HomeMy WebLinkAboutAgenda Report - September 6, 2017 C-04TM
CITY OF LODI
COUNCIL COMMUNICATION
AGENDA ITEM
C-4
AGENDA TITLE: Accept the Quarterly Investment Report as Required by the City of Lodi Investment
Policy
MEETING DATE: September 6, 2017
PREPARED BY: Deputy City Manager
RECOMMENDED ACTION: Accept the quarterly investment report as required by the City of
Lodi Investment Policy.
BACKGROUND INFORMATION: Government Code Section 53646 prescribes suggested investment
reporting requirements for California public agencies. The City
Council adopted Resolution 2016-10 on January 20, 2016, requiring
the Treasurer to submit a quarterly investment reporting in accordance with Section 53646. The attached
Treasurer's Report for the quarter ending June 30, 2017 is in compliance with the State's reporting
requirements and the City of Lodi's Investment Policy and Internal Control Guidelines.
The total of all invested funds as of the quarter ending June 30, 2017 is $98,618,386.38. The average
annualized return on all invested funds over the quarter is 1.43 percent. The total earnings on all
invested funds for Fiscal Year 2016/17 are $674,682.64. The average annualized return on all invested
funds for FY 2016/17 is 0.81 percent.
Staff added two additional investments to the investment statement — the CaIPERS CERBT program for
other post -employment benefits and PARS for pension stabilization. Both programs were approved by
City Council on October 19, 2016. It is important to note that these two investments are not part of the
City pooled cash investments. Previously, staff only reported on the pooled cash investments. Pooled
cash investments accrue interest earnings and market value changes to funds based on cash balances
in the individual funds. The CERBT and PARS investments are trust funds and the contributing funds are
credited earnings based on the principal investment amount each fund contributed which is not tied to
cash balances.
FISCAL IMPACT: Not applicable.
FUNDING AVAILABLE: As per attached report.
Attachment
Andrew Keys
Treasurer
APPROVED:
shwa.a ='ity Manager
Investment:
CITY OF LODI
INTERNAL SERVICES DEPARTMENT
BUDGET DIVISION
June 30, 2017 Investment Statement
Earnings for Qtr
Ending 06/30/17:
Ending
Balance:
Local Agency Investment Funds
36.9% of portfolio
CaITRUST Investment Trust of California
47.5% of portfolio
Short -Term Account
Medium -Term Account
Certificates of Deposit
2.7% of portfolio
F&M Bank (matures 11/07/17)
Bank of the West (matures 03/10/18)
BBVA Compass (matures 03/13/18)
Passbook/Checking Accounts
12.9% of portfolio
Farmers & Merchants *
Farmers & Merchants - Money Market
Farmers & Merchants - Payroll
Farmers & Merchants - CP Money Market
Total Pooled Cash Portfolio
Pension Stabilization Trust Fund
PARS - 100% of portfolio
Other Post Employment Benefits Trust Fund
CERBT - 100% of portfolio
Andrew Keys
Deputy City Manager/Internal Services Director
0.93% interest earnings
Subtotal LAIF
0.92% interest earnings
1.12% interest earnings
Subtotal CaITRUST
0.90% interest earnings
0.75% interest earning
1.00% interest earnings
Subtotal CDs
demand acct
0.55% interest earnings
demand acct
0.55% interest earnings
Subtotal P/C Accts
10.08% earnings rate
10.72% earnings rate
TOTAL INVESTMENTS
Cji)Va-Ori
Date
34,541,909.49
34,541,909.49
12,284,365.53
32,133,266.17
44,417,631.70
2, 000, 000.00
250, 000.00
249.995.47
2,499,995.47
1,423,291.07
8,275,331.29
25,188.32
2.416.950.95
* This account carries a compensating balance required to obtain an earnings credit to
offset service charges.
12,140,761.63
93,600,298.29
3,938,614.59
1,079,473.50
98,618,386.38