HomeMy Public PortalAboutA2010-08-03LRA~-~°d LY1lUC1C~ [~ EI/E LP~IE~I~ A~ E
~gt!£~g~~4 11330 BULLIS ROAD LYNWOOD, CALIFORNIA 90262-3845 (310} 603-0220
Maria T. Santillan, Chair
Aide Castro, Vice Chair
Alfredo Flores, Member
Jim Morton, Member
Ramon Rodriguez, Member
This Agenda contains a brief general description of each item to be considered. Copies of the Staff
reports or other written documentation relating to each item of business referred to on the Agenda are on
file in the Office of the City Clerk and are available for public inspection. Materials related to an item on
this Agenda submitted to the Agency Board after distribution of the Agenda packet are available for public
inspection at the Agency Secretary's office at the above address during normal business hours. Any
person who has a question concerning any of the agenda items may call the City Manager at (310) 603-
0220, ext. 200.
LYNWOOD REDEVELOPMENT AGENCY
AUGUST 3, 2010
REGULAR MEETING
5:00 P.M.
LYNWOOD CITY HALL
11330 BULLIS ROAD
MARIA T. SANTILLAN
CHAIR
AIDE CASTRO
VICE CHAIR
JIM MORTON
MEMBER
ROGER L. HALEY
EXECUTIVE DIRECTOR
FRED GALANTE
AGENCY COUNSEL
JUL.19 200
CITY ~~= L~ i~~00~
CITY CLERt~S OFFICE
N~~`~ ~,c rvre z
~~y c~,,~ ~~ ~s
ALFREDO FLORES
MEMBER
RAMON RODRIGUEZ
MEMBER
OPENING CEREMONIES:
A. Call Meeting to Order
B. Roll Call (FLORES-MORTON-RODRIGUEZ-CASTRO-SANTILLAN)
C. Certification of Agenda Posting by Secretary
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
PUBLIC ORAL COMMUNICATIONS
CONSENT CALENDAR
All matters listed under the Consent Calendar will be acted upon by one motion affirming the
action recommended on the agenda. There will be no separate discussion on these items prior
to voting unless members of the Agency or staff request specific items are removed from the
consent calendar for separate action.
1. RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF LYNWOOD,
CALIFORNIA, ALLOWING AND APPROVING THE DEMANDS AND WARRANTS.
2. TREASURER'S QUARTERLY INVESTMENT REPORT
Comments:
The purpose of this item is to have the Honorable Chair and the Members of the Agency
Board review the Treasurer's Quarterly Investment Report as required by State Statutes.
Recommendation:
The City Treasurer recommends that the Honorable Chair and the Members of the Agency
Board receive and file the attached quarterly Investment Report for the quarter ending June
30, 2010.
2
CLOSED SESSION
3. WITH RESPECT TO EVERY ITEM OF BUSINESS TO BE DISCUSSED IN CLOSED
SESSION PURSUANT TO GOVERNMENT CODE SECTION 54956:9:
CONFERENCE WITH LEGAL COUNSEL -ANTICIPATED LITIGATION
Significant exposure to litigation pursuant to subdivision (b) of Section 54956.9:
One Case
ADJOURNMENT
THE NEXT REGULAR MEETING WILL BE HELD ON AUGUST 17, 2010 AT 5:00 P.M. AT THE
COUNCIL CHAMBERS OF CITY HALL, 11330 BULLIS ROAD, LYNWOOD, CALIFORNIA
,`
~~.
~~~ ~~ AC~EN®A STi4FF REP®RT
>> ~ ,;#~
.~~
DATE: August 3, 2010
TO: Honorable Chairperson and Members of the Agency Board
APPROVED BY: Roger L. Haley, Executive Director~~
~~
PREPARED BY: Robert S. Torrez, Assistant City Manager
Monica Ochoa, Accounting Technician
SUBJECT: Approval of the Warrant Registers
Recommendation:
Staff respectfully recommends that the Agency Chairperson and Board Members
approve the warrant registers for Fiscal Years 2009-2010 and 2010-2011.
Attached Warrant Registers dated August 3, 2010-------------=
AGENDA
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",~ ~ ~~+> A REP R°T
DATE: August 3, 2010
TO: Honorable Chair and Members of the Agency Board
APPROVED BY: Roger L. Haley, City Manager`6t
PREPARED BY: Salvador Alatorre, City Treasurer
Sheila Harding, Deputy City Treasur
SUBJECT: Treasurer's Quarterly Investment Report
Recommendation:
The City Treasurer respectfully recommends that the Lynwood Redevelopment Agency
receive and file the attached Quarterly Investment Report for the quarter ending June
30, 2010.
