HomeMy WebLinkAbout06 INVESTMENT RPT. 10-15-01AGENDA REPORT
NO. 6
10-15-01
MEETING DATE:
OCTOBER 15, 2001
355-50
TO:
HONORABLE MAYOR AND-MEMBERS OF THE CITY COUNCIL
FROM' G.W. JEFFRIES, CCMT, CITY TREASURER
SUBJECT' QUARTERLY INVESTMENT REPORT
RECOMMENDATION:
Receive and file.
DISCUSSION:
In compliance with Government Code Section 53646, the attached Investment Report for the
quarter ending September 30, 2001 is rendered.
Treasurer'
GWJ:ts
Attachment
GWJ:Q uartedyl nvestmentReportSeptember2001 .doc
m
PAR VALUE bE,SCRIPT[ON
CITY OF TUST[N:
$0 Time Deposits
$0 Negotiable Certificates of Deposit
$0 COmmercial Paper
$0 Bankers Acceptances
$0 Other Investments
$9,470,000 Federal Agencies
$26,000,000 U. 5. Treasuries
N/A Cash
N/A Cash with Fiscal Agents *
N/A Local Agency Investment Fund
CITY OF TUS TIN ZNVES TA~ENT REPOR T
5UMMARY
C~UARTER ENDING
September 30,200:1
(Unaudited)
Allowable Original Current
M~ximum Portion of Purchase Book
Maturi17 Portfolio Total Value
Current
Market
Value
5 yrs No Limit $0
5 yrs 10% $0
90 days 25% $0
180 days 25% $0
5 yrs No Limit $0
5 yrs 50% $9,347,408
5 yrs No Limit $31,959,918
N/A N/A $6,658,607
N/A N/A $17,887,018
NIA NIA $29,969,883
$95,8ZZ,834
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days):
Weighted Average Portfolio Yield:
Current 6 mos. Treasury:
$0
$o
$o
$o
$o
$9,347,408
$31,959,918
$6,658,607
$17,887,018
$29,969,883
$95,822,834
206.63
4.66%[
2.45%]
$0
$o
$o
$o
$o
$9,365,943
$32,787,722
$6,658,607
$17,887,018
$30,381,644
$97,080,934
Current
Concentration
0.00%
0.00%
0.00%
0.00%
0.00%
9.75%
33.35%
6.95%
18.67%
31.28%
10o.oo%
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 are:
$77,935,816
c~TY OF TUS T[N ZNYES T~IENT REPOR T
INVESTMENT SCHEDULE AS OF:
September 30,2001
UNAUDITED
(1) (2)
PAR VALUE DESCRIPTION-LIMITS COUPON
{ 040Z-Time Deposits-No Limit J~
[ .................... 0401'---Neg~ Ce~-!:i-fic-a-l:e--°-f- ~e_P°Si_t..'_!°?_:~.a~_.___5.__.Y_.~.S_ ...................... i
0407-Commercial Paper-25%, Max 90 bays
0403-Bankers Acceptances-25%, Max 180Days I
YIELD
TO PURCHASE
MATURITY DATE
MATURITY
bATE
Current Totals:
Current Totals:
Current Totals:
Current Totals:
[._._i ............. O~05-Federal Agenci~,s-50% ' "]
$3,000,000 FHLMC Discount Note
$2,000,000 FHLMC Discount Note
$3,000,000 FHLMC Discount Note
$1,470,000 FHLMC MTN
$9,470,000
. 0407-Other Investments
0409-U5 Treasury Bills/Bonds/Notes-No Limit
$3,000,000
$3,ooo,ooo
$2,000,000
$2,ooo,ooo
$2,000,000
$2,000,000
$2,ooo,ooo
$2,ooo,ooo
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
3.64%
3.77%
3.63%
4.63%
$26,000,000
US Treasury Notes 6.38%
U5 Treasury Notes 6.25%
US Treasury Notes 6.25%
US Treasury Notes 6.00%
US Treasury Notes 5.75%
U5 Treasury Notes 5.63%
US Treasury Notes 5.13%
U5 Treasury Notes 4.75%
U5 Treasury Notes 4.75%
U5 Treasury Notes 4.25%
US Treasury Notes 4.00%
US Treasury Notes 4.25%
U5 Treasury'Notes 4.88%
US Treasury Notes 3.79%
U5 Treasury Notes 3.63%
(3)
ORIGINAL
PURCHASE
PRICE
$o
$o
$o
$0
3.74% 06/29/01 10/24/01 $2,964,510
3.89% 05/30/01 11/08/01 $1,966,070
3.74% 06/29/01 12/14/01 $2,949,180
4.71% 05/30/01 04/23/03 $1,467,648
Current Totals: $9,347,408
Current Totals:
I', Daily-No Limit
Cash-1001 (~ncludes Overnight 5weep) 2.85%
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
C~sh with TCA Trustee 2.85%
Deposits with Fiscal Agents-Tax Allocation Bonds* N/A
Local Agency Investment Fund-1102 4.49%
#REFI
(4)
CURRENT
BOOK
VALUE
I ~o
.............. ('9)' ....................
