Item 21 - City's Investment Report
AGENDA REPORT SUMMARY
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~,
INITIATED BY:
Honorable Mayor and Members of the City Council
James L. Bowersox, City Mana~
Marjorie K. Wahlsten, City Clerk
Peggy A. Stewart, Director of Administrative Servic~Q)
Christine Tsung, Finance Manager c;N"J :'j~1'
T():
FROM:
DATE:
October 26, 1993
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 September 30, 1993.
-
ENVIRONMENTAL REVIEW
Environmental review is not required for this agenda item according to CEQA guidelines.
FISCAL IMPACT
,
The investment portfolio earned $286,664.85 interest during September 1993.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None
RECOMMENDATION
It is recommended that the City Council accept and file the attached report.
ACTION
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OCT261993 ITEM 21
AGENDA REPORT
CITY OF POW A Y
This report is included on the Consent Calendar. There wHl be no separate discussion of the report prior to approval by the
City Council unless members of the Council, staff or public request it to be removed from the Consent Calendar and
discussed separately. If you wish to have this report pulled for discussion, please fill out a slip indicating the report number
and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Honorable Mayor and Members of the City Council
FROM: James L. Bowersox, City Man~
INITIATED BY: Marjorie K. Wahlsten, City Clerk
Peggy A. Stewart, Director of Administrative Services
Christine Tsung, Finance Manager cnf0
DATE: October 26, 1993
SUBJECT: Citv's Investment Reoort
BACKGROUND
Government Code Sec. 53646(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 September 30, 1993 was
$56,407,243. This portfolio consisted of Time Certificates of Deposits (TCDs)
which totaled $1,875,000, Government National Mortgage Association Certificates
(GNMAs) which were booked at $1,423,615, a U.S. Treasury Note purchased for
$497,969, Federal Home Loan Mortgage Corporation Certificates which were booked
at $213,158, Federal Agency issues of $500,000, medium-term Corporate Notes which
were booked at $5,884,301, U.S. Government Securities which are booked at
$2,449,529, deposits at the Local Agency Investment Fund (LAIF) of $2,992,197,
and $40,571,474 invested through the San Diego County Investment Pool.
The TCDs are at 10 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.
The funds on deposit at LAIF and the San Diego County Investment Pool earn
variable interest rates. The interest rate for the month ending September 1993
was 4.334% for LAIF and 5.60% for the County Investment Pool.
ACTION:
2 of 7
OCT 2 61993 ITEM 21 ' .
Agenda Report
October 26, 1993
Page 2
ENVIRONMENTAL REVIEW
Environmental review is not required for this agenda item according to CEQA
guidelines.
FISCAL IMPACT
The investment portfolio earned $286,664.85 interest during September 1993.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None
RECOMMENDATION
It is recommended that the City Council accept and file the attached reports.
JLB:MKW:PAS:CT:eg
Attachments: Investment Report (Including the new computer report which lists
all the investments for the City. It is summarized by type of
investment and lists market value and maturity dates for all
investments including those with maturity dates in excess of
12 months.)
c:\ WPFILESl \INVEST.RPT
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OCT 26 1993 ITEM 21' .
CITY OF POWAY
PORTFOLIO MASTER SUMMARY
SEPTEMBER 3D, 1993
PM-
POWA
10/06/1993
INVESTMENTS
PERtENT OF AVERAGE
BOOK VALUE PORTFOLIO TERM
AVERAGE
DAYS TO
MA TUR I TY
--.YIELD TO MATURITY...
