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HomeMy WebLinkAbout0583.000~.' ~ November 2g, 1990 " '.;: •.• ;.l THE HONORABLE CITV COUNCil Pilo Alto, C.11for.l. '.' INYESTMEHI ACTIYITY REpoRT FOR OCTOBER 1"0 Neober. of the Council: .aport In Btl'f Tbfs ~s an infonaation report and no Council action is necessary. INtEREST I!!COIIE Interest !.COle (clsh bas,s) for the .ant~ of October was 1706,186 and for the flr.t four "nth. of 1990-91 totalled $3.4 million, 39 percent of the annual target .f $8.8 million. CUAAE!!T POUfOlIO The pOT value of the City's portfolio is approximately 1117 million, which consists of .$14.5 111llfon, or 64 perce'lt, maturing withiR two year-s. Most of the investltents, $98.9 .ill1on~ or 85 percent, ire in United Stiltes Government SecurlUes. The current .,arket value of the portfolio 1. 100.7 percent of co.t. IlO!!PllAlltE IIID! !I!VESTIIE!!J POLICY A. of October 31, 1990, the 'nve.tment portfol io was in cOllPlianc •• it~ .11 ele.ents of the City's investment pol icy. In NoYelT',ber 1990 projections indicated receipts would b. 115.0 millIon; expenditures would be 513.0 llil1ion; and S19.6 .1111on Clf 1nYl!'st~nts I!atured. On the basis of the above prOjection. there were sufficfent funds to meet Palo Alto's expendit~re reqUirements for tne mont~ of Noveober. Based upon the ca.h flow projections prep.red by Tre.sury st.ff for fiscal y,ar 1990-91, t~er. will be sufficient funds from revenue. and .. turing fnvestltents to meet all expenditure requirements for the remainder of the fheal 'U •. Respectfully $u~itt.d, &rtclt>l 13. ~ GORDON 8. FORD Tre.sury !!an'ger CKR:~83:0 -~~",J.Q ~ RISON Finance Director • ' .. -. Q) r;. '~' Pige 1 of S U:PORT OF 1 NYESTMENT 5 OCTOBER 31, 1990 PO( AInount 10/31/90 1990-91 09/30/90 (In S Mil] jQO~l ,:1;) Iir~ut 'I) n MIl!!!!II Vlt~in I OIOnth $ 19.60 16,1 > $6 13.0 1-3 IIOnth. 10.50 9.0 13.0 3·6 IIOnth, 6.00 5.1 8.9 6·9 .. nths 5.00 4.3 5.3 9-It .. nt~s 4.45 3.8 3.6 1-2 yeirs 1M2 Z.L~ .lU I/ltMn 2 y.ars i4.55 63.7 > 535 70_1 2-5 years 37.05 31. 7 25.1 5-!O yurs 3.l0 2.8 2.9 10-20 yelrs 1.26 1.1 1.1 20-30 years ~ ----1 ~ Over 2 y •• rs 42.43 36.3 29.9 'TOTAL 116.9S 100.0% 100% 100.0% n mE DE IIIY£STIIDIT local Agency Investment Fund 10.00 a.s 8.9 Mut •• l fund .60 .5 .5 Certlflcltes of Deposit: Colhterl1fzed 7.00 6.0 8.9 City of PI'. Alto Bonds .05 .1 .1 Certificate of Participation .45 .4 .4 U.S. Treasury 48.50 41.4 35.3 U.S. Agency ~ !U 45.9 TOTAl 116.98 100.Di 10Di 100.0% ~rket Value/Cost $I17.S/1I6.S 100.7l > 95% 100.4% CIIR:583:~ ------_. --- Pige 2 of 5 REPORT OF IItYESTNMS OCTOBER 31, 1990 ""rcha.o Interest Mlturlty Par Markot Unrealized Price Period w.m Blt~ Qltl l'illIt ~ GillD IL!llll RIlance Earnl11llS lI!YESTMEHlS local AHIICY Inn,U ... nt. EII1lII !I.