I ~o
......................... [~) .......................
I'
......................... (9} .......................
I so ~
...................... -(9} ......................
(5)
CURRENT
MARKET
VALUE
$o
$o
$o
$0
$2,964,510
$1,966,070
$2,949,180
$1,467,648
$9,347,408
9.75"/0 {
$0
I 0.00% )
......................... (9) .......................
$2,964,315
$1,973,160
$2,948,760
$1,479,708
$9,365,943
$0
6.48% 06/30/00 06/30/02 $2,994,000 $2,994,000 $3,166,347
6.28% 07/31/00 07/31/02 $2,998,110 $2,998,110 $3,149,363
6.33% 08/31/00 08/31/02 $1,997,080 $1,997,080 $2,087,779
6.00% 10/02/00 09/30/02 $1,999,900 $1,999,900 $2,077,008
5.85% 10/31/00 10/31/02 $1,996,460 $1,996,460 $ 2,059,750
5.70% 12/04/00 11/30/02 $1,997,380 $1,997,380 $2,049,314
5.13 % 01/02/01 12/31/02 $1,999,800 $1,999,800 $ 2,079,092
4.76% 01/31/01 01/31/03 $1,999,620 $1,999,620 $2,055,977
4.81% 02/28/01 02/28/03 $1,997,740 $1,997,740 $2,042,914
4.30% 04/02/01 03/31/03 $1,998,568 $1,998,568 $2,021,527
4.12% 04/30/01 04/30/03 $1,995,280 $1,995,280 $2,003,641
4.33% 05/30/01 05/31/03 $1,997,080 $1,997,080 $2,006,110
3.99% 07/02/01 06/30/03 $1,995,620 $1,995,620 $1,995,620
3.96% 07/31/01 07/31/03 $1,995,580 $1,995,580 $1,995,580
3.69% 08/31/01 08/31/03 $1,997,700 $1,997,700 $1,997,700
(8)
(9)
(1o)
(7)
(lO)
(11)
Current Totals:
$31,959,918
Current Total:
206.63
4.66%
2.45%
$31,959,918
33.35%
TOTAL CITY INVESTMENT5
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life (Days):
Weighted Average Portfolio Yield:
Current 6 mos. Treasury:
$32,787,722
$6,658,607
$1,o52~91
$14,898,919
$251,597
$263,501
$1,42o,91o
$29,969,883
$54,515,508
l 56.89~ I
$95,822,834
$6,658,607
$1,o52,o91
$14,898,919
$251,597
$263,501
$1,420,910
$30,381,644
$54,927,269
$97,080,934
(10)
(11)
FOOTNOTES:
(1) PAR VALUE is the full value of the security before any discount or premium is paid at purchase.
(2) DESCRTPTZON-LTMTT5 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 a 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) Tn compliance with ,Section TT, 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 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 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 as total portfolio changes.
Tnvestments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond
documents or current TR5 codes'.
The carrying amount of the pool as of August 31,2001 was $48,069,228,543 and the estimated market value (including accrued interest)
was $55,175,428,123. The City's proportionate share of that value is $30,381,644.
CER T~Z F~Z CA TT ON:
T 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 5e~364~o~overnment Code.
* ,September balances were not available at the time this report wa pared.