The URL can be used to link to this page

Home My WebLink AboutItem 06 - Periodic Quarterly Report of Investments as of December 31, 2022 Finance and Management Services www.santa-ana.org/finance Item # 6 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report March 7, 2023 TOPIC: Periodic Quarterly Report of Investments as of December 31, 2022 AGENDA TITLE: Receive and File Quarterly Report of Investments as of December 31, 2022 RECOMMENDED ACTION Receive and file. DISCUSSION California Code Section 53646 (b) states that if a quarterly report is rendered to the legislative body, the quarterly investment report shall be submitted within 30 days following the end of the quarter covered by the report. In an effort to meet the statutory requirement, Finance & Management Services Agency (“FMSA”) submits the Report via email for review and distribution to the City Council in advance. The report was emailed for distribution on January 24, 2023. The legislation specifies that this quarterly report contain the seven major elements listed below: 1. Type of investments 2. Date of maturity 3. Par and dollar amounts invested in each security 4. Weighted average maturity of the investments 5. Market value as of the date of the report 6. Source of the market value information 7. Any funds, investments or programs, including loans, under the management of contracted parties These specifications include a statement outlining the ability of the City to meet the budgeted expenditures for the subsequent six months be submitted to the City Council on a quarterly basis. Staff performs an end-of-month expenditure analysis to comply with the expenditure requirement and a statement confirming the ability to meet this requirement in the monthly and quarter-ending Treasurer’s Report. The information is in compliance with State law and the City’s Investment Policy. The attached Treasurer’s Report (Exhibit 1) accurately reflects all pooled investments held on behalf of the City as of December 31, 2022. Quarterly Report of Investments March 7, 2023 Page 2 3 2 8 7 The attached Cash held by Bank and Cash held by Fund(s) Listing (Exhibit 2) is a schedule of cash by funds added to the monthly and quarterly Report of Investments to enhance FMSA’s reporting and transparency. The following two tables represent: (1) percentage limits set by the City’s Investment Policy and State Law and shows respective City investment portfolio investment types, amounts, and percentages; and (2) the restricted cash balance as of December 31, 2022. Type of Investment Amounts Invested $ Portfolio % COSA Policy Limits % State Law Limits % Certificates of Deposit (CDs)$6,696,000 1.38%30%30% Federal Farm Credit Bank (FFCB)$57,912,510 11.93%None None Federal Home Loan Bank (FHLB)$225,225,370 46.41%None None Federal Home Loan Mortgage Corp. (FHLMC)$44,993,750 9.27%None None Federal National Mortgage Association (FNMA)$59,956,530 12.35%None None Local Agency Investment Fund (LAIF)$18,811,639 3.88%None None Local Agency Investment Fund (LAIF – ARPA)$66,706,745 13.75%None None U.S. Treasury $4,990,000 1.03%None None Sub- Total:$485,292,544 100%None None Cash :$30,998,545 Total:$516,291,089 Restricted Cash In $ Restricted Cash †,$12,733,417 Total $12,733,417 † Restricted cash is held by various Trustees such as Bank of New York Mellon; US Bank; Signature Bank; and State of California Condemnation Fund. Restricted Cash is segregated from cash used for daily operations. The following City investment portfolio graph represents percentages within the respective investment types as of December 31, 2022. Certificates of Deposit (CD) 1.38% Federal