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03. SEPTEMBER 30, 2016CITY OF EASTVALE ITEM 6.4 CITY COUNCIL STAFF REPORT MEETING DATE: NOVEMBER 9, 2016 TO: HONORABLE MAYOR AND COUNCILMEMBERS FROM: JAMES R. RILEY, INTERIM FINANCE DIRECTOR SUBJECT: TREASURER'S REPORT — QUARTER ENDED SEPTEMBER 30, 2046 RECOMMENDATION: RECEIVE AND FILE THE CITY TREASURER'S REPORT BACKGROUND In accordance with the City of Eastvale's Investment Policy, adopted May 11, 2016, the City Treasurer is required to submit a quarterly treasurer's report to the City Council. The report shall include types of investments, credit 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 as to whether investments are in compliance with the Investment Policy and whether there are sufficient funds to meet the City's cash obligations for the next six months. DISCUSSION The 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. Detail reports for the Morgan Stanley Investment Portfolio and the PFM Managed Investment Portfolio, with all supplemental information required by the City's investment policy, are included in the report. The Dash Board Report Card, consists of two sections: I. Portfolio Diversification — This section reflects the diversification of the City of Eastvale's portfolio by both type of instrument and length of maturity. II. Portfolio Performance Measures — This section compares budget to actual 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, 2016 is $54,704,199 (book value). Interest income earned through quarter ending on September 30, 2016 is $77,454, which is 86.35% of the 2016-17 budgeted amount for interest of $89,700. CITY OF EASTVALE ITEM 6.4 CITY COUNCIL STAFF REPORT FISCAL IMPACT Not Applicable. STRATEGIC PLAN IMPACT Goal 1: Establish a solid fiscal foundation for the City ATTACHMENTS 1. Schedule of Investments — September 30, 2016 2. Dash Board Report Card — September 30, 2016 3. Morgan Stanley Investment Portfolio — September 30, 2016 4. PFM Managed Investment Portfolio — September 30, 2016 Prepared by: James R. Riley, Interim Finance Director Reviewed by: Michele Nissen, City Manager Reviewed by: John Cavanaugh, City Attorney Attachment 1 City of Eastvale Schedule of Investments As of September 30, 2016 Book Value (Fair Value) Par Price @ Market Institution Value Cost Value Yield ACTIVE DEPOSITS Money Market Accounts: Citizens Business Bank - Money Market $ 1,176,617.21 $ 1,176,617.21 $ 1,176,617.21 0.350% First American Govt Oblig Fund - US Bank $ 3,786.29 $ 3,786.29 $ 3,786.29 0.000% Total Money Market $ 1,180,403.50 $ 1,180,403.50 $ 1,180,403.50 0.349% Pooled Investment Accounts: Local Agency Investment Fund $ 12,839,319.60 $ 12,839,319.60 $ 12,843,248.84 0.634% Total Pooled Investment $ 12,839,319.60 $ 12,839,319.60 $ 12,843,248.84 0.634% Morgan Stanley Investment Portfolio Certificates of Deposit $ 2,979,000.00 $ 2,979,000.00 $ 2,989,709.23 0.860% Total Morgan Stanely Investments $ 2,979,000.00 $ 2,979,000.00 $ 2,989,709.23 0.860% PFM Managed Investment