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 January 2024.
DATE: February 26, 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 January 2024 ......................................................... 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 43,888,459$ 9,830,212$ (4,111,241)$ 49,607,430$ 011 General Fund Capital Projects 16,675,663 190,893 (23,273) 16,843,283 012 Public Projects 11,352,715 131,085 - 11,483,800 999 Cash Clearing Unallocated Interest 1,068,022 368,010 (1,116,743) 319,289 RESTRICTED:
Development Impact/Other Fees (revenue/expenditure details attached) 024 Park Facilities 1,294,440 126,950 (453,190) 968,200 022 Public Facilities 24,596 7,835 - 32,431 026 Public Safety Facilities 28 110 - 138 028 Transportation Facilities 445 4,274 - 4,719 020 Public Arts 185,989 2,441 - 188,430 Other Funds
013 DOT Highway Relinquishment 3,406,029 38,110 (5,111) 3,439,028 015 Transportation Development Act (TDA) Article 3 (90,000) - - (90,000) 030 Grant Projects 804,365 88,721 (404,386) 488,700 037 Drug Rehabilitation Program 289,264 35,833 (52,574) 272,523 040 Public Educational Government (PEG) 921,917 - - 921,917 050 California COPS 374,480 8,513 (983) 382,010 070 Measure A Fund (206,454) - (12,393) (218,847) 090 Agency Fund/Refundable Deposits-Private Projects 1,876,871 142,263 (24,392) 1,994,742 100 Proposition A - Transportation 2,266,951 185,339 (49,557) 2,402,733 115 Measure M - Streets 3,059,972 273,173 (2,860) 3,330,285 125 Measure R - Streets 2,874,211 131,759 (29,315) 2,976,655 135 Proposition C - Streets 2,652,053 163,598 (102,523) 2,713,128 140 State Gas Tax - Streets 5,369,965 214,069 (105,452) 5,478,582 145 Road Maintenance and Rehabilitation Account (RMRA) 5,642,153 204,555 - 5,846,708 150 Air Quality Management District Fees 139,049 28,908 - 167,957 230 Sewer Reconstruction 316,278 - - 316,278 320 Measure W 3,390,263 859,763 (48,217) 4,201,809 510 Economic Development 2,805,614 1,071 (30,901) 2,775,784 530 Equipment Replacement 1,256,645 15,634 (34,887) 1,237,392 540 GIS Update 259,494 1,752 (1,500) 259,746 542 General Planning and Zoning Update 1,066,577 4,817 (160) 1,071,234 600 Building and Safety 422,022 52,056 (77,615) 396,463 602 Accessibility Compliance Fund 109,055 1,070 (1) 110,124 700 Debt Service - Public Facilities Corporation - 57,625 (57,625) - 710 Debt Service - Financing Authority 3,379 9,396 (40,548) (27,773) 720 Debt Service - 2021/2018 Transportation COPS 1,889 8 - 1,897 730 Debt Service - 2021 Pension Obligation Bonds (560) 155,338 - 154,778 900 Community Development Block Grant (CDBG) (193,635) 150 (86,781) (280,266) 910 HOME Investment Partnership (27,956) - (14,857) (42,813) 920 ARPA SLFRP Fund 1,869,244 - - 1,869,244 944 Parking District No. 1 (18,284) 4,227 (4,520) (18,577) Successor Housing Agency:
974 Low and Moderate Income Housing Asset Fund 589,413 6,711 (1,207) 594,917 TOTAL CITY OF BELLFLOWER 115,720,621$ 13,346,269$ (6,892,812)$ 122,174,078$ SUCCESSOR AGENCY:
RESTRICTED:
956 Successor Agency BUSD Trust -$ -$ -$ -$ 970 Redevelopment Obligation Retirement Fund 409,408 20,399 (15,001) 414,806 972 Successor Agency Administration Fund 1,463 15,000 (2,261) 14,202 TOTAL SUCCESSOR AGENCY 410,871$ 35,399$ (17,262)$ 429,008$ COMBINED TOTAL - CITY & SUCCESSOR AGENCY 116,131,492$ 13,381,668$ (6,910,074)$ 122,603,086$
CASH AND INVESTMENT BALANCES BY FUND
CITY OF BELLFLOWER AND BELLFLOWER SUCCESSOR AGENCY
(As of February 15, 2024)
TREASURER'S REPORT FOR THE MONTH OF JANUARY 2024
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
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 18,288.00 January 3, 2024 Park Fac Fee/8746 Burton 18,730.80 January 11, 2024 Park Fac Fee/17932 Balfern 36,576.00 January 11, 2024 Park Fac Fee/10490 Greenhurst 7,176.45 January 17, 2024 Park Fac Fee/16620 Grand 20,327.00 January 18, 2024 Park Fac Fee/15714 Cornuta 11,111.55 January 18, 2024 Park Fac Fee/16624 Grand 276,553.38$
Project Expenditures:
77,981.93$ Park Master Plan
510,881.46 Butterfly Garden Improvements
350,385.68 Thompson Park Improvements
939,249.07$
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 1,185.00 January 3, 2024 Public Fac Fee/8746 Burton 1,426.59 January 11, 2024 Public Fac Fee/17932 Balfern 2,370.00 January 11, 2024 Public Fac Fee/10490 Greenhurst 465.00 January 17, 2024 Public Fac Fee/16620 Grand 1,416.00 January 18, 2024 Public Fac Fee/15714 Cornuta 720.00 January 18, 2024 Public Fac Fee/16624 Grand 19,579.07$
Project Expenditures:
-$
-$
