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: Ryan Smoot, 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 December 2023.
DATE: January 22, 2024
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 December 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 43,324,771$ 3,657,596$ (3,093,908)$ 43,888,459$ 011 General Fund Capital Projects 16,656,524 22,654 (3,515) 16,675,663 012 Public Projects 11,348,455 4,260 - 11,352,715 999 Cash Clearing Unallocated Interest 702,508 365,514 - 1,068,022 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,704,843 15,022 (425,425) 1,294,440 022 Public Facilities 23,623 973 - 24,596 026 Public Safety Facilities 28 - - 28 028 Transportation Facilities 445 - - 445 020 Public Arts 185,989 - - 185,989 Other Funds
013 DOT Highway Relinquishment 3,409,437 - (3,408) 3,406,029 015 Transportation Development Act (TDA) Article 3 (90,000) - - (90,000) 030 Grant Projects 1,144,003 - (339,638) 804,365 037 Drug Rehabilitation Program 285,178 5,000 (914) 289,264 040 Public Educational Government (PEG) 921,917 - - 921,917 050 California COPS 367,628 30,936 (24,084) 374,480 070 Measure A Fund (135,759) - (70,695) (206,454) 090 Agency Fund/Refundable Deposits-Private Projects 1,868,607 30,800 (22,536) 1,876,871 100 Proposition A - Transportation 2,176,971 261,846 (171,866) 2,266,951 115 Measure M - Streets 3,581,273 - (521,301) 3,059,972 125 Measure R - Streets 2,817,234 106,390 (49,413) 2,874,211 135 Proposition C - Streets 2,606,990 145,559 (100,496) 2,652,053 140 State Gas Tax - Streets 5,299,087 191,242 (120,364) 5,369,965 145 Road Maintenance and Rehabilitation Account (RMRA) 5,698,752 142,242 (198,841) 5,642,153 150 Air Quality Management District Fees 139,049 - - 139,049 230 Sewer Reconstruction 316,278 - - 316,278 320 Measure W 3,457,065 - (66,802) 3,390,263 510 Economic Development 2,842,627 - (37,013) 2,805,614 530 Equipment Replacement 1,340,753 - (84,108) 1,256,645 540 GIS Update 256,768 2,726 - 259,494 542 General Planning and Zoning Update 1,000,818 65,759 - 1,066,577 600 Building and Safety 418,413 74,479 (70,870) 422,022 602 CASp Certification and Training 107,848 1,207 - 109,055 700 Debt Service - Public Facilities Corporation - - - - 710 Debt Service - Financing Authority 1,045 2,334 - 3,379 720 Debt Service - 2021/2018 Transportation COPS 1,881 8 - 1,889 730 Debt Service - 2021 Pension Obligation Bonds 1,554 7 (2,121) (560) 900 Community Development Block Grant (CDBG) (128,537) 300 (65,398) (193,635) 910 HOME Investment Partnership (12,410) - (15,546) (27,956) 920 ARPA SLFRP Fund 5,000,000 - (3,130,756) 1,869,244 944 Parking District No. 1 (23,429) 16,322 (11,177) (18,284) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 590,776 96 (1,459) 589,413 TOTAL CITY OF BELLFLOWER 119,209,003$ 5,143,272$ (8,631,654)$ 115,720,621$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 407,715 1,693 - 409,408 972 Successor Agency Administration Fund 3,628 - (2,165) 1,463 TOTAL SUCCESSOR AGENCY 411,343$ 1,693$ (2,165)$ 410,871$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 119,620,346$ 5,144,965$ (8,633,819)$ 116,131,492$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of January 15, 2024)
TREASURER'S REPORT FOR THE MONTH OF DECEMBER 2023
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
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 15,021.58 December 29, 2023 Park Fac Fee/9435 Cedar 164,343.58$
Project Expenditures:
75,976.51$ Park Master Plan
60,424.17 Butterfly Garden Improvements
350,385.68 Thompson Park Improvements
486,786.36$
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 973.34 December 29, 2023 Public Fac Fee/9435 Cedar 11,996.48$
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:
115,193.07$ Bellflower Gateway Sign
115,193.07$
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 - December 31, 2023)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
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 23-11
