Finance Department - Treasury Division
MEMORANDUM
To: Mayor and Members of the City Council
From: Andrea Miller, Director of Finance
Jerry Gurule, Accounting Manager
Date: February 20, 2024
Subject: MONTHLY CASH BALANCES & INVESTMENT REPORT =
December 2023
Enclosed for your information are the Investment Report, Portfolio Summary, and Comparative Cash Report for the month of December 2023 prepared by the City Treasurer pursuant to the statutory requirements of City of Richmond
Investment Report for December 2023
Pooled Investment Portfolio Analysis
UNAUDITED
Book Value History
Investment Composition:
(in millions)
Book Value of Investments Held 299,409,202.91
Market Value of Investments Held 299,409,202.91 $350.0
Unrealized Gain (Loss) - amount -
$300.0 5283 5295. 5306.3 $299.4
Unrealized Gain (Loss) - percentage 0.00% $276.9$268g$277.3 $251.9 $261.9$253.8
$250.0 $241.g S246.8$244.6.
$200.0
Book Value
Federal Agency Securities 0.00% $150.0
JPFA Pooled Investment
(CalTrust) 82.78% 247,853,241.90 $100.0
Local Agency Investment Fund (LAIF) 7.19% 21,515,276.08 Mechanics Bank Money Market 10.03% 30,040,684.93 $50.0
Certificate of Deposit 0.00%
Total Investments Held 100.00% 299,409,202.91 $0.0
Nov
23 23 '23 '23 '23
Cash Summary: Book Value by Investment Type
Pooled Investments (Unrestricted) 299.409.202.91 Mchanics Bank Fiscal Agent & Other Restricted Investments: LAIF Money Market City 21,515,276.08. 30,040,684.93
19,663,340.29 7% 10%
Successor Agency to the RCRA 14.877.992.31
Total Fiscal Agent & Other Investments 34,541,332.60
Checking Accounts & Other Activity
General Checking - All Funds 14,682,236.26
Workers Comp & General Liability (729,170.01)
Petty Cash 3,740.00
CaPERS CERBT •PFA Pooled Investment
9,574,216.04 (CalTrust)
OPEB Plan Trust - PARS 42.251,810.32
65,782,832.61 • LAIF
Variance - All Restricted & Unrestricted JPFA Pooled
166,774.78 Investment (CalTrust)
65.949.607.39 247,853,241.90
83% • Mchanics Bank Money Market
Total Cash Balance (Fund detail attached) 399,900,142.90 City of Richmond
Richmond City of Richmond Finance Department
Portfolio Management 450 Civic Center Plaza
Richmond, Richmond, CA 94804
Portfolio Summary (510)620-6740
December 31, 2023
Par Book % ol Days to YTM/C YTM/C
Investments Value Market Value Portfolio Term
Maturity 360 Equiv. 365 Equiv.
Local Agency Investment Funds 21,515,276.08 21,515,276.08 21,515,276.08 3.929
7.19 3.875
JPA Pooled Investments (CalTrust) 247,853,241.90 247,853,241.90 247,853,241.90 82.78 4.940 5.009 Mechanics Bank Money Market 30,040,684.93 30,040,684.93 30,040,684.93 10.03 1 1 4.882 4.950
- 299,409,202.91 299,409,202.91 299,409,202.91 100.00% 1 1 4.858 4.925 Investments
Cash
'assbook/Checkind 11,445,410.71
not included in yield calculations 11,445,410.71 11,445,410.71 1 1 0.000 0.000 Total Cash and Investments 310,854,613.62
310,854,613.62 310,854,613.62 1 1 4.858 4.925
Total Earnings December 31 Month Ending
Current Year 1,159,467.34
Average Daily Balance 283,160,257.65
Effective Rate of Return 4.82%
