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HomeMy WebLinkAbout0270.091~ w "OJ' 16, 1991 .- THE HONORABLE CITY COUNCIL Palo Alto, California · .- IlfYmME!!T AtIlylTY REPORT fOR APRIL 1991 Members of the Council: Thts is an information report and no Council action is necessary. I NTEREST INCOME Interest i"CDOe (cash basis) for the month Df April was S818,I77 and for the first ten DOnths of 1990-91 totalled S8.3 million, 83 percent of the revised annual target of S10 million. CURREN! poRTFOLIO The par value of the City's portfolio is approximately SI22 million, whtch consfsts of .583.6 million, or 68 percent, aaturing within two years. Most of the fnvestments , $93.3 mill jon, Of 76 percent, ire in United States Government Securjties. The current ~rket value of the portfolio is 101.3 percent of cost. COMPLIANCE WITH INVESTME!!T POLICY As of April 30, 1991, tfle investment portfol;~ was in compHance with all elements of the City's investment policy. [n ~ay ]991 projections indicate receipts will be $13.6 million; expenditures will be S12.0 million; and 114.1 million of investments wj11 mat~re. On the baSis Qf the abcve projection~ there will be sufficient fu~ds ta meet Palo Alto~s expenditure requirements fer the month of May. Based upon the cash flow projections prepared by Treasury staff fDr flsca' y •• r 1~90-9I, there will be sufficient funds from revenues and maturing investments to meet all expenditure requjre~nts for t -remair.der of th~ fiscal ear. I ~itt.d.,-~~ (::J;!hl~~'-;::': ~ HARRISON Finance Director ager CHR:270:9] --_ ... _----- "/ :D 0 • Page 1 of 5 REPORT OF INVESTIIEHTS APRIL :ro. 1991 Par Amount 04/30/91 1990-91 03/31/91 BYMDlRIIY ([0 I ~jll!2nll (:\1 TiC9£l (l) WithIn 1 IIOnth $ IUO 11.5 > $6 13.5 1-3 IIOnth. 18.00 14_7 B.4 3-6 IIOnth. 6.00 4.9 5.9 6-9 IIDnth. B.OO 6.5 3.3 9-U IIDnth. S.OO 6.5 11. 7 1-2 yeors ~ Z!...Z JM Wit~in 2 years 83.60 68.3 > $35 66_7 2-5 years 33.55 27.4 28.9 5-10 years 3.30 2.7 2.7 10-20 yurs 1-23 LO 1.0 20-30 years --..Jj ----.§ ---...J. Over 2 years 3B.87 31.7 33.3 TOTAL 122.47 100,~ 10~ 100.~ n 1m QE IID:UIIIOO local Agency Investment fund 10.00 8.2 B.3 ""tn' fund _10 _I .1 Certificates of Deposit: Co'1lter.lIzed 19.00 15.S 10_9 City of Pal. Alto Bonds .05 .1 .1 U.S_ Tre .. ury 4B.50 39.6 42.3 U.S_ Agency 44.B2 ~ ~ TOTAL 122.47 100.01 1001 IOO_~ Market Value/Cost $124.0/122.4 101.3% > 951 tMR:270:91 -.r,'> -": / / I , ~ /'; . ,~, ~ INVESTMENTS Local Agency Investment fund (8,17%) LAIF Mutual Fund (0_08%1 Fidelity Investments F.anklln Investments '.