Agenda Item No.
CITY OF YUCAIPA
AGENDA REPORT
TO: Honorable Mayor and City Council
FROM: (/4iiChris Mann, City Manager/Treasurer
Phil White, Director of Finance
FOR: City Council Meeting of June 24, 2024
SUBJECT: Monthly Treasurer's Report May 2024
RECOMMENDATION:
That the City Council receive and file the Monthly Treasurer's Report for May 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 — May 2024
3. Treasurer Managed Portfolio Summary — May 2024
4. LAIF Quarterly Interest Statement — May 2024
5. Wells Fargo Operating Account — May 2024
6. Investments with Fiscal Agent Summary
ATTACHMENT 1
CITY OF YUCAIPA
�FY23/24
FY22/23
FY21/22
iFY20/21
iFY 19/20
July
$61,413,51892
$56,693,466.33
$53,961,855.83
$35,493,808.69
$41,127,293.89
August
$59,182,268.44
$54,041,290.47
$50,392,274.39
$32,622,727.88
$35,780,67258
September
$57,025,711.22
$50,837,982.74
$48,580,108.12
$30,805,769.95
$34,468,566.70
October
$51,054,925.30
$51,507,228.39
$48,415,306.15
$30,339,435.62
$32,883,041.68
November
553,369,537.77
554,199,200.99
$49,682,593.06
534,088,028.21
December
$58,561,840.87
561051,640.05
$55,529,79596
$40,716,535.04
$34,465,706.57 541,532,702.16
January
561,526,031.81
$64,433,186.11
$59,178,706.71
$50,627,245.32
544,337,764.36
February
$56,293,880.64
562,152,232.00
$55,262,177.66
549,877,812.09
$39,311,920.77
March
$56,828,167.31
$55,635,71166
554,428,075.59
$46,138,828.66
536,879,452.35
Almil
$57,155,563.20
562,177,595.79
$61,179,29L46
$53,549,485.87
May
540,602,594.47
$63,607,103.39
570,080,867.17
559,785,932.01
$56,426,234.85
543,716,958.69
June
$63,750,570.98
558,758,249.77
558,288,163.32
$38,543,574.41
ATTACHMENT 2
City of Yucaipa
Treasurer's Report - May 31, 2024
Attachment 2
Institution/Investment Type I
April 2024
Balance
May 2024
Balance
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$ 4,280,730.43
$ 7,142,163.53
U.S. Government Issues
30,762,633.72
27,932,059.52
Corporate Issues
3,112,678.94
3,422,053.38
Foreign Issues
240,286.20
241,329.90
Municipal Issues
185,934.00
186,990.00
$ 38,582,263.29
$ 38,924,596.33
Local Agency Investment Fund (LAIF)
$ 15,412,513.25
$ 17,412,513.25
City Checking Account (Wells Fargo)
$ 2,289,198.82
$ 6,395,019.60
Petty Cash / Change Drawers
$ 2,750.00
$ 2,750.00
Total Funds Under Control of the City
$ 56,286,725.36
$ 62,734,879.18
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1 - Invesco Govt Agency Private 1903
$ 278,723.51
$ 279,851.33
CFD 98-1 - Cash
$ 12,068.98
$ 12,068.98
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$ 59.65
$ 59.90
RDA 1998 TAB - LAIF
$ 46,907.65
$ 46,907.65
RDA 2004 TAB - Blackrock Instl Funds
$ 159,962.72
$ 160,642.87
RDA 2010 TAB - Blackrock Instl Funds
$ 371,115.33
$ 372,693.27
Total Funds with Fiscal Agents
$ 868,837.84
$ 872,224.00
Grand Total
$ 57,155,563.20
$ 63,607,103.18
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: - ?h " Z
Sign / Date
ATTACHMENT 3
00211901
65- -01-B -82-158-01
0101-11-04304-01
CITY OF YUCAIPA - TREASURER MANAGED
ACCOUNT
<ASSET:SUMMARY < .
ASSETS
05/31/2024
MARKET VALUE
%
MARKET
Cash And Equivalents
U.S. Government Issues
Corporate Issues
Foreign Issues
Municipal Issues
7,142,163.53
27,932,059.52
3,422,053.38
241, 329.90
186,990.00
18.28 71.50
8.76 0.62
0.48 Total Assets
38.924.596.33 99.64
Accrued Income
141,409.75 0.36
Grand Total
39,066,006.08 100.00
embank.