The above investments are consistent with the City's Investment Policy and allowable under current legislation of the State of California. Investments were selected using safety, liquidity and yiek as the criteria. The source of the market values for the investments are provided by Union Bank of California in accordance with the California Government Code requirement. The City has sufficient cash flow to cover anticipated expenditures through the next six months. 1/14/2034
Andrea Miller, Director of Finance
Reporting period 12/01/2023-12/31/2023
Portfolio CITY
CP
Run Date: 01/11/2024 - 13:59 No fiscal year history available IE (PRF_PM1) 7.3.11
Report Ver. 7.3.11
City of Richmond
Portfolio Management Page 1
Portfolio Details - Investments
December 31, 2023
Average Purchate Stated YTM/C Days to Maturity
CUSIP Investment # Issuer
Balance Par Value Market Value Book Value Rate S&P 365 Maturity Date
Local Agency Investment Funds
11-07-003 200676 L.A.LF. - TRAN
0.00 0.00 0.00 0.278 0.278 1
98-07-724 1000 L.A.I.F. - City of Richmond 21,515,276.08 21,515,276.08 21.515.276.08 3.929 3.929 1
Subtotal and Average 10,353,985.76 21,515,276.08 21,515,276.08 21,515,276.08
3.929 1
JPA Pooled Investments (CalTrust)
SYS200595 200595 Torrey Pines/Alta Alliance 0.00
0.00 0.00 0.200 0.203
SYS200602 200810 CALTRUST TRAN
0.00 0.00 0.00 0.510 0.517
SYS200601 200601 Cal Trust 247,853,241.90
247,853,241.90 247,853,241.90 4,940 5.009 1
1601111894 200581 Wells Fargo Bank 0.00
0.00 0.00 0.100 0.101 1
Subtotal and Average 249,098,116.84 247,853,241.90 247,853,241.90 247,853,241.90 5.009 1
Mechanics Bank Money Market
1690 200814 Mechanics Bank
12/20/2023 30,040,684.93 30,040,684.93 30,040,684.93 4.950 4.950 Subtotal and Average 11,616,840.48 30,040,684.93 30,040,684.93 30,040,684.93
4.950
Total and Average 283,160,257.65 299,409,202.91 299,409,202.91 299,409,202.91 4.925 1 Portfolio CITY
Run Date: 01/11/2024 - 13:59 CP
PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
City of Richmond
Portfolio Management Page 2
Portfolio Details - Cash
December 31, 2023
Average Purchase Stated YTM/C Days to
CUSIP Investment # Issuer Balance Par Value Market Value Book Value Rate S&P 365 Maturity Cash In Banks
SYS200723 200723 Mechanics Bank 11,445,410.71 11,445,410.71 11,445,410.71 0.000 1 Average Balance 0.00 1
Total Cash and Investments 283,160,257.65 310,854,613.62 310,854,613.62 310,854,613.62 4.925 1 Portfolio CITY
CP
Run Date: 01/11/2024 - 13:59 PM (PRF_PM2) 7.3.11
City of Richmond
Portfolio Management Page 1
Portfolio Details - Investments
• December 31, 2023
Average Purchase Stated YTM/C Days to Maturity
CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date
Local Agency Investment Funds
11-07-003 200676 L.A.I.F. - TRAN 0.00 0.00
0.00 0.278 0.278
98-07-724 1000 L.A.I.F. - City of Richmond 21,515,276.08 21,515,276.08 21,515,276.08 3.929 3.929 1
Subtotal and Average 10,353,985.76 21,515,276.08 21,515,276.08 21,515,276.08 3.929 1 JPA Pooled Investments (CalTrust)
SYS200595 200595 Torrey Pines/Alta Alliance 0.00 0.00
0.00 0.200 0.203 1
SYS200602 200810 CALTRUST TRAN 0.00 0.00
0.00 0.510 0.517 1
SYS200601 200601 Cal Trust 247,853,241.90 247,853,241.90 247,853,241.90 4.940 5.009 1
1601111894 200581 Wells Fargo Bank 0.00
0.00 0.00 0.100 0.101 1
Subtotal and Average 249,098,116.84 247,853,241.90 247,853,241.90 247,853,241.90 5.009 1 Mechanics Bank Money Market
