Agenda Item No. 9
CITY OF YUCAIPA
AGENDA REPORT
TO: Honorable Mayor and City Council
FROM: e"'�hris Mann, City Manager/Treasurer
ivPhil White, Director of Finance
FOR: City Council Meeting of May 13, 2024
SUBJECT: Monthly Treasurer's Report March 2024
RECOMMENDATION:
That the City Council receive and file the Monthly Treasurer's Report for March 2024.
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
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:
1. Treasurer's Portfolio Historical Balances
2. Treasurer's Report — March 2024
3. Treasurer Managed Portfolio Summary — March 2024
4. LAIF Quarterly Interest Statement — March 2024
5. Wells Fargo Operating Account — March 2024
6. Investments with Fiscal Agent Summary
ATTACHMENT
$80,000,000.00
$70,000,000.00
$60,000,000.00
$50,000,000.00
$40,000,000.00
$30,000,000.00
!0,000,000.00
o,000,000.00
i
!
1 t
�
......
1 $
July
August
September
October
November
December
January
February
March
April
May
June
• FY23/24
$61,413,518.92
$59,182,268.44
$57,025,711.22
$51,054,925.30
$53,369,537.77
$58,561,840.87
$61,526,031.81
$56,293,880.64
$56,828,167.31
-- FY22/23
$56,693,466.33
$54,041,290.47
$50,837,982.74
$51,507,228.39
$54,199,200.99
$61,051,640.05
$64,433,186.11
$62,152,232.00
$55,635,711.66
$62,177,595.79
$70,080,867.17
$63,750,570.98
�FY21/22
$53,961,855.83
$50,392,274.39
$48,580,108.12
$48,415,306.15
$49,682,593.06
$55,529,795.96
$59,178,706.71
$55,262,177.66
$54,428,07559
$61,179,291.46
$59,785,932.01
$58,758,249.77
• FY20/21
$35,493,808.69
$32,622,727.88
$30,805,769.95
$30,339,435.62
$34,088,028.21
$40,716,535.04
$50,627,245.32
$49,877,812.09
$46,138,828.66
$53,549,485.87
$56,426,234.85
$58,288,163.32
�FY19/20
$41,127,293.89
$35,780,672.58
$34,468,566.70
$32,883,041.68
$34,465,706.57
$41,532,702.16
$44,337,764.36
$39,311,920.77
$36,879,452.35
$40,602,594.47
$43,716,958.69
$38,543,574.41
ATTACHMENT 2
City of Yucaipa
Treasurer's Report - March 31, 2024
Attachment 2
February 2024
March 2024
Institution/Investment Type
Balance
Balance
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$
2,768,135.28
$
2,477,405.44
U.S. Government Issues
$
31,771,037.56
$
32,179,460.07
Corporate Issues
$
3,550,110.13
$
3,534,010.81
Foreign Issues
$
238,527.10
$
239,382.15
Municipal Issues
$
186,184.00
$
186,623.00
$
38,513,994.07
$
38,616,881.47
Local Agency Investment Fund (LAIF)
$
13,261,595.09
$
13,261,595.09
City Checking Account (Wells Fargo)
$
3,309,666.96
$
4,082,088.29
Petty Cash / Change Drawers
$
2,750.00
$
2,750.00
Total Funds Under Control of the City
$
55,088,006.12
$
55,963,314.85
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1 - Invesco Govt Agency Private 1903
$
472,069.51
$
289,630.86
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$
5,683.57
$
59.39 RDA 1998 TAB - LAIF
$
46,411.75
$
46,411.75
RDA 2004 TAB - Blackrock Instl Funds
$
302,889.37
$
159,266.26
RDA 2010 TAB - Blackrock Instl Funds
$
378,820.32
$
369,484.20
Total Funds with Fiscal Agents
$
1,205,874.52
$
864,852.46
Grand Total
$
56,293,880.64
$
56,828,167.31
1. All investment actions executed since the last report have been made in full compliance with the Investment Policy; and
Treasurer:'` ` �—
Sign / Date
ATTACHMENT 3
00241701
22- -01-B -82-095-01
0101-11-04304-01
embank.
