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HomeMy WebLinkAbout0152.0911 February 14, 1991 ]HE HONORABLE CITY COUNCIL P.l. Alto, C.llforD~' INYESTNEHT ACTIVITY .[PORT FOR JAMYARY 1991 Meobers of t~. Council; -.. -- This is an fafoMiation report a~d no Council action ;s necessary. I!!TEaEST I !fC!!!!E Interest InCOD< (cash basis) foc tne month of January was 11,130,026 and for the fir.t seven oont~$ of 1990-9! totalled 56.0 million, 69 percent of the annual target of 58.8 .illlon_ CURRENT PORTFOlIO The: par 'u,lL1e of tfte City's portfolio is approximilt~1y $116 million, which c:on5ists of S71.6 million. or 62 pertent, lIaturing within two years. MO'st of the fnyest~rlts, S97.4 lIillion, or 84 percent, Ire in United States Government Securities, Tne current market value of the portfolio lS 10),4 percent of cos.t. COMfl, IAHCE !11TH 1 NYEST!!ENT PIlL! CY As of JaniJary 31. 199]. the investment portfol io was fn compliance wit" all tleaents of the City~s i~vesL~nt policy. In February ]991 projectfons indicate receipts will be $14.5 millien; e.penditures will b. S12.1 million; and 113.6 .i1110n of investments will mature. On the basis of the ibove projectiDn, t~ere will be sufficient funds to meet Palo Alta's expenditure reqUirements for the IklnU of Februilry. Based upon the cash flow projections prepared by Treasury staff for fiscal year 1990-91, there will be sufficient funds frem reyenu.s and aaturinq investments to meet all expenditure requirements for tne remainder of the flse.l y.ar. at.peetf.lly submitted, &~hJ'$,~.£ C.~1~1>· GOiUlOI4 B. FORD E~1l Y HARRISON Trels~ry Nanager finance Director ClIR;152:91 • -" : Pige 1 of 5 REPORT OF INVESTMENTS JANUARY 31. 1991 Par Amount 01/31/91 1990·91 12/31/90 (I n S Mi11iMU {'l} BY I!AIlJRJTY Iit9r:i: "I Within I ""'nth S 13.60 11.1 > S6 15.5 1·3 ""'nt~s B.OO 5.9 6.0 3·6 months 8.00 6.9 7.7 6·9 lnD.ths 4.00 3.4 3.4 9·12 II10nths 8.00 6.9 1.7 1·2 years ~ llJ. ~ Within 2 ye.rs 71.50 61.1 > S35 63.6 2-5 years. 39.05 33.7 31.8 5-10 YEars 3.30 2.B 2.B 10·20 ye.r. 1. 2S 1.1 I.J 20·30 yeors ~ --..J. .......l Over 2 years 44.42 3B.3 36.4 TOTAL 116.02 100.0% 100% 100.0% BY Up[ Of INVEH!!m lotal Agency Inyost ... t Fund 10.00 B.6 B.6 ""tul1 fund .SO .5 .9 Certificotes of Ceposit: Col literali zed 8.00 6.9 6.0 City of Polo Alto Bonds .06 .1 .1 U.S. Trnsur1 51.50 44.4 45.1 U.S. Agency !bH 39.5 39.4 TOTAL 116.02 100.0% 100% 100.0% Market 'ol.e/Co.t sm.5/)l5.9 101.411 > 95\ 101.3,; C!4R:152:91 A REPORT OF INYESTMEllTS Pa,. 2 of 5 ~AMlARY 31, 1991 PlIl'ChlSe Int@.e$t Matu.lty P •• MI.tet Unrellized P.lce I'lI.led JIIIIW: Blig INVESTMENTS ~Il! Y.lI.!It y.t.llI! GilD ILml Ballnc. [ • ...,1 ... L~I ~ •• ncx 11l!!!lt-t fl!n~ (§.tZlI LA/F 8.17 02-01·91 10,000,000 10,000,000 10,000,000 206,345 ""t~.1 fl!D~ ,g.