Farm Credit Bank (FFCB) 11.93% Federal Home Loan Bank (FHLB) 46.41% Federal Home Loan Mortgage Corp. (FHLMC) 9.27% Federal National Mortgage Association (FNMA) 12.35% Local Agency Investment Fund (LAIF) Local Agency Investment Fund (ARPA) 13.75% U.S. Treasury 1.03% City of Santa Ana Investment Portfolio December 31, 2022 Quarterly Report of Investments March 7, 2023 Page 3 3 2 8 7 The following two tables represent, as of December 31, 2022: (1) the aggregate Average Market Yield To Date (AMTD); and (2) the breakdown of by investment type. Aggregate Average Market Yield To Date Average Month To Date (AMTD)1.348% Investments Book Value of Investments YTM % of Portfolio Certificates of Deposit $6,696,000 1.181%1.38%0.016% LAIF $18,811,638.93 2.173%3.88%0.084% LAIF (ARPA)$66,706,744.67 2.173%13.75%0.299% Federal Agency Securities $388,088,160.25 1.163%79.97%0.930% U.S. Treasury $4,990,000 1.839%1.03%0.019% $485,292,544 1.348%100.00%1.348% Cash held by Bank and Cash by Fund(s) Listing (Exhibit 2) The above-referenced exhibit (Exhibit 2) includes a comparison of bank balances between each City Cash account including Investments; Cash held at a City designated financial institution; Cash on Hand; and Restricted Cash versus the Cash held by various Fund(s). FISCAL IMPACT There is no fiscal impact associated with this action. EXHIBIT(S) 1. Treasurer’s Report 2. Cash Held by Bank and Cash Fund(s) Listing Submitted By: Kathryn Downs, FMSA Executive Director Approved By: Kristine Ridge, City Manager Finance and Management Services www.santa-ana.org/finance Item # 6 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report March 7, 2023 TOPIC: Periodic Quarterly Report of Investments as of December 31, 2022. AGENDA TITLE: Receive And File Quarterly Report Of Investments As Of December 31, 2022 RECOMMENDED ACTION Receive and file. DISCUSSION California Code Section 53646 (b) states that if a quarterly report is rendered to the legislative body, the quarterly investment report shall be submitted within 30 days following the end of the quarter covered by the report. In an effort to meet the statutory requirement, Finance & Management Services Agency (“FMSA”) submits the Report via email for review and distribution to the City Council in advance. The report was emailed for distribution on January 24, 2023. The legislation specifies that this quarterly report contain the seven major elements listed below: 1. Type of investments, 2. Date of maturity, 3. Par and dollar amounts invested in each security, 4. Weighted average maturity of the investments, 5. Market value as of the date of the report, 6. Source of the market value information, and 7. Any funds, investments or programs, including loans, under the management of contracted parties. These specifications include a statement outlining the ability of the City to meet the budgeted expenditures for the subsequent six months be submitted to the City Council on a quarterly basis. Staff performs an end-of-month expenditure analysis to comply with the expenditure requirement and a statement confirming the ability to meet this requirement in the monthly and quarter-ending Treasurer’s Report. The information is in compliance with State law and the City’s Investment Policy. The attached Treasurer’s Report (Exhibit 1) accurately reflects all pooled investments held on behalf of the City as of December 31, 2022. Quarterly Report of Investments March 7, 2023 Page 2 3 2 8 7 The attached Cash held by Bank and Cash held by Fund(s) Listing (Exhibit 2) is a schedule of cash by funds added to the monthly and quarterly Report of Investments to enhance FMSA’s reporting