HomeMy WebLinkAboutAgenda Report - May 1, 2002 E-03CITY OF LODI COUNCIL COMMUNICATION
B
AGENDA TITLE: Accept the Quarterly Investment Account report
MEETING DATE: May 1, 2002
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 McAthi
Finance Director/Treasurer
r
APPROVED:
Dixon Flynn -- City Manager
City of Lodi
Portfolio Management
Portfolio Summary
March 31, 2002
Run Date. 041052002 -1411
City of Lodi
212 W. Pine St.
Lodi, CA 95240
(209)333-6800
YTM
360 Equiv.
Par Market
Book
%of
3.105
Days to
Investments
Value Value
Value
Portfolio
Term
Maturity
Local Agency Investment Funds
11,380,000.00 11,380,000.00
11,380,000.00
66.10
1
1
Certificates of Deposit - Bank
2,300,000.00 2,300,000.00
2,300,000.00
13.36
201
20
Passbook/CheckingAccounts
1,530,305.72 1,530,305.72
1,530,305.72
8.89
1
1
Corporate Medium Term Note
1,020,000.00 1,049,508.60
1,005,929.64
5.84
1,056
413
Federal Agency Issues - Coupon
1,000,000.00 1,008,130.00
1,000,000.00
5.81
1,095
840
Investments
17,230,305.72 17,267,944.32
17,216,235.36
100.00%
153
76
Total Earnings
--
March 31 Month Ending Fiscal Year To Date
---- .--------...----
Current Year
49,191.97 580,215.86
Average Daily Balance
20,389,329.46 20,368,716.44
Effective Rate of Return
2.840/6 3.79%
Based on the approved budget and to the extent the budget is adhered to, liquidity is available for the next 30 days. Union Bank of California is the source of market valuation.
Marcella Maxine Cadwallader, Revenue Manager/Deputy Treas.
Run Date. 041052002 -1411
City of Lodi
212 W. Pine St.
Lodi, CA 95240
(209)333-6800
YTM
360 Equiv.
YTM
385 Equiv.
2.949
2.990
3.105
3.148
0.000
0,000
7.151
7.250
4.981
5.050
3.071
3.114
Portfolio CITY
AP
PM (PRF PM1) Sym Rept V5.01f
City of Lodi
Portfolio Management Page 2
Portfolio Details - Investments
March 31, 2002
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
LAIF 1000
Local Agency Invest. Fund
8,380,000.00
8,380,000.00
8,360,000.00
2.990
2.949
1
LPIC 1001
Local Agency Inv Fund (LPIC)
3,000,000.00
3,000,000.00
3,000,000.00
2.990
2.949
1
Subtotal and Average 12,805,806.45
11,380,000.00
11,380,000.00
11,380,000.00
2.949
1
Certificates of Deposit - Bank
WEST 44
Bank of the West
04/18/2001
100,000,00
100,000.00
100,000.00
4.170
4.170
16 04/17/2002
FM10 47
Farmers and Merchants Bank
10/01/2001
1,000,000.00
1,000,000.00
1,000,000.00
3.100
3.100
0 04/0112002
FM09 48
Farmers and Merchants Bank
10/09/2001
1,000,000.00
1,000,000.00
1,000,000.00
3.100
3.100
30 05/01/2002
GUAR 50
Guaranty Federal Bank
01/14/2002
100,000.00
100,000.00
100,000.00
1.990
1.990
135 08/14/2002
LODI 49
Bank of Lodi
10/10/2001
100,000.00
100,000.00
100,000.00
3.250
3.250
5 04/06/2002
Subtotal and Average 2,300,000.00
2,300,000,00
2,300,000.00
2,300,000.00
3.105
20
Passbook/Checking Accounts
BACK 4003
Bank of America
07101/2001
192,869.65
192,869.65
192,869,65
0.000
1
4000
Farmers & Merchants
1,337,436.07
1,337,436.07
1,337,436.07
0.000
1
Subtotal and Average 3,278,077.29
1,530,305.72
1,530,305.72
1,530,305,72
0.000
1
Corporate Medium Term Note
36962GSY1 35
Higgins Capital Management, In
06/27/2000
1,020,000.00
1,049,508.60
1,005,929.64
5.880
AAA 7.151
413 05/19/2003
Subtotal and Average 1,005,445.72
1,020,000.00
1,049,508.60
1,006,929.64
7.151
413
Federal Agency Issues - Coupon
31331LMN5060 46
Federal Farm Credit Bank
07/20/2001
1,000,000.00
