HomeMy WebLinkAboutItem 4.6 Treasurer's Report 11-30-1992 CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: December 14, 1992
SUBJECT: City Treasurer's Investment Report as of
November 30, 1992
Prepared by Stan Stephens, Interim Finance Director
EXHIBITS ATTACHEV� neceive nvestment Report
RECOMMENDATION: Report
DESCRIPTION: Attached is the Investment detail list as of November
30, 1992. The report shows that the City's investment portfolio totals
.$16,786,652.06. This represents an increase of $487,480.18 in the amounts
invested when compared to the City's investments of last month, due
primarily to the refund from the State for money held in the condemnation
fund for the Nohr property.
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 as of 1I-30-92. The
LAIF pays interest once a quarter. It is managed by the State Treasurer's
Office. The advantage in using that 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 quarterly
period. The City's portfolio is poised to move into longer maturities as
the rates begin to improve.
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 NO. 6 CITY CLERK
FILE 1110 3 2
V _ _
City of Dublin
City Treasurer's Investment Report
November 30, 1992
Interest
Type of Amount Rate of Maturity
Institution Investment Invested Investment Date #
State Treasurer (LAIF) $14,773,480.18 * 4.659 0 00 00 1
Bank of Calif (FHLB Debentures) (1) $223,171.88 7.650 2 18 93 2
Bank of Calif (FHLB Debentures) (1) $490,000.00 7.700 8 26 96 3
Bank of Calif (FNMA Debentures) (2) $1,300,000.00 9.200 6 10 97 4
CURRENT AMOUNT INVESTED $16,786,652.06
PRIOR PERIOD INVESTED $16,299,171.88
Increase/(Decrease) $487,480.18
Weighted average yield next month 5.139
footnotes
1. The Federal Home Loan Bank (FHLB) consolidated bonds are "lawful investments
for all fiduciary, trust, and public funds".
2. The Federal National Mortgage Association (FNMA) debentures are "lawful
investments and may be accepted as securities for fiduciaries, trusts,
and public funds".
3. * Current transactions, net transfer to LAY was $487,480.18.