HomeMy WebLinkAboutB- 7 city of Redevelopment Agency Treasurer's Statement fll:s92
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CONSENT CALENDAR
TO: HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: URIEL E. MACIAS, REDEVELOPMENT AGENCY TREASURER��J/.�%G�G �
DATE: FEBRUARY 12, 2003
SUBJECT: CITY OF AZUSA REDEVELOPMENT AGENCY TREASURER'S STATEMENT OF CASH
BALANCES FOR THE MONTH OF JANUARY 2003
RECOMMENDATION
It is recommended that the Board Members receive and file the Agency Treasurer's Statement of
Cash Balances for the Azusa Redevelopment Agency for the month of January 2003.
BACKGROUND
Transmitted herewith is the /agency Treasurer's Statement of Cash Balances for the Azusa
Redevelopment Agency for the month of January 2003. Agency investments are made in
accordance with the Redevelopment Agency Investment Policy approved and adopted with
Resolution No. 02-R25 dated September 16, 2002, and Government Code Section 53601.
In January, Redevelopment Agency cash and investment balances increased by $793,744.31.
Cash received during the month totaled $793,744.31, and nothing was disbursed. The City
advanced $783,305.32 to the Agency in January.
The Redevelopment Agency is the issuer of the 1994 and 1997 Merged Project Tax Allocation
Bonds. Of the total cash and investments of $8,934,951.28, U.S. Bank, the fiscal agent, held
$1,917,516.43 on behalf of the Agency. These funds are restricted for payment of debt service
on the bonds. The remaining$7,017,434.85 was available for Agency operating and debt service
expenses.
FISCAL IMPACT
The balance of cash and investments and projected revenues for the next six months are expected
to be sufficient to meet cash disbursement requirements for at least the next six months.
Prepared by: Roseanna J.Jara,Sr. Acct.-Redevelopment
UEM :RJI/cs
CITY OF AZUSA REDEVELOPMENT AGENCY
AGENCY TREASURER'S STATEMENT OF CASH
AND INVESTMENT BALANCES
JANUARY 2003
Beginning Cash Balance $8,141,206.97
(All Restricted and Unrestricted Accounts & Investments)
Receipts (All Sources) 793,744.31
Disbursements 0.00
Ending-Cash Balance $8,934,951.28
(All Restricted and Unrestricted Accounts & Investments)
Uriel E. Macias. Agency Treasurer
CITY OF AZUSA
REDEVELOPMENT AGENCY
TREASURY BOOK BALANCES-CASH AND INVESTMENTS
JANUARY 2003
Maximum
Deposits Interest Mkt
Bank Accounts Allowed Amount Pledged Securities Maturity Rate Value
CASH AND INVESTMENTS HELD BY AGENCY TREASURER
Wells Fargo Bank
Government Checking No limit $2,738,06 FDIC up to$100,000.00 Ongoing 0.000% $2,738.06
>$100,000 collaterized by 110%in govn't securities
Securities-Federal Home Loan Note No Limit 1,000,000.00 Backed by faith&credit of Federal Home Loan Bank(FHLB) 08/08/07 4.250% 1,014,060.00
Local Agency Investment Fund(LAIF) $20,000,000.00 6,014,696.79 Backed by faith&credit of the State of California Ongoing 2.103% 6,061,060.61
SUBTOTAL CASH AND INVESTMENTS
HELD BY AGENCY TREASURER: $7,017,434.85 $7,077,858.67
Interest Collections: $25,155.59
CASH AND INVESTMENTS HELD BY FISCAL AGENT
U.S.BANK,FISCAL AGENT
1994 Merged Protect Tax Allocation Bonds
1994A Special Fund
Cash No limit $451,685.67 FDIC up to$100,000.00 Ongoing 0.000% $451,685.67
>$100,000 collaterized by 110%in govn't securities
First American Treasury/MMkt No limit $39.13 N/A Ongoing 0.840% 39.13
1994A Reserve Account
Cash No limit 0.00 FDIC up to$100,000.00 Ongoing 0.000% 0.00
>$100,000 collaterized by 110%in govn't securities
First American Treasury/MMkt No limit 32,479.23 N/A Ongoing 1.210% 32,479.23
Transamerica Life Investment Agr. N/A 952,188.75 Guaranteed Investment Agreement 08/01/23 6.820% 952,188.75
1994 Merged Project Tax Allocation Bonds Subtotal: $1,436,392.78 $1,436,392.78
Interest Collections: $32,469.72
1997 Merged Protect Tax Allocation Bonds
1997A Special Fund
Federated Auto Gov't Fund/MMkt No limit 11.80 N/A Ongoing 0.000% 11.80
1997A Reserve Account
CITY OF AZUSA
REDEVELOPMENT AGENCY
TREASURY BOOK BALANCES-CASH AND INVESTMENTS
JANUARY 2003
Maximum
Deposits Interest Mkt
Bank Accounts Allowed Amount Pledged Securities Maturity Rate Value
Cash No limit 0.00 FDIC up to$100,000.00 Ongoing 0.000°/ 0.00
>$100,000 collaterized by 110%in govn't securities
Federated Auto Gov't Fundi No limit 13,469.35 NIA Ongoing 0,860% 13,469.35
Morgan Guaranty Trust Company No limit 467,642.50 Guaranteed Investment Agreement Ongoing 5.750°/ 467,642.50
1997 Merged Project Tax Allocation Bonds Subtotal: $481,123.65 $481,123.65
Interest Collections: $13,370.11
SUBTOTAL CASH AND INVESTMENTS
HELD BY FISCAL AGENT: $1,917,516.43 $1,917,516.43
Total-Azusa Redevelopment Agency
Cash and Investments: $8,934,951.28 $8,995,375.10
Total Interest Collections: $70,995.42
Source of Market Value Information:
BNY Western,Trustee
U.S. Bank,Trustee
Local Agency Investment Fund(LAIF)
Wells Fargo Institutional Securities
Tax Allocation Bond Data is based on Trustee-generated Statements;bond funds listed
herein are restricted for payment of debt service and governed by
shot regulations described in the Trust Indentures.
Local Agency Investment Fund(LAIF)