The URL can be used to link to this page

Home My WebLink AboutSA 02 QUARTERLY INVESTMENT REPORTAgenda Item SA2 Reviewed. IN AGENDA REPORT City Manager Finance Director MEETING DATE: August 7, 2012 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: G. W. JEFFRIES, CITY TREASURER SUBJECT: QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT SUMMARY: Government Code Section 53646 requires that the Treasurer make an Investment Report to the City Council at least quarterly showing balances by authorized investment and certifying its compliance with the adopted Investment Policy. RECOMMENDATION: Receive and file. DISCUSSION: In compliance with Government Code Section 53646, the attached Investment Report reporting cash and investments for the City of Tustin and the Successor Agency for the Tustin Community Redevelopment for the quarter ending June 30, 2012 is rendered. G. W. Jeffries Treasurer Attachment: June 30, 2012 Quarterly Investment Report CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT INVESTMENT SCHEDULE AS OF JUNE 30. 2012 11) DESCRIPTION- LIMITS CUSIP (2) PAR VALUE COUPON/ Dollar Price YIELD TO MATURITY (3) RATING PURCHASE DATE MATURITY DATE (4) ORIGINAL BOOK PRICE (5) CURRENT BOOK VALUE (6) CURRENT MARKET VALUE US TREASURY BILLS/NOTES -No Limit: U.S. Treasury Bill 9127955 %5 $25,000,000 $100 0.05% AAA OV20112 07119112 $24,996,875 $24,996,875 $24,999,525 U S. Treasury Note 912828PM $5,000,000 $100 0.38% AAA 11/01/10 10/31112 $5,001,344 $5,001,344 $5,006,055 U S. Treasury Note 912828MN7 $2.000,000 $101 138% AAA 02/16110 02/15/13 $1,999,707 $1,999,707 $2,020,078 U.S. Treasury Note 912828PU8 $3.000,000 $99 050% AAA 01131/10 11/15/13 $3.002,588 $3,002,588 $3.009,024 U.S. Treasury Note 912828RG7 $5000000 $99 025% AAA 9122111 09114114 $4985397 $4985397 $4989060 40,000,000 39,985,911 39,985,911 40,023,742 FEDERAL AGENCIES - 50% Limit: Federal Home Loan 313379EF2 $5,000,000 $99 0.40% AAA 05122112 05122114 $4,998,050 $4,998,050 54,995,745 Federal Farm Credit 3133EAOL5 $5,000,000 $100 0.54% AAA OS/1]l12 05/15/15 54995000 $4995000 $5001875 $10,000,000 $9,993,050 $9.993.050 $9,997,620 MONEY MARKET - No Limit: Bank Tokyo- MIT UFJNY Yankee CD 06538ESR9 $5,000,000 $100 0.38% Al -P1 OM16112 07125112 $5000498 $5000498 $5000685 $5,000,000 Current Totals. $5,000,498 $5,000,498 $5,000,685 CORPORATE BONDS- 10% Limit: Barclays Bank PLC Domestic Sr. Unsecured 06738KL90 $5,000,000 $99.28 200% Aa3 OW15112 08115114 $5000000 $5000000 $4953425 $5,000,000 Current Totals: $5,000,000 $5,000,000 54,953,425 DAILY -No Limit: General Checking Account Ending Balance Net of Outstanding Checks 0.00% N/A (7) $22.315,694 $22.315,694 Overland Pacific Rental Account 0.00% NIA 27,028 $27.028 Deposits In Orange Co Investment Pool 054% (8) 368,717 368,717 Deposits in JP Morgan Pnme Money Market Fund 0.17% AAA. 16,061,541 $16,061,541 Local Agency Investment Fund 0.36% NIA 49,705,866 $49,705,866 Current Daily -No Limit Total: $88,478,846 $88,478,846 Total: $148,458,305 $14$454,318 CITY OF TUSTIN CASH AND INVESTMENTS Unrestricted General Fund cash balance as of (1130112 (unaudited) $20,838,595 Semi - restricted Capital Projects Fund cash balance as of 6130112 (unaudited) 8,735,119 Restncled Cash balances as of 6/30112 (Water, Special Revenue Funds, Community Facility Distric6 unaudited) 49,778,874 CITY OF TUSTIN CASH AND INVESTMENTS TOTAL. $79,352,588 SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY DEVELOPMENT CASH AND INVESTMENT TOTAL* $69,105,717 Restricted Deposits with Fiscal Agents: (9) 2003 Water refunding Bonds N/A $ 10,864,490 $ 10,866,490 1998 RDA Tab Allocation Refunding Bonds N/A 1,700,269 1,700,269 2010 RDA Housing Tax Allocation Bonds N/A 2,827,572 2,827,572 2010 RDA Tax Allocation Bonds N/A 1,872,546 1,872,544 2011 Water Revenue Bonds NIA 1782684 1782684 CFD 04 -1 NIA 3,081,295 3,081,295 CFD 06 -1 NIA 42,533,299 42,533,299 CFD 07.1 NIA 