1690 200814 Mechanics Bank 12/20/2023
30,040,684.93 30,040,684.93 30,040,684.93 4.950 4.950
Subtotal and Average 11,616,840.48 30,040,684.93 30,040,684.93 30,040,684.93 4.950 Total and Average 283,160,257.65 299,409,202.91 299,409,202.91 299,409,202.91 4.925 1 Portfolio CITY
Run Date: 01/11/2024 - 13:59 CP
PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
City of Richmond
Portfolio Management Page 2
Portfolio Details - Cash
December 31, 2023
Average Purchate Stated YTM/C Days to
CUSIP Investment# Issuer Balance Par Value Market Value Book Value Rate S&P 365 Maturit Cash In Banks
SYS200723 200723 Mechanics Bank 11,445,410.71 11,445,410.71 11,445,410.71 0.000 1 Average Balance 0.00 1
Total Cash and Investments 283,160,257.65 310,854,613.62 310,854,613.62 310,854,613.62 4.925 1 Portfolio CITY
CP
Run Date: 01/11/2024 - 13:59 PM (PRF PM2) 7.3.11
City of Richmond
Portfolio Management
Investment Status Report - Investments Page 1
December 31, 2023
Stated Maturity Purchas YTM/C YTM/C Payment Accrued Current CUSIP Investment# Issuer Par Value Rate Date 360 365 Dates Interest Principal Book Value
Local Agency Investment Funds
11-07-003 200676 L-TRAN 0.00 0.278 0.274 0.278 11/30 - Quarterly 0.00
0.00 98-07-724 1000 LAIF 21,515,276.08 3.929 3.875 3.929 07/01 - Quartery 21,515,276.08 21,515,276.08 Local Agency Investment Funds Totals 21,515,276.08 3.875 0.00 21,515,276.08 21,515,276.08
3.929
JPA Pooled Investments (CalTrust)
SYS200595 200595 ALTA 0.00 0.200 0.200 0.203 07/01 - Monthly 0.00 SYS200602 0.00
200810 CALTR- 0.00 0.510 0.510 0.517 12/01 - Monthly 0.00 0.00 SYS200601 200601 CALTRU 247,853,241.90 4.940 4.940 5.009 07/01 - Monthly 247,853,241.90 247,853,241.90 1601111894 200581 GRAY 0.00 0.100 0.100 0.101 07/01 - Monthly 0.00
0.00 JPA Pooled Investments (CalTrust) Totals 247,853,241.90 4.940 5.009 0.00 247,853,241.90 247,853,241.90 Mechanics Bank Money Market
1690 200814 MECHBK 30,040,684.93
4.950 12/20/2023 4.950 01/01 - Monthly 30,040,684.93 30,040,684.93 Mechanics Bank Money Market Totals 30,040,684.93 1.882 4.950 0.00 30,040,684.93 30,040,684.93
Investment Totals 299,409,202.91 4.858 4.925 0.00 299,409,202.91 299,409,202.91 Portfolio CITY
CP
Run Date: 01/11/2024 - 13:59
PM (PRF PMS) 7.3.11
Report Ver. 7.3.11
City of Richmond
Portfolio Management
Investment Status Report - Cash
December 31, 2023
Stated Maturite Purchas YTM/C YTM/C Payment
CUSIP Investment# Issuer Par Value Date 360 365 Dates Book Value Cash In Banks
SYS200723 200723 MECHBK 11,445,410.71 0.000 0.000 07/31 - Monthly 11,445,410.71 11,445,410.71 Cash Totals 11,445,410.71 0.00 11,445,410.71 11,445,410.71 Total Cash and Investments 310,854,613.62 4.858 4.925 0.00 310,854,613.62 310,854,613.62 Portfolio CITY
CP
Run Date: 01/11/2024 - 12:59 PM (DOF_PMS) 7.3.11
CITY OF RICHMOND
CASH BALANCES BY FUND
COMPARATIVE REPORT - December 2022 AND December 2023
December 2022 December 2022 December 2023 December 2023 FUND FUND DESCRIPTION FUND BALANCE TOTAL FUND BALANCE TOTAL % of Change
GENERAL FUND
0001 GENERAL FUND 70,033,732.77 67,122,588.78
General Fund Total 70,033,732.77 67,122,588.78 -4.2%
SPECIAL REVENUE FUNDS
1001 SECURED PENSION OVERRIDE (6,176,493.57) (7,781,119.65) 1002 STATE GAS TAX 668,537.37 1,018,328.08