~2S1 Fidelity In.o$t .. nt. 7.03 02-01-91 500,000 500,000 500,000 3,074 Franklin In.o.t .. nt. 6.93 02-01-91 ~ l.Q!W!!!!l lW.J!!!O Llli 600,000 600,000 600,000 4,089 : .-';';.i lIt:· Cott!!l OOi 2! P.tRlll j t U. 9~1 ,'.:, Fidelity feder.l (Collate •• l) 7.95 03-04-91 2,000,000 2,000,000 2,000,000 22,967 Fld.llty Fede •• l le.ll.tor.ll B,OO 04-23-91 3,000,000 3,000,000 3,000,000 41,333 &I.ndal. Fade •• ' Col I ater.l 7,65 07-01·91 3.ooo,Q!lQ 3.ooo,11W 3.000.000 8,000,000 8,000,000 8,000,000 64,lOO ~Ilg ft!1g III'gX!!IDl 12D~1 I,05~) Serle. P 10.95 07-02-93 55,000 55,000 55,000 3,011 1M. I •• ai~tx (4!.~i!ll1 Treasury Notes 9.38 02·28-91 1,000,000 997,950 997,950 Tr@.I!ISt1t.y Notes 9,75 03-31-91 2,000,000 1,997,813 1,997,813 T.o .. u.y Notes 7.75 11·30-9/ 2,000,000 2,005,625 2.005,625 CMR: 152:91 Pige J of 5 REPORT OF INVESTMENTS JANUARY 31, 1991 Purchase Interest Maturity Par Market Unrealized Price Pe.lod ~ Ritc Dlt~ hl.III .'W.iIL. Gal. ILo>s1 Salanc. EarnirlQs 1l..h.Jt.!U.IItY (Continued) Tr • .sury Notes 8.13 01-31·92 6,000,000 6,062,000 5,947,734 243,750 T ..... ry Hot.s 8.50 02·29·92 2,000,000 2,033,000 30,187 2,002,813 Treasury Notes 8.50 03·31·92 4,000,000 4,071,000 82,094 3,98e,906 Trel5ury Hot.s 8.38 06·30·92 7,000,000 7,129,000 114,547 1,014,453 Tr@lsury Notes 8.25 08·15·92 3,000,000 3,052,000 74,969 2,977,031 TreiSury NotE'S 8.38 11·15·92 2,000,000 2,042,000 32,625 2,009,375 Treasury Nates 8.75 01·15·93 2,000,000 2,060,000 50,000 2,0]0,000 87,500 Treasury Notes 8.25 02·15·93 4,500,000 4,597,000 B7,625 4,509,375 Treasury Not@s B.13 06·30·93 3,000,000 3,062,000 46,062 3,015,938 Tr~asl,l\'·y Not~$ 8.00 08·15·93 7,000,000 1,125,000 136,075 6,988,125 Treisury Notes 8.25 09·30·9:) 4,000.000 4.098,00 62,062 4.035,938 Tr •• sury Notes 7.75 1I·IS·93 ~ 2.024,000 --.-nJ! Z.023.125 51.500.000 52.242,122 717.921 51.524,201 331.250 ~~HCY (39,53%) I' FNMA 7.65 02·Il·91 2,000,000 2,000,000 2,000.000 ..• -0/...-., FNHA 7.20 04·10·91 1,000,000 1,000,000 1,000,000 FHLB 7.88 05·27·91 4,000,000 4,012,500 4.012.500 FNMA 8.55 06·10·91 1,000.000 1.000,000 J .000.000 FNMA 8.40 08·12·91 1,000.000 i ,000,000 1,000,000 FHLB 7.20 08·26·91 2,000,000 2,018,750 2,018,750 FHLB 7.40 09·25·91 1,000,000 1,000.000 1,000,000 FHLB 8.85 03·25·92 2,000,000 2,044.000 44,000 2,000.000 I' :;:·-:'-;~·,i1_"';{):'\ -'; ." I" FNMA B.45 05·11·92 2,000.000 2.036,000 36,000 2,000,000 _n ' '::'/' ~.'i. FHMA 8.45 07·10·92 2.000,000 2,035,000 35,000 2,000.000 84.500 FHLB 8.60 08·25·92 1.000,000 1,020,000 20,000 1,000,000 FHLB 9.05 12·28·92 3,000,000 3,095,000 80,000 3,015.000 FNHA 7.95 