Loading...
Attachment 3 - Financial and Investment Report June 2023Weighted Average YTM Portfolio Yield on Investments under Management 3.19% Weighted Average Maturity (days)399 This Month Last Month One year ago Portfolio Allocation & Treasurer's Cash Balances $78,384,948 $75,243,382 $72,886,943 Managed Investments $47,150,631 Local Agency Investment Fund $17,034,229 Reconciled Demand Deposit Balances $14,200,089 Portfolio Allocation & Treasurer's Cash Balances $78,384,948 Benchmarks/ References: Town's Average Yield 3.19%2.93%1.37% LAIF Yield for month 3.17%2.99%0.86% 3 mo. Treasury 5.30%5.42%1.71% 6 mo. Treasury 5.43%5.46%2.52% 2 yr. Treasury 4.90%4.41%2.96% 5 yr. Treasury (most recent)4.16%3.76%3.04% 10 Yr. Treasury 3.84%3.65%3.02% Town of Los Gatos Summary Investment Information June 30, 2023 0 - 1 year66% 1 - 2 years 11% 2 - 3 years12%3 - 5 years 11% Portfolio Maturity Profile Compliance: The Town's investments are in compliance with the Town's investment policy dated February 21, 2023and also in compliance with the requirements of Section 53600 at seq. of the California State Code. Based on the information available, the Town has sufficient funds to meet the cash demands for the next six months. Page 1 ATTACHMENT 3 Month YTD Cash & Investment Balances - Beginning of Month/Period 75,243,382.35$ $72,886,942.83 Receipts 13,271,300.37 73,873,028.83 Disbursements (10,129,734.93)(68,375,023.87) Cash & Investment Balances - End of Month/Period $78,384,947.79 $78,384,947.79 Portfolio Allocation Amount % of Portfolio Max. % or $ Allowed per State Law or Policy BNY MM $56,541.51 0.09%20% of Town Portfolio US Treasury Notes $17,388,324.87 27.09%No Max. on US Treasuries Government Agency Debenture Notes $16,027,527.15 24.97%No Max. on Non-Mortgage Backed Corporate Medium Term Bonds $13,678,237.01 21.31%30% of Town Portfolio Local Agency Investment Fund $17,034,228.67 26.54%$75 M per State Law Subtotal - Investments 64,184,859.21 100.00% Reconciled Demand Deposit Balances 14,200,088.58 Total Portfolio Allocation & Treasurer's Cash Balances $78,384,947.79 Town of Los Gatos Portfolio Allocation & Treasurer's Cash Balances June 30, 2023 BNY MM0.09%US Treasury Notes27.09% Government Agency Debenture Notes24.97% Corporate Medium Term Bonds 21.3% Local Agency Investment Fund26.5% Portfolio Investment Allocation $72.9 M $78.4 M $0.0 M $10.0 M $20.0 M $30.0 M $40.0 M $50.0 M $60.0 M $70.0 M $80.0 M $90.0 M Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Treasurer's Fund Balances Page 2 June 2023 June 2023 June 2023 Beginning Deposits Interest/Ending Balance Realized Gain/Adj.Earnings Withdrawals Balance Non-Treasury Funds: Cert. of Participation 2002 Series A Reserve Fund 693,117.82$ 2,655.50$ 695,773.32$ Note 1 Cert. Of Participation 2010 Ser A Lease Pymt Fund 31.75 0.05 31.80 Note 1 Cert. of Participation 2002 Lease Payment Fund 8,583.85 32.86 8,616.71 Note 1 Cert. of Participation 2010 Series Reserve Fund 1,313,799.98 4,962.66 1,318,762.64 Note 2 Total Restricted Funds:2,015,533.40$ -$ 7,651.07$ -$ 2,023,184.47$ CEPPT IRS Section 115 Trust 1,383,121.61 17,040.95 1,400,162.56$ Grand Total COP's and CEPPT Trust 3,398,655.01$ -$ 24,692.02$ -$ 3,423,347.03$ These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct entities. Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments and initial delivery costs. Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Note 3: The CEPPT Section IRS Section 115 Trust was established as an irrevocable trust dedicated to accumulate resources to fund the Town's unfunded liabilities related to pension and other p Town of Los Gatos Non-Treasury Restricted Fund Balances June 30, 2023 Page 3 July 2022 60,107.76$ August 2022 61,456.65 September 2022 60,153.38 October 2022 68,965.25 November 2022 68,430.71 December 2022 77,485.61 January 2023 80,998.58 February 2023 79,760.25 March 2023 96,693.30 April 2023 97,627.16 May 2023 106,872.54 June 2023 119,988.16 978,539.35$ Interest by Month Town of Los Gatos Statement of Interest Earned June 30, 2023 Page 4 Town of Los Gatos Investment Schedule June 30, 2023 Market Value Maturity Yield to Interest Interest Interest DaysDepositParOriginalMarketAbove (Under)Purchased Date or Maturity Received Earned Earned toInstitutionCUSIP #Security Coupon Date Value Cost Value Cost Interest Call Date or Call to Date Prior Yrs.Current FY Maturity US Treasury 91282CAP6 US Treasury Note 0.13%6/30/2021 1,000,000.00 995,390.63 985,550.00 (9,840.63)10/15/2023 0.33%2,240.44$ 3,260.06$ 3,260.06$ 107Toyota Motor Credit 89236THA6_1 Corporate Bond 1.35%04/12/21 500,000.00 510,580.00 497,280.00 (13,300.00)8/25/2023 0.45%12,618.75$ 2,780.30$ 2,285.61$ 56Toyota Motor Credit 89236THA6 Corporate Bond 1.35%1/11/2022 1,100,000.00 1,107,315.00 1,094,016.00 (13,299.00)8/25/2023 0.94%16,665.00$ 4,812.29$ 10,332.28$ 56US Treasury 91282CDD0 US Treasury Note 0.38%1/13/2022 1,100,000.00 1,090,675.78 1,082,686.00 (7,989.78)10/31/2023 0.85%5,344.27$ 4,286.54$ 9,313.02$ 123US Treasury 91282CCN9 US Treasury Note 0.13%1/13/2022 1,200,000.00 1,188,375.00 1,195,380.00 7,005.00 7/31/2023 0.75%1,573.37$ 4,153.18$ 9,023.27$ 31FFCB3133EKMX1Gov. Agency Debenture 2.23%8/2/2019 1,000,000.00 1,014,400.00 979,960.00 (34,440.00)2/23/2024 1.90%84,925.83$ 55,756.94$ 19,145.14$ 238FFCB3133EMBE1Gov. Agency Debenture 0.30%10/8/2020 1,600,000.00 1,598,000.00 1,538,560.00 (59,440.00)3/28/2024 0.34%11,853.34$ 9,279.41$ 5,376.16$ 272 FFCB 3133EMCQ3 Gov. Agency Debenture 0.28%10/16/2020 2,000,000.00 1,998,000.00 1,970,080.00 (27,920.00)10/13/2024 0.31%13,953.33$ 10,396.24$ 6,100.69$ 471Apple 037833DB3 Corporate Bond 2.90%12/20/2022 1,300,000.00 1,228,591.00 1,219,270.00 (9,321.00)6/21/2027 4.19%8,587.22$ -$ 28,170.97$ 1452Home Depot 437076BM3 Corporate Bond 3.00%8/4/2022 1,000,000.00 991,960.00 956,190.00 (35,770.00)1/1/2026 3.04%19,750.00$ -$ 29,252.66$ 916 US