The URL can be used to link to this page

Home My WebLink AboutAgenda Report - May 15, 1996 (76)AGENDA TITLE: Investment Account Disclosure MEETING DATE: May 15, 1996 PREPARED BY: Deputy Treasurer RECOMMENDED ACTION: That the City Council by motionlaction accept the first 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 requires local agency treasurers to submit a report on investments at a public meeting. This report must include a written statement of Investment Policy and a quarterly report on investments in the Pooled Money Investment Account. A copy of the Investment Policy has been included in the packet as required, but no changes have been made since adoption. The California Municipal Treasurer's Association (CMTA) has formed a committee to examine SB564 in an attempt to clarify the intent of some of the language. The City of Lodi maintains membership in CMTA and as guide lines are set forth by the CMTA committee, future reports may differ in format and/or content. The Finance Department will continue to include the investment report monthly as part of the executive report. FUNDING: None. � s M `uzlt Vicky McAthie Finance Director/Treasurer APPROVED: H. Dixon Flynn -- City Mana er 04/22/1996 City of Lodi PORTFOLIO MASTER SUMMARY MARCH 31, 1996 I.. PM - 1 CITY ACCRUAL �, //( 0 "& I�GLt Based on the approved budget and to AVERAGE ---YIELD TO MATURITY --- liquidity is available for the next PERCENT OF AVERAGE DAYS TO 360 365 INVESTMENTS ------------------------------------------------------------------------------------------------------------------------------------ BOOK VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT Local Agency Investment Funds ................$ 21,198,506.01 78.88 1 1 5.566 5.643 Certificates of Deposit - Bank ...............$ 1,60D,000.00 5.95 308 214 5.014 5.083 Passbook/Checking Accounts ...................$ 1,080,713.93 4.02 1 1 0.681 0.690 Treasury Securities - Coupon .................$ 2,995,939.94 11.15 1,169 385 5.110 5.181 ------------------------------------------------------------------------------ TOTAL INVESTMENTS and AVERAGES .............$ 26,875,161.88 100.00% 150 57 5.286% 5.359% MONTH ENDING FISCAL TOTAL EARNINGS MARCH 31 YEAR TO DATE Current Year $ 126,710.70 $ 1,177,662.38 AVERAGE DAILY BALANCE $ 27,497,762.06 $ 29,490,624.72 EFFECTIVE RATE OF RETURN 5.43% 5.30% �, //( 0 "& I�GLt Based on the approved budget and to the extent the budget is adhered to, Maxine Cadwallader liquidity is available for the next three to six months. Deputy Treasurer DATE 04/22/1996 City of Lodi PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1996 ACCRUAL ,ESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT ---------------------------------------------------------------------------------------------------------------------------------- LOCAL AGENCY INVESTMENT FUNDS 1000 Local Agency Invest. Fund 10,485,258.01 10,485,258.01 10,485,258.01 5.643 5.566 5.643 1 1001 Local Agency Inv Fund (LPIC 10,713,250.00 10,713,250.00 10,713,250.00 5.643 5.566 5.643 1 ----------------------------------------------------------- ------ ------ ------ SUBTOTALS and AVERAGES 22,056,403.48 21,198,508.01 21,198,508.01 21,198,508.01 5.566 5.643 1 CERTIFICATES OF DEPOSIT - BANK 8005 U. S. Treasury Notes 11/24/93 998,951.24 1,000,000.00 993,750.00 2067 Bank of Stockton 10/31/95 100,000.00 100,000.00 100,000.00 5.000 5.000 5.069 04/29/96 28 2078 Central Sierra Bank 02/26/96 100,000.00 100,000.00 100,000.00 4.550 4.550 4.613 08/26/96 147 2049 Farmers and Merchants Bank 12/20/95 1,000,000.00 1,000,000.00 1,000,000.00 5.100 5.100 5.171 12/20/96 263 2065 