HomeMy WebLinkAbout06 QUARTERLY INV RPT 07-21-03AGENDA REPORT
Agenda Item
Reviewed:
City Manager
Finance Director
MEETING DATE' JULY 21, 2003
TO:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM:
G. W. JEFFRIES, CITY TREASURER
SUBJECT:
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 June 30, 2003 is rendered.
GWJ:ts
Attachment
GWJ:QuartedylnvestmentReportJ une2003.doc
CITY OF TU8TIN INVESTMENT REPORT
Quarter Ending
June 30, 2003
Cash with Fiscal Agents
22~
Cash
1%
OCCMP
LAJF
Treasury Bills/Notes
61%
Federal Agencies
0%
PAR VALUE
bESCR_TPT~ON
~ O~~ TUSTIN INVEST~ENTREBOqT
SUMMARY
QUARTER ENDIN6
Sune 30, 2003
(Ur~udited)
Allowable Original Current
Maximum Portion of Purchase Book
Maturity Portfolio Totel Value
Current
Market
Value
Concentration
$0
$o
So
So
$o
$o
N/A
cITY OF TU3 liN:
Time beposits
Negotiable Certificates of Deposit
Commercial Paper
Bankers Acceptances
Other ~nvestments
Federal Agencies
U. 5. TneasurJes
Cash with Fiscal Agents *
Deposits in Orange County Commingled Pool
Local Agency Snvestment Fund
§ yrs No Limit $0
{5 yrs t0% $0
90 days 25% $0
180 cbys 25% $0
5 yrs No Limit SO
§ yrs ~)% SO
5 yrs No Limit S§2,923,27§
N/A N/A $97t,OtZ
N/ A N/ A $t8,863,~
N/ A N/ A $~,026,595
$86,968,592
PERFOP. MANCE MEASUREMF. NT:
Weighted Aven~je Porl~Colio Life (beys):
Weighted Average PorlnColio Yield:
Current 2 Ye~ Treasury:
SO
$o
$o
$o
$o
$o
$50,926,396
$97t,012
$t8,863,2o9
$2,026,595
$12,184,501
$84,97t,713
279,25
2.13%
1.25%{
$0
$o
$o
$o
$o
851,396,416
8971,012
$18~63,Z09
$2,026,595
$12,233,599
$85,490,831
0.00%
0.00%
0.OO%
O.OO%
0.00%
0.00%
59.93%
1.14%
22.20%
2.39%
14.34%
100.00%
Cash w/th fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RDA bond issues.
):nvestment options aec limited to those specifically permitted by bond documents.
To~ City funds ~veilable for effective ~ctive management are:
$66
CITY OF TUSTIN INVESTA~ENT R£POR T
(1)
PAR VALUE
$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,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooo,ooo
$2,ooooooo
$5,ooo,ooo
$51,000,000
(z)
DESCP, ZPT'ZON-LZA~T5
llO1-Time Deposits4qo Limit
ll01-Ne9. Certificate of beposit-lO%~ax
ll03-Bonkers Accepts25%, Max 180Days j
{ 1109-U5 Treasury Bills/Bonds/Notes-No Limit
US Treasury Notes 3.79%
U5 Tr~asur? Notes 3.63%
US Tm~uury Notes 2.75%
U5 Treasury Notes 2.75%
US Treasury Notes 1.~%
U5 T~ No~s 3.~%
U5 T~ No~s 0.85%
U S T~ ~o~s ~.25%
U5 T~ No~s 3.~%
US T~ ~tes 3.~%
U5 T~ No~s 3.63%
U5 T~ Nat~ 3.38%
U5 T~ No~s 3,25%
US T~ No~s 2.25%
U S T~W ~
U5 T~W No~ 1.88%
US T~W No~s 2.13%
US T~W No~ 2.~%
US T~ No~ 1.75%
US T~ Nat~ 1.63%
US T~ No~ 1.50%
U S T~w No~s 1.6~%
US T~ Notes 1.75%
US T~ No~ 1.13%
r.~s~-tool (I~:k,~_s Ov~m~ht 5we-.p) 0.90%
Deposits with ~1 A~n~-'93 W~r C~' s N/A
b~osifs wi~ ~s~{ A~ts-A~. bi~. N/A
~sits wi~ ~s~l A~ts~a.Wide Fin Au~.
~osits wi~ ~l A~ts-T~ Allo~tion ~nds N/A
Loml ~ ~t F~-1102 1.~%
* Current Book Value was as of 7/15/03.
