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HomeMy WebLinkAbout0239.091·" April 18, 1991 THE HONORABLE C[TI COUNCIL Palo Alto, C,liforni. INYESTlIEIfT ACTIVITY REPORT fOR MARCJi 1991 Members of tn" Council: '_. This is an infurmation report and nc Council action is necessary~ II1T£REST IMtIlllE Interost income (cash basis) fo" the month of March was $285,781 and foc th_ first .ine months of 1990-91 tOhlled 11.4 million, 14 percent of the revised annual target of SID million. C!!RROO ,ORTFOL IR The par value of the City's portfolio ;s approximately S1l9 million., which consists of .579.6 mill ian, Dr 67 percent, matur'ing withiD two years. Most of the investments, $96.3 m.illion,. or 81 percent, are in Ut\lted States Gowernment Securitles_ The <"rrent m.rket yalue of the portfolio is IDI.2 percent of ccst_ CO!!PLlAMtE WITH INYESTI!EIfT POLlCY As cf March 3I s 1991, the investment portfolio was i~ compliance with all e1ements of the tity's investment pollc}. IR April 1991 projections ;ndlc~te receipts will be $14.5 million; expenditures will be S13.1 millien; and $16.1 .ill ion of investllt!l1ts will mature. On the basis of the above projection, there will be 5ufficier.t funds to meet Palo Alto's expenditu~e requirements for the month of April. Based upon the ca~~ flo~ pr~jections prepared by Treasury staff for fiscal year 1990-91 J there will be sufficient funds from revenues iLnd .at~ring investments to meet all expendjture reQuirements for the remainder of the flscal year. Respectfu:1 Y S"bm_i~ted,_. ...J2.. I ,~~75.~ CJ-)f.t}-'J-,N GOP.ooN 8. fORO EMILY HARRISON Tt1!lSury .Manager nnance Director CMR:Z39:91 '7juJ1l... :jUI)1.UJ ~ JUNE FLEH1HG <_ Assistant Cit1 Manager • BY !!AJURIIY Wlthln 1 month 1-3 ""nth, 3-6 mor.ths 6-9 IOUnths 9-U 1I!Onths 1-2 years \/1 th ". 2 years 2-5 y •• rs 5-10 years 10-20 years 20-30 years Over l years TOTAL BY TYPE OF I!!YESTW!J loea1 Agency Investment fund .... tu.l Fund Certiflcates of DepOSit: Colloterallzed City of Pal. Alto Bonds U.S. Tr .. ,ury U.S. Agency REPORT OF INVESTMENTS IlAACH 31, li91 Par Amount 03/31/91 (I" S M1111on" (\II S 16.10 10,00 7.00 4.00 14.00 l!,M 79.60 34.56 3.30 1.23 --...Jj 39.88 119.48 10.00 .10 13.00 .06 50.50 !i..ll U.S 8.4 5.9 3.3 11.1 ~ 66.7 2B.9 2.7 1.0 _._7 33.3 100.~ 8.3 .1 10.9 .1 42.3 38.3 TOTAL 119.46 10O.~ Page I of 5 1990·91 02/28/91 hrg.t (II;) > S6 > $35 10~ 100% 12.2 6.1 8.3 4.2 6.1 .H.l 66.7 28.8 2.7 1.0 ~ 33.3 IOO.~ 8.3 .5 10.8 .1 42.1 ..M.J 100.0% Market V.lue/Co,t S120. B/1l9. 