PISMO BEACH COUNCIL AGENDA REPORT
Agenda Item #9.D
SUBJECT/TITLE:
MONTHLY INVESTMENT TRANSACTION REPORT OF THE CITY’S CASH AND INVESTMENTS FOR SEPTEMBER 2022 OF FY 2022-2023
RECOMMENDATION:
No action required; information only.
BACKGROUND:
This report updates the City Council on the City of Pismo Beach’s monthly transactions of the City’s investment portfolio for the month ending September 30, 2022. California State Government Code Section 53607 states that if the authority of the legislative body to invest or reinvest funds for the City is delegated to the City Treasurer, the City Treasurer shall make a monthly report of those transactions to the legislative body.
The attached report includes all transactions of the City’s investments managed by the City, including funds invested in various securities and the City’s pooled funds invested in various financial instruments.
Attachment 1 provides a summary of the City’s cash, investments, and monthly interest earnings based on book value as of September 30, 2022. Attachment 2 provides details on the investment transactions for the General Fund Reserve and City Pooled Funds A (for deferred capital projects), including: purchases or deposits; sales, maturities, calls or withdrawals; and interest earnings. Attachment 3 provides details of the monthly transactions by fund for City Pooled Funds B (for current year expenditures) for the month ending September 30, 2022.
FISCAL IMPACT:
No fiscal impact from the report itself—information only.
ALTERNATIVES:
1. No Council action is proposed, other than to receive the information.
ATTACHMENTS:
1. Summary Table for ALL Funds, including Book Values and Earnings Data for Investments in Other Financial Instruments
2. For the General Fund Reserve and City Pooled Funds A—Transactions on Investments in Securities
3. For City Pooled Funds B—Summary of monthly transactions by fund Prepared by: Vanessa Garris, Finance Manager Meeting Date: December 20, 2022 Submitted by: Nadia Feeser, Administrative Services Director / City Treasurer City Manager Approval:
9.D-1Council Agenda 12-20-2022
City of Pismo Beach
Investment Name Name of Institution Type of Investment
Current
Earnings
Rate Book Value
Actual Interest
Earned
September 2022
Actual Year-to-
Date Interest
Earned Ending
9/30/2022 * Data Sources
General Fund Reserves US Bank CDs/GASs/Corp/
Muni Bonds
2.02% avg 7,702,606$ 15,461$ 29,501$ 1 City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ Muni Bonds/
US Treasury Note
2.07% avg 29,403,676 18,878 72,081 1 Total All Securities 37,106,282$ 34,339$ 101,582$ City Pooled Funds - B US Bank Custody 0.00%-$ 146$ 225$ 1 City Pooled Funds - B Local Agency Invest.
Fund
State Investment
Pool
1.35%19,330,256 65,774 65,774 2 City Pooled Funds - B US Bank Checking 0.00%18,787,645 79 220 3 City Pooled Funds - B 38,117,901$ 65,999$ 66,219$ City Pooled Funds total A + B 67,521,577$ 84,876$ 138,299$ Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 Pier Project 52$ -$ 0$ 4 Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 CREB's
Project
6 - - 4 CalPERS Benefit Trust
OPEB Trust Account CalPERS Benefit
Trust Account
Various managed by
CalPERS
3,999,974$ (313,000)$ (313,000)$ 5 TOTAL, Cash and Investments at September 30, 2022:79,224,215$ (212,662)$ (145,199)$ TOTAL for City Managed Portfolio, Cash and Investments:75,224,183$ 100,337$ 167,801$ Notes:
* Data Sources for Book Values and Actual Interest Earned:
1 = Monthly Customer Statement from US Bank
2 = Monthly statement from Local Agency Investment Fund 3 = Monthly reconciled bank statement from US Bank
4 = Monthly statement from Wilmington Trust
5 = Monthly statement from CalPERS Benefit Trust Account Attachment 1: Summary Table for All Funds,
including Book Values and Earnings Data for Investments in Other Financial Instruments
9.D-2Council Agenda 12-20-2022
Attachment 1
CITY OF PISMO BEACH
Attachment 2: For the General Fund Reserve and City Pooled Funds A Transactions on Investments in Securities
September 30, 2022
INVESTMENT ACTIVITY
