HomeMy WebLinkAboutAgenda Report - August 1, 2001 E-05CITY OF LORI COUNCIL COMMUNICATION
AGENDA TITLE: Accept the Quarterly Report of the City of Lodi Pooled Money
Investment Account as Required by SB564
MEETING DATE: August 1, 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 McAtlue
Finance Director/Treasurer
APPROVED:
Dixon ynn -- City Manager
City of Lodi
Portfolio Management
Portfolio Summary
June 30, 2001
City of Lodi
212 W. Pine St.
Lodi, CA 95240
(209)333-6800
Investments
Par
Value
Market
Value
Book
Value
% of
Portfolio Tenn
Days to
Maturity
YTM
360 Equiv.
YTM
365 Equiv.
Local Agency Investment Funds
14,100,000.00
14,100,000.00
14,100,000.00
59.68 1
1
6.076
6.160
Certificates of Deposit - Bank
2,300,000.00
2,300,000.00
2,300,000.00
9.73 351
104
6.229
6.315
PassbooWCheckingAccounts
1,730,901.55
1,730,901.55
1,730,901.55
7.33 1
1
0.000
0.000
Corporate Medium Term Note
1,020,000.00
1,042,093.20
996,818.37
4.22 1,056
687
7.151
7.250
Federal Agency Issues- Coupon
3,500,000.00
3,530,995.00
3,500,000.00
14.81 783
120
6.291
6.379
Treasury Securities - Coupon
1,000,000.00
1,008,090.00
999,853.18
4.23 626
91
6.342
6.430
Investments
23,650,901.55
23,710,078.75
23,627,373.10
100.00% 222
61
5.734
5.814
Cash and Accrued Interest
PassbookxChecking
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
23,650,901.55
23,760,260.07
23,677,553.42
222
61
5.734
5.814
Total Earnings
June 30 Month Ending
Fiscal Year To Date
Fiscal Year Ending
Current Year
116,694.43
1,913,872.30
1,913,872.30
Average Daily Balance
23,841,253.25
33,055,846.23
Effective Rate of Return
5.96%
5.79%
Base approved budget and to
the extent the budget is adhered to, liquidity is available for the ne)d three to six months. Union Bank of California is the source of market valuation.
. `7�1��,
��1 7 -ii r�/
Marcella Ma>dne Cadwallader, Revenue Manager/Deputy Tri.
Run Date: 07x1112001 -14:07
Portfolio CITY
AP
PM(PRF—PMI) SyrnReptV5,01f
City of Lodi
Portfolio Management Page 2
Portfolio Details - Investments
June 30, 2001
Average Purchase Stated YTM Days to Maturity
CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity Date
Local Agency Investment Funds
LAY 1000
Local Agency Invest. Fund
Bank of America
9,200,000.00
9,200,000.00
9,200,000.00
6.160
6.160
1
LPIC 1001
Local Agency Inv Fund (LPIC)
Farmers & Merchants
4,900,000.00
4,900,000.00
4,900,000.00
6.160
6.160
1
1
Subtotal and Average 13,536,666.67
Subtotal and Average 1,278,638.411
14,100,000.00
14,100,000.00
14,100,000.00
1,730,901.65
6.180
1
Certificates of Deposit - Bank
Corporate Medium Term Note
WEST 44
Bank of the West
04/18/2001
100,000.00
100,000.00
100,000.00
4.170
4.228
290 04/17/2002
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
92 10/01(2001
FMb7 37
Farmers & Merchants
09/27/2000
1,000,000.00
1,000,000.00
1,000,000.00