Period from May 1, 2024 to May 31, 2024
BONDS 81.36%
CASH EQUIV & ACCR 18.64%
ATTACHMENT 4
6/17/24, 4:28 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
June 17, 2024
LAIF Home
PMIA Average Monthly
Yields
CITY OF YUCAIPA
TREASURER
34272 YUCAIPA BLVD.
YUCAIPA, CA 92399
Account Number:
May 2024 Statement
Effective Transaction Tran Confirm
Date Date Type Number
5/17/2024 5/15/2024 RW 1753265
5/30/2024 5/30/2024 RD 1753697
Account Summary
Total Deposit:
Total Withdrawal:
Web
Confirm
Number
1713692
1714129
Tran Type Definitions
l
Authorized Caller
PHILLIP WHITE
PHILLIP WHITE
4,000,000.00 Beginning Balance:
-2,000,000.00 Ending Balance:
Amount
-2,000,000.00
4,000,000.00
15,412,513.25
17,412,513.25
https://laifms.treasurer.ca.gov/RegularStatement.aspx
1/1
ATTACHMENT 5
Analyzed Business Checking - PF
Account number: ■ May 1, 2024 - May 31, 2024 ■ Page 1 of 7
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34643 YALE DR
YUCAIPA CA 92399-6860
w..LS
FARGO
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
Account summary
Analyzed Business Checking - PF
Account number Beginning balance
$2,289,198.82
Total credits
$11,349,028.32
Total debits
-$7,243,207.54
Ending balance
$6,395,019.60
Credits
Deposits
Effective Posted
date date
Amount Transaction detail
05/01 150.00 Deposit
05/07 150.00 Deposit
05/07 5,022.00 Deposit
05/07 7,433.00 Deposit
05/08 140.00 Deposit
05/10 10.00 Deposit
05/14 100.00 Deposit
05/15 20.00 Deposit
05/17 200.00 Deposit
05/20 10.00 Deposit
05/20 1,160.00 Deposit
05/28 05/29 212.10 Reversal of Check Posted 5-28-24 Reposted 5-29-24 05/29
580.00 Deposit
$15,187.10 Total deposits
Electronic deposits/bank credits
Effective Posted
date date
Amount Transaction detail
05/01 757.19 Stripe Transfer St-Z7U9E4J6W4Q9 City of Yucaipa 05/01 2,071.00 05/01 Deposit Capture Bank Card
05/01 7,902.26 Desktop Check Deposit
05/02 11.83 Paymentech Transfer 240502 Tyler0005037697 Eg Css CA Yucaipa Comm 05/02 239.95 Stripe Transfer St-W4E5C4G2A9V8 City of Yucaipa 05/02 6,495.20 05/02 Deposit Capture Bank Card
02010 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC.
(114)
Sheet Seq = 0048472
Sheet 00001 of 00007
ATTACHMENT 6
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2024
5/31/2024
Bank of New York Mellon CFD 98-1
324812 Special Acct - Invesco Govt Agency Private 1903 $ 4,833.85 324813 Interest Acct - Invesco Govt Agency Private 1903 $ 96,995.39 703129 COI Acct - Cash $ 12,068.98
703130 Special Tax Acct - Invesco Govt Agency Private 1903 $ 880553 COI Acct - Invesco Govt Agency Private 1903 $ 23,050.59 880554 Reserve Acct - Invesco Govt Agency Private 1903 $ 14,737.73 880555 Admin Exp Acct - Invesco Govt Agency Private 1903 $ 140,233.77 Total $ 291,920.31
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds $ 0.24
6711616701 Interest Acct - Blackrock Instl Funds $ 15.71 6711616702 Principal Acct - Blackrock Instl Funds $ 31.15 6711616703 Sinking Acct - Blackrock Instl Funds $ 12.59 6711616704 Reserve Acct - Blackrock Instl Funds $ 0.21
6711616704 Reserve Acct - LAIF $ 46,907.65
Total $ 46,967.55
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds $ 0.12
6711740701 Interest Acct - Blackrock Instl Funds $ 14,621.34 6711740702 Principal Acct - Blackrock Instl Funds $ 203.03 6711740703 Reserve Acct - Blackrock Instl Funds $ 145,818.38 Total $ 160,642.87
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds $ 372,693.27
TREASURER REPORT - MAY 2024
1 COUNCIL MEETING JUNE 24, 2024 1
Task
Treasurer Report SR Routing
DUE
DATE
6/17
DONE
5/28
SR Monthly Treasurer Report (Check Verbiage)
6/17
5/28
Attachments:
1. Treasurers Historical Balance - May
6/17
6/18
2. Treasurer Report (update from Skyler's report)
6/17
6/18
3. Treasurer's Managed Portfolio (US Bank Investment
Statement - Treasurer Managed) Highlight Total Assets
6/17
6/18
4. Banking & Investments (LAIF regular statement. 1 page with picture of Fiona)
6/17
6/18
5. Wells Fargo Statement (Operating Account. Keep only
1st back & redact any account #s and delete the word
redacted from title)
6/17
6/18
6. Investment with Fiscal Agent Summary (see Skyler's YTD summary. Hide previous month and show BNY Mellon to
RDA. Delete escrow item "not included in report" Verify math, print to PDF and save.
6/17
6/18
Additional Notes:
• Sign here arrow on attachment 2
6/17
6/18
• Flag attachments for Ana
6/17
6/18
• Route to Phil to review and initial
6/17
6/18
• Place in Ana's office - Staff Report Inbox
6/17
Once approval email is received:
1. Route to Council & Commissions hub
6/21
2. Document Library
3. Find Meeting date
4. Drag & Drop into month report folder