Background and Analysis:
The table below summarizes the 2022 second quarter estimated mining production of five (5) pits governed by the Surface Mining and Reclamation Act of 1975 (SMARA Pits) currently conducting mining activity in the City.
Mine Site Estimated Production Estimated Remaining
March 2022 through Reserve (Tons)
Mav 2022 (Tons)
Lehiqh Hanson Pit 690,896 53,068,223
Peck Road Gravel Pit 13,000 212,000
Vulcan Reliance I 390,454 24,398,212
Vulcan Durbin 627,122 31,410,578
Olive Pit 515,768 30,086,415
A total of approximately 2,237,240 tons of material were produced during the reporting period, March 2022 through May 2022, from the five (5) SMARA Pits listed above. This is approximately 334, 197 tons more than reported in the previous quarter.
Below is a summary of the second quarter and current activity of the remaining four (4) SMARA Pits in the City.
Mine Site Status Activity
United Pit No. 2 Under Reclamation Fill Operations for Mine Reclamation
United Pit No. 3 Under IMP Review* Inactive
United Pit No. 4 Active Processing Plant
Azusa Western Pit Idle (IMP) Inactive
*United Pit No. 3 applied for an Interim Management Plan (IMP), which is currently under review. Thus, no production was reported and it is estimated that 370,470 tons of reserves remain for future mining.
During the 2022 second quarter reporting period, reclamation activity was reported from three (3) SMARA Pits. Following is a summary of the reclamation activity at these three SMARA Pits:
Mine Site Estimated Fill Placed
March 2022 through May 2022 (C.Y.)
Lehigh Hanson Pit No Fill Placed - Preparation for next phase United Pit No. 2 260,724
Vulcan Durbin Pit 218,800
Page2
As to the status of the City owned Olive Pit, CA Mine ID# 91-19-0052:
The mining operator, United Rock Products, has reengaged with its traffic engineer to review the traffic signal plan for the intersection of Los Angeles Street and Azusa Canyon Road and reinstated negotiations with SCRRA-Metrolink. Negotiations for the easements needed for pedestrian crossing at the railroad crossing have also been reinitiated. Drainage and erosion control plans, as required by the Development Agreement are currently under review, in addition a wheel washing system that complies with the Air Quality Mitigation District's requirements to improve dust control at the site, has been installed.
Fiscal Impact:
None
DCity Council
D Successor Agency
D Housing Authority
181 Reclamation Authority
DJoint Powers Authority
Date: June 8, 2022
Cityef
IRWINDALE
AGENDA REPORT
To: Reclamation Authority Board
RA Item 1D
From:
Issue:
Julian A. Miranda, City Manager/Executive Director
Investment Quarterly Report for March 31, 2022.
City Manager/Executive Director's Recommendation:
For the Reclamation Board to receive and file the Investment Quarterly Report for March 31, 2022.
Administrative Action:
Submitted by:
Kambiz Borhani
Authority Finance Director/ Authority Treasurer
(626) 430-2221
Prepared by:
Jeanette Duran
Finance Manager
Reviewed by:
Adrian R. Guerra, City Attorney/Authority Counsel
Kambiz Borhani
Authority Finance Director/ Authority Treasurer
Approved by:
Julian A, Miranda, City Manager/Executive Director
Electronically Approved
Electronically Approved
Background and Analysis:
California Government Code Section 53646 requires that the City Treasurer submit a quarterly report of investments (Investment Report) to the City Council/Board Members for review and compliance with the City's adopted investment policy (City's Investment Policy).
The City's Investment Policy applies to all funds held by the City, Housing Authority, Successor Agency, and Reclamation Authority. The Reclamation Authority's funds are included in the City's cash and investment balances. The Investment Report for the quarter ending March 31, 2022 was presented to the City Council, Housing Authority, and Successor Agency Board on April 27, 2022. The Reclamation Authority was not scheduled to meet on that date, and therefore it is appropriate to present the same Quarterly Investment Report to the Reclamation Authority during their next regularly scheduled meeting.
