HomeMy WebLinkAbout0374.091July 18, J991
THE HONORABLE C 11~ COUNC 1 L
Pa10 Alto, California
!!!yfSI!!OO ACTlYITY REPORT FOR JUNE 1991
Members of the Council:
Ih1s ;s an information report and no Council attton is necessary.
INTEREST INCOME
fnterest ~~come (cas~ basis) for the mo~th of June was 5657.373 and for th2
ent're: 1990-91 fiscal jleu totalled $9.5 mi'Hon, 95 percent of the revised
annual target of $10 mjl1io~. T~o U. S. Treasuries paid interest an June 30,
1991 (a ~eekend) in tne amount of 5415,000. Since the payment was not received
untO July 1, and this report is .on a cash basis, the payment will not be
included until the July report.
CURRENT PORTfOLIO
The par"" value {)f the City's portfolio is approximately $125 million, which
consists of SBS.l million, or 68 percer.t, maturif1g within two y!ars. Most of the
investments, $94.3 millfon, or 75 percent~ are in United States Government
Securjties. The current market value of t~e portfoliO ;s 1~I.O percent of cost.
COMPLlANCf~ IIITH lHVEST~ENT PQ~ICY
As of June 30 t 1991, the in .... estment portfo1io 'trfas in compliance ..... ith all eTements
of the City's. in\lestment poTicy. In July 1991 projectioDs indicate receipts and
!Me S15.1 million in inlo'€-stll1ents maturing .... ill exceed expenditures. On the basis.
of the abO\lE projection t there will be sufficient funds to meet Palo Alto's
expen~itu~e requirements for the ~~nth of JUlY. Staff is in the process of
completing a new cash forecast for fiscal year 1991-92 based on the revised
budget.
Respec"!'::JC;;;""b",m,,"i,""-_),~ ~
-~'lV HAR,rSON
finance Director
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'V WJRITY
iiiUlin 1 month
1-3 months.
3-6 months
6-9 months
9-12 months
1·2 year;
.i thin 2 years
2-5 years
5-11) years
10-20 years
20-30 years
Over 2 years
TOTAL
BY TYPE OF IHVE~TMENT
Lnc:al Ag<:!ncy In-vestment fund
lIutu.l fund
Certificates of Oeposit:
Collateral it,d
City of Palo Alta Bo"ds
U.S. Treilsury
U.S. Agency
TOTAL
Market Value/Cost
CMR:374:9!
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Page I of 6
REPOn Of HIYESTMOIT S
JUHE 30, 1991 ,
Par Amount 06/30/91 1990·Sl 05/31/91 -.::?
(In l !<ilJiQnll (l:.l Larsti.. (=OJ ~ .~ .. '
" ~c-
$ 15.10 12.1 > $6 22.5 -'.'''~.
15.50 12. , 5.0
6.00 4.8 4.2
1(.00 11.2 11.6
9.00 7.2 7.5
25.50 ~ • .?_Ll
85.10 68.1 > 535 72.0
34.55 17.7 23.1
3.30 2.6 2.7
I. 22 1.0 1.0
_.ill _._6 ~
39.86 :11.9 28.0
124.96 100.0% 100% 100.0%
10.00 8.0 8.3
.10 .1 .1
20.50 15.4 17.4
.06 . 1 .1
54.50 43.6 40.2
39.80 31.8 2U
124.96 100.0% 100% 100.0:1;
$116.1/114.9 101.0% > 95% 101.3%
~ INVESTMENTS
; .
local Aqenc...l'..lnvestment Fuod{!.()O,;)
LAIF
"utual fund (o.o~)
Fidelity Investments
Franklin Invest.ents
Cettific.te~ of Oeggsit £!6.41%1
Glendale Federal (Collateral I
Westaoerica Bank (Collateral)
fidelity federal (Collateral)
FIdelity Federal (Collateral)
SUMitooo Sank (Collateral)
fidelity federal (Collateral)
fidelit1 Federal (Celloterol)
Su.itooo Sank (Collateral)
WUlto I •• rovement Bends (.04%)
Series P
CMR:3!4:91
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REPORT Of INVESTMENTS
JUNE 3D, 1991
!~terEst M~turity
_~ ~.li._
7.42 07·01·91
5.64 07-01-91
5.63 07-01-91
7.65 07·01-91
5.80 07-29-91
6.25 09-09-9!
