HomeMy WebLinkAbout04 QUARTERLY INV RPT 04-17-00AGENDA
DATE'
April 17, 2000
inter-Com
NO. 4
4-17-00
TO:
FROM'
SUBJECT:
Honorable Mayor and Members of the City Council
G. W. Jeffries, CCMT, City Treasurer
QUARTERLY INVESTMENT REPORT
RECOMMENDATION'
Receive and file.
DISCUSSION'
In compliance with Government Code Section 53646, the attached Investment Report for the
quarter ending March 31, 2000 is rendered.
d. W. Je/fff~/s,
Treas~r/
GWJ:ts
Attachment
GWJ:OuarterlylnvestmentReportMarch2OOO.doc
CITY OF TUSTIN INVESTMENT REPORT
32%
CITY OF TUSTIN INVESTMENT REPORT
QUARTER ENDING MARCH 3t ,2000
Other Investments Bankers AcCeptances
4% 3%
36%
Cash
2%
Cash with Fiscal Agents
23%
RDA INVESTMENT REPORT
QUARTER ENDING MARCH 3t,2000
Federal Agencies__
40%
Cash with Fiscal
7%
Bankers Acceptances.__/
LAIF
48%
CITY OF TUSTIN INVESTMENT REPORT
SUMMARY
QUARTER ENDING
MARCH 31,2000
(Unaudited)
PAR VALUE
$0
$0
$0
$2,000,000
$2,500,000
$24.200,000
$0
N/A
N/A
N/A
DESCRIPTION
CITY OF TUSTIN:
Time Deposits
Negotiable Certificates of Deposit
Commercial Paper
Bankers Acceptances
Other Investments
Federal Agencies
U. S. Treasuries
Cash
Cash with Fiscal Agents *
Local Agency Investment Fund
Maximum
Maturity
5 yrs
5 yrs
90 days
180 days
5yrs
5 yrs
5 yrs
N/A
N/A
N/A
Allowable
Portion of
Portfolio
Odginal Current Current
Purchase Book Market Current
Total Value Value Concentration
No Limit $0 $0 $0 0.00%
10% $0 $0 $0 0.00%
25% $0 $0 $0 0.00%
25% $1,835,157 $1,835,157 $1,958,317 2.74%
No Limit $2,650,900 $2,650,900 $2,533,213 3.95%
50% 23,845,188 $23,845,188 $23.943,082 35.57%
No Limit $0 $0 $0 0.00%
N/A $1,491,676 $1,491,676 $1,491,676 2.23%
N/A $15,594,362 $15,594,362 $15.594,362 23.26%
N/A $21,619,841 $21,619,841 $21,829,553 32.25%
$67,037,124 $67,037,124 $67,350,203 100.00%
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days): 184.03
Weighted Average Portfolio Yield: 6.04%
Current 6 mos.Treasury: 6.20%
$0
$0
$0
$1,200,OO0
$0
$0
12.000,000
$0
N/A
N/A
N/A
TUSTIN REDEVELOPMENT AGENCY:
Time Deposits 5 yrs No Limit $0 $0 $0 0.00%
Negotiable Certificates of Deposit 5 yrs 10% $0 $0 $0 0.00%
·
Commercial Paper 90 days 25% $0 $0 $0 0.00%
Bankers Acceptances 180 days 25% $1,169,548 $1,169,548 $1,173,555 4.73%
Corporate Notes 5 yrs 10% $0 $0 $0 0.00%
Other Investments 5 yrs No Limit $0 $0 $0 0.00%
Federal Agencies 5 yrs 50% $7,934,236 $9,847,432 $11,876,561 39.86%
U. S. Treasuries 5 yrs No Limit $0 $0 $0 0.00%
Cash N/A N/A $0 $0 $0 0.00%
Cash with Fiscal Agents * N/A N/A $1,678,290 $1,678,290 $1,678,290 6.79%
Local Agency Investment Fund N/A N/A $12,006,994 $12,006,994 $12,123,462 48.61%
$22,789,068 $24,702,264 $26,851,868 100.00%
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days): 106.49
Weighted Average Portfolio Yield: 6.69%
Current 90 da), Treasury Bill: 5.90%
TOTAL CITY/RDA INVESTMENTS:
$91,739,388 $94,202,071
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.
