewer Reconstruction 316,278 - - 316,278 31X Municipal Water System 1,957,880 - (16,786) 1,941,094 320 Measure W 3,362,406 17,582 (2,401) 3,377,587 510 Economic Development 1,758,163 - (23,064) 1,735,099 530 Equipment Replacement 527,619 3,082 (12,437) 518,264 540 GIS Update 217,769 5,135 - 222,904 542 General Planning and Zoning Update 629,149 14,973 - 643,663 600 Building and Safety 81,965 139,339 (62,737) 158,567 602 CASp Certification and Training 90,324 605 (185) 90,744 700 Debt Service - Public Facilities Corporation - 57,625 (57,625) - 710 Debt Service - Financing Authority 332,967 9,043 (346,125) (4,115) 720 Debt Service - 2021/2018 Transportation COPS 736,713 250 (736,713) 250 730 Debt Service - 2021 Pension Obligation Bonds 489 759,013 - 759,502 900 Community Development Block Grant (CDBG) (632,458) 1,050 (23,476) (654,884) 910 HOME Investment Partnership 32,422 132 (6,441) 26,113 920 ARPA SLFRP Fund 9,840,492 3,270 - 9,843,762 944 Parking District No. 1 (2,057) - (3,553) (5,610) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 652,828 3,221 (28,643) 627,406 TOTAL CITY OF BELLFLOWER 88,117,410$ 7,887,068$ (9,031,455)$ 86,973,023$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 403,065 2,968 - 406,033 972 Successor Agency Administration Fund (6,986) 13,852 - 6,866 TOTAL SUCCESSOR AGENCY 396,079$ 16,820$ -$ 412,899$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 88,513,489$ 7,903,888$ (9,031,455)$ 87,385,922$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of November 21, 2022)
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 2022
TAE G. RHEE, FINANCE DIRECTOR/TREASURER
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-10
-1-
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 18,288.00 October 27, 2022 Park Fac Fee/14722 Blaine 237,972.16$
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 10,916.88 November 4, 2022 Constitution Park Improvements 5,879.17 November 4, 2022 Thompson Park Improvements 36,774.50$
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 1,185.00 October 27, 2022 Public Fac Fee/14722 Blaine 14,241.29$
Project Expenditures:
-$
-$
PUBLIC ARTS FEES
Revenues:
-$
-$
Project Expenditures:
-$
-$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2022 - October 31, 2022)
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-10 -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 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 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 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)
http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/ TR 22-10 -3-
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)23,932,646$ 126,551$ (8,500,000)$ 15,559,197$ N/A 15,259,853$ 1.772%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)5,796,353 22,507 (2,500,000) 3,318,860 N/A 3,092,316 1.950%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 50,564 127 - 50,691 N/A 50,691 2.970%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
1,082,838 367 (1,082,838) 367 N/A 367 3.050% Money Market Fund Dreyfus N/A -Dreyfus Treasury Securities Cash Management -
Institutional / 2021 Pension Obligation Bonds
489 1 - 490 N/A 490 3.050% 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 2,998,290 4.300%U.S. Agency Bonds Federal Home Loan Bank 7/27/2023 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,955,870 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 2,950,710 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 2,951,610 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 2,987,850 4.000%U.S. Agency Bonds Federal Home Loan Bank 3/19/2024 -Federal Home Loan Bank - 3,000,000 - 3,000,000 3,000,000 2,995,950 4.750%U.S. Agency Bonds Federal Home Loan Bank 4/26/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,944,320 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 2,907,660 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 2,955,030 3.400%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 2,963,460 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 2,937,780 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 2,955,450 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 2,961,720 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 9/13/2024
