HomeMy WebLinkAboutAgenda Report - April 15, 1998 (68)4 IL 4
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CITY OF LODI COUNCIL COMMUNICATION
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AGENDA TITLE: Investment Account Disclosure
MEETING DATE: April 15, 1998
PREPARED BY: Deputy Treasurer
RECOMMENDED ACTION:
That the City Council by motion/action accept the
quarterly report of the City of Lodi pooled money
investment account as required by SB564.
BACKGROUND INFORMATION: The investment report is currently included in the
monthly executive report distributed to Council.
SB564 required local agency treasurers to submit a
report on investments at a public meeting. The City of
Lodi has an investment policy which is submitted to council for approval on an annual basis. Copies of the
policy are available in the Finance Department. In addition to the quarterly report on investments in the City
of Lodi pooled money investment account, a breakdown Treasury Inventory by type has been included in a
chart format. Also included is the most current report of the Local Agency Summary of Investment Data and
the State of California pooled money investment account market valuation.
The City of Lodi maintains membership in the California Municipal Treasurers Association and conforms to
guide lines set forth by the CMTA investment report committee. The Finance Department will continue to
include the investment report monthly as part of the executive report.
FUNDING: None.
Vicky McAthie
Finance Director/Treasurer
� r
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APPROVED:
-4,za
H. Dixon Flynn -- Cify Manager
POOLED MONEY INVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF FEBRUARY 1998 WITH FEBRUARY 1997
(Dollars In Thousands)
Average Daily Portfolio
Accrued Earnings
Effective Yield
Average Life—Month End (in days)
Total Security Transactions
$31,140,429
$136,647
5.720
'f Ri3Ai;Y 1
$30,379,056
$129,929
5.575
+ $761,373
+ $6,718
+ .145
207 260 - 53
Amount $28,614,910 $21,643,428 +$6,971,482
Number 633 502 +131
Total Time Deposit Transactions
Amount $806,200 $450,700 + $355,500
Number 47 38 + 9
Average Workday Investment Activity $1,634,506 $1,227,451 +$407,055
Prescribed Demand Account Balances
For Services
For Uncollected Funds
$230,513 $139,307 + $91,206
$160,258 $194,631 - $34,373
LOCAL AGENCY INVESTMENT FUND*
SUMMARY OF ACTIVITY
FEBRUARY 1998
BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE
$11,354,332,644.45 $987,609,000.00 $936,935,090.45 $11,405,006,554.00
*Local Agency Investment Fund Invested Through Pooled Money Investment Account
State of California
Pooled Money Investment Account
Market Valuation
2/28/98
United States Treasury:
Bills
Strips
Notes
Federal Agency:
Bonds
Floaters
MBS
GNMA
SBA
FHLMC PC
Discount Notes
Bankers Acceptances
Corporate:
1 Bonds
1 Floaters
1CDs
Bank Notes
Repurchase Agreements
Time Deposits
AB 55 & GF Loans
Commercial Paper
2,563,542,117.81 $
73,184,450.00 $
5,134,844,231.06 $
1,593,911,758.03 $
265,000,000.00 $
141,232,317.66 $
2,497,152.33 $
229,127,242.68 $
24,309,320.98 $
1,105,132,495.34 $
2,601,988,888.80
93,984,750.00
5,138,525,840.00
1,593,264,304.70
264,972,450.00
141,019,278.00
2,895,066.60
230,457,445.21
26,018,922.89
1,125,519,952.50
329.100.821.85 $ 329.227.786.29
945,153,839.97 $
530,157,560.87 $
$ 6,463,216,592.45 $
$ 1,075,000,000.00 $
$ $
$ 1,222,295,000.00 $
$ 1,346,448,930.00 $
$ 7.221.958.046.25 $
Reverse Repurchase $
TOTAL
(245,700,000.00) $
$ 30,020,411,877.28 $
944,646,984.00
529,719,215.00
6,457,790,444.37
1,074,636,389.75
1,222,295,000.00
1,346,448,930.00
7.230.610.784.07
NA
NA
43,953,553.72
19,672,222.92
1,791,862.40
833,462.73
24,606.31
2,291,902.97
390,311.89
NA
NA
$ 20,347,967.33
$ 4,280,418.71
$ 57,728,313.87
$ 12,119,722.24
NA
NA
NA
NA
(245,700,000.00) ($1,729,296.25)
30,108,322,432.18 $ 161,705,048.85
Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and
Reverse Repurchase agreements are carried at portfolio book value (carrying cost).
