HomeMy WebLinkAbout1997-08-05; City Council; 14290; REPORT ON CITY INVESTMENTS AS OF JUNE 30, 1997*. 37 ,.
TG. 8/05/97 REPORT ON CITY INVESTMENTS
AS OF JUNE 30,1997
Accept and file report. 1 ITEM EXPLANATION:
The City’s Investment Policy requires the City Treasurer to report to the City Council on
monthly basis the status of the City’s investment portfolio. This report is presented
Council each month on the investments held.
In summary, the City’s investment portfolio as of June 30, 1997 is as follows:
Investment Portfolio (Cash and Securities)
1
Current Month Prior Month
Par Value 195,340,751 199,841,727
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Cost of Investments
199,507,974 Amortized Cost (1)
195,051,685 199,483,871
194,024,901 198,842,797 Market Value (2)
195,037,097
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(1) The cost of investments adjusted for amortized premiums and discounts.
(2) The amount at which the investments could be sold. Source of market values is Wells
Fargo’s custodial report as of 6/30/97.
Interest Income
Current
Current
Income Month FYTD Month FYTD
Month Prior
Cash Income Fiscal 747,142 11,807,732 12,554,874 Year-to-Date
Total Income Over The Life 28,991,765 30,302,099 Of The Investment If
Held To Maturity
..*
\. 0 0
PAGE TWO OF AGENDA BILL NO. Hi 390
Investment Performance
I Average Life
[Years) Average Yield
Apr 1997
5.90c 1.55 Jun 1997
5.87c 1.53 May 1997
5.839 1.52
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All investments have been made in accordance with the City’s Investment Policy adopted Jan
with the City’s Investment Policy. Events subsequent to the purchase might have resulted in s(
investments not being in compliance with the current policy. These events are typically a chanc
the City’s Investment Policy or a change in the credit rating subsequent to a purchase. See Ex
8 and 9 for details.
Investment portfolio has the ability to meet the City’s cash flow demands for the next six
months.
2, 1985 and last revised September IO, 1996. All investments were initially made in accord:
EXHIBITS:
1.
2.
3.
4.
5.
6..
7.
8.
9.
10.
investment Portfolio Breakdown By Book Value, Market Value, Cash Income, and Aver
Yield
Investment Portfolio Breakdown Of Maturities
Yield Comparison Graph
Cumulative Cash Income Graph
Second Quarter Transactions
Investment Report
Reconciliation of Fund Source to Investment Portfolio
Corporate Note Ratings
Percentage Weightings By Corporate Note Issuer
Investments Held Separately - Quarterly Report
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Reconciliation of Fund Source to lnvestmenk Portfolio
As of June 30,1997
Cash Balance by Fund:
General
Special Revenue
Debt Service
Capital Projects:
General Capital Construction
TI F
PFF
Park Development
Other Capital Construction
Carlsbad Municipal Water District
Sewer Fund
Solid Waste
Golf Course
Total
Internal Service
Redevelopment Funds (1)
Agency Funds
Misc. Special Funds
Enterprise:
23,640,525
14,456,241
3,410,417
5,182,199
3,462,229
14,545,474
4,716,659
49,207,150
26,217,098
29,117,129
1,065,411
2,324,282
58,723,919
9,284,871
9,410,476
0
Total General Ledger Balance 196,040,159
Amortization of discounts and premiums
Deposits in transit
Outstanding checks
Wire in/(out) not recorded
Other
Net adjustments per bank statement
Total adjustments
(24,103)
3,467,815
3,443,713
Total Treasurer's Investment Portfolio 199,483,871
(1) Redevelopment Fund Balances are interspersed throughout all funds.
** Figures based on best estimate at the time report run on 7/14/97.
0 0 Exhib
CITY OF CAFUSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30,1997
CORPORATE NOTE AND COMMERCUL PAPER RATINGS
Corporate Note Investments Meeting the Current Investment Policy:
(Ratings must be AA or better by both Moody'sand S&P)
Moodv's s&p
ASSOC COW OF N A
BANC ONE
CAMPBELLS SOUP
DETROIT SEWER
DUKE POWER
FCC NATIONAL BANK
GENERAL ELECTRIC CREDIT
KENTUCKY UTILITIES
MERRILL LYNCH
NATIONAL RURAL UTILITIES
NORWEST
PROCTOR & GAMBLE
ST PAUL CO
TOYOTA
TRAVELERS GROUP INC
WAL-MART STORES
WISCONSIN ELECTRIC
AA3
AA2
"43
AAA
AA2
AA3
AAA
AA2
AA3
AA3
AA3
AA2
AA3
AAA
AA3
AA2
AA2
AA-
AA-
AA-
"4
AA-
AA-
AAA
AA-
AA-
AA
AA-
AA
AA
AAA
AA-
AA
AA+
Commercial Paper Investments Meeting the Current Investment Policy:
(Ratings must be Alp1 or better by both Moody'sand S&P)
(Ratings of other debt must be AA or better by both Moodv'sand S&P)
DUPONT
MERFULL LYNCH
Al+ P1
Al+ P1 Other Debt: AA3/AA-
Investments Made Under a Previous Investment Policy (Ratings must be A or better) Prior to 2/13/96
Moody's s&p
FORD MOTORS CREDIT
SOUTHERN CALIF ED
AI A+
A1 A+
Investments with Subsequent Changes in Credit Rating *
Maturity Carrying
Moody's s&p Date Purchased - Value
DIGITAL EQUIP BA 1 BB+ 11/15/97 MIA- 1,007,589
DONNELLY AI A+ 12/01/00 AA31AA- 1,110,779
* The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions
to the policy. All investments are paying interest at the required times. The principal of all investments are considered
secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate
they should be sold.
1- 0) 8 OF CARLSBAD INVESTMENT PORTFO @ Exhil
AS OF JUNE 30,1997
PERCENTAGE WEIGHTING5 BY CORPOR4TE NOTE ISSUER
Investments Meeting the Current Investment Policy (Percentage Less Than WO)
ASSOCIATES CORP NA
BANCONE
CAMPBELLS SOUP
DETROIT SEWER
DIGITAL EQUIP
DONNELLY
DUKE POWER
DUPONT
FCC NATIONAL BANK
FORD MOTORS CREDIT
GENERAL ELECTRIC CREDIT
KENTUCKY UTILITIES
NATIONAL RURAL UTILITIES
NORWEST
MERRLIL LYNCH
PROCTOR & GAMBLE
SOUTHERN CALIF ED
ST PAUL CO
TOYOTA
TRAVELERS GROUP INC
WAL"ART STORES
WISCONSIN ELECTRIC
Investment Cost
8,039,266.00
997,870.00
2,062,700.00
1,014,980.00
1,053,390.00
1,145,610.00
2,048,020.00
1,945,244.44
975,690.00
1,957,160.00
9,108,300.00
2,024,340.00
3,019,970.00
6,048,871.00
8,290,667.70
2,256,561.60
1,000,000.00
2,042,260.00
5,530,503.57
1,105,341.85
2,491,325.00
1,000,560.00
Percent of Portfolio
4.03
0.50
1.03
0.5 1
0.53
0.57
1.03
0.98
0.49
0.98
4.57
1.01
1.51
3.03
4.16
1.13
0.50
1.02
2.77
0.55
1.25
0.50
Investments Made Under a Previous Investment Policy (Percentage Limited to 10%) Prior to 2/13/96
Investment Cost Percent of Portfolio
N/A
Total Portfolio $199,483,871.3
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