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 November 2022.
DATE: January 12, 2023
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 informat ion 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 November 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 November 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 27,498,962$ 5,069,904$ (737,689)$ 31,831,177$ 011 General Fund Capital Projects 12,099,243 - (10,449) 12,088,794 012 Public Projects (140,931) 9,104,267 (36,000) 8,927,336 999 Cash Clearing Unallocated Interest 53,327 121,526 - 174,853 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,548,789 - (16,796) 1,531,993 022 Public Facilities 177,431 - - 177,431 020 Public Arts 308,373 - - 308,373 Other Funds
013 DOT Highway Relinquishment 4,511,946 - - 4,511,946 015 Transportation Development Act (TDA) Article 3 - - (53,200) (53,200) 030 Grant Projects 882,656 86,055 (14,782) 953,929 037 Drug Rehabilitation Program 248,411 - - 248,411 040 Public Educational Government (PEG) 833,996 2,658 (11,008) 825,646 050 California COPS 236,264 36,466 - 272,730 070 Measure A Fund (50,000) - - (50,000) 090 Agency Fund/Refundable Deposits-Private Projects 1,514,656 30,675 (43,637) 1,501,694 100 Proposition A - Transportation 2,002,784 173,411 (69,460) 2,106,735 115 Measure M - Streets 2,712,932 - (8,419) 2,704,513 125 Measure R - Streets 2,220,901 - (218,896) 2,002,005 135 Proposition C - Streets 2,383,017 144,257 (52,124) 2,475,150 140 State Gas Tax - Streets 4,354,125 168,193 (120,378) 4,401,940 145 Road Maintenance and Rehabilitation Account (RMRA) 3,626,975 151,710 (8,013) 3,770,672 150 Air Quality Management District Fees 352,542 - - 352,542 230 Sewer Reconstruction 316,278 - - 316,278 31X Municipal Water System 1,941,094 17,092,797 (16,158,395) 2,875,496 320 Measure W 3,377,587 - (41,074) 3,336,513 510 Economic Development 1,735,099 - (75,925) 1,659,174 530 Equipment Replacement 518,264 - (12,063) 506,201 540 GIS Update 222,904 3,646 - 226,550 542 General Planning and Zoning Update 643,663 9,244 - 652,896 600 Building and Safety 158,567 85,701 (58,349) 185,919 602 CASp Certification and Training 90,744 1,508 - 92,252 700 Debt Service - Public Facilities Corporation - - - - 710 Debt Service - Financing Authority (4,115) 5,488,685 (5,482,931) 1,639 720 Debt Service - 2021/2018 Transportation COPS 250 102 - 352 730 Debt Service - 2021 Pension Obligation Bonds 759,502 1 (759,012) 491 900 Community Development Block Grant (CDBG) (654,884) 14,356 (96,561) (737,089) 910 HOME Investment Partnership 26,113 - (9,527) 16,586 920 ARPA SLFRP Fund 9,843,762 - - 9,843,762 944 Parking District No. 1 (5,610) 1,668 (1,682) (5,624) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 627,406 96 (24,765) 602,737 TOTAL CITY OF BELLFLOWER 86,973,023$ 37,786,926$ (24,121,146)$ 100,638,803$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 406,033 890 (15,505) 391,418 972 Successor Agency Administration Fund 6,866 - (2,487) 4,379 TOTAL SUCCESSOR AGENCY 412,899$ 890$ (17,992)$ 395,797$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 87,385,922$ 37,787,816$ (24,139,138)$ 101,034,600$ Date of distribution to City Council and City Manager: December 27, 2022
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of December 27, 2022)
TREASURER'S REPORT FOR THE MONTH OF NOVEMBER 2022
TAE G. RHEE, FINANCE DIRECTOR/TREASURER S:\AA\Treasurer's Reports\TR 22-11.xlsx -2-
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 6,837.05 November 30, 2022 Constitution Park Improvements 1,958.45 November 30, 2022 Thompson Park Improvements 45,570.00$
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 - November 30, 2022)
S:\AA\Treasurer's Reports\TR 22-11.xlsx -3-
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)
S:\AA\Treasurer's Reports\TR 22-11.xlsx -4-