Treasury 912828ZW3 US Treasury Note 0.25%8/9/2022 350,000.00 322,096.88 319,581.50 (2,515.38)6/30/2025 3.16%779.89$ -$ 9,366.72$ 731IBM 459200JY8 Corporate Bond 3.00%3/25/2021 1,000,000.00 1,071,040.00 977,290.00 (93,750.00)5/15/2024 0.71%64,166.67$ 9,358.41$ 7,393.55$ 320FFCB3133EN5V8Gov. Agency Debenture 4.13%1/17/2023 236,000.00 239,174.20 233,276.56 (5,897.64)162.25 1/11/2027 3.76%(162.25)$ -$ 4,016.30$ 1291US Treasury 91282CBT7 US Treasury Note 0.75%9/30/2022 800,000.00 712,565.18 722,904.00 10,338.82 3/31/2026 4.14%3,000.00$ -$ 23,165.06$ 1005FFCB3133ENP95Gov. Agency Debenture 4.25%9/30/2022 900,000.00 900,939.60 888,777.00 (12,162.60)9/30/2025 4.14%19,125.00$ -$ 28,374.86$ 823US Treasury 91282CDA6 US Treasury Note 0.25%1/31/2022 1,100,000.00 1,085,222.44 1,086,624.00 1,401.56 9/30/2023 1.07%3,195.74$ 4,781.92$ 11,636.01$ 92US Treasury 91282CAW1 US Treasury Note 0.25%7/15/2021 1,200,000.00 1,199,437.50 1,177,872.00 (21,565.50)11/15/2023 0.27%5,502.72$ 3,107.52$ 3,240.69$ 138American Honda 02665WCZ2 Corporate Bond 2.40%11/27/2019 1,000,000.00 1,012,410.01 969,310.00 (43,100.01)6/27/2024 2.12%84,733.34$ 55,189.68$ 21,294.11$ 363JP Morgan Chase 46625HRS1 Corporate Bond 3.20%9/23/2022 500,000.00 474,660.00 476,265.00 1,605.00 3/15/2026 4.70%11,644.44$ -$ 17,865.15$ 989Honeywell Int'l.438516BW5 Corporate Bond 2.30%11/20/2019 1,000,000.00 1,014,660.00 966,060.00 (48,600.00)7/15/2024 1.64%73,983.33$ 51,828.99$ 19,850.56$ 381Caterpillar Financial Serv 14913Q2V0 Corporate Bond 2.85%2/23/2021 1,000,000.00 1,077,370.00 976,980.00 (100,390.00)5/17/2024 0.44%63,650.00$ 6,129.72$ 4,547.46$ 322 FNMA 3135G0V75 Gov. Agency Debenture 1.75%10/17/2019 1,100,000.00 1,105,833.30 1,060,741.00 (45,092.30)7/2/2024 1.63%62,081.25$ 48,706.74$ 18,012.12$ 368US Bancorp 91159HHV5 Corporate Bond 3.38%12/24/2019 1,000,000.00 1,049,040.00 985,470.00 (63,570.00)1/5/2024 2.12%105,093.75$ 54,380.13$ 21,598.20$ 189FFCB3133EKQA7Gov. Agency Debenture 2.08%10/21/2019 1,000,000.00 1,019,780.00 962,120.00 (57,660.00)9/10/2024 1.66%70,431.11$ 45,130.78$ 16,757.61$ 438PNC Financial 69349LAM0 Corporate Bond 3.80%2/7/2022 1,000,000.00 1,033,470.00 998,700.00 (34,770.00)6/25/2023 1.49%36,733.33$ 5,372.34$ 13,524.78$ 0FHLB3135G05X7Gov. Agency Debenture 0.38%6/10/2022 1,200,000.00 1,102,952.40 1,091,700.00 (11,252.40)8/25/2025 3.04%3,187.50$ 1,902.68$ 34,723.87$ 787US Treasury 912828ZL7 US Treasury Note 0.38%4/12/2022 1,700,000.00 1,583,927.57 1,563,864.00 (20,063.57)4/30/2025 2.72%6,691.99$ 9,611.14$ 44,405.91$ 670JP Morgan Chase 46625HJT8 Corporate Bond 3.88%9/23/2019 1,400,000.00 1,485,414.00 1,386,238.00 (99,176.00)2/1/2024 2.39%182,038.89$ 96,022.89$ 34,667.02$ 216US Treasury 912828V23 US Treasury Note 2.25%11/29/2021 1,000,000.00 1,032,933.04 985,080.00 (47,853.04)12/31/2023 0.66%35,706.52$ 3,924.44$ 6,724.99$ 184US Treasury 91282CBE0_2 US Treasury Note 0.13%10/7/2021 1,000,000.00 994,768.98 972,620.00 (22,148.98)1/15/2024 