HomeMy WebLinkAboutItem 4.03 CT InvestRpt (2)
.
--
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: April 12, 1993
SUBJECT:
city Treasurer's Investment Repo~s of
March 31, 1993 11
Prepared by Stan Stephens, It~n ~~ance
Investment Report
~' ,,/""
U{r~ece i ve Report
Director
EXHIBITS ATTACHED:
RECOMMENDATION:/'.
~/
DESCRIPTION: Attached is the Investment detail list as of
March 31, 1993. The report shows that the city's investment portfolio
totals $17,390,000.00. This represents a decrease of $1,000,000.00 in the
amounts invested when compared to the City's investments of last month, due
primarily to the 2nd Quarter police services contract payment in the amount
of $711,833.27.
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 March 31, 1993.
The LAIF pays interest once a quarter. It is managed by the State
Treasurer's Office. The advantages in using that investment mechanism is
that there is no mlnlmum 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 maturity schedule of the City's investments will permit the city to
meet its expenditure requirements for the following month.
INSTITUTION MATURITY INVESTMENT
Type of Investment Date Value Rate Cost Yield
state of California
LAIF $15,100,000.00 $15,100,000.00 4.650%
Bank of California
FHLB Debentures (2 ) 8/26/96 $490,000.00 7.700 $490,000.00 7.700%
FNMA Debentures (2 ) 6/10/97 $1,205,000.00 9.200 $1,300,000.00 7.066%
FFCB Debentures (2) 2/02/98 $400.000.00 5.800 $400.000.00 5.800%
$2,095,000.00 $2,190,000.00 6.977%
World Savings
Cert of Deposit 1/29/98 $100,000.00 6.010 $100.000.00 6.010%
Total Investments - per books $17,390,000.00 (1) 4.951%
--------------- -----~-
--------------- ------~
Footnotes
(1) Net decrease in investments during March 1993 = $1,000,000.
(2) Federal Home Loan Bank (FHLB), Federal National Mortgage Association
(FNMA), and Federal Farm Credit Bank (FFCB) are lawful investments for
local governmental agencies.
----------------------------------------------------------------------
ITEM NO. .4. '7
COPIES TO:
CITY CLERK
FILE ~
,',.,","".