PURCHASES OR DEPOSITS
09/15/22 Purchase Cobalt Federal Credit Union 245,000$
09/21/22 Purchase Austin Telco Federal Credit Union 245,000 09/23/22 Purchase California Credit Union 245,000
09/30/22 Purchase Quorum Federal Credit Union 245,000
09/30/22 Purchase Jeanne D Arc Federal Credit Union 245,000 09/30/22 Purchase FHLB 500,000
09/30/22 Purchase Vystar Credit Union 245,000
Total 1,970,000$
SALES, MATURITIES, CALLS OR WITHDRAWALS
09/29/22 Matured Allegiance Bank 245,000$
Total 245,000$
ACTIVITY TOTAL 1,725,000$
INTEREST REVENUE
GENERAL FUND RESERVE INVESTMENTS
Interest Earned on Investments 15,461$
POOLED INVESTMENTS
Interest Earned on Investments 18,878$
TOTAL INTEREST EARNED 34,339$
Data Source: Monthly Download of Transactions from US Bank
9.D-3Council Agenda 12-20-2022
Attachment 2
Attachment 3: For City Pooled Funds B - Summary of monthly transactions by fund City of Pismo Beach - Bank Account Proof of Cash for the month ending: 9/30/2022 Bank Account Description Bank ID
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
General Checking US Bank 18,901,617$ 4,831,909$ (3,255,366)$ 289,485$ (1,980,000)$ 18,787,645$ LAIF LAIF 19,330,256 - - - - 19,330,256 Total all Bank Accounts 38,231,872$ 4,831,909$ (3,255,366)$ 289,485$ (1,980,000)$ 38,117,901$ Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
General Fund
General Fund 1001-10101 10,880,641 2,048,110 (1,809,656) - - 11,119,095 General Fund-Reserve 1001-10105 307,594 (297,102) - - - 10,493 Half Cent Sales Tax Fund 1002 2,759,214 (263,381) - - - 2,495,833 Special Revenue Funds
Gas Tax Fund 2001 84,795 34,986 - - - 119,782 LTF - Streets 2002 393,305 (31,356) (1,849) - - 360,101 PEG Access Fund 2003 170,074 - - - - 170,074 Police Grant Fund 2004 268,456 - - - - 268,456 Housing In Lieu Fund 2005 2,207,583 654 (7,500) - - 2,200,737 LBID Fund 2006 1,518,332 338,007 (54,903) - - 1,801,436 Chapman House 2007 34,233 2,138 (7,565) - - 28,806 Capital Projects Funds
Capital Projects Fund 3001 (514,329) 622,461 (515,457) - - (407,325) Public Facilities Fund 3002 869 - - - - 869 Park Development Fund 3003 312,389 25,637 - - - 338,026 Circulation Fund 3101 626,829 - - - - 626,829 Development Impact Fee Fund 3102 466,153 27,867 - - - 494,020 Developer Impact Fee Fund 3103 165,376 - - - - 165,376 Underground Utility Fund 3201 16,349 - - - - 16,349
9.D-4Council Agenda 12-20-2022
Attachment 3
Attachment 3: For City Pooled Funds B - Summary of monthly transactions by fund City of Pismo Beach - Bank Account Proof of Cash for the month ending: 9/30/2022 Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
Debt Service Funds
Public Finance Authority Fund 4001 - - - - - - Public Finance Authority Fund 4002 - - - - - - Freeway Foothills AD Fund 4101 756 - - - - 756 Spyglass AD Fund 4102 12,593 - - - - 12,593 Indio-El Portal AD Fund 4112 731 - - - - 731 Visalia Street AD Fund 4113 100,007 - - - - 100,007 Enterprise Funds
Water Enterprise/Tax Fund 6101/6102 2,267,728 390,836 (136,827) - - 2,521,737 Water Tax - Gragg Fund 6102-10102 - - - - - - Water Construction Fund 6103 696,134 65,013 (88,331) - - 672,817 Water Expansion Fund 6104 1,226,008 3,754 - - - 1,229,762 Wastewater Enterprise Fund 6201 3,667,699 432,393 (165,223) - - 3,934,869 Wastewater Construction Fund 6202 1,339,072 834 - - - 1,339,907 Wastewater Expansion Fund 6203 2,014,852 10,651 - - - 2,025,503 LTF - Transit Fund 6301 28,692 (75) - - - 28,617 Pier Operations Fund 6401 25,250 7,023 (4,243) - - 28,030 Parking Fund 6501 2,840,048 (516,270) (60,883) - - 2,262,896 Internal Service Funds
Technology Service Fund 7101 11,895 80,751 (77,698) - - 14,948 Motor Vehicle Fund 7201 3,400,404 (153,782) (77,417) - - 3,169,205 Trust & Agency Funds
SLO County TMD 8201 301,507 258,748 (312,157) - - 248,099 Control Funds
Payroll Control Fund 9301 349,842 24,477 89,828 - - 464,148 Interest Control Fund 9302 36,264 79 - - - 36,343 Utility Billing Control Fund 9304 213,975 4,002 - - - 217,977 M/R Control Fund 9305 - - - - - - Total all cash funds 38,231,323 3,116,457 (3,229,879) - - 38,117,901
