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2019 11 13 FACFINANCIAL ADVISORY COMMISSION AGENDA 1 NOVEMBER 13, 2019 REGULAR QUARTERLY MEETING FINANCIAL ADVISORY COMMISSION AGENDA CITY HALL STUDY SESSION ROOM 78-495 Calle Tampico, La Quinta REGULAR MEETING ON WEDNESDAY, NOVEMBER 13, 2019 AT 4:00 P.M. Roll Call: Commissioners: Batavick, Hoffner, Hunter, Lopez, Rosen, Twohey and Chairperson Mills PLEDGE OF ALLEGIANCE PUBLIC COMMENT At this time members of the public may address the Commission on any matter not listed on the agenda. Please complete a “Request to Speak” form and limit your comments to three minutes. The Financial Advisory Commission values your comments; however, in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by GC 54954.2(b). CONFIRMATION OF AGENDA ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS – None CONSENT CALENDAR 1.Approve Minutes Dated October 9, 2019 2.Receive and File Revenue and Expenditure Report Dated July 31, 2019 3.Receive and File Revenue and Expenditure Report Dated August 31, 2019 4.Receive and File the First Quarter 2019/20 Treasury Reports for July, August, and September 2019 BUSINESS SESSION 1.Receive and File the Annual Measure G Sales Tax Oversight Compliance Report STUDY SESSION 1.Discuss the Fiscal Year 2018/19 Year-End Budget Report and Amended Budget Carryovers 2.Discuss the Fiscal Year 2019/20 First Quarter Budget Report 3.Discuss Active Economic Subsidy Agreements Financial Advisory Commission agendas and staff reports are now available on the City’s web page: www.laquintaca.gov FINANCIAL ADVISORY COMMISSION AGENDA 2 NOVEMBER 13, 2019 REGULAR QUARTERLY MEETING DEPARTMENTAL REPORTS 1.Second Quarter 2019 (April – June) Sales Tax Update for the City of La Quinta 2.2019 Development Impact Fee Study Subcommittee Update 3.Verbal Update on 2018/19 Audits 4.Verbal Update on Bank of the West Banking Services Implementation COMMISSIONERS’ ITEMS ADJOURNMENT The next regular quarterly meeting of the La Quinta Financial Advisory Commission will be held on February 12, 2020 in the La Quinta Study Session Room, 78-495 Calle Tampico, La Quinta, CA 92253 and commencing at 4:00 p.m. DECLARATION OF POSTING I, Jessica Delgado, Management Assistant, of the City of La Quinta, do hereby declare that the foregoing Agenda for the La Quinta Financial Advisory Commission regular quarterly meeting was posted on the City’s website, near the entrance to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and 51-321 Avenida Bermudas, on November 8, 2019. DATED: November 8, 2019 Jessica Delgado, Management Assistant City of La Quinta, California Public Notices The La Quinta City Study Session Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk’s office at (760) 777-7092, twenty- four (24) hours in advance of the meeting and accommodations will be made. If special electronic equipment is needed to make presentations to the Financial Advisory Commission (FAC), arrangements should be made in advance by contacting the City Clerk’s office at (760) 777-7092. A one (1) week notice is required. If background material is to be presented to the FAC during an FAC meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the Management Assistant for distribution. It is requested that this take place prior to the beginning of the meeting. Any Writings or documents provided to a majority of the FAC regarding any item(s) on the agenda will be made available for public inspection at the Community Development counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. FINANCIAL ADVISORY COMMISSION MINUTES 1 OCTOBER 9, 2019 SPECIAL MEETING FINANCIAL ADVISORY COMMISSION SPECIAL MEETING MINUTES WEDNESDAY, OCTOBER 9, 2019 CALL TO ORDER A special meeting of the La Quinta Financial Advisory Commission (Commission) was called to order at 4:00 p.m. by Chairperson Mills. PRESENT: Commissioners: Batavick, Hoffner, Rosen, Twohey, and Chairperson Mills ABSENT: Commissioners: Hunter and Lopez PLEDGE OF ALLEGIANCE Commissioner Batavick led the audience in the Pledge of Allegiance. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None CONFIRMATION OF AGENDA Chairperson Mills said the title of Business Session Item No. 3 should read: “Appoint Two Financial Advisory Commissioners to Formulate and Prepare the Annual Measure G Sales Tax Oversight Compliance Report.” The Commission concurred. ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS 1. PROCLAMATION – RECOGNITION OF SERVICE FOR OUTGOING COMMISSIONER TURBOW Finance Director Romero said Commissioner Turbow was unable to attend the meeting due to observing a religious holiday. The Commission expressed their appreciation for Commissioner Turbow’s service and commitment. 2. 2017/18 COMPREHENSIVE ANNUAL FINANCE REPORT AWARD Finance Director Romero said the City was awarded the Certificate of Achievement for Excellence in Financial Reporting by Government Finance Officers Association of the United States and Canada for its Comprehensive Annual Financial Report; staff was recognized at the October 1, 2019 Council meeting; the City has received this award consecutively for 22 years; the Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting; and explained the disclosure requirements the City must follow and comply with in order to receive this notable recognition. CONSENT CALENDAR ITEM NO. 1 FINANCIAL ADVISORY COMMISSION MINUTES 2 OCTOBER 9, 2019 SPECIAL MEETING The Commission congratulated Staff. 3. CITY BOARDS AND COMMISSIONS – ROLES AND RESPONSIBILITIES OF APPOINTED MEMBERS City Clerk Radeva provided the Commission with copies of the Commissions’ Handbook; background on how the Commission was established; and gave a presentation on the roles and responsibilities of members serving on City Boards and Commissions; and a brief overview of California state laws and La Quinta Municipal Code statutes governing public meetings (Brown Act), disclosure of financial interests (Political Reform Act and Form 700), conflict of interest, City’s Rules of Procedure, requesting excused absences, required trainings, and the California Public Records Act. COMMISSIONER HUNTER JOINED THE MEETING AT 4:08 P.M. Finance Director Romero gave an overview of the work items slated for Commission review in fiscal year 2019/20. General discussion followed regarding annual notifications for Form 700 filings, and related reporting guidelines; as well as state mandated training requirements and online training opportunities. PUBLIC SPEAKER: Steve Cherry, La Quinta – asked if Forms 700 financial disclosure filings are a public record; Staff confirmed. Commissioner Rosen inquired if state training requirements are completed with another jurisdiction, if they are transferrable to the City; Staff confirmed. CONSENT CALENDAR ITEMS 1. APPROVE FINANCIAL ADVISORY COMMISSION MINUTES DATED AUGUST 7, 2019 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JUNE 30, 2019 3. RECEIVE AND FILE THE FOURTH QUARTER 2018/19 TREASURY REPORTS FOR APRIL, MAY, AND JUNE 2019, WITH FISCAL YEAR-END SUMMARY Chairperson Mills asked Staff to provide a breakdown of funds or explanation of titles to the Commission with the treasury report; Finance Director Romero said a description of funds is included at the end of the City’s budget, and Staff will email it to the Commission. Financial Services Analyst Hallick mentioned that the report was inadvertently missing a section that includes the breakdown of total interest earnings for all investments and provided the Commission with the missing section. Motion – A motion was made and seconded by Commissioners Twohey/Batavick to approve the Consent Calendar, as submitted. Motion passed: ayes 6, noes 0, absent 1 (Lopez). FINANCIAL ADVISORY COMMISSION MINUTES 3 OCTOBER 9, 2019 SPECIAL MEETING BUSINESS SESSION 1. REVIEW AND APPROVE CASH MANAGEMENT POLICY Senior Accountant Martinez presented the staff report, which is on file in the Finance Department. Senior Accountant Martinez provided the Commission with an overview of the Cash Management Policy (Policy); the City’s current process for cash handling; explained the City’s primary insurance provider, California Joint Powers Insurance Authority, and the CalTrans Department of Transportation audit team recommended that the City formally adopt a Policy to have a reference document for Staff, during audits, and it is a best practice. Staff noted that the Housing Commission had reviewed and approved the Policy as well. General discussion followed regarding the Policy, including internal control checks and balances; segregation of duties and cash vault access; process for cash over/short discrepancies and refunds; voiding and reissuing of old/stale dated checks are completed in accordance with the City’s Accounts Receivable Write-Off and Unclaimed Property Policy for escheatment and unclaimed property; and training provided to Staff for cash handling. Staff explained the language under section No. 21 on page 5 cannot be rephrased because it stems directly from federal guidelines which the Policy must adopt so that the City is in compliance. Staff also explained that should the City have $750,000 or more of federal funding spent, the City’s single audit team, Eide Bailly, formerly known as Vavrinek, Trine, Day & Company, requires a formal Policy that references these uniform federal guidelines. Finance Director Romero said CalTrans, the California Department of Transportation state agency, also references these guidelines because state funding follows federal funding since the state does not have their own guidelines, and Staff will review the Policy annually to ensure the referenced guidelines stay current. The Commission recommended reviewing the Policy for further improvements in the Spring of 2020; Staff concurred and said the Policy will be scheduled for Commission review and discussion at a future meeting. Motion – A motion was made and seconded by Commissioners Hoffner/Batavick to recommend that Council adopt a Cash Management Policy; and table if for review in the Spring of 2020. Motion passed: ayes 6, noes 0, absent 1 (Lopez). 2. REVIEW BROKER/DEALER SELECTION AND APPROVE EDITS TO INVESTMENT POLICY ADDING NEW BROKERS TO APPROVED FINANCIAL INSTITUTIONS LIST Financial Services Analyst Hallick presented the staff report, which is on file in the Finance Department. The Commission inquired on how many investment reports would be generated; Staff explained the treasury investment report would remain unchanged, and a new safe keeping and custody account will be established for all three brokers, which will generate one additional statement. FINANCIAL ADVISORY COMMISSION MINUTES 4 OCTOBER 9, 2019 SPECIAL MEETING General Commission and Staff discussion followed regarding the transactions and services the selected brokers will provide; their qualifications and experience; and the principal benefits of selecting to add Higgins Capital Management and Great Pacific Securities to the approved list for broker/dealer services including: competitive price comparisons, additional educational resources for staff, and their involvement with professional financial government entities. Commissioner Hoffner commended Financial Services Analyst Hallick for her efforts and high level of service she delivered in organizing the submitted information to facilitate the review process for the subcommittee. Motion – A motion was made and seconded by Commissioners Hunter/Rosen to recommend Council approve edits to the Investment Policy adding Higgins Capital Management and Great Pacific Securities to the approved list for broker/dealer services. Motion passed: ayes 6, noes 0, absent 1 (Lopez). 3. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO FORMULATE AND PREPARE THE ANNUAL MEASURE G SALES TAX OVERSIGHT COMPLIANCE REPORT Finance Director Romero presented the staff report which, is on file in the Finance Department. Commissioners Batavick and Hunter expressed their willingness to serve on the subcommittee to verify revenue and expenses associated with Measure G funds, prepare a report, and present their findings to City Council on November 19, 2019. Motion – A motion was made and seconded by Commissioners Hoffner/Rosen to appoint Commissioners Batavick and Hunter to serve on the subcommittee to formulate and prepare the annual Measure G sales tax oversight compliance report. Motion passed: ayes 6, noes 0, absent 1 (Lopez). 4. APPOINT UP TO THREE FINANCIAL ADVISORY COMMISSIONERS TO REVIEW THE 2019 UPDATE TO THE DEVELOPMENT IMPACT FEE (DIF) STUDY Finance Director Romero presented the staff report which, is on file in the Finance Department. The Commission and Staff discussed what is outlined in the DIF report; the scope and purview of the subcommittee; review timeline; frequency of DIF updates which are completed every five years per state law requirements; and the process for amending DIF fees. Commissioners Hoffner, Mills, and Twohey expressed their willingness to serve on the subcommittee to review the 2019 DIF study update. Motion – A motion was made and seconded by Commissioners Hunter/Batavick to appoint Commissioners Hoffner, Mills, and Twohey to serve on the subcommittee to review the 2019 update to the development impact fee study. Motion passed: ayes 6, noes 0, absent 1 (Lopez). FINANCIAL ADVISORY COMMISSION MINUTES 5 OCTOBER 9, 2019 SPECIAL MEETING STUDY SESSION 1. REVIEW AND DISCUSS PRELIMINARY 10-YEAR FINANCIAL PROJECTION FOR THE GENERAL FUND Finance Director Romero and Financial Services Analyst Hallick presented the staff report, which is on file in the Finance Department. General Commission and Staff discussion followed regarding the City’s General Fund fiscal stability and financial projections; revenue sources; potential impacts should the United States’ economy experience a recession; restricted funds types; and funding sources used for bridges. The Commission suggested showing what the potential reaction of revenue could be on the expense side of projection ledger if a minor recession was to occur; inquired about the projected 7% increase of public safety services (police), and the City’s ability to mitigate cost increases based on its contractual powers and obligations. Staff said the City annually conducts a police services study, with Matrix Consulting Group, to evaluate service needs, find efficiencies while maintaining the safety of the community, and is collaborating with neighboring cities to create a more favorable platform for negotiations with the Riverside County Sheriff’s Department. Further discussion followed on whether increases in police compensation correlate with increased hours in patrol, staff explained increases are due to raising pension cost; Measure G projections when it was first presented to the former Financial Committee; and projected capital expenses from Measure G and Commission recommendations on how to present these expenses to the public. PUBLIC SPEAKER: Steve Cherry, La Quinta – asked about the percentage decrease between the General Fund financial projections on current economic conditions versus if a minor recession was to occur; time frame for the revenue decrease; and how police services growth projections were reduced from 10% in fiscal year 2018/19 to 7% in fiscal year 2019/20. The Commission and Staff discussed the City’s reserves; the City’s outstanding fiscal stability compared to other cities; and potential expenditure variables and adjustments that would be considered if a recession occurred. Staff explained the City would never adopt a budget with a deficit; the police services decrease of cost projections stem from expenditure reductions imposed by the new sheriff, which in turn directly affects the City’s contractual obligations. The Commission inquired how Council reviews the possible scenarios for a recession and suggested ideas on how to show adjustments for transparency to avoid public concerns. Staff said that Council reviews the Commission’s agenda packets, meets one-on-one with Staff to review the budget and discuss the City’s needs and fiscal stability in order to determine what is feasible and in the best interest of the community prior to adopting the budget. Staff noted the 10-year budget projections would be brought back to the Commission for additional input at a special meeting in early December prior to taking the projections to the public community workshop scheduled for January 11, 2020. FINANCIAL ADVISORY COMMISSION MINUTES 6 OCTOBER 9, 2019 SPECIAL MEETING 2. DISCUSS PENSION TRUST AND UNFUNDED LIABILITY Finance Director Romero presented the staff report, which is on file in the Finance Department. The Commission and Staff discussed the City’s three pension tiers; current unfunded pension liability; required California Public Employees Retirement System Agency (CalPERS) annual contributions; the City’s pension funding obligations; how investment returns for Public Agency Retirement Services (PARS) funds are compare to CalPERS funds; reserve fund balances for the City and how the overall funded percentage is calculated; how payments to CalPERS are calculated; the City’s reserves policy outlines targets for each reserve category; and the investment strategy selected for the PARS pension trust. DEPARTMENTAL REPORTS 1. FIRST QUARTER 2019 (JANUARY – MARCH) SALES TAX UPDATE FOR THE CITY OF LA QUINTA Financial Services Analyst Hallick presented the staff report, which is on file in the Finance Department. Staff announced that the City would hold a Special Joint City Council/Planning Commission Meeting on Monday, October 28, 2019, at 6:00 p.m., regarding the draft Highway 111 Corridor Plan, and would send out a calendar invite to the Commission. The Commission noted the commentary on the second page of the attachment to the staff report was very helpful and added credibility to the projections. 2. 2019/20 INVESTMENT POLICY CERTIFICATION Financial Services Analyst Hallick presented the staff report, which is on file in the Finance Department. Staff announced that the City’s 2019/20 Investment Policy had been granted the California Municipal Treasurers Association Investment policy certification for adhering to the state of California government code and meeting best practices guidelines in various topic areas. COMMISSIONERS’ ITEMS – None ADJOURNMENT There being no further business, it was moved and seconded by Commissioners Twohey/Hoffner to adjourn this meeting at 6:38 p.m. Motion passed: ayes 6, noes 0, absent 1 (Lopez). Respectfully submitted, Jessica Delgado, Management Assistant City of La Quinta, California City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JULY 31, 2019 RECOMMENDATION Receive and file revenue and expenditure report dated July 31, 2019. EXECUTIVE SUMMARY •The report summarizes the City’s year-to-date (YTD) revenues and period expenditures for July 2019 (Attachment 1). •Revenue and expenditure reports are also reviewed by the City Council. FISCAL IMPACT - None BACKGROUND/ANALYSIS Below is a summary of the column headers used on the Revenue and Expenditure Summary Reports: Original Total Budget – represents revenue and expenditure budgets the Council adopted in June 2019 for fiscal year 2019/20. Current Total Budget – represents original adopted budgets plus any Council approved budget amendments from throughout the year. The 2018/19 operating and Capital Improvement Project carryovers to 2019/20 will be processed after the year-end audit is completed. Period Activity – represents actual revenues received and expenditures outlaid in the reporting month. Fiscal Activity – represents actual revenues received and expenditures outlaid YTD. Variance Favorable/(Unfavorable) - represents the dollar difference between YTD collections/expenditures and the current budgeted amount. Percent Used – represents the percentage activity as compared to budget YTD. CONSENT CALENDAR ITEM NO. 2 The revenue report includes revenues and transfers into funds from other funds (income items). Revenues are not received uniformly throughout the year, resulting in peaks and valleys. For example, large property tax payments are usually received in December and May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in January and June. Any timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserve. The expenditure report includes expenditures and transfers out to other funds. Unlike revenues, expenditures are more likely to be consistent from month to month. However, large debt service payments or CIP expenditures can cause swings. Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director Attachment 1: Revenue and Expenditure Report for July 31, 2019 MTD YTD Total Annual Budget YTD Percent of Budget General Fund (GF)253,777$ 253,777$ 57,847,200$ 0.44% All Funds 384,183$ 384,183$ 119,112,569$ 0.32% MTD YTD Total Annual Budget YTD Percent of Budget General Fund 1,243,031$ 1,243,031$ 55,661,400$ 2.23% Payroll (GF)1,300,271$ 1,300,271$ 11,087,300$ 11.73% All Funds 2,823,963$ 2,823,963$ 104,330,918$ 2.71% July Expenditures July Revenues General Fund Non-General Fund Building Plan Check Fees 55,434$ Allocated Interest 160,898$ Business Licenses 33,381$ SilverRock Greens Fees 91,627$ Misc. Permits 17,598$ Gas Tax 68,291$ Building Permits 14,846$ Development Impact Fees (Transportation)39,788$ Wellness Center Memberships 14,060$ Development Impact Fees (Parks)28,672$ General Fund Non-General Fund Membership Dues(1)74,987$ Property Insurance Premium 479,797$ Marketing and Tourism Promotions 68,135$ Liability Insurance Premium 211,083$ Greater Palm Springs Convention Bureau 63,375$ SilverRock Maintenance 195,869$ Parks Landscape Maintenance 41,890$ Software Licenses 148,266$ Boys and Girls Club 10,000$ Landscape Maintenance (2)69,119$ (2)Landscape maintenance for Lighting and Landscape (L&L) District Top Five Revenue/Income Sources for July Top Five Expenditures/Outlays for July (1)Coachella Valley Association of Governments (CVAG), Southern California Association of Governments, and Riverside Local Agency Formation Commission (LAFCO) For Fiscal: 2019/20 Period Ending: 07/31/2019 10/7/2019 Page 1 of 2 Revenue Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 253,777253,77757,847,200 57,847,200 -57,593,423 0.44 % 201 - GAS TAX FUND 68,29168,2912,360,900 2,360,900 -2,292,609 2.89 % 202 - LIBRARY & MUSEUM FUND 1751752,752,000 2,752,000 -2,751,825 0.01 % 203 - PUBLIC SAFETY FUND (MEASURE G)003,200 3,200 -3,200 0.00 % 210 - FEDERAL ASSISTANCE FUND 00123,200 123,200 -123,200 0.00 % 212 - SLESA (COPS) FUND 00100,500 100,500 -100,500 0.00 % 215 - LIGHTING & LANDSCAPING FUND 002,274,200 2,274,200 -2,274,200 0.00 % 220 - QUIMBY FUND 00140,000 140,000 -140,000 0.00 % 221 - AB 939 - CALRECYCLE FUND 0070,000 70,000 -70,000 0.00 % 223 - MEASURE A FUND 001,311,300 1,311,300 -1,311,300 0.00 % 225 - INFRASTRUCTURE FUND 00300300 -300 0.00 % 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)0012,000 12,000 -12,000 0.00 % 230 - CASp FUND, AB 1379 1,4911,49121,200 21,200 -19,709 7.03 % 231 - SUCCESSOR AGCY PA 1 RORF 2220,539,264 20,539,264 -20,539,262 0.00 % 235 - SO COAST AIR QUALITY FUND 0053,500 53,500 -53,500 0.00 % 237 - SUCCESSOR AGCY PA 1 ADMIN 001,500 13,505 -13,505 0.00 % 241 - HOUSING AUTHORITY 24,06124,061448,000 448,000 -423,939 5.37 % 243 - RDA LOW-MOD HOUSING FUND 0022,000 22,000 -22,000 0.00 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)00270,000 270,000 -270,000 0.00 % 250 - TRANSPORTATION DIF FUND 39,78839,788395,000 395,000 -355,212 10.07 % 251 - PARKS & REC DIF FUND 28,67228,672306,000 306,000 -277,328 9.37 % 252 - CIVIC CENTER DIF FUND 13,18813,188110,000 110,000 -96,812 11.99 % 253 - LIBRARY DEVELOPMENT DIF 4,8164,81645,000 45,000 -40,184 10.70 % 254 - COMMUNITY CENTER DIF 1,8061,80622,000 22,000 -20,194 8.21 % 255 - STREET FACILITY DIF FUND 1,5081,50823,000 23,000 -21,492 6.56 % 256 - PARK FACILITY DIF FUND 5605607,000 7,000 -6,440 8.00 % 257 - FIRE PROTECTION DIF 6,0626,06255,000 55,000 -48,938 11.02 % 270 - ART IN PUBLIC PLACES FUND 26,71026,710160,500 160,500 -133,790 16.64 % 275 - LQ PUBLIC SAFETY OFFICER 002,600 2,600 -2,600 0.00 % 299 - INTEREST ALLOCATION FUND 160,898160,89800 160,898 0.00 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,000 1,000 -1,000 0.00 % 401 - CAPITAL IMPROVEMENT PROGRAMS -356,348-356,34821,222,000 21,222,000 -21,578,348 1.68 % 405 - SA PA 1 CAPITAL IMPRV FUND 00100,000 100,000 -100,000 0.00 % 501 - FACILITY & FLEET REPLACEMENT 00900,200 900,200 -900,200 0.00 % 502 - INFORMATION TECHNOLOGY 1,6441,6441,394,400 1,394,400 -1,392,756 0.12 % 503 - PARK EQUIP & FACILITY FUND 00719,000 719,000 -719,000 0.00 % 504 - INSURANCE FUND 00929,500 929,500 -929,500 0.00 % 601 - SILVERROCK RESORT 107,081107,0814,105,600 4,105,600 -3,998,519 2.61 % 602 - SILVERROCK GOLF RESERVE 005,500 5,500 -5,500 0.00 % 760 - SUPPLEMENTAL PENSION PLAN 007,000 7,000 -7,000 0.00 % 761 - CERBT OPEB TRUST 0040,000 40,000 -40,000 0.00 % 762 - PARS PENSION TRUST 00200,000 200,000 -200,000 0.00 % Report Total:384,183 384,183119,100,564 119,112,569 -118,728,386 0.32 % ATTACHMENT 1 Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all final audited numbers. For Fiscal: 2019/20 Period Ending: 07/31/2019 10/7/2019 Page 2 of 2 Expenditure Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 1,243,0311,243,03155,638,500 55,661,400 54,418,369 2.23 % 201 - GAS TAX FUND 42,25842,2582,360,900 2,360,900 2,318,642 1.79 % 202 - LIBRARY & MUSEUM FUND 9,9299,9292,419,100 2,419,100 2,409,171 0.41 % 210 - FEDERAL ASSISTANCE FUND 00123,200 123,200 123,200 0.00 % 212 - SLESA (COPS) FUND 00100,000 100,000 100,000 0.00 % 215 - LIGHTING & LANDSCAPING FUND 81,39481,3942,274,200 2,274,200 2,192,806 3.58 % 220 - QUIMBY FUND 00263,000 263,000 263,000 0.00 % 221 - AB 939 - CALRECYCLE FUND 0050,000 50,000 50,000 0.00 % 223 - MEASURE A FUND 001,298,300 1,298,300 1,298,300 0.00 % 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)0012,000 12,000 12,000 0.00 % 230 - CASp FUND, AB 1379 004,600 4,600 4,600 0.00 % 231 - SUCCESSOR AGCY PA 1 RORF 008,394,963 8,405,468 8,405,468 0.00 % 235 - SO COAST AIR QUALITY FUND 0091,500 91,500 91,500 0.00 % 237 - SUCCESSOR AGCY PA 1 ADMIN 0012,005 13,505 13,505 0.00 % 241 - HOUSING AUTHORITY 32,74032,740609,300 610,895 578,155 5.36 % 243 - RDA LOW-MOD HOUSING FUND 00250,000 250,000 250,000 0.00 % 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)72172100 -721 0.00 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)0020,000 20,000 20,000 0.00 % 250 - TRANSPORTATION DIF FUND 00483,700 483,700 483,700 0.00 % 252 - CIVIC CENTER DIF FUND 00130,000 130,000 130,000 0.00 % 253 - LIBRARY DEVELOPMENT DIF 0032,000 32,000 32,000 0.00 % 255 - STREET FACILITY DIF FUND 0030,000 30,000 30,000 0.00 % 256 - PARK FACILITY DIF FUND 006,000 6,000 6,000 0.00 % 257 - FIRE PROTECTION DIF 007,500 7,500 7,500 0.00 % 270 - ART IN PUBLIC PLACES FUND 00160,000 160,000 160,000 0.00 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,000 1,000 1,000 0.00 % 401 - CAPITAL IMPROVEMENT PROGRAMS 1,9911,99121,222,000 21,222,000 21,220,009 0.01 % 501 - FACILITY & FLEET REPLACEMENT 19,81619,816898,200 1,064,200 1,044,384 1.86 % 502 - INFORMATION TECHNOLOGY 210,151210,1511,390,400 1,390,400 1,180,249 15.11 % 503 - PARK EQUIP & FACILITY FUND 11700,000 777,000 776,999 0.00 % 504 - INSURANCE FUND 753,061753,061870,500 870,500 117,439 86.51 % 601 - SILVERROCK RESORT 416,037416,0374,185,700 4,185,700 3,769,663 9.94 % 760 - SUPPLEMENTAL PENSION PLAN 12,83312,83312,850 12,850 17 99.87 % Report Total:2,823,963 2,823,963104,051,418 104,330,918 101,506,955 2.71 % Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all final audited numbers. City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED AUGUST 31, 2019 RECOMMENDATION Receive and file revenue and expenditure report dated August 31, 2019. EXECUTIVE SUMMARY •The report summarizes the City’s year-to-date (YTD) revenues and period expenditures for August 2019 (Attachment 1). •These reports are also reviewed by the City Council. FISCAL IMPACT – None BACKGROUND/ANALYSIS Below is a summary of the column headers used on the Revenue and Expenditure Summary Reports: Original Total Budget – represents revenue and expenditure budgets the Council adopted in June 2019 for fiscal year 2019/20. Current Total Budget – represents original adopted budgets plus any Council approved budget amendments from throughout the year. The 2018/19 operating and Capital Improvement Project carryovers to 2019/20 will be processed after the year-end audit is completed. Period Activity – represents actual revenues received and expenditures outlaid in the reporting month. Fiscal Activity – represents actual revenues received and expenditures outlaid YTD. Variance Favorable/(Unfavorable) - represents the dollar difference between YTD collections/expenditures and the current budgeted amount. Percent Used – represents the percentage activity as compared to budget YTD. CONSENT CALENDAR ITEM NO. 3 The revenue report includes revenues and transfers into funds from other funds (income items). Revenues are not received uniformly throughout the year, resulting in peaks and valleys. For example, large property tax payments are usually received in December and May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in January and June. Any timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserve. The expenditure report includes expenditures and transfers out to other funds. Unlike revenues, expenditures are more likely to be consistent from month to month. However, large debt service payments or CIP expenditures can cause swings. Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director Attachment 1: Revenue and Expenditure Report for August 31, 2019 MTD YTD Total Annual Budget YTD Percent of Budget General Fund (GF)651,509$ 683,393$ 57,847,200$ 1.18% All Funds 1,110,074$ 1,463,676$ 119,112,569$ 1.23% MTD YTD Total Annual Budget YTD Percent of Budget General Fund 1,274,162$ 2,517,193$ 55,661,400$ 4.52% Payroll (GF)731,531$ 2,031,802$ 11,087,300$ 18.33% All Funds 3,134,489$ 5,829,668$ 104,330,918$ 5.59% August Revenues August Expenditures General Fund Non-General Fund Transient Occupancy (Hotel) Tax 372,902$ Allocated Interest 137,432$ Building Plan Check Fees 37,168$ Gas Tax 78,085$ Franchise Taxes 35,822$ SilverRock Greens Fees 63,459$ Business Licenses 31,591$ Housing Authority - Sale Proceeds (vacant lot)58,789$ Miscellaneous Permits 18,357$ Transportation Developer Impact Fees 25,578$ General Fund Non-General Fund Marketing and Tourism Promotions 81,226$ Capital Improvement Program - Construction(1)474,591$ Sheriff Contract 52,179$ Developer Reimbursements 400,000$ Buildings 42,000$ Land Acquisition (2) 154,724$ Parks Landscape Maintenance 41,890$ Software Licenses 120,995$ Planning- Hwy 111 Corridor 30,375$ SilverRock Maintenance 82,767$ Top Five Revenue/Income Sources for August Top Five Expenditures/Outlays for August (1) CIP Construction: Expenses associated with Village Complete Streets, Avenue 52 pavement rehab and striping, Dune Palms road widening/bridge work, and North La Quinta Landscape Conversion. (2) Land acquisition costs associated with Dune Palms projects. For Fiscal: 2019/20 Period Ending: 08/31/2019 10/28/2019 Page 1 of 2 Revenue Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 683,393651,50957,847,200 57,847,200 -57,163,807 1.18 % 201 - GAS TAX FUND 144,78078,0852,360,900 2,360,900 -2,216,120 6.13 % 202 - LIBRARY & MUSEUM FUND -16,2631982,752,000 2,752,000 -2,768,263 0.59 % 203 - PUBLIC SAFETY FUND (MEASURE G)-3,24403,200 3,200 -6,444 101.37 % 210 - FEDERAL ASSISTANCE FUND 00123,200 123,200 -123,200 0.00 % 212 - SLESA (COPS) FUND -4300100,500 100,500 -100,930 0.43 % 215 - LIGHTING & LANDSCAPING FUND -1,58302,274,200 2,274,200 -2,275,783 0.07 % 220 - QUIMBY FUND -9,5170140,000 140,000 -149,517 6.80 % 221 - AB 939 - CALRECYCLE FUND 5352,82270,000 70,000 -69,465 0.76 % 223 - MEASURE A FUND -3,80801,311,300 1,311,300 -1,315,108 0.29 % 224 - TUMF FUND -1,249000 -1,249 0.00 % 225 - INFRASTRUCTURE FUND -610300300 -361 20.27 % 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)-19012,000 12,000 -12,019 0.16 % 230 - CASp FUND, AB 1379 3,0351,59821,200 21,200 -18,165 14.32 % 231 - SUCCESSOR AGCY PA 1 RORF 5220,539,264 20,539,264 -20,539,259 0.00 % 235 - SO COAST AIR QUALITY FUND -278053,500 53,500 -53,778 0.52 % 237 - SUCCESSOR AGCY PA 1 ADMIN -50401,500 13,505 -14,009 3.74 % 241 - HOUSING AUTHORITY 78,34884,069448,000 448,000 -369,652 17.49 % 243 - RDA LOW-MOD HOUSING FUND -5,807022,000 22,000 -27,807 26.39 % 247 - ECONOMIC DEVELOPMENT FUND -8,346000 -8,346 0.00 % 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)7241,82000 724 0.00 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)-1,1220270,000 270,000 -271,122 0.42 % 250 - TRANSPORTATION DIF FUND 58,52625,578395,000 395,000 -336,474 14.82 % 251 - PARKS & REC DIF FUND 43,59518,432306,000 306,000 -262,405 14.25 % 252 - CIVIC CENTER DIF FUND 21,2948,332110,000 110,000 -88,706 19.36 % 253 - LIBRARY DEVELOPMENT DIF 7,9123,09645,000 45,000 -37,088 17.58 % 254 - COMMUNITY CENTER DIF 2,5211,16122,000 22,000 -19,479 11.46 % 255 - STREET FACILITY DIF FUND 2,40292823,000 23,000 -20,598 10.45 % 256 - PARK FACILITY DIF FUND 9203607,000 7,000 -6,080 13.14 % 257 - FIRE PROTECTION DIF 9,7903,83055,000 55,000 -45,210 17.80 % 270 - ART IN PUBLIC PLACES FUND 30,3885,198160,500 160,500 -130,112 18.93 % 275 - LQ PUBLIC SAFETY OFFICER -12102,600 2,600 -2,721 4.67 % 299 - INTEREST ALLOCATION FUND 630,837137,43200 630,837 0.00 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,000 1,000 -1,000 0.00 % 401 - CAPITAL IMPROVEMENT PROGRAMS -356,348021,222,000 21,222,000 -21,578,348 1.68 % 405 - SA PA 1 CAPITAL IMPRV FUND -17,4240100,000 100,000 -117,424 17.42 % 501 - FACILITY & FLEET REPLACEMENT -8,9170900,200 900,200 -909,117 0.99 % 502 - INFORMATION TECHNOLOGY 371,6751,394,400 1,394,400 -1,394,363 0.00 % 503 - PARK EQUIP & FACILITY FUND -9,7640719,000 719,000 -728,764 1.36 % 504 - INSURANCE FUND -40929,500 929,500 -929,504 0.00 % 601 - SILVERROCK RESORT 179,99072,9094,105,600 4,105,600 -3,925,610 4.38 % 602 - SILVERROCK GOLF RESERVE -1,20705,500 5,500 -6,707 21.94 % 735 - 97-1 AGENCY REDEMPTION FUND -82000 -82 0.00 % 760 - SUPPLEMENTAL PENSION PLAN -29707,000 7,000 -7,297 4.24 % 761 - CERBT OPEB TRUST 0040,000 40,000 -40,000 0.00 % 762 - PARS PENSION TRUST 11,03811,038200,000 200,000 -188,962 5.52 % Report Total:1,110,074 1,463,676119,100,564 119,112,569 -117,648,893 1.23 % Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all final audited numbers. ATTACHMENT 1 For Fiscal: 2019/20 Period Ending: 08/31/2019 10/25/2019 Page 2 of 2 Expenditure Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 2,517,1931,274,16255,638,500 55,661,400 53,144,207 4.52 % 201 - GAS TAX FUND 115,59273,3332,360,900 2,360,900 2,245,308 4.90 % 202 - LIBRARY & MUSEUM FUND 26,57116,6432,419,100 2,419,100 2,392,529 1.10 % 210 - FEDERAL ASSISTANCE FUND 00123,200 123,200 123,200 0.00 % 212 - SLESA (COPS) FUND 1,3931,393100,000 100,000 98,607 1.39 % 215 - LIGHTING & LANDSCAPING FUND 238,862157,4682,274,200 2,274,200 2,035,338 10.50 % 220 - QUIMBY FUND 00263,000 263,000 263,000 0.00 % 221 - AB 939 - CALRECYCLE FUND 2,2002,20050,000 50,000 47,800 4.40 % 223 - MEASURE A FUND 001,298,300 1,298,300 1,298,300 0.00 % 225 - INFRASTRUCTURE FUND 66866800 -668 0.00 % 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)0012,000 12,000 12,000 0.00 % 230 - CASp FUND, AB 1379 004,600 4,600 4,600 0.00 % 231 - SUCCESSOR AGCY PA 1 RORF 008,394,963 8,405,468 8,405,468 0.00 % 235 - SO COAST AIR QUALITY FUND 24624691,500 91,500 91,254 0.27 % 237 - SUCCESSOR AGCY PA 1 ADMIN 1,6501,65012,005 13,505 11,855 12.22 % 241 - HOUSING AUTHORITY 74,35641,616609,300 610,895 536,539 12.17 % 243 - RDA LOW-MOD HOUSING FUND 00250,000 250,000 250,000 0.00 % 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)1,27155000 -1,271 0.00 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)0020,000 20,000 20,000 0.00 % 250 - TRANSPORTATION DIF FUND 400,668400,668483,700 483,700 83,032 82.83 % 251 - PARKS & REC DIF FUND 66866800 -668 0.00 % 252 - CIVIC CENTER DIF FUND 668668130,000 130,000 129,332 0.51 % 253 - LIBRARY DEVELOPMENT DIF 66866832,000 32,000 31,332 2.09 % 254 - COMMUNITY CENTER DIF 66866800 -668 0.00 % 255 - STREET FACILITY DIF FUND 66866830,000 30,000 29,332 2.23 % 256 - PARK FACILITY DIF FUND 6686686,000 6,000 5,332 11.13 % 257 - FIRE PROTECTION DIF 6686687,500 7,500 6,832 8.90 % 270 - ART IN PUBLIC PLACES FUND 100100160,000 160,000 159,900 0.06 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,000 1,000 1,000 0.00 % 401 - CAPITAL IMPROVEMENT PROGRAMS 718,977716,98621,222,000 21,222,000 20,503,023 3.39 % 501 - FACILITY & FLEET REPLACEMENT 30,18310,367898,200 1,064,200 1,034,017 2.84 % 502 - INFORMATION TECHNOLOGY 444,583234,4331,390,400 1,390,400 945,817 31.98 % 503 - PARK EQUIP & FACILITY FUND 29,00129,000700,000 777,000 747,999 3.73 % 504 - INSURANCE FUND 757,2844,223870,500 870,500 113,216 86.99 % 601 - SILVERROCK RESORT 451,361164,1094,185,700 4,185,700 3,734,339 10.78 % 760 - SUPPLEMENTAL PENSION PLAN 12,833012,850 12,850 17 99.87 % Report Total:3,134,489 5,829,668104,051,418 104,330,918 98,501,250 5.59 % Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all final audited numbers. Fund #Fund Name Fund Notes 101 General Fund The primary fund of the City used to account for all general revenue and expenditures of the City; a broad range of municipal services are provided through this fund. 201 Gas Tax Fund Gasoline sales tax allocations received from the State which are restricted to street-related expenditures. 202 Library and Museum Fund Revenues from property taxes and related expenditures for library and museum services. 203 Public Safety Fund General Fund Measure G sales tax revenue set aside for public safety expenditures. 210 Federal Assistance Fund Community Development Block Grant (CDBG) received from the federal government and the expenditures of those resources. 212 SLESF (COPS) Fund Supplemental Law Enforcement Services Fund (SLESF)- received from the State for law enforcement activities. Also known as Citizen's Option for Public Safety (COPS). 215 Lighting & Landscaping Fund Special assessments levied on real property for city-wide lighting and landscape maintenance/improvements and the expenditures of those resources. 217 Development Agreement Fund Revenue and Expenditures related to development agreements for Village. 220 Quimby Fund Developer fees received under the provisions of the Quimby Act for park development and improvements. 221 AB939 Fund/Cal Recycle Franchise fees collected from the city waste hauler that are used to reduce waste sent to landfills through recycling efforts. Assembly Bill (AB) 939. 223 Measure A Fund County sales tax allocations which are restricted to street-related expenditures. 224 TUMF Fund Developer-paid Transportation Uniform Mitigation Fees (TUMF) utilized for traffic projects in Riverside County. 225 Infrastructure Fund Developer fees for the acquisition, construction or improvement of the City’s infrastructure as defined by Resolution. 226 Emergency Mgmt. Performance Grant (EMPG Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 227 State Homeland Security Programs (SHSP)Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 230 CASP Fund, AB1379 / SB1186 Certified Access Specialist (CASp) program fees for ADA Accessibility Improvements; derived from Business License renewals. Assembly Bill (AB) 1379 and Senate Bill (SB) 1186. 231 Successor Agency PA 1 RORF Fund Successor Agency (SA) Project Area (PA) 1 Redevelopment Obligation Retirement Fund (RORF) for Redevelopment Property Tax Trust Fund (RPTTF) taxes received for debt service payments on recognized obligations of the former Redevelopment Agency (RDA). 235 SO Coast Air Quality Fund (AB2766, PM10)Contributions from the South Coast Air Quality Management District. Uses are limited to the reduction and control of airborne pollutants. Assembly Bill (AB) 2766. 237 Successor Agency PA 1 Admin Fund Successor Agency (SA) Project Area (PA) 1 for administration of the Recognized Obligation Payment Schedule (ROPS) associated with the former Redevelopment Agency (RDA). 241 Housing Authority Activities of the Housing Authority which is to promote and provide quality affordable housing. 243 RDA Low-Moderate Housing Fund Activities of the Housing Authority which is to promote and provide quality affordable housing. Accounts for RDA loan repayments (20% for Housing) and housing programs,. 247 Economic Development Fund For proceeds from sale of City-owned land; transferred from General Fund for future economic development. 248 SA 2004 LO/MOD Bond Fund Successor Agency (SA) low/moderate housing fund. 2004 bonds refinanced in 2014; for Washington Street Apartment rehabilitation only. 249 SA 2011 Low/Mod Bond Fund Successor Agency (SA) low/moderate housing fund. 2011 bonds refinanced in 2016. 250 Transportation DIF Fund Developer impact fees collected for specific public improvements -transportation related. 251 Parks & Rec. DIF Fund Developer impact fees collected for specific public improvements-parks and recreation. 252 Civic Center DIF Fund Developer impact fees collected for specific public improvements -Civic Center. 253 Library Development DIF Fund Developer impact fees collected for specific public improvements -library. 254 Community Center DIF Fund Developer impact fees collected for specific public improvements -community center. 255 Street Facility DIF Fund Developer impact fees collected for specific public improvements -streets. 256 Park Facility DIF Fund Developer impact fees collected for specific public improvements -parks. 257 Fire Protection DIF Fund Developer impact fees collected for specific public improvements -fire protection. 270 Art In Public Places Fund Developer fees collected in lieu of art placement; utilized for acquisition, installation and maintenance of public artworks. 275 LQ Public Safety Officer Fund Annual transfer in from General Fund; distributed to public safety officers disabled or killed in the line of duty. 299 Interest Allocation Fund To account for interest earned on investments. 310 LQ Finance Authority Debt Service Fund Accounted for the debt service the Financing Authority’s outstanding debt and any related reporting requirements. This bond was fully paid in October 2018. 401 Capital Improvement Program Fund Planning, design, and construction of various capital projects throughout the City. 405 SA PA 1 Capital Improvement Fund Successor Agency (SA) Project Area (PA) 1 bond proceeds restricted by the bond indenture covenants. Used for SilverRock infrastructure improvements. 501 Equipment Replacement Fund Internal Service Fund for vehicles, heavy equipment, and related facilities. 502 Information Technology Fund Internal Service Fund for computer hardware and software and phone systems. 503 Park Equipment & Facility Fund Internal Service Fund for park equipment and facilities. 504 Insurance Fund Internal Service Fund for city-wide insurance coverages. 601 SilverRock Resort Fund Enterprise Fund for activities of the city-owned golf course. 602 SilverRock Golf Reserve Fund Enterprise Fund for golf course reserves for capital improvements. 735 97-1 Agency Redemption Fund To account for sewer improvement assessments. 760 Supplemental Pension Plan (PARS Account)Supplemental pension savings plan for excess retiree benefits to general employees of the City. 761 Other Post Benefit Obligation Trust (OPEB)For retiree medical benefits and unfunded liabilities. 762 Pension Trust Benefit (PARS Account)For pension-related benefits and unfunded liabilities. City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE FIRST QUARTER 2019/20 TREASURY REPORTS FOR JULY, AUGUST, AND SEPTEMBER 2019 RECOMMENDATION Receive and file the first quarter fiscal year 2019/20 Treasury Reports for July, August and September 2019. BACKGROUND/ANALYSIS Commentary and Summary of Significant Activity The total book value of the portfolio decreased $15.2 million, from $163.40 million at the end of June to $148.2 million at the end of September. A decrease of $13 million was due to Successor Agency debt service obligations that were paid in August. The remainder of the decrease reflects expenditure and investment activities during the quarter. The portfolio is within policy limits for investment types and total allocation by type (see chart below), and is also within policy guidelines for investment ratings. Investment Type July August September Max Allowed Bank Accounts 3.54% 2.90% 2.50% 85% Local Agency Investment Fund (LAIF) City 33.44% 20.44% 22.83% (1) Local Agency Investment Fund (LAIF) Housing 10.23% 10.25% 11.11% (1)(2) Money Market Pool Accounts-CAMP 12.78% 12.83% 13.93% 20% Federal Agency Coupons 12.63% 12.19% 13.28% 30% Treasury Coupons 9.24% 9.57% 10.37% 100% Certificates of Deposit (CD's)14.74% 16.16% 17.85% 30% Corporate Notes 2.38% 2.39% 2.59% 10% Money Market with Fiscal Agent 0.00% 8.17% 0.00% (2) CERBT- OPEB Trust 1.01% 1.01% 1.12% (3) PARS Pension Trust (new)N/A 4.08% 4.42% (3) Total 100% 100% 100% (3) OPEB and pension trusts are fiduciary accounts and not subject to City Investment Policy (1) LAIF is subject to maximum dollar amount not a percentage of the portfolio (2) Funds held by fiscal agent and the LAIF Housing funds are governed by bond indentures and not subject to City Investment Policy Portfolio Allocations CONSENT CALENDAR ITEM NO. 4 The market continued to react to the political climate and economic news, with continued pressure on bond yields. The treasury yield curve inverted between the 2-year and 10-year this quarter, for the first time since 2007. In addition, $6.5 million was withdrawn from reserves to fund the pension trust, thereby lowering the total interest earned in the Local Agency Investment Fund (LAIF). The fiscal year annual effective rate of return is 1.90% as of September, a 14-basis point (bps) decrease since June (Q4). Throughout the quarter, one CD and three agency bonds matured, three agency bonds were called, and 23 new investments were purchased. Details of each transaction are listed in the attached reports. Other Notes Money market funds with the fiscal agent are bond proceeds subject to bond indentures, not the City’s investment policy. Successor Agency (SA) funds cannot be invested long-term; therefore SA funds are only invested in LAIF. Looking Ahead The Treasurer follows a “buy and hold” Investment Policy, unless it is fiscally advantageous to actively trade outside of maturity dates. In the short term, the Treasurer will invest in CAMP and LAIF as needed. Longer term investments may include Government Sponsored Enterprise (agencies) securities, U.S. Treasuries, Corporate Notes, and Negotiable Certificates of Deposits. All investments recognize both immediate and long-term cash flow needs, and there is sufficient liquidity in the portfolio to meet expenditure requirements for the next six months. ALTERNATIVES - None Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Romero, Finance Director/City Treasurer Attachment: 1. Treasurer’s Report for July 1, 2019 to September 30, 2019 Total Earnings Average Days to Maturity Effective Rate of Return YTD July 305,638$ 317 2.21% August 238,537$ 332 2.03% September 214,436$ 361 1.90% Quarter 758,611$ 337 2.05% ATTACHMENT 1 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value July 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1City Petty Cash1059 3,300.00 3,300.0007/01/2016 3,300.00 1SYS1059 0.000 1La Quinta Palms Realty1062 217,962.35 217,962.3507/01/2016 217,962.35 1SYS1062 0.000 1Stifel, Nicolaus & Company1183 -499,654.17 -499,654.1703/18/2019 -499,654.17 1SYS1183 0.000 1Wells Fargo1057 5,980,935.39 5,980,935.3907/01/2016 5,980,935.39 14159282482 0.000 5,702,543.57 15,702,543.575,702,543.574,310,580.29Subtotal and Average 1 0.000 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 53,837,943.78 53,837,943.78 2.37953,936,381.01 198-33-434 2.379 53,837,943.78 153,936,381.0153,837,943.7857,558,746.99Subtotal and Average 1 2.379 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 16,468,417.85 16,468,417.85 2.37916,496,429.33 125-33-005 2.379 16,468,417.85 116,496,429.3316,468,417.8516,421,194.31Subtotal and Average 1 2.379 Money Market Accounts - CAMP 1California Asset Management Pr1153 20,573,497.33 20,573,497.3309/26/2018 20,573,497.33 1SYS1153 0.000 20,573,497.33 120,573,497.3320,573,497.3320,532,737.85Subtotal and Average 1 0.000 Federal Agency Coupon Securities 1Federal National Mtg Assn1140 500,000.00 492,000.00 08/02/20190.87505/31/2018 499,980.00 4283135G0N33 2.269 42Federal National Mtg Assn1139 500,000.00 496,700.00 09/12/20191.75005/31/2018 499,705.00 4693135G0ZG1 2.275 179Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,994,840.00 1,0363135G0S53 1.700 281Federal Farm Credit Bank1142 500,000.00 491,750.00 05/08/20201.55005/31/2018 497,905.00 7083133EHJA2 2.427 407Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 995,310.00 1,0373130A66T9 1.741 452Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,478,800.00 1,4613130A9UQ2 1.375 636Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,473,150.00 1,8263130A7QZ1 1.423 636Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.50004/28/2016 2,497,575.00 1,8263134G8Y37 1.400 762Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 994,280.00 1,3923133EHWM1 1.913 881Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 999,040.00 1,6373134GBXF4 2.012 971Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 2,000,060.00 1,8263134GBAE2 2.106 1,091Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 1,000,340.00 1,8263134GBWG3 2.150 1,153Federal Home Loan Mtg Corp1156 400,000.00 398,800.00 09/27/20223.00010/15/2018 400,488.00 1,4433134GSWS0 3.081 1,188Federal Farm Credit Bank1191 500,000.00 492,100.00 11/01/20221.70005/28/2019 493,755.00 1,2533133EGD28 2.181 1,229Federal Farm Credit Bank1198 500,000.00 499,500.00 12/12/20221.87506/20/2019 499,465.00 1,2713133EKQP4 1.905 1,302Federal Home Loan Mtg Corp1122 750,000.00 746,625.00 02/23/20232.75004/02/2018 750,330.00 1,7883134GSCQ6 2.849 Portfolio CITY CP Run Date: 11/06/2019 - 14:11 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value July 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Federal Agency Coupon Securities 1,496Federal Farm Credit Bank1158 250,000.00 247,275.00 09/05/20232.80010/15/2018 258,560.00 1,7863133EJYL7 3.041 1,657Federal Home Loan Bank1177 500,000.00 498,550.00 02/13/20242.50003/01/2019 513,945.00 1,8103130AFW94 2.563 1,797Federal National Mtg Assn1206 500,000.00 495,950.00 07/02/20241.75007/15/2019 496,210.00 1,8143135G0V75 1.922 20,329,000.00 1,50320,343,738.0020,400,000.0021,392,719.35Subtotal and Average 718 1.853 Treasury Coupon Securities 136U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,492,775.00 1,000912828U73 1.513 243U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,487,500.00 1,107912828J84 1.602 273U.S. Treasury1138 500,000.00 488,250.00 04/30/20201.12505/31/2018 496,330.00 700912828VA5 2.387 380U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 994,340.00 9369128282Q2 2.071 669U.S. Treasury1193 500,000.00 493,610.00 05/31/20211.37505/31/2019 494,920.00 731912828R77 2.030 699U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,926,350.00 1,808912828S27 1.125 822U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,971,800.00 1,679912828T67 1.903 1,018U.S. Treasury1192 500,000.00 496,650.00 05/15/20221.75005/31/2019 498,475.00 1,080912828SV3 1.984 1,156U.S. Treasury1178 500,000.00 489,687.50 09/30/20221.87503/01/2019 500,470.00 1,3099128282W9 2.480 14,870,797.50 1,36814,862,960.0015,000,000.0014,870,797.50Subtotal and Average 534 1.579 Certificate of Deposits 35Riverwood1034248,000.00 248,000.00 09/05/20191.40006/05/2015 247,928.08 1,55376951DAL4 1.402 109Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 244,857.90 73261747MA92 1.800 109Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 244,818.70 73261760AEP0 1.750 112First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 239,750.40 853320165HX4 1.653 173Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 239,630.40 916259744DS6 1.655 264Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 239,342.40 1,096857894TC3 1.588 285Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 244,559.00 915472376AC6 1.751 309EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 247,404.80 1,82729976DXX3 1.702 314Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 244,926.50 1,827140420RX0 1.902 316Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 247,288.24 1,827063615AVO 1.652 319Wex Bank1145 245,000.00 245,000.00 06/15/20202.75006/13/2018 246,626.80 73392937CHG6 2.754 341Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 239,472.00 1,09658740XZL7 1.752 347First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 239,460.00 1,096319141GT8 1.752 445First Tech Federal Credit Unio1124 245,000.00 245,000.00 10/19/20202.70004/18/2018 247,048.20 91533715LBJ8 2.623 480First Bank Richmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 244,316.45 1,251319267GC8 1.802 509Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 245,098.00 1,09635638BAA9 2.052 532Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 239,227.20 1,28006610RAP4 1.804 536Farm Bureau Bank1165 248,000.00 248,000.00 01/18/20213.00012/17/2018 251,489.36 763307660LC2 2.898 Portfolio CITY CP Run Date: 11/06/2019 - 14:11 PM (PRF_PM2) 7.3.0 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value July 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 538Eagle Bank1146 245,000.00 245,000.00 01/20/20212.85007/20/2018 247,925.30 91527002YDV5 2.858 550Infinty FCU1211 248,000.00 248,000.00 02/01/20212.10007/31/2019 248,260.40 55145667EDY1 2.110 571Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 238,771.20 1,82720033APG5 1.702 585Ally Bank Midvale1176 245,000.00 245,000.00 03/08/20212.50003/07/2019 246,783.60 73202007GHX4 2.016 593Unity Bank1120 245,000.00 245,000.00 03/16/20212.55003/16/2018 247,004.10 1,09691330ABN6 2.552 627Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 240,384.00 1,46102587DP85 2.252 638Towne Bank1128 240,000.00 240,000.00 04/30/20212.80004/30/2018 243,084.00 1,09689214PBL2 2.803 664PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 238,048.80 1,82674267GVG9 1.501 676Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 240,837.60 1,46114042RGD7 2.252 713Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 239,011.20 1,46115523RBJ4 1.851 746General Electric Credit Union1150 240,000.00 240,000.00 08/16/20213.10008/15/2018 244,936.80 1,097369674AV8 3.100 817Northpointe Bank1127 240,000.00 240,000.00 10/26/20212.70004/26/2018 243,242.40 1,279666613GV0 2.703 839First Source Bank1168 245,000.00 245,000.00 11/17/20213.15012/17/2018 250,853.05 1,06633646CKP8 3.153 844Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 245,075.95 1,462080515CD9 2.101 844TNB Bank1187 248,000.00 248,000.00 11/22/20212.40005/22/2019 249,753.36 91587266AAA1 2.407 873Neighbors FCU1167 245,000.00 245,000.00 12/21/20213.20012/21/2018 251,318.55 1,09664017AAQ7 3.203 902The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 238,874.40 1,645677721CN0 1.903 914Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 247,403.45 1,46288413QBY3 2.502 915Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 240,890.40 1,8262546722U1 2.251 938BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 240,592.80 1,82605580AGK4 2.201 942Maine Savings FCU1171 248,000.00 248,000.00 02/28/20223.30012/28/2018 255,454.88 1,158560507AK1 3.306 999Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 241,843.20 1,82638148PJK4 2.401 1,002Farmers Insurance Group FCU1126 240,000.00 240,000.00 04/29/20222.80004/30/2018 244,420.80 1,46030960QAG2 2.802 1,020Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 244,916.70 1,64250116CBE8 2.099 1,036Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 241,874.40 1,82687164XQV1 2.401 1,042PCSB Bank1149 245,000.00 245,000.00 06/08/20223.00006/08/2018 250,995.15 1,46169324MAD7 3.002 1,047Allegiance Bank1143 245,000.00 245,000.00 06/13/20223.10006/13/2018 251,681.15 1,46101748DBE5 3.102 1,055Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 241,555.20 1,826795450A70 2.351 1,062America's Credit Union1200 248,000.00 248,000.00 06/28/20222.30006/28/2019 249,040.11 1,09603065AAL7 2.302 1,078HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 240,345.60 1,82640434YLE5 2.301 1,103Traditions Bank1148 245,000.00 245,000.00 08/08/20223.00006/08/2018 251,235.25 1,52289269CBX9 3.002 1,124American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 240,688.80 1,82602587CFU9 2.402 1,124Sterling Bank1201 245,000.00 245,000.00 08/29/20222.15006/28/2019 245,036.75 1,15885916VDC6 2.153 1,169Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 245,539.00 1,82601859BAA3 2.251 1,181Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 240,842.40 1,82606740KLJ4 2.291 1,184Merrick Bank1163 248,000.00 248,000.00 10/28/20223.25010/30/2018 256,241.04 1,45959013J4K2 3.252 Portfolio CITY CP Run Date: 11/06/2019 - 14:11 PM (PRF_PM2) 7.3.0 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value July 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,195Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 245,796.25 1,82662384RAC0 2.301 1,205CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 244,968.15 1,82422766ACB9 2.201 1,215Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 244,517.35 1,82629367QCP1 2.151 1,224Medallion Bank1169 248,000.00 248,000.00 12/07/20223.40012/07/2018 257,463.68 1,46158404DCX7 3.402 1,224Red Rocks Credit Union1166 248,000.00 248,000.00 12/07/20223.35012/07/2018 257,061.92 1,46175701LAB3 3.352 1,246Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 246,335.25 1,826499724AB8 2.401 1,307Verus Bank of Commerce1180 248,000.00 248,000.00 