~~~ lAIF 8.32 11-01·90 10,000,000 10,000,000 10,000,000 204,364 Mutual fund (0.51%) €) Fid.llty Investnonts 7.48 11·01-90 500,000 500,000 500,000 3,172 Fr.nklln Inv •• t.ents ',84 1l·01·90 ~ w...I!99 l2l!.2Q!! 600,000 600,000 600,000 3,171. CertifIcates of DeposIt (5,98%) Great W •• tern (C.ll.terll) 8.00 11·02·90 1,000,000 1,000,000 1,000,000 13,556 Calffornl. Feder.' (Collatoral) 8.40 11·06·90 2,000,000 2,000,000 2,000,000 14,467 Fidelity Federal (Collaterll) S.60 11·13·90 ~,OOO,OOO 2,000,000 2,000,000 29,144 Gre.t West.rn (Collat.ral) 8.25 12·03·90 ~QOQ Z.Ogg.ggg .l....9.Q.q,wg -1!.ll1I -, 7,000,000 7,000,000 7,000,000 71,375 '.1. Alto IMDtQ~!m!Dt IgD~1 !,2~1 t) '. Serl.s P 10.95 07-02·93 55,000 55,000 55,000 ~lrt!!I,.t! 2! !Ac~!~12atlgD (,~Ill Elst Palo Alto Sanitary D1strlct 8.70 10-01-91 450,000 450,000 450,000 17 ,835 CIIR: 583:0 ~ REPORT OF INYESTHEHTS Page 3 of 5 OCTOBER 31. 1990 Purch ... Interest Maturlty Plr Market Unrealized Prlc. Perlod ~ Rate Dlte WlII :wu.a.... GilD (Lass) Bahnce tl!'n1nQS U.~. ![IIIYtx (!I.S§Il Tr .. sury Notes 9.00 01·31-91 1,000,000 2,970,703 2.970,703 Troasury Note. 9.38 02-Z8-91 1,000,000 997,950 997,950 Treasury Motes 9.75 03-31-91 2,000,000 1,997,81] 1,997,813 97,SOO@ Treasury Notes 8.13 01·31-92 6,000,000 6.030,000 82,266 5,941.734 TrelSury Note. 8_50 02-29-92 2.000,000 2,018,000 15,187 2,002,813 Tr8lsurl Notes 8.50 03-31-92 4,000,000 4,041,000 52,094 3,988,906 1Jl.216 Treasury Notes B,38 06-30-92 7,000,000 7,063,000 48,547 1,014,453 Treasury Motes 8.25 08-15-92 3,000,000 3,023,000 45,969 2,977 ,031 Tr •• sury Notes 8.)8 11-15-92 2,000,000 2,021,000 11,625 2,009,315 I' ,\ Treasury Notes 8.75 01-15-93 2,000,000 2,037,000 27,000 2,010,000 " "., , '., Tt"euury Notps 8.25 02-15-93 4,500,000 4,535,000 25,625 4,509,375 Treasury Notes 0.13 06-30-93 3,000,000 3,014,000 (I, ~38) 3,015,938 Tn .. ur, Mot •• '.00 08-15·93 7.000,000 7,011.000 22,875 6,988,125 Trelsury IIot.$ 8.25 09-30·93 2.000.000 2.015.000 --2 2.015.000 i .' '-'~' . -,,-I 48,500,000 48,744,466 329,250 . . ,', 48,445.216 228,716 U.~. ~i~~I (§3.Q§~1 FHL8 8.40 11-26-90 1,000,000 1,000,000 1,000,000 0 FHLB 0.90 11-26-90 3,000,000 3,000,000 ~,OOO,OOO FNMA 11.80 12-10-90 500,000 500,000 500,000 FHLB 9,35 12-26-90 3,000,000 2.998,125 2,998,125 FHLB 9.30 01-25-91 ~,OOO,OOO 2,000,000 2,000,000 FNMA 7.65 02-11-91 2,000,000 2,000,000 2,000,000 FNMA 7.20 04-10-91 1,000,000 1,000,000 1,000,000 36,000 FHLB 7.875 05-27-91 4,000,000 4,012.500 4,012,500 FNMA 8.55 06-10-91 1,000,000 1,000,000 1,000,000 FNMA 8.40 08-12-91 1,000,000 1,000,000 1,000,000 FHL8 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,SS 03·25-92 2,000,000 2,024,000 24,000 2,000.000 ful;,:",,;~)~-;,:~:y -; ',,-,--~ CIIR: 583:0 ';;'fiI'Yr"-' , • '1{A " " :'" .0"".'