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HomeMy WebLinkAboutAgenda Report - February 7, 2001 E-03CITY OF LORI COUNCIL COMMUNICATION AGENDA TITLE: Accept Quarterly Investment Account report as required by law SB564 MEETING DATE: February 7, 2001 PREPARED BY: 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. Vicky McAt ie Finance Director/Treasurer APPROVED: H. Dixon Flynn -- City Manager City of Lodi Portfolio Management Portfolio Summary December 31, 2000 City of Lodi 212 W. Pine St. Lodi, CA 95240 (209)333-6800 Marcella Maxine Ca6vallader, Revenue Manager/Deputy Tress Run Dates 01/11/2001 -08:28 Portfolio CITY AP PM (PRF_PM1l Sym Rept V5.01f Par Market Book % of Days to YTM YTM Investments Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv. Local Agency Investment Funds 9,910,000.00 9,910,000.00 9,910,000.00 32.05 1 1 6.450 6.540 Certificates of Deposit - Bank 3,300,000.00 3,300,000.00 3,300,000.00 10.67 361 209 6.367 6.456 Passbook/Checking Accounts 3,215,783.75 3,215,783.75 3,215,783.75 10.40 1 1 0.000 0.000 Corporate Medium Term Note 1,020,000.00 1,021,570.80 990,410.86 3.20 1,056 868 7.151 7.250 Federal Agency Issues - Coupon 12,500,000.00 11,585,340.00 12,500,000.00 40.43 1,023 485 6.025 6.109 Treasury Securities - Coupon 1,000,000.00 1,005,000.00 999,561.15 3.23 626 272 6.342 6.430 Investments 30,945,783.75 30,037,694.55 30,915,755.76 100.00% 507 255 5.618 5.696 Cash and Accrued Interest Passbook/Checking 0.00 0.00 0.00 0 0 0.000 0.000 (not included in yield calculations) Accrued Interest at Purchase 50,180.32 50,180.32 Subtotal 50,180.32 50,180.32 Total Cash and Investments 30,945,783.75 30,087,874.87 30,965,936.08 507 255 5.618 5.696 Total Earnings December 31 Month Ending Fiscal Year To Date Current Year 173,676.37 1,029,910.26 Average Daily Balance 34,808,227.42 35,815,694.77 Effective Rate of Return 5.87% 5.700A Based on the approved budget andel to the extent the budget is adhered to, liquidity is available for the next three to six months. Union Bank of Calffornia is the source of market valuation. Marcella Maxine Ca6vallader, Revenue Manager/Deputy Tress Run Dates 01/11/2001 -08:28 Portfolio CITY AP PM (PRF_PM1l Sym Rept V5.01f City of Lodi Corporate Medium Term Note 7.010 7.010 Portfolio Management 1,000,000.00 36962GSY1 35 Higgins Capital Management, In Page 2 1,020,000.00 1,021,570.80 707 12/09/2002 Portfolio Details - Investments 5.910 1,020,000.00 1,021,570.80 Federal Agency Issues - Coupon 5.550 5.550 602 08/26/2002 December 31, 2000 3133MAKW 28 FEDL HOME LOAN MTG CORP 01/24/2000 1,000,000.00 1,000,310.00 3133M7SQO Average Purchase 03/06/1999 1,000,000.00 Stated YTM Days to Maturity CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity Date Local Agency Investment Funds 07/09/1998 500,000.00 499,530.00 3133M7LKO 10 Feredal Home Loan Bank (call) LAIF 1000 Local Agency Invest. Fund 8,910,000.00 8,910,000.00 8,910,000.00 6.540 6.540 1 LPIC 1001 Local Agency Inv Fund (LPIC) 1,000,000.00 1,000,000.00 1,000,000.00 6.540 6.540 1 03/01/20W 1,000,000.00 Subtotal and Average 13,877,741.94 9,910,000.00 9,910,000.00 9,910,000.00 12/03/1998 6.640 1 Certificates of Deposit - Bank 36 Fedl Home Loan Bank Cons Bd 08/28/2000 1,000,000.00 1,001,250.00 31364OR43 12 WEST 33 Bank of the West 04/1712000 100,000.00 