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Home My WebLink About2000-05-02; City Council; 15715; Report On City Investments March 31, 2000.-. - 3 \ CITY OF CARLSBAD -AGENDA BILL AB# /5: TITLE: MTG. 5-2-00 I REPORT ON CITY INVESTMENTS DEPT. TRS As of March 31, 2000 CITY MGRa Accept and file report. ITEM EXPLANATION: The City’s investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City’s pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City’s pooled investment portfolio as of the month ended March 31, 2000 is as follows: (1) Of the $305 million in the investment portfolio, $40 million are General Fund dollars. The balance of the funds are restricted for various purposes. See Exhibit 7 for a breakdown of fund equities in the investment pool. (2) The cost of investments adjusted for amortized premiums and discounts. (3) The amount at which the investments could be sold. Source of market values is Union Bank of California’s custodial report as of 03/31/00. Cash Income Fiscal Year-to-Date * Current Month FMD 12,818,081 Prior Month FYTD 10,997,449 Current Month Income 1,820,632 * The cash income received is adjusted for any accrued interest purchased. PAGE TWO OF AGENDA BILL NO. 1% 7 15 Pooled Investment Performance/Measurement Modified Duration All pooled investments have been made in accordance with the City’s Investment Policy adopted January 2, 1985 and last revised January 11, 2000. All investments were initially made in accordance with the City’s Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City’s Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details. The pooled investment portfolio has the ability to meet the City’s cash flow demands for the next six (6) months. In summary, the City’s investments of bond proceeds held separately as of the quarter ended March 31, 2000 is as follows: Investment Portfolio for Bond Proceeds All investments of bond proceeds have been made in accordance with the City’s Investment Policy and the trust indenture for each issue. EXHIBITS FOR POOLED INVESTMENTS: 1. 2. Investment Portfolio Breakdown By Book Value, Market Value, Cash Income, and Average Yield Investment Portfolio Breakdown Of Maturities PAGE THREE OF AGENDA BILL NO. 1 s! 7 15 EXHIBITS FOR POOLED INVESTMENTS (continued): 3. Yield Comparison Graph 4. Cumulative Cash Income Graph 5. Third Quarter Transactions 6. Detailed Investment Report 7. Fund Equity in Pooled Investments 8. Corporate Note and Commercial Paper Ratings 9. Percentage Weightings By Corporate Note Issuer EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY: 10. Detailed Investment Report - Quarterly Report 3 EXHIBIT 1 8 d 8 d 0 0 0 0 0 ls EXHIBIT 2 0 0 0 0 O 0 0 5 EXHIBIT 3 UI a i% xa ulr I c F -0 .- e F 3 -0 -2 -: -& -a 2 -F -5 -0 -3 -h -a 2 -: 3 -0 -5 -7 -‘n -a -2 -s 3 -0 -2 2 -a 2 -s 3 -0 EXHIBIT 4 , b s l . 