1,008,130.00
1,000,000.00
5.050
4.981
840 07/19/2004
Subtotal and Average 1,000,000.00
1,000,000.00
1,008,130.00
1,000,000.00
4.981
840
Total Investments and Average 20,369,329.46
17,230,305.72
17,267,944.32
17,216,235.36
3.071
76
Portfolio CITY
AP
Run Date. 04/05/2002- 14:11
PM (PRF_PM2) SymRept V5.01f
City of Lodi
Portfolio Management
Portfolio Details - Cash
March 31, 2002
Page 3
Average Purchase Stated YTM Days to
CUSIP Investment it Issuer Balance Date Par Value Market Value Book Value Rate Moody s 360 Maturity
Total Cash and Investments 20,389,329.46
Run Date. 04/0512002 - 14:11
17, 230, 305.72 17, 267, 944.32 17, 216, 235.36
3.071 76
Portfolio CITY
AP
PM (PRF PM2) Sym Rept V5.01f
City of Lodi
Portfolio Management
Page 4
Investment Activity By Type
March 1, 2002 through March 31, 2002
Stated Transaction Purchases Sales/Maturitles
CUSIP Investment # Issuer Rate Date or Deposits or Withdrawals Balance
Local Agency Investment Funds (Monthly Summary)
LAIF 1000 Local Agency Invest. Fund 2.990 1,700,000.00 0.00
LPIC 1001 Local Agency Inv Fund (LPIC) 2.990 0.00 3,000,000.00
Subtotal 1,700,000.00 3,000,000.00 11,380,000.00
Certificates of Deposit - Bank
Subtotal
Passbook/Checking Accounts (Monthly Summary)
BACK 4003 Bank of America
4000 Farmers & Merchants
Subtotal
Corporate Medium Term Note
Federal Agency Issues - Coupon
3133MAVSS 30
Run Date: 04/05/2002 - 14:11
Subtotal
Feredal Nome Loan Bank (call)
Subtotal
Total
383,488.47 385,652.65
11,055,128.89 12,s5a,995.33
11,433,617.36 13,244,647.96 1,530,305.72
7.120 03/01/2002 0.00 1,000,000.00
0.00 1,000,000.00
13,138, 617.36 17, 244, 647.98
1,005,929.64
1,000,000.00
17,216,235.36
Portfolio CITY
AP
PM (PRF PM3) SyrnRept V5.01 f
City of Lodi
Portfolio Management
Investment Activity Summary
March 2001 through March 2002
Page 5
Run Date 041050002-14.11
Average 14 21,486,603.91 4.584% 4.648% 4.915 1 1 236 99
Portfolio CITY
AP
PM (PRF_PM4) SyrnRept V5.01f
Yield to Maturity
Managed
Number
Number
Month
Number of
Total
360
365
Pool
of Securities
of Securities
Average
Average
End
Year
Securities
Invested
Equivalent
Equivalent
Rate
Purchased
Matured / Sold
Term
Days to Maturity
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
July
2001
15
20,008,838.21
5.670
5.748
6.160
2
1
289
115
August
2001
15
18,036,820.89
5.674
5.753
6.160
0
0
321
113
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
Run Date 041050002-14.11
Average 14 21,486,603.91 4.584% 4.648% 4.915 1 1 236 99
Portfolio CITY
AP
PM (PRF_PM4) SyrnRept V5.01f
Investment Type
March
2001
April
2001
City of Lodi
Portfolio Management
Distribution of Investments By Type
March 2001 through March 2002
May June July August September October
2001 2001 2001 2001 2001 2001
November
2001
December
2001
January
2002
February
2002
March
2002
Page 6
Average
by Period
Local Agency Investment Funds
45.9-
55.5
51.9
59.7 50.6 46.0 52.7
56.5
67.0
57.4
63.9
- 59.5
66.1
56.4%
Certificates of Deposit - Bank
12.1
11.6
9.2
9.7 11.5 12.8 8.3
10.5
10.4
13.5
10.8
10.8
13.4
11.1%
Certificates of Deposit - S 3 L
Passbook/Checking Accounts
7.1
3.2
5.0
7.3 7.9 8.0 20.0
19.4
9.1
11.6
11.2
15.7
8.9
10.3%
Corporate Medium Term Note
3.7
3.5
4.0
4.2 5.0 5.5 6.3
4.6
4.5
5.9
4.7
4.7
5.8
4.8%
Commercial Paper - Interest Bearing
Repurchase Agreements
Federal Agency Issues - Coupon
27.6
22.8
25.9
14.8 20.0 22.2 12.7