100,000.00 100,000.00 5.750 5.830 106 04/17/2001 FM06 34 Farmers and Merchants Bank 05/05/2000 1,000,000.00 11000,000.00 1,000,000.00 6.240 6.327 126 05/07/2001 FM08 38 Farmers and Merchants Bank 09/29/2000 1,000,000.00 1,000,000.00 1,000,000.00 6.500 6,590 273 10/01/2001 FM07 37 Farmers & Merchants 09/27/2000 1,000,000.00 1,000,000.00 1,000,000.00 6.500 6.590 269 09/27/2001 GUAR 27 Guaranty Federal Bank 01/11/2000 100,000.00 100,000.00 100,000.00 5.970 6.053 10 01/11/2001 39 Bank of Lodi 10/11/2000 100,000.00 100,000.00 100,000.00 6.000 6.083 98 04/09/2001 Subtotal and Average 4,203,225.81 3,300,000.00 3,300,000.00 3,300,000.00 6.456 209 PassbooklChecking Accounts BACK 4003 Bank of America 07/01/2000 351,982.42 351,982.42 351,982.42 0.000 1 4000 Farmers & Merchants 2,863,801.33 2,863,801.33 2,863,801.33 0.000 1 Subtotal and Average 2,237,796.79 3,216,783.75 3,215,783.75 3,215,783.76 0.000 1 Corporate Medium Term Note 7.010 7.010 753 01/24/2003 1,000,000.00 36962GSY1 35 Higgins Capital Management, In 06/27/2000 1,020,000.00 1,021,570.80 707 12/09/2002 Subtotal and Average 989,926.94 5.910 1,020,000.00 1,021,570.80 Federal Agency Issues - Coupon 5.550 5.550 602 08/26/2002 1,000,000.00 3133MAKW 28 FEDL HOME LOAN MTG CORP 01/24/2000 1,000,000.00 1,000,310.00 3133M7SQO 11 Federal Home Loan Bank 03/06/1999 1,000,000.00 995,780.00 3133M8WC4 14 Federal Home Loan Bank 06!09/1999 1,000,000.00 997,190.00 3133M4TB9 1 Feredal Home Loan Bank (call) 07/09/1998 500,000.00 499,530.00 3133M7LKO 10 Feredal Home Loan Bank (call) 02/26/1999 1,000,000.00 994,220.00 3133M93F7 15 Feredal Home Loan Bank (call) 08/28/1999 1,000,000.00 1,005,610.00 3133M9WU2 23 Feredal Home Loan Bank (call) 09/28/1999 1,000,000.00 102,680.00 3133MAVS5 30 Feredal Home Loan Bank (call) 03/01/20W 1,000,000.00 1,000,000.00 3133WNQ7 5 Feredal Home Loan Bank (call) 12/03/1998 1,000,000.00 995,310.00 3133MBYR2 36 Fedl Home Loan Bank Cons Bd 08/28/2000 1,000,000.00 1,001,250.00 31364OR43 12 Fannie Mae callable note 05/17/1999 1,000,000.00 996,560.00 31364GLO2060 6 Fannie Mae callable note 12/15/1998 1,000,000.00 995,520.00 313640708 22 Fannie Mae Bullet 09/2211999 1,000,000.00 1,000,300.00 Run Date: 01/11/2001 - 08:28 990,410.86 5.880 7.250 868 05/19/2003 990,410.86 7.250 am 1,000,000.00 7.010 7.010 753 01/24/2003 1,000,000.00 5.570 5.570 431 03/08/2002 1,000,000.00 6.040 6.040 707 12/09/2002 500,000.00 5.910 5.910 189 07/09/2001 1,000,000.00 5.550 5.550 602 08/26/2002 1,000,000.00 6.175 6.175 543 06/28/2002 1,000,000.00 6.250 6.250 270 09/28/2001 1,000,000.00 7.120 7.120 424 03/01/2002 1,000,000.00 5.580 5.580 518 06/03/2002 1,000,000.00 7.000 7.000 604 08(28/2002 1,000,000.00 5.760 5,760 501 05/17/2002 1,000,000.00 5.350 5.350 350 12/17/2001 1,000,000.00 6.000 6.000 266 09/24/2001 Portfolio CITY AP PM (PRF M) Sym Rept V5.01f CUSIP Investment # Issuer City of Lodi Portfolio Management Portfolio Details - Investments December 31, 2000 Average Purchase Balance Date Par Value Market Value Page 3 Stated YTM Days to Maturity Book Value Rate 365 Maturity Date Subtotal and Average 12,600,000.00 12,500,000.00 11,686,340.00 12,500,000.00 6.109 486 Treasury Securities - Coupon 912627Z54 25 U. S. Treasury Notes 01/13/2000 1,000,000.00 1,005,000.00 999,561.15 6.375 6.430 272 09/30/2001 Subtotal