121322-C-4sr&att.pdf — Long Beach City Council, December 13, 2022

LONG
C-4
OFFICE OF THE CITY AUDITOR LAURA L. DOUD, CPA
Long Beach, California City Auditor
December 13, 2022

HONORABLE MAYOR AND CITY COUNCIL
City of Long Beach
California
RECOMMENDATION:

Receive and file the Quarterly Report of Cash and Investments for the quarter ending June 30, 2022.

DISCUSSION:

Pursuant to Section 803 of the City Charter, the Office of the City Auditor is charged with verifying cash in the City Treasury on a quarterly basis and providing a written report to the City Council. Attached is the Quarterly Report of Cash and Investments for the quarter ending June 30, 2022.

TIMING CONSIDERATIONS:

This item is not time sensitive.

FISCAL IMPACT:

There is no fiscal impact.

SUGGESTED ACTION:

Approve recommendation.

Respectfully submitted,
Laura Dad
Laura L. Doud, CPA

CITY AUDITOR
attachment
411 West Ocean Boulevard, 8th Floor, Long Beach, California 90802 (562) 570-6751 [email protected] CityAuditorLauraDoud.com The CIty of Long BEACH
OffICe Of The City AUDITOR

QUARTERLY AUDIT OF CASH AND INVESTMENTS
June 30, 2022
WINDES

AUDIT TAX ADVISORY

TABLE OF CONTENTS
Executive Summary........... .. .

Background....... ..1-2
Audit Objectives, Scope, and Methodology ..2-3
Results and Conclusions 4
Attachment I: Pooled and Non-Pooled Cash and Investment Balances By Fund .5-9 Attachment II: Pooled and Non-Pooled Cash and Investment Balances By Security Type............................. .10
WINDES Long Beach | Irvine | Los Angeles
www.windes.com
AUDIT I TAX ADVISORY 844.4WINDES

EXECUTIVE SUMMARY
We have conducted a performance audit of the cash and investment balances of the City of Long Beach (the City) as of June 30, 2022. The City of Long Beach's management is responsible for the cash and investments balances. As of June 30, 2022, the City's cash and investments portfolio totaled approximately $2.1 billion.

We conducted this performance audit in accordance with Generally Accepted Government Auditing Standards. Those standards require that we plan and perform the audit to obtain sufficient and appropriate evidence to provide a reasonable basis for our findings and conclusions based on our audit objectives. We believe that the evidence obtained provides a reasonable basis for our findings and conclusions based on our audit objectives.

BACKGROUND
City Charter Mandate
Pursuant to Section 803 of the Charter of the City of Long Beach, California, the Office of the City Auditor is charged with verifying cash and investment balances in the City Treasury on a quarterly basis and providing a written report to the City Council. The Office of the City Auditor has contracted Windes, Inc. to perform the June 30, 2022 audit.

The audit of cash and investment balances of the City of Long Beach includes verifying cash and investments with outside depositories, and evaluating the City Treasurer's compliance with the relevant provisions of the California Government Code and the City's Investment Policy, which is adopted annually by the City Council.

Pooled Cash and Investments
The City's pooled cash is a grouping of the City's available cash for investments. The larger amount of money involved in a pool allows the City to earn a higher rate of return than each fund could receive by itself. Pooled funds that are not needed for operations are invested by the Treasury Bureau. The interest income earned in pooled cash and investments is apportioned to funds based on the ratio of daily cash balances to the total of pooled cash and investments.

Non-pooled Cash and Investments
Generally, non-pooled cash and investments are used for specific project operations or pledged for reserves or interest payments of outstanding debt.
1 BACKGROUND (CONTINUED)
Chandler Asset Management
The City has an agreement with Chandler Asset Management ("Chandler") to provide investment advisory and management services related to the City's pooled investment portfolio.

The term of the agreement beginning January 1, 2015 was extended through December 31, 2023. Chandler manages the City's pooled investment portfolio on a non-discretionary basis and provides ongoing oversight of investment activity, including "best practice" recommendations, updates on both financial and regulatory developments, investment strategy review, and performance and credit analysis related to investments in the City's investment pool.

AUDIT OBJECTIVES, SCOPE, AND METHODOLOGY
The objectives of our performance audit were to reconcile cash and investments as to the amount and description recorded on the City's books with outside depositories and to evaluate the City's compliance with the relevant provisions of the California Government Code Section 53601 and the City's Investment Policy.