02/28/20232.70002/28/2019 251,588.56 1,46192535LCD4 2.700 1,329Aneca Federal Credit Union1119 245,000.00 245,000.00 03/22/20232.80003/22/2018 249,304.65 1,826034577AH9 2.802 1,349Citibank NA1123 245,000.00 245,000.00 04/11/20232.90004/11/2018 250,100.90 1,82617312QJ26 2.902 1,366Congressional Bank1189 248,000.00 248,000.00 04/28/20232.50004/30/2019 249,587.20 1,45920726ABA5 2.502 1,366EnerBank USA1125 240,000.00 240,000.00 04/28/20232.95004/30/2018 245,409.60 1,82429278TAY6 2.952 1,373First National Bank1179 248,000.00 248,000.00 05/05/20232.80003/05/2019 252,225.92 1,52232117BCX4 2.802 1,383University of Iowa Comm. CU1134 240,000.00 240,000.00 05/15/20233.05005/14/2018 246,230.40 1,82791435LAG2 3.052 1,406Pittsfield Cooperative Bank1194 245,000.00 245,000.00 06/07/20232.50006/07/2019 246,337.70 1,461725404AB3 2.502 1,419Morton Community1173 248,000.00 248,000.00 06/20/20232.75003/20/2019 251,588.56 1,553619165JD6 2.753 1,419RCB Bank1144 245,000.00 245,000.00 06/20/20233.15006/20/2018 252,183.40 1,82674934YAH4 3.152 1,448American National Bank1205 248,000.00 248,000.00 07/19/20232.00007/19/2019 244,421.36 1,46102772JBD1 2.001 1,449First National Bank of America1147 245,000.00 245,000.00 07/20/20233.15007/20/2018 252,124.60 1,82632110YLK9 3.152 1,460Bank of New England1151 249,000.00 249,000.00 07/31/20233.25007/31/2018 257,167.20 1,82606426KAN8 3.252 1,538Marlin Business Bank1155 248,000.00 248,000.00 10/17/20233.30010/17/2018 256,952.80 1,82657116ARV2 3.302 1,538Municipal Trust and Savings1160 245,000.00 245,000.00 10/17/20233.20010/17/2018 252,862.05 1,826625925AR3 3.202 1,538UBS Bank USA1161 245,000.00 245,000.00 10/17/20233.35010/17/2018 254,334.50 1,82690348JEJ5 3.352 1,540Jefferson Financial CU1154 245,000.00 245,000.00 10/19/20233.35010/19/2018 254,297.75 1,826474067AQ8 3.352 1,567Commercial Bank1162 248,000.00 248,000.00 11/15/20233.40011/15/2018 258,086.16 1,82620143PDV9 3.402 1,580Numerica Credit Union1164 248,000.00 248,000.00 11/28/20233.55011/28/2018 259,678.32 1,82667054NAN3 3.552 1,603National Cooperative Bank, N.A1170 245,000.00 245,000.00 12/21/20233.40012/21/2018 255,103.80 1,826635573AL2 3.402 1,611Bar Harbor Bank and Trust1172 248,000.00 248,000.00 12/29/20233.35012/31/2018 257,793.52 1,824066851WJ1 3.352 1,642Lakeside Bank1208 248,000.00 248,000.00 01/29/20242.00007/30/2019 243,669.92 1,64451210SQU4 2.003 1,657Northwest Bank1181 248,000.00 248,000.00 02/13/20242.95002/13/2019 253,731.28 1,82666736ABP3 2.951 1,671Wells Fargo1174 248,000.00 248,000.00 02/27/20243.00002/27/2019 253,153.44 1,826949763XY7 3.001 1,730Main Street Bank1188 248,000.00 248,000.00 04/26/20242.60004/26/2019 250,001.36 1,82756065GAG3 2.603 1,750Century Next Bank1184 248,000.00 248,000.00 05/16/20242.50005/29/2019 248,868.00 1,814156634AK3 2.503 1,750JP Morgan Chase1185 245,000.00 245,000.00 05/16/20243.25005/16/2019 243,971.00 1,82748128HXU7 3.254 1,757Iowa State Bank1186 245,000.00 245,000.00 05/23/20242.40005/23/2019 244,747.65 1,82746256YAZ2 2.403 1,772Plains Commerce Bank1195 245,000.00 245,000.00 06/07/20242.55006/07/2019 246,401.40 1,82772651LCL6 2.553 1,777Evansville Teachers Credit FCU1196 248,000.00 248,000.00 06/12/20242.60006/12/2019 249,993.92 1,827299547AQ2 2.603 Portfolio CITY CP Run Date: 11/06/2019 - 14:11 PM (PRF_PM2) 7.3.0 Days to Maturity Page 5 Par Value Book Value Maturity Date Stated RateMarket Value July 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,784Legacy Bank1197 248,000.00 248,000.00 06/19/20242.40006/19/2019 247,709.84 1,827524661CB9 2.403 1,786Citizens State Bank1199 248,000.00 248,000.00 06/21/20242.40006/21/2019 247,707.36 1,827176688CP2 2.403 1,793Communitywide FCU1202 248,000.00 248,000.00 06/28/20242.25006/28/2019 245,986.24 1,82720416TAQ5 2.253 1,793Revere Bank1203 247,000.00 247,000.00 06/28/20242.30006/28/2019 245,557.52 1,827761402BY1 2.303 1,821Abacus Federal Savings1207 248,000.00 248,000.00 07/26/20241.95007/26/2019 242,417.52 1,82700257TBD7 1.952 1,825First Security Bank1209 248,000.00 248,000.00 07/30/20242.00007/30/2019 242,985.44 1,82733625CCP2 2.002 1,826People's Bank1210 248,000.00 248,000.00 07/31/20242.00007/31/2019 242,980.48 1,827710571DS6 2.002 23,737,000.00 1,52023,961,410.1423,737,000.0022,401,000.00Subtotal and Average 1,070 2.492 Corporate Notes 78Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 499,220.00 71089236TDH5 1.681 189Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 498,995.00 745594918BV5 2.081 616Toyota Motor Credit Corp1204 500,000.00 499,750.00 04/08/20211.90006/24/2019 497,535.00 65489236TCZ6 1.928 734Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 494,035.00 1,514037833CC2 1.900 920Proctor and Gamble1159 500,000.00 487,950.00 02/06/20222.30010/15/2018 502,330.00 1,210742718DY2 3.071 1,232Wal-Mart Stores, Inc1190 500,000.00 496,650.00 12/15/20222.35004/16/2019 502,965.00 1,339931142DU4 2.799 1,280Colgate-Palmolive1175 500,000.00 485,250.00 02/01/20231.95003/04/2019 497,220.00 1,43019416QEA4 2.751 1,468Microsoft Corporation1157 400,000.00 378,360.00 08/08/20232.00010/15/2018 399,012.00 1,758594918BQ6 3.222 3,837,460.00 1,1503,891,312.003,900,000.003,837,460.00Subtotal and Average 792 2.402 Money Market with Fiscal Agent 1US Bank1058 1,676.13 1,676.1307/01/2016 1,676.13 1SYS1058 0.000 1,676.13 11,676.131,676.131,673.84Subtotal and Average 1 0.000 CERBT - OPEB Trust 1CalPERS CERBT Plan1114 1,627,510.76 1,627,510.7607/01/2019 1,627,510.76 1SYS1114 0.000 1,627,510.76 11,627,510.761,627,510.761,627,510.76Subtotal and Average 1 0.000 568162,954,420.89 161,248,589.42 317 1.844161,397,458.27 160,985,846.92Total and Average Portfolio CITY CP Run Date: 11/06/2019 - 14:11 PM (PRF_PM2) 7.3.0 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund July 1, 2019 - July 31, 2019 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 248,000.001002248,000.00 1.650MIDWES 347.54 0.00 347.541.650101248,000.00063615AVO 0.00 245,000.001006245,000.00 1.900CAPONE 395.35 0.00 395.351.900101245,000.00140420RX0 0.00 240,000.001009240,000.00 1.700CCBA 346.52 0.00 346.521.700101240,000.0020033APG5 0.00 248,000.001017248,000.00 1.700EVRBA 358.07 0.00 358.071.700101248,000.0029976DXX3 0.00 240,000.001032240,000.00 1.500PRVTBA 305.75 0.00 305.751.500101240,000.0074267GVG9 0.00 248,000.001034248,000.00 1.400RVRW 294.89 0.00 294.891.400101248,000.0076951DAL4 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,738.45 0.00 4,738.451.1161015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.3291012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.500FHLMC 3,125.00 0.00 3,125.001.4721012,500,000.003134G8Y37 0.00 53,837,943.78105553,837,943.78 2.379LAIF 119,494.41 0.00 119,494.412.44410157,505,436.6098-33-434 0.00 5,980,935.3910575,980,935.39WELLS 0.01 0.00 0.011014,240,622.944159282482 0.00 3,300.0010593,300.00CITYPC 0.00 0.00 0.001013,300.00SYS1059 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.58 0.00 2,864.581.3491012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 458.63 0.00 458.632.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 448.44 0.00 448.442.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,911.54 0.00 2,911.541.3801012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,911.55 0.00 2,911.551.3761012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 2,105.97 0.00 2,105.971.2761011,942,800.00912828T67 0.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.34 0.00 2,833.341.6681012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.34 0.00 3,333.341.9721011,990,000.003134GBAE2 0.00 240,000.001076240,000.00 1.600STRNS 326.14 0.00 326.141.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 458.63 0.00 458.632.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 489.21 0.00 489.212.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.84 0.00 645.841.542101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 489.21 0.00 489.212.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 374.55 0.00 374.551.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 458.63 0.00 458.632.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 479.01 0.00 479.012.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.66 0.00 1,666.661.963101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 377.10 0.00 377.101.850101240,000.0015523RBJ4 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:50 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest July 1, 2019 - July 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001086240,000.00 1.800BNKRS 366.90 0.00 366.901.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 356.71 0.00 356.711.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 468.82 0.00 468.822.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 387.29 0.00 387.291.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.67 0.00 1,791.672.1101011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 336.33 0.00 336.331.650101240,000.00320165HX4 0.00 0.0010920.00 1.080FFCB 330.00 0.00 7,730.001.103101992,600.003133EGLC7 7,400.00 240,000.001093240,000.00 1.650DOUGLS 336.33 0.00 336.331.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 356.71 0.00 356.711.750101240,000.00319141GT8 0.00 245,000.001095245,000.00 2.250ALLIAN 468.18 0.00 468.182.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 489.21 0.00 489.212.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 468.82 0.00 468.822.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.83 0.00 645.831.525101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 478.58 0.00 478.582.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 364.14 0.00 364.141.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 436.97 0.00 436.972.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 436.97 0.00 436.972.100101245,000.00080515CD9 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.16 0.00 1,354.161.600101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.66 0.00 1,416.661.681101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 457.78 0.00 457.782.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 447.38 0.00 447.382.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 364.15 0.00 364.151.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 374.55 0.00 374.551.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 499.40 0.00 499.402.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 426.57 0.00 426.572.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 520.21 0.00 520.212.500101245,000.0088413QBY3 0.00 1,627,510.7611141,627,510.76CALPRS 0.00 0.00 0.001010.00SYS1114 0.00 0.0011160.00 2.550FHLMC 2,054.17 0.00 2,054.172.5851011,000,000.003134GSCD5 0.00 985,800.0011171,000,000.00 1.500USTR 1,284.53 0.00 1,284.531.534101985,800.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 770.84 0.00 770.841.824101497,700.00594918BV5 0.00 245,000.001119245,000.00 2.800ANECA 582.63 0.00 582.632.800101245,000.00034577AH9 0.00 245,000.001120245,000.00 2.550UNITY 530.61 0.00 530.612.550101245,000.0091330ABN6 0.00 746,625.001122750,000.00 2.750FHLMC 1,718.75 0.00 1,718.752.710101746,625.003134GSCQ6 0.00 245,000.001123245,000.00 2.900CITINA 603.43 0.00 603.432.900101245,000.0017312QJ26 0.00 245,000.001124245,000.00 2.7001STTCH 561.82 0.00 561.822.700101245,000.0033715LBJ8 0.00 240,000.001125240,000.00 2.950ENER 601.32 0.00 601.322.950101240,000.0029278TAY6 0.00 240,000.001126240,000.00 2.800FARMIG 570.74 0.00 570.742.800101240,000.0030960QAG2 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:50 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest July 1, 2019 - July 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001127240,000.00 2.700NORPNT 550.36 0.00 550.362.700101240,000.00666613GV0 0.00 240,000.001128240,000.00 2.800TOWNE 570.74 0.00 570.742.800101240,000.0089214PBL2 0.00 240,000.001134240,000.00 3.050UOFICU 621.69 0.00 621.693.050101240,000.0091435LAG2 0.00 488,250.001138500,000.00 1.125USTR 473.85 0.00 473.851.143101488,250.00912828VA5 0.00 496,700.001139500,000.00 1.750FNMA 729.16 0.00 729.161.728101496,700.003135G0ZG1 0.00 492,000.001140500,000.00 0.875FNMA 364.59 0.00 364.590.873101492,000.003135G0N33 0.00 491,750.001142500,000.00 1.550FFCB 645.84 0.00 645.841.546101491,750.003133EHJA2 0.00 245,000.001143245,000.00 3.100ALLGNC 645.05 0.00 645.053.100101245,000.0001748DBE5 0.00 245,000.001144245,000.00 3.150RCB 655.46 0.00 655.463.150101245,000.0074934YAH4 0.00 245,000.001145245,000.00 2.750WEX 572.23 0.00 572.232.750101245,000.0092937CHG6 0.00 245,000.001146245,000.00 2.850EAGLE 593.03 0.00 593.032.850101245,000.0027002YDV5 0.00 245,000.001147245,000.00 3.1501STNBA 655.46 0.00 655.463.150101245,000.0032110YLK9 0.00 245,000.001148245,000.00 3.000TRAD 624.25 0.00 624.253.000101245,000.0089269CBX9 0.00 245,000.001149245,000.00 3.000PCSB 624.25 0.00 624.253.000101245,000.0069324MAD7 0.00 240,000.001150240,000.00 3.100GECRUN 631.89 0.00 631.893.100101240,000.00369674AV8 0.00 249,000.001151249,000.00 3.250NWENGL 687.31 0.00 687.313.250101249,000.0006426KAN8 0.00 20,573,497.33115320,573,497.33CAMP 42,118.13 0.00 42,118.132.41510120,531,379.20SYS1153 0.00 245,000.001154245,000.00 3.350JEFF 697.07 0.00 697.073.350101245,000.00474067AQ8 0.00 248,000.001155248,000.00 3.300MARBUS 695.08 0.00 695.083.300101248,000.0057116ARV2 0.00 398,800.001156400,000.00 3.000FHLMC 1,000.00 0.00 1,000.002.952101398,800.003134GSWS0 0.00 378,360.001157400,000.00 2.000MCRSFT 666.66 0.00 666.662.075101378,360.00594918BQ6 0.00 247,275.001158250,000.00 2.800FFCB 583.33 0.00 583.332.778101247,275.003133EJYL7 0.00 487,950.001159500,000.00 2.300P&G 958.34 0.00 958.342.312101487,950.00742718DY2 0.00 245,000.001160245,000.00 3.200MUNTRS 665.86 0.00 665.863.200101245,000.00625925AR3 0.00 245,000.001161245,000.00 3.350UBS 697.08 0.00 697.083.350101245,000.0090348JEJ5 0.00 248,000.001162248,000.00 3.400COMMBK 716.14 0.00 716.143.400101248,000.0020143PDV9 0.00 248,000.001163248,000.00 3.250MRRCK 684.55 0.00 684.553.250101248,000.0059013J4K2 0.00 248,000.001164248,000.00 3.550NMRCA 747.73 0.00 747.733.550101248,000.0067054NAN3 0.00 248,000.001165248,000.00 3.000FARMBU 631.89 0.00 631.893.000101248,000.00307660LC2 0.00 248,000.001166248,000.00 3.350REDRCK 705.61 0.00 705.613.350101248,000.0075701LAB3 0.00 245,000.001167245,000.00 3.200NEIGH 665.87 0.00 665.873.200101245,000.0064017AAQ7 0.00 245,000.001168245,000.00 3.1501STSRC 655.46 0.00 655.463.150101245,000.0033646CKP8 0.00 248,000.001169248,000.00 3.400MEDBA 716.14 0.00 716.143.400101248,000.0058404DCX7 0.00 245,000.001170245,000.00 3.400NLCOOP 707.48 0.00 707.483.400101245,000.00635573AL2 0.00 248,000.001171248,000.00 3.300MAINE 695.08 0.00 695.083.300101248,000.00560507AK1 0.00 248,000.001172248,000.00 3.350BARHAR 705.61 0.00 705.613.350101248,000.00066851WJ1 0.00 248,000.001173248,000.00 2.750MORTN 579.24 0.00 579.242.750101248,000.00619165JD6 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:50 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest July 1, 2019 - July 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 248,000.001174248,000.00 3.000WELLS 631.89 0.00 631.893.000101248,000.00949763XY7 0.00 485,250.001175500,000.00 1.950COLGTE 812.50 0.00 812.501.971101485,250.0019416QEA4 0.00 245,000.001176245,000.00 2.500ALLY 520.20 0.00 520.202.500101245,000.0002007GHX4 0.00 498,550.001177500,000.00 2.500FHLB 1,041.67 0.00 1,041.672.460101498,550.003130AFW94 0.00 489,687.501178500,000.00 1.875USTR 794.05 0.00 794.051.909101489,687.509128282W9 0.00 248,000.001179248,000.00 2.8001STNBK 589.77 0.00 589.772.800101248,000.0032117BCX4 0.00 248,000.001180248,000.00 2.700VERUS 568.70 0.00 568.702.700101248,000.0092535LCD4 0.00 248,000.001181248,000.00 2.950NRTHWS 621.35 0.00 621.352.950101248,000.0066736ABP3 0.00 -499,654.171183-499,654.17STIFEL 99.41 0.00 99.41-0.505101100,115.92SYS1183 0.00 248,000.001184248,000.00 2.500CENTNX 526.58 0.00 526.582.500101248,000.00156634AK3 0.00 245,000.001185245,000.00 3.250JPMORG 676.27 0.00 676.273.250101245,000.0048128HXU7 0.00 245,000.001186245,000.00 2.400IOWAST 499.40 0.00 499.402.400101245,000.0046256YAZ2 0.00 248,000.001187248,000.00 2.400TSCOLA 505.51 0.00 505.512.400101248,000.0087266AAA1 0.00 248,000.001188248,000.00 2.600MAINST 547.64 0.00 547.642.600101248,000.0056065GAG3 0.00 248,000.001189248,000.00 2.500CONGRS 526.58 0.00 526.582.500101248,000.0020726ABA5 0.00 496,650.001190500,000.00 2.350WALMRT 979.17 0.00 979.172.321101496,650.00931142DU4 0.00 492,100.001191500,000.00 1.700FFCB 708.33 0.00 708.331.695101492,100.003133EGD28 0.00 496,650.001192500,000.00 1.750USTR 737.09 0.00 737.091.747101496,650.00912828SV3 0.00 493,610.001193500,000.00 1.375USTR 582.31 0.00 582.311.389101493,610.00912828R77 0.00 245,000.001194245,000.00 2.500PITTS 520.21 0.00 520.212.500101245,000.00725404AB3 0.00 245,000.001195245,000.00 2.550PLAINS 530.61 0.00 530.612.550101245,000.0072651LCL6 0.00 248,000.001196248,000.00 2.600EVNSCU 547.64 0.00 547.642.600101248,000.00299547AQ2 0.00 248,000.001197248,000.00 2.400LEGCY 505.51 0.00 505.512.400101248,000.00524661CB9 0.00 499,500.001198500,000.00 1.875FFCB 781.25 0.00 781.251.842101499,500.003133EKQP4 0.00 248,000.001199248,000.00 2.400CTZNST 505.51 0.00 505.512.400101248,000.00176688CP2 0.00 248,000.001200248,000.00 2.300AMERCU 484.45 0.00 484.452.300101248,000.0003065AAL7 0.00 245,000.001201245,000.00 2.150STRLNG 447.38 0.00 447.382.150101245,000.0085916VDC6 0.00 248,000.001202248,000.00 2.250COMMW 473.91 0.00 473.912.250101248,000.0020416TAQ5 0.00 247,000.001203247,000.00 2.300REVER 482.50 0.00 482.502.300101247,000.00761402BY1 0.00 499,750.001204500,000.00 1.900TOYOTA 791.66 0.00 791.661.865101499,750.0089236TCZ6 0.00 248,000.001205248,000.00 2.000AMRNTL 163.07 0.00 163.072.0001010.0002772JBD1 0.00 495,950.001206500,000.00 1.750FNMA 388.89 0.00 388.891.6841010.003135G0V75 0.00 248,000.001207248,000.00 1.950ABACUS 66.25 0.00 66.251.9501010.0000257TBD7 0.00 248,000.001208248,000.00 2.000LKSIDE 13.59 0.00 13.592.0001010.0051210SQU4 0.00 248,000.001209248,000.00 2.0001STSEC 13.59 0.00 13.592.0001010.0033625CCP2 0.00 248,000.001210248,000.00 2.000PEOPLE 0.00 0.00 0.001010.00710571DS6 0.00 248,000.001211248,000.00 2.100NFNITY 0.00 0.00 0.001010.0045667EDY1 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:50 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 5 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest July 1, 2019 - July 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss 144,560,533.09Subtotal 144,297,790.59 2.185 271,531.970.00264,131.97145,163,762.16 7,400.00 Fund: Fiscal Agent 1,676.1310581,676.13USBANK 2.37 0.00 2.371.6672311,673.76SYS1058 0.00 1,676.13Subtotal 1,676.13 1.667 2.370.002.371,673.76 0.00 Fund: Housing Authority : WSA and LQ 217,962.351062217,962.35LQPR 0.00 0.00 0.00241242,947.26SYS1062 0.00 217,962.35Subtotal 217,962.35 0.000.000.00242,947.26 0.00 Fund: SA Low/Mod Bond Fund 16,468,417.85111316,468,417.85 2.379LAIF 34,116.02 0.00 34,116.022.44624916,363,851.4325-33-005 0.00 16,468,417.85Subtotal 16,468,417.85 2.446 34,116.020.0034,116.0216,363,851.43 0.00 161,248,589.42Total 160,985,846.92 2.208 305,650.360.00298,250.36161,772,234.61 7,400.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:50 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1Bank of the West1228 500,005.00 500,005.0008/20/2019 500,005.00 1059731851 0.000 1City Petty Cash1059 3,300.00 3,300.0007/01/2016 3,300.00 1SYS1059 0.000 1La Quinta Palms Realty1062 221,909.05 221,909.0507/01/2016 221,909.05 1SYS1062 0.000 1Stifel, Nicolaus & Company1183 89,327.83 89,327.8303/18/2019 89,327.83 1SYS1183 0.000 1Wells Fargo1057 3,851,244.33 3,851,244.3307/01/2016 3,851,244.33 14159282482 0.000 4,665,786.21 14,665,786.214,665,786.215,813,203.39Subtotal and Average 1 0.000 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 32,837,943.78 32,837,943.78 2.34132,936,381.01 198-33-434 2.341 32,837,943.78 132,936,381.0132,837,943.7842,999,234.10Subtotal and Average 1 2.341 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 16,468,417.85 16,468,417.85 2.34116,496,429.33 125-33-005 2.341 16,468,417.85 116,496,429.3316,468,417.8516,468,417.85Subtotal and Average 1 2.341 Money Market Accounts - CAMP 1California Asset Management Pr1153 20,613,412.20 20,613,412.2009/26/2018 20,613,412.20 1SYS1153 0.000 20,613,412.20 120,613,412.2020,613,412.2020,574,784.91Subtotal and Average 1 0.000 Federal Agency Coupon Securities 11Federal National Mtg Assn1139 500,000.00 496,700.00 09/12/20191.75005/31/2018 499,950.00 4693135G0ZG1 2.275 148Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,997,660.00 1,0363135G0S53 1.700 250Federal Farm Credit Bank1142 500,000.00 491,750.00 05/08/20201.55005/31/2018 498,835.00 7083133EHJA2 2.427 376Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 998,240.00 1,0373130A66T9 1.741 421Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,491,075.00 1,4613130A9UQ2 1.375 605Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,489,950.00 1,8263130A7QZ1 1.423 605Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.50004/28/2016 2,499,925.00 1,8263134G8Y37 1.400 731Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 1,001,730.00 1,3923133EHWM1 1.913 850Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 1,000,250.00 1,6373134GBXF4 2.012 940Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 2,000,620.00 1,8263134GBAE2 2.106 1,060Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 1,000,830.00 1,8263134GBWG3 2.150 1,122Federal Home Loan Mtg Corp1156 400,000.00 398,800.00 09/27/20223.00010/15/2018 400,324.00 1,4433134GSWS0 3.081 1,157Federal Farm Credit Bank1191 500,000.00 492,100.00 11/01/20221.70005/28/2019 500,000.00 1,2533133EGD28 2.181 1,198Federal Farm Credit Bank1198 500,000.00 499,500.00 12/12/20221.87506/20/2019 506,310.00 1,2713133EKQP4 1.905 1,465Federal Farm Credit Bank1158 250,000.00 247,275.00 09/05/20232.80010/15/2018 262,810.00 1,7863133EJYL7 3.041 Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Federal Agency Coupon Securities 1,626Federal Home Loan Bank1177 500,000.00 498,550.00 02/13/20242.50003/01/2019 522,895.00 1,8103130AFW94 2.563 1,766Federal National Mtg Assn1206 500,000.00 495,950.00 07/02/20241.75007/15/2019 506,880.00 1,8143135G0V75 1.922 1,790Federal Farm Credit Bank1212 500,000.00 499,500.00 07/26/20241.85008/02/2019 508,245.00 1,8203133EKWV4 1.871 19,589,875.00 1,52719,686,529.0019,650,000.0020,119,495.97Subtotal and Average 711 1.805 Treasury Coupon Securities 105U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,495,600.00 1,000912828U73 1.513 212U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,492,575.00 1,107912828J84 1.602 242U.S. Treasury1138 500,000.00 488,250.00 04/30/20201.12505/31/2018 497,600.00 700912828VA5 2.387 349U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 997,230.00 9369128282Q2 2.071 638U.S. Treasury1193 500,000.00 493,610.00 05/31/20211.37505/31/2019 498,205.00 731912828R77 2.030 668U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,960,150.00 1,808912828S27 1.125 791U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,988,820.00 1,679912828T67 1.903 987U.S. Treasury1192 500,000.00 496,650.00 05/15/20221.75005/31/2019 503,905.00 1,080912828SV3 1.984 1,125U.S. Treasury1178 500,000.00 489,687.50 09/30/20221.87503/01/2019 506,760.00 1,3099128282W9 2.480 1,490U.S. Treasury1217 500,000.00 499,300.00 09/30/20231.37508/21/2019 499,160.00 1,501912828T26 1.410 15,370,097.50 1,37215,440,005.0015,500,000.0015,047,968.47Subtotal and Average 535 1.573 Certificate of Deposits 4Riverwood1034248,000.00 248,000.00 09/05/20191.40006/05/2015 247,990.08 1,55376951DAL4 1.402 78Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 244,926.50 73261747MA92 1.800 78Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 244,899.55 73261760AEP0 1.750 81First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 239,848.80 853320165HX4 1.653 142Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 239,776.80 916259744DS6 1.655 233Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 239,692.80 1,096857894TC3 1.588 254Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 244,955.90 915472376AC6 1.751 278EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 247,890.88 1,82729976DXX3 1.702 283Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 245,367.50 1,827140420RX0 1.902 285Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 247,796.64 1,827063615AVO 1.652 288Wex Bank1145 245,000.00 245,000.00 06/15/20202.75006/13/2018 246,920.80 73392937CHG6 2.754 310Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 240,000.00 1,09658740XZL7 1.752 316First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 240,004.80 1,096319141GT8 1.752 414First Tech Federal Credit Unio1124 245,000.00 245,000.00 10/19/20202.70004/18/2018 247,641.10 91533715LBJ8 2.623 449First Bank Richmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 245,154.35 1,251319267GC8 1.802 478Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 245,940.80 1,09635638BAA9 2.052 501Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 240,141.60 1,28006610RAP4 1.804 Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 505Farm Bureau Bank1165 248,000.00 248,000.00 01/18/20213.00012/17/2018 252,216.00 763307660LC2 2.898 507Eagle Bank1146 245,000.00 245,000.00 01/20/20212.85007/20/2018 248,677.45 91527002YDV5 2.858 519Infinty FCU1211 248,000.00 248,000.00 02/01/20212.10007/31/2019 249,185.44 55145667EDY1 2.110 540Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 239,779.20 1,82720033APG5 1.702 554Ally Bank Midvale1176 245,000.00 245,000.00 03/08/20212.50003/07/2019 247,697.45 73202007GHX4 2.016 562Unity Bank1120 245,000.00 245,000.00 03/16/20212.55003/16/2018 247,927.75 1,09691330ABN6 2.552 596Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 241,473.60 1,46102587DP85 2.252 607Towne Bank1128 240,000.00 240,000.00 04/30/20212.80004/30/2018 244,032.00 1,09689214PBL2 2.803 633PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 239,268.00 1,82674267GVG9 1.501 645Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 241,960.80 1,46114042RGD7 2.252 682Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 240,285.60 1,46115523RBJ4 1.851 715General Electric Credit Union1150 240,000.00 240,000.00 08/16/20213.10008/15/2018 246,060.00 1,097369674AV8 3.100 786Northpointe Bank1127 240,000.00 240,000.00 10/26/20212.70004/26/2018 244,562.40 1,279666613GV0 2.703 808First Source Bank1168 245,000.00 245,000.00 11/17/20213.15012/17/2018 252,166.25 1,06633646CKP8 3.153 813Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 246,580.25 1,462080515CD9 2.101 813TNB Bank1187 248,000.00 248,000.00 11/22/20212.40005/22/2019 251,224.00 91587266AAA1 2.407 842Neighbors FCU1167 245,000.00 245,000.00 12/21/20213.20012/21/2018 252,683.20 1,09664017AAQ7 3.203 843United Credit Union1214 248,000.00 248,000.00 12/22/20212.00008/22/2019 249,071.36 853910160AH3 2.003 871The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 240,487.20 1,645677721CN0 1.903 883Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 248,966.55 1,46288413QBY3 2.502 884Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 242,469.60 1,8262546722U1 2.251 907BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 242,222.40 1,82605580AGK4 2.201 911Maine Savings FCU1171 248,000.00 248,000.00 02/28/20223.30012/28/2018 256,960.24 1,158560507AK1 3.306 968Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 243,549.60 1,82638148PJK4 2.401 971Farmers Insurance Group FCU1126 240,000.00 240,000.00 04/29/20222.80004/30/2018 246,069.60 1,46030960QAG2 2.802 989Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 246,751.75 1,64250116CBE8 2.099 1,005Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 243,648.00 1,82687164XQV1 2.401 1,011PCSB Bank1149 245,000.00 245,000.00 06/08/20223.00006/08/2018 252,729.75 1,46169324MAD7 3.002 1,016Allegiance Bank1143 245,000.00 245,000.00 06/13/20223.10006/13/2018 253,398.60 1,46101748DBE5 3.102 1,024Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 243,372.00 1,826795450A70 2.351 1,031America's Credit Union1200 248,000.00 248,000.00 06/28/20222.30006/28/2019 249,012.83 1,09603065AAL7 2.302 1,047HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 240,348.00 1,82640434YLE5 2.301 1,072Traditions Bank1148 245,000.00 245,000.00 08/08/20223.00006/08/2018 253,119.30 1,52289269CBX9 3.002 1,087CIT Bank NA1219 245,000.00 245,000.00 08/23/20221.90008/23/2019 245,396.90 1,09612556LBA3 1.902 1,093American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 242,824.80 1,82602587CFU9 2.402 1,093Sterling Bank1201 245,000.00 245,000.00 08/29/20222.15006/28/2019 247,175.60 1,15885916VDC6 2.153 Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,138Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 247,895.90 1,82601859BAA3 2.251 1,150Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 243,204.00 1,82606740KLJ4 2.291 1,153Merrick Bank1163 248,000.00 248,000.00 10/28/20223.25010/30/2018 258,562.32 1,45959013J4K2 3.252 1,164Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 248,290.35 1,82662384RAC0 2.301 