https://bellflowergcc.sharepoint.com/sites/fin/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 2023.
DATE: November 27, 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.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, Public Facilities, Transportation Facilities, and Public Safety Facilities) and Public Arts Fees for fiscal years 2022-23 and 2023-24.
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 2023 ......................................................... 2
-1-
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 43,020,408$ 4,231,199$ (3,704,096)$ 43,547,511$ 011 General Fund Capital Projects 16,253,970 183,327 - 16,437,297 012 Public Projects 11,223,280 125,175 - 11,348,455 999 Cash Clearing Unallocated Interest 899,802 585,715 (1,023,568) 461,949 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,604,663 125,852 (18,964) 1,711,551 022 Public Facilities 16,398 7,225 - 23,623 026 Public Safety Facilities 28 1 (1) 28 028 Transportation Facilities 442 3 - 445 020 Public Arts 248,011 3,082 - 251,093 Other Funds
013 DOT Highway Relinquishment 3,376,352 35,335 - 3,411,687 015 Transportation Development Act (TDA) Article 3 - - (90,000) (90,000) 030 Grant Projects 1,131,404 244,100 (2,590) 1,372,914 037 Drug Rehabilitation Program 301,178 - (1,000) 300,178 040 Public Educational Government (PEG) 899,842 84 - 899,926 050 California COPS 295,976 127,831 (43,282) 380,525 070 Measure A Fund (518,055) - - (518,055) 090 Agency Fund/Refundable Deposits-Private Projects 1,626,367 231,770 (12,900) 1,845,237 100 Proposition A - Transportation 1,953,952 201,105 (42,178) 2,112,879 115 Measure M - Streets 3,916,772 282,889 (727,814) 3,471,847 125 Measure R - Streets 2,763,462 136,612 (138,471) 2,761,603 135 Proposition C - Streets 2,469,591 171,917 (96,738) 2,544,770 140 State Gas Tax - Streets 5,122,555 433,049 (256,517) 5,299,087 145 Road Maintenance and Rehabilitation Account (RMRA) 5,300,577 219,945 - 5,520,522 150 Air Quality Management District Fees 136,784 2,265 - 139,049 230 Sewer Reconstruction 316,278 - - 316,278 320 Measure W 3,518,072 38,116 (24,912) 3,531,276 510 Economic Development 2,897,032 357 (50,847) 2,846,542 530 Equipment Replacement 1,520,404 14,887 (75,258) 1,460,033 540 GIS Update 250,981 2,534 - 253,515 542 General Planning and Zoning Update 991,368 7,600 (7,909) 991,059 600 Building and Safety 380,056 75,737 (65,642) 390,151 602 CASp Certification and Training 105,679 1,569 (570) 106,678 700 Debt Service - Public Facilities Corporation - 57,625 (57,625) - 710 Debt Service - Financing Authority (14,216) 9,397 - (4,819) 720 Debt Service - 2021/2018 Transportation COPS 744,354 1,708 (744,295) 1,767 730 Debt Service - 2021 Pension Obligation Bonds 1,540 7 - 1,547 900 Community Development Block Grant (CDBG) (612,728) 500,523 (108,110) (220,315) 910 HOME Investment Partnership (31,423) - (70,038) (101,461) 920 ARPA SLFRP Fund 5,000,000 - - 5,000,000 944 Parking District No. 1 (13,921) - (4,506) (18,427) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 590,622 6,288 (5,042) 591,868 TOTAL CITY OF BELLFLOWER 117,687,857$ 8,064,829$ (7,372,873)$ 118,379,813$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 419,824 1,663 (1) 421,486 972 Successor Agency Administration Fund 7,690 - (1,826) 5,864 TOTAL SUCCESSOR AGENCY 427,514$ 1,663$ (1,827)$ 427,350$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 118,115,371$ 8,066,492$ (7,374,700)$ 118,807,163$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of November 16, 2023)
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 2023
TAE G. RHEE, FINANCE DIRECTOR/TREASURER https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -2-
PARK FACILITIES FEES
Revenues:
18,288.00$ July 3, 2023 Park Fac Fee/9876 Crestbrook 21,839.00 September 14, 2023 Park Fac Fee/10337 Mapledale 21,839.00 October 17, 2023 Park Fac Fee/10349 Mapledale 21,839.00 October 17, 2023 Park Fac Fee/10341 Mapledale 21,839.00 October 17, 2023 Park Fac Fee/10345 Mapledale 21,839.00 October 17, 2023 Park Fac Fee/10347 Mapledale 21,839.00 October 17, 2023 Park Fac Fee/10339 Mapledale 149,322.00$
Project Expenditures:
26,822.74$ Park Master Plan
4,592.42 Butterfly Garden Improvements
362.70 Thompson Park Improvements
31,777.86$
