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CRCWING TOGET;
E e p o r t
1 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 July 2023.
DATE:August 28, 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 information required pursuant to BMC Subsection 2.12.030.6.5, 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, Public Facilities, Transportation Facilities, and Public Safety Facilities) and Public Arts Fees for fiscal years 2022-23 and 2023-24 (for the month of July 2023).
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 July 2023 2
http://sharepoint/sites/finance/Shared Documents/AA/Treasurer's Reports/Staff Report for TR.docx 1 -
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY r
TREASURER'S REPORT FOR THE MONTH OF JULY 2023
CASH AND INVESTMENT BALANCES BY FUND
As of August 24,2023)
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 45,041,526 $ 4,834,286 $ (5,438,427) $ 44,437,385 011 General Fund Capital Projects 16,757,881 139,806 200,264) 16,697,423 012 Public Projects 11,094,933 117,427 6,080) 11,206,280 999 Cash Clearing Unallocated Interest 566,571 400,880) 165,691 RESTRICTED:
Development Impact/Other Fees(revenue/expenditure details attached) 024 Park Facilities 1,583,676 33,102 1,556) 1,615,222 022 Public Facilities 6,428 7,235 13,663
026 Public Safety Facilities 28 28
028 Transportation Facilities 442 442
020 Public Arts 330,869 3,081 333,950
Other Funds
013 DOT Highway Relinquishment 3,455,467 38,955 116,262) 3,378,160 015 Transportation Development Act(TDA)Article 3
030 Grant Projects 1,951,772 1,984 880,257) 1,073,499 037 Drug Rehabilitation Program 301,178 301,178
040 Public Educational Government(PEG) 876,516 876,516 050 California COPS 338,053 6,372 4,183) 340,242
070 Measure A Fund 354,375) 64,646)419,021)
090 Agency Fund/Refundable Deposits-Private Projects 1,555,397 26,693 9,598) 1,572,492 100 Proposition A-Transportation 2,564,325 227,821 159,994) 2,632,152 115 Measure M-Streets 3,631,322 206,151 34,601) 3,802,872 125 Measure R-Streets 2,544,925 150,245 33,003) 2,662,167 135 Proposition C-Streets 2,724,710 196,347 413,133) 2,507,924 140 State Gas Tax-Streets 4,870,705 217,590 116,003) 4,972,292 145 Road Maintenance and Rehabilitation Account(RMRA) 4,798,986 243,990 43,001) 4,999,975 150 Air Quality Management District Fees 296,585 5,296 2,648) 299,233 230 Sewer Reconstruction 316,278 316,278
320 Measure W 3,874,238 36,822 165,723) 3,745,337 510 Economic Development 2,951,485 1,179,003 (1,195,286) 2,935,202 530 Equipment Replacement 761,418 850,067 16,669) 1,594,816 540 GIS Update 244,650 2,676 247,326
542 General Planning and Zoning Update 969,980 8,412 978,392 600 Building and Safety 452,978 71,364 95,210) 429,132
602 CASp Certification and Training 102,508 1,509 752) 103,265 700 Debt Service-Public Facilities Corporation 57,625 57,625) 710 Debt Service-Financing Authority 3,531 9,396 35,341) 22,414) 720 Debt Service-2021/2018 Transportation COPS 58 58
730 Debt Service-2021 Pension Obligation Bonds 921 777,960 778,881 900 Community Development Block Grant(CDBG)94,415) 19,528 562,379)637,266) 910 HOME Investment Partnership 80,680) 11,435) 92,115) 920 ARPA SLFRP Fund 5,000,000 5,000,000
944 Parking District No. 1 10 9,777) 9,767)
Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 441,486 224,563 11,552) 654,497 TOTAL CITY OF BELLFLOWER 119,881,886 $ 9,695,786 $ (10,086,285) $ 119,491,387 SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust 157,612 $ (157,612) $ 970 Redevelopment Obligation Retirement Fund 1,793,558 25 (1,274,144) 519,439 972 Successor Agency Administration Fund 15,000 1,947) 13,053 TOTAL SUCCESSOR AGENCY 1,793,558 $ 172,637 $ (1,433,703) $ 532,492 COMBINED TOTAL-CITY&SUCCESSOR AGENCY 121,675,444 $ 9,868,423 $ (11,519,988) $ 120,023,879 TAE G.RHEE,FINANCE DIRECTOR/TREASURER S:\AA\Treasurees Reports\TR 23-07-TR.xlsx - 2
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
July 1, 2023 - July 31, 2023)
PARK FACILITIES FEES
Revenues:
18,288.00 July 3, 2023 Park Fac Fee/9876 Crestbrook
18,288.00
Project Expenditures:
PUBLIC FACILITIES FEES
Revenues:
1,185.00 July 3, 2023 Public Fac Fee/9876 Crestbrook
22.95 July 26,2023 Public Fac Fee/16000 Woodruff
1,207.95
Project Expenditures:
PUBLIC ARTS FEES
Revenues:
Project Expenditures:
PUBLIC SAFETY FACILITIES FEES
Revenues:
28.05 July 24,2023 Public Safety Fee/16000 Woodruff
28.05 Project Expenditures:
TRANSPORTATION FACILITIES FEES
Revenues:
441.66 July 26, 2023 Transportation Fee/16000 Woodruff
441.66
Project Expenditures:
S:\AA\Treasurer's Reports\TR 23-07-TR.xlsx - 3 -
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
July 1, 2022 -June 30, 2023)
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
18,288.00 January 18,2023 Park Fac Fee/9315 Faywood
18,288.00 February 15,2023 Park Fac Fee/10264 Foster
11,887.20 March 7,2023 Park Fac Fee/9324 Mandale
18,288.00 March 30,2023 Park Fac Fee/15303 Cornuta
73,152.00 April 5,2023 Park Fac Fee/9323 Park
12,566.40 April 17,2023 Park Fac Fee/16651 California
14,081.76 May 11,2023 Park Fac Fee/10053 Washington
10,914.40 June 6,2023 Park Fac Fee/10237 Park
415,437.92
Project Expenditures:
38,924.52 Constitution Park Improvements
18,863.49 Thompson Park Improvements
155,385.14 Butterfly Garden Improvements
213,173.15
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
1,185.00 January 18,2023 Public Fac Fee/9315 Faywood
1,185.00 February 15,2023 Public Fac Fee/10264 Foster
770.25 March 7,2023 Public Fac Fee/9324 Mandale
1,185.00 March 30,2023 Public Fac Fee/15303 Cornuta
4,740.00 April 5,2023 Public Fac Fee/9323 Park
814.30 April 17,2023 Public Fac Fee/16651 California
912.45 May 11,2023 Public Fac Fee/10053 Washington
707.22 June 6,2023 Public Fac Fee/10237 Park
2,768.30 June 13,2023 Public Fac Fee/16411 Bellflower
298.36 June 27,2023 Public Fac Fee/17408 Grand
28,807.17
Project Expenditures:
191,709.53 PW Yard Office Renovation
PUBLIC ARTS FEES
Revenues:
17,500.00 April 5,2023 Public Arts Fee/9323 Park
17,500.00
Proiect Expenditures:
75,584.05 Gateway Sign
S:\AA\Treasurers Reports\TR 23-07-TRAlsx -4 -
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
TREASURER'S REPORT FOR THE MONTH OF JULY 2023
CASH AND INVESTMENTS BY TYPE
As of August 24,2023)
I Dollar Amount Invested
Beginning Disbursements/ Ending Yield Type of Issuer of Balance/ Bond Prem. Balance/ Par Market Interest (If Diff.)/ Investment/ Investment/Date of Deficit) Deposits AmortiDiscount (Deficit)Value Value Rate Steps Deposit Deposit Maturity CITY OF BELLFLOWER:
State of California
Local Agency Investment Fund (1) 14,333,750 $ 188,633 $ (4,000,000) $ 10,522,383 N/A $ 10,362,743 3.305% See attached Pooled Money Investment Account Portfolio.
Detail report available at:
https://www.treasurerca.00v/pmia-laif/pmia/index.asp
Los Angeles County Pooled Investment Fund(5) 3,420,094 12,999 3,433,093 N/A 3,267,178 3.750% See attached Los Angeles County Pooled Surplus Investments.