Certificates of Deposit (CDs), Bank Notes (BNs), and Commercial Paper (CPs) less
than 90 days are carried at portfolio book value (carrying cost). Interest accrued
from the date of purchase on CDs and BNs under 90 days is not included.
04/03/1998
INVESTMENTS
City of Lodi
PORTFOLIO MASTER SUMMARY
MARCH 31, 1998
HOOK VALUE
PERCENT OF
PORTFOLIO
AVERAGE
AVERAGE DAYS TO
TERM MATURITY
PM - 1
CITY
ACCRUAL
---YIELD TO MATURITY ---
360 365
EQUIVALENT EQUIVALENT
Local Agency Investment Funds
Certificates of Deposit - Bank
Passbook/Checking Accounts
$ 15,240,000.00
$ 1,300,000.00
$ 1,506,232.65
Federal Agency Issues - Coupon $ 1,500,000.00
77.97
6.65
7.71
7.67
1
366
1
1,096
1
254
1
1,004
5.642 5.720
5.049 5.119
0.842 0.854
6.060 6.145
TOTAL INVESTMENTS and AVERAGES $ 19,546,232.65 100.00%
TOTAL EARNINGS
Current Year
AVERAGE DAILY BALANCE
EFFECTIVE RATE OF RETURN
Maxine Cadwallader
Deputy Treasurer
DATE
MONTH ENDING
MARCH 31
$ 97,795.23
$ 21,481,716.52
5.36%
109
FISCAL
YEAR TO DATE
$ 868,149.27
$ 21,722,780.16
5.32%
95
5.265%
5.338%
Based on the approved budget and to the extent the budget is adhered to,
liquidity is available for the next three to six months. Union Bank of
California is the source of market valuation.
04/03/1998
INVESTMENT
NUMBER
ISSUER
City of Lodi
INVESTMENT PORTFOLIO DETAILS - INVESTMENTS
MARCH 31, 1998
AVERAGE PURCHASE
BALANCE DATE BOOK VALUE
PM - 2
CITY
ACCRUAL
STATED --- YTM --- MATURITY DAYS
FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT
LOCAL AGENCY INVESTMENT FUNDS
1000 Local Agency Invest. Fund
1001 Local Agency Inv Fund (LPIC
SUBTOTALS and AVERAGES 17,175,483.87
CERTIFICATES OF DEPOSIT - BANK
2075 Central Sierra Bank
2072 Farmers and Merchants
2062 Bank of Lodi
2071 Stockton Savings Bank
09/15/97
Bank 12/20/97
10/24/97
01/09/98
SUBTOTALS and AVERAGES 1,300,000.00
PASSBOOK/CHECKING ACCOUNTS
4003
4000
Bank of America
Farmers & Merchants
SUBTOTALS and AVERAGES 1,506,232.65
FEDERAL AGENCY ISSUES - COUPON
8010 Feredal Home Loan Bank (cal 11/24/97
8011 Feredal Home Loan Bank (cal 12/22/97
8012 Feredal Home Loan Bank (cal 02/12/98
SUBTOTALS and AVERAGES 1,500,000.00
TOTAL INVESTMENTS and AVG.
