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HomeMy WebLinkAbout0112.091, ~. January lO, 1991 THE HONORABLE CITY COUNCIL Palo Alto, Califoroia III'I£STllEIlT ACTIVITY REPORT FOR DEmBER UP!! Members of the Council: ,- Tbis is an information report and no Co~ncil letian is necessary. IHTEI!EST INCOIIE Inte",t fncome (cash ~slsl for the month of December was $909,437 and for the first six ""nths of 1990-91 totalled 54.9 _ill lan, 56 percent of the .nnual target of $S.8 .illion. CURRENT POgTFQlIO The par .aloe of the City's portf.Ho is appro<imately S1I6 million, which consists of $74~O million, or 64 percent, maturing wit"in two yeus. Most (If the investments, .$98.4 mill ion, .or 85 percent, are in United States Government Securjties. The current market value of the portfolio is 101.3 percent of co~t. COMPLIANCE WITH INVESTMENT Pot ley As of Oe-ctllber 31. 1990, the 'investment portf<l1io was in compliance with all e1ements of the c.ity's investment policy. In Januarj' 1951 projections indicate receipts will b. $17.7 eilllon; expenditures will b. Sll.8 million; and $IS IIIi1Hon Df fnvestments. will mature. On the basi s Df the above projection, there ~11 be sufficient funds tc meet Palo Alto's expenditure requirements for the eonth of January. Based upon the cash flow projections prepared by Treasury staff for fiscal year 1990-91, there will be sufficient funds from revenue; and .. turing investments to aeet all expenditure requirements for t~e remainder of t~. fiscal year. J Jib·. J FLE NG . ssistant City a ag~r Respectfully SUbmitted, --ra ~./ ..... ~I#-.R .dtuwU soRfiiiNB:"FORO L Y HAAAI SON Treasury Manager Fi~ance Dfrector OO:11Z:91 • G " Page I of 5 P.EPORT OF INVESTllEllTS DECOUIEIl 31. 1990 Par Aioount 12/31/90 1990-91 lillO/gO BY IlATU1UU (10 I !lil] ;Qn~l !!il Ilrggt m Wtt~in I IIOnth $ 18.00 15.5 > $6 14.0 1-3 "",nths 7.00 6.0 7.0 3-6 IIOnth. 9.00 7.7 8.1 6-9 IIOnth. 4.00 3.4 3.4 9-12 IIDnth. 2.00 1.1 3.0 1-2 years ll...Q2 Z2..l JI...Q Withl. 2 years 74.00 63.6 ) $35 63.1 2-5 years 3'_05 31.8 32.2 5-10 years 3.30 2.8 2.9 10-20 y .... 1.25 1.1 1.1 20-30 year, -----...R _._7 -----1. Over 2' years 42.42 36.4 36.9 TOTAL 116.42 100.~ IO~ IOO.~ IlY lll!£ Of INVUI!!OO Local Agency lnvest .. nt Fund 10.00 8.6 B_1 Mutual Fund 1.00 .9 .5 Certificate, of Deposit: Collateralized 7.00 6.0 4.3 City of Pal. Alt. Bonds .05 .1 .1 Certificate of Participation .00 .0 .4 U.S. Tre.sury 52.50 45.1 45.1 U.S. Agency !UI 39.4 ~ TOTAL 116.42 IOO.~ 1O~ 10O.~ Market Yalue/C.st S111.B/1l6.3 IOI.~ > . 95:1; IOI.