** Current ~ket Values ere not available at tf~ time this report was pre~.
]iNVESTMENT SCHEDULE A5 OF:
,Tur~ 30, 2003
UNAUbrrED
TO PURCHAS~
COUPON MATURITY DATE
MATUP, TTY
DATE
Current Totals:
Current Totals:
Current Totals:
Current Totals:
Current Totals:
Currert Totals:
(3) (4)*
OR.T6'~NAL CURRENT
PURCHASE BOOK
PP-..TCE VALUE
so I, $o !
(9)
so I $o !
(9)
~ I ~ t
$0
So
$o
e)
(9)
CURRENT
MARKET
VALUE
$0
$o
$o
3.96% 07/31/0l O7/31/03 $1,996,580 $1,996,580 $2,005,000
3.69% 08/31/01 08/31/03 $1,997,700 $1,997;700 $2,008,760
2.87% 10/01/01 09/30/03 $1,995,400 $1,995,400 $2,009,380
2.77% 10/31/01 10/31/03 $1,999,220 $1,999,220 $2,012,500
1.10% 05/29/03 11/28/03 $1,989,020 $1,989,020 $1,992,093
3.01% 11/30/01 11/30/03 $1,999,700 $1,999,700 $2,016,880
0.86% 06/26/03 12/26/03 $1,991,460 $1,991,460 $1,990,513
3.34)% 12/31/O1 12/31/03 $1,998,080 $t,998,0BO $2,022,500
3.04% 01/31/02 01/31/04 $1,998,500 $1,998,500 $2,023,120
3.06% 02/28/02 02/29/04 $1,997,728 $1,997,720 $2,026,880
__ 3.71% 03/31/02 03/31/04 $1,996,940 $1,996,940 $2,039,380
3.38% 04/30/02 04/30/04 $2,000,000 $2,000,000 $2,039,380
3,27% 05/31/02 05/31/04 $1,999,080 $1,999,080 $2,040,620
2.27% 07/31/02 07/31/04 $1,999,220 $1,999,220 $2,025,620
2.22% 09/30/02 08/31/04 $1,996,316 $1,996,920 $2,024,380
1.92% 09/30/02 09/30/04 $1,996,680 $1,996,680 $2,020,000
2.14% 10/31/02 10/31/04 $1,999,420 $1,999,420 $2,026,880
2.12% 12/02/02 11/30/04 $1,995,340 $1,995,340 $2,023,760
1.82% 12/31/02 12/31/04 $1,997,260 $1,997,260 $2,017,500
1.71% 01/31/03 01/31/05 $1,996,689 $1,996,689 $2,013,760
1.58% 02/28/03 02/28/05 $3,993,935 $1,997,060 $2,009,380
1.69% 04/14/03 0:~/31/05 $1,997,422 $1,997,422 $2,013,760
1.70% 04/30/03 04/30/05 $1,996,885 $1,996,885 $2,013,120
1.17% 06/30/03 06/30/05 $4,994,700 $4,994,700 $4,981,250
(8)
(9)
(10)
(10)
(11)
$52,923,Z75
$50,926,396
59.93%
Curnmt Total:
$971,012
$I,0§2,466
$15,563,175
$226,719
$2,020,849
$2,026,~95
$12,184,501
$24~045~317
40.07%
$84,971,713
Current TotaLs:
TOTAL CITY INVESTMENT5
$51,396,416
$971,012
$1,052,466
$15,563,175
$226,719
$2,o2o~49
$2,o26,~)5
$12~33,599
$34,094315
$85,490,831
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (t:~ys):
{Weighted Aven~je Portfolio Yield:
Icurrent 2 Year Treasu~/:
279.25
Z.13%
1.25%
FOOTNOTES:
(t) PAR VALUE is the full value of the security before any discount or premium is paid at purchase.
(2) DESCRZPTZON-L;ZMZT5 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 are booked only if the securities are sold prior to their maturities.
(6) ]Zn compliance with Section Z;Z, paragraph f. of the City's [nvestment Policy, Corporate Notes must have 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 6-5-5)5.
(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.
(5)) 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) ;Znvestments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond
documents or current IRS codes.
(tt) The Current Market Value for LA;ZF was not available at the time this report was prepared.
CERTZF]~CAT[ON:
;Z 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 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.
This statement is prepared in conformance with Section §364(~ of the ~overnment Code.