1,174CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 247,530.85 1,82422766ACB9 2.201 1,184Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 247,141.30 1,82629367QCP1 2.151 1,193Medallion Bank1169 248,000.00 248,000.00 12/07/20223.40012/07/2018 259,993.28 1,46158404DCX7 3.402 1,193Red Rocks Credit Union1166 248,000.00 248,000.00 12/07/20223.35012/07/2018 259,601.44 1,46175701LAB3 3.352 1,215Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 249,098.85 1,826499724AB8 2.401 1,276Verus Bank of Commerce1180 248,000.00 248,000.00 02/28/20232.70002/28/2019 254,705.92 1,46192535LCD4 2.700 1,298Aneca Federal Credit Union1119 245,000.00 245,000.00 03/22/20232.80003/22/2018 252,501.90 1,826034577AH9 2.802 1,318Citibank NA1123 245,000.00 245,000.00 04/11/20232.90004/11/2018 253,405.95 1,82617312QJ26 2.902 1,335Congressional Bank1189 248,000.00 248,000.00 04/28/20232.50004/30/2019 253,098.88 1,45920726ABA5 2.502 1,335EnerBank USA1125 240,000.00 240,000.00 04/28/20232.95004/30/2018 248,752.80 1,82429278TAY6 2.952 1,342First National Bank1179 248,000.00 248,000.00 05/05/20232.80003/05/2019 255,750.00 1,52232117BCX4 2.802 1,352University of Iowa Comm. CU1134 240,000.00 240,000.00 05/15/20233.05005/14/2018 249,676.80 1,82791435LAG2 3.052 1,375Pittsfield Cooperative Bank1194 245,000.00 245,000.00 06/07/20232.50006/07/2019 250,051.90 1,461725404AB3 2.502 1,388Morton Community1173 248,000.00 248,000.00 06/20/20232.75003/20/2019 255,420.16 1,553619165JD6 2.753 1,388RCB Bank1144 245,000.00 245,000.00 06/20/20233.15006/20/2018 255,927.00 1,82674934YAH4 3.152 1,417American National Bank1205 248,000.00 248,000.00 07/19/20232.00007/19/2019 248,525.76 1,46102772JBD1 2.001 1,418First National Bank of America1147 245,000.00 245,000.00 07/20/20233.15007/20/2018 256,069.10 1,82632110YLK9 3.152 1,429Bank of New England1151 249,000.00 249,000.00 07/31/20233.25007/31/2018 261,235.86 1,82606426KAN8 3.252 1,452Raymond James Bank1218 244,000.00 244,000.00 08/23/20231.95008/23/2019 243,963.40 1,46175472RAD3 1.951 1,507Marlin Business Bank1155 248,000.00 248,000.00 10/17/20233.30010/17/2018 261,245.68 1,82657116ARV2 3.302 1,507Municipal Trust and Savings1160 245,000.00 245,000.00 10/17/20233.20010/17/2018 257,112.80 1,826625925AR3 3.202 1,507UBS Bank USA1161 245,000.00 245,000.00 10/17/20233.35010/17/2018 258,570.55 1,82690348JEJ5 3.352 1,509Jefferson Financial CU1154 245,000.00 245,000.00 10/19/20233.35010/19/2018 258,533.80 1,826474067AQ8 3.352 1,536Commercial Bank1162 248,000.00 248,000.00 11/15/20233.40011/15/2018 262,500.56 1,82620143PDV9 3.402 1,549Numerica Credit Union1164 248,000.00 248,000.00 11/28/20233.55011/28/2018 264,139.84 1,82667054NAN3 3.552 1,572National Cooperative Bank, N.A1170 245,000.00 245,000.00 12/21/20233.40012/21/2018 259,614.25 1,826635573AL2 3.402 1,580Bar Harbor Bank and Trust1172 248,000.00 248,000.00 12/29/20233.35012/31/2018 262,408.80 1,824066851WJ1 3.352 1,611Lakeside Bank1208 248,000.00 248,000.00 01/29/20242.00007/30/2019 248,530.72 1,64451210SQU4 2.003 1,626Northwest Bank1181 248,000.00 248,000.00 02/13/20242.95002/13/2019 258,589.60 1,82666736ABP3 2.951 1,640Wells Fargo1174 248,000.00 248,000.00 02/27/20243.00002/27/2019 257,845.60 1,826949763XY7 3.001 1,699Main Street Bank1188 248,000.00 248,000.00 04/26/20242.60004/26/2019 255,224.24 1,82756065GAG3 2.603 1,719Century Next Bank1184 248,000.00 248,000.00 05/16/20242.50005/29/2019 254,252.08 1,814156634AK3 2.503 Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 Days to Maturity Page 5 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,719JP Morgan Chase1185 245,000.00 245,000.00 05/16/20243.25005/16/2019 241,545.50 1,82748128HXU7 3.254 1,726Iowa State Bank1186 245,000.00 245,000.00 05/23/20242.40005/23/2019 250,024.95 1,82746256YAZ2 2.403 1,741Plains Commerce Bank1195 245,000.00 245,000.00 06/07/20242.55006/07/2019 251,739.95 1,82772651LCL6 2.553 1,746Evansville Teachers Credit FCU1196 248,000.00 248,000.00 06/12/20242.60006/12/2019 255,435.04 1,827299547AQ2 2.603 1,753Legacy Bank1197 248,000.00 248,000.00 06/19/20242.40006/19/2019 253,193.12 1,827524661CB9 2.403 1,755Citizens State Bank1199 248,000.00 248,000.00 06/21/20242.40006/21/2019 253,200.56 1,827176688CP2 2.403 1,762Communitywide FCU1202 248,000.00 248,000.00 06/28/20242.25006/28/2019 251,504.24 1,82720416TAQ5 2.253 1,762Revere Bank1203 247,000.00 247,000.00 06/28/20242.30006/28/2019 251,048.33 1,827761402BY1 2.303 1,790Abacus Federal Savings1207 248,000.00 248,000.00 07/26/20241.95007/26/2019 248,099.20 1,82700257TBD7 1.952 1,794First Security Bank1209 248,000.00 248,000.00 07/30/20242.00007/30/2019 248,682.00 1,82733625CCP2 2.002 1,795People's Bank1210 248,000.00 248,000.00 07/31/20242.00007/31/2019 248,682.00 1,827710571DS6 2.002 1,811Preferred Bank1213 249,000.00 249,000.00 08/16/20242.00008/16/2019 249,699.69 1,827740367HP5 2.002 1,818FirsTier Bank1216 249,000.00 249,000.00 08/23/20241.95008/23/2019 249,114.54 1,82733766LAJ7 1.952 1,818Washington Federal1215 248,000.00 248,000.00 08/23/20242.00008/23/2019 248,701.84 1,827938828BH2 2.002 1,825First State Bk DeQueen1222 248,000.00 248,000.00 08/30/20241.80008/30/2019 246,345.84 1,827336460CX6 1.802 1,825First Natl Bk of Syracuse1221 249,000.00 249,000.00 08/30/20241.85008/30/2019 247,931.79 1,827334342CD2 1.852 1,825Celtic Bank1220 248,000.00 248,000.00 08/30/20241.85008/30/2019 246,936.08 1,82715118RRH2 1.852 25,965,000.00 1,52626,423,159.2825,965,000.0024,223,741.94Subtotal and Average 1,086 2.444 Corporate Notes 47Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 499,525.00 71089236TDH5 1.681 158Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 499,640.00 745594918BV5 2.081 585Toyota Motor Credit Corp1204 500,000.00 499,750.00 04/08/20211.90006/24/2019 500,135.00 65489236TCZ6 1.928 703Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 497,530.00 1,514037833CC2 1.900 889Proctor and Gamble1159 500,000.00 487,950.00 02/06/20222.30010/15/2018 507,130.00 1,210742718DY2 3.071 1,201Wal-Mart Stores, Inc1190 500,000.00 496,650.00 12/15/20222.35004/16/2019 509,220.00 1,339931142DU4 2.799 1,249Colgate-Palmolive1175 500,000.00 485,250.00 02/01/20231.95003/04/2019 504,350.00 1,43019416QEA4 2.751 1,437Microsoft Corporation1157 400,000.00 378,360.00 08/08/20232.00010/15/2018 405,020.00 1,758594918BQ6 3.222 3,837,460.00 1,1503,922,550.003,900,000.003,837,460.00Subtotal and Average 761 2.402 Money Market with Fiscal Agent 1US Bank1058 13,120,363.58 13,120,363.5807/01/2016 13,120,363.58 1SYS1058 0.000 13,120,363.58 113,120,363.5813,120,363.58424,859.60Subtotal and Average 1 0.000 Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 Days to Maturity Page 6 Par Value Book Value Maturity Date Stated RateMarket Value August 31, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date CERBT - OPEB Trust 1CalPERS CERBT Plan1114 1,627,510.76 1,627,510.7607/01/2019 1,627,510.76 1SYS1114 0.000 1,627,510.76 11,627,510.761,627,510.761,627,510.76Subtotal and Average 1 0.000 PARS Pension Trust 1Pblc Agncy Rtrmnt Serv1230 6,551,037.92 6,551,037.9208/01/2019 6,551,037.92 1SYS1230 0.000 6,551,037.92 16,551,037.926,551,037.921,266,162.51Subtotal and Average 1 0.000 592152,402,839.49 160,899,472.30 332 1.541161,483,164.29 160,646,904.80Total and Average Portfolio CITY CP Run Date: 11/06/2019 - 14:13 PM (PRF_PM2) 7.3.0 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund August 1, 2019 - August 31, 2019 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 248,000.001002248,000.00 1.650MIDWES 347.54 0.00 347.541.650101248,000.00063615AVO 0.00 245,000.001006245,000.00 1.900CAPONE 395.36 0.00 395.361.900101245,000.00140420RX0 0.00 240,000.001009240,000.00 1.700CCBA 346.52 0.00 346.521.700101240,000.0020033APG5 0.00 248,000.001017248,000.00 1.700EVRBA 358.07 0.00 358.071.700101248,000.0029976DXX3 0.00 240,000.001032240,000.00 1.500PRVTBA 305.76 0.00 305.761.500101240,000.0074267GVG9 0.00 248,000.001034248,000.00 1.400RVRW 294.88 0.00 294.881.400101248,000.0076951DAL4 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,738.46 0.00 4,738.461.1161015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.3291012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.500FHLMC 3,125.00 0.00 3,125.001.4721012,500,000.003134G8Y37 0.00 32,837,943.78105532,837,943.78 2.341LAIF 89,268.23 0.00 89,268.232.44410153,837,943.7898-33-434 0.00 3,851,244.3310573,851,244.33WELLS 0.01 0.00 0.011015,980,935.394159282482 0.00 3,300.0010593,300.00CITYPC 0.00 0.00 0.001013,300.00SYS1059 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.58 0.00 2,864.581.3491012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 458.63 0.00 458.632.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 448.44 0.00 448.442.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,911.55 0.00 2,911.551.3801012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,911.54 0.00 2,911.541.3761012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 2,105.98 0.00 2,105.981.2761011,942,800.00912828T67 0.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.33 0.00 2,833.331.6681012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.33 0.00 3,333.331.9721011,990,000.003134GBAE2 0.00 240,000.001076240,000.00 1.600STRNS 326.13 0.00 326.131.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 458.63 0.00 458.632.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 489.21 0.00 489.212.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.83 0.00 645.831.542101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 489.20 0.00 489.202.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 374.55 0.00 374.551.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 458.63 0.00 458.632.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 479.02 0.00 479.022.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.67 0.00 1,666.671.963101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 377.09 0.00 377.091.850101240,000.0015523RBJ4 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest August 1, 2019 - August 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001086240,000.00 1.800BNKRS 366.91 0.00 366.911.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 356.71 0.00 356.711.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 468.82 0.00 468.822.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 387.29 0.00 387.291.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.67 0.00 1,791.672.1101011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 336.33 0.00 336.331.650101240,000.00320165HX4 0.00 240,000.001093240,000.00 1.650DOUGLS 336.33 0.00 336.331.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 356.71 0.00 356.711.750101240,000.00319141GT8 0.00 245,000.001095245,000.00 2.250ALLIAN 468.18 0.00 468.182.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 489.20 0.00 489.202.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 468.82 0.00 468.822.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.83 0.00 645.831.525101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 478.59 0.00 478.592.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 364.15 0.00 364.151.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 436.97 0.00 436.972.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 436.98 0.00 436.982.100101245,000.00080515CD9 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.17 0.00 1,354.171.600101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.67 0.00 1,416.671.681101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 457.78 0.00 457.782.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 447.38 0.00 447.382.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 364.14 0.00 364.141.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 374.54 0.00 374.541.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 499.40 0.00 499.402.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 426.57 0.00 426.572.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 520.21 0.00 520.212.500101245,000.0088413QBY3 0.00 1,627,160.0011141,627,160.00CALPRS 0.00 0.00 0.001011,627,510.76SYS1114 0.00 985,800.0011171,000,000.00 1.500USTR 1,273.04 0.00 1,273.041.520101985,800.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 770.83 0.00 770.831.824101497,700.00594918BV5 0.00 245,000.001119245,000.00 2.800ANECA 582.63 0.00 582.632.800101245,000.00034577AH9 0.00 245,000.001120245,000.00 2.550UNITY 530.61 0.00 530.612.550101245,000.0091330ABN6 0.00 0.0011220.00 2.750FHLMC 1,260.41 0.00 4,635.412.801101746,625.003134GSCQ6 3,375.00 245,000.001123245,000.00 2.900CITINA 603.44 0.00 603.442.900101245,000.0017312QJ26 0.00 245,000.001124245,000.00 2.7001STTCH 561.82 0.00 561.822.700101245,000.0033715LBJ8 0.00 240,000.001125240,000.00 2.950ENER 601.31 0.00 601.312.950101240,000.0029278TAY6 0.00 240,000.001126240,000.00 2.800FARMIG 570.74 0.00 570.742.800101240,000.0030960QAG2 0.00 240,000.001127240,000.00 2.700NORPNT 550.35 0.00 550.352.700101240,000.00666613GV0 0.00 240,000.001128240,000.00 2.800TOWNE 570.74 0.00 570.742.800101240,000.0089214PBL2 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest August 1, 2019 - August 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001134240,000.00 3.050UOFICU 621.70 0.00 621.703.050101240,000.0091435LAG2 0.00 488,250.001138500,000.00 1.125USTR 473.84 0.00 473.841.143101488,250.00912828VA5 0.00 496,700.001139500,000.00 1.750FNMA 729.17 0.00 729.171.728101496,700.003135G0ZG1 0.00 0.0011400.00 0.875FNMA 12.15 0.00 8,012.150.901101492,000.003135G0N33 8,000.00 491,750.001142500,000.00 1.550FFCB 645.83 0.00 645.831.546101491,750.003133EHJA2 0.00 245,000.001143245,000.00 3.100ALLGNC 645.06 0.00 645.063.100101245,000.0001748DBE5 0.00 245,000.001144245,000.00 3.150RCB 655.46 0.00 655.463.150101245,000.0074934YAH4 0.00 245,000.001145245,000.00 2.750WEX 572.22 0.00 572.222.750101245,000.0092937CHG6 0.00 245,000.001146245,000.00 2.850EAGLE 593.04 0.00 593.042.850101245,000.0027002YDV5 0.00 245,000.001147245,000.00 3.1501STNBA 655.46 0.00 655.463.150101245,000.0032110YLK9 0.00 245,000.001148245,000.00 3.000TRAD 624.25 0.00 624.253.000101245,000.0089269CBX9 0.00 245,000.001149245,000.00 3.000PCSB 624.25 0.00 624.253.000101245,000.0069324MAD7 0.00 240,000.001150240,000.00 3.100GECRUN 631.89 0.00 631.893.100101240,000.00369674AV8 0.00 249,000.001151249,000.00 3.250NWENGL 687.31 0.00 687.313.250101249,000.0006426KAN8 0.00 20,613,412.20115320,613,412.20CAMP 0.01 0.00 0.0110120,573,497.33SYS1153 0.00 245,000.001154245,000.00 3.350JEFF 697.08 0.00 697.083.350101245,000.00474067AQ8 0.00 248,000.001155248,000.00 3.300MARBUS 695.08 0.00 695.083.300101248,000.0057116ARV2 0.00 398,800.001156400,000.00 3.000FHLMC 1,000.00 0.00 1,000.002.952101398,800.003134GSWS0 0.00 378,360.001157400,000.00 2.000MCRSFT 666.67 0.00 666.672.075101378,360.00594918BQ6 0.00 247,275.001158250,000.00 2.800FFCB 583.33 0.00 583.332.778101247,275.003133EJYL7 0.00 487,950.001159500,000.00 2.300P&G 958.33 0.00 958.332.312101487,950.00742718DY2 0.00 245,000.001160245,000.00 3.200MUNTRS 665.87 0.00 665.873.200101245,000.00625925AR3 0.00 245,000.001161245,000.00 3.350UBS 697.07 0.00 697.073.350101245,000.0090348JEJ5 0.00 248,000.001162248,000.00 3.400COMMBK 716.15 0.00 716.153.400101248,000.0020143PDV9 0.00 248,000.001163248,000.00 3.250MRRCK 684.55 0.00 684.553.250101248,000.0059013J4K2 0.00 248,000.001164248,000.00 3.550NMRCA 747.74 0.00 747.743.550101248,000.0067054NAN3 0.00 248,000.001165248,000.00 3.000FARMBU 631.90 0.00 631.903.000101248,000.00307660LC2 0.00 248,000.001166248,000.00 3.350REDRCK 705.61 0.00 705.613.350101248,000.0075701LAB3 0.00 245,000.001167245,000.00 3.200NEIGH 665.86 0.00 665.863.200101245,000.0064017AAQ7 0.00 245,000.001168245,000.00 3.1501STSRC 655.46 0.00 655.463.150101245,000.0033646CKP8 0.00 248,000.001169248,000.00 3.400MEDBA 716.15 0.00 716.153.400101248,000.0058404DCX7 0.00 245,000.001170245,000.00 3.400NLCOOP 707.48 0.00 707.483.400101245,000.00635573AL2 0.00 248,000.001171248,000.00 3.300MAINE 695.08 0.00 695.083.300101248,000.00560507AK1 0.00 248,000.001172248,000.00 3.350BARHAR 705.61 0.00 705.613.350101248,000.00066851WJ1 0.00 248,000.001173248,000.00 2.750MORTN 579.23 0.00 579.232.750101248,000.00619165JD6 0.00 248,000.001174248,000.00 3.000WELLS 631.89 0.00 631.893.000101248,000.00949763XY7 0.00 485,250.001175500,000.00 1.950COLGTE 812.50 0.00 812.501.971101485,250.0019416QEA4 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest August 1, 2019 - August 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 245,000.001176245,000.00 2.500ALLY 520.21 0.00 520.212.500101245,000.0002007GHX4 0.00 498,550.001177500,000.00 2.500FHLB 1,041.67 0.00 1,041.672.460101498,550.003130AFW94 0.00 489,687.501178500,000.00 1.875USTR 794.06 0.00 794.061.909101489,687.509128282W9 0.00 248,000.001179248,000.00 2.8001STNBK 589.76 0.00 589.762.800101248,000.0032117BCX4 0.00 248,000.001180248,000.00 2.700VERUS 568.70 0.00 568.702.700101248,000.0092535LCD4 0.00 248,000.001181248,000.00 2.950NRTHWS 621.36 0.00 621.362.950101248,000.0066736ABP3 0.00 89,327.83118389,327.83STIFEL 77.01 0.00 77.01-0.182101-499,654.17SYS1183 0.00 248,000.001184248,000.00 2.500CENTNX 526.57 0.00 526.572.500101248,000.00156634AK3 0.00 245,000.001185245,000.00 3.250JPMORG 676.26 0.00 676.263.250101245,000.0048128HXU7 0.00 245,000.001186245,000.00 2.400IOWAST 499.40 0.00 499.402.400101245,000.0046256YAZ2 0.00 248,000.001187248,000.00 2.400TSCOLA 505.51 0.00 505.512.400101248,000.0087266AAA1 0.00 248,000.001188248,000.00 2.600MAINST 547.64 0.00 547.642.600101248,000.0056065GAG3 0.00 248,000.001189248,000.00 2.500CONGRS 526.58 0.00 526.582.500101248,000.0020726ABA5 0.00 496,650.001190500,000.00 2.350WALMRT 979.17 0.00 979.172.321101496,650.00931142DU4 0.00 492,100.001191500,000.00 1.700FFCB 708.33 0.00 708.331.695101492,100.003133EGD28 0.00 496,650.001192500,000.00 1.750USTR 737.09 0.00 737.091.747101496,650.00912828SV3 0.00 493,610.001193500,000.00 1.375USTR 582.31 0.00 582.311.389101493,610.00912828R77 0.00 245,000.001194245,000.00 2.500PITTS 520.20 0.00 520.202.500101245,000.00725404AB3 0.00 245,000.001195245,000.00 2.550PLAINS 530.61 0.00 530.612.550101245,000.0072651LCL6 0.00 248,000.001196248,000.00 2.600EVNSCU 547.64 0.00 547.642.600101248,000.00299547AQ2 0.00 248,000.001197248,000.00 2.400LEGCY 505.51 0.00 505.512.400101248,000.00524661CB9 0.00 499,500.001198500,000.00 1.875FFCB 781.25 0.00 781.251.842101499,500.003133EKQP4 0.00 248,000.001199248,000.00 2.400CTZNST 505.52 0.00 505.522.400101248,000.00176688CP2 0.00 248,000.001200248,000.00 2.300AMERCU 484.45 0.00 484.452.300101248,000.0003065AAL7 0.00 245,000.001201245,000.00 2.150STRLNG 447.38 0.00 447.382.150101245,000.0085916VDC6 0.00 248,000.001202248,000.00 2.250COMMW 473.92 0.00 473.922.250101248,000.0020416TAQ5 0.00 247,000.001203247,000.00 2.300REVER 482.49 0.00 482.492.300101247,000.00761402BY1 0.00 499,750.001204500,000.00 1.900TOYOTA 791.67 0.00 791.671.865101499,750.0089236TCZ6 0.00 248,000.001205248,000.00 2.000AMRNTL 421.26 0.00 421.262.000101248,000.0002772JBD1 0.00 495,950.001206500,000.00 1.750FNMA 729.16 0.00 729.161.731101495,950.003135G0V75 0.00 248,000.001207248,000.00 1.950ABACUS 410.73 0.00 410.731.950101248,000.0000257TBD7 0.00 248,000.001208248,000.00 2.000LKSIDE 421.26 0.00 421.262.000101248,000.0051210SQU4 0.00 248,000.001209248,000.00 2.0001STSEC 421.26 0.00 421.262.000101248,000.0033625CCP2 0.00 248,000.001210248,000.00 2.000PEOPLE 421.26 0.00 421.262.000101248,000.00710571DS6 0.00 248,000.001211248,000.00 2.100NFNITY 442.32 0.00 442.322.100101248,000.0045667EDY1 0.00 499,500.001212500,000.00 1.850FFCB 745.14 0.00 745.141.8151010.003133EKWV4 0.00 249,000.001213249,000.00 2.000PREFRD 204.66 0.00 204.662.0001010.00740367HP5 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 5 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest August 1, 2019 - August 31, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 248,000.001214248,000.00 2.000UNTDCU 122.30 0.00 122.302.0001010.00910160AH3 0.00 248,000.001215248,000.00 2.000WSHFED 108.71 0.00 108.712.0001010.00938828BH2 0.00 249,000.001216249,000.00 1.9501STIER 106.42 0.00 106.421.9501010.0033766LAJ7 0.00 499,300.001217500,000.00 1.375USTR 206.63 0.00 206.631.3731010.00912828T26 0.00 244,000.001218244,000.00 1.950RAYJAM 117.32 0.00 117.321.9501010.0075472RAD3 0.00 245,000.001219245,000.00 1.900CITBNK 114.78 0.00 114.781.9001010.0012556LBA3 0.00 248,000.001220248,000.00 1.850CELTIC 12.57 0.00 12.571.8501010.0015118RRH2 0.00 249,000.001221249,000.00 1.8501STNBS 12.62 0.00 12.621.8501010.00334342CD2 0.00 248,000.001222248,000.00 1.8001STDQN 12.23 0.00 12.231.8001010.00336460CX6 0.00 500,005.001228500,005.00BOTW 0.01 0.00 0.011010.00059731851 0.00 6,551,037.9212306,551,037.92PARS 0.00 0.00 0.001010.00SYS1230 0.00 131,088,431.06Subtotal 130,835,863.56 1.778 204,319.130.00192,944.13144,297,790.59 11,375.00 Fund: Fiscal Agent 13,120,363.58105813,120,363.58USBANK 2.42 0.00 2.420.0072311,676.13SYS1058 0.00 13,120,363.58Subtotal 13,120,363.58 0.007 2.420.002.421,676.13 0.00 Fund: Housing Authority : WSA and LQ 221,909.051062221,909.05LQPR 0.00 0.00 0.00241217,962.35SYS1062 0.00 221,909.05Subtotal 221,909.05 0.000.000.00217,962.35 0.00 Fund: SA Low/Mod Bond Fund 16,468,417.85111316,468,417.85 2.341LAIF 34,214.13 0.00 34,214.132.44624916,468,417.8525-33-005 0.00 16,468,417.85Subtotal 16,468,417.85 2.446 34,214.130.0034,214.1316,468,417.85 0.00 160,899,121.54Total 160,646,554.04 1.843 238,535.680.00227,160.68160,985,846.92 11,375.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1Bank of the West1228 1,634,538.12 1,634,538.1208/20/2019 1,634,538.12 1059731851 0.000 1City Petty Cash1059 3,300.00 3,300.0007/01/2016 3,300.00 1SYS1059 0.000 1La Quinta Palms Realty1062 223,494.34 223,494.3407/01/2016 223,494.34 1SYS1062 0.000 1Stifel, Nicolaus & Company1183 389.67 389.6703/18/2019 389.67 1SYS1183 0.000 1Wells Fargo1057 1,844,589.44 1,844,589.4407/01/2016 1,844,589.44 14159282482 0.000 3,706,311.57 13,706,311.573,706,311.574,289,857.27Subtotal and Average 1 0.000 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 33,837,943.78 33,837,943.78 2.28033,936,381.01 198-33-434 2.280 33,837,943.78 133,936,381.0133,837,943.7832,971,277.11Subtotal and Average 1 2.280 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 16,468,417.85 16,468,417.85 2.28016,496,429.33 125-33-005 2.280 16,468,417.85 116,496,429.3316,468,417.8516,468,417.85Subtotal and Average 1 2.280 Money Market Accounts - CAMP 1California Asset Management Pr1153 20,651,035.28 20,651,035.2809/26/2018 20,651,035.28 1SYS1153 0.000 20,651,035.28 120,651,035.2820,651,035.2820,614,666.30Subtotal and Average 1 0.000 Federal Agency Coupon Securities 118Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,998,280.00 1,0363135G0S53 1.700 220Federal Farm Credit Bank1142 500,000.00 491,750.00 05/08/20201.55005/31/2018 499,180.00 7083133EHJA2 2.427 346Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 997,820.00 1,0373130A66T9 1.741 391Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,487,400.00 1,4613130A9UQ2 1.375 575Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,484,150.00 1,8263130A7QZ1 1.423 575Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.50004/28/2016 2,499,175.00 1,8263134G8Y37 1.400 701Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 998,840.00 1,3923133EHWM1 1.913 820Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 1,000,450.00 1,6373134GBXF4 2.012 910Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 2,001,440.00 1,8263134GBAE2 2.106 1,030Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 1,000,290.00 1,8263134GBWG3 2.150 1,127Federal Farm Credit Bank1191 500,000.00 492,100.00 11/01/20221.70005/28/2019 498,145.00 1,2533133EGD28 2.181 1,168Federal Farm Credit Bank1198 500,000.00 499,500.00 12/12/20221.87506/20/2019 504,165.00 1,2713133EKQP4 1.905 1,413Federal Farm Credit Bank1223 500,000.00 499,400.00 08/14/20231.60009/12/2019 499,895.00 1,4323133EKZK5 1.632 1,435Federal Farm Credit Bank1158 250,000.00 247,275.00 09/05/20232.80010/15/2018 261,330.00 1,7863133EJYL7 3.041 1,596Federal Home Loan Bank1177 500,000.00 498,550.00 02/13/20242.50003/01/2019 518,945.00 1,8103130AFW94 2.563 Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Federal Agency Coupon Securities 1,736Federal National Mtg Assn1206 500,000.00 495,950.00 07/02/20241.75007/15/2019 502,850.00 1,8143135G0V75 1.922 1,760Federal Farm Credit Bank1212 500,000.00 499,500.00 07/26/20241.85008/02/2019 505,360.00 1,8203133EKWV4 1.871 1,813Federal Farm Credit Bank1224 500,000.00 498,750.00 09/17/20241.60009/17/2019 498,485.00 1,8273133EKP75 1.652 19,692,525.00 1,56019,756,200.0019,750,000.0019,771,161.67Subtotal and Average 738 1.759 Treasury Coupon Securities 75U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,497,375.00 1,000912828U73 1.513 182U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,493,850.00 1,107912828J84 1.602 212U.S. Treasury1138 500,000.00 488,250.00 04/30/20201.12505/31/2018 497,870.00 700912828VA5 2.387 319U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 997,030.00 9369128282Q2 2.071 608U.S. Treasury1193 500,000.00 493,610.00 05/31/20211.37505/31/2019 497,190.00 731912828R77 2.030 638U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,950,400.00 1,808912828S27 1.125 761U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,983,760.00 1,679912828T67 1.903 957U.S. Treasury1192 500,000.00 496,650.00 05/15/20221.75005/31/2019 502,030.00 1,080912828SV3 1.984 1,095U.S. Treasury1178 500,000.00 489,687.50 09/30/20221.87503/01/2019 504,435.00 1,3099128282W9 2.480 1,460U.S. Treasury1217 500,000.00 499,300.00 09/30/20231.37508/21/2019 496,330.00 1,501912828T26 1.410 15,370,097.50 1,37215,420,270.0015,500,000.0015,370,097.50Subtotal and Average 505 1.573 Certificate of Deposits 48Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 244,960.80 73261747MA92 1.800 48Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 244,943.65 73261760AEP0 1.750 51First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 239,911.20 853320165HX4 1.653 112Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 239,832.00 916259744DS6 1.655 203Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 239,695.20 1,096857894TC3 1.588 224Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 244,892.20 915472376AC6 1.751 248EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 247,811.52 1,82729976DXX3 1.702 253Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 245,235.20 1,827140420RX0 1.902 255Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 247,727.20 1,827063615AVO 1.652 258Wex Bank1145 245,000.00 245,000.00 06/15/20202.75006/13/2018 246,621.90 73392937CHG6 2.754 280Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 239,901.60 1,09658740XZL7 1.752 286First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 239,901.60 1,096319141GT8 1.752 384First Tech Federal Credit Unio1124 245,000.00 245,000.00 10/19/20202.70004/18/2018 247,298.10 91533715LBJ8 2.623 419First Bank Richmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 244,997.55 1,251319267GC8 1.802 448Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 245,739.90 1,09635638BAA9 2.052 471Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 240,000.00 1,28006610RAP4 1.804 475Farm Bureau Bank1165 248,000.00 248,000.00 01/18/20213.00012/17/2018 251,821.68 763307660LC2 2.898 Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 477Eagle Bank1146 245,000.00 245,000.00 01/20/20212.85007/20/2018 248,317.30 91527002YDV5 2.858 489Infinty FCU1211 248,000.00 248,000.00 02/01/20212.10007/31/2019 248,982.08 55145667EDY1 2.110 510Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 239,668.80 1,82720033APG5 1.702 524Ally Bank Midvale1176 245,000.00 245,000.00 03/08/20212.50003/07/2019 247,432.85 73202007GHX4 2.016 532Unity Bank1120 245,000.00 245,000.00 03/16/20212.55003/16/2018 247,648.45 1,09691330ABN6 2.552 566Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 241,341.60 1,46102587DP85 2.252 577Towne Bank1128 240,000.00 240,000.00 04/30/20212.80004/30/2018 243,727.20 1,09689214PBL2 2.803 603PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 239,217.60 1,82674267GVG9 1.501 615Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 241,785.60 1,46114042RGD7 2.252 652Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 240,211.20 1,46115523RBJ4 1.851 685General Electric Credit Union1150 240,000.00 240,000.00 08/16/20213.10008/15/2018 245,757.60 1,097369674AV8 3.100 727New York Community Bank1226 245,000.00 245,000.00 09/27/20211.80009/27/2019 245,000.00 731649447TC3 1.802 756Northpointe Bank1127 240,000.00 240,000.00 10/26/20212.70004/26/2018 244,387.20 1,279666613GV0 2.703 778First Source Bank1168 245,000.00 245,000.00 11/17/20213.15012/17/2018 251,909.00 1,06633646CKP8 3.153 783Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 246,536.15 1,462080515CD9 2.101 783TNB Bank1187 248,000.00 248,000.00 11/22/20212.40005/22/2019 251,119.84 91587266AAA1 2.407 812Neighbors FCU1167 245,000.00 245,000.00 12/21/20213.20012/21/2018 252,438.20 