1 TO: City Council
FROM: Ryan Smoot, City Manager
PREPARED BY: Susan Kamada, Administrative Services Director MEETING DATE: February 21, 2023
SUBJECT: December 2022 Treasury and Investment Report
RECOMMENDATION
Receive and file the Treasury and Investment Report.
BACKGROUND
Pursuant to Section 41004 of the Government Code of the State of California, the City Treasurer is required to submit a monthly report of all receipts, disbursements and fund balances. The first page of the report provides a summary of the beginning balance, total receipts, total disbursements, ending balance for all funds, and a listing, by fund, of all month end fund balances. The second page of the report summarizes the investment activity for the month and distribution by type of investment, held by the City. The third page lists all investments with original maturities exceeding one year as of the month ended December 31, 2022.
In summary, all investments of the City of Lomita are in compliance with both the Government Code and our Investment Policy. In addition, the City has sufficient liquidity to meet its expenditure requirements for the ensuing six months.
12.20% of the City’s funds are with the State of California Local Agency Investment Fund (LAIF). The remaining funds of the City of Lomita are in active checking accounts, money market funds, U.S. Treasuries, Federal Agency Securities, Corporate Bonds, and FDIC-insured Negotiable Certificates of Deposit that are in compliance with the California Government Code and the City’s Investment Policy. The current value of each account is obtained from actual monthly statements for the period ending December 31, 2022.
Item No. 7i
CITY OF LOMITA
CITY COUNCIL REPORT
2 OPTIONS:
None, information only.
FISCAL IMPACT
None.
ATTACHMENT
1. Treasury and Investment Report for December 2022
Reviewed by: Approved by:
____________________________
Gary Y. Sugano Ryan Smoot
Assistant City Manager City Manager
Prepared by:
__________________________
Susan Kamada
Administrative Services Director
City of Lomita
Investment Portfolio Report December 31, 2022
Summary of Investments Book Value Market Value Interest Earned Gain (Loss) on
Investment
Local Agency Investment Fund (LAIF) 3,210,023.14 3,210,023.14 0.00 0.00 Certificate of Deposit - Negotiable 11,457,000.00 10,760,613.00 19,015.65 0.00 Federal Agency Securities 4,500,000.00 4,190,445.00 9,987.50 0.00 Commerical Paper 2,000,000.00 1,722,460.00 0.00 0.00
US Treasuries 1,500,000.00 1,477,965.00 0.00 0.00
Total Pooled Investments 22,667,023.14 21,361,506.14 29,003.15 0.00 City of Lomita General Account DDA 3,640,981.56 3,640,981.56 0.00 0.00 Total Cash 3,640,981.56 3,640,981.56 0.00 0.00
Total Cash & Investments 26,308,004.70 25,002,487.70 29,003.15 0.00 City of Lomita
Distribution of Pooled Cash Book Value % Split
Local Agency Investment Fund (LAIF) 3,210,023.14 12.20% MTD YTD Certificate of Deposit - Negotiable 11,457,000.00 43.55% Jul-22 9,063.33 9,063.33 Federal Agency Securities 4,500,000.00 17.11% Aug-22 23,738.87 32,802.20 Commerical Paper 2,000,000.00 7.60% Sep-22 47,967.12 80,769.32 US Treasuries 1,500,000.00 5.70% Oct-22 27,178.53 107,947.85 Cash on Hand 3,640,981.56 13.84% Nov-22 24,490.25 132,438.10 Total Cash & Investments 26,308,004.70 87.80% Dec-22 29,003.15 161,441.25 Jan-23 - 161,441.25
