HomeMy WebLinkAboutAgenda Report - July 17, 1996 (66)CITY OF LODI
AGENDA TITLE: Investment Account Disclosure
MEETING DATE: July 17, 1996
COUNCIL COMMUNICATION
PREPARED BY: Finance Director
RECOMMENDED ACTION: That the City Council by motion/action accept the second 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.
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
Vicky McAthie
Finance Director
APPROVED' c
H. Dixon Flynn - City Uanner
07/05/1996 1 City of Lodi PM - 2
INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY
JUNE 30, 1996 ACCRUAL
INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS
NUMBER ISSUER BALANCE SATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT
----------------------------------------------------------------------------------------------------------------------------------
LOCAL AGENCY INVESTMENT FUNDS
1000 Local Agency Invest. Fund 10,950,000.00 10,950,000.00 10,950,000.00 5.502 5.427 5.502 1
1001 Local Agency Inv Fund (LPIC 11,013,250.00 11,013,250.00 11,013,250.00 5.502 5.427 5.502 1
----------------- ------------------------------------------ ------ ------ ------
SUBTOTALS and AVERAGES 21,893,25D.00 21,963,250.00 21,963,250.00
21,963,250.00 5.427 5.502 1
CERTIFICATES OF DEPOSIT - BANK
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 56
2049 Farmers and Merchants Bank 12/20/95 1,000,000.00 1,000,DOD.00 1,000,000.00 5.100 5.100 5.171 12/20/96 172
2065 First Interstate Bank 01/02/96 100,000.00 100,D00.00 100,000.00 4.650 4.650 4.715 07/03/96 2
2077 Bank of Lodi 02/13/96 100,000.00 100,DDD.00 100,000.00 5.000 5.000 5.069 08/13/96 43
2068 Stockton Savings Bank 01/09/96 100,000.00 100,DDD.00 100,000.00 5.520 5.520 5.597 01/09/97 192
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 21
----------------- ---------------------------- -------------- ------ ------ ------
SUBTOTALS and AVERAGES 1,500,000.00 1,500,000.00 1,500,000.00
1,500,000.00 5.015 5.084 136
PASSBOOK/CHECKING ACCOUNTS
4003 Bank of America 441,809.56 441,809.56 441,809.56 0.000 0.000 0.000 1
4000 Farmers & Merchants 649,680.90 649,680.90 649,680.90 1.510 1.489 1.510 1
----------------- -------------- ----------- L -- -------------- ------ ------ ------
SUBTOTALS and AVERAGES 906,330.88 1,091,490.46 1,091,490.46
1,091,490.46 0.886 0.899 1
TREASURY SECURITIES - COUPON
8005 U. S. Treasury Notes 11/24/93 999,369.83 1,000,000.00 995,940.00 4.375 4.494 4.556 11/15/96 137
8006 U. S. Treasury Notes 02/15/94 999,538.24 1,000,000.00 994,060.00 4.750 4.764 4.830 02/15/97 229
6007 U. S. Treasury Notes 04/15/94 997,988.09 1,000,000.00 1,000,000.00 6.000 6.074 6.158 11/30/97 517
----------------- ------------------------------------------ ------ ------ ------
SUBTOTALS and AVERAGES 2,996,743.79 2,996,896.16 2,990,000.00
3,000,000.00 5.110 5.181 294
-----------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS and AVG. $ 27,551,636.62 27,544,740.46
27,296,324.68 27,554,740.46 5.190% 5.262% 40
i
07/05/1996
City of Lodi
PM - 1
PORTFOLIO MASTER SUMMARY
CITY
JUNE 30, 1996
ACCRUAL
AVERAGE
---YIELD TO MATURITY ---
PERCENT OF
AVERAGE DAYS TO
360
365
INVESTMENTS
------------------------------------------------------------------------------------------------------------------------------------
BOOK VALUE
PORTFOLIO
TERM MATURITY
EQUIVALENT
EQUIVALENT
Local Agency Investment Funds ................$
21,963,250.00
79.72
1 1
5.427
5.502
Certificates of Deposit - Bank ...............$
1,500,000.00
5.44
317 136
5.015
5.084
Passbook/Checking Accounts ...................$
1,091,490.46
3.96
1 1
0.886
0.899
Treasury Securities - Coupon .................$
2,996,896.16
10.88
1,169 294
5.110
5.181
TOTAL INVESTMENTS and AVERAGES .............$
------------------------------------------------------------------------------
27,551,636.62
100.00%
145 40
5.1901
5.2621
MONTH ENDING
FISCAL
FISCAL
TOTAL EARNINGS
JUNE 30
YEAR TO DATE
YEAR ENDING
Current Year
$
118,910.02
$
1,545,689.63
$
1,545,689.63
AVERAGE DAILY BALANCE
$
27,296,324.68
$
29,093,430.99
EFFECTIVE RATE OF RETURN
5.30%
5.30%
�Z!g, /'�C(�L�LGLUT%(,!� 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. Union Bank of
Deputy Treasurer California is the source of market valuation.