360 365
EQUIVALENT EQUIVALENT
Locsl Agency Invsstment Funds................S 43,563,670.74 77.23 1 1 5.437 5.513
Certificates of Deposit......................S 1,875,000.00 3.32 1,614 1,106 6.584 6.675
Mortgage Backed Securities...................S 1,636,m.76 2.90 10,481 8,098 8.168 8.281
Treasury Securities - Coupon.................S 497,968.75 0.88 1,785 685 8.484 8.602
Medhlll Term Notes............................S 5,884,301.35 10.43 1,531 481 8.518 8.636
Federsl Agency Issues - Coupon...............S 500,000.00 0.89 1,808 924 7.890 8.000
Miscellaneous Securities - Coupon............S 2,449,529.20 4.34 991 350 6.747 6.841
------------------------------.-----------------------------------------
TOTAL INVESTMENTS sod AVERAGES...............S 56,407,242.80
100.00%
593
3S2
5.982%
6.065%
==~..........==.==========.=..==...=.==========.===..=c=========......==
CASH
Passbook/Checking Accounts...................$
(not included in yield calculations)
Accrued Interest at Purchase.................S
0.00
0.000
0.000
106,878.11
TOTAL CASH...................................S
106,878.11
=..................=..............=======.............=====---.........=
TOTAL CASH snd INVESTMENTS...................S 56,514,120.91
.................................====.====.=.......===========........==
- --------.",
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PEGGY STEWART CHRISTINE TSUNG
<9 imJ11l1
The City shall invest in only those investments authorized by the State of
California under Government Code Sections 53601.1, 53602 and 53635. Investments
shall be made using the prudent man theory with consideration given to the
following items in o~r of priority: 1. Safety: 2. Liquidity: 3. Yield.
/1'"') ._ ~$ - (??
DATE
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OCT 2 6 1993 ITEM 21
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10/06/1993 CITY OF POWAY PM - 2
INVESTMENT PORTFOLIO OETAILS - INVESTMENTS POl/A-
SEPTEMBER 30, 1993
INVESTMENT PURCHASE STATED _u YTM _u MATURITY DAYS
NUMBER ISSUER OATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 OATE TO MAT
----..-------------------------.---.------.-.-------------------------------------------------------------------------------------
LOCAL AGENCY INVESTMENT FUNDS
040001 LAIF CITY OF POWAY 1,857,011.04 1,857,011.04 1,857,011.04 4.334 4.275 4.334
040002 LAIF REDEVELOPMENT AGENCY 1,135,186.29 1,135,186.29 1,135,186.29 4.334 4.275 4.334
040004 SO CNTY I NVST POOL 40,571,473.41 40,571,473.41 40,571,473.41 5.600 5.523 5.600
SUBTOTALS and AVERAGES 43,563,670.74 43,563,670.74 43,563,670.74 5.437 5.513
CERTIFltATES OF OEPOSIT
010926 FRANKLIN BANK 02/21/92 99,000.00 99,000.00 99,000.00 6.450 6.450 6.540 02/21/96 875
010927 FRANKL! N BAlIK 02/21/92 99,000.00 99,000.00 99,000.00 6.450 6.450 6.540 02/21/96 875
010939 FRANKLIN TNRIFT & LOAN 01/01/92 94,000.00 94,000.00 94,000.00 6.500 6.500 6.590 07/07/97 1,377
010940 FRANKLIN THRIFT & LOAN 07/07/92 94,000.00 94,000.00 94,000.00 6.500 6.500 6.590 01/07/97 1,377
010930 FIRST REPUBLlt THRIFT 03/10/92 99,000.00 99,000.00 99,000.00 6.500 6.500 6.590 03/11/96 894
