Agenda Item No.
CITY OF YUCAIPA
AGENDA REPORT
TO: Honorable Mayor and City Council
FROM: Chris Mann, City Manager/Treasurer
Phil White, Director of Finance
FOR: City Council Meeting of October 28, 2024
SUBJECT: Monthly Treasurer's Report September 2024
RECOMMENDATION:
That the City Council receive and file the Monthly Treasurer's Report for September 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 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 investment portfolio. The balances included in the Monthly Treasurer's Report represent the market value of the City's investments.
The City utilizes the Monthly Treasurer's Report as one tool to monitor fiscal performance. The City's net position or fund balance (equity) is comprised of assets less liabilities. The portfolio is just one component of assets. The portfolio balance will fluctuate based on investment performance (yield) as well as timing of cash inflows (revenue collection) and cash outflows (expenditure payments).
The yield for the investment held with the Local Agency Investment Fund (LAIF) was 4.575% in September.
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 Monthly 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 Report — September
2. Treasurer Managed Portfolio Summary — September
3. LAIF Quarterly Interest Statement — September
4. Wells Fargo Operating Account — September
5. Investments with Fiscal Agent Summary — September
ATTACHMENT
City of Yucaipa
Treasurer's Report - September 30, 2024
Attachment 1
August 2024
September 2024
Institution/Investment Type
Balance
Balance
Funds Under Control of the City:
Held in U.S. Bank Custody Account
$
39,717,785.30
$
39,988,966.93
Local Agency Investment Fund (LAIF)
$
10,584,694.41
$
10,584,694.41
City Checking Account
$
4,558,154.81
$
4,130,582.29
Petty Cash / Change Drawers
$
2,750.00
$
2,750.00
Total Funds Under Control of the City
$
54,863,384.52
$
54,706,993.63
Funds with Fiscal Agents:
Bank of New York Mellon (Chapman Heights)
CFD 98-1 - Invesco Govt Agency Private 1903
$
1,535,443.98
$
12,068.98
CFD 98-1 - Municipal Bond Insurance Policy
$
-
$
1.00 CFD 98-1 - Cash
$
-
$
281,932.11
$
1,535,443.98
$
294,002.09
U.S. Bank (Successor Agency)
RDA 1998 TAB - Blackrock Instl Funds
$
35,705.22
$
743.09
RDA 1998 TAB - LAIF
$
47,932.81
$
47,414.78
RDA 2004 TAB - Blackrocl< Instl Funds
$
508,631.85
$
161,936.81
RDA 2010 TAB - Blackrocl< Instl Funds
$
377,581.98
$
367,692.87
$
969,851.86
$
577,787.55
Total Funds with Fiscal Agents
$
2,505,295.84
$
871,789.64
Grand Total
$
57,368,680.36
$
55,578,783.27
All investment actions executed since the last report have been made in full compliance with the Investment Policy; and
The City will meet its expenditure obligations for the next six months.
Treasurer:
Sign / Date
ATTACHMENT 2
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ATTACHMENT 3
10/15/24, 12:14 PM
LAIF Regular Monthly Statement
.. !t11c
Fiona Ma, cPA
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
CITY OF YUCAIPA
TREASURER
34272 YUCAIPA BLUR.
YUCAIPA, CA 92399
Account Number:
September 2024 Statement
Account Summary.
Total Deposit:
Total Withdrawal:
October 15, 2024
LAfF Home
PMIAAverage -"Llvl ._-:a1v
izlds
Tran Type Definitions
0.00 Beginning Balance: 10,584,694.41
0.00 Ending Balance: 10,584,694.41
https:Hlaifms.treasurer.ca.gov/RegularStatement.aspx 1/1
ATTACHMENT 4
Analyzed Business Checking - PF
Account number: ■ September 1, 2024 - September 30, 2024 ■ Page 1 of 7
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34643 YALE DR
YUCAIPA CA 92399-6860
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. (114)
P.O. Box 6995
Portland, OR 97228-6995
Analyzed Business Checking - PF
Accountnumber Beginning balance Total credits Total debits Ending balance $4,558,154.81 $1,986,661.73-$2,414,234.25 $4,130,582.29 Credits
Deposits
Effective Posted
date date
Amount
Transaction detail
09/06
2,660.00
Deposit
09/06
8,053.00
Deposit
09/09
350.00
Deposit
09/11
1,400.00
Deposit
09/12
140.00
Deposit
09/16
490.00
Deposit
09/24 09/25
4,926.34
Reversal of Check Posted 9-24-24 Reposted 9-25-24 as Serial 0000017138 Our Ref: 9-24-24 00000000
09/26
225.00
Deposit
09/27
25.00 Deposit
$18,269.34 Total deposits
Electronic deposits/bank credits
Effective Posted
date date
Amount
Transaction detail
09/03
197.00
09/03Bankcard Deposit
09/03
225.00
09/0313ankcard Deposit
09/03
456.00
09/0313ankcard Deposit -
09/03
584.04
Paymentech Transfer Tyler Mun Csh CA Yucaipa Gen
09/03
927.00
09/0313ankcard Deposit
09/03
1,157.00
09/0313ankcard Deposit
09/03
1,546.38
American Express Settlement 2 Comm Devt
09/03
1,559.00
Paymentech Transfer Tyler Eg Css CA Yucaipa Comm
09/03
17,082.51
County of San Be Achpayment City of Yucaipa
09/03
27,880.85
ZBA Funding Account Transfer
02010 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC.
(114)
Sheet Seq = 0046511
Sheet 00001 of 00007
ATTACHMENT 5
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2025
9/30/2024
Bank of New York Mellon CFD 98-1
703130 Special Tax Acct - Invesco Govt Agency Private 1903 $
12,068.98
703132 Principal AC - Cash
$
281,932.11
703132 Principal AC - Municipal Bond Insurance Policy
$
1.00 $
294,002.09
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds
$
0.24 6711616701 Interest Acct - Blackrock Instl Funds
$
685.49
6711616702 Principal Acct - Blackrock Instl Funds
$
31.70 6711616703 Sinking Acct - Blackrock Instl Funds
$
25.66 6711616704 Reserve Acct - LAIF
$
47,414.78
$
48,157.87
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds
$
0.12 6711740701 Interest Acct - Blackrock Instl Funds
$
16,753.20
6711740702 Principal Acct - Blackrock Instl Funds
$
176.26
6711740703 Reserve Acct - Blackrock Instl Funds
$
145,007.23
$
161,936.81
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds $ 367,692.87