HomeMy WebLinkAboutAgenda Report - May 7, 1997 (82)4 a 4
4
4
CITY OF L0DI COUNCIL COMMUNICATION
AGENDA TITLE: Investment Account Disclosure
MEETING DATE: May 7, 1997
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
APPROVED: C/ A
7 H. Dixon Flynn -- City Manager
04/10/1997
INVESTMENTS
City of Lodi
PORTFOLIO MASTER SUMMARY
MARCH 31, 1997
PM - 1
CITY
ACCRUAL
AVERAGE ---YIELD TO MATURITY ---
PERCENT OF AVERAGE DAYS TO 360 365
BOOK VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT
Local Agency Investment Funds $ 22,011,000.00 79.75 1 1 5.507 5.583
Certificates of Deposit - Bank $ 1,300,000.00 4.71 365 250 5.113 5.184
Passbook/Checking Accounts $ 1,289,356.10 4.67 1 1 1.252 1.269
Federal Agency Issues - Coupon $ 2,000,000.00 7.25 822 811 6.199 6.285
Treasury Securities - Coupon $ 999,054.36 3.62 1,325 243 6.074 6.158
TOTAL INVESTMENTS and AVERAGES $ 27,599,410.46 100.00% 126 80 5.360% 5.434%
TOTAL EARNINGS
Current Year
AVERAGE DAILY BALANCE
EFFECTIVE RATE OF RETURN
Maxine Cadwallader
D. -7,71y Treasurer
/o -97
DATE
i
MONTH ENDING FISCAL
MARCH 31 YEAR TO DATE
$ 132,186.36 $ 1,271,274.63
$ 29,278,630.73 $ 31,760,919.26
5.32% 5.33%
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.
04/10/1997
City of Lodi PM - 2
INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY
MARCH 31, 1997 ACCRUAL
?STMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS
;NEER ISSUER BALANCE DATE BOOK VALUE 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 24,514,225.81
11,138,000.00 11,138,000.00 11,138,000.00 5.583 5.507 5.583
10,873,000.00 10,873,000.00 10,873,000.00 5.583 5.507 5.583
22,011,000.00 22,011,000.00
22,011,000.00
1
1
5.507 5.583 1
CERTIFICATES OF DEPOSIT - BANK
2074 Central Sierra Bank 08/27/96 100,000.00 100,000.00 100,000.00 4.950 4.950 5.019 08/27/97 148
2069 Farmers and Merchants Bank 12/20/96 1,000,000.00 1,000,000.00 1,000,000.00 5.050 5.050 5.120 12/20/97 263
2066 Bank of Lodi 10/11/96 100,000.00 100,000.00 100,000.00 5.300 5.300 5.374 10/11/97 193
2070 Stockton Savings Bank 01/10/97 100,000.00 100,000.00 100,000.00 5.720 5.720 5.799 01/09/98 283
SUBTOTALS and AVERAGES 1,300,000.00
1,300,000.00 1,300,000.00
1,300,000.00
5.113 5.184 250
PASS300K/CHECKING ACCOUNTS
4003 Bank of America 205,827.35 205,827.35 205,827.35 0.000 0.000 0.000 1
4000 Farmers & Merchants 1,083,528.75 1,083,528.75 1,083,528.75 1.510 1.489 1.510 1
SUBTOTALS and AVERAGES 1,723,473.45
1,289,356.10 1,289,356.10
1,289,356.10
1.252 1.269 1
f71.ERAL AGENCY ISSUES - COUPON
`, FEDL HOME LOAN MTG CORP 03/17/97 1,000,000.00 1,000,000.00 989,690.00 6.000 6.000 6.083 03/17/99 715
Everen Securities, Inc 03/24/97 1,000,000.00 1,000,000.00 993,590.00 6.397 6.397 6.486 09/24/99 906
SUBTOTALS and AVERAGES 741,935.48
2,000,000.00 1,983,280.00
2,000,000.00
6.199 6.285 811
TREASURY SECURITIES - COUPON
8007 U. S. Treasury Notes 04/15/94 999,054.36 1,000,000.00 1,000,310.00 6.000 6.074 6.158 11/30/97 243
AVERAGES 998,995.99
TOTAL INVESTMENTS and AVG.
