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Home My WebLink About04 QUARTERLY INVESTMENT REPORTAgenda Item 4 Reviewed.' AGENDA REPORT City Manager Finance Director MEETING DATE: AUGUST 20, 2013 TO: JEFFREY C. PARKER, CITY MANAGER FROM: PAMELA ARENDS -KING, FINANCE DIRECTOR /INTERIM CITY TREASURER SUBJECT: QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY 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 Agency for the quarter ending June 30, 2013 is rendered. Pamela Arends -King Finance Director /Interim City Treasurer Attachment: June 30, 2013 Quarterly Investment Report CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT INVESTMENT SCHEDULE AS OF JUNE 30, 2013 (4) (5) (6) YIELD ORIGINAL CURRENT CURRENT 111 (2) COUPON/ TO (3) PURCHASE MATURITY BOOK BOOK MARKET DESCRIPTION- LIMITS CCUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE US TREASURY BILLS /NOTES -No Limit: $100 0.85% Al 03127113 02/01/15 $1003800 $1003800 $1002540 $181,211,429 $1,000,000 U.S. Treasury Note 912828PUS $3,000,000 $99 0.47% AAA 01131110 11115/13 $3,002,588 $3,002,588 $3,004,335 U.S. Treasury Note 912828RG7 $5,000,000 $99 0.35% AAA 09122/11 09115114 $4,985,397 $4,985,397 $5,001,760 U.S. Treasury Note 91282OVDS $10,000,000 $99 0.25% AAA 06119113 05/31115 $10,000,907 $10,000,907 $9,982,420 U.S. Treasury Note 912828TG5 $5000000 $99 0.58% AAA 07131112 07131117 $4979333 $4979333 $4880080 $248,000 99 0.40% $23,000,000 06126/13 06126114 $248,000 $248,000 $247,281 $22,968,225 $22,968,225 $22,868,595 FEDERAL AGENCIES - 50% Limit: Federal Home Loan 31379FKO $10,000,000 $100 0.21% AAA IOIQ12 11/15/13 $10,009,600 $10,009,600 $10,005,950 Fannie Mae Global Bond 3135GOXHI $5,000,000 $99 0.50% Aaa 05120113 05120116 $5000000 $5000000 $4963025 $15,000,000 $15,009,600 $15,009,600 $14,968,975 MUNICIPAL BONDS -10% Limit: California St Txabl- General Obligation UNLTD NEGOTIABLE CERTIFICATES OF DEPOSITS Citibank NA Synovus Bank GA Discover Bank Fifth Third Bank Plains Capital BankRX TCF National Bank Sara National Bank GE Capital Bank Sterling Savings Bank Ally Bank Comenity Capital Bank Merrick Bank Fanners & Merchant Bank TN First General Bank Fox Chase Bank Lake Forest Bank & Trust Worth Shore Commercial Bank 8 Trust CORPORATE BONDS - 10% Limit: COCA -COLA CO US Domestic SR Unsecured Barclays Bank PLC Dom. Sr. Unsecured DAILY -No Limit: 13063BN65 _$1000000 $100 0.85% Al 03127113 02/01/15 $1003800 $1003800 $1002540 $181,211,429 $1,000,000 $1,003,800 $1,003,800 $1,002,540 30% Limit - FDIC Insured 17312QZR3 $240,000 99 0.25% 237 06126113 12/26/13 $248,000 $248,000 $247,963 87164DDG2 $248,000 99 0.30% 300 06121/13 06120/14 $248,000 $248,000 $247,092 25"671RA0 $248,000 99 0.35% 300 06126/13 06/26114 $248,000 $248,000 $247,160 316777QN4 $248,000 99 0.40% 234 06126/13 06126114 $248,000 $248,000 $247,281 72663QYS2 $248,000 99 0.30% 296 06126113 06126114 $248,000 $248,000 $247,063 872270AJ5 $248,000 99 0.25% 186 06126113 06126114 $248,000 $248,000 $247,063 78658AJD1 $248,000 99 0.35% 236 06128113 07128/14 $248,000 $248,000 $247,034 3616OW51 $248,000 99 0.35% 300 06121113 12/22/14 $248,000 $248,000 $246,966 8595317C3 $248,000 99 0.35% 300 06/26113 12/26/14 $248,000 $248,000 $246,945 02005QMO $248,000 99 0.55% 268 06/28113 12/29/14 $248,000 $248,000 $247,081 20033ABL9 $248,000 99 0.40% 300 06128113 01128115 $248,000 $248,000 $246,658 59012Y3T2 $248,000 99 0.50% 300 06121/13 06122/15 $248,000 $248,000 $24.613 30246ACM $248,000 99 0.40% 190 06127113 06/26115 $24.000 $24.000 $246,592 320337AP3 $248,000 99 0."