AC 11-28-2022 PresentationsNovember 28, 2022
Treasurer’s Investment Report
Month ending October 31, 2022
2
Cash and Investments –General Ledger Balance
As of October 31, 2022
Beginning Balance Ending Balance % of Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo)29,918,673 26,375,226 12%
Workers' Compensation Checking (Wells Fargo)25,305 52,305 0%
Payroll Checking (Wells Fargo)--0%
Restricted for Bond Repayments1 (BNY Mellon)8,333 8,333 0%
Petty Cash and Change 5,000 5,000 0%
Cash Equivalents
Local Agency Investment Fund 21,059,752 21,131,545 10%
Investments
Investments (Chandler)148,845,755 148,845,755 70%
Restricted for Pension (PARS)17,240,051 17,240,051 8%
Total Cash and Investments $217,102,869 $213,658,215 100%
Cash and Investments –General Ledger Balance
As of October 31, 2022
1 Cash held by fiscal agent for bond repayments 3
Beginning Balance Ending Balance % of Portfolio
Cash in banks1
Operating Checking (Wells Fargo)31,613,882 26,702,950 13%
Workers' Compensation Checking (Wells Fargo)25,694 53,386 0%
Payroll Checking (Wells Fargo)--0%
Restricted for Bond Repayments2 (BNY Mellon)8,333 8,333 0%
Cash Equivalents
Local Agency Investment Fund 21,099,180 21,170,973 10%
Investments
Investments (Chandler)145,810,488 145,375,884 69%
Restricted for Pension (PARS)16,385,602 17,129,563 8%
Total Cash and Investments $214,943,179 $210,441,089 100%
Cash and Investments –Bank Balance
As of October 31, 2022
1 Unadjusted balance from the bank statement. Does not reflect outstanding checks or deposits in transit.
2 Cash held by fiscal agent for bond repayments 4
1.All of the City’s investments are in compliance
with state law and the City’s Investment Policy
2.In compliance with California Government Code
53646 (b)(3), the City has sufficient funds to meet
its expenditure requirements for the next six
months
Compliance
5
Questions?
November 28, 2022
Treasurer’s Report
Month ending October 31, 2022
2
Receipts, Disbursements, and Cash Balance
Beginning Balance Ending Balance
Fund Type Fund Number/Name as of September 30, 2022 Receipts Disbursements Journal Adjustments as of October 31, 2022
General Fund 100 General Fund 105,552,091 5,908,837 (7,599,735) 45,493 103,906,685
General Fund 130 Investment Fund 118,204 - - 71,793 189,996
Special Revenue Funds 210 Storm Drain Improvement 2,216,227 - (610) - 2,215,616
Special Revenue Funds 215 Storm Drain AB1600 1,806,376 2,468 - - 1,808,844
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 808,871 4,025 (85,718) - 727,179
Special Revenue Funds 260 CDBG 765,401 662 (10,706) - 755,357
Special Revenue Funds 261 HCD Loan Rehab 221,894 - - - 221,894
Special Revenue Funds 265 BMR Housing 5,616,413 6,000 (45,738) - 5,576,675
Special Revenue Funds 270 Transportation Fund 13,319,230 248,563 (585,605) - 12,982,188
Special Revenue Funds 271 Traffic Impact 721,290 - - - 721,290
Special Revenue Funds 280 Park Dedication 20,193,306 - (622,941) - 19,570,366
Special Revenue Funds 281 Tree Fund 71,648 - - - 71,648
Debt Service Funds 365 Public Facilities Corp 2,682,650 - - - 2,682,650
Capital Project Funds 420 Capital Improvement Fund 28,248,755 25,000 (365,207) - 27,908,548
Capital Project Funds 427 Stevens Creek Corridor Park 165,031 - (1,725) - 163,306
Capital Project Funds 429 Capital Reserve*11,620,392 - - - 11,620,392
Enterprise Funds 520 Resource Recovery 5,861,135 119,834 (170,662) - 5,810,307
Enterprise Funds 560 Blackberry Farm 1,157,993 750 (43,608) 52,444 1,167,579
Enterprise Funds 570 Sports Center 1,983,204 - (66,214) 179,314 2,096,303
Enterprise Funds 580 Recreation Program 3,483,241 2,700 (76,924) 57,414 3,466,431