First Interstate Bank 01/02/96 100,000.00 100,000.00 100,000.00 4.650 4.650 4.715 07/03/96 93 2077 Bank of Lodi 02/13/96 100,000.00 100,000.00 100,000.00 5.000 5.000 5.069 08/13/96 134 2068 Stockton Savings Bank 01/09/96 100,000.00 100,000.00 100,000.00 5.520 5.520 5.597 01/09/97 283 2076 Wells Fargo Bank 01/24/96 100,000.00 100,000.00 100,000.00 4.500 4.500 4.563 07/22/96 112 ----------------- -------------- SUBTOTALS and AVERAGES 1,600,000.00 1,600,000.00 ---------------------------- 1,600,000.00 ------ ------ ------ 1,600,000.00 5.014 5.083 214 PASSBOOK/CHECKING ACCOUNTS 4003 Bank of America 639,463.62 639,463.62 639,463.62 0.000 0.000 0.000 1 4000 Farmers & Merchants 441,250.31 441,250.31 441,250.31 1.690 1.667 1.690 1 4001 Merrill Lynch 0.00 0.00 0.00 3.240 3.196 3.240 1 ----------------- . .- SUBTOTALS and AVERAGES 845,576.24 -------------- 1,080,713.93 -------------- -------------- 1,080,713.93 ------ ------ ----- 1,080,713.93 0.681 0.690 1 TREASURY SECURITIES - COUPON 8005 U. S. Treasury Notes 11/24/93 998,951.24 1,000,000.00 993,750.00 4.375 4.494 4.556 11/15/96 228 8006 U. S. Treasury Notes 02/15/94 999,354.74 1,000,000.00 993,440.00 4.750 4.764 4.830 02/15/97 320 8007 U. S. Treasury Notes 04/15/94 997,633.96 1,000,000.00 1,004,060.00 6.000 6.074 6.158 11/30/97 608 ----------------- SUBTOTALS and AVERAGES 2,995,782.33 -------------- 2,995,939.94 -------------- -------------- 2,991,250.00 ------ ------ ------ ---------------------------------------------------------------------------------------------------- 3,000,000.00 5.110 5.181 385 TOTAL INVESTMENTS and AVG. $ 26,875,161.88 26,870,471.94 27,497,762.06 26,879,221.94 5.2868 5.359% 57 04/22/1996 City of Lodi PM - 3 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY MARCH 1, 1996 - MARCH 31, 1996 ACCRUAL CERTIFICATES OF DEPOSIT - BANK PASSBOOK/CHECKING ACCOUNTS (Monthly Summary) 4003 Bank of America 0.000 4000 Farmers & Merchants 1.690 4001 Merrill Lynch 3.240 SUBTOTALS and ENDING BALANCE TREASURY SECURITIES - COUPON 1,600,000.00 2,056,410.28 1,611,028.17 7,441,192.95 7,843,280.11 9,497,603.23 9,454,308.28 1,080,713.93 2,995,939.94 ------------------------------------------------------------------------ --SALS 11,111,111.24 11,304,308.28 26,875,161.88 F......................................................:..........=..... t 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 5.643 860,258.01 1,850,000.00 1001 Local Agency Inv Fund (LPIC) 5.643 753,250.00 SUBTOTALS and ENDING BALANCE 1,613,508.01 1,850,000.DD 21,198,508.01 CERTIFICATES OF DEPOSIT - BANK PASSBOOK/CHECKING ACCOUNTS (Monthly Summary) 4003 Bank of America 0.000 4000 Farmers & Merchants 1.690 4001 Merrill Lynch 3.240 SUBTOTALS and ENDING BALANCE TREASURY SECURITIES - COUPON 1,600,000.00 2,056,410.28 1,611,028.17 7,441,192.95 7,843,280.11 9,497,603.23 9,454,308.28 1,080,713.93 2,995,939.94 ------------------------------------------------------------------------ --SALS 11,111,111.24 11,304,308.28 26,875,161.88 F......................................................:..........=..... t 04/22/1996 PM - 4 City of Lodi CITY INVESTMENT ACTIVITY SUMMARY ACCRUAL MARCH 1995 through MARCH 1996 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 95 18 33,932,499.82 5.550 5.627 5.779 0 0 205 118 April 95 18 34,801,811.02 5.413 5.489 5.760 0 0 199 106 May 95 18 34,306,827.08 5.618 5.696 5.934 1 1 202 99 June 95 17 29,874,708.57 4.572 4.635 5.997 0 1 174 103 July 95 17 29,124,360.40 5.668 5.747 5.972 2 2 178 101 August 95 17 29,670,050.06 5.603 5.680 5.910 0 0 175 93 September 95 16 29,235,852.27 5.478 5.554 5.890 0 1 140 64 October 95 16 28,851,702.35 5.477 