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)11,625,524$ -$ (2,500,000)$ 9,125,524$ N/A 9,066,601$ 3.929%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)3,475,582 10,699 - 3,486,281 N/A 3,317,712 4.020%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 53,429 252 - 53,681 N/A 53,681 5.430%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
1,880 9 - 1,889 N/A 1,889 5.250% Money Market Fund Dreyfus N/A -Dreyfus Treasury Securities Cash Management -
Institutional / 2021 Pension Obligation Bonds
1,554 6 - 1,560 N/A 1,560 5.250% 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
5,231,293 22,654 (3,130,756) 2,123,191 N/A 2,123,191 5.250% 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 - 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 2,993,940 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 2,999,550 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 2,990,790 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 - 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 2,994,960 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 2,977,260 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 2,970,120 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 2,995,170 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 2,980,440 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 2,987,040 4.250%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 2,975,010 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 2,977,320 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 2,987,670 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 2,974,350 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 DECEMBER 2023
Dollar Amount Invested
(As of January 15, 2024)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
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 DECEMBER 2023
Dollar Amount Invested
(As of January 15, 2024)
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,976,660 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 1,998,660 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 - 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 2,966,670 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 3,002,460 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 - 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 2,999,310 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 2,986,020 5.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 8/25/2025
-Federal Home Loan Bank - 5,000,000 - 5,000,000 5,000,000 4,999,950 5.400%U.S. Agency Bonds Federal Home Loan Bank 12/22/2025 -Federal Home Loan Bank 3,000,000 - - 3,000,000 3,000,000 2,994,360 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 2,986,800 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 2,996,400 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 2,998,260 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 4,979,250 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 2,999,340 6.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 10/26/2027
-Dreyfus Treasury Securities Cash Management -
Institutional 6,448,435 7,004,565 - 13,453,000 N/A 13,453,000 5.250%Money Market Fund Dreyfus N/A
Charles Schwab Trust Bank
-Section 115 Pension Stabilization Trust
Investments / Mutual Funds 1,042,679 7,113 - 1,049,792 N/A 1,154,444 N/A Various Investments /
Mutual Funds
Various; Held by Charles
Schwab Trust N/A
Trust Cash 12,773 7,832 (7,203) 13,402 N/A 13,402 0.450%Trust Cash Account Charles Schwab Trust
Bank N/A
TOTAL INVESTMENTS 115,543,148 12,053,130 (17,287,959) 110,308,319 109,873,240 BANK DEPOSITS (2):
-General Operating Account (3)3,660,434 7,100,989 (5,350,125) 5,411,298 N/A 5,411,298 N/A Checking Account BMO N/A -Payroll Account (3)(6,326) 1,196,640 (1,197,117) (6,803) N/A (6,803) N/A Checking Account BMO N/A -Revolving Account (3)- 212,363 (212,363) - N/A - N/A Checking Account BMO N/A -Sec. 125 Flex Spending Account (3)11,082 - (6,102) 4,980 N/A 4,980 N/A Checking Account BMO N/A - Pooled Cash Allocated to SA (3,625) 2,162 - (1,463) N/A (1,463) N/A TOTAL BANK DEPOSITS 3,661,565 8,512,154 (6,765,707) 5,408,012 5,408,012 PETTY CASH 4,290 - - 4,290 N/A 4,290 N/A CITY -
