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Home My WebLink About05 QUARTERLY INV RPT 10-20-03AGENDA REPORT Agenda Item Reviewed: City Manager Finance Director MEETING DATE: TO: FROM: SUBJECT: OCTOBER 20, 2003 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 September 30, 2003 is rendered. ~'¢~- T~easurer' GWJ :ts Attachment GWJ:Q uartedylnvestment ReportSeptem ber2003.doc CITY OF TUSTZN ZNVE$ TI~ENTREPOR T (1) PAR VALUE (2) DESeRIPTION-LIA/~TS INVESTMENT SCHEDULE AS OF: September 30, 2003 UNAUDZ-rED (3) TO PURCHASE MATURITY PURCHASE (4) (5) CURRENT CUrrENT 8OOK MARKET VALUE VALUE r 1101-Neg. Certificate of beposit-lO%,Mox 5 yrs ll07-Commercial Papor-25%, Max 90 Days Jll03-Bankers Acceptances-25%,Moxi80Days J J] 1105-Federal ~lencies-50% jJ J ll07-OtherInvestments J I 1109-U5 Treasury Bills/Bonds/Notes-No Limit J $2,000,000 US Treosu~ Notes $2,000,000 US Treasu~/Bill $2,000,000 US Treasury Notes $2,O00,000 US Treasury Bill $2,000,000 U5 Treasury Notes $2,000,000 US Treasury Bill $2,000,000 US Treasury Notes $2.000,000 US Treasury Bill $2,000,000 US Treosu~/Notes $2,000,000 US Treasury Notes $2,000,000 US Treasury Notes $2,000,000 US Treasury Notes $2,000,000 U5 Treasury Notes $2,000,000 U5 Treasury Notes $ 2,000,000 US Treasury Notes $2,000,000 U5 Treasury Notes $2,000,O00 US Treasury Notes $5,000,000 U5 Treasury Notes $39,000,000 Current Totals; SO Current Totals: S0 Current Totals: Current Totals: SO Current Totals: S0 Current Totals; S0 2.75% 2.77% 10/31/01 10/31/03 1,08% 1.10% 05/29/03 11/28/03 3.00% 3.01% 11/30/01 11/30/03 0.85% 0.86% 06/26/03 12/26/03 3.25% 3.30% 12/31/01 12/31/03 0,95% 0.97% 07/24/03 01/22/04 3.00% 3.04?0 01/31/02 01/31/04 1.05% 1.06% 08/28/03 02/26/04 3.00% 3.06% 02/28/02 02/2g/04 3.63% 3.71% 03/31/02 03/31/04 3.38% 3.38% 04/30/02 04/30/04 3.25% 3.27?. 05/31/02 05/31/04 2.25% 2.27% 07/31/02 07/31/04 2.13% 2.22% 09/30/02 08/31/04 1.88% 1.92% 09/30/02 09/30/04 2.13% 2.14% 10/31/02 10/31/04 2.00% 2.12% 12/02/02 11/30/04 1,13% 1.17% 06/30/03 06/30/05 J Daily-No Limit Cash-lO01 (Includes Overnight Sweep) 0.75?° Deposits with Fiscal Agents-'g3 Water COP's N/A Deposits with Fiscal Agents-Assess. Dist. NIA Deposits with Fiscal Agents-¢o. Wide Fin Auth. N/A Deposits with Fiscal Agents-Tax Allocation Bonds N/A Deposits in Orange County Commingled Investment Pool 1.28% Local Agency Investment Fund-t102 1.64% (8) (g) (lO) (1o) (11) J So $o (g) I $o So (9) I so so (9) I o So (g) J o So (g) I So So (g) $1,999,220 $1,999,220 $2.025,992 $1,989,020 $1.989,020 $1,997,18I $1,999,700 $1,999,700 $2,026,563 $1,991,460 $1,991,460 $1,995.602 $1,998,080 $1,998.080 $2,027,500 $1,990,400 $1,990,400 $1,994,047 $1,g98,500 $I,g98,500 $2,023,071 $1,989,480 $1,989,480 $1.992,053 $1,997,728 $1,997,720 $2,021,195 $1,996,940 $1,996,940 $2,026,250 $2,000,000 $2,000,000 $2.055,564 $1,999,080 $1.999,080 $2,051,042 $1,999,220 $1.999.220 $2,027,459 $1,996,316 $1,996,320 $2,023,190 $1,996,680 $1,996,680 $2,016,250 $1,999,420 $1,999,420 $2,040,170 $1,995,340 $1,995.340 $2,033,958 $4,994,700 $4,994,700 $4,998,438 Current Totals; $38,931,284 $38,931,280 $39,375,525 [ 5,.45% ] (g) Current Total: TOTAL C~TY INVESTMENTS