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HomeMy WebLinkAboutAgenda Report - November 6, 2002 E-03COUNCIL COMMUNICATION AGENDA TITLE: MEETING DATE: PREPARED BY: Accept the Quarterly Investment Account report as required by law SB564 November 6, 2002 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. o. • A►�, Me Vicky McAthle Finance Director/Treasurer i APPROVED: H. Dix Flynn -- ity Manager Investments City of Lodi Portfolio Management Portfolio Summary September 30, 2002 Par Market Value Value Book % of Value Portfolio City of Lodi 212 W. Pine St. Lodi, CA 95240 (209)333-6800 Days to YTM YTM Tenn Msturlty 360 Equiv. 365 Equiv. Local Agency Investment Funds Certificates of Deposit - Bank Passbook/Checking Accounts Corporate Medium Term Note Investments 7,300,049.78 7,300,049.78 7,300,049.78 59.92 1 1 2.712 2.750 1,200,000.00 1,200,000.00 1,200,000.00 9.85 195 39 2.142 2.171 2,670,915.31 2,670,915.31 2,670,915.31 21.92 1 1 0.000 0.000 1,020,000.00 1,039,645.20 1,012,137.15 8.31 1,056 230 7.151 7.250 12,190,965.09 12,210,610.29 12,183,102.24 100.00% 108 24 2.430 2.464 Total Earnings September 30 Month Ending Current Year 28,064.77 Average Daily Balance 16,609,122.50 Effective Rate of Return 2.06% Fiscal Year To Date 97,089.78 16,040,775.61 2.40°Ao Based on the approved budget and to the Went the budget is adhered to, liquidity is available for the next 30 days. Union Bank of California is the source of market valuation. Marcella ne C leder, Revenue Manager/Deputy Treas. Portfolio CITY AC Run Date: 10/14/2002 - 08:19 PM (PRF PM1) SymRept V5.01f City of Lodi Portfolio Management Portfolio Details - Investments September 30, 2002 Page 2 Average Purchase Stated YTM Days to Maturity CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate Moody's 360 Maturity Date Local Agency investment Funds LAW 1000 Local Agency Invest. Fund 5,074,048.61 5,074,046.61 5,074,048.61 2.750 2.712 1 LPIC 1001 Local Agency Inv Fund (LPIC) 2,226,001.17 2,226,001.17 2,226,001.17 2.750 2.712 1 Subtotal and Average 8,800,049.78 7,300,049.78 7,300,049.78 7,300,049.78 2712 1 Certificates of Deposit - Bank WEST 52 Bank of the West 04/17/2002 100,000.00 100,000.00 100,000.00 2.220 2220 198 04/17/2003 FM11 53 Farmers and Merchants Bank 05/01/2002 1,000,000.00 1,000,000.00 1,000,000.00 2.150 2.150 27 10/28/2002 LODI 51 Bank of Lodl 04/06/2002 100,000.00 100,000.00 100,000.00 1.980 1.980 2 10/03/2002 Subtotal and Average 1,200,000.00 1,200,000.00 1,200,000.00 1,200,000.00 2.142 39 PassbooklChecking Accounts BACK 4003 Bank of America 4000 Farmers & Merchants Subtotal and Average 6,697,435.62 07/01/2002 200,412.28 200,41228 200,412.28 0.000 1 2,470,503.03 2,470,503.03 2,470,503.03 0.000 1 2,670,915.31 2,670,915.31 2,670,915.31 0.000 1 Corporate Medium Term Note 36962GSY1 35 Higgins Capital Management, In 06/27/2000 1,020,000.00 1,039,645.20 1,012,137.15 5.880 AAA 7.151 230 05/19/2003 Subtotal and Average 1,011,637.10 1,020,000.00 1,039,645.20 1,012,137.15 7.151 230 Run Date: 10/14/2002 - 08:19 Total Investments and Average 16,609,122.50 12,190,985.09 12,210,61029 12,183,102.24 2.430 24 Portfolio CITY AC PM (PRF PM2) SymRept V5.01f City of Lodi Portfolio Management Portfolio Details - Cash September 30, 2002 Average Purchase Stated YTM Days to CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate Moodys 360 Maturity