Feb-23 - 161,441.25
Mar-23 - 161,441.25
Apr-23 - 161,441.25
May-23 - 161,441.25
Jun-23 - 161,441.25
161,441.25 161,441.25
Month to Date & Fiscal Year to Date
Interest Earned/ Gain (Loss) on Total Investments
Local Agency
Investment
Fund (LAIF)
Certificate of
Deposit -
Negotiable
Federal Agency
Securities
Commerical
Paper
US Treasuries
Cash on Hand
Attachment No. 1
City of Lomita
Investment Portfolio Report December 31, 2022
Account/ Investment Title & Description Account #/
CUSIP
Settlement
Date
Maturity
Date
Yield to
Maturity
Beginning Face
Amount/Shares
Beginning
Market Value
Buy
Principal
Sell
Principal
Change in
Market Value
Current
MP
Ending Market
Value
Ending Face
Amount/Shares
Interest
Earned /
(Accrued)
Realized Gain
/(Loss) On
Investment
Local Agency Investment Fund (LAIF)
City of Lomita XX-XX-469 N/A 2.173% 3,210,023.14 3,210,023.14 - - 100.0000 3,210,023.14 3,210,023.14 - - Sub Total / Average 2.173% 3,210,023.14 3,210,023.14 - - - 100.00 3,210,023.14 3,210,023.14 - - Certificate of Deposit - Negotiable
PCSB Bank 69324MAL9 02/21/20 02/21/24 1.650% 248,000.00 238,633.04 - - 1,143.28 96.6840 239,776.32 248,000.00 Third Federal S & L Assn 88413QDA3 08/13/21 08/13/24 0.500% 249,000.00 231,306.06 - - 1,832.64 93.6300 233,138.70 249,000.00 Raymond James Bank NA 75472RBB6 02/14/20 02/14/25 1.750% 248,000.00 231,731.20 - - 2,108.00 94.2900 233,839.20 248,000.00 Lafayette FCU 50625LAY9 03/31/22 03/31/25 2.200% 249,000.00 234,117.27 - 2,148.87 94.8860 236,266.14 249,000.00 450.25 JPMorgan Chase Bank NA 48128WCJ2 12/03/21 05/16/25 0.800% 248,000.00 224,588.80 - - 2,415.52 91.5340 227,004.32 248,000.00 Institution for Savings Newburyport MA 45780PBL8 05/20/22 05/20/25 3.100% 247,000.00 236,623.53 - - 2,067.39 96.6360 238,690.92 247,000.00 629.34 Axiom Bank Maitland FL 05464LBR1 11/30/21 06/13/25 0.700% 249,000.00 224,027.79 - - 2,502.45 90.9760 226,530.24 249,000.00 143.26 Bank of Princeton 064520BE8 06/26/20 06/26/25 0.600% 210,000.00 188,176.80 - - 2,142.00 90.6280 190,318.80 210,000.00 112.48 Flushing Bank 34387AFF1 11/04/22 11/04/25 4.700% 249,000.00 247,632.99 - 2,171.28 100.3230 249,804.27 249,000.00 961.89 Bankunited NA 066519RX9 12/08/21 12/08/25 1.250% 248,000.00 222,731.28 - - 2,710.64 90.9040 225,441.92 248,000.00 772.88 USAlliance FCU 90352RCD5 01/28/22 01/28/26 1.350% 249,000.00 222,311.68 - 4,830.10 91.2216 227,141.78 249,000.00 Pentagon FCU 70962LBK7 03/28/22 03/30/26 2.050% 249,000.00 227,337.00 - 2,674.26 92.3740 230,011.26 249,000.00 419.55 Kansas State Bank 50116CCV9 03/31/22 03/31/26 2.300% 249,000.00 229,234.38 - 2,654.34 93.1280 231,888.72 249,000.00 486.40 Nelnet Bank 64034KAC5 04/15/21 04/15/26 0.700% 248,000.00 216,062.56 - - 2,829.68 88.2630 218,892.24 248,000.00 Community West Bank NA 20415QHQ5 04/23/21 04/23/26 0.700% 248,000.00 215,606.24 - - 2,847.04 88.0860 218,453.28 248,000.00 142.68 State BK India New York NY 856285VS7 05/19/21 05/19/26 1.000% 247,000.00 216,749.91 - - 2,783.69 88.8800 219,533.60 247,000.00 Toyota Financial Savings Bank 89235MLD1 07/22/21 07/22/26 0.950% 248,000.00 215,881.52 - - 2,809.84 88.1820 218,691.36 248,000.00 Medallion BK Salt Lake City 58404DLD1 07/30/21 07/30/26 0.800% 248,000.00 214,475.36 - - 2,827.20 87.6220 217,302.56 248,000.00 Sallie Mae