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Home My WebLink About07/21/2020 04D 2020 2nd Quarter Treasury Report a\'4\lyy bxk ik 1 +� r d P PPPPPP+Pd s' lii it tYlltYlA.\ta. BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 4.D. For Meeting of: July 21, 2020 ITEM TITLE: 2020 2nd Quarter Treasury Report SUBMITTED BY: Steve Groom, Director of Finance and Budget SUMMARY EXPLANATION: The Treasury Report for the second quarter of 2020 is attached and consists of the following: 1 . Second Quarter Treasurer's Report • Cash and Investments • Longterm Debt • I nterfund Borrowings There were no monthly investment transactions in June for the Investment Committee to review due to the state pool yield being higher than alternative investments. ITEM BUDGETED: NA STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: Review only. Submitted for routine transparency and accountability. ATTACHMENTS: Description Upload Date Type E Treasu e 7/9/ 020 ackup Material 2 r t\, 71 FINANCE Date: July 8, 2020 •WPTA To: Mayor and City Council C T11101 iinXCELL CC.. k Alex Meyerhoff, Interim City Manager " ` =•' CMTYC* A&B1A From: Steve Groom, Finance Director (41 n Kimberly Domine, Finance Division Manager Jennifer Morris, Financial Services Officer Re: 2020 — 2nd Quarter Treasury Report This report is to transparently report the City's cash position and investment activity for the quarter just ended. Each investment is in compliance with the City's Investment Policy, State Statues and City Municipal Code. The City's investment policy was reviewed and approved by City Council on March 5, 2019; and the policy received a Certification of Excellence from the Washington Public Treasurer's Association on April 10, 2019. Total Cash and Investments at Quarter-end total $109.9 million: $14.7 million in depository banks, $49.4 million in the State Pool, and $45.8 million invested. The following chart shows the 5-year trend of total cash and investments month by month (showing only permanent accounts comparable year over year). City of Yakima Liquid Cash and investments Ffstor( $120.000,000 $1,00,030,000 $207O00.GOO : ..; . • . so b 4 S sgw w a s .a� . . 3 FINANCE The City's Investment Portfolio The City's investment activities are governed by State regulations and the City of Yakima's Investment Policy. All investments are in full compliance with the City's Investment Policy, State Statues and City Municipal Code. Calls or Maturities. During last quarter, the following matured or were called: • 1492 $2,030,000 FHLB called 04/10/2020 • 1517 $1 ,000,000 FHLMC called 04/10/2020 • 1532 $1 ,000,000 FHLMC called 04/15/2020 • 1529 $1 ,000,000 FHLMC called 04/16/2020 • 1520 $1 ,000,000 FFCB matured 04/29/2020 • 1494 $1 ,000,000 FNMA called 04/30/2020 • 1488 $3,000,000 FNMA matured 05/22/2020 • 1547 $1 ,000,000 US Treasury matured 06/30/2020 Purchases: During the last quarter, no investments were purchased; proceeds from all calls and maturities were invested in the State Local Government Investment Pool. Portfolio and Benchmark Yield and Maturity: Avg. weighted yield of City investments, excluding LGIP: 2.17% LGIP 30-day yield: 0.366% Weighted average maturity of City investments, excluding LGIP: 391 days Weighted average maturity of LGIP 30-day yield: 50 days 4 FINANCE Execution of each investment transaction contemplated ongoing cash flows