4 101.2" > 95% 101.3% CMR:239;91 -, , . • \ Page 2 of 5 AEPORT Of IHVESTKENTS IlARCH 31, 1991 Purc~ase Inte,..,st Maturity Po. Market Unrealized Price Period ~ Rat! Dite hill !!l!!t Gaia (L"n) ~lliD~1 E;iD!i!)g~ INVES ym;nn local ~g!l!!!;r Inmtllent Fund [~.371) lAIF 7.98 04·01·91 10,000,000 10,000,000 10,000,000 • llutual Ftmd (O.08S) Fidelity InYestllents 6.02 04-01·91 SO,OOO so ,000 so ,000 2,405 Franklin !nYest.rlts 6.00 04·01-91 S!l.ooo S!l.OOO SO,OOO ZdI!! 100,000 100,000 100,000 5,293 Certlflcat,. of Deposit [IQ.ass) Fidelity Federal (Colliteral) B.OO 04-23-91 3,000,000 3,000,000 3,000.000 18,667 Fidelity Federal (COllateral) 6.10 0E-10-91 %,000,000 2.000 1 000 2.000,000 Glendale Federal (Colloteral) 7.00 06-11-91 3,000,000 3,000,000 3,000,000 Glendale federal [Co, lateral) 7.65 07 -01-91 3,000,000 3,000,000 3,000.000 51,000 Fidelity federal (Collateral) 7.00 10-29-91 Z,ogo,ogU 2,OQQ,OQJ1 Z.ogQ,Q!1!2 ...1.m 13,000,000 13,000,000 13,000,000 15,sooe Pal~ AI10 'BDrO~eoent Bonds (.O~Jl Series' 10.95 07-01-93 55,000 55,000 55,000 y.S. Ireas~r! [42_271> Treasury Notes. (a) 9.75 03-31-91 2,000,000 1,997,813 1,997,813 T",asory Hotes 7.75 11-30-91 2,000,000 2,005,625 2,005,625 CMR:239:91 Page 3 of 5 REPORT OF !NVESTllEllTS IlARCH 31, 1991 PtJrchase Interest "aturity Pir Market Unrealized Prlee Perlod ~ B~te Dite ~ !!l!!L &~jo (Lg~s.] fta] ~!)C~ (;i[DI[!g~ U~S. Ir:u~Yt! (Contlnuod) Trea.ury "ate. 8.13 01-31-92 6,DOO,OOO 5,947,734 5,947 ,134 Treisury Motes 8.50 02-29-92 2,000,000 2,OOZ,813 2,002,813 Treasury Notes (a) 8.50 03-31-92 4,000,000 3,988,906 3,988,906 Treasury lIot •• S.lS Ot-30-~Z 7,000,000 1,136,000 121,541 1,014,453 • TrelSlIrl Notes 8.25 08-15-92 3,000 ,000 3,053,000 15,969 2,911,031 Treasury Note. 8.38 11-15-92 2,000,000 2,042,000 32,625 2,009,375 Treasury Hotes 8.75 01-15-93 2,000,000 2,058,000 48,000 2,010,000 Tnuury Notes. 8.2S 02-15-93 4,500,000 4,594,000 84,625 4,509,375 Treasury Mot .. 8.13 05-30·93 3,OOe,Ooo 3,062,000 46,062 3,015,938 Treasury Notes 8.00 08-15-93 7,000,000 7,123,000 134,875 5,988,125 TreisuTl Notes: (a, 8.25 09-30-93 4,000,000 4,095,000 59,062 4,035,938 Treosury Net •• 7.75 1I-1S-93 2.000.000 2.02!,QQQ 875 2.023.125 50,500,000 51,129,891 603,640 50,526,251 U,~, AGENty {38_]~1l FIllA 1.20 04-10-91 1,000,000 1,000,000 1,000,000 FHtB 7.88 05-27-91 4,000,000 4,012,500 4,012,500 FIlMA 8.55 06-10-91 I,COO,OOO 1,000,000 1,000,000 ~HItA 8.40 08-12-91 1,000,000 1,000,000 1,000,000 • fHtB 7.20 08-26-91 2,000,000 2,018,750 2,018,750 FHl8 1.40 09·25-91 I,OO~,OOO 1,000,000 1,000,000 31,000 FHtB 8.85 03-15-92 2,000,000 2,000,000 2,000,000 88,500 FIllA 8.45 05-11-92 2,000,000 2,038,000 38,000 2,000,000 FNIIA 8.45 07-10-92 2,000,000 2,043,000 43,000 2,000,000 FHt8 