Council Memorandum. The City Manager s Office prepares monthly financial reports and an investment summary for City Council review

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1 City Council Memorandum TO HONORABLE MAYOR AND CITY COUNCIL DATE SEPT FROM CITY MANAGER FINANCE ITEM NO 27 WARD ALL SUBJECT INVESTMENT SUMMARY AND FINANCIAL REPORTS AUGUST ISSUE The City Manager s Office prepares monthly financial reports and an investment summary for City Council review RECOMMENDATIONS That the City Council receive and file these reports BACKGROUND Sound investment practices are essential to good fiscal management The Assistant City ManagerCFOTreasurer is responsible for managing the City s investment portfolio Cash flow is monitored on a daily basis and unexpended cash is directed towards investments that exhibit first safety then liquidity and an appropriate return on investment The investment results are summarized and reported to the City Council at each month end Sound management practices include monitoring revenue and expenditures against the City Council approved budget Financial reporting is suspended pending the closing the accounts for the fiscal year and completion the independent audit FISCAL IMPACT Prepared by Certified as to availability funds Approved by Approved as to form Gregory for Scott C Barber Interim City Manager P Priamos City Attorney Attachments Investment Report s 271

2 CITY OF RIVERSIDE Schedule Cash and Investments August VALUE OF SECURITY RATE DATE RATING DATE COST BASIS MATURITY MKT VALUE MONEY MARKET ACCOUNTS Local Agency Investment Varies Varies NR Varies S Bank America Varies Varies Aaa Varies CalTRUST Short Term Varies Varies Aa Varies Heritage Money Market Varies Varies Aaa Varies CNI Charter Gov t MMF Varies Varies Aaa Varies CERTIFICATES OF DEPOSIT Medallion Bank AAA GE Money Bank AAA Ally Bank AAA Cache Valley Bank AAA Enterprise Bank Trust AAA BMW Bank North America AAA Farm Bureau Bank AAA Franklin Security Bank AAA Essa Bank Trust AAA Headwaters State Bank AAA Wilmington Trust AAA Middleton Community Bank AAA CIT Bank AAA n Aurora Bank FSB AAA GE Capital Financial AAA Discover Bank AAA Transportation Alliance Bank AAA American Express Centurion Bk AAA Goldman Sachs Bank USA AAA Flushing Savings Bank AAA Enerbank USA AAA Nat l Republic Bank Chicago AAA Wails Fargo Bank NA AAA MEDIUM TERM NOTES 000 GE Capital Corp Aaa GE Uapflal Corp Aa GE Capital Corp Aa GE Capital Corp Aa Capital Corp Aa Rabobank Asa Wells Fargo Aa US GOVT AGENCY Fed Home Loan Bank Aaa Fed Home Loan Mtg Corp Aaa Fed Natl Mtg Assn Aaa Fed Home Loan Bank Aaa Fed Farm Credit Bank Aaa Fed Home Loan Mtg Corp Aaa Fed Home Loan Bank Aaa Fed Home Loan Bank Aaa Fed Nat Mtg Assn Asa Fed Natl Mtg Assn Aaa Fed Natl Mtg Assn Aaa Fed Natl Mtg Assn Asa Fed Home Loan Mtg E Aaa Fed Nat Mtg Assn Aaa Fed Home Loan Bank Aaa Fed Natl Mtg Assn Aaa Fed Home Loan Mtg Corp Aaa Fed Home Loan Bank Aaa Fed Home Loan Mtg Corp Aaa Fed Home Loan Bank Aaa Fed Home Loan Mtg Corp Aaa Fed Natl Mtg Assn Aaa Fed Home Loan Mtg Corp Aaa Fed Nall Mig Assn Aaa Fed Home Loan Mtg Corp Asa SUBTOTAL INVESTMENTS RDA TAX ALLOCATION BOND Downtown AirporVHunter Park NR Magnolia Center NR La Sierra Arfanza NR University CorridorSycamore NR SUBTOTAL RDA BONDS TOTAL ALL INVESTMENTS S MISCELLANEOUS CASH TOTAL CASH INVESTMENTS

3 It has been verified that this investment portfolio is in conformity exclusive items identified with the City Riverside investment poiicy which was approved by City Council on March The Treasurer cash management program and cash flow analysis indicates that sufficient liquidity is on hand to meet estimated future expenditures for a period six months The Weighted average maturity the pooled investment portfolio is 130 years Market prices securities are obtained directly through Union Bank Weighted average yield on cost is

4 CITY OF RIVERSIDE POOLED CASH AND INVESTMENTS BY FUND AUGUST Electric Sewer Transportation s General Redevelopment Agency RDA Bond Proceeds 2011 Trust s Water Park and Recreation Capital Improvement s Internal Service Liability and Workers Compensation s Other Miscellaneous s Total Gash and Investments

5 MONTH THE Receivable CHANGES FUND Receivable DURING NEW Payable Loan Purpose RECEIVABLE END YEAR FISCAL Payable Loan Purpose INTER FUND City Approval Council INTERFUND City Approval Council Change Change N C3