HomeMy WebLinkAbout16 QUARTERLY INV RPT 01-19-99DATE:
January '19, '1999
NO. 16
1-19-99
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 December 31, 1998 is rendered.
GWJ:ts
Attachment
GWJ:QuartedyReport98.December. doc
~ YEL OPMENTAGEN~YINYESTMENT~ ~. t~T
(1)
DESCRIPTION-LIMiTS
QUARTERLY
INVESTMENT SCHEDULE AS OF:
DECEMBER 31,1998
UNAUDITED
YIELD
TO
MATURITY
PURCHASE MATURITY
DATE DATE
(2) (3) (4)
ORIGINAL CURRENT CURRENT
PURCHASE BOOK MARKET
AMOUNT VALUE VALUE
0401-Time Deposits-No Limit
0401-Neg. Certificate of Deposit-lO%,Max 5 yrs
0407-Commercial Paper-25%, Max 90 Days
Current Totah I
Current Totah I
Current Totah I
0403-Bankers Acceptances-25%, Max 180Days ~
(5)
0407-Corporate Notes-lO% ~ (5)
0407-Other Investments
Current Torah I
CurrentTotah I 0'00%! '
(8)
LA Count7 Pension Bonds
I 0409-Federal Agencies-50% I ·
FHLB
FHLMC
I 0409-US Treasury Bills/Bonds/Notes-No Umit !
· ! Daily-No Umit
RDA Cash-0102
Deposits w/Fiscal Agent-TaxAliocation Bds
Local Agency investment Fund-0402
* December balances were not available
at the time this report was prepared.
Numbers reflect the most current balances
as of November 30,1998.
6.00% 05/14/98 -06/30/99 $1,019,340 $1,01.9,340 $1,012,203
Current Totah $1,019,340 $I,012,203
3.93%]
(8)
5.09% 11/05/98 11/09/99 $999,900 $999,900 $997,810
5.49% 11/05/98 11/05/03 $995,469 $995,469 $987,030
Current Total: $1,995,369 $1,984,840
7.70%j
(8)
Current Totah $0 $0
0.00%[
(8)
3.15% (7) $381,17! $381,171
N/A (10) $3,008,701 $3,008,701
5.49% (11)* $19,518,651 $19,777,913
Current Totah $22,908,523 $23,167,785
TOTAL RDA INVESTMENTS
92.54
5.76%
4.50%
PERFORMAN CE M F. ASUREMENT:
Weighted Average Portfolio Ufe (Days):
Weighted Average Portfolio Yield:
Current 90 dayTreasury:
$25,923,232 $26,164,828
TOTAL CITY/RDA INVESTMENTS: $102,056,261 $102,696,237
FOOTNOTES:
(1) DESCRIPTION-LIMITS 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) Original Purchase Price is the amount paid for a securities less any discount plus any premium.
(3) Current Book Value Is original cost of secuitles less receipt of principal payments, net of amortized premiums/discounts.
(2) Original 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 trading. 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 Funding Agreement between the City of Tustin and the Foothill/Eastern
Transportation Corridor Agency adopted by the City Council on 6-5-95.
(7) Earnings allowance on compensaUng bank balances to offset bank acUvity charges. Allowance is included in the
Average Yield calculaUon. The cash balances include amounts "swept" from account for overnight investments.
(8) 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.
(9) IRS code Section 457 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 carrying amount of the pool as of November 30,1998 was .$31,929,094,254 and the esUmated market value
(Including accrued Interest) was $32,125,179,832. The City and Agency's proportionate share of that value is $50,102,246.
CERTIFICATION:
I certify that this report reflects all City and RDA pooled Investments. The Investments represented in this report are in
conformity with the current adopted Investment policy of the City of Tusfln. The market values represented in this report are
provided by Trustees currently holding securities for the City and Agency.
The investment program herein shown provides sufficent cash flow liquidity to meet the next six (6) months estimated
expenditures.
This statement is prepared in conformance wi.~/$~ln 5364~of/~ovemment Code.
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