1,09664017AAQ7 3.203 813United Credit Union1214 248,000.00 248,000.00 12/22/20212.00008/22/2019 249,066.40 853910160AH3 2.003 841The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 240,520.80 1,645677721CN0 1.903 853Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 248,888.15 1,46288413QBY3 2.502 854Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 242,443.20 1,8262546722U1 2.251 877BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 242,222.40 1,82605580AGK4 2.201 881Maine Savings FCU1171 248,000.00 248,000.00 02/28/20223.30012/28/2018 256,742.00 1,158560507AK1 3.306 899Luana Savings Bank1225 245,000.00 245,000.00 03/18/20221.60009/18/2019 243,787.25 912549104JN8 1.599 938Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 243,561.60 1,82638148PJK4 2.401 941Farmers Insurance Group FCU1126 240,000.00 240,000.00 04/29/20222.80004/30/2018 246,012.00 1,46030960QAG2 2.802 959Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 246,839.95 1,64250116CBE8 2.099 975Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 243,691.20 1,82687164XQV1 2.401 981PCSB Bank1149 245,000.00 245,000.00 06/08/20223.00006/08/2018 252,658.70 1,46169324MAD7 3.002 986Allegiance Bank1143 245,000.00 245,000.00 06/13/20223.10006/13/2018 253,315.30 1,46101748DBE5 3.102 994Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 243,439.20 1,826795450A70 2.351 1,001America's Credit Union1200 248,000.00 248,000.00 06/28/20222.30006/28/2019 248,982.57 1,09603065AAL7 2.302 1,017HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 240,254.40 1,82640434YLE5 2.301 1,042Traditions Bank1148 245,000.00 245,000.00 08/08/20223.00006/08/2018 253,107.05 1,52289269CBX9 3.002 1,057CIT Bank NA1219 245,000.00 245,000.00 08/23/20221.90008/23/2019 245,614.95 1,09612556LBA3 1.902 1,063American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 242,980.80 1,82602587CFU9 2.402 Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,063Sterling Bank1201 245,000.00 245,000.00 08/29/20222.15006/28/2019 247,352.00 1,15885916VDC6 2.153 1,108Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 248,145.80 1,82601859BAA3 2.251 1,120Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 243,460.80 1,82606740KLJ4 2.291 1,123Merrick Bank1163 248,000.00 248,000.00 10/28/20223.25010/30/2018 258,654.08 1,45959013J4K2 3.252 1,134Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 248,577.00 1,82662384RAC0 2.301 1,144CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 247,856.70 1,82422766ACB9 2.201 1,154Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 247,496.55 1,82629367QCP1 2.151 1,163Medallion Bank1169 248,000.00 248,000.00 12/07/20223.40012/07/2018 260,127.20 1,46158404DCX7 3.402 1,163Red Rocks Credit Union1166 248,000.00 248,000.00 12/07/20223.35012/07/2018 259,745.28 1,46175701LAB3 3.352 1,185Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 249,466.35 1,826499724AB8 2.401 1,246Verus Bank of Commerce1180 248,000.00 248,000.00 02/28/20232.70002/28/2019 255,147.36 1,46192535LCD4 2.700 1,268Aneca Federal Credit Union1119 245,000.00 245,000.00 03/22/20232.80003/22/2018 252,984.55 1,826034577AH9 2.802 1,288Citibank NA1123 245,000.00 245,000.00 04/11/20232.90004/11/2018 253,905.75 1,82617312QJ26 2.902 1,305Congressional Bank1189 248,000.00 248,000.00 04/28/20232.50004/30/2019 253,721.36 1,45920726ABA5 2.502 1,305EnerBank USA1125 240,000.00 240,000.00 04/28/20232.95004/30/2018 249,276.00 1,82429278TAY6 2.952 1,312First National Bank1179 248,000.00 248,000.00 05/05/20232.80003/05/2019 256,327.84 1,52232117BCX4 2.802 1,322University of Iowa Comm. CU1134 240,000.00 240,000.00 05/15/20233.05005/14/2018 250,214.40 1,82791435LAG2 3.052 1,345Pittsfield Cooperative Bank1194 245,000.00 245,000.00 06/07/20232.50006/07/2019 250,755.05 1,461725404AB3 2.502 1,358Morton Community1173 248,000.00 248,000.00 06/20/20232.75003/20/2019 256,119.52 1,553619165JD6 2.753 1,358RCB Bank1144 245,000.00 245,000.00 06/20/20233.15006/20/2018 256,544.40 1,82674934YAH4 3.152 1,387American National Bank1205 248,000.00 248,000.00 07/19/20232.00007/19/2019 249,433.44 1,46102772JBD1 2.001 1,388First National Bank of America1147 245,000.00 245,000.00 07/20/20233.15007/20/2018 256,764.90 1,82632110YLK9 3.152 1,399Bank of New England1151 249,000.00 249,000.00 07/31/20233.25007/31/2018 261,960.45 1,82606426KAN8 3.252 1,422Raymond James Bank1218 244,000.00 244,000.00 08/23/20231.95008/23/2019 244,949.16 1,46175472RAD3 1.951 1,477Marlin Business Bank1155 248,000.00 248,000.00 10/17/20233.30010/17/2018 261,964.88 1,82657116ARV2 3.302 1,477Municipal Trust and Savings1160 245,000.00 245,000.00 10/17/20233.20010/17/2018 257,842.90 1,826625925AR3 3.202 1,477UBS Bank USA1161 245,000.00 245,000.00 10/17/20233.35010/17/2018 259,273.70 1,82690348JEJ5 3.352 1,479Jefferson Financial CU1154 245,000.00 245,000.00 10/19/20233.35010/19/2018 259,232.05 1,826474067AQ8 3.352 1,506Commercial Bank1162 248,000.00 248,000.00 11/15/20233.40011/15/2018 263,128.00 1,82620143PDV9 3.402 1,519Numerica Credit Union1164 248,000.00 248,000.00 11/28/20233.55011/28/2018 264,705.28 1,82667054NAN3 3.552 1,542National Cooperative Bank, N.A1170 245,000.00 245,000.00 12/21/20233.40012/21/2018 260,138.55 1,826635573AL2 3.402 1,550Bar Harbor Bank and Trust1172 248,000.00 248,000.00 12/29/20233.35012/31/2018 262,934.56 1,824066851WJ1 3.352 1,581Lakeside Bank1208 248,000.00 248,000.00 01/29/20242.00007/30/2019 249,205.28 1,64451210SQU4 2.003 1,596Northwest Bank1181 248,000.00 248,000.00 02/13/20242.95002/13/2019 259,045.92 1,82666736ABP3 2.951 1,610Wells Fargo1174 248,000.00 248,000.00 02/27/20243.00002/27/2019 258,046.48 1,826949763XY7 3.001 1,669Main Street Bank1188 248,000.00 248,000.00 04/26/20242.60004/26/2019 255,519.36 1,82756065GAG3 2.603 Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 Days to Maturity Page 5 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 1,689Century Next Bank1184 248,000.00 248,000.00 05/16/20242.50005/29/2019 254,455.44 1,814156634AK3 2.503 1,689JP Morgan Chase1185 245,000.00 245,000.00 05/16/20243.25005/16/2019 240,761.50 1,82748128HXU7 3.254 1,696Iowa State Bank1186 245,000.00 245,000.00 05/23/20242.40005/23/2019 250,265.05 1,82746256YAZ2 2.403 1,711Plains Commerce Bank1195 245,000.00 245,000.00 06/07/20242.55006/07/2019 251,901.65 1,82772651LCL6 2.553 1,716Evansville Teachers Credit FCU1196 248,000.00 248,000.00 06/12/20242.60006/12/2019 255,573.92 1,827299547AQ2 2.603 1,723Legacy Bank1197 248,000.00 248,000.00 06/19/20242.40006/19/2019 253,346.88 1,827524661CB9 2.403 1,725Citizens State Bank1199 248,000.00 248,000.00 06/21/20242.40006/21/2019 253,346.88 1,827176688CP2 2.403 1,732Communitywide FCU1202 248,000.00 248,000.00 06/28/20242.25006/28/2019 251,653.04 1,82720416TAQ5 2.253 1,732Revere Bank1203 247,000.00 247,000.00 06/28/20242.30006/28/2019 251,186.65 1,827761402BY1 2.303 1,760Abacus Federal Savings1207 248,000.00 248,000.00 07/26/20241.95007/26/2019 248,205.84 1,82700257TBD7 1.952 1,764First Security Bank1209 248,000.00 248,000.00 07/30/20242.00007/30/2019 248,766.32 1,82733625CCP2 2.002 1,765People's Bank1210 248,000.00 248,000.00 07/31/20242.00007/31/2019 248,763.84 1,827710571DS6 2.002 1,781Preferred Bank1213 249,000.00 249,000.00 08/16/20242.00008/16/2019 249,722.10 1,827740367HP5 2.002 1,788FirsTier Bank1216 249,000.00 249,000.00 08/23/20241.95008/23/2019 249,119.52 1,82733766LAJ7 1.952 1,788Washington Federal1215 248,000.00 248,000.00 08/23/20242.00008/23/2019 248,699.36 1,827938828BH2 2.002 1,795First State Bk DeQueen1222 248,000.00 248,000.00 08/30/20241.80008/30/2019 246,355.76 1,827336460CX6 1.802 1,795First Natl Bk of Syracuse1221 249,000.00 249,000.00 08/30/20241.85008/30/2019 247,931.79 1,827334342CD2 1.852 1,795Celtic Bank1220 248,000.00 248,000.00 08/30/20241.85008/30/2019 246,936.08 1,82715118RRH2 1.852 1,823BankWest Inc1227 248,000.00 248,000.00 09/27/20241.70009/27/2019 245,063.68 1,82706652CHB0 1.702 26,455,000.00 1,51626,922,978.0926,455,000.0025,913,700.00Subtotal and Average 1,069 2.433 Corporate Notes 17Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 499,875.00 71089236TDH5 1.681 128Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 499,760.00 745594918BV5 2.081 555Toyota Motor Credit Corp1204 500,000.00 499,750.00 04/08/20211.90006/24/2019 500,135.00 65489236TCZ6 1.928 673Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 497,540.00 1,514037833CC2 1.900 859Proctor and Gamble1159 500,000.00 487,950.00 02/06/20222.30010/15/2018 507,220.00 1,210742718DY2 3.071 1,171Wal-Mart Stores, Inc1190 500,000.00 496,650.00 12/15/20222.35004/16/2019 507,050.00 1,339931142DU4 2.799 1,219Colgate-Palmolive1175 500,000.00 485,250.00 02/01/20231.95003/04/2019 501,020.00 1,43019416QEA4 2.751 1,407Microsoft Corporation1157 400,000.00 378,360.00 08/08/20232.00010/15/2018 402,852.00 1,758594918BQ6 3.222 3,837,460.00 1,1503,915,452.003,900,000.003,837,460.00Subtotal and Average 731 2.402 Money Market with Fiscal Agent 1US Bank1058 7,143.88 7,143.8807/01/2016 7,143.88 1SYS1058 0.000 7,143.88 17,143.887,143.8812,683,256.26Subtotal and Average 1 0.000 Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 Days to Maturity Page 6 Par Value Book Value Maturity Date Stated RateMarket Value September 30, 2019 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date CERBT - OPEB Trust 1CalPERS CERBT Plan1114 1,658,975.81 1,658,975.8107/01/2019 1,658,975.81 1SYS1114 0.000 1,658,975.81 11,658,975.811,658,975.811,628,220.53Subtotal and Average 1 0.000 PARS Pension Trust 1Pblc Agncy Rtrmnt Serv1230 6,547,560.90 6,547,560.9008/01/2019 6,547,560.90 1SYS1230 0.000 6,547,560.90 16,547,560.906,547,560.906,550,922.02Subtotal and Average 1 0.000 650160,099,036.50 148,482,389.07 361 1.667149,018,737.87 148,232,471.57Total and Average Portfolio CITY CP Run Date: 11/06/2019 - 14:32 PM (PRF_PM2) 7.3.0 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund September 1, 2019 - September 30, 2019 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 248,000.001002248,000.00 1.650MIDWES 336.33 0.00 336.331.650101248,000.00063615AVO 0.00 245,000.001006245,000.00 1.900CAPONE 382.60 0.00 382.601.900101245,000.00140420RX0 0.00 240,000.001009240,000.00 1.700CCBA 335.34 0.00 335.341.700101240,000.0020033APG5 0.00 248,000.001017248,000.00 1.700EVRBA 346.52 0.00 346.521.700101248,000.0029976DXX3 0.00 240,000.001032240,000.00 1.500PRVTBA 295.89 0.00 295.891.500101240,000.0074267GVG9 0.00 0.0010340.00 1.400RVRW 38.05 0.00 38.051.400101248,000.0076951DAL4 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,585.59 0.00 4,585.591.1161015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.3741012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.500FHLMC 3,125.00 0.00 3,125.001.5211012,500,000.003134G8Y37 0.00 33,837,943.78105533,837,943.78 2.280LAIF 66,241.72 0.00 66,241.722.44410132,837,943.7898-33-434 0.00 1,844,589.4410571,844,589.44WELLS 0.01 0.00 0.011013,851,244.334159282482 0.00 3,300.0010593,300.00CITYPC 0.00 0.00 0.001013,300.00SYS1059 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.59 0.00 2,864.591.3941012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 443.83 0.00 443.832.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 433.97 0.00 433.972.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,817.62 0.00 2,817.621.3801012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,817.62 0.00 2,817.621.3761012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 2,038.05 0.00 2,038.051.2761011,942,800.00912828T67 0.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.33 0.00 2,833.331.7241012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.33 0.00 3,333.332.0381011,990,000.003134GBAE2 0.00 240,000.001076240,000.00 1.600STRNS 315.62 0.00 315.621.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 443.84 0.00 443.842.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 473.42 0.00 473.422.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.83 0.00 645.831.594101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 473.43 0.00 473.432.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 362.46 0.00 362.461.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 443.83 0.00 443.832.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 463.56 0.00 463.562.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.67 0.00 1,666.672.029101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 364.94 0.00 364.941.850101240,000.0015523RBJ4 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:52 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest September 1, 2019 - September 30, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001086240,000.00 1.800BNKRS 355.06 0.00 355.061.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 345.21 0.00 345.211.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 453.70 0.00 453.702.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 374.79 0.00 374.791.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.66 0.00 1,791.662.1801011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 325.48 0.00 325.481.650101240,000.00320165HX4 0.00 240,000.001093240,000.00 1.650DOUGLS 325.48 0.00 325.481.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 345.21 0.00 345.211.750101240,000.00319141GT8 0.00 245,000.001095245,000.00 2.250ALLIAN 453.09 0.00 453.092.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 473.43 0.00 473.432.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 453.70 0.00 453.702.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.84 0.00 645.841.575101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 463.15 0.00 463.152.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 352.39 0.00 352.391.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 422.88 0.00 422.882.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 422.87 0.00 422.872.100101245,000.00080515CD9 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.17 0.00 1,354.171.653101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.67 0.00 1,416.671.737101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 443.02 0.00 443.022.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 432.94 0.00 432.942.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 352.40 0.00 352.401.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 362.47 0.00 362.471.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 483.29 0.00 483.292.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 412.81 0.00 412.812.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 503.42 0.00 503.422.500101245,000.0088413QBY3 0.00 1,658,975.8111141,658,975.81CALPRS 0.00 0.00 0.001011,627,160.00SYS1114 0.00 985,800.0011171,000,000.00 1.500USTR 1,222.83 0.00 1,222.831.509101985,800.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 770.83 0.00 770.831.884101497,700.00594918BV5 0.00 245,000.001119245,000.00 2.800ANECA 563.83 0.00 563.832.800101245,000.00034577AH9 0.00 245,000.001120245,000.00 2.550UNITY 513.49 0.00 513.492.550101245,000.0091330ABN6 0.00 245,000.001123245,000.00 2.900CITINA 583.98 0.00 583.982.900101245,000.0017312QJ26 0.00 245,000.001124245,000.00 2.7001STTCH 543.70 0.00 543.702.700101245,000.0033715LBJ8 0.00 240,000.001125240,000.00 2.950ENER 581.92 0.00 581.922.950101240,000.0029278TAY6 0.00 240,000.001126240,000.00 2.800FARMIG 552.33 0.00 552.332.800101240,000.0030960QAG2 0.00 240,000.001127240,000.00 2.700NORPNT 532.61 0.00 532.612.700101240,000.00666613GV0 0.00 240,000.001128240,000.00 2.800TOWNE 552.33 0.00 552.332.800101240,000.0089214PBL2 0.00 240,000.001134240,000.00 3.050UOFICU 601.65 0.00 601.653.050101240,000.0091435LAG2 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:52 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest September 1, 2019 - September 30, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 488,250.001138500,000.00 1.125USTR 458.56 0.00 458.561.143101488,250.00912828VA5 0.00 0.0011390.00 1.750FNMA 267.36 0.00 3,567.361.786101496,700.003135G0ZG1 3,300.00 491,750.001142500,000.00 1.550FFCB 645.83 0.00 645.831.598101491,750.003133EHJA2 0.00 245,000.001143245,000.00 3.100ALLGNC 624.24 0.00 624.243.100101245,000.0001748DBE5 0.00 245,000.001144245,000.00 3.150RCB 634.31 0.00 634.313.150101245,000.0074934YAH4 0.00 245,000.001145245,000.00 2.750WEX 553.77 0.00 553.772.750101245,000.0092937CHG6 0.00 245,000.001146245,000.00 2.850EAGLE 573.90 0.00 573.902.850101245,000.0027002YDV5 0.00 245,000.001147245,000.00 3.1501STNBA 634.32 0.00 634.323.150101245,000.0032110YLK9 0.00 245,000.001148245,000.00 3.000TRAD 604.11 0.00 604.113.000101245,000.0089269CBX9 0.00 245,000.001149245,000.00 3.000PCSB 604.11 0.00 604.113.000101245,000.0069324MAD7 0.00 240,000.001150240,000.00 3.100GECRUN 611.51 0.00 611.513.100101240,000.00369674AV8 0.00 249,000.001151249,000.00 3.250NWENGL 665.14 0.00 665.143.250101249,000.0006426KAN8 0.00 20,651,035.28115320,651,035.28CAMP 0.01 0.00 0.0110120,613,412.20SYS1153 0.00 245,000.001154245,000.00 3.350JEFF 674.59 0.00 674.593.350101245,000.00474067AQ8 0.00 248,000.001155248,000.00 3.300MARBUS 672.66 0.00 672.663.300101248,000.0057116ARV2 0.00 0.0011560.00 3.000FHLMC 866.67 0.00 2,066.673.051101398,800.003134GSWS0 1,200.00 378,360.001157400,000.00 2.000MCRSFT 666.67 0.00 666.672.144101378,360.00594918BQ6 0.00 247,275.001158250,000.00 2.800FFCB 583.34 0.00 583.342.870101247,275.003133EJYL7 0.00 487,950.001159500,000.00 2.300P&G 958.33 0.00 958.332.390101487,950.00742718DY2 0.00 245,000.001160245,000.00 3.200MUNTRS 644.38 0.00 644.383.200101245,000.00625925AR3 0.00 245,000.001161245,000.00 3.350UBS 674.59 0.00 674.593.350101245,000.0090348JEJ5 0.00 248,000.001162248,000.00 3.400COMMBK 693.04 0.00 693.043.400101248,000.0020143PDV9 0.00 248,000.001163248,000.00 3.250MRRCK 662.46 0.00 662.463.250101248,000.0059013J4K2 0.00 248,000.001164248,000.00 3.550NMRCA 723.62 0.00 723.623.550101248,000.0067054NAN3 0.00 248,000.001165248,000.00 3.000FARMBU 611.50 0.00 611.503.000101248,000.00307660LC2 0.00 248,000.001166248,000.00 3.350REDRCK 682.85 0.00 682.853.350101248,000.0075701LAB3 0.00 245,000.001167245,000.00 3.200NEIGH 644.38 0.00 644.383.200101245,000.0064017AAQ7 0.00 245,000.001168245,000.00 3.1501STSRC 634.31 0.00 634.313.150101245,000.0033646CKP8 0.00 248,000.001169248,000.00 3.400MEDBA 693.04 0.00 693.043.400101248,000.0058404DCX7 0.00 245,000.001170245,000.00 3.400NLCOOP 684.65 0.00 684.653.400101245,000.00635573AL2 0.00 248,000.001171248,000.00 3.300MAINE 672.66 0.00 672.663.300101248,000.00560507AK1 0.00 248,000.001172248,000.00 3.350BARHAR 682.85 0.00 682.853.350101248,000.00066851WJ1 0.00 248,000.001173248,000.00 2.750MORTN 560.55 0.00 560.552.750101248,000.00619165JD6 0.00 248,000.001174248,000.00 3.000WELLS 611.51 0.00 611.513.000101248,000.00949763XY7 0.00 485,250.001175500,000.00 1.950COLGTE 812.50 0.00 812.502.037101485,250.0019416QEA4 0.00 245,000.001176245,000.00 2.500ALLY 503.42 0.00 503.422.500101245,000.0002007GHX4 0.00 498,550.001177500,000.00 2.500FHLB 1,041.66 0.00 1,041.662.542101498,550.003130AFW94 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:52 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest September 1, 2019 - September 30, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 489,687.501178500,000.00 1.875USTR 768.44 0.00 768.441.909101489,687.509128282W9 0.00 248,000.001179248,000.00 2.8001STNBK 570.74 0.00 570.742.800101248,000.0032117BCX4 0.00 248,000.001180248,000.00 2.700VERUS 550.35 0.00 550.352.700101248,000.0092535LCD4 0.00 248,000.001181248,000.00 2.950NRTHWS 601.32 0.00 601.322.950101248,000.0066736ABP3 0.00 389.671183389.67STIFEL 78.47 0.00 78.47-0.37110189,327.83SYS1183 0.00 248,000.001184248,000.00 2.500CENTNX 509.59 0.00 509.592.500101248,000.00156634AK3 0.00 245,000.001185245,000.00 3.250JPMORG 654.45 0.00 654.453.250101245,000.0048128HXU7 0.00 245,000.001186245,000.00 2.400IOWAST 483.29 0.00 483.292.400101245,000.0046256YAZ2 0.00 248,000.001187248,000.00 2.400TSCOLA 489.21 0.00 489.212.400101248,000.0087266AAA1 0.00 248,000.001188248,000.00 2.600MAINST 529.97 0.00 529.972.600101248,000.0056065GAG3 0.00 248,000.001189248,000.00 2.500CONGRS 509.58 0.00 509.582.500101248,000.0020726ABA5 0.00 496,650.001190500,000.00 2.350WALMRT 979.16 0.00 979.162.399101496,650.00931142DU4 0.00 492,100.001191500,000.00 1.700FFCB 708.34 0.00 708.341.751101492,100.003133EGD28 0.00 496,650.001192500,000.00 1.750USTR 713.32 0.00 713.321.747101496,650.00912828SV3 0.00 493,610.001193500,000.00 1.375USTR 563.52 0.00 563.521.389101493,610.00912828R77 0.00 245,000.001194245,000.00 2.500PITTS 503.43 0.00 503.432.500101245,000.00725404AB3 0.00 245,000.001195245,000.00 2.550PLAINS 513.50 0.00 513.502.550101245,000.0072651LCL6 0.00 248,000.001196248,000.00 2.600EVNSCU 529.97 0.00 529.972.600101248,000.00299547AQ2 0.00 248,000.001197248,000.00 2.400LEGCY 489.21 0.00 489.212.400101248,000.00524661CB9 0.00 499,500.001198500,000.00 1.875FFCB 781.25 0.00 781.251.903101499,500.003133EKQP4 0.00 248,000.001199248,000.00 2.400CTZNST 489.20 0.00 489.202.400101248,000.00176688CP2 0.00 248,000.001200248,000.00 2.300AMERCU 468.83 0.00 468.832.300101248,000.0003065AAL7 0.00 245,000.001201245,000.00 2.150STRLNG 432.94 0.00 432.942.150101245,000.0085916VDC6 0.00 248,000.001202248,000.00 2.250COMMW 458.63 0.00 458.632.250101248,000.0020416TAQ5 0.00 247,000.001203247,000.00 2.300REVER 466.94 0.00 466.942.300101247,000.00761402BY1 0.00 499,750.001204500,000.00 1.900TOYOTA 791.67 0.00 791.671.927101499,750.0089236TCZ6 0.00 248,000.001205248,000.00 2.000AMRNTL 407.67 0.00 407.672.000101248,000.0002772JBD1 0.00 495,950.001206500,000.00 1.750FNMA 729.17 0.00 729.171.789101495,950.003135G0V75 0.00 248,000.001207248,000.00 1.950ABACUS 397.47 0.00 397.471.950101248,000.0000257TBD7 0.00 248,000.001208248,000.00 2.000LKSIDE 407.67 0.00 407.672.000101248,000.0051210SQU4 0.00 248,000.001209248,000.00 2.0001STSEC 407.67 0.00 407.672.000101248,000.0033625CCP2 0.00 248,000.001210248,000.00 2.000PEOPLE 407.67 0.00 407.672.000101248,000.00710571DS6 0.00 248,000.001211248,000.00 2.100NFNITY 428.06 0.00 428.062.100101248,000.0045667EDY1 0.00 499,500.001212500,000.00 1.850FFCB 770.83 0.00 770.831.878101499,500.003133EKWV4 0.00 249,000.001213249,000.00 2.000PREFRD 409.31 0.00 409.312.000101249,000.00740367HP5 0.00 248,000.001214248,000.00 2.000UNTDCU 407.67 0.00 407.672.000101248,000.00910160AH3 0.00 248,000.001215248,000.00 2.000WSHFED 407.67 0.00 407.672.000101248,000.00938828BH2 0.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:52 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 Current Rate Ending Par Value Ending Fund Page 5 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest September 1, 2019 - September 30, 2019 Total Earnings City of La Quinta Annualized YieldCUSIPInvestment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 249,000.001216249,000.00 1.9501STIER 399.08 0.00 399.081.950101249,000.0033766LAJ7 0.00 499,300.001217500,000.00 1.375USTR 563.52 0.00 563.521.373101499,300.00912828T26 0.00 244,000.001218244,000.00 1.950RAYJAM 391.07 0.00 391.071.950101244,000.0075472RAD3 0.00 245,000.001219245,000.00 1.900CITBNK 382.60 0.00 382.601.900101245,000.0012556LBA3 0.00 248,000.001220248,000.00 1.850CELTIC 377.10 0.00 377.101.850101248,000.0015118RRH2 0.00 249,000.001221249,000.00 1.8501STNBS 378.62 0.00 378.621.850101249,000.00334342CD2 0.00 248,000.001222248,000.00 1.8001STDQN 366.90 0.00 366.901.800101248,000.00336460CX6 0.00 499,400.001223500,000.00 1.600FFCB 422.22 0.00 422.221.6241010.003133EKZK5 0.00 498,750.001224500,000.00 1.600FFCB 311.11 0.00 311.111.6261010.003133EKP75 0.00 245,000.001225245,000.00 1.600LUANA 139.62 0.00 139.621.6001010.00549104JN8 0.00 245,000.001226245,000.00 1.800NYCMBK 48.33 0.00 48.331.8001010.00649447TC3 0.00 248,000.001227248,000.00 1.700BNKWST 34.65 0.00 34.651.7001010.0006652CHB0 0.00 1,634,538.1212281,634,538.12BOTW 0.01 0.00 0.01101500,005.00059731851 0.00 6,547,560.9012306,547,560.90PARS 0.00 0.00 0.001016,551,037.92SYS1230 0.00 131,783,333.00Subtotal 131,533,415.50 1.621 174,184.530.00169,684.53130,835,863.56 4,500.00 Fund: Fiscal Agent 7,143.8810587,143.88USBANK 7,141.46 0.00 7,141.460.68523113,120,363.58SYS1058 0.00 7,143.88Subtotal 7,143.88 0.685 7,141.460.007,141.4613,120,363.58 0.00 Fund: Housing Authority : WSA and LQ 223,494.341062223,494.34LQPR 0.00 0.00 0.00241221,909.05SYS1062 0.00 223,494.34Subtotal 223,494.34 0.000.000.00221,909.05 0.00 Fund: SA Low/Mod Bond Fund 16,468,417.85111316,468,417.85 2.280LAIF 33,110.45 0.00 33,110.452.44624916,468,417.8525-33-005 0.00 16,468,417.85Subtotal 16,468,417.85 2.446 33,110.450.0033,110.4516,468,417.85 0.00 148,482,389.07Total 148,232,471.57 1.630 214,436.440.00209,936.44160,646,554.04 4,500.00 Portfolio CITY CP Run Date: 11/06/2019 - 14:52 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.1 City of La Quinta -City of La Quinta Maturity Report Sorted by Maturity Date Received or due during July 1, 2019 - September 30, 2019 Rate at MaturityPar Value Sec. TypeFund Maturity Date Maturity ProceedsInterest Income Net CUSIP Investment #Issuer Purchase Date Book Value at Maturity 1,000,000.00 1.080 1,005,400.005,400.0007/10/2017FFCB10923133EGLC7FAC10107/12/2019 12,800.00992,600.00 500,000.00 0.875 502,187.502,187.5005/31/2018FNMA11403135G0N33FAC10108/02/2019 10,187.50492,000.00 248,000.00 1.400 248,294.88294.8806/05/2015RVRW103476951DAL4MC110109/05/2019 294.88248,000.00 500,000.00 1.750 504,375.004,375.0005/31/2018FNMA11393135G0ZG1FAC10109/12/2019 7,675.00496,700.00 2,260,257.38Total Maturities 2,248,000.00 12,257.382,229,300.00 30,957.38 Portfolio CITY CP Run Date: 11/06/2019 - 14:48 MA (PRF_MA) 7.1.1 Report Ver. 7.3.6.1 City of La Quinta -City of La Quinta Sales/Call Report Sorted by Maturity Date - Fund July 1, 2019 - September 30, 2019 Redem. Date Redemption Principal Redemption Interest Book Value at Redem. Total Amount Net IncomeFundMatur. Date Rate at Redem. Par ValueSec. TypeCUSIPInvestment # Issuer Purchase Date 09/27/2022 400,000.00 398,800.00 400,000.00 6,000.0011563134GSWS009/27/2019 406,000.00 7,200.00101FHLMC FAC 09/27/2022 10/15/2018 3.000 Call Subtotal 398,800.00 400,000.00 6,000.00400,000.00 406,000.00 7,200.00 01/30/2023 1,000,000.00 1,000,000.00 1,000,000.00 12,750.0011163134GSCD507/30/2019 1,012,750.00 12,750.00101FHLMC FAC 01/30/2023 01/30/2018 2.550 Call Subtotal 1,000,000.00 1,000,000.00 12,750.001,000,000.00 1,012,750.00 12,750.00 02/23/2023 750,000.00 746,625.00 750,000.00 10,312.5011223134GSCQ608/23/2019 760,312.50 13,687.50101FHLMC FAC 02/23/2023 04/02/2018 2.750 Call Subtotal 746,625.00 750,000.00 10,312.50750,000.00 760,312.50 13,687.50 2,150,000.00Total Sales 2,150,000.00 29,062.502,145,425.00 2,179,062.50 33,637.50 Portfolio CITY CP Run Date: 11/06/2019 - 14:49 SA (PRF_SA) 7.1.1 Report Ver. 7.3.6.1 City of La Quinta -City of La Quinta Purchases Report Sorted by Fund - Fund July 1, 2019 - September 30, 2019 Original Par Value Ending Book Value Sec. TypeFund Maturity YTM Accrued Interest at PurchasePayment Periods DateCUSIPInvestment #Issuer Purchase Date Principal Purchased Rate at Purchase General Fund 1,627,510.76 1,658,975.811,627,510.7607/01/2019 12/31 - MonthlyCALPRS1114SYS1114LA2101 500,000.00 1.750 07/02/2024 495,950.00495,950.00 Received07/15/2019 1.92201/02 - 07/02FNMA12063135G0V75FAC101 248,000.00 2.000 07/19/2023 248,000.00248,000.0007/19/2019 2.00108/19 - MonthlyAMRNTL120502772JBD1MC1101 248,000.00 1.950 07/26/2024 248,000.00248,000.0007/26/2019 1.95208/26 - MonthlyABACUS120700257TBD7MC1101 248,000.00 2.000 07/30/2024 248,000.00248,000.0007/30/2019 2.00208/30 - Monthly1STSEC120933625CCP2MC1101 248,000.00 2.000 01/29/2024 248,000.00248,000.00 Received07/30/2019 2.00308/29 - MonthlyLKSIDE120851210SQU4MC1101 248,000.00 2.100 02/01/2021 248,000.00248,000.0007/31/2019 2.11009/01 - MonthlyNFNITY121145667EDY1MC1101 248,000.00 2.000 07/31/2024 248,000.00248,000.0007/31/2019 2.00208/31 - MonthlyPEOPLE1210710571DS6MC1101 0.00 6,547,560.900.0008/01/2019 08/31 - MonthlyPARS1230SYS1230LA3101 500,000.00 1.850 07/26/2024 499,500.00499,500.00 Received08/02/2019 1.87101/26 - 07/26FFCB12123133EKWV4FAC101 249,000.00 2.000 08/16/2024 249,000.00249,000.0008/16/2019 2.00209/16 - MonthlyPREFRD1213740367HP5MC1101 5.00 1,634,538.125.0008/20/2019 / - MonthlyBOTW1228059731851RRP101 500,000.00 1.375 09/30/2023 499,300.00499,300.00 Received08/21/2019 1.41009/30 - 03/31USTR1217912828T26TRC101 248,000.00 2.000 12/22/2021 248,000.00248,000.0008/22/2019 2.00309/22 - MonthlyUNTDCU1214910160AH3MC1101 249,000.00 1.950 08/23/2024 249,000.00249,000.0008/23/2019 1.95209/23 - Monthly1STIER121633766LAJ7MC1101 245,000.00 1.900 08/23/2022 245,000.00245,000.0008/23/2019 1.90202/23 - 08/23CITBNK121912556LBA3MC1101 244,000.00 1.950 08/23/2023 244,000.00244,000.0008/23/2019 1.95102/23 - 08/23RAYJAM121875472RAD3MC1101 248,000.00 2.000 08/23/2024 248,000.00248,000.0008/23/2019 2.00209/23 - MonthlyWSHFED1215938828BH2MC1101 248,000.00 1.800 08/30/2024 248,000.00248,000.0008/30/2019 1.80209/30 - Monthly1STDQN1222336460CX6MC1101 249,000.00 1.850 08/30/2024 249,000.00249,000.0008/30/2019 1.85209/30 - Monthly1STNBS1221334342CD2MC1101 248,000.00 1.850 08/30/2024 248,000.00248,000.0008/30/2019 1.85209/30 - MonthlyCELTIC122015118RRH2MC1101 500,000.00 1.600 08/14/2023 499,400.00499,400.00 Received09/12/2019 1.63202/14 - 08/14FFCB12233133EKZK5FAC101 500,000.00 1.600 09/17/2024 498,750.00498,750.0009/17/2019 1.65203/17 - 09/17FFCB12243133EKP75FAC101 245,000.00 1.600 03/18/2022 245,000.00245,000.0009/18/2019 1.59903/18 - 09/18LUANA1225549104JN8MC1101 248,000.00 1.700 09/27/2024 248,000.00248,000.0009/27/2019 1.70210/15 - MonthlyBNKWST122706652CHB0MC1101 245,000.00 1.800 09/27/2021 245,000.00245,000.0009/27/2019 1.80203/27 - 09/27NYCMBK1226649447TC3MC1101 Subtotal 16,787,974.838,574,415.76 0.008,581,515.76 8,574,415.76Total Purchases 8,581,515.76 0.00 16,787,974.83 Received = Accrued Interest at Purchase was received by report ending date. Portfolio CITY CP Run Date: 11/06/2019 - 14:47 PU (PRF_PU) 7.1.1 Report Ver. 7.3.6.1 US Treasury Rates https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yieldYear&year=2019 Commercial Paper Rates https://www.federalreserve.gov/releases/cp/rates.htm City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE FISCAL YEAR 2018/19 MEASURE G SALES TAX COMPLIANCE REPORT RECOMMENDATION Receive and file fiscal year 2018/19 Measure G Sales Tax Compliance Report. EXECUTIVE SUMMARY • Financial Advisory Commission (FAC) provides oversight of Measure G sales tax funds. • The FAC prepares an annual revenue and expenditure report to account for funds and ensure adherence to the ballot measure priorities. • Revenues for 2018/19 were $10,958,118 and the reserve balance as of June 30, 2019 was $7,721,975. FISCAL IMPACT - None BACKGROUND/ANALYSIS In accordance with the Measure G ballot measure, the FAC provides oversight of Measure G funds. This report was prepared by the Finance Department in conjunction with two FAC members (Commissioners Batavick and Hunter). The attached Annual Measure G Sales Tax Oversight Report for Period Ending June 30, 2019 (Attachment 1) covers the period from July 1, 2018 through June 30, 2019 (fiscal year 2018/19), provides a summary of the Measure G budget for fiscal year ending June 30, 2020 and includes an inception to date summary. ALTERNATIVES The FAC may request additional information. Prepared by: Karla Romero, Finance Director Attachment: 1. Annual Measure G Sales Tax Oversight Report for Period Ending June 30, 2019 BUSINESS SESSION ITEM NO. 1 MEASURE G BACKGROUND Voters passed Ballot Measure G in November 2016. Measure G provides a permanent one percent transaction and use tax, effective April 1, 2017, which is fully allocated to the City of La Quinta. The Financial Advisory Commission (FAC) provides oversight of these tax revenues. This third Annual Measure G Sales Tax Oversight Report covers the period from July 1, 2018 through June 30, 2019 (fiscal year 2018/19), provides a summary of the Measure G budget for fiscal year ending June 30, 2020 and includes an inception to date summary. All Measure G revenues shall be used in accordance with the ballot measure for costs including police protection, projects such as parks, landscaping and flood control, programs attracting businesses, youth/senior services, sports recreation programs, preserving property values and quality of life. This report concludes all Measure G tax revenues are being used in accordance with the ballot measure. 