9.D-5Council Agenda 12-20-2022
Attachment 3
Attachment 3: For City Pooled Funds B - Summary of monthly transactions by fund City of Pismo Beach - Bank Account Proof of Cash for the month ending: 9/30/2022 Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
INVESTMENTS
General Fund
General Fund Money Mrkt Csh 1001-10108 0 - - - - 0 General Fund - CD's 1001-10404 4,347,000 115,407 - - - 4,462,407 General Fund - Fed Agency 1001-10405 4,049,000 - - - - 4,049,000 GF - Half Cent Sales Tax CD's 1002-10404 980,000 245,000 - - - 1,225,000 GF - Half Cent Sales Tax 1002-10405 500,000 - - - - 500,000 GF - Half Cent Sales Tax Mny M1002-10108 0 - - - - 0 GF Reserve Money Mkt Cash 1001-10109 0 - - - - 0 GF Reserve - CD's 1001-10403 2,607,000 374,593 - - - 2,981,593 GF Reserve - Fed Agency 1001-10402 2,208,000 - - - - 2,208,000 GF Reserve - Building 1001-10406 202,000 - - - - 202,000 GF Reserve - Building - Federal 1001-10146 298,000 - - - - 298,000 GF Reserve - Risk Mgmt - CD's 1001-10407 150,000 - - - - 150,000 GF Reserve - Risk Mgmt - Fed A 1001-10140 50,000 - - - - 50,000 GF Corp Bond - Pooled 1001-10141 529,143 - - - - 529,143 GF Corp Bond - Reserve 1001-10145 500,000 - - - - 500,000 GF Municipal Bonds Pooled 1001-10142 435,101 - - - - 435,101 GF Municipal Bonds Reserve 1001-10143 1,263,013 - - - - 1,263,013 Risk Mgmt Muni Bonds Reserve 1001-10144 50,000 - - - - 50,000 Half Cent Sales Tax - Pooled 1002-10141 - - - - - - Half Cent Sales Tax - Muni Bond 1002-10142 571,288 - - - - 571,288 GF CREB's Fiscal Agent 1001-10515 (0) - - - - (0) GF Treasury Note 1001-10410 5,045,375 - - - - 5,045,375 Special Revenue Funds
Housing In Lieu - Mny Mkt Csh 2005-10108 (0) - - - - (0) Housing In Lieu Fund 2005-10404 875,000 - - - - 875,000 Housing In-Lieu Fed Agencies 2005-10405 140,000 - - - - 140,000 Capital Projects Funds
Park Develop. Fund Mny Mkt 3003-10108 - - - - - - Park Development Fund 3003-10404 - - - - - - Park Develop Federal Agencies 3003-10405 - - - - - - Circulation Fees Mny Mkt 3101-10108 - - - - - - Circulation Fees 3101-10404 - - - - - - Develop. Impact Fee Mny Mkt 3102-10108 0 - - - - 0 Development Impact Fee Fund 3102-10404 245,000 - - - - 245,000 Impact Fees Federal Agencies 3102-10405 - - - - - -
9.D-6Council Agenda 12-20-2022
Attachment 3
Attachment 3: For City Pooled Funds B - Summary of monthly transactions by fund City of Pismo Beach - Bank Account Proof of Cash for the month ending: 9/30/2022 Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
INVESTMENTS
Debt Service Funds
Public Fin Fiscal Agent-Pier 4002-10510 52 - - - - 52 Public Fin Fiscal Agent-CREBs 4002-10515 6 - - - - 6 Enterprise Funds
Water Fund Money Mrkt Csh 6101-10108 0 - - - - 0 Water Fund CD's 6101-10404 490,000 - - - - 490,000 Wtr Fund Federal Agencies 6101-10405 2,155,000 - - - - 2,155,000 Wtr Fund Corp Bond - Pooled 6101-10141 - - - - - - Water Construction Money Mkt 6103-10108 (0) - - - - (0) Water Construction 6103-10404 504,363 - - - - 504,363 Wastewater Fund Money Market 6201-10108 0 - - - - 0 Wastewater Fund CD's 6201-10404 490,000 - - - - 490,000 Wastewater Fund Fed Agencies 6201-10405 2,100,000 - - - - 2,100,000 WWtr Fund Corp Bond - Pooled 6201-10141 1,062,000 - - - - 1,062,000 Parking Enterprise Money Mrkt 6501-10108 (0) - - - - (0) Parking Fund Corp Bond-Pooled 6501-10141 500,000 - - - - 500,000 Parking Enterprise 6501-10404 735,000 245,000 - - - 980,000 Parking Fund Federal Agencies 6501-10405 1,000,000 500,000 - - - 1,500,000 Parking Fund Treasury Note 6501-10410 1,000,000 - - - - 1,000,000 Internal Service Funds
MVR Fund Money Mrkt Csh 7201-10108 0 - - - - 0 MVR Fund CD's 7201-10404 50,000 245,000 - - - 295,000 MVR Fund Federal Agencies 7201-10405 250,000 - - - - 250,000 CalPers Benefit Trust
OPEB Trust Account 8101-10408 4,313,918 (313,944) - - - 3,999,974 Total all Investments 39,695,258$ 1,411,056$ -$ -$ -$ 41,106,314$ Total all Funds 77,926,581$ 4,527,513$ (3,229,879)$ -$ -$ 79,224,215$
9.D-7Council Agenda 12-20-2022
Attachment 3