8.60 08·15-92 1,000,000 1,011,000 n,ooo 1 ,000 ,GOO FHL8 9.05 !2-28-92 3,000,000 3,093,000 78.000 3,015,000 fNIIA 7.95 02-10-93 2,000.)000 2,029,000 29,000 2,000,000 CI4jl;239;91 • -:1· ., . '-"':' / ::~ / .. -_ .. _-,. Page 4 of 5 ' ~ u.s. AGENCY (Continued) SlJIA FNWI FHlB FHl5 FHU FHlS FHlB fHlB fHll«: (b) fHl8 {c) FNWI FNKA FlB FNIIA (d) TVA FNMA (e) FHlI«: (PlI) FHLMC (Plr Semi-Annually) GNIIA (PII) eatyred and Sold IDvest.ents fidelity Federal (Collateral) Interest Rat. 10.50 10.75 10_75 7.15 7.45 7.95 12.15 1-55 8.80 7.95 7 .. 70 7.60 1-35 7.40 7.35 8.20 10.00 12_45 9.00 7_95 REPORT OF INVESTMENTS MRCH 31, 1991 Maturity Pat Market Date Value hliIL 04-22-93 1,000,000 1,062,000 05-l0-~3 1,000,000 1,067,000 05-25-93 1,000,000 1,069,000 01-26-93 1 ,OOO,O~O l,On,OOo 08-25-93 2,000,000 2,011,000 09-21-93 1,000,000 1,013,000 12-27-93 2,500,000 2,782,000 01-25-94 2,000,000 2,OOS,OOO 08-28-95 2,000,000 2,005,000 12-26-95 3,000,000 2,995,000 02-12-96 2,000,000 1,976,000 01-10-97 2,000,000 1,956,000 01-20-97 500,000 482,000 10-01-97 400,000 380,000 04-01-98 400,000 380,000 07-10·02 SOO,OOO 479,000 02-01-09 475,865 496,000 09-15-09 255,000 283,000 1I-1S-16 792,556 792.000 45,823,421 46,510,250 03-04-91 Unrealized Gairl (Loss) 62,000 136,063 70,875 \3,250 I! ,000 21,125 344,500 4,875 5,000 ( 5,000; (21,500) (46,813) (18,000) 18,125 (20,000) (21,000) 36,541 14,375 !3! .4751 784,914 Purchase Price Balance 1,000,000 930,937 998,]25 998,750 2,000,000 991,1175 2,437,500 2,OO~,1Z5 2,000,000 3,000,000 1,997,500 2,002,813 500,000 361,875 400,000 500,000 459,459 213,525 B23.4iS 45,725,309 Period hrnfngs 39,150 4,040 15,814 6.132 191,295 $119,478,421 $120,195,141 $1.388,581 $119 , 406 ,5EO TOTAL IN¥ESTMEKf$ (1~) $285,781 (Pl!) Princlp.' a.d rntere.t payments monthly. Inv~st~nts with Maturities of less than or.e year are valued at cost. Purc~ases since l~st report ire shown tn bold type. {a) US Treasury NOtes maturing or paying interest at the end of March I' w.ekend) were paid on 4-1-91 and will be added to the April] report. (b) .1Hlr«: b •• a one-year callable option, beginning 08-28-91. (e) FHlC has a t~ree-year cal~GbTe option, beginning on 12-27-93. (d) FNHA has i ca1lable option every i~terest payment due date {Apr., Oct.]. (e} FNMA has i ca11able option every interest pa~nt due date (Jan .• Jul.). CHR:239:9! •• WQrk !!ill ! .t_rut I N<_ !ff.<t!v~ Annual $ bta Af ~.turn On !nvut ... nh , /' o IIITEU$1 IHCOKE (CASil 84Sn) MRtH 3J. Uil rn~~ut r. D~t~ To o.t* {O.~rus~} 19S9·92 1990.91 j9~·91 6.9~~.471 1,442>lO~ $32,815 8.9. 8.6~ (.30) Pag~ ~ of S % Or ~L ±:1:{t lQ,QOO,~OQ 14,4_ 8.50 10).1$