PISMO BEACH COUNCIL AGENDA REPORT
Agenda Item #9.C
SUBJECT/TITLE:
MONTHLY INVESTMENT TRANSACTION REPORT OF THE CITY’S CASH AND INVESTMENTS FOR NOVEMBER 2022 OF FY 2022-2023
RECOMMENDATION:
No action recommended; for 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 November 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 November 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 November 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: March 7, 2023 Submitted by: Nadia Feeser, Administrative Services Director / City Treasurer City Manager Approval:
9.C-1Council Agenda 3-7-2023
City of Pismo Beach
Investment Name Name of Institution Type of Investment
Current
Earnings
Rate Book Value
Actual Interest
Earned
November 2022
Actual Year-to-
Date Interest
Earned Ending
11/30/2022 * Data Sources
General Fund
Reserves
US Bank CDs/GASs/Corp/
Muni Bonds
2.02% avg 7,572,606$ 13,708$ 60,370$ 1 City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ Muni Bonds/
US Treasury Note
2.07% avg 28,940,170 43,623 245,482 1 Total All Securities 36,512,776$ 57,331$ 305,851$ City Pooled Funds - B US Bank Custody 0.00% -$ 656$ 1,049$ 1 City Pooled Funds - B Local Agency Invest.
Fund
State Investment
Pool
1.35% 19,396,029 - 65,774 2 City Pooled Funds - B US Bank Checking 0.00% 23,404,065 88 392 3 City Pooled Funds - B 42,800,095$ 745$ 67,215$ City Pooled Funds total A + B 71,740,265$ 44,368$ 312,696$ Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 Pier Project 280,181$ -$ 0$ 4 Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 CREB's
Project
232,797 - - 4 CalPERS Benefit Trust
OPEB Trust Account CalPERS Benefit
Trust Account
Various managed
by CalPERS
3,999,974$ -$ (313,000)$ 5 TOTAL, Cash and Investments at November 30, 2022: 83,825,824$ 58,076$ 60,066$ TOTAL for City Managed Portfolio, Cash and Investments: 79,312,871$ 58,076$ 373,066$ 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.C-2Council Agenda 3-7-2023
Attachment 1
CITY OF PISMO BEACH
Attachment 2: For the General Fund Reserve and City Pooled Funds A Transactions on Investments in Securities
November 30, 2022
INVESTMENT ACTIVITY
PURCHASES OR DEPOSITS
11/04/22 Purchase Numerica Credit Union 245,000$
Total 245,000$
SALES, MATURITIES, CALLS OR WITHDRAWALS
11/10/22 Matured Jefferson Financial Federal Credit Union 245,000$ 11/22/22 Matured TIAA Federal Savings Bank 245,000
Total 490,000$
ACTIVITY TOTAL (245,000)$
INTEREST REVENUE
GENERAL FUND RESERVE INVESTMENTS
Interest Earned on Investments 13,708$
POOLED INVESTMENTS
Interest Earned on Investments 43,623$
TOTAL INTEREST EARNED 57,331$
Data Source: Monthly Download of Transactions from US Bank
9.C-3Council Agenda 3-7-2023
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: 11/30/2022 Bank Account Description Bank ID
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
General Checking US Bank 21,200,241$ 3,940,335$ (2,039,498)$ 547,988$ (245,000)$ 23,404,065$ LAIF LAIF 19,396,029 - - - - 19,396,029 Total all Bank Accounts 40,596,270$ 3,940,335$ (2,039,498)$ 547,988$ (245,000)$ 42,800,095$ Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In
Transfers-
Out
Ending
Balance
General Fund
General Fund 1001-10101 12,871,995 2,798,958 (1,214,802) - - 14,456,151 General Fund-Reserve 1001-10105 158,279 13,843 - - - 172,122 Half Cent Sales Tax Fund 1002 2,709,102 2,122 - - - 2,711,224 Special Revenue Funds