11,340,000.00 11,340,000.00 11,340,000.00 5.720 5.642 5.720
3,900,000.00 3,900,000.00 3,900,000.00 5.720 5.642 5.720
15,240,000.00 15,240,000.00
15,240,000.00
100,000.00
1,000,000.00
100,000.00
100,000.00
100,000.00
1,000,000.00
100,000.00
100,000.00
100,000.00
1,000,000.00
100,000,00
100,000.00
1,300,000.00
654,314.39
851,918.26
1,300,000.00
1,300,000.00
4.300
5.050
5.200
5.640
5.642 5.720
4.300
5.050
5.200
5.640
4.360 09/15/98 167
5.120 12/21/98 264
5.272 10/26/98 208
5.718 01/11/99 285
5.049 5.119 254
654,314.39 654,314.39 0.000 0.000 0.000
851,918.26 851,918.26 1.510 1.489 1.510
1,506,232.65
500,000.00
500,000.00
500,000.00
1,506,232.65
500,000.00
500,000.00
500,000.00
1,506,232.65
0.842 0.854
500,000.00 6.120 6.036
500,235.00 6.145 6.145
497,810.00 6.000 6.000
1,500,000.00
1,500,000.00
1,498,045.00
6.120 11/24/00
6.230 12/22/00
6.083 02/12/01
968
996
1,048
6.060 6.145 1,004
21,481,716.52
$ 19,546,232.65 19,544,277.65
19,546,232.65
5.265* 5.338t 95
04/03/1998
City of Lodi PM - 3
PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY
MARCH 1, 1998 - MARCH 31, 1996 ACCRUAL
STATED TRANSACTION PURCHASES SALES/MATURITIES
TYPE INVESTMENT # ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE
LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary)
1000 Local Agency Invest. Fund 5.720
1001 Local Agency Inv Fund (LPIC) 5.720 1,500,000.00 3,000,000.00
SUBTOTALS and ENDING BALANCE
CERTIFICATES OF DEPOSIT - BANK
PASSBOOK/CHECKING ACCOUNTS (Monthly Summary)
4003 Bank of America
4000 Farmers & Merchants
0.000
1.510
1,500,000.00 3,000,000.00
SUBTOTALS and ENDING BALANCE 0.00
FEDERAL AGENCY ISSUES - COUPON
15,240,000.00
1,300,000.00
0.00 1,506,232.65
1,500,000.00
TOTALS 1,500,000.00 3,000,000.00 19,546,232.65
04/03/1998
PM - 4
City of Lodi CITY
INVESTMENT ACTIVITY SUMMARY ACCRUAL
MARCH 1997 through MARCH 1998
YIELD TO MATURITY MANAGED NUMBER OF NUMBER OF AVERAGE
MONTH NUMBER OF TOTAL 360 365 POOL SECURITIES SECURITIES AVERAGE DAYS TO
END YEAR SECURITIES INVESTED EQUIV EQUIV RATE PURCHASED MATURED/SOLD TERM MATURITY
March 97 11 27,599,410.46 5.360 5.434 5.583 2 0 126 80
April 97 11 27,539,171.62 5.455 5.531 5.583 0 0 126 76
May 97 11 23,907,036.16 5.321 5.395 5.583 0 0 145 81
June 97 11 23,086,452.68 5.463 5.539 5.634 0 0 150 79
July 97 11 23,451,528.53 5.322 5.396 5.630 0 0 148 72
August 97 10 22,984,395.13 5.270 5.343 5.630 0 1 149 67
September 97 10 23,757,904.15 5.164 5.235 5.690 1 1 107 31
October 97 10 21,669,355.71 5.182 5.254 5.707 1 1 118 31
November 97 10 19,024,926.06 5.342 5.416 5.705 1 1 93 59
December 97 11 19,004,586.78 5.166 5.238 5.715 2 1 122 102
January 98 10 17,905,056.75 5.228 5.300 5.744 1 2 89 82
February 98 11 21,046,232.65 5.309 5.382 5.742 1 0 102 92
March 96 11 19,546,232.65 5.265 5.338 5.720 0 0 109 95
AVERAGES
11 $ 22,347,868.41 5.296$ 5.369$ 5.667$ 1 1 122 73
04/03/1998
MONTH
City of Lodi
DISTRIBUTION OF INVESTMENTS BY TYPE
MARCH 1997 through MARCH 1998
END YEAR LA1 BCD SCD PAI
TYPES OF INVESTMENTS
PM - 5
CITY
ACCRUAL
BAC CPI COM RPA FAC FAD TRC TRD GN1
March 97 79.8 4.7 4.7
