HomeMy WebLinkAbout1998-10-06; City Council; 14866; REPORT ON CITY INVESTMENTS AS OF AUGUST, 1998d . CITY OF CARLSBAD - AGEND BILL 0 F 37 c - r\
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MTG. ’”/./98
DEPT. H : TITLE: clTY*mq REPORT ON CITY INVESTMENTS
TRS AS OF AUGUST, 1998 DEPT. I CITY MGRa
RECOMMENDED ACTION:
Accept and file report.
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 August 31 , 1998 is as follows:
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Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value
Cost of Investments
253,007,906 263,640,800
252,944,410 263,563,021
Amortized Cost (1)
Market Value (2)
253,131,399 263,848,837
253,684,681 265,183,183
(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 Union
Bank of California’s custodial report as of 08/31/98.
Interest Income
Current
Current
Income Month FYTD Month FYTD
Month Prior
Cash Income Fiscal 1,092,592 1 ,I 39,680 2,232,272
~
Year-to-Date *
* The cash income received is adjusted for any accrued interest purchased.
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PAGE TWO OF AGENDA BILL NO. 17 Rh6
I
Investment PerformancelMeasurement
Average Life
{Years) Modified Duration Average Yield
June 1998
I .09 5.89% 1.34 July 1998
1.15 5.88% 1.40
August 1998 1.10 5.88% 1.34
All investments have been made in accordance with the City’s Investment Policy adopted Janu
2, 1985 and last revised September 2, 1997. All investments were initially made in accordance \I
the City’s Investment Policy. Events subsequent to the purchase might have resulted in sc
investments not being in compliance with the current policy. These events are typically a changi
the City’s Investment Policy or a change in the credit rating subsequent to a purchase. See Ex1
8 for details.
Investment portfolio has the ability to meet the City’s cash flow demands for the next six
months.
EXHIBITS:
1. Investment Portfolio Breakdown By Book Value, Market Value, Cash Income, and Aver;
Yield
2. Investment Portfolio Breakdown Of Maturities
3. Yield Comparison Graph
4. Cumulative Cash Income Graph
5. Third Quarter Transactions
6. Investment Report
7. Reconciliation of Fund Source to Investment Portfolio
8. corporate Note and Commercial Paper Ratings
9. Percentage Weightings By Corporate Note Issuer
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