HomeMy WebLinkAboutAgenda Report - February 6, 2008 E-03AGENDA ITEM E
CITY OF LODI
COUNCIL COMMUNICATION
M
AGENDA TITLE: Accept the Quarterly Investment Report as Required by Senate Bill 564
MEETING DATE: February 6,2008
PREPARED BY: Deputy City Manager/Treasurer
RECOMMENDED ACTION: Accept the quarterly report of the City of Lodi pooled money
investments as required by Senate Bill 564 and the City of Lodi
Investment Policy.
BACKGROUND INFORMATION: Senate Bill 564 and the City of Lodi Investment Policy require that
local agency treasurers submit a quarterly report on investments to
the legislative body of the local agency.
The total of all invested funds as of December 31, 2007 is $44,575,808.44. The average return on all
invested funds over the past quarter has been 4.69%.
FISCAL IMPACT: NIA
FUNDING AVAILABLE: As per attached report
Prepared by Susan V. Bjork, Management Analyst
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Attachment
s R. Krueger
putt' City Manager/Treasurer
APPROVED:
Bl g, City Manager
AL
CITY OF LODI
%W INTERNAL SERVICES DEPARTMENT
BUDGET DIVISION
DECEMBER 31.2007 INVESTMENT STATEMENT
Investment Category
Local Agency Investment Funds *
Average interest earnings as of 12/31 -
LODI
LPIC
Certificates of Deposit
SYS76WEST - matures 4/17/08
SYS75 - matures 12/19/08
Farmers & Merchants - matures 2/29/08
Passbook/Checking Accounts
Farmers & Merchants
Farmers & Merchants - Money Mkt.
Farmers & Merchants - Payroll
Farmers & Merchants -Central Plume
Farmers & Merchants - CP Money Mkt.
Percentage Share of Portfolio and
Interest Rate
72.9% of Portfolio
4.96%
Local Agency Inv Fund (LODI)
Local Agency Inv Fund (LPIC)
Subtotal LAIF
0.7% of Portfolio
Bank of the West (cost) 3.67% int.
Bank of America (cost) 3.82% int.
Farmers & Merchants (cost) 1.70% int.
Subtotal CD
26.4% of Portfolio
demand account - no interest earnings
4.25% interest earnings
demand account - no interest earnings
demand account - no interest earnings
4.25% interest earnings
Subtotal PIC Accts
TOTAL
12/31/07
Amount
28,958,220.93
3, 530, 022.46
32,488,243.39
100,000.00
100,000.00
100,000.00
300,000.00
1,938,269.42
1,209,738.24
22,291.72
5,874.01
8,611,391.66
11,787,565.05
44,575,808.44
Based on the approved budget and to the extent the budget is adhered to, liquidity is available,
and the City will be able to meet its expenditure requirements for the next six months. This
portfolio is in compliance with the City of Lodi Investment Policy.
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Kirk vans Date
Bud§et Manager
*In accordancewith the terms of the Local Agency Investment Fund, invested funds may be utilized on
the same day if transaction is initiated before 10:00 a.m.