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2023 - January 31, 2024)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
DEVELOPMENT IMPACT/OTHER FEES
Revenue and Expenditure Detail Report
(July 1, 2023 - January 31, 2024)
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 108.90 January 11, 2024 Public Safety Fac Fee/17932 Balfern 136.95$
Project Expenditures:
-$
-$
TRANSPORTATION FACILITIES FEES
Revenues:
441.66$ July 26, 2023 Transportation Fac Fee/16000 Woodruff 4,268.88$ January 11, 2024 Transportation Fac Fee/17932 Balfern 4,710.54$
Project Expenditures:
-$
-$
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
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 24-01 - F602
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)9,125,524$ 5,598,372$ -$ 14,723,895$ N/A 14,628,825$ 4.012%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)3,486,281 10,770 - 3,497,051 N/A 3,369,746 4.170%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 53,681 4,004,397 - 4,058,078 N/A 4,058,078 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
1,889 9 - 1,898 N/A 1,898 5.230% Money Market Fund Dreyfus N/A -Dreyfus Treasury Securities Cash Management -
Institutional / 2021 Pension Obligation Bonds
1,560 155,338 - 156,898 N/A 156,898 5.230% 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
2,123,191 22,055 - 2,145,246 N/A 2,145,246 5.230% 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 2,999,070 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 3,000,210 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 2,994,690 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 2,996,040 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 2,981,700 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 2,974,140 3.000%U.S. Agency Bonds Federal Home Loan Bank 6/28/2024 -Federal Home Loan Bank 3,000,000 - (3,000,000) - - - 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 2,979,990 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 2,989,800 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 2,979,390 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 2,979,840 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 2,988,720 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 2,976,840 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 JANUARY 2024
Dollar Amount Invested
(As of February 15, 2024)
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
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 JANUARY 2024
Dollar Amount Invested
(As of February 15, 2024)
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,979,300 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 1,998,140 5.450%U.S. Agency Bonds Federal Home Loan Bank 12/12/2024 -Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 2,969,850 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) - - - 5.730%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 4/3/2025
-Federal Home Loan Mortgage Corporation 3,000,000 - - 3,000,000 3,000,000 3,000,000 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 2,988,210 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 4,999,650 5.400%U.S. Agency Bonds Federal Home Loan Bank 12/22/2025 -Federal Home Loan Bank 3,000,000 - (3,000,000) - - - 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 2,989,710 5.000%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 2,997,630 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 2,998,020 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 4,984,450 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 2,998,620 6.000%U.S. Agency Bonds Federal Home Loan
Mortgage Corporation 10/26/2027
-Dreyfus Treasury Securities Cash Management -
Institutional 13,453,000 9,352,843 (4,000,000) 18,805,843 N/A 18,805,843 5.230%Money Market Fund Dreyfus N/A
Charles Schwab Trust Bank
-Section 115 Pension Stabilization Trust
Investments / Mutual Funds 1,049,792 478 - 1,050,270 N/A 1,160,239 N/A Various Investments /
Mutual Funds
Various; Held by Charles
Schwab Trust N/A
Trust Cash 13,402 972 (517) 13,857 N/A 13,857 0.450%Trust Cash Account Charles Schwab Trust
Bank N/A
TOTAL INVESTMENTS 110,308,319 19,145,234 (13,000,517) 116,453,036 116,084,640 BANK DEPOSITS (2):
-General Operating Account (3)5,411,298 15,433,181 (15,143,335) 5,701,144 N/A 5,701,144 N/A Checking Account BMO N/A -Payroll Account (3)(6,803) 1,556,003 (1,552,722) (3,522) N/A (3,522) N/A Checking Account BMO N/A -Revolving Account (3)- 229,892 (229,892) - N/A - N/A Checking Account BMO N/A -Sec. 125 Flex Spending Account (3)4,980 28,351 - 33,331 N/A 33,331 N/A Checking Account BMO N/A - Pooled Cash Allocated to SA (1,463) - (12,738) (14,201) N/A (14,201) N/A TOTAL BANK DEPOSITS 5,408,012 17,247,427 (16,938,687) 5,716,752 5,716,752 PETTY CASH 4,290 - - 4,290 N/A 4,290 N/A CITY -
