HomeMy WebLinkAbout4.02 CT InvestRpt
, -
r-
.
.
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: December 12, 1994
SUBJECT:
~ city Treasurer's Investment Report: November 30, 1994
~-(prepared by: Paul S. Rankin, Assistant city Mgr)
EXHIBITS ATTACHED: Listing of Investments as of November 30, 1994
RECOMMENDATION~Receive Report
DESCRIPTION: The attached listing details the City'S investments as of
November 30, 1994. The total amount shown as invested is approximately
$300,000 more than the amount shown at the end of the previous month. This
is caused partially by a delay in the release of the monthly Dougherty
Regional Fire Authority payment authorized on the November 28, 1994 warrant
register for approximately $220,000. It is anticipated that this payment
will be released in early December as major Property Tax Revenues are
received.
OVerall, the total yield on the City's portfolio for the month of November
showed a very slight favorable gain from the rate shown for the month of
October (5.665% vs. 5.648% respectively). This was primarily due to a
favorable change in the rates at the Local Agency Investment Fund and a
modest increase in the rate of return calculated on the .Dean witter Mutual
Fund. The majority of the portfolio (67.5%) is invested in United States
Government and united Government Agency Securi ties wi th various dates of
maturities. The average interest earned from these securities is 5.731%.
No new investments were purchased in the month of November. Anticipated
expendi tures require the maintenance of an adequate cash flow and it was
determined that no additional investments would be made.
The LAIF quarterly average was 5.3260% as of December 5, 1994. This is up
slightly from the 5.240% rate reported last month. For reporting purposes
this report includes the Quarterly Rate of 5.240%, since this is how the
interest is calculated and paid.
LAIF tends to hold a mix of shorter term investments typically not extending
on an average basis much beyond one year. For the ci ty this remains as a
very liquid professionally managed investment. Further it allows for
diversification undertaken by professional managers responsible for the
investment of billions of dollars of public funds.
The schedule of investment maturi ties is anticipated to allow the City to
meet anticipated expenditures in the upcoming month.
---------------------------------------------~------------------------
COPIES TO:
4.2
CITY CLERK
FILE ~
; ,
- city of Dublin-
City Treasurer's Listing of Investments
As of November 30, 1994
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.
t'
INVESTMENT
Cost Yield
MATURITY
Value
Rate
TYPE OF INVESTMENT
Date
POOLED INVESTMENTS 20.7% of Total Portfolio
State of California
LAIF
$3,870,000.00 (1) 5.326%
$3,870,000.00
MUTUAL FUND 9.1% of Total Portfolio
Dean Witter Reynolds
U.S. Govt Securities
$1,699,995.50 (3) 6.015%
(2)
(2)
CERTIFICATES OF DEPOSIT 2.6% of Total Portfolio
5.250%
5.560%
5.250%
5.200%
6.010%
5.457%
First Republic T & L
Fremont Investment & Loan
Southern Calif FS&L
Standard Pacific Svgs
World Savings
$95,000.00
$99,000.00
$98,000.00
$99,000.00
$100.000.00
$491,000.00
$95,000.00 5.250
$99,000.00 5.560
$98,000.00 5.250
$99,000.00 5.200
$100.000.00 6.010
$491,000.00
GVRNT!AGENCY SECURITIES (4) 67.5% of Total Portfolio
9/14/98
7/30/98
9/14/98
7/30/98
1/29/98
Bank of California(Safekeeping)
FNMA 6/30/95 $500,000.00 5.250
FHLB 10/19/95 $500,000.00 5.820
FHLB 5/20/96 $500,000.00 6.200
FHLB 8/26/96 $490,000.00 7.700
U S Treasury Note 2/15/97 $500,000.00 4.750
FFCB(Callable 3/03/95) 3/03/97 $500,000.00 5.120
FHLMC(Callable 5/24/95) 5/24/97 $500,000.00 6.510
FHLB(Callable 6/09/95) 6/09/97 $500,000.00 6.720
FNMA 6/10/97 $1,205,000.00 9.200
FNMA(Callable 5/13/96) 5/13/98 $500,000.00 5.250
FHLMC(Callable 9/09/94) 9/09/98 $500,000.00 4.950
FNMA(Callable 10/15/96)10/15/98 $1,000,000.00 4.875
U S Treasury Note 10/31/98 $1,000,000.00 4.750
FHLB(Callable 11/03/94)11/03/98 $1,000,000.00 5.110
FNMA(Callable 12/10/96)12/10/98 $1,000,000.00 5.310
FHLB(Callable 1/12/95) 1/12/99 $2,000,000.00 5.460
FNMA(Callable 2/12/96) 2/12/99 $400.000.00 5.550
$12,595,000.00
5.250%
6.165%
6.200%
7.700%
5.724%
5.420%
6.510%
6.720%
7.066%
5.482%
5.020%
4.889%
5.101%
5.110%
5.311%
5.460%
5.564%
5.731%
$500,000.00
$498,281.25
$500,000.00
$490,000.00
$488,274.35
$496,388.80
$500,000.00
$500,000.00
$1,262,000.00
$496,000.00
$498,578.12
$999,463.57
$986,984.38
$1,000,000.00
$999,585.92
$2,000,000.00
$399.770.85
$12,615,327.24
$18,676,322.74
5.665%
Total Investments - per Books
-------
----_._-
---------------
---------------
Footnotes
(1 )
(2 )
Interest rate shown is quarterly average as of December 5, 1994.
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
r~te. The investment strategy assumes that approximately $1 million
w~ll be held through July 1, 1999, and $699,995 through October 1, 1999,
wlthout a deferred sales charge.
Market value as of November 28, 1994, based upon original shares invested
plus fiscal year to date dividends is $1,547,423. The market value would
a~so.be affec~ed by deferred sales charges, if the investment were
llquldated prlor to the dates stated in note (2).
The yield on a mutual fund" fluctuates with the share price of shares
currentl~ held. The yield presented is an annualized amount based upon
the preVlOUS twelve months of dividends at the share price as of 11/28/94
divided by the original cost.
Federal Home Loan Bank (FHLB), Federal Farm Credit Bureau (FFCB), Federal
National, Mortgage Association (FNMA), and Federal Home Loan Mortgage Corp
(FHLMC) are lawful investments for local governmental agencies,
( 3 )
(4 )
(5 )