9.1
9.0
11.7
9.4
9.4
5.8
15.4%
Treasury Securities - Coupon
3.7
3.5
4.0
4.2 5.0 5.5
2.0%
Mortgage Backed Securities
Bankers Acceptances -Amortizing
Commercial Paper Disc. -Amortizing
Federal Agency Disc. -Amortizing
Treasury Discounts -Amortizing
Miscellaneous Discounts -Amortizing
Run Date. 04/05/2002- 14:11
Portfolio CITY
AP
PM (PRF-PM5) SyrnRept V5.01f
City of Lodi
Portfolio Management
Interest Earnings Summary
March 31, 2002
March 31 Month Ending
CD/Coupon/Discount Investments:
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
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
Earnings during Period
Cash/Checking Accounts:
Interest Collected
Plus Accrued Interest at End of Period
Less Accrued Interest at Beginning of Period
Interest Earned during Period
66,268.75
-22,198.40
( 28,714.83)
( 0.00)
15,355.52
1,034.59
0.00
16,390.11
0.00
0.00
( 0.00)
( 0.00)
0.00
0.00
0.00
0.00
0.00
95,008.65
( 62,206.79)
32,801.86
Fiscal Year To Date
354,311.27
-22,198.40
( 87,163.75)
( 0.00)
244,949.12
9,458.09
0.00
254,407.21
0.00
0.00
( 0.00)
( 0.00)
0.00
0.00
0.00
0.00
437,780.40
95,008.65
( 206,980.40)
325,808.65
Total Interest Earned during Period 48,157.38 570,757.77
Total Adjustments from Premiums and Discounts 1,034.59 9,458.09
Total Capital Gains or Losses 0.00 0.00
Total Earnings during Period
Run Date04/05/2002-14:11
Page 7
49,191.97 580,215.86
Portfolio CITY
AP
PM (PRF_PM6) Sym Rept 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
March 31, 2002
Amount
Percent of Portfolio
$11,380,000.00
66.046420%
$2,300,000.00
13.348573%
$1,530,305.72
8.881477%
$1,020,000.00
5.919802%
0.000000%
$1,000,000.00
5.803728%
$17,230,305.72
100.00%
$1,000,000.00
Federal Agency Issues -
$1,020,000.00 Coupon
Corporate Medium Term
Treasury Securities - Note %
Coupon $1,530,305.726% ,
0%
Passbook/Chercking
Accounts
9/0
$2,300,000.00 »',.•.,aL.v
Certificates of deposit
Bank
13°6
0$11,380,000.00
Local Agency Investment Fund
13$1,020,000.00
Corporate Medium Term Note
Maximum Maturitv
Indefinite
5 years
Indefinite
5 years
5 years
5 years
$11,380,000.00
_oval Agency Investment
Fund
66%
■$2,300,000.00
Certificates of Deposit - Bank
0Treasury Securities - Coupon
13$1,530,305.72
Passbook/Chercking Accounts
E)$1,000,000.00
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)
December 31, 2001
Average Life of Portfolio as of December 31, 2001 is 183 Days
5 Revised December 31, 2001
PERCENTAGE
CHANGE FROM
TYPE OF SECURITY
AMOUNT
PERCENT
PRIOR MONTH
Government
Bills
$
1,138,076
2.29
+0.57
Bonds
0
0
0
Notes
4,318,604
8.68
+0.64
Strips
0
0
0
Total Governments
$
5,456,680
10.97
+1.21
Federal Agency Coupons
$
5,205,539
10.46
-0.17
Certificate of Deposits
5,240,047
10.53
-1.42
Bank Notes
1,115,009
2.24
-0.05
Bankers' Acceptances
17,877
0.03
+0.03
Repurchases
0
0
0
Federal Agency Discount Notes
10,929,044
21.96
-2.81
Time Deposits
5,078,795
10.20
+0.22
GNMAs
859
0
0
Commerical Paper
11,511,436
23.13
+3.17
FHLMC
8,621
0.02
0
Corporate Bonds
2,511,685
5.05
+0.17
Pooled Loans
2,989,262
6.01
+0.25
GF Loans
0
0
0
Reversed Repurchases
-300,375
-0.60
+0.60
Total (All Types)
$
49,764,479
100.00
Average Life of Portfolio as of December 31, 2001 is 183 Days
5 Revised December 31, 2001
Fair Value Including Accrued Interest
$ 50,316,143,978.14
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 (1.003787124).
