Item 17 - City's Investment Report
~.GENDA REPORT -
CITY OF POW A Y
This report is included on the Consent Calendar. There will ~ no separ~te discussion of the report prior to approval by the
City Council unless members of the Council. staff or pubhc ~eque~t It to be removed fr?":l ~e ~onsent Calendar and
discussed separately. If you wish to have this report pulled for dISCUSSIon, please fill out a shp mdlcating the report number
and give it to the City Clerk prior to the beginning of the City Coundl meeting.
TO:
FROM:
INITIATED BY:
Honorable Mayor and Members of ~he City Council
James L. Bowersox, City Man~
Marjorie K. Wahlsten, Treasurer~
Peggy A. Stewart, Director of Adminiklrative servic~
Christine Tsung, Finance Manager~
June 30, 1992
DATE:
SUBJECT:
City's Investment Report
ABSTRACT
Monthly reports of investments are required to be presented to Council. For your
information, attached is an investment portfolio listing as of May 31, 1992.
BACKGROUND
Government Code S53646(b} requires the treasurer or chief fiscal officers to
make a monthly report that includes the type of investment, institution, date of
maturity, amount of deposit, current market value of all maturities that exceed
12 months and interest rate.
FINDINGS
The book value of the investment portfolio as of May 31, 1992 was $62,642,129.
This portfolio consisted of Time Certificates of Deposits (TCDs) which totaled
$1,271,000, Government National Mortgage Association Certificates (GNMAs) which
were booked at $1,737,326, a U.S. Treasury Note purchased for $497,969, Federal
Home Loan Mortage Corporation Certificates which were booked at $449,156,
Federal Agency issues of $1,000,000, medium-term Corporate Notes which were
booked at $7,204,316, U.S. Government Securities which are booked at $699,529,
deposits at the Local Agency Investment Fund (L.A.I.F) of $20,836,831, and
$28,946,002 invested through the San Diego County Investment Pool.
The TCDs are at 7 different financial institutions throughout the state. The
certificates are placed in $100,000 increments with the amounts in excess of the
first $100,000 collateralized as outlined by state law using either mortgages or
federal government securities.
ll, of6
ACTION:
JUN 3 0 1992 ITEM 13
Agenda Report - City's Investment Report
June 30, 1992
Page 2
The funds on deposit at L.A.I.F. earn a variable interest rate. The interest
rate for the month ending May 1992 was 5.357%.
FISCAL IMPACT
The investment portfolio earned $380,240.97 interest during May 1992.
PUBLIC NOTIFICATION AND CORRESPONDENCE
Standard distribution.
RECOMMENDATION
It is recommended that the City Council accept and file the attached reports.
JLB:MKW:PAS:CT:eg
Attachments: Investment Report (Including the new computer report which lists
all the investments for the City. It summarizes by type of
investment and lists market value and maturity dates for all
investments including those with maturity dates in excess of
12 months.)'
6/A/Report5 Report5.1
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,16/09/1991
CITY OF POWAY
POR1FOLIO MAS1!R SUMMARY
MAY 31. 1992
INVESTMENTS
BOOK VALUE
PERCEMT OF AVERAGE
PORTFOLIO TERM
Local Agenr.y Investlent Funds".. .,..,., ."..1 49.782,832,94
Certificates of Deposit"""...."..".,..,,1 1,271,000,00
Mortgage Backed Securities.".....,.,.,."",1 2,186,182,56
Treasury Securities. Coupon,..""",.....,.1 491,968,15
Medium Ten Motes,.......,......,....",....., 7,204,315,8\
Federal Agency Issues. coupon".,...".....,1 1,000,000,00
MIscellaneous Securities. coupon..,..,..,.,,1 699.529,20
79.47
2.03
3,49
0.79
11.\0
1.60
1.12
1
1,338
10,463
1.185
1.\\8
1. 453
1.821
AVERAGE
DA YI TO
NATURITY
I
1.2\\
8,561
1.111
9\0
735
153
PM .