2018/19 REVENUES Total Measure G sales tax revenues for 2018/19 were $10,958,118. This compares to the final budget estimate of $10,145,000 million. Actual revenues exceeded the budget estimate due to: - Higher levels of goods purchased online and in neighboring cities for delivery within the City of La Quinta and - Due in part to delayed tax revenue allocations from 2017/18 as a result of a new State reporting and remittance system implementation in the spring of 2018. 2018/19 EXPENDITURES Originally the 2018/19 budget allocated $2,750,000 of Measure G for public safety contract services; however, due to identified contract service savings, a portion of the budget ($650,000) was allocated to the Public Safety Fund during the 2018/19 Fourth Quarter Budget Report. An additional contribution of $200,000 was also budgeted and made to the Public Safety Fund. The total ANNUAL MEASURE G SALES TAX OVERSIGHT REPORT FOR PERIOD ENDED JUNE 30, 2019 ATTACHMENT 1 available fund balance in the Public Safety Fund was $1,162,747 as of June 30, 2019. No expenses are budgeted from this restricted Fund in 2019/20. The remaining 2018/19 budget allocation ($2.1 million) was used for police contract services. This represented 13% of total contract service costs ($15,656,713) for the fiscal year. OVERALL SUMMARY Below is an updated inception to date Measure G Revenue and Expenditure Summary by fiscal year. Revenues 2016/17 Actual 1,462,650$ 2017/18 Actual 9,967,657 2018/19 Actual 10,958,118 TOTAL 22,388,425$ Expenditures Operational Capital Reserves Total by Year 2016/17 Eisenhower Dr. Retention Basin 750,000 Measure G Reserves 16/17 (X-Park Funding)* 712,650 - 1,462,650 2017/18 Public Safety Fund 300,000 North La Quinta Landscape Improvements 1,802,576 Citywide Drainage Enhancements 2,407,373 La Quinta Village Road Diet Project 1,000,388 Measure G Reserves 17/18 (X-Park Funding)* 147,350 Measure G Reserves 17/18 4,309,970 9,967,657 2018/19 Public Safety Fund 850,000 Public Safety Services 2,100,000 Citywide Drainage Enhancements 1,166,500 North La Quinta Landscape Improvements 2,129,613 SilverRock Event Space 1,300,000 Measure G Reserves 18/19 3,412,005 10,958,118 TOTAL 3,250,000$ 11,416,450$ 7,721,975$ 22,388,425$ 15% 51% 34% MEASURE G REVENUES AND EXPENDITURES SUMMARY * In 2018/19, the City allocated $860,000 from Measure G reserves for the XPark. $712,650 from 2016/17 and a portion of 2017/18 ($147,350) reserves. Total inception to date revenue of $22.4 million is allocated as follows by category. The greatest portion (51% or $11.4 million) is allocated to Capital Improvement Projects as detailed on the previous page. Public safety expenses (15% or $3.2 million) for police contract services and funds for future public safety expenses. Use of all funds are subject to City Council appropriation. BUDGET YEAR 2019/20 SUMMARY                       Prior oversight reports and information on Measure G are located online at https://www.laquintaca.gov/business/tax-measure. Questions regarding this report or the use of Measure G funds may be directed to the Finance Department by calling 760-777-7150 or by email at finance@laquintaca.gov. Expenditures  City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: DISCUSS THE FISCAL YEAR 2018/19 GENERAL FUND YEAR- END BUDGET REPORT AND AMENDED BUDGET CARRYOVERS RECOMMENDATION Discuss the General Fund Year-End Budget Report and amended budget carryovers from 2018/19 to 2019/20. EXECUTIVE SUMMARY •After closing the prior fiscal year, Finance presents a year-end summary that compares the final budget to actual transactions. •The Report was presented and approved by City Council on November 5, 2019. •Revenue was $6,058,346 higher than budgeted. •Expenditures (including approved carryovers from 2017/18 appropriations into 2018/19) were $15.3 million under budget. Of these savings, nearly $12.6 million will be carried over to 2019/20 for capital improvements and operations. FISCAL IMPACT Amended budget carryovers from 2018/19 to 2019/20 total $12,598,462 and are funded with budgetary savings from 2018/19. BACKGROUND/ANALYSIS Revenues were over budget by $6 million; mostly due to taxes, interest earnings, and transfers in from other funds. Overall, 87% of department expenditures were under budget with total savings of slightly over $15 million. Of these savings, nearly $12.6 million will be carried over to 2019/20 for multi-year capital projects and operations. The net savings (net of carryovers) were $7,954,015 million. Revenues, expenditures, carryovers, and reserve balances are discussed in the 2018/19 General Fund Year-End Budget Report (Attachment 1). STUDY SESSION ITEM NO. 1 ALTERNATIVES No alternatives are applicable. Prepared by: Karla Romero, Finance Director Approved by: Jon McMillen, City Manager Attachment: 1. 2018/19 General Fund Year-End Budget Report ATTACHMENT 1 OVERVIEW The City oversees multiple sources of funds which are reported in the Comprehensive Annual Financial Report (CAFR) issued prior to December 30th of each year and presented at a public meeting shortly thereafter. This fiscal year-end budget report focuses on the General Fund and summarizes the overall financial activities and position through June 30, 2019. The General Fund is strong, with revenues exceeding budgetary projections and expenditures savings. In 2018/19, the City leveraged one-time revenues to fund capital improvements and establish Pension Trust and Economic Development Funds. The final budget, including adjustments, is detailed in Exhibit A of this report. Operational revenues were approximately $6 million over budget and expenses after adjustments were $1,895,669 under budget resulting in a budget surplus of $7,954,015. REVENUE VARIANCES As detailed in Exhibit B and summarized on the following page, most General Fund revenues experienced positive variances from the final budget. Three categories representing the largest variances included taxes, use of money and property, and transfers in. Taxes represent nearly 75% of all General Fund revenues and include the three largest funding sources for the City – sales taxes $20,905,243, transient occupancy taxes (TOT) $10,682,877 and property taxes $9,352,681. Combined these top three revenues account for $40,940,801 or 85% of all taxes. Under current economic conditions, sales taxes and TOT continued to outpace projections. Reductions in 2018/19 GENERAL FUND YEAR-END BUDGET REPORT General Fund Final Budget Actual Variance Operational Revenues 57,214,614 63,272,960 6,058,346 Capital/Operational Carryovers 9,590,688 9,590,688 - Unassigned Reserves 295,000 295,000 - Pension Trust Reserves 6,540,000 6,540,000 - Prior Year Measure G Reserves 2,160,000 2,160,000 - Total Revenues 75,800,302 81,858,648 6,058,346 - Operational Expenditures *72,498,378 57,191,129 (15,307,249) New Measure G Reserves 2,598,887 3,412,005 813,118 - Carryovers to 2019/20 Multi-Year Capital Improvements 11,853,162 11,853,162 Operational 745,300 745,300 Adjusted Expenditures 75,097,265 73,201,596 (1,895,669) - Budget Surplus After Carryovers 703,037 8,657,052 7,954,015 *A ctual expenses reduced by $17,606,136 for non-cash expenditures. Proposition 8 property valuation adjustments and home sales increased property tax revenues. Use of money and property includes interest earnings from the city-wide investment pool. The City has worked diligently to leverage highly restricted investments under volatile market conditions. At June 30, 2018, the portfolio was earning a 1.31% rate of return and on June 30, 2019 the return was 2.04%. Today the average investment purchases are yielding a 1.50% return. In addition, General Fund interest earnings have increased after the passage of Measure G because the portfolio investment balance has increased for multi-year capital funding. Miscellaneous/transfers in included one-time revenues of $1,383,564 from the sale of three acres of City owned vacant Highway 111 land and $442,079 of restricted funds reimbursed to the General Fund for 2017/18 capital project expenses. EXPENDITURE VARIANCES General Fund expenses are summarized on the next page by department, and details by department and expense category are located in Exhibit C. Overall, most departments remained within budget. Savings were derived from the judicious management of contract and professional services with the largest savings derived from police ($656,037) and fire ($585,356) services. Several departments also experienced salary and benefits savings from vacant positions. The largest budget variance was reflected in Centralized Services (CS). CS captures citywide expenses such as pension liabilities, retiree medical benefits, and transfers out to other funds such as the Gas Tax Fund for street improvements, Lighting and Landscape Fund, SilverRock Golf Course Fund, Public Safety Fund, Economic Development Fund and the Capital Improvement Project Fund. In 2018/19, CS recorded two non-cash expenses transactions totaling $17,606,136. To properly illustrate operating expenses, these non- cash expenses have been removed from the summary chart on the following page and noted in Exhibit C. General Fund Revenues Final Budget Actual Variance % Variance Tax Revenue 44,721,000 47,664,927 2,943,927 7% Licenses & Permits 1,271,900 1,528,949 257,049 20% Intergovernmental 7,311,200 7,256,245 (54,955) -1% Charges for Services 1,013,000 1,153,487 140,487 14% Fines, Forfeitures & Abatements 305,500 384,308 78,808 26% Use of Money & Property 483,000 2,662,940 2,179,940 451% Miscellaneous/Transfers In 2,109,014 2,622,104 513,090 24% Total Revenues 57,214,614 63,272,960 6,058,346 11% Non-Cash Expense Transactions Land Disposals, Hwy 111 & SilverRock 2,589,010 Write-Off of Interfund Loans 15,017,126 TOTAL 17,606,136 The write-off of four interfund loans resulted in a non-cash expense of $15,017,126; a reduction of General Fund receivables, and increased ongoing revenues from development impact fees for capital projects. This transaction is detailed in Exhibit D of this report. The second non-cash expense transaction records the disposal of three acres on Highway 111 and 129 acres of vacant land at SilverRock, which is subject to the existing development agreement with SilverRock Development Company. Revenues from these sales are captured in the miscellaneous revenue category. The expense transactions reduce the land held for resale by the City by $1,383,564 for Highway 111 and $1,205,446 for SilverRock for a total of $2,589,010. Three departments were over budget. Parks Maintenance, Public Buildings, and Streets had a combined overage of $146,742 due to operational expenses, maintenance services, and utility expenses. General Fund Expenditures Final Budget Actual Variance Carryover to 19/20 City Council 309,300 277,235 (32,065) - City Manager 920,900 887,662 (33,238) - City Attorney 535,000 509,738 (25,262) - Human Resources 666,857 528,995 (137,862) 30,000 City Clerk 578,493 541,059 (37,434) 11,100 Finance 1,198,800 1,055,104 (143,696) - Centralized Services*30,534,978 18,495,032 (12,039,946) 12,233,162 Police 16,312,750 15,656,713 (656,037) 30,000 Fire 7,263,200 6,677,844 (585,356) 90,700 Community Resources Admin. 848,200 780,257 (67,943) - Wellness Center Operations 652,700 560,154 (92,546) - Recreational Programs & Events 567,000 402,473 (164,527) 101,000 Parks Maintenance 2,070,500 2,120,846 50,346 - Marketing & Community Relations 1,266,100 1,194,173 (71,927) 33,700 Public Buildings 1,759,700 1,849,202 89,502 - Design & Development Admin.1,211,700 981,828 (229,872) - Planning 770,700 593,792 (176,908) 68,800 Building 974,900 711,820 (263,080) - Code Compliance/Animal Control 1,220,200 1,084,144 (136,056) - The Hub 795,300 786,722 (8,578) - Public Works Dev. Services 752,700 536,055 (216,645) - Streets 14,900 21,794 6,894 - Engineering Services 1,273,500 938,487 (335,013) - Total Expenditures 72,498,378 57,191,129 (15,307,249) 12,598,462 Measure G Reserves 2,598,887 3,412,005 813,118 Carryovers to 2019/20 Capital Improvements 11,853,162 Operational 745,300 Total Carryovers 12,598,462 12,598,462 Total Adjusted Expenditures 75,097,265 73,201,596 (1,895,669) *Actual expenses reduced by $17,606,136 for non-cash expenditures. Capital improvement program (CIP) and operational carryovers total $12,598,462 and are detailed in Exhibit E of this report. The majority of capital improvement carryover funding ($8,232,515 or 69%) is provided from Measure G sales tax revenue. CIP revenue commitments are reflected in assigned reserves and operational carryovers are noted in committed reserves, both discussed next. RESERVES The chart below depicts reserve balances by category and the value change from June 30, 2018 to June 30, 2019. These reserve balances reflect the financial health of the City at fiscal-year end. Non-spendable balances decreased by a total of $19,292,507 and included: • The disposal of portions of Land Held for Resale on Highway 111 and SilverRock for a total value of $2,589,010 • The write-off of four uncollectible interfund loans resulting in a $14,954,085 reduction in Advances to Other Funds, and • The 2018/19 Redevelopment Agency loan repayment ($2,490,453) and interest earnings ($794,516) resulting in a decrease of $1,695,937 in Due from Other Governments. Reserve/Fund Balance As of June 30, 2018 As of June 30, 2019 Change in Value Non-Spendable Prepaid Costs 90,657 37,182 (53,475) Land Held for Resale 8,320,000 5,730,990 (2,589,010) Advances to Other Funds 14,954,085 - (14,954,085) Due from Other Governments 29,611,707 27,915,770 (1,695,937) Total Non-Spendable 52,976,449 33,683,942 (19,292,507) Committed Operational Carryovers 2,186,500 745,300 (1,441,200) Cash Flow Reserve 5,000,000 5,000,000 - Natural Disaster Reserve 7,400,000 10,000,000 2,600,000 Economic Disaster 8,140,000 11,000,000 2,860,000 Capital Replacement Reserve 5,000,000 5,000,000 - Pension Trust Benefits 2,000,000 6,540,000 4,540,000 Establish Pension Trust - (6,540,000) (6,540,000) Total Committed 29,726,500 31,745,300 2,018,800 Assigned Public Safety Fire Services 9,754,327 9,864,841 110,514 Measure G Sales Tax 5,169,970 7,721,975 2,552,005 Capital Projects 1,996,815 11,853,162 9,856,347 Total Assigned 16,921,112 29,439,978 12,518,866 Unassigned 19,199,505 16,224,558 (2,974,947) TOTAL FUND BALANCE 118,823,566 111,093,778 (7,729,788) The Due from Other Governments balance of $27,915,770 represents the principal ($18,202,604) and interest ($9,713,166) owed to the General Fund (80% of total loan repayments). An additional 20% or $6,978,943 is recognized in the Housing Authority Fund. The total outstanding loan balance as of June 30, 2019 was $34,894,713. Non- spendable reserves cannot be used to fund ongoing operations and primarily represent commitments due to the General Fund. Committed reserves increased by $2,018,800. During the 2018/19 mid-year budget report the Unassigned balance was reduced by $10,000,000 and used to fund the following reserves: • $2,600,000 for Natural Disaster Reserve • $2,860,000 for Economic Disaster Reserves • $4,540,000 for a Pension Trust established with a total initial amount of $6,540,000 An increase of $12,518,866 in assigned reserves was primarily due to Measure G sales tax revenue ($2,552,005) and multi-year capital improvement project funding ($9,856,347). During the 2019/20 mid-year budget report to be presented in February 2020, staff will provide funding options for Council to consider placing a portion of unassigned reserves into approved reserves which are not fully funded. Current reserve balances and targets are summarized below. Reserve/Trust Reserve Target Current Funding Over/(Under) Funded Annual Target Emergency Reserve Natural Disaster 10,000,000 10,000,000 - 1,500,000 Economic Disaster 11,000,000 11,000,000 - 1,000,000 Total 21,000,000 21,000,000 - 2,500,000 Cash Flow Reserve 5,000,000 5,000,000 - - Capital Replacement 10,000,000 5,000,000 (5,000,000) 1,000,000 Total Reserves 36,000,000 31,000,000 (5,000,000) 3,500,000 Pension Trust Fund 10,000,000 6,540,000 (3,460,000) 1,000,000 Unassigned Reserves 10,000,000 16,224,558 6,224,558 - Overall Total 56,000,000 53,764,558 (2,235,442) 4,500,000 MEASURE G SUMMARY The Financial Advisory Commission oversees and audits the use of Measure G sales tax revenues and in December 2019 will issue a year-end report. The summary below provides a preview of the revenues and expenditures to date. The Measure G reserve balance ended the fiscal year at $7,721,975. Revenues 2016/17 Actual 1,462,650$ 2017/18 Actual 9,967,657 2018/19 Actual 10,958,118 TOTAL 22,388,425$ Expenditures Operational Capital Reserves 2016/17 Eisenhower Dr. Retention Basin 750,000 Measure G Reserves 2016/17 (X-park Funding)712,650 - 2017/18 Public Safety Fund 300,000 North La Quinta Landscape Improvements 1,802,576 Citywide Drainage Enhancements 2,407,373 La Quinta Village Road Diet Project 1,000,388 Measure G Reserves 2017/18 (X-Park Funding)147,350 Measure G Reserves 2017/18 4,309,970 2018/19 Public Safety Fund 850,000 Public Safety Services 2,100,000 Citywide Drainage Enhancements 1,166,500 North La Quinta Landscape Improvements 2,129,613 SilverRock Event Space 1,300,000 Measure G Reserves 2018/19 3,412,005 TOTAL 3,250,000$ 11,416,450$ 7,721,975$ 15%51%34% MEASURE G REVENUES AND EXPENDITURES SUMMARY In 2018/19, the City allocated $860,000 from Measure G reserves for the XPark. $712,650 from 2016/17 and a portion of 2017/18 ($147,350) Reserves. EXHIBIT A 2018/19 GENERAL FUND BUDGET ADJUSTMENT DETAILS The 2018/19 budget was adopted in June 2018 and budgetary adjustments detailed below were approved throughout the fiscal year to reflect updated economic conditions and operational needs. One-time funds, which include the use of reserves and carryovers from 2017/18 to 2018/19, are color coded in blue. These one-time funds were used for multi-year capital projects ($7,404,188) and the Economic Development Fund ($2,975,564), to enhance the Information Technology budget ($295,000), to increase construction funding for the SilverRock Event Space ($1,300,000) and X-Park ($860,000), and to establish a Pension Trust Fund ($6,540,000). The use of these funds was limited to one-time expenses and do not support ongoing operational needs. The remaining adjustments were operational. Budget Adjustments Final Budget Revenues Original Adopted Budget 52,297,400 Capital Carryovers from 17/18 to 18/19 7,404,188 Operational Carryovers from 17/18 to 18/19 2,186,500 1st Quarter Adjustments, Reserves 295,000 Fire Positions, Fire Property Taxes 90,600 Measure G Reserves (SilverRock Park)1,300,000 2nd Quarter Adjustments 1,997,000 Pension Trust Reserves 6,540,000 Measure G Reserves (X-Park)860,000 3rd Quarter Adjustments 1,325,250 Highway 111 Land Sale 1,383,564 4th Quarter Adjustments 120,800 Total Revenues 75,800,302 Expenditures Original Adopted Budget 51,153,413 Capital Carryovers from 17/18 to 18/19 7,404,188 Operational Carryovers from 17/18 to 18/1 594,500 Transfer to Economic Development Fund 1,592,000 1st Quarter Adjustments 295,000 Fire Positions (2)90,600 SilverRock Event Space 1,300,000 2nd Quarter Adjustments 156,613 Pension Trust 6,540,000 X-Park Enhancements 860,000 3rd Quarter Adjustments 938,500 Transfer to Economic Development Fund 1,383,564 4th Quarter Adjustments 190,000 Measure G Reserves as of 3rd Quarter 2,598,887 Total Expenditures 75,097,265 Budget Surplus 703,037 2018/19 General Fund Budget Summary as of 6/30/19 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget 101 - GENERAL FUND 310 - Tax Revenues 2,317,101 2,261,000 2,261,000 2,382,606 121,606101-0000-40310 Property Tax Revenue 4,522,612 4,500,000 4,600,000 4,717,774 117,774101-0000-40311 No-Low City Property Tax 1,995,222 1,978,000 2,300,000 2,252,301 (47,699)101-0000-40315 RPTTF Pass Through 8,989,328 8,900,000 9,300,000 9,947,125 647,125101-0000-41320 State Sales Tax 9,967,657 8,455,000 10,145,000 10,958,118 813,118101-0000-41326 Measure G Sales Tax 718,472 550,000 550,000 713,237 163,237101-0000-41327 Document Transfer Tax 6,588,185 6,400,000 6,550,000 6,718,848 168,848101-0000-41400 TOT - Hotels 2,804,647 2,400,000 2,800,000 3,489,726 689,726101-0000-41401 TOT - Short Term Vac. Rental 105,133 110,000 110,000 97,870 (12,130)101-0000-41402 TOT - Bed and Breakfast 345,291 360,000 360,000 376,433 16,433101-0000-41416 TOT - Resort Fees 817,032 650,000 650,000 791,256 141,256101-0000-41505 Franchise Taxes - Burrtec 125,843 127,000 127,000 133,519 6,519101-0000-41508 Southern California Gas Franc 632,794 590,000 590,000 694,603 104,603101-0000-41509 Cable Television Franchise Fee 245,337 300,000 300,000 304,975 4,975101-0000-41510 Communications Franchise Fe 3,941,348 4,078,000 4,078,000 4,086,536 8,536101-0000-41800 Property Tax in Lieu of VLF 310 - Tax Revenues Totals:44,116,003 41,659,000 44,721,000 47,664,927 2,943,927 320 - Licenses & Permits 119,130 108,000 140,000 146,914 6,914101-0000-41415 STVR Registration Fee 333,942 340,000 340,000 410,762 70,762101-0000-41600 Business Licenses 4,560 6,000 0 0 0101-0000-41601 Cannabis Delivery License 2,220 1,000 1,000 3,475 2,475101-0000-41610 Film Permits 145,194 125,000 125,000 146,528 21,528101-0000-42400 Building Permits 68,615 50,000 50,000 74,983 24,983101-0000-42401 Plumbing Permits 88,756 70,000 70,000 86,146 16,146101-0000-42402 Mechanical Permits 60,833 50,000 50,000 56,202 6,202101-0000-42403 Electrical Permits 185,642 140,000 160,000 197,580 37,580101-0000-42404 Miscellaneous Permits 9,170 10,000 10,000 9,580 (420)101-0000-42405 Garage Sale Permits 240 200 200 160 (40)101-0000-42406 Golf Cart Permits 14,201 8,000 8,000 13,790 5,790101-0000-42408 Grading Permits 5,826 4,000 4,000 7,314 3,314101-0000-42410 Driveway Permits 320 500 500 20 (480)101-0000-42414 Massage Permits 48,538 30,000 35,000 53,496 18,496101-0000-42420 Fire Plan Review Fee 24,930 12,000 19,000 37,518 18,518101-0000-42421 Fire Inspection Fee 2,446 2,500 2,500 2,078 (422)101-0000-42430 Transportation Permits 23,938 12,500 12,500 9,346 (3,154)101-0000-42431 Conditional Use Permits 2,799 2,800 2,800 2,875 75101-0000-42433 Minor Use Permit 17,094 18,000 18,000 14,385 (3,615)101-0000-42434 Sign Permit 58,055 52,000 52,000 56,125 4,125101-0000-42435 Site Development Permit 25,276 12,100 12,100 5,817 (6,283)101-0000-42436 Final Landscaping Plans 0 3,300 3,300 0 (3,300)101-0000-42437 Development Agreement 8,219 6,000 6,000 10,087 4,087101-0000-42439 Temporary Use Permit 144,876 150,000 150,000 183,768 33,768101-0000-43632 Public Works Permits 320 - Licenses & Permits Totals:1,394,820 1,213,900 1,271,900 1,528,949 257,049 330 - Intergovernmental 0 0 0 15,000 15,000101-0000-41710 State Gov't Revenue 7,052,080 7,057,600 7,223,200 7,071,162 (152,038)101-0000-42500 Fire Service Credit 290,673 85,000 85,000 165,583 80,583101-0000-43633 CSA 152 Assessments 125,000 3,000 3,000 4,500 1,500101-0000-43650 Contributions from Other Agen 330 - Intergovernmental Totals:7,467,752 7,145,600 7,311,200 7,256,245 (54,955) 340 - Charges for Services 45,269 55,000 55,000 36,712 (18,288)101-0000-42200 Leisure Enrichment 6,521 6,000 6,000 12,078 6,078101-0000-42202 Gift Shop 42,086 45,500 45,500 41,782 (3,718)101-0000-42210 Youth Sports 7,200 6,000 6,000 950 (5,050)101-0000-42211 Adult Sports 34,033 30,000 30,000 43,217 13,217101-0000-42212 Facility Rental 21,338 20,000 20,000 17,685 (2,315)101-0000-42213 Special Event 55,248 45,000 45,000 54,183 9,183101-0000-42214 Wellness Center Leisure Enrich 2,465 2,000 2,000 1,126 (874)101-0000-42216 Senior Center Special Events 131,147 125,000 125,000 137,300 12,300101-0000-42218 Wellness Center Memberships 2,317,101 2,261,000 2,261,000 2,382,606 121,606 4,522,612 4,500,000 4,600,000 4,717,774 117,774 1,995,222 1,978,000 2,300,000 2,252,301 (47,699) 8,989,328 8,900,000 9,300,000 9,947,125 647,125 9,967,657 8,455,000 10,145,000 10,958,118 813,118 718,472 550,000 550,000 713,237 163,237 6,588,185 6,400,000 6,550,000 6,718,848 168,848 2,804,647 2,400,000 2,800,000 3,489,726 689,726 105,133 110,000 110,000 97,870 (12,130) 345,291 360,000 360,000 376,433 16,433 817,032 650,000 650,000 791,256 141,256 125,843 127,000 127,000 133,519 6,519 632,794 590,000 590,000 694,603 104,603 245,337 300,000 300,000 304,975 4,975 3,941,348 4,078,000 4,078,000 4,086,536 8,536 44,116,003 41,659,000 44,721,000 47,664,927 2,943,927 119,130 108,000 140,000 146,914 6,914 333,942 340,000 340,000 410,762 70,762 4,560 6,000 0 0 0 2,220 1,000 1,000 3,475 2,475 145,194 125,000 125,000 146,528 21,528 68,615 50,000 50,000 74,983 24,983 88,756 70,000 70,000 86,146 16,146 60,833 50,000 50,000 56,202 6,202 185,642 140,000 160,000 197,580 37,580 9,170 10,000 10,000 9,580 (420) 240 200 200 160 (40) 14,201 8,000 8,000 13,790 5,790 5,826 4,000 4,000 7,314 3,314 320 500 500 20 (480) 48,538 30,000 35,000 53,496 18,496 24,930 12,000 19,000 37,518 18,518 2,446 2,500 2,500 2,078 (422) 23,938 12,500 12,500 9,346 (3,154) 2,799 2,800 2,800 2,875 75 17,094 18,000 18,000 14,385 (3,615) 58,055 52,000 52,000 56,125 4,125 25,276 12,100 12,100 5,817 (6,283) 0 3,300 3,300 0 (3,300) 8,219 6,000 6,000 10,087 4,087 144,876 150,000 150,000 183,768 33,768 1,394,820 1,213,900 1,271,900 1,528,949 257,049 0 0 0 15,000 15,000 7,052,080 7,057,600 7,223,200 7,071,162 (152,038) 290,673 85,000 85,000 165,583 80,583 125,000 3,000 3,000 4,500 1,500 7,467,752 7,145,600 7,311,200 7,256,245 (54,955) 45,269 55,000 55,000 36,712 (18,288) 6,521 6,000 6,000 12,078 6,078 42,086 45,500 45,500 41,782 (3,718) 7,200 6,000 6,000 950 (5,050) 34,033 30,000 30,000 43,217 13,217 21,338 20,000 20,000 17,685 (2,315) 55,248 