HomeMy WebLinkAbout1989-10-17; City Council; 10322; Report on City InvestmentsB# /+ 322 TITLE:
[TO. O/ 7/89
EPT. TRS
REPORT ON CITY INVESTMENTS
3ECOMMENDED ACTION:
No action is required.
ITEM EXPLANATION:
State ‘law requires the City Treasurer to report to the monthly basis the status of the City‘s investment portfol
CITY MGA.
a
0. This report s 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 October 1, 1989, is as follows:
Certificates of Deposit
Federal Gov’t Notes or Bonds’
Federal Agency Notes or Bonds2
Corporate Notes3
Local Agency Investment Funds
Bankers Acceptances4
Commerci a1 paper5
Other Investments
Total Portfolio
Principal Amount
$ 21,000,000
3,853,011
14,127,541
10,025,938
9,300,000
2,879,767
979,336
343,171
$62,508,764
City Council on
Average Interest Rate 9.49%
8.74
8.49
10.25
8.90
.8.81
8.73
7.98
9.19
Average Term 26 1
642
1688
1039
-
170
87
-
648 =
These investments have been made in accordance with the City’s investment policy adopted January 2, 1985, and last revised March 28, 1989.
FISCAL IMPACT:
When held to maturity, the above investments will yield $11,811,453 in interest revenue.
EXHIBITS :
Detail listing of investments as of October 1, 1989.
1. Current market value = $ 4,099,506
2. Current market value = $14,016,475
3. Current market value = $10,056,025
4. Current Market Value = $ 2,908,060
5. Current Market Value = $ 979,700
Interest is current on all applicable securities.
The average life of the portfolio is 1.77 years.
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