POWA
---YIELD TO MATURITY-..
360 36\
iQUIVALENT EQUIVALENT
1.000
\,\60
8,2\8
8,484
8,\R8
8.014
1,890
1.091
\.651
8,313
8,601
8.m
8,125
8.000
..........--.---.----....--...--.-------------.--------.----------------
TOTAL IHVESTMEKTS and AVERAGES,.""".."..,I 62,642,129,30
loo,m
-------------------------------.--------------.-------------------------
------------------------------------------------------------------------
1.2\6!
CASH
Passbook/CheckIng Acr.ounts".. """". ",..,1 0,00
Inot included In yield calculations;
~r.cr1led Interest at Purchase.......... ,......I 119.264.50
630
457
7,156%
0.000
0.000
------------------------------------------------------------------------
TOTAL CASH,...., ........,.., ......... ........, 119,264.\0
------------------------------------------------------------------------
...----.--..-....----.....--------------..----..----------..----.---.---
TnTAL CASH and INVES~MEMTS". ,.'"" .." ... .,1 62,761.393.80
-...-..-----------.--------..-.------------.-----...--------------------
----------.-------.---------------..-------------------------..---------
!he City shall lnvest In only those Investments !uthorlzed by the State of
California under Governnent Code Sections 53601,1. 53602 ,od 5363\, Investments
shall be lade Ilslng the ~rIJdent man t.heory WIth consideratIon alven to the
follOWing items In order of ~rlority; ), Safety: 2. LiqUidity; J, YIeld.
PEGGY STEWART
". -;::; -~ L l i >
~ .
CHRISTIME TSUMG
-,7 L ,l..:':- I (I rit; 2
DATE
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06/09/1992 CITY OF Fom PM 0 2
IMVESTMENT PORTFOLIO DETAILS 0 INVESTM, POiA
MAY 31. 1992
INVESTMENT PURCHASE STATED nO YTM on MATURITY DF'
NUMm ISSUER DATE BOOK VALUE FACE mUE MARKET VALUE RATE 360 365 Dm TO
.-----.--.....--------..-.-----------..------...-----------------.....-.......-...--------...----...--...-------------------------
LOCAL AGENCY INVESTMENT FUNDS
040001 LAIF CITY OF POiAY 10.264.374.29 10.264.314.29 10.264.374.29 5,357 U84 5,317
040002 LAIr REDEVELOPMENT AGENCY 10,512,456.90 10,512.456,90 10,512.456,90 5.317 5.284 5,357
040004 SD CNTY INVST POOL 28.946.001.7528.946,001.7528.946.001.75 8.350 8.236 8.310
SUBTOTALS aod AVERAGES 49.182.832.94 49.782,832.94 49,182,832.94 7.000 1.097
CERTIFICATES OF DEPOSIT
010924 COMMUNITY THRIFT 6 LOAN 01107 !92 90.000,00 90.000.00 90.000,00 1.600 1.600 1.67807/07192 38
010915 COMMUNITY THRlrT 6 LOAN 01108192 90.000.00 90.000.00 90.000.00 UOO UOO 5,47\ 07108192 39
010926 FRANKLIN BANK 02121/92 9UOO.00 99.000,00 99.000.00 6.450 6,4\0 6,\40 02/21196 1.362
010927 FRANKLIN BANK 02121/92 99,000,00 99,000.00 99.000.00 6,450 6.450 6.540 02121/96 1.362
010930 FIRST REPUBLIC THRIFT 03110/92 99.000.00 99.000.00 99.000,00 6.500 6,500 6,\90 03/11/96 1,381
010933 INVESTOR THRIrT 6 LOAN 03121192 99,000.00 99.000,00 9UOO.00 1.210 1.110 1.310 03127/97 1,762