PERFORMANCE MEASUREMENT: i Weighted Average Portfolio Maturity (Days): 171.26 Weighted Average Portfolio Yield: 1.93% Current 5 x Month Treasury Bill: 1.00% $1,144,168 $1,144,168 $1,052,467 $1,052,467 $16,534,758 $16,534,758 $426.222 $426,222 $1.685.725 $1,685,725 $2.030.819 $2,030,819 $13,865,426 $13,879,642 $36,739,585 $36,753.801 I 48.55% I $75,670,865 $76,129.326 ~E$CRIPT'~ON CITY OF TUSTIN IN~'EST,~ENT ~EPOR T QUAR~ END~N~ 5eptembe~ 30, 2003 (g~eudited) Allowable ~imu~ Portion of Maturity Portfolio Original Current Current Purchase Book Market Current Total Value Value Concentration $0 $o $o $o $o $o $39,000,000 N/A N/A N/A N/A Time Deposits 5 yrs Na 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 § yrs §0% $0 $0 $0 0.00% U. 5. Treasuries § yrs No Limit $38,931,284 $38,931,2B0 $39,37§,§2§ §1.4§% Cash NIA NIA $1,144,168 $1,144,168 $1.144,168 1.51% Cash with Fiscal Agents * NIA N/A $19,699,172 $19,699,172 $19,699,172 26.03% Local Agency Investment Fund NIA NIA $13,865,426 $13.865,426 $13,879,642 18.32% $75,670,869 $75,670,865 PERFORMANCE MEASUREMENT: 171.261.97% Weighted Average Portfolio Life (Days): Weighted Average Portfolio Yield: Current 2 Year Treasury: 1.00% $76,129,326 100.00% * Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and ~DA bond issues. Investment options are limited to ?hose specifically permitted by band documents. Total City funds available for effective active management ore: $55,971,693 CITY OF TUSTIN INVESTMENT REPORT Quarter Ending September 30, 2003 OCCMP 3% Cash 2% ~\ LAIF 18%-- Treasury Bills/Notes 51% Cash with Fiscal Agents~ 26% Federal Agencies 0% FOOT~IOT~$; (l) PAR VALUE is the full value of the securi~/before any discount or premium is paid at purchase. (2) DESCRIPTiON-LIMITS reflects the various authorized investments as documented in the most current adopted investment policy and the allowoble 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 gook Value is original cost of securities tess receipt of principal payments, net of amortized premiums/discounts. (§) Current Market Value is the price at which similar securities are currently trading. Current market values are provided by gank of America oed 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 ~':, paragraph f. of the City's Tnvestment 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 TustJn and the Foothill/Eastern Transportation Corridor Agency adopted by the City Council on 6-§ 9§. (8) Earnings allowance on compensating I~nk 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. (g) Current percentage by investment typ~ to be measured against allowable ~imits in current investment policy et time of purchase. M~ximum ratio limits calculated using current book values and ma), change over time as total portfolio changes. (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. (lZ) The September 30 Market Value for LA]~F was not available at the time this repast was prepared. The August 31 Fair Market Value was $§1.476,888,774. T~e City's share of that value is $Z3,879,642. 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 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. ~ ~effries, Treasurer