and transparency. The following two tables represent: (1) percentage limits set by the City’s Investment Policy and State Law and shows respective City investment portfolio investment types, amounts, and percentages; and (2) the restricted cash balance as of December 31, 2022. Type of Investment Amounts Invested $ Portfolio % COSA Policy Limits % State Law Limits % Certificates of Deposit (CDs)$6,696,000 1.38%30%30% Federal Farm Credit Bank (FFCB)$57,912,510 11.93%None None Federal Home Loan Bank (FHLB)$225,225,370 46.41%None None Federal Home Loan Mortgage Corp. (FHLMC)$44,993,750 9.27%None None Federal National Mortgage Association (FNMA)$59,956,530 12.35%None None Local Agency Investment Fund (LAIF)$18,811,639 3.88%None None Local Agency Investment Fund (LAIF – ARPA)$66,706,745 13.75%None None U.S. Treasury $4,990,000 1.03%None None Sub- Total:$485,292,544 100%None None Cash :$30,998,545 Total:$516,291,089 Restricted Cash In $ Restricted Cash †,$12,733,417 Total $12,733,417 † Restricted cash is held by various Trustees such as Bank of New York Mellon; US Bank; Signature Bank; and State of California Condemnation Fund. Restricted Cash is segregated from cash used for daily operations. The following City investment portfolio graph represents percentages within the respective investment types as of December 31, 2022. Quarterly Report of Investments March 7, 2023 Page 3 3 2 8 7 The following two tables represent, as of December 31, 2022: (1) the aggregate Average Market Yield To Date (AMTD); and (2) the breakdown of by investment type. Aggregate Average Market Yield To Date Average Month To Date (AMTD)1.348% Investments Book Value of Investments YTM % of Portfolio Certificates of Deposit $6,696,000 1.181%1.38%0.016% LAIF $18,811,638.93 2.173%3.88%0.084% LAIF (ARPA)$66,706,744.67 2.173%13.75%0.299% Federal Agency Securities $388,088,160.25 1.163%79.97%0.930% U.S. Treasury $4,990,000 1.839%1.03%0.019% $485,292,544 1.348%100.00%1.348% Cash held by Bank and Cash by Fund(s) Listing (Exhibit 2) The above-referenced exhibit (Exhibit 2) includes a comparison of bank balances between each City Cash account including Investments; Cash held at a City designated financial institution; Cash on Hand; and Restricted Cash versus the Cash held by various Fund(s). ENVIRONMENTAL IMPACT There is no environmental impact associated with this action. FISCAL IMPACT There is no fiscal impact associated with this action. Certificates of Deposit (CD) 1.38% Federal Farm Credit Bank (FFCB) 11.93% Federal Home Loan Mortgage Corp. (FHLMC) 9.27% Federal National Mortgage Association (FNMA) 12.35% Local Agency Investment Fund (LAIF) U.S. Treasury 1.03% City of Santa Ana Investment Portfolio December 31, 2022 Quarterly Report of Investments March 7, 2023 Page 4 3 2 8 7 EXHIBIT(S) 1. Treasurer’s Report 2. Cash Held by Bank and Cash Fund(s) Listing Submitted By: Kathryn Downs, FMSA Executive Director Approved By: Kristine Ridge, City Manager Quarterly Report of Investments as of December 31, 2022 Exhibit 2 - Cash held by Bank and Cash by Fund(s) Listing Investments Amount Certificates of Deposit 6,696,000 Bank of New York Mellon - Investment Custodian 393,078,160 Local Agency Investment Fund (L.A.I.F)18,811,639 Local Agency Investment Fund (L.A.I.F) - ARPA 66,706,745 Total - Investments 485,292,544 Cash Held at City Financial Institution(s) and Cash on Hand Amount General Account 22,336,880 General Liability Account 2,086,738 Housing Account 3,834,901 Workers Compensation Account 1,194,162 Santa Ana Federal Credit Union - Family Self Sufficiency (FSS-Housing) 713,224 Commissary Account 374,503 Flexible Benefit Spending