Background:
In response to the crisis caused by the Orange County investment pool, the State
Legislature in 1995 enacted SB564 and SB866. These laws were enacted as State
Statutes to impose certain mandates regarding investment with public funds. The
statutes have imposed the following mandates:
1. Annual adoption of an Investment Policy that incorporates changes mandated
by the State.
2. Quarterly Investment Reports presented to the Legislative Body or Board
Members.
3. Restriction on the use of certain investment instruments.
The attached Treasurer's Report has been prepared to provide the following
information:
1. Types of investments (including principal, market value rates, and maturity
dates).
2. List of various bank accounts with banking institutions.
3. Statement informing each Agency (City, LRA and LPFA) that they are
expected to have sufficient liquid funds to meet their pooled expenditure
requirements for the next three (3) to six (6) months.
4. Statement informing the Lynwood Redevelopment Agency that ,the
investment portfolio conforms to the adopted investment policy.
Fiscal Impact:
The action recommended in this report will not have a fiscal impact on the City.
Coordinated With:
Bond information provided by the Finance Department.
CITY TREASURER'S
QUARTERLY
INVESTMENT
REPORT
ENDING JUNE 30, 2010
Treasurers report June 2010
CITY OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
SUMMARY
AVERAGE
BOOK PERCENTAGE (%) DAYS TO
INVESTMENTS VALUE PORTFOLIO MATURITY
MANAGED POOL INVESTMENT $ 25,498,997.99 69.29 N/A
CERTIFICATE OF DEPOSIT/PASSBOOK!
MONEY MARKET/CUSTODY HOLDINGS $ 11,303,457.63 30.71 N/A
TOTAL INVESTMENTS AND AVERAGES $ 36,802,455.62 100%
TOTAL INVESTMENTS
$ 36,802,455,62
I certify that this report accurately reflects all pooled investment policy statements
SALVADOR ALATORRE adopted by the City Council on August 15, 1995. A copy of this policy is available
CITY TREASURER at the office of the City Clerk. The Investment Program herein shown provides sufficient
cash flow liquidy to meet 3 to 6 months estimated expenditures.
Treasurers report June 2010
CITY OF LYNWOOD
QUARTERLY INVESTMENT REPORT
ENDING JUNE 30, 2010
CERTIFICATE OF DEPOSITS, BOND FUNDS & MONEY MARKET ACCOUNTS
INVESTMENT CURRENT MATURITY STATED INTEREST
ISSUER BALANCE DATE RATE RECEIVED
US Bank $81,309.32 15-Mar-10 N/A $921.65
CD
US Bank $0.00 N/A 0.04% $0.00
BOND FUNDS
ACCOUNT CLOSED
MONEY MARKET $6,411,326.13 N/A 0.05% $807.94
HUD SECTION/108
BANK OF AMERICA $157,787.19 8-Jun-10 0.3% N/A
CD-LRA
TOTAL $6,650,422.64 $1,729.59
PASSBOOK CHECKING
ENDING JUNE 30, 2010
ADDITIONAL ACCOUNTS CURRENT
BALANCE
LRA - US BANK 949,038.00
LRA - BANCO POPULAR 186,311.69
CITY -GENERAL 1,161,811.04
2,297,160.73
Treasurers report June 2010
ARIOUS ACCOUNTS CITY OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
FACE
VALUE
TATED
RATE
NTEREST
MUNICIPAL INVESTOR ACCOUNTS
US BANK ~ 48,996.20 0.04% 6.16
CITY -PASSBOOKS
US BANK 952.70 0.04% 3.89
CITY - HCDA
US BANK 169,936.79 0.05% 21.40
CITY - LYNWOOD TTEES HUD 1990
US BNK
CITY -RECOVERY ACT JAG GRANT 298,854.82 0.04% 29.88
US BANK 2,789.47 0.04% 0.34
LYN. TR. CENTER
UNF. WORKERS ACC.
US BANK 434,463.78 53.53
LRA ALAMDA HOUSING
US BANK 1,198,419.24 295.87
LRA AREA A HOUSING
US BANK 70,241.11 0.04% 8.73
LRA ALAMEDA TAX INC.
BUSINESS CHECKING ACCOUNT
CITY - US BANK 128,473.65 15.99
HOME PROGRAM
BUSINESS MONEY MARKET
CITY - US BANK 2,746.50 0.04% 0.34
SENIOR BLDG FUND
TOTAL 2,355,874.26 436.13
*Funds transferred to Area A and Alameda accounts
Treasurers report June 2010
CITY OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
CURRENT STATED DATE AMOUNT
ISSUER INVESTMENT BALANCE RATE RECD RECD
State of California LAIF- CITY $23,732,940.64 0.50% 4/15/2010 $28,809.35
State of California LAIF - LRA $1,766,057.35 0.50% 4/15/2010 $2,040.94
TOTAL $25,498,997.99 $30,850.29
Local Agency Investment Fund (LAIF):
The Local Agency Investment Fund is managed by the State Treasurer's Office Investment Division through
the Pooled Money Investment Account (PIMA). The LAIF allows cities, counties and special districts to
place money in a major portfolio and to use the expertise of their Investment Division staff, with no additional
cost to taxpayers. See chart below. The State Treasurer invests money safely, manage cash flow and
enhance financial security. The interest earned is distributed quarterly.
