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.