Detail report available at:
https://ttc.l acounty.gov/monthly-reports/
CalTrust/Local Agency Investment Pool(4)
Liquidity Fund 52,233 226 52,459 N/A 52,459 5.260% Local Agency Investment Trust of Investment Pool California,dba CaITRUST
Cash/Investments Held By Bond Trustee-
Bank of New York Mellon Trust Company
Dreyfus Treasury Securities Cash Management- 59 59 N/A 59 5.150% Money Market Fund Dreyfus N/A Institutional/(2008/2018)2021 COPs
Dreyfus Treasury Securities Cash Management- 921 777,959 778,880 N/A 778,880 5.160% Money Market Fund Dreyfus N/A Institutional/2021 Pension Obligation Bonds
Cash/Investments Held By Trustee-
Bank of New York Mellon Trust Company
Dreyfus Treasury Securities Cash Management- 5,120,110 20,886 5,140,996 N/A 5,140,996 5.160% Money Market Fund Dreyfus N/A Institutional/Water Infrastructure Trust Fund
Cash/Investments Held By Custodian-
Bank of New York Mellon Trust Company
Federal Home Loan Bank 3,000,000 3,000,000) U.S.Agency Bonds Federal Home Loan Bank 7/27/2023 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,985,540 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 2,993,880 5.000% U.S.Agency Bonds Federal Home Loan Bank 11/28/2023 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,973,420 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 2,968,380 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 2,989,710 5.350% U.S.Agency Bonds Federal Home Loan Bank 3/15/2024 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,967,000 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 2,990,820 5.500% U.S.Agency Bonds Federal Home Loan Bank 3/27/2024 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,976,780 4.750% U.S.Agency Bonds Federal Home Loan Bank 4/26/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,941,770 3.250% U.S.Agency Bonds Mortgage Corporation 5/17/2024 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,924,880 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 2,978,790 4.500% Step-Up U.S.Agency Bonds Federal Home Loan Bank 7/26/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,950,830 4.100% U.S.Agency Bonds Mortgage Corporation 8/12/2024 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,955,960 3.750% Step-Up U.S.Agency Bonds Federal Home Loan Bank 8/23/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,941,410 3.820% U.S.Agency Bonds Mortgage Corporation 8/28/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,944,560 4.000% U.S.Agency Bonds Mortgage Corporation 9/13/2024 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,963,340 4.800% U.S.Agency Bonds Federal Home Loan Bank 10/18/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,939,940 4.000% U.S.Agency Bonds Mortgage Corporation 10/18/2024 TAE O.RHEE,FINANCE DIRECTOR/TREASURER S.VW\Tnasurer's Reporte\TR 2307-TR.A. -
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
TREASURER'S REPORT FOR THE MONTH OF JULY 2023
CASH AND INVESTMENTS BY TYPE
As of August 24,2023)
Dollar Amount Invested I
Beginning Disbursements/ Ending Yield Type of Issuer of I 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 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,936,370 4.000% U.S.Agency Bonds Mortgage Corporation 11/25/2024 Federal Home Loan Bank 2,000,000 2,000,000 2,000,000 1,986,440 5.450% U.S.Agency Bonds Federal Home Loan Bank 12/12/2024 Federal Home Loan Bank 2,650,000 2,650,000 2,650,000 2,634,074 5.580% U.S.Agency Bonds Federal Home Loan Bank 12/20/2024 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,928,330 4.000% U.S.Agency Bonds Mortgage Corporation 2/26/2025 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,983,890 5.730% U.S.Agency Bonds Mortgage Corporation 4/3/2025 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,998,560 5.750% U.S.Agency Bonds Federal Home Loan Bank 7/14/2025 Federal Home Loan
Federal Home Loan Mortgage Corporation 3,000,000 3,000,000 3,000,000 2,964,630 4.000% Step-Up U.S.Agency Bonds Mortgage Corporation 8/25/2025 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,998,770 5.750% U.S.Agency Bonds Federal Home Loan Bank 1/27/2026 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,963,610 4.500% Step-Up U.S.Agency Bonds Federal Home Loan Bank 1/28/2026 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 3,000,330 5.500% U.S.Agency Bonds Federal Home Loan Bank 7/24/2026 Federal Home Loan Bank 3,000,000 3,000,000 3,000,000 2,983,860 5.375% Step-Up U.S.Agency Bonds Federal Home Loan Bank 3/6/2026 Federal Home Loan Bank 5,000,000 5,000,000 5,000,000 4,940,450 4.500% Step-Up U.S.Agency Bonds Federal Home Loan Bank 9/30/2027 Dreyfus Treasury Securities Cash Management-