. ,i' • .' ~ , REPORT OF IHYESTNENTS Page 4 of 5 OCTOBER 31, 1990 Purchase Interest Matur1t,)' Par Markot Unreal1zed Pr1ce Per10d ~ B11~ DIU blIII !Il.l!L Wn..lI.wJ. B.&lan.:L illnlnas U,S. AaEMCY (Continued) FNIIA 8.45 05·11·92 2,000,000 2,014,000 14,000 2,000,000 FNIIA 8.45 01·10·92 2,000,000 2,014,000 14,000 2,000,000 FHl! 8.60 08·25·92 1,000,000 1,010,000 10,000 1,000,000 FHLB 9.05 12·28·92 3,000,000 3,064,000 49,000 3,015,000 FNIIA 7.95 02·10·93 2,000,000 1,999,000 (1,000) 2,000,000 F_ 10.50 04·22·93 1,000,000 1,053,000 53,000 1,000,000 52,500 FNIIA 10.15 05·10-93 1,000,000 1,061,000 )40,063 9]0,931 @ FHlB )0.75 05-25-9] 1,000,000 1,061,000 62,815 998,125 :';.~ FHLB 1.15 01-26-93 1,000,000 991,000 (1,150) 998.750 FHLB 1.45 08-25-93 2,000,000 1,969,000 (31,000) 2,000,000 FHLB 7.95 09-27-93 1,000,000 994,000 2.125 991,875 FHL8 12.15 12-21-93 2,500,000 2,761,000 323,500 2,431.500 FHlMC (a) 8.80 08-28-95 2,000,000 2,005,000 5,000 2,000,000 FNIIA 7.60 01-10-91 2,000,000 1,890,000 (112,813) 2,002.813 FLO 7.35 01-20-97 500,000 465,000 (35,000) SOO,OOO FNIIA 7.40 10-01-97 400,000 371:.000 10,125 361,815 14,800 TVA 7.35 04-01-98 400,000 372,000 (28,000) 400,000 14,700 , ;. .:\ FNIIA 8.20 07-10-02 500,000 478,000 (22,000) 500,000 '. • , (f FHI.MC (Pil) 10.00 02·01-09 502,319 509,000 23,087 485,913 4,236 , \ FHlMC (PII Semi-Annually) 12.45 09-15-09 2S5,OOO 283,000 9,375 213,625 GNMA (PU) 9.00 11-15·16 _ 821,711 Z2Ml!!l .llO...§H) 6~Z 63§ ~ .,-, 50,379,036 50,710,375 431,95l 50,278,424 128,594 ~d and Sold Investments 0 Gl •• dale Federal (Collateral) 8.50 10-22-90 9,917 California Federal (Collateral) 8.55 10-29-90 6.650 FHLB (b) 7.05 10-25-90 --.1}..ID. l ~; -I ' TOTAL INVESTMENTS (100%) SlI6, 984, 036 Sill, 589,841 S761,201 $116,828,640 S706,I86 \ " (PU) PrincipII and Interest pa,vments monthly. Investments with maturities of less than one y@ar are valued at cost. Purch.s.s since l •• t report are shown in bold type. (.) FHlHC hi. lone year call.ble option. (b) FHIB maturing 10-2S-90 paid $35,250 in Interest and S313 1n purcha.e discount. f"'~~l~f<, ' ~ -, . 0. ,,: ,-""1';<-',' CMR: 583:0 ; - Vork lInll lot.rest Ine_ S Effective Annual !late of Return On lnve.tents CMR: 583:0 --- ","c_'-_": .:«:~~. -"--, INTEREST INCDIIE (CASH BASIS OCTOBEJ 31, 1~90 Increase To Oate To D.te (Decrease} 1989-90 1990-91 1990-91 2,776,464 3,397,335 620,871 8_7. 8_65 _10 . e· ,..: - Page 5 of 5 11 Of Tarset Target Ig Date 8,800,000 38_61 8_20 105_49