$ 27,599,410.46 27,583,946.10
29,278,630.73 27,600,356.10 5.360% 5.434% 80
04/10/1997
City of Lodi PM - 3
PORTFOLIO MASTER IIv'VESTMENT ACTIVITY BY TYPE CITY
MARCH 1, 1997 - MARCH 31, 1997 ACCRUAL
STATED TRANSACTION PURCHASES SALES/MATURITIES
INVESTMENT t( ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE
LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary)
1000 Local Agency Invest. Fund 5.583 2,700,000.00
1001 Local Agency Inv Fund (LPIC) 5.583 1,550,000.00
SUBTOTALS and ENDING BALANCE 0.00 4,250,000.00
CERTIFICATES OF DEPOSIT - BANK
22,011,000.00
1,300,000.00
PASSBOOK/CHECKING ACCOUNTS (Monthly Summary)
4003 Bank of America 0.000 1,491,746.56 1,919,784.17
4000 Farmers & Merchants 1.510 8,229,426.97 7,950,305.68
SUBTOTALS and ENDING BALANCE 9,721,173.53 9,870,089.85 1,289,356.10
FEDERAL AGENCY ISSUES - COUPON
8008 FEDL HOME LOAN MTG CORP 6.000 03/17/1997 1,000,000.00
8009 Everen Securities, Inc 6.397 03/24/1997 1,000,000.00
.-:.SUBTOTALS and ENDING BALANCE 2,000,000.00 0.00 2,000,000.00
TREASURY SECURITIES - COUPON
999,054.36
TOTALS 11,721,173.53
14,120,089.85 27,599,410.46
04/10/1997
PM - 4
City of Lodi CITY
INVESTMENT ACTIVITY SUMMARY ACCRUAL
MARCH 1996 through MARCH 1997
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 96 15 26,875,161.88 5.219 5.291 5.557 0 0 150 57
April 96 13 26,507,215.46 5.283 5.357 5.538 0 1 151 52
May 96 13 26,748,608.30 5.318 5.391 5.538 0 0 150 46
June 96 13 27,551,636.62 5.190 5.262 5.502 0 0 145 40
July 96 12 29,421,179.58 5.215 5.289 5.502 1 2 136 34
August 96 11 31,739,617.53 5.307 5.381 5.587 1 2 126 28
September 96 11 31,287,025.85 5.363 5.438 5.566 0 0 128 25
October 96 12 31,704,819.78 5.376 5.451 5.570 1 0 127 21
November 96 11 31,059,091.95 5.372 5.446 5.601 0 1 95 18
December 96 11 32,127,489.83 5.340 5.414 5.599 1 3. 92 25
January 97 10 31,440,895.77 5.256 5.329 5.580 1 2 93 24
February 97 9 29,998,206.15 5.284 5.358 5.583 0 1 61 22
March 97 11 27,599,410.46 5.360 5.434 5.583 2 0 126 80
AVERAGES 12 $ 29,543,104.55 5.299% 5.372% 5.5624- 1 1 122 36
04/10/1997
MONTH
END
City of Lodi
DISTRIBUTION OF INVESTMENTS BY TYPE
MARCH 1996 through MARCH 1997
YEAR LA1 BCD SCD PA1
TYPES OF INVESTMENTS
PM - 5
CITY
ACCRUAL
BAC CPI COM RPA FAC FAD TRC TRD GN1
March
April
May
June
July
August
96 78.9 6.0 4.0
96 80.4 5.7 2.6
96 81.4 5.6 1.8
96 79.7 5.4 4.0
96 81.1 4.8 3.9
96 83.5 4.1 3.0
September 96 84.7 4.2 1.6
October 96 84.8 4.4 1.3
November 96 86.1 4.5 3.0
December 96 85.7 4.4 3.7
January 97 84.6 4.1 4.9
ary 97 87.5 4.3 4.8
March 97 79.8 4.7 4.7
11.2
11.3
11.2
10.9
10.2
9.4
9.6
9.5
6.4
6.2
6.4
3.3
7.3 3.6
AVERAGES 82.9% 4.8% 3.3%
0.6% 8.4%
LA1 - Local Agency Investment Funds
SCD - Certificates of Deposit - S & L
BAC - Bankers Acceptances
COM - Commercial Paper.- Discount
FAC - Federal Agency Issues - Coupon
TRC - Treasury Securities - Coupon
GN1 - Mortgage Backed Securities
BCD
PA1
CPI
RPA
FAD
TRD
- Certificates of Deposit - Bank
- Passbook/Checking Accounts
Commercial Paper - Interest Bearing
Repurchase Agreements
Federal Agency Issues - Discount
- Treasury Securities - Discount
04/10/1997
PM - 6
City of Lodi CITY
INTEREST EARNINGS SUMMARY ACCRUAL
MARCH 31, 1997
MONTH ENDING FISCAL
MARCH 31, 1997 YEAR TO DATE
CD/Coupon/Discount Investments:
Interest Collected $ 1,242.84 $ 138,034.14
PLUS Accrued Interest at End of Period 37,647.59 37,647.59
LESS Accrued Interest at Beginning of Period ( 24,479.54) ( 29,297.67)
Interest Earned during Period $ 14,410.89 146,384.06
ADJUSTED by Premiums and Discounts
ADJUSTED by Capital Gains or Losses
120.63 2,158.20
0.00 0.00
Earnings during Period 14,531.52 $ 148,542.26
Mortgage Backed Securities:
Interest Collected
PLUS Accrued Interest at End of Period
LESS Accrued Interest at Beginning of Period
0.00
0.00
0.00)
0.00
0.00
0.00)
Interest Earned during Period $ 0.00 0.00
ADJUSTED by Premiums and Discounts
ADJUSTED by Capital Gains or Losses
0.00 0.00