TOTAL DEPOSITS AND INVESTMENTS 119,209,003$ 20,565,284$ (24,053,666)$ 115,720,621$ 115,285,542$ https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
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 DECEMBER 2023
Dollar Amount Invested
(As of January 15, 2024)
SUCCESSOR AGENCY:
BMO Business Checking Account (2) (3)16,894$ -$ -$ 16,894$ N/A 16,894$ 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
390,824 1,690 - 392,514 N/A 392,514 5.250% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 407,718 1,690 - 409,408 409,408 Pooled Cash Account 3,625 - (2,162) 1,463 N/A 1,463 N/A
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 411,343$ 1,690$ (2,162)$ 410,871$ 410,871$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 119,620,346$ 20,566,974$ (24,055,828)$ 116,131,492$ 115,696,413$ 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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. Market value and interest rate are estimates based on the preceding month's data.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.Interest rates and market values are provided on the monthly trustee, custody, investment, and investment pool statements and websites. https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
ACTUAL BUDGET
Fiscal Year Reporting FY 2023-24 Fiscal Year
2022-23 Month To Date 2023-24
Beginning Cash Balance 259,470$ 367,628$ 338,025$ 338,025$ Receipts:
SLESF Funding 196,933 30,936 185,694 200,000 Interest 9,186 - 3,458 7,800 Total Receipts 206,119 30,936 189,152 207,800 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (110,000) (23,101) (150,000) (150,000) Equipment Leases / Purchases (11,795) (983) (3,932) (49,000) Total Expenditures/Allocations (121,795) (24,084) (153,932) (199,000) Net Adjustment (Receivables & Payables)(5,769) - 1,235 - Ending Cash Balance 338,025$ 374,480$ 374,480$ 346,825$ ACTUAL
(As of January 15, 2024)
TREASURER'S REPORT FOR THE MONTH OF DECEMBER 2023
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND - FUND NO. 050
STATEMENT OF RECEIPTS, ALLOCATIONS AND EXPENDITURES
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-12
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 https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 23-11
Carrying Cost Plus
Description Accrued Interest Purch. Amortized Cost Fair Value Accrued Interest United States Treasury:
Bills 26,992,679,410.54$ 27,341,582,810.63$ 27,352,122,000.00$ NA Notes 68,988,369,285.87$ 68,970,726,643.78$ 68,066,367,000.00$ 380,047,413.50$ Federal Agency:
SBA 273,825,056.61$ 273,825,056.61$ 273,117,626.86$ 1,326,636.53$ MBS-REMICs 2,164,861.02$ 2,164,861.02$2,133,161.33$ 9,501.16$ Debentures 8,533,332,561.10$ 8,532,907,561.09$ 8,460,384,650.00$ 60,973,579.20$ Debentures FR -$-$ -$-$
Debentures CL 650,000,000.00$ 650,000,000.00$ 639,238,500.00$ 4,456,111.50$ Discount Notes 21,584,982,812.45$ 21,861,271,194.36$ 21,856,617,000.00$ NA Supranational Debentures 2,819,756,450.14$ 2,819,512,700.14$ 2,788,881,800.00$ 20,848,175.60$ Supranational Debentures FR -$-$ -$-$
CDs and YCDs FR -$-$ -$-$
Bank Notes -$-$-$
CDs and YCDs 12,200,000,000.00$ 12,200,000,000.00$ 12,207,619,357.44$ 162,478,416.67$ Commercial Paper 9,014,594,527.68$ 9,116,638,444.29$ 9,117,150,756.95$ NA Corporate:
Bonds FR -$-$ -$-$
Bonds 566,929,562.48$ 566,697,340.26$ 551,864,240.00$ 3,944,225.38$ Repurchase Agreements -$-$ -$-$
Reverse Repurchase -$-$ -$-$
Time Deposits 5,284,000,000.00$ 5,284,000,000.00$ 5,284,000,000.00$ NA PMIA & GF Loans 325,717,000.00$ 325,717,000.00$ 325,717,000.00$ NA TOTAL 157,236,351,527.89$ 157,945,043,612.18$ 156,925,213,092.58$ 634,084,059.54$ Fair Value Including Accrued Interest 157,559,297,152.12$ Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost).
The value of each participating dollar equals the fair value divided by the amortized cost (0.993543131).
As an example: if an agency has an account balance of $20,000,000.00, then the agency would report its participation in the LAIF valued at $19,870,862.61 or $20,000,000.00 x 0.993543131.