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 $20,075,742.49 or $20,000,000.00 x 1.003787124.
12 Revised December 31, 2001
State of California
Pooled Money Investment Account
Market Valuation
12/31/01
Description
Carrying Cost Plus
Accrued Interest Purch.
Amortized Cost
Fair Value
Accrued Interest
United States Treasury-,
Bills
$
1,138,075,722.39
$
1,142,970,729.26
$ 1,144,122,500.00
NA
Notes
$
4,318,603,694.27
$
4,317,850,975.48
$ 4,399,497,250.00
$
64,881,050.50
Federal Agency:
SBA
$
264,505,629.34
$
264,505,629.34
$ 263,984,645.25
$
1,576,449.67
MBS
$
698,079,442.09
$
698,079,442.09
$ 701,163,186.71
$
3,605,331.70
Bonds
$
4,242,953,871.84
$
4,242,268,976.01
$ 4,286,070,714.80
$
57,732,513.78
Floaters
$
-
$
-
$ -
$
-
Discount Notes
$
10,929,043,768.36
$
11,065,396,065.60
$ 11,096,090,229.32
NA
FHLMC PC
$
8,620,709.82
$
8,620,709.82
$ 9,348,175.20
$
138,601.70
GNMA
$
858,833.75
$
858,833.75
$ 989,249.21
$
8,503.83
Bankers Acceptances
$
17,877,221.82
$
17,881,030.68
$ 17,885,350.72
NA
Sank Notes
$
1,115,008,664.83
$
1,115,008,664.83
$ 1,118,500,239.55
$
14,780,287.16
CDs
$
5,240,047,588.05
$
5,240,047,588.05
$ 5,243,868,828.60
$
20,793,138.88
Commercial Paper
$
11,511,436,136.36
$
11,548,460,782.67
$ 11,554,908,922.17
NA
Corporate:
Floaters
$
1,246,949,677.63
$
1,246,791,506.79
$ 1,240,379,079.10
$
4,230,804.06
Bonds
$
1,264,735,633.69
$
1,263,385,126.14
$ 1,284,445,955.88
$
19,936,017.20
Repurchase Agreements
$
-
$
-
$ -
NA
Reverse Repurchase
$
300,375,000.00
$
300,375,000.00
$ 300,375,000.00
$
475,593.75
Time Deposits
$
5,078,795,000.00
$
5,078,795,000.00
$ 5,078,795,000.00
NA
AB 55 & GF Loans
$
2,989,262,546.90
$
2,989,262,546.90
$ 2,989,262,546.90
NA
1
TOTAL
$
49,764,479,141.14
$
49,939,808,607.40
$ 50,128,936,8 3.41
1 $
187,207,104.73
Fair Value Including Accrued Interest
$ 50,316,143,978.14
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 (1.003787124).
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 $20,075,742.49 or $20,000,000.00 x 1.003787124.
12 Revised December 31, 2001