~llfl~Al!J g[ ~!RQ~l1 (15,~I~J Fidelity Fedo.al (Collate.al) Suoltomo Sank (Collate.al) Fidelity Federal (Collate.al) sumltomo Sank (Coll.te.al~ Paclftc Western Bank (Col ato.al) Glendale Fodor.l (Collato •• l) Sumttomo Sank (Collateral) Glendale Fede.al (Coll.te.al) Fidelity Fedo.al (Collate'al) ~'lg Al12 ImatOv!mlvt 82D~~ (.g~~l Se.les P CMR:270:91 REPORT Of INVESTIIENTS APRIL 30, lUI Into.o.t Matu.lty Rili-.JIlU 7.65 05-01-91 5.76 05-01-91 5,15 05-01-91 5.70 06-10-91 6.10 06-25-91 6.45 06-26-91 6.10 06-26-91 6.50 06-27-91 7.00 05-27-91 6.10 ~6-Z'1-91 7.65 07-01-91 7.00 10-29-91 10.95 01-02-93 Pa. YllIIi 10,000,000 50,000 ~.ooo 100,000 2.000,000 1,500,000 2,000,000 500,000 3,000,000 3,000,000 2,000,000 3,000,000 2,2QMQQ 19,000,000 55,000 " •• kot .I'il!Il 10,000,000 50,000 ..1O...2Q!1 100,000 2,000,000 1,500.000 2.000,000 500,000 3.000,000 3,000,000 2.000,000 3,000,000 2,QQQ,OQQ 19,000,000 55,000 Unre.Hzed Ga1n CLoss) ................. Pu.ch"e P.1ce BaJance 10,000,000 50,000 ~ 100,000 2,000,000 1,500,000 2,000,000 500,000 3,000.000 3,000,000 2,000,000 3.000,000 Z.QQQ,QQQ 19,000,000 55,000 Page Z of 5 Pe.lod Earn1QCU ,E. 195,360CD 1,619 z..m 4,229 18,611 8,242 I) ZL1lZ. 50,575 ~" J c,''i{:' ~~~ .:-; ,. '" '\ I " .... '. " " : '\ ! , .1 1 '" '-',,' . 6 ,,;: -,.~~;~~' .. ,Y ~ . . • . ~.; '",! REPORT Of INVESTII£IIT5 Page 3 of 5 APRIL 30. 1991 Purchase Interest Maturity Par Market Unr •• 1tzed Price Period ~ Bitt Dill !IlJu: UlYL Ga tlLLLoss 1 BAlance Ea!'ntnQs U.~. Itlll~[~ '~f.§~l TI't!l$ury Hotos 7.75 11-30-91 2.000,000 2,005,625 2,005,625 Treasury Note!) 8.13 01-31-9Z 6,000,000 5,947,734 5,947,734 Treasury Notes 8.50 02-29-92 2,000,000 2,002,813 2,002,813 no,oooC) Tr •• ,ury Hotes (a) 8.50 03-31-92 4.000,000 3,988,906 3,988,906 / Treasury Notes 8,38 06-30-92 7,000,000 7,147,000 132,547 7,014,453 t- , / Treasury Notes 8.25 08-15-92 3,000,000 3,059.000 81,969 2,977,031 " , Treasury Hotos 8.38 11-15-92 2,000,000 2,047,000 37,625 2,009,375 / Treasury Notes 8,75 01-15-93 2,000,000 l,062,OOO 52,000 2,010,000 ,/-', Treasury Motes 8,25 02-15-93 4,500,000 4,591,000 81,625 4,509,375 Tr@asury Notes 8.13 06-30-93 3,000,000 3,070,000 54,062 3,Ql5,938 I >,>- Treasury tlott!-S 8,00 08-15·93 7,000,000 7,144,000 155,875 6,988,125 Treasury Notes (aJ 8,25 09-30·93 4,000,000' 4,108,000 72,062 4,035,938 135,082 Treasury Hote, 7.75 11-15-93 MQQ.OQQ z.m OOQ J..lli z.m.m ~ 48,500,000 49,204,076 675,640 48,528,438 305,082 U.S, AGENCY '3§.59~1 FHl8 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 1,000,000 FNlolA B.40 OB·12-91 1,000,000 1,000,000 I,OOO,OOQ 0 FHlB 7,20 OB"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 B.BS 03·25-92 2,000,000 2,000,000 2,000,000 FNMA 8,45 05-1\·92 2,000,000 2,041,000 41,000 2,000,000 FNMA 8.45 07-10-92 2,000,000 2,046,000 46,000 2,000,000 FHLB 8.60 08-25-92 1,000,000 1,02S,OOO 25,000 1,000,000 FHl8 9.05 12-28-92 3,000,000 3,099,000 84,000 3,015,000 FNMA 7.95 02·10·93 2,000,000 2,034,000 34,000 2,000,000 I SlMA 