% 296 06126113 06126115 $248,000 $248,000 $246,641 35137QAP9 $248,000 99 0.40% 209 06127/13 06126115 $248,000 $24.000 $246,592 509685EQ2 5248,000 99 0.45% 283 06128113 OW29115 11 $240,000 $246,578 G62326BVS $2".000 99 0.45% 217 06128113 06/29115 $248,000 $248,000 $246628 $4, 216, 000 $4,216,000 54,216,000 $4,197,950 191216AL4 $2,571,000 $102 0.30% Aa2 06120/13 03115114 $2,633,732 $2,633,732 $2,627,202 06738KL90 $5,000,000 $99.28 2.00% A2 (7) OV15112 08115/14 $5000000 $5000000 $5036325 $7,571,000 Current Totals: $7,633,732 $7,633,732 $7,663,527 Reconciled General Checking Account Ending Balance Deposits in Orange Co. Investment Pool Deposits in JP MorganPrlmo Money Market Fund Local Agency Investment Fund 0.14% N/A 18) 0.26% (9) 0.07% AAAnn 0.24% NIA Current Daily -No Limit Total: Total: CITY OF TUSTIN CASH AND INVESTMENTS Unrestricted General Fund cash balance as of 06/30/13 ( unaudited) Semi - restricted cash balance as of 06130/13 (unaudited) ( Capital Projects, Proceeds from Land Sales, Backbone Infrastructure) Restricted Cash balances as of 06/30/13 (Water, Special Revenue Funds, Community Facility Districts unaudited) CITY OF TUSTIN CASH AND INVESTMENTS TOTAL SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY DEVELOPMENT CASH AND INVESTMENTS TOTAL' $7,766,674 $7,766,674 $370,133 $370,133 $36,760,221 $36,760,221 $85463041 $85483044 $130,380,072 $130380072 $181,211,429 $181,081,659 $20,618,733 66,008,540 53.512.895 $140,10,168 $41,071,261 CITY OF TUSTIN and THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT INVESTMENT SUMMARY June 30, 2013 PERFORMANCE MEASUREMENT: Weighted Average Days to Maturity: 161 Weighted Averege Portfolio Yield: 0.28X Current 6 mo Treasu E uiva lent: 0.09X FOOTNOTES: (1) DESCRIPTION - LIMITS reflects the various authorized investments as documented in the most current 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 8 PooYs, Moody's or IDC Publishing Inc for bank ratings. IDC ratings are 1 (lowest) to 300 (highest). (4) Original Purchase Price is the amount paid for securities less any discount plus any premium. 15) Current Book Value is original cost of securities less receipt of principal payments, net of amortized premiums /discounts. (6) Current Market Value is the price at which similar securities are currently trading. Current market values are provided by Bank of America and the Stale Treasu ses Office on all securities or deposits held in safekeeping for the City and the Successor Agency for the Tustin Community Redevelopment Agency. Market value differences are only booked at year end. (7) Rated Moody's As when purchased but remains prudent investment 18) 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) Orange County Treasury Money Market Fund rating Is AAAm. Orange County Treasury Extended Fund is not rated by sponsofs choice. (10) Investments and earn ings 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 Redevelopment Agency (SATCRA) pooled investments. Excluding the Barclays Bank PLC Domestic Sr. Unsecured band, the investments represented in this report ere in conformity 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 SATC RA. The investment program herein shown provides suf iciant cash flow liquidity to meet the next six (6) months estimated expenditures. This statement Is prepared in conformance with Section 53646 of the Government Code. Pamela Arends -King, Finance Direclordnterim City Tre u r (4) 151 (6) YIELD ORIGINAL CURRENT CURRENT (1) (2) COUPON/ TO (3) PURCHASE MATURITY BOOK BOOK MARKET DESCRIPTION - LIMITS CUSIP PARVALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE Restricted Deposits with Fiscal Agents: (10) 1998 RDA Tax Allocation Refunding Bonds NIA 1,689,806 $1,689,806 2010 RDA Housing Tax Allocation Bonds N/A 1,872,544 $1,872,544 2010 RDA Tax Allocation Bonds