City of Laguna Beach AGENDA BILL SUBJECT: CITY TREASURER'S MONTHLY REPORT FOR MAY It is recommended that the City Council:

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1 AGENDA BILL Consent 3 No. Meeting Date: 7/1/14 SUBJECT: CITY TREASURER'S MONTHLY REPORT FOR MAY 2014 SUMMARY OF THE MATTER: The cash and investments at month end totaled $77,060,390. Excess funds were invested utilizing prudent money management, in compliance with State law and the Investment Policy. High quality, safe investments were purchased with the intent to hold them until maturity. The duration varied to a maximum of five years. Economic fluctuations impacted the fair market value that will be reported in the annual Comprehensive Annual Financial Report. For the month ending May 31, 2014, the unrealized gain totaled $613,551. However, it is unlikely that the gain will be realized because the Treasurer's cash management program provides sufficient liquidity to meet expenditure requirements for the next six months. RECOMMENDATION: It is recommended that the City Council: Receive and file the City Treasurer's monthly report for May Appropriations Requested: $ None Fund: Submitted by: N,,e_A Laura Parisi, CPA, CCMT, CFIP City Treasurer Coordinated with: Attachments: Investment Report Approved: John Pietig, City

2 Investment Report May 2014 Honorable Mayor and Members of the City Council, The requested monthly Investment Report follows. I verify that the investment portfolio is in conformity with California laws and the Treasurer's Investment Policy which is approved annually by the City Council. The Treasurer's cash management program provides sufficient liquidity to meet expenditure requirements for the next six months. Respectfully submitted, 4e/AA. Laura Parisi, CPA, CCMT, CFIP City Treasurer

3 City Treasurer Monthly Report - Unaudited For the Month of May 2014 Cash Activity for the Month Cash and investments, beginning of month Cash receipts Cash disbursements Cash and investments, end of month 78,567, , 222, (6,729, ) $ 77,060, Cash and Investment Portfolio at Month-End Current Year Prior Year Market Value Cost Pet of Total Avg Return Cost Long-term investments: Federal agency securities Medium-term corporate notes Negotiable Certificates of Deposit - FDIC insured Municipal bond 43,096, ,192, ,250, ,010, ,550, ,244, ,114, ,238, ,007, ,603, % 7% 5% 1% 70% L00% 1.74% 2.23% 1.07% 46,994, , ,490, , Short-term investments: State Local Agency Investment Fund Federal agency securities Certificates of Deposit - negotiable and local banks Municipal bond 3,003, ,365, ,999, ,355, % 0% 4% 0% 29% 0.23% N.D. 0.70% N.D. 0.29% 12,079, , , 1,009, ,338, Savings, checking and change funds Savings accounts (b). Checking accounts Investment income in transit Petty cash/change funds 192, , , , % I 0.25% o% Allowance (a). o% 0.00% o% 0.00% 1% N.D. 191, , , Trustee-held investments 1% 0.23% 594, Grand total - cash and investments $ 77,017, $ 77,060, t00% $ 75, 157, (a). The earnings allowance credit applies to funds held by Bank of America and partially offset the bank fees. (b). Monies seized by the Police Department and held in escrow until adjudication have been included in the savings account category at the request of the City auditors. These funds were added to the Prior Year Cost column. Cash and Investment Custody (statements and reconciliations are available on request) Union Bank Institutional Custody California Local Agency Investment Fund Bank of New York Trustee Bank of America Citizens Business Bank JP Morgan Chase Bank Internal change funds 56,306, , ,355, , ,377, ,079, , , Cash and investments total 77,017, $ 77,060, , Date Printed: 6/17/2014 1