Institutional 9,846,512 4,227,263 (9,043,454) 5,030,321 N/A 5,030,321 5.160% Money Market Fund Dreyfus N/A Charles Schwab Trust Bank
Section 115 Pension Stabilization Trust
Various Investments/ Various;Held by Charles
Investments/Mutual Funds 1,031,789 884 1,032,672 N/A 1,108,705 N/A Mutual Funds Schwab Trust N/A Charles Schwab Trust
Trust Cash 11,620 958 919) 11,658 N/A 11,658 0.450% Trust Cash Account Bank N/A TOTAL INVESTMENTS 112,467,088 17,229,808 (16,044,373) 113,652,522 112,459,323 BANK DEPOSITS(2):
General Operating Account(3) 7,399,277 9,926,962 (11,490,707) 5,835,532 N/A 5,835,532 N/A Checking Account Bank of the West N/A Payroll Account(3)5,283) 1,110,402 (1,108,439) 3,320) N/A 3,320) N/A Checking Account Bank of the West N/A Revolving Account(3)N/A N/A Checking Account Bank of the West N/A Sec.125 Flex Spending Account(3) 16,514 1,098) 15,416 N/A 15,416 N/A Checking Account Bank of the West N/A Pooled Cash Allocated to SA 13,053)13,053) N/A 13,053) N/A TOTAL BANK DEPOSITS 7,410,508 11,037,364 (12,613,297) 5,834,575 5,834,575 PETTY CASH 4,290 4,290 N/A 4,290 N/A
CITY-
TOTAL DEPOSITS AND INVESTMENTS 119,881,886 $ 28,267,172 $ (28,657,670) $ 119,491,387 118,298,188 TAE O.RHEE.FINANCE DIRECTOR/TREASURER65:VN1Tneewerb Repots\TR 23-07-TR.tlex
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
TREASURER'S REPORT FOR THE MONTH OF JULY 2023
CASH AND INVESTMENTS BY TYPE
As of August 24,2023)
Dollar Amount Invested
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 SUCCESSOR AGENCY:
BOW Business Checking Account(2)(3) 1,787,378 $ 1,753,429) $ 33,949 N/A $ 33,949 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- 6,180 479,310 485,490 N/A 485,490 5.160% Money Market Fund Dreyfus N/A Institutional
TOTAL INVESTMENTS 1,793,558 479,310 (1,753,429)519,439 519,439 Pooled Cash Account 13,053 13,053 N/A 13,053 N/A
SUCCESSOR AGENCY-
TOTAL DEPOSITS AND INVESTMENTS 1,793,558 $ 492,363 $ (1,753,4291 $ 532,492 532,492 CITY 8 SUCCESSOR AGENCY-
TOTAL DEPOSITS AND INVESTMENTS 121,675,444 $ 28,759,535 $ (30,411,099) $ 120,023,879 118,830,680 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) CaITRUST 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 O.RHEE,FINANCE DIRECTOR/TREASURER S.VN\Treasurer's ReporN\TR 7307-TR.deo t I
TREASURER'S REPORT FOR THE MONTH OF JULY 2023
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND - FUND NO. 050
STATEMENT OF RECEIPTS,ALLOCATIONS AND EXPENDITURES
As of August 24, 2023)
ACTUAL ACTUAL BUDGET
Fiscal Year Reporting FY 2023-24 Fiscal Year
2022-23 Month To Date 2023-24
Beginning Cash Balance 259,470 $ 338,025 $ 338,025 338,025 Receipts:
SLESF Funding 196,933 200,000
Interest 9,186 7,800
Total Receipts 206,119 207,800
Expenditures/Allocations:
L.A. County Sheriffs Department/
City Public Safety
General Law Cars 110,000) 150,000)
Equipment Leases/Purchases 11,795) 49,000)
Total Expenditures/Allocations 121,795) 199,000)
Net Adjustment(Receivables & Payables) 5,769) 2,217 2,217 EndingCash Balance 338,025 $ 340 242 346 825340,242 Note: Balances in this report have been adjusted to reflect fiscal year-end closing entries.
TAE G.RHEE,FINANCE DIRECTOR/TREASURER S:\AA\Treasurers Reports\TR 23-07-TR.xlsx ' 8
CITY OF BELLFLOWER& BELLFLOWER SUCCESSOR AGENCY
TREASURER'S REPORT
The City of Bellflower and SuccessorAgency 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
PMIA Market Valuation
https://www.treasurer.ca.gov/pmia-laif/reports/valuation.asp PMIA Selected Investment Data
https://www.treasurer.ca.gov/pmia-laif/performance/data.pdf Los Angeles County Pooled Investment Fund:
Los Angeles County Pooled Surplus Investments
https://ttc.lacounty.gov/monthly-reports/
TAE G.RHEE,FINANCE DIRECTOR/TREASURER S:WA\Treasurer's Reports\TR 2307-TR.Asx -9 -
t
o,.
tNIES/
MFyr State of California
W PMIA T. Pooled Money Investment Account
Market Valuation
s4
FlY IMUID\VI.