6.500
6.590
88 09/27/2001
GUAR 45
Guaranty Federal Bank
06/12/2001
100,000.00
100,000.00
100,000.00
3.840
3.893
195 01/1212002
LODI 43
Bank of Lodi
04/09/2001
100,000.00
100,000.00
100,000.00
5.250
5.323
99 10/08/2001
3133MAVS5 30
Subtotal and Average 2,298,666.67
03/01/2000
$300,000.00
2,300,000.00
2,300,000.00
7.120
6.315
104
PassbookfChecking Accounts
BACK 4003
Bank of America
07/01/2000
354,076.67
354,076.67
354,076.67
0.000
1
4000
Farmers & Merchants
1,376,824.88
1,376,824.88
1,376,824.88
0.000
1
Subtotal and Average 1,278,638.411
1,730,901.55
1,730,901.55
1,730,901.65
0.000
1
Corporate Medium Term Note
36962GSY1 35
Higgins Capital Management, In
06/27/2000
1,020,000.00
1,042,093.20
996,618.37
5.880
7.250
687 05/19/2003
Subtotal and Average 996,118.32
1,020,000.00
1,042,093.20
996,618.37
7.250
587
Federal Agency Issues - Coupon
3133M4TB9 1
Feredal Home Loan Bank (call)
07/09/1998
500,000.00
500,155.00
500,000.00
5.910
5.910
8 07/09/2001
3133M9WU2 23
Fersdal Home Loan Bank (call)
09/28/1989
1,000,000.00
1,005,620.00
1,000,000.00
6.250
6.250
89 09128/2001
3133MAVS5 30
Feredal Home Loan Bank (call)
03/01/2000
1,000,000.00
1,021,250.00
1,000,000.00
7.120
7.120
243 03/01/2002
31364=8 22
Fannie Mae Bullet
09/22/1999
1,000,000.00
1,003,970.00
1,000,000.00
6.000
6.000
85 09/24/2001
Subtotal and Average 4,733,333.33
31500,000.00
3,530,996.00
3,500,000.00
6.379
120
Treasury Securities - Coupon
912827Z54 25
U. S. Treasury Notes
01/13/2000
1,000,000.00
1,006,090.00
999,853.18
6.375
6.430
91 09/30/2001
Subtotal and Average 999,829.78
1,000,0110.00
1,008,090.00
999,863.18
6.430
91
Total Investments and Average 23,841,263.25
23,650,901.65
4710,079.75
28,627,373.10
5.814
61
Portfolio CITY
AP
Run Date: 07/11/2001 -14:07 PM (PRF PM2) SymRept V5.01f
CUSIP Investment # Issuer
Run Date: 07/11/2001 -1 4:07
City of Lodi
Portfolio Management
Portfolio Details - Cash
June 30, 2001
Average Purchase
Balance Date Par Value Market Value
Total Cash and Investments 23,841,253.25
Page 3
Stated YTM Days to
Book Value Rate 365 Maturity
Accrued Interest at Purchase 50,180.32 50,180.32
Subtotal 50,180.32 50,180.32
23,650,601.55 23,760,260.07 23,677,553A2
5.814 61
Portfolio CITY
AP
PM (PRF PM2) SynnRW V5.01f
Corporate Medium Term Note
City of Lodi
996,618.37
Federal Agency Issues - Coupon
Portfolio Management
3133MBWC4 14
Federal Home Loan Bank 6.040 06/09/2001
0.00
Page 4
3133M93F7 15
Investment Activity By Type
0.00
1,000,000.00
3133WNQ7 5
June 1, 2001 through June 30, 2001
0.00
11000,000.00
Stated Transaction Purchases
Sales/Maturities
3,000,000.00 3,600,000.00
CUSIP Investment # Issuer
Rate Date or Deposits
or Withdrawals
Balance
Local Agency Investment Funds (Monthly Summary)
LPIC 1001 Local Agency Inv Fund (LPIC)
6.160 2,000,000.00
900,000.00
Subtotal
2,000,000.00
—!
