HomeMy WebLinkAbout1987-04-14; City Council; N/A; Report on City Investments4B#
HTG. 4/14/87
DEPT. TRS
RECOMMENDED ACTION:
TITLE
REPORT ON CITY INVESTMENTS
CITY MGR..&
No action is required.
ITEM EXPLANATION:
State law requires that the City Treasurer report to the City Council on a monthly basis the status of the City's investment portfolio. This report is presented to Council each month reporting on investments held on
the first day of the month.
In summary, the City's investment portfolio as of
April 1, 1987 is as follows:
Principal
Amount
CERTIFICATES OF DEPOSIT 25,600,000
FEDERAL GOV'T NOTES OR BONDS^ 3 , 244,422
FEDERAL AGENCY NOTES OR BONDS2 12 , 080 , 81 1
CORPORATE NOTES3 500 , 000 LOCAL AGENCY INVESTMENT FUNDS 11,682,000
OTHER INVESTMENTS 307 , 744
TOTAL PORTFOLIO 53,414,977
These investments have been made in
Average
Interest Average
Rate Term
7.29 374
7.78 856
8.17 2 , 266
7.45 1 , 823 7.25 -
5.17 -
7.78 -
accordance with the City's investment policy adopted January 2, 1985, and
revised Japuary 27, 1987.
FISCAL IMPACT:
When held to maturity, the above investments will yield
$ 9,657,877 in interest revenue.
EXHIBITS:
Detail listing of investments as of April 1, 1987.
ICurrent market value = $3,327,999
2Current market value = $12,480,231, of which $287,114 represents
accrued interest to April 1, 1987.
3Current market value = $501,846, of which $4,346 represents
accrued interest to April 1, 1987.
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