HomeMy WebLinkAboutResolution No. 95-C270 0
RESOLUTION NO. 95—C27
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA,
CALIFORNIA, ADOPTING THE CITY TREASURER'S STATEMENT OF CASH
BALANCES DETAILING DEPOSITORIES OF FUNDS AND SECURITIES
WHEREAS, the City of Azusa is a Municipal Corporation that was organized under the general
laws of the State of California on December 29, 1898, . and
WHEREAS, the City Treasurer, the Deputy City Treasurer and the Finance Director of the City of
Azusa are continually seeking ways in which to streamline the manner in which the City transacts its
financial business, and
WHEREAS, the attached Statement of Cash Balances details the City's depositories of funds, and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AZUSA, does hereby
authorize the Treasurer or the Deputy Treasurer of the City of Azusa to enter into deposit account, cash
management and service agreement(s) with any of the banks detailed on the attached statement on behalf
of the City of Azusa, and to designate from time to time who may sign checks and otherwise give
instructions regarding this City's corporate funds and accounts.
BE IT FURTHER RESOLVED, that this authorization is in addition to any other authorization(s)
in effect and shall remain in force until the banks receive written notice of revocation at the offices where
the accounts are maintained or at any other address specified by the banks.
PASSED, APPROVED AND ADOPTED this Oth day of MARCIi;, 1995.
MAYO
I HEREBY CERTIFY that the foregoing Resolution No. 95—C27 was duly adopted by the
City Council of the City of Azusa at a regular meeting thereof, held on the 6th day of, -MARC 1.1995
by the following vote of the Council:
AYES COUNCILMEMBERS:HARDMSON,MADRID, NARANJO,BEEBE,ALEYANDER
NOES COUNCILMEMBERS:NONE
AUQWVM nnTTWi "nr rnc. NONE
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CITY OF AZUSA
TREASURY BOOK BALANCES -BANK ACCOUNTS
JANUARY 1995
Bank Accounts Account No.
Maximum Allowable Deposit
Amount
Pledged Securities
Maturity
Interest
Well Fargo Bank
General Checking
0606-022515
No AmA
$1,076,163.27
FDIC up to $100,000.00
Ongoing
1.250%
'
41 W.000 collatert ed by 110% in govnt securiliea
Worker's Compensation Checking
06064)50318
No limit
100,000.00
FDIC up to $100,000 00
Ongoing
Nano
>$I00,000 collaterized by 110% in govnl securities
(0doney Mkt Account
6606579993
No limit
671,897.38
FDIC up to $100,000 00
Ongoing
3.250%
41 W,000 collaterized by 110% In govn't securities
Money MM Account
6606-580041
No limit
419,668.61
FDIC up to $100,000.00
Ongoing
3.250%
>$I00,000 collaterized by 110% In govnt sewdtlas
Money Mkt Account
6606577948
No Amit
402,352.63
FDIC up to $100,000.00
Ongoing
3.250%
>$IW,000 oollatertmd by 110% in govnl securities
Trustee for State of California
66064M9055
No limit
90,861.77
FDIC up to $100,ODD.00
Ongoing
2.500%
4100,000 collaterized by 110% In govM securities
Wells Fargo Bank Sub -Total
2,760,943.66
Loral Agency Investnknt Fund (LAIF)
$20,000,000.00
14,257,369.43
Backed by faith 8 credit of the State of California
Ongoing
5.528%
LA. County Pooled Inveatrnent Fund
No Amit
4,771,532.27
Barked by faith 8 credit of the County of LA.
Ongoing
5.460%
First Interstate Bank
Payroll Checking
173-0,q8000
No rm *
100,000.00
FDIC up to $100,ODO.OD
>$100,000 collatertzed by 110% In govn'tsecurities
Savings Bank
Dr. Covington Investnrent
11078466
No Amit
25,000.00
FDIC up to $100,000.00
05/19195
3 720%
4100,000 collaterized by 110% In govnt securities
Dr. Covington Investrnent
45073079
No Anntl
10,500.15
FDIC up to $100,000.00
Ongoing
2.400%
>$100,000 cdlaterized by 110% in gown/[ sea
American Savings Bank Sub -Total
35,500.15
Great Western
Consrmrer Service Savings
No Amt
620,377.38
FDIC upto $100,000.00
04119/95
5.500%
>$100,000 co0 wtmd by 110% tngovnl aetasities
Deferred Campmsadm Plan
WA
3.828.030.17
Allocation of dsk among vwkm kmurance oo.
Ongokrp
5.790%
Great Western Savings Banc Sub -Total
4,448,407.55
to
6.950%
Lincoln National Life Insurance Company
Deferred Compensation Plan WA 1,062,378.87 Allocation of dsk among various Insurance co.
Certificates of Deposit
Fidelity Federal No 9m9 100,0110.00 FDIC up to $100,000.00
>$100,OOD Cdlatertzed by 110% in govnl securities
American Savings No Amit 100,OOD.00 FDIC up to $100,000.00
>$100,0110 collater¢ed by 110% in govnl securities
#AL - CITY OF AZUSA BANK ACCOUNTS $27,836, W 1.93
Interest Collections $201,909.04
•
Ongoing Various
08/26/95 4.70D%
05120/95 5.500%
0
CITY OF AZUSA
0
CITY TREASURER'S STATEMENT OF CASH BALANCES
JANUARY 1998
Beginning Cash Balance $27,633,632.91
(All Accounts & Investments)
Receipts (All Sources) 5,752,356.54
Disbursements 5,749,857.52
Net Change 2,499.02
Ending Cash Balance
(All Accounts and Investments)
2/28/95 12:12 PM CASHTOTL.XLS
$27,636,131.93
•--
Robert E. Talley, City Treasurer
0
CITY OF AZUSA
BREAKDOWN OF CASH AND INVESTMENTS
AS OF JANUARY 31, 1995
Fund Name
General
State Gas Tax
Proposition "A"
Proposition "C"
CDBG
Senior Nutrition
Operation Head Start
Air Quality Improvement
Grants and Seizures
Consumer Services
Central Services
Self Insurance
Employee Benefits
Capital Improvement
Dwelling Tax (Quimby)
Special Deposits
Water
Sewer
Light
Azusa Valley Water Company
Total Cash and Investments
2/28/95 12:10 PM C&ITOTAL.XLS
6
Cash and
Investments
$8,665,519.36
143,062.00
516,152.54
467,263.92
(298,922.34)
(45,104.85)
(338,745.01)
83,686.02
158,016.16
248,252.09
375,631.79
(335,894.63)
(31,070.89)
(2,282.59)
154,182.64
5,211,033.07
2,186,700.07
1,404,273.76
2,120,868.13
6,953,510.69
$27,636,131.93