~ CIIR:llZ:91 < Page 2 of 5 REPORT Of IIIVESTIIENTS DECEMBER 31, 1990 Purch ... Interest Maturity Par Market Unrealized Price Pe.lod ~ R.t. __ Illli.... ~ ~ Gain (Loss) Balane. farninus INVESlIlENTS Local AGency l"nsWnt fynd (8,59;1 ~J> LAIF 8.29 01-01-91 10,000,000 10,000,000 10,000,000 Mutual Fund (0.8~ Fidelity Invostment. 8.10 OJ-OI-91 500,000 500,000 500,000 3,058 'rlnklln Innst..nts 7,11 01·01-91 ~~ ~ .m..l!Ol! .JZ§ 1,000,000 1,000,000 1,000,000 3,684 ~1[tl{I'~.J ~f DIR9~!t (I.QI~1 Grelt Mo.tlrn (Collatoral) 8,10 01·07·91 2,000,000 li'~'t< .1\ ' 2,000.000 2,000,000 Fld.llty Federal !eOllltorall 7,95 03-04-91 2,000,000 2,000,000 2,000.000 )'I't'S, Fld.llty Federal Collateral 8.00 04-23-91 3,QQ2.2QQ JoOQQ,QQQ .J~.Q ...I.L..3.ll 7,000,000 7,000,000 7,000,000 H,m :'::) '. 1:~:~T'~sy~~'::.;:"-:":';; . .. 'al0 Alto I~Dro~nt.Bondt-~ " Serl •• P 10.95 07-02-93 55,000 55,000 55,O~0 Y.~. Itll~M[1 '~5,Q~~1 , Ili~':'!"i""V": ;" , " Treasury Notes; 9.00 01-31-91 3,000,000 2,970,703 2,970,703 -til ~\}'5,:,-l':,:,,~~':,:,,:'> N!,:,' '_ ",', Treasury Notes 9,38 02-28-91 I,OOO,OGO 997,950 ~97,9~O CM8:112:91 . '., REPORT OF IHVESTMMS Pig! 3 of 5 DECEMBER 31, 1'90 Purch ... Intore.t Maturity Par Market Unreal 1 zed Pr1ce Period ~ --'!U.e Dltc WJIt Y.IlJiL ~.ln ILml B.i.l.In'L. lAI:IIJ.ll9l u.s. Tre •• ur. (ContInued) Tr ••• ury Notes 9.75 03·31·91 2,000,000 1,997,813 1,991,813 Treasury Notos 1.75 11-30-91 2,000,000 2,005,625 2,005,625 Treasury Notes 8.13 01-31-92 6,000,000 6,062,000 114,266 5,941,134 @ Treasury Notes 8.50 02-29-92 2,000,000 2,029,000 26,187 2,002,813 Tre •• ury Notes 8.50 03-31·92 4,000,000 4,063,000 74,094 3,988,906 Treasury Not.s 8.38 06-30-92 7,000,000 7,114,000 99,547 7,014,453 272,984 Treasury Notes B,25 08·15-92 3,000,000 3,045,000 61,969 2,911,031 Tr.asury Notes B.38 11·15·92 2,000,000 2,039,000 29,625 2,009,375 Treosury Notes 8.75 01-15-93 2,000,000 2,O~7,OOO 47,000 2,010,000 Treasury Notes B.2S 02-15·93 4,500,000 4,586,000 76,625 4,509,375 Treasury Nobs 8.13 06·30·93 3,000,000 3,052,000 36,062 3,015,938 99,686 Tr ... ury Not.s B.OO 08·15·93 7,000,000 7,096,000 107,875 6,98B,I25 Treasury Notes 8.25 09·30-93 ~,QQQ,QQQ M~~,QQ2 ..u..o§2. !.m.2lB 52,500,000 53,198,091 726,312 52,471,119 372,610 I'" \1.5. AGENCY (39.m} I' ' FHLB 9.30 01·25·91 2,000,000 2,000,000 2,000,000 FNPIA 7,65 02·11·91 2,000,000 2,000,000 2,000,000 0 FNPIA 7.20 04·10·91 1,000,000 1,000,000 1,000,000 FHLB 7.BB 05·27·91 4,000,000 4,012,500 4,012,500 FNMA B.55 06·10·91 1,000,000 1,000,000 1,000,000 42,750 FNMA 8.40 08·12·91 1,000,000 1,000,000 1,000,000 FHLB 7.20 08·26·91 2,000,000 2,OlB,750 2,018,150 FHLB 7.40 09·25·91 1,000,000 1,000,000 1,000,000 FHLB B,B5 03·25·92 2,000,000 2,040,000 40,000 2,000,000 FNMA 8.45 05·11·92 2,000,000 2,033,000 33,000 2,000,000 FNMA B.45 07·10·92 2,000,000 2,033,000 33,000 2,000,000 FHLB B.60 08·25·92 1,000,000 1,019,000 19,000 1,000,000 CMR:1IZ:91 I""ii""" , , A,,,,, '~/ ' -'t~V'-h~' ; '-!