As to the status of the City owned Olive Pit, CA Mine ID# 91-19-0052:
The start of construction for the traffic signal at Los Angeles Street and the Olive Pit Driveway is scheduled for February 2023. United Rock Products, is in the process of securing the material and signal equipment and anticipates completion of this traffic signal by June 2023. The traffic signal at the intersection of Azusa Canyon Road and Los Angeles Street has been delayed due to staff changes from all agencies involved in the approval of the design and construction of this traffic signal. United continues to work with its consultants and the various agencies on completing this signal and anticipates a start for the project in late 2023.
Fiscal Impact:
None
01005.0020/815869.1 Page3
RA Item 1C
DCity Council
DSuccessor Agency
D Housing Authority
myef I IRWINDALE,___ ___ ___,
0 Reclamation Authority
DJoint Powers Authority
AGENDA REPORT
Date: December 14, 2022
To: Honorable Chair and Members of the Reclamation Authority Board From: Julian A. Miranda, City Manager/Executive Director Issue: Investment Quarterly Report for Fiscal Quarter Ending September 30, 2022.
City Manager/Executive Director's Recommendation:
That the Reclamation Authority Board receive and file the Investment Quarterly Report for the fiscal quarter ending September 30, 2022.
Administrative Action:
Submitted & Prepared by:
Kambiz Borhani
Authority Finance Director/ Authority Treasurer
(626) 430-2221
Reviewed by:
Adrian R. Guerra, City Attorney/General Counsel
Kambiz Borhani
Authority Finance Director/ Authority Treasurer
Approved by:
Julian A, Miranda, City Manager/Executive Director
Electronically Approved
7
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 September 30, 2022, was presented to the City Council, Housing Authority, and Successor Agency Board on October 26, 2022. The Reclamation Authority Board 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 September 30, 2022, for each agency. The City of lrwindale's balances include investments of all funds of the City and its agencies, including the Reclamation Authority, which are pooled to maximize the interest yield. The cash balances in the general and money market accounts 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 - September 30, 2022 Page2
CITY OF IRWINDALE
INVESTMENT REPORT
September 30, 2022
PAR VALUE I CURRENT PURCHASE MATURITY MKTVALUE/ INVESTMENT SECURITY DESCRIPTION ORIGINAL YIELD TO ENDING
COST MATURITY DATE DATE BALANCE RATINGS
CITY OF IBl!'llt:!DALE (POOLED· ALL FUNDS, lt:!CLYDING RECLllM/lTIQt:! /lUTHORITYl BANK OF THE WEST GENERAL ACCOUNT $ 2,214,630 0.36o/o $ 2,214,630 WELLS FARGO BANK MONEY MARKET ACCOUNT $ 100,000 2.42o/o $ 270,677 LOCAL AGENCY INVESTMENT FUND (LAIF) $ 48, 724,407 1.35o/o $ 47,788,997
US GOVERNMENT AGENCIES
FEDERAL HOME LN BKS CONS SD (FHLB) $ 5,000,000 0.52% 07/26/21 01/28125 $ 4,557,100 Aaa/AA+ FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 5,000,000 0.58% 06/23/21 06/23/25 4,499,400 AaalAA+ FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 3,000,000 0.90% 06/15/21 06115/26 2,639,100 Aaa/AA+ FEDERAL HOME LN BKS CONS BD (FHLB) 5,000,000 1.00% 06/30/21 06/26/26 4,403,300 Aaa/AA+ FEDERAL HOME LN BKS CONS BO (FHLB) 5,000,000 0,50o/o 06/30/21 06/30/26 4,384,800 Aaa/M+ FEDERAL FARM CR BKS CONS SYSTEMWIDE (FFCB) 5,000,000 0.87% 07/28/21 07128126 4,377,850 Aaa/AA+ FEDERAL HOME LN BKS (FHLB) 5,000,000 0.50% 07/29/21 07/29/26 4,389,150 Aaa/ AA+ FEDERAL HOME LN BKS CONS BD (FHLB) 1,000,000 3.42°/o 08/29/22 11/15/24 931,393 Aaa/AA+ FEDERAL HOME LN BKS CONS BO (FHLB) 1,000,000 3.45% 08/29/22 12127124 931,899 Aaa I AA+ FEDERAL HOME LN BKS CONS BO (FHLB) 1,000,000 3.28°/o 08/29/22 02/22/24 908187 Aaa I AA+ Sub-Total US Government Agencies: $ 36,000,000 $ 32,021,979