010934 INVESTOR THRIFT . LOAN 03/31192 99,000.00 99.000,00 99.000.00 7.060 7.060 7.1\803131/97 1.166
010931 RIVER CITY BANK 03/20/92 100,000.00 100,000.00 100.000.00 7.300 7.300 7.401 03120197 1.7\5
010932 RIV!R CITY BANK 03/20/92 100,000,00 100.000.00 100.000,00 1.300 7.300 7,401 03/20/97 1.755
010918 SACRAMENTO SAVINGS BANK 03/04/91 99.000.00 99.000,00 99.000.00 6.300 6.300 6.388 03104/96 1.374
010911 SACRAMENTO SAVINGS BANK 03/04/92 99.000.00 9UOO.00 99,000.00 6.100 6.300 6.388 01104/96 1.374
01093\ VALENCIA NATIONAL BANK 04123192 99.000,00 99.000.00 99.000.00 6.600 UOO 6.692 04/25/95 I. 060
010936 VALENCIA NATIONAL BANK 04123/92 99,000,00 99.000,00 99.000,00 UOO UOO 6.692 04/25/95 1,060
SUBTOTALS and AVERAGES 1.171,000.00 1.171.000.00 1.271.000.00 U60 6.651
MORTGAGE BACKED ,ECURITIES
080001 FRO HOMR LOAN MTG rORP 09117/86 47.294.58 50,179.43 50.081.52 8.000 8,784 U0608111106 5.190
080001 PRO HOME LOAN MTG CORP 04120/87 401,861.52 409.279.71 412,459,50 9.000 9,137 9.16! 05101116 8.7.37
081008 GNMA POOL 192832 04/20/87 848.965.66 813,231.82 843.899.60 8,000 7,958 U6904115117 9,086
081001 GII1!A POOL 203179 04/20/87 680,132.56 685,905.54 678,403.45 UOO 8.001 8,11' 041] 5117 9.086
081001 GNM~ POOL 13017 08111/86 208.028.24 216.696.08 214.325.97 8.000 8,501 8,621 08115106 5.l90
SUBTOTALS and AVERAGES 2.186.481.56 2.215.191.58 1.199.112.0! 8.258 8.373 8,567
TREASURY SarURITIES 0 COUPON
moo I 115 TRE~SURY NOTE 09125190 497,968.75 100.000,00 \37.031.15 8,500 8,484 8,601 0811 \ 195 1.172
MEDI!JH 1ERM NOTES
,190015 AMERICAN EXPRESS CO 05/12/89 196.918,00 200,000,00 211. 100,00 U21 8,177 9.00007')5194 776
OqOOn BENEFICIAL rORPORATION 01115/90 1.000.000,00 1. 000. 000. 00 1.049.190,00 UOO 8,971 UOO 01126(q\ 971
090032 EF 811TTON GROUP INC 06/11/91 493.631.00 100,000.00 120.000,00 8,R1\ U71 9,20105101196 1.432
09001' FORD MOTOR CREDIT COMPANY 05121189 199,176.00 200,000,00 109,m,00 8,81\ U4,l U660\11519! 715
0900); FORD MOTOR rREDIT COMPANY 03'14/90 500,000,00 100.000,00 124.195,00 UOO q, i 73 UOO 03115194 654
09001' GM,Ar OS/21/89 379,040,00 400.000.00 !Oo.ooo,on 7.750 u62 U8\ 10/01/94 8\4
090021 GMAC 02111190 1.000,000,00 !,Ooo, 000,00 1.026.110.00 9,000 un 9.00010121191 509
0900:1 ITT FINANCIAL CORP, 03111/91 499,000,00 500.000.00 527,175.00 8,900 8,838 1.96003101'" 1.005
090034 PHILL IP MORRIS 07126/91 m.m ,1\ 100.000,00 515,005.00 7.615 7,696 U0302l15194 ,26
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06/0911992
CITY OF POVAY
'---STMENT PORTFOLIO DETAILS . INVESTMENTS
MAY 31. 1992
PM. j
POVA
.llimTMENT
UMBER ISSUER
PURCHASE STATED on YTM on MATURITY DAYS
DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT
-.---------..---------------------------------------------------------------------------------------------------------------------