1003 TRANSPORTATION OPERATIONS (317,109.40) (1,174,508.48) 1004 ASSET SEIZURE FUND 314,389.32 265,141.38
1005 LIBRARY FUND 596,939.41 5,670,323.41
1006 OUTSIDE FUNDED SVCS - GRANTS 2,179,441.81 (4,427,100.42) 1007 EMERGENCY MED SERV 425,368.31 265,099.53
1009 VEOLIA MITIGATION 283,286.21 324,115.62
1010 N.RICHMOND WASTE (212,358.87) 67,274.48
1011 OUTSIDE FUNDED SVCS - DONATION 6,761.75 6,982.18
1012 HILLTOP LANDSCAPE MAINT DIST 608,976.64 140,596.86 1013 HAZMAT FUND (6,208,88)
1015 MARINA BAY LNDSCP & LIGHT DIST 848,151.65 736,375.09 1017 CHEVRON MODERNIZATION PROJECT 15,609,227.57 17,081,071.75 1018 RENT CONTROL 2,226,194.06 2,274,833.57
1019 GAS TAX SEC 201 4,247,032.79 3,371,480.35
1050 CR-PLANNING & BUILDING 12,060,638.60 18,266,578.09 1051 CR-ENGINEERING 626,602.50 698,102.50
1053 CR-CODE ENFORCEMENT (185,139.83) (158,166.83)
1054 ENGINEERING GRANTS (5,386,497.91) (4,326,037.75)
1055 ENCROACHMENT SERVICES 2,454,538.77 3,105,033.97
1200 HOUSING ADMINISTRATION 882,292.39 1,310,988.15
1201 CDBG 1,297,882.69 1,410,677.37
1202 HOME PROGRAM 418,140.25 425,234.95
1203 NEIGHBORHOOD STABILIZATION 73,839.27 66,588.87
1205 EMPLOYMENT & TRAINING 39,995.10 536,726.29
1207 COR-NEIGHBORHOOD STAB(CITY) (107,007.81) (109,346.29) 1208 SUCCESSOR HOUSING AGENCY 2,190,903.36 2,577,424.42 1209 CAL-HOME GRANT FUND 1,080,634.84 1,159,466.94
1302 HOUSING IN LIEU 2,836,708.78 1,778,735.50
1303 KIDS FIRST 3,299,261.56 6,754,275.83
1304 EMERGENCY RECOVERY (72,568.32) 256,293.97
1305 PUBLIC ART 2,120,480.82 2,567,965.75
1306 ARPA 27,258,860.39 24,057,562.09
1307 Transformative Climate Grant (274,140.51)
Special Revenue Funds 72,191,701.62 77,942,857.06 8%
CAPITAL PROJECT FUNDS
2001 GENERAL CAPITAL FUND 2,550,761.75 30,965,766.42
2002 MEASURE J 2,263,084.19 1,611,075.66
2007 HARBOR FUND 45,733.02 47,224.04
2110 IMPACT FEE - PARKS 146,589.93 158,721.08
2111 IMPACT FEE - TRAFFIC 1,513,925.09 1,654,702.79
2113 IMPACT FEE-FIRE 136,989.11 76,719.73
2114 IMPACT FEE - POLICE 770,307.04 616,179.48
2115 IMPACT FEE - COMM/AQUATC 536,314.63 643,468.96
2116 IMPACT FEE - PARKS/OPEN 2,977,848.26 3,179,124.23
2117 IMPACT FEE - LIBRARY 1,845,516.16 1,830,679.75
2118 IMPACT FEE - HILLTOP 31,752.18 32,787.39
2119 IMPACT FEE - STORM DRAINAGE 1,011,399.46 1,075,006.08 2120 IMPACT FEE - WASTEWATER 2,463,534.69 2,451,341.19
2125 SECTION 108 IRON TRIANGLE 260,422.87 228,850.96
2126 HOUSING CIP FUND (166,431.90)
Capital Project Funds Total 16,387,746.48 44,571,647.76 172.0%
DEBT SERVICE FUNDS
3001 DS - 2005 TAXABLE POB (391,264.28) 46,973.73
3002 DS - 99A PENSION OBLIG BOND 82,075.84 77,543.07
3005 DS-2007 REFNDING&CVC CTR (1,284,361.56) (1,694,464.76) Debt Service Funds Total (1,593,550.00) (1,569,947.96) -1.5%
ENTERPRISE FUNDS
4001 PORT OF RICHMOND 13,665,486.07 18,659,482.68
4003 WASTEWATER 40,992,722.64 45,485,158.29
4005 MARINA 4,670,794.94 5,118,318.65
4006 STORMWATER 1,934,726.77 939,430.19
Cash Bal by FUND December 2023, page 1 of 3 1/16/2024
December 2022 December 2022 December 2023 December 2023 FUND FUND DESCRIPTION FUND BALANCE TOTAL FUND BALANCE TOTAL % of Change 4008 KCRT - CABLE TELEVIS 621,527.58 443,918.76
4101 RHA-HSNG CHOICE VOUCHER-SEC 8 759,872.59 1,765,410.06 4102 RHA-HOPE 6 275,141.12 236,457.65