Portfolio: U.S. Treasury Bond/ Note $ 5,530,000.00 $ 5,655,541.80 $ 5,654,568.32 1.080% Asset -Back Security/ Collateralized $ 145,000.00 $ 144,980.48 $ 145,188.69 1.300% Federal Agency Bond/ Note $ 21,995,000.00 $ 22,063,533.50 $ 22,065,444.91 0.920% Corporate Note $ 4,000,000.00 $ 4,145,301.90 $ 4,145,121.88 1.940% Total PFM Managed Investments $ 31,670,000.00 $ 32,009,357.68 $ 32,010,323.80 1.080% ACTIVE DEPOSITS TOTAL $ 48,668,723.10 $ 49,008,080.78 $ 49,023,685.37 0.707% INACTIVE DEPOSITS Checking Account: Citizens Business Bank - Checking $ 5,696,118.22 $ 5,696,118.22 0.000% Total $ 5,696,118.22 $ 5,696,118.22 0.000% INACTIVE DEPOSITS TOTAL $ 5,696,118.22 $ 5,696,118.22 GRAND TOTAL CASH $ 54,704,199.00 $ 54,719,803.59 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/l/2016 Attachment 2 City of Eastvale Dash Board Report Card As of September 30, 2016 I. PORTFOLIO DIVERSIFICATION DIVERSIFICATION BY INSTRUMENT Money Market LAIF Certificates of Deposit U.S. Treasury Bond/ Note Asset -Backed Security/ Collateralized Federal Agency Bond/ Note Corporate Note DIVERSIFICATION BY MATURITY Less Than 90 Days Six Months (26 Weeks) One Year (52 Weeks) Two Years (104 Weeks) Three Years (156 Weeks) Four Years (208 Weeks) Five Years + II. PORTFOLIO PERFORMANCE MEASURES Yield at Cost Month Annual Interest Budget Money Market LAIF Certificate of Deposits U.S. Treasury Bond/ Note Federal Agency Discount Note Federal Agency Bond/ Note Corporate Note Total YTD Interest Earned Over/(Under) Annual Budget % of Annual Budget 2.41 % 26.20% 6.08% 11.54% 0.30% 45.02% 8.46% 100.00% 30.13% 1.52% 1.52% 21.03% 22.42% 10.79% 12.60% 100.00% 0.707% 89,700.00 1,062.47 19,506.17 4,600.88 21,040.63 2,077.51 29,166.67 $ 77,454.33 $ (12,245.67) 86.348% M 0] U cl Rl (D c ca U) c CIO Cj0 m R a N O E d a m N 0. 41 O k Z w L LJ i— cn H z w zi u w 1 d J rn � W LU G Q U C.i 1 cu E cn 4-1 C 0 u U Q � ca c � ' Q. a tx G c 3 o N � ' W y o `m d � ccl ro •- a car � C d a � N LU -6 �O Q v CD N 0 CZ E f 7 c LLJ w > ro 0 P d W m b > fq Z Er 1-� pi d L]J Z Q v 3 suo�ll�W iti G1 G U � P,A H la co rn G Ln In CL .Ti N 00 to � r• le m [V N M ma i QL u in Q 0: CD G p O'C] a v a 7 r ui 0 00 W m dci 4 06 ad s r R m crt (D Ch CV N FA �I a v d Da El w =ice N 3i U Li 0 H- n U w C ii�t��II� 11 r•W►Tr UM c CA a) �1 (10 4-0 V) r w 1 W N w L U. 0 Ln 7 d LI, a N Q- .� Coif < N (N to C tD � �a Q LD N a tv cr7 u 0_ a a Y i v td N L a _ Z E C C LU za m Q co I M to In ttm N tm i%1 co 00 n w 1* ru M Fi} mu R 00 00 co N c'.t N I n n n r-I rw ry v in N ) L u N d o C 0 Q � y a � w a a� ❑ rl ac -0w�t N B L C 2 st _ Of CI7 p LL ❑ F a ti 8 00 eq NL 0 co ro kn tD rn CR al O1 N SV FR o ui Ln 41 tz i t31 co cc 00 w J ❑ co co lqr Z�j N N ro rn Ln 4 F2q 0 -0 w ❑ A G C 6�1 Z) tao n o CL m ro •� b y a bw m ;a m O di } a •t 1 ro' ro � N v� a m � a CL a m IZL p U x � � _1 Ip CN � a � m C1 0 C7 —J z Z7, pp C N G7 Z O L7 `"o 0 Q C y Wj[11 N N r � A f• r+ I � n n m M M t C a m r! 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