2,209,170 2,209,170 Total Restricted Deposits with Fiscal Agents: $66,871,323 $66,871,323 PERFORMANCE MEASUREMENT: Average Days to Maturity: 138.41 Weighted Average Portfolio Yield: 0.38% Current 6 mo Treasury Equivalent: 0 13% CITY OF TUSTIN and THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT INVESTMENT SUMMARY JUNE 30, 2012 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 138.41 Weighted Average Portfolio Yield: 0 38% Current 6 mo Treasury Equivalent: 013% Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RDA bond issues. Investment options are limited to those specifically permitted by bond documents. Allowable Original Current Current Maximum Portion of Purchase Book Market Current DESCRIPTION PAR VALUE Maturity Porfoho Total Value Value Concentration U. S. Treasuries $40,000,000 5 yrs No Limit $39,985,911 $39,985,911 540,023,742 18.57% Federal Agencies $10,000,000 Syrs 50% $9,993,050 $9,993,050 $9,997,620 4"A Corporate Bonds $5,000,000 5 yrs 10% $5,000,000 $5,000,000 $4,953,42S 2.32% Money Market $5,000,000 S yrs 50% $5,000,498 $5,000,498 $5,000,685 2.32% Cash N/A N/A N/A 22,342,722 22,342,722 22,342,722 1038% Restricted Cash with Fiscal Agents • NIA N/A N/A 66,871,323 66,871,323 66,871,323 31 06% Deposits in JP Morgan US Govl Money Market Fund NIA NIA N/A 16,061,541 16,061,541 16,061,541 7.46% Deposits in Orange County Commingled Pool NIA NIA N/A 368,717 368,717 368,717 0.17% Local Agency Investment Fund NIA NIA NIA 49,705,866 49,705,866 49,705,866 23.08% $215,329,627 $215,329,628 $215,325,641 100.00% PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 138.41 Weighted Average Portfolio Yield: 0 38% Current 6 mo Treasury Equivalent: 013% Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RDA bond issues. Investment options are limited to those specifically permitted by bond documents. FOOTNOTES: (1) DESCRIPTION - LIMITS reflects the various..m.n.ed investments as documented in the most curenl adopted investment policy and the allowable percentage of total portfolio per investment type. (2) PAR VALUE is the full value of the security before any discount or premium is paid at purchase. (3) Highest ratings from Standards & Poom or Moodys. (a) Original Purchase Price is the amount paid for securities less any discount plus any premium. (5) Current Book Value is original cost of secumies less receiptof pnncipal payments, net of amortized premiumsldiscounts. (6) Current Markel Value is the price at which similar securities are currently trading. Current market values are provided by Bank of America and the Stale Treasurer's Office on all securities or deposits held in safekeeping for the City and the Successor Agency for the Tustin Community Redevelopment Market value differences are only booked at year end. (1) Earnings allowance on compensating bank balances to offset bank activity charges. Allowance is included In me Average yield calculation. The cash balances include amounts "swept" from account for overnight Investments. (6) Orange County Treasury Money Market Fund rating is AAAm. Orange County Treasury Extended Fund is not rated by sponsor's choice. (9) Investments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond documents or current IRS codes CERTIFICATION: I certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Community Redevlopment (SATCR) pooled investments. Excluding the Bank of America corporate notes, the investments represented in this report are in conform ity with the current adopted investment policy of the City of Tustin. The market values represented in this report are provided by Custodians and Trustees currently holding securities for the City of Tustin and SATCR. The investment program herein shown provides sufficient cash flow liquidity to meet the next six (6) months estimated expenditures This statement is prepared in conformance with Section 53W of the Govemment Code.A / Signed: G. W.