010943 IMPERIAL THRIFT 08/17/92 99,000.00 99,000.00 99,000.00 6.250 6.250 6.337 08/18/97 1,419
010944 IMPERIAL THRI FT 08/17/92 99,000.00 99,000.00 99,000.00 6.250 6.250 6.337 08/18/97 1,419
010933 INVESTOR THRIFT & LOAN 03/27/92 99,000.00 99,000.00 99,000.00 7.210 7.210 7.310 03/21/97 1,275
010934 INVESTOR THRIFT & LOAN 03/31/92 99,000.00 99,000.00 99,000.00 7.060 7.060 7.158 03/31/97 1,279
010931 RIVER CITY BANK 03/20/92 100,000.00 100,000.00 100,000.00 7.300 7.300 7.401 03/20/97 1,268
010932 RIVER CITY BANK 03/20/92 100,000.00 100,000.00 100,000.00 7.300 7.300 7.401 03/20/97 1,268
p-'>2B SACRAMENTO SAVINGS BANK 03/04/92 99,000.00 99,000.00 99,000.00 6.300 6.300 6.388 03/04/96 887
29 SACRAMENTO SAVINGS BANK 03/04/92 99,000.00 99,000.00 99,000.00 6.300 6.300 6.388 03/04/96 887
010937 SARATOGA NATIONAL BANK 06/03/92 99,000.00 99,000.00 99,000.00 6.500 6.500 6.590 06/03/96 978
010938 SARATOGA NATIONAL BANK 06/03/92 99,000.00 99,000.00 99,000.00 6.500 6.500 6.590 06/03/96 978
010941 TRANS PACIFIC NATIONAL BANK 08/12/92 100,000.00 100,000.00 100,000.00 6.250 6.250 6.337 08/12/97 1,413
010942 TRANS PACIFlt NATIONAL BANK 08/12/92 100,000.00 100,000.00 100,000.00 6.250 6.250 6.337 08/12/97 1,413
010935 VALENCIA NATIONAL BANK 04/23/92 99,000.00 99,000.00 99,000.00 6.600 6.600 6.692 04/25/95 573
010936 VALENCIA NATIONAL BANK 04/23/92 99,000.00 99,000.00 99,000.00 6.600 6.600 6.692 04/25/95 573
SUBTOTALS and AVERAGES 1,875,000.00 1,875,000.00 1,875,000.00 6.584 6.675 1,106
MORTGAGE BAtKED SECURITIES
080001 FED HOME LOAN MTG CORP 09/17/86 38,916.21 41,290.00 43,3n.68 8.000 8.784 B.906 08/15/06 4,703
080003 FED HOME LOAN MTG CORP 04/20/87 174,241.38 177,457.80 187,681.14 9.000 9.137 9.264 05/01/16 8,250
081008 GNMA POOL 192832 04/20/87 778,563.03 782,475.41 829,752.57 8.000 7.958 8.069 04/15/17 8,599
081007 GNMA POOL 203379 04/20/87 488,981.23 492,986.75 522,m.Ol 8.000 8.001 8.11204/15/17 8,599
081001 GNMA POOL 13057 08/11/86 156,070.91 162,573.86 174,623.83 8.000 8.503 8.621 08/15/06 4,703
SUBTOTALS and AVERAGES 1,636,m.76 1,656,783.82 1,758,203.23 8.168 8.281 8,098
TREASURY SECURITIES - COUPON
070001 US TREASURY NOTE 09/25/90 497,968.75 500,000.00 541,875.00 B.500 8.484 8.602 08/15/95 685
MEDIUM TERM NOTES
090015 AMERICAN EXPRESS CO OS/22/89 196,918.00 ZOO,OOO.OO Z06,8Z0,OO 8.6Z5 8.877 9.000 07/15/94 Z89
~Q22 BENEFltlAL CORPORATION 01/25/90 1,000,000.00 1,000,000.00 1,064,080.00 9.100 8.975 9.100 01/26/95 484
J32 EF HUTTON GROUP INC 06/17/91 493,635.00 500,000.00 540,860.00 8.875 9.075 9.201 05/01/96 945
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OCT 2 6 1993 ITEM 21
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CITY OF PQWAY
INVESTMENT PORTFOLIO DETAILS - INVESTMENTS
SEPTEMBER 30, 1993
PM - 3
POI/A
INVESTMENT
NUMBER ISSUER
PURCNASE
DATE
BOOK VALUE
STATED --- YTM --- MATURITY DAYS
FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT
~-_._._---------------------------------------------------------------------------------------------------------------------------
MEDIUM TERM NOTES
090013 FORD MOTOR CREDIT COMPANY OS/22/89 199,276.00 200,000.00 206,On.00 8.875 8.843 8.966 05/15/94 228
