PISMO BEACH CITY COUNCIL STAFF REPORT
Agenda Item #9.C
Meeting Date: January 16, 2024
TITLE:
Monthly Investment Transaction Report of the City’s Cash and Investments for November 2023 of FY 2024
RECOMMENDATION:
No action recommended; for information only.
DISCUSSION:
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, 2023. 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, 2023. 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, 2023.
FISCAL IMPACT:
No fiscal impact from the report itself—information only.
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
Submitted by: Nadia Feeser, Administrative Service Director / City Treasurer City Manager Approval:
Council Agenda 1-16-2024 9.C-1
City of Pismo Beach
Investment Name Name of Institution Type of Investment
Current
Earnings
Rate Book Value
Actual Interest
Earned November
2023
Actual Year-to-
Date Interest
Earned Ending
11/30/2023 * Data Sources
General Fund Reserves US Bank CDs/GASs/Corp/
Muni Bonds
2.17% avg 7,658,980 16,967$ 69,621$ 1 City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ Muni Bonds/
US Treasury Note
3.37% avg 42,898,117 49,855 434,909 1 Total All Securities 50,557,097$ 66,822$ 504,530$ City Pooled Funds - B US Bank Custody 0.00%-$ 310$ 1,597$ 1 City Pooled Funds - B Local Agency Invest.
Fund
State Investment
Pool
3.59%14,883,931 - 133,009 2
City Pooled Funds - B US Bank Checking 0.00%13,001,701 1,000 6,906 3 City Pooled Funds - B 27,885,632$ 1,311$ 141,511$ City Pooled Funds total A + B 70,783,748$ 51,166$ 576,420$ Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 Pier Project 281,306$ 2$ 8$ 4 Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 CREB's
Project
236,724 2 11 4
CalPERS Benefit Trust
OPEB Trust Account CalPERS Benefit
Trust Account
Various managed by
CalPERS
4,638,943$ -$ (187,876)$ 5 TOTAL, Cash and Investments at November 30, 2023:83,599,702$ 68,137$ 458,184$ TOTAL for City Managed Portfolio, Cash and Investments:78,442,728$ 68,133$ 646,041$ 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 Council Agenda 1-16-2024 9.C-2
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, 2023
INVESTMENT ACTIVITY
PURCHASES OR DEPOSITS
11/15/23 Purchase Workers Federal Credit Union 245,000$ Total 245,000$
SALES, MATURITIES, CALLS OR WITHDRAWALS
11/01/23 Matured California State University Revenue Bonds 250,862$ 11/08/23 Matured Morgan Stanley 245,000
Total 495,862$
ACTIVITY TOTAL (250,862)$
INTEREST REVENUE
GENERAL FUND RESERVE INVESTMENTS
Interest Earned on Investments 16,967$
POOLED INVESTMENTS
Interest Earned on Investments 49,855$
TOTAL INTEREST EARNED 66,822$
Data Source: Monthly Download of Transactions from US Bank Council Agenda 1-16-2024 9.C-3
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: 11/30/2023 Bank Account Description Bank ID
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Checking US Bank 11,439,520$ 5,197,658$ (3,405,488)$ 287,133$ (517,122)$ 13,001,701$ LAIF LAIF 14,883,931 - - -- 14,883,931
Total all Bank Accounts 26,323,451$ 5,197,658$ (3,405,488)$ 287,133$ (517,122)$ 27,885,632$ Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Fund
General Fund 1001-10101 2,104,712 2,145,644 (1,494,657) -- 2,755,700 General Fund-Reserve 1001-10105 80,172 261,293 - - - 341,465 Half Cent Sales Tax Fund 1002 1,492,302 1,360 - - - 1,493,662 Special Revenue Funds
Gas Tax Fund 2001 86,506 18,158 - - - 104,663
LTF - Streets 2002 226,879 29,078 (2,131) -- 253,826 PEG Access Fund 2003 76,750 9,190 - - - 85,940
Police Grant Fund 2004 113,350 (73) - - - 113,277
Housing In Lieu Fund 2005 426,880 4,434 - - - 431,314 LBID Fund 2006 2,168,057 221,723 (237,803) -- 2,151,977 Chapman House 2007 82,675 92,856 (94,259) -- 81,271 Capital Projects Funds
Capital Projects Fund 3001 708,779 540,857 (542,787) -- 706,849 Public Facilities Fund 3002 886 - - -- 886
Park Development Fund 3003 285,312 (453)- - - 284,859 Circulation Fund 3101 557,938 (24,126) - - - 533,812 Development Impact Fee Fund 3102 321,325 33,352 - - - 354,677 Developer Impact Fee Fund 3103 168,604 - - -- 168,604 Underground Utility Fund 3201 16,669 - - -- 16,669 Council Agenda 1-16-2024 9.C-4
