HomeMy WebLinkAbout16 QUARTERLY INV RPT 04-21-03AGENDA REPORT
16
Agenda Item
Reviewed:
City Manager
Finance Director
MEETING DATE: APRIL 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 March 31, 2003 is rendered.
Treasurer
GWJ:ts
Attachment
GWJ:QuartedylnvestmentReportMarch2003.doc
CITY OF TUSTIN INVESTMENT REPORT
Quarter Ending
March 31, 2003
Cash
7%
OCCMP
2%
LAIF
Treasury Bills/Notes
53% .~
Cash with Fiscal
Agents
22%
Federal Agencies
0%
PAR VALUE
DE$CRzPT~ON
C£TY OF TU5 TIN ZNVE5 TMENT REPOR T
SUMMARY
C~UARTER ENDING
March 31, 2003
(Unaudited)
Allowable Original Current Current
Maximum Portion of Purchase Book Market Current
Maturity Portfolio Total Value Value Concentration
$0
$o
$o
$o
$o
$o
$46,000,000
N/A
N/A
N/A
N/A
CITY OF TUSTZN:
Time Deposits 5 yrs No Limit $0 $0 $0 0.00%
Negotiable Certificates of Deposit 5 yrs 10% $0 $0 $0 0.00%
Commercial Paper 90 days 25% $0 $0 $0 0.00%
Bankers Acceptances 180 days 25% $0 $0 $0 0.00%
Other Investments § yrs No Limit $0 $0 $0 0.00%
Federal Agencies 5 yrs 50% $0 $0 $0 0.00%
U. 5. Treasuries 5 yrs No Limit $45,941,768 $43,944,889 $44,615,080 52.12%
Cash NIA NIA $6,177,219 $6,177,219 $6,177,219 7.33%
Cash with Fiscal Agents * N/A NIA $18,276,139 $18,276,139 $18,276,139 21.68%
Deposits in Orange County Commingled Pool N/A N/A $2,018,978 $2,018,978 $2,018,978 2.39%
Local Agency Investment Fund N/A N/A $13,894,420 $13,894,420 $13,950,409 16.48%
$86,308,524 $84,311,645 $85,037,825 100.00%
PERFORMANCE MEASUREMENT: 235'00
Weighted Average Portfolio Life (bays):
Weighted Average Portfolio Yield: 2.42°/o
Current 6 mos.Treasury: 1.50°/o]
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 those specifically permitted by bond documents.
Total City funds available for effective active management ore: $66,035,506 ,
CITY OF TU5 TIN INFE6 TI4ENT REPOR T
(1)
PAR VALUE
(2)
DESCRIPTION-LIMIT5
INVESTMENT SCHEDULE AS OF:
March 31, 2003
UNAUDITED
YIELD
TO
COUPON MATURITY
PURCHASE MATURITY
DATE DATE
(3) (4) (5) *
ORIGINAL CURRENT CURRENT
PURCHASE BOOK MARKET
PRICE VALUE VALUE
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$ 2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,OO0,0OO
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$4,000,000
$46,000,000
L ll01-Time Deposits-No Limit
I llO1-Neg. Certificate of Deposit-lO7'o,Max 5 yrs
[ ll07-Commercial Paper-25%, Max 90 Days
ll03-gankers Acceptances-25%, Max 180bays
I[ n05-Feaeral A~enc~es-50% II
[ ll07-Other Investments [
I ll09-US Treasury Bills/Bonds/Notes-No Limit ]
U5 Treasury Notes 4.00%
US Treasury Notes 4.25%
U5 Treasury Notes 4.88%
US Treasury Notes 3.79%
US Treasury Notes 3.63%
U5 Treasury Notes 2.75%
US Treasury Notes 2.75%
US Treasury Notes 3.00%
US Treasury Notes 3.25%
US Treasury Notes 3.00%
US Treasury Notes 3.00%
US Treasury Notes 3.63%
U5 Treasury Notes 3.38%
US Treasury Notes 3.25%
US Treasury Notes 2.25%
US Treasury Notes 2.13%
US T~e~u~ Notes 1.88%
US T~e~u~ Notes 2.13%
U5 T~easu~ Notes 2.00%
U5 T~easury Notes 1.75%
US T~e~u~ Notes 1.63%
U5 T~easu~ Notes 1.50%
I Daily-No Limit J
Cash-1001 (Includes Overnight Sweep) 1.00%
Deposits with Fiscal Agents-'93 Water COP's N/A
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 1.741%
Local Agency Investment Fund-Il02 1.90%
Current Market Values were not available at the time this report was prepared.