900,000.00
14,100,000.00
Certificates of Deposit - Bank
GUAR 40 Guaranty Federal Bank
5.150 06/11/2001 0.00
100,000.00
GUAR 45 Guaranty Federal Bank
3.840 06/12/2001 100,000.00
0.00
Subtotal
100,000.00
100,000.00
2,300,000.00
Passbook/Checking Accounts (Monthly Summary)
BACK 4003 Bank of America
676,161.02
485,617.98
4000 Farmers & Merchants
10,318,754.35
10,041,439.04
Subtotal
10,994,915.37
10,527,057.02
1,730,901.55
Corporate Medium Term Note
Treasury Securities - Coupon
Subtotal
Total
Run Date: 07/11/2001 -14:07
999,853.18
13,094,915.37 14,527,057.02 23,627,373.10
Portfolio CITY
AP
PM (PRF_PM3) SymRapt V5.01f
Subtotal
996,618.37
Federal Agency Issues - Coupon
3133MBWC4 14
Federal Home Loan Bank 6.040 06/09/2001
0.00
1,000,000.00
3133M93F7 15
Feredal Home Loan Bank (call) 6.175 06/28/2001
0.00
1,000,000.00
3133WNQ7 5
Feredal Home Loan Bank (call) 5.580 08/0312001
0.00
11000,000.00
Subtotal
0.00
3,000,000.00 3,600,000.00
Treasury Securities - Coupon
Subtotal
Total
Run Date: 07/11/2001 -14:07
999,853.18
13,094,915.37 14,527,057.02 23,627,373.10
Portfolio CITY
AP
PM (PRF_PM3) SymRapt V5.01f
City of Lodi
Month
End
Year
Number of
Securities
Total
Invested
Portfolio Management
Investment Activity Summary
June 2000 through June 2001
Yield to Maturity Managed
360 365 Pool
Equivalent Equivalent Rate
Number
of Securities
Purchased
Number
of Securities
Matured / Sold
Average
Term
Page 5
Average
Days to Maturity
June
2000
24
41,571,248.71
4.935 5.003 6.190
1
1
366
236
July
2000
24
32,586,090.09
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
34,419,777.62
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
January
2001
24
31,983,164.46
5.907 5.989 6.520
1
2
455
208
February
2001
21
30,698,629.94
5.713 5.792 6.520
0
3
373
151
March
2001
20
27,214,316.25
5.865 5.946 6.520
0
1
380
142
April
2001
19
28,492,110.95
5.957 6.039 6.160
2
3
325
116
May
2001
18
25,058,431.76
5.845 5.926 6.160
0
1
355
119
June
2001
15
23,627,373.10
5.734 5.814 6.160
1
4
222
61
Average 22
31,527,020.67
6.686% 5.774% 6.314
1
1
408
203
Portfolio CITY
AP
Run Date: 07111/2001 - 14:07 PM (PRF PM4) SyrnRept V5.01f
City of Lodi
Portfolio Management
Distribution of Investments By Type
June 2000 through June 2001
Page 6
June July August September October November December January February March April May June Average
Investment Type 2000 2000 2000 2DOO 2000 2000 2000 2001 2001 20M 2001 2001 2D01 by Period
Local Agency Investment Funds
39.3
40.8
40.5
39.2
34.7
38.4
32.1
41.9
45.9
45.9
55.5
51.9
59.7
43.5%
Certificates of Deposit - Bank
Certificates of Deposit - S A L
10.1
12.9
12.6
12.2
1.2.0
J
12.6
10.7
10.3
10.8
12.1
11.6
9.2
9.7
11.3%
Passbook/Checking Accounts
18.2
4.9
3.6
6.5
12.9
6.5
10.4
5.6
9.1
7.1
