HomeMy WebLinkAboutAgenda Report - October 16, 1996 (54)CITY OF LODI
COUNCIL1 - 1
AGENDA TITLE: Investment Account Disclosure
MEETING DATE: October 16, 1996
PREPARED BY: Finance Director
RECOMMENDED ACTION: That the City Council by motion/action accept the third quarterly
report (July - Sept) of the City of Lodi pooled money investment
account as required by S13564.
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:
H. Dixon Flynn - city
10/07/1996 City of Lodi PM - 1
PORTFOLIO MASTER SUMMARY CITY
SEPTEMBER 30, 1996 ACCRUAL
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.
/D b
DATE
AVERAGE
---YIELD TO MATURITY ---
PERCENT OF
AVERAGE DAYS TO
360
365
INVESTMENTS
------------------------------------------------ -----------------------------------------------------------------------------------
BOOR VALUE
PORTFOLIO
TERM MATURITY
EQUIVALENT
EQUIVALENT
Local Agency Investment Funds ................$
26,500,000.00
84.70
1 1
5.490
5.566
Certificates of Deposit - Bank ...............$
1,300,000.00
4.16
352 103
5.075
5.145
Passbook/Checking Accounts ...................$
489,162.98
1.56
1 1
0.820
0.832
Treasury Securities - Coupon .................$
------------------------------------------------------------------------------
2,997,862.87
9.58
1,169 202
5.110
5.181
TOTAL INVESTMENTS and AVERAGES .............$
31,287,025.85
100.00%
128 25
5.363%
5.438%
MONTH ENDING
FISCAL
TOTAL EARNINGS
SEPTEMBER 30
YEAR TO DATE
Current Year
$
142,032.85
$
418,893.07
AVERAGE DAILY BALANCE
$
32,651,115.24
$
31,509,236.26
EFFECTIVE RATE OF RETURN
5.29%
5.27%
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.
/D b
DATE
10/07/1996 City of Lodi PM - 2
INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY
SEPTEMBER 30, 1996 ACCRUAL
INVESTMENT 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 13,700,000.00 13,700,000.00 13,700,000.00 5.566 5.490 5.566 1
1001 Local Agency Inv Fund (LPIC 12,800,000.00 12,800,000.00 12,800,000.00 5.566 5.490 5.566 1
----------------- -------------- -------------- -------------- ------ ------
SUBTOTALS and AVERAGES 26,820,000.00 26,500,000.00 26,500,000.00
26,500,000.00 5.490 5.566 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 33D
2049 Farmers and Merchants Bank 12/20/95 1,000,000.D0 1,000,000.00 1,000,000.00 5.100 5.100 5.171 12/20/96 8D
2068 Stockton Savings Bank 01/09/96 100,000.00 100,000.00 100,000.00 5.520 5.520 5.597 01/09/97 100
2075 Wells Fargo Bank 07/22/96 100,000.00 100,000.00 100,000.00 4.500 4.500 4.563 01/21/97 112
SUBTOTALS and AVERAGES 1,300,D00.00 1,300,000.00 1,300,000.00
1,300,000.00
5.075 5.145 103
PASSBOOK/CHECKING ACCOUNTS
4003 Bank of America
219,759.84
219,759.84
219,759.84
0.000
0.000
0.000
1
4000 Farmers & Merchants
269,403.14
269,403.14
269,403.14
1.510
1.489
1.510
1
-----------------
SUBTOTALS and AVERAGES
1,533,404.74
-------------- --------------
489,162.98
--------------
489,162.98
------
------
------
489,162.98
0.820
0.832
1
TREASURY SECURITIES - COUPON
8005 U. S. Treasury Notes
11/24/93
999,793.01
1,000,000.00
998,750.00
4.375
4.494
4.556
11/15/96
45
8006 U. S. Treasury Notes
02/15/94
999,723.75
1,000,000.00
997,190.00
4.750
4.764
4.830
02/15/97
137
8007 U. S. Treasury Notes
04/15/94
998,346.11
1,000,000.00
1,001,250.00
6.000
6.074
6.158
11/30/97
425
-----------------
SUBTOTALS and AVERAGES
2,997,710.50
--------------
2,997,862.87
--------------
--------------
2,991,190.00
------
------
------
TOTAL INVESTMENTS and AVG.
