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Home My WebLink About4.03 InvestmentRpt4thQtrCITY CLERK File # 091016-0 AGENDA STATEMENT CITY COUNCIL MEETING DATE: August 3, 2004 SUBJECT: Agreement with Zahn Group for Design and Construction Management Services — Civic Center Roof Repair, Evidence Storage Ventilation, and BAAQMD Permitting Report Prepared by: Melissa Morton, Public Works Director ATTACHMENTS: 1) Resolution 2) Agreement (Exhibit A of Resolution) RECOMMENDATION: Adopt resolution approving agreement FINANCIAL STATEMENT: The following amounts have been budgeted for design and project management services for 2004-05 Not -To -Exceed Budget Proposal Civic Center Roof Repair CIP $20,650 Reports, Printing, and Testing $31,500 $2,500 Warranty Investigation $5,710 Tom Proposal $28.860 Evidence Storage Ventilation (Short Term Building Space CIP) $19,000 $16,875 BAAQMD Permitting (Building Management and Fire Services $7,690 $7,690 Operating Budgets) Total for Three Projects: $58,190 $53,425 The proposals are within funds budgeted for each specific project. DESCRIPTION: Staff has received proposals from the Zahn Group to assist with various aspects of the three projects described as follows: The Civic Center Roof Repair CIP (Capital Improvement Project) would re -roof the. second floor deck outside the administrative offices. This area was not re -roofed with the rest of the building because of the expense of removing and replacing the concrete deck tiles; while repairs were made to stop water intrusion during the remediation project, they are considered temporary until such time as the permanent repairs can COPIES TO: John Croswhite, the Zahn un�Group ITEM NO. g-rwtUaagsrzooaagr��►t I 6b a DETAILED LISTING OF PRIMARY PORTFOLIO Government and Agency Securities represent 68% of the Primary Portfolio. A detailed listing of each security is provided in Section 1. The market value of Federal Securities can fluctuate daily and values have been provided as reported by Union Bank of California as of Junc 30, 2004. The City portfolio assumcs that the investments will be held to maturity and there is not an active attempt madc to trade cxisting securities. The City has staggered the maturity dates within the portfolio and it is not anticipated that these funds will need to be called by thc City prior to maturity. The Morgan Stanley Dean Witter US Government Securities Mutual Fund Investment represents 2% of the City's total portfolio. During thc 2003-2004 Fiscal Year thc City has received to datc $61,522 in dividends from this investment, resulting in an annualizcd yield of 3.858%. Since October 1999, the mutual fund may be redeemed without sales charges. COMPOSITION OF PORTFOLIO - SOURCE OF FUNDS To provide an overview ofthc portfolio, the table below shows the total investmcnt balance as of June 30, 2004 by source. Comparison infonnation is also shown for the previous quarter. Note that approximately 32% ofthe investment balancc represents restricted Impact Fee Funds. It is important to keep in mind that this typc of report is merely a snapshot on a particular day. Revcnucs as well as expenditures are not proccssed in equal monthly installments. PORTFOLIO COMPOSITION BY SOURCE OF FUNDS General Fund Current Quarter Prior Quarter 6/3 0/2004 % of 3/3112004 % of Balance Total Balance Total $55,137,136 55.1% $51,784,027 