03. SEPTEMBER 30, 2015o�
City of Eastvale
City Council Meeting Agenda
Staff Report
MEETING DATE: DECEMBER 9, 2015
TO: HONORABLE MAYOR AND COUNCIL MEMBERS
FROM: JAMES R. RILEY, INTERIM FINANCE DIRECTOR
SUBJECT: TREASURER'S REPORT — QUARTER ENDED SEPTEMBER 30,
2015
RECOMMENDATION: RECEIVE AND FILE THE CITY TREASURER'S REPORT
BACKGROUND:
In accordance with Resolution 11-02, City of Eastvale's Investment Policy, adopted January 12,
2011, the City Treasurer is required to submit a quarterly treasurer's report to the City Council.
The report shall include types of investments, investment ratings, institutions involved, dates of
purchases, dates of maturity, amount of deposits or cost of the security, current market value of
the securities, interest rates, investment fund balances and a statement that there are sufficient
funds to meet the City's cash obligations.
DISCUSSION:
With the recent additions to the City's investment portfolio, staff has developed a more detailed
Investment Report to be presented to Council. The result are two schedules which will allow
Council to review the total cash available to the City and to review the types of investments that
the City of Eastvale holds and the pertinent details of those investments.
Schedule 1, Schedule of Investments, includes a breakdown of the City's investments by "Active"
or "Inactive" Deposits. "Active Deposits" are those accounts which receive revenues, whereas
"Inactive Deposits" are available for use but are not earning revenues. Moreover, the City's
investments are presented at par value (face value), book value, and market value and with all
supplemental information as required by the City's investment policy.
City of Eastvale
1 ' City Council Meeting Agenda
Staff Report
Schedule 2, Dash Board Report Card, consists of four sections:
I. Cash Flow - This section compares the Active and Inactive Deposits at June 30 for the
prior two fiscal years and the three months for the current quarter. Additionally, this
section shows the change in Active Deposits from each of the compared periods.
II. Liquidity Calculation - Liquidity is amount of capital that is available for investment or
spending. Liquidity is determined by means of a calculation using monthly cash balances
and expenditures reduced by reserve requirements.
III. Portfolio Diversification - This section reflects the diversification of the City of Eastvale's
portfolio by both type of instrument and length of maturity.
IV. Portfolio Performance Measures - The section gives a comparison of the City's investment
yields compared to various treasury benchmarks. This section also compares budget to
actuals in the area of interest earned.
The City of Eastvale's Schedule of Investments is in compliance with the City's Investment Policy.
The City has sufficient funds to meet its expenditure requirements for the next six months. Total
cash and investments at September 30, 2015 is $46,199,238.76 (book value). Interest income
earned through September 30, 2015 is $33,489.59.
FISCAL IMPACT:
No budget or fiscal impact.
STRATEGIC PLAN IMPACT:
Goal 1: Establish a solid fiscal foundation for the City
ATTACHMENTS:
1. Schedule of Investments - September 30, 2015
2. Dash Board Report Card September 30, 2015
Prepared by James R Riley, Interim Finance Direct. it
Reviewed by: Michele Nissen, City Manager
John Cavanaugh, City Attorney
City of Eastvale
Schedule of Investments
As of September 30, 2015