The attached Investment Report summarizes the cash balances and investments as of March 31, 2022 for each agency. The City of lrwindale's balances include investments of all funds of the City and its agencies, which are pooled to maximize the interest yield. The cash balances in the general account with Bank of the West also include all funds of the City and its agencies, which also earn interest on the pooled cash balances. All investments comply with the City's Investment Policy.
Fiscal Impact:
There is no fiscal impact to receive and file this report.
Attachment:
City of Irwindale Investment Report- March 31, 2022
Page2
DESCRIPTION OF SECURITY
CITY OF IRWINDALE
INVESTMENT REPORT
March 31, 2022
PARVALUEI
ORIGINAL
COST
CURRENT
YIELD TO
MATURITY
PURCHASE MATURITY
DATE DATE
CITY OF IRWINDALE {POOLED· ALL FUNDS, INCLUDING R!;CLAMATION AUTHORITY} BANK OF THE WEST GENERAL ACCOUNT $ 4,600,665 0.36%
LOCAL AGENCY INVESTMENT FUND (LAIF) 46,498,252 0.37%
US GOVERNMENT AGENCIES
FEDERAL HOME LN BKS CONS BD (FHLB) 5,000,000 0.52% 07128121 01128125 FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 5,000,000 0.58% 06123121 06123125 FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 3,000,000 0.90% 06115121 06115126 FEDERAL HOME LN BKS CONS BD (FHLB) 5,000,000 1.00o/o 06130121 06126126 FEDERAL HOME LN BKS CONS BD (FHLB) 5,000,000 0.50% 06130121 06130126 FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 5,000,000 0.87% 07128121 07128126 FEDERAL HOME LN BKS (FHLB) 5 000 000 0.50% 07129121 07129126 Sub~Total US GovammantAgancies: 33,000,000
CERTIFICATES OF DEPOSIT
FIRST ST BANK (FRSTE) 240,000 2.00% 06130117 04129122
BRIDGEWATER BK (BRDGW) 240,000 2.00% 06/29117 06/29/22
MARLIN BUSINESS BK (MRLN) 240,000 2.05% 06129117 06129122 COMENITY CAP BK (ADSK) 240 000 2.25°k 06130117 06130122 Sub~Total Certificates of Deposit: 960,000
Total City of Irwindale Investments (Pooled Funds): 85,258,917 HOUSING AUTHORITY {Funds 11 !fi 1il
BANK OF THE WEST GENERAL ACCOUNT 181,938 0.36% ..
LOCAL AGENCY INVESTMENT FUND (LAIF) 7 669 316 0.37%
7,851,254
SUCCESSOB AGENCY {Funds 5Q-66}
BANK OF THE WEST GENERAL ACCOUNT 164,226 0.36%
LOCAL AGENCY INVESTMENT FUND (LAIF) 13,472,919 0.37%
13,637,144
GRAND TOTAL OF INVESTMENTS 106,747,315
$
MARKET
VALUE
4,800,665
$ 46,498,252
4,739,450
4,684,400
2,812,560
4,701,900
4,699,400
4,688,850
4 743 350
31,069,910
240,300
240,919
240,946
241 078
963,245
83,332,071
181,938
7,669,316
7,851,254
164,226
13,472,919
13,637,144
104,620,470
INVESTMENT
RATING
AAA
AA+
AAA
AAA
AAA
AAA
AAA
This Investment portfolio is ln conformity with the City of lrwindale's Investment Polley which was approved by City Council on June 9, 2021.
The City Treasurer's cash management program and cash flow analysis indicates that sufficient liquidity is on hand to meet estimated future expenditures for a period of six months. The weighted average of maturity of the City's pooled Investment portfolio is 1.21 years, and the weighted average yield of the City's pooled investments at cost is 0.479%. Market prices of securities are obtained directly through Bank of the West. Due to timing, Bank of the West General Account balances are pre~reconciled and yield rates are based on the prior month account analysis statement.
Jeanette Duran, Interim Finance Director/City Treasurer