from city operations, debt obligations, liquid and maturing securities, and contingencies to meet the City's future cash flow requirements. The City's Investment Portfolio consists of three general tiers which coincide with the primary considerations of prudent investing: 1) The Safety portion of the Portfolio consists of funds invested in the Local Government Investment Pool (LGIP, or State Pool) managed by the State Treasurer, available same- day. This allows for seasonal fluctuations, primarily the April/October inflows of Property Tax and the outflows of debt service and capital projects. 2) The Liquidity portion of the Portfolio consist of demand deposit (checking) accounts at banks which are qualified public depositaries, protected above FDIC-insured balances through the actions of the Washington State Public Deposit Protection Commission (PDPC). 3) The Yield portion of the Portfolio consists of a diversified portfolio of Agencies, Treasuries and/or other authorized investments with staggered maturities of up to five years. Based on analysis of historical cash reserves and budgetary planning, this segment will not be subject to seasonal spending and continues to be safely invested long-term. Current Rates. As of March 31, 2020, the fixed income market is experiencing extreme uncertainty, evidenced by a yield curve that is extremely low and flat. The difference between the 1-year Treasury at 0.16% and the 5-year Treasury at 0.37% was 26 basis points. The 30-day yield of the State Pool was at 1.260%, with a 45-day avg. maturity so will continue to fall. Economic Outlook. The Federal Reserve had lowered the rates three times in 2019 to 1.75 and in March 2020 lowered twice, to zero, during the Coronavirus pandemic. Unemployment, nationally, has suddenly spiked and the economy is experiencing drastic volatility; it is unclear how long nor how deep the current conditions will exist. Strategy Notes. The City of Yakima's Actual % Policy % investments are not typically actively LGIP 49,414,612 52% 100% traded, meaning that no attempt to "buy Treasuries 4,789,000 5% 100% low and sell high" or "time the market" is Agencies 36,000,000 38% 100% made. Investments purchased with the Corporates 5,000,000 5% 15% intent of providing investment income are 95,203,612 100% intended to be held to maturity, relying on following a prudent course of action for income rather than predicting market direction. Debt Activity All debt payments were paid out as scheduled. A comprehensive city-wide debt report is attached with current balances. Interfund Borrowings and Investments Borrowing between funds is temporary in nature, reviewed periodically by staff and Council, amended as circumstances change. All debt payments continue as scheduled. City of Yakima Cash and Investment Summary June 30, 2020 Current Prior Quarter Prior Year Description 6/30/2020 3/31/2020 6/30/2020 Cash Balances on Hand in Banks $ 14,735,513 $ 18,154,002 $ 10,628,760 Local Government Investment Pool (LGIP) 49,414,612 19,786,229 26,428,425 Investment Portfolio 45,789,000 64,184,000 52,602,000 Total Investments 95,203,612 83,970,229 79,030,425 Total Cash and Investments $ 109,939,124 $ 102,124,232 $ 89,659,185 Beg Balance Purchases Interest Maturities, Calls End Balance Summary of Investment Activity 3/31/2020 & Deposits Reinvested & Withdrawals 6/30/2020 Local