Agenda Item
City Council
Item #: 6.1. 5/9/2023 File #: 23-0297
TO: Honorable Mayor and Members of the City Council
THRU: Tom Kisela, City Manager
FROM: Richard A. Rohm, City Treasurer
Susan Galvan, Assistant City Manager
1. SUBJECT
Monthly Treasurer’s Reports for January, February, and March 2023
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 April 26, 2023, the Investment and Audit Committee (IAC) reviewed the cash City of Orange Printed on 5/4/2023Page 1 of 3
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Item #: 6.1. 5/9/2023 File #: 23-0297
At their meeting on April 26, 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 committee meeting is scheduled for July 26, 2023.
Summary of changes in Treasurer’s cash and investments:
Operating Cash & Investments (1)
Balance @ 12/31/2022 $164,409,562
Monthly Activity:
Cash Received 26,119,165
Cash Disbursed (30,379,921)
Balance @ 3/31/2023 $160,148,806
(1)Represents the book balance. Includes operating cash and investments (valued at cost). Does not include deposits with administrator, imprest cash, fiscal agent cash and investments, and deferred compensation.
Significant Monthly Cash Transactions:
January February March
Cash Receipts:
Sales Tax Revenue 4,280,561$ 6,686,548 4,482,195
Property Taxes 9,960,450 69,807 2,270,921
Cash Disbursements:
PERS Employee Benefits 717,648 709,114 719,402 OC Water District Pump Tax 5,257,866 Redsky Emergency Vehicles Ambulance 888,852
Southern Counties Oil Sales Tax Sharing 3,149,596
Big Ben, Inc
Sewer
Replacement 1,154,818 675,616
Axon Enterprises
Police Enterprise
System 560,812
New Dynasty Construction
Company
Police HQ Roof &
HVAC 478,681
Southern California Edison Utilities 368,743 447,542 388,900 Painting & Décor Inc
Library Facilities
Improvement 458,390
Excess Cash Receipts 1,561,341 (4,400,622) (1,421,475) Excess Cash Disbursements
LAIF Balance Beginning 69,900,000 76,200,000 69,700,000
7. ATTACHMENTS
· Investment Report for January 2023
City of Orange Printed on 5/4/2023Page 2 of 3
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Item #: 6.1. 5/9/2023 File #: 23-0297
· Investment Report for February 2023
· Investment Report for March 2023
City of Orange Printed on 5/4/2023Page 3 of 3
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