4 Investment Portfolio Detail - Unaudited May 31, 2014 Investment S&P Par Purchase Premium Purchase Maturity Coupon Purchase Current Days to Type Rating Value Market Value (a) Price (Discount) or Dated Date Rate Yield (b) Yield (a) Maturity (1) State Investment Pool (LAIF) Today 0.23% 0.23% 0.23% Today (2) CD Investment in Local Banks 09/20/13 09/20/ % 0.36% 0.36% 111 (3) CD Compass Bk 06/02/12 06/02/ % 0.80% 0.80% 2 ) (4) CD CD BMW Bank of NA 250, /22/12 06/23/14 23 (5) CD CD Sallie Mae Bank 08/15/12 08/15/ % 0.90% 0.90% 76 ) 250, (6) CD Sovereign Bank 150, /29/12 08/29/14 90 CD CD Bank of of China New York City 250, /01/13 11/03/ % 0.35% 0.35% 156 (7) (8) CD 11/30/12 11/28/ % 0.50% 0.50% ) CD Synovus Bank GA 249, (9) CD 06/08/12 12/08/14 ) CD Huntington National Bk 250, (10) CD Safra Natl Bank 250, /14/12 12/15/ (11) CD GE Cap Finl Inc. 251, /06/12 01/06/ % 1.50% 1.49% 220 (12) CD Medallion Bank UT 249, /29/13 04/29/ % 0.35% 0.35% 333 (13) CD Privatebank & Trust 249, /09/13 05/ % 0.35% 0.35% 345 (14) CD Tennessee State Bank 249, /20/13 05/20/ % 0.30% 0.30% 354 (15) Corp Bank of New York Melon A+ 1,003, ,002, , /13/13 10/23/ % 0.60% 0.70% 510 (16) Corp General Electric Capital Corp 1,025, /09/11 11/09/ % 2.25% 2.19% 527 (17) CD Key Bank 250, /08/13 11/09/ % 0.45% 0.45% 527 (18) CD Ally Bank 248, /05/14 03/07/ % 0.45% 0.45% 646 (19) CD Paragon Comm Bank 248, /13/14 03/14/ % 0.45% 0.45% 653 (20) CD First Nat Bk WI 248, /14/14 03/14/ % 0.45% 0.45% 653 (21) Corp General Electric Capital Corp 1,044, /26/11 05/09/ % 2.95% 2.82% 709 (22) CD Eaglebank 251, /21/12 05/20/ % 0.65% 0.65% 720 (23) CD Georgia Bk & Tr 251, /21/12 05/20/ % 0.50% 0.50% 720 (24) Agency Federal Home Ln Mtg Corp 1,001, ,002, , /02/14 08/08/ % 0.76% 0.85% 800 (25) Agency Federal Natl Mtg Assn 997, /15/13 08/15/ % 0.50% 0.50% 807 (26) Agency Federal Natl Mtg Assn 998, /25/13 08/25/ % 0.60% o.6o% 8 17 (27) CD Heritage Bank Corn 251, /27/12 08/26/ % 0.60% 0.60% 818 (28) Agency Federal Home Loan Bank 999, /24/12 10/24/ % o.6o% 0.60% 877 (29) CD Everbank Jacksonville Fla 251, /31/12 10/31/ % 0.90% 0.90% 884 (30) CD Abacus Federal Savings 245, /28/12 11/28/16 o.6o% 0.60% 0.61% 912 (31) CD Bank of Baroda 250, /13/13 12/13/ (32) CD Merrick Bank 250, /17/13 12/19/ % 0.85% 0.85% 933 (33) CD First Priority Bank 250, /27/13 12/27/16 o.80% 0.80% 0.80% 941 (34) Agency Federal Natl Mtg Assn 1,000, /30/13 12/30/ % o.8o% 0.80% 944 (35) CD Comenity Capital Bank 250, /03/ 14 01/03/ % 0.85% 0.85% 948 (36) Agency Federal Farm Credit Bank 995, , (2,000.00) 10/29/12 01/ % 0.69% 0.64% 956 (37) Agency Federal Farm Credit Bank 1,999, /13/13 02/13/ % 0.79% 0.79% 989 (38) Agency Federal Home Loan Bank 1,000, /27/ 14 03/27/17 L00% 1,031 (39) Agency Federal Farm Credit Bank 997, /01/13 05/01/ % 0.69% 0.69% 1,066 (40) CD Sterling Savings Bank 249, /03/13 05/03/ % 0.65% 0.65% Lo68 (41) Agency Federal Home Loan Bank 992, /08/12 05/08/ % 0.74% 1,073 (42) Agency Federal Natl Mtg Assn 988, /22/13 05/22/ % 0.70% 0.71% 1,087 (43) Agency Federal Farm Credit Bank 06/20/12 06/20/17 tio% 1.10% 1.10% 1,116 (44) Agency Federal Home Ln Mtg Corp 990, /27/12 06/27/ % 1,123 (45) Agency Federal Farm Credit Bank 07/11/12 07/10/ % 1.04% 1.04% 1,136 (46) Agency Federal Farm Credit Bank 998, /25/12 07/24/ % 0.97% 0.97% 1,150 6/17/2014 9:46