Government Investment Pool (LGIP) $ 19,857,276 $ 29,504,910 $ 52,426 $ - $ 49,414,612 Investment Portfolio 57,829,000 - - (12,040,000) 45,789,000 Total Investments $ 77,686,276 $ 29,504,910 $ 52,426 $ (12,040,000) $ 95,203,612 City of Ya Distribution of Cash and Investments as of 6J30/2020 kima Depository Banks, ........................... $14,735,513 , 131 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Investment Portfolio 45 789 000 42 0 :: l I focal Government Investment Pool, $49,414,612 , 45% City of Yakima Investment Portfolio -Inventory by Agency June 30, 2020 Expected Days to Call Agency Inv# CUSIP Face Value Price Coupon Yield Settle Maturity Maturity Market Type Moodys S&P Fitch FHLB 1548 3130AAX52 1,000,000 1,001,159 1.750 1.540 2/4/20 8/25/20 56 1,002,294 NC Aaa AA+ NA US T 1526 912828VZ0 1,000,000 1,001,563 2.000 1.847 09/16/19 9/30/20 92 1,004,596 NC Aaa AA+ NC RFCSP 1502 76116FAE7 2,122,000 1,999,174 2.250 2.250 02/14/18 10/15/20 107 2,120,184 NC Aaa AA+ AAA US T 1534 9128285Q9 1,000,000 1,012,227 2.750 1.630 10/22/19 11/30/20 153 1,010,781 NC Aaa AA+ AAA FFCB 1542 3133ELAQ7 1,000,000 1,000,000 1.600 1.600 11/22/19 12/22/20 175 1,005,402 NC Aaa AA+ AAA RFCSP 1500 76116FAG2 2,667,000 2,499,062 2.200 2.200 01/25/18 1/15/21 199 2,662,205 NC Aaa AA+ AAA US T 1549 912828Q37 1,000,000 997,695 1.625 1.496 2/4/20 3/31/21 274 1,008,047 NC Aaa NA AAA FFCB 1518 3133EKGY6 1,000,000 1,000,000 2.375 2.375 4/15/19 4/15/21 289 1,017,405 NC Aaa AA+ AAA BNY 1521 06406FAB9 1,000,000 989,800 2.050 2.574 4/30/19 5/3/21 307 1,012,573 NC Al A AA- US T 1543 912828WY2 1,000,000 1,009,453 2.250 1.660 12/11/19 7/31/21 396 1,022,266 NC Aaa AA+ AAA FHLMC 1539 3137EAEC9 1,000,000 991,002 1.125 1.650 11/14/19 8/12/21 408 1,010,166 NC Aaa AA+ AAA FFCB 1527 3133EKP67 1,000,000 996,900 1.625 1.780 9/17/19 9/17/21 444 1,017,299 NC Aaa AA+ AAA USB 1515 91159HHP8 1,000,000 997,300 2.625 2.723 3/18/19 1/24/22 573 1,033,013 1X Al A+ AA- MSFT 1512 594918BW3 1,000,000 996,920 2.400 2.575 3/15/19 2/6/22 586 1,030,948 NC Aaa AAA AA+ FHLB 1556 313378CR0 1,000,000 1,032,367 2.250 0.630 3/6/20 3/11/22 619 1,033,551 NC Aaa AA+ NA FNMA 1550 313590T45 1,000,000 1,009,506 1.875 1.422 2/14/20 4/5/22 644 1,029,421 NC Aaa AA+ AAA FFCB 1523 3133EKLR5 1,000,000 999,100 2.250 2.281 5/16/19 5/16/22 685 1,037,290 NC Aaa AA+ AAA FAMCA 1522 31422BFF2 1,000,000 1,000,000 2.350 2.350 5/9/19 6/1/22 701 1,040,479 NC Aaa AA+ AAA FHLMC 1528 3134GT3N1 1,000,000 999,990 1.750 1.750 10/2/19 8/26/22 787 1,001,166 1C-NC Aaa AA+ AAA FHLB 1509 313383WD9 1,000,000 1,013,146 3.125 2.750 12/19/18 9/9/22 801 1,062,937 Amer Aaa AA+ AA+ FFCB 1519 3133EKHN9 1,000,000 997,450 2.330 2.406 4/18/19 10/18/22 840 1,046,951 NC Aaa AA+ AAA FFCB 1551 3133EA7E2 1,000,000 1,014,130 1.960 1.430 2/14/20 11/7/22 860 1,039,287 NC Aaa AA+ AAA FHLB 1544 313381BR5 1,000,000 1,006,250 1.875 1.660 12/11/19 12/9/22 892 1,040,325 NC Aaa AA+ AAA FNMA 1541 3135GOT94 1,000,000 1,023,490 2.375 1.610 11/20/19 1/19/23 933 1,056,589 NC Aaa AA+ AAA FFCB 1557 3133EG5Y7 1,000,000 1,045,401 2.230 0.650 3/6/20 2/2/23 947 1,050,063 NC Aaa AA+ AAA AAPL 1516 037833AK6 1,000,000 991,000 2.400 2.634 4/8/19 5/3/23 1,037 1,055,807 NC AA1 AA+ - WMT 1513 931142EK5 1,000,000 1,026,800 3.400 2.730 3/15/19 6/26/23 1,091 1,086,711 NC Aa2 AA AA FHLMC 1530 3134GUHJ2 1,000,000 1,000,000 1.750 1.750 10/10/19 7/10/23 1,105 