3.2
5.0
7.3
7.7%
Corporate Medium Term Note
2.4
3.0
3.0
2.9
2.8
2.9
3.2
3.1
3.2
3.7
3.5
4.0
4.2
3.2%
Commercial Paper - Interest Bearing
_Repurchase Agreements
_
Federal Agency issues - Coupon
27.7
35.3
37.5
36.3
34.9
36.7
40.4
36.0
27.7
27.6
22.8
25.9
14.8
31.0%
Treasury Securities - Coupon
2.4
3.1
3.0
2.9
2.8
2.9
3.1
3.3
3.7
3.5
4.0
4.2
3.2%
Mortgage Backed Securities
_
-3.2
Bankers Acceptances -Amortizing
Consrtercial Paper Disc. -Amortizing
Federal Agency Disc. -Amortizing
Treasury Discounts -Amortizing
Miscellaneous Discounts-Amortizina
Portfolio CITY
AP
Run Dace: 07/1112001-14:07 PM (PRF_PM5) SymRopt V5.01i
City of Lodi
Portfolio Management Page 7
Interest Earnings Summary
June 30, 2001
June 30 Month Ending Fiscal Year To Date
CD/Coupon/Discount investments:
Interest Collected 89,463.60 1,051,704.92
Plus Accrued Interest at End of Period 87,337.43 87,337.43
Less Accrued Interest at Beginning of Period ( 129,725.92) ( 173,909.75)
Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)
Interest Earned during Period 47,075.11 965,132.60
Adjusted by Premiums and Discounts 1,082.99 13,003.93
Adjusted by Capital Gains or Losses 0.00 0.00
Earnings during Period
Pass Through Securities:
Interest Collected
Plus Accrued Interest at End of Period
Less Accrued Interest at Beginning of Period
Less Accrued Interest at Purchase During Period
Interest Earned during Period
Adjusted by Premiums and Discounts
Adjusted by Capital Gains or Losses
48,158.10 978,136.53
0.00
0.00
0.00
0.00
( 0.00)
( 0.00)
( 0.00)
( 0.00)
0.00
0.00
0.00
0.00
0.00
0.00
Earnings during Period 0.00 0.00
Cash/Checking Accounts:
Interest Collected 0.00 809,195.50
Plus Accrued Interest at End of Period 347,598.51 347,598.51
Less Accrued Interest at Beginning of Period { 279,062.18) ( 221,058.24)
Interest Earned during Period 68,536.33 935,735.77
Total Interest Earned during Period 115,611.44 1,900,868.37
Total Adjustments from Premiums and Discounts 1,082.99 13,003.93
Total Capital Gains or Losses 0.00 0.00
Total Earnings during Period
Run Date: 07/11/2001 -14:07
116,694.43
1,913,872.30
Portfolio CITY
AP
PM (PRF PM6) SymRept V5.01f
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
BREAKDOWN OF TREASURY INVENTORY
BY TYPE
June 30, 2001
Amount
Percent of Portfolio
$14,100,000.00
59.617178%
$2,300,000.00
9.724788%
$1,730,901.55
7.318544%
$1,020,000.00
4.312732%
$1,000,000.00
4.228169%
$3,500,000.00
14.798590%
$23,650,901.55
100.00%
$3,500,000.00
Federal Agency Iss
Coupon
$1,020,000.00 15%
Corporate Medium Term '
Note
4%
$1,000,000.00
Treasury Securities -
Coupon
4%
$1,730,901.55
Passbook/Chercking
Accounts
7%
u o- > > :
K { i i { i
s o-�
L L L L S L{<
> > > > > r s
>i?i:i?{riat
{ { { < s
. . . . . . . . . .
