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Home My WebLink AboutAgenda Report - August 4, 2004 E-03AGENDA ITEM Fo**3 MEETING DATE: August 4, 2004 PREPARED BY: Finance Director/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 SB 564. BACKGROUND INFORMATION: The investment report is currently included in the monthly executive report distributed to Council. SB 564 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 JK/mmc Attachmentzq mes:Krueger, Finance Dir or/Treasurer . APPROVED: —fDVixon F -1v iUC�itvMan�aer 1w Of Security LooW Agency Investment Fund Certificates of Deposit - Bank Passbook/Cheaking Accounts Corporate Medium Term Note Treasury Securifies - Coupon Federal Agency issues - Coupon kffimk�# �" Affl2u Percent of Portfob o djxitnugm W_Sj_uo& L $17,420,824.24 70.517014% Indefinite $1,300,000-00 5.262216% 5 years $5,983,602.89 24220772% indefinite D,ODDDDO% 5 years O.ODDDDO% 5 years 0�01)0000% 5 years .12-4,704.427, 1 �—!- 00% Corporate Medium Term Treasury Securities - NOW Federal Agency Issues - Camon 0% CMJPM $50302,69 Pas sbooktChookin Acco" v% $1,3DO,OW.OD Certificates of Depost: 8 ank 6% 117,42(1,07A.24 Agency Investment Fund 71% * Local Agency InveetimWit FUnd $17,420,824.24 i3cwtifiewas or DOPOW - ml* $1.3w,000,W * PSSWXxWOW*ft A=MM $6,W3,602.89 mcmpmft Mom= TOM Note * Tmwjry Swaks - cmipco 13 FedwW Agancy Issum - Coupon Investments �1 LocW Agency InvesIment Funds Certificates of Deposit - Barik Passbook/Checking Accounts Investments City of Lodi City of Lodi 212 W. Pine St. Lodi, CA 95240 Porffofio Management �209)333-6800 Portfolio Summary June 30, 2004 Par Market Book %of Days to YTM YTM value Value Value POW040 Term Matu r ity 360 Equlv� 365 Equiv. 17,420,82424 1'3=)00�00 5,983,602,89 24,704,427.13 17,420,824.24 1,300X0.00 5.983,602.89 24,704,427.13 17,420,824.24 7052 1 1 1 �430 1.450 1'300'WO'GO .5.26 209 125 1.022 1.036 6,983,602.89 24.22 1 1 0-000 0,000 100.00% 12 8 1.062 .. ... ... ... .... . 1�077 24,704,427,13 Total Earnings 4 June 30 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 22,200.67 266,845.74 266,845.74 Average Daily Balance 24,339,045Z5 22,322,028.28 Effective Rate of Return 1.11% 1,19% Bas e approved budget and to the extent the budget is adhered to, liquidity is ava�labie for the next six months. Union Bank of California is ft source of market valuation. I Marcella Maxine Cadwallader, Revenue Manager/Deputy Treas, Sun t)ale: 97112/2004 - 15:05 Portfolio CITY AC PM (PRF�-Pml) sy;mept V6�21 Report Ver. 5.00 Run DaW Olf-12/204 - 15;05 Portfolio CITY AC PM (PRF�_PM2) Syraflept V6.21 Roporl Wr. 5M City of Lodi Portfolio Management Page 2 Portfolio Details - Investments June 30, 2004 Average Purchase Stated YTM Daysto Maturity I Investment It Issuer f3alance 'USIP Date Par Value Market Value Book Value Rate Mood ys 360 Maturity Date Local Agency Investment Funds �AIF 1000 t-ocal Agency Invest- Fund 16,614,287�36 16,614,2$7.36 16,614,287.36 1 �450 1.430 1 -Plc 1001 Loca! Agency hw Fund O -PP 806,536,88 �)06,536.88 806,536.88 1A50 1A30 1 Subtotal and Average 17,420,824.24 17,420,824.24 17,420,824.24 17,420,824,24 1.430 1 Certificates of Deposit - Bank SYS72WEST 72 Bank of the West 04117/2OG4 100,0w.00 100,omoo 100,W0.00 1.090 1.090 2!)o 0411712005 SYS685A 68 Bank of Amehca 12/1712003 100,000.00 100,0W.00 1w,000-00 1.050 1.050 169 1211712OD4 SYS73FM 73 Farmers and Merchants Bank 0412012004 1,wO.O()O,GO 1,=,000.00 1,0w,000.00 1.000 1.000 108 10/1 7P2W4 SYS70LODI 70 Bank of Lod 03/26/2004 100,000.00 i00,000.00 100,000.00 1A40 1.140 83 0912212004 Subtotal and Average 1,300,WO.DO 1,300,000.00 1,300,000.00 1,300,000,00 1.022 125 Passbook/Checking Accounts BACK 4003 Bank of America 07M-1/2003 202,724.60 202,724.60 202,724.60 0.000 1 SYS40w 4000 