April 97 82.0 4.7 2.4
May 97 76.1 5.4 5.9
June 97 78.0 5.6 3.4
July 97 74.9 5.5 6.8
August 97 74.4 5.2 7.3
September 97 75.3 5.5 10.8
October 97 74.1 6.0 10.7
November 97 78.8 6.8 6.4
December 97 72.6 6.8 10.0
January 98 78.4 7.3 6.7
February 98 79.5 6.2 7.2
March 98 78.0 6.7 7.7
7.3 3.6
7.3 3.6
8.4 4.2
8.7 4.3
8.5 4.3
8.7 4.4
4.2 4.2
4.6 4.6
7.9
10.5
5.6
7.1
7.7
AVERAGES 77.1% 5.9% 7.1%
LA1
SCD
BAC
COM
FAC
TRC
GN1
Local Agency Investment Funds
Certificates of Deposit - S & L
- Bankers Acceptances
Commercial Paper - Discount
Federal Agency Issues - Coupon
Treasury Securities - Coupon
- Mortgage Backed Securities
7.4% 2.6%
BCD - Certificates of Deposit - Bank
PA1 - Passbook/Checking Accounts
CPI - Commercial Paper - Interest Bearing
RPA - Repurchase Agreements
FAD - Federal Agency Issues - Discount
TRD - Treasury Securities - Discount
04/03/1998
PM - 6
City of Lodi CITY
INTEREST EARNINGS SUMMARY ACCRUAL
MARCH 31, 1998
MONTH ENDING FISCAL
MARCH 31, 1998 YEAR TO DATE
CD/Coupon/Discount Investments:
Interest Collected $ 1,625.87 $ 163,675.69
PLUS Accrued Interest at End of Period 36,648.59 36,648.59
LESS Accrued Interest at Beginning of Period ( 25,011.70) ( 53,582.63)
Interest Earned during Period $ 13,262.76 146,741.65
ADJUSTED by Premiums and Discounts 0.00 591.51
ADJUSTED by Capital Gains or Losses 0.00 0.00
Earnings during Period 13,262.76 $ 147,333.16
Mortgage Backed Securities:
Interest Collected $ 0.00 $ 0.00
PLUS Accrued Interest at End of Period 0.00 0.00
LESS Accrued Interest at Beginning of Period ( 0.00) ( 0.00)
Interest Earned during Period $ 0.00 0.00
ADJUSTED by Premiums and Discounts 0.00
ADJUSTED by Capital Gains or Losses 0.00
0.00
0.00
Earnings during Period 0.00 $ 0.00
Cash/Checking Accounts:
Interest Collected $ 0.00 $ 778,214.00
PLUS Accrued Interest at End of Period 234,814.48 234,814.48
LESS Accrued Interest at Beginning of Period ( 150,282.01) ( 292,212.37)
Interest Earned during Period $ 84,532.47 $ 720,816.11
TOTAL Interest Earned during Period $ 97,795.23 $ 867,557.76
TOTAL Ajustments from Premiums and Discounts $ 0.00 $ 591.51
TOTAL Capital Gains or Losses $ 0.00 $ 0.00
TOTAL Earnings during Period $ 97,795.23 $ 868,149.27
Tyne of Security
Local Agency Investment Fund
Certificates of Deposit - Bank
Passbook/Chercking Accounts
Treasury Securities - Coupon
Federal Agency Issues - Coupon
BREAKDOWN OF TREASURY INVENTORY
BY TYPE
Amount
$15,240,000.00
$1,300,000.00
$1,506,232.50
$0.00
$1,500,000.00
$19,546,232.50
March 1998
Percent of'Portfolio
77.968990%
6.650898%
7.705999%
0.000000%
7.674113%
100.00%
$0.00 $1,500,000.00
Treasury SecuritiesFederal Agency Issues -
Coupon Coupon
$1,506,232.50 0%
Passbook/Chercking
Accounts
8%
$1,300,000.00
Certificates of Deposit -
Bank
7%
e$15,240,000.00
Local Agency Investment Fund
9$0.00
Treasury Securities - Coupon
Maximum Maturity_
Indefinite
5 years
Indefinite
5 years
5 years
$15,240,000.00
Local Agency Investment
Fund
78%
0$1,300,000.00
Certificates of Deposit - Bank
9 $1,500,000.00
Federal Agency Issues - Coupon
®$1,506,232.50
Passbook/Chercking Accounts