1 \ -3 7 -2 - 8 E - & a _ 2 E a -2 -2 0 ‘A > - 0 z 3 0 a 4 CD - s a -3 7 L- 888888 gggggg 9 9 9 9 9 9 88888t? 9 9 9 9 9 cu NNNNNN 8888 gggg 0000 m- ci d d 6888 t-6 It-i ni ni aaaaaa ..N... aaag zzzzzz 22q 8 88888 ii53jis~is~ eeeerr FFFFFF 000000 000 999 888 9 9 9 888 000 ti m- ; aaa . . . zzz EXHIBIT 5 EXHIBIT 6 8 8S88Zizk fNl-40’ ddddc.ititid d CUNPU! 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F % f 3 f 5 $ z- f. $- ze z- $-- 5 fi vJ$gggggffpJf~H~i$ t.r~NN***w*ull. s (0 b 03 CT- mm o* OS OS mm om ” q s s-- c-4‘ d m- ; o- %-- N‘ 6 ; %-- v- *- N- N‘ F- -a rPm)NNPN-r 888888%~~~~~~~~~~ sssssssss 8 g”gg”“” ddddddddd g wosoosssooooosooooooooooooo 0 I sssss”ssssooooooooo - - *- *- *- *- *- *- *- *- *- *- *- 53gs 8 - o- o- o- o- o- o- d o- o- o- o- o- ui ooooooooooo wooooooooooo P a 9 9 9 9 9 9 9 be 9 9 9 9 9 ‘4 r- 9 9 9 9 9 9 9 9 9 9 E _ >NNoprwNwrNNNtNNrrNwwNNwNNN p g2ss 2 E k? sssssss ri-ig~ . v)u)NO E Q 24 ddddddd GK?c?K22% b- Pi d m- I-- - ti 88 68 : 2 (d a$ ti ; 0 0 rc’ 8 88 8 8586 + ; ; d ; ; ; & ; ; cu‘ ; SszS~ s s 8 f3ssz$s$qq gggg Q 8 8 ggggggg o- o- o- o- o- 9 - o- o- o- - o- d o- ssss 8 3 5 000 ooooss s 8 lo- ; N‘ ; m- 4 .P- ; ; ti ; v- c.j ; w El aaaaaaaaaaaaaaaaaaaaaaaaaa uuuuuuuuuuuuuuuuuuuuuuuuuu - 3 3 ggz4fE ” ; e- ; Y- Y- ; En N- .-- N- W- N- 88 2s: 8 eiti ‘d ‘tid s ? &iOl- *Y4 %r: o- cd cd d a 9 “2izG c-i d o- - 7 42,. . 989% 8f-r ZS8 8 Nor-0 38 o- cd cd d “%KG f-J- -i o- EXHIBIT 7 Cash Balance by Fund: General Special Revenue Debt Service Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Other Capital Construction Fund Equity in Pooled Investments AS OF MARCH 31,200O Total Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Golf Course Total Internal Service Redevelopment Funds (1) Agency Funds Misc. Special Funds Total General Ledger Balance ** Amortization of discounts and premiums Deposits in transit Outstanding checks Wire inl(out) not recorded Other Net adjustments per bank statement Total adjustments Total Treasurer’s Investment Portfollo 39,585,440 24,157,216 1966,656 9,749,586 4,216,473 30,008,199 5,151,109 10,901,418 6,750,186 51,731,598 2,216,424 120,724,993 40,953,688 50,185,551 2,727,403 2,866,752 96,733,395 12,628,881 0 9,407,890 0 304,306,470 (12,953) 1,317,168 1,304,215 305,610,684 (1) Redevelopment Fund Balances are interspersed throughout all funds. l * Figures based on best estimate at the time report run on 04/10/00. /3 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31,ZOOO CORPORATE NOTEAND COMMERCLQL PAPER RATINGS Corporrte Note Investments Meeting the Current Invcsbnent Policy: IRatings must be AA or better by both Moody’s and S&P) AMERlTECH CAP BAYER CORF’ BAYER LND BANK CAMPBELL SOUP CO CITICORP ClTIGROUF’ DUPONT GENERAL FiLJXTRIC CAPITAL GENERAL ELECTRIC CREDIT MARGARETTENFINL MERRILL LYNCH NATIONAL