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:11/30/2023 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 771 - - - - 771 Spyglass AD Fund 4102 12,839 - - - - 12,839 Indio-El Portal AD Fund 4112 746 - - - - 746 Visalia Street AD Fund 4113 3,231 391 - - - 3,623 Enterprise Funds
Water Enterprise/Tax Fund 6101/6102 3,815,200 750,233 (151,985) - - 4,413,447 Water Construction Fund 6103 837,053 3 - - - 837,056 Water Expansion Fund 6104 862,409 4,048 - - - 866,457 Wastewater Enterprise Fund 6201 1,326,920 202,876 (253,440) - - 1,276,355 Wastewater Construction Fund 6202 1,412,960 - - - - 1,412,960 Wastewater Expansion Fund 6203 1,989,281 8,208 - - - 1,997,489 LTF - Transit Fund 6301 28,493 - - - - 28,493 Pier Operations Fund 6401 13,987 6,106 (4,368) - - 15,725 Parking Fund 6501 2,837,953 63,488 (43,974) - - 2,857,467 Internal Service Funds
Technology Service Fund 7101 85,454 145,732 (107,114) - - 124,072 Motor Vehicle Fund 7201 2,873,267 117,455 (80,199) - - 2,910,523 Trust & Agency Funds
SLO County TMD 8201 192,234 171,989 (192,249) - - 171,974 Control Funds
Payroll Control Fund 9301 952,757 1,092 (42,516) - - 911,334 Interest Control Fund 9302 1,440 1,000 - - - 2,440 Utility Billing Control Fund 9304 158,660 3,749 - - - 162,410 M/R Control Fund 9305 - - - - - - Total all cash funds 26,323,451 4,809,662 (3,247,482) - - 27,885,632 Council Agenda 1-16-2024 9.C-5
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: 11/30/2023 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 6,115,033 - - - - 6,115,033 General Fund - Fed Agency 1001-10405 4,049,000 - - - - 4,049,000 GF - Half Cent Sales Tax CD's 1002-10404 735,000 - - - - 735,000 GF - Half Cent Sales Tax Fed Age1002-10405 500,000 - - - - 500,000 GF - Half Cent Sales Tax Mny Mk 1002-10108 0 - - - - 0 GF Reserve Money Mkt Cash 1001-10109 0 - - - - 0 GF Reserve - CD's 1001-10403 3,182,967 - - - - 3,182,967 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 A1001-10146 298,000 - - - - 298,000 GF Reserve - Risk Mgmt - CD's 1001-10407 150,000 - - - - 150,000 GF Reserve - Risk Mgmt - Fed Ag1001-10140 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 902,883 (5,862) - - - 897,022 GF Municipal Bonds Reserve 1001-10143 1,263,013 (245,000) - - - 1,018,013 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 - - - - - - GF CREB's Fiscal Agent 1001-10515 (0) - - - - (0) GF Treasury Note 1001-10410 13,029,864 - - - - 13,029,864 Special Revenue Funds
Housing In Lieu - Mny Mkt Csh 2005-10108 (0) - - - - (0) Housing In Lieu Fund 2005-10404 630,000 - - - - 630,000 Housing In-Lieu Fed Agencies 2005-10405 140,000 - - - - 140,000 Housing In-Lieu Treasury Note 2005-10410 936,230 - - - - 936,230 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 - - - - - - Council Agenda 1-16-2024 9.C-6
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: 11/30/2023 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 385 280,921 - - - 281,306 Public Fin Fiscal Agent-CREBs 4002-10515 519 236,205 - - - 236,724 Visalia Street CD's 4113-10404 100,000 - - - - 100,000 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 Fund Treasury Note 6101-10410 1,015,796 - - - - 1,015,796 Water Construction Money Mkt 6103-10108 (0) - - - - (0) Water Construction 6103-10404 504,363 - - - - 504,363 Wastewater Fund Money Market C6201-10108 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 WWtr Fund Treasury Note 6201-10410 1,015,796 - - - - 1,015,796 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 1,750,000 - - - - 1,750,000 Parking Fund Treasury Note 6501-10410 902,872 - - - - 902,872 Internal Service Funds
MVR Fund Money Mrkt Csh 7201-10108 0 - - - - 0 MVR Fund CD's 7201-10404 1,526,000 - - - - 1,526,000 MVR Fund Federal Agencies 7201-10405 500,000 - - - - 500,000 CalPers Benefit Trust
OPEB Trust Account 8101-10408 4,638,943 - - - - 4,638,943 Total all Investments 55,447,806$ 266,264$ -$ -$ -$ 55,714,070$ Total all Funds 81,771,257$ 5,075,927$ (3,247,482)$ -$ -$ 83,599,702$ Council Agenda 1-16-2024 9.C-7
Attachment 3