Beginning Disbursements/ EndingYield Type of Issuer ofBalance/ Bond Prem. Balance/ Par Market Interest (If Diff.)/ Investment/ Investment/ Date of(Deficit) Deposits Amort./Discount (Deficit) Value Value Rate Steps Deposit Deposit MaturityCITY OF BELLFLOWER :State of CaliforniaLocal Agency Investment Fund (1)15,559,197$ 8,000,000$ (3,000,000)$ 20,559,197$ N/A20,163,658$ 2.007%See attached Pooled Money Investment Account Portfolio.Detail report available at: https://www.treasurer.ca.gov/pmia-laif/pmia/index.aspLos Angeles County Pooled Investment Fund (5)3,318,860 22,306 - 3,341,166 N/A 3,101,607 2.300%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 Fund50,691 153 - 50,844 N/A 50,844 3.660% Local Agency Investment PoolInvestment 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 COPs367 5,483,081 (5,482,930) 517 N/A 517 3.670% Money Market Fund Dreyfus N/A- Dreyfus Treasury Securities Cash Management - Institutional / 2021 Pension Obligation Bonds490 1 - 491 N/A 491 3.670% Money Market Fund Dreyfus N/ACash / Investments Held By Trustee - Bank of New York Mellon Trust Company- Dreyfus Treasury Securities Cash Management - Institutional / Water Infrastructure Trust Fund- 5,000,000 - 5,000,000 N/A 5,000,000 3.670% 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 2,996,370 4.300%U.S. Agency BondsFederal Home Loan Bank7/27/2023-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,956,530 3.500%U.S. Agency Bonds Federal Home Loan Bank10/26/2023-Federal Home Loan Bank - 3,000,000 - 3,000,000 3,000,000 3,000,000 5.000%U.S. Agency Bonds Federal Home Loan Bank11/28/2023-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,951,250 3.500%U.S. Agency Bonds Federal Home Loan Bank12/29/2023-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,952,210 3.750%U.S. Agency Bonds Federal Home Loan Bank2/8/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,961,000 4.000%U.S. Agency Bonds Federal Home Loan Bank3/19/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,980,230 4.750%U.S. Agency Bonds Federal Home Loan Bank4/26/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,946,390 3.250%U.S. Agency BondsFederal Home Loan Mortgage Corporation5/17/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,913,690 3.000%U.S. Agency Bonds Federal Home Loan Bank6/28/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,958,630 3.400% Step-UpU.S. Agency Bonds Federal Home Loan Bank7/26/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,956,080 4.100%U.S. Agency BondsFederal Home Loan Mortgage Corporation8/12/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,942,400 3.250% Step-UpU.S. Agency Bonds Federal Home Loan Bank8/23/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,957,130 3.820%U.S. Agency BondsFederal Home Loan Mortgage Corporation8/28/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,963,520 4.000%U.S. Agency BondsFederal Home Loan Mortgage Corporation9/13/2024-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,976,330 4.800%U.S. Agency Bonds Federal Home Loan Bank10/18/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,959,920 4.000%U.S. Agency BondsFederal Home Loan Mortgage Corporation10/18/2024-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,956,980 4.000%U.S. Agency BondsFederal Home Loan Mortgage Corporation11/25/2024CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCYCASH AND INVESTMENTS BY TYPETREASURER'S REPORT FOR THE MONTH OF NOVEMBER 2022Dollar Amount Invested (As of December 27, 2022)TAE G. RHEE, FINANCE DIRECTOR/TREASURERS:\AA\Treasurer's Reports\TR 22-11.xlsx-5-
Beginning Disbursements/ EndingYield Type of Issuer ofBalance/ Bond Prem. Balance/ Par Market Interest (If Diff.)/ Investment/ Investment/ Date of(Deficit) Deposits Amort./Discount (Deficit) Value Value Rate Steps Deposit Deposit MaturityCITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCYCASH AND INVESTMENTS BY TYPETREASURER'S REPORT FOR THE MONTH OF NOVEMBER 2022Dollar Amount Invested (As of December 27, 2022)-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,975,940 4.000%U.S. Agency BondsFederal Home Loan Mortgage Corporation2/26/2025-Federal Home Loan Mortgage Corporation3,000,000 - - 3,000,000 3,000,000 2,970,390 3.500% Step-UpU.S. Agency BondsFederal Home Loan Mortgage Corporation8/25/2025-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,947,230 3.500% Step-UpU.S. Agency Bonds Federal Home Loan Bank1/28/2026-Federal Home Loan Bank 5,000,000 - - 5,000,000 5,000,000 4,990,950 4.000% Step-UpU.S. Agency Bonds Federal Home Loan Bank9/30/2027-Dreyfus Treasury Securities Cash Management - Institutional 56,972 99,066 - 156,038 N/A 156,038 3.670%Money Market Fund DreyfusN/A Charles Schwab Trust Bank-Section 115 Pension Stabilization TrustInvestments / Mutual Funds368,947 13,493 - 382,441 N/A 395,765 N/A Various Investments / Mutual Funds