HomeMy WebLinkAboutAgenda Report - February 16, 2011 C-03AGENDA ITEM C 0'3
Ah CITY OF LODI
COUNCIL COMMUNICATION
AGENDA TITLE: Accept the Quarterly Investment Report as Required by Government Code Section
53646 and the City cf Lodi Investment Policy
MEETING DATE: February 16,2011
PREPARED BY: Deputy City Manager
RECOMMENDED ACTION: Accept the quarterly investment report as required by Government
Code Section 53646 and the City cf Lodi Investment Policy.
BACKGROUND INFORMATION: Government Code Section 53646 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 December 31, 2010 is $66,250,156.51. The
average annualized return on all invested funds over the quarter has been 0.48 percent.
FISCAL IMPACT:
FUNDING AVAILABLE:
Attachment
Not applicable.
As per attached report.
Jordan Ayers
Treasurer
APPROVED:
onradt Bartlam, City Manager
' CITY OF LODI
INTERNAL SERVICES DEPARTMENT
BUDGET DIVISION
December 31,2010 INVESTMENT STATEMENT
Local Agency Investment Funds* 82.8% of Portfolio
Average interest earnings as of 12-31-10 0.48%
LODI Local Agency Inv Fund (LODI) 30,793,230.10
LPIC LocalAgency Inv Fund (LPIC) 24,095,720.49
Subtotal LAW 54,888,950.59
Certificates of Deposit
matures 03/08/2011
matures 03/03/2011
Passbook/C heck! ng Accounts
Farmers & Merchants
Farmers & Merchants- Money Mkt.
Farmers & Merchants - Payroll
Farmers& Merchants- Central Plume
Farmers & Merchants - CP Money Mkt.
0.8% of Portfolio
Bank of Ag. & Comm. (cost) 1.21% int.
UMPQUA Bank (cost) 1.26% int.
Subtotal CD
16.4% of Portfolio
demand account- no interest earnings
0.55% interest earnings
demand account - no interest earnings
demand account- no interest earnings
0.55% interest earnings
Subtotal PIC Accts
TOTAL
250,000.00
250,000.00
500,000.00
**1,651,902.84
1,891,978.50
54,345.45
9,191.40
7,253,787.73
10,861,205.92
$66,250,156.51
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.
X19
Date
anagement Analyst
*In accordance with the terms of the Local Agency Investment Fund, invested funds maybe utilized on
the same day if transaction is initiated before 10;00 a.m.
** This amount is a compensating balance required to obtain an earnings credit rate.