RURAL UTILITIES NORTHERN ILL GAS REED ELSEVIFiR CAPITAL SOUTHWESTERN BELL TOYOTA TRAVELERS GROUP INC WAL MART Moody’s AA3 AA2 AAA AA3 AA3 AA2 AA3 AAA AAA AA3 AA3 AA3 AAI AA3 AA2 AAA AA2 AA2 S&P - AA- AA AAA AA- AA- AA- AA- AAA AAA AA- AA- AA AA AA- AA- AA1 AA- AA Commercial Paper Iavestmenta Meeting the Current Investment Policy: (Rating must be Al/P1 or better by both Moody’s and S&P) (IWings of otber debt must be AA or better by Moody’s or S&P) SYDNEY CAP CORF Al+ PI Investment3 with Subseunent Chengcs In Credit Ratlnr * ASSOC CORF AT&T BANC ONE CORI’ DONNELLY FCC NATlONAL BANK FIRST NATlONAL BANK CHICAGO FIRST USA BANK I P MORGAN KAISER FOUND HSP KENTUCKY UTlLITlES NORWBST OKLAHOMA GAS & ELECT ST PAUL CO Moody’s s&p AA3 A+ Al AA- AA3 A Al A AA2 A+ AA2 A+ AA2 A+ Al AA- A3 A Al A AA2 A+ Al A+ Al A+ Other Debt: Lest Maturity Date 1 O/l 5103 06/01/01 03/25/02 12/01/00 3/15/01 09/01/00 5/08/00 05mimo I l/01/01 6/l 5/00 Q3lQllQ2 10/15/00 08/13/01 Purcbased AA3lAA- AA3/AA- AA3/AA- AA3/AA- AA3/AA- AAZIAA- AA2lAA AA3lAA AA3iAA AAZIAA- AA3/AA- AA3lAA AAJIAA carrying Market m w 7,750,847 7,655,974 2,015,630 1,987,800 2,500,296 2,491,060 1,020,610 1,014,580 994,915 994,200 4,001,525 3,991,780 2,015,353 1,984,970 999,988 999,190 906,476 893,121 2,001,189 1,996,720 9,645,433 9,583,334 1,002,435 995,820 1,001,520 989,590 EXHIBIT 8 l The City’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these 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. CITY OF CAIUSBAD INVESTMENT PORTFOLIO AS OF MARCH 31,200O AMRRITECH CAPITAL ASSOCIATES CORP NA AT&T BANC ONE BAYER BAYER LM> BK CAMPBELL SOUP CO cITlcoRP CITIGROUP DONNELLY DUPONT FCC NATIONAL BANK FIRST USA BANK FIRST NATIONAL BANK GENERALI3LECTRICCREDIT J.P. MORGAN KAISER FOUD HSP KBN-lwcKYuTILrrIEs MARGARETIENFINL. MERRILL LYNCH (includes CP) NATIONAL RURAL UTILITIES NORTHERN ILLGAS NORWEST OKLAHOMA GAS de. ELECTRIC REED ELSERVIER CAPITAL SOUTHWESTERN BELL ST PAUL CO SYDNEY CAP cow TOYOTA TRAVELLERS GROUPING WALMART PERCENTAGE WEIGHTKNGS BY CORPORAlZ NOTE ISSUER Jnvertment Cost 1,843,969.81 1,194,913.23 2,044,620.00 2,504,125.00 1,291,375.00 515.512.50 1,868,682.02 1,006.100.00 6,780,970.00 1,145,610.00 1,168,073.48 975,690.M 2,039,195.00 4*040,400.00 8,944,354.00 999.720.00 9543187.50 2,024,340.00 1,023,210.00 13,120,517.99 3.727.961.96 715J49.40 9,754,%9.00 1,012,500.00 2,020,720.00 3,084,830.00 1,004,920.00 1,395,520.75 2,012,8OO.C0 1,105,341.85 1,522,920.00 EXHIBIT 9 percent of Portfolio” 0.60% 2.55% 0.67% 0.82% 0.42% 0.17% 0.61% 0.33% 2.22% 0.37% 0.38% 0.32% 0.67% 1.32% 2.93% 0.33% 0.31% 0.66% 0.33% 4.29% 1.22% 0.23% 3.19% 0.33% 0.66% 1.01% 0.33% 0.46% 0.66% 0.36% 0.50% Total Portfolio X305,610,684.19 *Nomomthm5%mybinvtiwithasingleissue. EXHIBIT 10 aa 21 $d%gj zzza 3 spae <s& f 86 ZZZ& 9$ s 90 titi zlc. ‘2 8 :<s gzz 0 s 3 Ia5 I 9