Various; Held by Charles Schwab TrustN/ATrust Cash128,985 217 (13,557) 115,645 N/A 115,645 0.250%Trust Cash AccountCharles Schwab Trust BankN/A TOTAL INVESTMENTS81,484,509 21,618,318 (8,496,487) 94,606,340 93,197,735 BANK DEPOSITS (2):-General Operating Account (3)5,486,225 24,045,848 (23,502,744) 6,029,329 N/A 6,029,329 N/A Checking AccountBank of the WestN/A-Payroll Account (3)(11,178) 1,221,120 (1,216,855) (6,913) N/A (6,913) N/A Checking AccountBank of the WestN/A-Revolving Account (3)- 171,643 (171,643) - N/A - N/A Checking AccountBank of the WestN/A-Sec. 125 Flex Spending Account (3)16,272 - (5,907) 10,365 N/A 10,365 N/A Checking AccountBank of the WestN/A- Pooled Cash Allocated to SA(6,865) 2,487 - (4,378) N/A(4,378) N/A TOTAL BANK DEPOSITS5,484,454 25,441,098 (24,897,149) 6,028,403 6,028,403 PETTY CASH4,060 - - 4,060 N/A4,060 N/ACITY - TOTAL DEPOSITS AND INVESTMENTS86,973,023$ 47,059,416$ (33,393,636)$ 100,638,803$ 99,230,198$ SUCCESSOR AGENCY:BOW Business Checking Account (2) (3)26,019$ -$ (15,505)$ 10,514$ N/A10,514$ N/A Checking Account Bank of the West N/ACash / Investments Held By Bond Trustee - Bank of New York Mellon Trust Company-Taxable Tax Allocation Refunding Bonds, Series 2016Dreyfus Treasury Securities Cash Management - Institutional 380,015 890 - 380,905 N/A 380,905 3.670% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS406,034 890 (15,505) 391,419 391,419 Pooled Cash Account6,865 - (2,487) 4,378 N/A4,378 N/ASUCCESSOR AGENCY -TOTAL DEPOSITS AND INVESTMENTS412,899$ 890$ (17,992)$ 395,797$ 395,797$ CITY & SUCCESSOR AGENCY -TOTAL DEPOSITS AND INVESTMENTS87,385,922$ 47,060,306$ (33,411,628)$ 101,034,600$ 99,625,995$ TAE G. RHEE, FINANCE DIRECTOR/TREASURERS:\AA\Treasurer's Reports\TR 22-11.xlsx-6-
Beginning Disbursements/ EndingYield Type of Issuer ofBalance/ Bond Prem. Balance/ Par Market Interest (If Diff.)/ Investment/ Investment/ Date of(Deficit) Deposits Amort./Discount (Deficit) Value Value Rate Steps Deposit Deposit MaturityCITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCYCASH AND INVESTMENTS BY TYPETREASURER'S REPORT FOR THE MONTH OF NOVEMBER 2022Dollar Amount Invested (As of December 27, 2022)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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values.(3)Analysis account.(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes.(5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. The current interest rate and market value are estimates based on the preceding month's data.A.The City's investment portfolio complies with the Statement of Investment Policy.B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.C.Interest rates and market values are provided on the monthly trustee, custody and investment statements and websites.TAE G. RHEE, FINANCE DIRECTOR/TREASURERS:\AA\Treasurer's Reports\TR 22-11.xlsx-7-
ACTUAL BUDGET
Fiscal Year Reporting FY 2022-23 Fiscal Year
2021-22 Month To Date 2022-23
Beginning Cash Balance 220,332$ 236,264$ 259,470$ 259,470$ Receipts:
SLESF Funding 191,381 36,466 129,460 175,000 Interest 987 - 1,284 1,000 Total Receipts 192,368 36,466 130,744 176,000 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (109,000) - (110,000) (110,000) Equipment Leases / Purchases (40,826) - (2,949) (49,000) Total Expenditures/Allocations (149,826) - (112,949) (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 - - - Net Adjustment (3,404) - (4,535) - Ending Cash Balance 259,470$ 272,730$ 272,730$ 276,470$ ACTUAL
(As of December 27, 2022)
TREASURER'S REPORT FOR THE MONTH OF NOVEMBER 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 22-11.xlsx -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 S:\AA\Treasurer's Reports\TR 22-11.xlsx -9-
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 37,457,876,803.91$ 37,598,454,000.00$ NA
Notes 97,679,630,784.10$ 94,303,013,500.00$ 242,799,651.50$ Federal Agency:
SBA 345,398,313.39$ 345,168,567.85$ 621,486.90$
MBS-REMICs 3,542,218.21$ 3,502,313.80$ 15,820.59$
Debentures 8,968,279,046.91$ 8,737,319,750.00$ 28,391,792.45$ Debentures FR -$ -$ -$
Debentures CL 2,900,000,000.00$ 2,832,621,500.00$ 20,919,730.00$ Discount Notes 25,084,355,444.45$ 25,194,425,500.00$ NA Supranational Debentures 2,328,153,758.99$ 2,233,975,900.00$ 7,688,694.90$ Supranational Debentures FR -$ -$ -$
CDs and YCDs FR -$ -$ -$
