Agenda Item No. 3
CITY OF YUCAIPA
AGENDA, REPORT
TO: Honorable Mayor and City Council
FROM: Chris Mann, City Manager/Trea rer('�rij
Phil White, Director of Finance
FOR: City Council Meeting of June 26, 2023
SUBJECT: Monthly Treasurer's Report: May 2023
RECOMMENDATION, -
That the City Council receive and file the Monthly Treasurer's Report for May 2023, BACKGROUND:
To comply with the requirements of California Government Code Section 53607 and the recommendation of California Government Code Section 53646, a treasurer's report is submitted to Council monthly.
DISCUSSION:
It is the responsibility of the Finance staff to develop the Monthly Treasurer's Report in a timely manner for review by the City Manager/Treasurer, and ultimately the City Council. It is the function of the Treasurer to deposit and invest funds in accordance with the Investment Policy of the City of Yucaipa to achieve the stated objectives of safety and preservation of capital, liquidity, and return on investment. The purpose of the Monthly Treasurer's Report is to provide the City Council with a snapshot of the City's cash and investment portfolio.
The balances included in the Treasurer's Report represent the month -end market value of the City's investment portfolio. The portfolio is one component of assets. The City's net position or fund balance (equity) is comprised of all assets less liabilities. As such, the amounts are related but will differ due to accruals and methods of accounting, The City utilizes the Monthly Treasurer's Report as one tool to monitor fiscal performance.
While the City does not have outstanding debt related to bond issuances, the City acts in a fiduciary capacity for the Successor Agency to the former Redevelopment Agency and the Chapman Heights Community Facilities District, both of which maintain outstanding bonds. The City pools cash and investments of all funds, except for assets related to the bond issuances of the Successor 24 Agency and Community Facilities District which are required to be held in separate accounts with fiscal agents in accordance with the bond indentures.
As required by the Investment Policy, the attached Treasurer's Report includes a certification that (1) All investment actions executed since the last report have been made in full compliance with the Investment Policy; and (2) the City will meet its expenditure obligations for the next six months.
FISCAL IMPACT:
There is no fiscal impact.
Attachments:
l . Treasurer's Portfolio Historical Balances
2. Treasurer's Report — May 2023
3. Treasurer Managed Portfolio Summary — May 2023
4, LAIF Quarterly Interest Statement — May 2023
5. Wells Fargo Operating Account — May 2023
G. Investments with Fiscal Agents Summary
25 ATTACHMENT 1
26 Treasury Balances
W,00000.00
$70,000,000.00
$60,000,000.00
$50,000,000.00
$40,000Am00
$30,000,000.00
$20,000,000.00
$10,P00,000.00
July
Augul
Seplem4er
October
November
Oeaamber
January
February
March
Apra
May
lure
22123 1
$56,693,466.33
$54,041,290d7
$50,8379Q.74
$51,907,228.39
$54,149,200.99
$61,051,640.05
$64,433,186.11
$52,152,232.00
$55,Q%7.Ui55
$62,177,595.79
$70,080,867.17
21122
$53,96'4855.83
$50,392,274.39
$48,58gM.12
$4$415,30615
$49,682,593.06
$55,529,795.96
559,178,706.71
$55,262,177.66
$54,424D75.59
$61,175,291.46
$590785,932.01
$58,75$249.77
20f21
$35,493M-69
$32,622,727.88
$30,805y769.95
$30,339A35.62
$34,0K028.21
$40,716,535.04
$5O,627,245.32
$49,877,812.09
$46,138,SaM
$53,50,,485.87
$56,426234.85
$5%294163.32
19120
$4L127 29 &
$35,784672.58
1 $34,4W06.70 I
$32,$$3,04i.68
I $34,A63,706.57
$41,532,702.16 I
$44,337,763.38
$39,31LM-77 I
$36,879,452.35
1 $40,6 Z594,47
$43,716y95&69
$38,543,574.41
ATTACHMENT 2
City of Yucaipa
Treasurer's Report - May 31, 2023
Attachment 2
April 2023
May 2023
Institution/Investment Type
Balance
Balance
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by PFM
Cash and Equivalents
$
100,094.66
$
101,594.24
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$
302,166,43
$
7,291,872.37
U.S. Government Issues
$
32,962,916.78
$
26,161,698.25
Corporate Issues
$
3,506,698.31
$
8,476,418.99
Foreign Issues
$
232,132.60
$
231,427.00
Municipal Issues
$
183,105,00
$
181,102.50
$
37,187,019.12
$
37,342,519.11
Local Agency Investment Fund (LAIF)
$
15,316,139.33
$
20,316,139.33
City Checking Account (Wells Fargo)
$
5,593,934.73
$
8,329,707.90
Petty Cash / Change Drawers
$
3,050.00
$
3,050.00
Total Funds Under Control of the City
$
58,200,237.84
$
66,093,010.58
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1- Invesco Govt Agency Private 1903
$
2,423,722.33
$
2,432,621.85
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$
345.53
$
346.87
RDA 1998 TAB - LAIF
$
45,350.10
$
45,657.00
RDA 2004 TAB - Blackrock Instl Funds
$
152,525,55
$
153,114.02
RDA 2010 TAB - Blackrock Instl Funds
$
372,394.76
$
373,831.54
Total Funds with Fiscal Agents
$
2,994,338.27
$
3,005,571.28
Other:
First American Title - Escrow
$
982,285.31
$
982,285.31
Grand Total
$
62,176,861.42
$
70,080,867.17
1. All investment actions executed since the last report have been made in full compliance with the Investment Policy; and
2. The City will meet its expenditure obligations for the next six months.
Treasurer: --
29 ATTACHMENT 3
30 00224801
22--01-B -62 -157-01
0101-11-04304.01
bank.