Bank 795451AK9 08/11/21 08/11/26 1.100% 248,000.00 216,702.40 - - 2,790.00 88.5050 219,492.40 248,000.00 Metro Credit Union 59161YAN6 02/18/22 08/18/26 1.600% 249,000.00 221,415.78 2,753.94 90.0280 224,169.72 249,000.00 327.45 Texas Exchange Bank 88241TML1 11/26/21 11/27/26 1.200% 249,000.00 216,089.67 - 2,791.29 87.9040 218,880.96 249,000.00 245.59 Beal Bank USA 07371CH69 03/02/22 02/24/27 2.050% 248,000.00 221,553.28 2,849.52 90.4850 224,402.80 248,000.00 Capital One Bank USA NA 14042TFP7 04/27/22 04/27/27 2.900% 248,000.00 228,804.80 - - 2,891.68 93.4260 231,696.48 248,000.00 Morgan Stanley Bank 61773TDN0 04/29/22 04/29/27 3.000% 246,000.00 227,941.14 - - 2,860.98 93.8220 230,802.12 246,000.00 Discover Bank 254673G83 06/14/22 06/14/27 3.150% 246,000.00 228,885.78 - - 2,937.24 94.2370 231,823.02 246,000.00 3,885.11 The Dart Bank 237412AN1 06/08/22 06/15/27 3.250% 249,000.00 232,575.96 - - 3,005.43 94.6110 235,581.39 249,000.00 665.14 Forbright Bank 34520LAT0 11/02/22 11/02/27 4.600% 249,000.00 245,780.43 - 3,241.98 100.0090 249,022.41 249,000.00 941.42 Alliant Credit Union 01882MAC6 12/30/22 12/30/27 5.000% - 248,000.00 4,426.80 101.7850 252,426.80 248,000.00 Goldman Sachs Bank USA 38148PN52 05/30/18 05/30/23 3.250% 245,000.00 243,451.60 - - 563.50 99.5980 244,015.10 245,000.00 Austin TelCo FCU 052392BK2 08/12/22 08/11/23 3.200% 249,000.00 246,522.45 - 652.38 99.2670 247,174.83 249,000.00 654.90 Wells Fargo Bank 949763ZA7 04/18/19 04/10/24 2.850% 245,000.00 238,568.75 - - 1,031.45 97.7960 239,600.20 245,000.00 573.90 Live Oak Bkg Co 538036HY3 02/12/20 08/12/24 1.700% 245,000.00 232,291.85 - - 1,590.05 95.4620 233,881.90 245,000.00 342.33 Capital One Natl Assn 14042RNE7 08/23/19 08/21/24 2.000% 245,000.00 233,384.55 - - 1,565.55 95.8980 234,950.10 245,000.00 Morgan Stanley Private Bk Natl Assn 61760AX53 09/05/19 09/05/24 1.900% 100,000.00 94,997.00 - - 664.00 95.6610 95,661.00 100,000.00 Synchrony Bank 87165FF58 11/30/21 11/29/24 0.850% 245,000.00 226,127.65 - - 2,092.30 93.1510 228,219.95 245,000.00 Enerbank USA Salt 29278TMZ0 02/14/20 02/14/25 1.650% 245,000.00 228,308.15 - - 2,102.10 94.0450 230,410.25 245,000.00 332.26 Merrick Bank 59013KQE9 11/30/21 05/30/25 0.900% 245,000.00 221,930.80 - - 2,405.90 91.5660 224,336.70 245,000.00 181.23 Spokane Teachers Credit Union 849061AA4 11/23/22 11/24/25 5.000% 248,000.00 248,684.48 - 2,157.60 101.1460 250,842.08 248,000.00 1,019.18 Eaglemark Savings Bank 27004PBD4 04/07/21 04/07/26 0.700% 245,000.00 213,632.65 - - 2,793.00 88.3370 216,425.65 245,000.00 Greenstate Credit Union 39573LBL1 06/16/21 06/16/26 0.900% 249,000.00 216,856.59 - - 2,841.09 88.2320 219,697.68 249,000.00 184.19 UBS Bk USA Salt Lake 90348JQ29 07/14/21 07/14/26 0.900% 249,000.00 216,241.56 - - 2,843.58 87.9860 219,085.14 249,000.00 184.19 Bank of Frankewing 06221LAE3 11/09/22 11/09/26 4.950% 248,000.00 248,466.24 - 582.80 100.4230 249,049.04 248,000.00 1,008.99 Baxter Credit Union 07181JAU8 11/22/22 11/23/26 5.000% 248,000.00 249,334.24 - 2,328.72 101.4770 251,662.96 248,000.00 1,019.18 Celtic Bank 15118RZT7 11/30/22 11/30/26 4.800% 249,000.00 248,549.31 - 2,358.03 100.7660 250,907.34 249,000.00 982.36 Dept of Commerce Federal Credit Union 24951TAT2 05/13/22 05/13/27 3.250% 249,000.00 232,904.64 - - 2,928.24 94.7120 235,832.88 249,000.00 665.14 BMO Harris Bank NA 05600XFW5 06/15/22 06/15/27 3.300% 249,000.00 233,046.57 - - 3,002.94 94.7990 236,049.51 249,000.00 675.37 Numerica 67054NBC6 11/04/22 11/04/27 4.950% 248,000.00 248,580.32 - 3,206.64 101.5270 251,786.96 248,000.00 1,008.99 Sub Total / Average 2.277% 11,209,000.00 10,398,856.05 248,000.00 - 113,756.95 10,760,613.00 11,457,000.00 19,015.65 - City of Lomita