®I�
$2,300,000.00
Certificates of Deposit -
Bank
10%
Maximum Maturitv
Indefinite
5 years
Indefinite
5 years
5 years
5 years
$14,100,000.00
Local Agency Investment
Fund
60%
0$14,100,000.00 ■ $2,300,000.00 M $1,730,901.55
Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chercking Accounts
D$1,020,000.00 0$1,000,000.00 E3 $3,500,000.00
Corporate Medium Term Note Treasury Securities - Coupon 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)
Average Life of Portfolio as of March 31, 2001 is 187 Days
5 Revised March 31, 2001
March 31, 2001
CHANGE
FROM PRIOR
TYPE OF SECURITY •
AMOUNT PERCENT
MONTH
Government
Bills
$
3,139,215
7.34
-0.55
Bonds
0
0
0
Notes
3,201,182
7.49
+0.51
Strips
0
0
0
Total Governments
$
6,340,397
14.83
-0.04
Federal Agency Coupons
$
3,205,240
7.50
-0.07
Certificate of Deposits
3,005,048
7.03
-2.11
Bank Notes
1,050,017
2.46
+0.02
Bankers' Acceptances
0
0
0
Repurchases
0
0
0
Federal Agency Discount Notes
9,292,135
21.74
+0.20
Time Deposits
4,693,345
10.98
+0.87
CNMAs
1,106
0
0
Commerical Paper
10,047,850
23.50
-0.01
FHLMC
10,795
0.02
0
Corporate Bonds
2,447,583
5.72
+0.12
Pooled Loans
2,657,552
6.22
+0.06
GF Loans
0
0
0
Reversed Repurchases
0
0
-0.96
Total (All Types)
$
42,751,068
100.00
Average Life of Portfolio as of March 31, 2001 is 187 Days
5 Revised March 31, 2001
Fair Value Including Accrued Interest
$ 43,537,433,534.82
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 (1.003713806).
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 $20,074,276.11 or $20,000,000.00 x 1.003713806.
12 Revised March 31, 2001
State of California
Pooled Money Investment Account
Market Valuation
3/31/01
HOW
United States Treasury:
Bills
$
3,139,214,805,60
$
3,221,088,409.76
$
3,238,099,000.00
NA
Notes
$
3,201,182,589.29
$
3,199,560,697.01
$
3,262,140,000.00
$
32,779,308.50
(Federal Aaencv:
Bonds
$
2.246.691.575.60
$
2,242,097,949.33
$
2,265,668,988.45
$
45,173,945.30
Floaters
$
$
MBS
$
650,589,532.44
$
650,589,532.44
$
655,920,575.84
$
3,750,083.08
GNMA
$
1,106,365.92
$
1,106,365.92
$
1,253,432.09
$
10,910.49
SBA
$
307,958,466.20
$
307,958,466.20
$
306,660,841.62
$
3,630,603.02
FHLMC PC
$
10,795,171.41
$
10,795,171.41
$
11,426,969.65
$
173,477.46
Discount Notes
$
9,292,134,742.78
$
9,602,505,591.64
$
9,633,880,162.01
NA
Acceptances
Bankers Acce tances_
$
$
-
$
-
NA
.Corporate:
Bonds
Floaters
$
911,158,821.40
$
907,448,281.96
$
919,616,249.11
$
18,700,473.35
$ 1,536,423,821.60 $ 1,536,423,821.60 $ 1,533,109,589.38 $
11,401,098.15
CDs
$
3,005,048,198.45
$
3,005,048,198.45
$
3,010,153,970.55
$
40,916,188.88
Bank Notes
$
1,050,017,557.69
$
1,050,017,557.69
$
1,051,694,009.00
$
17,368,986.82
Repurchase Agreement
Time De osits
$
-
$
-
$
-
NA
$ 4,693,345,000.00 $ 4,693,345,000.00 $ 4,693,345,000.00
NA
_
AB 55 & GF Loans
$
2,657,551,885.46
$
2,657,551,885.46
$
2,657,551,885.46
NA
Commercial Paper
Reverse Repurchase
$
10,047,849,526.49
$
10,117,543,685.55
$
10,123,007,786.61
NA
$ - $ - $ - $
TOTAL
I $
42.751.068.060.33
$
43,203,080,614.42
$
43,363,528,459.77
$
173,905,075.05
Fair Value Including Accrued Interest
$ 43,537,433,534.82
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 (1.003713806).
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 $20,074,276.11 or $20,000,000.00 x 1.003713806.
12 Revised March 31, 2001