3,000,000.00 5.110 5.181 202
-------------------------------------------------------------------------------------------------- --
$ 31,287,025.85 31,286,352.98
32,651,115.24 31,289,162.98 5.363% 5.438E 25
10/07/1996 City of Lodi PM - 3
.JRTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY
SEPTEMBER 1, 1996 - SEPTEMBER 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
1,469,524.15
7,745,195.63
9,214,719.78
1,855,574.05
7,812,052.65
9,667,626.70
1,300,000.00
489,162.98
2,997,862.87
------------------------------------------------------------------------
10,614,719.78 11,067,626.70 31,287, 025. 85
STATED TRANSACTION
PURCHASES
SALES/MATURITIES
TYPE INVESTMENT 4
-------------------------------------------------------------------------------------------'----"''------------------------------
ISSUER
RATE DATE
OR DEPOSITS
OR WITHDRAWALS BALANCE
LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary)
1000
Local Agency Invest. Fund
5.566
SOO,000.OD
1001
Local Agency Inv Fund (LPIC)
5.566
1,400,000.00
900,000.00
SUBTOTALS and ENDING
BALANCE
1,400,000.00
1,400,000.00 26,500, 000. 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
1,469,524.15
7,745,195.63
9,214,719.78
1,855,574.05
7,812,052.65
9,667,626.70
1,300,000.00
489,162.98
2,997,862.87
------------------------------------------------------------------------
10,614,719.78 11,067,626.70 31,287, 025. 85
0/07/1996
PM - 4
City of Lodi
CITY
INVESTMENT ACTIVITY SUMMARY
ACCRUAL
SEPTEMBER
1995 through
SEPTEMBER
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
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
July
96
12
29,421,179.58
5.215
5.288
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
AVERAGES
14 $
28,276,556.47
5.348%
5.422%
5.651%
1
1
143
51
10/07/1996 'M - 5
City of Lodi CITY
DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL
SEPTEMBER 1995 through SEPTEMBER 1996
MONTH
--------------------------------- TYPES OF INVESTMENTS
----------------------------------
END YEAR
--------------------------------------------------------------------------------------------------------
LAI
BCD SCD
PAI BAC CPI COM RPA
FAC FAD TRC TRD GNI
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
July 96
81.1
4.8
3.9
10.2
August 96
83.5
4.1
3.0
9.4
September 96
84.7
------------------------------------------------------------------------------------------
4.2
1.6
9.6
AVERAGES
80.5%
5.5%
3.4%
10.6%
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
10/07/1996
PM - 6
City of Lodi CITY
INTEREST EARNINGS SUMMARY ACCRUAL
SEPTEMBER 30, 1996
MONTH ENDING
FISCAL
SEPTEMBER 30, 1996
YEAR TO DATE
CD/Coupon/Discount Investments:
Interest Collected
$
1,292.84
$
28,045.80
PLUS Accrued Interest at End of Period
56,683.52
56,683.52
LESS Accrued Interest at Beginning of Period
(
------------------
40,121.96)
(
29,313.00)
Interest Earned during Period
$
17,854.40
------------------
55,416.32
ADJUSTED by Premiums and Discounts
315.24
966.71
ADJUSTED by Capital Gains or Losses
0.00
0.00
Earnings during Period
------------------
18,169.64
------------------
$
56,383.03
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
0.00
ADJUSTED by Capital Gains or Losses
0.00
0.00
Earnings during Period
------------------
..................
0.00
------------------
$
..................
0.00
Cash/Checking Accounts:
Interest Collected
$
851.74
$
306,799.34
PLUS Accrued Interest at End of Period
31,833,564.03
31,833,564.03
LESS Accrued Interest at Beginning of Period
(
31,710,552.56)
(
31,777,853.33)
Interest Earned during Period
------------------
$
..................
123,863.21
------------------
$
..................
362,510.04
TOTAL Interest Earned during Period
$
141,717.61
$
417,926.36
TOTAL Ajustments from Premiums and Discounts
$
315.24
$
966.71
TOTAL Capital Gains or Losses
$
0.00
$
0.00
TOTAL Earnings during Period
------------------
$
142,032.85
---------------_--
$
418,893.07