4103 RHA-PROJECT REAL (33,203.52) (33,203.52)
4201 RHA-CAPITAL FUND 27,846.85 418,764.20
4401 RHA-HACIENDA 1,306,339.14 1,215,677.44
4402 RHA-FRIENDSHIP MANOR (14,439.98) (14,439.98)
4403 RHA-TRIANGLE COURT (73,168.83) (73,168.83)
4404 RHA-NEVIN PLAZA 139,045.10 (312,599.59)
4405 RHA-NYSTROM VILLAGE 1,090,275.39 1,215,365.41
4406 RHA-RICHMOND VILLAGE ONE 63,628.49 73,141.97
4407 RHA-RICHMOND VILLAGE TWO 91,194.00 98,968.00
4408 RHA-RICHMOND VILLAGE THREE 5,926.00 8,780.00
4409 RHA-LOCAL FUND 19,892.40 19,892.40
4501 RHA-CENTRAL OFFICE COST CNTR (982,151.45) (1,044,950.51) 4502 RHA - HSG CORP 144,676.54 132,427.13
Enterprise Funds Total 64,706,131.84 74,352,830.40 14.9%
INTERNAL SERVICE FUNDS
5001 INSURANCE RESERVES 51,546,090.04 54,887,142.15
5003 EQUIPMENT SERVICES 5,697,439.69 4,213,203.69
5008 COMP ABSENCES 1,112,424.40 1,744,629.01
Internal Service Funds Total 58,355,954.13 60,844,979.85 4.3%
TRUST & AGENCY FUNDS
6001 GENERAL TRUST & AGENCY 838.38 865.70
6002 JOHNSON TRUST 10,833.59 11,186.80
6004 COMMISSION ON AGING 39,883.73 49,904.25
6005 SEAVER GALLERY TRUST FUND 288,585.59 283,613.34
6006 POLICE GENERAL TRUST 2,691,625.77 1,596,395.13
6007 SENIOR TRUST DEPOSIT 67,146.36 80,780.88
6047 CALPERS CERT ACCT 7,259,846.49 9,574,216.04
6048 OPE PL FUND 32,733,539.36 42,251,810.32
6049 PT MOLATE NAVY GRANT 1,040,538.70 867,131.54
6050 GENERAL PENSION FUND 1,105,844.28 1,053,019.39
6051 POLICE & FIRE PENSION 8,014,130.09 7,781,873.10
6052 GARFIELD PENSION FUND 210,462.76
6056 SAN PABLO 854 ASSES 266,461.40 275,148.67
6057 HARBOR NAVIGATION IM 179,770.98 185,631.94
6058 MARINA WESTSHORE DEB 687,461.64 684,018.67
6059 COUNTRY CLUB VISTA 741,667.87 953,173.87
6060 REASSESSMENT DISTRICT 2003-1 1,857,251.34 1,917,802.04 6061 REGLA CITY 626.12 580.07
6062 SHIMADA CITY 14,749.28 14,682.95
6064 ZHOUSHAN FRIENDSHIP COM. 1,788.71 2,788.71
6999 PAYROLL LIABILITIES FUND (12,069,621.75) (9,547,527.98) Trust & Agency Funds Total 45,143,430.69 58,037,095.43 28.6%
SUCCESSOR AGENCY - FIDUCIARY FUNDS
6101 SA - PROPERTY TAX TRUST FUND 475,718.68 622,186.07 6102 SA-ADMINISTRATION 246,390.50 197,250.64
6103 SA-CAPITAL PROJECT FUNDS 7,715,838.39 8,537,582.08 6300 SA-DS HARBOR 98 TARB 1,214,482.30
6304 SA-DS 2003B TARB 661,423.94 687,302.06
6305 SA-DS 2004A TARB 2/3 1,017,776.48 1,084,360.12
6306 SA-DS 2004A TARB -1/3 HSING 936,031.75 970,220.61
6309 SA-DS 2007/108 TARB - HOUSING 2,149,755.06 2,208,141.04 6401 SA-DS 2014A NON-TAXABLE BONDS 1,313,927.39 1,125,617.69 6403 SA-DS LOANS PAYABLE
6404 SA-DS 2021 ANTB 3,405.32 18,173.00
6405 SA-DS 2021 BTRB (928,69) 50,841.63
6996 SUCCESSOR AGENCY - GLTDAG
6997 SUCCESSOR AGENCY - GFAAG
Successor Agency - Fiduciary Funds 15,733,821.12 15,501,674.94 •1.48%
RHA CONVNL FUNDS
8101 RHA CONVNL
RHA Convni Funds 0.00%
TREASURER'S FUNDS
9999 TREASURER'S FUND - 836,254.58 3,096,416.64
Treasurer's Fund Total 836,254.58 3,096,416.64 270.27%
Cash Bal by FUND December 2023, page 2 of 3 1/16/2024
December 2022 December 2022 December 2023 December 2023 FUND FUND DESCRIPTION FUND BALANCE TOTAL FUND BALANCE TOTAL % of Change TOTAL CASH 341,795,223.23 399,900,142.90 17.00%
Cash Bal by FUND December 2023, page 3 of 3 1/16/2024