0.00 0.00
Earnings during Period 0.00 $ 0.00
Cash/Checking Accounts:
Interest Collected $ 1,196.00 $ 1,055,315.63
PLUS Accrued Interest at End of Period 372,403.70 372,403.70
LESS Accrued Interest at Beginning of Period ( 255,944.86) ( 304,986.96)
Interest Earned during Period $ 117,654.84 $ 1,122,732.37
TOTAL Interest Earned during Period $ 132,065.73 $ 1,269,116.43
TOTAL Ajustments from Premiums and Discounts $ 120.63 $ 2,158.20
TOTAL Capital Gains or Losses $ 0.00 $ 0.00
TOTAL Earnings during Period $ 132,186.36 $ 1,271,274.63
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
$22,011,000.00
$1,300,000.00
$1,289,356.10
$999,054.36
$2,000,000.00
$27,599,410.46
MARCH 1997
Percent of Portfolio
79.751704%
4.710246%
4.671680%
3.619839%
7.246532%
100.00%
$2,000,000.00
$999,054.36 Federal Agency Issues -
Treasury Securities -
Coupon
$1,289,356.10
Passbook/Chercking
Accounts
5%
$1,300,000.00
Certificates of Deposit -
Bank
5%
Coupon
11$22,011,000.00
Local Agency Investment Fund
Maximum Maturity
Indefinite
5 years
Indefinite
5 years
5 years
$22,011,000.00
Local Agency Investment
Fund
80%
0$1.300,000.00
Certificates of Deposit - Bank
05999,054.36 ID $2,000,000.00
Treasury Securities - Coupon Federal Agency Issues - Coupon
ES1$1 .289,356.10
Passbook/Chercking Accounts
POOLED MONEY INVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF FEBRUARY 1997 WITH FEBRUARY 1996
(Dollars in Thousands)
Average Daily Portfolio
Accrued Earnings
Effective Yield
Average Life --Month End (in days)
Total Security Transactions
FEBRUARY • 1997
$30,379,056
$129,929
5.575
$28,484,590
$127,371
5.643
+$1,894,466
+$2,558
- .068
260 263 -3
Amount $21,643,428 $19,469,454 + $2,173,974
Number 502 468 + 34
Total Time Deposit Transactions
Amount $450,700 $242,400 + $208,300
Number 38 23 + 15
Average Workday Investment Activity $1,227,451 $1,037,466 + $189,985
Prescribed Demand Account Balances
For Services $139,307 $129,388 + $9,919
For Uncollected Funds $194,631 $152,210 + $42,421
LOCAL AGENCY INVESTMENT FUND*
SUMMARY OF ACTIVITY
FERRTJARY 1997
BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE
$11,207,472,713.95 $899,691,000.00 $1,007,547,448.33 $11,099,616,265.62
*Local Agency Investment Fund Invested Through Pooled Money Investment Account
Description
State of California
Pooled Money Investment Account
Market Valuation
2/28/97
Carrying Cost Plus
Accrued Interest Purch.
(United States Treasury:
1 Bills
1 Strips
1 Notes
Federal Agency:
Bonds
Floaters
MBS
GNMA
SBA
FHLMC PC
Discount Notes
Bankers Acceptances
Corporate:
Bonds
Floaters
CDs
Bank Notes
Repurchase Agreements
Time Deposits
AB 55 & GF Loans
Commercial Paper
Reverse Repurchase
'TOTAL
Estimated Market Value
2,066,058,429.89
121,604,450.00
5,839,576,934.39
908,826,141.87
319,979,989.05
158,535,331.13
3,364,914.06
200,806,659.28
30,756,722.94
584,313,625.07
$ 403,196,826.01 $
$ 1,541,613,709.13 $
$ 500,695,656.16 $
$ 7,582,668,642.05 $
$ 566,002,556.84 $
$ $
$ 485,095,000.00 $
$ 1,751,229,161.00 $
$ 6,188,686,524.51 $
$ (394,500,000.00) $
$ 28,858,511,273.38
Estimated
Market Value
Accrued Interest
2,130,134,510.00
146.403,200.00
5,789,493,130.00 $
905,017,519.40 $
320,153,700.00 $
155,157,284.03 $
3,807,460.29 $
202,577,373.47 $
33,011,527.41 $
595,175,500.00
403,472,690.92
1,537,010,143.37 $
500,705,732.50 $
7,580,003,909.00 $
565,790,841.45 I $
485,095,000.00 I
1,751,229,161.00 I
6,200,659,026.39 I
1
(394,500,000.00)1 $
I
$ 28,910,397,709.23 1 $
Including Accrued Interest $ 29,039,821,700.30
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.
NOTE: Market Valuation dated 3/31/96 has been corrected for an error in the market
value of SBA securities. Estimated market value of SBA's was adjusted by + $3,807,997.19
NA
NA
41,168,943.77
10,887,383.08
3,318,288.00
936,602.14
32,425.05
2,006,077.83
493,965.80
NA
NA
28,380,550.15
6,225,710.22
29,230,705.02
7,764,978.90
NA
NA
NA
NA
(1,021,638.89)
129,423,991.06