PISMO BEACH CITY COUNCIL STAFF REPORT
Agenda Item #9.C
Meeting Date: March 5, 2024
TITLE:
Monthly Investment Transaction Report of the City’s Cash and Investments for January 2024 of Fiscal Year 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 January 31, 2024. 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 January 31, 2024. 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 January 31, 2024.
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 3-5-2024 9.C-1
City of Pismo Beach
Investment Name Name of Institution Type of Investment
Current
Earnings
Rate Book Value
Actual Interest
Earned January
2024
Actual Year-to-
Date Interest
Earned Ending
1/31/2024 * Data Sources
General Fund Reserves US Bank CDs/GASs/Corp/
Muni Bonds
2.08% avg 7,658,980 9,309$ 89,551$ 1 City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ Muni Bonds/
US Treasury Note
3.20% avg 39,889,939 105,022 795,410 1 Total All Securities 47,548,919$ 114,331$ 884,961$ City Pooled Funds - B US Bank Custody 0.00%-$ 3,649$ 6,618$ 1 City Pooled Funds - B Local Agency Invest.
Fund
State Investment
Pool
4.00%20,033,457 - 282,535 2
City Pooled Funds - B US Bank Checking 0.00%11,740,741 1,245 9,244 3 City Pooled Funds - B 31,774,198$ 4,894$ 298,398$ City Pooled Funds total A + B 71,664,138$ 109,916$ 1,093,808$ Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 Pier Project 581$ 2$ 589$ 4 Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 CREB's
Project
1,013 4 502 4
CalPERS Benefit Trust
OPEB Trust Account CalPERS Benefit
Trust Account
Various managed by
CalPERS
5,133,541$ -$ 307,739$ 5
TOTAL, Cash and Investments at January 31, 2024:84,458,253$ 119,231$ 1,492,189$ TOTAL for City Managed Portfolio, Cash and Investments:79,323,118$ 119,225$ 1,183,359$ 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 3-5-2024 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
January 31, 2024
INVESTMENT ACTIVITY
PURCHASES OR DEPOSITS
01/02/24 Purchase US Treasury Bill 5,899,666$
Total 5,899,666$
SALES, MATURITIES, CALLS OR WITHDRAWALS
01/02/24 Matured US Treasury Bill 5,902,872$
Total 5,902,872$
ACTIVITY TOTAL (3,206)$
INTEREST REVENUE
GENERAL FUND RESERVE INVESTMENTS
Interest Earned on Investments 9,309$
POOLED INVESTMENTS
Interest Earned on Investments 105,022$
TOTAL INTEREST EARNED 114,331$
Data Source: Monthly Download of Transactions from US Bank Council Agenda 3-5-2024 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: 1/31/2024 Bank Account Description Bank ID
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Checking US Bank 14,175,865$ 6,381,481$ (4,033,037)$ 216,433$ (5,000,000)$ 11,740,741$ LAIF LAIF 14,883,931 149,526 - 5,000,000 - 20,033,457 Tot al all Bank Accounts 29,059,795$ 6,531,007$ (4,033,037)$ 5,216,433$ (5,000,000)$ 31,774,198$ Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Fund
General Fund 1001-10101 4,618,703 4,113,640 (1,440,742) -- 7,291,602 General Fund-Reserve 1001-10105 352,294 11,422 - - - 363,716 Half Cent Sales Tax Fund 1002 1,989,709 (139,649) - - - 1,850,060 Special Revenue Funds
Gas Tax Fund 2001 108,625 31,649 - - - 140,274
LTF - Streets 2002 224,599 1,328 - - - 225,927
PEG Access Fund 2003 85,619 169 - - - 85,788
Police Grant Fund 2004 146,704 19,116 - - - 165,819 Housing In Lieu Fund 2005 112,381 1,992 - - - 114,373 LBID Fund 2006 2,234,352 159,830 (121,093) -- 2,273,090 Chapman House 2007 83,050 63,773 (62,480) -- 84,343 Capital Projects Funds
Capital Projects Fund 3001 662,133 1,342,796 (1,422,060) -- 582,869 Public Facilities Fund 3002 886 5 - - - 891
Park Development Fund 3003 301,308 1,265 - - - 302,573 Circulation Fund 3101 528,405 3,191 - - - 531,596 Development Impact Fee Fund 3102 308,997 (247,082) - - - 61,915 Developer Impact Fee Fund 3103 168,604 997 - - - 169,601 Underground Utility Fund 3201 16,669 99 - - - 16,767 Council Agenda 3-5-2024 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: 1/31/2024 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 5 - - - 776
Spyglass AD Fund 4102 12,839 76 - - - 12,915
Indio-El Portal AD Fund 4112 746 4 - - - 750
Visalia Street AD Fund 4113 4,004 420 - - - 4,423 Enterprise Funds
Water Enterprise/Tax Fund 6101/6102 3,132,523 971,507 (234,636) -- 3,869,395 Water Construction Fund 6103 837,070 10,164 - - - 847,233 Water Expansion Fund 6104 875,475 5,134 - - - 880,610 Wastewater Enterprise Fund 6201 1,223,392 450,476 (396,987) -- 1,276,882 Wastewater Construction Fund 6202 1,412,960 8,411 (54) -- 1,421,316 Wastewater Expansion Fund 6203 2,005,631 11,814 - - - 2,017,444 LTF - Transit Fund 6301 28,493 169 - - - 28,661
Pier Operations Fund 6401 2,219 5,927 (7,758) -- 387 Par king Fund 6501 3,010,445 (508,011) (40,183) -- 2,462,251 Internal Service Funds
Technology Service Fund 7101 115,077 121,186 (79,603) -- 156,660 Motor Vehicle Fund 7201 2,986,284 143,977 (31,019) -- 3,099,242 Trust & Agency Funds
SLO County TMD 8201 138,192 115,878 (138,340) -- 115,730 Control Funds
Payroll Control Fund 9301 1,162,539 1,348 (14,380) -- 1,149,507 Interest Control Fund 9302 3,534 (2,290) - - - 1,245 Utility Billing Control Fund 9304 164,566 3,000 - - - 167,566 M/R Control Fund 9305 - - - - - -
Total all cash funds 29,059,795 6,703,737 (3,989,334) -- 31,774,198 Council Agenda 3-5-2024 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: 1/31/2024 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 6,360,033 - - - - 6,360,033 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 897,022 - - - - 897,022 GF Municipal Bonds Reserve 1001-10143 1,018,013 - - - - 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 10,961,122 - - - - 10,961,122 Special Revenue Funds
Housing In Lieu - Mny Mkt Csh 2005-10108 (0) - - - - (0) Housing In Lieu Fund 2005-10404 385,000 - - - - 385,000 Housing In-Lieu Fed Agencies 2005-10405 140,000 - - - - 140,000 Housing In-Lieu Treasury Note 2005-10410 - - - - - - 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 3-5-2024 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: 1/31/2024 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 579 2 - - - 581 Public Fin Fiscal Agent-CREBs 4002-10515 1,009 4 - -- 1,013 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 (3,206) - - - 899,666 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 5,133,541 - - - - 5,133,541 Total all Investments 52,687,253$ (3,199)$ -$ -$ -$ 52,684,054$ Total all Funds 81,747,049$ 6,700,538$ (3,989,334)$ -$ -$ 84,458,253$ Council Agenda 3-5-2024 9.C-7
Attachment 3