PISMO BEACH CITY COUNCIL STAFF REPORT
Agenda Item #9.C
Meeting Date: May 7, 2024
TITLE:
Monthly Investment Transaction Report of the City’s Cash and Investments for March 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 March 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 March 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 March 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 05-07-2024 9.C-1
City of Pismo Beach
Investment Name Name of Institution Type of Investment
Current
Earnings
Rate Book Value
Actual Interest
Earned March
2024
Actual Year-to-
Date Interest
Earned Ending
3/31/2024 * Data Sources
General Fund Reserves US Bank CDs/GASs/Corp/
Muni Bonds
2.08% avg 7,658,980 15,492$ 108,915$ 1 City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ Muni Bonds/
US Treasury Note
3.00% avg 34,736,551 204,291 1,052,792 1 Total All Securities 42,395,531$ 219,783$ 1,161,707$ City Pooled Funds - B US Bank Custody 0.00%-$ 172$ 7,590$ 1 City Pooled Funds - B Local Agency Invest.
Fund
State Investment
Pool
4.30%20,033,457 230,104 512,639 2 City Pooled Funds - B US Bank Checking & Sweep 4.91%13,782,202 16,235 25,929 3 City Pooled Funds - B 33,815,659$ 246,511$ 546,158$ City Pooled Funds total A + B 68,552,211$ 450,801$ 1,598,949$ Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 Pier Project 586$ 2$ 594$ 4
Funds Held with Fiscal
Agent
Bond funds:
Wilmington Trust
2017 CREB's
Project
1,021 4 511 4
CalPERS Benefit Trust
OPEB Trust Account CalPERS Benefit
Trust Account
Various managed by
CalPERS
5,500,858$ 188,412$ 496,152$ 5 TOTAL, Cash and Investments at March 31, 2024:81,713,656$ 654,712$ 2,205,120$ TOTAL for City Managed Portfolio, Cash and Investments:76,211,190$ 466,293$ 1,707,865$ 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 Attachment 1
Council Agenda 05-07-2024 9.C-2
CITY OF PISMO BEACH
Attachment 2: For the General Fund Reserve and City Pooled Funds A Transactions on Investments in Securities
March 31, 2024
INVESTMENT ACTIVITY
PURCHASES OR DEPOSITS
03/06/24 Purchase Morgan Stanley Bank 245,000$
03/21/24 Purchase US Treasury Bill 8,003,991
Total 8,248,991$
SALES, MATURITIES, CALLS OR WITHDRAWALS
03/21/24 Matured US Treasury Bill 7,992,713$
03/28/24 Matured US Treasury Bill 5,899,666
Total 13,892,380$
ACTIVITY TOTAL (5,643,388)$
INTEREST REVENUE
GENERAL FUND RESERVE INVESTMENTS
Interest Earned on Investments 15,492$
POOLED INVESTMENTS
Interest Earned on Investments 204,291$
TOTAL INTEREST EARNED 219,783$
Data Source: Monthly Download of Transactions from US Bank Attachment 2
Council Agenda 05-07-2024 9.C-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:3/31/2024 Bank Account Description Bank ID
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Checking US Bank 3,875,302$ 3,215,844$ (4,992,286)$ 12,108,342$ (425,000)$ 13,782,202$ LAIF LAIF 26,033,457 - - - (6,000,000) 20,033,457 Total all Bank Accounts 29,908,759$ 3,215,844$ (4,992,286)$ 12,108,342$ (6,425,000)$ 33,815,659$ Fund Description Fund #
Beginning
Balance Cash Receipts Disbursements Transfers-In Transfers-Out Ending
Balance
General Fund
General Fund 1001-10101 6,475,682 5,533,326 (2,799,923) - - 9,209,084 General Fund-Reserve 1001-10105 371,006 15,519 - - - 386,525 Half Cent Sales Tax Fund 1002 1,783,546 390,417 - - - 2,173,962 Special Revenue Funds
