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Home My WebLink About15 QUARTERLY INV RPT 07-19-99DATE' July 19, 1999 NO. 15 7-19-99 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 June 30, 1999 is rendered. // G.~./~/effries, CCMT T~urer GWJ:ts Attachment GWJ:Quartedylnv~tmentReport99.June.doc CITY OF TUSTIN INVESTMENT REPORT QUARTER ENDING JUNE 30~1999 LAIF 34.6% Bankers Acceptances Other Investments 0.0% 3.6% Treasury Bills/Notes 2.7% Federal Agencies 16.3% Cash 0.7% Deferred Compensation 16.5% Cash with Fiscal Agents 25.6% RDA INVESTMENT REPORT QUARTER ENDING JUNE 30~ 1999 Federal Agencies 22.0% Cash with Fiscal Agents 4.9% Corporate Notes 0.0% Cash 0.3% LAIF 72.7% DESCRIPTION SUMMARY QUARTER ENDING JUNE30,1999 (Unaudited) Allowable Maximum Portion of Maturity Portfolio Original Current Current Purchase Book Market Total Value Value Current Concentration CI1Y OF TUSTIN: l~me Deposits Negotiable Certificates of Deposit Commercial Paper Bankers Acceptances Other investments Federal Agencies U. S. Treasuries Cash Deferred Compensation * Cash with Rscal Agents * Local Agency Investment Fund TUSTIN REDEVELOPMENT AGENCY: Time Deposits Negotiable Certificates of Deposit Commercial Paper Bankers Acceptances Corporate Notes Other Investments Federal Agencies U. S. Treasuries Cash Cash with Rscal Agents * Local Agency Investment Fund 5 yrs No Umit 5 yrs 10% 90 days 25% 180 days 25% 5 yrs No Umit 5yrs 50% 5 yrs No Umit N/A N/A N/A N/A N/A N/A N/A N/A So So So SO SO SO So SO So So $o SO $2,650,900 $2,650,900 $2,603,370 12,062,899 $12,062,899 $12,022,185 $1,997,960 $1,997,960 $2,008,120 $510,595 $510,595 $510,595 $12,205,258 $12,205,258 $12,205,258 $18,977,269 $18,977,269 $18,977,269 $25,636,459 $25,636,459 $28,607,178 $74,041,340 $74,041,340 $76,933,975 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ufe (Days): Weighted Average Portfolio Yield: Current 6 mos.Treasury: ~ 196.00 5.27% 4.80% 5 yrs No Umit $0 $0 $0 5yrs 10% $0 $0 $0 90 days 25% $0 $0 $0 180 days 25% $0 $0 $0 5yrs lO% SO SO So 5 yrs No Umit $0 $0 $0 5 yrs 50% $4,948,851 $4,948,851 $4,929,961 5 yrs No Umit $0 $0 $0 N/A N/A $73,122 $73,122 $73,122 N/A N/A $1,101,111 $1,101,111 $1,101,111 N/A N/A $16,323,257 $16,323,257 $17,855,286 $22,446,34! $22,446,341 $23,959,480 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ufe (Days): 99.29 Weighted Average Portfolio Yield: 5.34% Current 90 day Treasury Bill: 4.75% 0.00% 0.00% 0.00% 0.00% 3.58% 16.29% 2.70% 0.69% 16.48% 25.63% 34.62% 100.00% 0.00% 0.00% 0.00% 0.00% 0.0O% 0.00% 22.05% 0.00% 0.33% 4.91% 72.72% 100.00% TOTAL crlY/RDA INVESTMENTS: $96,487,681 $100,893,455 * 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 Rscal Agents is the reserve funds 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: $64,204,043 (1) DESCRIPTION-UM{TS INVESTMENT SCHEDULE AS OF: JUNE30,1999 UNAUDITED YIELD TO MATURITY PURCHASE MATURITY DATE DATE (2) (3) (4) ORIGINAL CURRENT CURRENT PURCHASE BOOK MARKET PRICE VALUE VALUE 0401-1~me Deposits-No Umit { 0401-Neg. Certificate of Deposit-lO%,Max 5 yrs { { 0407-Commercial Paper-25%, Max 90 Days { 0403-BankersAcceptances.25%,Maxl8ODays I 0405-Federal Agencies-50% FHLB Discount Notes FFCB Discount Notes FFCB Discount Notes · SLMA FHLB Discount Notes FHLMC 0407-Other Investments State Of California GO Bonds 0409-US Treasury Bills/Bonds/Notes. No Umit { Treasury Note Dally-No Umit { Cash-Ol01 Deferred Compensation Deposits with Fiscal Agents-'93 Water COP's Deposits with Fiscal Agents-Assess. Dist. Deposits with Fiscal Agents-Co.Wlde Fin Auth. Cash with TCA Trustee Local Agency Investment Fund-0402 * June balances were not available at the time this report was prepared. Balances reflected are as of May. CurrentTotah [ $01 $0 Current Totah [,, $0.1 $0 Current Totah I sOl so Current Torah I °.