Current Totals $0
Current Totals $0
Current Totals $0
Current Totals $0
Current Totals $0
Current Totals $0
$o j $o
(9)
$o j $o
(9)
$o ! $o
o I $o
(s)
° ] $o
(9)
$o j $o
(9)
4.12% 04/30/01 04/30/03 $1,995,280 $1,995,280 $2,018,760
4.337'0 05/30/01 05/31/03 $1,997,080 $1,997,080 $2,025,000
3.997'° 07/02/01 06/30/03 $1,995,620 $1,995,620 $2,026,260
3.967'° 07/31/01 07/31/03 $1,996,580 $1,996,580 $2,030,620
3.697'0 08/31/01 08/31/03 $1,997,700 $1,997,700 $2,031,880
2.877'° 10/01/01 09/30/03 $1,995,400 $1,995,400 $2,023,120
2.777'0 10/31/01 10/31/03 $1,999,220 $1,999,220 $2,025,000
3.017'o 11/30/01 11/30/03 $1,999,700 $1,999,700 $2,031,880
3.30% 12/31/01 12/31/03 $1,998,080 $1,998,080 $2,040,000
3.04% 01/31/02 01/31/04 $1,998,500 $1,998,500 $2,037,500
3.06% 02/28/02 02/29/04 $1,997,728 $1,997,720 $2,040,000
3.71% 03/31/02 03/31/04 $1,996,940 $1,996,940 $2,057,500
3.38% 04/30/02 04/30/04 $2,000,000 $2,000,000 $2,054,380
3.277'0 05/31/02 05/31/04 $1,999,080 $1,999,080 $2,053,120
2.277'0 07/31/02 07/31/04 $1,999,220 $1,999,220 $2,026,260
2.22% 09/30/02 08/31/04 $1,996,316 $1,996,320 $2,022,500
1.92% 09/30/02 09/30/04 $1,996,680 $1,996,680 $2,013,760
2.147'o 10/31/02 10/31/04 $1,999,420 $1,999,420 $2,021,880
2.12% 12/02/02 11/30/04 $1,995,340 $1,995,340 $2,016,880
1.82% 12/31/02 12/31/04 $1,997,260 $1,997,260 $2,006,260
1.717'o 01/31/03 01/31/05 $1,996,689 $1,996,689 $2,006,260
1.585'o 02/28/03 02/28/05 $3,993,935 $1,997,060 $2,006,260
Current Totals $45,941,768
$43,944,889 $44,615,080
I 52'12% I
(8)
(9)
(lO)
(lO)
(11)
$6,177,219 $6,177,219
$1,052,048 $1,052,048
$15,239,724 $15,239,724
$253,813 $253,8i3
$1,730,554 $1,730,554
$2,018,978 $2,018,978
$13,894,420 $13,950,409
Current Total: $40,366,756 $40,422,745
[ 47.887'0 j
TOTAL CITY ]"NVESTMENT,S
$84,311,645 $85,037,825
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days): 235.00
Weighted Average Portfolio Yield: 2.42%
Current 2 Year Treasury: 1.50%
FOOTNOTE5:
(1) PAR VALUE is the full value of the security before any discount or premium is paid at purchase.
(2) DESCRIPTION-LIMIT5 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 all securities held in safekeeping for the City and RDA. Differences in
value ore booked only if the securities ore sold prior to their maturities. March Market values were not available when this report was prepared.
(6) In compliance with `section I]~, paragraph f. of the City's Investment Policy, Corporate Notes must have a Moody's/,stondord 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-§-95.
(8) 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) 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 os total portfolio changes.
(10) Investments and earnings on monies held by fiscal agents generally ore limited as to type and yield by the bond
documents or current ]~R,S codes.
(11) The Current Market Value for bAIF was not available at the time this report was prepared.
CER TT. FT. CA TT. ON:
I certify that this report reflects all City and RDA pooled investments. The investments represented in this report ore 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 and Agency.
The investment program herein shown provides sufficient cash flow liquidity to meet the next six (6) months estimated
expenditures.
in conformance with `section .~6~6~f-the Government Code.
This statement is prepared ~?~f~ ~' J~~~/e~~~~'~/~ . 't~