5.553 5.784 1 1 142 61 November 95 16 27,909,671.99 5.435 5.511 5.805 0 0 147 58 December 95 16 26,997,821.00 5.506 5.583 5.805 1 1 152 68 January 96 16 27,401,708.03 5.372 5.447 5.698 3 3 149 64 February 96 15 27,068,033.20 5.358 5.432 5.690 2 3 148 61 March 96 --------------------------------------------------------------------------------------------------- 15 26,875,161.88 5.286 5.359 5.643 0 0 150 57 AVERAGES 17 $ 29,696,169.62 5.410% 5.486% 5.821% 1 1 166 81 LAI - 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 GNI - Mortgage Backed Securities BCD - Certificates of Deposit - Bank PAI, - Passbook/Checking Accounts CPI - Commercial Paper - Interest Bearing RPA - Repurchase Agreements FAD - Federal Agency Issues - Discount TRD - Treasury Securities - Discount T' 04/22/1996 d - 5 City of Lodi CITY DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL MARCH 1995 through MARCH 1996 MONTH ---------------------------------- TYPES OF INVESTMENTS ---------------------------------- END YEAR -------------------------------------------------------------------------------------------------------- LA1 BCD SCD PAL BAC CPI COM RPA FAC FAD TRC TRD GN1 March 95 67.6 5.0 1.1 3.0 23.4 April 95 65.9 4.9 3.6 2.9 22.8 May 95 67.1 5.0 1.9 2.9 23.1 June 95 58.4 5.7 22.5 3.4 10.0 July 95 77.3 5.8 3.2 3.4 10.3 August 95 77.2 5.7 3.6 3.4 10.1 September 95 79.2 5.8 4.8 10.2 October 95 80.4 5.9 3.3 10.4 November 95 78.5 6.1 4.7 10.7 December 95 80.0 6.3 2.6 11.1 January 96 79.0 6.2 3.9 10.9 .:_.ruary 96 79.2 5.9 3.6 11.1 March 96 78.9 ------------------------------------------------------------------------------------------ 6.0 4.0 11.2 AVERAGES 74.5% 5.73 4.93 1.53 13.53 LAI - 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 GNI - Mortgage Backed Securities BCD - Certificates of Deposit - Bank PAI, - Passbook/Checking Accounts CPI - Commercial Paper - Interest Bearing RPA - Repurchase Agreements FAD - Federal Agency Issues - Discount TRD - Treasury Securities - Discount 14/22/1996 PM - 6 City of Lodi CITY INTEREST EARNINGS SUMMARY ACCRUAL MARCH 31, 1996 CD/Coupon/Discount Investments: Interest Collected PLUS Accrued Interest at End of Period LESS Accrued Interest at Beginning of Period Interest Earned during Period ADJUSTED by Premiums and Discounts ADJUSTED by Capital Gains or Losses Earnings during Period Mortgage Backed Securities: Interest Collected PLUS Accrued Interest at End of Period LESS Accrued Interest at Beginning of Period Interest Earned during Period ADJUSTED by Premiums and Discounts ADJUSTED by Capital Gains or Losses Earnings during Period Cash/Checking Accounts: Interest Collected PLUS Accrued Interest at End of Period LESS Accrued Interest at Beginning of Period Interest Earned during Period TOTAL Interest Earned during Period TOTAL Ajustments from Premiums and Discounts TOTAL Capital Gains or Losses TOTAL Earnings during Period MONTH ENDING $ FISCAL MARCH 31, 1996 YEAR TO DATE $ 1,684.08 $ 202,588.98 58,055.70 ------------------ $ 58,055.70 ( 39,978.68) ( 67,118.91) ------------------ $ 19,761.10 ------------------ 193,525.77 325.72 $ 2,899.31 0.00 ------------------ $ 104.17 ------------------ 20,086.82 ------------------ $ 196,529.25 $ 0.00 $ 0.00 0.00 0.00 i 0.00) ------------------ ( 0.00) $ 0.00 ------------------ 0.00 0.00 0.00 0.00 0.00 ------------------ 0.00 ------------------ $ 0.00 $ 313,508.01 $ 1,329,432.97 56,819.28 56,819.28 ( 263,703.41) ( 405,119.12) ------------------ $ 106,623.88 ------------------ $ 981,133.13 $ 126,384.98 $ 1,174,656.90 $ 325.72 $ 2,899.31 $ 0.00 $ 104.17 ------------------ $ 126,710.70 ------------------ $ 1,177,662.38