Page 3 Total Cash and Investments 16,609,122.50 Run Date: 10/14/2002 - 08:19 12,190,995.09 12,210,610,29 12,183,102.24 2430 24 Portfolio CITY AC PM (PRF.9M2) SymRept V5.01f CUSIP Investment # Issuer City of Lodi Portfolio Management Investment Activity By Type September 1, 2002 through September 30, 2002 Stated Transaction Purchases Rate Date or Deposfts Sales/Maturities or Withdrawals Balance Page 4 Local Agency Investment Funds (Monthly Summary) LAIF 1000 Local Agency Invest. Fund Subtotal 2.750 0.00 2,500,000.00 0.00 2,500,000.00 7,300,049.78 Certificates of Deposit - Bank Subtotal 1,200,000.00 PassbooldChecking Accounts (Monthly Summary) BACK 4003 4000 Bank of America Farmers & Merchants Subtotal 379,442.48 11,574,887.92 11,954,330.40 376,065.12 1 4 S05,700 .08 14,981,765.20 2,670,916.31 Corporate Medium Term Note Subtotal 1,012,137.15 Total Run Date: 10/14/2002 08:19 11,954,330.40 17,481,765.20 12,183,102.24 Portfolio CITY AC PM (PRF_PM3) SyrnRept V5.01f City of Lodi Portfolio Management Investment Activity Summary September 2001 through September 2002 Page 5 Yield toMaturity Managed Number Number Month Number of Total 360 386 Pool of Securities of Securities Average Average End Year Securities Invested Equivalent Equivalent Rate Purchased Matured / Sold Term Days to Maturity September 2001 11 15,757,753.71 4.914 4.982 6.160 0 4 212 115 October 2001 12 21,981,813.67 3.294 3.340 3.750 3 2 153 94 November 2001 12 22,224,005.67 3.672 3.723 3.750 0 0 151 86 December 2001 12 17,081,531.00 3.693 3.744 3.785 0 0 197 102 January 2002 12 21,305,388.93 3.171 3.215 3.070 1 1 158 75 February 2002 12 21,321,231.39 3.036 3.078 3.070 0 0 158 68 March 2002 11 17,216,235.36 3.071 3.114 2.990 0 1 153 76 April 2002 10 23,765,461.75 2.328 2.360 2.861 2 3 103 54 May 2002 10 19,601,834.44 2.655 2.691 2.861 1 1 124 69 June 2002 10 16,909,650.78 2.769 2.807 2.760 0 0 144 74 July 2002 8 15,114,380.20 2.407 2.440 2.750 1 1 87 28 August 2002 8 17,709,502.46 2.054 2.083 2.750 0 0 74 20 September 2002 8 12,183,102.24 2.430 2.464 2.750 0 0 108 24 Run Date; 10/14/2002 - 08:19 Average 10 18,828,807.06 3.038% 3.080% 3.331 1 1 140 68 Portfolio CIN AC PM (PRF_PM4) SyrnRept V5.01f Investment Type City of Lodi Portfolio Management Distribution of Investments By Type September 2001 through September 2002 Page 6 September October November December January February March AprII May June July August September Average 2001 2001 2001 2001 2002 2002 2002 2002 2002 2002 2002 2002 2002 by Period Local Agency Investment Funds 52.7 56.5 67.0 57.4 63.9 59.5 66.1 58.8 67.0 69.2 64.8 55.3 59.9 61.4% Certificates of Deposit - Bank 8.3 10.5 10.4 13.5 10.8 10.8 13.4 5.5 6.6 7.7 7.9 6.8 9.9 9.4% Certificates of Deposit - S & L Passbook/Checking Accounts 20.0 19.4 9.1 11.6 11.2 15.7 8.9 27.3 16.1 11.2 20.5 32.2 21.9 17.3% Corporate Medium Term Note 6.3 4.6 4.5 5.9 47 4.7 5.8 4.2 5.1 6.0 6.7 5.7 8.3 5.6% Commercial Paper - Interest Bearing Repurchase Agreements Federal Agency Issues - Coupon Treasury Securities - Coupon 12.7 9.1 9.0 11.7 9.4 9.4 5.8 42 5.1 5.9 6.3% Mortgage Backed Securities Bankers Acceptances -Amortizing Commercial Paper Disc. -Amortizing Federal Agency Disc. -Amortizing Treasury Discounts -Amortizing Miscellaneous Discounts -Amortizing Run Date: 10/14/2002 - 08:19 Portfolio CITY AC PM (PRF PM5) SymRept V5.01f City of Lodi