Total City funds available for effective active management are: $74,466,736
CITY OF TUSTIN INVESTMENT REPORT
(1)
PAR VALUE
DESCRIPTION-LIMITS
I 0401-Time Deposits-No Limit
I 0401-Neg. Certificate of Deposit-10%,Max 5 yrs
0407-Commercial Paper-25%, Max 90 Days
0403-Bankers Acceptances-25%, Max 180Days
S2,000,000 B of A Bankers Acceptance
$2,000,000
S2,000,000
S2,000,000
$2,200,000
$2,000,000
$2,000,000
$2,000,000
$2.000,000
$2,000,000
S2,000,000
$2,000,000
$2,000,000
$2.000,000
S24,200,000
J 0405-Federal A~=encles-50% J
FNMA Discount Notes
FHLMC Discount Notes
FFCB Discount Notes
FHLMC Discount Notes
FHLMC Discount Notes
SLMA
FHLB
SLMA
FHLB Discount Notes
FHLB
FHLMC
FHLMC
J 0407-Other Investments J
$2,500,000 State Of California GO Bonds
$2,500,000
J 0409-US Treasury Bills~Bonds/Notes-No Limit. j
I DailT-No Limit I
Cash-1001 (Includes Overnight Sweep)
Deposits with Fiscal Agents-'93 Water COP's *
Deposits with Fiscal Agents-Assess. Dist.*
Deposits with Fiscal Agents-Co.Wide Fin Auth.*
Cash with TCA Trustee'
Local Agency Investment Fund-1102 *
· March balances were not available
at the time this report was prepared.
Balances reflected are as of February.
INVESTMENT SCHEDULE AS OF:
MARCH 31,2000
UNAUDITED
YIELD
TO PURCHASE
COUPON ATURIT DATE
I
6.00% 6.22%
MATURITY
DATE
Current Totals:
Current Totals:
Current Totals:
(3) (4) (5)
ORIGINAL CURRENT CURRENT
PURCHASE BOOK MARKET
PRICE VALUE VALUE
$o I so !
(9)
so I so ! so
$o I $o i so
03/16/00 07/31/00 $1,835,157 $1,835,157 S 1. 958.317
N/A
N/A
5.00%
N/A
N/A
5.00%
6.05%
5.70%
5.38%
6.38%
6.50%
5.39%
Current Totals: $1,835,157 $1,835,157 $1.958,317
I 2.74% J
5.80% 10/27/99 04/17/00 $1,946,466 $1,946,466 $1,994,418
5.43% 07/22/99 04/20/00 $2,194,500 $2,194,500 $1,993,433
5.21% 03/11/99 05/24/00 $1,921,437 $1,921,437 $2,195,380
5.48% 07/22/99 06/15/00 $1,904,956 $1,904,956 $1,974,751
5.51% 07/22/99 07/17/00 $1,895,511 $1,895,511 Sl,963,700
5.17% 03/11/99 08/11/00 $1,995,313 $1,995,313 $1,989,000
6.10% 11/03/99 11/03/00 $1,999,044 $1,999,044 Sl ,997,600
6.11% 10/27/99 11/30/00 $2,008,398 $2,008,398 Sl.986,600
5.28% 03/11/99 03/02/01 $2,003,672 $2,003,672 $1.976,600
6.52% 03/16/00 03/13/'01 $1,997,140 $1,997,140 $1,994,600
6.86% 03/16/00 12/27/01 $1,987,813 $1,987,813 $1,983,400
5.49% 11/05/98 11/05/03 $1,990,938 $1,990,938 $1.893.600
8.15% 5.45% 03/30/99
Current Totals:
$23,845,188 $23,845.188 $23,943,082
I 35.57% I
09/01/01 $2,650,900 $2,650,900 $2.533,213
4.50% '
N/A (8)
N/A (i0)
N/A (10)
4.50% (7)
5.82% (11)
Current Totals: $2,650,900 $2,650.900 $2.533,213
J 3.95% J
(9)
TOTAL CITY INVESTMENTS
Current Totals: $0 $0 S0
J 0.00% J
Current Total:
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days): 184.03
Weighted Average Portfolio Yield: 6.04%
Current 6 mos.Treasur~: 6.20%
$1,491,676
$1,052,517
$11,316,255
$1,538,116
$1,687,474
$21,619,841
$1.491,676
$1.052.517
$11,316,255
Sl,538,116
$1.687,474
$21.829,553
$38,705,879
57.74%
$67.037,124
S38.915,591
i
$67,350.203
REDE VEL OPMENT A GENC Y IN VES TMEN T REPORT
(1)
PAR VALUE
(2)
DESCRIPTION-LIMITS
0401-Time Deposits-No Limit
0401-Ne~1. Certificate of Deposit-10%,Max 5 ~s
I ¢4Q7-ggmmercial Paoer-25%. Max 90 Days
I J 0403-Bankers Acceptances-25%, Max 180Days I I
$1,200,000 B of A Bankers Acceptance 6.05%
$1,200,000
(6)
04o7-Corporate Notes-10% ~
0407-Other Investments
INVESTMENT SCHEDULE AS OF:
MARCH 31,2000
UNAUDITED
f3)( (4) (5)
YIELD ORIGINAL CURRENT CURRENT
TO PURCHASE MATURITY PURCHASE BOOK MARKET
COUPON ATURIT DATE DATE AMOUNT VALUE VALUE
Cun'ent Total:
r9I
Current Total: I $0
Current Total: I $0
6.21% 03/16/OO 03/14/00 $1,169,548
$1,169,548
Current Total:
$1,169,548
Current Total:
$1.173,555
$1,169.548 $1,173,555
I 4.73% I
(9)
0.00%
(9)
J 0409-Federal A~encies-50% J
$2,000,000 FNMA Discount Notes N/A 5.80% 10/27/99 04/17/00
$1,000,000 FMC Discount Notes N/A 5.43% 07/22/99 04/20100
$1,000,000 FMC Discount Notes N/A 5.48% 07/22/99 06/15/00