Farmers & Merchants 5,780,878.29 5,780,878.29 5,780,876,29 Subtotal and Average 5,618,221.31 5,"3,r>02.89 5,983,60Z89 5103j602,89 Total and Average 24,339,045.55 24,704,427.13 24,704,427.13 24,704,427.13 1.062 8 Run DaW Olf-12/204 - 15;05 Portfolio CITY AC PM (PRF�_PM2) Syraflept V6.21 Roporl Wr. 5M . L Portfolio Management Page 3 Activity By Type June 1, 2004 through June 30, 2004 Stated Transaction Purchases Redemptions CUSIP Investment Issuer Rate Date or Deposits or Withdrawals Balance Local Agency Investment Funds (Monthly Summary) Subtotal 17,420,824.24 Certificates of Deposit - Bank Subtotal PassbookfChecklng Accounts (Monthly Summary) BACK 4CO3 Bank of America 317,522.91 0,00 SYS4000 4000 Farmefs & Merchants 11,955,808.86 11,895,350.83 Subtotal 12,273,331.77 11,895,350,83 6,983,602,89 Total 12,273,331.77 11,895,3SO�83 24,704,427.13 Portfolio CITY AC Run Date: 0711212004 - 15�05 PM (PRF-PM3) Syrrsepl V6.21 Report VLr. 5.00 Hs�� Average 8 22,105,726,24 1.214% 1.231% 1,633 1 0 Run Date: 07il 2/2004 - 15:05 13 8 Portfolio CITY AC PM IPRF—PM4) SymAepz V6.21 Report Ver. 5.00 Portfolio Management Page 4 Aefivity Summary June 2003 through June 2004 Yield to maturay Managed Number Number Month Number of Total 360 365 Po(A of Investments of Invesftents Average Average End Year Securities Invested Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity June 2003 1.509 1,529 1� 980 0 0 17 11 July 2003 8 20,920,950�24 1.339 1,358 1.770 1 0 14 7 August 2003 8 21,377,916,21 1�311 1,329 1.770 0 0 14 5 September 2003 8 21,502,647.06 1 �299 1.317 1370 1 1 14 4 October 2003 8 21,612,020.75 1.185 1,202 1�630 1 1 13 11 November 2003 8 20,675,513.99 1.239 1.256 1.630 0 14 9 December 2003 8 18,486,744,43 1.188 1.205 1.630 1 1 16 10 January 2004 a 24,505,234.71 1,126 1.141 1 �530 0 0 12 6 February 2004 8 25,233,805.42 1.093 1108 1-530 0 0 12 4 March 2004 8 24,182,796,48 1.141 1,156 1.530 1 1 12 4 April 2004 8 22,736,185,55 1,211 1,227 1.530 2 2 13 12 May 2004 8 24,749,985.76 1.077 1.092 1.474 0 0 12 9 June 2004 8 24,704,427� 13 1.062 1,077 1,450 0 0 12 8 Average 8 22,105,726,24 1.214% 1.231% 1,633 1 0 Run Date: 07il 2/2004 - 15:05 13 8 Portfolio CITY AC PM IPRF—PM4) SymAepz V6.21 Report Ver. 5.00 Run Date� 0711212004 - 15:05 Portfotio CITY AC PM (PRF�_PPAS) Syn -Rept V6.21 Report ver� 5.00 June J uly August September October November December January February March April May June Average Security Type 2003 2003 2003 200S 2003 2003 2003 2DO4 20G4 2004 2004 2004 2004 by Period Local Agency Investment Funds 71 �6 71,7 70.2 691 69�7 72�8 69.2 70.3 68,8 71.8 76.4 70.4 70,5 71.1% Certificates of Deposit - B ank 7-8 U 6,1 6A 6,0 6.3 7.0 6.3 5.2 5.4 ........................... 5.7 5.3 5�3 6. V% Certificates of Deposit - S & L Pass boorklChecking Accounts 20.6 22,1 23,8 24,2 24.3 P-0.9 23,7 23.9 26.1 22,8 17,9 24.4 . . ........................ 24.2 23.0% Corp orate Medium Term Note Commercial Paper - Interest Bearing Repurchase Agreements Federal Agency Issues - Coupon ..... ................... Treasury Securities - Coupon Mortgage Backed Securities Bankers.Acceptances -Amortizing . ....... ... . Commercial Paper Dis.c. -Amortizing Federal Agency Disc. -Amortizing Treasury Discounts -Arnonizing . ... ... ........... .. Miscellaneous Discounts -Amortizing Run Date� 0711212004 - 15:05 Portfotio CITY AC PM (PRF�_PPAS) Syn -Rept V6.21 Report ver� 5.00 ... . ... .. . ...... . City of Lodi ........ . ............. Portfolio Management Page 6 Interest Earnings Summary June 30, 2004 June 30 Month Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 271.78 16,27&56 Plus Accrued Interest at End of Period 2,080�60 2,080.60 Less Accrued Interest at Beginning of Period 1,245.71) 2,959.74) Less Accrued Interest at Purchase During Period 0,00) om) Interest Earned during Period 1,106.67 15,399.42 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0�00 0-00 Earnings during Periods 1,1136,67 15,399-42 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 O'N 0.00 Adjusted by Premiums and Discounts 0-00 0�00 Adjusted by Capital Gains or Losses UO 0.00 Earnings during Periods 0.00 0100 Cash/Checking Accounts: Interest Collected 0.00 229,494ZI Plus Accrued Interest at End of Period 69,605.14 69,605.14 Less Accrued Interest at Beginning of Period 48,511,14) 47,653-33) Interest Earned during Period 21,094.00 251,446.32 Total Interest Earned during Period 22,200.67 266,845.74 Total Adjustments from Premiums and Discounts 0.00 0.00 Total Capital Gains or Losses 0100 0100 Total Earnings during Period 22,200.67 266,845.74 Portfolio Crry AC Ruii Dale: OW1 2/2004 - 1 SM PM (PRF_PM6) SymRapt VS.21 Report Ver, 5.00 PHIL ANGELIDES TREASURER a jy_ � �, �, L, t J� Lt INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) March 31, 2004 Avera, -,e L-Ife of Portfolio as of March 3 1, 2004 is 159 Days 0 .5 Revised March 31,2004 PERCENTAGE CHANGEFROM TYPE OF SECURITY AMOUNT PERCENT PRIOR MONTH Government Bills $ 1,094,783 2.11 -0.11 Bonds 0 0 0 Notes 6,147,707 IL84 -0.77 Strips 0 0 0 Total Governments 7,242,490 13.95 -0.88 Federal Agency Coupons S 3,915,362 7.54 +0.29 Certificate of Deposits 7,935,044 15.29 +1.79 Bank Notes 808,635 1 �56 -0�13 Bankers' Acceptances 0 0 0 Repurchases 0 0 -0.18 Federal Agency Discount Notes 9,165,817 17.66 +0.33 Time Deposits 5,881,295 11.33 +0.49 GNMAs 492 0 0 Commerical Paper 8,016,691 15.45 -3,54 FHLMC 3,567 0.01 0 Corporate Bonds 1,791,202 3.46 +0.09 Pooled Loans 6,208,431 11.96 +0.90 GF Loans 928,500 1.79 +0.84 Reversed Repurchases 0 0 0 Total (All Types) 51,897,526 IWOO Avera, -,e L-Ife of Portfolio as of March 3 1, 2004 is 159 Days 0 .5 Revised March 31,2004 State of California !*,00led Money Investment Accou Market Valuation 03/31104 1 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 (1.000754626)� 11 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 $20,015,092.51 or $20,000,000,00 x 1.000754626 12 Revised March 31, 2004 M.S.M. United Stat� Treasurv: Bills Notes $ $ 1,09i,783,138.88 6,147,7 06,685.12 $ $ 1,097,506,732,29 6,147,706,685.12 $ $ 1,097,531,000.00 6,159,525,750.00 $ NA 75,275,049.50 . ..... .. .. Federal Ageag�__ SBA $ 523,368,506.43 $ 523,339,690.25 $ — 518,045,30171 $ 1,208,431-29 MBS $ 453,647,512.20 $ 453,547,512,20 $ 449,605,759,16 $ 2,060,367.82 Bonds $ 2,938,446,444.80 $ 2,938,446,444,80 $ 2,959,798,872.30 $ 31,703,535.24 Floaters $ - $ - $ - $ - Discount Notes $ 9,16�,816,591.54 $ 9,202,507,743-41 $ 9,204,298,561.30 NA FHLMC PC $ 3,566,661.59 $ 3,566,661,69 $ 3,901,259�99 $ 57,381.24 GNMA $ 492,350,06 492,350,06 $ 566,805.96 $ 4,869,69 Bankers Accept��nces $ - $ - $ - NA Bank Notes $ 808,635,419.39 $ 808,585,019M $ 808,619,864�32 $ 1,496,054,66 CDs $ 7,935,044,108.97 $ 7,935,044,1 M97 $ 7,935,314,634.75 $ 15,789,948,60 Commercial Paper $ 8,016,691,420.90 $ 8,029,748,324A9 $ 8,030,273,841A 1 NA Corporate: F . loaters $ 7L,992,220.34 $ 79,992,220.34 $ 80,004,500.00 $ 38,125.0� Bonds $ 1,711,208,851-63 $ 1,711,208,851.63 $ 1,723,408,938.24 $ 27,034,267.50 Repurchase ��me�nts $ $ $ NA B2Y�L�� $ $ $ $ Time Deeosits $ 5,881,295,000.00 $ 5,881,295,000,00 $ 5,881,295,000.00 NA AB 55 & GF Loans $ 7,136,931,35M4 $ 7,136,931,359�54 $ 7,136,931,359,54 NA �T—O—TAL -51,897,526,V1,49 $ 51,949,918,704M $ 51,989,121,450,38 $ 154,668,030.54 Fair Value Including Accrued Interest $ 52,143�789,480.92 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 (1.000754626)� 11 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 $20,015,092.51 or $20,000,000,00 x 1.000754626 12 Revised March 31, 2004