~ ~ \::i:~' ;':",'::,.-'.';~: ;'.-~ , '~i' • , ·~~;~_C"l.;-;,~.';",-:.-:·;·-,- • REPORT Of INVESTMENTS DECEMBER 31, 1990 Interest Maturity Par Markot Unrealized ~ ~At!l gilie WlIi Y.il.lIL. Ylln .. LI.wl U.S. A&EMCY (Continued) FHLB 9.05 12-28·92 3,000,000 3,094,000 79,000 FNMA 7.95 02·10-93 2,000,000 2,021,000 21,000 SLMA 10.50 04-22-93 1,000,000 1,062,000 62,000 FNMA 10.75 05-10-93 1,000,000 1,070,000 139,063 FHL8 10.75 05-25-93 1,000,000 1,071,000 72,875 FHlB 7.7S 07-26-93 1,000,000 1,006,000 7,250 FHlB 7.45 08·25-93 2,000,000 1,998,000 (2,000) FHlB 7.95 09-27-93 1.000,000 1,010,000 18,125 FHl8 12.15 12-27-93 2,500,000 2,801,000 363,500 FHLHC (I) 8.80 08-28-95 2,000,000 2,018,000 18,000 FHlB (b) 7.95 12-26-95 3.000,000 2,992,000 (8,000) FNMA 7.60 01·10-97 2,000,000 1. 943,000 (59,813) FLB 7.35 01·20-97 500,000 476,000 (24,000) FHMA 7.40 10-01-97 400,000 379,000 17 ,125 TVA 7.35 04-01-98 400,000 379,000 (21,OOOl FNHA 8.20 07-10-02 500,000 478,000 (22,000 FHlMC (PU) 10.00 02-01-09 493,293 511,000 34,113 FHLMC (PU Sem·I·Annually) 12.45 09-15·09 255,000 287,000 13,375 , .'-', GNMA (PAl) 9.00 11-15-16 ......8li.§l1 m,QQQ m,~~§) 45,867,970 46,567,250 798,017 . ' Matured and SQld lnyestments ',,'" Great Western (Collateral) a.2S 12-03·90 East Palo Alto Sanitary District (c) 8.70 10·01-91 FHItA 11.80 12-10-90 FHlB (d) 9.35 12-26-90 ----- TOTAL INVESTMENTS (IOOX) $1I~,422,970 $117,820,341 $1,524,329 (PU) Princip.l and Interest payments monthly. Investments with maturities of less than one year are valued at cost. Purchases since last report are shown in bold type. ( a) FHlMC has a ono-yoar c.llable option. ( b) FHlB has a three·y •• r callable option. (c) [PASO paid off tho Certificate of PartiCipation on 12-19·90. (d) FHlB _aturlng 12-26·90 earned $140.250 in Interest, plu, S1,875 In purchaso prom;" •• CMR;1l2:91 Purchase Price Balance 3,015,000 2,000.000 1,000,000 930,937 998,125 998,750 ~.OOO,OOO 991,875 2,437,500 2,000,000 3,000.000 2,002,813 500,000 361,875 400,000 500,000 476,887 273,625 ~..lli 45,769,233 $116,296,012 .. ' Page 4 of 5 PeriOd [ltllJJ1i1 135,750 Q 151,825 4,137 ....§..ill 340,617 917) 8,591 - 29,500 ill..ill $909,437 , , , . . .)-. '. ~,.:> {:\~.~; ,. \'. , . " \ • , Interest Inc .... Effectl •• Annual Rate of Retu,"" On In •• staonts 00: 112;91 6) 0 lIork llnll S IIfTERfST INCIlfIE (CASH BASIS) DECEMBER 31. 1990 lncre.ase To Oate To Oate (Decr .. ,o) 1989·90 mO-91 1990-91 4.6<11,310 4,901,981 220,671 9.09 B.78 ( .11) Pago 5 of S " Of Target Target To oate B,BOO,OOO 55.70 8_20 107.07