54.2% $4,096,428 4.1% $3,494,536 3.7% $680,803 0.7% $509,577 0.5% $32,012,463 32.0% $31,988,261 33.4% $8,146,352 8.1% $7,871,847 8.2% $100,073,182 100.0% $95,648,248 100.0% Restricted - Special Revenue Funds (I.e. Gas Tax, Special Taxes) Restricted - Assessment District Funds (Le. Landscape Maint & Debt Service) Restricted - Impact Fees Internal Service / Replacement Funds TOTAL CHANGES IN THE TOTAL PORTFOLIO YIELD FROM THE PREVIOUS REPORT The total amount shown as invcsted in the Primary Investmcnt Portfolio is $4,424,934 more than the amount shown at March 31, 2004. Ovcrall, the combined ratc for the total portfolio increased from 2.133% at March 31,2004 to 2.826% at hmc 30, 2004. The increasc was attributable to thc purchase of sevcral fcderal securities noted abovc. The quartcrly average for thc City's LAIF investment was 1.44% as of Junc 30, 2004, which was lowcr than the 1.48% rate recorded for the quarter ending March 31, 2004. The schcdulc of investments, including the dates of maturity, contains adcquate cash flow liquidity to mcet anticipated expcnditures over the next six months. The investmcnts and the schcdule of investments are in compliance with the City's investment policy and all applicable laws and regulations. () rJb c9, - \Cb~ CITY OF DUBLIN QUARTERLY INVESTMENT REPORT 4th QUARTER FY 2003-2004 SECTION I PRIMARY INVESTMENT PORTFOLIO 8.. ~..o '-f t.f 3 A+-+khm¿n+ I CITY OF DUBLIN DETAILED LISTING OF INVESTMENTS ;<6fJ ({I INCLUDING RATE OF RETURN June 30, 2004 COUPON BOOK AND MATURITY VALUE AT INTEREST CURRENT MARKET INVESTMENT 1ST CALL DATE DATE MATURITY RATE YIELD VALUE FEDERAL SECURITIES FHLB 12/15/2004 I 3,000,000 3.875% 3.840% 3,030,930 FHLB 8/26/04 8/26/2005 2 2,000,000 2.325% 2.330% 1,998,280 FHLB 8/25/04 8/25/2006 3 5,000,000 3.050% 3.060% 4,990,650 FNMA 7/2/04 12/29/2006 3 3,520,000 3.000% 3.020% 3,493,600 FHLB 6/3/04 1/2/2007 3 4,480,000 3.000% 3.020% 4,449,222 FHLMC 1/3/2007 3 500,000 6.525% 6.050% 538,905 FFCB 1/23/2007 3 421,000 4.600% 4.460% 434,\ 56 FHLB 2/15/2007 3 4,000,000 4.875% 4.700% 4,151,240 FHLB 10/27/04 4/27/2007 3 3,000,000 3.150% 3.180% 2,975,640 FNMA 8/11/04 5/11/2007 3 3,000,000 3.250% 3.270% 2,980,320 FHLB 8/18/04 5/18/2007 3 2,000,000 3.000% 3.040% 1,974,380 FHLMC 9/10/04 9/10/2007 4 5,000,000 3.650% 3.650% 5,006,100 alLB 2/11/05 2/1112008 4 2,500,000 3.420% 3.460% 2,471,100 FHLMC 4/27/05 4/28/2008 4 5,000,000 3.500% 3.540% 4,941,750 FHLB 12/24/03 6/24/2008 5 9,000,000 3.100% 3.190% 8,735,670 FHLB 9/30/03 6/30/2008 5 1,000,000 3.200% 3.290% 973,750 FHLMC 10/7/04 10/7/2008 5 5,000,000 3.300% 3.390% 4,863,100 FHLB 8/13/04 11/13/2008 5 2,500,000 4.070% 4.080% 2,495,325 FHLB 6/29/04 12/3/2008 5 2,\80,000 4.000% 4.060% 2,\46,624 FNMA 7/7/04 4/7/2009 5 5,000,000 3.550% 3.650% 4,859,400 TOTAL FEDERAL SECURITIES $68,101,000 3.460% $67,510,142 MUTUAL FUNDS $684,569 See Note 1 0.910% $2,647,187 0.680% $684,569 3.858% (2) $1,626,782 1.832% $4,958,538 1.440% $27,604,502 2.826% $100,073,182 Nations Bank Government Reserves Capital Fund Union Bank U.S. Govt Securities Morgan Stanley Dean Witter U.S. Govt Securities $2,647,\87 TOTAL MUTUAL FUNDS POOLED PUBLIC AGENCY INVESTMENTS State of CA.