Book Value (Fair Value)
Par Price @ Market Accrued Purchase Maturity
Institution Value Cost Value Interest Yield Date Date
ACTIVE DEPOSITS
Money Market Accounts:
Citizens Business Bank - Money Market S 4,923,662.14 S 4,923,662.14 $ 4.923,662.14 0.350% N/A N: A
Total Money Market $ 4,923,662.14 $ 4,923,662.14 $ 4,923,662,14 0.350%
Pooled Investment Accounts:
Local Agency Investment Fund $ 25,737,073.20 S 25,737,073.20 $ 25,752,377.65 0.337% NIA NIA
Total Pooled Investment S 25,737,073.20 S 25,737,073.20 $ 25,752,377.65 0.337%
Certificates of Deposit:
Capital One NA McLean VA CD
$
248,000.00
S
248,000.00
$
247,985.12
$
78.69
1.650%
09/16/15
09/24/18
GE Cap Bk Salt Lake City UT CD
$
248,000.00
$
248,000.00
S
248,634.88
S
6I.31
0.900%
09/18/13
03/21/16
Discover Bk Greenwood DE CD
$
248,000.00
$
248,000.00
$
249,455.76
S
40,87
1.200%
09/18/13
09/26/16
Sallie Mae Bank Salt Lake City UT CD
$
248,000.00
$
249,000.00
$
249,371.44
S
789.73
1.050%
12/04/13
12/12/16
Firstbank PR Santurce CD
S
249,000.00
S
249,000.00
S
249,278.89
S
88.18
0.7500/c
12/05/13
12/14/15
Flushing Bank NY CD
S
249,000,00
$
249,000.00
S
250,060.74
S
77.81
0.750%
12/11/13
06/30/16
Rollstone Bank Fitchburg MA CD
S
249,000.00
$
249,000.00
S
249,196.71
S
253.05
0.550%
01/14/14
01/25/16
BMW Bank NA Salt Lake City UT CT
S
249,000.00
$
249,000.00
S
249,166.83
$
159.00
0.500%
02/10/14
02/16/16
Bank Baroda New York NY CD
$
248,000.00
$
249,000,00
$
249,202.80
S
505.43
1.000%
01/I4/14
01/17/17
GE Cap Ret Bk Draper UT CD
$
248,000.00
S
248,000.00
$
248,748.96
$
332.57
1.050%
02/10/14
02/17/17
Goldman Sachs New York NY CD
S
248,000.00
S
248,000,00
S
248,602.64
$
78.69
1.050%
03/11/14
03/20/17
Community & South Atlanta GA CD
S
249,000.00
S
249,000.00
$
249,398,40
$
591.88
0.500%
04/02/14
04/08/16
Key Bank CD Cleveland OH CD
$
249,000.00
S
249,000.00
$
249,824.19
$
681.68
0.600%
04/02/14
10/17/16 -
Private Bank & TC Chicago Ill CD
$
248,000.00
S
248,000.00
$
248,724,16
$
1,131.58
1.000%
04/02/14
04/17/17
Citizens State Bank CD Okemah OK CD
$
249,000.00
S
249,000.00
$
249,356.07
S
62.15
0.5001/o
05/06/14
05/12/16
Barclays Bank CD Wilmington DE CD
$
248,000.00
S
248,000.00
$
248,498.48
$
1,037.82
1.100%
05/06/14
05/15/17
Synovus Bank CD Columbus GA CD
$
249,000,00
S
249,000.00
$
249,754.47
S
700.31
0.750%
05/06/14
I 1/15/16
Home Bank CD Lake Mary FL CD
$
249,000.00
S
249,000.00
$
247,501.20
$
240.70
1.200%
03/10/15
03/29/18
Ally Bk Midvale UT CD
$
248,000,00
$
248,000.00
$
247,930.56
$
28.61
1.050%
03/17/15
09/26/17
Amex Centurion Salt Lake City UT CD
S
248,000.00
$
248,000.00
S
245,929.20
$
1,102.78
1.050%
06/09/15
06/18/18
Total Certificates of Deposit
$
4,969,000.00
$
4,969,000.00
$
4,976,621.49
S 8,042.84
ACTIVE DEPOSITS TOTAL
S
35,629,735.34
$
35,629,735.34
S
35,652,661.28
0.419%
INACTIVE DEPOSITS
Checking Account:
Citizens Business Bank - Checking S 13,387,050.80 $ 13,387,050,80 0.0000/0 N/A N/A
Total S 13,387,050.80 $ 13,387,050.80 0.000%
INACTIVE DEPOSITS TOTAL
GRAND TOTAL CASH
S 13,387,050.80 S 13,387,050.80
S 49,016,786.14 S 49,039,712.08
Per Government Code requirements, the Investment Report is in compliance with the City of
Eastvale's Investment Policy, and there are adequate funds available to meet
budgeted and actual expenditures for the next six months.
James R. Riley, Interim Finance Director
11/10/2015
City of Eastvale
Dash Board Report Card
As of September 30, 2015
JUNE JUNE JULY AUGUST SEPTEMBER
FY 2013-14 FY 2014-15 FY 2015-16 FY 2015-16 FY 2015-16