Portfolio Management Interest Earnings Summary September 30, 2002 September 30 Month Ending Fiscal Year To Date Page 7 CD/Coupon/Discount Investments: Interest Collected 30,341 .16 62,029.14 Plus Accrued Interest at End of Period 6,488.79 6,488.79 Less Accrued Interest at Beginning of Period ( 29,690.28) ( 44,359.29) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 7,139.67 24,158.64 Adjusted by Premiums and Discounts 1,034.58 3,103.76 Adjusted by Capital Gains or Losses 0.00 0.00 Eamings during Period 8,174.25 27,262.40 Pass Through Securkies: Interest Collected Plus Accrued Interest at End of Period Less Accrued Interest at Beginning of Period Less Accrued Interest at Purchase During Period Interest Eamed during Period ( ( 0.00 0.00 0.00) 0.00) 0.00 0.00 0.00) 0.00) 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Eamings during Period 0.00 0.00 Cash/Checking Accounts: Interest Collected 0.00 100,049.78 Plus Accrued Interest at End of Period 69,708.22 69,708.22 Less Accrued Interest at Beginning of Period ( 49,817.70) ( 99,930.64) Interest Earned during Period 19,890.52 69,827.36 Total Interest Earned during Period 27,030.19 93,986.00 Total Adjustments from Premiums and Discounts 1,034.68 3,103.76 Total Capkal Gains or Losses 0.00 0.00 Total Eamings during Period Run Date: 10/14!2002 - 09:19 28,064.77 97,089.76 Portfolio CITY AC PM (PRF_PM6) SymRept V5.01f BREAKDOWN OF TREASURY INVENTORY BY TYPE Type of Security Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chercking Accounts Corporate Medium Term Note Treasury Securities - Coupon Federal Agency Issues - Coupon September 30, 2002 Amount Percent of Portfolio $7,300,049.78 59.880819% $1,200,000.00 9.843355% $2,670,915.31 21.908973% $1,020,000.00 8.366852% 0.000000% 0.000000% $12,190,965.09 100.00% Maximum Maturity Indefinite 5 years Indefinite 5 years 5 years 5 years $1,020,000.00 Federal Agency Issues - Corporate Medium Term Coupon Note 0% 8° Treasury Securities - Coupon 0% $2,670,915.31 Passbook/Chercklng Accounts 22% 51200,000.00 Certificates of Deposit - Bank 10% $7.300,049.78 Local Agency Investment Fund 60% 0 Local Agency Investment Fund $7,300,049.78 ® PassbookfChercldng Accounts $2,670,915.31 © Treasury Securities - Coupon • Certificates of Deposit - Bank $1,200,000.00 M Corporate Medium Term Note $1,020,000.00 0 Federal Agency Issues - Coupon PHILIP ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) June 30, 2002 PERCENTAGE CHANGE FROM TYPE OF SECURITY AMOUNT PERCENT PRIOR MONTH Government Bills $ 1,388,216 2.91 +1.66 Bonds 0 0 0 Notes 6,888,710 14.43 +2.73 Strips 0 0 0 Total Governments $ 8,276,926 17.34 +4.39 Federal Agency Coupons $ 5,226,910 10.95 +0.76 Certificate of Deposits 5,805,083 12.16 -2.08 Bank Notes 1,250,000 2.62 +1.31 Bankers' Acceptances 0 0 -0.04 Repurchases 0 0 0 Federal Agency Discount Notes 5,032,151 10.55 -6.67 Time Deposits 5,177,695 10.85 -0.06 GNMAs 761 0 0 Commerical Paper 12,164,704 25.49 +5.24 FHLMC 7,195 0.02 0 Corporate Bonds 2,487,882 5.22 +0.40 Pooled Loans 2,290,245 4.80 +0.81 GF Loans 0 0 -5.42 Reversed Repurchases 0 0 -1.36 Total (All Types) $ 47,719,552 100.00 Average Life of Portfolio as of June 30, 2002 is 223 Days 5 Revised June 30, 2002 State of California Pooled Money Investment Account Market Valuation 6/30/02 r .__. `' _ s! 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