-Federal Home Loan Bank - 3,000,000 - 3,000,000 3,000,000 2,995,170 4.800%U.S. Agency Bonds Federal Home Loan Bank 10/18/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,956,350 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 2,958,900 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 2,972,790 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 2,965,320 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 2,937,990 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 4,990,150 4.000%Step-Up U.S. Agency Bonds Federal Home Loan Bank 9/30/2027 -Dreyfus Treasury Securities Cash Management -
Institutional 2,642 54,330 - 56,972 N/A 56,972 3.050%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 OCTOBER 2022
Dollar Amount Invested
(As of November 21, 2022)
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-10 -4-
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 OCTOBER 2022
Dollar Amount Invested
(As of November 21, 2022)
Charles Schwab Trust Bank
-Section 115 Pension Stabilization Trust
Investments / Mutual Funds 367,509 1,439 - 368,947 N/A 359,188 N/A Various Investments /
Mutual Funds
Various; Held by Charles
Schwab Trust N/A
Trust Cash 129,598 842 (1,455) 128,985 N/A 128,985 0.250%Trust Cash Account Charles Schwab Trust
Bank N/A
TOTAL INVESTMENTS 84,362,638 9,206,163 (12,084,293) 81,484,509 80,191,232 BANK DEPOSITS (2):
-General Operating Account (3)3,730,456 15,953,970 (14,198,201) 5,486,225 N/A 5,486,225 N/A Checking Account Bank of the West N/A -Payroll Account (3)(6,540) 1,034,575 (1,039,213) (11,178) N/A (11,178) N/A Checking Account Bank of the West N/A -Revolving Account (3)- 240,452 (240,452) - N/A - N/A Checking Account Bank of the West N/A -Sec. 125 Flex Spending Account (3)17,550 - (1,278) 16,272 N/A 16,272 N/A Checking Account Bank of the West N/A - Pooled Cash Allocated to SA 9,246 - (16,111) (6,865) N/A (6,865) N/A TOTAL BANK DEPOSITS 3,750,712 17,228,997 (15,495,255) 5,484,454 5,484,454 PETTY CASH 4,060 - - 4,060 N/A 4,060 N/A CITY -
TOTAL DEPOSITS AND INVESTMENTS 88,117,410$ 26,435,160$ (27,579,548)$ 86,973,023$ 85,679,746$ 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
379,306 709 - 380,015 N/A 380,015 3.050% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 405,325 709 - 406,034 406,034 Pooled Cash Account (9,246) 16,111 - 6,865 N/A 6,865 N/A
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 396,079$ 16,820$ -$ 412,899$ 412,899$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 88,513,489$ 26,451,980$ (27,579,548)$ 87,385,922$ 86,092,645$ 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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. The current interest rate and market value are estimates based on the preceding month's data.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.Interest rates and market values are provided on the monthly trustee, custody and investment statements and websites.
TAE G. RHEE, FINANCE DIRECTOR/TREASURER http://sharepoint/sites/Finance/Shared Documents/AA/Treasurer's Reports/TR 22-10 -5-
ACTUAL BUDGET
Fiscal Year Reporting FY 2022-23 Fiscal Year
2021-22 Month To Date 2022-23
Beginning Cash Balance 220,332$ 254,935$ 259,470$ 259,470$ Receipts:
SLESF Funding 191,381 92,994 92,994 175,000 Interest 987 1,284 1,284 1,000 Total Receipts 192,368 94,278 94,278 176,000 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (109,000) (31,835) (110,000) (110,000) Equipment Leases / Purchases (40,826) (983) (2,949) (49,000) Total Expenditures/Allocations (149,826) (32,818) (112,949) (159,000) Receivables and Payables:
Add: Beginning receivables 156 - 531 - Deduct: Ending receivables (531) - - - Deduct: Beginning accounts payable (8,095) (80,131) (5,066) - Add: Ending accounts payable 5,066 - - - Net Adjustment (3,404) (80,131) (4,535) - Ending Cash Balance 259,470$ 236,264$ 236,264$ 276,470$ ACTUAL
(As of November 21, 2022)
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 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 22-10 -6-
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 22-10 -7-
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 41,973,670,327.59$ 42,029,824,500.00$ NA
Notes 101,336,838,099.48$ 97,612,493,500.00$ 272,906,659.00$ Federal Agency:
SBA 350,862,850.97$ 351,144,378.20$ 630,490.07$
MBS-REMICs 3,715,157.23$ 3,669,435.05$ 16,655.51$
Debentures 8,568,492,588.57$ 8,313,681,450.00$ 24,225,208.75$ Debentures FR -$ -$ -$
Debentures CL 2,550,000,000.00$ 2,465,259,000.00$ 15,440,227.50$ Discount Notes 27,614,627,937.56$ 27,666,879,500.00$ NA Supranational Debentures 2,229,190,558.99$ 2,128,898,500.00$ 6,096,612.10$ Supranational Debentures FR -$ -$ -$
CDs and YCDs FR -$ -$ -$
Bank Notes 100,000,000.00$ 99,788,196.26$ 1,033,333.33$ CDs and YCDs 13,900,000,000.00$ 13,863,433,133.84$ 87,098,625.01$ Commercial Paper 10,795,126,388.86$ 10,840,224,777.83$ NA Corporate:
Bonds FR -$ -$ -$
Bonds 521,177,466.73$ 489,615,990.00$ 3,089,902.88$ Repurchase Agreements -$ -$ -$
Reverse Repurchase -$ -$ -$
Time Deposits 4,959,000,000.00$ 4,959,000,000.00$ NA PMIA & GF Loans 367,981,000.00$ 367,981,000.00$ NA
TOTAL 215,270,682,375.98$ 211,191,893,361.18$ 410,537,714.15$ Fair Value Including Accrued Interest 211,602,431,075.33$ Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost).
State of California
Pooled Money Investment Account
Market Valuation
10/31/2022
-8-
TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 41,973,670 19.50 -1.35
Bonds 0 0.00 0
Notes 101,336,838 47.07 +1.32
Strips 0 0.00 0
Total Government 143,310,508 66.57 -0.03
Agency Debentures 13,698,547 6.36 +0.16
Certificates of Deposit 13,900,000 6.46 +0.06
Bank Notes 100,000 0.05 +0.01
Repurchases 0 0.00 0
Agency Discount Notes 27,614,628 12.83 -0.76
Time Deposits 4,959,000 2.30 +0.10
GNMAs 0 0.00 0
Commercial Paper 10,795,126 5.02 +0.43
Remics 3,715 0.00 0
Corporate Bonds 521,177 0.24 +0.02
PMIA Loans 367,981 0.17 0
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 215,270,682 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY October 2022 September 2022
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 1,004 49,711,370 923 45,857,714
Other 5 999,035 6 1,491,070
Time Deposits 79 2,527,000 87 2,877,000
Total 1,088 53,237,405 1,016 50,225,784
PMIA Monthly Average Effective Yield (%) 1.772 1.513
Year to Date Yield Last Day of Month (%) 1.406 1.289
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
October 31, 2022
-9-
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 September 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 $17.782 Schools and Community Colleges 20.286
Discretionary Participants 3.990
Total $42.058
The Treasury Pool participation composition is as follows:
Non-discretionary Participants 90.52%
Discretionary Participants:
Independent Public Agencies 9.10%
County Bond Proceeds and Repayment Funds 0.38%
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 -10-
the Investment Report dated October 31, 2022, the September 30, 2022 book value of the Treasury Pool was approximately $42.058 billion, and the corresponding market value was approximately $39.187 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 September 30, 2022:
Type of Investment % of Pool
Certificates of Deposit 4.87
U.S. Government and Agency Obligations 71.44
Bank Acceptances 0.00
Commercial Paper 23.59
Municipal Obligations 0.07
Corporate Notes & Deposit Notes 0.03
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of September 30, 2022, approximately 35.21% of the investments mature within 60 days, with an average of 1,008 days to maturity for the entire portfolio.
TreasPool Update
09/30/2022
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