The URL can be used to link to this page

Home My WebLink AboutAgenda Report - August 7, 2002 E-03M� OQ O`G OF • DI 9</FORS COUNCIL COMMUNICATION AGENDA TITLE: Accept the Quarterly Investment Account report as required by law SB564 MEETING DATE: August 7, 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 S13564. 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 APPROVED: )inn -- City Manager Investments Local Agency Investment Funds Certificates of Deposit - Bank Passbook/Checking Accounts Corporate Medium Term Note Federal Agency Issues - Coupon Par Value 11,700,000.00 1,300,000.00 1,900,617.39 1,020,000.00 1,000,000.00 City of Lodi Portfolio Management Portfolio Summary June 30, 2002 Market Value 11,700,000.00 1,300,000.00 1,900,617.39 1,049,702.40 1,001,560.00 Book % of Value Portfolio Tenn 11,700,000.00 69.19 1 1,300,000.00 7.69 197 1,900,617.39 11.24 1 1,009,033.39 5.97 1,056 1,000,000.00 5.91 1,095 Days to Maturity 1 124 1 322 749 Investments 16,920,617.39 16,951,879.79 16,909,650.78 100.00% 144 74 Total Earnings June 30 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 43,632.99 719,484.37 719,484.37 Average Daily Balance 19,736,952.23 20,694,331.09 Effective Rate of Return 2.69% 3.48% 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 Ma)ane Cadwallader, Revenue Manager/Deputy Tress. Run Date: 07/12!2002 -11:23 City of Lodi 212 W. Pine St. Lodi, CA 95240 (209)333-68M YTM 360 Equiv. 2.722 2.130 0.000 7.151 4.981 2.769 YTM 365 Equiv. 2.760 2.160 0.000 7.250 5.050 2.807 Portfolio CITY AP PM (PRF PM1) SymRept V5.01f City of Lodi Portfolio Management Portfolio Details - Investments June 30, 2002 Page 2 Subtotal and Average 3,112,924.92 Average Purchase 1,900,617.39 0.000 1 Stated YTM Days to Maturity CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate Mood's 360 Maturity Date i Local Agency Investment Funds 322 05/192003 Subtotal and Average 1,006,633.36 1,020,000.00 1,049,70240 1,009,033.39 7.181 322 Federal Agency Issues - Coupon LAIF 1000 Lows Agency Invest. Fund 9,500,000.00 9,500,000.00 9,500,000.00 2.780 2.722 1 j LPIC 1001 Local Agency Inv Fund (LPIC) Subtotal and Average 1,000,000.00 2,200,000.00 2,200,000.00 2,200,000.00 2.760 2.722 1 Subtotal and Average 13,315,493.97 11,700,000.00 11,700,000.00 11,700,000.00 2.722 1 t Certificates of Deposit - Bank WEST 52 Bank of the West 04/17/2002 100,000.00 100,000.00 100,000.00 2.220 2.220 290 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 2.150 119 1028/2002 GUAR 50 Guaranty Federal Bank 01/142002 100,000.00 100,000.00 100,000.00 1.990 1.990 44 08/142002 LODI 51 Bank of Lodi 04/062002 100,000.00 100,000.00 100,000.00 1.980 1.980 94 10/032002 Subtotal and Average 1,300,000.00 1,300,000.00 1,300,000.00 1,300,000.00 2.130 124 Passbook/Checking Accounts BACK 4003 Bank of America 07/012001 355,588.59 355,588.59 355,588.59 0.000 1 4000 Farmers & Merchants 1,545,028.80 1,545,028.80 1,545,028.80 0.000 1 Subtotal and Average 3,112,924.92 1,900,617.39 1,900,617.39 1,900,617.39 0.000 1 Corporate Medium Term Note 36962GSY1 35 Higgins Capital Management, In 06272000 1,020,000.00 1,049,702.40 1,009,033.39 5.880 AAA 7.151 322 05/192003 Subtotal and Average 1,006,633.36 1,020,000.00 1,049,70240 1,009,033.39 7.181 322 Federal Agency Issues - Coupon 31331LMN5060 46 Federal Farm Credit Bank 07202001 1,000,000.00 1,001,560.00 1,000,000.00 5.050 4.981 749 07/192004 Subtotal and Average 1,000,000.00 1,000,000.00 1,001,560.00 1,000,000.00 4.961 749 Total Investments and Average 19,736,95223 16,920,617.39 16,951,879.79 16,909,650.78 2769 74 Portfolio CITY AP Run Date: 07/1 212002 -11:23 PM (PRF PM2) SyrnRept V5.01f City of Lodi Portfolio Management Page 3 Portfolio Details - Cash June 30, 2002 Average Purchase Stated YTM Days to CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate Moody's 360 Maturity Total Cash and Investments 19,736,96223 16,920,617.39 16,961,676.79 16,906,850.78 2.769 74 i i 1 i i i POW0110 CITY AP Run Date: 07/12/2002 -11:23 PM (PRF P!02) SyrnRMA V5.01f Run Date: 0711212002 -11:23 Portfolio CITY AP PM (PRF PM3) SymRept V5.01f City of Lodi Portfolio Management Page Investment Activity By Type June 1, 2002 through June 30, 2002 Stated Transaction Purchases SalealMaturltles CUSIP Investment # Issuer Rate Date or Deposits or Withdrawals Balance Local Agency Investment Funds (Monthly Summary) LAIF 1000 Local Agency Invest. Fund 2.760 0.00 2,939,107.00 �I LPIC 1001 Local Agency Inv Fund (LPIC) 2.760 1,500,000.00 0.00 Subtotal 1,600,000.00 2,939,107.00 11,700,000.00 Certificates of Deposit - Bank Subtotal 1,300,000.00 PasslwoklChecking Accounts )Monthly Summary) BACK 4003 Bank of America 409,083.37 384,006.56 4000 Farmers & Merchants 11,329,039.90 12,608,227.95 Subtotal 11,738,123.27 12,992,234.51 1,900,617.39 Corporate Medium Term Note Subtotal 1,009,088.39 Federal Agency Issues - Coupon Subtotal 1,000,000.00 Total 13,238,123.27 15,931,341.51 16,909,660.76 Run Date: 0711212002 -11:23 Portfolio CITY AP PM (PRF PM3) SymRept V5.01f City of Lodi Month End Year Number of Securities Total Invested Portfolio Management Investment Activity Summary June 2001 through June 2002 Yield to Maturity Managed 360 315 Pool Equivalent Equivalent Rate Number of Securities Purchased Number of Securities Matured / Sold Average Term Page 6 Average Days to Maturity 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 j 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 Average 12 19,910,610.68 3.821% 3.875% 4.118 1 1 183 85 Run Date: 07/12/2002-11:23 Portfolio CITY AP PM (PRF_PM4) SMRept V5.01f City of Lodi Portfolio Management Page 6 Distribution of Investments By Type June 2001 through June 2002 Investment Type June 2001 July 2001 August September 2001 2001 October 2001 November 2001 December 2001 January 2002 February 2002 March 2002 April 2002 May 2002 June 2002 Average by Period Local Agency Investment Funds 59.7 50.6 46.0 52.7 56.5 67.0 57.4 63.9 59.5 66.1 5B.8 67.0 69.2 59.6% Certificates of Deposit - Bank 9.7 11.5 12.8 8.3 10.5 10.4 13.5 10.8 10.8 13.4 5.5 6.6 7.7 10.1% Certificates of Deposit - S & L Passbook/Checking Accounts 7.3 7.9 8.0 20.0 19.4 9.1 11.6 11.2 15.7 8.9 27.3 16.1 11.2 13.4% Corporate Medium Term Note 4.2 5.0 5.5 6.3 4.6 4.5 5.9 4.7 4.7 5.8 4.2 5.1 6.0 5.1% Commerclai Paper - Interest Beartna Federal Agency Issues - Coupon 14.8 20.0 22.2 12.7 9.1 9.0 11.7 9.4 9.4 5.8 4.2 5.1 5.9 10.7% Treasury Securities - Coupon 4.2 5.0 5.5 1.1 % Mortgage Backed Securities Bankers Acceptances -Amortizing Commercial Paper Disc. -Amortizing Federal Agency Disc. -Amortizing Treasury Discounts-Amortizina Miscellaneous Discounts Run Date: 07/12/2002 -11:23 Portfolio CITY AP PM (PRF PM5) SyrnRept V5.01f City of Lodi Pass Through Securities: Portfolio Management Page 7 Interest Earnings Summary 0.00 0.00 June 30, 2002 0.00 0.00 June 30 Month Ending Fiscal Year To Date CDICoupon[Discount investments: Less Accrued Interest at Purchase During Period ( 0.00) Interest Collected 354.02 373,324.77 Plus Accrued Interest at End of Period 5,683.07 5,683.07 Less Accrued Interest at Beginning of Period ( -16,842.89) ( 87,163.75) Less Accrued Interest at Purchase During Period { 0.00) ( 0.00) Interest Earned during Period 11,513.84 280,477.95 Adjusted by Premiums and Discounts 1,034.58 12,561.84 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Period 12,548.42 293,039.79 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 0.00 528,505.62 Plus Accrued Interest at End of Period 104,919.36 104,919.36 Less Accrued Interest at Beginning of Period ( 73,834.79) ( 206,980.40) Interest Earned during Period 31,084.57 426,444.58 Total Interest