0.36%1,589.67$ 2,587.41$ 3,550.39$ 199FHLB3130ALH98Gov. Agency Debenture 0.25%2/26/2021 1,000,000.00 997,610.00 965,190.00 (32,420.00)2/26/2024 0.33%5,000.00$ 4,416.63$ 3,296.67$ 241FHLB3130AQF65Gov. Agency Debenture 1.25%11/30/2022 1,300,000.00 1,160,559.40 1,169,116.00 8,556.60 12/21/2026 4.15%9,072.92$ -$ 29,385.32$ 1270 US Treasury 912828U57 US Treasury Note 2.13%7/31/2019 1,000,000.00 1,011,875.00 986,840.00 (25,035.00)11/30/2023 1.84%81,458.33$ 54,014.24$ 18,511.92$ 153US Treasury 912828X70 US Treasury Note 2.20%12/30/2019 1,000,000.00 1,010,589.29 972,030.00 (38,559.29)4/30/2024 1.75%73,703.30$ 48,922.73$ 19,558.38$ 305US Treasury 912828XT2 US Treasury Note 2.00%10/31/2019 1,000,000.00 1,015,667.41 969,490.00 (46,177.41)5/31/2024 1.64%71,639.34$ 44,208.50$ 16,583.87$ 336 American Honda 02665WCQ2 Corporate Bond 3.63%9/14/2021 950,000.00 1,012,871.00 944,832.00 (68,039.00)10/10/2023 0.41%54,143.40$ 3,232.93$ 4,083.12$ 102FFCB3133EJ3Q0Gov. Agency Debenture 2.88%8/28/2019 1,500,000.00 1,587,503.75 1,480,395.00 (107,108.75)12/21/2023 2.12%164,473.96$ 64,945.24$ 22,859.22$ 174US Treasury 91282CBE0 US Treasury Note 0.13%9/15/2021 650,000.00 647,615.46 632,203.00 (15,412.46)1/15/2024 0.28%1,081.87$ 1,447.14$ 1,834.05$ 199FHLB3130APJH9Gov. Agency Debenture 0.75%1/17/2023 1,000,000.00 907,010.00 907,910.00 900.00 10/28/2026 4.17%2,104.17$ -$ 14,420.85$ 1216FFCB3133EN5N6Gov. Agency Debenture 4.00%2/8/2023 1,700,000.00 1,706,732.00 1,683,204.00 (23,528.00)6,044.44 1/6/2028 3.91%(6,044.44)$ -$ 25,921.64$ 1651Freddie Mac 3137EAEX3 Gov. Agency Debenture 0.04%5/1/2023 750,000.00 689,032.50 680,370.00 (8,662.50)296.88 9/23/2025 3.97%(296.88)$ -$ 4,222.09$ 816American Honda 02665WED9 Corporate Bond 4.70%5/11/2023 600,000.00 608,856.00 594,486.00 (14,370.00)9,321.67 1/12/2028 4.34%(9,321.67)$ -$ 3,603.61$ 1657US Treasury 91282CEF4 US Treasury Note 2.50%6/9/2023 1,500,000.00 1,416,626.12 1,405,260.00 (11,366.12)7,172.13 3/31/2027 4.09%(7,172.13)$ -$ 3,416.23$ 1370 US Treasury 91282CGA3 US Treasury Note 4.00%6/20/2023 2,100,000.00 2,080,558.59 2,066,778.00 (13,780.59)1,147.54 12/15/2025 4.40%(1,147.54)$ -$ 2,515.25$ 899 Subtotal 47,336,000.00$ 47,094,089.03$ 45,778,549.06$ (1,315,539.97)$ 24,144.91$ 1,449,379.07$ 713,947.16$ 637,187.43$ BNY MM Money Market 56,541.51 56,541.51 0.00 0.00%1LAIFState Investment Pool 17,034,228.67 16,775,793.85 (258,434.82)3.17%219,842.68 1 $64,184,859.21 $62,610,884.42 ($1,573,974.79)$24,144.91 1,449,379.07$ 713,947.16$ 857,030.11$ Matured AssetsIBM 459200HG9 Corporate Bond 1.88%8/8/2019 1,000,000.00 995,010.00 8/1/2022 2.05%55,885.42$ 59,141.32$ 1,790.47$ JP Morgan Chase 46625HJE1 Gov. Agency Debenture 3.25%2/11/2020 900,000.00 934,587.00 9/23/2022 1.74%76,537.50$ 38,210.60$ 3,733.22$ Treasury 912828L57 US Treasury Note 1.75%7/22/2019 1,200,000.00 1,197,988.40 9/30/2022 2.09%67,016.39$ 63,644.66$ 5,451.87$ Treasury 912828M80 US Treasury Note 2.00%7/22/2019 1,000,000.00 