Pooled Money Investment Account
Portfolio Composition
69.4 Billion
6/30/2010
Treasuries
0.94%
Mortgages
Agencies 1z. psi
x8
CDs/BNs 11.
%
Time Deposits s.s~%
Now Accounts o.oo%
Commercial Paper 11.~s%
0.18%
Corporate Bonds
Loans 1o.~s
;%
0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 0.5
Treasurers report June 2010
CITY OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
INVESTMENT PORTFOLIO DETAILS SUMMARY
INVESTMENT BOOK FACE MARKET STATED
ISSUER VALUE VALUE VALUE RATE
MANAGE POOL INVESTMENTS
LAIF CITY
LAIF LRA
TOTAL
BALANCES
CERTIFICATE OF DEPOSIT
CERTIFICATE OF DEPOSIT
PASSBOOK/CHECKING
BOND FUNDS
MONEY MARKET
MONEY MARKET
HUD SECTION/108
BANK OF AMERICA
CD-LRA
TOTAL
23,732,940.64 $23,732,940.64 $23,732,940.64 3.18%
1,766,057.35 $1,766,057.35 $1,766,057.35 3.18%
25,498,997.99 $25,498,997.99 $25,498,997.99
81,309.32
0.00
2,297,160.73
0.00
2,355,874.26
6,411,326.13
$81,309.32
$0.00
$2,297,160.73
$0.00
$2,355,874.26
$6,411,326.13
$81,309.32
$0.00
$2,297,160.73
$0.00
$2,355,874.26
$6,411,326.13
157,787.19 $157,787.19 157,787.19
11,303,457.63 $11,303,457.63 $11,303,457.63
Treasurers report June 2010
CITY.OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
PORTFOLIO SUMMARY
Currently short-term excess cash is primarily invested in the Local Agency Investment Fund (LAIF) administered
by the State Treasurer. LAIF is a high quality investment available in terms of safety, liquidity, and yield. The City
has other investments at US Bank and Bank of America. The following table demonstrates the monthly activity
of cash and investment for previous quarters.
2Q 2010 1 Q 2010 4Q 2009 3Q 2009
April -June January -March October -December July -September
MANAGE POOL INVESTMENTS
LAIF CITY 23,732,940.64 21,804,131.29 18,773,566.01 21,224,486.79
LAIF LRA 1,766,057.35 1,764,016.41 603,685.29 346,000.00
As per Treasurer's Report 25,498,997.99 23,568,147.70 19,377,251.30 21,570,486.79
OTHER RECEIVED INTEREST
CD/PASSBOOK/MONEY MARKET
CUSTODY HOLDINGS 11,303,457.63 9,402,808.22 10,717,853.47 11,050,454.92
As per Treasurer's Reports 36,802,455.62 32,970,955.92 30,095,104.77 32,620,941.71
CITY OF LYNWOOD
QUARTERLY REPORT
ENDING JUNE 30, 2010
TRUSTEE ACCOUNTS
PURCHASE PAR
DATE VALUE
MARKET
VALUE
Lynwood Public. Financing Authority
Tax Allocation Bonds, Series 1999, Alameda
U S Bank Coporate Trust Services
Lynwood Public Financing Authority
Lease Revenue Funding Bonds 2003 A
US Bank Coporate Trust Services
Lynwood Public Financing Authority
Tax Allocation Bonds, Series 1999,Series A
U S Bank Corporate Trust Services
Lynwood Public Financing Authority
Tax Allocation Bonds, Series B
U S Bank Corporate Trust Services
Lynwood Public Financing Authority
Lease Revenue Bonds, Series 1999
US Bank Corporate Trust Services
Lynwood Utility Authority
Series 03 COI ACCOUNT
BNY Trust Company
Lynwood Utility Authority
Enterprise Refunding Revenue Bond, 2008 Series A
BNY Trust Company
Lynwood Untility Authority
Enterprise Revenue Bond 2009 Series A
BNY Trust Company
Oct-99 $1,310,000.00 107,955.00
Aug-03 $8,630,000.00 2,123,593.93
Oct-99 $10,235,000.00 773,401.62
Oct-99 $3,425,000.00 257,603.38
Oct-99 $3,760,000.00 1,673,447.98
Nov-03 $6,930,000.00 19,096.22
May-09 $9,755,000.00 8,666,784.61
Nov-08 $5,732,000.00 0.00
Treasurers report June 2010