1,000,344 1C-NC Aaa AA+ AAA US T 1545 9128284X5 1,000,000 1,039,063 2.750 1.660 12/11/19 8/31/23 1,157 1,081,016 NC Aaa AA+ AAA FAMCA 1508 3132X06C0 1,000,000 1,010,972 3.050 2.801 12/19/18 9/19/23 1,176 1,086,411 NC Aaa AA+ AAA FFCB 1537 3133EK4X1 1,000,000 997,924 1.600 1.654 11/6/19 11/1/23 1,219 1,042,226 NC Aaa AA+ AAA FHLB 1507 3130AFKR7 1,000,000 1,003,225 3.100 2.933 12/28/18 12/28/23 1,276 1,012,523 Amer Aaa AA+ AA+ FAMCA 1552 31422BSD3 1,000,000 1,004,430 1.590 1.470 2/14/20 1/10/24 1,289 1,043,702 NC NA NA NA FNMA 1540 313590V34 1,000,000 1,032,055 2.500 1.710 11/14/19 2/5/24 1,315 1,078,874 NC Aaa AA+ AAA US T 1553 9128286R6 1,000,000 1,034,063 2.250 1.413 2/14/20 4/30/24 1,400 1,077,852 NC Aaa NA AAA FAMCA 1533 31422BGA2 1,000,000 1,022,900 2.150 1.634 10/18/19 6/5/24 1,436 1,069,857 NC NA NA NA FHLB 1535 3030AHERO 1,000,000 1,000,000 1.850 1.850 10/24/19 7/24/24 1,485 1,000,980 1C-NC Aaa AA+ AA+ US T 1546 9128282U3 1,000,000 1,008,789 1.875 1.660 12/11/19 8/31/24 1,523 1,068,125 NC Aaa NA AAA FHLMC 1531 3134GUCE8 1,000,000 1,002,769 2.020 1.720 10/10/19 9/17/24 1,540 1,002,952 1C-NC Aaa AA+ AAA FHLMC 1536 3134GULS7 1,000,000 1,000,000 1.875 1.875 10/28/19 10/28/24 1,581 1,004,671 1C-NC Aaa AA+ AAA FFCB 1538 3133EK6J0 1,000,000 994,700 1.625 1.736 11/8/19 11/8/24 1,592 1,052,236 NC Aaa AA+ AAA FHLB 1554 3130A3GE8 1,000,000 1,058,979 2.750 1.480 2/14/20 12/13/24 1,627 1,102,522 NC Aaa AA+ NA FAMCA 1555 31422BRT9 1,000,000 1,011,943 1.750 1.495 2/14/20 1/3/25 1,648 1,059,408 NC NA NA NA Subtotal 43 45,789,000 45,872,695 Avg. 2.17% 47,321,454 LGIP LGIP NA 49,414,612 49,414,612 0.300 0.300 NA NA 1 49,414,612 NC (Grand Totals 5 95,203,612 $ 95,287,307 1.20% 391 S 96,736,066 City of Yakima Investment Portfolio by Issuer at 6/30J2020 FAMCA, 5,000,000, 5/° FHLMC, 5,000,000, 5% FHLB, 7,000,000, 7% RFCSP, 4,789,000, 5!° ? FNMA, 3,000,000, 3!° itilitt AAPL, 1,000,000, 1% allak BNV, 1,00u,000, , UST• 7 000 000 8f° lxisiti*Ik Hain" MSFT 1 000 000 11° USB 1 000 000 1f° atattatutostak wmT 1 000,000 1f° FFCB, 9,000,000, 10!° Diversifying by issuer reduces the credit risk the city is subject to from any one issuer as well as diversifies market price fluctuations LGIP, 49,414,612 , 52% which can vary by issuer. City of Yakima Investment Portfolio Maturity Distribution at 6/30/2020 $4,000,000 Diversifying by maturity $3,5oo,ouo reduces the re-investment risk the city is subject to in any $3,000,000 given month when an investment matures and the principal is reinvested at rates 52,5oo,000 available at that moment. $2,000,000 $1,500,000 $1,000,000 Ssocwoo 1111111111 $o 111111 1111111 1111111111 I 11111111 +1 se 4,3; 0; so 49 +04 1 4s* 40 10 City of Yakima Investment Portfolio-Detail of Activity June 30,2020 Beginning Additions and Calls and Ending Agency Inv# Face Value Purchases Maturities Face Value Farmer Mac FAMCA 1508 1,000,000 - - 1,000,000 FAMCA 1522 1,000,000 - - 1,000,000 FAMCA 1533 1,000,000 - - 1,000,000 FAMCA 1552 1,000,000 - 1,000,000 FAMCA 1555 1,000,000 - - 1,000,000 FAMCA Total 5,000,000 - - 5,000,000 Federal Farm Credit Bureau FFCB 1518 1,000,000 - - 1,000,000 FFCB 1519 1,000,000 - - 1,000,000 FFCB 1520 1,000,000 - (1,000,000) - FFCB 1523 1,000,000 - - 1,000,000 FFCB 1527 1,000,000 - - 1,000,000 FFCB 1537 1,000,000 - - 1,000,000 FFCB 1538 1,000,000 - - 1,000,000 FFCB 1542 1,000,000 - - 1,000,000 FFCB 1551 