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This memorandum presents the Fourth Quarter Financial Reports for Fiscal Year 2023-2024, covering the period ended June 30, 2024. It includes updates on various financial programs such as Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management. The reports are intended for review by the Public Safety, Finance and Strategic Support Committee and referral to the City Council for acceptance. The memorandum outlines the activities and performance metrics of each program, including collection efforts and procurement operations.
Key points
The memorandum is addressed to the Public Safety, Finance and Strategic Support Committee.
It includes recommendations to accept the Fourth Quarter Financial Reports for various programs.
The report covers the period ended June 30, 2024.
It provides updates on Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management activities.
The memorandum will be discussed at the PSFSS Committee meeting on August 15, 2024, and the City Council meeting on September 10, 2024.
No commission recommendation or input is associated with this action.
The memorandum will be posted on the City Council Agenda website.
Limitations
The document contains unresolved placeholders such as specific dates and contact information.
The summary does not include specific financial figures or outcomes as they were not provided in the text.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 8,519 chars
PSFSS COMMITTEE AGENDA: 8/15/24 ITEM: (d)1. TO: PUBLIC SAFETY, FINANCE AND STRATEGIC SUPPORT COMMITTEE SUBJECT: Fourth Quarter Financial Reports for Fiscal Year 2023-2024 Approved FROM: Rick Bruneau DATE: July 31, 2024 Date: 8/5/2024 COUNCIL DISTRICT: Citywide RECOMMENDATION (1) Accept the Fourth Quarter (period ended June 30, 2024) Financial Reports for Fiscal Year 2023-2024 for the following programs: (a) Debt Management; (b) Investment Management; (c) Revenue Management; and (d) Purchasing and Risk Management; and (2) Refer and cross-reference the Fourth Quarter Financial Reports for Fiscal Year 2023-2024 to the September 10, 2024 City Council meeting for full adoption. SUMMARY AND OUTCOME Provide the quarterly updates on debt management, investment management, revenue management, purchasing, and risk management activities. BACKGROUND The attached Fourth Quarter Financial Reports for Fiscal Year (FY) 2023-2024 (quarter ended June 30, 2024) (Financial Reports) presents the quarterly activity for the City of San José (City) Finance Department’s Debt Management, Investment Management, Revenue Management, Purchasing, and Risk Management programs (Attachment A). PUBLIC SAFETY,...
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The source text indicates this attachment appears to be a draft document.
This document is the Fourth Quarter Financial Report for Fiscal Year 2023-2024, prepared by the Finance Department for the Public Safety, Finance and Strategic Support Committee. It includes details on outstanding debt, debt issuance activities, investment management, revenue management, and purchasing and risk management. The report indicates outstanding debt as of June 30, 2024, and provides a summary of financial activities and performance metrics for the fiscal year.
Key points
Outstanding Debt as of June 30, 2024: $4.39 Billion.
FY2023-24 Debt Issuance: $145.3 Million.
Outstanding Direct Debt (excluding Multifamily Housing Revenue Bonds): $3.60 Billion.
Investment Portfolio size: $2,962,110,309 with an earned interest yield of 3.631%.
General Fund balance increased by $290 million, totaling $888 million as of June 30, 2024.
Total Delinquent Receivables: $43.9 Million as of June 30, 2024.
Recommendation to accept the Fourth Quarter Financial Reports for various programs.
Limitations
The document appears to be a draft as it includes references to future meetings and actions.
Some sections contain unresolved placeholders and blank fields.
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Extracted text preview · 15,817 chars
Attachment A COMMITTEE AGENDA: AUGUST 15, 2024 ITEM: (d)1. FILE: CC 24-374 ATTACHMENT A FOURTH QUARTER FINANCIAL REPORT FISCAL YEAR 2023-2024 Public Safety, Finance and Strategic Support Committee Prepared by the Finance Department July 31, 2024 FOURTH QUARTER DEBT MANAGEMENT REPORT FISCAL YEAR 2023-2024 2 OUTSTANDING DEBT ISSUED (CITY AND ALL AGENCIES) Outstanding Debt as of June 30, 2024: $4.39 Billion FY2023-24 Debt Issuance: $145.3 Million 3 DIRECT OUTSTANDING DEBT (CITY AND ALL AGENCIES) Outstanding Debt as of June 30, 2024: $3.60 Billion (Excluding Multifamily Housing Revenue Bonds) CSJ GO Bonds, $522,815,000, 14.52% Successor Agency Tax Allocation Bonds, $1,086,715,000, 30.17% CSJFA Bonds/ CP Notes, $638,982,000, 17.74% Wastewater Revenue Bonds/ RWF Notes, $304,503,219, 8.46% Airport Revenue Bonds/ CP, $1,048,373,000, 29.11% 4 DEBT ISSUANCE ACTIVITIES (APRIL– JUNE 2024) • Regional Wastewater Facility (RWF) Credit Facility Draw, $40.0 million in April 2024 • City of San José Financing Authority (CSJFA) Commercial Paper issuance for $952.0 thousand in June 2024 for Parks and Recreation Neighborhood Services Floods project • Issued $6.1 million in Airport Commercial Paper •...
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The source text indicates this attachment appears to be a draft document.
This document is the City Investment Report for the quarter ended June 30, 2024, prepared by the Finance Department. It includes details on portfolio performance, compliance with investment policies, and a summary of investment activities. The total portfolio size is approximately $2.96 billion, with an earned income yield of 3.631% and a weighted average days to maturity of 581. The report indicates no exceptions to the City’s Investment Policy during the quarter. It will be discussed in the Public Safety, Finance and Strategic Support Committee meeting on August 15, 2024, and reviewed by the City Council on September 10, 2024.
Key points
Total portfolio size: $2,962,110,309
Earned income yield: 3.631%
Weighted average days to maturity: 581
Fiscal year-to-date net interest earnings: $86,651,974
No exceptions to the City’s Investment Policy during this quarter
Limitations
The document appears to be a draft as it includes placeholders and incomplete sections.
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Extracted text preview · 229,119 chars
Attachment B TO: HONORABLE MAYOR AND CITY COUNCIL FROM: Rick Bruneau SUBJECT: Investment Report for the DATE: July 31, 2024 Quarter Ended June 30, 2024 Approved Date: 8/5/2024 Transmitted herewith is the City Investment Report for the quarter ended June 30, 2024. To meet the reporting requirements set forth in the City of San José Investment Policy, an electronic version of this report will be posted on the City’s website at https://www.sanjoseca.gov/your-government/departments-offices/finance/reports/-folder450 and a hard copy will be on file at the City Clerk’s Office located at 200 East Santa Clara Street, San José. This report will be distributed to the Public Safety, Finance and Strategic Support Committee (PSFSS) for discussion during its meeting on August 15, 2024 and will be agendized through the PSFSS Committee for review by the full City Council on September 10, 2024. Summary of portfolio performance and compliance for quarter ended June 30, 2024: • • • • • Size of total portfolio: $2,962,110,309 Earned income yield: 3.631% Weighted average days to maturity: 581 Fiscal year-to-date net interest earnings: $86,651,974 No exceptions to the City’s Investment Policy during...