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 1,416.00 September 14, 2023 Public Fac Fee/10337 Mapledale 488.42 September 25, 2023 Public Fac Fee/9045 Rosecrans 830.77 September 28, 2023 Public Fac Fee/15700 Woodruff 1,416.00 October 17, 2023 Public Fac Fee/10349 Mapledale 1,416.00 October 17, 2023 Public Fac Fee/10341 Mapledale 1,416.00 October 17, 2023 Public Fac Fee/10345 Mapledale 1,416.00 October 17, 2023 Public Fac Fee/10347 Mapledale 1,416.00 October 17, 2023 Public Fac Fee/10339 Mapledale 11,023.14$
Project Expenditures:
-$
-$
PUBLIC ARTS FEES
Revenues:
16,000.00$ September 14, 2023 Public Arts Fee/10337 Mapledale 10,000.00 September 25, 2023 Public Arts Fee/9045 Rosecrans 26,000.00$
Project Expenditures:
46,662.97$ Bellflower Gateway Sign
46,662.97$
PUBLIC SAFETY FACILITIES FEES
Revenues:
28.05$ July 26, 2023 Public Safety Fac Fee/16000 Woodruff
28.05$
Project Expenditures:
-$
-$
TRANSPORTATION FACILITIES FEES
Revenues:
441.66$ July 26, 2023 Transportation Fac Fee/16000 Woodruff 441.66$
Project Expenditures:
-$
-$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2023 - October 31, 2023)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -3-
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$
Project Expenditures:
75,584.05$ Bellflower Gateway Sign
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2022 - June 30, 2023)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -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 :
State of California
Local Agency Investment Fund (1)10,022,383$ 103,140$ (1,000,000)$ 9,125,524$ N/A 9,000,575$ 3.670%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)3,452,924 9,612 - 3,462,536 N/A 3,254,302 3.850%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 52,939 249 - 53,187 N/A 53,187 5.530%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
744,353 1,709 (744,295) 1,767 N/A 1,767 5.290% Money Market Fund Dreyfus N/A -Dreyfus Treasury Securities Cash Management -
Institutional / 2021 Pension Obligation Bonds
1,540 6 - 1,546 N/A 1,546 5.290% Money Market Fund Dreyfus N/A Cash / Investments Held By Trustee -
Bank of New York Mellon Trust Company
-Dreyfus Treasury Securities Cash Management -
Institutional / Water Infrastructure Trust Fund
5,185,830 22,255 - 5,208,085 N/A 5,208,085 5.290% 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) - - - 3.500%U.S. Agency Bonds Federal Home Loan Bank 10/26/2023 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,998,470 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 2,990,430 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 2,984,850 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 2,997,300 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 2,982,330 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 2,994,870 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 2,987,040 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 2,962,560 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 2,950,110 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 2,990,310 5.000%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 2,964,420 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 2,973,060 4.000%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 2,956,590 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 2,958,510 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 2,973,990 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 2,954,580 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 10/18/2024
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 2023
Dollar Amount Invested
(As of November 16, 2023)
TAE G. RHEE, FINANCE DIRECTOR/TREASURER https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -5-
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 2023
Dollar Amount Invested
(As of November 16, 2023)
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,955,150 4.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 11/25/2024
-Federal Home Loan Bank 2,000,000 - - 2,000,000 2,000,000 1,990,480 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 2,638,658 5.580%U.S. Agency Bonds Federal Home Loan Bank 12/20/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,939,790 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 2,987,640 5.730%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 4/3/2025
-Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,985,540 5.750%U.S. Agency Bonds Federal Home Loan Bank 7/14/2025 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,987,220 5.500%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 8/1/2025
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,964,060 5.000%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 2,981,490 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 2,966,850 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 2,988,300 5.375%Step-Up U.S. Agency Bonds Federal Home Loan Bank 3/6/2026 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,983,050 5.500%U.S. Agency Bonds Federal Home Loan Bank 7/24/2026 -Federal Home Loan Bank 5,000,000 - - 5,000,000 5,000,000 4,950,750 5.000%Step-Up U.S. Agency Bonds Federal Home Loan Bank 9/30/2027 -Federal Home Loan Mortgage Corporation - 3,000,000 - 3,000,000 3,000,000 2,980,020 6.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 10/26/2027
-Dreyfus Treasury Securities Cash Management -
Institutional 2,748,452 472,713 - 3,221,165 N/A 3,221,165 5.290%Money Market Fund Dreyfus N/A
Charles Schwab Trust Bank
-Section 115 Pension Stabilization Trust
Investments / Mutual Funds 1,040,776 1,928 - 1,042,704 N/A 1,027,671 N/A Various Investments /
Mutual Funds
Various; Held by Charles
Schwab Trust N/A
Trust Cash 11,272 3,012 (1,964) 12,320 N/A 12,320 0.450%Trust Cash Account Charles Schwab Trust
Bank N/A
TOTAL INVESTMENTS 113,910,468 3,614,624 (4,746,259) 112,778,833 111,699,036 BANK DEPOSITS (2):
-General Operating Account (3)3,779,564 6,922,466 (5,103,243) 5,598,787 N/A 5,598,787 N/A Checking Account BMO N/A -Payroll Account (3)(12,111) 1,194,514 (1,191,085) (8,682) N/A (8,682) N/A Checking Account BMO N/A -Revolving Account (3)- 238,942 (238,942) - N/A - N/A Checking Account BMO N/A -Sec. 125 Flex Spending Account (3)13,336 - (889) 12,447 N/A 12,447 N/A Checking Account BMO N/A - Pooled Cash Allocated to SA (7,690) 1,828 - (5,862) N/A (5,862) N/A TOTAL BANK DEPOSITS 3,773,099 8,357,750 (6,534,159) 5,596,690 5,596,690 PETTY CASH 4,290 - - 4,290 N/A 4,290 N/A CITY -
TOTAL DEPOSITS AND INVESTMENTS 117,687,857$ 11,972,374$ (11,280,418)$ 118,379,813$ 117,300,016$ TAE G. RHEE, FINANCE DIRECTOR/TREASURER https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -6-
Beginning Disbursements/Ending Yield Type of Issuer of
Balance/Bond Prem.Balance/Par Market Interest (If Diff.)/Investment/Investment/Date of (Deficit)Deposits Amort./Discount (Deficit)Value Value Rate Steps Deposit Deposit Maturity
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
CASH AND INVESTMENTS BY TYPE
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 2023
Dollar Amount Invested
(As of November 16, 2023)
SUCCESSOR AGENCY:
BMO Business Checking Account (2) (3)32,399$ -$ -$ 32,399$ N/A 32,399$ N/A Checking Account BMO 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
387,425 1,663 - 389,089 N/A 389,089 5.290% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 419,824 1,663 - 421,488 421,488 Pooled Cash Account 7,690 - (1,828) 5,862 N/A 5,862 N/A
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 427,514$ 1,663$ (1,828)$ 427,350$ 427,350$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 118,115,371$ 11,974,037$ (11,282,246)$ 118,807,163$ 117,727,366$ 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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. The current interest rate and market value are estimates based on the preceding month's data.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.Interest rates and market values are provided on the monthly trustee, custody and investment statements and websites.
TAE G. RHEE, FINANCE DIRECTOR/TREASURER https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -7-
ACTUAL BUDGET
Fiscal Year Reporting FY 2023-24 Fiscal Year
2022-23 Month To Date 2023-24
Beginning Cash Balance 259,470$ 295,976$ 338,025$ 338,025$ Receipts:
SLESF Funding 196,933 124,373 124,373 200,000 Interest 9,186 3,458 3,458 7,800 Total Receipts 206,119 127,831 127,831 207,800 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (110,000) - (84,599) (150,000) Equipment Leases / Purchases (11,795) - (1,966) (49,000) Total Expenditures/Allocations (121,795) - (86,565) (199,000) Net Adjustment (Receivables & Payables)(5,769) (43,282) 1,234 - Ending Cash Balance 338,025$ 380,525$ 380,525$ 346,825$ Note: Balances in this report have been adjusted to reflect fiscal year-end closing entries.