Account 338,031 Property Management Account 35,084 Property Management - Phase 2 Account 1 ,493 Petty Cash 83,529 Total - Cash Held at City Financial Institution(s) and Cash on Hand 30,998,545 Restricted Cash Amount Signature Bank - Streetlight Project 1,268,870 US Bank - Pension Stability Funds (Section 115 Trust with PARS)10,178,410 Bank of New York Mellon - Various 139,253 US Bank - Warner Industrial Community 105,345 State of California Condemnation Fund - Right of Way Deposits 1,041,525 US Bank - Gas Tax Bonds 14 Total - Restricted Cash 12,733,417 Total Cash Held City at Financial Institution(s), Cash on Hand and Restricted Cash 529,024,506 Cash by Fund(s) - Total (see below for listing)529,024,506 Fund Fund description Amount 011 GENERAL FUND 98,759,541 012 CANNABIS PUBLIC BENEFIT 25,615,302 016 CASP CERTIFICATION & TRAINING 356,252 020 OTS-TRAFFIC OFFENDER PROGRAM 26,780 021 PRCSA CATV FUND 1,816,336 022 PRCSA FEE & DONATION 1,012,903 023 INMATE WELFARE FUND 1,915,725 024 PD ATHLETIC ACTIVITIES LEAGUE (157,711) 025 IDB & EZ VOUCHER MONITORING 237,948 026 ASSET FORFEITURE FUND 173,913 027 PARKING FUND 1,960,906 029 SPECIAL GAS TAX 24,164,869 030 PROP 1B BOND ACT OF 2006 154,371 031 AIR QUALITY IMPR. (AB 2766)2,076,602 032 MEASURE M-STREET CONSTRUCTION (10,172,932) 033 NEW TRANSPO SYS IMPR AREA B 577,212 034 NEW TRANSPO SYS IMPR AREA E 1,502,693 035 NEW TRANSPO SYS IMPR AREA F 1,769,950 040 GENERAL FIXED ASSETS - 041 TRANSP SYS IMPR AREA A-2 702,610 042 TRANSPO SYS IMPR AREA B 9 ,620 048 TRANSPO SYS IMPR AREA C-2 214,877 049 TRANSPO SYS IMPR AREA G 99,040 051 CAPITAL OUTLAY FUND 3,973,876 053 CITY SERVICES 7,744,128 054 SANITARY SEWER CAPITAL 13,198,329 055 SEWER CONNECTION FEE 6,397,941 056 SANITARY SEWER SERVICE 7,880,641 057 FED CLEAN WATER PROTECTION ENT 4,575,772 058 RESIDENTIAL STREET IMPROVEMENT 5,659,173 059 SELECT STREET CONSTRUCTION 24,727,376 060 WATER REVENUE 33,041,991 066 ACQUISITION & CONSTRUCTION 4,241,310 067 REGIONAL TRANSP CENTER 418,044 Page 1 of 3 EXHIBIT 2 Quarterly Report of Investments as of December 31, 2022 Exhibit 2 - Cash held by Bank and Cash by Fund(s) Listing 068 SANITATION FUND 6,063,662 069 REFUSE COLLECTION SERVICE 6,474,839 070 EQUIPMENT REPLACEMENT FUND 8,119,795 071 CENTRAL SERVICES 120,352 073 BUILDING MAINT FUND 1,894,337 074 CIVIC CENTER MAINTENANCE (1,599,810) 075 FLEET MAINTENANCE/STORES 17,425 076 STORES & PROPERTY CONTROL (594,952) 078 RETIREMENT SYSTEM (4,160,181) 080 LIABILITY AND PROPERTY INS FND 12,020,948 081 EMPLOYEE GROUP INSURANCE 803,889 082 WORKERS COMPENSATION FUND 17,677,733 083 PAYROLL REVOLVING 7,496,976 085 CITY YARD OPERATION (297,563) 086 PUB WKS ENG/PROJ MGMT (592,576) 087 PT RETIREMENT FUND 8,964 088 QUALITY SERVICE TRAINING 192,418 089 CA SEISMIC HAZARD PROGRAM 20,266 090 ORANGE CO SANITATION DIST 2&3 2,334,274 093 BUSINESS IMPROVEMENT DISTRICT 182,720 094 INTEREST AGENCY - 095 POLICE COMMISSARY ACCOUNT 308,466 096 SA TOURISM MARKETING DISTRICT 239,291 097 POLICE SEIZED ASSETS 1,726,457 100 SECTION 457 FIDUCIARY ADMIN 61,612 101 PUB WKS-ADMIN & PLANNING 2,917,095 103 PMA RETIREE HEALTH INSURANCE 17,121 104 SEIU RETIREE HEALTH INSURANCE 166,433 106 MGMT RETIREE HEALTH INSURANCE 24,467 107 UC RETIREE HEALTH INSURANCE 1,972 109 INFO SYS STRATEGIC PLAN 13,063,902 110 STRONG MOTION INSTRUMENTATION 104,351 120 FIRE FACILITIES FUND 2,971,288 121 SPECIAL REPAIR/DEMOLITION 680,053 122 EMERGENCY & HEALTH GRANTS 4,113,422 123 WORKFORCE INVESTMENT ACT (1,673,374) 124 ORANGE COUNTY SSA GRANTS (280,438) 125 OES UASI (1,630,069) 127 D.O.J. GRANT FUND 40,784 128 POLICE BLOCK GRANTS 1,599,065 130 HOME PROGRAM FEDERAL GRANT 