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Home My WebLink About06 QUARTERLY INV RPT 01-21-03 NO. AGENDA REPORT , MEETING DATE: JANUARY 21, 2003 TO: FROM: SUBJECT: HONORABLE MAYOR AND MEMBERS Of THE CITY COUNCIL G. W. JEFFRIES, CITY TREASURER QUARTERLY INVESTMENT REPORT 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 for the quarter ending December 31, 2002 is rendered. G.-'W Jeffries ~ ! GWJ:ts Attachment GWJ:QuartedylnvestmentReportDecember2002.doc PAR VALUE DE5CRIPTION t'ID/Of TUS TIN IN~ES T/~ EN T RE£OR T SUMMARY C~UARTER ENDING December 31, 2002 (Unaudited) Allowable Original Current Maximum Portion of Purchase Book Maturity Portfolio Total Value Current Market Current Value Concentration S0 $o So So S46,ooo,ooo N/A N/A CITY OF TUSTIN: Time Deposits Negotiable Certificates of Deposit Commercial Paper Bankers Acceptances Other Investments Federal Agencies U. 5. Treasuries Cash Cash with Fiscal Agents * Deposits in Orange County Commingled Pool Local Agency Investment Fund 5 yrs No Limit $0 S0 5 yrs 10% $0 $0 90 days 25% S0 SO 180 days 25% $0 $0 5 yrs No Limit SO SO 5 yrs 50% SO S0 5 yrs No Limit S45,947,093 S45,947,289 N/A N/A S5,364,331 S5,364,331 N/A N/A S 16,589,749 S16,589,749 N/A N/A S2,009,556 S2,009,556 N/A N/A $18,785,043 S18,785,043 SO 0.00% So 0.00% So 0.o0% So 0.00% S0 0.00% S0 0.0O% S46,726,940 51.80% S5,364,331 6.05% S16,589,749 18.70% S2,009,556 2.27% S18,785,043 S88,695,772 $88,695,968 S89,475,619 100.00% PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 228.52 Weighted Average Portfolio Yield: 2.67% Current 6 mos. Treasu~y: 1.55%J Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RbA bond issues. Investment options are limited to those specifically permitted by bond documents. Total City funds available for effective active management are: $72,106,219 ~ OF TUST]:N 1'NVESTMENT REPORT CITY OF TUSTIN INVESTMENT REPORT Quarter Ending December 31, 2002 Cash 6% OCCMP 2% LAIF Treasury Bills/Notes 52% Cash with Fiscal Agents 19% Federal Agencies 0% CITY OF TUS TZN £NVES TI~EN T REPOR T (1) (2) DESCRIPTION-LIMITS INVESTMENT SCHEDULE A5 OF: December 31, 2002 UNAUDITED YIELD TO COUPON~TURI PURCHA5E MATURITY DATE DATE (3) (4) (5) * ORIGINAL CURRENT CURRENT PURCHA5E BOOK MARKET PRICE VALUE VALUE $2,000,000 $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,0o0,0oo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $2,ooo,ooo $46,000,000 1101-Time Deposits-No Limit 110]-Neg. Certificate of beposit-10%,Max 5 yrs I 1107-Commercial Paper-25%, Max 90 Days I 1103-Bankers Acceptances-25%, Max 180Days 1105-Federal A~/encies-50% I I I 1107-Other Investments J 1109-U5 Treasury Bills/Bonds/Notes-No Limit j US Treasury Notes 4.75% U$ Trensury Notes 4.75% US Treasury Notes 4.25% U5 Treasury Notes 4.00% U5 Treasury Notes 4.25% U5 Treasury Notes 4.88% U5 Treasury Notes 3.79% US Treasury Notes 3.63% U5 Treasury Notes 2.75% U5 Treasury Notes 2.75% U5 Treasury Notes 3.00% U5 Treasury Notes 3.25% U5 Treasury Notes 3.00% US Treasury Notes 3.00% US Treasury Notes 3.63% US Treasury Notes 3.38% US Treasury Notes 3.25% US Treasury Notes 2.25% US Treasury Notes 2.13% US Treasury Notes 1.88% US Treasury Notes 2.13% US Treasury Notes 2.00% U5 Treasury Notes 1.75% Daily-No Limit Cash-lO01 ([ncludes Overnight 5weep) 1.15% Deposits with Fiscal Agents-'93 Water COP's NIA Deposits with Fiscal Agents-Assess. Dist. N/A Deposits with Fiscal Agents-Co. Wide Fin Auth. N/A Deposits with Fiscal Agents-Tax Allocation Bonds N/A Deposits in Orange County Commingled Investment Pool 2.128% Local Agency Investment Fund-Il02 2.16% * Current Market Values were not available at the time this report was prepared. Current Total: $0 Current Total: $0 Current Total: $0 Current Total: $0 Current Total: S0 Current Total: S0 I $o j So I so I so (9) I so I so (9) I so I so I So I So So So 4.76% 01/31/01 01/31/03 $1,999,620 $1,999,620 $2,021,880 4.81% 02/28/01 02/28/03 $1,997,740 $1,997,740 $2,026,880 4.30% 04/02/01 03/31/03 $1,998,589 $1,998,589 $2,028,760 4.12% 04/30/01 04/30/03 $1,995,280 $1,995,280 $2,030,000 4.33% 05/30/01 05/31/03 $1,997,080 $1,997,080 $2,036,880 3.99% 07/02/01 06/30/03 $1,995,620 $1,995,620 $2,036,260 3.96% 07/31/01 07/31/03 $1,996,580 $1,996,580 $2,040,000 3.69% 08/31/01 08/31/03 $1,997,700 $1,997,700 $2,039,380 2.87% 10/01/01 09/30/03 $1,995,400 $1,995,4C)0 $2,025,620 2.77% 10/31/01 10/31/03 $1,999,220 $1,999,220 $2,028,120 3.01% 11/30/01 11/30/03 $1,999,700 $1,999,700 $2,035,000 3.30% 12/31/01 12/31/03 $1,998,080 $1,998,080 $2,042,500 3.04% 01/31/02 01/31/04 $1,998,500 $1,998,500 $2,038,120 3.06% 02/28/02 02/29/04 $1,997,728 $1,997,728 $2,040,000 3.71% 03/31/02 03/31/04 $1,996,940 $1,996,940 $ 2,060,000 3.38% 04/30/02 04/30/04 $ 2,000,000 $ 2,000,000 $2,055,000 3.27% 05/31/02 05/31/04 $1,999,080 $1,999,080 $2,052,500 2.27% 07/31/02 07/31/04 $1,999,220 $1,999,220 $2,021,260 2.22% 09/30/02 08/31/04 $1,996,316 $1,996,316 $2,016,880 1.92% 09/30/02 09/30/04 $1,996,680 $1,996,680 $2,006,880 2.14% 10/31/02 10/31/04 $1,999,420 $1,999,220 $2,021,260 2.12% 12/02/02 11/30/04 $1,995,340 $1,996,316 $2,016,880 1.82% 12/31/02 12/31/04 $1,997,260 $1,996,680 $2,006,880 Current Total: $45,947,093 $45.947,289 $46.726,940 L 51.8°% I (8) (9) (10) (10) (11) $5,364,33[ $5,364,331 $1,052,345 $1,052,345 $12,365,445 $12,365,445 $253,813 $253,813 $2,918,146 $2,918,146 $2,009,556 $2,009,556 $18,785,043 $18,785,043 Current To,al: $42,748,679 $42,748,679 I 48.2°% I TOTAL CITY INVESTMENT5 $88,695,968 $89,475,619 PERFORMANCE MEASUREMENT: Weighted Average Portfolio Life (Days): 228.52 Weighted Average Par,folio Yield: 2.67% Current 2 Year Treasury: 1.55% FOOTNOTE5: (:~) PAR VALUE is the full value of the security before any discount or premium is paid at purchase. (:~) DESCRIPT~ON-LTM]~T5 reflects the various authorized investments as documented in the most current adopted investment policy and the allowable percentage of total portfolio per investment type. (3) Original Purchase Price is the amount paid for securities less any discount plus any premium. (4) Current Book Value is original cost of securities less receipt of principal payments, net of amortized premiums/discounts. (5) Current Market Value is the price at which similar securities are currently trading. Current market values are provided by Bank of America and Bank of New York on oil securities held in safekeeping for the City and RDA. bifferences in value ore booked only if the securities are sold prior to their maturities. (6) ]~n compliance with 5action ]~]~, p~rogroph f. of the City's ]~nvestment Policy, Corporate Notes must hove a Moody's/Standard and Poors 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 b~lances 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) ]~nvestments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond documents or current ]~R5 codes. (Il) Current Market Value for LAIF was not available at the time this report was prepared. CER T~F~ZCA T~ZON: ]~ certify that this report reflects oll 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 ore provided by Custodians and Trustees currently holding securities for the City and Agency. The investment program herein shown provides sufficient cash flow liquidity to meet the next six (6) months estimated expenditures. This statement is prepared in conformance with 5action §3646 of the ~overnment Code. ,Si .