SURER MANAGED Page 5 of 38
Period from May 1, 2023 to May 31, 2023
AS _.:: y-u -_._. _.. :y..:- _ _�.:�,-
SlM MANY -
05131l2023
% OF
ASSETS
MARKET VALUE
MARKET
Cash And Equivalents 7,291,872.37
19.50 U.S. Government Issues
26,161,698-25
69.96 Corporate Issues
3,476,418.99
9.30 aowos
Foreign Issues
231,427.00
0.62 Municipal Issues
161,102.50
0.48 Total Assets
37,342,519.11
99.86 Accrued Income
51.050.28
0.14 EQUIV & ACCR i9-64%
31 ATTACHMENT 4
32 615/23, 8:22 AM
LAIF Regular Monthly Statement
California State Treasurer
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
CITY OF YUCAIPA
TREASURER
34272 YUCAIPA BLVD.
YUCAIPA, CA 92399
Account Number: 98-36-999
May 2023 Statement
June 05, 2023
LAIF I-lonie
PMIA Avcr g0janthly-
Ytelds
Trar TY.12e De&iti_ons
Tran Web
Effective Transaction Confirm Confirm
Date DatePe Number Number Authorized Caller
5J312023 5/2/2023 RD 1729045 1689414 PHILLIP WHITE
Account Summary
Total Deposit: 5,000,000.00 Beginning Balance:
Total Withdrawal: 0.00 Ending Balance:
Amount
5,000,000.00
15,316,139.33
20,316,139.33
hltpsallaiims.treasurer.ca.gOVIRegularStatement,aspx 33 tJ1
ATTACHMENT 5
34 Analyzed Business Checking - PF
Account number:- ■ May 1, 2023 -May 31, 2023 ■ Pagel of 6
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34272 YUCAIPA BLVD
YUCAIPA CA 92399-2434
Account summary
Questions?
Call your Customer Service Officer or Client Services
1-800-AT WELLS (1-800-289-3557)
5:00 AM TO 6:00 PM Pacific Time Monday - Friday
Online. wellsfargo.com
Write: Wells Fargo Bank, N.A. 014)
P.O. Box 6995
Portland, OR 97228-6995
Analyzed Business Checking - PF
Accountnumber Beginning balance Total credits Total debits Ending balance $5,593,934,73 $10,435,556.14 7,699,782.97 8,329,707.90
Credits
Deposits
Effective Posted
date
date
Amount
Transaction detail
04/28
05/01
13,036.55
Reversal of Check Posted 4-28-23 Reposted 5-01-23 as Serial 0000013088 Our Ref:4-28-23 D0000000
05/01
50.00 Deposit
05/02
05/03
56.00 Reversal of Check Posted 5-02-23 Reposted 5-03-23 as Serial 0000013073 Our Ref: 5-02-23 00000000
05/03
710.00
Deposit
05/05
112.50
Deposit
05/05
5,410.00
Deposit
05/08
580.00
Deposit
05/10
05/11
1,528.76
Reversal of Check Posted 5-10-23 Reposted 5-11-23 as Serial 0000013254 Our Ref: 5-10-23 00000000
05/12 60.00 Deposit
05/19 720.00 Deposit
$22,263.81 Totalldeposits
Electronic deposits/bank credits
EffeCtive posted
date date
Amount
Transaction detail
05/01
4,507,569.51
Desktop Check Deposit
05/02
3,122.50
05/028ankcard Deposit-0483998756
05/02
82,436.11
Apport 5t of CA Ap5apport5 042723 1927 Yucaipa City Treasurer 05/02
184,544.44
Desktop Check Deposit
05/03
437.50
Turbo Data EFT CC Pmts Yucaipa City of Yucaipa
05/03
2,068.25
05/038ank[ard Deposit-0483998756
05/03
114,925.63
Desktop Check Deposit
02010 wells Fargo Bank, N.A.
All rights reserved. Nkmber FBI[.
(1141
Sheet Seq = 005S156 3 5
Shee100001 of 00006
ATTACHMENT G
36 City of Yucaipa
Investment with Fiscal Agent Summary
IFY 2023
Bank of New York Mellon CFD 98-1
324812 Special AM
324813 interest Acct
88055S COI Acct
890554 Reserve Acct
880555 Admin Exp Acct
5/31/2023
$ 338.15
$ 33,352.71
$ 21,948.85
$ 2,243,450.95
$ 133,531-19
Total $ 2,432,621.85
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds $ 0.24
6711616701 Interest Acct - Blackrock Instl Funds $ 334.45 6711616703 Sinking Am - Blackrock Instl Funds $ 11.99
6711616704 Reserve Acct - Blackrock Instl Funds $ 0.19
6711616704 Reserve Acct - LAIF $ 45,657.00
Total a$ 46,003,87
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds
$
0112
6711740701 Interest Acct - Blackrock Instl Funds
$
8,719.07
6711740702 Principal Acct - Blackrock Irish Funds
$
73.89 6711740703 Reserve Acct - Blackrock Instl Funds
$
144,320.94
Total
$
153,114.02
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds $
373,831.54
37