State of California
Pooled Money Investment Account
Market Valuation
12/31/2023
-10-
TYPE OF SECURITY AMOUNT ($)
*PERCENT OF
PORTFOLIO
*DIFFERENCE IN
PERCENT OF
PORTFOLIO FROM
PRIOR MONTH
Government
Bills 26,992,679 17.08 +0.68
Bonds 0 0.00 0
Notes 69,743,761 44.14 -0.04
Strips 0 0.00 0
Total Government 96,736,440 61.22 +0.64
Agency Debentures 12,276,914 7.78 -0.25
Certificates of Deposit 12,200,000 7.72 -0.37
Bank Notes 0 0.00 0
Repurchases 0 0.00 0
Agency Discount Notes 21,584,983 13.66 -0.35
Time Deposits 5,284,000 3.34 +0.06
GNMAs 0 0.00 0
Commercial Paper 9,014,595 5.71 +0.24
Remics 2,164 0.00 0
Corporate Bonds 566,930 0.36 +0.02
PMIA Loans 325,717 0.21 +0.01
GF Loans 0 0.00 0
Other 0 0.00 0
Reversed Repurchases 0 0.00 0
Total (All Types)157,991,743 100.00
*Percentages may be off due to rounding.
INVESTMENT ACTIVITY December 2023 November 2023
NUMBER AMOUNT ($)NUMBER AMOUNT ($)
Pooled Money 673 33,424,689 698 34,620,441
Time Deposits 38 1,401,000 76 2,495,000
Other 32 2,373,312 14 1,053,094
Total 743 37,199,001 788 38,168,535
PMIA Monthly Average Effective Yield (%)3.929 3.843
Year to Date Yield Last Day of Month (%)3.610 3.550
POOLED MONEY INVESTMENT ACCOUNT
Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio (Dollars In Thousands)
December 31, 2023
-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 November 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 $23.149 Schools and Community Colleges 27.688
Discretionary Participants 3.180
Total $54.017
Non-discretionary Participants 94.11%
Discretionary Participants:
Independent Public Agencies 5.75%
County Bond Proceeds and Repayment Funds 0.14%
Total 100.00%
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the Investment Report dated December 29, 2023, the November 30, 2023 book value of the Treasury Pool was approximately $54.017 billion, and the corresponding market value was approximately $51.406 billion.
An internal controls system for monitoring cash accounting and investment practices is in place. The Treasurer's Compliance Auditor, who operates independently from the Investment Officer, reconciles cash and investments to fund balances daily. The Compliance Auditor’s staff also reviews each investment trade for accuracy and compliance with the Board adopted Investment Policy. On a quarterly basis, the County’s outside independent auditor (External Auditor) reviews the cash and investment reconciliations for completeness and accuracy. Additionally, the External Auditor reviews investment transactions on a quarterly basis for conformance with the approved Investment Policy and annually accounts for all investments.
The following table identifies the types of securities held by the Treasury Pool as of November 30, 2023:
Type of Investment % of Pool
Certificates of Deposit 4.16
U.S. Government and Agency Obligations 67.33
Bank Acceptances 0.00
Commercial Paper 28.44
Municipal Obligations 0.05
Corporate Notes & Deposit Notes 0.02
Repurchase Agreements 0.00
Asset Backed Instruments 0.00
Other 0.00
100.00
The Treasury Pool is highly liquid. As of November 30, 2023, approximately 35.16% of the investments mature within 60 days, with an average of 757 days to maturity for the entire portfolio.
TreasPool Update
11/30/2023
ⴱ㌭
Investment Balance 11/30/23 54,017,461,246$
Market Value at 11/30/23 51,405,593,994$
Average Daily Balance 51,333,032,369$
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 170,042,094$
Earnings for the Past 12 Months 1,889,021,255$
Earnings Rate for the Month 4.02%
POOLED SURPLUS EARNINGS REPORT
NOVEMBER 30, 2023
SCHEDULE B
TREASURER POOLED SURPLUS
INVESTMENT PORTFOLIO
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