HomeMy WebLinkAboutItem 4.02 Treasurer's Report 06-30-1992 CITY OF DUBLIN
AGENDA STATEMENT
MEETING DATE: July 13, 1992
SUBJECT :City Treasurer's Investment Report as of
June 30, 1992
EXHIBITS ATTAC, City Treasurer's Investment Report prepared by
hillip S. Molina.
RECOMMENDATION :Accept the Treasurer's Investment Report.
Attached is the Investment detail list as of June 30, 1992. The report shows
that the City's investment portfolio totals $19,199,171.88. This is an increase
in the amounts invested when compared to the City's investments of last month
of $2,087,000, and is due entirely from the money received on the sale of bonds
for the Dublin Boulevard Assessment District.
Note that the rate of interest on investments in the Local Agency Investment
Fund (LAIF) is calculated on a monthly rolling average. The rate identified for
that investment was effective for the moving quarter average ending June 30,
1992. The Fund pays interest once a quarter. It is managed by the State
Treasurer's Office. The advantage in using this investment mechanism is that
there is no minimum investment period, and the interest earned is determined by
the length of time the deposit remains in the fund during any given quarter
period. The City's portfolio is poised to move into longer maturities as the
rates begin to improve.
The Treasurer previously increased the amount invested in LAIF to the maximum
allowed for non-debt cash. This month the Treasurer placed the money that will
be used for construction of the Dublin Boulevard improvements into LAIF. This
amount will be withdrawn each month as the City Engineer requires a draw to pay
for the percentage of the project that is completed.
The maturity schedule of the City's investments will permit the City to meet its
expenditure requirement for the following month.
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COPIES TO:
ITEM N0.
CITY CLERK
O
FILE 3 3 O
City of Dublin
City Treasurer's Investment Report
June 30, 1992
interest
Institution Type of Amount rate of maturity
Investment invested investment date-
State State Treasurer LAIF $17,186,000.00 * 5.460 0 0 0 1
Bank of Ca(FHLB Debentures)(2) $223,171.88 7.650 2 18 93 2
Bank of Calif FNMAY(4) $500,000.00 8.000 4 10 96 3
Bank of Calif.FNMAY Debent . (4) $500,000.00 8.000 4 10 96 4
City Natn'1 BK FNMAY Debent. (4) $300,000.00 8.000 4 10 96 5
Bank of Ca(FHLB Debentures)(2) $490,000.00 7.700 8 26 96 6
CURRENT AMT INVESTED $19,199,171.88
PRIOR PERIOD INVESTED .$17.112,171.88
increase(decrease) $2,087,000.00
weighted average yield next month 5.715%
footnotes
1.and 3. United States Treasury Securities are fully guaranteed
by the U.S. Government.
2. The Federal Home Loan bank consolidated bonds are lawful
investments for all fiduciary, trust, and public funds
including those under the control of the U.S. Government.
4. FNMAY stands for the Federal National Mortgage Association. Obligations
issued by FNMAY debentures are "lawful investments and may be accepted
as securities for fiduciaries, trusts, and public funds. "
5. * = current transactions, but does not show terminated accounts.