and Average 999,536.95 1,000,000.00 1,005,000.00 999,661.16 6.430 272 Total Investments and Average 34,806,227.42 Run Date: 01/11/2001 - 08:28 30,945,783.75 30,037,694.56 30,915,756.76 5.696 255 Portfolio CITY AP PM (PRF PM2) Sym Rept V5.01f City of Lodi Portfolio Management Portfolio Details - Cash December 31, 2000 Page 4 Average Purchase Stated YTM Days to CUSIP Investment N Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity Accrued interest at Purchase 50,180.32 50,180.32 Total Cash and Investments 34,808,227.42 Run Date: 01 /1112001 - 0828 Subtotal 50,180.32 50,180.32 30,945,783.75 30,067,874.87 30,965,936.08 5.686 255 Portfolio CITY AP PM (PRF PM2) SyrnRept V5.01f City of Lodi Portfolio Management Investment Activity By Type December 1, 2000 through December 31, 2000 Stated Transaction Purchases SaleslMaturities CUSIP Investment # Issuer Rate Date or Deposits or Withdrawals Balance Page 6 Local Agency Investment Funds (Monthly Summary) LAIF 1000 Local Agency Invest. Fund 6.540 1,500,000.00 1,000,000.00 LPIC 1001 Local Agency Inv Fund (LPIC) 6.540 0.00 4,000,000.00 Subtotal 1,600,000.00 6,000,000.00 9,910,000.00 Certificates of Deposit - Bank FM04 20 Farmers and Merchants Bank 5.250 12/29/2000 0.00 1,000,000.00 Subtotal 0.00 1,000,000.00 3,300,000.00 Passbook/Checking Accounts (Monthly Summary) BACK 4003 Bank of America 444,926.95 494,600.42 4000 Farmers 6 Merchants 12,653,252.75 11,593,021.75 Subtotal 13,096,209.73 12,067,622.17 3,215,783.75 Corporate Medium Term Note Subtotal 990,410.86 Federal Agency Issues - Coupon Subtotal 12,600,000.00 Treasury Securities - Coupon Subtotal 999,561.16 Total 14,898,209.73 16,087,622.17 30,916,766.76 Run Date: 01/11/2001 - 08:28 Portfolio CITY AP PM (PRF PM3) SymRapt V5.01f City of Lodi Portfolio Management Investment Activity Summary December 1999 through December 2000 Page 6 Average 24 33,961,436.24 5.626% 5.602% 6.012 1 1 436 274 Portfolio CITY AP Run Date: 01/11!2001 - 08:28 PM (PRF PM4) Sym Rept V5.01f Yield to Maturity Managed Number Number Month Number of Total 36D 366 Pool of Securities of Securities Average Average End Year Securities Invested Equivalent Equivalent Rate Purchased Matured I Sold Term Days to Maturity December 1889 21 35,762,625.85 5.294 5.367 5.498 1 1 327 244 January 2000 22 33,716,360A5 5.513 5.590 5.639 4 3 397 297 February 2000 22 32,434,506.18 5.423 5.498 5.639 0 0 413 294 March 2000 23 30,996,478.69 5.488 5.564 5.639 2 1 455 321 April 2000 23 32,740,970.53 5.571 5.649 5.851 1 1 431 289 May 2000 24 33,070,508.56 5.530 5.607 5.851 1 0 437 281 June 2000 24 41,571,248.71 4.935 5.003 6.190 1 1 366 236 July 2000 24 32,566,090.09 5.726 5.805 6.180 1 0 467 284 August 2000 25 33,370,283.06 5.835 5.916 6.180 1 0 478 283 September 2000 25 34,419,777.82 5.714 5.793 6.180 2 2 468 279 October 2000 26 35,810,005.78 5.363 5.438 6.297 1 0 451 253 November 2000 26 34,104,083.59 5.825 5.906 6.470 0 0 473 249 December 2000 25 30,915,755.76 5.618 5.696 6.540 0 1 507 255 Average 24 33,961,436.24 5.626% 5.602% 6.012 1 1 436 274 Portfolio CITY AP Run Date: 01/11!2001 - 08:28 PM (PRF PM4) Sym Rept V5.01f City of Lodi Portfolio Management Distribution of Investments By Type December 1999 through December 2000 Page 7 Investment Type December 1999 January 2000 February 2000 March 2000 