1.10 09-20-91
5.90 09-25-91
6.10 09-26-91
7.00 10-29·91
5.95 12-26-91
10.95 07·02-93
Par
Vallie
10,000,000
SO,OOO
-~
100,000
3,000,000
2.000,000
3,000,000
2.000,000
4,500,000
2.000,000
2,000,000
2,000,000
20,500,000
55,000
Mc:rk:et
Val_~
10,000,000
50,000
~
100,000
3,000,000
2,000,000
3.000.000
2.000.000
(.500.000
2,000.000
2,000,000
2,OQQ,OOO
20,500,000
55,000
Unrealized
Gillr"L tLo$1J
PUl"'chas!
Price
Salance
10,000,000
50,000
SO·OOO
100,000
3,000,000
2.000.000
3.000,000
2.000.000
4.500.000
2.000.000
2,000,000
2,000,000
20,500,000
55,000
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Page 2 of 6
Period
Earnir.9s
239 m
417
10,588
12,05~ __ ~!l
22,644
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Page 3 of 6
REPORT Of INVESTMENTS
JlJItE 30, 199 I
Purchase
Ir;terest Maturi ty Par Market Unrealile~ Price Period
~ Rate Da~ ~_aJ.yg Val ue ~_a_~Lo551 Balance Earnfn!Z;I
U.S. Triisurl (43.SI')
Treasury Notes 7.75 11-30-91 2,000,000 2,005,625 2,005,625
Treasury Notes 8.13 01·31·92 6,000,000 5,947,734 5,947,734
Treasury Notes 8.50 02-29-92 2,000,000 2,002,81l 2,002,813
Treasury Notes 8.50 03-31-92 4,000,000 3,98B,9C6 3, 98B, 906
TreastJry Notes ( .J B,38 06·30-92 7,000,000 7,142,000 7,014,453
Treasur), Notes 8.25 OB-15-92 3,000,000 3,051,000 74,969 2,977,031
Treasury Nat es 8.3B 11-15·92 2,1)00,000 2,041,000 31,62S 2.0C9~37S
Treasury Notes 8.75 01-15-93 2,000,000 1,056,000 46,000 1,010,000
Treasury Notes 8.15 01-15-93 4,500,000 4,594,000 84,625 4,509,375
Trusury Notes (aJ B.13 06-30-93 3,000,000 3,064,000 4B,062 3,015,938
Treasury Notes 8,00 08-15-93 7,000,000 7,117,000 138,875 6,988,125
Treasury Notes 8.25 09-30-93 4,000,000 4,094,000 58,061 4,035,938
Treasury Hotes 1.15 11-15-93 8,000,000 _LJi98,000 16.437 _MQ.L.ill
54,500,000 55,085,531
\/.5. AGENCY (3J.86X)
498,655 54,585,876
FtIIIA 8.40 08-11-91 1,000,000 1,000,000 1,000,000
FHlB 7.20 08-26-91 1,000,000 1,018,750 1,018,750
FHLB 7.40 09-25-91 1,000,000 1,000,000 1,000,000
FHlB 8.85 03-15-92 1,000,000 2,000,000 2,000,000
FNHA 8.45 05-11-92 2,000,000 2,000,000 2,000,000
FNKA 8.45 07·l0-92 2,000,000 2,017,000 17,000 2,000,000
FHlB 8.60 08-25-92 1,000,000 1,010,000 10,000 I, 000,000
FHLB 9.05 11·28-92 3,000,000 3,085,000 70,000 3,015,000 135,750 FNMA 7.95 02-10-93 2,000,000 1,018,000 28,000 2,000,000 StKA 10.50 04-11-93 1,000,000 1,0\8,000 58,000 1,000,000
CMR:374:91
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Page 4 .p 6 -REPORT OF IMVESTKEMTS
JUHE 30, 1991
Purchase
Interest M'a tu:" ity Par Mdrket Unrealized Price Period
~ Rate Dat._ Value Va1v_L. Gain (105S) l-al ar.ce E,rnln.!l1
U.S. A6~CJ (Continued)
FIfIA 10.75 05-10-93 1.000,000 1,063,000 132,063 930,937
FHlB 10.75 05-15-91 1,000,000 1,065,000 66,875 99S,125
f~lB 1_15 07-<6-93 1,000,000 1,013,000 14,150 998,750
FHLB 1.45 08·25-93 2,000,000 2,015,000 15,000 2,000,000
FHlB 7.95 09-27-93 1,000,000 1,015,000 24,125 991, S7S