090024 FORD MOTOR CREDIT COMPANY 03/14/90 500,000.00 500,000.00 513,750.00 9.300 9.173 9.300 03/15/94 167
090023 GMAC 02/14/90 1,000,000.00 1,000,000.00 999,900.00 9.000 8.877 9.000 10/21/93 22
090027 ITT FINANtlAL CORP. 03/11191 499,000.00 500,000.00 528,570.00 8.900 8.838 8.960 03/01/95 518
090034 PHILLIP MORRIS 07/26/91 497,9n.35 SOO,OOO.OO 506,230.00 7.625 7.696 7.803 02/15/94 139
090035 PHILLIP MORRIS 03/26/92 497,500.00 500,000.00 537,070.00 7.500 7.517 7.622 03/15/97 1,263
090036 TRAVELERS tORP 05/14/92 500,000.00 500,000.00 530,625.00 7.625 7.521 7.625 01115/97 1,204
090031 WESTINGHOUSE CREDIT CORP. OS/17/91 500,000.00 500,000.00 512,030.00 8.010 7.900 8.010 05/18/94 231
SUBTOTALS and AVERAGES 5,884,301.35 5,900,000.00 6,146,007.00 B.518 8.636 481
FEDERAL AGENCY ISSUES - COUPON
061007 FEDERAL NAT'L MTG ASSN 04/29/91 500,000.00 500,000.00 511,940.00 8.000 7.890 8.000 04/10/96 924
MIStELLANEOUS SECURITIES - tOUPON
100002 US GOVERNMENT FUND 10/30/87 699,529.20 699,529.20 774,460.89 8.000 7.890 8.000 10/30/94 396
100003 US GOVERNMENT FUNO 07122/93 500,000.00 500,000.00 507,047.77 6.500 6.411 6.500 07/22/94 296
100004 US GOVERNMENT FUND 08/13/93 200,000.00 200,000.00 200,775.19 6.500 6.411 6.500 08/14/94 319
100005 US GOVERNMENT FUND 08/24/93 250,000.00 250,ooli.00 250,193.20 6.500 6.411 6.500 08/24/94 'Q
100006 US GOVERNMENT FUND 09/10/93 300,000.00 300,000.00 298,158.09 6.200 6.115 6.200 09/10/94 ci
100007 US GOVERNMENT FUND 09/28/93 500,000.00 500,000.00 498,076.92 6.250 6.164 6.250 09/28/94 364
SUBTOTALS and AVERAGES 2,449,S29.20 2,449,529.20 2,528,712.06 6.747 6.841 350
-----------------------------------------------------------------------------------
TOTAL INVESTMENTS and AVERAGES S 56,407,242.80 56,444,983.76 56,925,408.03 5.982:1 6.065:1 352
===s=======================z=========z==========================================
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DCT261993 ITEM 21
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CO/CouponlD;scount Investments:
Interest Collected
PLUS Accrued Interest at End of Period
LESS Accrued Interest at Beginning of Period
Interest Earned during Period
Mortgage Backed Securities:
Interest Collected
PLUS Accrued Interest at End of Period
LESS Accrued Interest at Beginning of Period
tnterest Earned during Period
LAIF/Passbook/Checking Accounts:
Interest Collected
PLUS Accrued Interest at End of Period
LESS Accrued Interest at Beginning of Period
Interest Earned during Perfod
TOTAL Interest Earned during Period
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CITY OF POlIAY
ACCRUED INTEREST DETAILS
SEPTEMBER 30, 1993
MONTH ENDING
SEPTEMBER 30, 1993
s
85,406.09
176,006.32
191,227.82)
s
70,184.S9
=asa.==========
s
11,513.33
23,707.21
24,028.00)
s
11,192.S4
...=========:==
s
238,3n.48
6,137,346.03
6,170,430.79)
s
205,287.n
===============
s
286,664.8S
===============
PM. 4
POlIA
FISCAL
YEAR TO DATE
s
209,801.26
176,006.32
180,140.34)
s
205,667.24
===============
s
35,763.93
23,707.21
24,794.97)
s
34,676.17
===============
$
737,297.19
6,137,346.03
6,254,682.61)
s
619,960.61
===============
s
860,304.02
===============
OCT 2 6 1993 ITEM 21'"