April 2000 May 2000 June 2000 July 2000 August September 2000 2000 October November 2000 2000 December 2000 Average by Period Local Agency Investment Funds 55.4 51.3 47.8 42.3 45.0 41.5 39.3 40.8 40.5 39.2 34.7 38.4 32.1 42.2% Certificates of Deposit - Bank 14.5 12.5 13.0 13.6 12.8 15.7 10.1 12.9 12.6 12.2 12.0 12.6 10.7 12.7% Certificates of Deposit - S & L Passbook(Checking Accounts 3.5 2.1 3.8 3.9 4.0 5.0 18.2 4.9 3.6 6.5 12.9 6.5 10.4 6.6% Corporate Medium Term Note 2.4 3.0 3.0 2.9 2.8 2.9 3.2 1.5% Commercial Paper - Interest Bearing Federal Agency Issues - Coupon 26.6 31.1 32.4 37.1 35.1 34.8 27.7 35.3 37.5 36.3 34.9 36.7 40.4 34.3% Treasury Securities - Coupon 3.0 3.1 3.2 3.1 3.0 2.4 3.1 3.0 2.9 2.8 2.9 3.2 2.7% Mortgage Backed Securities Bankers Acceptances -Amortizing Commercial Paper Disc. -Amortizing _ Federal Agency Disc. -Amortizing Treasury Discounts-Amortizina Miscellaneous Discounts Run Date: 01/11/2001 - 08:28 Portfolio CITY AP PM (PRF PMS) SymRW V5.01f City of Lodi Portfolio Management Page 8 Interest Eamings Summary December 31, 2000 December 31 Month Ending Fiscal Year To Date CO/Coupon/Discount Investments: Interest Collected 179,234.97 570,539.57 Plus Accrued Interest at End of Period 163,450.75 163,450.75 Less Accrued Interest at Beginning of Period ( 246,448.13) ( 173,909.75) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 96,237.59 560,060.57 Adjusted by Premiums and Discounts 1,064.61 6,504.39 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Period 97,322.20 566,584.96 Pass Through 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) Less Accrued Interest at Purchase During 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 0.00 455,078.34 Plus Accrued Interest at End of Period 229,305.20 229,305.20 Less Accrued Interest at Beginning of Period ( 152,951.03) ( 221,056.24) Interest Earned during Period 76,354.17 463,325.30 Total Interest Earned during Period 172,591.76 1,023,406.87 Total Adjustments from Premiums and Discounts 1,084.61 6,604.39 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period Run Date: 01/11/2001 - 08:26 173,676.37 1,028,910.26 Portfolio CITY AP PM (PRF_PM6) SymRept V5.01f Type of Security Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chencking Accounts Corporate Medium Term Note Treasury Securities - Coupon Federal Agency Issues - Coupon $12,500,000.00 Federal Agency Issues - Coupon 41% BREAKDOWN OF TREASURY INVENTORY BY TYPE December 31, 2000 Amount Percent of Portfolio $9,910,000.00 32.023749% $3,300,000.00 10.663811% $3,215,783.75 10.391670% $1,020,000.00 3.296087% $1,000,000.00 3.231458% $12,500,000.00 40.393225% $30,945,783.75 100.00% Maximum Maturitv Indefinite 5 years Indefinite 5 years 5 years 5 years $1,020,000.00 Corporate Medium Term Note 3% $1,000,000.00 Treasury Securities - Coupon 3% $3,300,000.00 Certificates of Deposit - Bank $3,215,783.75 11% Passbook/Chercking Accounts 10% 0$9,910,000.00 ■ $3,300,000.00 M $3,215,783.75 Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chercking Accounts 0$1,020,000.00 0 $1,000,000.1)0 0$12,500,000.00 Corporate Medium Term Note Treasury Securities - Coupon Federal Agency Issues - Coupon $9,910,000.00 Local Agency Investment Fund 32% $1,020,000.00 Corporate Medium Term Note 3% $1,000,000.00 Treasury Securities - Coupon 