Gas Tax Fund 2001 153,984 33,674 - - - 187,658 LTF - Streets 2002 392,320 70,739 - - - 463,059 PEG Access Fund 2003 86,383 10,083 - - - 96,466 Police Grant Fund 2004 365,860 - - - - 365,860 Housing In Lieu Fund 2005 2,209,059 5,052 - - - 2,214,111 LBID Fund 2006 2,009,730 230,379 (99,795) - - 2,140,314 Chapman House 2007 25,256 40 (7,826) - - 17,470 Capital Projects Funds
Capital Projects Fund 3001 (757,934) 36,679 (27,943) - - (749,198) Public Facilities Fund 3002 871 - - - - 871 Park Development Fund 3003 338,518 (412) - - - 338,106 Circulation Fund 3101 628,532 - - - - 628,532 Development Impact Fee Fund 3102 494,802 30,896 - - - 525,698 Developer Impact Fee Fund 3103 165,829 - - - - 165,829 Underground Utility Fund 3201 16,394 - - - - 16,394
9.C-4Council Agenda 3-7-2023
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: 11/30/2022 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 759 - - - - 759 Spyglass AD Fund 4102 12,628 - - - - 12,628 Indio-El Portal AD Fund 4112 733 - - - - 733 Visalia Street AD Fund 4113 100,281 - - - - 100,281 Enterprise Funds
Water Enterprise/Tax Fund 6101/6102 2,767,055 555,344 (109,371) - - 3,213,028 Water Tax - Gragg Fund 6102-10102 - - - - - - Water Construction Fund 6103 609,604 9 - - - 609,613 Water Expansion Fund 6104 1,233,090 3,754 - - - 1,236,844 Wastewater Enterprise Fund 6201 3,906,166 (106,672) (165,342) - - 3,634,152 Wastewater Construction Fund 6202 1,341,931 - (35,628) - - 1,306,303 Wastewater Expansion Fund 6203 2,030,917 9,121 - - - 2,040,038 LTF - Transit Fund 6301 28,621 (75) - - - 28,546 Pier Operations Fund 6401 30,962 6,310 (5,574) - - 31,699 Parking Fund 6501 2,423,690 141,101 (56,202) - - 2,508,589 Internal Service Funds
Technology Service Fund 7101 15,234 80,751 (79,183) - - 16,802 Motor Vehicle Fund 7201 3,173,696 92,183 (39,484) - - 3,226,395 Trust & Agency Funds
SLO County TMD 8201 208,886 178,027 (203,994) - - 182,919 Control Funds
Payroll Control Fund 9301 620,205 2,541 51,219 - - 673,964 Interest Control Fund 9302 84 88 - - - 172 Utility Billing Control Fund 9304 222,202 3,763 - - - 225,964 M/R Control Fund 9305 - - - - - - Total all cash funds 40,595,721 4,198,300 (1,993,926) - - 42,800,095
9.C-5Council Agenda 3-7-2023
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: 11/30/2022 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 4,347,407 (245,000) - - - 4,102,407 General Fund - Fed Agency 1001-10405 4,049,000 - - - - 4,049,000 GF - Half Cent Sales Tax CD's 1002-10404 1,225,000 - - - - 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 2,851,593 - - - - 2,851,593 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 331,595 - - - - 331,595 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.C-6Council Agenda 3-7-2023
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: 11/30/2022 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 52 280,129 - - - 280,181 Public Fin Fiscal Agent-CREBs 4002-10515 6 232,792 - - - 232,797 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 980,000 - - - - 980,000 Parking Fund Federal Agencies 6501-10405 1,500,000 - - - - 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 295,000 - - - - 295,000 MVR Fund Federal Agencies 7201-10405 250,000 - - - - 250,000 CalPers Benefit Trust
OPEB Trust Account 8101-10408 3,999,974 - - - - 3,999,974 Total all Investments 40,757,808$ 267,921$ -$ -$ -$ 41,025,729$ Total all Funds 81,353,529$ 4,466,221$ (1,993,926)$ -$ -$ 83,825,824$
9.C-7Council Agenda 3-7-2023
Attachment 3