02·10·93 2.000,000 2.028,000 28,000 2,000,000 CHR:152:91 "fl(.;':':';:;;':~" , "'~':"""" <-lh~ H·i~J<:',");·,' .', --, J ;., REPORT OF INVESTMOOS d~RY 31, 1991 Intere.t M.tu~lty Par Market Unrullzed .5ll!Illi U.S. AGENCY (Continued) . ...R.t. Qlk... ~ Y.lill.. iJ1D Uml SLMA 10.50 04·22·93 1,000,000 1,063,000 63,000 FIlMA 10.75 05·10·93 1,000,000 1,070,000 139,063 FHLB 10.75 05-25·93 1,000,000 1,071,000 n,B75 FHLB 7.75 07·26-93 1,000,000 I,007,OeO 8,250 FHL8 7.45 08-25·93 2,000,000 2,002,000 2,000 FHl8 7.95 09·27-93 1,000,000 1,012,000 20,125 FHL8 (f) 12.15 12-27·93 2,500,000 2,79B,OOO 360,500 FHLJ 7.55 01-25-94 2.000.000 2.006,000 2,875 FHLMC (I) B.80 08·28-95 2,000,000 2,013,000 13,000 FHlB (b) 7.95 12-26-95 3,000,000 3,011,000 11,000 FNMA 7 .60 01-10·97 2,000,000 1,964,000 (38,813) FL8 7.35 01-20-97 500,000 485,000 (15,000) FNMA (e) 7.40 10·01-97 400,000 381,000 19,125 nA 7.35 04·01·98 400,000 3BI,OOO (19,000) FNMA (d) 8.20 07·10-02 500,000 480,000 (20,000) FHLMC (PII) 10.00 02·01·09 493,293 512,000 37,952 FHlMC (PII Semi·Annually) 12.45 09-15·09 255.000 287.000 13,375 GNMA (P&I) 9.00 11-15-16 81'1,671 819.000 ~) 45,864,129 46,651,250 882.733 Matured and Sold Inv.st~ G, •• t Western (Coll.toral) 8.10 01-07-91 fHLI 9,30 01-25-91 T,oasury Note. (e) 9.00 01-31·91 TOTAL INVESTMENTS (100%) SlU,Ol9,I29 $117,548,372 $1,600,654 (P&I) Prlnclp.l and Interest payments monthly, Iny~~tme"ts with maturities of less than one year are valued at cost. Purchases sinc@ last report .re shown in bold type. (a) f~LHC h.s • on.-y.ar callabl. option, beginning on 8-28·91. (b) FHLB has. three·year callable option, beginning on 12·27-93. (e) FNHA has • callable option every int.r.st payment due date (Apr., Oct.). (d) FNMA has • c~l1abl. option ev.ry inlerest payment due date r.Jan., Jul.). Purth .. 1 Price BlliDi:!l 1.000,000 '30,937 998,125 998,750 2,000,000 991,875 2,437,500 2,003,125 2,000,000 3,000,000 Z ,002 ,813 500,000 361,875 400,000 500,000 474,048 273,625 -~ 45,768,517 $115,'47.718 (e) Tre"ury Not. maturing 1·31·90 •• rned $135,000 in int.rest, plu, $29.297 in purcha •• d"count. (f) Under reported interest by S50 l.st month. for fHlB maturing 12-17'93. CMR: 152:91 .. Page 4 of 5 Period flWnn 38,750 SO 76,000 18,375 20,500 4,111 -.....§...llQ [~: 248,434 ' ., , -, l\ _ ;,.,_,\, j-'/ , ,,..' , " '< 15,300 93,000 lli.m Sl,IlO,026 ,.':. , , . . '. Work l!n.i1 lrot.rest IneOlDO S Effeet;.e Annuil Rate of Return On In.est""nt. ,; CIGl:1S2:91 IlITEREST IIICOIIE (CASK BASIS) JANUARY 31, 1991 lncrease To Oit. To Dat. (fleer •• se) 1989-90 1990-91 1990-91 5,748,582 6,032,007 283,425 9.08 8.75 ( .31) Page 5 of 5 S Of Target Taro!t To Da.te 8,800,000 68.55 8.Z0 106.83