Agenda Item
City Council
Item #: 3.29. 11/15/2022 File #: 22-0627
TO: Honorable Mayor and Members of the City Council
FROM: Richard Rohm, City Treasurer
Will Kolbow, Assistant City Manager/Administrative Services Director
1. SUBJECT
Monthly Treasurer’s Report for July, August, and September 2022.
2. SUMMARY
Presentation of three monthly Treasurer’sReports to the City Council, after the end of the quarter covered by the reports.
3. RECOMMENDED ACTION
Receive and file.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
d: Effectively manage and develop City assets.
6. DISCUSSION AND BACKGROUND
The City’scurrent Statement of Investment Policy has been adopted by the City Council of the City of Orange as Resolution 11340 and is in accordance with the California Government Code Sections 53600 et seq. Per the Investment Policy, three monthly investment reports are to be submitted to the City Council within 45 days following the end of the quarter.
As required by the City’s present Investment Policy, the City Treasurer’s report delineates all investments made by the City Treasurer for the City, its special funds, and the Successor Agency funds, by investment type and by broker.
The monthly Compliance Report certifying compliance of all investments with both the Government Code and the City’s Investment Policy is included.
The Investment Portfolio Statement accurately reflects all investments held by the City and its agents as of the end of the month. A reconciliation between total cash and investments and total cash per the General Ledger is also included.
Pursuant to California Government Code Section 53646(b)(3), the City certifies that the reported cash and investment balances are sufficient to meet anticipated expenditures for the next six months.
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Item #: 3.29. 11/15/2022 File #: 22-0627
Summary of changes in Treasurer’s cash and investments:
Operating Cash & Investments (1)
Balance @ 6/30/2022 $162,495,430
Monthly Activity:
Cash Received 50,524,105
Cash Disbursed (61,120,524)
Balance @ 9/30/2022 $151,899,010
(1)Represents the book balance. Includes operating cash and investments (valued at cost). Does not include deposits with administrator, imprest cash, fiscal agent cash and investments, and deferred compensation.
Significant Monthly Cash Transactions:
July August September
Cash Receipts:
Sales Tax Revenue 4,762,054$ 6,795,775 4,653,018 Property Taxes 464,733 60,463 460,395 Cash Disbursements:
PERS Employee Benefits 2,068,027 670,759 670,975 Municipal Water District Purchase Water 1,549,780 1,183,799 1,259,031 RC Construction Services Fire Headquarters 1,805,587 497,153 1,437 Southern Counties Oil Sales Tax Sharing 1,442,959
CIPA Insurance Premium 3,270,346
R J Noble Company Pavement Maint. 1,087,647 1,178 29,849 OCWD Replenishment 3,641,933
Excess Cash Receipts
Excess Cash Disbursements (7,609,203) (474,545) (2,795,444) LAIF Balance Beginning 74,900,000 68,900,000 68,400,000 Ending 68,900,000 68,400,000 67,900,000
7. ATTACHMENTS
· Investment Report for July 2022
· Investment Report for August 2022
· Investment Report for September 2022
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