The scope of this audit was limited to the quarter ended June 30, 2022.

We performed the following procedures:
• Obtained an understanding of the internal controls surrounding the City's cash and investment process.
• Obtained confirmations of cash held by banks and investments held by the City Treasurer's safekeeping agent and other custodians as of June 30, 2022 and reconciled them to the City's general ledger.
• Reconciled the balance of total investments on the City Treasurer's Investment Activity Portfolio Statistics Report (Sympro) at June 30, 2022 to the City's general ledger. • Obtained bank and investment reconciliations at June 30, 2022 and traced balances to the City's general ledger. This also included testing, on a sample basis, the adjustments made on the reconciliation to ensure they are valid adjustments. 2 AUDIT OBJECTIVES, SCOPE, AND METHODOLOGY (CONTINUED)
• Compared investments listed on the City Treasurer's Investment Activity Portfolio Statistics Report (Sympro) at June 30, 2022 to the types of investments authorized for the City in accordance with the City's Investment Policy and the relevant provisions of the California Government Code.
• Compared the portfolio mix of investment types listed in the City Treasurer's Investment Activity Portfolio Statistics Report (Sympro) at June 30, 2022 to the portfolio mix limitations imposed by the City's Investment Policy and the relevant provisions of the California Government Code.
• Reviewed supporting documentation on a sample basis, the purchase, sale and maturity of individual investments to determine compliance with the following provisions of the California Government Code and the City's Investment Policy:
• Purchases of investments meet minimum rating requirements and maximum allowable maturity periods.
• All sections of the investment transaction record are properly completed and authorized by the City Treasurer.
• Transactions are supported by documentation from third-party sources (individual broker confirmations, safekeeping statements, custodian statements, etc.)
The City finalizes its calculations of accrued interest at the end of the fiscal year; thus, testing of accrued interest is conducted as part of the fiscal year-end cash and investment audit. As such, we did not test accrued interest, which is excluded from the balance of Total Cash and Investments at June 30, 2022, listed in Attachments I and II. In addition, the allocation of pooled cash and investments between funds was outside the scope of this audit. As such, the Schedule of Pooled and Non-Pooled Cash and Investment Balances by Fund is attached for informational purposes only.

RESULTS AND CONCLUSIONS
During our audit, we noted the following reconciling item related to cash and investment activity during the quarter ended June 30, 2022 was not booked in the City's accounting records (MUNIS). The following summarizes our finding:
$(49,690,422) Adjustment to recognize the change in fair value of investments held at June 30, 2022 was not recorded, leading to an overstatement of investments held. It is the City's policy to recognize the fair value change at fiscal year-end and not during the interim periods.

The City's cash and investment balances as of June 30, 2022 are summarized as follows:

Pooled Cash and Investments $ 1,971,729,912
Non-Pooled Cash and Investments 168,321,375
Total Cash and Investments $ 2,140,051,287
Based on the results of audit procedures performed and adjustment made, cash and investment balances as recorded on the City's books at June 30, 2022 materially agree as to the amount and description with outside depositories. Also, we found the City to be in compliance with all other relevant provisions of the California Government Code and the City's Investment Policy.

MANAGEMENT COMMENTS
Management concurs that investment activity for the subject period was in full compliance with the applicable sections of the California government Code and City's Investment Policy.

The $(49,690,422) adjustment for fair value of investments reflects the unrealized change in value of the legacy securities attributable to the movement of market interest rates. The purpose of an adjustment is to fairly report the market value of the pooled investments at a point in time for annual financial reporting purposes on September 30 of each year, rather than every quarter. The City has no management or reporting need for mark to market except on September 30. Therefore the City elects not to expend staff resources and do the research to adjust to market except for fiscal year end. The City's official financial reports always reflect market value as required and in compliance with GASB 31 standards.

Windes, che.