MUNICIPAL BONDS
CALIFORNIA STATE TAXABLE $ 1,000,000 3.35o/o 08/30/22 04/01/24 $ 981,909 Aa2 /AABAY AREA CALIFORNIA TOLL AUTHORITY 1,000,000 3.50% 08/30/22 04/01/25 947686 Aa3/ AA Sub-Total Municipal Bonds: $ 2,000,000 $ 1,929,495
CERTIFICATES OF DEPOSIT
BANK OF CHINA $ 245,000 3.159 % 09/31/22 02/29/24 $ 241,433 FDIC Insured JP MORGAN CHASE BANK 245,000 3.40% 08/31/22 06/30/24 241,028 FDIC Insured APEX BANK 245,000 3.153 % 08/31/22 08/30/24 239,882 FDIC Insured UBS BANK USA 245,000 3.40 o/o 08/31/22 09/02/25 238,644 FDIC Insured AMERICAN EXPRESS NATIONAL BANK 245,000 3.35% 08/31/22 09/02/25 238,347 FDIC Insured COMMUNITY BANK OF THE BAY 245,000 3,50% 06/31/22 08/31/27 234,989 FDIC Insured CAPITAL ONE BANK USA 245,000 3.45% 08/31/22 08/31/27 234,476 FDIC Insured CAPITAL ONE NATIONAL ASSN VA 245,000 3.46% 08/31/22 06/31/27 234,476 FDlC Insured ALLY BANK 246,000 3.35% 09/01/22 09/01/26 236,278 FDIC Insured SYNCHRONY BANK 245,000 3.45% 09/02122 09/02/27 234,470 FDIC Insured CUSTOMERS BANK 245,000 3,00% 09/06122 09/00/23 242,536 FDIC Insured MEDALLION BANK 245,000 3.25% 09/07/22 09/06/25 237,597 FDIC Insured BMO HARRIS BANK 245,000 3.15 % 09/09/22 03/11/24 241,357 FDIC Insured OR BANK 245,000 3,60% 09/09/22 09/09/28 238,393 FDIC Insured SAFRA NATIONAL BANK 245,000 3.05% 09/09/22 10/10/23 242,300 FDIC Insured MORGAN STANLEY BANK 245,000 3.45 % 09/09/22 09/09/27 234,468 FDIC Insured MORGAN STANLEY BANK 245,000 3.45 % 09/09/22 09/09/27 234,488 FDIC Insured TRADITIONAL CAPITAL BANK 245,000 3.30%1 09/14/22 03/13/28 236,806 FDIC Insured PONCE BANK 245,000 3.35% 09/14/22 09/14/27 233,212 FDIC Insured FIRST NATIONAL BANK 245 000 3.45 o/o 09/19/22 09/20/27 234 314 FDIC Insured Sub-Total Certificates of Deposit: $ 4,900,000 $ 4,749,449 Total City of Irwindale Investments {Poored Funds): $ 93,939,038 $ 88,973,227 HOUSING AUTHORITY (Funds 11 & 12}
BANK OF THE WEST GENERAL ACCOUNT $ 2,063,774 0,36% $ 2,083,774 LOCAL AGENCY INVESTMENT FUNO (LAIF) 5 639 549 1.35% 5 569 673 $ 7,703,323 $ 7,633,447
SUCCESSOB ll!i!&NCY (Funds 50-66)
BANK OF THE WEST MONEY MARKET ACCOUNT $ (1,833, 169) 0,36o/o $ (1,833,189) LOCAL AGENCY INVESTMENT FUND (LAIF) 10 748 524 1,35o/o 10 639 771 $ 8,913,355 $ 8,706,602
GRAND TOTAL OF INVESTMENTS $110.S56,716 $ 106.313.276
Thls Investment portfolio ls In conformity with the Clty of lrwlndale1s Investment Policy which was approved by City Councll on June 8, 2022.
The City Treasurer's cash management program and cash flow analysis Indicates that sufficient !iquid!ty Is on hand to meet estimated future e-xpendltures for a period of six months. The weighted average of maturity of the City's pooled Investment portfolio is 1.22 years, and the weighted average yield of the City's pooled Investments at cost is 1.29%. Market prices of securities are obtained directly through Bank Statements. Due to timing, Bank of the West General Account balances are pre-reconciled and yield rates are based on the prior month's account analysis statement Approved by c(;U-__. Kambiz Borhani, Finance Director 1 City Treasurer