fHLB IUS 12-27-9] 2,500,000 2,758,000 nO,500 2,437,500 151,875
FHlB 7.55 01-15-94 2,000,000 2,009,000 5,875 2,003,125 • fHLMC (b) 8,80 08-28-95 2,000,000 2,006,000 6,000 2,000,000
FHlB (t) 1.95 12-26-95 3,000,000 3,011,000 11,000 3,000,000 lI9,150
fNMA (d) 7.70 02-12-96 2,000,000 1,969,000 (2e,50~J 1,997,500
fNMA 7.60 01-10-97 2, 000,000 1,948,000 (54,813) 2,002,813
flB 1.35 01-20-97 500,000 481,000 (1; ,000) 500,000
FNMA (e) 7_40 10-01-91 400,000 377,000 15, 125 361.875
ITA 7.35 04·01-98 400,000 377,000 (23,000) 400,000
fHMA tf) 8.20 07-10-02 500,000 U9,000 (ZI,OOO) 500,000
FHlMC (P&I) 10.00 02-01·09 462,176 481,000 35,230 445,770 3,884
FHlMC (P&I Semi-Annually) 11.45 09-15-09 255,000 294,000 10,l75 273,625
GNMA (PU) 9.00 11-15-16 182,461 Z63,QQQ UL1?.Q) §~0,3.80 5,2Z9
39,806,631 40,361,150 665,725 39,696,025 416,688
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CMR:374:91
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Matured and Sold Investments
FNIIA
Fidelity feder, 1 (Coll,teral)
Sumltomo 8'n~ (Collater.l)
Fidelity Feder.l (ColTateral) (9)
Sumitomo 8,n); (Collateral)
Pacific Western 8ank (Coll,teral)
Gl.ndal. federal (Collateral)
Sumitomo 8ank (Collat.ral)
Vest ... ric. Bank (ColTateral)
Sumitooo 8'nk (Collateral) (h)
TOTAL INVESTMENTS
REPORT OF INVESTMENTS
JUNE 3D, 1991
Interest Maturi ty Par
Va 1 ue Rat. Oat.
8.55
6.70
6.10
1.45
6.10
6.SO
7.00
6.10
6.05
5.95
06-10-91
06-10-91
06-25-91
06-Z6-91
06-26-91
06-27-91
06-27-91
06-27-91
06-28-91
06-28-91
Market
ValuL
Unre::.liz.ed
Gain (losU
Pag' 5 of 6
Purchase
Piice
Balance
Period
Earnings
42,750
3,350Al>,
II ,69'Si
3,813
30,875
19,333
23,383
14.435
7,933
(100%) $124,961,637 $126,102,281 $1,154,380 $124,937,901 $657,373
(P&IJ
(a)
(b)
(ej
(0 )
(, )
PrinLipal and Intere~t payments monthly. lnvestments with maturities of less tnan one year are valued at cost.
Purchases since last report are shown in bold type.
( f)
(g)
( .')
US T-Notes Interest payments of $415,000 due on 6-30-91{ .... e'.ndJ were received 7-1-91 and will be reflected 'n July',
report.
FHtMC has a callable opti'c;n, beginning on 8-28-91. l?;
FHlB ~as a callabl! option. t!ginning on 12-27-93. ~.
FNMA ~as I callable option, beginning on 02-12-94.
fNMA has i ca1lable option every int~rest payment due date {Apr .• Oct.}.
FNKA has a callable option ~very interest payment due date {Jan.~ Jul.).
CD for Fidelity paid interest of $8,958 but It was not received until 7-1-91 and will be reflected In July', report.
Sum/tome CD was purchased on 5-4-91 and mature4 on 5-28-91.
CHR:374:9!
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p' .g~ S Of 6
WO,<
To Date ~ -~~ To D4tt 1I'!c"'e~Sf! I rnter, t
~ (D~c,.,s.) <ffeett •• Income
~L tOr
I
s
9,,57,033 -t.~ T"get
/ P..t. Of /'nnua)
9,5tO,JZ( l~
0. 1,1. "turn I estTr1ents
t 353,09)
10,OOO,QOO I 8.94
95.<0 8.59
(.3$)
8.50
10]·06