Long Beach, California
November 9, 2022
4 ATTACHMENT I

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY FUND AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
Pooled Non-Pooled Total at Total at
Fund June 30, June 30, June 30, June 30,
Number Name of Fund 2022 2022 2022 2021
1000 GF - Operating $ 111,212,703 $ 1,380,341 $ 112,593,014 $ 23,570,808 1009 GF - District Priority 1,098,594 : 1,098,594 1,224,697 1010 GF - Cap/Oper Grants 2,496,768 2,496,768 2,450,737 1011 GF - Long Beach Recovery Act 74,473,968 74,473,968 1020 GF - CLB Measure A 49,900,219 49,900,219 46,055,916 1021 GF - CLB Measure US (178,464) (178,464)
1030 GF - CLB Measure MA (10,973) (10,973) (4,721)
1040 GF - Asset Seizure Federal 815,140 815,140 808,162 1041 GF - Asset Seizure US Treasury 977,144 977,144 971,223 1042 GF - Asset Seizure State 1,013,885 1,013,885 933,746 1043 GF - ASF Priority Intyntn Prgm 85,044 85,044 71,470 1090 GF - CLB Measure M Escrow 3,000,000
1100 GF - Uplands Oil Operating 24,325,012 24,325,012 17,585,466 2000 SR - General Grants (6,298,874) (6,298,874) 126,414 2001 SR - American Rescue Plan Act (48,497,944) (48,497,944) 67,924,770 2010 SR - City Manager Grants 2,705,234 2,705,234 17,860,202 2015 SR - Parks Grants (1,690,686) (1,690,686) (2,248,112) 2020 SR - Police Grants 8,504,256 8,504,256 6,115,871
2025 SR - City Prosecutor Grants 336,425 336,425 349,417 2026 SR - CP Grants Annual Fund 315,547 315,547
2030 SR - Fire Grants (627,186) (627,186) 293,611
2035 SR - Development Srvc Grants 524,512 524,512 542,945 2040 SR - Library Grants 2,969,528 2,969,528 2,283,728
2041 SR - Library Grants Annual (203,539) (203,539)
2100 SR - PS Oil Prod Tax - Fire 87,225 87,225 350,277
2150 SR - PS Oil Prod Tax - Police 1,232,857 1,232,857 1,281,408 2200 SR - Health Operating 7,085,436 7,086,236 7,602,874 2210 SR - Health Grants (37,541,282) (37,541,282) (27,019,121) 2300 SR - CUPA Operating 1,274,199 1,274,199 767,192
2301 SR - CUPA Annual (694,452) (694,452)
2400 SR - Spec Adver/Prom Operating 9,241,432 9,241,432 5,251,867 2500 SR - Housing Operations 5,630,598 5,630,598 5,190,155 2501 SR - Housing Annual 13,036,206 40,519 13,076,725 14,351,451 2550 SR - LB Community Invest Co 6,937,815 6,937,815 10,660,121 2600 SR - Belmont Shre Pkg Mtr 244,404 : 244,404 100,705 2650 SR - Business Assistance 634,352 634,352 555,717
2710 SR - Workforce Development Grants (8,683,153) 167,666 (8,515,487) (6,668,765) 5 ATTACHMENT I