I. CASH FLOW
ACTIVE DEPOSITS
Book Value Price ® Cost
Citizen's Business Bank - Money Market
$
2,910,040 37
$
2,920.222 08
$ 2,921,090 15
S
4,922,246.15
$
4,923,662 14
LA1F
$
20,671,336.74
$
25,721,881 36
$ 2$,737,073.20
$
25,737.073 20
$
25,737,073.20
Treasury Bills
S
-
$
-
$ -
$
-
$
-
CD - Ally Bk Midvale Utah CD
S
249,000 00
S
$ -
$
-
$
-
CD - ST Bk of India CD New York NY CD
$
248,000 00
$
248,000.00
$ 248,000 00
$
248,000 00
$
-
CD - GE Cap Bk Salt Lake City UT CD
$
248,000 00
$
248,000.00
S 248,000 00
$
248,000 00
S
248,000 00
CD - Discover Bk Greenwood DE CD
$
248,000 00
$
248,000.00
S 248,000 00
$
248,000 00
$
248,000.00
CD - Beal Bank USA Las Vegas NV CD
$
249,000 00
$
-
$ -
$
-
$
-
CD - Firstbank PR Santurce CD
$
249,000 00
S
249,000.00
S 249,000 00
$
249,000 00
$
249,000 00
CD - Flushing Bank NY CD
$
249,000 00
S
249,000.00
$ 249,000 00
S
249,000 00
$
249,000 00
CD - Sallie Mae Bank Salt Lake City UT CD
$
248,000.00
$
248,000.00
$ 248,000 00
$
248,000 00
S
248,000 00
CD - Rollstonc Bank Fitchburg MA CD
S
249,000.00
S
249,000.00
$ 249,000 00
$
249,000.00
$
249,000 00
CD - Bank Baroda New York NY
$
249,000.00
$
248,000.00
$ 248,000 00
$
248,000.00
$
248,000 00
CD - BMW Bank NA Salt Lake City UT
S
249,000.00
$
249.000,00
S 249,000 00
$
249,000.00
S
249,000 00
CD - Dora] Bank Catano PR
$
249,000A0
$
-
$ -
$
-
S
-
CD - GE Cap Ret Bk Draper UT
$
248,000.00
$
248,000 00
$ 248,000.00
$
248,000.00
S
248,000 00
CD - Goldman Sachs New York NY
$
248,000.00
$
248,000 00
$ 248,000.00
$
248.000.00
S
248,000 00
CD - Community & South Atlanta GA CD
$
249,000.00
$
249,000 00
S 249,000 00
$
249,000.00
S
249,000 00
CD - Key Bank CD Cleveland OH CD
$
249,000.00
S
249,000 00
S 249,000.00
S
249,000.00
$
249,000 00
CD - Private Bank & TC Chicago Ill CD
$
248,000.00
$
248,000 00
$ 248,000.00
S
248,000,00
$
248.000 00
CD - Citizens State Bank CD Okemah OK CD
S
249.000,00
$
249,000 00
$ 249,000.00
$
249,000 00
$
249,000 00
CD - Barclays Bank CD Wilmington DE CD
$
248,000 00
$
248,000 00
S 248,000.00
$
248,000 00
$
248,000 00
CD - Synovus Bank CD Columbus GA CD
S
249,000 00
$
249,000.00
S 249,000.00
$
249,000 00
$
249,000 00
CD - Home Bank CD Lake Mary FL CD
$
-
$
249,000.00
S 249.000 00
$
249,000 00
$
249,000.00
CD - Ally Bk Midvale UT CD
$
-
$
248,000.00
$ 248,000 00
$
248,000 00
$
248,000.00
CD - Amex Centurion Salt Lake City UT CD
$
-
$
248,000.00
$ 248,000 00
$
248,000 00
$
248,000.00
CD - Capital One NA Mclean VA CD
$
S
-
$
$
-
$
248.000 00
ACTIVE DEPOSIT TOTALS
$ 28,552,37711
$ 33.611,10344
$ 33,627,16335
$ 35,628,319.35
$ 35,629,73534
INACTIVE DEPOSITS
Citizen's Business Bank - Checking
$
5,824,630.65
$
12,588.135 32
$ 15,789.931.32
$
12226.157.01
S
13,387,050 80
INACTIVE DEPOSITS TOTALS $ 5,824,630.65 $ 12,588,135 32 S 15,789,931.32 $ 12.226,157.01 S 13,387,050 80
GRAND TOTAL CASH $ 34.377,007 76 $ 46,199,238 76 $ 49,417,094 67 S 47,854,476.36 S 49,016,786 14
Change in Active Deposits from Prior Period $ 13,522,063,89 S 5,058,726 33 $ 16,059.91 S 2,001,156,00 $ 1,415.99
11. LIOUIDITY CALCULATION
Liquidity
Average Cash Balance
$ 28,983,040 77 $ 39,408,274.93
$ 29,386,091 19 $ 39,026,258.28
Emergency Reserve (to be established by policy) $ 9,264,117 98 S 9,126,291.23
Six Month Cash Reserve $ 9,264,117 98 $ 9,126,291 23
S 41,417,413.47
S 42,463.916.41
S 9,164,742.13
S 9,164,742.13
Available Reserve for Longer Term Investment S 19,289,259.13 S 24,484,812 21 S 32,252,671 35
a�ti►s,,.