- Local Agency Investment Fund (LAIF) $27,604,502 TOTAL INVESTED PORTFOLIO NOTES: (1) A Mutual Fund investment does not have a stated date of maturity and shares may be sold at any time. The share price at the time of a sale may be either higher or lower than the original cost. (2) Interest Rate shown is based on dividends received this fiscal year to date, which are annualized and then divided by the original investment. Maturity Schedule Sununary of Portfolio (Assuming None of Securites are called prior to Maturity) Money Market Funds/LAIF (1 day liquidity) Maturing in I year or less Maturing in 1-2 years Maturing in 2-3 years Maturing in 3-4 years Maturing in 4-5 years $32,563,040 $3,030,930 $1,998,280 $25,988,\ 13 $12,418,950 $24,073,869 33% 3% 2% 26% 12% 24% Total Portfolio $100,073,182 100% 7/19/2004 11 :03 AM ITEM 1 ?~~ CITY OF DUBLIN SUMMARY OF INVESTMENT PORTFOLIO COMPARISON BY INVESTMENT TYPE June 30, 2004 TYPE OF INSTRUMENT Federal Home Loan Bank (FHLB) Federal Farm Credit Bureau (FFCB) Federal National Mortgage Assn (FNMA) Federal Home Loan Mortgage Corporation (FHLMC) SUB -TOTAL GOVT/AGENCY BOOK AND AVERAGE MARKET %OF MATURITY VALUE PORTFOLIO YEARS 40,392,811 40.4% 3.0 434,156 0.4% 2.6 11,333,320 11.4% 3.6 15,349,855 15.4% 3.7 67,510,142 (1) 67.7% 3.2 Mutual Funds Morgan Stanley Dean Witter U.S. Govt Securities 1,626,782 (2) 1.6% N/A Union Bank U.S. Govt Securities 684,569 0.7% N/A Nations Bank Government Reserves Capital Fund LAIF 2,647,187 2.6% N/A 27,604,502 27.4% N/A $100,073,182 100.0% GRAND TOTAL NOTES: (1) The City intends to hold the investments until maturity or until market values equal or exceed their face value. (2) As a mutual Fund shares can typically be liquidated at any time. The weighted average maturity stated in this chart by Dean Witter based upon all investment instruments owned by the u.s. Government Securities Mutual Fund. 7/19/200410:31 AM ITEM 2 t.f1t CITY OF DUBLIN QUARTERLY INVESTMENT REPORT 4th QUARTER FY 2003-2004 SECTION II LISTING OF SUPPLEMENTAL MONIES UNDER CITY POSSESSION AND/OR CONTROL . OPERATING FUNDS . SPECIAL FUNDS HELD BY TRUSTEES City of Dublin Report of Operating Funds On Hand As of June 30, 2004 G61:f In accordance with the California Government Codc, thc City Treasurer must disclose on a quartcrly basis all monics in its possession. Monics considered invested, and not immediately necessary for current operations, are presented in a separate listing as part of the quarterly report. In the case of Operating Funds in bank accounts, thc amount presented relates to the balancc rcported by the Financial Institution. IT IS IMPORTANT TO NOTE THAT THIS AMOUNT MAY REFLECT FUNDS REQUIRED TO COVER PAYMENTS ALREADY ISSUED AND CHECKS WHICH HAVE NOT CLEARED AS OF THE LAST DAY OF THE QUARTER. Thcrcfore, these balances will fluctuatc throughout the year. These funds are not subjcct to a specified maturity and thc par value would be equivalent to the amount stated. Miscellaneous Cash Non-Catee:orized - Cash Cash Registers/Petty Cash - City Pctty Cash ~ Shannon Center Subtotal Balance 06/30/2004 $1,025.00 $200.00 $1,225.00 OPERATING CASH BALANCES - FINANCIAL INSTITUTIONS Balance 06/30/2004 BANK OF AMERICA- Collateralized Public Money Deposits In Accordancc With California Govcrnment Code $8,413 NATIONS BANK U.S. Treasury Rcscrvcs Adviscr Account (Sweep Account connccted to Bank of America Deposits listed above) $845,510 Cal Fed- Regular Savings Account: FDIC Insured $3,595 Grand Total Amount Cash Balances: $857.518 o ~ltJ 0'1 0 ~~ N. 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