CITY OF YUCAIPA - TREASURER MANAGED Page 5 of 44
ACCOUNT Period from March 1, 2024 to March 31, 2024
to
A►SSETSUMMAR.'.Y....
03/31/2024
% OF
ASSETS
MARKET VALUE
MARKET
Cash And Equivalents
2,477,405.44
6.37 U.S. Government Issues
32,179,460.07
82.84 Corporate Issues
3,534,010.81
9.10 Foreign Issues
239,382.15
0.62 Municipal Issues
186,623.00
0.48 Total Assets
38,616,881.47
99.41 Accrued Income
229,113.67
0.59 Grand Total
38,845,995.14
100.00
BONDS
EQUIV & ACCR 6.96%
ATTACHMENT 4
4/2/24, 12:49 PM
LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, cPa
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:
March 2024 Statement
Account Summ
Total Deposit:
Total Withdrawal:
April 02, 2024
LAIF Home
PMIA Average Monthly Yields
Tran Type Definitions
0.00 Beginning Balance:
0.00 Ending Balance:
13,261,595.09
13,261,595.09
https://Iaifms.treasurer.ca.gov/RegularStatement.aspx 1 /1
ATTACHMENT 5
Analyzed Business Checking - PF
Account number: 7100844500 ■ March 1, 2024 - March 31, 2024 ■ Page 1 of 6
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34272 YUCAIPA BLVD
YUCAIPA CA 92399-2434
Account summary
Analyzed Business Checking - PF
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. (114)
P.O. Box 6995
Portland, OR 97228-6995
Accountnumber Beginning balance Total credits Total debits Ending balance $3,309,666.96 $3,102,479.22-$2,330,057.89 $4,082,088.29 Credits
Deposits
Effective Posted
date date
Amount
Transaction detail
03/07
450.00
Deposit
03/07
990.00
Deposit
03/12
1,560.00
Deposit
03/15
100.00
Deposit
03/18
10.00 Deposit
03/19
100.00
Deposit
03/19
100.00
Deposit
03/21
10.00 Deposit
03/26
1,160.00
Deposit
03/29
260.00
Deposit
$4,740.00 Total deposits
Electronic deposits/bank credits
Effective Posted
date date
Amount
Transaction detail
03/01
349.75
Stripe Transfer St-J5SOFOx6A2K2 City of Yucaipa
03/01
9,419.75
03/01 Deposit Capture Bank Card
03/01
17,580.46
County of San Be Achpayment City of Yucaipa
03/04
10.44 Cash Only Customer Deposit
03/04
11.20 Cash Only Customer Deposit
03/04
6,720.54
03/04 Deposit Capture Bank Card
03/04
16,636.63
Desktop Check Deposit
03/04
19,012.06
ZBA Funding Account Transfer
03/05
100.00
Desktop Check Deposit
03/05
325.00
Turbo Data EFT CC Pmts Yucaipa City of Yucaipa
©2010 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC.
(114)
Sheet Seq = 0048356
Sheet 00001 of 00006
ATTACHMENT 6
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2024
3/31/2024
Bank of New York Mellon CFD 98-1
324812 Special Acct
$
4,794.28
324813 Interest Acct
$
96,201.90
703129 COI Acct
$
12,068.98
703130 Special Tax Acct
880553 COI Acct
$
22,862.02
880554 Reserve Acct
$
14,617.18
880555 Admin Exp Acct
$
139,086.52
Total
$
289,630.88
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct -
Blackrock Instl Funds
$
0.24 6711616701 Interest Acct
- Blackrock Instl Funds
$
15.57 6711616702 Principal Acct
- Blackrock Instl Funds
$
30.88 6711616703 Sinking Acct -
Blackrock Instl Funds
$
12.49 6711616704 Reserve Acct
- Blackrock Instl Funds
$
0.21 6711616704 Reserve Acct
- LAIF
$
46,411.96
Total
$
46,471.35
RDA 2004 TAB
6711740700 Project Acct -
Blackrock Instl Funds
$
0.12 6711740701 Interest Acct -
Blackrock Instl Funds
$
14,501.59
6711740702 Principal Acct
- Blackrock Instl Funds
$
201.28
6711740703 Reserve Acct
- Blackrock Instl Funds
$
144,563.27
Total $
159,266.26
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds
$ 369,484.20