°°%1 (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 $1,932,500 Current Totah $12,062,899 $12,022,185 I 16.29%1 (8) 5.45% 03/30/99 09/01/01 $2,650,900 $2,650,900 $2,603,370 Current Total: $2,650,900 $2,603,370 (8) 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 {8) 3.60% (7) $510,595 $510,595 N/A (9)* $12,205,258 $12,205,258 N/A (10)* $1,157,428 $1,157,428 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)* $25,636,459 $28,607,178 TOTAL CITY INVESTMENTS PERFORMANCE MEASUREMENT: Weighted Average Portfolio Ufe (Days): Weighted Average Portfolio Yield: Current 6 mos.Treasury: Current Totah $57,329,581 $60,300,300 I 77.43%i 4.8o%! $74,041,340 $76,933,975 (1) DESCR{PTION-LIM{TS INVESTMENT SCHEDULE AS OF: JUNE 30,1999 UNAUDITED YIELD TO PURCHASE MATURITY MATURITY DATE DATE (2) ORIGINAL PURCHASE AMOUNT (3) CURRENT BOOK VALUE (4) CURRENT MARKET VALUE 0401-Time Deposits-No Umit { 0401-Neg. Certificate of Deposlt-10%,Max 5 yrs { I 0407-Commercial Paper-25%, Max 90 Days { 0403-Bankers Acceptances-25%, Max 180Days { (5) 0407-Corporate Notes-10% 0407-Other Investments I (5) Current Total: Current Total: Current Total: Current Totah Current Total: I so ! so I so! sol 0.00%! (8) 0409-Federal Agencies-50% FHLB Discount Notes SLMA FHLB FHLMC I 0409-US Treasury Bills/Bonds/Notes-No Umlt ] Daily-No Umlt RDA Cash-0102 Deposits w/Fiscal Agent-Tax Nlocation Bds Local Agency Investment Fund-0402 *June balances were not available at the Ume this report was prepared. Balances reflected are as of May. Current Total: SO SO 4.79% 01/15/99 07/14/99 ' $1,953,890 5.17% 03/11/99 08/11/00 $997,656 5.28% 03/11/99 03/02/01 $1,001,836 5.49% 11/05/98 11/05/03 $995,469 0'00%l (8) $1,953,890 $1,964,000 $997,656 $997,656 $1,001,836 $1,001,836 $995,469 $966,469 Current Totah $4,948,851 $4,929,961 22'°5%l (8) Current Totah $0 $0 3.60% (7) N/A (10)* 5.09% (11)* TOTAL RDA INVESTMENTS Current Total: · I PERFORMANCE MEASUREMENT: IWeighted Average Portfolio Ufe (Days): IWeighted Average Portfolio Yield: I Current 90 day Treasury:. 99.29 5.34% 4.75% 0.00%I (8) $73,122 $73,122 $1,101,111 $1,101,111 $16,323,257 $17,855,286 $17,497,490 $19,029,519 77.95%~ $22,446,341 $23,959,480 TOTAL CITY/RDA INVESTMENTS: $96,487,681 $100,893,455 FOOTNOTES: (1) DESCRIPTION-UMITS reflects the various authorized investments as documented in the most current adopted investment polcy and the allowable percentage of total portfolio per investment type.. (2) OriDnal Purchase Price is the amount paid for a securitJes less any discount plus any premium. (3) Current Book Value is oriDnal cost of secuJties less receipt of principal payments, net of amortJzed premiums/discounts. (2) OriDnal Purchase Price is the amount paid for a securities less any discount plus any premium. (3) Current Book Value is oriDnal cost of secuities less receipt of principal payments, net of amortized premiums/discounts. (4) Current Market Value is the price at which securities are currently trading. Current market values are provided by Bank of America and Bank of NewYork en all securities held in safekeeping for the City and RDA. Differences in value are booked only if the securities are sold prior to their maturities. (5) In compliance with Section II, paragraph f. of the City's Investment Policy, Corporate Notes must have a Moody's/Standard and Poors's long term debt rating of at least AA. (6) Securities held in Trust per Funding Agreement between the City of Tustin and the Foothill/Eastern Transportation Corridor Agency adopted by the City Council on 6-$-95. (?) Earnings allowance on compensating bank balances to offset bank activity charges. Allowance is included Jn the Average Yield calculation. The cash balances include amounts "swept" from account for overnight investments. (8) Current percentage by investment type to be measured a~ainst 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. (9) IRS code Section 45? employee deferrals held by the City for future benefit of employees. (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 car~Jng amount of the pool as of May 31,1999 was $33,437,617,375 and the estimated market value (including accrued interest) was $33,818,604,396. The City and Agency's preportionate share of that value is $42,43?,803. 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 Tusfln. 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 sufflcent cash flow liquidity to meet the next six (6) months estimated expenditures. This statement is prepared in conform~~F~pvernment Code..