45,000 45,000 54,183 9,183 2,465 2,000 2,000 1,126 (874) 131,147 125,000 125,000 137,300 12,300 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS EXHIBIT B 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget 5 0 0 111 111101-0000-42300 Cash Over/Short 360 200 200 405 205101-0000-42303 NSF Charges 0 5,000 5,000 0 (5,000)101-0000-42411 Village Use Permit 4,013 2,000 2,000 3,168 1,168101-0000-42412 Minor Adjustment, Plan Check 32,733 8,200 8,200 5,036 (3,164)101-0000-42415 Tentative Tract Map 14,347 6,000 6,000 22,171 16,171101-0000-42416 Digitization/Records Managem 2,168 1,200 1,200 960 (240)101-0000-42417 Modification by Applicant 0 0 0 685 685101-0000-42429 Appeal Bid Process 1,500 1,500 1,500 1,750 250101-0000-42440 Appeals - Planning Commissio 19,514 9,200 19,200 20,518 1,318101-0000-42443 Zone Change 3,696 4,300 4,300 1,440 (2,860)101-0000-42445 Environmental Assessment 19,456 10,200 10,000 10,406 406101-0000-42446 General Plan Amendment 6,365 4,500 4,500 7,925 3,425101-0000-42447 Home Occupations 10,848 5,000 10,000 20,898 10,898101-0000-42448 Tenative Parcel Map 13,343 0 5,000 4,750 (250)101-0000-42451 Specific Plan 564,556 425,000 425,000 541,925 116,925101-0000-42600 Building Plan Check Fees 575 300 300 671 371101-0000-42610 SMIP Fees 0 300 300 1,066 766101-0000-42615 CBSC Administrative Fees 167,174 175,000 175,000 162,857 (12,143)101-0000-42810 Public Works Dev. Plan Check 1,381 800 800 1,710 910101-0000-43631 CVMSHCP Admin Fee 340 - Charges for Services Totals:1,207,341 993,200 1,013,000 1,153,487 140,487 350 - Fines, Forfeitures & Abatements 26,661 18,000 18,000 39,456 21,456101-0000-42700 Administrative Citations 48,790 20,000 20,000 21,881 1,881101-0000-42701 Lot Abatement 42,268 15,000 15,000 36,301 21,301101-0000-42702 Vehicle Abatement 72,403 70,000 70,000 70,040 40101-0000-42703 Vehicle Impound Fee 110,066 90,000 90,000 133,042 43,042101-0000-42705 Motor Vehicle Code Fines 35,507 37,000 37,000 26,486 (10,514)101-0000-42706 Parking Violations 24,563 16,000 16,000 2,125 (13,875)101-0000-42707 Misc Fines 7,542 6,500 6,500 8,059 1,559101-0000-42708 Graffiti Removal 7,590 3,000 23,000 38,101 15,101101-0000-42709 False Alarm Fees - Police 0 0 10,000 8,817 (1,183)101-0000-42710 False Alarm Fees - Fire 350 - Fines, Forfeitures & Abatements Totals:375,390 275,500 305,500 384,308 78,808 360 - Use of Money & Property 0 0 13,000 16,575 3,575101-0000-41411 STVR Inspection Fee 353,784 270,000 270,000 2,291,758 2,021,758101-0000-41900 Allocated Interest 177,071 60,000 60,000 213,946 153,946101-0000-41915 Non-Allocated Interest 2,554 10,000 10,000 396 (9,604)101-0000-42111 Rental Income 109,762 130,000 130,000 140,264 10,264101-0000-42120 Lease Revenue - Cell Towers 360 - Use of Money & Property Totals:643,171 470,000 483,000 2,662,940 2,179,940 370 - Miscellaneous 790,402 375,000 375,000 401,124 26,124101-0000-41410 TOT - Mitigation Measures 21,999 15,000 26,000 26,351 351101-0000-41504 AMR Compliance 156,173 105,000 105,000 108,495 3,495101-0000-41507 Burrtec Admin Cost Reimburse 4,861 0 0 60,315 60,315101-0000-42000 Insurance Recoveries 5,843 0 0 0 0101-0000-42130 SB 1186 Revenue 61 100 100 129 29101-0000-42140 Sales of Publications & Materia 72,528 25,000 25,000 18,135 (6,865)101-0000-42301 Miscellaneous Revenue 47,466 10,000 70,000 58,701 (11,299)101-0000-42305 Miscellaneous Reimbursement 6,219 10,000 10,000 8,776 (1,224)101-0000-43505 Credit Card Fee Revenue 779 100 1,383,664 1,383,750 86101-0000-45000 Sale of Other Assets 370 - Miscellaneous Totals:1,106,332 540,200 1,994,764 2,065,775 71,011 5 0 0 111 111 360 200 200 405 205 0 5,000 5,000 0 (5,000) 4,013 2,000 2,000 3,168 1,168 32,733 8,200 8,200 5,036 (3,164) 14,347 6,000 6,000 22,171 16,171 2,168 1,200 1,200 960 (240) 0 0 0 685 685 1,500 1,500 1,500 1,750 250 19,514 9,200 19,200 20,518 1,318 3,696 4,300 4,300 1,440 (2,860) 19,456 10,200 10,000 10,406 406 6,365 4,500 4,500 7,925 3,425 10,848 5,000 10,000 20,898 10,898 13,343 0 5,000 4,750 (250) 564,556 425,000 425,000 541,925 116,925 575 300 300 671 371 0 300 300 1,066 766 167,174 175,000 175,000 162,857 (12,143) 1,381 800 800 1,710 910 1,207,341 993,200 1,013,000 1,153,487 140,487 26,661 18,000 18,000 39,456 21,456 48,790 20,000 20,000 21,881 1,881 42,268 15,000 15,000 36,301 21,301 72,403 70,000 70,000 70,040 40 110,066 90,000 90,000 133,042 43,042 35,507 37,000 37,000 26,486 (10,514) 24,563 16,000 16,000 2,125 (13,875) 7,542 6,500 6,500 8,059 1,559 7,590 3,000 23,000 38,101 15,101 0 0 10,000 8,817 (1,183) 375,390 275,500 305,500 384,308 78,808 0 0 13,000 16,575 3,575 353,784 270,000 270,000 2,291,758 2,021,758 177,071 60,000 60,000 213,946 153,946 2,554 10,000 10,000 396 (9,604) 109,762 130,000 130,000 140,264 10,264 643,171 470,000 483,000 2,662,940 2,179,940 790,402 375,000 375,000 401,124 26,124 21,999 15,000 26,000 26,351 351 156,173 105,000 105,000 108,495 3,495 4,861 0 0 60,315 60,315 5,843 0 0 0 0 61 100 100 129 29 72,528 25,000 25,000 18,135 (6,865) 47,466 10,000 70,000 58,701 (11,299) 6,219 10,000 10,000 8,776 (1,224) 779 100 1,383,664 1,383,750 86 1,106,332 540,200 1,994,764 2,065,775 71,011 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS EXHIBIT B 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget 380 - Transfers In 38,048 0 114,250 556,329 442,079101-0000-49500 Transfers In 380 - Transfers In Totals:38,048 0 114,250 556,329 442,079 101 - GENERAL FUND Totals:56,348,857 52,297,400 57,214,614 63,272,960 6,058,346 38,048 0 114,250 556,329 442,079 38,048 0 114,250 556,329 442,079 56,348,857 52,297,400 57,214,614 63,272,960 6,058,346 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS EXHIBIT B 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget 1001 - City Council 259,964 308,000 309,300 277,235 (32,065) Salaries and Benefits 242,278 272,400 273,700 236,827 (36,873) Maintenance & Operations 17,686 35,600 35,600 40,409 4,809 1002 - City Manager 783,671 901,500 920,900 887,662 (33,238) Salaries and Benefits 597,074 653,300 674,200 647,975 (26,225) Contract Services 77,624 117,000 117,000 106,225 (10,775) Maintenance & Operations 79,573 94,500 93,000 96,763 3,763 Internal Service Charges 29,400 36,700 36,700 36,700 0 1003 - City Attorney 420,511 485,000 535,000 509,738 (25,262) Contract Services 420,511 485,000 535,000 509,738 (25,262) 1004 - Human Resources 474,561 567,650 666,857 528,995 (137,862) Salaries and Benefits 254,899 308,200 351,007 324,867 (26,140) Contract Services 115,282 119,250 142,350 80,540 (61,810) Maintenance & Operations 87,580 116,900 150,200 100,289 (49,911) Internal Service Charges 16,800 23,300 23,300 23,300 0 1005 - City Clerk 527,550 595,100 578,493 541,059 (37,434) Salaries and Benefits 399,776 417,400 373,393 352,912 (20,481) Contract Services 85,544 114,000 141,400 127,298 (14,102) Maintenance & Operations 12,830 21,200 21,200 18,349 (2,851) Internal Service Charges 29,400 42,500 42,500 42,500 0 1006 - Finance 1,033,895 1,149,400 1,198,800 1,055,104 (143,696) Salaries and Benefits 830,963 874,500 884,900 791,787 (93,113) Contract Services 106,426 148,000 184,000 133,813 (50,187) Maintenance & Operations 29,405 34,900 37,900 37,503 (397) Internal Service Charges 67,100 92,000 92,000 92,000 0 1007 - Central Services 8,217,796 9,218,463 30,534,978 36,101,167 5,566,188 Salaries and Benefits 1,646,001 1,221,900 7,525,700 7,420,590 (105,110) Maintenance & Operations 112,228 206,100 296,100 197,420 (98,680) Other Expenses 0 0 0 15,017,126 15,017,126 Capital Expenses 0 0 429,250 2,755,926 2,326,676 Internal Service Charges 635,000 680,700 680,700 680,700 0 Transfers Out 5,824,567 7,109,763 21,603,228 10,029,405 (11,573,824) 2001 - Police 15,083,365 17,019,000 16,312,750 15,656,713 (656,037) Contract Services 15,039,388 16,956,000 16,219,750 15,590,110 (629,640) Maintenance & Operations 6,533 10,000 10,000 16,132 6,132 Utilities 12,444 14,000 14,000 11,471 (2,529) Capital Expenses 0 0 30,000 0 (30,000) Internal Service Charges 25,000 39,000 39,000 39,000 0 2002 - Fire 6,531,244 7,057,600 7,263,200 6,677,844 (585,356) Salaries and Benefits 0 0 90,600 72,335 (18,265) Contract Services 6,336,243 6,789,500 6,759,500 6,244,079 (515,421) Maintenance & Operations 75,553 101,500 141,500 89,149 (52,351) Other Expenses 0 0 0 362 362 Utilities 63,448 82,000 82,000 62,670 (19,330) Capital Expenses 0 15,000 120,000 139,649 19,649 Internal Service Charges 56,000 69,600 69,600 69,600 0 3001 - Community Resources Administrati 631,998 853,900 848,200 780,257 (67,943) Salaries and Benefits 475,456 554,900 549,200 592,466 43,266 Contract Services 52,460 65,000 65,000 41,160 (23,840) Maintenance & Operations 55,783 187,400 187,400 100,031 (87,369) Internal Service Charges 48,300 46,600 46,600 46,600 0 3002 - Wellness Center Operations 581,478 647,700 652,700 560,154 (92,546) Salaries and Benefits 439,880 427,800 434,800 371,164 (63,636) Contract Services 78,169 99,300 99,300 72,136 (27,164) 259,964 308,000 309,300 277,235 (32,065) 242,278 272,400 273,700 236,827 (36,873) 17,686 35,600 35,600 40,409 4,809 783,671 901,500 920,900 887,662 (33,238) 597,074 653,300 674,200 647,975 (26,225) 77,624 117,000 117,000 106,225 (10,775) 79,573 94,500 93,000 96,763 3,763 29,400 36,700 36,700 36,700 0 420,511 485,000 535,000 509,738 (25,262) 420,511 485,000 535,000 509,738 (25,262) 474,561 567,650 666,857 528,995 (137,862) 254,899 308,200 351,007 324,867 (26,140) 115,282 119,250 142,350 80,540 (61,810) 87,580 116,900 150,200 100,289 (49,911) 16,800 23,300 23,300 23,300 0 527,550 595,100 578,493 541,059 (37,434) 399,776 417,400 373,393 352,912 (20,481) 85,544 114,000 141,400 127,298 (14,102) 12,830 21,200 21,200 18,349 (2,851) 29,400 42,500 42,500 42,500 0 1,033,895 1,149,400 1,198,800 1,055,104 (143,696) 830,963 874,500 884,900 791,787 (93,113) 106,426 148,000 184,000 133,813 (50,187) 29,405 34,900 37,900 37,503 (397) 67,100 92,000 92,000 92,000 0 8,217,796 9,218,463 30,534,978 36,101,167 5,566,188 1,646,001 1,221,900 7,525,700 7,420,590 (105,110) 112,228 206,100 296,100 197,420 (98,680) 0 0 0 15,017,126 15,017,126 0 0 429,250 2,755,926 2,326,676 635,000 680,700 680,700 680,700 0 5,824,567 7,109,763 21,603,228 10,029,405 (11,573,824) 15,083,365 17,019,000 16,312,750 15,656,713 (656,037) 15,039,388 16,956,000 16,219,750 15,590,110 (629,640) 6,533 10,000 10,000 16,132 6,132 12,444 14,000 14,000 11,471 (2,529) 0 0 30,000 0 (30,000) 25,000 39,000 39,000 39,000 0 6,531,244 7,057,600 7,263,200 6,677,844 (585,356) 0 0 90,600 72,335 (18,265) 6,336,243 6,789,500 6,759,500 6,244,079 (515,421) 75,553 101,500 141,500 89,149 (52,351) 0 0 0 362 362 63,448 82,000 82,000 62,670 (19,330) 0 15,000 120,000 139,649 19,649 56,000 69,600 69,600 69,600 0 631,998 853,900 848,200 780,257 (67,943) 475,456 554,900 549,200 592,466 43,266 52,460 65,000 65,000 41,160 (23,840) 55,783 187,400 187,400 100,031 (87,369) 48,300 46,600 46,600 46,600 0 581,478 647,700 652,700 560,154 (92,546) 439,880 427,800 434,800 371,164 (63,636) 78,169 99,300 99,300 72,136 (27,164) CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT C 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. * * Includes $17,606,136 of non-cash transactions as detailed in the year-end budget report. 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget Maintenance & Operations 46,301 63,500 61,500 59,754 (1,746) Utilities 3280000 Internal Service Charges 16,800 57,100 57,100 57,100 0 3003 - Recreation Programs & Special Eve 310,586 529,300 567,000 402,473 (164,527) Salaries and Benefits 129,941 199,700 199,900 137,341 (62,559) Maintenance & Operations 143,845 285,300 322,800 220,833 (101,967) Internal Service Charges 36,800 44,300 44,300 44,300 0 3005 - Parks Maintenance 1,732,772 2,066,700 2,070,500 2,120,846 50,346 Salaries and Benefits 446,735 427,300 431,100 471,310 40,210 Contract Services 400,594 426,000 426,000 430,720 4,720 Maintenance & Operations 252,698 223,600 223,600 192,229 (31,371) Utilities 264,546 240,500 240,500 277,287 36,787 Internal Service Charges 368,200 749,300 749,300 749,300 0 3007 - Marketing & Community Relations 1,074,172 1,199,800 1,266,100 1,194,173 (71,927) Salaries and Benefits 93,047 102,900 139,200 140,609 1,409 Contract Services 278,050 287,500 287,500 241,288 (46,212) Maintenance & Operations 694,675 797,700 827,700 800,577 (27,123) Internal Service Charges 8,400 11,700 11,700 11,700 0 3008 - Public Buildings 1,639,767 1,746,800 1,759,700 1,849,202 89,502 Salaries and Benefits 422,341 411,500 422,400 459,367 36,967 Contract Services 96,675 135,000 135,000 145,600 10,600 Office Supplies 50000 Maintenance & Operations 788,235 799,600 801,600 821,080 19,480 Utilities 139,111 131,000 131,000 151,753 20,753 Capital Expenses 0 0 0 1,702 1,702 Internal Service Charges 193,400 269,700 269,700 269,700 0 6001 - Design & Development Administrat 786,361 1,181,700 1,211,700 981,828 (229,872) Salaries and Benefits 571,442 835,300 861,900 711,701 (150,199) Contract Services 77,234 140,000 143,400 54,320 (89,080) Maintenance & Operations 36,985 42,200 42,200 51,606 9,406 Internal Service Charges 100,700 164,200 164,200 164,200 0 6002 - Planning 482,189 757,100 770,700 593,792 (176,908) Salaries and Benefits 351,820 378,300 393,400 292,449 (100,951) Contract Services 70,527 313,000 313,000 244,177 (68,823) Maintenance & Operations 23,042 30,800 29,300 22,166 (7,134) Internal Service Charges 36,800 35,000 35,000 35,000 0 6003 - Building 686,220 962,100 974,900 711,820 (263,080) Salaries and Benefits 475,631 522,500 535,300 518,156 (17,144) Contract Services 150,295 324,000 324,000 79,281 (244,719) Maintenance & Operations 3,594 8,500 8,500 7,284 (1,216) Internal Service Charges 56,700 107,100 107,100 107,100 0 6004 - Code Compliance/Animal Control 1,018,033 1,166,400 1,220,200 1,084,144 (136,056) Salaries and Benefits 675,867 705,200 734,000 696,076 (37,924) Contract Services 196,759 260,000 285,000 210,935 (74,065) Maintenance & Operations 14,306 38,200 38,200 14,132 (24,068) Internal Service Charges 131,100 163,000 163,000 163,000 0 6006 - The Hub 766,425 727,500 795,300 786,722 (8,578) Salaries and Benefits 700,920 629,300 644,800 656,141 11,341 Contract Services 8,199 15,000 67,300 59,620 (7,680) Maintenance & Operations 11,206 19,100 19,100 6,861 (12,239) Internal Service Charges 46,100 64,100 64,100 64,100 0 7002 - Public Works Development Services 493,811 734,300 752,700 536,055 (216,645) Salaries and Benefits 335,959 430,000 448,400 323,557 (124,843) Contract Services 116,838 230,000 230,000 143,296 (86,704) 46,301 63,500 61,500 59,754 (1,746) 3280000 16,800 57,100 57,100 57,100 0 310,586 529,300 567,000 402,473 (164,527) 129,941 199,700 199,900 137,341 (62,559) 143,845 285,300 322,800 220,833 (101,967) 36,800 44,300 44,300 44,300 0 1,732,772 2,066,700 2,070,500 2,120,846 50,346 446,735 427,300 431,100 471,310 40,210 400,594 426,000 426,000 430,720 4,720 252,698 223,600 223,600 192,229 (31,371) 264,546 240,500 240,500 277,287 36,787 368,200 749,300 749,300 749,300 0 1,074,172 1,199,800 1,266,100 1,194,173 (71,927) 93,047 102,900 139,200 140,609 1,409 278,050 287,500 287,500 241,288 (46,212) 694,675 797,700 827,700 800,577 (27,123) 8,400 11,700 11,700 11,700 0 1,639,767 1,746,800 1,759,700 1,849,202 89,502 422,341 411,500 422,400 459,367 36,967 96,675 135,000 135,000 145,600 10,600 50000 788,235 799,600 801,600 821,080 19,480 139,111 131,000 131,000 151,753 20,753 0 0 0 1,702 1,702 193,400 269,700 269,700 269,700 0 786,361 1,181,700 1,211,700 981,828 (229,872) 571,442 835,300 861,900 711,701 (150,199) 77,234 140,000 143,400 54,320 (89,080) 36,985 42,200 42,200 51,606 9,406 100,700 164,200 164,200 164,200 0 482,189 757,100 770,700 593,792 (176,908) 351,820 378,300 393,400 292,449 (100,951) 70,527 313,000 313,000 244,177 (68,823) 23,042 30,800 29,300 22,166 (7,134) 36,800 35,000 35,000 35,000 0 686,220 962,100 974,900 711,820 (263,080) 475,631 522,500 535,300 518,156 (17,144) 150,295 324,000 324,000 79,281 (244,719) 3,594 8,500 8,500 7,284 (1,216) 56,700 107,100 107,100 107,100 0 1,018,033 1,166,400 1,220,200 1,084,144 (136,056) 675,867 705,200 734,000 696,076 (37,924) 196,759 260,000 285,000 210,935 (74,065) 14,306 38,200 38,200 14,132 (24,068) 131,100 163,000 163,000 163,000 0 766,425 727,500 795,300 786,722 (8,578) 700,920 629,300 644,800 656,141 11,341 8,199 15,000 67,300 59,620 (7,680) 11,206 19,100 19,100 6,861 (12,239) 46,100 64,100 64,100 64,100 0 493,811 734,300 752,700 536,055 (216,645) 335,959 430,000 448,400 323,557 (124,843) 116,838 230,000 230,000 143,296 (86,704) CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT C 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. 2017/18 Actuals 2018/19 Original 2018/19 Final 2018/19 Actuals Variance w/ Final Budget Maintenance & Operations 1,114 6,700 6,700 1,602 (5,098) Internal Service Charges 39,900 67,600 67,600 67,600 0 7003 - Streets 10,459 14,900 14,900 21,794 6,894 Maintenance & Operations 10,459 14,900 14,900 21,794 6,894 7006 - Engineering Services 1,340,222 1,263,500 1,273,500 938,487 (335,013) Salaries and Benefits 634,688 757,000 767,000 536,891 (230,109) Contract Services 641,816 408,000 408,000 312,483 (95,517) Maintenance & Operations 10,218 17,000 17,000 7,613 (9,387) Internal Service Charges 53,500 81,500 81,500 81,500 0 GENERAL FUND EXPENSES 44,887,050 51,153,413 72,498,378 74,797,265 2,298,887 1,114 6,700 6,700 1,602 (5,098) 39,900 67,600 67,600 67,600 0 10,459 14,900 14,900 21,794 6,894 10,459 14,900 14,900 21,794 6,894 1,340,222 1,263,500 1,273,500 938,487 (335,013) 634,688 757,000 767,000 536,891 (230,109) 641,816 408,000 408,000 312,483 (95,517) 10,218 17,000 17,000 7,613 (9,387) 53,500 81,500 81,500 81,500 0 44,887,050 51,153,413 72,498,378 74,797,265 2,298,887 CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT C 2018/19 YEAR-END BUDGET REPORT Unaudited, final numbers will be reported in the 2018/19 financial statements issued in December 2019. Minus Non-Cash Transactions (17,606,136) (17,606,136) Adjusted Operating Expenses 57,191,129 15,307,249 EXHIBIT D SPECIAL GAIN/LOSS NOTE DISCLOSURE: As of June 30, 2019, the City had four outstanding interfund loans, totaling $15,017,126. These interfund loans were established from 2003 to 2009 and are irregular and non-recurring. They were established to supplement the construction costs associated with the development of major infrastructure which could have been funded with restricted Development Impact Fee (DIF) funds, should they have been available at the time. Since inception, the City has reported the outstanding loan balances in annual financial statements as Advances from Other Funds. The repayment terms and collectability of these loans were evaluated by Staff and confirmed with the City’s 2019 Development Impact Fee analysis. Results were presented to the Financial Advisory Commission who in conjunction with Staff recommended City Council approve the early retirement of these interfund loans resulting in a Special Item (Special Gain to the Development Impact Fee (DIF) Funds and SilverRock; Special Loss to the General Fund) as depicted below. Special Gain or Loss Summary by Fund The forgiveness of these loans 1) recognizes the reduction of development impact fees based on current and projected development capacity, as the City is nearly built out, 2) does not impact operations as future revenues would continue to be collected, remain in the DIF Funds and be subject to restricted DIF uses, and 3) are unusual, infrequent and not considered part of normal business operations thereby are reported separately to ensure transparency of financial reporting. A summary of the uncollectable loans is presented as follows. Uncollectable Interfund Advances Gain Loss Net Impact Civic Center Fund 7,106,231 Golf Course 5,553,561 Fire Protection DIF Fund 455,197 Street Facility DIF Fund 1,902,137 General Fund (15,017,126) 15,017,126 (15,017,126) - Advances to Other Funds Civic Center Fund Golf Course Non-Major Governmental Total From the General Fund 7,106,231 5,553,561 2,357,334 15,017,126 EXHIBIT E AMENDED CARRYOVERS Original carryovers from the 2018/19 to 2019/20 budget were estimated based on projected invoices in the Spring of 2019. Upon completion of the final audit in October, Finance verifies account balances and carryovers. Amended carryovers will be added to the 2019/20 budget. Vendor/Program Account Number Original Amended Difference GENERAL FUND OPERATIONAL Employee Leadership & Training Programs 101-1004-60103 30,000$ 30,000$ -$ Comprehensive Fee Study 101-1005-60103 20,100 11,100 (9,000) Healthcare and World at Work Adjustments 101-1007-50115 80,000 80,000 - Alongi Mobile Structure for SRR 101-1007-71050 300,000 300,000 - Greater Palm Springs CVB 101-3007-60151 - 33,700 33,700 Police Motorcycle received in 19/20 101-2001-71031 - 30,000 30,000 Thermal Imagin g Cameras, Fire 101-2002-60445 - 14,200 14,200 Fire Station Upgrades 101-2002-60670 41,600 41,500 (100) Fire Station #70 Bathroom/Kitchen 101-2002-72110 43,000 35,000 (8,000) World Triathlon Corporation 101-3003-60149 75,000 101,000 26,000 Park Landscape Improvements 101-3005-60431 35,000 - (35,000) Park Landscape Improvements 101-3005-60691 15,000 - (15,000) Highway 111 Corridor Visioning 101-6002-60103 120,000 68,800 (51,200) 759,700 745,300 (14,400) CAPTIAL IMRPOVEMENTS Various Multi-Year Capital Projects 101-1007-99900 5,702,700 11,853,162 6,150,462 6,462,400 12,598,462 6,136,062 SPECIAL FUNDS Lighting & Landscape District Improvements 215-7004-60431 90,000 169,000 79,000 Electric Vehicle Charging Stations 235-0000-80100 20,000 20,000 - Wellness Center Multipurpose Room 501-0000-71103 100,000 130,000 30,000 Generator, Other Equipment Needs 501-0000-80100 - 180,000 180,000 Firewall, Servers, Disaster Recovery 502-0000-60108 90,000 - (90,000) Citywide Traffic Control and Asset Management System 502-0000-71042 211,900 204,600 (7,300) Recreation Software Upgrades 502-0000-71043 26,000 25,600 (400) Firewall, Servers, Disaster Recovery 502-0000-80100 - 260,000 260,000 Replace and Upgrade Existing Cameras 503-0000-80100 10,000 10,000 - 547,900 999,200 451,300 HOUSING AUTHORITY FUNDS Washington Street Apts. Rehabilitation 248-9102-60103 145,000 145,000 - Washington Street Apts Rehabilitation 248-9102-60159 250,000 245,500 (4,500) Affordable Housing Programs 249-0000-80050 40,000 40,000 - 435,000 430,500 (4,500)- $ 7,445,300 $14,028,162 $ 6,582,862 Amended Continuing Appropriations/Carryovers from 2018/19 to 2019/20 TOTAL GENERAL FUND CARRYOVERS Operational Carryovers SPECIAL FUNDS CARRYOVERS HOUSING AUTHORITY CARRYOVERS TOTAL CARRYOVERS FOR ALL FUNDS Multi-year capital improvement projects funded by the General Fund are detailed below. Project # Project Name General Funds Measure G Funds TOTAL 151603 La Quinta Village Complete Streets -$ 141,453$ 141,453$ 151609 La Quinta X-Park - 860,000 860,000 151612 Citywide Drainage Enhancements 858,631 2,121,660 2,980,291 1819ADA ADA Improvements 20,691 20,691 1819PMP Pavement Management 707,879 707,879 1819STI Sidewalk Improvements 89,574 89,574 201602 Traffic Signal Interconnect 254,169 254,169 201603 Landscape Renovations 185,808 3,086,356 3,272,164 201606 Civic Center Campus Lake 525,935 525,935 201608 SilverRock Event Space - 1,300,000 1,300,000 201704 Eisenhower Retention Basin - 723,046 723,046 201706 Jefferson Street Sidewalk Gap 73,915 73,915 201709 Ave. 53/Jefferson Roundabout 630,650 630,650 201803 Highway 111 Sidewalk Improvements 473,445 473,445 99902 Jefferson Interchange 156,297 156,297 Grant Advances to be Repaid in 19/20 (356,348) (356,348) TOTAL 3,620,647$ 8,232,515$ 11,853,162$ 31% 69% 100% GENERAL FUND Capital Improvement Project Carryovers from 2018/19 to 2019/20 City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: DISCUSS THE FISCAL YEAR 2019/20 FIRST QUARTER BUDGET REPORT RECOMMENDATION Discuss the fiscal year 2019/20 First Quarter Budget Report. EXECUTIVE SUMMARY •The 2019/20 First Quarter Budget Report (Attachment 1) provides an update of the City’s fiscal activities from July to September, 2019. •Quarterly, a budget report is prepared to assess the adopted budget and incorporate adjustments based on current economic conditions and operational requirements. •City Council approved the Report and recommended adjustments on October 15, 2019. FISCAL IMPACT Staff recommended adjustments to Funds as outlined below: BACKGROUND/ANALYSIS Throughout the fiscal year each Department monitors their budget and proposes adjustments to reflect current conditions and ongoing operational needs. Requests are reviewed and discussed before recommending approval in the budget report. Funds with no adjustments from the originally approved 2019/20 Budget have been excluded from the report. STUDY SESSION ITEM NO. 2 Fund Revenues Expenses General Fund (101)(110,000) - Gas Tax Fund (201)(3,500) - Library and Museum Fund (202)- 110,000 AB 939 - Cal Recycle Fund (221)- 80,000 Civic Center DIF Fund (252)- (130,000) Street Facility DIF Fund (255)- (30,000) Park Facility DIF Fund (256)- (6,000) Fire Protection DIF Fund (257)- (7,500) SilverRock Golf Fund (601)- (32,500) TOTAL FUND ADJUSTMENTS (113,500) (16,000) ALTERNATIVES No alternatives are recommended. Actions on budget reports are approved by the City Council. Prepared by: Karla Romero, Finance Director Attachment: 1. 2019/20 First Quarter Budget Report The annual budget is a living document, which allows for flexibility to accommodate current business needs. Quarterly budget reports are presented to provide ongoing oversight of public funds, relay current and upcoming activities, and request funding adjustments. All funds are evaluated on a quarterly basis; however, this report summarizes activities not organically anticipated during budget adoption and subsequent operational changes. Adjustments by Fund are detailed in Exhibit 1 of this report. GENERAL FUND An expenditure amendment for the maintenance of Fritz Burns Pool was previously approved. The First Quarter 2019/20 Budget Report includes one revenue adjustment for the General Fund which would reduce the current budget surplus to $159,400. Non-allocated interest was derived from four interfund loans which were written off in June resulting in a loss of this revenue earned by the General Fund. In exchange, four Special Funds and the City’s Enterprise Fund (SilverRock) reflect decreases in expenditures related to interest payments on these loans. SPECIAL FUNDS During the summer, the State issued adjusted revenue projections for Gas Tax Funds which yielded a slight reduction in revenue ($3,500) during 2019/20. This reduction will be covered by fund balance (currently at $260,400). The Library and Museum Fund has a current budget surplus of $332,900, of which $110,000 is requested for allocation; leaving a budget surplus of $222,900. The current budget of $200,000 for library roof repairs requires an additional $80,000 for a total budget of $280,000. In addition, the MakerSpace laser cutter was replaced resulting in an expense of $30,000. A budget increase of $80,000 in the Cal Recycle Fund is requested to purchase City-branded recycling trash bins for City Parks. This adjustment would reduce fund balance from $800,000 to $720,000. 