10,50 04-22-93 1,000,000 1,064,000 64,000 1,000,000 52,500 , ; " CMR:270:91 c',,/ ,~, / /' , / Interest .so.uru: Bitt: ~ (Continued) FNMA 10.75 FHLB 10,75 FHLB 7.75 FHL8 7.45 FHLB 1.95 FHLB 12.15 FHLB 7.55 FHLMC (c) 8.80 fHLB (dl 7.95 FNMA (e 7.70 FNMA 7.60 FLB 1.35 FNMA (f) 7.40 TVA 1.35 FNMA (g) 8.20 FHLMC (PU) 10.00 fHLHC lPll Semi-Annually) 12.45 GNHA PU) 9.00 Matured and Sold Invutments Troasury Noto. (a),(b) 9,75 FMA 1.Z0 Fidelity Federal (Collateral) 8.00 TOTAL INVESTMENTS (100%) REPORT OF INVESTMENTS APRIL 30, un Maturity Par Market Unreal1zod DUe Y.J.lJa .I'WL GailLlL!lllJ 05-10-93 1,000,000 1,069,000 138,063 05-25-93 1,000,000 \,071,000 72,875 07-26-93 1,000,000 1,016,000 17,250 08-15-93 2,000,000 2,020,000 20,000 09-21-93 1,000,000 1,020,000 28,125 12-27-93 2,500,000 2,786,000 348,500 01-25-94 2,000,000 2,017,000 13,875 08-28-95 2,000,000 2,019,000 19,000 12-26-95 3,000,000 3,007,000 7,000 02-12-96 2,000,000 1,984,000 (n,500r 01-10-97 2,000,000 1,910,000 (32,813 01-20-97 500,000 485,000 (15,000) 10-01-97 400,000 381,000 19,125 04-01-98 400,000 381,000 (19,0001 01-10-02 500,000 481.000 (19,000 02-01-09 470,956 484,GOO 29,450 09-15-09 255,000 289,000 15,375 11-15-16 121.~~1 Z2M~~ IZM§2) 44,817 ,497 45,614,250 894,865 03-31-91 04-10-91 04-23-91 $1~2,472.497 $123,973,328 $1,570,505 Purchase Prlco Blhru:e 930,937 998,125 998,750 2 ,000.000 991,875 2,437,500 2,003,125 2,000,000 3,000,000 1,997,500 2,002,813 500,000 361,875 400,000 500,000 454,550 273,625 ~~~,m 44,119,385 $122.402.823 Page 4 elf 5 .'- Porlod EatninG} 14,800 14,100 3,966 !'.) ....J..lli. 91,910 99,688 36.000 .~ 35.333', I $618,177 (P&I) (a) (b) (c) (d) (e) If) (g) Principal and Interest payments monthly. Investments with maturities of l.ss than une year are valued .t cost. Purcha~@~ since llst report a~a shown ~n bold type. US Tr.asury Note, maturing or paying interest at the end of March (a weekend) were paid On 4-1-91. US Treasury Notes m.turing 03·3)-9\ earned $97,500 plus $2,188 purchase discount. FHLHC has a callable option, beginning On 08-28·91. FHLB has • c.llabl. option, beginning on 12-2]·93. FNMA has a callable option, beginning on 02-12-94. FNMA has. callabl. option every Interest payment due date (Apr., Oct.). FNMA has. callable option every Interest payment due date (Jan., Jul.). CMR:210;91 " 1.._-__ .... , <~\~')'j, .~ <,' 0 \ ".",1.,:, . ' . .': . '\ ,,' ',' " I I :',0 . , '. - •• ho' • .. ',.,. t '.' :' Work l!nil [roterest Income S Effect;ve Annual Rate of Return On Invesboents " CMR:270:91 ,/' o INTEREST lllCOII[ (CASH lAS IS) APRIL 30, un Increase To Date To Oite (Ooere .. o) 1989-90 1990-91 19~0-91 1,132,491 8,260,483 521,992 8.94 8.63 (.31 ) Page 5 of 5 :1\ Of Target Tlrget To D2te 10,000,000 82.60 8.50 101. 53 .• ~,~.,?. ,~