N/A 2,827,617 $2,827,617 2011 Water Revenue Bonds N/A 1,782,685 $1,782,685 CFD 04 -1 N/A S34,219 $534,219 CFD 07-1 N/A 1,380,098 $1380098 Total Restricted Deposits with Fiscal Agents: $37,499,359 $37,499,359 PERFORMANCE MEASUREMENT: Weighted Average Days to Maturity: 161 Weighted Averege Portfolio Yield: 0.28X Current 6 mo Treasu E uiva lent: 0.09X FOOTNOTES: (1) DESCRIPTION - LIMITS reflects the various authorized investments as documented in the most current 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 8 PooYs, Moody's or IDC Publishing Inc for bank ratings. IDC ratings are 1 (lowest) to 300 (highest). (4) Original Purchase Price is the amount paid for securities less any discount plus any premium. 15) Current Book Value is original cost of securities less receipt of principal payments, net of amortized premiums /discounts. (6) Current Market Value is the price at which similar securities are currently trading. Current market values are provided by Bank of America and the Stale Treasu ses Office on all securities or deposits held in safekeeping for the City and the Successor Agency for the Tustin Community Redevelopment Agency. Market value differences are only booked at year end. (7) Rated Moody's As when purchased but remains prudent investment 18) 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) Orange County Treasury Money Market Fund rating Is AAAm. Orange County Treasury Extended Fund is not rated by sponsofs choice. (10) Investments and earn ings 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 Redevelopment Agency (SATCRA) pooled investments. Excluding the Barclays Bank PLC Domestic Sr. Unsecured band, the investments represented in this report ere in conformity 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 SATC RA. The investment program herein shown provides suf iciant cash flow liquidity to meet the next six (6) months estimated expenditures. This statement Is prepared in conformance with Section 53646 of the Government Code. Pamela Arends -King, Finance Direclordnterim City Tre u r CITY OF TUSTIN and THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT INVESTMENT SUMMARY JUNE 30, 2013 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 161 Weighted Average Portfolio Yield: 0.28% Current 6 me Treasury Equivalent: 0.09% 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 Nose specifically permitted by bond documents. Allowable Original Current Current Maximum Portion of Purchase Book Market Current DESCRIPTION PAR VALUE Maturity Portfolio Total Value Value Concentration U. S. Treasuries $23,000,000 5 yrs No Limit 22,968,225.00 $22,968,225 $22,868,595 10.50% Federal Agencies $15,000,000 Syrs 50% 15,009,600.00 $15,009,600 $14,968,975 6.86% Municipal Bonds $1,000,000 Syrs 10% $1,003,800 $1,003,800 $1,002,540 0.46% Corporate Bonds $7,571,000 5yrs 10% 7,633,732.00 $7,633,732 $7,663,527 3.49% Negotiable Certificates of Deposits $4,216,000 NIA N/A $4,216,000 54,216,000 54,197,950 1.93% Cash N/A N/A NIA 7,766,674.00 7,766,674 7,766,674 3.55% Restricted Cash with Fiscal Agents N/A N/A NIA 37,499,359.00 37,499,359 37,499,359 WAS% Deposits in JP Morgan US Govt Money Market Fund NIA N/A N/A 36,760,221.00 36,760,221 36,760,221 16.81% Deposits in Orange County Commingled Pool NIA N/A NIA 370,133.00 370,133 370,133 0.17% Local Agency Investment Fund N/A N/A N/A 85,483,044.00 85,483,044 85,483,0" 39.08% 218,710,787.00 $218,710,788 $218,581,018 100.00% PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 161 Weighted Average Portfolio Yield: 0.28% Current 6 me Treasury Equivalent: 0.09% 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 Nose specifically permitted by bond documents.