1,000,000 - - 1,000,000 FFCB 1557 1,000,000 - - 1,000,000 FFCB Total 10,000,000 - (1,000,000) 9,000,000 Federal Home Loan Bank FH LB 1492 2,030,000 - (2,030,000) - FH LB 1507 1,000,000 - - 1,000,000 FH LB 1509 1,000,000 - - 1,000,000 FH LB 1535 1,000,000 - - 1,000,000 FH LB 1544 1,000,000 - - 1,000,000 FH LB 1548 1,000,000 - - 1,000,000 FH LB 1554 1,000,000 - - 1,000,000 FH LB 1556 1,000,000 - - 1,000,000 FH LB Total 9,030,000 - (2,030,000) 7,000,000 Resolution Funding Corporation RFCSP 1500 2,667,000 - - 2,667,000 RFCSP 1502 2,122,000 - - 2,122,000 RFCSP Total 4,789,000 - - 4,789,000 Federal Home Loan Mortgage Corporation FH LMC 1517 1,000,000 - (1,000,000) - FH LMC 1528 1,000,000 - - 1,000,000 FH LMC 1529 1,000,000 - (1,000,000) - FH LMC 1530 1,000,000 - - 1,000,000 FH LMC 1531 1,000,000 - - 1,000,000 FH LMC 1532 1,000,000 - (1,000,000) - FH LMC 1536 1,000,000 - - 1,000,000 FH LMC 1539 1,000,000 - - 1,000,000 FH LMC Total 8,000,000 - (3,000,000) 5,000,000 Federal National Management Association FNMA 1488 3,000,000 - (3,000,000) - FNMA 1494 2,010,000 - (2,010,000) - FN MA 1540 1,000,000 - - 1,000,000 FN MA 1541 1,000,000 - - 1,000,000 FN MA 1550 1,000,000 - - 1,000,000 FN MA Total 8,010,000 - (5,010,000) 3,000,000 US Treasury US Treasury 1526 1,000,000 - - 1,000,000 US Treasury 1534 1,000,000 - - 1,000,000 US Treasury 1543 1,000,000 - - 1,000,000 US Treasury 1545 1,000,000 - - 1,000,000 US Treasury 1546 1,000,000 - - 1,000,000 US Treasury 1547 1,000,000 - (1,000,000) - US Treasury 1549 1,000,000 - - 1,000,000 US Treasury 1553 1,000,000 - - 1,000,000 US Treasury 8,000,000 - (1,000,000) 7,000,000 Corporate Notes AAPL 1516 1,000,000 - - 1,000,000 MSFT 1512 1,000,000 - - 1,000,000 WMT 1513 1,000,000 - 1,000,000 USB 1514 1,000,000 - 1,000,000 BNY 1521 1,000,000 - 1,000,000 Corporate Total 5,000,000 - - 5,000,000 Subtotal 57,829,000 - (12,040,000) 45,789,000 Other Investments - - - - LGIP(State Pool) LGIP 19,857,276 29,557,335 - 49,414,612 Other Investment Totals 19,857,276 29,557,335 - 49,414,612 (Grand Totals $77,686,276 $ 29,557,335 $(12,040,000) $ 95,203,612 City of Yakima Long Tenn Debt Schedule-by Project Group June 30,2020 IDate Issued Maturity Description Note Amount of Issue Current Balance I General Obligation Bonds 6p9/2003 12/1/2023 Sundome Expansion Deferred Interest-Maturity$25M x 1,430,528 244525.80 6/20/2013 6/20/2028 Street Project Demonstration(Refunded) Various City street improvements x 3,500,000 2908,445.11 6/9/2014 6/1/2024 Street Resurfacing Project Streets improvements x 13,140,000 5,995,000.00 6p9/2014 12/1/2034 Comm Center Move City portion of County GO Bonds 1,716,500 1,325,000.00 9/24/2018 12/1/2035 Soccer Complex(Refunded) City portion of SOZO Sports Complex x 4,440,127 4,1665,161.13 9/24/2018 9p/2035 2018 Aquatic Center YMCA City portion of Aquatic Center x 8,009,873 7,966,226.08 4/21/2020 12/1/2034 2020 Ref 04 Irrigation 2020 Ref 64Irrigation x 3,260,000 3,260,000.00 4/21/2020 12/1/2027 2020 Ref 08 WS Rev 2020 Ref 08 WS Rev x 2590,000 2590,000.00 4/21/2020 12/1/2022 2020 Refunding Bonds,Downtown Future 2020 Refunding Bonds,Downtown Futures 260,000 260,000.00 4/21/2020 12/1/2021 2020 Refunding Bonds,Fire Apparatus 2020 Refunding Bonds,Fire Apparatus x 140,000 140,000 00 4/21/2020 12/1/2022 2020 Refunding Bonds,WV Fire Station 2020 Refunding Bonds,WV Fire Station x 140,000 140,000 00 