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Home My WebLink About11 INVESTMENT RPT 10-18-99DATE: October 18, 1999 NO. 11 10-18-99 Inter-Com 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 September 30, 1999 is rendered. ~N Jeffries, CCI~IT ' ea~urer . GWJ:ts - Attachment GWJ:QuarteriylnvestmentRei3oc, September 1999.ooc CITY OF TUSTIN INVESTMENT REPORT QUARTER ENDING SEPTEMBER 30,1999 LAIF 28.7% Other Investments Bankers Acceptances 0.0% 3.9% Treasury Bills/Notes 2.9% Federal Agencies 17.6% Cash 1.4% Deferred Compensation 17.8% Cash with Fiscal Agents 27.7% RDA INVESTMENT REPORT QUARTER ENDING SEPTEMBER 30, 1999 Federal Agencies 22.2% Cash with Fiscal Agents 4.9% Corporate Notes 0.0% Cash 0.3% LAIF 72.5% TUS TIM I~I~MS TI~M~I T ~dM~R T I DESCRIPTION SUMMARY QUARTER ENDING SEPTEMBER 30,1999 (Unaudited) Allowable Original Maximum Portion of Purchase Maturity Portfolio Total Current Current Book Market Value Value Current Concentration CITY OFTUSTiN: Time Deposits Negotiable Certificates of Deposit Commercial Paper Bankers Acceptances Other Investments Federal Agencies U. S. Treasuries Cash Deferred Compensation * Cash with Fiscal Agents * Local Agency Investment Fund 5 yrs No Umit $0 5 yrs 10% $0 90 days 25% $0 180 days 25% $0 5 yrs No Umit $2,650,900 5 yrs 50% 12,062,899 5 yrs No Umit $1,997,960 N/A N/A $929,347 N/A N/A $12,205,258 N/A N/A $18,977,269 N/A N/A $19,629,892 $0 $0 SO SO SO $0 $0 SO $2,650,900 $2,588,118 $12,062,899 $12,012,185 $1,997,960 $2,008,120 $929,347 $929,347 $12,205,258 $12,205,258 $18,977,269 $18,977,269 $19,629,892 $19,823,384 $68,453,525 $68,453,525 $68,543,681 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ufe (Days): Weighted Average Portfolio Yield: Current 6 mes.Treasu~ 183.98 5.24% 4.95% TUSTIN REDEVELOPMENTAGENCY: Time Deposits Negotiable Certificates of Deposit Commercial Paper Bankers Acceptances Corporate Notes Other Investments Federal Agencies U. S. Treasuries Cash Cash with Fiscal Agents * Local Agency Investment Fund 5 yrs No Umit S0 $0 $0 5yrs 10% SO $0 SO 90 days 25% $0 $0 $0 180 days 25% $0 $0 $0 5 yrs 10% $0 $0 $0 5 yrs No Umit $0 $0 $0 5 yrs 50% $4,948,851 $4,948,851 $4,929,961 5 yTS NO Umit $0 $0 $0 N/A N/A S73,491 $73,491 $73,491 N/A N/A $1,101,111 $1,101,111 $1,101,111 N/A N/A $16,125,439 $16,125,439 $16,284,387 $22,248,892 $22,248,892 $22,388,950 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ufe (Days): :. . 103.64 Weighted Average Portfolio Yield: 5.34% Current 90 day Treasury Bill: 4.80% TOTAL CITY/RDA INVESTMI~NTS: S90,702,417 $90,932,631 * Deferred Compensation and Cash with Rscal Agents are non-discretionary funds nominally managed by the Treasurer. Deferred Compensation is the pre-tax deferral of employees' salary within the restrictions of IRS Code 457. The deferrals are self-directed by the employees and are recorded as a liability of the City. Cash with F-~cal Agents is the reserve funds and constructio~ funds held by Trustees for yarious 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: $58,418,779 0.00% 0.00% 0.00% 0.00% 3.87% 17.62% 2.92% 1.36% 17.83% 27.72% 28.68% 100.00% 0.00% 0.00% 0.00% 0.0O% 0.00% 0.OO% 22.24% 0.00% 0.33% 4.95% 72.48% 100.00% (1) DESCRIPTION-UMITS INVESTMENT SCHEDULE AS OF: SEPTEMBER 30,1999 UNAUDITED (2) (3) (4) YIELD ORIGINAL CURRENT CURRENT TO PURCHASE MATURITY PURCHASE BOOK MARKET MATURITY DATE DATE PRICE VALUE VALUE 0401-Time Deposits-No Umit 0401-Neg, CertificateofDeposit-lO%,Max5yrs J 0407-Commercial Paper-25%, Max 90 Days J 0403-Bankers Acceptances-25%, Max 180Days ! J 0405-Federal Agencies*50% J FHLB Discount Notes FFCB Discount Notes FFCB Discount Notes SLMA FHLB Discount Notes FHLMC 0407-Other Investments State Of California GO Bonds CurrentTotah I_ $0 I $0 current Total: I SOJ $0 current Total: I SOi' SO Current Totah I 0'00%l (8) $0 4.79% 01/15/99 07/14/99 $1,953,890 $1,953,890 $1,964,000 4.74% 01/15/99 11/10/99 $1,924,586 $1,924,586 $1,932,200 5.21% 03/11/99 05/24/00 $2,194,500 $2,194,500 $2,194,500 5.17% 03/11/99 08/11/00 $1,995,313 $1,995,313 $1,995,313 5.28% 03/11/99 03/02/01 $2,003,672 $2,003,672 $2,003,672 5.49% 11/05/98 11/05/03 $1,990,938 $1,990,938 $1,922,500 Current Totah S12,062,899 $12,012,185 I 17-62%i (8) 5.45% 03/30~99 09/01/01 S2,650,900 $2,650,900 $2,588,118 0409-US Treasury Bills/Bonds/Notes-No Umit ! Treasury Note Daily-No Umit ! Cash-0101 Oefen, ed Compensation Deposits with Fiscal Agents-'93 Water COP's Deposits with Rscal Agents-Assess. Dist. Deposits with Fiscal Agents-Co.W~de Fin Auth. Cash with TCA Trustee Local Agency Investment Fund-0402 * September balances were not available at the time this report was prepared. Balances reflected are as of August. Current Totah I 3'87%1 (8) $2,650,900 $2,588,118 5.92% 07/31/97 07/31/99 ; $1,997,960 $1,997,960 $2,008,120 Current Totah $1,997,960 $2,008,120 I 2'92%! (8) 3.60% (7) $929,347 $929,347 N/A (9)* $12,205,258 $12,205,258 N/A (10)* $1,157,428 S1,157,428 N/A (10)* $11,470,515 $11,470,515 N/A (10)* $2,482,995 $2,482,995 3.60% (6)* $3,866,331 $3,866,331 5.09% (11)* $19,629,892 $19,823,384 TOTAL CITY INVESTME~ Current Totah $51,741,766 $51,935,258 I 75.59%! 