1,006,175.23 11/30/2022 1.81%67,158.47$ 53,444.10$ 7,613.55$ BankAmerica Corp 06051GHC6 Corporate Bond 3.00%10/9/2020 1,300,000.00 1,366,287.00 12/20/2023 0.66%105,331.92$ 31,569.88$ 18,319.56$ FFCB 3133EKVF0 Gov. Agency Debenture 1.88%7/22/2019 1,000,000.00 999,630.00 1/17/2023 1.89%65,364.58$ 55,482.90$ 10,383.67$ Freddie Mac 3133EKKT2 Gov. Agency Debenture 2.25%6/24/2019 1,550,000.00 1,573,188.00 2/8/2023 1.82%135,043.75$ 86,008.42$ 17,404.61$ US Treasury 912828R28 US Treasury Note 1.63%7/2/2019 500,000.00 497,246.09 4/30/2023 1.77%31,109.04$ 26,507.80$ 7,365.97$ American Honda 02665WDH1 Corporate Bond 1.95%2/14/2020 600,000.00 603,756.00 5/10/2023 1.75%39,845.00$ 25,034.14$ 9,066.57$ FHLB 3133834G3 Gov. Agency Debenture 2.13%3/11/2021 1,400,000.00 1,460,522.00 6/9/2023 0.19%66,772.22$ 3,664.98$ 2,648.64$ Freddie Mac 3137EAEN5 Gov. Agency Debenture 2.75%7/19/2019 2,000,000.00 2,072,358.00 6/19/2023 1.79%215,416.67$ 107,829.55$ 35,442.58$ Total Investments "Matured"119,220.71$ Total Interest FY 22_23 Matured and Current 976,250.82$ Maturity Profile Amount Percent0-1 year 41,886,874.47$ 66%1-2 years $6,722,200.87 11%2-3 years $7,274,765.15 12%3-5 years 7,267,548.72$ 12%$63,151,389.21 Page 5 Security Description Maturity Date Par/Shares Moody Rating S&P Rating Insight ESG Rating Environment Social Governance PNC BANK NA 3.8% 25JUL2023 (CALLABLE 25JUN23)7/25/2023 1,000,000$ A3 A-3 2 3 3 TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 8/25/2023 1,600,000$ A1 A+3 2 3 4 AMERICAN HONDA FINANCE 3.625% 10OCT2023 10/10/2023 950,000$ A3 A-2 1 3 3 JPMORGAN CHASE & CO 3.875% 01FEB2024 2/1/2024 1,400,000$ A1 A-3 1 3 4 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24)2/5/2024 1,000,000$ A3 A 3 3 4 3 IBM CORP 3.0% 15MAY2024 5/15/2024 1,000,000$ A3 A-2 1 2 3 CATERPILLAR FIN SERVICES 2.85% 17MAY24 5/17/2024 1,000,000$ A2 A 4 4 3 4 AMERICAN HONDA FINANCE 2.4% 27JUN2024 6/27/2024 1,000,000$ A3 A-2 1 3 3 HONEYWELL INTERNATIONAL 2.3% 15AUG2024 (CALLABLE 15JUL24)8/15/2024 1,000,000$ A2 A 4 3 4 3 HOME DEPOT INC. 3% 01APR2026 (CALLABLE 01JAN2026)4/1/2026 1,000,000$ A2 A 2 2 2 2 JPMORGAN CHASE & CO 3.2 15JUN2026 (CALLABLE 15MAR2026)6/15/2026 500,000$ A1 A-3 1 3 4 APPLE INC. 2.9% 12SEP2027 (CALLABLE 12JUN2027)9/12/2027 1,300,000$ Aaa AA+5 1 4 5 AMERICAN HONDA FINANCE 4.7% 12JAN2028 1/12/2028 600,000$ A3 A-2 1 3 3 Total/Average 12,750,000$ 3.0 1.8 3.1 3.4 *ESG ratings are from 1 to 5, with 1 as the highest rating and 5 as the lowest. All ratings are weighted by industry rankings, based on the importance of the category within the individual industry. Town of Los Gatos Insight ESG Ratings as of June 30, 2023 Page 6 Fund Schedule Fund Number Fund Description Current Revenue Current Expenditure Transfer In Transfer Out GENERAL FUND Non-Spendable: Loans Receivable 159,000 - - - - - 159,000 Restricted Fund Balances: Pension 690,000 - - - - - 690,000 Committed Fund Balances: Budget Stablization 5,991,566 - - - - - 5,991,566 Catastrphic 5,991,566 - - - - - 5,991,566 Pension/OPEB 300,000 - - - - - 300,000 Assigned Fund Balances: Open Space 410,000 - - - - - 410,000 Sustainability 140,553 - - - - - 140,553 Capital/Special Projects 11,071,231 (15,498) - - - - 11,055,733 Carryover Encumbrances 33,145 - - - - - 33,145 Compensated Absences 1,519,147 - - - - - 1,519,147 Measure G District Sales Tax 590,581 - - - - - 590,581 Unassigned Fund Balances: 111 Other Unassigned Fund Balance Reserve (Pre YE distribution - 3,494,617 7,472,097 (5,303,165) - - 5,663,549 General Fund Total 26,896,789 3,479,119 7,472,097 (5,303,165) - - 32,544,840 June 2023 Prior Year Carryforward 7/1/2022 Increase/ (Decrease) July-May Estimated Fund Balance 6/30/2023* Page 7 Fund Schedule Fund Number Fund Description Current Revenue Current Expenditure Transfer In Transfer Out SPECIAL REVENUE 211/212 CDBG 166,654 - - - - - 166,654 222 Urban Runoff (NPDES)451,558 145,096 59,992 (20,079) - - 636,567 231-236 Landscape & Lighting Districts 174,236 (5,368) 16,550 (6,592) - - 178,826 241 ARPA - 3,614,872 - - - - 3,614,872 251 Los Gatos Theatre 19,500 8,520 8,400 (11,716) - - 24,704 711-716 Library Trusts 555,254 (21,387) - (3,647) - - 530,220 Special Revenue Total 1,367,202 3,741,733 84,942 (42,034) - - 5,151,843 CAPITAL PROJECTS 411 GFAR - General Fund Appropriated Reserve 14,783,787 860,527 185,877 (1,328,236) - - 14,501,955 421 Grant Funded Projects (948,603) 403,682 231,212 (68,790) - - (382,499) 461-463 Storm Basin Projects 3,218,811 (103,064) 42,843 - - - 3,158,590 471 Traffic Mitigation Projects 405,570 - 6,521 (6,521) - - 405,570 472 Utility Undergrounding Projects 3,302,514 76,265 - - - - 3,378,779 481 Gas Tax Projects 1,836,068 (428,243) 284,900 - - - 1,692,725 Capital Projects Total 22,598,147 809,167 751,353 (1,403,547) - - 22,755,120 INTERNAL SERVICE FUNDS 611 Town General Liability 803,292 (537,433) - (16,903) - - 248,956 612 Workers Compensation 1,295,185 (24,571) 2,000 (15,063) - - 1,257,551 621 Information Technology 2,990,932 38,053 159,258 (117,071) - - 3,071,172 631 Vehicle & Equipment Replacement 2,222,395 90,254 164,209 (18,709) - - 2,458,149 633 Facility Maintenance 928,481 (262,303) 234,623 (170,812) - - 729,989 Internal Service Funds Total 8,240,285 (696,000) 560,090 (338,558) - - 7,765,817 Trust/Agency 942 RDA Successor Agency (7,607,527) (1,635,484) 1,678,467 (192) - - (7,564,736) Trust/Agency Fund Total (7,607,527) (1,635,484) 1,678,467 (192) - - (7,564,736) Total Town 51,494,896 5,698,535 10,546,949 (7,087,496) - - 60,652,884 * Interfund transfers and ARPA funding allocation to be performed as part of the fiscal year end closing entries. Deposit Accounts of Interest: 111-23541 General Plan Update deposit account balance $1,019,345 111-23521 BMP Housing deposit account balance $3,885,172 Prior Year Carryforward 7/1/2022 Increase/ (Decrease) July-May June 2023 Estimated Fund Balance 6/30/2023* Page 8