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY FUND AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
(Continued)
Pooled Non-Pooled Total at Total at
Fund June 30, June 30, June 30, June 30,
Number Name of Fund 2022 2022 2022 2021
2711 SR - Comm Dev Grants - HUD 6,689,431 6,689,431 5,952,758 2713 SR - Comm Dev - Other Grants 5,972,061 : 5,972,061 20,708,720 2760 SR - Housing Auth Grnts 79,535 79,535 (152,449)
2761 SR - Housing Auth Annual 29,840,062 2,388,880 32,228,942 23,913,559 2810 SR - DIF-Traffic Mitigation Fees 8,200,038 8,200,038 7,428,253 2811 SR - DIF-Parks Impact Fees 7,667,645 7,667,645 5,322,321 2812 SR - DIF-Police Impact Fees 3,397,326 3,397,326 2,920,184 2813 SR - DIF-Fire Impact Fees 1,404,091 1,404,091 1,551,031 4005 DS - General Debt Service 15,434,253 2,786,575 18,220,828 20,110,104 4505 DS - Successor Agency (12,147) 26,512,860 26,500,713 25,666,298 5010 CP - Capital Grants 13,916,714 13,916,714 12,175,270 5015 CP - Bond Proceeds (285,701) (285,701) (42,617)
5020 CP - Capital Projects 52,490,338 52,490,338 42,254,597 5120 CP - Special Assessment Projects 1,775,589 1,809,685 1,809,678 5200 CP - Legislative 4,912,736 4,912,736 4,912,736
5310 CP - Transport Capital Project (281,168) (281,168) (281,168) 5320 CP - State Gas Tax CP Projects 11,944,732 11,944,732 11,860,393 5411 CP - County Prop C Metro 23,967,550 23,967,550 23,546,811 5412 CP - County Measure R Metro 11,513,683 11,513,683 5,125,246 5413 CP - State AB2766 Air Quality 1,425,590 1,425,590 855,808 5414 CP - County Measure M Metro 13,311,920 13,311,920 7,219,767 5416 CP - County Prop A Metro 14,963,386 14,963,386 12,524,311 5417 CP - State RMRA Local Return 12,338,123 12,338,123 19,241,885 : 16,244,110 6,712,165
5418 CP - County Measure W 16,244,110
5420 CP- State PT Tran Dev Act SB821 (3,491) (3,491) (3,470) 5500 CP - Successor Agency Operating 174 174 3,441,238
CP - Successor Agency Annual 11,059,580 32.683 11,092,263 8,238,843 5501
6000 IS - Civic Center Operating 3,168,134 3,168,134 (172,060) 6005 IS - Civic Center Debt 100,000 : 100,000 100,000
6020 IS - Civic Center Capital (5,847,593) (5,847,593) (5,230,591) 6100 8,381,047 2025015 10,406,062 9,413,218
IS - Genral Services Operating
6110 IS - General Service Grants 732,974 853 733,827 (1,137,267) 6120 IS - General Services Capital 14,796,087 3,205 14,799,292 14,468,130 6200 IS - Fleet Operating (4,959,233) (4,959,233) 1,495,559 6205 IS - Fleet Debt 125,009 125,009 134,247
6210 IS - Fleet Grants 1,546,933 1,546,933 1,583,759
6220 IS - Fleet Capital 3,976,855 3,976,855 4,124,901
6230 IS - Fleet Replacement 53,355,458 9,575,918 62,931,376 42,877,620 6 ATTACHMENT I

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY FUND AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
(Continued)
Pooled Non-Pooled Total at Total at
Fund June 30, June 30, June 30, June 30,
Number Name of Fund 2022 2022 2022 2021
6300 IS - Workers' Compensation 38,199,783 38,199,783 38,335,385 6350 IS - General Liability 24,719,731 24,719,731 12,447,662 6390 IS - Disaster Recovery 630,841 630,841 630,841
6400 IS - EBF - Operating 121,849,529 121,849,529 21,208,493 6401 IS - EBF - Healthcare 23,590,955 23,590,955 14,190,623 6402 IS - EBF - Payroll Taxes (16,989,051) (16,989,051) (15,456,136) 6403 IS - EBF - Paid Time Off 26,087,678 26,087,678 79,405,917 6405 IS - EBF - Pension & Retirement (60,455,365) (60,455,365) 9,971,281 7000 BF - Gas Operating 65,894,406 750 65,895,156 53,668,890 7005 EF - Gas Debt 60,501 19,989,426 20,049,927 18,468,828 7020 EF - Gas Cap/Oper Proj 13,766,901 13,766,901 16,268,157 7035 EF - Gas Prepay (LBBFA) 562 562 2,109,555
7100 EF - Water Operating 47,181,311 20,000 47,201,311 37,211,591 7101 EF - Water Reclaimed Operating 4,550,381 4,550,381 5,153,216 7105 EF - Water Debt (2,274,875) 2,873,983 599,108 545,077 7106 EF - Water Debt Others (125,125) (125,125) (125,125.00) 7120 EF - Water Capital Projects (19,709,060) (19,709,060) (13,326,390) 7121 EF - Water Reclaimed Capital (242,801) (242,801) (166,196) 7200 EF - Sewer Operating 19,674,375 19,674,375 19,456,378 7205 EF - Sewer Debt (427,264) (427,264) (428,200)
7220 EF - Sewer Capital Projects (4,194,140) (4,194,140) (5,777,957) 7300 EF - Sol Waste Operating 6,946,126 3,000 6,949,126 10,486,252 7310 EF - Sol Waste Cap/Oper Grants 606,281 606,281 747,577 7320 EF - Sol Waste Cap/Oper Proj (424,955) (424,955) (424,955) 7350 EF - SERRF Operations 18,154,912 18,154,912 18,569,804 7355 EF - SERRF JPA Debt 153 153 148
7400 EF - Airport Operating 46,190,981 46,191,081 37,130,352 7410 EF - Airport Grants (799,849) (799,849) (8,469,775) 7411 EF - Airport Passenger Fac Chrg 5,626,401 : 5,626,401 5,518,855 7412 EF - Airport Customer Fac Chrg 13,479,335 13,479,335 12,568,831 7420 EF - Airport Cap/Oper Proj (17,413,485) (17,413,485) 3,814,223 7425 EF - Airport Debt (5,506,269) 40.765.518 35,259,249 10,856,016 7500 EF - Developmnt Svcs Operating 44,513,209 44,513,209 38,459,186 7510 EF - Developmnt Svcs Grants (2,525,632) (2,525,632) (167,353) 7520 EF - Develpmnt Svc Casp SB1186 504,698 504,698 407,073 7550 EF - Towing Operating 2,927,797 1,700 2,929,497 1,074,995 7600 EF - Tidelands Operating 91,236,486 2,000 91,238,486 97,859,866