MEDIUM TERM NOTES
090035 PHILLIP NORRIS 03!26191 497,500,00 500.000.00 502,905.00 7,500 1,511 7.622 03115111 1.750
090030 RAINIER BANCORP 04!11/91 249,212,50 250,000.00 251,625.00 9.000 8,m 9.014 03!01/96 1.311
090011 SHKARSON LEHMAN 05!22/89 191.702,00 200,000.00 205.750,00 7.875 8.942 9.066 08!15/93 412
090036 TRAVKLERS CORP 05!14!92 500.000,00 500.000.00 500,615,00 7,625 1.511 7,61501115197 1.691
090016 WRSTINGHOUSE CRIDIT CORP, 01!15/90 500,000.00 500,000.00 511. m, 00 9.010 8.881 9.010 01!16/94 787
090031 VISTINGHOUSE CREDIT CORP, 05!11/91 500,000,00 500.000,00 504.350,00 8.010 7,900 8.010 05/18/94 118
SUBTOTALS aod AVERAGES 1.204,311.85 7.150,000.00 7,465,007.00 U88 8,707 950
FEDKRAL AGEKCY ISSUES . COUPON
061005 FEDERAL HOME LOAN BANK 01/25/89 500,000.00 500,000,00 503,125,00 U50 8,137 U5001/21!92 58
owol FEDERAL KAT'L MTG ASSN 04!29/91 500,000,00 500,000,00 520.000,00 8.000 1,890 8.000 04110/96 1.411
SUBTOTALS and AVKRAGKS LOOO,OOO,OO 1,000,000,00 L023,125.00 8,014 8,12\ 735
MISCELLANEOUS SECURITIES . COUPON
100001 US GOVKRNNENT FUND 10/30/S1 699,\29,20 699,\29,20 729 .009.91 8.000 7. 890 8.000 10/30/92 153
-------....--------------------------------------.----------------------.---------.
TOTAL INVKSTNENTS and AVERAGKS $ 62,642.129.30 62,118.65U2 63,001,178,14 U56\ 7.356~ 451
--------------------------------------------------------------------------------
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JUN 3 0 1992 ITEM 13
CITY OF pom
ACCRUED INTEREST DETAILS
MAY 31. 1992
?~. 4
POWA
06/0911992
NONTH ENDING
MAY 31. 1992
mCAL
YEAR TO DATE
CDfCoupon/Discount Investments;
Interest Collected
$
91.635.97
$ 1.097.673.46
204,416,34
PLUS Accrued Interest at End of Period
204.416,34
LHSS'Accrued Interest at Beginning of Period
226.594.161
249,31!.O21
Interest Earned durIng Period
$
73,458.15
I 1, 0 51.77R.18
.....-.......-.........--..
---------------
---------..-----
............---_..........
Mortgage Backed SecurIties;
Interest Collected
I
16,249.28
$ 191.64!.23
PLUS Accrued Interest at End of Period
5.919.31
5,959.31
LHSS Accrued Interest at Beginning of Period
1,09U61
14.706,331
Interest Harned during Period
$
15,109.03
182,8\4.21
-----..---...........-
--......--......-----
---------------
...............---..--..
LAIFIPassbookfCnecking Accounts;
Interest Collected
I 318,034.03
$ 2,171,816.31
FLUS Accrued Interest at End of Period
6,074.B61. 71
6,014.861.11
LESS Acerued Interest at Beginning of PerIod
I 6. 1 0!.222.0 1 1
I 6,111,421.'1\
Interest Harned during Period
291.673. H
12,m.m,41
--..------......-....
..--..---..............-
------............---
---------------
TOTAL Interest Harned during Period
lAO, 240, 97
I 3,1140928.46
----....--------..
...--............--......
--------------..
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