Agenda Item No. 04
CITY OF YUCAIPA
AGENDA REPORT
TO: Honorable Mayor and City Council
FROM: c�h1thris Mann, City Manager/Treasurer
Phil White, Director of Finance
FOR: City Council Meeting of August 12, 2024
SUBJECT: Monthly Treasurer's Report June 2024
RECOMMENDATION:
That the City Council receive and file the Monthly Treasurer's Report for June 2024.
BACKGROUND/DISCUSSION:
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.
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.
AttapbmPnte-
1. Treasurer's Portfolio Historical Balances
2. Treasurer's Report — June 2024
3. Treasurer Managed Portfolio Summary — June 2024
4. LAIF Quarterly Interest Statement — June 2024
5. Wells Fargo Operating Account — June 2024
6. Investments with Fiscal Agent Summary
ATTACHMENT 1
Treasury Balances -.hyTr K
$80,000,000.00
---------;
------�-
------
- -----. -
- --- -
$70,000,000.00
— --
$60,000,000.00
-- —
--
$50,000,000.00
$40,000, 000.00
$30,000,000.00
$20,000,000.00
$10,000,000.00
$
July
August
September
October
November
December
January
February March April May
June
--FY23/24
$61,413,51
$59,182,26
$57,025,71
$51,054,92
$53,369,53
$58,561,84
$61,526,03
$56,293,88 $56,828,16 $57,155,56 $63,607,10
$63,105,05
FY22/23
$56,693,46
$54,041,29
$50,837,98
$51,507,22
$54,199,20
$61,051,64
$64,433,18
$62,152,23 $55,635,71 $62,177,59 $70,080,86
$63,750,57
------�FY21/22
$53,961,85
$50,392,27
$48,580,10
$48,415,30
$49,682,59
$55,529,79
$59,178,70
$55,262,17 $54,428,07 $61,179,29 $59,785,93
$58,758,24
FY20/21
$35,493,80
$32,622,72
$30,805,76
$30,339,43
$34,088,02
$40,716,53
$50,627,24
$49,877,81 $46,138,82 $53,549,48 $56,426,23
$58,288,16
FY 19/201 $41,127,29 1 $35,780,67 1 $34,468,56 1 $32,883,04 1 $34,465,70 1 $41,532,70 1 $44,337,76 1 $39,311,92 1 $36,879,45 1 $40,602,59 1 $43,716,95 1 $38,543,57
ATTACHMENT 2
City of Yucaipa
Treasurer's Report - June 30, 2024
Attachment 2
May 2024
June 2024
Institution/Investment Type
Balance
Balance
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$
7,142,163.53
$
7,632,747.93
U.S. Government Issues
27,932,059.52
28,002,678.85
Corporate Issues
3,422,053.38
2,999,357.40
Foreign Issues
241,329.90
242,260.90
Municipal Issues
186,990.00
187,724.00
$
38,924,596.33
$
39,064,769.08
Local Agency Investment Fund (LAIF)
$
17,412,513.25
$
17,412,513.25
City Checking Account (Wells Fargo)
$
6,395,019.60
$
5,749,286.17
Petty Cash / Change Drawers
$
2,750.00
$
2,750.00
Total Funds Under Control of the City
$
62,734,879.18
$
62,229,318.50
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1 - Invesco Govt Agency Private 1903
$
279,851.33
$
281,021.38
CFD 98-1 - Cash
$
12,068.98
$
12,068.98
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$
59.90 $
60.17 RDA 1998 TAB - LAIF
$
46,907.65
$
46,907.65
RDA 2004 TAB - Blackrock Instl Funds
$
160,642.87
$
161,349.13
RDA 2010 TAB - Blackrock Instl Funds
$
372,693.27
$
374,331.82
Total Funds with Fiscal Agents
$
872,224.00
$
875,739.13
Grand Total
$
63,607,103.18
$
63,105,057.63
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:
Sign / Date
ATTACHMENT 3
00234401
65- -01-B -82-186-01
0101-11-04304-01
embank.