4/21/2020 12/1/2032 2020B Capital Theatre 09 Refunded 2020B Capital Theatre 09 Refunded x 4,910,000 4,910,000.00 4/21/2020 12/1/2644 2020B Convention Center Addition 2020B Convention Center Addition x 12620,000 12620,000.00 4/21/2020 12/1/2044 2020B Convention Center Addition III Ref 2020B Convention Center Addition III Refunded 2,495,000 2,495,000.00 Subtotal General Obligation Bonds $ 71,607,028 49,019,358.12 Certificate of Participation-State of Washington 3/19/2013 9p/2023 Fire Apparatus One track x 310,414 109,269.62 9/28/2017 6/1/2029 Energy Project LED Street Lighting x 921,863 901,899.85 9/28/2017 6/1/2029 Fire Aerial&Pump App Fire Aerial 1,268,053 965,674.41 Subtotal Certificates of Participation x $ 3,077,178 1,776,843.88 Revenue Bonds 5/31/2012 11/1/2023 Wastewater Refunded 2003$10,155,000 issue x $ 9,400,000 4,230,000.00 Subtotal Revenue Bonds $ 20,055,000 4,230,000.00 Intergovernmental Loans 8/14/2009 9p/2028 PC-08-951-052 2009 Railroad Grade Separation x $ 3,000,000 1,320,80200 5/6/2010 6/1/2034 L1000000-0 2010 Railroad Grade Separation x 1,149,841 964903.85 9/30/2015 6/1/2023 '16 Yak Co SIED-21st Ave/Airport 2015 Yakima Co SIED Loan-21st Ave/Airport x 307,000 166,098.93 6/1/2016 6/1/2029 '16 Yak Co SIED-SOZO 2016 Yakima Co SIED Loan-SOZO x 900,000 691,089.93 11/21/2017 6/1/2024 '17 Yak Co SIED-W Brewing Project 2019 Yakima Co SIED Loan-YV Brewing Project x 61,580 52389.84 9p9/2018 6/1/2029 '18 Yak Co SIED-River Rd. 2018 Yakima Co SIED-River Rd Improvements/Aquatics Center x 500,000 472034.18 6/1/2001 9p/2021 PW-01-691-071 2001 Fruitavale Neighborhood Sewer x 1,466,250 99,625.00 9/1/2003 9p/2023 PW-03-691-027 2003 Naches WTP Improvements x 2,694,500 404195.00 6/29/2005 1Op/2025 SRF-04-65104-037 2005 Naches River WTP Filter Rehab x 966,772 282435.89 12/30/2005 9p/2025 PW-05-691-064 2005 River Road Sewer x 2309,000 621,228.88 4/30/2009 9p/2029 PW-07-962-019 2009 Ultra Violet Disinfection x 2300,000 849,92221 4/15/2009 9p/2028 PC-08-951-051 2009 New Water Well x 2259,200 969,190.60 1Op0/2011 3/31/2033 L1100008 2011 Energy Efficiency x 503,558 396,915.05 8/1/2011 9p/2034 L1200019 2012 Industrial Waste Anaerobic x 590,350 493,069.40 6/1/2012 6/1/2032 PC-12-951-065 2012 Wastewater Treatment Plan x 5,000,000 2959,89054 1Op1/2012 6/1/2039 PC-13-961-069 2012 Industrial Sewer Extensions x 2000,000 1,382775.15 8/5/2013 9p/2032 PC-13-961-094 2013 Automated Reading System x 5,000,000 3,159,89494 12/12/2013 1Op/2034 DM-11-962-008 2013 Design WTP Lagoons 3,514,800 2636,100.01 Subtotal Intergovernmental Loans x $ 34,518,851 17,838,319.20 'Grand Total $ 129,258,056 72,864,521.20I City of Yakima Interfund Borrowing June 30,2020 Original Beginning Ending Description Balance Balance Issued Retired Balance Local Improvement District Bonds/Notes $ 1,432,509 $ 34,072 $ - $ - $ 34,072 Equipment Rental Reserve Fund 153- Public Safety Communications 450,000 300,000 - 150,000 150,000 Equipment Rental Reserve Total across all funds 1,882,509 334,072 - 150,000 184,072 Fund 151 - Public Safety Communications- Interfund Loan The Public Safety Communications Fund borrowed from the Equipment Replacement and Reserve Fund to provide working capital while they recover from the excess cash outflow caused by the move to the new Communications Center last year.A$150,000 payment was made in 2019. The final payment$150,000 will be paid in 2020.