Investment Portfolio Report December 31, 2022
Account/ Investment Title & Description Account #/
CUSIP
Settlement
Date
Maturity
Date
Yield to
Maturity
Beginning Face
Amount/Shares
Beginning
Market Value
Buy
Principal
Sell
Principal
Change in
Market Value
Current
MP
Ending Market
Value
Ending Face
Amount/Shares
Interest
Earned /
(Accrued)
Realized Gain
/(Loss) On
Investment
Federal Agency Securities
Federal Home LN BKS 3130APXC4 12/10/21 12/10/24 1.100% 1,000,000.00 930,360.00 - - 2,010.00 93.2370 932,370.00 1,000,000.00 5,500.00 Federal Home LN BKS 3130ALMM3 03/30/21 03/30/26 1.000% 250,000.00 223,655.00 - - 405.00 89.6240 224,060.00 250,000.00 - - Federal Home LN BKS 3130AR2B6 03/08/22 03/08/27 2.375% 500,000.00 459,780.00 - 100.00 91.9760 459,880.00 500,000.00 Federal Home LN BKS 3130ARDY4 03/29/22 03/29/27 2.500% 500,000.00 461,385.00 - 60.00 92.2890 461,445.00 500,000.00 Federal Home LN BKS 3130ARGQ8 04/14/22 04/14/27 2.875% 250,000.00 233,460.00 - 17.50 93.3910 233,477.50 250,000.00 Federal Home LN BKS 3130ASD22 06/29/22 06/29/27 3.590% 250,000.00 238,007.50 - 20.00 95.2110 238,027.50 250,000.00 4,487.50 Federal Home LN MTG 3134GXL28 08/17/22 08/17/27 4.150% 250,000.00 244,362.50 - 80.00 97.7770 244,442.50 250,000.00 Federal Home LN MTG 3134GXQ23 08/25/22 08/25/27 4.250% 250,000.00 245,727.50 - (770.00) 97.9830 244,957.50 250,000.00 Federal Home LN MTG 3134GY3F7 11/22/22 11/22/27 5.125% 250,000.00 252,647.50 - (412.50) 100.8940 252,235.00 250,000.00 Federal Farm Credit Bank 3133ENCD0 11/30/21 10/27/25 1.040% 500,000.00 452,725.00 - - 855.00 90.7160 453,580.00 500,000.00 Federal Farm Credit Bank 3133EMB76 05/26/21 05/26/26 0.950% 500,000.00 445,290.00 - - 680.00 89.1940 445,970.00 500,000.00 - Sub Total / Average 2.632% 4,500,000.00 4,187,400.00 - - 3,045.00 4,190,445.00 4,500,000.00 9,987.50 - Commerical Paper
Bank of America Corp A2 06048WM31 05/28/21 05/28/26 1.250% 1,000,000.00 864,170.00 - - (2,540.00) 86.1630 861,630.00 1,000,000.00 Goldman Sachs Corp A2 38150AFK6 04/30/21 04/30/26 1.550% 500,000.00 438,010.00 - - (370.00) 87.5280 437,640.00 500,000.00 JPMorgan Chase & Co 48128G4R8 08/17/21 08/17/26 1.150% 500,000.00 423,475.00 - - (285.00) 84.6380 423,190.00 500,000.00 Sub Total / Average 1.317% 2,000,000.00 1,725,655.00 - - (3,195.00) 1,722,460.00 2,000,000.00 - - U.S. Treasuries
US Treasury Note 06048WM31 07/28/22 07/31/23 1.250% 1,000,000.00 977,190.00 - - 3,120.00 98.0310 980,310.00 1,000,000.00 US Treasury Note 9128284D9 07/28/22 03/31/23 2.500% 500,000.00 496,640.00 - - 1,015.00 99.5310 497,655.00 500,000.00 Sub Total / Average 1.875% 1,500,000.00 1,473,830.00 - - 4,135.00 1,477,965.00 1,500,000.00 - - Total / Average - Investments 2.05% 22,419,023.14 20,995,764.19 248,000.00 - 117,741.95 21,361,506.14 22,667,023.14 29,003.15 - Demand Deposit Account (DDA)
