HomeMy WebLinkAboutAgenda Report - August 20, 2008 E-03I�
AGENDA ITEM F
• CITY OF LODI
COUNCIL COMMUNICATION
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AGENDA TITLE: Accept the Quarterly Investment Report as Required by Senate Bill 564
MEETING DATE:
PREPARED BY:
August 20,2008
City Manager
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 requirethat
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 the quarter ending June 30, 2008 is $67,939,864.08. The average
return on all investedfunds over this quarter has been 2.95%.
FISCAL IMPACT:
FUNDING AVAILABLE:
Attachment
N/A
As per attached report.
Blair King
City Manager
APPROVED:
Blair ' , City Manager
CITY OF LODI
INTERNAL SERVICES DEPARTMENT
BUDGET DIVISION
June 30,2008 INVESTMENT STATEMENT
Local Agency Investment Funds*
Average interest earnings as of 6/30 -
LODI
LPIC
Certificates of Deposit
SYS76WEST - matures 4/17/09
SYS75 - matures 12/19/08
Farmers & Merchants -matures 8/27/08
Passbook/Checking Accounts
Farmers & Merchants
Farmers & Merchants - Money Mkt.
Farmers & Merchants - Payroll
Farmers & Merchants -Central Plume
Farmers & Merchants - CP Money Mkt.
71.7% of Portfolio
3.11%
Local Agency Inv Fund (LODI)
Local Agency Inv Fund (LPIC)
Subtotal LAIF
0.4% of Portfolio
Bank of the West (cost) 1.70% int.
Bank of America (cost) 3.7% int.
Farmers & Merchants (cost) 2.0% int.
Subtotal CD
27.9% of Portfolio
demand account -no interest earnings"
2.24% interest earnings
demand account - no interest earnings
demand account - no interest earnings
2.24% interest earnings
Subtotal PICAccts
TOTAL
30,713,791.35
17,969,526.77
48,683,318.12
100,000.00
100,000.00
1001000.00
300,000.00
6,856,947.51
3, 705, 567.59
37,930.45
14,231.97
8.341.868.44
18,956,545.96
67,939,864.08
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.
a l3�
irk J Evans Date
, Budget Manager
* 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.
On June 30, 2008 the City received $6,000,000 from LAIF. This amount is included in the account
balance for the end of that day. On July 1, 2008, the City wired $6,557,213.07 to the Bank of New York
to cover debt service payments for Electric Utility bond issues A, C, D.