HomeMy WebLinkAboutAgenda Report - May 5, 2010 D-03I
AGENDA ITEM
A% CITY OF LODI
COUNCIL COMMUNICATION
TM
AGENDA TITLE: Accept the Quarterly Investment Report as Required by Government Code Section
53646 and the City of Lodi Investment Policy
MEETING DATE: May 5,2010
PREPARED BY: Deputy City Manager
RECOMMENDED ACTION: Accept the quarterly investment report as required by Government
Code Section 53646 and the City of 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 March 31, 2010 is $73,379,468.48.
The average annualized return on all invested funds over the quarter has been 0.58 percent.
FISCAL IMPACT: NIA
FUNDING AVAILABLE: As per attached report.
Attachment
I
mg
Treasurer
APPROVED:
Blai anager
t
CITY OF LODI
INTERNAL SERVICES DEPARTMENT
BUDGET DIVISION
March 31,2010 INVESTMENT STATEMENT
Local Agency Investment Funds* 77.9% of Portfolio
Average interest earnings as of 03-31-10 0.55%
LODI Local Agency Inv Fund (LODI) 33,158,925.63
LPIC Local Agency Inv Fund (LPIC) 23,998,356.25
Subtotal LAW 57,157,281.88
Certificates of Deposit
matures 03/08/2011
matures 03/03/2011
Passbook/Checking Accounts
Farmers& Merchants
Farmers& Merchants- Money Mkt.
Farmers& Merchants- Payroll
Farmers& Merchants- Central Plume
Farmers& Merchants- CP Money Mkt.
0.7% of Portfolio
Bank of Ag. & Comm. (cost) 1.21% int. 250,000.00
UMPQUA Bank (cost) 1.26% int. 250,000.00
Subtotal CD 500,000.00
21.4% of Portfolio
demand account - no interest earnings **2,321,928.17
0.72% interest earnings 5,376,558.72
demand account - no interest earnings 36,450.99
demand account - no interest earnings 9,257.87
0.72% interest earnings 7,977,990.85
Subtotal PIC Accts 15,722,186.60
TOTAL 73,379,468.48
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.
s 04/16/10
r J Evans Date
'Management Analyst
* 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.
** This amount is a compensating balance, subject to an earnings credit rate of 1%, which offsets bank
service charges.