Pacific Western - General Account XXXX259 N/A N/A 0.000% 3,743,241.13 N/A N/A N/A N/A 100.0000 3,743,241.13 3,743,241.13 N/A N/A (Outstanding Checks) N/A N/A (102,259.57) N/A N/A N/A N/A 100.0000 (102,259.57) (102,259.57) N/A N/A Sub Total / Average 0.000% 3,640,981.56 3,640,981.56 3,640,981.56 - - Total /Cash & Investments 26,060,004.70 20,995,764.19 248,000.00 - 117,741.95 - 25,002,487.70 26,308,004.70 29,003.15 - City of Lomita
Investment Portfolio Report December 31, 2022
Previous Balance $ 3,319,854.15
Deposits 2,881,422.49
Disbursements (2,486,141.46)
Adjustments 28,105.95
Current Balance 3,743,241.13
General Fund - City Operations
General Fund - City Operations including LAIF and Investments 100 6,100,607.79 Sub Total - General Fund - City Operations including LAIF and Investments 6,100,607.79 Special Revenue Funds
OPEB Trust Fund - Retiree Health Care 201 251,296.06
Pension Stabilization Fund 202 1,319,077.98
Economic Development 203 746,506.98
General Plan Update 204 200,000.00
Gas Tax Fund - Street Maintenance 205 908,749.63
Measure R Local Fund - Street Projects 207 509,960.93
Measure R Highway Fund - Street Projects 208 (78,219.93) Measure M Fund - Street Projects 209 563,253.71
Economic Stabilization 210 500,000.00
Measure W Fund - Safe Clean Water Program 211 224,902.86 American Rescue Plan 212 3,400,324.00
CDBG Fund - Housing Programs 215 (31,596.76)
Lomita Housing Authority - Housing Programs 217 -
Proposition A Fund - Transportation Projects 220 370,358.99 Proposition C Fund - Transportation Projects 225 2,172,694.14 Transportation Development Act Article 3- Transportation Projects 230 (13,537.51) Air Quality Fund - Air Quality Projects 235 54,974.80
Landscape Maintenance Fund - Landscape Maintenance District 245 5,620.54 Park Facilities Fee Fund - Quimby Funds 250 452,993.07
Park Athletic Fund - Park Athlete Programs 255 86,729.75 Park Grant Fund - Park Improvement Programs 257 (0.06)
Lomita Manor Fund - Federal Housing Program 260 197,505.04 CA Law Enf. Equip. Program (CLEEP) Fund - Public Safety Equip. 276 6,221.38 Sub Total - Special Revenue Funds 11,847,815.60
Capital Improvement Funds
Capital Improvement Fund - Capital Improvement Projects 310 184,572.79 Street Improvement Fund - Street Improvement Projects 311 1,273,747.24 Facilities Improvement Fund - Facilities Improvement Projects 312 317,744.23 Stephenson Center Fund - Facilities Improvement Projects 313 85,744.47 Sub Total - Capital Improvement Funds 1,861,808.73
GENERAL LEDGER CASH BALANCES
City of Lomita
Investment Portfolio Report December 31, 2022
Previous Balance $ 3,319,854.15
Deposits 2,881,422.49
Disbursements (2,486,141.46)
Adjustments 28,105.95
Current Balance 3,743,241.13
Proprietary Funds
Water Operations Fund - Water Operations 510 3,595,417.53 Water Capital Fund - Water Capital Projects 520 390,456.28 Rate Stabilization - Cypress Reservoir Bond 530 125,000.00 Internal Service Fund - Equipment Replacement 610 1,185,275.47 PK Equipment Replacement Fund 611 680,338.02
Sewer Replacement Fund 612 500,000.00
Sub Total - Proprietary Funds 6,476,487.30
Trust and Agency Funds
Museum Foundation Fund - Railroad Museum Programs 720 21,695.03 Tom Rico Memorial Fund - Park Program Scholarships 730 (409.75) Sub Total - Trust & Agency Funds 21,285.28
Total 26,308,004.70
Pooled Cash 999 (22,564,763.57)
Grand Total 3,743,241.13