III. PORTFOLIO DIVERSIFICATION
DIVERSIFICATION BY INSTRUMENT
Money Market
LAIF
Treasury Bills
Certificates of Deposit
DIVERSIFICATION BY MATURITY
Less Than 90 Days
90 Days (13 Weeks)
Six Months (26 Weeks)
One Year (52 Weeks)
Two Years (104 Weeks)
Three Years (156 Weeks)
JUNE JUNE
FY 2013-14 FY 2014-15
City of Eastvale
Dash Board Report Card
As of September 30, 2015
JULY AUGUST SEPTEMBER
FY 2015-16 FY 2015-16 FY 2015-16
10.19%
8 69%
8.69%
13 82%
13 82%
72 40%
76 53%
76.54%
72.24%
72 23%
0.006A
0 00%
0 00%
0 00%
0 00%
17 41 %
14 78%
14 78%
13 95%
13.95%
100.00%
100.00%
100 00%
100 009/0
100.00%
82 59%
85.95%
86 75%
0.00%
0.00%
0.00%
0 00%
0.74%
2,09%
1.74%
1109%
9.06%
6.10%
2.22%
2.09%
9.57%
0 000/0
0.00%
100.00%
100.00%
100,00%
IV. PORTFOLIO PERFORMANCE MEASURES
Yield at Cost Month
BENCHMARKS
6 Month CD
I Year CD
90 Day T-Bill
2 Year Treasury
10 Year Treasury
Annual Interest Budget
Money Market
Treasury Bills
Certificate of Deposits
LAIF
LAIF Mark to Market
Total Period Interest Earned
Total YTD Interest Earned
Over/(Under) Annual Budget
% of Annual Budget
0 339°%
0 388° 4
0.419%
023
030
D 31)
090
055
0.50
004
0.01
0.14
045
067
083
2.64
242
226
$ 25,129.00 S 33,05000 $
S 7,966.11
S 10,194 7l $
S 17,323.26
$ 42,104 83 S
$ 46,588.16
$ 54,335 30 $
$ 6,17557
$ 9.67089 S
$ 78,053.10
$ 116,305 73 S
$ 78,05310
$ 116,305.73 $
$ 52,92410
$ 83,255.73 $
310 610%
351.908%
48,070 00 $ 48,070.00 $ 48,070 00
868.07
$ 1,156.00
$ 1,415.99
-
S -
S
1,88471
S 3,264.54
S 4,177.28
-
$ -
$ 20,723.00
$
$
2,752.78
$ 4,420,54
S 26,316.27
2,75278
$ 7,173.32
$ 33,489.59
(45,317.22)
$ (40,896.68)
$ (14,580411
5 727%
14.923%
69.668%
City of Eastvale
Liquidity Calculation
�...• Based an Fiscal Year 2015-2016 ActuRYCash Budget Forecast
As orSeptember 30, 2015
MONTHLY CASH BALANCES
Total Cash By. Expenditures By
Month Citizen's LAIF CD's Mouth Month
July S 18.711.021 $ 25.737.073 $ 4,969.000 S 49,417,095 S 1,021,986
August S 17,148,40 $ 25,737,073 S 4,969,000 S 47,854,476 S 700,377
September $ 18.310.713 S 25,737,073 S 4,969,000 S 49,016,786 (b) S 3,154,192
October (e) S 9,452,633 S 20695,340 $ 4,971,000 (a) S 35,118,973 S 1.781,823
November $ 9.959,348 S 20695,340 S 4,971,000 $ 35,625,689 S 982,314
December S 11,844,811 S 20.695.340 $ 4,971,000 $ 37,511,151 S 1,714.748
January S 16,231.373 S 20,708,601 $ 4,971.000 S 41,910,974 $ 2,639,241
February $ 14,911,125 $ 20.708.601 S 4,971,000 S 40.590,726 $ 1.971.949
March $ 14.410,651 S 20.708.601 S 4,970,000 S 40,089,252 S 1,479.927
April $ 15,665,440 S 20,721,891 S 4,970,000 $ 41,357,321 $ 715 452
May S 19A83,435 S 20.721,881 S 4,970,000 $ 44,975,316 Average S 999.425
June $ 15,508,357 S 25,721,881 S 4.969.000 S 46,199,239 Cash Balance S 1.167,851
(1) S 181.337,31076 (2) S 268,588,686.14 (2) S 59.641,00000 S 509,566,99690 (e) S 42.463,91641 (1) S 18,329,484.25
Average S 15,111.442 56 S 2-1,382,390.51 S 4.970,093 33 S 42.463,910 41 S 1.527.457 02
Six Month Cash
Lowest Balance Highest Expense Lowest Deposits Liquidity Reserve
(a) S 35,118,972.83 (b) S 3,154,192 09 (c) S 9,452,632.73 (d) S 41,417,413 47 (4) $ 9,164,742.13
(d) Liquidity Calculation (e) Avg Monthly Cash Balance (d) S 41,417,413 47 (e) S 42.463.916.41
Less 50% Emergency Reserve (3) $ (9,164,742 13) S (9,164,742.13)
Available Investment Liquidity S 32,252,671.35 S 33,299,174 28
Notes:
(1) Actual/Forecast Cash Budget FY 2015r 16
(2) Monthly Bank Reconciliations
(3) Recommended Emergency Reserve
(4) Six Month Cash Reserve based on FY 15- l6 ActualfForecasted Annual Expenditures divided by two