4.95'/,I PERFORMANCE MEASUREMENT: IWeig~ted Average Portfolio Ufe (Days): Iweig~ted Average Portfolio Y~eld: ICurrent 6 mos.Treasury: $68,453,525 $68,543,681 (1) DESCRIP110N-UMrrs INVESTMENT SCHEDULE AS OF: SEPTEMBER 30,1999 UNAUDITED (2) (3) YIELD ORIGINAL CURRENT TO PURCHASE MATURrTY PURCHASE BOOK MATURITY DATE DATE AMOUNT VALUE (4) CURRENT MARKET VALUE 0401-7ime Deposits-No Umit 0401-Neg. Certificate of Deposit. lO%,Max 5 yrs ! I 0407-Commercial Paper-25%, Max 90 Days I 0403-BankersAcceptances-25%, Max 180Days J (6) I 0407-Corporate Notes-lO% J (5) I 0407-Other Investments Current Torah [ SOl Current Totah ! Current Totah I $oJ Cun'entTotah I $01 · Current TOtal:I O.O0%J (8) I 040g-Federal Agencies-50% ] FHLB Discount Notes SLM~ FHI. B FHLMC I 0409-US Treasury Bills/Bonds/Notes-No Umit I Daily-No Umit ] RDA Cash-O 102 Deposits w/Fiscal Agent-Tax Allocation Bds Local Agency Investment Fund-0402 * September balances were not available at the Ume this report was prepared. Balances reflected are as of August. Current Total: $0 $0 O.O0%J (8) 4.79% 01/15/99 07/14/99 $1,953,890 $1,953,890 5.17% 03/11/99 08/11/00 S997,656 $997,656 5.28% 03/11/99 03/02/01 $1,001,836 $1,001,836 5.49% 11/05/98 11/05/03 $995,469 $995,469 $1,964,000 $997,656 $1,001,836 $966,469 3.60% (7) N/A (10)* 5.09% (11)* TOTAL RDA INVESTMENTS PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ute (Oay~): Weighted Average Portfolio Yield: Current 90 day Treasury: Current Totah $4,948,851 $4,929,961 I 22'24%1- (8) . Current Total: $0 ' I °'°°%! , (8) $0 $73,491 $73,491 $1,101,111 $1,101,111 $16,125,439 $16,284,387 Current Totah $17,300,041 $17,458,989 I 77'76%1 $22,248,892 $22,388,950 103.64 5.34% 4.80% TOTAL CrTY/RDA INVESTIVIENTS: $90,702,417 $90,932,631 FOOTNOTES: (1.) DESCRIPTION-UMITS reflects the various authorized investments as documented in the most current adopted investment polcy and the allowable percentage of total portfolio per investment type. (2) OdC]nal Purchase Price is the amount paid for a securities less any discount plus any premium. (3) Current Book Value is ori~nal cost of secuities less receipt of principal payments, net of amortized premiums/discounts. (2) 0ri¢]nal Purchase Price is the amount paid for a securities less any discount plus any premium. (3) Current Book Value is original cost of secuities less receipt of principal payments, net of amortized premiums/discounts. (4) Current Market Value is the price at which securities are currently tradin¢. Current market values are provided by Bank of America and Bank of NewYork on all securities held in safekeeping for the City and RDA. Differences in value are booked only if the securities are sold prior to their maturities. (5) 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. (6) Securities held in Trust per FundingA¢reement between the City of Tustin and the Foothill/Eastern Transportation Corridor ACency adopted by the City Council on 6-5-95. (7) EarninCs 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 overni~t investments. (8) Current percentage by investment type to be measured aCainst allowable limits in current investment policy at time of purchase. MaxJmum ratio limits calculated using current book values and may change over time as total portfolio changes. (9) IRS code Section 457 employee deferrals held by the City for future benefit of employees. (1.0) Investments and earninCs on monies held by fiscal agents generally are limited as to type and yield by the bond documents or current IRS codes. ( 1. !) The carrying amount of the pool as of September 30,1.999 was $32,968,1.59,573 and the estimated market value (including accrued interest) was $33,293,1.26,738. The City and A~ency's proportionate share of that value is $36,107,771.. CERTIRCATION: 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 liquidity to meet the next six (6) months estimated expenditures. - This statement is prepared in conformance with Se~n 53646 of the Government Code. G. W.'~'fries, CCM1',Treasurer