ATTACHMENT I

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY FUND AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
(Continued)
Pooled Non-Pooled Total at Total at
Fund June 30, June 30, June 30, June 30,
Number Name of Fund 2022 2022 2022 2021
7605 EF - Tidelands Debt 3,040,601 21 3,040,622 (25,658) 7610 EF - Tidelands Capital Grants 197,847 197,847 79,776 7620 EF - Tidelands Capital Projects (4,306,822) (4,306,822) (4,287,848) 7630 BF - Tidelands Parking 3,499 3,499 1,628,209
7631 EF - Tidelands Parking Annual 6,424,083 6,424,083 2,559,676 7635 EF - TF Convatn Ctr Pkg Surchg 3,575,247 3,575,247 3,417,827 7700 EF - TF Marina Operating 36,703,020 8,792,195 45,495,215 40,926,605 7710 EF - TF Marina Capital Grant 1,606,552 1,606,552 1,606,987 7720 EF - TF Marina Capital Projects (2,350)
7750 EF - TF Queen Mary Project Oper 163,389
7751 BF - TF QM Entertainment Dist Ops 122,531 .... 122,531 7770 BF - TF Queen Mary Capital Project 614,677 614,677 1,754,198 7800 EF - Tidelands Oil 63,318,742 63,318,742 59,926,458 7850 EF - TF Subsidence 191,262,039 191,262,039 189,601,851 7885 ER - TF Aqua Of The Pac Debt 8,223,500 44,682,372 52,905,872 24,231,440 7900 EF - Harbor Operating 3,907,862,547 900 3,907,863,447 3,956,583,629 7901 Ef - Harbor CTP 2022 Zero EMSS 6,687,870 6,687,870 7910 EF - Harbor Cap/Oper Grants 119,277,254 119,277,254 119,336,424 7920 EF - Harbor Cap/Oper Proj (3,397,560,215) (3,397,560,215) (3,237,753,044) 7933 EF - Ha Debt 2014B Bonds 1,029,375 1,029,375 73,125 7934 EF - Ha Debt 2015A Bonds 924,000 924,000 1,932,688 7935 EF - Ha Debt 2015B Bonds 1,347,688 1,347,688 125,813 7936 EF - Ha Debt 2015C Bonds 413,031 413,031 413,031
7937 EF - Ha Debt 2015D Bonds 417,906 417,906 417,906
7938 EF - Ha Debt 2017A Bonds 635,063 - 635,063 635,063 7939 EF - Ha Debt 2017B Bonds 162,406 162,406 162,406
7940 EF - Ha Debt 2017C Bonds 266,625 - 266,625 266,625 7942 EF - Ha Debt 2019A Bonds 1,008,188 - 1,008,188 1,008,188 7943 EF - Ha Debt 2020A Bonds 326,969 326,969 326,969
7944 EF - Ha Debt 2020B Bonds 1,791,656 1,791,656 2,961,731 7946 EF - Ha Debt 2020C Notes Const 38,862,111
8 ATTACHMENT I