7-05 -96
DATE
07/05/1996 1 City of Lodi PM - 3
PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY
JUNE 1, 1996 - JUNE 30, 1996 ACCRUAL
CERTIFICATES OF DEPOSIT - BANK
PASSBOOK/CHECKING ACCOUNTS (Monthly Summary)
4003 Bank of America
4000 Farmers & Merchants
SUBTOTALS and ENDING BALANCE
TREASURY SECURITIES - COUPON
TOTALS
0.000
1.510
1,722,170.89
6,750,546.44
8,472,717.33
1,413,308.31
6,456,695.94
7,870,004.25
1,500,000.00
1,091,490.46
2,996,896.16
9,172,717.33 8,370,004.25 27,551,636.62
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
5.502
700,000.00
200,000.00
1001
Local Agency Inv Fund (LPIC)
5.502
300,000.00
SUBTOTALS and ENDING
BALANCE
700,000.00
500,000.00 21,963,250.00
CERTIFICATES OF DEPOSIT - BANK
PASSBOOK/CHECKING ACCOUNTS (Monthly Summary)
4003 Bank of America
4000 Farmers & Merchants
SUBTOTALS and ENDING BALANCE
TREASURY SECURITIES - COUPON
TOTALS
0.000
1.510
1,722,170.89
6,750,546.44
8,472,717.33
1,413,308.31
6,456,695.94
7,870,004.25
1,500,000.00
1,091,490.46
2,996,896.16
9,172,717.33 8,370,004.25 27,551,636.62
07/05/1996
PM - 4
City of
Lodi
CITY
INVESTMENT ACTIVITY SUMMARY
ACCRUAL
JUNE
1995 through JUNE 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
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
5.219
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
AVERAGES
15 $
27,985,886.93
5.345%
5.419%
5.745%
1
1
154
67
07/05/1996 - 5
City of Lodi CITY
DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL
JUNE 1995 through JUNE 1996
MONTH
----------------------------------
TYPES OF INVESTMENTS ----------------------------------
END YEAR
--------------------------------------------------------------------------------------------------------
LA1
BCD
SCD PA1 BAC
CPI COM RPA FAC
FAD TRC TRD GNI
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
February
96
79.2
5.9
3.8
11.1
March
96
78.9
6.0
4.0
11.2
'
April
96
80.4
5.7
2.6
11.3
May
96
81.4
5.6
1.8
11.2
June
96
79.7
------------------------------------------------------------------------------------------
5.4
4.0
10.9
AVERAGES
77.7%
..........................................................................................
5.9%
5.0%
0.8%
10.7%
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 - 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
07/05/1996
PM - 6
City of Lodi CITY
INTEREST EARNINGS SUMMARY ACCRUAL
JUNE 30, 1996
MONTH ENDING FISCAL
JUNE 30, 1996 YEAR TO DATE
CD/Coupon/Discount Investments:
Interest Collected $ 15,805.38 $ 288,478.55
PLUS Accrued Interest at End of Period 29,265.91 29,265.91
LESS Accrued Interest at Beginning of Period ! 26,403.49) ( 67,118.91)
------------------ ------------------
Interest Earned during Period $ 18,667.80 250,625.55
ADJUSTED by Premiums and Discounts 315.24 3,855.53
ADJUSTED by Capital Gains or Losses 0.00 104.17
Earnings during Period 18,983.04 $ 254,585.25
...�.�.:....._.... .................. ..................
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) ( O.OD)
------------------ ------------------
Interest Earned during Period $ 0.00 0.00
.....=
ADJUSTED by Premiums and Discounts . s . 60'.00 i6C•=�=.0.00
ADJUSTED by Capital Gains or Losses 0.00 0.00
Earnings during Period 0.00 $ 0.00
............... a.................
Cash/Checking Accounts:
Interest Collected
$
0.00
$
1,329,432.97
PLUS Accrued Interest at End of Period
31,601,174.60
31,801,174.60
LESS Accrued Interest at Beginning of Period
(
31,701,247.62)
i
31,839,503.19)
Interest Earned during Period
--------------
$
..................
---
99,926.98
------------------
$
..................
1,291,104.38
TOTAL Interest Earned during Period
$
118,594.78
$
1,541,729.93
TOTAL Ajustments from Premiums and Discounts
$
315.24
$
3,855.53
TOTAL Capital Gains or Losses
$
0.00
$
104.17
TOTAL Earnings during Period
------------------
$
118,910.02
------------------
$
1,545,689.63