HomeMy WebLinkAboutItem 4.02 CT InvestRpt 02-28-1995
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: March 13, 1995
SUBJECT:
City Treasurer's Investment Report: February 28,1995
~repared by: Paul S. Rankin, Assistant City Manager)
EXlllBITS ATTACHED: Listing of Investments as of February 28, 1995
RECOMMENDATION~ceive Report
DESCRIPTION: The attached listing details the City's investments as of February 28,1995. The
total amount shown as invested is approximately $ 450,000 more than the amount shown at the end of the
previous month. This increase is temporary in nature and is affected by timing of the release of payments
approved during the month. At the February 27, 1995 City Council meeting, the City Council approved
payments totaling over $1,279,000, which will be released shortly after March 1, 1995. This will more than
offset any increase in the total amount of funds available to invest
Overall, the total yield on the City's portfolio for the month of February showed a favorable gain from the
rate shown for the month of January (5.824% vs. 5.800% respectively). This was primarily due to a
favorable change in the rates at the Local Agency Investment Fund and an increase in the rate of return
calculated on the Dean Witter Mutual Fund. No new investments were purchased during the month.
The LAIF quarterly average was 5.690% as of February 28, 1995. This is up slightly from the 5.610% rate
reported last month. For reporting purposes this report includes the Quarterly Rate of, since this is how the
interest is calculated and paid. The actual daily rate as of February 28, 1995 was 5.890%, which indicates
that there remains an opportunity to achieve increased interest yield in the coming months in this fund.
The schedule of investments including the dates of maturity is anticipated to allow the City to meet
anticipated expenditures in the upcoming month.
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City of Dublin
City Treasurer's Listing of Investments
as of February 28,1995
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This listing excludes Dublin Boulevard Extension Assessment District and COP reserve fund balances which are held by third party
Trustees and invested in accordance with the financing legal documents.
TYPE OF INVESTMENT
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MATURITY
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Rate
INVESTMENT
Qm Yield
POOLED INVESTMENTS 22.4% of Total Portfolio
State of California
LAIF
$4,450,000.00
$4,450,000.00 (1) 5.690%
MUTUAL FUND 8.6% of Total Portfolio
Dean Witter Reynolds
U.S. Govt Securities
(2)
(2)
$1,699,995.50 (3)
6.296% (4)
CERTIFICATES OF DEPOSIT 3.0% of Total Portfolio
Home Savings of America
World Savings
Fremont Investment & Loan
Standard Pacific Savings
First Republic T & L
Southern California FS & L
12/08/95
1/29/98
7/30/98
7/30/98
9/14/98
9/14/98
$99,000.00
$100,000.00
$99,000.00
$99,000.00
$95,000.00
$98.000.00
$590,000.00
7.500
6.010
5.560
5.200
5.250
5.250
$99,000.00
$100,000.00
$99,000.00
$99,000.00
$95,000.00
$98.000.00
$590,000.00
7.050%
6.010%
5.560%
5.200%
5.250%
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5.724%
GOVERNMENT/AGENCY SECURITIES (5) 66.1% of Total Portfolio
Bank of CaIifornia(Safekee.pinl:) .
FNMA 6/30/95 $500,000.00 5.250 . $500,000.00 5.250%
FHLB 10/19/95 $500,000.00 5.820 $498,28125 6.165%
FHLB 5/20/96 $500,000.00 6.200 $500,000.00 6.200%
FHLB 8/26/96 $490,000.00 7.700 $490,000.00 7.700%
FHLB (Callable 12/20/95) 12/20/96 $500,000.00 7.900 $500,000.00 7.900%
U S Treasury Note 2/15/97 $500,000.00 4.750 $488,274.35 5.724%
FFCB (Callable 3/03/95) 3/03/97 $500,000.00 5.120 $496,388.80 5.420%
FHLMC(Callable 5/24/95) 5/24/97 $500,000.00 6.510 $500,000.00 6.510%
FHLB (Callable 6/09/95) 6/09/97 $500,000.00 6.720 $500,000.00 6.720%
FNMA 6/1 0/97 $1,205,000.00 9.200 $1,262,000.00 7.066%
FNMA (Callable 5/13/96) 5/13/98 $500,000.00 5.250 $496,000.00 5.482%
FHLMC(Callable 9/09/94) 9/09/98 $500,000.00 4.950 $498,578.12 5.020%
FNMA (Callable 10/15/96) 10/15/98 $1,000,000.00 4.875 $999,463.57 4.889%
U S Treasury Note 10/31/98 $1,000,000.00 4.750 $986,984.38 5.101%
FHLB (Callable 11/03/94) 11/03/98 $1,000,000.00 5.110 $1,000,000.00 5.110%
FNMA (Callable 12/1 0/96) 12/10/98 $1,000,000.00 5.310 $999,585.92 5.311%
FHLB (Callable 1/12/95) 1/12/99 $2,000,000.00 5.460 $2,000,000.00 5.460%
FNMA (Callable 2/12/96) 2/12/99 $400.000.00 5.550 $399.770.85 5.564%
$13,095,000.00 $13,115,327.24 5.813%
TOTAL INVESTMENTS-PER BOOKS $19.855.322.74 5.824%
Footnotes'
(1) Interest rate shown is quarterly average as of February 28, 1995.
(2) As a mutual fund investment this investment can be liquidated at any given time, however the asset value will fluctuate based upon the current market rate.
The investment strategy assumes that approximately Sl million will be held through July 1~ 1999, and S699,995 through October 1, 1999, without a
deferred sales charge. Current market value is stated in #3 below.
(3) Market value as of February 24, 1995, based upon original shares invested plus fiscal year to date dividends is Sl,622,072. The market value would also be
affected by deferred sales charges if the investment were liquidated prior to the dates stated in note (2).
(4) The yield on a mutual fund fluc~ with the share price of shares currently held. The yield presented is an annualized amount based upon the previous
twelve months of dividends at the share price as of February 24, 1995, divided by the original cost
(5) Federal Home Loan Bank (Flll,B), Federal Farm Credit Bureau (FFCB), Federal National Mortgage Association (FNMA), and Federal Home Loan
Mortgage Corp (FHLMC) are lawful investments for local governmental agencies.