Gas Tax Fund 2001 177,899 33,540 - - - 211,439 LTF - Streets 2002 271,729 (62) - - - 271,667 PEG Access Fund 2003 94,855 (321) - - - 94,534 Police Grant Fund 2004 169,175 (20,395) - - - 148,780 Housing In Lieu Fund 2005 114,421 31 - - - 114,452 LBID Fund 2006 2,300,488 125,254 (139,010) - - 2,286,732 Chapman House 2007 81,169 15,956 (28,288) - - 68,838 Capital Projects Funds
Capital Projects Fund 3001 597,035 1,156,608 (1,120,110) - - 633,533 Public Facilities Fund 3002 891 - - - - 891 Park Development Fund 3003 302,120 11,302 - - - 313,421 Circulation Fund 3101 531,593 7,874 - - - 539,468 Development Impact Fee Fund 3102 62,876 13,516 - - - 76,392 Developer Impact Fee Fund 3103 169,601 - - - - 169,601 Underground Utility Fund 3201 16,767 - - - - 16,767 Attachment 3
Council Agenda 05-07-2024 9.C-4
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:3/31/2024 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 776 - - - - 776 Spyglass AD Fund 4102 12,915 - - - - 12,915 Indio-El Portal AD Fund 4112 750 - - - - 750 Visalia Street AD Fund 4113 4,816 366 - - - 5,182 Enterprise Funds
Water Enterprise/Tax Fund 6101/6102 4,131,455 413,288 (230,363) - - 4,314,379 Water Construction Fund 6103 847,242 29,913 (29,911) - - 847,244 Water Expansion Fund 6104 880,610 12,143 - - - 892,753 Wastewater Enterprise Fund 6201 407,782 424,356 (394,203) - - 437,935 Wastewater Construction Fund 6202 1,660,830 3,950 (3,950) - - 1,660,830 Wastewater Expansion Fund 6203 2,017,444 19,417 - - - 2,036,862 LTF - Transit Fund 6301 28,661 - - - - 28,661 Pier Operations Fund 6401 (2,092) 5,583 (6,497) - - (3,007) Parking Fund 6501 1,981,414 320,914 (46,342) - - 2,255,986 Internal Service Funds
Technology Service Fund 7101 123,832 117,541 (64,621) - - 176,752 Motor Vehicle Fund 7201 3,135,613 122,056 (283,743) - - 2,973,925 Trust & Agency Funds
SLO County TMD 8201 85,907 99,637 (92,086) - - 93,457 Control Funds
Payroll Control Fund 9301 898,510 266,320 8,725 - - 1,173,555 Interest Control Fund 9302 1,694 16,235 - - - 17,929 Utility Billing Control Fund 9304 169,747 2,940 - - - 172,688 M/R Control Fund 9305 - - - - - - Total all cash funds 29,908,759 9,137,222 (5,230,322) - - 33,815,659 Attachment 3
Council Agenda 05-07-2024 9.C-5
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:3/31/2024 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 6,605,033 - - - - 6,605,033 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 Mkt1002-10108 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 (4,957,131) - - - 6,003,991 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 - - - - - - Attachment 3
Council Agenda 05-07-2024 9.C-6
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:3/31/2024 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 584 2 - - - 586 Public Fin Fiscal Agent-CREBs 4002-10515 1,017 4 - - - 1,021 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 735,000 - - - - 735,000 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 (15,796) - - - 1,000,000 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 (15,796) - - - 1,000,000 Parking Enterprise Money Mrkt 6501-10108 (0) - - - - (0) Parking Fund Corp Bond-Pooled 6501-10141 500,000 - - - - 500,000 Parking Enterprise 6501-10404 980,000 245,000 - - - 1,225,000 Parking Fund Federal Agencies 6501-10405 1,750,000 - - - - 1,750,000 Parking Fund Treasury Note 6501-10410 899,666 (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 5,133,541 367,317 - - - 5,500,858 Total all Investments 53,174,061$ (5,276,065)$ -$ -$ -$ 47,897,996$ Total all Funds 83,082,820$ 3,861,158$ (5,230,322)$ -$ -$ 81,713,656$ Attachment 3
Council Agenda 05-07-2024 9.C-7