$1,000,000 FMC Discount Notes N/A 5.51% 07/22/99 07/17/00
$1,000,000 SLMA 5.00% 5.17% 03/11/99 08/11/00
$2,000,000 FHLB 6.05% 6.10% 03/11/99 11/03/00
$1,0OO,000 FHLB 5.38% 52.8% 03/11/99 03/02/01
$1,000,000 FHLB Debentures 6.38% 6.53% 03/16/00 03/13/01
$1,000,000 FHLMC 6.50% 6.88% 03/16/00 12/27/01
$1,000,000 FHLMC 5.39% 5.49% 11/05/98 11/05/03
$12,000,000
J J 0409-US Treasur~ Bills/Bonds/Notes-No Limit J j
J Daily-No Limit J
Cash-1001 (Includes Ovemight Sweep) 4.50%
Deposits w/Fiscal Agent-Tax Allocation Bds° N/A
Local Agency Investment Fund-1102' 5.82%
*March balances were not available
at the time this report was prepared.
Balances reflected are as of Februa~.
Current Total:
S1,946,466
S960,718
$952,478
S947,755
S997,656
$1,999,044
S1,001,836
S998,570
$993,906
$995,469
0.00%
(9)
(8)
(lO)
(11)
TOTAL RDA INVESTMENTS
$1,946,466
$960,718
$952,478
$947,755
$997,656
$1.999,044
$1,001,836
$998,570
$993,906
$995,469
Current Total: $9.847.432
J 39.86%
(9)
Current Total: $0
Current Total:
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days): 106.49
Weighted Average Portfolio Yield: 6.69%
Current 90 da), Treasury: 5.90%
J 0.00% J
$0
$1,994,418
$996,717
$987,376
$981,850
$994,5OO
$1,997,600
$988,300
$997,3OO
$991,700
$946,800
$11,876,561
$0 $0
$1,678,290 $1,678,290
$12,006,994 $12,123,462
$13.685,284 $13,801,752
55.40% J
$24,702.264 $26,851,868
TOTAL CITY/RDA INVESTMENTS: $91,739.388 $94,202,071
FOOTNOTES:
~1) PAR VALUE is the full value of the security before any discount or premium is paid at purchase.
(2) DESCRIPTION-LIMITS reflects the venous authorized investments as documented in the most current adopted
investment polcy and the allowable percentage of total portfolio per investment type.
(3) Original Purchase Price is the amount paid for a securities less any discount plus any premium.
,~4) Current BOok Value is original cost of s~...cuities less receipt of principal payments, net of amortized premiums/discounts.
(5) Current Market Value is the price at whi~ similar securities are currently trading. Current market values are provided by
Bank of Amedca and Bank of New York on all securities held in safekeeping for the City and RDA. Differences in
value are booked only if, the securities are sold pdor to their maturities.
(6) In compliance with Section II, paragraph f. of the City's Investment Policy, Corporate Notes must have a Moody's/Standard
and Poors's long term debt rating of at least AA.
(7) Securities held in Trust per Funding Agreement between the City of Tustin and the Foothill/Eastern
Transportation Corridor Agency adopted by the City Council on 6-5-95.
(8) Earnings allowance on compensating bank balances to offset bank activity charges. Allowance is included in the
Average Yield calculation. The cash balances include amounts "swept' from account for overnight investments.
(9) Current percentage by investment type to be measured against allowable limits in current investment policy at time of
purchase. Maximum ratio limits calculated using current book values and may change over time as total portfolio changes.
(10) 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.
(11) The carrying amount of the pool as of February 29,1999 was $34,808,483,264 and the estimated market value
(inc. Juding accrued interest) was $35,149,488,926. The City and Agency's proportionate share of that value is $33,953,015.
CERTIFICATION:
I certify that this report reflects all City and RDA pooled investments. The investments represented in this report are in
conformity with the current adopted investment policy of the City of Tustin. The market values represented in this report are
provided by Trustees currently holding securities for the City and Agency.
The investment program herein shown provides sufficent cash flow,,I/i~uidity to meet the next six (6) months estimated
expenditures. / /
This statement is prepared in conformance with Sectic/'n ~3646 of the Government Code.
/~/ G.~' s,~l~.Treasurer