Internal Service Funds 610 Innovation & Technology 4,482,973 - (256,299) - 4,226,674
Internal Service Funds 620 Workers' Compensation 3,770,842 - (3,294) (53,000) 3,714,549
Internal Service Funds 630 Vehicle/Equip Replacement 1,156,962 - (69,797) - 1,087,165
Internal Service Funds 641 Compensated Absence/LTD 1,547,759 - 814 - 1,548,573
Internal Service Funds 642 Retiree Medical (469,019) - (112,981) - (582,000)
Total 217,102,869$ 6,318,839$ (10,116,950)$ 353,457$ 213,658,215$
3
Fund Balances/Net Position
Beginning Fund Balance Ending Fund Balance
Fund Type Fund Number/Name as of September 30, 2022 Revenues Expenditures as of October 31, 2022
General Fund 100 General Fund 90,735,482 3,224,352 4,880,773 89,079,062
General Fund 130 Investment Fund 229,425 - - 229,425
Special Revenue Funds 210 Storm Drain Improvement 2,216,227 - 1,660 2,214,566
Special Revenue Funds 215 Storm Drain AB1600 1,806,376 2,468 - 1,808,844
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 832,947 - 89,706 743,241
Special Revenue Funds 260 CDBG 1,293,352 170 10,706 1,282,815
Special Revenue Funds 261 HCD Loan Rehab 221,894 - - 221,894
Special Revenue Funds 265 BMR Housing 5,616,413 6,000 45,748 5,576,665
Special Revenue Funds 270 Transportation Fund 13,315,332 248,563 621,449 12,942,446
Special Revenue Funds 271 Traffic Impact 721,290 - - 721,290
Special Revenue Funds 280 Park Dedication 20,193,306 - 640,592 19,552,714
Special Revenue Funds 281 Tree Fund 71,648 - - 71,648
Debt Service Funds 365 Public Facilities Corp 2,682,650 - - 2,682,650
Capital Project Funds 420 Capital Improvement Fund 25,182,385 25,000 373,272 24,834,113
Capital Project Funds 427 Stevens Creek Corridor Park 165,031 - 1,725 163,306
Capital Project Funds 429 Capital Reserve*11,620,392 - - 11,620,392
Enterprise Funds 520 Resource Recovery 5,239,734 119,834 192,464 5,167,104
Enterprise Funds 560 Blackberry Farm 881,193 52,940 38,228 895,905
Enterprise Funds 570 Sports Center 2,533,642 231,520 131,758 2,633,405
Enterprise Funds 580 Recreation Program 3,219,757 120,835 77,152 3,263,440
Internal Service Funds 610 Innovation & Technology 4,135,052 - 278,371 3,856,681
Internal Service Funds 620 Workers' Compensation 2,345,172 - 56,293 2,288,879
Internal Service Funds 630 Vehicle/Equip Replacement 2,781,590 - 69,164 2,712,426
Internal Service Funds 641 Compensated Absence/LTD 1,547,759 9,134 8,320 1,548,573
Internal Service Funds 642 Retiree Medical (469,019) - 112,981 (582,000)
Total 199,119,029$ 4,040,817$ 7,630,365$ 195,529,482$
Questions?
November 28, 2022
Structure of Potential Budget
Review
2.88.100 Duties–Powers–Responsibilities.
The powers and functions of the Audit Committee shall be as follows:
A.To review the annual audit report and management letter
B.To recommend appointment of auditors
C.To review the monthly Treasurer’s report
D.To recommend a budget format
E.To review City investment policies and internal controls of such policies
F.To recommend appointment of internal auditors
G.To review internal audit reports
H.To review quarterly Fraud, Waste, and Abuse Program reports
(Ord. 22-2243, §1, 2022; Ord. 20-2208, §1, 2020; Ord. 1679, §1 (part), 1995)
Municipal Code
2
•Reviewing budgets is not currently in the
Audit Committee’s charter
•How would the Audit Committee be able
to review budgets?
•City Council would need to grant the
authority to the Audit Committee via an
ordinance or resolution
Amending the Municipal Code
3
Budget Report Date Reviewed by City Council
First Quarter Report November 15, 2022
Mid-Year Report February 28, 2023
Third Quarter Report May 16, 2023
Proposed Budget May 16, 2023
Adopted Budget June 20, 2023
Current Budget Calendar
4
Questions?