1,958,970 131 MISC GRANTS 1,248 133 HOUSING AUTHORITY-ISSUER FEE 2,671,349 135 COMMUNITY DEV BLOCK GRANT (365,718) 136 HOUSING AUTHORITY-VOUCHER HAP 1,083,580 137 HOUSING AUTHORITY- MAINSTREAM - 138 HOUSING AUTHORITY-MS 5 (6,150) 139 HOUSING AUTHORITY-NEW CONSTR 294,546 140 HOUSING AUTHORITY-VOUCHER ADM 2,682,765 142 NSP FEDERAL GRANT 140,372 143 CALHOME MFGD HSG LOAN 710,390 144 PRISON TO EMPLOYMENT PROGRAM - 145 RENTAL REHABILITATION GRANT 48,502 147 FEDERAL AID SAFETY PROGRAM (621,466) 148 TRAFFIC SYSTEM MGMT GRANT (4,388,040) 149 WIC ASSESSMENT DIST ST IMPRV 32,965 152 PUBLIC LIBRARY GRANT FUND 409 153 LIBRARY GRANTS 42,388 154 LIBRARY SVCS & TECHNOLOGY ACT 1,375 155 OCJP GRANT - 157 HSG ADMIN CARES ACT COVID-19 428 158 PLANNING GRANTS PROGRAM 2,936,585 160 HSG HAP CARES ACT COVID-19 - 161 PRCSA CAPITAL GRANTS (1,122,832) 162 ENERGY CONSERVATION PROGRAM (59,446) 164 PUB WKS-WTR QUALITY & CONTROL (4,636,735) 165 OFFICE OF SAFETY GRANT 46,791 166 US DOJ ASSET FORFEITURE FUND 972,915 167 US TREASURY ASSET FORFEITURE 140,294 169 RECREATION GRANTS FUND 583,010 170 MS5 HAP CARES ACT COVID-19 - 172 NATL RECREATION TRAILS FND ACT 17,265 175 CARES ACT - CESF - 176 CARES ACT - State - Page 2 of 3 Quarterly Report of Investments as of December 31, 2022 Exhibit 2 - Cash held by Bank and Cash by Fund(s) Listing 177 EMERGENCY RENTAL ASSISTANCE PG 3,543,091 178 COVID RELIEF FUND (629,016) 179 GENERAL FIXED ASSETS (88,200) 180 ARPA EHV ADMIN FEES 158,866 181 AMERICAN RESCUE PLAN ACT 106,033,373 182 HOME-ARP PROGRAM FEDERAL GRANT (13,865) 183 ARPA - CA FOR ALL YOUTH WDP (188,041) 201 LOCAL DRAINAGE AREA NO 1 133 202 LOCAL DRAINAGE AREA NO 2 1,439 203 LOCAL DRAINAGE AREA NO 3 760,371 204 LOCAL DRAINAGE AREA NO 4 1,063 205 LOCAL DRAINAGE AREA NO 5 604 206 LOCAL DRAINAGE AREA NO 6 886 207 LOCAL DRAINAGE AREA NO 7 195,545 209 LOCAL DRAINAGE AREA NO 9 738 210 LOCAL DRAINAGE AREA NO 10 17,291 211 LOCAL DRAINAGE AREA NO 11 224 212 LOCAL DRAINAGE AREA NO 12 13 213 LOCAL DRAINAGE AREA NO 13 2,716 221 LOCAL DRAINAGE AREA I 1,040,008 222 LOCAL DRAINAGE AREA II 276,131 223 LOCAL DRAINAGE AREA III 423,889 224 LOCAL DRAINAGE AREA IV 461,736 225 LOCAL DRAINAGE AREA V 283,003 226 LOCAL DRAINAGE AREA VI 383,811 301 REC/COMM SVS 6,084 311 RESIDENTIAL DEVELOP DISTRICT 1 3,320,928 312 RESIDENTIAL DEVELOP DISTRICT 2 4,134,113 313 RESIDENTIAL DEVELOP DISTRICT 3 13,931,513 314 RESIDENTIAL DEVELOP DISTRICT 4 694,398 400 POLICE UUT LEASE REVENUE BONDS 2,061,931 403 SCAG GRANTS - 404 COSA 2014 LEASE FINANCING 1,835,598 406 2021 PENSION OBLIGATION BONDS 14,065 417 INCLUSIONARY HOUSING FEE 14,012,985 418 CDA - PEEBLER CAPITAL FUND 640,370 607 HOUSING AUTHORITY LMIHF 4,998,457 652 2003A SERIES TAX ALLOC BOND - 654 2011A SERIES TAX ALLOC BOND - 655 2018A SERIES TAX ALLOC BOND 11,781 658 2003B SERIES ALLOC BOND - 670 COSA RDA 462,921 671 COSA RDA OBLIGATION RETIREMENT 338,366 980 SAN JUANQUIN TRANS CORRIDOR 1,675,830 981 EASTERN FOOTHILL TRANS CORRIDO - 991 TRAN SYS IMP AUT C-2 TUSTIN 2,616,424 992 TRAN SYS IMP AUT AREA D-TUSTIN 11,186,531 993 WIC ASSESSMENT DISTRICT 998 TREASURERS AGENCY COLLECTIONS - 999 Lawson Clearing 26,041 Reconciling Item(s) - Outstanding Checks * 3,555,434 Reconciling Item(s) - Bank Direct Deposits* 2,568,597 Reconciling Item(s) - Deposits in Transit* (602,584) Reconciling Item(s) - Withdrawals in Transit* Reconciling Item(s) - Various* 392,354 Reconciling Item(s) - Various: A difference between C ash held by Financial Institution, Fiscal Agent and Cash on Hand exists when comparing to Cash by Fund due, to reconciling items such as timing of payments; outstanding checks; and deposits in transit Page 3 of 3