Earned during Period 42,598A7 706,922.53 Total Adjustments from Premiums and Discounts 1,034.58 12,561.84 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 43,532.99 719,484.37 Run Date: 07/12/2002 -11:23 Portfolio CITY AP PM (PRF_PMB) SynnRept 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, 2002 Amount Percent of Portfolio $11,700,000.00 69.146413% $1,300,000.00 7.682935% $1,900,617.39 11.232553% $1,020,000.00 6.028149% 0.000000% $1,000,000.00 5.909950% $16,920,617.39 100.00% $1,000,000.00 Federal Agency Issues - $1,020,000.00 Coupon Corporate Medium Term Treasury Securities - Note }`>` ;tt Coupon 6% 0% $1,900,617.39 Pasebook/Chercking Accounts 11% $1,300,000.00 Certificates of Deposit Bank 8% Maximum Maturitv Indefinite 5 years Indefinite 5 years 5 years 5 years $11,700 000.00 0$11,700,000.00 ■ $1,300,000.00 ■ $1,900,617.39 Local Agency Investment Fund Certificates of Deposit - Bank Passbook/Chercking Accounts 0$1,020,000.00 0Treasury Securities -Coupon U$1,000,000.00 Corporate Medium Term Note 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) March 31, 2002 Average Life of Portfolio as of March 31, 2002 is 188 Days 5 Revised March 31, 2002 PERCENTAGE CHANGE FROM TYPE OF SECURITY AMOUNT PERCENT PRIOR MONTH Government Bills $ 792,848 1.68 -0.47 Bonds 0 0 0 Notes 5,994,691 12.71 +1.45 Strips 0 0 0 Total Governments $ 6,787,539 14.39 +0.98 Federal Agency Coupons $ 4,930,444 10.45 +0.93 Certificate of Deposits 5,835,098 12.37 +0.69 Bank Notes 625,006 1.33 -0.68 Bankers' Acceptances 17,877 0.04 +0.01 Repurchases 0 0 0 Federal Agency Discount Notes 9,100,703 19.30 -4.34 Time Deposits 5,204,195 11.03 +0.74 GNMAs 804 0 0 Commerical Paper 9,341,293 19.81 +0.06 FHLMC 7,875 0.02 0 Corporate Bonds 2,450,024 5.19 +0.36 Pooled Loans 2,674,838 5.67 -0.35 GF Loans 1,188,200 2.52 +2.52 Reversed Repurchases -1,002,512 -2.12 +0.92 Total (All Types) $ 47,161,384 100.00 Average Life of Portfolio as of March 31, 2002 is 188 Days 5 Revised March 31, 2002 Jnited States Bills Notes SBA MBS Bonds Floaters Discount Notes FHLMC PC GNMA Bank Notes CDs Commercial corporate: Floaters Bonds Reverse Repurchas( Time Deposits AB 55 & GF Loans TOTAL H 792,847,736.18 $ 797,508,166.69 $ 797,410,000.00 1 NA 5,994,690,909.66 $ 5,979,081,386.85 $ 5,992,553,000.00 1 $ 70,057,147.50 248,945,284.47 $ 248,945,284.47 $ 572,948,501.57 $ 572,948,501.57 $ 108,550,641.95 $ 4,108,227,375.29 $ 1,505,720,786.85 $ 1,504,513,130.61 100,703,490.18 $ 9,225,187,190.83 $ 7,874,878.28 $ 7,874,878.28 $ 804,484.67 $ 804,484.67 $ 17,877,221.82 $ 17,966,729.96 $ 625,005,667.97 $ 625,005,667.97 $ 835,097,928.23 $ 5,835,054,664.34 $ 341,293,494.43 $ 9,358,122,548.62 $ 248,461,311.15 $ 965,308.68 573,892,783.96 $ 2,894,343.26 4,122,779,769.55 $ 53,796,087.70 1,505,720,786.85 $ 1,504,513,130.61 9,235,613,038.00 1,508,250,326.90 NA 8,584,490.79 $ 126,619.49 927,378.41 $ 7,977.90 17,965,727.63 - NA 625,701,502.00 $ 18,161,872.50 5,834,416,391.30 $ 30,545,308.32 9,358,352,625.00 $ NA $ 944,302,925.76 $ 944,302,925.76 $ 937,705,938.48 $ 2,429,722.97 $ 1,505,720,786.85 $ 1,504,513,130.61 $ 1,508,250,326.90 $ 26,353,858.551 $ - $ - $ NA $ 1,002,512,500.00) $ (1,002,512,500.00) $ (1,002,512,500.00) $ (4,810,529.43 $1-. 5,204,195,000.00 $ 5,204,195,000.00 $ 5,204,195,000.00 NA $ 3,863,037,686.53 $ 3,863,037,686.53 $ 3,863,037,686.53 NA $ 47,161,384,138.55 1 $ 47,290,263,122.44 1 $ 47,327,334,469.70 1 $ 200,527,717.44 Fair Value Including Accrued Interest $ 47,527,862,187.14 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). * Updated after the initial Market Valuation. The value of each participating dollar equals the fair value divided by the amortized cost (1.000783911). 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 $20,015,678.22 or $20,000,000.00 x 1.000783911. 12 Revised March 31, 2002