3% $3,300,000.00 Certificates of Deposit - Bank $3,215,783.75 11% Passbook/Chercking Accounts 10% 0$9,910,000.00 ■ $3,300,000.00 M $3,215,783.75 Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chercking Accounts 0$1,020,000.00 0 $1,000,000.1)0 0$12,500,000.00 Corporate Medium Term Note Treasury Securities - Coupon Federal Agency Issues - Coupon State of California Pooled Money Investment Account Market Valuation 9/30/2000 United States Treasury: Bills $ 2,696,971,482.00 $ 2,766,856,015.29 $ 2,765,830,111.05 NA Notes $ 3,377,163,931.79 $ 3,367,550,739.87 $ 3,372,155,750.00 $ 30,161,227.25 Federal Agency: Bonds $ 2,464,776,278.70 $ 2,464,429,334.25 $ 2,463,297,089.35 $ 34,291,425.61 Floaters $ 100,000,000.00 $ 100,000,000.00 $ 100,021,000.00 $ 1,001,267.00. MBS $ 423,673,520.65 $ 423,673,520.65 $ 409,221,528.37 $ 2,298,670.87 GNMA Is 1,230,915.80 1 $ 1,230.915.80 $ 1,361,597.16 $ 12,144.58 SBA $ 324,430,070.59 $ 324,357,878.12 $ 322,771,398.35 $ 3,821,177.79 FHLMC PC $ 11,964,948.28 $ 11,964,948.28 $ 12,303,831.15 $ 192,292.29 Discount Notes $ 9,020,523,916.28 $ 9,271,510,947.47 $ 9,271,623,890.11 NA Bankers Acceptances $ 36,707,467.51 $ 37,741,987.72 $ 37,742,829.81 NA Corporate: Bonds $ 729,255,461.15 $ 727,692,577.72 $ 723,810,193.44 $ 11,849,598.25 Floaters $ 1,769,598,499.27 $ 1,769,598,499.27 $ 1,774,726,723.92 $ 14,527,045.82 CDs $ 7,119,067,092.69 $ 7,117,666,374.94 $ 7,116,932,591.40 $ 127,771,592.88 Bank Notes $ 1,290,025,941.31 $ 1,290,025,941.31 $ 1,289,876,409.10 $ 21,556,496.48 Repurchase Agreements $ - $ - $ - NA Time Deposits $ 4,037,440,000.00 $ 4,037,440,000.00 $ 4,037,440,000.00 NA AB 55 & GF Loans $ 2,550,821,107.73 $ 2,550,821,107.73 $ 2,550,821,107.73 NA Commercial Paper $ 8,274,752,096.65 $ 8,356,734,575.92 $ 8,358,070,972.87 NA Reverse Repurchase $ (1,504,124,416.00) $ 1,504,124,416.00) $ 1,504,124,416.00 $ 7,002,734.21) TOTAL $ 42,724,278,314.40 1 $ 43,115,170,948.33 $ 43,103,882,607.81 $ 240,480,204.61 Fair Value Including Accrued Interest $ 43,344,362,812.42 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). The value of each participating dollar equals the fair value divided by the amortized cost (.999738182). As an example: if an agency has an account balance of $20,000,000.00, then the agency would report its participation in the LAIF valued at $19,994,763.63 or $20,000,000.00 x .999738182. 12 Revised September 30, 2000 PHILIP ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) TYPE OF SECURITY Government Bills Bonds Notes Strips Total Governments Federal Agency Coupons Certificate of Deposits Bank Notes Bankers' Acceptances Repurchases Federal Agency Discount Notes Time Deposits GNMAs Commerical Paper FHLMC Corporate Bonds Pooled Loans GF Loans Reversed Repurchases Total (All Types) September 30, 2000 PERCENTAGE CHANGEFROM AMOUNT PERCENT PRIOR MONTH $ 2,696,971 6.31 +0.23 0 0.00 0 3,377,164 7.90 +0.68 0 0.00 0 $ 6,074,135 14.21 +0.91 $ 3,312,880 7,119,067 1,290,026 36,707 0 9,020,524 4,037,440 1,231 8,274,752 11,965 2,498,854 2,550,821 0 -1,504,124 $ 42,724,278 Average Life of Portfolio as of September 30, 2000 is 192 Days 7.75 16.67 3.02 0.08 0.00 21.11 9.45 0.00 19.37 0.03 5.86 5.97 0.00 100.00 -0.31 -2.68 -0.44 -0.01 0 +1.56 +0.07 0 +1.46 0 -0.12 -0.62 0 -0.18 5 Revised September 30, 2000