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HomeMy WebLinkAboutAgenda Report - June 18, 2008 E-03AGENDA ITEM 90#15 CITY OF LODI COUNCIL COMMUNICATION TM AGENDA TITLE: Accept the Quarterly Investment Report as Required by Senate Bill 564 MEETING DATE: June 18,2008 PREPARED B Y 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 investmentsto the legislative body of the local agency. The total of all invested funds as of the quarter ending March 31, 2008 is $53,132,202.36. The average return on all invested funds over this quarter has been 3.94%. FISCAL IMPACT: FUNDING AVAILABLE: Attachment N/A As per attached report. 4 lJmfias R_ Krueaer `Deputy City ManagerlTreasurer APPROVED: B'-1— , City Manager 'F CITY OF LODI INTERNAL SERVICES DEPARTMENT BUDGET DIVISION March 31, 2008 INVESTMENT STATEMENT Local Agency Investment Funds * Average interest earnings as of 3/31 - LODI LPIC Certificates of Deposit SYS76WEST - matures 4/17/08 SYS75 - matures 12/19/08 Farmers & Merchants - matures 5/29/08 Passbook/Checking Accounts Farmers & Merchants Farmers & Merchants - Money Mkt. Farmers & Merchants - Payroll Farmers & Merchants - Central Plume Farmers & Merchants - CP Money Mkt. 77.9% of Portfolio 4.18% Local Agency Inv Fund Local Agency Inv Fund (LODI) 34,577,584.52 (LPIC) 6,823,922.72 Subtotal LAIF 41,401,507.24 0.6% of Portfolio Bank of the West (cost) 3.71 % int. Bank of America (cost) 3.74% int. Farmers & Merchants (cost) 3.06% int. Subtotal CD 21.5% of Portfolio demand account - no interest earnings 3.27% interest earnings demand account - no interest earnings demand account - no interest earnings 3.27% interest earnings Subtotal P/C Accts TOTAL 100,000.00 100,000.00 100,000.00 300,000.00 1,379,361.68 1,396,720.31 57,962.77 94,957.23 8,501,693.13 11,430,695.12 53,132,202.36 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. Kirk J Evans Budget Manager Date * In accordance with 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.