CITY OF YUCAIPA - TREASURER MANAGED Page 5 of 37
ACCOUNT Period from June 1, 2024 to June 30, 2024
.
06/30/2024
% OF
ASSETS
MARKET VALUE
MARKET
Cash And Equivalents 7,632,747.93
19.43 U.S. Government Issues
28,002,678.85
71.31 Corporate Issues
2,999,357.40
7.64 BONDS
Foreign Issues
242,260.90
0.62 Municipal Issues
187,724.00
0.48 Total Assets
39,064 769.08
99.48 Accrued Income
205,792.32
0.52 Grand Total 39.270.561.40
100.00
EQUIV & ACCR 19.95%
ATTACHMENT 4
7/1/24, 2:33 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:
June 2024 Statement
Account Summary
Total Deposit:
Total Withdrawal:
July 01, 2024
LAIF Home
PMIA Average Monthly_
Yields
Tran Type Definitions
0.00 Beginning Balance:
0.00 Ending Balance:
17,412,513.25
17,412,513.25
hftps:/Aaifms.treasurer.ca.gov/RegularStatement.aspx 1 /1
ATTACHMENT 5
Analyzed Business Checking - PF
Account number: ■ June 1, 2024 - June 30, 2024 ■ Page 1 of 6
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34643 YALE DR
YUCAIPA CA 92399-6860
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 $6,395,019.60 $2,579,121.62-$3,224,855.05 $5,749,286.17 Credits
Deposits
Effective Posted
date
date
Amount
Transaction detail
06/03
06/04
3,900.00
Reversal of Check Posted 6-03-24 Altered Our Ref: 6-03-24 00000000 06/04
100.00
Deposit
06/05
580.00
Deposit
06/05
06/06
2,387.39
Reversal of Check Posted 6-05-24 Refer to Maker Our Ref: 6-05-24 00000000 06/06
25.00 Deposit
06/07
573.00
Deposit
06/07
2,540.00
Deposit
06/07
2,680.00
Deposit
06/14
10.00 Deposit
06/18
390.00
Deposit
06/21
150.00
Deposit
06/21
06/24
113.00
Reversal of Check Posted 6-21-24 Duplicate Our Ref: 6-21-24 00000000 06/25
10.00 Deposit
06/25
580.00
Deposit
06/26
10.00 Deposit
06/28
580.00
Deposit
$14,628.39 Total deposits
Electronic deposits/bank credits
Effective Posted
date date Amount Transaction detail
06/03 1,400.00 Paymentech Transfer 240603 Tyler0005037661 Mun Csh CA Yucaipa Gen 06/03 2,070.96 Stripe Transfer St-R1 S9LOY3M2W7 City of Yucaipa 06/03 333,226.85 Desktop Check Deposit
06/03 1,526.44 ZBA Funding Account Transfer
02010 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC.
(114)
Sheet Seq = 0048607
Sheet 00001 of 00006
ATTACHMENT 6
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2024
6/30/2024
Bank of New York Mellon CFD 98-1
880552 Escrow Acct
$
281,021.38
703129 COI Acct - Cash
$
12,068.98
Total $
293,090.36
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds
$
0.24 6711616701 Interest Acct - Blackrock Instl Funds
$
15.78 6711616702 Principal Acct - Blackrock Instl Funds $
31.29 6711616703 Sinking Acct - Blackrock Instl Funds
$
12.65 6711616704 Reserve Acct - Blackrock Instl Funds
$
0.21 6711616704 Reserve Acct - LAIF
$
46,907.65
Total $
46,967.82
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds
$
0.12 6711740701 Interest Acct -
Blackrock Instl Funds
$
14,685.62
6711740702 Principal Acct
- Blackrock Instl Funds
$
203.92
6711740703 Reserve Acct -
Blackrock Instl Funds
$
146,459.47
Total $
161,349.13
RDA 2010 TAB
6711740705 Reserve Acct -
Blackrock Instl Funds
$
374,331.82