Bank Notes 100,000,000.00$ 99,852,253.25$ 1,283,333.33$ CDs and YCDs 13,400,000,000.00$ 13,370,538,436.70$ 111,708,152.80$ Commercial Paper 9,241,303,055.56$ 9,298,797,388.89$ NA Corporate:
Bonds FR -$ -$ -$
Bonds 531,092,050.06$ 504,369,950.00$ 4,048,798.73$ Repurchase Agreements -$ -$ -$
Reverse Repurchase -$ -$ -$
Time Deposits 5,264,000,000.00$ 5,264,000,000.00$ NA PMIA & GF Loans 372,231,000.00$ 372,231,000.00$ NA
TOTAL 203,675,862,475.58$ 200,158,270,060.49$ 417,477,461.20$ Fair Value Including Accrued Interest 200,575,747,521.69$ 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
11/30/2022
-10-
TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 37,457,877 18.39 -1.11
Bonds 0 0.00 0
Notes 97,679,631 47.96 +0.89
Strips 0 0.00 0
Total Government 135,137,508 66.35 -0.22
Agency Debentures 14,541,831 7.14 +0.78
Certificates of Deposit 13,400,000 6.58 +0.12
Bank Notes 100,000 0.05 0
Repurchases 0 0.00 0
Agency Discount Notes 25,084,355 12.32 -0.51
Time Deposits 5,264,000 2.58 +0.28
GNMAs 0 0.00 0
Commercial Paper 9,241,303 4.54 -0.48
Remics 3,542 0.00 0
Corporate Bonds 531,092 0.26 +0.02
PMIA Loans 372,231 0.18 +0.01
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 203,675,862 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY November 2022 October 2022
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 668 33,220,009 1,004 49,711,370
Other 29 2,265,904 5 999,035
Time Deposits 59 1,909,000 79 2,527,000
Total 756 37,394,913 1,088 53,237,405
PMIA Monthly Average Effective Yield (%) 2.007 1.772
Year to Date Yield Last Day of Month (%) 1.516 1.406
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
November 30, 2022
-11-
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 October 31, 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:
The Treasury Pool participation composition is as follows:
Non-discretionary Participants 91.28%
Discretionary Participants:
Independent Public Agencies 8.40%
County Bond Proceeds and Repayment Funds 0.32%
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 Local Agency
Invested Funds
(in billions)
County of Los Angeles and Special Districts $18.265 Schools and Community Colleges 21.232
Discretionary Participants 3.771
Total $43.268
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the Investment Report dated November 30, 2022, the October 31, 2022 book value of the Treasury Pool was approximately $43.268 billion, and the corresponding market value was approximately $40.166 billion.
An internal controls system for monitoring cash accounting and investment practices is in place. The Treasurer's Compliance Auditor, who operates independently from the Investment Officer, reconciles cash and investments to fund balances daily. The Compliance Auditor’s staff also reviews each investment trade for accuracy and compliance with the Board adopted Investment Policy. On a quarterly basis, the County’s outside independent auditor (External Auditor) reviews the cash and investment reconciliations for completeness and accuracy. Additionally, the External Auditor reviews investment transactions on a quarterly basis for conformance with the approved Investment Policy and annually accounts for all investments.
The following table identifies the types of securities held by the Treasury Pool as of October 31, 2022:
Type of Investment % of Pool
Certificates of Deposit 4.39
U.S. Government and Agency Obligations 72.49
Bank Acceptances 0.00
Commercial Paper 23.02
Municipal Obligations 0.07
Corporate Notes & Deposit Notes 0.03
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of October 31, 2022, approximately 31.42% of the investments mature within 60 days, with an average of 969 days to maturity for the entire portfolio.
TreasPool Update
10/31/2022
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Investment Balance 10/31/22 43,268,255,261$
Market Value at 10/31/22 40,165,954,904$
Average Daily Balance 41,437,255,039$
Gains and Losses:
For the Month -$
For the Past 12 Months 6,004$
Unrealized Gains and Losses on Transfers
between Portfolio for the Month -$
Earnings for the Month 81,334,226$
Earnings for the Past 12 Months 467,042,560$
Earnings Rate for the Month 2.30%
POOLED SURPLUS EARNINGS REPORT
OCTOBER 31, 2022
SCHEDULE B
TREASURER POOLED SURPLUS
INVESTMENT PORTFOLIO
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