Agenda Item
City Council
Item #: 3.23. 3/14/2023 File #: 23-0103
TO: Honorable Mayor and Members of the City Council
FROM: Richard A. Rohm, City Treasurer
Susan Galvan, Assistant City Manager
1. SUBJECT
Monthly Treasurer’s Reports for October, November, and December 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 11384 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.
At their meeting on January 25, 2023, the Investment and Audit Committee (IAC) reviewed the cash positions, results of the year-end audit, and the monthly Investment Reports. The next quarterly City of Orange Printed on 2/8/2023Page 1 of 2
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Item #: 3.23. 3/14/2023 File #: 23-0103
positions, results of the year-end audit, and the monthly Investment Reports. The next quarterly committee meeting is scheduled for April 26, 2023.
Summary of changes in Treasurer’s cash and investments:
Operating Cash & Investments (1)
Balance @ 9/30/2022 $151,899,010
Monthly Activity:
Cash Received 65,045,105
Cash Disbursed (52,535,196)
Balance @ 12/31/2022 $164,409,562
(1)Represents the book balance. Includes operating cash and investments (valued at cost). Does not include deposits with administrator, imprest cash, fiscal agent cash and investments, and deferred compensation.
Significant Monthly Cash Transactions:
October November December
Cash Receipts:
Sales Tax Revenue 4,434,874$ 6,854,611 4,624,855 Property Taxes 187,876 3,914,643 13,518,973 Cash Disbursements:
PERS Employee Benefits 672,717 676,177 641,011 Municipal Water District Purchase Water 1,332,869 822,862 134,648 RC Construction Services Fire Headquarters 463,781 84,638 Southern Counties Oil Sales Tax Sharing 2,722,737
South Coast Fire Equipment 2023 Pierce Arrow 1,037,765
R J Noble Company Pavement Maint. 263,520 1,746,475 OC Sanitation District Developer Capacity Fee 698,857
Southern California Edison Utilities 506,725 491,652 348,832 Shelter Providers of OC, Inc. Family Care Center 222,815 Excess Cash Receipts 19,736,311
Excess Cash Disbursements (5,981,021) (1,647,937) LAIF Balance Beginning 67,900,000 61,900,000 61,400,000 Ending 61,900,000$ 61,400,000 69,900,000
7. ATTACHMENTS
· Investment Report for October 2022
· Investment Report for November 2022
· Investment Report for December 2022
City of Orange Printed on 2/8/2023Page 2 of 2
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