2019/20 First Quarter Budget Report Revenue 57,847,200$ Less Operating/CIP Expenses (55,638,500) Preliminary Budget Surplus 2,208,700 Less Measure G Reserves (1,916,400) BUDGET SURPLUS @ ADOPTION 292,300 Fritz Burns Pool Maintenance (22,900) 1st Quarter Adjustment (110,000) AMENDED BUDGET SURPLUS 159,400 GENERAL FUND BUDGET SUMMARY ATTACHMENT 1 The remaining four advance interest expense adjustments are also related to the write-off of interfund loans. These individual funds will retain all revenues earned and there are no expenditures budgeted at this time, however, staff is evaluating future project budgets to leverage these restricted funds. ENTERPRISE FUND The SilverRock Golf Fund requests a net adjustment to reduce expenses by $32,500. Additional expenses totaling $17,500 were incurred from reallocating the golf course putting green to avoid obstructing ongoing construction and temporary clubhouse operations. In addition, a $30,000 expense is anticipated for a gravel asphalt golf cart path at the driving range. In June of 2019, the SilverRock interfund loan due to the General Fund was written off in full, therefore the anticipated $80,000 interest expense no longer applies. Fund Interest Expense Civic Center DIF Fund (130,000) Street Facility DIF Fund (30,000) Park Facility DIF Fund (6,000) Fire Protection DIF Fund (7,500) TOTAL REDUCTIONS (173,500) City of La Quinta FY 2019/20 Recommended First Quarter Budget Adjustments Exhibit 1 Account No. Description Revenues Expenses 101-0000-41915 Non-Allocated Interest (110,000) Account No. Description Revenues Expenses 201-0000-42900 Section 2105, Gas Tax 3,400 201-0000-42905 Section 2107, Gas Tax (2,100) 201-0000-42922 SB 1, Road Maint. Rehab Act (4,800) TOTAL FUND ADJUSTMENT (3,500) Account No. Description Revenues Expenses 202-3004-72110 Building Improvements, Library 80,000 202-3009-80100 Machinery & Equipment, MakerSpace 30,000 TOTAL FUND ADJUSTMENT 110,000 Account No. Description Revenues Expenses 221-0000-60127 Recycling Solutions 80,000 Account No. Description Revenues Expenses 252-0000-83500 Advance Interest Expense (130,000) Account No. Description Revenues Expenses 255-0000-83500 Advance Interest Expense (30,000) Account No. Description Revenues Expenses 256-0000-99900 Transfers Out (6,000) Account No. Description Revenues Expenses 257-0000-83500 Advance Interest Expense (7,500) Account No. Description Revenues Expenses 601-0000-60159 Relocation due to Construction 47,500 601-0000-83500 Advance Interest Expense (80,000) TOTAL FUND ADJUSTMENT (32,500) TOTAL ALL FUNDS (113,500) (16,000) General Fund (101) Gas Tax Fund (201) SilverRock Golf Fund (601) AB 939 - Cal Recycle Fund (221) Library and Museum Fund (202) Civic Center DIF Fund (252) Street Facility DIF Fund (255) Park Facility DIF Fund (256) Fire Protection DIF Fund (257) City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: November 13, 2019 STAFF REPORT AGENDA TITLE: DISCUSS ACTIVE ECONOMIC SUBSIDY AGREEMENTS RECOMMENDATION Discuss active Economic Subsidy Agreements. EXECUTIVE SUMMARY •Pursuant to state law, local agencies shall issue a report for each economic development subsidy and on November 5, 2019, the City held a public hearing to consider any related written or oral testimony. •The City has two active Economic Subsidy Agreements (Agreements) with One Eleven La Quinta, LLC and SilverRock Development Company, LLC. •Both Agreements are in compliance with their terms and conditions. FISCAL IMPACT - None BACKGROUND/ANALYSIS In January 1, 2014, Assembly Bill 562 added Section 53083 to the California Government Code, which requires local agencies to issue a report and hold a public hearing every five years after granting an economic development subsidy. The City has Agreements with One Eleven La Quinta, LLC (Attachment 1) and SilverRock Development Company, LLC. (Attachment 2). The Agreements promote the City’s economy by increasing employment, enhancing infrastructure, developing vacant land, increasing diversification in the local economy, and enhancing tax revenues for the City. A public hearing notice was published with the Desert Sun on October 25, 2019 pursuant with state law and a public hearing was held on November 5, 2019. ALTERNATIVES The purpose of this item is to discuss active agreements as presented to the City Council. STUDY SESSION ITEM NO. 3 Prepared by: Angela Ferreira, Management Analyst Karla Romero, Finance Director Approved by: Jon McMillen, City Manager Attachments: 1.One Eleven La Quinta, LLC. Economic Subsidy Report 2. SilverRock Development Co., LLC Economic Subsidy Report ECONOMIC DEVELOPMENT SUBSIDY REPORT PURSUANT TO GOVERNMENT CODE SECTION 53083 FOR THE SALES TAX SHARING AGREEMENT BETWEEN ONE ELEVEN LA QUINTA, LLC AND THE CITY OF LA QUINTA IN CONNECTION WITH THE HOBBY LOBBY BOUNDED BY WASHINGTON STREET, HIGHWAY 111, ADAMS STREET AND THE WHITEWATER CHANNEL Pursuant to Government Code Section 53083, the City Council of the City of La Quinta must hold a noticed public hearing and, prior to the public hearing, provide all of the following information in written form and available to the public and through the City’s website, regarding active economic development subsidies. As of November 5, 2019, the City has one existing sales tax sharing agreement. Notice was published on City’s website for a public meeting held on November 5, 2019. The purpose of this report is to provide the information required pursuant to Government Code Section 53083 representing the economic opportunity and development subsidy report associated with the Sales Tax Sharing Agreement (“Agreement”) by and between One Eleven La Quinta, LLC (“Developer”) and the City of La Quinta (“City”). This report shall remain available to the public and posted on the City’s website until the end date of the economic development subsidy, as further described in number 2 below. 1.The name and address of all corporations or any other business entities, except for sole proprietorships, that are the beneficiary of the economic development subsidy. Hobby Lobby is a craft supply retailer. A majority of the 111 La Quinta Center (“Center”), including Hobby Lobby, is owned by One Eleven La Quinta, LLC, managed by Michael Shovlin. One-Eleven La Quinta, LLC. 71084 Tamarisk Avenue Rancho Mirage, CA 92270 2.The start and end dates and schedule, if applicable, for the economic development subsidy. On September 9, 2014, the City entered into a sales tax sharing agreement with One Eleven La Quinta, LLC (“Hobby Lobby”). Under the terms of the agreement the City shall make quarterly payments of 50 percent of any sales tax revenue generated (including Measure G transaction and use tax) from Hobby Lobby in an amount not to exceed $400,000 over an eight-year period. The agreement terminates when either the $400,000 limit is reached or in eighth year (December 2022) whichever comes first. 3. A description of the economic development subsidy, including the estimated total amount of the expenditure of public funds by, or of revenue lost to, the local agency as a result of the economic development subsidy. Status of the Agreement The Hobby Lobby business opened in December 2014. A traffic signal was installed at Adams Street and Corporate Center Drive, landscaping has been enhanced and continues to be maintained to City standards, pedestrian connectivity within the shopping center was improved along with signage and aesthetics. Anchor stores continue to exist since the Agreement was executed and include Stater Bros., Staples, Big 5, Petco, Ross, Kohl’s, AAA, and Hobby Lobby. In addition, Mor Furniture opened in August of 2018. As of June 30, 2019, the City made $173,017 in reimbursement payments to the owner leaving an outstanding balance of $226,983. The City anticipates making reimbursement payments until the agreement ends in 2022. Summary of Reimbursements 4. A statement of the public purposes for the economic development subsidy. The Center is one of the first and largest shopping centers in La Quinta. The Center consists of approximately 60 acres bounded by Washington Street, Highway 111, Adams Street and the Whitewater Channel. The project Specific Plan identifies approximately 617,000 square feet of retail space when built out. Approximately 539,000 square feet of retail space exist today and includes numerous anchor stores and businesses such as Stater Bros., Staples, Big 5, Petco, Ross, Kohl’s, Mor Furniture, AAA, and Hobby Lobby. The Agreement facilitated improvements such as a new traffic signal located at Adams Street and Corporate Center Drive, creating a new access point to the Center, landscape enhancements, pedestrian connectivity within the shopping center, signage and aesthetic improvements. The Center continues to provide additional shopping interest at the Highway 111 business district. Calendar Year 2015ᵅ 2016 2017ᵇ 2018 2019ᶜ Agreement Year Year 1 Year 2 Year 3 Year 4 Year 5 ᵅ Includes December of 2014. ᵇ Increase due to the passage of Measure G 1% sales tax effective 4/1/2017. ᶜ Reimbursements from 1/1/19 through 6/30/19. Sales Tax Reimbursement 27,342 25,888 42,673 51,884 25,229 173,017 TOTAL 5. The projected tax revenue to the local agency as a result of the economic development subsidy. The City retains 50 percent of the sales tax generated by Hobby Lobby and all sales tax revenue generated by the additional anchor stores within the Center. The Agreement is limited to Hobby Lobby, therefore, the additional sales tax generated equals the payments made to date, $173,017. Under current economic conditions, from July 1, 2019 through December 31, 2022, the City anticipates generating an additional $187,000 in sales tax revenue and approximately $53,000 every year thereafter. 6. Estimated number of jobs created by the economic development subsidy, broken down by full-time, part-time, and temporary positions. In October 2019, Staff attempted to obtain employment information from Hobby Lobby’s local and corporate offices. At the time this report was published, the City had not received a response. ECONOMIC DEVELOPMENT SUBSIDY REPORT PURSUANT TO GOVERNMENT CODE SECTION 53083 FOR A TRANSIENT OCCUPANCY TAX SHARING AGREEMENT SILVERROCK DEVELOPMENT COMPANY, LLC IN CONNECTION WITH THE DEVELOPMENT OF TWO LUXRY AND LIFESTYLE HOTELS LOCATED AT THE SILVERROCK GOLF COURSE ON JEFFERSON STREET BETWEEN AVENUE 52 AND AVENUE 54 IN THE CITY OF LA QUINTA Pursuant to Government Code Section 53083, the City Council of the City of La Quinta must hold a noticed public hearing and, prior to the public hearing, provide all of the following information in written form and available to the public and through the City’s website, regarding a proposed economic development subsidy to be provided by the City pursuant to a Purchase, Sale, And Development and related Agreements including Hotel TOT Rebate Agreements by and between the City of La Quinta and SilverRock Development Company, LLC (collectively, “Developer”) (“Agreement”). Notice was published on City’s website for a public meeting held on November 5, 2019. The purpose of this report is to provide the information required pursuant to Government Code Section 53083 in regards to the Agreement. This report shall remain available to the public and posted on the City’s website until the end date of the economic development subsidy, as further described in number 2 below. 1.The name and address of all corporations or any other business entities, except for sole proprietorships, that are the beneficiary of the economic development subsidy. The Agreement is with SilverRock Development Company, LLC, who owns and operates the business that will benefit from the economic development subsidy: SilverRock Development Company, LLC 3551 Fortuna Ranch Road Encinitas, CA 92024 2.The start and end dates and schedule, if applicable, for the economic development subsidy. The La Quinta City Council approved the Agreement on November 4, 2014. The TOT rebate period would span 15 years, commencing once the luxury hotels are developed and fully operational. 3. A description of the economic development subsidy, including the estimated total amount of the expenditure of public funds by, or of revenue lost to, the local agency as a result of the economic development subsidy. The agreement provides a Transient Occupancy Tax (TOT) rebate for a period of up to 15 years for the luxury and lifestyle hotels. In years 1-10, 95% of TOT is available for rebate until the developer achieves an 11% return on cost annually. Years 11-15, 75% of TOT is available for rebate until the developer achieves an 11% return on cost annually. In any given year, the TOT rebate stops upon the developer achieving an 11% return. In addition to generating TOT, the proposed development will generate property and sales tax revenues. The following table outlines the projected tax revenues, the projected rebate amount, and the City’s share of the projected tax revenues. ESTIMATED TAX REVENUE OVER 15-YEAR PERIOD Revenue Category Estimated Net New City Revenues Luxury and Lifestyle Hotel TOT (net revenue after rebate) $16,500,000 Branded Residential TOT $15,800,000 Sales Tax $ 7,600,000* Property Tax $ 7,800,000 Total Net New City Revenues Note: 15-year period starts at the opening of Luxury Hotel *Additional tax revenue is due to the passage of Measure G sales tax increase $47,700,000 4.A statement of the public purposes for the economic development subsidy. The City approved the TOT rebate to enable the development of Silverrock Resort, providing jobs, cultural and recreational opportunities to the community and providing new and ongoing general fund revenue. 5.The projected tax revenue to the local agency as a result of the economic development subsidy. The projected tax revenue and developer returns would result in the developer receiving an economic development subsidy of up to $20,100,000 over a fifteen year period beginning in the first year of operations. The revenue and subsequent subsidy are estimated based upon projected financial returns, occupancy rates and average daily rate for the Luxury and Lifestyle hotels. Sales tax revenues are based on estimated sales from the proposed mixed-use village, resort spa and hotel food and beverage sales. Property tax revenues are derived from the improvements made to the property. No expenditure of public funds is proposed. The estimated economic development subsidy of $20,100,000 is representative of potential revenue lost by the City. However, the City is estimated to receive $47,700,00 in TOT (net revenue after rebate), sales and property tax revenue directly attributed to the proposed development. 6.The net tax revenue accruing to the local agency as a result of the economic development subsidy. To date, the luxury hotels have not been constructed and the City has not yet accrued any tax revenue. 7.Estimated number of jobs created by the economic development subsidy, broken down by full-time, part-time, and temporary positions. The City anticipates the following jobs created: Job Category Full-time Jobs: Part-time Jobs: Temporary Construction Jobs 1,750 206 Permanent Operation Jobs 466 169 *Note: Part-time jobs are presented as full-time equivalents 8.The net number of jobs created by the economic development subsidy, broken down by full-time, part-time, and temporary positions. To date, the luxury hotels have not been constructed and therefore no jobs have been created. City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING DEPARTMENT REPORT TO: Financial Advisory Commissioners FROM: Rosemary Hallick, Financial Services Analyst DATE: November 13, 2019 SUBJECT: SECOND QUARTER 2019 (APRIL-JUNE) SALES TAX UPDATE FOR THE CITY OF LA QUINTA The attached report was prepared by consultants HdL Companies as an update of sales tax receipts for second quarter sales from April to June 2019. Sales Tax Update •The City’s sales-per-capita was higher than both the county and state averages. •General consumer goods (such as department stores) and restaurants/hotels made up 58% of sales tax revenue during this quarter, based on the unadjusted numbers. •La Quinta’s overall adjusted sales tax receipts for major industry groups increased 4.3%, which compares to Riverside County at 3.6% and Southern California at 2.6%. •Sales tax revenues of $9.9 million exceeded the current adjusted budget of $9.3 million, due in part to delayed allocations from 2017/18 from the State’s system conversion. Measure G Update •As with Sales Tax, Measure G transaction taxes of $10.9 million exceeded the current adjusted budget of $10.1 million. •General consumer goods (such as department stores) and restaurants/hotels made up 60% of transaction tax revenue during this quarter, a similar share to sales taxes. •The autos and transportation sector made up 12% of transaction tax revenue as opposed to 9% of sales tax revenue. •Our top 25 transactions tax producers predominately consisted of businesses located in La Quinta, however there were several businesses located outside of City limits that made the top 25. The City continuously monitors local development, economic conditions, impacts on travel and trade, and legislative and judicial news for any potential changes to sales tax collections. Attachment 1: City of La Quinta Sales Tax Update Attachment 2: California Economic Forecast from HdL DEPARTMENTAL REPORT ITEM NO. 1 ATTACHMENT 1 Measure G Sales Tax Arco AM/PM Arco AM/PM Bed Bath & Beyond Bed Bath & Beyond Best Buy Best Buy Circle K Circle K Cliffhouse Cliffhouse Costco Costco Home Depot Home Depot Amazon Fulfillment Services Hyundai/Genesis of La Quinta In n Out Burger In n Out Burger Kohls Kohls Dept. of Motor Vehicles La Quinta Chevy/Cadillac La Quinta Resort/PGA West La Quinta Resort/PGA West Lowes Lowes Marshalls Marshalls Ross Ross Mathis Brothers Furniture Stater Brothers Stein Mart Stein Mart Torre Nissan Stuft Pizza Target Target TJ Maxx TJ Maxx Desert European Motorcars Torre Nissan Tower Mart Tower Mart Verizon Wireless Verizon Wireless Vons Vons Walmart Walmart TOP 25 PRODUCERS - In Alphabetical Order Rolling 4 quarters as of Q2 2019 ATTACHMENT 2 City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING DEPARTMENT REPORT TO: Financial Advisory Commissioners FROM: Karla Romero, Finance Director DATE: November 13, 2019 SUBJECT: 2019 Development Impact Fee Study Subcommittee Update On October 9, 2019, the Financial Advisory Commission appointed three Financial Advisory Commissioners (Hoffner, Mills, and Twohey) to review the 2019 update to the Development Impact Fee Study. •Every five years the City is required to update the Development Impact Fee (DIF) Study (Study), which imposes one-time charges on development projects and are a major funding source for capital improvements. •City Council recommended the Financial Advisory Commission (FAC) serve on the sub-committee to review the Study and provide implementation recommendations. •The sub-committee shall prepare a summary report and present their findings to City Council on December 3, 2019. Staff anticipated up to four, four-hour in-person meetings. The subcommittee has meet three times. The review has included the following: Day 1, October 11th – Review of Study and City Council meeting on 10/1/19 Day 2, October 24th – Review of 10-year projections for General Fund and all DIF Funds, capital improvement plan and identified unfunded projects, and write-off of DIF loans in 18/19. Day 3, October 29th – Review and in person meetings with the Desert Valley Builders Association and Building Industry Association comments and City responses, as well as recent and historical building industry trends. DEPARTMENTAL REPORT ITEM NO. 2 Day 4, Scheduled for November 14th – Finalize review and prepare draft report. The subcommittee will prepare a summary report by the end of November 2019 which will be presented to City Council on December 17, 2019. POWER POINTS FAC MEETING November 13, 2019 11/13/2019 1 Financial Advisory Commission Regular Quarterly Meeting 11/13/2019 Financial Advisory Commission Meeting 11/13/2019 Business Session Item No. 1 Receive and File the Annual Measure G Sales Tax Oversight Compliance Report 11/13/2019 2 Revenues 2016/17 Actual 1,462,650$ 2017/18 Actual 9,967,657 2018/19 Actual 10,958,118 TOTAL 22,388,425$ Expenditures Operational Capital Reserves Total by Year 2016/17 Eisenhower Dr. Retention Basin 750,000 Measure G Reserves 16/17 (X-Park Funding)* 712,650 - 1,462,650 2017/18 Public Safety Fund 300,000 North La Quinta Landscape Improvements 1,802,576 Citywide Drainage Enhancements 2,407,373 La Quinta Village Road Diet Project 1,000,388 Measure G Reserves 17/18 (X-Park Funding)* 147,350 Measure G Reserves 17/18 4,309,970 9,967,657 2018/19 Public Safety Fund 850,000 Public Safety Services 2,100,000 Citywide Drainage Enhancements 1,166,500 North La Quinta Landscape Improvements 2,129,613 SilverRock Event Space 1,300,000 Measure G Reserves 18/19 3,412,005 10,958,118 TOTAL 3,250,000$ 11,416,450$ 7,721,975$ 22,388,425$ 15% 51% 34% MEASURE G REVENUES AND EXPENDITURES SUMMARY * In 2018/19, the City allocated $860,000 from Measure G reserves for the XPark. $712,650 from 2016/17 and a portion of 2017/18 ($147,350) reserves. Police Contract Expenses  $‐  $2,000,000  $4,000,000  $6,000,000  $8,000,000  $10,000,000  $12,000,000  $14,000,000  $16,000,000 Police Contract Costs Measure G Revenue $15,656,713  $2,100,000  2018/19 Police Contract Services Funded with Measure G Revenue 11/13/2019 3 2019/20 Budget •All uses within compliance  •Thank you to Commissioners Batavick and Hunter  Commissioner  Comments  &  Questions 11/13/2019 4 Financial Advisory Commission Meeting 11/13/2019 Study Session Item No. 1 Discuss the Fiscal Year 2018/19 Year-End Budget Report and Amended Budget Carryovers Report Content Revenues Expenditures Carryovers Reserve  Balances 5 Exhibits 11/13/2019 5 General Fund Revenues Top 3 – sales, hotel, and property taxes Larger variances   Sales and hotel taxes Allocated interest Transfers in General Fund Final Budget Actual Variance Operational Revenues 57,214,614 63,272,960 6,058,346 Capital/Operational Carryovers 9,590,688 9,590,688 - Unassigned Reserves 295,000 295,000 - Pension Trust Reserves 6,540,000 6,540,000 - Prior Year Measure G Reserves 2,160,000 2,160,000 - Total Revenues 75,800,302 81,858,648 6,058,346 General Fund Expenses 87% of departments within budget 3 departments over budget $146,742 Measure G reserves allocation $3,412,005 Total savings $1,895,669  Police $656,037  Fire $585,356 General Fund Final Budget Actual Variance - Operational Expenditures 72,498,378 57,191,129 (15,307,249) New Measure G Reserves 2,598,887 3,412,005 813,118 - Carryovers to 2019/20 Multi-Year Capital Improvements 11,853,162 11,853,162 Operational 745,300 745,300 Adjusted Expenditures 75,097,265 73,201,596 (1,895,669) 11/13/2019 6 “Non‐Cash” Loan Write Offs General  Fund  City Hall SilverRock Fire  Station Corporate  Yard Fund Gain / (Loss) Civic Center DIF Fund $7,106,231 SilverRock Fund 5,553,561 Fire Protection DIF Fund 455,197 Street Facility DIF Fund 1,902,137 General Fund ($15,017,126) Each Fund keeps its ongoing revenues  DIF funding for future projects DIF fees were not impacted  Non‐spendable reserves were reduced “Non‐Cash” Land Held for Resale Reserve/Fund Balance As of June 30, 2018 As of June 30, 2019 Change in Value Non-Spendable Land Held for Resale 8,320,000 5,730,990 (2,589,010) Highway 111 • Book Value $3,445,000 • Disposal Value $1,386,564 SilverRock  • Book Value $4,875,000 • Disposal  Value $1,205,446 Expense Land  Disposal 11/13/2019 7 Land Held for Resale $$$ Highway 111 – 3 acres  SilverRock – 129 acres  Highway 111 ‐ $1,389,564  SilverRock ‐ $6 Both generating new development, ongoing $$$ Fund BalanceReserve/Fund Balance As of June 30, 2018 As of June 30, 2019 Change in Value Non-Spendable Prepaid Costs 90,657 37,182 (53,475) Land Held for Resale 8,320,000 5,730,990 (2,589,010) Advances to Other Funds 14,954,085 - (14,954,085) Due from Other Governments 29,611,707 27,915,770 (1,695,937) Total Non-Spendable 52,976,449 33,683,942 (19,292,507) Committed Operational Carryovers 2,186,500 745,300 (1,441,200) Cash Flow Reserve 5,000,000 5,000,000 - Natural Disaster Reserve 7,400,000 10,000,000 2,600,000 Economic Disaster 8,140,000 11,000,000 2,860,000 Capital Replacement Reserve 5,000,000 5,000,000 - Pension Trust Benefits 2,000,000 6,540,000 4,540,000 Establish Pension Trust - (6,540,000) (6,540,000) Total Committed 29,726,500 31,745,300 2,018,800 Assigned Public Safety Fire Services 9,754,327 9,864,841 110,514 Measure G Sales Tax 5,169,970 7,721,975 2,552,005 Capital Projects 1,996,815 11,853,162 9,856,347 Total Assigned 16,921,112 29,439,978 12,518,866 Unassigned 19,199,505 16,224,558 (2,974,947) TOTAL FUND BALANCE 118,823,566 111,093,778 (7,729,788) 11/13/2019 8 Reserve/Trust Reserve Target Current Funding Over/(Under) Funded Annual Target Emergency Reserve Natural Disaster 10,000,000 10,000,000 - 1,500,000 Economic Disaster 11,000,000 11,000,000 - 1,000,000 Total 21,000,000 21,000,000 - 2,500,000 Cash Flow Reserve 5,000,000 5,000,000 - - Capital Replacement 10,000,000 5,000,000 (5,000,000) 1,000,000 Total Reserves 36,000,000 31,000,000 (5,000,000) 3,500,000 Pension Trust Fund 10,000,000 6,540,000 (3,460,000) 1,000,000 Unassigned Reserves 10,000,000 16,224,558 6,224,558 - Overall Total 56,000,000 53,764,558 (2,235,442) 4,500,000 Reserve FundsDiscussion &  Questions Fiscally healthy Well managed resources Leveraging grant funds Long‐term vision  Focus on economic development Funding pension obligations Reserves funded at 82% No General Fund debt  11/13/2019 9 Financial Advisory Commission Meeting 11/13/2019 Study Session Item No. 2 Discuss the Fiscal Year 2019/20 First Quarter Budget Report General Fund Summary 11/13/2019 10 General Fund Proposed Changes •$ 22,900 - Council approved August 6, 2019 for Fritz Burns Pool maintenance •$110,000 - Reduce interest revenue from interfund loans, pursuant to write-off approved by Council June 18, 2019 Special Funds Summary 11/13/2019 11 Special Funds Proposed Changes •Adjust for slightly lower gas tax projections •Library roof repairs •Creation Station laser cutter •City-branded recycle bins for parks •Reduce interest expense from interfund loans •Golf course construction-related expenses 11/13/2019 12 Financial Advisory Commission Meeting 11/13/2019 Study Session Item No. 3 Discuss Active Economic Subsidy Agreements Economic Subsidy •The City entered into two agreements in 2014 –Tax Sales Sharing Agreement with One Eleven La Quinta, LLC –Transient Occupancy Tax Sharing Agreement with SilverRock Development Company, LLC •Pursuant to Government Code Section 53083 the City must provide a progress report every 5 years for any economic subsidy agreement 11/13/2019 13 One Eleven La Quinta, LLC •Agreement entered into on September 9, 2014 •City makes quarterly payments of 50% of any sales tax revenue generated from Hobby Lobby not-to- exceed $400,000 in an 8-year period •Agreement terminates when either the $400,000 is reached or in 8 years (December 2022) whichever comes first Summary of Reimbursements 11/13/2019 14 Projected Tax Revenue •City retains 50% of sales tax generated by Hobby Lobby •To date $173,017 in payments made •From July 1, 2019 through December 31, 2022, the City anticipates generating $187,000 in sales tax revenue and $53,000 every year thereafter Job Creation •Staff attempted to obtain employment  data from Hobby Lobby. At this time, the  City has not received a response. 11/13/2019 15 SilverRock Development Corporation, LLC •Agreement entered into November 4, 2014 •Provides Transient Occupancy Tax (TOT) rebate for a period of 15 years •Years 1-10, 95% of TOT available, until 11% return on cost is achieved •Years 11-15, 75% of TOT available, until 11% return on cost is achieved •In any given year, TOT rebate stops once 11% is achieved Estimated Tax Revenue ESTIMATED TAX REVENUE OVER 15‐YEARPERIOD Revenue Category Estimated Net New CityRevenues Luxury and Lifestyle Hotel TOT (net revenue after rebate)$16,500,000 Branded Residential TOT $15,800,000 SalesTax $ 7,600,000*  Property Tax $ 7,800,000 Total NetNewCityRevenues Note: 15‐year period starts at the opening of Luxury Hotel *Additional tax revenue is due to the passage of Measure G sales tax  increase $47,700,000 11/13/2019 16 Projected Tax Revenue •Projected tax revenue and developer returns  would result in a subsidy of up to $20,100,000.  •Revenue and subsequent subsidy are estimated  based on projected financial returns, occupancy  rates and average daily rates for the Luxury and  Lifestyle hotels.  Job Creation The City anticipates the following jobs created: Job Category Full-time Jobs: Part-time Jobs: Temporary Construction Jobs 1,750 206 Permanent Operation Jobs 466 169 * Note: Part-time jobs are presented as full-time equivalents 11/13/2019 17 Financial Advisory Commission Meeting 11/13/2019 Departmental Report Item No. 1 Second Quarter 2019 (April-June) Sales Tax Update for the City of La Quinta 11/13/2019 18 Financial Advisory Commission Meeting 11/13/2019 Departmental Report Item No. 2 2019 Development Impact Fee Study Subcommittee Update 11/13/2019 19 2019 DIF Study Subcommittee  •Have meet 3 times in October  •Next meeting, November 14th •Draft summary report underway •Final report by end of November  •Recommendations to Council on December 17th Commissioner  Comments  &  Questions 11/13/2019 20 Financial Advisory Commission Meeting 11/13/2019 Departmental Report Item No. 3 Verbal Update on 2018/19 Audits Financial Audits Underway •Accruals for 18/19 completed on August 30th •Audit preparation completed from August ‐ September •Audits from October – February for 18/19 –Final Citywide, Measure A, Single (Federal Funds), Housing  Authority, Streets •18/19 Year‐End Budget Report, completed in November •18/19 CAFR, issued in December  •10‐year projections updated, in December  •State Controllers Reports 18/19, due in January  •Single Audit Report 18/19, issued by March  11/13/2019 21 Financial Advisory Commission Meeting 11/13/2019 Departmental Report Item No. 4 Verbal Update on Bank of the West Banking Services Implementation Banking & Merchant Services •Contract fully executed in July 2019 •Weekly calls every Monday at 9am, continue •Working on multiple products/services  –Signature cards for checks, completed –Cash vault management services, completed  –Accepting deposits, completed –Credit card terminals, completed –Accounts Payables, testing checks, mid‐November –Armored service deposits, mid‐November –Payroll, late November –City credit cards for Directors, early December 11/13/2019 22 Financial Advisory Commission Next Regular Quarterly Meeting is on February 12, 2020