ACTUAL
(As of November 16, 2023)
TREASURER'S REPORT FOR THE MONTH OF OCTOBER 2023
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND - FUND NO. 050
STATEMENT OF RECEIPTS, ALLOCATIONS AND EXPENDITURES
TAE G. RHEE, FINANCE DIRECTOR/TREASURER https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-10 -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
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/
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 23-09 -9-
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 27,362,385,544.60$ 27,688,866,500.00$ NA Notes 74,723,150,217.27$ 73,067,344,500.00$ 379,860,665.50$ Federal Agency:
SBA 286,125,786.69$ 285,460,873.80$ 1,326,221.82$
MBS-REMICs 2,300,832.94$ 2,226,326.97$ 10,147.44$
Debentures 9,232,490,986.18$ 9,066,268,750.00$ 58,738,015.70$ Debentures FR -$ -$ -$
Debentures CL 800,000,000.00$ 779,656,000.00$ 6,377,986.50$ Discount Notes 22,486,864,618.01$ 22,789,981,500.00$ NA Supranational Debentures 3,019,396,107.33$ 2,952,865,900.00$ 20,953,731.60$ Supranational Debentures FR -$ -$ -$
CDs and YCDs FR -$ -$ -$
Bank Notes -$ -$ -$
CDs and YCDs 12,950,000,000.00$ 12,945,802,665.31$ 134,832,513.87$ Commercial Paper 8,823,250,777.72$ 8,894,888,513.90$ NA Corporate:
Bonds FR -$ -$ -$
Bonds 512,632,935.77$ 488,209,800.00$ 3,195,764.23$
Repurchase Agreements -$ -$ -$
Reverse Repurchase -$ -$ -$
Time Deposits 5,154,000,000.00$ 5,154,000,000.00$ NA
PMIA & GF Loans 380,626,000.00$ 380,626,000.00$ NA
TOTAL 165,733,223,806.51$ 164,496,197,329.98$ 605,295,046.66$ Fair Value Including Accrued Interest 165,101,492,376.64$ 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
10/31/2023
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TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 27,362,386 16.51 +2.28
Bonds 0 0.00 0
Notes 74,723,150 45.09 -5.05
Strips 0 0.00 0
Total Government 102,085,536 61.60 -2.77
Agency Debentures 13,338,013 8.05 -0.33
Certificates of Deposit 12,950,000 7.81 +0.84
Bank Notes 0 0.00 -0.06
Repurchases 0 0.00 0
Agency Discount Notes 22,486,865 13.57 +1.23
Time Deposits 5,154,000 3.11 -0.24
GNMAs 0 0.00 0
Commercial Paper 8,823,251 5.32 +1.31
Remics 2,300 0.00 0
Corporate Bonds 512,633 0.31 +0.03
PMIA Loans 380,626 0.23 -0.01
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types) 165,733,224 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY October 2023 September 2023
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 932 46,096,339 1,249 62,065,902
Time Deposits 70 1,984,000 63 2,136,000
Other 14 728,900 3 1,610,998
Total 1,016 48,809,239 1,315 65,812,900
PMIA Monthly Average Effective Yield (%) 3.670 3.534
Year to Date Yield Last Day of Month (%) 3.481 3.421
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
October 31, 2023
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THE LOS ANGELES COUNTY POOLED SURPLUS INVESTMENTS
The Treasurer and Tax Collector (the Treasurer) of Los Angeles County has the delegated authority to invest funds on deposit in the County Treasury (Treasury Pool).
As of September 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:
The Treasury Pool participation composition is as follows:
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 Local Agency
Invested Funds
(in billions)
County of Los Angeles and Special Districts $19.913 Schools and Community Colleges 26.749
Discretionary Participants 3.159
Total $49.821
Non-discretionary Participants 93.66%
Discretionary Participants:
Independent Public Agencies 6.19%
County Bond Proceeds and Repayment Funds 0.15%
Total 100.00%
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the Investment Report dated October 31, 2023, the September 30, 2023 book value of the Treasury Pool was approximately $49.821 billion, and the corresponding market value was approximately $46.825 billion.
An internal controls system for monitoring cash accounting and investment practices is in place. The Treasurer's Compliance Auditor, who operates independently from the Investment Officer, reconciles cash and investments to fund balances daily. The Compliance Auditor’s staff also reviews each investment trade for accuracy and compliance with the Board adopted Investment Policy. On a quarterly basis, the County’s outside independent auditor (External Auditor) reviews the cash and investment reconciliations for completeness and accuracy. Additionally, the External Auditor reviews investment transactions on a quarterly basis for conformance with the approved Investment Policy and annually accounts for all investments.
The following table identifies the types of securities held by the Treasury Pool as of September 30, 2023:
Type of Investment % of Pool
Certificates of Deposit 4.62
U.S. Government and Agency Obligations 72.10
Bank Acceptances 0.00
Commercial Paper 23.20
Municipal Obligations 0.06
Corporate Notes & Deposit Notes 0.02
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of September 30, 2023, approximately 33.04% of the investments mature within 60 days, with an average of 805 days to maturity for the entire portfolio.
TreasPool Update
09/30/2023
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Investment Balance 09/30/23 49,820,778,613$
Market Value at 09/30/23 46,824,610,075$
Average Daily Balance 47,932,824,799$
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 152,088,674$
Earnings for the Past 12 Months 1,741,022,109$
Earnings Rate for the Month 3.85%
POOLED SURPLUS EARNINGS REPORT
SEPTEMBER 30, 2023
SCHEDULE B
TREASURER POOLED SURPLUS
INVESTMENT PORTFOLIO
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