5 Investment Portfolio Detail - Unaudited May 31, 2014 Investment S&P Par Purchase Premium Purchase Maturity Coupon Purchase Current Days to Type Rating Value Market Value (a) Price (Discount) or Dated Date Rate Yield (b) Yield (a) Maturity (47) Agency Federal Home Ln Mtg Corp (48) Corp Pepsico Inc (49) Agency Federal Farm Credit Bank (50) Agency Federal Farm Credit Bank A- 1,110, , ,114, ,997, ,118, , ,999, , (1,000.00) (750.00) 07/24/12 01/07/13 09/05/12 09/18/12 07/24/17 08/13/17 09/05/17 09/05/ % 1.13% 1.13% 1, % 1.08% 1.25% 1, % 1.01% 0.99% 1, % 0.98% 0.97% 1,193 (51) CD Gold Coast Bank (52) CD World Financial Capital (53) Agency Federal Natl Mtg Assn (54) CD American Express Centurion (55) Agency Federal Farm Credit Bank 245, , , , , , , /19/12 09/27/12 09/27/12 10/04/12 10/10/12 09/19/17 09/21/17 09/27/17 10/04/17 10/10/ % 1, % 1.05% 1.04% 1,209 1, % 1.55% 1.54% 1, % 0.90% 0.91% 1,228 (56) Agency Federal Natl Mtg Assn (57) Agency Federal Natl Mtg Assn (58) Agency Federal Home Ln Mtg Corp (59) Agency Federal Home Loan Bank (60) Agency Federal Farm Credit Bank 997, , , , , , /18/12 10/25/12 12/11/12 12/28/12 (1,000.00) 01/22/13 10/18/17 10/25/17 12/107 12/28/17 01/22/ % 0.87% 0.87% 1, % 0.90% 0.91% 1, % 1, % 0.84% 0.85% 1, % 0.96% 0.94% 1,332 (61) Agency Federal Home Loan Bank (62) Agency Federal Natl Mtg Assn (63) Agency Federal Natl Mtg Assn Step (64) Agency Federal Home Loan Bank (65) Agency Federal Home Loan Bank 992, , , , , (250.00) 01/30/13 (250.00) 01/30/13 01/30/13 02/05/13 02/08/13 01/30/18 01/308 01/30/18 02/05/18 02/08/ % 1.01% 1, % 1.03% 1.02% 1,340 1, % 1, % 1.05% 1.06% 1,349 (66) Agency Federal Farm Credit Bank (67) Agency Federal Home Loan Bank (68) Agency Federal Natl Mtg Assn (69) Agency Federal Natl Mtg Assn Step (70) Agency Federal Home Ln Mtg Corp 998, ,988, , , , /20/13 02/22/13 02/22/13 02/28/13 04/25/13 02/20/18 02/22/18 02/22/18 02/28/18 04/25/18 1,361 1,363 1,363 1,369 1,425 (71) Corp Microsoft (72) Agency Federal Home Ln Mtg Corp (73) Agency Federal Home Loan Bank (74) Agency Federal Home Loan Bank Step (75) Agency Federal Home Loan Bank AAA 1,004, ,001, ,000, ,000, ,001, , (6,850.00) 12/11/13 (250.00) 12/27/13 02/19/14 03/104 04/17/14 12/06/18 12/27/18 02/19/19 03/109 04/17/ % 1.85% 2.00% 1.77% 1.86% 2.00% 1.64% 1.85% 2.01% 1,650 1,671 1,725 1,745 1,782 (76) Agency Federal Home Loan Bank Step (77) Muni California State - Taxable (78) Total Investments (79) Investment income in transit (80) Savings, checking and change funds (81) Trustee-held investments (82) Grand total - cash and investments A 1,002, ,010, ,951, ,916, ,017, ,007, ,959, , ,060, /29/ 14 04/29/ % 1.85% 1.85% 7, /02/ 14 05/ % 2.10% 2.23% 1,794 1,796 Averages 0.84% I 0.84% I Year Treasury Bill 0.37% (a) Provided by Union Bank, Institutional Custody at month end excluding LAIF and (b) Provided by Bloomberg at time of purchase excluding LAIF and local CDs. 6/17/2014 9:46