HomeMy WebLinkAbout4.4 Treasurer's Report 10-31-1992 CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: November 23, 1992
SUBJECT: City Treasurer's Investment Report as of
y October 31, 1992
Prepared by Stan Stephens, Interim Finance Director
EXHIBITS ATTACHED: Investment Report
RECOMMENDATION: VUP( Receive Report
DESCRIPTION: Attached is the Investment detail list as of October
31, 1992. The report shows that the City's investment portfolio totals
$16,299,171 .88. There were no changes in the amounts invested when
compared to the City's investments of last month. The City has not yet
received the refund from the State Condemnation fund of the $1,008,600 held
in the condemnation fund for the Dublin Boulevard Extension property
purchased this year. Once received, that amount will be invested.
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 10-26-92. 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. C I T 111 _•."`__r
FILE 0 *3 ;2- 0 3 b
City of Dublin
City Treasurer's Investment Report
October 31, 1992
Interest
Type of Amount Rate of Maturity
Institution Investment Invested Investment Date #
State Treasurer (LAIF) $14,286,000.00 4.667 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 Debent) (2) $1,300,000.00 9.200 6 10 97 4
CURRENT AMOUNT INVESTED $16,299,171.88
PRIOR PERIOD INVESTED $16,299,171.88
Increase/(Decrease) 0
Weighted average yield next month 5.161
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" .