Page 4 November 30, 2017 EL SEGUNDO HERALD
Classifieds
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Beware: Employment offers that suggest guaranteed out-of-state or overseas positions may be deceptive or unethical in nature. If
you have any doubts about the nature of a company, contact the local office of the Better Business Bureau, (213) 251-9696. Herald
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Garage for Lease
Garage for Lease in El
Segundo: 40x40 Garage
w/of f i c e / l o f t & b athroom
(parking & storage); $2000/
month – Contact 310-647-1635
Apartment For Rent
1 BD 1 BTH apartment in E/S gated
building, onsite laundry, swimming
pool, pond w waterfall, 1 parking
space available now. $1625 per
mo. 310.322.7166.
Apartment For Rent
Nice El Segundo location, 2 roomy
bedrooms, 1 bath, private deck,
garage with opener, & storage
area, yard. No pets, $2,000/month.
310.322.2837.
Duplex for Rent
Duplex: 1 bedroom, 1 bath, washer/
dryer in unit, hardwood floors, big
back yard, 1 car garage, A+ location.
Call Tim 310.433.6809. $2,100.
Employment
COMPUTERS Director, Data
Science in El Segundo, CA. Utilize
machine learning & data science to
optimize company products & guide
business decisions. Reqs: Master’s
+ 5 yrs exp. Apply: ConsumerTrack,
Inc., Attn: T. Bustamante, Job ID#
DDS3, 1700 E. Walnut Avenue, 2nd
Floor, El Segundo, CA 90245.
Estate Sale
Estate Moving Sale - Dec 1st - 2nd.
7am-3pm. Furniture, antiques, toys,
dolls, glassware, records. Too much
to list. 710 Redwood Ave.
House for Rent
Beautiful Spacious, 4 BDRM, 2.5
BTH Townhome. 2 Car Garage,
Custom Built-In Storage. Central A/C,
Heater, Water, Trash, Gardner. Park
View. 965 Cedar St, El Segundo.
$3,950. Mike 310.962.2414
Employment
Part-time Sales. Looking for
motivated part-time workers. Inside
sales: work from home and make
sales calls. 15% commission on all
sales. Outside sales: territories are
Torrance and El Segundo. Includes
walking and interacting with business
owners. 20% commission on all
sales. Seniors and students welcome.
Send resume to management@
heraldpublications.com.
House for Rent
411 1/2 Whiting St: 2 bedroom/1
bath, w detached bonus room, private
courtyard. New hardwood floors, new
appliances. Parking, walking distance
to beach. Available 12/1. $3100.
310.938.1095.
Office Space for Lease
Office Space for Lease in
El Segundo: 1500 SF Prime
Office Space for Lease; $2.50/
NNN SF - 431 E. Grand
Ave. – Contact 310-647-1635
Wanted
Wanted: Local professional single
woman looking to temporarily rent a
room starting Dec 2017 - April 2018.
Please call 310.874.9539.
To appear in
next week’s
paper, submit your
Classifed Ad by
Noon on Tuesday.
City Treasurer from front page
as of September, just over $47 million was in
short-term funds and $27 million was in longer
term investments. Only $3.8 million was cash.
The smallest sliver was $1.1 million for the
El Segundo Senior Citizens Housing Fund that
is now shown as its own LAIF balance. The
general LAIF account that has $31.6 million
also includes $10.5 million in residential sound
insulation monies.
Policy limits the City to investments that mature
within five years or less, resulting in yields that
still hover well below two percent even on the
long-term options. This presents a challenge
for not just the City, but virtually everyone--as
the days of CDs garnering 10 percent (or even
five percent, for that matter) are long gone.
While rates persist near historic lows, current
prospects are a bit more promising than the
recent past. With continued economic growth
over the last few years, the Federal Reserve
raised its key benchmark interest rate on four
occasions since 2015 and is expected to do so
again before the end of 2017—with potentially
more gradual increases anticipated in the future.
The City’s third quarter numbers showed rates
for investments that mature in up to five years
rose slightly, with the two- and three year options
jumping the highest during the period.
Binder and her staff also provide a cash flow
analysis that details when significant monies
come into City coffers as well as when they go
out, thus prompting the need to keep a close
eye to achieve the proper balance and properly
time corresponding moves. The majority of
funds arrive in the second quarter of the fiscal
year (January through March) when business
license tax renewals are due. Other revenues
such as the annual Chevron payment make it
especially important to keep a tight cash flow.
Receipt of tax revenues (transient occupancy,
sales and utility users) are more consistent.
Conversely, the City makes some of its larger
disbursements in the third and fourth quarters,
with a major payment sent to CalPERS during
the spring for retiree health care benefits--and
then large chunks due in the summer for the
insurance pool premium, the CalPERS unfunded
liability (pensions for former employees) and an
infrastructure payment for roadwork completed
several years ago. The CalPERS unfunded liability
payment alone, made out this past July,
was just over $7 million.
“It’s very important that the City provide the
optimal liquidity to pay ongoing obligations,”
Binder said. “However, it’s equally important to
not let idle cash balances just sit there. So we
are always looking for investment opportunities.
This is a daily process of monitoring the
City’s overall financial condition and working
closely with those City departments that have
significant revenues and/or disbursements.”
Binder added that the Treasury Department
continues to seek out investments that provide
the City with diversification in not only asset
classes such as CDs, LAIF, and agency bonds,
but also by issuer.
In looking at economic indicators that
influence the Fed’s decisions, projections are
that the country’s Gross Domestic Product will
shift a bit downward over the next few years
from the current 2.2 to 2.5 percent to 1.9 to
two percent by 2020. The Fed’s target level is
between 2.5 and 3.5 percent. Unemployment,
this year in the 4.2 to 4.3 percent range, should
remain about the same for the next couple of
years, according to estimates. Annual inflation
has been lower than preferred at 1.5 to 1.6
percent, but could reach the Fed’s two percent
target by 2018.
As part of keeping up to speed with the
always changing financial world, the Treasury
staff prioritizes continuing education.
“We don’t just invest—we also need to have
a well-rounded education in subjects such
as banking, electronic fund transfers, online
payment processing, fraud monitoring, and
annual revisions to the California Government
Code that regulates public fund banking and
investing,” Binder said.
In 2016, the Treasury team updated the
City’s investment policy. Binder views the
move as pivotal. “It provides us with a modern
foundation for performing investment functions
with transparency, along with giving us the
road map to maximize opportunities for the
City,” she said. “We are much more active in
our investment activity and look forward to
continued growth while understanding some
of the major issues that loom ahead. We will
work closely with the Finance Department to
ensure the City is on solid financial footing.
We are also expanding the role of our Investment
Advisory Committee to assist the City in
reviewing other post-retirement investments to
increase transparency in this activity as well.”
Binder added a reminder that treasury and
investment management are not short-term
processes, but ones that require continuous
monitoring to maintain the City’s financial wellbeing
over the long haul. “I look forward to
continuing to support the City with its financial
goals and ensuring that the management of
the City’s investments is done with the utmost
prudence and care,” she said. •