k<*
7/31/2023
7----- Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 22,920,227,364.58 $ 23,272,620,000.00 NA
Notes 83,314,819,866.68 $ 81,193,694,500.00 $ 369,399,386.50 Federal Agency:
SBA 298,056,508.17 $ 297,329,020.36 $ 1,319,177.05 MBS-REMICs 2,785,943.15 $ 2,722,924.80 $ 12,388.10 Debentures 8,820,713,286.83 $ 8,646,121,900.00 $ 57,478,299.40 Debentures FR
Debentures CL 1,600,000,000.00 $ 1,553,961,000.00 $ 14,177,742.50 Discount Notes 26,191,585,597.26 $ 26,522,640,500.00 NA Supranational Debentures $ 3,170,170,437.63 $ 3,101,232,000.00 $ 22,819,258.10 Supranational Debentures FR $
CDs and YCDs FR
Bank Notes 100,000,000.00 $ 99,907,181.10 $ 2,552,083.33 CDs and YCDs 13,450,000,000.00 $ 13,443,309,931.60 $ 230,379,805.55 Commercial Paper 7,646,843,861.11 $ 7,723,753,430.51 NA Corporate:
Bonds FR
Bonds 438,848,712.92 $ 414,791,860.00 $ 2,753,541.98 Repurchase Agreements
Reverse Repurchase
Time Deposits 5,208,000,000.00 $ 5,208,000,000.00 NA PMIA&GF Loans 349,147,000.00 $ 349,147,000.00 NA TOTAL 173,511,198,578.33 $ 171,829,231,248.37 $ 700,891,682.51 Fair Value Including Accrued Interest 172,530,122,930.88 Repurchase Agreements, Time Deposits, PMIA& General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value(carrying cost). 10-
dIH.,%
VEST
V1:1POOLED MONEY INVESTMENT ACCOUNT
1 v
trousPr'
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio Dollars In Thousands)
July 31, 2023
DIFFERENCE IN
PERCENT OF
PERCENT OF PORTFOLIO FROM
TYPE OF SECURITY AMOUNT($) PORTFOLIO PRIOR MONTH
Government
Bills 22,920,227 13.21 1.37
Bonds 0 0.00 0
Notes 83,314,820 48.02 0.48
Strips 0 0.00 0
Total Government 106,235,047 61.23 1.85
Agency Debentures 13,888,940 8.00 0.21
Certificates of Deposit 13,450,000 7.75 0.35
Bank Notes 100,000 0.06 0.05
Repurchases 0 0.00 0
Agency Discount Notes 26,191,586 15.10 1.12
Time Deposits 5,208,000 3.00 0.15
GNMAs 0 0.00 0
Commercial Paper 7,646,844 4.41 0.08
Remics 2,786 0.00 0
Corporate Bonds 438,849 0.25 0.01
PMIA Loans 349,147 0.20 0
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 173,511,199 100.00
Percentages may be off due to rounding.
INVESTMENT ACTIVITY July 2023 June 2023
NUMBER AMOUNT($) NUMBER AMOUNT($)
Pooled Money 716 35,481,329 1,050 52,088,682
Other 2 5,326 26 1,052,425
Time Deposits 55 2,084,000 52 1,723,000
Total 773 37,570,655 1,128 54,864,107
PMIA Monthly Average Effective Yield (%) 3.305 3.167 Year to Date Yield Last Day of Month (%) 3.305 2.170 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 June 30, 2023, 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 21.846
Schools and Community Colleges 29.409
Discretionary Participants 3.319
Total 54.574
The Treasury Pool participation composition is as follows:
Non-discretionary Participants 93.92%
Discretionary Participants:
Independent Public Agencies 5.93%
County Bond Proceeds and Repayment Funds 0.15%
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 21, 2023, 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 12-
the Investment Report dated July 31, 2023, the June 30, 2023 book value of the Treasury Pool was approximately $54.574 billion, and the corresponding market value was approximately $51.937 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 June 30, 2023:
Type of Investment of Pool
Certificates of Deposit 5.41
U.S. Government and Agency Obligations 69.41
Bank Acceptances 0.00
Commercial Paper 25.11
Municipal Obligations 0.05
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 June 30, 2023, approximately 36.84% of the investments mature within 60 days, with an average of 753 days to maturity for the entire portfolio.
TreesPool Update
06/30/2023
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POOLED SURPLUS EARNINGS REPORT
JUNE 30, 2023
SCHEDULE B
TREASURER POOLED SURPLUS
INVESTMENT PORTFOLIO
Investment Balance 06/30/23 54,574,147,314
Market Value at 06/30/23 51,936,678,871
Average Daily Balance 53,663,404,172
Gains and Losses:
For the Month
For the Past 12 Months
Unrealized Gains and Losses on Transfers
between Portfolio for the Month
Earnings for the Month 169,203,980
Earnings for the Past 12 Months 1,435,976,022
Earnings Rate for the Month 3.82%
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