TOTAL DEPOSITS AND INVESTMENTS 115,720,621$ 36,392,661$ (29,939,204)$ 122,174,078$ 121,805,682$ https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
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 JANUARY 2024
Dollar Amount Invested
(As of February 15, 2024)
SUCCESSOR AGENCY:
BMO Business Checking Account (2) (3)16,894$ 18,650$ (15,000)$ 20,544$ N/A 20,544$ 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
392,514 1,749 - 394,263 N/A 394,263 5.230% Money Market Fund Dreyfus N/A TOTAL INVESTMENTS 409,408 20,399 (15,000) 414,807 414,807 Pooled Cash Account 1,463 12,738 - 14,201 N/A 14,201 N/A
SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 410,871$ 33,137$ (15,000)$ 429,008$ 429,008$
CITY & SUCCESSOR AGENCY -
TOTAL DEPOSITS AND INVESTMENTS 116,131,492$ 36,425,798$ (29,954,204)$ 122,603,086$ 122,234,690$ 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 $250,000 by the FDIC. Under the California Government Code, banks and savings are also required to secure the City's deposits by either (1) pledging government securities with market value of at least 110% of the deposits as collateral, or (2) pledging first trust deed mortgage notes having a value of at least 150% of the deposits. Bank deposits, CDs and money market account market values are the same as the carrying values. (3)Analysis account.
(4)CalTRUST is a joint powers authority formed by a number of public agencies in California to provide a method of pooling for investment purposes. (5)Los Angeles County Pooled Investment Fund is an investment pool managed by the L.A. County Treasurer. Market value and interest rate are estimates based on the preceding month's data.
A.The City's investment portfolio complies with the Statement of Investment Policy.
B.Based on the City's current cash and investment position and estimated cash flows, the City will meet its expenditure requirements for the next six months.
C.Interest rates and market values are provided on the monthly trustee, custody, investment, and investment pool statements and websites. https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602
ACTUAL BUDGET
Fiscal Year Reporting FY 2023-24 Fiscal Year
2022-23 Month To Date 2023-24
Beginning Cash Balance 259,470$ 374,480$ 338,025$ 338,025$ Receipts:
SLESF Funding 196,933 4,470 190,164 200,000 Interest 9,186 4,043 7,501 7,800 Total Receipts 206,119 8,513 197,665 207,800 Expenditures/Allocations:
L.A. County Sheriff's Department/
City Public Safety
General Law Cars (110,000) - (150,000) (150,000) Equipment Leases / Purchases (11,795) (983) (4,915) (49,000) Total Expenditures/Allocations (121,795) (983) (154,915) (199,000) Net Adjustment (Receivables & Payables)(5,769) - 1,235 - Ending Cash Balance 338,025$ 382,010$ 382,010$ 346,825$ ACTUAL
(As of February 15, 2024)
TREASURER'S REPORT FOR THE MONTH OF JANUARY 2024
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 24-01 - F602
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
https://bellflowergcc.sharepoint.com/sites/fin/Shared Documents/AA/Treasurer's Reports/TR 24-01 - F602 ⴱ〭
-11-
-12-
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 December 31, 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 $28.167 Schools and Community Colleges 28.441
Discretionary Participants 3.909
Total $60.517
Non-discretionary Participants 93.54%
Discretionary Participants:
Independent Public Agencies 6.34%
County Bond Proceeds and Repayment Funds 0.12%
Total 100.00%
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the Investment Report dated January 31, 2024, the December 31, 2023 book value of the Treasury Pool was approximately $60.517 billion, and the corresponding market value was approximately $58.314 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 December 31, 2023:
Type of Investment % of Pool
Certificates of Deposit 3.64
U.S. Government and Agency Obligations 68.13
Bank Acceptances 0.00
Commercial Paper 28.16
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 December 31, 2023, approximately 36.26% of the investments mature within 60 days, with an average of 670 days to maturity for the entire portfolio.
TreasPool Update
12/31/2023
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