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY FUND AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
(Continued)
Pooled Non-Pooled Total at Total at
Fund June 30, June 30, June 30, June 30,
Number Name of Fund 2022 2022 2022 2021
7947 EF - Ha Debt 2020C Notes Cap I 2,950,468
7948 EF - Ha Debt 2021 TIFIA 1,072,273 : 1,072,273 814,570 8000 CS - Fiduciary Operating 4,192,721 4,192,721 4,135,717 8010 CS - Prisoner Welfare 307,637 1,500 309,137 295,929 8100 CS - Asmt CFDS Lb Towne Center 231,356 1,050,989 1,282,345 1,260,714 8105 CS - Asmt CFD6 Pike Pub Impry 192,093 3,258,410 3,450,503 3,409,412 8110 CS - Asmt CFD7-1 Douglas Pk Cm 685,417 1,181,905 1,867,322 1,755,962 8115 CS - Asmt CFD7-2 Belmont Shore 119,843 380,870 500,713 501,908 8120 CS - Asmt CFD8-1 Toledo Ugd Ut 110,281 164,264 274,545 267,206 8125 CS - Asmt CFD11-1 Dougias Pk N (18,062) (18,062) (3,668) 8190 CS - Other Special Assessment 149,193 149,193 148,264 8200 CS - ICTF JPA Operating 8,638,883 8,638,883 11,484,092 8300 CS - Earthquake Asmt Dist 90-3 268,208 268,208 266,474 8310 CS - Earthquake Asmt Dist 93-1 558,657 558,657 555,266 8400 CS - Los Cerritos Wetlands Auth 202,061 202,061 210,345 8500 CS - Pkg & Bus Area Improve 1,514,814 1,514,814 481,179 8550 CS - Promenade District 515,721 515,721 467,316
8600 PP - Expendable Trust (58,803) (58,803) (58,449)
8610 PP - Library Miller Trust 671,475 671,475 703,525
8620 PP - Homeless Expendable Trust 5,083 5,083 5,053
9900 Accrued Interest Receivable (4,491,578) (4,491,578) (4,546,849) Unrealized (losses) gains on investments (49,690,422) (49,690, 422) 10,870,465 TOTAL CASH AND INVESTMENTS $ 1,971,729,912 $ 168,321,375 $ 2,140,051,287 $ 2,308,141,128 * The City's pooled cash and investments was audited in aggregate and the allocation among funds was outside the scope of the performance audit. The allocation is presented for informational purposes only. **Unrealized (losses) gains on investments are due to market changes and represent the difference between the City's cost basis and the fair market value at June 30, 2022. The City's policy is to recognize any unrealized gains and losses at the end of the fiscal year for financial statement purposes, in compliance with Governmental Accounting Standards. All unrealized gains of losses are reported to the City Council through the Quarterly Investment Report by the City Treasurer. 9 ATTACHMENT II

POOLED AND NON-POOLED CASH AND INVESTMENT BALANCES
BY SECURITY TYPE AT JUNE 30, 2022
WITH COMPARATIVE TOTALS FOR JUNE 30, 2021
Pooled Non-Pooled Total at Total at
June 30, June 30, June 30, June 30,
2022 2022 2022 2021
CASH
Cash in Banks $ 96,450,942 $ 2,872,320 $ 99,323,262 $ 215,704,874 Cash with Fiscal Agents 145,491,995 145,491,995 86,555,983 Total Cash $ 96,450,942 148,364,315 $ 244,815,257 $ 302,260,857

INVESTMENTS
U.S. Treasury Notes $ 1,488,233,283 $ - $ 1,488,233,283 $ 1,223,037,030 Federal Farm Credit Bank 6,852,020 6,852,020 7,290,780
Federal Home Loan Bank 57,870,528 57,870,528 104,745,338 Federal National Mortgage Association (RNMA) 90,107,997 90,107,997 130,179,387 Federal Home Loan Mortgage Corporation (FHLMC) 55,069,941 55,069,941 68,583,216 Federal Home Loan Discount 19,978,200 19,978,200 -
Local Agency Investment Fund 71,939,644 - 71,939,644 221,323,389 Guaranteed Investment Contracts 19,957,060 19,957,060 18,315,541 Money Market - 220,251,409
Corporate Notes 85,227,357 85,227,357 12,154,181
Total Investments $ 1,875,278,970 19,957,060 $ 1,895,236,030 $ 2,005,880,271 TOTAL CASH AND INVESTMENTS $ 1,971,729,912 168.321,375 $ 2,140,051,287 $ 2,308,141,128 10 OF LONG
OFFICE OF THE CITY AUDITOR LAURA L. DOUD, CPA
COPRORACED Long Beach, California City Auditor
December 13, 2022